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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Allison Transmission Holdings, Inc. COM 01973R101 894 22,500 SH   DFND 1 0 22,500 0
Alphabet Inc. CAP STK CL A 02079K305 8,058 3,300 SH   DFND 1 0 3,300 0
Alphabet Inc. CAP STK CL A 02079K305 7,325 3,000 SH   SOLE 0 3,000 0 0
Amazon.Com Inc. COM 023135106 12,041 3,500 SH   SOLE 0 3,500 0 0
Amerant Bancorp Inc. COM 023576101 6,029 281,996 SH   DFND 1 0 281,996 0
Amerant Bancorp Inc. B Shares COM 023576200 3,265 167,083 SH   DFND 1 0 167,083 0
Anterix Inc COM 03676C100 33,654 561,000 SH   DFND 1 0 561,000 0
At Home Group Inc COM 04650Y100 5,526 150,000 SH   DFND 1 0 150,000 0
Atlantic Capital Bancshares COM 048269203 24,189 950,093 SH   DFND 1 0 950,093 0
BCB Bancorp, Inc. COM 055298103 13,730 1,020,808 SH   DFND 1 0 1,020,808 0
BKF Capital Group, Inc. COM 05548G201 353 29,380 SH   DFND 1 0 29,380 0
BRT Realty Trust COM 055645303 768 44,317 SH   DFND 1 0 44,317 0
Baker Hughes Company COM 05722G100 114 5,000 SH   SOLE 0 5,000 0 0
The Bancorp Bank COM 05969A105 9,377 407,500 SH   DFND 1 0 407,500 0
Banc of California, Inc. COM 05990K106 19,935 1,136,532 SH   DFND 1 0 1,136,532 0
Bank of San Francisco COM 064774102 2,685 102,687 SH   DFND 1 0 102,687 0
Bausch Health Companies Inc. COM 071734107 3,592 122,500 SH   DFND 1 0 122,500 0
Blackberry Limited COM 09228F103 9,776 800,000 SH   DFND 1 0 800,000 0
Blackberry Limited COM 09228F103 611 50,000 SH   SOLE 0 50,000 0 0
British American Tobacco - ADR SPONSORED ADR 110448107 590 15,000 SH   SOLE 0 15,000 0 0
CIBL, Inc. COM 12543Y104 371 215 SH   DFND 1 0 215 0
CIT Group Inc. COM NEW 125581801 32,791 635,600 SH   DFND 1 0 635,600 0
CIT Group Inc. COM NEW 125581801 516 10,000 SH   SOLE 0 10,000 0 0
CM Life Sciences III Inc UNIT 04/30/2028 125841205 5,475 500,000 SH   DFND 1 0 500,000 0
CM Life Sciences II - A CL A 125842104 3,678 300,000 SH   DFND 1 0 300,000 0
CM Life Sciences II WTS *W EXP 03/01/202 125842112 324 60,000 SH   DFND 1 0 60,000 0
Camden Property Trust SH BEN INT 133131102 2,653 20,000 SH   DFND 1 0 20,000 0
Carbon Energy Corp COM 14115T208 174 52,778 SH   DFND 1 0 52,778 0
Carter Bankshares COM 146103106 1,982 158,400 SH   DFND 1 0 158,400 0
Constellation Brands COM 21036P108 819 3,500 SH   DFND 1 0 3,500 0
Continental Resources Inc. COM 212015101 761 20,000 SH   SOLE 0 20,000 0 0
Crimson Wine Group Ltd. COM 22662X100 10,443 1,142,600 SH   DFND 1 0 1,142,600 0
Crown Holdings, Inc. COM 228368106 1,022 10,000 SH   DFND 1 0 10,000 0
Devon Energy Corp. New COM 25179M103 701 24,000 SH   SOLE 0 24,000 0 0
Discovery INC - A COM SER A 25470F104 1,687 55,000 SH   DFND 1 0 55,000 0
Discovery INC - C COM SER C 25470F302 2,898 100,000 SH   DFND 1 0 100,000 0
Dolby Laboratories Inc. COM CL A 25659T107 21,267 216,369 SH   DFND 1 0 216,369 0
Dolby Laboratories Inc. COM CL A 25659T107 320 3,255 SH   SOLE 0 3,255 0 0
Dow Inc. COM 260557103 1,279 20,212 SH   SOLE 0 20,212 0 0
