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 357 3,300 SH   SOLE   3,300 0 0
AGNC Investment Corp 7 PFD 00123q500 416 15,700 SH   SOLE   15,700 0 0
Blueknight Energy Partners 11 PFD 09625u208 2,652 324,657 SH   SOLE   324,657 0 0
Wells Fargo & Company FPP 7.5 PFD 949746804 387 254 SH   SOLE   254 0 0
Abbott Laboratories COM 002824100 151 1,300 SH   SOLE   1,300 0 0
AbbVie Inc COM 00287y109 146 1,300 SH   SOLE   1,300 0 0
Acuity Brands Inc COM 00508y102 1,282 6,855 SH   SOLE   6,855 0 0
Alleghany Corporation COM 017175100 6,860 10,284 SH   SOLE   10,284 0 0
Apex Escrow Note COM 8amcsg732 743 14,870 SH   SOLE   14,870 0 0
Astronics Corporation COM 046433108 7,813 446,184 SH   SOLE   446,184 0 0
Astronics Corporation COM 046433108 3,686 210,527 SH   DFND   0 0 210,527
Axalta Coating Systems Ltd COM g0750c108 5,499 180,344 SH   SOLE   180,344 0 0
AZZ Inc COM 002474104 12,644 244,196 SH   SOLE   244,196 0 0
AZZ Inc COM 002474104 5,130 99,075 SH   DFND   0 0 99,075
Berkshire Hathaway Inc CL B COM 084670702 4,488 16,150 SH   SOLE   16,150 0 0
BlackRock TCP Capital Corporat COM 09259E108 193 14,000 SH   SOLE   14,000 0 0
Blueknight Energy Partners L.P COM 09625U109 2,646 700,000 SH   SOLE   700,000 0 0
Chase Corporation COM 16150r104 4,147 40,416 SH   SOLE   40,416 0 0
Chase Corporation COM 16150r104 1,950 19,000 SH   DFND   0 0 19,000
Chevron Corporation COM 166764100 105 1,000 SH   SOLE   1,000 0 0
Clean Harbors Inc COM 184496107 2,773 29,773 SH   SOLE   29,773 0 0
CNX Resources Corporation COM 12653C108 5,792 424,000 SH   SOLE   424,000 0 0
CNX Resources Corporation COM 12653C108 3,869 283,200 SH   DFND   0 0 283,200
Colfax Corporation COM 194014106 23,129 504,882 SH   SOLE   504,882 0 0
Colfax Corporation COM 194014106 9,381 204,785 SH   DFND   0 0 204,785
Commvault Systems Inc COM 204166102 11,270 144,175 SH   SOLE   144,175 0 0
Commvault Systems Inc COM 204166102 4,469 57,168 SH   DFND   0 0 57,168
Compass Minerals International COM 20451n101 25,431 429,137 SH   SOLE   429,137 0 0
Compass Minerals International COM 20451n101 10,320 174,149 SH   DFND   0 0 174,149
Contango ORE Inc COM 21077f100 163 8,000 SH   SOLE   8,000 0 0
CTO Realty Growth Inc COM 22948Q101 300 5,603 SH   SOLE   5,603 0 0
Devon Energy Corporation COM 25179M103 937 32,083 SH   SOLE   32,083 0 0
Discovery Inc CL A COM 25470F104 2,681 87,400 SH   SOLE   87,400 0 0
DISH Network Corporation COM 25470M109 2,888 69,100 SH   SOLE   69,100 0 0
DLH Holdings Corporation COM 23335q100 5,556 475,724 SH   SOLE   475,724 0 0
DLH Holdings Corporation COM 23335q100 3,274 280,309 SH   DFND   0 0 280,309
Ducommun Inc COM 264147109 38 700 SH   SOLE   700 0 0
E.W. Scripps Company COM 811054402 15,320 751,347 SH   SOLE   751,347 0 0
E.W. Scripps Company COM 811054402 6,418 314,769 SH   DFND   0 0 314,769
FMC Corporation COM 302491303 5,196 48,018 SH   SOLE   48,018 0 0
Franco-Nevada Corporation COM 351858105 4,352 30,000 SH   SOLE   30,000 0 0
FRP Holdings Inc COM 30292l107 33 600 SH   SOLE   600 0 0
