Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	587,551	$20.2M	4.1%	$27.85	+26.2%	COM	91529Y106
EG	EVEREST RE GROUP	103,519	$16.77M	3.4%	$99.45	+28.0%	COM	G3223R108
NUE	NUCOR CORP	273,387	$14.84M	3.0%	$32.41	+23.5%	COM	670346105
HP	HELMERICH & PAYNE INC	149,045	$14.59M	2.9%	$61.96	+71.5%	COM	423452101
AIT	APPLIED INDL TECHNLGIES INC CO	285,444	$13.03M	2.6%	$36.74	+10.2%	COM	03820C105
LNT	ALLIANT CORP COM	225,664	$12.5M	2.5%	$16.89	+18.8%	COM	018802108
XOM	EXXON MOBIL CORPORATION	129,689	$12.2M	2.5%	$53.69	+14.6%	COM	30231G102
GRC	GORMAN RUPP CO	404,642	$12.15M	2.5%	$24.78	+28.1%	COM	383082104
—	ENERPLUS CORPORATION	581,078	$11.02M	2.2%	$14.90	—	COM	292766102
—	USA TRUCK INC COM	601,616	$10.55M	2.1%	$6.44	—	COM	902925106
—	MEADWESTVACO CORPORATION	234,625	$9.606M	1.9%	$34.11	—	COM	583334107
—	FOREST CITY ENTERPRISES CLASS	485,915	$9.504M	1.9%	$17.91	—	COM	345550107
—	ARGO GROUP INTL HLDGS LTD COM	185,658	$9.34M	1.9%	$42.39	—	COM	G0464B107
—	LYDALL INC COM	316,033	$8.536M	1.7%	$14.60	—	COM	550819106
—	TUESDAY MORNING CORP COM NEW	404,245	$7.844M	1.6%	$10.37	—	COM	899035505
—	URSTADT BIDDLE PPTYS INC CL A	373,267	$7.578M	1.5%	$20.17	—	COM	917286205
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	25,000	$7.407M	1.5%	$246.69	+19.0%	WARRANT AND RIGH	H69293217
—	PHOENIX COMPANIES INC COM NEW	131,179	$7.354M	1.5%	$43.63	—	COM	71902E604
—	PENN WEST PETROLEUM LTD	1,074,088	$7.251M	1.5%	$9.91	—	COM	707887105
—	PENGROWTH ENERGY CORPORATION	1,320,143	$6.865M	1.4%	$4.96	—	COM	70706P104
CALY	CALLAWAY GOLF CO COM	941,470	$6.816M	1.4%	$6.63	+16.4%	COM	131193104
—	FUEL SYS SOLUTIONS INC COM	710,567	$6.331M	1.3%	$15.13	—	COM	35952W103
PEP	PEPSICO INC	65,018	$6.053M	1.2%	$56.07	+15.7%	COM	713448108
—	CIMAREX ENERGY CO COM	47,381	$5.995M	1.2%	$64.99	—	COM	171798101
JNJ	JOHNSON & JOHNSON COM	55,754	$5.943M	1.2%	$59.66	+26.7%	COM	478160104
SCL	STEPAN CHEMICAL CO	133,582	$5.928M	1.2%	$54.51	-10.2%	COM	858586100
MRK	MERCK & COMPANY	99,926	$5.924M	1.2%	$30.06	+31.0%	COM	58933Y105
BA	BOEING CO	45,199	$5.757M	1.2%	$80.37	+35.9%	COM	097023105
—	CASTLE A M & CO	669,846	$5.72M	1.2%	$14.30	—	COM	148411101
UPS	UNITED PARCEL SVC INC CL B	57,490	$5.651M	1.1%	$55.38	+19.8%	COM	911312106
WSO	WATSCO INC	63,650	$5.485M	1.1%	$84.42	+9.5%	COM	942622200
INGR	INGREDION INC COM	70,300	$5.328M	1.1%	$70.28	+10.6%	COM	457187102
PTEN	PATTERSON-UTI ENERGY INC COM	156,384	$5.087M	1.0%	$21.83	+55.6%	COM	703481101
AMWD	AMERICAN WOODMARK CORP COM	135,563	$4.997M	1.0%	$34.11	+1.2%	COM	030506109
—	FIBRIA CELULOSE S.A. SP ADR	450,332	$4.954M	1.0%	$11.08	—	COM	31573A109
