The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| Abbvie Inc. | COM | 00287Y109 | 267,765 | 1,507 | SH | DFND | 0 | 1,507 | 0 | ||
| Accenture PLC | COM | G1151C101 | 398,226 | 1,132 | SH | DFND | 0 | 1,132 | 0 | ||
| Adobe Systems Inc. | COM | 00724F101 | 223,674 | 503 | SH | DFND | 0 | 503 | 0 | ||
| AerSale Corp. | COM | 00810F106 | 10,025,051 | 1,591,278 | SH | DFND | 762,054 | 829,224 | 0 | ||
| Alphabet Inc. Cl A | COM | 02079K305 | 6,690,511 | 35,343 | SH | DFND | 6,700 | 28,643 | 0 | ||
| Alphabet Inc. Cl C | COM | 02079K107 | 4,727,292 | 24,823 | SH | DFND | 0 | 24,823 | 0 | ||
| Amazon.com | COM | 023135106 | 1,722,870 | 7,853 | SH | DFND | 900 | 6,953 | 0 | ||
| American Electric Power | COM | 025537101 | 622,553 | 6,750 | SH | DFND | 6,400 | 350 | 0 | ||
| Apple, Inc. | COM | 037833100 | 4,550,942 | 18,173 | SH | DFND | 5,500 | 12,673 | 0 | ||
| Asure Software Inc. | COM | 04649U102 | 34,996,722 | 3,719,099 | SH | DFND | 1,350,415 | 2,368,684 | 0 | ||
| Bank of America Corp. | COM | 060505104 | 395,530 | 9,000 | SH | DFND | 0 | 9,000 | 0 | ||
| Barrett Business Services | COM | 068463108 | 50,118,222 | 1,153,734 | SH | DFND | 419,190 | 734,544 | 0 | ||
| BGC Group Inc | COM | 088929104 | 28,651,226 | 3,162,387 | SH | DFND | 1,040,605 | 2,121,782 | 0 | ||
| Blackrock Inc. | COM | 09290D101 | 332,894 | 325 | SH | DFND | 0 | 325 | 0 | ||
| Broadcom Inc. | COM | 11135F101 | 329,237 | 1,420 | SH | DFND | 0 | 1,420 | 0 | ||
| Campbell Soup Co. | COM | 134429109 | 1,101,444 | 26,300 | SH | DFND | 26,000 | 300 | 0 | ||
| CF Industries Holdings Inc. | COM | 125269100 | 788,417 | 9,241 | SH | DFND | 9,000 | 241 | 0 | ||
| Chemours | COM | 163851108 | 169,000 | 10,000 | SH | DFND | 10,000 | 0 | 0 | ||
| Chevron Corporation | COM | 166764100 | 2,653,300 | 18,319 | SH | DFND | 0 | 18,319 | 0 | ||
| Clorox Co. | COM | 189054109 | 1,283,039 | 7,900 | SH | DFND | 6,000 | 1,900 | 0 | ||
| Compass Minerals International, Inc. | COM | 20451N101 | 652,500 | 58,000 | SH | DFND | 58,000 | 0 | 0 | ||
| Costco Wholesale Corporation | COM | 22160K105 | 273,415 | 298 | SH | DFND | 0 | 298 | 0 | ||
| Direxion Financial Bull 3X Shs | COM | 25459Y694 | 830,390 | 5,500 | SH | DFND | 5,500 | 0 | 0 | ||
| Direxion NASDAQ-100 Equal Weighted ETF | COM | 25459Y207 | 403,307 | 4,493 | SH | DFND | 0 | 4,493 | 0 | ||
| Dow Jones Indl Average SPDR ETF | COM | 78467X109 | 510,600 | 1,200 | SH | DFND | 200 | 1,000 | 0 | ||
| Duke Energy Corp. | COM | 26441C204 | 294,928 | 2,737 | SH | DFND | 0 | 2,737 | 0 | ||
| ECN Capital Corporation | COM | 26829L107 | 41,450,066 | 18,755,686 | SH | DFND | 6,824,040 | 11,931,646 | 0 | ||
| Energy Select Sector SPDR | COM | 81369Y506 | 1,624,272 | 18,962 | SH | DFND | 11,500 | 7,462 | 0 | ||
| Everi Holdings, Inc. | COM | 30034T103 | 22,953,544 | 1,699,004 | SH | DFND | 699,497 | 999,507 | 0 | ||
| Exxon Mobil Corp. | COM | 30231G102 | 440,527 | 4,095 | SH | DFND | 0 | 4,095 | 0 | ||
