Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUM GROUP	582,290	$17.11M	4.3%	$28.75	+21.7%	COM	91529Y106
EG	EVEREST RE GROUP	57,219	$12.46M	3.2%	$99.45	+88.9%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	207,938	$11.22M	2.8%	$36.66	+61.7%	COM	03820C105
—	ARGO GROUP INTL HLDGS LTD COM	163,801	$11.02M	2.8%	$45.53	—	COM	G0464B107
BA	BOEING CO	30,750	$9.917M	2.5%	$135.00	+148.1%	COM	097023105
GRC	GORMAN RUPP CO	304,750	$9.877M	2.5%	$24.93	+34.0%	COM	383082104
HP	HELMERICH & PAYNE INC	201,137	$9.642M	2.4%	$59.27	+3.6%	COM	423452101
—	FIBRIA CELULOSE S.A. SP ADR	535,840	$9.222M	2.3%	$9.22	—	COM	31573A109
MUR	MURPHY OIL CORP COM	383,156	$8.962M	2.3%	$24.62	-4.1%	COM	626717102
SCL	STEPAN CHEMICAL CO	109,816	$8.126M	2.1%	$51.68	+57.5%	COM	858586100
NUE	NUCOR CORP	141,867	$7.35M	1.9%	$32.41	+56.5%	COM	670346105
662	ASIA FINANCIAL HOLDINGS LTD SH	13,119,415	$7.287M	1.8%	$0.45	—	COM	G0532X107
WSO	WATSCO INC	51,900	$7.221M	1.8%	$84.42	+80.5%	COM	942622200
INGR	INGREDION INC COM	78,490	$7.174M	1.8%	$79.41	+26.0%	COM	457187102
SIG	SIGNET JEWELERS LIMITED SHS	225,720	$7.171M	1.8%	$51.08	-15.1%	COM	G81276100
MFC	MANULIFE FINL CORP COM	500,850	$7.107M	1.8%	$14.68	+8.0%	COM	56501R106
—	EMC INS GROUP INC	222,189	$7.077M	1.8%	$26.57	—	COM	268664109
PEP	PEPSICO INC	60,718	$6.708M	1.7%	$56.07	+61.7%	COM	713448108
FSLR	FIRST SOLAR INC COM	148,866	$6.32M	1.6%	$42.59	+3.1%	COM	336433107
—	MAGAL SECURITY SYS LTD ORD	1,407,941	$6.265M	1.6%	$4.02	—	COM	M6786D104
CALY	CALLAWAY GOLF CO COM	398,684	$6.1M	1.5%	$6.64	+200.0%	COM	131193104
ALG	ALAMO GROUP INC COM	77,628	$6.002M	1.5%	$69.27	+15.8%	COM	011311107
WSM	WILLIAMS SONOMA INC COM	118,700	$5.989M	1.5%	$20.31	+20.6%	COM	969904101
KIM	KIMCO RLTY CORP COM	397,652	$5.826M	1.5%	$11.16	+0.3%	COM	49446R109
—	AEGON N V NY REGISTRY SH	1,224,303	$5.693M	1.4%	$5.36	—	COM	007924103
JNJ	JOHNSON & JOHNSON COM	43,200	$5.575M	1.4%	$60.87	+87.5%	COM	478160104
BHF	BRIGHTHOUSE FINL INC COM	179,929	$5.484M	1.4%	$47.62	-18.1%	COM	10922N103
—	PHOENIX COS INC NEW QUIBS 2032	352,449	$5.463M	1.4%	$21.86	—	PREFERRED STOCKS	71902E208
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.363M	1.4%	$55.38	+48.2%	COM	911312106
BGOUF	BANG & OLUFSEN HLG ORD B	383,846	$5.228M	1.3%	$5.39	+118.2%	COM	K07774126
INN	SUMMIT HOTEL PPTYS INC COM	534,199	$5.197M	1.3%	$10.97	—	COM	866082100
—	LYDALL INC COM	251,329	$5.104M	1.3%	$17.96	—	COM	550819106
