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 6,630 427,770 SH   SOLE   427,770 0 0
1st Colonial Bancorp Common 319716106 3,874 335,444 SH   SOLE   335,444 0 0
Alerus Financial Corporation Common 01446U103 5,749 208,000 SH   SOLE   208,000 0 0
Allegiance Bancshares, Inc. Common 01748H107 8,600 192,475 SH   SOLE   192,475 0 0
AMB Financial Corp. Common 001984103 640 24,600 SH   SOLE   24,600 0 0
American Business Bank Common 02475L105 25,281 599,363 SH   SOLE   599,363 0 0
American National Bankshares Inc. Common 027745108 1,473 39,092 SH   SOLE   39,092 0 0
American Riviera Bancorp Common 02933K103 6,837 332,224 SH   SOLE   332,224 0 0
Avidbank Holdings, Inc. Common 05368J103 11,832 457,725 SH   SOLE   457,725 0 0
Banc of California, Inc. Common 05990K106 13,405 692,412 SH   SOLE   692,412 0 0
Bank of Botetourt Common 063907208 1,405 49,824 SH   SOLE   49,824 0 0
Bank of Marin Bancorp Common 063425102 735 20,969 SH   SOLE   20,969 0 0
Bank of Princeton Common 064520109 7,012 243,052 SH   SOLE   243,052 0 0
Bank of the James Financial Group, Inc. Common 470299108 2,863 192,296 SH   SOLE   192,296 0 0
Bank7 Corp Common 06652N107 9,086 385,000 SH   SOLE   385,000 0 0
Bankwell Financial Group, Inc. Common 06654A103 9,493 280,623 SH   SOLE   280,623 0 0
Bay Community Bancorp Common 072205107 6,302 834,706 SH   SOLE   834,706 0 0
BayFirst Financial Corp. Common 07279B104 3,079 133,593 SH   SOLE   133,593 0 0
BCB Bancorp, Inc. Common 055298103 3,919 214,748 SH   SOLE   214,748 0 0
Beach Bancorp, Inc. Common 07332T100 3,375 900,000 SH   SOLE   900,000 0 0
Blue Ridge Bankshares, Inc. Common 095825105 17,859 1,177,277 SH   SOLE   1,177,277 0 0
Blueharbor Bank Common 095613105 2,198 156,430 SH   SOLE   156,430 0 0
Bridgewater Bancshares, Inc. Common 108621103 3,297 197,652 SH   SOLE   197,652 0 0
BTRS Holdings Inc. Common 11778X104 783 104,645 SH   SOLE   104,645 0 0
Business First Bancshares, Inc. Common 12326C105 5,547 228,003 SH   SOLE   228,003 0 0
Byline Bancorp, Inc. Common 124411109 16,540 619,923 SH   SOLE   619,923 0 0
California BanCorp Common 13005U101 16,819 730,950 SH   SOLE   730,950 0 0
Cambridge Bancorp Common 132152109 9,550 112,351 SH   SOLE   112,351 0 0
Capital Bancorp, Inc. Common 139737100 1,123 49,122 SH   SOLE   49,122 0 0
CapStar Financial Holdings, Inc. Common 14070T102 1,112 52,770 SH   SOLE   52,770 0 0
Cashmere Valley Bank Common 14756K102 5,131 73,567 SH   SOLE   73,567 0 0
CBTX, Inc. Common 12481V104 1,014 32,700 SH   SOLE   32,700 0 0
CCB Financial Common 19046P209 4,205 91,922 SH   SOLE   91,922 0 0
Centric Financial Corporation Common 15641J101 8,120 816,073 SH   SOLE   816,073 0 0
Century Financial Corporation Common 15652L102 2,013 68,434 SH   SOLE   68,434 0 0
Chino Commercial Bancorp Common 16957L102 2,123 167,179 SH   SOLE   167,179 0 0
Citizens Bancorp Common 172950107 1,814 111,634 SH   SOLE   111,634 0 0
Citizens Community Bancorp, Inc. Common 174903104 13,692 906,129 SH   SOLE   906,129 0 0
