- Amended Statement of Beneficial Ownership (SC 13D/A)

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment No. 3)*
LL&E Royalty Trust
(Name of Issuer)
Units of Beneficial Interest
(Title of Class of Securities)
502003 10 6
(CUSIP Number)
Robert Robotti c/o Robotti & Company, Incorporated
110 East 42 nd Street, Suite 1100
New York, New York 10017
212-986-4800
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 28, 2009
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. [  ]
Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See 13d-7 for other parties to whom copies are to be sent.
(Page 1 of 20 Pages)
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Schedule 13D

CUSIP No. 502003 10 6

Page 2 of 20 Pages

1.

Names of Reporting Persons Robert E. Robotti

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

AF, OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

United States

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 1,772,768

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 1,772,768

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,772,768

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

9.3%

14.

Type of Reporting Person (See Instructions)

IN, HC

Schedule 13D

CUSIP No. 502003 10 6

Page 3 of 20 Pages

1.

Names of Reporting Persons Robotti & Company, Incorporated

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[   ]

6.

Citizenship or Place of Organization

New York

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 65,800

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 65,800

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

65,800

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

CO, HC

Schedule 13D

CUSIP No. 502003 10 6

Page 4 of 20 Pages

1.

Names of Reporting Persons Robotti & Company, LLC

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

New York

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 64,500

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 64,500

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

64,500

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

OO, BD

Schedule 13D

CUSIP No. 502003 10 6

Page 5 of 20 Pages

1.

Names of Reporting Persons Robotti & Company Advisors, LLC

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

OO

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

New York

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 1,300

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 1,300

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,300

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

OO, IA

Schedule 13D

CUSIP No. 502003 10 6

Page 6 of 20 Pages

1.

Names of Reporting Persons Kenneth R. Wasiak

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

AF

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

United States

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 1,706,968

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 1,706,968

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,706,968

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

9.0%

14.

Type of Reporting Person (See Instructions)

IN, HC

Schedule 13D

CUSIP No. 502003 10 6

Page 7 of 20 Pages

1.

Names of Reporting Persons Ravenswood Management Company, L.L.C.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

AF

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

New York

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 1,706,968

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 1,706,968

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,706,968

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

9.0%

14.

Type of Reporting Person (See Instructions)

OO

Schedule 13D

CUSIP No. 502003 10 6

Page 8 of 20 Pages

1.

Names of Reporting Persons The Ravenswood Investment Company, L.P.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

WC

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

New York

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 1,205,582

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 1,205,582

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,205,582

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

6.4%

14.

Type of Reporting Person (See Instructions)

PN

Schedule 13D

CUSIP No. 502003 10 6

Page 9 of 20 Pages

1.

Names of Reporting Persons Ravenswood Investments III, L.P.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

WC

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

New York

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 501,386

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 501,386

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

501,386

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

2.6%

14.

Type of Reporting Person (See Instructions)

PN

Schedule 13D

CUSIP No. 502003 10 6

Page 10 of 20 Pages

1.

Names of Reporting Persons Benjamin Stein

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

AF

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

United States

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 129,034

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 129,034

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

129,034

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

IN, HC

Schedule 13D

CUSIP No. 502003 10 6

Page 11 of 20 Pages

1.

Names of Reporting Persons Zachary Sternberg

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

AF

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

United States

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 129,034

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 129,034

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

129,034

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

IN, HC

Schedule 13D

CUSIP No. 502003 10 6

Page 12 of 20 Pages

1.

Names of Reporting Persons Spruce House Capital LLC

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

AF

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

Delaware

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 129,034

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 129,034

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

129,034

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

OO

Schedule 13D

CUSIP No. 502003 10 6

Page 13 of 20 Pages

1.

Names of Reporting Persons Spruce House Partners LP

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

[  ]

(b)

[X]

3.

SEC Use Only

4.

Source of Funds (See Instructions)

WC

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

[  ]

6.

Citizenship or Place of Organization

Delaware

Number of

7.

Sole Voting Power: -0-

Shares

Beneficially

8.

