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
Caterpillar COM 149123101 1,657,463 15,424 SH   SOLE 0 15,424 0 0
Central Valley Community Bancorp COM 155685100 552,715 24,942 SH   SOLE 0 24,942 0 0
Chevron Corporation COM 166764100 2,150,244 20,610 SH   SOLE 0 20,610 0 0
Choiceone Financial COM 170386106 13,680 604 SH   SOLE 0 604 0 0
Citigroup COM 172967226 231,756 1,545,040 SH   SOLE 0 1,545,040 0 0
Citigroup COM 172967424 632,952 9,464 SH   SOLE 0 9,464 0 0
Citizens Financial Group COM 174610105 588,006 16,480 SH   SOLE 0 16,480 0 0
Citizens Community Bancorp COM 174903104 809,666 58,629 SH   SOLE 0 58,629 0 0
Civista Bancshares COM 178867107 1,438,235 68,881 SH   SOLE 0 68,881 0 0
Coca-Cola COM 191216100 748,591 16,691 SH   SOLE 0 16,691 0 0
Codorus Bancorp COM 192025104 1,100,101 38,736 SH   SOLE 0 38,736 0 0
Walt Disney COM 254687106 1,694,559 15,949 SH   SOLE 0 15,949 0 0
du Pont COM 263534109 1,299,996 16,107 SH   SOLE 0 16,107 0 0
El Pollo Loco COM 268603107 855,861 61,795 SH   SOLE 0 61,795 0 0
Enterprise Products Partners COM 293792107 3,022,345 111,608 SH   SOLE 0 111,608 0 0
EZCORP COM 302301106 38,231 4,965 SH   SOLE 0 4,965 0 0
F.N.B. Corporation COM 302520101 119,567 8,444 SH   SOLE 0 8,444 0 0
Federal Agricultural Mortgage COM 313148306 25,880 400 SH   SOLE 0 400 0 0
Freddie Mac PREF STK 313400640 643,622 148,300 SH   SOLE 0 148,300 0 0
Fannie Mae PREF STK 313586752 11,520 2,000 SH   SOLE 0 2,000 0 0
Fifth Third Bancorp COM 316773100 292,699 11,275 SH   SOLE 0 11,275 0 0
First Bancorp COM 318910106 357,288 11,430 SH   SOLE 0 11,430 0 0
First Bancshares COM 318916103 1,531,552 55,491 SH   SOLE 0 55,491 0 0
First Commonwealth Financial COM 319829107 285,782 22,538 SH   SOLE 0 22,538 0 0
First Community COM 319835104 1,291,290 61,490 SH   SOLE 0 61,490 0 0
Ford COM 345370860 55,068 4,921 SH   SOLE 0 4,921 0 0
FreightCar America COM 357023100 650,247 37,392 SH   SOLE 0 37,392 0 0
General Electric COM 369604103 896,138 33,178 SH   SOLE 0 33,178 0 0
Genesis Energy COM 371927104 3,072,067 96,819 SH   SOLE 0 96,819 0 0
Haverty Furniture COM 419596101 962,334 38,340 SH   SOLE 0 38,340 0 0
Hawaiian Holdings COM 419879101 146,954 3,130 SH   SOLE 0 3,130 0 0
Hawthorn Bancshares COM 420476103 402,219 19,199 SH   SOLE 0 19,199 0 0
Holly Energy Partners L.P COM 435763107 2,614,510 80,496 SH   SOLE 0 80,496 0 0
Home Depot COM 437076102 2,470,507 16,105 SH   SOLE 0 16,105 0 0
HopFed Bancorp COM 439734104 310,780 21,681 SH   SOLE 0 21,681 0 0
Independent Bank Corp COM 453838609 1,093,390 50,271 SH   SOLE 0 50,271 0 0
Intel COM 458140100 578,337 17,141 SH   SOLE 0 17,141 0 0
IBM COM 459200101 2,370,982 15,413 SH   SOLE 0 15,413 0 0
iShares Barclays TIPS Bond COM 464287176 157,966 1,393 SH   SOLE 0 1,393 0 0
iShares MSCI Emerging Markets Index COM 464287234 315,185 7,615 SH   SOLE 0 7,615 0 0
iShares MSCI EAFE Index Fund COM 464287465 1,522,355 23,349 SH   SOLE 0 23,349 0 0
