Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUMPROVIDENT CORP	578,680	$29.59M	6.2%	$28.04	+74.0%	COM	91529Y106
AIT	APPLIED INDL TECHNLGIES INC CO	241,844	$15.91M	3.3%	$36.66	+40.5%	COM	03820C105
EG	EVEREST RE GROUP	63,419	$14.48M	3.0%	$99.45	+113.0%	COM	G3223R108
GRC	GORMAN RUPP CO	364,752	$11.88M	2.5%	$24.93	+15.2%	COM	383082104
NUE	NUCOR CORP	210,257	$11.78M	2.5%	$32.41	+45.0%	COM	670346105
—	FOREST CITY REALTY TRUST CL A	454,304	$11.59M	2.4%	$21.19	—	COM	345605109
HP	HELMERICH & PAYNE INC	205,895	$10.73M	2.2%	$59.25	-16.5%	COM	423452101
SCL	STEPAN CHEMICAL CO	126,936	$10.62M	2.2%	$51.68	+59.1%	COM	858586100
CALY	CALLAWAY GOLF CO COM	673,216	$9.715M	2.0%	$6.64	+98.1%	COM	131193104
—	ARGO GROUP INTL HLDGS LTD COM	153,752	$9.456M	2.0%	$43.88	—	COM	G0464B107
BGOUF	BANG & OLUFSEN HLG ORD B	435,262	$9.389M	2.0%	$4.75	+93.6%	COM	K07774126
MUR	MURPHY OIL CORP COM	345,464	$9.175M	1.9%	$25.12	-26.3%	COM	626717102
—	FIBRIA CELULOSE S.A. SP ADR	652,540	$8.835M	1.8%	$9.22	—	COM	31573A109
WSO	WATSCO INC	54,650	$8.802M	1.8%	$84.42	+79.0%	COM	942622200
MFC	MANULIFE FINL CORP COM	420,050	$8.523M	1.8%	$14.34	+38.6%	COM	56501R106
SIG	SIGNET JEWELERS LIMITED SHS	118,320	$7.874M	1.6%	$60.95	-15.5%	COM	G81276100
BA	BOEING CO	30,824	$7.836M	1.6%	$135.00	+63.3%	COM	097023105
662	ASIA FINANCIAL HOLDINGS LTD SH	12,812,415	$7.545M	1.6%	$0.45	—	COM	G0532X107
—	LYDALL INC COM	129,078	$7.396M	1.5%	$14.60	—	COM	550819106
—	HESKA CORP COM RESTRC NEW	81,210	$7.154M	1.5%	$6.01	—	COM	42805E306
PEP	PEPSICO INC	63,618	$7.089M	1.5%	$56.07	+59.5%	COM	713448108
ALG	ALAMO GROUP INC COM	65,128	$6.993M	1.5%	$66.96	+33.9%	COM	011311107
INGR	INGREDION INC COM	57,220	$6.903M	1.4%	$70.28	+73.5%	COM	457187102
—	PHOENIX COS INC NEW QUIBS 2032	356,949	$6.86M	1.4%	$21.86	—	PREFERRED STOCKS	71902E208
—	MAGAL SECURITY SYS LTD ORD	1,410,945	$6.773M	1.4%	$4.02	—	COM	M6786D104
—	HOLMEN AB SHS B	142,063	$6.634M	1.4%	$27.02	—	COM	W4200N112
UPS	UNITED PARCEL SVC INC CL B	54,990	$6.604M	1.4%	$55.38	+49.6%	COM	911312106
LNT	ALLIANT CORP COM	152,240	$6.329M	1.3%	$27.74	+15.5%	COM	018802108
JNJ	JOHNSON & JOHNSON COM	47,466	$6.171M	1.3%	$60.87	+72.4%	COM	478160104
—	EKORNES ASA ORD	435,002	$6.167M	1.3%	$13.70	—	COM	R20126109
—	INVESTORS REAL ESTATE TR SH BE	929,617	$5.679M	1.2%	$7.88	—	COM	461730103
—	TUESDAY MORNING CORP COM NEW	1,698,168	$5.434M	1.1%	$5.02	—	COM	899035505
AMWD	AMERICAN WOODMARK CORP COM	56,154	$5.405M	1.1%	$77.27	+19.8%	COM	030506109
—	AEGON N V NY REGISTRY SH	921,661	$5.336M	1.1%	$5.50	—	COM	007924103
