Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NGL	NGL Energy Partners	358,400	$8.1B	3.1%	$33279.47	—	COM	62913M107
—	SPDR Dow Jones Industrial Average	39,177	$8.084B	3.1%	$168152.42	—	COM	78467x109
—	Magellan Midstream LP	84,942	$6.533B	2.5%	$54940.09	—	COM	559080106
WMB	Williams Companies	210,698	$6.235B	2.4%	$19.80	-9.5%	COM	969457100
—	Rice Midstream Partners	226,248	$5.706B	2.2%	$16473.83	—	COM	762819100
—	QCR Holdings	117,069	$4.958B	1.9%	$16036.23	—	COM	74727a104
OKE	ONEOK Inc	83,736	$4.642B	1.8%	$21.15	+50.7%	COM	682680103
—	Targa Resources	75,483	$4.521B	1.7%	$46007.94	—	COM	87612g101
—	EnLink Midstream LP	226,701	$4.149B	1.6%	$29078.76	—	COM	29336u107
—	Alaska Communications	3,975,000	$4.124B	1.6%	$941.25	—	CONV BOND	01167pae1
—	Alliance Holdings GP	143,012	$3.923B	1.5%	$55822.59	—	COM	01861g100
—	Banc of California	188,127	$3.894B	1.5%	$13522.78	—	COM	05990k106
—	VTTI Energy Partners	188,619	$3.584B	1.4%	$23766.97	—	COM	y9384m101
—	MPLX LP	98,226	$3.544B	1.4%	$39437.91	—	COM	55336v100
—	Antero Midstream LP	105,225	$3.489B	1.3%	$27870.00	—	COM	03673l103
—	EZCorp Inc	3,730,000	$3.455B	1.3%	$716.21	—	CONV BOND	302301AB2
EPD	Enterprise Products Partners	118,139	$3.262B	1.3%	$32947.13	—	COM	293792107
GEL	Genesis LP	99,928	$3.24B	1.2%	$51394.89	—	COM	371927104
—	Goldman Sachs	13,806	$3.172B	1.2%	$163236.95	—	COM	38141g104
—	Holly Energy Partners	84,619	$3.022B	1.2%	$37150.52	—	COM	435763107
—	SB Financial Group	167,477	$2.8B	1.1%	$8527.03	—	COM	78408d105
—	Phillips 66 Partners	52,080	$2.674B	1.0%	$55708.51	—	COM	718549207
—	Shell Midstream LP	82,473	$2.658B	1.0%	$39381.44	—	COM	822634101
—	Teekay LNG	151,361	$2.656B	1.0%	$33127.35	—	COM	y8564m105
—	3M	13,826	$2.645B	1.0%	$116410.43	—	COM	88579y101
BA	Boeing	14,722	$2.604B	1.0%	$86.89	+82.7%	COM	097023105
—	Tesoro Logistics	45,087	$2.456B	0.9%	$45320.65	—	COM	88160T107
—	Titan Machinery	2,532,000	$2.425B	0.9%	$855.95	—	CONV BOND	88830RAB7
—	Wintrust Financial	1,405	$2.424B	0.9%	$1215261.90	—	CONV PREF	97650w306
IBM	IBM	13,828	$2.408B	0.9%	$117.36	-2.5%	COM	459200101
—	Macquarie Infrastructure	2,440,000	$2.392B	0.9%	$1002.85	—	CONV BOND	55608BAB1
—	Bunge Ltd	22,132	$2.374B	0.9%	$101898.09	—	CONV PREF	g16962204
—	Summit Financial	108,007	$2.326B	0.9%	$11259.59	—	COM	86606g101
—	UnitedHealth	13,952	$2.288B	0.9%	$69896.05	—	COM	91324p102
—	Prospect Capital	2,229,000	$2.254B	0.9%	$1026.36	—	CONV BOND	74348TAK8
—	KB HOME	2,160,000	$2.211B	0.9%	$1003.62	—	CONV BOND	48666KAS8
—	Broadsoft	1,950,000	$2.187B	0.8%	$1016.39	—	CONV BOND	11133BAB8
HD	Home Depot	14,520	$2.132B	0.8%	$57.74	+98.1%	COM	437076102
SFST	Southern First Bancshares	64,311	$2.1B	0.8%	$12.67	+169.6%	COM	842873101
—	Iridium Communications	19,471	$2.098B	0.8%	$67435.05	—	CONV PREF	46269c508
AAPL	Apple	14,532	$2.088B	0.8%	$26.84	+13.4%	COM	037833100
