Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Enbridge Energy	198,973	$8.801B	3.5%	$44230.00	—	COM	ckc50x106
—	SPDR Dow Jones Industrial Average	41,209	$7.532B	3.0%	$168152.42	—	COM	78467x109
NGL	NGL Energy Partners	356,315	$6.713B	2.6%	$33405.04	—	COM	62913M107
WMB	Williams Companies	210,273	$6.462B	2.5%	$19.80	-18.1%	COM	969457100
—	Magellan Midstream	87,132	$6.164B	2.4%	$54940.09	—	COM	559080106
OKE	ONEOK Inc	109,589	$5.632B	2.2%	$21.15	+26.4%	COM	682680103
—	Rice Midstream Partners	226,903	$5.505B	2.2%	$16473.83	—	COM	762819100
—	Alaska Communications	4,070,000	$3.999B	1.6%	$941.25	—	CONV BOND	01167pae1
—	EnLink Midstream Partners	223,931	$3.966B	1.6%	$29255.63	—	COM	29336u107
—	QCR Holdings	124,405	$3.949B	1.6%	$16036.23	—	COM	74727a104
—	EZCorp Inc	3,905,000	$3.824B	1.5%	$716.21	—	CONV BOND	302301AB2
GEL	Genesis Energy	98,618	$3.745B	1.5%	$51672.32	—	COM	371927104
—	Alliance Holding GP	142,292	$3.707B	1.5%	$55822.59	—	COM	01861g100
—	Targa Resources Corp	73,380	$3.604B	1.4%	$45184.28	—	COM	87612g101
—	MPLX	97,685	$3.308B	1.3%	$39473.11	—	COM	55336v100
EPD	Enterprise Products	116,579	$3.221B	1.3%	$33050.05	—	COM	293792107
—	VTTI Energy Partners	166,392	$3.163B	1.2%	$24572.80	—	COM	y9384m101
—	Banc of California	170,606	$2.979B	1.2%	$12859.73	—	COM	05990k106
—	AK Steel Corporation	2,415,000	$2.936B	1.2%	$1104.10	—	CONV BOND	001546ap5
—	Holly Energy Partners	84,223	$2.858B	1.1%	$37150.52	—	COM	435763107
—	Antero Midstream Partners	104,715	$2.796B	1.1%	$27870.00	—	COM	03673l103
—	Shell Midstream Partners	85,088	$2.73B	1.1%	$39381.44	—	COM	822634101
—	3M Co	15,070	$2.656B	1.0%	$116410.43	—	COM	88579y101
—	Broadsoft Inc	2,120,000	$2.611B	1.0%	$1016.39	—	CONV BOND	11133BAB8
—	Phillips 66 Partners	52,990	$2.575B	1.0%	$55758.88	—	COM	718549207
—	Goldman Sachs	14,918	$2.406B	0.9%	$163236.95	—	COM	38141g104
IBM	IBM	14,914	$2.369B	0.9%	$117.36	-13.3%	COM	459200101
—	Titan Machinery	2,692,000	$2.35B	0.9%	$855.95	—	CONV BOND	88830RAB7
—	Prospect Capital Corp	2,219,000	$2.267B	0.9%	$1026.36	—	CONV BOND	74348TAK8
—	KB HOME	2,330,000	$2.261B	0.9%	$1003.62	—	CONV BOND	48666KAS8
—	Bunge Ltd	23,397	$2.225B	0.9%	$101898.09	—	CONV PREF	g16962204
—	Summit Financial Group	114,175	$2.188B	0.9%	$11259.59	—	COM	86606g101
—	Newmont Mining	1,995,000	$2.181B	0.9%	$995.66	—	CONV BOND	651639AJ5
—	SB Financial Group	170,769	$2.169B	0.9%	$8434.42	—	COM	78408d105
—	Tesoro Logistics	44,494	$2.155B	0.8%	$45123.72	—	COM	88160T107
MBWM	Mercantile Bank Corp	79,583	$2.137B	0.8%	$13.04	+38.5%	COM	587376104
—	UnitedHealth Group	15,088	$2.112B	0.8%	$69896.05	—	COM	91324p102
—	Blucora Inc	2,180,000	$2.09B	0.8%	$943.91	—	CONV BOND	095229AB6
BA	Boeing	15,808	$2.083B	0.8%	$86.89	+39.0%	COM	097023105
JNJ	Johnson & Johnson	17,342	$2.049B	0.8%	$67.93	+37.8%	COM	478160104
—	Iridium Communications	20,881	$2.048B	0.8%	$67435.05	—	CONV PREF	46269c508
