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	9,136	800,000	SH		DFND	1	0	800,000	0
Alliance Data Systems Corp	COM	018581108	11,707	55,000	SH		DFND	1	0	55,000	0
Alphabet Inc.	CAP STK CL A	02079K305	3,111	3,000	SH		SOLE	0	3,000	0	0
American Midstream Partners LP	COM UNIT RP IN	02752P100	7,233	669,724	SH		DFND	1	0	669,724	0
American Midstream Partners LP	COM UNIT RP IN	02752P100	170	15,775	SH		SOLE	0	15,775	0	0
American River Bankshares	COM	029326105	387	24,950	SH		DFND	1	0	24,950	0
Anadarko Petroleum Corp.	COM	032511107	3,745	62,000	SH		DFND	1	0	62,000	0
Apache Corporation	COM	037411105	385	10,000	SH		SOLE	0	10,000	0	0
Atlantic Capital Bancshares	COM	048269203	17,197	950,093	SH		DFND	1	0	950,093	0
BKF Capital Group, Inc.	COM	05548G201	352	29,380	SH		DFND	1	0	29,380	0
BRT Realty Trust	COM	055645303	1,978	168,369	SH		DFND	1	0	168,369	0
BMC Stock Holdings Inc.	COM	05591B109	35,190	1,800,000	SH		DFND	1	0	1,800,000	0
Babcock & Wilcox Enterprises	COM	05614L100	1,967	450,000	SH		DFND	1	0	450,000	0
The Bancorp Bank	COM	05969A105	4,401	407,500	SH		DFND	1	0	407,500	0
Banc of California, Inc.	COM	05990K106	24,945	1,292,500	SH		DFND	1	0	1,292,500	0
Bank of America Corporation	COM	060505104	450	15,000	SH		SOLE	0	15,000	0	0
Barnes & Noble Edu. Inc	COM	06777U101	2,737	397,300	SH		DFND	1	0	397,300	0
Barnes & Noble Edu. Inc	COM	06777U101	73	10,554	SH		SOLE	0	10,554	0	0
Bojangles' Inc.	COM	097488100	5,540	400,000	SH		DFND	1	0	400,000	0
Boston Scientific Corp.	COM	101137107	7,581	277,500	SH		DFND	1	0	277,500	0
Brighthouse Financial Inc.	COM	10922N103	10,280	200,000	SH		DFND	1	0	200,000	0
CIBL, Inc.	COM	12543Y104	312	215	SH		DFND	1	0	215	0
CIT Group Inc.	COM NEW	125581801	27,553	535,000	SH		DFND	1	0	535,000	0
CIT Group Inc.	COM NEW	125581801	515	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	14,554	853,600	SH		DFND	1	0	853,600	0
Central Steel & Wire Company	COM	155411101	51	108	SH		DFND	1	0	108	0
Clifton Bancorp, Inc.	COM	186873105	4,793	306,276	SH		DFND	1	0	306,276	0
Colony Northstar, Inc.	CL A COM	19625W104	3,007	535,000	SH		DFND	1	0	535,000	0
Continental Resources Inc.	COM	212015101	5,895	100,000	SH		DFND	1	0	100,000	0
Continental Resources Inc.	COM	212015101	13,559	230,000	SH		SOLE	0	230,000	0	0
Coty Inc.	COM CL A	222070203	1,327	72,500	SH		DFND	1	0	72,500	0
Crimson Wine Group Ltd.	COM	22662X100	9,585	969,200	SH		DFND	1	0	969,200	0
Dell Technologies Inc.	COM CL V	24703L103	6,497	88,750	SH		DFND	1	0	88,750	0
Devon Energy Corp. New	COM	25179M103	2,035	64,000	SH		SOLE	0	64,000	0	0
Dolby Laboratories Inc.	COM	25659T107	46,098	725,271	SH		DFND	1	0	725,271	0
Dolby Laboratories Inc.	COM	25659T107	525	8,255	SH		SOLE	0	8,255	0	0
DowDuPont Inc.	COM	26078J100	9,393	147,430	SH		DFND	1	0	147,430	0
DowDuPont Inc.	COM	26078J100	2,042	32,050	SH		SOLE	0	32,050	0	0
Energen Corporation	COM	29265N108	5,972	95,000	SH		DFND	1	0	95,000	0
Enduro Royalty Trust	TR UNIT	29269K100	280	78,860	SH		DFND	1	0	78,860	0
Exxon Mobil Corp.	COM	30231G102	1,343	18,000	SH		SOLE	0	18,000	0	0
FMC Corp.	COM	30249U101	19,143	250,000	SH		DFND	1	0	250,000	0
FMC Corp.	COM	30249U101	3,446	45,000	SH		SOLE	0	45,000	0	0
FSB Bancorp	COM	30289C102	2,856	166,286	SH		DFND	1	0	166,286	0
Facebook Inc.	CL A	30303M102	1,119	7,000	SH		SOLE	0	7,000	0	0
