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
A H BELO CORP COM CL A COMMON STOCK 001282102 5,282 943,200 SH   SOLE   943,200 0 0
ACCENTURE PLC CLS A USD0.00002 COMMON STOCK g1151c101 3,105 32,082 SH   SOLE   32,082 0 0
AGILYSYS INC COMMON STOCK 00847J105 2,019 219,967 SH   SOLE   219,967 0 0
ALAMO GROUP INC COMMON STOCK 011311107 6,121 112,025 SH   SOLE   112,025 0 0
ALCENTRA CAP CORP COM ISIN#US0 COMMON STOCK 01374t102 2,998 236,047 SH   SOLE   236,047 0 0
ALPINE TOTAL DYNAMIC DIVIDFD C COMMON STOCK 021060207 2,376 275,033 SH   SOLE   275,033 0 0
ALTISOURCE RESIDENTIALCORP COM COMMON STOCK 02153w100 3,555 210,964 SH   SOLE   210,964 0 0
AMERCO COM COMMON STOCK 023586100 7,274 22,252 SH   SOLE   22,252 0 0
AMERIPRISE FINL INC COM COMMON STOCK 03076c106 4,154 33,247 SH   SOLE   33,247 0 0
ARBOR RLTY TR INC COMMON STOCK 038923108 7,924 1,172,190 SH   SOLE   1,172,190 0 0
ARC DOCUMENT SOLUTIONSINC COM COMMON STOCK 00191g103 6,888 905,102 SH   SOLE   905,102 0 0
ARES COML REAL ESTATECORP COM COMMON STOCK 04013v108 3,116 273,614 SH   SOLE   273,614 0 0
ASCENT CAP GROUP INC COMSER A COMMON STOCK 043632108 4,175 97,687 SH   SOLE   97,687 0 0
AWARE INC COMMON STOCK 05453N100 2,514 623,917 SH   SOLE   623,917 0 0
BLACKROCK CAPITAL INVESTMENTC COMMON STOCK 092533108 6,323 691,785 SH   SOLE   691,785 0 0
BLACKROCK MUN TARGET TERMTR CO COMMON STOCK 09257p105 2,945 145,264 SH   SOLE   145,264 0 0
BLACKROCK RES &COMM STRATTR SH COMMON STOCK 09257a108 7,096 778,031 SH   SOLE   778,031 0 0
BLACKSTONE GSO STRATEGICCR FD COMMON STOCK 09257r101 5,792 370,544 SH   SOLE   370,544 0 0
BLACKSTONE MTG TR INCCOM CL A Miscellaneous 09257w100 5,144 184,904 SH   SOLE   184,904 0 0
BLACKSTONE/GSO SR FLTNGRT TRM COMMON STOCK 09256u105 4,109 239,312 SH   SOLE   239,312 0 0
BLOCK H & R INC COMMON STOCK 093671105 2,688 90,658 SH   SOLE   90,658 0 0
BOEING CO COMMON STOCK 097023105 3,844 27,712 SH   SOLE   27,712 0 0
BSB BANCORP INC MD COM ISIN#US COMMON STOCK 05573h108 3,185 144,073 SH   SOLE   144,073 0 0
CALLAWAY GOLF CO DELAWARE COMMON STOCK 131193104 10,576 1,182,982 SH   SOLE   1,182,982 0 0
CARMIKE CINEMAS INC COMMON STOCK 143436400 9,463 356,549 SH   SOLE   356,549 0 0
CASCADE MICROTECH INC COMMON STOCK 147322101 4,888 321,051 SH   SOLE   321,051 0 0
CECO ENVIRONMENTAL CORP COMMON STOCK 125141101 1,412 124,650 SH   SOLE   124,650 0 0
CENTURYLINK INC COMMON STOCK 156700106 2,464 83,865 SH   SOLE   83,865 0 0
CHEROKEE INC DEL NEW COM ISIN# COMMON STOCK 16444h102 8,062 286,105 SH   SOLE   286,105 0 0
