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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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Abbvie Inc. COM 00287Y109   277,904 1,793 SH   DFND   0 1,793 0
Accenture PLC COM G1151C101   397,230 1,132 SH   DFND   0 1,132 0
Adobe Systems Inc. COM 00724F101   303,073 508 SH   DFND   0 508 0
AerSale Corp. COM 00810F106   18,424,749 1,451,339 SH   DFND   794,858 656,481 0
Alphabet Inc. Cl A COM 02079K305   4,759,378 34,071 SH   DFND   4,000 30,071 0
Alphabet Inc. Cl C COM 02079K107   3,582,863 25,423 SH   DFND   0 25,423 0
Amazon.com COM 023135106   1,127,395 7,420 SH   DFND   0 7,420 0
American Electric Power COM 025537101   694,431 8,550 SH   DFND   8,200 350 0
Apple, Inc. COM 037833100   3,167,034 16,450 SH   DFND   1,200 15,250 0
Asure Software Inc. COM 04649U102   37,356,737 3,924,027 SH   DFND   1,466,940 2,457,087 0
Automatic Data Processing Inc. COM 053015103   365,530 1,569 SH   DFND   1,000 569 0
Bank of America Corp. COM 060505104   331,510 9,846 SH   DFND   0 9,846 0
Barrett Business Services COM 068463108   40,073,528 346,058 SH   DFND   140,015 206,043 0
Berkshire Hathaway Inc. Cl B COM 084670702   376,990 1,057 SH   DFND   0 1,057 0
BGC Group Inc COM 088929104   20,082,250 2,781,475 SH   DFND   839,305 1,942,170 0
Blackrock Inc. COM 09247X101   271,742 335 SH   DFND   0 335 0
Blackstone Real Estate Income Trust Inc CL COM 09259K401   1,551,180 108,262 SH   DFND   0 108,262 0
Broadcom Inc. COM 11135F101   219,531 197 SH   DFND   0 197 0
Campbell Soup Co. COM 134429109   626,835 14,500 SH   DFND   14,500 0 0
CapStar Financial Holdings, Inc. COM 14070T102   11,320,013 604,056 SH   DFND   193,393 410,663 0
CF Industries Holdings Inc. COM 125269100   479,776 6,035 SH   DFND   5,800 235 0
Chevron Corporation COM 166764100   2,684,735 17,999 SH   DFND   0 17,999 0
Clorox Co. COM 189054109   1,800,769 12,629 SH   DFND   10,500 2,129 0
Consolidated Edison Inc. COM 209115104   241,398 2,654 SH   DFND   0 2,654 0
Costco Wholesale Corporation COM 22160K105   241,940 367 SH   DFND   0 367 0
CRA International COM 12618T105   4,926,783 49,841 SH   DFND   9,407 40,434 0
Direxion Financial Bull 3X Shs COM 25459Y694   826,500 10,000 SH   DFND   10,000 0 0
Direxion NASDAQ-100 Equal Weighted ETF COM 25459Y207   301,423 3,561 SH   DFND   0 3,561 0
Dow Jones Indl Average SPDR ETF COM 78467X109   452,244 1,200 SH   DFND   200 1,000 0
Duke Energy Corp. COM 26441C204   1,023,946 10,552 SH   DFND   7,200 3,352 0
ECN Capital Corporation COM 26829L107   43,133,082 18,857,641 SH   DFND   8,122,115 10,735,526 0
Energy Select Sector SPDR COM 81369Y506   1,602,134 19,109 SH   DFND   11,500 7,609 0
Everi Holdings, Inc. COM 30034T103   26,250,546 2,329,241 SH   DFND   677,835 1,651,406 0
Everquote Inc Com Cl A COM 30041R108   2,480,632 202,666 SH   DFND   156,967 45,699 0
Exxon Mobil Corp. COM 30231G102   222,974 2,230 SH   DFND   0 2,230 0
