Portfolio Holdings as of 5/31/2020
| Ticker | Cusip | Description | Shares | Market Value | % of Portfolio |
| TOIXX | 60934N500 | Federated Treasury O bligations Fund | 28,987,871.610 | $28,987,871.61 | 37.48% |
| DDEJF | 264901109 | Dundee Corp | 6,228,717.000 | $5,418,983.79 | 7.01% |
| SCOR | 20564W105 | COMSCORE, INC | 1,358,349.000 | $5,114,183.99 | 6.61% |
| GSIT | 36241U106 | GSI Technology Inc | 603,570.000 | $4,544,882.10 | 5.88% |
| CRTO | 226718104 | Criteo SA | 417,610.000 | $4,280,502.50 | 5.53% |
| LQDT | 53635B107 | Liquidity Services I nc | 672,980.000 | $3,842,715.80 | 4.97% |
| LEAF | 52177G102 | LEAF GROUP LTD | 1,253,134.000 | $3,421,055.82 | 4.42% |
| ZAGG | 98884U108 | ZAGG INC | 1,010,228.000 | $3,015,530.58 | 3.90% |
| MCHX | 56624R108 | Marchex Inc | 1,755,034.000 | $2,720,302.70 | 3.52% |
| 912828J7 | 912828J76 | US TREASURY N/B 3/31/2022 1.75% | 2,500,000.000 | $2,572,461.00 | 3.33% |
| ATEN | 002121101 | A10 Networks Inc | 260,454.000 | $1,771,087.20 | 2.29% |
| 55382940 | 553829409 | MVC CAPITAL INC 11/30/2022 6.25% | 71,341.000 | $1,701,482.85 | 2.20% |
| 205677AB | 205677AB3 | COMSTOCK RESOURCES INC 08/15/26 9.75% | 1,493,000.000 | $1,387,370.85 | 1.79% |
| 69181V20 | 69181V206 | OXFORD SQUARE CAPITA L CO 3/30/2024 6.5% | 49,459.000 | $1,125,192.25 | 1.45% |
| CPTA | 14054R304 | CAPITAL FINANCE CO RP 05/31/2022 6% | 53,410.000 | $987,016.80 | 1.28% |
| PTMN | 73688F102 | Portman Ridge Finance | 685,840.000 | $891,592.00 | 1.15% |
| 69181V30 | 69181V305 | OXFORD SQUARE 6.25% 04/30/2026 | 38,044.000 | $821,750.40 | 1.06% |
| RIBT | 762831204 | RICEBRAN TECH. | 661,259.000 | $740,610.08 | 0.96% |
| KCAPL | 48668E309 | PORTMAN RIDGE FIN CO RP 6.125% 09/30/2022 | 30,900.000 | $713,790.00 | 0.92% |
| OXLCP | 691543607 | OXFORD LANE CAPITAL 6.25% | 31,850.000 | $697,515.00 | 0.90% |
| 20467BAB | 20467BAB5 | CSI COMPRESSO LP 08/15/2022 7.25% | 1,979,000.000 | $631,630.90 | 0.82% |
| MCC | 58503F106 | Medley Capital Corp | 928,071.000 | $621,807.57 | 0.80% |
| HWCC | 44244K109 | HOUSTON WIRE& CABLE CO | 211,530.000 | $514,017.90 | 0.66% |
| 14050120 | 140501206 | CAPITAL SOUTHWEST CO RP 12/15/2022 5.95% | 19,944.000 | $476,462.16 | 0.62% |
| SD | 80007P869 | SandRidge Energy Inc | 115,000.000 | $181,700.00 | 0.23% |
| DXLG | 25065K104 | Destination XL Group Inc | 297,134.000 | $126,995.07 | 0.16% |
| 58503F40 | 58503F403 | MEDLEY CAPITAL CORP 6.5% 01/30/2021 | 1,000.000 | $23,234.80 | 0.03% |
| 58503F30 | 58503F304 | MEDLEY CAPITAL CORP 6.125% 03/30/2023 | 853.000 | $17,709.90 | 0.02% |
| Totals | 51,715,582.610 | $77,349,455.61 | |||