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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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 Capital Bancorp Common 319427100 5,928 439,420 SH   SOLE   439,420 0 0
1st Colonial Bancorp Common 319716106 4,180 433,158 SH   SOLE   433,158 0 0
1st Constitution Bancorp Common 31986N102 11,416 482,284 SH   SOLE   482,284 0 0
Alerus Financial Corporation Common 01446U103 6,215 208,000 SH   SOLE   208,000 0 0
Allegiance Bancshares, Inc. Common 01748H107 7,343 192,475 SH   SOLE   192,475 0 0
AMB Financial Corp. Common 001984103 540 26,000 SH   SOLE   26,000 0 0
American Business Bank Common 02475L105 24,799 652,594 SH   SOLE   652,594 0 0
American National Bankshares Inc. Common 027745108 119 3,600 SH   SOLE   3,600 0 0
American Riviera Bank Common 02932A106 5,155 268,500 SH   SOLE   268,500 0 0
Avidbank Holdings, Inc. Common 05368J103 10,588 465,404 SH   SOLE   465,404 0 0
Bank of Botetourt Common 063907208 1,276 42,005 SH   SOLE   42,005 0 0
Bank of Commerce Holdings Common 06424J103 3,129 206,283 SH   SOLE   206,283 0 0
Bank of Marin Bancorp Common 063425102 3,781 100,169 SH   SOLE   100,169 0 0
Bank of Princeton Common 064520109 2,718 91,011 SH   SOLE   91,011 0 0
Bank of the James Financial Group, Inc. Common 470299108 3,007 208,844 SH   SOLE   208,844 0 0
Bankwell Financial Group, Inc. Common 06654A103 7,602 260,623 SH   SOLE   260,623 0 0
Bay Community Bancorp Common 072205107 6,344 834,706 SH   SOLE   834,706 0 0
BayFirst Financial Corp. Common 32050L105 3,888 133,593 SH   SOLE   133,593 0 0
BCB Bancorp, Inc. Common 055298103 4,098 277,648 SH   SOLE   277,648 0 0
Beach Bancorp, Inc. Common 07332T100 3,375 900,000 SH   SOLE   900,000 0 0
Blue Ridge Bankshares, Inc. Common 095825105 18,840 1,071,081 SH   SOLE   1,071,081 0 0
Blueharbor Bank Common 095613105 1,775 135,982 SH   SOLE   135,982 0 0
Bridgewater Bancshares, Inc. Common 108621103 3,636 207,652 SH   SOLE   207,652 0 0
BTRS Holdings Inc. Common 11778X104 652 61,300 SH   SOLE   61,300 0 0
Business First Bancshares, Inc. Common 12326C105 5,949 254,324 SH   SOLE   254,324 0 0
Byline Bancorp, Inc. Common 124411109 17,829 725,920 SH   SOLE   725,920 0 0
California BanCorp Common 13005U101 13,555 773,259 SH   SOLE   773,259 0 0
Cambridge Bancorp Common 132152109 8,314 94,472 SH   SOLE   94,472 0 0
Capital Bancorp, Inc. Common 139737100 1,665 69,222 SH   SOLE   69,222 0 0
CapStar Financial Holdings, Inc. Common 14070T102 303 14,268 SH   SOLE   14,268 0 0
Cashmere Valley Bank Common 14756K102 6,590 92,367 SH   SOLE   92,367 0 0
CBTX, Inc. Common 12481V104 863 32,700 SH   SOLE   32,700 0 0
CCB Financial Common 19046P209 1,901 59,672 SH   SOLE   59,672 0 0
Centric Financial Corporation Common 15641J101 7,705 811,073 SH   SOLE   811,073 0 0
Century Financial Corporation Common 15652L102 2,218 88,715 SH   SOLE   88,715 0 0
Chino Commercial Bancorp Common 16957L102 2,332 167,179 SH   SOLE   167,179 0 0
Citizens Bancorp Common 172950107 1,881 111,634 SH   SOLE   111,634 0 0
Citizens Community Bancorp, Inc. Common 174903104 13,084 951,531 SH   SOLE   951,531 0 0
