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
A. H. BELO CORPORATION CMN SERIES A Common Stock 001282102 219 20,485 SH   SOLE   20,485 0 0
ACI WORLDWIDE INC CMN Common Stock 004498101 225 12,000 SH   SOLE   12,000 0 0
ACTIONS SEMICONDUCTOR CO., LTD*. ADR CMN ADR 00507E107 579 265,683 SH   SOLE   265,683 0 0
ADVANCED MICRO DEVICES INC CMN Common Stock 007903107 341 99,895 SH   SOLE   99,895 0 0
AEP INDUSTRIES INC CMN Common Stock 001031103 1,401 37,000 SH   SOLE   37,000 0 0
AETNA INC CMN Common Stock 00817Y108 405 5,000 SH   SOLE   5,000 0 0
AGILYSYS INC CMN Common Stock 00847J105 264 22,505 SH   SOLE   22,505 0 0
ALLIANCEBERNSTEIN HOLDING LP CMN MLP 01881G106 780 30,000 SH   SOLE   30,000 0 0
AMERCO CMN Common Stock 023586100 733 2,800 SH   SOLE   2,800 0 0
AMERICAN EXPRESS CO. CMN Common Stock 025816109 1,313 15,000 SH   SOLE   15,000 0 0
AMERICAN INTL GROUP, INC. CMN Common Stock 026874784 3,295 61,000 SH   SOLE   61,000 0 0
AMERICAN TOWER CORPORATION CMN REIT 03027X100 1,873 20,000 SH   SOLE   20,000 0 0
AMKOR TECHNOLOGIES INC CMN Common Stock 031652100 93 10,999 SH   SOLE   10,999 0 0
ANADARKO PETROLEUM CORP CMN Common Stock 032511107 203 2,000 SH   SOLE   2,000 0 0
AON PLC CMN Common Stock G0408V102 263 3,000 SH   SOLE   3,000 0 0
APOLLO GLOBAL MANAGEMENT, LLC CMN CLASS A MLP 037612306 238 10,000 SH   SOLE   10,000 0 0
ARLINGTON ASSET INVESTMENT COR*P CMN CLASS A Common Stock 041356205 203 8,001 SH   SOLE   8,001 0 0
ARROW ELECTRONICS INC. CMN Common Stock 042735100 554 10,000 SH   SOLE   10,000 0 0
ASPEN INSURANCE HOLDINGS LTD CMN Common Stock G05384105 1,711 40,000 SH   SOLE   40,000 0 0
ASTA FUNDING INC CMN Common Stock 046220109 1,642 200,000 SH   SOLE   200,000 0 0
AUTODESK INC CMN Common Stock 052769106 551 10,000 SH   SOLE   10,000 0 0
AVID TECHNOLOGY, INC. CMN Common Stock 05367P100 393 38,906 SH   SOLE   38,906 0 0
AVNET INC. CMN Common Stock 053807103 623 15,000 SH   SOLE   15,000 0 0
AXIS CAPITAL HOLDINGS, LTD. CMN Common Stock G0692U109 237 5,000 SH   SOLE   5,000 0 0
BAKER HUGHES INC CMN Common Stock 057224107 651 10,000 SH   SOLE   10,000 0 0
BALTIC TRADING LTD CMN Common Stock Y0553W103 250 60,411 SH   SOLE   60,411 0 0
BANK OF AMERICA CORP CMN Common Stock 060505104 12,958 760,000 SH   SOLE   760,000 0 0
BANK OF MARIN BANCORP CMN Common Stock 063425102 232 5,046 SH   SOLE   5,046 0 0
BEASLEY BROADCAST GROUP INC CMN CLASS A Common Stock 074014101 174 32,469 SH   SOLE   32,469 0 0
BEL FUSE INC CL-B CMN CLASS B Common Stock 077347300 357 14,435 SH   SOLE   14,435 0 0
BENCHMARK ELECTRONICS INC CMN Common Stock 08160H101 222 10,000 SH   SOLE   10,000 0 0
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASSA Common Stock 084670108 44,484 215 SH   SOLE   215 0 0
BLYTH, INC. CMN Common Stock 09643P207 1,791 220,600 SH   SOLE   220,600 0 0
BP P.L.C. SPONSORED ADR CMN ADR 055622104 879 20,000 SH   SOLE   20,000 0 0
BROADWIND ENERGY INC. CMN Common Stock 11161T207 1,033 137,894 SH   SOLE   137,894 0 0
