Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NGL	NGL Energy LP	394,012	$11.95B	4.4%	$33816.91	—	COM	62913M107
WMB	Williams Companies	207,681	$11.92B	4.3%	$19.12	+46.8%	COM	969457100
—	Magellan Midstream LP	117,142	$8.596B	3.1%	$54940.09	—	COM	559080106
—	SPDR Dow Jones Indl Avg	44,091	$7.752B	2.8%	$168503.33	—	COM	78467x109
—	Kinder Morgan	181,509	$6.968B	2.5%	$39260.44	—	COM	49456b101
—	MarkWest Energy	93,597	$5.277B	1.9%	$67562.96	—	COM	570759100
OKE	ONEOK	126,501	$4.994B	1.8%	$21.15	+8.2%	COM	682680103
—	EnLink Midstream LP	219,321	$4.818B	1.8%	$30468.15	—	COM	29336u107
—	Teekay Inc	105,225	$4.506B	1.6%	$46150.06	—	COM	y8564w103
GEL	Genesis Energy	102,537	$4.5B	1.6%	$51672.32	—	COM	371927104
—	Alliance Holdings GP	112,933	$4.421B	1.6%	$63818.17	—	COM	01861g100
—	Rice Midstream LP	254,158	$4.412B	1.6%	$16473.83	—	COM	762819100
—	Alaska Communications	4,390,000	$4.354B	1.6%	$941.25	—	CONV BOND	01167pae1
—	Shell Midstream LP	93,049	$4.248B	1.5%	$39467.40	—	COM	822634101
—	Plains GP Holdings	161,328	$4.169B	1.5%	$28195.61	—	COM	72651a108
—	VTTI Energy LP	159,445	$3.993B	1.5%	$25040.00	—	COM	y9384m101
—	RAIT Financial	3,325,000	$3.645B	1.3%	$1215.67	—	CONV BOND	749227aa2
—	Rose Rock Midstream	76,478	$3.575B	1.3%	$35305.45	—	COM	777149105
—	Teekay LNG LP	105,014	$3.381B	1.2%	$43562.55	—	COM	y8564m105
—	Emerge Energy Services	91,235	$3.294B	1.2%	$79448.38	—	COM	29102H108
—	Goldman Sachs	15,292	$3.193B	1.2%	$163236.95	—	COM	38141g104
—	Omnicare	27,377	$3.159B	1.2%	$59985.09	—	CONV PREF	68214q200
—	Navios Maritime LP	278,688	$2.982B	1.1%	$14369.67	—	COM	y62267102
—	QEP Midstream LP	162,533	$2.849B	1.0%	$23300.04	—	COM	74735r115
—	Targa Resources	73,596	$2.841B	1.0%	$43554.26	—	COM	87611x105
—	Holly Energy Partners	80,551	$2.831B	1.0%	$37351.07	—	COM	435763107
—	Bunge Ltd	25,574	$2.787B	1.0%	$101898.09	—	CONV PREF	g16962204
—	QCR Holdings	125,264	$2.726B	1.0%	$16036.23	—	COM	74727a104
—	AK Steel	2,595,000	$2.634B	1.0%	$1104.10	—	CONV BOND	001546ap5
IBM	IBM	15,310	$2.49B	0.9%	$117.75	-12.5%	COM	459200101
—	Broadsoft Inc	2,305,000	$2.442B	0.9%	$1016.39	—	CONV BOND	11133BAB8
—	KB HOME	2,460,000	$2.4B	0.9%	$1003.62	—	CONV BOND	48666KAS8
—	3M Co.	15,480	$2.389B	0.9%	$115999.23	—	COM	88579y101
—	Titan Machinery	2,881,000	$2.35B	0.9%	$855.95	—	CONV BOND	88830RAB7
—	Prospect Capital Corp	2,279,000	$2.291B	0.8%	$1026.36	—	CONV BOND	74348TAK8
—	Banc of California	162,521	$2.235B	0.8%	$12759.01	—	COM	05990k106
BA	Boeing	16,018	$2.222B	0.8%	$86.36	+49.2%	COM	097023105
AAPL	Apple	17,402	$2.183B	0.8%	$26.84	+6.3%	COM	037833100
—	Blucora Inc	2,190,000	$2.169B	0.8%	$944.67	—	CONV BOND	095229AB6
—	Navistar Intl	2,460,000	$2.098B	0.8%	$934.77	—	CONV BOND	63934eaq1
—	General Cable	2,455,000	$2.083B	0.8%	$1087.13	—	CONV BOND	369300al2
MMLP	Martin Midstream LP	66,467	$2.058B	0.8%	$43871.37	—	COM	573331105