CVX	Chevron	19,025	$2.043B	0.8%	$72.40	+6.0%	COM	166764100
—	Blucora Inc	2,020,000	$2.034B	0.8%	$943.91	—	CONV BOND	095229AB6
—	Delek Logistics LP	60,406	$2.012B	0.8%	$28868.41	—	COM	24664t103
JNJ	Johnson and Johnson	16,069	$2.001B	0.8%	$67.93	+37.5%	COM	478160104
—	Atlas Air Worldwide	1,845,000	$1.957B	0.8%	$813.71	—	CONV BOND	049164BH8
—	Navistar	2,020,000	$1.954B	0.8%	$934.77	—	CONV BOND	63934eaq1
MCD	McDonald's	14,966	$1.94B	0.7%	$71.62	+42.0%	COM	580135101
—	Quidel Corp	1,870,000	$1.916B	0.7%	$995.76	—	CONV BOND	74838JAA9
—	Greenbriar	1,487,000	$1.915B	0.7%	$1067.14	—	CONV BOND	393657AH4
—	A. Schulmann & Co	2,025	$1.873B	0.7%	$873174.30	—	CONV PREF	808194302
—	Plains GP Holdings	59,186	$1.85B	0.7%	$34472.79	—	COM	72651a207
—	Aircastle LTD	73,056	$1.763B	0.7%	$16175.46	—	COM	g0129k104
—	General Cable	2,165,000	$1.667B	0.6%	$1087.13	—	CONV BOND	369300al2
—	The Travelers Companies	13,765	$1.659B	0.6%	$82914.17	—	COM	89417e109
NMIH	NMI Holdings	144,855	$1.651B	0.6%	$8.84	+24.0%	COM	629209305
DIS	Walt Disney	14,364	$1.629B	0.6%	$61.58	+67.3%	COM	254687106
—	JPMorgan	17,883	$1.571B	0.6%	$54066.50	—	COM	46625h100
—	First Bancshares	55,491	$1.554B	0.6%	$14411.45	—	COM	318916103
—	Eastern Virginia Bankshares	147,995	$1.551B	0.6%	$5650.58	—	COM	277196101
—	United Technologies	13,697	$1.537B	0.6%	$95947.12	—	COM	913017109
CIVB	Civista Bancshares	68,881	$1.526B	0.6%	$8.76	+96.1%	COM	178867107
—	Archrock Partners	86,337	$1.482B	0.6%	$16201.89	—	COM	03957u100
—	Kimball Electronics	84,055	$1.425B	0.5%	$11930.00	—	COM	49428j109
—	Exxon Mobil	17,367	$1.424B	0.5%	$91246.90	—	COM	30231g102
—	Premier Financial	66,428	$1.397B	0.5%	$14020.36	—	COM	74050m105
PG	Procter & Gamble	15,404	$1.384B	0.5%	$55.78	+25.5%	COM	742718109
—	Jefferies Group	1,367,000	$1.382B	0.5%	$1076.59	—	CONV BOND	472319ag7
FCCO	First Community	61,490	$1.353B	0.5%	$8.74	+86.3%	COM	319835104
TSBK	Timberland Bancorp	59,422	$1.331B	0.5%	$7.96	+99.6%	COM	887098101
—	Sunpower	1,750,000	$1.317B	0.5%	$802.11	—	CONV BOND	867652AJ8
ONB	Old National Bancorp	75,404	$1.308B	0.5%	$13.44	+33.0%	COM	680033107
CAT	Caterpillar Inc	13,839	$1.284B	0.5%	$64.97	+19.6%	COM	149123101
—	Visa	13,721	$1.219B	0.5%	$209028.31	—	COM	92826c839
—	EnLink Midstream LLC	62,078	$1.204B	0.5%	$30980.27	—	COM	29336t100
—	Royal Gold	1,135,000	$1.199B	0.5%	$967.31	—	CONV BOND	780287AA6
—	Superior Industries	47,214	$1.197B	0.5%	$17606.16	—	COM	868168105
AAL	American Airlines	28,270	$1.196B	0.5%	$32.34	+35.4%	COM	02376R102
—	Peoples Financial	78,770	$1.185B	0.5%	$11639.32	—	COM	71103b102
—	du Pont	14,522	$1.167B	0.4%	$56844.73	—	COM	263534109
—	Teekay	127,152	$1.163B	0.4%	$36880.43	—	COM	y8564w103
—	Iridium Communications	120,287	$1.161B	0.4%	$7628.31	—	COM	46269c102
—	Alaska Communications	624,500	$1.155B	0.4%	$2338.37	—	COM	01167p101
PEBK	Peoples Bancorp	38,771	$1.151B	0.4%	$14.43	+70.0%	COM	710577107
