The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBOTT LABS COM 002824100 452 9,205 SH   SOLE   9,205 0 0
ABBVIE INC COM 00287Y109 567 8,443 SH   SOLE   8,443 0 0
ACETO CORP COM 004446100 3,284 133,345 SH   SOLE   133,345 0 0
ADDUS HOMECARE CORP COM 006739106 7,804 280,124 SH   SOLE   280,124 0 0
ADDVANTAGE TECHNOLOGIES GP INC COM NEW 006743306 597 256,293 SH   SOLE   256,293 0 0
AEP INDS INC COM 001031103 3,379 61,216 SH   SOLE   61,216 0 0
AEROCENTURY CORP COM 007737109 289 34,047 SH   SOLE   34,047 0 0
AG&E HLDGS INC COM 00108M102 328 394,908 SH   SOLE   394,908 0 0
AIR INDS GROUP COM NEW 00912N205 2,620 258,158 SH   SOLE   258,158 0 0
ALLIED HEALTHCARE PRODS INC COM 019222108 88 56,000 SH   SOLE   56,000 0 0
ALLIED MOTION TECHNOLOGIES INC COM 019330109 393 17,500 SH   SOLE   17,500 0 0
AMERICAN SOFTWARE INC CL A 029683109 4,969 523,009 SH   SOLE   523,009 0 0
AMERIPRISE FINANCIAL INC. COM 03076C106 423 3,385 SH   SOLE   3,385 0 0
AMGEN INC COM 031162100 546 3,557 SH   SOLE   3,557 0 0
AMREP CORP NEW COM 032159105 485 95,000 SH   SOLE   95,000 0 0
ARI NETWORK SVCS INC COM NEW 001930205 506 161,800 SH   SOLE   161,800 0 0
ASURE SOFTWARE INC COM 04649U102 770 126,883 SH   SOLE   126,883 0 0
AT&T INC COM 00206R102 504 14,180 SH   SOLE   14,180 0 0
ATLAS FINANCIAL HOLDINGS INC SHS NEW G06207115 10,340 521,450 SH   SOLE   521,450 0 0
AXT INC COM 00246W103 4,927 1,955,334 SH   SOLE   1,955,334 0 0
BALDWIN & LYONS INC CL B 057755209 4,604 200,000 SH   SOLE   200,000 0 0
BALLANTYNE STRONG INC COM 058516105 978 208,585 SH   SOLE   208,585 0 0
BANKWELL FINL GROUP INC COM 06654A103 3,068 172,100 SH   SOLE   172,100 0 0
BARD C R INC COM 067383109 673 3,940 SH   SOLE   3,940 0 0
BARRETT BUSINESS SERVICES INC COM 068463108 398 10,950 SH   SOLE   10,950 0 0
BEL FUSE INC CL B 077347300 4,544 221,426 SH   SOLE   221,426 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 3,902 137,000 SH   SOLE   137,000 0 0
BG STAFFING INC COM 05544A109 474 41,542 SH   SOLE   41,542 0 0
BIG 5 SPORTING GOODS CORP COM 08915P101 2,254 158,601 SH   SOLE   158,601 0 0
BIOSCRIP INC COM 09069N108 2,414 665,000 SH   SOLE   665,000 0 0
BIRNER DENTAL MGMT SERVICES COM NEW 091283200 631 48,500 SH   SOLE   48,500 0 0
BSQUARE CORP COM NEW 11776U300 678 100,000 SH   SOLE   100,000 0 0
CARLISLE COS INC COM 142339100 345 3,450 SH   SOLE   3,450 0 0
CECO ENVIRONMENTAL CORP COM 125141101 2,112 186,447 SH   SOLE   186,447 0 0
CENTURY CASINOS INC COM 156492100 7,261 1,152,500 SH   SOLE   1,152,500 0 0
CERAGON NETWORKS LTD ORD M22013102 2,559 2,225,480 SH   SOLE   2,225,480 0 0
