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 2,383,933 133,032 SH   SOLE   133,032 0 0
AFFILIATED MANAGERS GROUP IN COM 008252108 BBG000C060M4 635,856 4,070 SH   SOLE   4,070 0 0
ALLSTATE CORP COM 020002101 BBG000BVMGF2 1,968,767 12,331 SH   SOLE   12,331 0 0
AMERICAN HEALTHCARE REIT INC COM SHS 398182303 BBG01L820CZ4 215,454 14,747 SH   SOLE   14,747 0 0
AMERIPRISE FINL INC COM 03076C106 BBG000G3QLY3 927,002 2,170 SH   SOLE   2,170 0 0
AMERIS BANCORP COM 03076K108 BBG000CDY3H5 36,125,873 717,495 SH   SOLE   717,495 0 0
ANNALY CAPITAL MANAGEMENT IN COM NEW 035710839 BBG000BJFJ98 3,655,212 191,774 SH   SOLE   191,774 0 0
ARBOR REALTY TRUST INC COM 038923108 BBG000KMVDV1 1,431,456 99,753 SH   SOLE   99,753 0 0
ARCH CAP GROUP LTD ORD G0450A105 BBG000HXNN20 2,774,172 27,497 SH   SOLE   27,497 0 0
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101 BBG0068KVV91 617,886 4,636 SH   SOLE   4,636 0 0
BANC OF CALIFORNIA INC COM 05990K106 BBG000F7VG25 43,359,792 3,392,785 SH   SOLE   3,392,785 0 0
BAYCOM CORP COM 07272M107 BBG00FWKRBS2 1,319,413 64,836 SH   SOLE   64,836 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 BBG000BDLQJ7 2,918,733 106,213 SH   SOLE   106,213 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 BBG000DWG505 617,522 1,518 SH   SOLE   1,518 0 0
BGC GROUP INC CL A 088929104 BBG01H9FTGX5 2,066,111 248,929 SH   SOLE   248,929 0 0
BROWN & BROWN INC COM 115236101 BBG000BWSGF4 2,639,383 29,520 SH   SOLE   29,520 0 0
CAPITAL BANCORP INC MD COM 139737100 BBG000G2Z909 311,047 15,173 SH   SOLE   15,173 0 0
CBOE GLOBAL MKTS INC COM 12503M108 BBG000QH56C1 1,389,730 8,172 SH   SOLE   8,172 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 BBG000NFKDB7 11,009,943 951,594 SH   SOLE   951,594 0 0
CITIZENS FINL GROUP INC COM 174610105 BBG006Q0HY77 886,338 24,600 SH   SOLE   24,600 0 0
COMMERCE BANCSHARES INC COM 200525103 BBG000BF3G77 7,168,734 128,518 SH   SOLE   128,518 0 0
COMPASS INC CL A 20464U100 BBG00J5SXTH3 1,405,901 390,528 SH   SOLE   390,528 0 0
CRESCENT CAP BDC INC COM 225655109 BBG009NX1JT8 632,417 33,675 SH   SOLE   33,675 0 0
EASTERN BANKSHARES INC COM 27627N105 BBG00W9KWXC4 27,629,247 1,976,341 SH   SOLE   1,976,341 0 0
EASTGROUP PPTYS INC COM 277276101 BBG000BHRBT4 1,055,300 6,204 SH   SOLE   6,204 0 0
ELEVANCE HEALTH INC COM 036752103 BBG000BCG930 1,997,296 3,686 SH   SOLE   3,686 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 BBG000QKJS40 32,410,294 920,747 SH   SOLE   920,747 0 0
ESSA BANCORP INC COM 29667D104 BBG000R3PVY0 16,569,639 941,992 SH   SOLE   941,992 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 BBG00L17LGJ7 1,692,499 61,079 SH   SOLE   61,079 0 0
ESSEX PPTY TR INC COM 297178105 BBG000CGJMB9 578,697 2,126 SH   SOLE   2,126 0 0
EVANS BANCORP INC COM NEW 29911Q208 BBG000CB1FM2 15,185,950 540,233 SH   SOLE   540,233 0 0
EVERQUOTE INC COM CL A 30041R108 BBG00F17NDH7 1,357,861 65,094 SH   SOLE   65,094 0 0
EXTRA SPACE STORAGE INC COM 30225T102 BBG000PV27K3 246,636 1,587 SH   SOLE   1,587 0 0
EZCORP INC CL A NON VTG 302301106 BBG000C93HM1 1,158,055 110,607 SH   SOLE   110,607 0 0
FIDUS INVT CORP COM 316500107 BBG001K9JH07 1,602,542 82,266 SH   SOLE   82,266 0 0
FIRST BANCSHARES INC MS COM 318916103 BBG000BHWFN5 33,109,042 1,274,405 SH   SOLE   1,274,405 0 0
