<SEC-DOCUMENT>0000949377-15-000392.txt : 20151120
<SEC-HEADER>0000949377-15-000392.hdr.sgml : 20151120
<ACCEPTANCE-DATETIME>20151120162110
ACCESSION NUMBER:		0000949377-15-000392
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150930
FILED AS OF DATE:		20151120
DATE AS OF CHANGE:		20151120
EFFECTIVENESS DATE:		20151120

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROYCE MICRO-CAP TRUST, INC /MD/
		CENTRAL INDEX KEY:			0000912147
		IRS NUMBER:				133739778
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08030
		FILM NUMBER:		151246953

	BUSINESS ADDRESS:	
		STREET 1:		ROYCE MICRO-CAP TRUST, INC.
		STREET 2:		745 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151
		BUSINESS PHONE:		2124084587

	MAIL ADDRESS:	
		STREET 1:		ROYCE MICRO-CAP TRUST, INC.
		STREET 2:		745 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE MICRO CAP TRUST INC /MD/
		DATE OF NAME CHANGE:	20010430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE OTC MICRO CAP FUND INC
		DATE OF NAME CHANGE:	19930917
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>e38015_rmt-nq.htm
<TEXT>
<p><font face="Times New Roman" size="2">UNITED STATES<br>SECURITIES AND EXCHANGE
 COMMISSION<br>Washington, D.C. 20549</font></p>
<p><font face="Times New Roman" size="2">FORM N-Q<br>QUARTERLY SCHEDULE OF PORTFOLIO
 HOLDINGS OF REGISTERED<br>MANAGEMENT INVESTMENT COMPANY</font></p>
<p><font face="Times New Roman" size="2">Investment Company Act File Number: 811-08030</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="9%" nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Name of Fund:</font></td>
<td valign="bottom" nowrap align="left"><font face="Times New Roman" size="2">Royce Micro-Cap Trust, Inc.</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Fund Address:</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">745 Fifth Avenue</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">New York, NY 10151</font></td>
</tr>
</table>
<p><font face="Times New Roman" size="2">Name and address of agent for service:<br>
John E. Denneen, Esq.<br>Royce &#038; Associates, LLC<br>745 Fifth Avenue<br>New
 York, NY 10151</font></p>
<p><font face="Times New Roman" size="2">Registrant&#146;s telephone number, including
 area code: (212) 508-4500</font></p>
<p><font face="Times New Roman" size="2">Date of fiscal year end: 12/31/2015</font></p>
<p><font face="Times New Roman" size="2">Date of reporting period: 9/30/2015</font></p>
<p><hr size="2" noshade color="gray"></p>
<br clear="all" style="page-break-before:always;">
<!--page-->
<p><font face="Times New Roman" size="2">Item 1 - Schedule of Investments</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">SCHEDULE OF INVESTMENTS</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">ROYCE MICRO-CAP TRUST</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">SEPTEMBER 30, 2015 (UNAUDITED)</font></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Arial" size="2"><b>SHARES
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Arial" size="2"><b>VALUE
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>COMMON
 STOCKS &#150; 104.8%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>Consumer
 Discretionary &#150; 15.4%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Auto Components
 - 2.6%</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Drew
 Industries <sup><a href="#rmt1">1</a>,<a href="#rmt2">2</a></sup></font></p></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="6%" valign="bottom" align="right"><font face="Arial" size="2">38,400</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="1%" valign="bottom" align="left"><font face="Arial" size="2">$</font></td>
<td width="8%" valign="bottom" align="right"><font face="Arial" size="2">2,097,024</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Fuel
 Systems Solutions <sup><a href="#rmt3">3</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">152,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">734,160</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Global
 &#038; Yuasa Battery</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">50,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,739,388</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Motorcar
 Parts of America <sup><a href="#rmt3">3</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">50,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,567,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Standard
 Motor Products</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">61,853</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,157,433</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">8,295,005</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Distributors
 - 0.8%</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Core-Mark
 Holding Company</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">16,800</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,099,560</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Weyco
 Group</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">59,600</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,611,584</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,711,144</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Diversified
 Consumer Services - 1.8%</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">American
 Public Education <sup><a href="#rmt3">3</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">73,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,716,540</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Capella
 Education</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,300</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">64,376</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Collectors
 Universe</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">90,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,364,740</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Liberty
 Tax Cl. A <sup><a href="#rmt2">2</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">108,264</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,521,469</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Lincoln
 Educational Services <sup><a href="#rmt3">3</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">266,700</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">136,017</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">5,803,142</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Hotels, Restaurants
 &#038; Leisure - 0.0%</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Nathan&#146;s Famous</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,100</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">79,842</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Household
 Durables - 2.6%</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Cavco
 Industries <sup><a href="#rmt3">3</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">21,691</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,476,940</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Ethan
 Allen Interiors <sup><a href="#rmt2">2</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">69,700</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,840,777</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<tr>
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<tr>
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<tr>
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<td align="left"><font face="Arial">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<tr>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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</tr>
<tr>
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</tr>
<tr>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">189,921</font></td>
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</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">255,382</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">39,564</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">752,746</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Stage
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<td valign="bottom" align="right"><font face="Arial" size="2">25,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">246,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Systemax
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">74,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">554,260</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">TravelCenters
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,900</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">29,957</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">West
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">86,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">755,080</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">5,451,637</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Textiles,
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Crown
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">159,359</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,308,337</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Culp</font></p></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">32,900</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,055,103</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">J.G.
