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   42,670 17,000 SH   OTR   0 17,000 0
AMERISERV FINANC INC COM 03074A102   103,412 41,200 SH   SOLE   41,200 0 0
ASCENT INDUSTRIES COM 871565107   111,197 12,369 SH   OTR   0 12,369 0
ASCENT INDUSTRIES COM 871565107   431,520 48,000 SH   SOLE   48,000 0 0
ASTRONICS CORP COM 046433108   2,079,614 104,925 SH   OTR   0 104,925 0
ASTRONICS CORP COM 046433108   7,099,128 358,180 SH   SOLE   358,180 0 0
CAMDEN NATIONAL CORP COM 133034108   1,132,145 36,568 SH   OTR   0 36,568 0
CAMDEN NATIONAL CORP COM 133034108   1,640,880 53,000 SH   SOLE   53,000 0 0
CECO ENVIRONMENTAL CORP COM 125141101   410,927 30,758 SH   OTR   0 30,758 0
CECO ENVIRONMENTAL CORP COM 125141101   1,292,580 96,750 SH   SOLE   96,750 0 0
CHASE CORP COM 16150R104   3,676,481 30,329 SH   OTR   0 30,329 0
CHASE CORP COM 16150R104   9,059,134 74,733 SH   SOLE   74,733 0 0
CITIZENS & NORTHERN CORP COM 172922106   315,372 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106   509,595 26,500 SH   SOLE   26,500 0 0
CITIZENS FINL GROUP INC COM 174610105   173,522 6,656 SH   OTR   0 6,656 0
CITIZENS FINL GROUP INC COM 174610105   441,339 16,929 SH   SOLE   16,929 0 0
CITIZENS FINL SVCS INC COM 174615104   575,355 7,726 SH   SOLE   7,726 0 0
COLUMBIA FINANCIAL COM 197641103   584,298 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106   310,186 6,618 SH   OTR   0 6,618 0
COMPUTER TASK GROUP INC COM 205477102   1,924,234 252,856 SH   OTR   0 252,856 0
COMPUTER TASK GROUP INC COM 205477102   7,686,115 1,010,002 SH   SOLE   1,010,002 0 0
COMPX INTERNATIONAL COM 20563P101   154,715 7,097 SH   OTR   0 7,097 0
COMPX INTERNATIONAL COM 20563P101   452,350 20,750 SH   SOLE   20,750 0 0
CONTANGO ORE INC COM 21077F100   284,183 11,459 SH   OTR   0 11,459 0
CONTANGO ORE INC COM 21077F100   1,455,462 58,688 SH   SOLE   58,688 0 0
CRAWFORD & CO CL B COM 224633107   319,562 34,735 SH   OTR   0 34,735 0
CRAWFORD & CO CL B COM 224633107   897,975 97,606 SH   SOLE   97,606 0 0
DALLASNEWS CORPORATION COM 235050101   21,745 5,648 SH   OTR   0 5,648 0
DALLASNEWS CORPORATION COM 235050101   38,500 10,000 SH   SOLE   10,000 0 0
DELTA APPAREL INC COM 247368103   54,590 5,300 SH   OTR   0 5,300 0
DELTA APPAREL INC COM 247368103   144,746 14,053 SH   SOLE   14,053 0 0
DELUXE CORP COM 248019101   242,972 13,900 SH   OTR   0 13,900 0
DLH HOLDINGS CORP COM 23335Q100   821,770 82,013 SH   OTR   0 82,013 0
DLH HOLDINGS CORP COM 23335Q100   3,520,978 351,395 SH   SOLE   351,395 0 0
DONEGAL GROUP INC CL B 257701300   59,850 4,500 SH   OTR   0 4,500 0
DONEGAL GROUP INC CL B 257701300   177,635 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201   329,171 22,875 SH   OTR   0 22,875 0
DONEGAL GROUP INC CL A 257701201   339,820 23,615 SH   SOLE   23,615 0 0
DORMAN PRODUCTS INC COM 258278100   676,291 8,590 SH   OTR   0 8,590 0
DORMAN PRODUCTS INC COM 258278100   669,205 8,500 SH   SOLE   8,500 0 0
EAGLE BANCORP MONT INC COM 26942G100   50,310 3,900 SH   OTR   0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100   221,854 17,198 SH   SOLE   17,198 0 0
