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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Abbott Laboratories COM 002824100 126 1,500 SH   SOLE   1,500 0 0
AbbVie Inc COM 00287y109 114 1,500 SH   SOLE   1,500 0 0
Actuant Corp Cl A COM 00508x203 8,772 399,815 SH   SOLE   399,815 0 0
Actuant Corp Cl A COM 00508x203 4,017 183,100 SH   DFND   0 0 183,100
Acuity Brands Inc COM 00508y102 8,279 61,420 SH   SOLE   61,420 0 0
AGNC Investment Corp PFD 00123q500 1,090 42,300 SH   SOLE   42,300 0 0
ALJ Regional Holdings Inc COM 001627108 732 526,800 SH   SOLE   526,800 0 0
Alleghany Corp COM 017175100 10,230 12,823 SH   SOLE   12,823 0 0
A-Mark Precious Metals Inc COM 00181T107 586 48,600 SH   SOLE   48,600 0 0
American Vanguard Corp COM 030371108 9,852 627,505 SH   SOLE   627,505 0 0
American Vanguard Corp COM 030371108 4,166 265,330 SH   DFND   0 0 265,330
Apex Global Brands Inc COM 03755M201 1,659 1,141,967 SH   SOLE   1,141,967 0 0
Apex Global Brands Inc COM 03755M201 180 122,593 SH   DFND   0 0 122,593
Avanos Medical, Inc COM 05350v106 1,813 48,398 SH   SOLE   48,398 0 0
Avanos Medical, Inc COM 05350v106 392 10,454 SH   DFND   0 0 10,454
Avid Technology Inc COM 05367p100 9,469 1,529,723 SH   SOLE   1,529,723 0 0
Avid Technology Inc COM 05367p100 3,508 566,729 SH   DFND   0 0 566,729
Axalta Coating Systems Ltd COM g0750c108 10,268 340,578 SH   SOLE   340,578 0 0
Big 5 Sporting Goods Corp COM 08915P101 624 300,000 SH   SOLE   300,000 0 0
Capital Senior Living Corp COM 140475104 11,530 2,632,309 SH   SOLE   2,632,309 0 0
Capital Senior Living Corp COM 140475104 4,571 1,043,700 SH   DFND   0 0 1,043,700
Carbon Energy Corporation COM 14110q100 1,069 267,330 SH   SOLE   267,330 0 0
Carrols Restaurant Group Inc COM 14574x104 4,892 590,145 SH   SOLE   590,145 0 0
Carrols Restaurant Group Inc COM 14574x104 1,828 220,555 SH   DFND   0 0 220,555
Cars.com Inc COM 14575e105 449 50,000 SH   SOLE   50,000 0 0
CenturyLink Inc COM 156700106 8,834 707,875 SH   SOLE   707,875 0 0
CenturyLink Inc COM 156700106 1,747 140,000 SH   DFND   0 0 140,000
Chevron Corp COM 166764100 119 1,000 SH   SOLE   1,000 0 0
Clean Harbors Inc COM 184496107 1,247 16,158 SH   SOLE   16,158 0 0
Colfax Corp COM 194014106 26,586 914,870 SH   SOLE   914,870 0 0
Colfax Corp COM 194014106 9,378 322,700 SH   DFND   0 0 322,700
CommVault Systems Inc COM 204166102 9,890 221,200 SH   SOLE   221,200 0 0
CommVault Systems Inc COM 204166102 3,344 74,800 SH   DFND   0 0 74,800
Compass Minerals International COM 20451n101 31,355 555,053 SH   SOLE   555,053 0 0
Compass Minerals International COM 20451n101 9,191 162,700 SH   DFND   0 0 162,700
Computer Task Group Inc COM 205477102 167 33,400 SH   SOLE   33,400 0 0
Contango ORE Inc COM 21077f100 160 11,427 SH   SOLE   11,427 0 0
CSW Industrials Inc COM 126402106 6,599 95,594 SH   SOLE   95,594 0 0
CSW Industrials Inc COM 126402106 3,079 44,600 SH   DFND   0 0 44,600
DLH Holdings Corp COM 23335q100 671 150,497 SH   SOLE   150,497 0 0
E.W. Scripps Company COM 811054402 25,059 1,887,009 SH   SOLE   1,887,009 0 0
E.W. Scripps Company COM 811054402 7,821 588,900 SH   DFND   0 0 588,900