—	EMC INS GROUP INC	185,939	$5.234M	1.1%	$26.40	—	COM	268664109
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,147,573	$5.199M	1.1%	$4.48	-25.7%	COM	239360100
FSLR	FIRST SOLAR INC COM	110,000	$5.047M	1.0%	$42.11	+10.1%	COM	336433107
ORN	ORION MARINE GROUP INC COM	744,453	$4.884M	1.0%	$7.93	-19.9%	COM	68628V308
—	WESTPORT FUEL SYSTEMS INC.	1,455,527	$4.76M	1.0%	$1.67	—	COM	960908309
RYN	RAYONIER INC COM	160,426	$4.635M	1.0%	$30.80	—	COM	754907103
WSM	WILLIAMS SONOMA INC COM	92,450	$4.61M	1.0%	$19.67	-2.4%	COM	969904101
WST	WEST PHARMACEUTICAL SVCS INCCO	46,590	$4.485M	0.9%	$33.09	+165.9%	COM	955306105
GD	GENERAL DYNAMICS CORP COM	20,000	$4.112M	0.9%	$96.13	+73.1%	COM	369550108
INN	SUMMIT HOTEL PPTYS INC COM	242,049	$3.87M	0.8%	$11.57	—	COM	866082100
TWIN	TWIN DISC INC COM	207,320	$3.858M	0.8%	$12.28	+36.5%	COM	901476101
—	HARDINGE INC COM	250,274	$3.822M	0.8%	$11.28	—	COM	412324303
RYAM	RAYONIER ADVANCED MATLS INC CO	277,337	$3.8M	0.8%	$16.55	-13.9%	COM	75508B104
—	PENGROWTH ENERGY CORPORATION	3,511,892	$3.617M	0.8%	$2.48	—	COM	70706P104
XOM	EXXON MOBIL CORPORATION	43,652	$3.579M	0.7%	$53.69	+1.2%	COM	30231G102
—	BROADWAY FINL CORP DEL COM	1,476,671	$3.426M	0.7%	$1.14	—	COM	111444105
—	ASPEN INSURANCE HOLDINGS LTDSH	82,250	$3.322M	0.7%	$40.13	—	COM	G05384105
—	ENERPLUS CORPORATION	335,786	$3.314M	0.7%	$12.01	—	COM	292766102
—	TEXTAINER GROUP HOLDINGS LTDSH	187,355	$3.213M	0.7%	$20.71	—	COM	G8766E109
—	HMN FINL INC COM	178,256	$3.182M	0.7%	$7.17	—	COM	40424G108
TWI	TITAN INTL INC ILL COM	308,328	$3.13M	0.7%	$6.57	+56.7%	COM	88830M102
—	USA TRUCK INC COM	221,552	$3.113M	0.6%	$6.60	—	COM	902925106
—	WESTROCK CO COM	54,175	$3.073M	0.6%	$51.44	—	COM	96145D105
—	WASHINGTONFIRST BANKSHARES ICO	86,289	$3.071M	0.6%	$11.67	—	COM	940730104
—	CLIFTON BANCORP INC COM	181,421	$3.033M	0.6%	$12.76	—	COM	186873105
BWEN	BROADWIND ENERGY INC COM NEW	932,077	$3.02M	0.6%	$4.88	-23.0%	COM	11161T207
FEIM	FREQUENCY ELECTRS INC COM	312,793	$2.987M	0.6%	$7.86	-14.1%	COM	358010106
—	CHUBU NIPPON BROADCAST CO LTSH	402,137	$2.942M	0.6%	$5.73	—	COM	J06594105
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.82M	0.6%	$8.23	+39.3%	COM	J4687C105
—	URSTADT BIDDLE PPTYS INC CL A	116,627	$2.53M	0.5%	$20.17	—	COM	917286205
CSW	CSW INDUSTRIALS INC COM	56,510	$2.506M	0.5%	$34.83	+12.4%	COM	126402106
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.423M	0.5%	$39.25	—	COM	210226106
—	WESTERN ASSET CLYM INFL OPP CO	208,759	$2.355M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$2.27M	0.5%	$4.41	+41.5%	COM	140501107
