Glacier Peak Capital 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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
Ashford Hospitality Trust, Inc.	Common Stocks	044103109	141	22,000	SH		SOLE		22,000	0	0
Ashford Inc.	Common Stocks	044104107	4,292	56,570	SH		SOLE		56,570	0	0
TD Ameritrade Holding Corporation	Common Stocks	87236Y108	1,532	29,000	SH		SOLE		29,000	0	0
Alibaba Group Holding Ltd. Sponsored ADR	Common Stocks	01609W102	2,145	13,019	SH		SOLE		13,019	0	0
Bank of America Corp	Common Stocks	060505104	1,831	62,169	SH		SOLE		62,169	0	0
Berkshire Hathaway Inc. Class B	Common Stocks	084670702	1,889	8,824	SH		SOLE		8,824	0	0
Citizens Financial Group, Inc.	Common Stocks	174610105	491	12,738	SH		SOLE		12,738	0	0
Core Laboratories NV	Common Stocks	N22717107	1,969	17,000	SH		SOLE		17,000	0	0
Colony Capital, Inc. Class A	Miscellaneous Equities	19626G108	280	46,000	SH		SOLE		46,000	0	0
Diamond Offshore Drilling, Inc.	Common Stocks	25271C102	3,977	198,855	SH		SOLE		198,855	0	0
Eagle Bancorp Montana, Inc.	Common Stocks	26942G100	6,061	333,919	SH		SOLE		333,919	0	0
Ensco plc Class A	Common Stocks	G3157S106	5,036	596,675	SH		SOLE		596,675	0	0
Facebook, Inc. Class A	Common Stocks	30303M102	724	4,405	SH		SOLE		4,405	0	0
GDL Fund	Mutual Fund	361570104	553	60,884	SH		SOLE		60,884	0	0
VanEck Vectors Gold Miners ETF	Miscellaneous Equities	92189F106	5,505	297,228	SH		SOLE		297,228	0	0
VanEck Vectors Gold Miners ETF	Miscellaneous Equities	92189F106	1,111	60,000	SH	Call	SOLE		60,000	0	0
VanEck Vectors Junior Gold Miners ETF	Miscellaneous Equities	92189F791	2,502	91,430	SH		SOLE		91,430	0	0
Great Elm Capital Group, Inc.	Common Stocks	39036P209	3,118	959,410	SH		SOLE		959,410	0	0
Alphabet Inc. Class A	Common Stocks	02079K305	2,414	2,000	SH		SOLE		2,000	0	0
Halcon Resources Corp	Common Stocks	40537Q605	302	67,500	SH	Call	SOLE		67,500	0	0
iShares Core MSCI Emerging Markets ETF	Miscellaneous Equities	46434G103	1,067	20,605	SH		SOLE		20,605	0	0
SPDR S&P Regional Banking ETF	Miscellaneous Equities	78464A698	3,054	51,400	SH		SOLE		51,400	0	0
KraneShares CSI China Internet ETF	Miscellaneous Equities	500767306	536	10,975	SH		SOLE		10,975	0	0
Kayne Anderson MLP/Midstream Investment Company	Miscellaneous Equities	486606106	553	31,000	SH		SOLE		31,000	0	0
Liberty Global Plc Class C	Common Stocks	G5480U120	375	13,307	SH		SOLE		13,307	0	0
Loral Space & Communications Inc.	Common Stocks	543881106	1,660	36,572	SH		SOLE		36,572	0	0
McDermott International, Inc.	Common Stocks	580037703	1,861	101,000	SH	Call	SOLE		101,000	0	0
Noble Corporation plc	Common Stocks	G65431101	562	80,000	SH		SOLE		80,000	0	0
Och-Ziff Capital Management Group LLC Class A	Miscellaneous Equities	67551U105	5,157	3,484,756	SH		SOLE		3,484,756	0	0
Rowan Cos. Plc Class A	Miscellaneous Equities	G7665A101	1,883	100,000	SH		SOLE		100,000	0	0
Reading International, Inc. Class A	Common Stocks	755408101	243	15,405	SH		SOLE		15,405	0	0
Transocean Ltd.	Common Stocks	H8817H100	3,793	271,927	SH		SOLE		271,927	0	0
Schwab International Equity ETF	Miscellaneous Equities	808524805	1,298	38,716	SH		SOLE		38,716	0	0
Charles Schwab Corporation	Common Stocks	808513105	4,232	86,110	SH		SOLE		86,110	0	0
Tidewater Inc	Common Stocks	88642R109	2,243	71,915	SH		SOLE		71,915	0	0
Vanguard Small-Cap ETF	Miscellaneous Equities	922908751	280	1,720	SH		SOLE		1,720	0	0
Vanguard Short-Term Corporate Bond ETF	Miscellaneous Equities	92206C409	2,390	30,578	SH		SOLE		30,578	0	0
Vanguard Mid-Cap ETF	Miscellaneous Equities	922908629	268	1,634	SH		SOLE		1,634	0	0
Vanguard Large-Cap ETF	Miscellaneous Equities	922908637	1,479	11,079	SH		SOLE		11,079	0	0
Volt Information Sciences, Inc.	Common Stocks	928703107	9,265	2,406,584	SH		SOLE		2,406,584	0	0
SPDR S&P Oil & Gas Equipment & Services ETF	Miscellaneous Equities	78464A748	2,448	146,412	SH		SOLE		146,412	0	0
Financial Select Sector SPDR Fund	Miscellaneous Equities	81369Y605	493	17,859	SH		SOLE		17,859	0	0
Yatra Online, Inc.	Common Stocks	G98338109	61	10,931	SH		SOLE		10,931	0	0
Zions Bancorporation, N.A.	Common Stocks	989701107	552	11,000	SH		SOLE		11,000	0	0