Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	SPDR Dow Jones Industrial	43,533	$7.792B	3.3%	$168152.42	—	COM	78467x109
NGL	NGL Energy Partners	354,443	$6.848B	2.9%	$33405.04	—	COM	62913M107
—	Magellan Midstream	87,082	$6.618B	2.8%	$54940.09	—	COM	559080106
OKE	ONEOK Inc	110,037	$5.221B	2.2%	$21.15	+4.6%	COM	682680103
—	Rice Midstream LP	227,868	$4.655B	2.0%	$16473.83	—	COM	762819100
WMB	Williams Companies	210,883	$4.561B	1.9%	$19.80	-39.6%	COM	969457100
—	Alaska Communications	4,105,000	$3.964B	1.7%	$941.25	—	CONV BOND	01167pae1
GEL	Genesis Energy	98,233	$3.769B	1.6%	$51672.32	—	COM	371927104
—	EnLink Midstream Partners	224,586	$3.735B	1.6%	$29255.63	—	COM	29336u107
EPD	Enterprise Products Partners	116,377	$3.405B	1.5%	$33050.05	—	COM	293792107
—	QCR Holdings	125,070	$3.401B	1.5%	$16036.23	—	COM	74727a104
—	VTTI Energy Partners	164,157	$3.332B	1.4%	$24648.54	—	COM	y9384m101
—	EZCorp Inc	3,915,000	$3.247B	1.4%	$716.21	—	CONV BOND	302301AB2
—	MPLX LP	96,151	$3.234B	1.4%	$39562.66	—	COM	55336v100
—	Targa Resources	74,560	$3.142B	1.3%	$45184.28	—	COM	87612g101
—	Banc of California	171,360	$3.102B	1.3%	$12859.73	—	COM	05990k106
—	Alliance Holdings GP	141,907	$2.986B	1.3%	$55822.59	—	COM	01861g100
—	Phillips 66 Partners	52,180	$2.915B	1.2%	$55870.01	—	COM	718549207
—	Holly Energy Partners	84,118	$2.915B	1.2%	$37150.52	—	COM	435763107
—	Antero Midstream LP	103,700	$2.89B	1.2%	$27870.00	—	COM	03673l103
—	Shell Midstream Partners	84,098	$2.842B	1.2%	$39467.40	—	COM	822634101
—	AK Steel Corporation	2,430,000	$2.773B	1.2%	$1104.10	—	CONV BOND	001546ap5
—	3M	15,290	$2.678B	1.1%	$116410.43	—	COM	88579y101
—	Broadsoft	2,175,000	$2.499B	1.1%	$1016.39	—	CONV BOND	11133BAB8
IBM	IBM	15,091	$2.291B	1.0%	$117.36	-18.9%	COM	459200101
—	Prospect Capital Corp	2,239,000	$2.269B	1.0%	$1026.36	—	CONV BOND	74348TAK8
—	Newmont Mining	2,015,000	$2.251B	1.0%	$995.66	—	CONV BOND	651639AJ5
—	KB HOME	2,345,000	$2.247B	1.0%	$1003.62	—	CONV BOND	48666KAS8
—	Bunge Ltd	24,274	$2.246B	1.0%	$101898.09	—	CONV PREF	g16962204
—	Goldman Sachs	15,095	$2.243B	1.0%	$163236.95	—	COM	38141g104
—	Titan Machinery	2,702,000	$2.229B	1.0%	$855.95	—	CONV BOND	88830RAB7
—	Tesoro Logistics	44,154	$2.187B	0.9%	$45123.72	—	COM	88160T107
—	UnitedHealth Group	15,357	$2.168B	0.9%	$69896.05	—	COM	91324p102
JNJ	Johnson & Johnson	17,816	$2.161B	0.9%	$67.93	+28.2%	COM	478160104
—	Iridium Communications	21,025	$2.133B	0.9%	$67435.05	—	CONV PREF	46269c508
BA	Boeing	15,985	$2.076B	0.9%	$86.89	+36.4%	COM	097023105
