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
3M CO COM 88579Y101 11,423 74,032 SH   SOLE   0 0 74,032
A MARK PRECIOUS METALS INC COM 00181T107 2,324 222,010 SH   SOLE   0 0 222,010
ABB LTD SPONSORED ADR 000375204 768 36,800 SH   SOLE   0 0 36,800
ABBOTT LABS COM 002824100 404 8,250 SH   SOLE   0 0 8,250
ABERDEEN ASIA PACIFIC INCOM COM 003009107 177 35,700 SH   SOLE   0 0 35,700
ABERDEEN JAPAN EQUITY FD INC COM 00306J109 346 41,950 SH   SOLE   0 0 41,950
AGILYSYS INC COM 00847J105 1,315 143,335 SH   SOLE   0 0 143,335
AGRIUM INC COM 008916108 9,078 85,686 SH   SOLE   0 0 85,686
AIR LEASE CORP CL A 00912X302 810 23,900 SH   SOLE   0 0 23,900
ALCOA INC COM 013817101 8,267 741,514 SH   SOLE   0 0 741,514
ALTERA CORP COM 021441100 1,034 20,200 SH   SOLE   0 0 20,200
ALTRIA GROUP INC COM 02209S103 242 4,950 SH   SOLE   0 0 4,950
AMERICAN AIRLS GROUP INC COM 02376R102 283 7,102 SH   SOLE   0 0 7,102
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 12,100 702,675 SH   SOLE   0 0 702,675
AMERICAN FINL GROUP INC OHIO COM 025932104 292 4,500 SH   SOLE   0 0 4,500
AMETEK INC NEW COM 031100100 295 5,400 SH   SOLE   0 0 5,400
AMGEN INC COM 031162100 18,405 119,888 SH   SOLE   0 0 119,888
ANTERO RES CORP COM 03674X106 592 17,250 SH   SOLE   0 0 17,250
ANTHEM INC COM 036752103 828 5,050 SH   SOLE   0 0 5,050
AON PLC SHS CL A G0408V102 2,890 29,000 SH   SOLE   0 0 29,000
APPLE INC COM 037833100 8,965 71,480 SH   SOLE   0 0 71,480
ARTS WAY MFG INC COM 043168103 78 16,775 SH   SOLE   0 0 16,775
ASTRO-MED INC NEW COM 04638F108 143 10,004 SH   SOLE   0 0 10,004
AT&T INC COM 00206R102 701 19,744 SH   SOLE   0 0 19,744
ATLANTIC AMERN CORP COM 048209100 197 54,649 SH   SOLE   0 0 54,649
AUTOMATIC DATA PROCESSING IN COM 053015103 419 5,228 SH   SOLE   0 0 5,228
AVERY DENNISON CORP COM 053611109 24,894 408,514 SH   SOLE   0 0 408,514
AVX CORP NEW COM 002444107 1,323 98,300 SH   SOLE   0 0 98,300
BAKER HUGHES INC COM 057224107 443 7,195 SH   SOLE   0 0 7,195
BANK AMER CORP COM 060505104 1,331 78,236 SH   SOLE   0 0 78,236
BANK NEW YORK MELLON CORP COM 064058100 360 8,600 SH   SOLE   0 0 8,600
BAR HBR BANKSHARES COM 066849100 567 16,012 SH   SOLE   0 0 16,012
BAXTER INTL INC COM 071813109 7,258 103,800 SH   SOLE   0 0 103,800
BED BATH & BEYOND INC COM 075896100 3,137 45,490 SH   SOLE   0 0 45,490
BERKSHIRE HATHAWAY INC DEL CL A 084670108 3,072 15 SH   SOLE   0 0 15
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 6,578 48,333 SH   SOLE   0 0 48,333
BIG LOTS INC COM 089302103 1,709 38,000 SH   SOLE   0 0 38,000
BIODELIVERY SCIENCES INTL IN COM 09060J106 81 10,200 SH   SOLE   0 0 10,200
