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
1st Source Corp COM 336901103 2,069,730 43,500 SH   SOLE 0 43,500 0 0
Altabancorp COM 021347109 1,719,436 40,900 SH   SOLE 0 40,900 0 0
Alerus Finacial Corp COM 01446U103 4,216,610 80,692 SH   SOLE 0 80,692 0 0
Allegiance Bancshares Inc COM 01748H107 1,581,060 39,000 SH   SOLE 0 39,000 0 0
American National Bankshares Inc COM 027745108 248,025 7,500 SH   SOLE 0 7,500 0 0
Bancorp Inc COM 05969A105 7,342,638 338,636 SH   SOLE 0 338,636 0 0
Banner Corporation COM 06652V208 2,065,097 38,723 SH   SOLE 0 38,723 0 0
BancFirst Corp COM 05945F103 4,264,728 60,330 SH   SOLE 0 60,330 0 0
Bank of Marin Bancorp COM 063425102 1,911,008 48,800 SH   SOLE 0 48,800 0 0
BNCCORP Inc COM 055936108 862,805 23,841 SH   SOLE 0 23,841 0 0
Bridgewater Bancshares Inc. COM 108621103 3,489,321 216,057 SH   SOLE 0 216,057 0 0
Bryn Mawr Bk Corp COM 117665109 1,222,944 26,872 SH   SOLE 0 26,872 0 0
Cambridge Bancorp COM 132152109 421,600 5,000 SH   SOLE 0 5,000 0 0
Century Bancorp Inc Mass CL A NON VTG 156432106 2,799,300 30,000 SH   SOLE 0 30,000 0 0
CommerceWest Bank COM 20084T103 3,302,250 129,500 SH   SOLE 0 129,500 0 0
Connectone Bancorp Inc NEW COM 20786W107 3,168,750 125,000 SH   SOLE 0 125,000 0 0
Central Pacific Finacial Corp COM 154760409 355,724 13,333 SH   SOLE 0 13,333 0 0
First Busey Corp COM NEW 319383204 1,077,300 42,000 SH   SOLE 0 42,000 0 0
Flagstar Bancorp Inc COM 337930101 3,294,329 73,045 SH   SOLE 0 73,045 0 0
First Bus Finl Svcs Inc Wis COM 319390100 1,236,500 50,000 SH   SOLE 0 50,000 0 0
First Choice Bancorp COM 31948P104 401,115 16,500 SH   SOLE 0 16,500 0 0
First Fndtn Inc COM 32026V104 2,862,120 122,000 SH   SOLE 0 122,000 0 0
Farmers National Banc Corp COM 309627107 359,968 21,555 SH   SOLE 0 21,555 0 0
First Mid Bancshares Inc. COM 320866106 878,600 20,000 SH   SOLE 0 20,000 0 0
FVCBankcorp Inc COM 36120Q101 763,812 44,100 SH   SOLE 0 44,100 0 0
German Amern Bancorp Inc COM 373865104 3,403,271 73,632 SH   SOLE 0 73,632 0 0
Horizon Bancorp Inc COM 440407104 2,136,700 115,000 SH   SOLE 0 115,000 0 0
Lakeland Finl Corp COM 511656100 6,337,804 91,600 SH   SOLE 0 91,600 0 0
Level One Bancorp Inc COM 52730D208 1,906,431 73,950 SH   SOLE 0 73,950 0 0
Merchants Bancorp Ind COM 58844R108 524,250 12,500 SH   SOLE 0 12,500 0 0
Mercantile Bank Corp COM 587376104 1,623,500 50,000 SH   SOLE 0 50,000 0 0
Meridian Bancorp Incorporated COM 58958U103 460,500 25,000 SH   SOLE 0 25,000 0 0
Meta Finl Group Inc COM 59100U108 8,508,312 187,780 SH   SOLE 0 187,780 0 0
National Bankshares Inc COM 634865109 175,952 4,955 SH   SOLE 0 4,955 0 0
Northrim BanCorp Inc COM 666762109 263,562 6,200 SH   SOLE 0 6,200 0 0
Oceanfirst Financial Corp. COM 675234108 478,800 20,000 SH   SOLE 0 20,000 0 0
Primis Finl Corp COM 843395104 290,800 20,000 SH   SOLE 0 20,000 0 0
Pacific Premier Bancorp COM 69478X105 4,407,292 101,457 SH   SOLE 0 101,457 0 0
Regions Financial Corp COM 7591EP100 4,787,852 231,745 SH   SOLE 0 231,745 0 0
Riverview Bancorp Incorporated COM 769397100 277,200 40,000 SH   SOLE 0 40,000 0 0
Sandy Spring Bancorp Inc COM 800363103 1,602,567 36,900 SH   SOLE 0 36,900 0 0
Seacost BKG Corporation COM 811707306 3,691,443 101,861 SH   SOLE 0 101,861 0 0
SVB Finacial Group COM 78486Q101 6,215,179 12,590 SH   SOLE 0 12,590 0 0
Signature Bank COM 82669G104 3,334,975 14,750 SH   SOLE 0 14,750 0 0
Stock Yds Bancorp Inc COM 861025104 3,611,934 70,739 SH   SOLE 0 70,739 0 0
Summit St Bk Santa Rosa Cali COM 866264203 261,120 16,000 SH   SOLE 0 16,000 0 0
Tompkins Financial Corporati COM 890110109 824,602 9,971 SH   SOLE 0 9,971 0 0
TowneBank Portsmouth VA COM 89214P109 2,097,600 69,000 SH   SOLE 0 69,000 0 0
Trico Bancshares COM 896095106 341,064 7,200 SH   SOLE 0 7,200 0 0
University Bancorp COM 914090105 555,251 39,185 SH   SOLE 0 39,185 0 0
West Bancorporation Inc CAP STK 95123P106 2,184,120 90,665 SH   SOLE 0 90,665 0 0
Wintrust Finacial Corp COM 97650W108 6,255,243 82,523 SH   SOLE 0 82,523 0 0
WSFS Financial Corp COM 929328102 1,294,540 26,000 SH   SOLE 0 26,000 0 0
Zions Bancorporation COM 989701107 4,058,796 73,850 SH   SOLE 0 73,850 0 0