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
3M CO COM 88579Y101 614 3,483 SH   SOLE   3,483 0 0
ABBOTT LABS COM 002824100 393 9,300 SH   SOLE   9,300 0 0
ABBVIE INC COM 00287Y109 532 8,429 SH   SOLE   8,429 0 0
ACETO CORP COM 004446100 2,468 129,945 SH   SOLE   129,945 0 0
ADDUS HOMECARE CORP COM 006739106 7,202 275,300 SH   SOLE   275,300 0 0
AEROCENTURY CORP COM 007737109 318 34,047 SH   SOLE   34,047 0 0
AIR INDS GROUP COM NEW 00912N205 225 49,694 SH   SOLE   49,694 0 0
AMERICAN SOFTWARE INC CL A 029683109 5,914 532,817 SH   SOLE   532,817 0 0
AMERIPRISE FINL INC COM 03076C106 294 2,950 SH   SOLE   2,950 0 0
AMGEN INC COM 031162100 539 3,234 SH   SOLE   3,234 0 0
AMREP CORP NEW COM 032159105 714 90,000 SH   SOLE   90,000 0 0
ARI NETWORK SVCS INC COM NEW 001930205 572 128,800 SH   SOLE   128,800 0 0
ASURE SOFTWARE INC COM 04649U102 816 126,883 SH   SOLE   126,883 0 0
AT&T INC COM 00206R102 587 14,459 SH   SOLE   14,459 0 0
ATLAS FINANCIAL HOLDINGS INC SHS NEW G06207115 7,827 496,297 SH   SOLE   496,297 0 0
AXT INC COM 00246W103 9,551 1,840,181 SH   SOLE   1,840,181 0 0
BALLANTYNE STRONG INC COM 058516105 1,190 170,000 SH   SOLE   170,000 0 0
BANKWELL FINL GROUP INC COM 06654A103 2,983 125,900 SH   SOLE   125,900 0 0
BARD C R INC COM 067383109 813 3,625 SH   SOLE   3,625 0 0
BEL FUSE INC CL B 077347300 2,437 100,966 SH   SOLE   100,966 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 3,104 112,000 SH   SOLE   112,000 0 0
BG STAFFING INC COM 05544A109 774 50,000 SH   SOLE   50,000 0 0
BLACKROCK CORE BD TR SHS BEN INT 09249E101 3,116 219,310 SH   SOLE   219,310 0 0
BROCADE COMMUNICATIONS SYS INC COM NEW 111621306 109 11,850 SH   SOLE   11,850 0 0
BSQUARE CORP COM NEW 11776U300 330 67,000 SH   SOLE   67,000 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 138 12,000 SH   SOLE   12,000 0 0
CARLISLE COS INC COM 142339100 354 3,450 SH   SOLE   3,450 0 0
CECO ENVIRONMENTAL CORP COM 125141101 2,577 228,447 SH   SOLE   228,447 0 0
CELSION CORPORATION COM PAR $0.01 15117N404 122 100,000 SH   SOLE   100,000 0 0
CENTURY CASINOS INC COM 156492100 6,213 899,063 SH   SOLE   899,063 0 0
CERAGON NETWORKS LTD ORD M22013102 3,023 1,281,028 SH   SOLE   1,281,028 0 0
CHEROKEE INC DEL NEW COM 16444H102 2,022 196,270 SH   SOLE   196,270 0 0
CISCO SYS INC COM 17275R102 287 9,051 SH   SOLE   9,051 0 0
CITIGROUP INC COM NEW 172967424 323 6,837 SH   SOLE   6,837 0 0
CITY OFFICE REIT INC COM 178587101 2,902 227,995 SH   SOLE   227,995 0 0
COLGATE PALMOLIVE CO COM 194162103 543 7,325 SH   SOLE   7,325 0 0