Shared Voting Power: 129,034

Owned by

Each

9.

Sole Dispositive Power: -0-

Reporting

Person With

10.

Shared Dispositive Power: 129,034

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

129,034

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [  ]

13.

Percent of Class Represented by Amount in Row (11)

Less than 1%

14.

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D
CUSIP No. 502003 10 6			Page 14 of 20 Pages
This Statement on Schedule 13D Amendment No. 3 (this "Statement") is filed on behalf of the Reporting Persons with the Securities and Exchange Commission (the "Commission").  This Statement amends the Initial Statement of Beneficial Ownership on Schedule 13D relating to Units of Beneficial Interest (the "Units") of LL&E Royalty Trust (the "Issuer"), filed on October 23, 2008 with the Commission as amended by Amendment No. 1 and Amendment No. 2 thereto, filed with the Commission on February 9, 2009 and June 10, 2009 respectively (as so amended, the "Amended Statement"), as specifically set forth herein.  Capitalized terms used herein and not otherwise defined herein shall have the same meanings ascribed to them in the Initial Statement.
Item 2.	Identity and Background
Item 2 of the Amended Statement is hereby amended and restated to read as follows:
(a), (b), (c) and (f).  This Statement is filed on behalf of Robert E. Robotti ("Robotti"), Robotti & Company, Incorporated ("ROBT"), Robotti & Company, LLC ("Robotti & Company"), Robotti & Company Advisors, LLC ("Robotti Advisors"), Kenneth R. Wasiak ("Wasiak"), Ravenswood Management Company, L.L.C. ("RMC"), The Ravenswood Investment Company, L.P. ("RIC"), Ravenswood Investments III, L.P. ("RI,"), Benjamin Stein ("Stein"), Zachary Sternberg ("Sternberg"), Spruce House Capital LLC ("SHC"), and Spruce House Partners LP ("SHP" and together with Robotti, ROBT, Robotti & Company, Robotti Advisors, Wasiak, RMC, RIC, RI, Stein, Sternberg, and SHC the "Reporting Persons").
Mr. Robotti is a United States citizen whose principal occupation is serving as the president and treasurer of ROBT.  ROBT, a New York corporation, is the parent holding company of Robotti & Company and Robotti Advisors.  Robotti & Company, a New York limited liability company, is a broker-dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended ("Exchange Act").  Robotti Advisors, a New York limited liability company, is an investment advisor registered under the Investment Advisers Act of 1940, as amended
Mr. Wasiak is a United States citizen whose principal occupation is serving as a consultant in the accounting firm of Pustorino, Puglisi & Company, P.C.  Each of Messrs. Robotti and Wasiak are Managing Member of RMC.  RMC, a New York limited liability company, is the general partner of RIC and RI.  RIC and RI, New York limited partnerships, are private investment partnerships engaged in the purchase and sale of securities for their own accounts.
Mr. Stein and Mr. Sternberg are United States citizens whose principal occupations are serving as employees of Robotti & Company.  Each of Messrs. Stein and Sternberg are Managing Members of SHC.  SHC, a Delaware limited liability company, is the general partner of SHP.  SHP, a Delaware limited partnership, is a private investment partnership engaged in the purchase and sale of securities for its own account.
The address of each of the Reporting Persons other than Mr. Wasiak, RMC, RIC, and RI is 110 East 42 nd Street, Suite 1100, New York, New York 10017.  RMC's, RIC's, and RI's address is 104 Gloucester Road, Massapequa, New York 11758.  Mr. Wasiak's business address is 515 Madison Avenue, New York, New York 10022.
Executive Officers and Directors:                 In accordance with the provisions of General Instruction C to Schedule 13D information concerning executive officers and directors of ROBT, Robotti & Company, and Robotti & Company Advisors is included in Schedule A hereto and is incorporated by reference herein.

