Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	SPDR Dow Jones Industrial Average	46,828	$8.148B	3.8%	$168152.42	—	COM	78467x109
—	Magellan Midstream Partners	97,084	$6.594B	3.1%	$54940.09	—	COM	559080106
WMB	Williams Companies	223,674	$5.748B	2.7%	$19.80	-1.2%	COM	969457100
—	Alaska Communications	4,390,000	$4.385B	2.0%	$941.25	—	CONV BOND	01167pae1
—	MPLX	99,918	$3.93B	1.8%	$39562.66	—	COM	55336v100
—	EnLink Midstream LP	235,651	$3.907B	1.8%	$29255.63	—	COM	29336u107
NGL	NGL Energy Partners	351,379	$3.879B	1.8%	$33816.91	—	COM	62913M107
—	Shell Midstream Partners	89,049	$3.697B	1.7%	$39467.40	—	COM	822634101
GEL	Genesis Energy	100,372	$3.688B	1.7%	$51672.32	—	COM	371927104
—	VTTI Energy Partners	167,110	$3.464B	1.6%	$24757.28	—	COM	y9384m101
—	Rice Midstream Partners	249,488	$3.366B	1.6%	$16473.83	—	COM	762819100
—	RAIT Financial	3,310,000	$3.227B	1.5%	$1215.67	—	CONV BOND	749227aa2
EPD	Enterprise Products Partners	121,817	$3.116B	1.5%	$33133.94	—	COM	293792107
—	QCR Holdings	124,739	$3.03B	1.4%	$16036.23	—	COM	74727a104
OKE	ONEOK	116,184	$2.865B	1.3%	$21.15	-24.5%	COM	682680103
—	Goldman Sachs Group	15,206	$2.741B	1.3%	$163236.95	—	COM	38141g104
—	EZCorp	3,900,000	$2.684B	1.3%	$712.17	—	CONV BOND	302301AB2
—	Alliance Holdings GP	132,204	$2.668B	1.2%	$58733.18	—	COM	01861g100
—	Kinder Morgan	168,285	$2.511B	1.2%	$39260.44	—	COM	49456b101
—	Holly Energy Partners	79,111	$2.464B	1.1%	$37351.07	—	COM	435763107
—	Banc of California	167,843	$2.454B	1.1%	$12743.17	—	COM	05990k106
—	Broadsoft	2,250,000	$2.417B	1.1%	$1016.39	—	CONV BOND	11133BAB8
—	Tesoro Logistics	47,332	$2.382B	1.1%	$45123.72	—	COM	88160T107
—	Bunge Ltd	25,320	$2.356B	1.1%	$101898.09	—	CONV PREF	g16962204
—	3M Co	15,428	$2.324B	1.1%	$116410.43	—	COM	88579y101
BA	Boeing	16,046	$2.32B	1.1%	$86.89	+48.3%	COM	097023105
—	Prospect Capital Corp	2,264,000	$2.232B	1.0%	$1026.36	—	CONV BOND	74348TAK8
—	KB HOME	2,440,000	$2.203B	1.0%	$1003.62	—	CONV BOND	48666KAS8
HD	Home Depot	15,998	$2.116B	1.0%	$57.74	+73.2%	COM	437076102
IBM	IBM	15,316	$2.108B	1.0%	$117.36	-25.4%	COM	459200101
—	Iridium Communications	21,055	$2.081B	1.0%	$67435.05	—	CONV PREF	46269c508
—	Newmont Mining	2,045,000	$2.024B	0.9%	$995.66	—	CONV BOND	651639AJ5
MBWM	Mercantile Bank	79,885	$1.96B	0.9%	$13.04	+23.2%	COM	587376104
MCD	McDonald's	16,399	$1.937B	0.9%	$71.62	+21.8%	COM	580135101
—	Quidel Corp	1,935,000	$1.879B	0.9%	$997.75	—	CONV BOND	74838JAA9
—	Titan Machinery	2,861,000	$1.857B	0.9%	$855.95	—	CONV BOND	88830RAB7
JNJ	Johnson & Johnson	17,994	$1.848B	0.9%	$67.93	+11.8%	COM	478160104
—	UnitedHealth	15,498	$1.823B	0.9%	$69896.05	—	COM	91324p102
AAPL	Apple	17,132	$1.803B	0.8%	$26.84	-4.1%	COM	037833100
—	Blucora	2,170,000	$1.797B	0.8%	$944.67	—	CONV BOND	095229AB6
—	Travelers Companies	15,293	$1.726B	0.8%	$82914.17	—	COM	89417e109
