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
AMERISERV FINANC INC COM 03074A102   43,860 17,000 SH   OTR   0 17,000 0
AMERISERV FINANC INC COM 03074A102   106,296 41,200 SH   SOLE   41,200 0 0
ASCENT INDUSTRIES COM 871565107   123,690 12,369 SH   OTR   0 12,369 0
ASCENT INDUSTRIES COM 871565107   432,240 43,224 SH   SOLE   43,224 0 0
ASTRONICS CORP COM 046433108   1,995,674 104,925 SH   OTR   0 104,925 0
ASTRONICS CORP COM 046433108   6,812,584 358,180 SH   SOLE   358,180 0 0
CAMDEN NATIONAL CORP COM 133034108   1,221,371 36,568 SH   OTR   0 36,568 0
CAMDEN NATIONAL CORP COM 133034108   1,770,200 53,000 SH   SOLE   53,000 0 0
CECO ENVIRONMENTAL CORP COM 125141101   326,784 14,208 SH   OTR   0 14,208 0
CECO ENVIRONMENTAL CORP COM 125141101   803,160 34,920 SH   SOLE   34,920 0 0
CENTRAL PLAINS BANCSHARES INC COM 15486W100   264,422 25,873 SH   OTR   0 25,873 0
CENTRAL PLAINS BANCSHARES INC COM 15486W100   196,204 19,198 SH   SOLE   19,198 0 0
CITIZENS & NORTHERN CORP COM 172922106   305,204 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106   493,165 26,500 SH   SOLE   26,500 0 0
CITIZENS FINL GROUP INC COM 174610105   241,480 6,656 SH   OTR   0 6,656 0
CITIZENS FINL GROUP INC COM 174610105   614,184 16,929 SH   SOLE   16,929 0 0
CITIZENS FINL SVCS INC COM 174615104   380,119 7,726 SH   SOLE   7,726 0 0
COLUMBIA FINANCIAL COM 197641103   581,595 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106   317,465 6,618 SH   OTR   0 6,618 0
CONTANGO ORE INC COM 21077F100   227,461 11,459 SH   OTR   0 11,459 0
CONTANGO ORE INC COM 21077F100   1,164,957 58,688 SH   SOLE   58,688 0 0
CRAWFORD & CO CL B COM 224633107   874,589 96,533 SH   OTR   0 96,533 0
CRAWFORD & CO CL B COM 224633107   1,591,851 175,701 SH   SOLE   175,701 0 0
DELUXE CORP COM 248019101   286,201 13,900 SH   OTR   0 13,900 0
DLH HOLDINGS CORP COM 23335Q100   1,357,862 103,181 SH   OTR   0 103,181 0
DLH HOLDINGS CORP COM 23335Q100   5,295,584 402,400 SH   SOLE   402,400 0 0
DONEGAL GROUP INC CL B 257701300   57,375 4,500 SH   OTR   0 4,500 0
DONEGAL GROUP INC CL B 257701300   170,289 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201   322,995 22,875 SH   OTR   0 22,875 0
DONEGAL GROUP INC CL A 257701201   333,444 23,615 SH   SOLE   23,615 0 0
DORMAN PRODUCTS INC COM 258278100   826,702 8,590 SH   OTR   0 8,590 0
DORMAN PRODUCTS INC COM 258278100   384,960 4,000 SH   SOLE   4,000 0 0
ECB BANCORP INC COM 26828M106   174,375 13,507 SH   OTR   0 13,507 0
ECB BANCORP INC COM 26828M106   243,457 18,858 SH   SOLE   18,858 0 0
EAGLE BANCORP MONT INC COM 26942G100   50,076 3,900 SH   OTR   0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100   220,822 17,198 SH   SOLE   17,198 0 0
EASTERN CO COM 276317104   5,198,055 155,027 SH   OTR   0 155,027 0
EASTERN CO COM 276317104   11,184,502 333,567 SH   SOLE   333,567 0 0
ESCALADE INC COM 296056104   2,239,444 165,029 SH   OTR   0 165,029 0
ESCALADE INC COM 296056104   5,058,692 372,785 SH   SOLE   372,785 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102   55,102 4,025 SH   OTR   0 4,025 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102   508,145 37,118 SH   SOLE   37,118 0 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   77,284 5,560 SH   OTR   0 5,560 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   278,000 20,000 SH   SOLE   20,000 0 0
FIRST MERCHANTS CORP COM 320817109   169,894 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109   174,250 5,000 SH   SOLE   5,000 0 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   93,537 5,700 SH   OTR   0 5,700 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   172,650 10,521 SH   SOLE   10,521 0 0
FNB CORP COM 302520101   164,829 11,690 SH   OTR   0 11,690 0
FNB CORP COM 302520101   738,629 52,385 SH   SOLE   52,385 0 0
FOSTER L B CO COM 350060109   1,015,687 37,424 SH   OTR   0 37,424 0
FOSTER L B CO COM 350060109   1,150,030 42,374 SH   SOLE   42,374 0 0
FREIGHTCAR AMERICA INC COM 357023100   848,008 221,412 SH   OTR   0 221,412 0
FREIGHTCAR AMERICA INC COM 357023100   2,163,950 565,000 SH   SOLE   565,000 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   3,092,920 353,881 SH   OTR   0 353,881 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   8,375,210 958,262 SH   SOLE   958,262 0 0