TRMLF	TOURMALINE OIL CORP COM	100,219	$2.037M	0.4%	$26.75	-50.2%	COM	89156V106
DDS	DILLARDS INC CL A	33,800	$1.895M	0.4%	$43.85	+5.4%	COM	254067101
—	SCHULMAN A INC COM	55,467	$1.894M	0.4%	$26.82	—	COM	808194104
—	NEW YORK & CO INC COM	869,412	$1.808M	0.4%	$3.11	—	COM	649295102
—	LUBYS CAFETERIAS INC COM	660,804	$1.751M	0.4%	$5.27	—	COM	549282101
MRK	MERCK & COMPANY	27,225	$1.743M	0.4%	$31.22	+49.5%	COM	58933Y105
THG	HANOVER INS GROUP INC COM	17,024	$1.65M	0.3%	$34.95	+112.1%	COM	410867105
WRB	BERKLEY W R CORP COM	24,322	$1.623M	0.3%	$14.61	+13.3%	COM	084423102
TKOMY	TOKIO MARINE HOLDINGS INC	40,675	$1.591M	0.3%	$31.66	—	COM	889094108
—	ROYAL DUTCH SHELL PLC SPONS AD	25,790	$1.562M	0.3%	$63.98	—	COM	780259206
VWDRY	VESTAS WIND SYS AS UNSP ADR	51,100	$1.529M	0.3%	$4.73	—	COM	925458101
KIM	KIMCO RLTY CORP COM	77,202	$1.509M	0.3%	$13.36	-3.7%	COM	49446R109
ELME	WASHINGTON REAL ESTATE INVT SH	44,710	$1.465M	0.3%	$26.20	—	COM	939653101
—	WESTERN ASSET CLYM INFL SEC CO	126,349	$1.459M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.451M	0.3%	$246.69	+2.5%	WARRANT AND RIGH	H69293217
—	KIMBALL INTL INC CL B	71,065	$1.405M	0.3%	$9.71	—	COM	494274103
ALOT	ASTRO-MED INC NEW COM	105,386	$1.37M	0.3%	$9.12	+40.7%	COM	04638F108
FTEK	FUEL TECH INC COM	1,307,797	$1.334M	0.3%	$2.89	-69.3%	COM	359523107
—	CIMAREX ENERGY CO COM	10,968	$1.247M	0.3%	$64.99	—	COM	171798101
—	SI FINANCIAL GROUP INC	78,009	$1.166M	0.2%	$11.05	—	COM	78425V104
—	ARGO GROUP US INC SR NT 42	45,416	$1.145M	0.2%	$24.97	—	PREFERRED STOCKS	040130205
—	AEGON N V PERP CAP FLTG	41,348	$1.001M	0.2%	$22.52	—	PREFERRED STOCKS	007924509
OCFC	OCEANFIRST FINL CORP COM	36,145	$994K	0.2%	$12.81	+47.7%	COM	675234108
KE	KIMBALL ELECTRONICS INC COM	43,598	$944K	0.2%	$10.71	+80.5%	COM	49428J109
DVN	DEVON ENERGY CORP NEW COM	24,900	$914K	0.2%	$24.98	-8.1%	COM	25179M103
—	STATE AUTO FINL CORP	34,200	$897K	0.2%	$18.18	—	COM	855707105
—	VECTREN CORP COM	13,027	$857K	0.2%	$33.83	—	COM	92240G101
GNLAF	GENESIS LAND DEV CORP COM	305,200	$856K	0.2%	$2.74	-8.4%	COM	37183V102
ECL	ECOLAB INC COM	6,400	$823K	0.2%	$90.95	+32.0%	COM	278865100
BHF	BRIGHTHOUSE FINL INC COM	11,563	$703K	0.1%	$59.99	0.0%	COM	10922N103
MSFT	MICROSOFT CORP COM	9,400	$700K	0.1%	$33.74	+97.6%	COM	594918104
—	CURRENCYSHARES EURO TRUST	5,700	$650K	0.1%	$128.99	—	COM	23130C108
BMY	BRISTOL MYERS SQUIBB CO	9,848	$628K	0.1%	$28.67	+50.4%	COM	110122108
—	GENERAL ELEC CO	23,581	$570K	0.1%	$23.50	—	COM	369604103
—	RAYONIER ADVANCED MATLS INC PF	5,050	$533K	0.1%	$104.75	—	CONVERTIBLE PREF	75508B203
—	OBSIDIAN ENERGY LTD	497,363	$522K	0.1%	$1.27	—	COM	674482104
