Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	585,080	$27.28M	6.0%	$28.04	+64.1%	COM	91529Y106
EG	EVEREST RE GROUP	65,588	$16.7M	3.7%	$99.45	+107.7%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	241,844	$14.28M	3.1%	$36.66	+47.6%	COM	03820C105
NUE	NUCOR CORP	210,257	$12.17M	2.7%	$32.41	+49.5%	COM	670346105
—	FOREST CITY REALTY TRUST CL A	466,804	$11.28M	2.5%	$21.19	—	COM	345605109
SCL	STEPAN CHEMICAL CO	127,086	$11.07M	2.4%	$51.68	+62.7%	COM	858586100
HP	HELMERICH & PAYNE INC	190,345	$10.34M	2.3%	$60.04	-2.3%	COM	423452101
GRC	GORMAN RUPP CO	368,515	$9.386M	2.1%	$24.93	+7.4%	COM	383082104
—	ARGO GROUP INTL HLDGS LTD COM	153,752	$9.317M	2.0%	$43.88	—	COM	G0464B107
—	HESKA CORP COM RESTRC NEW	87,210	$8.902M	1.9%	$6.01	—	COM	42805E306
CALY	CALLAWAY GOLF CO COM	695,427	$8.888M	1.9%	$6.64	+83.5%	COM	131193104
MUR	MURPHY OIL CORP COM	331,814	$8.505M	1.9%	$25.40	-24.8%	COM	626717102
WSO	WATSCO INC	54,650	$8.427M	1.8%	$84.42	+69.3%	COM	942622200
BGOUF	BANG & OLUFSEN HLG ORD B	502,390	$8.405M	1.8%	$4.75	+35.3%	COM	K07774126
MFC	MANULIFE FINL CORP COM	426,350	$7.998M	1.7%	$14.34	+23.0%	COM	56501R106
SIG	SIGNET JEWELERS LIMITED SHS	118,770	$7.511M	1.6%	$60.95	-16.2%	COM	G81276100
PEP	PEPSICO INC	63,618	$7.347M	1.6%	$56.07	+57.3%	COM	713448108
—	FIBRIA CELULOSE S.A. SP ADR	695,164	$7.063M	1.5%	$9.22	—	COM	31573A109
662	ASIA FINANCIAL HOLDINGS LTD SH	12,812,415	$6.975M	1.5%	$0.45	—	COM	G0532X107
—	MAGAL SECURITY SYS LTD ORD	1,388,444	$6.831M	1.5%	$4.00	—	COM	M6786D104
INGR	INGREDION INC COM	57,220	$6.821M	1.5%	$70.28	+69.0%	COM	457187102
—	LYDALL INC COM	131,078	$6.777M	1.5%	$14.60	—	COM	550819106
LNT	ALLIANT CORP COM	168,574	$6.772M	1.5%	$27.74	+11.5%	COM	018802108
—	PHOENIX COS INC NEW QUIBS 2032	357,849	$6.687M	1.5%	$21.86	—	PREFERRED STOCKS	71902E208
JNJ	JOHNSON & JOHNSON COM	47,466	$6.279M	1.4%	$60.87	+64.9%	COM	478160104
—	HOLMEN AB SHS B	143,063	$6.195M	1.4%	$27.02	—	COM	W4200N112
ALG	ALAMO GROUP INC COM	68,028	$6.178M	1.4%	$66.96	+19.0%	COM	011311107
BA	BOEING CO	30,824	$6.095M	1.3%	$135.00	+29.5%	COM	097023105
UPS	UNITED PARCEL SVC INC CL B	54,990	$6.081M	1.3%	$55.38	+39.6%	COM	911312106
—	EKORNES ASA ORD	435,002	$5.971M	1.3%	$13.70	—	COM	R20126109
—	INVESTORS REAL ESTATE TR SH BE	934,917	$5.806M	1.3%	$7.88	—	COM	461730103
AMWD	AMERICAN WOODMARK CORP COM	58,231	$5.564M	1.2%	$77.27	+18.8%	COM	030506109
—	EMC INS GROUP INC	186,439	$5.18M	1.1%	$26.40	—	COM	268664109
ORN	ORION MARINE GROUP INC COM	668,370	$4.993M	1.1%	$8.11	-7.8%	COM	68628V308
FSLR	FIRST SOLAR INC COM	117,700	$4.694M	1.0%	$42.11	-19.3%	COM	336433107
RYN	RAYONIER INC COM	160,426	$4.616M	1.0%	$30.80	—	COM	754907103
