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
LGL GROUP INC W EXP 08/06/2018 50186A116 10 282,095 SH   SOLE   38,100 0 243,995
AMERICAN CAP LTD COM 02503Y103 407 26,650 SH   SOLE   0 0 26,650
ACME UTD CORP COM 004816104 4,722 281,886 SH   SOLE   71,776 0 210,110
AEGION CORP COM 00770F104 15,211 653,657 SH   SOLE   87,750 0 565,907
FEDERAL AGRIC MTG CORP CL C 313148306 28,395 913,610 SH   SOLE   108,263 0 805,347
ARLINGTON ASSET INVT CORP CL A NEW 041356205 272 9,961 SH   SOLE   0 0 9,961
ANDERSONS INC COM 034164103 5,429 105,263 SH   SOLE   0 0 105,263
ANADARKO PETE CORP COM 032511107 257 2,350 SH   SOLE   0 0 2,350
ADVANCED PHOTONIX INC CL A 00754E107 691 1,132,075 SH   SOLE   1,132,075 0 0
ARI NETWORK SVCS INC COM NEW 001930205 1,566 516,667 SH   SOLE   516,667 0 0
ASTA FDG INC COM 046220109 1,089 132,060 SH   SOLE   65,169 0 66,891
AMERICAN WTR WKS CO INC NEW COM 030420103 37,751 763,410 SH   SOLE   154,600 0 608,810
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 4,457 100,662 SH   SOLE   0 0 100,662
BBCN BANCORP INC COM 073295107 3,342 209,510 SH   SOLE   140,089 0 69,421
BANK COMM HLDGS COM 06424J103 1,689 266,800 SH   SOLE   220,000 0 46,800
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 507 4,004 SH   SOLE   200 0 3,804
CAMBRIDGE CAP ACQUISITION CO COM 13215Q106 488 50,000 SH   SOLE   50,000 0 0
CAMBRIDGE CAP ACQUISITION CO W EXP 12/23/2018 13215Q114 18 50,000 SH   SOLE   50,000 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 228 3,350 SH   SOLE   0 0 3,350
CENTRAL GARDEN & PET CO COM 153527106 1,728 189,929 SH   SOLE   14,100 0 175,829
CHINDEX INTERNATIONAL INC COM 169467107 7,817 329,964 SH   SOLE   116,157 0 213,807
CHINA HOUSING & LAND DEV INC COM 16939V103 25 13,581 SH   SOLE   9,020 0 4,561
CHINA FD INC COM 169373107 3,669 173,302 SH   SOLE   439 0 172,863
CHINA CORD BLOOD CORP SHS G21107100 1,087 196,830 SH   SOLE   0 0 196,830
CHINA PHARMA HLDGS INC COM 16941T104 539 1,399,396 SH   SOLE   772,900 0 626,496
CRAWFORD & CO CL A 224633206 11,601 1,432,189 SH   SOLE   160,154 0 1,272,035
AMERICAS CAR MART INC COM 03062T105 1,760 44,507 SH   SOLE   7,600 0 36,907
CISCO SYS INC COM 17275R102 275 11,066 SH   SOLE   500 0 10,566
CASH AMER INTL INC COM 14754D100 15,975 359,564 SH   SOLE   29,450 0 330,114
CENTURYLINK INC COM 156700106 2,181 60,247 SH   SOLE   7,800 0 52,447
CUSTOMERS BANCORP INC COM 23204G100 12,797 639,532 SH   SOLE   0 0 639,532
CVS CAREMARK CORPORATION COM 126650100 411 5,450 SH   SOLE   0 0 5,450
CPI AEROSTRUCTURES INC COM NEW 125919308 418 33,000 SH   SOLE   0 0 33,000
CHEVRON CORP NEW COM 166764100 242 1,850 SH   SOLE   0 0 1,850
DISCOVER FINL SVCS COM 254709108 2,593 41,842 SH   SOLE   0 0 41,842
DEVRY ED GROUP INC COM 251893103 9,490 224,127 SH   SOLE   56,200 0 167,927
DESTINATION XL GROUP INC COM 25065K104 3,514 637,807 SH   SOLE   48,300 0 589,507
US ECOLOGY INC COM 91732J102 426 8,700 SH   SOLE   0 0 8,700
EXCEED COMPANY LTD SHS G32335104 1,221 701,965 SH   SOLE   206,750 0 495,215
EDUCATIONAL DEV CORP COM 281479105 230 58,292 SH   SOLE   58,292 0 0
E M C CORP MASS COM 268648102 214 8,125 SH   SOLE   0 0 8,125