SCHEDULE 13D
CUSIP No. 502003 10 6						Page 15 of 20 Pages
(d) and (e).  None of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the persons set forth on Schedule A, has during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3.	Source and Amount of Funds or Other Consideration
Item 3 of the Amended Statement is hereby amended and restated to read as follows:
The aggregate purchase price of the 64,500 Units held by Robotti & Company is $157,264.46 (including brokerage fees and expenses).  All of the Units beneficially held by Robotti & Company were paid for using the personal funds of its discretionary customers.
The aggregate purchase price of the 1,300 Units held by Robotti & Advisors is $3,138.25 (including brokerage fees and expenses).  All of the Units beneficially held by Robotti & Advisors were paid for using the personal funds of its discretionary customers.
The aggregate purchase price of the 1,205,582 Units held by RIC is $1,769,918.18 (including brokerage fees and expenses).  All of the Units beneficially held by RIC were paid for using its working capital.
The aggregate purchase price of the 501,386 Units held by RI is $783,918.70 (including brokerage fees and expenses).  All of the Units beneficially held by RI were paid for using its working capital.
The aggregate purchase price of the 129,034 Units held by SHP is $70,185.05 (including brokerage fees and expenses).  All of the Units beneficially held by SHP were paid for using its working capital.
Item 5.	Interest in Securities of the Issuer
Item 5 of the Amended Statement is hereby amended and restated to read as follows:
(a)-(b) As of September 2, 2009, the aggregate number of Units and percentage of the outstanding Units of the Issuer beneficially owned (i) by each of the Reporting Persons, and (ii) to the knowledge of the Reporting Persons, by each other person who may be deemed to be a member of a group, is as follows:
Reporting Person			Aggregate Number of Units	Number of Units: Sole Power to Vote or Dispose	Number of Units: Shared Power to Vote or Dispose		Approximate Percentage*
Robotti (1)(2)(3)(4)			1,772,768	0	1,772,768		9.33%
ROBT (1)(2)			65,800	0	65,800		**
Robotti & Company (1)(2)			64,500	0	64,500		**
Robotti & Company Advisors(1)(3)			1,300	0	1,300		**
Wasiak (1)(4)(5)			1,706,968	0	1,706,968		8.99%
RMC (1)(4)(5)			1,706,968	0	1,706,968		8.99%
RIC (1)(4)			1,205,582	0	1,205,582		6.35%
RI (1)(5)			501,386	0	501,386		2.64%
Stein (1)(6)			129,034	0	129,034		**
Sternberg (1)(6)			129,034	0	129,034		**

SCHEDULE 13D

CUSIP No. 502003 10 6

Page 16 of 20 Pages

SHC (1)(6)

129,034

0

129,034

**

SHP (1)(6)

129,034

0

129,034

**

*Based on 18,991,304 Units of Beneficial Interest outstanding as of August 25, 2009 as disclosed in the Issuer's Annual Report on Form 10-K, for the year ended December 31, 2008.                * *  Less than one percent.

(1) Each of the Reporting Persons disclaims beneficial ownership of the securities held by the other Reporting Persons except to the extent of such Reporting Person's pecuniary interest therein, if any.                 (2) Each of Mr. Robotti and ROBT share with Robotti & Company the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 64,500 Units owned by the discretionary customers of Robotti & Company.                 (3) Each of Mr. Robotti and ROBT share with Robotti Advisors the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 1,300 Units owned by the discretionary customers of Robotti & Company                 (4) Each of Messrs. Robotti and Wasiak and RMC share with RIC the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 1,205,582 Units owned by RIC.                 (5) Each of Messrs. Robotti and Wasiak and RMC share with RI the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 501,386 Units owned by RI.                 (6) Each of Messrs. Stein and Sternberg and SHC share with SHP the power to vote or direct the vote, and share the power to dispose or to direct the disposition, of 129,034 Units owned by SHP.

(c) The table below lists all the transactions in the Issuer's Units in the past sixty days by the Reporting Persons.  All such transactions were made by RIC, RI, and SHP in the open market.

