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 527 50,654 SH   SOLE   50,654 0 0
AFFINITY BANCSHARES INC COM 00832E103 356 24,360 SH   SOLE   24,360 0 0
AMERIS BANCORP COM 03076K108 268 5,993 SH   SOLE   5,993 0 0
AMERISERV FINL INC COM 03074A102 517 135,941 SH   SOLE   135,941 0 0
BANC OF CALIFORNIA INC COM 05990K106 7,463 467,291 SH   SOLE   467,291 0 0
BANK OF THE JAMES FINL GP IN COM 470299108 415 32,833 SH   SOLE   32,833 0 0
BANK PRINCETON NEW JERSEY COM 064520109 2,522 88,959 SH   SOLE   88,959 0 0
BANKFINANCIAL CORP COM 06643P104 1,873 197,981 SH   SOLE   197,981 0 0
BANKUNITED INC COM 06652K103 541 15,825 SH   SOLE   15,825 0 0
BANKWELL FINL GROUP INC COM 06654A103 1,204 41,369 SH   SOLE   41,369 0 0
BAYCOM CORP COM 07272M107 3,417 194,369 SH   SOLE   194,369 0 0
BCB BANCORP INC COM 055298103 1,735 103,065 SH   SOLE   103,065 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 499 18,285 SH   SOLE   18,285 0 0
BLUE FOUNDRY BANCORP COM 09549B104 705 63,243 SH   SOLE   63,243 0 0
BOGOTA FINL CORP COM 097235105 339 30,738 SH   SOLE   30,738 0 0
BYLINE BANCORP INC COM 124411109 474 23,429 SH   SOLE   23,429 0 0
C & F FINL CORP COM 12466Q104 1,863 34,820 SH   SOLE   34,820 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 4,013 216,592 SH   SOLE   216,592 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 330 18,637 SH   SOLE   18,637 0 0
CF BANKSHARES INC COM 12520L109 1,516 73,521 SH   SOLE   73,521 0 0
CHEMUNG FINL CORP COM 164024101 421 10,058 SH   SOLE   10,058 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 461 37,839 SH   SOLE   37,839 0 0
CITIZENS FINL GROUP INC COM 174610105 1,175 34,200 SH   SOLE   34,200 0 0
CITIZENS HLDG CO MISS COM 174715102 268 17,505 SH   SOLE   17,505 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,981 95,419 SH   SOLE   95,419 0 0
CNB FINL CORP PA COM 126128107 1,250 53,016 SH   SOLE   53,016 0 0
CODORUS VY BANCORP INC COM 192025104 948 50,343 SH   SOLE   50,343 0 0
COLONY BANKCORP INC COM 19623P101 499 38,285 SH   SOLE   38,285 0 0
COLUMBIA FINL INC COM 197641103 618 29,226 SH   SOLE   29,226 0 0
COMMUNITY FINL CORP MD COM 20368X101 4,516 131,654 SH   SOLE   131,654 0 0
COMMUNITY WEST BANCSHARES COM 204157101 936 67,068 SH   SOLE   67,068 0 0
DIME CMNTY BANCSHARES INC COM 25432X102 1,670 57,028 SH   SOLE   57,028 0 0
EAGLE BANCORP INC MD COM 268948106 215 4,800 SH   SOLE   4,800 0 0
EAGLE BANCORP MONT INC COM 26942G100 1,072 56,399 SH   SOLE   56,399 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 1,952 65,247 SH   SOLE   65,247 0 0
ESSA BANCORP INC COM 29667D104 218 11,220 SH   SOLE   11,220 0 0
F N B CORP COM 302520101 189 16,336 SH   SOLE   16,336 0 0
FFBW INC COM 30258M107 610 51,270 SH   SOLE   51,270 0 0
FINANCIAL INSTNS INC COM 317585404 4,206 174,747 SH   SOLE   174,747 0 0
FINWARD BANCORP COM 31812F109 692 20,347 SH   SOLE   20,347 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 3,759 274,953 SH   SOLE   274,953 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 364 11,279 SH   SOLE   11,279 0 0