—	PetroQuest Energy	77,357	$2.011B	0.7%	$32401.73	—	CONV PREF	716748207
—	Quidel Corp	1,945,000	$1.941B	0.7%	$997.75	—	CONV BOND	74838JAA9
—	UnitedHealth Group	15,554	$1.898B	0.7%	$69896.05	—	COM	91324p102
—	Exterran Partners	83,956	$1.889B	0.7%	$30051.29	—	COM	30225n105
—	Cenveo Corp	1,827,000	$1.864B	0.7%	$910.00	—	CONV BOND	15671BAG6
CVX	Chevron Corporation	18,995	$1.832B	0.7%	$72.26	-8.0%	COM	166764100
DIS	Walt Disney	15,710	$1.793B	0.7%	$60.89	+64.2%	COM	254687106
HD	Home Depot	16,054	$1.784B	0.7%	$57.74	+50.9%	COM	437076102
JNJ	Johnson & Johnson	18,148	$1.769B	0.6%	$67.86	+9.8%	COM	478160104
—	Exxon Mobil	20,420	$1.699B	0.6%	$91457.08	—	COM	30231g102
—	United Technologies	15,267	$1.694B	0.6%	$96061.49	—	COM	913017109
—	Aircastle LTD	74,676	$1.693B	0.6%	$16107.22	—	COM	g0129k104
MBWM	Mercantile Bank	76,973	$1.648B	0.6%	$13.00	+5.2%	COM	587376104
—	EnLink Midstream LLC	52,890	$1.644B	0.6%	$33940.06	—	COM	29336t100
NKE	Nike	15,132	$1.635B	0.6%	$32.56	+37.5%	COM	654106103
MCD	McDonalds	16,955	$1.612B	0.6%	$71.62	+3.6%	COM	580135101
—	Apollo Investment Corp	1,480,000	$1.507B	0.5%	$1019.62	—	CONV BOND	03761UAE6
—	Targa Resources Corp	16,871	$1.505B	0.5%	$95788.95	—	COM	87612g101
—	Travelers	15,279	$1.477B	0.5%	$82658.61	—	COM	89417e109
—	Jefferies Group	1,422,000	$1.454B	0.5%	$1077.32	—	CONV BOND	472319ag7
—	SB Financial	136,093	$1.441B	0.5%	$7860.29	—	COM	78408d105
KALU	Kaiser Aluminum	16,976	$1.41B	0.5%	$43.76	+32.9%	COM	483007704
—	OM Group	40,854	$1.373B	0.5%	$30526.47	—	COM	670872100
OLN	Olin Corp	50,615	$1.364B	0.5%	$16.92	+28.0%	COM	680665205
PG	Procter & Gamble	17,148	$1.342B	0.5%	$55.77	+7.5%	COM	742718109
—	Alaska Communications	556,995	$1.337B	0.5%	$2389.92	—	COM	01167p101
—	JPMorgan Chase	19,483	$1.32B	0.5%	$53983.23	—	COM	46625h100
CAT	Caterpillar	15,152	$1.285B	0.5%	$65.07	+1.2%	COM	149123101
—	Genco Shipping	174,304	$1.255B	0.5%	$7200.00	—	COM	y2685t115
SFST	Southern First	70,105	$1.255B	0.5%	$12.67	+39.2%	COM	842873101
—	Stillwater Mining	1,726,000	$1.208B	0.4%	$999.13	—	CONV BOND	86074qaf9
WMT	Wal-Mart	16,739	$1.187B	0.4%	$20.02	+4.3%	COM	931142103
AXP	American Express	15,109	$1.174B	0.4%	$63.29	+7.5%	COM	025816109
DAKT	Daktronics	98,370	$1.167B	0.4%	$8.36	+10.9%	COM	234264109
ONB	Old National Bancorp	79,066	$1.143B	0.4%	$13.50	+4.3%	COM	680033107
AAL	American Airlines Group	28,270	$1.129B	0.4%	$32.34	+34.0%	COM	02376R102
EPD	Enterprise Products	37,688	$1.126B	0.4%	$51896.47	—	COM	293792107
—	Summit Financial	98,018	$1.099B	0.4%	$10781.68	—	COM	86606g101
—	Merck	19,061	$1.085B	0.4%	$49416.93	—	COM	58933y105
—	Masonite Int	15,327	$1.075B	0.4%	$49838.69	—	COM	575385109
—	Du Pont	16,319	$1.044B	0.4%	$56969.22	—	COM	263534109
—	Visa	15,102	$1.014B	0.4%	$211197.00	—	COM	92826c839
—	Superior Ind	54,164	$992M	0.4%	$17578.90	—	COM	868168105
