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   37,910 17,000 SH   OTR   0 17,000 0
AMERISERV FINANC INC COM 03074A102   91,876 41,200 SH   SOLE   41,200 0 0
ASCENT INDUSTRIES COM 871565107   76,573 7,993 SH   OTR   0 7,993 0
ASCENT INDUSTRIES COM 871565107   257,913 26,922 SH   SOLE   26,922 0 0
ASTRONICS CORP COM 046433108   2,097,451 104,925 SH   OTR   0 104,925 0
ASTRONICS CORP COM 046433108   7,160,018 358,180 SH   SOLE   358,180 0 0
CAMDEN NATIONAL CORP COM 133034108   1,205,281 36,568 SH   OTR   0 36,568 0
CAMDEN NATIONAL CORP COM 133034108   1,746,880 53,000 SH   SOLE   53,000 0 0
CENTRAL PLAINS BANCSHARES INC COM 15486W100   294,201 29,100 SH   OTR   0 29,100 0
CENTRAL PLAINS BANCSHARES INC COM 15486W100   202,372 20,017 SH   SOLE   20,017 0 0
CITIZENS & NORTHERN CORP COM 172922106   290,608 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106   469,580 26,500 SH   SOLE   26,500 0 0
CITIZENS FINL GROUP INC COM 174610105   239,683 6,656 SH   OTR   0 6,656 0
CITIZENS FINL GROUP INC COM 174610105   609,613 16,929 SH   SOLE   16,929 0 0
CITIZENS FINL SVCS INC COM 174615104   350,667 7,803 SH   SOLE   7,803 0 0
COLUMBIA FINANCIAL COM 197641103   505,896 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106   312,237 6,618 SH   OTR   0 6,618 0
CONTANGO ORE INC COM 21077F100   204,429 11,459 SH   OTR   0 11,459 0
CONTANGO ORE INC COM 21077F100   1,046,994 58,688 SH   SOLE   58,688 0 0
CRAWFORD & CO CL B COM 224633107   857,574 100,301 SH   OTR   0 100,301 0
CRAWFORD & CO CL B COM 224633107   1,502,244 175,701 SH   SOLE   175,701 0 0
DELUXE CORP COM 248019101   312,194 13,900 SH   OTR   0 13,900 0
DLH HOLDINGS CORP COM 23335Q100   1,147,800 108,181 SH   OTR   0 108,181 0
DLH HOLDINGS CORP COM 23335Q100   4,290,684 404,400 SH   SOLE   404,400 0 0
DONEGAL GROUP INC CL B 257701300   50,130 4,500 SH   OTR   0 4,500 0
DONEGAL GROUP INC CL B 257701300   148,786 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201   293,486 22,875 SH   OTR   0 22,875 0
DONEGAL GROUP INC CL A 257701201   302,980 23,615 SH   SOLE   23,615 0 0
DORMAN PRODUCTS INC COM 258278100   784,782 8,590 SH   OTR   0 8,590 0
DORMAN PRODUCTS INC COM 258278100   356,304 3,900 SH   SOLE   3,900 0 0
ECB BANCORP INC COM 26828M106   192,279 15,407 SH   OTR   0 15,407 0
ECB BANCORP INC COM 26828M106   262,492 21,033 SH   SOLE   21,033 0 0
EAGLE BANCORP MONT INC COM 26942G100   51,246 3,900 SH   OTR   0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100   225,982 17,198 SH   SOLE   17,198 0 0
EASTERN CO COM 276317104   4,151,316 165,457 SH   OTR   0 165,457 0
EASTERN CO COM 276317104   8,369,196 333,567 SH   SOLE   333,567 0 0
ESCALADE INC COM 296056104   2,231,192 165,029 SH   OTR   0 165,029 0
ESCALADE INC COM 296056104   5,040,053 372,785 SH   SOLE   372,785 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102   50,957 4,025 SH   OTR   0 4,025 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102   469,914 37,118 SH   SOLE   37,118 0 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   76,784 5,560 SH   OTR   0 5,560 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   276,200 20,000 SH   SOLE   20,000 0 0
FIRST MERCHANTS CORP COM 320817109   162,191 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109   166,350 5,000 SH   SOLE   5,000 0 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   99,180 5,700 SH   OTR   0 5,700 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   183,065 10,521 SH   SOLE   10,521 0 0
FNB CORP COM 302520101   159,919 11,690 SH   OTR   0 11,690 0
FNB CORP COM 302520101   716,627 52,385 SH   SOLE   52,385 0 0
FOSTER L B CO COM 350060109   809,107 37,424 SH   OTR   0 37,424 0
FOSTER L B CO COM 350060109   916,126 42,374 SH   SOLE   42,374 0 0
FREIGHTCAR AMERICA INC COM 357023100   766,086 221,412 SH   OTR   0 221,412 0
FREIGHTCAR AMERICA INC COM 357023100   1,954,900 565,000 SH   SOLE   565,000 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   3,192,938 364,075 SH   OTR   0 364,075 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   8,403,958 958,262 SH   SOLE   958,262 0 0
