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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACADEMY SPORTS & OUTDOORS IN COM 00402L107   2,653,061 53,040 SH   OTR 1 53,040 0 0
ADVANCED ENERGY INDS COM 007973100   803,912 4,725 SH   SOLE   4,725 0 0
AERCAP HOLDINGS NV SHS N00985106   12,881,660 106,460 SH   OTR 1 106,460 0 0
AGNICO EAGLE MINES LTD COM 008474108   927,080 5,500 SH   OTR 1 5,500 0 0
ALAMOS GOLD INCORPORATED COM CL A 011532108   906,360 26,000 SH   OTR 1 26,000 0 0
ALLISON TRANSMISSION HLDGS INC COM 01973R101   4,919,560 57,959 SH   OTR 1 57,959 0 0
ALPHA TAU MEDICAL LTD *W EXP 99/99/999 M0740A116   17,250 50,000 SH   OTR 1 50,000 0 0
AMKOR TECHNOLOGY INC COM 031652100   516,170 18,175 SH   OTR 1 18,175 0 0
AMREP CORP NEW COM 032159105   551,849 23,071 SH   SOLE   23,071 0 0
AMREP CORP NEW COM 032159105   11,825,259 494,367 SH   OTR 1 494,367 0 0
AMRIZE LTD SHS H2927K103   412,505 8,500 SH   OTR 1 8,500 0 0
APPLE INC COM 037833100   268,084 1,053 SH   SOLE   1,053 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203   12,251,235 338,900 SH   OTR 1 338,900 0 0
ASBURY AUTOMOTIVE GROUP COM 043436104   4,926,401 20,153 SH   OTR 1 20,153 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107   11,646,063 96,050 SH   SOLE   96,050 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107   38,548,891 317,929 SH   OTR 1 317,929 0 0
CACI INTL INC CL A 127190304   1,795,608 3,600 SH   OTR 1 3,600 0 0
CANADIAN NAT RES LTD COM 136385101   8,839,641 276,074 SH   OTR 1 276,074 0 0
CANADIAN NAT RES LTD COM 136385101   1,601,771 50,118 SH   SOLE   50,118 0 0
CANADIAN SOLAR INC COM 136635109   6,132,321 470,270 SH   OTR 1 470,270 0 0
CANADIAN SOLAR INC COM 136635109   78,240 6,000 SH   SOLE   6,000 0 0
CAVCO INDS INC DEL COM 149568107   18,117,034 31,197 SH   OTR 1 31,197 0 0
CAVCO INDS INC DEL COM 149568107   472,714 814 SH   SOLE   814 0 0
CGI INC CL A SUB VTG 12532H104   1,782,600 20,000 SH   OTR 1 20,000 0 0
CHAMPION HOMES INC COM 830830105   5,268,079 68,981 SH   OTR 1 68,981 0 0
CUMMINS INC COM 231021106   232,304 550 SH   SOLE   550 0 0
DANA HOLDING CORP COM 235825205   106,212 5,300 SH   SOLE   5,300 0 0
DANA HOLDING CORP COM 235825205   3,171,591 158,263 SH   OTR 1 158,263 0 0
FIVE POINT HOLDINGS LLC COM 33833Q106   42,679,022 6,962,320 SH   OTR 1 6,962,320 0 0
FIVE POINT HOLDINGS LLC COM 33833Q106   12,260 2,000 SH   SOLE   2,000 0 0
HILTON GRAND VACATIONS INC COM 43283X105   620,879 14,850 SH   OTR 1 14,850 0 0
HUDBAY MINERALS INC COM 443628102   833,800 55,000 SH   OTR 1 55,000 0 0
INSTEEL INDUSTRIES INC COM 45774W108   11,389,089 297,055 SH   OTR 1 297,055 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102   460,800 10,000 SH   OTR 1 10,000 0 0
JEFFERIES FINL GROUP INC COM 47233W109   2,783,163 42,543 SH   SOLE   42,543 0 0
JEFFERIES FINL GROUP INC COM 47233W109   18,981,482 290,148 SH   OTR 1 290,148 0 0
LEGACY HOUSING CORP COM 52472M101   6,111,814 222,167 SH   OTR 1 222,167 0 0
LINCOLN ELEC HLDGS INC COM 533900106   11,721,930 49,705 SH   OTR 1 49,705 0 0
LOUISIANA PAC CORP COM 546347105   6,992,241 78,706 SH   OTR 1 78,706 0 0