| Financials Select Sector SPDR | COM | 81369Y605 | 426,743 | 8,830 | SH | DFND | 0 | 8,830 | 0 | ||
| First Northwest Bancorp | COM | 335834107 | 5,527,034 | 541,866 | SH | DFND | 173,793 | 368,073 | 0 | ||
| FirstEnergy Corp. | COM | 337932107 | 935,884 | 23,527 | SH | DFND | 23,500 | 27 | 0 | ||
| H&E Equipment Services Inc | COM | 404030108 | 1,003,680 | 20,500 | SH | DFND | 17,500 | 3,000 | 0 | ||
| Harrow Inc. | COM | 415858109 | 56,866,680 | 1,694,983 | SH | DFND | 577,549 | 1,117,434 | 0 | ||
| Healthcare Select Sector SPDR | COM | 81369Y209 | 497,141 | 3,614 | SH | DFND | 0 | 3,614 | 0 | ||
| Helmerich & Payne | COM | 423452101 | 1,248,780 | 39,000 | SH | DFND | 31,000 | 8,000 | 0 | ||
| Highland Opportunities & Income Fund | COM | 43010E404 | 731,790 | 141,000 | SH | DFND | 141,000 | 0 | 0 | ||
| Highland Opportunities & Income Fund | PFD | 43010E503 | 833,250 | 50,500 | SH | DFND | 0 | 50,500 | 0 | ||
| Home Depot Inc. | COM | 437076102 | 1,178,034 | 3,028 | SH | DFND | 0 | 3,028 | 0 | ||
| Honeywell International Inc. | COM | 438516106 | 462,188 | 2,046 | SH | DFND | 0 | 2,046 | 0 | ||
| Imax Corporation | COM | 45245E109 | 345,472 | 13,495 | SH | DFND | 0 | 13,495 | 0 | ||
| Information Services Group | COM | 45675Y104 | 18,688,555 | 5,595,376 | SH | DFND | 1,676,280 | 3,919,096 | 0 | ||
| Intel Corporation | COM | 458140100 | 204,510 | 10,200 | SH | DFND | 8,500 | 1,700 | 0 | ||
| International Business Machines Corp. | COM | 459200101 | 2,764,784 | 12,577 | SH | DFND | 0 | 12,577 | 0 | ||
| International Workplace Group | COM | G4969N103 | 1,504,723 | 734,011 | SH | DFND | 172,090 | 561,921 | 0 | ||
| Invesco QQQ Trust Series 1 | COM | 46090E103 | 1,274,051 | 2,492 | SH | DFND | 0 | 2,492 | 0 | ||
| Invesco S&P 100 Equal Weight ETF | COM | 46137V449 | 794,400 | 7,767 | SH | DFND | 0 | 7,767 | 0 | ||
| iShares Core MSCI Emerging Markets | COM | 46434G103 | 342,616 | 6,561 | SH | DFND | 0 | 6,561 | 0 | ||
| iShares Core MSCI Total Int'l Stock ETF | COM | 46432F834 | 236,216 | 3,571 | SH | DFND | 0 | 3,571 | 0 | ||
| iShares Core S&P 500 | COM | 464287200 | 2,543,667 | 4,321 | SH | DFND | 0 | 4,321 | 0 | ||
| iShares Core S&P Mid Cap ETF | COM | 464287507 | 2,688,681 | 43,150 | SH | DFND | 0 | 43,150 | 0 | ||
| iShares Core S&P Small Cap ETF | COM | 464287804 | 209,787 | 1,821 | SH | DFND | 0 | 1,821 | 0 | ||
| iShares Core US Aggregate Bond ETF | COM | 464287226 | 1,283,225 | 13,243 | SH | DFND | 0 | 13,243 | 0 | ||
| iShares Russell 1000 Index Fund ETF | COM | 464287622 | 228,234 | 708 | SH | DFND | 0 | 708 | 0 | ||
| iShares Russell 2000 Index ETF | COM | 464287655 | 439,048 | 1,987 | SH | DFND | 800 | 1,187 | 0 | ||
| Jefferies Financial Group Inc. | COM | 47233W109 | 40,455,934 | 516,020 | SH | DFND | 174,235 | 341,785 | 0 | ||
| JM Smucker Company | COM | 832696405 | 554,785 | 5,038 | SH | DFND | 2,000 | 3,038 | 0 | ||
