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
A H BELO CORP COM CL A 001282102 4,650 943,200 SH   SOLE   943,200 0 0
ACCENTURE PLC IRELAND SHS CLASS A g1151c101 3,227 32,845 SH   SOLE   32,845 0 0
AGILYSYS INC COM 00847J105 1,768 159,000 SH   SOLE   159,000 0 0
ALAMO GROUP INC COM 011311107 5,285 113,050 SH   SOLE   113,050 0 0
ALCENTRA CAP CORP COM 01374t102 2,948 254,345 SH   SOLE   254,345 0 0
ALPINE TOTAL DYNAMIC DIVID F COM SH BEN INT N 021060207 1,992 265,562 SH   SOLE   265,562 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153w100 2,991 214,885 SH   SOLE   214,885 0 0
AMERCO COM 023586100 8,923 22,677 SH   SOLE   22,677 0 0
AMERIPRISE FINL INC COM 03076c106 3,703 33,936 SH   SOLE   33,936 0 0
ARBOR RLTY TR INC COM 038923108 7,606 1,195,852 SH   SOLE   1,195,852 0 0
ARC DOCUMENT SOLUTIONS INC COM 00191g103 5,419 910,722 SH   SOLE   910,722 0 0
ASCENT CAP GROUP INC COM SER A 043632108 722 26,357 SH   SOLE   26,357 0 0
AWARE INC MASS COM 05453N100 2,213 660,600 SH   SOLE   660,600 0 0
BLACKROCK CAPITAL INVESTMENT COM 092533108 6,348 716,452 SH   SOLE   716,452 0 0
BLACKROCK MUN TARGET TERM TR COM SHS BEN IN 09257p105 3,065 150,374 SH   SOLE   150,374 0 0
BLACKROCK RES & COMM STRAT T SHS 09257a108 5,524 777,964 SH   SOLE   777,964 0 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257r101 5,501 387,142 SH   SOLE   387,142 0 0
BLACKSTONE MTG TR INC COM CL A 09257w100 5,270 192,056 SH   SOLE   192,056 0 0
BLACKSTONE GSO FLTING RTE FU COM 09256u105 6,182 389,794 SH   SOLE   389,794 0 0
BLOCK H & R INC COM 093671105 3,357 92,732 SH   SOLE   92,732 0 0
BOEING CO COM 097023105 3,726 28,456 SH   SOLE   28,456 0 0
BSB BANCORP INC MD COM 05573h108 3,052 144,389 SH   SOLE   144,389 0 0
CALAVO GROWERS INC COM 128246105 2,785 62,384 SH   SOLE   62,384 0 0
CALLAWAY GOLF CO COM 131193104 9,956 1,192,362 SH   SOLE   1,192,362 0 0
CARMIKE CINEMAS INC COM 143436400 7,207 358,759 SH   SOLE   358,759 0 0
CASCADE MICROTECH INC COM 147322101 4,540 321,051 SH   SOLE   321,051 0 0
CECO ENVIRONMENTAL CORP COM 125141101 4,033 492,441 SH   SOLE   492,441 0 0
CENTURYLINK INC COM 156700106 2,182 86,875 SH   SOLE   86,875 0 0
CHEROKEE INC DEL NEW COM 16444h102 4,440 286,105 SH   SOLE   286,105 0 0
CHIMERA INVT CORP COM NEW 16934q208 4,750 355,272 SH   SOLE   355,272 0 0
CIFC CORP COM 12547r105 940 131,402 SH   SOLE   131,402 0 0
CINTAS CORP COM 172908105 3,237 37,746 SH   SOLE   37,746 0 0
CLOUGH GLOBAL EQUITY FD COM 18914c100 4,516 356,700 SH   SOLE   356,700 0 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914e106 4,980 465,395 SH   SOLE   465,395 0 0
COCA COLA CO COM 191216100 2,247 56,000 SH   SOLE   56,000 0 0