COMFORT SYS USA INC COM 199908104 2,224 75,885 SH   SOLE   75,885 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 2,521 115,000 SH   SOLE   115,000 0 0
CONCURRENT COMPUTER CORP NEW COM PAR $.01 206710402 446 81,000 SH   SOLE   81,000 0 0
CORE MOLDING TECHNOLOGIES INC COM 218683100 2,811 166,339 SH   SOLE   166,339 0 0
COWEN GROUP INC NEW CL A 223622101 2,666 734,510 SH   SOLE   734,510 0 0
CPI AEROSTRUCTURES INC COM NEW 125919308 3,271 476,887 SH   SOLE   476,887 0 0
CROWN CRAFTS INC COM 228309100 510 50,000 SH   SOLE   50,000 0 0
CRYOLIFE INC COM 228903100 2,613 148,712 SH   SOLE   148,712 0 0
CSX CORP COM 126408103 624 20,460 SH   SOLE   20,460 0 0
CTI INDUSTRIES CORP COM NEW 125961300 604 94,500 SH   SOLE   94,500 0 0
CUTERA INC COM 232109108 474 39,800 SH   SOLE   39,800 0 0
DATA I O CORP COM 237690102 661 187,835 SH   SOLE   187,835 0 0
DATALINK CORP COM 237934104 3,398 320,217 SH   SOLE   320,217 0 0
DELTA APPAREL INC COM 247368103 2,187 132,847 SH   SOLE   132,847 0 0
DHI GROUP INC COM 23331S100 2,051 260,000 SH   SOLE   260,000 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 398 95,000 SH   SOLE   95,000 0 0
DIGIRAD CORP COM 253827109 120 23,600 SH   SOLE   23,600 0 0
DIGITAL TURBINE INC COM NEW 25400W102 210 200,000 SH   SOLE   200,000 0 0
DLH HLDGS CORP COM 23335Q100 1,469 313,282 SH   SOLE   313,282 0 0
DSP GROUP INC COM 23332B106 5,821 484,700 SH   SOLE   484,700 0 0
DYNATRONICS CORP COM NEW 268157401 154 61,400 SH   SOLE   61,400 0 0
EBAY INC COM 278642103 417 12,678 SH   SOLE   12,678 0 0
EMC INS GROUP INC COM 268664109 2,424 90,000 SH   SOLE   90,000 0 0
EMPIRE RES INC DEL COM 29206E100 589 119,778 SH   SOLE   119,778 0 0
ENSIGN GROUP INC COM 29358P101 2,818 140,000 SH   SOLE   140,000 0 0
ENTERPRISE PRODS PARTNERS L P COM 293792107 387 14,000 SH   SOLE   14,000 0 0
EPIQ SYS INC COM 26882D109 2,474 150,000 SH   SOLE   150,000 0 0
EVERI HLDGS INC COM 30034T103 61 24,600 SH   SOLE   24,600 0 0
EVOLVING SYS INC COM NEW 30049R209 623 143,133 SH   SOLE   143,133 0 0
EXACTECH INC COM 30064E109 2,703 100,000 SH   SOLE   100,000 0 0
EXXON MOBIL CORP COM 30231G102 812 9,303 SH   SOLE   9,303 0 0
FARMER BROS CO COM 307675108 6,457 181,637 SH   SOLE   181,637 0 0
FBR & CO COM NEW 30247C400 2,607 196,870 SH   SOLE   196,870 0 0
FEDERAL SIGNAL CORP COM 313855108 1,388 104,700 SH   SOLE   104,700 0 0
FEDEX CORP COM 31428X106 731 4,187 SH   SOLE   4,187 0 0
FINANCIAL SELECT SECTOR SPDR FUND SBI INT-FINL 81369Y605 1,200 62,189 SH   SOLE   62,189 0 0
FIRST INTERNET BANCORP COM 320557101 4,005 173,470 SH   SOLE   173,470 0 0
FLEXIBLE SOLUTIONS INTL INC COM 33938T104 710 320,000 SH   SOLE   320,000 0 0
FLEXSTEEL INDS INC COM 339382103 1,446 27,953 SH   SOLE   27,953 0 0