DIS	Disney	15,706	$1.65B	0.8%	$61.58	+66.0%	COM	254687106
CVX	Chevron Corporation	17,926	$1.613B	0.8%	$72.26	-19.1%	COM	166764100
—	Exxon Mobil	20,548	$1.602B	0.7%	$91246.90	—	COM	30231g102
SFST	Southern First Bancshares	69,896	$1.587B	0.7%	$12.67	+70.1%	COM	842873101
—	SB Financial Group	138,911	$1.547B	0.7%	$7900.51	—	COM	78408d105
—	Aircastle LTD	73,871	$1.543B	0.7%	$16107.22	—	COM	g0129k104
—	Atlas Air Worldwide	1,860,000	$1.538B	0.7%	$805.74	—	CONV BOND	049164BH8
—	United Technologies	15,211	$1.461B	0.7%	$95947.12	—	COM	913017109
—	Apollo Investment Corp	1,465,000	$1.46B	0.7%	$996.76	—	CONV BOND	03761UAE6
—	General Cable	2,400,000	$1.459B	0.7%	$1087.13	—	CONV BOND	369300al2
—	Targa Resources	86,987	$1.438B	0.7%	$41145.01	—	COM	87611x105
—	Plains GP Holdings	149,982	$1.417B	0.7%	$28195.61	—	COM	72651a108
—	Jefferies Group	1,407,000	$1.401B	0.7%	$1077.32	—	CONV BOND	472319ag7
—	PetroQuest Energy	77,567	$1.393B	0.6%	$32401.73	—	CONV PREF	716748207
MMLP	Martin Midstream Partners	63,996	$1.389B	0.6%	$43871.37	—	COM	573331105
—	Rose Rock Midstream	90,845	$1.366B	0.6%	$33459.54	—	COM	777149105
PG	Procter & Gamble	17,117	$1.359B	0.6%	$55.78	+3.9%	COM	742718109
KALU	Kaiser Aluminum	15,983	$1.337B	0.6%	$43.76	+37.7%	COM	483007704
—	Teekay LNG Partners	101,571	$1.336B	0.6%	$43562.55	—	COM	y8564m105
—	AK Steel	2,530,000	$1.335B	0.6%	$1104.10	—	CONV BOND	001546ap5
—	JPMorgan	19,511	$1.288B	0.6%	$54066.50	—	COM	46625h100
—	Summit Financial	104,027	$1.236B	0.6%	$10841.17	—	COM	86606g101
AAL	American Airlines Group	28,270	$1.197B	0.6%	$32.34	+27.9%	COM	02376R102
—	Visa	15,046	$1.167B	0.5%	$209028.31	—	COM	92826c839
—	Navistar Intl	2,215,000	$1.102B	0.5%	$934.77	—	CONV BOND	63934eaq1
—	Du Pont	16,347	$1.089B	0.5%	$56844.73	—	COM	263534109
—	General Electric	33,899	$1.056B	0.5%	$23429.61	—	COM	369604103
AXP	American Express Company	15,162	$1.055B	0.5%	$63.34	-0.7%	COM	025816109
—	Eastern Virginia Bankshares	146,781	$1.054B	0.5%	$5496.54	—	COM	277196101
ONB	Old National Bancorp	77,717	$1.054B	0.5%	$13.50	+4.8%	COM	680033107
—	Teekay Inc	106,382	$1.05B	0.5%	$45777.65	—	COM	y8564w103
—	Alaska Communications	599,865	$1.05B	0.5%	$2366.71	—	COM	01167p101
—	Kimball Electronics	94,335	$1.037B	0.5%	$11930.00	—	COM	49428j109
CAT	Caterpillar	15,074	$1.024B	0.5%	$64.97	-16.0%	COM	149123101
—	Superior Industries	54,784	$1.009B	0.5%	$17606.16	—	COM	868168105
—	Merck	19,089	$1.008B	0.5%	$49416.61	—	COM	58933y105
MSFT	Microsoft	18,141	$1.006B	0.5%	$27.82	+65.1%	COM	594918104
—	First Bancshares	55,666	$1.005B	0.5%	$14163.50	—	COM	318916103
—	Archrock Partners LP	80,762	$994M	0.5%	$16430.00	—	COM	03957u100
—	Iridium Communications	116,105	$976M	0.5%	$7528.61	—	COM	46269c102
—	Premier Financial	58,917	$969M	0.5%	$13090.49	—	COM	74050m105
WMT	Wal-Mart	15,767	$967M	0.5%	$20.02	-16.9%	COM	931142103
—	Masonite	15,757	$965M	0.4%	$50125.18	—	COM	575385109