—	Navistar Intl Corp	2,145,000	$2.038B	0.8%	$934.77	—	CONV BOND	63934eaq1
HD	Home Depot	15,656	$2.015B	0.8%	$57.74	+84.2%	COM	437076102
—	Quidel Corp	1,985,000	$2.008B	0.8%	$994.96	—	CONV BOND	74838JAA9
—	Wintrust Financial	1,452	$2.001B	0.8%	$1215261.90	—	CONV PREF	97650w306
—	Atlas Air Worldwide Holdings	1,995,000	$1.938B	0.8%	$813.71	—	CONV BOND	049164BH8
SFST	Southern First Bancshares	69,191	$1.908B	0.8%	$12.67	+117.1%	COM	842873101
—	Plains GP Holdings	146,667	$1.898B	0.7%	$28195.61	—	COM	72651a108
MCD	McDonald's Corp	16,152	$1.863B	0.7%	$71.62	+32.0%	COM	580135101
CVX	Chevron Corporation	17,500	$1.801B	0.7%	$72.26	-5.2%	COM	166764100
AAPL	Apple	15,767	$1.782B	0.7%	$26.84	-9.7%	COM	037833100
—	Cenveo	1,752,000	$1.763B	0.7%	$1006.25	—	CONV BOND	15671BAG6
—	Greenbriar	1,537,000	$1.742B	0.7%	$1067.14	—	CONV BOND	393657AH4
—	Travelers Companies	14,905	$1.707B	0.7%	$82914.17	—	COM	89417e109
—	Delek Logistics Partners	58,550	$1.673B	0.7%	$28580.00	—	COM	24664t103
—	Spartan Motors	169,759	$1.626B	0.6%	$5662.03	—	COM	846819100
—	Exxon Mobil Corporation	18,453	$1.611B	0.6%	$91246.90	—	COM	30231g102
—	General Cable Corp	2,315,000	$1.525B	0.6%	$1087.13	—	CONV BOND	369300al2
—	United Technologies	14,833	$1.507B	0.6%	$95947.12	—	COM	913017109
PG	Procter & Gamble	16,657	$1.495B	0.6%	$55.78	+21.0%	COM	742718109
—	Aircastle LTD	74,657	$1.483B	0.6%	$16175.46	—	COM	g0129k104
—	Superior Industries	50,144	$1.462B	0.6%	$17606.16	—	COM	868168105
—	Royal Gold	1,295,000	$1.452B	0.6%	$966.12	—	CONV BOND	780287AA6
DIS	Disney	15,498	$1.439B	0.6%	$61.58	+44.3%	COM	254687106
—	Jefferies Group	1,362,000	$1.38B	0.5%	$1077.32	—	CONV BOND	472319ag7
—	Teekay LNG	91,142	$1.379B	0.5%	$43562.55	—	COM	y8564m105
—	PetroQuest Energy	72,622	$1.363B	0.5%	$32401.73	—	CONV PREF	716748207
CAT	Caterpillar	14,890	$1.322B	0.5%	$64.97	+1.6%	COM	149123101
—	Sunpower	1,735,000	$1.318B	0.5%	$802.11	—	CONV BOND	867652AJ8
—	Hercules Offshore	750,258	$1.298B	0.5%	$2247.16	—	COM	427093307
—	JPMorgan	19,049	$1.268B	0.5%	$54066.50	—	COM	46625h100
—	Kimball Electronics	89,475	$1.24B	0.5%	$11930.00	—	COM	49428j109
—	Archrock Partners LP	83,982	$1.236B	0.5%	$16169.42	—	COM	03957u100
—	Eastern Virginia Bankshares	152,668	$1.227B	0.5%	$5544.77	—	COM	277196101
—	Visa	14,833	$1.227B	0.5%	$209028.31	—	COM	92826c839
—	Lannett Company	44,665	$1.187B	0.5%	$23836.99	—	COM	516012101
ONB	Old National Bancorp	79,983	$1.125B	0.4%	$13.44	+0.4%	COM	680033107
WMT	Wal-Mart Stores	15,494	$1.117B	0.4%	$20.02	+2.9%	COM	931142103
—	First Bancshares	58,546	$1.11B	0.4%	$14226.53	—	COM	318916103
OLN	Olin Corp	52,550	$1.078B	0.4%	$16.84	-1.8%	COM	680665205
—	Du Pont	15,850	$1.061B	0.4%	$56844.73	—	COM	263534109
—	Premier Financial Bancorp	61,855	$1.06B	0.4%	$13217.83	—	COM	74050m105
—	EnLink Midstream LLC	62,926	$1.054B	0.4%	$30980.27	—	COM	29336t100
