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
AK Steel COM 001547108 6,795 1,500 SH   SOLE 0 1,500 0 0
Alliance One International COM 018772103 5,210 200 SH   SOLE 0 200 0 0
American Express COM 025816109 1,811,031 19,415 SH   SOLE 0 19,415 0 0
Apollo Global COM 037612306 150,618 5,085 SH   SOLE 0 5,085 0 0
Apple COM 037833100 3,416,689 20,364 SH   SOLE 0 20,364 0 0
BB&T Corporation COM 054937107 75,094 1,443 SH   SOLE 0 1,443 0 0
Bank of America COM 060505104 1,206,708 40,237 SH   SOLE 0 40,237 0 0
Bank of America WARRANT 060505153 429,094 215,625 SH   SOLE 0 215,625 0 0
Bank of America CONV PREF 060505682 37,394 29 SH   SOLE 0 29 0 0
Bank of America WARRANT 060506146 327,060 18,000 SH   SOLE 0 18,000 0 0
Barnes & Noble COM 067774109 590,263 119,245 SH   SOLE 0 119,245 0 0
Berkshire Hills Bancorp COM 084680107 193,507 5,099 SH   SOLE 0 5,099 0 0
Boeing COM 097023105 6,665,473 20,329 SH   SOLE 0 20,329 0 0
Caterpillar COM 149123101 2,863,741 19,431 SH   SOLE 0 19,431 0 0
Central Valley Community Bancorp COM 155685100 487,866 24,942 SH   SOLE 0 24,942 0 0
Chesapeake Energy COM 165167107 6,662 2,206 SH   SOLE 0 2,206 0 0
Chevron COM 166764100 2,818,924 24,719 SH   SOLE 0 24,719 0 0
Choiceone Financial COM 170386106 15,408 604 SH   SOLE 0 604 0 0
Citigroup WARRANT 172967226 76,040 1,653,040 SH   SOLE 0 1,653,040 0 0
Citigroup COM 172967424 831,533 12,319 SH   SOLE 0 12,319 0 0
Citizens Financial Group COM 174610105 669,581 15,950 SH   SOLE 0 15,950 0 0
Citizens Community Bancorp COM 174903104 1,593,414 113,704 SH   SOLE 0 113,704 0 0
Civista Bancshares COM 178867107 1,543,644 67,526 SH   SOLE 0 67,526 0 0
Coca-Cola COM 191216100 906,732 20,878 SH   SOLE 0 20,878 0 0
Codorus Bancorp Inc. COM 192025104 1,128,840 40,144 SH   SOLE 0 40,144 0 0
Walt Disney COM 254687106 2,008,935 20,001 SH   SOLE 0 20,001 0 0
El Pollo Loco Holdings COM 268603107 680,248 71,605 SH   SOLE 0 71,605 0 0
Enterprise Products Partners COM 293792107 2,989,644 122,126 SH   SOLE 0 122,126 0 0
EZCORP COM 302301106 45,738 3,465 SH   SOLE 0 3,465 0 0
F.N.B. Corporation COM 302520101 113,572 8,444 SH   SOLE 0 8,444 0 0
Federal Agricultural Mortgage COM 313148306 34,808 400 SH   SOLE 0 400 0 0
Freddie Mac PREF STK 313400640 721,238 155,105 SH   SOLE 0 155,105 0 0
Fannie Mae PREF STK 313586752 11,500 2,000 SH   SOLE 0 2,000 0 0
Fifth Third Bancorp COM 316773100 357,981 11,275 SH   SOLE 0 11,275 0 0
First Bancorp COM 318910106 402,498 11,290 SH   SOLE 0 11,290 0 0
First Bancshares COM 318916103 1,770,880 54,911 SH   SOLE 0 54,911 0 0
First Commonwealth Financial COM 319829107 158,722 11,233 SH   SOLE 0 11,233 0 0
First Community Corp COM 319835104 1,394,038 60,875 SH   SOLE 0 60,875 0 0
Ford COM 345370860 27,058 2,442 SH   SOLE 0 2,442 0 0
FreightCar America COM 357023100 567,651 42,362 SH   SOLE 0 42,362 0 0
General Electric COM 369604103 531,327 39,416 SH   SOLE 0 39,416 0 0
