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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Company COM 88579Y101   770,303 6,423 SH   DFND   4,000 2,423 0
Accenture PLC COM G1151C101   320,208 1,200 SH   DFND   1,200 0 0
Activision Blizzard Inc. COM 00507V109   775,145 10,126 SH   DFND   10,000 126 0
AerSale Corp. COM 00810F106   15,641,433 964,330 SH   DFND   493,784 470,546 0
Air Transport Services Group, Inc. COM 00922R105   22,041,276 848,394 SH   DFND   229,779 618,615 0
Allstate Corporation COM 020002101   325,440 2,400 SH   DFND   2,400 0 0
Alphabet Inc. COM 02079K305   1,043,761 11,830 SH   DFND   4,000 7,830 0
Amazon.com COM 023135106   809,760 9,640 SH   DFND   4,700 4,940 0
AMC Networks Inc. COM 00164V103   227,215 14,500 SH   DFND   14,500 0 0
Amerigo Resources Ltd. COM 03074G109   137,001 141,650 SH   DFND   141,650 0 0
Apple, Inc. COM 037833100   1,251,767 9,634 SH   DFND   1,900 7,734 0
Asure Software Inc. COM 04649U102   32,438,754 3,473,100 SH   DFND   937,849 2,535,251 0
Automatic Data Processing Inc. COM 053015103   346,347 1,450 SH   DFND   1,000 450 0
Bank of America Corp. COM 060505104   580,108 17,515 SH   DFND   11,000 6,515 0
Barrett Business Services COM 068463108   24,466,737 262,293 SH   DFND   80,970 181,323 0
Berkshire Hathaway Inc. Cl B COM 084670702   227,350 736 SH   DFND   0 736 0
CapStar Financial Holdings, Inc. COM 14070T102   9,240,533 523,247 SH   DFND   123,893 399,354 0
Charles River Associates COM 12618T105   9,717,636 79,373 SH   DFND   20,711 58,662 0
Citigroup Inc. COM 172967424   467,226 10,330 SH   DFND   5,500 4,830 0
Community Financial Corporation COM 20368X101   4,076,024 102,156 SH   DFND   13,904 88,252 0
Consolidated Edison Inc. COM 209115104   241,858 2,538 SH   DFND   0 2,538 0
Direxion Financial Bull 3X Shs COM 25459Y694   551,625 7,500 SH   DFND   7,500 0 0
Dow Jones Indl Average SPDR ETF COM 78467X109   496,995 1,500 SH   DFND   200 1,300 0
Duke Energy Corp. COM 26441C204   432,804 4,202 SH   DFND   2,500 1,702 0
Eastern Bankshares, Inc. COM 27627N105   11,360,407 658,574 SH   DFND   178,505 480,069 0
ECN Capital Corporation COM 26829L107   16,188,217 7,787,664 SH   DFND   2,476,450 5,311,214 0
Emerson Electric Co. COM 291011104   335,796 3,496 SH   DFND   3,000 496 0
Energy Select Sector SPDR COM 81369Y506   340,468 3,892 SH   DFND   0 3,892 0
Everi Holdings, Inc. COM 30034T103   15,854,885 1,104,870 SH   DFND   320,255 784,615 0
Exxon Mobil Corp. COM 30231G102   228,866 2,075 SH   DFND   700 1,375 0
Fiesta Restaurant Group, Inc. COM 31660B101   11,563,674 1,573,289 SH   DFND   498,088 1,075,201 0
Financials Select Sector SPDR COM 81369Y605   249,857 7,306 SH   DFND   0 7,306 0
First Busey Corp. COM 319383204   16,007,037 647,534 SH   DFND   209,786 437,748 0
First Northwest Bancorp COM 335834107   12,192,694 793,795 SH   DFND   217,104 576,691 0
FirstEnergy Corp. COM 337932107   230,670 5,500 SH   DFND   5,500 0 0
Harrow Health Inc. COM 415858109   15,374,916 1,041,661 SH   DFND   495,350 546,311 0
Healthcare Select Sector SPDR COM 81369Y209   381,446 2,808 SH   DFND   0 2,808 0
Home Depot Inc. COM 437076102   237,924 753 SH   DFND   0 753 0
Imax Corporation COM 45245E109   16,799,378 1,145,933 SH   DFND   313,180 832,753 0