—	Blucora Inc	2,195,000	$2.03B	0.9%	$943.91	—	CONV BOND	095229AB6
HD	Home Depot	15,887	$2.029B	0.9%	$57.74	+81.8%	COM	437076102
—	Summit Financial Group	114,365	$2.001B	0.9%	$11259.59	—	COM	86606g101
MCD	McDonald's	16,258	$1.956B	0.8%	$71.62	+38.4%	COM	580135101
—	Atlas Air Worldwide	2,005,000	$1.942B	0.8%	$813.71	—	CONV BOND	049164BH8
MBWM	Mercantile Bank	80,332	$1.917B	0.8%	$13.04	+25.7%	COM	587376104
—	Wintrust Financial	1,457	$1.914B	0.8%	$1215261.90	—	CONV PREF	97650w306
CVX	Chevron	17,839	$1.87B	0.8%	$72.26	-7.6%	COM	166764100
—	SB Financial Group	171,031	$1.859B	0.8%	$8434.42	—	COM	78408d105
—	Quidel Corp	1,965,000	$1.826B	0.8%	$994.79	—	CONV BOND	74838JAA9
—	Greenbriar	1,692,000	$1.821B	0.8%	$1067.14	—	CONV BOND	393657AH4
—	Travelers	15,082	$1.795B	0.8%	$82914.17	—	COM	89417e109
—	Exxon Mobil	18,373	$1.722B	0.7%	$91246.90	—	COM	30231g102
SFST	Southern First Bancshares	69,689	$1.68B	0.7%	$12.67	+97.2%	COM	842873101
—	PetroQuest Energy	72,967	$1.631B	0.7%	$32401.73	—	CONV PREF	716748207
AAPL	Apple	16,443	$1.572B	0.7%	$26.84	-15.7%	COM	037833100
—	United Technologies	15,100	$1.549B	0.7%	$95947.12	—	COM	913017109
—	Plains GP Holdings	147,432	$1.538B	0.7%	$28195.61	—	COM	72651a108
DIS	Walt Disney	15,616	$1.528B	0.7%	$61.58	+49.7%	COM	254687106
—	Rose Rock Midstream	56,788	$1.499B	0.6%	$33459.54	—	COM	777149105
MMLP	Martin Midstream LP	64,746	$1.496B	0.6%	$43099.80	—	COM	573331105
—	Aircastle LTD	75,029	$1.468B	0.6%	$16175.46	—	COM	g0129k104
PG	Procter & Gamble	17,006	$1.44B	0.6%	$55.78	+13.5%	COM	742718109
—	Navistar Intl	2,155,000	$1.435B	0.6%	$934.77	—	CONV BOND	63934eaq1
—	Jefferies Group	1,387,000	$1.401B	0.6%	$1077.32	—	CONV BOND	472319ag7
—	Royal Gold	1,300,000	$1.396B	0.6%	$966.12	—	CONV BOND	780287AA6
—	Superior Industries	50,709	$1.358B	0.6%	$17606.16	—	COM	868168105
—	General Cable	2,330,000	$1.33B	0.6%	$1087.13	—	CONV BOND	369300al2
OLN	Olin Corp	52,425	$1.302B	0.6%	$16.84	-2.4%	COM	680665205
—	Sunpower Corp	1,500,000	$1.213B	0.5%	$808.80	—	CONV BOND	867652AJ8
—	JPMorgan Chase	19,426	$1.207B	0.5%	$54066.50	—	COM	46625h100
—	Apollo Education	127,960	$1.167B	0.5%	$8225.82	—	COM	037604105
—	Eastern Virginia Banks	152,963	$1.155B	0.5%	$5544.77	—	COM	277196101
—	Archrock Partners LP	84,282	$1.141B	0.5%	$16169.42	—	COM	03957u100
WMT	Wal-Mart	15,572	$1.137B	0.5%	$20.02	-2.5%	COM	931142103
CAT	Caterpillar	14,979	$1.136B	0.5%	$64.97	-7.9%	COM	149123101
—	Kimball Electronics	90,290	$1.124B	0.5%	$11930.00	—	COM	49428j109
—	Visa	15,010	$1.113B	0.5%	$209028.31	—	COM	92826c839