HARBOR ONE BANCORP INC NEW COM NEW 41165Y100   594,920 53,500 SH   OTR   0 53,500 0
HARBOR ONE BANCORP INC NEW COM NEW 41165Y100   388,244 34,914 SH   SOLE   34,914 0 0
HORIZON BANCORP INDIANA COM 440407104   87,163 7,052 SH   OTR   0 7,052 0
HORIZON BANCORP INDIANA COM 440407104   346,080 28,000 SH   SOLE   28,000 0 0
ICC HOLDINGS INC COM 44931Q104   188,474 8,414 SH   OTR   0 8,414 0
ICC HOLDINGS INC COM 44931Q104   558,947 24,953 SH   SOLE   24,953 0 0
INFUSYSTEM HLDGS INC COM 45685K102   1,252,250 183,884 SH   OTR   0 183,884 0
INFUSYSTEM HLDGS INC COM 45685K102   4,514,805 662,967 SH   SOLE   662,967 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104   1,325,046 28,465 SH   SOLE   0 28,465 0
KEWAUNEE SCIENTIFIC CP COM 492854104   3,702,913 79,547 SH   OTR   79,547 0 0
LAKE SHORE BANCORP INC COM 510700107   94,597 7,870 SH   OTR   0 7,870 0
LAKE SHORE BANCORP INC COM 510700107   267,421 22,248 SH   SOLE   22,248 0 0
MID PENN BANCORP COM 59540G107   272,690 12,503 SH   OTR   0 12,503 0
MID PENN BANCORP COM 59540G107   855,584 39,229 SH   SOLE   39,229 0 0
NAVIGATOR HOLDINGS LTD COM Y62132108   1,292,120 74,047 SH   OTR   0 74,047 0
NAVIGATOR HOLDINGS LTD COM Y62132108   4,145,509 237,565 SH   SOLE   237,565 0 0
NI HOLDINGS INC COM 65342T106   451,350 29,500 SH   OTR   0 29,500 0
NI HOLDINGS INC COM 65342T106   1,536,120 100,400 SH   SOLE   100,400 0 0
NORTHWEST BANCSHARES INC COM 667340103   438,900 38,000 SH   SOLE   38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107   118,461 4,729 SH   OTR   0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107   224,248 8,952 SH   SOLE   8,952 0 0
PB BANCSHARES INC COM 69318V103   132,357 9,640 SH   OTR   0 9,640 0
PB BANCSHARES INC COM 69318V103   149,932 10,920 SH   SOLE   10,920 0 0
PATHFINDER BANCORP INC COM 70319R109   667,706 51,362 SH   OTR   0 51,362 0
PATHFINDER BANCORP INC COM 70319R109   2,740,946 210,842 SH   SOLE   210,842 0 0
PROASSURANCE CORP COM 74267C106   104,285 8,534 SH   OTR   0 8,534 0
PROASSURANCE CORP COM 74267C106   106,314 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL COM 76525P100   352,200 30,000 SH   SOLE   30,000 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   1,184,304 76,161 SH   OTR   0 76,161 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   2,433,093 156,469 SH   SOLE   156,469 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402   845,244 270,046 SH   OTR   0 270,046 0
SCRIPPS E W CO OHIO CL A NEW 811054402   1,668,021 532,914 SH   SOLE   532,914 0 0
SIFCO INDUSTRIES INC COM 826546103   237,485 76,608 SH   OTR   0 76,608 0
SIFCO INDUSTRIES INC COM 826546103   936,200 302,000 SH   SOLE   302,000 0 0
SOUTH STATE CORP COM 840441109   432,387 5,661 SH   OTR   0 5,661 0
THRYV HOLDINGS IINC COM 886029206   486,183 27,329 SH   SOLE   0 27,329 0
THRYV HOLDINGS IINC COM 886029206   3,513,525 197,500 SH   SOLE   197,500 0 0
TREDEGAR CORP COM 894650100   3,305,919 690,171 SH   OTR   0 690,171 0
TREDEGAR CORP COM 894650100   4,395,203 917,579 SH   SOLE   917,579 0 0
UNIFI INC COM 904677200   2,153,178 365,565 SH   OTR   0 365,565 0
UNIFI INC COM 904677200   2,137,605 362,921 SH   SOLE   362,921 0 0
UNISYS CORP COM NEW 909214306   793,567 192,147 SH   OTR   0 192,147 0
UNISYS CORP COM NEW 909214306   632,716 153,200 SH   SOLE   153,200 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   3,709,770 135,889 SH   OTR   0 135,889 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   10,616,479 388,882 SH   SOLE   388,882 0 0
UTAL MED PRODS INC COM 917488108   181,973 2,727 SH   OTR   0 2,727 0
UTAL MED PRODS INC COM 917488108   320,771 4,807 SH   SOLE   4,807 0 0
US LIME & MINERAL COM 911922102   452,150 1,250 SH   OTR   0 1,250 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   80,478 1,798 SH   SOLE   0 1,798 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   803,308 17,947 SH   OTR   17,947 0 0
VIRCO MANUFACTURING CO COM 927651109   4,552,313 327,034 SH   OTR   0 327,034 0
VIRCO MANUFACTURING CO COM 927651109   11,024,445 791,986 SH   SOLE   791,986 0 0