The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
RED LION HOTELS CORP COM 756764106 12,863 1,305,981 SH   SOLE   1,305,981 0 0
READING INTERNATIONAL INC CL A 755408101 6,659 398,750 SH   SOLE   398,750 0 0
RENT A CENTER INC COM 76009C100 6,093 549,000 SH   SOLE   549,000 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 5,968 278,000 SH   SOLE   278,000 0 0
MICRON TECHNOLOGY INC COM 595112103 5,258 127,877 SH   SOLE   127,877 0 0
L S B INDUSTRIES INC COM 502160104 5,181 591,481 SH   SOLE   591,481 0 0
ALPHABET INC. CLASS C CAP STK CL C 02079K107 5,025 4,803 SH   SOLE   4,803 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 4,495 161,704 SH   SOLE   161,704 0 0
PFIZER INC COM 717081103 4,488 123,930 SH   SOLE   123,930 0 0
ATENTO SA F SHS L0427L105 4,420 435,548 SH   SOLE   435,548 0 0
NOODLES & COMPANY CLASS A COM CL A 65540B105 4,248 809,170 SH   SOLE   809,170 0 0
LIONS GATE ENTMT F CLASS B CL B NON VTG 535919500 4,225 133,125 SH   SOLE   133,125 0 0
DISH NETWORK CORP CLASS A CL A 25470M109 4,087 85,605 SH   SOLE   85,605 0 0
APPLE INC COM 037833100 3,116 18,415 SH   SOLE   18,415 0 0
BARNES & NOBLE COM 067770101 2,974 444,000 SH   SOLE   444,000 0 0
ALLY FINANCIAL INC COM 02005N100 2,821 96,750 SH   SOLE   96,750 0 0
JAMES FINANCIAL GRP COM 470299108 2,744 179,817 SH   SOLE   179,817 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 2,975 78,470 SH   SOLE   78,470 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 2,512 114,215 SH   SOLE   114,215 0 0
DRIVE SHACK INC CL A 526057104 2,433 440,000 SH   SOLE   440,000 0 0
WELBILT INC COM 949090104 2,233 9,500 SH   SOLE   9,500 0 0
CONIFER HLDGS INC COM 20731J102 2,230 384,540 SH   SOLE   384,540 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 2,200 102,753 SH   SOLE   102,753 0 0
TIME WARNER INC COM NEW 887317303 2,150 23,505 SH   SOLE   23,505 0 0
LENNAR CORP CLASS CL B 526057302 2,144 41,505 SH   SOLE   41,505 0 0
KINGSTONE COS INC COM 496719105 2,199 112,757 SH   SOLE   112,757 0 0
NORTHWEST PIPE COMP COM 667746101 2,064 107,843 SH   SOLE   107,843 0 0
SCHWAB US DIVIDEND EQUITY ETF US DIVIDEND EQ 808524797 2,063 40,335 SH   SOLE   40,335 0 0
HARTE-HANKS INCORPOR COM 416196103 1,994 2,102,823 SH   SOLE   2,102,823 0 0
LIONS GATE ENTMT F CLASS A CL B NON VTG 535919401 1,977 58,500 SH   SOLE   58,500 0 0
HOMETOWN BANKSHARES COM 43787N108 1,965 175,884 SH   SOLE   175,884 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,878 33,550 SH   SOLE   33,550 0 0
HOSTESS BRANDS INC CL A 44109J106 1,821 123,000 SH   SOLE   123,000 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 1,691 143,350 SH   SOLE   143,350 0 0
SALISBURY BANCORP INC COM 795226109 1,684 37,724 SH   SOLE   37,724 0 0
SELECT BANCORP INC NEW COM 81617L108 1,637 129,642 SH   SOLE   129,642 0 0
ALLERGAN PLC F SHS G0177J108 1,634 9,993 SH   SOLE   9,993 0 0
CITIGROUP INC COM NEW 172967424 1,549 20,825 SH   SOLE   20,825 0 0
CODORUS VY BANCORP INC COM 192025104 1,520 55,230 SH   SOLE   55,230 0 0
BLACKHAWK NETWORK COM 09238E104 1,515 42,500 SH   SOLE   42,500 0 0
WAL-MART STORES INC COM NEW 931142103 1,491 15,100 SH   SOLE   15,100 0 0
GASTAR EXPORATION COM 36729W202 1,482 1,411,600 SH   SOLE   1,411,600 0 0
SCHWAB US LARGE CAP ETF US LRG CAP ETF 808524201 1,473 23,103 SH   SOLE   23,103 0 0
DOVER MOTORSPORTS INC COM 260174107 1,471 754,500 SH   SOLE   754,500 0 0
FEDERAL AGRIC MTG CORP CL C 313148306 1,458 18,646 SH   SOLE   18,646 0 0
PSB HOLDINGS INC COM 69360W108 1,317 19,099 SH   SOLE   19,099 0 0
JOHNSON & JOHNSON COM 478160104 1,287 9,212 SH   SOLE   9,212 0 0
HEXCEL CORP NEW COM 428291108 1,271 20,550 SH   SOLE   20,550 0 0
ORBOTECH LTD ORD M75253100 1,229 24,475 SH   SOLE   24,475 0 0
PURECYCLE CORP COM NEW 746228303 1,138 136,395 SH   SOLE   136,395 0 0
CATERPILLAR INC DEL COM 149123101 1,137 7,216 SH   SOLE   7,216 0 0
STEWARDSHIP FINL CO COM 860326107 1,112 108,500 SH   SOLE   108,500 0 0
