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
THE AARONS COMPANY INC COM 00258W108 8,262 300,000 SH   DFND   300,000 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 15,005 71,832 SH   DFND   71,832 0 0
AMERISOURCBERGEN CORP COM 03073E105 8,222 68,829 SH   DFND   68,829 0 0
ADVANCED ENERGY INDS COM 007973100 9,596 109,365 SH   DFND   106,165 0 3,200
AKAMI TECHNOLOGIES INC COM 00971T101 2,896 27,695 SH   DFND   27,695 0 0
ALLISON TRANSMISSION HOLDINGS I COM 01973R101 4,769 135,034 SH   DFND   135,034 0 0
ANGIODYNAMICS INC COM 03475V101 7,716 297,452 SH   DFND   297,452 0 0
SMITH A O CORP COM 831865209 4,033 66,035 SH   DFND   66,035 0 0
ACCURAY INC COM 004397105 13,445 3,403,800 SH   DFND   3,243,300 0 160,500
ASSOCIATED BANC CORP COM 045487105 18,702 873,100 SH   DFND   851,600 0 21,500
ASTEC INDS INC COM 046224101 7,714 143,360 SH   DFND   143,360 0 0
AMTECH SYS INC COM PAR $0.01N 032332504 2,855 250,000 SH   DFND   250,000 0 0
ATN INTL INC COM 00215F107 13,440 286,874 SH   DFND   286,874 0 0
AMERICAN VANGUARD CORP COM 030371108 9,985 663,451 SH   DFND   663,451 0 0
AVANOS MED INC COM 05350V106 9,591 307,416 SH   DFND   307,416 0 0
BED BATH & BEYOND INC COM 075896100 7,996 462,850 SH   DFND   441,850 0 21,000
BARRETT BUSINESS SVCS INC COM 068463108 11,439 150,000 SH   DFND   150,000 0 0
POPULAR INC COM NEW 733174700 6,473 83,337 SH   DFND   83,337 0 0
BRADY CORP CL A 104674106 11,435 225,536 SH   DFND   225,536 0 0
BERKSHIRE HATHAWY INC DEL CL B NEW 084670702 3,997 14,644 SH   DFND   14,644 0 0
BERRY CORP COM 08579X101 14,888 2,064,875 SH   DFND   1,945,675 0 119,200
CONAGRA BRANDS INC COM 205887102 4,115 121,507 SH   DFND   121,507 0 0
CAL MAINE FOODS INC COM NEW 128030202 13,550 374,716 SH   DFND   374,716 0 0
CASS INFORMATION SYS INC COM 14808P109 3,679 87,911 SH   DFND   87,911 0 0
CBOE GLOBAL MKTS INC COM 12503M108 8,777 70,860 SH   DFND   70,860 0 0
CAPITAL CITY BK GROUP INC COM 139674105 13,836 559,275 SH   DFND   539,225 0 20,050
COGENT COMMUNICATIONS HLDGS COM NEW 19239V302 9,418 132,949 SH   DFND   132,949 0 0
CROSS CTRY HEALTHCARE INC COM 227483104 19,048 896,804 SH   DFND   896,804 0 0
CENTURY CMNTYS INC COM 156504300 23,326 379,600 SH   DFND   369,900 0 9,700
CECO ENVIRONMENTAL CORP COM 125141101 5,155 732,282 SH   DFND   688,382 0 43,900
CENTERRA GOLD INC COM 152006102 13,127 1,927,650 SH   DFND   1,852,650 0 75,000
CHAMPIONX CORPORATION COM 15872M104 17,752 793,918 SH   DFND   793,918 0 0
COMCAST CORP NEW CL A 20030N101 3,009 53,805 SH   DFND   53,805 0 0
CORE MOLDING TECHNOLOGIES IN COM 218683100 3,453 300,000 SH   DFND   300,000 0 0
CANADIAN NATL RY CO COM 136375102 2,281 19,724 SH   DFND   19,724 0 0
AMERICOLD RLTY TR COM 03064D108 604 20,804 SH   DFND   20,804 0 0
CYRUSONE INC COM 23283R100 11,612 150,000 SH   DFND   150,000 0 0
COWEN INC CL A NEW 223622606 18,598 542,050 SH   DFND   527,550 0 14,500
COMPUTER PROGRAMS & SYS INC COM 205306103 3,546 100,000 SH   DFND   100,000 0 0
CARTERS INC COM 146229109 5,834 60,000 SH   DFND   60,000 0 0
CISCO SYS INC COM 17275R102 2,938 53,970 SH   DFND   53,970 0 0
