Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NGL	NGL Energy Partners	636,094	$23.87B	6.6%	$31365.57	—	COM	62913M107
WMB	Williams Companies	374,252	$15.19B	4.2%	$18.03	+16.1%	COM	969457100
—	Magellan Midstream	174,927	$12.2B	3.4%	$54608.12	—	COM	559080106
—	ONEOK Partners	217,325	$11.64B	3.2%	$53010.00	—	COM	68268N103
—	Rose Rock Midstream	226,964	$9.417B	2.6%	$35305.45	—	COM	777149105
OKE	ONEOK Inc.	157,571	$9.336B	2.6%	$21.15	+35.5%	COM	682680103
—	MarkWest Energy Partners	139,570	$9.117B	2.5%	$66727.89	—	COM	570759100
—	EnLink Midstream Partners	276,821	$8.421B	2.3%	$30420.00	—	COM	29336u107
—	Transmontaigne Partners	188,739	$8.131B	2.3%	$42129.95	—	COM	89376v100
—	Atlas Pipeline Partners	251,925	$8.089B	2.2%	$36773.49	—	COM	049392103
—	QEP Resources, Inc.	248,670	$7.321B	2.0%	$29440.00	—	COM	74733v100
—	DCP Midstream Partners	144,482	$7.239B	2.0%	$53741.75	—	COM	23311p100
—	Alliance Holdings, GP	116,096	$7.212B	2.0%	$63399.75	—	COM	01861g100
GEL	Genesis Energy LP	117,090	$6.346B	1.8%	$51829.99	—	COM	371927104
—	Eagle Rock Energy Partners	1,121,819	$5.901B	1.6%	$7870.00	—	COM	26985r104
—	Navios Maritime Partners	296,056	$5.77B	1.6%	$14450.00	—	COM	y62267102
—	Teekay LNG Partners	127,184	$5.257B	1.5%	$43700.00	—	COM	y8564m105
—	RAIT Financial	3,862,000	$5.228B	1.4%	$1215.67	—	CONV BOND	749227aa2
—	Energy Transfer Equity	109,454	$5.117B	1.4%	$47372.13	—	COM	29273v100
—	QEP Midstream Partners	198,070	$4.631B	1.3%	$23229.46	—	COM	74735r115
—	SPDR Dow Jones Industrial	27,192	$4.466B	1.2%	$165427.64	—	COM	78467x109
MMLP	Martin Midstream	103,717	$4.465B	1.2%	$44089.99	—	COM	573331105
—	Sandridge Energy	41,390	$4.449B	1.2%	$96710.56	—	CONV PREF	80007p604
—	Cenveo Corp	4,227,000	$4.195B	1.2%	$992.50	—	CONV BOND	15671BAG6
—	Kinder Morgan Inc.	128,927	$4.189B	1.2%	$35197.71	—	COM	49456b101
—	El Paso Pipeline Partners	132,700	$4.033B	1.1%	$42660.05	—	COM	283702108
—	Williams Partners	75,050	$3.823B	1.1%	$51847.18	—	COM	96950f104
—	Holly Energy Partners	97,191	$3.224B	0.9%	$38040.00	—	COM	435763107
—	Bunge Ltd.	30,395	$3.222B	0.9%	$101757.99	—	CONV PREF	g16962204
EPD	Enterprise Products	46,216	$3.206B	0.9%	$62951.57	—	COM	293792107
—	PetroQuest Energy	75,220	$2.943B	0.8%	$34134.51	—	CONV PREF	716748207
—	Genco Shipping	3,670,000	$2.936B	0.8%	$269.81	—	CONV BOND	36869maa3
—	Aircastle LTD	150,080	$2.909B	0.8%	$15990.00	—	COM	g0129k104
—	Alliant Techsystems	1,585,000	$2.904B	0.8%	$1151.95	—	CONV BOND	018804AK0
—	Auxilium Pharma	2,185,000	$2.886B	0.8%	$980.11	—	CONV BOND	05334DAA5
—	General Cable	2,825,000	$2.84B	0.8%	$1090.34	—	CONV BOND	369300al2
—	Hawaiian Holdings	200,180	$2.795B	0.8%	$6275.29	—	COM	419879101
—	Titan Machinery	3,262,000	$2.79B	0.8%	$855.25	—	CONV BOND	88830RAB7
—	Exterran Partners	96,058	$2.738B	0.8%	$30189.99	—	COM	30225n105