BLACKROCK CAPITAL INVESTMENT COM 092533108 320 35,100 SH   SOLE   0 0 35,100
BLACKROCK ENHANCED EQT DIV T COM 09251A104 226 28,385 SH   SOLE   0 0 28,385
BLACKROCK FLOAT RATE OME STR COM 09255X100 1,137 84,150 SH   SOLE   0 0 84,150
BLACKROCK MUNIHLDGS NY QLTY COM 09255C106 173 12,800 SH   SOLE   0 0 12,800
BLACKROCK MUNIYIELD NY QLTY COM 09255E102 261 20,000 SH   SOLE   0 0 20,000
BP PLC SPONSORED ADR 055622104 5,887 147,327 SH   SOLE   0 0 147,327
BRISTOL MYERS SQUIBB CO COM 110122108 841 12,650 SH   SOLE   0 0 12,650
BUCKLE INC COM 118440106 11,857 259,065 SH   SOLE   0 0 259,065
CABOT OIL & GAS CORP COM 127097103 22,919 726,692 SH   SOLE   0 0 726,692
CARBO CERAMICS INC COM 140781105 538 12,945 SH   SOLE   0 0 12,945
CARNIVAL CORP PAIRED CTF 143658300 1,512 30,625 SH   SOLE   0 0 30,625
CASTLE A M & CO COM 148411101 74 12,000 SH   SOLE   0 0 12,000
CHEVRON CORP NEW COM 166764100 5,986 62,059 SH   SOLE   0 0 62,059
CHICOS FAS INC COM 168615102 4,381 263,490 SH   SOLE   0 0 263,490
CHIPMOS TECH BERMUDA LTD SHS G2110R114 1,131 51,800 SH   SOLE   0 0 51,800
CISCO SYS INC COM 17275R102 22,705 826,850 SH   SOLE   0 0 826,850
CITIGROUP INC COM NEW 172967424 1,094 19,806 SH   SOLE   0 0 19,806
COCA COLA CO COM 191216100 611 15,600 SH   SOLE   0 0 15,600
COEUR MNG INC COM NEW 192108504 337 59,175 SH   SOLE   0 0 59,175
COHEN & STEERS INFRASTRUCTUR COM 19248A109 277 13,200 SH   SOLE   0 0 13,200
COMMERCIAL METALS CO COM 201723103 893 55,550 SH   SOLE   0 0 55,550
CONOCOPHILLIPS COM 20825C104 878 14,310 SH   SOLE   0 0 14,310
CONSOL ENERGY INC COM 20854P109 886 40,800 SH   SOLE   0 0 40,800
CONSOLIDATED EDISON INC COM 209115104 8,058 139,220 SH   SOLE   0 0 139,220
CORE LABORATORIES N V COM N22717107 8,502 74,554 SH   SOLE   0 0 74,554
CORNING INC COM 219350105 33,434 1,694,604 SH   SOLE   0 0 1,694,604
CROCS INC COM 227046109 373 25,405 SH   SOLE   0 0 25,405
CVS HEALTH CORP COM 126650100 1,499 14,300 SH   SOLE   0 0 14,300
CYCLACEL PHARMACEUTICALS INC COM NEW 23254L306 14 17,500 SH   SOLE   0 0 17,500
D R HORTON INC COM 23331A109 338 12,390 SH   SOLE   0 0 12,390
DARLING INGREDIENTS INC COM 237266101 6,749 460,435 SH   SOLE   0 0 460,435
DEUTSCHE MULTI-MKT INCOME TR SHS 25160E102 605 74,600 SH   SOLE   0 0 74,600
DICKS SPORTING GOODS INC COM 253393102 3,848 74,340 SH   SOLE   0 0 74,340
DISNEY WALT CO COM DISNEY 254687106 1,232 10,801 SH   SOLE   0 0 10,801
DONEGAL GROUP INC CL A 257701201 189 12,410 SH   SOLE   0 0 12,410
DOT HILL SYS CORP COM 25848T109 367 60,000 SH   SOLE   0 0 60,000
DREYFUS HIGH YIELD STRATEGIE SH BEN INT 26200S101 56 16,775 SH   SOLE   0 0 16,775
