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 9,668 991,600 SH   SOLE   991,600 0 0
RENT A CENTER INC COM 76009C100 9,497 1,100,500 SH   SOLE   1,100,500 0 0
MICRON TECHNOLOGY INC COM 595112103 6,311 121,057 SH   SOLE   121,057 0 0
READING INTERNATIONAL INC CL A 755408101 6,187 371,600 SH   SOLE   371,600 0 0
NOODLES & COMPANY CLASS A COM CL A 65540B105 4,937 654,000 SH   SOLE   654,000 0 0
ALPHABET INC. CLASS C CAP STK CL C 02079K107 4,835 4,687 SH   SOLE   4,687 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 4,515 215,000 SH   SOLE   215,000 0 0
BUNGE LIMITED COM G16962105 4,443 60,100 SH   SOLE   60,100 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 4,232 151,004 SH   SOLE   151,004 0 0
L S B INDUSTRIES INC COM 502160104 3,568 582,131 SH   SOLE   582,131 0 0
ATENTO SA F SHS L0427L105 3,399 435,785 SH   SOLE   435,785 0 0
LIONS GATE ENTMT F CLASS B CL B NON VTG 535919500 3,216 133,575 SH   SOLE   133,575 0 0
PANDORA MEDIA INC COM 698354107 3,102 616,800 SH   SOLE   616,800 0 0
APPLE INC COM 037833100 3,086 18,398 SH   SOLE   18,398 0 0
DISH NETWORK CORP CLASS A CL A 25470M109 3,052 80,555 SH   SOLE   80,555 0 0
JAMES FINANCIAL GRP COM 470299108 2,726 178,318 SH   SOLE   178,318 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 2,668 113,565 SH   SOLE   113,565 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 2,597 94,453 SH   SOLE   94,453 0 0
ALLY FINANCIAL INC COM 02005N100 2,260 83,250 SH   SOLE   83,250 0 0
BARNES & NOBLE COM 067770101 297 444,000 SH   SOLE   444,000 0 0
TIME WARNER INC COM NEW 887317303 2,185 23,105 SH   SOLE   23,105 0 0
HOMETOWN BANKSHARES COM 43787N108 2,060 172,584 SH   SOLE   172,584 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 2,005 61,520 SH   SOLE   61,520 0 0
SCHWAB US DIVIDEND EQUITY ETF US DIVIDEND EQ 808524797 1,977 40,322 SH   SOLE   40,322 0 0
LEUCADIA NATIONAL CO COM 527288104 1,952 40,936 SH   SOLE   40,936 0 0
CONIFER HLDGS INC COM 20731J102 1,927 329,440 SH   SOLE   329,440 0 0
HARTE-HANKS INCORPOR COM 416196103 1,911 208,782 SH   SOLE   208,782 0 0
DRIVE SHACK INC CL A 526057104 1,816 380,000 SH   SOLE   380,000 0 0
NORTHWEST PIPE COMP COM 667746101 1,804 104,303 SH   SOLE   104,303 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 1,773 138,550 SH   SOLE   138,550 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,647 30,050 SH   SOLE   30,050 0 0
CODORUS VY BANCORP INC COM 192025104 1,628 57,904 SH   SOLE   57,904 0 0
HOSTESS BRANDS INC CL A 44109J106 1,597 108,000 SH   SOLE   108,000 0 0
FEDERAL AGRIC MTG CORP CL C 313148306 1,587 18,246 SH   SOLE   18,246 0 0
DOVER MOTORSPORTS INC COM 260174107 1,584 754,500 SH   SOLE   754,500 0 0
SALISBURY BANCORP INC COM 795226109 1,536 34,140 SH   SOLE   34,140 0 0
MADISON SQUARE GARDE CLASS A CL A 55825T103 1,515 6,166 SH   SOLE   6,166 0 0
LIONS GATE ENTMT F CLASS A CL B NON VTG 535919401 1,511 58,500 SH   SOLE   58,500 0 0
SCHWAB US LARGE CAP ETF US LRG CAP ETF 808524201 1,398 22,168 SH   SOLE   22,168 0 0
PSB HOLDINGS INC COM 69360W108 1,322 19,099 SH   SOLE   19,099 0 0
ALLERGAN PLC F SHS G0177J108 1,320 7,848 SH   SOLE   7,848 0 0
CITIGROUP INC COM NEW 172967424 1,302 19,294 SH   SOLE   19,294 0 0
LENNAR CORP CLASS CL B 526057302 1,296 22,000 SH   SOLE   22,000 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 1,188 41,250 SH   SOLE   41,250 0 0
SELECT BANCORP INC NEW COM 81617L108 1,181 88,442 SH   SOLE   88,442 0 0
KINGSTONE COS INC COM 496719105 1,115 66,378 SH   SOLE   66,378 0 0
GASTAR EXPORATION COM 36729W202 1,100 1,612,600 SH   SOLE   1,612,600 0 0
JOHNSON & JOHNSON COM 478160104 1,096 8,558 SH   SOLE   8,558 0 0
CATERPILLAR INC DEL COM 149123101 1,063 7,216 SH   SOLE   7,216 0 0
SMARTFINANCIAL INC COM NEW 83190L208 1,036 44,000 SH   SOLE   44,000 0 0
STEWARDSHIP FINL CO COM 860326107 1,035 94,100 SH   SOLE   94,100 0 0
FIRST FNDTN INC COM 32026V104 909 49,050 SH   SOLE   49,050 0 0
A T & T INC COM 00206R102 892 25,032 SH   SOLE   25,032 0 0