—	Spartan Motors	172,439	$1.079B	0.5%	$5662.03	—	COM	846819100
—	General Electric	33,487	$1.054B	0.5%	$23429.61	—	COM	369604103
—	Du Pont	16,236	$1.052B	0.4%	$56844.73	—	COM	263534109
—	Premier Financial	61,999	$1.045B	0.4%	$13217.83	—	COM	74050m105
—	Lannett Company	43,910	$1.045B	0.4%	$23790.00	—	COM	516012101
—	Hercules Offshore	748,258	$1.04B	0.4%	$2247.16	—	COM	427093307
—	Southeastern Bank Financial	21,541	$1.034B	0.4%	$22633.48	—	COM	841584105
—	Teekay LNG Partners	91,012	$1.024B	0.4%	$43562.55	—	COM	y8564m105
—	Verizon	18,316	$1.023B	0.4%	$49973.32	—	COM	92343v104
—	Alaska Communications	601,470	$1.022B	0.4%	$2357.67	—	COM	01167p101
—	Iridium Communications	114,709	$1.019B	0.4%	$7528.61	—	COM	46269c102
—	First Bancshares	58,581	$1.008B	0.4%	$14226.53	—	COM	318916103
ONB	Old National Bancorp	80,191	$1.005B	0.4%	$13.44	-5.8%	COM	680033107
—	EnLink Midstream LLC	63,036	$1.003B	0.4%	$30980.27	—	COM	29336t100
—	Masonite Int	14,782	$978M	0.4%	$50125.18	—	COM	575385109
—	Merck	16,894	$973M	0.4%	$49416.61	—	COM	58933y105
—	Iridium Communications	3,000	$973M	0.4%	$308000.00	—	CONV PREF	46269c409
—	Communications Sales	33,140	$958M	0.4%	$23708.35	—	COM	20341j104
TSBK	Timberland Bancorp	62,287	$934M	0.4%	$7.96	+31.8%	COM	887098101
—	MutualFirst Fin	33,929	$928M	0.4%	$15366.12	—	COM	62845b104
FCCO	First Community	65,905	$922M	0.4%	$8.74	+29.2%	COM	319835104
AXP	American Express	15,051	$914M	0.4%	$63.34	-12.8%	COM	025816109
MSFT	Microsoft	17,730	$907M	0.4%	$27.82	+65.3%	COM	594918104
LOCO	El Pollo Loco Holdings	68,690	$893M	0.4%	$12.57	-1.5%	COM	268603107
—	Invensense	925,000	$864M	0.4%	$918.75	—	CONV BOND	46123DAB2
—	Peoples Financial	80,948	$834M	0.4%	$11525.84	—	COM	71103b102
NKE	Nike	14,965	$826M	0.4%	$32.82	+53.3%	COM	654106103
—	Codorus Bancorp	40,060	$816M	0.3%	$19322.57	—	COM	192025104
—	Barnes & Noble	71,194	$808M	0.3%	$12019.99	—	COM	067774109
CIVB	Civista Bancshares	61,552	$806M	0.3%	$8.25	+10.3%	COM	178867107
—	MDC Holdings	33,052	$804M	0.3%	$29603.08	—	COM	552676108
PEBK	Peoples Bancorp of NC	40,941	$803M	0.3%	$14.22	+21.8%	COM	710577107
AAL	American Airlines Group	28,270	$800M	0.3%	$32.34	+0.3%	COM	02376R102
HVT	Haverty Furniture	43,985	$793M	0.3%	$21.46	-13.7%	COM	419596101
—	Cenveo Corp	890,000	$791M	0.3%	$1006.63	—	CONV BOND	15671BAJ0
UBOH	United Bancshares	43,199	$769M	0.3%	$14278.94	—	COM	909458101
—	Nicolet Bankshares	21,112	$768M	0.3%	$36369.98	—	COM	65406e102
—	McDermott	155,293	$767M	0.3%	$7010.04	—	COM	580037109