CSWC	CAPITAL SOUTHWEST CORP COM	137,956	$4.935M	1.0%	$4.41	+8.4%	COM	140501107
—	DAWSON GEOPHYSICAL CO COM	269,824	$4.905M	1.0%	$26.30	—	COM	239359102
TKOMY	TOKIO MARINE HOLDINGS INC	157,195	$4.876M	1.0%	$31.66	—	COM	889094108
—	PHOENIX COS INC NEW QUIBS 2032	194,478	$4.804M	1.0%	$23.87	—	PREFERRED STOCKS	71902E208
—	MAGAL SECURITY SYS LTD ORD	1,107,412	$4.751M	1.0%	$3.61	—	COM	M6786D104
662	ASIA FINANCIAL HOLDINGS LTD SH	11,424,415	$4.581M	0.9%	$0.45	—	COM	G0532X107
—	EKORNES ASA ORD	385,787	$4.58M	0.9%	$13.94	—	COM	R20126109
MFC	MANULIFE FINL CORP COM	237,500	$4.572M	0.9%	$15.16	+32.7%	COM	56501R106
—	INVESTORS REAL ESTATE TR SH BE	590,834	$4.549M	0.9%	$8.39	—	COM	461730103
TRMLF	TOURMALINE OIL CORP COM	97,067	$4.311M	0.9%	$32.91	-4.8%	COM	89156V106
—	COLONIAL FINANCIAL SERVICES	315,555	$4.194M	0.8%	$13.46	—	COM	19566B101
—	TEXTAINER GROUP HOLDINGS LTDSH	133,926	$4.168M	0.8%	$37.58	—	COM	G8766E109
KIM	KIMCO RLTY CORP COM	188,402	$4.128M	0.8%	$12.61	+5.5%	COM	49446R109
THG	HANOVER INS GROUP INC COM	65,675	$4.034M	0.8%	$34.64	+30.4%	COM	410867105
WSM	WILLIAMS SONOMA INC COM	60,500	$4.027M	0.8%	$20.11	+32.1%	COM	969904101
—	HOLMEN AB SHS B	131,117	$3.998M	0.8%	$26.74	—	COM	W4200N112
—	EMC INS GROUP INC	129,884	$3.751M	0.8%	$27.00	—	COM	268664109
MUR	MURPHY OIL CORP COM	65,900	$3.75M	0.8%	$34.54	+17.2%	COM	626717102
—	HESKA CORP COM RESTRC NEW	282,448	$3.725M	0.8%	$6.01	—	COM	42805E306
—	ENERGY TRANSFER PRTNRS L P UNI	58,064	$3.715M	0.7%	$50.53	—	COM	29273R109
ORN	ORION MARINE GROUP INC COM	371,978	$3.712M	0.7%	$10.70	-1.9%	COM	68628V308
BGOUF	BANG & OLUFSEN HLG ORD B	375,614	$3.633M	0.7%	$5.33	-0.8%	COM	K07774126
—	CLIFTON BANCORP INC COM	280,162	$3.527M	0.7%	$12.67	—	COM	186873105
FEIM	FREQUENCY ELECTRS INC COM	327,059	$3.49M	0.7%	$7.91	+12.2%	COM	358010106
—	VECTREN CORP COM	83,923	$3.349M	0.7%	$33.83	—	COM	92240G101
ALG	ALAMO GROUP INC COM	81,561	$3.344M	0.7%	$38.73	+16.8%	COM	011311107
—	SCHULMAN A INC COM	92,160	$3.332M	0.7%	$26.82	—	COM	808194104
—	NAUGATUCK VY FINL CORP	402,271	$3.146M	0.6%	$7.34	—	COM	63906P107
ATO	ATMOS ENERGY CORP COM	60,650	$2.893M	0.6%	$31.05	+21.8%	COM	049560105
WST	WEST PHARMACEUTICAL SVCS INCCO	64,146	$2.871M	0.6%	$33.09	+22.1%	COM	955306105
SIG	SIGNET JEWELERS LIMITED SHS	23,450	$2.671M	0.5%	$54.92	+63.5%	COM	G81276100
ELME	WASHINGTON REAL ESTATE INVT SH	101,960	$2.588M	0.5%	$26.36	—	COM	939653101
—	HMN FINL INC COM	184,467	$2.435M	0.5%	$7.11	—	COM	40424G108
—	GASFRAC ENERGY SVCS INC COM	2,154,900	$2.314M	0.5%	$1.67	—	COM	367257201
—	CHUBU NIPPON BROADCAST CO LTSH	420,837	$2.302M	0.5%	$5.73	—	COM	J06594105
MSADF	MS&AD INS GP HLDG (8725-JP)	96,302	$2.1M	0.4%	$8.23	-5.6%	COM	J4687C105
