Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	590,151	$20.7M	4.0%	$27.85	+17.6%	COM	91529Y106
EG	EVEREST RE GROUP	103,819	$16.18M	3.1%	$99.45	+19.0%	COM	G3223R108
NUE	NUCOR CORP	273,387	$14.59M	2.8%	$32.41	+18.2%	COM	670346105
AIT	APPLIED INDL TECHNLGIES INC CO	285,444	$14.01M	2.7%	$36.74	+8.0%	COM	03820C105
GRC	GORMAN RUPP CO	412,689	$13.8M	2.7%	$24.78	+27.6%	COM	383082104
XOM	EXXON MOBIL CORPORATION	129,689	$13.13M	2.5%	$53.69	+4.2%	COM	30231G102
HP	HELMERICH & PAYNE INC	151,245	$12.72M	2.4%	$61.96	+25.6%	COM	423452101
—	ENERPLUS CORPORATION	679,077	$12.35M	2.4%	$14.79	—	COM	292766102
LNT	ALLIANT CORP COM	233,993	$12.07M	2.3%	$16.89	+3.5%	COM	018802108
—	JONES GROUP INC COM	770,567	$11.53M	2.2%	$13.75	—	COM	48020T101
—	MEADWESTVACO CORPORATION	260,776	$9.631M	1.9%	$34.11	—	COM	583334107
—	USA TRUCK INC COM	711,693	$9.522M	1.8%	$6.44	—	COM	902925106
—	FOREST CITY ENTERPRISES CLASS	490,815	$9.375M	1.8%	$17.91	—	COM	345550107
—	TUESDAY MORNING CORP COM NEW	575,485	$9.185M	1.8%	$10.37	—	COM	899035505
—	ARGO GROUP INTL HLDGS LTD COM	188,078	$8.744M	1.7%	$42.39	—	COM	G0464B107
—	LYDALL INC COM	482,286	$8.498M	1.6%	$14.60	—	COM	550819106
CALY	CALLAWAY GOLF CO COM	926,447	$7.81M	1.5%	$6.48	+19.8%	COM	131193104
—	PENN WEST PETROLEUM LTD	914,138	$7.643M	1.5%	$10.39	—	COM	707887105
—	CASTLE A M & CO	514,057	$7.593M	1.5%	$15.70	—	COM	148411101
—	PENGROWTH ENERGY CORPORATION	1,210,724	$7.507M	1.4%	$4.93	—	COM	70706P104
PTEN	PATTERSON-UTI ENERGY INC COM	292,786	$7.413M	1.4%	$21.83	+9.7%	COM	703481101
—	PHOENIX COMPANIES INC COM NEW	116,486	$7.152M	1.4%	$43.00	—	COM	71902E604
—	FUEL SYS SOLUTIONS INC COM	515,309	$7.147M	1.4%	$16.81	—	COM	35952W103
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	25,000	$7.005M	1.3%	$246.69	+10.6%	WARRANT AND RIGH	H69293217
—	URSTADT BIDDLE PPTYS INC CL A	378,167	$6.977M	1.3%	$20.17	—	COM	917286205
SCL	STEPAN CHEMICAL CO	98,466	$6.462M	1.2%	$56.48	+8.0%	COM	858586100
BA	BOEING CO	45,199	$6.169M	1.2%	$80.37	+38.0%	COM	097023105
WSO	WATSCO INC	63,650	$6.114M	1.2%	$84.42	+12.5%	COM	942622200
UPS	UNITED PARCEL SVC INC CL B	57,490	$6.041M	1.2%	$55.38	+16.4%	COM	911312106
—	VECTREN CORP COM	158,674	$5.633M	1.1%	$33.83	—	COM	92240G101
PEP	PEPSICO INC	65,018	$5.393M	1.0%	$56.07	+3.0%	COM	713448108
TKOMY	TOKIO MARINE HOLDINGS INC	157,195	$5.257M	1.0%	$31.66	—	COM	889094108
—	FIBRIA CELULOSE S.A. SP ADR	447,420	$5.226M	1.0%	$11.09	—	COM	31573A109
AMWD	AMERICAN WOODMARK CORP COM	130,601	$5.163M	1.0%	$34.15	+1.6%	COM	030506109
JNJ	JOHNSON & JOHNSON COM	55,754	$5.107M	1.0%	$59.66	+10.2%	COM	478160104
MFC	MANULIFE FINL CORP COM	254,200	$5.015M	1.0%	$15.16	+20.7%	COM	56501R106
MRK	MERCK & COMPANY	99,926	$5.001M	1.0%	$30.06	+4.1%	COM	58933Y105
