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 T & T COM 00206R102 535 15,125 SH   SOLE   15,125 0 0
A.T. Cross CL A 227478104 4,416 260,559 SH   SOLE   260,559 0 0
Abbott Laboratories COM 002824100 349 10,000 SH   SOLE   10,000 0 0
Abbvie Inc. COM 00287Y109 396 9,575 SH   SOLE   9,575 0 0
Aceto Corporation COM 004446100 7,282 522,775 SH   SOLE   522,775 0 0
Acorn Energy Inc COM 004848107 506 60,000 SH   SOLE   60,000 0 0
Addus Homecare Corporation COM 006739106 6,978 353,500 SH   SOLE   353,500 0 0
ADDvantage Technologies Group COM NEW 006743306 663 290,575 SH   SOLE   290,575 0 0
AeroCentury Corp. COM 007737109 643 33,000 SH   SOLE   33,000 0 0
Allied Healthcare Products COM 019222108 1,478 537,300 SH   SOLE   537,300 0 0
Allied Motion Technologies COM 019330109 665 99,175 SH   SOLE   99,175 0 0
American Software, Inc. CL A 029683109 4,473 514,750 SH   SOLE   514,750 0 0
Ameriprise Financial, Inc COM 03076C106 383 4,735 SH   SOLE   4,735 0 0
Amgen COM 031162100 702 7,117 SH   SOLE   7,117 0 0
Anika Therapeutics, Inc. COM 035255108 4,717 277,500 SH   SOLE   277,500 0 0
ARI Network Services Inc COM 001930205 673 238,489 SH   SOLE   238,489 0 0
Atlas Financial Holdings, Inc SHS NEW G06207115 4,641 518,500 SH   SOLE   518,500 0 0
AXT Inc COM 00246W103 2,200 814,879 SH   SOLE   814,879 0 0
B of I Holding Inc. COM 05566U108 4,589 100,150 SH   SOLE   100,150 0 0
Ballantyne of Omaha Inc COM 058516105 426 101,000 SH   SOLE   101,000 0 0
Bank of Commerce Holdings COM 06424J103 454 90,000 SH   SOLE   90,000 0 0
Barrett Business Services, Inc COM 068463108 7,033 134,700 SH   SOLE   134,700 0 0
Bed Bath & Beyond Inc. COM 075896100 476 6,715 SH   SOLE   6,715 0 0
BioScrip Inc COM 09069N108 5,747 348,300 SH   SOLE   348,300 0 0
Birner Dental Management COM NEW 091283200 699 39,100 SH   SOLE   39,100 0 0
Body Central Corp. COM 09689U102 3,656 274,450 SH   SOLE   274,450 0 0
Cal Dive International Inc. COM 12802T101 3,677 1,955,700 SH   SOLE   1,955,700 0 0
Cal-Maine Foods Inc COM NEW 128030202 2,332 50,150 SH   SOLE   50,150 0 0
Century Casinos, Inc. COM 156492100 4,701 1,358,649 SH   SOLE   1,358,649 0 0
Chevron Corp New COM 166764100 235 1,990 SH   SOLE   1,990 0 0
China Gerui Advanced Materials COM G21101103 1,450 810,000 SH   SOLE   810,000 0 0
Cisco Systems, Inc. COM 17275R102 479 19,670 SH   SOLE   19,670 0 0
Clicksoftware Technologies LTD ORD M25082104 1,254 150,350 SH   SOLE   150,350 0 0
Colgate-Palmolive COM 194162103 476 8,300 SH   SOLE   8,300 0 0
Columbia Labs COM 197779101 163 251,600 SH   SOLE   251,600 0 0
Comfort Systems USA, Inc. COM 199908104 3,951 264,800 SH   SOLE   264,800 0 0
Computer Task Group COM 205477102 804 35,000 SH   SOLE   35,000 0 0
ConAgra Foods, Inc. COM 205887102 487 13,950 SH   SOLE   13,950 0 0
Concurrent Computer Corp COM PAR $.01 206710402 574 75,000 SH   SOLE   75,000 0 0
Core Molding Technologies, Inc COM 218683100 662 74,175 SH   SOLE   74,175 0 0
Courier Corporation COM 222660102 2,856 200,000 SH   SOLE   200,000 0 0
Covenant Transportation Group, CL A 22284P105 1,560 250,000 SH   SOLE   250,000 0 0
