Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WMB	Williams	293,249	$13.18B	4.3%	$19.12	+42.1%	COM	969457100
NGL	NGL Energy LP	470,180	$13.16B	4.3%	$33816.91	—	COM	62913M107
—	Magellan Midstream LP	123,005	$10.17B	3.3%	$54940.09	—	COM	559080106
—	Kinder Morgan Inc	227,609	$9.63B	3.2%	$39278.46	—	COM	49456b101
—	Alliance Holdings	145,490	$8.873B	2.9%	$63818.17	—	COM	01861g100
—	MarkWest Energy LP	116,227	$7.809B	2.6%	$67562.96	—	COM	570759100
—	EnLink Midstream LP	250,071	$7.255B	2.4%	$30468.15	—	COM	29336u107
—	SPDR DJIA	38,754	$6.894B	2.3%	$167190.03	—	COM	78467x109
OKE	ONEOK Inc	137,327	$6.838B	2.3%	$21.15	+31.3%	COM	682680103
—	Energy Transfer Equity	108,652	$6.234B	2.1%	$56473.64	—	COM	29273v100
—	Emerge Energy LP	95,027	$5.131B	1.7%	$79448.38	—	COM	29102H108
—	ONEOK LP	123,530	$4.895B	1.6%	$53319.20	—	COM	68268N103
—	Teekay LNG LP	109,719	$4.718B	1.6%	$43698.32	—	COM	y8564m105
GEL	Genesis Energy	109,977	$4.665B	1.5%	$51850.50	—	COM	371927104
—	RAIT Financial	3,320,000	$4.231B	1.4%	$1215.67	—	CONV BOND	749227aa2
—	Alaska Communications	4,420,000	$4.16B	1.4%	$941.25	—	CONV BOND	01167pae1
—	Visa	15,554	$4.078B	1.3%	$211197.00	—	COM	92826c839
—	DCP Midstream LP	88,960	$4.041B	1.3%	$53741.75	—	COM	23311p100
—	Rose Rock LP	84,453	$3.838B	1.3%	$35305.45	—	COM	777149105
—	Transmontaigne LP	115,684	$3.645B	1.2%	$42165.18	—	COM	89376v100
—	Atlas Pipeline LP	133,127	$3.629B	1.2%	$36773.49	—	COM	049392103
—	Aircastle LTD	151,780	$3.244B	1.1%	$16107.22	—	COM	g0129k104
—	Atlas Energy LP	100,300	$3.124B	1.0%	$33841.71	—	COM	04930a104
—	QEP Resources	148,725	$3.007B	1.0%	$29788.70	—	COM	74733v100
—	Goldman Sachs	15,475	$3B	1.0%	$163236.95	—	COM	38141g104
—	QEP Midstream LP	177,875	$2.987B	1.0%	$23300.04	—	COM	74735r115
—	Navios Maritime LP	278,017	$2.827B	0.9%	$14450.00	—	COM	y62267102
—	Bunge Ltd	24,962	$2.808B	0.9%	$101793.33	—	CONV PREF	g16962204
—	Auxilium Pharmaceuticals	1,825,000	$2.708B	0.9%	$980.11	—	CONV BOND	05334DAA5
—	3M Co	16,126	$2.65B	0.9%	$115999.23	—	COM	88579y101
IBM	IBM	15,929	$2.556B	0.8%	$117.75	-14.7%	COM	459200101
—	Omnicare	28,406	$2.547B	0.8%	$59985.09	—	CONV PREF	68214q200
—	Holly Energy LP	83,356	$2.493B	0.8%	$37397.45	—	COM	435763107
MMLP	Martin Midstream LP	92,352	$2.482B	0.8%	$44015.74	—	COM	573331105
—	KB HOME	2,505,000	$2.479B	0.8%	$1003.62	—	CONV BOND	48666KAS8
—	Broadsoft Inc	2,350,000	$2.446B	0.8%	$1016.39	—	CONV BOND	11133BAB8
—	Prospect Capital	2,324,000	$2.313B	0.8%	$1026.36	—	CONV BOND	74348TAK8
CVX	Chevron Corp	20,039	$2.248B	0.7%	$72.26	-2.4%	COM	166764100
—	Titan Machinery	2,877,000	$2.236B	0.7%	$855.95	—	CONV BOND	88830RAB7
—	QCR Holdings	123,408	$2.204B	0.7%	$15970.89	—	COM	74727a104