DSW INC CL A 23334L102 1,940 58,150 SH   SOLE   0 0 58,150
DU PONT E I DE NEMOURS & CO COM 263534109 10,285 160,831 SH   SOLE   0 0 160,831
EATON VANCE FLTING RATE INC COM 278279104 378 27,500 SH   SOLE   0 0 27,500
EATON VANCE LTD DUR INCOME F COM 27828H105 571 42,450 SH   SOLE   0 0 42,450
EATON VANCE SR FLTNG RTE TR COM 27828Q105 152 11,100 SH   SOLE   0 0 11,100
ELLIS PERRY INTL INC COM 288853104 534 22,500 SH   SOLE   0 0 22,500
EMERSON ELEC CO COM 291011104 2,022 36,485 SH   SOLE   0 0 36,485
ENERPLUS CORP COM 292766102 299 34,100 SH   SOLE   0 0 34,100
EQUUS TOTAL RETURN INC COM 294766100 33 17,735 SH   SOLE   0 0 17,735
ERIN ENERGY CORP COM 295625107 80 20,473 SH   SOLE   0 0 20,473
ESSEX RENT CORP COM 297187106 8 10,000 SH   SOLE   0 0 10,000
EVERSOURCE ENERGY COM 30040W108 261 5,748 SH   SOLE   0 0 5,748
EXAMWORKS GROUP INC COM 30066A105 737 18,856 SH   SOLE   0 0 18,856
EXELON CORP COM 30161N101 359 11,450 SH   SOLE   0 0 11,450
EXPRESS SCRIPTS HLDG CO COM 30219G108 229 2,580 SH   SOLE   0 0 2,580
EXXON MOBIL CORP COM 30231G102 27,001 324,533 SH   SOLE   0 0 324,533
FIRST TR SR FLG RTE INCM FD COM 33733U108 153 11,700 SH   SOLE   0 0 11,700
FIRSTENERGY CORP COM 337932107 1,805 55,466 SH   SOLE   0 0 55,466
FLEXTRONICS INTL LTD ORD Y2573F102 5,804 513,177 SH   SOLE   0 0 513,177
FORD MTR CO DEL COM PAR $0.01 345370860 307 20,468 SH   SOLE   0 0 20,468
FREEPORT-MCMORAN INC CL B 35671D857 1,200 64,475 SH   SOLE   0 0 64,475
FREIGHTCAR AMER INC COM 357023100 9,468 453,455 SH   SOLE   0 0 453,455
FRIEDMAN INDS INC COM 358435105 1,186 189,870 SH   SOLE   0 0 189,870
GENERAL ELECTRIC CO COM 369604103 36,671 1,380,169 SH   SOLE   0 0 1,380,169
GENERAL MLS INC COM 370334104 704 12,650 SH   SOLE   0 0 12,650
GENERAL MTRS CO COM 37045V100 6,341 190,250 SH   SOLE   0 0 190,250
GENTEX CORP COM 371901109 3,951 240,650 SH   SOLE   0 0 240,650
GETTY RLTY CORP NEW COM 374297109 788 48,212 SH   SOLE   0 0 48,212
GILEAD SCIENCES INC COM 375558103 468 4,000 SH   SOLE   0 0 4,000
GLADSTONE LD CORP COM 376549101 157 15,200 SH   SOLE   0 0 15,200
GOLDFIELD CORP COM 381370105 123 74,516 SH   SOLE   0 0 74,516
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 1,154 62,250 SH   SOLE   0 0 62,250
GSE SYS INC COM 36227K106 17 11,500 SH   SOLE   0 0 11,500
HALLIBURTON CO COM 406216101 1,468 34,106 SH   SOLE   0 0 34,106
HARDINGE INC COM 412324303 647 65,700 SH   SOLE   0 0 65,700
HARRIS & HARRIS GROUP INC COM 413833104 220 80,000 SH   SOLE   0 0 80,000
HARSCO CORP COM 415864107 2,017 122,282 SH   SOLE   0 0 122,282
HEALTHCARE SVCS GRP INC COM 421906108 788 23,850 SH   SOLE   0 0 23,850