IBCP	Independent Bank Corp	52,057	$755M	0.3%	$4.96	+111.5%	COM	453838609
—	Kinder Morgan	39,887	$747M	0.3%	$39260.44	—	COM	49456b101
KO	Coca-Cola	16,426	$745M	0.3%	$27.92	+19.3%	COM	191216100
PFE	Pfizer	20,847	$734M	0.3%	$16.71	+26.0%	COM	717081103
—	Teekay Inc	96,552	$688M	0.3%	$45777.65	—	COM	y8564w103
—	RAIT Financial	760,000	$680M	0.3%	$951.63	—	CONV BOND	749227AB0
—	HMN Financial	48,590	$660M	0.3%	$7397.12	—	COM	40424g108
—	Two River Bancorp	60,111	$653M	0.3%	$9928.60	—	COM	90207c105
—	First South Bancorp	65,415	$611M	0.3%	$8612.74	—	COM	33646W100
—	AmeriServ	197,842	$597M	0.3%	$2893.69	—	COM	03074a102
RAIL	FreightCar America	41,649	$585M	0.3%	$21.22	-30.0%	COM	357023100
INTC	Intel	17,366	$570M	0.2%	$18.47	+36.0%	COM	458140100
—	Freddie Mac	147,667	$544M	0.2%	$3950.00	—	PREF STK	313400640
BAC	Bank of America	40,284	$535M	0.2%	$10.95	+3.5%	COM	060505104
FRME	First Merchants	20,569	$513M	0.2%	$11.95	+56.5%	COM	320817109
—	Astoria Financial	33,190	$509M	0.2%	$11743.63	—	COM	046265104
—	Arcbest Corp	31,202	$507M	0.2%	$40238.85	—	COM	03937c105
—	Rent-A-Center	38,150	$468M	0.2%	$25708.21	—	COM	76009n100
—	MainSource Financial	21,040	$464M	0.2%	$14221.96	—	COM	56062y102
—	Cisco Systems	15,871	$455M	0.2%	$24390.70	—	COM	17275r102
—	SunTrust Banks	10,487	$431M	0.2%	$33385.93	—	COM	867914103
—	SPDR S&P 600 Small Cap	4,298	$430M	0.2%	$107266.53	—	COM	78464a300
IYF	iShares DJ US Financial	4,774	$410M	0.2%	$81759.95	—	COM	464287788
ZION	Zions Bancorp	15,416	$387M	0.2%	$26.53	+0.0%	COM	989701107
UIS	Unisys	51,470	$375M	0.2%	$19.37	-60.4%	COM	909214306
CFG	Citizens Financial Group	18,705	$374M	0.2%	$16.09	-3.9%	COM	174610105
—	Central Valley Comm Bancorp	24,952	$349M	0.1%	$11423.23	—	COM	155685100
—	Xerium Technologies	51,648	$330M	0.1%	$9852.27	—	COM	98416j118
PAA	Plains All American Pipeline	11,693	$321M	0.1%	$55710.78	—	COM	726503105
—	Horsehead Holding	5,280,000	$317M	0.1%	$324.31	—	CONV BOND	440694AB3
MOFG	MidWest One Fin	10,964	$313M	0.1%	$24.61	+14.2%	COM	598511103
—	HopFed Bancorp	24,910	$289M	0.1%	$10965.46	—	COM	439734104
—	Navios Maritime Holdings	334,200	$271M	0.1%	$2235.81	—	COM	y62196103
C	Citigroup	6,357	$269M	0.1%	$34.17	-3.1%	COM	172967424
EEM	iShares MSCI Emerging Markets	7,615	$262M	0.1%	$43229.94	—	COM	464287234
FCF	First Commonwealth Financial	24,798	$228M	0.1%	$4.97	+32.1%	COM	319829107
FBNC	First Bancorp	12,608	$222M	0.1%	$11.04	+45.3%	COM	318910106
—	A T & T	5,029	$217M	0.1%	$35247.94	—	COM	00206r102
—	Windstream Holdings	22,499	$209M	0.1%	$6372.73	—	COM	97382a101
