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
AT&T Inc.	COM	00206R102	24,045	842,500	SH		DFND	1	0	842,500	0
AT&T Inc.	COM	00206R102	1,359	47,623	SH		SOLE	0	47,623	0	0
Advanced Emissions Solutions Inc.	COM	00770C101	8,440	800,000	SH		DFND	1	0	800,000	0
Alcentra Capital Corp	COM	01374T102	1,370	211,717	SH		DFND	1	0	211,717	0
Alliance Data Systems Corp	COM	018581108	10,971	73,100	SH		DFND	1	0	73,100	0
Alphabet Inc.	CAP STK CL A	02079K305	3,135	3,000	SH		SOLE	0	3,000	0	0
American Midstream Partners LP	COM UNIT RP IN	02752P100	2,332	769,724	SH		DFND	1	0	769,724	0
American Midstream Partners LP	COM UNIT RP IN	02752P100	17	5,775	SH		SOLE	0	5,775	0	0
American River Bankshares	COM	029326105	329	23,602	SH		DFND	1	0	23,602	0
Anadarko Petroleum Corp.	COM	032511107	2,718	62,000	SH		DFND	1	0	62,000	0
Atlantic Capital Bancshares	COM	048269203	15,553	950,093	SH		DFND	1	0	950,093	0
BKF Capital Group, Inc.	COM	05548G201	335	29,380	SH		DFND	1	0	29,380	0
BRT Realty Trust	COM	055645303	1,926	168,369	SH		DFND	1	0	168,369	0
BMC Stock Holdings Inc.	COM	05591B109	19,553	1,263,105	SH		DFND	1	0	1,263,105	0
Babcock & Wilcox Enterprises	COM	05614L100	227	582,591	SH		DFND	1	0	582,591	0
Baker Hughes a GE Company	COM	05722G100	215	10,000	SH		SOLE	0	10,000	0	0
The Bancorp Bank	COM	05969A105	3,244	407,500	SH		DFND	1	0	407,500	0
Banc of California, Inc.	COM	05990K106	17,203	1,292,500	SH		DFND	1	0	1,292,500	0
Bank of America Corporation	COM	060505104	246	10,000	SH		SOLE	0	10,000	0	0
Barnes & Noble Edu. Inc	COM	06777U101	1,593	397,300	SH		DFND	1	0	397,300	0
Blackberry Limited	COM	09228F103	4,142	582,500	SH		DFND	1	0	582,500	0
Blackberry Limited	COM	09228F103	356	50,000	SH		SOLE	0	50,000	0	0
CBM Bancorp, Inc.	COM	1248XT104	313	25,000	SH		DFND	1	0	25,000	0
CIBL, Inc.	COM	12543Y104	363	215	SH		DFND	1	0	215	0
CIT Group Inc.	COM NEW	125581801	22,866	597,500	SH		DFND	1	0	597,500	0
CIT Group Inc.	COM NEW	125581801	383	10,000	SH		SOLE	0	10,000	0	0
Campbell Soup Company	COM	134429109	9,567	290,000	SH		DFND	1	0	290,000	0
Carbon Natural Gas Co.	COM	14115T208	1,953	211,112	SH		DFND	1	0	211,112	0
Carter Bank & Trust	COM	146102108	13,370	891,327	SH		DFND	1	0	891,327	0
Columbia Financial Inc.	COM	197641103	7,645	500,000	SH		DFND	1	0	500,000	0
Continental Resources Inc.	COM	212015101	4,019	100,000	SH		DFND	1	0	100,000	0
Continental Resources Inc.	COM	212015101	6,832	170,000	SH		SOLE	0	170,000	0	0
Crimson Wine Group Ltd.	COM	22662X100	8,136	1,039,804	SH		DFND	1	0	1,039,804	0
Cumulus Media Inc.	COM	231082801	270	25,000	SH		DFND	1	0	25,000	0
Devon Energy Corp. New	COM	25179M103	766	34,000	SH		SOLE	0	34,000	0	0
Dolby Laboratories Inc.	COM	25659T107	33,573	542,900	SH		DFND	1	0	542,900	0
Dolby Laboratories Inc.	COM	25659T107	201	3,255	SH		SOLE	0	3,255	0	0
DowDuPont Inc.	COM	26078J100	15,777	295,000	SH		DFND	1	0	295,000	0
DowDuPont Inc.	COM	26078J100	3,243	60,640	SH		SOLE	0	60,640	0	0
Extraction Oil & Gas, Inc.	COM	30227M105	1,421	331,200	SH		DFND	1	0	331,200	0
Exxon Mobil Corp.	COM	30231G102	886	13,000	SH		SOLE	0	13,000	0	0
FMC Corp.	COM	302491303	18,488	250,000	SH		DFND	1	0	250,000	0
FMC Corp.	COM	302491303	3,328	45,000	SH		SOLE	0	45,000	0	0