IBM	IBM	13,941	$2.684B	0.7%	$118.44	-7.8%	COM	459200101
—	Prospect Capital	2,489,000	$2.62B	0.7%	$1050.58	—	CONV BOND	74348TAK8
—	Dendreon Corp.	3,445,000	$2.523B	0.7%	$749.62	—	CONV BOND	24823qac1
—	KB HOME	2,395,000	$2.459B	0.7%	$1004.22	—	CONV BOND	48666KAS8
—	Hawaiian Holdings Co.	1,250,000	$2.299B	0.6%	$1092.50	—	CONV BOND	419879ad3
—	Omnicare	31,141	$2.286B	0.6%	$59985.09	—	CONV PREF	68214q200
—	EnLink Midstream LLC	64,326	$2.183B	0.6%	$33940.06	—	COM	29336t100
CVX	Chevron Corporation	18,279	$2.174B	0.6%	$71.22	-1.2%	COM	166764100
—	Goldman Sachs	13,231	$2.168B	0.6%	$158515.61	—	COM	38141g104
—	Exxon Mobil Corporation	21,851	$2.134B	0.6%	$91110.45	—	COM	30231g102
—	Stillwater Mining	2,126,000	$2.125B	0.6%	$999.13	—	CONV BOND	86074qaf9
—	Jefferies Group	1,872,000	$2.017B	0.6%	$1077.32	—	CONV BOND	472319ag7
—	QCR Holdings Inc.	112,126	$1.924B	0.5%	$15815.36	—	COM	74727a104
—	3M Co.	14,129	$1.917B	0.5%	$110635.35	—	COM	88579y101
BA	The Boeing Company	14,508	$1.821B	0.5%	$81.86	+36.4%	COM	097023105
PAA	Plains All American Pipeline	31,986	$1.763B	0.5%	$55710.78	—	COM	726503105
JNJ	Johnson & Johnson	17,681	$1.737B	0.5%	$66.63	0.0%	COM	478160104
—	Arkansas Best	45,701	$1.689B	0.5%	$22949.92	—	COM	040790107
—	United Technologies	13,970	$1.632B	0.5%	$94166.63	—	COM	913017109
MCD	McDonald's Corp.	16,430	$1.611B	0.4%	$71.68	-2.0%	COM	580135101
—	United Bancorp	126,118	$1.551B	0.4%	$6610.81	—	COM	90944l103
OLN	Olin Corp.	55,886	$1.543B	0.4%	$16.88	+12.1%	COM	680665205
—	USEC Inc.	3,789,000	$1.53B	0.4%	$213.58	—	CONV BOND	90333eac2
—	Banc of California	122,561	$1.504B	0.4%	$13371.42	—	COM	05990k106
—	Coeur D'Alene Mines	1,466,000	$1.477B	0.4%	$993.16	—	CONV BOND	192108ar9
—	Firstbank Corporation	78,899	$1.473B	0.4%	$16588.52	—	COM	33761g104
KALU	Kaiser Aluminum Corp	20,536	$1.467B	0.4%	$43.76	+11.7%	COM	483007704
—	Freddie Mac	147,300	$1.37B	0.4%	$3950.00	—	PREF STK	313400640
CAT	Caterpillar Inc.	13,745	$1.366B	0.4%	$61.96	+12.5%	COM	149123101
PG	Procter & Gamble	16,509	$1.331B	0.4%	$55.07	+2.6%	COM	742718109
UIS	Unisys Corp	43,530	$1.326B	0.4%	$21.23	+51.9%	COM	909214306
WMT	Wal-Mart Stores	16,068	$1.228B	0.3%	$19.98	-0.4%	COM	931142103
AXP	American Express	13,624	$1.227B	0.3%	$60.42	+25.0%	COM	025816109
—	C & J Energy Services	41,865	$1.221B	0.3%	$20531.05	—	COM	12467b304
—	OM Group Inc.	36,577	$1.215B	0.3%	$31416.67	—	COM	670872100
HD	Home Depot	15,123	$1.197B	0.3%	$56.24	+7.1%	COM	437076102
DAKT	Daktronics Inc.	82,868	$1.192B	0.3%	$8.08	+42.9%	COM	234264109
—	Travelers	13,910	$1.184B	0.3%	$80186.95	—	COM	89417e109
—	JPMorgan Chase & Co.	19,026	$1.155B	0.3%	$53061.41	—	COM	46625h100
—	SB Financial Group, Inc.	136,785	$1.142B	0.3%	$7774.90	—	COM	78408d105
DIS	Walt Disney Co.	14,210	$1.138B	0.3%	$56.99	+22.3%	COM	254687106
