Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUM GROUP	534,470	$25.45M	5.2%	$28.04	+86.4%	COM	91529Y106
AIT	APPLIED INDL TECHNLGIES INC CO	239,844	$17.48M	3.6%	$36.66	+75.3%	COM	03820C105
EG	EVEREST RE GROUP	63,169	$16.22M	3.3%	$99.45	+105.1%	COM	G3223R108
HP	HELMERICH & PAYNE INC	198,637	$13.22M	2.7%	$59.25	+13.9%	COM	423452101
NUE	NUCOR CORP	210,257	$12.85M	2.6%	$32.41	+72.1%	COM	670346105
GRC	GORMAN RUPP CO	363,252	$10.63M	2.2%	$24.93	+17.8%	COM	383082104
SCL	STEPAN CHEMICAL CO	126,936	$10.56M	2.2%	$51.68	+53.3%	COM	858586100
—	FIBRIA CELULOSE S.A. SP ADR	537,940	$10.49M	2.2%	$9.22	—	COM	31573A109
BA	BOEING CO	30,750	$10.08M	2.1%	$135.00	+139.2%	COM	097023105
—	ARGO GROUP INTL HLDGS LTD COM	174,816	$10.03M	2.1%	$45.53	—	COM	G0464B107
CALY	CALLAWAY GOLF CO COM	604,416	$9.888M	2.0%	$6.64	+128.0%	COM	131193104
WSO	WATSCO INC	53,950	$9.763M	2.0%	$84.42	+105.3%	COM	942622200
—	FOREST CITY REALTY TRUST CL A	458,704	$9.293M	1.9%	$21.19	—	COM	345605109
MUR	MURPHY OIL CORP COM	355,656	$9.19M	1.9%	$24.71	-12.1%	COM	626717102
BGOUF	BANG & OLUFSEN HLG ORD B	351,174	$8.878M	1.8%	$4.75	+207.5%	COM	K07774126
—	MAGAL SECURITY SYS LTD ORD	1,407,941	$8.124M	1.7%	$4.02	—	COM	M6786D104
FSLR	FIRST SOLAR INC COM	109,100	$7.744M	1.6%	$42.11	+61.6%	COM	336433107
662	ASIA FINANCIAL HOLDINGS LTD SH	12,812,415	$7.509M	1.5%	$0.45	—	COM	G0532X107
INGR	INGREDION INC COM	56,695	$7.309M	1.5%	$70.28	+90.4%	COM	457187102
MFC	MANULIFE FINL CORP COM	386,850	$7.188M	1.5%	$14.34	+39.6%	COM	56501R106
ALG	ALAMO GROUP INC COM	64,628	$7.103M	1.5%	$66.96	+62.2%	COM	011311107
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,038,142	$6.997M	1.4%	$4.48	+11.8%	COM	239360100
PEP	PEPSICO INC	61,568	$6.72M	1.4%	$56.07	+59.2%	COM	713448108
—	PHOENIX COS INC NEW QUIBS 2032	353,349	$6.625M	1.4%	$21.86	—	PREFERRED STOCKS	71902E208
—	HOLMEN AB SHS B	119,813	$6.495M	1.3%	$27.02	—	COM	W4200N112
—	HESKA CORP COM RESTRC NEW	81,210	$6.421M	1.3%	$6.01	—	COM	42805E306
—	TUESDAY MORNING CORP COM NEW	1,617,612	$6.39M	1.3%	$5.02	—	COM	899035505
SIG	SIGNET JEWELERS LIMITED SHS	164,570	$6.34M	1.3%	$55.88	-24.9%	COM	G81276100
WSM	WILLIAMS SONOMA INC COM	117,750	$6.212M	1.3%	$20.00	+10.7%	COM	969904101
—	LYDALL INC COM	128,128	$6.182M	1.3%	$14.60	—	COM	550819106
—	EKORNES ASA ORD	435,002	$6.098M	1.3%	$13.70	—	COM	R20126109
JNJ	JOHNSON & JOHNSON COM	47,466	$6.083M	1.2%	$60.87	+78.0%	COM	478160104
—	AEGON N V NY REGISTRY SH	889,359	$6.021M	1.2%	$5.50	—	COM	007924103
