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 FINANC INC COM 03074A102 61,540 17,000 SH OTR 0 17,000 0
AMERISERV FINANC INC COM 03074A102 149,144 41,200 SH SOLE 41,200 0 0
ASTRONICS CORP COM 046433108 3,195,500 47,887 SH OTR 0 47,887 0
ASTRONICS CORP COM 046433108 1,498,289 22,453 SH SOLE 22,453 0 0
CAMDEN NATIONAL CORP COM 133034108 1,735,152 36,568 SH OTR 0 36,568 0
CAMDEN NATIONAL CORP COM 133034108 2,514,850 53,000 SH SOLE 53,000 0 0
CENTRAL PLAINS BANCSHARES INC COM 15486W100 497,901 29,100 SH OTR 0 29,100 0
CENTRAL PLAINS BANCSHARES INC COM 15486W100 342,491 20,017 SH SOLE 20,017 0 0
CITIZENS & NORTHERN CORP COM 172922106 366,376 16,400 SH OTR 0 16,400 0
CITIZENS & NORTHERN CORP COM 172922106 592,010 26,500 SH SOLE 26,500 0 0
CITIZENS FINL GROUP INC COM 174610105 273,223 4,556 SH OTR 0 4,556 0
CITIZENS FINL GROUP INC COM 174610105 1,015,232 16,929 SH SOLE 16,929 0 0
COLUMBIA FINANCIAL COM 197641103 591,733 33,794 SH SOLE 33,794 0 0
CONTANGO ORE INC COM 21077F100 227,981 12,159 SH OTR 0 12,159 0
CONTANGO ORE INC COM 21077F100 890,400 47,488 SH SOLE 47,488 0 0
CRAWFORD & CO CL B CL B 224633107 1,025,174 101,102 SH OTR 0 101,102 0
CRAWFORD & CO CL B CL B 224633107 1,896,951 187,076 SH SOLE 187,076 0 0
DELUXE CORP COM 248019101 382,806 13,900 SH OTR 0 13,900 0
DLH HOLDINGS CORP COM 23335Q100 2,546,849 437,603 SH OTR 0 437,603 0
DLH HOLDINGS CORP COM 23335Q100 3,931,026 675,434 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 392,993 22,875 SH OTR 0 22,875 0
DONEGAL GROUP INC CL A 257701201 405,706 23,615 SH SOLE 23,615 0 0
ECB BANCORP INC COM 26828M106 408,329 24,407 SH OTR 0 24,407 0
ECB BANCORP INC COM 26828M106 427,167 25,533 SH SOLE 25,533 0 0
EAGLE BANCORP MONT INC COM 26942G100 80,262 3,900 SH OTR 0 3,900 0
EAGLE BANCORP MONT INC COM 26942G100 353,935 17,198 SH SOLE 17,198 0 0
EASTERN BANKSHARES INC COM 27627N105 483,367 24,712 SH SOLE 24,712 0 0
EASTERN BANKSHARES INC COM 27627N105 740,620 37,864 SH OTR 0 37,864 0
EASTERN CO COM 276317104 4,001,387 197,697 SH OTR 0 197,697 0
EASTERN CO COM 276317104 7,057,789 348,705 SH SOLE 348,705 0 0
ESCALADE INC COM 296056104 3,014,949 175,594 SH OTR 0 175,594 0
ESCALADE INC COM 296056104 6,731,104 392,027 SH SOLE 392,027 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 64,400 4,025 SH OTR 0 4,025 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 593,888 37,118 SH SOLE 37,118 0 0
FIRST COMMONWEALTH FINANCIAL COM 319829107 97,745 5,560 SH OTR 0 5,560 0
FIRST COMMONWEALTH FINANCIAL COM 319829107 351,600 20,000 SH SOLE 20,000 0 0
FIRST MERCHANTS CORP COM 320817109 376,456 9,720 SH OTR 0 9,720 0
FIRST MERCHANTS CORP COM 320817109 539,974 13,942 SH SOLE 13,942 0 0
FMC CORP COM NEW 302491303 516,600 30,000 SH SOLE 30,000 0 0
FMC CORP COM 302491303 309,960 18,000 SH OTR 0 18,000 0
FNB CORP COM 302520101 195,457 11,690 SH OTR 0 11,690 0
FNB CORP COM 302520101 875,877 52,385 SH SOLE 52,385 0 0
FOSTER L B CO COM 350060109 1,062,320 38,076 SH OTR 0 38,076 0
FOSTER L B CO COM 350060109 1,280,303 45,889 SH SOLE 45,889 0 0
FREIGHTCAR AMERICA INC COM 357023100 871,798 109,385 SH OTR 0 109,385 0