Transactions in Units Within The Past Sixty Days

Party

Date of Purchase/ Sale

Number of Units

Buy/Sell

Price Per Unit

RIC

07/07/2009

4,500

BUY

$0.50

RI

07/07/2009

2,100

BUY

$0.50

RIC

07/08/2009

19,110

BUY

$0.5119

RI

07/08/2009

8,190

BUY

$0.5119

RIC

07/10/2009

878

BUY

$0.50

RI

07/10/2009

377

BUY

$0.50

RIC

07/13/2009

8,875

BUY

$0.50

RI

07/13/2009

3,803

BUY

$0.50

RIC

07/15/2009

700

BUY

$0.50

RI

07/15/2009

300

BUY

$0.50

RIC

07/16/2009

600

BUY

$0.50

RIC

07/17/2009

6,200

BUY

$0.50

RI

07/17/2009

2,667

BUY

$0.50

RIC

07/20/2009

983

BUY

$0.50

RI

07/20/2009

422

BUY

$0.50

RIC

07/21/2009

8,116

BUY

$0.50

RI

07/21/2009

3,479

BUY

$0.50

RIC

07/22/2009

1,120

BUY

$0.49

RI

07/22/2009

480

BUY

$0.49

RIC

07/23/2009

1,512

BUY

$0.50

SCHEDULE 13D

CUSIP No. 502003 10 6

Page 17 of 20 Pages

RI

07/23/2009

648

BUY

$0.50

RIC

07/24/2009

700

BUY

$0.50

RI

07/24/2009

300

BUY

$0.50

RIC

07/27/2009

3,139

BUY

$0.48

RI

07/27/2009

1,346

BUY

$0.48

RIC

07/30/2009

500

BUY

$0.50

SHP

07/30/2009

9,647

BUY

$0.52

SHP

07/31/2009

7,400

BUY

$0.55

SHP

08/06/2009

2,185

BUY

$0.52

SHP

08/07/2009

14,407

BUY

$0.5232

SHP

08/10/2009

3,180

BUY

$0.5191

SHP

08/12/2009

8,145

BUY

$0.553

SHP

08/13/2009

1,200

BUY

$0.53

SHP

08/14/2009

1,667

BUY

$0.52

SHP

08/17/2009

1,853

BUY

$0.52

SHP

08/25/2009

21,300

BUY

$0.565

SHP

08/26/2009

18,700

BUY

$0.54

RIC

08/28/2009

11,760

BUY

$0.50

RI

08/28/2009

5,040

BUY

$0.50

SHP

08/28/2009

16,800

BUY

$0.50

RIC

08/31/2009

15,470

BUY

$0.53

RI

08/31/2009

6,630

BUY

$0.53

SHP

08/31/2009

22,100

BUY

$0.53

RIC

09/01/2009

315

BUY

$0.53

RI

09/01/2009

135

BUY

$0.53

SHP

09/01/2009

450

BUY

$0.53

(d)

Robotti & Company's discretionary customers and Robotti Advisors' clients have the right to receive and the power to direct the receipt of dividends from, and the proceeds from the sale of, Units owned by them.  Except as set forth in the immediately preceding sentence, no Person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such Units beneficially owned by the Reporting Persons.

(e)

Not Applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6 of the Amended Statement has been amended and restated to read as follows:

Each of the Reporting Persons is a party to an Amended and Restated Joint Filing Agreement dated as of September 2, 2009, (the "Amended and Restated Joint Filing Agreement"), pursuant to which the Reporting Persons agreed to jointly file this Statement and any and all amendments and supplements hereto with the Securities and Exchange Commission.  The Amended and Restated Joint Filing Agreement is filed herewith as Exhibit 4 and incorporated herein by reference.

Item 7.

