Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUM GROUP	585,690	$19.65M	4.5%	$28.75	+20.5%	COM	91529Y106
EG	EVEREST RE GROUP	56,619	$13.99M	3.2%	$99.45	+109.9%	COM	G3223R108
AIT	APPLIED INDL TECHNLGIES INC CO	207,938	$12.79M	2.9%	$36.66	+46.2%	COM	03820C105
BA	BOEING CO	30,750	$11.19M	2.6%	$135.00	+164.6%	COM	097023105
HP	HELMERICH & PAYNE INC	203,837	$10.32M	2.4%	$59.22	-7.0%	COM	423452101
INGR	INGREDION INC COM	124,665	$10.28M	2.3%	$81.82	+5.1%	COM	457187102
SCL	STEPAN CHEMICAL CO	109,251	$10.04M	2.3%	$51.68	+72.6%	COM	858586100
FSLR	FIRST SOLAR INC COM	148,866	$9.778M	2.2%	$42.59	+41.3%	COM	336433107
GRC	GORMAN RUPP CO	292,027	$9.587M	2.2%	$24.93	+30.3%	COM	383082104
MUR	MURPHY OIL CORP COM	380,156	$9.371M	2.1%	$24.56	-15.7%	COM	626717102
—	ARGO GROUP INTL HLDGS LTD COM	125,853	$9.319M	2.1%	$45.53	—	COM	G0464B107
MFC	MANULIFE FINL CORP COM	500,050	$9.091M	2.1%	$14.68	+21.2%	COM	56501R106
CALY	CALLAWAY GOLF CO COM	497,179	$8.532M	1.9%	$8.59	+91.8%	COM	131193104
WSO	WATSCO INC	51,800	$8.471M	1.9%	$84.42	+86.1%	COM	942622200
INN	SUMMIT HOTEL PPTYS INC COM	716,299	$8.216M	1.9%	$11.08	—	COM	866082100
PEP	PEPSICO INC	60,718	$7.962M	1.8%	$56.07	+86.8%	COM	713448108
NUE	NUCOR CORP	141,367	$7.789M	1.8%	$32.41	+47.6%	COM	670346105
WSM	WILLIAMS SONOMA INC COM	118,700	$7.716M	1.8%	$20.31	+23.0%	COM	969904101
ALG	ALAMO GROUP INC COM	76,628	$7.657M	1.7%	$69.27	+39.1%	COM	011311107
—	EMC INS GROUP INC	205,777	$7.414M	1.7%	$26.57	—	COM	268664109
662	ASIA FINANCIAL HOLDINGS LTD SH	13,119,415	$7.41M	1.7%	$0.45	—	COM	G0532X107
KIM	KIMCO RLTY CORP COM	397,652	$7.348M	1.7%	$11.16	+19.6%	COM	49446R109
—	MAGAL SECURITY SYS LTD ORD	1,382,102	$6.952M	1.6%	$4.02	—	COM	M6786D104
—	CONSOLIDATED TOMOKA LD CO COM	115,934	$6.921M	1.6%	$52.58	—	COM	210226106
BHF	BRIGHTHOUSE FINL INC COM	182,929	$6.712M	1.5%	$47.47	-18.6%	COM	10922N103
AMWD	AMERICAN WOODMARK CORP COM	74,104	$6.271M	1.4%	$75.76	+11.2%	COM	030506109
—	AEGON N V NY REGISTRY SH	1,260,796	$6.241M	1.4%	$5.35	—	COM	007924103
SIG	SIGNET JEWELERS LIMITED SHS	346,930	$6.204M	1.4%	$40.32	-52.7%	COM	G81276100
—	PHOENIX COS INC NEW QUIBS 2032	352,449	$5.833M	1.3%	$21.86	—	PREFERRED STOCKS	71902E208
WST	WEST PHARMACEUTICAL SVCS INCCO	45,590	$5.706M	1.3%	$33.09	+250.4%	COM	955306105
JNJ	JOHNSON & JOHNSON COM	40,800	$5.683M	1.3%	$60.87	+88.5%	COM	478160104
