Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BF/B	BROWN FORMAN CORP CL B	396,127	$25.22M	6.8%	$57.53	0.0%	COM	115637209
AIT	APPLIED INDL TECHNLGIES INC CO	195,370	$12.19M	3.3%	$36.66	+39.4%	COM	03820C105
EG	EVEREST RE GROUP	55,582	$11.46M	3.1%	$103.46	+67.9%	COM	G3223R108
UNM	UNUM GROUP	665,723	$11.04M	3.0%	$28.43	-44.5%	COM	91529Y106
INGR	INGREDION INC COM	125,940	$10.45M	2.8%	$81.77	+0.1%	COM	457187102
WST	WEST PHARMACEUTICAL SVCS INCCO	43,590	$9.902M	2.7%	$33.09	+485.8%	COM	955306105
WSO	WATSCO INC	48,075	$8.543M	2.3%	$84.42	+96.0%	COM	942622200
CALY	CALLAWAY GOLF CO COM	468,286	$8.2M	2.2%	$9.35	+48.5%	COM	131193104
GRC	GORMAN RUPP CO	262,004	$8.143M	2.2%	$24.93	+17.5%	COM	383082104
PEP	PEPSICO INC	60,343	$7.981M	2.2%	$56.07	+97.6%	COM	713448108
FSLR	FIRST SOLAR INC COM	152,566	$7.552M	2.0%	$42.73	+4.4%	COM	336433107
SCL	STEPAN CHEMICAL CO	74,548	$7.239M	2.0%	$51.68	+81.9%	COM	858586100
ALG	ALAMO GROUP INC COM	68,259	$7.006M	1.9%	$69.27	+34.4%	COM	011311107
MUR	MURPHY OIL CORP COM	483,607	$6.674M	1.8%	$22.24	-57.6%	COM	626717102
MFC	MANULIFE FINL CORP COM	455,300	$6.201M	1.7%	$14.68	-14.3%	COM	56501R106
HLMMF	HOLMEN AB-B	193,292	$6.171M	1.7%	$32.61	0.0%	COM	W4R00P201
BWEN	BROADWIND ENERGY INC COM NEW	1,636,824	$6.138M	1.7%	$3.63	-37.8%	COM	11161T207
UPS	UNITED PARCEL SVC INC CL B	54,990	$6.114M	1.7%	$55.38	+44.0%	COM	911312106
662	ASIA FINANCIAL HOLDINGS LTD SH	13,353,415	$5.996M	1.6%	$0.45	—	COM	G0532X107
WSM	WILLIAMS SONOMA INC COM	72,400	$5.938M	1.6%	$21.20	+44.1%	COM	969904101
BHF	BRIGHTHOUSE FINL INC COM	212,929	$5.924M	1.6%	$45.34	-39.2%	COM	10922N103
JNJ	JOHNSON & JOHNSON COM	40,800	$5.738M	1.6%	$60.87	+104.1%	COM	478160104
BA	BOEING CO	30,750	$5.636M	1.5%	$135.00	+13.9%	COM	097023105
BF/A	BROWN FORMAN CORP CL A	96,555	$5.559M	1.5%	$52.51	0.0%	COM	115637100
NUE	NUCOR CORP	132,981	$5.507M	1.5%	$32.41	+12.4%	COM	670346105
KIM	KIMCO RLTY CORP COM	418,252	$5.37M	1.5%	$11.02	-20.1%	COM	49446R109
AMWD	AMERICAN WOODMARK CORP COM	67,133	$5.079M	1.4%	$77.12	-25.8%	COM	030506109
LNT	ALLIANT CORP COM	103,708	$4.961M	1.3%	$31.10	+30.9%	COM	018802108
INN	SUMMIT HOTEL PPTYS INC COM	820,749	$4.867M	1.3%	$10.23	—	COM	866082100
TRMLF	TOURMALINE OIL CORP COM	557,061	$4.857M	1.3%	$12.36	-49.4%	COM	89156V106
—	AEGON N V NY REGISTRY SH	1,635,819	$4.809M	1.3%	$4.83	—	COM	007924103
