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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Qurate Retail Inc Preferred 03 PFD 74915M308 345 3,400 SH   SOLE   3,400 0 0
AGNC Investment Corp PFD 00123q500 403 15,700 SH   SOLE   15,700 0 0
Blueknight Energy Partners 11 PFD 09625u208 2,533 326,375 SH   SOLE   326,375 0 0
Wells Fargo & Company FPP 7.5 PFD 949746804 361 254 SH   SOLE   254 0 0
Abbott Laboratories COM 002824100 180 1,500 SH   SOLE   1,500 0 0
AbbVie Inc COM 00287y109 162 1,500 SH   SOLE   1,500 0 0
Acuity Brands Inc COM 00508y102 3,487 21,134 SH   SOLE   21,134 0 0
Alleghany Corporation COM 017175100 6,929 11,063 SH   SOLE   11,063 0 0
Apex Global Brands Inc COM 03755m300 158 84,971 SH   SOLE   84,971 0 0
Apex Global Brands Inc COM 03755m300 23 12,256 SH   DFND   0 0 12,256
Axalta Coating Systems Ltd COM g0750c108 4,966 167,871 SH   SOLE   167,871 0 0
AZZ Inc COM 002474104 13,708 272,250 SH   SOLE   272,250 0 0
AZZ Inc COM 002474104 5,462 108,475 SH   DFND   0 0 108,475
Berkshire Hathaway Inc CL B COM 084670702 4,586 17,950 SH   SOLE   17,950 0 0
BlackRock TCP Capital Corporation COM 09259E108 194 14,000 SH   SOLE   14,000 0 0
Blueknight Energy Partners L.P COM 09625U109 436 134,503 SH   SOLE   134,503 0 0
Chevron Corporation COM 166764100 105 1,000 SH   SOLE   1,000 0 0
Clean Harbors Inc COM 184496107 2,454 29,192 SH   SOLE   29,192 0 0
CNX Resources Corporation COM 12653C108 6,415 436,400 SH   SOLE   436,400 0 0
CNX Resources Corporation COM 12653C108 3,694 251,300 SH   DFND   0 0 251,300
Colfax Corporation COM 194014106 26,105 595,871 SH   SOLE   595,871 0 0
Colfax Corporation COM 194014106 9,186 209,685 SH   DFND   0 0 209,685
CommVault Systems Inc COM 204166102 11,950 185,275 SH   SOLE   185,275 0 0
CommVault Systems Inc COM 204166102 4,384 67,968 SH   DFND   0 0 67,968
Compass Minerals International COM 20451n101 33,992 541,963 SH   SOLE   541,963 0 0
Compass Minerals International COM 20451n101 11,525 183,749 SH   DFND   0 0 183,749
Contango ORE Inc COM 21077f100 152 8,000 SH   SOLE   8,000 0 0
CTO Realty Growth Inc COM 22948Q101 244 4,700 SH   SOLE   4,700 0 0
Devon Energy Corporation COM 25179M103 886 40,542 SH   SOLE   40,542 0 0
DISH Network Corporation COM 25470M109 2,501 69,100 SH   SOLE   69,100 0 0
DLH Holdings Corporation COM 23335q100 4,513 454,928 SH   SOLE   454,928 0 0
DLH Holdings Corporation COM 23335q100 2,695 271,709 SH   DFND   0 0 271,709
Ducommun Inc COM 264147109 324 5,400 SH   SOLE   5,400 0 0
Ducommun Inc COM 264147109 502 8,372 SH   DFND   0 0 8,372
E.W. Scripps Company COM 811054402 16,138 837,447 SH   SOLE   837,447 0 0
E.W. Scripps Company COM 811054402 6,235 323,569 SH   DFND   0 0 323,569
FMC Corporation COM 302491303 5,062 45,763 SH   SOLE   45,763 0 0
Franco-Nevada Corporation COM 351858105 3,871 30,900 SH   SOLE   30,900 0 0
FRP Holdings Inc COM 30292l107 30 600 SH   SOLE   600 0 0
GCP Applied Technologies Inc COM 36164y101 8,152 332,200 SH   SOLE   332,200 0 0
