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
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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
AT&T Inc. Com 00206R102 567 17,388 SH   SOLE   0 0 17,388
Abeona Therapeutics Com 00289y107 116 28,612 SH   SOLE   0 0 28,612
Agnico-Eagle Mines Ltd. Com 008474108 496 19,600 SH   SOLE   0 0 19,600
Allegheny Technologies Inc. Com 01741r102 15,990 1,127,635 SH   SOLE   0 0 1,127,635
Alphabet Inc. Cl C Com 02079k107 223 366 SH   SOLE   0 0 366
Alternative Energy Com 02152e200 0 260,000 SH   SOLE   0 0 260,000
Amazon Inc. Com 023135106 259 505 SH   SOLE   0 0 505
Anadarko Petroleum Corp. Com 032511107 300 4,967 SH   SOLE   0 0 4,967
Apple Computer Inc. Com 037833100 1,433 12,988 SH   SOLE   0 0 12,988
Arrow Electronics Inc. Com 042735100 6,984 126,335 SH   SOLE   0 0 126,335
Bank of America Com 060505104 19,655 1,261,576 SH   SOLE   0 0 1,261,576
Berkley W R Corp. Com 084423102 869 15,984 SH   SOLE   0 0 15,984
Berkshire Hathaway Cl B Com 084670702 335 2,566 SH   SOLE   0 0 2,566
Biogen Idec Inc. Com 09062X103 276 946 SH   SOLE   0 0 946
Boulder Brands Inc. Com 101405108 188 23,000 SH   SOLE   0 0 23,000
CSX Corp. Com 126408103 269 10,000 SH   SOLE   0 0 10,000
CYS Investments REIT Com 12673a108 79 10,900 SH   SOLE   0 0 10,900
Capstone Turbine Corp. Com 14067D102 88 260,008 SH   SOLE   0 0 260,008
Carnival Corp Com 143658300 11,862 238,675 SH   SOLE   0 0 238,675
Chataqua Partners LLC Com 1428198 1,749 1,748,660 SH   SOLE   0 0 1,748,660
Chesapeake Energy Corp. Com 165167107 4,923 671,675 SH   SOLE   0 0 671,675
Citigroup Inc. Com 172967424 19,847 400,057 SH   SOLE   0 0 400,057
Coastal South Bankshares Com 190545103 18 11,850 SH   SOLE   0 0 11,850
Colgate-Palmolive Co. Com 194162103 279 4,400 SH   SOLE   0 0 4,400
Cumulus Media Inc. Com 231082108 7 10,450 SH   SOLE   0 0 10,450
E M C Corp. Com 268648102 11,259 466,033 SH   SOLE   0 0 466,033
Eaton Corp. Com 278058102 252 4,908 SH   SOLE   0 0 4,908
Eli Lilly & Co. Com 532457108 495 5,913 SH   SOLE   0 0 5,913
Emerson Electric Co. Com 291011104 309 7,000 SH   SOLE   0 0 7,000
Exxon Mobil Corp. Com 30231g102 1,692 22,762 SH   SOLE   0 0 22,762
Facebook, Inc. Com 30303M102 405 4,500 SH   SOLE   0 0 4,500
Fastenal Company Com 311900104 469 12,800 SH   SOLE   0 0 12,800
Fiserv Inc. Com 337738108 1,126 13,000 SH   SOLE   0 0 13,000
General Electric Co. Com 369604103 17,762 704,297 SH   SOLE   0 0 704,297
General Motors Corp. Com 37045v100 20,279 675,518 SH   SOLE   0 0 675,518
GoldenTree Offshore Cl C Exemp Com 2071622 659 209 SH   SOLE   0 0 209
Goldentree Offshore C 5 F Com 2071621 602 409 SH   SOLE   0 0 409
Goodrich Pete Corp. Com 382410405 12 20,000 SH   SOLE   0 0 20,000