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.679M	1.3%	$55.38	+44.7%	COM	911312106
—	WESTPORT FUEL SYSTEMS INC.	2,056,182	$5.572M	1.3%	$1.66	—	COM	960908309
—	LYDALL INC COM	248,329	$5.016M	1.1%	$17.96	—	COM	550819106
—	HESKA CORP COM RESTRC NEW	55,985	$4.768M	1.1%	$6.01	—	COM	42805E306
HLMMF	HOLMEN AB-B	215,026	$4.581M	1.0%	$32.61	0.0%	COM	W4R00P201
TRMLF	TOURMALINE OIL CORP COM	347,900	$4.432M	1.0%	$15.73	-40.1%	COM	89156V106
RYAM	RAYONIER ADVANCED MATLS INC CO	653,455	$4.241M	1.0%	$13.07	-20.3%	COM	75508B104
ORN	ORION MARINE GROUP INC COM	1,553,777	$4.164M	1.0%	$5.70	-56.4%	COM	68628V308
LNT	ALLIANT CORP COM	84,034	$4.124M	0.9%	$27.74	+39.8%	COM	018802108
—	TUESDAY MORNING CORP COM NEW	2,361,350	$3.991M	0.9%	$4.08	—	COM	899035505
BWEN	BROADWIND ENERGY INC COM NEW	1,758,742	$3.904M	0.9%	$3.65	-47.8%	COM	11161T207
BGOUF	BANG & OLUFSEN HLG ORD B	543,263	$3.779M	0.9%	$5.45	-24.3%	COM	K07774126
—	HMN FINL INC COM	176,006	$3.696M	0.8%	$7.17	—	COM	40424G108
—	TEXTAINER GROUP HOLDINGS LTDSH	366,097	$3.691M	0.8%	$15.50	—	COM	G8766E109
—	CIMAREX ENERGY CO COM	61,718	$3.662M	0.8%	$61.70	—	COM	171798101
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,460,072	$3.65M	0.8%	$4.21	-49.6%	COM	239360100
GD	GENERAL DYNAMICS CORP COM	20,000	$3.636M	0.8%	$96.13	+53.7%	COM	369550108
FEIM	FREQUENCY ELECTRS INC COM	311,076	$3.543M	0.8%	$7.83	+19.9%	COM	358010106
XOM	EXXON MOBIL CORPORATION	43,427	$3.328M	0.8%	$53.69	+5.9%	COM	30231G102
TWIN	TWIN DISC INC COM	211,538	$3.194M	0.7%	$13.70	+10.0%	COM	901476101
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.779M	0.6%	$8.23	+23.0%	COM	J4687C105
TWI	TITAN INTL INC ILL COM	566,430	$2.77M	0.6%	$6.19	-12.8%	COM	88830M102
—	USA TRUCK INC COM	271,206	$2.742M	0.6%	$8.99	—	COM	902925106
—	ENERPLUS CORPORATION	347,318	$2.615M	0.6%	$11.33	—	COM	292766102
KRNY	KEARNY FINL CORP MD COM	196,327	$2.609M	0.6%	$13.91	-3.3%	COM	48716P108
CSWC	CAPITAL SOUTHWEST CORP COM	121,615	$2.548M	0.6%	$4.41	+118.7%	COM	140501107
—	AEGON N V PERP CAP FLTG	110,607	$2.459M	0.6%	$20.15	—	PREFERRED STOCKS	007924509
DDS	DILLARDS INC CL A	39,350	$2.451M	0.6%	$48.12	+1.3%	COM	254067101
WRB	BERKLEY W R CORP COM	36,481	$2.405M	0.5%	$16.49	+43.0%	COM	084423102
—	CHUBU NIPPON BROADCAST CO LTSH	396,770	$2.402M	0.5%	$5.73	—	COM	J06594105
—	WESTERN ASSET CLYM INFL OPP CO	208,759	$2.336M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
