Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	596,280	$27.96M	6.0%	$28.04	+67.0%	COM	91529Y106
EG	EVEREST RE GROUP	69,288	$16.2M	3.5%	$99.45	+91.1%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	241,844	$14.96M	3.2%	$36.66	+48.0%	COM	03820C105
NUE	NUCOR CORP	212,257	$12.68M	2.7%	$32.41	+54.8%	COM	670346105
GRC	GORMAN RUPP CO	363,173	$11.4M	2.5%	$24.90	+25.1%	COM	383082104
SCL	STEPAN CHEMICAL CO	137,886	$10.87M	2.4%	$51.68	+51.0%	COM	858586100
HP	HELMERICH & PAYNE INC	161,045	$10.72M	2.3%	$60.30	+18.1%	COM	423452101
—	ARGO GROUP INTL HLDGS LTD COM	157,478	$10.68M	2.3%	$43.88	—	COM	G0464B107
—	MAGAL SECURITY SYS LTD ORD	1,406,815	$10.58M	2.3%	$4.00	—	COM	M6786D104
—	FOREST CITY REALTY TRUST CL A	451,515	$9.834M	2.1%	$21.09	—	COM	345605109
MUR	MURPHY OIL CORP COM	340,964	$9.748M	2.1%	$25.40	-17.8%	COM	626717102
—	HESKA CORP COM RESTRC NEW	92,074	$9.666M	2.1%	$6.01	—	COM	42805E306
CALY	CALLAWAY GOLF CO COM	732,422	$8.108M	1.8%	$6.64	+63.4%	COM	131193104
WSO	WATSCO INC	55,550	$7.954M	1.7%	$84.42	+77.3%	COM	942622200
BGOUF	BANG & OLUFSEN HLG ORD B	554,449	$7.696M	1.7%	$4.75	+14.6%	COM	K07774126
MFC	MANULIFE FINL CORP COM	431,150	$7.649M	1.7%	$14.34	+28.5%	COM	56501R106
662	ASIA FINANCIAL HOLDINGS LTD SH	13,270,415	$7.257M	1.6%	$0.45	—	COM	G0532X107
PEP	PEPSICO INC	63,618	$7.116M	1.5%	$56.07	+46.1%	COM	713448108
LNT	ALLIANT CORP COM	179,374	$7.105M	1.5%	$27.74	+4.8%	COM	018802108
INGR	INGREDION INC COM	58,420	$7.036M	1.5%	$70.28	+74.0%	COM	457187102
—	LYDALL INC COM	131,078	$7.026M	1.5%	$14.60	—	COM	550819106
—	PHOENIX COS INC NEW QUIBS 2032	362,093	$6.552M	1.4%	$21.86	—	PREFERRED STOCKS	71902E208
—	FIBRIA CELULOSE S.A. SP ADR	705,764	$6.451M	1.4%	$9.22	—	COM	31573A109
BWEN	BROADWIND ENERGY INC COM NEW	728,854	$6.071M	1.3%	$5.24	-0.9%	COM	11161T207
JNJ	JOHNSON & JOHNSON COM	47,466	$5.912M	1.3%	$60.87	+53.4%	COM	478160104
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.9M	1.3%	$55.38	+41.5%	COM	911312106
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,059,435	$5.89M	1.3%	$4.54	+29.9%	COM	239360100
—	HOLMEN AB SHS B	148,063	$5.786M	1.3%	$27.02	—	COM	W4200N112
—	EKORNES ASA ORD	457,293	$5.76M	1.2%	$13.70	—	COM	R20126109
—	INVESTORS REAL ESTATE TR SH BE	932,946	$5.532M	1.2%	$7.88	—	COM	461730103
BA	BOEING CO	30,824	$5.452M	1.2%	$135.00	+17.6%	COM	097023105
SIG	SIGNET JEWELERS LIMITED SHS	78,020	$5.404M	1.2%	$66.09	-6.2%	COM	G81276100
ALG	ALAMO GROUP INC COM	70,622	$5.381M	1.2%	$66.96	+8.9%	COM	011311107
AMWD	AMERICAN WOODMARK CORP COM	58,231	$5.346M	1.2%	$77.27	+3.7%	COM	030506109
