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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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
AES Tr III Pfd CV 6.75% PFD 00808N202 255 5,000 SH   SOLE   5,000 0 0
Wells Fargo & Co New Perp Pfd PFD 949746804 323 265 SH   SOLE   265 0 0
A-Mark Precious Metals Inc COM 00181T107 933 88,000 SH   SOLE   88,000 0 0
Actuant Corp Cl A COM 00508X203 10,587 445,948 SH   SOLE   445,948 0 0
Albany Molecular Resrch COM 012423109 2,112 120,000 SH   SOLE   120,000 0 0
Alleghany Corporation COM 017175100 7,708 15,828 SH   SOLE   15,828 0 0
Altra Holdings Inc COM 02208R106 1,106 40,000 SH   SOLE   40,000 0 0
American Business Bank COM 02475l105 897 32,500 SH   SOLE   32,500 0 0
American Electric Technologies COM 025576109 407 96,639 SH   SOLE   96,639 0 0
American International Group I COM 026874784 11,574 211,250 SH   SOLE   211,250 0 0
American Vanguard Corp COM 030371108 14,917 1,404,595 SH   SOLE   1,404,595 0 0
Anika Therapeutics Inc COM 035255108 458 11,116 SH   SOLE   11,116 0 0
Annaly Capital Management Inc COM 035710409 1,061 101,985 SH   SOLE   101,985 0 0
Approach Resources Inc COM 03834A103 23,115 3,507,647 SH   SOLE   3,507,647 0 0
Avid Technology Inc COM 05367P100 12,157 815,922 SH   SOLE   815,922 0 0
Baldwin & Lyons Inc COM 057755209 8,778 374,188 SH   SOLE   374,188 0 0
Bed Bath & Beyond Inc COM 075896100 1,676 21,825 SH   SOLE   21,825 0 0
Belmond LTD COM G1154H107 35,295 2,874,200 SH   SOLE   2,874,200 0 0
Blackstone Mortgage Trust Inc COM 09257W100 619 21,825 SH   SOLE   21,825 0 0
Cafepress Inc COM 12769a103 389 100,000 SH   SOLE   100,000 0 0
Capital One Financial Corporat COM 14040H105 11,074 140,495 SH   SOLE   140,495 0 0
Capital Senior Living COM 140475104 648 25,000 SH   SOLE   25,000 0 0
Carbon Natural Gas Company COM 14115T109 1,293 1,990,000 SH   SOLE   1,990,000 0 0
Carrols Restaurant Group Inc COM 14574X104 27,939 3,370,242 SH   SOLE   3,370,242 0 0
Central Garden & Pet Co Com COM 153527106 493 50,000 SH   SOLE   50,000 0 0
Charter Financial Corp COM 16122w108 559 48,591 SH   SOLE   48,591 0 0
Chase Corp. COM 16150r104 1,407 32,184 SH   SOLE   32,184 0 0
Chemtura Corp COM 163893209 4,306 157,788 SH   SOLE   157,788 0 0
Cherokee Inc COM 16444H102 14,456 742,085 SH   SOLE   742,085 0 0
Chesapeake Energy Corporation COM 165167107 1,290 91,103 SH   SOLE   91,103 0 0
Chevron Corporation COM 166764100 210 2,000 SH   SOLE   2,000 0 0
Chimera Investment Corporation COM 16934Q208 24,267 7,728,305 SH   SOLE   7,728,305 0 0
Cisco Systems Inc COM 17275R102 1,411 51,250 SH   SOLE   51,250 0 0
Coach Inc COM 189754104 1,779 42,950 SH   SOLE   42,950 0 0
Computer Task Group Inc COM 205477102 731 100,000 SH   SOLE   100,000 0 0
Comverse Inc COM 20585p105 13,792 700,095 SH   SOLE   700,095 0 0
Conrad Industries Inc COM 208305102 715 23,070 SH   SOLE   23,070 0 0
