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
ACCENTURE PLC CLS A USD0.00002 COMMON STOCK g1151c101 2,977 31,778 SH   SOLE   31,778 0 0
ALCENTRA CAP CORP COM ISIN#US0 COMMON STOCK 01374t102 3,107 233,645 SH   SOLE   233,645 0 0
ALTISOURCE RESIDENTIALCORP COM COMMON STOCK 02153w100 4,297 206,001 SH   SOLE   206,001 0 0
AMERCO COM COMMON STOCK 023586100 7,484 22,650 SH   SOLE   22,650 0 0
AMERIPRISE FINL INC COM COMMON STOCK 03076c106 4,421 33,788 SH   SOLE   33,788 0 0
ARBOR RLTY TR INC COMMON STOCK 038923108 7,488 1,072,812 SH   SOLE   1,072,812 0 0
ARC DOCUMENT SOLUTIONSINC COM COMMON STOCK 00191g103 7,455 807,717 SH   SOLE   807,717 0 0
ARES COML REAL ESTATECORP COM COMMON STOCK 04013v108 3,320 300,418 SH   SOLE   300,418 0 0
ASCENT CAP GROUP INC COMSER A COMMON STOCK 043632108 4,422 111,070 SH   SOLE   111,070 0 0
AWARE INC COMMON STOCK 05453N100 2,407 548,291 SH   SOLE   548,291 0 0
BLACKROCK CAPITAL INVESTMENTC COMMON STOCK 092533108 6,033 665,941 SH   SOLE   665,941 0 0
BLACKROCK MUN TARGET TERMTR CO COMMON STOCK 09257p105 2,903 138,435 SH   SOLE   138,435 0 0
BLACKROCK RES &COMM STRATTR SH COMMON STOCK 09257a108 7,366 770,477 SH   SOLE   770,477 0 0
BLACKSTONE GSO STRATEGICCR FD COMMON STOCK 09257r101 5,174 319,780 SH   SOLE   319,780 0 0
BLACKSTONE MTG TR INCCOM CL A Miscellaneous 09257w100 5,064 178,488 SH   SOLE   178,488 0 0
BLACKSTONE/GSO SR FLTNGRT TRM COMMON STOCK 09256u105 4,000 231,872 SH   SOLE   231,872 0 0
BLOCK H & R INC COMMON STOCK 093671105 2,883 89,904 SH   SOLE   89,904 0 0
BOEING CO COMMON STOCK 097023105 4,117 27,434 SH   SOLE   27,434 0 0
BSB BANCORP INC MD COM ISIN#US COMMON STOCK 05573h108 3,434 173,602 SH   SOLE   173,602 0 0
CALAVO GROWERS INC COMMON STOCK 128246105 5,301 103,093 SH   SOLE   103,093 0 0
CALLAWAY GOLF CO DELAWARE COMMON STOCK 131193104 12,364 1,297,387 SH   SOLE   1,297,387 0 0
CARMIKE CINEMAS INC COMMON STOCK 143436400 13,016 387,389 SH   SOLE   387,389 0 0
CASCADE MICROTECH INC COMMON STOCK 147322101 4,752 349,900 SH   SOLE   349,900 0 0
CENTURYLINK INC COMMON STOCK 156700106 2,861 82,820 SH   SOLE   82,820 0 0
CHEROKEE INC DEL NEW COM ISIN# COMMON STOCK 16444h102 6,120 314,175 SH   SOLE   314,175 0 0
CIFC CORP COMMON STOCK 12547r105 1,299 169,800 SH   SOLE   169,800 0 0
CINTAS CORP COMMON STOCK 172908105 3,041 37,252 SH   SOLE   37,252 0 0
CLOUGH GLOBAL EQUITY FDCOM ISI COMMON STOCK 18914c100 5,456 363,027 SH   SOLE   363,027 0 0
