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
ANGI INC COM 00183L102 BBG00HVKH479 24,671 9,908 SH   SOLE   9,908 0 0
ABBOTT LABS COM 002824100 BBG000B9ZZG4 110,070 1,000 SH   SOLE   1,000 0 0
ABBVIE INC COM 00287Y109 BBG003P7K0B5 154,970 1,000 SH   SOLE   1,000 0 0
AMER SOFTWARE INC COM 029683109 BBG000BBWPX5 4,394,220 388,869 SH   DFND   0 0 388,869
AMER SOFTWARE INC COM 029683109 BBG000BBWPX5 2,057,549 182,084 SH   SOLE   182,084 0 0
AMERICAN VANGUARD CORP COM 030371108 BBG000DPXXH2 2,236,322 203,858 SH   DFND   0 0 203,858
AMERICAN VANGUARD CORP COM 030371108 BBG000DPXXH2 688,115 62,727 SH   SOLE   62,727 0 0
BANK NEW YORK MELLON CORP COM 064058100 BBG000BD8QV8 1,426,170 27,400 SH   SOLE   27,400 0 0
BERKSHIRE HATHAWAY INC DEL COM 084670702 BBG000DWH8Q0 3,958,926 11,100 SH   SOLE   11,100 0 0
CNX RES CORP COM 12653C108 BBG000CKVVL5 4,145,100 207,255 SH   DFND   0 0 207,255
CNX RES CORP COM 12653C108 BBG000CKVVL5 2,159,080 107,954 SH   SOLE   107,954 0 0
CHEVRON CORP NEW COM 166764100 BBG000K4NHJ5 149,160 1,000 SH   SOLE   1,000 0 0
CITIZENS HLDG CO MISS COM 174715102 BBG000C33NZ7 12,292 1,586 SH   SOLE   1,586 0 0
CLEAN HARBORS INC COM 184496107 BBG000BFRVR6 870,979 4,991 SH   SOLE   4,991 0 0
ENOVIS CORPORATION COM 194014502 BBG000C606W3 4,335,612 77,394 SH   DFND   0 0 77,394
ENOVIS CORPORATION COM 194014502 BBG000C606W3 4,766,350 85,083 SH   SOLE   85,083 0 0
COMPASS MINERALS INTL INC COM 20451N101 BBG000C42YN5 3,793,518 149,823 SH   DFND   0 0 149,823
COMPASS MINERALS INTL INC COM 20451N101 BBG000C42YN5 2,010,028 79,385 SH   SOLE   79,385 0 0
CTO RLTY GROWTH INC NEW COM 22948Q101 BBG00Y3M3N63 232,291 13,404 SH   SOLE   13,404 0 0
DLH HLDGS CORP COM 23335Q100 BBG000G1BQT8 7,374,875 468,246 SH   DFND   0 0 468,246
DLH HLDGS CORP COM 23335Q100 BBG000G1BQT8 4,406,189 279,758 SH   SOLE   279,758 0 0
DEVON ENERGY CORP NEW COM 25179M103 BBG000BBVMM5 1,238,230 27,334 SH   SOLE   27,334 0 0
DUCOMMUN INC DEL COM 264147109 BBG000BH04P3 4,338,785 83,342 SH   DFND   0 0 83,342
DUCOMMUN INC DEL COM 264147109 BBG000BH04P3 2,077,871 39,913 SH   SOLE   39,913 0 0
EASTERN CO COM 276317104 BBG000BHWXC8 11,968 544 SH   SOLE   544 0 0
ECOVYST INC COM 27923Q109 BBG00GX8YKD4 8,762,518 896,880 SH   DFND   0 0 896,880
ECOVYST INC COM 27923Q109 BBG00GX8YKD4 9,887,826 1,012,060 SH   SOLE   1,012,060 0 0
ELEMENT SOLUTIONS INC COM 28618M106 BBG005C4XHW7 895,425 38,696 SH   SOLE   38,696 0 0
FMC CORP COM 302491303 BBG000BJPBC0 1,926,619 30,557 SH   SOLE   30,557 0 0
FRANCO NEV CORP COM 351858105 BBG000RD3FN9 2,271,605 20,500 SH   SOLE   20,500 0 0
GLOBAL INDEMNITY GROUP LLC COM 37959R103 BBG00X03FH79 2,984,425 92,569 SH   SOLE   92,569 0 0
GREAT ELM CAP CORP COM 390320703 BBG00F5TLJ48 129,869 12,200 SH   SOLE   12,200 0 0
GREAT ELM GROUP INC COM 39037G109 BBG00YPT1PQ9 1,377,516 710,060 SH   DFND   0 0 710,060
GREAT ELM GROUP INC COM 39037G109 BBG00YPT1PQ9 604,477 311,586 SH   SOLE   311,586 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 BBG000QT4FF3 3,837,696 499,700 SH   DFND   0 0 499,700