NKE	Nike	15,078	$942M	0.4%	$32.82	+72.6%	COM	654106103
FCCO	First Community	62,105	$927M	0.4%	$8.62	+19.4%	COM	319835104
—	Iridium Communications	3,000	$924M	0.4%	$308000.00	—	CONV PREF	46269c409
OLN	Olin	53,419	$922M	0.4%	$16.84	-15.1%	COM	680665205
HVT	Haverty Furniture	42,850	$919M	0.4%	$21.65	+5.9%	COM	419596101
—	Rofin-Sinar Technologies	33,750	$904M	0.4%	$24793.49	—	COM	775043102
DAKT	Daktronics	99,151	$865M	0.4%	$8.37	-4.7%	COM	234264109
—	Navios Maritime Partners	285,357	$862M	0.4%	$14178.12	—	COM	y62267102
—	Verizon	18,514	$856M	0.4%	$49973.32	—	COM	92343v104
—	EnLink Midstream LLC	56,138	$847M	0.4%	$33044.79	—	COM	29336t100
—	MDC Holdings	32,007	$817M	0.4%	$29761.34	—	COM	552676108
RAIL	FreightCar America	41,379	$804M	0.4%	$21.45	-2.0%	COM	357023100
IBCP	Independent Bank	52,055	$793M	0.4%	$4.96	+112.4%	COM	453838609
—	MutualFirst Financial	31,878	$791M	0.4%	$14733.70	—	COM	62845b104
—	Codorus Bancorp	37,804	$769M	0.4%	$19271.40	—	COM	192025104
—	HF Financial	40,276	$761M	0.4%	$13068.79	—	COM	404172108
PEBK	Peoples Bancorp	38,741	$749M	0.3%	$14.06	+21.4%	COM	710577107
PFE	Pfizer	22,458	$725M	0.3%	$16.71	+22.0%	COM	717081103
KO	Coca-Cola Company	16,537	$710M	0.3%	$27.92	+10.5%	COM	191216100
—	Cenveo Corp	880,000	$672M	0.3%	$1010.73	—	CONV BOND	15671BAJ0
—	Southeastern Bank Financial	20,161	$666M	0.3%	$21906.79	—	COM	841584105
—	Baylake Corp	45,176	$660M	0.3%	$11248.19	—	COM	072788102
—	Communications Sales & Leasing	34,940	$653M	0.3%	$23708.35	—	COM	20341j104
—	Arcbest	30,097	$644M	0.3%	$41058.37	—	COM	03937c105
INTC	Intel	18,477	$637M	0.3%	$18.47	+44.3%	COM	458140100
—	Yadkin Financial	24,018	$605M	0.3%	$14040.11	—	COM	984305102
—	AmeriServ Financial	187,839	$601M	0.3%	$2888.57	—	COM	03074a102
—	Horsehead Holding	2,445,000	$600M	0.3%	$646.37	—	CONV BOND	440694AB3
—	RAIT Financial	765,000	$597M	0.3%	$951.63	—	CONV BOND	749227AB0
UBOH	United Bancshares	32,137	$586M	0.3%	$12803.97	—	COM	909458101
—	Barnes & Noble	65,069	$567M	0.3%	$12002.26	—	COM	067774109
CIVB	Civista Bancshares	43,062	$552M	0.3%	$8.02	+3.2%	COM	178867107
—	HMN Financial	47,760	$552M	0.3%	$7289.68	—	COM	40424g108
—	Spartan Motors	175,709	$546M	0.3%	$5649.10	—	COM	846819100
—	Rent-A-Center	35,295	$528M	0.2%	$26637.63	—	COM	76009n100
—	Astoria Financial	33,190	$526M	0.2%	$11743.63	—	COM	046265104
—	Navios Maritime Holdings	297,300	$520M	0.2%	$2435.19	—	COM	y62196103
—	McDermott International	150,168	$503M	0.2%	$7089.86	—	COM	580037109
FRME	First Merchants	19,320	$491M	0.2%	$11.62	+68.9%	COM	320817109
UIS	Unisys	43,915	$485M	0.2%	$21.21	-40.3%	COM	909214306
TSBK	Timberland Bancorp	38,735	$481M	0.2%	$6.42	+34.4%	COM	887098101
—	SPDR S&P 600 Small Cap Value ETF	5,123	$476M	0.2%	$107266.53	—	COM	78464a300
—	Peoples Financial	52,513	$473M	0.2%	$12539.33	—	COM	71103b102
