Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	624,505	$19.85M	4.5%	$28.04	+20.6%	COM	91529Y106
EG	EVEREST RE GROUP	81,163	$14.83M	3.3%	$99.45	+51.1%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	294,094	$13.28M	3.0%	$36.66	+5.7%	COM	03820C105
NUE	NUCOR CORP	242,287	$11.97M	2.7%	$32.41	+20.8%	COM	670346105
HP	HELMERICH & PAYNE INC	177,645	$11.93M	2.7%	$60.30	+2.5%	COM	423452101
MUR	MURPHY OIL CORP COM	346,150	$10.99M	2.5%	$25.74	-17.2%	COM	626717102
GRC	GORMAN RUPP CO	381,842	$10.47M	2.4%	$24.90	+11.9%	COM	383082104
—	FOREST CITY REALTY TRUST CL A	457,515	$10.21M	2.3%	$21.09	—	COM	345605109
SCL	STEPAN CHEMICAL CO	161,756	$9.629M	2.2%	$51.68	+13.6%	COM	858586100
—	ARGO GROUP INTL HLDGS LTD COM	184,403	$9.571M	2.2%	$43.88	—	COM	G0464B107
—	LYDALL INC COM	230,230	$8.878M	2.0%	$14.60	—	COM	550819106
—	HESKA CORP COM RESTRC NEW	230,964	$8.585M	1.9%	$6.01	—	COM	42805E306
CALY	CALLAWAY GOLF CO COM	832,118	$8.496M	1.9%	$6.64	+43.4%	COM	131193104
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,038,884	$8.467M	1.9%	$4.49	+10.5%	COM	239360100
662	ASIA FINANCIAL HOLDINGS LTD SH	13,290,415	$8.05M	1.8%	$0.45	—	COM	G0532X107
WSO	WATSCO INC	56,550	$7.956M	1.8%	$84.42	+59.0%	COM	942622200
—	ALLIANT CORP COM	198,448	$7.878M	1.8%	$39.70	—	COM	18802108
INGR	INGREDION INC COM	58,620	$7.586M	1.7%	$70.28	+65.6%	COM	457187102
PEP	PEPSICO INC	64,518	$6.835M	1.5%	$56.07	+37.5%	COM	713448108
MFC	MANULIFE FINL CORP COM	448,450	$6.13M	1.4%	$14.34	-0.7%	COM	56501R106
—	INVESTORS REAL ESTATE TR SH BE	918,441	$5.942M	1.3%	$8.04	—	COM	461730103
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.924M	1.3%	$55.38	+32.0%	COM	911312106
—	USA TRUCK INC COM	335,215	$5.87M	1.3%	$6.44	—	COM	902925106
—	WESTROCK CO COM	145,506	$5.655M	1.3%	$51.44	—	COM	96145D105
—	MAGAL SECURITY SYS LTD ORD	1,173,216	$5.596M	1.3%	$3.66	—	COM	M6786D104
JNJ	JOHNSON & JOHNSON COM	45,866	$5.564M	1.3%	$59.87	+45.4%	COM	478160104
RYN	RAYONIER INC COM	203,787	$5.348M	1.2%	$30.80	—	COM	754907103
—	ALAMO GROUP INC COM	80,461	$5.308M	1.2%	$65.97	—	COM	11311107
—	EMC INS GROUP INC	191,058	$5.296M	1.2%	$26.36	—	COM	268664109
—	TEXTAINER GROUP HOLDINGS LTDSH	472,686	$5.265M	1.2%	$22.34	—	COM	G8766E109
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	20,000	$5.258M	1.2%	$246.69	+3.0%	WARRANT AND RIGH	H69293217
—	PHOENIX COS INC NEW QUIBS 2032	272,993	$5.165M	1.2%	$22.77	—	PREFERRED STOCKS	71902E208
BGOUF	BANG & OLUFSEN HLG ORD B	578,110	$5.034M	1.1%	$4.75	+8.9%	COM	K07774126
—	EKORNES ASA ORD	462,343	$5.028M	1.1%	$13.70	—	COM	R20126109