GREAT LAKES DREDGE & DOCK CO COM 390607109 BBG000QT4FF3 1,682,350 219,056 SH   SOLE   219,056 0 0
HALLADOR ENERGY COMPANY COM 40609P105 BBG000DP9Z66 1,382,443 156,385 SH   DFND   0 0 156,385
HALLADOR ENERGY COMPANY COM 40609P105 BBG000DP9Z66 1,049,900 118,767 SH   SOLE   118,767 0 0
HOWMET AEROSPACE INC COM 443201108 BBG00DYNJGM3 1,586,906 29,322 SH   SOLE   29,322 0 0
IAC INC COM 44891N208 BBG00S1LT2C1 11,848,356 226,200 SH   DFND   0 0 226,200
IAC INC COM 44891N208 BBG00S1LT2C1 12,509,549 238,823 SH   SOLE   238,823 0 0
INFUSYSTEM HLDGS INC COM 45685K102 BBG000P10026 3,045,681 288,964 SH   DFND   0 0 288,964
INFUSYSTEM HLDGS INC COM 45685K102 BBG000P10026 1,269,712 120,466 SH   SOLE   120,466 0 0
INNOVATIVE SOLUTIONS & SUPPO COM 45769N105 BBG000BF2B42 21,624 2,535 SH   SOLE   2,535 0 0
ISHARES TR ETF 46429B655 BBG001QWVBD5 111,397 2,200 SH   SOLE   2,200 0 0
ISSUER DIRECT CORP COM 46520M204 BBG000C1CKJ5 9,228 509 SH   SOLE   509 0 0
KBR INC COM 48242W106 BBG000P292S3 3,866,454 69,779 SH   DFND   0 0 69,779
KBR INC COM 48242W106 BBG000P292S3 5,892,244 106,339 SH   SOLE   106,339 0 0
KINDER MORGAN INC DEL COM 49456B101 BBG0019JZ8D6 178,164 10,100 SH   SOLE   10,100 0 0
LIFECORE BIOMEDICAL INC COM 514766104 BBG000G1H6G0 3,311,607 534,993 SH   DFND   0 0 534,993
LIFECORE BIOMEDICAL INC COM 514766104 BBG000G1H6G0 2,322,928 375,271 SH   SOLE   375,271 0 0
LIBERTY MEDIA CORP DEL COM 531229748 BBG01HMFL0T8 1,777,354 48,628 SH   SOLE   48,628 0 0
LIBERTY TRIPADVISOR HLDGS INC COM 531465102 BBG005DKMJM9 3,446,719 4,054,963 SH   DFND   0 0 4,054,963
LIBERTY TRIPADVISOR HLDGS INC COM 531465102 BBG005DKMJM9 3,656,145 4,301,347 SH   SOLE   4,301,347 0 0
LIONS GATE ENTMNT CORP COM 535919500 BBG00FFJY8B1 2,925,549 287,100 SH   DFND   0 0 287,100
LIONS GATE ENTMNT CORP COM 535919500 BBG00FFJY8B1 1,022,220 100,316 SH   SOLE   100,316 0 0
LITTELFUSE INC COM 537008104 BBG000BGFS30 930,574 3,478 SH   SOLE   3,478 0 0
MOTORCAR PTS AMER INC COM 620071100 BBG000BJSC99 4,894,655 524,053 SH   DFND   0 0 524,053
MOTORCAR PTS AMER INC COM 620071100 BBG000BJSC99 2,190,548 234,534 SH   SOLE   234,534 0 0
NEWMARKET CORP COM 651587107 BBG000BJ5TW1 4,036,959 7,396 SH   DFND   0 0 7,396
NEWMARKET CORP COM 651587107 BBG000BJ5TW1 2,303,403 4,220 SH   SOLE   4,220 0 0
NORTHERN TECHNOLOGIES INTL COM 665809109 BBG000D38456 10,814 918 SH   SOLE   918 0 0
OUTFRONT MEDIA INC COM 69007J106 BBG004S6B059 5,755,708 412,300 SH   DFND   0 0 412,300
OUTFRONT MEDIA INC COM 69007J106 BBG004S6B059 5,988,547 428,979 SH   SOLE   428,979 0 0
PHILIP MORRIS INTL INC COM 718172109 BBG000J2XPB0 103,488 1,100 SH   SOLE   1,100 0 0
REGAL REXNORD CORPORATION COM 758750103 BBG000BRXWM6 1,550,657 10,476 SH   SOLE   10,476 0 0
RESEARCH SOLUTIONS INC COM 761025105 BBG000GQFCD7 4,122,370 1,585,527 SH   DFND   0 0 1,585,527
RESEARCH SOLUTIONS INC COM 761025105 BBG000GQFCD7 5,009,095 1,926,575 SH   SOLE   1,926,575 0 0
SCHWAB CHARLES CORP COM 808513105 BBG000BSM368 2,256,640 32,800 SH   SOLE   32,800 0 0