GCP Applied Technologies Inc COM 36164y101 6,790 291,923 SH   SOLE   291,923 0 0
GCP Applied Technologies Inc COM 36164y101 4,383 188,440 SH   DFND   0 0 188,440
Global Indemnity Group LLC COM 37959r103 4,380 162,531 SH   SOLE   162,531 0 0
GP Strategies Corporation COM 36225v104 18,213 1,158,575 SH   SOLE   1,158,575 0 0
GP Strategies Corporation COM 36225v104 7,396 470,500 SH   DFND   0 0 470,500
Great Elm Capital Corporation COM 390320109 237 67,400 SH   SOLE   67,400 0 0
Great Elm Group Inc COM 39037G109 3,011 1,338,195 SH   SOLE   1,338,195 0 0
Great Elm Group Inc COM 39037G109 792 352,000 SH   DFND   0 0 352,000
Henry Schein Inc COM 806407102 6,055 81,611 SH   SOLE   81,611 0 0
Heritage-Crystal Clean Inc COM 42726m106 10,935 368,441 SH   SOLE   368,441 0 0
Heritage-Crystal Clean Inc COM 42726m106 5,159 173,819 SH   DFND   0 0 173,819
Howmet Aerospace Inc COM 443201108 1,523 44,196 SH   SOLE   44,196 0 0
IEH Corporation COM 44949K107 30 1,900 SH   SOLE   1,900 0 0
Issuer Direct Corporation COM 46520m204 35 1,300 SH   SOLE   1,300 0 0
Kar Auction Services Inc COM 48238T109 11,183 637,202 SH   SOLE   637,202 0 0
Kar Auction Services Inc COM 48238T109 5,021 286,100 SH   DFND   0 0 286,100
KBR Inc COM 48242W106 14,652 384,065 SH   SOLE   384,065 0 0
KBR Inc COM 48242W106 6,287 164,800 SH   DFND   0 0 164,800
Landec Corporation COM 514766104 13,646 1,213,008 SH   SOLE   1,213,008 0 0
Landec Corporation COM 514766104 6,520 579,536 SH   DFND   0 0 579,536
LGL Group Inc COM 50186A108 24 2,300 SH   SOLE   2,300 0 0
Liberty Media Acquisition Corporation COM 53073L104 5,790 568,800 SH   SOLE   568,800 0 0
Liberty Media Acquisition Corporation COM 53073L104 3,787 372,000 SH   DFND   0 0 372,000
Liberty SiriusXM Group - A COM 531229409 9,143 196,281 SH   SOLE   196,281 0 0
Liberty SiriusXM Group - C COM 531229607 206 4,432 SH   SOLE   4,432 0 0
Liberty TripAdvisor Holdings Inc COM 531465102 3,033 745,100 SH   SOLE   745,100 0 0
Liberty TripAdvisor Holdings Inc COM 531465102 1,458 358,129 SH   DFND   0 0 358,129
Lumen Technologies Inc COM 550241103 13,901 1,022,885 SH   SOLE   1,022,885 0 0
Mcdermott International Ltd COM G5924V106 14 30,000 SH   SOLE   30,000 0 0
Meredith Corporation COM 589433101 243 5,600 SH   SOLE   5,600 0 0
Millicom International Cellular COM l6388f110 23,301 588,851 SH   SOLE   588,851 0 0
Millicom International Cellular COM l6388f110 8,442 213,355 SH   DFND   0 0 213,355
MSC Industrial Direct Co Inc COM 553530106 1,194 13,305 SH   SOLE   13,305 0 0
Mueller Water Products Inc A COM 624758108 1,317 91,345 SH   SOLE   91,345 0 0
Newmarket Corp COM 651587107 8,827 27,415 SH   SOLE   27,415 0 0
Newmarket Corp COM 651587107 4,701 14,600 SH   DFND   0 0 14,600
Northern Technologies International COM 665809109 28 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 27 12,900 SH   SOLE   12,900 0 0
Phibro Animal Health Corporation COM 71742q106 2,962 102,552 SH   SOLE   102,552 0 0
Phibro Animal Health Corporation COM 71742q106 3,201 110,825 SH   DFND   0 0 110,825