AXP	American Express	13,738	$1.087B	0.4%	$63.34	+9.2%	COM	025816109
—	Two River Bancorp	61,416	$1.085B	0.4%	$10127.01	—	COM	90207c105
—	McDermott International	159,353	$1.076B	0.4%	$6999.72	—	COM	580037109
MSFT	Microsoft	16,301	$1.074B	0.4%	$27.82	+108.0%	COM	594918104
—	Global Eagle Entertainment	2,110,000	$1.063B	0.4%	$788.36	—	CONV BOND	37951DAB8
IBCP	Independent Bank Corp	50,270	$1.041B	0.4%	$4.96	+207.7%	COM	453838609
—	MDC Holdings	34,606	$1.04B	0.4%	$29372.51	—	COM	552676108
—	Iridium Communications	3,000	$1.035B	0.4%	$308000.00	—	CONV PREF	46269c409
WMT	Wal-Mart	14,343	$1.034B	0.4%	$20.02	-1.2%	COM	931142103
—	Lannett Company	45,507	$1.017B	0.4%	$23812.26	—	COM	516012101
—	MutualFirst Financial	31,826	$1.004B	0.4%	$15366.12	—	COM	62845b104
—	Codorus Bancorp	38,736	$1.004B	0.4%	$19760.02	—	COM	192025104
—	PetroQuest Energy	65,687	$999M	0.4%	$32227.66	—	CONV PREF	716748207
HVT	Haverty Furniture	40,880	$995M	0.4%	$21.46	+6.8%	COM	419596101
—	Merck	15,477	$983M	0.4%	$49416.61	—	COM	58933y105
—	Triumph Group	37,405	$963M	0.4%	$25750.01	—	COM	896818101
BAC	Bank of America	40,612	$958M	0.4%	$10.95	+77.0%	COM	060505104
—	General Electric	31,590	$941M	0.4%	$23429.61	—	COM	369604103
—	Nicolet Bankshares	19,675	$925M	0.4%	$36369.98	—	COM	65406e102
—	HMN Financial	49,975	$902M	0.3%	$7740.79	—	COM	40424g108
—	First United Corp	61,931	$898M	0.3%	$14938.44	—	COM	33741h107
PKBK	Parke Bancorp	41,936	$895M	0.3%	$8.59	+48.1%	COM	700885106
—	First South Bancorp	73,730	$894M	0.3%	$8998.15	—	COM	33646W100
UBOH	United Bancshares	42,138	$877M	0.3%	$14512.17	—	COM	909458101
—	Cenveo Corp	875,000	$875M	0.3%	$1006.63	—	CONV BOND	15671BAJ0
—	Uniti Group	33,140	$857M	0.3%	$25850.00	—	COM	91325v108
—	Freddie Mac	148,300	$801M	0.3%	$3950.00	—	PREF STK	313400640
—	Verizon	16,293	$794M	0.3%	$49973.32	—	COM	92343v104
—	Invensense	795,000	$793M	0.3%	$918.75	—	CONV BOND	46123DAB2
—	Arcbest	30,492	$793M	0.3%	$40238.85	—	COM	03937c105
—	Sunpower Corp	1,000,000	$782M	0.3%	$713.13	—	CONV BOND	867652AL3
LOCO	El Pollo Loco Holdings	64,790	$774M	0.3%	$12.57	-2.4%	COM	268603107
UIS	Unisys Corp	55,410	$773M	0.3%	$18.88	-26.6%	COM	909214306
NKE	Nike	13,739	$766M	0.3%	$32.82	+50.1%	COM	654106103
—	Kinder Morgan	32,859	$714M	0.3%	$38825.42	—	COM	49456b101
—	AmeriServ Financial	186,769	$700M	0.3%	$2922.09	—	COM	03074a102
PFE	Pfizer	19,661	$673M	0.3%	$16.71	+28.1%	COM	717081103
—	Contura Energy	10,100	$671M	0.3%	$42039.61	—	COM	21241b100
—	Essa Bancorp	45,130	$658M	0.3%	$14579.99	—	COM	29667d104
KO	Coca-Cola	15,106	$641M	0.2%	$27.92	+12.9%	COM	191216100
—	Navios Maritime Holdings	334,400	$625M	0.2%	$2235.81	—	COM	y62196103
ZION	Zions Bancorp	14,746	$619M	0.2%	$26.92	+61.4%	COM	989701107
—	Barnes & Noble	64,457	$596M	0.2%	$12019.99	—	COM	067774109
—	Astoria Financial	28,935	$593M	0.2%	$11743.63	—	COM	046265104