—	WASHINGTONFIRST BANKSHARES ICO	134,176	$2.013M	0.4%	$11.30	—	COM	940730104
RYN	RAYONIER INC COM	64,600	$2.012M	0.4%	$42.09	—	COM	754907103
—	ROYAL DUTCH SHELL PLC SPONS AD	25,950	$1.976M	0.4%	$63.98	—	COM	780259206
—	HARDINGE INC COM	179,806	$1.967M	0.4%	$11.94	—	COM	412324303
—	WESTERN ASSET CLYM INFL OPP CO	162,222	$1.88M	0.4%	$11.56	—	MUTUAL FUNDS	95766R104
—	CHUBB CORP	19,400	$1.767M	0.4%	$84.64	—	COM	171232101
—	CONSOLIDATED TOMOKA LD CO COM	35,784	$1.756M	0.4%	$38.17	—	COM	210226106
—	EXPRESS SCRIPTS HOLDING COMPAN	24,293	$1.716M	0.3%	$61.97	—	COM	30219G108
—	LUBYS CAFETERIAS INC COM	321,064	$1.708M	0.3%	$7.36	—	COM	549282101
FTEK	FUEL TECH INC COM	399,961	$1.7M	0.3%	$4.78	0.0%	COM	359523107
—	AEGON N V NY REGISTRY SH	205,178	$1.687M	0.3%	$6.82	—	COM	007924103
ALOT	ASTRO-MED INC NEW COM	123,436	$1.628M	0.3%	$9.12	+31.1%	COM	04638F108
BWEN	BROADWIND ENERGY INC COM NEW	210,342	$1.575M	0.3%	$8.69	0.0%	COM	11161T207
—	MFS INTERMARKET INCOME TR I SH	183,051	$1.528M	0.3%	$8.14	—	COM	59318R103
—	KIMBALL INTL INC CL B	98,123	$1.477M	0.3%	$9.71	—	COM	494274103
KO	COCA COLA CO COM	33,666	$1.436M	0.3%	$27.85	+3.6%	COM	191216100
—	BROADWAY FINL CORP DEL COM	834,413	$1.335M	0.3%	$0.92	—	COM	111444105
—	PEOPLES UNITED FINANCIAL INCCO	89,541	$1.296M	0.3%	$14.90	—	COM	712704105
—	ARGO GROUP US INC SR NT 42	51,064	$1.223M	0.2%	$20.21	—	PREFERRED STOCKS	040130205
—	SI FINANCIAL GROUP INC	106,757	$1.195M	0.2%	$11.05	—	COM	78425V104
WRB	BERKLEY W R CORP COM	24,322	$1.163M	0.2%	$9.58	+11.6%	COM	084423102
—	GLOBAL TECH ADVANCED INNOVATIO	193,355	$1.089M	0.2%	$8.28	—	COM	G39320117
MET	METLIFE INC COM	20,000	$1.074M	0.2%	$24.43	+36.2%	COM	59156R108
—	MFS GOVT MKTS INCOME TR SH BEN	188,125	$1.072M	0.2%	$5.97	—	MUTUAL FUNDS	552939100
—	NEW YORK & CO INC COM	352,092	$1.067M	0.2%	$6.05	—	COM	649295102
GD	GENERAL DYNAMICS CORP COM	8,000	$1.017M	0.2%	$56.44	+68.4%	COM	369550108
INN	SUMMIT HOTEL PPTYS INC COM	94,049	$1.014M	0.2%	$9.30	—	COM	866082100
BMY	BRISTOL MYERS SQUIBB CO	17,073	$874K	0.2%	$28.67	+19.4%	COM	110122108
—	STATE AUTO FINL CORP	37,100	$761K	0.2%	$18.18	—	COM	855707105
—	HESS CORP COM	8,070	$761K	0.2%	$66.54	—	COM	42809H107
ECL	ECOLAB INC COM	6,400	$735K	0.1%	$90.95	+9.1%	COM	278865100
—	CURRENCYSHARES EURO TRUST	5,900	$734K	0.1%	$128.99	—	COM	23130C108
—	AEGON N V SUB NT 8%42	25,700	$733K	0.1%	$27.79	—	PREFERRED STOCKS	007924608
RYAM	RAYONIER ADVANCED MATLS INC CO	21,528	$708K	0.1%	$38.47	-8.8%	COM	75508B104
VWDRY	VESTAS WIND SYS AS UNSP ADR	52,600	$686K	0.1%	$4.73	—	COM	925458101
—	GENERAL ELEC CO	25,408	$651K	0.1%	$23.25	—	COM	369604103