COGENTIX MED INC COM 19243a104 308 248,752 SH   SOLE   248,752 0 0
COHEN & STEERS INFRASTRUCTUR COM 19248a109 3,593 188,426 SH   SOLE   188,426 0 0
CORENERGY INFRASTRUCTURE TR COM 21870u205 9,668 2,187,232 SH   SOLE   2,187,232 0 0
CULP INC COM 230215105 1,980 61,725 SH   SOLE   61,725 0 0
CVS HEALTH CORP COM 126650100 4,748 49,209 SH   SOLE   49,209 0 0
DST SYS INC DEL COM 233326107 2,940 27,965 SH   SOLE   27,965 0 0
DEERE & CO COM 244199105 2,212 29,892 SH   SOLE   29,892 0 0
DEMAND MEDIA INC COM NEW 24802N208 1,466 351,600 SH   SOLE   351,600 0 0
DESTINATION XL GROUP INC COM 25065k104 10,031 1,726,441 SH   SOLE   1,726,441 0 0
DHI GROUP INC COM 23331s100 3,541 484,447 SH   SOLE   484,447 0 0
DIGI INTL INC COM 253798102 8,202 695,654 SH   SOLE   695,654 0 0
DIGIRAD CORP COM 253827109 4,491 1,200,788 SH   SOLE   1,200,788 0 0
DLH HLDGS CORP COM 23335Q100 267 94,074 SH   SOLE   94,074 0 0
DOUGLAS DYNAMICS INC COM 25960r105 9,220 464,269 SH   SOLE   464,269 0 0
EATON VANCE ENHANCED EQ INC COM 278274105 3,455 290,570 SH   SOLE   290,570 0 0
EATON VANCE TAX ADVT DIV INC COM 27828g107 6,872 373,861 SH   SOLE   373,861 0 0
ECOLAB INC COM 278865100 713 6,500 SH   SOLE   6,500 0 0
ENSTAR GROUP LIMITED SHS g3075p101 4,935 32,897 SH   SOLE   32,897 0 0
ENTEGRA FINL CORP COM 29363j108 3,026 174,500 SH   SOLE   174,500 0 0
EXXON MOBIL CORP COM 30231g102 3,228 43,421 SH   SOLE   43,421 0 0
FARMERS NATL BANC CORP COM 309627107 1,291 157,000 SH   SOLE   157,000 0 0
FIBROGEN INC COM 31572q808 875 39,924 SH   SOLE   39,924 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 1,471 236,915 SH   SOLE   236,915 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 8,555 363,749 SH   SOLE   363,749 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022k102 1,149 95,033 SH   SOLE   95,033 0 0
FIRST NORTHWEST BANCORP COM 335834107 3,229 260,850 SH   SOLE   260,850 0 0
FIRST SEC GROUP INC COM NEW 336312202 1,403 563,500 SH   SOLE   563,500 0 0
FISERV INC COM 337738108 5,037 58,152 SH   SOLE   58,152 0 0
FIVE STAR QUALITY CARE INC COM 33832d106 2,993 968,583 SH   SOLE   968,583 0 0
FLEXSTEEL INDS INC COM 339382103 3,181 101,799 SH   SOLE   101,799 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 2,849 209,965 SH   SOLE   209,965 0 0
FRANKLIN COVEY CO COM 353469109 12,123 754,827 SH   SOLE   754,827 0 0
FST TR NEW OPPORT MLP & ENE COM 33739m100 2,314 186,347 SH   SOLE   186,347 0 0
GSI GROUP INC CDA NEW COM NEW 36191c205 3,646 286,403 SH   SOLE   286,403 0 0
GENTHERM INC COM 37253a103 5,916 131,709 SH   SOLE   131,709 0 0
GREEN BRICK PARTNERS INC COM 392709101 1,852 171,000 SH   SOLE   171,000 0 0