iShares DJ US Financial Sector COM 464287788 513,300 4,774 SH   SOLE 0 4,774 0 0
Johnson & Johnson COM 478160104 2,332,405 17,631 SH   SOLE 0 17,631 0 0
Lannett Company COM 516012101 847,457 41,542 SH   SOLE 0 41,542 0 0
MDC Holdings COM 552676108 1,083,748 30,675 SH   SOLE 0 30,675 0 0
MVB Financial COM 553810102 184,470 13,975 SH   SOLE 0 13,975 0 0
Magellan Midstream Partners COM 559080106 5,802,661 81,418 SH   SOLE 0 81,418 0 0
McDermott International COM 580037109 1,075,235 149,963 SH   SOLE 0 149,963 0 0
McDonald's COM 580135101 2,534,951 16,551 SH   SOLE 0 16,551 0 0
Microsoft COM 594918104 1,232,894 17,886 SH   SOLE 0 17,886 0 0
MidWest One Financial COM 598511103 346,661 10,229 SH   SOLE 0 10,229 0 0
NMI Holdings COM 629209305 1,619,431 141,435 SH   SOLE 0 141,435 0 0
Nike COM 654106103 904,116 15,324 SH   SOLE 0 15,324 0 0
Old National Bancorp COM 680033107 1,280,040 74,205 SH   SOLE 0 74,205 0 0
ONEOK COM 682680103 4,325,964 82,936 SH   SOLE 0 82,936 0 0
Parke Bancorp COM 700885106 1,033,222 46,126 SH   SOLE 0 46,126 0 0
Peoples Bancorp COM 710577107 1,225,164 38,771 SH   SOLE 0 38,771 0 0
PetroQuest Energy COM 716748108 4,950 2,500 SH   SOLE 0 2,500 0 0
PetroQuest Energy CONV PREF 716748207 917,023 64,922 SH   SOLE 0 64,922 0 0
Pfizer COM 717081103 710,227 21,144 SH   SOLE 0 21,144 0 0
Phillips 66 Partners COM 718549207 2,457,805 49,733 SH   SOLE 0 49,733 0 0
Plains All American Pipeline COM 726503105 311,799 11,869 SH   SOLE 0 11,869 0 0
Procter & Gamble COM 742718109 1,480,591 16,989 SH   SOLE 0 16,989 0 0
RAIT Financial Trust COM 749227609 120,012 54,800 SH   SOLE 0 54,800 0 0
Rice Midstream Partners COM 762819100 4,275,914 214,439 SH   SOLE 0 214,439 0 0
A. Schulmann & Co CONV PREF 808194302 2,668,464 3,132 SH   SOLE 0 3,132 0 0
Schwab Short-Term U.S. Treasury COM 808524862 175,795 3,487 SH   SOLE 0 3,487 0 0
Shell Midstream Partners COM 822634101 2,427,394 80,112 SH   SOLE 0 80,112 0 0
Southern First Bancshares COM 842873101 2,034,490 54,912 SH   SOLE 0 54,912 0 0
Southern National Bancorp COM 843395104 1,644,043 93,412 SH   SOLE 0 93,412 0 0
Southwestern Energy Company COM 845467109 6,080 1,000 SH   SOLE 0 1,000 0 0
SunPower COM 867652406 2,204 236 SH   SOLE 0 236 0 0
SunTrust Banks COM 867914103 566,782 9,993 SH   SOLE 0 9,993 0 0
Superior Industries COM 868168105 927,086 45,114 SH   SOLE 0 45,114 0 0
Timberland Bancorp COM 887098101 1,501,594 59,422 SH   SOLE 0 59,422 0 0
Toll Brothers COM 889478103 7,902 200 SH   SOLE 0 200 0 0
Triumph Group COM 896818101 1,153,874 36,515 SH   SOLE 0 36,515 0 0
Umpqua Holdings COM 904214103 18,360 1,000 SH   SOLE 0 1,000 0 0
Unisys COM 909214306 660,608 51,610 SH   SOLE 0 51,610 0 0
United Bancshares COM 909458101 994,214 42,579 SH   SOLE 0 42,579 0 0
United Technologies COM 913017109 1,866,085 15,282 SH   SOLE 0 15,282 0 0
Wal-Mart COM 931142103 1,203,463 15,902 SH   SOLE 0 15,902 0 0
