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
AGNICO EAGLE MINES LTD COM 008474108 8,374 317,438 SH   SOLE   317,438 0 0
ALCOA INC COM 013817101 19,347 1,820,070 SH   SOLE   1,820,070 0 0
AMERICAN EXPRESS CO COM 025816109 436 4,805 SH   SOLE   4,805 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 8,477 723,325 SH   SOLE   723,325 0 0
APACHE CORP COM 037411105 769 8,950 SH   SOLE   8,950 0 0
APPLIED MATLS INC COM 038222105 321 18,145 SH   SOLE   18,145 0 0
ASA GOLD AND PRECIOUS MTLS L SHS G3156P103 5,414 441,620 SH   SOLE   441,620 0 0
ASTEC INDS INC COM 046224101 36,394 942,113 SH   SOLE   942,113 0 0
BANRO CORP COM 066800103 284 510,450 SH   SOLE   510,450 0 0
BECTON DICKINSON & CO COM 075887109 300 2,715 SH   SOLE   2,715 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 54,790 462,128 SH   SOLE   462,128 0 0
C D I CORP COM 125071100 22,683 1,224,130 SH   SOLE   1,224,130 0 0
CISCO SYS INC COM 17275R102 56,311 2,510,503 SH   SOLE   2,510,503 0 0
COHU INC COM 192576106 1,852 176,371 SH   SOLE   176,371 0 0
COMCAST CORP NEW CL A SPL 20030N200 25,553 512,297 SH   SOLE   512,297 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 6,541 582,937 SH   SOLE   582,937 0 0
COMSTOCK MNG INC COM 205750102 18,260 10,434,025 SH   SOLE   10,434,025 0 0
CORE MARK HOLDING CO INC COM 218681104 26,966 355,143 SH   SOLE   355,143 0 0
CORNING INC COM 219350105 63,158 3,544,226 SH   SOLE   3,544,226 0 0
CTPARTNERS EXECUTIVE SEARCH COM 22945C105 246 43,955 SH   SOLE   43,955 0 0
CUI GLOBAL INC COM NEW 126576206 906 143,394 SH   SOLE   143,394 0 0
DAWSON GEOPHYSICAL CO COM 239359102 4,141 122,438 SH   SOLE   122,438 0 0
DIREXION SHS ETF TR DLY SC BEAR3XNEW 25459Y488 266 15,700 SH   SOLE   15,700 0 0
DOLBY LABORATORIES INC COM 25659T107 4,331 112,320 SH   SOLE   112,320 0 0
DYNAMIC MATLS CORP COM 267888105 3,684 169,455 SH   SOLE   169,455 0 0
E M C CORP MASS COM 268648102 2,059 81,850 SH   SOLE   81,850 0 0
EMERSON ELEC CO COM 291011104 16,418 233,935 SH   SOLE   233,935 0 0
ENCORE WIRE CORP COM 292562105 11,939 220,285 SH   SOLE   220,285 0 0
ERA GROUP INC COM 26885G109 3,829 124,085 SH   SOLE   124,085 0 0
ESSEX RENT CORP COM 297187106 867 264,996 SH   SOLE   264,996 0 0
EXELON CORP COM 30161N101 800 29,210 SH   SOLE   29,210 0 0
EXTREME NETWORKS INC COM 30226D106 104 14,900 SH   SOLE   14,900 0 0
EXXON MOBIL CORP COM 30231G102 16,204 160,117 SH   SOLE   160,117 0 0
FIDELITY NATIONAL FINANCIAL CL A 31620R105 24,784 763,760 SH   SOLE   763,760 0 0
GAIN CAP HLDGS INC COM 36268W100 174 23,200 SH   SOLE   23,200 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 52 16,390 SH   SOLE   16,390 0 0