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.755M	1.2%	$55.38	+54.3%	COM	911312106
TRMLF	TOURMALINE OIL CORP COM	337,579	$5.717M	1.2%	$15.97	-34.8%	COM	89156V106
—	INVESTORS REAL ESTATE TR SH BE	1,077,817	$5.594M	1.1%	$7.51	—	COM	461730103
AMWD	AMERICAN WOODMARK CORP COM	55,454	$5.459M	1.1%	$79.00	+58.5%	COM	030506109
LNT	ALLIANT CORP COM	130,840	$5.346M	1.1%	$27.74	+11.2%	COM	018802108
—	EMC INS GROUP INC	190,151	$5.149M	1.1%	$26.41	—	COM	268664109
RYAM	RAYONIER ADVANCED MATLS INC CO	235,053	$5.047M	1.0%	$16.55	+18.3%	COM	75508B104
ORN	ORION MARINE GROUP INC COM	744,453	$4.906M	1.0%	$7.93	-9.4%	COM	68628V308
GD	GENERAL DYNAMICS CORP COM	20,000	$4.418M	0.9%	$96.13	+89.3%	COM	369550108
KIM	KIMCO RLTY CORP COM	296,902	$4.275M	0.9%	$11.23	-7.4%	COM	49446R109
WST	WEST PHARMACEUTICAL SVCS INCCO	46,590	$4.113M	0.8%	$33.09	+175.7%	COM	955306105
—	HARDINGE INC COM	222,605	$4.078M	0.8%	$11.28	—	COM	412324303
INN	SUMMIT HOTEL PPTYS INC COM	297,749	$4.052M	0.8%	$11.95	—	COM	866082100
—	ASPEN INSURANCE HOLDINGS LTDSH	82,050	$3.68M	0.8%	$40.13	—	COM	G05384105
TWI	TITAN INTL INC ILL COM	291,632	$3.677M	0.8%	$6.57	+95.7%	COM	88830M102
—	WESTPORT FUEL SYSTEMS INC.	1,629,063	$3.568M	0.7%	$1.74	—	COM	960908309
TWIN	TWIN DISC INC COM	162,457	$3.532M	0.7%	$12.28	+105.2%	COM	901476101
—	ENERPLUS CORPORATION	307,909	$3.467M	0.7%	$12.01	—	COM	292766102
—	CHUBU NIPPON BROADCAST CO LTSH	402,137	$3.351M	0.7%	$5.73	—	COM	J06594105
—	HMN FINL INC COM	178,256	$3.307M	0.7%	$7.17	—	COM	40424G108
XOM	EXXON MOBIL CORPORATION	43,701	$3.261M	0.7%	$53.69	+3.8%	COM	30231G102
BWEN	BROADWIND ENERGY INC COM NEW	1,440,177	$3.168M	0.7%	$4.09	-40.6%	COM	11161T207
—	BROADWAY FINL CORP DEL COM	1,476,671	$3.116M	0.6%	$1.14	—	COM	111444105
—	WESTROCK CO COM	43,537	$2.794M	0.6%	$51.44	—	COM	96145D105
—	SANDY SPRING BANCORP INC COM	72,006	$2.791M	0.6%	$38.76	—	COM	800363103
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.769M	0.6%	$8.23	+33.2%	COM	J4687C105
—	TEXTAINER GROUP HOLDINGS LTDSH	162,055	$2.747M	0.6%	$20.71	—	COM	G8766E109
—	NEW YORK & CO INC COM	811,412	$2.743M	0.6%	$3.11	—	COM	649295102
FEIM	FREQUENCY ELECTRS INC COM	312,793	$2.737M	0.6%	$7.86	-5.2%	COM	358010106
—	CLIFTON BANCORP INC COM	164,860	$2.58M	0.5%	$12.76	—	COM	186873105
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.535M	0.5%	$39.25	—	COM	210226106
DDS	DILLARDS INC CL A	31,450	$2.527M	0.5%	$43.63	+24.6%	COM	254067101
—	USA TRUCK INC COM	93,470	$2.383M	0.5%	$6.60	—	COM	902925106
—	WESTERN ASSET CLYM INFL OPP CO	208,759	$2.363M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
