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
AMERICAN NATL BANKSHARES INC COM 027745108 2,130 60,058 SH   DFND 1 60,058 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 781 22,007 SH   DFND 2 22,007 0 0
AMERIS BANCORP COM 03076K108 16,353 406,379 SH   DFND 1 406,379 0 0
AMERIS BANCORP COM 03076K108 6,137 152,521 SH   DFND 2 152,521 0 0
BANC OF CALIFORNIA INC COM 05990K106 3,524 249,253 SH   DFND 1 249,253 0 0
BANC OF CALIFORNIA INC COM 05990K106 1,323 93,549 SH   DFND 2 93,549 0 0
BRIDGE BANCORP INC COM 108035106 1,280 43,305 SH   DFND 2 43,305 0 0
BRIDGE BANCORP INC COM 108035106 3,514 118,864 SH   DFND 1 118,864 0 0
CAMBRIDGE BANCORP COM 132152109 6,949 92,642 SH   DFND 1 92,642 0 0
CAMBRIDGE BANCORP COM 132152109 2,532 33,759 SH   DFND 2 33,759 0 0
CENTERSTATE BK CORP COM 15201P109 7,109 296,375 SH   DFND 1 296,375 0 0
CENTERSTATE BK CORP COM 15201P109 2,590 107,999 SH   DFND 2 107,999 0 0
CITIZENS FINL GROUP INC COM 174610105 12,961 366,450 SH   DFND 1 366,450 0 0
CITIZENS FINL GROUP INC COM 174610105 4,724 133,550 SH   DFND 2 133,550 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 8,569 394,357 SH   DFND 1 394,357 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 3,123 143,704 SH   DFND 2 143,704 0 0
COMMUNITY BANKERS TR CORP COM 203612106 11,800 1,372,035 SH   DFND 1 1,372,035 0 0
COMMUNITY BANKERS TR CORP COM 203612106 4,300 499,987 SH   DFND 2 499,987 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 518 23,338 SH   DFND 1 23,338 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 194 8,759 SH   DFND 2 8,759 0 0
FAUQUIER BANKSHARES INC VA COM 312059108 841 42,588 SH   DFND 2 42,588 0 0
FAUQUIER BANKSHARES INC VA COM 312059108 2,286 115,737 SH   DFND 1 115,737 0 0
FIRST BANCORP N C COM 318910106 1,872 52,131 SH   DFND 2 52,131 0 0
FIRST BANCORP N C COM 318910106 5,136 143,059 SH   DFND 1 143,059 0 0
FIRST BANCSHARES INC MS COM 318916103 2,534 78,449 SH   DFND 2 78,449 0 0
FIRST BANCSHARES INC MS COM 318916103 6,954 215,282 SH   DFND 1 215,282 0 0
FIRST MID BANCSHARES INC COM 320866106 1,158 33,450 SH   DFND 2 33,450 0 0
FIRST MID BANCSHARES INC COM 320866106 3,178 91,794 SH   DFND 1 91,794 0 0
FIRST SEACOAST BANCORP COM 33631P102 1,586 169,245 SH   DFND 1 169,245 0 0
FIRST SEACOAST BANCORP COM 33631P102 578 61,671 SH   DFND 2 61,671 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 10,701 279,436 SH   DFND 1 279,436 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 3,968 103,604 SH   DFND 2 103,604 0 0
HMN FINL INC COM 40424G108 1,754 76,656 SH   DFND 2 76,656 0 0
HMN FINL INC COM 40424G108 4,807 210,084 SH   DFND 1 210,084 0 0
IBERIABANK CORP COM 450828108 3,990 52,824 SH   DFND 2 52,824 0 0
IBERIABANK CORP COM 450828108 10,951 144,967 SH   DFND 1 144,967 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 2,796 132,825 SH   DFND 1 132,825 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 1,719 81,684 SH   DFND 2 81,684 0 0
