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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1895 BANCORP OF WIS INC COM 28253R105   374,500 50,000 SH   DFND   50,000 0 0
AFFINITY BANCSHARES INC COM 00832E103   757,980 64,840 SH   DFND   64,840 0 0
BLUE FOUNDRY BANCORP COM 09549B104   239,374 23,677 SH   DFND   23,677 0 0
CATALYST BANCORP INC COMMON STOCK 14888L101   441,101 39,991 SH   DFND   39,991 0 0
CFSB BANCORP INC COM 12530C107   79,900 10,000 SH   DFND   10,000 0 0
CULLMAN BANCORP INC COM 230153108   266,500 25,000 SH   DFND   25,000 0 0
ECB BANCORP INC COM 26828M106   261,600 20,000 SH   DFND   20,000 0 0
ESSA BANCORP INC COM 29667D104   540,876 36,179 SH   DFND   36,179 0 0
FIRST NORTHWEST BANCORP COM 335834107   1,206,621 106,030 SH   DFND   106,030 0 0
FIRST SVGS FINL GROUP INC COM 33621E109   794,994 60,000 SH   DFND   60,000 0 0
FIRST SEACOAST BANCORP INC COM 33631F104   287,758 35,880 SH   DFND   35,880 0 0
FIRST US BANCSHARES INC COM 33744V103   1,055,925 123,500 SH   DFND   123,500 0 0
FS BANCORP INC COM 30263Y104   3,608,400 120,000 SH   DFND   120,000 0 0
GENERATIONS BANCORP NY INC COM 37149G108   2,021,240 222,849 SH   DFND   222,849 0 0
HARBORONE BANCORP INC NEW COM NEW 41165Y100   242,024 27,883 SH   DFND   27,883 0 0
HOME FED BANCORP INC LA NEW COM 43708L108   1,123,200 80,000 SH   DFND   80,000 0 0
ICC HLDGS INC COM 44931Q104   4,827,063 304,837 SH   DFND   304,837 0 0
IF BANCORP INC COM 44951J105   1,704,353 118,030 SH   DFND   118,030 0 0
KINGSWAY FINL SVCS INC COM NEW 496904202   60,684,264 7,445,922 SH   DFND   7,445,922 0 0
LAKE SHORE BANCORP INC COM 510700107   1,077,000 100,000 SH   DFND   100,000 0 0
MAGYAR BANCORP INC COM 55977T208   413,600 40,000 SH   DFND   40,000 0 0
METLIFE INC COM 59156R108   3,392 60 SH   DFND   60 0 0
MID-SOUTHERN BANCORP INC COM 59548Q107   652,500 50,000 SH   DFND   50,000 0 0
NORTHEAST CMNTY BANCORP INC COM 664121100   2,083,200 140,000 SH   DFND   140,000 0 0
OFG BANCORP COM 67103X102   2,242,880 86,000 SH   DFND   86,000 0 0
PB BANKSHARES INC COM 69318V103   378,548 27,431 SH   DFND   27,431 0 0
PONCE FINANCIAL GROUP INC COMMON STOCK 732344106   260,700 30,000 SH   DFND   30,000 0 0
PRINCIPAL FINANCIAL GROUP IN COM 74251V102   41,484 547 SH   DFND   547 0 0
PROVIDENT BANCORP INC COM NEW 74383L105   13,931,862 1,682,592 SH   DFND   1,682,592 0 0
RHINEBECK BANCORP INC COM 762093102   100,950 15,000 SH   DFND   15,000 0 0
RICHMOND MUT BANCORPORATION COM 76525P100   331,200 30,000 SH   DFND   30,000 0 0
SOUND FINL BANCORP INC COM 83607A100   12,713,899 358,138 SH   DFND   358,138 0 0
SPDR S&P 500 ETF TR COM 78462F953   4,432,800 10,000 SH Put DFND   10,000 0 0
SPDR S&P 500 ETF TR COM 78462F953   8,865,600 20,000 SH Put DFND   20,000 0 0
TC BANCSHARES INC COM 87224V108   286,000 20,000 SH   DFND   20,000 0 0
WHEELER REAL ESTATE INVT TR CV PFD SER B 963025309   1,307,336 817,085 SH   DFND   817,085 0 0
WHEELER REAL ESTATE INVT TR PFD CNV SER D 963025606   2,596,413 207,713 SH   DFND   207,713 0 0
WHEELER REAL ESTATE INVT TR COM NEW 963025705   727,703 1,181,336 SH   DFND   1,181,336 0 0
WHEELER REAL ESTATE INVT TR 7% SR NT 31 963025804   46,189,769 999,995 SH   DFND   999,995 0 0