FNB CORP PA COM 302520101 139 11,300 SH   SOLE   11,300 0 0
FUEL TECH INC COM 359523107 656 468,750 SH   SOLE   468,750 0 0
GENCOR INDS INC COM 368678108 1,309 109,300 SH   SOLE   109,300 0 0
GENERAL MLS INC COM 370334104 445 6,973 SH   SOLE   6,973 0 0
GLOBAL BRASS & COPPR HLDGS INC COM 37953G103 4,906 169,800 SH   SOLE   169,800 0 0
GLOBAL SELF STORAGE INC COM 37955N106 501 95,200 SH   SOLE   95,200 0 0
GLOBALSCAPE INC COM 37940G109 710 200,000 SH   SOLE   200,000 0 0
GP STRATEGIES CORP COM 36225V104 3,764 152,867 SH   SOLE   152,867 0 0
GRAHAM CORP COM 384556106 1,910 100,000 SH   SOLE   100,000 0 0
HANESBRANDS INC COM 410345102 288 11,425 SH   SOLE   11,425 0 0
HARDINGE INC COM 412324303 501 45,000 SH   SOLE   45,000 0 0
HENNESSY ADVISORS INC COM 425885100 4,564 128,678 SH   SOLE   128,678 0 0
HILL INTERNATIONAL INC COM 431466101 5,569 1,208,032 SH   SOLE   1,208,032 0 0
HOME DEPOT INC COM 437076102 352 2,736 SH   SOLE   2,736 0 0
HONEYWELL INTL INC COM 438516106 484 4,152 SH   SOLE   4,152 0 0
HOOPER HOLMES INC COM NEW 439104209 284 225,167 SH   SOLE   225,167 0 0
HOPFED BANCORP INC COM 439734104 560 50,000 SH   SOLE   50,000 0 0
HUDSON TECHNOLOGIES INC COM 444144109 11,333 1,704,250 SH   SOLE   1,704,250 0 0
HURCO COMPANIES INC COM 447324104 702 25,000 SH   SOLE   25,000 0 0
HUTTIG BLDG PRODS INC SPONSORED ADR 448451104 1,754 303,407 SH   SOLE   303,407 0 0
ILLINOIS TOOL WKS INC COM 452308109 678 5,656 SH   SOLE   5,656 0 0
IMMUCELL CORP COM PAR $0.10 452525306 639 82,629 SH   SOLE   82,629 0 0
INFORMATION SERVICES GROUP INC COM 45675Y104 637 159,700 SH   SOLE   159,700 0 0
INNERWORKINGS INC COM 45773Y105 1,884 200,000 SH   SOLE   200,000 0 0
INNODATA INC COM NEW 457642205 2,496 1,006,297 SH   SOLE   1,006,297 0 0
INTEL CORP COM 458140100 490 12,989 SH   SOLE   12,989 0 0
INTEST CORP COM 461147100 422 105,400 SH   SOLE   105,400 0 0
INTL PAPER CO COM 460146103 209 4,366 SH   SOLE   4,366 0 0
INTRICON CORP COM 46121H109 665 115,000 SH   SOLE   115,000 0 0
INTUIT COM 461202103 273 2,486 SH   SOLE   2,486 0 0
INVESTORS BANCORP INC NEW COM 46146L101 166 13,800 SH   SOLE   13,800 0 0
IPASS INC COM 46261V108 4,362 2,676,192 SH   SOLE   2,676,192 0 0
ISHARES CORE S&P 500 ETF COR S&P500 ETF 464287200 224 1,030 SH   SOLE   1,030 0 0
ISHARES EUROPE ETF EUROPE ETF 464287861 1,776 45,107 SH   SOLE   45,107 0 0
ISHARES MSCI EAFE ETF MSCI EAFE ETF 464287465 5,654 95,627 SH   SOLE   95,627 0 0
ISHARES MSCI EMERGING MARKETS ETF MSCI EMG MKT ETF 464287234 3,936 105,106 SH   SOLE   105,106 0 0
ISHARES RUSSELL 2000 ETF RUSSELL 2000 ETF 464287655 1,143 9,206 SH   SOLE   9,205 0 0
