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 002824100 429 6,585 SH   SOLE   0 0 6,585
ACCURAY INC COM 004397105 1,803 439,811 SH   SOLE   439,811 0 0
ADTRAN INC COM 00738A106 4,895 329,650 SH   SOLE   329,650 0 0
ADVANTAGE OIL & GAS LTD COM 00765F101 2,370 764,353 SH   SOLE   764,353 0 0
AEROHIVE NETWORKS INC COM 007786106 1,133 285,400 SH   SOLE   285,400 0 0
ALCOA CORP COM 013872106 218 5,128 SH   SOLE   0 0 5,128
ALLSCRIPTS HEALTHCARE SOLUTN COM 01988P108 6,254 521,177 SH   SOLE   521,177 0 0
AMPCO-PITTSBURGH CORP COM 032037103 1,365 132,261 SH   SOLE   114,730 0 17,531
ANTERO RES CORP COM 03674X106 775 38,085 SH   SOLE   0 0 38,085
ARDMORE SHIPPING CORP COM Y0207T100 3,238 394,837 SH   SOLE   394,837 0 0
AT&T INC COM 00206R102 434 13,556 SH   SOLE   0 0 13,556
AUTOWEB INC COM 05335B100 962 212,872 SH   SOLE   212,872 0 0
BOSTON SCIENTIFIC CORP COM 101137107 471 14,315 SH   SOLE   0 0 14,315
BROOKLINE BANCORP INC DEL COM 11373M107 2,141 115,106 SH   SOLE   115,106 0 0
CAPITAL SR LIVING CORP COM 140475104 397 40,765 SH   SOLE   0 0 40,765
CARRIZO OIL & GAS INC COM 144577103 3,097 111,200 SH   SOLE   111,200 0 0
CECO ENVIRONMENTAL CORP COM 125141101 797 128,398 SH   SOLE   107,726 0 20,672
CELESTICA INC SUB VTG SHS 15101Q108 5,182 436,532 SH   SOLE   436,532 0 0
CHICOS FAS INC COM 168615102 2,505 307,730 SH   SOLE   307,730 0 0
CIENA CORP COM NEW 171779309 6,028 228,670 SH   SOLE   198,700 0 29,970
CISION LTD SHS G1992S109 532 35,295 SH   SOLE   0 0 35,295
CLARUS CORP NEW COM 18270P109 7,814 944,426 SH   SOLE   869,256 0 75,170
CLEVELAND CLIFFS INC COM 185899101 4,222 500,856 SH   SOLE   500,856 0 0
CNO FINL GROUP INC COM 12621E103 2,964 155,697 SH   SOLE   155,697 0 0
COCA COLA EUROPEAN PARTNERS SHS G25839104 282 6,810 SH   SOLE   0 0 6,810
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 976 55,786 SH   SOLE   0 0 55,786
COMSTOCK RES INC NOTE 7.750% 4/0 205768AM6 713 698,611 SH   SOLE   0 0 698,611
CONDUENT INC COM 206787103 4,345 239,297 SH   SOLE   226,234 0 13,063
CONSOLIDATED EDISON INC COM 209115104 337 4,315 SH   SOLE   0 0 4,315
COVANTA HLDG CORP COM 22282E102 6,302 381,965 SH   SOLE   381,965 0 0
COWEN INC CL A NEW 223622606 5,918 427,268 SH   SOLE   427,268 0 0
CRAWFORD & CO CL A 224633206 249 28,745 SH   SOLE   0 0 28,745
CSS INDS INC COM 125906107 3,126 184,972 SH   SOLE   184,972 0 0
CUI GLOBAL INC COM NEW 126576206 33 11,869 SH   SOLE   0 0 11,869
DANA INCORPORATED COM 235825205 1,494 74,000 SH   SOLE   74,000 0 0
DONNELLEY FINL SOLUTIONS INC COM 25787G100 5,799 333,839 SH   SOLE   333,839 0 0
DOWDUPONT INC COM 26078J100 613 9,003 SH   SOLE   0 0 9,003
EXELON CORP COM 30161N101 424 10,140 SH   SOLE   0 0 10,140
