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
89BIO INC COM 282559103   1,945,529 198,119 SH   SOLE   198,119 0 0
AKEBIA THERAPEUTICS INC COM 00972D105   194,776 53,510 SH   SOLE   53,510 0 0
ARCBEST CORP COM 03937C105   2,015,968 26,178 SH   SOLE   26,178 0 0
ARCOSA INC COM 039653100   2,827,700 32,611 SH   SOLE   32,611 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102   294,991 1,816 SH   SOLE   1,816 0 0
ATLAS ENERGY SOLUTIONS INC COM NEW 642045108   937,210 70,098 SH   SOLE   70,098 0 0
AXOS FINANCIAL INC COM 05465C100   2,880,851 37,886 SH   SOLE   37,886 0 0
AZZ INC COM 002474104   368,661 3,902 SH   SOLE   3,902 0 0
BANC OF CALIFORNIA INC COM 05990K106   2,412,624 171,717 SH   SOLE   171,717 0 0
BANCORP INC DEL COM 05969A105   6,935,300 121,736 SH   SOLE   121,736 0 0
CASEYS GEN STORES INC COM 147528103   204,108 400 SH   SOLE   400 0 0
CENTRAL GARDEN & PET CO CL A NON-VTG 153527205   334,146 10,679 SH   SOLE   10,679 0 0
CENTRAL GARDEN & PET CO COM 153527106   1,502,890 42,720 SH   SOLE   42,720 0 0
CRITEO S A SPONS ADS 226718104   1,313,655 54,827 SH   SOLE   54,827 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   143,472 13,862 SH   SOLE   13,862 0 0
DUCOMMUN INC DEL COM 264147109   2,262,244 27,378 SH   SOLE   27,378 0 0
ENOVA INTL INC COM 29357K103   2,304,338 20,663 SH   SOLE   20,663 0 0
FERROGLOBE PLC SHS G33856108   1,721,780 469,150 SH   SOLE   469,150 0 0
FRANKLIN BSP RLTY TR INC COMMON STOCK 35243J101   1,644,421 153,828 SH   SOLE   153,828 0 0
FRANKLIN ELEC INC COM 353514102   307,539 3,427 SH   SOLE   3,427 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   4,731,057 766,784 SH   SOLE   766,784 0 0
GARRETT MOTION INC COM 366505105   3,139,673 298,732 SH   SOLE   298,732 0 0
GREENLIGHT CAPITAL RE LTD CLASS A G4095J109   3,431,139 238,771 SH   SOLE   238,771 0 0
HERON THERAPEUTICS INC COM 427746102   1,366,061 659,933 SH   SOLE   659,933 0 0
HUDBAY MINERALS INC COM 443628102   4,358,832 410,823 SH   SOLE   410,823 0 0
INTELLIA THERAPEUTICS INC COM 45826J105   742,971 79,208 SH   SOLE   79,208 0 0
NI HLDGS INC COM 65342T106   1,461,686 114,732 SH   SOLE   114,732 0 0
NORTH AMERN CONSTR GROUP LTD COM 656811106   2,359,079 147,627 SH   SOLE   147,627 0 0
PATHWARD FINANCIAL INC COM 59100U108   1,563,886 19,766 SH   SOLE   19,766 0 0
PERFORMANT HEALTHCARE INC COM 71377E105   80,000 20,000 SH   SOLE   20,000 0 0
POTBELLY CORP COM 73754Y100   255,878 20,888 SH   SOLE   20,888 0 0
REVOLVE GROUP INC CL A 76156B107   1,789,884 89,271 SH   SOLE   89,271 0 0
SHYFT GROUP INC COM 825698103   1,768,002 140,989 SH   SOLE   140,989 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   24,714,000 40,000 SH   SOLE   40,000 0 0
TALEN ENERGY CORP COM 87422Q109   831,311 2,859 SH   SOLE   2,859 0 0
TIDEWATER INC NEW COM 88642R109   2,116,444 45,880 SH   SOLE   45,880 0 0
TRANSOCEAN LTD REGISTERED SHS H8817H100   26,379 10,185 SH   SOLE   10,185 0 0
TRINITY INDS INC COM 896522109   1,319,655 48,858 SH   SOLE   48,858 0 0
TRIUMPH FINANCIAL INC COM 89679E300   1,820,945 33,042 SH   SOLE   33,042 0 0