Webco COM 947621207 8,000 100 SH   SOLE 0 100 0 0
Williams Companies COM 969457100 6,179,330 204,073 SH   SOLE 0 204,073 0 0
Zions Bancorp COM 989701107 647,497 14,746 SH   SOLE 0 14,746 0 0
Zions Bancorp COM 989701115 288,777 22,438 SH   SOLE 0 22,438 0 0
AK Steel COM 001547108 9,855 1,500 SH   SOLE 0 1,500 0 0
A T & T COM 00206r102 183,896 4,874 SH   SOLE 0 4,874 0 0
Aceto Corp CONV BOND 004446AD2 2,001,778 2,180,000 PRN   SOLE 0 2,180,000 0 0
Alaska Communications COM 01167p101 1,266,815 575,825 SH   SOLE 0 575,825 0 0
Alaska Communications CONV BOND 01167pae1 4,108,500 3,960,000 PRN   SOLE 0 3,960,000 0 0
Alliance Holdings GP COM 01861g100 3,286,526 138,672 SH   SOLE 0 138,672 0 0
Alliance One International COM 018772103 2,880 200 SH   SOLE 0 200 0 0
Alliance Resource Partners COM 01877r108 62,370 3,300 SH   SOLE 0 3,300 0 0
American Airlines Group COM 02376R102 1,422,546 28,270 SH   SOLE 0 28,270 0 0
American Express Company COM 025816109 1,290,810 15,323 SH   SOLE 0 15,323 0 0
AmeriServ Financial COM 03074a102 775,098 186,771 SH   SOLE 0 186,771 0 0
Antero Midstream Partners COM 03673l103 3,347,497 100,889 SH   SOLE 0 100,889 0 0
Apple COM 037833100 2,335,704 16,218 SH   SOLE 0 16,218 0 0
Arcbest. COM 03937c105 662,650 32,167 SH   SOLE 0 32,167 0 0
Archrock Partners COM 03957u100 1,278,130 85,723 SH   SOLE 0 85,723 0 0
Astoria Financial COM 046265104 583,040 28,935 SH   SOLE 0 28,935 0 0
Atlas Air Worldwide CONV BOND 049164BH8 1,907,615 1,820,000 PRN   SOLE 0 1,820,000 0 0
BB&T Corporation COM 054937107 65,527 1,443 SH   SOLE 0 1,443 0 0
Banc of California COM 05990k106 4,234,169 196,938 SH   SOLE 0 196,938 0 0
Bank of America COM 060505104 985,247 40,612 SH   SOLE 0 40,612 0 0
Bank of America COM 060505153 170,344 215,625 SH   SOLE 0 215,625 0 0
Bank of America CONV PREF 060505682 36,598 29 SH   SOLE 0 29 0 0
Bank of America COM 060506146 216,720 18,000 SH   SOLE 0 18,000 0 0
Banner Corp COM 06652v208 11,318 200 SH   SOLE 0 200 0 0
Barnes & Noble COM 067774109 466,507 61,382 SH   SOLE 0 61,382 0 0
Berkshire Hills Bancorp COM 084680107 182,745 5,199 SH   SOLE 0 5,199 0 0
Blucora Inc CONV BOND 095229AB6 15,000 15,000 PRN   SOLE 0 15,000 0 0
Boardwalk Pipeline Partners COM 096627104 3,602 200 SH   SOLE 0 200 0 0
Boeing COM 097023105 3,224,709 16,307 SH   SOLE 0 16,307 0 0
Broadsoft CONV BOND 11133BAB8 2,229,612 1,905,000 PRN   SOLE 0 1,905,000 0 0
Cenveo COM 15670s105 94,730 15,555 SH   SOLE 0 15,555 0 0
Cisco Systems COM 17275r102 514,040 16,423 SH   SOLE 0 16,423 0 0
Contura Energy COM 21241b100 681,200 10,400 SH   SOLE 0 10,400 0 0
DR Horton COM 23331a109 8,643 250 SH   SOLE 0 250 0 0
Delek Logistics Partners COM 24664t103 2,011,014 61,405 SH   SOLE 0 61,405 0 0
EOG Resources COM 26875p101 30,415 336 SH   SOLE 0 336 0 0
Emerge Energy Services COM 29102H108 7,659 850 SH   SOLE 0 850 0 0
Energy Transfer Partners COM 29273R109 137,816 6,759 SH   SOLE 0 6,759 0 0