FLAHERTY & CRUMRINE DYN PFD SHS 33848W106 545 24,650 SH   SOLE   0 0 24,650
FLY LEASING LTD SPONSORED ADR 34407D109 4,727 336,031 SH   SOLE   304,786 0 31,245
GCP APPLIED TECHNOLOGIES INC COM 36164Y101 253 8,815 SH   SOLE   0 0 8,815
GENERAL ELECTRIC CO COM 369604103 366 27,804 SH   SOLE   0 0 27,804
GENWORTH FINL INC COM CL A 37247D106 4,689 1,041,641 SH   SOLE   1,015,241 0 26,400
GRACE W R & CO DEL NEW COM 38388F108 775 10,778 SH   SOLE   0 0 10,778
GRAY TELEVISION INC COM 389375106 6,611 418,430 SH   SOLE   418,430 0 0
GREENHILL & CO INC COM 395259104 3,018 106,257 SH   SOLE   106,257 0 0
GUESS INC COM 401617105 2,521 117,820 SH   SOLE   117,820 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 486 9,222 SH   SOLE   0 0 9,222
HARVARD BIOSCIENCE INC COM 416906105 2,285 427,172 SH   SOLE   427,172 0 0
HORIZON GLOBAL CORP COM 44052W104 3,101 520,362 SH   SOLE   520,362 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 2,370 309,838 SH   SOLE   309,838 0 0
INFINERA CORPORATION COM 45667G103 3,593 367,790 SH   SOLE   331,530 0 36,260
INVACARE CORP COM 461203101 4,192 226,950 SH   SOLE   200,126 0 26,824
INVESTORS REAL ESTATE TR SH BEN INT 461730103 922 166,712 SH   SOLE   166,712 0 0
IPASS INC COM 46261V108 10 30,366 SH   SOLE   30,366 0 0
JAKKS PAC INC COM 47012E106 1,061 324,065 SH   SOLE   324,065 0 0
JETBLUE AIRWAYS CORP COM 477143101 3,502 184,505 SH   SOLE   184,505 0 0
JOHNSON & JOHNSON COM 478160104 206 1,558 SH   SOLE   0 0 1,558
KEY TRONIC CORP COM 493144109 476 58,088 SH   SOLE   0 0 58,088
KIMBELL RTY PARTNERS LP UNIT 49435R102 905 40,956 SH   SOLE   0 0 40,956
LOGMEIN INC COM 54142L109 496 6,102 SH   SOLE   0 0 6,102
LSI INDS INC COM 50216C108 1,986 371,872 SH   SOLE   371,872 0 0
LYDALL INC DEL COM 550819106 315 7,210 SH   SOLE   7,210 0 0
MANITEX INTL INC COM 563420108 1,859 148,971 SH   SOLE   148,971 0 0
MATRIX SVC CO COM 576853105 1,699 92,585 SH   SOLE   92,585 0 0
MCDERMOTT INTL INC COM 580037703 4,618 235,000 SH   SOLE   235,000 0 0
METLIFE INC COM 59156R108 426 9,303 SH   SOLE   0 0 9,303
MFA FINL INC COM 55272X102 4,976 656,452 SH   SOLE   656,452 0 0
MGIC INVT CORP WIS COM 552848103 5,042 470,300 SH   SOLE   470,300 0 0
MICROSOFT CORP COM 594918104 554 5,255 SH   SOLE   0 0 5,255
MONDELEZ INTL INC CL A 609207105 346 8,050 SH   SOLE   0 0 8,050
NATIONAL WESTN LIFE INS CO CL A 638517102 5,343 17,389 SH   SOLE   17,389 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 4,778 272,548 SH   SOLE   272,548 0 0
NCI BUILDING SYS INC COM NEW 628852204 408 26,390 SH   SOLE   0 0 26,390
NEWELL BRANDS INC COM 651229106 723 27,586 SH   SOLE   0 0 27,586
NISOURCE INC COM 65473P105 308 11,965 SH   SOLE   0 0 11,965
