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
AMERISERV FINANC INC COM 03074A102 67 17,000 SH   OTR   0 17,000 0
AMERISERV FINANC INC COM 03074A102 162 41,200 SH   SOLE   41,200 0 0
ASTRONICS CORP COM 046433108 828 81,587 SH   OTR   0 81,587 0
ASTRONICS CORP COM 046433108 3,057 301,200 SH   SOLE   301,200 0 0
AUDACY INC CL A 05070N103 73 77,400 SH   OTR   0 77,400 0
CAMDEN NATIONAL CORP COM 133034108 1,757 39,968 SH   OTR   0 39,968 0
CAMDEN NATIONAL CORP COM 133034108 2,330 53,000 SH   SOLE   53,000 0 0
CECO ENVIRONMENTAL CORP COM 125141101 212 35,458 SH   OTR   0 35,458 0
CECO ENVIRONMENTAL CORP COM 125141101 678 113,371 SH   SOLE   113,371 0 0
CHASE CORP COM 16150R104 2,666 34,420 SH   OTR   0 34,420 0
CHASE CORP COM 16150R104 6,648 85,833 SH   SOLE   85,833 0 0
CITIZENS & NORTHERN CORP COM 172922106 395 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106 638 26,500 SH   SOLE   26,500 0 0
CITIZENS FINL GROUP INC COM 174610105 238 6,656 SH   OTR   0 6,656 0
CITIZENS FINL GROUP INC COM 174610105 605 16,929 SH   SOLE   16,929 0 0
COLUMBIA FINANCIAL INC COM 197641103 727 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106 419 6,618 SH   OTR   0 6,618 0
COMPUTER TASK GROUP INC COM 205477102 2,060 245,268 SH   OTR   0 245,268 0
COMPUTER TASK GROUP INC COM 205477102 8,287 986,526 SH   SOLE   986,526 0 0
COMPX INTERNATIONAL CL A 20563P101 171 7,597 SH   OTR   0 7,597 0
COMPX INTERNATIONAL CL A 20563P101 501 22,250 SH   SOLE   22,250 0 0
CONTANGO ORE INC COM 21077F100 414 17,600 SH   OTR   0 17,600 0
CONTANGO ORE INC COM 21077F100 2,137 90,918 SH   SOLE   90,918 0 0
DALLASNEWS CORPORATION COM SER A 235050101 254 40,347 SH   OTR   0 40,347 0
DALLASNEWS CORPORATION COM SER A 235050101 946 150,159 SH   SOLE   150,159 0 0
DELUXE CORP COM 248019101 301 13,900 SH   OTR   0 13,900 0
DLH HOLDINGS CORP COM 23335Q100 519 34,679 SH   OTR   0 34,679 0
DLH HOLDINGS CORP COM 23335Q100 1,758 117,499 SH   SOLE   117,499 0 0
DONEGAL GROUP INC CL B 257701300 69 4,500 SH   OTR   0 4,500 0
DONEGAL GROUP INC CL B 257701300 204 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201 390 22,875 SH   OTR   0 22,875 0
DONEGAL GROUP INC CL A 257701201 402 23,615 SH   SOLE   23,615 0 0
DORMAN PRODUCTS INC COM 258278100 942 8,590 SH   OTR   0 8,590 0
DORMAN PRODUCTS INC COM 258278100 932 8,500 SH   SOLE   8,500 0 0
EAGLE BANCORP MONT INC COM 26942G100 76 3,900 SH   OTR   0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100 337 17,198 SH   SOLE   17,198 0 0
EASTERN CO COM 276317104 1,629 82,492 SH   OTR   0 82,492 0
EASTERN CO COM 276317104 5,661 286,625 SH   SOLE   286,625 0 0
ESCALADE INC COM 296056104 1,840 142,229 SH   OTR   0 142,229 0
ESCALADE INC COM 296056104 4,212 325,469 SH   SOLE   325,469 0 0