CNB Corporation Common 12612R105 1,220 14,348 SH   SOLE   14,348 0 0
CNB Financial Corporation Common 126128107 5,821 239,160 SH   SOLE   239,160 0 0
Coastal Carolina Bancshares, Inc. Common 190435107 2,419 251,992 SH   SOLE   251,992 0 0
CoastalSouth Bancshares, Inc. Common 19058X207 3,472 204,249 SH   SOLE   204,249 0 0
Codorus Valley Bancorp, Inc. Common 192025104 6,206 275,335 SH   SOLE   275,335 0 0
Colony Bankcorp Inc. Common 19623P101 16,097 864,500 SH   SOLE   864,500 0 0
Commencement Bancorp, Inc. Common 20051D107 4,301 322,933 SH   SOLE   322,933 0 0
Community Bancorp of Santa Maria Common 20344R103 1,321 115,348 SH   SOLE   115,348 0 0
Community Financial Corporation Common 20368X101 1,551 42,076 SH   SOLE   42,076 0 0
Community First Bancorporation Common 203916101 796 113,744 SH   SOLE   113,744 0 0
Community Heritage Financial Inc. Common 20370L103 2,090 90,874 SH   SOLE   90,874 0 0
ConnectOne Bancorp, Inc. Common 20786W107 16,872 562,204 SH   SOLE   562,204 0 0
Cornerstone Financial Corporation Common 21925G201 1,502 150,000 SH   SOLE   150,000 0 0
County Bancorp, Inc. Common 221907108 1,250 34,654 SH   SOLE   34,654 0 0
CrossFirst Bankshares, Inc. Common 22766M109 20,414 1,570,289 SH   SOLE   1,570,289 0 0
Crystal Valley Financial Common 22941P100 1,360 20,600 SH   SOLE   20,600 0 0
Dime Community Bancshares, Inc Common 25432X102 8,513 260,662 SH   SOLE   260,662 0 0
Eagle Bancorp, Inc. Common 268948106 6,487 112,810 SH   SOLE   112,810 0 0
Eagle Financial Services Inc. Common 26951R104 1,594 46,620 SH   SOLE   46,620 0 0
Enova International, Inc. Common 29357K103 6,019 174,214 SH   SOLE   174,214 0 0
Enterprise Bancorp, Inc. Common 293668109 11,462 318,821 SH   SOLE   318,821 0 0
Enterprise Financial Services Corp Common 293712105 5,861 129,432 SH   SOLE   129,432 0 0
Equity Bancshares, Inc. Common 29460X109 5,772 172,926 SH   SOLE   172,926 0 0
ES Bancshares, Inc. Common 296049109 1,833 361,445 SH   SOLE   361,445 0 0
Farmers & Merchants Bancorp Common 307795104 2,047 2,283 SH   SOLE   2,283 0 0
FB Financial Corp. Common 30257X104 7,576 176,678 SH   SOLE   176,678 0 0
Fentura Financial, Inc. Common 314645102 7,407 287,649 SH   SOLE   287,649 0 0
FineMark Holdings, Inc. Common 31788B108 29,394 864,516 SH   SOLE   864,516 0 0
Finward Bancorp Common 31812F109 2,947 71,791 SH   SOLE   71,791 0 0
First Bancshares, Inc. Common 318916103 4,110 105,978 SH   SOLE   105,978 0 0
First Bank Common 31931U102 15,682 1,112,953 SH   SOLE   1,112,953 0 0
First Business Financial Services Common 319390100 13,760 479,267 SH   SOLE   479,267 0 0
First Capital Bancshares, Inc. Common 31941G101 2,370 240,600 SH   SOLE   240,600 0 0
First Citrus Bancorporation, Inc. Common 31959T102 1,485 47,905 SH   SOLE   47,905 0 0
First Community Corporation Common 319835104 7,138 360,504 SH   SOLE   360,504 0 0
First Farmers and Merchants Corporation Common 320148109 441 12,500 SH   SOLE   12,500 0 0
First Foundation Inc. Common 32026V104 28,739 1,092,748 SH   SOLE   1,092,748 0 0
First Internet Bancorp Common 320557101 11,302 362,460 SH   SOLE   362,460 0 0
First National Corporation Common 32106V107 5,132 223,120 SH   SOLE   223,120 0 0
