| 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 | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Amarin Corporation PLC | COM | 023111206 | 1,644 | 1,508,500 | SH | | DFND | 1 | 0 | 1,508,500 | 0 |
| Amazon.Com Inc. | COM | 023135106 | 6,780 | 60,000 | SH | | SOLE | 0 | 60,000 | 0 | 0 |
| Amerant Bancorp Inc. | CL A | 023576101 | 10,948 | 440,724 | SH | | DFND | 1 | 0 | 440,724 | 0 |
| BCB Bancorp, Inc. | COM | 055298103 | 17,180 | 1,020,808 | SH | | DFND | 1 | 0 | 1,020,808 | 0 |
| Bank of San Francisco | COM | 064774102 | 2,735 | 102,687 | SH | | DFND | 1 | 0 | 102,687 | 0 |
| Brinker International, Inc. | COM | 109641100 | 6,750 | 270,200 | SH | | DFND | 1 | 0 | 270,200 | 0 |
| British American Tobacco - ADR | SPONSORED ADR | 110448107 | 533 | 15,000 | SH | | SOLE | 0 | 15,000 | 0 | 0 |
| Continental Resources Inc. | COM NEW | 212015101 | 668 | 10,000 | SH | | SOLE | 0 | 10,000 | 0 | 0 |
| The Walt Disney Company | COM | 254687106 | 94 | 1,000 | SH | | SOLE | 0 | 1,000 | 0 | 0 |
| ES Bancshares, Inc | COM | 296049109 | 3,390 | 658,183 | SH | | DFND | 1 | 0 | 658,183 | 0 |
| Farmers & Merchants Bank | COM | 308243104 | 1,583 | 203 | SH | | SOLE | 0 | 203 | 0 | 0 |
| Federal Life Group, Inc. | COM | 313533101 | 1 | 100 | SH | | DFND | 1 | 0 | 100 | 0 |
| Federal Life Group, Inc. | COM | 313533101 | 1 | 100 | SH | | SOLE | 0 | 100 | 0 | 0 |
| First of Long Island Corp | COM | 320734106 | 1,465 | 85,000 | SH | | DFND | 1 | 0 | 85,000 | 0 |
| Franklin Resources Inc. | COM | 354613101 | 4,089 | 190,000 | SH | | DFND | 1 | 0 | 190,000 | 0 |
| Franklin Resources Inc. | COM | 354613101 | 592 | 27,530 | SH | | SOLE | 0 | 27,530 | 0 | 0 |
| Great Lakes Dredge & Dock | COM | 390607109 | 5,230 | 690,000 | SH | | DFND | 1 | 0 | 690,000 | 0 |
| Gyrodyne, LLC | COM | 403829104 | 767 | 79,924 | SH | | DFND | 1 | 0 | 79,924 | 0 |
| Gyrodyne, LLC | COM | 403829104 | 45 | 4,658 | SH | | SOLE | 0 | 4,658 | 0 | 0 |
| Helmerich & Payne Inc. | COM | 423452101 | 3,697 | 100,000 | SH | | DFND | 1 | 0 | 100,000 | 0 |
| Hugoton Realty Trust TEX Unit Ben Int | UNIT BEN INT | 444717102 | 377 | 190,440 | SH | | SOLE | 0 | 190,440 | 0 | 0 |
| Intel Corp. | COM | 458140100 | 7,174 | 278,400 | SH | | DFND | 1 | 0 | 278,400 | 0 |
| Intel Corp. | COM | 458140100 | 15,256 | 592,025 | SH | | SOLE | 0 | 592,025 | 0 | 0 |
| Bunge Limited | COM | 616962105 | 28,900 | 350,000 | SH | | DFND | 1 | 0 | 350,000 | 0 |
| Bunge Limited | COM | 616962105 | 2,477 | 30,000 | SH | | SOLE | 0 | 30,000 | 0 | 0 |
| Northeast Bancorp | COM | 663904209 | 8,494 | 231,637 | SH | | DFND | 1 | 0 | 231,637 | 0 |
| Chord Energy Corp | COM NEW | 674215108 | 4,445 | 32,500 | SH | | DFND | 1 | 0 | 32,500 | 0 |
| One Liberty Properties, Inc. | COM | 682406103 | 5,362 | 255,070 | SH | | DFND | 1 | 0 | 255,070 | 0 |