CLOUGH GLOBAL OPPORTUNITIESFD COMMON STOCK 18914e106 5,853 469,762 SH   SOLE   469,762 0 0
COCA COLA CO COMMON STOCK 191216100 2,271 56,000 SH   SOLE   56,000 0 0
COHEN &STEERS CLOSED ENDOPPO C COMMON STOCK 19248p106 2,779 215,631 SH   SOLE   215,631 0 0
COHEN &STEERS INFRASTRUCTURECO COMMON STOCK 19248a109 7,858 345,863 SH   SOLE   345,863 0 0
CORENERGY INFRASTRUCTURETR INC COMMON STOCK 21870u205 8,395 1,211,401 SH   SOLE   1,211,401 0 0
COURIER CORP COM ISIN#US222660 COMMON STOCK 222660102 490 20,000 SH   SOLE   20,000 0 0
CULP INC COMMON STOCK 230215105 1,808 67,600 SH   SOLE   67,600 0 0
CVS HEALTH CORP COM COMMON STOCK 126650100 4,945 47,914 SH   SOLE   47,914 0 0
D S T SYSTEMS INC COMMON STOCK 233326107 3,144 28,403 SH   SOLE   28,403 0 0
DATALINK CORP COM ISIN#US23793 COMMON STOCK 237934104 5,877 488,152 SH   SOLE   488,152 0 0
DATAWATCH CORP COM NEW ISIN#US COMMON STOCK 237917208 1,340 197,300 SH   SOLE   197,300 0 0
DEERE & COMPANY COMMON STOCK 244199105 2,627 29,960 SH   SOLE   29,960 0 0
DESTINATION XL GROUP INCCOM IS COMMON STOCK 25065k104 9,536 1,930,270 SH   SOLE   1,930,270 0 0
DIAMOND HILL INVESTMENT GROUP COMMON STOCK 25264R207 1,344 8,400 SH   SOLE   8,400 0 0
DICE HLDGS INC COM COMMON STOCK 253017107 5,574 624,887 SH   SOLE   624,887 0 0
DIGIRAD CORP COMMON STOCK 253827109 4,870 1,072,739 SH   SOLE   1,072,739 0 0
DOUGLAS DYNAMICS INC COMUSD0.0 COMMON STOCK 25960r105 9,606 420,594 SH   SOLE   420,594 0 0
EATON VANCE ENHANCED EQT COMMON STOCK 278274105 3,427 249,595 SH   SOLE   249,595 0 0
EATON VANCE TAX ADVT DIVINCM C COMMON STOCK 27828g107 5,808 281,789 SH   SOLE   281,789 0 0
ECOLAB INC COMMON STOCK 278865100 743 6,500 SH   SOLE   6,500 0 0
ENSTAR GROUP LIMITED SHS ISIN# COMMON STOCK g3075p101 5,754 40,564 SH   SOLE   40,564 0 0
ENTEGRA FINL CORP COM ISIN#US2 COMMON STOCK 29363j108 1,443 93,066 SH   SOLE   93,066 0 0
EXXON MOBIL CORPORATION COMMON STOCK 30231g102 2,685 31,593 SH   SOLE   31,593 0 0
FARMERS NATIONAL BANC CORP COMMON STOCK 309627107 1,286 157,000 SH   SOLE   157,000 0 0
FIRST BANK COMMON STOCK 31931U102 1,429 236,915 SH   SOLE   236,915 0 0
FIRST BUSINESS FINL SVCSWIS CO COMMON STOCK 319390100 7,347 169,912 SH   SOLE   169,912 0 0
FIRST NORTHWEST BANCORPCOM ISI COMMON STOCK 335834107 568 45,480 SH   SOLE   45,480 0 0
FIRST SECURITY GROUP INC COMMON STOCK 336312202 1,075 448,002 SH   SOLE   448,002 0 0
FISERV INC COMMON STOCK 337738108 4,466 56,247 SH   SOLE   56,247 0 0
