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
ARCOS DORADOS HOLDINGS INC SHS CLASS A G0457F107 1,120 100,000 SH   OTR 1 100,000 0 0
VISTAPRINT N V SHS N93540107 2,841 70,215 SH   OTR 1 70,215 0 0
STARR BULK CARRIERS CORP SHS NEW Y8162K121 2,034 156,858 SH   OTR 1 156,858 0 0
STEALTHGAS INC SHS Y81669106 2,316 208,625 SH   OTR 1 208,625 0 0
ADVANCED ENERGY INDS COM 007973100 331 17,185 SH   SOLE N/A 17,185 0 0
ADVANCED ENERGY INDS COM 007973100 6,873 357,040 SH   OTR 1 357,040 0 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 391 34,850 SH   OTR 1 34,850 0 0
AMREP CORP NEW COM 032159105 23 3,830 SH   SOLE N/A 3,830 0 0
AMREP CORP NEW COM 032159105 4,319 704,633 SH   OTR 1 704,633 0 0
APPLE INC COM 037833100 533 5,740 SH   SOLE N/A 5,740 0 0
ATWOOD OCEANICS INC COM 050095108 1,108 21,112 SH   SOLE N/A 21,112 0 0
ATWOOD OCEANICS INC COM 050095108 9,127 173,914 SH   OTR 1 173,914 0 0
BPZ RESOURCES INC COM 055639108 1,318 427,835 SH   OTR 1 427,835 0 0
BALDWIN & LYONS INC CL A 057755100 1 45 SH   SOLE N/A 45 0 0
BALDWIN & LYONS INC CL A 057755100 530 22,656 SH   OTR 1 22,656 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 63 500 SH   SOLE N/A 500 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,002 7,919 SH   OTR 1 7,919 0 0
BLUELINX HLDGS INC COM 09624H109 129 92,401 SH   SOLE N/A 92,401 0 0
BLUELINX HLDGS INC COM 09624H109 195 139,037 SH   OTR 1 139,037 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 1,146 153,194 SH   SOLE N/A 153,194 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 21,713 2,902,751 SH   OTR 1 2,902,751 0 0
CGG SPONS ADR 12531Q105 307 21,587 SH   SOLE N/A 21,587 0 0
CGG SPONS ADR 12531Q105 711 50,047 SH   OTR 1 50,047 0 0
CPI AEROSTRUCTURES INC COM NEW 125919308 2,926 230,922 SH   OTR 1 230,922 0 0
CAL MAINE FOODS INC COM NEW 128030202 227 3,050 SH   SOLE N/A 3,050 0 0
CAL MAINE FOODS INC COM NEW 128030202 3,747 50,419 SH   OTR 1 50,419 0 0
CANADIAN NAT RES LTD COM 136385101 305 6,650 SH   SOLE N/A 6,650 0 0
CANADIAN NAT RES LTD COM 136385101 12,638 275,280 SH   OTR 1 275,280 0 0
CAVCO INDS INC DEL COM 149568107 102 1,200 SH   SOLE N/A 1,200 0 0
CAVCO INDS INC DEL COM 149568107 16,569 194,242 SH   OTR 1 194,242 0 0
COAST DISTR SYS COM 190345108 111 36,050 SH   SOLE N/A 36,050 0 0
COAST DISTR SYS COM 190345108 1,186 383,989 SH   OTR 1 383,989 0 0
COTY INC COM CL A 222070203 1,970 115,000 SH   OTR 1 115,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 353 4,450 SH   OTR 1 4,450 0 0
DREW INDS INC COM NEW 26168L205 172 3,440 SH   SOLE N/A 3,440 0 0
DREW INDS INC COM NEW 26168L205 2,366 47,317 SH   OTR 1 47,317 0 0
ERA GROUP INC COM 26885G109 34 1,190 SH   SOLE N/A 1,190 0 0
ERA GROUP INC COM 26885G109 1,512 52,706 SH   OTR 1 52,706 0 0
GIBRALTAR INDS INC COM 374689107 4,111 265,044 SH   OTR 1 265,044 0 0
GLOBAL POWER EQUIPMENT GRP INC COM PAR $0.01 37941P306 8 500 SH   SOLE N/A 500 0 0
GLOBAL POWER EQUIPMENT GRP INC COM PAR $0.01 37941P306 835 51,664 SH   OTR 1 51,664 0 0
GRAFTECH INTL LTD COM 384313102 287 27,450 SH   SOLE N/A 27,450 0 0
GRAFTECH INTL LTD COM 384313102 3,585 342,700 SH   OTR 1 342,700 0 0
HALLADOR ENERGY COMPANY COM 40609P105 290 30,550 SH   SOLE N/A 30,550 0 0
HALLADOR ENERGY COMPANY COM 40609P105 297 31,256 SH   OTR 1 31,256 0 0
HELMERICH & PAYNE INC COM 423452101 104 900 SH   SOLE N/A 900 0 0
HELMERICH & PAYNE INC COM 423452101 9,319 80,262 SH   OTR 1 80,262 0 0
IFM INVTS LTD ADS CL A NEW 45172L209 491 380,708 SH   OTR 1 380,708 0 0
INTERGRATED ELECTRICAL SVC COM 45811E305 134 20,040 SH   SOLE N/A 20,040 0 0