CHARLES & COLVARD LTD COM 159765106 264 175,000 SH   SOLE   175,000 0 0
CHEROKEE INC DEL NEW COM 16444H102 5,263 186,767 SH   SOLE   186,767 0 0
CHRISTOPHER & BANKS CORP COM 171046105 2,233 556,800 SH   SOLE   556,800 0 0
CISCO SYS INC COM 17275R102 227 8,250 SH   SOLE   8,250 0 0
CITIGROUP INC COM NEW 172967424 239 4,325 SH   SOLE   4,325 0 0
CITY OFFICE REIT INC COM 178587101 3,861 311,386 SH   SOLE   311,386 0 0
COLGATE PALMOLIVE CO COM 194162103 465 7,105 SH   SOLE   7,105 0 0
COMFORT SYS USA INC COM 199908104 6,726 293,084 SH   SOLE   293,084 0 0
CONCURRENT COMPUTER CORP COM PAR $.01 206710402 589 95,000 SH   SOLE   95,000 0 0
CORE MOLDING TECHNOLOGIES INC COM 218683100 3,817 167,139 SH   SOLE   167,139 0 0
COWEN GROUP INC CL A 223622101 7,043 1,100,464 SH   SOLE   1,100,464 0 0
CPI AEROSTRUCTURES INC COM NEW 125919308 3,975 397,075 SH   SOLE   397,075 0 0
CROWN CRAFTS INC COM 228309100 513 64,100 SH   SOLE   64,100 0 0
CRYOLIFE INC COM 228903100 1,917 169,940 SH   SOLE   169,940 0 0
CSX CORP COM 126408103 681 20,850 SH   SOLE   20,850 0 0
CTI INDUSTRIES CORP COM NEW 125961300 667 184,400 SH   SOLE   184,400 0 0
CYBEROPTICS CORP COM 232517102 2,946 291,440 SH   SOLE   291,440 0 0
DATA I O CORP COM 237690102 617 180,478 SH   SOLE   180,478 0 0
DATALINK CORP COM 237934104 3,011 336,825 SH   SOLE   336,825 0 0
DAWSON GEOPHYSICAL CO COM 239359102 468 99,595 SH   SOLE   99,595 0 0
DELTA APPAREL INC COM 247368103 2,500 174,852 SH   SOLE   174,852 0 0
DHI GROUP INC COM 23331S100 3,934 442,500 SH   SOLE   442,500 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 4,890 629,290 SH   SOLE   629,290 0 0
DIGITAL TURBINE INC COM NEW 25400W102 544 180,008 SH   SOLE   180,008 0 0
DIVERSIFIED RSTRNT HLDGS INC COM 25532M105 2,086 560,705 SH   SOLE   560,705 0 0
DLH HLDGS CORP COM 23335Q100 757 290,000 SH   SOLE   290,000 0 0
DSP GROUP INC COM 23332B106 4,908 475,100 SH   SOLE   475,100 0 0
EBAY INC COM 278642103 778 12,910 SH   SOLE   12,910 0 0
EDGEWATER TECHNOLOGY INC COM 280358102 548 75,000 SH   SOLE   75,000 0 0
EMC INS GROUP INC COM 268664109 4,829 192,608 SH   SOLE   192,608 0 0
EMPIRE RES INC DEL COM 29206E100 398 98,209 SH   SOLE   98,209 0 0
ENNIS INC COM 293389102 3,387 182,202 SH   SOLE   182,202 0 0
ENSERVCO CORP COM 29358Y102 209 139,400 SH   SOLE   139,400 0 0
ENSIGN GROUP INC COM 29358P101 5,617 110,000 SH   SOLE   110,000 0 0
ENTERPRISE PRODS PARTNERS L P COM 293792107 430 14,400 SH   SOLE   14,400 0 0
EPIQ SYS INC COM 26882D109 4,797 284,177 SH   SOLE   284,177 0 0
EVOLVING SYS INC COM NEW 30049R209 1,208 134,822 SH   SOLE   134,822 0 0
