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
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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
Apple Inc. Common Stocks 037833100 1,079 5,681 SH   SOLE   5,681 0 0
Allergan plc Common Stocks G0177J108 2,138 14,600 SH   SOLE   14,600 0 0
Ashford Hospitality Trust, Inc. Common Stocks 044103109 238 50,000 SH   SOLE   50,000 0 0
Ashford Inc. Common Stocks 044104107 4,621 83,211 SH   SOLE   83,211 0 0
Alaska Air Group, Inc. Common Stocks 011659109 226 4,031 SH   SOLE   4,031 0 0
Amgen Inc. Common Stocks 031162100 309 1,626 SH   SOLE   1,626 0 0
Amazon.com, Inc. Common Stocks 023135106 3,091 1,736 SH   SOLE   1,736 0 0
Anadarko Petroleum Corporation Common Stocks 032511107 1,478 32,500 SH   SOLE   32,500 0 0
Antero Resources Corporation Common Stocks 03674X106 2,017 228,412 SH   SOLE   228,412 0 0
Activision Blizzard, Inc. Common Stocks 00507V109 1,553 34,100 SH   SOLE   34,100 0 0
Alibaba Group Holding Ltd. Sponsored ADR Common Stocks 01609W102 2,209 12,107 SH   SOLE   12,107 0 0
Baidu, Inc. Sponsored ADR Class A Common Stocks 056752108 957 5,804 SH   SOLE   5,804 0 0
Berkshire Hathaway Inc. Class B Common Stocks 084670702 3,111 15,485 SH   SOLE   15,485 0 0
Blackstone Group L.P. Common Stocks 09253U108 1,271 36,341 SH   SOLE   36,341 0 0
Citigroup Inc. Common Stocks 172967424 996 16,000 SH   SOLE   16,000 0 0
Cboe Global Markets Inc Common Stocks 12503M108 954 10,000 SH   SOLE   10,000 0 0
Carlyle Group L.P. Common Stocks 14309L102 777 42,500 SH   SOLE   42,500 0 0
Colony Capital, Inc. Class A Common Stocks 19626G108 228 42,800 SH   SOLE   42,800 0 0
Concho Resources Inc. Common Stocks 20605P101 277 2,500 SH   SOLE   2,500 0 0
Delta Air Lines, Inc. Common Stocks 247361702 1,550 30,000 SH   SOLE   30,000 0 0
Diamond Offshore Drilling, Inc. Common Stocks 25271C102 1,476 140,734 SH   SOLE   140,734 0 0
DowDuPont Inc. Common Stocks 26078J100 594 16,584 SH   SOLE   16,584 0 0
Eagle Bancorp Montana, Inc. Common Stocks 26942G100 2,846 167,981 SH   SOLE   167,981 0 0
EOG Resources, Inc. Common Stocks 26875P101 238 2,500 SH   SOLE   2,500 0 0
Ensco plc Class A Common Stocks G3157S106 1,665 423,690 SH   SOLE   423,690 0 0
Facebook, Inc. Class A Common Stocks 30303M102 3,045 18,270 SH   SOLE   18,270 0 0
Fiat Chrysler Automobiles N.V. Common Stocks N31738102 2,599 175,000 SH   SOLE   175,000 0 0
GDL Fund Miscellaneous Equities 361570104 273 28,590 SH   SOLE   28,590 0 0
VanEck Vectors Gold Miners ETF Miscellaneous Equities 92189F106 935 41,682 SH   SOLE   41,682 0 0
VanEck Vectors Gold Miners ETF Miscellaneous Equities 92189F106 1,345 60,000 SH Call SOLE   60,000 0 0
Great Elm Capital Group, Inc. Common Stocks 39036P209 827 194,538 SH   SOLE   194,538 0 0
Alphabet Inc. Class A Common Stocks 02079K305 2,827 2,402 SH   SOLE   2,402 0 0
iShares Core MSCI Emerging Markets ETF Miscellaneous Equities 46434G103 924 17,862 SH   SOLE   17,862 0 0
Jazz Pharmaceuticals Plc Common Stocks G50871105 1,072 7,500 SH   SOLE   7,500 0 0
JD.com, Inc. Sponsored ADR Class A Common Stocks 47215P106 1,550 51,404 SH   SOLE   51,404 0 0
KKR & Co. Inc. Class A Common Stocks 48251W104 2,840 120,921 SH   SOLE   120,921 0 0
