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
AK Steel COM 001547108 8,490 1,500 SH   SOLE 0 1,500 0 0
Alliance One International COM 018772103 2,650 200 SH   SOLE 0 200 0 0
American Express COM 025816109 1,639,608 16,510 SH   SOLE 0 16,510 0 0
Apple COM 037833100 2,954,352 17,458 SH   SOLE 0 17,458 0 0
BB&T Corporation COM 054937107 71,746 1,443 SH   SOLE 0 1,443 0 0
Bank of America COM 060505104 1,198,866 40,612 SH   SOLE 0 40,612 0 0
Bank of America Corp WARRANT 060505153 461,438 215,625 SH   SOLE 0 215,625 0 0
Bank of America CONV PREF 060505682 38,251 29 SH   SOLE 0 29 0 0
Bank of America Corp WARRANT 060506146 316,080 18,000 SH   SOLE 0 18,000 0 0
Barnes & Noble COM 067774109 775,206 115,702 SH   SOLE 0 115,702 0 0
Berkshire Hills Bancorp COM 084680107 190,283 5,199 SH   SOLE 0 5,199 0 0
Boardwalk Pipeline Partners COM 096627104 2,582 200 SH   SOLE 0 200 0 0
Boeing COM 097023105 5,153,257 17,474 SH   SOLE 0 17,474 0 0
Caterpillar COM 149123101 2,626,386 16,667 SH   SOLE 0 16,667 0 0
Central Valley Community Bancorp COM 155685100 503,330 24,942 SH   SOLE 0 24,942 0 0
Chesapeake Energy COM 165167107 8,736 2,206 SH   SOLE 0 2,206 0 0
Chesapeake Energy CONV PREF 165167768 2,064,600 3,330 SH   SOLE 0 3,330 0 0
Chevron COM 166764100 2,724,822 21,765 SH   SOLE 0 21,765 0 0
Choiceone Financial COM 170386106 14,375 604 SH   SOLE 0 604 0 0
Citigroup WARRANT 172967226 165,469 1,653,040 SH   SOLE 0 1,653,040 0 0
Citigroup COM 172967424 793,508 10,664 SH   SOLE 0 10,664 0 0
Citizens Financial Group COM 174610105 681,965 16,245 SH   SOLE 0 16,245 0 0
Citizens Community Bancorp COM 174903104 1,328,666 98,419 SH   SOLE 0 98,419 0 0
Civista Bancshares COM 178867107 1,498,882 68,131 SH   SOLE 0 68,131 0 0
Coca-Cola COM 191216100 820,243 17,878 SH   SOLE 0 17,878 0 0
Codorus Bancorp COM 192025104 1,116,369 40,551 SH   SOLE 0 40,551 0 0
Walt Disney COM 254687106 1,837,775 17,094 SH   SOLE 0 17,094 0 0
El Pollo Loco COM 268603107 702,108 70,920 SH   SOLE 0 70,920 0 0
Enterprise Products Partners COM 293792107 3,153,391 118,951 SH   SOLE 0 118,951 0 0
EZCORP COM 302301106 54,473 4,465 SH   SOLE 0 4,465 0 0
F.N.B. Corporation COM 302520101 116,696 8,444 SH   SOLE 0 8,444 0 0
Federal Agricultural Mortgage COM 313148306 31,296 400 SH   SOLE 0 400 0 0
Freddie Mac PREF STK 313400640 1,031,448 155,105 SH   SOLE 0 155,105 0 0
Fannie Mae PREF STK 313586752 17,600 2,000 SH   SOLE 0 2,000 0 0
Fifth Third Bancorp COM 316773100 342,084 11,275 SH   SOLE 0 11,275 0 0
First Bancorp COM 318910106 403,595 11,430 SH   SOLE 0 11,430 0 0
First Bancshares COM 318916103 1,893,688 55,371 SH   SOLE 0 55,371 0 0
First Commonwealth Financial COM 319829107 160,857 11,233 SH   SOLE 0 11,233 0 0
First Community Corp COM 319835104 1,389,674 61,490 SH   SOLE 0 61,490 0 0
Ford Motor Co. COM 345370860 61,629 4,934 SH   SOLE 0 4,934 0 0
FreightCar America Inc. COM 357023100 701,339 41,062 SH   SOLE 0 41,062 0 0
General Electric COM 369604103 627,349 35,951 SH   SOLE 0 35,951 0 0