—	LYDALL INC COM	348,001	$4.719M	1.3%	$14.13	—	COM	550819106
HP	HELMERICH & PAYNE INC	232,362	$4.533M	1.2%	$55.61	-64.9%	COM	423452101
—	PHOENIX COS INC NEW QUIBS 2032	333,265	$4.454M	1.2%	$21.86	—	PREFERRED STOCKS	71902E208
—	CTO REALTY GROWTH INC COM	112,184	$4.431M	1.2%	$39.50	—	COM	22948P103
—	USA TRUCK INC COM	564,963	$4.378M	1.2%	$6.90	—	COM	902925106
—	MAGAL SECURITY SYS LTD ORD	1,435,686	$4.307M	1.2%	$4.01	—	COM	M6786D104
—	ARGO GROUP INTL HLDGS LTD COM	122,515	$4.267M	1.2%	$45.53	—	COM	G0464B107
ORN	ORION MARINE GROUP INC COM	1,305,165	$4.098M	1.1%	$5.60	-55.1%	COM	68628V308
SIG	SIGNET JEWELERS LIMITED SHS	353,580	$3.631M	1.0%	$34.73	-73.0%	COM	G81276100
—	TEXTAINER GROUP HOLDINGS LTDSH	398,781	$3.262M	0.9%	$14.48	—	COM	G8766E109
—	HESKA CORP COM RESTRC NEW	34,284	$3.194M	0.9%	$6.01	—	COM	42805E306
GD	GENERAL DYNAMICS CORP COM	20,000	$2.989M	0.8%	$96.13	+29.3%	COM	369550108
—	CIMAREX ENERGY CO COM	103,061	$2.833M	0.8%	$53.63	—	COM	171798101
—	HMN FINL INC COM	190,759	$2.785M	0.8%	$7.86	—	COM	40424G108
KEWL	KEWEENAW LD ASSN LTD COM	43,227	$2.645M	0.7%	$11.58	-29.0%	COM	493026108
—	WESTPORT FUEL SYSTEMS INC.	2,084,543	$2.585M	0.7%	$1.62	—	COM	960908309
FEIM	FREQUENCY ELECTRS INC COM	266,323	$2.437M	0.7%	$7.83	-8.3%	COM	358010106
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.407M	0.7%	$8.23	+14.3%	COM	J4687C105
VWDRY	VESTAS WIND SYS AS UNSP ADR	68,700	$2.331M	0.6%	$10.21	—	COM	925458101
RYAM	RAYONIER ADVANCED MATLS INC CO	817,009	$2.296M	0.6%	$10.07	-81.0%	COM	75508B104
ELME	WASHINGTON REAL ESTATE INVT SH	99,560	$2.21M	0.6%	$23.92	—	COM	939653101
—	WESTERN ASSET CLYM INFL OPP CO	192,772	$2.113M	0.6%	$11.36	—	MUTUAL FUNDS	95766R104
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,395,192	$2.009M	0.5%	$4.08	-71.9%	COM	239360100
CSWC	CAPITAL SOUTHWEST CORP COM	147,315	$1.986M	0.5%	$5.20	+28.1%	COM	140501107
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$1.961M	0.5%	$246.69	+40.6%	WARRANT AND RIGH	H69293217
MRK	MERCK & COMPANY	25,159	$1.946M	0.5%	$31.34	+100.6%	COM	58933Y105
XOM	EXXON MOBIL CORPORATION	43,427	$1.942M	0.5%	$53.69	-35.2%	COM	30231G102
—	GRUPO ROTOPLAS SAB DE CV	3,023,256	$1.916M	0.5%	$0.94	—	COM	BTF8HD3MX
MSFT	MICROSOFT CORP COM	9,165	$1.865M	0.5%	$33.74	+412.9%	COM	594918104
—	CHUBU NIPPON BROADCAST CO LTSH	374,470	$1.848M	0.5%	$5.73	—	COM	J06594105
