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
AGNC INVT CORP COM 00123Q104 BBG000TJ8XZ7 591,420 58,383 SH   SOLE   58,383 0 0
ALLSTATE CORP COM 020002101 BBG000BVMGF2 710,832 6,519 SH   SOLE   6,519 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 BBG000DPKKK0 428,331 3,607 SH   SOLE   3,607 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 BBG000BBDZG3 980,309 17,037 SH   SOLE   17,037 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 BBG000BG8NR3 17,794,531 614,028 SH   SOLE   614,028 0 0
AMERIPRISE FINL INC COM 03076C106 BBG000G3QLY3 675,281 2,033 SH   SOLE   2,033 0 0
AMERIS BANCORP COM 03076K108 BBG000CDY3H5 8,263,665 241,557 SH   SOLE   241,557 0 0
ARCH CAP GROUP LTD ORD G0450A105 BBG000HXNN20 680,686 9,094 SH   SOLE   9,094 0 0
BAIN CAP SPECIALTY FIN INC COM STK 05684B107 BBG00JDV0M15 459,367 34,002 SH   SOLE   34,002 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 BBG00DK7NM27 293,655 10,733 SH   SOLE   10,733 0 0
BANNER CORP COM NEW 06652V208 BBG000MVZH28 5,663,824 129,696 SH   SOLE   129,696 0 0
BAYCOM CORP COM 07272M107 BBG00FWKRBS2 1,081,464 64,836 SH   SOLE   64,836 0 0
BLUE OWL CAPITAL INC COM CL A 09581B103 BBG00XV417R8 245,547 21,077 SH   SOLE   21,077 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 BBG000PPFKQ7 884,133 5,338 SH   SOLE   5,338 0 0
BROWN & BROWN INC COM 115236101 BBG000BWSGF4 677,041 9,835 SH   SOLE   9,835 0 0
CAMBRIDGE BANCORP COM 132152109 BBG000C2D195 10,801,553 198,887 SH   SOLE   198,887 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 BBG00CW88W83 6,272,829 511,233 SH   SOLE   511,233 0 0
CBOE GLOBAL MKTS INC COM 12503M108 BBG000QH56C1 1,049,704 7,606 SH   SOLE   7,606 0 0
CBRE GROUP INC CL A 12504L109 BBG000C04224 1,018,641 12,621 SH   SOLE   12,621 0 0
CENTURY CMNTYS INC COM 156504300 BBG006G412Q6 581,086 7,584 SH   SOLE   7,584 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 BBG000NFKDB7 8,421,702 951,594 SH   SOLE   951,594 0 0
CNB FINL CORP PA COM 126128107 BBG000BKPZC4 9,842,540 557,651 SH   SOLE   557,651 0 0
CODORUS VY BANCORP INC COM 192025104 BBG000BRYD38 17,996,097 917,700 SH   SOLE   917,700 0 0
COLUMBIA BKG SYS INC COM 197236102 BBG000CTGXS2 25,188,003 1,242,012 SH   SOLE   1,242,012 0 0
COMMUNITY WEST BANCSHARES COM 204157101 BBG000JF5K69 1,134,130 93,344 SH   SOLE   93,344 0 0
EASTERN BANKSHARES INC COM 27627N105 BBG00W9KWXC4 5,401,082 440,186 SH   SOLE   440,186 0 0
ENACT HLDGS INC COM 29249E109 BBG00WSNP4R3 542,155 21,574 SH   SOLE   21,574 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 BBG000DZN289 2,543,846 65,060 SH   SOLE   65,060 0 0
ENVESTNET INC COM 29404K106 BBG000Q4NZ54 267,847 4,513 SH   SOLE   4,513 0 0
EQUINIX INC COM 29444U700 BBG000MBDGM6 645,183 823 SH   SOLE   823 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 BBG000QKJS40 23,415,015 1,027,876 SH   SOLE   1,027,876 0 0
ESSA BANCORP INC COM 29667D104 BBG000R3PVY0 15,444,098 1,033,050 SH   SOLE   1,033,050 0 0
EVANS BANCORP INC COM NEW 29911Q208 BBG000CB1FM2 13,468,009 540,233 SH   SOLE   540,233 0 0
FIDELIS INSURANCE HOLDINGS L COM G3398L118 BBG009CWCN93 1,706,250 125,000 SH   SOLE   125,000 0 0