—	AEGON N V NY REGISTRY SH	896,655	$4.582M	1.0%	$5.49	—	COM	007924103
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,145,460	$4.49M	1.0%	$4.48	-16.6%	COM	239360100
WST	WEST PHARMACEUTICAL SVCS INCCO	46,590	$4.404M	1.0%	$33.09	+169.9%	COM	955306105
RYAM	RAYONIER ADVANCED MATLS INC CO	277,337	$4.36M	1.0%	$16.55	-13.7%	COM	75508B104
GD	GENERAL DYNAMICS CORP COM	20,000	$3.962M	0.9%	$96.13	+68.5%	COM	369550108
INN	SUMMIT HOTEL PPTYS INC COM	205,549	$3.833M	0.8%	$10.79	—	COM	866082100
—	WESTPORT FUEL SYSTEMS INC.	1,619,893	$3.807M	0.8%	$1.67	—	COM	960908309
TWI	TITAN INTL INC ILL COM	304,328	$3.655M	0.8%	$6.52	+63.4%	COM	88830M102
BWEN	BROADWIND ENERGY INC COM NEW	706,513	$3.561M	0.8%	$5.24	+21.0%	COM	11161T207
XOM	EXXON MOBIL CORPORATION	43,652	$3.524M	0.8%	$53.69	+3.3%	COM	30231G102
TWIN	TWIN DISC INC COM	207,320	$3.346M	0.7%	$12.28	+41.9%	COM	901476101
—	TUESDAY MORNING CORP COM NEW	1,698,168	$3.227M	0.7%	$5.02	—	COM	899035505
CSW	CSW INDUSTRIALS INC COM	82,629	$3.194M	0.7%	$34.83	-0.1%	COM	126402106
—	WESTROCK CO COM	55,959	$3.17M	0.7%	$51.44	—	COM	96145D105
—	HMN FINL INC COM	178,256	$3.128M	0.7%	$7.17	—	COM	40424G108
—	BROADWAY FINL CORP DEL COM	1,480,171	$3.126M	0.7%	$1.14	—	COM	111444105
—	USA TRUCK INC COM	359,450	$3.113M	0.7%	$6.60	—	COM	902925106
—	HARDINGE INC COM	250,274	$3.108M	0.7%	$11.28	—	COM	412324303
—	TEXTAINER GROUP HOLDINGS LTDSH	213,355	$3.094M	0.7%	$20.71	—	COM	G8766E109
—	CLIFTON BANCORP INC COM	181,421	$2.999M	0.7%	$12.76	—	COM	186873105
—	ENERPLUS CORPORATION	367,847	$2.987M	0.7%	$12.01	—	COM	292766102
—	WASHINGTONFIRST BANKSHARES ICO	86,289	$2.98M	0.7%	$11.67	—	COM	940730104
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.945M	0.6%	$8.23	+36.4%	COM	J4687C105
FEIM	FREQUENCY ELECTRS INC COM	298,909	$2.852M	0.6%	$7.91	+0.8%	COM	358010106
—	CHUBU NIPPON BROADCAST CO LTSH	402,137	$2.831M	0.6%	$5.73	—	COM	J06594105
—	PENGROWTH ENERGY CORPORATION	3,176,826	$2.511M	0.5%	$2.63	—	COM	70706P104
WSM	WILLIAMS SONOMA INC COM	47,900	$2.323M	0.5%	$20.12	+3.8%	COM	969904101
—	URSTADT BIDDLE PPTYS INC CL A	117,277	$2.322M	0.5%	$20.17	—	COM	917286205
—	WESTERN ASSET CLYM INFL OPP CO	209,559	$2.31M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.297M	0.5%	$39.25	—	COM	210226106
DDS	DILLARDS INC CL A	37,700	$2.175M	0.5%	$43.85	-9.6%	COM	254067101
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$2.131M	0.5%	$4.41	+36.4%	COM	140501107
TRMLF	TOURMALINE OIL CORP COM	95,219	$2.043M	0.4%	$27.46	-51.4%	COM	89156V106
—	LUBYS CAFETERIAS INC COM	660,804	$1.857M	0.4%	$5.27	—	COM	549282101
—	SCHULMAN A INC COM	55,467	$1.775M	0.4%	$26.82	—	COM	808194104
