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
ABBOTT LABS COM 2824100 260 6,625 SH   SOLE   0 0 6,625
ABBVIE INC COM 00287Y109 390 6,300 SH   SOLE   0 0 6,300
ALCOA INC COM 13817101 425 45,800 SH   SOLE   0 0 45,800
ALLSCRIPTS HEALTHCARE SOLUTN COM 01988P108 4,588 361,259 SH   SOLE   361,259 0 0
AMPCO-PITTSBURGH CORP COM 32037103 199 17,592 SH   SOLE   0 0 17,592
AT&T INC COM 00206R102 590 13,656 SH   SOLE   0 0 13,656
AUTOBYTEL INC COM NEW 05275N205 1,649 118,885 SH   SOLE   118,885 0 0
AXCELIS TECHNOLOGIES INC COM 54540109 4,471 1,662,116 SH   SOLE   1,662,116 0 0
BENCHMARK ELECTRS INC COM 08160H101 1,867 88,273 SH   SOLE   88,273 0 0
BLACK DIAMOND INC COM 09202G101 4,325 1,044,606 SH   SOLE   1,044,606 0 0
BOSTON SCIENTIFIC CORP COM 101137107 381 16,305 SH   SOLE   0 0 16,305
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 322 35,087 SH   SOLE   35,087 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 3,694 334,860 SH   SOLE   334,860 0 0
CALLAWAY GOLF CO COM 131193104 5,139 503,372 SH   SOLE   503,372 0 0
CAPITAL SR LIVING CORP COM 140475104 589 33,325 SH   SOLE   0 0 33,325
CARRIAGE SVCS INC COM 143905107 361 15,226 SH   SOLE   0 0 15,226
CARRIZO OIL & GAS INC COM 144577103 2,775 77,400 SH   SOLE   77,400 0 0
CECO ENVIRONMENTAL CORP COM 125141101 467 53,378 SH   SOLE   53,378 0 0
CNO FINL GROUP INC COM 12621E103 4,063 232,706 SH   SOLE   232,706 0 0
COCA COLA ENTERPRISES INC NE COM 19122T109 439 12,300 SH   SOLE   0 0 12,300
COLUMBIA PIPELINE GROUP INC COM 198280109 203 7,975 SH   SOLE   0 0 7,975
CONSOLIDATED EDISON INC COM 209115104 642 7,975 SH   SOLE   0 0 7,975
COVANTA HLDG CORP COM 22282E102 4,965 301,800 SH   SOLE   301,800 0 0
CRAWFORD & CO CL A 224633206 406 53,213 SH   SOLE   0 0 53,213
CRYOLIFE INC COM 228903100 3,273 277,123 SH   SOLE   277,123 0 0
CSS INDS INC COM 125906107 3,174 118,372 SH   SOLE   118,372 0 0
CTS CORP COM 126501105 4,020 224,348 SH   SOLE   224,348 0 0
DANA HLDG CORP COM 235825205 2,275 215,453 SH   SOLE   215,453 0 0
DEAN FOODS CO COM NEW 242370203 4,847 267,917 SH   SOLE   267,917 0 0
EASTMAN KODAK CO COM NEW 277461406 1,990 123,748 SH   SOLE   123,748 0 0
ELDORADO RESORTS INC COM 28470R102 1,051 69,145 SH   SOLE   0 0 69,145
ELECTRO SCIENTIFIC INDS COM 285229100 3,161 541,244 SH   SOLE   541,244 0 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 6,400 95,288 SH   SOLE   95,288 0 0
ENTEGRIS INC COM 29362U104 465 32,125 SH   SOLE   0 0 32,125
EXELON CORP COM 30161N101 420 11,540 SH   SOLE   0 0 11,540
EXPRESS INC COM 30219E103 2,679 184,631 SH   SOLE   184,631 0 0
FIRST BUSEY CORP COM NEW 319383204 259 12,110 SH   SOLE   0 0 12,110
FIRSTMERIT CORP COM 337915102 849 41,906 SH   SOLE   41,906 0 0
