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 T & T COM 00206R102 512 15,125 SH   SOLE   15,125 0 0
Abbott Laboratories COM 002824100 332 10,000 SH   SOLE   10,000 0 0
Abbvie Inc. COM 00287Y109 428 9,575 SH   SOLE   9,575 0 0
Aceto Corporation COM 004446100 6,672 427,119 SH   SOLE   427,119 0 0
Acorn Energy Inc COM 004848107 737 125,000 SH   SOLE   125,000 0 0
Addus Homecare Corporation COM 006739106 7,948 274,344 SH   SOLE   274,344 0 0
ADDvantage Technologies Group COM NEW 006743306 712 290,750 SH   SOLE   290,750 0 0
AeroCentury Corp. COM 007737109 677 33,000 SH   SOLE   33,000 0 0
Allied Healthcare Products COM 019222108 1,231 542,500 SH   SOLE   542,500 0 0
Allied Motion Technologies COM 019330109 886 109,550 SH   SOLE   109,550 0 0
American Software, Inc. CL A 029683109 4,565 534,550 SH   SOLE   534,550 0 0
Ameriprise Financial, Inc COM 03076C106 426 4,678 SH   SOLE   4,678 0 0
Amgen COM 031162100 788 7,042 SH   SOLE   7,042 0 0
Anika Therapeutics, Inc. COM 035255108 6,629 277,500 SH   SOLE   277,500 0 0
ARI Network Services Inc COM 001930205 766 238,489 SH   SOLE   238,489 0 0
Atlas Financial Holdings, Inc SHS NEW G06207115 5,543 541,350 SH   SOLE   541,350 0 0
AXT Inc COM 00246W103 3,504 1,497,584 SH   SOLE   1,497,584 0 0
Ballantyne of Omaha Inc COM 058516105 639 150,000 SH   SOLE   150,000 0 0
Bank of Commerce Holdings COM 06424J103 517 90,000 SH   SOLE   90,000 0 0
Barrett Business Services, Inc COM 068463108 8,414 125,000 SH   SOLE   125,000 0 0
Bed Bath & Beyond Inc. COM 075896100 519 6,715 SH   SOLE   6,715 0 0
BioScrip Inc COM 09069N108 2,619 298,300 SH   SOLE   298,300 0 0
Birner Dental Management Serv COM NEW 091283200 746 39,800 SH   SOLE   39,800 0 0
Body Central Corp. COM 09689U102 1,979 324,374 SH   SOLE   324,374 0 0
Cal Dive International Inc. COM 12802T101 4,728 2,306,400 SH   SOLE   2,306,400 0 0
Cal-Maine Foods Inc COM NEW 128030202 1,449 30,150 SH   SOLE   30,150 0 0
Cascade Microtech Inc COM 147322101 154 17,175 SH   SOLE   17,175 0 0
Century Casinos, Inc. COM 156492100 7,796 1,362,873 SH   SOLE   1,362,873 0 0
Ceragon Networks Ltd. ORD M22013102 1,263 300,000 SH   SOLE   300,000 0 0
Chevron Texaco COM 166764100 239 1,965 SH   SOLE   1,965 0 0
China Gerui Advanced Materials COM G21101103 1,257 816,000 SH   SOLE   816,000 0 0
Christopher and Banks Corp COM 171046105 3,244 450,000 SH   SOLE   450,000 0 0
Cimatron LTD ORD M23798107 692 120,000 SH   SOLE   120,000 0 0
Cisco Systems, Inc. COM 17275R102 461 19,670 SH   SOLE   19,670 0 0
Colgate-Palmolive COM 194162103 488 8,224 SH   SOLE   8,224 0 0
Columbia Labs COM 197779200 411 56,550 SH   SOLE   56,550 0 0
Comfort Systems USA, Inc. COM 199908104 3,606 214,500 SH   SOLE   214,500 0 0
ConAgra Foods, Inc. COM 205887102 423 13,950 SH   SOLE   13,950 0 0