Information Services Group COM 45675Y104   18,967,300 4,123,326 SH   DFND   1,085,268 3,038,058 0
Invesco QQQ Trust Series 1 COM 46090E103   452,307 1,699 SH   DFND   0 1,699 0
iShares Core MSCI Emerging Markets COM 46434G103   322,619 6,908 SH   DFND   0 6,908 0
iShares Core S&P 500 COM 464287200   1,452,993 3,782 SH   DFND   0 3,782 0
iShares Core S&P Mid Cap ETF COM 464287507   1,694,669 7,006 SH   DFND   0 7,006 0
iShares Core US Aggregate Bond ETF COM 464287226   964,854 9,948 SH   DFND   0 9,948 0
iShares Russell 2000 ETF COM 464287655   410,967 2,357 SH   DFND   800 1,557 0
iShares Silver Trust COM 46428Q109   407,370 18,500 SH   DFND   18,500 0 0
iShares US Pharmaceuticals ETF COM 464288836   204,743 1,100 SH   DFND   0 1,100 0
Jefferies Financial Group Inc. COM 47233W109   30,093,724 877,880 SH   DFND   278,690 599,190 0
Johnson & Johnson COM 478160104   833,251 4,717 SH   DFND   3,100 1,617 0
JP Morgan Chase Alerian MLP Index ETN COM 46625H365   215,781 9,921 SH   DFND   0 9,921 0
Keurig Dr Pepper Inc COM 49271V100   356,600 10,000 SH   DFND   10,000 0 0
KKR & Co. Inc. Cl A COM 48251W104   30,447,270 655,908 SH   DFND   184,280 471,628 0
Kroger Co. COM 501044101   289,770 6,500 SH   DFND   6,500 0 0
Lakeland Industries Inc. COM 511795106   14,909,260 1,120,997 SH   DFND   347,605 773,392 0
Lantheus Holdings Inc. COM 516544103   22,163,166 434,913 SH   DFND   136,386 298,527 0
Lincoln National Capital VI COM 534187109   1,311,130 42,680 SH   DFND   42,500 180 0
Mastercard Incorporated COM 57636Q104   504,539 1,451 SH   DFND   0 1,451 0
Medtronic PLC COM G5960L103   310,880 4,000 SH   DFND   4,000 0 0
Merck & Co. Inc. COM 58933Y105   388,870 3,505 SH   DFND   2,200 1,305 0
Meta Platforms, Inc. COM 30303M102   295,796 2,458 SH   DFND   0 2,458 0
Microsoft Corporation COM 594918104   1,364,324 5,689 SH   DFND   1,800 3,889 0
Mosaic Company COM 61945C103   350,960 8,000 SH   DFND   8,000 0 0
Motorcar Parts of America, Inc. COM 620071100   16,538,948 1,394,515 SH   DFND   374,155 1,020,360 0
NextEra Energy Inc. COM 65339F101   680,051 8,135 SH   DFND   0 8,135 0
Paramount Global COM 92556H206   337,600 20,000 SH   DFND   20,000 0 0
Paychex, Inc. COM 704326107   387,788 3,356 SH   DFND   3,000 356 0
Paypal Holdings Inc. COM 70450Y103   1,103,910 15,500 SH   DFND   15,500 0 0
Pepsico, Inc. COM 713448108   459,916 2,546 SH   DFND   900 1,646 0
Perion Network Ltd. COM M78673114   43,225,683 1,708,525 SH   DFND   531,780 1,176,745 0
PetIQ, Inc. COM 71639T106   239,720 26,000 SH   DFND   26,000 0 0
Petroleo Brasileiro S.A. COM 71654V408   532,500 50,000 SH   DFND   50,000 0 0
Pfizer, Inc. COM 717081103   453,093 8,843 SH   DFND   8,200 643 0
PowerFleet, Inc. COM 73931J109   7,771,875 2,889,173 SH   DFND   1,520,971 1,368,202 0
Procter & Gamble Co. COM 742718109   270,339 1,784 SH   DFND   700 1,084 0
ProShares S&P 500 Dividend Aristocrats COM 74348A467   2,815,181 31,283 SH   DFND   7,000 24,283 0
Qualcomm, Inc. COM 747525103   490,327 4,460 SH   DFND   4,200 260 0
Quest Diagnostics, Inc. COM 74834L100   375,456 2,400 SH   DFND   2,400 0 0
QuinStreet, Inc. COM 74874Q100   54,167,261 3,774,722 SH   DFND   1,201,591 2,573,131 0
Raymond James Financial, Inc. COM 754730109   8,371,377 78,347 SH   DFND   0 78,347 0
RealReal Inc. COM 88339P101   30,000 24,000 SH   DFND   24,000 0 0
S&P Regional Banking SPDR COM 78464A698   293,700 5,000 SH   DFND   0 5,000 0
Schwab International Equity ETF COM 808524805   505,589 15,697 SH   DFND   0 15,697 0
Scotts Miracle Gro COM 810186106   340,130 7,000 SH   DFND   7,000 0 0
Select Sector Spdr Tr Communication COM 81369Y852   235,151 4,900 SH   DFND   0 4,900 0
SmartFinancial Inc. COM 83190L208   15,001,953 545,526 SH   DFND   137,016 408,510 0
Southern Co. COM 842587107   285,640 4,000 SH   DFND   4,000 0 0
Standard & Poor's Depositary Receipts COM 78462F103   2,485,795 6,500 SH   DFND   6,500 0 0
Stoneridge, Inc. COM 86183P102   9,925,017 460,344 SH   DFND   136,568 323,776 0
StoneX Group Inc. COM 861896108   32,861,632 344,823 SH   DFND   98,121 246,702 0
Synovus Financial Corp. COM 87161C501   13,157,355 350,396 SH   DFND   99,970 250,426 0
Target Hospitality Corp. COM 87615L107   86,322,360 5,701,609 SH   DFND   1,670,057 4,031,552 0
Texas Instruments COM 882508104   419,040 2,536 SH   DFND   2,000 536 0
Tractor Supply Co. COM 892356106   247,467 1,100 SH   DFND   1,100 0 0
Tronox Holdings PLC COM G9087Q102   18,442,378 1,345,177 SH   DFND   427,005 918,172 0
Truist Financial Corp. COM 89832Q109   365,755 8,500 SH   DFND   8,500 0 0
United Parcel Service COM 911312106   257,089 1,479 SH   DFND   1,000 479 0
UnitedHealth Group COM 91324P102   289,618 546 SH   DFND   0 546 0
Utilities Select Sector SPDR COM 81369Y886   746,759 10,592 SH   DFND   0 10,592 0
Vanguard Dividend Appreciation Indx ETF COM 921908844   2,381,345 15,682 SH   DFND   5,400 10,282 0
Vanguard FTSE All World Ex US ETF COM 922042775   584,181 11,651 SH   DFND   0 11,651 0
Vanguard Intermediate Term Corp. Bond ETF COM 92206C870   466,158 6,014 SH   DFND   0 6,014 0
Vanguard Real Estate ETF COM 922908553   202,059 2,450 SH   DFND   0 2,450 0
Verint Systems Inc. COM 92343X100   13,235,379 364,812 SH   DFND   102,450 262,362 0
Visa Inc. COM 92826C839   382,527 1,841 SH   DFND   0 1,841 0
Visteon Corp. COM 92839U206   18,840,347 144,006 SH   DFND   40,319 103,687 0
Walmart, Inc. COM 931142103   283,105 1,997 SH   DFND   0 1,997 0
Walt Disney Co. COM 254687106   521,801 6,006 SH   DFND   3,200 2,806 0
Waste Management COM 94106L109   357,466 2,279 SH   DFND   0 2,279 0
Western Union Company COM 959802109   275,400 20,000 SH   DFND   20,000 0 0
WisdomTree CBOE S&P 500 PutWrite Strategy COM 97717X560   382,402 12,733 SH   DFND   0 12,733 0
WisdomTree US Mid-Cap Div Fund COM 97717W505   1,949,428 47,385 SH   DFND   0 47,385 0
iShares Russell 2000 ETF COM 464287655   34,872 200 SH Put DFND   200 0 0
Lincoln National Corp COM 534187109   844,800 27,500 SH Put DFND   27,500 0 0
Paramount Global Class B COM 92556H206   337,600 20,000 SH Call DFND   20,000 0 0
PayPal Holdings, Inc. COM 70450Y103   712,200 10,000 SH Put DFND   10,000 0 0
Petroleo Brasileiro SA Sponsored ADR COM 71654V408   852,000 80,000 SH Put DFND   80,000 0 0
Scotts Miracle-Gro Company Class A COM 810186106   680,260 14,000 SH Call DFND   14,000 0 0
SPDR Dow Jones Industrial Average ETF Trust COM 78467X109   66,266 200 SH Put DFND   200 0 0
UiPath, Inc. Class A COM 90364P105   413,075 32,500 SH Call DFND   32,500 0 0