CSWC	CAPITAL SOUTHWEST CORP COM	132,528	$2.256M	0.5%	$4.41	+48.6%	COM	140501107
—	URSTADT BIDDLE PPTYS INC CL A	116,627	$2.251M	0.5%	$20.17	—	COM	917286205
—	PENGROWTH ENERGY CORPORATION	3,422,192	$2.187M	0.4%	$2.48	—	COM	70706P104
CSW	CSW INDUSTRIALS INC COM	47,184	$2.126M	0.4%	$34.83	+28.9%	COM	126402106
BHF	BRIGHTHOUSE FINL INC COM	40,468	$2.08M	0.4%	$58.39	-1.1%	COM	10922N103
RYN	RAYONIER INC COM	56,876	$2.001M	0.4%	$30.80	—	COM	754907103
—	LUBYS CAFETERIAS INC COM	658,804	$1.831M	0.4%	$5.27	—	COM	549282101
TKOMY	TOKIO MARINE HOLDINGS INC	40,325	$1.81M	0.4%	$31.66	—	COM	889094108
WRB	BERKLEY W R CORP COM	24,322	$1.768M	0.4%	$14.61	+19.5%	COM	084423102
—	ROYAL DUTCH SHELL PLC SPONS AD	25,790	$1.646M	0.3%	$63.98	—	COM	780259206
ALOT	ASTRO-MED INC NEW COM	105,386	$1.633M	0.3%	$9.12	+45.4%	COM	04638F108
FTEK	FUEL TECH INC COM	1,309,820	$1.572M	0.3%	$2.89	-59.6%	COM	359523107
MRK	MERCK & COMPANY	27,525	$1.499M	0.3%	$31.34	+34.8%	COM	58933Y105
—	WESTERN ASSET CLYM INFL SEC CO	121,849	$1.405M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.3M	0.3%	$246.69	-2.6%	WARRANT AND RIGH	H69293217
VWDRY	VESTAS WIND SYS AS UNSP ADR	53,700	$1.269M	0.3%	$5.61	—	COM	925458101
ELME	WASHINGTON REAL ESTATE INVT SH	44,710	$1.221M	0.3%	$26.20	—	COM	939653101
—	KIMBALL INTL INC CL B	71,065	$1.211M	0.2%	$9.71	—	COM	494274103
—	ARGO GROUP US INC SR NT 42	45,416	$1.147M	0.2%	$24.97	—	PREFERRED STOCKS	040130205
—	SI FINANCIAL GROUP INC	78,009	$1.123M	0.2%	$11.05	—	COM	78425V104
—	AEGON N V PERP CAP FLTG	41,348	$1.032M	0.2%	$22.52	—	PREFERRED STOCKS	007924509
—	CIMAREX ENERGY CO COM	10,968	$1.026M	0.2%	$64.99	—	COM	171798101
OCFC	OCEANFIRST FINL CORP COM	36,145	$967K	0.2%	$12.81	+54.5%	COM	675234108
—	STATE AUTO FINL CORP	32,700	$934K	0.2%	$18.18	—	COM	855707105
GNLAF	GENESIS LAND DEV CORP COM	305,200	$887K	0.2%	$2.74	+5.4%	COM	37183V102
ECL	ECOLAB INC COM	6,400	$877K	0.2%	$90.95	+35.8%	COM	278865100
MSFT	MICROSOFT CORP COM	9,165	$837K	0.2%	$33.74	+149.9%	COM	594918104
—	VECTREN CORP COM	12,697	$812K	0.2%	$33.83	—	COM	92240G101
DVN	DEVON ENERGY CORP NEW COM	24,900	$792K	0.2%	$24.98	+4.4%	COM	25179M103
THG	HANOVER INS GROUP INC COM	6,675	$787K	0.2%	$34.95	+153.2%	COM	410867105
—	RAYONIER ADVANCED MATLS INC PF	5,050	$758K	0.2%	$104.75	—	CONVERTIBLE PREF	75508B203
KE	KIMBALL ELECTRONICS INC COM	42,471	$686K	0.1%	$10.71	+67.8%	COM	49428J109
—	CURRENCYSHARES EURO TRUST	5,700	$674K	0.1%	$128.99	—	COM	23130C108
