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 17,000 SH   OTR   0 17,000 0
AMERISERV FINANC INC COM 03074A102   105 41,200 SH   SOLE   41,200 0 0
ASCENT INDUSTRIES COM 871565107   103 12,369 SH   OTR   0 12,369 0
ASCENT INDUSTRIES COM 871565107   401 48,000 SH   SOLE   48,000 0 0
ASTRONICS CORP COM 046433108   1,663 104,925 SH   OTR   0 104,925 0
ASTRONICS CORP COM 046433108   5,677 358,180 SH   SOLE   358,180 0 0
CAMDEN NATIONAL CORP COM 133034108   1,030 36,568 SH   OTR   0 36,568 0
CAMDEN NATIONAL CORP COM 133034108   1,492 53,000 SH   SOLE   53,000 0 0
CECO ENVIRONMENTAL CORP COM 125141101   471 29,558 SH   OTR   0 29,558 0
CECO ENVIRONMENTAL CORP COM 125141101   1,466 91,900 SH   SOLE   91,900 0 0
CHASE CORP COM 16150R104   2,907 22,851 SH   OTR   0 22,851 0
CHASE CORP COM 16150R104   140 1,100 SH   SOLE   1,100 0 0
CITIZENS & NORTHERN CORP COM 172922106   288 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106   465 26,500 SH   SOLE   26,500 0 0
CITIZENS FINL GROUP INC COM 174610105   178 6,656 SH   OTR   0 6,656 0
CITIZENS FINL GROUP INC COM 174610105   454 16,929 SH   SOLE   16,929 0 0
CITIZENS FINL SVCS INC COM 174615104   370 7,726 SH   SOLE   7,726 0 0
COLUMBIA FINANCIAL COM 197641103   531 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106   279 6,618 SH   OTR   0 6,618 0
COMPUTER TASK GROUP INC COM 205477102   2,603 251,956 SH   OTR   0 251,956 0
COMPUTER TASK GROUP INC COM 205477102   10,357 1,002,602 SH   SOLE   1,002,602 0 0
COMPX INTERNATIONAL COM 20563P101   132 7,097 SH   OTR   0 7,097 0
COMPX INTERNATIONAL COM 20563P101   386 20,750 SH   SOLE   20,750 0 0
CONTANGO ORE INC COM 21077F100   209 11,459 SH   OTR   0 11,459 0
CONTANGO ORE INC COM 21077F100   1,069 58,688 SH   SOLE   58,688 0 0
CRAWFORD & CO CL B COM 224633107   631 73,628 SH   OTR   0 73,628 0
CRAWFORD & CO CL B COM 224633107   1,378 160,749 SH   SOLE   160,749 0 0
DELTA APPAREL INC COM 247368103   35 5,300 SH   OTR   0 5,300 0
DELTA APPAREL INC COM 247368103   92 14,053 SH   SOLE   14,053 0 0
DELUXE CORP COM 248019101   263 13,900 SH   OTR   0 13,900 0
DLH HOLDINGS CORP COM 23335Q100   1,168 103,181 SH   OTR   0 103,181 0
DLH HOLDINGS CORP COM 23335Q100   4,555 402,400 SH   SOLE   402,400 0 0
DONEGAL GROUP INC CL B 257701300   62 4,500 SH   OTR   0 4,500 0
DONEGAL GROUP INC CL B 257701300   183 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201   326 22,875 SH   OTR   0 22,875 0
DONEGAL GROUP INC CL A 257701201   336 23,615 SH   SOLE   23,615 0 0
DORMAN PRODUCTS INC COM 258278100   651 8,590 SH   OTR   0 8,590 0
DORMAN PRODUCTS INC COM 258278100   644 8,500 SH   SOLE   8,500 0 0
EAGLE BANCORP MONT INC COM 26942G100   75 6,877 SH   OTR   0 6,877 0
EAGLE BANCORP MONT INC COM 26942G100   149 13,658 SH   SOLE   13,658 0 0
EASTERN CO COM 276317104   46 3,900 SH   OTR   0 3,900 0
EASTERN CO COM 276317104   203 17,198 SH   SOLE   17,198 0 0
ECB BANCORP INC COM 26828M106   1,796 99,763 SH   OTR   0 99,763 0
ECB BANCORP INC COM 26828M107   5,899 327,697 SH   SOLE   327,697 0 0
ESCALADE INC COM 296056104   2,604 170,077 SH   OTR   0 170,077 0
ESCALADE INC COM 296056104   5,871 383,444 SH   SOLE   383,444 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102   43 4,025 SH   OTR   0 4,025 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102   400 37,118 SH   SOLE   37,118 0 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   68 5,560 SH   OTR   0 5,560 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   244 20,000 SH   SOLE   20,000 0 0
FIRST MERCHANTS CORP COM 320817109   135 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109   139 5,000 SH   SOLE   5,000 0 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   84 5,700 SH   OTR   0 5,700 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   155 10,521 SH   SOLE   10,521 0 0
FNB CORP COM 302520101   126 11,690 SH   OTR   0 11,690 0
FNB CORP COM 302520101   565 52,385 SH   SOLE   52,385 0 0
FOSTER L B CO COM 350060109   696 37,424 SH   OTR   0 37,424 0
FOSTER L B CO COM 350060109   788 42,374 SH   SOLE   42,374 0 0
FREIGHTCAR AMERICA INC COM 357023100   587 220,684 SH   OTR   0 220,684 0