Equity Commonwealth COM 294628102 10,013 292,340 SH   SOLE   292,340 0 0
Equity Commonwealth COM 294628102 4,761 139,000 SH   DFND   0 0 139,000
Evoqua Water Technologies Corp COM 30057t105 851 50,000 SH   SOLE   50,000 0 0
FMC Corp COM 302491303 5,800 66,145 SH   SOLE   66,145 0 0
FRMO Corp COM 30262f205 505 73,400 SH   SOLE   73,400 0 0
FRP Holdings Inc COM 30292l107 451 9,393 SH   SOLE   9,393 0 0
GCP Applied Technologies Inc COM 36164Y101 5,388 279,900 SH   SOLE   279,900 0 0
GCP Applied Technologies Inc COM 36164Y101 2,822 146,600 SH   DFND   0 0 146,600
General Electric Company COM 369604103 2,705 302,525 SH   SOLE   302,525 0 0
Global Indemnity Limited COM G3933F105 684 27,400 SH   SOLE   27,400 0 0
GP Strategies Corp COM 36225v104 22,575 1,758,144 SH   SOLE   1,758,144 0 0
GP Strategies Corp COM 36225v104 7,633 594,435 SH   DFND   0 0 594,435
Great Elm Capital Corp COM 390320109 81 9,900 SH   SOLE   9,900 0 0
Great Elm Capital Group Inc COM 39036p209 6,384 1,739,398 SH   SOLE   1,739,398 0 0
Hallador Energy Company COM 40609P105 733 202,500 SH   SOLE   202,500 0 0
Hallmark Financial Services Inc COM 40624q203 14,824 774,911 SH   SOLE   774,911 0 0
Hallmark Financial Services Inc COM 40624q203 6,001 313,670 SH   DFND   0 0 313,670
Henry Schein Inc COM 806407102 7,138 112,413 SH   SOLE   112,413 0 0
Heritage-Crystal Clean Inc COM 42726m106 19,597 739,493 SH   SOLE   739,493 0 0
Heritage-Crystal Clean Inc COM 42726m106 6,660 251,338 SH   DFND   0 0 251,338
Inspired Entertainment Inc COM 45782n108 575 80,000 SH   SOLE   80,000 0 0
INTL FCStone Inc COM 46116v105 14,842 361,461 SH   SOLE   361,461 0 0
INTL FCStone Inc COM 46116v105 5,464 133,065 SH   DFND   0 0 133,065
Issuer Direct Corporation COM 46520m204 1,219 117,888 SH   SOLE   117,888 0 0
Ituran Location and Control Ltd COM m6158m104 1,363 55,000 SH   SOLE   55,000 0 0
JPMorgan Chase & Company COM 46625h100 6,290 53,448 SH   SOLE   53,448 0 0
Liberty Formula One A COM 531229870 28 700 SH   SOLE   700 0 0
Liberty Global Plc A COM g5480u104 3,062 123,725 SH   SOLE   123,725 0 0
Liberty SiriusXM Group A COM 531229409 10,615 255,358 SH   SOLE   255,358 0 0
LogMeIn Inc COM 54142L109 14,121 199,000 SH   SOLE   199,000 0 0
LogMeIn Inc COM 54142L109 4,116 58,000 SH   DFND   0 0 58,000
LSI Industries Inc COM 50216C108 1,305 250,000 SH   SOLE   250,000 0 0
Macquarie Infrastructure Corp COM 55608b105 10,830 274,380 SH   SOLE   274,380 0 0
Macquarie Infrastructure Corp COM 55608b105 4,543 115,100 SH   DFND   0 0 115,100
Mattel Inc COM 577081102 3,071 269,600 SH   SOLE   269,600 0 0
Millicom International Cellular COM l6388f110 31,092 638,825 SH   SOLE   638,825 0 0
Millicom International Cellular COM l6388f110 8,375 172,074 SH   DFND   0 0 172,074
MSC Industrial Direct Co Inc COM 553530106 1,165 16,066 SH   SOLE   16,066 0 0
Mueller Water Products Inc A COM 624758108 5,838 519,401 SH   SOLE   519,401 0 0
Mueller Water Products Inc A COM 624758108 2,361 210,055 SH   DFND   0 0 210,055
Northern Technologies International COM 665809109 1,738 141,667 SH   SOLE   141,667 0 0
NOW Inc COM 67011p100 7,936 691,885 SH   SOLE   691,885 0 0