THG	HANOVER INS GROUP INC COM	19,825	$1.757M	0.4%	$34.95	+90.6%	COM	410867105
MRK	MERCK & COMPANY	27,225	$1.745M	0.4%	$31.22	+49.1%	COM	58933Y105
TKOMY	TOKIO MARINE HOLDINGS INC	40,675	$1.684M	0.4%	$31.66	—	COM	889094108
WRB	BERKLEY W R CORP COM	24,322	$1.682M	0.4%	$14.61	+13.7%	COM	084423102
CNC	CENTENE CORP DEL COM	20,000	$1.598M	0.3%	$29.50	+27.9%	COM	15135B101
VWDRY	VESTAS WIND SYS AS UNSP ADR	51,100	$1.57M	0.3%	$4.73	—	COM	925458101
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.451M	0.3%	$246.69	+6.2%	WARRANT AND RIGH	H69293217
—	WESTERN ASSET CLYM INFL SEC CO	126,349	$1.428M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
ELME	WASHINGTON REAL ESTATE INVT SH	44,710	$1.426M	0.3%	$26.20	—	COM	939653101
KIM	KIMCO RLTY CORP COM	77,202	$1.417M	0.3%	$13.36	-5.1%	COM	49446R109
—	ROYAL DUTCH SHELL PLC SPONS AD	25,790	$1.372M	0.3%	$63.98	—	COM	780259206
ALOT	ASTRO-MED INC NEW COM	105,386	$1.359M	0.3%	$9.12	+47.8%	COM	04638F108
—	SI FINANCIAL GROUP INC	78,009	$1.256M	0.3%	$11.05	—	COM	78425V104
—	NEW YORK & CO INC COM	869,412	$1.2M	0.3%	$3.11	—	COM	649295102
—	KIMBALL INTL INC CL B	71,065	$1.186M	0.3%	$9.71	—	COM	494274103
—	ARGO GROUP US INC SR NT 42	45,416	$1.149M	0.3%	$24.97	—	PREFERRED STOCKS	040130205
—	AEGON N V PERP CAP FLTG	43,448	$1.082M	0.2%	$22.52	—	PREFERRED STOCKS	007924509
—	CIMAREX ENERGY CO COM	10,968	$1.031M	0.2%	$64.99	—	COM	171798101
FTEK	FUEL TECH INC COM	1,266,762	$1.001M	0.2%	$2.95	-70.4%	COM	359523107
OCFC	OCEANFIRST FINL CORP COM	36,145	$980K	0.2%	$12.81	+53.9%	COM	675234108
KE	KIMBALL ELECTRONICS INC COM	48,819	$881K	0.2%	$10.71	+60.9%	COM	49428J109
—	STATE AUTO FINL CORP	34,200	$880K	0.2%	$18.18	—	COM	855707105
ECL	ECOLAB INC COM	6,400	$850K	0.2%	$90.95	+29.4%	COM	278865100
GNLAF	GENESIS LAND DEV CORP COM	305,200	$818K	0.2%	$2.74	-14.9%	COM	37183V102
DVN	DEVON ENERGY CORP NEW COM	24,900	$796K	0.2%	$24.98	+3.5%	COM	25179M103
—	VECTREN CORP COM	13,192	$771K	0.2%	$33.83	—	COM	92240G101
MSFT	MICROSOFT CORP COM	9,400	$648K	0.1%	$33.74	+84.7%	COM	594918104
—	GENERAL ELEC CO	23,581	$637K	0.1%	$23.50	—	COM	369604103
—	OBSIDIAN ENERGY LTD	498,863	$634K	0.1%	$1.27	—	COM	674482104
—	CURRENCYSHARES EURO TRUST	5,700	$630K	0.1%	$128.99	—	COM	23130C108
—	RAYONIER ADVANCED MATLS INC PF	5,050	$594K	0.1%	$104.75	—	CONVERTIBLE PREF	75508B203
BMY	BRISTOL MYERS SQUIBB CO	9,848	$549K	0.1%	$28.67	+39.2%	COM	110122108
—	WEST MARINE INC COM	40,666	$523K	0.1%	$10.99	—	COM	954235107
—	AEGON N V SUB NT 42	19,500	$505K	0.1%	$26.03	—	PREFERRED STOCKS	007924608
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$462K	0.1%	$10.65	+32.8%	COM	493026108