—	CIMAREX ENERGY CO COM	47,381	$4.971M	1.0%	$64.99	—	COM	171798101
ATO	ATMOS ENERGY CORP COM	108,650	$4.934M	0.9%	$31.05	+5.3%	COM	049560105
INGR	INGREDION INC COM	71,300	$4.881M	0.9%	$70.28	-3.8%	COM	457187102
CSWC	CAPITAL SOUTHWEST CORP COM	137,956	$4.811M	0.9%	$4.41	-2.9%	COM	140501107
—	HOLMEN AB SHS B	132,017	$4.811M	0.9%	$26.74	—	COM	W4200N112
—	TEXTAINER GROUP HOLDINGS LTDSH	119,626	$4.811M	0.9%	$38.44	—	COM	G8766E109
WSM	WILLIAMS SONOMA INC COM	80,900	$4.715M	0.9%	$20.11	+4.9%	COM	969904101
662	ASIA FINANCIAL HOLDINGS LTD SH	10,866,415	$4.625M	0.9%	$0.45	—	COM	G0532X107
ALG	ALAMO GROUP INC COM	75,348	$4.573M	0.9%	$38.15	+27.3%	COM	011311107
SIG	SIGNET JEWELERS LIMITED SHS	57,550	$4.529M	0.9%	$54.92	+11.2%	COM	G81276100
ORN	ORION MARINE GROUP INC COM	371,978	$4.475M	0.9%	$10.70	+8.6%	COM	68628V308
MUR	MURPHY OIL CORP COM	65,900	$4.276M	0.8%	$34.54	+16.8%	COM	626717102
—	COLONIAL FINANCIAL SERVICES	315,449	$4.195M	0.8%	$13.50	—	COM	19566B101
—	PHOENIX COS INC NEW QUIBS 2032	182,912	$4.064M	0.8%	$23.91	—	PREFERRED STOCKS	71902E208
—	MAGAL SECURITY SYS LTD ORD	1,134,658	$4.04M	0.8%	$3.61	—	COM	M6786D104
THG	HANOVER INS GROUP INC COM	65,675	$3.921M	0.8%	$34.64	+21.5%	COM	410867105
KIM	KIMCO RLTY CORP COM	197,802	$3.907M	0.8%	$12.61	-7.8%	COM	49446R109
—	SCHULMAN A INC COM	110,771	$3.905M	0.8%	$26.82	—	COM	808194104
FEIM	FREQUENCY ELECTRS INC COM	330,409	$3.856M	0.7%	$7.91	+12.6%	COM	358010106
—	INVESTORS REAL ESTATE TR SH BE	442,815	$3.799M	0.7%	$8.60	—	COM	461730103
—	SANTONIA ENERGY INC COM	3,212,840	$3.718M	0.7%	$1.49	—	COM	803007103
—	CLIFTON SVGS BANCORP INC COM	290,369	$3.717M	0.7%	$11.93	—	COM	18712Q103
—	ENERGY TRANSFER PRTNRS L P UNI	58,064	$3.324M	0.6%	$50.53	—	COM	29273R109
—	DAWSON GEOPHYSICAL CO COM	96,519	$3.264M	0.6%	$36.86	—	COM	239359102
—	EMC INS GROUP INC	104,537	$3.201M	0.6%	$26.26	—	COM	268664109
BGOUF	BANG & OLUFSEN HLG ORD B	377,693	$3.2M	0.6%	$5.33	-10.8%	COM	K07774126
WST	WEST PHARMACEUTICAL SVCS INCCO	64,146	$3.147M	0.6%	$33.09	+33.6%	COM	955306105
—	KIMBALL INTL INC CL B	205,012	$3.081M	0.6%	$9.71	—	COM	494274103
—	EKORNES ASA ORD	219,528	$2.973M	0.6%	$14.84	—	COM	R20126109
—	NAUGATUCK VY FINL CORP	407,862	$2.953M	0.6%	$7.34	—	COM	63906P107
RYN	RAYONIER INC COM	64,835	$2.729M	0.5%	$42.09	—	COM	754907103
—	GASFRAC ENERGY SVCS INC COM	1,573,100	$2.664M	0.5%	$1.89	—	COM	367257201
MSADF	MS&AD INS GP HLDG (8725-JP)	96,302	$2.586M	0.5%	$8.23	+6.3%	COM	J4687C105
ELME	WASHINGTON REAL ESTATE INVT SH	106,090	$2.478M	0.5%	$26.36	—	COM	939653101
—	HESKA CORP COM RESTRC NEW	282,448	$2.463M	0.5%	$6.01	—	COM	42805E306
—	CHUBU NIPPON BROADCAST CO LTSH	428,137	$2.359M	0.5%	$5.73	—	COM	J06594105
