Q4 2025 Holdings
Filed 2026-01-29 | 24 holdings | $181.4M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Wheeler Real Estate Invt TR | 7% SR NT 31 | 963025804 | $70.8M | 883,221 | 39.0% |
| Kingsway Finl Svcs Inc(KFS) | COM NEW | 496904202 | $45.2M | 3,363,450 | 24.9% |
| Sound Finl Bancorp Inc(SFBC) | COM | 83607A100 | $17.9M | 410,019 | 9.9% |
| Lake Shore Bancorp Inc(LSBK) | COM | 510704109 | $11.3M | 773,675 | 6.3% |
| IF Bancorp Inc(IROQ) | COM | 44951J105 | $7.4M | 275,180 | 4.1% |
| Central Plains Bancshares in(CPBI) | COM | 15486W100 | $6.2M | 366,901 | 3.4% |
| Catalyst Bancorp Inc(CLST) | COMMON STOCK | 14888L101 | $4.0M | 254,697 | 2.2% |
| Wheeler Real Estate Invt TR | CV PFD SER B | 963025309 | $4.0M | 761,466 | 2.2% |
| FS Bancorp Inc(FSBW) | COM | 30263Y104 | $3.1M | 74,976 | 1.7% |
| Northeast Cmnty Bancorp Inc(NECB) | COM | 664121100 | $2.5M | 110,000 | 1.4% |
| BV Finl Inc(BVFL) | COM NEW | 05603E208 | $1.7M | 95,000 | 0.9% |
| Home FED Bancorp Inc LA New(HFBL) | COM | 43708L108 | $1.4M | 80,000 | 0.8% |
| NB Bancorp Inc(NBBK) | COM | 63945M107 | $1.3M | 65,000 | 0.7% |
| Fifth Dist Bancorp Inc(FDSB) | COM | 316926104 | $1.2M | 80,000 | 0.7% |
| Magyar Bancorp Inc(MGYR) | COM | 55977T208 | $691.2K | 40,000 | 0.4% |
| Avidia Bancorp Inc(AVBC) | COMMON STOCK | 05369T100 | $672.4K | 40,000 | 0.4% |
| SR Bancorp Inc(SRBK) | COM | 85227J106 | $629.6K | 40,000 | 0.3% |
| ECB Bancorp Inc(ECBK) | COM | 26828M106 | $347.8K | 20,000 | 0.2% |
| Ponce Financial Group Inc(PDLB) | COMMON STOCK | 732344106 | $327.0K | 20,000 | 0.2% |
| FB Bancorp Inc(FBLA) | COM | 31425A109 | $257.0K | 20,000 | 0.1% |
| Marathon Bancorp Inc(MBBC) | COM NEW | 565759206 | $243.2K | 20,000 | 0.1% |
| Wheeler Real Estate Invt TR | COM NEW | 963025770 | $97.1K | 57,099 | 0.1% |
| Principal Financial Group in(PFG) | COM | 74251V102 | $48.3K | 547 | 0.0% |
| Metlife Inc(MET) | COM | 59156R108 | $4.7K | 60 | 0.0% |