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
ARCHER AVIATION INC COM CL A 03945R102   191,526 132,002 SH   SOLE 0 132,002 0 0
ARCHER AVIATION INC COM CL A 03945R102   38,029 13,297 SH   OTR 1 13,297 0 0
BEAZER HOMES USA INC COM NEW 07556Q881   1,039,648 65,469 SH   SOLE 0 65,469 0 0
BEAZER HOMES USA INC COM NEW 07556Q881   357,951 22,541 SH   OTR 1 22,541 0 0
CATO CORP NEW CL A 149205106   2,102,223 237,808 SH   SOLE 0 237,808 0 0
CATO CORP NEW CL A 149205106   714,661 80,844 SH   OTR 1 80,844 0 0
CHICKEN SOUP FOR THE SOUL EN CL A 16842Q100   485,266 242,633 SH   SOLE 0 242,633 0 0
CHICKEN SOUP FOR THE SOUL EN CL A 16842Q100   166,906 83,453 SH   OTR 1 83,453 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107   1,309,359 969,896 SH   SOLE 0 969,896 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107   470,594 348,588 SH   OTR 1 348,588 0 0
EMERALD HOLDING INC COM 29103W104   2,233,659 600,446 SH   SOLE 0 600,446 0 0
EMERALD HOLDING INC COM 29103W104   783,648 210,658 SH   OTR 1 210,658 0 0
ENETI INC COM Y2294C107   1,207,656 129,161 SH   SOLE 0 129,161 0 0
ENETI INC COM Y2294C107   419,048 44,818 SH   OTR 1 44,818 0 0
EXPRESS INC COM 30219E103   564,482 716,075 SH   SOLE 0 716,075 0 0
EXPRESS INC COM 30219E103   192,408 244,080 SH   OTR 1 244,080 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100   1,456,359 104,100 SH Put SOLE 0 0 0 104,100
FIRST REP BK SAN FRANCISCO C COM 33616C100   502,241 35,900 SH Put OTR 1 0 0 35,900
GILDAN ACTIVEWEAR INC COM 375916103   2,352,043 70,866 SH   SOLE 0 70,866 0 0
GILDAN ACTIVEWEAR INC COM 375916103   864,168 26,037 SH   OTR 1 26,037 0 0
GRANITE PT MTG TR INC COM STK 38741L107   115,151 23,216 SH   OTR 1 23,216 0 0
INSPIRED ENTMT INC COM 45782N108   3,330,452 260,395 SH   SOLE 0 260,395 0 0
INSPIRED ENTMT INC COM 45782N108   1,279,985 100,077 SH   OTR 1 100,077 0 0
KARAT PACKAGING INC COM 48563L101   965,852 72,457 SH   SOLE 0 72,457 0 0
KARAT PACKAGING INC COM 48563L101   332,490 24,943 SH   OTR 1 24,943 0 0
M/I HOMES INC COM 55305B101   7,562,661 119,871 SH   SOLE 0 119,871 0 0
M/I HOMES INC COM 55305B101   2,774,635 43,979 SH   OTR 1 43,979 0 0
MISTRAS GROUP INC COM 60649T107   906,187 133,656 SH   SOLE 0 133,656 0 0
MISTRAS GROUP INC COM 60649T107   427,269 63,019 SH   OTR 1 63,019 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62197119   418,006 230,943 SH   SOLE 0 230,943 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62197119   159,418 88,076 SH   OTR 1 88,076 0 0
NAVIOS MARITIME PARTNERS L P COM UNIT LPI Y62267409   3,739,830 155,051 SH   SOLE 0 155,051 0 0
NAVIOS MARITIME PARTNERS L P COM UNIT LPI Y62267409   1,546,068 64,099 SH   OTR 1 64,099 0 0
PACWEST BANCORP DEL COM 695263103   1,372,903 141,100 SH Put SOLE 0 0 0 141,100
PACWEST BANCORP DEL COM 695263103   475,797 48,900 SH Put OTR 1 0 0 48,900
POLISHED COM INC COM 28252C109   77,671 149,339 SH   SOLE 0 149,339 0 0
POLISHED COM INC COM 28252C109   26,349 50,661 SH   OTR 1 50,661 0 0
POLISHED COM INC *W EXP 06/02/202 28252C117   61,577 622,622 SH   SOLE 0 622,622 0 0
POLISHED COM INC *W EXP 06/02/202 28252C117   21,306 215,428 SH   OTR 1 215,428 0 0
SAFE BULKERS INC COM Y7388L103   2,612,103 707,887 SH   SOLE 0 707,887 0 0
SAFE BULKERS INC COM Y7388L103   893,397 242,113 SH   OTR 1 242,113 0 0
TEXTAINER GROUP HOLDINGS LTD SHS G8766E109   4,189,681 130,479 SH   SOLE 0 130,479 0 0
TEXTAINER GROUP HOLDINGS LTD SHS G8766E109   1,500,211 46,721 SH   OTR 1 46,721 0 0
WESTERN ALLIANCE BANCORP COM 957638109   6,205,284 174,600 SH Put SOLE 0 0 0 174,600
WESTERN ALLIANCE BANCORP COM 957638109   2,150,170 60,500 SH Put OTR 1 0 0 60,500