Concurrent Computer Corp COM PAR $.01 206710402 722 100,000 SH   SOLE   100,000 0 0
Core Molding Technologies, Inc COM 218683100 2,860 298,575 SH   SOLE   298,575 0 0
Courier Corporation COM 222660102 3,164 200,000 SH   SOLE   200,000 0 0
Covenant Transportation Group CL A 22284P105 2,771 437,069 SH   SOLE   437,069 0 0
CPI Aerostructures, Inc. COM NEW 125919308 4,515 389,533 SH   SOLE   389,533 0 0
CR Bard Inc. COM 067383109 507 4,405 SH   SOLE   4,405 0 0
Crown Crafts Inc COM 228309100 544 75,400 SH   SOLE   75,400 0 0
Cryolife Inc COM 228903100 707 101,000 SH   SOLE   101,000 0 0
CSX Corporation COM 126408103 659 25,585 SH   SOLE   25,585 0 0
CTI Industries Corporation COM NEW 125961300 730 151,200 SH   SOLE   151,200 0 0
Cumberland Pharmaceutical Inc COM 230770109 504 111,350 SH   SOLE   111,350 0 0
CyberOptics Corporation COM 232517102 2,897 464,261 SH   SOLE   464,261 0 0
Datalink Corp. COM 237934104 6,682 494,200 SH   SOLE   494,200 0 0
Delta Apparel Inc. COM 247368103 2,714 163,861 SH   SOLE   163,861 0 0
Digital Ally, Inc. COM 25382P109 585 42,704 SH   SOLE   42,704 0 0
Dot Hill Systems Inc. COM 25848T109 535 250,000 SH   SOLE   250,000 0 0
Douglas Dynamics, Inc. COM 25960R105 1,620 110,000 SH   SOLE   110,000 0 0
Ducommun, Inc COM 264147109 2,200 76,715 SH   SOLE   76,715 0 0
eBay Inc COM 278642103 813 14,575 SH   SOLE   14,575 0 0
Edgewater Technology COM 280358102 535 101,525 SH   SOLE   101,525 0 0
EMC Insurance Group COM 268664109 384 12,723 SH   SOLE   12,723 0 0
Emerson Electric COM NEW 291011104 275 4,250 SH   SOLE   4,250 0 0
Emerson Radio Corp. COM 291087203 496 264,000 SH   SOLE   264,000 0 0
Enterprise Products Partners COM 293792107 439 7,200 SH   SOLE   7,200 0 0
Epiq Sys Inc. COM 26882D109 4,288 325,120 SH   SOLE   325,120 0 0
Euroseas, Ltd. COM NEW Y23592200 528 350,000 SH   SOLE   350,000 0 0
Evolving Systems, Inc. COM 30049R209 1,296 134,900 SH   SOLE   134,900 0 0
Exactech COM 30064E109 3,466 172,000 SH   SOLE   172,000 0 0
Exxon Mobil Corporation COM 30231G102 862 10,019 SH   SOLE   10,019 0 0
Federal Signal Corp COM 313855108 5,598 435,000 SH   SOLE   435,000 0 0
Fedex Corporation COM 31428X106 569 4,985 SH   SOLE   4,985 0 0
Five Star Quality Care Inc. COM 33832D106 2,585 500,000 SH   SOLE   500,000 0 0
Flexible Solutions Intl COM 33938T104 346 308,800 SH   SOLE   308,800 0 0
Flexsteel Industries, Inc. COM 339382103 4,947 198,111 SH   SOLE   198,111 0 0
Fluor Corporation COM 343412102 517 7,290 SH   SOLE   7,290 0 0
Foster L .B. Co. COM 350060109 4,089 89,390 SH   SOLE   89,390 0 0
Friedman Industries COM 358435105 603 60,319 SH   SOLE   60,319 0 0
Full House Resorts Inc. COM 359678109 3,002 1,079,946 SH   SOLE   1,079,946 0 0
Furmanite Corp COM 361086101 4,801 485,000 SH   SOLE   485,000 0 0
G P Strategies Corp COM 36225V104 5,779 220,400 SH   SOLE   220,400 0 0