—	CUI GLOBAL INC COM NEW	255,420	$664K	0.1%	$2.74	—	COM	126576206
KEWL	KEWEENAW LD ASSN LTD COM	6,376	$642K	0.1%	$11.55	+21.0%	COM	493026108
BMY	BRISTOL MYERS SQUIBB CO	9,848	$623K	0.1%	$28.67	+67.8%	COM	110122108
0NMK	VESTAS WIND SYS AS SHS	7,500	$539K	0.1%	$73.47	—	COM	K9773J128
WMT	WAL MART STORES INC	5,984	$532K	0.1%	$20.00	+41.7%	COM	931142103
—	ROYCE GLOBAL VALUE TR INC COM	47,692	$523K	0.1%	$7.23	—	COM	78081T104
AAPL	APPLE COMPUTER INC COM	2,607	$437K	0.1%	$26.75	+51.1%	COM	037833100
PFE	PFIZER INC COM	11,998	$426K	0.1%	$16.46	+47.3%	COM	717081103
—	OBSIDIAN ENERGY LTD	419,390	$411K	0.1%	$1.27	—	COM	674482104
—	BOULDER GROWTH & INCOME FD ICO	36,560	$394K	0.1%	$7.93	—	COM	101507101
—	NORTH ATLANTIC SMALLER INV. TR	10,000	$370K	0.1%	$34.31	—	COM	0643900GB
—	GENERAL ELEC CO	23,581	$318K	0.1%	$23.50	—	COM	369604103
—	EXPRESS SCRIPTS HOLDING COMPAN	4,569	$316K	0.1%	$62.11	—	COM	30219G108
KO	COCA COLA CO COM	7,066	$307K	0.1%	$27.85	+25.9%	COM	191216100
—	BRUNSWICK BANCORP INC COM	44,352	$300K	0.1%	$4.93	—	COM	117030106
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$299K	0.1%	$230816.08	+33.5%	COM	084670108
CSCO	CISCO SYS INC COM	6,940	$298K	0.1%	$20.16	+65.9%	COM	17275R102
MOG/A	MOOG INC CL A	3,375	$278K	0.1%	$52.69	+51.4%	COM	615394202
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$271K	0.1%	$12.47	+24.9%	COM	J86298106
—	ORYX INTERNATIONAL GROWTH FUND	24,964	$266K	0.1%	$4.48	—	COM	G6775Y108
ES	EVERSOURCE ENERGY COM	4,200	$247K	0.1%	$38.94	+15.2%	COM	30040W108
—	SCHULMAN A INC COM	5,500	$237K	0.0%	$26.82	—	COM	808194104
—	AEGON N V SUB NT	8,600	$228K	0.0%	$26.03	—	PREFERRED STOCKS	007924608
FRD	FRIEDMAN INDS INC	36,444	$214K	0.0%	$8.37	-36.8%	COM	358435105
NSGRX	NORTHERN FDS NRTN SMCAP COR	8,354	$213K	0.0%	$24.66	—	MUTUAL FUNDS	665162665
—	ENERGY TRANSFER PARTNERS LP	12,834	$208K	0.0%	$20.41	—	COM	29278N103
—	BLACKROCK NY INS MUN INC TR CO	15,751	$197K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
—	MFS GOVT MKTS INCOME TR SH BEN	35,259	$163K	0.0%	$5.97	—	MUTUAL FUNDS	552939100
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$126K	0.0%	$8.21	-10.5%	COM	096005301
BNMLX	BLACKROCK MUN BD FD INC NATL M	10,152	$109K	0.0%	$10.92	—	MUTUAL FUNDS	09253C744
HRGN	BIOSTAGE INC COM NEW	15,000	$47,000	0.0%	$1.82	+62.3%	COM	09074M202
—	ORION ENERGY SYSTEMS INC COM	15,883	$14,000	0.0%	$2.48	—	COM	686275108
KIDBQ	KID BRANDS, INC. COM	155,947	$0	0.0%	$1.44	-99.8%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	486,300	$0	0.0%	$1.29	—	COM	367257201