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 CONSTITUTION BANCORP COM 31986N102 4,181 176,651 SH   SOLE   176,651 0 0
AMERISERV FINL INC COM 03074A102 2,223 572,176 SH   SOLE   572,176 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 3,812 143,902 SH   SOLE   143,902 0 0
BANC OF CALIFORNIA INC COM 05990K106 459 24,812 SH   SOLE   24,812 0 0
BANK COMM HLDGS COM 06424J103 6,879 453,428 SH   SOLE   453,428 0 0
BANK OF THE JAMES FINL GP IN COM 470299108 429 29,758 SH   SOLE   29,758 0 0
BANK PRINCETON NEW JERSEY COM 064520109 2,066 69,171 SH   SOLE   69,171 0 0
BANKFINANCIAL CORP COM 06643P104 2,068 180,167 SH   SOLE   180,167 0 0
BANKWELL FINL GROUP INC COM 06654A103 949 32,538 SH   SOLE   32,538 0 0
BANNER CORP COM NEW 06652V208 5,512 99,841 SH   SOLE   99,841 0 0
BAYCOM CORP COM 07272M107 2,137 114,896 SH   SOLE   114,896 0 0
BCB BANCORP INC COM 055298103 1,237 83,813 SH   SOLE   83,813 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 5,946 220,400 SH   SOLE   220,400 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 482 27,405 SH   SOLE   27,405 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 896 58,718 SH   SOLE   58,718 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 304 12,998 SH   SOLE   12,998 0 0
BYLINE BANCORP INC COM 124411109 253 10,292 SH   SOLE   10,292 0 0
C & F FINL CORP COM 12466Q104 2,078 39,131 SH   SOLE   39,131 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 11,172 526,006 SH   SOLE   526,006 0 0
CARTER BK & TR MARTINSVILLE COM 146102108 2,123 149,331 SH   SOLE   149,331 0 0
CB FINL SVCS INC COM 12479G101 494 21,053 SH   SOLE   21,053 0 0
CBM BANCORP INC COM 1248XT104 348 21,868 SH   SOLE   21,868 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 4,706 218,905 SH   SOLE   218,905 0 0
CF BANKSHARES INC COM 12520L109 1,356 66,303 SH   SOLE   66,303 0 0
CHEMUNG FINL CORP COM 164024101 243 5,361 SH   SOLE   5,361 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 430 31,238 SH   SOLE   31,238 0 0
CITIZENS HLDG CO MISS COM 174715102 257 13,579 SH   SOLE   13,579 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 2,259 97,238 SH   SOLE   97,238 0 0
CNB FINL CORP PA COM 126128107 967 39,712 SH   SOLE   39,712 0 0
CODORUS VY BANCORP INC COM 192025104 989 43,863 SH   SOLE   43,863 0 0
COLONY BANKCORP INC COM 19623P101 3,389 181,985 SH   SOLE   181,985 0 0
COLUMBIA FINL INC COM 197641103 2,080 112,452 SH   SOLE   112,452 0 0
COMMUNITY BANKERS TR CORP COM 203612106 4,589 403,637 SH   SOLE   403,637 0 0
COMMUNITY FINL CORP MD COM 20368X101 5,289 143,456 SH   SOLE   143,456 0 0
COMMUNITY WEST BANCSHARES COM 204157101 910 69,768 SH   SOLE   69,768 0 0
COUNTY BANCORP INC COM 221907108 2,091 57,976 SH   SOLE   57,976 0 0
CUSTOMERS BANCORP INC COM 23204G100 1,842 42,817 SH   SOLE   42,817 0 0
EAGLE BANCORP MONT INC COM 26942G100 1,217 54,696 SH   SOLE   54,696 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 2,191 60,942 SH   SOLE   60,942 0 0
ESSA BANCORP INC COM 29667D104 224 13,588 SH   SOLE   13,588 0 0
FFBW INC COM 30258M107 818 67,908 SH   SOLE   67,908 0 0
FINANCIAL INSTNS INC COM 317585404 5,574 181,863 SH   SOLE   181,863 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 3,712 263,444 SH   SOLE   263,444 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 3,546 123,524 SH   SOLE   123,524 0 0