—	HESKA CORP COM RESTRC NEW	56,985	$4.906M	1.2%	$6.01	—	COM	42805E306
WST	WEST PHARMACEUTICAL SVCS INCCO	46,590	$4.567M	1.2%	$33.09	+221.2%	COM	955306105
ORN	ORION MARINE GROUP INC COM	1,044,334	$4.48M	1.1%	$7.09	-29.1%	COM	68628V308
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,289,864	$4.36M	1.1%	$4.44	-8.7%	COM	239360100
HLMMF	HOLMEN AB-B	215,026	$4.195M	1.1%	$32.61	0.0%	COM	W4R00P201
TRMLF	TOURMALINE OIL CORP COM	335,500	$4.181M	1.1%	$15.97	-40.0%	COM	89156V106
AMWD	AMERICAN WOODMARK CORP COM	74,604	$4.154M	1.1%	$75.76	-15.9%	COM	030506109
—	INVESTORS REAL ESTATE TR SH BE	78,260	$3.84M	1.0%	$49.07	—	COM	461730509
RYAM	RAYONIER ADVANCED MATLS INC CO	341,181	$3.633M	0.9%	$15.50	-12.3%	COM	75508B104
—	TEXTAINER GROUP HOLDINGS LTDSH	361,100	$3.596M	0.9%	$15.58	—	COM	G8766E109
LNT	ALLIANT CORP COM	84,034	$3.55M	0.9%	$27.74	+26.8%	COM	018802108
—	HMN FINL INC COM	176,006	$3.453M	0.9%	$7.17	—	COM	40424G108
—	ASPEN INSURANCE HOLDINGS LTDSH	82,050	$3.445M	0.9%	$40.13	—	COM	G05384105
FEIM	FREQUENCY ELECTRS INC COM	311,076	$3.297M	0.8%	$7.83	+9.6%	COM	358010106
TWIN	TWIN DISC INC COM	214,576	$3.165M	0.8%	$13.70	+30.0%	COM	901476101
GD	GENERAL DYNAMICS CORP COM	20,000	$3.144M	0.8%	$96.13	+58.2%	COM	369550108
—	TUESDAY MORNING CORP COM NEW	1,813,786	$3.083M	0.8%	$4.78	—	COM	899035505
XOM	EXXON MOBIL CORPORATION	43,427	$2.961M	0.8%	$53.69	+5.0%	COM	30231G102
—	CIMAREX ENERGY CO COM	47,418	$2.923M	0.7%	$62.42	—	COM	171798101
—	WESTPORT FUEL SYSTEMS INC.	1,968,404	$2.618M	0.7%	$1.67	—	COM	960908309
—	CHUBU NIPPON BROADCAST CO LTSH	402,137	$2.557M	0.6%	$5.73	—	COM	J06594105
KRNY	KEARNY FINL CORP MD COM	196,327	$2.517M	0.6%	$13.91	-6.5%	COM	48716P108
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.487M	0.6%	$8.23	+26.2%	COM	J4687C105
CSWC	CAPITAL SOUTHWEST CORP COM	125,615	$2.414M	0.6%	$4.41	+85.8%	COM	140501107
BWEN	BROADWIND ENERGY INC COM NEW	1,812,742	$2.357M	0.6%	$3.65	-51.1%	COM	11161T207
DDS	DILLARDS INC CL A	37,950	$2.289M	0.6%	$48.10	+8.0%	COM	254067101
—	ENERPLUS CORPORATION	294,547	$2.286M	0.6%	$12.01	—	COM	292766102
—	WESTERN ASSET CLYM INFL OPP CO	208,759	$2.119M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.118M	0.5%	$39.25	—	COM	210226106
—	AEGON N V PERP CAP FLTG	110,607	$2.084M	0.5%	$20.15	—	PREFERRED STOCKS	007924509
—	RTW RETAILWINDS INC COM	718,714	$2.034M	0.5%	$2.83	—	COM	74980D100