| Peapack-Gladstone Financial Corp. | COM | 704699107 | 4,901 | 145,650 | SH | | DFND | 1 | 0 | 145,650 | 0 |
| Permian Basin Rlty Trust | UNIT BEN INT | 714236106 | 226 | 13,841 | SH | | SOLE | 0 | 13,841 | 0 | 0 |
| Plains All American Pipeline | UNIT LTD PARTN | 726503105 | 4,287 | 407,500 | SH | | DFND | 1 | 0 | 407,500 | 0 |
| Plains All American Pipeline | UNIT LTD PARTN | 726503105 | 117 | 11,081 | SH | | SOLE | 0 | 11,081 | 0 | 0 |
| Ponce Financial Group Inc | COM | 732344106 | 1,969 | 215,000 | SH | | DFND | 1 | 0 | 215,000 | 0 |
| Popular, Inc. | COM NEW | 733174700 | 22,576 | 313,296 | SH | | DFND | 1 | 0 | 313,296 | 0 |
| S&W Seed Company | COM | 785135104 | 12,737 | 17,448,226 | SH | | DFND | 1 | 0 | 17,448,226 | 0 |
| William H. Sadlier, Inc. | COM | 786327106 | 488 | 21,217 | SH | | DFND | 1 | 0 | 21,217 | 0 |
| San Juan Basin Realty Trust Unit | UNIT BEN INT | 798241105 | 942 | 100,240 | SH | | SOLE | 0 | 100,240 | 0 | 0 |
| Scholastic Corporation | COM | 807066105 | 7,536 | 245,000 | SH | | DFND | 1 | 0 | 245,000 | 0 |
| SIGA Technologies | COM | 826917106 | 3,939 | 382,400 | SH | | DFND | 1 | 0 | 382,400 | 0 |
| Tastemaker Acquisition Corp | COM CL A | 876545104 | 607 | 60,875 | SH | | DFND | 1 | 0 | 60,875 | 0 |
| Tastemaker ACQ WNT | *W EXP 01/07/202 | 876545112 | 3 | 30,437 | SH | | DFND | 1 | 0 | 30,437 | 0 |
| Tejon Ranch Co. | COM | 879080109 | 6,656 | 462,201 | SH | | DFND | 1 | 0 | 462,201 | 0 |
| Wells Fargo & Co. | COM | 949746101 | 8,044 | 200,000 | SH | | DFND | 1 | 0 | 200,000 | 0 |
| Wright Investors Service Holdings | COM | 982345100 | 77 | 479,397 | SH | | DFND | 1 | 0 | 479,397 | 0 |
| Activision Blizzard, Inc. | COM | 00507V109 | 3,568 | 48,000 | SH | | DFND | 1 | 0 | 48,000 | 0 |
| Alphabet Inc. | CAP STK CL A | 02079K305 | 2,296 | 24,000 | SH | | SOLE | 0 | 24,000 | 0 | 0 |
| Anterix Inc | COM | 03676C100 | 14,288 | 400,000 | SH | | DFND | 1 | 0 | 400,000 | 0 |
| Avidbank Holdings, Inc. | COM | 05368J103 | 44 | 2,000 | SH | | DFND | 1 | 0 | 2,000 | 0 |
| BKF Capital Group, Inc. | COM | 05548G201 | 712 | 29,380 | SH | | DFND | 1 | 0 | 29,380 | 0 |
| Baker Hughes Company | COM | 05722G100 | 105 | 5,000 | SH | | SOLE | 0 | 5,000 | 0 | 0 |
| The Bancorp Bank | COM | 05969A105 | 6,995 | 318,266 | SH | | DFND | 1 | 0 | 318,266 | 0 |
| Banc of California, Inc. | COM | 05990K106 | 18,150 | 1,136,532 | SH | | DFND | 1 | 0 | 1,136,532 | 0 |
| Blue Foundry Bancorp | COM | 09549B104 | 3,761 | 337,289 | SH | | DFND | 1 | 0 | 337,289 | 0 |
| CIBL, Inc. | COM | 12543Y104 | 406 | 215 | SH | | DFND | 1 | 0 | 215 | 0 |
| Carbon Energy Corp | COM | 14115T208 | 1 | 52,778 | SH | | DFND | 1 | 0 | 52,778 | 0 |
| Catalyst Bancorp Inc | COM | 14888L101 | 70 | 5,623 | SH | | DFND | 1 | 0 | 5,623 | 0 |