Farmers & Merchants Bank	COM	308243104	1,604	203	SH		SOLE	0	203	0	0
First Bank	COM	31931U102	2,881	200,100	SH		DFND	1	0	200,100	0
Forest City Realty Trust A Shares	COM CL A	345605109	685	33,819	SH		DFND	1	0	33,819	0
Franklin Resources Inc.	COM	354613101	7,238	208,700	SH		DFND	1	0	208,700	0
Franklin Resources Inc.	COM	354613101	955	27,530	SH		SOLE	0	27,530	0	0
GAMCO Investors, Inc.	COM	361438104	1,167	47,000	SH		DFND	1	0	47,000	0
Genworth MI Canada	COM	37252B102	8,671	272,500	SH		DFND	1	0	272,500	0
Getty Realty Corp.	COM	374297109	919	36,427	SH		SOLE	0	36,427	0	0
Groupon, Inc.	COM	399473107	2,409	555,000	SH		DFND	1	0	555,000	0
Gulf Coast Ultra Deep Rty Trust Unit	UNIT BEN INT	40222T104	320	5,000,000	SH		DFND	1	0	5,000,000	0
Gulf Coast Ultra Deep Rty Trust Unit	UNIT BEN INT	40222T104	46	721,942	SH		SOLE	0	721,942	0	0
Gulfmark Warrant	COM	402629117	8	8,144	SH		DFND	1	0	8,144	0
GulfMark Offshore, Inc.	COM	402629505	1,244	42,884	SH		DFND	1	0	42,884	0
Gyrodyne, LLC	COM	403829104	1,642	80,100	SH		DFND	1	0	80,100	0
Gyrodyne, LLC	COM	403829104	95	4,658	SH		SOLE	0	4,658	0	0
Hain Celestial Group	COM	405217100	1,283	40,000	SH		DFND	1	0	40,000	0
Halliburton Co.	COM	406216101	939	20,000	SH		SOLE	0	20,000	0	0
Helmerich & Payne Inc.	COM	423452101	6,656	100,000	SH		DFND	1	0	100,000	0
Hess Corporation	COM	42809H107	8,859	175,000	SH		DFND	1	0	175,000	0
Hess Corporation	COM	42809H107	9,618	190,000	SH		SOLE	0	190,000	0	0
Highland Bankshares Inc.	COM	430893107	2,993	396,458	SH		DFND	1	0	396,458	0
Howard Bancorp Inc.	COM	442496105	885	44,677	SH		DFND	1	0	44,677	0
Hugoton Realty Trust TEX Unit Ben Int	UNIT BEN INT	444717102	133	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	550	35,079	SH		DFND	1	0	35,079	0
Innoviva, Inc.	COM	45781M101	875	52,500	SH		DFND	1	0	52,500	0
Intel Corp.	COM	458140100	41,664	800,000	SH		DFND	1	0	800,000	0
Intel Corp.	COM	458140100	66,142	1,270,000	SH		SOLE	0	1,270,000	0	0
Investors Bancorp, Inc.	COM	46146L101	7,366	540,000	SH		DFND	1	0	540,000	0
JBG SMITH Properties	COM	46590V100	101	3,000	SH		DFND	1	0	3,000	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	5,731	56,800	SH		DFND	1	0	56,800	0
Kearny Financial Corp.	COM	48716P108	13,362	1,027,862	SH		DFND	1	0	1,027,862	0
Keweenaw Land Association LTD.	COM	493026108	101	1,000	SH		SOLE	0	1,000	0	0
LICT Corp.	COM	50187G104	3,493	275	SH		DFND	1	0	275	0
Luther Bank Corp	COM	550550107	1,501	125,000	SH		DFND	1	0	125,000	0
MB Bancorp Inc.	COM	55280E104	2,882	170,559	SH		DFND	1	0	170,559	0
MSB Financial	COM	55352L101	3,139	174,897	SH		DFND	1	0	174,897	0
The Macerich Company	COM	554382101	5,602	100,000	SH		DFND	1	0	100,000	0
Baker Hughes a GE Company	CL A	05722G100	278	10,000	SH		SOLE	0	10,000	0	0
Meredith Corp.	COM	589433101	18,292	340,000	SH		DFND	1	0	340,000	0
Meridian Bank of Malvern	COM	58958P104	3,085	175,000	SH		DFND	1	0	175,000	0
Meridian Bancorp, Inc.	COM	58958U103	2,015	100,000	SH		DFND	1	0	100,000	0
National Presto Industries, Inc.	COM	637215104	2,203	23,500	SH		DFND	1	0	23,500	0
New York REIT	COM	64976L109	882	41,000	SH		DFND	1	0	41,000	0
News Corp	COM	65249B109	7,308	462,500	SH		DFND	1	0	462,500	0
NI Holdings Inc.	COM	65342T106	4,613	276,198	SH		DFND	1	0	276,198	0
Northeast Bancorp	COM	663904209	4,151	202,500	SH		DFND	1	0	202,500	0
