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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERISERV FINANC INC COM 03074A102   51,850 17,000 SH   OTR   0 17,000 0
AMERISERV FINANC INC COM 03074A102   125,660 41,200 SH   SOLE   41,200 0 0
ASCENT INDUSTRIES COM 871565107   113,053 12,369 SH   OTR   0 12,369 0
ASCENT INDUSTRIES COM 871565107   438,720 48,000 SH   SOLE   48,000 0 0
ASTRONICS CORP COM 046433108   1,396,552 104,925 SH   OTR   0 104,925 0
ASTRONICS CORP COM 046433108   4,767,376 358,180 SH   SOLE   358,180 0 0
CAMDEN NATIONAL CORP COM 133034108   1,320,470 36,568 SH   OTR   0 36,568 0
CAMDEN NATIONAL CORP COM 133034108   1,913,830 53,000 SH   SOLE   53,000 0 0
CECO ENVIRONMENTAL CORP COM 125141101   430,304 30,758 SH   OTR   0 30,758 0
CECO ENVIRONMENTAL CORP COM 125141101   1,353,533 96,750 SH   SOLE   96,750 0 0
CHASE CORP COM 16150R104   3,604,807 34,420 SH   OTR   0 34,420 0
CHASE CORP COM 16150R104   8,989,290 85,833 SH   SOLE   85,833 0 0
CITIZENS & NORTHERN CORP COM 172922106   349,156 16,400 SH   OTR   0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106   564,185 26,500 SH   SOLE   26,500 0 0
CITIZENS FINL GROUP INC COM 174610105   202,076 6,656 SH   OTR   0 6,656 0
CITIZENS FINL GROUP INC COM 174610105   513,964 16,929 SH   SOLE   16,929 0 0
COLUMBIA FINANCIAL COM 197641103   617,754 33,794 SH   SOLE   33,794 0 0
COMMUNITY BANK SYS INC COM 203607106   346,717 6,618 SH   OTR   0 6,618 0
COMPUTER TASK GROUP INC COM 205477102   1,830,393 252,468 SH   OTR   0 252,468 0
COMPUTER TASK GROUP INC COM 205477102   7,278,123 1,003,879 SH   SOLE   1,003,879 0 0
COMPX INTERNATIONAL COM 20563P101   128,314 7,097 SH   OTR   0 7,097 0
COMPX INTERNATIONAL COM 20563P101   375,160 20,750 SH   SOLE   20,750 0 0
CONTANGO ORE INC COM 21077F100   433,202 15,400 SH   OTR   0 15,400 0
CONTANGO ORE INC COM 21077F100   2,304,719 81,931 SH   SOLE   81,931 0 0
CRAWFORD & CO CL B COM 224633107   266,417 34,735 SH   OTR   0 34,735 0
CRAWFORD & CO CL B COM 224633107   748,638 97,606 SH   SOLE   97,606 0 0
DALLASNEWS CORPORATION COM 235050101   40,246 9,252 SH   OTR   0 9,252 0
DALLASNEWS CORPORATION COM 235050101   88,562 20,359 SH   SOLE   20,359 0 0
DELTA APPAREL INC COM 247368103   58,300 5,300 SH   OTR   0 5,300 0
DELTA APPAREL INC COM 247368103   154,583 14,053 SH   SOLE   14,053 0 0
DELUXE CORP COM 248019101   222,400 13,900 SH   OTR   0 13,900 0
DLH HOLDINGS CORP COM 23335Q100   613,816 54,854 SH   OTR   0 54,854 0
DLH HOLDINGS CORP COM 23335Q100   3,222,541 287,984 SH   SOLE   287,984 0 0
DONEGAL GROUP INC CL B 257701300   67,680 4,500 SH   OTR   0 4,500 0
DONEGAL GROUP INC CL B 257701300   200,874 13,356 SH   SOLE   13,356 0 0
DONEGAL GROUP INC CL A 257701201   349,073 22,875 SH   OTR   0 22,875 0
DONEGAL GROUP INC CL A 257701201   360,365 23,615 SH   SOLE   23,615 0 0
DORMAN PRODUCTS INC COM 258278100   740,458 8,590 SH   OTR   0 8,590 0
DORMAN PRODUCTS INC COM 258278100   732,700 8,500 SH   SOLE   8,500 0 0
EAGLE BANCORP MONT INC COM 26942G100   54,210 3,900 SH   OTR   0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100   239,052 17,198 SH   SOLE   17,198 0 0
EASTERN CO COM 276317104   1,805,245 94,466 SH   OTR   0 94,466 0