BA	Boeing	16,551	$2.151B	0.7%	$86.36	+28.1%	COM	097023105
—	Exxon Mobil	23,153	$2.14B	0.7%	$91457.08	—	COM	30231g102
—	Navistar	2,240,000	$2.112B	0.7%	$943.04	—	CONV BOND	63934eaq1
JNJ	Johnson & Johnson	19,071	$1.994B	0.7%	$67.86	+13.9%	COM	478160104
—	Genco Shipping	2,085,000	$1.968B	0.6%	$269.81	—	CONV BOND	36869maa3
—	Exterran Partners	88,724	$1.918B	0.6%	$30170.06	—	COM	30225n105
—	EnLink Midstream LLC	53,837	$1.914B	0.6%	$33940.06	—	COM	29336t100
—	Dendreon Corp	3,055,000	$1.9B	0.6%	$749.62	—	CONV BOND	24823qac1
—	Banc of California	160,249	$1.838B	0.6%	$12764.14	—	COM	05990k106
—	United Technologies	15,916	$1.83B	0.6%	$96061.49	—	COM	913017109
HD	Home Depot	16,708	$1.754B	0.6%	$57.74	+29.6%	COM	437076102
—	General Cable	2,490,000	$1.75B	0.6%	$1087.13	—	CONV BOND	369300al2
MCD	McDonald's	18,094	$1.695B	0.6%	$71.62	-1.5%	COM	580135101
—	Cenveo Corp	1,857,000	$1.69B	0.6%	$910.00	—	CONV BOND	15671BAG6
—	Travelers	15,724	$1.664B	0.5%	$82658.61	—	COM	89417e109
PG	Procter & Gamble	18,142	$1.653B	0.5%	$55.77	+15.8%	COM	742718109
MBWM	Mercantile Bank	77,042	$1.619B	0.5%	$13.00	+1.4%	COM	587376104
—	UnitedHealth Group	16,003	$1.618B	0.5%	$69896.05	—	COM	91324p102
—	Sandridge Energy	36,770	$1.566B	0.5%	$96710.56	—	CONV PREF	80007p604
DIS	Disney	16,357	$1.541B	0.5%	$60.89	+33.5%	COM	254687106
AAL	American Airlines	28,270	$1.516B	0.5%	$32.34	+26.1%	COM	02376R102
NKE	Nike	15,619	$1.502B	0.5%	$32.56	+25.2%	COM	654106103
WMT	Wal-Mart	17,438	$1.498B	0.5%	$20.02	+9.0%	COM	931142103
—	Genco Shipping	110,183	$1.487B	0.5%	$16441.09	—	COM	y2685T115
—	Jefferies Group	1,427,000	$1.476B	0.5%	$1077.32	—	CONV BOND	472319ag7
—	PetroQuest Energy	61,389	$1.473B	0.5%	$34134.51	—	CONV PREF	716748207
AXP	American Express	15,767	$1.467B	0.5%	$63.29	+20.7%	COM	025816109
CAT	Caterpillar Inc	15,871	$1.453B	0.5%	$65.07	+12.7%	COM	149123101
EPD	Enterprise Products LP	36,843	$1.331B	0.4%	$52331.47	—	COM	293792107
—	JPMorgan	20,610	$1.29B	0.4%	$53983.23	—	COM	46625h100
UIS	Unisys Corp	43,360	$1.278B	0.4%	$21.43	+17.4%	COM	909214306
—	Arcbest Corp	27,517	$1.276B	0.4%	$42232.42	—	COM	03937c105
KALU	Kaiser Aluminum	17,849	$1.275B	0.4%	$43.76	+16.8%	COM	483007704
—	OM Group	42,594	$1.269B	0.4%	$30526.47	—	COM	670872100
—	SB Financial	134,886	$1.268B	0.4%	$7815.42	—	COM	78408d105
—	Eagle Rock Energy LP	565,398	$1.244B	0.4%	$7813.67	—	COM	26985r104
—	Rent-A-Center	33,695	$1.224B	0.4%	$26710.11	—	COM	76009n100
—	Stillwater Mining	1,731,000	$1.212B	0.4%	$999.13	—	CONV BOND	86074qaf9
—	Coeur D'Alene Mines	1,296,000	$1.21B	0.4%	$993.16	—	CONV BOND	192108ar9
OLN	Olin	53,086	$1.209B	0.4%	$16.92	+3.4%	COM	680665205
SFST	Southern First	70,940	$1.207B	0.4%	$12.67	+21.6%	COM	842873101