ISHARES S&P 500 GROWTH ETF S&P 500 GRWT ETF 464287309 2,424 19,924 SH   SOLE   19,923 0 0
ISHARES S&P MIDCAP FUND CORE S&P MCP ETA 464287507 3,101 20,043 SH   SOLE   20,043 0 0
ISHARES S&P SMALL-CAP FUND CORE S&P SCP ETF 464287804 372 3,000 SH   SOLE   3,000 0 0
ITERIS INC COM 46564T107 728 200,000 SH   SOLE   200,000 0 0
JOHNSON & JOHNSON COM 478160104 599 5,071 SH   SOLE   5,071 0 0
JPMORGAN CHASE & CO COM 46625H100 497 7,459 SH   SOLE   7,459 0 0
JUNIPER PHARMACEUTICALS INC COM 48203L107 155 27,950 SH   SOLE   27,950 0 0
KADANT INC COM 48282T104 1,876 36,000 SH   SOLE   36,000 0 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 710 29,800 SH   SOLE   29,800 0 0
KIMBERLY CLARK CORP COM 494368103 465 3,687 SH   SOLE   3,687 0 0
KINGSTONE COS INC COM 496719105 692 75,000 SH   SOLE   75,000 0 0
KIRKLANDS INC COM 497498105 2,145 176,100 SH   SOLE   176,100 0 0
KMG CHEMICALS INC COM 482564101 5,514 194,642 SH   SOLE   194,642 0 0
KROGER CO COM 501044101 344 11,600 SH   SOLE   11,600 0 0
KVH INDS INC COM 482738101 3,369 382,382 SH   SOLE   382,382 0 0
LANDEC CORP COM 514766104 4,007 298,800 SH   SOLE   298,800 0 0
LIBBEY INC COM 529898108 1,268 71,018 SH   SOLE   71,018 0 0
LSI INDS INC COM 50216C108 3,820 340,173 SH   SOLE   340,173 0 0
MACYS INC COM 55616P104 386 10,425 SH   SOLE   10,425 0 0
MANITEX INTL INC COM 563420108 1,200 217,830 SH   SOLE   217,830 0 0
MATRIX SVC CO COM 576853105 4,081 217,543 SH   SOLE   217,543 0 0
MCBC HLDGS INC COM 55276F107 570 50,000 SH   SOLE   50,000 0 0
MCKESSON CORP COM 58155Q103 634 3,805 SH   SOLE   3,805 0 0
MEDTRONIC PLC SHS G5960L103 364 4,211 SH   SOLE   4,211 0 0
MFRI INC COM 552721102 448 58,507 SH   SOLE   58,507 0 0
MGC DIAGNOSTICS CORP COM 552768103 490 70,000 SH   SOLE   70,000 0 0
MILLER INDS INC TENN COM NEW 600551204 5,424 237,995 SH   SOLE   237,995 0 0
MITCHAM INDS INC COM 606501104 471 141,206 SH   SOLE   141,206 0 0
MOTORCAR PTS AMER INC COM 620071100 4,789 166,400 SH   SOLE   166,400 0 0
NAPCO SEC TECHNOLOGIES INC COM 630402105 431 60,000 SH   SOLE   60,000 0 0
NEVADA GOLD & CASINOS INC COM NEW 64126Q206 269 150,000 SH   SOLE   150,000 0 0
NEWPARK RES INC COM PAR $.01 NEW 651718504 256 34,800 SH   SOLE   34,800 0 0
NEWTEK BUSINESS SVCS CORP COM NEW 652526203 518 36,305 SH   SOLE   36,304 0 0
NORTHERN TECH INTL CORP COM 665809109 3,284 260,600 SH   SOLE   260,600 0 0
NV5 GLOBAL INC COM 62945V109 808 25,000 SH   SOLE   25,000 0 0
OMNOVA SOLUTIONS INC COM 682129101 3,982 471,848 SH   SOLE   471,848 0 0
OPPENHEIMER HLDGS INC CL A NON VTG 683797104 1,977 138,375 SH   SOLE   138,375 0 0