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<td valign="bottom" align="right"><font face="Arial" size="2">2,490</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,630,950</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Movado
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<td valign="bottom" align="right"><font face="Arial" size="2">44,374</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,146,180</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">YGM
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,422,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,287,657</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">6,428,227</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">49,290,278</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Crimson
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">58,124</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">525,441</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Food Products
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Binggrae</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">18,078</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,147,397</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Farmer
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">47,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,286,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">John
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">21,700</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,112,342</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Landec
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">75,610</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">882,369</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Limoneira
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">6,400</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">107,072</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Seneca
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">51,400</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,354,390</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Seneca
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">42,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,360,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">SunOpta
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<td valign="bottom" align="right"><font face="Arial" size="2">168,281</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">817,846</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Waterloo
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">806,207</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">306,358</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">8,373,974</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">8,899,415</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">25,000</font></td>
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<tr>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">9,500</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">131,195</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Gulf
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<td valign="bottom" align="right"><font face="Arial" size="2">103,216</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">25,300</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">568,491</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">North
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<td valign="bottom" align="right"><font face="Arial" size="2">50,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">109,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Pioneer
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">57,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">120,750</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Tesco
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<td valign="bottom" align="right"><font face="Arial" size="2">58,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">414,120</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,902,829</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Ardmore
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">187,240</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Dorchester
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,361,076</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Permian
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,627,295</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Resolute
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<td valign="bottom" align="right"><font face="Arial" size="2">102,100</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">39,615</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">StealthGas
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<td valign="bottom" align="right"><font face="Arial" size="2">132,203</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">593,591</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">3,808,817</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">6,711,646</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">438,100</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">775,437</font></td>
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<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">543,900</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">45,253</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Blue
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">692,500</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Bryn
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">776,750</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Chemung
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<td valign="bottom" align="right"><font face="Arial" size="2">31,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">883,500</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Fauquier
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<td valign="bottom" align="right"><font face="Arial" size="2">140,200</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,164,688</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">First
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<td valign="bottom" align="right"><font face="Arial" size="2">40,200</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">767,820</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Peapack-Gladstone
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<td valign="bottom" align="right"><font face="Arial" size="2">53,606</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,134,839</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">7,240,787</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,612,093</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">230,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,372,606</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">456,000</font></td>
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</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
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<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Independence
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">105,380</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,365,725</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">National
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">7,033</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,566,249</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">State
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">97,264</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,218,592</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">United
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<td valign="bottom" align="right"><font face="Arial" size="2">38,603</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,353,035</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">9,094,461</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">BRT
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">230,331</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,633,047</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">AV
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">75,300</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,018,056</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Forestar
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">53,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">696,950</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">FRP
 Holdings <sup><a href="#rmt1">1</a>,<a href="#rmt2">2</a>,<a href="#rmt3">3</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">88,381</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,663,803</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Griffin
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">47,746</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,180,759</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Hopefluent
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,400,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">362,395</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Marcus
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<td valign="bottom" align="right"><font face="Arial" size="2">1,800</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">82,782</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Tejon
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">112,162</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,446,253</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Tejon
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">13,146</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,103</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">8,453,101</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">63,899,607</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Aquinox
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<td valign="bottom" align="right"><font face="Arial" size="2">18,622</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">262,011</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">ARIAD
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<td valign="bottom" align="right"><font face="Arial" size="2">114,102</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">666,356</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Celsion
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<td valign="bottom" align="right"><font face="Arial" size="2">115,555</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">192,977</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">55,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">332,750</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Fortress
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<td valign="bottom" align="right"><font face="Arial" size="2">147,400</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">383,240</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Sangamo
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<td valign="bottom" align="right"><font face="Arial" size="2">137,048</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">772,951</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Zealand
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<td valign="bottom" align="right"><font face="Arial" size="2">141,100</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">3,109,565</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">5,719,850</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">21,471</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">24,692</font></td>
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</tr>
<tr>
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<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">80,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">539,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Lipocine