—	Du Pont	16,126	$1.192B	0.4%	$56529.50	—	COM	263534109
DAKT	Daktronics	95,152	$1.19B	0.4%	$8.31	+24.6%	COM	234264109
ONB	Old National Bancorp	79,374	$1.181B	0.4%	$13.50	+3.8%	COM	680033107
—	Merck	20,484	$1.163B	0.4%	$49416.93	—	COM	58933y105
—	Superior Industries	53,959	$1.068B	0.4%	$17568.08	—	COM	868168105
PAA	Plains All American LP	20,623	$1.058B	0.3%	$55710.78	—	COM	726503105
—	Summit Financial	88,682	$1.049B	0.3%	$10740.40	—	COM	86606g101
RAIL	FreightCar America	39,433	$1.037B	0.3%	$21.11	+42.8%	COM	357023100
—	Verizon Communications	21,920	$1.025B	0.3%	$49973.32	—	COM	92343v104
—	Masonite	15,732	$967M	0.3%	$49838.69	—	COM	575385109
—	Spartan Motors	183,536	$965M	0.3%	$5743.96	—	COM	846819100
—	SUPERVALU	97,769	$948M	0.3%	$6231.04	—	COM	868536103
—	Rofin-Sinar	32,230	$927M	0.3%	$24799.30	—	COM	775043102
—	Eastern Virginia Bank	139,714	$904M	0.3%	$5438.46	—	COM	277196101
—	Premier Financial	57,668	$898M	0.3%	$13066.57	—	COM	74050m105
—	Iridium Comm	92,006	$897M	0.3%	$7753.99	—	COM	46269c102
HVT	Haverty Furniture	39,875	$878M	0.3%	$21.48	0.0%	COM	419596101
MSFT	Microsoft	18,601	$864M	0.3%	$27.64	+44.3%	COM	594918104
—	Cenveo Corp	895,000	$863M	0.3%	$1010.73	—	CONV BOND	15671BAJ0
—	Teekay Inc	16,885	$859M	0.3%	$50890.02	—	COM	y8564w103
—	General Electric	33,288	$841M	0.3%	$23406.60	—	COM	369604103
—	Targa Resources	17,500	$838M	0.3%	$50616.00	—	COM	87611x105
—	MDC Holdings	31,652	$838M	0.3%	$29846.28	—	COM	552676108
—	First Bancshares	55,686	$805M	0.3%	$14163.50	—	COM	318916103
—	Williams LP	17,500	$783M	0.3%	$51847.18	—	COM	96950f104
—	A T & T	23,167	$778M	0.3%	$35354.62	—	COM	00206r102
PFE	Pfizer	24,342	$758M	0.2%	$16.71	+7.5%	COM	717081103
KO	Coca-Cola	17,531	$740M	0.2%	$27.92	+7.6%	COM	191216100
—	Energy Transfer Partners (O)	11,089	$721M	0.2%	$51768.65	—	COM	29273R109
—	MutualFirst	32,076	$702M	0.2%	$14733.70	—	COM	62845b104
INTC	Intel Corporation	19,237	$698M	0.2%	$18.42	+44.6%	COM	458140100
PEBK	Peoples Bancorp	37,806	$680M	0.2%	$14.01	+14.5%	COM	710577107
IBCP	Independent Bank	52,051	$679M	0.2%	$4.96	+69.5%	COM	453838609
—	Codorus Bancorp	33,750	$664M	0.2%	$19145.62	—	COM	192025104
—	Centrus Energy	1,250,851	$650M	0.2%	$700.00	—	CONV BOND	15643uaa2
—	RAIT Financial	725,000	$645M	0.2%	$968.13	—	CONV BOND	749227AB0
—	NewBridge Bancorp	69,838	$608M	0.2%	$6330.10	—	COM	65080t102
—	BNC Bancorp	34,494	$594M	0.2%	$11499.93	—	COM	05566t101
—	AmeriServ Financial	189,248	$592M	0.2%	$2888.57	—	COM	03074a102
—	HMN Financial	46,760	$580M	0.2%	$7193.43	—	COM	40424g108
—	Baylake	45,602	$570M	0.2%	$11248.19	—	COM	072788102
—	HF Financial	40,136	$560M	0.2%	$13068.79	—	COM	404172108
—	SPDR S&P 600	5,169	$547M	0.2%	$107704.30	—	COM	78464a300
