The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| Alliance One International Inc. | COM | 018772103 | 12,908 | 11,734,147 | SH | SOLE | 11,734,147 | 0 | 0 | ||
| American International Group Inc. Warrant | *W EXP 01/19/202 | 026874156 | 4,069 | 185,982 | SH | SOLE | 185,982 | 0 | 0 | ||
| Aspen Insurance Holdings Ltd. | SHS | G05384105 | 5,000 | 105,856 | SH | SOLE | 105,856 | 0 | 0 | ||
| Aurico Gold Inc. | COM | 05155C105 | 4,955 | 1,788,678 | SH | SOLE | 1,788,678 | 0 | 0 | ||
| Avino Silver & Gold Mines | COM | 053906103 | 3,139 | 2,297,792 | SH | SOLE | 2,297,792 | 0 | 0 | ||
| Ballantyne Strong Inc. | COM | 058516105 | 395 | 85,793 | SH | SOLE | 85,793 | 0 | 0 | ||
| Bowl America Inc. - Class A | CL A | 102565108 | 238 | 16,224 | SH | SOLE | 16,224 | 0 | 0 | ||
| BRT Realty Trust | SH BEN INT NEW | 055645303 | 141 | 19,745 | SH | SOLE | 19,745 | 0 | 0 | ||
| California First National Bank Corp. | COM | 130222102 | 3,092 | 224,244 | SH | SOLE | 224,244 | 0 | 0 | ||
| Cloud Peak Energy | COM | 18911q102 | 3,897 | 669,600 | SH | SOLE | 669,600 | 0 | 0 | ||
| Coeur D Alene Mines Corp. | COM NEW | 192108504 | 3,069 | 651,696 | SH | SOLE | 651,696 | 0 | 0 | ||
| Comstock Resources Inc. | COM NEW | 205768203 | 2,141 | 599,687 | SH | SOLE | 599,687 | 0 | 0 | ||
| Delta Apparel Inc. | COM | 247368103 | 11,141 | 905,750 | SH | SOLE | 905,750 | 0 | 0 | ||
| First Federal Northern Michigan Bancorp. | COM | 32021X105 | 212 | 35,640 | SH | SOLE | 35,640 | 0 | 0 | ||
| Frequency Electronics, Inc. | COM | 358010106 | 3,157 | 226,274 | SH | SOLE | 226,274 | 0 | 0 | ||
| Frisch's Restaurants, Inc. | COM | 358748101 | 703 | 25,901 | SH | SOLE | 25,901 | 0 | 0 | ||
| Globus Maritime | COM | Y27265209 | 215 | 178,047 | SH | SOLE | 178,047 | 0 | 0 | ||
| GulfMark Offshore, Inc. | CL A NEW | 402629208 | 2,483 | 190,409 | SH | SOLE | 190,409 | 0 | 0 | ||
| Hardinge Inc. | COM | 412324303 | 4,527 | 390,237 | SH | SOLE | 390,237 | 0 | 0 | ||
| Lubys. Inc. | COM | 549282101 | 1,637 | 315,436 | SH | SOLE | 315,436 | 0 | 0 | ||
| McDermott International Inc. | COM | 580037109 | 6,436 | 1,675,954 | SH | SOLE | 1,675,954 | 0 | 0 | ||
| Mercer International Inc. | COM | 588056101 | 8,332 | 542,452 | SH | SOLE | 542,452 | 0 | 0 | ||
| Mitcham Industies, Inc. | COM | 606501104 | 1,911 | 415,489 | SH | SOLE | 415,489 | 0 | 0 | ||
| Natuzzi S.p.A. | ADR | 63905A101 | 848 | 499,065 | SH | SOLE | 499,065 | 0 | 0 | ||
| Nevsun Resources Ltd. | COM | 64156L101 | 9,458 | 2,789,937 | SH | SOLE | 2,789,937 | 0 | 0 | ||
| Olympic Steel Inc. | COM | 68162K106 | 3,312 | 246,037 | SH | SOLE | 246,037 | 0 | 0 | ||
| Paragon Offshore PLC | SHS | G6S01W108 | 3,503 | 2,694,703 | SH | SOLE | 2,694,703 | 0 | 0 | ||
| Parker Drilling Co. | COM | 701081101 | 5,972 | 1,711,054 | SH | SOLE | 1,711,054 | 0 | 0 | ||
| Photronics Inc. | COM | 719405102 | 9,635 | 1,133,547 | SH | SOLE | 1,133,547 | 0 | 0 | ||
| Resolute Forest Products Inc. | COM | 76117W109 | 9,106 | 527,862 | SH | SOLE | 527,862 | 0 | 0 | ||
| Rio Alto Mining Limited | COM | 76689t104 | 2,744 | 1,113,652 | SH | SOLE | 1,113,652 | 0 | 0 | ||
| Rowan Companies PLC-A | SHS CL A | G7665A101 | 2,091 | 118,100 | SH | SOLE | 118,100 | 0 | 0 | ||
| Rubicon Technology Inc. | COM | 78112T107 | 3,464 | 879,200 | SH | SOLE | 879,200 | 0 | 0 | ||
| Ruby Tuesday | COM | 781182100 | 7,501 | 1,248,120 | SH | SOLE | 1,248,120 | 0 | 0 | ||
| Superior Industries International Inc. | COM | 868168105 | 3,917 | 206,935 | SH | SOLE | 206,935 | 0 | 0 | ||
| Sypris Solutions Inc. | COM | 871655106 | 2,849 | 1,294,991 | SH | SOLE | 1,294,991 | 0 | 0 | ||
| Tecumseh Products Company | COM | 878895309 | 8,527 | 3,056,098 | SH | SOLE | 3,056,098 | 0 | 0 | ||
| U.S. Global Investors | CL A | 902952100 | 953 | 298,123 | SH | SOLE | 298,123 | 0 | 0 | ||
| Universal Stainless & Alloy Products Inc. | COM | 913837100 | 7,244 | 276,279 | SH | SOLE | 276,279 | 0 | 0 | ||
| White Mountains Insurance Group | COM | G9618e107 | 2,462 | 3,597 | SH | SOLE | 3,597 | 0 | 0 | ||
| WPX Energy Inc. | COM | 98212B103 | 6,657 | 609,107 | SH | SOLE | 609,107 | 0 | 0 | ||