EXACTECH INC COM 30064E109 4,149 199,172 SH   SOLE   199,172 0 0
EXXON MOBIL CORP COM 30231G102 776 9,329 SH   SOLE   9,329 0 0
FARMER BROS CO COM 307675108 3,644 155,055 SH   SOLE   155,055 0 0
FBR & CO COM NEW 30247C400 4,507 194,770 SH   SOLE   194,770 0 0
FEDERAL SIGNAL CORP COM 313855108 1,671 112,100 SH   SOLE   112,100 0 0
FEDEX CORP COM 31428X106 735 4,312 SH   SOLE   4,312 0 0
FIRST INTERNET BANCORP COM 320557101 686 28,000 SH   SOLE   28,000 0 0
FIVE STAR QUALITY CARE INC COM 33832D106 1,320 275,000 SH   SOLE   275,000 0 0
FLEXIBLE SOLUTIONS INTL INC COM 33938T104 615 300,000 SH   SOLE   300,000 0 0
FLEXSTEEL INDS INC COM 339382103 6,556 152,152 SH   SOLE   152,152 0 0
FOSTER L B CO COM 350060109 3,128 90,375 SH   SOLE   90,375 0 0
FUEL TECH INC COM 359523107 389 177,795 SH   SOLE   177,795 0 0
FURMANITE CORPORATION COM 361086101 3,816 470,000 SH   SOLE   470,000 0 0
GAMING PARTNERS INTL CORP COM 36467A107 334 33,058 SH   SOLE   33,058 0 0
GENCOR INDS INC COM 368678108 718 74,300 SH   SOLE   74,300 0 0
GENERAL ELECTRIC COM 369604103 496 18,651 SH   SOLE   18,651 0 0
GENERAL FIN CORP DEL COM 369822101 365 70,000 SH   SOLE   70,000 0 0
GENERAL MLS INC COM 370334104 410 7,350 SH   SOLE   7,350 0 0
GLOBAL BRASS & COPPR HLDGS INC COM 37953G103 5,038 296,178 SH   SOLE   296,178 0 0
GLOBAL CASH ACCESS HLDGS INC COM 378967103 5,573 720,000 SH   SOLE   720,000 0 0
GLOBALSCAPE INC COM 37940G109 954 290,000 SH   SOLE   290,000 0 0
GP STRATEGIES CORP COM 36225V104 6,222 187,193 SH   SOLE   187,193 0 0
HACKETT GROUP INC COM 404609109 708 52,700 SH   SOLE   52,700 0 0
HALLADOR ENERGY COMPANY COM 40609P105 2,767 331,755 SH   SOLE   331,755 0 0
HANESBRANDS INC COM 410345102 373 11,200 SH   SOLE   11,200 0 0
HARDINGE INC COM 412324303 443 45,000 SH   SOLE   45,000 0 0
HENNESSY ADVISORS INC COM 425885100 4,786 253,905 SH   SOLE   253,905 0 0
HILL INTERNATIONAL INC COM 431466101 9,393 1,785,750 SH   SOLE   1,785,750 0 0
HILLTOP HOLDINGS INC COM 432748101 3,242 134,582 SH   SOLE   134,582 0 0
HOME DEPOT COM 437076102 364 3,275 SH   SOLE   3,275 0 0
HONEYWELL INTL INC COM 438516106 408 4,000 SH   SOLE   4,000 0 0
HOOPER HOLMES INC COM 439104100 260 1,363,500 SH   SOLE   1,363,500 0 0
HOPFED BANCORP INC COM 439734104 592 50,000 SH   SOLE   50,000 0 0
HUDSON TECHNOLOGIES INC COM 444144109 5,873 1,682,850 SH   SOLE   1,682,850 0 0
HURCO COMPANIES INC COM 447324104 866 25,000 SH   SOLE   25,000 0 0
ILLINOIS TOOL WKS INC COM 452308109 525 5,725 SH   SOLE   5,725 0 0
INFORMATION SERVICES GROUP INC COM 45675Y104 825 172,500 SH   SOLE   172,500 0 0
