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
Expires: July 31, 2015
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
Abbott Laboratories COM 002824100 263,757 2,907 SH DFND 0 2,907 0
Abbvie Inc. COM 00287Y109 375,149 1,491 SH DFND 0 1,491 0
Accenture PLC COM G1151C101 265,306 2,132 SH DFND 0 2,132 0
ACNB Corp. COM 000868109 21,456,191 361,337 SH DFND 102,051 259,286 0
Aersale Corp. COM 00810F106 13,242,498 2,095,332 SH DFND 835,983 1,259,349 0
Alphabet Inc. Cl A COM 02079K305 6,022,717 16,853 SH DFND 4,400 12,453 0
Alphabet Inc. Cl C COM 02079K107 1,694,924 4,797 SH DFND 0 4,797 0
Amazon.com COM 023135106 4,337,550 18,199 SH DFND 6,100 12,099 0
Amphenol Corp-Cl A COM 032095101 370,272 2,100 SH DFND 0 2,100 0
Apple, Inc. COM 037833100 6,796,705 23,489 SH DFND 3,700 19,789 0
Applied Materials Inc. COM 038222105 216,900 300 SH DFND 0 300 0
Astronics Corp Cl B COM 046433207 3,222,658 42,403 SH DFND 12,662 29,741 0
Astronics Corp. COM 046433108 5,957,171 73,310 SH DFND 7,010 66,300 0
Asure Software, Inc. COM 04649U102 33,375,996 4,203,526 SH DFND 1,376,440 2,827,086 0
Automatic Data Processing Inc. COM 053015103 391,913 1,750 SH DFND 0 1,750 0
Bank of America Corp. COM 060505104 508,937 8,932 SH DFND 0 8,932 0
Bar Harbor Bankshares COM 066849100 5,029,066 133,185 SH DFND 18,775 114,410 0
Barrett Business Services, Inc. COM 068463108 42,948,596 1,209,138 SH DFND 350,769 858,369 0
Berkshire Hathaway Inc. Cl B COM 084670702 612,978 1,225 SH DFND 0 1,225 0
BGC Group, Inc. COM 088929104 45,060,723 4,215,222 SH DFND 1,337,470 2,877,752 0
Blackrock Inc. COM 09290D101 456,491 475 SH DFND 0 475 0
Broadcom Inc. COM 11135F101 403,076 1,067 SH DFND 0 1,067 0
Campbell Soup Co. COM 134429109 2,171,325 97,500 SH DFND 62,000 35,500 0
Canadian National Railway Co. COM 136375102 281,406 2,360 SH DFND 0 2,360 0
Caterpillar Inc. COM 149123101 1,299,178 1,220 SH DFND 0 1,220 0
CF Industries Holdings Inc. COM 125269100 833,667 7,701 SH DFND 6,000 1,701 0
Chemours COM 163851108 3,632,040 177,000 SH DFND 105,600 71,400 0
Chevron Corporation COM 166764100 2,091,497 12,618 SH DFND 0 12,618 0
Chubb Limited COM H1467J104 428,310 1,257 SH DFND 0 1,257 0
Cisco Systems Inc. COM 17275R102 763,490 6,500 SH DFND 0 6,500 0
Clorox Co. COM 189054109 3,760,336 39,400 SH DFND 28,400 11,000 0
Coinbase Global Inc Cl A COM 19260Q107 453,189 3,100 SH DFND 2,100 1,000 0
CubeSmart COM 229663109 1,567,733 39,420 SH DFND 38,000 1,420 0
Custom Truck One Source COM 23204X103 1,470,995 124,555 SH DFND 0 124,555 0
Diamedica Therapeutics Inc COM 25253X207 352,000 50,000 SH DFND 0 50,000 0
Direxion Daily Small Cap Bull 3X Shs COM 25459W847 353,017 4,700 SH DFND 4,700 0 0
Direxion Financial Bull 3X Shs COM 25459Y694 2,251,854 15,300 SH DFND 10,800 4,500 0
Direxion NASDAQ-100 Equal Weighted ETF COM 25459Y207 2,307,748 18,914 SH DFND 0 18,914 0
Duke Energy Corp. COM 26441C204 341,766 2,700 SH DFND 0 2,700 0
Dynatrace, Inc. COM 268150109 851,415 19,390 SH DFND 0 19,390 0
Eli Lilly & Co. COM 532457108 510,008 425 SH DFND 0 425 0