CPI Aerostructures, Inc. COM NEW 125919308 3,780 348,400 SH   SOLE   348,400 0 0
CR Bard Inc. COM 067383109 479 4,405 SH   SOLE   4,405 0 0
CSX Corporation COM 126408103 600 25,856 SH   SOLE   25,856 0 0
CTI Industries Corporation COM NEW 125961300 721 143,700 SH   SOLE   143,700 0 0
CyberOptics Corporation COM 232517102 2,672 459,869 SH   SOLE   459,869 0 0
Datalink Corp. COM 237934104 5,258 494,200 SH   SOLE   494,200 0 0
Delta Apparel Inc. COM 247368103 1,694 120,113 SH   SOLE   120,113 0 0
Digital Ally, Inc. COM 25382P109 467 62,428 SH   SOLE   62,428 0 0
Dot Hill Systems Inc. COM 25848T109 602 275,000 SH   SOLE   275,000 0 0
Douglas Dynamics, Inc. COM 25960R105 1,428 110,000 SH   SOLE   110,000 0 0
Ducommun, Inc COM 264147109 3,335 156,850 SH   SOLE   156,850 0 0
eBay Inc COM 278642103 769 14,875 SH   SOLE   14,875 0 0
Edgewater Technology COM 280358102 323 75,825 SH   SOLE   75,825 0 0
Emerson Electric COM NEW 291011104 232 4,250 SH   SOLE   4,250 0 0
Emerson Radio Corp. COM 291087203 524 314,000 SH   SOLE   314,000 0 0
Ensign Group COM 29358P101 4,434 125,900 SH   SOLE   125,900 0 0
Enterprise Products Partners COM 293792107 447 7,200 SH   SOLE   7,200 0 0
Euroseas, Ltd. COM NEW Y23592200 312 300,000 SH   SOLE   300,000 0 0
Evolving Systems, Inc. COM 30049R209 894 134,900 SH   SOLE   134,900 0 0
Exactech COM 30064E109 3,303 167,225 SH   SOLE   167,225 0 0
Exxon Mobil Corporation COM 30231G102 905 10,019 SH   SOLE   10,019 0 0
Federal Signal Corp COM 313855108 4,375 500,000 SH   SOLE   500,000 0 0
Fedex Corporation COM 31428X106 491 4,985 SH   SOLE   4,985 0 0
Five Star Quality Care Inc. COM 33832D106 2,524 450,000 SH   SOLE   450,000 0 0
Flexible Solutions Internation COM 33938T104 179 226,795 SH   SOLE   226,795 0 0
Flexsteel Industries, Inc. COM 339382103 4,725 193,800 SH   SOLE   193,800 0 0
Fluor Corporation COM 343412102 432 7,290 SH   SOLE   7,290 0 0
Foster L. B. COM 350060109 3,332 77,190 SH   SOLE   77,190 0 0
Friedman Industries COM 358435105 363 36,867 SH   SOLE   36,867 0 0
Frozen Food Express Industries COM 359360104 483 300,000 SH   SOLE   300,000 0 0
Full House Resorts Inc. COM 359678109 2,539 940,399 SH   SOLE   940,399 0 0
Furmanite Corp COM 361086101 3,094 462,500 SH   SOLE   462,500 0 0
G P Strategies Corp COM 36225V104 5,250 220,400 SH   SOLE   220,400 0 0
G Willi-Food International ORD M52523103 816 119,000 SH   SOLE   119,000 0 0
General Electric COM 369604103 481 20,739 SH   SOLE   20,739 0 0
General Finance Corp. COM 369822101 558 120,000 SH   SOLE   120,000 0 0
General Mills, Inc. COM 370334104 436 8,975 SH   SOLE   8,975 0 0
Gilat Satellite Networks Ltd. SHS NEW M51474118 3,556 640,800 SH   SOLE   640,800 0 0
Global Cash Access Holdings COM 378967103 4,959 792,175 SH   SOLE   792,175 0 0
Global Power Equipment Group COM PAR $0.01 37941P306 2,096 130,000 SH   SOLE   130,000 0 0
Globecomm Systems Inc. COM 37956X103 4,000 316,450 SH   SOLE   316,450 0 0
Hallador Energy Company COM 40609P105 3,030 376,410 SH   SOLE   376,410 0 0
Hastings Entertainment COM 418365102 412 100,000 SH   SOLE   100,000 0 0
HCI Group COM 40416E103 614 20,000 SH   SOLE   20,000 0 0
