RBF Capital 13F-HR Quarterly holdings report by institutional manager

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

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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. H. BELO CORPORATION CMN SERIES A	Common Stock	001282102	101	20,485	SH		SOLE		20,485	0	0
ACCURIDE CORP CMN	Common Stock	00439T206	47	17,025	SH		SOLE		17,025	0	0
ACI WORLDWIDE INC CMN	Common Stock	004498101	253	12,000	SH		SOLE		12,000	0	0
ACXIOM CORP CMN	Common Stock	005125109	198	10,000	SH		SOLE		10,000	0	0
AEP INDUSTRIES INC CMN	Common Stock	001031103	2,121	37,000	SH		SOLE		37,000	0	0
AETNA INC CMN	Common Stock	00817Y108	1,094	10,000	SH		SOLE		10,000	0	0
AGILYSYS INC CMN	Common Stock	00847J105	250	22,505	SH		SOLE		22,505	0	0
AK STEEL HOLDING CORP CMN	Common Stock	001547108	72	30,000	SH		SOLE		30,000	0	0
ALASKA COMMUNICATIONS SYSTEMS GROUP INC.	Common Stock	01167P101	657	300,000	SH		SOLE		300,000	0	0
ALLIANCE ONE INTERNATIONAL, IN*C. CMN	MLP	018772301	1,868	91,636	SH		SOLE		91,636	0	0
ALLIANCEBERNSTEIN HOLDING LP CMN	MLP	01881G106	1,824	68,568	SH		SOLE		68,568	0	0
AMAYA INC. CMN	ADR	02314M108	182	10,000	SH		SOLE		10,000	0	0
AMEC FOSTER WHEELER PLC SPONSORED ADR	ADR	00167X205	118	10,797	SH		SOLE		10,797	0	0
AMERCO CMN	Common Stock	023586100	1,102	2,800	SH		SOLE		2,800	0	0
AMERICAN CAMPUS CMNTYS, INC CMN	Common Stock	024835100	362	10,000	SH		SOLE		10,000	0	0
AMERICAN EXPRESS CO. CMN	Common Stock	025816109	1,112	15,000	SH		SOLE		15,000	0	0
AMERICAN INTL GROUP, INC. CMN	Common Stock	026874784	6,250	110,000	SH		SOLE		110,000	0	0
AMERICAN TOWER CORPORATION CMN	REIT	03027X100	1,760	20,000	SH		SOLE		20,000	0	0
AMPCO PITTSBURG CORP CMN	Common Stock	032037103	1,091	100,000	SH		SOLE		100,000	0	0
ANHEUSER-BUSCH INBEV S.A. SPONSORED ADR CMN	ADR	03524A108	319	3,000	SH		SOLE		3,000	0	0
AON PLC CMN	Common Stock	G0408V102	532	6,000	SH		SOLE		6,000	0	0
APOGEE ENTERPRISES INC CMN	Common Stock	037598109	223	5,000	SH		SOLE		5,000	0	0
APOLLO EDUCATION GROUP, INC CMN CLASS A	Common Stock	037604105	119	10,750	SH		SOLE		10,750	0	0
APOLLO GLOBAL MANAGEMENT, LLC CMN CLASS A	MLP	037612306	172	10,000	SH		SOLE		10,000	0	0
ARROW ELECTRONICS INC. CMN	Common Stock	042735100	553	10,000	SH		SOLE		10,000	0	0
ASPEN AEROGELS, INC. CMN	Common Stock	04523Y105	188	25,000	SH		SOLE		25,000	0	0
ASPEN INSURANCE HOLDINGS LTD CMN	Common Stock	G05384105	1,162	25,000	SH		SOLE		25,000	0	0
ASTA FUNDING INC CMN	Common Stock	046220109	2,918	342,107	SH		SOLE		342,107	0	0
ASTROSYSTEMS INC IN LIQUIDTN CMN	Common Stock	046465100	0	79,200	SH		SOLE		79,200	0	0
ATA INC ADR	ADR	00211V106	65	25,700	SH		SOLE		25,700	0	0
AUTODESK INC CMN	Common Stock	052769106	441	10,000	SH		SOLE		10,000	0	0
AVNET INC. CMN	Common Stock	053807103	640	15,000	SH		SOLE		15,000	0	0
AXIS CAPITAL HOLDINGS, LTD. CMN	Common Stock	G0692U109	269	5,000	SH		SOLE		5,000	0	0
BAKER HUGHES INC CMN	Common Stock	057224107	729	14,000	SH		SOLE		14,000	0	0
BANK OF AMERICA CORP CMN	Common Stock	060505104	11,841	760,000	SH		SOLE		760,000	0	0
BANK OF MARIN BANCORP CMN	Common Stock	063425102	242	5,046	SH		SOLE		5,046	0	0
BARCLAYS BK PLC-IPATH S&P 500 *VIX S-T FUTURES ETN NEW 2013 FUTURES ETN NEW 2013 ETN	ETP	06742E711	715	27,885	SH		SOLE		27,885	0	0
BEASLEY BROADCAST GROUP INC CMN CLASS A	Common Stock	074014101	122	32,469	SH		SOLE		32,469	0	0
BEL FUSE INC CL-B CMN CLASS B	Common Stock	077347300	410	21,088	SH		SOLE		21,088	0	0
BENCHMARK ELECTRONICS INC CMN	Common Stock	08160H101	218	10,000	SH		SOLE		10,000	0	0
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A	Common Stock	084670108	42,562	218	SH		SOLE		218	0	0