FREIGHTCAR AMERICA INC COM 357023100   1,558 585,728 SH   SOLE   585,728 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   2,191 275,236 SH   OTR   0 275,236 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   7,427 933,062 SH   SOLE   933,062 0 0
GSE SYSTEMS INC COM 36227K106   36 178,656 SH   OTR   0 178,656 0
GSE SYSTEMS INC COM 36227K106   140 691,998 SH   SOLE   691,998 0 0
HORIZON BANCORP INDIANA COM 440407104   75 7,052 SH   OTR   0 7,052 0
HORIZON BANCORP INDIANA COM 440407104   298 28,000 SH   SOLE   28,000 0 0
ICC HOLDINGS INC COM 44931Q104   133 8,414 SH   OTR   0 8,414 0
ICC HOLDINGS INC COM 44931Q104   394 24,953 SH   SOLE   24,953 0 0
INFUSYSTEM HLDGS INC COM 45685K102   1,774 183,884 SH   OTR   0 183,884 0
INFUSYSTEM HLDGS INC COM 45685K102   6,398 662,967 SH   SOLE   662,967 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104   741 45,456 SH   SOLE   0 45,456 0
KEWAUNEE SCIENTIFIC CP COM 492854104   2,102 128,976 SH   OTR   128,976 0 0
LAKE SHORE BANCORP INC COM 510700107   79 7,870 SH   OTR   0 7,870 0
LAKE SHORE BANCORP INC COM 510700107   223 22,248 SH   SOLE   22,248 0 0
MID PENN BANCORP COM 59540G107   252 12,503 SH   OTR   0 12,503 0
MID PENN BANCORP COM 59540G107   790 39,229 SH   SOLE   39,229 0 0
NAVIGATOR HOLDINGS LTD COM Y62132108   1,166 78,947 SH   OTR   0 78,947 0
NAVIGATOR HOLDINGS LTD COM Y62132108   3,924 265,665 SH   SOLE   265,665 0 0
NI HOLDINGS INC COM 65342T106   380 29,500 SH   OTR   0 29,500 0
NI HOLDINGS INC COM 65342T106   1,292 100,400 SH   SOLE   100,400 0 0
NORTHWEST BANCSHARES INC COM 667340103   389 38,000 SH   SOLE   38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107   121 4,729 SH   OTR   0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107   229 8,952 SH   SOLE   8,952 0 0
PATHFINDER BANCORP INC COM 70319R109   644 48,699 SH   OTR   0 48,699 0
PATHFINDER BANCORP INC COM 70319R109   2,748 207,900 SH   SOLE   207,900 0 0
PATRIOT TRANSPORTATION HOLDING COM 70338W105   309 37,874 SH   OTR   0 37,874 0
PATRIOT TRANSPORTATION HOLDING COM 70338W105   1,448 177,702 SH   SOLE   177,702 0 0
PC TEL INC COM 69325Q105   39 9,400 SH   OTR   0 9,400 0
PC TEL INC COM 69325Q105   90 21,843 SH   SOLE   21,843 0 0
PROASSURANCE CORP COM 74267C106   161 8,534 SH   OTR   0 8,534 0
PROASSURANCE CORP COM 74267C106   164 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL COM 76525P100   335 30,000 SH   SOLE   30,000 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   1,102 52,487 SH   OTR   0 52,487 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   3,198 152,307 SH   SOLE   152,307 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402   869 158,833 SH   OTR   0 158,833 0
SCRIPPS E W CO OHIO CL A NEW 811054402   2,439 445,900 SH   SOLE   445,900 0 0
SIFCO INDUSTRIES INC COM 826546103   264 76,608 SH   OTR   0 76,608 0
SIFCO INDUSTRIES INC COM 826546103   1,042 302,000 SH   SOLE   302,000 0 0
SOUTH STATE CORP COM 840441109   381 5,661 SH   OTR   0 5,661 0
STARRETT LS COM 855668109   223 20,737 SH   OTR   0 20,737 0
STARRETT LS COM 855668109   564 52,500 SH   SOLE   52,500 0 0
THRYV HOLDINGS IINC COM 886029206   513 27,329 SH   SOLE   0 27,329 0
THRYV HOLDINGS IINC COM 886029206   3,981 212,222 SH   SOLE   212,222 0 0
TREDEGAR CORP COM 894650100   1,788 330,554 SH   OTR   0 330,554 0
TREDEGAR CORP COM 894650100   3,571 659,995 SH   SOLE   659,995 0 0
UNIFI INC COM 904677200   449 63,544 SH   OTR   0 63,544 0
UNIFI INC COM 904677200   868 122,939 SH   SOLE   122,939 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   2,017 155,604 SH   OTR   0 155,604 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   7,553 582,823 SH   SOLE   582,823 0 0
US LIME & MINERAL COM 911922102   297 1,485 SH   OTR   0 1,485 0
US LIME & MINERAL COM 911922102   612 3,061 SH   SOLE   3,061 0 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   80 1,798 SH   SOLE   0 1,798 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   802 17,947 SH   OTR   17,947 0 0
VIRCO MANUFACTURING CO COM 927651109   2,117 267,688 SH   OTR   0 267,688 0
VIRCO MANUFACTURING CO COM 927651109   6,424 812,186 SH   SOLE   812,186 0 0