Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
OPI	Office Properties Income Trust	1,162,310	$19.76M	4.1%	$17.00	—	COM OF BENEFICIA	67623C307
SLG	SL Green Realty Corp	195,000	$10.1M	2.1%	$51.77	—	COM	78440X887
LYFT	LYFT INC-A	673,275	$9.837M	2.1%	$14.61	—	CL A COM	55087P104
WOLF	Wolfspeed Inc	147,795	$7.131M	1.5%	$48.25	—	COMMON STOCK	97785W106
HON	Honeywell International Inc	25,058	$5.61M	1.2%	$223.90	—	COM	438516106
HONA	Honeywell Aerospace Inc	25,049	$5.538M	1.2%	$221.08	—	COM	43849R105
HLX	Helix Energy Solutions Group	478,465	$4.182M	0.9%	$8.74	—	COM	42330P107
ENHA	ENHANCED GROUP INC	725,863	$2.083M	0.4%	$2.87	—	COM CL A	29333R107
GTM	ZoomInfo Technologies Inc	200,000	$586K	0.1%	$2.93	—	COMMON STOCK	98980F104

Increased Positions (10)

CART Maplebear Inc. 4.6%

Value $22.17M (+137.5%) Shares 468,134 (+87.9%) Est. Cost $45.06 Unrealized —

BA BOEING CO/THE 3.0%

Value $14.3M (+41.2%) Shares 66,038 (+29.8%) Est. Cost $211.02 Unrealized —

MLP Maui Land & Pineapple Co. 4.6%

Value $22.01M (+19.4%) Shares 1,237,759 (+3.4%) Est. Cost $11.95 Unrealized —

JOBY Joby Aviation Inc. 4.8%

Value $23.19M (+17.9%) Shares 2,599,718 (+9.2%) Est. Cost $6.78 Unrealized —

MSB Mesabi Trust 3.5%

Value $16.94M (-16.8%) Shares 669,733 (+3.6%) Est. Cost $23.56 Unrealized —

RIVN Rivian Automotive Inc Class A 4.5%

Value $21.61M (+16.7%) Shares 1,245,583 (+1.2%) Est. Cost $10.69 Unrealized —

MBI MBIA Inc 2.7%

Value $12.83M (+12.3%) Shares 1,967,228 (+1.8%) Est. Cost $4.40 Unrealized —

GNW Genworth Financial Inc 1.4%

Value $6.825M (+18.6%) Shares 720,695 (+1.7%) Est. Cost $4.38 Unrealized —

CMCSA Comcast Cl A 0.7%

Value $3.428M (-12.4%) Shares 139,623 (+2.4%) Est. Cost $29.61 Unrealized —

AMGN Amgen Inc. 0.8%

Value $3.975M (+5.2%) Shares 10,978 (+2.3%) Est. Cost $142.88 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CART	Maplebear Inc.	468,134 (+87.9%)	$22.17M (+137.5%)	4.6%	$45.06	—	COM	565394103
BA	BOEING CO/THE	66,038 (+29.8%)	$14.3M (+41.2%)	3.0%	$211.02	—	COM	097023105
MLP	Maui Land & Pineapple Co.	1,237,759 (+3.4%)	$22.01M (+19.4%)	4.6%	$11.95	—	COM	577345101
JOBY	Joby Aviation Inc.	2,599,718 (+9.2%)	$23.19M (+17.9%)	4.8%	$6.78	—	COMMON STOCK	G65163100
MSB	Mesabi Trust	669,733 (+3.6%)	$16.94M (-16.8%)	3.5%	$23.56	—	CTF BEN INT	590672101
RIVN	Rivian Automotive Inc Class A	1,245,583 (+1.2%)	$21.61M (+16.7%)	4.5%	$10.69	—	COM CL A	76954A103
MBI	MBIA Inc	1,967,228 (+1.8%)	$12.83M (+12.3%)	2.7%	$4.40	—	COM	55262C100
GNW	Genworth Financial Inc	720,695 (+1.7%)	$6.825M (+18.6%)	1.4%	$4.38	—	COM SHS	37247D106
CMCSA	Comcast Cl A	139,623 (+2.4%)	$3.428M (-12.4%)	0.7%	$29.61	—	CL A	20030N101
AMGN	Amgen Inc.	10,978 (+2.3%)	$3.975M (+5.2%)	0.8%	$142.88	—	COM	031162100

Exited Positions (6)

UNFI United Natural Foods Inc. 2.9%

Value $13.84M Shares 307,078 Est. Cost $17.33 Unrealized —

CBL CBL & Associates Properties Inc. 0.8%

Value $4.002M Shares 104,136 Est. Cost $32.78 Unrealized —

GLW Corning Inc. 0.5%

Value $2.444M Shares 17,976 Est. Cost $10.80 Unrealized —

EQT EQT Corporation 0.3%

Value $1.265M Shares 19,871 Est. Cost $33.40 Unrealized —

CQP Cheniere Energy Partners 0.0%

Value $210K Shares 3,250 Est. Cost $52.47 Unrealized —

TUSK Mammoth Energy Services, Inc. 0.0%

Value $26,264 Shares 10,720 Est. Cost $1.80 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNFI	United Natural Foods Inc.	307,078	$13.84M	2.9%	$17.33	—	—	911163103
CBL	CBL & Associates Properties Inc.	104,136	$4.002M	0.8%	$32.78	—	—	124830878
GLW	Corning Inc.	17,976	$2.444M	0.5%	$10.80	—	—	219350105
EQT	EQT Corporation	19,871	$1.265M	0.3%	$33.40	—	—	26884L109
CQP	Cheniere Energy Partners	3,250	$210K	0.0%	$52.47	—	—	16411Q101
TUSK	Mammoth Energy Services, Inc.	10,720	$26,264	0.0%	$1.80	—	—	56155L108