BLACKROCK, INC. CMN	Common Stock	09247X101	1,190	4,000	SH		SOLE		4,000	0	0
BLOUNT INTL INC NEW COM STK	Common Stock	095180105	125	22,500	SH		SOLE		22,500	0	0
BP P.L.C. SPONSORED ADR CMN	ADR	055622104	764	25,000	SH		SOLE		25,000	0	0
BROADWIND ENERGY INC. CMN	Common Stock	11161T207	285	137,894	SH		SOLE		137,894	0	0
BRUNSWICK CORP. CMN	Common Stock	117043109	239	5,000	SH		SOLE		5,000	0	0
C D I CORP CMN	Common Stock	125071100	296	34,583	SH		SOLE		34,583	0	0
CAMBREX CORPORATION CMN	Common Stock	132011107	397	10,000	SH		SOLE		10,000	0	0
CAMPBELL SOUP CO CMN	Common Stock	134429109	507	10,000	SH		SOLE		10,000	0	0
CAMPUS CREST COMMUNITIES, INC. CMN	Common Stock	13466Y105	80	15,000	SH		SOLE		15,000	0	0
CAPITAL ONE FINANCIAL CORP CMN	Common Stock	14040H105	1,450	20,000	SH		SOLE		20,000	0	0
CAREER EDUCATION CORP CMN	Common Stock	141665109	150	40,000	SH		SOLE		40,000	0	0
CARRIAGE SERVICES, INC. CMN	Common Stock	143905107	4,235	196,157	SH		SOLE		196,157	0	0
CARROLS RESTAURANT GROUP INC CMN	Common Stock	14574X104	2,582	217,000	SH		SOLE		217,000	0	0
CATERPILLAR INC (DELAWARE) CMN	Common Stock	149123101	850	13,000	SH		SOLE		13,000	0	0
CECO ENVIRONMENTAL CORP CMN	Common Stock	125141101	387	47,293	SH		SOLE		47,293	0	0
CENTRAL GARDEN & PET CO CMN	Common Stock	153527106	1,222	78,967	SH		SOLE		78,967	0	0
CENTRAL GARDEN & PET COMPANY CMN CLASS A NON VOTING SHARES	Common Stock	153527205	528	32,764	SH		SOLE		32,764	0	0
CENTURY BANCORP INC CL-A NON VTG CLASS A	Common Stock	156432106	204	5,000	SH		SOLE		5,000	0	0
CENTURY CASINOS INC CMN	Common Stock	156492100	615	100,000	SH		SOLE		100,000	0	0
CENVEO INC CMN	Common Stock	15670S105	1,399	744,301	SH		SOLE		744,301	0	0
CF INDUSTRIES HOLDINGS, INC. CMN	Common Stock	125269100	449	10,000	SH		SOLE		10,000	0	0
CITIZENS FINANCIAL GROUP INC CMN	Common Stock	174610105	2,983	125,000	SH		SOLE		125,000	0	0
CIVEO CORP CMN	Common Stock	178787107	92	62,300	SH		SOLE		62,300	0	0
CNINSURE INC SPONSORED ADR CMN	ADR	18976M103	1,869	244,263	SH		SOLE		244,263	0	0
CNO FINANCIAL GROUP INC CMN	Common Stock	12621E103	5,643	300,000	SH		SOLE		300,000	0	0
CNX COAL RESOURCES LP CMN	MLP	12592V100	190	16,900	SH		SOLE		16,900	0	0
COCA-COLA COMPANY (THE) CMN	Common Stock	191216100	5,617	140,000	SH		SOLE		140,000	0	0
COGENT COMMUNICATIONS HLDGS CMN	Common Stock	19239V302	543	20,000	SH		SOLE		20,000	0	0
COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	Common Stock	192446102	2,567	41,000	SH		SOLE		41,000	0	0
COMMUNITIES FIRST FINL CORP CMN	Common Stock	20344D104	579	55,125	SH		SOLE		55,125	0	0
COMMUNITY HEALTH SYS INC CMN	Common Stock	203668108	599	14,000	SH		SOLE		14,000	0	0
COMPUTER TASK GROUP, INC. CMN	Common Stock	205477102	95	15,386	SH		SOLE		15,386	0	0
CONSOL ENERGY INC. CMN	Common Stock	20854P109	375	38,262	SH		SOLE		38,262	0	0
CONSUMER PORTFOLIO SVCS INC CMN	Common Stock	210502100	299	60,000	SH		SOLE		60,000	0	0
CONTINENTAL MATERIALS CORP CMN	Common Stock	211615307	399	26,190	SH		SOLE		26,190	0	0
COVISINT CORPORATION CMN	Common Stock	22357R103	96	44,713	SH		SOLE		44,713	0	0
COWEN GROUP, INC. CMN	Common Stock	223622101	586	128,434	SH		SOLE		128,434	0	0
CROCS, INC. CMN	Common Stock	227046109	386	29,887	SH		SOLE		29,887	0	0
CSG SYSTEMS INTL INC CMN	Common Stock	126349109	925	30,032	SH		SOLE		30,032	0	0
CTRIP.COM INTERNATIONAL, LTD. ADR CMN	ADR	22943F100	379	6,000	SH		SOLE		6,000	0	0
CULP INC CMN	Common Stock	230215105	321	10,000	SH		SOLE		10,000	0	0
CVS HEALTH CORP CMN	Common Stock	126650100	4,824	50,000	SH		SOLE		50,000	0	0
DANA HOLDING CORPORATION CMN	Common Stock	235825205	476	30,000	SH		SOLE		30,000	0	0