FSB Bancorp	COM	30289C102	3,089	181,713	SH		DFND	1	0	181,713	0
Farmers & Merchants Bank	COM	308243104	1,563	203	SH		SOLE	0	203	0	0
Federal Life Group, Inc.	COM	313533101	1	100	SH		DFND	1	0	100	0
First Bank	COM	31931U102	2,425	200,100	SH		DFND	1	0	200,100	0
First of Long Island Corp	COM	320734106	1,696	85,000	SH		DFND	1	0	85,000	0
Franklin Resources Inc.	COM	354613101	6,190	208,700	SH		DFND	1	0	208,700	0
Franklin Resources Inc.	COM	354613101	817	27,530	SH		SOLE	0	27,530	0	0
GAMCO Investors, Inc.	COM	361438104	912	54,000	SH		DFND	1	0	54,000	0
General Electric Co.	COM	369604103	1,287	170,000	SH		DFND	1	0	170,000	0
Groupon, Inc.	COM	399473107	7,360	2,300,000	SH		DFND	1	0	2,300,000	0
Groupon, Inc.	COM	399473107	640	200,000	SH		SOLE	0	200,000	0	0
Gulf Coast Ultra Deep Rty Trust Unit	UNIT BEN INT	40222T104	143	5,000,000	SH		DFND	1	0	5,000,000	0
Gulf Coast Ultra Deep Rty Trust Unit	UNIT BEN INT	40222T104	21	721,942	SH		SOLE	0	721,942	0	0
Gyrodyne, LLC	COM	403829104	1,398	80,800	SH		DFND	1	0	80,800	0
Gyrodyne, LLC	COM	403829104	81	4,658	SH		SOLE	0	4,658	0	0
Halcon Resources Group	COM PAR NEW	40537Q605	306	180,000	SH		DFND	1	0	180,000	0
Halliburton Co.	COM	406216101	399	15,000	SH		SOLE	0	15,000	0	0
Helmerich & Payne Inc.	COM	423452101	4,794	100,000	SH		DFND	1	0	100,000	0
Hess Corporation	COM	42809H107	2,765	68,282	SH		SOLE	0	68,282	0	0
Highland Bankshares Inc.	COM	430893107	2,062	396,458	SH		DFND	1	0	396,458	0
Hugoton Realty Trust TEX Unit Ben Int	UNIT BEN INT	444717102	103	190,440	SH		SOLE	0	190,440	0	0
ICC Holdings, Inc.	COM	44931Q104	677	49,630	SH		DFND	1	0	49,630	0
Innoviva, Inc.	COM	45781M101	916	52,500	SH		DFND	1	0	52,500	0
Intel Corp.	COM	458140100	37,544	800,000	SH		DFND	1	0	800,000	0
Intel Corp.	COM	458140100	58,663	1,250,000	SH		SOLE	0	1,250,000	0	0
Investors Bancorp, Inc.	COM	46146L101	13,364	1,285,000	SH		DFND	1	0	1,285,000	0
JBG SMITH Properties	COM	46590V100	310	8,912	SH		DFND	1	0	8,912	0
Jack in the Box Inc.	COM	466367109	2,585	33,302	SH		DFND	1	0	33,302	0
Jefferies Financial Group	COM	47233W109	7,812	450,000	SH		DFND	1	0	450,000	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	5,072	56,800	SH		DFND	1	0	56,800	0
Kearny Financial Corp.	COM	48716P108	17,854	1,392,697	SH		DFND	1	0	1,392,697	0
LICT Corp.	COM	50187G104	3,974	275	SH		DFND	1	0	275	0
Luther Bank Corp	COM	550550107	2,751	305,000	SH		DFND	1	0	305,000	0
MB Bancorp Inc.	COM	55280E104	2,418	171,459	SH		DFND	1	0	171,459	0
MSB Financial	COM	55352L101	3,122	174,897	SH		DFND	1	0	174,897	0
The Macerich Company	COM	554382101	4,328	100,000	SH		DFND	1	0	100,000	0
The Medicines Company	COM	584688105	3,637	190,000	SH		DFND	1	0	190,000	0
Mercantil Bank Holding Corp.	CL A NEW	58734F305	5,204	400,000	SH		DFND	1	0	400,000	0
Meredith Corp.	COM	589433101	18,605	358,200	SH		DFND	1	0	358,200	0
Meridian Corp.	COM	58958P104	5,154	300,190	SH		DFND	1	0	300,190	0
Meridian Bancorp, Inc.	COM	58958U103	1,432	100,000	SH		DFND	1	0	100,000	0
Mid-Southern Bancorp	COM	59548Q107	1,812	156,578	SH		DFND	1	0	156,578	0
Bunge Limited	COM	616962105	26,987	505,000	SH		DFND	1	0	505,000	0
Bunge Limited	COM	616962105	2,138	40,000	SH		SOLE	0	40,000	0	0
