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
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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
Activision Blizzard, Inc. COM 00507V109   3,674,400 48,000 SH   DFND 1 0 48,000 0
Alphabet Inc. CAP STK CL A 02079K305   2,117,520 24,000 SH   SOLE 0 24,000 0 0
Amarin Corporation PLC COM 023111206   2,420,000 2,000,000 SH   DFND 1 0 2,000,000 0
Amazon.Com Inc. COM 023135106   5,040,000 60,000 SH   SOLE 0 60,000 0 0
Amerant Bancorp Inc. CL A 023576101   11,829,032 440,724 SH   DFND 1 0 440,724 0
Anterix Inc COM 03676C100   12,868,000 400,000 SH   DFND 1 0 400,000 0
Avidbank Holdings, Inc. COM 05368J103   41,400 2,000 SH   DFND 1 0 2,000 0
BCB Bancorp, Inc. COM 055298103   16,550,800 920,000 SH   DFND 1 0 920,000 0
BKF Capital Group, Inc. COM 05548G201   712,465 29,380 SH   DFND 1 0 29,380 0
Baker Hughes Company COM 05722G100   147,525 5,000 SH   SOLE 0 5,000 0 0
The Bancorp Bank COM 05969A105   9,032,389 318,266 SH   DFND 1 0 318,266 0
Banc of California, Inc. COM 05990K106   18,104,955 1,136,532 SH   DFND 1 0 1,136,532 0
Bank of San Francisco COM 064774102   2,793,086 102,687 SH   DFND 1 0 102,687 0
Blue Foundry Bancorp COM 09549B104   4,334,164 337,289 SH   DFND 1 0 337,289 0
Brinker International, Inc. COM 109641100   8,622,082 270,200 SH   DFND 1 0 270,200 0
British American Tobacco - ADR SPONSORED ADR 110448107   599,700 15,000 SH   SOLE 0 15,000 0 0
Carbon Energy Corp COM 14115T208   2,639 52,778 SH   DFND 1 0 52,778 0
Catalyst Bancorp Inc COM 14888L101   71,412 5,623 SH   DFND 1 0 5,623 0
Continental Resources Inc. COM NEW 212015101   742,700 10,000 SH   SOLE 0 10,000 0 0
Corebridge Financial Inc COM 21871X109   3,009,000 150,000 SH   DFND 1 0 150,000 0
Diamond Offshore Drilling Inc COM 25271C201   3,195,556 307,265 SH   DFND 1 0 307,265 0
The Walt Disney Company COM 254687106   86,880 1,000 SH   SOLE 0 1,000 0 0
Dolby Laboratories Inc. COM CL A 25659T107   14,989,750 212,500 SH   DFND 1 0 212,500 0
Dolby Laboratories Inc. COM 25659T107   229,608 3,255 SH   SOLE 0 3,255 0 0
EQRx, Inc. Warrant *W EXP 12/17/202 26886C115   26,820 100,000 SH   DFND 1 0 100,000 0
ES Bancshares, Inc COM 296049109   2,817,023 658,183 SH   DFND 1 0 658,183 0
FFBW Inc. COM 30260M103   3,401,985 293,022 SH   DFND 1 0 293,022 0
META Platforms Inc. (Facebook) COM 30303M102   1,491,614 12,395 SH   SOLE 0 12,395 0 0
Farmers & Merchants Bank COM 308243104   1,515,395 203 SH   SOLE 0 203 0 0
Federal Life Group, Inc. COM 313533101   1,149 100 SH   SOLE 0 100 0 0
First Bank COM 31931U102   2,753,376 200,100 SH   DFND 1 0 200,100 0
Standard Biotools Inc. COM 34385P108   1,138,122 972,754 SH   DFND 1 0 972,754 0
Great Lakes Dredge & Dock COM 390607109   4,685,625 787,500 SH   DFND 1 0 787,500 0
Gulf Coast Ultra Deep Rty Trust Unit UNIT BEN INT 40222T104   195,000 5,000,000 SH   DFND 1 0 5,000,000 0
Gulf Coast Ultra Deep Rty Trust Unit UNIT BEN INT 40222T104   28,156 721,942 SH   SOLE 0 721,942 0 0
Gyrodyne, LLC COM 403829104   514,334 63,498 SH   DFND 1 0 63,498 0
Gyrodyne, LLC COM 403829104   37,730 4,658 SH   SOLE 0 4,658 0 0
Helmerich & Payne Inc. COM 423452101   4,957,000 100,000 SH   DFND 1 0 100,000 0
Hugoton Realty Trust TEX Unit Ben Int UNIT BEN INT 444717102   365,645 190,440 SH   SOLE 0 190,440 0 0
ICC Holdings, Inc. COM 44931Q104   886,426 56,281 SH   DFND 1 0 56,281 0
Intel Corp. COM 458140100   14,325,721 542,025 SH   SOLE 0 542,025 0 0
Ironwood Pharmaceuticals COM 46333X108   6,442,800 520,000 SH   DFND 1 0 520,000 0
LICT Corp. COM 50187G104   3,820,000 191 SH   DFND 1 0 191 0
Laboratory Corporation of America COM 50540R409   18,838,400 80,000 SH   DFND 1 0 80,000 0
