Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BF/B	BROWN FORMAN CORP CL B	367,798	$27.56M	5.0%	$57.53	+20.5%	COM	115637209
UNM	UNUM GROUP	630,352	$17.9M	3.3%	$28.43	+3.4%	COM	91529Y106
—	LYDALL INC COM	291,420	$17.64M	3.2%	$14.13	—	COM	550819106
AIT	APPLIED INDL TECHNLGIES INC CO	176,890	$16.11M	2.9%	$36.66	+148.5%	COM	03820C105
SIG	SIGNET JEWELERS LIMITED SHS	194,720	$15.73M	2.9%	$34.73	+76.5%	COM	G81276100
WST	WEST PHARMACEUTICAL SVCS INCCO	43,590	$15.65M	2.9%	$33.09	+887.3%	COM	955306105
EG	EVEREST RE GROUP	55,182	$13.91M	2.5%	$103.46	+130.5%	COM	G3223R108
TRMLF	TOURMALINE OIL CORP COM	470,977	$13.45M	2.5%	$12.36	+33.8%	COM	89156V106
INGR	INGREDION INC COM	140,490	$12.71M	2.3%	$81.48	+14.6%	COM	457187102
WSO	WATSCO INC	43,125	$12.36M	2.3%	$84.42	+239.1%	COM	942622200
CALY	CALLAWAY GOLF CO COM	354,044	$11.94M	2.2%	$9.35	+243.8%	COM	131193104
NUE	NUCOR CORP	123,011	$11.8M	2.2%	$32.41	+168.4%	COM	670346105
FSLR	FIRST SOLAR INC COM	128,066	$11.59M	2.1%	$43.97	+80.0%	COM	336433107
UPS	UNITED PARCEL SVC INC CL B	54,990	$11.44M	2.1%	$55.38	+196.4%	COM	911312106
—	TUESDAY MORNING CORP COM NEW	2,259,013	$10.17M	1.9%	$3.06	—	COM	89904V101
BHF	BRIGHTHOUSE FINL INC COM	220,125	$10.02M	1.8%	$43.85	+7.1%	COM	10922N103
ALG	ALAMO GROUP INC COM	64,852	$9.902M	1.8%	$69.27	+118.2%	COM	011311107
—	WESTPORT FUEL SYSTEMS INC.	1,762,605	$9.359M	1.7%	$1.62	—	COM	960908309
—	TEXTAINER GROUP HOLDINGS LTDSH	275,091	$9.29M	1.7%	$14.48	—	COM	G8766E109
GRC	GORMAN RUPP CO	260,604	$8.975M	1.6%	$24.93	+39.6%	COM	383082104
MFC	MANULIFE FINL CORP COM	423,200	$8.337M	1.5%	$14.68	+42.6%	COM	56501R106
SCL	STEPAN CHEMICAL CO	68,897	$8.286M	1.5%	$51.68	+153.3%	COM	858586100
KIM	KIMCO RLTY CORP COM	382,052	$7.966M	1.5%	$11.02	+53.5%	COM	49446R109
HLMMF	HOLMEN AB-B	171,392	$7.735M	1.4%	$32.61	0.0%	COM	W4R00P201
—	AEGON N V NY REGISTRY SH	1,800,506	$7.436M	1.4%	$4.44	—	COM	007924103
BA	BOEING CO	30,750	$7.366M	1.3%	$135.00	+79.1%	COM	097023105
—	USA TRUCK INC COM	446,966	$7.183M	1.3%	$7.18	—	COM	902925106
INN	SUMMIT HOTEL PPTYS INC COM	749,799	$6.996M	1.3%	$10.13	—	COM	866082100
CTO	CTO REALTY GROWTH INC COM	130,626	$6.991M	1.3%	$52.01	—	COM	22948Q101
ORN	ORION MARINE GROUP INC COM	1,197,935	$6.888M	1.3%	$5.54	+5.1%	COM	68628V308
BF/A	BROWN FORMAN CORP CL A	96,555	$6.807M	1.2%	$52.51	+23.4%	COM	115637100
JNJ	JOHNSON & JOHNSON COM	40,800	$6.721M	1.2%	$60.87	+138.1%	COM	478160104
—	ARGO GROUP INTL HLDGS LTD COM	124,069	$6.43M	1.2%	$45.35	—	COM	G0464B107