First Northern Community Bancorp Common 335925103 10,474 956,489 SH   SOLE   956,489 0 0
First Reliance Bancshares, Inc. Common 33615Q100 8,510 826,166 SH   SOLE   826,166 0 0
First Southern Bank Common 33650R104 1,766 196,250 SH   SOLE   196,250 0 0
First Virginia Community Bank Common 36120Q101 3,692 184,606 SH   SOLE   184,606 0 0
First Western Financial, Inc. Common 33751L105 20,481 709,917 SH   SOLE   709,917 0 0
Five Star Bancorp Common 33830T103 4,190 175,000 SH   SOLE   175,000 0 0
Foresight Financial Group, Inc. Common 345526107 5,348 167,134 SH   SOLE   167,134 0 0
Franklin Financial Services Corp. Common 353525108 2,694 84,796 SH   SOLE   84,796 0 0
Galaxy Digital Common G37092106 3,245 198,810 SH   SOLE   198,810 0 0
Grand River Commerce, Inc. Common 386441109 3,633 497,738 SH   SOLE   497,738 0 0
GrandSouth Bancorporation Common 386627301 2,700 117,885 SH   SOLE   117,885 0 0
HBT Financial, Inc. Common 404111106 19,168 1,232,637 SH   SOLE   1,232,637 0 0
Heritage Commerce Corp Common 426927109 16,248 1,397,054 SH   SOLE   1,397,054 0 0
Heritage Southeast Bancorporation, Inc. Common 42727V105 36 1,401 SH   SOLE   1,401 0 0
Howard Bancorp, Inc. Common 442496105 366 18,037 SH   SOLE   18,037 0 0
Investar Holding Corporation Common 46134L105 12,834 582,854 SH   SOLE   582,854 0 0
Lakeland Bancorp, Inc. Common 511637100 13,765 780,756 SH   SOLE   780,756 0 0
Ledyard Financial Group, Inc. Common 523338101 434 17,374 SH   SOLE   17,374 0 0
LendingClub Corp. Common 52603A208 2,741 97,053 SH   SOLE   97,053 0 0
Level One Bancorp, Inc. Common 52730D208 18,473 627,922 SH   SOLE   627,922 0 0
Lewis & Clark Bancorp Common 52757L109 3,087 90,388 SH   SOLE   90,388 0 0
Limestone Bancorp, Inc. Common 53262L105 7,999 445,154 SH   SOLE   445,154 0 0
Live Oak Bancshares Common 53803X105 560 8,800 SH   SOLE   8,800 0 0
MainStreet Bancshares, Inc. Common 56064Y100 15,265 636,295 SH   SOLE   636,295 0 0
Malvern Bancorp, Inc. Common 561409103 10,385 611,249 SH   SOLE   611,249 0 0
McHenry Bancorp, Inc. Common 580683100 1,949 60,000 SH   SOLE   60,000 0 0
Mercantile Bank Corporation Common 587376104 14,924 465,945 SH   SOLE   465,945 0 0
Merchants Bancorp Common 58844R108 8,146 206,378 SH   SOLE   206,378 0 0
Merchants Financial Group, Inc. Common 588538108 7,267 99,551 SH   SOLE   99,551 0 0
Meridian Bank Common 58958P104 12,448 433,271 SH   SOLE   433,271 0 0
Meridian Interstate Bancorp Common 58958U103 2,397 115,475 SH   SOLE   115,475 0 0
Metropolitan Bank Holding Corp. Common 591774104 13,746 163,061 SH   SOLE   163,061 0 0
Mid Penn Bank Common 59540G107 5,735 208,172 SH   SOLE   208,172 0 0
Mission Valley Bancorp Common 60520E104 3,773 250,037 SH   SOLE   250,037 0 0
Mountain Commerce Bancorp Common 624004107 10,172 366,420 SH   SOLE   366,420 0 0
MPB BHC, Inc. Common 55317L105 3,428 207,767 SH   SOLE   207,767 0 0
MVB Financial Corp. Common 553810102 3,672 85,733 SH   SOLE   85,733 0 0
Northway Financial, Inc. Common 667270201 5,837 180,992 SH   SOLE   180,992 0 0
Oak Ridge Financial Services, Inc. Common 671768109 2,666 151,280 SH   SOLE   151,280 0 0