Continental Building Products COM 211171103 1,581 70,000 SH   SOLE   70,000 0 0
Dorian LPG LTD COM y2106r110 1,173 90,000 SH   SOLE   90,000 0 0
DreamWorks Animation SKG COM 26153C103 21,267 878,807 SH   SOLE   878,807 0 0
E.W. Scripps Company COM 811054402 6,889 242,220 SH   SOLE   242,220 0 0
Eastern Virginia Bankshares COM 277196101 501 80,000 SH   SOLE   80,000 0 0
Emerald Oil Inc COM 29101U209 2,084 2,815,909 SH   SOLE   2,815,909 0 0
Enzon Pharmaceuticals COM 293904108 755 712,415 SH   SOLE   712,415 0 0
Equifax Inc COM 294429105 6,284 67,565 SH   SOLE   67,565 0 0
Evine Live Inc COM 300487105 2,014 300,100 SH   SOLE   300,100 0 0
Forestar Group Inc COM 346233109 34,459 2,185,093 SH   SOLE   2,185,093 0 0
Francesca's Holdings Corporati COM 351793104 12,910 725,275 SH   SOLE   725,275 0 0
FRP Holdings Inc COM 30292l107 2,218 60,929 SH   SOLE   60,929 0 0
Gain Capital Holdings, Inc. COM 36268w100 1,465 150,000 SH   SOLE   150,000 0 0
General Motors Company COM 37045V100 6,740 179,734 SH   SOLE   179,734 0 0
GP Strategies Corp COM 36225V104 12,221 330,292 SH   SOLE   330,292 0 0
Graham Corp Com COM 384556106 1,059 44,200 SH   SOLE   44,200 0 0
Graham Holdings COM 384637104 263 251 SH   SOLE   251 0 0
GSI Group Inc COM 36191C205 14,793 1,110,618 SH   SOLE   1,110,618 0 0
Hallador Energy Company COM 40609P105 3,992 341,482 SH   SOLE   341,482 0 0
Hallmark Financial Services In COM 40624Q203 15,190 1,433,004 SH   SOLE   1,433,004 0 0
Halyard Health Inc COM 40650v100 11,442 232,566 SH   SOLE   232,566 0 0
Heritage-Crystal Clean Inc COM 42726M106 21,949 1,875,952 SH   SOLE   1,875,952 0 0
Hertz Global Holdings Inc COM 42805T105 10,991 506,955 SH   SOLE   506,955 0 0
International Business Machine COM 459200101 11,072 68,985 SH   SOLE   68,985 0 0
INTL FCStone Inc COM 46116V105 6,874 231,231 SH   SOLE   231,231 0 0
Ituran Location and Control COM m6158m104 550 25,000 SH   SOLE   25,000 0 0
Jamba Inc COM 47023A309 883 60,000 SH   SOLE   60,000 0 0
Johnson Controls Inc COM 478366107 11,871 235,350 SH   SOLE   235,350 0 0
JPMorgan Chase & Co COM 46625H100 11,653 192,358 SH   SOLE   192,358 0 0
KEYW Holding Corp COM 493723100 934 113,508 SH   SOLE   113,508 0 0
Lakes Entertainment Inc COM 51206p208 6,292 735,007 SH   SOLE   735,007 0 0
Layne Christensen Co COM 521050104 751 150,000 SH   SOLE   150,000 0 0
Leucadia National Corporation COM 527288104 11,969 536,977 SH   SOLE   536,977 0 0
Level 3 Communications Inc COM 52729N308 13,814 256,575 SH   SOLE   256,575 0 0
Liberty Broadband Series A COM 530307107 4,626 81,912 SH   SOLE   81,912 0 0
Liberty Broadband Series C COM 530307305 2,128 37,599 SH   SOLE   37,599 0 0
Liberty Interactive Corp - A COM 53071m104 11,333 388,265 SH   SOLE   388,265 0 0
Liberty Media Corporation CL-A COM 531229102 2,031 52,685 SH   SOLE   52,685 0 0