Energy Select Sector SPDR COM 81369Y506 1,808,749 34,057 SH DFND 23,000 11,057 0
Extra Space Storage Inc COM 30225T102 1,525,650 10,500 SH DFND 9,500 1,000 0
Exxon Mobil Corp. COM 30233Q108 821,140 6,006 SH DFND 0 6,006 0
Fastenal Company COM 311900104 230,544 4,800 SH DFND 0 4,800 0
FB Financial Corp. COM 30257X104 3,159,821 57,088 SH DFND 17,076 40,012 0
Financials Select Sector SPDR COM 81369Y605 337,060 6,287 SH DFND 0 6,287 0
First American Financial Corp. COM 31847R102 19,788,764 288,508 SH DFND 82,205 206,303 0
First Trust NASDAQ Cybersecurity ETF COM 33734X846 278,535 3,100 SH DFND 0 3,100 0
FirstEnergy Corp. COM 337932107 1,878,930 39,523 SH DFND 38,100 1,423 0
FMC Corp New COM 302491303 1,155,750 100,500 SH DFND 38,000 62,500 0
Global Self Storage Inc COM 37955N106 1,170,286 223,337 SH DFND 213,337 10,000 0
Harrow, Inc. COM 415858109 67,899,762 1,598,770 SH DFND 478,104 1,120,666 0
Healthcare Select Sector SPDR COM 81369Y209 472,549 2,978 SH DFND 0 2,978 0
Helmerich & Payne COM 423452101 1,031,310 31,500 SH DFND 17,500 14,000 0
Highland Opps & Income Fund 5.375 pct. Sr A Pfd PFD 43010E503 2,108,626 129,205 SH DFND 109,305 19,900 0
Home Depot Inc. COM 437076102 1,098,427 3,115 SH DFND 0 3,115 0
Hometrust Bancshares, Inc. COM 437872104 12,389,433 248,335 SH DFND 66,599 181,736 0
Honeywell Aerospace Inc COM 43849R105 225,944 1,022 SH DFND 0 1,022 0
Honeywell Intl Inc COM 438516205 228,826 1,022 SH DFND 0 1,022 0
Information Services Group, Inc. COM 45675Y104 20,032,419 4,874,068 SH DFND 1,465,434 3,408,634 0
Intel Corporation COM 458140100 279,260 2,000 SH DFND 0 2,000 0
International Business Machines Corp. COM 459200101 6,812,814 24,227 SH DFND 0 24,227 0
International Workplace Group, PLC COM G4969N103 22,411,065 9,091,710 SH DFND 2,095,415 6,996,295 0
Invesco QQQ Trust Series 1 COM 46090E103 1,698,247 2,306 SH DFND 0 2,306 0
Invesco S&P 100 Equal Weight ETF COM 46137V449 2,038,608 15,801 SH DFND 0 15,801 0
iShares Core Dividend Growth ETF COM 46434V621 569,218 7,510 SH DFND 0 7,510 0
iShares Core MSCI EAFE ETF COM 46432F842 295,188 3,056 SH DFND 0 3,056 0
iShares Core MSCI Emerging Markets COM 46434G103 494,272 5,967 SH DFND 0 5,967 0
iShares Core MSCI Total Int'l Stock ETF COM 46432F834 557,372 5,840 SH DFND 0 5,840 0
iShares Core S&P 500 COM 464287200 4,238,598 5,660 SH DFND 0 5,660 0
iShares Core S&P Mid Cap ETF COM 464287507 4,613,231 59,827 SH DFND 0 59,827 0
iShares Core S&P Small Cap ETF COM 464287804 763,473 5,148 SH DFND 0 5,148 0
iShares Expanded Tech-Software Sector COM 464287515 4,846,654 53,495 SH DFND 17,200 36,295 0
iShares Russell 1000 Index Fund ETF COM 464287622 301,986 737 SH DFND 0 737 0
iShares Russell 2000 Index ETF COM 464287655 786,578 2,618 SH DFND 800 1,818 0
iShares S&P 500 Growth ETF COM 464287309 204,461 1,487 SH DFND 0 1,487 0
iShares Select Dividend ETF COM 464287168 4,156,483 26,593 SH DFND 0 26,593 0
iShares US Pharmaceuticals ETF COM 464288836 291,584 2,945 SH DFND 0 2,945 0
Janus International Group Inc COM 47103N106 2,780,550 501,000 SH DFND 400,000 101,000 0
