Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EG	EVEREST RE GROUP	52,582	$10.12M	3.6%	$99.45	+127.1%	COM	G3223R108
UNM	UNUM GROUP	666,273	$10M	3.5%	$28.43	-15.4%	COM	91529Y106
INGR	INGREDION INC COM	126,440	$9.547M	3.4%	$81.77	+5.1%	COM	457187102
AIT	APPLIED INDL TECHNLGIES INC CO	195,370	$8.932M	3.1%	$36.66	+50.3%	COM	03820C105
GRC	GORMAN RUPP CO	264,387	$8.251M	2.9%	$24.93	+35.9%	COM	383082104
WSO	WATSCO INC	48,200	$7.617M	2.7%	$84.42	+100.0%	COM	942622200
SCL	STEPAN CHEMICAL CO	83,095	$7.351M	2.6%	$51.68	+84.7%	COM	858586100
PEP	PEPSICO INC	60,718	$7.292M	2.6%	$56.07	+101.1%	COM	713448108
WST	WEST PHARMACEUTICAL SVCS INCCO	43,590	$6.637M	2.3%	$33.09	+358.4%	COM	955306105
ALG	ALAMO GROUP INC COM	69,759	$6.193M	2.2%	$69.27	+61.0%	COM	011311107
MFC	MANULIFE FINL CORP COM	454,300	$5.697M	2.0%	$14.68	+18.3%	COM	56501R106
WSM	WILLIAMS SONOMA INC COM	132,800	$5.647M	2.0%	$21.20	+33.4%	COM	969904101
CALY	CALLAWAY GOLF CO COM	540,846	$5.527M	1.9%	$9.35	+84.1%	COM	131193104
FSLR	FIRST SOLAR INC COM	153,266	$5.527M	1.9%	$42.73	+11.3%	COM	336433107
JNJ	JOHNSON & JOHNSON COM	40,800	$5.35M	1.9%	$60.87	+97.4%	COM	478160104
BHF	BRIGHTHOUSE FINL INC COM	218,779	$5.288M	1.9%	$45.34	-22.0%	COM	10922N103
HLMMF	HOLMEN AB-B	193,292	$5.287M	1.9%	$32.61	0.0%	COM	W4R00P201
—	CONSOLIDATED TOMOKA LD CO COM	114,234	$5.178M	1.8%	$52.58	—	COM	210226106
UPS	UNITED PARCEL SVC INC CL B	54,990	$5.137M	1.8%	$55.38	+47.9%	COM	911312106
LNT	ALLIANT CORP COM	103,708	$5.009M	1.8%	$31.10	+46.2%	COM	018802108
662	ASIA FINANCIAL HOLDINGS LTD SH	13,207,415	$5.009M	1.8%	$0.45	—	COM	G0532X107
NUE	NUCOR CORP	132,981	$4.79M	1.7%	$32.41	+22.0%	COM	670346105
BA	BOEING CO	30,750	$4.586M	1.6%	$135.00	+102.1%	COM	097023105
—	ARGO GROUP INTL HLDGS LTD COM	123,466	$4.576M	1.6%	$45.53	—	COM	G0464B107
—	MAGAL SECURITY SYS LTD ORD	1,435,686	$4.221M	1.5%	$4.01	—	COM	M6786D104
—	AEGON N V NY REGISTRY SH	1,647,019	$4.101M	1.4%	$4.83	—	COM	007924103
KIM	KIMCO RLTY CORP COM	385,802	$3.731M	1.3%	$11.21	+17.9%	COM	49446R109
—	PHOENIX COS INC NEW QUIBS 2032	334,589	$3.68M	1.3%	$21.86	—	PREFERRED STOCKS	71902E208
HP	HELMERICH & PAYNE INC	233,887	$3.661M	1.3%	$55.61	-36.7%	COM	423452101
ORN	ORION MARINE GROUP INC COM	1,332,465	$3.464M	1.2%	$5.60	-28.5%	COM	68628V308
INN	SUMMIT HOTEL PPTYS INC COM	820,749	$3.464M	1.2%	$10.23	—	COM	866082100