DATALINK CORP CMN	Common Stock	237934104	60	10,000	SH		SOLE		10,000	0	0
DELUXE CORP CMN	Common Stock	248019101	557	10,000	SH		SOLE		10,000	0	0
DENBURY RESOURCES INC CMN	Common Stock	247916208	2,096	859,066	SH		SOLE		859,066	0	0
DESTINATION MATERNITY CORPORAT*ION CMN	Common Stock	25065D100	495	53,700	SH		SOLE		53,700	0	0
DESWELL INDUSTRIES INC CMN	Common Stock	250639101	46	30,000	SH		SOLE		30,000	0	0
DGT HLDGS CORP CMN	Common Stock	23328R206	350	20,000	SH		SOLE		20,000	0	0
DHT HOLDINGS INC CMN	Common Stock	Y2065G121	674	90,835	SH		SOLE		90,835	0	0
DIANA SHIPPING INC CMN	Common Stock	Y2066G104	254	39,239	SH		SOLE		39,239	0	0
DISCOVER FINANCIAL SERVICES CMN	Common Stock	254709108	785	15,100	SH		SOLE		15,100	0	0
DOVER DOWNS GAMING & ENTMT INC CMN	Common Stock	260095104	175	174,713	SH		SOLE		174,713	0	0
DOVER MOTORSPORTS INC CMN	Common Stock	260174107	172	74,663	SH		SOLE		74,663	0	0
DST SYSTEM INC COMMON STOCK	Common Stock	233326107	946	9,000	SH		SOLE		9,000	0	0
E*TRADE FINANCIAL CORPORATION CMN	Common Stock	269246401	263	10,000	SH		SOLE		10,000	0	0
EASTERN VA BANKSHARES INC CMN	Common Stock	277196101	254	37,642	SH		SOLE		37,642	0	0
EBAY INC. CMN	Common Stock	278642103	1,124	45,979	SH		SOLE		45,979	0	0
EDCI HLDGS INC CMN	Common Stock	268315207	65	174,500	SH		SOLE		174,500	0	0
ELECTRO RENT CORP CMN	Common Stock	285218103	357	34,431	SH		SOLE		34,431	0	0
EMC CORP MASS COM STK	Common Stock	268648102	290	12,000	SH		SOLE		12,000	0	0
EMPLOYEE SOLUTIONS INC CMN	Common Stock	292166105	145	17,800	SH		SOLE		17,800	0	0
ENCORE CAPITAL GROUP INC CMN	Common Stock	292554102	222	6,000	SH		SOLE		6,000	0	0
ENDURANCE SPECIALTY HLDGS LTD CMN	Common Stock	G30397106	1,526	25,000	SH		SOLE		25,000	0	0
ENGLOBAL CORPORATION CMN	Common Stock	293306106	164	158,168	SH		SOLE		158,168	0	0
ENTEGRIS, INC. CMN	Common Stock	29362U104	132	10,000	SH		SOLE		10,000	0	0
ENTERCOM COMMS. CORP CLASS A COMMON STOCK	Common Stock	293639100	102	10,000	SH		SOLE		10,000	0	0
ENTRAVISION COMMUNICATIONS CP CMN CLASS A	Common Stock	29382R107	3,326	500,977	SH		SOLE		500,977	0	0
ENVIVIO INC COM STK	Common Stock	29413T106	181	44,200	SH		SOLE		44,200	0	0
EQUIFAX INC CMN	Common Stock	294429105	972	10,000	SH		SOLE		10,000	0	0
ERICKSON INC CMN	Common Stock	29482P100	80	25,522	SH		SOLE		25,522	0	0
EVEREST RE GROUP LTD CMN	Common Stock	G3223R108	867	5,000	SH		SOLE		5,000	0	0
EXPRESS, INC. CMN	Common Stock	30219E103	223	12,502	SH		SOLE		12,502	0	0
FACEBOOK, INC. CMN CLASS A	Common Stock	30303M102	7,794	86,700	SH		SOLE		86,700	0	0
FAIR ISAAC INC CMN	Common Stock	303250104	1,690	20,000	SH		SOLE		20,000	0	0
FANNIE MAE COMMON STOCK CMN	Common Stock	313586109	191	85,000	SH		SOLE		85,000	0	0
FEDERATED NATL HLDG CO CMN	Common Stock	31422T101	601	25,000	SH		SOLE		25,000	0	0
FENIX PARTS INC CMN	Common Stock	31446L100	401	60,000	SH		SOLE		60,000	0	0
FIESTA RESTAURANT GROUP, INC. CMN	Common Stock	31660B101	6,806	150,000	SH		SOLE		150,000	0	0
FIRST CHOICE BANK CMN	Common Stock	319461109	1,318	85,000	SH		SOLE		85,000	0	0
FIRST CMNTY CORP S C CMN	Common Stock	319835104	867	70,000	SH		SOLE		70,000	0	0
FIRST OF LONG ISLAND CORP CMN	Common Stock	320734106	284	10,500	SH		SOLE		10,500	0	0
FIRSTMERIT CORP CMN	Common Stock	337915102	2,024	114,533	SH		SOLE		114,533	0	0
FIVE STAR QUALITY CARE INC CMN	Common Stock	33832D106	546	176,590	SH		SOLE		176,590	0	0
FLAGSTAR BANCORP, INC. CMN	Common Stock	337930705	308	15,000	SH		SOLE		15,000	0	0
FLEXSTEEL INDUSTRIES INC CMN	Common Stock	339382103	1,719	55,000	SH		SOLE		55,000	0	0
FLUSHING FINANCIAL CORPORATION CMN	Common Stock	343873105	220	10,983	SH		SOLE		10,983	0	0
