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 |
| Alaska Communications System | COM | 01167P101 | 7,450 | 4,026,925 | SH | SOLE | 3,967,998 | 58,927 | 0 | ||
| Alliance One International Inc. | COM NEW | 018772301 | 10,750 | 836,557 | SH | SOLE | 827,536 | 9,021 | 0 | ||
| Ardmore Shipping Corp. | COM | Y0207T100 | 1,302 | 161,766 | SH | SOLE | 159,322 | 2,444 | 0 | ||
| Bowl America Inc. - Class A | COM CL A | 102565108 | 237 | 16,224 | SH | SOLE | 16,224 | 0 | 0 | ||
| Citi Trends Inc. | COM | 17306X102 | 1,967 | 115,686 | SH | SOLE | 113,959 | 1,727 | 0 | ||
| Conifer Holdings, Inc. | COM | 20731J102 | 5,012 | 686,614 | SH | SOLE | 676,250 | 10,364 | 0 | ||
| CSI Compressco LP. | COM UNIT | 12637A103 | 490 | 50,000 | SH | SOLE | 50,000 | 0 | 0 | ||
| Delta Apparel Inc. | COM | 247368103 | 6,224 | 353,007 | SH | SOLE | 347,866 | 5,141 | 0 | ||
| First Federal Northern Michigan Bancorp. | COM | 32021X105 | 278 | 35,640 | SH | SOLE | 35,640 | 0 | 0 | ||
| Fly Leasing LTD-ADR | Sponsored ADR | 34407D109 | 6,179 | 470,962 | SH | SOLE | 463,861 | 7,101 | 0 | ||
| Hardinge Inc. | COM | 412324303 | 2,811 | 250,056 | SH | SOLE | 247,256 | 2,800 | 0 | ||
| Iamgold Corp. | COM | 450913108 | 1,463 | 365,770 | SH | SOLE | 360,294 | 5,476 | 0 | ||
| Lubys. Inc. | COM | 549282101 | 437 | 140,570 | SH | SOLE | 140,570 | 0 | 0 | ||
| McDermott International Inc. | COM | 580037109 | 3,094 | 458,376 | SH | SOLE | 451,599 | 6,777 | 0 | ||
| Mercer International Inc. | COM | 588056101 | 4,452 | 380,472 | SH | SOLE | 375,625 | 4,847 | 0 | ||
| Mitcham Industies, Inc. | COM | 606501104 | 4,362 | 890,187 | SH | SOLE | 879,157 | 11,030 | 0 | ||
| Natuzzi S.p.A. | ADR | 63905A101 | 1,118 | 389,065 | SH | SOLE | 382,265 | 6,800 | 0 | ||
| Nevsun Resources Ltd. | COM | 64156L101 | 2,863 | 1,118,205 | SH | SOLE | 1,100,856 | 17,349 | 0 | ||
| Parker Drilling Co. | COM | 701081101 | 2,064 | 1,179,209 | SH | SOLE | 1,161,276 | 17,933 | 0 | ||
| Pershing Gold Coporation | COM NEW | 715302204 | 624 | 219,652 | SH | SOLE | 216,302 | 3,350 | 0 | ||
| Photronics Inc. | COM | 719405102 | 2,656 | 248,202 | SH | SOLE | 244,714 | 3,488 | 0 | ||
| Resolute Forest Products Inc. | COM | 76117W109 | 8,628 | 1,583,164 | SH | SOLE | 1,559,051 | 24,113 | 0 | ||
| Ruby Tuesday | COM | 781182100 | 110 | 39,027 | SH | SOLE | 30,161 | 8,866 | 0 | ||
| Sypris Solutions Inc. | COM | 871655106 | 728 | 687,197 | SH | SOLE | 678,066 | 9,131 | 0 | ||
| Timmins Gold Corp. | COM | 88741P103 | 634 | 1,685,481 | SH | SOLE | 1,660,114 | 25,367 | 0 | ||
| U.S. Global Investors | CL A | 902952100 | 398 | 255,441 | SH | SOLE | 252,970 | 2,471 | 0 | ||
| Universal Stainless & Alloy Products Inc. | COM | 913837100 | 5,610 | 329,996 | SH | SOLE | 325,341 | 4,655 | 0 | ||
| Verso Corporation | CL A | 92531L207 | 3,948 | 657,957 | SH | SOLE | 648,264 | 9,693 | 0 | ||
| Vishay Intertechnology Inc. | COM | 928298108 | 1,830 | 111,244 | SH | SOLE | 109,908 | 1,336 | 0 | ||
| WPX Energy Inc. | COM | 98212B103 | 6,190 | 462,360 | SH | SOLE | 455,235 | 7,125 | 0 | ||