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 |
| ||||||||||||||||||||
| 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 | 38,461 | 2,661,668 | SH | SOLE | 0 | 0 | 2,661,668 | ||
| BGC PARTNERS INC | CL A | 05541T101 | 65 | 10,000 | SH | SOLE | 0 | 0 | 10,000 | ||
| CELGENE CORP | COM | 151020104 | 1,349 | 9,665 | SH | SOLE | 0 | 0 | 9,665 | ||
| CHEVRON CORP NEW | COM | 166764100 | 540 | 4,545 | SH | SOLE | 0 | 0 | 4,545 | ||
| EASTERN CO | COM | 276317104 | 17,742 | 1,093,136 | SH | SOLE | 0 | 0 | 1,093,136 | ||
| ECOLOGY & ENVIRONMENT INC | CL A | 278878103 | 492 | 51,397 | SH | SOLE | 0 | 0 | 51,397 | ||
| EXXON MOBIL CORP | COM | 30231G102 | 537 | 5,494 | SH | SOLE | 0 | 0 | 5,494 | ||
| GENERAL ELECTRIC CO | COM | 369604103 | 267 | 10,297 | SH | SOLE | 0 | 0 | 10,297 | ||
| GLOBAL POWER EQUIPMENT GRP I | COM PAR $0.01 | 37941P306 | 25,193 | 1,266,598 | SH | SOLE | 0 | 0 | 1,266,598 | ||
| GRAHAM CORP | COM | 384556106 | 8,180 | 256,836 | SH | SOLE | 0 | 0 | 256,836 | ||
| GSE SYS INC | COM | 36227k106 | 380 | 218,537 | SH | SOLE | 0 | 0 | 218,537 | ||
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | 852 | 4,426 | SH | SOLE | 0 | 0 | 4,426 | ||
| JOHNSON & JOHNSON | COM | 478160104 | 475 | 4,840 | SH | SOLE | 0 | 0 | 4,840 | ||
| LILLY ELI & CO | COM | 532457108 | 259 | 4,394 | SH | SOLE | 0 | 0 | 4,394 | ||
| M & T BK CORP | COM | 55261F104 | 1,012 | 8,342 | SH | SOLE | 0 | 0 | 8,342 | ||
| MERCK & CO INC NEW | COM | 58933y105 | 588 | 10,350 | SH | SOLE | 0 | 0 | 10,350 | ||
| MICROSOFT CORP | COM | 594918104 | 275 | 6,697 | SH | SOLE | 0 | 0 | 6,697 | ||
| NANOSPHERE INC | COM | 63009F105 | 246 | 114,200 | SH | SOLE | 0 | 0 | 114,200 | ||
| PFIZER INC | COM | 717081103 | 246 | 7,669 | SH | SOLE | 0 | 0 | 7,669 | ||
| PMFG INC | COM | 69345P103 | 29,389 | 4,922,821 | SH | SOLE | 0 | 0 | 4,922,821 | ||
| PRECISION CASTPARTS CORP | COM | 740189105 | 2,356 | 9,322 | SH | SOLE | 0 | 0 | 9,322 | ||
| PROCTER & GAMBLE CO | COM | 742718109 | 875 | 10,859 | SH | SOLE | 0 | 0 | 10,859 | ||
| PROSHARES TR | PSHS ULSHT SP500 | 74347B300 | 1,380 | 48,689 | SH | SOLE | 0 | 0 | 48,689 | ||
| RAND CAP CORP | COM | 752185108 | 3,191 | 914,441 | SH | SOLE | 0 | 0 | 914,441 | ||
| TRANSCAT INC | COM | 893529107 | 17,935 | 1,914,056 | SH | SOLE | 0 | 0 | 1,914,056 | ||
| UNION PAC CORP | COM | 907818108 | 448 | 2,386 | SH | SOLE | 0 | 0 | 2,386 | ||
| UNITED STATES LIME & MINERAL | COM | 911922102 | 1,451 | 25,768 | SH | SOLE | 0 | 0 | 25,768 | ||