JM Smucker Company COM 832696405 348,750 3,100 SH DFND 0 3,100 0
Johnson & Johnson COM 478160104 1,309,699 5,157 SH DFND 0 5,157 0
JP Morgan Chase Fin'l Co LLC Alerian COM 48133Q309 253,273 7,343 SH DFND 0 7,343 0
JPMorgan Chase & Co. COM 46625H100 36,061,971 110,170 SH DFND 0 110,170 0
Keurig Dr Pepper Inc COM 49271V100 2,752,593 84,100 SH DFND 62,000 22,100 0
KKR & Co, Inc. COM 48251W104 43,475,045 473,688 SH DFND 124,490 349,198 0
Kla Corp. COM 482480100 3,623,537 12,010 SH DFND 0 12,010 0
L3Harris Technologies Inc. COM 502431109 209,225 720 SH DFND 0 720 0
Lakeland Industries, Inc. COM 511795106 13,354,739 1,249,274 SH DFND 365,412 883,862 0
Lantheus Holdings, Inc. COM 516544103 39,741,371 358,224 SH DFND 111,743 246,481 0
Ligand Pharmaceuticals, Inc. COM 53220K504 52,475,997 166,016 SH DFND 48,510 117,506 0
Linde PLC COM G54950103 537,493 1,036 SH DFND 0 1,036 0
Lockheed Martin Corp. COM 539830109 447,492 878 SH DFND 0 878 0
Lowes Companies Inc. COM 548661107 430,051 1,950 SH DFND 0 1,950 0
Marriott International A COM 571903202 373,925 1,009 SH DFND 0 1,009 0
Mastercard Incorporated COM 57636Q104 1,549,374 3,017 SH DFND 0 3,017 0
Matthews International Corp. COM 577128101 32,355,740 1,201,922 SH DFND 354,633 847,289 0
McDonalds Corp. COM 580135101 351,403 1,300 SH DFND 0 1,300 0
McKesson Corp. COM 58155Q103 519,097 687 SH DFND 0 687 0
Merck & Co. Inc. COM 58933Y105 298,763 2,325 SH DFND 0 2,325 0
Meta Platforms, Inc. COM 30303M102 772,881 1,372 SH DFND 0 1,372 0
Microsoft Corp COM 594918104 4,918,986 13,187 SH DFND 4,000 9,187 0
MiMedx Group Inc COM 602496101 75,425 19,591 SH DFND 0 19,591 0
Motorcar Parts of America, Inc. COM 620071100 35,989,683 2,349,196 SH DFND 738,287 1,610,909 0
National Fuel Gas Co. COM 636180101 532,749 6,900 SH DFND 6,000 900 0
National Storage Affiliates Preferred 6 pct. PFD 74460W370 1,286,208 57,600 SH DFND 48,750 8,850 0
NextEra Energy Inc. COM 65339F101 370,128 4,217 SH DFND 0 4,217 0
Northern Trust Corporation COM 665859104 938,736 5,400 SH DFND 0 5,400 0
Norwegian Cruise Line Holdings COM G66721104 1,266,600 60,000 SH DFND 60,000 0 0
Nutrien Ltd. COM 67077M108 730,220 11,600 SH DFND 10,500 1,100 0
Nvidia Corporation COM 67066G104 1,515,519 7,574 SH DFND 700 6,874 0
Onterris Inc COM 615111101 6,008,534 297,305 SH DFND 81,610 215,695 0
Palantir Technologies Inc. COM 69608A108 5,183,734 44,431 SH DFND 0 44,431 0
Papa John's International COM 698813102 2,360,634 64,200 SH DFND 38,000 26,200 0
Paychex, Inc. COM 704326107 1,775,722 18,059 SH DFND 5,600 12,459 0
Paypal Holdings Inc. COM 70450Y103 1,224,153 28,350 SH DFND 0 28,350 0
Pepsico, Inc. COM 713448108 881,454 6,510 SH DFND 0 6,510 0
Perion Network, Ltd. COM M78673114 49,847,004 5,133,574 SH DFND 1,519,183 3,614,391 0
Pfizer, Inc. COM 717081103 2,821,081 117,155 SH DFND 78,000 39,155 0
Phillips 66 COM 718546104 1,958,774 11,587 SH DFND 7,000 4,587 0
Pinnacle Financial Partners Inc COM 72348N109 18,725,593 185,622 SH DFND 52,289 133,333 0
Pioneer Bancorp COM 723561106 6,260,832 366,774 SH DFND 57,490 309,284 0