Oak Valley Bancorp Common 671807105 5,890 335,830 SH   SOLE   335,830 0 0
Old Second Bancorp, Inc. Common 680277100 21,356 1,635,228 SH   SOLE   1,635,228 0 0
Orange County Bancorp Common 68417L107 14,110 401,486 SH   SOLE   401,486 0 0
Oregon Pacific Bancorp Common 686040205 4,750 677,586 SH   SOLE   677,586 0 0
Origin Bancorp Inc. Common 68621T102 9,636 227,542 SH   SOLE   227,542 0 0
Pacific Financial Corporation Common 694275108 7,400 627,096 SH   SOLE   627,096 0 0
Pacific Mercantile Bancorp Common 694552100 12,127 1,316,712 SH   SOLE   1,316,712 0 0
Pacific West Bank Common 69506W202 2,619 185,715 SH   SOLE   185,715 0 0
Peapack-Gladstone Financial Corporation Common 704699107 23,515 704,890 SH   SOLE   704,890 0 0
Peoples Bancorp Common 70979X107 3,242 14,737 SH   SOLE   14,737 0 0
Pilot Bancshares, Inc. Common 721530103 5,163 846,429 SH   SOLE   846,429 0 0
Pinnacle Bancshares, Inc. Common 722903101 1,238 36,367 SH   SOLE   36,367 0 0
Pinnacle Bank Common 72346K107 4,776 360,469 SH   SOLE   360,469 0 0
Pinnacle Bankshares Corporation Common 72345E102 1,885 80,244 SH   SOLE   80,244 0 0
Pioneer Bancshares, Inc Common 72357G102 2,910 97,000 SH   SOLE   97,000 0 0
Potomac Bancshares, Inc. Common 737643106 886 51,492 SH   SOLE   51,492 0 0
Prime Meridian Holding Company Common 74164R107 4,486 197,176 SH   SOLE   197,176 0 0
Primis Financial Corporation Common 74167B109 20,438 1,413,443 SH   SOLE   1,413,443 0 0
Private Bancorp of America, Inc. Common 74274F100 9,273 374,654 SH   SOLE   374,654 0 0
Professional Holding Corp. Common 743139107 2,820 150,000 SH   SOLE   150,000 0 0
Provident Financial Services, Inc. Common 74386T105 5,098 217,212 SH   SOLE   217,212 0 0
PSB Holdings, Inc. Common 69360N108 6,005 240,663 SH   SOLE   240,663 0 0
QNB Corp. Common 74726N107 5,682 152,774 SH   SOLE   152,774 0 0
Red River Bancshares, Inc. Common 75686R202 1,662 33,334 SH   SOLE   33,334 0 0
Reliant Bancorp, Inc. Common 75956B101 9,444 298,961 SH   SOLE   298,961 0 0
Republic First Bancorp, Inc. Common 760416107 5,279 1,713,988 SH   SOLE   1,713,988 0 0
River City Bank Common 76803X106 7,032 24,867 SH   SOLE   24,867 0 0
Riverview Bancorp, Inc. Common 769397100 1,114 153,288 SH   SOLE   153,288 0 0
Riverview Financial Corporation Common 76940Q105 7,049 539,327 SH   SOLE   539,327 0 0
Salisbury Bancorp, Inc. Common 795226109 2,211 43,336 SH   SOLE   43,336 0 0
Sandy Spring Bancorp Inc. Common 800363103 5,024 109,639 SH   SOLE   109,639 0 0
Santa Cruz County Bank Common 801827106 14,825 312,204 SH   SOLE   312,204 0 0
Seacoast Banking Corporation of Florida Common 811707801 2,505 74,095 SH   SOLE   74,095 0 0
Severn Bancorp, Inc. Common 81811M100 2,880 230,000 SH   SOLE   230,000 0 0
Sevier County Bancshares, Inc. Common 81817P206 3,343 217,675 SH   SOLE   217,675 0 0
Shore Bancshares, Inc. Common 825107105 5,062 285,479 SH   SOLE   285,479 0 0
Sierra Bancorp Common 82620P102 3,987 164,190 SH   SOLE   164,190 0 0
Signature Bank Common 82669G104 2,505 9,200 SH   SOLE   9,200 0 0
Silvercrest Asset Management Group Inc. Common 828359109 4,286 275,095 SH   SOLE   275,095 0 0
Silvergate Capital Corporation Common 82837P408 1,496 12,950 SH   SOLE   12,950 0 0