Genesis Energy COM 371927104 2,042,922 103,649 SH   SOLE 0 103,649 0 0
Haverty Furniture COM 419596101 865,745 42,965 SH   SOLE 0 42,965 0 0
Hawaiian Holdings COM 419879101 101,820 2,631 SH   SOLE 0 2,631 0 0
Hawthorn Bancshares COM 420476103 521,104 25,249 SH   SOLE 0 25,249 0 0
Hi Crush Partners COM 428337109 14,840 1,400 SH   SOLE 0 1,400 0 0
Holly Energy Partners COM 435763107 2,306,258 83,651 SH   SOLE 0 83,651 0 0
Home Depot COM 437076102 3,599,913 20,197 SH   SOLE 0 20,197 0 0
HopFed Bancorp COM 439734104 315,483 21,683 SH   SOLE 0 21,683 0 0
Independent Bank COM 453838609 1,151,281 50,274 SH   SOLE 0 50,274 0 0
Intel COM 458140100 1,118,730 21,481 SH   SOLE 0 21,481 0 0
IBM COM 459200101 3,016,741 19,662 SH   SOLE 0 19,662 0 0
iShares MSCI Emerging Markets COM 464287234 367,652 7,615 SH   SOLE 0 7,615 0 0
iShares DJ US Financial Sector COM 464287788 562,425 4,774 SH   SOLE 0 4,774 0 0
Johnson & Johnson COM 478160104 2,772,782 21,637 SH   SOLE 0 21,637 0 0
Lannett COM 516012101 784,636 48,887 SH   SOLE 0 48,887 0 0
MDC Holdings COM 552676108 982,561 35,192 SH   SOLE 0 35,192 0 0
MVB Financial Corp COM 553810102 814,036 41,217 SH   SOLE 0 41,217 0 0
Magellan Midstream COM 559080106 4,770,579 81,758 SH   SOLE 0 81,758 0 0
McDermott International COM 580037109 967,476 158,863 SH   SOLE 0 158,863 0 0
McDonalds COM 580135101 3,234,095 20,681 SH   SOLE 0 20,681 0 0
Microsoft Corporation COM 594918104 2,008,693 22,008 SH   SOLE 0 22,008 0 0
Midsouth Bancorp COM 598039105 276,023 21,820 SH   SOLE 0 21,820 0 0
MidWest One Financial COM 598511103 340,523 10,229 SH   SOLE 0 10,229 0 0
NMI Holdings COM 629209305 2,115,338 127,815 SH   SOLE 0 127,815 0 0
Nike COM 654106103 1,288,006 19,386 SH   SOLE 0 19,386 0 0
Oaktree Capital COM 674001201 123,156 3,110 SH   SOLE 0 3,110 0 0
Old National Bancorp COM 680033107 1,225,903 72,539 SH   SOLE 0 72,539 0 0
ONEOK COM 682680103 4,641,113 81,537 SH   SOLE 0 81,537 0 0
Opus Bank COM 684000102 1,121,960 40,070 SH   SOLE 0 40,070 0 0
Parke Bancorp COM 700885106 955,074 45,917 SH   SOLE 0 45,917 0 0
Peoples Bancorp of NC COM 710577107 1,305,324 42,491 SH   SOLE 0 42,491 0 0
PetroQuest Energy COM 716748108 1,452 2,500 SH   SOLE 0 2,500 0 0
PetroQuest Energy CONV PREF 716748207 851,336 60,432 SH   SOLE 0 60,432 0 0
Pfizer COM 717081103 850,447 23,963 SH   SOLE 0 23,963 0 0
Phillips 66 Partners COM 718549207 2,530,095 52,953 SH   SOLE 0 52,953 0 0
Plains All American Pipeline COM 726503105 290,994 13,209 SH   SOLE 0 13,209 0 0
Procter & Gamble COM 742718109 1,686,127 21,268 SH   SOLE 0 21,268 0 0
RAIT Financial Trust COM 749227609 8,810 54,550 SH   SOLE 0 54,550 0 0
Rice Midstream Partners COM 762819100 3,871,843 213,914 SH   SOLE 0 213,914 0 0
A. Schulmann CONV PREF 808194302 3,029,445 2,927 SH   SOLE 0 2,927 0 0
Shell Midstream Partners COM 822634101 1,697,030 80,619 SH   SOLE 0 80,619 0 0
Southern National Bancorp COM 843395104 1,488,286 93,957 SH   SOLE 0 93,957 0 0
