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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1895 BANCORP OF WIS INC Common 28252W105 583 64,100 SH   DFND   64,100 0 0
AMERANT BANCORP INC CL A 023576101 11,982 796,672 SH   DFND   796,672 0 0
AMERANT BANCORP INC CL B 023576200 2,186 198,761 SH   DFND   0 198,761 0
BRIGHTHOUSE FINL INC Common 10922N103 0 5 SH   DFND   5 0 0
CINCINNATI BANCORP INC Common 17187C102 1,862 207,374 SH   DFND   207,374 0 0
COMMUNITY FIRST BANCSHARES INC Common 20369M104 42 5,000 SH   DFND   5,000 0 0
COMMUNITY WEST BANCSHARES Common 204157101 1,330 157,900 SH   DFND   157,900 0 0
CRESCENT CAP BDC INC Common 225655109 3,237 256,083 SH   DFND   256,083 0 0
ESSA BANCORP INC Common 29667D104 348 25,000 SH   DFND   25,000 0 0
FIRST BANCORP P R Common 318672706 5,705 1,020,580 SH   DFND   1,020,580 0 0
FFBW INC MD Common 30260M103 61 7,038 SH   DFND   7,038 0 0
FIRST SAVINGS FINL GROUP INC Common 33621E109 867 20,000 SH   DFND   20,000 0 0
FIRST SEACOAST BANCORP Common 33631P102 117 19,000 SH   DFND   19,000 0 0
FS BANCORP INC Common 30263Y104 2,893 75,000 SH   DFND   75,000 0 0
HARBORONE BANCORP INC NEW Common 41165Y100 238 27,883 SH   DFND   27,883 0 0
HOME FED BANCORP INC LA NEW Common 43708L108 1,737 70,000 SH   DFND   70,000 0 0
ICC HLDGS INC Common 44931Q104 476 42,719 SH   DFND   42,719 0 0
IF BANCORP INC Common 44951J105 383 22,219 SH   DFND   22,219 0 0
KINGSWAY FINL SVCS INC Common 496904202 12,160 5,434,896 SH   DFND   5,434,896 0 0
LAKE SHORE BANCORP INC Common 510700107 3,643 297,364 SH   DFND   297,364 0 0
MALVERN BANCORP INC Common 561409103 1,512 118,807 SH   DFND   118,807 0 0
METLIFE INC Common 59156R108 2 60 SH   DFND   60 0 0
MID SOUTHERN BANCORP INC Common 59548Q107 1,520 125,865 SH   DFND   125,865 0 0
NI HLDGS INC Common 65342T106 2,177 147,364 SH   DFND   147,364 0 0
OFG BANCORP Common 67103X102 23,261 1,739,798 SH   DFND   1,739,798 0 0
OTTAWA BANCORP INC Common 689195105 535 51,208 SH   DFND   51,208 0 0
PIONEER BANCORP INC Common 723561106 366 40,000 SH   DFND   40,000 0 0
POPULAR INC Common 733174700 743 20,000 SH   DFND   20,000 0 0
PRINCIPAL FINL GROUP INC Common 74251V102 23 547 SH   DFND   547 0 0
PROVIDENT BANCORP INC Common 74383L105 393 50,000 SH   DFND   50,000 0 0
RELIANT BANCORP INC Common 75956B101 3,640 223,471 SH   DFND   223,471 0 0
RHINEBECK BANCORP INC Common 762093102 98 15,000 SH   DFND   15,000 0 0
RICHMOND MUT BANCORPORATIN INC Common 76525P100 562 50,000 SH   DFND   50,000 0 0
SOUND FINL BANCORP INC Common 83607A100 6,149 254,600 SH   DFND   254,600 0 0
TIMBERLAND BANCORP INC Common 887098101 633 34,748 SH   DFND   34,748 0 0
VERICITY INC Common 92347D100 154 14,501 SH   DFND   14,501 0 0
WHEELER REAL ESTATE INVT TR Common 963025705 1,828 1,050,528 SH   DFND   1,050,528 0 0
WHEELER REAL ESTATE INVT TR PFD CNV SER D 963025606 815 67,941 SH   DFND   0 0 67,941
WHEELER REAL ESTATE INVT TR CV PFD SER B 963025309 62 8,200 SH   DFND   0 0 8,200