FIRST BUSEY CORP COM NEW 319383204 350 14,194 SH   SOLE   14,194 0 0
FIRST CMNTY CORP S C COM 319835104 1,436 72,515 SH   SOLE   72,515 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 2,757 168,434 SH   SOLE   168,434 0 0
FIRST FINL CORP IND COM 320218100 4,910 116,769 SH   SOLE   116,769 0 0
FIRST GTY BANCSHARES INC COM 32043P106 777 38,696 SH   SOLE   38,696 0 0
FIRST LONG IS CORP COM 320734106 1,639 79,578 SH   SOLE   79,578 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 526 27,694 SH   SOLE   27,694 0 0
FIRST NATL CORP COM 32106V107 362 15,750 SH   SOLE   15,750 0 0
FIRST NORTHWEST BANCORP COM 335834107 2,403 136,853 SH   SOLE   136,853 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 771 27,584 SH   SOLE   27,584 0 0
FIRST US BANCSHARES INC COM 33744V103 1,009 94,259 SH   SOLE   94,259 0 0
FIRST UTD CORP COM 33741H107 283 15,209 SH   SOLE   15,209 0 0
FIRST WESTN FINL INC COM 33751L105 1,280 44,361 SH   SOLE   44,361 0 0
FIVE STAR BANCORP COM 33830T103 1,267 52,929 SH   SOLE   52,929 0 0
FLUSHING FINL CORP COM 343873105 3,304 146,210 SH   SOLE   146,210 0 0
FNCB BANCORP INC COM 302578109 799 97,116 SH   SOLE   97,116 0 0
FRANKLIN FINL SVCS CORP COM 353525108 286 8,988 SH   SOLE   8,988 0 0
FS BANCORP INC COM 30263Y104 6,968 201,321 SH   SOLE   201,321 0 0
FULTON FINL CORP PA COM 360271100 244 16,000 SH   SOLE   16,000 0 0
GLEN BURNIE BANCORP COM 377407101 395 32,550 SH   SOLE   32,550 0 0
GREAT SOUTHN BANCORP INC COM 390905107 2,355 42,965 SH   SOLE   42,965 0 0
GREAT WESTN BANCORP INC COM 391416104 701 21,400 SH   SOLE   21,400 0 0
GREENE CNTY BANCORP INC COM 394357107 496 13,685 SH   SOLE   13,685 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 544 22,636 SH   SOLE   22,636 0 0
HEARTLAND FINL USA INC COM 42234Q102 724 15,063 SH   SOLE   15,063 0 0
HERITAGE COMMERCE CORP COM 426927109 4,389 377,416 SH   SOLE   377,416 0 0
HILLTOP HOLDINGS INC COM 432748101 6,854 209,780 SH   SOLE   209,780 0 0
HMN FINL INC COM 40424G108 959 41,259 SH   SOLE   41,259 0 0
HOME BANCORP INC COM 43689E107 1,822 47,109 SH   SOLE   47,109 0 0
HOMETRUST BANCSHARES INC COM 437872104 2,565 91,685 SH   SOLE   91,685 0 0
HORIZON BANCORP INC COM 440407104 439 24,142 SH   SOLE   24,142 0 0
HOWARD BANCORP INC COM 442496105 5,460 269,223 SH   SOLE   269,223 0 0
IF BANCORP INC COM 44951J105 256 11,265 SH   SOLE   11,265 0 0
INDEPENDENT BK CORP MASS COM 453836108 231 10,749 SH   SOLE   10,749 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 7,155 171,820 SH   SOLE   171,820 0 0
INVESTORS BANCORP INC NEW COM 46146L101 1,050 69,465 SH   SOLE   69,465 0 0
LEVEL ONE BANCORP INC COM 52730D208 487 16,545 SH   SOLE   16,545 0 0
LIMESTONE BANCORP INC COM 53262L105 974 54,224 SH   SOLE   54,224 0 0
MACATAWA BK CORP COM 554225102 1,604 199,733 SH   SOLE   199,733 0 0
MAGYAR BANCORP INC COM 55977T208 135 11,799 SH   SOLE   11,799 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 627 26,149 SH   SOLE   26,149 0 0
MALVERN BANCORP INC COM 561409103 1,020 60,026 SH   SOLE   60,026 0 0
MERCANTILE BANK CORP COM 587376104 1,257 39,256 SH   SOLE   39,256 0 0
MERIDIAN BANCORP INC MD COM 58958U103 457 15,892 SH   SOLE   15,892 0 0