KraneShares CSI China Internet ETF Miscellaneous Equities 500767306 4,278 90,831 SH   SOLE   90,831 0 0
Lazard Ltd Class A Common Stocks G54050102 1,337 37,000 SH   SOLE   37,000 0 0
Liberty Broadband Corp. Class C Common Stocks 530307305 1,651 18,000 SH   SOLE   18,000 0 0
Liberty Global Plc Class C Common Stocks G5480U120 2,042 84,359 SH   SOLE   84,359 0 0
Lions Gate Entertainment Corp Class B Common Stocks 535919500 1,878 124,400 SH   SOLE   124,400 0 0
Loral Space & Communications Inc. Common Stocks 543881106 1,834 50,865 SH   SOLE   50,865 0 0
Altria Group Inc Common Stocks 02209S103 1,149 20,000 SH   SOLE   20,000 0 0
Microsoft Corporation Common Stocks 594918104 1,007 8,541 SH   SOLE   8,541 0 0
Netflix, Inc. Common Stocks 64110L106 655 1,837 SH   SOLE   1,837 0 0
Och-Ziff Capital Management Group LLC Class A Common Stocks 67551U204 5,505 335,494 SH   SOLE   335,494 0 0
Pan American Silver Corp. Common Stocks 697900108 265 20,000 SH   SOLE   20,000 0 0
Global X U.S. Preferred ETF Miscellaneous Equities 37954Y657 239 9,944 SH   SOLE   9,944 0 0
Invesco QQQ Trust Miscellaneous Equities 46090E103 227 1,261 SH   SOLE   1,261 0 0
Transocean Ltd. Common Stocks H8817H100 108 12,450 SH   SOLE   12,450 0 0
Rollins, Inc. Common Stocks 775711104 832 20,000 SH   SOLE   20,000 0 0
Range Resources Corporation Common Stocks 75281A109 768 68,340 SH   SOLE   68,340 0 0
Ryanair Holdings Plc Sponsored ADR Common Stocks 783513203 974 13,000 SH   SOLE   13,000 0 0
Schwab Emerging Markets Equity ETF Miscellaneous Equities 808524706 321 12,329 SH   SOLE   12,329 0 0
Schwab International Equity ETF Miscellaneous Equities 808524805 1,172 37,432 SH   SOLE   37,432 0 0
Schwab U.S. Mid-Cap ETF Miscellaneous Equities 808524508 232 4,184 SH   SOLE   4,184 0 0
Schwab U.S. Large-Cap ETF Miscellaneous Equities 808524201 964 14,258 SH   SOLE   14,258 0 0
Sirius XM Holdings, Inc. Common Stocks 82968B103 1,701 300,000 SH   SOLE   300,000 0 0
Stars Group Inc. Common Stocks 85570W100 2,344 133,878 SH   SOLE   133,878 0 0
Take-Two Interactive Software, Inc. Common Stocks 874054109 1,802 19,100 SH   SOLE   19,100 0 0
Unisys Corporation Common Stocks 909214306 918 78,700 SH   SOLE   78,700 0 0
Vanguard Small-Cap ETF Miscellaneous Equities 922908751 235 1,538 SH   SOLE   1,538 0 0
Vanguard Short-Term Corporate Bond ETF Miscellaneous Equities 92206C409 3,664 45,944 SH   SOLE   45,944 0 0
Volt Information Sciences, Inc. Common Stocks 928703107 11,311 2,406,584 SH   SOLE   2,406,584 0 0
Viper Energy Partners LP Common Stocks 92763M105 945 28,500 SH   SOLE   28,500 0 0
Vanguard Mid-Cap ETF Miscellaneous Equities 922908629 200 1,246 SH   SOLE   1,246 0 0
Vodafone Group Plc Sponsored ADR Common Stocks 92857W308 1,818 100,000 SH   SOLE   100,000 0 0
Vanguard Large-Cap ETF Miscellaneous Equities 922908637 2,083 16,044 SH   SOLE   16,044 0 0
SPDR S&P Oil & Gas Equipment & Services ETF Miscellaneous Equities 78464A748 343 29,697 SH   SOLE   29,697 0 0
SPDR S&P Homebuilders ETF Miscellaneous Equities 78464A888 276 7,168 SH   SOLE   7,168 0 0
Financial Select Sector SPDR Fund Miscellaneous Equities 81369Y605 336 13,051 SH   SOLE   13,051 0 0