PURECYCLE CORP COM NEW 746228303 877 92,893 SH   SOLE   92,893 0 0
PORTER BANCORP INC COM NEW 736233206 826 60,328 SH   SOLE   60,328 0 0
SOUTHWESTERN ENERGY COM 845467909 798 184,500 SH   SOLE   184,500 0 0
PFIZER INC COM 717081103 771 21,750 SH   SOLE   21,750 0 0
NORTHEAST BANCORP COM NEW 663904209 732 35,725 SH   SOLE   35,725 0 0
O2MICRO INTERNATIONAL LTD SPONS ADR 67107W100 698 539,869 SH   SOLE   539,869 0 0
FRESH DEL MONTE PRODUCE INC ORD G36738105 678 15,000 SH   SOLE   15,000 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 670 73,000 SH   SOLE   73,000 0 0
CORCEPT THERAPEUTICS COM 218352102 658 40,000 SH   SOLE   40,000 0 0
SEACHANGE INTL INC COM 811699107 655 242,000 SH   SOLE   242,000 0 0
HAIN CELESTIAL GROUP INC. COM 405217100 615 19,200 SH   SOLE   19,200 0 0
ROYAL GOLD INC COM 780287108 601 7,010 SH   SOLE   7,010 0 0
BLUEROCK RESIDENTIAL REIT COM CL A 09627J102 575 67,690 SH   SOLE   67,690 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 559 22,224 SH   SOLE   22,224 0 0
ALASKA COMMUNICATIONS SYS GR COM 01167P101 552 310,000 SH   SOLE   310,000 0 0
HEXCEL CORP NEW COM 428291108 552 8,550 SH   SOLE   8,550 0 0
SCHWAB INTERNATIONAL EQUITY ETF INTL EQTY ETF 808524805 538 15,960 SH   SOLE   15,960 0 0
FS BANCORP INC. COM 30263Y104 535 10,000 SH   SOLE   10,000 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 406 3,700 SH   SOLE   3,700 0 0
EXXON MOBIL CORP COM 30231G102 398 5,339 SH   SOLE   5,339 0 0
ISHARES TR DOW JONES US ETF 464287846 383 2,900 SH   SOLE   2,900 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 358 1,050 SH   SOLE   1,050 0 0
WASTE MGMT INC DEL COM 94106L109 340 4,050 SH   SOLE   4,050 0 0
SCHWAB EMERGING MARKETS EQUITY ETF EMRG MKTEQ ETF 808524706 332 11,591 SH   SOLE   11,591 0 0
ALPHABET INC. CLASS A CAP STK CL A 02079K305 315 304 SH   SOLE   304 0 0
COCA COLA CO COM 191216100 273 6,300 SH   SOLE   6,300 0 0
VEREIT INC REIT COM 92339V100 269 38,700 SH   SOLE   38,700 0 0
BANCORP INC DEL COM 05969A105 259 24,000 SH   SOLE   24,000 0 0
MONDELEZ INTL INC CL A 609207105 250 6,000 SH   SOLE   6,000 0 0
IPASS INC COM 46261V108 247 650,000 SH   SOLE   650,000 0 0
CASELLA WASTE SYS INC CL A 147448104 233 10,000 SH   SOLE   10,000 0 0
TEMPUR SEALY INTL COM 88023U101 226 5,000 SH   SOLE   5,000 0 0
INTERNAP CORP COM 45885A300 225 20,500 SH   SOLE   20,500 0 0
ATLAS FINANCIAL F CALL G06207905 207 20,000 SH   SOLE   20,000 0 0
SCHWAB INTERNATNAL SMALL CAP EQY ETF INTL SCEQT ETF 808524888 203 5,565 SH   SOLE   5,565 0 0
PROCTER & GAMBLE CO COM 742718109 186 2,350 SH   SOLE   2,350 0 0
HOMETRUST BANCSHARES COM 437872104 182 7,000 SH   SOLE   7,000 0 0
CUI GLOBAL INC COM NEW 126576206 177 68,427 SH   SOLE   68,427 0 0
ISHARES MSCI STH KOR ETF 464286772 174 2,310 SH   SOLE   2,310 0 0
BROOKDALE SENIOR LIV COM 112463104 167 25,000 SH   SOLE   25,000 0 0
CHERRY HILL MTG INVT CORP COM 164651101 161 9,200 SH   SOLE   9,200 0 0
BLACKHAWK NETWORK COM 09238E104 151 5,500 SH   SOLE   5,500 0 0
INVESTORS BANCORP INC NEW COM 46146L101 150 11,000 SH   SOLE   11,000 0 0
WAL-MART STORES INC COM NEW 931142103 142 1,600 SH   SOLE   1,600 0 0
EDGEWELL PERS CARE CO COM 28035Q102 122 2,500 SH   SOLE   2,500 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 108 350 SH   SOLE   350 0 0
VOYA PRIME RATE TR SH BEN INT 92913A100 104 2,000 SH   SOLE   2,000 0 0
ARLINGTON ASSET INVT CLASS A CL A NEW 041356205 89 8,100 SH   SOLE   8,100 0 0
HORIZON BANCORP IND COM 440407104 81 2,700 SH   SOLE   2,700 0 0
COLONY BANKCORP INC COM 19623P101 75 44,682 SH   SOLE   44,682 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 49 760 SH   SOLE   760 0 0
CLIFTON BANCORP INC COM 186873105 46 3,000 SH   SOLE   3,000 0 0
AEROJET ROCKETDYNE H COM 007800105 46 1,675 SH   SOLE   1,675 0 0
COLONY NORTHSTAR INC CALL 19625W904 34 6,120 SH   SOLE   6,120 0 0
CHURCH & DWIGHT CO COM 171340102 30 600 SH   SOLE   600 0 0
PACIFIC PREMIER BANCORP COM 69478X105 10 266 SH   SOLE   266 0 0