| Corebridge Financial Inc | COM | 21871X109 | 2,954 | 150,000 | SH | | DFND | 1 | 0 | 150,000 | 0 |
| Crimson Wine Group Ltd. | COM | 22662X100 | 7,256 | 1,142,600 | SH | | DFND | 1 | 0 | 1,142,600 | 0 |
| Diamond Offshore Drilling Inc | COM | 25271C201 | 11,048 | 1,666,422 | SH | | DFND | 1 | 0 | 1,666,422 | 0 |
| Dolby Laboratories Inc. | COM CL A | 25659T107 | 13,844 | 212,500 | SH | | DFND | 1 | 0 | 212,500 | 0 |
| Dolby Laboratories Inc. | COM | 25659T107 | 212 | 3,255 | SH | | SOLE | 0 | 3,255 | 0 | 0 |
| Du Pont E I De Nemours & Co | COM | 26614N102 | 431 | 8,546 | SH | | SOLE | 0 | 8,546 | 0 | 0 |
| EQRx, Inc. Warrant | *W EXP 12/17/202 | 26886C115 | 82 | 100,000 | SH | | DFND | 1 | 0 | 100,000 | 0 |
| FFBW Inc. | COM | 30260M103 | 3,487 | 293,022 | SH | | DFND | 1 | 0 | 293,022 | 0 |
| META Platforms Inc. (Facebook) | COM | 30303M102 | 1,682 | 12,395 | SH | | SOLE | 0 | 12,395 | 0 | 0 |
| First Bank | COM | 31931U102 | 2,735 | 200,100 | SH | | DFND | 1 | 0 | 200,100 | 0 |
| First Citizens BancShares | CL A | 31946M103 | 15,949 | 20,000 | SH | | DFND | 1 | 0 | 20,000 | 0 |
| First Citizens BancShares | CL B | 31946M202 | 555 | 777 | SH | | DFND | 1 | 0 | 777 | 0 |
| Standard Biotools Inc. | COM | 34385P108 | 940 | 854,200 | SH | | DFND | 1 | 0 | 854,200 | 0 |
| Gulf Coast Ultra Deep Rty Trust Unit | UNIT BEN INT | 40222T104 | 235 | 5,000,000 | SH | | DFND | 1 | 0 | 5,000,000 | 0 |
| Gulf Coast Ultra Deep Rty Trust Unit | UNIT BEN INT | 40222T104 | 34 | 721,942 | SH | | SOLE | 0 | 721,942 | 0 | 0 |
| ICC Holdings, Inc. | COM | 44931Q104 | 858 | 56,281 | SH | | DFND | 1 | 0 | 56,281 | 0 |
| Ironwood Pharmaceuticals | COM CL A | 46333X108 | 5,387 | 520,000 | SH | | DFND | 1 | 0 | 520,000 | 0 |
| LICT Corp. | COM | 50187G104 | 5,693 | 275 | SH | | DFND | 1 | 0 | 275 | 0 |
| Laboratory Corporation of America | COM | 50540R409 | 18,126 | 88,500 | SH | | DFND | 1 | 0 | 88,500 | 0 |
| Madison Square Garden Sports | CL A | 55825T103 | 3,963 | 29,000 | SH | | DFND | 1 | 0 | 29,000 | 0 |
| Madison Square Garden Sports | CL A | 55825T103 | 84 | 612 | SH | | SOLE | 0 | 612 | 0 | 0 |
| Madison Square Garden Entertainment | CL A | 55826T102 | 6,173 | 140,000 | SH | | DFND | 1 | 0 | 140,000 | 0 |
| Madison Square Garden Entertainment | CL A | 55826T102 | 27 | 612 | SH | | SOLE | 0 | 612 | 0 | 0 |
| Meridian Corp. | COM | 58958P104 | 7,876 | 270,000 | SH | | DFND | 1 | 0 | 270,000 | 0 |
| Mid-Southern Bancorp | COM | 59548Q107 | 2,271 | 169,485 | SH | | DFND | 1 | 0 | 169,485 | 0 |
| Mistras Group | COM | 60649T107 | 4,603 | 1,032,174 | SH | | DFND | 1 | 0 | 1,032,174 | 0 |
| NI Holdings Inc. | COM | 65342T106 | 7,348 | 550,000 | SH | | DFND | 1 | 0 | 550,000 | 0 |
| Palantir Tech | CL A | 69608A108 | 163 | 20,000 | SH | | SOLE | 0 | 20,000 | 0 | 0 |