Genesis Energy COM 371927104 2,212,851 99,009 SH   SOLE 0 99,009 0 0
Haverty Furniture COM 419596101 969,873 42,820 SH   SOLE 0 42,820 0 0
Hawaiian Holdings COM 419879101 104,845 2,631 SH   SOLE 0 2,631 0 0
Hawthorn Bancshares COM 420476103 416,432 20,069 SH   SOLE 0 20,069 0 0
Holly Energy Partners COM 435763107 2,642,607 81,336 SH   SOLE 0 81,336 0 0
Home Depot COM 437076102 3,277,353 17,292 SH   SOLE 0 17,292 0 0
Honeywell COM 438516106 76,680 500 SH   SOLE 0 500 0 0
HopFed Bancorp COM 439734104 305,720 21,682 SH   SOLE 0 21,682 0 0
Independent Bank COM 453838609 1,123,600 50,273 SH   SOLE 0 50,273 0 0
Intel Corporation COM 458140100 858,484 18,598 SH   SOLE 0 18,598 0 0
IBM COM 459200101 2,546,772 16,600 SH   SOLE 0 16,600 0 0
iShares Barclays TIPS Bond COM 464287176 161,813 1,418 SH   SOLE 0 1,418 0 0
iShares MSCI Emerging Markets COM 464287234 358,819 7,615 SH   SOLE 0 7,615 0 0
iShares MSCI EAFE Index Fund COM 464287465 3,055,110 43,452 SH   SOLE 0 43,452 0 0
iShares Core S&P MidCap 400 COM 464287507 76,446 403 SH   SOLE 0 403 0 0
iShares DJ US Financial Sector COM 464287788 570,159 4,774 SH   SOLE 0 4,774 0 0
Johnson & Johnson COM 478160104 2,609,131 18,674 SH   SOLE 0 18,674 0 0
Lannett COM 516012101 1,049,730 45,247 SH   SOLE 0 45,247 0 0
MDC Holdings COM 552676108 1,118,664 35,090 SH   SOLE 0 35,090 0 0
MVB Financial COM 553810102 829,567 41,272 SH   SOLE 0 41,272 0 0
Magellan Midstream COM 559080106 5,760,896 81,208 SH   SOLE 0 81,208 0 0
McDermott International COM 580037109 1,038,574 157,838 SH   SOLE 0 157,838 0 0
McDonald's COM 580135101 3,049,278 17,716 SH   SOLE 0 17,716 0 0
Microsoft Corporation COM 594918104 1,624,338 18,989 SH   SOLE 0 18,989 0 0
Midsouth Bancorp COM 598039105 15,238 1,150 SH   SOLE 0 1,150 0 0
MidWest One Financial COM 598511103 342,978 10,229 SH   SOLE 0 10,229 0 0
NMI Holdings COM 629209305 2,299,250 135,250 SH   SOLE 0 135,250 0 0
Nike COM 654106103 1,030,887 16,481 SH   SOLE 0 16,481 0 0
Oaktree Capital COM 674001201 87,989 2,090 SH   SOLE 0 2,090 0 0
Old National Bancorp COM 680033107 1,272,178 72,904 SH   SOLE 0 72,904 0 0
ONEOK COM 682680103 4,379,177 81,930 SH   SOLE 0 81,930 0 0
Opus Bank COM 684000102 949,358 34,775 SH   SOLE 0 34,775 0 0
Parke Bancorp COM 700885106 947,889 46,126 SH   SOLE 0 46,126 0 0
Peoples Bancorp of NC COM 710577107 1,308,775 42,645 SH   SOLE 0 42,645 0 0
PetroQuest Energy COM 716748108 4,725 2,500 SH   SOLE 0 2,500 0 0
PetroQuest Energy CONV PREF 716748207 993,171 61,592 SH   SOLE 0 61,592 0 0
Pfizer COM 717081103 808,829 22,331 SH   SOLE 0 22,331 0 0
Phillips 66 Partners COM 718549207 2,734,048 52,226 SH   SOLE 0 52,226 0 0
Plains All American Pipeline COM 726503105 262,314 12,709 SH   SOLE 0 12,709 0 0
Procter & Gamble COM 742718109 1,665,233 18,124 SH   SOLE 0 18,124 0 0
RAIT Financial COM 749227609 20,456 54,550 SH   SOLE 0 54,550 0 0
Rice Midstream Partners COM 762819100 4,485,384 208,914 SH   SOLE 0 208,914 0 0
A. Schulmann CONV PREF 808194302 2,773,260 2,982 SH   SOLE 0 2,982 0 0
Shell Midstream COM 822634101 2,339,796 78,464 SH   SOLE 0 78,464 0 0
