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
ALLIED HEALTHCARE PRODS INC COM 019222108 206 343,644 SH   SOLE   343,644 0 0
AMREP CORP NEW COM 032159105 241 49,032 SH   SOLE   49,032 0 0
BENEFICIAL BANCORP INC COM 08171T102 2,660 209,164 SH   SOLE   209,164 0 0
BRT RLTY TR SH BEN INT NEW 055645303 1,338 187,192 SH   SOLE   187,192 0 0
CENTRAL FD CDA LTD CL A 153501101 2,109 151,950 SH   SOLE   23,680 0 128,270
SEACOR HOLDINGS INC COM 811904101 9,508 164,084 SH   SOLE   36,540 0 127,544
CISCO SYS INC COM 17275R102 6,781 236,356 SH   SOLE   57,320 0 179,036
COMMERCE UN BANCSHARES INC COM 200828101 1,579 103,474 SH   SOLE   103,474 0 0
EAGLE BANCORP MONT INC COM 26942G100 1,426 112,250 SH   SOLE   112,250 0 0
ENTEGRA FINL CORP COM 29363J108 838 47,921 SH   SOLE   47,921 0 0
ENGLOBAL CORP COM 293306106 1,141 951,627 SH   SOLE   951,627 0 0
ESSA BANCORP INC COM 29667D104 1,602 119,600 SH   SOLE   119,600 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,333 104,706 SH   SOLE   104,706 0 0
FRIEDMAN INDS INC COM 358435105 823 141,282 SH   SOLE   141,282 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 2,209 79,720 SH   SOLE   31,630 0 48,090
GRAHAM CORP COM 384556106 1,361 73,938 SH   SOLE   73,938 0 0
CORNING INC COM 219350105 7,314 357,147 SH   SOLE   98,445 0 258,702
GEORGETOWN BANCORP INC MD COM 372591107 732 36,068 SH   SOLE   36,068 0 0
HARDINGE INC COM 412324303 831 82,700 SH   SOLE   82,700 0 0
HOPFED BANCORP INC COM 439734104 1,725 148,888 SH   SOLE   148,888 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 1,275 59,465 SH   SOLE   59,465 0 0
HELMERICH & PAYNE INC COM 423452101 6,582 98,050 SH   SOLE   28,903 0 69,147
HOMETRUST BANCSHARES INC COM 437872104 5,693 307,750 SH   SOLE   162,270 0 145,480
HURCO COMPANIES INC COM 447324104 1,319 47,412 SH   SOLE   47,412 0 0
INSTEEL INDUSTRIES INC COM 45774W108 3,934 137,631 SH   SOLE   137,631 0 0
IF BANCORP INC COM 44951J105 1,274 69,519 SH   SOLE   69,519 0 0
KEARNY FINL CORP MD COM 48716P108 2,034 161,700 SH   SOLE   161,700 0 0
DORIAN LPG LTD SHS USD Y2106R110 6,430 912,117 SH   SOLE   346,381 0 565,736
MALVERN BANCORP INC COM 561409103 1,527 97,926 SH   SOLE   97,926 0 0
3M CO COM 88579Y101 2,692 15,373 SH   SOLE   971 0 14,402
MCEWEN MNG INC COM 58039P107 2,034 528,500 SH   SOLE   498,500 0 30,000
NUCOR CORP COM 670346105 1,057 21,400 SH   SOLE   21,400 0 0
OCEAN SHORE HLDG CO NEW COM 67501R103 2,940 173,363 SH   SOLE   173,363 0 0
PATHFINDER BANCORP INC MD COM 70319R109 693 61,550 SH   SOLE   61,550 0 0
PROVIDENCE & WORCESTER RR CO COM 743737108 1,527 93,695 SH   SOLE   93,695 0 0
SOUND FINL BANCORP INC COM 83607A100 1,755 73,318 SH   SOLE   73,318 0 0
SI FINL GROUP INC MD COM 78425V104 1,408 106,392 SH   SOLE   106,392 0 0
SPARTAN MTRS INC COM 846819100 833 133,208 SH   SOLE   133,208 0 0
WILLBROS GROUP INC DEL COM 969203108 37 15,000 SH   SOLE   15,000 0 0
WESTPORT FUEL SYSTEMS INC COM NEW 960908309 20 12,377 SH   SOLE   12,377 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 15,517 122,700 SH   SOLE   91,326 0 31,374