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
Qurate Retail Inc Preferred PFD 74915M308   31 900 SH   SOLE   900 0 0
AGNC Investment Corp PFD 00123q500   347 14,000 SH   SOLE   14,000 0 0
Wells Fargo & Company FPP PFD 949746804   261 220 SH   SOLE   220 0 0
Abbott Laboratories COM 002824100   110 1,000 SH   SOLE   1,000 0 0
AbbVie Inc COM 00287y109   162 1,000 SH   SOLE   1,000 0 0
ALJ Regional Holdings Inc COM 001627108   8 4,158 SH   SOLE   4,158 0 0
Axalta Coating Systems Ltd COM g0750c108   4,361 171,208 SH   SOLE   171,208 0 0
Berkshire Hathaway Inc CL B COM 084670702   3,599 11,650 SH   SOLE   11,650 0 0
BlackRock TCP Capital Corporation COM 09259E108   38 2,900 SH   SOLE   2,900 0 0
Butler National Corporation COM 123720104   2 3,000 SH   SOLE   3,000 0 0
CarGurus Inc COM 141788109   1,012 72,200 SH   SOLE   72,200 0 0
CarGurus Inc COM 141788109   1,054 75,200 SH   DFND   0 0 75,200
Chase Corporation COM 16150r104   2,939 34,067 SH   SOLE   34,067 0 0
Chase Corporation COM 16150r104   1,769 20,503 SH   DFND   0 0 20,503
Chevron Corporation COM 166764100   179 1,000 SH   SOLE   1,000 0 0
Clean Harbors Inc COM 184496107   2,542 22,272 SH   SOLE   22,272 0 0
Climb Global Solutions Inc COM 946760105   5,340 169,352 SH   SOLE   169,352 0 0
Climb Global Solutions Inc COM 946760105   4,261 135,144 SH   DFND   0 0 135,144
CNX Resources Corporation COM 12653C108   3,651 216,800 SH   SOLE   216,800 0 0
CNX Resources Corporation COM 12653C108   3,297 195,800 SH   DFND   0 0 195,800
Commvault Systems Inc COM 204166102   5,794 92,200 SH   SOLE   92,200 0 0
Commvault Systems Inc COM 204166102   2,923 46,518 SH   DFND   0 0 46,518
Compass Minerals International COM 20451n101   13,449 328,015 SH   SOLE   328,015 0 0
Compass Minerals International COM 20451n101   7,166 174,789 SH   DFND   0 0 174,789
CTO Realty Growth Inc COM 22948Q101   325 17,784 SH   SOLE   17,784 0 0
Devon Energy Corporation COM 25179M103   1,281 20,834 SH   SOLE   20,834 0 0
DISH Network Corporation COM 25470M109   397 28,300 SH   SOLE   28,300 0 0
DLH Holdings Corporation COM 23335q100   3,322 279,962 SH   SOLE   279,962 0 0
DLH Holdings Corporation COM 23335q100   2,409 203,039 SH   DFND   0 0 203,039
Ducommun Inc COM 264147109   4,193 83,925 SH   SOLE   83,925 0 0
Ducommun Inc COM 264147109   3,914 78,335 SH   DFND   0 0 78,335
E.W. Scripps Company COM 811054402   8,177 619,955 SH   SOLE   619,955 0 0
E.W. Scripps Company COM 811054402   4,395 333,174 SH   DFND   0 0 333,174
Ecovyst Inc COM 27923Q109   17,060 1,925,505 SH   SOLE   1,925,505 0 0
Ecovyst Inc COM 27923Q109   8,256 931,780 SH   DFND   0 0 931,780
Element Solutions Inc COM 28618M106   1,029 56,550 SH   SOLE   56,550 0 0
Enovis Corporation COM 194014502   8,150 152,277 SH   SOLE   152,277 0 0
Enovis Corporation COM 194014502   3,098 57,894 SH   DFND   0 0 57,894