GSE SYSTEMS INC COM 36227K106   40,231 17,341 SH   OTR   0 17,341 0
GSE SYSTEMS INC COM 36227K106   108,049 46,573 SH   SOLE   46,573 0 0
HARBOR ONE BANCORP INC NEW COM NEW 41165Y100   475,161 44,700 SH   OTR   0 44,700 0
HARBOR ONE BANCORP INC NEW COM NEW 41165Y100   294,600 27,714 SH   SOLE   27,714 0 0
HORIZON BANCORP INDIANA COM 440407104   90,336 7,052 SH   OTR   0 7,052 0
HORIZON BANCORP INDIANA COM 440407104   358,680 28,000 SH   SOLE   28,000 0 0
ICC HOLDINGS INC COM 44931Q104   134,540 8,414 SH   OTR   0 8,414 0
ICC HOLDINGS INC COM 44931Q104   398,998 24,953 SH   SOLE   24,953 0 0
INFUSYSTEM HLDGS INC COM 45685K102   1,579,564 183,884 SH   OTR   0 183,884 0
INFUSYSTEM HLDGS INC COM 45685K102   5,694,887 662,967 SH   SOLE   662,967 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104   1,266,756 37,478 SH   SOLE   0 37,478 0
KEWAUNEE SCIENTIFIC CP COM 492854104   3,620,115 107,104 SH   OTR   107,104 0 0
LAKE SHORE BANCORP INC COM 510700107   91,292 7,870 SH   OTR   0 7,870 0
LAKE SHORE BANCORP INC COM 510700107   258,077 22,248 SH   SOLE   22,248 0 0
MID PENN BANCORP COM 59540G107   250,185 12,503 SH   OTR   0 12,503 0
MID PENN BANCORP COM 59540G107   784,972 39,229 SH   SOLE   39,229 0 0
NAVIGATOR HOLDINGS LTD COM Y62132108   1,211,836 78,947 SH   OTR   0 78,947 0
NAVIGATOR HOLDINGS LTD COM Y62132108   3,893,758 253,665 SH   SOLE   253,665 0 0
NI HOLDINGS INC COM 65342T106   438,960 29,500 SH   OTR   0 29,500 0
NI HOLDINGS INC COM 65342T106   1,493,952 100,400 SH   SOLE   100,400 0 0
NORTHWEST BANCSHARES INC COM 667340103   442,700 38,000 SH   SOLE   38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107   126,690 4,729 SH   OTR   0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107   239,824 8,952 SH   SOLE   8,952 0 0
PB BANCSHARES INC COM 69318V103   123,392 9,640 SH   OTR   0 9,640 0
PB BANCSHARES INC COM 69318V103   139,776 10,920 SH   SOLE   10,920 0 0
PATHFINDER BANCORP INC COM 70319R109   624,562 51,362 SH   OTR   0 51,362 0
PATHFINDER BANCORP INC COM 70319R109   2,563,839 210,842 SH   SOLE   210,842 0 0
PROASSURANCE CORP COM 74267C106   109,747 8,534 SH   OTR   0 8,534 0
PROASSURANCE CORP COM 74267C106   111,882 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL COM 76525P100   333,600 30,000 SH   SOLE   30,000 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   1,699,152 76,161 SH   OTR   0 76,161 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   3,499,993 156,880 SH   SOLE   156,880 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402   868,720 222,179 SH   OTR   0 222,179 0
SCRIPPS E W CO OHIO CL A NEW 811054402   1,919,419 490,900 SH   SOLE   490,900 0 0
SIFCO INDUSTRIES INC COM 826546103   243,613 76,608 SH   OTR   0 76,608 0
SIFCO INDUSTRIES INC COM 826546103   960,360 302,000 SH   SOLE   302,000 0 0
SOUTH STATE CORP COM 840441109   481,128 5,661 SH   OTR   0 5,661 0
STARRETT LS COM 855668109   1,762,438 20,737 SH   OTR   0 20,737 0
STARRETT LS COM 855668109   580,800 48,000 SH   SOLE   48,000 0 0
THRYV HOLDINGS IINC COM 886029206   606,157 27,329 SH   SOLE   0 27,329 0
THRYV HOLDINGS IINC COM 886029206   4,380,550 197,500 SH   SOLE   197,500 0 0
TREDEGAR CORP COM 894650100   4,408,381 676,132 SH   OTR   0 676,132 0
TREDEGAR CORP COM 894650100   5,338,113 818,729 SH   SOLE   818,729 0 0
UNIFI INC COM 904677200   1,879,183 313,720 SH   OTR   0 313,720 0
UNIFI INC COM 904677200   1,606,955 268,273 SH   SOLE   268,273 0 0
UNISYS CORP COM NEW 909214306   943,442 192,147 SH   OTR   0 192,147 0
UNISYS CORP COM NEW 909214306   752,212 153,200 SH   SOLE   153,200 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   4,271,577 191,122 SH   OTR   0 191,122 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   13,001,509 581,723 SH   SOLE   581,723 0 0
US LIME & MINERAL COM 911922102   371,488 1,250 SH   OTR   0 1,250 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   74,815 1,798 SH   SOLE   0 1,798 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   746,775 17,947 SH   OTR   17,947 0 0
VIRCO MANUFACTURING CO COM 927651109   3,384,272 309,915 SH   OTR   0 309,915 0
VIRCO MANUFACTURING CO COM 927651109   8,869,071 812,186 SH   SOLE   812,186 0 0