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
Expires: July 31, 2015
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACADEMY SPORTS & OUTDOORS IN COM 00402L107 4,381,388 96,062 SH OTR 1 96,062 0 0
ADVANCED ENERGY INDS COM 007973100 450,340 4,725 SH SOLE 4,725 0 0
AERCAP HOLDINGS NV SHS N00985106 11,090,247 108,547 SH OTR 1 108,547 0 0
AGNICO EAGLE MINES LTD COM 008474108 813,075 7,500 SH OTR 1 7,500 0 0
ALAMOS GOLD INCORPORATED COM CL A 011532108 1,270,150 47,500 SH OTR 1 47,500 0 0
ALGOMA STL GROUP INC COM 015658107 487,800 90,000 SH OTR 1 90,000 0 0
ALLISON TRANSMISSION HLDGS INC COM 01973R101 5,658,211 59,143 SH OTR 1 59,143 0 0
ALPHA TAU MEDICAL LTD *W EXP 99/99/999 M0740A116 11,880 50,000 SH OTR 1 50,000 0 0
AMKOR TECHNOLOGY INC COM 031652100 4,457,696 246,827 SH OTR 1 246,827 0 0
AMREP CORP NEW COM 032159105 473,594 23,621 SH SOLE 23,621 0 0
AMREP CORP NEW COM 032159105 10,040,759 500,786 SH OTR 1 500,786 0 0
APPLE INC COM 037833100 233,320 1,050 SH SOLE 1,050 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 9,953,683 345,015 SH OTR 1 345,015 0 0
ASBURY AUTOMOTIVE GROUP COM 043436104 4,476,427 20,270 SH OTR 1 20,270 0 0
ATKORE INC COM 047649108 749,875 12,500 SH OTR 1 12,500 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 12,100,439 96,850 SH SOLE 96,850 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 39,593,736 316,902 SH OTR 1 316,902 0 0
CACI INTL INC CL A 127190304 1,394,296 3,800 SH OTR 1 3,800 0 0
CANADIAN NAT RES LTD COM 136385101 8,790,751 285,414 SH OTR 1 285,414 0 0
CANADIAN NAT RES LTD COM 136385101 1,543,634 50,118 SH SOLE 50,118 0 0
CANADIAN SOLAR INC COM 136635109 17,300 2,000 SH SOLE 2,000 0 0
CANADIAN SOLAR INC COM 136635109 4,228,812 488,880 SH OTR 1 488,880 0 0
CAVCO INDS INC DEL COM 149568107 18,618,863 35,831 SH OTR 1 35,831 0 0
CAVCO INDS INC DEL COM 149568107 2,344,571 4,512 SH SOLE 4,512 0 0
CGI INC CL A SUB VTG 12532H104 1,347,705 13,500 SH OTR 1 13,500 0 0
CHAMPION HOMES INC COM 830830105 6,875,122 72,553 SH OTR 1 72,553 0 0
CLEVELAND-CLIFFS INC NEW COM 185599101 534,300 65,000 SH OTR 1 65,000 0 0
DANA HOLDING CORP COM 235825205 70,649 5,300 SH SOLE 5,300 0 0
DANA HOLDING CORP COM 235825205 2,228,349 167,168 SH OTR 1 167,168 0 0
DORCHESTER MINERALS COM 25820R105 75,952 2,525 SH SOLE 2,525 0 0
DORCHESTER MINERALS COM 25820R105 150,400 5,000 SH OTR 1 5,000 0 0
FIVE POINT HOLDINGS LLC COM 33833Q106 36,189,431 6,777,047 SH OTR 1 6,777,047 0 0
FIVE POINT HOLDINGS LLC COM 33833Q106 10,680 2,000 SH SOLE 2,000 0 0
FRP HLDGS INCORPORATED COM 30292L107 257,130 9,000 SH OTR 1 9,000 0 0
HILTON GRAND VACATIONS INC COM 43283X105 570,877 15,260 SH OTR 1 15,260 0 0
HUDBAY MINERALS INC COM 443628102 600,027 79,055 SH OTR 1 79,055 0 0
INSTEEL INDUSTRIES INC COM 45774W108 7,935,762 301,740 SH OTR 1 301,740 0 0
INTERNATIONAL BUSINESS MACHINES CORP COM 459200101 198,928 800 SH OTR 1 800 0 0
INTERNATIONAL BUSINESS MACHINES CORP COM 459200101 49,732 200 SH SOLE 200 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102 332,000 10,000 SH OTR 1 10,000 0 0
JEFFERIES FINL GROUP INC COM 47233W109 2,595,092 48,443 SH SOLE 48,443 0 0
JEFFERIES FINL GROUP INC COM 47233W109 15,807,703 295,085 SH OTR 1 295,085 0 0
LEGACY HOUSING CORP COM 52472M101 5,581,287 221,304 SH OTR 1 221,304 0 0