LSB INDS INC COM 502160104   344,782 43,754 SH   SOLE   43,754 0 0
LSB INDS INC COM 502160104   33,207,644 4,214,168 SH   OTR 1 4,214,168 0 0
MILLROSE PPTYS INC COM CL A 601137102   7,104,818 211,390 SH   OTR 1 211,390 0 0
MORGAN STANLEY COM NEW 617446448   34,176 215 SH   SOLE   215 0 0
MORGAN STANLEY COM NEW 617446448   1,033,240 6,500 SH   OTR 1 6,500 0 0
NATIONAL ENERGY SERVICES REU SHS G6375R107   102,600 10,000 SH   SOLE   10,000 0 0
NAVIGATOR HOLDINGS PLC SHS Y62132108   11,393,375 735,531 SH   OTR 1 735,531 0 0
NOBLE CORP NEW ORD SHS A G65431127   4,168,981 147,418 SH   OTR 1 147,418 0 0
OLIN CORP NEW COM PAR $1 680665205   8,871 355 SH   SOLE   355 0 0
OLIN CORP NEW COM PAR $1 680665205   883,721 35,363 SH   OTR 1 35,363 0 0
ORLA MNG LTD NEW COM 68634K106   162,000 15,000 SH   OTR 1 15,000 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   633,000 50,000 SH   OTR 1 50,000 0 0
PREFORMED LINE PRODS CO COM 740444104   3,625,637 18,484 SH   OTR 1 18,484 0 0
QUIPT HOME MEDICAL CORP COM 74880P104   48,958 18,758 SH   OTR 1 18,758 0 0
RADNET INC COM 750491102   13,982,325 183,471 SH   OTR 1 183,471 0 0
RADNET INC COM 750491102   205,767 2,700 SH   SOLE   2,700 0 0
RANGER ENERGY SVCS INC COM CL A 75282U104   1,404,000 100,000 SH   OTR 1 100,000 0 0
SANDISK CORP COM 80004C200   74,725 666 SH   SOLE   666 0 0
SANDISK CORP COM 80004C200   2,956,021 26,346 SH   OTR 1 26,346 0 0
SCHLUMBERGER LIMITED COM 806857108   274,960 8,000 SH   OTR 1 8,000 0 0
SEA LTD SPONSORED ADS 81141R100   2,680,950 15,000 SH   OTR 1 15,000 0 0
SEACOR MARINE HOLDINGS INC COM 78413P101   5,462,114 841,620 SH   OTR 1 841,620 0 0
SEACOR MARINE HOLDINGS INC COM 78413P101   1,921 296 SH   SOLE   296 0 0
SEADRILL 2021 LTD COM G7997W102   484,871 16,050 SH   OTR 1 16,050 0 0
SENECA FOODS CORP COM 817070501   1,079 10 SH   SOLE   10 0 0
SENECA FOODS CORP COM 817070501   2,564,654 23,760 SH   OTR 1 23,760 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102   5,235,000 7,500 SH   OTR 1 7,500 0 0
TECHNIPFMC PLC COM G87110105   6,904 175 SH   SOLE   175 0 0
TECHNIPFMC PLC COM G87110105   6,535,169 165,657 SH   OTR 1 165,657 0 0
TECK RESOURCES INC CL B 878742204   4,389,000 100,000 SH   OTR 1 100,000 0 0
TIDEWATER INC COM 88642R109   11,449,844 214,698 SH   SOLE   214,698 0 0
TIDEWATER INC COM 88642R109   145,882,028 2,735,459 SH   OTR 1 2,735,459 0 0
TRAVEL PLUS LEISURE CO COM 894164102   7,272,890 122,254 SH   OTR 1 122,254 0 0
U HAUL HOLDING COMPANY COM SER N 023586506   1,730,600 34,000 SH   OTR 1 34,000 0 0
VALARIS LIMITED CL A G9460G101   2,561,595 52,524 SH   OTR 1 52,524 0 0
WEST FRASER TIMBER CO LTD COM 952845105   19,519,709 287,139 SH   OTR 1 287,139 0 0
WEST FRASER TIMBER CO LTD COM 952845105   413,658 6,085 SH   SOLE   6,085 0 0
WESTERN DIGITAL CORP COM 958102105   240,120 2,000 SH   SOLE   2,000 0 0
WESTERN DIGITAL CORP COM 958102105   10,073,634 83,905 SH   OTR 1 83,905 0 0
WESTLAKE CHEM CORP COM 960413102   243,895 3,165 SH   SOLE   3,165 0 0
WESTLAKE CHEM CORP COM 960413102   13,769,543 178,686 SH   OTR 1 178,686 0 0