OP Bancorp	COM	67109R109	747	60,000	SH		DFND	1	0	60,000	0
Oaktree Specialty Lending Corp.	COM	67401P108	526	125,000	SH		DFND	1	0	125,000	0
pdvWireless	COM	69290R104	732	24,519	SH		DFND	1	0	24,519	0
PCSB Financial	COM	69324R104	420	20,000	SH		SOLE	0	20,000	0	0
Pandora Media Inc.	COM	698354107	1,987	395,000	SH		DFND	1	0	395,000	0
Papa Murphy's Holdings	COM	698814100	12,302	2,531,369	SH		DFND	1	0	2,531,369	0
Park Electrochemical Corp	COM	700416209	723	42,955	SH		DFND	1	0	42,955	0
Peapack-Gladstone Financial Corp.	COM	704699107	3,366	100,800	SH		DFND	1	0	100,800	0
Permian Basin Rlty Trust	UNIT BEN INT	714236106	230	23,841	SH		SOLE	0	23,841	0	0
Plains All American Pipeline	UNIT LTD PARTN	726503105	8,977	407,500	SH		DFND	1	0	407,500	0
Plains All American Pipeline	UNIT LTD PARTN	726503105	244	11,081	SH		SOLE	0	11,081	0	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	3,613	166,130	SH		DFND	1	0	166,130	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	2,053	94,388	SH		SOLE	0	94,388	0	0
Popular, Inc.	COM UNIT RP IN	733174700	12,486	300,000	SH		DFND	1	0	300,000	0
Popular, Inc.	COM UNIT RP IN	733174700	416	10,000	SH		SOLE	0	10,000	0	0
Prudential Bancorp Inc.	COM	74431A101	2,336	128,787	SH		DFND	1	0	128,787	0
Randolph Bancorp, Inc.	COM	752378109	771	47,500	SH		DFND	1	0	47,500	0
Regions Financial Corp.	COM	7591EP100	9,689	521,500	SH		DFND	1	0	521,500	0
SI Financial Group	COM	78425V104	1,573	109,241	SH		DFND	1	0	109,241	0
S&W Seed Company	COM	785135104	24,532	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	792	100,240	SH		SOLE	0	100,240	0	0
Sanofi-Aventis SA, CVR	SPONSORED ADR	80105N113	1,367	3,235,625	SH		DFND	1	0	3,235,625	0
Sanofi-Aventis SA, CVR	SPONSORED ADR	80105N113	147	348,043	SH		SOLE	0	348,043	0	0
ShotSpotter, Inc.	COM	82536T107	5,366	202,500	SH		DFND	1	0	202,500	0
Steel Holdings LP Ltd Prshp Unit	LTD PRTRSHIP U	85814R107	103	5,773	SH		SOLE	0	5,773	0	0
Tejon Ranch Co.	COM	879080109	11,035	477,500	SH		DFND	1	0	477,500	0
Teva Pharmaceutical Industries Ltd.	SPONSORED ADR	881624209	1,792	104,875	SH		SOLE	0	104,875	0	0
Time Warner Inc.	COM NEW	887317303	14,187	150,000	SH		DFND	1	0	150,000	0
Time Warner Inc.	COM NEW	887317303	520	5,500	SH		SOLE	0	5,500	0	0
Trinity Place Holdings Inc.	COM	89656D101	29,022	4,464,896	SH		DFND	1	0	4,464,896	0
Vornado Realty Trust	SH BEN INT	929042109	5,606	83,300	SH		DFND	1	0	83,300	0
Waterstone Financial Inc.	COM	94188P101	20,655	1,193,922	SH		DFND	1	0	1,193,922	0
Westlake Chemical Corp.	COM	960413102	14,616	131,500	SH		DFND	1	0	131,500	0
Williams-Sonoma, Inc.	COM	969904101	4,063	77,000	SH		DFND	1	0	77,000	0
Wright Investors Service Holdings	COM	982345100	382	825,691	SH		DFND	1	0	825,691	0
XPO Logistics, Inc.	COM	983793100	13,133	129,000	SH		DFND	1	0	129,000	0
XPO Logistics, Inc.	COM	983793100	814	8,000	SH		SOLE	0	8,000	0	0
York Traditions Bank	COM	987159100	2,686	131,000	SH		DFND	1	0	131,000	0
Belmond Ltd. Class A	COM	G1154H107	3,791	340,000	SH		DFND	1	0	340,000	0
Bunge Limited	COM	G16962105	14,788	200,000	SH		DFND	1	0	200,000	0
Bunge Limited	COM	G16962105	2,958	40,000	SH		SOLE	0	40,000	0	0
TechnipFMC plc	COM	G87110105	9,489	322,200	SH		DFND	1	0	322,200	0
Chubb Limited	COM	h1467j104	4,610	33,706	SH		DFND	1	0	33,706	0
Constellium N.V.	CL A	N22035104	2,170	200,000	SH		DFND	1	0	200,000	0