FIRST CAP INC COM 31942S104 365 14,180 SH   SOLE   14,180 0 0
FIRST CMNTY CORP S C COM 319835104 1,300 74,273 SH   SOLE   74,273 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 2,465 166,132 SH   SOLE   166,132 0 0
FIRST FINL CORP IND COM 320218100 3,843 85,034 SH   SOLE   85,034 0 0
FIRST FNDTN INC COM 32026V104 225 12,428 SH   SOLE   12,428 0 0
FIRST LONG IS CORP COM 320734106 1,706 98,953 SH   SOLE   98,953 0 0
FIRST NATL CORP COM 32106V107 323 21,116 SH   SOLE   21,116 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,667 103,519 SH   SOLE   103,519 0 0
FIRST SEACOAST BANCORP COM 33631P102 196 18,983 SH   SOLE   18,983 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 748 32,544 SH   SOLE   32,544 0 0
FIRST US BANCSHARES INC COM 33744V103 732 91,959 SH   SOLE   91,959 0 0
FLUSHING FINL CORP COM 343873105 2,666 137,610 SH   SOLE   137,610 0 0
FNCB BANCORP INC COM 302578109 647 86,116 SH   SOLE   86,116 0 0
FRANKLIN FINL SVCS CORP COM 353525108 404 12,816 SH   SOLE   12,816 0 0
FS BANCORP INC COM 30263Y104 5,469 200,640 SH   SOLE   200,640 0 0
FULTON FINL CORP PA COM 360271100 406 25,673 SH   SOLE   25,673 0 0
GENERATIONS BANCORP NY INC COM 37149G108 242 21,938 SH   SOLE   21,938 0 0
GLEN BURNIE BANCORP COM 377407101 219 23,205 SH   SOLE   23,205 0 0
HARBORONE BANCORP INC NEW COM NEW 41165Y100 1,486 110,760 SH   SOLE   110,760 0 0
HERITAGE COMMERCE CORP COM 426927109 1,319 116,357 SH   SOLE   116,357 0 0
HILLTOP HOLDINGS INC COM 432748101 3,358 135,128 SH   SOLE   135,128 0 0
HMN FINL INC COM 40424G108 886 39,554 SH   SOLE   39,554 0 0
HOME BANCORP INC COM 43689E107 1,702 43,644 SH   SOLE   43,644 0 0
HOPE BANCORP INC COM 43940T109 543 42,933 SH   SOLE   42,933 0 0
IF BANCORP INC COM 44951J105 211 11,121 SH   SOLE   11,121 0 0
INDEPENDENT BK CORP MASS COM 453836108 1,742 91,225 SH   SOLE   91,225 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 4,450 104,702 SH   SOLE   104,702 0 0
KEARNY FINL CORP MD COM 48716P108 1,610 151,564 SH   SOLE   151,564 0 0
KENTUCKY FIRST FED BANCORP COM 491292108 150 20,826 SH   SOLE   20,826 0 0
LAKE SHORE BANCORP INC COM 510700107 227 17,245 SH   SOLE   17,245 0 0
LAKELAND BANCORP INC COM 511637100 5,540 346,018 SH   SOLE   346,018 0 0
LIMESTONE BANCORP INC COM 53262L105 1,052 53,610 SH   SOLE   53,610 0 0
MACATAWA BK CORP COM 554225102 2,708 292,438 SH   SOLE   292,438 0 0
MAGYAR BANCORP INC COM 55977T208 345 27,774 SH   SOLE   27,774 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 719 31,501 SH   SOLE   31,501 0 0
MALVERN BANCORP INC COM 561409103 702 48,826 SH   SOLE   48,826 0 0
MERCANTILE BANK CORP COM 587376104 992 33,378 SH   SOLE   33,378 0 0
MERCHANTS BANCORP IND COM 58844R108 239 10,348 SH   SOLE   10,348 0 0
MERIDIAN BANCORP INC MD COM 58958U103 557 19,097 SH   SOLE   19,097 0 0
MID PENN BANCORP INC COM 59540G107 1,069 37,219 SH   SOLE   37,219 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 2,193 80,346 SH   SOLE   80,346 0 0
