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
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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
ACADIA RLTY TR COM SH BEN INT 004239109 BBG000BJGD54 693,294 40,806 SH   SOLE   40,806 0 0
AERCAP HOLDINGS NV SHS N00985106 BBG000Q9FZL4 1,414,978 19,039 SH   SOLE   19,039 0 0
AGNC INVT CORP COM 00123Q104 BBG000TJ8XZ7 2,705,264 275,766 SH   SOLE   275,766 0 0
ALLSTATE CORP COM 020002101 BBG000BVMGF2 2,581,651 18,443 SH   SOLE   18,443 0 0
AMERICOLD REALTY TRUST INC COM 03064D108 BBG000QF05R6 1,803,547 59,582 SH   SOLE   59,582 0 0
AMERIS BANCORP COM 03076K108 BBG000CDY3H5 27,863,611 525,233 SH   SOLE   525,233 0 0
ARCH CAP GROUP LTD ORD G0450A105 BBG000HXNN20 1,383,130 18,623 SH   SOLE   18,623 0 0
ASSURED GUARANTY LTD COM G0585R106 BBG000CQB185 687,987 9,194 SH   SOLE   9,194 0 0
AVALONBAY CMNTYS INC COM 053484101 BBG000BLPBL5 1,724,109 9,209 SH   SOLE   9,209 0 0
BANC OF CALIFORNIA INC COM 05990K106 BBG000F7VG25 52,427,457 3,903,757 SH   SOLE   3,903,757 0 0
BANNER CORP COM NEW 06652V208 BBG000MVZH28 16,050,057 299,665 SH   SOLE   299,665 0 0
BAYCOM CORP COM 07272M107 BBG00FWKRBS2 1,529,481 64,836 SH   SOLE   64,836 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 BBG000BDLQJ7 2,012,735 59,566 SH   SOLE   59,566 0 0
BLUE OWL CAPITAL INC COM CL A 09581B103 BBG00XV417R8 1,963,522 131,780 SH   SOLE   131,780 0 0
BROWN & BROWN INC COM 115236101 BBG000BWSGF4 1,105,476 15,546 SH   SOLE   15,546 0 0
CAPITAL BANCORP INC MD COM 139737100 BBG000G2Z909 658,458 27,209 SH   SOLE   27,209 0 0
CINCINNATI FINL CORP COM 172062101 BBG000BFPK65 1,985,294 19,189 SH   SOLE   19,189 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 BBG000NFKDB7 11,143,166 951,594 SH   SOLE   951,594 0 0
CNB FINL CORP PA COM 126128107 BBG000BKPZC4 3,820,105 169,106 SH   SOLE   169,106 0 0
CODORUS VY BANCORP INC COM 192025104 BBG000BRYD38 21,976,867 855,131 SH   SOLE   855,131 0 0
COLUMBIA BKG SYS INC COM 197236102 BBG000CTGXS2 3,760,386 140,944 SH   SOLE   140,944 0 0
COMMUNITY WEST BANCSHARES COM 204157101 BBG000JF5K69 1,623,252 93,344 SH   SOLE   93,344 0 0
CUSHMAN WAKEFIELD PLC SHS G2717B108 BBG00L7XVND4 415,249 38,449 SH   SOLE   38,449 0 0
EASTERN BANKSHARES INC COM 27627N105 BBG00W9KWXC4 6,250,641 440,186 SH   SOLE   440,186 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 BBG000QKJS40 26,454,136 780,358 SH   SOLE   780,358 0 0
ESSA BANCORP INC COM 29667D104 BBG000R3PVY0 18,858,680 941,992 SH   SOLE   941,992 0 0
EVANS BANCORP INC COM NEW 29911Q208 BBG000CB1FM2 17,033,546 540,233 SH   SOLE   540,233 0 0
FEDERATED HERMES INC CL B 314211103 BBG000BP0929 349,097 10,310 SH   SOLE   10,310 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 BBG006N7S6K9 2,256,360 44,225 SH   SOLE   44,225 0 0
FIRST BANCSHARES INC MS COM 318916103 BBG000BHWFN5 40,499,568 1,380,824 SH   SOLE   1,380,824 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 BBG000FPK736 6,627,130 394,472 SH   SOLE   394,472 0 0
FIRST WESTN FINL INC COM 33751L105 BBG000BK7L26 7,322,485 369,263 SH   SOLE   369,263 0 0
FS KKR CAP CORP COM 302635206 BBG001YCZP63 1,902,282 95,257 SH   SOLE   95,257 0 0