—	ENERPLUS CORPORATION	652,605	$1.847M	0.5%	$7.65	—	COM	292766102
BBT	BERKSHIRE HILLS BANCORP INC CO	167,532	$1.846M	0.5%	$17.00	-36.9%	COM	084680107
TKOMY	TOKIO MARINE HOLDINGS INC	37,670	$1.64M	0.4%	$31.66	—	COM	889094108
TWIN	TWIN DISC INC COM	280,917	$1.556M	0.4%	$13.12	-57.2%	COM	901476101
FTEK	FUEL TECH INC COM	1,800,889	$1.513M	0.4%	$2.42	-71.3%	COM	359523107
KRNY	KEARNY FINL CORP MD COM	175,490	$1.436M	0.4%	$13.91	-39.8%	COM	48716P108
TWI	TITAN INTL INC ILL COM	976,565	$1.426M	0.4%	$4.88	-72.5%	COM	88830M102
—	WESTERN ASSET CLYM INFL SEC CO	115,899	$1.365M	0.4%	$11.30	—	MUTUAL FUNDS	95766Q106
CSW	CSW INDUSTRIALS INC COM	18,723	$1.294M	0.4%	$34.83	+88.6%	COM	126402106
ECL	ECOLAB INC COM	6,400	$1.273M	0.3%	$90.95	+100.3%	COM	278865100
—	CHS INC RED PFD SER3 C	53,341	$1.271M	0.3%	$24.07	—	PREFERRED STOCKS	12542R704
WRB	BERKLEY W R CORP COM	21,816	$1.25M	0.3%	$16.49	+31.3%	COM	084423102
—	TRITON INTL LTD CL A	39,898	$1.206M	0.3%	$27.18	—	COM	G9078F107
—	KIMBALL INTL INC CL B	99,900	$1.155M	0.3%	$11.25	—	COM	494274103
SUZ	SUZANO PAPEL E CELULOSE S A SP	167,846	$1.135M	0.3%	$15.96	—	COM	86959K105
—	URSTADT BIDDLE PPTYS INC CL A	91,497	$1.087M	0.3%	$19.09	—	COM	917286205
EXCOF	EXCO TECHNOLOGIES LTD COM	206,000	$1.027M	0.3%	$4.88	-29.3%	COM	30150P109
—	LUBYS CAFETERIAS INC COM	704,316	$1.021M	0.3%	$4.59	—	COM	549282101
ALOT	ASTRONOVA INC NEW COM	126,489	$1.007M	0.3%	$10.36	-36.6%	COM	04638F108
AAPL	APPLE COMPUTER INC COM	2,761	$1.007M	0.3%	$29.87	+151.4%	COM	037833100
BGOUF	BANG & OLUFSEN HLG ORD B	481,259	$982K	0.3%	$5.42	-68.2%	COM	K07774126
—	BANK & OLUFSEN RIGHTS	960,318	$959K	0.3%	$1.00	—	COM	K07774175
—	SANDY SPRING BANCORP INC COM	37,068	$919K	0.2%	$38.76	—	COM	800363103
DDS	DILLARDS INC CL A	33,434	$862K	0.2%	$45.61	-52.5%	COM	254067101
—	WESTROCK CO COM	30,355	$858K	0.2%	$51.44	—	COM	96145D105
—	ROYAL DUTCH SHELL PLC SPONS AD	25,452	$832K	0.2%	$63.98	—	COM	780259206
0NMK	VESTAS WIND SYS AS SHS	7,500	$770K	0.2%	$73.47	—	COM	K9773J128
RYN	RAYONIER INC COM	28,825	$715K	0.2%	$30.80	—	COM	754907103
DVN	DEVON ENERGY CORP NEW COM	58,900	$668K	0.2%	$19.42	-56.8%	COM	25179M103
BMY	BRISTOL MYERS SQUIBB CO	9,848	$579K	0.2%	$28.67	+67.2%	COM	110122108
—	ROYCE GLOBAL VALUE TR INC COM	48,159	$557K	0.2%	$7.23	—	COM	78081T104
—	FAUQUIER BANKSHARES INC VA COM	35,754	$504K	0.1%	$13.76	—	COM	312059108