MID PENN BANCORP INC COM 59540G107 489 17,744 SH   SOLE   17,744 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 331 13,383 SH   SOLE   13,383 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 2,106 69,816 SH   SOLE   69,816 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 729 41,566 SH   SOLE   41,566 0 0
OLD SECOND BANCORP INC ILL COM 680277100 165 12,645 SH   SOLE   12,645 0 0
OP BANCORP COM 67109R109 4,409 428,032 SH   SOLE   428,032 0 0
ORRSTOWN FINL SVCS INC COM 687380105 260 11,115 SH   SOLE   11,115 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 6,748 732,663 SH   SOLE   732,663 0 0
PACWEST BANCORP DEL COM 695263103 3,716 82,001 SH   SOLE   82,001 0 0
PARKE BANCORP INC COM 700885106 5,009 228,716 SH   SOLE   228,716 0 0
PCB BANCORP COM 69320M109 3,710 186,354 SH   SOLE   186,354 0 0
PCSB FINL CORP COM 69324R104 201 10,905 SH   SOLE   10,905 0 0
PDL CMNTY BANCORP COM 69290X101 182 12,620 SH   SOLE   12,620 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 2,766 82,903 SH   SOLE   82,903 0 0
PEOPLES BANCORP INC COM 709789101 1,133 35,839 SH   SOLE   35,839 0 0
PEOPLES BANCORP N C INC COM 710577107 334 11,777 SH   SOLE   11,777 0 0
PLUMAS BANCORP COM 729273102 779 24,682 SH   SOLE   24,682 0 0
PROVIDENT BANCORP INC COM 74383X109 531 33,140 SH   SOLE   33,140 0 0
PROVIDENT FINL SVCS INC COM 74386T105 1,077 45,897 SH   SOLE   45,897 0 0
QCR HOLDINGS INC COM 74727A104 600 11,671 SH   SOLE   11,671 0 0
RANDOLPH BANCORP INC COM 752378109 2,084 96,583 SH   SOLE   96,583 0 0
RBB BANCORP COM 74930B105 5,284 209,614 SH   SOLE   209,614 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 5,290 1,717,422 SH   SOLE   1,717,422 0 0
RIVERVIEW FINL CORP NEW COM 76940Q105 978 74,863 SH   SOLE   74,863 0 0
SB FINL GROUP INC COM 78408D105 881 48,433 SH   SOLE   48,433 0 0
SELECT BANCORP INC NEW COM 81617L108 2,974 172,405 SH   SOLE   172,405 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605 20,530 440,000 SH Put SOLE   440,000 0 0
SEVERN BANCORP INC ANNAPOLIS COM 81811M100 271 21,685 SH   SOLE   21,685 0 0
SHORE BANCSHARES INC COM 825107105 1,721 97,053 SH   SOLE   97,053 0 0
SIERRA BANCORP COM 82620P102 2,807 115,594 SH   SOLE   115,594 0 0
SMARTFINANCIAL INC COM NEW 83190L208 3,440 133,084 SH   SOLE   133,084 0 0
SOUND FINL BANCORP INC COM 83607A100 1,597 35,535 SH   SOLE   35,535 0 0
SOUTH PLAINS FINANCIAL INC COM 83946P107 289 11,847 SH   SOLE   11,847 0 0
SPDR SER TR S&P REGL BKG 78464A698 3,860 120,000 SH Put SOLE   120,000 0 0
SPIRIT OF TEX BANCSHARES INC COM 84861D103 867 35,817 SH   SOLE   35,817 0 0
SUMMIT FINL GROUP INC COM 86606G101 264 10,782 SH   SOLE   10,782 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 1,304 65,861 SH   SOLE   65,861 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 10,111 168,463 SH   SOLE   168,463 0 0
TIMBERLAND BANCORP INC COM 887098101 1,603 55,463 SH   SOLE   55,463 0 0
TRUSTCO BK CORP N Y COM NEW 898349204 761 23,803 SH   SOLE   23,803 0 0
UMPQUA HLDGS CORP COM 904214103 1,902 93,914 SH   SOLE   93,914 0 0
UNITED BANCSHARES INC OHIO COM 909458101 367 12,258 SH   SOLE   12,258 0 0
UNITY BANCORP INC COM 913290102 479 20,479 SH   SOLE   20,479 0 0
WESBANCO INC COM 950810101 466 13,666 SH   SOLE   13,666 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 1,918 224,804 SH   SOLE   224,804 0 0
WINTRUST FINL CORP COM 97650W108 7,436 92,525 SH   SOLE   92,525 0 0
WVS FINL CORP COM 929358109 205 12,878 SH   SOLE   12,878 0 0