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
A T & T INC COM 00206R102 908 31,147 SH   SOLE 0 31,147 0 0
ALASKA COMMUNICATIONS SYS GR COM 01167P101 452 260,000 SH   SOLE 0 260,000 0 0
ALERUS FINL CORP COM 01446U103 357 21,600 SH   SOLE 0 21,600 0 0
ALLY FINANCIAL INC COM 02005N100 1,148 79,575 SH   SOLE 0 79,575 0 0
ALPHABET INC. CLASS A CAP STK CL A 02079K305 428 368 SH   SOLE 0 368 0 0
ALPHABET INC. CLASS C CAP STK CL C 02079K107 4,537 3,902 SH   SOLE 0 3,902 0 0
AMAZON.COM INC COM 023135106 7,828 4,015 SH   SOLE 0 4,015 0 0
APPLE INC COM 037833100 5,494 21,607 SH   SOLE 0 21,607 0 0
BANCORP INC COM 05969A105 617 101,650 SH   SOLE 0 101,650 0 0
BANKFINL CORP COM 06643P104 619 70,300 SH   SOLE 0 70,300 0 0
BLUEROCK RESIDENTIAL REIT COM CL A 09627J102 312 56,090 SH   SOLE 0 56,090 0 0
BOX INC CLASS A CL A 10316T104 1,741 124,000 SH   SOLE 0 124,000 0 0
BRIDGEWATER BANCSHARES I COM ACCD INV 108621103 711 72,918 SH   SOLE 0 72,918 0 0
BROADMARK RLTY CAP INC COM 11135B100 269 35,500 SH   SOLE 0 35,500 0 0
CATERPILLAR INC COM 149123101 826 7,116 SH   SOLE 0 7,116 0 0
CENTRAL FEDERAL CORP COM NEW PAR 15346Q400 362 34,436 SH   SOLE 0 34,436 0 0
CHURCHILL DOWNS INC COM 171484108 3,293 31,990 SH   SOLE 0 31,990 0 0
CITY OFFICE R E I T INCO REIT COM 178587101 313 43,300 SH   SOLE 0 43,300 0 0
CODORUS VY BANCORP INC COM 192025104 645 40,062 SH   SOLE 0 40,062 0 0
COMMUNITY BANKERS TR COM 203612106 246 50,728 SH   SOLE 0 50,728 0 0
CONAGRA BRANDS INC COM 205887102 1,362 46,425 SH   SOLE 0 46,425 0 0
CVS HEALTH CORP COM 126650100 3,015 50,815 SH   SOLE 0 50,815 0 0
DELTA AIR LINES INC COM NEW 247361702 257 9,000 SH   SOLE 0 9,000 0 0
DISH NETWORK CORP CLASS A CL A 25470M109 1,605 80,305 SH   SOLE 0 80,305 0 0
DOVER MOTORSPORTS INC COM 260174107 1,394 1,115,500 SH   SOLE 0 1,115,500 0 0
FACEBOOK INC CLASS A CALL 30303M902 1,915 11,478 SH   SOLE 0 11,478 0 0
FARMERS BANCORP COM 302627107 218 7,256 SH   SOLE 0 7,256 0 0
FAUQUIER BANKSHARES COM 312059108 691 51,200 SH   SOLE 0 51,200 0 0
FEDERAL AGRIC MTG CORP CL C 313148306 723 12,996 SH   SOLE 0 12,996 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 424 27,324 SH   SOLE 0 27,324 0 0
FS BANCORP INC. COM 30263Y104 644 17,900 SH   SOLE 0 17,900 0 0
G E O GROUP INC NEW REIT COM 36162J106 243 20,000 SH   SOLE 0 20,000 0 0
GRAFTECH INTERNATION COM 384313508 243 30,000 SH   SOLE 0 30,000 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 750 50,785 SH   SOLE 0 50,785 0 0
HAIN CELESTIAL GROUP INC. COM 405217100 660 25,400 SH   SOLE 0 25,400 0 0
HARTE-HANKS INCORPOR COM 416196103 342 217,817 SH   SOLE 0 217,817 0 0
HEXCEL CORP COM 428291108 262 7,050 SH   SOLE 0 7,050 0 0
IHEARTMEDIA INC CLASS A COM CL A 45174J509 1,341 183,500 SH   SOLE 0 183,500 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 603 67,400 SH   SOLE 0 67,400 0 0
JAMES FINANCIAL GRP COM 470299108 2,023 237,964 SH   SOLE 0 237,964 0 0
JOHNSON & JOHNSON COM 478160104 443 3,377 SH   SOLE 0 3,377 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 471 3,700 SH   SOLE 0 3,700 0 0
KINGSTONE COMPANIES COM 496719105 413 80,740 SH   SOLE 0 80,740 0 0
L S B INDUSTRIES INC COM 502160104 1,380 657,300 SH   SOLE 0 657,300 0 0