CHIMERA INVT CORP COMNEW ISIN# COMMON STOCK 16934q208 3,295 240,354 SH   SOLE   240,354 0 0
CIFC CORP COMMON STOCK 12547r105 1,321 166,562 SH   SOLE   166,562 0 0
CINTAS CORP COMMON STOCK 172908105 3,148 37,212 SH   SOLE   37,212 0 0
CLOUGH GLOBAL EQUITY FDCOM ISI COMMON STOCK 18914c100 5,373 363,036 SH   SOLE   363,036 0 0
CLOUGH GLOBAL OPPORTUNITIESFD COMMON STOCK 18914e106 5,506 456,907 SH   SOLE   456,907 0 0
COCA COLA CO COMMON STOCK 191216100 2,197 56,000 SH   SOLE   56,000 0 0
COGENTIX MEDICAL, INC COMMON STOCK 19243a104 612 377,839 SH   SOLE   377,839 0 0
COHEN &STEERS INFRASTRUCTURECO COMMON STOCK 19248a109 3,866 183,926 SH   SOLE   183,926 0 0
CORENERGY INFRASTRUCTURETR IN COMMON STOCK 21870u205 13,638 2,157,978 SH   SOLE   2,157,978 0 0
CULP INC COMMON STOCK 230215105 2,096 67,600 SH   SOLE   67,600 0 0
CVS HEALTH CORP COM COMMON STOCK 126650100 5,043 48,080 SH   SOLE   48,080 0 0
D S T SYSTEMS INC COMMON STOCK 233326107 3,536 28,064 SH   SOLE   28,064 0 0
DATAWATCH CORP COM NEW ISIN#US COMMON STOCK 237917208 591 84,611 SH   SOLE   84,611 0 0
DEERE & COMPANY COMMON STOCK 244199105 2,829 29,154 SH   SOLE   29,154 0 0
DEMAND MEDIA INC COMMON STOCK 24802N208 530 83,296 SH   SOLE   83,296 0 0
DESTINATION XL GROUP INCCOM IS COMMON STOCK 25065k104 8,996 1,795,689 SH   SOLE   1,795,689 0 0
DHI GROUP INC COM COMMON STOCK 23331s100 4,288 482,333 SH   SOLE   482,333 0 0
DIGI INTL INC COM ISIN#US25379 COMMON STOCK 253798102 2,453 256,876 SH   SOLE   256,876 0 0
DIGIRAD CORP COMMON STOCK 253827109 5,211 1,200,762 SH   SOLE   1,200,762 0 0
DOUGLAS DYNAMICS INC COMUSD0.0 COMMON STOCK 25960r105 9,914 461,536 SH   SOLE   461,536 0 0
EATON VANCE ENHANCED EQT COMMON STOCK 278274105 3,389 258,106 SH   SOLE   258,106 0 0
EATON VANCE TAX ADVT DIVINCM C COMMON STOCK 27828g107 7,225 364,921 SH   SOLE   364,921 0 0
ECOLAB INC COMMON STOCK 278865100 739 6,534 SH   SOLE   6,534 0 0
ENSTAR GROUP LIMITED SHS ISIN# COMMON STOCK g3075p101 5,683 36,676 SH   SOLE   36,676 0 0
ENTEGRA FINL CORP COM ISIN#US2 COMMON STOCK 29363j108 2,567 146,281 SH   SOLE   146,281 0 0
EXXON MOBIL CORPORATION COMMON STOCK 30231g102 3,523 42,347 SH   SOLE   42,347 0 0
FARMERS NATIONAL BANC CORP COMMON STOCK 309627107 1,295 157,000 SH   SOLE   157,000 0 0
FIBROGEN INC COM COMMON STOCK 31572q808 938 39,924 SH   SOLE   39,924 0 0
FIRST BANK COMMON STOCK 31931U102 1,421 236,915 SH   SOLE   236,915 0 0
FIRST BUSINESS FINL SVCSWIS CO COMMON STOCK 319390100 8,475 180,786 SH   SOLE   180,786 0 0
FIRST FINANCIAL NORTHWEST INC COMMON STOCK 32022k102 249 20,000 SH   SOLE   20,000 0 0