EASTERN CO COM 276317104   6,014,108 314,710 SH   SOLE   314,710 0 0
ESCALADE INC COM 296056104   2,461,014 170,077 SH   OTR   0 170,077 0
ESCALADE INC COM 296056104   5,548,435 383,444 SH   SOLE   383,444 0 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   78,991 6,360 SH   OTR   0 6,360 0
FIRST COMMONWEALTH FINANCIAL COM 319829107   273,240 22,000 SH   SOLE   22,000 0 0
FIRST MERCHANTS CORP COM 320817109   160,534 4,875 SH   OTR   0 4,875 0
FIRST MERCHANTS CORP COM 320817109   164,650 5,000 SH   SOLE   5,000 0 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   91,713 5,700 SH   OTR   0 5,700 0
FIRST SAVINGS FINANCIAL GP INC COM 33621E109   169,283 10,521 SH   SOLE   10,521 0 0
FNB CORP COM 302520101   135,604 11,690 SH   OTR   0 11,690 0
FNB CORP COM 302520101   672,800 58,000 SH   SOLE   58,000 0 0
FOSTER L B CO COM 350060109   425,511 37,424 SH   OTR   0 37,424 0
FOSTER L B CO COM 350060109   481,792 42,374 SH   SOLE   42,374 0 0
FREIGHTCAR AMERICA INC COM 357023100   684,120 220,684 SH   OTR   0 220,684 0
FREIGHTCAR AMERICA INC COM 357023100   1,815,757 585,728 SH   SOLE   585,728 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   1,489,027 275,236 SH   OTR   0 275,236 0
GREAT LAKES DREDGE & DOCK CO COM 390607109   5,047,865 933,062 SH   SOLE   933,062 0 0
GSE SYSTEMS INC COM 36227K106   120,262 173,039 SH   OTR   0 173,039 0
GSE SYSTEMS INC COM 36227K106   421,529 606,516 SH   SOLE   606,516 0 0
HORIZON BANCORP INDIANA COM 440407104   77,854 7,052 SH   OTR   0 7,052 0
HORIZON BANCORP INDIANA COM 440407104   309,120 28,000 SH   SOLE   28,000 0 0
HV BANCORP COM 40441H105   777,477 25,890 SH   SOLE   25,890 0 0
ICC HOLDINGS INC COM 44931Q104   130,501 8,414 SH   OTR   0 8,414 0
ICC HOLDINGS INC COM 44931Q104   387,021 24,953 SH   SOLE   24,953 0 0
IMMUCELL CORP COM 452525306   23,271 4,554 SH   SOLE   0 4,554 0
IMMUCELL CORP COM 452525306   37,834 7,404 SH   OTR   7,404 0 0
INFUSYSTEM HLDGS INC COM 45685K102   1,437,973 183,884 SH   OTR   0 183,884 0
INFUSYSTEM HLDGS INC COM 45685K102   5,184,402 662,967 SH   SOLE   662,967 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104   2,051,218 128,603 SH   SOLE   128,603 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104   678,921 44,316 SH   OTR   0 44,316 0
LAKE SHORE BANCORP INC COM 510700107   57,513 5,700 SH   OTR   0 5,700 0
LAKE SHORE BANCORP INC COM 510700107   168,700 14,000 SH   SOLE   14,000 0 0
LUMOS PHARMA INC COM 55028X109   44,712 13,549 SH   OTR   0 13,549 0
LUMOS PHARMA INC COM 55028X109   67,538 20,466 SH   SOLE   20,466 0 0
MALVERN BANCORP INC COM 561409103   724,800 48,000 SH   SOLE   48,000 0 0
MALVERN BANCORP INC COM 561409103   78,611 5,206 SH   OTR   0 5,206 0
MID PENN BANCORP COM 59540G107   319,327 12,503 SH   OTR   0 12,503 0
MID PENN BANCORP COM 59540G107   1,001,909 39,229 SH   SOLE   39,229 0 0
MID SOUTHERN BANCORP COM 59548Q107   101,274 8,915 SH   OTR   0 8,915 0
MID SOUTHERN BANCORP COM 59548Q107   145,306 12,791 SH   SOLE   12,791 0 0
NAVIGATOR HOLDINGS LTD COM Y62132108   1,104,469 78,947 SH   OTR   0 78,947 0
NAVIGATOR HOLDINGS LTD COM Y62132108   3,716,653 265,665 SH   SOLE   265,665 0 0