GCP Applied Technologies Inc COM 36164y101 3,891 158,557 SH   DFND   0 0 158,557
Global Indemnity Group LLC COM 37959r103 3,141 105,960 SH   SOLE   105,960 0 0
GP Strategies Corporation COM 36225v104 23,387 1,340,242 SH   SOLE   1,340,242 0 0
GP Strategies Corporation COM 36225v104 9,111 522,141 SH   DFND   0 0 522,141
Great Elm Group Inc COM 39037G109 3,468 1,421,455 SH   SOLE   1,421,455 0 0
Great Elm Group Inc COM 39037G109 586 240,100 SH   DFND   0 0 240,100
Hallmark Financial Services Inc COM 40624q203 825 212,719 SH   SOLE   212,719 0 0
Henry Schein Inc COM 806407102 5,898 85,187 SH   SOLE   85,187 0 0
Heritage-Crystal Clean Inc COM 42726m106 11,524 424,775 SH   SOLE   424,775 0 0
Heritage-Crystal Clean Inc COM 42726m106 4,716 173,819 SH   DFND   0 0 173,819
Howmet Aerospace Inc COM 443201108 1,231 38,300 SH   SOLE   38,300 0 0
IEH Corporation COM 44949K107 22 1,200 SH   SOLE   1,200 0 0
Issuer Direct Corporation COM 46520m204 29 1,300 SH   SOLE   1,300 0 0
Kar Auction Services Inc COM 48238T109 11,621 774,703 SH   SOLE   774,703 0 0
Kar Auction Services Inc COM 48238T109 4,548 303,200 SH   DFND   0 0 303,200
KBR Inc COM 48242W106 20,328 529,505 SH   SOLE   529,505 0 0
KBR Inc COM 48242W106 8,764 228,276 SH   DFND   0 0 228,276
Landec Corporation COM 514766104 12,671 1,195,424 SH   SOLE   1,195,424 0 0
Landec Corporation COM 514766104 5,127 483,714 SH   DFND   0 0 483,714
LGL Group Inc COM 50186A108 25 2,300 SH   SOLE   2,300 0 0
Liberty Media Acquisition Corp COM 53073L104 307 30,400 SH   SOLE   30,400 0 0
Liberty SiriusXM Group - A COM 531229409 8,049 182,595 SH   SOLE   182,595 0 0
Liberty SiriusXM Group - C COM 531229607 195 4,432 SH   SOLE   4,432 0 0
Liberty TripAdvisor Holdings Inc COM 531465102 4,991 782,300 SH   SOLE   782,300 0 0
Liberty TripAdvisor Holdings Inc COM 531465102 2,285 358,129 SH   DFND   0 0 358,129
Lumen Technologies Inc COM 550241103 19,787 1,482,173 SH   SOLE   1,482,173 0 0
Macquarie Infrastructure Corpo COM 55608b105 22 701 SH   SOLE   701 0 0
Mcdermott International Ltd COM G5924V106 24 30,000 SH   SOLE   30,000 0 0
Millicom International Cellula COM l6388f110 27,188 711,541 SH   SOLE   711,541 0 0
Millicom International Cellula COM l6388f110 9,734 254,755 SH   DFND   0 0 254,755
MSC Industrial Direct Co Inc COM 553530106 1,192 13,212 SH   SOLE   13,212 0 0
Mueller Water Products Inc A COM 624758108 1,257 90,470 SH   SOLE   90,470 0 0
Northern Technologies Internat COM 665809109 24 1,600 SH   SOLE   1,600 0 0
Nuvera Communications Inc COM 67075V100 35 1,500 SH   SOLE   1,500 0 0
Overseas Shipholding Group Inc COM 69036R863 49 24,000 SH   SOLE   24,000 0 0
PHI Group Inc COM 69360b104 5 382 SH   SOLE   382 0 0
Phibro Animal Health Corporation COM 71742q106 11,699 479,455 SH   SOLE   479,455 0 0
Phibro Animal Health Corporation COM 71742q106 5,382 220,577 SH   DFND   0 0 220,577
Philip Morris International In COM 718172109 669 7,540 SH   SOLE   7,540 0 0
PQ Group Holdings Inc COM 73943t103 24,491 1,466,499 SH   SOLE   1,466,499 0 0