662	ASIA FINANCIAL HOLDINGS LTD SH	13,182,415	$6.331M	1.2%	$0.45	—	COM	G0532X107
MUR	MURPHY OIL CORP COM	270,604	$6.3M	1.1%	$22.24	-21.6%	COM	626717102
BWEN	BROADWIND ENERGY INC COM NEW	1,361,539	$6.168M	1.1%	$3.70	+32.9%	COM	11161T207
—	CIMAREX ENERGY CO COM	84,418	$6.116M	1.1%	$49.69	—	COM	171798101
WSM	WILLIAMS SONOMA INC COM	35,615	$5.686M	1.0%	$21.20	+267.4%	COM	969904101
LNT	ALLIANT CORP COM	101,633	$5.667M	1.0%	$31.10	+57.0%	COM	018802108
—	PHOENIX COS INC NEW QUIBS 2032	322,965	$5.636M	1.0%	$21.86	—	PREFERRED STOCKS	71902E208
—	MAGAL SECURITY SYS LTD ORD	1,140,557	$5.395M	1.0%	$4.01	—	COM	M6786D104
—	GRUPO ROTOPLAS SAB DE CV	3,191,170	$5.318M	1.0%	$0.96	—	COM	BTF8HD3MX
HP	HELMERICH & PAYNE INC	157,953	$5.154M	0.9%	$55.02	-46.5%	COM	423452101
BGOUF	BANG & OLUFSEN HLG ORD B	922,986	$4.912M	0.9%	$3.15	+68.7%	COM	K07774126
AMWD	AMERICAN WOODMARK CORP COM	59,732	$4.88M	0.9%	$77.12	+21.3%	COM	030506109
BBT	BERKSHIRE HILLS BANCORP INC CO	165,432	$4.535M	0.8%	$15.30	+44.9%	COM	084680107
VWDRY	VESTAS WIND SYS AS UNSP ADR	343,500	$4.47M	0.8%	$12.45	—	COM	925458101
PEP	PEPSICO INC	29,942	$4.437M	0.8%	$56.07	+125.0%	COM	713448108
—	HMN FINL INC COM	193,755	$4.127M	0.8%	$8.00	—	COM	40424G108
—	URSTADT BIDDLE PPTYS INC CL A	199,127	$3.859M	0.7%	$13.72	—	COM	917286205
GD	GENERAL DYNAMICS CORP COM	20,000	$3.765M	0.7%	$96.13	+77.7%	COM	369550108
KEWL	KEWEENAW LD ASSN LTD COM	42,877	$3.505M	0.6%	$11.58	-1.4%	COM	493026108
DWSN	DAWSON GEOPHYSICAL CO NEW COM	1,320,779	$3.447M	0.6%	$4.01	-47.4%	COM	239360100
TWIN	TWIN DISC INC COM	229,818	$3.27M	0.6%	$13.00	-7.4%	COM	901476101
FTEK	FUEL TECH INC COM	1,340,627	$3.15M	0.6%	$2.37	-2.0%	COM	359523107
ELME	WASHINGTON REAL ESTATE INVT SH	136,153	$3.132M	0.6%	$23.28	—	COM	939653101
—	BROADWAY FINL CORP DEL COM	1,097,312	$2.952M	0.5%	$2.55	—	COM	111444105
CSWC	CAPITAL SOUTHWEST CORP COM	120,600	$2.802M	0.5%	$5.20	+177.7%	COM	140501107
MSADF	MS&AD INS GP HLDG (8725-JP)	87,660	$2.531M	0.5%	$8.23	+23.5%	COM	J4687C105
—	WESTERN ASSET CLYM INFL OPP CO	189,372	$2.483M	0.5%	$11.36	—	MUTUAL FUNDS	95766R104
MSFT	MICROSOFT CORP COM	9,150	$2.479M	0.5%	$33.74	+625.3%	COM	594918104
FEIM	FREQUENCY ELECTRS INC COM	222,683	$2.182M	0.4%	$7.83	+2.3%	COM	358010106
RHHVF	ROCHE HLDG LTD DIV RIGHTS CERT	5,700	$2.103M	0.4%	$246.69	+40.5%	WARRANT AND RIGH	H69293217
KRNY	KEARNY FINL CORP MD COM	175,490	$2.097M	0.4%	$13.91	-9.1%	COM	48716P108