BRUNSWICK CORP. CMN Common Stock 117043109 211 5,000 SH   SOLE   5,000 0 0
C D I CORP CMN Common Stock 125071100 505 34,787 SH   SOLE   34,787 0 0
CAMBREX CORPORATION CMN Common Stock 132011107 187 10,000 SH   SOLE   10,000 0 0
CAMPBELL SOUP CO CMN Common Stock 134429109 855 20,000 SH   SOLE   20,000 0 0
CAPITAL ONE FINANCIAL CORP CMN Common Stock 14040H105 1,632 20,000 SH   SOLE   20,000 0 0
CAREER EDUCATION CORP CMN Common Stock 141665109 489 96,317 SH   SOLE   96,317 0 0
CARRIAGE SERVICES, INC. CMN Common Stock 143905107 3,129 180,557 SH   SOLE   180,557 0 0
CARROLS RESTAURANT GROUP INC CMN Common Stock 14574X104 1,543 217,000 SH   SOLE   217,000 0 0
CECO ENVIRONMENTAL CORP CMN Common Stock 125141101 634 47,293 SH   SOLE   47,293 0 0
CENTRAL GARDEN & PET CO CMN Common Stock 153527106 541 69,767 SH   SOLE   69,767 0 0
CENTRAL GARDEN & PET COMPANY CMN CLASS ANON VOTING SHARES Common Stock 153527205 263 32,764 SH   SOLE   32,764 0 0
CENTURY CASINOS INC CMN Common Stock 156492100 513 100,000 SH   SOLE   100,000 0 0
CF INDUSTRIES HOLDINGS, INC. CMN Common Stock 125269100 279 1,000 SH   SOLE   1,000 0 0
CHESAPEAKE ENERGY CORPORATION CMN Common Stock 165167107 460 20,000 SH   SOLE   20,000 0 0
CITIGROUP, INC. Common Stock 172967424 1 19 SH Put SOLE   19 0 0
CNINSURE INC. SPONSORED ADR CMN ADR 18976M103 554 100,802 SH   SOLE   100,802 0 0
CNO FINANCIAL GROUP INC CMN Common Stock 12621E103 4,494 265,000 SH   SOLE   265,000 0 0
COCA-COLA COMPANY (THE) CMN Common Stock 191216100 1,621 38,000 SH   SOLE   38,000 0 0
COGENT COMMUNICATIONS HLDGS CMN Common Stock 19239V302 672 20,000 SH   SOLE   20,000 0 0
COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A Common Stock 192446102 1,836 41,000 SH   SOLE   41,000 0 0
COMMUNITY HEALTH SYS INC CMN Common Stock 203668108 547 9,982 SH   SOLE   9,982 0 0
CONTINENTAL MATERIALS CORP CMN Common Stock 211615307 411 26,190 SH   SOLE   26,190 0 0
COWEN GROUP, INC. CMN Common Stock 223622101 490 130,734 SH   SOLE   130,734 0 0
CREDIT SUISSE GROUP SPON ADR SPONSORED ADR CMN ADR 225401108 937 33,908 SH   SOLE   33,908 0 0
CSG SYSTEMS INTL INC CMN Common Stock 126349109 789 30,032 SH   SOLE   30,032 0 0
CULP INC CMN Common Stock 230215105 182 10,000 SH   SOLE   10,000 0 0
CVS HEALTH CORP CMN Common Stock 126650100 3,980 50,000 SH   SOLE   50,000 0 0
DANA HOLDING CORPORATION CMN Common Stock 235825205 575 30,000 SH   SOLE   30,000 0 0
DATALINK CORP CMN Common Stock 237934104 143 13,483 SH   SOLE   13,483 0 0
DELUXE CORP CMN Common Stock 248019101 552 10,000 SH   SOLE   10,000 0 0
DESWELL INDUSTRIES INC CMN Common Stock 250639101 110 50,000 SH   SOLE   50,000 0 0
DGT HLDGS CORP CMN Common Stock 23328R206 319 20,000 SH   SOLE   20,000 0 0
DHT HOLDINGS INC CMN Common Stock Y2065G121 560 90,835 SH   SOLE   90,835 0 0
DISCOVER FINANCIAL SERVICES CMN Common Stock 254709108 972 15,100 SH   SOLE   15,100 0 0
DOVER DOWNS GAMING & ENTMT INC CMN Common Stock 260095104 294 297,430 SH   SOLE   297,430 0 0
DOVER MOTORSPORTS INC CMN Common Stock 260174107 172 74,663 SH   SOLE   74,663 0 0