—	Communications Sales & Leasing	33,140	$1.041B	0.4%	$23708.35	—	COM	20341j104
—	Alaska Communications	603,735	$1.038B	0.4%	$2357.67	—	COM	01167p101
AAL	American Airlines Group	28,270	$1.035B	0.4%	$32.34	+5.2%	COM	02376R102
FCCO	First Community Corp	65,645	$1.034B	0.4%	$8.74	+35.0%	COM	319835104
—	Merck	16,508	$1.03B	0.4%	$49416.61	—	COM	58933y105
CIVB	Civista Bancshares	72,076	$1.022B	0.4%	$8.67	+28.9%	COM	178867107
—	Apollo Education Group	128,425	$1.021B	0.4%	$8225.82	—	COM	037604105
MSFT	Microsoft Corporation	17,612	$1.014B	0.4%	$27.82	+80.8%	COM	594918104
—	General Electric	33,221	$984M	0.4%	$23429.61	—	COM	369604103
TSBK	Timberland Bancorp	62,062	$977M	0.4%	$7.96	+42.1%	COM	887098101
AXP	American Express	14,874	$953M	0.4%	$63.34	-11.1%	COM	025816109
—	Iridium Communications	116,974	$949M	0.4%	$7539.86	—	COM	46269c102
—	Verizon Communications	18,179	$945M	0.4%	$49973.32	—	COM	92343v104
—	MutualFirst Financial	33,810	$938M	0.4%	$15366.12	—	COM	62845b104
—	Kinder Morgan	39,603	$916M	0.4%	$39260.44	—	COM	49456b101
—	Masonite International	14,702	$914M	0.4%	$50125.18	—	COM	575385109
—	Iridium Communications	3,000	$893M	0.4%	$308000.00	—	CONV PREF	46269c409
—	Invensense	915,000	$876M	0.3%	$918.75	—	CONV BOND	46123DAB2
—	Codorus Bancorp	39,952	$874M	0.3%	$19322.57	—	COM	192025104
HVT	Haverty Furniture	43,530	$872M	0.3%	$21.46	-8.8%	COM	419596101
IBCP	Independent Bank Corp	51,798	$872M	0.3%	$4.96	+127.8%	COM	453838609
—	Peoples Financial	81,291	$867M	0.3%	$11525.84	—	COM	71103b102
LOCO	El Pollo Loco Holdings	68,595	$864M	0.3%	$12.57	+6.7%	COM	268603107
UBOH	United Bancshares	43,065	$861M	0.3%	$14278.94	—	COM	909458101
PEBK	Peoples Bancorp of NC	40,941	$860M	0.3%	$14.22	+31.1%	COM	710577107
—	MDC Holdings	32,702	$844M	0.3%	$29603.08	—	COM	552676108
—	Cenveo	880,000	$830M	0.3%	$1006.63	—	CONV BOND	15671BAJ0
—	Barnes & Noble	71,764	$811M	0.3%	$12019.99	—	COM	067774109
—	Nicolet Bankshares	21,052	$795M	0.3%	$36369.98	—	COM	65406e102
NKE	Nike	14,881	$783M	0.3%	$32.82	+52.3%	COM	654106103
—	McDermott International	154,678	$775M	0.3%	$7010.04	—	COM	580037109
—	Sunpower Corp	1,000,000	$761M	0.3%	$761.25	—	CONV BOND	867652AK5
—	Teekay Inc	98,247	$757M	0.3%	$45120.89	—	COM	y8564w103
—	HMN Financial	48,275	$705M	0.3%	$7397.12	—	COM	40424g108
PFE	Pfizer	20,727	$702M	0.3%	$16.71	+33.2%	COM	717081103
—	Two River Bancorp	59,911	$690M	0.3%	$9928.60	—	COM	90207c105
—	RAIT Financial	745,000	$684M	0.3%	$951.63	—	CONV BOND	749227AB0
KO	Coca-Cola Company	16,042	$679M	0.3%	$27.92	+16.6%	COM	191216100
—	AmeriServ Financial	197,334	$655M	0.3%	$2893.69	—	COM	03074a102
—	First South Bancorp	65,215	$649M	0.3%	$8612.74	—	COM	33646W100
INTC	Intel	16,892	$638M	0.3%	$18.47	+55.0%	COM	458140100
BAC	Bank of America	40,612	$636M	0.3%	$10.95	+10.2%	COM	060505104
PKBK	Parke Bancorp	40,536	$611M	0.2%	$8.54	0.0%	COM	700885106