—	HOLMEN AB SHS B	154,317	$4.91M	1.1%	$27.02	—	COM	W4200N112
WST	WEST PHARMACEUTICAL SVCS INCCO	62,946	$4.776M	1.1%	$33.09	+112.2%	COM	955306105
RYAM	RAYONIER ADVANCED MATLS INC CO	346,302	$4.706M	1.1%	$16.55	-26.0%	COM	75508B104
—	PENGROWTH ENERGY CORPORATION	2,550,934	$4.694M	1.1%	$3.01	—	COM	70706P104
XOM	EXXON MOBIL CORPORATION	45,427	$4.258M	1.0%	$53.69	+7.8%	COM	30231G102
ORN	ORION MARINE GROUP INC COM	780,084	$4.142M	0.9%	$8.01	-34.8%	COM	68628V308
—	BOEING CO	30,999	$4.026M	0.9%	$129.88	—	COM	97023105
—	CLIFTON BANCORP INC COM	263,785	$3.975M	0.9%	$12.76	—	COM	186873105
GD	GENERAL DYNAMICS CORP COM	28,000	$3.899M	0.9%	$96.13	+17.6%	COM	369550108
—	TUESDAY MORNING CORP COM NEW	553,455	$3.885M	0.9%	$9.26	—	COM	899035505
—	AMERICAN WOODMARK CORP COM	58,231	$3.865M	0.9%	$66.37	—	COM	30506109
—	FIBRIA CELULOSE S.A. SP ADR	563,781	$3.811M	0.9%	$9.79	—	COM	31573A109
—	ENERPLUS CORPORATION	539,196	$3.543M	0.8%	$12.06	—	COM	292766102
BWEN	BROADWIND ENERGY INC COM NEW	818,454	$3.454M	0.8%	$5.26	-30.5%	COM	11161T207
—	WESTPORT INNOVATIONS INC COM N	1,868,451	$3.12M	0.7%	$1.77	—	COM	960908309
FEIM	FREQUENCY ELECTRS INC COM	332,885	$3.096M	0.7%	$7.91	-1.3%	COM	358010106
CSW	CSW INDUSTRIALS INC COM	90,857	$2.963M	0.7%	$34.83	-9.6%	COM	126402106
—	URSTADT BIDDLE PPTYS INC CL A	117,277	$2.907M	0.7%	$20.17	—	COM	917286205
—	AEGON N V NY REGISTRY SH	717,259	$2.877M	0.6%	$4.01	—	COM	7924103
INN	SUMMIT HOTEL PPTYS INC COM	212,249	$2.81M	0.6%	$10.79	—	COM	866082100
—	HARDINGE INC COM	276,916	$2.786M	0.6%	$11.28	—	COM	412324303
SIG	SIGNET JEWELERS LIMITED SHS	33,220	$2.738M	0.6%	$70.15	+19.1%	COM	G81276100
TRMLF	TOURMALINE OIL CORP COM	102,383	$2.683M	0.6%	$27.46	-45.3%	COM	89156V106
—	CHUBU NIPPON BROADCAST CO LTSH	418,937	$2.521M	0.6%	$5.73	—	COM	J06594105
TWI	TITAN INTL INC ILL COM	401,428	$2.489M	0.6%	$6.52	-6.0%	COM	88830M102
TWIN	TWIN DISC INC COM	229,302	$2.463M	0.6%	$12.28	-17.1%	COM	901476101
MSADF	MS&AD INS GP HLDG (8725-JP)	96,302	$2.461M	0.6%	$8.23	+11.5%	COM	J4687C105
—	HMN FINL INC COM	180,490	$2.451M	0.6%	$7.17	—	COM	40424G108
WSM	WILLIAMS SONOMA INC COM	47,000	$2.45M	0.6%	$20.11	+8.3%	COM	969904101
—	BROADWAY FINL CORP DEL COM	1,348,214	$2.44M	0.6%	$1.07	—	COM	111444105
KIM	KIMCO RLTY CORP COM	77,202	$2.423M	0.5%	$13.36	+33.9%	COM	49446R109
—	WESTERN ASSET CLYM INFL OPP CO	209,559	$2.328M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
—	WASHINGTONFIRST BANKSHARES ICO	105,106	$2.271M	0.5%	$11.67	—	COM	940730104
—	SCHULMAN A INC COM	83,910	$2.049M	0.5%	$26.82	—	COM	808194104