—	UnitedHealth Group	13,631	$1.118B	0.3%	$66348.41	—	COM	91324p102
—	Kinder Morgan Energy Partners	15,058	$1.114B	0.3%	$84972.30	—	COM	494550106
—	Access Midstream	19,335	$1.113B	0.3%	$47699.99	—	COM	00434l109
—	Energy XXI	4,112	$1.106B	0.3%	$269062.50	—	CONV PREF	29274u309
—	Merck & Co. Inc.	19,172	$1.088B	0.3%	$47890.96	—	COM	58933y105
—	Tesoro Logistics LP	18,000	$1.084B	0.3%	$57431.69	—	COM	88160T107
—	Superior Industries	52,294	$1.071B	0.3%	$17518.47	—	COM	868168105
—	Cenveo Corp.	1,000,000	$1.024B	0.3%	$1010.73	—	CONV BOND	15671BAJ0
—	Targa Resources	17,500	$985M	0.3%	$50616.00	—	COM	87611x105
—	Du Pont	14,324	$961M	0.3%	$53200.20	—	COM	263534109
—	Masonite Int	16,894	$955M	0.3%	$49660.05	—	COM	575385109
—	Verizon Communications	19,562	$931M	0.3%	$49969.96	—	COM	92343v104
—	Rent-A-Center	34,525	$918M	0.3%	$26600.00	—	COM	76009n100
—	Eastern Virginia Bankshares	140,690	$907M	0.3%	$5438.46	—	COM	277196101
—	Energy Transfer Partners	16,551	$890M	0.2%	$51768.65	—	COM	29273R109
—	Sonic Corp.	38,915	$887M	0.2%	$14666.45	—	COM	835451105
—	MDC Holdings, Inc.	31,340	$886M	0.2%	$29822.85	—	COM	552676108
—	General Electric	32,900	$852M	0.2%	$23235.60	—	COM	369604103
—	OmniVision Technologies	47,725	$845M	0.2%	$18573.33	—	COM	682128103
SFST	Southern First Bancshares	58,120	$806M	0.2%	$12.43	+8.4%	COM	842873101
—	Iridium Communications	105,637	$793M	0.2%	$7753.99	—	COM	46269c102
—	A T & T INC NEW	22,319	$783M	0.2%	$35368.49	—	COM	00206r102
—	SUPERVALU Inc.	114,024	$780M	0.2%	$6231.04	—	COM	868536103
AAL	American Airlines Group	21,189	$776M	0.2%	$30.86	+4.0%	COM	02376R102
—	Spartan Motors, Inc.	149,725	$770M	0.2%	$6080.26	—	COM	846819100
—	Oxford Resource Partners	572,874	$769M	0.2%	$2670.00	—	COM	691807101
—	AmeriServ Financial, Inc.	199,016	$766M	0.2%	$2888.57	—	COM	03074a102
MSFT	Microsoft	18,603	$763M	0.2%	$26.88	+16.3%	COM	594918104
PFE	Pfizer Inc.	23,533	$756M	0.2%	$16.62	+9.5%	COM	717081103
RAIL	FreightCar America Inc.	31,758	$738M	0.2%	$18.98	+27.7%	COM	357023100
IBCP	Independent Bank	54,855	$712M	0.2%	$4.96	+78.2%	COM	453838609
—	Premier Financial Bancorp	45,295	$650M	0.2%	$12308.66	—	COM	74050m105
—	Jefferson Bancshares	80,967	$632M	0.2%	$5996.55	—	COM	472375104
KO	Coca-Cola	16,292	$630M	0.2%	$27.80	-4.5%	COM	191216100
—	BNC Bancorp	35,719	$619M	0.2%	$11499.93	—	COM	05566t101
—	Teekay Offshore Partners	18,893	$618M	0.2%	$32470.00	—	COM	y8565j101
—	RAIT Financial	625,000	$614M	0.2%	$988.48	—	CONV BOND	749227AB0
—	First Bancshares, Inc.	42,311	$612M	0.2%	$14123.37	—	COM	318916103
—	MutualFirst Financial	32,180	$611M	0.2%	$14560.82	—	COM	62845b104
—	United Community Financial	151,213	$593M	0.2%	$4528.18	—	COM	909839102
—	Baylake Corp.	46,300	$587M	0.2%	$11162.81	—	COM	072788102
—	Codorus Bancorp Inc.	26,598	$558M	0.2%	$18559.96	—	COM	192025104