FIRST NORTHWEST BANCORPCOM ISI COMMON STOCK 335834107 3,253 260,850 SH   SOLE   260,850 0 0
FIRST SECURITY GROUP INC COMMON STOCK 336312202 1,381 563,500 SH   SOLE   563,500 0 0
FISERV INC COMMON STOCK 337738108 4,702 56,766 SH   SOLE   56,766 0 0
FIVE STAR QUALITY CAREINC COM COMMON STOCK 33832d106 7,795 1,624,029 SH   SOLE   1,624,029 0 0
FLEXSTEEL INDUSTRIES INC COMMON STOCK 339382103 3,505 81,331 SH   SOLE   81,331 0 0
FORD MTR CO DEL COM COMMON STOCK 345370860 3,072 204,661 SH   SOLE   204,661 0 0
FRANKLIN COVEY CO COM ISIN#US3 COMMON STOCK 353469109 15,242 751,217 SH   SOLE   751,217 0 0
FST TR NEW OPPORT MLP&ENE FD C COMMON STOCK 33739m100 2,311 147,186 SH   SOLE   147,186 0 0
G S I GROUP INC NEW F COMMON STOCK 36191c205 4,297 285,918 SH   SOLE   285,918 0 0
GENTHERM INC COM COMMON STOCK 37253a103 7,172 130,605 SH   SOLE   130,605 0 0
GREEN BRICK PARTNERS INC COMMON STOCK 392709101 1,584 144,667 SH   SOLE   144,667 0 0
HACKETT GROUP INC COM COMMON STOCK 404609109 7,701 573,415 SH   SOLE   573,415 0 0
HALLMARK FINL SVCS INCCOM NEW COMMON STOCK 40624q203 1,292 113,575 SH   SOLE   113,575 0 0
HARVARD BIOSCIENCE INC COMMON STOCK 416906105 2,056 360,651 SH   SOLE   360,651 0 0
HARVEST CAPITAL CREDIT CORPORA COMMON STOCK 41753f109 2,854 203,299 SH   SOLE   203,299 0 0
HERITAGE FINANCIAL GROUP COMMON STOCK 42726x102 735 24,347 SH   SOLE   24,347 0 0
HOOKER FURNITURE CORPCOM ISIN# COMMON STOCK 439038100 2,056 81,870 SH   SOLE   81,870 0 0
HORACE MANN EDUCATORSCORP NEW COMMON STOCK 440327104 9,293 255,447 SH   SOLE   255,447 0 0
HORMEL FOODS CORP COM ISIN#US4 COMMON STOCK 440452100 3,625 64,307 SH   SOLE   64,307 0 0
HUTCHINSON TECH INC COMMON STOCK 448407106 17 10,000 SH   SOLE   10,000 0 0
INCONTACT INC COM ISIN#US45336 COMMON STOCK 45336e109 2,735 277,080 SH   SOLE   277,080 0 0
INFORMATION SERVICES GROUP COMMON STOCK 45675y104 1,539 322,000 SH   SOLE   322,000 0 0
INTERNET PATENTS CORPCOM ISIN# COMMON STOCK 46063g101 788 260,800 SH   SOLE   260,800 0 0
INTL FCSTONE INC COM ISIN#US46 COMMON STOCK 46116v105 11,511 346,311 SH   SOLE   346,311 0 0
INVENTURE FOODS INC COMMON STOCK 461212102 6,130 603,970 SH   SOLE   603,970 0 0
INVESTORS TITLE COMPANY COMMON STOCK 461804106 1,879 26,500 SH   SOLE   26,500 0 0
J & J SNACK FOODS CORP COMMON STOCK 466032109 5,231 47,264 SH   SOLE   47,264 0 0
JOHNSON & JOHNSON COMMON STOCK 478160104 3,669 37,647 SH   SOLE   37,647 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625h100 5,114 75,475 SH   SOLE   75,475 0 0