FREDDIE MAC CMN	Common Stock	313400301	330	150,000	SH		SOLE		150,000	0	0
FRIEDMAN INDS INC CMN	Common Stock	358435105	87	14,449	SH		SOLE		14,449	0	0
FTD COMPANIES, INC. CMN	Common Stock	30281V108	1,192	40,000	SH		SOLE		40,000	0	0
FURMANITE CORPORATION CMN	Common Stock	361086101	543	89,275	SH		SOLE		89,275	0	0
GANNETT CO, INC. CMN	Common Stock	36473H104	368	25,000	SH		SOLE		25,000	0	0
GENCOR INDUSTRIES INC CMN	Common Stock	368678108	549	60,758	SH		SOLE		60,758	0	0
GIBRALTAR INDUSTRIES INC CMN	Common Stock	374689107	2,569	140,000	SH		SOLE		140,000	0	0
GLOBAL SOURCES LIMITED CMN ISIN: BMG393001018	Common Stock	G39300105	243	29,217	SH		SOLE		29,217	0	0
GLOBALSCAPE INC COM STK	Common Stock	37940G109	127	38,712	SH		SOLE		38,712	0	0
GOLDMAN SACHS GROUP, INC.(THE) CMN	Common Stock	38141G104	4,692	27,000	SH		SOLE		27,000	0	0
GOOGLE INC. CMN CLASS A	Common Stock	38259P508	1,596	2,500	SH		SOLE		2,500	0	0
GOOGLE INC. CMN CLASS C	Common Stock	38259P706	6,997	11,500	SH		SOLE		11,500	0	0
GORDMANS STORES, INC. CMN	Common Stock	38269P100	48	13,601	SH		SOLE		13,601	0	0
GRAPHIC PACKAGING HLDGCO CMN	Common Stock	388689101	349	27,286	SH		SOLE		27,286	0	0
GUIDANCE SOFTWARE INC. CMN	Common Stock	401692108	243	40,300	SH		SOLE		40,300	0	0
GULF ISLAND FABRICATION INC CMN	Common Stock	402307102	316	30,000	SH		SOLE		30,000	0	0
H & R BLOCK INC. CMN	Common Stock	093671105	724	20,000	SH		SOLE		20,000	0	0
H&E EQUIPMENT SERVICES INC CMN	Common Stock	404030108	461	27,600	SH		SOLE		27,600	0	0
HALLIBURTON COMPANY CMN	Common Stock	406216101	315	8,900	SH		SOLE		8,900	0	0
HANGER INC CMN	Common Stock	41043F208	300	22,000	SH		SOLE		22,000	0	0
HANMI FINANCIAL CORPORATION CMN	Common Stock	410495204	1,890	75,000	SH		SOLE		75,000	0	0
HARDINGE INC. COMMON STOCK	Common Stock	412324303	642	70,000	SH		SOLE		70,000	0	0
HAWTHORN BANCSHARES INC CMN	Common Stock	420476103	405	28,987	SH		SOLE		28,987	0	0
HCA HOLDINGS, INC. CMN	Common Stock	40412C101	5,802	75,000	SH		SOLE		75,000	0	0
HEALTH NET, INC. CMN	Common Stock	42222G108	2,409	40,000	SH		SOLE		40,000	0	0
HERTZ GLOBAL HOLDINGS, INC. CMN	Common Stock	42805T105	251	15,000	SH		SOLE		15,000	0	0
HIGHER ONE HOLDINGS, INC. CMN	Common Stock	42983D104	1,790	908,700	SH		SOLE		908,700	0	0
HOLLYFRONTIER CORP CMN	Common Stock	436106108	987	20,214	SH		SOLE		20,214	0	0
HOLLYWOOD MEDIA CORP. CMN	Common Stock	436233100	156	229,449	SH		SOLE		229,449	0	0
HOOPER HOLMES INC CMN	Common Stock	439104100	68	596,395	SH		SOLE		596,395	0	0
HORACE MANN EDUCATORS CORP CMN	Common Stock	440327104	332	10,000	SH		SOLE		10,000	0	0
HORMEL FOODS CORP CMN	Common Stock	440452100	633	10,000	SH		SOLE		10,000	0	0
HRG GROUP INC CMN	Common Stock	40434J100	2,346	200,000	SH		SOLE		200,000	0	0
HUBBELL INCORPORATED CLASS B CMN CLASS B	Common Stock	443510201	382	4,500	SH		SOLE		4,500	0	0
HUDSON GLOBAL, INC. CMN	Common Stock	443787106	37	15,000	SH		SOLE		15,000	0	0
HUNTINGTON BANCSHARES INCORPOR*ATED CMN	Common Stock	446150104	1,512	142,600	SH		SOLE		142,600	0	0
HUTTIG BUILDING PRODUCTS INC CMN	Common Stock	448451104	1,765	566,276	SH		SOLE		566,276	0	0
INDEPENDENCE HOLDING COMPANY (NEW)	Common Stock	453440307	194	15,000	SH		SOLE		15,000	0	0
INDEPENDENT BANK CORP MASS CMN	Common Stock	453836108	1,383	30,000	SH		SOLE		30,000	0	0
INFUSYSTEM HOLDINGS, INC. CMN	Common Stock	45685K102	2,783	1,008,255	SH		SOLE		1,008,255	0	0
INTEGRATED ELECTRICAL SVC INC CMN	Common Stock	45811E301	232	30,000	SH		SOLE		30,000	0	0
INTERNATIONAL SHIPHOLDING CORP COM STK	Common Stock	460321201	48	12,600	SH		SOLE		12,600	0	0