Liberty Media Corporation CL-C COM 531229300 3,979 104,170 SH   SOLE   104,170 0 0
Liberty Ventures Srs A COM 53071m880 23,043 548,514 SH   SOLE   548,514 0 0
MAM Software Group Inc COM 55277Q201 2,853 518,800 SH   SOLE   518,800 0 0
Manitex International Inc COM 563420108 973 100,000 SH   SOLE   100,000 0 0
Millicom International Cellula COM L6388F110 1,623 22,500 SH   SOLE   22,500 0 0
Morgans Hotel Group Co COM 61748W108 969 125,000 SH   SOLE   125,000 0 0
NeuStar Inc COM 64126X201 39,291 1,595,898 SH   SOLE   1,595,898 0 0
NN Inc COM 629337106 1,066 42,520 SH   SOLE   42,520 0 0
Occidental Petroleum Corporati COM 674599105 2,197 30,100 SH   SOLE   30,100 0 0
OM Group Inc COM 670872100 12,662 421,660 SH   SOLE   421,660 0 0
Oritani Finl Corp COM 68633d103 509 35,000 SH   SOLE   35,000 0 0
Overseas Shipholding Group COM 69036r400 820 200,000 SH   SOLE   200,000 0 0
Patriot Transportation Holding COM 70338w105 548 21,933 SH   SOLE   21,933 0 0
Raven Industries Inc COM 754212108 1,295 63,300 SH   SOLE   63,300 0 0
Remy International Inc COM 75971m108 19,264 867,363 SH   SOLE   867,363 0 0
Richardson Electronics Ltd. COM 763165107 898 100,000 SH   SOLE   100,000 0 0
SeaWorld Entertainment Inc COM 81282v100 12,083 626,714 SH   SOLE   626,714 0 0
SIFCO Industries Inc COM 826546103 1,307 60,000 SH   SOLE   60,000 0 0
Signature Group Holdings NEW COM 82670k201 6,091 991,987 SH   SOLE   991,987 0 0
Silver Spring Networks COM 82817q103 1,073 120,000 SH   SOLE   120,000 0 0
Simulations Plus Inc COM 829214105 921 150,000 SH   SOLE   150,000 0 0
Southern Natl Bancorp Of VA In COM 843395104 430 36,098 SH   SOLE   36,098 0 0
Spark Networks Inc COM 84651P100 1,212 300,000 SH   SOLE   300,000 0 0
Star Gas Partners L.P COM 85512C105 431 58,250 SH   SOLE   58,250 0 0
State Street Corporation COM 857477103 1,118 15,200 SH   SOLE   15,200 0 0
Symetra Financial Corporation COM 87151Q106 11,327 482,809 SH   SOLE   482,809 0 0
TE Connectivity LTD COM H84989104 6,506 90,834 SH   SOLE   90,834 0 0
Telenav, Inc. COM 879455103 396 50,000 SH   SOLE   50,000 0 0
The Bank of New York Mellon Co COM 064058100 6,569 163,255 SH   SOLE   163,255 0 0
The Boeing Company COM 097023105 3,351 22,325 SH   SOLE   22,325 0 0
UFP Technologies Inc COM 902673102 1,708 75,000 SH   SOLE   75,000 0 0
Verizon Communications Inc COM 92343V104 1,818 37,375 SH   SOLE   37,375 0 0
ViaSat Inc COM 92552V100 22,707 380,929 SH   SOLE   380,929 0 0
Westell Technologies Inc-A COM 957541105 9,224 7,041,518 SH   SOLE   7,041,518 0 0
White Mountains Insurance Grou COM G9618E107 14,761 21,564 SH   SOLE   21,564 0 0
Winthrop Realty Trust COM 976391300 169 10,346 SH   SOLE   10,346 0 0
WPX Energy Inc COM 98212b103 5,787 529,472 SH   SOLE   529,472 0 0
Tesco Plc ADR 881575302 11,534 1,070,845 SH   SOLE   1,070,845 0 0
Capital One Financial Corp War WTS 14040H139 241 6,500 SH   SOLE   6,500 0 0