KIMBALL INTERNATIONAL INC COMMON STOCK 494274103 2,785 229,000 SH   SOLE   229,000 0 0
KIRKLANDS INC COM COMMON STOCK 497498105 3,284 117,850 SH   SOLE   117,850 0 0
LENDINGTREE INC NEW COM ISIN#U COMMON STOCK 52603b107 9,434 120,007 SH   SOLE   120,007 0 0
LIFETIME BRANDS INC COMMON STOCK 53222Q103 1,180 79,875 SH   SOLE   79,875 0 0
LITHIA MOTORS INC CL A COMMON STOCK 536797103 9,652 85,292 SH   SOLE   85,292 0 0
MACQUARIE INFRASTRUCTURECORP C COMMON STOCK 55608b105 4,960 60,032 SH   SOLE   60,032 0 0
MADDEN STEVEN LTD COMMON STOCK 556269108 5,599 130,878 SH   SOLE   130,878 0 0
MADISON CVRED CALL &EQSTR FD C COMMON STOCK 557437100 7,261 909,844 SH   SOLE   909,844 0 0
MAGELLAN HEALTH INC COMMON STOCK 559079207 5,397 77,025 SH   SOLE   77,025 0 0
MALIBU BOATS INC COM CLA COMMON STOCK 56117j100 9,849 490,235 SH   SOLE   490,235 0 0
MCG CAPITAL CORP COMMON STOCK 58047p107 7,200 1,578,948 SH   SOLE   1,578,948 0 0
MICROSOFT CORP COMMON STOCK 594918104 3,948 89,412 SH   SOLE   89,412 0 0
MOCON INC COMMON STOCK 607494101 3,492 218,950 SH   SOLE   218,950 0 0
MONOTYPE IMAGING HLDGSINC COMMON STOCK 61022p100 5,592 231,955 SH   SOLE   231,955 0 0
MVC CAPITAL INC COM ISIN#US553 COMMON STOCK 553829102 7,279 713,656 SH   SOLE   713,656 0 0
NATHANS FAMOUS INC COMMON STOCK 632347100 1,175 31,700 SH   SOLE   31,700 0 0
NATURAL GAS SERVICE GP COMMON STOCK 63886q109 7,334 321,375 SH   SOLE   321,375 0 0
NAUTILUS INC COMMON STOCK 63910b102 17,123 796,052 SH   SOLE   796,052 0 0
NCR CORP COMMON STOCK 62886e108 2,086 69,309 SH   SOLE   69,309 0 0
NEUBERGER BERMAN RE ESSEC FD C COMMON STOCK 64190a103 4,404 929,020 SH   SOLE   929,020 0 0
NEW SR INVT GROUP INCCOM ISIN# Miscellaneous 648691103 3,496 261,498 SH   SOLE   261,498 0 0
NEWCASTLE INVT CORP ISIN#US651 COMMON STOCK 65105m603 7,098 1,605,837 SH   SOLE   1,605,837 0 0
NUVEEN BUILD AMER BD FDCOM COMMON STOCK 67074c103 7,185 371,296 SH   SOLE   371,296 0 0
NUVEEN INTER DURATIONMUN TERM COMMON STOCK 670671106 3,167 258,500 SH   SOLE   258,500 0 0
NUVEEN MTG OPPORTUNITYTERM FD COMMON STOCK 670735109 6,257 275,775 SH   SOLE   275,775 0 0
NUVEEN PFD & INCOME TERMFD COM COMMON STOCK 67075a106 5,644 253,773 SH   SOLE   253,773 0 0
OHA INVESTMENT CORPORATION COMMON STOCK 67091u102 1,184 208,000 SH   SOLE   208,000 0 0
OTTER TAIL CORP FORMERLYOTTER COMMON STOCK 689648103 2,115 79,515 SH   SOLE   79,515 0 0
PERCEPTRON INC COMMON STOCK 71361f100 1,900 179,942 SH   SOLE   179,942 0 0
PERFORMANCE SPORTS GROUP LTD COMMON STOCK 71377G100 3,330 185,000 SH   SOLE   185,000 0 0
