Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUM GROUP	582,290	$19.7M	4.7%	$28.75	+21.1%	COM	91529Y106
AIT	APPLIED INDL TECHNLGIES INC CO	207,938	$12.37M	2.9%	$36.66	+44.3%	COM	03820C105
EG	EVEREST RE GROUP	57,219	$12.36M	2.9%	$99.45	+89.1%	COM	G3223R108
BA	BOEING CO	30,750	$11.73M	2.8%	$135.00	+177.9%	COM	097023105
HP	HELMERICH & PAYNE INC	201,137	$11.18M	2.7%	$59.27	-8.1%	COM	423452101
MUR	MURPHY OIL CORP COM	374,156	$10.96M	2.6%	$24.62	-10.5%	COM	626717102
—	ARGO GROUP INTL HLDGS LTD COM	143,223	$10.12M	2.4%	$45.53	—	COM	G0464B107
GRC	GORMAN RUPP CO	295,127	$10.02M	2.4%	$24.93	+35.3%	COM	383082104
SCL	STEPAN CHEMICAL CO	109,251	$9.562M	2.3%	$51.68	+67.9%	COM	858586100
MFC	MANULIFE FINL CORP COM	500,850	$8.469M	2.0%	$14.68	+10.7%	COM	56501R106
NUE	NUCOR CORP	141,867	$8.278M	2.0%	$32.41	+56.4%	COM	670346105
INN	SUMMIT HOTEL PPTYS INC COM	716,299	$8.173M	1.9%	$11.08	—	COM	866082100
FSLR	FIRST SOLAR INC COM	148,866	$7.866M	1.9%	$42.59	+18.2%	COM	336433107
ALG	ALAMO GROUP INC COM	77,628	$7.758M	1.8%	$69.27	+25.5%	COM	011311107
662	ASIA FINANCIAL HOLDINGS LTD SH	13,119,415	$7.588M	1.8%	$0.45	—	COM	G0532X107
INGR	INGREDION INC COM	78,890	$7.47M	1.8%	$79.41	+19.0%	COM	457187102
PEP	PEPSICO INC	60,718	$7.441M	1.8%	$56.07	+64.9%	COM	713448108
WSO	WATSCO INC	51,900	$7.433M	1.8%	$84.42	+70.0%	COM	942622200
—	MAGAL SECURITY SYS LTD ORD	1,407,941	$7.364M	1.7%	$4.02	—	COM	M6786D104
KIM	KIMCO RLTY CORP COM	397,652	$7.356M	1.7%	$11.16	+11.7%	COM	49446R109
SIG	SIGNET JEWELERS LIMITED SHS	254,530	$6.913M	1.6%	$48.03	-49.7%	COM	G81276100
—	EMC INS GROUP INC	213,824	$6.817M	1.6%	$26.57	—	COM	268664109
WSM	WILLIAMS SONOMA INC COM	118,700	$6.679M	1.6%	$20.31	+17.4%	COM	969904101
BHF	BRIGHTHOUSE FINL INC COM	179,929	$6.53M	1.5%	$47.62	-21.3%	COM	10922N103
CALY	CALLAWAY GOLF CO COM	398,684	$6.351M	1.5%	$6.64	+147.0%	COM	131193104
UPS	UNITED PARCEL SVC INC CL B	54,990	$6.145M	1.5%	$55.38	+46.2%	COM	911312106
AMWD	AMERICAN WOODMARK CORP COM	74,104	$6.123M	1.5%	$75.76	-1.3%	COM	030506109
—	AEGON N V NY REGISTRY SH	1,224,303	$5.864M	1.4%	$5.36	—	COM	007924103
—	LYDALL INC COM	248,329	$5.826M	1.4%	$17.96	—	COM	550819106
—	PHOENIX COS INC NEW QUIBS 2032	352,449	$5.718M	1.4%	$21.86	—	PREFERRED STOCKS	71902E208
JNJ	JOHNSON & JOHNSON COM	40,800	$5.703M	1.4%	$60.87	+81.3%	COM	478160104
TRMLF	TOURMALINE OIL CORP COM	335,500	$5.18M	1.2%	$15.97	-39.3%	COM	89156V106
