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 |
CONNECTONE BANCORP INC NEW | COM | 20786W107 | 9,581 | 40,350 | SH | | SOLE | | 40,350 | 0 | 0 |
NOODLES & COMPANY CLASS A | COM CL A | 65540B105 | 9,494 | 784,696 | SH | | SOLE | | 784,696 | 0 | 0 |
RED LION HOTELS CORP | COM | 756764106 | 9,262 | 741,000 | SH | | SOLE | | 741,000 | 0 | 0 |
DISH NETWORK CORP CLASS A | CL A | 25470M109 | 7,841 | 219,270 | SH | | SOLE | | 219,270 | 0 | 0 |
READING INTERNATIONAL INC | CL A | 755408101 | 7,288 | 461,300 | SH | | SOLE | | 461,300 | 0 | 0 |
FIRST DATA CORP NEW CLASS A | COM CL A | 32008D106 | 7,252 | 296,400 | SH | | SOLE | | 296,400 | 0 | 0 |
MADISON SQUARE GARDE CLASS A | CL A | 55825T103 | 6,623 | 21,006 | SH | | SOLE | | 21,006 | 0 | 0 |
ALPHABET INC. CLASS C | CAP STK CL C | 02079K107 | 5,569 | 4,667 | SH | | SOLE | | 4,667 | 0 | 0 |
L S B INDUSTRIES INC | COM | 502160104 | 5,417 | 553,966 | SH | | SOLE | | 553,966 | 0 | 0 |
CHURCHILL DOWNS INC | COM | 171484108 | 5,165 | 18,600 | SH | | SOLE | | 18,600 | 0 | 0 |
APPLE INC | COM | 037833100 | 5,093 | 22,564 | SH | | SOLE | | 22,564 | 0 | 0 |
MICRON TECHNOLOGY INC | COM | 595112103 | 4,466 | 98,741 | SH | | SOLE | | 98,741 | 0 | 0 |
STITCH FIX INC | COM CL A | 860897107 | 3,884 | 88,750 | SH | | SOLE | | 88,750 | 0 | 0 |
SCOTTS MIRACLE GROUP | CALL | 810186906 | 3,594 | 45,650 | SH | | SOLE | | 45,650 | 0 | 0 |
KANSAS CITY SOUTHERN | COM NEW | 485170302 | 3,489 | 30,800 | SH | | SOLE | | 30,800 | 0 | 0 |
GRAFTECH INTERNATION | COM | 384313508 | 3,472 | 178,000 | SH | | SOLE | | 178,000 | 0 | 0 |
PANDORA MEDIA INC | COM | 698354107 | 3,157 | 332,000 | SH | | SOLE | | 332,000 | 0 | 0 |
JAMES FINANCIAL GRP | COM | 470299108 | 3,151 | 199,317 | SH | | SOLE | | 199,317 | 0 | 0 |
ATENTO SA F | SHS | L0427L105 | 2,968 | 395,785 | SH | | SOLE | | 395,785 | 0 | 0 |
LIONS GATE ENTMT F CLASS A | CL B NON VTG | 535919401 | 2,963 | 121,500 | SH | | SOLE | | 121,500 | 0 | 0 |
MARVELL TECHNOLOGY GROUP LTD | ORD | G5876H105 | 2,875 | 149,000 | SH | | SOLE | | 149,000 | 0 | 0 |
LIONS GATE ENTMT F CLASS B | CL B NON VTG | 535919500 | 2,872 | 123,275 | SH | | SOLE | | 123,275 | 0 | 0 |
GUARANTY FED BANCSHARES INC | COM | 40108P101 | 2,737 | 93,215 | SH | | SOLE | | 93,215 | 0 | 0 |
AMERICAN INTL GROUP | COM NEW | 026874784 | 2,392 | 44,940 | SH | | SOLE | | 44,940 | 0 | 0 |
FAUQUIER BANKSHARES | COM | 312059108 | 2,366 | 93,500 | SH | | SOLE | | 93,500 | 0 | 0 |
FACEBOOK INC CLASS A | CALL | 30303M902 | 2,284 | 13,892 | SH | | SOLE | | 13,892 | 0 | 0 |
TELEPHONE & DATA SYS INC | COM NEW | 879433829 | 2,186 | 71,850 | SH | | SOLE | | 71,850 | 0 | 0 |
ALLY FINANCIAL INC | COM | 02005N100 | 2,183 | 82,550 | SH | | SOLE | | 82,550 | 0 | 0 |