—	Rent-A-Center	34,160	$968M	0.4%	$26761.00	—	COM	76009n100
—	MDC Holdings	31,622	$948M	0.3%	$29846.28	—	COM	552676108
—	Arcbest	29,637	$942M	0.3%	$41352.40	—	COM	03937c105
—	Verizon	20,070	$935M	0.3%	$49973.32	—	COM	92343v104
—	Rofin-Sinar Tech	33,705	$930M	0.3%	$24774.95	—	COM	775043102
HVT	Haverty Furniture	42,875	$927M	0.3%	$21.61	+1.3%	COM	419596101
—	First Bancshares	55,431	$922M	0.3%	$14163.50	—	COM	318916103
RAIL	FreightCar America	42,824	$894M	0.3%	$21.48	+18.4%	COM	357023100
—	Eastern Virginia Bankshares	141,625	$894M	0.3%	$5449.53	—	COM	277196101
—	Premier Financial	57,715	$892M	0.3%	$13066.57	—	COM	74050m105
—	General Electric	33,550	$891M	0.3%	$23429.61	—	COM	369604103
—	Spartan Motors	192,869	$883M	0.3%	$5702.89	—	COM	846819100
UIS	Unisys Corp	44,150	$883M	0.3%	$21.46	+0.2%	COM	909214306
—	Cenveo Corp	895,000	$840M	0.3%	$1010.73	—	CONV BOND	15671BAJ0
—	Iridium Communications	90,315	$821M	0.3%	$7753.99	—	COM	46269c102
PAA	Plains All American LP	18,823	$820M	0.3%	$55710.78	—	COM	726503105
—	Sandridge Energy	36,900	$793M	0.3%	$95508.01	—	CONV PREF	80007p604
MSFT	Microsoft	17,897	$790M	0.3%	$27.64	+42.2%	COM	594918104
—	McDermott Int	142,038	$758M	0.3%	$7346.28	—	COM	580037109
PFE	Pfizer	22,500	$754M	0.3%	$16.71	+24.3%	COM	717081103
—	MutualFirst	32,077	$745M	0.3%	$14733.70	—	COM	62845b104
FCCO	First Community	61,245	$733M	0.3%	$8.61	+8.6%	COM	319835104
—	Comm Sales & Leasing	29,500	$729M	0.3%	$24720.00	—	COM	20341j104
—	Codorus Bancorp	35,544	$719M	0.3%	$19203.87	—	COM	192025104
PEBK	Peoples Bancorp of NC	38,641	$709M	0.3%	$14.06	+18.8%	COM	710577107
IBCP	Independent Bank	52,053	$706M	0.3%	$4.96	+87.2%	COM	453838609
—	RAIT Financial	815,000	$683M	0.2%	$951.63	—	CONV BOND	749227AB0
KO	Coca-Cola	16,723	$656M	0.2%	$27.92	+4.0%	COM	191216100
—	Energy Transfer Partners	12,186	$636M	0.2%	$51820.04	—	COM	29273R109
—	AmeriServ Financial	188,151	$627M	0.2%	$2888.57	—	COM	03074a102
—	NewBridge Bancorp	68,753	$614M	0.2%	$6330.10	—	COM	65080t102
—	HF Financial	40,231	$610M	0.2%	$13068.79	—	COM	404172108
—	C & J Energy Services	46,107	$609M	0.2%	$11214.85	—	COM	g3164q101
—	Southeastern Bank Fin	20,146	$606M	0.2%	$21906.79	—	COM	841584105
—	Baylake Corp	45,174	$571M	0.2%	$11248.19	—	COM	072788102
INTC	Intel	18,533	$564M	0.2%	$18.42	+36.3%	COM	458140100
—	HMN Financial	47,760	$563M	0.2%	$7289.68	—	COM	40424g108
—	Freddie Mac	147,300	$562M	0.2%	$3950.00	—	PREF STK	313400640
—	SPDR S&P 600 Small Cap	4,961	$527M	0.2%	$107704.30	—	COM	78464a300
—	Yadkin Financial	24,461	$512M	0.2%	$14040.11	—	COM	984305102
—	Peoples Financial	48,483	$507M	0.2%	$12793.75	—	COM	71103b102
—	Centrus Energy Corp	1,263,487	$493M	0.2%	$697.00	—	CONV BOND	15643uaa2
—	QEP Resources	26,620	$493M	0.2%	$29788.70	—	COM	74733v100
—	Xerium Technologies	27,005	$492M	0.2%	$11040.88	—	COM	98416j118
UBOH	United Bancshares	31,026	$481M	0.2%	$12714.71	—	COM	909458101