| JP Morgan Chase & Co. | COM | 46625H100 | 27,327,767 | 114,003 | SH | DFND | 400 | 113,603 | 0 | ||
| JP Morgan Chase Fin'l Co LLC Alerian | COM | 48133Q309 | 231,202 | 7,835 | SH | DFND | 0 | 7,835 | 0 | ||
| Keurig Dr Pepper Inc | COM | 49271V100 | 899,360 | 28,000 | SH | DFND | 25,500 | 2,500 | 0 | ||
| KKR & Co. Inc. Cl A | COM | 48251W104 | 43,557,064 | 294,484 | SH | DFND | 96,695 | 197,789 | 0 | ||
| Lakeland Industries Inc. | COM | 511795106 | 25,738,841 | 1,007,391 | SH | DFND | 345,107 | 662,284 | 0 | ||
| Lantheus Holdings Inc. | COM | 516544103 | 44,756,212 | 500,293 | SH | DFND | 162,558 | 337,735 | 0 | ||
| Ligand Pharmaceuticals | COM | 53220K504 | 14,324,884 | 133,690 | SH | DFND | 45,160 | 88,530 | 0 | ||
| Lockheed Martin Corp. | COM | 539830109 | 427,479 | 880 | SH | DFND | 0 | 880 | 0 | ||
| Mastercard Incorporated | COM | 57636Q104 | 1,548,339 | 2,940 | SH | DFND | 0 | 2,940 | 0 | ||
| Meta Platforms, Inc. | COM | 30303M102 | 911,663 | 1,557 | SH | DFND | 0 | 1,557 | 0 | ||
| Microsoft Corp | COM | 594918104 | 3,068,785 | 7,281 | SH | DFND | 3,100 | 4,181 | 0 | ||
| Molson Coors Brewing Company | COM | 60871R209 | 888,460 | 15,500 | SH | DFND | 14,300 | 1,200 | 0 | ||
| Motorcar Parts of America, Inc. | COM | 620071100 | 19,147,098 | 2,519,355 | SH | DFND | 900,145 | 1,619,210 | 0 | ||
| National Fuel Gas Co. | COM | 636180101 | 1,262,144 | 20,800 | SH | DFND | 17,500 | 3,300 | 0 | ||
| Nutrien Ltd. | COM | 67077M108 | 1,124,860 | 25,137 | SH | DFND | 24,850 | 287 | 0 | ||
| Nvidia Corporation | COM | 67066G104 | 277,980 | 2,070 | SH | DFND | 0 | 2,070 | 0 | ||
| Palantir Technologies Inc. | COM | 69608A108 | 4,553,738 | 60,211 | SH | DFND | 0 | 60,211 | 0 | ||
| Paypal Holdings Inc. | COM | 70450Y103 | 1,596,045 | 18,700 | SH | DFND | 15,000 | 3,700 | 0 | ||
| Peabody Energy Corporation | COM | 704551100 | 1,536,996 | 73,400 | SH | DFND | 53,000 | 20,400 | 0 | ||
| Perion Network Ltd. | COM | M78673114 | 21,500,875 | 2,538,474 | SH | DFND | 899,664 | 1,638,810 | 0 | ||
| Pfizer, Inc. | COM | 717081103 | 2,020,942 | 76,176 | SH | DFND | 74,300 | 1,876 | 0 | ||
| Phillips 66 | COM | 718546104 | 1,497,714 | 13,146 | SH | DFND | 8,800 | 4,346 | 0 | ||
| PowerFleet, Inc. | COM | 73931J109 | 45,504,070 | 6,832,443 | SH | DFND | 2,955,309 | 3,877,134 | 0 | ||
| ProShares S&P 500 Dividend Aristocrats | COM | 74348A467 | 4,469,520 | 44,897 | SH | DFND | 7,000 | 37,897 | 0 | ||
| Qualcomm, Inc. | COM | 747525103 | 615,241 | 4,005 | SH | DFND | 3,300 | 705 | 0 | ||
| Quest Diagnostics, Inc. | COM | 74834L100 | 1,568,944 | 10,400 | SH | DFND | 8,200 | 2,200 | 0 | ||
| QuinStreet, Inc. | COM | 74874Q100 | 93,722,198 | 4,062,514 | SH | DFND | 1,440,589 | 2,621,925 | 0 | ||
| Range Resources | COM | 75281A109 | 809,550 | 22,500 | SH | DFND | 22,500 | 0 | 0 | ||
| Raymond James Financial, Inc. | COM | 754730109 | 9,141,171 | 58,850 | SH | DFND | 0 | 58,850 | 0 | ||