ALOT	ASTRONOVA INC NEW COM	89,403	$2.31M	0.5%	$9.12	+172.3%	COM	04638F108
—	BROADWAY FINL CORP DEL COM	1,603,457	$2.277M	0.5%	$1.14	—	COM	111444105
MRK	MERCK & COMPANY	25,159	$2.11M	0.5%	$31.34	+98.2%	COM	58933Y105
FTEK	FUEL TECH INC COM	1,486,799	$2.082M	0.5%	$2.71	-27.5%	COM	359523107
KEWL	KEWEENAW LD ASSN LTD COM	29,068	$2.064M	0.5%	$12.70	-17.1%	COM	493026108
SUZ	SUZANO PAPEL E CELULOSE S A SP	113,789	$1.938M	0.4%	$23.69	—	COM	86959K105
—	INVESTORS REAL ESTATE TR SH BE	32,646	$1.915M	0.4%	$49.07	—	COM	461730509
TKOMY	TOKIO MARINE HOLDINGS INC	37,670	$1.888M	0.4%	$31.66	—	COM	889094108
—	SANDY SPRING BANCORP INC COM	54,023	$1.884M	0.4%	$38.76	—	COM	800363103
—	ROYAL DUTCH SHELL PLC SPONS AD	25,452	$1.656M	0.4%	$63.98	—	COM	780259206
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.603M	0.4%	$246.69	+8.8%	WARRANT AND RIGH	H69293217
—	URSTADT BIDDLE PPTYS INC CL A	75,997	$1.596M	0.4%	$20.17	—	COM	917286205
VWDRY	VESTAS WIND SYS AS UNSP ADR	53,700	$1.547M	0.4%	$5.61	—	COM	925458101
—	RTW RETAILWINDS INC COM	899,283	$1.529M	0.3%	$2.63	—	COM	74980D100
—	CHS INC RED PFD SER3 C	58,600	$1.514M	0.3%	$24.07	—	PREFERRED STOCKS	12542R704
ELME	WASHINGTON REAL ESTATE INVT SH	55,310	$1.478M	0.3%	$25.78	—	COM	939653101
—	WESTERN ASSET CLYM INFL SEC CO	121,849	$1.42M	0.3%	$11.30	—	MUTUAL FUNDS	95766Q106
CSW	CSW INDUSTRIALS INC COM	20,300	$1.383M	0.3%	$34.83	+73.3%	COM	126402106
—	GRUPO ROTOPLAS SAB DE CV	1,744,825	$1.372M	0.3%	$1.13	—	COM	BTF8HD3MX
EXCOF	EXCO TECHNOLOGIES LTD COM	213,700	$1.265M	0.3%	$4.92	-4.0%	COM	30150P109
ECL	ECOLAB INC COM	6,400	$1.264M	0.3%	$90.95	+90.4%	COM	278865100
MSFT	MICROSOFT CORP COM	9,165	$1.228M	0.3%	$33.74	+254.2%	COM	594918104
BBT	BERKSHIRE HILLS BANCORP INC CO	37,435	$1.175M	0.3%	$24.24	0.0%	COM	084680107
—	STATE AUTO FINL CORP	32,700	$1.145M	0.3%	$18.18	—	COM	855707105
—	WESTROCK CO COM	31,155	$1.136M	0.3%	$51.44	—	COM	96145D105
—	PENGROWTH ENERGY CORPORATION	2,594,209	$956K	0.2%	$2.48	—	COM	70706P104
RYN	RAYONIER INC COM	28,825	$873K	0.2%	$30.80	—	COM	754907103
—	LUBYS CAFETERIAS INC COM	769,522	$831K	0.2%	$4.59	—	COM	549282101
—	CUI GLOBAL INC COM NEW	984,301	$809K	0.2%	$1.68	—	COM	126576206
GNLAF	GENESIS LAND DEV CORP COM	401,000	$766K	0.2%	$2.64	-17.6%	COM	37183V102
DVN	DEVON ENERGY CORP NEW COM	26,000	$742K	0.2%	$24.85	-14.0%	COM	25179M103
0NMK	VESTAS WIND SYS AS SHS	7,500	$644K	0.1%	$73.47	—	COM	K9773J128