HACKETT GROUP INC COM 404609109 7,883 573,316 SH   SOLE   573,316 0 0
HALLMARK FINL SVCS INC EC COM NEW 40624q203 1,652 143,819 SH   SOLE   143,819 0 0
HARVARD BIOSCIENCE INC COM 416906105 1,363 360,651 SH   SOLE   360,651 0 0
HARVEST CAP CR CORP COM 41753f109 2,692 226,000 SH   SOLE   226,000 0 0
HOOKER FURNITURE CORP COM 439038100 1,678 71,290 SH   SOLE   71,290 0 0
HORACE MANN EDUCATORS CORP N COM 440327104 8,565 257,835 SH   SOLE   257,835 0 0
HORMEL FOODS CORP COM 440452100 4,167 65,823 SH   SOLE   65,823 0 0
HUTCHINSON TECHNOLOGY INC COM 448407106 20 12,500 SH   SOLE   12,500 0 0
INCONTACT INC COM 45336e109 2,081 277,080 SH   SOLE   277,080 0 0
INFORMATION SERVICES GROUP I COM 45675y104 1,525 390,000 SH   SOLE   390,000 0 0
INTL FCSTONE INC COM 46116v105 9,176 371,646 SH   SOLE   371,646 0 0
INVENTURE FOODS INC COM 461212102 6,177 695,595 SH   SOLE   695,595 0 0
INVESTORS TITLE CO COM 461804106 1,037 14,498 SH   SOLE   14,498 0 0
J & J SNACK FOODS CORP COM 466032109 5,424 47,719 SH   SOLE   47,719 0 0
JOHNSON & JOHNSON COM 478160104 3,594 38,504 SH   SOLE   38,504 0 0
JPMORGAN CHASE & CO COM 46625h100 4,694 76,991 SH   SOLE   76,991 0 0
KIMBALL INTL INC CL B 494274103 2,469 261,000 SH   SOLE   261,000 0 0
KIRKLANDS INC COM 497498105 2,538 117,850 SH   SOLE   117,850 0 0
LANDAUER INC COM 51476k103 3,672 99,260 SH   SOLE   99,260 0 0
LAWSON PRODS INC COM 520776105 1,061 49,000 SH   SOLE   49,000 0 0
LENDINGTREE INC NEW COM 52603b107 2,817 30,284 SH   SOLE   30,284 0 0
LIFETIME BRANDS INC COM 53222Q103 1,117 79,875 SH   SOLE   79,875 0 0
LITHIA MTRS INC CL A 536797103 9,314 86,153 SH   SOLE   86,153 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608b105 3,280 43,927 SH   SOLE   43,927 0 0
MADDEN STEVEN LTD COM 556269108 4,836 132,066 SH   SOLE   132,066 0 0
MADISON CVRED CALL & EQ STR COM 557437100 6,694 945,545 SH   SOLE   945,545 0 0
MAGELLAN HEALTH INC COM NEW 559079207 4,310 77,754 SH   SOLE   77,754 0 0
MALIBU BOATS INC COM CL A 56117j100 7,737 553,425 SH   SOLE   553,425 0 0
MICROSOFT CORP COM 594918104 4,066 91,865 SH   SOLE   91,865 0 0
MOCON INC COM 607494101 2,956 218,950 SH   SOLE   218,950 0 0
MONOTYPE IMAGING HOLDINGS IN COM 61022p100 6,742 309,001 SH   SOLE   309,001 0 0
MVC CAPITAL INC COM 553829102 5,849 712,474 SH   SOLE   712,474 0 0
NATHANS FAMOUS INC NEW COM 632347100 1,205 31,700 SH   SOLE   31,700 0 0
NATURAL GAS SERVICES GROUP COM 63886q109 6,238 323,234 SH   SOLE   323,234 0 0
NAUTILUS INC COM 63910b102 11,981 798,751 SH   SOLE   798,751 0 0
NCR CORP NEW COM 62886e108 1,611 70,829 SH   SOLE   70,829 0 0
NEUBERGER BERMAN RE ES SEC F COM 64190a103 4,454 966,124 SH   SOLE   966,124 0 0