EASTERN CO COM 276317104   1,675,905 95,766 SH   OTR   0 95,766 0
EASTERN CO COM 276317104   5,554,675 317,410 SH   SOLE   317,410 0 0
ESCALADE INC COM 296056104   2,268,827 170,077 SH   OTR   0 170,077 0
ESCALADE INC COM 296056104   5,115,143 383,444 SH   SOLE   383,444 0 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   80,390 6,360 SH   OTR   0 6,360 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   278,080 22,000 SH   SOLE   22,000 0 0
FIRST MERCHANTS CORP COM 320817109   137,426 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109   140,950 5,000 SH   SOLE   5,000 0 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   74,385 5,700 SH   OTR   0 5,700 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   137,299 10,521 SH   SOLE   10,521 0 0
FNB CORP COM 302520101   133,734 11,690 SH   OTR   0 11,690 0
FNB CORP COM 302520101   599,284 52,385 SH   SOLE   52,385 0 0
FOSTER L B CO COM 350060109   527,678 37,424 SH   OTR   0 37,424 0
FOSTER L B CO COM 350060109   597,473 42,374 SH   SOLE   42,374 0 0
FREIGHTCAR AMERICA INC COM 357023100   651,018 220,684 SH   OTR   0 220,684 0
FREIGHTCAR AMERICA INC COM 357023100   1,727,898 585,728 SH   SOLE   585,728 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   2,240,421 275,236 SH   OTR   0 275,236 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   7,595,125 933,062 SH   SOLE   933,062 0 0
GSE SYSTEMS INC COM 36227K106   67,916 188,656 SH   OTR   0 188,656 0
GSE SYSTEMS INC COM 36227K106   263,519 731,998 SH   SOLE   731,998 0 0
HORIZON BANCORP INDIANA COM 440407104   73,341 7,052 SH   OTR   0 7,052 0
HORIZON BANCORP INDIANA COM 440407104   291,200 28,000 SH   SOLE   28,000 0 0
ICC HOLDINGS INC COM 44931Q104   133,109 8,414 SH   OTR   0 8,414 0
ICC HOLDINGS INC COM 44931Q104   394,756 24,953 SH   SOLE   24,953 0 0
INFUSYSTEM HLDGS INC COM 45685K102   1,765,286 183,884 SH   OTR   0 183,884 0
INFUSYSTEM HLDGS INC COM 45685K102   6,364,483 662,967 SH   SOLE   662,967 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104   652,332 44,316 SH   SOLE   0 44,316 0
KEWAUNEE SCIENTIFIC CP COM 492854104   1,893,036 128,603 SH   OTR   128,603 0 0
LAKE SHORE BANCORP INC COM 510700107   84,681 7,870 SH   OTR   0 7,870 0
LAKE SHORE BANCORP INC COM 510700107   231,060 21,474 SH   SOLE   21,474 0 0
LUMOS PHARMA INC COM 55028X109   43,221 13,549 SH   OTR   0 13,549 0
LUMOS PHARMA INC COM 55028X109   41,470 13,000 SH   SOLE   13,000 0 0
MALVERN BANCORP INC COM 561409103   80,485 5,206 SH   SOLE   0 5,206 0
MALVERN BANCORP INC COM 561409103   742,080 48,000 SH   OTR   48,000 0 0
MID PENN BANCORP COM 59540G107   275,316 12,503 SH   OTR   0 12,503 0
MID PENN BANCORP COM 59540G107   863,823 39,229 SH   SOLE   39,229 0 0
MID SOUTHERN BANCORP COM 59548Q107   115,895 8,915 SH   OTR   0 8,915 0
MID SOUTHERN BANCORP COM 59548Q107   166,283 12,791 SH   SOLE   12,791 0 0
NAVIGATOR HOLDINGS LTD COM Y62132108   1,025,522 78,947 SH   OTR   0 78,947 0