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$484K	0.1%	$10.65	+26.4%	COM	493026108
—	VIASYSTEMS GROUP INC COM	30,069	$472K	0.1%	$11.53	—	COM	92553H803
WMT	WAL MART STORES INC	5,984	$458K	0.1%	$19.98	+1.6%	COM	931142103
PFE	PFIZER INC COM	14,892	$440K	0.1%	$16.46	+6.0%	COM	717081103
DVN	DEVON ENERGY CORP NEW COM	6,437	$439K	0.1%	$37.00	+35.9%	COM	25179M103
—	WESTERN ASSET CLYM INFL SEC CO	37,739	$436K	0.1%	$11.55	—	MUTUAL FUNDS	95766Q106
—	FOREST CITY ENTERPRISES CLASS	22,300	$434K	0.1%	$17.80	—	COM	345550305
GVDBF	GIVAUDAN AG GDR	257	$411K	0.1%	$1258.33	+30.6%	COM	H3238Q102
—	ROYCE OTC MICRO-CAP FD INC COM	34,407	$405K	0.1%	$10.95	—	COM	780915104
—	WEST MARINE INC COM	44,999	$405K	0.1%	$10.99	—	COM	954235107
JOE	ST JOE CO COM	20,000	$399K	0.1%	$18.58	+20.8%	COM	790148100
MSFT	MICROSOFT CORP COM	8,275	$384K	0.1%	$26.70	+41.0%	COM	594918104
FRD	FRIEDMAN INDS INC	46,545	$370K	0.1%	$8.37	-11.7%	COM	358435105
—	HAMPDEN BANCORP INC COM	21,138	$363K	0.1%	$14.91	—	COM	40867E107
—	AEGON N V PERP CAP FLTG	13,440	$318K	0.1%	$19.64	—	PREFERRED STOCKS	007924509
COP	CONOCOPHILLIPS COM	3,822	$292K	0.1%	$39.96	+41.9%	COM	20825C104
—	NORTH VALLEY BANCORP COM NEW	13,180	$284K	0.1%	$16.52	—	COM	66304M204
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$278K	0.1%	$37.08	—	COM	G05384105
—	ORYX INTERNATIONAL GROWTH FUND	44,263	$276K	0.1%	$4.48	—	COM	G6775Y108
—	HI-CRUSH PARTNERS LP COM UNIT	5,000	$258K	0.1%	$40.32	—	COM	428337109
MOG/A	MOOG INC CL A	3,375	$231K	0.0%	$58.16	+10.3%	COM	615394202
GTY	GETTY RLTY CORP NEW COM	12,804	$218K	0.0%	$20.62	—	COM	374297109
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$207K	0.0%	$199815.62	0.0%	COM	084670108
—	SOMPO JAPAN NIPPONKOA HLDGS SH	8,480	$206K	0.0%	$24.29	—	COM	J7618E108
—	BLACKROCK MUNI N Y INTER DURCO	12,901	$177K	0.0%	$13.49	—	MUTUAL FUNDS	09255F109
—	BRUNSWICK BANCORP INC COM	32,916	$157K	0.0%	$4.96	—	COM	117030106
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$139K	0.0%	$7.34	+16.5%	COM	096005301
—	BLACKROCK NY INS MUN INC TR CO	10,189	$133K	0.0%	$12.07	—	MUTUAL FUNDS	09249U105
—	RENESOLA LTD SPONS ADS	36,901	$111K	0.0%	$3.10	—	COM	75971T103
GNLAF	GENESIS LAND DEV CORP COM	24,500	$107K	0.0%	$3.94	+6.7%	COM	37183V102
—	ORION ENERGY SYSTEMS INC COM	15,883	$85,000	0.0%	$2.48	—	COM	686275108
—	TETHYS PETROLEUM LIMITED USD O	30,000	$9,000	0.0%	$0.77	—	COM	G87636109
—	BOART LONGYEAR LTD SYDNEY NSSH	17,250	$3,000	0.0%	$0.64	—	COM	Q1645L104
KIDBQ	KID BRANDS, INC. COM	766,305	$2,000	0.0%	$1.44	-99.8%	COM	49375T100
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
—	AMR CORP DEL COM	11,200	$0	0.0%	$4.02	—	COM	001765106