FIRST MERCHANTS CORP COM 320817109 174 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109 178 5,000 SH   SOLE   5,000 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 134 5,700 SH   OTR   0 5,700 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 247 10,521 SH   SOLE   10,521 0 0
FNB CORP COM 302520101 127 11,690 SH   OTR   0 11,690 0
FNB CORP COM 302520101 630 58,000 SH   SOLE   58,000 0 0
FOSTER L B CO COM 350060109 417 32,774 SH   OTR   0 32,774 0
FOSTER L B CO COM 350060109 286 22,489 SH   SOLE   22,489 0 0
FREIGHTCAR AMERICA INC COM 357023100 770 214,584 SH   OTR   0 214,584 0
FREIGHTCAR AMERICA INC COM 357023100 2,052 571,500 SH   SOLE   571,500 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 2,750 209,900 SH   OTR   0 209,900 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 10,082 769,640 SH   SOLE   769,640 0 0
GSE SYSTEMS INC COM 36227K106 119 98,712 SH   OTR   0 98,712 0
GSE SYSTEMS INC COM 36227K106 520 429,606 SH   SOLE   429,606 0 0
HORIZON BANCORP INDIANA COM 440407104 123 7,052 SH   OTR   0 7,052 0
HORIZON BANCORP INDIANA COM 440407104 488 28,000 SH   SOLE   28,000 0 0
HV BANCORP INC COM 40441H105 518 25,890 SH   SOLE   25,890 0 0
ICC HOLDINGS INC COM 44931Q104 135 8,414 SH   OTR   0 8,414 0
ICC HOLDINGS INC COM 44931Q104 399 24,953 SH   SOLE   24,953 0 0
IMMUCELL CORP COM 452525306 39 4,554 SH   OTR   0 4,554 0
IMMUCELL CORP COM 452525306 63 7,404 SH   SOLE   7,404 0 0
INFUSYSTEM HLDGS INC COM 45685K102 1,765 183,884 SH   OTR   0 183,884 0
INFUSYSTEM HLDGS INC COM 45685K102 6,364 662,967 SH   SOLE   662,967 0 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 1,871 116,930 SH   SOLE   116,930 0 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 648 40,494 SH   OTR   0 40,494 0
LAKE SHORE BANCORP INC COM 510700107 79 5,700 SH   OTR   0 5,700 0
LAKE SHORE BANCORP INC COM 510700107 195 14,000 SH   SOLE   14,000 0 0
LGL GROUP INC COM 50186A108 62 4,901 SH   OTR   0 4,901 0
LGL GROUP INC COM 50186A108 102 8,000 SH   SOLE   8,000 0 0
LUMOS PHARMA INC COM 55028X109 102 13,549 SH   OTR   0 13,549 0
LUMOS PHARMA INC COM 55028X109 154 20,466 SH   SOLE   20,466 0 0
MALVERN BANCORP INC COM 561409103 754 48,000 SH   SOLE   48,000 0 0
MALVERN BANCORP INC COM 561409103 82 5,206 SH   OTR   0 5,206 0
MID PENN BANCORP COM 59540G107 336 12,503 SH   OTR   0 12,503 0
MID PENN BANCORP COM 59540G107 1,053 39,229 SH   SOLE   39,229 0 0
MID SOUTHERN BANCORP COM 59548Q107 121 8,915 SH   OTR   0 8,915 0
MID SOUTHERN BANCORP COM 59548Q107 174 12,791 SH   SOLE   12,791 0 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 872 77,547 SH   OTR   0 77,547 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 2,949 262,165 SH   SOLE   262,165 0 0
NEXTCURE INC COM 65343E108 56 11,900 SH   OTR   0 11,900 0
NEXTCURE INC COM 65343E108 93 19,813 SH   SOLE   19,813 0 0
NI HOLDINGS INC COM 65342T106 476 29,500 SH   OTR   0 29,500 0
NI HOLDINGS INC COM 65342T106 1,620 100,400 SH   SOLE   100,400 0 0
