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
Expires: July 31, 2015
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 FINL INC COM 03074A102 54,230 17,000 SH OTR 0 17,000 0
AMERISERV FINL INC COM 03074A102 131,428 41,200 SH SOLE 41,200 0 0
ASCENT INDUSTRIES CO COM 871565107 113,217 6,993 SH OTR 0 6,993 0
ASCENT INDUSTRIES CO COM 871565107 379,202 23,422 SH SOLE 23,422 0 0
ASTRONICS CORP COM 046433108 1,756,888 32,391 SH OTR 0 32,391 0
ASTRONICS CORP COM 046433108 3,788,827 69,853 SH SOLE 69,853 0 0
CAMDEN NATL CORP COM 133034108 1,586,320 36,568 SH OTR 0 36,568 0
CAMDEN NATL CORP COM 133034108 2,299,140 53,000 SH SOLE 53,000 0 0
CENTRAL PLAINS BANCSHARES IN COM 15486W100 492,372 29,100 SH OTR 0 29,100 0
CENTRAL PLAINS BANCSHARES IN COM 15486W100 338,688 20,017 SH SOLE 20,017 0 0
CITIZENS & NORTHN CORP COM 172922106 330,788 16,400 SH OTR 0 16,400 0
CITIZENS & NORTHN CORP COM 172922106 534,505 26,500 SH SOLE 26,500 0 0
CITIZENS FINL GROUP INC COM 174610105 266,116 4,556 SH OTR 0 4,556 0
CITIZENS FINL GROUP INC COM 174610105 988,823 16,929 SH SOLE 16,929 0 0
CITIZENS FINL SVCS INC COM 174615104 449,375 7,881 SH SOLE 7,881 0 0
COLUMBIA FINL INC COM 197641103 525,159 33,794 SH SOLE 33,794 0 0
COMMUNITY FINANCIAL SYSTEM I COM 203607106 380,138 6,618 SH OTR 0 6,618 0
CONTANGO ORE INC COM 21077F100 381,862 14,459 SH OTR 0 14,459 0
CONTANGO ORE INC COM 21077F100 1,629,180 61,688 SH SOLE 61,688 0 0
CRAWFORD & CO CL B 224633107 1,083,813 101,102 SH OTR 0 101,102 0
CRAWFORD & CO CL B 224633107 2,005,455 187,076 SH SOLE 187,076 0 0
DELUXE CORP COM 248019101 310,387 13,900 SH OTR 0 13,900 0
DLH HLDGS CORP COM 23335Q100 2,472,570 437,623 SH OTR 0 437,623 0
DLH HLDGS CORP COM 23335Q100 3,816,202 675,434 SH SOLE 675,434 0 0
DONEGAL GROUP INC CL B 257701300 79,605 4,500 SH OTR 0 4,500 0
DONEGAL GROUP INC CL B 257701300 236,268 13,356 SH SOLE 13,356 0 0
DONEGAL GROUP INC CL A 257701201 457,043 22,875 SH OTR 0 22,875 0
DONEGAL GROUP INC CL A 257701201 471,828 23,615 SH SOLE 23,615 0 0
DORMAN PRODS INC COM 258278100 1,058,202 8,590 SH OTR 0 8,590 0
EAGLE BANCORP MONT INC COM 26942G100 77,610 3,900 SH OTR 0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100 342,240 17,198 SH SOLE 17,198 0 0
EASTERN BANKSHARES INC COM 27627N105 455,442 24,712 SH SOLE 24,712 0 0
EASTERN BANKSHARES INC COM 27627N105 697,834 37,864 SH OTR 0 37,864 0
EASTERN CO COM 276317104 3,773,884 191,665 SH OTR 0 191,665 0
EASTERN CO COM 276317104 6,643,780 337,419 SH SOLE 337,419 0 0
ECB BANCORP INC COM 26828M106 424,438 24,407 SH OTR 0 24,407 0
ECB BANCORP INC COM 26828M106 444,019 25,533 SH SOLE 25,533 0 0
ESCALADE INC COM 296056104 2,368,763 175,594 SH OTR 0 175,594 0
ESCALADE INC COM 296056104 5,288,444 392,027 SH SOLE 392,027 0 0
F N B CORP COM 302520101 199,899 11,690 SH OTR 0 11,690 0
F N B CORP COM 302520101 895,784 52,385 SH SOLE 52,385 0 0
FIRST BK WILLIAMSTOWN NEW JE COM 31931U102 66,252 4,025 SH OTR 0 4,025 0
FIRST BK WILLIAMSTOWN NEW JE COM 31931U102 610,962 37,118 SH SOLE 37,118 0 0
FIRST COMWLTH FINL CORP PA COM 319829107 93,742 5,560 SH OTR 0 5,560 0
FIRST COMWLTH FINL CORP PA COM 319829107 337,200 20,000 SH SOLE 20,000 0 0
FIRST MERCHANTS CORP COM 320817109 182,715 4,875 SH OTR 0 4,875 0
FIRST MERCHANTS CORP COM 320817109 187,400 5,000 SH SOLE 5,000 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 181,602 5,700 SH OTR 0 5,700 0
FIRST SVGS FINL GROUP INC COM 33621E109 335,199 10,521 SH SOLE 10,521 0 0
FMC CORP COM NEW 302491303 416,100 30,000 SH SOLE 30,000 0 0
FMC CORP COM NEW 302491303 249,660 18,000 SH OTR 0 18,000 0
FOSTER L B CO COM 350060109 1,026,148 38,076 SH OTR 0 38,076 0