CNB Corporation Common 12612R105 1,076 14,348 SH   SOLE   14,348 0 0
CNB Financial Corporation Common 126128107 7,763 294,957 SH   SOLE   294,957 0 0
Coastal Carolina Bancshares, Inc. Common 190435107 2,772 251,992 SH   SOLE   251,992 0 0
CoastalSouth Bancshares, Inc. Common 19058X207 3,676 204,249 SH   SOLE   204,249 0 0
Codorus Valley Bancorp, Inc. Common 192025104 5,331 242,321 SH   SOLE   242,321 0 0
Colony Bankcorp Inc. Common 19623P101 18,198 974,744 SH   SOLE   974,744 0 0
Commencement Bancorp, Inc. Common 20051D107 3,670 274,060 SH   SOLE   274,060 0 0
Community Bancorp of Santa Maria Common 20344R103 1,224 106,443 SH   SOLE   106,443 0 0
Community Financial Corporation Common 20368X101 1,081 26,732 SH   SOLE   26,732 0 0
Community First Bancorporation Common 203916101 919 113,744 SH   SOLE   113,744 0 0
Community Heritage Financial Inc. Common 20370L103 1,601 64,558 SH   SOLE   64,558 0 0
ConnectOne Bancorp, Inc. Common 20786W107 17,996 562,204 SH   SOLE   562,204 0 0
Cornerstone Financial Corporation Common 21925G201 1,593 150,000 SH   SOLE   150,000 0 0
CrossFirst Bankshares, Inc. Common 22766M109 25,063 1,590,289 SH   SOLE   1,590,289 0 0
Crystal Valley Financial Common 22941P100 1,380 20,600 SH   SOLE   20,600 0 0
Dime Community Bancshares, Inc Common 25432X102 7,027 203,277 SH   SOLE   203,277 0 0
Eagle Bancorp, Inc. Common 268948106 331 5,805 SH   SOLE   5,805 0 0
Eagle Financial Services Inc. Common 26951R104 1,653 46,620 SH   SOLE   46,620 0 0
Enova International, Inc. Common 29357K103 6,615 174,214 SH   SOLE   174,214 0 0
Enterprise Bancorp, Inc. Common 293668109 12,791 318,821 SH   SOLE   318,821 0 0
Enterprise Financial Services Corp Common 293712105 681 14,384 SH   SOLE   14,384 0 0
Equity Bancshares, Inc. Common 29460X109 5,587 172,926 SH   SOLE   172,926 0 0
ES Bancshares, Inc. Common 296049109 2,020 374,045 SH   SOLE   374,045 0 0
Farmers & Merchants Bancorp Common 307795104 2,169 2,283 SH   SOLE   2,283 0 0
FB Financial Corp. Common 30257X104 6,382 143,678 SH   SOLE   143,678 0 0
Fentura Financial, Inc. Common 314645102 8,318 298,149 SH   SOLE   298,149 0 0
FineMark Holdings, Inc. Common 31788B108 27,739 834,244 SH   SOLE   834,244 0 0
Finward Bancorp Common 31812F109 210 4,543 SH   SOLE   4,543 0 0
First Bancshares, Inc. Common 318916103 3,237 96,179 SH   SOLE   96,179 0 0
First Bank Common 31931U102 16,246 1,142,453 SH   SOLE   1,142,453 0 0
First Business Financial Services Common 319390100 16,893 514,871 SH   SOLE   514,871 0 0
First Capital Bancshares, Inc. Common 31941G101 2,141 240,600 SH   SOLE   240,600 0 0
First Citrus Bancorporation, Inc. Common 31959T102 1,741 54,401 SH   SOLE   54,401 0 0
First Community Corporation Common 319835104 8,491 400,522 SH   SOLE   400,522 0 0
First Farmers and Merchants Corporation Common 320148109 557 16,488 SH   SOLE   16,488 0 0
First Foundation Inc. Common 32026V104 28,287 1,164,567 SH   SOLE   1,164,567 0 0
First Internet Bancorp Common 320557101 15,589 362,460 SH   SOLE   362,460 0 0