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 11,097 215,102 SH   SOLE   4,300 0 210,802
ESSEX RENT CORP COM 297187106 2,527 1,040,094 SH   SOLE   0 0 1,040,094
EAST WEST BANCORP INC COM 27579R104 16,752 478,772 SH   SOLE   33,500 0 445,272
EZCORP INC CL A NON VTG 302301106 11,227 972,055 SH   SOLE   0 0 972,055
FARMERS CAP BK CORP COM 309562106 1,093 48,365 SH   SOLE   48,365 0 0
FARMERS NATL BANC CORP COM 309627107 2,758 354,057 SH   SOLE   31,300 0 322,757
FLEXIBLE SOLUTIONS INTL INC COM 33938T104 111 132,738 SH   SOLE   53,388 0 79,350
FMC TECHNOLOGIES INC COM 30249U101 290 4,750 SH   SOLE   0 0 4,750
LE GAGA HLDGS LTD SPONSORED ADR 521168104 3,378 967,923 SH   SOLE   214,610 0 753,313
STEALTHGAS INC SHS Y81669106 6,984 629,162 SH   SOLE   0 0 629,162
ABERDEEN GTR CHINA FD INC COM 003031101 1,834 175,518 SH   SOLE   0 0 175,518
GENERAL ELECTRIC CO COM 369604103 3,230 122,905 SH   SOLE   0 0 122,905
GENERAL FIN CORP DEL COM 369822101 439 46,241 SH   SOLE   45,291 0 950
GATX CORP COM 361448103 770 11,510 SH   SOLE   0 0 11,510
GENWORTH FINL INC COM CL A 37247D106 16,953 974,337 SH   SOLE   22,600 0 951,737
GP STRATEGIES CORP COM 36225V104 260 10,031 SH   SOLE   0 0 10,031
GENESEE & WYO INC CL A 371559105 541 5,150 SH   SOLE   0 0 5,150
HANMI FINL CORP COM NEW 410495204 488 23,145 SH   SOLE   0 0 23,145
CLAYMORE EXCHANGE TRD FD TR GUGG CHN SML CAP 18383Q853 202 8,000 SH   SOLE   8,000 0 0
HOPFED BANCORP INC COM 439734104 1,571 135,212 SH   SOLE   40,132 0 95,080
HONEYWELL INTL INC COM 438516106 381 4,100 SH   SOLE   0 0 4,100
HORNBECK OFFSHORE SVCS INC N COM 440543106 570 12,150 SH   SOLE   0 0 12,150
HUMANA INC COM 444859102 2,679 20,978 SH   SOLE   0 0 20,978
INTEST CORP COM 461147100 1,964 504,854 SH   SOLE   47,900 0 456,954
INNOSPEC INC COM 45768S105 19,288 446,801 SH   SOLE   71,200 0 375,601
NEW IRELAND FUND INC COM 645673104 298 21,863 SH   SOLE   10,100 0 11,763
ABERDEEN JAPAN EQUITY FD INC COM 00306J109 1,066 149,951 SH   SOLE   5,212 0 144,739
JOHNSON & JOHNSON COM 478160104 497 4,753 SH   SOLE   0 0 4,753
JAPAN SMALLER CAPTLZTN FD IN COM 47109U104 3,921 414,859 SH   SOLE   26,910 0 387,949
JINPAN INTL LTD ORD G5138L100 9,543 1,415,891 SH   SOLE   190,442 0 1,225,449
KOREA EQUITY FD INC COM 50063B104 207 23,397 SH   SOLE   0 0 23,397
KIRBY CORP COM 497266106 363 3,100 SH   SOLE   0 0 3,100
KOREA FD COM NEW 500634209 274 6,424 SH   SOLE   0 0 6,424
KRATON PERFORMANCE POLYMERS COM 50077C106 3,535 157,889 SH   SOLE   0 0 157,889
LGL GROUP INC COM 50186A108 288 55,919 SH   SOLE   7,620 0 48,299
LIQTECH INTL INC COM 53632A102 28 13,900 SH   SOLE   0 0 13,900
LIMONEIRA CO COM 532746104 2,344 106,669 SH   SOLE   23,017 0 83,652
LSB INDS INC COM 502160104 14,184 340,384 SH   SOLE   65,146 0 275,238
MCG CAPITAL CORP COM 58047P107 2,146 547,377 SH   SOLE   1,142 0 546,235
MCDERMOTT INTL INC COM 580037109 271 33,550 SH   SOLE   0 0 33,550
MDU RES GROUP INC COM 552690109 4,925 140,327 SH   SOLE   30,150 0 110,177
METHANEX CORP COM 59151K108 1,621 26,242 SH   SOLE   0 0 26,242
MICROFINANCIAL INC COM 595072109 556 71,950 SH   SOLE   0 0 71,950
MFRI INC COM 552721102 3,477 304,721 SH   SOLE   46,882 0 257,839
MOBILE MINI INC COM 60740F105 16,731 349,372 SH   SOLE   8,800 0 340,572