Madison Square Garden Sports CL A 55825T103   5,316,570 29,000 SH   DFND 1 0 29,000 0
Madison Square Garden Sports CL A 55825T103   112,198 612 SH   SOLE 0 612 0 0
Madison Square Garden Entertainment CL A 55826T102   6,745,500 150,000 SH   DFND 1 0 150,000 0
Madison Square Garden Entertainment CL A 55826T102   27,522 612 SH   SOLE 0 612 0 0
Meridian Corp. COM 58958P104   6,642,567 219,299 SH   DFND 1 0 219,299 0
Mid-Southern Bancorp COM 59548Q107   2,205,000 169,485 SH   DFND 1 0 169,485 0
Mistras Group COM 60649T107   7,298,821 1,480,491 SH   DFND 1 0 1,480,491 0
Bunge Limited COM 616962105   34,919,500 350,000 SH   DFND 1 0 350,000 0
NI Holdings Inc. COM 65342T106   7,298,500 550,000 SH   DFND 1 0 550,000 0
Northeast Bancorp COM 663904209   9,751,918 231,637 SH   DFND 1 0 231,637 0
One Liberty Properties, Inc. COM 682406103   5,667,655 255,070 SH   DFND 1 0 255,070 0
Peapack-Gladstone Financial Corp. COM 704699107   1,037,656 27,879 SH   DFND 1 0 27,879 0
Permian Basin Rlty Trust UNIT BEN INT 714236106   348,793 13,841 SH   SOLE 0 13,841 0 0
Plains All American Pipeline UNIT LTD PARTN 726503105   4,792,200 407,500 SH   DFND 1 0 407,500 0
Plains All American Pipeline UNIT LTD PARTN 726503105   130,313 11,081 SH   SOLE 0 11,081 0 0
Plains GP Holdings LP LTD PARTNR INT A 72651A207   1,172,771 94,388 SH   SOLE 0 94,388 0 0
Ponce Financial Group Inc COM 732344106   2,003,800 215,000 SH   DFND 1 0 215,000 0
Popular, Inc. COM NEW 733174700   17,783,642 268,149 SH   DFND 1 0 268,149 0
Positive Phyisicians Holdings Inc COM 73740G106   3,150 450 SH   SOLE 0 450 0 0
S&W Seed Company COM 785135104   25,997,857 17,448,226 SH   DFND 1 0 17,448,226 0
William H. Sadlier, Inc. COM 786327106   472,078 21,217 SH   DFND 1 0 21,217 0
Salesforce, Inc. COM 79466L302   132,590 1,000 SH   SOLE 0 1,000 0 0
San Juan Basin Realty Trust Unit UNIT BEN INT 798241105   1,144,741 100,240 SH   SOLE 0 100,240 0 0
Sarcos Technology and Robotics COM 80359A106   661,628 1,178,742 SH   DFND 1 0 1,178,742 0
Scholastic Corporation COM 807066105   7,892,000 200,000 SH   DFND 1 0 200,000 0
Sharecare Inc Warrants *W EXP 07/01/202 81948W112   3,733 26,666 SH   DFND 1 0 26,666 0
SIGA Technologies COM 826917106   3,376,032 458,700 SH   DFND 1 0 458,700 0
Skyworks Solutions Inc. COM 83088M102   176,428 1,936 SH   SOLE 0 1,936 0 0
SomaLogic, Inc. Warrant *W EXP 03/01/202 83444K113   24,000 60,000 SH   DFND 1 0 60,000 0
Tastemaker ACQ WNT COM 876545112   4,569 30,437 SH   DFND 1 0 30,437 0
Tejon Ranch Co. COM 879080109   7,257,168 385,200 SH   DFND 1 0 385,200 0
Texas Capital Bancshares, Inc. COM 88224Q107   18,093,000 300,000 SH   DFND 1 0 300,000 0
Tidewater Warrant Exp 11/24/24 *W EXP 11/24/202 88642R174   17,866 7,444 SH   DFND 1 0 7,444 0
Traditions Bancorp Inc COM 89269L102   2,694,670 144,100 SH   DFND 1 0 144,100 0
Trinity Place Holdings Inc. COM 89656D101   6,831,213 9,232,617 SH   DFND 1 0 9,232,617 0
Wells Fargo & Co. COM 949746101   8,258,000 200,000 SH   DFND 1 0 200,000 0
William Penn Bancorp COM 96927A105   5,826,096 480,701 SH   DFND 1 0 480,701 0
Alkermes PLC SHS G01767105   9,422,478 360,600 SH   DFND 1 0 360,600 0
RenaissanceRe Holdings COM G7496G103   9,211,500 50,000 SH   DFND 1 0 50,000 0
Pioneer Merger Corp. CL A SHS G7S24C103   1,014,000 100,000 SH   DFND 1 0 100,000 0
Pioneer Merger Corp Warrant 1/7/26 *W EXP 01/07/202 G7S24C111   17 33,332 SH   DFND 1 0 33,332 0
SiriusPoint Ltd COM G8192H106   4,321,479 732,454 SH   DFND 1 0 732,454 0
Cellebrite DI Warrant *W EXP 08/30/202 M2197Q115   12,362 20,000 SH   DFND 1 0 20,000 0
Atlas Corp. SHARES Y0436Q109   2,646,150 172,500 SH   DFND 1 0 172,500 0