Hill International, Inc COM 431466101 3,777 1,378,450 SH   SOLE   1,378,450 0 0
Home Depot Inc. COM 437076102 395 5,100 SH   SOLE   5,100 0 0
Hooper Holmes Inc COM 439104100 307 853,500 SH   SOLE   853,500 0 0
Hopfedd Bankcorp, Inc. COM 439734104 864 80,000 SH   SOLE   80,000 0 0
Hornbeck Offshore Services COM 440543106 4,012 75,000 SH   SOLE   75,000 0 0
Hudson Technologies Inc COM 444144109 3,615 1,133,316 SH   SOLE   1,133,316 0 0
Illinois Tool Works, Inc. COM 452308109 440 6,365 SH   SOLE   6,365 0 0
Innodata Isogen Inc COM NEW 457642205 3,770 1,178,067 SH   SOLE   1,178,067 0 0
Insteel Industries Inc COM 45774W108 3,154 180,000 SH   SOLE   180,000 0 0
Integrated Silicon Solutions COM 45812P107 4,710 429,700 SH   SOLE   429,700 0 0
Intel Corp. COM 458140100 354 14,600 SH   SOLE   14,600 0 0
International Business Machine COM 459200101 887 4,640 SH   SOLE   4,640 0 0
International Paper Co COM 460146103 251 5,675 SH   SOLE   5,675 0 0
Intersections, Inc. COM 460981301 2,826 322,250 SH   SOLE   322,250 0 0
InTest Corp. COM 461147100 711 187,700 SH   SOLE   187,700 0 0
Intuit Inc COM 461202103 206 3,375 SH   SOLE   3,375 0 0
IPass Inc. COM 46261V108 4,094 2,166,000 SH   SOLE   2,166,000 0 0
Iteris Inc COM 46564T107 670 374,300 SH   SOLE   374,300 0 0
J P Morgan Chase & Co COM 46625H100 459 8,688 SH   SOLE   8,688 0 0
Johnson & Johnson COM 478160104 524 6,100 SH   SOLE   6,100 0 0
JTH Holding Inc. CL A 46637N103 431 26,500 SH   SOLE   26,500 0 0
K M G Chemicals Inc COM 482564101 4,367 206,985 SH   SOLE   206,985 0 0
Kimberly-Clark Corporation COM 494368103 393 4,050 SH   SOLE   4,050 0 0
Kirkland's COM 497498105 3,530 204,630 SH   SOLE   204,630 0 0
Kratos Defense & Sec Solutions COM NEW 50077B207 584 90,175 SH   SOLE   90,175 0 0
L M I Aerospace, Inc. COM 502079106 2,436 130,000 SH   SOLE   130,000 0 0
Lakeland Industries COM 511795106 389 82,400 SH   SOLE   82,400 0 0
Landec Corporation COM 514766104 5,489 415,550 SH   SOLE   415,550 0 0
LGL Group COM 50186A108 274 42,000 SH   SOLE   42,000 0 0
Macys COM 55616P104 603 12,565 SH   SOLE   12,565 0 0
Magnetek Inc COM 559424403 691 38,324 SH   SOLE   38,324 0 0
Management Network Group, Inc. COM 561693201 599 197,100 SH   SOLE   197,100 0 0
Manitex COM 563420108 4,380 400,000 SH   SOLE   400,000 0 0
Matrix Service Co. COM 576853105 4,919 315,700 SH   SOLE   315,700 0 0
MCG Diagnostics COM 552768103 445 53,250 SH   SOLE   53,250 0 0
McKesson Corp. COM 58155Q103 556 4,855 SH   SOLE   4,855 0 0
Medical Action Industries Inc. COM 58449L100 4,104 532,940 SH   SOLE   532,940 0 0
Medtronic Inc. COM 585055106 286 5,556 SH   SOLE   5,556 0 0
MFRI, Inc. COM 552721102 5,091 447,720 SH   SOLE   447,720 0 0
Michael Baker Corporation COM 057149106 3,785 139,610 SH   SOLE   139,610 0 0
Microfinancial Inc. COM 595072109 786 100,150 SH   SOLE   100,150 0 0
Miller Industries COM NEW 600551204 2,450 159,300 SH   SOLE   159,300 0 0
Mitcham Industries, Inc. COM 606501104 3,272 195,001 SH   SOLE   195,001 0 0
Monarch Casino & Resort, Inc. COM 609027107 2,258 133,951 SH   SOLE   133,951 0 0
Monmouth Real Estate Inv COM 609720107 2,722 275,744 SH   SOLE   275,744 0 0
