Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
UNM	UNUMPROVIDENT CORP	623,155	$22M	4.9%	$35.31	$28.04	+25.9%	COM	91529Y106
EG	EVEREST RE GROUP	81,163	$15.42M	3.4%	$189.98 *	$99.45	+57.7%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	289,594	$13.54M	3.0%	$46.74 *	$36.66	+11.2%	COM	03820C105
HP	HELMERICH & PAYNE INC	176,045	$11.85M	2.6%	$67.30	$60.30	+11.6%	COM	423452101
MUR	MURPHY OIL CORP COM	369,400	$11.23M	2.5%	$30.40 *	$25.40	-14.5%	COM	626717102
SCL	STEPAN CHEMICAL CO	153,286	$11.14M	2.5%	$72.66	$51.68	+40.6%	COM	858586100
NUE	NUCOR CORP	224,487	$11.1M	2.5%	$49.45 *	$32.41	+24.5%	COM	670346105
—	FOREST CITY REALTY TRUST CL A	452,515	$10.47M	2.3%	$23.13	$21.09	—	COM	345605109
—	ARGO GROUP INTL HLDGS LTD COM	183,841	$10.37M	2.3%	$56.42	$43.88	—	COM	G0464B107
GRC	GORMAN RUPP CO	381,841	$9.779M	2.2%	$25.61	$24.90	+2.9%	COM	383082104
CALY	CALLAWAY GOLF CO COM	805,118	$9.347M	2.1%	$11.61	$6.64	+73.1%	COM	131193104
—	HESKA CORP COM RESTRC NEW	166,386	$9.056M	2.0%	$54.43	$6.01	—	COM	42805E306
—	LYDALL INC COM	164,925	$8.433M	1.9%	$51.13	$14.60	—	COM	550819106
WSO	WATSCO INC	56,550	$7.968M	1.8%	$140.90	$84.42	+66.9%	COM	942622200
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,029,588	$7.856M	1.7%	$7.63 *	$4.49	+38.1%	COM	239360100
INGR	INGREDION INC COM	58,620	$7.8M	1.7%	$133.06	$70.28	+89.3%	COM	457187102
662	ASIA FINANCIAL HOLDINGS LTD SH	13,290,415	$7.626M	1.7%	$0.57	$0.45	—	COM	G0532X107
—	ALLIANT CORP COM	188,364	$7.217M	1.6%	$38.31	$39.70	—	COM	18802108
—	PHOENIX COS INC NEW QUIBS 2032	372,193	$7.211M	1.6%	$19.37	$21.86	—	PREFERRED	71902E208
PEP	PEPSICO INC	64,518	$7.018M	1.6%	$108.78 *	$56.07	+46.6%	COM	713448108
MFC	MANULIFE FINL CORP COM	448,450	$6.327M	1.4%	$14.11	$14.34	-1.6%	COM	56501R106
UPS	UNITED PARCEL SVC INC CL B	54,990	$6.014M	1.3%	$109.37 *	$55.38	+40.1%	COM	911312106
BGOUF	BANG & OLUFSEN HLG ORD B	577,010	$5.96M	1.3%	$10.33 *	$4.75	+12.3%	COM	K07774126
—	EKORNES ASA ORD	462,343	$5.924M	1.3%	$12.81	$13.70	—	COM	R20126109
—	INVESTORS REAL ESTATE TR SH BE	916,741	$5.454M	1.2%	$5.95	$8.04	—	COM	461730103
JNJ	JOHNSON & JOHNSON COM	45,866	$5.419M	1.2%	$118.15 *	$59.87	+52.8%	COM	478160104
—	HOLMEN AB SHS B	150,417	$5.357M	1.2%	$35.61	$27.02	—	COM	W4200N112
—	ALAMO GROUP INC COM	80,461	$5.302M	1.2%	$65.90	$65.97	—	COM	11311107