ELME	WASHINGTON REAL ESTATE INVT SH	64,810	$2.039M	0.5%	$26.20	—	COM	939653101
FSLR	FIRST SOLAR INC COM	40,150	$1.946M	0.4%	$49.14	+8.4%	COM	336433107
—	LUBYS CAFETERIAS INC COM	384,264	$1.929M	0.4%	$6.91	—	COM	549282101
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$1.915M	0.4%	$39.25	—	COM	210226106
TKOMY	TOKIO MARINE HOLDINGS INC	55,825	$1.832M	0.4%	$31.66	—	COM	889094108
OCFC	OCEANFIRST FINL CORP COM	100,302	$1.822M	0.4%	$12.81	0.0%	COM	675234108
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$1.812M	0.4%	$4.41	+11.5%	COM	140501107
ALOT	ASTRO-MED INC NEW COM	112,686	$1.715M	0.4%	$9.12	+48.0%	COM	04638F108
THG	HANOVER INS GROUP INC COM	19,825	$1.678M	0.4%	$34.95	+86.4%	COM	410867105
—	EXPRESS SCRIPTS HOLDING COMPAN	21,985	$1.666M	0.4%	$61.97	—	COM	30219G108
—	PENN WEST PETROLEUM LTD	1,111,703	$1.545M	0.3%	$6.12	—	COM	707887105
—	WESTERN ASSET CLYM INFL SEC CO	132,149	$1.517M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
—	NEW YORK & CO INC COM	981,174	$1.462M	0.3%	$3.11	—	COM	649295102
—	BERKLEY W R CORP COM	24,322	$1.457M	0.3%	$59.90	—	COM	84423102
MRK	MERCK & COMPANY	25,159	$1.45M	0.3%	$30.17	+30.9%	COM	58933Y105
—	ROYAL DUTCH SHELL PLC SPONS AD	25,790	$1.424M	0.3%	$63.98	—	COM	780259206
FTEK	FUEL TECH INC COM	960,841	$1.422M	0.3%	$3.48	-53.9%	COM	359523107
—	ARGO GROUP US INC SR NT 42	51,264	$1.347M	0.3%	$26.28	—	PREFERRED STOCKS	40130205
—	CIMAREX ENERGY CO COM	10,968	$1.309M	0.3%	$64.99	—	COM	171798101
—	CASTLE A M & CO	740,328	$1.214M	0.3%	$11.18	—	COM	148411101
VWDRY	VESTAS WIND SYS AS UNSP ADR	51,100	$1.151M	0.3%	$4.73	—	COM	925458101
—	KIMBALL INTL INC CL B	96,672	$1.1M	0.2%	$9.71	—	COM	494274103
—	SI FINANCIAL GROUP INC	82,776	$1.096M	0.2%	$11.05	—	COM	78425V104
KE	KIMBALL ELECTRONICS INC COM	79,287	$987K	0.2%	$10.71	+5.7%	COM	49428J109
DVN	DEVON ENERGY CORP NEW COM	27,137	$984K	0.2%	$24.98	-4.6%	COM	25179M103
—	VECTREN CORP COM	17,752	$935K	0.2%	$33.83	—	COM	92240G101
DDS	DILLARDS INC CL A	14,500	$879K	0.2%	$48.67	0.0%	COM	254067101
—	NORTH ATLANTIC SMALLER INV. TR	26,000	$850K	0.2%	$34.31	—	COM	0643900GB
GNLAF	GENESIS LAND DEV CORP COM	380,300	$834K	0.2%	$2.74	-41.5%	COM	37183V102
—	STATE AUTO FINL CORP	37,100	$813K	0.2%	$18.18	—	COM	855707105
MET	METLIFE INC COM	20,000	$797K	0.2%	$24.43	+15.2%	COM	59156R108
—	GENERAL ELEC CO	25,208	$794K	0.2%	$23.28	—	COM	369604103
ECL	ECOLAB INC COM	6,400	$759K	0.2%	$90.95	+15.4%	COM	278865100
—	AEGON N V PERP CAP FLTG	29,967	$743K	0.2%	$24.79	—	PREFERRED STOCKS	7924509