DOVER SADDLERY, INC. CMN Common Stock 260412101 197 38,335 SH   SOLE   38,335 0 0
DST SYSTEM INC COMMON STOCK Common Stock 233326107 755 9,000 SH   SOLE   9,000 0 0
E*TRADE FINANCIAL CORPORATION CMN Common Stock 269246401 226 10,000 SH   SOLE   10,000 0 0
EASTERN VA BANKSHARES INC CMN Common Stock 277196101 234 37,642 SH   SOLE   37,642 0 0
EBAY INC. CMN Common Stock 278642103 2,315 40,879 SH   SOLE   40,879 0 0
EDCI HLDGS INC CMN Common Stock 268315207 105 174,500 SH   SOLE   174,500 0 0
EINSTEIN NOAH RESTAURANT GROUP, INC CMN Common Stock 28257U104 202 10,000 SH   SOLE   10,000 0 0
ENCORE CAPITAL GROUP INC CMN Common Stock 292554102 266 6,000 SH   SOLE   6,000 0 0
ENDURANCE SPECIALTY HLDGS LTD CMN Common Stock G30397106 1,380 25,000 SH   SOLE   25,000 0 0
ENGLOBAL CORPORATION CMN Common Stock 293306106 340 158,168 SH   SOLE   158,168 0 0
ENTEGRIS, INC. CMN Common Stock 29362U104 115 10,000 SH   SOLE   10,000 0 0
ENTERCOM COMMS. CORP CLASS A COMMON STOCK Common Stock 293639100 80 10,000 SH   SOLE   10,000 0 0
ENTRAVISION COMMUNICATIONS CP CMN CLASSA Common Stock 29382R107 2,117 534,527 SH   SOLE   534,527 0 0
EQUIFAX INC CMN Common Stock 294429105 747 10,000 SH   SOLE   10,000 0 0
EVEREST RE GROUP LTD CMN Common Stock G3223R108 810 5,000 SH   SOLE   5,000 0 0
FACEBOOK, INC. CMN CLASS A Common Stock 30303M102 7,801 98,700 SH   SOLE   98,700 0 0
FAIR ISAAC INC CMN Common Stock 303250104 1,102 20,000 SH   SOLE   20,000 0 0
FANNIE MAE COMMON STOCK CMN Common Stock 313586109 108 40,000 SH   SOLE   40,000 0 0
FEDERATED NATL HLDG CO CMN Common Stock 31422T101 702 25,000 SH   SOLE   25,000 0 0
FIESTA RESTAURANT GROUP, INC. CMN Common Stock 31660B101 7,452 150,000 SH   SOLE   150,000 0 0
FIRST CMNTY CORP S C CMN Common Stock 319835104 745 70,000 SH   SOLE   70,000 0 0
FIRST OF LONG ISLAND CORP CMN Common Stock 320734106 241 7,000 SH   SOLE   7,000 0 0
FIRSTMERIT CORP CMN Common Stock 337915102 2,016 114,533 SH   SOLE   114,533 0 0
FIVE STAR QUALITY CARE INC CMN Common Stock 33832D106 607 161,000 SH   SOLE   161,000 0 0
FLAGSTAR BANCORP, INC. CMN Common Stock 337930705 252 15,000 SH   SOLE   15,000 0 0
FLEXSTEEL INDUSTRIES INC CMN Common Stock 339382103 1,855 55,000 SH   SOLE   55,000 0 0
FLIR SYSTEMS INC CMN Common Stock 302445101 627 20,000 SH   SOLE   20,000 0 0
FLUSHING FINANCIAL CORPORATION CMN Common Stock 343873105 201 10,983 SH   SOLE   10,983 0 0
FOSTER WHEELER AG CMN Common Stock H27178104 379 12,000 SH   SOLE   12,000 0 0
FREDDIE MAC CMN Common Stock 313400301 264 100,000 SH   SOLE   100,000 0 0
FTD COMPANIES, INC. CMN Common Stock 30281V108 1,364 40,000 SH   SOLE   40,000 0 0
GANNETT CO.INC. CMN Common Stock 364730101 1,484 50,000 SH   SOLE   50,000 0 0
GENCOR INDUSTRIES INC CMN Common Stock 368678108 597 60,758 SH   SOLE   60,758 0 0
GENERAL CABLE CORP CMN Common Stock 369300108 452 30,000 SH   SOLE   30,000 0 0
GENERAL MOTORS COMPANY CMN Common Stock 37045V100 68 664 SH Put SOLE   664 0 0
