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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
A10 NETWORKS INC COM 002121101   550 80,000 SH   DFND 1,2 0 80,000 0
ANDERSONS INC COM 034164103   379 15,000 SH   DFND 1,2 0 15,000 0
APTEVO THERAPEUTICS INC COM 03835L108   79 120,184 SH   DFND 1,2 0 120,184 0
AVID TECHNOLOGY INC COM 05367P100   343 40,000 SH   DFND 1,2 0 40,000 0
AXALTA COATING SYSTEMS LTD COM G0750C108   304 10,000 SH   DFND 1,2 0 10,000 0
BBX CAP CORP NEW CL A 05491N104   1,431 300,000 SH   DFND 1,2 0 300,000 0
BIGLARI HLDGS INC COM STK CL A 08986R408   869 1,449 SH   DFND 1,2 0 1,449 0
BIGLARI HLDGS INC COM STK CL B 08986R309   9,504 83,060 SH   DFND 1,2 0 83,060 0
CAI INTERNATIONAL INC COM 12477X106   6,665 230,000 SH   DFND 1,2 0 230,000 0
CATALYST BIOSCIENCES INC COM NEW 14888D208   272 40,000 SH   DFND 1,2 0 40,000 0
CERENCE INC COM 156727109   566 25,000 SH   DFND 1,2 0 25,000 0
CIM COML TR CORP COM NEW 125525584   1,450 100,000 SH   DFND 1,2 0 100,000 0
CIVEO CORP CDA COM 17878Y108   1,516 1,175,000 SH   DFND 1,2 0 1,175,000 0
COLONY CAPITAL INC CL A COM 19626G108   475 100,000 SH   DFND 1,2 0 100,000 0
COMPUTER PROGRAMS & SYS INC COM 205306103   554 21,000 SH   DFND 1,2 0 21,000 0
CRAWFORD & CO CL A 224633206   832 72,500 SH   DFND 1,2 0 72,500 0
CSS INDS INC COM 125906107   1,632 370,000 SH   DFND 1,2 0 370,000 0
CUI GLOBAL INC COM NEW 126576206   220 200,000 SH   DFND 1,2 0 200,000 0
DEVON ENERGY CORP NEW COM 25179M103   390 15,000 SH   DFND 1,2 0 15,000 0
DINE BRANDS GLOBAL INC COM 254423106   668 8,000 SH   DFND 1,2 0 8,000 0
DONNELLEY FINL SOLUTIONS INC COM 25787G100   471 45,000 SH   DFND 1,2 0 45,000 0
ENERGY TRANSFER LP COM UT LTD PTN 29273V100   642 50,000 SH   DFND 1,2 0 50,000 0
ENZO BIOCHEM INC COM 294100102   1,912 727,000 SH   DFND 1,2 0 727,000 0
EXTERRAN CORP COM 30227H106   744 95,000 SH   DFND 1,2 0 95,000 0
FIESTA RESTAURANT GROUP INC COM 31660B101   593 60,000 SH   DFND 1,2 0 60,000 0
FLOTEK INDS INC DEL COM 343389102   1,710 855,000 SH   DFND 1,2 0 855,000 0
GCP APPLIED TECHNOLOGIES INC COM 36164Y101   341 15,000 SH   DFND 1,2 0 15,000 0
GLOBAL SHIP LEASE INC NEW COM CL A Y27183600   551 62,380 SH   DFND 1,2 0 62,380 0
GLOBALSCAPE INC COM 37940G109   2,163 220,000 SH   DFND 1,2 0 220,000 0
GP STRATEGIES CORP COM 36225V104   397 30,000 SH   DFND 1,2 0 30,000 0
GRAN TIERRA ENERGY INC COM 38500T101   452 350,000 SH   DFND 1,2 0 350,000 0
GRANITE CONSTR INC COM 387328107   401 14,500 SH   DFND 1,2 0 14,500 0
GROUPON INC COM 399473107   239 100,000 SH   DFND 1,2 0 100,000 0
GULF ISLAND FABRICATION INC COM 402307102   949 187,176 SH   DFND 1,2 0 187,176 0
HARTE-HANKS INC COM 416196202   2,013 562,202 SH   DFND 1,2 0 562,202 0
HARVARD BIOSCIENCE INC COM 416906105   1,199 393,000 SH   DFND 1,2 0 393,000 0
HEALTH INS INNOVATIONS INC COM CL A 42225K106   482 25,000 SH   DFND 1,2 0 25,000 0
HILL INTERNATIONAL INC COM 431466101   632 200,000 SH   DFND 1,2 0 200,000 0
HIREQUEST INC COM 433535101   709 100,000 SH   DFND 1,2 0 100,000 0
HOUSTON WIRE & CABLE CO COM 44244K109   3,550 805,000 SH   DFND 1,2 0 805,000 0
IMMERSION CORP COM 452521107   1,858 250,000 SH   DFND 1,2 0 250,000 0
INGREDION INC COM 457187102   372 4,000 SH   DFND 1,2 0 4,000 0