Southwestern Energy COM 845467109 4,330 1,000 SH   SOLE 0 1,000 0 0
SunPower Corporation COM 867652406 1,883 236 SH   SOLE 0 236 0 0
SunTrust Banks COM 867914103 673,150 9,893 SH   SOLE 0 9,893 0 0
Superior Industries COM 868168105 699,696 52,609 SH   SOLE 0 52,609 0 0
Timberland Bancorp COM 887098101 30,400 1,000 SH   SOLE 0 1,000 0 0
Toll Brothers COM 889478103 8,650 200 SH   SOLE 0 200 0 0
Triumph Group COM 896818101 960,246 38,105 SH   SOLE 0 38,105 0 0
Umpqua Holdings COM 904214103 21,410 1,000 SH   SOLE 0 1,000 0 0
Unisys Corp COM 909214306 699,288 65,050 SH   SOLE 0 65,050 0 0
United Bancshares COM 909458101 1,036,261 47,103 SH   SOLE 0 47,103 0 0
United Technologies COM 913017109 2,437,637 19,374 SH   SOLE 0 19,374 0 0
Wal-Mart COM 931142103 1,779,578 20,002 SH   SOLE 0 20,002 0 0
Webco Industries COM 947621207 9,500 100 SH   SOLE 0 100 0 0
Williams Companies COM 969457100 2,025,003 81,456 SH   SOLE 0 81,456 0 0
Zions Bancorp COM 989701107 771,493 14,631 SH   SOLE 0 14,631 0 0
Zions Bancorp WARRANT 989701115 242,341 11,938 SH   SOLE 0 11,938 0 0
Travelers COM 89417e109 2,704,576 19,477 SH   SOLE 0 19,477 0 0
A T & T COM 00206r102 179,426 5,033 SH   SOLE 0 5,033 0 0
Aceto CONV BOND 004446AD2 1,725,759 1,970,000 PRN   SOLE 0 1,970,000 0 0
Alaska Communications COM 01167p101 1,024,731 569,295 SH   SOLE 0 569,295 0 0
Alaska Communications CONV BOND 01167pae1 3,755,894 3,695,000 PRN   SOLE 0 3,695,000 0 0
Alliance Holdings COM 01861g100 3,718,787 148,692 SH   SOLE 0 148,692 0 0
Alliance Resource Partners COM 01877r108 51,185 2,900 SH   SOLE 0 2,900 0 0
American Airlines Group COM 02376R102 734,039 14,127 SH   SOLE 0 14,127 0 0
AmeriServ Financial COM 03074a102 742,865 185,716 SH   SOLE 0 185,716 0 0
Andeavor Logistics COM 03350f106 1,991,536 44,444 SH   SOLE 0 44,444 0 0
Antero Midstream COM 03673l103 2,575,123 99,464 SH   SOLE 0 99,464 0 0
Arcbest COM 03937c105 1,043,067 32,545 SH   SOLE 0 32,545 0 0
Archrock Partners COM 03957u100 1,335,255 109,268 SH   SOLE 0 109,268 0 0
Atlas Air Worldwide CONV BOND 049164BH8 1,744,965 1,530,000 PRN   SOLE 0 1,530,000 0 0
BP Midstream COM 0556EL109 1,455,833 81,605 SH   SOLE 0 81,605 0 0
Banc of California COM 05990k106 3,831,730 198,535 SH   SOLE 0 198,535 0 0
Blackstone Group COM 09253u108 161,348 5,050 SH   SOLE 0 5,050 0 0
Carlyle Group COM 14309l102 137,281 6,430 SH   SOLE 0 6,430 0 0
Chesapeake Energy CONV BOND 165167CY1 2,893,296 3,360,000 PRN   SOLE 0 3,360,000 0 0
Cisco Systems COM 17275r102 870,538 20,297 SH   SOLE 0 20,297 0 0
Contura Energy COM 21241b100 696,800 10,400 SH   SOLE 0 10,400 0 0
Contura Energy WARRANT 21241b118 24,939 978 SH   SOLE 0 978 0 0
DR Horton COM 23331a109 10,960 250 SH   SOLE 0 250 0 0
Delek Logistics COM 24664t103 1,953,854 68,919 SH   SOLE 0 68,919 0 0
Direxion Daily S&P 500 Bull 3X COM 25459w862 72,258 1,750 SH   SOLE 0 1,750 0 0
Direxion Daily Small Cap Bear 3X ETF COM 25490k521 4,740 400 SH   SOLE 0 400 0 0