MKL	MARKEL CORP COM	3,634	$2.109M	0.4%	$523.59	+3.6%	COM	570535104
—	HMN FINL INC COM	185,467	$1.96M	0.4%	$7.11	—	COM	40424G108
—	WASHINGTONFIRST BANKSHARES ICO	133,994	$1.916M	0.4%	$11.30	—	COM	940730104
—	AEGON N V NY REGISTRY SH	198,357	$1.88M	0.4%	$6.76	—	COM	007924103
—	CHUBB CORP	19,400	$1.875M	0.4%	$84.64	—	COM	171232101
—	ROYAL DUTCH SHELL PLC SPONS AD	25,950	$1.849M	0.4%	$63.98	—	COM	780259206
—	EXPRESS SCRIPTS HOLDING COMPAN	24,293	$1.706M	0.3%	$61.97	—	COM	30219G108
ALOT	ASTRO-MED INC NEW COM	123,436	$1.665M	0.3%	$9.12	+23.6%	COM	04638F108
—	MFS GOVT MKTS INCOME TR SH BEN	283,664	$1.625M	0.3%	$5.97	—	MUTUAL FUNDS	552939100
—	MFS INTERMARKET INCOME TR I SH	184,851	$1.499M	0.3%	$8.14	—	COM	59318R103
—	NEW YORK & CO INC COM	331,731	$1.45M	0.3%	$6.23	—	COM	649295102
—	LUBYS CAFETERIAS INC COM	183,959	$1.42M	0.3%	$8.45	—	COM	549282101
KO	COCA COLA CO COM	33,666	$1.391M	0.3%	$27.85	-3.3%	COM	191216100
—	CONSOLIDATED TOMOKA LD CO COM	37,834	$1.373M	0.3%	$38.17	—	COM	210226106
—	PEOPLES UNITED FINANCIAL INCCO	89,541	$1.354M	0.3%	$14.90	—	COM	712704105
—	SI FINANCIAL GROUP INC	111,908	$1.348M	0.3%	$11.05	—	COM	78425V104
—	GLOBAL TECH ADVANCED INNOVATIO	189,855	$1.202M	0.2%	$8.32	—	COM	G39320117
KIDBQ	KID BRANDS, INC. COM	1,118,949	$1.141M	0.2%	$1.44	-14.3%	COM	49375T100
AEGON 6.875 PERP	AEGON N V PFD PER 6.875%	43,958	$1.089M	0.2%	$24.92	—	PREFERRED STOCKS	N00927306
MET	METLIFE INC COM	20,000	$1.078M	0.2%	$24.43	+23.3%	COM	59156R108
WRB	BERKLEY W R CORP COM	24,322	$1.055M	0.2%	$9.58	+2.5%	COM	084423102
—	ARGO GROUP US INC SR NT 42	51,064	$1.032M	0.2%	$20.21	—	PREFERRED STOCKS	040130205
—	CURRENCYSHARES EURO TRUST	6,900	$938K	0.2%	$128.99	—	COM	23130C108
BMY	BRISTOL MYERS SQUIBB CO	17,373	$923K	0.2%	$28.67	+19.2%	COM	110122108
HGTXU	HUGOTON RTY TR TEX UNIT BEN IN	118,000	$885K	0.2%	$8.62	—	COM	444717102
INN	SUMMIT HOTEL PPTYS INC COM	93,999	$846K	0.2%	$9.30	—	COM	866082100
—	BROADWAY FINL CORP DEL COM	861,059	$800K	0.2%	$0.92	—	COM	111444105
—	STATE AUTO FINL CORP	37,100	$788K	0.2%	$18.18	—	COM	855707105
GD	GENERAL DYNAMICS CORP COM	8,000	$764K	0.1%	$56.44	+21.7%	COM	369550108
—	CORTS TR II PROVIDENT FING TCO	26,326	$745K	0.1%	$28.46	—	PREFERRED STOCKS	22081B200
—	AEGON N V SUB NT 8%42	26,300	$741K	0.1%	$27.79	—	PREFERRED STOCKS	007924608
ACCO	ACCO BRANDS CORP COM	107,493	$722K	0.1%	$4.71	-5.9%	COM	00081T108
—	GENERAL ELEC CO	25,408	$712K	0.1%	$23.25	—	COM	369604103
VWDRY	VESTAS WIND SYS AS UNSP ADR	71,700	$707K	0.1%	$4.73	—	COM	925458101
—	HESS CORP COM	8,070	$670K	0.1%	$66.54	—	COM	42809H107
ECL	ECOLAB INC COM	6,400	$667K	0.1%	$90.95	0.0%	COM	278865100
—	WEST MARINE INC COM	44,999	$640K	0.1%	$10.99	—	COM	954235107
