Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UUP	INVESCO DB US DLR INDEX TR	440,100	$11.12M	9.8%	$24.99	—	BULLISH FD	46141D203
—	ENVISION HEALTHCARE CORP	205,360	$9.391M	8.3%	$45.73	—	COM	29414D100
ILPT	INDUSTRIAL LOGISTICS PPTYS T	372,038	$8.561M	7.6%	$20.43	—	COM SHS BEN INT	456237106
—	MARLIN BUSINESS SVCS CORP	244,872	$7.065M	6.2%	$23.61	—	COM	571157106
—	LORAL SPACE & COMMUNICATNS I	137,789	$6.256M	5.5%	$39.39	—	COM	543881106
—	PLAYA HOTELS & RESORTS NV	587,737	$5.66M	5.0%	$10.19	—	SHS	N70544106
OFS	OFS CAP CORP	423,747	$5.043M	4.5%	$13.61	-12.1%	COM	67103B100
—	RLJ LODGING TR	180,207	$4.682M	4.1%	$26.31	—	CUM CONV PFD A	74965L200
—	INTERNAP CORP	363,334	$4.589M	4.1%	$11.18	—	COM PAR	45885A409
—	VEREIT INC	603,336	$4.38M	3.9%	$7.39	—	COM	92339V100
—	CONSTELLIUM NV	332,183	$4.102M	3.6%	$10.55	—	CL A	N22035104
CCK	CROWN HOLDINGS INC	76,350	$3.665M	3.2%	$42.22	0.0%	COM	228368106
—	POAGE BANKSHARES INC	125,460	$3.18M	2.8%	$19.13	—	COM	730206109
—	CAREER EDUCATION CORP	212,119	$3.167M	2.8%	$13.64	—	COM	141665109
CAPL	CROSSAMERICA PARTNERS LP	161,051	$2.915M	2.6%	$17.17	—	UT LTD PTN INT	22758A105
WFC	WELLS FARGO CO NEW	50,900	$2.675M	2.4%	$46.23	+0.6%	COM	949746101
MSTR	MICROSTRATEGY INC	15,083	$2.121M	1.9%	$13.65	+2.9%	CL A NEW	594972408
SATS	ECHOSTAR CORP	40,700	$1.887M	1.7%	$38.07	0.0%	CL A	278768106
—	NATIONAL CINEMEDIA INC	176,996	$1.874M	1.7%	$7.40	—	COM	635309107
SUN	SUNOCO LP	58,487	$1.728M	1.5%	$27.20	—	COM U REP LP	86765K109
—	NICHOLAS FINANCIAL INC	145,737	$1.721M	1.5%	$9.17	—	COM NEW	65373J209
—	HOPFED BANCORP INC	97,047	$1.698M	1.5%	$14.68	—	COM	439734104
—	CINER RES LP	62,798	$1.697M	1.5%	$25.43	—	COM UNIT LTD	172464109
NODK	NI HLDGS INC	91,823	$1.549M	1.4%	$16.67	+0.2%	COM	65342T106
C	CITIGROUP INC	17,849	$1.28M	1.1%	$44.66	+22.6%	COM NEW	172967424
MX	MAGNACHIP SEMICONDUCTOR CORP	117,534	$1.164M	1.0%	$10.98	0.0%	COM	55933J203
FNWB	FIRST NORTHWEST BANCORP	72,682	$1.119M	1.0%	$14.22	+0.7%	COM	335834107
—	EQUITY COMWLTH	26,443	$849K	0.8%	$30.61	—	COM SH BEN INT	294628102
WCFB	WCF BANCORP INC	90,725	$849K	0.8%	$9.46	—	COM	92940L103
JPM	JPMORGAN CHASE & CO	7,484	$844K	0.7%	$70.90	+30.6%	COM	46625H100
GPRE	GREEN PLAINS INC	45,034	$775K	0.7%	$17.12	0.0%	COM	393222104
—	NORTHEAST BANCORP	34,883	$757K	0.7%	$21.73	—	COM NEW	663904209
—	GREEN PLAINS PARTNERS LP	44,942	$670K	0.6%	$15.97	—	COM REP PTR IN	393221106
—	ATLANTIC PWR CORP	252,054	$555K	0.5%	$2.44	—	COM NEW	04878Q863
SFBC	SOUND FINL BANCORP INC	13,042	$516K	0.5%	$22.51	+52.4%	COM	83607A100
IROQ	IF BANCORP INC	17,781	$410K	0.4%	$22.36	+9.5%	COM	44951J105
FUNC	FIRST UTD CORP	20,525	$386K	0.3%	$11.83	+29.4%	COM	33741H107
—	COMMUNITY WEST BANCSHARES	32,205	$386K	0.3%	$11.91	—	COM	204157101
CLBK	COLUMBIA FINL INC	23,100	$386K	0.3%	$16.70	0.0%	COM	197641103
—	WELLESLEY BANCORP INC	10,565	$362K	0.3%	$34.09	—	COM	949485106
GERN	GERON CORP	122,200	$339K	0.3%	—	—	Put	374163103
IWM	ISHARES TR	318,100	$267K	0.2%	—	—	Put	464287655
SPY	SPDR S&P 500 ETF TR	150,000	$185K	0.2%	—	—	Put	78462F103
—	EQUITY COMWLTH	6,392	$167K	0.1%	$26.09	—	CUM PFD S D 6.5%	294628201
LOB	LIVE OAK BANCSHARES INC	104,500	$97,000	0.1%	—	—	Put	53803X105
OZK	BANK OZK	37,000	$44,000	0.0%	—	—	Put	06417N103
HCI	HCI GROUP INC	99,400	$18,000	0.0%	—	—	Put	40416E103
UVE	UNIVERSAL INS HLDGS INC	85,100	$16,000	0.0%	—	—	Put	91359V107