HOME DEPOT INC COM 437076102 1,883 16,950 SH   SOLE   0 0 16,950
HSBC HLDGS PLC ADR A 1/40PF A 404280604 341 13,525 SH   SOLE   0 0 13,525
II VI INC COM 902104108 6,083 320,510 SH   SOLE   0 0 320,510
ILLINOIS TOOL WKS INC COM 452308109 11,454 124,785 SH   SOLE   0 0 124,785
IMMUCELL CORP COM PAR $0.10 452525306 388 49,468 SH   SOLE   0 0 49,468
INTEL CORP COM 458140100 29,952 984,807 SH   SOLE   0 0 984,807
INTELLIGENT SYS CORP NEW COM 45816D100 221 74,468 SH   SOLE   0 0 74,468
INTERCONTINENTAL EXCHANGE IN COM 45866F104 245 1,100 SH   SOLE   0 0 1,100
INTERNATIONAL BUSINESS MACHS COM 459200101 2,836 17,436 SH   SOLE   0 0 17,436
INVESCO TR INVT GRADE MUNS COM 46131M106 417 32,900 SH   SOLE   0 0 32,900
INVESCO TR INVT GRADE NY MUN COM 46131T101 333 25,000 SH   SOLE   0 0 25,000
ITT CORP NEW COM NEW 450911201 600 14,352 SH   SOLE   0 0 14,352
JACOBS ENGR GROUP INC DEL COM 469814107 12,269 302,055 SH   SOLE   0 0 302,055
JETBLUE AIRWAYS CORP COM 477143101 208 10,050 SH   SOLE   0 0 10,050
JOHNSON & JOHNSON COM 478160104 4,079 41,854 SH   SOLE   0 0 41,854
JOHNSON CTLS INC COM 478366107 24,138 487,344 SH   SOLE   0 0 487,344
JOY GLOBAL INC COM 481165108 8,008 221,220 SH   SOLE   0 0 221,220
JPMORGAN CHASE & CO COM 46625H100 15,907 234,767 SH   SOLE   0 0 234,767
KELLY SVCS INC CL A 488152208 5,390 351,200 SH   SOLE   0 0 351,200
KENNAMETAL INC COM 489170100 18,608 545,375 SH   SOLE   0 0 545,375
KERYX BIOPHARMACEUTICALS INC COM 492515101 346 34,700 SH   SOLE   0 0 34,700
KIMBERLY CLARK CORP COM 494368103 370 3,500 SH   SOLE   0 0 3,500
KNOWLES CORP COM 49926D109 3,228 178,355 SH   SOLE   0 0 178,355
KOHLS CORP COM 500255104 14,220 227,135 SH   SOLE   0 0 227,135
KONINKLIJKE PHILIPS N V NY REG SH NEW 500472303 266 10,476 SH   SOLE   0 0 10,476
L-3 COMMUNICATIONS HLDGS INC COM 502424104 396 3,500 SH   SOLE   0 0 3,500
LEGG MASON INC COM 524901105 463 9,000 SH   SOLE   0 0 9,000
LEXINGTON REALTY TRUST COM 529043101 282 33,329 SH   SOLE   0 0 33,329
LIBERTY BROADBAND CORP COM SER A 530307107 854 16,756 SH   SOLE   0 0 16,756
LIBERTY BROADBAND CORP COM SER C 530307305 2,256 44,098 SH   SOLE   0 0 44,098
LIBERTY MEDIA CORP DELAWARE CL A 531229102 2,436 67,605 SH   SOLE   0 0 67,605
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 7,314 203,760 SH   SOLE   0 0 203,760
LILLY ELI & CO COM 532457108 4,453 53,344 SH   SOLE   0 0 53,344
M & T BK CORP COM 55261F104 1,133 9,074 SH   SOLE   0 0 9,074
MAGELLAN PETE CORP COM 559091301 12 29,500 SH   SOLE   0 0 29,500
MANHATTAN BRIDGE CAPITAL INC COM 562803106 161 36,675 SH   SOLE   0 0 36,675
MEAD JOHNSON NUTRITION CO COM 582839106 405 4,500 SH   SOLE   0 0 4,500
