Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	596,601	$19.14M	4.4%	$27.92	+23.4%	COM	91529Y106
EG	EVEREST RE GROUP	95,651	$16.58M	3.8%	$99.45	+46.1%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	292,494	$11.16M	2.6%	$36.66	-8.6%	COM	03820C105
GRC	GORMAN RUPP CO	443,998	$10.64M	2.5%	$24.90	-0.6%	COM	383082104
—	ARGO GROUP INTL HLDGS LTD COM	187,871	$10.63M	2.5%	$43.08	—	COM	G0464B107
NUE	NUCOR CORP	270,287	$10.15M	2.3%	$32.41	+3.4%	COM	670346105
—	FOREST CITY ENTERPRISES CLASS	483,915	$9.741M	2.2%	$17.91	—	COM	345550107
—	PHOENIX COMPANIES INC COM NEW	278,747	$9.196M	2.1%	$34.38	—	COM	71902E604
LNT	ALLIANT CORP COM	156,519	$9.155M	2.1%	$16.89	+25.5%	COM	018802108
—	LYDALL INC COM	308,333	$8.784M	2.0%	$14.60	—	COM	550819106
—	HESKA CORP COM RESTRC NEW	265,139	$8.081M	1.9%	$6.01	—	COM	42805E306
CALY	CALLAWAY GOLF CO COM	951,668	$7.946M	1.8%	$6.64	+29.9%	COM	131193104
—	WESTROCK CO COM	153,007	$7.871M	1.8%	$51.44	—	COM	96145D105
MUR	MURPHY OIL CORP COM	309,250	$7.484M	1.7%	$28.35	-24.1%	COM	626717102
WSO	WATSCO INC	62,550	$7.411M	1.7%	$84.42	+47.7%	COM	942622200
HP	HELMERICH & PAYNE INC	155,045	$7.328M	1.7%	$61.76	-8.3%	COM	423452101
SCL	STEPAN CHEMICAL CO	174,058	$7.243M	1.7%	$51.68	-9.9%	COM	858586100
XOM	EXXON MOBIL CORPORATION	89,689	$6.668M	1.5%	$53.69	-8.6%	COM	30231G102
—	INVESTORS REAL ESTATE TR SH BE	834,241	$6.457M	1.5%	$8.13	—	COM	461730103
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$6.282M	1.4%	$4.41	+40.5%	COM	140501107
—	USA TRUCK INC COM	359,415	$6.193M	1.4%	$6.44	—	COM	902925106
PEP	PEPSICO INC	65,018	$6.131M	1.4%	$56.07	+24.0%	COM	713448108
AMWD	AMERICAN WOODMARK CORP COM	90,539	$5.873M	1.4%	$34.11	+85.4%	COM	030506109
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.427M	1.3%	$55.38	+22.4%	COM	911312106
BA	BOEING CO	41,199	$5.395M	1.2%	$80.37	+53.4%	COM	097023105
—	PHOENIX COS INC NEW QUIBS 2032	263,633	$5.381M	1.2%	$22.93	—	PREFERRED STOCKS	71902E208
—	FIBRIA CELULOSE S.A. SP ADR	395,881	$5.368M	1.2%	$11.08	—	COM	31573A109
JNJ	JOHNSON & JOHNSON COM	56,554	$5.28M	1.2%	$59.87	+21.1%	COM	478160104
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	20,000	$5.26M	1.2%	$246.69	+12.3%	WARRANT AND RIGH	H69293217
—	EKORNES ASA ORD	465,336	$5.209M	1.2%	$13.70	—	COM	R20126109
—	TEXTAINER GROUP HOLDINGS LTDSH	314,626	$5.188M	1.2%	$26.77	—	COM	G8766E109
INGR	INGREDION INC COM	59,300	$5.177M	1.2%	$70.28	+22.0%	COM	457187102
662	ASIA FINANCIAL HOLDINGS LTD SH	13,144,415	$5.02M	1.2%	$0.44	—	COM	G0532X107
—	MAGAL SECURITY SYS LTD ORD	1,176,563	$4.93M	1.1%	$3.66	—	COM	M6786D104
—	URSTADT BIDDLE PPTYS INC CL A	249,277	$4.671M	1.1%	$20.17	—	COM	917286205
