ELECTRO SENSORS INC — Director's Dealing 2005

Sep 16, 2005

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ELECTRO SENSORS INC (ELSE)
CIK: 0000351789
Period of Report: 2005-09-14

Reporting Person: ZEFF DANIEL (10% Owner)
Reporting Person: Zeff Holding Company, LLC (10% Owner)
Reporting Person: Zeff Capital Partners I, L.P. (10% Owner)
Reporting Person: Spectrum Galaxy Fund Ltd. (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	148566	Indirect
Common Stock	187055	Indirect

Footnotes

F1: This Form 3 is being filed by Daniel Zeff, Zeff Holding Company, LLC ("Holding"), Zeff Capital Partners I, L.P. ("Capital")
and Spectrum Galaxy Fund Ltd. ("Spectrum").

F2: This amount reflects the amount of securities held, as of the date indicated in Item 2 above, by Capital. Mr. Zeff is the
sole manager and member of Holding, which in turn serves as the general partner for Capital. In accordance with Instruction
5(b)(iv) of Form 3, the entire amount of the Issuer's securities held by Capital is reported herein. Each of Mr. Zeff and
Holding disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such
securities, except to the extent of its/his indirect pecuniary interest therein, and this report shall not be deemed an
admission that any of Mr. Zeff or Holding is the beneficial owner of such securities for purposes of Section 16 or for any
other purposes.

F3: This amount reflects the amount of securities held, as of the date indicated in Item 2 above, by Spectrum. Mr. Zeff provides
discretionary investment management services to Zeff Capital Offshore Fund, a class of shares of Spectrum, a company
incorporated in the British Virgin Islands. In accordance with Instruction 5(b)(iv) of Form 3, the entire amount of the
Issuer's securities held by Spectrum is reported herein. Mr. Zeff disclaims, for purposes of Section 16 of the Securities
Exchange Act of 1934, beneficial ownership of such securities, except to the extent of his indirect pecuniary interest
therein, and this report shall not be deemed an admission that Mr. Zeff is the beneficial owner of such securities for
purposes of Section 16 or for any other purposes.