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 409 15,700 SH   SOLE   15,700 0 0
Blueknight Energy Partners 11 PFD 09625u208 2,510 308,000 SH   SOLE   308,000 0 0
Wells Fargo & Company FPP 7.5 PFD 949746804 376 254 SH   SOLE   254 0 0
Abbott Laboratories COM 002824100 154 1,300 SH   SOLE   1,300 0 0
AbbVie Inc COM 00287y109 140 1,300 SH   SOLE   1,300 0 0
Alleghany Corporation COM 017175100 6,375 10,209 SH   SOLE   10,209 0 0
Apex Escrow Note COM 8amcsg732 413 14,870 SH   SOLE   14,870 0 0
Astronics Corporation COM 046433108 4,561 324,384 SH   SOLE   324,384 0 0
Astronics Corporation COM 046433108 2,936 208,808 SH   DFND   0 0 208,808
Avanos Medical Inc COM 05350v106 207 6,648 SH   SOLE   6,648 0 0
Axalta Coating Systems Ltd COM g0750c108 5,222 178,897 SH   SOLE   178,897 0 0
AZZ Inc COM 002474104 12,544 235,796 SH   SOLE   235,796 0 0
AZZ Inc COM 002474104 5,271 99,075 SH   DFND   0 0 99,075
Berkshire Hathaway Inc CL B COM 084670702 4,408 16,150 SH   SOLE   16,150 0 0
BlackRock TCP Capital Corporation COM 09259E108 190 14,000 SH   SOLE   14,000 0 0
Blueknight Energy Partners L.P COM 09625U109 2,326 762,672 SH   SOLE   762,672 0 0
Chase Corporation COM 16150r104 4,169 40,816 SH   SOLE   40,816 0 0
Chase Corporation COM 16150r104 1,941 19,000 SH   DFND   0 0 19,000
Chevron Corporation COM 166764100 101 1,000 SH   SOLE   1,000 0 0
Clean Harbors Inc COM 184496107 2,737 26,350 SH   SOLE   26,350 0 0
CNX Resources Corporation COM 12653C108 5,196 411,700 SH   SOLE   411,700 0 0
CNX Resources Corporation COM 12653C108 3,988 316,000 SH   DFND   0 0 316,000
Colfax Corporation COM 194014106 22,837 497,532 SH   SOLE   497,532 0 0
Colfax Corporation COM 194014106 8,789 191,485 SH   DFND   0 0 191,485
Commvault Systems Inc COM 204166102 10,685 141,875 SH   SOLE   141,875 0 0
Commvault Systems Inc COM 204166102 4,305 57,168 SH   DFND   0 0 57,168
Compass Minerals International COM 20451n101 25,413 394,605 SH   SOLE   394,605 0 0
Compass Minerals International COM 20451n101 10,223 158,749 SH   DFND   0 0 158,749
Contango ORE Inc COM 21077f100 153 7,661 SH   SOLE   7,661 0 0
CTO Realty Growth Inc COM 22948Q101 301 5,603 SH   SOLE   5,603 0 0
Devon Energy Corporation COM 25179M103 1,139 32,083 SH   SOLE   32,083 0 0
Discovery Inc CL A COM 25470F104 1,903 75,000 SH   SOLE   75,000 0 0
DISH Network Corporation COM 25470M109 3,003 69,100 SH   SOLE   69,100 0 0
DLH Holdings Corporation COM 23335q100 6,238 507,154 SH   SOLE   507,154 0 0
DLH Holdings Corporation COM 23335q100 3,522 286,309 SH   DFND   0 0 286,309
Ducommun Inc COM 264147109 3,290 65,336 SH   SOLE   65,336 0 0
Ducommun Inc COM 264147109 2,161 42,914 SH   DFND   0 0 42,914
E.W. Scripps Company COM 811054402 13,698 758,447 SH   SOLE   758,447 0 0
E.W. Scripps Company COM 811054402 6,095 337,469 SH   DFND   0 0 337,469
Ecovyst Inc COM 27923Q109 24,474 2,098,931 SH   SOLE   2,098,931 0 0
Ecovyst Inc COM 27923Q109 9,235 792,040 SH   DFND   0 0 792,040
FMC Corporation COM 302491303 5,250 57,337 SH   SOLE   57,337 0 0