| RealReal Inc. | COM | 88339P101 | 262,320 | 24,000 | SH | DFND | 24,000 | 0 | 0 | ||
| Saba Closed-End Funds ETF | COM | 30151E806 | 849,025 | 39,637 | SH | DFND | 0 | 39,637 | 0 | ||
| Schwab International Equity ETF | COM | 808524805 | 1,341,081 | 72,491 | SH | DFND | 0 | 72,491 | 0 | ||
| Schwab Strategic Tr Emerging Mkts Eqty ETF | COM | 808524706 | 228,104 | 8,566 | SH | DFND | 0 | 8,566 | 0 | ||
| Secure Waste Infrastructure Corp | COM | 813921103 | 18,014,246 | 1,596,300 | SH | DFND | 395,385 | 1,200,915 | 0 | ||
| Shell PLC Spon ADS | COM | 780259305 | 657,825 | 10,500 | SH | DFND | 10,500 | 0 | 0 | ||
| Shore Bancshares Inc | COM | 825107105 | 3,792,192 | 239,255 | SH | DFND | 56,090 | 183,165 | 0 | ||
| SmartFinancial Inc. | COM | 83190L208 | 16,192,493 | 522,676 | SH | DFND | 159,171 | 363,505 | 0 | ||
| Southern Co. | COM | 842587107 | 668,588 | 8,122 | SH | DFND | 7,500 | 622 | 0 | ||
| Southern States Bancshares | COM | 843878307 | 1,276,006 | 38,307 | SH | DFND | 0 | 38,307 | 0 | ||
| SPDR S&P MidCap 400 ETF Trust | COM | 78467Y107 | 219,288 | 385 | SH | DFND | 0 | 385 | 0 | ||
| Standard & Poor's Depositary Receipts | COM | 78462F103 | 5,578,973 | 9,519 | SH | DFND | 6,500 | 3,019 | 0 | ||
| StoneX Group Inc. | COM | 861896108 | 18,751,556 | 191,401 | SH | DFND | 60,892 | 130,509 | 0 | ||
| Synovus Financial Corp. | COM | 87161C501 | 14,566,463 | 284,335 | SH | DFND | 79,271 | 205,064 | 0 | ||
| Target Corp. | COM | 87612E106 | 1,463,426 | 10,826 | SH | DFND | 10,000 | 826 | 0 | ||
| Target Hospitality Corp. | COM | 87615L107 | 48,404,330 | 5,008,208 | SH | DFND | 1,554,109 | 3,454,099 | 0 | ||
| Technology Sector SPDR | COM | 81369Y803 | 302,276 | 1,300 | SH | DFND | 0 | 1,300 | 0 | ||
| The Trade Desk Inc. | COM | 88339J105 | 298,761 | 2,542 | SH | DFND | 700 | 1,842 | 0 | ||
| Thermo Fisher Scientific Inc. | COM | 883556102 | 726,241 | 1,396 | SH | DFND | 0 | 1,396 | 0 | ||
| Total Energies SE | COM | 89151E109 | 216,038 | 3,964 | SH | DFND | 3,700 | 264 | 0 | ||
| Tractor Supply Co. | COM | 892356106 | 753,452 | 14,200 | SH | DFND | 13,500 | 700 | 0 | ||
| Tronox Holdings PLC | COM | G9087Q102 | 17,284,290 | 1,716,414 | SH | DFND | 545,575 | 1,170,839 | 0 | ||
| UnitedHealth Group | COM | 91324P102 | 237,192 | 469 | SH | DFND | 0 | 469 | 0 | ||
| Utilities Select Sector SPDR | COM | 81369Y886 | 2,162,327 | 28,568 | SH | DFND | 4,100 | 24,468 | 0 | ||
| Vanguard Dividend Appreciation Indx ETF | COM | 921908844 | 4,195,954 | 21,427 | SH | DFND | 5,400 | 16,027 | 0 | ||
| Vanguard FTSE All World Ex US ETF | COM | 922042775 | 606,419 | 10,563 | SH | DFND | 0 | 10,563 | 0 | ||
| Vanguard Growth Indx Fd ETF | COM | 922908736 | 258,577 | 630 | SH | DFND | 0 | 630 | 0 | ||
| Vanguard High Dividend Yield Index Fd ETF | COM | 921946406 | 478,427 | 3,750 | SH | DFND | 0 | 3,750 | 0 | ||
| Vanguard Index Fund ETF | COM | 922908769 | 315,603 | 1,089 | SH | DFND | 0 | 1,089 | 0 | ||