INNODATA INC COM NEW 457642205 3,502 1,331,482 SH   SOLE   1,331,482 0 0
INTEGRATED SILICON SOLUTION COM 45812P107 5,349 241,603 SH   SOLE   241,603 0 0
INTEL CORP COM 458140100 387 12,735 SH   SOLE   12,735 0 0
INTEST CORP COM 461147100 788 180,700 SH   SOLE   180,700 0 0
INTL PAPER CO COM 460146103 231 4,860 SH   SOLE   4,860 0 0
INTUIT INC COM 461202103 285 2,830 SH   SOLE   2,830 0 0
IPASS INC COM 46261V108 2,834 2,699,333 SH   SOLE   2,699,333 0 0
ISHARES CORE S&P MID CAP ETF CORE S&P MCP ETA 464287507 2,921 19,473 SH   SOLE   19,473 0 0
ISHARES EUROPE ETF EUROPE ETF 464287861 2,014 46,051 SH   SOLE   46,051 0 0
ISHARES IBOXX HIGH YIELD ETF IBOXX HI YD ETF 464288513 2,277 25,639 SH   SOLE   25,639 0 0
ISHARES LATIN AMERICA 40 ETF LTN AMER 40 ETF 464287390 724 24,289 SH   SOLE   24,289 0 0
ISHARES MSCI EAFE ETF MSCI EAFE ETF 464287465 4,996 78,695 SH   SOLE   78,695 0 0
ISHARES MSCI EMG MKT ETF 464287234 3,251 82,066 SH   SOLE   82,066 0 0
ISHARES RUSSELL 2000 INDEX RUSSELL 2000 ETF 464287655 1,096 8,778 SH   SOLE   8,778 0 0
ISHARES S&P 500 GROWTH S&P 500 GRWT ETF 464287309 2,145 18,840 SH   SOLE   18,840 0 0
ISHARES S&P 500 INDEX CORE S&P500 ETF 464287200 207 1,000 SH   SOLE   1,000 0 0
ISHARES S&P 500 VALUE ETF S&P 500 VAL ETF 464287408 1,486 16,111 SH   SOLE   16,111 0 0
ISHARES S&P SMALLCAP 600 ETF CORE S&P SCP ETF 464287804 354 3,000 SH   SOLE   3,000 0 0
ITERIS INC COM 46564T107 637 360,000 SH   SOLE   360,000 0 0
JOHNSON & JOHNSON COM 478160104 499 5,119 SH   SOLE   5,119 0 0
JOHNSON CTLS INC COM 478366107 483 9,750 SH   SOLE   9,750 0 0
JONES LANG LASALLE INC COM 48020Q107 513 3,000 SH   SOLE   3,000 0 0
JPMORGAN CHASE & CO COM 46625H100 588 8,684 SH   SOLE   8,684 0 0
JUNIPER PHARMACEUTICALS INC COM 48203L107 1,440 157,382 SH   SOLE   157,382 0 0
KIMBERLY CLARK CORP COM 494368103 392 3,700 SH   SOLE   3,700 0 0
KINGSTONE COS INC COM 496719105 973 128,000 SH   SOLE   128,000 0 0
KIRKLANDS INC COM 497498105 5,520 198,050 SH   SOLE   198,050 0 0
KMG CHEMICALS INC COM 482564101 4,290 168,646 SH   SOLE   168,646 0 0
KRATOS DEFENSE & SEC SOLUTIONS COM NEW 50077B207 410 65,000 SH   SOLE   65,000 0 0
KROGER CO COM 501044101 415 5,725 SH   SOLE   5,725 0 0
KVH INDS INC COM 482738101 4,126 306,800 SH   SOLE   306,800 0 0
LADENBURG THALMAN FIN SVCS INC COM 50575Q102 40 11,300 SH   SOLE   11,300 0 0
LANDEC CORP COM 514766104 5,092 352,900 SH   SOLE   352,900 0 0
LGI HOMES INC COM 50187T106 435 22,000 SH   SOLE   22,000 0 0
LGL GROUP INC *W EXP 08/06/201 50186A116 0 239,000 SH   SOLE   239,000 0 0
LIBBEY INC COM 529898108 408 9,861 SH   SOLE   9,861 0 0