PFSWEB INC COMMON STOCK 717098206 1,746 126,000 SH   SOLE   126,000 0 0
PHOTRONICS INC COM ISIN#US7194 COMMON STOCK 719405102 4,435 466,333 SH   SOLE   466,333 0 0
PROCTER & GAMBLE COMMON STOCK 742718109 3,601 46,025 SH   SOLE   46,025 0 0
PSYCHEMEDICS CORP COMNEW ISIN# COMMON STOCK 744375205 2,870 193,500 SH   SOLE   193,500 0 0
PUTNAM PREMIER INCOMETR SH BEN COMMON STOCK 746853100 6,337 1,242,493 SH   SOLE   1,242,493 0 0
PZENA INVT MGMT INC CLA COMMON STOCK 74731q103 17,430 1,577,351 SH   SOLE   1,577,351 0 0
RED LION HOTELS COMMON STOCK 756764106 1,324 172,900 SH   SOLE   172,900 0 0
REDWOOD TRUST INC COMMON STOCK 758075402 3,601 229,348 SH   SOLE   229,348 0 0
REPUBLIC SERVICES INCCOM COMMON STOCK 760759100 2,885 73,658 SH   SOLE   73,658 0 0
RIGNET INC COM COMMON STOCK 766582100 3,431 112,250 SH   SOLE   112,250 0 0
ROUSE PPTYS INC COM COMMON STOCK 779287101 4,942 302,272 SH   SOLE   302,272 0 0
ROYCE GLOBAL VALUE TRINC COM I COMMON STOCK 78081t104 1,289 155,165 SH   SOLE   155,165 0 0
ROYCE MICRO-CAP TR INCCOM ISIN COMMON STOCK 780915104 3,405 369,340 SH   SOLE   369,340 0 0
ROYCE VALUE TR INC COM ISIN#US COMMON STOCK 780910105 2,335 169,349 SH   SOLE   169,349 0 0
SCRIPPS E W CO OHIO CLA NEW COMMON STOCK 811054402 11,651 509,892 SH   SOLE   509,892 0 0
SHILOH INDUSTRIES INC COMMON STOCK 824543102 2,172 167,693 SH   SOLE   167,693 0 0
SILVERCREST ASSET MGMTGROUP I COMMON STOCK 828359109 4,091 291,000 SH   SOLE   291,000 0 0
SIMULATIONS PLUS INC COM ISIN# COMMON STOCK 829214105 4,237 675,763 SH   SOLE   675,763 0 0
SOLAR CAPITAL LTD COMMON STOCK 83413u100 4,130 229,436 SH   SOLE   229,436 0 0
SP PLUS CORP COM COMMON STOCK 78469c103 5,813 222,633 SH   SOLE   222,633 0 0
SPOK HLDGS INC COM ISIN#US8486 COMMON STOCK 84863t106 9,780 580,766 SH   SOLE   580,766 0 0
STONECASTLE FINL CORPCOM ISIN# COMMON STOCK 861780104 6,753 390,341 SH   SOLE   390,341 0 0
SUPERIOR UNIFORM GROUP COMMON STOCK 868358102 2,144 129,600 SH   SOLE   129,600 0 0
SUPREME INDUSTRIES INC. COMMON STOCK 868607102 3,859 450,284 SH   SOLE   450,284 0 0
SYNERON MEDICAL LTD ORDSHS ISI COMMON STOCK m87245102 5,090 479,250 SH   SOLE   479,250 0 0
SYNTEL INC COMMON STOCK 87162h103 4,009 84,426 SH   SOLE   84,426 0 0
TANDY LEATHER FACTORY INC COMMON STOCK 87538X105 1,687 196,210 SH   SOLE   196,210 0 0
TECHTARGET INC COM ISIN#US8787 COMMON STOCK 87874r100 8,357 935,786 SH   SOLE   935,786 0 0
THESTREET INC COMMON STOCK 88368q103 3,285 1,814,850 SH   SOLE   1,814,850 0 0