ORN	ORION MARINE GROUP INC COM	696,914	$5.206M	1.1%	$8.11	+16.6%	COM	68628V308
—	EMC INS GROUP INC	181,083	$5.081M	1.1%	$26.36	—	COM	268664109
RYN	RAYONIER INC COM	163,326	$4.628M	1.0%	$30.80	—	COM	754907103
TWIN	TWIN DISC INC COM	213,938	$4.401M	1.0%	$12.28	+43.2%	COM	901476101
—	AEGON N V NY REGISTRY SH	823,257	$4.224M	0.9%	$5.52	—	COM	007924103
WST	WEST PHARMACEUTICAL SVCS INCCO	51,090	$4.169M	0.9%	$33.09	+145.0%	COM	955306105
—	TUESDAY MORNING CORP COM NEW	1,103,549	$4.138M	0.9%	$6.70	—	COM	899035505
RYAM	RAYONIER ADVANCED MATLS INC CO	307,103	$4.131M	0.9%	$16.55	-15.2%	COM	75508B104
XOM	EXXON MOBIL CORPORATION	45,652	$3.744M	0.8%	$53.69	+4.5%	COM	30231G102
GD	GENERAL DYNAMICS CORP COM	20,000	$3.744M	0.8%	$96.13	+58.2%	COM	369550108
FEIM	FREQUENCY ELECTRS INC COM	331,385	$3.645M	0.8%	$7.91	+9.9%	COM	358010106
—	WESTROCK CO COM	66,996	$3.486M	0.8%	$51.44	—	COM	96145D105
—	TEXTAINER GROUP HOLDINGS LTDSH	217,755	$3.332M	0.7%	$20.71	—	COM	G8766E109
INN	SUMMIT HOTEL PPTYS INC COM	207,549	$3.317M	0.7%	$10.79	—	COM	866082100
TWI	TITAN INTL INC ILL COM	318,328	$3.292M	0.7%	$6.52	+79.8%	COM	88830M102
—	HMN FINL INC COM	178,256	$3.218M	0.7%	$7.17	—	COM	40424G108
—	HARDINGE INC COM	276,081	$3.103M	0.7%	$11.28	—	COM	412324303
CSW	CSW INDUSTRIALS INC COM	82,629	$3.032M	0.7%	$34.83	+1.1%	COM	126402106
—	PENGROWTH ENERGY CORPORATION	3,021,368	$3.021M	0.7%	$2.72	—	COM	70706P104
FSLR	FIRST SOLAR INC COM	109,600	$2.97M	0.6%	$42.71	-23.2%	COM	336433107
—	CHUBU NIPPON BROADCAST CO LTSH	418,937	$2.962M	0.6%	$5.73	—	COM	J06594105
—	CLIFTON BANCORP INC COM	181,421	$2.937M	0.6%	$12.76	—	COM	186873105
—	ENERPLUS CORPORATION	362,785	$2.92M	0.6%	$12.06	—	COM	292766102
MSADF	MS&AD INS GP HLDG (8725-JP)	91,251	$2.902M	0.6%	$8.23	+34.2%	COM	J4687C105
—	BROADWAY FINL CORP DEL COM	1,490,471	$2.698M	0.6%	$1.14	—	COM	111444105
WSM	WILLIAMS SONOMA INC COM	47,000	$2.52M	0.5%	$20.11	-1.6%	COM	969904101
—	USA TRUCK INC COM	333,815	$2.454M	0.5%	$6.44	—	COM	902925106
—	WASHINGTONFIRST BANKSHARES ICO	86,289	$2.416M	0.5%	$11.67	—	COM	940730104
—	URSTADT BIDDLE PPTYS INC CL A	117,277	$2.411M	0.5%	$20.17	—	COM	917286205
—	WESTERN ASSET CLYM INFL OPP CO	209,559	$2.341M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$2.241M	0.5%	$4.41	+34.9%	COM	140501107
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.159M	0.5%	$39.25	—	COM	210226106
TRMLF	TOURMALINE OIL CORP COM	94,712	$2.111M	0.5%	$27.46	-45.7%	COM	89156V106
—	WESTPORT FUEL SYSTEMS INC.	2,091,080	$2.007M	0.4%	$1.67	—	COM	960908309
—	NEW YORK & CO INC COM	981,174	$1.913M	0.4%	$3.11	—	COM	649295102