—	Homestreet	21,200	$593M	0.2%	$27950.00	—	COM	43785u102
—	RAIT Financial	610,000	$584M	0.2%	$951.63	—	CONV BOND	749227AB0
CFG	Citizens Financial Group	16,480	$569M	0.2%	$16.09	+60.3%	COM	174610105
C	Citigroup	9,464	$566M	0.2%	$37.50	+19.1%	COM	172967424
INTC	Intel	15,556	$561M	0.2%	$18.47	+60.7%	COM	458140100
—	SunTrust	9,992	$553M	0.2%	$33385.93	—	COM	867914103
—	Central Valley Community Bancorp	24,942	$511M	0.2%	$11423.23	—	COM	155685100
—	Cisco Systems	14,803	$500M	0.2%	$24390.70	—	COM	17275r102
—	SPDR S&P 600 Small Cap	4,216	$498M	0.2%	$107266.53	—	COM	78464a300
IYF	iShares DJ US Financial	4,774	$497M	0.2%	$81759.95	—	COM	464287788
RAIL	FreightCar America	37,582	$471M	0.2%	$21.22	-34.0%	COM	357023100
HWBK	Hawthorn Bancshares	18,639	$393M	0.2%	$13.33	+32.5%	COM	420476103
—	Rent-A-Center	40,050	$355M	0.1%	$24153.81	—	COM	76009n100
MOFG	MidWest One Financial	10,229	$351M	0.1%	$24.61	+46.3%	COM	598511103
PAA	Plains All American LP	10,739	$339M	0.1%	$55710.78	—	COM	726503105
FBNC	First Bancorp	11,429	$335M	0.1%	$11.04	+121.6%	COM	318910106
—	Xerium Technologies	49,130	$314M	0.1%	$9852.27	—	COM	98416j118
—	HopFed Bancorp	21,681	$310M	0.1%	$10965.46	—	COM	439734104
EEM	iShares MSCI Emerging Markets	7,615	$300M	0.1%	$43229.94	—	COM	464287234
FCF	First Commonwealth Financial	22,538	$299M	0.1%	$4.97	+106.4%	COM	319829107
FITB	Fifth Third Bancorp	11,275	$286M	0.1%	$11.71	+65.0%	COM	316773100
—	Zions Bancorp	22,438	$258M	0.1%	$3301.27	—	COM	989701115
—	Energy Transfer Equity	12,781	$252M	0.1%	$38641.83	—	COM	29273v100
—	1st Constitution Bancorp	12,417	$229M	0.1%	$11326.63	—	COM	31986n102
—	Bank of America	18,000	$203M	0.1%	$4430.00	—	COM	060506146
—	A T & T	4,874	$203M	0.1%	$35247.94	—	COM	00206r102
—	Citigroup	1,375,040	$202M	0.1%	$326.45	—	COM	172967226
—	Genco Shipping & Trading	15,857	$198M	0.1%	$2615.22	—	COM	y2685t131
—	Bank of America Corp	215,625	$198M	0.1%	$573.40	—	COM	060505153
BBT	Berkshire Hills Bancorp	5,199	$187M	0.1%	$18.37	+47.9%	COM	084680107
—	First NBC Bank Holding	45,995	$184M	0.1%	$6693.75	—	COM	32115d106
—	RAIT Financial	54,800	$175M	0.1%	$4480.85	—	COM	749227609
TIP	iShares TIPS	1,392	$160M	0.1%	$112114.95	—	COM	464287176
—	Energy Transfer Partners	4,186	$153M	0.1%	$51820.04	—	COM	29273R109
CZWI	Citizens Community Bancorp	10,985	$152M	0.1%	$10.74	0.0%	COM	174903104
—	Hawaiian Holdings	3,180	$148M	0.1%	$6275.29	—	COM	419879101
—	Horsehead Holdings	3,704	$146M	0.1%	$1000.00	—	COM	44069P118
—	DCB Financial	7,827	$142M	0.1%	$5299.99	—	COM	233075100
FNB	FNB Corporation	8,444	$126M	0.0%	$7.90	+37.4%	COM	302520101
—	SemGroup	2,407	$86.65M	0.0%	$41152.89	—	COM	81663a105
—	Cenveo	15,555	$78.09M	0.0%	$1929.80	—	COM	15670s105
—	Alliance Resource LP	3,300	$71.44M	0.0%	$58640.00	—	COM	01877r108
F	Ford	5,714	$66.52M	0.0%	$9.18	-15.2%	COM	345370860
—	BB&T	1,443	$64.5M	0.0%	$34446.21	—	COM	054937107
