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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549
 
SCHEDULE 13G
 
 
Under the Securities Exchange Act of 1934.
 
(Amendment No.___)*
 
 
Alanco Technologies, Inc.
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
011612603 
(CUSIP Number)
 
December 31, 2007 
(Date of Event Which Requires Filing of this Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
x
Rule 13d-1(b)
o
Rule 13d-1(c)
o
Rule 13d-1(d)
 
*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 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 (howere, see the Notes).
 
 
Person who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
 
Page 1 of 5
 
SCHEDULE 13G
 
CUSIP No. 846243103
 
 
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Bruce & Co., Inc.
 
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
 
(a)
o
 
 
(b)
o
 
 
3.
SEC Use Only
 
 
4.
Citizenship or Place of Organization
Illinois
 
 
 
 
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
 
5.
 
Sole Voting Power
1,681,706
 
6.
Shared Voting Power
 
 
7.
Sole Dispositive Power
1,681,706
 
8.
Shared Dispositive Power
 
 
 
9.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,681,706
 
 
10.
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o
 
 
 
11.
Percent of Class Represented by Amount in Row (9)
7.40%
 
 
12.
Type of Reporting Person (See Instructions)
IA
           
 
Page 2 of 5

 
Item 1.
 
(a)
Name of Issuer
Alanco Technologies, Inc. 
 
(b)
Address of Issuer’s Principal Executive Offices
15575 North 83rd Way
Suite 3
Scottsdale, AZ 85260
 
Item 2.
 
(a)
Name of Person Filing
Bruce & Co., Inc.
 
(b)
Address of Principal Business Office or, if none, Residence
20 North Wacker Dr., Suite 2414
Chicago, IL 60606
 
(c)
Citizenship
Illinois Corporation
 
(d)
Title of Class of Securities
Common Stock
 
(e)
CUSIP Number
011612603
 
Item 3.
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
 
(a)
o
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
 
(b)
o
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
 
(c)
o
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
 
(d)
o
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
 
(e)
x
An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
(f)
o
An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
 
(g)
o
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
 
(h)
o
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
(i)
o
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 
(j)
o
Group, in accordance with §240.13d-1(b)(1)(ii)(J).
 
Page 3 of 5

 
Item 4.
Ownership*
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
 
 
 
 
(a)
 
Amount beneficially owned:  1,681,706
 
 
 
 
(b)
 
Percent of class:  7.40%
 
 
 
 
 
(c)
 
 
Number of shares as to which the person has:
 
 
 
 
 
 
 
 
(i)
 
Sole power to vote or to direct the vote:  1,681,706
 
 
 
 
 
 
 
(ii)
 
 
Shared power to vote or to direct the vote: ___
 
 
 
 
 
 
 
 
(iii)
 
Sole power to dispose or to direct the disposition of:  1,681,706
 
 
 
 
 
 
 
(iv)
 
 
Shared power to dispose or to direct the disposition of:  ___
 
 
Bruce & Co., Inc., an Illinois corporation and registered investment adviser under the Investment Advisers Act of 1940, is filing this Schedule 13G in its capacity as investment manager for Bruce Fund, Inc., a Maryland registered investment company.
 
Item 5.
Ownership of Five Percent or Less of a Class
Not applicable
 
Item 6.
Ownership of More than Five Percent on Behalf of Another Person
The securities reported on this Schedule 13G are directly held by Bruce Fund, Inc.
 
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person
Not applicable
 
Item 8.
Identification and Classification of Members of the Group
Not applicable
 
Item 9.
Notice of Dissolution of Group
Not applicable
 
Item 10.
Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 
Page 4 of 5

SIGNATURE
 
After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certify that the information set forth in this Statement is true, complete and correct.
 
Dated as of this 13th day of February, 2007.
 
BRUCE & CO., INC.
 
 
/s/ R. Jeffrey Bruce
 
By:
 R. Jeffrey Bruce
 
Title:
 Vice-President
 
 
Page 5 of 5