HAIN CELESTIAL GROUP INC. | COM | 405217100 | 2,126 | 78,400 | SH | | SOLE | | 78,400 | 0 | 0 |
A T & T INC | COM | 00206R102 | 2,048 | 61,014 | SH | | SOLE | | 61,014 | 0 | 0 |
SCHWAB US DIVIDEND EQUITY ETF | US DIVIDEND EQ | 808524797 | 2,042 | 38,529 | SH | | SOLE | | 38,529 | 0 | 0 |
NEWELL BRANDS INC | COM | 651229106 | 1,965 | 96,800 | SH | | SOLE | | 96,800 | 0 | 0 |
UNIVERSAL STAINLESS & ALLOY | COM | 913837100 | 1,849 | 72,490 | SH | | SOLE | | 72,490 | 0 | 0 |
CONIFER HLDGS INC | COM | 20731J102 | 1,843 | 326,355 | SH | | SOLE | | 326,355 | 0 | 0 |
DOVER MOTORSPORTS INC | COM | 260174107 | 1,814 | 844,000 | SH | | SOLE | | 844,000 | 0 | 0 |
HOMETOWN BANKSHARES | COM | 43787N108 | 1,706 | 127,320 | SH | | SOLE | | 127,320 | 0 | 0 |
CODORUS VY BANCORP INC | COM | 192025104 | 1,697 | 54,326 | SH | | SOLE | | 54,326 | 0 | 0 |
NORTHWEST PIPE COMP | COM | 667746101 | 1,694 | 85,803 | SH | | SOLE | | 85,803 | 0 | 0 |
HARTE-HANKS INCORPOR | COM | 416196103 | 1,603 | 224,902 | SH | | SOLE | | 224,902 | 0 | 0 |
LENNAR CORP CLASS | CL B | 526057302 | 1,588 | 41,257 | SH | | SOLE | | 41,257 | 0 | 0 |
LENNAR CORP CLASS B | CL B | 526057302 | 1,588 | 41,257 | SH | | SOLE | | 41,257 | 0 | 0 |
SCHWAB US LARGE CAP ETF | US LRG CAP ETF | 808524201 | 1,572 | 22,608 | SH | | SOLE | | 22,608 | 0 | 0 |
ALLERGAN PLC F | SHS | G0177J108 | 1,517 | 7,968 | SH | | SOLE | | 7,968 | 0 | 0 |
DELTA AIR LINES INC DEL | COM NEW | 247361702 | 1,448 | 25,050 | SH | | SOLE | | 25,050 | 0 | 0 |
PSB HOLDINGS INC | COM | 69360W108 | 1,440 | 52,956 | SH | | SOLE | | 52,956 | 0 | 0 |
CITIGROUP INC | COM NEW | 172967424 | 1,426 | 19,888 | SH | | SOLE | | 19,888 | 0 | 0 |
BUNGE LIMITED | COM | G16962105 | 1,346 | 19,600 | SH | | SOLE | | 19,600 | 0 | 0 |
FEDERAL AGRIC MTG CORP | CL C | 313148306 | 1,316 | 18,246 | SH | | SOLE | | 18,246 | 0 | 0 |
CHARTER COMMUNICATIONS INC D | CL A NEW | 16117M305 | 1,303 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
O2MICRO INTERNATIONAL LTD | SPONS ADR | 67107W100 | 1,282 | 55,369 | SH | | SOLE | | 55,369 | 0 | 0 |
BOJANGLES INC. | COM | 097488100 | 1,256 | 80,000 | SH | | SOLE | | 80,000 | 0 | 0 |
SALISBURY BANCORP INC | COM | 795226109 | 1,202 | 28,620 | SH | | SOLE | | 28,620 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 1,182 | 8,558 | SH | | SOLE | | 8,558 | 0 | 0 |
MID PENN BANCORP INC | COM | 59540G107 | 1,144 | 39,252 | SH | | SOLE | | 39,252 | 0 | 0 |
BARNES & NOBLE | COM | 067770101 | 1,136 | 196,000 | SH | | SOLE | | 196,000 | 0 | 0 |
T P I COMPOSITES INC | COM | 87266J104 | 1,133 | 39,700 | SH | | SOLE | | 39,700 | 0 | 0 |
SELECT BANCORP INC NEW | COM | 81617L108 | 1,131 | 91,248 | SH | | SOLE | | 91,248 | 0 | 0 |