—	Access Midstream LP	10,035	$544M	0.2%	$47699.99	—	COM	00434l109
—	Cal Dive International	4,550,000	$535M	0.2%	$357.98	—	CONV BOND	12802TAB7
—	C & J Energy	40,247	$532M	0.2%	$20839.57	—	COM	12467b304
—	Peoples Financial	41,915	$522M	0.2%	$13186.26	—	COM	71103b102
—	Southeastern Bank	19,741	$515M	0.2%	$21782.29	—	COM	841584105
—	Hawaiian Holdings	150,000	$498M	0.2%	$1092.50	—	CONV BOND	419879ad3
—	Western Gas LP	6,600	$482M	0.2%	$73050.00	—	COM	958254104
—	Yadkin Financial	24,461	$481M	0.2%	$14040.11	—	COM	984305102
—	Cisco Systems	16,653	$463M	0.2%	$24363.22	—	COM	17275r102
—	Astoria Financial	33,415	$446M	0.1%	$11743.63	—	COM	046265104
FRME	First Merchants	19,320	$440M	0.1%	$11.62	+37.2%	COM	320817109
—	Xerium Technologies	27,700	$437M	0.1%	$11040.88	—	COM	98416j118
UBOH	United Bancshares	29,889	$432M	0.1%	$12621.02	—	COM	909458101
IYF	iShares DJ US Financial	4,774	$431M	0.1%	$81759.95	—	COM	464287788
—	Freddie Mac	147,300	$427M	0.1%	$3950.00	—	PREF STK	313400640
—	MainSource Financial	20,376	$426M	0.1%	$13878.91	—	COM	56062y102
FCCO	First Community	37,060	$419M	0.1%	$8.14	+1.2%	COM	319835104
ZION	Zions Bancorp	14,546	$415M	0.1%	$26.77	+5.4%	COM	989701107
—	United Community Banks	20,850	$395M	0.1%	$12651.68	—	COM	90984p303
TSBK	Timberland Bancorp	36,885	$391M	0.1%	$6.35	+18.0%	COM	887098101
—	SunTrust Banks	8,875	$372M	0.1%	$32475.90	—	COM	867914103
CFG	Citizens Financial	14,855	$369M	0.1%	$16.18	0.0%	COM	174610105
—	CenterState Banks	30,195	$360M	0.1%	$9088.85	—	COM	15201p109
—	Hawaiian Holdings	13,337	$347M	0.1%	$6275.29	—	COM	419879101
—	RAIT Financial	44,800	$344M	0.1%	$7716.37	—	COM	749227104
—	Pacific Premier Bancorp	19,720	$342M	0.1%	$12330.70	—	COM	69478x105
—	McDermott Int	115,903	$337M	0.1%	$8090.00	—	COM	580037109
BAC	Bank of America	18,604	$333M	0.1%	$10.03	+35.2%	COM	060505104
—	HopFed Bancorp	25,207	$321M	0.1%	$10965.46	—	COM	439734104
EEM	iShares MSCI Emerging Markets	7,615	$299M	0.1%	$43229.94	—	COM	464287234
MOFG	MidWest One	8,904	$257M	0.1%	$23.89	+10.9%	COM	598511103
—	Energy XXI	4,200	$238M	0.1%	$269126.30	—	CONV PREF	29274u309
FBNC	First Bancorp	12,670	$234M	0.1%	$11.04	+27.1%	COM	318910106
FCF	First Commonwealth	22,878	$211M	0.1%	$4.86	+28.2%	COM	319829107
—	Alliance Resource LP	4,750	$204M	0.1%	$58640.00	—	COM	01877r108
TIP	iShares TIPS	1,692	$190M	0.1%	$112114.95	—	COM	464287176
BBT	Berkshire Hills Bancorp	5,444	$145M	0.0%	$18.17	-0.6%	COM	084680107
—	Kinder Morgan	33,300	$142M	0.0%	$3452.42	—	COM	49456b119
—	Gulf Coast Ultra Deep	108,500	$138M	0.0%	$2180.00	—	COM	40222t104
—	Teekay Offshore LP	4,893	$131M	0.0%	$32508.02	—	COM	y8565j101
—	Cenveo	56,350	$118M	0.0%	$2937.94	—	COM	15670s105
