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
AMBAC FINANCIAL GROUP INC COM NEW 023139884 200 11,967 SH   DFND 1 11,967 0 0
AMERISERV FINANCIAL INC COM 03074A102 4,038 994,580 SH   DFND 2 994,580 0 0
ARMSTRONG FLOORING INC COM 04238R106 1,055 215,771 SH   DFND 2 215,771 0 0
BANK OF AMERICA CORP COM 060505104 1,548 40,000 SH   DFND 1 40,000 0 0
BANK OF AMERICA CORP COM 060505104 2,418 62,500 SH   DFND 2 62,500 0 0
BLUELINX HOLDINGS INC COM NEW 09624H208 17,381 443,504 SH   DFND 1 443,504 0 0
BLUE RIDGE BANKSHARES INC COM 095825105 5,288 241,006 SH   DFND 2 241,006 0 0
CAMPING WORLD HOLDINGS INC-A COM 13462K109 15,083 414,588 SH   DFND 1 414,588 0 0
CITIGROUP INC COM NO PAR 172967424 15,394 211,600 SH   DFND 1 211,600 0 0
CITIGROUP INC COM NO PAR 172967424 3,754 51,600 SH   DFND 2 51,600 0 0
CITIZENS COMMUNITY BANCORP I COM 174903104 542 43,654 SH   DFND 1 43,654 0 0
CITIZENS COMMUNITY BANCORP I COM 174903104 2,909 234,426 SH   DFND 2 234,426 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 433 18,862 SH   DFND 2 18,862 0 0
CLEVELAND-CLIFFS INC COM 185899101 70,385 3,500,000 SH   DFND 1 3,500,000 0 0
COLONY BANKCORP COM 19623P101 1,581 101,322 SH   DFND 2 101,322 0 0
CONSOL ENERGY INC COM 20854L108 5,115 526,192 SH   DFND 1 526,192 0 0
Alpha Metallurgical Resources COM 020764106 11,291 893,966 SH   DFND 1 893,966 0 0
CORE MOLDING TECHNOLOGIES IN COM 218683100 3,668 312,808 SH   DFND 1 312,808 0 0
COUNTY BANCORP INC COM 221907108 218 9,087 SH   DFND 2 9,087 0 0
DANIMER SCIENTIFIC INC CIN 236272100 755 20,000 SH   DFND 1 20,000 0 0
DIXIE GROUP INC CL A 255519100 4,121 1,387,547 SH   DFND 1 1,387,547 0 0
E2OPEN PARENT HOLDINGS INC COM 29788T103 996 100,000 SH   DFND 2 100,000 0 0
EMCLAIRE FINANCIAL CORP COM 290828102 387 14,051 SH   DFND 2 14,051 0 0
ESSA BANCORP INC COM 29667D104 3,471 216,946 SH   DFND 2 216,946 0 0
FIRST BANK/HAMILTON NJ COM 31931U102 1,822 149,702 SH   DFND 2 149,702 0 0
FIRST UNITED CORP COM 33741H107 2,761 156,691 SH   DFND 2 156,691 0 0
FIRST US BANCSHARES INC COM 33744V103 2,552 274,419 SH   DFND 2 274,419 0 0
HAWTHORN BANCSHARES INC COM 420476103 1,495 70,208 SH   DFND 2 70,208 0 0
HC2 HOLDINGS INC COM 404139107 3,379 857,645 SH   DFND 1 857,645 0 0
HC2 HOLDINGS INC COM 404139107 9,072 2,302,500 SH   DFND 2 2,302,500 0 0
HMN FINANCIAL INC COM 40424G108 6,330 314,748 SH   DFND 2 314,748 0 0
IES HOLDINGS INC COM 44951W106 207,030 4,106,923 SH   DFND   4,106,923 0 0
IES HOLDINGS INC COM 44951W106 85,515 1,696,393 SH   DFND 1 1,696,393 0 0