Decreased Positions (9)

MU Micron Technology Inc 6.2%

Value $29.63M (+127.3%) Shares 25,667 (-33.5%) Est. Cost $77.11 Unrealized —

HPP Hudson Pacific Properties Inc 5.4%

Value $25.67M (+136.0%) Shares 1,689,699 (-8.2%) Est. Cost $7.79 Unrealized —

VAL Valaris Ltd 3.0%

Value $14.16M (-34.1%) Shares 194,983 (-11.0%) Est. Cost $35.05 Unrealized —

TDW Tidewater Inc. 4.1%

Value $19.8M (-25.4%) Shares 297,114 (-6.5%) Est. Cost $64.06 Unrealized —

YOU Clear Secure Inc Class A 1.1%

Value $5.194M (-55.9%) Shares 93,207 (-61.7%) Est. Cost $33.96 Unrealized —

CHRD Chord Energy Corp. 3.7%

Value $17.8M (-24.9%) Shares 155,693 (-6.6%) Est. Cost $86.18 Unrealized —

NE Noble Corp PLC 0.8%

Value $3.872M (-31.6%) Shares 103,797 (-10.0%) Est. Cost $44.62 Unrealized —

LNG Cheniere Energy Inc 0.4%

Value $1.724M (-20.2%) Shares 7,212 (-5.3%) Est. Cost $63.23 Unrealized —

AAPL Apple Inc. 0.8%

Value $4.005M (+10.3%) Shares 13,842 (-3.2%) Est. Cost $63.20 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	Micron Technology Inc	25,667 (-33.5%)	$29.63M (+127.3%)	6.2%	$77.11	—	COM	595112103
HPP	Hudson Pacific Properties Inc	1,689,699 (-8.2%)	$25.67M (+136.0%)	5.4%	$7.79	—	COM	444097406
VAL	Valaris Ltd	194,983 (-11.0%)	$14.16M (-34.1%)	3.0%	$35.05	—	CL A	G9460G101
TDW	Tidewater Inc.	297,114 (-6.5%)	$19.8M (-25.4%)	4.1%	$64.06	—	COM	88642R109
YOU	Clear Secure Inc Class A	93,207 (-61.7%)	$5.194M (-55.9%)	1.1%	$33.96	—	COM CL A	18467V109
CHRD	Chord Energy Corp.	155,693 (-6.6%)	$17.8M (-24.9%)	3.7%	$86.18	—	COM NEW	674215207
NE	Noble Corp PLC	103,797 (-10.0%)	$3.872M (-31.6%)	0.8%	$44.62	—	ORD SHS A	G65431127
LNG	Cheniere Energy Inc	7,212 (-5.3%)	$1.724M (-20.2%)	0.4%	$63.23	—	COM NEW	16411R208
AAPL	Apple Inc.	13,842 (-3.2%)	$4.005M (+10.3%)	0.8%	$63.20	—	COM	037833100

Unchanged Positions (10)

INTC Intel Corporation 10.4%

Value $49.84M Shares 356,917 Est. Cost $46.43 Unrealized —

QCOM Qualcomm Inc. 2.3%

Value $10.97M Shares 59,341 Est. Cost $48.96 Unrealized —

JEF Jefferies Financial 3.8%

Value $18.45M Shares 369,053 Est. Cost $57.37 Unrealized —

CRGY CRESCENT ENERGY INC-A 1.0%

Value $4.813M Shares 490,083 Est. Cost $8.72 Unrealized —

AMZN Amazon.com Inc. 2.7%

Value $13.03M Shares 54,672 Est. Cost $183.92 Unrealized —

HY Hyster-Yale Materials Handling Inc. Cl A 2.9%

Value $13.94M Shares 397,633 Est. Cost $40.48 Unrealized —

NYT New York Times Cl A 1.0%

Value $4.755M Shares 67,942 Est. Cost $16.46 Unrealized —

CDLR Cadeler A/S Spons Adr 2.3%

Value $11.03M Shares 503,514 Est. Cost $18.72 Unrealized —

SBLK Star Bulk Carriers Corp. 1.8%

Value $8.843M Shares 354,140 Est. Cost $19.57 Unrealized —

VSNT Versant Media Group Inc 2.0%

Value $9.619M Shares 267,116 Est. Cost $32.14 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INTC	Intel Corporation	356,917	$49.84M	10.4%	$46.43	—	COM	458140100
QCOM	Qualcomm Inc.	59,341	$10.97M	2.3%	$48.96	—	COM	747525103
JEF	Jefferies Financial	369,053	$18.45M	3.8%	$57.37	—	COM	47233W109
CRGY	CRESCENT ENERGY INC-A	490,083	$4.813M	1.0%	$8.72	—	CL A COM	44952J104
AMZN	Amazon.com Inc.	54,672	$13.03M	2.7%	$183.92	—	COM	023135106
HY	Hyster-Yale Materials Handling Inc. Cl A	397,633	$13.94M	2.9%	$40.48	—	CL A	449172105
NYT	New York Times Cl A	67,942	$4.755M	1.0%	$16.46	—	CL A	650111107
CDLR	Cadeler A/S Spons Adr	503,514	$11.03M	2.3%	$18.72	—	SPON ADR	12738K109
SBLK	Star Bulk Carriers Corp.	354,140	$8.843M	1.8%	$19.57	—	SHS PAR	Y8162K204
VSNT	Versant Media Group Inc	267,116	$9.619M	2.0%	$32.14	—	COM CL A	925283103