SCRIPPS E W CO OHIO COM 811054402 BBG000C79YF0 11,283,360 1,411,302 SH   DFND   0 0 1,411,302
SCRIPPS E W CO OHIO COM 811054402 BBG000C79YF0 10,772,879 1,347,452 SH   SOLE   1,347,452 0 0
SECUREWORKS CORP COM 81374A105 BBG00BL6Z9K8 3,425,951 464,221 SH   DFND   0 0 464,221
SECUREWORKS CORP COM 81374A105 BBG00BL6Z9K8 1,354,776 183,574 SH   SOLE   183,574 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 BBG000F4W2P7 5,625,419 224,299 SH   DFND   0 0 224,299
SIX FLAGS ENTMT CORP NEW COM 83001A102 BBG000F4W2P7 4,163,907 166,025 SH   SOLE   166,025 0 0
SKECHERS U S A INC COM 830566105 BBG000C4HLV8 1,291,498 20,717 SH   SOLE   20,717 0 0
STANDEX INTL CORP COM 854231107 BBG000BTT7Q8 3,054,992 19,289 SH   DFND   0 0 19,289
STANDEX INTL CORP COM 854231107 BBG000BTT7Q8 1,379,015 8,707 SH   SOLE   8,707 0 0
STAR GROUP L P COM 85512C105 BBG000C07X96 196,275 17,023 SH   SOLE   17,023 0 0
STONEX GROUP INC COM 861896108 BBG000BB26D2 4,307,981 58,350 SH   DFND   0 0 58,350
STONEX GROUP INC COM 861896108 BBG000BB26D2 2,915,916 39,495 SH   SOLE   39,495 0 0
TAPESTRY INC COM 876030107 BBG000BY2CY6 999,796 27,161 SH   SOLE   27,161 0 0
TIPTREE INC COM 88822Q103 BBG000R2S1T1 5,289,594 278,987 SH   DFND   0 0 278,987
TIPTREE INC COM 88822Q103 BBG000R2S1T1 2,211,646 116,648 SH   SOLE   116,648 0 0
TREDEGAR CORP COM 894650100 BBG000BLVPY3 59,532 11,004 SH   SOLE   11,004 0 0
TRIMBLE INC COM 896239100 BBG000BNQ4W4 1,443,795 27,139 SH   SOLE   27,139 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104 BBG012PP0X99 3,908,788 293,673 SH   DFND   0 0 293,673
TRIPLE FLAG PRECIOUS METAL COM 89679M104 BBG012PP0X99 2,333,683 175,333 SH   SOLE   175,333 0 0
VIASAT INC COM 92552V100 BBG000HHNV27 9,173,581 328,214 SH   DFND   0 0 328,214
VIASAT INC COM 92552V100 BBG000HHNV27 9,036,654 323,315 SH   SOLE   323,315 0 0
VIEMED HEALTHCARE INC COM 92663R105 BBG00JNKPJF3 4,365,087 556,062 SH   DFND   0 0 556,062
VIEMED HEALTHCARE INC COM 92663R105 BBG00JNKPJF3 2,863,562 364,785 SH   SOLE   364,785 0 0
VITESSE ENERGY INC COM 92852X103 BBG01B9G0H01 3,732,508 170,512 SH   DFND   0 0 170,512
VITESSE ENERGY INC COM 92852X103 BBG01B9G0H01 2,358,669 107,751 SH   SOLE   107,751 0 0
WARNER BROS DISCOVERY INC COM 934423104 BBG016HRQK22 5,303,184 465,600 SH   SOLE   465,600 0 0
CLIMB GLOBAL SOLUTIONS INC COM 946760105 BBG000BCJZ93 6,328,808 115,426 SH   DFND   0 0 115,426
CLIMB GLOBAL SOLUTIONS INC COM 946760105 BBG000BCJZ93 4,152,934 75,742 SH   SOLE   75,742 0 0
WELLS FARGO CO NEW COM 949746101 BBG000BWQHB8 1,673,480 34,000 SH   SOLE   34,000 0 0
WELLS FARGO CO NEW COM 949746804 BBG000001Y75 137,496 115 SH   SOLE   115 0 0
AXALTA COATING SYS LTD COM G0750C108 BBG0070QYRW4 4,023,203 118,434 SH   SOLE   118,434 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 BBG000G7QSB4 7,737,256 5,141 SH   DFND   0 0 5,141
WHITE MTNS INS GROUP LTD COM G9618E107 BBG000G7QSB4 8,307,655 5,520 SH   SOLE   5,520 0 0
MILLICOM INTL CELLULAR S A COM L6388F110 BBG000BQBT49 36 2 SH   SOLE   2 0 0