| Vanguard Intermediate Term Corp. Bond ETF | COM | 92206C870 | 538,935 | 6,714 | SH | DFND | 0 | 6,714 | 0 | ||
| Vanguard S&P 500 Indx Fd ETF | COM | 922908363 | 460,943 | 855 | SH | DFND | 0 | 855 | 0 | ||
| Visa Inc. | COM | 92826C839 | 235,983 | 747 | SH | DFND | 0 | 747 | 0 | ||
| Visteon Corp. | COM | 92839U206 | 7,972,142 | 89,857 | SH | DFND | 27,201 | 62,656 | 0 | ||
| Vivid Seats Inc. | COM | 92854T100 | 23,411,637 | 5,056,509 | SH | DFND | 1,773,478 | 3,283,031 | 0 | ||
| Walmart, Inc. | COM | 931142103 | 504,776 | 5,587 | SH | DFND | 0 | 5,587 | 0 | ||
| Waste Management | COM | 94106L109 | 425,898 | 2,111 | SH | DFND | 0 | 2,111 | 0 | ||
| WisdomTree CBOE S&P 500 PutWrite Strategy | COM | 97717X560 | 2,062,942 | 62,578 | SH | DFND | 0 | 62,578 | 0 | ||
| WisdomTree US Mid-Cap Div Fund | COM | 97717W505 | 3,926,249 | 77,031 | SH | DFND | 0 | 77,031 | 0 | ||
| Zebra Technologies | COM | 989207105 | 666,230 | 1,725 | SH | DFND | 0 | 1,725 | 0 | ||
| AerSale Corporation | COM | 00810F106 | 63,000 | 10,000 | SH | Call | DFND | 10,000 | 0 | 0 | |
| BGC Group, Inc | COM | 088929104 | 90,600 | 10,000 | SH | Call | DFND | 10,000 | 0 | 0 | |
| Compass Minerals International, Inc. | COM | 20451N101 | 2,058,750 | 183,000 | SH | Call | DFND | 183,000 | 0 | 0 | |
| Information Services Group | COM | 45675Y104 | 167,000 | 50,000 | SH | Call | DFND | 50,000 | 0 | 0 | |
| Intel Corporation | COM | 458140100 | 1,604,000 | 80,000 | SH | Call | DFND | 80,000 | 0 | 0 | |
| Lantheus Holdings Inc | COM | 516544103 | 447,300 | 5,000 | SH | Call | DFND | 5,000 | 0 | 0 | |
| Peabody Energy Corporation | COM | 704551100 | 994,650 | 47,500 | SH | Call | DFND | 47,500 | 0 | 0 | |
| Perion Network Ltd | COM | M78673114 | 7,623 | 900 | SH | Call | DFND | 900 | 0 | 0 | |
| Pfizer Inc. | COM | 717081103 | 2,520,350 | 95,000 | SH | Call | DFND | 95,000 | 0 | 0 | |
| Revance Therapeutics, Inc. | COM | 761330109 | 30,400 | 10,000 | SH | Call | DFND | 10,000 | 0 | 0 | |
| Target Hospitality Corp. | COM | 87615L107 | 289,950 | 30,000 | SH | Call | DFND | 30,000 | 0 | 0 | |
| TotalEnergies SE Sponsored ADR | COM | 89151E109 | 817,500 | 15,000 | SH | Call | DFND | 15,000 | 0 | 0 | |
| Tronox Holdings Plc | COM | G9087Q102 | 604,200 | 60,000 | SH | Call | DFND | 60,000 | 0 | 0 | |
| Vivid Seats Inc. | COM | 92854T100 | 1,331,125 | 287,500 | SH | Call | DFND | 287,500 | 0 | 0 | |
| iShares Russell 2000 Index ETF | COM | 464287655 | 44,192 | 200 | SH | Put | DFND | 200 | 0 | 0 | |
| Peabody Energy Corporation | COM | 704551100 | 366,450 | 17,500 | SH | Put | DFND | 17,500 | 0 | 0 | |
| Pfizer Inc. | COM | 717081103 | 941,815 | 35,500 | SH | Put | DFND | 35,500 | 0 | 0 | |
| Planet Fitness, Inc. Class A | COM | 72703H101 | 3,460,450 | 35,000 | SH | Put | DFND | 35,000 | 0 | 0 | |
| Dow Jones Indl Average SPDR ETF | COM | 78467X109 | 85,100 | 200 | SH | Put | DFND | 200 | 0 | 0 | |