—	TEXTAINER GROUP HOLDINGS LTDSH	409,281	$3.364M	1.2%	$14.48	—	COM	G8766E109
TRMLF	TOURMALINE OIL CORP COM	528,229	$3.217M	1.1%	$12.69	-51.9%	COM	89156V106
—	HMN FINL INC COM	173,081	$3.115M	1.1%	$7.17	—	COM	40424G108
MUR	MURPHY OIL CORP COM	501,885	$3.077M	1.1%	$22.24	-33.1%	COM	626717102
AMWD	AMERICAN WOODMARK CORP COM	67,133	$3.059M	1.1%	$77.12	+19.8%	COM	030506109
FEIM	FREQUENCY ELECTRS INC COM	299,172	$2.734M	1.0%	$7.83	-9.1%	COM	358010106
GD	GENERAL DYNAMICS CORP COM	20,000	$2.646M	0.9%	$96.13	+50.8%	COM	369550108
BWEN	BROADWIND ENERGY INC COM NEW	1,760,863	$2.465M	0.9%	$3.63	-53.9%	COM	11161T207
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.46M	0.9%	$8.23	+34.6%	COM	J4687C105
SIG	SIGNET JEWELERS LIMITED SHS	370,580	$2.39M	0.8%	$34.73	-44.4%	COM	G81276100
KEWL	KEWEENAW LD ASSN LTD COM	41,227	$2.371M	0.8%	$11.74	-21.5%	COM	493026108
—	LYDALL INC COM	365,901	$2.364M	0.8%	$14.13	—	COM	550819106
—	HESKA CORP COM RESTRC NEW	41,184	$2.277M	0.8%	$6.01	—	COM	42805E306
—	BROADWAY FINL CORP DEL COM	1,599,673	$2.096M	0.7%	$1.14	—	COM	111444105
TWIN	TWIN DISC INC COM	280,917	$1.961M	0.7%	$13.12	-31.0%	COM	901476101
—	WESTPORT FUEL SYSTEMS INC.	2,084,543	$1.961M	0.7%	$1.62	—	COM	960908309
MRK	MERCK & COMPANY	25,159	$1.935M	0.7%	$31.34	+107.7%	COM	58933Y105
—	USA TRUCK INC COM	602,351	$1.909M	0.7%	$6.90	—	COM	902925106
—	WESTERN ASSET CLYM INFL OPP CO	195,072	$1.865M	0.7%	$11.36	—	MUTUAL FUNDS	95766R104
VWDRY	VESTAS WIND SYS AS UNSP ADR	68,700	$1.861M	0.7%	$10.21	—	COM	925458101
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.836M	0.6%	$246.69	+33.3%	WARRANT AND RIGH	H69293217
—	GRUPO ROTOPLAS SAB DE CV	2,562,472	$1.745M	0.6%	$0.99	—	COM	BTF8HD3MX
—	CHUBU NIPPON BROADCAST CO LTSH	374,470	$1.744M	0.6%	$5.73	—	COM	J06594105
—	CIMAREX ENERGY CO COM	103,061	$1.734M	0.6%	$53.63	—	COM	171798101
TKOMY	TOKIO MARINE HOLDINGS INC	37,670	$1.727M	0.6%	$31.66	—	COM	889094108
BGOUF	BANG & OLUFSEN HLG ORD B	502,136	$1.711M	0.6%	$5.42	-51.0%	COM	K07774126
CSWC	CAPITAL SOUTHWEST CORP COM	147,315	$1.682M	0.6%	$5.20	+71.7%	COM	140501107
XOM	EXXON MOBIL CORPORATION	43,427	$1.649M	0.6%	$53.69	-21.6%	COM	30231G102
SUZ	SUZANO PAPEL E CELULOSE S A SP	223,044	$1.532M	0.5%	$15.96	—	COM	86959K105
KRNY	KEARNY FINL CORP MD COM	178,404	$1.532M	0.5%	$13.91	-17.2%	COM	48716P108
