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
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
ADVANTAGE OIL & GAS LTD COM 00765F101 376 59,636 SH   SOLE   59,636 0 0
AERCAP HOLDINGS NV SHS N00985106 6,017 117,723 SH   SOLE   117,723 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 3,380 500,000 SH   SOLE   500,000 0 0
AVALON HLDGS CORP CL A 05343P109 331 165,548 SH   SOLE   165,548 0 0
CNX COAL RES LP COM UNIT RP LP 12592V100 742 50,146 SH   SOLE   50,146 0 0
CONSOL ENERGY INC COM 20854P109 5,336 315,000 SH   SOLE   315,000 0 0
DIREXION SHS ETF TR DAILY SM CAP BEA 25490K521 1,160 85,000 SH   SOLE   85,000 0 0
DYNEGY INC NEW DEL COM 26817R108 2,350 240,000 SH   SOLE   240,000 0 0
EVOLUTION PETROLEUM CORP COM 30049A107 891 123,700 SH   SOLE   123,700 0 0
FLY LEASING LTD SPONSORED ADR 34407D109 2,304 164,350 SH   SOLE   164,350 0 0
FORTUNA SILVER MINES INC COM 349915108 219 50,000 SH   SOLE   50,000 0 0
GASTAR EXPL INC NEW COM 36729W202 250 284,582 SH   SOLE   284,582 0 0
GLOBAL SELF STORAGE INC COM 37955N106 373 77,294 SH   SOLE   77,294 0 0
GOODRICH PETE CORP COM PAR 382410843 5,825 599,903 SH   SOLE   599,903 0 0
INSTEEL INDUSTRIES INC COM 45774W108 2,611 100,000 SH   SOLE   100,000 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06746L422 1,715 43,750 SH   SOLE   43,750 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 251 2,669 SH   SOLE   2,669 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 852 8,939 SH   SOLE   8,939 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 340 8,939 SH   SOLE   8,939 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 1,497 35,756 SH   SOLE   35,756 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 749 17,878 SH   SOLE   17,878 0 0
LONESTAR RES US INC CL A VTG 54240F103 804 229,000 SH   SOLE   229,000 0 0
MACKINAC FINL CORP COM 554571109 1,342 86,583 SH   SOLE   86,583 0 0
MAG SILVER CORP COM 55903Q104 3,907 347,900 SH   SOLE   347,900 0 0
MAYS J W INC COM 578473100 2,112 44,939 SH   SOLE   44,939 0 0
NAPCO SEC TECHNOLOGIES INC COM 630402105 1,612 166,186 SH   SOLE   166,186 0 0
NEVSUN RES LTD COM 64156L101 2,132 977,800 SH   SOLE   977,800 0 0
NUVECTRA CORP COM 67075N108 3,045 229,675 SH   SOLE   229,675 0 0
POPULAR INC COM NEW 733174700 8,626 240,000 SH   SOLE   240,000 0 0
PROSHARES TR ULTRASHRT S&P500 74347B383 1,749 37,500 SH   SOLE   37,500 0 0
PROVIDENT FINL HLDGS INC COM 743868101 7,705 393,096 SH   SOLE   393,096 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 612 33,040 SH   SOLE   33,040 0 0
RAND CAP CORP COM 752185108 252 85,000 SH   SOLE   85,000 0 0
RANGE RES CORP COM 75281A109 489 25,000 SH   SOLE   25,000 0 0
RED LION HOTELS CORP COM 756764106 5,575 644,555 SH   SOLE   644,555 0 0
REIS INC COM 75936P105 2,961 164,482 SH   SOLE   164,482 0 0
RICHMONT MINES INC COM 76547T106 701 75,000 SH   SOLE   75,000 0 0
SOUTHERN MO BANCORP INC COM 843380106 9,887 270,958 SH   SOLE   270,958 0 0
TERRAFORM PWR INC CL A COM 88104R100 132 10,000 SH   SOLE   10,000 0 0
UNITED BANCORP INC OHIO COM 909911109 180 15,000 SH   SOLE   15,000 0 0
WAYNE SVGS BANCSHARES INC NE COM 94624Q101 1,515 84,305 SH   SOLE   84,305 0 0
WCF BANCORP INC COM 92940L103 752 78,708 SH   SOLE   78,708 0 0
WELLS FARGO CO NEW COM 949746101 7,424 134,623 SH   SOLE   134,623 0 0
WCF BANCORP INC COM 92940L103 752 78,708 SH   SOLE   78,708 0 0
WELLS FARGO CO NEW COM 949746101 7,424 134,623 SH   SOLE   134,623 0 0