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
ADAMS RESOURCES & ENERGY INC COM NEW 006351308 184 7,823 SH   OTR   0 7,823 0
ADAMS RESOURCES & ENERGY INC COM NEW 006351308 561 23,872 SH   SOLE   23,872 0 0
AEHR TEST SYSTEMS COM 00760J108 3 1,832 SH   OTR   0 1,832 0
AEHR TEST SYSTEMS COM 00760J108 27 16,713 SH   SOLE   16,713 0 0
AH BELO CORP COM CL A 001282102 551 320,087 SH   OTR   0 320,087 0
AH BELO CORP COM CL A 001282102 1,023 594,605 SH   SOLE   594,605 0 0
AMERISERV FINANC INC COM 03074A102 123 47,061 SH   OTR   0 47,061 0
AMERISERV FINANC INC COM 03074A102 174 66,300 SH   SOLE   66,300 0 0
ASML HOLDING N V NY REG SHS N07059210 165 631 SH   OTR   0 631 0
ASML HOLDING N V NY REG SHS N07059210 308 1,176 SH   SOLE   1,176 0 0
ASTRONICS CORP COM 046433108 93 10,129 SH   OTR   0 10,129 0
ASTRONICS CORP COM 046433108 200 21,839 SH   SOLE   21,839 0 0
CAMDEN NATIONAL CORP COM 133034108 2,534 81,465 SH   OTR   0 81,465 0
CAMDEN NATIONAL CORP COM 133034108 1,826 58,687 SH   SOLE   58,687 0 0
CECO ENVIRONMENTAL CORP COM 125141101 165 35,458 SH   OTR   0 35,458 0
CECO ENVIRONMENTAL CORP COM 125141101 527 113,371 SH   SOLE   113,371 0 0
CENTERSTATE BANK CORP COM 15201P109 530 30,783 SH   OTR   0 30,783 0
CENTERSTATE BANK CORP COM 15201P109 431 25,000 SH   SOLE   25,000 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 1,111 18,541 SH   OTR   0 18,541 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 579 9,663 SH   SOLE   9,663 0 0
CHASE CORP COM 16150R104 3,354 40,757 SH   OTR   0 40,757 0
CHASE CORP COM 16150R104 9,983 121,313 SH   SOLE   121,313 0 0
CITIZENS & NORTHERN CORP COM 172922106 318 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106 513 26,500 SH   SOLE   26,500 0 0
COLUMBIA FINANCIAL INC COM 197641103 487 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106 798 13,577 SH   OTR   0 13,577 0
COMMUNITY BANK SYS INC COM 203607106 2 27 SH   SOLE   27 0 0
COMPUTER TASK GROUP INC COM 205477102 1,124 302,857 SH   OTR   0 302,857 0
COMPUTER TASK GROUP INC COM 205477102 3,320 894,854 SH   SOLE   894,854 0 0
COMPX INTERNATIONAL CL A 20563P101 130 8,579 SH   OTR   0 8,579 0
COMPX INTERNATIONAL CL A 20563P101 342 22,484 SH   SOLE   22,484 0 0
CONTINENTAL MATERIALS CORP COM PAR $0.25 211615307 72 8,040 SH   OTR   0 8,040 0
CONTINENTAL MATERIALS CORP COM PAR $0.25 211615307 214 23,800 SH   SOLE   23,800 0 0
DAWSON GEOPHYSICAL CO NEW COM 239360100 76 78,014 SH   OTR   0 78,014 0
DAWSON GEOPHYSICAL CO NEW COM 239360100 311 319,749 SH   SOLE   319,749 0 0
DELUXE CORP COM 248019101 554 21,367 SH   OTR   0 21,367 0
DELUXE CORP COM 248019101 246 9,500 SH   SOLE   9,500 0 0
DLH HOLDINGS CORP COM 23335Q100 92 22,000 SH   OTR   0 22,000 0
DLH HOLDINGS CORP COM 23335Q100 274 65,192 SH   SOLE   65,192 0 0