Du Pont E I De Nemours & Co COM 26614N102 1,565 20,212 SH   SOLE 0 20,212 0 0
Edgewell Personal Care Company COM 28035Q102 2,165 49,307 SH   DFND 1 0 49,307 0
eHealth, Inc. COM 28238P109 2,920 50,000 SH   DFND 1 0 50,000 0
Equity Residential SH BEN INT 29476L107 2,310 30,000 SH   DFND 1 0 30,000 0
ES Bancshares, Inc COM 296049109 3,258 658,183 SH   DFND 1 0 658,183 0
EXFO, Inc. SUB VTG SHS 302046107 1,190 200,000 SH   DFND 1 0 200,000 0
Exxon Mobil Corp. COM 30231G102 694 11,000 SH   SOLE 0 11,000 0 0
FFBW Inc. COM 30260M103 3,340 293,022 SH   DFND 1 0 293,022 0
Facebook Inc. COM 30303M102 3,614 10,395 SH   SOLE 0 10,395 0 0
Falcon Capital Acquisition Corp COM CL A 30606L108 657 70,757 SH   DFND 1 0 70,757 0
Falcon Capital Acquisition Warrant 8/20/27 *W EXP 08/20/202 30606L116 48 26,666 SH   DFND 1 0 26,666 0
Farmers & Merchants Bank COM 308243104 1,665 203 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
Ferrellgas Partners, LP LTD PARTNR INT 315293209 793 33,896 SH   DFND 1 0 33,896 0
First Bank COM 31931U102 2,709 200,100 SH   DFND 1 0 200,100 0
First Citizens BancShares COM 31946M202 583 777 SH   DFND 1 0 777 0
First of Long Island Corp COM 320734106 1,805 85,000 SH   DFND 1 0 85,000 0
Franklin Resources Inc. COM 354613101 12,796 400,000 SH   DFND 1 0 400,000 0
Franklin Resources Inc. COM 354613101 1,201 37,530 SH   SOLE 0 37,530 0 0
GAMCO Investors, Inc. COM 361438104 1,584 63,124 SH   DFND 1 0 63,124 0
Goldman Sachs Group Inc. COM 38141G104 1,898 5,000 SH   SOLE 0 5,000 0 0
W.R. Grace & Co. COM 38388F108 17,626 255,000 SH   DFND 1 0 255,000 0
Great Lakes Dredge & Dock COM 390607109 731 50,000 SH   DFND 1 0 50,000 0
Groupon, Inc. COM 399473107 432 10,000 SH   SOLE 0 10,000 0 0
Gulf Coast Ultra Deep Rty Trust Unit UNIT BEN INT 40222T104 125 5,000,000 SH   DFND 1 0 5,000,000 0
Gulf Coast Ultra Deep Rty Trust Unit UNIT BEN INT 40222T104 18 721,942 SH   SOLE 0 721,942 0 0
Gyrodyne, LLC COM 403829104 1,077 80,850 SH   DFND 1 0 80,850 0
Gyrodyne, LLC COM 403829104 62 4,658 SH   SOLE 0 4,658 0 0
Helmerich & Payne Inc. COM 423452101 3,263 100,000 SH   DFND 1 0 100,000 0
Hess Corporation COM 42809H107 1,596 18,282 SH   SOLE 0 18,282 0 0
Hexcel Corp COM 428291108 12,355 198,000 SH   DFND 1 0 198,000 0
Highwoods Properties COM 431284108 474 10,483 SH   DFND 1 0 10,483 0
Hugoton Realty Trust TEX Unit Ben Int COM 444717102 1 8,719 SH   DFND 1 0 8,719 0
Hugoton Realty Trust TEX Unit Ben Int UNIT BEN INT 444717102 27 190,440 SH   SOLE 0 190,440 0 0
ICC Holdings, Inc. COM 44931Q104 795 49,630 SH   DFND 1 0 49,630 0
Intel Corp. COM 458140100 47,298 842,500 SH   DFND 1 0 842,500 0
Intel Corp. COM 458140100 66,640 1,187,025 SH   SOLE 0 1,187,025 0 0
Investors Bancorp, Inc. COM 46146L101 9,554 670,000 SH   DFND 1 0 670,000 0
Ironwood Pharmaceuticals COM CL A 46333X108 6,692 520,000 SH   DFND 1 0 520,000 0
Jefferies Financial Group COM 47233W109 2,651 77,500 SH   DFND 1 0 77,500 0
Kansas City Southern COM PAR $0.01 485170302 29,754 105,000 SH   DFND 1 0 105,000 0
