The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Alphabet Inc. | CAP STK CL A | 02079K305 | 838,140 | 6,000 | SH | SOLE | 0 | 6,000 | 0 | 0 | |
| Amarin Corporation PLC | COM | 023111206 | 2,070,600 | 2,380,000 | SH | DFND | 1 | 0 | 2,380,000 | 0 | |
| Amazon.Com Inc. | COM | 023135106 | 1,519,400 | 10,000 | SH | SOLE | 0 | 10,000 | 0 | 0 | |
| Anterix Inc | COM | 03676C100 | 9,996,000 | 300,000 | SH | DFND | 1 | 0 | 300,000 | 0 | |
| Avidbank Holdings, Inc. | COM | 05368J103 | 1,674,553 | 78,360 | SH | DFND | 1 | 0 | 78,360 | 0 | |
| BKF Capital Group, Inc. | COM | 05548G201 | 712,465 | 29,380 | SH | DFND | 1 | 0 | 29,380 | 0 | |
| Brinker International, Inc. | COM | 109641100 | 4,318,000 | 100,000 | SH | DFND | 1 | 0 | 100,000 | 0 | |
| British American Tobacco - ADR | SPONSORED ADR | 110448107 | 439,350 | 15,000 | SH | SOLE | 0 | 15,000 | 0 | 0 | |
| CADELER A S | SPON ADR | 12738K109 | 5,331,234 | 289,741 | SH | DFND | 1 | 0 | 289,741 | 0 | |
| CALUMET SPECIALTY PRODS PART | UT LTD PARTNER | 131476103 | 9,822,335 | 549,655 | SH | DFND | 1 | 0 | 549,655 | 0 | |
| Chart Industries Inc. | COM | 16115Q308 | 2,709,831 | 19,877 | SH | DFND | 1 | 0 | 19,877 | 0 | |
| The Walt Disney Company | COM | 254687106 | 180,580 | 2,000 | SH | SOLE | 0 | 2,000 | 0 | 0 | |
| DocGo | COM | 256086109 | 195,834 | 35,033 | SH | SOLE | 0 | 35,033 | 0 | 0 | |
| ESAB CORPORATION | COM | 29605J106 | 2,936,418 | 33,900 | SH | DFND | 1 | 0 | 33,900 | 0 | |
| Farmers & Merchants Bank | COM | 308243104 | 1,040,578 | 203 | SH | SOLE | 0 | 203 | 0 | 0 | |
| FEDERAL LIFE GROUP INC | COM | 313533101 | 850 | 100 | SH | SOLE | 0 | 100 | 0 | 0 | |
| Standard Biotools Inc. | COM | 34385P108 | 2,166,021 | 980,100 | SH | DFND | 1 | 0 | 980,100 | 0 | |
| Great Lakes Dredge & Dock | COM | 390607109 | 7,940,152 | 1,033,874 | SH | DFND | 1 | 0 | 1,033,874 | 0 | |
| Gulf Coast Ultra Deep Rty Trust Unit | UNIT BEN INT | 40222T104 | 7,580 | 721,942 | SH | SOLE | 0 | 721,942 | 0 | 0 | |
| Gyrodyne, LLC | COM | 403829104 | 15,960 | 1,596 | SH | SOLE | 0 | 1,596 | 0 | 0 | |
| Helmerich & Payne Inc. | COM | 423452101 | 2,716,500 | 75,000 | SH | DFND | 1 | 0 | 75,000 | 0 | |
| Hugoton Realty Trust TEX Unit Ben Int | UNIT BEN INT | 444717102 | 108,551 | 190,440 | SH | SOLE | 0 | 190,440 | 0 | 0 | |
| IAC INC | COM NEW | 44891N208 | 2,192,155 | 41,851 | SH | DFND | 1 | 0 | 41,851 | 0 | |
| Intel Corp. | COM | 458140100 | 5,880,506 | 117,025 | SH | SOLE | 0 | 117,025 | 0 | 0 | |
| KKR & CO INC | COM | 48251W104 | 4,503,312 | 54,355 | SH | DFND | 1 | 0 | 54,355 | 0 | |