CARRIAGE SVCS INC COM 143905107 7,803 175,000 SH   DFND   175,000 0 0
COMMUNITY TR BANCORP INC COM 204149108 1,829 43,436 SH   DFND   43,436 0 0
CARETRUST REIT INC COM 14174T107 6,096 300,000 SH   DFND   300,000 0 0
COVENANT LOGISTICS GROUP INC CL A 22284P105 10,102 365,350 SH   DFND   351,450 0 13,900
DALLASNEWS CORPORATION COM SER A 235050101 710 104,250 SH   DFND   104,250 0 0
DIEBOLD NIXDORF INC COM STK 253651103 6,025 595,954 SH   DFND   566,454 0 29,500
DENBURY INC COM 24790A101 7,025 100,000 SH   DFND   100,000 0 0
DIGI INTL INC COM 253798102 3,153 150,000 SH   DFND   150,000 0 0
QUEST DIAGNOSTICS INC COM 74834L100 12,786 87,989 SH   DFND   87,989 0 0
WISDOMTREE TR INTL SMCAP DIV 97717W760 2,981 40,158 SH   DFND   40,158 0 0
DOLLAR TREE INC COM 256746108 5,022 52,467 SH   DFND   52,467 0 0
DRIL-QUIP INC COM 262037104 8,383 332,934 SH   DFND   332,934 0 0
DSP GROUPS INC COM 23332B106 8,420 384,299 SH   DFND   384,299 0 0
DXC TECHNOLOGY CO COM 23355L106 6,722 200,000 SH   DFND   200,000 0 0
ENCOMPASS HEALTH CORP COM 29261A100 11,455 152,648 SH   DFND   152,648 0 0
EASTMAN CHEM CO COM 277432100 1,715 17,020 SH   DFND   17,020 0 0
ENERSYS COM 29275Y102 4,478 60,150 SH   DFND   60,150 0 0
ENERPAC TOOL GROUP CORP CL A COM 292765104 6,366 307,104 SH   DFND   307,104 0 0
EMBRAER SA SPONSORED ADS 29082A107 8,500 500,000 SH   DFND   500,000 0 0
EVERI HLDGS INC COM 30034T103 3,385 140,000 SH   DFND   140,000 0 0
EVERTEC INC COM 30040P103 8,001 175,000 SH   DFND   175,000 0 0
EXELON CORP COM 30161N101 11,057 228,778 SH   DFND   228,778 0 0
EZCORP INC CL A NON VTG 302301106 6,646 878,000 SH   DFND   817,200 0 60,800
FIRSTCASH INC COM 33767D105 31,143 355,924 SH   DFND   355,924 0 0
FIRSTENERGY CORP COM 337932107 7,676 215,506 SH   DFND   215,506 0 0
F5 NETWORKS INC COM 315616102 4,513 22,704 SH   DFND   22,704 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 6,405 159,098 SH   DFND   159,098 0 0
FLOWSERVE CORP COM 34354P105 7,170 206,817 SH   DFND   206,817 0 0
FORESTAR GROUP INC COM 346232101 6,707 360,000 SH   DFND   339,350 0 20,650
GENPACT LIMITED SHS G3922B107 9,520 200,372 SH   DFND   200,372 0 0
GATX CORP COM 361448103 3,582 40,000 SH   DFND   40,000 0 0
GLACIER BANCORP INC NEW COM 37637Q105 8,507 153,690 SH   DFND   153,690 0 0
GEOSPACE TECHNOLOGIES CORP COM 37364X109 4,775 500,000 SH   DFND   500,000 0 0
GRIFFON CORP COM 398433102 5,029 204,447 SH   DFND   204,447 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 1,315 87,116 SH   DFND   87,116 0 0
ACUSHNET HLDGS CORP COM 005098108 6,936 148,513 SH   DFND   148,513 0 0
ALPHABET INC CAP STK CL A 02079K305 3,163 1,183 SH   DFND   1,183 0 0
GORMAN RUPP CO COM 383082104 11,602 323,976 SH   DFND   307,276 0 16,700
GRIFOLS S A SP ADR REP B NVT 398438408 2,368 162,094 SH   DFND   162,094 0 0
U S GLOBAL INVS INC CL A 902952100 2,561 450,000 SH   DFND   450,000 0 0
GRANITE CONSTR INC COM 387328107 8,511 215,208 SH   DFND   215,208 0 0
HAEMONETCS CORP MASS COM 405024100 25,019 354,432 SH   DFND   346,532 0 7,900
HAIN CELESTIAL GROUP INC COM 405217100 5,264 123,057 SH   DFND   123,057 0 0
HARVARD BIOSCIENCE INC COM 416906105 2,792 400,000 SH   DFND   400,000 0 0