INTERTAPE POLYMER GROUP INC CMN	Common Stock	460919103	748	69,980	SH		SOLE		69,980	0	0
INVESCO LTD. CMN	Common Stock	G491BT108	468	15,000	SH		SOLE		15,000	0	0
INVESTORS TITLE CO CMN	Common Stock	461804106	286	4,000	SH		SOLE		4,000	0	0
ISHARES CORE S&P 500 ETF CMN	ETP	464287200	2,647	13,735	SH		SOLE		13,735	0	0
ISHARES RUSSELL 2000 VALUE ETF	ETP	464287630	207	2,300	SH		SOLE		2,300	0	0
J.C. PENNEY CO INC (HLDNG CO) CMN	Common Stock	708160106	186	20,000	SH		SOLE		20,000	0	0
JARDEN CORPORATION CMN	Common Stock	471109108	220	4,500	SH		SOLE		4,500	0	0
JONES LANG LASALLE INC CMN	Common Stock	48020Q107	1,078	7,500	SH		SOLE		7,500	0	0
JPMORGAN CHASE & CO CMN	Common Stock	46625H100	3,109	51,000	SH		SOLE		51,000	0	0
KELLY SERVICES INC(CL-A) CMN CLASS A	Common Stock	488152208	937	66,280	SH		SOLE		66,280	0	0
KEMET CORPORATION CMN	Common Stock	488360207	43	23,400	SH		SOLE		23,400	0	0
KROGER COMPANY CMN	Common Stock	501044101	1,082	30,000	SH		SOLE		30,000	0	0
LAKE SUNAPEE BK GROUP CMN	Common Stock	510866106	2,672	183,765	SH		SOLE		183,765	0	0
LANDAUER INC CMN	Common Stock	51476K103	740	19,998	SH		SOLE		19,998	0	0
LANNETT COMPANY, INC. CMN	Common Stock	516012101	1,661	40,000	SH		SOLE		40,000	0	0
LEAPFROG ENTERPRISES INC CL A COM STK	Common Stock	52186N106	43	60,700	SH		SOLE		60,700	0	0
LEAR CORPORATION CMN	Common Stock	521865204	1,255	11,537	SH		SOLE		11,537	0	0
LIBBEY INC. CMN	Common Stock	529898108	326	10,000	SH		SOLE		10,000	0	0
LINCOLN EDL SERVICES CORP CMN	Common Stock	533535100	159	312,143	SH		SOLE		312,143	0	0
LIQUIDITY SERVICES INC CMN	Common Stock	53635B107	93	12,600	SH		SOLE		12,600	0	0
LKQ CORPORATION CMN	Common Stock	501889208	2,836	100,000	SH		SOLE		100,000	0	0
LSI INDUSTRIES INC CMN	Common Stock	50216C108	373	44,231	SH		SOLE		44,231	0	0
LUCAS ENERGY, INC. CMN	Common Stock	549333201	59	27,292	SH		SOLE		27,292	0	0
LYONDELLBASELL INDUSTRIES N.V. CMN CLASS A	Common Stock	N53745100	1,667	20,000	SH		SOLE		20,000	0	0
MANPOWER GROUP CMN	Common Stock	56418H100	246	3,000	SH		SOLE		3,000	0	0
MARCHEX INC CMN CLASS B	Common Stock	56624R108	512	127,100	SH		SOLE		127,100	0	0
MARSH & MCLENNAN CO INC CMN	Common Stock	571748102	1,044	20,000	SH		SOLE		20,000	0	0
MASTERCARD INCORPORATED CMN CLASS A	Common Stock	57636Q104	6,399	71,000	SH		SOLE		71,000	0	0
MCGRAW-HILL COMPANIES INC CMN	Common Stock	580645109	4,325	50,000	SH		SOLE		50,000	0	0
MEDNAX INC CMN	Common Stock	58502B106	553	7,200	SH		SOLE		7,200	0	0
MENS WEARHOUSE INC (THE) CMN	Common Stock	587118100	3,827	90,000	SH		SOLE		90,000	0	0
MFC INDL LTD COM	Common Stock	55278T105	105	36,570	SH		SOLE		36,570	0	0
MFRI INC CMN	Common Stock	552721102	63	12,226	SH		SOLE		12,226	0	0
MICROSOFT CORPORATION CMN	Common Stock	594918104	299	6,760	SH		SOLE		6,760	0	0
MICROSTRATEGY INCORPORATED CMN CLASS A	Common Stock	594972408	491	2,500	SH		SOLE		2,500	0	0
MIND CTI LTD YOQNEAM COM STK	Common Stock	M70240102	105	38,357	SH		SOLE		38,357	0	0
MITCHAM INDS INC CMN	Common Stock	606501104	606	160,292	SH		SOLE		160,292	0	0
MONDELEZ INTERNATIONAL, INC. CMN	Common Stock	609207105	2,512	60,000	SH		SOLE		60,000	0	0
MONSTER WORLDWIDE INC. CMN	Common Stock	611742107	2,963	461,600	SH		SOLE		461,600	0	0
MORGAN STANLEY CMN	Common Stock	617446448	20,003	635,000	SH		SOLE		635,000	0	0
MOVADO GROUP INC CMN	Common Stock	624580106	258	10,000	SH		SOLE		10,000	0	0
MSCI INC. CMN	Common Stock	55354G100	1,189	20,000	SH		SOLE		20,000	0	0
MUELLER WATER PRODUCTS, INC. CMN SERIES A	Common Stock	624758108	1,041	135,855	SH		SOLE		135,855	0	0
NASDAQ INC. CMN	Common Stock	631103108	533	10,000	SH		SOLE		10,000	0	0
NATHANS FAMOUS INC CMN	Common Stock	632347100	266	7,000	SH		SOLE		7,000	0	0