FIVE STAR QUALITY CAREINC COM COMMON STOCK 33832d106 8,537 1,922,824 SH   SOLE   1,922,824 0 0
FLEXSTEEL INDUSTRIES INC COMMON STOCK 339382103 3,030 96,824 SH   SOLE   96,824 0 0
FORD MTR CO DEL COM COMMON STOCK 345370860 3,268 202,508 SH   SOLE   202,508 0 0
FRANKLIN COVEY CO COM ISIN#US3 COMMON STOCK 353469109 15,421 800,677 SH   SOLE   800,677 0 0
G S I GROUP INC NEW F COMMON STOCK 36191c205 4,280 321,357 SH   SOLE   321,357 0 0
GENTHERM INC COM COMMON STOCK 37253a103 9,741 192,862 SH   SOLE   192,862 0 0
GREEN BRICK PARTNERS INC COMMON STOCK 392709101 1,197 144,667 SH   SOLE   144,667 0 0
HACKETT GROUP INC COM COMMON STOCK 404609109 8,588 960,618 SH   SOLE   960,618 0 0
HALLMARK FINL SVCS INCCOM NEW COMMON STOCK 40624q203 1,074 101,339 SH   SOLE   101,339 0 0
HARVARD BIOSCIENCE INC COMMON STOCK 416906105 2,099 360,651 SH   SOLE   360,651 0 0
HARVEST CAPITAL CREDIT CORPORA COMMON STOCK 41753f109 2,370 182,593 SH   SOLE   182,593 0 0
HERITAGE FINANCIAL GROUP COMMON STOCK 42726x102 663 24,347 SH   SOLE   24,347 0 0
HOME LOAN SERVICING SOLUTIONSL COMMON STOCK g6648d109 2,935 177,430 SH   SOLE   177,430 0 0
HOOKER FURNITURE CORPCOM ISIN# COMMON STOCK 439038100 2,480 130,178 SH   SOLE   130,178 0 0
HORACE MANN EDUCATORSCORP NEW COMMON STOCK 440327104 9,719 284,177 SH   SOLE   284,177 0 0
HORMEL FOODS CORP COM ISIN#US4 COMMON STOCK 440452100 3,620 63,679 SH   SOLE   63,679 0 0
HUTCHINSON TECH INC COMMON STOCK 448407106 27 10,000 SH   SOLE   10,000 0 0
INCONTACT INC COM ISIN#US45336 COMMON STOCK 45336e109 3,020 277,080 SH   SOLE   277,080 0 0
INTERNET PATENTS CORPCOM ISIN# COMMON STOCK 46063g101 469 175,634 SH   SOLE   175,634 0 0
INTL FCSTONE INC COM ISIN#US46 COMMON STOCK 46116v105 12,573 422,901 SH   SOLE   422,901 0 0
INVENTURE FOODS INC COMMON STOCK 461212102 7,042 629,345 SH   SOLE   629,345 0 0
INVESTORS TITLE COMPANY COMMON STOCK 461804106 1,962 26,500 SH   SOLE   26,500 0 0
J & J SNACK FOODS CORP COMMON STOCK 466032109 5,600 52,479 SH   SOLE   52,479 0 0
JOHNSON & JOHNSON COMMON STOCK 478160104 3,742 37,197 SH   SOLE   37,197 0 0
JOURNAL COMMUNICATIONSINC CLA COMMON STOCK 481130102 13,956 941,705 SH   SOLE   941,705 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625h100 4,533 74,822 SH   SOLE   74,822 0 0
KIMBALL INTERNATIONAL INC COMMON STOCK 494274103 1,310 125,000 SH   SOLE   125,000 0 0
KIRKLANDS INC COM ISIN#US49749 COMMON STOCK 497498105 3,136 132,050 SH   SOLE   132,050 0 0