—	MainSource Financial	20,039	$458M	0.2%	$13878.91	—	COM	56062y102
BAC	Bank of America	26,604	$448M	0.2%	$10.99	+23.4%	COM	060505104
—	Two River Bancorp	43,486	$433M	0.2%	$9950.01	—	COM	90207c105
—	Cisco Systems	15,928	$433M	0.2%	$24390.70	—	COM	17275r102
CFG	Citizens Financial Group	16,495	$432M	0.2%	$16.26	+6.8%	COM	174610105
—	Xerium Technologies	36,424	$432M	0.2%	$11519.91	—	COM	98416j118
—	Targa Resources Corp	15,897	$430M	0.2%	$95788.95	—	COM	87612g101
IYF	iShares DJ US Financial Sector	4,774	$422M	0.2%	$81759.95	—	COM	464287788
—	United Community Banks	21,410	$417M	0.2%	$12814.59	—	COM	90984p303
—	Freddie Mac	147,300	$411M	0.2%	$3950.00	—	PREF STK	313400640
—	SunTrust	9,501	$407M	0.2%	$33043.35	—	COM	867914103
ZION	Zions Bancorp	14,416	$394M	0.2%	$26.77	+7.2%	COM	989701107
PAA	Plains All American Pipeline	16,156	$373M	0.2%	$55710.78	—	COM	726503105
—	Western Gas Partners	6,600	$314M	0.1%	$73050.00	—	COM	958254104
—	First South Bancorp	35,367	$302M	0.1%	$8550.00	—	COM	33646W100
—	HopFed Bancorp	24,909	$299M	0.1%	$10965.46	—	COM	439734104
MOFG	MidWest One Financial	8,699	$265M	0.1%	$23.89	+28.9%	COM	598511103
EEM	iShares MSCI Emerging Markets Index	7,615	$245M	0.1%	$43229.94	—	COM	464287234
—	Genco Shipping	161,592	$241M	0.1%	$7121.60	—	COM	y2685t115
—	C & J Energy Services	50,367	$240M	0.1%	$10295.65	—	COM	g3164q101
FBNC	First Bancorp	12,607	$236M	0.1%	$11.04	+38.8%	COM	318910106
—	A T & T INC NEW	6,729	$232M	0.1%	$35247.94	—	COM	00206r102
FCF	First Commonwealth Financial	22,878	$208M	0.1%	$4.86	+37.5%	COM	319829107
—	Hawaiian Holdings	5,438	$192M	0.1%	$6275.29	—	COM	419879101
—	Energy Transfer Partners	5,586	$188M	0.1%	$51820.04	—	COM	29273R109
—	Energy Transfer Equity	13,312	$183M	0.1%	$38641.83	—	COM	29273v100
BBT	Berkshire Hills Bancorp	5,944	$173M	0.1%	$18.37	+17.1%	COM	084680107
—	RAIT Financial	61,930	$167M	0.1%	$4480.85	—	COM	749227609
—	Sandridge Energy	34,520	$164M	0.1%	$95508.01	—	CONV PREF	80007p604
TIP	iShares Barclays TIPS Bond	1,430	$157M	0.1%	$112114.95	—	COM	464287176
—	Windstream Holdings	22,499	$145M	0.1%	$6372.73	—	COM	97382a101
FITB	Fifth Third Bancorp	6,475	$130M	0.1%	$11.79	+17.7%	COM	316773100
—	1st Constitution Bancorp	9,905	$127M	0.1%	$9655.42	—	COM	31986n102
PM	Philip Morris International	1,398	$123M	0.1%	$52.28	0.0%	COM	718172109
FNB	FNB Corporation	8,444	$113M	0.1%	$7.90	+16.9%	COM	302520101
—	Central Valley Community Bancorp	8,715	$105M	0.0%	$11969.52	—	COM	155685100
—	Valeant Pharmaceuticals	1,012	$103M	0.0%	$101683.80	—	COM	91911K102
C	Citigroup	1,937	$100M	0.0%	$40.71	-2.7%	COM	172967424
—	Altria	1,697	$98.78M	0.0%	$58209.78	—	COM	02209s103
—	Citigroup Inc	487,183	$87.69M	0.0%	$699.81	—	COM	172967226
F	Ford	5,615	$79.12M	0.0%	$9.21	-9.4%	COM	345370860
—	Energy XXI	4,500	$74.53M	0.0%	$254049.17	—	CONV PREF	29274u309
—	Teekay Tankers	10,000	$68.8M	0.0%	$6900.00	—	COM	y8565n102
