The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AETNA INC NEW COM 00817Y108 8,299 65,109 SH   SOLE 65,109 0 0
APPLE INC COM 037833100 348 2,774 SH   SOLE 2,774 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 6,225 524,015 SH   SOLE 524,015 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 327 9,375 SH   SOLE 9,375 0 0
EMPIRE ST RLTY OP L P UNIT LTD PRTNSP 292102100 582 34,411 SH   SOLE 34,411 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 11,144 337,697 SH   SOLE 337,697 0 0
GLOBAL EAGLE ENTMT INC COM 37951D102 3,134 240,724 SH   SOLE 240,724 0 0
HCA HOLDINGS INC COM 40412C101 5,474 60,335 SH   SOLE 60,335 0 0
HEALTHSOUTH CORP COM NEW 421924309 8,574 186,139 SH   SOLE 186,139 0 0
LIFEPOINT HEALTH INC COM 53219L109 6,541 75,232 SH   SOLE 75,232 0 0
MEDLEY CAP CORP COM 58503F106 3,393 380,789 SH   SOLE 380,789 0 0
MEMORIAL PRODTN PARTNERS LP COM U REP LTD 586048100 8,519 573,689 SH   SOLE 573,689 0 0
NUVEEN PFD INCOME OPPRTNY FD COM 67073B106 385 42,055 SH   SOLE 42,055 0 0
NUVEEN QUALITY PFD INCOME FD COM 67072C105 527 62,191 SH   SOLE 62,191 0 0
POWERSHARES GLOBAL ETF TRUST WK VRDO TX FR 73936T433 251 10,083 SH   SOLE 10,083 0 0
QAD INC CL B 74727D207 1,309 63,303 SH   SOLE 63,303 0 0
QAD INC CL A 74727D306 6,919 261,778 SH   SOLE 261,778 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 4,931 62,665 SH   SOLE 62,665 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 5,144 108,293 SH   SOLE 108,293 0 0
SUNCOKE ENERGY PARTNERS L P COMUNIT REP LT 86722Y101 371 21,712 SH   SOLE 21,712 0 0