HOLLY FRONTIER CORP COM 436106108 2,604 78,591 SH   DFND   78,591 0 0
HERITAGE FINL CORP WASH COM 42722X106 9,142 358,500 SH   DFND   338,400 0 20,100
HARTFORD FINL SVCS GROUP INC COM 416515104 6,428 91,507 SH   DFND   91,507 0 0
HUNTINGTON INGALLS INDS INC COM 446413106 3,444 17,838 SH   DFND   17,838 0 0
HIGHWOODS PPTYS INC COM 431284108 10,303 234,900 SH   DFND   223,250 0 11,650
HILTON WORLDWIDE HLDGS INC COM 43300A203 593 4,490 SH   DFND   4,490 0 0
HANGER INC COM NEW 41043F208 7,309 332,837 SH   DFND   332,837 0 0
HOOKER FURNISHINGS CORPORATI COM 439038100 2,075 76,880 SH   DFND   76,880 0 0
HARLEY DAVIDSON INC COM 412822108 7,695 210,188 SH   DFND   210,188 0 0
HUDSON GLOBAL INC COM NEW 443787205 5,371 337,376 SH   DFND   322,936 0 14,440
HEALTHSTREAM INC COM 42222N103 3,743 130,958 SH   DFND   130,958 0 0
HEARTLAND EXPRESS INC COM 422347104 5,336 333,058 SH   DFND   333,058 0 0
HOWMET AEROSPACE INC COM 443201108 1,431 45,881 SH   DFND   45,881 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 4,724 75,770 SH   DFND   75,770 0 0
INTELLICHECK INC COM NEW 45817G201 3,645 445,000 SH   DFND   445,000 0 0
IHEARTMEDIA INC Com CL A 45174J509 6,255 250,000 SH   DFND   250,000 0 0
IMMERSION CORP COM 452521107 2,052 300,000 SH   DFND   300,000 0 0
FIRST INTERNET BANCORP COM 320557101 11,345 363,871 SH   DFND   343,121 0 20,750
INDEPENDENT BANK CORP MASS COM 453836108 8,587 112,764 SH   DFND   112,764 0 0
JOHNSON & JOHNSON COM 478160104 3,712 22,986 SH   DFND   22,986 0 0
KEMPER CORP COM 488401100 10,925 163,575 SH   DFND   159,225 0 4,350
KENNAMETAL INC COM 489170100 10,473 305,953 SH   DFND   305,953 0 0
KNOWLES CORP COM 49926D109 10,845 578,723 SH   DFND   578,723 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 13,373 117,874 SH   DFND   117,874 0 0
LINCOLN ELEC HLDGS INC COM 533900106 558 4,330 SH   DFND   4,330 0 0
LINDE PLC SHS G5494J103 2,861 9,752 SH   DFND   9,752 0 0
LINCOLN EDL SVCS CORP COM 533535100 15,078 2,253,850 SH   DFND   2,150,050 0 103,800
LIMBACH HLDGS INC Com 53263P105 2,648 400,000 SH   DFND   400,000 0 0
LANDEC CORP COM 514766104 11,339 1,229,815 SH   DFND   1,169,425 0 60,390
GRAND CANYON ED INC COM 38526M106 5,230 59,462 SH   DFND   59,462 0 0
MANPOWERGROUP INC WIS COM 56418H100 815 7,530 SH   DFND   7,530 0 0
MASTERCRAFT BOAT HLDGS INC COM 57637H103 6,984 278,450 SH   DFND   267,850 0 10,600
MARCHEX INC CL B 56624R108 3,041 1,018,707 SH   DFND   1,018,707 0 0
M D C HLDGS INC COM 552676108 934 20,000 SH   DFND   20,000 0 0
MEDTRONIC PLC SHS G5960L103 1,628 12,991 SH   DFND   12,991 0 0
MDU RES GROUP INC COM 552690109 8,865 298,800 SH   DFND   282,800 0 16,000
MAYVILLE ENGR CO INC COM 578605107 1,034 55,000 SH   DFND   55,000 0 0
METHODE ELECTRS INC COM 591520200 14,217 338,097 SH   DFND   338,097 0 0
MOHAWK INDS INC COM 608190104 3,600 20,292 SH   DFND   20,292 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 3,730 200,000 SH   DFND   200,000 0 0
MOTORCAR PTS AMER INC COM 620071100 3,834 196,598 SH   DFND   196,598 0 0
MARTEN TRANS LTD COM 573075108 2,354 150,000 SH   DFND   150,000 0 0