—	Atlas Energy	71,877	$68.28M	0.0%	$6009.99	—	COM	04929q102
—	DCB Financial	7,827	$58.62M	0.0%	$5299.99	—	COM	233075100
—	Bank of America	215,625	$58.22M	0.0%	$573.40	—	COM	060505153
—	SandRidge Energy	279,788	$55.96M	0.0%	$437.89	—	COM	80007p307
—	BB&T Corporation	1,443	$54.56M	0.0%	$34446.21	—	COM	054937107
—	Alliance Resource LP	3,900	$52.61M	0.0%	$58640.00	—	COM	01877r108
—	Cenveo	56,350	$49.1M	0.0%	$2937.94	—	COM	15670s105
—	SPDR Barclays Convertible Securities	1,060	$45.88M	0.0%	$43280.19	—	COM	78464a359
—	Transmontaigne Partners	1,625	$43.48M	0.0%	$42165.18	—	COM	89376v100
SCHO	Schwab Short-Term U.S. Treasury ETF	732	$36.91M	0.0%	$50811.96	—	COM	808524862
—	Bank of America	29	$31.7M	0.0%	$1109103.50	—	CONV PREF	060505682
—	Teekay Offshore Partners	4,757	$30.82M	0.0%	$32508.02	—	COM	y8565j101
—	BNC Bancorp	1,200	$30.46M	0.0%	$11499.93	—	COM	05566t101
—	Williams Partners	1,060	$29.52M	0.0%	$51847.18	—	COM	96950f104
LGIH	LGI Homes	1,000	$24.33M	0.0%	$29.17	0.0%	COM	50187T106
—	Cal Dive International	4,550,000	$22.75M	0.0%	$357.98	—	CONV BOND	12802TAB7
—	QEP Resources	1,620	$21.71M	0.0%	$29788.70	—	COM	74733v100
—	A E S	375	$18.78M	0.0%	$50496.97	—	CONV PREF	00808n202
—	EOG Resources	255	$18.05M	0.0%	$72800.00	—	COM	26875p101
—	SUPERVALU	2,600	$17.63M	0.0%	$6231.04	—	COM	868536103
—	Umpqua Holdings	1,100	$17.49M	0.0%	$15010.00	—	COM	904214103
—	Pacific Premier Bancorp	800	$17M	0.0%	$12330.70	—	COM	69478x105
EZPW	EZCORP	3,160	$15.77M	0.0%	$6.33	-6.6%	COM	302301106
—	Capital Bank Financial	473	$15.13M	0.0%	$19019.03	—	COM	139794101
—	ONEOK Partners	500	$15.06M	0.0%	$53319.20	—	COM	68268N103
—	Energy XXI	13,800	$13.94M	0.0%	$19634.13	—	COM	g10082140
COFS	Choiceone Financial Services	576	$13.71M	0.0%	$9.50	+54.5%	COM	170386106
—	Southwest Bancorp	700	$12.24M	0.0%	$13200.00	—	COM	844767103
—	NewBridge Bancorp	1,000	$12.18M	0.0%	$6330.10	—	COM	65080t102
—	First Savings Financial Group	320	$11.66M	0.0%	$34000.00	—	COM	33621e109
—	Banner Corp.	200	$9.185M	0.0%	$33835.00	—	COM	06652v208
—	Southwestern Energy	1,205	$8.568M	0.0%	$22913.25	—	COM	845467109
—	Sunoco Logistics	320	$8.224M	0.0%	$25700.00	—	COM	86764l108
—	DR Horton	250	$8.008M	0.0%	$28832.00	—	COM	23331a109
—	Colony Capital	400	$7.792M	0.0%	$19480.00	—	COM	19624r106
—	AK Steel	3,000	$6.72M	0.0%	$2410.00	—	COM	001547108
TOL	Toll Brothers	200	$6.66M	0.0%	$36.06	-1.1%	COM	889478103
—	JP Morgan Chase	200	$4.738M	0.0%	$19330.00	—	COM	46634e114
—	Meritage Homes	100	$3.399M	0.0%	$41880.00	—	COM	59001a102
—	Boardwalk Pipeline LP	200	$2.596M	0.0%	$12980.00	—	COM	096627104
—	First Niagara Financial	180	$1.953M	0.0%	$9959.81	—	COM	33582v108
—	Kinder Morgan Inc	7,140	$429K	0.0%	$3020.16	—	COM	49456b119
—	American Int Group	8	$190K	0.0%	$22750.00	—	COM	026874156
—	Genco Shipping	2,155	$129K	0.0%	$410.21	—	COM	y2685t123