NATL WESTN LIFE INS CO CL-A CMN CLASS A	Common Stock	638522102	334	1,500	SH		SOLE		1,500	0	0
NCI BUILDING SYSTEMS, INC. CMN	Common Stock	628852204	725	68,550	SH		SOLE		68,550	0	0
NESTLE SA SPONSORED ADR (REP 1/20 CHF 10 REGD SHS)	ADR	641069406	487	6,500	SH		SOLE		6,500	0	0
NEW YORK & COMPANY, INC. CMN	Common Stock	649295102	99	39,734	SH		SOLE		39,734	0	0
NICHOLAS FINANCIAL, INC. CMN	Common Stock	65373J209	389	30,000	SH		SOLE		30,000	0	0
NIKE CLASS-B CMN CLASS B	Common Stock	654106103	246	2,000	SH		SOLE		2,000	0	0
NN INC CMN	Common Stock	629337106	185	10,000	SH		SOLE		10,000	0	0
NORTHERN TRUST CORP CMN	Common Stock	665859104	470	6,900	SH		SOLE		6,900	0	0
OAKTREE CAPITAL GROUP, LLC CMN	MLP	674001201	495	10,000	SH		SOLE		10,000	0	0
OMNICOM GROUP CMN	Common Stock	681919106	659	10,000	SH		SOLE		10,000	0	0
OPTICAL CABLE CORP CMN	Common Stock	683827208	106	32,496	SH		SOLE		32,496	0	0
OWENS RLTY MORTGAGE INC CMN	Common Stock	690828108	413	30,000	SH		SOLE		30,000	0	0
PAPA JOHN'S INTERNATIONAL INC. CMN	Common Stock	698813102	274	4,000	SH		SOLE		4,000	0	0
PAR TECHNOLOGY CORP CMN	Common Stock	698884103	374	70,685	SH		SOLE		70,685	0	0
PARKWAY PROPERTIES INC MD CMN	REIT	70159Q104	892	57,330	SH		SOLE		57,330	0	0
PARTNERRE LTD BERMUDA CMN	Common Stock	G6852T105	4,611	33,200	SH		SOLE		33,200	0	0
PATTERSON-UTI ENERGY, INC. ORD CMN	Common Stock	703481101	526	40,000	SH		SOLE		40,000	0	0
PAYPAL HOLDINGS INC CMN	Common Stock	70450Y103	1,272	40,979	SH		SOLE		40,979	0	0
PENTAIR PLC. CMN	Common Stock	H6169Q108	306	6,000	SH		SOLE		6,000	0	0
PEP BOYS MANNY-MOE &JACK CMN	Common Stock	713278109	196	16,048	SH		SOLE		16,048	0	0
PEPSICO INC CMN	Common Stock	713448108	18,860	200,000	SH		SOLE		200,000	0	0
PERCEPTRON INC CMN	Common Stock	71361F100	578	76,103	SH		SOLE		76,103	0	0
PERFORMANT FINANCIAL CORP CMN	ADR	71377E105	363	150,000	SH		SOLE		150,000	0	0
PGT INC CMN	Common Stock	69336V101	798	65,000	SH		SOLE		65,000	0	0
PHH CORPORATION CMN	Common Stock	693320202	1,624	115,000	SH		SOLE		115,000	0	0
PHILIP MORRIS INTL INC CMN	Common Stock	718172109	476	6,000	SH		SOLE		6,000	0	0
PHILLIPS 66 CMN	Common Stock	718546104	3,842	50,000	SH		SOLE		50,000	0	0
PHOENIX COMPANIES INC. (THE) CMN	Common Stock	71902E604	1,808	54,810	SH		SOLE		54,810	0	0
PLANET PAYMENT INC CMN	Common Stock	U72603118	214	75,714	SH		SOLE		75,714	0	0
PNC FINANCIAL SERVICES GROUP CMN	Common Stock	693475105	1,338	15,000	SH		SOLE		15,000	0	0
PPG INDUSTRIES, INC. CMN	Common Stock	693506107	1,929	22,000	SH		SOLE		22,000	0	0
PRGX GLOBAL INC CMN CLASS	Common Stock	69357C503	867	230,000	SH		SOLE		230,000	0	0
PRIMEENERGY CORP CMN	Common Stock	74158E104	365	5,615	SH		SOLE		5,615	0	0
PROSHARES ULTRA BLOOMBERG CRUDE OIL	ETP	74347W320	422	18,623	SH		SOLE		18,623	0	0
PSYCHEMEDICS CORPORATION CMN	Common Stock	744375205	789	78,495	SH		SOLE		78,495	0	0
PULTEGROUP INC. CMN	Common Stock	745867101	944	50,000	SH		SOLE		50,000	0	0
QC HOLDINGS, INC. CMN	Common Stock	74729T101	24	14,660	SH		SOLE		14,660	0	0
RAIT FINANCIAL TRUST CMN	REIT	749227609	149	30,000	SH		SOLE		30,000	0	0
RCM TECHNOLOGIES INC CMN	Common Stock	749360400	98	20,000	SH		SOLE		20,000	0	0
REALOGY HLDGS CORP CMN	Common Stock	75605Y106	2,811	74,700	SH		SOLE		74,700	0	0
RENAISSANCE RE HOLDINGS LTD CMN	Common Stock	G7496G103	3,584	33,708	SH		SOLE		33,708	0	0
RENT-A-CENTER INC CMN	Common Stock	76009N100	243	10,000	SH		SOLE		10,000	0	0
RESOURCE AMERICA INC CL-A CMN CLASS A	Common Stock	761195205	407	61,273	SH		SOLE		61,273	0	0
ROCKWELL AUTOMATION INC CMN	Common Stock	773903109	304	3,000	SH		SOLE		3,000	0	0
