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
CRESUD S.A.-SPONS ADR COM 226406106   127,537 10,098 SH   DFND 1, 2, 3, 4 10,098 0 0
SHINHAN FINANCIAL GROUP-ADR COM 824596100   348,528 10,600 SH   DFND 1, 2, 3, 4 10,600 0 0
CLIPPER REALTY INC COM 18885T306   103,590 22,618 SH   DFND 1, 2, 3, 4 22,618 0 0
COREBRIDGE FINANCIAL INC COM 21871X109   5,451,899 182,155 SH   DFND 1, 2, 3, 4 182,155 0 0
DEVON ENERGY CORP COM 25179M103   425,490 13,000 SH   DFND 1, 2, 3, 4 13,000 0 0
FIRST SEACOAST BANCORP INC COM 33631F104   903,600 90,000 SH   DFND 1, 2, 3, 4 90,000 0 0
GRAIL INC COM 384747101   14,826,959 830,642 SH   DFND 1, 2, 3, 4 830,642 0 0
GREIF INC-CL B COM 397624206   13,368,689 197,033 SH   DFND 1, 2, 3, 4 197,033 0 0
INHIBRX BIOSCIENCES INC COM 45720N103   432,663 28,095 SH   DFND 1, 2, 3, 4 28,095 0 0
LENNAR CORP - B SHS COM 526057302   743,872 5,629 SH   DFND 1, 2, 3, 4 5,629 0 0
LIBERTY LATIN AMERIC-CL A COM G9001E102   1,046,099 164,481 SH   DFND 1, 2, 3, 4 164,481 0 0
LIBERTY LATIN AMERIC-CL C COM G9001E128   2,276,364 359,048 SH   DFND 1, 2, 3, 4 359,048 0 0
LOGAN RIDGE FINANCE CORP COM 541098109   1,258,446 50,358 SH   DFND 1, 2, 3, 4 50,358 0 0
MARTI TECHNOLOGIES INC COM 573134103   223,577 65,952 SH   DFND 1, 2, 3, 4 65,952 0 0
MGIC INVESTMENT CORP COM 552848103   1,754,540 74,000 SH   DFND 1, 2, 3, 4 74,000 0 0
NI HOLDINGS INC COM 65342T106   806,854 51,392 SH   DFND 1, 2, 3, 4 51,392 0 0
OPPENHEIMER HOLDINGS-CL A COM 683797104   3,184,183 49,683 SH   DFND 1, 2, 3, 4 49,683 0 0
PAGSEGURO DIGITAL LTD-CL A COM 00000NANA   1,095,830 39,000 SH   DFND 1, 2, 3, 4 39,000 0 0
SENECA FOODS CORP - CL A COM 817070501   332,099 4,190 SH   DFND 1, 2, 3, 4 4,190 0 0
SENECA FOODS CORP - CL B COM 817070105   587,634 7,400 SH   DFND 1, 2, 3, 4 7,400 0 0
SIRIUSPOINT LTD COM G8192H106   3,512,081 214,282 SH   DFND 1, 2, 3, 4 214,282 0 0
SONIDA SENIOR LIVING INC COM 140475203   7,069,565 307,569 SH   DFND 1, 2, 3, 4 307,569 0 0
STEREOTAXIS INC COM 85916J409   6,363,635 2,791,068 SH   DFND 1, 2, 3, 4 2,791,068 0 0
TEJON RANCH CO COM 879080109   234,398 14,742 SH   DFND 1, 2, 3, 4 14,742 0 0
NAVIOS MARITIME PARTNERS LP COM 00000NANA   1,095,830 39,000 SH   DFND 1, 2, 3, 4 39,000 0 0
ARBOR REALTY TRUST INC COM 038923108   4,447,235 321,100 SH Put DFND 1, 2, 3, 4 0 0 321,100
ARK INNOVATION ETF COM 00214Q104   1,913,149 33,700 SH Put DFND 1, 2, 3, 4 0 0 33,700
FMC CORP COM 302491303   597,903 12,300 SH Put DFND 1, 2, 3, 4 0 0 12,300
TESLA INC COM 88160R101   87,310,208 216,200 SH Put DFND 1, 2, 3, 4 0 0 216,200