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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Air Lease Corporation CL A 00912X302   7,849 199,373 SH   SOLE   199,373 0 0
American Express Co. COM 025816109   2,050 12,428 SH   SOLE   12,428 0 0
Amgen Inc. COM 031162100   3,012 12,459 SH   SOLE   12,459 0 0
Apple Inc. COM 037833100   3,917 23,763 SH   SOLE   23,763 0 0
CBL & Associates Properties Inc. COMMON STOCK 124830878   8,442 329,255 SH   SOLE   329,255 0 0
Cheniere Energy Inc COM NEW 16411R208   17,253 109,477 SH   SOLE   109,477 0 0
Cheniere Energy Partners COM UNIT 16411Q101   294 6,225 SH   SOLE   6,225 0 0
Chord Energy Corp. COM NEW 674215207   32,660 242,758 SH   SOLE   242,758 0 0
Comcast Cl A CL A 20030N101   5,537 146,061 SH   SOLE   146,061 0 0
Corning Inc. COM 219350105   4,811 136,382 SH   SOLE   136,382 0 0
Eneti Inc. COM Y2294C107   5,085 543,877 SH   SOLE   543,877 0 0
Equitrans Midstream Corp COM 294600101   4,029 697,123 SH   SOLE   697,123 0 0
Genco Shipping SHS Y2685T131   861 55,000 SH   SOLE   55,000 0 0
Genworth Financial Inc COM CL A 37247D106   4,047 806,355 SH   SOLE   806,355 0 0
Gilead Sciences Inc. COM 375558103   2,620 31,576 SH   SOLE   31,576 0 0
Goldman Sachs Group Inc COM 38141G104   5,653 17,284 SH   SOLE   17,284 0 0
Hyster-Yale Materials Handling Inc. Cl A CL A 449172105   5,970 119,675 SH   SOLE   119,675 0 0
Invesco Ltd. SHS G491BT108   4,135 252,164 SH   SOLE   252,164 0 0
Joby Aviation Inc. COMMON STOCK G65163100   1,085 250,000 SH   SOLE   250,000 0 0
MBIA Inc COM 55262C100   10,928 1,180,225 SH   SOLE   1,180,225 0 0
Mammoth Energy Services, Inc. COM 56155L108   14,351 3,400,768 SH   SOLE   3,400,768 0 0
Maui Land & Pineapple Co. COM 577345101   7,725 645,955 SH   SOLE   645,955 0 0
Mesabi Trust CTF BEN INT 590672101   19,965 792,925 SH   SOLE   792,925 0 0
Micron Technology Inc COM 595112103   6,272 103,960 SH   SOLE   103,960 0 0
New York Times Cl A CL A 650111107   3,356 86,322 SH   SOLE   86,322 0 0
Newell Rubbermaid Inc COM 651229106   1,020 82,040 SH   SOLE   82,040 0 0
Noble Corp PLC ORD SHS A G65431127   6,130 155,330 SH   SOLE   155,330 0 0
Qualcomm Inc. COM 747525103   8,180 64,118 SH   SOLE   64,118 0 0
Spirit AeroSystems Holdings, Inc. COM CL A 848574109   4,498 130,275 SH   SOLE   130,275 0 0
Star Bulk Carriers Corp. SHS PAR Y8162K204   7,377 349,222 SH   SOLE   349,222 0 0
Tidewater Inc. COM 88642r109   19,737 447,761 SH   SOLE   447,761 0 0
United Natural Foods Inc. COM 911163103   12,321 467,596 SH   SOLE   467,596 0 0
Valaris Ltd CL A G9460G101   21,731 334,019 SH   SOLE   334,019 0 0