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
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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
Ashford Hospitality Trust, Inc. Common Stocks 044103109 249 62,300 SH   SOLE   62,300 0 0
Ashford Inc. Common Stocks 044104107 3,602 69,411 SH   SOLE   69,411 0 0
Alaska Air Group, Inc. Common Stocks 011659109 484 7,950 SH   SOLE   7,950 0 0
Amazon.com, Inc. Common Stocks 023135106 4,577 3,047 SH   SOLE   3,047 0 0
Activision Blizzard, Inc. Common Stocks 00507V109 2,974 63,864 SH   SOLE   63,864 0 0
Boeing Company Common Stocks 097023105 2,516 7,800 SH   SOLE   7,800 0 0
Alibaba Group Holding Ltd. Sponsored ADR Common Stocks 01609W102 2,337 17,053 SH   SOLE   17,053 0 0
Bank of America Corp Common Stocks 060505104 2,038 82,731 SH   SOLE   82,731 0 0
Berkshire Hathaway Inc. Class B Common Stocks 084670702 3,961 19,398 SH   SOLE   19,398 0 0
Blackstone Group L.P. Common Stocks 09253U108 2,961 99,341 SH   SOLE   99,341 0 0
Citigroup Inc. Common Stocks 172967424 1,406 27,000 SH   SOLE   27,000 0 0
Carlyle Group L.P. Common Stocks 14309L102 906 57,500 SH   SOLE   57,500 0 0
Colony Capital, Inc. Class A Common Stocks 19626G108 205 43,800 SH   SOLE   43,800 0 0
Diamond Offshore Drilling, Inc. Common Stocks 25271C102 1,666 176,501 SH   SOLE   176,501 0 0
Devon Energy Corporation Common Stocks 25179M103 225 10,000 SH   SOLE   10,000 0 0
Dril-Quip, Inc. Common Stocks 262037104 1,808 60,200 SH   SOLE   60,200 0 0
DowDuPont Inc. Common Stocks 26078J100 3,449 64,500 SH   SOLE   64,500 0 0
Electronic Arts Inc. Common Stocks 285512109 4,254 53,908 SH   SOLE   53,908 0 0
Eagle Bancorp Montana, Inc. Common Stocks 26942G100 5,298 321,090 SH   SOLE   321,090 0 0
Ensco plc Class A Common Stocks G3157S106 1,836 515,823 SH   SOLE   515,823 0 0
Facebook, Inc. Class A Common Stocks 30303M102 3,774 28,788 SH   SOLE   28,788 0 0
GDL Fund Miscellaneous Equities 361570104 631 68,845 SH   SOLE   68,845 0 0
VanEck Vectors Gold Miners ETF Miscellaneous Equities 92189F106 2,460 116,658 SH   SOLE   116,658 0 0
VanEck Vectors Gold Miners ETF Miscellaneous Equities 92189F106 1,265 60,000 SH Call SOLE   60,000 0 0
VanEck Vectors Junior Gold Miners ETF Miscellaneous Equities 92189F791 3,000 99,282 SH   SOLE   99,282 0 0
Great Elm Capital Group, Inc. Common Stocks 39036P209 710 210,207 SH   SOLE   210,207 0 0
Alphabet Inc. Class A Common Stocks 02079K305 5,082 4,863 SH   SOLE   4,863 0 0
iShares NASDAQ Biotechnology ETF Miscellaneous Equities 464287556 1,907 19,781 SH   SOLE   19,781 0 0
iShares Core MSCI Emerging Markets ETF Miscellaneous Equities 46434G103 895 18,986 SH   SOLE   18,986 0 0
JD.com, Inc. Sponsored ADR Class A Common Stocks 47215P106 1,465 70,000 SH   SOLE   70,000 0 0
JPMorgan Chase & Co. Common Stocks 46625H100 1,108 11,346 SH   SOLE   11,346 0 0
KKR & Co. Inc. Class A Common Stocks 48251W104 2,065 105,182 SH   SOLE   105,182 0 0
KraneShares CSI China Internet ETF Miscellaneous Equities 500767306 847 22,575 SH   SOLE   22,575 0 0
Lions Gate Entertainment Corp Class B Common Stocks 535919500 2,099 141,046 SH   SOLE   141,046 0 0
Lincoln National Corporation Common Stocks 534187109 257 5,000 SH   SOLE   5,000 0 0
Loral Space & Communications Inc. Common Stocks 543881106 1,895 50,865 SH   SOLE   50,865 0 0
McDermott International, Inc. Common Stocks 580037703 661 101,000 SH Call SOLE   101,000 0 0
NIKE, Inc. Class B Common Stocks 654106103 2,033 27,424 SH   SOLE   27,424 0 0
Och-Ziff Capital Management Group LLC Class A Common Stocks 67551U204 3,087 3,354,942 SH   SOLE   3,354,942 0 0
Invesco QQQ Trust Miscellaneous Equities 46090E103 3,726 24,152 SH   SOLE   24,152 0 0
Transocean Ltd. Common Stocks H8817H100 929 133,906 SH   SOLE   133,906 0 0
Schwab Emerging Markets Equity ETF Miscellaneous Equities 808524706 224 9,529 SH   SOLE   9,529 0 0
Schwab International Equity ETF Miscellaneous Equities 808524805 1,020 35,988 SH   SOLE   35,988 0 0
Schwab U.S. Large-Cap ETF Miscellaneous Equities 808524201 550 9,205 SH   SOLE   9,205 0 0
Take-Two Interactive Software, Inc. Common Stocks 874054109 2,326 22,600 SH   SOLE   22,600 0 0
Unisys Corporation Common Stocks 909214306 656 56,440 SH   SOLE   56,440 0 0
Vanguard Small-Cap ETF Miscellaneous Equities 922908751 204 1,549 SH   SOLE   1,549 0 0
Vanguard Short-Term Corporate Bond ETF Miscellaneous Equities 92206C409 3,204 41,114 SH   SOLE   41,114 0 0
Volt Information Sciences, Inc. Common Stocks 928703107 5,174 2,406,584 SH   SOLE   2,406,584 0 0
Vanguard Large-Cap ETF Miscellaneous Equities 922908637 1,917 16,686 SH   SOLE   16,686 0 0
Weyerhaeuser Company Common Stocks 962166104 219 10,000 SH   SOLE   10,000 0 0
SPDR S&P Oil & Gas Equipment & Services ETF Miscellaneous Equities 78464A748 269 29,870 SH   SOLE   29,870 0 0
SPDR S&P Homebuilders ETF Miscellaneous Equities 78464A888 217 6,671 SH   SOLE   6,671 0 0
Financial Select Sector SPDR Fund Miscellaneous Equities 81369Y605 332 13,937 SH   SOLE   13,937 0 0
Industrial Select Sector SPDR Fund Miscellaneous Equities 81369Y704 3,221 50,000 SH   SOLE   50,000 0 0
Technology Select Sector SPDR Fund Miscellaneous Equities 81369Y803 620 10,000 SH   SOLE   10,000 0 0
Consumer Discretionary Select Sector SPDR Fund Miscellaneous Equities 81369Y407 1,289 13,014 SH   SOLE   13,014 0 0