DowDuPont Inc. COM 26078j100 1,289,678 20,243 SH   SOLE 0 20,243 0 0
EOG Resources COM 26875p101 26,318 250 SH   SOLE 0 250 0 0
Eagle Bancorp Montana Inc COM 26942g100 1,015,215 48,926 SH   SOLE 0 48,926 0 0
Energy Transfer Partners COM 29273R109 109,631 6,759 SH   SOLE 0 6,759 0 0
Energy Transfer Equity COM 29273v100 182,487 12,842 SH   SOLE 0 12,842 0 0
EnLink Midstream LLC COM 29336t100 997,256 68,072 SH   SOLE 0 68,072 0 0
EnLink Midstream Partners LP COM 29336u107 3,101,735 227,067 SH   SOLE 0 227,067 0 0
Essa Bancorp COM 29667d104 1,063,810 72,516 SH   SOLE 0 72,516 0 0
EZCorp CONV BOND 302301AB2 3,637,879 3,460,000 PRN   SOLE 0 3,460,000 0 0
Exxon Mobil COM 30231g102 1,705,361 22,857 SH   SOLE 0 22,857 0 0
1st Constitution Bancorp COM 31986n102 270,657 12,444 SH   SOLE 0 12,444 0 0
First United Corp COM 33741h107 1,408,627 73,366 SH   SOLE 0 73,366 0 0
First US Bancshares COM 33744v103 117,421 10,264 SH   SOLE 0 10,264 0 0
General Cable CONV BOND 369300al2 1,738,072 1,640,000 PRN   SOLE 0 1,640,000 0 0
General Motors COM 37045v100 14,536 400 SH   SOLE 0 400 0 0
Global Eagle Entertainment CONV BOND 37951DAB8 1,242,683 2,010,000 PRN   SOLE 0 2,010,000 0 0
Goldman Sachs COM 38141g104 4,898,425 19,449 SH   SOLE 0 19,449 0 0
HMN Financial COM 40424g108 927,036 49,975 SH   SOLE 0 49,975 0 0
Homestreet COM 43785u102 639,898 22,335 SH   SOLE 0 22,335 0 0
Horizon Global CONV BOND 44052WAA2 2,021,547 2,465,000 PRN   SOLE 0 2,465,000 0 0
Horsehead Holdings WARRANT 44069P118 153,278 3,406 SH   SOLE 0 3,406 0 0
Invensense CONV BOND 46123DAB2 547,913 570,000 PRN   SOLE 0 570,000 0 0
Iridium Communications COM 46269c102 3,272,085 290,852 SH   SOLE 0 290,852 0 0
Iridium Communications CONV PREF 46269c409 1,159,365 3,000 SH   SOLE 0 3,000 0 0
JPMorgan COM 46625h100 2,566,480 23,338 SH   SOLE 0 23,338 0 0
Jones Energy CONV PREF 48019R207 10,800 600 SH   SOLE 0 600 0 0
KKR COM 48248m102 138,548 6,825 SH   SOLE 0 6,825 0 0
KB HOME CONV BOND 48666KAS8 2,140,142 1,890,000 PRN   SOLE 0 1,890,000 0 0
Kimball Electronics COM 49428j109 1,246,699 77,195 SH   SOLE 0 77,195 0 0
Kinder Morgan COM 49456b101 636,404 42,258 SH   SOLE 0 42,258 0 0
LGI Homes COM 50187t106 1,197,926 16,975 SH   SOLE 0 16,975 0 0
MPLX COM 55336v100 3,364,738 101,838 SH   SOLE 0 101,838 0 0
Macquarie Infrastructure CONV BOND 55608BAB1 1,911,213 2,155,000 PRN   SOLE 0 2,155,000 0 0
Macys COM 55616p104 11,896 400 SH   SOLE 0 400 0 0
Merck COM 58933y105 1,148,718 21,089 SH   SOLE 0 21,089 0 0
Meritage Homes COM 59001a102 4,525 100 SH   SOLE 0 100 0 0
MutualFirst Financial COM 62845b104 1,146,478 31,627 SH   SOLE 0 31,627 0 0
NGL Energy Partners COM 62913M107 3,807,889 346,172 SH   SOLE 0 346,172 0 0
Navistar CONV BOND 63934eaq1 1,488,077 1,450,000 PRN   SOLE 0 1,450,000 0 0
Peoples Financial COM 71103b102 1,165,076 84,121 SH   SOLE 0 84,121 0 0
Plains GP Holdings COM 72651a207 1,378,303 63,370 SH   SOLE 0 63,370 0 0
