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
AERCAP HOLDINGS NV SHS N00985106 519 9,977 SH   SOLE   9,977 0 0
ALLY FINL INC COM 02005N100 4,058 130,953 SH   SOLE   130,953 0 0
ALPHABET INC CAP STK CL A 02079K305 2,742 2,532 SH   SOLE   2,532 0 0
ANADARKO PETE CORP COM 032511107 12,685 179,773 SH   SOLE   179,773 0 0
ATLANTIC PWR CORP COM NEW 04878Q863 1,006 415,502 SH   SOLE   415,502 0 0
CINER RES LP COM UNIT LTD 172464109 3,158 162,849 SH   SOLE   162,849 0 0
CITIGROUP INC COM NEW 172967424 978 13,963 SH   SOLE   13,963 0 0
COMMUNITY WEST BANCSHARES COM 204157101 772 79,992 SH   SOLE   79,992 0 0
CORNERSTONE BLDG BRANDS INC COM 21925D109 1,562 268,000 SH   SOLE   268,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,923 33,878 SH   SOLE   33,878 0 0
DELTA APPAREL INC COM 247368103 2,855 123,146 SH   SOLE   123,146 0 0
ECHOSTAR CORP CL A 278768106 3,896 87,905 SH   SOLE   87,905 0 0
FIRST NORTHWEST BANCORP COM 335834107 851 52,365 SH   SOLE   52,365 0 0
GREEN PLAINS INC COM 393222104 4,024 373,312 SH   SOLE   373,312 0 0
HOPFED BANCORP INC COM 439734104 2,266 119,447 SH   SOLE   119,447 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 8,107 389,379 SH   SOLE   389,379 0 0
INVESCO DB US DLR INDEX TR BULLISH FD 46141D203 12,493 481,050 SH   SOLE   481,050 0 0
LORAL SPACE & COMMUNICATNS I COM 543881106 4,206 121,873 SH   SOLE   121,873 0 0
MARLIN BUSINESS SVCS CORP COM 571157106 13,307 533,760 SH   SOLE   533,760 0 0
MERRIMACK PHARMACEUTICALS IN COM NEW 590328209 3,780 624,756 SH   SOLE   624,756 0 0
META FINL GROUP INC COM 59100U108 1,388 49,496 SH   SOLE   49,496 0 0
MICROSTRATEGY INC CL A NEW 594972408 1,806 12,602 SH   SOLE   12,602 0 0
NATIONAL CINEMEDIA INC COM 635309107 1,932 294,441 SH   SOLE   294,441 0 0
NELNET INC CL A 64031N108 4,039 68,202 SH   SOLE   68,202 0 0
NEOS THERAPEUTICS INC COM 64052L106 33 25,935 SH   SOLE   25,935 0 0
NI HLDGS INC COM 65342T106 1,947 110,577 SH   SOLE   110,577 0 0
NICHOLAS FINANCIAL INC COM NEW 65373J209 261 27,719 SH   SOLE   27,719 0 0
NORTHEAST BK LEWISTON ME COM 66405S100 1,065 38,624 SH   SOLE   38,624 0 0
OFS CAP CORP COM 67103B100 1,172 97,693 SH   SOLE   97,693 0 0
PENN NATL GAMING INC COM 707569109 6,567 340,980 SH   SOLE   340,980 0 0
RED HAT INC COM 756577102 11,850 63,111 SH   SOLE   63,111 0 0
RLJ LODGING TR CUM CONV PFD A 74965L200 12,001 458,584 SH   SOLE   458,584 0 0
RMR GROUP INC CL A 74967R106 446 9,500 SH   SOLE   9,500 0 0
SEARS HOMETOWN & OUTLET STOR COM 812362101 73 30,600 SH   SOLE   30,600 0 0
SOUND FINL BANCORP INC COM 83607A100 653 19,127 SH   SOLE   19,127 0 0
SOUTHWEST AIRLS CO COM 844741108 1,574 31,000 SH   SOLE   31,000 0 0
TUESDAY MORNING CORP COM NEW 899035505 339 200,730 SH   SOLE   200,730 0 0
WCF BANCORP INC COM 92940L103 1,095 134,037 SH   SOLE   134,037 0 0
WELLS FARGO CO NEW COM 949746101 1,893 40,000 SH   SOLE   40,000 0 0