G Willi-Food International ORD M52523103 924 128,000 SH   SOLE   128,000 0 0
Gaming Partners International COM 36467A107 487 60,000 SH   SOLE   60,000 0 0
General Electric COM 369604103 495 20,739 SH   SOLE   20,739 0 0
General Finance Corp. COM 369822101 643 120,000 SH   SOLE   120,000 0 0
General Mills, Inc. COM 370334104 430 8,975 SH   SOLE   8,975 0 0
Global Cash Access Holdings COM 378967103 6,186 792,000 SH   SOLE   792,000 0 0
Global Power Equipment Group COM PAR $0.01 37941P306 4,033 200,550 SH   SOLE   200,550 0 0
Globecomm Systems Inc. COM 37956X103 663 47,334 SH   SOLE   47,334 0 0
Hallador Energy Company COM 40609P105 2,997 410,510 SH   SOLE   410,510 0 0
Hastings Entertainment COM 418365102 253 100,000 SH   SOLE   100,000 0 0
HCI Group COM 40416E103 817 20,000 SH   SOLE   20,000 0 0
Hill International, Inc COM 431466101 5,634 1,707,142 SH   SOLE   1,707,142 0 0
Home Depot Inc. COM 437076102 353 4,650 SH   SOLE   4,650 0 0
Hooper Holmes Inc COM 439104100 543 1,155,200 SH   SOLE   1,155,200 0 0
Hopfedd Bankcorp, Inc. COM 439734104 895 80,000 SH   SOLE   80,000 0 0
Hornbeck Offshore Services COM 440543106 3,159 55,000 SH   SOLE   55,000 0 0
Hudson Technologies Inc COM 444144109 2,962 1,459,200 SH   SOLE   1,459,200 0 0
Illinois Tool Works, Inc. COM 452308109 478 6,264 SH   SOLE   6,264 0 0
Information Services Group COM 45675Y104 218 52,575 SH   SOLE   52,575 0 0
Innodata Isogen Inc COM NEW 457642205 3,322 1,282,467 SH   SOLE   1,282,467 0 0
Insteel Industries Inc COM 45774W108 2,898 180,000 SH   SOLE   180,000 0 0
Integrated Silicon Solutions COM 45812P107 4,679 429,700 SH   SOLE   429,700 0 0
Intel Corp. COM 458140100 331 14,433 SH   SOLE   14,433 0 0
International Business Machine COM 459200101 850 4,590 SH   SOLE   4,590 0 0
International Paper Co COM 460146103 254 5,675 SH   SOLE   5,675 0 0
Intersections, Inc. COM 460981301 2,830 322,650 SH   SOLE   322,650 0 0
InTest Corp. COM 461147100 744 187,825 SH   SOLE   187,825 0 0
Intuit Inc COM 461202103 224 3,375 SH   SOLE   3,375 0 0
IPass Inc. COM 46261V108 4,760 2,380,000 SH   SOLE   2,380,000 0 0
Iteris Inc COM 46564T107 826 451,100 SH   SOLE   451,100 0 0
J P Morgan Chase & Co COM 46625H100 449 8,688 SH   SOLE   8,688 0 0
Johnson & Johnson COM 478160104 527 6,075 SH   SOLE   6,075 0 0
JTH Holding Inc. CL A 46637N103 379 20,000 SH   SOLE   20,000 0 0
K M G Chemicals Inc COM 482564101 3,718 169,085 SH   SOLE   169,085 0 0
Kimberly-Clark Corporation COM 494368103 382 4,050 SH   SOLE   4,050 0 0
Kirkland's COM 497498105 3,319 180,000 SH   SOLE   180,000 0 0
Kratos Defense & Sec Solutions COM NEW 50077B207 830 100,275 SH   SOLE   100,275 0 0
KVH Industries Inc COM 482738101 228 16,500 SH   SOLE   16,500 0 0
Lakeland Industries COM 511795106 569 105,395 SH   SOLE   105,395 0 0
Landec Corporation COM 514766104 5,064 415,050 SH   SOLE   415,050 0 0