LIBERATOR MEDICAL HLDGS INC COM 53012L108 2,511 1,106,000 SH   SOLE   1,106,000 0 0
LIBERTY TAX INC CL A 53128T102 3,849 155,520 SH   SOLE   155,520 0 0
LIFEVANTAGE CORP COM 53222K106 475 896,000 SH   SOLE   896,000 0 0
LSI INDS INC COM 50216C108 4,943 529,202 SH   SOLE   529,202 0 0
MACYS INC COM 55616P104 784 11,615 SH   SOLE   11,615 0 0
MAGICJACK VOCALTEC LTD SHS M6787E101 557 75,000 SH   SOLE   75,000 0 0
MANITEX INTL INC COM 563420108 2,885 377,600 SH   SOLE   377,600 0 0
Matrix Service Company COM 576853105 3,488 190,800 SH   SOLE   190,800 0 0
MCKESSON CORP COM 58155Q103 907 4,033 SH   SOLE   4,033 0 0
MEDTRONIC PLC SHS G5960L103 337 4,551 SH   SOLE   4,551 0 0
MEETME INC COM 585141104 385 226,195 SH   SOLE   226,195 0 0
METALICO INC COM 591176102 595 1,166,600 SH   SOLE   1,166,600 0 0
MFRI INC COM 552721102 2,461 406,707 SH   SOLE   406,707 0 0
MILLER INDS INC TENN COM NEW 600551204 4,408 220,970 SH   SOLE   220,970 0 0
MITCHAM INDS INC COM 606501104 595 142,000 SH   SOLE   142,000 0 0
MONMOUTH REAL ESTATE INVT CORP CL A 609720107 4,089 420,673 SH   SOLE   420,673 0 0
MOTORCAR PTS AMER INC COM 620071100 6,695 222,511 SH   SOLE   222,511 0 0
NAPCO SEC TECHNOLOGIES INC COM 630402105 688 120,000 SH   SOLE   120,000 0 0
NEVADA GOLD & CASINOS INC COM NEW 64126Q206 578 350,000 SH   SOLE   350,000 0 0
NEWPARK RES INC COM PAR $.01 NEW 651718504 2,215 272,400 SH   SOLE   272,400 0 0
NEWTEK BUSINESS SVCS CORP COM NEW 652526203 7,210 406,884 SH   SOLE   406,884 0 0
NORTHERN TECH INTL CORP COM 665809109 3,949 245,300 SH   SOLE   245,300 0 0
NORTHWEST PIPE CO COM 667746101 3,149 154,592 SH   SOLE   154,592 0 0
NTN BUZZTIME INC COM NEW 629410309 164 706,805 SH   SOLE   706,805 0 0
NV5 HLDGS INC COM 62945V109 364 15,000 SH   SOLE   15,000 0 0
OMNOVA SOLUTIONS INC COM 682129101 3,138 419,017 SH   SOLE   419,017 0 0
1347 PPTY INS HLDGS INC COM 68244P107 533 65,443 SH   SOLE   65,443 0 0
OPPENHEIMER HLDGS INC CL A NON VOTING 683797104 6,205 236,129 SH   SOLE   236,129 0 0
ORACLE CORPORATION COM 68389X105 499 12,380 SH   SOLE   12,380 0 0
ORBIT INTL CORP COM NEW 685559304 564 190,000 SH   SOLE   190,000 0 0
ORCHIDS PAPER PRODS CO DEL COM 68572N104 5,627 233,793 SH   SOLE   233,793 0 0
PACIFIC PREMIER BANCORP COM 69478X105 933 55,000 SH   SOLE   55,000 0 0
PCM INC COM 69323K100 4,859 484,420 SH   SOLE   484,420 0 0
PC-TEL INC COM 69325Q105 4,388 611,200 SH   SOLE   611,200 0 0
PDF SOLUTIONS INC COM 693282105 2,813 175,800 SH   SOLE   175,800 0 0
PEOPLES BANCORP INC COM 709789101 2,612 111,900 SH   SOLE   111,900 0 0
PEPSICO INC COM 713448108 665 7,127 SH   SOLE   7,127 0 0