GIBRALTAR INDUSTRIES INC CMN Common Stock 374689107 1,917 140,000 SH   SOLE   140,000 0 0
GOLDMAN SACHS GROUP, INC.(THE) CMN Common Stock 38141G104 4,222 23,000 SH   SOLE   23,000 0 0
GOOGLE INC. CMN CLASS A Common Stock 38259P508 1,471 2,500 SH   SOLE   2,500 0 0
GOOGLE INC. CMN CLASS C Common Stock 38259P706 2,021 3,500 SH   SOLE   3,500 0 0
GORDMANS STORES, INC. CMN Common Stock 38269P100 92 26,855 SH   SOLE   26,855 0 0
GRAPHIC PACKAGING HLDGCO CMN Common Stock 388689101 339 27,286 SH   SOLE   27,286 0 0
H & R BLOCK INC. CMN Common Stock 093671105 620 20,000 SH   SOLE   20,000 0 0
H&E EQUIPMENT SERVICES INC CMN Common Stock 404030108 806 20,000 SH   SOLE   20,000 0 0
HANGER INC CMN Common Stock 41043F208 308 15,000 SH   SOLE   15,000 0 0
HANMI FINANCIAL CORPORATION CMN Common Stock 410495204 1,512 75,000 SH   SOLE   75,000 0 0
HARBINGER GROUP INC CMN Common Stock 41146A106 2,725 207,700 SH   SOLE   207,700 0 0
HARDINGE INC. COMMON STOCK Common Stock 412324303 766 70,000 SH   SOLE   70,000 0 0
HARVARD BIOSCIENCE INC CMN Common Stock 416906105 82 20,000 SH   SOLE   20,000 0 0
HAWTHORN BANCSHARES INC CMN Common Stock 420476103 383 27,873 SH   SOLE   27,873 0 0
HCA HOLDINGS, INC. CMN Common Stock 40412C101 5,289 75,000 SH   SOLE   75,000 0 0
HEALTH NET, INC. CMN Common Stock 42222G108 1,844 40,000 SH   SOLE   40,000 0 0
HERTZ GLOBAL HOLDINGS, INC. CMN Common Stock 42805T105 381 15,000 SH   SOLE   15,000 0 0
HOLLYFRONTIER CORP CMN Common Stock 436106108 883 20,214 SH   SOLE   20,214 0 0
HOLLYWOOD MEDIA CORP. CMN Common Stock 436233100 310 241,949 SH   SOLE   241,949 0 0
HOOPER HOLMES INC CMN Common Stock 439104100 362 596,395 SH   SOLE   596,395 0 0
HORACE MANN EDUCATORS CORP CMN Common Stock 440327104 285 10,000 SH   SOLE   10,000 0 0
HORMEL FOODS CORP CMN Common Stock 440452100 514 10,000 SH   SOLE   10,000 0 0
HUBBELL INCORPORATED CLASS B CMN CLASS B Common Stock 443510201 542 4,500 SH   SOLE   4,500 0 0
HUDSON GLOBAL, INC. CMN Common Stock 443787106 95 25,100 SH   SOLE   25,100 0 0
HUNTINGTON BANCSHARES INCORPOR*ATED CMN Common Stock 446150104 1,387 142,600 SH   SOLE   142,600 0 0
HUTTIG BUILDING PRODUCTS INC CMN Common Stock 448451104 2,095 566,276 SH   SOLE   566,276 0 0
INDEPENDENCE HOLDING COMPANY (NEW) Common Stock 453440307 199 15,000 SH   SOLE   15,000 0 0
INDEPENDENT BANK CORP MASS CMN Common Stock 453836108 1,072 30,000 SH   SOLE   30,000 0 0
INFUSYSTEM HOLDINGS, INC. CMN Common Stock 45685K102 3,166 1,008,255 SH   SOLE   1,008,255 0 0
INSTEEL INDUSTRIES INC CMN Common Stock 45774W108 2,056 100,000 SH   SOLE   100,000 0 0
INTEGRATED ELECTRICAL SVC INC CMN Common Stock 45811E301 248 30,000 SH   SOLE   30,000 0 0
INTERTAPE POLYMER GROUP INC CMN Common Stock 460919103 1,016 69,980 SH   SOLE   69,980 0 0
INVESTORS TITLE CO CMN Common Stock 461804106 293 4,000 SH   SOLE   4,000 0 0
JONES LANG LASALLE INC CMN Common Stock 48020Q107 948 7,500 SH   SOLE   7,500 0 0
JOURNAL COMMUNICATIONS INC CMN CLASS A Common Stock 481130102 169 20,000 SH   SOLE   20,000 0 0