FLY LEASING LTD SPONSORED ADR 34407D109 5,921 596,254 SH   SOLE   565,079 0 31,175
GAIAM INC CL A 36268Q103 2,947 380,791 SH   SOLE   380,791 0 0
GCP APPLIED TECHNOLOGIES INC COM ADDED 36164Y101 461 17,690 SH   SOLE   0 0 17,690
GENERAL ELECTRIC CO COM 369604103 563 17,882 SH   SOLE   0 0 17,882
GENWORTH FINL INC COM CL A 37247D106 2,221 861,032 SH   SOLE   843,082 0 17,950
GLOBAL POWER EQUIPMENT GRP I COM PAR $0.01 37941P306 1,605 753,498 SH   SOLE   753,498 0 0
GREENHILL & CO INC COM 395259104 4,411 274,006 SH   SOLE   274,006 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 898 20,225 SH   SOLE   0 0 20,225
HECLA MNG CO COM 422704106 1,459 286,001 SH   SOLE   286,001 0 0
HOOPER HOLMES INC COM 439104100 517 427,675 SH   SOLE   427,675 0 0
HUNTSMAN CORP COM 447011107 300 22,275 SH   SOLE   0 0 22,275
INVACARE CORP COM 461203101 4,618 380,723 SH   SOLE   380,723 0 0
IPASS INC COM 46261V108 3,724 3,002,930 SH   SOLE   3,002,930 0 0
JETBLUE AIRWAYS CORP COM 477143101 2,878 173,805 SH   SOLE   173,805 0 0
JOHNSON & JOHNSON COM 478160104 268 2,210 SH   SOLE   0 0 2,210
KCG HLDGS INC CL A 48244B100 5,804 436,428 SH   SOLE   436,428 0 0
KEY TRONICS CORP COM 493144109 503 66,844 SH   SOLE   0 0 66,844
LMI AEROSPACE INC COM 502079106 3,159 392,923 SH   SOLE   392,923 0 0
LSI INDS INC COM 50216C108 6,156 556,081 SH   SOLE   556,081 0 0
MCDERMOTT INTL INC COM 580037109 2,758 558,371 SH   SOLE   558,371 0 0
MERCURY SYS INC COM 589378108 714 28,720 SH   SOLE   0 0 28,720
METLIFE INC COM 59156R108 478 12,000 SH   SOLE   0 0 12,000
MFA FINL INC COM 55272X102 6,352 873,752 SH   SOLE   873,752 0 0
MICROSOFT CORP COM 594918104 425 8,300 SH   SOLE   0 0 8,300
MONDELEZ INTL INC CL A 609207105 366 8,050 SH   SOLE   0 0 8,050
MORGAN STANLEY COM NEW 617446448 377 14,500 SH   SOLE   0 0 14,500
NATIONAL WESTN LIFE INS CO CL A 638522102 5,044 25,832 SH   SOLE   25,832 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 6,620 587,963 SH   SOLE   587,963 0 0
NEOPHOTONICS CORP COM 64051T100 4,213 442,059 SH   SOLE   442,059 0 0
NETSCOUT SYS INC COM 64115T104 1,687 75,810 SH   SOLE   61,200 0 14,610
NISOURCE INC COM 65473P105 359 13,550 SH   SOLE   0 0 13,550
NORTHWEST PIPE CO COM 667746101 3,339 309,785 SH   SOLE   309,785 0 0
OFFICE DEPOT INC COM 676220106 2,106 636,277 SH   SOLE   636,277 0 0
ORION ENERGY SYSTEMS INC COM 686275108 1,535 1,323,153 SH   SOLE   1,323,153 0 0
ORION ENGINEERED CARBONS S A COM L72967109 496 31,191 SH   SOLE   0 0 31,191
ORION ENGINEERED CARBONS S A COM L72967109 866 54,473 SH   SOLE   54,473 0 0
ORTHOFIX INTL N V COM N6748L102 2,287 53,944 SH   SOLE   53,944 0 0
OWENS & MINOR INC NEW COM 690732102 3,700 98,987 SH   SOLE   98,987 0 0