ORN	ORION MARINE GROUP INC COM	752,277	$5.153M	1.1%	$6.85	$8.01	-14.5%	COM	68628V308
—	EMC INS GROUP INC	189,258	$5.097M	1.1%	$26.93	$26.36	—	COM	268664109
—	FIBRIA CELULOSE S.A. SP ADR	714,831	$5.054M	1.1%	$7.07	$9.22	—	COM	31573A109
—	MAGAL SECURITY SYS LTD ORD	1,189,914	$5.021M	1.1%	$4.22	$3.66	—	COM	M6786D104
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	20,000	$4.972M	1.1%	$248.60	$246.69	+2.1%	WARRANT A	H69293217
—	WESTROCK CO COM	98,163	$4.759M	1.1%	$48.48	$51.44	—	COM	96145D105
—	AMERICAN WOODMARK CORP COM	58,231	$4.692M	1.0%	$80.58	$66.37	—	COM	30506109
RYN	RAYONIER INC COM	170,726	$4.531M	1.0%	$26.54	$30.80	—	COM	754907103
RYAM	RAYONIER ADVANCED MATLS INC CO	307,103	$4.106M	0.9%	$13.37	$16.55	-19.2%	COM	75508B104
—	BOEING CO	30,999	$4.084M	0.9%	$131.75	$129.88	—	COM	97023105
—	PENGROWTH ENERGY CORPORATION	2,552,834	$4.059M	0.9%	$1.59	$3.01	—	COM	70706P104
—	CLIFTON BANCORP INC COM	260,985	$3.99M	0.9%	$15.29	$12.76	—	COM	186873105
—	TEXTAINER GROUP HOLDINGS LTDSH	530,941	$3.977M	0.9%	$7.49	$20.71	—	COM	G8766E109
XOM	EXXON MOBIL CORPORATION	45,427	$3.965M	0.9%	$87.28 *	$53.69	+7.7%	COM	30231G102
WST	WEST PHARMACEUTICAL SVCS INCCO	51,090	$3.806M	0.8%	$74.50 *	$33.09	+117.6%	COM	955306105
TWI	TITAN INTL INC ILL COM	367,328	$3.717M	0.8%	$10.12	$6.52	+53.3%	COM	88830M102
BWEN	BROADWIND ENERGY INC COM NEW	810,454	$3.566M	0.8%	$4.40	$5.26	-16.3%	COM	11161T207
FEIM	FREQUENCY ELECTRS INC COM	332,135	$3.491M	0.8%	$10.51 *	$7.91	+5.2%	COM	358010106
FSLR	FIRST SOLAR INC COM	86,600	$3.42M	0.8%	$39.49	$45.00	-12.2%	COM	336433107
—	USA TRUCK INC COM	333,815	$3.418M	0.8%	$10.24	$6.44	—	COM	902925106
—	TUESDAY MORNING CORP COM NEW	551,055	$3.295M	0.7%	$5.98	$9.26	—	COM	899035505
—	ENERPLUS CORPORATION	505,140	$3.238M	0.7%	$6.41	$12.06	—	COM	292766102
—	AEGON N V NY REGISTRY SH	824,635	$3.184M	0.7%	$3.86	$3.99	—	COM	7924103
GD	GENERAL DYNAMICS CORP COM	20,000	$3.103M	0.7%	$155.15 *	$96.13	+31.7%	COM	369550108
—	HARDINGE INC COM	275,216	$3.063M	0.7%	$11.13	$11.28	—	COM	412324303
—	WESTPORT INNOVATIONS INC COM N	1,845,778	$2.972M	0.7%	$1.61	$1.77	—	COM	960908309
SIG	SIGNET JEWELERS LIMITED SHS	39,420	$2.938M	0.7%	$74.53 *	$70.08	-12.3%	COM	G81276100
CSW	CSW INDUSTRIALS INC COM	88,229	$2.858M	0.6%	$32.39 *	$34.83	-10.3%	COM	126402106