JPMORGAN CHASE & CO CMN Common Stock 46625H100 3,072 51,000 SH   SOLE   51,000 0 0
JPMORGAN CHASE & CO CMN Common Stock 46625H100 17 338 SH Put SOLE   338 0 0
JPS INDUSTRIES, INC. CMN Common Stock 46624E405 1,293 202,103 SH   SOLE   202,103 0 0
KELLY SERVICES INC(CL-A) CMN CLASS A Common Stock 488152208 1,054 67,280 SH   SOLE   67,280 0 0
KRAFT FOODS GROUP, INC. CMN Common Stock 50076Q106 1,128 20,000 SH   SOLE   20,000 0 0
KROGER COMPANY CMN Common Stock 501044101 780 15,000 SH   SOLE   15,000 0 0
LANNETT COMPANY, INC. CMN Common Stock 516012101 1,827 40,000 SH   SOLE   40,000 0 0
LEAR CORPORATION CMN Common Stock 521865204 941 10,892 SH   SOLE   10,892 0 0
LEE ENTERPRISES INC CMN Common Stock 523768109 92 27,166 SH   SOLE   27,166 0 0
LIBBEY INC. CMN Common Stock 529898108 263 10,000 SH   SOLE   10,000 0 0
LINCOLN EDL SERVICES CORP CMN Common Stock 533535100 138 49,145 SH   SOLE   49,145 0 0
LKQ CORPORATION CMN Common Stock 501889208 2,659 100,000 SH   SOLE   100,000 0 0
LSI INDUSTRIES INC CMN Common Stock 50216C108 268 44,231 SH   SOLE   44,231 0 0
LUCAS ENERGY, INC. CMN Common Stock 549333201 312 682,280 SH   SOLE   682,280 0 0
LYONDELLBASELL INDUSTRIES N.V. CMN CLASSA Common Stock N53745100 2,173 20,000 SH   SOLE   20,000 0 0
MANPOWER GROUP CMN Common Stock 56418H100 210 3,000 SH   SOLE   3,000 0 0
MARSH & MCLENNAN CO INC CMN Common Stock 571748102 785 15,000 SH   SOLE   15,000 0 0
MASTERCARD INCORPORATED CMN CLASS A Common Stock 57636Q104 4,805 65,000 SH   SOLE   65,000 0 0
MATTEL INC (OPTIONS - PUTS) Common Stock 577081102 59 100 SH   SOLE   100 0 0
MCGRAW-HILL COMPANIES INC CMN Common Stock 580645109 4,223 50,000 SH   SOLE   50,000 0 0
MEDNAX INC CMN Common Stock 58502B106 395 7,200 SH   SOLE   7,200 0 0
MENS WEARHOUSE INC (THE) CMN Common Stock 587118100 4,250 90,000 SH   SOLE   90,000 0 0
MFRI INC CMN Common Stock 552721102 206 21,680 SH   SOLE   21,680 0 0
MICROFINANCIAL INCORPORATED CMN Common Stock 595072109 806 100,000 SH   SOLE   100,000 0 0
MICROSOFT CORPORATION CMN Common Stock 594918104 290 6,260 SH   SOLE   6,260 0 0
MICROSTRATEGY INC CMN CLASS A Common Stock 594972408 327 2,500 SH   SOLE   2,500 0 0
MODUSLINK GLOBAL SOLUTIONS, IN*C CMN Common Stock 60786L107 44 12,208 SH   SOLE   12,208 0 0
MONDELEZ INTERNATIONAL, INC. CMN Common Stock 609207105 2,056 60,000 SH   SOLE   60,000 0 0
MORGAN STANLEY CMN Common Stock 617446448 21,606 625,000 SH   SOLE   625,000 0 0
MOVADO GROUP INC CMN Common Stock 624580106 331 10,000 SH   SOLE   10,000 0 0
MSCI INC. CMN Common Stock 55354G100 940 20,000 SH   SOLE   20,000 0 0
MUELLER WATER PRODUCTS, INC. CMN SERIESA Common Stock 624758108 1,125 135,855 SH   SOLE   135,855 0 0
MULTI-FINELINE ELECTRONIX INC CMN Common Stock 62541B101 109 11,680 SH   SOLE   11,680 0 0
NABORS INDUSTRIES LTD. CMN Common Stock G6359F103 2,015 88,524 SH   SOLE   88,524 0 0
NASDAQ OMX GROUP, INC. CMN Common Stock 631103108 424 10,000 SH   SOLE   10,000 0 0
NATHANS FAMOUS INC CMN Common Stock 632347100 474 7,000 SH   SOLE   7,000 0 0