PERMIAN BASIN RTY TR UNIT BEN INT 714236106 81 10,000 SH   SOLE   10,000 0 0
PFIZER INC COM 717081103 578 17,231 SH   SOLE   17,231 0 0
PGT INC COM 69336V101 5,201 358,450 SH   SOLE   358,450 0 0
PHI INC COM NON VTG NON VTG 69336T205 3,883 129,349 SH   SOLE   129,349 0 0
PHOTRONICS INC COM 719405102 6,156 647,300 SH   SOLE   647,300 0 0
PHYSICIANS RLTY TR COM 71943U104 4,613 300,327 SH   SOLE   300,327 0 0
PIONEER PWR SOLUTIONS INC COM NEW 723836300 707 98,900 SH   SOLE   98,900 0 0
PNC FINL SVCS GROUP INC COM 693475105 230 2,400 SH   SOLE   2,400 0 0
POWERSHARES QQQ TR UNIT SER 1 73935A104 535 5,000 SH   SOLE   5,000 0 0
PRGX GLOBAL INC COM NEW 69357C503 2,743 624,748 SH   SOLE   624,748 0 0
PROCTER & GAMBLE CO COM 742718109 473 6,041 SH   SOLE   6,041 0 0
PROFESSIONAL DIVERSITY NET INC COM 74312Y103 421 203,200 SH   SOLE   203,200 0 0
PRUDENTIAL FINL INC COM 744320102 492 5,620 SH   SOLE   5,620 0 0
QUMU CORP COM 749063103 185 22,400 SH   SOLE   22,400 0 0
RCM TECHNOLOGIES INC COM NEW 749360400 3,419 604,072 SH   SOLE   604,072 0 0
REMY INTL INC NEW COM 75971M108 4,090 185,000 SH   SOLE   185,000 0 0
RICHARDSON ELECTRS LTD COM 763165107 404 50,000 SH   SOLE   50,000 0 0
RUDOLPH TECHNOLOGIES INC COM 781270103 4,715 392,609 SH   SOLE   392,609 0 0
S L INDS INC COM 784413106 1,049 27,173 SH   SOLE   27,173 0 0
SANFILIPPO JOHN B & SON INC COM 800422107 9,379 180,720 SH   SOLE   180,720 0 0
SCHNITZER STL INDS CL A 806882106 2,194 125,559 SH   SOLE   125,559 0 0
SHILOH INDS INC COM 824543102 1,343 103,688 SH   SOLE   103,688 0 0
SILVERCREST ASSET MGMT GROUP CL A 828359109 3,805 270,606 SH   SOLE   270,606 0 0
SIZMEK INC COM 83013P105 4,387 617,900 SH   SOLE   617,900 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 1,057 10,150 SH   SOLE   10,150 0 0
SMARTPROS LTD COM 83171G103 341 195,000 SH   SOLE   195,000 0 0
SORL AUTO PTS INC COM 78461U101 1,295 400,950 SH   SOLE   400,950 0 0
SOUTHWEST AIRLS CO COM 844741108 749 22,646 SH   SOLE   22,646 0 0
SPARTON CORP COM 847235108 3,259 119,300 SH   SOLE   119,300 0 0
SPDR GOLD ETF GOLD SHS 78463V107 686 6,109 SH   SOLE   6,109 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 4,548 22,096 SH   SOLE   22,096 0 0
STEALTHGAS INC SHS SHS Y81669106 3,051 451,988 SH   SOLE   451,988 0 0
STONERIDGE INC COM 86183P102 2,928 250,000 SH   SOLE   250,000 0 0
STRYKER CORP COM 863667101 675 7,062 SH   SOLE   7,062 0 0
SUPERIOR UNIFORM GP INC COM 868358102 2,491 150,630 SH   SOLE   150,630 0 0
SUPREME INDS INC CL A 868607102 1,028 120,000 SH   SOLE   120,000 0 0