FITB	Fifth Third Bancorp	11,275	$198M	0.1%	$11.71	+8.9%	COM	316773100
—	Hawaiian Holdings	5,039	$191M	0.1%	$6275.29	—	COM	419879101
—	Energy Transfer Equity	13,142	$189M	0.1%	$38641.83	—	COM	29273v100
—	RAIT Financial Trust	54,800	$172M	0.1%	$4480.85	—	COM	749227609
TIP	iShares TIPS	1,400	$163M	0.1%	$112114.95	—	COM	464287176
BBT	Berkshire Hills Bancorp	5,944	$160M	0.1%	$18.37	+10.0%	COM	084680107
—	Energy Transfer Partners	4,186	$159M	0.1%	$51820.04	—	COM	29273R109
—	American Airlines Group	11,453	$130M	0.1%	$11389.94	—	COM	001765106
—	1st Constitution Bancorp	10,397	$125M	0.1%	$9894.17	—	COM	31986n102
FNB	FNB Corporation	8,444	$106M	0.0%	$7.90	+12.8%	COM	302520101
SCHO	Schwab Short-Term U.S. Treasury	2,077	$106M	0.0%	$50954.74	—	COM	808524862
—	Genco Shipping	166,604	$94.96M	0.0%	$570.00	—	COM	y2685t131
—	Cenveo	107,350	$87.59M	0.0%	$1929.80	—	COM	15670s105
F	Ford	5,696	$71.6M	0.0%	$9.18	-13.6%	COM	345370860
—	Transmontaigne Partners	1,625	$66.77M	0.0%	$42165.18	—	COM	89376v100
—	Altria Group	852	$58.74M	0.0%	$68944.84	—	COM	02209s103
—	DCB Financial	7,827	$55.18M	0.0%	$5299.99	—	COM	233075100
—	Alliance Resource Partners	3,300	$52.01M	0.0%	$58640.00	—	COM	01877r108
—	BB&T Corporation	1,443	$51.38M	0.0%	$34446.21	—	COM	054937107
—	Great Western Bancorp	1,490	$46.99M	0.0%	$31540.27	—	COM	391416104
—	WPX Energy	4,630	$43.1M	0.0%	$6989.42	—	COM	98212b103
—	Williams Partners	1,146	$39.7M	0.0%	$49491.04	—	COM	96950f104
—	Citigroup Inc	611,451	$35.95M	0.0%	$573.57	—	COM	172967226
—	Bank of America	29	$34.66M	0.0%	$1109103.50	—	CONV PREF	060505682
EZPW	EZCORP	4,560	$34.47M	0.0%	$5.57	+1.2%	COM	302301106
—	UBS ETRACS Alerian MLP	1,635	$32.65M	0.0%	$19970.03	—	COM	902641646
—	LGI Homes	1,000	$31.94M	0.0%	$24210.00	—	COM	50187t106
—	Teekay Tankers	10,000	$29.8M	0.0%	$6900.00	—	COM	y8565n102
—	Teekay Offshore Partners	4,757	$28.3M	0.0%	$32508.02	—	COM	y8565j101
—	QEP Resources	1,500	$26.45M	0.0%	$29788.70	—	COM	74733v100
—	EOG Resources	305	$25.44M	0.0%	$72763.98	—	COM	26875p101
—	Zions Bancorp	10,000	$21.6M	0.0%	$2370.00	—	COM	989701115
—	Yadkin Financial	833	$20.9M	0.0%	$14797.41	—	COM	984305102
—	ONEOK Partners	500	$20.03M	0.0%	$43496.49	—	COM	68268N103
—	Valeant Pharma	991	$19.96M	0.0%	$101683.80	—	COM	91911K102
—	A E S	375	$19.52M	0.0%	$50496.97	—	CONV PREF	00808n202
—	Atlas Energy Group	36,290	$19.05M	0.0%	$525.02	—	COM	04929q102
—	Umpqua Holdings	1,100	$17.02M	0.0%	$15010.00	—	COM	904214103
—	Bank of America	215,625	$16.75M	0.0%	$573.40	—	COM	060505153