—	Intervest Bancshares	73,555	$548M	0.2%	$6777.80	—	COM	460927106
—	Rofin-Sinar Technologies	22,825	$547M	0.2%	$24918.08	—	COM	775043102
PEBK	Peoples Bancorp of NC	34,420	$537M	0.1%	$13.91	+0.5%	COM	710577107
—	Yadkin Financial	25,037	$536M	0.1%	$14040.11	—	COM	984305102
—	HF Financial Corp.	40,076	$535M	0.1%	$13049.94	—	COM	404172108
—	NewBridge Bancorp	72,449	$517M	0.1%	$6268.85	—	COM	65080t102
—	First Niagara Financial	54,355	$514M	0.1%	$10005.60	—	COM	33582v108
—	Western Gas Partners	7,600	$503M	0.1%	$66190.00	—	COM	958254104
—	Peoples Financial Corp.	37,549	$499M	0.1%	$13200.14	—	COM	71103b102
—	Kinder Morgan Management	6,959	$499M	0.1%	$83112.35	—	COM	49455u100
UBOH	United Bancshares	30,736	$487M	0.1%	$12621.02	—	COM	909458101
—	HMN Financial, Inc.	48,220	$475M	0.1%	$7193.43	—	COM	40424g108
ZION	Zions Bancorp	15,151	$469M	0.1%	$26.68	+13.9%	COM	989701107
INTC	Intel Corporation	17,728	$458M	0.1%	$17.25	+8.3%	COM	458140100
—	Astoria Financial	32,245	$446M	0.1%	$11625.86	—	COM	046265104
FRME	First Merchants	19,745	$427M	0.1%	$11.62	+32.4%	COM	320817109
—	Southeastern Bank Financial	19,254	$418M	0.1%	$21689.99	—	COM	841584105
TSBK	Timberland Bancorp	38,860	$416M	0.1%	$6.33	+18.5%	COM	887098101
—	Summit Financial Group	40,090	$411M	0.1%	$10233.15	—	COM	86606g101
—	United Community Banks	20,530	$398M	0.1%	$12530.33	—	COM	90984p303
IYF	iShares DJ US Financial	4,774	$390M	0.1%	$81759.95	—	COM	464287788
—	Xerium Technologies	24,198	$388M	0.1%	$10179.89	—	COM	98416j118
—	SunTrust Banks, Inc.	9,305	$370M	0.1%	$32475.90	—	COM	867914103
—	MainSource Financial	20,520	$351M	0.1%	$13721.19	—	COM	56062y102
—	Cisco Systems, Inc.	15,311	$343M	0.1%	$24226.23	—	COM	17275r102
BAC	Bank of America	19,804	$341M	0.1%	$10.03	+32.2%	COM	060505104
—	Gulf Coast Ultra Deep	108,500	$331M	0.1%	$2180.00	—	COM	40222t104
—	Pacific Premier Bancorp	19,700	$318M	0.1%	$12219.96	—	COM	69478x105
—	CenterState Banks, Inc.	28,960	$316M	0.1%	$8901.22	—	COM	15201p109
—	HopFed Bancorp	26,522	$310M	0.1%	$10965.46	—	COM	439734104
FBNC	First Bancorp	13,200	$251M	0.1%	$11.04	+28.7%	COM	318910106
MOFG	MidWest One Fin	8,944	$226M	0.1%	$23.87	+6.3%	COM	598511103
FCF	First Commonwealth Fin	23,563	$213M	0.1%	$4.86	+18.6%	COM	319829107
—	AMR Corp.	17,976	$205M	0.1%	$4110.00	—	COM	001765106
TIP	iShares Barclays TIPS	1,792	$201M	0.1%	$112114.95	—	COM	464287176
—	Alliance Resource Partners	2,375	$200M	0.1%	$70629.90	—	COM	01877r108
FCCO	First Community	17,002	$190M	0.1%	$8.11	0.0%	COM	319835104
—	Cenveo, Inc.	57,185	$174M	0.0%	$2937.94	—	COM	15670s105
—	Energy XXI (Bermuda)	6,500	$153M	0.0%	$26485.85	—	COM	g10082140
BBT	Berkshire Hills Bancorp Inc	5,719	$148M	0.0%	$18.20	-1.0%	COM	084680107
FITB	Fifth Third Bancorp	5,325	$122M	0.0%	$11.47	+27.4%	COM	316773100
