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 |
| AEP INDS INC | COM | 001031103 | 913 | 24,096 | SH | SOLE | 0 | 0 | 24,096 | ||
| APCO OIL & GAS INTERNATIONAL | SHS | g0471f109 | 35,491 | 2,753,338 | SH | SOLE | 0 | 0 | 2,753,338 | ||
| CELGENE CORP | COM | 151020104 | 1,780 | 18,780 | SH | SOLE | 0 | 0 | 18,780 | ||
| CHEVRON CORP NEW | COM | 166764100 | 372 | 3,114 | SH | SOLE | 0 | 0 | 3,114 | ||
| EASTERN CO | COM | 276317104 | 15,951 | 999,413 | SH | SOLE | 0 | 0 | 999,413 | ||
| ECOLOGY & ENVIRONMENT INC | CL A | 278878103 | 236 | 24,445 | SH | SOLE | 0 | 0 | 24,445 | ||
| EXXON MOBIL CORP | COM | 30231G102 | 328 | 3,492 | SH | SOLE | 0 | 0 | 3,492 | ||
| GENERAL ELECTRIC CO | COM | 369604103 | 220 | 8,577 | SH | SOLE | 0 | 0 | 8,577 | ||
| GLOBAL POWER EQUIPMENT GRP I | COM PAR $0.01 | 37941P306 | 16,237 | 1,089,710 | SH | SOLE | 0 | 0 | 1,089,710 | ||
| GRAHAM CORP | COM | 384556106 | 1,270 | 44,159 | SH | SOLE | 0 | 0 | 44,159 | ||
| GSE SYS INC | COM | 36227k106 | 261 | 167,457 | SH | SOLE | 0 | 0 | 167,457 | ||
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | 764 | 4,026 | SH | SOLE | 0 | 0 | 4,026 | ||
| JOHNSON & JOHNSON | COM | 478160104 | 516 | 4,840 | SH | SOLE | 0 | 0 | 4,840 | ||
| LILLY ELI & CO | COM | 532457108 | 285 | 4,394 | SH | SOLE | 0 | 0 | 4,394 | ||
| M & T BK CORP | COM | 55261F104 | 1,012 | 8,211 | SH | SOLE | 0 | 0 | 8,211 | ||
| MERCK & CO INC NEW | COM | 58933y105 | 614 | 10,350 | SH | SOLE | 0 | 0 | 10,350 | ||
| MICROSOFT CORP | COM | 594918104 | 236 | 5,097 | SH | SOLE | 0 | 0 | 5,097 | ||
| NANOSPHERE INC | COM | 63009F105 | 65 | 114,200 | SH | SOLE | 0 | 0 | 114,200 | ||
| PFIZER INC | COM | 717081103 | 214 | 7,229 | SH | SOLE | 0 | 0 | 7,229 | ||
| PMFG INC | COM | 69345P103 | 22,258 | 4,451,552 | SH | SOLE | 0 | 0 | 4,451,552 | ||
| PRECISION CASTPARTS CORP | COM | 740189105 | 711 | 3,000 | SH | SOLE | 0 | 0 | 3,000 | ||
| PROCTER & GAMBLE CO | COM | 742718109 | 892 | 10,649 | SH | SOLE | 0 | 0 | 10,649 | ||
| PROSHARES TR | PSHS ULSHT SP500 | 74347B300 | 820 | 33,222 | SH | SOLE | 0 | 0 | 33,222 | ||
| RAND CAP CORP | COM | 752185108 | 887 | 287,064 | SH | SOLE | 0 | 0 | 287,064 | ||
| TRANSCAT INC | COM | 893529107 | 14,457 | 1,579,996 | SH | SOLE | 0 | 0 | 1,579,996 | ||
| UNION PAC CORP | COM | 907818108 | 517 | 4,772 | SH | SOLE | 0 | 0 | 4,772 | ||
| UNITED STATES LIME & MINERAL | COM | 911922102 | 1,217 | 20,928 | SH | SOLE | 0 | 0 | 20,928 | ||