Franco-Nevada Corporation COM 351858105 3,897 30,000 SH   SOLE   30,000 0 0
FRP Holdings Inc COM 30292l107 34 600 SH   SOLE   600 0 0
GCP Applied Technologies Inc COM 36164y101 7,082 323,100 SH   SOLE   323,100 0 0
GCP Applied Technologies Inc COM 36164y101 4,376 199,640 SH   DFND   0 0 199,640
Global Indemnity Group LLC COM 37959r103 4,410 161,831 SH   SOLE   161,831 0 0
GP Strategies Corporation COM 36225v104 5,404 261,067 SH   SOLE   261,067 0 0
Great Elm Capital Corporation COM 390320109 235 67,400 SH   SOLE   67,400 0 0
Great Elm Group Inc COM 39037G109 2,253 1,005,585 SH   SOLE   1,005,585 0 0
Great Elm Group Inc COM 39037G109 1,516 676,700 SH   DFND   0 0 676,700
Hallador Energy Company COM 40609P105 61 20,700 SH   SOLE   20,700 0 0
Henry Schein Inc COM 806407102 5,850 76,807 SH   SOLE   76,807 0 0
Heritage-Crystal Clean Inc COM 42726m106 10,657 367,733 SH   SOLE   367,733 0 0
Heritage-Crystal Clean Inc COM 42726m106 5,238 180,740 SH   DFND   0 0 180,740
Howmet Aerospace Inc COM 443201108 1,359 43,572 SH   SOLE   43,572 0 0
IEH Corporation COM 44949K107 1,103 91,900 SH   SOLE   91,900 0 0
Issuer Direct Corporation COM 46520m204 34 1,300 SH   SOLE   1,300 0 0
KBR Inc COM 48242W106 14,676 372,485 SH   SOLE   372,485 0 0
KBR Inc COM 48242W106 6,060 153,800 SH   DFND   0 0 153,800
Landec Corporation COM 514766104 11,378 1,234,017 SH   SOLE   1,234,017 0 0
Landec Corporation COM 514766104 5,343 579,536 SH   DFND   0 0 579,536
LGL Group Inc COM 50186A108 32 2,300 SH   SOLE   2,300 0 0
Liberty Media Acquisition Corp COM 53073L104 6,258 620,834 SH   SOLE   620,834 0 0
Liberty Media Acquisition Corp COM 53073L104 4,198 416,500 SH   DFND   0 0 416,500
Liberty SiriusXM Group - A COM 531229409 9,180 194,623 SH   SOLE   194,623 0 0
Liberty TripAdvisor Holdings Inc COM 531465102 3,420 1,106,700 SH   SOLE   1,106,700 0 0
Liberty TripAdvisor Holdings Inc COM 531465102 2,304 745,557 SH   DFND   0 0 745,557
Lions Gate Entertainment Corporation COM 535919500 27,012 2,077,823 SH   SOLE   2,077,823 0 0
Lions Gate Entertainment Corporation COM 535919500 9,924 763,400 SH   DFND   0 0 763,400
Lumen Technologies Inc COM 550241103 13,375 1,079,466 SH   SOLE   1,079,466 0 0
McDermott International Ltd COM G5924V106 15 30,000 SH   SOLE   30,000 0 0
Millicom International Cellular COM l6388f110 19,282 533,395 SH   SOLE   533,395 0 0
Millicom International Cellular COM l6388f110 7,713 213,355 SH   DFND   0 0 213,355
MSC Industrial Direct Co Inc COM 553530106 1,059 13,208 SH   SOLE   13,208 0 0
Mueller Water Products Inc A COM 624758108 1,133 74,418 SH   SOLE   74,418 0 0
NewMarket Corporation COM 651587107 14,500 42,803 SH   SOLE   42,803 0 0
NewMarket Corporation COM 651587107 7,235 21,357 SH   DFND   0 0 21,357
Northern Technologies International COM 665809109 24 1,600 SH   SOLE   1,600 0 0
Nuvera Communications Inc COM 67075V100 33 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 696 32,300 SH   SOLE   32,300 0 0
Phibro Animal Health Corporation COM 71742q106 1,281 59,461 SH   DFND   0 0 59,461
