Price Michael F 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

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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
Advanced Emissions Solutions Inc.	COM	00770C101	7,728	800,000	SH		DFND	1	0	800,000	0
Alliance Data Systems Corp	COM	018581108	9,784	38,600	SH		DFND	1	0	38,600	0
Alphabet Inc.	CAP STK CL A	02079K305	2,107	2,000	SH		SOLE	0	2,000	0	0
American Midstream Partners LP	COM UNIT RP IN	02752P100	8,941	669,724	SH		DFND	1	0	669,724	0
American Midstream Partners LP	COM UNIT RP IN	02752P100	211	15,775	SH		SOLE	0	15,775	0	0
American River Bankshares	COM	029326105	380	24,950	SH		DFND	1	0	24,950	0
Anadarko Petroleum Corp.	COM	032511107	3,326	62,000	SH		DFND	1	0	62,000	0
Apache Corporation	COM	037411105	422	10,000	SH		SOLE	0	10,000	0	0
Atlantic Capital Bancshares	COM	048269203	16,722	950,093	SH		DFND	1	0	950,093	0
BKF Capital Group, Inc.	COM	05548G201	441	29,380	SH		DFND	1	0	29,380	0
BRT Realty Trust	COM	055645303	1,985	168,369	SH		DFND	1	0	168,369	0
BMC Stock Holdings Inc.	COM	05591B109	45,540	1,800,000	SH		DFND	1	0	1,800,000	0
Babcock & Wilcox Enterprises	COM	05614L100	2,556	450,000	SH		DFND	1	0	450,000	0
Baker Hughes a GE Company	CL A	05722G100	316	10,000	SH		SOLE	0	10,000	0	0
The Bancorp Bank	COM	05969A105	4,026	407,500	SH		DFND	1	0	407,500	0
Banc of California, Inc.	COM	05990K106	26,690	1,292,500	SH		DFND	1	0	1,292,500	0
Bank of America Corporation	COM	060505104	590	20,000	SH		SOLE	0	20,000	0	0
Barnes & Noble Edu. Inc	COM	06777U101	3,274	397,300	SH		DFND	1	0	397,300	0
Barnes & Noble Edu. Inc	COM	06777U101	87	10,554	SH		SOLE	0	10,554	0	0
Bojangles' Inc.	COM	097488100	5,546	470,000	SH		DFND	1	0	470,000	0
Boston Scientific Corp.	COM	101137107	7,045	284,200	SH		DFND	1	0	284,200	0
Brighthouse Financial Inc.	COM	10922N103	11,728	200,000	SH		DFND	1	0	200,000	0
CIBL, Inc.	COM	12543Y104	323	215	SH		DFND	1	0	215	0
CIT Group Inc.	COM NEW	125581801	26,338	535,000	SH		DFND	1	0	535,000	0
CIT Group Inc.	COM	125581801	492	10,000	SH		SOLE	0	10,000	0	0
Carbon Natural Gas Co.	COM	14115T208	1,989	211,112	SH		DFND	1	0	211,112	0
Carter Bank & Trust	COM	146102108	14,981	853,600	SH		DFND	1	0	853,600	0
Central Steel & Wire Company	COM	155411101	54	108	SH		DFND	1	0	108	0
Citizens Financial Group	COM	174610105	7,347	175,000	SH		DFND	1	0	175,000	0
Clifton Bancorp, Inc.	COM	186873105	5,020	293,568	SH		DFND	1	0	293,568	0
Continental Resources Inc.	COM	212015101	5,297	100,000	SH		DFND	1	0	100,000	0
Continental Resources Inc.	COM	212015101	13,772	260,000	SH		SOLE	0	260,000	0	0
Crimson Wine Group Ltd.	COM	22662X100	10,341	969,200	SH		DFND	1	0	969,200	0
Devon Energy Corp. New	COM	25179M103	2,898	70,000	SH		SOLE	0	70,000	0	0
Dolby Laboratories Inc.	COM	25659T107	46,500	750,000	SH		DFND	1	0	750,000	0
Dolby Laboratories Inc.	COM	25659T107	512	8,255	SH		SOLE	0	8,255	0	0
Donnelley Financial Solutions, Inc.	COM	25787G100	2,436	125,000	SH		DFND	1	0	125,000	0
DowDuPont Inc.	COM	26078J100	10,500	147,430	SH		DFND	1	0	147,430	0
DowDuPont Inc.	COM	26078J100	2,283	32,050	SH		SOLE	0	32,050	0	0
Energen Corporation	COM	29265N108	3,598	62,500	SH		DFND	1	0	62,500	0
Enduro Royalty Trust	TR UNIT	29269K100	248	78,860	SH		DFND	1	0	78,860	0
Exxon Mobil Corp.	COM	30231G102	1,673	20,000	SH		SOLE	0	20,000	0	0
FMC Corp.	COM	30249U101	18,932	200,000	SH		DFND	1	0	200,000	0