RAIL	FreightCar America	41,999	$604M	0.2%	$21.22	-32.8%	COM	357023100
—	Arcbest Corp	31,077	$591M	0.2%	$40238.85	—	COM	03937c105
FRME	First Merchants Corp	20,569	$550M	0.2%	$11.95	+67.2%	COM	320817109
—	MainSource Financial	21,041	$525M	0.2%	$14221.96	—	COM	56062y102
UIS	Unisys Corp	53,075	$517M	0.2%	$19.06	-51.3%	COM	909214306
—	Cisco Systems	15,694	$498M	0.2%	$24390.70	—	COM	17275r102
—	Rent-A-Center	38,750	$490M	0.2%	$25505.86	—	COM	76009n100
—	Astoria Financial	33,190	$485M	0.2%	$11743.63	—	COM	046265104
ZION	Zions Bancorp	15,351	$476M	0.2%	$26.53	+7.1%	COM	989701107
CFG	Citizens Financial Group	18,595	$459M	0.2%	$16.09	+0.1%	COM	174610105
—	SunTrust Banks	10,487	$459M	0.2%	$33385.93	—	COM	867914103
—	SPDR S&P 600 Small Cap Value ETF	4,258	$457M	0.2%	$107266.53	—	COM	78464a300
IYF	iShares DJ US Financial Sector	4,774	$430M	0.2%	$81759.95	—	COM	464287788
—	Contura Energy	10,000	$418M	0.2%	$41750.00	—	COM	21241b100
—	Xerium Technologies	51,328	$408M	0.2%	$9852.27	—	COM	98416j118
—	Navios Maritime Holdings	334,200	$404M	0.2%	$2235.81	—	COM	y62196103
—	Central Valley Community Bancorp	24,952	$396M	0.2%	$11423.23	—	COM	155685100
—	Freddie Mac	148,300	$356M	0.1%	$3950.00	—	PREF STK	313400640
PAA	Plains All American Pipeline	11,293	$355M	0.1%	$55710.78	—	COM	726503105
MOFG	MidWest One Financial	10,964	$333M	0.1%	$24.61	+20.0%	COM	598511103
C	Citigroup	6,464	$305M	0.1%	$34.17	-0.1%	COM	172967424
EEM	iShares MSCI Emerging Markets	7,615	$285M	0.1%	$43229.94	—	COM	464287234
—	HopFed Bancorp	24,860	$278M	0.1%	$10965.46	—	COM	439734104
FCF	First Commonwealth Financial	24,798	$250M	0.1%	$4.97	+44.7%	COM	319829107
FBNC	First Bancorp	12,489	$247M	0.1%	$11.04	+43.9%	COM	318910106
—	Hawaiian Holdings	5,039	$245M	0.1%	$6275.29	—	COM	419879101
FITB	Fifth Third Bancorp	11,275	$231M	0.1%	$11.71	+18.1%	COM	316773100
—	Energy Transfer Equity	12,755	$214M	0.1%	$38641.83	—	COM	29273v100
—	A T & T	5,024	$204M	0.1%	$35247.94	—	COM	00206r102
—	RAIT Financial	54,800	$185M	0.1%	$4480.85	—	COM	749227609
BBT	Berkshire Hills Bancorp	5,944	$165M	0.1%	$18.37	+12.7%	COM	084680107
TIP	iShares Barclays TIPS Bond	1,402	$163M	0.1%	$112114.95	—	COM	464287176
—	Energy Transfer Partners	4,186	$155M	0.1%	$51820.04	—	COM	29273R109
—	1st Constitution Bancorp.	10,397	$143M	0.1%	$9894.17	—	COM	31986n102
—	American Airlines Group Inc	11,453	$130M	0.1%	$11389.94	—	COM	001765106
—	Cenveo	15,555	$110M	0.0%	$1929.80	—	COM	15670s105
SCHO	Schwab Short-Term U.S. Treasury ETF	2,102	$107M	0.0%	$50952.80	—	COM	808524862
FNB	FNB Corporation	8,444	$104M	0.0%	$7.90	+8.7%	COM	302520101
HWBK	Hawthorn Bancshares	6,190	$94.4M	0.0%	$12.59	0.0%	COM	420476103
—	First United Corp	7,468	$92.45M	0.0%	$12380.02	—	COM	33741h107
—	Zions Bancorp	22,438	$90.87M	0.0%	$3301.27	—	COM	989701115
—	Bank of America	18,000	$83.16M	0.0%	$4430.00	—	COM	060506146
—	Alliance Resource Partners	3,300	$73.19M	0.0%	$58640.00	—	COM	01877r108