First National Corporation Common 32106V107 4,686 223,120 SH   SOLE   223,120 0 0
First Northern Community Bancorp Common 335925103 8,661 849,116 SH   SOLE   849,116 0 0
First Reliance Bancshares, Inc. Common 33615Q100 7,256 736,627 SH   SOLE   736,627 0 0
First Southern Bank Common 33650R104 1,884 196,250 SH   SOLE   196,250 0 0
First Virginia Community Bank Common 36120Q101 4,495 216,606 SH   SOLE   216,606 0 0
First Western Financial, Inc. Common 33751L105 23,140 740,253 SH   SOLE   740,253 0 0
Five Star Bancorp Common 33830T103 4,953 175,000 SH   SOLE   175,000 0 0
Foresight Financial Group, Inc. Common 345526107 5,480 161,181 SH   SOLE   161,181 0 0
Franklin Financial Services Corp. Common 353525108 2,860 84,796 SH   SOLE   84,796 0 0
Galaxy Digital Common G37092106 3,750 219,950 SH   SOLE   219,950 0 0
Grand River Commerce, Inc. Common 386441109 3,484 497,738 SH   SOLE   497,738 0 0
GrandSouth Bancorporation Common 386627301 3,360 117,885 SH   SOLE   117,885 0 0
HBT Financial, Inc. Common 404111106 21,924 1,205,937 SH   SOLE   1,205,937 0 0
Heritage Commerce Corp Common 426927109 12,567 1,117,054 SH   SOLE   1,117,054 0 0
i3 Verticals, Inc. Common 46571Y107 983 35,300 SH   SOLE   35,300 0 0
Investar Holding Corporation Common 46134L105 10,933 572,699 SH   SOLE   572,699 0 0
John Marshall Bank Common 47805L101 293 13,400 SH   SOLE   13,400 0 0
Lakeland Bancorp, Inc. Common 511637100 22,933 1,373,241 SH   SOLE   1,373,241 0 0
Ledyard Financial Group, Inc. Common 523338101 424 17,374 SH   SOLE   17,374 0 0
LendingClub Corp. Common 52603A208 1,295 82,053 SH   SOLE   82,053 0 0
Level One Bancorp, Inc. Common 52730D208 5,482 137,279 SH   SOLE   137,279 0 0
Lewis & Clark Bancorp Common 52757L109 967 24,788 SH   SOLE   24,788 0 0
Limestone Bancorp, Inc. Common 53262L105 8,832 422,577 SH   SOLE   422,577 0 0
Live Oak Bancshares Common 53803X105 649 12,750 SH   SOLE   12,750 0 0
MainStreet Bancshares, Inc. Common 56064Y100 14,381 591,579 SH   SOLE   591,579 0 0
Malaga Financial Corporation Common 561046103 2,275 90,100 SH   SOLE   90,100 0 0
Malvern Bancorp, Inc. Common 561409103 7,893 489,959 SH   SOLE   489,959 0 0
McHenry Bancorp, Inc. Common 580683100 2,070 60,000 SH   SOLE   60,000 0 0
Mercantile Bank Corporation Common 587376104 17,361 490,158 SH   SOLE   490,158 0 0
Merchants Bancorp Common 58844R108 8,147 297,566 SH   SOLE   297,566 0 0
Merchants Financial Group, Inc. Common 588538108 8,564 107,728 SH   SOLE   107,728 0 0
Meridian Bank Common 58958P104 13,874 432,344 SH   SOLE   432,344 0 0
Metropolitan Bank Holding Corp. Common 591774104 16,595 163,061 SH   SOLE   163,061 0 0
Mid Penn Bank Common 59540G107 12,443 464,127 SH   SOLE   464,127 0 0
Mission Valley Bancorp Common 60520E104 3,548 234,190 SH   SOLE   234,190 0 0
Mountain Commerce Bancorp Common 624004107 15,056 487,254 SH   SOLE   487,254 0 0
MPB BHC, Inc. Common 55317L105 6,722 325,058 SH   SOLE   325,058 0 0
MVB Financial Corp. Common 553810102 3,558 85,733 SH   SOLE   85,733 0 0
nCino, Inc. Common 63947X101 379 9,260 SH   SOLE   9,260 0 0