FVCBANKCORP INC COM 36120Q101 BBG000DS5RF2 18,230,059 1,283,807 SH   SOLE   1,283,807 0 0
GALLAGHER ARTHUR J & CO COM 363576109 BBG000BBHXQ3 1,430,237 6,360 SH   SOLE   6,360 0 0
GOOSEHEAD INS INC COM CL A 38267D109 BBG00KHHBMC5 1,640,767 21,646 SH   SOLE   21,646 0 0
HAWTHORN BANCSHARES INC COM 420476103 BBG000BHQP32 3,078,903 121,360 SH   SOLE   121,360 0 0
HCI GROUP INC COM 40416E103 BBG000F4DVC8 3,351,178 38,343 SH   SOLE   38,343 0 0
HEARTLAND FINL USA INC COM 42234Q102 BBG000GKFKW1 1,862,899 49,532 SH   SOLE   49,532 0 0
HERCULES CAPITAL INC COM 427096508 BBG000C2R8K2 2,339,668 140,352 SH   SOLE   140,352 0 0
HERITAGE COMM CORP COM 426927109 BBG000C48437 17,017,869 1,715,511 SH   SOLE   1,715,511 0 0
HMN FINL INC COM 40424G108 BBG000D93RD8 6,519,419 283,453 SH   SOLE   283,453 0 0
HOME BANCORP INC COM 43689E107 BBG000J31X35 33,108,333 788,106 SH   SOLE   788,106 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 BBG000QSM8F1 225,350 14,855 SH   SOLE   14,855 0 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5W70 45,204,387 1,679,212 SH   SOLE   1,679,212 0 0
HUNTINGTON BANCSHARES INC COM 446150104 BBG000BKWSR6 2,528,227 198,760 SH   SOLE   198,760 0 0
INDEPENDENT BANK GROUP INC COM 45384B106 BBG003981NS4 49,055,596 964,143 SH   SOLE   964,143 0 0
INDEPENDENT BK CORP MICH COM NEW 453838609 BBG000BLN9N0 33,530,881 1,288,658 SH   SOLE   1,288,658 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 BBG000C1FB75 2,682,004 20,883 SH   SOLE   20,883 0 0
JOHN MARSHALL BANCORP INC COM 47805L101 BBG000LM3ZW1 2,211,805 98,041 SH   SOLE   98,041 0 0
JONES LANG LASALLE INC COM 48020Q107 BBG000C2L2L0 2,924,085 15,482 SH   SOLE   15,482 0 0
JPMORGAN CHASE & CO COM 46625H100 BBG000DMBXR2 1,857,832 10,922 SH   SOLE   10,922 0 0
KEMPER CORP COM 488401100 BBG000H3GDJ8 2,073,147 42,596 SH   SOLE   42,596 0 0
KINSALE CAP GROUP INC COM 49714P108 BBG00D8JD9Z9 1,772,679 5,293 SH   SOLE   5,293 0 0
LINKBANCORP INC COM 53578P105 BBG00M69LH40 23,397,537 2,935,701 SH   SOLE   2,935,701 0 0
MASTERCARD INCORPORATED CL A 57636Q104 BBG000F1ZSQ2 1,069,261 2,507 SH   SOLE   2,507 0 0
MERCHANTS BANCORP IND COM 58844R108 BBG000RMQZS5 1,878,757 44,123 SH   SOLE   44,123 0 0
MERITAGE HOMES CORP COM 59001A102 BBG000F4F1N0 1,892,335 10,863 SH   SOLE   10,863 0 0
MIDLAND STATES BANCORP INC COM 597742105 BBG000G2ZK31 34,976,616 1,269,108 SH   SOLE   1,269,108 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 BBG000BQVV88 3,662,074 136,086 SH   SOLE   136,086 0 0
MR COOPER GROUP INC COM 62482R107 BBG002V098F7 2,870,424 44,079 SH   SOLE   44,079 0 0
NASDAQ INC COM 631103108 BBG000F5VVB6 711,401 12,236 SH   SOLE   12,236 0 0
NATIONAL BK HLDGS CORP CL A 633707104 BBG003D8Y833 6,027,904 162,084 SH   SOLE   162,084 0 0
NMI HLDGS INC CL A 629209305 BBG005DLMMZ6 2,170,647 73,135 SH   SOLE   73,135 0 0
OLD NATL BANCORP IND COM 680033107 BBG000KFW1C2 5,636,463 333,716 SH   SOLE   333,716 0 0
OLD POINT FINL CORP COM 680194107 BBG000BSBQ78 6,455,069 360,015 SH   SOLE   360,015 0 0
OLD SECOND BANCORP INC ILL COM 680277100 BBG000BLFSZ4 40,880,874 2,647,725 SH   SOLE   2,647,725 0 0