WST	WEST PHARMACEUTICAL SVCS INCCO	46,590	$5.134M	1.2%	$33.09	+208.3%	COM	955306105
—	HESKA CORP COM RESTRC NEW	56,985	$4.851M	1.2%	$6.01	—	COM	42805E306
HLMMF	HOLMEN AB-B	215,026	$4.666M	1.1%	$32.61	0.0%	COM	W4R00P201
RYAM	RAYONIER ADVANCED MATLS INC CO	341,181	$4.627M	1.1%	$15.50	-12.6%	COM	75508B104
BGOUF	BANG & OLUFSEN HLG ORD B	448,346	$4.037M	1.0%	$5.73	+35.0%	COM	K07774126
LNT	ALLIANT CORP COM	84,034	$3.961M	0.9%	$27.74	+30.3%	COM	018802108
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,349,883	$3.955M	0.9%	$4.38	-30.1%	COM	239360100
—	TUESDAY MORNING CORP COM NEW	1,822,895	$3.865M	0.9%	$4.78	—	COM	899035505
—	HMN FINL INC COM	176,006	$3.789M	0.9%	$7.17	—	COM	40424G108
FEIM	FREQUENCY ELECTRS INC COM	311,076	$3.686M	0.9%	$7.83	+15.7%	COM	358010106
TWIN	TWIN DISC INC COM	214,576	$3.573M	0.8%	$13.70	+20.4%	COM	901476101
XOM	EXXON MOBIL CORPORATION	43,427	$3.509M	0.8%	$53.69	+3.2%	COM	30231G102
—	TEXTAINER GROUP HOLDINGS LTDSH	361,100	$3.485M	0.8%	$15.58	—	COM	G8766E109
GD	GENERAL DYNAMICS CORP COM	20,000	$3.386M	0.8%	$96.13	+49.5%	COM	369550108
ORN	ORION MARINE GROUP INC COM	1,147,983	$3.352M	0.8%	$6.83	-38.4%	COM	68628V308
—	CIMAREX ENERGY CO COM	47,418	$3.315M	0.8%	$62.42	—	COM	171798101
—	WESTPORT FUEL SYSTEMS INC.	2,079,204	$3.223M	0.8%	$1.66	—	COM	960908309
BWEN	BROADWIND ENERGY INC COM NEW	1,812,742	$3.045M	0.7%	$3.65	-57.4%	COM	11161T207
DDS	DILLARDS INC CL A	37,950	$2.733M	0.6%	$48.10	+8.2%	COM	254067101
SUZ	SUZANO PAPEL E CELULOSE S A SP	113,789	$2.696M	0.6%	$23.69	—	COM	86959K105
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.669M	0.6%	$8.23	+17.1%	COM	J4687C105
CSWC	CAPITAL SOUTHWEST CORP COM	121,615	$2.559M	0.6%	$4.41	+109.8%	COM	140501107
KRNY	KEARNY FINL CORP MD COM	196,327	$2.527M	0.6%	$13.91	-5.6%	COM	48716P108
FTEK	FUEL TECH INC COM	1,486,799	$2.483M	0.6%	$2.71	-51.5%	COM	359523107
—	ENERPLUS CORPORATION	294,547	$2.477M	0.6%	$12.01	—	COM	292766102
—	CHUBU NIPPON BROADCAST CO LTSH	396,770	$2.414M	0.6%	$5.73	—	COM	J06594105
—	AEGON N V PERP CAP FLTG	110,607	$2.403M	0.6%	$20.15	—	PREFERRED STOCKS	007924509
—	CONSOLIDATED TOMOKA LD CO COM	40,334	$2.382M	0.6%	$39.25	—	COM	210226106
KEWL	KEWEENAW LD ASSN LTD COM	29,068	$2.311M	0.5%	$12.70	-14.2%	COM	493026108
TWI	TITAN INTL INC ILL COM	381,917	$2.28M	0.5%	$6.58	-15.0%	COM	88830M102
—	BROADWAY FINL CORP DEL COM	1,603,457	$2.245M	0.5%	$1.14	—	COM	111444105
