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
ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104   2,363,078 592,250 SH   SOLE 0 592,250 0 0
ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104   742,128 185,997 SH   OTR 1 185,997 0 0
ARCHER AVIATION INC COM CL A 03945R102   1,783,483 352,467 SH   SOLE 0 352,467 0 0
ARCHER AVIATION INC COM CL A 03945R102   555,512 109,785 SH   OTR 1 109,785 0 0
BOISE CASCADE CO DEL COM 09739D100   1,803,200 17,500 SH Put SOLE 0 0 0 17,500
BOISE CASCADE CO DEL COM 09739D100   618,240 6,000 SH Put OTR 1 0 0 6,000
BOYD GAMING CORP COM 103304101   6,523,531 107,242 SH   SOLE 0 107,242 0 0
BOYD GAMING CORP COM 103304101   2,140,973 35,196 SH   OTR 1 35,196 0 0
BOYD GAMING CORP COM 103304101   6,490,561 106,700 SH Put SOLE 0 0 0 106,700
BOYD GAMING CORP COM 103304101   2,147,299 35,300 SH Put OTR 1 0 0 35,300
CATO CORP NEW CL A 149205106   1,876,347 244,954 SH   SOLE 0 244,954 0 0
CATO CORP NEW CL A 149205106   637,473 83,221 SH   OTR 1 83,221 0 0
CRH PLC ORD G25508105   4,753,793 86,859 SH   SOLE 0 86,859 0 0
CRH PLC ORD G25508105   1,479,954 27,041 SH   OTR 1 27,041 0 0
CRH PLC ORD G25508105   4,351,035 79,500 SH Put SOLE 0 0 0 79,500
CRH PLC ORD G25508105   1,357,304 24,800 SH Put OTR 1 0 0 24,800
EXPRESS INC COM NEW 30219E202   322,227 35,803 SH   SOLE 0 35,803 0 0
EXPRESS INC COM NEW 30219E202   109,836 12,204 SH   OTR 1 12,204 0 0
GEN RESTAURANT GROUP CL A COM 36870C104   2,785,940 239,342 SH   SOLE 0 239,342 0 0
GEN RESTAURANT GROUP CL A COM 36870C104   883,360 75,890 SH   OTR 1 75,890 0 0
GILDAN ACTIVEWEAR INC COM 375916103   4,317,182 154,130 SH   SOLE 0 154,130 0 0
GILDAN ACTIVEWEAR INC COM 375916103   1,421,339 50,744 SH   OTR 1 50,744 0 0
GRANITE PT MTG TR INC COM STK 38741L107   113,294 23,216 SH   OTR 1 23,216 0 0
INSPIRED ENTMT INC COM 45782N108   4,992,834 417,461 SH   SOLE 0 417,461 0 0
INSPIRED ENTMT INC COM 45782N108   1,643,770 137,439 SH   OTR 1 137,439 0 0
ISHARES TR RUSSELL 2000 ETF UNIT 464287655   6,733,794 38,100 SH Put SOLE 0 0 0 38,100
ISHARES TR RUSSELL 2000 ETF UNIT 464287655   2,103,206 11,900 SH Put OTR 1 0 0 11,900
KARAT PACKAGING INC COM 48563L101   4,650,833 201,684 SH   SOLE 0 201,684 0 0
KARAT PACKAGING INC COM 48563L101   1,460,067 63,316 SH   OTR 1 63,316 0 0
LANDSEA HOMES CORP COM 51509P103   2,626,743 292,185 SH   SOLE 0 292,185 0 0
LANDSEA HOMES CORP COM 51509P103   833,508 92,715 SH   OTR 1 92,715 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62197119   461,886 230,943 SH   SOLE 0 230,943 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62197119   176,152 88,076 SH   OTR 1 88,076 0 0
NAVIOS MARITIME PARTNERS L P COM UNIT LPI Y62267409   4,342,126 187,727 SH   SOLE 0 187,727 0 0
NAVIOS MARITIME PARTNERS L P COM UNIT LPI Y62267409   1,507,405 65,171 SH   OTR 1 65,171 0 0
NEW YORK MTG TR INC COM 649604840   4,488,459 528,676 SH   SOLE 0 528,676 0 0
NEW YORK MTG TR INC COM 649604840   1,448,547 170,618 SH   OTR 1 170,618 0 0
POLISHED COM INC COM 28252C109   12,052 149,339 SH   SOLE 0 149,339 0 0
POLISHED COM INC COM 28252C109   4,088 50,661 SH   OTR 1 50,661 0 0
RE MAX HLDGS INC CL A 75524W108   3,031,337 234,261 SH   SOLE 0 234,261 0 0
RE MAX HLDGS INC CL A 75524W108   951,129 73,503 SH   OTR 1 73,503 0 0
SCORPIO TANKERS INC SHS Y7542C130   2,558,956 47,283 SH   SOLE 0 47,283 0 0
SCORPIO TANKERS INC SHS Y7542C130   796,484 14,717 SH   OTR 1 14,717 0 0
SPDR S&P 500 ETF TR UNIT 78462F103   4,830,524 11,300 SH Put SOLE 0 0 0 11,300
SPDR S&P 500 ETF TR UNIT 78462F103   1,581,676 3,700 SH Put OTR 1 0 0 3,700
TERRAN ORBITAL CORPORATION COM 88105P103   524,610 630,238 SH   SOLE 0 630,238 0 0
TERRAN ORBITAL CORPORATION COM 88105P103   170,444 204,762 SH   OTR 1 204,762 0 0
TERRAN ORBITAL CORPORATION COM 88105P103   125,609 150,900 SH Call SOLE 0 0 0 150,900
TERRAN ORBITAL CORPORATION COM 88105P103   40,871 49,100 SH Call OTR 1 0 0 49,100
TPG RE FIN TR INC COM 87266M107   3,607,630 536,052 SH   SOLE 0 536,052 0 0
TPG RE FIN TR INC COM 87266M107   1,155,339 171,670 SH   OTR 1 171,670 0 0