DONEGAL GROUP INC CL B 257701300 133 9,946 SH   OTR   0 9,946 0
DONEGAL GROUP INC CL B 257701300 179 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201 293 19,565 SH   OTR   0 19,565 0
DONEGAL GROUP INC CL A 257701201 49 3,280 SH   SOLE   3,280 0 0
DORMAN PRODUCTS INC COM 258278100 561 10,190 SH   OTR   0 10,190 0
DORMAN PRODUCTS INC COM 258278100 814 14,780 SH   SOLE   14,780 0 0
EAGLE BANCORP MONT INC COM 26942G100 112 6,982 SH   OTR   0 6,982 0
EAGLE BANCORP MONT INC COM 26942G100 276 17,198 SH   SOLE   17,198 0 0
EASTERN CO COM 276317104 2,147 115,738 SH   OTR   0 115,738 0
EASTERN CO COM 276317104 4,054 218,558 SH   SOLE   218,558 0 0
EMCLAIRE FINANCIAL CORP COM 290828102 228 10,363 SH   OTR   0 10,363 0
EMCLAIRE FINANCIAL CORP COM 290828102 56 2,535 SH   SOLE   2,535 0 0
ENTERCOM COMMUNICATIONS COM 293639100 214 125,020 SH   OTR   0 125,020 0
ENTERCOM COMMUNICATIONS COM 293639100 627 366,902 SH   SOLE   366,902 0 0
ESCALADE INC COM 296056104 1,088 187,833 SH   OTR   0 187,833 0
ESCALADE INC COM 296056104 1,521 262,631 SH   SOLE   262,631 0 0
FIRST MERCHANTS CORP COM 320817109 129 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109 188 7,085 SH   SOLE   7,085 0 0
FIVE STAR SENIOR LIVING INC COM 33832D106 74 26,515 SH   OTR   0 26,515 0
FIVE STAR SENIOR LIVING INC COM 33832D106 294 105,854 SH   SOLE   105,854 0 0
FLOTEK INDUSTRIES INC DEL COM 343389102 34 38,654 SH   OTR   0 38,654 0
FLOTEK INDUSTRIES INC DEL COM 343389102 113 127,500 SH   SOLE   127,500 0 0
FNB CORP COM 302520101 140 19,013 SH   OTR   0 19,013 0
FNB CORP COM 302520101 547 74,170 SH   SOLE   74,170 0 0
FOSTER L B CO COM 350060109 780 63,584 SH   OTR   0 63,584 0
FOSTER L B CO COM 350060109 276 22,489 SH   SOLE   22,489 0 0
FREIGHTCAR AMERICA INC COM 357023100 64 68,303 SH   OTR   0 68,303 0
FREIGHTCAR AMERICA INC COM 357023100 225 241,845 SH   SOLE   241,845 0 0
FSB BANCORP INC COM 30289C102 18 1,306 SH   OTR   0 1,306 0
FSB BANCORP INC COM 30289C102 134 9,734 SH   SOLE   9,734 0 0
GP STRATEGIES CORP COM 36225V104 265 40,734 SH   OTR   0 40,734 0
GP STRATEGIES CORP COM 36225V104 624 95,902 SH   SOLE   95,902 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 2,889 349,336 SH   OTR   0 349,336 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 5,744 694,533 SH   SOLE   694,533 0 0
GSE SYSTEMS INC COM 36227K106 53 56,332 SH   OTR   0 56,332 0
GSE SYSTEMS INC COM 36227K106 220 236,204 SH   SOLE   236,204 0 0
HORIZON BANCORP INDIANA COM 440407104 101 10,264 SH   OTR   0 10,264 0
HORIZON BANCORP INDIANA COM 440407104 325 32,986 SH   SOLE   32,986 0 0
HV BANCORP INC COM 40441H105 309 25,890 SH   SOLE   25,890 0 0
ICC HOLDINGS INC COM 44931Q104 128 11,632 SH   OTR   0 11,632 0
