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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   3,593,053 68,387 SH   SOLE   68,387 0 0
AFRICAN GOLD ACQUISITION COR SHS CL A G0112R108   6,844,110 681,006 SH   SOLE   681,006 0 0
AGNICO EAGLE MINES LTD COM 008474108   2,565,655 49,349 SH   SOLE   49,349 0 0
ALAMOS GOLD INC NEW COM CL A 011532108   1,873,383 185,300 SH   SOLE   185,300 0 0
ALTENERGY ACQUISITION CORP UNIT 10/29/2026 02157M207   1,723,168 168,938 SH   SOLE   168,938 0 0
ANTERO RESOURCES CORP COM 03674X106   3,931,670 126,869 SH   SOLE   126,869 0 0
APPLIED DIGITAL CORP COM NEW 038169207   5,632,286 3,061,025 SH   SOLE   3,061,025 0 0
B RILEY PRIN 250 MERGER CORP CLASS A COM 05602L104   8,660,210 869,499 SH   SOLE   869,499 0 0
B RILEY PRIN 250 MERGER CORP *W EXP 04/01/202 05602L112   11,872 395,717 SH   SOLE   395,717 0 0
B. RILEY FINANCIAL INC COM 05580M108   13,696,382 400,479 SH   SOLE   400,479 0 0
B. RILEY FINANCIAL INC COM 05580M108   3,201,120 93,600 SH Call SOLE   93,600 0 0
BLUEGREEN VACATIONS HLDG COR CLASS A 096308101   4,851,625 194,376 SH   SOLE   194,376 0 0
BLUELINX HLDGS INC COM NEW 09624H208   30,552,127 429,646 SH   SOLE   429,646 0 0
CENTURY CASINOS INC COM 156492100   2,371,669 337,364 SH   SOLE   337,364 0 0
CHAVANT CAPITAL ACQUISITN CO UNIT 07/16/2026 G2058L129   425,325 40,125 SH   SOLE   40,125 0 0
CLEARFIELD INC COM 18482P103   1,967,526 20,900 SH   SOLE   20,900 0 0
COLOMBIER ACQUISITION CORP CL A 19533H108   2,475,289 249,023 SH   SOLE   249,023 0 0
COLOMBIER ACQUISITION CORP *W EXP 99/99/999 19533H116   7,139 83,007 SH   SOLE   83,007 0 0
DEVON ENERGY CORP NEW COM 25179M103   6,927,072 112,617 SH   SOLE   112,617 0 0
DIAMONDBACK ENERGY INC COM 25278X109   8,905,883 65,111 SH   SOLE   65,111 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   1,530,981 128,979 SH   SOLE   128,979 0 0
ETF MANAGERS TR PRIME JUNIR SLVR 26924G102   2,313,182 219,259 SH   SOLE   219,259 0 0
FAZE HOLDINGS INC *W EXP 03/01/202 31423J110   5,651 44,813 SH   SOLE   44,813 0 0
FERROGLOBE PLC SHS G33856108   5,404,438 1,403,750 SH   SOLE   1,403,750 0 0
GLOBAL SHIP LEASE INC NEW COM CL A Y27183600   23,116,527 1,388,380 SH   SOLE   1,388,380 0 0
HECLA MNG CO COM 422704106   567,798 102,122 SH   SOLE   102,122 0 0
INSPIRED ENTMT INC COM 45782N108   3,697,385 291,822 SH   SOLE   291,822 0 0
KIMBELL RTY PARTNERS LP UNIT 49435R102   6,340,539 379,673 SH   SOLE   379,673 0 0
LANDSEA HOMES CORP COM 51509P103   1,606,800 308,407 SH   SOLE   308,407 0 0
LAZYDAYS HLDGS INC COM 52110H100   5,872,868 491,865 SH   SOLE   491,865 0 0
MACONDRAY CAP ACQUISITN CORP CLASS A ORD SHS G5853A107   1,966,690 193,002 SH   SOLE   193,002 0 0
MACONDRAY CAP ACQUISITN CORP *W EXP 05/31/202 G5853A115   19 64,334 SH   SOLE   64,334 0 0
MACONDRAY CAP ACQUISITN CORP UNIT 05/31/2028 G5853A123   1,039,094 105,278 SH   SOLE   105,278 0 0
NORTHERN OIL AND GAS INC MN COM 665531307   7,182,077 233,033 SH   SOLE   233,033 0 0
ORION ENGINEERED CARBONS S A COM L72967109   7,468,873 419,364 SH   SOLE   419,364 0 0
PATRICK INDS INC COM 703343103   2,787,358 45,996 SH   SOLE   45,996 0 0
PERPETUA RESOURCES CORP COM 714266103   2,140,865 733,173 SH   SOLE   733,173 0 0
PROSOMNUS INC *W EXP 04/20/202 50535E116   6,313 80,312 SH   SOLE   80,312 0 0
ROTH CH ACQUISITION IV CO UNIT 07/01/2026 77867P203   125,381 11,941 SH   SOLE   11,941 0 0
ROTH CH ACQUISITION V CO UNIT 12/10/2026 77867R209   2,031,015 200,100 SH   SOLE   200,100 0 0
RUMBLEON INC COM CL B 781386305   180,785 27,942 SH   SOLE   27,942 0 0
SEAPORT GLOBAL ACQUISITION I UNIT 11/17/2026 81221H204   2,206,270 216,939 SH   SOLE   216,939 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108   3,904,144 60,073 SH   SOLE   60,073 0 0
SPDR GOLD TR GOLD SHS 78463V107   1,365,263 8,048 SH   SOLE   8,048 0 0
SPORTSMAP TECH ACQUISITIN CO UNIT 09/01/2027 84921J207   254,750 25,000 SH   SOLE   25,000 0 0
SPROTT FDS TR URANIUM MINERS E 85208P303   1,841,872 58,030 SH   SOLE   58,030 0 0
THOR INDS INC COM 885160101   2,827,101 37,450 SH   SOLE   37,450 0 0
TILLYS INC CL A 886885102   1,519,495 167,900 SH   SOLE   167,900 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   17,864,580 623,328 SH   SOLE   623,328 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791   2,656,460 74,515 SH   SOLE   74,515 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   14,026,204 489,400 SH Call SOLE   489,400 0 0
VISHAY PRECISION GROUP INC COM 92835K103   8,949,446 231,551 SH   SOLE   231,551 0 0
VISTRA CORP COM 92840M102   11,042,759 475,981 SH   SOLE   475,981 0 0