DDS	DILLARDS INC CL A	35,200	$1.839M	0.4%	$44.15	-7.2%	COM	254067101
THG	HANOVER INS GROUP INC COM	19,825	$1.785M	0.4%	$34.95	+95.1%	COM	410867105
—	SCHULMAN A INC COM	55,467	$1.745M	0.4%	$26.82	—	COM	808194104
MRK	MERCK & COMPANY	27,225	$1.73M	0.4%	$31.22	+47.5%	COM	58933Y105
WRB	BERKLEY W R CORP COM	24,322	$1.718M	0.4%	$14.61	+15.2%	COM	084423102
TKOMY	TOKIO MARINE HOLDINGS INC	40,675	$1.714M	0.4%	$31.66	—	COM	889094108
KIM	KIMCO RLTY CORP COM	77,202	$1.705M	0.4%	$13.36	+14.9%	COM	49446R109
—	LUBYS CAFETERIAS INC COM	539,319	$1.677M	0.4%	$5.82	—	COM	549282101
ALOT	ASTRO-MED INC NEW COM	108,086	$1.648M	0.4%	$9.12	+42.8%	COM	04638F108
—	WESTERN ASSET CLYM INFL SEC CO	132,149	$1.521M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.457M	0.3%	$246.69	-1.1%	WARRANT AND RIGH	H69293217
ELME	WASHINGTON REAL ESTATE INVT SH	46,110	$1.442M	0.3%	$26.20	—	COM	939653101
CNC	CENTENE CORP DEL COM	20,000	$1.425M	0.3%	$29.50	+13.4%	COM	15135B101
VWDRY	VESTAS WIND SYS AS UNSP ADR	51,100	$1.389M	0.3%	$4.73	—	COM	925458101
—	ROYAL DUTCH SHELL PLC SPONS AD	25,790	$1.36M	0.3%	$63.98	—	COM	780259206
—	AEGON N V PERP CAP FLTG	53,175	$1.322M	0.3%	$22.52	—	PREFERRED STOCKS	007924509
—	CIMAREX ENERGY CO COM	10,968	$1.311M	0.3%	$64.99	—	COM	171798101
FTEK	FUEL TECH INC COM	1,234,690	$1.259M	0.3%	$3.01	-61.0%	COM	359523107
—	ARGO GROUP US INC SR NT 42	47,916	$1.216M	0.3%	$24.97	—	PREFERRED STOCKS	040130205
—	KIMBALL INTL INC CL B	71,065	$1.173M	0.3%	$9.71	—	COM	494274103
—	SI FINANCIAL GROUP INC	78,009	$1.096M	0.2%	$11.05	—	COM	78425V104
OCFC	OCEANFIRST FINL CORP COM	38,311	$1.079M	0.2%	$12.81	+63.1%	COM	675234108
DVN	DEVON ENERGY CORP NEW COM	24,900	$1.039M	0.2%	$24.98	+24.3%	COM	25179M103
—	STATE AUTO FINL CORP	37,100	$1.018M	0.2%	$18.18	—	COM	855707105
—	PENN WEST PETROLEUM LTD	509,123	$866K	0.2%	$6.12	—	COM	707887105
GNLAF	GENESIS LAND DEV CORP COM	380,300	$855K	0.2%	$2.74	-21.8%	COM	37183V102
KE	KIMBALL ELECTRONICS INC COM	48,819	$827K	0.2%	$10.71	+55.7%	COM	49428J109
ECL	ECOLAB INC COM	6,400	$802K	0.2%	$90.95	+22.1%	COM	278865100
—	GENERAL ELEC CO	25,981	$774K	0.2%	$23.50	—	COM	369604103
—	VECTREN CORP COM	13,192	$773K	0.2%	$33.83	—	COM	92240G101
MSFT	MICROSOFT CORP COM	10,700	$705K	0.2%	$33.74	+71.4%	COM	594918104
—	FOREST CITY RLTY TR INC COM CL	21,900	$617K	0.1%	$21.03	—	COM	345605208
—	CURRENCYSHARES EURO TRUST	5,900	$610K	0.1%	$128.99	—	COM	23130C108
—	AEGON N V SUB NT 42	20,700	$538K	0.1%	$26.03	—	PREFERRED STOCKS	007924608
BMY	BRISTOL MYERS SQUIBB CO	9,848	$536K	0.1%	$28.67	+39.3%	COM	110122108
—	RAYONIER ADVANCED MATLS INC PF	5,050	$516K	0.1%	$104.75	—	CONVERTIBLE PREF	75508B203