—	ENERPLUS CORPORATION	285,899	$2.056M	0.4%	$7.65	—	COM	292766102
TWI	TITAN INTL INC ILL COM	241,322	$2.046M	0.4%	$4.88	+99.6%	COM	88830M102
—	TRITON INTL LTD CL A	38,698	$2.026M	0.4%	$27.18	—	COM	G9078F107
—	CHUBU NIPPON BROADCAST CO LTSH	374,470	$1.992M	0.4%	$5.73	—	COM	J06594105
MRK	MERCK & COMPANY	25,159	$1.956M	0.4%	$31.34	+104.6%	COM	58933Y105
—	STATE AUTO FINL CORP	110,146	$1.886M	0.3%	$16.91	—	COM	855707105
XOM	EXXON MOBIL CORPORATION	28,829	$1.819M	0.3%	$53.69	-6.8%	COM	30231G102
—	KIMBALL INTL INC CL B	138,100	$1.816M	0.3%	$11.43	—	COM	494274103
APOG	APOGEE ENTERPRISES INC COM	43,700	$1.779M	0.3%	$19.41	+75.2%	COM	037598109
ALOT	ASTRONOVA INC NEW COM	126,668	$1.763M	0.3%	$10.36	+47.8%	COM	04638F108
TKOMY	TOKIO MARINE HOLDINGS INC	37,670	$1.734M	0.3%	$31.66	—	COM	889094108
RYAM	RAYONIER ADVANCED MATLS INC CO	256,373	$1.715M	0.3%	$10.07	-19.1%	COM	75508B104
EXCOF	EXCO TECHNOLOGIES LTD COM	199,300	$1.674M	0.3%	$4.88	+40.7%	COM	30150P109
CSW	CSW INDUSTRIALS INC COM	13,853	$1.641M	0.3%	$34.83	+258.6%	COM	126402106
WRB	BERKLEY W R CORP COM	21,816	$1.624M	0.3%	$16.49	+86.8%	COM	084423102
AAPL	APPLE COMPUTER INC COM	11,719	$1.605M	0.3%	$89.14	+41.9%	COM	037833100
—	WESTROCK CO COM	29,575	$1.574M	0.3%	$51.44	—	COM	96145D105
DVN	DEVON ENERGY CORP NEW COM	53,785	$1.57M	0.3%	$18.02	+12.4%	COM	25179M103
0NMK	VESTAS WIND SYS AS SHS	37,500	$1.463M	0.3%	$45.90	—	COM	K9773J128
ECL	ECOLAB INC COM	6,400	$1.318M	0.2%	$90.95	+126.9%	COM	278865100
—	SANDY SPRING BANCORP INC COM	29,380	$1.297M	0.2%	$38.76	—	COM	800363103
GNLAF	GENESIS LAND DEV CORP COM	565,300	$1.268M	0.2%	$2.32	-5.3%	COM	37183V102
GOOGL	ALPHABET CLASS A	510	$1.245M	0.2%	$115.92	0.0%	COM	02079K305
VABK	VIRGINIA NATL BANKSHARES CORCO	29,279	$1.139M	0.2%	$33.89	0.0%	COM	928031103
SUZ	SUZANO PAPEL E CELULOSE S A SP	89,724	$1.08M	0.2%	$15.96	—	COM	86959K105
—	ROYAL DUTCH SHELL PLC SPONS AD	25,452	$1.028M	0.2%	$63.98	—	COM	780259206
—	CHS INC RED PFD SER3 C	34,641	$983K	0.2%	$24.07	—	PREFERRED STOCKS	12542R704
—	LUBYS CAFETERIAS INC COM	238,625	$916K	0.2%	$4.59	—	COM	549282101
—	BRUNSWICK BANCORP INC COM	70,152	$838K	0.2%	$6.91	—	COM	117030106
RYN	RAYONIER INC COM	18,900	$679K	0.1%	$30.80	—	COM	754907103
BMY	BRISTOL MYERS SQUIBB CO	9,848	$658K	0.1%	$28.67	+88.0%	COM	110122108
CIMEF	CIMC ENRIC HOLDINGS LTD SHS	626,000	$651K	0.1%	$0.12	+21.2%	COM	G2198S109
—	SOUTH JERSEY INDS INC COM	22,000	$570K	0.1%	$22.59	—	COM	838518108
—	WESTERN ASSET CLYM INFL SEC CO	38,589	$540K	0.1%	$11.30	—	MUTUAL FUNDS	95766Q106