Materials To Be Filed As Exhibits

Item 7 of the Amended Statement has been amended and restated to read as follows:

SCHEDULE 13D
CUSIP No. 502003 10 6		Page 18 of 20 Pages
The following documents are filed herewith or have been previously filed:
1.             Joint Filing Agreement dated as of October 23, 2008 by and among Robert E. Robotti, Robotti & Company, Incorporated, Robotti & Company, LLC, Kenneth R. Wasiak, Ravenswood Management Company, L.L.C., The Ravenswood Investment Company, L.P., and Ravenswood Investments III, L.P.
2.             Letter dated October 21, 2008, from Robotti & Company, LLC, The Ravenswood Investment Company, L.P., and Ravenswood Investments III, L.P. to The Bank of New York Mellon Trust Company, N.A., as Trustee for LL&E Royalty Trust.
3.             Letter dated February 5, 2009, from Robotti & Company, LLC, The Ravenswood Investment Company, L.P., and Ravenswood Investments III, L.P. to The Bank of New York Mellon Trust Company, N.A., as Trustee for LL&E Royalty Trust.
4.             Amended and Restated Joint Filing Agreement dated as of   September 2, 2009 by and among Robert E. Robotti, Robotti & Company, Incorporated, Robotti & Company, LLC, Robotti & Company Advisors, LLC, Kenneth R. Wasiak, Ravenswood Management Company, L.L.C., The Ravenswood Investment Company, L.P., Ravenswood Investments III, L.P., Benjamin Stein, Zachary Sternberg, Spruce House Capital LLC, and Spruce House Partners LP.
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SCHEDULE 13D
CUSIP No. 502003 10 6							Page 19 of 20 Pages
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Date:		September 2, 2009
					Robotti & Company, Incorporated
	/s/ Robert E. Robotti				By:	/s/ Robert E. Robotti
	Robert E. Robotti					Name: Robert E. Robotti
						Title: President and Treasurer
Robotti & Company, LLC					Robotti & Company Advisors, LLC
By:	/s/ Robert E. Robotti				By:	/s/ Robert E. Robotti
	Name: Robert E. Robotti					Name: Robert E. Robotti
	Title: President and Treasurer					Title: President and Treasurer
Ravenswood Management Company, L.L.C.
By:	/s/ Robert E. Robotti					/s/ Kenneth R. Wasiak
	Name: Robert E. Robotti					Kenneth R. Wasiak
	Title: Managing Member
Ravenswood Investments III, L.P.						Ravenswood Investment Company, L.P.
By:	Ravenswood Management Company, L.L.C.				By:	Ravenswood Management Company, L.L.C.
	Its General Partner					Its General Partner
By:	/s/ Robert E. Robotti				By:	/s/ Robert E. Robotti
	Name: Robert E. Robotti					Name: Robert E. Robotti
	Title: Managing Member					Title: Managing Member
Spruce House Capital LLC						/s/ Benjamin Stein
						Benjamin Stein
By:	/s/ Benjamin Stein
	Name: Benjamin Stein					/s/ Zachary Sternberg
	Title: Managing Member					Zachary Sternberg
Spruce House Partners LP
By:	Spruce House Capital LLC
	Its General Partner
By:	/s/ Benjamin Stein
	Name: Benjamin Stein
	Title: Managing Member

SCHEDULE 13D
CUSIP No. 502003 10 6				Page 20 of 20 Pages
Schedule A
The following table sets forth certain information concerning each of the directors and executive officers of each of the entities named below as of the date hereof.
Robotti & Company, Incorporated,   Robotti & Company, LLC, and Robotti & Company Advisors, LLC
Name:			Robert E. Robotti
			(Director, President, Treasurer)
Citizenship			U.S.A.
Principal Occupation:			President and Treasurer, Robotti & Company, Incorporated
Business Address:			110 East 42 nd Street, Suite 1100, New York, New York 10017
Name:			Joseph E. Reilly
			(Director, Secretary)
Citizenship:			U.S.A.
Principal Occupation:			Director and Secretary, Robotti & Company, Incorporated
Business Address:			110 East 42 nd Street, Suite 1100, New York, New York 10017
Name:			Kenneth R. Wasiak
			(Director)
Citizenship			U.S.A.
Principal Occupation:			Consultant, Pustorino, Puglisi & Co., P.C.
Business Address:			515 Madison Avenue, New York, New York 10022
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