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 | 22,328 | 957,459 | SH | DFND | 292,588 | 664,871 | 0 | ||
| Allergan PLC | COM | G0177J108 | 33,994 | 201,999 | SH | DFND | 45,356 | 156,643 | 0 | ||
| Avid Technology, Inc. | COM | 05367P100 | 5,863 | 1,291,514 | SH | DFND | 126,540 | 1,164,974 | 0 | ||
| Caesarstone Ltd. | COM | M20598104 | 9,683 | 492,760 | SH | DFND | 123,140 | 369,620 | 0 | ||
| Carolina Financial Corporation | COM | 143873107 | 406 | 10,325 | SH | DFND | 0 | 10,325 | 0 | ||
| Carrols Restaurant Group, Inc. | COM | 14574X104 | 21,887 | 1,954,185 | SH | DFND | 501,812 | 1,452,373 | 0 | ||
| CBIZ, Inc. | COM | 124805102 | 20,781 | 1,138,691 | SH | DFND | 234,355 | 904,336 | 0 | ||
| Celanese Corp. | COM | 150870103 | 14,136 | 141,067 | SH | DFND | 22,090 | 118,977 | 0 | ||
| Charter Financial Corp. | COM | 16122W108 | 16,573 | 812,816 | SH | DFND | 188,976 | 623,840 | 0 | ||
| Community Financial Corporatio | COM | 20368X101 | 2,964 | 79,644 | SH | DFND | 0 | 79,644 | 0 | ||
| CSW Industrials Inc. | COM | 126402106 | 681 | 15,120 | SH | DFND | 0 | 15,120 | 0 | ||
| Dirtt Environmental Solutions | COM | 25490H106 | 20,664 | 5,381,205 | SH | DFND | 1,357,100 | 4,024,105 | 0 | ||
| Everi Holdings, Inc. | COM | 30034T103 | 22,575 | 3,436,128 | SH | DFND | 870,571 | 2,565,557 | 0 | ||
| Fiesta Restaurant Group, Inc. | COM | 31660B101 | 22,552 | 1,219,019 | SH | DFND | 284,479 | 934,540 | 0 | ||
| First Defiance Financial Corp. | COM | 32006W106 | 209 | 3,647 | SH | DFND | 0 | 3,647 | 0 | ||
| First Northwest Bancorp | COM | 335834107 | 5,204 | 308,104 | SH | DFND | 64,475 | 243,629 | 0 | ||
| Gildan Activewear, Inc. | COM | 375916103 | 21,132 | 731,459 | SH | DFND | 166,290 | 565,169 | 0 | ||
| Hometrust Bancshares Inc. | COM | 437872104 | 8,959 | 343,930 | SH | DFND | 45,245 | 298,685 | 0 | ||
| Information Services Group | COM | 45675Y104 | 10,368 | 2,480,384 | SH | DFND | 834,730 | 1,645,654 | 0 | ||
| INTL FCStone, Inc. | COM | 46116V105 | 28,580 | 669,630 | SH | DFND | 172,136 | 497,494 | 0 | ||
| iShares Russell 2000 Index | COM | 464287655 | 425 | 2,800 | SH | DFND | 2,800 | 0 | 0 | ||
| Jamba, Inc. | COM | 47023A309 | 5,986 | 697,633 | SH | DFND | 228,624 | 469,009 | 0 | ||
| KKR & Co. L.P. | COM | 48248M102 | 35,767 | 1,761,920 | SH | DFND | 505,405 | 1,256,515 | 0 | ||
| National Fuel Gas Co. | COM | 636180101 | 20,233 | 393,249 | SH | DFND | 97,690 | 295,559 | 0 | ||
| Northrim BanCorp, Inc. | COM | 666762109 | 3,940 | 114,034 | SH | DFND | 26,200 | 87,834 | 0 | ||
| OceanFirst Financial Corp. | COM | 675234108 | 9,521 | 355,929 | SH | DFND | 94,929 | 261,000 | 0 | ||
| Old National Bancorp | COM | 680033107 | 3,822 | 226,157 | SH | DFND | 42,560 | 183,597 | 0 | ||
| Oppenheimer Holdings, Inc. | COM | 683797104 | 7,302 | 283,584 | SH | DFND | 80,269 | 203,315 | 0 | ||
| Peoples United Financial Inc. | COM | 712704105 | 745 | 39,944 | SH | DFND | 0 | 39,944 | 0 | ||
| Pope Resources Limited | COM | 732857107 | 3,386 | 48,169 | SH | DFND | 18,400 | 29,769 | 0 | ||
| QuinStreet, Inc. | COM | 74874Q100 | 59,475 | 4,657,369 | SH | DFND | 1,409,878 | 3,247,491 | 0 | ||
| Raymond James Financial, Inc. | COM | 754730109 | 16,096 | 180,027 | SH | DFND | 31,225 | 148,802 | 0 | ||
| SmartFinancial Inc. | COM | 83190L208 | 527 | 22,361 | SH | DFND | 0 | 22,361 | 0 | ||
| SpartanNash Co. | COM | 847215100 | 23,983 | 1,393,568 | SH | DFND | 329,952 | 1,063,616 | 0 | ||
| State Bank Financial Corp. | COM | 856190103 | 17,558 | 585,077 | SH | DFND | 145,525 | 439,552 | 0 | ||
| Stoneridge, Inc. | COM | 86183P102 | 11,866 | 429,913 | SH | DFND | 222,582 | 207,331 | 0 | ||
| Synovus Financial Corp. | COM | 87161C501 | 11,559 | 231,465 | SH | DFND | 51,765 | 179,700 | 0 | ||
| Tronox Limited | COM | Q9235V101 | 25,066 | 1,359,304 | SH | DFND | 329,785 | 1,029,519 | 0 | ||
| Universal Health Services, Inc | COM | 913903100 | 20,076 | 169,548 | SH | DFND | 38,657 | 130,891 | 0 | ||
| Valley National Bancorp | COM | 919794107 | 4,682 | 375,748 | SH | DFND | 76,639 | 299,109 | 0 | ||
| Vasco Data Security Intl. | COM | 92230Y104 | 13,724 | 1,059,778 | SH | DFND | 221,461 | 838,317 | 0 | ||
| Vista Outdoor Inc. | COM | 928377100 | 7,851 | 481,045 | SH | DFND | 78,530 | 402,515 | 0 | ||
| Visteon Corp. | COM | 92839U206 | 34,181 | 310,060 | SH | DFND | 87,375 | 222,685 | 0 | ||
| Zimmer Biomet Holdings, Inc. | COM | 98956P102 | 9,191 | 84,287 | SH | DFND | 17,620 | 66,667 | 0 | ||