—	AEGON N V SUB NT	18,700	$491K	0.1%	$26.03	—	PREFERRED STOCKS	007924608
—	ROYCE GLOBAL VALUE TR INC COM	47,206	$489K	0.1%	$7.19	—	COM	78081T104
WMT	WAL MART STORES INC	5,984	$468K	0.1%	$20.00	+14.5%	COM	931142103
PFE	PFIZER INC COM	12,579	$449K	0.1%	$16.46	+35.2%	COM	717081103
KEWL	KEWEENAW LD ASSN LTD COM	4,403	$449K	0.1%	$10.65	+32.6%	COM	493026108
AAPL	APPLE COMPUTER INC COM	2,565	$395K	0.1%	$26.53	+36.3%	COM	037833100
—	BOULDER GROWTH & INCOME FD ICO	36,560	$373K	0.1%	$7.93	—	COM	101507101
—	NORTH ATLANTIC SMALLER INV. TR	10,000	$352K	0.1%	$34.31	—	COM	0643900GB
NMHYX	NORTHERN FDS MLT HIYLD OPPT	33,141	$334K	0.1%	$10.02	—	MUTUAL FUNDS	665162442
—	ORYX INTERNATIONAL GROWTH FUND	34,964	$327K	0.1%	$4.48	—	COM	G6775Y108
KO	COCA COLA CO COM	7,066	$318K	0.1%	$27.85	+25.4%	COM	191216100
—	BRUNSWICK BANCORP INC COM	44,352	$310K	0.1%	$4.93	—	COM	117030106
—	EXPRESS SCRIPTS HOLDING COMPAN	4,741	$300K	0.1%	$62.11	—	COM	30219G108
PTEN	PATTERSON-UTI ENERGY INC COM	13,800	$289K	0.1%	$21.83	-15.6%	COM	703481101
MOG/A	MOOG INC CL A	3,375	$282K	0.1%	$52.69	+32.8%	COM	615394202
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$275K	0.1%	$230816.08	+15.0%	COM	084670108
MET	METLIFE INC COM	5,103	$265K	0.1%	$24.65	+48.6%	COM	59156R108
ES	EVERSOURCE ENERGY COM	4,200	$254K	0.1%	$38.94	+18.2%	COM	30040W108
—	ENERGY TRANSFER PARTNERS LP	12,834	$235K	0.0%	$20.41	—	COM	29278N103
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$234K	0.0%	$12.47	+13.7%	COM	J86298106
CSCO	CISCO SYS INC COM	6,940	$233K	0.0%	$20.16	+22.6%	COM	17275R102
0NMK	VESTAS WIND SYS AS SHS	2,500	$226K	0.0%	$82.00	—	COM	K9773J128
FRD	FRIEDMAN INDS INC	36,444	$224K	0.0%	$8.37	-39.4%	COM	358435105
NSGRX	NORTHERN FDS NRTN SMCAP COR	8,354	$216K	0.0%	$24.66	—	MUTUAL FUNDS	665162665
—	MFS GOVT MKTS INCOME TR SH BEN	43,156	$213K	0.0%	$5.97	—	MUTUAL FUNDS	552939100
—	BLACKROCK NY INS MUN INC TR CO	15,751	$211K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
CVS	CVS CORP COM	2,480	$202K	0.0%	$60.32	+0.8%	COM	126650100
—	DOWDUPONT INC COM	2,884	$200K	0.0%	$69.35	—	COM	26078J100
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$157K	0.0%	$8.21	-11.1%	COM	096005301
—	ORION ENERGY SYSTEMS INC COM	15,883	$18,000	0.0%	$2.48	—	COM	686275108
—	BIOSTAGE INC COM	30,000	$9,000	0.0%	$0.40	—	COM	09074M103
KIDBQ	KID BRANDS, INC. COM	155,947	$0	0.0%	$1.44	-99.9%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	486,300	$0	0.0%	$1.29	—	COM	367257201
LECH 5 09/27/01	LECHTERS INC 20010927	310,000	$0	0.0%	—	—	CONVERTIBLE BOND	U52323AA7