INN	SUMMIT HOTEL PPTYS INC COM	210,849	$2.775M	0.6%	$13.16	$10.79	—	COM	866082100
TWIN	TWIN DISC INC COM	228,145	$2.733M	0.6%	$11.98 *	$12.28	-5.7%	COM	901476101
MSADF	MS&AD INS GP HLDG (8725-JP)	96,302	$2.653M	0.6%	$27.55 *	$8.23	+18.7%	COM	J4687C105
—	URSTADT BIDDLE PPTYS INC CL A	117,277	$2.605M	0.6%	$22.21	$20.17	—	COM	917286205
TRMLF	TOURMALINE OIL CORP COM	94,712	$2.566M	0.6%	$27.09 *	$27.46	-35.7%	COM	89156V106
—	CHUBU NIPPON BROADCAST CO LTSH	418,937	$2.565M	0.6%	$6.12	$5.73	—	COM	J06594105
—	HMN FINL INC COM	180,490	$2.563M	0.6%	$14.20	$7.17	—	COM	40424G108
NTB	BANK OF NT BUTTERFIELD&SON LSH	103,370	$2.559M	0.6%	$24.76 *	$16.00	+1.9%	COM	G0772R208
—	SCHULMAN A INC COM	83,910	$2.443M	0.5%	$29.11	$26.82	—	COM	808194104
WSM	WILLIAMS SONOMA INC COM	47,000	$2.401M	0.5%	$51.09 *	$20.11	+1.8%	COM	969904101
—	WESTERN ASSET CLYM INFL OPP CO	209,559	$2.345M	0.5%	$11.19	$11.36	—	MUTUAL FU	95766R104
—	WASHINGTONFIRST BANKSHARES ICO	91,890	$2.261M	0.5%	$24.61	$11.67	—	COM	940730104
KIM	KIMCO RLTY CORP COM	77,202	$2.235M	0.5%	$28.95 *	$13.36	+35.7%	COM	49446R109
—	NEW YORK & CO INC COM	981,174	$2.217M	0.5%	$2.26	$3.11	—	COM	649295102
—	BROADWAY FINL CORP DEL COM	1,343,076	$2.176M	0.5%	$1.62	$1.07	—	COM	111444105
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.065M	0.5%	$51.20	$39.25	—	COM	210226106
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$1.948M	0.4%	$14.70 *	$4.41	+19.1%	COM	140501107
TKOMY	TOKIO MARINE HOLDINGS INC	50,825	$1.924M	0.4%	$37.86	$31.01	+23.0%	COM	889094108
OCFC	OCEANFIRST FINL CORP COM	99,520	$1.917M	0.4%	$19.26 *	$12.81	+6.8%	COM	675234108
—	LUBYS CAFETERIAS INC COM	384,264	$1.648M	0.4%	$4.29	$6.91	—	COM	549282101
ALOT	ASTRO-MED INC NEW COM	108,086	$1.6M	0.4%	$14.80 *	$9.12	+51.7%	COM	04638F108
MRK	MERCK & COMPANY	25,159	$1.57M	0.3%	$62.40 *	$30.17	+48.5%	COM	58933Y105
FTEK	FUEL TECH INC COM	1,086,355	$1.521M	0.3%	$1.40	$3.26	-57.0%	COM	359523107
—	WESTERN ASSET CLYM INFL SEC CO	132,149	$1.513M	0.3%	$11.45	$11.30	—	MUTUAL FU	95766Q106
THG	HANOVER INS GROUP INC COM	19,825	$1.495M	0.3%	$75.41 *	$34.95	+65.0%	COM	410867105
—	CIMAREX ENERGY CO COM	10,968	$1.474M	0.3%	$134.39	$64.99	—	COM	171798101
ELME	WASHINGTON REAL ESTATE INVT SH	46,110	$1.435M	0.3%	$31.12	$26.20	—	COM	939653101