—	WESTERN ASSET CLYM INFL OPP CO	208,759	$2.24M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
MRK	MERCK & COMPANY	25,159	$2.093M	0.5%	$31.34	+92.4%	COM	58933Y105
WRB	BERKLEY W R CORP COM	36,483	$2.061M	0.5%	$16.49	+22.8%	COM	084423102
ALOT	ASTRONOVA INC NEW COM	98,394	$2.006M	0.5%	$9.12	+109.0%	COM	04638F108
—	INVESTORS REAL ESTATE TR SH BE	32,786	$1.964M	0.5%	$49.07	—	COM	461730509
TKOMY	TOKIO MARINE HOLDINGS INC	40,325	$1.953M	0.5%	$31.66	—	COM	889094108
—	RTW RETAILWINDS INC COM	759,330	$1.822M	0.4%	$2.81	—	COM	74980D100
—	SANDY SPRING BANCORP INC COM	54,023	$1.69M	0.4%	$38.76	—	COM	800363103
—	GRUPO ROTOPLAS SAB DE CV	1,601,631	$1.671M	0.4%	$1.16	—	COM	BTF8HD3MX
—	ROYAL DUTCH SHELL PLC SPONS AD	25,452	$1.593M	0.4%	$63.98	—	COM	780259206
ELME	WASHINGTON REAL ESTATE INVT SH	55,310	$1.57M	0.4%	$25.78	—	COM	939653101
—	URSTADT BIDDLE PPTYS INC CL A	75,997	$1.568M	0.4%	$20.17	—	COM	917286205
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.559M	0.4%	$246.69	+8.1%	WARRANT AND RIGH	H69293217
—	CHS INC RED PFD SER3 C	58,600	$1.514M	0.4%	$24.07	—	PREFERRED STOCKS	12542R704
VWDRY	VESTAS WIND SYS AS UNSP ADR	53,700	$1.508M	0.4%	$5.61	—	COM	925458101
—	WESTERN ASSET CLYM INFL SEC CO	121,849	$1.366M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
—	USA TRUCK INC COM	86,470	$1.249M	0.3%	$6.60	—	COM	902925106
CSW	CSW INDUSTRIALS INC COM	21,557	$1.235M	0.3%	$34.83	+49.6%	COM	126402106
—	WESTROCK CO COM	31,155	$1.195M	0.3%	$51.44	—	COM	96145D105
ECL	ECOLAB INC COM	6,400	$1.13M	0.3%	$90.95	+65.9%	COM	278865100
—	LUBYS CAFETERIAS INC COM	769,522	$1.108M	0.3%	$4.59	—	COM	549282101
—	PENGROWTH ENERGY CORPORATION	2,594,209	$1.082M	0.3%	$2.48	—	COM	70706P104
MSFT	MICROSOFT CORP COM	9,165	$1.081M	0.3%	$33.74	+203.2%	COM	594918104
—	STATE AUTO FINL CORP	32,700	$1.076M	0.3%	$18.18	—	COM	855707105
—	SI FINANCIAL GROUP INC	78,009	$1.007M	0.2%	$11.05	—	COM	78425V104
EXCOF	EXCO TECHNOLOGIES LTD COM	136,800	$969K	0.2%	$5.03	+2.5%	COM	30150P109
RYN	RAYONIER INC COM	28,825	$908K	0.2%	$30.80	—	COM	754907103
—	CUI GLOBAL INC COM NEW	729,783	$861K	0.2%	$1.98	—	COM	126576206
DVN	DEVON ENERGY CORP NEW COM	26,000	$821K	0.2%	$24.85	-19.4%	COM	25179M103
GNLAF	GENESIS LAND DEV CORP COM	368,400	$754K	0.2%	$2.68	-14.1%	COM	37183V102
—	NORTH ATLANTIC SMALLER INV. TR	17,000	$645K	0.2%	$36.45	—	COM	0643900GB
0NMK	VESTAS WIND SYS AS SHS	7,500	$632K	0.1%	$73.47	—	COM	K9773J128