FMC Corp.	COM	30249U101	4,733	50,000	SH		SOLE	0	50,000	0	0
FSB Bancorp	COM	30289C102	2,827	166,286	SH		DFND	1	0	166,286	0
Farmers & Merchants Bank	COM	308243104	1,596	203	SH		SOLE	0	203	0	0
First Bank	COM	31931U102	2,771	200,100	SH		DFND	1	0	200,100	0
Franklin Resources Inc.	COM	354613101	9,151	211,200	SH		DFND	1	0	211,200	0
Franklin Resources Inc.	COM	354613101	1,193	27,530	SH		SOLE	0	27,530	0	0
GAMCO Investors, Inc.	COM	361438104	489	16,500	SH		DFND	1	0	16,500	0
General Electric Co.	COM	369604103	70	4,000	SH		SOLE	0	4,000	0	0
Getty Realty Corp.	COM	374297109	989	36,427	SH		SOLE	0	36,427	0	0
Global Eagle Entertainment	COM	37951D102	229	100,000	SH		DFND	1	0	100,000	0
Groupon, Inc.	COM	399473107	2,499	490,000	SH		DFND	1	0	490,000	0
Gulf Coast Ultra Deep Rty Trust Unit	UNIT BEN INT	40222T104	155	5,000,000	SH		DFND	1	0	5,000,000	0
Gulf Coast Ultra Deep Rty Trust Unit	UNIT BEN INT	40222T104	22	721,942	SH		SOLE	0	721,942	0	0
GulfMark Offshore, Inc.	COM	402629505	3,839	134,759	SH		DFND	1	0	134,759	0
Gyrodyne, LLC	COM	403829104	1,609	80,100	SH		DFND	1	0	80,100	0
Gyrodyne, LLC	COM	403829104	94	4,658	SH		SOLE	0	4,658	0	0
Halliburton Co.	COM	406216101	977	20,000	SH		SOLE	0	20,000	0	0
Helmerich & Payne Inc.	COM	423452101	6,464	100,000	SH		DFND	1	0	100,000	0
Hess Corporation	COM	42809H107	8,307	175,000	SH		DFND	1	0	175,000	0
Hess Corporation	COM	42809H107	9,019	190,000	SH		SOLE	0	190,000	0	0
Highland Bankshares Inc.	COM	430893107	2,895	396,458	SH		DFND	1	0	396,458	0
Howard Bancorp Inc.	COM	442496105	1,100	50,000	SH		DFND	1	0	50,000	0
Hugoton Realty Trust TEX Unit Ben Int	UNIT BEN INT	444717102	267	190,440	SH		SOLE	0	190,440	0	0
ICTC Group	COM	44931F108	258	3,687	SH		DFND	1	0	3,687	0
ICC Holdings, Inc.	COM	44931Q104	488	30,000	SH		DFND	1	0	30,000	0
Innoviva, Inc.	COM	45781M101	745	52,500	SH		DFND	1	0	52,500	0
Intel Corp.	COM	458140100	23,080	500,000	SH		DFND	1	0	500,000	0
Intel Corp.	COM	458140100	57,931	1,255,000	SH		SOLE	0	1,255,000	0	0
Investar Holding Corporation	COM	46134L105	384	15,915	SH		DFND	1	0	15,915	0
Investors Bancorp, Inc.	COM	46146L101	7,495	540,000	SH		DFND	1	0	540,000	0
JBG SMITH Properties	COM	46590V100	104	3,000	SH		DFND	1	0	3,000	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	6,358	59,500	SH		DFND	1	0	59,500	0
Kearny Financial Corp.	COM	48716P108	14,450	1,000,000	SH		DFND	1	0	1,000,000	0
Kemper Corp.	COM	488401100	413	6,000	SH		SOLE	0	6,000	0	0
Keweenaw Land Association LTD.	COM	493026108	99	1,000	SH		SOLE	0	1,000	0	0
Keysight Technologies, Inc.	COM	49338L103	3,578	86,000	SH		DFND	1	0	86,000	0
LICT Corp.	COM	50187G104	3,204	275	SH		DFND	1	0	275	0
Luther Burbank Corporation	COM	550550107	1,505	125,000	SH		DFND	1	0	125,000	0
MB Bancorp Inc.	COM	55280E104	2,686	170,559	SH		DFND	1	0	170,559	0
MSB Financial	COM	55352L101	3,113	174,897	SH		DFND	1	0	174,897	0
The Macerich Company	COM	554382101	6,568	100,000	SH		DFND	1	0	100,000	0
Meridian Bank of Malvern	COM	58958P104	3,497	175,000	SH		DFND	1	0	175,000	0
Meridian Bancorp, Inc.	COM	58958U103	2,060	100,000	SH		DFND	1	0	100,000	0
National Presto Industries, Inc.	COM	637215104	2,337	23,500	SH		DFND	1	0	23,500	0
New York REIT	COM	64976L109	1,611	410,000	SH		DFND	1	0	410,000	0
News Corp	COM	65249B109	7,457	460,000	SH		DFND	1	0	460,000	0
NI Holdings Inc.	COM	65342T106	4,394	258,750	SH		DFND	1	0	258,750	0