—	URSTADT BIDDLE PPTYS INC COM	31,910	$512K	0.1%	$11.25	—	COM	917286106
WMT	WAL MART STORES INC	3,550	$501K	0.1%	$20.00	+119.0%	COM	931142103
—	BOULDER GROWTH & INCOME FD ICO	36,560	$495K	0.1%	$7.93	—	COM	101507101
PTEN	PATTERSON-UTI ENERGY INC COM	48,700	$484K	0.1%	$3.93	+115.2%	COM	703481101
PFE	PFIZER INC COM	11,998	$470K	0.1%	$16.46	+88.3%	COM	717081103
OCFC	OCEANFIRST FINL CORP COM	20,404	$425K	0.1%	$12.81	+41.9%	COM	675234108
GHM	GRAHAM CORP COM	30,084	$414K	0.1%	$11.56	+20.1%	COM	384556106
THG	HANOVER INS GROUP INC COM	2,775	$376K	0.1%	$34.95	+251.4%	COM	410867105
CSCO	CISCO SYS INC COM	6,940	$368K	0.1%	$20.16	+127.3%	COM	17275R102
BRRE	BLUE RIDGE REAL ESTATE CO COM	38,376	$338K	0.1%	$6.34	+35.6%	COM	096005301
ES	EVERSOURCE ENERGY COM	4,200	$337K	0.1%	$38.94	+80.5%	COM	30040W108
—	NORTH ATLANTIC SMALLER INV. TR	5,000	$319K	0.1%	$53.80	—	COM	0643900GB
—	ARGO GROUP US INC SR NT 42	12,223	$316K	0.1%	$24.97	—	PREFERRED STOCKS	040130205
—	AEGON NV SHS	71,995	$288K	0.1%	$4.93	—	COM	N00927298
MOG/A	MOOG INC CL A	3,375	$284K	0.1%	$54.69	+51.4%	COM	615394202
NSGRX	NORTHERN FDS NRTN SMCAP COR	8,354	$283K	0.1%	$28.61	—	MUTUAL FUNDS	665162665
TKOMF	TOKIO MARINE HOLDINGS INC SHS	6,000	$277K	0.1%	$12.47	+29.9%	COM	J86298106
GOOG	ALPHABET CLASS C	108	$271K	0.0%	$98.47	+20.1%	COM	02079K107
FFXDF	FAIRFAX INDIA HLDGS CORP COM S	20,000	$270K	0.0%	$11.87	+6.2%	COM	303897102
SWGNF	SWATCH GROUP AG NAMEN AKT	4,000	$264K	0.0%	$47.23	+32.7%	COM	H83949133
CI	CIGNA CORP NEW COM	1,112	$264K	0.0%	$179.43	+28.0%	COM	125523100
KE	KIMBALL ELECTRONICS INC COM	11,598	$252K	0.0%	$10.71	+110.2%	COM	49428J109
CIBEY	COMMERCIAL INTL BK EGYPT S ASP	75,334	$250K	0.0%	$3.68	—	COM	201712304
—	JZ CAPITAL PRTNRS LTD GUERNSSH	141,112	$239K	0.0%	$2.10	—	COM	G5216J134
XBNYX	BLACKROCK N Y MUN INCOME TRUSH	15,629	$236K	0.0%	$15.10	—	COM	09248L106
V	VISA INC COM CL A	960	$224K	0.0%	$197.22	+12.1%	COM	92826C839
DHR	DANAHER CORP SHS BEN INT	800	$215K	0.0%	$217.14	0.0%	COM	235851102
—	SHORE CAPITAL GROUP	88,056	$165K	0.0%	$1.87	—	COM	BGCZJ74GB
BNMLX	BLACKROCK MUN BD FD INC NATL M	10,178	$117K	0.0%	$10.92	—	MUTUAL FUNDS	09253C744
NWBO	NORTHWEST BIOTHERAPEUTICS INCO	25,305	$37,000	0.0%	$1.43	+6.2%	COM	66737P600
HRGN	BIOSTAGE INC COM NEW	25,000	$31,000	0.0%	$1.92	-36.5%	COM	09074M202
KIDBQ	KID BRANDS, INC. COM	23,000	$0	0.0%	$1.44	-99.5%	COM	49375T100
—	GASFRAC ENERGY SVCS INC COM	58,900	$0	0.0%	$1.29	—	COM	367257201