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
SHINHAN FINANCIAL GROUP-ADR COM 824596100   821,248 25,600 SH   DFND 1, 2, 3, 4 25,600 0 0
ALPHABET INC-CL A COM 02079K305   231,960 1,500 SH   DFND 1, 2, 3, 4 1,500 0 0
B2GOLD CORP COM 11777Q209   71,250 25,000 SH   DFND 1, 2, 3, 4 25,000 0 0
CLIPPER REALTY INC COM 18885T306   86,853 22,618 SH   DFND 1, 2, 3, 4 22,618 0 0
COMMUNITY WEST BANCSHARES COM 203937107   937,657 50,739 SH   DFND 1, 2, 3, 4 50,739 0 0
COREBRIDGE FINANCIAL INC COM 21871X109   5,750,633 182,155 SH   DFND 1, 2, 3, 4 182,155 0 0
DEVON ENERGY CORP COM 25179M103   486,200 13,000 SH   DFND 1, 2, 3, 4 13,000 0 0
EMX ROYALTY CORP COM 26873J107   209,906 102,895 SH   DFND 1, 2, 3, 4 102,895 0 0
FIRST SEACOAST BANCORP INC COM 33631F104   1,048,500 90,000 SH   DFND 1, 2, 3, 4 90,000 0 0
GENWORTH FINANCIAL INC COM 37247D106   1,715,780 242,000 SH   DFND 1, 2, 3, 4 242,000 0 0
GRAIL INC COM 384747101   26,179,573 1,025,042 SH   DFND 1, 2, 3, 4 1,025,042 0 0
GREIF INC-CL B COM 397624206   11,680,116 197,033 SH   DFND 1, 2, 3, 4 197,033 0 0
INHIBRX BIOSCIENCES INC COM 45720N103   393,049 28,095 SH   DFND 1, 2, 3, 4 28,095 0 0
JBG SMITH PROPERTIES COM 46590V100   402,750 25,000 SH   DFND 1, 2, 3, 4 25,000 0 0
LENNAR CORP - B SHS COM 526057302   613,955 5,629 SH   DFND 1, 2, 3, 4 5,629 0 0
LIBERTY LATIN AMERIC-CL A COM G9001E102   1,041,165 164,481 SH   DFND 1, 2, 3, 4 164,481 0 0
LIBERTY LATIN AMERIC-CL C COM G9001E128   2,229,688 359,048 SH   DFND 1, 2, 3, 4 359,048 0 0
MARTI TECHNOLOGIES INC COM 573134103   205,111 65,952 SH   DFND 1, 2, 3, 4 65,952 0 0
MGIC INVESTMENT CORP COM 552848103   1,833,720 74,000 SH   DFND 1, 2, 3, 4 74,000 0 0
NI HOLDINGS INC COM 65342T106   732,850 51,392 SH   DFND 1, 2, 3, 4 51,392 0 0
OPPENHEIMER HOLDINGS-CL A COM 683797104   3,279,590 54,999 SH   DFND 1, 2, 3, 4 54,999 0 0
OSISKO DEVELOPMENT CORP COM 68828E809   29,800 20,000 SH   DFND 1, 2, 3, 4 20,000 0 0
PAGSEGURO DIGITAL LTD-CL A COM 00000NANA   1,024,140 39,000 SH   DFND 1, 2, 3, 4 39,000 0 0
SENECA FOODS CORP - CL A COM 817070501   373,078 4,190 SH   DFND 1, 2, 3, 4 4,190 0 0
SENECA FOODS CORP - CL B COM 817070105   572,312 6,303 SH   DFND 1, 2, 3, 4 6,303 0 0
SIRIUSPOINT LTD COM G8192H106   3,704,936 214,282 SH   DFND 1, 2, 3, 4 214,282 0 0
SONIDA SENIOR LIVING INC COM 140475203   7,475,974 320,995 SH   DFND 1, 2, 3, 4 320,995 0 0
STEREOTAXIS INC COM 85916J409   5,022,787 2,853,856 SH   DFND 1, 2, 3, 4 2,853,856 0 0
TEJON RANCH CO COM 879080109   217,811 13,742 SH   DFND 1, 2, 3, 4 13,742 0 0
TRIPLE FLAG PRECIOUS MET COM 89679M104   1,034,100 54,000 SH   DFND 1, 2, 3, 4 54,000 0 0
VERMILION ENERGY INC COM 923725105   1,751,504 216,235 SH   DFND 1, 2, 3, 4 216,235 0 0
NAVIOS MARITIME PARTNERS LP COM 00000NANA   1,024,140 39,000 SH   DFND 1, 2, 3, 4 39,000 0 0
ARBOR REALTY TRUST INC COM 038923108   2,841,150 241,800 SH Put DFND 1, 2, 3, 4 0 0 241,800
TESLA INC COM 88160R101   53,361,044 205,900 SH Put DFND 1, 2, 3, 4 0 0 205,900