TWI	TITAN INTL INC ILL COM	976,565	$1.514M	0.5%	$4.88	-47.6%	COM	88830M102
MSFT	MICROSOFT CORP COM	9,165	$1.445M	0.5%	$33.74	+363.4%	COM	594918104
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,395,192	$1.356M	0.5%	$4.08	-58.1%	COM	239360100
BBT	BERKSHIRE HILLS BANCORP INC CO	90,732	$1.348M	0.5%	$22.31	-6.1%	COM	084680107
—	TUESDAY MORNING CORP COM NEW	2,337,280	$1.346M	0.5%	$3.94	—	COM	899035505
—	URSTADT BIDDLE PPTYS INC CL A	92,397	$1.303M	0.5%	$19.09	—	COM	917286205
—	CHS INC RED PFD SER3 C	55,041	$1.226M	0.4%	$24.07	—	PREFERRED STOCKS	12542R704
—	WESTERN ASSET CLYM INFL SEC CO	115,899	$1.218M	0.4%	$11.30	—	MUTUAL FUNDS	95766Q106
ELME	WASHINGTON REAL ESTATE INVT SH	50,860	$1.214M	0.4%	$25.58	—	COM	939653101
CSW	CSW INDUSTRIALS INC COM	18,723	$1.214M	0.4%	$34.83	+101.9%	COM	126402106
—	KIMBALL INTL INC CL B	99,900	$1.19M	0.4%	$11.25	—	COM	494274103
WRB	BERKLEY W R CORP COM	21,816	$1.138M	0.4%	$16.49	+59.2%	COM	084423102
DDS	DILLARDS INC CL A	30,272	$1.119M	0.4%	$48.12	-7.4%	COM	254067101
—	TRITON INTL LTD CL A	39,898	$1.032M	0.4%	$27.18	—	COM	G9078F107
ECL	ECOLAB INC COM	6,400	$997K	0.4%	$90.95	+93.9%	COM	278865100
—	ENERPLUS CORPORATION	654,605	$969K	0.3%	$7.65	—	COM	292766102
ALOT	ASTRONOVA INC NEW COM	123,989	$962K	0.3%	$10.44	+9.6%	COM	04638F108
—	ROYAL DUTCH SHELL PLC SPONS AD	25,452	$888K	0.3%	$63.98	—	COM	780259206
—	SANDY SPRING BANCORP INC COM	38,931	$881K	0.3%	$38.76	—	COM	800363103
—	WESTROCK CO COM	31,155	$880K	0.3%	$51.44	—	COM	96145D105
RYAM	RAYONIER ADVANCED MATLS INC CO	817,009	$866K	0.3%	$10.07	-74.1%	COM	75508B104
EXCOF	EXCO TECHNOLOGIES LTD COM	206,000	$781K	0.3%	$4.88	-18.9%	COM	30150P109
FTEK	FUEL TECH INC COM	1,794,338	$719K	0.3%	$2.42	-68.2%	COM	359523107
—	CUI GLOBAL INC COM NEW	803,878	$716K	0.3%	$1.68	—	COM	126576206
AAPL	APPLE COMPUTER INC COM	2,776	$706K	0.2%	$29.87	+138.0%	COM	037833100
RYN	RAYONIER INC COM	28,825	$678K	0.2%	$30.80	—	COM	754907103
—	STATE AUTO FINL CORP	23,800	$661K	0.2%	$18.18	—	COM	855707105
0NMK	VESTAS WIND SYS AS SHS	7,500	$610K	0.2%	$73.47	—	COM	K9773J128
BMY	BRISTOL MYERS SQUIBB CO	9,848	$549K	0.2%	$28.67	+69.5%	COM	110122108
—	FAUQUIER BANKSHARES INC VA COM	35,754	$492K	0.2%	$13.76	—	COM	312059108
—	LUBYS CAFETERIAS INC COM	704,316	$472K	0.2%	$4.59	—	COM	549282101