PQ Group Holdings Inc COM 73943t103 9,214 551,709 SH   DFND   0 0 551,709
Quipt Home Medical Corporation COM 74880P104 73 37,700 SH   SOLE   37,700 0 0
Research Solutions Inc COM 761025105 2,704 1,165,610 SH   SOLE   1,165,610 0 0
Research Solutions Inc COM 761025105 1,785 769,304 SH   DFND   0 0 769,304
Rexnord Corporation COM 76169B102 1,143 24,266 SH   SOLE   24,266 0 0
Sandstorm Gold Ltd COM 80013R206 5,514 810,824 SH   SOLE   810,824 0 0
Sandstorm Gold Ltd COM 80013R206 2,486 365,600 SH   DFND   0 0 365,600
SecureWorks Corporation COM 81374A105 4,878 364,552 SH   SOLE   364,552 0 0
SecureWorks Corporation COM 81374A105 2,477 185,090 SH   DFND   0 0 185,090
Sensata Technologies Holding COM G8060N102 1,710 29,502 SH   SOLE   29,502 0 0
Six Flags Entertainment Corporation COM 83001a102 11,509 247,670 SH   SOLE   247,670 0 0
Six Flags Entertainment Corporation COM 83001a102 4,466 96,099 SH   DFND   0 0 96,099
Skechers U.S.A. Inc CL A COM 830566105 17,135 410,813 SH   SOLE   410,813 0 0
Skechers U.S.A. Inc CL A COM 830566105 7,191 172,403 SH   DFND   0 0 172,403
Spectrum Brands Holdings Inc COM 84790a105 1,215 14,300 SH   SOLE   14,300 0 0
Standex International Corporation COM 854231107 9,464 99,030 SH   SOLE   99,030 0 0
Standex International Corporation COM 854231107 4,261 44,589 SH   DFND   0 0 44,589
Star Group L.P. COM 85512c105 747 70,530 SH   SOLE   70,530 0 0
StoneX Group Inc COM 861896108 16,043 245,385 SH   SOLE   245,385 0 0
StoneX Group Inc COM 861896108 7,440 113,793 SH   DFND   0 0 113,793
Tapestry Inc COM 876030107 2,809 68,167 SH   SOLE   68,167 0 0
TEGNA Inc COM 87901j105 4,789 254,328 SH   SOLE   254,328 0 0
TEGNA Inc COM 87901j105 1,287 68,343 SH   DFND   0 0 68,343
The Bank of New York Mellon Co COM 064058100 1,784 37,715 SH   SOLE   37,715 0 0
The Monarch Cement Company COM 609031307 52 500 SH   SOLE   500 0 0
The Williams Companies Inc COM 969457100 227 9,570 SH   SOLE   9,570 0 0
Transcat Inc COM 893529107 4,016 81,835 SH   SOLE   81,835 0 0
Transcat Inc COM 893529107 1,946 39,643 SH   DFND   0 0 39,643
UFP Technologies Inc COM 902673102 7,068 141,875 SH   SOLE   141,875 0 0
UFP Technologies Inc COM 902673102 3,469 69,627 SH   DFND   0 0 69,627
Viasat Inc COM 92552v100 37,646 783,148 SH   SOLE   783,148 0 0
Viasat Inc COM 92552v100 12,961 269,636 SH   DFND   0 0 269,636
Viemed Healthcare Inc COM 92663r105 14,087 1,391,986 SH   SOLE   1,391,986 0 0
Viemed Healthcare Inc COM 92663r105 5,315 525,212 SH   DFND   0 0 525,212
Wayside Technology Group Inc COM 946760105 3,045 121,139 SH   SOLE   121,139 0 0
Wayside Technology Group Inc COM 946760105 988 39,300 SH   DFND   0 0 39,300
Wells Fargo & Company COM 949746101 4,001 102,400 SH   SOLE   102,400 0 0
Western Union Company COM 959802109 1,182 47,944 SH   SOLE   47,944 0 0
White Mountains Insurance Group COM g9618e107 17,804 15,969 SH   SOLE   15,969 0 0
White Mountains Insurance Group COM g9618e107 8,363 7,501 SH   DFND   0 0 7,501