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
AES Tr III Pfd CV 6.75% PFD 00808N202 248 5,000 SH   SOLE   5,000 0 0
Wells Fargo & Co New Perp Pfd PFD 949746804 280 240 SH   SOLE   240 0 0
A-Mark Precious Metals Inc COM 00181T107 1,156 100,000 SH   SOLE   100,000 0 0
Actuant Corp Cl A COM 00508X203 9,201 500,318 SH   SOLE   500,318 0 0
Agrofresh Solutions Inc COM 00856g109 794 100,000 SH   SOLE   100,000 0 0
Albany Molecular Resrch COM 012423109 2,090 120,000 SH   SOLE   120,000 0 0
Alleghany Corp COM 017175100 6,995 14,943 SH   SOLE   14,943 0 0
American Business Bank COM 02475l105 962 32,500 SH   SOLE   32,500 0 0
American International Group I COM 026874784 10,858 191,100 SH   SOLE   191,100 0 0
American Vanguard Corp COM 030371108 16,766 1,450,328 SH   SOLE   1,450,328 0 0
Anika Therapeutics Inc COM 035255108 11,791 370,441 SH   SOLE   370,441 0 0
Approach Resources Inc COM 03834A103 6,333 3,386,754 SH   SOLE   3,386,754 0 0
Avid Technology Inc COM 05367P100 15,250 1,915,845 SH   SOLE   1,915,845 0 0
Baldwin & Lyons Inc COM 057755209 9,917 456,992 SH   SOLE   456,992 0 0
Belmond LTD COM G1154H107 29,408 2,908,803 SH   SOLE   2,908,803 0 0
Blackstone Mortgage Trust Inc COM 09257W100 366 13,325 SH   SOLE   13,325 0 0
Boswell Co COM 101205102 655 1,000 SH   SOLE   1,000 0 0
Capital One Financial Corp COM 14040H105 9,599 132,370 SH   SOLE   132,370 0 0
Capital Senior Living COM 140475104 830 41,400 SH   SOLE   41,400 0 0
Carbon Natural Gas Company COM 14115T109 1,184 1,990,000 SH   SOLE   1,990,000 0 0
Carrols Restaurant Group Inc COM 14574X104 39,474 3,317,116 SH   SOLE   3,317,116 0 0
Charter Financial Corp COM 16122w108 616 48,591 SH   SOLE   48,591 0 0
Chase Corp COM 16150r104 1,611 40,909 SH   SOLE   40,909 0 0
Cherokee Inc COM 16444H102 12,364 796,652 SH   SOLE   796,652 0 0
Chesapeake Energy Corp COM 165167107 1,395 190,303 SH   SOLE   190,303 0 0
Chimera Investment Corporation COM 16934Q208 2,029 151,790 SH   SOLE   151,790 0 0
Cisco Systems Inc COM 17275R102 1,456 55,450 SH   SOLE   55,450 0 0
CLARCOR Inc COM 179895107 4,517 94,731 SH   SOLE   94,731 0 0
Coach Inc COM 189754104 1,287 44,475 SH   SOLE   44,475 0 0
Computer Task Group Inc COM 205477102 805 130,000 SH   SOLE   130,000 0 0
Dorian LPG LTD COM y2106r110 590 57,200 SH   SOLE   57,200 0 0
DreamWorks Animation SKG COM 26153C103 10,139 581,027 SH   SOLE   581,027 0 0
Dundee Corp - CL A COM 264901109 9,956 1,539,685 SH   SOLE   1,539,685 0 0
Eastern Virginia Bankshares COM 277196101 540 80,000 SH   SOLE   80,000 0 0
Equifax Inc COM 294429105 6,002 61,765 SH   SOLE   61,765 0 0
Equity Commonwealth COM 294628102 12,787 469,415 SH   SOLE   469,415 0 0
EVINE Live Inc COM 300487105 14,515 5,539,976 SH   SOLE   5,539,976 0 0