Fidelity National Information Svcs Inc. COM 31620M106   570,665 9,500 SH   DFND   9,500 0 0
Financials Select Sector SPDR COM 81369Y605   513,457 13,656 SH   DFND   0 13,656 0
First Busey Corp. COM 319383204   10,145,619 408,768 SH   DFND   107,188 301,580 0
First Northwest Bancorp COM 335834107   12,686,663 795,901 SH   DFND   237,891 558,010 0
FirstEnergy Corp. COM 337932107   549,900 15,000 SH   DFND   15,000 0 0
Harrow Inc. COM 415858109   31,298,366 2,794,497 SH   DFND   1,247,781 1,546,716 0
Healthcare Select Sector SPDR COM 81369Y209   629,679 4,617 SH   DFND   0 4,617 0
Home Depot Inc. COM 437076102   1,082,521 3,124 SH   DFND   0 3,124 0
Honeywell International Inc. COM 438516106   439,579 2,096 SH   DFND   0 2,096 0
IBEX LTD COM G4690M101   920,008 48,396 SH   DFND   12,987 35,409 0
Imax Corporation COM 45245E109   17,809,439 1,185,715 SH   DFND   419,065 766,650 0
Information Services Group COM 45675Y104   23,603,293 5,011,315 SH   DFND   1,543,818 3,467,497 0
International Business Machines Corp. COM 459200101   2,091,971 12,791 SH   DFND   0 12,791 0
Invesco QQQ Trust Series 1 COM 46090E103   854,059 2,086 SH   DFND   125 1,961 0
Invesco S&P 100 Equal Weight ETF COM 46137V449   783,484 8,948 SH   DFND   0 8,948 0
iShares Core MSCI Emerging Markets COM 46434G103   334,127 6,606 SH   DFND   0 6,606 0
iShares Core MSCI Total Int'l Stock ETF COM 46432F834   261,757 4,031 SH   DFND   0 4,031 0
iShares Core S&P 500 COM 464287200   1,916,933 4,013 SH   DFND   0 4,013 0
iShares Core S&P Mid Cap ETF COM 464287507   2,236,063 8,068 SH   DFND   0 8,068 0
iShares Core S&P Small Cap ETF COM 464287804   242,903 2,244 SH   DFND   0 2,244 0
iShares Core US Aggregate Bond ETF COM 464287226   1,227,417 12,367 SH   DFND   0 12,367 0
iShares Russell 2000 Index ETF COM 464287655   416,875 2,077 SH   DFND   800 1,277 0
iShares Silver Trust COM 46428Q109   653,400 30,000 SH   DFND   30,000 0 0
Jefferies Financial Group Inc. COM 47233W109   38,184,402 944,925 SH   DFND   376,890 568,035 0
Johnson & Johnson COM 478160104   397,412 2,535 SH   DFND   0 2,535 0
JP Morgan Chase & Co. COM 46625H100   20,340,971 119,582 SH   DFND   3,600 115,982 0
JP Morgan Chase Alerian MLP Index ETN COM 46625H365   210,327 8,294 SH   DFND   0 8,294 0
Keurig Dr Pepper Inc COM 49271V100   683,060 20,500 SH   DFND   20,500 0 0
KKR & Co. Inc. Cl A COM 48251W104   50,265,639 606,707 SH   DFND   195,080 411,627 0
Kroger Co. COM 501044101   298,724 6,535 SH   DFND   6,500 35 0
Lakeland Industries Inc. COM 511795106   22,796,432 1,229,581 SH   DFND   471,407 758,174 0
Lantheus Holdings Inc. COM 516544103   34,519,802 556,771 SH   DFND   204,343 352,428 0
Lockheed Martin Corp. COM 539830109   443,828 979 SH   DFND   0 979 0
Mastercard Incorporated COM 57636Q104   1,463,283 3,431 SH   DFND   0 3,431 0
McCormick & Company Inc. COM 579780206   304,058 4,444 SH   DFND   4,000 444 0