DVN	DEVON ENERGY CORP NEW COM	58,900	$407K	0.1%	$19.42	-32.3%	COM	25179M103
WMT	WAL MART STORES INC	3,550	$403K	0.1%	$20.00	+76.8%	COM	931142103
PFE	PFIZER INC COM	11,998	$392K	0.1%	$16.46	+56.9%	COM	717081103
—	ROYCE GLOBAL VALUE TR INC COM	48,159	$387K	0.1%	$7.23	—	COM	78081T104
GNLAF	GENESIS LAND DEV CORP COM	461,000	$375K	0.1%	$2.54	-33.1%	COM	37183V102
—	BRUNSWICK BANCORP INC COM	44,352	$364K	0.1%	$4.93	—	COM	117030106
—	AEGON NV SHS	135,877	$361K	0.1%	$4.93	—	COM	N00927298
—	URSTADT BIDDLE PPTYS INC COM	31,910	$359K	0.1%	$11.25	—	COM	917286106
—	BOULDER GROWTH & INCOME FD ICO	36,560	$336K	0.1%	$7.93	—	COM	101507101
ES	EVERSOURCE ENERGY COM	4,200	$328K	0.1%	$38.94	+81.5%	COM	30040W108
—	ARGO GROUP US INC SR NT 42	14,473	$325K	0.1%	$24.97	—	PREFERRED STOCKS	040130205
OCFC	OCEANFIRST FINL CORP COM	20,404	$325K	0.1%	$12.81	+27.5%	COM	675234108
—	RTW RETAILWINDS INC COM	1,369,969	$288K	0.1%	$2.02	—	COM	74980D100
CSCO	CISCO SYS INC COM	6,940	$273K	0.1%	$20.16	+81.9%	COM	17275R102
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$271K	0.1%	$12.47	+39.9%	COM	J86298106
THG	HANOVER INS GROUP INC COM	2,775	$251K	0.1%	$34.95	+207.5%	COM	410867105
ATO	ATMOS ENERGY CORP COM	2,100	$208K	0.1%	$82.49	+15.1%	COM	049560105
HAIN	HAIN CELESTIAL GROUP INC COM	7,700	$200K	0.1%	$23.89	+4.4%	COM	405217100
—	BLACKROCK NY INS MUN INC TR CO	15,751	$197K	0.1%	$12.95	—	MUTUAL FUNDS	09249U105
—	SHORE CAPITAL GROUP	88,056	$165K	0.1%	$1.87	—	COM	BGCZJ74GB
FFXDF	FAIRFAX INDIA HLDGS CORP COM S	25,000	$164K	0.1%	$11.87	-5.0%	COM	303897102
KE	KIMBALL ELECTRONICS INC COM	11,598	$127K	0.0%	$10.71	+39.1%	COM	49428J109
BNMLX	BLACKROCK MUN BD FD INC NATL M	10,178	$110K	0.0%	$10.92	—	MUTUAL FUNDS	09253C744
CIMEF	CIMC ENRIC HOLDINGS LTD SHS	200,000	$82,000	0.0%	$0.12	0.0%	COM	G2198S109
BRRE	BLUE RIDGE REAL ESTATE CO COM	17,406	$79,000	0.0%	$8.21	-31.1%	COM	096005301
HRGN	BIOSTAGE INC COM NEW	15,000	$60,000	0.0%	$1.82	+57.4%	COM	09074M202
—	MFS GOVT MKTS INCOME TR SH BEN	13,353	$60,000	0.0%	$5.97	—	MUTUAL FUNDS	552939100
—	JZ CAPITAL PRTNRS LTD GUERNSSH	29,332	$43,000	0.0%	$5.74	—	COM	G5216J134
OBE	OBSIDIAN ENERGY LTD COM	105,847	$18,000	0.0%	$1.80	-68.3%	COM	674482203
KIDBQ	KID BRANDS, INC. COM	23,954	$0	0.0%	$1.44	-99.9%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	58,900	$0	0.0%	$1.29	—	COM	367257201