MGIC INVT CORP WIS COM 552848103 10,472 700,000 SH   DFND   700,000 0 0
MATERION CORP COM 576690101 10,903 158,836 SH   DFND   158,836 0 0
MATRIX SVC CO COM 576853105 4,184 400,000 SH   DFND   400,000 0 0
MINERALS TECHNOLOGIES INC COM 603158106 792 11,343 SH   DFND   11,343 0 0
NATIONAL FUEL GAS CO COM 636180101 6,623 126,100 SH   DFND   117,200 0 8,900
NOV INC COM 62955J103 14,608 1,114,286 SH   DFND   1,094,286 0 20,000
NVENT ELECTRIC PLC SHS G6700G107 9,921 306,876 SH   DFND   300,476 0 6,400
NORTHWESTERN CORP COM NEW 668074305 8,513 148,671 SH   DFND   148,671 0 0
NORTHWEST PIPE CO COM 667746101 10,903 460,025 SH   DFND   439,775 0 20,250
NEXSTAR MEDIA GROUP INC CL A 65336K103 2,949 19,404 SH   DFND   19,404 0 0
ORION ENERGY SYS INC COM 686275108 5,108 1,313,050 SH   DFND   1,206,050 0 107,000
ORTHOFIX MED INC COM 68752M108 8,882 233,000 SH   DFND   221,850 0 11,150
OLD NATL BANCORP IND COM 680033107 6,950 410,057 SH   DFND   410,057 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 6,778 603,600 SH   DFND   603,600 0 0
ORACLE CORP COM 68389X105 2,563 29,417 SH   DFND   29,417 0 0
OLD REP INTL CORP COM 680223104 16,791 725,951 SH   DFND   725,951 0 0
PHILBRO ANIMAL HEALTH CORP CL A COM 71742Q106 16,442 763,311 SH   DFND   763,311 0 0
POTBELLY CORP COM 73754Y100 2,373 350,000 SH   DFND   350,000 0 0
POTLATCHDELTIC CORPORATION COM 737630103 14,152 274,483 SH   DFND   274,483 0 0
PURE CYCLE CORP COM NEW 746228303 6,655 500,000 SH   DFND   500,000 0 0
PATTERSON COS INC COM 703395103 12,243 406,200 SH   DFND   387,250 0 18,950
PERMA-FIX ENVIRONMENTAL SVCS COM NEW 714157203 7,929 1,192,310 SH   DFND   1,096,310 0 96,000
PARK AEROSPACE CORP COM 70014A104 9,739 711,901 SH   DFND   711,901 0 0
PHOTRONICS INC COM 719405102 11,666 855,900 SH   DFND   818,900 0 37,000
DOUGLAS DYNAMICS INC COM 25960R105 4,650 128,104 SH   DFND   128,104 0 0
PORTLAND GEN ELEC CO COM NEW 736508847 15,404 327,823 SH   DFND   327,823 0 0
POST HLDGS INC COM 737446104 2,948 26,765 SH   DFND   26,765 0 0
POWELL INDS INC COM 739128106 8,054 327,811 SH   DFND   327,811 0 0
PPG INDS INC COM 693506107 9,012 63,018 SH   DFND   63,018 0 0
PROASSURANCE CORP COM 74267C106 6,829 287,189 SH   DFND   287,189 0 0
PERRIGO CO PLC SHS G97822103 38,462 812,635 SH   DFND   803,635 0 9,000
PRIMO WATER CORPORATION COM 74167P108 7,001 445,353 SH   DFND   445,353 0 0
PUBLIC STORAGE COM 74460D109 4,572 15,388 SH   DFND   15,388 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 16,885 107,727 SH   DFND   107,727 0 0
PRETIUM RES INC COM 74139C102 11,356 1,178,050 SH   DFND   1,120,050 0 58,000
PIONEER NAT RES CO COM 723787107 12,588 75,598 SH   DFND   75,598 0 0
QUANTUM CORP COM NEW 747906501 4,144 800,000 SH   DFND   800,000 0 0
RADIAN GROUP INC COM 750236101 18,265 803,900 SH   DFND   785,375 0 18,525
REINSURANCE GRP OF AMERICA I COM NEW 759351604 10,196 91,642 SH   DFND   91,642 0 0
RESOURCES CONNECTION INC COM 76122Q105 8,404 532,562 SH   DFND   532,562 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 3,940 47,073 SH   DFND   47,073 0 0
RAYMOND JAMES FINL INC COM 754730109 1,613 17,479 SH   DFND   17,479 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 1,863 13,082 SH   DFND   13,082 0 0