Southern National Bancorp COM 843395104 1,493,076 93,143 SH   SOLE 0 93,143 0 0
SunTrust Banks COM 867914103 645,461 9,993 SH   SOLE 0 9,993 0 0
Superior Industries COM 868168105 776,339 52,279 SH   SOLE 0 52,279 0 0
Timberland Bancorp COM 887098101 26,550 1,000 SH   SOLE 0 1,000 0 0
Toll Brothers COM 889478103 9,604 200 SH   SOLE 0 200 0 0
Triumph Group COM 896818101 1,034,688 38,040 SH   SOLE 0 38,040 0 0
Umpqua Holdings COM 904214103 20,800 1,000 SH   SOLE 0 1,000 0 0
Unisys Corp COM 909214306 526,083 64,550 SH   SOLE 0 64,550 0 0
United Bancshares COM 909458101 1,037,682 47,007 SH   SOLE 0 47,007 0 0
United Technologies COM 913017109 2,100,950 16,469 SH   SOLE 0 16,469 0 0
Wal-Mart COM 931142103 1,683,885 17,052 SH   SOLE 0 17,052 0 0
Williams Companies COM 969457100 2,519,051 82,619 SH   SOLE 0 82,619 0 0
Zions Bancorp COM 989701107 743,694 14,631 SH   SOLE 0 14,631 0 0
Zions Bancorp WARRANT 989701115 224,434 11,938 SH   SOLE 0 11,938 0 0
Travelers COM 89417e109 2,247,826 16,572 SH   SOLE 0 16,572 0 0
A T & T COM 00206r102 188,646 4,852 SH   SOLE 0 4,852 0 0
Aceto Corp CONV BOND 004446AD2 1,778,362 1,985,000 PRN   SOLE 0 1,985,000 0 0
Alaska Communications COM 01167p101 1,524,330 568,780 SH   SOLE 0 568,780 0 0
Alaska Communications CONV BOND 01167pae1 3,841,063 3,775,000 PRN   SOLE 0 3,775,000 0 0
Alliance Holdings COM 01861g100 3,964,840 147,997 SH   SOLE 0 147,997 0 0
Alliance Resource Partners COM 01877r108 65,010 3,300 SH   SOLE 0 3,300 0 0
Altria Group COM 02209s103 61,075 855 SH   SOLE 0 855 0 0
American Airlines Group COM 02376R102 735,028 14,127 SH   SOLE 0 14,127 0 0
AmeriServ Financial COM 03074a102 770,715 185,714 SH   SOLE 0 185,714 0 0
Andeavor Logistics COM 03350f106 1,979,657 42,859 SH   SOLE 0 42,859 0 0
Antero Midstream Partners COM 03673l103 2,857,943 98,414 SH   SOLE 0 98,414 0 0
Arcbest Corp COM 03937c105 1,147,484 32,097 SH   SOLE 0 32,097 0 0
Archrock Partners COM 03957u100 1,287,328 108,088 SH   SOLE 0 108,088 0 0
Atlas Air Worldwide Holdings CONV BOND 049164BH8 1,851,401 1,620,000 PRN   SOLE 0 1,620,000 0 0
BP Midstream Partners COM 0556EL109 1,653,519 80,385 SH   SOLE 0 80,385 0 0
Banc of California COM 05990k106 4,097,466 198,424 SH   SOLE 0 198,424 0 0
Broadsoft CONV BOND 11133BAB8 2,275,834 1,735,000 PRN   SOLE 0 1,735,000 0 0
Carlyle Group COM 14309l102 102,821 4,490 SH   SOLE 0 4,490 0 0
Cenveo COM 15670s105 2,711 3,012 SH   SOLE 0 3,012 0 0
Chesapeake Energy CONV BOND 165167CR6 910,625 1,000,000 PRN   SOLE 0 1,000,000 0 0
Cisco Systems COM 17275r102 684,804 17,880 SH   SOLE 0 17,880 0 0
Contura Energy COM 21241b100 617,552 10,400 SH   SOLE 0 10,400 0 0
Contura Energy WARRANT 21241b118 24,450 978 SH   SOLE 0 978 0 0
DR Horton COM 23331a109 12,768 250 SH   SOLE 0 250 0 0
Delek Logistics Partners COM 24664t103 2,149,387 67,804 SH   SOLE 0 67,804 0 0
DowDuPont COM 26078j100 1,234,808 17,338 SH   SOLE 0 17,338 0 0
EOG Resources COM 26875p101 32,913 305 SH   SOLE 0 305 0 0
Eagle Bancorp COM 26942g100 1,029,630 49,147 SH   SOLE 0 49,147 0 0
