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
LGL GROUP INC W EXP 08/06/2018 50186A116 8 275,595 SH   SOLE   38,100 0 237,495
AMERICAN CAP LTD COM 02503Y103 186 13,150 SH   SOLE   0 0 13,150
ACME UTD CORP COM 004816104 4,367 262,416 SH   SOLE   71,776 0 190,640
AEGION CORP COM 00770F104 13,733 617,232 SH   SOLE   87,750 0 529,482
FEDERAL AGRIC MTG CORP CL C 313148306 27,120 843,809 SH   SOLE   108,263 0 735,546
ANDERSONS INC COM 034164103 6,444 102,474 SH   SOLE   0 0 102,474
ANADARKO PETE CORP COM 032511107 238 2,350 SH   SOLE   0 0 2,350
ADVANCED PHOTONIX INC CL A 00754E107 623 1,132,075 SH   SOLE   1,132,075 0 0
ARI NETWORK SVCS INC COM NEW 001930205 1,653 516,667 SH   SOLE   516,667 0 0
ASTA FDG INC COM 046220109 1,079 131,422 SH   SOLE   65,169 0 66,253
AMERICAN WTR WKS CO INC NEW COM 030420103 34,918 723,993 SH   SOLE   154,000 0 569,993
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 4,478 94,607 SH   SOLE   0 0 94,607
BBCN BANCORP INC COM 073295107 2,925 200,464 SH   SOLE   139,089 0 61,375
BANK COMM HLDGS COM 06424J103 1,638 266,800 SH   SOLE   220,000 0 46,800
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 553 4,004 SH   SOLE   200 0 3,804
CAMBRIDGE CAP ACQUISITION CO COM 13215Q106 485 50,000 SH   SOLE   50,000 0 0
CAMBRIDGE CAP ACQUISITION CO W EXP 12/23/2018 13215Q114 19 50,000 SH   SOLE   50,000 0 0
CENTRAL GARDEN & PET CO COM 153527106 1,070 138,079 SH   SOLE   14,100 0 123,979
CHINA HOUSING & LAND DEV INC COM 16939V103 21 13,581 SH   SOLE   9,020 0 4,561
CHINA FD INC COM 169373107 3,559 170,928 SH   SOLE   439 0 170,489
CHINA CORD BLOOD CORP SHS G21107100 962 196,830 SH   SOLE   0 0 196,830
CHINA PHARMA HLDGS INC COM 16941T104 345 1,376,496 SH   SOLE   772,900 0 603,596
CRAWFORD & CO CL A 224633206 10,388 1,342,098 SH   SOLE   160,154 0 1,181,944
AMERICAS CAR MART INC COM 03062T105 1,732 43,757 SH   SOLE   7,600 0 36,157
CISCO SYS INC COM 17275R102 304 12,066 SH   SOLE   500 0 11,566
CASH AMER INTL INC COM 14754D100 14,731 336,326 SH   SOLE   29,450 0 306,876
CENTURYLINK INC COM 156700106 2,132 52,137 SH   SOLE   800 0 51,337
CUSTOMERS BANCORP INC COM 23204G100 10,896 606,706 SH   SOLE   0 0 606,706
CVS HEALTH CORP COM 126650100 434 5,450 SH   SOLE   0 0 5,450
CPI AEROSTRUCTURES INC COM NEW 125919308 325 33,000 SH   SOLE   0 0 33,000
CHEVRON CORP NEW COM 166764100 221 1,850 SH   SOLE   0 0 1,850
DISCOVER FINL SVCS COM 254709108 2,459 38,192 SH   SOLE   0 0 38,192
DEVRY ED GROUP INC COM 251893103 6,680 156,027 SH   SOLE   0 0 156,027
DESTINATION XL GROUP INC COM 25065K104 2,925 619,607 SH   SOLE   48,300 0 571,307
US ECOLOGY INC COM 91732J102 407 8,700 SH   SOLE   0 0 8,700
EXCEED COMPANY LTD SHS G32335104 1,119 686,365 SH   SOLE   206,750 0 479,615
EDUCATIONAL DEV CORP COM 281479105 271 58,292 SH   SOLE   58,292 0 0
E M C CORP MASS COM 268648102 238 8,125 SH   SOLE   0 0 8,125
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 11,340 205,507 SH   SOLE   4,300 0 201,207
ESSEX RENT CORP COM 297187106 1,983 944,219 SH   SOLE   0 0 944,219
EAST WEST BANCORP INC COM 27579R104 14,740 433,527 SH   SOLE   33,500 0 400,027