Premier Financial Bancorp COM 74050m105 1,225,359 65,844 SH   SOLE 0 65,844 0 0
QCR Holdings COM 74727a104 4,933,411 109,998 SH   SOLE 0 109,998 0 0
QEP Resources COM 74733v100 14,685 1,500 SH   SOLE 0 1,500 0 0
RAIT Financial CONV BOND 749227AB0 440,477 465,000 PRN   SOLE 0 465,000 0 0
Rent-A-Center COM 76009n100 442,935 51,325 SH   SOLE 0 51,325 0 0
Royal Gold CONV BOND 780287AA6 955,327 905,000 PRN   SOLE 0 905,000 0 0
SB Financial Group, Inc. COM 78408d105 3,406,962 184,110 SH   SOLE 0 184,110 0 0
SPDR S&P 600 Small Cap Value COM 78464a300 649,958 5,263 SH   SOLE 0 5,263 0 0
SPDR Dow Jones Industrial COM 78467x109 8,666,090 35,899 SH   SOLE 0 35,899 0 0
Sandridge Energy WARRANT 80007p125 2,014 4,028 SH   SOLE 0 4,028 0 0
SandRidge Energy COM 80007p869 952,872 65,670 SH   SOLE 0 65,670 0 0
SemGroup Corp COM 81663a105 51,510 2,407 SH   SOLE 0 2,407 0 0
Sterling Bancorp COM 85917a100 558,586 24,771 SH   SOLE 0 24,771 0 0
Summit Financial Group COM 86606g101 2,682,648 107,263 SH   SOLE 0 107,263 0 0
Sunpower CONV BOND 867652AJ8 1,190,732 1,545,000 PRN   SOLE 0 1,545,000 0 0
Sunpower Corp CONV BOND 867652AL3 795,600 1,000,000 PRN   SOLE 0 1,000,000 0 0
Targa Resources Corp COM 87612g101 3,329,539 75,671 SH   SOLE 0 75,671 0 0
3M COM 88579y101 4,252,980 19,374 SH   SOLE 0 19,374 0 0
Titan Machinery CONV BOND 88830RAB7 2,294,836 2,302,000 PRN   SOLE 0 2,302,000 0 0
Transmontaigne Partners COM 89376v100 2,541,233 71,004 SH   SOLE 0 71,004 0 0
Two River Bancorp COM 90207c105 1,089,901 60,382 SH   SOLE 0 60,382 0 0
UnitedHealth Group COM 91324p102 4,208,096 19,664 SH   SOLE 0 19,664 0 0
Uniti Group COM 91325v108 571,269 35,155 SH   SOLE 0 35,155 0 0
Verizon Communications COM 92343v104 1,047,258 21,900 SH   SOLE 0 21,900 0 0
Visa COM 92826c839 2,324,097 19,429 SH   SOLE 0 19,429 0 0
Williams Partners COM 96949L105 3,362,365 97,658 SH   SOLE 0 97,658 0 0
Wintrust Financial COM 97650w108 2,510,509 29,175 SH   SOLE 0 29,175 0 0
WPX Energy COM 98212b103 68,426 4,630 SH   SOLE 0 4,630 0 0
Xerium Technologies COM 98416j118 488,339 75,711 SH   SOLE 0 75,711 0 0
Aircastle LTD COM g0129k104 1,512,498 76,158 SH   SOLE 0 76,158 0 0
Energy XXI COM g10082140 30,336 7,900 SH   SOLE 0 7,900 0 0
Bunge CONV PREF g16962204 2,190,624 20,103 SH   SOLE 0 20,103 0 0
Seagate Technology COM G7945M107 11,704 200 SH   SOLE 0 200 0 0
Genco Shipping WARRANT y2685t123 25,484 62,155 SH   SOLE 0 62,155 0 0
Genco Shipping COM y2685t131 359,908 25,309 SH   SOLE 0 25,309 0 0
Navios Maritime Acquisition COM y62159101 9,240 11,000 SH   SOLE 0 11,000 0 0
Navios Maritime Holdings COM y62196103 312,281 347,790 SH   SOLE 0 347,790 0 0
Navios Maritime Partners COM y62267102 16,380 9,100 SH   SOLE 0 9,100 0 0
Teekay LNG Partners COM y8564m105 2,634,773 147,194 SH   SOLE 0 147,194 0 0
Teekay Inc COM y8564w103 1,333,604 164,846 SH   SOLE 0 164,846 0 0
Teekay Offshore Partners COM y8565j101 21,013 9,257 SH   SOLE 0 9,257 0 0