NORTHEAST CMNTY BANCORP INC COM 664121100 19 1,639 SH   OTR   0 1,639 0
NORTHEAST CMNTY BANCORP INC COM 664121100 294 25,000 SH   SOLE   25,000 0 0
NORTHWEST BANCSHARES INC MD COM 667340103 486 38,000 SH   SOLE   38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107 113 4,729 SH   OTR   0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107 215 8,952 SH   SOLE   8,952 0 0
OCONEE FED FINL CORP COM 675607105 248 11,451 SH   SOLE   11,451 0 0
PATHFINDER BANCORP INC COM 70319R109 924 47,399 SH   OTR   0 47,399 0
PATHFINDER BANCORP INC COM 70319R109 3,983 204,250 SH   SOLE   204,250 0 0
PATRIOT TRANSPORTATION HOLDING INC COM 70338W105 331 44,541 SH   OTR   0 44,541 0
PATRIOT TRANSPORTATION HOLDING INC COM 70338W105 1,501 202,042 SH   SOLE   202,042 0 0
PROASSURANCE CORP COM 74267C106 202 8,534 SH   OTR   0 8,534 0
PROASSURANCE CORP COM 74267C106 206 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL BANCORP COM 76525P100 419 30,000 SH   SOLE   30,000 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300 1,288 52,807 SH   OTR   0 52,807 0
SAGA COMMUNICATIONS INC CL A NEW 786598300 3,754 153,864 SH   SOLE   153,864 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 1,554 124,707 SH   OTR   0 124,707 0
SCRIPPS E W CO OHIO CL A NEW 811054402 4,968 398,700 SH   SOLE   398,700 0 0
SIFCO INDUSTRIES INC COM 826546103 237 76,608 SH   OTR   0 76,608 0
SIFCO INDUSTRIES INC COM 826546103 958 309,100 SH   SOLE   309,100 0 0
SOUTH STATE CORP COM 840441109 437 5,661 SH   OTR   0 5,661 0
STARRETT L S CO CL A 855668109 113 16,237 SH   OTR   0 16,237 0
STARRETT L S CO CL A 855668109 292 42,000 SH   SOLE   42,000 0 0
SYNALLOY CP DEL COM 871565107 168 12,369 SH   OTR   0 12,369 0
SYNALLOY CP DEL COM 871565107 668 49,084 SH   SOLE   49,084 0 0
THRYV HOLDINGS INC COM NEW 886029206 217 9,703 SH   OTR   0 9,703 0
THRYV HOLDINGS INC COM NEW 886029206 894 40,000 SH   SOLE   40,000 0 0
TREDEGAR CORP COM 894650100 632 63,213 SH   OTR   0 63,213 0
TREDEGAR CORP COM 894650100 1,407 140,709 SH   SOLE   140,709 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 1,103 154,004 SH   OTR   0 154,004 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 4,144 578,823 SH   SOLE   578,823 0 0
US LIME & MINERAL COM 911922102 1,346 12,780 SH   OTR   0 12,780 0
US LIME & MINERAL COM 911922102 2,811 26,681 SH   SOLE   26,681 0 0
VILLAGE BANK & TRUST FIN CO COM NEW 92705T200 790 17,947 SH   SOLE   17,947 0 0
VILLAGE BANK & TRUST FIN CO COM NEW 92705T200 79 1,798 SH   OTR   0 1,798 0
VIRCO MANUFACTURING CO COM 927651109 813 215,749 SH   OTR   0 215,749 0
VIRCO MANUFACTURING CO COM 927651109 2,673 709,012 SH   SOLE   709,012 0 0
WILLIAMS INDUSTRIAL SERVICES GROUP INC COM 96951A104 568 420,501 SH   OTR   0 420,501 0
WILLIAMS INDUSTRIAL SERVICES GROUP INC COM 96951A104 1,950 1,444,110 SH   SOLE   1,444,110 0 0