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">90,467</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,070,224</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Repros
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<td valign="bottom" align="right"><font face="Arial" size="2">129,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">958,470</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Theravance
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">83,509</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">917,764</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">3,485,658</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">37,659,094</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Breeze-Eastern
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<td valign="bottom" align="right"><font face="Arial" size="2">24,233</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">338,777</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">CPI
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<td valign="bottom" align="right"><font face="Arial" size="2">15,700</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">138,317</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">FLYHT
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<td valign="bottom" align="right"><font face="Arial" size="2">800,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">113,929</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Innovative
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">142,828</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">387,064</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Kratos
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">72,324</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">305,207</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">SIFCO
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">45,800</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">506,548</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,789,842</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Frontier
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">4,229,086</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">762,292</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">AAON
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">30,300</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">587,214</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Apogee
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">31,900</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,424,335</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Burnham
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">117,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,029,950</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Insteel
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">60,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">972,840</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Patrick
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">16,900</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">667,381</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">5,681,720</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">107,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,181,425</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Heritage-Crystal
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<td valign="bottom" align="right"><font face="Arial" size="2">235,077</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,414,241</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">17,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">562,100</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">4,157,766</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Ameresco
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<td><font face="Arial" size="1">&#160;</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">MYR
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<td valign="bottom" align="right"><font face="Arial" size="2">96,800</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,536,160</font></td>
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</tr>
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<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">11,306,772</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<tr>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">28,400</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">854,840</font></td>
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</tr>
<tr>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">103,400</font></td>
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<tr style="font-size:1px;">
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">39,250</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">44,132</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Columbus
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">96,248</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Douglas
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<td valign="bottom" align="right"><font face="Arial" size="2">993,000</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">39,750</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">643,950</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">569,792</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">86,150</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">1,520,548</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Hurco
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<td valign="bottom" align="right"><font face="Arial" size="2">57,266</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">1,502,660</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">34,300</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">1,338,043</font></td>
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</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">113,900</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">2,107,150</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">2,419,989</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">225,254</font></td>
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</tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">1,882,030</font></td>
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</tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">86,870</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">13,800,407</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Clarkson</font></p></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">13,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">401,293</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Professional
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">116,300</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,056,004</font></td>
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</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">47,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">461,540</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Franklin
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">68,400</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,098,504</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Heidrick
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">73,468</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,428,953</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Kforce
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">3,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">84,096</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Mistras
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">4,100</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">52,685</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Navigant
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">5,100</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">81,141</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Resources
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">60,160</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">906,611</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">RPX
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">104,900</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,439,228</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">6,608,762</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Marten
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">3,300</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">53,361</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Patriot
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">29,460</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">708,513</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Universal
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">120,800</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,880,856</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,642,730</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Houston
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">162,075</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,027,555</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Lawson
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">47,769</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,034,199</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">MFC
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<td valign="bottom" align="right"><font face="Arial" size="2">70,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">200,200</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,261,954</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Transportation
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">53,197</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">745,048</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">55,227,655</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">48,900</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">835,701</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">7,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">140,850</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Bel
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">98,675</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">652,242</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Computer
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<td valign="bottom" align="right"><font face="Arial" size="2">276,500</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,347,504</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">ePlus
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<td valign="bottom" align="right"><font face="Arial" size="2">17,199</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Gigamon
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<td valign="bottom" align="right"><font face="Arial" size="2">3,600</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">72,036</font></td>
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<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">65,000</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">650,650</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">PSI
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<td valign="bottom" align="right"><font face="Arial" size="2">34,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">456,020</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Rubicon
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">60,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">879,065</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">SeaChange
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<td valign="bottom" align="right"><font face="Arial" size="2">274,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,726,200</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">TiVo