Exactech Inc COM 30064e109 830 47,600 SH   SOLE   47,600 0 0
FMC Corp COM 302491303 28,860 851,065 SH   SOLE   851,065 0 0
Forestar Group Inc COM 346233109 34,253 2,604,787 SH   SOLE   2,604,787 0 0
Francesca's Holdings Corp COM 351793104 16,145 1,320,145 SH   SOLE   1,320,145 0 0
Franklin Electric Co Inc COM 353514102 9,533 350,105 SH   SOLE   350,105 0 0
FRMO Corp COM 30262f205 799 100,500 SH   SOLE   100,500 0 0
FRP Holdings Inc COM 30292l107 2,092 69,426 SH   SOLE   69,426 0 0
Gain Capital Holdings Inc. COM 36268w100 1,092 150,000 SH   SOLE   150,000 0 0
Global Power Equipment Group O COM 37941p306 477 129,900 SH   SOLE   129,900 0 0
Golden Entertainment Inc COM 381013101 6,901 763,378 SH   SOLE   763,378 0 0
GP Strategies Corp COM 36225V104 17,633 772,713 SH   SOLE   772,713 0 0
Graham Corp Com COM 384556106 780 44,200 SH   SOLE   44,200 0 0
GSI Group Inc COM 36191C205 15,112 1,187,136 SH   SOLE   1,187,136 0 0
Hallador Energy Company COM 40609P105 2,249 323,582 SH   SOLE   323,582 0 0
Hallmark Financial Services In COM 40624Q203 17,234 1,499,910 SH   SOLE   1,499,910 0 0
Halyard Health Inc COM 40650v100 10,595 372,548 SH   SOLE   372,548 0 0
Heritage-Crystal Clean Inc COM 42726M106 19,521 1,900,819 SH   SOLE   1,900,819 0 0
Hertz Global Holdings Inc COM 42805T105 8,162 487,885 SH   SOLE   487,885 0 0
HRG Group Inc COM 40434j100 12,726 1,084,950 SH   SOLE   1,084,950 0 0
International Business Machine COM 459200101 9,551 65,885 SH   SOLE   65,885 0 0
Jamba Inc COM 47023A309 855 60,000 SH   SOLE   60,000 0 0
Johnson Controls Inc COM 478366107 8,730 211,075 SH   SOLE   211,075 0 0
Journal Media Group Inc COM 48114a109 862 115,000 SH   SOLE   115,000 0 0
JPMorgan Chase & Co COM 46625H100 10,512 172,408 SH   SOLE   172,408 0 0
KEYW Holding Corp COM 493723100 384 62,400 SH   SOLE   62,400 0 0
Knight Therapeutics Inc COM 499053106 550 100,000 SH   SOLE   100,000 0 0
Layne Christensen Co COM 521050104 1,152 177,300 SH   SOLE   177,300 0 0
Leucadia National Corp COM 527288104 11,400 562,685 SH   SOLE   562,685 0 0
Level 3 Communications Inc COM 52729N308 10,585 242,275 SH   SOLE   242,275 0 0
Liberty Global PLC - A COM g5480u104 8,803 205,000 SH   SOLE   205,000 0 0
Liberty Global PLC LiLac - A COM G5480u138 12,558 372,738 SH   SOLE   372,738 0 0
Liberty Interactive Corp - A COM 53071m104 7,486 285,390 SH   SOLE   285,390 0 0
Liberty Media Corp CL-A COM 531229102 1,674 46,860 SH   SOLE   46,860 0 0
Liberty Media Corp CL-C COM 531229300 3,474 100,820 SH   SOLE   100,820 0 0
Liberty Ventures Srs A COM 53071m880 16,747 415,047 SH   SOLE   415,047 0 0
MAM Software Group Inc COM 55277Q201 3,051 518,800 SH   SOLE   518,800 0 0
Manitex International Inc COM 563420108 851 151,500 SH   SOLE   151,500 0 0