LGL Group Inc. COM 50186A108 304 50,800 SH   SOLE   50,800 0 0
LGL Group Inc. *W EXP 08/06/201 50186A116 0 249,000 SH   SOLE   249,000 0 0
LifeVantage Corp COM 53222K106 3,131 1,315,600 SH   SOLE   1,315,600 0 0
Macys COM 55616P104 544 12,565 SH   SOLE   12,565 0 0
Magnetek Inc COM 559424403 744 42,000 SH   SOLE   42,000 0 0
Management Network Group, Inc. COM 561693201 425 146,490 SH   SOLE   146,490 0 0
Manitex COM 563420108 4,354 398,354 SH   SOLE   398,354 0 0
Matrix Service Co. COM 576853105 6,194 315,700 SH   SOLE   315,700 0 0
MCG Diagnostics COM 552768103 769 70,250 SH   SOLE   70,250 0 0
McKesson Corp. COM 58155Q103 618 4,817 SH   SOLE   4,817 0 0
Medical Action Industries Inc. COM 58449L100 3,101 467,065 SH   SOLE   467,065 0 0
Medtronic Inc. COM 585055106 296 5,556 SH   SOLE   5,556 0 0
MFRI, Inc. COM 552721102 5,176 453,220 SH   SOLE   453,220 0 0
MicroFinancial Inc. COM 595072109 788 100,000 SH   SOLE   100,000 0 0
Miller Industries COM NEW 600551204 3,410 200,800 SH   SOLE   200,800 0 0
Mitcham Industries, Inc. COM 606501104 2,806 183,500 SH   SOLE   183,500 0 0
Monarch Casino & Resort, Inc. COM 609027107 4,156 218,950 SH   SOLE   218,950 0 0
Monmouth Real Estate Inv COM 609720107 3,413 376,250 SH   SOLE   376,250 0 0
Motorcar Parts of America, Inc COM 620071100 6,348 501,050 SH   SOLE   501,050 0 0
Napco Security Systems Inc COM 630402105 1,383 260,450 SH   SOLE   260,450 0 0
Netsol Technologies Inc COM PAR $.001 64115A402 903 90,000 SH   SOLE   90,000 0 0
Newpark Resources Inc. COM PAR $.01 NEW 651718504 5,165 407,950 SH   SOLE   407,950 0 0
Newtek Business Services Inc COM 652526104 1,350 456,109 SH   SOLE   456,109 0 0
Nicholas Financial, Inc. COM NEW 65373J209 3,991 245,000 SH   SOLE   245,000 0 0
Northern Technologies Intl COM 665809109 4,087 240,400 SH   SOLE   240,400 0 0
Northwest Pipe Company COM 667746101 2,778 84,500 SH   SOLE   84,500 0 0
Nucor Corporation COM 670346105 389 7,940 SH   SOLE   7,940 0 0
Official Payment Holdings COM 67623R106 7,415 891,175 SH   SOLE   891,175 0 0
Omega Protein Corp. COM 68210P107 3,889 382,400 SH   SOLE   382,400 0 0
Omnova Solutions, Inc. COM 682129101 3,549 415,109 SH   SOLE   415,109 0 0
On Track Innovations Ltd. SHS M8791A109 654 414,100 SH   SOLE   414,100 0 0
Oplink Communications Inc COM NEW 68375Q403 4,553 241,950 SH   SOLE   241,950 0 0
Oppenheimer Holdings CL A NON VTG 683797104 4,285 241,140 SH   SOLE   241,140 0 0
Oracle Corporation COM 68389X105 450 13,575 SH   SOLE   13,575 0 0
Orbit International Corp COM NEW 685559304 442 130,000 SH   SOLE   130,000 0 0
Orchids Paper Products COM 68572N104 6,961 251,577 SH   SOLE   251,577 0 0
P H I, Inc. COM NON VOTING 69336T205 5,802 153,850 SH   SOLE   153,850 0 0
Pacific Premier Bank Corp COM 69478X105 1,293 96,300 SH   SOLE   96,300 0 0