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">122,600</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,061,716</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">VASCO
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">22,200</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">378,288</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">10,739,970</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Avid
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">7,600</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">60,496</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">251,700</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,157,820</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Kortek</font></p></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">135,007</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,631,706</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Kortek
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">27,870</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">76,417</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">TransAct
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<td valign="bottom" align="right"><font face="Arial" size="2">78,600</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">716,046</font></td>
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<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">3,642,485</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">77,430,263</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">11,775</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">715,567</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">3</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">118</font></td>
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<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">FutureFuel
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<td valign="bottom" align="right"><font face="Arial" size="2">1,007,760</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">19,866</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">764,841</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">27,400</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">2,111,992</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">4,600,278</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">8,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,608,000</font></td>
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</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Monarch
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<td valign="bottom" align="right"><font face="Arial" size="2">16,303</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">489,253</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,097,253</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Containers
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">UFP
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">70,736</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,616,317</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Alamos
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<td valign="bottom" align="right"><font face="Arial" size="2">46,044</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">170,444</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Ampco-Pittsburgh</font></p></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,001,756</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Central
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">788</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">489,348</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Comstock
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<td valign="bottom" align="right"><font face="Arial" size="2">615,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">381,300</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Exeter
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">246,500</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">78,880</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Haynes
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">49,901</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,888,254</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Hecla
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">44,518</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">87,701</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Horsehead
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">11,900</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">36,176</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Imdex
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">602,290</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">78,323</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">MAG
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">96,050</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">683,876</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Major
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">686,857</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">2,290,381</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Materion
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">50,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,501,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Olympic
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">100,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">995,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Pretium
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">90,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">544,923</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Universal
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">73,600</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">778,688</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Victoria
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<td valign="bottom" align="right"><font face="Arial" size="2">550,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">53,578</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">11,059,628</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">19,373,476</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Diversified
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<td valign="bottom" align="right"><font face="Arial" size="2">45,800</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">255,564</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">255,564</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
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<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
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<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">40,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">260,756</font></td>
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<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
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</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td valign="bottom" align="right"><font face="Arial" size="2">450,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">141,626</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Water Utilities
 - 0.2%</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">GWR
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<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">106,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">523,447</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>Total</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">925,829</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>Miscellaneous <sup><a href="#rmt6">6</a></sup> &#150; 4.6%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">14,739,998</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>TOTAL COMMON
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<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">(Cost $345,860,806)</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">334,412,825</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>PREFERRED
 STOCK &#150; 0.4%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Seneca
 Foods Conv. <sup><a href="#rmt3">3</a>,<a href="#rmt4">4</a></sup></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">(Cost $578,719)</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">45,409</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,150,664</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>REPURCHASE
 AGREEMENT &#150; 12.4%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Fixed Income
 Clearing Corporation,</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">0.00%
 dated 9/30/15, due 10/1/15,</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">maturity
 value $39,758,000 (collateralized</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">by
 obligations of various U.S. Government</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">Agencies,
 2.00% due 10/31/21, valued at</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">$40,557,400)</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">(Cost $39,758,000)</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">39,758,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>TOTAL INVESTMENTS
 &#150; 117.6%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2">(Cost $386,197,525)</font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">375,321,489</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>LIABILITIES
 LESS CASH</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><p style="margin-left:20px; text-indent:-10px;"><font face="Arial" size="2"><b>
AND OTHER ASSETS &#150; (17.6)%</b></font></p></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">(56,126,531</font></td>
<td valign="bottom" align="left"><font face="Arial" size="2">)</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 1px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2"><b>NET ASSETS
 &#150; 100.0%</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="left"><font face="Arial" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font face="Arial" size="2"><b>319,194,958</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td align="left"><font face="Arial">&#160;</font></td>
<td valign="bottom" colspan="2" style="border-top: 2px solid black;">&#160;</td>
<td><font face="Arial">&#160;</font></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="1%" valign="top" align="left"><font face="Arial" size="2"><sup><a name="rmt1">1</a></sup></font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">At September
 30, 2015, a portion of these securities were rehypothecated in connection with the
 Fund&#146;s revolving credit agreement in the aggregate amount of $57,855,248.</font></div></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Arial" size="2"><sup><a name="rmt2">2</a></sup>
</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">All or a portion
 of these securities were pledged as collateral in connection with the revolving
 credit agreement at September 30, 2015. Total market value of pledged securities
 at September 30, 2015, was $94,445,690.</font></div></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Arial" size="2"><sup><a name="rmt3">3</a></sup>
</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">Non-income
 producing.</font></div></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Arial" size="2"><sup><a name="rmt4">4</a></sup>
</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">These securities
 are defined as Level 2 securities due to fair value being based on quoted prices
 for similar securities.</font></div></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Arial" size="2"><sup><a name="rmt5">5</a></sup>
</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">Securities
 for which market quotations are not readily available represent 0.1% of net assets.