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$449K	0.1%	$10.65	+31.9%	COM	493026108
WMT	WAL MART STORES INC	5,984	$431K	0.1%	$20.00	-1.1%	COM	931142103
PFE	PFIZER INC COM	12,579	$430K	0.1%	$16.46	+30.1%	COM	717081103
—	ROYCE GLOBAL VALUE TR INC COM	47,206	$415K	0.1%	$7.19	—	COM	78081T104
—	WEST MARINE INC COM	40,666	$388K	0.1%	$10.99	—	COM	954235107
AAPL	APPLE COMPUTER INC COM	2,565	$368K	0.1%	$26.53	+14.7%	COM	037833100
—	BOULDER GROWTH & INCOME FD ICO	36,560	$340K	0.1%	$7.93	—	COM	101507101
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$338K	0.1%	$37.08	—	COM	G05384105
PTEN	PATTERSON-UTI ENERGY INC COM	13,800	$335K	0.1%	$21.83	+23.6%	COM	703481101
—	NORTH ATLANTIC SMALLER INV. TR	10,000	$322K	0.1%	$34.31	—	COM	0643900GB
—	BRUNSWICK BANCORP INC COM	44,352	$318K	0.1%	$4.93	—	COM	117030106
—	ENERGY TRANSFER PRTNRS L P UNI	8,555	$312K	0.1%	$50.53	—	COM	29273R109
—	EXPRESS SCRIPTS HOLDING COMPAN	4,741	$312K	0.1%	$62.11	—	COM	30219G108
KO	COCA COLA CO COM	7,066	$300K	0.1%	$27.85	+13.2%	COM	191216100
—	ORYX INTERNATIONAL GROWTH FUND	34,964	$281K	0.1%	$4.48	—	COM	G6775Y108
MET	METLIFE INC COM	5,103	$270K	0.1%	$24.65	+43.3%	COM	59156R108
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$251K	0.1%	$12.47	+13.3%	COM	J86298106
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$250K	0.1%	$230816.08	+8.7%	COM	084670108
ES	EVERSOURCE ENERGY COM	4,200	$247K	0.1%	$38.94	+7.4%	COM	30040W108
CSCO	CISCO SYS INC COM	6,940	$235K	0.1%	$20.16	+22.6%	COM	17275R102
FRD	FRIEDMAN INDS INC	36,444	$235K	0.1%	$8.37	-28.3%	COM	358435105
—	CASTLE A M & CO	781,916	$235K	0.1%	$9.30	—	COM	148411101
ATO	ATMOS ENERGY CORP COM	2,900	$229K	0.0%	$58.13	+6.9%	COM	049560105
MOG/A	MOOG INC CL A	3,375	$227K	0.0%	$52.69	+15.9%	COM	615394202
—	MFS GOVT MKTS INCOME TR SH BEN	44,575	$221K	0.0%	$5.97	—	MUTUAL FUNDS	552939100
—	BLACKROCK NY INS MUN INC TR CO	15,751	$206K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
0NMK	VESTAS WIND SYS AS SHS	2,500	$205K	0.0%	$82.00	—	COM	K9773J128
—	SUNSHINE BANCORP INC COM	9,773	$205K	0.0%	$20.98	—	COM	86777J108
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$135K	0.0%	$8.21	-5.8%	COM	096005301
—	ORION ENERGY SYSTEMS INC COM	15,883	$31,000	0.0%	$2.48	—	COM	686275108
KIDBQ	KID BRANDS, INC. COM	238,132	$0	0.0%	$1.44	-99.9%	COM	49375T100
—	FAIRFAX FINL HLDGS LTD CONINGE	41,000	$0	0.0%	—	—	WARRANT AND RIGH	303901110
—	GASFRAC ENERGY SVCS INC COM	742,800	$0	0.0%	$1.29	—	COM	367257201
LECH 5 09/27/01	LECHTERS INC 20010927	345,000	$0	0.0%	—	—	CONVERTIBLE BOND	U52323AA7