The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it 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 |
| APCO OIL & GAS INTERNATIONAL | SHS | g0471f109 | 30,348 | 2,632,078 | SH | SOLE | 0 | 0 | 2,632,078 | ||
| ASTRONICS CORP | COM | 046433108 | 10,690 | 261,553 | SH | SOLE | 0 | 0 | 261,553 | ||
| BGC PARTNERS INC | CL A | 05541T101 | 59 | 10,000 | SH | SOLE | 0 | 0 | 10,000 | ||
| CELGENE CORP | COM | 151020104 | 1,131 | 9,665 | SH | SOLE | 0 | 0 | 9,665 | ||
| CH ENERGY GROUP INC | COM | 12541M102 | 335 | 5,158 | SH | SOLE | 0 | 0 | 5,158 | ||
| CHEVRON CORP NEW | COM | 166764100 | 562 | 4,745 | SH | SOLE | 0 | 0 | 4,745 | ||
| EASTERN CO | COM | 276317104 | 19,950 | 1,246,879 | SH | SOLE | 0 | 0 | 1,246,879 | ||
| ECOLOGY & ENVIRONMENT INC | CL A | 278878103 | 577 | 54,980 | SH | SOLE | 0 | 0 | 54,980 | ||
| EXXON MOBIL CORP | COM | 30231G102 | 1,007 | 11,144 | SH | SOLE | 0 | 0 | 11,144 | ||
| GENERAL ELECTRIC CO | COM | 369604103 | 358 | 15,422 | SH | SOLE | 0 | 0 | 15,422 | ||
| GLOBAL POWER EQUIPMENT GRP I | COM PAR $0.01 | 37941P306 | 23,606 | 1,464,391 | SH | SOLE | 0 | 0 | 1,464,391 | ||
| GLOBECOMM SYSTEMS INC | COM | 37956X103 | 9,390 | 742,857 | SH | SOLE | 0 | 0 | 742,857 | ||
| GRAHAM CORP | COM | 384556106 | 9,847 | 327,896 | SH | SOLE | 0 | 0 | 327,896 | ||
| GSE SYS INC | COM | 36227k106 | 407 | 269,298 | SH | SOLE | 0 | 0 | 269,298 | ||
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | 846 | 4,426 | SH | SOLE | 0 | 0 | 4,426 | ||
| JOHNSON & JOHNSON | COM | 478160104 | 416 | 4,840 | SH | SOLE | 0 | 0 | 4,840 | ||
| LILLY ELI & CO | COM | 532457108 | 216 | 4,394 | SH | SOLE | 0 | 0 | 4,394 | ||
| M & T BK CORP | COM | 55261F104 | 932 | 8,342 | SH | SOLE | 0 | 0 | 8,342 | ||
| MERCK & CO INC NEW | COM | 58933y105 | 481 | 10,350 | SH | SOLE | 0 | 0 | 10,350 | ||
| MICROSOFT CORP | COM | 594918104 | 260 | 7,522 | SH | SOLE | 0 | 0 | 7,522 | ||
| NANOSPHERE INC | COM | 63009F105 | 178 | 57,950 | SH | SOLE | 0 | 0 | 57,950 | ||
| PFIZER INC | COM | 717081103 | 215 | 7,669 | SH | SOLE | 0 | 0 | 7,669 | ||
| PMFG INC | COM | 69345P103 | 35,860 | 5,182,093 | SH | SOLE | 0 | 0 | 5,182,093 | ||
| PRECISION CASTPARTS CORP | COM | 740189105 | 2,405 | 10,642 | SH | SOLE | 0 | 0 | 10,642 | ||
| PROCTER & GAMBLE CO | COM | 742718109 | 853 | 11,084 | SH | SOLE | 0 | 0 | 11,084 | ||
| PROSHARES TR | PSHS ULSHT SP500 | 74347B300 | 1,936 | 47,391 | SH | SOLE | 0 | 0 | 47,391 | ||
| RAND CAP CORP | COM | 752185108 | 2,885 | 991,364 | SH | SOLE | 0 | 0 | 991,364 | ||
| TRANSCAT INC | COM | 893529107 | 14,422 | 2,120,936 | SH | SOLE | 0 | 0 | 2,120,936 | ||
| UNITED STATES LIME & MINERAL | COM | 911922102 | 9,150 | 175,129 | SH | SOLE | 0 | 0 | 175,129 | ||
| UNITIL CORP | COM | 913259107 | 209 | 7,250 | SH | SOLE | 0 | 0 | 7,250 | ||