Philip Morris International Inc COM 718172109 506 5,340 SH   SOLE   5,340 0 0
Research Solutions Inc COM 761025105 3,684 1,406,010 SH   SOLE   1,406,010 0 0
Research Solutions Inc COM 761025105 2,500 954,353 SH   DFND   0 0 954,353
Rexnord Corporation COM 76169B102 1,530 23,797 SH   SOLE   23,797 0 0
Sandstorm Gold Ltd COM 80013R206 2,990 519,100 SH   SOLE   519,100 0 0
Sandstorm Gold Ltd COM 80013R206 2,204 382,600 SH   DFND   0 0 382,600
SecureWorks Corporation COM 81374A105 9,750 490,435 SH   SOLE   490,435 0 0
SecureWorks Corporation COM 81374A105 4,780 240,422 SH   DFND   0 0 240,422
Sensata Technologies Holding COM G8060N102 1,880 34,350 SH   SOLE   34,350 0 0
Six Flags Entertainment Corporation COM 83001a102 9,910 233,170 SH   SOLE   233,170 0 0
Six Flags Entertainment Corporation COM 83001a102 4,407 103,699 SH   DFND   0 0 103,699
Skechers U.S.A. Inc CL A COM 830566105 7,308 173,514 SH   SOLE   173,514 0 0
Skechers U.S.A. Inc CL A COM 830566105 4,002 95,003 SH   DFND   0 0 95,003
Spectrum Brands Holdings Inc COM 84790a105 1,494 15,621 SH   SOLE   15,621 0 0
Spok Holdings Inc COM 84863T106 90 8,800 SH   SOLE   8,800 0 0
Standex International Corporation COM 854231107 9,043 91,430 SH   SOLE   91,430 0 0
Standex International Corporation COM 854231107 4,410 44,589 SH   DFND   0 0 44,589
Star Group L.P. COM 85512c105 690 67,700 SH   SOLE   67,700 0 0
StoneX Group Inc COM 861896108 13,054 198,086 SH   SOLE   198,086 0 0
StoneX Group Inc COM 861896108 6,906 104,793 SH   DFND   0 0 104,793
Table Trac Inc COM 87336P106 27 8,000 SH   SOLE   8,000 0 0
Tapestry Inc COM 876030107 1,377 37,183 SH   SOLE   37,183 0 0
TEGNA Inc COM 87901j105 10,077 510,995 SH   SOLE   510,995 0 0
TEGNA Inc COM 87901j105 5,009 254,000 SH   DFND   0 0 254,000
The Bank of New York Mellon Co COM 064058100 1,955 37,715 SH   SOLE   37,715 0 0
The Eastern Company COM 276317104 65 2,600 SH   SOLE   2,600 0 0
The Monarch Cement Company COM 609031307 44 400 SH   SOLE   400 0 0
Tiptree Inc COM 88822Q103 3,261 325,478 SH   SOLE   325,478 0 0
Tiptree Inc COM 88822Q103 1,258 125,504 SH   DFND   0 0 125,504
UFP Technologies Inc COM 902673102 7,363 119,555 SH   SOLE   119,555 0 0
UFP Technologies Inc COM 902673102 3,851 62,527 SH   DFND   0 0 62,527
Viasat Inc COM 92552v100 37,218 675,827 SH   SOLE   675,827 0 0
Viasat Inc COM 92552v100 14,849 269,636 SH   DFND   0 0 269,636
Viemed Healthcare Inc COM 92663r105 5,811 1,046,946 SH   SOLE   1,046,946 0 0
Viemed Healthcare Inc COM 92663r105 3,346 602,812 SH   DFND   0 0 602,812
Wayside Technology Group Inc COM 946760105 6,796 252,549 SH   SOLE   252,549 0 0
Wayside Technology Group Inc COM 946760105 3,578 132,976 SH   DFND   0 0 132,976
Wells Fargo & Company COM 949746101 3,764 81,100 SH   SOLE   81,100 0 0
Western Union Company COM 959802109 1,283 63,448 SH   SOLE   63,448 0 0
White Mountains Insurance Group COM g9618e107 15,577 14,563 SH   SOLE   14,563 0 0
White Mountains Insurance Group COM g9618e107 7,352 6,874 SH   DFND   0 0 6,874