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 COM 28253R105 520 50,000 SH   DFND   50,000 0 0
AFFINITY BANCSHARES INC COM 00832E103 947 64,840 SH   DFND   64,840 0 0
BLUE FOUNDRY BANCORP COM 09549B104 264 23,677 SH   DFND   23,677 0 0
CARNIVAL CORP COM 143658300 352 50,000 SH   DFND   50,000 0 0
CATALYST BANCORP INC COM 14888L101 496 39,991 SH   DFND   39,991 0 0
CFSB BANCORP INC COM 12530C107 88 10,000 SH   DFND   10,000 0 0
CINCINNATI BANCORP INC COM 17187C102 2,054 140,000 SH   DFND   140,000 0 0
CULLMAN BANCORP INC COM 230153108 267 25,000 SH   DFND   25,000 0 0
DEUTSCHE BK AG LONDON BRH DB GOLD DBL LNG 25154H749 370 50,000 SH   DFND   50,000 0 0
ECB BANCORP INC COM 26828M106 288 20,000 SH   DFND   20,000 0 0
ESSA BANCORP INC COM 29667D104 485 25,000 SH   DFND   25,000 0 0
FFBW INC MD COM 30260M103 84 7,038 SH   DFND   7,038 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 1,379 60,000 SH   DFND   60,000 0 0
FIRST SEACOAST BANCORP COM 33631P102 196 19,000 SH   DFND   19,000 0 0
FRANKLIN FINL SVCS CORP COM 353525108 142 4,500 SH   DFND   4,500 0 0
FS BANCORP INC COM 30263Y104 3,691 135,418 SH   DFND   135,418 0 0
GENERATIONS BANCORP NY INC COM 37149G108 2,462 222,849 SH   DFND   222,849 0 0
HARBORONE BANCORP INC NEW COM 41165Y100 374 27,883 SH   DFND   27,883 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 1,498 80,000 SH   DFND   80,000 0 0
ICC HLDGS INC COM 44931Q104 4,534 297,305 SH   DFND   297,305 0 0
IF BANCORP INC COM 44951J105 516 27,219 SH   DFND   27,219 0 0
KINGSWAY FINL SVCS INC COM 496904202 52,836 7,613,272 SH   DFND   7,613,272 0 0
LAKE SHORE BANCORP INC COM 510700107 1,318 100,000 SH   DFND   100,000 0 0
MAGYAR BANCORP INC COM 55977T208 497 40,000 SH   DFND   40,000 0 0
METLIFE INC COM 59156R108 4 60 SH   DFND   60 0 0
MID-SOUTHERN BANCORP INC COM 59548Q107 670 50,000 SH   DFND   50,000 0 0
NORTHEAST CMNTY BANCORP INC COM 664121100 1,736 140,000 SH   DFND   140,000 0 0
OFG BANCORP COM 67103X102 43,721 1,739,798 SH   DFND   1,739,798 0 0
PB BANKSHARES INC COM 69318V103 340 27,431 SH   DFND   27,431 0 0
PONCE FINANCIAL GROUP INC COM 732344106 275 30,000 SH   DFND   30,000 0 0
PRINCIPAL FINANCIAL GROUP IN COM 74251V102 39 547 SH   DFND   547 0 0
PROVIDENT BANCORP INC COM 74383L105 716 50,000 SH   DFND   50,000 0 0
RHINEBECK BANCORP INC COM 762093102 146 15,000 SH   DFND   15,000 0 0
RICHMOND MUT BANCORPORATION COM 76525P100 403 30,000 SH   DFND   30,000 0 0
SOUND FINL BANCORP INC COM 83607A100 12,883 317,936 SH   DFND   317,936 0 0
TC BANCSHARES INC COM 87224V108 288 20,000 SH   DFND   20,000 0 0
WHEELER REAL ESTATE INVT TR COM 963025705 1,536 1,181,336 SH   DFND   1,181,336 0 0
WHEELER REAL ESTATE INVT TR PFD CNV SER D 963025606 1,001 86,150 SH   DFND   86,150 0 0