NEW SR INVT GROUP INC COM 648691103 2,797 267,370 SH   SOLE   267,370 0 0
NEWCASTLE INVT CORP NEW COM PAR $0.01 65105m603 7,749 1,765,062 SH   SOLE   1,765,062 0 0
NUVEEN BUILD AMER BD FD COM 67074c103 7,601 386,796 SH   SOLE   386,796 0 0
NUVEEN INTER DURATION MN TMF COM 670671106 3,352 270,325 SH   SOLE   270,325 0 0
NUVEEN MTG OPPORTUNITY TERM COM 670735109 6,450 287,930 SH   SOLE   287,930 0 0
NUVEEN PFD & INCOME TERM FD COM 67075a106 5,790 264,277 SH   SOLE   264,277 0 0
OHA INVT CORP COM 67091u102 911 215,334 SH   SOLE   215,334 0 0
OTTER TAIL CORP COM 689648103 2,157 82,788 SH   SOLE   82,788 0 0
PENNANTPARK FLOATING RATE CA COM 70806a106 6,218 520,792 SH   SOLE   520,792 0 0
PERCEPTRON INC COM 71361f100 1,685 222,000 SH   SOLE   222,000 0 0
PERFORMANCE SPORTS GROUP LTD COM 71377G100 2,483 185,000 SH   SOLE   185,000 0 0
PFSWEB INC COM NEW 717098206 1,792 126,000 SH   SOLE   126,000 0 0
PHOTRONICS INC COM 719405102 4,266 470,883 SH   SOLE   470,883 0 0
PRISM TECHNOLOGIES GROUP INC COM 74273y100 914 326,273 SH   SOLE   326,273 0 0
PROCTER & GAMBLE CO COM 742718109 3,381 46,998 SH   SOLE   46,998 0 0
PSYCHEMEDICS CORP COM NEW 744375205 1,945 193,500 SH   SOLE   193,500 0 0
PUTNAM PREMIER INCOME TR SH BEN INT 746853100 6,274 1,282,990 SH   SOLE   1,282,990 0 0
PZENA INVESTMENT MGMT INC CLASS A 74731q103 12,282 1,379,980 SH   SOLE   1,379,980 0 0
RED LION HOTELS CORP COM 756764106 1,785 210,000 SH   SOLE   210,000 0 0
REDWOOD TR INC COM 758075402 3,294 238,021 SH   SOLE   238,021 0 0
REPUBLIC SVCS INC COM 760759100 3,107 75,406 SH   SOLE   75,406 0 0
RIGNET INC COM 766582100 2,886 113,174 SH   SOLE   113,174 0 0
ROUSE PPTYS INC COM 779287101 4,739 304,188 SH   SOLE   304,188 0 0
ROYCE GLOBAL VALUE TR INC COM 78081t104 1,047 149,411 SH   SOLE   149,411 0 0
ROYCE MICRO-CAP TR INC COM 780915104 3,950 510,350 SH   SOLE   510,350 0 0
ROYCE VALUE TR INC COM 780910105 1,866 162,258 SH   SOLE   162,258 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 9,090 514,420 SH   SOLE   514,420 0 0
SHILOH INDS INC COM 824543102 2,159 266,500 SH   SOLE   266,500 0 0
SILVERCREST ASSET MGMT GROUP CL A 828359109 3,608 333,800 SH   SOLE   333,800 0 0
SIMULATIONS PLUS INC COM 829214105 5,253 556,485 SH   SOLE   556,485 0 0
SOLAR CAP LTD COM 83413u100 3,701 233,938 SH   SOLE   233,938 0 0
SP PLUS CORP COM 78469c103 5,208 224,983 SH   SOLE   224,983 0 0
SPOK HLDGS INC COM 84863t106 11,709 711,352 SH   SOLE   711,352 0 0
STONECASTLE FINL CORP COM 861780104 7,395 439,682 SH   SOLE   439,682 0 0
SUPERIOR UNIFORM GP INC COM 868358102 2,324 129,600 SH   SOLE   129,600 0 0
SUPREME INDS INC CL A 868607102 3,751 450,284 SH   SOLE   450,284 0 0
