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 917 84,005 SH   DFND   84,005 0 0
AFFINITY BANCSHARES INC Common 00832E103 911 64,840 SH   DFND   64,840 0 0
BLUE FOUNDRY BANCORP Common 09549B104 327 23,677 SH   DFND   23,677 0 0
CF BANKSHARES INC Common 12520L109 1,004 49,083 SH   DFND   49,083 0 0
CINCINNATI BANCORP INC Common 17187C102 4,147 279,274 SH   DFND   279,274 0 0
CULLMAN BANCORP INC Common 230153108 321 25,000 SH   DFND   25,000 0 0
ESSA BANCORP INC Common 29667D104 412 25,000 SH   DFND   25,000 0 0
FFBW INC MD Common 30260M103 85 7,038 SH   DFND   7,038 0 0
FIRST SAVINGS FINL GROUP INC Common 33621E109 1,678 60,000 SH   DFND   60,000 0 0
FIRST SEACOAST BANCORP Common 33631P102 185 19,000 SH   DFND   19,000 0 0
FS BANCORP INC Common 30263Y104 4,672 135,000 SH   DFND   135,000 0 0
GENERATIONS BANCORP NY INC Common 37149G108 2,789 243,606 SH   DFND   243,606 0 0
HARBORONE BANCORP INC NEW Common 41165Y100 391 27,883 SH   DFND   27,883 0 0
HOME FED BANCORP INC LA NEW Common 43708L108 2,625 140,000 SH   DFND   140,000 0 0
ICC HLDGS INC Common 44931Q104 3,870 234,543 SH   DFND   234,543 0 0
IF BANCORP INC Common 44951J105 504 22,219 SH   DFND   22,219 0 0
ISHARES SILVER TR ISHARES 46428Q109 308 15,000 SH   DFND   15,000 0 0
KINGSWAY FINL SVCS INC Common 496904202 37,073 6,917,852 SH   DFND   6,917,852 0 0
LAKE SHORE BANCORP INC Common 510700107 2,014 135,016 SH   DFND   135,016 0 0
MAGYAR BANCORP INC Common 55977T208 458 40,000 SH   DFND   40,000 0 0
METLIFE INC Common 59156R108 4 60 SH   DFND   60 0 0
MID SOUTHERN BANCORP INC Common 59548Q107 1,896 125,865 SH   DFND   125,865 0 0
NI HLDGS INC Common 65342T106 832 47,364 SH   DFND   47,364 0 0
NORTHEAST CMNTY BANCORP INC Common 664121100 7,710 708,022 SH   DFND   708,022 0 0
OFG BANCORP Common 67103X102 43,878 1,739,798 SH   DFND   1,739,798 0 0
PB BANKSHARES INC Common 69318V103 380 27,431 SH   DFND   27,431 0 0
PRINCIPAL FINL GROUP INC Common 74251V102 35 547 SH   DFND   547 0 0
PROVIDENT BANCORP INC Common 74383L105 801 50,000 SH   DFND   50,000 0 0
RHINEBECK BANCORP INC Common 762093102 164 15,000 SH   DFND   15,000 0 0
RICHMOND MUT BANCORPORATIN INC Common 76525P100 473 30,000 SH   DFND   30,000 0 0
SOUND FINL BANCORP INC Common 83607A100 13,230 294,400 SH   DFND   294,400 0 0
SPDR S&P 500 ETF TR Common 78462F953 8,583 20,000 SH Put DFND   20,000 0 0
TC BANCSHARES INC Common 87224V108 279 20,000 SH   DFND   20,000 0 0
TFS FINL CORP Common 87240R107 1,906 100,000 SH   DFND   100,000 0 0
UNITED BANCSHARES INC OHIO Common 909458101 685 22,865 SH   DFND   22,865 0 0
VERSABANK Common 92512J106 5,862 530,500 SH   DFND   530,500 0 0
WHEELER REAL ESTATE INVT TR Common 963025705 3,473 1,181,336 SH   DFND   1,181,336 0 0
WILLIAM PENN BANCORP INC Common 96927A105 1,794 146,921 SH   DFND   146,921 0 0