Kearny Financial Corp. COM NEW 48716P108 2,242 187,646 SH   DFND 1 0 187,646 0
Kohl's Corp. COM 500255104 2,756 50,000 SH   DFND 1 0 50,000 0
LICT Corp. COM 50187G104 6,600 275 SH   DFND 1 0 275 0
Laboratory Corporation of America COM 50540R409 27,585 100,000 SH   DFND 1 0 100,000 0
Las Vegas Sands Corp. COM 517834107 221 4,195 SH   SOLE 0 4,195 0 0
Loral Space & Communications Inc. COM NEW 543881106 8,024 206,542 SH   DFND 1 0 206,542 0
Madison Square Garden Sports COM 55825T103 1,639 9,500 SH   DFND 1 0 9,500 0
Madison Square Garden Sports CL A 55825T103 106 612 SH   SOLE 0 612 0 0
Madison Square Garden Entertainment COM 55826T102 3,149 37,500 SH   DFND 1 0 37,500 0
Madison Square Garden Entertainment CL A 55826T102 51 612 SH   SOLE 0 612 0 0
Meridian Corp. COM 58958P104 7,088 270,000 SH   DFND 1 0 270,000 0
Mid-Southern Bancorp COM 59548Q107 2,695 169,485 SH   DFND 1 0 169,485 0
Bunge Limited COM 616962105 30,869 395,000 SH   DFND 1 0 395,000 0
Bunge Limited COM 616962105 3,126 40,000 SH   SOLE 0 40,000 0 0
Nathans Famous Inc. COM 632347100 761 10,675 SH   DFND 1 0 10,675 0
New Senior Investment Group COM 648691103 88 10,000 SH   DFND 1 0 10,000 0
News Corp COM 65249B109 11,983 465,000 SH   DFND 1 0 465,000 0
NI Holdings Inc. COM 65342T106 10,052 528,791 SH   DFND 1 0 528,791 0
Northeast Bancorp COM 663904209 6,919 231,637 SH   DFND 1 0 231,637 0
One Liberty Properties, Inc. COM 682406103 7,835 275,963 SH   DFND 1 0 275,963 0
PDL Community Bancorp COM 69290X101 1,158 84,804 SH   DFND 1 0 84,804 0
PG&E Corporation COM 69331C108 51 5,000 SH   DFND 1 0 5,000 0
Palantir Tech CL A 69608A108 732 27,769 SH   SOLE 0 27,769 0 0
Park Aerospace Corp COM 70014A104 1,811 121,522 SH   DFND 1 0 121,522 0
Party City Holdco COM 702149105 2,333 250,000 SH   DFND 1 0 250,000 0
Peapack-Gladstone Financial Corp. COM 704699107 4,525 145,650 SH   DFND 1 0 145,650 0
Permian Basin Rlty Trust UNIT BEN INT 714236106 78 13,841 SH   SOLE 0 13,841 0 0
Plains All American Pipeline UNIT LTD PARTN 726503105 4,629 407,500 SH   DFND 1 0 407,500 0
Plains All American Pipeline UNIT LTD PARTN 726503105 126 11,081 SH   SOLE 0 11,081 0 0
Plains GP Holdings LP LTD PARTNR INT A 72651A207 1,985 166,130 SH   DFND 1 0 166,130 0
Plains GP Holdings LP LTD PARTNR INT A 72651A207 1,128 94,388 SH   SOLE 0 94,388 0 0
Popular, Inc. COM UNIT RP IN 733174700 23,513 313,296 SH   DFND 1 0 313,296 0
Positive Phyisicians Holdings Inc COM 73740G106 5 450 SH   DFND 1 0 450 0
Positive Phyisicians Holdings Inc COM 73740G106 5 450 SH   SOLE 0 450 0 0
Provident Bancorp Inc COM NEW 74383L105 938 57,500 SH   DFND 1 0 57,500 0
QualComm Inc. COM 747525103 105 732 SH   SOLE 0 732 0 0
Resources Connection Inc COM 76122q105 790 55,000 SH   DFND 1 0 55,000 0
Ruth's Hospitality Group, Inc. COM 783332109 2,229 96,800 SH   DFND 1 0 96,800 0
S&W Seed Company COM 785135104 58,425 16,050,785 SH   DFND 1 0 16,050,785 0