—	BERKLEY W R CORP COM	24,322	$1.405M	0.3%	$57.77	$59.90	—	COM	84423102
VWDRY	VESTAS WIND SYS AS UNSP ADR	51,100	$1.4M	0.3%	$27.40	$3.58	+665.4%	COM	925458101
—	ARGO GROUP US INC SR NT 42	50,816	$1.316M	0.3%	$25.90	$26.28	—	PREFERRED	40130205
—	ROYAL DUTCH SHELL PLC SPONS AD	25,790	$1.291M	0.3%	$50.06	$63.98	—	COM	780259206
—	KIMBALL INTL INC CL B	95,372	$1.234M	0.3%	$12.94	$9.71	—	COM	494274103
—	PENN WEST PETROLEUM LTD	614,873	$1.113M	0.2%	$1.81	$6.12	—	COM	707887105
DVN	DEVON ENERGY CORP NEW COM	24,900	$1.098M	0.2%	$44.10 *	$24.98	+24.5%	COM	25179M103
—	SI FINANCIAL GROUP INC	82,776	$1.093M	0.2%	$13.20	$11.05	—	COM	78425V104
KE	KIMBALL ELECTRONICS INC COM	76,312	$1.058M	0.2%	$13.86	$10.71	+29.4%	COM	49428J109
DDS	DILLARDS INC CL A	14,500	$914K	0.2%	$63.03 *	$48.67	-3.2%	COM	254067101
—	VECTREN CORP COM	17,752	$891K	0.2%	$50.19	$33.83	—	COM	92240G101
MET	METLIFE INC COM	20,000	$889K	0.2%	$44.45 *	$24.43	+18.5%	COM	59156R108
—	STATE AUTO FINL CORP	37,100	$883K	0.2%	$23.80	$18.18	—	COM	855707105
—	NORTH ATLANTIC SMALLER INV. TR	26,000	$843K	0.2%	$32.42	$34.31	—	COM	0643900GB
GNLAF	GENESIS LAND DEV CORP COM	380,300	$826K	0.2%	$2.17	$2.74	-21.6%	COM	37183V102
ECL	ECOLAB INC COM	6,400	$779K	0.2%	$121.72 *	$90.95	+21.1%	COM	278865100
—	GENERAL ELEC CO	25,401	$752K	0.2%	$29.61	$23.28	—	COM	369604103
—	AEGON N V PERP CAP FLTG	29,967	$749K	0.2%	$24.99	$24.79	—	PREFERRED	7924509
—	AEGON N V SUB NT 8%42	25,700	$686K	0.2%	$26.69	$27.82	—	PREFERRED	7924608
—	CASTLE A M & CO	838,522	$671K	0.1%	$0.80	$9.97	—	COM	148411101
—	CURRENCYSHARES EURO TRUST	5,900	$645K	0.1%	$109.32	$128.99	—	COM	23130C108
BMY	BRISTOL MYERS SQUIBB CO	9,848	$531K	0.1%	$53.92 *	$28.67	+35.1%	COM	110122108
—	RAYONIER ADVANCED MATLS INC PF	5,050	$529K	0.1%	$104.75	$104.75	—	CONVERTIB	75508B203
—	ARCTIC CAT INC COM	32,800	$508K	0.1%	$15.49	$17.01	—	COM	39670104
—	FOREST CITY RLTY TR INC COM CL	21,900	$506K	0.1%	$23.11	$21.03	—	COM	345605208
MSFT	MICROSOFT CORP COM	8,500	$489K	0.1%	$57.53 *	$28.51	+80.5%	COM	594918104
PFE	PFIZER INC COM	13,882	$470K	0.1%	$33.86 *	$16.46	+30.4%	COM	717081103
WMT	WAL MART STORES INC	5,984	$432K	0.1%	$72.19 *	$20.00	+2.3%	COM	931142103
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$394K	0.1%	$89.48 *	$10.65	+16.5%	COM	493026108