FRME	First Merchants	19,320	$477M	0.2%	$11.62	+49.9%	COM	320817109
—	Cal Dive International	4,550,000	$469M	0.2%	$357.98	—	CONV BOND	12802TAB7
—	Astoria Financial	33,190	$458M	0.2%	$11743.63	—	COM	046265104
ZION	Zions Bancorp	14,416	$457M	0.2%	$26.77	+9.9%	COM	989701107
—	United Community Banks	21,410	$447M	0.2%	$12814.59	—	COM	90984p303
—	MainSource Financial	20,038	$440M	0.2%	$13878.91	—	COM	56062y102
CFG	Citizens Financial	16,022	$438M	0.2%	$16.22	+11.9%	COM	174610105
—	Cisco Systems	15,900	$437M	0.2%	$24363.22	—	COM	17275r102
IYF	iShares DJ US Financial	4,774	$428M	0.2%	$81759.95	—	COM	464287788
—	Energy Transfer Equity	6,656	$427M	0.2%	$56473.64	—	COM	29273v100
—	Western Gas LP	6,600	$418M	0.2%	$73050.00	—	COM	958254104
—	SunTrust Banks	9,501	$409M	0.1%	$33043.35	—	COM	867914103
—	CenterState Banks	29,725	$402M	0.1%	$9088.85	—	COM	15201p109
—	Atlas Energy Group	74,988	$375M	0.1%	$6009.99	—	COM	04929q102
TSBK	Timberland Bancorp	37,350	$374M	0.1%	$6.37	+17.9%	COM	887098101
BAC	Bank of America	21,604	$368M	0.1%	$10.42	+26.0%	COM	060505104
—	Pacific Premier	19,400	$329M	0.1%	$12330.70	—	COM	69478x105
—	Citigroup	423,183	$313M	0.1%	$736.07	—	COM	172967226
EEM	iShares MSCI Emerging Markets	7,615	$302M	0.1%	$43229.94	—	COM	464287234
—	HopFed Bancorp	24,908	$295M	0.1%	$10965.46	—	COM	439734104
MOFG	MidWest One	8,699	$286M	0.1%	$23.89	+25.3%	COM	598511103
—	RAIT Financial	46,800	$286M	0.1%	$7647.72	—	COM	749227104
—	Hawaiian Holdings	10,587	$251M	0.1%	$6275.29	—	COM	419879101
—	A T & T INC NEW	6,374	$226M	0.1%	$35354.62	—	COM	00206r102
FCF	First Commonwealth	22,878	$219M	0.1%	$4.86	+33.5%	COM	319829107
—	Valeant Pharmaceuticals	977	$217M	0.1%	$222226.20	—	COM	91911K102
—	ConocoPhillips	3,476	$213M	0.1%	$61409.95	—	COM	20825c104
FBNC	First Bancorp	12,606	$210M	0.1%	$11.04	+21.2%	COM	318910106
—	Centrus Energy	45,061	$186M	0.1%	$5085.18	—	COM	15643u104
TIP	iShares Barclays TIPS	1,634	$183M	0.1%	$112114.95	—	COM	464287176
—	Kinder Morgan	65,140	$176M	0.1%	$3084.64	—	COM	49456b119
BBT	Berkshire Hills Bancorp	5,544	$158M	0.1%	$18.19	+12.2%	COM	084680107
—	Energy XXI	4,500	$154M	0.1%	$254049.17	—	CONV PREF	29274u309
—	Windstream Holdings	22,499	$144M	0.1%	$6380.02	—	COM	97382a101
FITB	Fifth Third Bancorp	6,475	$135M	0.0%	$11.79	+18.9%	COM	316773100
FNB	F.N.B. Corporation	8,444	$121M	0.0%	$7.90	+14.0%	COM	302520101
—	Cenveo	56,350	$119M	0.0%	$2937.94	—	COM	15670s105
—	Alliance Resource LP	4,750	$119M	0.0%	$58640.00	—	COM	01877r108
—	1st Constitution Bancorp.	9,905	$113M	0.0%	$9655.42	—	COM	31986n102
PM	Philip Morris Int	1,398	$112M	0.0%	$48.32	0.0%	COM	718172109
—	Bank of America	199,625	$103M	0.0%	$596.91	—	COM	060505153
—	Teekay Offshore LP	4,893	$98.98M	0.0%	$32508.02	—	COM	y8565j101
—	Gulf Coast Ultra Deep	108,500	$75.95M	0.0%	$2180.00	—	COM	40222t104