MEADOWBROOK INS GROUP INC COM 58319P108 895 104,100 SH   SOLE   0 0 104,100
MEDICAL PPTYS TRUST INC COM 58463J304 407 31,100 SH   SOLE   0 0 31,100
MEDTRONIC PLC SHS G5960L103 991 13,378 SH   SOLE   0 0 13,378
MERCER INTL INC COM 588056101 359 26,300 SH   SOLE   0 0 26,300
MERCK & CO INC NEW COM 58933Y105 490 8,624 SH   SOLE   0 0 8,624
METLIFE INC COM 59156R108 13,936 248,907 SH   SOLE   0 0 248,907
MFC INDL LTD COM 55278T105 104 25,850 SH   SOLE   0 0 25,850
MFS INTER INCOME TR SH BEN INT 55273C107 680 147,190 SH   SOLE   0 0 147,190
MICROSOFT CORP COM 594918104 11,156 252,704 SH   SOLE   0 0 252,704
MIDDLEBURG FINANCIAL CORP COM 596094102 2,391 132,863 SH   SOLE   0 0 132,863
MITCHAM INDS INC COM 606501104 64 15,450 SH   SOLE   0 0 15,450
MONMOUTH REAL ESTATE INVT CO CL A 609720107 1,173 120,700 SH   SOLE   0 0 120,700
MORGAN STANLEY COM NEW 617446448 442 11,400 SH   SOLE   0 0 11,400
MOSAIC CO NEW COM 61945C103 8,234 175,765 SH   SOLE   0 0 175,765
NATIONAL FUEL GAS CO N J COM 636180101 230 3,910 SH   SOLE   0 0 3,910
NATIONAL WESTN LIFE INS CO CL A 638522102 11,844 49,456 SH   SOLE   0 0 49,456
NEWPORT CORP COM 651824104 7,921 417,825 SH   SOLE   0 0 417,825
NORTHERN TR CORP COM 665859104 267 3,500 SH   SOLE   0 0 3,500
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 381 6,800 SH   SOLE   0 0 6,800
NOVARTIS A G SPONSORED ADR 66987V109 1,647 16,757 SH   SOLE   0 0 16,757
NOW INC COM 67011P100 4,016 201,740 SH   SOLE   0 0 201,740
NUCOR CORP COM 670346105 11,229 254,805 SH   SOLE   0 0 254,805
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 140 16,300 SH   SOLE   0 0 16,300
NUVEEN MUN VALUE FD INC COM 670928100 197 20,500 SH   SOLE   0 0 20,500
NUVEEN PFD INCOME OPPRTNY FD COM 67073B106 91 10,000 SH   SOLE   0 0 10,000
NUVEEN QUALITY PFD INC FD 3 COM 67072W101 121 14,950 SH   SOLE   0 0 14,950
NUVEEN QUALITY PFD INCOME FD COM 67071S101 105 13,300 SH   SOLE   0 0 13,300
NUVEEN QUALITY PFD INCOME FD COM 67072C105 99 11,700 SH   SOLE   0 0 11,700
OLD REP INTL CORP COM 680223104 452 28,975 SH   SOLE   0 0 28,975
OMEGA PROTEIN CORP COM 68210P107 1,420 103,300 SH   SOLE   0 0 103,300
OPKO HEALTH INC COM 68375N103 1,450 90,200 SH   SOLE   0 0 90,200
ORBOTECH LTD ORD M75253100 459 22,100 SH   SOLE   0 0 22,100
PANDORA MEDIA INC COM 698354107 233 15,000 SH   SOLE   0 0 15,000
PDC ENERGY INC COM 69327R101 702 13,100 SH   SOLE   0 0 13,100
PEPSICO INC COM 713448108 595 6,385 SH   SOLE   0 0 6,385
PFIZER INC COM 717081103 4,019 119,883 SH   SOLE   0 0 119,883
PHILLIPS 66 COM 718546104 209 2,600 SH   SOLE   0 0 2,600