—	ROYCE GLOBAL VALUE TR INC COM	46,392	$377K	0.1%	$8.13	$7.18	—	COM	78081T104
—	ENERGY TRANSFER PRTNRS L P UNI	10,038	$371K	0.1%	$36.96	$50.53	—	COM	29273R109
—	WEST MARINE INC COM	40,666	$336K	0.1%	$8.26	$10.99	—	COM	954235107
—	EXPRESS SCRIPTS HOLDING COMPAN	4,569	$322K	0.1%	$70.47	$61.97	—	COM	30219G108
—	MFS GOVT MKTS INCOME TR SH BEN	58,778	$317K	0.1%	$5.39	$5.97	—	MUTUAL FU	552939100
PTEN	PATTERSON-UTI ENERGY INC COM	13,800	$309K	0.1%	$22.39	$21.83	+2.5%	COM	703481101
—	ORYX INTERNATIONAL GROWTH FUND	34,964	$307K	0.1%	$8.78	$4.48	—	COM	G6775Y108
—	BOULDER GROWTH & INCOME FD ICO	36,560	$306K	0.1%	$8.37	$7.93	—	COM	101507101
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$303K	0.1%	$46.62	$37.08	—	COM	G05384105
KO	COCA COLA CO COM	7,066	$299K	0.1%	$42.32 *	$27.85	+13.6%	COM	191216100
—	BRUNSWICK BANCORP INC COM	44,352	$266K	0.1%	$6.00	$4.93	—	COM	117030106
—	ATMOS ENERGY CORP COM	3,500	$261K	0.1%	$74.57	$81.43	—	COM	49560105
FRD	FRIEDMAN INDS INC	43,145	$233K	0.1%	$5.40 *	$8.37	-42.0%	COM	358435105
CSCO	CISCO SYS INC COM	7,340	$233K	0.1%	$31.74 *	$20.16	+18.0%	COM	17275R102
—	BLACKROCK NY INS MUN INC TR CO	15,751	$232K	0.1%	$14.73	$12.95	—	MUTUAL FU	09249U105
—	BLACKROCK MUNIHOLDINGS FD INCO	12,369	$228K	0.1%	$18.43	$16.74	—	MUTUAL FU	09253N104
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$227K	0.1%	$37.83 *	$12.47	0.0%	COM	J86298106
—	BERKSHIRE HATHAWAY INC DEL CL	1	$216K	0.0%	$216000.00	$217000.00	—	COM	84670108
0NMK	VESTAS WIND SYS AS SHS	2,500	$206K	0.0%	$82.40	$82.40	—	COM	K9773J128
MOG/A	MOOG INC CL A	3,375	$201K	0.0%	$59.56 *	$52.69	+4.4%	COM	615394202
—	BLUE RIDGE REAL ESTATE CO COM	17,406	$157K	0.0%	$9.02	$9.02	—	COM	96005301
—	RENESOLA LTD SPONS ADS	36,901	$37,000	0.0%	$1.00	$3.10	—	COM	75971T103
—	ORION ENERGY SYSTEMS INC COM	15,883	$21,000	0.0%	$1.32	$2.48	—	COM	686275108
—	BOART LONGYEAR LTD SYDNEY NSSH	17,250	$2,000	0.0%	$0.12	$0.64	—	COM	Q1645L104
—	TETHYS PETROLEUM LIMITED USD O	30,000	$1,000	0.0%	$0.03	$0.77	—	COM	G87636109
—	GASFRAC ENERGY SVCS INC COM	742,800	$0	0.0%	$0.00	$1.29	—	COM	367257201
—	FAIRFAX FINL HLDGS LTD CONINGE	41,000	$0	0.0%	$0.00	—	—	WARRANT A	303901110
KIDBQ	KID BRANDS, INC. COM	315,419	$0	0.0%	$0.00	$1.44	-99.9%	COM	49375T100
LECH 5 09/27/01	LECHTERS INC 20010927	345,000	$0	0.0%	$0.00	—	—	CONVERTIB	U52323AA7