FIFTH THIRD BANCORP COM 316773100 BBG000BJL3N0 458,754 17,503 SH   SOLE   17,503 0 0
FIRST BANCSHARES INC MS COM 318916103 BBG000BHWFN5 43,186,960 1,671,322 SH   SOLE   1,671,322 0 0
FIRST MERCHANTS CORP COM 320817109 BBG000BBSJ28 2,655,229 94,057 SH   SOLE   94,057 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 BBG000FPK736 5,226,715 394,472 SH   SOLE   394,472 0 0
FIRST WESTN FINL INC COM 33751L105 BBG000BK7L26 6,868,292 369,263 SH   SOLE   369,263 0 0
FVCBANKCORP INC COM 36120Q101 BBG000DS5RF2 10,881,836 1,010,384 SH   SOLE   1,010,384 0 0
GALLAGHER ARTHUR J & CO COM 363576109 BBG000BBHXQ3 690,109 3,143 SH   SOLE   3,143 0 0
GCM GROSVENOR INC COM CL A 36831E108 BBG00Y73FFL8 421,644 55,921 SH   SOLE   55,921 0 0
GLOBAL PMTS INC COM 37940X102 BBG000CX0P89 1,068,055 10,841 SH   SOLE   10,841 0 0
GOOSEHEAD INS INC COM CL A 38267D109 BBG00KHHBMC5 1,029,069 16,363 SH   SOLE   16,363 0 0
HANOVER INS GROUP INC COM 410867105 BBG000FJH8W0 745,772 6,598 SH   SOLE   6,598 0 0
HAWTHORN BANCSHARES INC COM 420476103 BBG000BHQP32 1,290,372 71,887 SH   SOLE   71,887 0 0
HCI GROUP INC COM 40416E103 BBG000F4DVC8 1,475,245 23,879 SH   SOLE   23,879 0 0
HERCULES CAPITAL INC COM 427096508 BBG000C2R8K2 480,541 32,469 SH   SOLE   32,469 0 0
HERITAGE COMM CORP COM 426927109 BBG000C48437 11,664,111 1,408,709 SH   SOLE   1,408,709 0 0
HMN FINL INC COM 40424G108 BBG000D93RD8 5,311,909 283,453 SH   SOLE   283,453 0 0
HOME BANCORP INC COM 43689E107 BBG000J31X35 25,221,799 759,464 SH   SOLE   759,464 0 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5W70 35,078,739 1,679,212 SH   SOLE   1,679,212 0 0
HUNTINGTON BANCSHARES INC COM 446150104 BBG000BKWSR6 483,009 44,806 SH   SOLE   44,806 0 0
INDEPENDENT BK CORP MICH COM NEW 453838609 BBG000BLN9N0 21,855,640 1,288,658 SH   SOLE   1,288,658 0 0
KEMPER CORP COM 488401100 BBG000H3GDJ8 746,341 15,465 SH   SOLE   15,465 0 0
LADDER CAP CORP CL A 505743104 BBG005RVGZ41 413,721 38,131 SH   SOLE   38,131 0 0
LENNAR CORP CL A 526057104 BBG000BN5HF7 468,033 3,735 SH   SOLE   3,735 0 0
LINKBANCORP INC COM 53578P105 BBG00M69LH40 8,946,594 1,491,099 SH   SOLE   1,491,099 0 0
MAIN STR CAP CORP COM 56035L104 BBG000BXT422 732,709 18,304 SH   SOLE   18,304 0 0
MERCHANTS BANCORP IND COM 58844R108 BBG000RMQZS5 7,584,803 296,513 SH   SOLE   296,513 0 0
MID PENN BANCORP INC COM 59540G107 BBG000BB7F65 11,824,017 535,508 SH   SOLE   535,508 0 0
MIDLAND STATES BANCORP INC COM 597742105 BBG000G2ZK31 26,194,313 1,315,636 SH   SOLE   1,315,636 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 BBG000BQVV88 2,628,254 122,988 SH   SOLE   122,988 0 0
MR COOPER GROUP INC COM 62482R107 BBG002V098F7 913,495 18,039 SH   SOLE   18,039 0 0
NATIONAL BK HLDGS CORP CL A 633707104 BBG003D8Y833 4,706,919 162,084 SH   SOLE   162,084 0 0
NMI HLDGS INC CL A 629209305 BBG005DLMMZ6 530,549 20,548 SH   SOLE   20,548 0 0
OCEANFIRST FINL CORP COM 675234108 BBG000GYLFT9 924,704 59,200 SH   SOLE   59,200 0 0
OLD NATL BANCORP IND COM 680033107 BBG000KFW1C2 24,331,810 1,745,467 SH   SOLE   1,745,467 0 0
OLD POINT FINL CORP COM 680194107 BBG000BSBQ78 6,246,260 360,015 SH   SOLE   360,015 0 0
OLD SECOND BANCORP INC ILL COM 680277100 BBG000BLFSZ4 33,820,685 2,589,639 SH   SOLE   2,589,639 0 0
