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
ACADEMY SPORTS & OUTDOORS IN COM 00402L107   1,535,528 23,533 SH   SOLE   23,533 0 0
AFRICAN GOLD ACQUISITION COR SHS CL A G0112R108   7,004,830 682,732 SH   SOLE   682,732 0 0
AGNICO EAGLE MINES LTD COM 008474108   2,749,781 53,949 SH   SOLE   53,949 0 0
ALAMOS GOLD INC NEW COM CL A 011532108   2,748,081 224,700 SH   SOLE   224,700 0 0
ALTENERGY ACQUISITION CORP UNIT 10/29/2026 02157M207   1,755,266 168,938 SH   SOLE   168,938 0 0
ANTERO RESOURCES CORP COM 03674X106   2,929,405 126,869 SH   SOLE   126,869 0 0
APPLIED DIGITAL CORP COM NEW 038169207   8,042,852 3,590,559 SH   SOLE   3,590,559 0 0
ARCH RESOURCES INC CL A 03940R107   5,912,676 44,977 SH   SOLE   44,977 0 0
B RILEY PRIN 250 MERGER CORP CLASS A COM 05602L104   8,834,110 869,499 SH   SOLE   869,499 0 0
B. RILEY FINANCIAL INC COM 05580M108   13,171,313 463,942 SH   SOLE   463,942 0 0
BLUEGREEN VACATIONS HLDG COR CLASS A 096308101   5,322,015 194,376 SH   SOLE   194,376 0 0
BLUELINX HLDGS INC COM NEW 09624H208   24,052,879 353,927 SH   SOLE   353,927 0 0
CENTURY CASINOS INC COM 156492100   2,666,361 363,760 SH   SOLE   363,760 0 0
CHAVANT CAPITAL ACQUISITN CO UNIT 07/16/2026 G2058L129   422,115 40,125 SH   SOLE   40,125 0 0
COLOMBIER ACQUISITION CORP CL A 19533H108   2,522,623 249,025 SH   SOLE   249,025 0 0
COLOMBIER ACQUISITION CORP *W EXP 99/99/999 19533H116   17,954 83,007 SH   SOLE   83,007 0 0
DIAMONDBACK ENERGY INC COM 25278X109   11,268,853 83,368 SH   SOLE   83,368 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   1,608,368 128,979 SH   SOLE   128,979 0 0
ETF MANAGERS TR PRIME JUNIR SLVR 26924G102   2,438,160 219,259 SH   SOLE   219,259 0 0
FAZE HOLDINGS INC *W EXP 03/01/202 31423J110   2,384 44,813 SH   SOLE   44,813 0 0
FERROGLOBE PLC SHS G33856108   6,932,055 1,403,250 SH   SOLE   1,403,250 0 0
GLOBAL SHIP LEASE INC NEW COM CL A Y27183600   24,889,362 1,328,141 SH   SOLE   1,328,141 0 0
HECLA MNG CO COM 422704106   646,432 102,122 SH   SOLE   102,122 0 0
HUDBAY MINERALS INC COM 443628102   2,237,881 426,263 SH   SOLE   426,263 0 0
KIMBELL RTY PARTNERS LP UNIT 49435R102   5,776,328 379,273 SH   SOLE   379,273 0 0
LANDSEA HOMES CORP COM 51509P103   2,136,380 352,538 SH   SOLE   352,538 0 0
LAZYDAYS HLDGS INC COM 52110H100   5,740,065 491,865 SH   SOLE   491,865 0 0
NORTHERN OIL AND GAS INC MN COM 665531307   7,072,552 233,033 SH   SOLE   233,033 0 0
ORION ENGINEERED CARBONS S A COM L72967109   11,764,085 450,904 SH   SOLE   450,904 0 0
PATRICK INDS INC COM 703343103   3,068,651 44,596 SH   SOLE   44,596 0 0
PERPETUA RESOURCES CORP COM 714266103   1,880,437 422,570 SH   SOLE   422,570 0 0
PNC FINL SVCS GROUP INC COM 693475105   1,614,170 12,700 SH   SOLE   12,700 0 0
PROSOMNUS INC *W EXP 04/20/202 50535E116   12,689 80,312 SH   SOLE   80,312 0 0
PROTERRA INC COM 74374T109   165,042 108,580 SH   SOLE   108,580 0 0
ROTH CH ACQUISITION IV CO UNIT 07/01/2026 77867P203   124,067 11,941 SH   SOLE   11,941 0 0
ROTH CH ACQUISITION V CO UNIT 12/10/2026 77867R209   2,061,050 200,100 SH   SOLE   200,100 0 0
RUMBLEON INC COM CL B 781386305   323,253 53,342 SH   SOLE   53,342 0 0
SEAPORT GLOBAL ACQUISITION I UNIT 11/17/2026 81221H204   2,307,146 216,939 SH   SOLE   216,939 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108   3,935,983 60,073 SH   SOLE   60,073 0 0
SM ENERGY CO COM 78454L100   247,808 8,800 SH   SOLE   8,800 0 0
SPDR GOLD TR GOLD SHS 78463V107   1,474,555 8,048 SH   SOLE   8,048 0 0
SPORTSMAP TECH ACQUISITIN CO COM 84921J108   257,500 25,000 SH   SOLE   25,000 0 0
SPROTT FDS TR URANIUM MINERS E 85208P303   1,820,401 58,030 SH   SOLE   58,030 0 0
THE ONE GROUP HOSPITALITY IN COM 88338K103   933,347 115,228 SH   SOLE   115,228 0 0
TILLYS INC CL A 886885102   1,294,509 167,900 SH   SOLE   167,900 0 0
TXO ENERGY PARTNERS LP COM UNIT 87313P103   2,228,960 96,450 SH   SOLE   96,450 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   3,393,515 104,900 SH Call SOLE   104,900 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   20,164,661 623,328 SH   SOLE   623,328 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791   628,050 15,900 SH Call SOLE   15,900 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791   3,417,343 86,515 SH   SOLE   86,515 0 0
VISHAY PRECISION GROUP INC COM 92835K103   5,059,224 121,150 SH   SOLE   121,150 0 0
VISTRA CORP COM 92840M102   20,873,400 869,725 SH   SOLE   869,725 0 0