NATL WESTN LIFE INS CO CL-A CMN CLASS A Common Stock 638522102 371 1,500 SH   SOLE   1,500 0 0
NCI BUILDING SYSTEMS, INC. CMN Common Stock 628852204 582 30,000 SH   SOLE   30,000 0 0
NEW HAMPSHIRE THRIFT BANCSHARES INC Common Stock 644722100 2,863 183,765 SH   SOLE   183,765 0 0
NN INC CMN Common Stock 629337106 267 10,000 SH   SOLE   10,000 0 0
NORANDA ALUMINUM HOLDING CORP CMN Common Stock 65542W107 978 216,354 SH   SOLE   216,354 0 0
NORTHERN TRUST CORP CMN Common Stock 665859104 469 6,900 SH   SOLE   6,900 0 0
OAKTREE CAPITAL GROUP, LLC CMN MLP 674001201 511 10,000 SH   SOLE   10,000 0 0
OMNICOM GROUP CMN Common Stock 681919106 689 10,000 SH   SOLE   10,000 0 0
ON SEMICONDUCTOR CORP CMN Common Stock 682189105 122 13,605 SH   SOLE   13,605 0 0
OPTICAL CABLE CORP CMN Common Stock 683827208 147 32,496 SH   SOLE   32,496 0 0
PAR TECHNOLOGY CORP CMN Common Stock 698884103 187 38,085 SH   SOLE   38,085 0 0
PARKWAY PROPERTIES INC MD CMN REIT 70159Q104 1,077 57,330 SH   SOLE   57,330 0 0
PARTNERRE LTD BERMUDA CMN Common Stock G6852T105 3,648 33,200 SH   SOLE   33,200 0 0
PATTERSON-UTI ENERGY, INC. ORD CMN Common Stock 703481101 1,301 40,000 SH   SOLE   40,000 0 0
PENTAIR PLC. CMN Common Stock H6169Q108 393 6,000 SH   SOLE   6,000 0 0
PEPSICO INC CMN Common Stock 713448108 16,449 176,700 SH   SOLE   176,700 0 0
PERCEPTRON INC CMN Common Stock 71361F100 745 76,103 SH   SOLE   76,103 0 0
PERFECT WORLD CO., LTD. SPONSORED ADR CMN ADR 71372U104 1,081 54,900 SH   SOLE   54,900 0 0
PGT INC CMN Common Stock 69336V101 606 65,000 SH   SOLE   65,000 0 0
PHH CORPORATION CMN Common Stock 693320202 3,354 150,000 SH   SOLE   150,000 0 0
PHILIP MORRIS INTL INC CMN Common Stock 718172109 500 6,000 SH   SOLE   6,000 0 0
PHILLIPS 66 CMN Common Stock 718546104 4,066 50,000 SH   SOLE   50,000 0 0
PHOENIX COMPANIES INC. (THE) CMN Common Stock 71902E604 6,231 111,157 SH   SOLE   111,157 0 0
PLATINUM UNDERWRITERS HLDGS CMN Common Stock G7127P100 7,304 120,000 SH   SOLE   120,000 0 0
PNC FINANCIAL SERVICES GROUP CMN Common Stock 693475105 1,284 15,000 SH   SOLE   15,000 0 0
PPG INDUSTRIES, INC. CMN Common Stock 693506107 2,164 11,000 SH   SOLE   11,000 0 0
PRICESMART INC CMN Common Stock 741511109 214 2,500 SH   SOLE   2,500 0 0
PRIMEENERGY CORP CMN Common Stock 74158E104 366 5,615 SH   SOLE   5,615 0 0
PSYCHEMEDICS CORPORATION CMN Common Stock 744375205 1,111 78,495 SH   SOLE   78,495 0 0
PULTEGROUP INC. CMN Common Stock 745867101 883 50,000 SH   SOLE   50,000 0 0
QC HOLDINGS, INC. CMN Common Stock 74729T101 61 32,740 SH   SOLE   32,740 0 0
R R DONNELLEY & SONS CO CMN Common Stock 257867101 165 10,000 SH   SOLE   10,000 0 0
RAIT FINANCIAL TRUST CMN REIT 749227609 223 30,000 SH   SOLE   30,000 0 0
RCM TECHNOLOGIES INC CMN Common Stock 749360400 162 21,400 SH   SOLE   21,400 0 0
REALOGY HLDGS CORP CMN Common Stock 75605Y106 2,779 74,700 SH   SOLE   74,700 0 0
RENT-A-CENTER INC CMN Common Stock 76009N100 304 10,000 SH   SOLE   10,000 0 0