PCM, Inc. COM 69323K100 4,411 474,280 SH   SOLE   474,280 0 0
PCTEL Inc COM 69325Q105 4,720 533,350 SH   SOLE   533,350 0 0
Penford Corporation COM 707051108 4,637 325,429 SH   SOLE   325,429 0 0
Pepsico COM 713448108 631 7,937 SH   SOLE   7,937 0 0
Perma-Fix Environmental COM 714157104 2,029 2,765,250 SH   SOLE   2,765,250 0 0
Pfizer COM 717081103 563 19,605 SH   SOLE   19,605 0 0
Photomedex Inc COM PAR $0.01 719358301 405 25,500 SH   SOLE   25,500 0 0
Photronics, Inc. COM 719405102 4,907 625,925 SH   SOLE   625,925 0 0
PRGX Global, Inc. COM 69357C503 3,998 638,600 SH   SOLE   638,600 0 0
Primo Water Corporation COM 74165N105 589 247,432 SH   SOLE   247,432 0 0
Proctor & Gamble Co. COM 742718109 516 6,821 SH   SOLE   6,821 0 0
Professional Diversity Network COM 74312Y103 300 65,000 SH   SOLE   65,000 0 0
Prudential Financial, Inc. COM 744320102 492 6,315 SH   SOLE   6,315 0 0
RCM Technologies COM NEW 749360400 3,768 624,925 SH   SOLE   624,925 0 0
Reading International CL A 755408101 823 125,300 SH   SOLE   125,300 0 0
Rentrak Corporation COM 760174102 4,296 131,700 SH   SOLE   131,700 0 0
Resolute Energy Corp COM 76116A108 3,674 439,450 SH   SOLE   439,450 0 0
Rex American Resources Corp COM 761624105 492 16,000 SH   SOLE   16,000 0 0
Rudolph Technologies Inc COM 781270103 4,546 398,750 SH   SOLE   398,750 0 0
Rush Enterprises, Inc. CL B 781846308 1,555 68,250 SH   SOLE   68,250 0 0
Saexploration Holdings Inc. COM 78636X105 2,587 272,040 SH   SOLE   272,040 0 0
Sanfilippo John B & Son Inc COM 800422107 7,416 319,800 SH   SOLE   319,800 0 0
Schlumberger LTD COM 806857108 531 6,015 SH   SOLE   6,015 0 0
Scorpio Tankers SHS Y7542C106 4,099 420,000 SH   SOLE   420,000 0 0
SeaChange International Inc COM 811699107 3,234 281,950 SH   SOLE   281,950 0 0
Silvercrest Asset Management CL A 828359109 3,407 250,000 SH   SOLE   250,000 0 0
Skilled Healthcare Group CL A 83066R107 1,286 295,000 SH   SOLE   295,000 0 0
Smartpros COM 83171G103 551 257,300 SH   SOLE   257,300 0 0
Socket Mobile Inc COM NEW 83368E200 168 130,241 SH   SOLE   130,241 0 0
SORL Auto Parts Inc COM 78461U101 2,771 744,781 SH   SOLE   744,781 0 0
Southwest Airlines Co COM 844741108 352 24,196 SH   SOLE   24,196 0 0
Sparton Corporation COM 847235108 5,280 207,050 SH   SOLE   207,050 0 0
SPDR S & P 500 ETF TR TR UNIT 78462F103 4,262 25,366 SH   SOLE   25,366 0 0
Speed Commerce COM 84764T106 574 175,000 SH   SOLE   175,000 0 0
StealthGas Inc SHS Y81669106 3,645 398,850 SH   SOLE   398,850 0 0
Sterling Construction Co Inc COM 859241101 3,341 361,200 SH   SOLE   361,200 0 0
Stoneridge COM 86183P102 1,621 150,000 SH   SOLE   150,000 0 0
Stryker Corp COM 863667101 537 7,942 SH   SOLE   7,942 0 0
SWS Group, inc. COM 78503N107 2,874 515,000 SH   SOLE   515,000 0 0
Synergy Resources Corp COM 87164P103 3,656 375,000 SH   SOLE   375,000 0 0