William H. Sadlier, Inc. COM 786327106 711 21,217 SH   DFND 1 0 21,217 0
San Juan Basin Realty Trust Unit UNIT BEN INT 798241105 515 100,240 SH   SOLE 0 100,240 0 0
Scholastic Corporation COM 807066105 12,193 321,808 SH   DFND 1 0 321,808 0
SIGA Technologies COM 826917106 7,573 1,205,900 SH   DFND 1 0 1,205,900 0
Skyworks Solutions Inc. COM 83088M102 371 1,936 SH   SOLE 0 1,936 0 0
SolarWinds COM 83417Q204 3,125 185,000 SH   DFND 1 0 185,000 0
Starboard Value Acq Corp COM CL A 85521J109 1,500 150,000 SH   DFND 1 0 150,000 0
Steel Holdings LP Ltd Prshp Unit LTD PRTRSHIP U 85814R107 168 5,773 SH   SOLE 0 5,773 0 0
Tastemaker Acquisition Corp COM CL A 876545104 592 60,875 SH   DFND 1 0 60,875 0
Tastemaker ACQ WNT *W EXP 01/07/202 876545112 23 30,437 SH   DFND 1 0 30,437 0
Tejon Ranch Co. COM 879080109 6,974 458,523 SH   DFND 1 0 458,523 0
Texas Capital Bancshares, Inc. COM 88224Q107 13,809 217,500 SH   DFND 1 0 217,500 0
Textron, Inc. COM 883203101 6,877 100,000 SH   DFND 1 0 100,000 0
Tidewater Warrant Exp 11/24/24 *W EXP 11/24/202 88642R174 2 7,444 SH   DFND 1 0 7,444 0
Traditions Bancorp Inc COM 89269L102 3,156 144,100 SH   DFND 1 0 144,100 0
Trinity Place Holdings Inc. COM 89656D101 14,155 6,708,538 SH   DFND 1 0 6,708,538 0
TWC Tech Holdings II Corp COM 90117G105 596 60,000 SH   DFND 1 0 60,000 0
TWC Tech Holdings Warrant 9/15/27 *W EXP 09/15/202 90117G113 35 20,000 SH   DFND 1 0 20,000 0
Twitter COM 90184L102 20,643 300,000 SH   DFND 1 0 300,000 0
ViasSat, Inc. COM 92552v100 1,545 31,000 SH   DFND 1 0 31,000 0
Viemed Healthcare COM 92663R105 6,009 840,476 SH   DFND 1 0 840,476 0
Vornado Realty Trust SH BEN INT 929042109 5,125 109,814 SH   DFND 1 0 109,814 0
Waterstone Financial Inc. COM 94188P101 11,291 574,300 SH   DFND 1 0 574,300 0
Wells Fargo & Co. COM 949746101 9,058 200,000 SH   DFND 1 0 200,000 0
Westlake Chemical Corp. COM 960413102 6,937 77,000 SH   DFND 1 0 77,000 0
William Penn Bancorp COM 96927A105 5,415 455,000 SH   DFND 1 0 455,000 0
Wright Investors Service Holdings COM 982345100 146 594,097 SH   DFND 1 0 594,097 0
Alkermes PLC SHS G01767105 12,260 500,000 SH   DFND 1 0 500,000 0
Brookfield Property Partners LP UNIT LTD PARTN G16249107 3,381 178,400 SH   DFND 1 0 178,400 0
Genesis Park Acquisition SHS CL A G38245109 1,031 100,000 SH   DFND 1 0 100,000 0
Invesco Ltd. SHS G491BT108 2,948 110,300 SH   DFND 1 0 110,300 0
Nielsen Holdings PLC SHS EUR G6518L108 5,239 212,368 SH   DFND 1 0 212,368 0
Sarissa Capital Acquisition Corp CL A G7823W102 645 65,000 SH   DFND 1 0 65,000 0
Sarissa Capital Acq Warrants 10/23/27 *W EXP 10/23/202 G7823W110 29 21,666 SH   DFND 1 0 21,666 0
Pioneer Merger Corp. CL A SHS G7S24C103 991 100,000 SH   DFND 1 0 100,000 0
Pioneer Merger Corp Warrant 1/7/26 *W EXP 01/07/202 G7S24C111 54 33,332 SH   DFND 1 0 33,332 0
TechnipFMC plc COM G87110105 2,258 249,500 SH   DFND 1 0 249,500 0
Chubb Limited COM h1467j104 4,053 25,500 SH   DFND 1 0 25,500 0
Atlas Corp. SHARES Y0436Q109 641 45,000 SH   DFND 1 0 45,000 0