RESOURCE AMERICA INC CL-A CMN CLASS A Common Stock 761195205 570 61,273 SH   SOLE   61,273 0 0
RITE AID CORP CMN Common Stock 767754104 272 56,300 SH   SOLE   56,300 0 0
ROCKWELL AUTOMATION INC CMN Common Stock 773903109 330 3,000 SH   SOLE   3,000 0 0
RPM INTERNATIONAL INC CMN Common Stock 749685103 1,145 25,000 SH   SOLE   25,000 0 0
SALEM COMMUNICATIONS CL-A CMN CLASS A Common Stock 794093104 153 20,045 SH   SOLE   20,045 0 0
SANMINA-SCI CORPORATION CMN Common Stock 801056102 209 10,000 SH   SOLE   10,000 0 0
SCHOOL SPECIALTY, INC. CMN Common Stock 807864103 2,644 22,221 SH   SOLE   22,221 0 0
SED INTERNATIONAL HLDGS INC CMN Common Stock 784109209 2 10,000 SH   SOLE   10,000 0 0
SERVICE CORP INTERNATL CMN Common Stock 817565104 423 20,000 SH   SOLE   20,000 0 0
SIGA TECHNOLOGIES, INC. CMN Common Stock 826917106 132 91,377 SH   SOLE   91,377 0 0
SINCLAIR BROADCAST GROUP INC CMN CLASS A Common Stock 829226109 261 10,000 SH   SOLE   10,000 0 0
SL INDS INC CMN Common Stock 784413106 3,921 80,316 SH   SOLE   80,316 0 0
SPAR GROUP INC CMN Common Stock 784933103 1,388 907,290 SH   SOLE   907,290 0 0
SPDR GOLD TRUST ETF ETP 78463V107 5,172 44,504 SH   SOLE   44,504 0 0
SPDR S&P 500 ETF TRUST ETP 78462F103 26,598 135,000 SH   SOLE   135,000 0 0
SPIRIT AEROSYSTEMS HOLDINGS INC CMN Common Stock 848574109 381 10,000 SH   SOLE   10,000 0 0
SPOK HOLDINGS INCORPORATED CMN Common Stock 84863T106 260 20,000 SH   SOLE   20,000 0 0
STANLEY FURNITURE INC (NEW) CMN Common Stock 854305208 28 10,000 SH   SOLE   10,000 0 0
STARTEK, INC. CMN Common Stock 85569C107 398 51,323 SH   SOLE   51,323 0 0
STATE STREET CORPORATION (NEW) CMN Common Stock 857477103 6,993 95,000 SH   SOLE   95,000 0 0
STEELCASE INC. CLASS A COMMON STOCK Common Stock 858155203 243 15,000 SH   SOLE   15,000 0 0
STERLING CONSTRUCTION CO INC CMN Common Stock 859241101 103 13,430 SH   SOLE   13,430 0 0
STEWART INFORMATION SVCS CORP CMN Common Stock 860372101 2,348 80,000 SH   SOLE   80,000 0 0
STRATUS PPTYS INC CMN Common Stock 863167201 1,864 133,131 SH   SOLE   133,131 0 0
SUNTRUST BANKS INC $1.00 PAR CMN Common Stock 867914103 761 20,000 SH   SOLE   20,000 0 0
SUPREME INDUSTRIES INC CMN CLASS A Common Stock 868607102 104 13,266 SH   SOLE   13,266 0 0
SURMODICS INC CMN Common Stock 868873100 182 10,000 SH   SOLE   10,000 0 0
SYMETRA FINANCIAL CORPORATION CMN Common Stock 87151Q106 839 35,952 SH   SOLE   35,952 0 0
TECUMSEH PRODUCTS COMPANY CMN Common Stock 878895309 213 49,600 SH   SOLE   49,600 0 0
TEMPUR SEALY INTERNATIONAL INC CMN Common Stock 88023U101 1,123 20,000 SH   SOLE   20,000 0 0
THE BANK OF NY MELLON CORP CMN Common Stock 064058100 3,873 100,000 SH   SOLE   100,000 0 0
TOLL BROTHERS, INC. CMN Common Stock 889478103 3,116 100,000 SH   SOLE   100,000 0 0
TOTAL SYS SVC INC. CMN Common Stock 891906109 310 10,000 SH   SOLE   10,000 0 0
TRINITY BIOTECH PLC SPONSORED ADR CMN ADR 896438306 274 15,000 SH   SOLE   15,000 0 0
TRIPADVISOR, INC. CMN Common Stock 896945201 274 3,000 SH   SOLE   3,000 0 0