NOW Inc COM 67011p100 3,584 312,500 SH   DFND   0 0 312,500
Par Pacific Holdings Inc COM 69888T207 800 35,000 SH   SOLE   35,000 0 0
Park Aerospace Corp COM 70014A104 878 50,000 SH   SOLE   50,000 0 0
Patriot Transportation Holding COM 70338w105 606 33,882 SH   SOLE   33,882 0 0
Patterson Companies Inc COM 703395103 11,440 641,978 SH   SOLE   641,978 0 0
Patterson Companies Inc COM 703395103 5,175 290,400 SH   DFND   0 0 290,400
Phibro Animal Health Corp A COM 71742q106 8,955 419,831 SH   SOLE   419,831 0 0
Phibro Animal Health Corp A COM 71742q106 3,546 166,225 SH   DFND   0 0 166,225
Qurate Retail Inc COM 74915m100 3,426 332,145 SH   SOLE   332,145 0 0
Reading International Inc COM 755408101 598 50,000 SH   SOLE   50,000 0 0
Seacor Holdings Inc COM 811904101 471 10,000 SH   SOLE   10,000 0 0
SEACOR Marine Holdings Inc COM 78413P101 799 63,533 SH   SOLE   63,533 0 0
Sensata Technologies Holding COM G8060N102 1,174 23,448 SH   SOLE   23,448 0 0
SIFCO Industries Inc COM 826546103 656 242,000 SH   SOLE   242,000 0 0
Sirius XM Holdings Inc COM 82968b103 1,148 183,520 SH   SOLE   183,520 0 0
Southern Natl Bancorp Of VA Inc COM 843395104 769 50,000 SH   SOLE   50,000 0 0
Spectrum Brands Holdings Inc COM 84790a105 13,041 247,371 SH   SOLE   247,371 0 0
Spectrum Brands Holdings Inc COM 84790a105 4,278 81,151 SH   DFND   0 0 81,151
Standex International Corp COM 854231107 8,053 110,402 SH   SOLE   110,402 0 0
Standex International Corp COM 854231107 3,924 53,800 SH   DFND   0 0 53,800
Star Group L.P. COM 85512c105 1,079 113,900 SH   SOLE   113,900 0 0
Tapestry Inc COM 876030107 5,582 214,269 SH   SOLE   214,269 0 0
TE Connectivity Ltd COM h84989104 3,294 35,350 SH   SOLE   35,350 0 0
TEGNA Inc COM 87901j105 13,735 884,408 SH   SOLE   884,408 0 0
TEGNA Inc COM 87901j105 4,355 280,400 SH   DFND   0 0 280,400
The Bank of New York Mellon Co COM 064058100 4,002 88,515 SH   SOLE   88,515 0 0
The Monarch Cement Company COM 609031307 1,346 21,882 SH   SOLE   21,882 0 0
Transcat Inc COM 893529107 1,024 40,000 SH   SOLE   40,000 0 0
Trinity Place Holdings Inc COM 89656d101 400 100,000 SH   SOLE   100,000 0 0
UFP Technologies Inc COM 902673102 15,595 404,027 SH   SOLE   404,027 0 0
UFP Technologies Inc COM 902673102 5,879 152,300 SH   DFND   0 0 152,300
United States Lime & Mineral COM 911922102 1,193 15,592 SH   SOLE   15,592 0 0
Verso Corp COM 92531l207 309 25,000 SH   SOLE   25,000 0 0
Viacom Inc New CL B COM 92553p201 6,133 255,226 SH   SOLE   255,226 0 0
ViaSat Inc COM 92552v100 26,542 352,393 SH   SOLE   352,393 0 0
ViaSat Inc COM 92552v100 8,104 107,600 SH   DFND   0 0 107,600
Viemed Healthcare, Inc COM 92663r105 623 90,000 SH   SOLE   90,000 0 0
Wells Fargo & Company FPP PFD 949746804 857 565 SH   SOLE   565 0 0
Wesco Aircraft Holdings Inc COM 950814103 9,037 820,825 SH   SOLE   820,825 0 0
Wesco Aircraft Holdings Inc COM 950814103 4,547 413,017 SH   DFND   0 0 413,017
White Mountains Insurance Group COM g9618e107 90 83 SH   SOLE   83 0 0
Williams-Sonoma Inc COM 969904101 956 14,066 SH   SOLE   14,066 0 0
Yelp Inc COM 985817105 11,770 338,700 SH   SOLE   338,700 0 0
Yelp Inc COM 985817105 4,360 125,464 SH   DFND   0 0 125,464