Halliburton Co. Com 406216101 539 15,250 SH   SOLE   0 0 15,250
Heartland Financial Inc. Com 42234q102 327 9,008 SH   SOLE   0 0 9,008
IBM Com 459200101 691 4,768 SH   SOLE   0 0 4,768
Ishares Tr. S&P 500 Index Com 464287200 231 1,200 SH   SOLE   0 0 1,200
J P Morgan Chase Com 46625H100 13,419 220,092 SH   SOLE   0 0 220,092
Johnson & Johnson Com 478160104 736 7,884 SH   SOLE   0 0 7,884
Johnson Controls Inc. Com 478366107 16,402 396,575 SH   SOLE   0 0 396,575
Kinder Morgan Inc. Com 49455P101 257 9,292 SH   SOLE   0 0 9,292
Kohls Corp. Com 500255104 7,808 168,606 SH   SOLE   0 0 168,606
Ladenburg Thalmann Com 50575q102 364 172,747 SH   SOLE   0 0 172,747
MGIC Investment Corp. Com 552848103 3,402 367,335 SH   SOLE   0 0 367,335
McDonalds Corp. Com 580135101 278 2,822 SH   SOLE   0 0 2,822
Medical Marijuana Inc. Com 58463a105 0 15,000 SH   SOLE   0 0 15,000
Merck & Company Com 58933y105 275 5,565 SH   SOLE   0 0 5,565
Metlife Inc. Com 59156R108 18,781 398,326 SH   SOLE   0 0 398,326
Modine Manufacturing Co. Com 607828100 8,787 1,116,550 SH   SOLE   0 0 1,116,550
Netflix Inc. Com 64110l106 207 2,000 SH   SOLE   0 0 2,000
Occidental Petroleum Corp. Com 674599105 240 3,633 SH   SOLE   0 0 3,633
Options Media Group Com 684008105 0 20,000 SH   SOLE   0 0 20,000
Orion Energy System Inc. Com 686275108 28 15,640 SH   SOLE   0 0 15,640
Owens-Illinois Inc. Com 690768403 13,637 658,145 SH   SOLE   0 0 658,145
Penn VA Corp. Com 707882106 5 10,000 SH   SOLE   0 0 10,000
Pepsico Inc. Com 713448108 730 7,740 SH   SOLE   0 0 7,740
Pfizer Inc. Com 717081103 683 21,747 SH   SOLE   0 0 21,747
Procter & Gamble Co. Com 742718109 267 3,705 SH   SOLE   0 0 3,705
Proshares Tr Pshs Shrt S&P 500 Com 74347r503 918 40,800 SH   SOLE   0 0 40,800
Protide Pharmaceutical Com 74371a103 1 10,000 SH   SOLE   0 0 10,000
Range Resources Corp. Com 75281a109 6,145 191,305 SH   SOLE   0 0 191,305
Sabine Oil & Gas Corp. Com 78532p107 0 30,000 SH   SOLE   0 0 30,000
Schlumberger Ltd. Com 806857108 459 6,662 SH   SOLE   0 0 6,662
Sigma Aldrich Corp. Com 826552101 278 2,000 SH   SOLE   0 0 2,000
Sysco Corp. Com 871829107 242 6,200 SH   SOLE   0 0 6,200
Target Corp. Com 87612e106 10,036 127,589 SH   SOLE   0 0 127,589
US Bancorp Com 902973304 2,599 63,364 SH   SOLE   0 0 63,364
Union Pacific Corp. Com 907818108 1,793 20,284 SH   SOLE   0 0 20,284
Verizon Communications Com 92343v104 9,210 211,671 SH   SOLE   0 0 211,671
WA Funding Tr III Escrow Posit Com 939esc968 0 32,000 SH   SOLE   0 0 32,000
WEC Energy Group Inc. Com 976657106 277 5,312 SH   SOLE   0 0 5,312
Wal Mart Stores Inc. Com 931142103 9,924 153,056 SH   SOLE   0 0 153,056
Weatherford Intl. Inc. Com G48833100 8,843 1,042,800 SH   SOLE   0 0 1,042,800
Wells Fargo & Co. Com 949746101 1,619 31,537 SH   SOLE   0 0 31,537