TUCOWS, INC. CMN CLASS A Common Stock 898697206 189 12,683 SH   SOLE   12,683 0 0
TYCO INTERNATIONAL LTD CMN Common Stock H89128104 1,114 25,000 SH   SOLE   25,000 0 0
U.S. CONCRETE INC CMN Common Stock 90333L201 1,522 58,211 SH   SOLE   58,211 0 0
U.S. PHYSICAL THERAPY, INC. CMN Common Stock 90337L108 2,477 69,999 SH   SOLE   69,999 0 0
UBS AG CMN Common Stock H89231338 951 54,750 SH   SOLE   54,750 0 0
UNILEVER N.V. NY SHS (NEW) ADR CMN NY Reg Shrs 904784709 1,190 30,000 SH   SOLE   30,000 0 0
UNITED BANCSHARES INC OHIO CMN Common Stock 909458101 861 57,500 SH   SOLE   57,500 0 0
UNITED CONTINENTAL HOLDING INC CMN Common Stock 910047109 3,743 80,000 SH   SOLE   80,000 0 0
UNITED CONTINENTAL HOLDING INC CMN Common Stock 910047109 50 177 SH Call SOLE   177 0 0
UNITED ONLINE, INC. CMN Common Stock 911268209 313 28,571 SH   SOLE   28,571 0 0
UNITED PARCEL SERVICE, INC. CLASS B COMMON STOCK Common Stock 911312106 983 10,000 SH   SOLE   10,000 0 0
UNITED RENTALS, INC. CMN Common Stock 911363109 556 5,000 SH   SOLE   5,000 0 0
UNITED TECHNOLOGIES CORP CMN Common Stock 913017109 264 2,500 SH   SOLE   2,500 0 0
UNITEDHEALTH GROUP INCORPORATE*D CMN Common Stock 91324P102 4,744 55,000 SH   SOLE   55,000 0 0
UNIVERSAL HEALTH SVC CL B CMN CLASS B Common Stock 913903100 1,045 10,000 SH   SOLE   10,000 0 0
UNIVERSAL TECHNICAL INSTITUTE CMN Common Stock 913915104 935 100,000 SH   SOLE   100,000 0 0
VALSPAR CORP CMN Common Stock 920355104 790 10,000 SH   SOLE   10,000 0 0
VERINT SYSTEMS INC CMN Common Stock 92343X100 1,112 20,000 SH   SOLE   20,000 0 0
VERIZON COMMUNICATIONS INC. CMN Common Stock 92343V104 3,499 70,000 SH   SOLE   70,000 0 0
VF CORP CMN Common Stock 918204108 2,113 32,000 SH   SOLE   32,000 0 0
VIAD CORP CMN Common Stock 92552R406 826 40,000 SH   SOLE   40,000 0 0
VIEWTRAN GROUP INC CMN Common Stock 0G936W104 181 100,185 SH   SOLE   100,185 0 0
VISA INC. CMN CLASS A Common Stock 92826C839 4,694 22,000 SH   SOLE   22,000 0 0
W.R. GRACE & CO (NEW) CMN Common Stock 38388F108 2,046 22,500 SH   SOLE   22,500 0 0
WAL MART STORES INC CMN Common Stock 931142103 1,912 25,000 SH   SOLE   25,000 0 0
WALGREEN CO. CMN Common Stock 931422109 1,778 30,000 SH   SOLE   30,000 0 0
WARREN RESOURCES INC. CMN Common Stock 93564A100 1,060 200,000 SH   SOLE   200,000 0 0
WEBCO INDS INC CMN Common Stock 947621207 953 10,707 SH   SOLE   10,707 0 0
WELLCARE HEALTH PLANS INC CMN Common Stock 94946T106 302 5,000 SH   SOLE   5,000 0 0
WHITING PETROLEUM CORPORATION CMN Common Stock 966387102 233 3,000 SH   SOLE   3,000 0 0
WILLDAN GROUP INC CMN Common Stock 96924N100 3,173 219,415 SH   SOLE   219,415 0 0
WILLIS LEASE FINANCE CORP CMN Common Stock 970646105 821 40,000 SH   SOLE   40,000 0 0
XEROX CORPORATION CMN Common Stock 984121103 640 48,400 SH   SOLE   48,400 0 0
YAHOO INC CMN Common Stock 984332106 1,223 30,000 SH   SOLE   30,000 0 0
YELP INC. CMN Common Stock 985817105 4,436 65,000 SH   SOLE   65,000 0 0
YPF SOCIEDAD ANONIMA SPONSORED ADR REPSTG CL D ADR 984245100 370 10,000 SH   SOLE   10,000 0 0