NUANCE COMMUNICATIONS INC COM 67020Y100 1,045 70,775 SH   SOLE   0 0 70,775
OFFICE DEPOT INC COM 676220106 3,406 1,335,866 SH   SOLE   1,335,866 0 0
ORION ENERGY SYSTEMS INC COM 686275108 1,462 1,328,938 SH   SOLE   1,328,938 0 0
ORION ENGINEERED CARBONS S A COM L72967109 4,662 150,460 SH   SOLE   137,198 0 13,262
OWENS ILL INC COM NEW 690768403 6,115 361,738 SH   SOLE   340,838 0 20,900
PAN AMERICAN SILVER CORP COM 697900108 3,784 211,403 SH   SOLE   211,403 0 0
PFIZER INC COM 717081103 347 8,985 SH   SOLE   0 0 8,985
PURECYCLE CORP COM NEW 746228303 1,661 173,934 SH   SOLE   173,934 0 0
QUICKLOGIC CORP COM 74837P108 337 294,775 SH   SOLE   272,975 0 21,800
REALNETWORKS INC COM NEW 75605L708 197 53,155 SH   SOLE   52,580 0 575
RED LION HOTELS CORP COM 756764106 748 61,097 SH   SOLE   0 0 61,097
ROWAN COMPANIES PLC SHS CL A G7665A101 3,360 207,140 SH   SOLE   207,140 0 0
SANMINA CORPORATION COM 801056102 4,065 138,754 SH   SOLE   138,754 0 0
SEABOARD CORP COM 811543107 3,574 902 SH   SOLE   902 0 0
SEACHANGE INTL INC COM 811699107 573 167,498 SH   SOLE   167,498 0 0
SEACOR HOLDINGS INC COM 811904101 3,078 53,752 SH   SOLE   53,752 0 0
SOUTHWESTERN ENERGY CO COM 845467109 1,969 371,600 SH   SOLE   371,600 0 0
STEWART INFORMATION SVCS COR COM 860372101 5,751 133,535 SH   SOLE   133,535 0 0
SUPERIOR DRILLING PRODS INC COM 868153107 542 281,470 SH   SOLE   260,470 0 21,000
TECHNIPFMC PLC COM G87110105 535 16,060 SH   SOLE   0 0 16,060
TECK RESOURCES LTD CL B 878742204 451 17,805 SH   SOLE   0 0 17,805
TETRA TECHNOLOGIES INC DEL COM 88162F105 3,359 754,860 SH   SOLE   754,860 0 0
THESTREET INC COM 88368Q103 194 88,991 SH   SOLE   88,991 0 0
TOWER INTL INC COM 891826109 543 17,064 SH   SOLE   17,064 0 0
TRAVELCENTERS OF AMER LLC COM 894174101 1,823 520,870 SH   SOLE   520,870 0 0
TRI POINTE GROUP INC COM 87265H109 3,428 209,537 SH   SOLE   209,537 0 0
TRINITY BIOTECH PLC SPON ADR NEW 896438306 2,565 513,013 SH   SOLE   513,013 0 0
TRIUMPH GROUP INC NEW COM 896818101 3,855 196,693 SH   SOLE   196,693 0 0
TRUSTCO BK CORP N Y COM 898349105 378 41,795 SH   SOLE   0 0 41,795
UNITED NAT FOODS INC COM 911163103 5,065 123,775 SH   SOLE   103,600 0 20,175
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 210 2,505 SH   SOLE   0 0 2,505
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 246 3,150 SH   SOLE   0 0 3,150
VERIZON COMMUNICATIONS INC COM 92343V104 995 18,947 SH   SOLE   0 0 18,947
VISHAY INTERTECHNOLOGY INC COM 928298108 5,076 218,811 SH   SOLE   218,811 0 0
VONAGE HLDGS CORP COM 92886T201 6,974 541,019 SH   SOLE   541,019 0 0
XCERRA CORP COM 98400J108 2,463 176,335 SH   SOLE   176,335 0 0
XEROX CORP COM 984121103 422 16,400 SH   SOLE   0 0 16,400