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
A T& T Corp. COM 00206R102 1,012 28,500 SH   SOLE 0 28,500 0 0
AG Mortgage Investment Trust I COM 001228105 2,374 137,389 SH   SOLE 0 132,354 0 5,035
Alcoa, Inc. COM 013817101 2,510 225,111 SH   SOLE 0 215,766 0 9,345
Allegheny Technologies Inc COM 01741R102 1,139 37,715 SH   SOLE 0 35,405 0 2,310
American Airlines Group Inc COM 02376R102 1,537 38,485 SH   SOLE 0 36,590 0 1,895
American General Capital Corp. COM 02503X105 2,056 111,909 SH   SOLE 0 106,634 0 5,275
Anadarko Petroleum Corp. COM 032511107 1,042 13,350 SH   SOLE 0 12,550 0 800
Apollo Residential Mortgage, I COM 03763V102 2,311 157,350 SH   SOLE 0 151,705 0 5,645
Apple, Inc. COM 037833100 3,175 25,317 SH   SOLE 0 24,708 0 609
Aura Systems, Inc. COM 051526200 103 2,156,114 SH   SOLE 0 2,156,114 0 0
B&G Foods Inc. COM 05508R106 1,380 48,380 SH   SOLE 0 46,470 0 1,910
Bank Of America Corp. COM 060505104 633 37,170 SH   SOLE 0 37,170 0 0
Bill Barrett Corp. COM 06846N104 170 19,800 SH   SOLE 0 19,800 0 0
Boeing Co. COM 097023105 877 6,320 SH   SOLE 0 6,320 0 0
Celgene Corp. COM 151020104 868 7,498 SH   SOLE 0 6,870 0 628
Cinedigm Corp. COM 172406100 32 45,505 SH   SOLE 0 45,505 0 0
Citigroup, Inc. COM 172967424 874 15,825 SH   SOLE 0 14,580 0 1,245
Clearsign Combustion Corp. COM 185064102 943 174,398 SH   SOLE 0 171,263 0 3,135
Corning, Inc. COM 219350105 2,731 138,405 SH   SOLE 0 134,510 0 3,895
Dot Hill Systems Corp. COM 25848T109 2,919 477,003 SH   SOLE 0 456,248 0 20,755
Eldorado Gold Corp COM 284902103 299 72,165 SH   SOLE 0 64,825 0 7,340
EOG Resources, Inc. COM 26875P101 604 6,900 SH   SOLE 0 6,290 0 610
F5 Networks, Inc. COM 315616102 301 2,500 SH   SOLE 0 2,500 0 0
Facebook Inc. COM 30303M102 445 5,190 SH   SOLE 0 5,190 0 0
Fly Leasing Ltd. ADR COM 34407D109 1,699 108,205 SH   SOLE 0 103,925 0 4,280
Freeport-McMoran Inc. COM 35671D857 3,474 186,568 SH   SOLE 0 180,698 0 5,870
General Motors COM 37045V100 917 27,500 SH   SOLE 0 27,500 0 0
Gilead Sciences, Inc. COM 375558103 1,877 16,035 SH   SOLE 0 15,170 0 865
Gladstone Investment Corp. COM 376546107 626 78,785 SH   SOLE 0 78,785 0 0
Golar LNG Ltd COM G9456A100 1,411 30,145 SH   SOLE 0 30,145 0 0
Goldcorp, Inc. COM 380956409 1,117 68,920 SH   SOLE 0 66,765 0 2,155
Goodyear Tire & Rubber Co. COM 382550101 2,401 79,651 SH   SOLE 0 75,521 0 4,130
Google, Inc. Class A COM 38259P508 378 700 SH   SOLE 0 700 0 0
Google, Inc. Class C Non Votin COM 38259P706 1,058 2,032 SH   SOLE 0 1,937 0 95
Halliburton Co. COM 406216101 1,195 27,740 SH   SOLE 0 25,850 0 1,890
Intercontinentalexchange Inc C COM 45866F104 671 3,000 SH   SOLE 0 3,000 0 0
International Paper Co. COM 460146103 1,474 30,975 SH   SOLE 0 29,925 0 1,050
Inventure Group, Inc. COM 461212102 594 58,540 SH   SOLE 0 53,310 0 5,230