LENDINGTREE INC NEW COM ISIN#U COMMON STOCK 52603b107 10,095 180,227 SH   SOLE   180,227 0 0
LIFETIME BRANDS INC COMMON STOCK 53222Q103 1,068 69,875 SH   SOLE   69,875 0 0
LITHIA MOTORS INC CL A COMMON STOCK 536797103 9,502 95,587 SH   SOLE   95,587 0 0
MACQUARIE INFRASTRUCTURECO LLC COMMON STOCK 55608b105 7,446 90,490 SH   SOLE   90,490 0 0
MADDEN STEVEN LTD COMMON STOCK 556269108 5,473 144,035 SH   SOLE   144,035 0 0
MADISON CVRED CALL &EQSTR FD C COMMON STOCK 557437100 7,262 884,481 SH   SOLE   884,481 0 0
MAGELLAN HEALTH INC COMMON STOCK 559079207 6,061 85,583 SH   SOLE   85,583 0 0
MALIBU BOATS INC COMMON STOCK 56117j100 1,564 67,000 SH   SOLE   67,000 0 0
MCG CAPITAL CORP COMMON STOCK 58047p107 6,100 1,540,498 SH   SOLE   1,540,498 0 0
MICROSOFT CORP COMMON STOCK 594918104 3,588 88,252 SH   SOLE   88,252 0 0
MOCON INC COMMON STOCK 607494101 3,640 218,950 SH   SOLE   218,950 0 0
MONOTYPE IMAGING HLDGSINC COMMON STOCK 61022p100 8,507 260,616 SH   SOLE   260,616 0 0
MVC CAPITAL INC COM ISIN#US553 COMMON STOCK 553829102 6,914 729,377 SH   SOLE   729,377 0 0
NATHANS FAMOUS INC COMMON STOCK 632347100 1,467 27,100 SH   SOLE   27,100 0 0
NATURAL GAS SERVICE GP COMMON STOCK 63886q109 8,233 428,360 SH   SOLE   428,360 0 0
NAUTILUS INC COMMON STOCK 63910b102 15,145 991,787 SH   SOLE   991,787 0 0
NCR CORP COMMON STOCK 62886e108 2,023 68,550 SH   SOLE   68,550 0 0
NEUBERGER BERMAN RE ESSEC FD C COMMON STOCK 64190a103 4,497 829,738 SH   SOLE   829,738 0 0
NEW SR INVT GROUP INCCOM ISIN# Miscellaneous 648691103 4,170 250,776 SH   SOLE   250,776 0 0
NEWCASTLE INVT CORP ISIN#US651 COMMON STOCK 65105m603 5,336 1,100,110 SH   SOLE   1,100,110 0 0
NUVEEN BUILD AMER BD FDCOM COMMON STOCK 67074c103 7,658 360,524 SH   SOLE   360,524 0 0
NUVEEN INTER DURATIONMUN TERM COMMON STOCK 670671106 3,203 247,155 SH   SOLE   247,155 0 0
NUVEEN MTG OPPORTUNITYTERM FD COMMON STOCK 670735109 5,596 240,263 SH   SOLE   240,263 0 0
NUVEEN PFD & INCOME TERMFD COM COMMON STOCK 67075a106 5,783 246,806 SH   SOLE   246,806 0 0
OTTER TAIL CORP FORMERLYOTTER COMMON STOCK 689648103 2,473 76,874 SH   SOLE   76,874 0 0
PERCEPTRON INC COMMON STOCK 71361f100 1,446 107,000 SH   SOLE   107,000 0 0
PERFORMANCE SPORTS GROUP LTD COMMON STOCK 71377G100 3,608 185,000 SH   SOLE   185,000 0 0
PFSWEB INC COMMON STOCK 717098206 1,154 105,000 SH   SOLE   105,000 0 0
PHOTRONICS INC COM ISIN#US7194 COMMON STOCK 719405102 5,511 648,377 SH   SOLE   648,377 0 0
PROCTER & GAMBLE COMMON STOCK 742718109 3,817 46,589 SH   SOLE   46,589 0 0
