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
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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
AG Mortgage Investment Trust I COM 001228105 2,889 152,641 SH   SOLE   148,781 0 3,860
Alcoa, Inc. COM 013817101 3,348 224,857 SH   SOLE   215,207 0 9,650
American General Capital Corp. COM 02503X105 2,815 120,260 SH   SOLE   115,980 0 4,280
Anadarko Petroleum Corp. COM 032511107 1,760 16,075 SH   SOLE   15,420 0 655
Apollo Residential Mortgage, I COM 03763V102 2,676 160,050 SH   SOLE   155,985 0 4,065
Apple, Inc. COM 037833100 2,562 27,570 SH   SOLE   27,031 0 539
Aura Systems, Inc. COM 051526200 325 2,656,011 SH   SOLE   2,656,011 0 0
Bank Of America Corp. COM 060505104 154 10,000 SH   SOLE   10,000 0 0
Capstead Mortgage REIT COM 14067E506 782 59,447 SH   SOLE   55,922 0 3,525
Carrizo Oil & Gas, Inc. COM 144577103 1,654 23,875 SH   SOLE   22,950 0 925
Celgene Corp. COM 151020104 761 8,858 SH   SOLE   8,230 0 628
Cinedigm Corp. COM 172406100 2,154 865,061 SH   SOLE   832,191 0 32,870
Cinemark Holdings, Inc. COM 17243V102 3,979 112,533 SH   SOLE   108,728 0 3,805
Citigroup, Inc. COM 172967424 784 16,647 SH   SOLE   15,402 0 1,245
Clearsign Combustion Corp. COM 185064102 1,648 179,521 SH   SOLE   173,071 0 6,450
Corning, Inc. COM 219350105 2,594 118,170 SH   SOLE   115,390 0 2,780
Discovery Holding Co., Cl C COM 25470F302 741 10,210 SH   SOLE   9,510 0 700
Dot Hill Systems Corp. COM 25848T109 3,032 645,025 SH   SOLE   620,370 0 24,655
Eldorado Gold Corp COM 284902103 220 28,755 SH   SOLE   28,755 0 0
Ellington Financial LLC COM 288522303 395 16,470 SH   SOLE   16,470 0 0
Ensco International, Inc. Clas COM G3157S106 1,563 28,130 SH   SOLE   28,130 0 0
EOG Resources, Inc. COM 26875P101 917 7,846 SH   SOLE   7,236 0 610
Facebook Inc. COM 30303M102 682 10,135 SH   SOLE   9,340 0 795
Freeport-McMoran Copper & Gold COM 35671D857 3,113 85,285 SH   SOLE   83,360 0 1,925
General Electric Co. COM 369604103 1,663 63,278 SH   SOLE   61,078 0 2,200
Gilead Sciences, Inc. COM 375558103 667 8,045 SH   SOLE   7,385 0 660
Goldcorp, Inc. New Common COM 380956409 290 10,400 SH   SOLE   10,400 0 0
Goodrich Petroleum Corp COM 382410405 1,784 64,625 SH   SOLE   62,210 0 2,415
Goodyear Tire & Rubber Co. COM 382550101 2,981 107,303 SH   SOLE   102,323 0 4,980
Google, Inc. Class A COM 38259P508 292 500 SH   SOLE   500 0 0
Google, Inc. Class C Non Votin COM 38259P706 288 500 SH   SOLE   500 0 0
Halliburton Co. COM 406216101 1,700 23,945 SH   SOLE   22,925 0 1,020
Hercules Offshore, Inc. COM 427093109 1,172 291,515 SH   SOLE   279,585 0 11,930
Hewlett-Packard Co. COM 428236103 2,621 77,835 SH   SOLE   75,845 0 1,990
Intel Corp. COM 458140100 1,938 62,720 SH   SOLE   60,870 0 1,850
Invesco Mortgage Capital Inc. COM 46131B100 792 45,618 SH   SOLE   42,918 0 2,700
JP Morgan Chase & Co. COM 46625H100 814 14,134 SH   SOLE   13,434 0 700
Kinder Morgan, Inc. COM 49456B101 1,128 31,106 SH   SOLE   29,806 0 1,300
Kratos Defense & Security Solu COM 50077B207 2,055 263,428 SH   SOLE   253,255 0 10,173
Linkedin Corp- A COM 53578a108 511 2,980 SH   SOLE   2,760 0 220
Lowe's Companies, Inc. COM 548661107 1,474 30,720 SH   SOLE   30,720 0 0
Magnum Hunter Resources Corp. COM 55973B102 2,292 279,570 SH   SOLE   269,075 0 10,495
Meritor, Inc. COM 59001K100 2,170 166,400 SH   SOLE   160,205 0 6,195
MFA Financial, Inc. COM 55272X102 1,021 124,300 SH   SOLE   124,300 0 0
Micron Technology, Inc. COM 595112103 1,772 53,790 SH   SOLE   51,675 0 2,115
Microsoft Corp. COM 594918104 3,990 95,689 SH   SOLE   94,089 0 1,600
NCR Corp. COM 62886e108 2,185 62,265 SH   SOLE   59,940 0 2,325
Northern Oil & Gas, Inc. COM 665531109 1,921 117,955 SH   SOLE   113,380 0 4,575
Pepsico, Inc. COM 713448108 796 8,912 SH   SOLE   8,312 0 600
Potash Corp. of Saskatchewan COM 73755L107 2,266 59,695 SH   SOLE   57,895 0 1,800
Pulse Electronics Corp. COM 74586W205 269 107,671 SH   SOLE   107,671 0 0
Qualcomm, Inc. COM 747525103 1,102 13,913 SH   SOLE   13,063 0 850
RF Micro Devices, Inc. COM 749941100 2,674 278,850 SH   SOLE   269,105 0 9,745
Rite Aid Corp. COM 767754104 634 88,440 SH   SOLE   88,440 0 0
SanDisk Corp. COM 80004c101 1,275 12,205 SH   SOLE   11,760 0 445
Schwab Value Advantage Money F COM 808515605 16 16,331 SH   SOLE   16,331 0 0
Silver Wheaton Corp. COM 828336107 4,053 154,297 SH   SOLE   149,272 0 5,025
Stillwater Mining Co. COM 86074Q102 1,092 62,250 SH   SOLE   58,950 0 3,300
Tenneco Automotive, Inc. COM 880349105 1,804 27,465 SH   SOLE   25,890 0 1,575
Towerstream Corp. COM 892000100 1,198 617,770 SH   SOLE   587,130 0 30,640
True Drinks Holdings, Inc. COM 897837100 58 144,150 SH   SOLE   144,150 0 0
Two Harbors Investment Corp. COM 90187B101 1,068 101,900 SH   SOLE   101,900 0 0
United Parcel Service Cl B COM 911312106 1,227 11,955 SH   SOLE   11,520 0 435
United Rentals, Inc. COM 911363109 2,389 22,810 SH   SOLE   21,690 0 1,120
Vishay Intertechnology, Inc. COM 928298108 1,934 124,880 SH   SOLE   120,180 0 4,700
Walt Disney Co. COM 254687106 818 9,540 SH   SOLE   8,890 0 650
Widepoint Corp. COM 967590100 76 43,235 SH   SOLE   43,235 0 0
Willbros Group, Inc. COM 969203108 2,127 172,211 SH   SOLE   165,361 0 6,850