OWL ROCK CAPITAL CORPORATION COM 69121K104   529,231 39,436 SH   SOLE   39,436 0 0
PARTNERS BANCORP COM 70213Q108 BBG000BPGVM1 6,512,412 1,052,086 SH   SOLE   1,052,086 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107 BBG00LMYX123 411,524 5,853 SH   SOLE   5,853 0 0
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201 BBG011RJSSB1 1,004,508 29,475 SH   SOLE   29,475 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 BBG000C1XKF6 3,430,214 60,551 SH   SOLE   60,551 0 0
PIONEER BANCORP INC MD COM 723561106 BBG00PFB4RR0 17,317,632 1,934,931 SH   SOLE   1,934,931 0 0
PREMIER FINANCIAL CORP COM 74052F108 BBG000BHZ4J2 6,551,331 408,947 SH   SOLE   408,947 0 0
PROGRESSIVE CORP COM 743315103 BBG000BR37X2 705,135 5,327 SH   SOLE   5,327 0 0
PROLOGIS INC. COM 74340W103 BBG000B9Z0J8 608,981 4,966 SH   SOLE   4,966 0 0
QCR HOLDINGS INC COM 74727A104 BBG000BYZSM8 26,938,739 656,562 SH   SOLE   656,562 0 0
RBB BANCORP COM 74930B105 BBG002537TC9 19,644,966 1,645,307 SH   SOLE   1,645,307 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 BBG000BDLCQ0 947,530 6,832 SH   SOLE   6,832 0 0
RICHMOND MUT BANCORPORATION COM 76525P100 BBG000KWLYL5 1,475,882 133,685 SH   SOLE   133,685 0 0
RITHM CAPITAL CORP COM NEW 64828T201 BBG003T1GM03 878,816 93,991 SH   SOLE   93,991 0 0
RIVERVIEW BANCORP INC COM 769397100 BBG000BGZL88 10,954,788 2,173,569 SH   SOLE   2,173,569 0 0
SALISBURY BANCORP INC COM 795226109 BBG000BF55Z8 5,370,902 226,716 SH   SOLE   226,716 0 0
SB FINL GROUP INC COM 78408D105 BBG000BJQTT2 4,713,835 373,521 SH   SOLE   373,521 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 BBG000KK3464 31,270,903 1,414,973 SH   SOLE   1,414,973 0 0
SHORE BANCSHARES INC COM 825107105 BBG000BS3PL3 11,484,479 993,467 SH   SOLE   993,467 0 0
SOUND FINL BANCORP INC COM 83607A100 BBG000BD3F92 7,226,877 203,574 SH   SOLE   203,574 0 0
SOUTHERN CALIF BANCORP COM 84252A106 BBG000QJ8KD2 7,673,912 559,323 SH   SOLE   559,323 0 0
SOUTHERN FIRST BANCSHARES COM 842873101 BBG000C0C4Q5 19,577,473 791,009 SH   SOLE   791,009 0 0
SOUTHERN MO BANCORP INC COM 843380106 BBG000C3ZNH2 28,390,365 738,371 SH   SOLE   738,371 0 0
STELLAR BANCORP INC COM 858927106 BBG00HZ69KP9 5,990,954 261,728 SH   SOLE   261,728 0 0
STERLING BANCORP INC COM 85917W102 BBG00328QCC5 16,145,383 2,951,624 SH   SOLE   2,951,624 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 BBG003PGJHP5 444,441 9,113 SH   SOLE   9,113 0 0
TEXAS CAP BANCSHARES INC COM 88224Q107 BBG000DN4ZT1 20,885,928 405,552 SH   SOLE   405,552 0 0
TOLL BROTHERS INC COM 889478103 BBG000BVHBM1 440,499 5,571 SH   SOLE   5,571 0 0
TRADEWEB MKTS INC CL A 892672106 BBG00NK8H8T2 601,734 8,787 SH   SOLE   8,787 0 0
UNITED SEC BANCSHARES CALIF COM 911460103 BBG000G81WK0 4,096,113 615,032 SH   SOLE   615,032 0 0
VERITEX HLDGS INC COM 923451108 BBG000QG9SX8 9,501,233 529,907 SH   SOLE   529,907 0 0
VOYA FINANCIAL INC COM 929089100 BBG000BCWKD6 397,560 5,544 SH   SOLE   5,544 0 0
WALKER & DUNLOP INC COM 93148P102 BBG000K8K0L3 978,501 12,372 SH   SOLE   12,372 0 0
WINTRUST FINL CORP COM 97650W108 BBG000HD3DW5 18,795,145 258,815 SH   SOLE   258,815 0 0