PowerFleet, Inc. COM 73931J109 28,582,382 7,462,763 SH DFND 2,936,454 4,526,309 0
Progressive COM 743315103 1,128,513 5,166 SH DFND 0 5,166 0
ProShares S&P 500 Dividend Aristocrats COM 74348A467 5,460,846 97,237 SH DFND 0 97,237 0
ProShares UltraPro QQQ COM 74347X831 1,863,000 23,000 SH DFND 23,000 0 0
Public Storage COM 74460D109 3,565,072 11,200 SH DFND 10,200 1,000 0
Public Storage Preferred 4.75 pct. PFD 74460W578 705,257 38,350 SH DFND 27,550 10,800 0
Public Storage Preferred 4.875 pct. PFD 74460W628 702,188 37,450 SH DFND 26,850 10,600 0
Qualcomm, Inc. COM 747525103 2,112,914 11,434 SH DFND 6,000 5,434 0
Quest Diagnostics, Inc. COM 74834L100 1,843,965 8,700 SH DFND 6,500 2,200 0
QuinStreet, Inc. COM 74874Q100 68,847,851 4,699,512 SH DFND 1,458,184 3,241,328 0
Range Resources COM 75281A109 1,654,955 44,500 SH DFND 35,500 9,000 0
Raymond James Financial, Inc. COM 754730109 8,026,804 52,798 SH DFND 0 52,798 0
Rocket Companies Inc. COM 77311W101 734,738 46,650 SH DFND 0 46,650 0
Royce Micro Cap Closed Fund COM 780915104 397,695 27,165 SH DFND 0 27,165 0
S&P Regional Banking SPDR COM 78464A698 448,726 5,995 SH DFND 4,000 1,995 0
Saba Closed-End Funds ETF COM 30151E806 6,236,980 243,252 SH DFND 0 243,252 0
Schwab International Equity ETF COM 808524805 1,911,756 69,016 SH DFND 0 69,016 0
Schwab Strategic Tr Emerging Mkts Eqty ETF COM 808524706 477,952 13,181 SH DFND 0 13,181 0
Secure Waste Infrastructure Corp. COM 813921103 31,087,451 1,998,165 SH DFND 580,555 1,417,610 0
ServiceNow Inc. COM 81762P102 81,410 820 SH DFND 0 820 0
SmartFinancial, Inc. COM 83190L208 20,293,448 432,512 SH DFND 119,782 312,730 0
Smartstop Self Storage COM 83192D402 1,007,500 31,000 SH DFND 31,000 0 0
Southern Co. COM 842587107 729,484 7,622 SH DFND 7,500 122 0
SPDR Bloomberg Barclays 1-3 Month Bill ETF COM 78468R663 320,740 3,500 SH DFND 0 3,500 0
State Str Spdr Dow Jones Indl Ut Ser 1 COM 78467X109 600,749 1,150 SH DFND 200 950 0
State Str Spdr S&P Midcap 400 Utser1 S&Pdcrp COM 78467Y107 270,786 385 SH DFND 0 385 0
State Street Spdr S&P 500 Etf Trust COM 78462F103 7,475,603 10,011 SH DFND 6,500 3,511 0
Target Corp. COM 87612E106 2,083,230 15,950 SH DFND 9,000 6,950 0
Target Hospitality Corp. COM 87615L107 66,395,548 3,261,078 SH DFND 976,564 2,284,514 0
Technology Sector SPDR COM 81369Y803 342,936 1,800 SH DFND 0 1,800 0
Texas Instruments COM 882508104 753,995 2,530 SH DFND 0 2,530 0
Thermo Fisher Scientific Inc. COM 883556102 696,389 1,389 SH DFND 0 1,389 0
TJX Companies Inc. COM 872540109 356,025 2,350 SH DFND 0 2,350 0
Tractor Supply Co. COM 892356106 3,516,296 111,240 SH DFND 68,300 42,940 0
Trane Technologies PLC COM G8994E103 448,429 913 SH DFND 0 913 0
Travelers Companies, Inc. COM 89417E109 410,669 1,244 SH DFND 0 1,244 0
Tronox Holdings, PLC COM G9087Q102 8,179,039 1,298,260 SH DFND 89,711 1,208,549 0
U-Haul Holding Company COM 023586100 823,890 12,590 SH DFND 12,000 590 0
Utilities Select Sector SPDR COM 81369Y886 2,422,541 53,431 SH DFND 0 53,431 0
Vanguard Dividend Appreciation Indx ETF COM 921908844 3,982,255 16,830 SH DFND 0 16,830 0