TRANSCAT INC COMMON STOCK 893529107 1,006 106,500 SH   SOLE   106,500 0 0
TRUEBLUE INC COMMON STOCK 89785x101 8,589 287,270 SH   SOLE   287,270 0 0
U S PHYSICAL THERAPYINC COMMON STOCK 90337l108 6,547 119,552 SH   SOLE   119,552 0 0
UFP TECH INC COMMON STOCK 902673102 3,054 146,000 SH   SOLE   146,000 0 0
UNITED FINL BANCORP INCNEW COM COMMON STOCK 910304104 7,450 553,868 SH   SOLE   553,868 0 0
UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 2,402 21,657 SH   SOLE   21,657 0 0
VANGUARD INDEX FDS VANGUARDGRO COMMON STOCK 922908736 385 3,597 SH   SOLE   3,597 0 0
VERIZON COMMUNICATIONS COMMON STOCK 92343v104 2,102 45,106 SH   SOLE   45,106 0 0
WASTE MANAGEMENT INC COMMON STOCK 94106l109 3,312 71,447 SH   SOLE   71,447 0 0
WEST MARINE INC COM ISIN#US954 COMMON STOCK 954235107 1,728 179,300 SH   SOLE   179,300 0 0
WESTWOOD HLDGS GROUP INCCOM IS COMMON STOCK 961765104 7,515 126,148 SH   SOLE   126,148 0 0
CALAVO GROWERS INC COMMON STOCK 128246105 4,576 88,111 SH   SOLE   88,111 0 0
3M COMPANY COMMON STOCK 88579y101 2,247 14,560 SH   SOLE   14,560 0 0
ANTHEM INC COM ISIN#US03675210 COMMON STOCK 036752103 4,208 25,638 SH   SOLE   25,638 0 0
EXA CORP COM ISIN#US3006145003 COMMON STOCK 300614500 1,841 165,150 SH   SOLE   165,150 0 0
GDL FUND COM SH BEN IT ISIN#US COMMON STOCK 361570104 5,236 513,848 SH   SOLE   513,848 0 0
GUGGENHEIM S&P 500 PUREVALUE E COMMON STOCK 78355w304 9,905 184,861 SH   SOLE   184,861 0 0
GUGGENHEIM SPINOFFETF COMMON STOCK 18383m605 3,596 78,387 SH   SOLE   78,387 0 0
INVESCO LTD SHS ISIN#BMG491BT1 COMMON STOCK g491bt108 3,798 101,315 SH   SOLE   101,315 0 0
ISHARES 1-3 YEAR TREASURYBOND COMMON STOCK 464287457 250 2,950 SH   SOLE   2,950 0 0
ISHARES S&P 500 GROWTHETF INDEX UNIT 464287309 11,990 105,303 SH   SOLE   105,303 0 0
ISHARES S&P 500 VALUEETF INDEX UNIT 464287408 2,391 25,927 SH   SOLE   25,927 0 0
ITT CORPORATION COM USD1.00 COMMON STOCK 450911201 1,641 39,209 SH   SOLE   39,209 0 0
LRAD CORP COM ISIN#US50213V109 COMMON STOCK 50213v109 1,172 588,900 SH   SOLE   588,900 0 0
MESA LABORATORIES INCCOM NPV I COMMON STOCK 59064r109 2,262 25,445 SH   SOLE   25,445 0 0
NOVARTIS A G SPONSOREDADR ISIN COMMON STOCK 66987v109 2,711 27,564 SH   SOLE   27,564 0 0
REIS INC COM ISIN#US75936P1057 COMMON STOCK 75936p105 5,579 251,515 SH   SOLE   251,515 0 0
SALEM COMMUNICATIONS CORP. COMMON STOCK 794093104 2,442 385,747 SH   SOLE   385,747 0 0
TARGET CORP COM ISIN#US87612E1 COMMON STOCK 87612e106 4,225 51,763 SH   SOLE   51,763 0 0
USG CORP COM NEW COMMON STOCK 903293405 2,637 94,892 SH   SOLE   94,892 0 0