Energy Transfer Equity COM 29273v100 229,779 12,794 SH   SOLE 0 12,794 0 0
EnLink Midstream LLC COM 29336t100 1,039,018 59,035 SH   SOLE 0 59,035 0 0
EnLink Midstream Partners COM 29336u107 3,739,799 220,507 SH   SOLE 0 220,507 0 0
Essa Bancorp COM 29667d104 693,606 47,120 SH   SOLE 0 47,120 0 0
EZCorp Inc CONV BOND 302301AB2 3,589,219 3,705,000 PRN   SOLE 0 3,705,000 0 0
Exxon Mobil Corporation COM 30231g102 1,529,995 18,952 SH   SOLE 0 18,952 0 0
1st Constitution Bancorp COM 31986n102 219,155 12,417 SH   SOLE 0 12,417 0 0
First United Corp COM 33741h107 936,480 62,851 SH   SOLE 0 62,851 0 0
General Cable CONV BOND 369300al2 1,628,300 2,135,000 PRN   SOLE 0 2,135,000 0 0
Global Eagle Entertainment CONV BOND 37951DAB8 1,338,434 2,090,000 PRN   SOLE 0 2,090,000 0 0
Goldman Sachs COM 38141g104 3,415,263 15,391 SH   SOLE 0 15,391 0 0
Greenbriar CONV BOND 393657AH4 2,009,780 1,472,000 PRN   SOLE 0 1,472,000 0 0
HMN Financial COM 40424g108 877,061 49,975 SH   SOLE 0 49,975 0 0
Homestreet COM 43785u102 597,642 21,595 SH   SOLE 0 21,595 0 0
Horsehead Holdings COM 44069P118 141,333 3,578 SH   SOLE 0 3,578 0 0
Invensense CONV BOND 46123DAB2 773,140 775,000 PRN   SOLE 0 775,000 0 0
Iridium Communications COM 46269c102 1,268,142 114,764 SH   SOLE 0 114,764 0 0
Iridium Communications CONV PREF 46269c409 1,158,000 3,000 SH   SOLE 0 3,000 0 0
Iridium Communications CONV PREF 46269c508 2,312,586 19,336 SH   SOLE 0 19,336 0 0
JPMorgan COM 46625h100 1,779,375 19,468 SH   SOLE 0 19,468 0 0
Jefferies Group CONV BOND 472319ag7 1,287,163 1,278,000 PRN   SOLE 0 1,278,000 0 0
Jones Energy CONV PREF 48019R207 25,800 600 SH   SOLE 0 600 0 0
KB HOME CONV BOND 48666KAS8 2,291,191 2,140,000 PRN   SOLE 0 2,140,000 0 0
Kimball Electronics COM 49428j109 1,458,169 80,785 SH   SOLE 0 80,785 0 0
Kinder Morgan, Inc. COM 49456b101 624,124 32,574 SH   SOLE 0 32,574 0 0
LGI Homes COM 50187t106 24,108 600 SH   SOLE 0 600 0 0
MPLX COM 55336v100 3,203,984 95,928 SH   SOLE 0 95,928 0 0
Macquarie Infrastructure CONV BOND 55608BAB1 2,999,792 2,995,000 PRN   SOLE 0 2,995,000 0 0
Merck COM 58933y105 1,093,504 17,062 SH   SOLE 0 17,062 0 0
Meritage Homes COM 59001a102 4,220 100 SH   SOLE 0 100 0 0
MutualFirst Financial COM 62845b104 1,136,189 31,826 SH   SOLE 0 31,826 0 0
NGL Energy Partners COM 62913M107 4,850,016 346,430 SH   SOLE 0 346,430 0 0
Navistar Intl CONV BOND 63934eaq1 2,017,257 2,015,000 PRN   SOLE 0 2,015,000 0 0
Park Sterling COM 70086y105 1,948 164 SH   SOLE 0 164 0 0
Peoples Financial COM 71103b102 1,077,225 79,500 SH   SOLE 0 79,500 0 0
Pinnacle Financial Partners COM 72346q104 16,391 261 SH   SOLE 0 261 0 0
Plains GP Holdings COM 72651a207 1,739,732 66,503 SH   SOLE 0 66,503 0 0
Premier Financial COM 74050m105 1,369,104 66,429 SH   SOLE 0 66,429 0 0
Prospect Capital Corp CONV BOND 74348TAK8 2,196,650 2,179,000 PRN   SOLE 0 2,179,000 0 0
QCR Holdings COM 74727a104 5,389,235 113,697 SH   SOLE 0 113,697 0 0