LENNAR CORP CLASS B CL B 526057302 950 32,860 SH   SOLE 0 32,860 0 0
LIBERTY MEDIA CORP SERIES A LIBERTY MEDIA COM SER A FRMLA 531229870 3,283 127,150 SH   SOLE 0 127,150 0 0
LIBERTY MEDIA CORP SERIES A LIBERTY SIRIUS XM COM 531229409 4,753 149,980 SH   SOLE 0 149,980 0 0
LIONS GATE ENTMT F CLASS A CL B NON VTG 535919401 505 83,000 SH   SOLE 0 83,000 0 0
MADISON SQUARE GARDE CLASS A CL A 55825T103 2,637 12,473 SH   SOLE 0 12,473 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 398 17,600 SH   SOLE 0 17,600 0 0
MASTERCARD INC CLASS A CALL 57636Q104 1,884 7,800 SH   SOLE 0 7,800 0 0
MICRON TECHNOLOGY INC COM 595112103 1,353 32,175 SH   SOLE 0 32,175 0 0
MICROSOFT CORP COM 594918104 451 2,862 SH   SOLE 0 2,862 0 0
MIDDLEFIELD BANC CO COM NEW 596304204 222 14,010 SH   SOLE 0 14,010 0 0
NAVIENT CORP COM 63938C108 493 65,000 SH   SOLE 0 65,000 0 0
NETFLIX INC COM 64110L106 2,005 5,340 SH   SOLE 0 5,340 0 0
NEWELL BRANDS INC COM 651229106 518 39,000 SH   SOLE 0 39,000 0 0
NEWMONT GOLDCORP CORP COM 651639106 294 6,500 SH   SOLE 0 6,500 0 0
NOODLES & COMPANY CLASS A COM CL A 65540B105 1,250 265,291 SH   SOLE 0 265,291 0 0
O2MICRO INTERNTNL LTD0 F SPONSORED ADR 1 ADR REPS 50 ORD SHS CALL 67107W900 452 352,000 SH   SOLE 0 352,000 0 0
PFIZER INC COM 717081103 716 21,950 SH   SOLE 0 21,950 0 0
POWERFLEET INC COM 73931J109 225 64,950 SH   SOLE 0 64,950 0 0
PSB HOLDINGS INC COM 69360W108 1,139 46,026 SH   SOLE 0 46,026 0 0
READING INTERNATIONAL INC CL A 755408101 2,165 556,443 SH   SOLE 0 556,443 0 0
RED LION HOTELS CORP COM 756764106 1,253 858,000 SH   SOLE 0 858,000 0 0
RED ROBIN GRMT BURGR COM 75689M101 682 80,000 SH   SOLE 0 80,000 0 0
SALISBURY BANCORP INC COM 795226109 1,077 34,754 SH   SOLE 0 34,754 0 0
SCHWAB EMERGING MARKETS EQUITY ETF EMRG MKTEQ ETF 808524706 273 13,179 SH   SOLE 0 13,179 0 0
SCHWAB INTERNATIONAL EQUITY ETF INTL EQTY ETF 808524805 401 15,529 SH   SOLE 0 15,529 0 0
SCHWAB US DIVIDEND EQUITY ETF US DIVIDEND EQ 808524797 1,902 42,281 SH   SOLE 0 42,281 0 0
SCHWAB US LARGE CAP ETF US LRG CAP ETF 808524201 1,113 18,173 SH   SOLE 0 18,173 0 0
SCOTTS MIRACLE GROUP CALL 810186906 256 2,500 SH   SOLE 0 2,500 0 0
SEACOAST BK CORP FLA COM 811707801 508 27,750 SH   SOLE 0 27,750 0 0
STARBUCKS CORP COM 855244109 1,528 23,237 SH   SOLE 0 23,237 0 0
STITCH FIX INC CLASS A COM CL A 860897107 1,043 82,110 SH   SOLE 0 82,110 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 2,952 176,136 SH   SOLE 0 176,136 0 0
TRAVELCENTERS AMERIC COM 894174101 1,710 174,960 SH   SOLE 0 174,960 0 0
TSAKOS ENERGY NAV F SHS G9108L108 326 100,000 SH   SOLE 0 100,000 0 0
TYSON FOODS INC CLASS A CL A 902494103 286 4,945 SH   SOLE 0 4,945 0 0
UNITEDHEALTH GRP INC COM 91324P102 399 1,600 SH   SOLE 0 1,600 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 385 50,027 SH   SOLE 0 50,027 0 0
WALT DISNEY CO COM DISNEY 254687106 305 31,556 SH   SOLE 0 31,556 0 0
WASTE MANAGEMENT INC COM 94106L109 208 2,250 SH   SOLE 0 2,250 0 0
WHEELER REIT REIT COM NEW 963025705 663 662,687 SH   SOLE 0 662,687 0 0
WW INTERNTNL INC COM 98262P101 534 31,580 SH   SOLE 0 31,580 0 0
Y R C WORLDWIDE INC COM 984249607 254 151,000 SH   SOLE 0 151,000 0 0