OCFC	OCEANFIRST FINL CORP COM	21,295	$512K	0.1%	$12.81	+42.6%	COM	675234108
PFE	PFIZER INC COM	11,998	$510K	0.1%	$16.46	+77.7%	COM	717081103
—	RAYONIER ADVANCED MATLS INC PF	5,050	$498K	0.1%	$104.75	—	CONVERTIBLE PREF	75508B203
AAPL	APPLE COMPUTER INC COM	2,581	$490K	0.1%	$26.75	+51.1%	COM	037833100
—	ROYCE GLOBAL VALUE TR INC COM	47,912	$482K	0.1%	$7.23	—	COM	78081T104
BMY	BRISTOL MYERS SQUIBB CO	9,848	$470K	0.1%	$28.67	+33.6%	COM	110122108
—	KIMBALL INTL INC CL B	29,900	$423K	0.1%	$9.71	—	COM	494274103
—	BRUNSWICK BANCORP INC COM	44,352	$421K	0.1%	$4.93	—	COM	117030106
—	BOULDER GROWTH & INCOME FD ICO	36,560	$394K	0.1%	$7.93	—	COM	101507101
CSCO	CISCO SYS INC COM	6,940	$375K	0.1%	$20.16	+95.9%	COM	17275R102
—	ARGO GROUP US INC SR NT 42	14,473	$369K	0.1%	$24.97	—	PREFERRED STOCKS	040130205
WMT	WAL MART STORES INC	3,550	$346K	0.1%	$20.00	+46.2%	COM	931142103
THG	HANOVER INS GROUP INC COM	2,775	$317K	0.1%	$34.95	+174.8%	COM	410867105
—	TRITON INTL LTD CL A	10,000	$311K	0.1%	$31.10	—	COM	G9078F107
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$301K	0.1%	$230816.08	+31.2%	COM	084670108
ES	EVERSOURCE ENERGY COM	4,200	$298K	0.1%	$38.94	+38.6%	COM	30040W108
MOG/A	MOOG INC CL A	3,375	$293K	0.1%	$52.69	+54.4%	COM	615394202
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$291K	0.1%	$12.47	+27.6%	COM	J86298106
—	OBSIDIAN ENERGY LTD	1,007,434	$277K	0.1%	$0.67	—	COM	674482104
BRK/B	BERKSHIRE HATHAWAY INC DEL CL	1,250	$251K	0.1%	$201.85	0.0%	COM	084670702
ATO	ATMOS ENERGY CORP COM	2,100	$216K	0.1%	$82.49	0.0%	COM	049560105
NSGRX	NORTHERN FDS NRTN SMCAP COR	8,354	$214K	0.1%	$25.62	—	MUTUAL FUNDS	665162665
—	BLACKROCK NY INS MUN INC TR CO	15,751	$202K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
KE	KIMBALL ELECTRONICS INC COM	11,598	$180K	0.0%	$10.71	+50.2%	COM	49428J109
—	JZ CAPITAL PRTNRS LTD GUERNSSH	30,858	$177K	0.0%	$5.74	—	COM	G5216J134
BNMLX	BLACKROCK MUN BD FD INC NATL M	10,178	$111K	0.0%	$10.92	—	MUTUAL FUNDS	09253C744
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$105K	0.0%	$8.21	-27.7%	COM	096005301
—	MFS GOVT MKTS INCOME TR SH BEN	13,353	$60,000	0.0%	$5.97	—	MUTUAL FUNDS	552939100
HRGN	BIOSTAGE INC COM NEW	15,000	$35,000	0.0%	$1.82	+30.1%	COM	09074M202
KIDBQ	KID BRANDS, INC. COM	23,954	$0	0.0%	$1.44	-99.9%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	360,500	$0	0.0%	$1.29	—	COM	367257201