 These securities have been valued at their fair value under procedures approved
 by the Fund&#146;s Board of Directors. These securities are defined as Level 3 securities
 due to the use of significant unobservable inputs in the determination of fair value.</font></div></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Arial" size="2"><sup><a name="rmt6">6</a></sup>
</font></td>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">Includes securities
 first acquired in 2015 and less than 1% of net assets.</font></div></td>
</tr>
</table>
<p align="justify"><font face="Arial" size="2"><b>TAX INFORMATION:</b> The cost of total
 investments for Federal income tax purposes was $387,104,512. At September 30, 2015,
 net unrealized depreciation for all securities was $11,783,023, consisting of aggregate
 gross unrealized appreciation of $64,114,285 and aggregate gross unrealized depreciation
 of $75,897,308. The primary difference between book and tax basis cost is the timing
 of the recognition of losses on securities sold.</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2"><b>Valuation
 of Investments:</b></font></td>
</tr>
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">Investment
 transactions are accounted for on the trade date. Securities are valued as of the
 close of trading on the New York Stock Exchange (NYSE) (generally 4:00 p.m. Eastern
 time) on the valuation date. Securities that trade on an exchange, and securities
 traded on Nasdaq&#146;s Electronic Bulletin Board, are valued at their last reported
 sales price or Nasdaq official closing price taken from the primary market in which
 each security trades or, if no sale is reported for such day, at their highest bid
 price. Other over-the-counter securities for which market quotations are readily
 available are valued at their highest bid price, except in the case of some bonds
 and other fixed income securities which may be valued by reference to other securities
 with comparable ratings, interest rates and maturities, using established independent
 pricing services. The Fund values its non-U.S. dollar denominated securities in
 U.S. dollars daily at the prevailing foreign currency exchange rates as quoted by
 a major bank. Securities for which market quotations are not readily available are
 valued at their fair value in accordance with the provisions of the 1940 Act, under
 procedures approved by the Fund&#146;s Board of Directors, and are reported as Level
 3 securities. As a general principle, the fair value of a security is the amount
 which the Fund might reasonably expect to receive for the security upon its current
 sale. However, in light of the judgment involved in fair valuations, there can be
 no assurance that a fair value assigned to a particular security will be the amount
 which the Fund might be able to receive upon its current sale. In addition, if,
 between the time trading ends on a particular security and the close of the customary
 trading session on the NYSE, events occur that are significant and may make the
 closing price unreliable, the Fund may fair value the security. The Fund uses an
 independent pricing service to provide fair value estimates for relevant non-U.S.
 equity securities on days when the U.S. market volatility exceeds a certain threshold.
 This pricing service uses proprietary correlations it has developed between the
 movement of prices of non-U.S. equity securities and indices of U.S.- traded securities,
 futures contracts and other indications to estimate the fair value of relevant non-U.S.
 securities. When fair value pricing is employed, the prices of securities used by
 the Fund may differ from quoted or published prices for the same security. Investments
 in money market funds are valued at net asset value per share.</font></div></td>
</tr>
<tr>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">Various inputs
 are used in determining the value of the Fund&#146;s investments, as noted above.
 These inputs are summarized in the three broad levels below:</font></div></td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="2%" align="left"><font face="Arial" size="1">&#160;</font></td>
<td nowrap width="3%" valign="top" align="right"><font face="Arial" size="2">Level 1</font></td>
<td nowrap width="1%" valign="top" align="center"><font face="Arial" size="2"><b>&#160;&#150;&#160;</b></font></td>
<td valign="top" align="left"><div align="justify"><font face="Arial" size="2">quoted prices
 in active markets for identical securities.</font></div></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="top" align="right"><font face="Arial" size="2">Level 2</font></td>
<td valign="top" align="center"><font face="Arial" size="2"><b>&#160;&#150;&#160;</b></font></td>
<td valign="top" align="left"><div align="justify"><font face="Arial" size="2">other significant
 observable inputs (including quoted prices for similar securities, foreign securities
 that may be fair valued and repurchase agreements). The table below includes all
 Level 2 securities. Level 2 securities with values based on quoted prices for similar
 securities are noted in the Schedule of Investments.</font></div></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="top" align="right"><font face="Arial" size="2">Level 3</font></td>
<td valign="top" align="center"><font face="Arial" size="2"><b>&#160;&#150;&#160;</b></font></td>
<td valign="top" align="left"><div align="justify"><font face="Arial" size="2">significant
 unobservable inputs (including last trade price before trading was suspended, or
 at a discount thereto for lack of marketability or otherwise, market price information
 regarding other securities, information received from the company and/or published
 documents, including SEC filings and financial statements, or other publicly available
 information).</font></div></td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">The inputs
 or methodology used for valuing securities are not necessarily an indication of
 the risk associated with investing in those securities.</font></div></td>
</tr>
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">The following
 is a summary of the inputs used to value the Fund&#146;s investments as of September
 30, 2015. For a detailed breakout of common stocks by sector classification, please
 refer to the Schedule of Investments.</font></div></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Arial" size="2"><b>Level 1
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Arial" size="2"><b>Level 2
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Arial" size="2"><b>Level 3