IES HOLDINGS INC COM 44951W106 284,450 5,642,723 SH   DFND 3 5,642,723 0 0
IF BANCORP INC COM 44951J105 155 7,201 SH   DFND 1 7,201 0 0
IF BANCORP INC COM 44951J105 5,261 244,478 SH   DFND 2 244,478 0 0
JAWS ACQUISITION CORP-CL A COM G50744104 3,083 232,696 SH   DFND 1 232,696 0 0
JPMORGAN CHASE & CO COM 46625H100 7,612 50,000 SH   DFND 1 50,000 0 0
LCI INDUSTRIES COM 50189K103 6,582 49,761 SH   DFND 1 49,761 0 0
LSB INDUSTRIES INC COM 502160104 1,115 217,381 SH   DFND 2 217,381 0 0
MACKINAC FINANCIAL CORP COM 554571109 2,573 183,498 SH   DFND 2 183,498 0 0
MID PENN BANCORP INC COM 59540G107 2,399 89,466 SH   DFND 2 89,466 0 0
NESCO HOLDINGS INC COM 64083J104 94 10,000 SH   DFND 2 10,000 0 0
PATRICK INDUSTRIES INC COM 703343103 10,730 126,235 SH   DFND   126,235 0 0
PATRICK INDUSTRIES INC COM 703343103 723 8,502 SH   DFND 1 8,502 0 0
PEOPLES BANCORP OF NC COM 710577107 5,625 237,934 SH   DFND 2 237,934 0 0
PREMIER FINANCIAL BANCORP COM 74050M105 1,750 94,163 SH   DFND 2 94,163 0 0
REPUBLIC BANCORP INC-CLASS A CL A 760281204 7,585 171,267 SH   DFND 2 171,267 0 0
RIVERVIEW FINANCIAL CORP COM 76940Q105 2,577 246,587 SH   DFND 2 246,587 0 0
SB FINANCIAL GROUP INC COM 78408D105 567 31,045 SH   DFND 2 31,045 0 0
SEELOS THERAPEUTICS INC COM 81577F109 4,094 820,448 SH   DFND 1 820,448 0 0
SEELOS THERAPEUTICS INC COM 81577F109 2,020 404,796 SH   DFND 2 404,796 0 0
SEVERN BANCORP INC/MD COM 81811M100 4,103 339,116 SH   DFND 2 339,116 0 0
SHORE BANCSHARES INC COM 825107105 2,955 173,612 SH   DFND 2 173,612 0 0
SUNCOKE ENERGY INC COM 86722A103 8,490 1,211,172 SH   DFND 1 1,211,172 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 508 19,140 SH   DFND 2 19,140 0 0
UNITED BANCSHARES INC/OHIO COM 909458101 7,510 297,435 SH   DFND 2 297,435 0 0
VIACOMCBS INC - CLASS B COM 92556H206 3,834 85,000 SH   DFND 1 85,000 0 0
VIACOMCBS INC - CLASS B COM 92556H206 3,834 85,000 SH   DFND 2 85,000 0 0
WVS FINANCIAL CORP COM 929358109 2,053 129,936 SH   DFND 2 129,936 0 0
AVADEL PHARMACEUTICALS-ADR SPONSORED ADR 05337M104 13,864 1,533,663 SH   DFND 1 1,533,663 0 0
AVADEL PHARMACEUTICALS-ADR SPONSORED ADR 05337M104 3,618 400,174 SH   DFND 2 400,174 0 0
ISHARES RUSSELL 2000 ETF COM 464287655 16,571 75,000 SH   DFND 1 75,000 0 0
ISHARES RUSSELL 2000 ETF COM 464287655 27,618 125,000 SH   DFND 2 125,000 0 0
SPDR S&P REGIONAL BANKING COM 78464A698 995 15,000 SH   DFND 1 15,000 0 0
SPDR S&P REGIONAL BANKING COM 78464A698 700 10,550 SH   DFND 2 10,550 0 0