—	RAIT Financial Trust	13,900	$118M	0.0%	$7804.78	—	COM	749227104
—	MPLX, L.P.	2,320	$114M	0.0%	$48990.09	—	COM	55336v100
FNB	F.N.B. Corporation	8,444	$113M	0.0%	$7.90	0.0%	COM	302520101
—	1st Constitution Bancorp.	8,844	$91.85M	0.0%	$9500.00	—	COM	31986n102
—	Sunpower	70,000	$83.92M	0.0%	$1057.50	—	CONV BOND	867652ac3
BMY	Bristol-Myers Squibb Co	1,427	$74.14M	0.0%	$34.78	+3.3%	COM	110122108
—	Hewlett-Packard	1,855	$60.03M	0.0%	$24799.96	—	COM	428236103
—	DCB Financial Corp.	7,827	$50.09M	0.0%	$5299.99	—	COM	233075100
—	BB&T Corporation	900	$36.15M	0.0%	$33750.00	—	COM	054937107
—	Bank of America	29	$33.18M	0.0%	$1109103.50	—	CONV PREF	060505682
—	A E S TRUST III	560	$28.62M	0.0%	$50496.97	—	CONV PREF	00808n202
—	Susquehanna Bancshares	2,150	$24.45M	0.0%	$12849.97	—	COM	869099101
—	Genco Shipping	13,055	$22.98M	0.0%	$1760.02	—	COM	y2685t107
—	Cooper Tire & Rubber	925	$22.47M	0.0%	$24288.65	—	COM	216831107
—	CVR Partners, LP	1,000	$21.19M	0.0%	$22730.00	—	COM	126633106
—	Umpqua Holdings	1,100	$20.5M	0.0%	$15010.00	—	COM	904214103
—	SandRidge Energy, Inc.	2,840	$17.44M	0.0%	$6140.14	—	COM	80007P307
—	SunPower Corporation	536	$17.29M	0.0%	$32259.33	—	COM	867652406
IP	International Paper	365	$16.75M	0.0%	$27.24	0.0%	COM	460146103
—	Doral Financial	1,500	$16.5M	0.0%	$17000.00	—	PREF STK	25811p209
—	Atlas Energy, LP	365	$15.71M	0.0%	$43041.10	—	COM	04930a104
—	Southwest Bancorp Inc.	800	$14.13M	0.0%	$13200.00	—	COM	844767103
AGM	Federal Agricultural Mortgage	400	$13.3M	0.0%	$20.93	+5.3%	COM	313148306
—	Capital Bank Financial	473	$11.88M	0.0%	$19019.03	—	COM	139794101
—	Primus Telecom	9,417	$11.06M	0.0%	$1349.90	—	COM	741929137
COFS	Choiceone Financial	576	$9.936M	0.0%	$9.50	+7.9%	COM	170386106
—	ONE Gas, Inc.	246	$8.839M	0.0%	$35930.89	—	COM	68235p108
—	Doral Financial Corporation	1,000	$8.68M	0.0%	$8680.00	—	COM	25811p886
—	Banner Corp.	200	$8.254M	0.0%	$33835.00	—	COM	06652v208
—	Trinity Industries	5,000	$7.912M	0.0%	$1167.10	—	CONV BOND	896522af6
—	Pacific Commerce Bank	1,800	$7.488M	0.0%	$4160.00	—	COM	694124108
—	Doral Financial	1,000	$6.01M	0.0%	$9700.00	—	PREF STK	25811p407
—	Kinder Morgan Inc.	3,325	$5.852M	0.0%	$1760.00	—	COM	49456b119
—	Alliance One Int	2,000	$5.84M	0.0%	$3360.00	—	COM	018772103
—	Kraft Foods Group	96	$5.386M	0.0%	$56104.17	—	COM	50076q106
—	Meritage Homes	100	$4.188M	0.0%	$41880.00	—	COM	59001a102
—	DR Horton Inc.	150	$3.248M	0.0%	$21653.33	—	COM	23331a109
—	Alcoa, Inc.	229	$2.947M	0.0%	$7820.00	—	COM	013817101
—	Harvest Natural Res	700	$2.632M	0.0%	$3760.00	—	COM	41754v103
—	Southcross Energy Partners	100	$1.695M	0.0%	$16950.00	—	COM	84130c100
—	Primus Telecom	9,417	$1.601M	0.0%	$99.93	—	COM	741929145
—	Park Sterling Corp.	164	$1.091M	0.0%	$6652.44	—	COM	70086y105
—	Xerium Technologies	5,751	$460K	0.0%	$590.55	—	COM	98416j126