LINCOLN ELEC HLDGS INC COM 533900106 33,103 175 SH SOLE 175 0 0
LINCOLN ELEC HLDGS INC COM 533900106 9,443,435 49,923 SH OTR 1 49,923 0 0
LIQUIDITY SERVICES INC COM 53635B107 218,621 7,050 SH SOLE 7,050 0 0
LOUISIANA PAC CORP COM 546347105 7,276,170 79,106 SH OTR 1 79,106 0 0
LSB INDS INC COM 502160104 286,230 43,434 SH SOLE 43,434 0 0
LSB INDS INC COM 502160104 27,917,336 4,236,318 SH OTR 1 4,236,318 0 0
MANCHESTER UTD PLC NEW COM G5784H106 196,350 15,000 SH OTR 1 15,000 0 0
MERCK & CO INC NEW COM 58933Y105 269,280 3,000 SH OTR 1 3,000 0 0
MORGAN STANLEY COM NEW 617446448 25,084 215 SH SOLE 215 0 0
MORGAN STANLEY COM NEW 617446448 758,355 6,500 SH OTR 1 6,500 0 0
NATIONAL ENERGY SERVICES REU SHS G6375R107 73,600 10,000 SH SOLE 10,000 0 0
NAVIGATOR HOLDINGS PLC SHS Y62132108 9,789,918 735,531 SH OTR 1 735,531 0 0
NOBLE CORP NEW ORD SHS A G65431127 3,631,030 153,208 SH OTR 1 153,208 0 0
OLIN CORP NEW COM PAR $1 680665205 8,605 355 SH SOLE 355 0 0
OLIN CORP NEW COM PAR $1 680665205 2,795,526 115,327 SH OTR 1 115,327 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 717,000 50,000 SH OTR 1 50,000 0 0
PHX MINERALS INC CL A 69291A100 50,307 12,736 SH OTR 1 12,736 0 0
PHX MINERALS INC CL A 69291A100 17,542 4,441 SH SOLE 4,441 0 0
PREFORMED LINE PRODS CO COM 740444104 2,589,424 18,484 SH OTR 1 18,484 0 0
QUIPT HOME MEDICAL CORP COM 74880P104 41,472 17,799 SH OTR 1 17,799 0 0
RADNET INC COM 750491102 9,467,981 190,426 SH OTR 1 190,426 0 0
RADNET INC COM 750491102 134,244 2,700 SH SOLE 2,700 0 0
RANGER ENERGY SVCS INC COM CL A 75282U104 1,419,000 100,000 SH OTR 1 100,000 0 0
RYERSON HLDG CORP COM 783754104 596,960 26,000 SH OTR 1 26,000 0 0
SANDISK CORP COM 80004C200 31,708 666 SH SOLE 666 0 0
SANDISK CORP COM 80004C200 1,283,470 26,958 SH OTR 1 26,958 0 0
SEA LTD SPONSORED ADS 81141R100 1,957,350 15,000 SH OTR 1 15,000 0 0
SEACOR MARINE HOLDINGS INC COM 78413P101 4,277,678 845,391 SH OTR 1 845,391 0 0
SEACOR MARINE HOLDINGS INC COM 78413P101 1,498 296 SH SOLE 296 0 0
SEADRILL 2021 LTD COM G7997W102 401,250 16,050 SH OTR 1 16,050 0 0
SENECA FOODS CORP COM 817070501 9,794 110 SH SOLE 110 0 0
SENECA FOODS CORP COM 817070501 2,114,077 23,743 SH OTR 1 23,743 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 4,125,225 7,500 SH OTR 1 7,500 0 0
TECHNIPFMC PLC COM G87110105 5,546 175 SH SOLE 175 0 0
TECHNIPFMC PLC COM G87110105 6,429,647 202,892 SH OTR 1 202,892 0 0
TECK RESOURCES INC CL B 878742204 3,643,000 100,000 SH OTR 1 100,000 0 0
TIDEWATER INC COM 88642R109 7,960,117 188,316 SH SOLE 188,316 0 0
TIDEWATER INC COM 88642R109 112,789,675 2,668,315 SH OTR 1 2,668,315 0 0
TRAVEL PLUS LEISURE CO COM 894164102 5,786,898 125,014 SH OTR 1 125,014 0 0
U HAUL HOLDING COMPANY COM SER N 023586506 1,011,978 17,100 SH OTR 1 17,100 0 0
VALARIS LIMITED CL A G9460G101 2,062,092 52,524 SH OTR 1 52,524 0 0
WEST FRASER TIMBER CO LTD COM 952845105 22,379,769 290,873 SH OTR 1 290,873 0 0
WEST FRASER TIMBER CO LTD COM 952845105 468,180 6,085 SH SOLE 6,085 0 0
WESTERN DIGITAL CORP COM 958102105 80,860 2,000 SH SOLE 2,000 0 0
WESTERN DIGITAL CORP COM 958102105 3,417,548 84,530 SH OTR 1 84,530 0 0
WESTLAKE CHEM CORP COM 960413102 316,595 3,165 SH SOLE 3,165 0 0
WESTLAKE CHEM CORP COM 960413102 16,157,946 161,531 SH OTR 1 161,531 0 0