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
1895 BANCORP OF WIS INC COM 28253R105 519 50,654 SH   SOLE   50,654 0 0
AFFINITY BANCSHARES INC COM 00832E103 362 24,360 SH   SOLE   24,360 0 0
AMERIS BANCORP COM 03076K108 747 18,593 SH   SOLE   18,593 0 0
AMERISERV FINL INC COM 03074A102 795 201,776 SH   SOLE   201,776 0 0
BANC OF CALIFORNIA INC COM 05990K106 8,577 486,791 SH   SOLE   486,791 0 0
BANK OF THE JAMES FINL GP IN COM 470299108 401 30,842 SH   SOLE   30,842 0 0
BANK PRINCETON NEW JERSEY COM 064520109 2,399 87,358 SH   SOLE   87,358 0 0
BANKFINANCIAL CORP COM 06643P104 1,859 197,981 SH   SOLE   197,981 0 0
BANKWELL FINL GROUP INC COM 06654A103 948 30,534 SH   SOLE   30,534 0 0
BAYCOM CORP COM 07272M107 3,222 155,790 SH   SOLE   155,790 0 0
BCB BANCORP INC COM 055298103 1,755 103,065 SH   SOLE   103,065 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 3,402 137,348 SH   SOLE   137,348 0 0
BLUE FOUNDRY BANCORP COM 09549B104 265 22,123 SH   SOLE   22,123 0 0
BOGOTA FINL CORP COM 097235105 258 23,005 SH   SOLE   23,005 0 0
C & F FINL CORP COM 12466Q104 1,711 37,220 SH   SOLE   37,220 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 5,522 281,466 SH   SOLE   281,466 0 0
CBM BANCORP INC COM 1248XT104 1,870 106,546 SH   SOLE   106,546 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 302 20,846 SH   SOLE   20,846 0 0
CF BANKSHARES INC COM 12520L109 1,544 73,521 SH   SOLE   73,521 0 0
CHEMUNG FINL CORP COM 164024101 454 9,658 SH   SOLE   9,658 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 496 35,838 SH   SOLE   35,838 0 0
CITIZENS FINL GROUP INC COM 174610105 339 9,500 SH   SOLE   9,500 0 0
CITIZENS HLDG CO MISS COM 174715102 300 16,655 SH   SOLE   16,655 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,743 81,997 SH   SOLE   81,997 0 0
CNB FINL CORP PA COM 126128107 1,487 61,462 SH   SOLE   61,462 0 0
CODORUS VY BANCORP INC COM 192025104 891 39,583 SH   SOLE   39,583 0 0
COLONY BANKCORP INC COM 19623P101 982 65,106 SH   SOLE   65,106 0 0
COLUMBIA FINL INC COM 197641103 816 37,426 SH   SOLE   37,426 0 0
COMMUNITY FINL CORP MD COM 20368X101 5,094 138,134 SH   SOLE   138,134 0 0
COMMUNITY WEST BANCSHARES COM 204157101 970 67,768 SH   SOLE   67,768 0 0
DIME CMNTY BANCSHARES INC COM 25432X102 1,691 57,028 SH   SOLE   57,028 0 0
EAGLE BANCORP MONT INC COM 26942G100 1,123 56,399 SH   SOLE   56,399 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 2,097 65,145 SH   SOLE   65,145 0 0
ESSA BANCORP INC COM 29667D104 373 22,186 SH   SOLE   22,186 0 0
F N B CORP COM 302520101 2,728 251,177 SH   SOLE   251,177 0 0
FFBW INC COM 30258M107 658 54,167 SH   SOLE   54,167 0 0
FINANCIAL INSTNS INC COM 317585404 4,560 175,247 SH   SOLE   175,247 0 0
FINWARD BANCORP COM 31812F109 763 20,347 SH   SOLE   20,347 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 3,844 274,953 SH   SOLE   274,953 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 1,367 43,832 SH   SOLE   43,832 0 0