F	Ford Motor	4,805	$72.13M	0.0%	$9.38	-6.7%	COM	345370860
—	MPLX	870	$62.1M	0.0%	$71380.46	—	COM	55336v100
—	Transmontaigne LP	1,625	$61.75M	0.0%	$42165.18	—	COM	89376v100
—	WPX Energy	4,630	$56.85M	0.0%	$10929.16	—	COM	98212b103
—	DCB Financial	7,827	$56.75M	0.0%	$5299.99	—	COM	233075100
—	Williams Partners	1,060	$51.34M	0.0%	$51847.18	—	COM	96950f104
HON	Honeywell	500	$50.98M	0.0%	$72.99	+2.4%	COM	438516106
—	SPDR Barclays Convertible	1,060	$50.42M	0.0%	$47569.81	—	COM	78464a359
—	SPDR Barclays High Yield	1,000	$38.43M	0.0%	$38430.00	—	COM	78464a417
—	BB&T Corporation	900	$36.28M	0.0%	$33750.00	—	COM	054937107
—	Energy XXI	13,600	$35.77M	0.0%	$19908.02	—	COM	g10082140
—	ONEOK Partners	1,000	$34M	0.0%	$53319.20	—	COM	68268N103
—	Bank of America	29	$32.25M	0.0%	$1109103.50	—	CONV PREF	060505682
—	Susquehanna Banc	2,150	$30.36M	0.0%	$12849.97	—	COM	869099101
—	Tesoro Logistics LP	500	$28.56M	0.0%	$57120.00	—	COM	88160T107
—	Southwestern Energy	1,205	$27.39M	0.0%	$22913.25	—	COM	845467109
—	Capital Product Partners	3,500	$27.34M	0.0%	$7810.00	—	COM	mhy110821
C	Citigroup	437	$24.14M	0.0%	$40.55	0.0%	COM	172967424
—	SandRidge Energy	27,000	$23.68M	0.0%	$2023.45	—	COM	80007p307
—	SM Energy	505	$23.29M	0.0%	$46120.79	—	COM	792228108
—	BNC Bancorp	1,200	$23.2M	0.0%	$11499.93	—	COM	05566t101
—	Navios Holdings	6,200	$23.06M	0.0%	$4767.10	—	COM	y62196103
—	BOK Financial	310	$21.58M	0.0%	$69606.45	—	COM	05561q201
—	SUPERVALU	2,600	$21.03M	0.0%	$6231.04	—	COM	868536103
—	A E S	410	$20.85M	0.0%	$50496.97	—	CONV PREF	00808n202
—	Umpqua Holdings	1,100	$19.79M	0.0%	$15010.00	—	COM	904214103
—	LGI Homes	1,000	$19.78M	0.0%	$19780.00	—	COM	50187t106
IP	International Paper	365	$17.37M	0.0%	$30.67	+2.7%	COM	460146103
—	Capital Bank Financial	473	$13.75M	0.0%	$19019.03	—	COM	139794101
COFS	Choiceone Financial	576	$13.27M	0.0%	$9.50	+48.6%	COM	170386106
—	Central Valley Comm Banc	1,115	$13.19M	0.0%	$11066.73	—	COM	155685100
—	Southwest Bancorp	700	$13.03M	0.0%	$13200.00	—	COM	844767103
AGM	Fed Ag Mortgage	400	$11.62M	0.0%	$20.93	+7.8%	COM	313148306
—	Eagle Rock Energy Partners	4,321	$10.8M	0.0%	$7813.67	—	COM	26985r104
—	Banner Corp	200	$9.6M	0.0%	$33835.00	—	COM	06652v208
—	SunPower Corporation	236	$6.705M	0.0%	$32259.33	—	COM	867652406
WEBC	Webco Ind	100	$5.75M	0.0%	$65.47	-4.3%	COM	947621207
—	Whiting Petroleum	150	$5.04M	0.0%	$30900.00	—	COM	966387102
—	JP Morgan Chase	200	$4.95M	0.0%	$19330.00	—	COM	46634e114
—	Alliance One Int	200	$4.782M	0.0%	$3360.00	—	COM	018772103
—	Meritage Homes	100	$4.709M	0.0%	$41880.00	—	COM	59001a102
—	DR Horton	150	$4.104M	0.0%	$28480.00	—	COM	23331a109
TOL	Toll Brothers	100	$3.819M	0.0%	$34.26	+9.3%	COM	889478103
—	First Niagara Financial	180	$1.699M	0.0%	$9959.81	—	COM	33582v108
—	Park Sterling	164	$1.181M	0.0%	$7201.22	—	COM	70086y105
—	Doral Financial	2,000	$700K	0.0%	$6500.00	—	COM	25811p886