GRANITE CONSTR INC COM 387328107 21,110 603,483 SH   SOLE   603,483 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 9,700 1,054,385 SH   SOLE   1,054,385 0 0
HALLADOR ENERGY COMPANY COM 40609P105 528 65,494 SH   SOLE   65,494 0 0
HALLIBURTON CO COM 406216101 20,069 395,439 SH   SOLE   395,439 0 0
HARSCO CORP COM 415864107 28,110 1,002,858 SH   SOLE   1,002,858 0 0
HARVARD APPARATUS REGENER TE COM 41690A106 140 29,565 SH   SOLE   29,565 0 0
HARVARD BIOSCIENCE INC COM 416906105 1,047 222,795 SH   SOLE   222,795 0 0
HECLA MNG CO COM 422704106 253 82,130 SH   SOLE   82,130 0 0
HEIDRICK & STRUGGLES INTL IN COM 422819102 8,587 426,379 SH   SOLE   426,379 0 0
HELMERICH & PAYNE INC COM 423452101 17,535 208,556 SH   SOLE   208,556 0 0
HEWLETT PACKARD CO COM 428236103 245 8,770 SH   SOLE   8,770 0 0
HOUSTON WIRE & CABLE CO COM 44244K109 10,806 807,597 SH   SOLE   807,597 0 0
HUTCHINSON TECHNOLOGY INC COM 448407106 2,078 649,286 SH   SOLE   649,286 0 0
IAMGOLD CORP COM 450913108 8,169 2,453,015 SH   SOLE   2,453,015 0 0
INFUSYSTEM HLDGS INC COM 45685K102 49 22,894 SH   SOLE   22,894 0 0
INNOVATIVE SOLUTIONS & SUPPO COM 45769N105 1,039 142,556 SH   SOLE   142,556 0 0
INSTEEL INDUSTRIES INC COM 45774W108 24,724 1,087,713 SH   SOLE   1,087,713 0 0
INTEL CORP COM 458140100 33,004 1,271,593 SH   SOLE   1,271,593 0 0
INTELIQUENT INC COM 45825N107 152 13,300 SH   SOLE   13,300 0 0
INTERACTIVE BROKERS GROUP IN COM 45841N107 211 8,670 SH   SOLE   8,670 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,208 6,441 SH   SOLE   6,441 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 68,272 1,083,847 SH   SOLE   1,083,847 0 0
KEY ENERGY SVCS INC COM 492914106 19,755 2,500,615 SH   SOLE   2,500,615 0 0
KINROSS GOLD CORP COM NO PAR 496902404 8,410 1,920,105 SH   SOLE   1,920,105 0 0
KIRBY CORP COM 497266106 213 2,150 SH   SOLE   2,150 0 0
KRATON PERFORMANCE POLYMERS COM 50077C106 507 22,005 SH   SOLE   22,005 0 0
LAWSON PRODS INC COM 520776105 6,875 561,255 SH   SOLE   561,255 0 0
LAYNE CHRISTENSEN CO COM 521050104 55,656 3,258,531 SH   SOLE   3,258,531 0 0
LIFEVANTAGE CORP COM 53222K106 22 13,500 SH   SOLE   13,500 0 0
LYDALL INC DEL COM 550819106 20,670 1,173,118 SH   SOLE   1,173,118 0 0
MARKET VECTORS ETF TR JR GOLD MINERS E 57061R544 1,428 45,993 SH   SOLE   45,993 0 0
MASONITE INTL CORP NEW COM 575385109 480 8,000 SH   SOLE   8,000 0 0
MATTSON TECHNOLOGY INC COM 577223100 41 15,000 SH   SOLE   15,000 0 0
MAXWELL TECHNOLOGIES INC COM 577767106 21,665 2,788,279 SH   SOLE   2,788,279 0 0
MEDTRONIC INC COM 585055106 9,643 168,022 SH   SOLE   168,022 0 0
MICROSOFT CORP COM 594918104 31,480 841,492 SH   SOLE   841,492 0 0