FIRST CMNTY CORP S C COM 319835104 1,424 74,273 SH   SOLE   74,273 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 2,599 167,268 SH   SOLE   167,268 0 0
FIRST FINL CORP IND COM 320218100 4,155 93,379 SH   SOLE   93,379 0 0
FIRST LONG IS CORP COM 320734106 1,735 98,953 SH   SOLE   98,953 0 0
FIRST NATL CORP COM 32106V107 261 14,283 SH   SOLE   14,283 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,676 107,439 SH   SOLE   107,439 0 0
FIRST SEACOAST BANCORP COM 33631P102 139 12,994 SH   SOLE   12,994 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 779 32,544 SH   SOLE   32,544 0 0
FIRST US BANCSHARES INC COM 33744V103 1,018 92,559 SH   SOLE   92,559 0 0
FLUSHING FINL CORP COM 343873105 3,091 145,410 SH   SOLE   145,410 0 0
FNCB BANCORP INC COM 302578109 722 90,216 SH   SOLE   90,216 0 0
FRANKLIN FINL SVCS CORP COM 353525108 387 12,816 SH   SOLE   12,816 0 0
FS BANCORP INC COM 30263Y104 5,732 199,640 SH   SOLE   199,640 0 0
GENERATIONS BANCORP NY INC COM 37149G108 250 21,938 SH   SOLE   21,938 0 0
GLEN BURNIE BANCORP COM 377407101 256 24,100 SH   SOLE   24,100 0 0
GREAT SOUTHN BANCORP INC COM 390905107 794 13,557 SH   SOLE   13,557 0 0
HARBORONE BANCORP INC NEW COM NEW 41165Y100 1,514 109,760 SH   SOLE   109,760 0 0
HERITAGE COMMERCE CORP COM 426927109 2,668 249,534 SH   SOLE   249,534 0 0
HILLTOP HOLDINGS INC COM 432748101 3,568 133,828 SH   SOLE   133,828 0 0
HMN FINL INC COM 40424G108 913 39,554 SH   SOLE   39,554 0 0
HOME BANCORP INC COM 43689E107 1,627 47,671 SH   SOLE   47,671 0 0
IF BANCORP INC COM 44951J105 211 11,121 SH   SOLE   11,121 0 0
INDEPENDENT BK CORP MASS COM 453836108 1,759 91,225 SH   SOLE   91,225 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 5,989 149,435 SH   SOLE   149,435 0 0
INVESTAR HLDG CORP COM 46134L105 371 16,935 SH   SOLE   16,935 0 0
KEARNY FINL CORP MD COM 48716P108 474 42,669 SH   SOLE   42,669 0 0
KENTUCKY FIRST FED BANCORP COM 491292108 166 20,826 SH   SOLE   20,826 0 0
LAKE SHORE BANCORP INC COM 510700107 236 16,869 SH   SOLE   16,869 0 0
LAKELAND BANCORP INC COM 511637100 4,689 320,754 SH   SOLE   320,754 0 0
LIMESTONE BANCORP INC COM 53262L105 996 54,110 SH   SOLE   54,110 0 0
MACATAWA BK CORP COM 554225102 2,585 292,438 SH   SOLE   292,438 0 0
MAGYAR BANCORP INC COM 55977T208 327 27,631 SH   SOLE   27,631 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 654 28,732 SH   SOLE   28,732 0 0
MALVERN BANCORP INC COM 561409103 793 49,326 SH   SOLE   49,326 0 0
MERCANTILE BANK CORP COM 587376104 1,383 43,278 SH   SOLE   43,278 0 0
MERCHANTS BANCORP IND COM 58844R108 235 10,348 SH   SOLE   10,348 0 0
MERIDIAN BANCORP INC MD COM 58958U103 497 16,397 SH   SOLE   16,397 0 0
MID PENN BANCORP INC COM 59540G107 1,246 46,205 SH   SOLE   46,205 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 2,614 87,952 SH   SOLE   87,952 0 0