FREIGHTCAR AMERICA INC COM 357023100 1,846,155 231,638 SH SOLE 231,638 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 3,977,388 233,964 SH OTR 0 233,964 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 13,527,563 795,739 SH SOLE 795,739 0 0
HORIZON BANCORP INDIANA COM 440407104 116,856 7,052 SH OTR 0 7,052 0
HORIZON BANCORP INDIANA COM 440407104 463,960 28,000 SH SOLE 28,000 0 0
INFUSYSTEM HLDGS INC COM 45685K102 3,390,502 367,335 SH OTR 0 367,335 0
INFUSYSTEM HLDGS INC COM 45685K102 7,723,387 836,770 SH SOLE 836,770 0 0
KELLY SERVICES INC CL A 488152208 775,685 87,648 SH OTR 0 87,648 0
KELLY SERVICES INC CL A 488152208 992,510 112,148 SH SOLE 112,148 0 0
KEWAUNEE SCIENTIFIC CP COM 492854104 1,434,302 41,853 SH OTR 0 41,853 0
KEWAUNEE SCIENTIFIC CP COM 492854104 3,250,578 94,852 SH SOLE 94,852 0 0
LAKE SHORE BANCORP INC COM 510704109 213,871 14,089 SH OTR 0 14,089 0
LAKE SHORE BANCORP INC COM 510704109 457,981 30,170 SH SOLE 30,170 0 0
MARATHON BANCORP INC COM NEW 565759206 740,335 54,718 SH SOLE 54,718 0 0
MARATHON BANCORP INC COM NEW 565759206 57,611 4,258 SH OTR 0 4,258 0
MID PENN BANCORP COM 59540G107 423,997 13,184 SH OTR 0 13,184 0
MID PENN BANCORP COM 59540G107 1,318,335 40,993 SH SOLE 40,993 0 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 1,357,875 70,247 SH OTR 0 70,247 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 4,367,903 225,965 SH SOLE 225,965 0 0
NI HOLDINGS INC COM 65342T106 380,255 29,500 SH OTR 0 29,500 0
NI HOLDINGS INC COM 65342T106 1,294,156 100,400 SH SOLE 100,400 0 0
NORTHWEST BANCSHARES INC COM 667340103 482,220 38,000 SH SOLE 38,000 0 0
NORWOOD FINANCIAL CORP COM 669549107 344,626 11,714 SH OTR 0 11,714 0
NORWOOD FINANCIAL CORP COM 669549107 496,198 16,866 SH SOLE 16,866 0 0
PATHFINDER BANCORP INC COM 70319R109 655,379 51,362 SH OTR 0 51,362 0
PATHFINDER BANCORP INC COM 70319R109 2,690,344 210,842 SH SOLE 210,842 0 0
PROASSURANCE CORP COM 74267C106 210,960 8,534 SH OTR 0 8,534 0
PROASSURANCE CORP COM 74267C106 215,064 8,700 SH SOLE 8,700 0 0
RICHMOND MUTUAL COM 76525P100 410,140 30,224 SH SOLE 30,224 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 2,066,229 555,438 SH OTR 0 555,438 0
SCRIPPS E W CO OHIO CL A NEW 811054402 3,612,313 971,052 SH SOLE 971,052 0 0
SIFCO INDUSTRIES INC COM 826546103 1,527,123 114,735 SH OTR 0 114,735 0
SIFCO INDUSTRIES INC COM 826546103 4,870,329 365,915 SH SOLE 365,915 0 0
THRYV HOLDINGS IINC COM NEW 886029206 72,141 26,329 SH SOLE 0 26,329 0
THRYV HOLDINGS IINC COM NEW 886029206 323,320 118,000 SH SOLE 118,000 0 0
TREDEGAR CORP COM 894650100 5,607,167 705,304 SH OTR 0 705,304 0
TREDEGAR CORP COM 894650100 7,634,409 960,303 SH SOLE 960,303 0 0
UNIFI INC COM NEW 904677200 1,890,319 529,501 SH OTR 0 529,501 0
UNIFI INC COM NEW 904677200 2,602,976 729,125 SH SOLE 729,125 0 0
UNISYS CORP COM NEW 909214306 397,744 192,147 SH OTR 0 192,147 0
UNISYS CORP COM NEW 909214306 317,124 153,200 SH SOLE 153,200 0 0
UTAH MEDICAL PRODUCTS INC COM 917488108 2,025,275 32,671 SH OTR 0 32,671 0
UTAH MEDICAL PRODUCTS INC COM 917488108 3,777,919 60,944 SH SOLE 60,944 0 0
VIRCO MANUFACTURING CO COM 927651109 3,441,857 562,395 SH OTR 0 562,395 0
VIRCO MANUFACTURING CO COM 927651109 5,844,949 955,057 SH SOLE 955,057 0 0