| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING AND BOOKKEEPING FEES | 27,315 | 24,583 | 2,732 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BOSTON PPTYS LTD PARTNERSHIP GTD FXD RT NT 4.500% 400,000 SHS | 389,624 | 389,296 |
| MURPHY OIL CORP NT 5.875% 872,000 SHS | 847,057 | 871,215 |
| PULTEGROUP INC GTD FXD RT SR NT 5.500% 250,000 SHS | 244,643 | 251,400 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ADT INC DEL COM 125,000 SHS | 849,683 | 863,750 |
| AERCAP HOLDING NV SHS 7,500 SHS | 711,114 | 717,750 |
| ALICO INC COM 4,850 SHS | 131,907 | 125,761 |
| AMALGAMATED FINL CORP COM 32,500 SHS | 557,669 | 1,087,775 |
| AXIS CAPTIAL HLDGS LTD SHS 15,000 SHS | 623,356 | 1,329,300 |
| BRESLER & REINER INC COM 33,200 SHS | 4,557 | 0 |
| BROOKFIELD CORP VIG SHS CL A 37,500 SHS | 477,738 | 2,154,554 |
| BRT RLTY TR SH BEN INT NEW 35,000 SHS | 244,953 | 631,050 |
| CBL & ASSOC PPTYS INC COM PAR 21,505 SHS | 524,550 | 632,462 |
| CLARIVATE PLC SHS 150,000 SHS | 1,121,815 | 762,000 |
| COTY INC COM CLA 100,000 SHS | 809,242 | 696,000 |
| CW BANCORP COM 18,500 SHS | 540,072 | 659,525 |
| DUNDEE CORP CL A SUB VTG 857,500 SHS | 1,421,389 | 852,729 |
| ELEMENT SOLUTIONS INC 10,000 SHS | 223,140 | 254,300 |
| FIVE PT HLDGS LLC CL A COM REPSTG CL A 35,000 SHS | 115,768 | 132,300 |
| FRMO CORP COM NEW 18,282 SHS | 35,553 | 178,615 |
| GREEN BRICK PARTNERS INC COM 24,500 SHS | 483,564 | 1,384,005 |
| HORIZON KINETICS HLDG CORP COM 100,000 SHS | 2,448 | 3,600 |
| IAC INC COM NEW 17,500 SHS | 1,514,008 | 754,950 |
| IZODIA PLC 10,000 SHS | 4,083 | 0 |
| KKR & CO INC COM 15,000 SHS | 346,111 | 2,218,650 |
| LIBERTY BOADBAND CORP COM SER A 4,250 SHS | 486,740 | 316,030 |
| LIBERTY BOADBAND CORP COM SER C 7,000 SHS | 541,731 | 523,320 |
| LIBERTY MEDIA CORP DEL COM LIBERTY LIVE SER C 7,000 SHS | 231,700 | 476,420 |
| MERIDIAN BK PAOLI PA COM 57,500 SHS | 443,083 | 788,325 |
| MOBILE INFRASTRUCTUE CORP NEW COM 99,992 SHS | 330,553 | 449,964 |
| ONEX CORP SUB VTG 20,000 SHS | 947,640 | 1,561,613 |
| PERMIAN RES CORP CL A 52,500 SHS | 409,500 | 754,950 |
| PURE CYCLE CORP COM NEW 20,000 SHS | 220,451 | 253,600 |
| RAMACO RES INC CL A 40,000 SHS | 669,692 | 410,400 |
| RAMACO RES INC COM CL B 38,942 SHS | 423,594 | 384,747 |
| SAFEGUARD SCIENTIFICS INC COM PAR 342,245 SHS | 1,264,523 | 279,499 |
| SANOFI SPONS ADR 17,500 SHS | 863,913 | 844,025 |
| SEACOR MARINE HLDGS INC COM 75,000 SHS | 214,556 | 492,000 |
| SIGNATURE BK NEW YORK NY COM 7,500 SHS | 681,555 | 10,275 |
| TRANSALTA CORP 80,000 SHS | 763,224 | 1,132,000 |
| TRIMAS CORP COM NEW 37,500 SHS | 243,131 | 922,125 |
| UBER TECHNOLOGIES INC COM 1,500 SHS | 109,389 | 90,480 |
| VERTEX HLDGS INC COM 35,000 SHS | 837,312 | 950,600 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| DUE FROM BROKER | 12,775 | 23,123 | 23,123 |
| FMZ VENTURES FUND I LP | 577,663 | 552,260 | 552,260 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| NYS FILING FEES | 750 | 0 | 750 | |
| NON-DEDUCTIBLE EXPENSE FROM FMZ VENTURES FUND I LP K-1 | 14,583 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| ORDINARY LOSS FROM PASSTHROUGH ENTITY | -11,105 | -11,105 | -11,105 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DUE TO BROKER | 210,645 | 466,431 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL TAXES | 50,000 | 50,000 | 0 | |
| FOREIGN TAX WITHHELD | 13,683 | 13,683 | 0 |