NORTHFIELD BANCORP INC DEL COM 66611T108 1,619 124,234 SH   SOLE   124,234 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 761 44,272 SH   SOLE   44,272 0 0
OP BANCORP COM 67109R109 4,249 405,026 SH   SOLE   405,026 0 0
OPTIMUMBANK HLDGS INC COM 68401P403 212 52,937 SH   SOLE   52,937 0 0
ORRSTOWN FINL SVCS INC COM 687380105 960 39,724 SH   SOLE   39,724 0 0
PACWEST BANCORP DEL COM 695263103 4,014 150,565 SH   SOLE   150,565 0 0
PARKE BANCORP INC COM 700885106 4,330 206,570 SH   SOLE   206,570 0 0
PCB BANCORP COM 69320M109 2,510 134,358 SH   SOLE   134,358 0 0
PCSB FINL CORP COM 69324R104 1,311 68,683 SH   SOLE   68,683 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 2,179 73,382 SH   SOLE   73,382 0 0
PEOPLES BANCORP N C INC COM 710577107 310 11,400 SH   SOLE   11,400 0 0
PIONEER BANCORP INC MD COM 723561106 723 73,808 SH   SOLE   73,808 0 0
PLUMAS BANCORP COM 729273102 217 7,600 SH   SOLE   7,600 0 0
PONCE FINANCIAL GROUP INC COMMON STOCK 732344106 1,165 126,063 SH   SOLE   126,063 0 0
PRIMIS FINANCIAL CORP COM 74167B109 4,710 345,558 SH   SOLE   345,558 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 487 32,196 SH   SOLE   32,196 0 0
RANDOLPH BANCORP INC COM 752378109 2,499 94,469 SH   SOLE   94,469 0 0
RBB BANCORP COM 74930B105 4,245 205,354 SH   SOLE   205,354 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 6,363 1,669,991 SH   SOLE   1,669,991 0 0
RHINEBECK BANCORP INC COM 762093102 182 19,628 SH   SOLE   19,628 0 0
RICHMOND MUT BANCORPORATION COM 76525P100 198 14,153 SH   SOLE   14,153 0 0
SB FINL GROUP INC COM 78408D105 791 45,849 SH   SOLE   45,849 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605 42,560 1,330,000 SH Put SOLE   1,330,000 0 0
SHORE BANCSHARES INC COM 825107105 1,990 107,579 SH   SOLE   107,579 0 0
SIERRA BANCORP COM 82620P102 2,809 129,291 SH   SOLE   129,291 0 0
SMARTFINANCIAL INC COM NEW 83190L208 3,481 144,082 SH   SOLE   144,082 0 0
SOUND FINL BANCORP INC COM 83607A100 1,064 28,032 SH   SOLE   28,032 0 0
SOUTH PLAINS FINANCIAL INC COM 83946P107 584 24,201 SH   SOLE   24,201 0 0
SOUTHERN STS BANCSHARES INC COM 843878307 1,574 70,000 SH   SOLE   70,000 0 0
SUMMIT FINL GROUP INC COM 86606G101 906 32,613 SH   SOLE   32,613 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 1,064 69,887 SH   SOLE   69,887 0 0
TC BANCSHARES INC COM 87224V108 164 12,077 SH   SOLE   12,077 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 9,737 184,965 SH   SOLE   184,965 0 0
TIMBERLAND BANCORP INC COM 887098101 1,379 55,163 SH   SOLE   55,163 0 0
TRUSTCO BK CORP N Y COM NEW 898349204 674 21,842 SH   SOLE   21,842 0 0
UMPQUA HLDGS CORP COM 904214103 1,724 102,814 SH   SOLE   102,814 0 0
UNITED BANCSHARES INC OHIO COM 909458101 524 18,399 SH   SOLE   18,399 0 0
UNITY BANCORP INC COM 913290102 967 36,521 SH   SOLE   36,521 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 1,985 266,060 SH   SOLE   266,060 0 0
WVS FINL CORP COM 929358109 188 12,628 SH   SOLE   12,628 0 0