PIMCO INCOME STRATEGY FUND COM 72201H108 465 42,900 SH   SOLE   0 0 42,900
PIMCO INCOME STRATEGY FUND I COM 72201J104 374 38,100 SH   SOLE   0 0 38,100
POTASH CORP SASK INC COM 73755L107 20,470 660,975 SH   SOLE   0 0 660,975
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 311 2,913 SH   SOLE   0 0 2,913
PROSPECT CAPITAL CORPORATION COM 74348T102 1,538 208,800 SH   SOLE   0 0 208,800
PUBLIC SVC ENTERPRISE GROUP COM 744573106 851 21,666 SH   SOLE   0 0 21,666
PUTNAM PREMIER INCOME TR SH BEN INT 746853100 604 118,600 SH   SOLE   0 0 118,600
QUALCOMM INC COM 747525103 2,181 34,839 SH   SOLE   0 0 34,839
QUEST DIAGNOSTICS INC COM 74834L100 731 10,080 SH   SOLE   0 0 10,080
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 228 14,000 SH   SOLE   0 0 14,000
RAND CAP CORP COM 752185108 530 136,300 SH   SOLE   0 0 136,300
RESEARCH FRONTIERS INC COM 760911107 1,131 211,850 SH   SOLE   0 0 211,850
ROCKWELL COLLINS INC COM 774341101 14,406 155,995 SH   SOLE   0 0 155,995
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 505 8,873 SH   SOLE   0 0 8,873
RTI SURGICAL INC COM 74975N105 271 42,000 SH   SOLE   0 0 42,000
SALISBURY BANCORP INC COM 795226109 305 9,975 SH   SOLE   0 0 9,975
SANDISK CORP COM 80004C101 2,643 45,406 SH   SOLE   0 0 45,406
SANOFI SPONSORED ADR 80105N105 341 6,900 SH   SOLE   0 0 6,900
SCHEIN HENRY INC COM 806407102 1,208 8,500 SH   SOLE   0 0 8,500
SCHMITT INDS INC ORE COM NEW 806870200 32 12,000 SH   SOLE   0 0 12,000
SCHNITZER STL INDS CL A 806882106 9,689 554,615 SH   SOLE   0 0 554,615
SEABOARD CORP COM 811543107 1,133 315 SH   SOLE   0 0 315
SENECA FOODS CORP NEW CL A 817070501 1,106 39,850 SH   SOLE   0 0 39,850
SIMPSON MANUFACTURING CO INC COM 829073105 613 18,055 SH   SOLE   0 0 18,055
SOLAZYME INC COM 83415T101 861 274,500 SH   SOLE   0 0 274,500
SONOCO PRODS CO COM 835495102 13,756 320,970 SH   SOLE   0 0 320,970
SPDR S&P 500 ETF TR TR UNIT 78462F103 333 1,618 SH   SOLE   0 0 1,618
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 843 3,089 SH   SOLE   0 0 3,089
SPDR SERIES TRUST S&P BIOTECH 78464A870 983 3,900 SH   SOLE   0 0 3,900
SPROTT FOCUS TR INC COM 85208J109 454 64,134 SH   SOLE   0 0 64,134
STEMCELLS INC COM NEW 85857R204 5 10,000 SH   SOLE   0 0 10,000
STRYKER CORP COM 863667101 8,505 89,000 SH   SOLE   0 0 89,000
SUPERIOR INDS INTL INC COM 868168105 2,565 140,130 SH   SOLE   0 0 140,130
SUTRON CORP COM 869380105 414 49,000 SH   SOLE   0 0 49,000
SWISS HELVETIA FD INC COM 870875101 315 26,960 SH   SOLE   0 0 26,960
SYNGENTA AG SPONSORED ADR 87160A100 639 7,840 SH   SOLE   0 0 7,840
SYSTEMAX INC COM 871851101 3,385 391,870 SH   SOLE   0 0 391,870