Emerge Energy Services COM 29102H108 6,112 850 SH   SOLE 0 850 0 0
Energy Transfer Partners COM 29273R109 121,121 6,759 SH   SOLE 0 6,759 0 0
Energy Transfer Equity COM 29273v100 221,366 12,825 SH   SOLE 0 12,825 0 0
EnLink Midstream COM 29336t100 1,194,496 67,869 SH   SOLE 0 67,869 0 0
EnLink Midstream LP COM 29336u107 3,341,008 217,372 SH   SOLE 0 217,372 0 0
Essa Bancorp COM 29667d104 1,008,302 64,346 SH   SOLE 0 64,346 0 0
EZCorp CONV BOND 302301AB2 3,636,631 3,535,000 PRN   SOLE 0 3,535,000 0 0
Exxon Mobil COM 30231g102 1,653,061 19,764 SH   SOLE 0 19,764 0 0
1st Constitution Bancorp. COM 31986n102 232,246 12,691 SH   SOLE 0 12,691 0 0
First United Corp COM 33741h107 1,271,435 73,071 SH   SOLE 0 73,071 0 0
First US Bancshares COM 33744v103 138,675 10,834 SH   SOLE 0 10,834 0 0
General Cable CONV BOND 369300al2 2,070,054 1,960,000 PRN   SOLE 0 1,960,000 0 0
Global Eagle Entertainment CONV BOND 37951DAB8 1,269,131 2,045,000 PRN   SOLE 0 2,045,000 0 0
Goldman Sachs COM 38141g104 4,214,749 16,544 SH   SOLE 0 16,544 0 0
Greenbriar CONV BOND 393657AH4 1,952,714 1,302,000 PRN   SOLE 0 1,302,000 0 0
HMN Financial COM 40424g108 954,523 49,975 SH   SOLE 0 49,975 0 0
Homestreet COM 43785u102 644,717 22,270 SH   SOLE 0 22,270 0 0
Horsehead Holdings WARRANT 44069P118 155,174 3,448 SH   SOLE 0 3,448 0 0
Invensense CONV BOND 46123DAB2 603,488 605,000 PRN   SOLE 0 605,000 0 0
Iridium Communications COM 46269c102 1,335,335 113,164 SH   SOLE 0 113,164 0 0
Iridium Communications CONV PREF 46269c409 1,250,940 3,000 SH   SOLE 0 3,000 0 0
Iridium Communications CONV PREF 46269c508 2,267,030 17,608 SH   SOLE 0 17,608 0 0
iShares 0-5 Yr High Yield COM 46434v407 443,022 9,400 SH   SOLE 0 9,400 0 0
JPMorgan Chase COM 46625h100 2,212,482 20,689 SH   SOLE 0 20,689 0 0
Jefferies Group CONV BOND 472319ag7 1,263,783 1,263,000 PRN   SOLE 0 1,263,000 0 0
Jones Energy COM 48019r108 1,175 1,068 SH   SOLE 0 1,068 0 0
Jones Energy CONV PREF 48019R207 15,750 600 SH   SOLE 0 600 0 0
KKR & Co COM 48248m102 102,668 4,875 SH   SOLE 0 4,875 0 0
KB HOME CONV BOND 48666KAS8 2,362,796 1,950,000 PRN   SOLE 0 1,950,000 0 0
Kimball Electronics COM 49428j109 1,349,861 73,965 SH   SOLE 0 73,965 0 0
LGI Homes COM 50187t106 22,509 300 SH   SOLE 0 300 0 0
MPLX COM 55336v100 3,409,239 96,116 SH   SOLE 0 96,116 0 0
Macquarie Infrastructure CONV BOND 55608BAB1 2,147,243 2,235,000 PRN   SOLE 0 2,235,000 0 0
Macy's COM 55616p104 10,076 400 SH   SOLE 0 400 0 0
Merck COM 58933y105 1,025,633 18,227 SH   SOLE 0 18,227 0 0
MutualFirst Financial COM 62845b104 1,219,220 31,627 SH   SOLE 0 31,627 0 0
NGL Energy Partners COM 62913M107 4,809,690 342,327 SH   SOLE 0 342,327 0 0
Navistar Intl CONV BOND 63934eaq1 1,887,546 1,840,000 PRN   SOLE 0 1,840,000 0 0
Peoples Financial COM 71103b102 1,089,478 83,806 SH   SOLE 0 83,806 0 0
Plains GP Holdings COM 72651a207 1,402,723 63,905 SH   SOLE 0 63,905 0 0
Premier Financial COM 74050m105 1,325,663 66,019 SH   SOLE 0 66,019 0 0
QCR Holdings COM 74727a104 4,756,152 110,995 SH   SOLE 0 110,995 0 0
