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 228 25,000 SH   DFND   25,000 0 0
AMERANT BANCORP INC CL A 023576101 7,417 796,672 SH   DFND   796,672 0 0
AMERANT BANCORP INC CL B 023576200 1,969 261,523 SH   DFND   0 261,523 0
BRIGHTHOUSE FINL INC Common 10922N103 0 5 SH   DFND   5 0 0
CF BANKSHARES INC Common 12520L109 92 7,597 SH   DFND   7,597 0 0
CINCINNATI BANCORP INC Common 17187C102 2,362 244,274 SH   DFND   244,274 0 0
COMMUNITY FIRST BANCSHARES INC Common 20369M104 36 5,000 SH   DFND   5,000 0 0
COMMUNITY WEST BANCSHARES Common 204157101 109 13,532 SH   DFND   13,532 0 0
DIREXION SHS ETF TR DLY FIN BULL NEW 25459Y694 339 10,000 SH   DFND   10,000 0 0
ESSA BANCORP INC Common 29667D104 308 25,000 SH   DFND   25,000 0 0
FIRST BANCORP P R Common 318672706 5,327 1,020,580 SH   DFND   1,020,580 0 0
FFBW INC MD Common 30260M103 66 7,038 SH   DFND   7,038 0 0
FIRST SAVINGS FINL GROUP INC Common 33621E109 2,549 46,911 SH   DFND   46,911 0 0
FIRST SEACOAST BANCORP Common 33631P102 147 19,000 SH   DFND   19,000 0 0
FS BANCORP INC Common 30263Y104 3,075 75,000 SH   DFND   75,000 0 0
HARBORONE BANCORP INC NEW Common 41165Y100 225 27,883 SH   DFND   27,883 0 0
HMN FINL INC Common 40424G108 663 50,000 SH   DFND   50,000 0 0
HOME FED BANCORP INC LA NEW Common 43708L108 1,614 70,000 SH   DFND   70,000 0 0
ICC HLDGS INC Common 44931Q104 1,255 107,235 SH   DFND   107,235 0 0
IF BANCORP INC Common 44951J105 344 22,219 SH   DFND   22,219 0 0
KINGSWAY FINL SVCS INC Common 496904202 18,087 6,131,261 SH   DFND   6,131,261 0 0
LAKE SHORE BANCORP INC Common 510700107 3,884 289,864 SH   DFND   289,864 0 0
METLIFE INC Common 59156R108 2 60 SH   DFND   60 0 0
MID SOUTHERN BANCORP INC Common 59548Q107 1,624 125,865 SH   DFND   125,865 0 0
NI HLDGS INC Common 65342T106 2,489 147,364 SH   DFND   147,364 0 0
OFG BANCORP Common 67103X102 21,678 1,739,798 SH   DFND   1,739,798 0 0
PIONEER BANCORP INC Common 723561106 355 40,000 SH   DFND   40,000 0 0
POPULAR INC Common 733174700 2,176 60,000 SH   DFND   60,000 0 0
PRINCIPAL FINL GROUP INC Common 74251V102 22 547 SH   DFND   547 0 0
PROVIDENT BANCORP INC Common 74383L105 390 50,000 SH   DFND   50,000 0 0
RANDOLPH BANCORP INC Common 752378109 1,013 81,500 SH   DFND   81,500 0 0
RELIANT BANCORP INC Common 75956B101 1,323 91,218 SH   DFND   91,218 0 0
RHINEBECK BANCORP INC Common 762093102 95 15,000 SH   DFND   15,000 0 0
RICHMOND MUT BANCORPORATIN INC Common 76525P100 317 30,000 SH   DFND   30,000 0 0
SOUND FINL BANCORP INC Common 83607A100 8,575 289,400 SH   DFND   289,400 0 0
TIMBERLAND BANCORP INC Common 887098101 625 34,748 SH   DFND   34,748 0 0
VERICITY INC Common 92347D100 148 14,501 SH   DFND   14,501 0 0
WHEELER REAL ESTATE INVT TR Common 963025705 3,591 1,181,336 SH   DFND   1,181,336 0 0
WHEELER REAL ESTATE INVT TR PFD CNV SER D 963025606 1,031 67,941 SH   DFND   0 0 67,941
WHEELER REAL ESTATE INVT TR CV PFD SER B 963025309 78 8,200 SH   DFND   0 0 8,200