KEWL	KEWEENAW LD ASSN LTD COM	29,068	$1.977M	0.5%	$12.70	-13.7%	COM	493026108
MRK	MERCK & COMPANY	25,725	$1.966M	0.5%	$31.34	+80.3%	COM	58933Y105
TKOMY	TOKIO MARINE HOLDINGS INC	40,325	$1.924M	0.5%	$31.66	—	COM	889094108
ALOT	ASTRO-MED INC NEW COM	98,394	$1.845M	0.5%	$9.12	+107.2%	COM	04638F108
WRB	BERKLEY W R CORP COM	24,322	$1.798M	0.5%	$14.61	+31.5%	COM	084423102
—	GRUPO ROTOPLAS SAB DE CV	1,582,871	$1.779M	0.5%	$1.16	—	COM	BTF8HD3MX
TWI	TITAN INTL INC ILL COM	376,917	$1.756M	0.4%	$6.59	-2.5%	COM	88830M102
FTEK	FUEL TECH INC COM	1,427,657	$1.699M	0.4%	$2.77	-54.4%	COM	359523107
—	SANDY SPRING BANCORP INC COM	54,023	$1.693M	0.4%	$38.76	—	COM	800363103
—	BROADWAY FINL CORP DEL COM	1,603,457	$1.684M	0.4%	$1.14	—	COM	111444105
—	ROYAL DUTCH SHELL PLC SPONS AD	25,452	$1.483M	0.4%	$63.98	—	COM	780259206
—	URSTADT BIDDLE PPTYS INC CL A	75,997	$1.46M	0.4%	$20.17	—	COM	917286205
—	CHS INC RED PFD SER3 C	60,000	$1.444M	0.4%	$24.07	—	PREFERRED STOCKS	12542R704
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.414M	0.4%	$246.69	-0.5%	WARRANT AND RIGH	H69293217
VWDRY	VESTAS WIND SYS AS UNSP ADR	53,700	$1.349M	0.3%	$5.61	—	COM	925458101
—	USA TRUCK INC COM	86,470	$1.294M	0.3%	$6.60	—	COM	902925106
—	WESTERN ASSET CLYM INFL SEC CO	121,849	$1.29M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
ELME	WASHINGTON REAL ESTATE INVT SH	53,310	$1.227M	0.3%	$25.69	—	COM	939653101
—	WESTROCK CO COM	31,155	$1.176M	0.3%	$51.44	—	COM	96145D105
—	PENGROWTH ENERGY CORPORATION	2,594,209	$1.16M	0.3%	$2.48	—	COM	70706P104
—	ARGO GROUP US INC SR NT 42	45,416	$1.133M	0.3%	$24.97	—	PREFERRED STOCKS	040130205
—	STATE AUTO FINL CORP	32,700	$1.113M	0.3%	$18.18	—	COM	855707105
CSW	CSW INDUSTRIALS INC COM	21,557	$1.042M	0.3%	$34.83	+37.6%	COM	126402106
—	SI FINANCIAL GROUP INC	78,009	$993K	0.3%	$11.05	—	COM	78425V104
—	LUBYS CAFETERIAS INC COM	810,251	$972K	0.2%	$4.59	—	COM	549282101
ECL	ECOLAB INC COM	6,400	$943K	0.2%	$90.95	+55.6%	COM	278865100
MSFT	MICROSOFT CORP COM	9,165	$931K	0.2%	$33.74	+196.4%	COM	594918104
EXCOF	EXCO TECHNOLOGIES LTD COM	136,800	$907K	0.2%	$5.03	-0.8%	COM	30150P109
—	CUI GLOBAL INC COM NEW	729,783	$898K	0.2%	$1.98	—	COM	126576206
RYN	RAYONIER INC COM	28,825	$798K	0.2%	$30.80	—	COM	754907103
GNLAF	GENESIS LAND DEV CORP COM	314,800	$730K	0.2%	$2.75	+3.8%	COM	37183V102
DVN	DEVON ENERGY CORP NEW COM	26,000	$586K	0.1%	$24.85	-11.6%	COM	25179M103