SYNERON MEDICAL LTD ORD SHS m87245102 3,455 483,211 SH   SOLE   483,211 0 0
SYNTEL INC COM 87162h103 3,852 85,018 SH   SOLE   85,018 0 0
TANDY LEATHER FACTORY INC COM 87538X105 1,419 196,210 SH   SOLE   196,210 0 0
TECHTARGET INC COM 87874r100 8,006 939,650 SH   SOLE   939,650 0 0
THESTREET INC COM 88368q103 3,031 1,814,850 SH   SOLE   1,814,850 0 0
TRANSCAT INC COM 893529107 1,189 122,000 SH   SOLE   122,000 0 0
TRUEBLUE INC COM 89785x101 7,144 317,934 SH   SOLE   317,934 0 0
U S PHYSICAL THERAPY INC COM 90337l108 5,410 120,519 SH   SOLE   120,519 0 0
UFP TECHNOLOGIES INC COM 902673102 3,679 161,000 SH   SOLE   161,000 0 0
UNITED FINL BANCORP INC NEW COM 910304104 7,297 559,194 SH   SOLE   559,194 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,970 22,132 SH   SOLE   22,132 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 361 3,597 SH   SOLE   3,597 0 0
VERIZON COMMUNICATIONS INC COM 92343v104 1,988 45,697 SH   SOLE   45,697 0 0
WASTE MGMT INC DEL COM 94106l109 3,634 72,955 SH   SOLE   72,955 0 0
WEST MARINE INC COM 954235107 2,468 281,100 SH   SOLE   281,100 0 0
WESTWOOD HLDGS GROUP INC COM 961765104 7,806 143,627 SH   SOLE   143,627 0 0
3M CO COM 88579y101 2,039 14,385 SH   SOLE   14,385 0 0
ANTHEM INC COM 036752103 3,680 26,284 SH   SOLE   26,284 0 0
GDL FUND COM SH BEN IT 361570104 5,331 543,977 SH   SOLE   543,977 0 0
RYDEX ETF TRUST GUG S&P500 PU VA 78355w304 9,057 189,517 SH   SOLE   189,517 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG SPINOFF ETF 18383m605 2,837 74,413 SH   SOLE   74,413 0 0
INVESCO LTD SHS g491bt108 3,241 103,766 SH   SOLE   103,766 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 218 2,560 SH   SOLE   2,560 0 0
ISHARES TR CORE S&P500 ETF 464287200 341 1,771 SH   SOLE   1,771 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 11,351 105,296 SH   SOLE   105,296 0 0
ISHARES TR S&P 500 VAL ETF 464287408 2,068 24,610 SH   SOLE   24,610 0 0
ITT CORP NEW COM NEW 450911201 1,355 40,539 SH   SOLE   40,539 0 0
LRAD CORP COM 50213v109 983 588,900 SH   SOLE   588,900 0 0
MESA LABS INC COM 59064r109 2,196 19,710 SH   SOLE   19,710 0 0
NOVARTIS A G SPONSORED ADR 66987v109 2,585 28,126 SH   SOLE   28,126 0 0
REIS INC COM 75936p105 5,697 251,515 SH   SOLE   251,515 0 0
SALEM MEDIA GROUP INC CL A 794093104 2,315 378,226 SH   SOLE   378,226 0 0
TARGET CORP COM 87612e106 4,179 53,130 SH   SOLE   53,130 0 0
U S G CORP COM NEW 903293405 2,591 97,351 SH   SOLE   97,351 0 0
EXA CORP COM 300614500 1,706 165,150 SH   SOLE   165,150 0 0
RENASANT CORP COM 75970E107 206 6,271 SH   SOLE   6,271 0 0
VANGUARD TOTAL BOND MRKT INDEX MUTUAL FUNDS 921937603 91 8,398 SH   SOLE   8,398 0 0