—	EMC INS GROUP INC	194,296	$4.509M	1.0%	$26.36	—	COM	268664109
—	HOLMEN AB SHS B	155,117	$4.338M	1.0%	$27.02	—	COM	W4200N112
RYN	RAYONIER INC COM	196,587	$4.338M	1.0%	$31.02	—	COM	754907103
—	NAUGATUCK VY FINL CORP	390,666	$4.235M	1.0%	$7.34	—	COM	63906P107
—	CLIFTON BANCORP INC COM	302,608	$4.2M	1.0%	$12.76	—	COM	186873105
BGOUF	BANG & OLUFSEN HLG ORD B	595,110	$4.132M	1.0%	$4.75	-15.9%	COM	K07774126
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,054,694	$4.018M	0.9%	$4.61	-23.9%	COM	239360100
—	FUEL SYS SOLUTIONS INC COM	815,802	$3.94M	0.9%	$13.35	—	COM	35952W103
ALG	ALAMO GROUP INC COM	81,561	$3.813M	0.9%	$38.73	+23.3%	COM	011311107
MFC	MANULIFE FINL CORP COM	237,500	$3.677M	0.8%	$15.16	+10.7%	COM	56501R106
WSM	WILLIAMS SONOMA INC COM	47,300	$3.611M	0.8%	$20.11	+58.1%	COM	969904101
—	ENERPLUS CORPORATION	740,910	$3.601M	0.8%	$13.22	—	COM	292766102
WST	WEST PHARMACEUTICAL SVCS INCCO	63,446	$3.434M	0.8%	$33.09	+68.9%	COM	955306105
FEIM	FREQUENCY ELECTRS INC COM	330,409	$3.426M	0.8%	$7.91	+8.9%	COM	358010106
TRMLF	TOURMALINE OIL CORP COM	141,917	$3.288M	0.8%	$27.46	-40.8%	COM	89156V106
ORN	ORION MARINE GROUP INC COM	543,138	$3.248M	0.7%	$9.65	-27.7%	COM	68628V308
—	CIMAREX ENERGY CO COM	31,381	$3.216M	0.7%	$64.99	—	COM	171798101
THG	HANOVER INS GROUP INC COM	39,296	$3.053M	0.7%	$34.64	+70.3%	COM	410867105
—	TUESDAY MORNING CORP COM NEW	512,183	$2.771M	0.6%	$9.40	—	COM	899035505
GD	GENERAL DYNAMICS CORP COM	20,000	$2.759M	0.6%	$91.86	+25.7%	COM	369550108
—	SCHULMAN A INC COM	84,010	$2.727M	0.6%	$26.82	—	COM	808194104
KIM	KIMCO RLTY CORP COM	108,802	$2.658M	0.6%	$12.61	+14.9%	COM	49446R109
—	AEGON N V NY REGISTRY SH	456,452	$2.625M	0.6%	$6.92	—	COM	007924103
MSADF	MS&AD INS GP HLDG (8725-JP)	96,302	$2.567M	0.6%	$8.23	+24.1%	COM	J4687C105
—	PENGROWTH ENERGY CORPORATION	2,932,008	$2.522M	0.6%	$3.20	—	COM	70706P104
—	HARDINGE INC COM	270,595	$2.481M	0.6%	$11.29	—	COM	412324303
ELME	WASHINGTON REAL ESTATE INVT SH	96,860	$2.415M	0.6%	$26.20	—	COM	939653101
SIG	SIGNET JEWELERS LIMITED SHS	17,570	$2.392M	0.6%	$54.92	+90.9%	COM	G81276100
—	CHUBB CORP	19,400	$2.379M	0.5%	$84.64	—	COM	171232101
—	WASHINGTONFIRST BANKSHARES ICO	123,486	$2.275M	0.5%	$11.67	—	COM	940730104
RYAM	RAYONIER ADVANCED MATLS INC CO	363,738	$2.226M	0.5%	$16.55	-38.9%	COM	75508B104
—	CHUBU NIPPON BROADCAST CO LTSH	418,937	$2.137M	0.5%	$5.73	—	COM	J06594105
—	HMN FINL INC COM	183,319	$2.11M	0.5%	$7.17	—	COM	40424G108
—	WESTERN ASSET CLYM INFL OPP CO	202,459	$2.105M	0.5%	$11.42	—	MUTUAL FUNDS	95766R104
—	CASTLE A M & CO	939,646	$2.086M	0.5%	$11.30	—	COM	148411101
TKOMY	TOKIO MARINE HOLDINGS INC	56,195	$2.084M	0.5%	$31.66	—	COM	889094108