Meta Platforms, Inc. COM 30303M102   788,623 2,228 SH   DFND   0 2,228 0
Microsoft Corp COM 594918104   2,802,168 7,452 SH   DFND   1,900 5,552 0
Mosaic Company COM 61945C103   535,950 15,000 SH   DFND   15,000 0 0
Motorcar Parts of America, Inc. COM 620071100   24,898,152 2,665,755 SH   DFND   1,222,933 1,442,822 0
National Fuel Gas Co. COM 636180101   988,349 19,700 SH   DFND   15,000 4,700 0
New York Community Bancorp Inc. COM 649445103   155,984 15,248 SH   DFND   0 15,248 0
NextEra Energy Inc. COM 65339F101   533,090 8,777 SH   DFND   0 8,777 0
Northern Trust Corporation COM 665859104   204,721 2,426 SH   DFND   0 2,426 0
Nvidia Corporation COM 67066G104   388,981 785 SH   DFND   0 785 0
Palantir Technologies Inc. COM 69608A108   1,017,679 59,271 SH   DFND   0 59,271 0
Paypal Holdings Inc. COM 70450Y103   2,001,966 32,600 SH   DFND   32,600 0 0
Peabody Energy Corp COM 704551100   680,960 28,000 SH   DFND   28,000 0 0
Pepsico, Inc. COM 713448108   853,914 5,028 SH   DFND   3,200 1,828 0
Perion Network Ltd. COM M78673114   45,842,166 1,485,007 SH   DFND   563,440 921,567 0
Pfizer, Inc. COM 717081103   1,098,124 38,143 SH   DFND   37,500 643 0
Phillips 66 COM 718546104   1,021,183 7,670 SH   DFND   6,900 770 0
Pilgrims Pride Corp. COM 72147K108   470,220 17,000 SH   DFND   17,000 0 0
PowerFleet, Inc. COM 73931J109   19,761,406 5,778,189 SH   DFND   2,845,587 2,932,602 0
Procter & Gamble Co. COM 742718109   240,901 1,644 SH   DFND   0 1,644 0
ProShares S&P 500 Dividend Aristocrats COM 74348A467   4,426,340 46,495 SH   DFND   7,000 39,495 0
Qualcomm, Inc. COM 747525103   767,255 5,305 SH   DFND   5,000 305 0
Quest Diagnostics, Inc. COM 74834L100   854,856 6,200 SH   DFND   4,000 2,200 0
QuinStreet, Inc. COM 74874Q100   57,730,498 4,503,159 SH   DFND   1,696,533 2,806,626 0
Range Resources COM 75281A109   563,140 18,500 SH   DFND   18,500 0 0
Raymond James Financial, Inc. COM 754730109   7,405,719 66,419 SH   DFND   0 66,419 0
RealReal Inc. COM 88339P101   48,240 24,000 SH   DFND   24,000 0 0
Russell 3000 Index I Shares COM 464287689   238,701 872 SH   DFND   0 872 0
Schwab International Equity ETF COM 808524805   1,435,099 38,828 SH   DFND   0 38,828 0
Schwab Strategic Tr Emerging Mkts Eqty ETF COM 808524706   214,893 8,669 SH   DFND   0 8,669 0
Shell PLC Spon ADS COM 780259305   593,794 9,024 SH   DFND   9,000 24 0
Shore Bancshares Inc COM 825107105   3,544,574 248,742 SH   DFND   56,090 192,652 0
SmartFinancial Inc. COM 83190L208   14,282,560 583,200 SH   DFND   182,470 400,730 0
Southern Co. COM 842587107   2,494,997 35,582 SH   DFND   35,500 82 0
Standard & Poor's Depositary Receipts COM 78462F103   4,502,136 9,472 SH   DFND   6,500 2,972 0
Stoneridge, Inc. COM 86183P102   5,540,424 283,108 SH   DFND   90,469 192,639 0
StoneX Group Inc. COM 861896108   41,017,881 555,572 SH   DFND   201,787 353,785 0
Synovus Financial Corp. COM 87161C501   12,955,388 344,101 SH   DFND   60,826 283,275 0