Northeast Bancorp	COM	663904209	4,688	202,500	SH		DFND	1	0	202,500	0
Oaktree Specialty Lending Corp.	COM	67401P108	489	100,000	SH		DFND	1	0	100,000	0
PCSB Financial	COM	69324R104	381	20,000	SH		SOLE	0	20,000	0	0
Pandora Media Inc.	COM	698354107	1,615	335,000	SH		DFND	1	0	335,000	0
Papa Murphy's Holdings	COM	698814100	12,466	2,317,178	SH		DFND	1	0	2,317,178	0
Peapack-Gladstone Financial Corp.	COM	704699107	3,530	100,800	SH		DFND	1	0	100,800	0
Permian Basin Rlty Trust	UNIT BEN INT	714236106	211	23,841	SH		SOLE	0	23,841	0	0
Plains All American Pipeline	UNIT LTD PARTN	726503105	8,411	407,500	SH		DFND	1	0	407,500	0
Plains All American Pipeline	UNIT LTD PARTN	726503105	229	11,081	SH		SOLE	0	11,081	0	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	3,647	166,130	SH		DFND	1	0	166,130	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	2,072	94,388	SH		SOLE	0	94,388	0	0
Popular, Inc.	COM UNIT RP IN	733174700	10,647	300,000	SH		DFND	1	0	300,000	0
Popular, Inc.	COM UNIT RP IN	733174700	355	10,000	SH		SOLE	0	10,000	0	0
Prudential Bancorp Inc.	COM	74431A101	2,135	121,287	SH		DFND	1	0	121,287	0
Quality Care Properties, Inc.	COM	747545101	1,381	100,000	SH		DFND	1	0	100,000	0
Randolph Bancorp, Inc.	COM	752378109	878	57,200	SH		DFND	1	0	57,200	0
Regions Financial Corp.	COM	7591EP100	9,012	521,500	SH		DFND	1	0	521,500	0
SI Financial Group	COM	78425V104	1,606	109,241	SH		DFND	1	0	109,241	0
S&W Seed Company	COM	785135104	26,576	6,814,339	SH		DFND	1	0	6,814,339	0
William H. Sadlier, Inc.	COM	786327106	1,347	21,217	SH		DFND	1	0	21,217	0
San Juan Basin Realty Trust Unit	UNIT BEN INT	798241105	826	100,240	SH		SOLE	0	100,240	0	0
Sanofi-Aventis SA, CVR	SPONSORED ADR	80105N113	1,230	3,235,625	SH		DFND	1	0	3,235,625	0
Sanofi-Aventis SA, CVR	SPONSORED ADR	80105N113	132	348,043	SH		SOLE	0	348,043	0	0
ShotSpotter, Inc.	COM	82536T107	4,104	292,116	SH		DFND	1	0	292,116	0
Steel Holdings LP Ltd Prshp Unit	LTD PRTRSHIP U	85814R107	113	5,773	SH		SOLE	0	5,773	0	0
Tejon Ranch Co.	COM	879080109	14,081	678,285	SH		DFND	1	0	678,285	0
Tenet Healthcare Corporation	COM NEW	88033G407	6,064	400,000	SH		DFND	1	0	400,000	0
Teva Pharmaceutical Industries Ltd.	SPONSORED ADR	881624209	1,987	104,875	SH		SOLE	0	104,875	0	0
Time Warner Inc.	COM NEW	887317303	10,245	112,000	SH		DFND	1	0	112,000	0
Time Warner Inc.	COM NEW	887317303	503	5,500	SH		SOLE	0	5,500	0	0
Trinity Place Holdings Inc.	COM	89656D101	29,993	4,315,561	SH		DFND	1	0	4,315,561	0
Veeco Instruments Inc.	COM	922417100	298	20,100	SH		DFND	1	0	20,100	0
Vornado Realty Trust	SH BEN INT	929042109	469	6,000	SH		DFND	1	0	6,000	0
Waterstone Financial Inc.	COM	94188P101	20,283	1,189,617	SH		DFND	1	0	1,189,617	0
Westlake Chemical Corp.	COM	960413102	23,969	225,000	SH		DFND	1	0	225,000	0
Williams-Sonoma, Inc.	COM	969904101	3,981	77,000	SH		DFND	1	0	77,000	0
Wright Investors Service Holdings	COM	982345100	429	825,691	SH		DFND	1	0	825,691	0
XPO Logistics, Inc.	COM	983793100	16,028	175,000	SH		DFND	1	0	175,000	0
XPO Logistics, Inc.	COM	983793100	733	8,000	SH		SOLE	0	8,000	0	0
York Traditions Bank	COM	987159100	2,391	131,000	SH		DFND	1	0	131,000	0
Belmond Ltd. Class A	COM	G1154H107	4,165	340,000	SH		DFND	1	0	340,000	0
TechnipFMC plc	COM	G87110105	13,626	435,200	SH		DFND	1	0	435,200	0
Chubb Limited	COM	h1467j104	4,925	33,706	SH		DFND	1	0	33,706	0
Constellium N.V.	CL A	N22035104	2,230	200,000	SH		DFND	1	0	200,000	0