SmartFinancial, Inc. Common 83190L208 15,779 610,409 SH   SOLE   610,409 0 0
South Atlantic Bancshares, Inc. Common 83636T104 6,079 423,608 SH   SOLE   423,608 0 0
South Plains Financial, Inc. Common 83946P107 5,118 209,919 SH   SOLE   209,919 0 0
Southern BancShares (N.C.), Inc. Common 842243107 11,587 2,207 SH   SOLE   2,207 0 0
Southern California Bancorp Common 84252A106 11,527 732,351 SH   SOLE   732,351 0 0
Southern First Bancshares, Inc. Common 842873101 21,030 393,086 SH   SOLE   393,086 0 0
Southern States Bancshares, Inc. Common 843878307 10,148 532,143 SH   SOLE   532,143 0 0
SouthPoint Bancshares, Inc. Common 844647107 3,407 104,826 SH   SOLE   104,826 0 0
Spirit of Texas Bancshares, Inc. Common 84861D103 15,306 632,481 SH   SOLE   632,481 0 0
Sterling Bancorp, Inc. Common 85917W102 2,081 403,245 SH   SOLE   403,245 0 0
Summit Bank Group, Inc. Common 86603R100 265 17,375 SH   SOLE   17,375 0 0
Summit State Bank Common 866264203 3,705 187,137 SH   SOLE   187,137 0 0
Suncrest Bank Common 86723G109 11,501 707,771 SH   SOLE   707,771 0 0
Surrey Bancorp Common 86888W105 950 63,785 SH   SOLE   63,785 0 0
SVB Financial Group Common 78486Q101 12,055 18,635 SH   SOLE   18,635 0 0
Synovus Financial Corp. Common 87161C501 4,438 101,126 SH   SOLE   101,126 0 0
Texas Capital Bancshares, Inc. Common 88224Q107 8,403 140,000 SH   SOLE   140,000 0 0
TGR Financial, Inc. Common 87243P108 7,163 450,195 SH   SOLE   450,195 0 0
The Bancorp, Inc. Common 05969A105 527 20,700 SH   SOLE   20,700 0 0
Town and Country Financial Corporation Common 892039108 285 10,914 SH   SOLE   10,914 0 0
Traditions Bancorp, Inc. Common 89269L102 4,908 228,258 SH   SOLE   228,258 0 0
Tri City Bankshares Corporation Common 895364107 3,503 172,141 SH   SOLE   172,141 0 0
TriState Capital Holdings, Inc. Common 89678F100 12,960 612,776 SH   SOLE   612,776 0 0
Triumph Bancorp, Inc. Common 89679E300 33,185 331,418 SH   SOLE   331,418 0 0
Two Rivers Financial Group, Inc. Common 90206L106 4,210 102,691 SH   SOLE   102,691 0 0
U.S. Century Bank Common 90343D108 4,575 375,000 SH   SOLE   375,000 0 0
United Bancorporation of Alabama, Inc. Common 90944R100 3,447 111,200 SH   SOLE   111,200 0 0
United Bankshares Common 909907107 586 16,118 SH   SOLE   16,118 0 0
Unity Bancorp, Inc. Common 913290102 18,690 798,720 SH   SOLE   798,720 0 0
Veritex Holdings, Inc. Common 923451108 3,012 76,534 SH   SOLE   76,534 0 0
Village Bank and Trust Financial Corp. Common 92705T200 1,181 22,838 SH   SOLE   22,838 0 0
Virginia National Bankshares Corp. Common 928031103 1,748 48,357 SH   SOLE   48,357 0 0
Voyager Digital Common 92919V108 2,956 295,565 SH   SOLE   295,565 0 0
W.T.B. Financial Corporation Common 929334209 8,017 21,259 SH   SOLE   21,259 0 0
WesBanco, Inc. Common 950810101 577 16,934 SH   SOLE   16,934 0 0
West Suburban Bancorp, Inc. Common 956152409 6,092 7,503 SH   SOLE   7,503 0 0
Westbury Bancorp, Inc. Common 95727P106 3,130 108,131 SH   SOLE   108,131 0 0
WEX Inc. Common 96208T104 867 4,920 SH   SOLE   4,920 0 0
White River Bancshares Company Common 96445A108 3,537 45,235 SH   SOLE   45,235 0 0