Philip Morris International Inc COM 718172109 529 5,340 SH   SOLE   5,340 0 0
PQ Group Holdings Inc COM 73943t103 34,076 2,218,467 SH   SOLE   2,218,467 0 0
PQ Group Holdings Inc COM 73943t103 12,699 826,740 SH   DFND   0 0 826,740
Research Solutions Inc COM 761025105 3,707 1,296,110 SH   SOLE   1,296,110 0 0
Research Solutions Inc COM 761025105 2,287 799,504 SH   DFND   0 0 799,504
Rexnord Corporation COM 76169B102 1,223 24,440 SH   SOLE   24,440 0 0
Sandstorm Gold Ltd COM 80013R206 5,650 716,100 SH   SOLE   716,100 0 0
Sandstorm Gold Ltd COM 80013R206 3,019 382,600 SH   DFND   0 0 382,600
SecureWorks Corporation COM 81374A105 8,578 462,935 SH   SOLE   462,935 0 0
SecureWorks Corporation COM 81374A105 4,092 220,805 SH   DFND   0 0 220,805
Sensata Technologies Holding COM G8060N102 1,915 33,035 SH   SOLE   33,035 0 0
Six Flags Entertainment Corporation COM 83001a102 9,893 228,570 SH   SOLE   228,570 0 0
Six Flags Entertainment Corporation COM 83001a102 4,488 103,699 SH   DFND   0 0 103,699
Skechers U.S.A. Inc CL A COM 830566105 9,650 193,653 SH   SOLE   193,653 0 0
Skechers U.S.A. Inc CL A COM 830566105 4,839 97,103 SH   DFND   0 0 97,103
Spectrum Brands Holdings Inc COM 84790a105 1,469 17,274 SH   SOLE   17,274 0 0
Standex International Corporation COM 854231107 8,829 93,030 SH   SOLE   93,030 0 0
Standex International Corporation COM 854231107 4,232 44,589 SH   DFND   0 0 44,589
Star Group L.P. COM 85512c105 758 67,700 SH   SOLE   67,700 0 0
StoneX Group Inc COM 861896108 12,297 202,686 SH   SOLE   202,686 0 0
StoneX Group Inc COM 861896108 6,449 106,293 SH   DFND   0 0 106,293
Tapestry Inc COM 876030107 1,641 37,738 SH   SOLE   37,738 0 0
TEGNA Inc COM 87901j105 11,417 608,601 SH   SOLE   608,601 0 0
TEGNA Inc COM 87901j105 4,045 215,600 SH   DFND   0 0 215,600
The Bank of New York Mellon Co COM 064058100 1,932 37,715 SH   SOLE   37,715 0 0
The Monarch Cement Company COM 609031307 56 500 SH   SOLE   500 0 0
Tiptree Inc COM 88822Q103 1,505 161,778 SH   SOLE   161,778 0 0
Tiptree Inc COM 88822Q103 661 71,100 SH   DFND   0 0 71,100
UFP Technologies Inc COM 902673102 7,333 127,710 SH   SOLE   127,710 0 0
UFP Technologies Inc COM 902673102 3,998 69,627 SH   DFND   0 0 69,627
Viasat Inc COM 92552v100 37,962 761,673 SH   SOLE   761,673 0 0
Viasat Inc COM 92552v100 13,439 269,636 SH   DFND   0 0 269,636
Viemed Healthcare Inc COM 92663r105 8,268 1,156,420 SH   SOLE   1,156,420 0 0
Viemed Healthcare Inc COM 92663r105 4,310 602,812 SH   DFND   0 0 602,812
Wayside Technology Group Inc COM 946760105 3,661 146,199 SH   SOLE   146,199 0 0
Wayside Technology Group Inc COM 946760105 1,725 68,876 SH   DFND   0 0 68,876
Wells Fargo & Company COM 949746101 3,673 81,100 SH   SOLE   81,100 0 0
Western Union Company COM 959802109 1,398 60,870 SH   SOLE   60,870 0 0
White Mountains Insurance Group COM g9618e107 12,351 10,758 SH   SOLE   10,758 0 0
White Mountains Insurance Group COM g9618e107 8,037 7,001 SH   DFND   0 0 7,001