ELECTRO SENSORS INC — Director's Dealing 2005

Sep 19, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ELECTRO SENSORS INC (ELSE)
CIK: 0000351789
Period of Report: 2005-09-15

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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-09-15	Common Stock	P	808	$4.1	Acquired	187863	Indirect
2005-09-15	Common Stock	P	600	$4.11	Acquired	188463	Indirect
2005-09-15	Common Stock	P	180	$4.13	Acquired	188643	Indirect
2005-09-15	Common Stock	P	3780	$4.14	Acquired	192423	Indirect
2005-09-15	Common Stock	P	10782	$4.15	Acquired	203205	Indirect
2005-09-15	Common Stock	P	539	$4.1	Acquired	149105	Indirect
2005-09-15	Common Stock	P	400	$4.11	Acquired	149505	Indirect
2005-09-15	Common Stock	P	120	$4.13	Acquired	149625	Indirect
2005-09-15	Common Stock	P	2520	$4.14	Acquired	152145	Indirect
2005-09-15	Common Stock	P	7271	$4.15	Acquired	159416	Indirect
2005-09-16	Common Stock	P	342	$4.13	Acquired	203547	Indirect
2005-09-16	Common Stock	P	57	$4.14	Acquired	203604	Indirect
2005-09-16	Common Stock	P	1422	$4.15	Acquired	205025	Indirect
2005-09-16	Common Stock	P	258	$4.13	Acquired	159674	Indirect
2005-09-16	Common Stock	P	43	$4.14	Acquired	159717	Indirect
2005-09-16	Common Stock	P	1078	$4.15	Acquired	160795	Indirect

Footnotes

F1: This Form 4 is being filed by Daniel Zeff, Spectrum Galaxy Fund Ltd. ("Spectrum"), Zeff Capital Partners I, L.P. ("Capital")
and Zeff Holding Company, LLC ("Holding").

F2: This transaction was effected through 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 4(b)(iv) of Form 4, 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. Each of Holding and
Capital disclaims beneficial ownership over all shares held by Spectrum.

F3: This transaction was effected through 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 4(b)(iv) of Form 4, 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. Spectrum disclaims beneficial ownership over all
shares held through Capital.