SOUTHWESTERN ENERGY COM 845467909 1,086 194,800 SH   SOLE   194,800 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 1,085 42,150 SH   SOLE   42,150 0 0
A T & T INC COM 00206R102 1,030 26,500 SH   SOLE   26,500 0 0
EDGEWELL PERS CARE CO COM 28035Q102 1,009 17,000 SH   SOLE   17,000 0 0
BANCORP INC DEL COM 05969A105 968 98,000 SH   SOLE   98,000 0 0
SMARTFINANCIAL INC COM NEW 83190L208 954 44,000 SH   SOLE   44,000 0 0
FIRST FNDTN INC COM 32026V104 937 50,550 SH   SOLE   50,550 0 0
NORTHEAST BANCORP COM NEW 663904209 919 39,725 SH   SOLE   39,725 0 0
O2MICRO INTERNATIONAL LTD SPONS ADR 67107W100 866 519,369 SH   SOLE   519,369 0 0
BLUEROCK RESIDENTIAL REIT COM CL A 09627J102 783 77,490 SH   SOLE   77,490 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 756 75,000 SH   SOLE   75,000 0 0
FRESH DEL MONTE PRODUCE INC ORD G36738105 724 15,200 SH   SOLE   15,200 0 0
CORCEPT THERAPEUTICS COM 218352102 722 40,000 SH   SOLE   40,000 0 0
SCHWAB INTERNATIONAL EQUITY ETF INTL EQTY ETF 808524805 706 20,738 SH   SOLE   20,738 0 0
COLONY BANKCORP INC COM 19623P101 650 44,682 SH   SOLE   44,682 0 0
SEACHANGE INTL INC COM 811699107 613 156,200 SH   SOLE   156,200 0 0
ROYAL GOLD INC COM 780287108 585 7,130 SH   SOLE   7,130 0 0
CALAVO GROWERS INC COM 128246105 548 6,500 SH   SOLE   6,500 0 0
EXXON MOBIL CORP COM 30231G102 505 6,039 SH   SOLE   6,039 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 491 22,224 SH   SOLE   22,224 0 0
BROOKDALE SENIOR LIV COM 112463104 485 50,000 SH   SOLE   50,000 0 0
CARRIZO OIL & GAS COM 144577103 468 22,000 SH   SOLE   22,000 0 0
ISHARES TR DOW JONES US ETF 464287846 440 3,300 SH   SOLE   3,300 0 0
ALASKA COMMUNICATIONS SYS GR COM 01167P101 428 160,000 SH   SOLE   160,000 0 0
WASTE MGMT INC DEL COM 94106L109 414 4,800 SH   SOLE   4,800 0 0
ATLAS FINANCIAL F CALL G06207905 411 20,000 SH   SOLE   20,000 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 389 3,700 SH   SOLE   3,700 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 362 1,050 SH   SOLE   1,050 0 0
INTERNAP CORP COM 45885A300 329 21,000 SH   SOLE   21,000 0 0
COCA COLA CO COM 191216100 318 6,950 SH   SOLE   6,950 0 0
TEMPUR SEALY INTL COM 88023U101 313 5,000 SH   SOLE   5,000 0 0
MADISON SQUARE GARDE CLASS A CL A 55825T103 309 1,466 SH   SOLE   1,466 0 0
SCHWAB EMERGING MARKETS EQUITY ETF EMRG MKTEQ ETF 808524706 294 10,536 SH   SOLE   10,536 0 0
CUI GLOBAL INC COM NEW 126576206 284 103,427 SH   SOLE   103,427 0 0
CASELLA WASTE SYS INC CL A 147448104 276 12,000 SH   SOLE   12,000 0 0
HOMETRUST BANCSHARES COM 437872104 270 10,500 SH   SOLE   10,500 0 0
LEUCADIA NATIONAL CO COM 527288104 264 10,000 SH   SOLE   10,000 0 0
MONDELEZ INTL INC CL A 609207105 256 6,000 SH   SOLE   6,000 0 0
PROCTER & GAMBLE CO COM 742718109 215 2,342 SH   SOLE   2,342 0 0
VEREIT INC REIT COM 92339V100 211 27,200 SH   SOLE   27,200 0 0
AMERICAN RIVIERA BK COM 029326105 197 10,000 SH   SOLE   10,000 0 0
ISHARES MSCI STH KOR ETF 464286772 173 2,310 SH   SOLE   2,310 0 0
INVESTORS BANCORP INC NEW COM 46146L101 152 11,000 SH   SOLE   11,000 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 117 350 SH   SOLE   350 0 0
VOYA PRIME RATE TR SH BEN INT 92913A100 101 20,000 SH   SOLE   20,000 0 0
ARLINGTON ASSET INVT CLASS A CL A NEW 041356205 95 8,100 SH   SOLE   8,100 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 91 1,260 SH   SOLE   1,260 0 0
COLONY NORTHSTAR INC CALL 19625W904 90 7,909 SH   SOLE   7,909 0 0
SCHWAB INTERNATNAL SMALL CAP EQY ETF INTL SCEQT ETF 808524888 78 1,121 SH   SOLE   1,121 0 0
HORIZON BANCORP IND COM 440407104 75 2,700 SH   SOLE   2,700 0 0
CHURCH & DWIGHT CO COM 171340102 60 1,200 SH   SOLE   1,200 0 0
AEROJET ROCKETDYNE H COM 007800105 52 1,675 SH   SOLE   1,675 0 0
CLIFTON BANCORP INC COM 186873105 51 3,000 SH   SOLE   3,000 0 0
PACIFIC PREMIER BANCORP COM 69478X105 38 966 SH   SOLE   966 0 0
QUALCOMM INC COM 747525103 32 500 SH   SOLE   500 0 0
CALPINE CORP COM NEW 131347304 30 2,000 SH   SOLE   2,000 0 0