NAVIGATOR HOLDINGS LTD COM Y62132108   3,450,988 265,665 SH   SOLE   265,665 0 0
NI HOLDINGS INC COM 65342T106   434,240 29,500 SH   OTR   0 29,500 0
NI HOLDINGS INC COM 65342T106   1,477,888 100,400 SH   SOLE   100,400 0 0
NORTHWEST BANCSHARES INC COM 667340103   402,800 38,000 SH   SOLE   38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107   139,364 4,729 SH   OTR   0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107   263,815 8,952 SH   SOLE   8,952 0 0
OCONEE FED FINL CORP COM 675607105   162,146 11,451 SH   SOLE   11,451 0 0
PATHFINDER BANCORP INC COM 70319R109   678,864 48,699 SH   OTR   0 48,699 0
PATHFINDER BANCORP INC COM 70319R109   2,898,126 207,900 SH   SOLE   207,900 0 0
PATRIOT TRANSPORTATION HOLDING COM 70338W105   316,627 37,874 SH   OTR   0 37,874 0
PATRIOT TRANSPORTATION HOLDING COM 70338W105   1,485,589 177,702 SH   SOLE   177,702 0 0
PC TEL INC COM 69325Q105   25,866 5,400 SH   OTR   0 5,400 0
PC TEL INC COM 69325Q105   66,308 13,843 SH   SOLE   13,843 0 0
PROASSURANCE CORP COM 74267C106   128,778 8,534 SH   OTR   0 8,534 0
PROASSURANCE CORP COM 74267C106   131,283 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL COM 76525P100   331,200 30,000 SH   SOLE   30,000 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   1,102,227 52,487 SH   OTR   0 52,487 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   3,198,447 152,307 SH   SOLE   152,307 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402   1,138,575 124,707 SH   OTR   0 124,707 0
SCRIPPS E W CO OHIO CL A NEW 811054402   3,640,131 398,700 SH   SOLE   398,700 0 0
SIFCO INDUSTRIES INC COM 826546103   186,924 76,608 SH   OTR   0 76,608 0
SIFCO INDUSTRIES INC COM 826546103   751,544 308,010 SH   SOLE   308,010 0 0
SOUTH STATE CORP COM 840441109   372,211 5,661 SH   OTR   0 5,661 0
STARRETT LS COM 855668109   215,665 20,737 SH   OTR   0 20,737 0
STARRETT LS COM 855668109   546,000 52,500 SH   SOLE   52,500 0 0
THRYV HOLDINGS IINC COM 886029206   238,306 9,703 SH   SOLE   0 9,703 0
THRYV HOLDINGS IINC COM 886029206   982,400 40,000 SH   SOLE   40,000 0 0
TREDEGAR CORP COM 894650100   1,209,384 181,317 SH   OTR   0 181,317 0
TREDEGAR CORP COM 894650100   2,787,860 417,970 SH   SOLE   417,970 0 0
UNIFI INC COM 904677200   217,944 26,990 SH   OTR   0 26,990 0
UNIFI INC COM 904677200   479,970 59,439 SH   SOLE   59,439 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   2,170,676 155,604 SH   OTR   0 155,604 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   8,130,381 582,823 SH   SOLE   582,823 0 0
US LIME & MINERAL COM 911922102   1,246,922 6,011 SH   OTR   0 6,011 0
US LIME & MINERAL COM 911922102   2,437,627 11,751 SH   SOLE   11,751 0 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   916,281 225,685 SH   OTR   0 225,685 0
VIRCO MANUFACTURING CO COM 927651109   2,990,300 736,527 SH   SOLE   736,527 0 0
WILLIAMS INDUSTRIAL SERVICES GROUP COM 96951A104   157,620 426,001 SH   OTR   0 426,001 0
WILLIAMS INDUSTRIAL SERVICES GROUP COM 96951A104   539,932 1,459,276 SH   SOLE   1,459,276 0 0