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
Acacia Resh Corp Com 003881307 7,272 469,765 SH   SOLE   0 0 469,765
Alibaba Group Hldg Ltd Spons Ads 01609W102 638 7,176 SH   SOLE   0 0 7,176
Alpha & Omega Semiconductor Ltd Com G6331P104 675 71,760 SH   SOLE   0 0 71,760
Alpha Pro Tech Ltd Com 020772109 234 71,915 SH   SOLE   0 0 71,915
Arcbest Corp Com Com 03937C105 4,213 112,954 SH   SOLE   0 0 112,954
Arotech Corp Com New Com New 042682203 2,333 717,944 SH   SOLE   0 0 717,944
Berkshire Hathaway Inc Cl B New 084670702 35 250 SH   SOLE   0 0 250
Bluerock Residential Growth Reit Com 09627J102 381 29,298 SH   SOLE   0 0 29,298
Charles & Colvard Ltd Com 159765106 323 152,266 SH   SOLE   0 0 152,266
Customers Bancorp Inc. Com 23204G100 1,619 90,167 SH   SOLE   0 0 90,167
Dominion Resources Inc VA Com 25746U109 69 1,000 SH   SOLE   0 0 1,000
Dynex Capital Inc Com New 26817Q506 1,778 220,006 SH   SOLE   0 0 220,006
Enservco Corp Com Com 29358Y102 1,186 325,755 SH   SOLE   0 0 325,755
Exxon Mobil Corp Com 30231G102 50 529 SH   SOLE   0 0 529
Farmland Partners Inc Com 31154R109 379 34,412 SH   SOLE   0 0 34,412
Felcor Lodging Tr PFD CV $1.95 31430F200 1,123 43,500 SH   SOLE   0 0 43,500
Fly Leasing Ltd Adr Spons ADR 34407D109 2,830 220,939 SH   SOLE   0 0 220,939
Franklin Finl Corp VA Com 35353C102 1 65 SH   SOLE   0 0 65
Frontier Communications Corp Com 35906A108 0 40 SH   SOLE   0 0 40
Graham Corp Com 384556106 1,030 35,827 SH   SOLE   0 0 35,827
Greenhunter Res Inc Com 39530A104 76 49,350 SH   SOLE   0 0 49,350
Independence Rlty Tr Inc Com 45378A106 3,222 332,865 SH   SOLE   0 0 332,865
Inogen Inc Com 45780L104 1,234 59,868 SH   SOLE   0 0 59,868
Intl Business Mach Com 459200101 22 115 SH   SOLE   0 0 115
Johnson & Johnson Com 478160104 28 263 SH   SOLE   0 0 263
Kopin Corp Com 500600101 4,507 1,325,591 SH   SOLE   0 0 1,325,591
Landec Corp Com 514766104 703 57,427 SH   SOLE   0 0 57,427
M B T Financial Corp Com 578877102 314 65,747 SH   SOLE   0 0 65,747
Mgp Ingredients Inc Com 55303J106 686 52,454 SH   SOLE   0 0 52,454
Multi Color Corp Com 625383104 1,554 34,174 SH   SOLE   0 0 34,174
New Media Investment Group Inc Com 64704V106 6 360 SH   SOLE   0 0 360
New Residential Invt Com 64828T102 2,093 358,994 SH   SOLE   0 0 358,994
Noranda Alum Hldg Corp Com 65542W107 555 122,812 SH   SOLE   0 0 122,812
Northstar Rlty Fin Corp Com 66704R704 66 3,750 SH   SOLE   0 0 3,750
Papa Murphys Holdings Com 698814100 365 35,817 SH   SOLE   0 0 35,817
Physicians Realty Trust Com 71943U104 6,437 469,188 SH   SOLE   0 0 469,188
Procera Networks Inc Com 74269U203 686 71,640 SH   SOLE   0 0 71,640
Quality Distr Inc Com 74756M102 4,516 353,376 SH   SOLE   0 0 353,376
Royal Dutch Shell spons adr A 780259206 14 183 SH   SOLE   0 0 183
Silver Bay Realty Tr Com 82735Q102 4 219 SH   SOLE   0 0 219
Skullcandy Inc Com 83083J104 1,553 199,350 SH   SOLE   0 0 199,350
Sotherly Hotels Inc Com 83600C103 3,238 415,103 SH   SOLE   0 0 415,103
Summer Infant Inc com 865646103 605 172,909 SH   SOLE   0 0 172,909
Summit Hotel Properties Inc Com 866082100 2,221 206,020 SH   SOLE   0 0 206,020
Susser Pete Partners LP Com U REP LP 869239103 1,646 29,926 SH   SOLE   0 0 29,926
Taser International Inc Com 87651B104 1,728 111,911 SH   SOLE   0 0 111,911
Travelcenters Amer LLC Com 894174101 0 25 SH   SOLE   0 0 25
Trex Inc Com 89531P105 1,433 41,442 SH   SOLE   0 0 41,442
U S Concrete Inc Com Com New 90333L201 3,524 134,825 SH   SOLE   0 0 134,825