—	ROYCE GLOBAL VALUE TR INC COM	47,206	$454K	0.1%	$7.19	—	COM	78081T104
WMT	WAL MART STORES INC	5,984	$453K	0.1%	$20.00	+10.1%	COM	931142103
PFE	PFIZER INC COM	12,579	$423K	0.1%	$16.46	+31.2%	COM	717081103
AAPL	APPLE COMPUTER INC COM	2,565	$369K	0.1%	$26.53	+29.3%	COM	037833100
—	BOULDER GROWTH & INCOME FD ICO	36,560	$355K	0.1%	$7.93	—	COM	101507101
—	NORTH ATLANTIC SMALLER INV. TR	10,000	$341K	0.1%	$34.31	—	COM	0643900GB
NMHYX	NORTHERN FDS MLT HIYLD OPPT	33,141	$332K	0.1%	$10.02	—	MUTUAL FUNDS	665162442
—	ASPEN INSURANCE HOLDINGS LTDSH	6,500	$324K	0.1%	$37.08	—	COM	G05384105
—	BRUNSWICK BANCORP INC COM	44,352	$322K	0.1%	$4.93	—	COM	117030106
—	ORYX INTERNATIONAL GROWTH FUND	34,964	$322K	0.1%	$4.48	—	COM	G6775Y108
KO	COCA COLA CO COM	7,066	$317K	0.1%	$27.85	+20.9%	COM	191216100
—	EXPRESS SCRIPTS HOLDING COMPAN	4,741	$303K	0.1%	$62.11	—	COM	30219G108
MET	METLIFE INC COM	5,103	$280K	0.1%	$24.65	+40.5%	COM	59156R108
PTEN	PATTERSON-UTI ENERGY INC COM	13,800	$279K	0.1%	$21.83	-0.2%	COM	703481101
—	ENERGY TRANSFER PARTNERS LP	12,834	$262K	0.1%	$20.41	—	COM	29278N103
ES	EVERSOURCE ENERGY COM	4,200	$255K	0.1%	$38.94	+15.7%	COM	30040W108
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$255K	0.1%	$230816.08	+8.2%	COM	084670108
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$248K	0.1%	$12.47	+14.4%	COM	J86298106
MOG/A	MOOG INC CL A	3,375	$242K	0.1%	$52.69	+21.3%	COM	615394202
0NMK	VESTAS WIND SYS AS SHS	2,500	$231K	0.1%	$82.00	—	COM	K9773J128
—	MFS GOVT MKTS INCOME TR SH BEN	44,575	$223K	0.0%	$5.97	—	MUTUAL FUNDS	552939100
CSCO	CISCO SYS INC COM	6,940	$217K	0.0%	$20.16	+24.3%	COM	17275R102
—	BLACKROCK NY INS MUN INC TR CO	15,751	$211K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
—	SUNSHINE BANCORP INC COM	9,773	$208K	0.0%	$20.98	—	COM	86777J108
ATO	ATMOS ENERGY CORP COM	2,500	$207K	0.0%	$58.13	+15.0%	COM	049560105
FRD	FRIEDMAN INDS INC	36,444	$207K	0.0%	$8.37	-37.2%	COM	358435105
NSGRX	NORTHERN FDS NRTN SMCAP COR	8,354	$206K	0.0%	$24.66	—	MUTUAL FUNDS	665162665
CVS	CVS CORP COM	2,480	$199K	0.0%	$60.32	0.0%	COM	126650100
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$127K	0.0%	$8.21	-7.2%	COM	096005301
—	CASTLE A M & CO	691,143	$79,000	0.0%	$9.30	—	COM	148411101
—	ORION ENERGY SYSTEMS INC COM	15,883	$20,000	0.0%	$2.48	—	COM	686275108
—	BIOSTAGE INC COM	30,000	$12,000	0.0%	$0.40	—	COM	09074M103
—	GASFRAC ENERGY SVCS INC COM	486,300	$0	0.0%	$1.29	—	COM	367257201
—	FAIRFAX FINL HLDGS LTD CONINGE	41,000	$0	0.0%	—	—	WARRANT AND RIGH	303901110
LECH 5 09/27/01	LECHTERS INC 20010927	345,000	$0	0.0%	—	—	CONVERTIBLE BOND	U52323AA7
KIDBQ	KID BRANDS, INC. COM	155,947	$0	0.0%	$1.44	-99.9%	COM	49375T100