ROYAL BANK OF SCOTLAND GROUP P*LC (THE) SPONSORED ADR CMN	ADR	780097689	1,240	130,000	SH		SOLE		130,000	0	0
ROYAL DUTCH SHELL PLC SPONSORED ADR CMN SERIES A	ADR	780259206	820	17,300	SH		SOLE		17,300	0	0
RPM INTERNATIONAL INC CMN	Common Stock	749685103	1,244	29,700	SH		SOLE		29,700	0	0
RTS/COMMUNITY HEALTH SYSTEMS, INC. EXP04/01/2016	Right	203668116	0	30,000	SH		SOLE		30,000	0	0
SAFE BULKERS INC CMN	Common Stock	Y7388L103	75	27,080	SH		SOLE		27,080	0	0
SALEM COMMUNICATIONS CORP DEL CMN CLASS A	Common Stock	794093104	123	20,045	SH		SOLE		20,045	0	0
SANMINA-SCI CORPORATION CMN	Common Stock	801056102	214	10,000	SH		SOLE		10,000	0	0
SCHOOL SPECIALTY, INC. CMN	Common Stock	807864103	1,940	22,221	SH		SOLE		22,221	0	0
SED INTERNATIONAL HLDGS INC CMN	Common Stock	784109209	1	10,000	SH		SOLE		10,000	0	0
SERVICE CORP INTERNATL CMN	Common Stock	817565104	542	20,000	SH		SOLE		20,000	0	0
SHILOH INDUSTRIES INC COM STK	Common Stock	824543102	107	13,150	SH		SOLE		13,150	0	0
SIFCO INDUSTRIES INC CMN	Common Stock	826546103	208	18,400	SH		SOLE		18,400	0	0
SIGA TECHNOLOGIES, INC. CMN	Common Stock	826917106	108	91,377	SH		SOLE		91,377	0	0
SINCLAIR BROADCAST GROUP INC CMN CLASS A	Common Stock	829226109	253	10,000	SH		SOLE		10,000	0	0
SL INDS INC CMN	Common Stock	784413106	2,833	83,316	SH		SOLE		83,316	0	0
SPAR GROUP INC CMN	Common Stock	784933103	1,361	907,290	SH		SOLE		907,290	0	0
SPARTAN MOTORS INC. CMN	Common Stock	846819100	52	12,619	SH		SOLE		12,619	0	0
SPDR S&P 500 ETF TRUST	ETP	78462F103	30,335	158,300	SH		SOLE		158,300	0	0
SPDR S&P MIDCAP 400 ETF TRUST ETF	ETP	78467Y107	2,489	10,000	SH		SOLE		10,000	0	0
SPOK HOLDINGS INCORPORATED CMN	Common Stock	84863T106	329	20,000	SH		SOLE		20,000	0	0
STAR BULK CARRIERS CORP. CMN	Common Stock	Y8162K121	1,487	725,342	SH		SOLE		725,342	0	0
STARTEK, INC. CMN	Common Stock	85569C107	166	49,423	SH		SOLE		49,423	0	0
STATE STREET CORPORATION (NEW) CMN	Common Stock	857477103	6,721	100,000	SH		SOLE		100,000	0	0
STEALTHGAS INC. CMN	Common Stock	Y81669106	45	10,000	SH		SOLE		10,000	0	0
STEELCASE INC. CLASS A COMMON STOCK	Common Stock	858155203	276	15,000	SH		SOLE		15,000	0	0
STEWART INFORMATION SVCS CORP CMN	Common Stock	860372101	3,273	80,000	SH		SOLE		80,000	0	0
STORAGENETWORKS INC. CMN	Common Stock	86211E103	0	300,000	SH		SOLE		300,000	0	0
STRATUS PPTYS INC CMN	Common Stock	863167201	2,040	133,131	SH		SOLE		133,131	0	0
SUNTRUST BANKS INC $1.00 PAR CMN	Common Stock	867914103	765	20,000	SH		SOLE		20,000	0	0
SURGUTNEFTEGAZ SPON ADR PREF SPONSORED ADR PFD TAXBL	ADR	868861105	138	23,000	SH		SOLE		23,000	0	0
SURMODICS INC CMN	Common Stock	868873100	218	10,000	SH		SOLE		10,000	0	0
SYMETRA FINANCIAL CORPORATION CMN	Common Stock	87151Q106	1,138	35,952	SH		SOLE		35,952	0	0
SYMMETRY SURGICAL INC CMN	Common Stock	87159G100	1,053	118,309	SH		SOLE		118,309	0	0
TEGNA INC CMN	Common Stock	87901J105	1,120	50,000	SH		SOLE		50,000	0	0
TEMPUR SEALY INTERNATIONAL INC CMN	Common Stock	88023U101	1,429	20,000	SH		SOLE		20,000	0	0
TESORO CORPORATION CMN	Common Stock	881609101	2,431	25,000	SH		SOLE		25,000	0	0
TESORO LOGISTICS LP CMN	MLP	88160T107	675	15,000	SH		SOLE		15,000	0	0
THE BANK OF NY MELLON CORP CMN	Common Stock	064058100	3,915	100,000	SH		SOLE		100,000	0	0
THE E.W. SCRIPPS COMPANY CMN CLASS A	Common Stock	811054402	183	10,352	SH		SOLE		10,352	0	0
THE KRAFT HEINZ CO CMN	Common Stock	500754106	1,412	20,000	SH		SOLE		20,000	0	0
THE RYLAND GROUP, INC. CMN	Common Stock	783764103	204	5,000	SH		SOLE		5,000	0	0
TOLL BROTHERS, INC. CMN	Common Stock	889478103	3,424	100,000	SH		SOLE		100,000	0	0