DRIVE SHACK INC | CL A | 526057104 | 1,120 | 188,000 | SH | | SOLE | | 188,000 | 0 | 0 |
KINGSTONE COS INC | COM | 496719105 | 1,109 | 58,378 | SH | | SOLE | | 58,378 | 0 | 0 |
CATERPILLAR INC DEL | COM | 149123101 | 1,085 | 7,116 | SH | | SOLE | | 7,116 | 0 | 0 |
QUANTA SERVICES INC | COM | 74762E102 | 1,068 | 32,000 | SH | | SOLE | | 32,000 | 0 | 0 |
PURECYCLE CORP | COM NEW | 746228303 | 992 | 85,893 | SH | | SOLE | | 85,893 | 0 | 0 |
IRIDEX CORP | COM | 462684101 | 966 | 152,193 | SH | | SOLE | | 152,193 | 0 | 0 |
BANCORP INC DEL | COM | 05969A105 | 959 | 100,000 | SH | | SOLE | | 100,000 | 0 | 0 |
PFIZER INC | COM | 717081103 | 951 | 21,600 | SH | | SOLE | | 21,600 | 0 | 0 |
SOUTHWESTERN ENERGY | COM | 845467909 | 942 | 184,500 | SH | | SOLE | | 184,500 | 0 | 0 |
LEVEL ONE BANK | COM | 52730D208 | 917 | 33,000 | SH | | SOLE | | 33,000 | 0 | 0 |
STEWARDSHIP FINL CO | COM | 860326107 | 895 | 84,500 | SH | | SOLE | | 84,500 | 0 | 0 |
STEWARDSHIP FINL CO | COM | 860326107 | 895 | 84,500 | SH | | SOLE | | 84,500 | 0 | 0 |
CRAY INC | COM NEW | 225223304 | 860 | 40,000 | SH | | SOLE | | 40,000 | 0 | 0 |
LENNAR CORP CLASS A | CL A | 526057104 | 840 | 18,000 | SH | | SOLE | | 18,000 | 0 | 0 |
INDEPENDENCE RLTY TR INC | COM | 45378A106 | 758 | 72,000 | SH | | SOLE | | 72,000 | 0 | 0 |
LOVESAC CO | COM | 54738L109 | 749 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
FIRST BUS FINL SVCS INC WIS | COM | 319390100 | 746 | 32,224 | SH | | SOLE | | 32,224 | 0 | 0 |
GENERAL MOTORS CO | COM | 37045V100 | 686 | 20,400 | SH | | SOLE | | 20,400 | 0 | 0 |
BLUEROCK RESIDENTIAL REIT | COM CL A | 09627J102 | 655 | 66,890 | SH | | SOLE | | 66,890 | 0 | 0 |
BUSINESS FIRST BANCSHARE | COM | 12326C105 | 584 | 22,000 | SH | | SOLE | | 22,000 | 0 | 0 |
SCHWAB INTERNATIONAL EQUITY ETF | INTL EQTY ETF | 808524805 | 576 | 17,207 | SH | | SOLE | | 17,207 | 0 | 0 |
JEFFERIES FINL | COM | 47233W109 | 565 | 25,760 | SH | | SOLE | | 25,760 | 0 | 0 |
FS BANCORP INC. | COM | 30263Y104 | 557 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
CITY OFFICE R E I T INCO REIT | COM | 178587101 | 554 | 43,950 | SH | | SOLE | | 43,950 | 0 | 0 |
BRIDGEWATER BANCSHARES I | COM ACCD INV | 108621103 | 542 | 41,650 | SH | | SOLE | | 41,650 | 0 | 0 |
ALASKA COMMUNICATIONS SYS GR | COM | 01167P101 | 541 | 330,000 | SH | | SOLE | | 330,000 | 0 | 0 |
HEXCEL CORP NEW | COM | 428291108 | 539 | 8,050 | SH | | SOLE | | 8,050 | 0 | 0 |
ALPHABET INC. CLASS A | CAP STK CL A | 02079K305 | 517 | 429 | SH | | SOLE | | 429 | 0 | 0 |
ROYAL GOLD INC | COM | 780287108 | 510 | 6,630 | SH | | SOLE | | 6,630 | 0 | 0 |
FRESH DEL MONTE PRODUCE INC | ORD | G36738105 | 508 | 15,000 | SH | | SOLE | | 15,000 | 0 | 0 |
COUNTY BANCORP INC | COM | 221907108 | 487 | 19,441 | SH | | SOLE | | 19,441 | 0 | 0 |