NEXTCURE INC COM 65343E108   17,612 11,900 SH   OTR   0 11,900 0
NEXTCURE INC COM 65343E108   29,323 19,813 SH   SOLE   19,813 0 0
NI HOLDINGS INC COM 65342T106   376,420 29,500 SH   OTR   0 29,500 0
NI HOLDINGS INC COM 65342T106   1,281,104 100,400 SH   SOLE   100,400 0 0
NORTHWEST BANCSHARES INC COM 667340103   457,140 38,000 SH   SOLE   38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107   138,796 4,729 SH   OTR   0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107   262,741 8,952 SH   SOLE   8,952 0 0
OCONEE FED FINL CORP COM 675607105   211,844 11,451 SH   SOLE   11,451 0 0
PATHFINDER BANCORP INC COM 70319R109   818,581 47,399 SH   OTR   0 47,399 0
PATHFINDER BANCORP INC COM 70319R109   3,527,398 204,250 SH   SOLE   204,250 0 0
PATRIOT TRANSPORTATION HOLDING COM 70338W105   354,101 44,541 SH   OTR   0 44,541 0
PATRIOT TRANSPORTATION HOLDING COM 70338W105   1,606,234 202,042 SH   SOLE   202,042 0 0
PC TEL INC COM 69325Q105   22,842 5,400 SH   OTR   0 5,400 0
PC TEL INC COM 69325Q105   58,556 13,843 SH   SOLE   13,843 0 0
PROASSURANCE CORP COM 74267C106   155,276 8,534 SH   OTR   0 8,534 0
PROASSURANCE CORP COM 74267C106   158,297 8,700 SH   SOLE   8,700 0 0
RICHMOND MUTUAL COM 76525P100   311,100 30,000 SH   SOLE   30,000 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   1,162,062 52,487 SH   OTR   0 52,487 0
SAGA COMMUNICATIONS INC CL A NEW 786598300   3,372,077 152,307 SH   SOLE   152,307 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402   1,170,999 124,707 SH   OTR   0 124,707 0
SCRIPPS E W CO OHIO CL A NEW 811054402   3,731,832 398,700 SH   SOLE   398,700 0 0
SIFCO INDUSTRIES INC COM 826546103   225,994 76,608 SH   OTR   0 76,608 0
SIFCO INDUSTRIES INC COM 826546103   911,845 309,100 SH   SOLE   309,100 0 0
SOUTH STATE CORP COM 840441109   403,233 5,661 SH   OTR   0 5,661 0
STARRETT LS COM 855668109   231,218 20,737 SH   OTR   0 20,737 0
STARRETT LS COM 855668109   585,375 52,500 SH   SOLE   52,500 0 0
THRYV HOLDINGS IINC COM 886029206   223,654 9,703 SH   SOLE   0 9,703 0
THRYV HOLDINGS IINC COM 886029206   922,000 40,000 SH   SOLE   40,000 0 0
TREDEGAR CORP COM 894650100   1,158,284 127,284 SH   OTR   0 127,284 0
TREDEGAR CORP COM 894650100   2,759,939 303,290 SH   SOLE   303,290 0 0
UNIFI INC COM 904677200   60,310 7,400 SH   OTR   0 7,400 0
UNIFI INC COM 904677200   154,328 18,936 SH   SOLE   18,936 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   1,431,557 155,604 SH   OTR   0 155,604 0
UNIVERSAL STAINLESS & ALLOY COM 913837100   5,361,972 582,823 SH   SOLE   582,823 0 0
US LIME & MINERAL COM 911922102   1,364,313 9,209 SH   OTR   0 9,209 0
US LIME & MINERAL COM 911922102   2,688,774 18,149 SH   SOLE   18,149 0 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   921,758 17,947 SH   SOLE   17,947 0 0
VILLAGE BANK & TRUST FIN CO COM 92705T200   92,345 1,798 SH   OTR   0 1,798 0
VIRCO MANUFACTURING CO COM 927651109   861,589 217,573 SH   OTR   0 217,573 0
VIRCO MANUFACTURING CO COM 927651109   2,817,017 711,368 SH   SOLE   711,368 0 0
WILLIAMS INDUSTRIAL SERVICES GROUP COM 96951A104   438,781 426,001 SH   OTR   0 426,001 0
WILLIAMS INDUSTRIAL SERVICES GROUP COM 96951A104   1,503,054 1,459,276 SH   SOLE   1,459,276 0 0