Motorcar Parts of America, Inc COM 620071100 4,708 513,406 SH   SOLE   513,406 0 0
Napco Security Systems Inc COM 630402105 1,383 289,350 SH   SOLE   289,350 0 0
Navarre Corporation COM 639208107 552 200,000 SH   SOLE   200,000 0 0
Newpark Resources Inc. COM PAR $.01 NEW 651718504 5,308 482,950 SH   SOLE   482,950 0 0
Newtek Business Services Inc COM 652526104 962 456,109 SH   SOLE   456,109 0 0
Nicholas Financial, Inc. COM NEW 65373J209 3,704 245,000 SH   SOLE   245,000 0 0
Northern Technologies Intl COM 665809109 2,575 229,900 SH   SOLE   229,900 0 0
Northwest Pipe Company COM 667746101 2,190 78,500 SH   SOLE   78,500 0 0
Nucor Corporation COM 670346105 344 7,940 SH   SOLE   7,940 0 0
Official Payment Holdings COM 67623R106 6,105 891,175 SH   SOLE   891,175 0 0
Omnova Solutions, Inc. COM 682129101 3,228 403,023 SH   SOLE   403,023 0 0
On Track Innovations Ltd. SHS M8791A109 612 419,100 SH   SOLE   419,100 0 0
Oplink Communications Inc COM NEW 68375Q403 4,514 259,850 SH   SOLE   259,850 0 0
Oppenheimer Holdings CL A NON VTG 683797104 1,747 91,743 SH   SOLE   91,743 0 0
Oracle Corporation COM 68389X105 417 13,575 SH   SOLE   13,575 0 0
Orbit International Corp COM NEW 685559304 295 87,000 SH   SOLE   87,000 0 0
Orchids Paper Products COM 68572N104 6,711 255,673 SH   SOLE   255,673 0 0
P H I, Inc. COM NON VOTING 69336T205 5,464 159,292 SH   SOLE   159,292 0 0
Pacific Premier Bank Corp COM 69478X105 1,177 96,300 SH   SOLE   96,300 0 0
PCM, Inc. COM 69323K100 4,846 504,780 SH   SOLE   504,780 0 0
PCTEL Inc COM 69325Q105 4,523 533,350 SH   SOLE   533,350 0 0
Penford Corporation COM 707051108 5,174 386,430 SH   SOLE   386,430 0 0
Pepsico COM 713448108 650 7,952 SH   SOLE   7,952 0 0
Perma-Fix Environmental Servic COM 714157104 997 2,769,250 SH   SOLE   2,769,250 0 0
Pfizer COM 717081103 549 19,605 SH   SOLE   19,605 0 0
Photronics, Inc. COM 719405102 5,043 625,625 SH   SOLE   625,625 0 0
PRGX Global, Inc. COM 69357C503 3,506 638,600 SH   SOLE   638,600 0 0
Primo Water Corporation COM 74165N105 814 447,432 SH   SOLE   447,432 0 0
Proctor & Gamble Co. COM 742718109 530 6,878 SH   SOLE   6,878 0 0
Prudential Financial, Inc. COM 744320102 461 6,315 SH   SOLE   6,315 0 0
RCM Technologies COM NEW 749360400 3,331 613,425 SH   SOLE   613,425 0 0
Reading International CL A 755408101 796 125,200 SH   SOLE   125,200 0 0
Rentrak Corporation COM 760174102 3,275 163,200 SH   SOLE   163,200 0 0
Rimage Corp. COM 766721104 1,455 174,700 SH   SOLE   174,700 0 0
Rudolph Technologies Inc COM 781270103 4,074 363,750 SH   SOLE   363,750 0 0
Rush Enterprises, Inc. CL B 781846308 2,128 98,900 SH   SOLE   98,900 0 0
SPDR S & P 500 ETF TR TR UNIT 78462F103 4,009 24,993 SH   SOLE   24,993 0 0
Saexploration Holdings Inc. COM 78636X105 2,030 200,000 SH   SOLE   200,000 0 0
Sanfilippo John B & Son Inc COM 800422107 6,447 319,800 SH   SOLE   319,800 0 0
Schlumberger LTD COM 806857108 431 6,015 SH   SOLE   6,015 0 0
Scorpio Tankers SHS Y7542C106 3,772 420,000 SH   SOLE   420,000 0 0
SeaChange International Inc COM 811699107 2,960 252,750 SH   SOLE   252,750 0 0
Smartpros COM 83171G103 370 211,500 SH   SOLE   211,500 0 0