EZCORP INC CL A NON VTG 302301106 9,126 920,885 SH   SOLE   0 0 920,885
FARMERS CAP BK CORP COM 309562106 1,090 48,365 SH   SOLE   48,365 0 0
FARMERS NATL BANC CORP COM 309627107 2,643 330,757 SH   SOLE   31,300 0 299,457
FLEXIBLE SOLUTIONS INTL INC COM 33938T104 84 65,250 SH   SOLE   0 0 65,250
FMC TECHNOLOGIES INC COM 30249U101 258 4,750 SH   SOLE   0 0 4,750
LE GAGA HLDGS LTD SPONSORED ADR 521168104 3,558 898,540 SH   SOLE   214,610 0 683,930
STEALTHGAS INC SHS Y81669106 5,360 588,326 SH   SOLE   0 0 588,326
ABERDEEN GTR CHINA FD INC COM 003031101 1,577 152,112 SH   SOLE   0 0 152,112
GENERAL ELECTRIC CO COM 369604103 3,126 122,000 SH   SOLE   0 0 122,000
GENERAL FIN CORP DEL COM 369822101 410 46,241 SH   SOLE   45,291 0 950
GATX CORP COM 361448103 450 7,710 SH   SOLE   0 0 7,710
GENWORTH FINL INC COM CL A 37247D106 11,773 898,687 SH   SOLE   22,600 0 876,087
GP STRATEGIES CORP COM 36225V104 288 10,031 SH   SOLE   0 0 10,031
GENESEE & WYO INC CL A 371559105 491 5,150 SH   SOLE   0 0 5,150
HANMI FINL CORP COM NEW 410495204 467 23,145 SH   SOLE   0 0 23,145
CLAYMORE EXCHANGE TRD FD TR GUGG CHN SML CAP 18383Q853 209 8,000 SH   SOLE   8,000 0 0
HOPFED BANCORP INC COM 439734104 1,386 120,543 SH   SOLE   40,132 0 80,411
HONEYWELL INTL INC COM 438516106 382 4,100 SH   SOLE   0 0 4,100
HORNBECK OFFSHORE SVCS INC N COM 440543106 398 12,150 SH   SOLE   0 0 12,150
HUMANA INC COM 444859102 2,580 19,803 SH   SOLE   0 0 19,803
ISHARES TR CORE S&P MCP ETF 464287507 273 2,000 SH   SOLE   0 0 2,000
INTEST CORP COM 461147100 2,142 449,937 SH   SOLE   47,900 0 402,037
INNOSPEC INC COM 45768S105 15,070 419,766 SH   SOLE   71,200 0 348,566
NEW IRELAND FUND INC COM 645673104 277 21,863 SH   SOLE   10,100 0 11,763
JOHNSON & JOHNSON COM 478160104 507 4,753 SH   SOLE   0 0 4,753
JAPAN SMALLER CAPTLZTN FD IN COM 47109U104 3,829 395,109 SH   SOLE   26,910 0 368,199
JINPAN INTL LTD ORD G5138L100 10,534 1,332,391 SH   SOLE   190,442 0 1,141,949
KOREA EQUITY FD INC COM 50063B104 183 22,155 SH   SOLE   0 0 22,155
KIRBY CORP COM 497266106 365 3,100 SH   SOLE   0 0 3,100
KOREA FD COM NEW 500634209 267 6,424 SH   SOLE   0 0 6,424
KRATON PERFORMANCE POLYMERS COM 50077C106 2,338 131,249 SH   SOLE   0 0 131,249
LGL GROUP INC COM 50186A108 204 54,160 SH   SOLE   6,661 0 47,499
LIQTECH INTL INC COM 53632A102 21 13,900 SH   SOLE   0 0 13,900
LIMONEIRA CO COM 532746104 2,558 107,974 SH   SOLE   23,017 0 84,957
LSB INDS INC COM 502160104 11,625 325,534 SH   SOLE   65,146 0 260,388
MCG CAPITAL CORP COM 58047P107 1,802 512,056 SH   SOLE   1,142 0 510,914
MCDERMOTT INTL INC COM 580037109 192 33,550 SH   SOLE   0 0 33,550
MDU RES GROUP INC COM 552690109 3,777 135,827 SH   SOLE   30,150 0 105,677
MICROFINANCIAL INC COM 595072109 554 68,750 SH   SOLE   0 0 68,750
MFRI INC COM 552721102 2,660 280,021 SH   SOLE   46,882 0 233,139
MOBILE MINI INC COM 60740F105 10,579 302,522 SH   SOLE   0 0 302,522
MILLER INDS INC TENN COM NEW 600551204 714 42,226 SH   SOLE   0 0 42,226
MANITEX INTL INC COM 563420108 9,559 846,700 SH   SOLE   294,720 0 551,980
MARATHON PETE CORP COM 56585A102 370 4,375 SH   SOLE   0 0 4,375