SYNERON MEDICAL LTD ORD SHS M87245102 4,248 400,000 SH   SOLE   400,000 0 0
SYSTEMAX INC COM 871851101 2,924 338,400 SH   SOLE   338,400 0 0
TEXAS INSTRS INC COM 882508104 544 10,555 SH   SOLE   10,555 0 0
THESTREET.COM INC COM 88368Q103 634 350,000 SH   SOLE   350,000 0 0
3M CO COM 88579Y101 840 5,445 SH   SOLE   5,445 0 0
TOR MINERALS INTL INC COM NEW 890878309 361 57,828 SH   SOLE   57,828 0 0
TRANSCAT INC COM 893529107 491 51,953 SH   SOLE   51,953 0 0
TRECORA RES COM 894648104 2,847 188,525 SH   SOLE   188,525 0 0
TRINITY BIOTECH PLC SPON ADR NEW 896438306 4,615 255,559 SH   SOLE   255,559 0 0
TRISTATE CAP HLDGS INC COM 89678F100 5,498 425,250 SH   SOLE   425,250 0 0
TRIUMPH BANCORP INC COM 89679E300 3,616 274,980 SH   SOLE   274,980 0 0
U M H PROPERTIES INC COM 903002103 1,821 185,797 SH   SOLE   185,797 0 0
U.S. AUTO PARTS NETWORK INC COM 90343C100 440 200,000 SH   SOLE   200,000 0 0
ULTRALIFE CORP COM 903899102 503 120,000 SH   SOLE   120,000 0 0
UNITED INS HLDGS CORP COM 910710102 5,485 352,960 SH   SOLE   352,960 0 0
UNITEDHEALTH GROUP COM 91324P102 421 3,450 SH   SOLE   3,450 0 0
UNIVERSAL ELECTRS INC COM 913483103 4,525 90,800 SH   SOLE   90,800 0 0
URANIUM ENERGY CORP COM 916896103 429 270,000 SH   SOLE   270,000 0 0
USA TECHNOLOGIES INC COM NO PAR 90328S500 1,431 530,000 SH   SOLE   530,000 0 0
VAALCO ENERGY INC COM NEW 91851C201 1,559 728,300 SH   SOLE   728,300 0 0
VANGUARD FTSE DEV MKT ETF 921943858 202 5,085 SH   SOLE   5,085 0 0
VANGUARD HEALTH CARE HEALTH CAR ETF 92204A504 2,863 20,456 SH   SOLE   20,456 0 0
VANGUARD SHORT TERM BOND SHORT TRM BOND 921937827 2,534 31,599 SH   SOLE   31,599 0 0
VASCO DATA SEC INTL INC COM 92230Y104 3,523 116,700 SH   SOLE   116,700 0 0
VERITEX HLDGS INC COM 923451108 1,128 75,500 SH   SOLE   75,500 0 0
WAL MART COM 931142103 347 4,890 SH   SOLE   4,890 0 0
WEYCO GROUP INC COM 962149100 3,784 126,905 SH   SOLE   126,905 0 0
WHITESTONE REIT COM 966084204 4,381 336,467 SH   SOLE   336,467 0 0
WIDEPOINT CORP COM 967590100 301 180,000 SH   SOLE   180,000 0 0
WILLAMETTE VY VINEYARD INC COM 969136100 925 133,627 SH   SOLE   133,627 0 0
WILLDAN GROUP INC COM 96924N100 628 56,166 SH   SOLE   56,166 0 0
WISDOMTREE EUROPE SMCP DV 97717W869 1,438 25,162 SH   SOLE   25,162 0 0
WISDOMTREE LARGE CAP DIV LARGECAP DIVID 97717W307 2,258 31,144 SH   SOLE   31,144 0 0
XENITH BANKSHARES INC COM 98410X105 415 69,000 SH   SOLE   69,000 0 0
XPLORE TECHNOLOGIES CORP COM PAR $0.01 983950700 621 107,000 SH   SOLE   107,000 0 0
YUM! BRANDS INC COM 988498101 788 8,750 SH   SOLE   8,750 0 0
ZIX CORP COM 98974P100 5,233 1,012,243 SH   SOLE   1,012,243 0 0