Target Hospitality Corp. COM 87615L107   54,269,707 5,577,565 SH   DFND   1,946,344 3,631,221 0
Technology Sector SPDR COM 81369Y803   250,224 1,300 SH   DFND   0 1,300 0
Thermo Fisher Scientific Inc. COM 883556102   740,983 1,396 SH   DFND   0 1,396 0
Total Energies SE COM 89151E109   691,588 10,264 SH   DFND   10,200 64 0
Tractor Supply Co. COM 892356106   967,635 4,500 SH   DFND   3,200 1,300 0
Tronox Holdings PLC COM G9087Q102   17,178,744 1,213,188 SH   DFND   378,310 834,878 0
UnitedHealth Group COM 91324P102   298,850 568 SH   DFND   0 568 0
Utilities Select Sector SPDR COM 81369Y886   1,551,596 24,500 SH   DFND   8,100 16,400 0
Vanguard Dividend Appreciation Indx ETF COM 921908844   3,940,265 23,124 SH   DFND   5,400 17,724 0
Vanguard FTSE All World Ex US ETF COM 922042775   599,373 10,676 SH   DFND   0 10,676 0
Vanguard Growth Indx Fd ETF COM 922908736   211,709 681 SH   DFND   0 681 0
Vanguard High Dividend Yield Index Fd ETF COM 921946406   349,217 3,128 SH   DFND   0 3,128 0
Vanguard Index Fund ETF COM 922908769   352,509 1,486 SH   DFND   0 1,486 0
Vanguard Intermediate Term Corp. Bond ETF COM 92206C870   513,482 6,317 SH   DFND   0 6,317 0
Vanguard S&P 500 Indx Fd ETF COM 922908363   464,486 1,063 SH   DFND   0 1,063 0
Visa Inc. COM 92826C839   616,686 2,369 SH   DFND   0 2,369 0
Visteon Corp. COM 92839U206   16,014,469 128,218 SH   DFND   39,259 88,959 0
Walmart, Inc. COM 931142103   353,778 2,244 SH   DFND   0 2,244 0
Waste Management COM 94106L109   412,574 2,304 SH   DFND   0 2,304 0
WisdomTree CBOE S&P 500 PutWrite Strategy COM 97717X560   1,079,067 34,040 SH   DFND   0 34,040 0
WisdomTree US Mid-Cap Div Fund COM 97717W505   3,571,179 78,161 SH   DFND   0 78,161 0
Zebra Technologies COM 989207105   471,494 1,725 SH   DFND   0 1,725 0
Target Hospitality Corp. COM 87615L107   1,459,500 150,000 SH Call DFND   150,000 0 0
Real Estate Select Sector SPDR Fund COM 81369Y860   1,802,700 45,000 SH Call DFND   45,000 0 0
iShares Silver Trust COM 46428Q109   1,481,040 68,000 SH Call DFND   68,000 0 0
Clorox Company COM 189054109   855,540 6,000 SH Put DFND   6,000 0 0
SPDR Dow Jones Industrial Average ETF Trust COM 78467X109   75,374 200 SH Put DFND   200 0 0
Intel Corporation COM 458140100   2,512,500 50,000 SH Put DFND   50,000 0 0
iShares Russell 2000 ETF COM 464287655   40,142 200 SH Put DFND   200 0 0
Perion Network Ltd COM M78673114   864,360 28,000 SH Put DFND   28,000 0 0
Pfizer Inc. COM 717081103   1,022,045 35,500 SH Put DFND   35,500 0 0
PayPal Holdings, Inc. COM 70450Y103   1,430,853 23,300 SH Put DFND   23,300 0 0
iShares Silver Trust COM 46428Q109   1,481,040 68,000 SH Put DFND   68,000 0 0
Southern Company COM 842587107   1,963,360 28,000 SH Put DFND   28,000 0 0
Direxion Daily Small Cap Bull 3x Shares COM 25459W847   1,183,500 30,000 SH Put DFND   30,000 0 0
Real Estate Select Sector SPDR Fund COM 81369Y860   1,802,700 45,000 SH Put DFND   45,000 0 0