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
ACRES COMMERCIAL REALTY CORP COM NEW 00489Q102   250,574 11,742 SH   SOLE   11,742 0 0
ALIGHT INC COM CL A 01626W101   651,530 334,118 SH   SOLE   334,118 0 0
ALTENERGY ACQUISITION CORP *W EXP 10/29/202 02157M116   3,624 20,000 SH   SOLE   20,000 0 0
AMBAC FINL GROUP INC COM NEW 023139884   271,055 34,840 SH   SOLE   34,840 0 0
AMERICAN VANGUARD CORP COM 030371108   2,184,203 571,781 SH   SOLE   571,781 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   892,767 69,422 SH   SOLE   69,422 0 0
API GROUP CORP COM STK 00187Y100   9,180,717 239,956 SH   SOLE   239,956 0 0
ASHLAND INC COM 044186104   1,751,886 29,860 SH   SOLE   29,860 0 0
ASHLAND INC - CALL CALL 044186904   2,852,500 1,500 SH   SOLE   1,500 0 0
BAIRD MED INVT HLDGS LTD *W EXP 10/01/202 G0705H111   1,355 25,000 SH   SOLE   25,000 0 0
BANC OF CALIFORNIA INC COM 05590K106   482,250 25,000 SH   SOLE   25,000 0 0
BCP INVESTMENT CORPORATION COM NEW 73688F201   241,746 20,435 SH   SOLE   20,435 0 0
BENEFICIENT *W EXP 06/07/202 08178Q119   517 48,750 SH   SOLE   48,750 0 0
CECO ENVIRONMENTAL CORP COM 125141101   265,195 4,431 SH   SOLE   4,431 0 0
CHART INDS INC COM 16115Q308   453,706 2,200 SH   SOLE   2,200 0 0
COMPOSECURE INC COM CL A 20459V105   267,529 13,876 SH   SOLE   13,876 0 0
COMSTOCK INC COM SHS 205750409   190,918 50,776 SH   SOLE   50,776 0 0
CRH PLC ORD G25508105   7,836,317 62,791 SH   SOLE   62,791 0 0
DUOS TECHNOLOGIES GROUP INC COM 266042407   168,503 14,978 SH   SOLE   14,978 0 0
ENVIRI CORP COM 415864107   957,842 53,451 SH   SOLE   53,451 0 0
FEDERAL AGRIC MTG CORP CL C 313148306   1,623,847 9,249 SH   SOLE   9,249 0 0
FTAI AVIATION LTD SHS G3730V105   33,502,295 170,192 SH   SOLE   170,192 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   2,708,638 587,557 SH   SOLE   587,557 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104   5,058,093 117,767 SH   SOLE   117,767 0 0
GREAT ELM CAP CORP COM NEW 390320703   921,676 130,827 SH   SOLE   130,827 0 0
GREEN DOT CORP CL A 39304D102   941,535 73,500 SH   SOLE   73,500 0 0
IDENTIV INC COM NEW 45170X205   122,028 31,778 SH   SOLE   31,778 0 0
INFRARED CAMERAS HLDGS INC *W EXP 12/19/202 456948116   1,065 37,500 SH   SOLE   37,500 0 0
KINGSTONE COS INC COM 496719105   5,789,840 344,019 SH   SOLE   344,019 0 0
LAKELAND INDS INC COM 511795106   88,400 10,000 SH   SOLE   10,000 0 0
LIGHTWAVE LOGIC INC COM 532275104   243,000 75,000 SH   SOLE   75,000 0 0
MODINE MFG CO COM 607828100   667,550 5,000 SH   SOLE   5,000 0 0
NEBIUS GROUP N.V. SHS CLASS A N97284108   4,427,995 52,900 SH   SOLE   52,900 0 0
NEURONETICS INC COM 64131A105   67,482 48,900 SH   SOLE   48,900 0 0
NEXTNAV INC COMMON STOCK 65345N106   1,478,531 88,854 SH   SOLE   88,854 0 0
OCTAVE SPECIALTY GROUP INC COM NEW 023139884   562,494 72,300 SH   SOLE   72,300 0 0
ORION GROUP HLDGS INC COM 68628V308   2,426,394 244,104 SH   SOLE   244,104 0 0
PITNEY BOWES INC COM 724479100   664,916 62,906 SH   SOLE   62,906 0 0
PRIMO BRANDS CORPORATION CLASS A COM SHS 741623102   163,500 10,000 SH   SOLE   10,000 0 0
PYROPHYTE ACQUISITION CORP *W EXP 05/03/202 G7308P127   16,875 37,500 SH   SOLE   37,500 0 0
QXO INC COM NEW 82846H405   551,500 10,000 SH   SOLE   10,000 0 0
RESERVOIR MEDIA INC *W EXP 08/26/202 76119X113   8,541 30,503 SH   SOLE   30,503 0 0
SCILEX HOLDING CO *W EXP 11/10/202 80880W114   4,745 49,999 SH   SOLE   49,999 0 0
SEASTAR MEDICAL HOLDING CORP *W EXP 10/28/202 81256L112   367 32,473 SH   SOLE   32,473 0 0
SEQLL INC *W EXP 08/31/202 81734C114   147 70,000 SH   SOLE   70,000 0 0
SKILLSOFT CORP CL A 83066P309   537,484 57,794 SH   SOLE   57,794 0 0
SPDR S&P 500 ETF TR - PUT PUT 78462F953   20,704,300 1,000 SH   SOLE   1,000 0 0
SPROTT FDS TR URANIUM MINERS E 85208P303   548,900 10,000 SH   SOLE   10,000 0 0
SPROTT FDS TRUST URANIUM MINERS E 85210A104   1,308,233 67,100 SH   SOLE   67,100 0 0
SUNOPTA INC COM 8676EP108   513,000 135,000 SH   SOLE   135,000 0 0
THE BEACHBODY COMPANY INC COM CL A NEW 073463309   205,439 19,830 SH   SOLE   19,830 0 0
TIC SOLUTIONS INC COM 00510N102   2,324,673 229,938 SH   SOLE   229,938 0 0
UNITEDHEALTH GROUP INC COM 91324P102   660,220 2,000 SH   SOLE   2,000 0 0
USA TODAY CO INC COM 36472T109   57,036 11,075 SH   SOLE   11,075 0 0
VALLEY NATL BANCORP COM 919794107   144,820 12,399 SH   SOLE   12,399 0 0