SANDERSON FARMS INC COM 800013104 4,000 21,256 SH   DFND   21,256 0 0
SONIC AUTOMOTIVE INC CL A 83545G102 12,110 230,497 SH   DFND   230,497 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 11,609 343,374 SH   DFND   343,374 0 0
SCHNITZER STEEL INDS INC CL A 806882106 8,987 204,781 SH   DFND   204,781 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 14,748 1,235,204 SH   DFND   1,192,504 0 42,700
SHYFT GROUP INC COM 825698103 11,403 300,000 SH   DFND   300,000 0 0
SNAP ON INC COM 833034101 3,901 18,668 SH   DFND   18,668 0 0
SPECTRUM BRANDS HLDGS INC NE COM 84790A105 19,103 199,679 SH   DFND   199,679 0 0
STERICYCLE INC COM 858912108 9,693 142,607 SH   DFND   142,607 0 0
STATE AUTO FINL CORP COM 855707105 15,285 300,000 SH   DFND   300,000 0 0
STERLING CONSTR INC COM 859241101 5,101 225,000 SH   DFND   225,000 0 0
SUNCOR ENERGY INC NEW COM 867224107 2,307 111,248 SH   DFND   111,248 0 0
SIERRA WIRELESS INC COM 826516106 7,505 484,200 SH   DFND   455,650 0 28,550
SKYWORKS SOLUTIONS INC COM 83088M102 11,939 72,442 SH   DFND   72,442 0 0
SCHWEITZER-MAUDUIT INTL INC COM 808541106 7,992 230,595 SH   DFND   230,595 0 0
SOUTHWEST GAS HLDGS INC COM 844895102 3,344 50,000 SH   DFND   50,000 0 0
SENSIENT TECHNOLOGIES CORP COM 81725T100 4,671 51,286 SH   DFND   51,286 0 0
STOCK YDS BANCORP INC COM 861025104 1,206 20,556 SH   DFND   20,556 0 0
BANCORP INC DEL COM 05969A105 7,635 300,000 SH   DFND   300,000 0 0
TRICO BANCSHARES COM 896095106 8,680 200,000 SH   DFND   200,000 0 0
TERADATA CORP DEL COM 88076W103 8,841 154,156 SH   DFND   154,156 0 0
TENNECO INC CL A VTG COM STK 880349105 4,281 300,000 SH   DFND   300,000 0 0
TECNOGLASS INC SHS G87264100 8,692 400,000 SH   DFND   400,000 0 0
HANOVER INS GROUP INC COM 410867105 9,963 76,865 SH   DFND   76,865 0 0
THOR INDS INC COM 885160101 14,301 116,496 SH   DFND   113,271 0 3,225
TREEHOUSE FOODS INC COM 89469A104 8,175 204,996 SH   DFND   204,996 0 0
TOOTSIE ROLL INDS INC COM 890516107 6,079 199,758 SH   DFND   199,758 0 0
TRIMAS CORP COM NEW 896215209 8,616 266,266 SH   DFND   266,266 0 0
TRISTATE CAP HLDGS INC COM 89678F100 8,460 400,000 SH   DFND   400,000 0 0
TWIN DISC INC COM 901476101 4,151 389,439 SH   DFND   389,439 0 0
UNIFI INC COM NEW 904677200 3,290 150,000 SH   DFND   150,000 0 0
AMERCO COM 023586100 10,317 15,970 SH   DFND   15,970 0 0
UNILEVER PLC SPON ADR NEW 904767704 3,260 60,119 SH   DFND   60,119 0 0
USANA HEALTH SCIENCES INC COM 90328M107 5,532 60,000 SH   DFND   60,000 0 0
VONAGE HLDGS CORP COM 92886T201 17,636 1,094,050 SH   DFND   1,062,050 0 32,000
VISTRA CORP COM 92840M102 17,392 1,017,050 SH   DFND   980,850 0 36,200
WELLS FARGO CO NEW COM 949746101 1,350 29,086 SH   DFND   29,086 0 0
WORTHINGTON INDS INC COM 981811102 4,051 76,864 SH   DFND   76,864 0 0
WIDEOPENWEST INC COM 96758W101 4,477 227,850 SH   DFND   217,150 0 10,700
WESTPORT FUEL SYSTEMS INC COM NEW 960908309 2,303 700,000 SH   DFND   700,000 0 0
DENTSPLY SIRONA INC COM 24906P109 6,006 103,461 SH   DFND   103,461 0 0
ZOVIO INC COM 98979V102 6,003 2,511,512 SH   DFND   2,306,890 0 204,622