0NMK	VESTAS WIND SYS AS SHS	7,500	$567K	0.1%	$73.47	—	COM	K9773J128
PFE	PFIZER INC COM	11,998	$524K	0.1%	$16.46	+82.5%	COM	717081103
BMY	BRISTOL MYERS SQUIBB CO	9,848	$512K	0.1%	$28.67	+43.0%	COM	110122108
OCFC	OCEANFIRST FINL CORP COM	21,295	$479K	0.1%	$12.81	+46.0%	COM	675234108
—	ROYCE GLOBAL VALUE TR INC COM	47,912	$425K	0.1%	$7.23	—	COM	78081T104
—	KIMBALL INTL INC CL B	29,900	$424K	0.1%	$9.71	—	COM	494274103
—	RAYONIER ADVANCED MATLS INC PF	5,050	$416K	0.1%	$104.75	—	CONVERTIBLE PREF	75508B203
AAPL	APPLE COMPUTER INC COM	2,581	$407K	0.1%	$26.75	+72.0%	COM	037833100
—	BOULDER GROWTH & INCOME FD ICO	36,560	$381K	0.1%	$7.93	—	COM	101507101
—	BRUNSWICK BANCORP INC COM	44,352	$377K	0.1%	$4.93	—	COM	117030106
WMT	WAL MART STORES INC	3,550	$331K	0.1%	$20.00	+43.8%	COM	931142103
THG	HANOVER INS GROUP INC COM	2,775	$324K	0.1%	$34.95	+156.2%	COM	410867105
—	TRITON INTL LTD CL A	10,000	$311K	0.1%	$31.10	—	COM	G9078F107
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$306K	0.1%	$230816.08	+35.6%	COM	084670108
CSCO	CISCO SYS INC COM	6,940	$301K	0.1%	$20.16	+83.1%	COM	17275R102
—	VECTREN CORP COM	4,130	$297K	0.1%	$33.83	—	COM	92240G101
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$280K	0.1%	$12.47	+31.8%	COM	J86298106
ES	EVERSOURCE ENERGY COM	4,200	$273K	0.1%	$38.94	+30.0%	COM	30040W108
MOG/A	MOOG INC CL A	3,375	$261K	0.1%	$52.69	+39.9%	COM	615394202
—	NORTH ATLANTIC SMALLER INV. TR	7,000	$237K	0.1%	$34.31	—	COM	0643900GB
CI	CIGNA CORP NEW COM	1,112	$211K	0.1%	$190.77	0.0%	COM	125523100
—	BLACKROCK NY INS MUN INC TR CO	15,751	$190K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
KE	KIMBALL ELECTRONICS INC COM	11,598	$180K	0.0%	$10.71	+64.4%	COM	49428J109
—	OBSIDIAN ENERGY LTD	401,850	$162K	0.0%	$1.27	—	COM	674482104
—	ORYX INTERNATIONAL GROWTH FUND	15,964	$160K	0.0%	$4.48	—	COM	G6775Y108
—	MFS GOVT MKTS INCOME TR SH BEN	35,259	$158K	0.0%	$5.97	—	MUTUAL FUNDS	552939100
BNMLX	BLACKROCK MUN BD FD INC NATL M	10,178	$109K	0.0%	$10.92	—	MUTUAL FUNDS	09253C744
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$104K	0.0%	$8.21	-24.2%	COM	096005301
HRGN	BIOSTAGE INC COM NEW	15,000	$31,000	0.0%	$1.82	+51.3%	COM	09074M202
—	ORION ENERGY SYSTEMS INC COM	15,883	$9,000	0.0%	$2.48	—	COM	686275108
KIDBQ	KID BRANDS, INC. COM	155,947	$0	0.0%	$1.44	-100.0%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	486,300	$0	0.0%	$1.29	—	COM	367257201