PSYCHEMEDICS CORP COMNEW ISIN# COMMON STOCK 744375205 3,210 193,500 SH   SOLE   193,500 0 0
PUTNAM PREMIER INCOMETR SH BEN COMMON STOCK 746853100 4,920 933,663 SH   SOLE   933,663 0 0
PZENA INVT MGMT INC CLA COMMON STOCK 74731q103 15,736 1,716,029 SH   SOLE   1,716,029 0 0
REDWOOD TRUST INC COMMON STOCK 758075402 3,959 221,529 SH   SOLE   221,529 0 0
REPUBLIC SERVICES INCCOM COMMON STOCK 760759100 2,949 72,703 SH   SOLE   72,703 0 0
RIGNET INC COM COMMON STOCK 766582100 2,511 87,835 SH   SOLE   87,835 0 0
ROUSE PPTYS INC COM COMMON STOCK 779287101 6,415 338,347 SH   SOLE   338,347 0 0
ROYCE GLOBAL VALUE TRINC COM I COMMON STOCK 78081t104 761 94,489 SH   SOLE   94,489 0 0
ROYCE MICRO-CAP TR INCCOM ISIN COMMON STOCK 780915104 1,149 117,334 SH   SOLE   117,334 0 0
ROYCE VALUE TR INC COM ISIN#US COMMON STOCK 780910105 2,326 162,419 SH   SOLE   162,419 0 0
SCRIPPS E W CO OHIO CLA NEW COMMON STOCK 811054402 7,599 267,209 SH   SOLE   267,209 0 0
SHILOH INDUSTRIES INC COMMON STOCK 824543102 2,310 164,500 SH   SOLE   164,500 0 0
SILVERCREST ASSET MGMTGROUP I COMMON STOCK 828359109 3,366 236,200 SH   SOLE   236,200 0 0
SIMULATIONS PLUS INC COM ISIN# COMMON STOCK 829214105 4,149 675,763 SH   SOLE   675,763 0 0
SOLAR CAPITAL LTD COMMON STOCK 83413u100 4,238 209,374 SH   SOLE   209,374 0 0
SP PLUS CORP COM COMMON STOCK 78469c103 5,451 249,483 SH   SOLE   249,483 0 0
SPOK HLDGS INC COM ISIN#US8486 COMMON STOCK 84863t106 11,487 599,199 SH   SOLE   599,199 0 0
STONECASTLE FINL CORPCOM ISIN# COMMON STOCK 861780104 3,513 195,528 SH   SOLE   195,528 0 0
SUPERIOR UNIFORM GROUP COMMON STOCK 868358102 1,282 67,600 SH   SOLE   67,600 0 0
SUPREME INDUSTRIES INC. COMMON STOCK 868607102 3,150 405,965 SH   SOLE   405,965 0 0
SYNERON MEDICAL LTD ORDSHS ISI COMMON STOCK m87245102 6,544 528,587 SH   SOLE   528,587 0 0
SYNTEL INC COMMON STOCK 87162h103 4,919 95,090 SH   SOLE   95,090 0 0
TANDY LEATHER FACTORY INC COMMON STOCK 87538X105 1,738 196,210 SH   SOLE   196,210 0 0
TECHTARGET INC COM ISIN#US8787 COMMON STOCK 87874r100 11,368 985,917 SH   SOLE   985,917 0 0
THESTREET INC COMMON STOCK 88368q103 3,267 1,814,850 SH   SOLE   1,814,850 0 0
TRANSCAT INC COMMON STOCK 893529107 749 76,700 SH   SOLE   76,700 0 0
TRUEBLUE INC COMMON STOCK 89785x101 7,855 322,603 SH   SOLE   322,603 0 0
U S PHYSICAL THERAPYINC COMMON STOCK 90337l108 10,289 216,602 SH   SOLE   216,602 0 0
UFP TECH INC COMMON STOCK 902673102 2,456 107,824 SH   SOLE   107,824 0 0