News Corp	COM	65249B109	5,278	465,000	SH		DFND	1	0	465,000	0
NI Holdings Inc.	COM	65342T106	6,975	443,400	SH		DFND	1	0	443,400	0
Northeast Bancorp	COM	663904209	3,875	231,637	SH		DFND	1	0	231,637	0
Oaktree Specialty Lending Corp.	COM	67401P108	635	150,100	SH		DFND	1	0	150,100	0
pdvWireless	COM	69290R104	1,661	44,431	SH		DFND	1	0	44,431	0
PDL Community Bancorp	COM	69290X101	631	49,501	SH		DFND	1	0	49,501	0
PCSB Financial	COM	69324R104	7	369	SH		SOLE	0	369	0	0
Papa Murphy's Holdings	COM	698814100	12,024	2,531,369	SH		DFND	1	0	2,531,369	0
Peapack-Gladstone Financial Corp.	COM	704699107	2,538	100,800	SH		DFND	1	0	100,800	0
Permian Basin Rlty Trust	UNIT BEN INT	714236106	82	13,841	SH		SOLE	0	13,841	0	0
Plains All American Pipeline	UNIT LTD PARTN	726503105	8,166	407,500	SH		DFND	1	0	407,500	0
Plains All American Pipeline	UNIT LTD PARTN	726503105	222	11,081	SH		SOLE	0	11,081	0	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	3,339	166,130	SH		DFND	1	0	166,130	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	1,897	94,388	SH		SOLE	0	94,388	0	0
Popular, Inc.	COM UNIT RP IN	733174700	14,166	300,000	SH		DFND	1	0	300,000	0
Prudential Bancorp Inc.	COM	74431A101	2,286	129,896	SH		DFND	1	0	129,896	0
Red Hat, Inc.	COM	756577102	1,054	6,000	SH		DFND	1	0	6,000	0
Regions Financial Corp.	COM	7591EP100	4,240	316,878	SH		DFND	1	0	316,878	0
SI Financial Group	COM	78425V104	1,750	137,500	SH		DFND	1	0	137,500	0
S&W Seed Company	COM	785135104	28,860	15,945,017	SH		DFND	1	0	15,945,017	0
William H. Sadlier, Inc.	COM	786327106	1,018	21,217	SH		DFND	1	0	21,217	0
San Juan Basin Realty Trust Unit	UNIT BEN INT	798241105	481	100,240	SH		SOLE	0	100,240	0	0
Sanofi-Aventis SA, CVR	SPONSORED ADR	80105N113	1,553	3,235,625	SH		DFND	1	0	3,235,625	0
Sanofi-Aventis SA, CVR	SPONSORED ADR	80105N113	167	348,043	SH		SOLE	0	348,043	0	0
Steel Holdings LP Ltd Prshp Unit	LTD PRTRSHIP U	85814R107	77	5,773	SH		SOLE	0	5,773	0	0
Tejon Ranch Co.	COM	879080109	7,544	455,000	SH		DFND	1	0	455,000	0
Teva Pharmaceutical Industries Ltd.	SPONSORED ADR	881624209	1,617	104,875	SH		SOLE	0	104,875	0	0
Tidewater Warrant Exp 11/24/24	*W EXP 11/24/202	88642R174	4	7,444	SH		DFND	1	0	7,444	0
Trinity Place Holdings Inc.	COM	89656D101	19,883	4,581,392	SH		DFND	1	0	4,581,392	0
Twenty First Century Fox A	CL A	90130A101	1,203	25,000	SH		DFND	1	0	25,000	0
Twenty-First Century Fox Class B	CL B	90130A200	5,256	110,000	SH		DFND	1	0	110,000	0
Vornado Realty Trust	SH BEN INT	929042109	6,699	108,000	SH		DFND	1	0	108,000	0
Waterstone Financial Inc.	COM	94188P101	20,131	1,201,121	SH		DFND	1	0	1,201,121	0
Westlake Chemical Corp.	COM	960413102	6,074	91,800	SH		DFND	1	0	91,800	0
Williams-Sonoma, Inc.	COM	969904101	2,775	55,000	SH		DFND	1	0	55,000	0
Wright Investors Service Holdings	COM	982345100	314	825,691	SH		DFND	1	0	825,691	0
XPO Logistics, Inc.	COM	983793100	7,273	127,500	SH		DFND	1	0	127,500	0
York Traditions Bank	COM	987159100	2,450	131,000	SH		DFND	1	0	131,000	0
TechnipFMC plc	COM	G87110105	6,309	322,200	SH		DFND	1	0	322,200	0
Chubb Limited	COM	h1467j104	4,354	33,706	SH		DFND	1	0	33,706	0
Constellium N.V.	COM	N22035104	2,167	310,000	SH		DFND	1	0	310,000	0