—	CAPE BANCORP INC COM	158,481	$1.967M	0.5%	$9.46	—	COM	139209100
—	CONSOLIDATED TOMOKA LD CO COM	37,834	$1.884M	0.4%	$38.80	—	COM	210226106
—	ENERGY TRANSFER PRTNRS L P UNI	45,686	$1.876M	0.4%	$50.53	—	COM	29273R109
ATO	ATMOS ENERGY CORP COM	31,450	$1.83M	0.4%	$31.05	+38.1%	COM	049560105
—	EXPRESS SCRIPTS HOLDING COMPAN	21,985	$1.78M	0.4%	$61.97	—	COM	30219G108
—	LUBYS CAFETERIAS INC COM	357,464	$1.777M	0.4%	$7.07	—	COM	549282101
ALOT	ASTRO-MED INC NEW COM	123,436	$1.711M	0.4%	$9.12	+37.9%	COM	04638F108
—	BROADWAY FINL CORP DEL COM	1,345,776	$1.628M	0.4%	$1.07	—	COM	111444105
MRK	MERCK & COMPANY	32,159	$1.588M	0.4%	$30.17	+27.3%	COM	58933Y105
PTEN	PATTERSON-UTI ENERGY INC COM	119,500	$1.57M	0.4%	$21.83	-27.4%	COM	703481101
FTEK	FUEL TECH INC COM	786,791	$1.503M	0.3%	$3.87	-47.7%	COM	359523107
BWEN	BROADWIND ENERGY INC COM NEW	725,326	$1.501M	0.3%	$5.89	-43.3%	COM	11161T207
TWIN	TWIN DISC INC COM	113,504	$1.409M	0.3%	$14.53	-2.5%	COM	901476101
—	WESTERN ASSET CLYM INFL SEC CO	132,149	$1.394M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
KO	COCA COLA CO COM	33,666	$1.351M	0.3%	$27.85	+3.5%	COM	191216100
—	GLOBAL TECH ADVANCED INNOVATIO	219,248	$1.348M	0.3%	$7.82	—	COM	G39320117
WRB	BERKLEY W R CORP COM	24,322	$1.322M	0.3%	$9.58	+35.6%	COM	084423102
—	SI FINANCIAL GROUP INC	104,516	$1.244M	0.3%	$11.05	—	COM	78425V104
—	ARGO GROUP US INC SR NT 42	49,264	$1.239M	0.3%	$20.21	—	PREFERRED STOCKS	040130205
—	ROYAL DUTCH SHELL PLC SPONS AD	25,950	$1.23M	0.3%	$63.98	—	COM	780259206
—	NEW YORK & CO INC COM	449,739	$1.115M	0.3%	$5.30	—	COM	649295102
INN	SUMMIT HOTEL PPTYS INC COM	94,049	$1.098M	0.3%	$9.30	—	COM	866082100
—	VECTREN CORP COM	25,635	$1.077M	0.2%	$33.83	—	COM	92240G101
FSLR	FIRST SOLAR INC COM	23,650	$1.011M	0.2%	$46.26	0.0%	COM	336433107
BMY	BRISTOL MYERS SQUIBB CO	16,548	$980K	0.2%	$28.67	+55.4%	COM	110122108
TWI	TITAN INTL INC ILL COM	143,242	$947K	0.2%	$8.90	-3.9%	COM	88830M102
MET	METLIFE INC COM	20,000	$943K	0.2%	$24.43	+34.7%	COM	59156R108
—	KIMBALL INTL INC CL B	98,123	$928K	0.2%	$9.71	—	COM	494274103
VWDRY	VESTAS WIND SYS AS UNSP ADR	51,100	$883K	0.2%	$4.73	—	COM	925458101
KE	KIMBALL ELECTRONICS INC COM	73,591	$878K	0.2%	$10.71	+15.4%	COM	49428J109
—	STATE AUTO FINL CORP	37,100	$846K	0.2%	$18.18	—	COM	855707105
—	AEGON N V SUB NT 8%42	25,700	$707K	0.2%	$27.79	—	PREFERRED STOCKS	007924608
ECL	ECOLAB INC COM	6,400	$702K	0.2%	$90.95	+9.7%	COM	278865100
—	PENN WEST PETROLEUM LTD	1,500,780	$676K	0.2%	$6.12	—	COM	707887105
—	CURRENCYSHARES EURO TRUST	5,900	$647K	0.1%	$128.99	—	COM	23130C108
—	GENERAL ELEC CO	25,564	$645K	0.1%	$23.28	—	COM	369604103