INVESCO QQQ TR UNIT SER 1 46090E103   44 20,000 SH Put DFND 1,2 0 20,000 0
LEAF GROUP LTD COM 52177G102   573 143,187 SH   DFND 1,2 0 143,187 0
LUBYS INC COM 549282101   1,936 880,200 SH   DFND 1,2 0 880,200 0
MARATHON PETE CORP COM 56585A102   723 12,000 SH   DFND 1,2 0 12,000 0
MDC PARTNERS INC CL A SUB VTG 552697104   278 100,000 SH   DFND 1,2 0 100,000 0
MEDLEY CAP CORP COM 58503F106   2,385 1,094,225 SH   DFND 1,2 0 1,094,225 0
MIX TELEMATICS LTD SPONSORED ADR 60688N102   324 25,000 SH   DFND 1,2 0 25,000 0
MONTAGE RES CORP COM 61179L100   715 90,000 SH   DFND 1,2 0 90,000 0
NET 1 UEPS TECHNOLOGIES INC COM NEW 64107N206   372 100,000 SH   DFND 1,2 0 100,000 0
NXT ID INC COM NEW 67091J206   1,009 2,241,569 SH   DFND 1,2 0 2,241,569 0
OPIANT PHARMACEUTICALS INC COM 683750103   3,815 264,900 SH   DFND 1,2 0 264,900 0
ORION GROUP HOLDINGS INC COM 68628V308   428 82,500 SH   DFND 1,2 0 82,500 0
PDC ENERGY INC COM 69327R101   785 30,000 SH   DFND 1,2 0 30,000 0
PDL BIOPHARMA INC COM 69329Y104   730 225,000 SH   DFND 1,2 0 225,000 0
PLX PHARMA INC COM 72942A107   44 10,000 SH   DFND 1,2 0 10,000 0
PORTMAN RIDGE FIN CORP COM 73688F102   755 356,280 SH   DFND 1,2 0 356,280 0
POTBELLY CORP COM 73754Y100   295 70,000 SH   DFND 1,2 0 70,000 0
READING INTERNATIONAL INC CL A 755408101   168 15,000 SH   DFND 1,2 0 15,000 0
RECRO PHARMA INC COM 75629F109   733 40,000 SH   DFND 1,2 0 40,000 0
RED LION HOTELS CORP COM 756764106   163 43,614 SH   DFND 1,2 0 43,614 0
RED ROBIN GOURMET BURGERS IN COM 75689M101   743 22,500 SH   DFND 1,2 0 22,500 0
RESIDEO TECHNOLOGIES INC COM 76118Y104   298 25,000 SH   DFND 1,2 0 25,000 0
RMR GROUP INC CL A 74967R106   525 11,500 SH   DFND 1,2 0 11,500 0
ROCKY MTN CHOCOLATE FACTORY COM 77467X101   2,667 288,947 SH   DFND 1,2 0 288,947 0
SELECT INTERIOR CONCEPTS INC CL A 816120307   1,357 151,000 SH   DFND 1,2 0 151,000 0
SPARK NETWORKS SE SPONSORED ADR 846517100   408 90,000 SH   DFND 1,2 0 90,000 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   29 10,000 SH Put DFND 1,2 0 10,000 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730   1,422 60,000 SH   DFND 1,2 0 60,000 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107   484 40,000 SH   DFND 1,2 0 40,000 0
STRATUS PPTYS INC COM NEW 863167201   1,996 64,420 SH   DFND 1,2 0 64,420 0
SUPPORT COM INC COM NEW 86858W200   1,419 1,301,874 SH   DFND 1,2 0 1,301,874 0
SYNACOR INC COM 871561106   2,862 1,883,000 SH   DFND 1,2 0 1,883,000 0
TETRA TECHNOLOGIES INC DEL COM 88162F105   1,823 930,000 SH   DFND 1,2 0 930,000 0
THIRD PT REINS LTD COM G8827U100   579 55,000 SH   DFND 1,2 0 55,000 0
TRANSGLOBE ENERGY CORP COM 893662106   4,825 3,482,660 SH   DFND 1,2 0 3,482,660 0
TRIBUNE PUBG CO NEW COM 89609W107   163 12,390 SH   DFND 1,2 0 12,390 0
TRINITY BIOTECH PLC SPON ADR NEW 896438306   970 938,600 SH   DFND 1,2 0 938,600 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   764 51,243 SH   DFND 1,2 0 51,243 0
VAALCO ENERGY INC COM NEW 91851C201   5,486 2,471,000 SH   DFND 1,2 0 2,471,000 0
VENATOR MATLS PLC SHS G9329Z100   632 165,000 SH   DFND 1,2 0 165,000 0
VOXX INTL CORP CL A 91829F104   366 83,500 SH   DFND 1,2 0 83,500 0
ZAGG INC COM 98884U108   487 60,000 SH   DFND 1,2 0 60,000 0