—	WPX Energy	4,630	$61.99M	0.0%	$14568.90	—	COM	98212b103
—	Altria Group	854	$60.96M	0.0%	$67615.48	—	COM	02209s103
—	Williams Partners	1,471	$60.06M	0.0%	$40830.05	—	COM	96950f104
PM	Philip Morris International	462	$52.14M	0.0%	$65.59	0.0%	COM	718172109
EZPW	EZCORP	4,965	$40.47M	0.0%	$5.93	+54.6%	COM	302301106
MMLP	Martin Midstream LP	1,995	$39.9M	0.0%	$43099.80	—	COM	573331105
OLN	Olin	1,185	$38.94M	0.0%	$16.84	+39.3%	COM	680665205
—	Bank of America	29	$34.66M	0.0%	$1109103.50	—	CONV PREF	060505682
—	EOG Resources	336	$32.78M	0.0%	$74973.41	—	COM	26875p101
—	Jones Energy	600	$28.95M	0.0%	$48250.00	—	CONV PREF	48019R207
—	Seagate Technology	600	$27.56M	0.0%	$24360.00	—	COM	G7945M107
—	ONEOK Partners	500	$27M	0.0%	$43496.49	—	COM	68268N103
—	Teekay Offshore	4,757	$24.12M	0.0%	$32508.02	—	COM	y8565j101
AGM	Federal Agricultural Mortgage	400	$23.03M	0.0%	$23.58	+82.7%	COM	313148306
—	LGI Homes	600	$20.35M	0.0%	$24210.00	—	COM	50187t106
—	Umpqua Holdings	1,100	$19.51M	0.0%	$15010.00	—	COM	904214103
—	A E S	375	$19.16M	0.0%	$50496.97	—	CONV PREF	00808n202
—	QEP Resources	1,500	$19.07M	0.0%	$29788.70	—	COM	74733v100
—	Navios Maritime Acquisition	11,000	$18.92M	0.0%	$1417.27	—	COM	y62159101
—	BNC Bancorp	500	$17.52M	0.0%	$31900.00	—	COM	05566t101
MBWM	Mercantile Bank	501	$17.23M	0.0%	$13.04	+84.6%	COM	587376104
—	Navios Maritime Partners	8,200	$16.97M	0.0%	$14178.12	—	COM	y62267102
—	Spartan Motors	2,000	$16M	0.0%	$5662.03	—	COM	846819100
—	American Airlines	11,453	$15.92M	0.0%	$11389.94	—	COM	001765106
—	First Savings Financial	320	$15.59M	0.0%	$47000.00	—	COM	33621e109
COFS	Choiceone Financial	576	$13.26M	0.0%	$9.50	+60.6%	COM	170386106
—	Emerge Energy LP	850	$11.77M	0.0%	$4970.59	—	COM	29102H108
—	Banner Corp	200	$11.14M	0.0%	$33835.00	—	COM	06652v208
—	AK Steel	1,500	$10.79M	0.0%	$4660.00	—	COM	001547108
—	SUPERVALU	2,600	$10.04M	0.0%	$4670.00	—	COM	868536103
—	Southwestern Energy	1,205	$9.845M	0.0%	$22913.25	—	COM	845467109
—	DR Horton	250	$8.328M	0.0%	$28832.00	—	COM	23331a109
—	Sunoco Logistics	320	$7.814M	0.0%	$24018.75	—	COM	86764l108
TOL	Toll Brothers	200	$7.222M	0.0%	$36.06	-7.5%	COM	889478103
—	PetroQuest Energy	2,500	$6.85M	0.0%	$605.90	—	COM	716748108
—	United Community Banks	220	$6.092M	0.0%	$12814.59	—	COM	90984p303
—	Pioneer Energy Services	1,215	$4.86M	0.0%	$4000.00	—	COM	723664108
—	Meritage Homes	100	$3.68M	0.0%	$34800.00	—	COM	59001a102
—	Boardwalk Pipeline Partners	200	$3.662M	0.0%	$12980.00	—	COM	096627104
—	Cenveo	3,000	$3M	0.0%	$1006.25	—	CONV BOND	15671BAG6
—	Alliance One Int	200	$2.57M	0.0%	$19200.00	—	COM	018772103
—	Park Sterling	164	$2.019M	0.0%	$6670.73	—	COM	70086y105
—	SunPower	236	$1.44M	0.0%	$6101.69	—	COM	867652406
—	Genco Shipping	2,155	$323K	0.0%	$410.21	—	COM	y2685t123
—	Kinder Morgan	7,140	$17,000	0.0%	$3020.16	—	COM	49456b119