GNLAF	GENESIS LAND DEV CORP COM	228,200	$511K	0.1%	$3.08	-6.6%	COM	37183V102
PFE	PFIZER INC COM	14,973	$470K	0.1%	$16.46	+25.2%	COM	717081103
—	FOREST CITY ENTERPRISES CLASS	22,300	$467K	0.1%	$17.80	—	COM	345550305
—	AEGON N V PERP CAP FLTG	18,040	$435K	0.1%	$20.63	—	PREFERRED STOCKS	007924509
MSFT	MICROSOFT CORP COM	9,665	$428K	0.1%	$28.51	+36.5%	COM	594918104
AAPL	APPLE COMPUTER INC COM	3,795	$419K	0.1%	$24.08	+9.1%	COM	037833100
GVDBF	GIVAUDAN AG GDR	257	$417K	0.1%	$1258.33	+39.6%	COM	H3238Q102
WMT	WAL MART STORES INC	6,114	$396K	0.1%	$20.00	-5.5%	COM	931142103
—	WEST MARINE INC COM	44,999	$395K	0.1%	$10.99	—	COM	954235107
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$361K	0.1%	$10.65	+13.7%	COM	493026108
—	MFS GOVT MKTS INCOME TR SH BEN	63,230	$340K	0.1%	$5.97	—	MUTUAL FUNDS	552939100
—	ROYCE OTC MICRO-CAP FD INC COM	42,923	$332K	0.1%	$10.72	—	COM	780915104
—	ORYX INTERNATIONAL GROWTH FUND	34,964	$310K	0.1%	$4.48	—	COM	G6775Y108
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$302K	0.1%	$37.08	—	COM	G05384105
FRD	FRIEDMAN INDS INC	46,545	$279K	0.1%	$8.37	-35.8%	COM	358435105
—	UNITED TECHNOLOGIES CORP	3,000	$267K	0.1%	$89.00	—	COM	913017109
—	BRUNSWICK BANCORP INC COM	44,352	$244K	0.1%	$4.93	—	COM	117030106
DVN	DEVON ENERGY CORP NEW COM	6,437	$239K	0.1%	$37.00	-14.8%	COM	25179M103
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$223K	0.1%	$11.62	+14.7%	COM	J86298106
—	BLACKROCK NY INS MUN INC TR CO	17,147	$222K	0.1%	$12.95	—	MUTUAL FUNDS	09249U105
—	ROYCE GLOBAL VALUE TR INC COM	29,731	$208K	0.0%	$7.00	—	COM	78081T104
—	BLACKROCK MUNIHOLDINGS FD INCO	12,369	$207K	0.0%	$16.74	—	MUTUAL FUNDS	09253N104
GTY	GETTY RLTY CORP NEW COM	12,804	$202K	0.0%	$20.62	—	COM	374297109
—	BOULDER GROWTH & INCOME FD ICO	21,560	$161K	0.0%	$7.98	—	COM	101507101
—	BLACKROCK MUNI N Y INTER DURCO	11,601	$161K	0.0%	$13.49	—	MUTUAL FUNDS	09255F109
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$131K	0.0%	$7.34	+7.2%	COM	096005301
—	NOVA LIFESTYLE INC COM	48,100	$110K	0.0%	$1.87	—	COM	66979P102
—	RENESOLA LTD SPONS ADS	36,901	$36,000	0.0%	$3.10	—	COM	75971T103
—	ORION ENERGY SYSTEMS INC COM	15,883	$29,000	0.0%	$2.48	—	COM	686275108
—	TETHYS PETROLEUM LIMITED USD O	30,000	$2,000	0.0%	$0.77	—	COM	G87636109
—	BOART LONGYEAR LTD SYDNEY NSSH	17,250	$1,000	0.0%	$0.64	—	COM	Q1645L104
—	GASFRAC ENERGY SVCS INC COM	1,366,800	$0	0.0%	$1.29	—	COM	367257201
KIDBQ	KID BRANDS, INC. COM	329,769	$0	0.0%	$1.44	-99.9%	COM	49375T100
—	FAIRFAX FINL HLDGS LTD CONINGE	41,000	$0	0.0%	—	—	WARRANT AND RIGH	303901110
LECH 5 09/27/01	LECHTERS INC 20010927	385,000	$0	0.0%	—	—	CONVERTIBLE BOND	U52323AA7