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Arial" size="2"><b>Total</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" colspan="11" style="border-top: 1px solid #000000;">&#160;</td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2">Common Stocks</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="8%" valign="bottom" align="right"><font face="Arial" size="2">$304,542,859</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="6%" valign="bottom" align="right"><font face="Arial" size="2">$29,487,191</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="5%" valign="bottom" align="right"><font face="Arial" size="2">$382,775</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="8%" valign="bottom" align="right"><font face="Arial" size="2">$334,412,825</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2">Preferred
 Stocks</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">&#150;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,150,664</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">&#150;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">1,150,664</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2">Cash Equivalents</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">&#150;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">39,758,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">&#150;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td valign="bottom" align="right"><font face="Arial" size="2">39,758,000</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2">Level 3 Reconciliation:</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="center"><font face="Arial" size="2"><b>Realized
 and</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="center"><font face="Arial" size="2"><b>Unrealized
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td align="left"><font face="Arial" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="center"><font face="Arial" size="2"><b>Balance
 as of 12/31/14</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="center"><font face="Arial" size="2"><b>Sales</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="center"><font face="Arial" size="2"><b>Gain (Loss)
</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="center"><font face="Arial" size="2"><b>Balance
 as of 9/30/15</b></font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" colspan="16" style="border-top: 1px solid #000000;">&#160;</td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Arial" size="2">Common Stocks</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="11%" valign="bottom" align="center"><font face="Arial" size="2">$325,702</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="11%" valign="bottom" align="center"><font face="Arial" size="2">$1</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="11%" valign="bottom" align="center"><font face="Arial" size="2">$57,074</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="4%"><font face="Arial" size="1">&#160;</font></td>
<td width="11%" valign="bottom" align="center"><font face="Arial" size="2">$382,775</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
<td width="1%"><font face="Arial" size="1">&#160;</font></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2"><b>Repurchase
 Agreements:</b></font></td>
</tr>
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">The Fund may
 enter into repurchase agreements with institutions that the Fund&#146;s investment
 adviser has determined are creditworthy. The Fund restricts repurchase agreements
 to maturities of no more than seven days. Securities pledged as collateral for repurchase
 agreements, which are held until maturity of the repurchase agreements, are marked-to-market
 daily and maintained at a value at least equal to the principal amount of the repurchase
 agreement (including accrued interest). Repurchase agreements could involve certain
 risks in the event of default or insolvency of the counter-party, including possible
 delays or restrictions upon the ability of the Fund to dispose of its underlying
 securities.</font></div></td>
</tr>
<tr>
<td><font face="Arial" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Arial" size="2"><b>Borrowings:
</b></font></td>
</tr>
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">The Fund has
 entered into a revolving credit agreement (the credit agreement) with BNP Paribas
 Prime Brokerage Inc. (BNPP). As of September 30, 2015, the Fund has outstanding
 borrowings of $60,000,000. During the period ended September 30, 2015, the Fund borrowed
 an average daily balance of $60,000,000. The Fund pays a commitment fee of 0.50%
 per annum on the unused portion of the credit agreement. The credit agreement has
 a 360-day rolling term that resets daily; however, if the Fund exceeds certain net
 asset value triggers, the credit agreement may convert to a 60-day rolling term
 that resets daily. The Fund is required to pledge portfolio securities as collateral
 in an amount up to two times the loan balance outstanding and has granted a security
 interest in the securities pledged to, and in favor of, BNPP as security for the
 loan balance outstanding. If the Fund fails to meet certain requirements, or maintain
 other financial covenants required under the credit agreement, the Fund may be required
 to repay immediately, in part or in full, the loan balance outstanding under the
 credit agreement necessitating the sale of portfolio securities at potentially inopportune
 times. The credit agreement also permits, subject to certain conditions, BNPP to
 rehypothecate portfolio securities pledged by the Fund up to the amount of the loan
 balance outstanding. The Fund continues to receive payments in lieu of dividends
 and interest on rehypothecated securities. The Fund also has the right under the
 credit agreement to recall the rehypothecated securities from BNPP on demand. If
 BNPP fails to deliver the recalled security in a timely manner, the Fund is compensated
 by BNPP for any fees or losses related to the failed delivery or, in the event a
 recalled security is not returned by BNPP, the Fund, upon notice to BNPP, may reduce
 the loan balance outstanding by the amount of the recalled security failed to be
 returned. The Fund receives a portion of the fees earned by BNPP in connection with
 the rehypothecation of portfolio securities.</font></div></td>
</tr>
</table>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="left"><div align="justify"><font face="Arial" size="2">Other information
 regarding the Fund is available in the Fund&#146;s most recent Report to Stockholders.