FIRST CMNTY CORP S C COM 319835104 BBG000BRD351 6,711,302 389,061 SH   SOLE   389,061 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 BBG000FPK736 7,017,657 394,472 SH   SOLE   394,472 0 0
FIRST WESTN FINL INC COM 33751L105 BBG000BK7L26 5,726,161 336,833 SH   SOLE   336,833 0 0
FIVE STAR BANCORP COM 33830T103 BBG000QJZ0P3 15,484,979 654,756 SH   SOLE   654,756 0 0
FORESTAR GROUP INC COM 346232101 BBG000BB1YV2 1,645,758 51,446 SH   SOLE   51,446 0 0
FRANKLIN BSP RLTY TR INC COMMON STOCK 35243J101 BBG0131739J2 1,784,488 141,626 SH   SOLE   141,626 0 0
FVCBANKCORP INC COM 36120Q101 BBG000DS5RF2 18,316,542 1,677,339 SH   SOLE   1,677,339 0 0
GLOBE LIFE INC COM 37959E102 BBG000BVD6X4 315,544 3,835 SH   SOLE   3,835 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 BBG000C6CFJ5 2,056,247 4,546 SH   SOLE   4,546 0 0
GOLUB CAP BDC INC COM 38173M102 BBG000PXNF64 1,897,579 120,788 SH   SOLE   120,788 0 0
GOOSEHEAD INS INC COM CL A 38267D109 BBG00KHHBMC5 408,284 7,108 SH   SOLE   7,108 0 0
HAMILTON LANE INC CL A 407497106 BBG00FX58Q66 1,149,170 9,299 SH   SOLE   9,299 0 0
HAWTHORN BANCSHARES INC COM 420476103 BBG000BHQP32 10,008,405 505,475 SH   SOLE   505,475 0 0
HCI GROUP INC COM 40416E103 BBG000F4DVC8 2,144,888 23,271 SH   SOLE   23,271 0 0
HERITAGE COMM CORP COM 426927109 BBG000C48437 52,110,642 5,989,729 SH   SOLE   5,989,729 0 0
HMN FINL INC COM 40424G108 BBG000D93RD8 9,703,163 423,904 SH   SOLE   423,904 0 0
HOME BANCORP INC COM 43689E107 BBG000J31X35 31,532,121 788,106 SH   SOLE   788,106 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 BBG000QSM8F1 399,913 34,866 SH   SOLE   34,866 0 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5W70 51,516,405 1,715,498 SH   SOLE   1,715,498 0 0
HOVNANIAN ENTERPRISES INC CL A NEW 442487401 BBG000BLCBN7 1,361,155 9,591 SH   SOLE   9,591 0 0
HUDSON PAC PPTYS INC COM 444097109 BBG000QC4T33 215,074 44,714 SH   SOLE   44,714 0 0
HUMANA INC COM 444859102 BBG000BLKK03 215,970 578 SH   SOLE   578 0 0
INDEPENDENT BANK GROUP INC COM 45384B106 BBG003981NS4 49,136,200 1,079,442 SH   SOLE   1,079,442 0 0
INDEPENDENT BK CORP MICH COM NEW 453838609 BBG000BLN9N0 32,746,005 1,212,815 SH   SOLE   1,212,815 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 BBG000LV0836 1,938,183 15,809 SH   SOLE   15,809 0 0
JOHN MARSHALL BANCORP INC COM 47805L101 BBG000LM3ZW1 4,418,250 253,340 SH   SOLE   253,340 0 0
JONES LANG LASALLE INC COM 48020Q107 BBG000C2L2L0 3,195,799 15,568 SH   SOLE   15,568 0 0
KEMPER CORP COM 488401100 BBG000H3GDJ8 2,295,003 38,682 SH   SOLE   38,682 0 0
LADDER CAP CORP CL A 505743104 BBG005RVGZ41 1,904,996 168,733 SH   SOLE   168,733 0 0
LINKBANCORP INC COM 53578P105 BBG00M69LH40 19,245,356 3,144,666 SH   SOLE   3,144,666 0 0
MARKETAXESS HLDGS INC COM 57060D108 BBG000BJBZ23 626,055 3,122 SH   SOLE   3,122 0 0
MERCHANTS BANCORP IND COM 58844R108 BBG000RMQZS5 11,208,175 276,472 SH   SOLE   276,472 0 0
MIDLAND STATES BANCORP INC COM 597742105 BBG000G2ZK31 24,786,416 1,094,323 SH   SOLE   1,094,323 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 BBG000BQVV88 3,060,574 136,086 SH   SOLE   136,086 0 0
NEWMARK GROUP INC CL A 65158N102 BBG00J24S765 1,053,649 102,996 SH   SOLE   102,996 0 0
OLD NATL BANCORP IND COM 680033107 BBG000KFW1C2 8,723,323 507,465 SH   SOLE   507,465 0 0
OLD POINT FINL CORP COM 680194107 BBG000BSBQ78 4,088,133 278,673 SH   SOLE   278,673 0 0