FMC Corporation COM 302491303   5,339 42,781 SH   SOLE   42,781 0 0
Franco-Nevada Corporation COM 351858105   3,262 23,900 SH   SOLE   23,900 0 0
Global Indemnity Group LLC COM 37959r103   1,870 80,235 SH   SOLE   80,235 0 0
Great Elm Group Inc COM 39037G109   778 385,078 SH   SOLE   385,078 0 0
Great Elm Group Inc COM 39037G109   1,044 516,700 SH   DFND   0 0 516,700
GXO Logistics Inc COM 36262g101   1,136 26,620 SH   SOLE   26,620 0 0
Hallador Energy Company COM 40609P105   5,624 562,993 SH   SOLE   562,993 0 0
Hallador Energy Company COM 40609P105   2,082 208,385 SH   DFND   0 0 208,385
Hamilton Thorne Ltd COM 407891100   13 10,564 SH   SOLE   10,564 0 0
Henry Schein Inc COM 806407102   1,177 14,741 SH   SOLE   14,741 0 0
Heritage-Crystal Clean Inc COM 42726m106   7,174 220,868 SH   SOLE   220,868 0 0
Heritage-Crystal Clean Inc COM 42726m106   5,543 170,665 SH   DFND   0 0 170,665
Howmet Aerospace Inc COM 443201108   1,462 37,103 SH   SOLE   37,103 0 0
IAC InterActive Corporation COM 44891N208   7,209 162,361 SH   SOLE   162,361 0 0
IAC InterActive Corporation COM 44891N208   2,975 67,000 SH   DFND   0 0 67,000
IEH Corporation COM 44949K107   580 89,200 SH   SOLE   89,200 0 0
InfuSystems Holdings Inc COM 45685K102   2,468 284,367 SH   SOLE   284,367 0 0
InfuSystems Holdings Inc COM 45685K102   2,372 273,275 SH   DFND   0 0 273,275
Innovative Solutions COM 45769N105   8 1,031 SH   SOLE   1,031 0 0
IPG Photonics Corporation COM 44980X109   338 3,573 SH   SOLE   3,573 0 0
Issuer Direct Corporation COM 46520m204   7 264 SH   SOLE   264 0 0
KBR Inc COM 48242W106   9,496 179,841 SH   SOLE   179,841 0 0
KBR Inc COM 48242W106   4,367 82,700 SH   DFND   0 0 82,700
Kinder Morgan Inc COM 49456B101   325 18,000 SH   SOLE   18,000 0 0
Liberty SiriusXM Group - A COM 531229409   5,361 136,386 SH   SOLE   136,386 0 0
Liberty TripAdvisor Holdings Inc COM 531465102   1,565 2,337,390 SH   SOLE   2,337,390 0 0
Liberty TripAdvisor Holdings Inc COM 531465102   1,025 1,530,037 SH   DFND   0 0 1,530,037
Lifecore Biomedical COM 514766104   8,659 1,336,201 SH   SOLE   1,336,201 0 0
Lifecore Biomedical COM 514766104   3,953 609,993 SH   DFND   0 0 609,993
Lions Gate Entertainment Corporation COM 535919500   4,357 802,425 SH   SOLE   802,425 0 0
Lions Gate Entertainment Corporation COM 535919500   2,964 545,800 SH   DFND   0 0 545,800
Littelfuse Inc COM 537008104   962 4,368 SH   SOLE   4,368 0 0
Lumen Technologies Inc COM 550241103   744 142,609 SH   SOLE   142,609 0 0
Millicom International Cellular COM l6388f110   4,680 370,513 SH   SOLE   370,513 0 0
Millicom International Cellular COM l6388f110   2,627 208,029 SH   DFND   0 0 208,029
N-able Inc COM 62878D100   2,173 211,398 SH   SOLE   211,398 0 0
N-able Inc COM 62878D100   2,087 203,063 SH   DFND   0 0 203,063