Syneron Medical ORD SHS M87245102 3,276 380,000 SH   SOLE   380,000 0 0
Systemax Inc. COM 871851101 3,016 325,300 SH   SOLE   325,300 0 0
T. Rowe Price Group, Inc. COM 74144T108 514 7,150 SH   SOLE   7,150 0 0
Target Corporation COM 87612E106 300 4,690 SH   SOLE   4,690 0 0
TechPrecision Corp COM 878739101 466 770,000 SH   SOLE   770,000 0 0
Texas Instruments Inc COM 882508104 462 11,475 SH   SOLE   11,475 0 0
TGC Industries, Inc. COM 872417308 3,419 433,306 SH   SOLE   433,306 0 0
The Ensign Group COM 29358P101 4,522 110,000 SH   SOLE   110,000 0 0
3 M Company COM 88579Y101 726 6,077 SH   SOLE   6,077 0 0
TOR Minerals International COM 890878101 501 42,997 SH   SOLE   42,997 0 0
Triangle Petroleum Corp COM NEW 89600B201 4,433 451,400 SH   SOLE   451,400 0 0
Trinity Biotech ADR NEW 896438306 1,088 50,000 SH   SOLE   50,000 0 0
Tristate Capital Holdings COM 89678F100 3,867 300,000 SH   SOLE   300,000 0 0
U. S. Global Investors, Inc. CL A 902952100 1,601 559,650 SH   SOLE   559,650 0 0
Ultra Clean Holdings, Inc. COM 90385V107 4,149 600,500 SH   SOLE   600,500 0 0
United Insurance Holdings Corp COM 910710102 4,208 476,544 SH   SOLE   476,544 0 0
Universal Electronics, Inc. COM 913483103 4,223 117,200 SH   SOLE   117,200 0 0
Universal Power Corp COM 913788105 472 261,000 SH   SOLE   261,000 0 0
Uranium Energy Corp COM 916896103 3,600 1,600,000 SH   SOLE   1,600,000 0 0
Urologix, Inc. COM 917273104 170 500,000 SH   SOLE   500,000 0 0
US Auto Parts Network Inc. COM 90343C100 462 350,000 SH   SOLE   350,000 0 0
USA Technologies Inc COM NO PAR 90328S500 121 75,000 SH   SOLE   75,000 0 0
USA Truck, Inc. COM 902925106 4,028 449,578 SH   SOLE   449,578 0 0
Vaalco Energy, Inc COM NEW 91851C201 4,379 784,700 SH   SOLE   784,700 0 0
Vasco Data Sec Intl COM 92230Y104 4,485 568,450 SH   SOLE   568,450 0 0
Versar COM 925297103 981 237,600 SH   SOLE   237,600 0 0
Virginia Heritage Bank COM 927819102 400 25,000 SH   SOLE   25,000 0 0
Virtusa Corporation COM 92827P102 2,932 100,900 SH   SOLE   100,900 0 0
Vista Gold Corp. New COM NEW 927926303 379 822,000 SH   SOLE   822,000 0 0
Vitran Corporation Inc. COM 92850E107 3,543 717,179 SH   SOLE   717,179 0 0
VOXX International Corp. CL A 91829F104 398 29,087 SH   SOLE   29,087 0 0
Wal Mart COM 931142103 416 5,625 SH   SOLE   5,625 0 0
Walgreen Company COM 931422109 294 5,457 SH   SOLE   5,457 0 0
Wells-Gardner Electronics Corp COM 949765101 517 300,700 SH   SOLE   300,700 0 0
Westell Technologies Inc. CL A 957541105 804 240,000 SH   SOLE   240,000 0 0
Weyco Group Inc COM 962149100 732 25,831 SH   SOLE   25,831 0 0
Widepoint Corporation COM 967590100 847 951,400 SH   SOLE   951,400 0 0
Willamette Valley Vineyards COM 969136100 844 147,000 SH   SOLE   147,000 0 0
Yum Brands, Inc. COM 988498101 719 10,075 SH   SOLE   10,075 0 0