 This information is available through The Royce Funds (<u>www.roycefunds.com</u>) and on
 the Securities and Exchange Commission&#146;s website (www.sec.gov).</font></div></td>
</tr>
</table>
<p><hr size="2" noshade color="gray"></p>
<br clear="all" style="page-break-before:always;">
<!--page-->
<p><font face="Times New Roman" size="2">Item 2 - Controls and Procedures<br>(a)
 The Registrant&#146;s principal executive and principal financial officers have
 concluded, based on their evaluation of the Registrant&#146;s disclosure controls
 and procedures as of a date within 90 days of the filing date of this report (as
 required by Rule 30a-3(b) under the Investment Company Act of 1940 (the &#147;Act&#148;)), that the Registrant&#146;s disclosure controls and procedures (as defined
 by Rule 30a-3(c) under the Act) are reasonably designed to ensure that information
 required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized
 and reported within the required time periods and that information required to be
 disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant&#146;s management, including its
 principal executive and principal financial officers, as appropriate to allow timely
 decisions regarding required disclosure.</font></p>
<p><font face="Times New Roman" size="2">(b) There were no changes in the Registrant&#146;s internal control over financial reporting (as defined in Rule 30a-3(d) under
 the Act) during the Registrant&#146;s last fiscal quarter that have materially affected,
 or are reasonably likely to materially affect, the internal control over financial
 reporting.</font></p>
<p><font face="Times New Roman" size="2">Item 3 - Exhibits<br>Certifications pursuant
 to Rule 30a-2(a) under the Act are attached hereto.</font></p>
<p><hr size="2" noshade color="gray"></p>
<br clear="all" style="page-break-before:always;">
<!--page-->
<p><font face="Times New Roman" size="2">SIGNATURES</font></p>
<p><font face="Times New Roman" size="2">Pursuant to the requirements of the Securities
 Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has
 duly caused this report to be signed on its behalf by the undersigned, thereunto
 duly authorized.</font></p>
<p><font face="Times New Roman" size="2">Royce Micro-Cap Trust, Inc.<br>By:</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="55%">
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">/s/ Christopher
 D. Clark</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Times New Roman">&#160;</font></td>
</tr>
<tr>
<td nowrap width="30%" valign="bottom" align="left"><font face="Times New Roman" size="2">Christopher
 D. Clark</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap colspan="2" valign="bottom" align="left"><font face="Times New Roman" size="2">President,
 Royce Micro-Cap Trust, Inc.</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Date: November
 20, 2015</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
</table>
<p><font face="Times New Roman" size="2">Pursuant to the requirements of the Securities
 Exchange Act of 1934 and the Investment Company Act of 1940, this report has been
 signed below by the following persons on behalf of the Registrant and in the capacities
 and on the dates indicated.</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="60%">
<tr>
<td width="30%" valign="bottom" align="left"><font face="Times New Roman" size="2">By:</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">/s/ Christopher
 D. Clark</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Times New Roman">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Christopher
 D. Clark</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" colspan="2" align="left"><font face="Times New Roman" size="2">
President, Royce Micro-Cap Trust, Inc.</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Date: November
 20, 2015</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">By:</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">/s/ Peter
 K. Hoglund</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" style="border-top: 1px solid #000000;">&#160;</td>
<td><font face="Times New Roman">&#160;</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Peter K. Hoglund</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" colspan="2" align="left"><font face="Times New Roman" size="2">
Treasurer, Royce Micro-Cap Trust, Inc.</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Date: November
 20, 2015</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
</table>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>e38015_ex99cert_rmt-nq.htm
<TEXT>
<p><font face="Times New Roman" size="2">CERTIFICATION</font></p>
<p><font face="Times New Roman" size="2">I, Christopher D. Clark, certify that:</font></p>
<p><font face="Times New Roman" size="2">1. I have reviewed this report on Form N-Q
 of Royce Micro-Cap Trust, Inc.;</font></p>
<p><font face="Times New Roman" size="2">2. Based on my knowledge, this report does
 not contain any untrue statement of a material fact or omit to state a material
 fact necessary to make the statements made, in light of the circumstances under
 which such statements were made, not misleading with respect to the period covered
 by this report;</font></p>
<p><font face="Times New Roman" size="2">3. Based on my knowledge, the schedule of
 investments included in this report, fairly present in all material respects the
 investments of the Registrant as of the fiscal quarter for which the report is filed;</font></p>
<p><font face="Times New Roman" size="2">4. The Registrant&#146;s other certifying
 officer(s) and I are responsible for establishing and maintaining disclosure controls
 and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
 under the Investment Company Act of 1940) for the Registrant and have:</font></p>
<p><font face="Times New Roman" size="2">(a) Designed such disclosure controls and
 procedures, or caused such disclosure controls and procedures to be designed under
 our supervision, to ensure that material information relating to the Registrant,
 including its consolidated subsidiaries, is made known to us by others within those
 entities, particularly during the period in which this report is being prepared;</font></p>
<p><font face="Times New Roman" size="2">(b) Designed such internal control over
 financial reporting, or caused such internal control over financial reporting to
 be designed under our supervision, to provide reasonable assurance regarding the
 reliability of financial reporting and the preparation of financial statements for
 external purposes in accordance with generally accepted accounting principles;</font></p>