FNB	FNB Corporation	8,444	$112M	0.0%	$7.90	+3.8%	COM	302520101
FITB	Fifth Third Bancorp	5,075	$103M	0.0%	$11.47	+18.2%	COM	316773100
—	1st Constitution Bancorp	9,204	$100M	0.0%	$9525.05	—	COM	31986n102
BMY	Bristol-Myers	1,579	$93.19M	0.0%	$38.91	0.0%	COM	110122108
—	Regency LP	3,523	$84.55M	0.0%	$32619.93	—	COM	75885y107
F	Ford	4,796	$74.34M	0.0%	$9.38	-13.0%	COM	345370860
—	MPLX LP	870	$63.94M	0.0%	$73489.66	—	COM	55336v100
—	Bank of America	80,000	$57.02M	0.0%	$712.80	—	COM	060505153
—	DCB Financial	7,827	$54.79M	0.0%	$5299.99	—	COM	233075100
—	Teekay Tankers	10,000	$50.6M	0.0%	$3730.00	—	COM	y8565n102
—	SandRidge Energy	26,000	$47.32M	0.0%	$2032.82	—	COM	80007p307
—	Energy XXI	13,400	$43.68M	0.0%	$20150.82	—	COM	g10082140
—	BB&T Corp	900	$35M	0.0%	$33750.00	—	COM	054937107
—	Bank of America	29	$33.76M	0.0%	$1109103.50	—	CONV PREF	060505682
—	Tesoro Logistics LP	500	$29.43M	0.0%	$58850.00	—	COM	88160T107
—	Susquehanna Banc	2,150	$28.88M	0.0%	$12849.97	—	COM	869099101
—	A E S	410	$20.86M	0.0%	$50496.97	—	CONV PREF	00808n202
IP	International Paper	365	$19.56M	0.0%	$30.67	0.0%	COM	460146103
—	Umpqua Holdings	1,100	$18.71M	0.0%	$15010.00	—	COM	904214103
—	Doral Financial	1,500	$15.3M	0.0%	$17000.00	—	PREF STK	25811p209
COFS	Choiceone Financial	576	$13.25M	0.0%	$9.50	+38.3%	COM	170386106
—	Capital Bank Fin	473	$12.68M	0.0%	$19019.03	—	COM	139794101
—	Southwest Bancorp	700	$12.15M	0.0%	$13200.00	—	COM	844767103
AGM	Federal Agricultural Mtge	400	$12.14M	0.0%	$20.93	+3.7%	COM	313148306
—	CVR Partners LP	1,000	$9.74M	0.0%	$22730.00	—	COM	126633106
—	Banner	200	$8.616M	0.0%	$33835.00	—	COM	06652v208
—	Citigroup	9,500	$8.265M	0.0%	$950.00	—	COM	172967226
—	Doral Financial	2,000	$7.9M	0.0%	$6500.00	—	COM	25811p886
—	Pacwest Bancorp	141	$6.41M	0.0%	$45460.99	—	COM	695263103
—	SunPower Corp	236	$6.096M	0.0%	$32259.33	—	COM	867652406
—	Doral Financial	1,000	$5.45M	0.0%	$9700.00	—	PREF STK	25811p407
—	JP Morgan	200	$4.16M	0.0%	$19330.00	—	COM	46634e114
—	Navios Maritime	1,000	$4.11M	0.0%	$10120.00	—	COM	y62196103
—	Alcoa	229	$3.616M	0.0%	$15790.39	—	COM	013817101
—	Meritage Homes	100	$3.599M	0.0%	$41880.00	—	COM	59001a102
—	Boardwalk Pipeline LP	200	$3.554M	0.0%	$18500.00	—	COM	096627104
TOL	Toll Brothers	100	$3.427M	0.0%	$34.26	-4.8%	COM	889478103
—	Alliance One Int	2,000	$3.16M	0.0%	$3360.00	—	COM	018772103
—	Cal Dive Int	40,000	$2.8M	0.0%	$70.00	—	COM	12802t101
—	First Niagara	180	$1.517M	0.0%	$9959.81	—	COM	33582v108
—	Park Sterling	164	$1.205M	0.0%	$7347.56	—	COM	70086y105
—	Genco Shipping $20.99 Stike	155	$265K	0.0%	$1709.68	—	COM	y2685t123
TISDZ	Treasure Island Royalty Trust	15,000	$188K	0.0%	$246.00	—	COM	894626209