EXXON MOBIL CORP | COM | 30231G102 | 447 | 5,264 | SH | | SOLE | | 5,264 | 0 | 0 |
SMARTFINANCIAL INC | COM NEW | 83190L208 | 447 | 19,000 | SH | | SOLE | | 19,000 | 0 | 0 |
ISHARES TR | DOW JONES US ETF | 464287846 | 422 | 2,900 | SH | | SOLE | | 2,900 | 0 | 0 |
NORTHEAST BANCORP | COM NEW | 663904209 | 398 | 18,375 | SH | | SOLE | | 18,375 | 0 | 0 |
HOSTESS BRANDS INC | CL A | 44109J106 | 387 | 35,000 | SH | | SOLE | | 35,000 | 0 | 0 |
SPDR S&P MIDCAP 400 ETF TR | UTSER1 S&PDCRP | 78467Y107 | 385 | 1,050 | SH | | SOLE | | 1,050 | 0 | 0 |
WASTE MGMT INC DEL | COM | 94106L109 | 338 | 3,750 | SH | | SOLE | | 3,750 | 0 | 0 |
SCHWAB EMERGING MARKETS EQUITY ETF | EMRG MKTEQ ETF | 808524706 | 331 | 12,904 | SH | | SOLE | | 12,904 | 0 | 0 |
SEACHANGE INTL INC | COM | 811699107 | 268 | 150,000 | SH | | SOLE | | 150,000 | 0 | 0 |
VEREIT INC REIT | COM | 92339V100 | 250 | 34,500 | SH | | SOLE | | 34,500 | 0 | 0 |
CASELLA WASTE SYS INC | CL A | 147448104 | 248 | 8,000 | SH | | SOLE | | 8,000 | 0 | 0 |
GORES HOLDINGS TWO I CLASS A | COM CL A | 382867109 | 212 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
PLYMOUTH INDUSTRIAL R E REIT | COM | 729640102 | 201 | 13,000 | SH | | SOLE | | 13,000 | 0 | 0 |
ATLAS FINANCIAL F | CALL | G06207905 | 197 | 19,700 | SH | | SOLE | | 19,700 | 0 | 0 |
PROCTER & GAMBLE CO | COM | 742718109 | 195 | 2,350 | SH | | SOLE | | 2,350 | 0 | 0 |
SCHWAB INTERNATNAL SMALL CAP EQY ETF | INTL SCEQT ETF | 808524888 | 187 | 5,260 | SH | | SOLE | | 5,260 | 0 | 0 |
TEMPUR SEALY INTL | COM | 88023U101 | 169 | 3,200 | SH | | SOLE | | 3,200 | 0 | 0 |
CHERRY HILL MTG INVT CORP | COM | 164651101 | 166 | 9,200 | SH | | SOLE | | 9,200 | 0 | 0 |
INTERNAP CORP | COM | 45885A300 | 157 | 12,500 | SH | | SOLE | | 12,500 | 0 | 0 |
ISHARES | MSCI STH KOR ETF | 464286772 | 151 | 2,220 | SH | | SOLE | | 2,220 | 0 | 0 |
CORCEPT THERAPEUTICS | COM | 218352102 | 140 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
CUI GLOBAL INC | COM NEW | 126576206 | 138 | 62,127 | SH | | SOLE | | 62,127 | 0 | 0 |
INVESTORS BANCORP INC NEW | COM | 46146L101 | 134 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
HOMETRUST BANCSHARES | COM | 437872104 | 110 | 3,800 | SH | | SOLE | | 3,800 | 0 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 99 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
HORIZON BANCORP IND | COM | 440407104 | 79 | 4,050 | SH | | SOLE | | 4,050 | 0 | 0 |
ARLINGTON ASSET INVT CLASS A | CL A NEW | 041356205 | 71 | 7,700 | SH | | SOLE | | 7,700 | 0 | 0 |
WALGREENS BOOTS ALLIANCE INC | COM | 931427108 | 55 | 760 | SH | | SOLE | | 760 | 0 | 0 |
MONDELEZ INTL INC | CL A | 609207105 | 42 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |