The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 |
| Air Transport Services Group, | COM | 00922R105 | 17,549 | 1,099,585 | SH | DFND | 297,838 | 801,747 | 0 | ||
| Alere, Inc. | COM | 01449J105 | 29,580 | 759,047 | SH | DFND | 183,675 | 575,372 | 0 | ||
| Allergan PLC | COM | G0177J108 | 31,463 | 149,819 | SH | DFND | 34,531 | 115,288 | 0 | ||
| American Public Education, Inc | COM | 02913V103 | 6,052 | 246,515 | SH | DFND | 65,403 | 181,112 | 0 | ||
| Avid Technology, Inc. | COM | 05367P100 | 3,207 | 728,889 | SH | DFND | 126,540 | 602,349 | 0 | ||
| CA Technologies | COM | 12673P105 | 12,596 | 396,465 | SH | DFND | 68,484 | 327,981 | 0 | ||
| Cabela's, Inc. | COM | 126804301 | 17,896 | 305,655 | SH | DFND | 56,535 | 249,120 | 0 | ||
| Caesarstone SDOT | COM | M20598104 | 857 | 29,900 | SH | DFND | 29,900 | 0 | 0 | ||
| Carrols Restaurant Group, Inc. | COM | 14574X104 | 18,627 | 1,221,475 | SH | DFND | 399,102 | 822,373 | 0 | ||
| CBIZ, Inc. | COM | 124805102 | 7,902 | 576,821 | SH | DFND | 184,630 | 392,191 | 0 | ||
| Celanese Corp. | COM | 150870103 | 14,934 | 189,657 | SH | DFND | 24,045 | 165,612 | 0 | ||
| Charter Financial Corp. | COM | 16122W108 | 16,367 | 981,829 | SH | DFND | 260,896 | 720,933 | 0 | ||
| CSW Industrials Inc. | COM | 126402106 | 734 | 19,920 | SH | DFND | 1,680 | 18,240 | 0 | ||
| Everi Holdings, Inc. | COM | 30034T103 | 7,483 | 3,448,450 | SH | DFND | 814,571 | 2,633,879 | 0 | ||
| Fiesta Restaurant Group, Inc. | COM | 31660B101 | 9,805 | 328,488 | SH | DFND | 88,519 | 239,969 | 0 | ||
| First Defiance Financial Corp. | COM | 32006W106 | 524 | 10,337 | SH | DFND | 0 | 10,337 | 0 | ||
| First Northwest Bancorp | COM | 335834107 | 856 | 54,859 | SH | DFND | 0 | 54,859 | 0 | ||
| Fogo de Chao, Inc. | COM | 344177100 | 14,247 | 992,788 | SH | DFND | 183,149 | 809,639 | 0 | ||
| Gildan Activewear, Inc. | COM | 375916103 | 15,171 | 598,009 | SH | DFND | 156,990 | 441,019 | 0 | ||
| Golar LNG Limited | COM | G9456A100 | 4,733 | 206,313 | SH | DFND | 21,315 | 184,998 | 0 | ||
| Imation Corp. | COM | 45245A107 | 1,617 | 1,971,829 | SH | DFND | 109,200 | 1,862,629 | 0 | ||
| INTL FCStone, Inc. | COM | 46116V105 | 29,975 | 756,937 | SH | DFND | 178,470 | 578,467 | 0 | ||
| Jamba, Inc. | COM | 47023A309 | 7,693 | 746,861 | SH | DFND | 327,637 | 419,224 | 0 | ||
| KKR & Co. L.P. | COM | 48248M102 | 30,253 | 1,965,771 | SH | DFND | 525,805 | 1,439,966 | 0 | ||
| Mentor Graphics Corp. | COM | 587200106 | 37,231 | 1,009,236 | SH | DFND | 260,062 | 749,174 | 0 | ||
| National Fuel Gas Co. | COM | 636180101 | 20,067 | 354,295 | SH | DFND | 67,295 | 287,000 | 0 | ||
| Northrim BanCorp, Inc. | COM | 666762109 | 3,955 | 125,153 | SH | DFND | 26,200 | 98,953 | 0 | ||
| OceanFirst Financial Corp. | COM | 675234108 | 13,801 | 459,561 | SH | DFND | 100,729 | 358,832 | 0 | ||
| Old National Bancorp | COM | 680033107 | 9,067 | 499,568 | SH | DFND | 65,560 | 434,008 | 0 | ||
| Oppenheimer Holdings, Inc. | COM | 683797104 | 7,011 | 376,937 | SH | DFND | 128,334 | 248,603 | 0 | ||
| Pope Resources Limited | COM | 732857107 | 3,792 | 58,331 | SH | DFND | 18,400 | 39,931 | 0 | ||
| Quantum Corp. | COM | 747906204 | 11,076 | 13,311,187 | SH | DFND | 3,659,325 | 9,651,862 | 0 | ||
| QuinStreet, Inc. | COM | 74874Q100 | 20,429 | 5,433,183 | SH | DFND | 1,559,578 | 3,873,605 | 0 | ||
| Raymond James Financial, Inc. | COM | 754730109 | 17,339 | 250,313 | SH | DFND | 50,525 | 199,788 | 0 | ||
| Real Industry, Inc. | COM | 75601W104 | 5,383 | 882,379 | SH | DFND | 457,874 | 424,505 | 0 | ||
| Rent-A-Center, Inc. | COM | 76009N100 | 2,990 | 265,743 | SH | DFND | 68,000 | 197,743 | 0 | ||
| Seacoast Banking Corporation o | COM | 811707801 | 11,343 | 514,211 | SH | DFND | 143,193 | 371,018 | 0 | ||
| South State Corp. | COM | 840441109 | 2,382 | 27,250 | SH | DFND | 0 | 27,250 | 0 | ||
| SpartanNash Co. | COM | 847215100 | 30,443 | 769,932 | SH | DFND | 179,023 | 590,909 | 0 | ||
| State Bank Financial Corp. | COM | 856190103 | 18,214 | 678,125 | SH | DFND | 145,525 | 532,600 | 0 | ||
| Stoneridge, Inc. | COM | 86183P102 | 8,880 | 501,963 | SH | DFND | 249,392 | 252,571 | 0 | ||
| Suffolk Bancorp | COM | 864739107 | 2,174 | 50,779 | SH | DFND | 13,920 | 36,859 | 0 | ||
| Synovus Financial Corp. | COM | 87161C501 | 12,659 | 308,160 | SH | DFND | 53,085 | 255,075 | 0 | ||
| Triumph Group, Inc. | COM | 896818101 | 2,892 | 109,144 | SH | DFND | 25,285 | 83,859 | 0 | ||
| Tronox Limited | COM | Q9235V101 | 22,185 | 2,151,746 | SH | DFND | 648,475 | 1,503,271 | 0 | ||
| Universal Health Services, Inc | COM | 913903100 | 11,610 | 109,139 | SH | DFND | 26,582 | 82,557 | 0 | ||
| Valeant Pharmaceuticals Intl., | COM | 91911K102 | 6,942 | 478,125 | SH | DFND | 113,455 | 364,670 | 0 | ||
| Valley National Bancorp | COM | 919794107 | 5,884 | 505,480 | SH | DFND | 76,639 | 428,841 | 0 | ||
| Vasco Data Security Intl. | COM | 92230Y104 | 12,576 | 921,305 | SH | DFND | 210,201 | 711,104 | 0 | ||
| Visteon Corp. | COM | 92839U206 | 28,715 | 357,412 | SH | DFND | 91,000 | 266,412 | 0 | ||
| Willis Towers Watson Pub LTD | COM | G96629103 | 8,050 | 65,830 | SH | DFND | 9,816 | 56,014 | 0 | ||
| Zimmer Biomet Holdings, Inc. | COM | 98956P102 | 9,960 | 96,514 | SH | DFND | 19,380 | 77,134 | 0 | ||
| Alere, Inc Perp Pfd Conv Ser B | PFD | 01449J204 | 1,458 | 4,438 | SH | DFND | 3,257 | 1,181 | 0 | ||