Socket Mobile Inc COM NEW 83368E200 236 135,000 SH   SOLE   135,000 0 0
SORL Auto Parts Inc COM 78461U101 1,930 733,881 SH   SOLE   733,881 0 0
Southwest Airlines Co COM 844741108 312 24,196 SH   SOLE   24,196 0 0
Sparton Corporation COM 847235108 3,788 219,750 SH   SOLE   219,750 0 0
StealthGas Inc SHS Y81669106 3,947 358,850 SH   SOLE   358,850 0 0
Steinway Musical Instruments COM 858495104 3,174 104,314 SH   SOLE   104,314 0 0
Sterling Construction Co Inc COM 859241101 2,812 310,400 SH   SOLE   310,400 0 0
Stoneridge COM 86183P102 1,164 100,000 SH   SOLE   100,000 0 0
Stryker Corp COM 863667101 514 7,942 SH   SOLE   7,942 0 0
SWS Group, inc. COM 78503N107 1,764 323,588 SH   SOLE   323,588 0 0
Synergy Resources Corp COM 87164P103 1,706 233,000 SH   SOLE   233,000 0 0
Syneron Medical ORD SHS M87245102 2,888 332,000 SH   SOLE   332,000 0 0
Systemax Inc. COM 871851101 2,625 278,936 SH   SOLE   278,936 0 0
T. Rowe Price Group, Inc. COM 74144T108 523 7,150 SH   SOLE   7,150 0 0
Target Corporation COM 87612E106 323 4,690 SH   SOLE   4,690 0 0
TechPrecision Corp COM 878739101 559 765,650 SH   SOLE   765,650 0 0
Texas Instruments Inc COM 882508104 400 11,475 SH   SOLE   11,475 0 0
TGC Industries, Inc. COM 872417308 3,236 393,656 SH   SOLE   393,656 0 0
3 M Company COM 88579Y101 671 6,140 SH   SOLE   6,140 0 0
TOR Minerals International COM 890878101 384 34,900 SH   SOLE   34,900 0 0
Triangle Petroleum Corp COM NEW 89600B201 1,817 259,174 SH   SOLE   259,174 0 0
Trinity Biotech ADR NEW 896438306 842 50,000 SH   SOLE   50,000 0 0
U. S. Global Investors, Inc. CL A 902952100 1,183 560,550 SH   SOLE   560,550 0 0
Ultra Clean Holdings, Inc. COM 90385V107 3,297 545,000 SH   SOLE   545,000 0 0
United Insurance Holdings Corp COM 910710102 2,146 306,973 SH   SOLE   306,973 0 0
Universal Electronics, Inc. COM 913483103 4,366 155,200 SH   SOLE   155,200 0 0
Universal Power Corp COM 913788105 374 252,500 SH   SOLE   252,500 0 0
Uranium Energy Corp COM 916896103 1,169 653,100 SH   SOLE   653,100 0 0
Urologix, Inc. COM 917273104 84 500,000 SH   SOLE   500,000 0 0
USA Truck, Inc. COM 902925106 2,737 424,970 SH   SOLE   424,970 0 0
Vaalco Energy, Inc COM NEW 91851C201 3,056 534,300 SH   SOLE   534,300 0 0
Vasco Data Sec Intl COM 92230Y104 2,999 360,900 SH   SOLE   360,900 0 0
Versar COM 925297103 1,096 241,400 SH   SOLE   241,400 0 0
Virginia Heritage Bank COM 927819102 381 25,000 SH   SOLE   25,000 0 0
Virtusa Corporation COM 92827P102 2,236 100,900 SH   SOLE   100,900 0 0
Vista Gold Corp. New COM NEW 927926303 797 822,000 SH   SOLE   822,000 0 0
Vitran Corporation Inc. COM 92850E107 2,807 429,265 SH   SOLE   429,265 0 0
Wal Mart COM 931142103 419 5,625 SH   SOLE   5,625 0 0
Walgreen Company COM 931422109 243 5,507 SH   SOLE   5,507 0 0
Wells-Gardner Electronics Corp COM 949765101 500 276,000 SH   SOLE   276,000 0 0
Weyco Group Inc COM 962149100 250 9,931 SH   SOLE   9,931 0 0
Widepoint Corporation COM 967590100 820 1,000,000 SH   SOLE   1,000,000 0 0
Willamette Valley Vineyards COM 969136100 655 146,500 SH   SOLE   146,500 0 0
Yum Brands, Inc. COM 988498101 700 10,100 SH   SOLE   10,100 0 0