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
ACADEMY SPORTS & OUTDOORS IN COM 00402L107   2,675,608 53,555 SH   OTR 1 53,555 0 0
ADVANCED ENERGY INDS COM 007973100   570,533 2,725 SH   SOLE   2,725 0 0
AERCAP HOLDINGS NV SHS N00985106   15,371,394 106,924 SH   OTR 1 106,924 0 0
AGNICO EAGLE MINES LTD COM 008474108   830,697 4,900 SH   OTR 1 4,900 0 0
ALAMOS GOLD INCORPORATED COM CL A 011532108   887,340 23,000 SH   OTR 1 23,000 0 0
ALLISON TRANSMISSION HLDGS INC COM 01973R101   5,741,248 58,644 SH   OTR 1 58,644 0 0
ALPHA TAU MEDICAL LTD *W EXP 99/99/999 M0740A116   17,000 50,000 SH   OTR 1 50,000 0 0
AMKOR TECHNOLOGY INC COM 031652100   686,755 17,395 SH   OTR 1 17,395 0 0
AMREP CORP NEW COM 032159105   449,238 23,896 SH   SOLE   23,896 0 0
AMREP CORP NEW COM 032159105   9,359,937 497,869 SH   OTR 1 497,869 0 0
AMRIZE LTD SHS H2927K103   412,505 11,000 SH   OTR 1 11,000 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203   15,435,015 338,710 SH   OTR 1 338,710 0 0
ASBURY AUTOMOTIVE GROUP COM 043436104   4,750,820 20,431 SH   OTR 1 20,431 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107   9,745,226 94,715 SH   SOLE   94,715 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107   34,187,878 332,276 SH   OTR 1 332,276 0 0
CACI INTL INC CL A 127190304   1,918,116 3,600 SH   OTR 1 3,600 0 0
CANADIAN NAT RES LTD COM 136385101   9,402,661 277,589 SH   OTR 1 277,589 0 0
CANADIAN NAT RES LTD COM 136385101   1,655,896 48,886 SH   SOLE   48,886 0 0
CANADIAN SOLAR INC COM 136635109   8,142,889 342,570 SH   OTR 1 342,570 0 0
CAVCO INDS INC DEL COM 149568107   18,286,947 30,956 SH   OTR 1 30,956 0 0
CAVCO INDS INC DEL COM 149568107   440,101 745 SH   SOLE   745 0 0
CENTRAL SECURITIES CORP COM 155123102   221,907 4,376 SH   OTR 1 4,376 0 0
CGI INC CL A SUB VTG 12532H104   2,030,600 22,000 SH   OTR 1 22,000 0 0
CHAMPION HOMES INC COM 830830105   5,918,465 70,041 SH   OTR 1 70,041 0 0
CUMMINS INC COM 231021106   280,748 550 SH   SOLE   550 0 0
DANA HOLDING CORP COM 235825205   83,160 3,500 SH   SOLE   3,500 0 0
DANA HOLDING CORP COM 235825205   3,572,506 150,358 SH   OTR 1 150,358 0 0
FIVE POINT HOLDINGS LLC COM 33833Q106   23,562,241 6,962,320 SH   OTR 1 6,962,320 0 0
FIVE POINT HOLDINGS LLC COM 33833Q106   11,180 2,000 SH   SOLE   2,000 0 0
HILTON GRAND VACATIONS INC COM 43283X105   671,698 15,010 SH   OTR 1 15,010 0 0
HUDBAY MINERALS INC COM 443628102   1,091,750 55,000 SH   OTR 1 55,000 0 0
INSTEEL INDUSTRIES INC COM 45774W108   9,472,497 299,100 SH   OTR 1 299,100 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102   485,500 10,000 SH   OTR 1 10,000 0 0
JEFFERIES FINL GROUP INC COM 47233W109   2,254,035 36,373 SH   SOLE   36,373 0 0
JEFFERIES FINL GROUP INC COM 47233W109   187,198,790 292,561 SH   OTR 1 292,561 0 0
LEGACY HOUSING CORP COM 52472M101   3,706,204 189,867 SH   OTR 1 189,867 0 0
LINCOLN ELEC HLDGS INC COM 533900106   41,937 175 SH   SOLE   175 0 0
LINCOLN ELEC HLDGS INC COM 533900106   11,912,984 49,712 SH   OTR 1 49,712 0 0
