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

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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   10,813 210,198 SH   SOLE   210,198 0 0
American Express Co. COM 025816109   2,638 11,584 SH   SOLE   11,584 0 0
Amgen Inc. COM 031162100   3,377 11,880 SH   SOLE   11,880 0 0
Apple Inc. COM 037833100   3,849 22,443 SH   SOLE   22,443 0 0
CBL & Associates Properties Inc. COMMON STOCK 124830878   7,506 327,640 SH   SOLE   327,640 0 0
Cadeler A/S Spons Adr SPON ADR 12738K109   8,390 462,489 SH   SOLE   462,489 0 0
Cheniere Energy Inc COM NEW 16411R208   13,892 86,137 SH   SOLE   86,137 0 0
Cheniere Energy Partners COM UNIT 16411Q101   294 5,950 SH   SOLE   5,950 0 0
Chord Energy Corp. COM NEW 674215207   37,020 207,709 SH   SOLE   207,709 0 0
Comcast Cl A CL A 20030N101   6,292 145,134 SH   SOLE   145,134 0 0
Corning Inc. COM 219350105   4,353 132,083 SH   SOLE   132,083 0 0
Equitrans Midstream Corp COM 294600101   9,481 759,108 SH   SOLE   759,108 0 0
Genco Shipping SHS Y2685T131   1,118 55,000 SH   SOLE   55,000 0 0
Genworth Financial Inc COM CL A 37247D106   5,102 793,395 SH   SOLE   793,395 0 0
Gilead Sciences Inc. COM 375558103   2,116 28,897 SH   SOLE   28,897 0 0
Goldman Sachs Group Inc COM 38141G104   6,921 16,569 SH   SOLE   16,569 0 0
Hyster-Yale Materials Handling Inc. Cl A CL A 449172105   16,309 254,155 SH   SOLE   254,155 0 0
Invesco Ltd. SHS G491BT108   4,146 249,899 SH   SOLE   249,899 0 0
Joby Aviation Inc. COMMON STOCK G65163100   9,354 1,745,140 SH   SOLE   1,745,140 0 0
MBIA Inc COM 55262C100   8,689 1,285,384 SH   SOLE   1,285,384 0 0
Mammoth Energy Services, Inc. COM 56155L108   12,137 3,343,618 SH   SOLE   3,343,618 0 0
Maui Land & Pineapple Co. COM 577345101   15,442 712,913 SH   SOLE   712,913 0 0
Mesabi Trust CTF BEN INT 590672101   14,172 800,682 SH   SOLE   800,682 0 0
Micron Technology Inc COM 595112103   11,952 101,402 SH   SOLE   101,402 0 0
New York Times Cl A CL A 650111107   4,597 106,354 SH   SOLE   106,354 0 0
Noble Corp PLC ORD SHS A G65431127   6,562 135,330 SH   SOLE   135,330 0 0
Qualcomm Inc. COM 747525103   10,782 63,691 SH   SOLE   63,691 0 0
Spirit AeroSystems Holdings, Inc. COM CL A 848574109   8,414 233,255 SH   SOLE   233,255 0 0
Star Bulk Carriers Corp. SHS PAR Y8162K204   8,319 348,492 SH   SOLE   348,492 0 0
Tidewater Inc. COM 88642r109   22,944 249,396 SH   SOLE   249,396 0 0
United Natural Foods Inc. COM 911163103   5,571 484,836 SH   SOLE   484,836 0 0
Valaris Ltd CL A G9460G101   25,082 333,267 SH   SOLE   333,267 0 0
Bank of America CNV PFD L 7.25%CNV PFD L 060505682   201 168 SH   SOLE   168 0 0