JOY GLOBAL INC COM 481165108 3 53 SH   SOLE N/A 53 0 0
JOY GLOBAL INC COM 481165108 3,400 55,212 SH   OTR 1 55,212 0 0
LSB INDS INC COM 502160104 357 8,573 SH   SOLE N/A 8,573 0 0
LSB INDS INC COM 502160104 17,282 414,743 SH   OTR 1 414,743 0 0
LEUCADIA NATL CORP COM 527288104 597 22,776 SH   SOLE N/A 22,776 0 0
LEUCADIA NATL CORP COM 527288104 16,060 612,493 SH   OTR 1 612,493 0 0
LINCOLN ELEC HLDGS INC COM 533900106 24 350 SH   SOLE N/A 350 0 0
LINCOLN ELEC HLDGS INC COM 533900106 6,972 99,770 SH   OTR 1 99,770 0 0
MANHATTAN BRIDGE CAPITAL INC COM 562803106 34 10,000 SH   SOLE N/A 10,000 0 0
MERCK & CO INC NEW COM 58933Y105 231 4,000 SH   OTR 1 4,000 0 0
MOBILE MINI INC COM 60740F105 47 985 SH   SOLE N/A 985 0 0
MOBILE MINI INC COM 60740F105 1,334 27,852 SH   OTR 1 27,852 0 0
NATIONAL WESTN LIFE INS CO CL A 638522102 36 146 SH   SOLE N/A 146 0 0
NATIONAL WESTN LIFE INS CO CL A 638522102 491 1,967 SH   OTR 1 1,967 0 0
OMNOVA SOLUTIONS INC COM 682129101 126 13,850 SH   SOLE N/A 13,850 0 0
OMNOVA SOLUTIONS INC COM 682129101 12,625 1,388,942 SH   OTR 1 1,388,942 0 0
PHI INC COM VTG 69336T106 622 15,181 SH   OTR 1 15,181 0 0
PICO HLDGS INC COM NEW 693366205 216 9,090 SH   SOLE N/A 9,090 0 0
PICO HLDGS INC COM NEW 693366205 3,065 128,995 SH   OTR 1 128,995 0 0
PANHANDLE OIL AND GAS INC CL A 698477106 3,165 56,493 SH   SOLE N/A 56,493 0 0
PANHANDLE OIL AND GAS INC CL A 698477106 35,130 626,985 SH   OTR 1 626,985 0 0
PIONEER NAT RES CO COM 723787107 34 150 SH   SOLE N/A 150 0 0
PIONEER NAT RES CO COM 723787107 287 1,250 SH   OTR 1 1,250 0 0
PRICESMART INC COM 741511109 260 2,985 SH   SOLE N/A 2,985 0 0
PRICESMART INC COM 741511109 1,655 19,019 SH   OTR 1 19,019 0 0
RADNET INC COM 750491102 37 5,575 SH   SOLE N/A 5,575 0 0
RADNET INC COM 750491102 663 100,000 SH   OTR 1 100,000 0 0
RUBY TUESDAY INC COM 781182100 15 2,025 SH   SOLE N/A 2,025 0 0
RUBY TUESDAY INC COM 781182100 309 40,700 SH   OTR 1 40,700 0 0
SEACOR HOLDINGS INC COM 811904101 146 1,775 SH   SOLE N/A 1,775 0 0
SEACOR HOLDINGS INC COM 811904101 5,943 72,255 SH   OTR 1 72,255 0 0
SENECA FOODS CORP NEW CL A 817070501 173 5,660 SH   SOLE N/A 5,660 0 0
SENECA FOODS CORP NEW CL A 817070501 3,575 116,836 SH   OTR 1 116,836 0 0
SKECHERS U S A INC CL A 830566105 236 5,163 SH   SOLE N/A 5,163 0 0
SKECHERS U S A INC CL A 830566105 4,400 96,290 SH   OTR 1 96,290 0 0
SKYLINE CORP COM 830830105 1 250 SH   SOLE N/A 250 0 0
SKYLINE CORP COM 830830105 406 98,875 SH   OTR 1 98,875 0 0
SPARTAN MTRS INC COM 846819100 52 11,400 SH   OTR 1 11,400 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107 334 20,000 SH   OTR 1 20,000 0 0
STOCK BLDG SUPPLY HLDGS INC COM 86101X104 1,004 50,871 SH   OTR 1 50,871 0 0
TGC INDS INC COM NEW 872417308 50 9,160 SH   SOLE N/A 9,160 0 0
TGC INDS INC COM NEW 872417308 153 28,119 SH   OTR 1 28,119 0 0
TAL INTL GROUP INC COM 874083108 23 525 SH   SOLE N/A 525 0 0
TAL INTL GROUP INC COM 874083108 357 8,050 SH   OTR 1 8,050 0 0
TALISMAN ENERGY INC COM 87425E103 0 27 SH   SOLE N/A 27 0 0
TALISMAN ENERGY INC COM 87425E103 428 40,350 SH   OTR 1 40,350 0 0
TIMKEN CO COM 887389104 547 8,060 SH   OTR 1 8,060 0 0
TURQUOISE HILL RES LTD COM 900435108 168 50,211 SH   OTR 1 50,211 0 0
UCP INC CL A 90265Y106 357 26,150 SH   OTR 1 26,150 0 0
U M H PROPERTIES INC COM 903002103 19 1,850 SH   SOLE N/A 1,850 0 0
U M H PROPERTIES INC COM 903002103 6,977 695,609 SH   OTR 1 695,609 0 0
WESTLAKE SHEM CORP COM 960413102 1,675 20,000 SH   OTR 1 20,000 0 0
WPX ENERGY INC COM 98212B103 1,539 64,350 SH   OTR 1 64,350 0 0