FOSTER L B CO COM 350060109 1,236,709 45,889 SH SOLE 45,889 0 0
FREIGHTCAR AMER INC COM 357023100 879,179 79,420 SH OTR 0 79,420 0
FREIGHTCAR AMER INC COM 357023100 2,077,020 187,626 SH SOLE 187,626 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 5,661,870 431,545 SH OTR 0 431,545 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 12,572,397 958,262 SH SOLE 958,262 0 0
HORIZON BANCORP INC COM 440407104 119,602 7,052 SH OTR 0 7,052 0
HORIZON BANCORP INC COM 440407104 474,880 28,000 SH SOLE 28,000 0 0
INFUSYSTEM HLDGS INC COM 45685K102 2,818,500 314,214 SH OTR 0 314,214 0
INFUSYSTEM HLDGS INC COM 45685K102 6,857,717 764,517 SH SOLE 764,517 0 0
KELLY SVCS INC CL A 488152208 234,080 26,600 SH OTR 0 26,600 0
KELLY SVCS INC CL A 488152208 279,840 31,800 SH SOLE 31,800 0 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 1,408,412 37,648 SH OTR 0 37,648 0
KEWAUNEE SCIENTIFIC CORP COM 492854104 3,150,483 84,215 SH SOLE 84,215 0 0
LAKE SHORE BANCORP INC COM 510704109 206,545 14,089 SH OTR 0 14,089 0
LAKE SHORE BANCORP INC COM 510704109 442,292 30,170 SH SOLE 30,170 0 0
MARATHON BANCORP INC COM NEW 565759206 665,371 54,718 SH SOLE 54,718 0 0
MARATHON BANCORP INC COM NEW 565759206 51,777 4,258 SH OTR 0 4,258 0
MID PENN BANCORP INC COM 59540G107 408,968 13,184 SH OTR 0 13,184 0
MID PENN BANCORP INC COM 59540G107 1,271,603 40,993 SH SOLE 40,993 0 0
NAVIGATOR HLDGS LTD SHS Y62132108 1,237,462 71,447 SH OTR 0 71,447 0
NAVIGATOR HLDGS LTD SHS Y62132108 3,979,530 229,765 SH SOLE 229,765 0 0
NI HLDGS INC COM 65342T106 392,350 29,500 SH OTR 0 29,500 0
NI HLDGS INC COM 65342T106 1,335,320 100,400 SH SOLE 100,400 0 0
NORTHWEST BANCSHARES INC MD COM 667340103 456,000 38,000 SH SOLE 38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107 132,648 4,729 SH OTR 0 4,729 0
NORWOOD FINANCIAL CORP COM 669549107 251,104 8,952 SH SOLE 8,952 0 0
PATHFINDER BANCORP INC MD COM 70319R109 724,718 51,362 SH OTR 0 51,362 0
PATHFINDER BANCORP INC MD COM 70319R109 2,974,981 210,842 SH SOLE 210,842 0 0
PB BANKSHARES INC COM 69318V103 203,886 9,640 SH OTR 0 9,640 0
PB BANKSHARES INC COM 69318V103 230,958 10,920 SH SOLE 10,920 0 0
PROASSURANCE CORP COM 74267C106 206,181 8,534 SH OTR 0 8,534 0
PROASSURANCE CORP COM 74267C106 210,192 8,700 SH SOLE 8,700 0 0
RICHMOND MUT BANCORPORATION COM 76525P100 424,345 30,224 SH SOLE 30,224 0 0
SAGA COMMUNICATIONS INC CL A NEW 786598300 364,465 31,831 SH OTR 0 31,831 0
SCRIPPS E W CO OHIO CL A NEW 811054402 1,994,473 499,868 SH OTR 0 499,868 0
SCRIPPS E W CO OHIO CL A NEW 811054402 3,535,347 886,052 SH SOLE 886,052 0 0
SIFCO INDS INC COM 826546103 644,127 115,435 SH OTR 0 115,435 0
SIFCO INDS INC COM 826546103 2,084,403 373,549 SH SOLE 373,549 0 0
SOUTHSTATE BK CORP COM 84472E102 532,757 5,661 SH OTR 0 5,661 0
THRYV HLDGS INC COM NEW 886029206 159,290 26,329 SH SOLE 0 26,329 0
THRYV HLDGS INC COM NEW 886029206 738,100 122,000 SH SOLE 122,000 0 0
TREDEGAR CORP COM 894650100 5,038,953 701,804 SH OTR 0 701,804 0
TREDEGAR CORP COM 894650100 6,859,076 955,303 SH SOLE 955,303 0 0
UNIFI INC COM NEW 904677200 1,816,427 518,979 SH OTR 0 518,979 0
UNIFI INC COM NEW 904677200 2,462,044 703,441 SH SOLE 703,441 0 0
UNISYS CORP COM NEW 909214306 530,326 192,147 SH OTR 0 192,147 0
UNISYS CORP COM NEW 909214306 422,832 153,200 SH SOLE 153,200 0 0
UNITED STS LIME & MINERALS I COM 911922102 748,375 6,250 SH OTR 0 6,250 0
UTAH MED PRODS INC COM 917488108 1,828,269 32,671 SH OTR 0 32,671 0
UTAH MED PRODS INC COM 917488108 3,410,426 60,944 SH SOLE 60,944 0 0
VIRCO MFG CO COM 927651109 3,401,173 532,265 SH OTR 0 532,265 0
VIRCO MFG CO COM 927651109 5,852,812 915,933 SH SOLE 915,933 0 0