UNITED FINL BANCORP INCNEW COM COMMON STOCK 910304104 7,615 612,669 SH   SOLE   612,669 0 0
UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 2,516 21,469 SH   SOLE   21,469 0 0
UROPLASTY INC COMNEW COMMON STOCK 917277204 634 520,000 SH   SOLE   520,000 0 0
VANGUARD INDEX FDS VANGUARDGRO COMMON STOCK 922908736 376 3,597 SH   SOLE   3,597 0 0
VERIZON COMMUNICATIONS COMMON STOCK 92343v104 2,163 44,483 SH   SOLE   44,483 0 0
WASTE MANAGEMENT INC COMMON STOCK 94106l109 3,829 70,606 SH   SOLE   70,606 0 0
WEST MARINE INC COM ISIN#US954 COMMON STOCK 954235107 1,581 170,500 SH   SOLE   170,500 0 0
WESTWOOD HLDGS GROUP INCCOM IS COMMON STOCK 961765104 7,773 128,904 SH   SOLE   128,904 0 0
AGILYSYS INC COMMON STOCK 00847J105 2,706 275,000 SH   SOLE   275,000 0 0
ALAMO GROUP INC COMMON STOCK 011311107 7,880 124,821 SH   SOLE   124,821 0 0
3M COMPANY COMMON STOCK 88579y101 2,328 14,114 SH   SOLE   14,114 0 0
A H BELO CORP COM CL A ISIN#US COMMON STOCK 001282102 6,651 808,200 SH   SOLE   808,200 0 0
ANTHEM INC COM ISIN#US03675210 COMMON STOCK 036752103 3,928 25,438 SH   SOLE   25,438 0 0
EXA CORP COM ISIN#US3006145003 COMMON STOCK 300614500 1,962 165,150 SH   SOLE   165,150 0 0
GDL FUND COM SH BEN IT ISIN#US COMMON STOCK 361570104 5,045 488,335 SH   SOLE   488,335 0 0
GUGGENHEIM S&P 500 PUREVALUE E COMMON STOCK 78355w304 7,096 131,439 SH   SOLE   131,439 0 0
GUGGENHEIM SPINOFFETF COMMON STOCK 18383m605 3,634 76,491 SH   SOLE   76,491 0 0
INVESCO LTD SHS ISIN#BMG491BT1 COMMON STOCK g491bt108 3,982 100,336 SH   SOLE   100,336 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 14,687 128,890 SH   SOLE   128,890 0 0
ITT CORPORATION COM USD1.00 COMMON STOCK 450911201 1,545 38,701 SH   SOLE   38,701 0 0
LRAD CORP COM ISIN#US50213V109 COMMON STOCK 50213v109 1,384 588,900 SH   SOLE   588,900 0 0
MESA LABORATORIES INCCOM NPV I COMMON STOCK 59064r109 1,795 24,856 SH   SOLE   24,856 0 0
NOVARTIS A G SPONSOREDADR ISIN COMMON STOCK 66987v109 2,676 27,134 SH   SOLE   27,134 0 0
REIS INC COM ISIN#US75936P1057 COMMON STOCK 75936p105 6,141 239,515 SH   SOLE   239,515 0 0
SALEM COMMUNICATIONS CORP. COMMON STOCK 794093104 2,732 443,496 SH   SOLE   443,496 0 0
TARGET CORP COM ISIN#US87612E1 COMMON STOCK 87612e106 4,809 58,598 SH   SOLE   58,598 0 0
USG CORP COM NEW COMMON STOCK 903293405 2,508 93,927 SH   SOLE   93,927 0 0
ZIX CORPORATION COMMON STOCK 98974P100 1,808 460,000 SH   SOLE   460,000 0 0