MERIDIAN BANCORP INC MD COM 58958U103 6,543 348,983 SH   DFND 1 348,983 0 0
MERIDIAN BANCORP INC MD COM 58958U103 2,384 127,170 SH   DFND 2 127,170 0 0
NORTHEAST BK LEWISTON ME COM 66405S100 5,327 240,294 SH   DFND 2 240,294 0 0
NORTHEAST BK LEWISTON ME COM 66405S100 14,194 640,241 SH   DFND 1 640,241 0 0
OLD POINT FINL CORP COM 680194107 356 14,941 SH   DFND 2 14,941 0 0
OLD POINT FINL CORP COM 680194107 947 39,810 SH   DFND 1 39,810 0 0
OLD SECOND BANCORP INC ILL COM 680277100 6,376 521,800 SH   DFND 1 521,800 0 0
OLD SECOND BANCORP INC ILL COM 680277100 2,324 190,142 SH   DFND 2 190,142 0 0
OPUS BK IRVINE CALIF COM 684000102 9,650 443,292 SH   DFND 1 443,292 0 0
OPUS BK IRVINE CALIF COM 684000102 3,517 161,565 SH   DFND 2 161,565 0 0
PB BANCORP INC COM 70454T100 1,731 150,155 SH   DFND 1 150,155 0 0
PB BANCORP INC COM 70454T100 636 55,192 SH   DFND 2 55,192 0 0
PCSB FINL CORP COM 69324R104 2,951 147,601 SH   DFND 2 147,601 0 0
PCSB FINL CORP COM 69324R104 8,097 405,052 SH   DFND 1 405,052 0 0
PEOPLES UTD FINL INC COM 712704105 8,252 527,760 SH   DFND 1 527,760 0 0
PEOPLES UTD FINL INC COM 712704105 3,006 192,240 SH   DFND 2 192,240 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,273 16,220 SH   DFND 2 16,220 0 0
PNC FINL SVCS GROUP INC COM 693475105 6,239 44,511 SH   DFND 1 44,511 0 0
PROVIDENT BANCORP INC COM 74383X109 4,606 191,688 SH   DFND 1 191,688 0 0
PROVIDENT BANCORP INC COM 74383X109 1,679 69,851 SH   DFND 2 69,851 0 0
QCR HOLDINGS INC COM 74727A104 12,082 318,105 SH   DFND 1 318,105 0 0
QCR HOLDINGS INC COM 74727A104 4,403 115,939 SH   DFND 2 115,939 0 0
RED RIVER BANCSHARES INC COM 75686R202 2,552 58,831 SH   DFND 1 58,831 0 0
RED RIVER BANCSHARES INC COM 75686R202 958 22,080 SH   DFND 2 22,080 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 7,296 183,076 SH   DFND 1 183,076 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,659 66,713 SH   DFND 2 66,713 0 0
SPIRIT OF TEX BANCSHARES INC COM 84861D103 2,604 120,842 SH   DFND 1 120,842 0 0
SPIRIT OF TEX BANCSHARES INC COM 84861D103 949 44,031 SH   DFND 2 44,031 0 0
STERLING BANCORP DEL COM 85917A100 13,003 648,212 SH   DFND 1 648,212 0 0
STERLING BANCORP DEL COM 85917A100 4,880 243,286 SH   DFND 2 243,286 0 0
SYNOVUS FINL CORP COM NEW 87161C501 7,809 218,378 SH   DFND 1 218,378 0 0
SYNOVUS FINL CORP COM NEW 87161C501 2,846 79,574 SH   DFND 2 79,574 0 0
TCF FINANCIAL CORPORATION NE COM 872307103 14,015 368,146 SH   DFND 1 368,146 0 0
TCF FINANCIAL CORPORATION NE COM 872307103 5,108 134,177 SH   DFND 2 134,177 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,940 85,505 SH   DFND 2 85,505 0 0
WESTERN ALLIANCE BANCORP COM 957638109 10,811 234,604 SH   DFND 1 234,604 0 0
ZIONS BANCORPORATION N A COM 989701107 8,411 188,931 SH   DFND 1 188,931 0 0
ZIONS BANCORPORATION N A COM 989701107 3,065 68,844 SH   DFND 2 68,844 0 0