TAL INTL GROUP INC COM 874083108 1,300 41,150 SH   SOLE   0 0 41,150
TARGET CORP COM 87612E106 1,409 17,264 SH   SOLE   0 0 17,264
TEJON RANCH CO COM 879080109 9,398 365,550 SH   SOLE   0 0 365,550
TEMPLETON GLOBAL INCOME FD COM 880198106 468 66,575 SH   SOLE   0 0 66,575
TERADYNE INC COM 880770102 2,927 151,745 SH   SOLE   0 0 151,745
TESORO CORP COM 881609101 987 11,700 SH   SOLE   0 0 11,700
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 3,775 63,890 SH   SOLE   0 0 63,890
TEXAS INSTRS INC COM 882508104 19,619 380,886 SH   SOLE   0 0 380,886
THERMO FISHER SCIENTIFIC INC COM 883556102 8,364 64,460 SH   SOLE   0 0 64,460
TICC CAPITAL CORP COM 87244T109 117 17,500 SH   SOLE   0 0 17,500
TIME WARNER CABLE INC COM 88732J207 893 5,016 SH   SOLE   0 0 5,016
TIME WARNER INC COM NEW 887317303 1,744 19,955 SH   SOLE   0 0 19,955
TOWNSQUARE MEDIA INC CL A 892231101 135 10,000 SH   SOLE   0 0 10,000
TRI POINTE HOMES INC COM 87265H109 9,810 641,200 SH   SOLE   0 0 641,200
TRINITY INDS INC COM 896522109 1,041 39,400 SH   SOLE   0 0 39,400
UNILEVER PLC SPON ADR NEW 904767704 618 14,400 SH   SOLE   0 0 14,400
UNION PAC CORP COM 907818108 305 3,200 SH   SOLE   0 0 3,200
UNITED PARCEL SERVICE INC CL B 911312106 370 3,825 SH   SOLE   0 0 3,825
UNITED TECHNOLOGIES CORP COM 913017109 280 2,525 SH   SOLE   0 0 2,525
UNITEDHEALTH GROUP INC COM 91324P102 17,441 142,965 SH   SOLE   0 0 142,965
VALERO ENERGY CORP NEW COM 91913Y100 863 13,800 SH   SOLE   0 0 13,800
VALMONT INDS INC COM 920253101 9,368 78,810 SH   SOLE   0 0 78,810
VERIZON COMMUNICATIONS INC COM 92343V104 10,212 219,106 SH   SOLE   0 0 219,106
VINCE HLDG CORP COM 92719W108 1,684 140,600 SH   SOLE   0 0 140,600
VISHAY INTERTECHNOLOGY INC COM 928298108 634 54,300 SH   SOLE   0 0 54,300
VISHAY PRECISION GROUP INC COM 92835K103 9,698 644,000 SH   SOLE   0 0 644,000
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 22,136 607,323 SH   SOLE   0 0 607,323
VOYA PRIME RATE TR SH BEN INT 92913A100 52 10,000 SH   SOLE   0 0 10,000
WALGREENS BOOTS ALLIANCE INC COM 931427108 422 5,000 SH   SOLE   0 0 5,000
WALKER & DUNLOP INC COM 93148P102 12,276 459,115 SH   SOLE   0 0 459,115
WENDYS CO COM 95058W100 10,952 970,925 SH   SOLE   0 0 970,925
WESTERN ASSET GLB PTNRS INCO COM 95766G108 180 19,700 SH   SOLE   0 0 19,700
WESTERN ASST MN PRT FD INC COM 95766P108 231 15,445 SH   SOLE   0 0 15,445
WHITING PETE CORP NEW COM 966387102 231 6,900 SH   SOLE   0 0 6,900
WORLD FUEL SVCS CORP COM 981475106 7,507 156,560 SH   SOLE   0 0 156,560
WP GLIMCHER IN COM 92939N102 3,371 249,180 SH   SOLE   0 0 249,180
XYLEM INC COM 98419M100 992 26,778 SH   SOLE   0 0 26,778