OLD SECOND BANCORP INC ILL COM 680277100 BBG000BLFSZ4 25,786,891 1,741,181 SH   SOLE   1,741,181 0 0
ONEMAIN HLDGS INC COM 68268W103 BBG005497GZ3 893,186 18,420 SH   SOLE   18,420 0 0
P10 INC COM CL A 69376K106 BBG012QFRJQ3 313,149 36,928 SH   SOLE   36,928 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107 BBG00LMYX123 3,593,570 37,987 SH   SOLE   37,987 0 0
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201 BBG011RJSSB1 1,853,807 56,674 SH   SOLE   56,674 0 0
PIONEER BANCORP INC MD COM 723561106 BBG00PFB4RR0 13,715,292 1,370,159 SH   SOLE   1,370,159 0 0
PROGRESSIVE CORP COM 743315103 BBG000BR37X2 2,290,210 11,026 SH   SOLE   11,026 0 0
PROSPERITY BANCSHARES INC COM 743606105 BBG000BHY4D9 8,295,842 135,686 SH   SOLE   135,686 0 0
PROVIDENT FINL SVCS INC COM 74386T105 BBG000P23KW4 898,367 62,604 SH   SOLE   62,604 0 0
PUBLIC STORAGE OPER CO COM 74460D109 BBG000BPPN67 432,626 1,504 SH   SOLE   1,504 0 0
QCR HOLDINGS INC COM 74727A104 BBG000BYZSM8 25,874,460 431,241 SH   SOLE   431,241 0 0
RBB BANCORP COM 74930B105 BBG002537TC9 33,217,576 1,765,953 SH   SOLE   1,765,953 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 BBG000BDLCQ0 1,729,810 8,427 SH   SOLE   8,427 0 0
RIVERVIEW BANCORP INC COM 769397100 BBG000BGZL88 8,672,540 2,173,569 SH   SOLE   2,173,569 0 0
S&P GLOBAL INC COM 78409V104 BBG000BP1Q11 528,510 1,185 SH   SOLE   1,185 0 0
SB FINL GROUP INC COM 78408D105 BBG000BJQTT2 5,229,294 373,521 SH   SOLE   373,521 0 0
SELECTIVE INS GROUP INC COM 816300107 BBG000BSZ738 1,221,948 13,023 SH   SOLE   13,023 0 0
SHORE BANCSHARES INC COM 825107105 BBG000BS3PL3 798,134 69,706 SH   SOLE   69,706 0 0
SIXTH STREET SPECIALTY LENDI COM 83012A109 BBG001DFW799 2,050,027 96,020 SH   SOLE   96,020 0 0
SLM CORP COM 78442P106 BBG000BBCQD7 1,855,923 89,270 SH   SOLE   89,270 0 0
SOUND FINL BANCORP INC COM 83607A100 BBG000BD3F92 8,562,322 203,574 SH   SOLE   203,574 0 0
SOUTHERN CALIF BANCORP COM 84252A106 BBG000QJ8KD2 7,304,134 542,252 SH   SOLE   542,252 0 0
SOUTHERN FIRST BANCSHARES COM 842873101 BBG000C0C4Q5 23,603,201 807,223 SH   SOLE   807,223 0 0
SOUTHERN MO BANCORP INC COM 843380106 BBG000C3ZNH2 22,340,759 496,351 SH   SOLE   496,351 0 0
SOUTHSTATE CORPORATION COM 840441109 BBG000BNPYN9 4,981,361 65,184 SH   SOLE   65,184 0 0
STELLAR BANCORP INC COM 858927106 BBG00HZ69KP9 5,661,018 246,560 SH   SOLE   246,560 0 0
STERLING BANCORP INC COM 85917W102 BBG00328QCC5 22,131,346 4,231,615 SH   SOLE   4,231,615 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 BBG003PGJHP5 3,547,384 63,986 SH   SOLE   63,986 0 0
UNITED SEC BANCSHARES CALIF COM 911460103 BBG000G81WK0 4,396,647 606,434 SH   SOLE   606,434 0 0
VENTAS INC COM 92276F100 BBG000FRVHB9 334,266 6,521 SH   SOLE   6,521 0 0
VERITEX HLDGS INC COM 923451108 BBG000QG9SX8 11,175,739 529,907 SH   SOLE   529,907 0 0
VOYA FINANCIAL INC COM 929089100 BBG000BCWKD6 313,772 4,410 SH   SOLE   4,410 0 0
WELLTOWER INC COM 95040Q104 BBG000BKY1G5 2,304,759 22,108 SH   SOLE   22,108 0 0
WESTERN ALLIANCE BANCORP COM 957638109 BBG000Q1KFH4 38,828,288 618,088 SH   SOLE   618,088 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 BBG000DB3KT1 1,814,533 6,922 SH   SOLE   6,922 0 0
WINTRUST FINL CORP COM 97650W108 BBG000HD3DW5 8,704,524 88,317 SH   SOLE   88,317 0 0