ICC HOLDINGS INC COM 44931Q104 220 20,010 SH   SOLE   20,010 0 0
IMMUCELL CORP COM 452525306 21 5,500 SH   OTR   0 5,500 0
IMMUCELL CORP COM 452525306 34 9,059 SH   SOLE   9,059 0 0
INFORMATION SVCS GROUP COM 45675Y104 9 3,650 SH   OTR   0 3,650 0
INFORMATION SVCS GROUP COM 45675Y104 19 7,400 SH   SOLE   7,400 0 0
INFUSYSTEM HLDGS INC COM 45685K102 5,312 625,678 SH   OTR   0 625,678 0
INFUSYSTEM HLDGS INC COM 45685K102 10,225 1,204,385 SH   SOLE   1,204,385 0 0
INVESTORS BANCORP INC NEW COM 46146L101 197 24,711 SH   OTR   0 24,711 0
INVESTORS BANCORP INC NEW COM 46146L101 543 67,990 SH   SOLE   67,990 0 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 509 66,741 SH   SOLE   66,741 0 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 184 24,118 SH   OTR   0 24,118 0
KOSS CORP COM 500692108 22 27,774 SH   OTR   0 27,774 0
KOSS CORP COM 500692108 156 192,483 SH   SOLE   192,483 0 0
KURA ONCOLOGY INC COM 50127T109 285 28,812 SH   OTR   0 28,812 0
KURA ONCOLOGY INC COM 50127T109 463 46,779 SH   SOLE   46,779 0 0
LAKE SHORE BANCORP INC COM 510700107 86 8,238 SH   OTR   0 8,238 0
LAKE SHORE BANCORP INC COM 510700107 213 20,269 SH   SOLE   20,269 0 0
LGL GROUP INC COM 50186A108 77 8,598 SH   OTR   0 8,598 0
LGL GROUP INC COM 50186A108 71 8,000 SH   SOLE   8,000 0 0
MACKINAC FINANCIAL CORP COM 554571109 205 19,972 SH   SOLE   19,972 0 0
MACKINAC FINANCIAL CORP COM 554571109 89 8,716 SH   OTR   0 8,716 0
MALVERN BANCORP INC COM 561409103 549 44,781 SH   SOLE   44,781 0 0
MID PENN BANCORP COM 59540G107 291 15,038 SH   OTR   0 15,038 0
MID PENN BANCORP COM 59540G107 604 31,240 SH   SOLE   31,240 0 0
MID SOUTHERN BANCORP COM 59548Q107 107 8,915 SH   OTR   0 8,915 0
MID SOUTHERN BANCORP COM 59548Q107 153 12,791 SH   SOLE   12,791 0 0
MUTUALFIRST FINANCIAL INC COM 62845B104 481 17,306 SH   OTR   0 17,306 0
MUTUALFIRST FINANCIAL INC COM 62845B104 157 5,666 SH   SOLE   5,666 0 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 517 115,997 SH   OTR   0 115,997 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 1,141 255,912 SH   SOLE   255,912 0 0
NI HOLDINGS INC COM 65342T106 627 46,628 SH   OTR   0 46,628 0
NI HOLDINGS INC COM 65342T106 1,349 100,400 SH   SOLE   100,400 0 0
NORTHWEST BANCSHARES INC MD COM 667340103 356 30,826 SH   OTR   0 30,826 0
NORTHWEST BANCSHARES INC MD COM 667340103 331 28,625 SH   SOLE   28,625 0 0
NORWOOD FINANCIAL CORP COM 669549107 164 6,190 SH   OTR   0 6,190 0
NORWOOD FINANCIAL CORP COM 669549107 238 8,952 SH   SOLE   8,952 0 0
NUVERRA ENVIRONMENTAL COM 67091K302 10 7,258 SH   OTR   0 7,258 0
NUVERRA ENVIRONMENTAL COM 67091K302 18 12,997 SH   SOLE   12,997 0 0
OCONEE FED FINL CORP COM 675607105 135 7,845 SH   OTR   0 7,845 0
OCONEE FED FINL CORP COM 675607105 197 11,451 SH   SOLE   11,451 0 0