—	NORTH ATLANTIC SMALLER INV. TR	17,000	$640K	0.1%	$36.45	—	COM	0643900GB
—	AEGON NV SHS	127,772	$635K	0.1%	$4.97	—	COM	N00927298
OCFC	OCEANFIRST FINL CORP COM	21,295	$529K	0.1%	$12.81	+45.3%	COM	675234108
—	KIMBALL INTL INC CL B	29,900	$521K	0.1%	$9.71	—	COM	494274103
PFE	PFIZER INC COM	11,998	$520K	0.1%	$16.46	+77.6%	COM	717081103
AAPL	APPLE COMPUTER INC COM	2,581	$511K	0.1%	$26.75	+74.3%	COM	037833100
—	ROYCE GLOBAL VALUE TR INC COM	47,912	$506K	0.1%	$7.23	—	COM	78081T104
BMY	BRISTOL MYERS SQUIBB CO	9,848	$447K	0.1%	$28.67	+26.0%	COM	110122108
—	BRUNSWICK BANCORP INC COM	44,352	$421K	0.1%	$4.93	—	COM	117030106
—	BOULDER GROWTH & INCOME FD ICO	36,560	$411K	0.1%	$7.93	—	COM	101507101
WMT	WAL MART STORES INC	3,550	$392K	0.1%	$20.00	+56.5%	COM	931142103
CSCO	CISCO SYS INC COM	6,940	$380K	0.1%	$20.16	+124.1%	COM	17275R102
—	ARGO GROUP US INC SR NT 42	14,473	$371K	0.1%	$24.97	—	PREFERRED STOCKS	040130205
THG	HANOVER INS GROUP INC COM	2,775	$356K	0.1%	$34.95	+192.5%	COM	410867105
—	TRITON INTL LTD CL A	10,000	$327K	0.1%	$31.10	—	COM	G9078F107
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	1	$318K	0.1%	$230816.08	+34.7%	COM	084670108
ES	EVERSOURCE ENERGY COM	4,200	$318K	0.1%	$38.94	+48.5%	COM	30040W108
MOG/A	MOOG INC CL A	3,375	$316K	0.1%	$52.69	+58.3%	COM	615394202
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$300K	0.1%	$12.47	+32.9%	COM	J86298106
—	RAYONIER ADVANCED MATLS INC PF	5,050	$260K	0.1%	$104.75	—	CONVERTIBLE PREF	75508B203
ATO	ATMOS ENERGY CORP COM	2,100	$222K	0.1%	$82.49	+5.6%	COM	049560105
NSGRX	NORTHERN FDS NRTN SMCAP COR	8,354	$220K	0.1%	$25.62	—	MUTUAL FUNDS	665162665
—	BLACKROCK NY INS MUN INC TR CO	15,751	$209K	0.0%	$12.95	—	MUTUAL FUNDS	09249U105
—	JZ CAPITAL PRTNRS LTD GUERNSSH	30,858	$190K	0.0%	$5.74	—	COM	G5216J134
KE	KIMBALL ELECTRONICS INC COM	11,598	$188K	0.0%	$10.71	+44.8%	COM	49428J109
OBE	OBSIDIAN ENERGY LTD COM	143,905	$171K	0.0%	$1.80	0.0%	COM	674482203
BNMLX	BLACKROCK MUN BD FD INC NATL M	10,178	$113K	0.0%	$10.92	—	MUTUAL FUNDS	09253C744
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$111K	0.0%	$8.21	-22.4%	COM	096005301
—	MFS GOVT MKTS INCOME TR SH BEN	13,353	$61,000	0.0%	$5.97	—	MUTUAL FUNDS	552939100
HRGN	BIOSTAGE INC COM NEW	15,000	$32,000	0.0%	$1.82	+33.5%	COM	09074M202
—	GASFRAC ENERGY SVCS INC COM	360,500	$0	0.0%	$1.29	—	COM	367257201
KIDBQ	KID BRANDS, INC. COM	23,954	$0	0.0%	$1.44	-99.8%	COM	49375T100