F	Ford	5,702	$68.83M	0.0%	$9.18	-16.3%	COM	345370860
—	Transmontaigne Partners	1,625	$67.05M	0.0%	$42165.18	—	COM	89376v100
—	DCB Financial	7,827	$59.88M	0.0%	$5299.99	—	COM	233075100
—	BB&T Corporation	1,443	$54.43M	0.0%	$34446.21	—	COM	054937107
—	Horsehead Holding	5,270,000	$52.7M	0.0%	$324.31	—	CONV BOND	440694AB3
—	Genco Shipping	11,081	$50.75M	0.0%	$570.00	—	COM	y2685t131
EZPW	EZCORP	4,560	$50.43M	0.0%	$5.57	+73.4%	COM	302301106
—	Williams Partners	1,146	$42.62M	0.0%	$49491.04	—	COM	96950f104
—	Citigroup Inc	772,183	$40.31M	0.0%	$465.05	—	COM	172967226
MMLP	Martin Midstream Partners	1,995	$39.98M	0.0%	$43099.80	—	COM	573331105
—	Bank of America	29	$35.4M	0.0%	$1109103.50	—	CONV PREF	060505682
—	EOG Resources	336	$32.49M	0.0%	$74973.41	—	COM	26875p101
—	Teekay Offshore	4,757	$30.06M	0.0%	$32508.02	—	COM	y8565j101
—	QEP Resources	1,500	$29.3M	0.0%	$29788.70	—	COM	74733v100
—	Teekay Tankers	10,000	$25.3M	0.0%	$6900.00	—	COM	y8565n102
—	Seagate Technology	600	$23.13M	0.0%	$24360.00	—	COM	G7945M107
—	LGI Homes	600	$22.1M	0.0%	$24210.00	—	COM	50187t106
—	Yadkin Financial	833	$21.9M	0.0%	$14797.41	—	COM	984305102
—	Bank of America	215,625	$21.56M	0.0%	$573.40	—	COM	060505153
—	ONEOK Partners	500	$19.98M	0.0%	$43496.49	—	COM	68268N103
—	A E S TRUST	375	$19.13M	0.0%	$50496.97	—	CONV PREF	00808n202
—	Southwestern Energy Company	1,205	$16.68M	0.0%	$22913.25	—	COM	845467109
—	Umpqua Holdings	1,100	$16.55M	0.0%	$15010.00	—	COM	904214103
AGM	Federal Agricultural Mortgage	400	$15.8M	0.0%	$23.58	+22.5%	COM	313148306
COFS	Choiceone Financial Services	576	$12.85M	0.0%	$9.50	+52.2%	COM	170386106
—	Navios Maritime Partners	9,000	$12.51M	0.0%	$14178.12	—	COM	y62267102
—	Navios Maritime Acquisition	9,000	$12.15M	0.0%	$1350.00	—	COM	y62159101
—	Cal Dive International	4,550,000	$11.38M	0.0%	$2.50	—	CONV BOND	12802TAB7
—	Emerge Energy Services	850	$11.08M	0.0%	$4970.59	—	COM	29102H108
—	AK Steel	2,000	$9.66M	0.0%	$4660.00	—	COM	001547108
—	Banner Corp	200	$8.76M	0.0%	$33835.00	—	COM	06652v208
—	PetroQuest Energy	2,500	$8.65M	0.0%	$605.90	—	COM	716748108
—	DR Horton	250	$7.55M	0.0%	$28832.00	—	COM	23331a109
TOL	Toll Brothers	200	$5.972M	0.0%	$36.06	-19.9%	COM	889478103
—	Windstream Holdings	500	$5.025M	0.0%	$6372.73	—	COM	97382a101
—	JP Morgan Chase	200	$4.926M	0.0%	$19330.00	—	COM	46634e114
—	United Community Banks	220	$4.624M	0.0%	$12814.59	—	COM	90984p303
—	Pioneer Energy Services	1,050	$4.242M	0.0%	$4600.00	—	COM	723664108
—	Southwest Bancorp	200	$3.798M	0.0%	$13200.00	—	COM	844767103
—	Boardwalk Pipeline Partners	200	$3.432M	0.0%	$12980.00	—	COM	096627104
—	Capital Bank Financial	98	$3.147M	0.0%	$19019.03	—	COM	139794101
—	Park Sterling	164	$1.332M	0.0%	$6670.73	—	COM	70086y105
—	Genco Shipping	2,155	$108K	0.0%	$410.21	—	COM	y2685t123
—	Kinder Morgan Inc	7,140	$107K	0.0%	$3020.16	—	COM	49456b119