TOTAL SYS SVC INC. CMN	Common Stock	891906109	454	10,000	SH		SOLE		10,000	0	0
TREMOR VIDEO, INC. CMN	Common Stock	89484Q100	280	150,482	SH		SOLE		150,482	0	0
TRINITY BIOTECH PLC SPONSORED ADR CMN	ADR	896438306	172	15,000	SH		SOLE		15,000	0	0
TUCOWS, INC. CMN CLASS A	Common Stock	898697206	293	12,683	SH		SOLE		12,683	0	0
TWENTY-FIRST CENTURY FOX, INC. CMN CLASS A	Common Stock	90130A101	540	20,000	SH		SOLE		20,000	0	0
TYCO INTERNATIONAL PLC CMN	Common Stock	H89128104	837	25,000	SH		SOLE		25,000	0	0
U.S. CONCRETE INC CMN	Common Stock	90333L201	2,782	58,211	SH		SOLE		58,211	0	0
U.S. PHYSICAL THERAPY, INC. CMN	Common Stock	90337L108	3,142	69,999	SH		SOLE		69,999	0	0
UFP TECHNOLOGIES INC CMN	NY Reg Shrs	902673102	2,223	97,300	SH		SOLE		97,300	0	0
UNILEVER N.V. NY SHS (NEW) ADR CMN	NY Reg Shrs	904784709	1,206	30,000	SH		SOLE		30,000	0	0
UNITED BANCSHARES INC OHIO CMN	Common Stock	909458101	902	57,500	SH		SOLE		57,500	0	0
UNITED CONTINENTAL HOLDING INC CMN	Common Stock	910047109	3,714	70,000	SH		SOLE		70,000	0	0
UNITED ONLINE, INC. CMN	Common Stock	911268209	286	28,571	SH		SOLE		28,571	0	0
UNITED PARCEL SERVICE, INC. CLASS B COMMON STOCK	Common Stock	911312106	2,467	25,000	SH		SOLE		25,000	0	0
UNITED RENTALS, INC. CMN	Common Stock	911363109	300	5,000	SH		SOLE		5,000	0	0
UNITED TECHNOLOGIES CORP CMN	Common Stock	913017109	222	2,500	SH		SOLE		2,500	0	0
UNITEDHEALTH GROUP INCORPORATE*D CMN	Common Stock	91324P102	6,381	55,000	SH		SOLE		55,000	0	0
UNIVERSAL HEALTH SVC CL B CMN CLASS B	Common Stock	913903100	1,248	10,000	SH		SOLE		10,000	0	0
UNIVERSAL TECHNICAL INSTITUTE CMN	Common Stock	913915104	460	131,182	SH		SOLE		131,182	0	0
VALSPAR CORP CMN	Common Stock	920355104	1,078	15,000	SH		SOLE		15,000	0	0
VELOCITYSHARES DAILY INVERSE VIX MEDIUM TERM ETN	ETP	22542D829	225	6,000	SH		SOLE		6,000	0	0
VELOCITYSHARES DAILY INVERSE VIX SHORT TERM ETN	ETP	22542D795	244	10,000	SH		SOLE		10,000	0	0
VERINT SYSTEMS INC CMN	Common Stock	92343X100	863	20,000	SH		SOLE		20,000	0	0
VF CORP CMN	Common Stock	918204108	2,183	32,000	SH		SOLE		32,000	0	0
VIAD CORP CMN	Common Stock	92552R406	1,160	40,000	SH		SOLE		40,000	0	0
VIEWTRAN GROUP INC CMN	Common Stock	0G936W104	76	100,185	SH		SOLE		100,185	0	0
VISA INC. CMN CLASS A	Common Stock	92826C839	7,245	104,000	SH		SOLE		104,000	0	0
VISHAY INTERTECHNOLOGY CMN	Common Stock	928298108	1,776	183,240	SH		SOLE		183,240	0	0
VONAGE HOLDINGS CORP. CMN	Common Stock	92886T201	171	29,075	SH		SOLE		29,075	0	0
W.R. GRACE & CO (NEW) CMN	Common Stock	38388F108	2,094	22,500	SH		SOLE		22,500	0	0
WAL MART STORES INC CMN	Common Stock	931142103	1,621	25,000	SH		SOLE		25,000	0	0
WALGREENS BOOTS ALLIANCE, INC. CMN	Common Stock	931427108	3,075	37,000	SH		SOLE		37,000	0	0
WALT DISNEY COMPANY (THE) CMN	Common Stock	254687106	204	2,000	SH		SOLE		2,000	0	0
WARREN RESOURCES INC. CMN	Common Stock	93564A100	88	179,167	SH		SOLE		179,167	0	0
WEBCO INDS INC CMN	Common Stock	947621207	600	10,707	SH		SOLE		10,707	0	0
WELLCARE HEALTH PLANS INC CMN	Common Stock	94946T106	431	5,000	SH		SOLE		5,000	0	0
WILLDAN GROUP INC CMN	Common Stock	96924N100	1,959	193,159	SH		SOLE		193,159	0	0
WILLIS LEASE FINANCE CORP CMN	Common Stock	970646105	650	40,000	SH		SOLE		40,000	0	0
WORLD FUEL SERVICES CORP CMN	Common Stock	981475106	286	8,000	SH		SOLE		8,000	0	0
WTS/KINDER MORGAN, INC. EXP 05/25/2017	Equity WRT	49456B119	22	23,950	SH		SOLE		23,950	0	0
XEROX CORPORATION CMN	Common Stock	984121103	97	10,000	SH		SOLE		10,000	0	0
YAHOO INC CMN	Common Stock	984332106	867	30,000	SH		SOLE		30,000	0	0
YPF SOCIEDAD ANONIMA SPONSORED ADR REPSTG CL D	ADR	984245100	152	10,000	SH		SOLE		10,000	0	0