Nicolet Bankshares, Inc. Common 65406E102 546 5,837 SH   SOLE   5,837 0 0
Northway Financial, Inc. Common 667270201 6,053 168,138 SH   SOLE   168,138 0 0
Nuvei Corp Common 67079A102 413 5,500 SH   SOLE   5,500 0 0
Oak Ridge Financial Services, Inc. Common 671768109 1,291 66,364 SH   SOLE   66,364 0 0
Oak Valley Bancorp Common 671807105 5,479 296,960 SH   SOLE   296,960 0 0
Old Second Bancorp, Inc. Common 680277100 31,323 2,158,694 SH   SOLE   2,158,694 0 0
Open Lending Corporation Common 68373J104 647 34,220 SH   SOLE   34,220 0 0
Orange County Bancorp Common 68417L107 19,131 478,164 SH   SOLE   478,164 0 0
Oregon Pacific Bancorp Common 686040205 5,027 606,386 SH   SOLE   606,386 0 0
Origin Bancorp Inc. Common 68621T102 9,623 227,542 SH   SOLE   227,542 0 0
Pacific Financial Corporation Common 694275108 6,034 509,205 SH   SOLE   509,205 0 0
Pacific West Bank Common 69506W202 2,461 185,715 SH   SOLE   185,715 0 0
Paya Holdings Inc. Common 70434P103 499 85,104 SH   SOLE   85,104 0 0
Payoneer Global Inc Common 70451X104 460 103,050 SH   SOLE   103,050 0 0
Peapack-Gladstone Financial Corporation Common 704699107 27,727 797,890 SH   SOLE   797,890 0 0
Peoples Bancorp Common 70979X107 2,530 11,934 SH   SOLE   11,934 0 0
Pinnacle Bancshares, Inc. Common 722903101 941 24,065 SH   SOLE   24,065 0 0
Pinnacle Bank Common 72346K107 3,613 272,682 SH   SOLE   272,682 0 0
Pinnacle Bankshares Corporation Common 72345E102 1,675 70,393 SH   SOLE   70,393 0 0
Pioneer Bancshares, Inc Common 72357G102 2,910 97,000 SH   SOLE   97,000 0 0
Potomac Bancshares, Inc. Common 737643106 747 41,492 SH   SOLE   41,492 0 0
Prime Meridian Holding Company Common 74164R107 6,496 239,276 SH   SOLE   239,276 0 0
Primis Financial Corporation Common 74167B109 20,342 1,455,093 SH   SOLE   1,455,093 0 0
Private Bancorp of America, Inc. Common 74274F100 9,466 315,097 SH   SOLE   315,097 0 0
Professional Holding Corp. Common 743139107 4,036 178,887 SH   SOLE   178,887 0 0
Provident Financial Services, Inc. Common 74386T105 1,337 57,141 SH   SOLE   57,141 0 0
PSB Holdings, Inc. Common 69360N108 8,255 317,506 SH   SOLE   317,506 0 0
QNB Corp. Common 74726N107 4,600 124,526 SH   SOLE   124,526 0 0
Red River Bancshares, Inc. Common 75686R202 1,944 36,743 SH   SOLE   36,743 0 0
Republic First Bancorp, Inc. Common 760416107 5,176 1,003,081 SH   SOLE   1,003,081 0 0
River City Bank Common 76803X106 6,714 24,867 SH   SOLE   24,867 0 0
Riverview Bancorp, Inc. Common 769397100 1,654 219,007 SH   SOLE   219,007 0 0
Salisbury Bancorp, Inc. Common 795226109 2,458 43,336 SH   SOLE   43,336 0 0
Santa Cruz County Bank Common 801827106 17,625 705,016 SH   SOLE   705,016 0 0
Seacoast Banking Corporation of Florida Common 811707801 2,385 68,095 SH   SOLE   68,095 0 0
Shift4 Payments Common 82452J109 178 2,880 SH   SOLE   2,880 0 0
Shore Bancshares, Inc. Common 825107105 8,790 429,185 SH   SOLE   429,185 0 0
Sierra Bancorp Common 82620P102 3,956 158,354 SH   SOLE   158,354 0 0
Signature Bank Common 82669G104 2,700 9,200 SH   SOLE   9,200 0 0