NORTHFIELD BANCORP INC DEL COM 66611T108 1,804 126,034 SH   SOLE   126,034 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 786 43,972 SH   SOLE   43,972 0 0
OP BANCORP COM 67109R109 3,863 347,409 SH   SOLE   347,409 0 0
OPTIMUMBANK HLDGS INC COM 68401P403 215 52,937 SH   SOLE   52,937 0 0
ORRSTOWN FINL SVCS INC COM 687380105 249 10,397 SH   SOLE   10,397 0 0
PACWEST BANCORP DEL COM 695263103 9,118 403,472 SH   SOLE   403,472 0 0
PARKE BANCORP INC COM 700885106 4,223 201,476 SH   SOLE   201,476 0 0
PCB BANCORP COM 69320M109 2,013 111,410 SH   SOLE   111,410 0 0
PCSB FINL CORP COM 69324R104 5,051 281,690 SH   SOLE   281,690 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 1,905 56,612 SH   SOLE   56,612 0 0
PEOPLES BANCORP N C INC COM 710577107 283 11,400 SH   SOLE   11,400 0 0
PIONEER BANCORP INC MD COM 723561106 795 83,505 SH   SOLE   83,505 0 0
PLUMAS BANCORP COM 729273102 208 7,315 SH   SOLE   7,315 0 0
PONCE FINANCIAL GROUP INC COMMON STOCK 732344106 1,155 126,063 SH   SOLE   126,063 0 0
PRIMIS FINANCIAL CORP COM 74167B109 4,171 343,858 SH   SOLE   343,858 0 0
RANDOLPH BANCORP INC COM 752378109 2,547 94,469 SH   SOLE   94,469 0 0
RBB BANCORP COM 74930B105 4,267 205,354 SH   SOLE   205,354 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 4,726 1,669,991 SH   SOLE   1,669,991 0 0
RHINEBECK BANCORP INC COM 762093102 191 19,628 SH   SOLE   19,628 0 0
RICHMOND MUT BANCORPORATION COM 76525P100 196 14,559 SH   SOLE   14,559 0 0
SB FINL GROUP INC COM 78408D105 754 44,722 SH   SOLE   44,722 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605 44,160 1,380,000 SH Put SOLE   1,380,000 0 0
SHORE BANCSHARES INC COM 825107105 1,863 107,579 SH   SOLE   107,579 0 0
SIERRA BANCORP COM 82620P102 2,753 139,415 SH   SOLE   139,415 0 0
SMARTFINANCIAL INC COM NEW 83190L208 3,560 144,082 SH   SOLE   144,082 0 0
SOUND FINL BANCORP INC COM 83607A100 951 23,477 SH   SOLE   23,477 0 0
SOUTHERN STS BANCSHARES INC COM 843878307 1,830 67,153 SH   SOLE   67,153 0 0
SUMMIT FINL GROUP INC COM 86606G101 879 32,613 SH   SOLE   32,613 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 959 66,087 SH   SOLE   66,087 0 0
TC BANCSHARES INC COM 87224V108 177 12,277 SH   SOLE   12,277 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 10,888 184,445 SH   SOLE   184,445 0 0
THIRD COAST BANCSHARES INC COM 88422P109 253 14,783 SH   SOLE   14,783 0 0
TIMBERLAND BANCORP INC COM 887098101 1,456 52,659 SH   SOLE   52,659 0 0
TRUSTCO BK CORP N Y COM NEW 898349204 391 12,442 SH   SOLE   12,442 0 0
UMPQUA HLDGS CORP COM 904214103 1,757 102,814 SH   SOLE   102,814 0 0
UNITED SEC BANCSHARES CALIF COM 911460103 99 15,251 SH   SOLE   15,251 0 0
UNITY BANCORP INC COM 913290102 917 36,521 SH   SOLE   36,521 0 0
VERITEX HLDGS INC COM 923451108 415 15,624 SH   SOLE   15,624 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 2,163 266,060 SH   SOLE   266,060 0 0