<p><font face="Times New Roman" size="2">(c) Evaluated the effectiveness of the Registrant&#146;s disclosure controls and procedures and presented in this report our conclusions
 about the effectiveness of the disclosure controls and procedures, as of a date
 within 90 days prior to the filing date of this report based on such evaluation;
 and</font></p>
<p><font face="Times New Roman" size="2">(d) Disclosed in this report any change
 in the Registrant&#146;s internal control over financial reporting that occurred
 during the Registrant&#146;s most recent fiscal quarter that has materially affected,
 or is reasonably likely to materially affect, the Registrant&#146;s internal control
 over financial reporting; and</font></p>
<br clear="all" style="page-break-before:always;">
<!--page-->
<p><font face="Times New Roman" size="2">5. The Registrant&#146;s other certifying
 officer(s) and I have disclosed to the Registrant&#146;s auditors and the audit
 committee of the Registrant&#146;s board of directors (or persons performing the
 equivalent functions):</font></p>
<p><font face="Times New Roman" size="2">(a) All significant deficiencies and material
 weaknesses in the design or operation of internal control over financial reporting
 which are reasonably likely to adversely affect the Registrant&#146;s ability to
 record, process, summarize, and report financial information; and</font></p>
<p><font face="Times New Roman" size="2">(b) Any fraud, whether or not material,
 that involves management or other employees who have a significant role in the Registrant&#146;s internal control over financial reporting.</font></p>
<p><font face="Times New Roman" size="2">Date: November 20, 2015</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="18%">
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">/s/ Christopher
 D. Clark</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" style="border-top: 1px solid #000000;">&#160;</td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Christopher
 D. Clark</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">President</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Royce Micro-Cap
 Trust, Inc.</font></td>
</tr>
</table>
<br clear="all" style="page-break-before:always;">
<!--page-->
<p><font face="Times New Roman" size="2">CERTIFICATION</font></p>
<p><font face="Times New Roman" size="2">I, Peter K. Hoglund, certify that:</font></p>
<p><font face="Times New Roman" size="2">1. I have reviewed this report on Form N-Q
 of Royce Micro-Cap Trust, Inc.;</font></p>
<p><font face="Times New Roman" size="2">2. Based on my knowledge, this report does
 not contain any untrue statement of a material fact or omit to state a material
 fact necessary to make the statements made, in light of the circumstances under
 which such statements were made, not misleading with respect to the period covered
 by this report;</font></p>
<p><font face="Times New Roman" size="2">3. Based on my knowledge, the schedule of
 investments included in this report, fairly present in all material respects the
 investments of the Registrant as of the fiscal quarter for which the report is filed;</font></p>
<p><font face="Times New Roman" size="2">4. The Registrant&#146;s other certifying
 officer(s) and I are responsible for establishing and maintaining disclosure controls
 and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
 under the Investment Company Act of 1940) for the Registrant and have:</font></p>
<p><font face="Times New Roman" size="2">(a) Designed such disclosure controls and
 procedures, or caused such disclosure controls and procedures to be designed under
 our supervision, to ensure that material information relating to the Registrant,
 including its consolidated subsidiaries, is made known to us by others within those
 entities, particularly during the period in which this report is being prepared;</font></p>
<p><font face="Times New Roman" size="2">(b) Designed such internal control over
 financial reporting, or caused such internal control over financial reporting to
 be designed under our supervision, to provide reasonable assurance regarding the
 reliability of financial reporting and the preparation of financial statements for
 external purposes in accordance with generally accepted accounting principles;</font></p>
<p><font face="Times New Roman" size="2">(c) Evaluated the effectiveness of the Registrant&#146;s disclosure controls and procedures and presented in this report our conclusions
 about the effectiveness of the disclosure controls and procedures, as of a date
 within 90 days prior to the filing date of this report based on such evaluation;
 and</font></p>
<p><font face="Times New Roman" size="2">(d) Disclosed in this report any change
 in the Registrant&#146;s internal control over financial reporting that occurred
 during the Registrant&#146;s most recent fiscal quarter that has materially affected,
 or is reasonably likely to materially affect, the Registrant&#146;s internal control
 over financial reporting; and</font></p>
<br clear="all" style="page-break-before:always;">
<!--page-->
<p><font face="Times New Roman" size="2">5. The Registrant&#146;s other certifying
 officer(s) and I have disclosed to the Registrant&#146;s auditors and the audit
 committee of the Registrant&#146;s board of directors (or persons performing the
 equivalent functions):</font></p>
<p><font face="Times New Roman" size="2">(a) All significant deficiencies and material
 weaknesses in the design or operation of internal controls over financial reporting
 which are reasonably likely to adversely affect the Registrant&#146;s ability to
 record, process, summarize, and report financial information; and</font></p>
<p><font face="Times New Roman" size="2">(b) Any fraud, whether or not material,
 that involves management or other employees who have a significant role in the Registrant&#146;s internal control over financial reporting.</font></p>
<p><font face="Times New Roman" size="2">Date: November 20, 2015</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="18%">
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">/s/ Peter
 K. Hoglund</font></td>
</tr>
<tr style="font-size:1px;">
<td valign="bottom" style="border-top: 1px solid #000000;">&#160;</td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Peter K. Hoglund</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Treasurer</font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Royce Micro-Cap
 Trust, Inc.</font></td>
</tr>
</table>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