ORACLE CORP COM 68389X105 489 12,455 SH   SOLE   12,455 0 0
ORBOTECH LTD ORD M75253100 210 7,100 SH   SOLE   7,100 0 0
ORCHIDS PAPER PRODS CO DEL COM 68572N104 3,472 127,524 SH   SOLE   127,524 0 0
PACIFIC PREMIER BANCORP COM 69478X105 529 20,000 SH   SOLE   20,000 0 0
PAYPAL HLDGS INC COM 70450Y103 528 12,893 SH   SOLE   12,893 0 0
PCM INC COM 69323K100 6,825 316,837 SH   SOLE   316,837 0 0
PC-TEL INC COM 69325Q105 3,319 627,500 SH   SOLE   627,500 0 0
PDF SOLUTIONS INC COM 693282105 2,946 162,111 SH   SOLE   162,111 0 0
PEPSICO INC COM 713448108 775 7,123 SH   SOLE   7,123 0 0
PFIZER INC COM 717081103 589 17,381 SH   SOLE   17,381 0 0
PGT INC COM 69336V101 3,555 333,150 SH   SOLE   333,150 0 0
PHI INC COM NON VTG 69336T205 2,859 157,344 SH   SOLE   157,344 0 0
PHOTRONICS INC COM 719405102 4,892 474,500 SH   SOLE   474,500 0 0
PIONEER PWR SOLUTIONS INC COM NEW 723836300 945 163,800 SH   SOLE   163,800 0 0
PNC FINL SVCS GROUP INC COM 693475105 214 2,375 SH   SOLE   2,375 0 0
PROCTER AND GAMBLE CO COM 742718109 557 6,202 SH   SOLE   6,202 0 0
PRUDENTIAL FINL INC COM 744320102 456 5,584 SH   SOLE   5,584 0 0
RADIANT LOGISTICS INC COM 75025X100 1,767 622,070 SH   SOLE   622,070 0 0
RCM TECHNOLOGIES INC COM NEW 749360400 218 32,815 SH   SOLE   32,815 0 0
REAL ESTATE SELECT SECTOR SPDR FUND RL EST SEL SEC 81369Y860 282 8,598 SH   SOLE   8,598 0 0
RUDOLPH TECHNOLOGIES INC COM 781270103 3,955 222,950 SH   SOLE   222,950 0 0
SANFILIPPO JOHN B & SON INC COM 800422107 1,966 38,300 SH   SOLE   38,300 0 0
SCHNITZER STL INDS CL A 806882106 2,090 100,000 SH   SOLE   100,000 0 0
SENSUS HEATLHCARE INC COM 81728J109 478 77,763 SH   SOLE   77,763 0 0
SENSUS HEATLHCARE INC *W EXP 06/08/2019 81728J117 64 50,000 SH   SOLE   50,000 0 0
SILVERCREST ASSET MGMT GROUP I CL A 828359109 4,165 350,908 SH   SOLE   350,908 0 0
SITO MOBILE LTD COM NEW 82988R203 550 125,000 SH   SOLE   125,000 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 720 9,450 SH   SOLE   9,450 0 0
SOUTHWEST AIRLS CO COM 844741108 833 21,426 SH   SOLE   21,426 0 0
SPARTON CORP COM 847235108 3,164 120,500 SH   SOLE   120,500 0 0
SPDR S&P 500 ETF COM 78462F103 4,662 21,556 SH   SOLE   21,555 0 0
STANLEY FURNITURE CO INC COM NEW 854305208 356 200,000 SH   SOLE   200,000 0 0
STEALTHGAS INC SHS Y81669106 135 38,900 SH   SOLE   38,900 0 0
STONERIDGE INC COM 86183P102 2,116 115,000 SH   SOLE   115,000 0 0
STRYKER CORP COM 863667101 786 6,750 SH   SOLE   6,750 0 0
SUPERIOR UNIFORM GP INC COM 868358102 2,885 145,764 SH   SOLE   145,764 0 0
SUPREME INDS INC CL A 868607102 965 50,000 SH   SOLE   50,000 0 0
SYNERON MEDICAL LTD ORD SHS M87245102 3,040 424,570 SH   SOLE   424,570 0 0
