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
AGNICO EAGLE MINES LTD COM 008474108 630 10,240 SH   SOLE   10,240 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 960 159,125 SH   SOLE   138,080 0 21,045
ALLIED HEALTHCARE PRODS INC COM NEW 019222207 208 171,822 SH   SOLE   171,822 0 0
AMERISERV FINL INC COM 03074A102 800 190,642 SH   SOLE   190,642 0 0
AMREP CORP NEW COM 032159105 442 74,073 SH   SOLE   74,073 0 0
BUILD A BEAR WORKSHOP COM 120076104 911 281,287 SH   SOLE   281,287 0 0
1895 BANCORP OF WIS INC COM 28252W105 170 15,790 SH   SOLE   15,790 0 0
POPULAR INC COM NEW 733174700 992 16,900 SH   SOLE   16,900 0 0
BRT APARTMENTS CORP COM 055645303 7,074 416,907 SH   SOLE   270,257 0 146,650
CBM BANCORP INC COM 1248XT104 1,205 85,354 SH   SOLE   85,354 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 978 66,745 SH   SOLE   16,120 0 50,625
SEACOR HOLDINGS INC COM 811904101 5,663 131,259 SH   SOLE   38,873 0 92,386
CISCO SYS INC COM 17275R102 5,598 116,739 SH   SOLE   37,855 0 78,884
EAGLE BANCORP MONT INC COM 26942G100 1,934 90,426 SH   SOLE   90,426 0 0
EMX RTY CORP COM 26873J107 467 282,418 SH   SOLE   282,418 0 0
ENTEGRA FINL CORP COM 29363J108 2,109 69,953 SH   SOLE   69,953 0 0
ENGLOBAL CORP COM 293306106 960 979,627 SH   SOLE   979,627 0 0
ESSA BANCORP INC COM 29667D104 2,027 119,600 SH   SOLE   119,600 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,530 84,412 SH   SOLE   84,412 0 0
FRP HLDGS INC COM 30292L107 1,186 23,822 SH   SOLE   23,822 0 0
FSB BANCORP INC COM 30289C102 576 33,195 SH   SOLE   33,195 0 0
FIRST SEACOAST BANCORP COM 33631P102 311 33,015 SH   SOLE   33,015 0 0
VANECK VECTORS ETF TRUST GOLD MINERS ETF 92189F106 972 33,220 SH   SOLE   0 0 33,220
SPDR GOLD TRUST GOLD SHS 78463V107 8,708 60,940 SH   SOLE   33,742 0 27,198
CORNING INC COM 219350105 5,600 192,400 SH   SOLE   56,895 0 135,505
HOME FED BANCORP INC LA NEW COM 43708L108 1,370 38,329 SH   SOLE   38,329 0 0
HECLA MNG CO COM 422704106 1,868 551,300 SH   SOLE   504,700 0 46,600
HELMERICH & PAYNE INC COM 423452101 4,118 90,648 SH   SOLE   24,805 0 65,843
HOMETRUST BANCSHARES INC COM 437872104 5,973 222,626 SH   SOLE   162,270 0 60,356
IF BANCORP INC COM 44951J105 1,110 48,250 SH   SOLE   48,250 0 0
JEFFERIES FINL GROUP INC COM 47233W109 2,271 106,300 SH   SOLE   106,300 0 0
KINROSS GOLD CORP COM 496902404 1,079 227,785 SH   SOLE   203,420 0 24,365
DORIAN LPG LTD SHS USD Y2106R110 11,117 718,214 SH   SOLE   404,828 0 313,386
MCEWEN MNG INC COM 58039P107 617 486,070 SH   SOLE   47,980 0 438,090
NEWMONT GOLDCORP CORPORATION COM 651639106 821 18,897 SH   SOLE   18,897 0 0
NEW GOLD INC CDA COM 644535106 62 71,000 SH   SOLE   71,000 0 0
PAN AMERICAN SILVER CORP COM 697900108 2,128 89,852 SH   SOLE   82,561 0 7,291
PATHFINDER BANCORP INC MD COM 70319R109 997 71,750 SH   SOLE   71,750 0 0
PICO HLDGS INC COM NEW 693366205 257 23,200 SH   SOLE   23,200 0 0
RICHMOND MUT BANCORPORATIN I COM 76525P100 638 40,000 SH   SOLE   40,000 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 1,174 157,600 SH   SOLE   143,600 0 14,000
SOUND FINL BANCORP INC COM 83607A100 1,710 47,518 SH   SOLE   47,518 0 0
SILVERCREST METALS INC COM 828363101 1,426 210,945 SH   SOLE   191,565 0 19,380
SEACOR MARINE HLDGS INC COM 78413P101 4,639 336,446 SH   SOLE   108,937 0 227,509
WESTPORT FUEL SYSTEMS INC COM NEW 960908309 35 15,000 SH   SOLE   15,000 0 0