P10 INC COM CL A 69376K106 BBG012QFRJQ3 624,514 61,107 SH   SOLE   61,107 0 0
PAYLOCITY HLDG CORP COM 70438V106 BBG006598YS8 470,317 2,853 SH   SOLE   2,853 0 0
PEOPLES BANCORP INC COM 709789101 BBG000BDPPR6 1,086,160 32,173 SH   SOLE   32,173 0 0
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201 BBG011RJSSB1 1,402,364 38,442 SH   SOLE   38,442 0 0
PIONEER BANCORP INC MD COM 723561106 BBG00PFB4RR0 16,089,664 1,607,359 SH   SOLE   1,607,359 0 0
PREMIER FINANCIAL CORP COM 74052F108 BBG000BHZ4J2 9,855,623 408,947 SH   SOLE   408,947 0 0
PROGRESSIVE CORP COM 743315103 BBG000BR37X2 1,538,326 9,658 SH   SOLE   9,658 0 0
PROLOGIS INC. COM 74340W103 BBG000B9Z0J8 1,123,452 8,428 SH   SOLE   8,428 0 0
PULTE GROUP INC COM 745867101 BBG000BR54L0 1,618,799 15,683 SH   SOLE   15,683 0 0
QCR HOLDINGS INC COM 74727A104 BBG000BYZSM8 31,998,946 548,021 SH   SOLE   548,021 0 0
RBB BANCORP COM 74930B105 BBG002537TC9 32,208,369 1,691,616 SH   SOLE   1,691,616 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 BBG000BDLCQ0 3,717,704 22,980 SH   SOLE   22,980 0 0
RICHMOND MUT BANCORPORATION COM 76525P100 BBG000KWLYL5 1,538,714 133,685 SH   SOLE   133,685 0 0
RIVERVIEW BANCORP INC COM 769397100 BBG000BGZL88 13,910,842 2,173,569 SH   SOLE   2,173,569 0 0
RUNWAY GROWTH FINANCE CORP COM 78163D100 BBG012QFW3F4 1,230,589 97,511 SH   SOLE   97,511 0 0
SB FINL GROUP INC COM 78408D105 BBG000BJQTT2 5,677,519 373,521 SH   SOLE   373,521 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 BBG000KK3464 3,735,261 131,246 SH   SOLE   131,246 0 0
SHORE BANCSHARES INC COM 825107105 BBG000BS3PL3 2,175,134 152,641 SH   SOLE   152,641 0 0
SIRIUSPOINT LTD COM G8192H106 BBG004TYNXX1 374,054 32,246 SH   SOLE   32,246 0 0
SOUND FINL BANCORP INC COM 83607A100 BBG000BD3F92 7,939,386 203,574 SH   SOLE   203,574 0 0
SOUTHERN CALIF BANCORP COM 84252A106 BBG000QJ8KD2 9,704,254 559,323 SH   SOLE   559,323 0 0
SOUTHERN FIRST BANCSHARES COM 842873101 BBG000C0C4Q5 29,346,434 791,009 SH   SOLE   791,009 0 0
SOUTHERN MO BANCORP INC COM 843380106 BBG000C3ZNH2 32,475,215 608,264 SH   SOLE   608,264 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 BBG000RJ2J04 3,538,330 57,901 SH   SOLE   57,901 0 0
STAG INDL INC COM 85254J102 BBG000BGLFP7 1,654,534 42,143 SH   SOLE   42,143 0 0
STATE STR CORP COM 857477103 BBG000BKFBD7 868,714 11,215 SH   SOLE   11,215 0 0
STELLAR BANCORP INC COM 858927106 BBG00HZ69KP9 6,864,230 246,560 SH   SOLE   246,560 0 0
STERLING BANCORP INC COM 85917W102 BBG00328QCC5 23,305,896 4,039,150 SH   SOLE   4,039,150 0 0
UNITED SEC BANCSHARES CALIF COM 911460103 BBG000G81WK0 5,172,419 615,032 SH   SOLE   615,032 0 0
URBAN EDGE PPTYS COM 91704F104 BBG006BFYQN0 901,696 49,273 SH   SOLE   49,273 0 0
VERITEX HLDGS INC COM 923451108 BBG000QG9SX8 12,330,936 529,907 SH   SOLE   529,907 0 0
VICTORY CAP HLDGS INC COM CL A 92645B103 BBG0074JPF34 348,188 10,110 SH   SOLE   10,110 0 0
WELLTOWER INC COM 95040Q104 BBG000BKY1G5 1,600,788 17,753 SH   SOLE   17,753 0 0
WESTERN ALLIANCE BANCORP COM 957638109 BBG000Q1KFH4 36,257,461 551,109 SH   SOLE   551,109 0 0
WINTRUST FINL CORP COM 97650W108 BBG000HD3DW5 40,497,062 436,626 SH   SOLE   436,626 0 0