MOLYCORP INC DEL COM 608753109 401 71,335 SH   SOLE   71,335 0 0
MOSYS INC COM 619718109 113 20,400 SH   SOLE   20,400 0 0
NEWMONT MINING CORP COM 651639106 48,926 2,124,431 SH   SOLE   2,124,431 0 0
NEWPORT CORP COM 651824104 16,246 899,043 SH   SOLE   899,043 0 0
OCWEN FINL CORP COM NEW 675746309 21,597 389,485 SH   SOLE   389,485 0 0
OLD NATL BANCORP IND COM 680033107 393 25,545 SH   SOLE   25,545 0 0
OMEGA FLEX INC COM 682095104 449 21,963 SH   SOLE   21,963 0 0
ORION MARINE GROUP INC COM 68628V308 30,404 2,527,355 SH   SOLE   2,527,355 0 0
PICO HLDGS INC COM NEW 693366205 9,193 397,807 SH   SOLE   397,807 0 0
PMFG INC COM 69345P103 149 16,438 SH   SOLE   16,438 0 0
POSCO SPONSORED ADR 693483109 16,346 209,570 SH   SOLE   209,570 0 0
POTASH CORP SASK INC COM 73755L107 18,098 549,080 SH   SOLE   549,080 0 0
POWELL INDS INC COM 739128106 27,295 407,455 SH   SOLE   407,455 0 0
PROSHARES TR PSHS ULPRRUS NEW 74348A640 123 11,400 SH   SOLE   11,400 0 0
QUALCOMM INC COM 747525103 201 2,710 SH   SOLE   2,710 0 0
READING INTERNATIONAL INC CL A 755408101 559 74,665 SH   SOLE   74,665 0 0
RUBICON TECHNOLOGY INC COM 78112T107 1,103 110,840 SH   SOLE   110,840 0 0
RUDOLPH TECHNOLOGIES INC COM 781270103 4,025 342,871 SH   SOLE   342,871 0 0
SEABRIDGE GOLD INC COM 811916105 1,120 153,395 SH   SOLE   153,395 0 0
SERVOTRONICS INC COM 817732100 426 52,572 SH   SOLE   52,572 0 0
STAPLES INC COM 855030102 467 29,415 SH   SOLE   29,415 0 0
STEELCASE INC CL A 858155203 13,112 826,706 SH   SOLE   826,706 0 0
SUPERIOR INDS INTL INC COM 868168105 479 23,195 SH   SOLE   23,195 0 0
SYNALLOY CP DEL COM 871565107 10,385 676,129 SH   SOLE   676,129 0 0
SCHWAB CHARLES CORP NEW COM 808513105 602 23,140 SH   SOLE   23,140 0 0
STARRETT L S CO CL A 855668109 862 59,141 SH   SOLE   59,141 0 0
MOSAIC CO NEW COM 61945C103 227 4,801 SH   SOLE   4,801 0 0
TIDEWATER INC COM 886423102 31,244 527,153 SH   SOLE   527,153 0 0
TOLL BROTHERS INC COM 889478103 6,966 188,275 SH   SOLE   188,275 0 0
TOTAL S A SPONSORED ADR 89151E109 18,376 299,918 SH   SOLE   299,918 0 0
TRANSCAT INC COM 893529107 187 23,450 SH   SOLE   23,450 0 0
TRUETT-HURST INC CL A 897871109 50 12,000 SH   SOLE   12,000 0 0
US BANCORP DEL COM NEW 902973304 224 5,550 SH   SOLE   5,550 0 0
UCP INC CL A 90265Y106 9,829 671,410 SH   SOLE   671,410 0 0
UNIT CORP COM 909218109 5,853 113,395 SH   SOLE   113,395 0 0
VISHAY PRECISION GROUP INC COM 92835K103 24,100 1,618,569 SH   SOLE   1,618,569 0 0
WALTER INVT MGMT CORP COM 93317W102 33,378 943,951 SH   SOLE   943,951 0 0
WELLS FARGO & CO NEW COM 949746101 49,270 1,085,249 SH   SOLE   1,085,249 0 0
YAMANA GOLD INC COM 98462Y100 381 44,240 SH   SOLE   44,240 0 0