OWENS ILL INC COM NEW 690768403 4,609 255,897 SH   SOLE   255,897 0 0
OWENS ILL INC COM COM NEW 690768403 276 15,350 SH   SOLE   0 0 15,350
PAN AMERICAN SILVER CORP COM 697900108 1,612 98,000 SH   SOLE   98,000 0 0
PERFORMANCE FOOD GROUP CO COM 71377A103 362 13,450 SH   SOLE   0 0 13,450
PFIZER INC COM 717081103 397 11,275 SH   SOLE   0 0 11,275
PITNEY BOWES INC COM 724479100 345 19,409 SH   SOLE   0 0 19,409
PLY GEM HLDGS INC COM 72941W100 172 11,805 SH   SOLE   0 0 11,805
PTC INC COM 69370C100 404 10,760 SH   SOLE   0 0 10,760
PURECYCLE CORP COM NEW 746228303 1,104 234,304 SH   SOLE   234,304 0 0
REALNETWORKS INC COM NEW 75605L708 1,286 298,331 SH   SOLE   297,756 0 575
RED LION HOTELS CORP COM 756764106 620 85,427 SH   SOLE   0 0 85,427
SANMINA CORPORATION COM 801056102 4,031 150,340 SH   SOLE   150,340 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 6,009 379,325 SH   SOLE   379,325 0 0
SEABOARD CORP COM 811543107 4,292 1,495 SH   SOLE   1,495 0 0
SEACHANGE INTL INC COM 811699107 1,738 544,717 SH   SOLE   544,717 0 0
SEACOR HOLDINGS INC COM 811904101 4,504 77,720 SH   SOLE   77,720 0 0
SELECTIVE INS GROUP INC COM 816300107 6,966 182,320 SH   SOLE   182,320 0 0
STERLING CONSTRUCTION CO INC COM 859241101 4,688 954,763 SH   SOLE   954,763 0 0
STEWART INFORMATION SVCS COR COM 860372101 3,358 81,088 SH   SOLE   81,088 0 0
STONE ENERGY CORP NOTE 1.750% 3/0 861642AN6 318 716,000 SH   SOLE   0 0 716,000
SUPERIOR INDS INTL INC COM 868168105 4,240 158,323 SH   SOLE   158,323 0 0
TECK RESOURCES LTD CL B 878742204 168 12,750 SH   SOLE   0 0 12,750
TETRA TECHNOLOGIES INC DEL COM 88162F105 1,028 161,400 SH   SOLE   161,400 0 0
TIMKENSTEEL CORP COM 887399103 1,148 119,303 SH   SOLE   119,303 0 0
TRAVELCENTERS OF AMERICA LLC COM 894174101 3,957 484,979 SH   SOLE   484,979 0 0
TRAVELPORT WORLDWIDE LTD SHS G9019D104 269 20,856 SH   SOLE   0 0 20,856
TREDEGAR CORP COM 894650100 1,293 80,234 SH   SOLE   80,234 0 0
TRI POINTE GROUP INC COM 87265H109 4,117 348,342 SH   SOLE   348,342 0 0
TRINITY BIOTECH PLC SPON ADR NEW 896438306 4,710 415,353 SH   SOLE   415,353 0 0
TRIUMPH GROUP INC NEW COM 896818101 438 12,348 SH   SOLE   12,348 0 0
TRUSTCO BK CORP N Y COM 898349105 388 60,550 SH   SOLE   0 0 60,550
VISHAY INTERTECHNOLOGY INC COM 928298108 5,297 427,560 SH   SOLE   427,560 0 0
VONAGE HLDGS CORP COM 92886T201 8,399 1,376,822 SH   SOLE   1,376,822 0 0
WOLVERINE WORLD WIDE INC COM 978097103 4,067 200,134 SH   SOLE   200,134 0 0
XCERRA CORP COM 98400J108 4,121 716,659 SH   SOLE   716,659 0 0
XEROX CORP COM 984121103 438 46,150 SH   SOLE   0 0 46,150
XURA INC COM 98420V107 4,967 203,303 SH   SOLE   203,303 0 0
YAHOO INC COM 984332106 230 6,125 SH   SOLE   0 0 6,125