| Park Aerospace Corp | COM | 70014A104 | 3,248 | 294,206 | SH | | DFND | 1 | 0 | 294,206 | 0 |
| Plains GP Holdings LP | LTD PARTNR INT A | 72651A207 | 1,810 | 166,130 | SH | | DFND | 1 | 0 | 166,130 | 0 |
| Plains GP Holdings LP | LTD PARTNR INT A | 72651A207 | 1,028 | 94,388 | SH | | SOLE | 0 | 94,388 | 0 | 0 |
| Positive Phyisicians Holdings Inc | COM | 73740G106 | 3 | 450 | SH | | DFND | 1 | 0 | 450 | 0 |
| Positive Phyisicians Holdings Inc | COM | 73740G106 | 3 | 450 | SH | | SOLE | 0 | 450 | 0 | 0 |
| Salesforce, Inc. | COM | 79466L302 | 144 | 1,000 | SH | | SOLE | 0 | 1,000 | 0 | 0 |
| Sarcos Technology and Robotics | COM | 80359A106 | 2,617 | 1,178,742 | SH | | DFND | 1 | 0 | 1,178,742 | 0 |
| Sharecare Inc Warrants | *W EXP 07/01/202 | 81948W112 | 6 | 26,666 | SH | | DFND | 1 | 0 | 26,666 | 0 |
| Skyworks Solutions Inc. | COM | 83088M102 | 165 | 1,936 | SH | | SOLE | 0 | 1,936 | 0 | 0 |
| SomaLogic, Inc. Warrant | *W EXP 03/01/202 | 83444K113 | 26 | 60,000 | SH | | DFND | 1 | 0 | 60,000 | 0 |
| Sonos, Inc. | COM | 83570H108 | 3,614 | 260,000 | SH | | DFND | 1 | 0 | 260,000 | 0 |
| Texas Capital Bancshares, Inc. | COM | 88224Q107 | 17,709 | 300,000 | SH | | DFND | 1 | 0 | 300,000 | 0 |
| Tidewater Warrant Exp 11/24/24 | *W EXP 11/24/202 | 88642R174 | 6 | 7,444 | SH | | DFND | 1 | 0 | 7,444 | 0 |
| Traditions Bancorp Inc | COM | 89269L102 | 2,846 | 144,100 | SH | | DFND | 1 | 0 | 144,100 | 0 |
| Trinity Place Holdings Inc. | COM | 89656D101 | 8,084 | 9,161,501 | SH | | DFND | 1 | 0 | 9,161,501 | 0 |
| Twitter | COM | 90184L102 | 3,288 | 75,000 | SH | | DFND | 1 | 0 | 75,000 | 0 |
| Waterstone Financial Inc. | COM | 94188P101 | 9,281 | 574,300 | SH | | DFND | 1 | 0 | 574,300 | 0 |
| William Penn Bancorp | COM | 96927A105 | 5,458 | 480,000 | SH | | DFND | 1 | 0 | 480,000 | 0 |
| Alkermes PLC | SHS | G01767105 | 8,052 | 360,600 | SH | | DFND | 1 | 0 | 360,600 | 0 |
| Nielsen Holdings PLC | SHS EUR | G6518L108 | 5,106 | 184,200 | SH | | DFND | 1 | 0 | 184,200 | 0 |
| RenaissanceRe Holdings | COM | G7496G103 | 13,337 | 95,000 | SH | | DFND | 1 | 0 | 95,000 | 0 |
| Sarissa Capital Acquisition Corp | CL A | G7823W102 | 650 | 65,000 | SH | | DFND | 1 | 0 | 65,000 | 0 |
| Sarissa Capital Acq Warrants 10/23/27 | *W EXP 10/23/202 | G7823W110 | 0 | 21,666 | SH | | DFND | 1 | 0 | 21,666 | 0 |
| Pioneer Merger Corp. | CL A SHS | G7S24C103 | 996 | 100,000 | SH | | DFND | 1 | 0 | 100,000 | 0 |
| Pioneer Merger Corp Warrant 1/7/26 | *W EXP 01/07/202 | G7S24C111 | 1 | 33,332 | SH | | DFND | 1 | 0 | 33,332 | 0 |
| SiriusPoint Ltd | COM | G8192H106 | 4,505 | 910,000 | SH | | DFND | 1 | 0 | 910,000 | 0 |
| Cellebrite DI Warrant | *W EXP 08/30/202 | M2197Q115 | 13 | 20,000 | SH | | DFND | 1 | 0 | 20,000 | 0 |
| Atlas Corp. | SHARES | Y0436Q109 | 2,398 | 172,500 | SH | | DFND | 1 | 0 | 172,500 | 0 |