Nature's Sunshine Products Inc COM 639027101   1,091 131,153 SH   DFND   0 0 131,153
NewMarket Corporation COM 651587107   5,274 16,951 SH   SOLE   16,951 0 0
NewMarket Corporation COM 651587107   3,889 12,500 SH   DFND   0 0 12,500
Northern Technologies International COM 665809109   7 514 SH   SOLE   514 0 0
Omni-Lite Industries Canada COM 681976106   2 3,806 SH   SOLE   3,806 0 0
Overseas Shipholding Group Inc COM 69036R863   42 14,499 SH   SOLE   14,499 0 0
Philip Morris International In COM 718172109   121 1,200 SH   SOLE   1,200 0 0
Quorum Information Technologies COM 749093100   7 12,270 SH   SOLE   12,270 0 0
Regal Rexnord Corporation COM 758750103   2,142 17,854 SH   SOLE   17,854 0 0
Research Solutions Inc COM 761025105   3,234 1,684,411 SH   SOLE   1,684,411 0 0
Research Solutions Inc COM 761025105   1,847 962,153 SH   DFND   0 0 962,153
SecureWorks Corporation COM 81374A105   2,455 384,155 SH   SOLE   384,155 0 0
SecureWorks Corporation COM 81374A105   1,847 289,012 SH   DFND   0 0 289,012
Sensata Technologies Holding COM G8060N102   980 24,278 SH   SOLE   24,278 0 0
Six Flags Entertainment Corporation COM 83001a102   6,517 280,300 SH   SOLE   280,300 0 0
Six Flags Entertainment Corporation COM 83001a102   3,957 170,199 SH   DFND   0 0 170,199
Skechers U.S.A. Inc CL A COM 830566105   1,094 26,071 SH   SOLE   26,071 0 0
Standex International Corporation COM 854231107   3,920 38,276 SH   SOLE   38,276 0 0
Standex International Corporation COM 854231107   3,368 32,889 SH   DFND   0 0 32,889
Star Group L.P. COM 85512c105   483 40,100 SH   SOLE   40,100 0 0
StoneX Group Inc COM 861896108   6,797 71,319 SH   SOLE   71,319 0 0
StoneX Group Inc COM 861896108   5,371 56,354 SH   DFND   0 0 56,354
Tapestry Inc COM 876030107   1,332 34,979 SH   SOLE   34,979 0 0
The Bank of New York Mellon Co COM 064058100   1,271 27,915 SH   SOLE   27,915 0 0
The Eastern Company COM 276317104   6 310 SH   SOLE   310 0 0
The Monarch Cement Company COM 609031307   2 23 SH   SOLE   23 0 0
Tiptree Inc COM 88822Q103   3,041 219,725 SH   SOLE   219,725 0 0
Tiptree Inc COM 88822Q103   2,076 149,980 SH   DFND   0 0 149,980
Trimble Navigation Ltd COM 896239100   988 19,548 SH   SOLE   19,548 0 0
UFP Technologies Inc COM 902673102   7 62 SH   SOLE   62 0 0
Viasat Inc COM 92552v100   21,225 670,623 SH   SOLE   670,623 0 0
Viasat Inc COM 92552v100   10,087 318,700 SH   DFND   0 0 318,700
Viemed Healthcare Inc COM 92663r105   4,624 611,693 SH   SOLE   611,693 0 0
Viemed Healthcare Inc COM 92663r105   3,964 524,367 SH   DFND   0 0 524,367
Warner Bros Discovery Inc COM 934423104   2,776 292,800 SH   SOLE   292,800 0 0
Wells Fargo & Company COM 949746101   1,685 40,800 SH   SOLE   40,800 0 0
White Mountains Insurance Group COM g9618e107   13,131 9,284 SH   SOLE   9,284 0 0
White Mountains Insurance Group COM g9618e107   7,978 5,641 SH   DFND   0 0 5,641