MICROSOFT CORP COM 594918104 606 13,066 SH   SOLE   0 0 13,066
MATRIX SVC CO COM 576853105 14,712 609,960 SH   SOLE   12,600 0 597,360
NATURES SUNSHINE PRODUCTS IN COM 639027101 19,193 1,294,215 SH   SOLE   245,632 0 1,048,583
NORTHERN TECH INTL CORP COM 665809109 991 46,540 SH   SOLE   0 0 46,540
NUTRACEUTICAL INTL CORP COM 67060Y101 4,899 234,293 SH   SOLE   9,697 0 224,596
NV5 HLDGS INC COM 62945V109 6,766 712,266 SH   SOLE   16,600 0 695,666
NATIONAL WESTN LIFE INS CO CL A 638522102 10,150 41,092 SH   SOLE   3,001 0 38,091
OWENS ILL INC COM NEW 690768403 14,348 550,803 SH   SOLE   16,400 0 534,403
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 302 21,300 SH   SOLE   15,800 0 5,500
PFIZER INC COM 717081103 481 16,276 SH   SOLE   500 0 15,776
EPLUS INC COM 294268107 2,130 38,009 SH   SOLE   0 0 38,009
POINTER TELOCATION LTD SHS M7946T104 206 25,000 SH   SOLE   25,000 0 0
PRGX GLOBAL INC COM NEW 69357C503 3,593 613,189 SH   SOLE   106,318 0 506,871
RENT A CTR INC NEW COM 76009N100 20,311 669,226 SH   SOLE   126,401 0 542,825
RENAISSANCERE HOLDINGS LTD COM G7496G103 3,648 36,481 SH   SOLE   0 0 36,481
RRSAT GLOBAL COMM NTWRK LTD SHS M8183P102 1,127 167,031 SH   SOLE   17,688 0 149,343
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 15,944 1,965,995 SH   SOLE   356,232 0 1,609,763
SERVICE CORP INTL COM 817565104 12,242 579,081 SH   SOLE   33,226 0 545,855
SPECTRA ENERGY CORP COM 847560109 689 17,550 SH   SOLE   250 0 17,300
SWIFT ENERGY CO COM 870738101 5,162 537,753 SH   SOLE   77,000 0 460,753
ABERDEEN SINGAPORE FD INC COM 003244100 440 35,396 SH   SOLE   11,031 0 24,365
INVENTURE FOODS INC COM 461212102 12,677 978,143 SH   SOLE   290,726 0 687,417
SPAN AMER MED SYS INC COM 846396109 970 49,847 SH   SOLE   40,009 0 9,838
ST JUDE MED INC COM 790849103 274 4,550 SH   SOLE   0 0 4,550
SUTRON CORP COM 869380105 486 95,569 SH   SOLE   0 0 95,569
SEAGATE TECHNOLOGY PLC SHS G7945M107 10,322 180,226 SH   SOLE   500 0 179,726
TCP INTL HLDGS LTD COM H84689100 1,152 151,145 SH   SOLE   0 0 151,145
TITAN MACHY INC COM 88830R101 3,743 288,153 SH   SOLE   5,600 0 282,553
TOR MINERALS INTL INC COM NEW 890878309 870 104,511 SH   SOLE   104,511 0 0
TRAVELERS COMPANIES INC COM 89417E109 8,923 94,981 SH   SOLE   3,596 0 91,385
TETRA TECH INC NEW COM 88162G103 10,510 420,744 SH   SOLE   51,000 0 369,744
TUPPERWARE BRANDS CORP COM 899896104 19,155 277,441 SH   SOLE   46,450 0 230,991
USA TECHNOLOGIES INC COM NO PAR 90328S500 247 137,000 SH   SOLE   58,000 0 79,000
UNITIL CORP COM 913259107 1,593 51,225 SH   SOLE   0 0 51,225
VIMPELCOM LTD SPONSORED ADR 92719A106 74 10,300 SH   SOLE   10,300 0 0
VOLT INFORMATION SCIENCES IN COM 928703107 4,580 500,545 SH   SOLE   45,346 0 455,199
VOXX INTL CORP CL A 91829F104 5,150 553,763 SH   SOLE   0 0 553,763
WILSHIRE BANCORP INC COM 97186T108 16,145 1,749,206 SH   SOLE   651,755 0 1,097,451
EXXON MOBIL CORP COM 30231G102 475 5,049 SH   SOLE   0 0 5,049
HORSEHEAD HLDG CORP COM 440694305 2,519 152,367 SH   SOLE   0 0 152,367
CHINA ZENIX AUTO INTL LTD ADS 16951E104 205 116,500 SH   SOLE   85,000 0 31,500