QEP Resources COM 74733v100 14,355 1,500 SH   SOLE 0 1,500 0 0
RAIT Financial CONV BOND 749227AB0 428,970 465,000 PRN   SOLE 0 465,000 0 0
Rent-A-Center COM 76009n100 558,552 50,320 SH   SOLE 0 50,320 0 0
Royal Gold CONV BOND 780287AA6 1,029,268 950,000 PRN   SOLE 0 950,000 0 0
SB Financial Group COM 78408d105 3,386,989 183,180 SH   SOLE 0 183,180 0 0
SPDR S&P 600 Small Cap Value ETF COM 78464a300 568,677 4,523 SH   SOLE 0 4,523 0 0
SPDR Dow Jones Industrial Average COM 78467x109 8,691,938 35,136 SH   SOLE 0 35,136 0 0
SandRidge Energy WARRANT 80007p125 42 28 SH   SOLE 0 28 0 0
SandRidge Energy COM 80007p869 1,347,532 63,955 SH   SOLE 0 63,955 0 0
SemGroup COM 81663a105 72,691 2,407 SH   SOLE 0 2,407 0 0
Sterling Bancorp COM 85917a100 622,601 25,309 SH   SOLE 0 25,309 0 0
Summit Financial Group COM 86606g101 2,842,744 108,007 SH   SOLE 0 108,007 0 0
Sunpower CONV BOND 867652AJ8 1,212,334 1,580,000 PRN   SOLE 0 1,580,000 0 0
Sunpower Corp CONV BOND 867652AL3 850,625 1,000,000 PRN   SOLE 0 1,000,000 0 0
Targa Resources Corp COM 87612g101 3,554,673 73,413 SH   SOLE 0 73,413 0 0
3M Co. COM 88579y101 3,876,309 16,469 SH   SOLE 0 16,469 0 0
Titan Machinery CONV BOND 88830RAB7 2,327,777 2,352,000 PRN   SOLE 0 2,352,000 0 0
Transmontaigne Partners COM 89376v100 2,704,850 68,564 SH   SOLE 0 68,564 0 0
Two River Bancorp COM 90207c105 1,094,736 60,383 SH   SOLE 0 60,383 0 0
United Community Banks COM 90984p303 6,191 220 SH   SOLE 0 220 0 0
UnitedHealth Group COM 91324p102 3,694,689 16,759 SH   SOLE 0 16,759 0 0
Uniti Group COM 91325v108 625,407 35,155 SH   SOLE 0 35,155 0 0
Vaalco Energy COM 91851c201 121,993 175,000 SH   SOLE 0 175,000 0 0
Verizon Communications COM 92343v104 1,001,012 18,912 SH   SOLE 0 18,912 0 0
Visa Inc COM 92826c839 1,890,452 16,580 SH   SOLE 0 16,580 0 0
Williams Partners COM 96949L105 3,735,406 96,323 SH   SOLE 0 96,323 0 0
Wintrust Financial COM 97650w108 2,557,094 31,044 SH   SOLE 0 31,044 0 0
WPX Energy COM 98212b103 65,139 4,630 SH   SOLE 0 4,630 0 0
Xerium Technologies COM 98416j118 328,244 77,052 SH   SOLE 0 77,052 0 0
Aircastle LTD COM g0129k104 1,762,717 75,362 SH   SOLE 0 75,362 0 0
Bunge CONV PREF g16962204 2,175,268 20,908 SH   SOLE 0 20,908 0 0
Seagate Technology COM G7945M107 16,736 400 SH   SOLE 0 400 0 0
Genco Shipping WARRANT y2685t123 21,071 62,155 SH   SOLE 0 62,155 0 0
Genco Shipping COM y2685t131 318,218 23,890 SH   SOLE 0 23,890 0 0
Navios Maritime Acquisition COM y62159101 12,210 11,000 SH   SOLE 0 11,000 0 0
Navios Maritime Holdings COM y62196103 417,348 347,790 SH   SOLE 0 347,790 0 0
Navios Maritime Partners COM y62267102 21,476 9,100 SH   SOLE 0 9,100 0 0
Teekay LNG Partners COM y8564m105 2,943,190 146,064 SH   SOLE 0 146,064 0 0
Teekay COM y8564w103 1,493,912 160,291 SH   SOLE 0 160,291 0 0
Teekay Offshore Partners COM y8565j101 22,319 9,457 SH   SOLE 0 9,457 0 0
Teekay Tankers COM y8565n102 14,000 10,000 SH   SOLE 0 10,000 0 0
Apollo Global Management COM 037612306 126,684 3,785 SH   SOLE 0 3,785 0 0