BMY	BRISTOL MYERS SQUIBB CO	9,848	$724K	0.2%	$28.67	+76.2%	COM	110122108
—	AEGON N V SUB NT 8%42	25,700	$715K	0.2%	$27.82	—	PREFERRED STOCKS	7924608
—	CURRENCYSHARES EURO TRUST	5,900	$638K	0.1%	$128.99	—	COM	23130C108
—	ARCTIC CAT INC COM	32,800	$558K	0.1%	$17.01	—	COM	39670104
PFE	PFIZER INC COM	13,882	$489K	0.1%	$16.46	+27.9%	COM	717081103
—	FOREST CITY RLTY TR INC COM CL	21,900	$486K	0.1%	$21.03	—	COM	345605208
WMT	WAL MART STORES INC	5,984	$437K	0.1%	$20.00	-2.4%	COM	931142103
MSFT	MICROSOFT CORP COM	8,500	$435K	0.1%	$28.51	+61.3%	COM	594918104
—	ENERGY TRANSFER PRTNRS L P UNI	11,086	$422K	0.1%	$50.53	—	COM	29273R109
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$376K	0.1%	$10.65	+13.4%	COM	493026108
—	ROYCE GLOBAL VALUE TR INC COM	46,392	$353K	0.1%	$7.18	—	COM	78081T104
—	WEST MARINE INC COM	40,666	$341K	0.1%	$10.99	—	COM	954235107
KO	COCA COLA CO COM	7,066	$320K	0.1%	$27.85	+19.6%	COM	191216100
—	MFS GOVT MKTS INCOME TR SH BEN	58,778	$318K	0.1%	$5.97	—	MUTUAL FUNDS	552939100
—	ORYX INTERNATIONAL GROWTH FUND	34,964	$310K	0.1%	$4.48	—	COM	G6775Y108
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$301K	0.1%	$37.08	—	COM	G05384105
—	BOULDER GROWTH & INCOME FD ICO	36,560	$297K	0.1%	$7.93	—	COM	101507101
PTEN	PATTERSON-UTI ENERGY INC COM	13,800	$294K	0.1%	$21.83	-13.7%	COM	703481101
—	ATMOS ENERGY CORP COM	3,500	$285K	0.1%	$81.43	—	COM	49560105
—	BRUNSWICK BANCORP INC COM	44,352	$277K	0.1%	$4.93	—	COM	117030106
FRD	FRIEDMAN INDS INC	44,045	$257K	0.1%	$8.37	-36.4%	COM	358435105
—	BLACKROCK NY INS MUN INC TR CO	17,047	$257K	0.1%	$12.95	—	MUTUAL FUNDS	09249U105
—	BLACKROCK MUNIHOLDINGS FD INCO	12,369	$234K	0.1%	$16.74	—	MUTUAL FUNDS	09253N104
—	BERKSHIRE HATHAWAY INC DEL CL	1	$217K	0.0%	$217000.00	—	COM	84670108
CSCO	CISCO SYS INC COM	7,340	$211K	0.0%	$20.16	+3.4%	COM	17275R102
—	BLUE RIDGE REAL ESTATE CO COM	17,406	$157K	0.0%	$9.02	—	COM	96005301
—	RENESOLA LTD SPONS ADS	36,901	$46,000	0.0%	$3.10	—	COM	75971T103
—	NOVA LIFESTYLE INC COM	48,100	$20,000	0.0%	$1.87	—	COM	66979P102
—	ORION ENERGY SYSTEMS INC COM	15,883	$18,000	0.0%	$2.48	—	COM	686275108
—	TETHYS PETROLEUM LIMITED USD O	30,000	$1,000	0.0%	$0.77	—	COM	G87636109
—	BOART LONGYEAR LTD SYDNEY NSSH	17,250	$1,000	0.0%	$0.64	—	COM	Q1645L104
LECH 5 09/27/01	LECHTERS INC 20010927	345,000	$0	0.0%	—	—	CONVERTIBLE BOND	U52323AA7
—	FAIRFAX FINL HLDGS LTD CONINGE	41,000	$0	0.0%	—	—	WARRANT AND RIGH	303901110
KIDBQ	KID BRANDS, INC. COM	315,419	$0	0.0%	$1.44	-99.9%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	742,800	$0	0.0%	$1.29	—	COM	367257201