—	ORBITAL ENERGY GROUP INC COM	803,878	$498K	0.1%	$0.62	—	COM	68559A109
—	STATE AUTO FINL CORP	23,800	$425K	0.1%	$18.18	—	COM	855707105
WMT	WAL MART STORES INC	3,550	$425K	0.1%	$20.00	+90.3%	COM	931142103
—	AEGON NV SHS	135,877	$398K	0.1%	$4.93	—	COM	N00927298
PFE	PFIZER INC COM	11,998	$392K	0.1%	$16.46	+57.9%	COM	717081103
GHM	GRAHAM CORP COM	30,084	$383K	0.1%	$11.56	0.0%	COM	384556106
GNLAF	GENESIS LAND DEV CORP COM	461,000	$378K	0.1%	$2.54	-60.1%	COM	37183V102
—	ARGO GROUP US INC SR NT 42	14,473	$369K	0.1%	$24.97	—	PREFERRED STOCKS	040130205
—	TUESDAY MORNING CORP COM NEW	2,259,527	$362K	0.1%	$3.94	—	COM	899035505
OCFC	OCEANFIRST FINL CORP COM	20,404	$360K	0.1%	$12.81	-2.4%	COM	675234108
ES	EVERSOURCE ENERGY COM	4,200	$350K	0.1%	$38.94	+72.6%	COM	30040W108
—	BRUNSWICK BANCORP INC COM	44,352	$348K	0.1%	$4.93	—	COM	117030106
—	BOULDER GROWTH & INCOME FD ICO	36,560	$344K	0.1%	$7.93	—	COM	101507101
CSCO	CISCO SYS INC COM	6,940	$324K	0.1%	$20.16	+83.5%	COM	17275R102
—	URSTADT BIDDLE PPTYS INC COM	31,910	$321K	0.1%	$11.25	—	COM	917286106
THG	HANOVER INS GROUP INC COM	2,775	$281K	0.1%	$34.95	+145.4%	COM	410867105
—	RTW RETAILWINDS INC COM	1,369,969	$275K	0.1%	$2.02	—	COM	74980D100
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$254K	0.1%	$12.47	+20.3%	COM	J86298106
CIMEF	CIMC ENRIC HOLDINGS LTD SHS	550,000	$218K	0.1%	$0.12	-1.5%	COM	G2198S109
FFXDF	FAIRFAX INDIA HLDGS CORP COM S	25,000	$210K	0.1%	$11.87	-34.6%	COM	303897102
CI	CIGNA CORP NEW COM	1,112	$209K	0.1%	$173.56	0.0%	COM	125523100
—	BLACKROCK NY INS MUN INC TR CO	15,751	$208K	0.1%	$12.95	—	MUTUAL FUNDS	09249U105
—	SHORE CAPITAL GROUP	88,056	$165K	0.0%	$1.87	—	COM	BGCZJ74GB
KE	KIMBALL ELECTRONICS INC COM	11,598	$157K	0.0%	$10.71	+20.0%	COM	49428J109
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	$87,000	0.0%	$8.21	-44.9%	COM	096005301
—	MFS GOVT MKTS INCOME TR SH BEN	13,353	$61,000	0.0%	$5.97	—	MUTUAL FUNDS	552939100
OBE	OBSIDIAN ENERGY LTD COM	99,676	$42,000	0.0%	$1.80	-83.0%	COM	674482203
HRGN	BIOSTAGE INC COM NEW	15,000	$39,000	0.0%	$1.82	+65.3%	COM	09074M202
—	JZ CAPITAL PRTNRS LTD GUERNSSH	29,332	$32,000	0.0%	$5.74	—	COM	G5216J134
KIDBQ	KID BRANDS, INC. COM	23,000	$0	0.0%	$1.44	-99.7%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	58,900	$0	0.0%	$1.29	—	COM	367257201