Millicom International Cellula COM l6388f110 13,387 213,990 SH   SOLE   213,990 0 0
Monmouth Real Estate Investmen COM 609720107 1,230 126,185 SH   SOLE   126,185 0 0
NeuStar Inc COM 64126X201 20,555 755,408 SH   SOLE   755,408 0 0
Northern Technologies Intl COM 665809109 709 45,479 SH   SOLE   45,479 0 0
OM Group Inc COM 670872100 674 20,485 SH   SOLE   20,485 0 0
Overseas Shipholding Group COM 69036r400 678 200,000 SH   SOLE   200,000 0 0
Patriot Transportation Holding COM 70338w105 962 40,000 SH   SOLE   40,000 0 0
Pico Holdings Inc COM 693366205 335 34,600 SH   SOLE   34,600 0 0
Raven Industries Inc COM 754212108 4,191 247,274 SH   SOLE   247,274 0 0
Real Industry Inc COM 75601W104 1,384 156,905 SH   SOLE   156,905 0 0
Remy International Inc COM 75971m108 441 15,065 SH   SOLE   15,065 0 0
Richardson Electronics Ltd. COM 763165107 590 100,000 SH   SOLE   100,000 0 0
SeaWorld Entertainment Inc COM 81282v100 12,177 683,720 SH   SOLE   683,720 0 0
SIFCO Industries Inc COM 826546103 1,242 110,000 SH   SOLE   110,000 0 0
Silver Spring Networks COM 82817q103 902 70,000 SH   SOLE   70,000 0 0
Simulations Plus Inc COM 829214105 1,416 150,000 SH   SOLE   150,000 0 0
Southern Natl Bancorp Of VA In COM 843395104 565 50,001 SH   SOLE   50,001 0 0
Spark Networks Inc COM 84651P100 864 300,000 SH   SOLE   300,000 0 0
Star Gas Partners L.P COM 85512C105 495 58,250 SH   SOLE   58,250 0 0
State Street Corporation COM 857477103 907 13,500 SH   SOLE   13,500 0 0
Symetra Financial Corp COM 87151Q106 2,937 92,834 SH   SOLE   92,834 0 0
TE Connectivity LTD COM H84989104 5,168 86,284 SH   SOLE   86,284 0 0
The Bank of New York Mellon Co COM 064058100 4,814 122,965 SH   SOLE   122,965 0 0
The Boeing Company COM 097023105 2,711 20,700 SH   SOLE   20,700 0 0
Trinity Place Holdings Inc COM 89656d101 175 28,000 SH   SOLE   28,000 0 0
Tupperware Brands Corp COM 899896104 10,704 216,280 SH   SOLE   216,280 0 0
UFP Technologies Inc COM 902673102 1,714 75,000 SH   SOLE   75,000 0 0
United States Lime & Mineral COM 911922102 456 10,000 SH   SOLE   10,000 0 0
Verizon Communications Inc COM 92343V104 1,330 30,575 SH   SOLE   30,575 0 0
ViaSat Inc COM 92552V100 40,815 634,858 SH   SOLE   634,858 0 0
Westell Technologies Inc-A COM 957541105 7,902 6,931,522 SH   SOLE   6,931,522 0 0
White Mountains Insurance Grou COM G9618E107 4,952 6,627 SH   SOLE   6,627 0 0
Windstream Holdings Inc COM 97382a200 767 125,000 SH   SOLE   125,000 0 0
Winthrop Realty Trust COM 976391300 149 10,346 SH   SOLE   10,346 0 0
WPX Energy Inc COM 98212b103 6,134 926,622 SH   SOLE   926,622 0 0
Xura Inc COM 98420v107 21,681 968,768 SH   SOLE   968,768 0 0
Tesco Plc ADR 881575302 9,213 1,106,645 SH   SOLE   1,106,645 0 0
Capital One Financial Corp War WTS 14040H139 206 6,500 SH   SOLE   6,500 0 0