Vanguard FTSE All World Ex US ETF COM 922042775 881,321 10,523 SH DFND 0 10,523 0
Vanguard FTSE Emerging Markets ETF COM 922042858 421,429 7,060 SH DFND 0 7,060 0
Vanguard Growth Indx Fd ETF COM 922908736 1,396,268 16,209 SH DFND 0 16,209 0
Vanguard High Dividend Yield Index Fd ETF COM 921946406 1,203,539 7,616 SH DFND 0 7,616 0
Vanguard Index Fund ETF COM 922908769 502,213 1,357 SH DFND 0 1,357 0
Vanguard Intermediate Term Corp. Bond ETF COM 92206C870 525,601 6,359 SH DFND 0 6,359 0
Vanguard Mid-Cap Index Fund COM 922908629 307,410 3,815 SH DFND 0 3,815 0
Vanguard S&P 500 Indx Fd ETF COM 922908363 925,134 1,347 SH DFND 0 1,347 0
Vanguard Total Bond Market Index ETF COM 921937835 1,408,732 19,190 SH DFND 0 19,190 0
Verizon Communications, Inc. COM 92343V104 1,572,444 37,138 SH DFND 0 37,138 0
Verra Mobility Corp. COM 92511U102 4,458,739 1,049,115 SH DFND 314,595 734,520 0
Visa Inc. COM 92826C839 245,439 715 SH DFND 0 715 0
Walmart, Inc. COM 931142103 954,214 8,425 SH DFND 0 8,425 0
Waste Management COM 94106L109 651,944 2,925 SH DFND 0 2,925 0
WisdomTree Equity Premium Income Fund COM 97717X560 4,051,091 123,547 SH DFND 0 123,547 0
WisdomTree US Mid-Cap Div Fund COM 97717W505 5,247,694 92,847 SH DFND 0 92,847 0
Zebra Technologies COM 989207105 454,124 1,725 SH DFND 0 1,725 0
AerSale Corporation COM 00810F106 316,000 50,000 SH Call DFND 50,000 0 0
Chemours Co. COM 163851108 350,892 17,100 SH Call DFND 15,000 2,100 0
Carnival Corporation Ltd. COM G2004J103 714,250 25,000 SH Call DFND 0 25,000 0
Clorox Company COM 189054109 2,195,120 23,000 SH Call DFND 10,500 12,500 0
Campbell's Company COM 134429109 2,449,700 110,000 SH Call DFND 110,000 0 0
FMC Corporation COM 302491303 1,322,500 115,000 SH Call DFND 80,000 35,000 0
Harrow, Inc. COM 415858109 743,225 17,500 SH Call DFND 5,000 12,500 0
Norwegian Cruise Line Holdings Ltd. COM G66721104 1,583,250 75,000 SH Call DFND 50,000 25,000 0
ServiceNow, Inc. COM 81762P102 1,290,640 13,000 SH Call DFND 0 13,000 0
Perion Network Ltd COM M78673114 971,000 100,000 SH Call DFND 100,000 0 0
Pfizer Inc. COM 717081103 9,270,800 385,000 SH Call DFND 350,000 35,000 0
Palantir Technologies Inc. Class A COM 69608A108 1,341,705 11,500 SH Call DFND 0 11,500 0
PayPal Holdings, Inc. COM 70450Y103 1,347,216 31,200 SH Call DFND 16,200 15,000 0
QUALCOMM Incorporated COM 747525103 277,185 1,500 SH Call DFND 0 1,500 0
Rocket Companies, Inc. Class A COM 77311W101 1,417,500 90,000 SH Call DFND 90,000 0 0
Tractor Supply Company COM 892356106 4,425,400 140,000 SH Call DFND 90,000 50,000 0
Verra Mobility Corp. Class A COM 92511U102 212,500 50,000 SH Call DFND 50,000 0 0
Zscaler, Inc. COM 98980G102 776,325 5,500 SH Call DFND 0 5,500 0
Clorox Company COM 189054109 1,002,120 10,500 SH Put DFND 10,500 0 0
State Street SPDR Dow Jones Industrial Average ETF Trust COM 78467X109 104,478 200 SH Put DFND 200 0 0
iShares Russell 2000 ETF COM 464287655 60,090 200 SH Put DFND 200 0 0
Invesco QQQ Trust Series I COM 46090E103 73,640 100 SH Put DFND 0 100 0
ProShares UltraPro QQQ COM 74347X831 1,215,000 15,000 SH Put DFND 0 15,000 0