—	ORYX INTERNATIONAL GROWTH FUND	95,000	$602K	0.1%	$4.48	—	COM	G6775Y108
OXM	OXFORD INDS INC COM	6,860	$554K	0.1%	$60.84	+19.7%	COM	691497309
—	VIASYSTEMS GROUP INC COM	36,048	$493K	0.1%	$11.53	—	COM	92553H803
—	WESTERN ASSET CLYM INFL OPP CO	42,704	$481K	0.1%	$11.49	—	COM	95766R104
WMT	WAL MART STORES INC	5,984	$471K	0.1%	$19.98	+1.8%	COM	931142103
PFE	PFIZER INC COM	14,892	$456K	0.1%	$16.46	+7.1%	COM	717081103
—	ROYCE OTC MICRO-CAP FD INC COM	34,407	$434K	0.1%	$10.95	—	COM	780915104
MSFT	MICROSOFT CORP COM	11,575	$433K	0.1%	$26.70	+12.4%	COM	594918104
—	FOREST CITY ENTERPRISES CLASS	22,300	$424K	0.1%	$17.80	—	COM	345550305
DVN	DEVON ENERGY CORP NEW COM	6,437	$398K	0.1%	$37.00	+10.9%	COM	25179M103
FRD	FRIEDMAN INDS INC	46,545	$396K	0.1%	$8.37	-1.6%	COM	358435105
JOE	ST JOE CO COM	20,000	$384K	0.1%	$18.58	0.0%	COM	790148100
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$383K	0.1%	$10.65	+17.2%	COM	493026108
GVDBF	GIVAUDAN AG GDR	257	$368K	0.1%	$1258.33	+11.8%	COM	H3238Q102
—	HAMPDEN BANCORP INC COM	21,138	$347K	0.1%	$14.91	—	COM	40867E107
COP	CONOCOPHILLIPS COM	3,822	$270K	0.1%	$39.96	+21.1%	COM	20825C104
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$269K	0.1%	$37.08	—	COM	G05384105
—	AEGON N V PERP CAP FLTG	13,440	$264K	0.1%	$19.64	—	PREFERRED STOCKS	007924509
MUEL	MUELLER PAUL CO	8,134	$258K	0.0%	$19.14	+56.8%	COM	624752101
PRMRF	PARAMOUNT RES LTD CL A	6,603	$257K	0.0%	$15.31	-2.8%	COM	699320206
—	NORTH VALLEY BANCORP COM NEW	13,180	$249K	0.0%	$16.52	—	COM	66304M204
—	NKSJ HOLDINGS INC SHS ISIN #JP	8,479	$236K	0.0%	$23.82	—	COM	J58699109
GTY	GETTY RLTY CORP NEW COM	12,804	$235K	0.0%	$20.62	—	COM	374297109
MOG/A	MOOG INC CL A	3,375	$229K	0.0%	$58.16	0.0%	COM	615394202
MMLP	MARTIN MIDSTREAM PRTNRS L P UN	5,000	$214K	0.0%	$42.80	—	COM	573331105
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$201K	0.0%	$10.96	0.0%	COM	J86298106
—	BLACKROCK MUNI N Y INTER DURCO	12,901	$170K	0.0%	$13.49	—	MUTUAL FUNDS	09255F109
—	BRUNSWICK BANCORP INC COM	30,816	$155K	0.0%	$4.97	—	COM	117030106
—	BLACKROCK NY INS MUN INC TR CO	10,189	$123K	0.0%	$12.07	—	MUTUAL FUNDS	09249U105
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$113K	0.0%	$7.34	0.0%	COM	096005301
—	ORION ENERGY SYSTEMS INC COM	15,883	$108K	0.0%	$2.48	—	COM	686275108
—	TETHYS PETROLEUM LIMITED USD O	30,000	$13,000	0.0%	$0.77	—	COM	G87636109
—	BOART LONGYEAR LTD SYDNEY NSSH	17,250	$6,000	0.0%	$0.64	—	COM	Q1645L104
—	AMR CORP DEL COM	11,200	$0	0.0%	$4.02	—	COM	001765106
LECH 5 09/27/01	LECHTERS INC 20010927	385,000	$0	0.0%	—	—	CONVERTIBLE BOND	U52323AA7
—	FAIRFAX FINL HLDGS LTD CONINGE	41,000	$0	0.0%	—	—	WARRANT AND RIGH	303901110
—	WELLS FARGO & CO PFD FRAC ACAT	97,400	$0	0.0%	—	—	PREFERRED STOCKS	KEK746889