IP	International Paper	365	$15.47M	0.0%	$22.81	+15.3%	COM	460146103
—	Southwestern Energy	1,205	$15.16M	0.0%	$22913.25	—	COM	845467109
—	Seagate Technology	600	$14.62M	0.0%	$24360.00	—	COM	G7945M107
—	AK Steel	3,000	$13.98M	0.0%	$4660.00	—	COM	001547108
AGM	Federal Agricultural Mortgage	400	$13.93M	0.0%	$23.58	+15.3%	COM	313148306
—	SM Energy	505	$13.63M	0.0%	$18740.59	—	COM	792228108
—	Capital Bank Financial	473	$13.62M	0.0%	$19019.03	—	COM	139794101
COFS	Choiceone Financial	576	$13.31M	0.0%	$9.50	+53.5%	COM	170386106
—	SUPERVALU	2,600	$12.27M	0.0%	$6231.04	—	COM	868536103
—	Southwest Bancorp	700	$11.85M	0.0%	$13200.00	—	COM	844767103
—	Navios Maritime Partners	9,000	$11.61M	0.0%	$14178.12	—	COM	y62267102
—	BNC Bancorp	500	$11.36M	0.0%	$11499.93	—	COM	05566t101
—	First Savings Financial	320	$11.05M	0.0%	$34540.63	—	COM	33621e109
—	Bank of America	3,000	$10.44M	0.0%	$3480.00	—	COM	060506146
—	Emerge Energy Services	850	$9.801M	0.0%	$4970.59	—	COM	29102H108
—	Sunoco Logistics Partners	320	$9.2M	0.0%	$25700.00	—	COM	86764l108
—	Banner Corp	200	$8.52M	0.0%	$33835.00	—	COM	06652v208
—	PetroQuest Energy	2,500	$8.325M	0.0%	$605.90	—	COM	716748108
—	DR Horton	250	$7.87M	0.0%	$28832.00	—	COM	23331a109
—	Alerian MLP	580	$7.378M	0.0%	$12720.69	—	COM	00162Q866
—	Colony Capital	400	$6.14M	0.0%	$15350.00	—	COM	19624r106
TOL	Toll Brothers	200	$5.382M	0.0%	$36.06	-22.1%	COM	889478103
—	Pioneer Energy Services	1,050	$4.83M	0.0%	$4600.00	—	COM	723664108
—	JP Morgan Chase	200	$4.05M	0.0%	$19330.00	—	COM	46634e114
—	United Community Banks	220	$4.024M	0.0%	$12814.59	—	COM	90984p303
WEBC	Webco Industries	100	$3.8M	0.0%	$39.92	0.0%	COM	947621207
—	Meritage Homes	100	$3.754M	0.0%	$41880.00	—	COM	59001a102
—	SunPower Corporation	236	$3.656M	0.0%	$22338.98	—	COM	867652406
HBAN	Huntington Bancshares	394	$3.521M	0.0%	$6.58	0.0%	COM	446150104
—	Boardwalk Pipeline	200	$3.49M	0.0%	$12980.00	—	COM	096627104
—	Alliance One	200	$3.08M	0.0%	$17560.00	—	COM	018772103
DAKT	Daktronics	350	$2.188M	0.0%	$6.60	0.0%	COM	234264109
—	Energy XXI	4,500	$1.8M	0.0%	$254049.17	—	CONV PREF	29274u309
—	First Niagara Financial	180	$1.753M	0.0%	$9959.81	—	COM	33582v108
—	Whiting Petroleum	150	$1.389M	0.0%	$7980.00	—	COM	966387102
—	Park Sterling Corp	164	$1.163M	0.0%	$6670.73	—	COM	70086y105
—	Sandridge Energy	9,240	$924K	0.0%	$95508.01	—	CONV PREF	80007p604
—	Kinder Morgan Inc.	7,140	$116K	0.0%	$3020.16	—	COM	49456b119
—	SandRidge Energy	89,507	$90,000	0.0%	$437.89	—	COM	80007p307
—	Genco Shipping	2,155	$78,000	0.0%	$410.21	—	COM	y2685t123