Silvercrest Asset Management Group Inc. Common 828359109 4,157 203,286 SH   SOLE   203,286 0 0
Silvergate Capital Corporation Common 82837P408 2,307 15,320 SH   SOLE   15,320 0 0
SmartFinancial, Inc. Common 83190L208 17,374 679,185 SH   SOLE   679,185 0 0
South Atlantic Bancshares, Inc. Common 83636T104 6,769 423,608 SH   SOLE   423,608 0 0
South Plains Financial, Inc. Common 83946P107 5,580 209,919 SH   SOLE   209,919 0 0
Southern BancShares (N.C.), Inc. Common 842243107 11,587 1,995 SH   SOLE   1,995 0 0
Southern California Bancorp Common 84252A106 11,454 743,760 SH   SOLE   743,760 0 0
Southern First Bancshares, Inc. Common 842873101 16,905 332,514 SH   SOLE   332,514 0 0
Southern States Bancshares, Inc. Common 843878307 10,297 446,322 SH   SOLE   446,322 0 0
SouthPoint Bancshares, Inc. Common 844647107 3,671 104,826 SH   SOLE   104,826 0 0
Spirit of Texas Bancshares, Inc. Common 84861D103 9,850 374,798 SH   SOLE   374,798 0 0
Sterling Bancorp, Inc. Common 85917W102 3,565 502,061 SH   SOLE   502,061 0 0
Studio Bank Common 86389R100 1,000 74,074 SH   SOLE   74,074 0 0
Summit Bank Group, Inc. Common 86603R100 333 22,593 SH   SOLE   22,593 0 0
Summit State Bank Common 866264203 3,588 209,850 SH   SOLE   209,850 0 0
Surrey Bancorp Common 86888W105 1,005 63,785 SH   SOLE   63,785 0 0
SVB Financial Group Common 78486Q101 1,134 2,027 SH   SOLE   2,027 0 0
Synovus Financial Corp. Common 87161C501 1,355 27,657 SH   SOLE   27,657 0 0
Texas Capital Bancshares, Inc. Common 88224Q107 13,147 229,405 SH   SOLE   229,405 0 0
The Bancorp, Inc. Common 05969A105 1,532 54,092 SH   SOLE   54,092 0 0
Third Coast Bancshares Common 88422P109 6,353 275,000 SH   SOLE   275,000 0 0
Traditions Bancorp, Inc. Common 89269L102 4,967 222,235 SH   SOLE   222,235 0 0
Tri City Bankshares Corporation Common 895364107 3,601 172,141 SH   SOLE   172,141 0 0
TriState Capital Holdings, Inc. Common 89678F100 267 8,022 SH   SOLE   8,022 0 0
Triumph Bancorp, Inc. Common 89679E300 31,160 331,418 SH   SOLE   331,418 0 0
Two Rivers Financial Group, Inc. Common 90206L106 3,381 78,629 SH   SOLE   78,629 0 0
United Bancorporation of Alabama, Inc. Common 90944R100 3,993 137,700 SH   SOLE   137,700 0 0
Unity Bancorp, Inc. Common 913290102 22,143 791,370 SH   SOLE   791,370 0 0
USCB Financial Holdings Inc. Common 90355N101 5,374 375,000 SH   SOLE   375,000 0 0
Veritex Holdings, Inc. Common 923451108 1,832 48,000 SH   SOLE   48,000 0 0
Village Bank and Trust Financial Corp. Common 92705T200 1,256 22,838 SH   SOLE   22,838 0 0
Virginia National Bankshares Corp. Common 928031103 1,668 48,357 SH   SOLE   48,357 0 0
Voyager Digital Common 92919V108 2,228 417,315 SH   SOLE   417,315 0 0
W.T.B. Financial Corporation Common 929334209 6,223 16,207 SH   SOLE   16,207 0 0
Westbury Bancorp, Inc. Common 95727P106 3,589 108,131 SH   SOLE   108,131 0 0
WEX Inc. Common 96208T104 1,776 9,955 SH   SOLE   9,955 0 0
White River Bancshares Company Common 96445A108 3,825 47,227 SH   SOLE   47,227 0 0