MILLER INDS INC TENN COM NEW 600551204 912 44,305 SH   SOLE   0 0 44,305
MANITEX INTL INC COM 563420108 14,662 902,829 SH   SOLE   294,720 0 608,109
MARATHON PETE CORP COM 56585A102 342 4,375 SH   SOLE   0 0 4,375
MICROSOFT CORP COM 594918104 545 13,066 SH   SOLE   0 0 13,066
MATRIX SVC CO COM 576853105 20,950 638,915 SH   SOLE   12,600 0 626,315
NATURES SUNSHINE PRODUCTS IN COM 639027101 23,073 1,359,633 SH   SOLE   245,632 0 1,114,001
NORTHERN TECH INTL CORP COM 665809109 1,003 47,615 SH   SOLE   0 0 47,615
NUTRACEUTICAL INTL CORP COM 67060Y101 5,966 250,055 SH   SOLE   9,697 0 240,358
NV5 HLDGS INC COM 62945V109 7,072 717,966 SH   SOLE   16,600 0 701,366
NATIONAL WESTN LIFE INS CO CL A 638522102 10,973 43,994 SH   SOLE   3,001 0 40,993
OWENS ILL INC COM NEW 690768403 22,431 647,543 SH   SOLE   16,400 0 631,143
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 312 21,300 SH   SOLE   15,800 0 5,500
PFIZER INC COM 717081103 434 14,626 SH   SOLE   500 0 14,126
EPLUS INC COM 294268107 2,212 38,009 SH   SOLE   0 0 38,009
PRGX GLOBAL INC COM NEW 69357C503 4,364 682,884 SH   SOLE   106,318 0 576,566
RENT A CTR INC NEW COM 76009N100 22,088 770,151 SH   SOLE   126,401 0 643,750
RENAISSANCERE HOLDINGS LTD COM G7496G103 4,111 38,424 SH   SOLE   0 0 38,424
RRSAT GLOBAL COMM NTWRK LTD SHS M8183P102 1,528 170,731 SH   SOLE   17,688 0 153,043
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 22,476 2,096,609 SH   SOLE   356,232 0 1,740,377
SERVICE CORP INTL COM 817565104 12,256 591,506 SH   SOLE   33,226 0 558,280
SPECTRA ENERGY CORP COM 847560109 767 18,050 SH   SOLE   250 0 17,800
SWIFT ENERGY CO COM 870738101 7,289 561,528 SH   SOLE   77,000 0 484,528
ABERDEEN SINGAPORE FD INC COM 003244100 470 35,944 SH   SOLE   10,849 0 25,095
INVENTURE FOODS INC COM 461212102 11,163 990,540 SH   SOLE   290,726 0 699,814
SPAN AMER MED SYS INC COM 846396109 1,060 49,946 SH   SOLE   40,108 0 9,838
ST JUDE MED INC COM 790849103 301 4,350 SH   SOLE   0 0 4,350
SUTRON CORP COM 869380105 584 117,469 SH   SOLE   0 0 117,469
SEAGATE TECHNOLOGY PLC SHS G7945M107 11,784 207,391 SH   SOLE   500 0 206,891
TOP IMAGE SYSTEMS LTD ORD M87896102 117 29,822 SH   SOLE   29,822 0 0
TITAN MACHY INC COM 88830R101 4,641 281,978 SH   SOLE   5,600 0 276,378
TOR MINERALS INTL INC COM NEW 890878309 981 104,511 SH   SOLE   104,511 0 0
TRAVELERS COMPANIES INC COM 89417E109 9,236 98,184 SH   SOLE   3,596 0 94,588
TETRA TECH INC NEW COM 88162G103 9,166 333,304 SH   SOLE   51,000 0 282,304
TUPPERWARE BRANDS CORP COM 899896104 25,251 301,685 SH   SOLE   46,450 0 255,235
USA TECHNOLOGIES INC COM NO PAR 90328S500 279 132,000 SH   SOLE   58,000 0 74,000
UNITIL CORP COM 913259107 1,768 52,275 SH   SOLE   0 0 52,275
VIMPELCOM LTD SPONSORED ADR 92719A106 87 10,300 SH   SOLE   10,300 0 0
VOXX INTL CORP CL A 91829F104 402 42,700 SH   SOLE   0 0 42,700
WILSHIRE BANCORP INC COM 97186T108 19,885 1,936,261 SH   SOLE   652,155 0 1,284,106
EXXON MOBIL CORP COM 30231G102 508 5,049 SH   SOLE   0 0 5,049
HORSEHEAD HLDG CORP COM 440694305 2,854 156,317 SH   SOLE   0 0 156,317
CHINA ZENIX AUTO INTL LTD ADS 16951E104 71 31,500 SH   SOLE   0 0 31,500