LOUISIANA PAC CORP COM 546347105   6,399,503 79,241 SH   OTR 1 79,241 0 0
LSB INDS INC COM 502160104   333,659 39,254 SH   SOLE   39,254 0 0
LSB INDS INC COM 502160104   27,895,666 3,281,843 SH   OTR 1 3,281,843 0 0
MARKEL GROUP INC COM 570535104   214,965 100 SH   SOLE   100 0 0
MILLROSE PPTYS INC COM CL A 601137102   7,456,597 249,635 SH   OTR 1 249,635 0 0
MORGAN STANLEY COM NEW 617446448   1,153,945 6,500 SH   OTR 1 6,500 0 0
NAVIGATOR HOLDINGS PLC SHS Y62132108   9,275,397 535,531 SH   OTR 1 535,531 0 0
NOBLE CORP NEW ORD SHS A G65431127   4,141,904 146,668 SH   OTR 1 146,668 0 0
OLIN CORP NEW COM PAR $1 680665205   7,395 355 SH   SOLE   355 0 0
OLIN CORP NEW COM PAR $1 680665205   771,814 37,053 SH   OTR 1 37,053 0 0
ORLA MNG LTD NEW COM 68634K106   162,000 15,000 SH   OTR 1 15,000 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   592,500 50,000 SH   OTR 1 50,000 0 0
PREFORMED LINE PRODS CO COM 740444104   1,226,824 5,935 SH   OTR 1 5,935 0 0
QUIPT HOME MEDICAL CORP COM 74880P104   66,216 18,758 SH   OTR 1 18,758 0 0
RADNET INC COM 750491102   12,940,107 181,361 SH   OTR 1 181,361 0 0
RADNET INC COM 750491102   192,645 2,700 SH   SOLE   2,700 0 0
RANGER ENERGY SVCS INC COM CL A 75282U104   1,398,000 100,000 SH   OTR 1 100,000 0 0
SANDISK CORP COM 80004C200   158,095 666 SH   SOLE   666 0 0
SANDISK CORP COM 80004C200   4,379,186 18,448 SH   OTR 1 18,448 0 0
SCHLUMBERGER LIMITED COM 806857108   274,960 8,000 SH   OTR 1 8,000 0 0
SEA LTD SPONSORED ADS 81141R100   1,913,550 15,000 SH   OTR 1 15,000 0 0
SEACOR MARINE HOLDINGS INC COM 78413P101   5,072,753 842,650 SH   OTR 1 842,650 0 0
SEACOR MARINE HOLDINGS INC COM 78413P101   1,782 296 SH   SOLE   296 0 0
SEADRILL 2021 LTD COM G7997W102   654,286 18,910 SH   OTR 1 18,910 0 0
SENECA FOODS CORP COM 817070501   1,106 10 SH   SOLE   10 0 0
SENECA FOODS CORP COM 817070501   218,162 1,972 SH   OTR 1 1,972 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102   4,355,325 7,500 SH   OTR 1 7,500 0 0
TECHNIPFMC PLC COM G87110105   7,798 175 SH   SOLE   175 0 0
TECHNIPFMC PLC COM G87110105   6,954,747 156,076 SH   OTR 1 156,076 0 0
TECK RESOURCES INC CL B 878742204   4,789,000 100,000 SH   OTR 1 100,000 0 0
TIDEWATER INC COM 88642R109   10,851,720 214,843 SH   SOLE   214,843 0 0
TIDEWATER INC COM 88642R109   138,241,981 2,736,923 SH   OTR 1 2,736,923 0 0
TRAVEL PLUS LEISURE CO COM 894164102   8,660,308 122,789 SH   OTR 1 122,789 0 0
U HAUL HOLDING COMPANY COM SER N 023586506   1,869,600 40,000 SH   OTR 1 40,000 0 0
VALARIS LIMITED CL A G9460G101   2,733,898 54,244 SH   OTR 1 54,244 0 0
WEST FRASER TIMBER CO LTD COM 952845105   17,798,104 291,247 SH   OTR 1 291,247 0 0
WEST FRASER TIMBER CO LTD COM 952845105   310,928 5,088 SH   SOLE   5,088 0 0
WESTERN DIGITAL CORP COM 958102105   344,540 2,000 SH   SOLE   2,000 0 0
WESTERN DIGITAL CORP COM 958102105   14,269,641 82,833 SH   OTR 1 82,833 0 0
WESTLAKE CHEM CORP COM 960413102   234,020 3,165 SH   SOLE   3,165 0 0
WESTLAKE CHEM CORP COM 960413102   18,712,661 253,079 SH   OTR 1 253,079 0 0