QEP Resources COM 74733v100 15,150 1,500 SH   SOLE 0 1,500 0 0
Quidel Corp CONV BOND 74838JAA9 2,071,754 1,865,000 PRN   SOLE 0 1,865,000 0 0
RAIT Financial CONV BOND 749227AB0 573,942 610,000 PRN   SOLE 0 610,000 0 0
Rent-A-Center COM 76009n100 445,067 37,975 SH   SOLE 0 37,975 0 0
Royal Gold CONV BOND 780287AA6 1,209,925 1,120,000 PRN   SOLE 0 1,120,000 0 0
SB Financial Group COM 78408d105 2,861,545 169,523 SH   SOLE 0 169,523 0 0
SPDR S&P 600 Small Cap Value COM 78464a300 502,927 4,216 SH   SOLE 0 4,216 0 0
SPDR Dow Jones Industrial Average COM 78467x109 7,836,628 36,750 SH   SOLE 0 36,750 0 0
SandRidge Energy COM 80007p869 1,059,534 61,565 SH   SOLE 0 61,565 0 0
SemGroup Corp COM 81663a105 64,989 2,407 SH   SOLE 0 2,407 0 0
Summit Financial Group COM 86606g101 2,376,154 108,007 SH   SOLE 0 108,007 0 0
Sunpower CONV BOND 867652AJ8 1,367,392 1,730,000 PRN   SOLE 0 1,730,000 0 0
Sunpower CONV BOND 867652AL3 861,875 1,000,000 PRN   SOLE 0 1,000,000 0 0
Targa Resources Corp COM 87612g101 3,583,711 79,286 SH   SOLE 0 79,286 0 0
Andeavor Logistics LP COM 88160T107 2,234,507 43,229 SH   SOLE 0 43,229 0 0
3M COM 88579y101 3,187,596 15,311 SH   SOLE 0 15,311 0 0
Titan Machinery CONV BOND 88830RAB7 2,424,072 2,512,000 PRN   SOLE 0 2,512,000 0 0
Transmontaigne Partners COM 89376v100 2,183,076 51,978 SH   SOLE 0 51,978 0 0
Travelers COM 89417e109 1,946,664 15,385 SH   SOLE 0 15,385 0 0
Two River Bancorp COM 90207c105 1,141,734 61,417 SH   SOLE 0 61,417 0 0
United Community Banks COM 90984p303 6,116 220 SH   SOLE 0 220 0 0
UnitedHealth COM 91324p102 2,887,360 15,572 SH   SOLE 0 15,572 0 0
Verizon Communications COM 92343v104 798,431 17,878 SH   SOLE 0 17,878 0 0
Visa COM 92826c839 1,435,397 15,306 SH   SOLE 0 15,306 0 0
Williams Partners COM 96949L105 113,752 2,836 SH   SOLE 0 2,836 0 0
Wintrust Financial COM 97650w108 2,622,289 34,305 SH   SOLE 0 34,305 0 0
WPX Energy COM 98212b103 44,723 4,630 SH   SOLE 0 4,630 0 0
Xerium Technologies COM 98416j118 350,243 48,712 SH   SOLE 0 48,712 0 0
Aircastle LTD COM g0129k104 1,556,234 71,551 SH   SOLE 0 71,551 0 0
Bunge Ltd. CONV PREF g16962204 2,339,370 22,440 SH   SOLE 0 22,440 0 0
Seagate Technology COM G7945M107 15,500 400 SH   SOLE 0 400 0 0
Genco Shipping COM y2685t123 12,431 62,155 SH   SOLE 0 62,155 0 0
Genco Shipping COM y2685t131 146,474 15,467 SH   SOLE 0 15,467 0 0
Navios Maritime Acquisition COM y62159101 16,170 11,000 SH   SOLE 0 11,000 0 0
Navios Maritime Holdings COM y62196103 460,183 335,900 SH   SOLE 0 335,900 0 0
Navios Maritime Partners COM y62267102 12,879 8,100 SH   SOLE 0 8,100 0 0
Teekay LNG Partners COM y8564m105 2,234,331 145,559 SH   SOLE 0 145,559 0 0
Teekay COM y8564w103 1,051,365 157,626 SH   SOLE 0 157,626 0 0
Teekay Offshore Partners COM y8565j101 27,142 9,457 SH   SOLE 0 9,457 0 0
Teekay Tankers COM y8565n102 18,800 10,000 SH   SOLE 0 10,000 0 0
VTTI Energy Partners COM y9384m101 672,659 34,232 SH   SOLE 0 34,232 0 0