PATHFINDER BANCORP INC COM 70319R109 682 67,423 SH   OTR   0 67,423 0
PATHFINDER BANCORP INC COM 70319R109 1,851 183,041 SH   SOLE   183,041 0 0
PATRIOT TRANSPORTATION HOLDING INC COM 70338W105 578 64,161 SH   OTR   0 64,161 0
PATRIOT TRANSPORTATION HOLDING INC COM 70338W105 1,866 207,104 SH   SOLE   207,104 0 0
PB BANCORP INC COM 70454T100 114 7,686 SH   OTR   0 7,686 0
PB BANCORP INC COM 70454T100 322 21,722 SH   SOLE   21,722 0 0
PROASSURANCE CORP COM 74267C106 394 15,763 SH   OTR   0 15,763 0
PROASSURANCE CORP COM 74267C106 218 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL BANCORP COM 76525P100 306 30,000 SH   SOLE   30,000 0 0
RIVERVIEW FINANCIAL CORP COM 76940Q105 107 18,823 SH   OTR   0 18,823 0
RIVERVIEW FINANCIAL CORP COM 76940Q105 232 40,692 SH   SOLE   40,692 0 0
SAEXPLORATION HOLDINGS INC COM PAR 78636X873 27 26,568 SH   OTR   0 26,568 0
SAGA COMMUNICATIONS INC CL A NEW 786598300 924 35,175 SH   OTR   0 35,175 0
SAGA COMMUNICATIONS INC CL A NEW 786598300 2,921 111,226 SH   SOLE   111,226 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 1,530 204,299 SH   OTR   0 204,299 0
SCRIPPS E W CO OHIO CL A NEW 811054402 2,849 380,382 SH   SOLE   380,382 0 0
SIFCO INDUSTRIES INC COM 826546103 90 40,110 SH   OTR   0 40,110 0
SIFCO INDUSTRIES INC COM 826546103 341 151,746 SH   SOLE   151,746 0 0
STARRETT L S CO CL A 855668109 56 17,437 SH   OTR   0 17,437 0
STARRETT L S CO CL A 855668109 151 46,587 SH   SOLE   46,587 0 0
SUNLINK HEALTH SYSTEMS INC COM 86737U102 32 46,733 SH   SOLE   46,733 0 0
SUPPORT.COM INC COM NEW 86858W200 40 36,822 SH   SOLE   36,822 0 0
SYNALLOY CP DEL COM 871565107 175 20,271 SH   OTR   0 20,271 0
SYNALLOY CP DEL COM 871565107 373 43,250 SH   SOLE   43,250 0 0
TRANSCAT INC COM 893529107 2,953 111,467 SH   OTR   0 111,467 0
TRANSCAT INC COM 893529107 5,872 221,660 SH   SOLE   221,660 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 1,068 138,466 SH   OTR   0 138,466 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 2,289 296,892 SH   SOLE   296,892 0 0
US LIME & MINERAL COM 911922102 3,843 53,781 SH   OTR   0 53,781 0
US LIME & MINERAL COM 911922102 5,684 79,547 SH   SOLE   79,547 0 0
VERSO CORP CL A 92531L207 272 24,100 SH   OTR   0 24,100 0
VERSO CORP CL A 92531L207 499 44,200 SH   SOLE   44,200 0 0
VILLAGE BANK & TRUST FIN CO COM NEW 92705T200 545 21,547 SH   SOLE   21,547 0 0
VILLAGE BANK & TRUST FIN CO COM NEW 92705T200 43 1,698 SH   OTR   0 1,698 0
VIRCO MANUFACTURING CO COM 927651109 623 296,521 SH   OTR   0 296,521 0
VIRCO MANUFACTURING CO COM 927651109 1,348 641,889 SH   SOLE   641,889 0 0
VOLT INFORMATION SCIENCES COM 928703107 32 39,607 SH   OTR   0 39,607 0
VOLT INFORMATION SCIENCES COM 928703107 74 91,682 SH   SOLE   91,682 0 0