Invesco Mortgage Capital Inc. COM 46131B100 421 29,391 SH   SOLE 0 26,691 0 2,700
J. C. Penny Co. COM 708160106 101 11,870 SH   SOLE 0 11,870 0 0
JP Morgan Chase & Co. COM 46625H100 775 11,439 SH   SOLE 0 10,739 0 700
Kinder Morgan, Inc. COM 49456B101 1,567 40,828 SH   SOLE 0 39,333 0 1,495
Kratos Defense & Security Solu COM 50077B207 1,464 232,332 SH   SOLE 0 218,939 0 13,393
Las Vegas Sands Corp Com COM 517834107 1,267 24,100 SH   SOLE 0 23,105 0 995
Lowe's Companies, Inc. COM 548661107 2,057 30,720 SH   SOLE 0 30,720 0 0
Lyondellbasell Industries NV COM N53745100 865 8,360 SH   SOLE 0 8,360 0 0
Medtronic, Inc. COM 585055106 268 3,618 SH   SOLE 0 3,618 0 0
Meritor, Inc. COM 59001K100 587 44,755 SH   SOLE 0 40,465 0 4,290
MFA Financial, Inc. COM 55272X102 913 123,560 SH   SOLE 0 123,560 0 0
Micron Technology, Inc. COM 595112103 1,302 69,095 SH   SOLE 0 65,905 0 3,190
Microsoft Corp. COM 594918104 3,957 89,619 SH   SOLE 0 87,579 0 2,040
NCR Corp. COM 62886e108 1,789 59,450 SH   SOLE 0 56,265 0 3,185
Northern Oil & Gas, Inc. COM 665531109 1,231 181,780 SH   SOLE 0 171,475 0 10,305
Photronics, Inc. COM 719405102 1,566 164,640 SH   SOLE 0 154,685 0 9,955
Precision Castparts Corp. COM 740189105 658 3,290 SH   SOLE 0 3,050 0 240
Preferred Apartment Coummuniti COM 74039L103 1,718 172,695 SH   SOLE 0 165,170 0 7,525
Qorvo Inc COM 74736k101 1,572 19,580 SH   SOLE 0 19,290 0 290
Ring Energy, Inc. COM 76680v108 1,918 171,380 SH   SOLE 0 161,890 0 9,490
Rite Aid Corp. COM 767754104 2,148 257,240 SH   SOLE 0 243,245 0 13,995
Royal Gold Inc. COM 780287108 2,021 32,810 SH   SOLE 0 31,415 0 1,395
RR Donnelley & Sons Co. COM 257867101 871 50,000 SH   SOLE 0 50,000 0 0
Schlumberger Ltd. COM 806857108 365 4,240 SH   SOLE 0 4,240 0 0
Starbucks Corp. COM 855244109 322 6,000 SH   SOLE 0 6,000 0 0
Stillwater Mining Co. COM 86074Q102 1,528 131,835 SH   SOLE 0 125,495 0 6,340
Strategic Environmental & Ener COM 86271N100 48 52,069 SH   SOLE 0 52,069 0 0
Sun Life Financial Services Ca COM 866796105 534 16,000 SH   SOLE 0 16,000 0 0
Tenneco Automotive, Inc. COM 880349105 1,595 27,770 SH   SOLE 0 25,230 0 2,540
Thermo Fisher Scientific, Inc. COM 883556102 696 5,360 SH   SOLE 0 4,910 0 450
Towerstream Corp. COM 892000100 886 495,140 SH   SOLE 0 464,500 0 30,640
Two Harbors Investment Corp. COM 90187B101 2,652 272,250 SH   SOLE 0 262,520 0 9,730
Tyson Foods, Inc. -Cl A COM 902494103 1,528 35,845 SH   SOLE 0 35,315 0 530
United Parcel Service Cl B COM 911312106 1,106 11,410 SH   SOLE 0 10,975 0 435
United Rentals, Inc. COM 911363109 2,226 25,408 SH   SOLE 0 23,808 0 1,600
Vishay Intertechnology, Inc. COM 928298108 1,881 161,010 SH   SOLE 0 149,620 0 11,390
Walt Disney Co. COM 254687106 746 6,540 SH   SOLE 0 5,995 0 545