| Laboratory Corporation of America | COM | 50540R409 | 5,682,250 | 25,000 | SH | DFND | 1 | 0 | 25,000 | 0 | |
| Madison Square Garden Entertainment | COM CL A | 558256103 | 4,768,500 | 150,000 | SH | DFND | 1 | 0 | 150,000 | 0 | |
| Madison Square Garden Sports | CL A | 55825T103 | 4,818,495 | 26,500 | SH | DFND | 1 | 0 | 26,500 | 0 | |
| Mid-Southern Bancorp | COM | 59548Q107 | 1,715,188 | 169,485 | SH | DFND | 1 | 0 | 169,485 | 0 | |
| Mistras Group | COM | 60649T107 | 8,784,000 | 1,200,000 | SH | DFND | 1 | 0 | 1,200,000 | 0 | |
| Moderna | COM | 60770K107 | 99,450 | 1,000 | SH | SOLE | 0 | 1,000 | 0 | 0 | |
| Bunge Limited | COM | 616962105 | 20,190,000 | 200,000 | SH | DFND | 1 | 0 | 200,000 | 0 | |
| NI Holdings Inc. | COM | 65342T106 | 1,845,775 | 142,092 | SH | DFND | 1 | 0 | 142,092 | 0 | |
| PayPal Holdings | COM | 70450Y103 | 2,456,400 | 40,000 | SH | DFND | 1 | 0 | 40,000 | 0 | |
| Permian Basin Rlty Trust | UNIT BEN INT | 714236106 | 193,220 | 13,841 | SH | SOLE | 0 | 13,841 | 0 | 0 | |
| Plains All American Pipeline | UNIT LTD PARTN | 726503105 | 167,877 | 11,081 | SH | SOLE | 0 | 11,081 | 0 | 0 | |
| Positive Physicians Holdings Inc | COM | 73740G106 | 4,478 | 900 | SH | SOLE | 0 | 900 | 0 | 0 | |
| S&W Seed Company | COM | 785135104 | 12,213,758 | 17,448,226 | SH | DFND | 1 | 0 | 17,448,226 | 0 | |
| San Juan Basin Realty Trust Unit | UNIT BEN INT | 798241105 | 292,928 | 57,663 | SH | SOLE | 0 | 57,663 | 0 | 0 | |
| Sarcos Technology and Robotics | COM | 80359A106 | 141,704 | 196,457 | SH | DFND | 1 | 0 | 196,457 | 0 | |
| Sarcos Technology and Robotics | COM | 80359A106 | 57,823 | 80,165 | SH | SOLE | 0 | 80,165 | 0 | 0 | |
| SIGA Technologies | COM | 826917106 | 2,568,720 | 458,700 | SH | DFND | 1 | 0 | 458,700 | 0 | |
| Tejon Ranch Co. | COM | 879080109 | 1,101,832 | 64,060 | SH | DFND | 1 | 0 | 64,060 | 0 | |
| Trinity Place Holdings Inc. | COM | 89656D101 | 1,024,820 | 9,232,617 | SH | DFND | 1 | 0 | 9,232,617 | 0 | |
| Alkermes PLC | SHS | G01767105 | 3,190,100 | 115,000 | SH | DFND | 1 | 0 | 115,000 | 0 | |
| Mural Oncology PLC | ORD SHS | G63365103 | 68,080 | 11,500 | SH | DFND | 1 | 0 | 11,500 | 0 | |
| FRONTLINE PLC | COM | M46528101 | 2,780,935 | 138,700 | SH | DFND | 1 | 0 | 138,700 | 0 | |
| GENCO SHIPPING & TRADING LTD | SHS | Y2685T131 | 1,979,187 | 119,300 | SH | DFND | 1 | 0 | 119,300 | 0 | |
| INTERNATIONAL SEAWAYS INC | COM | Y41053102 | 2,988,036 | 65,700 | SH | DFND | 1 | 0 | 65,700 | 0 | |
| SCORPIO TANKERS INC | SHS | Y7542C130 | 2,006,400 | 33,000 | SH | DFND | 1 | 0 | 33,000 | 0 | |