SYSTEMAX INC COM 871851101 2,702 341,200 SH   SOLE   341,200 0 0
TACTILE SYS TECHNOLOGY INC COM 87357P100 2,068 110,575 SH   SOLE   110,575 0 0
TEAM INC COM 878155100 4,112 125,704 SH   SOLE   125,704 0 0
TECNOGLASS INC SHS G87264100 764 63,450 SH   SOLE   63,450 0 0
TEXAS INSTRS INC COM 882508104 700 9,980 SH   SOLE   9,980 0 0
THESTREET.COM INC COM 88368Q103 385 350,347 SH   SOLE   350,347 0 0
TRANSCAT INC COM 893529107 570 52,147 SH   SOLE   52,147 0 0
TRECORA RES COM 894648104 2,616 229,054 SH   SOLE   229,054 0 0
TRINITY BIOTECH PLC SPON ADR NEW 896438306 761 57,601 SH   SOLE   57,601 0 0
TRISTATE CAP HLDGS INC COM 89678F100 6,678 413,526 SH   SOLE   413,526 0 0
TRIUMPH BANCORP INC COM 89679E300 5,565 280,480 SH   SOLE   280,480 0 0
U.S. AUTO PARTS NETWORK INC COM 90343C100 1,184 360,000 SH   SOLE   360,000 0 0
ULTRA CLEAN HLDGS INC COM 90385V107 1,013 136,750 SH   SOLE   136,750 0 0
ULTRALIFE CORP COM 903899102 206 50,000 SH   SOLE   50,000 0 0
UMH PPTYS INC COM 903002103 1,379 115,725 SH   SOLE   115,725 0 0
UNIQUE FABRICATING INC COM 90915J103 734 60,000 SH   SOLE   60,000 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 104 14,600 SH   SOLE   14,600 0 0
UNITED INS HLDGS CORP COM 910710102 6,032 355,259 SH   SOLE   355,259 0 0
UNITEDHEALTH GROUP COM 91324P102 480 3,430 SH   SOLE   3,430 0 0
USA TECHNOLOGIES INC COM NO PAR 90328S500 841 150,000 SH   SOLE   150,000 0 0
VANGUARD HEALTH CARE HEALTH CAR ETF 92204A504 3,040 22,880 SH   SOLE   22,879 0 0
VANGUARD SHORT-TERM BOND SHORT TRM BOND 921937827 2,767 34,233 SH   SOLE   34,233 0 0
VASCO DATA SEC INTL INC COM 92230Y104 2,059 116,900 SH   SOLE   116,900 0 0
VERITEX HLDGS INC COM 923451108 1,228 70,600 SH   SOLE   70,600 0 0
WAL-MART STORES INC COM 931142103 344 4,765 SH   SOLE   4,765 0 0
WEYCO GROUP INC COM 962149100 2,428 90,360 SH   SOLE   90,360 0 0
WHITESTONE REIT COM 966084204 694 50,000 SH   SOLE   50,000 0 0
WIDEPOINT CORP COM 967590100 217 508,900 SH   SOLE   508,900 0 0
WILLAMETTE VY VINEYARD INC COM 969136100 341 42,691 SH   SOLE   42,691 0 0
WILLDAN GROUP INC COM 96924N100 1,721 98,070 SH   SOLE   98,070 0 0
WINNEBAGO INDS INC COM 974637100 510 21,650 SH   SOLE   21,650 0 0
WISDOMTREE EUROPE EUROPE SMCP DV 97717W869 1,721 31,102 SH   SOLE   31,102 0 0
WISDOMTREE LARGECAP LARGECAP DIVID 97717W307 2,443 31,737 SH   SOLE   31,737 0 0
XCEL BRANDS INC COM NEW 98400M101 687 137,725 SH   SOLE   137,725 0 0
YUM BRANDS INC COM 988498101 782 8,606 SH   SOLE   8,606 0 0
ZAGG INC COM 98884U108 648 80,000 SH   SOLE   80,000 0 0
ZIX CORP COM 98974P100 4,142 1,010,343 SH   SOLE   1,010,343 0 0