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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABACUS LIFE INC CL A 00258Y104 BBG00VY1KB95 263,667 33,674 SH   SOLE   33,674 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 BBG000BJGD54 1,137,018 47,062 SH   SOLE   47,062 0 0
ACI WORLDWIDE INC COM 004498101 BBG000PMBV39 993,609 19,141 SH   SOLE   19,141 0 0
AGREE RLTY CORP COM 008492100 BBG000BC9DK0 218,959 3,108 SH   SOLE   3,108 0 0
ALERUS FINL CORP COM 01446U103 BBG000BTXSH7 5,556,762 288,813 SH   SOLE   288,813 0 0
ALLSTATE CORP COM 020002101 BBG000BVMGF2 2,548,684 13,220 SH   SOLE   13,220 0 0
AMERICAN HEALTHCARE REIT INC COM SHS 398182303 BBG01L820CZ4 970,003 34,131 SH   SOLE   34,131 0 0
AMERIS BANCORP COM 03076K108 BBG000CDY3H5 11,947,616 190,948 SH   SOLE   190,948 0 0
ARCH CAP GROUP LTD ORD G0450A105 BBG000HXNN20 2,166,716 23,462 SH   SOLE   23,462 0 0
ARES CAPITAL CORP COM 04010L103 BBG000PD6X77 1,065,496 48,675 SH   SOLE   48,675 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 BBG000BB00D7 2,188,769 76,988 SH   SOLE   76,988 0 0
BLACKSTONE SECD LENDING FD COMMON STOCK 09261X102 BBG00MS80PM3 887,330 27,463 SH   SOLE   27,463 0 0
BLOCK INC CL A 852234103 BBG0018SLC07 246,981 2,906 SH   SOLE   2,906 0 0
BLUE OWL CAPITAL INC COM CL A 09581B103 BBG00XV417R8 392,908 16,892 SH   SOLE   16,892 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 BBG000BFYGX4 18,779,393 1,591,474 SH   SOLE   1,591,474 0 0
CALIFORNIA BANCORP COM 84252A106 BBG000QJ8KD2 4,368,164 264,097 SH   SOLE   264,097 0 0
CHAIN BRIDGE BANCORP INC CL A 15746L100 BBG000V8CRG7 2,890,621 115,302 SH   SOLE   115,302 0 0
CINCINNATI FINL CORP COM 172062101 BBG000BFPK65 2,130,927 14,829 SH   SOLE   14,829 0 0
CITIGROUP INC COM NEW 172967424 BBG000FY4S11 4,582,671 65,104 SH   SOLE   65,104 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 BBG000NFKDB7 8,843,906 542,904 SH   SOLE   542,904 0 0
CNO FINL GROUP INC COM 12621E103 BBG000Q1GK24 932,631 25,064 SH   SOLE   25,064 0 0
COASTAL FINL CORP WA COM NEW 19046P209 BBG000QK5803 4,744,516 55,877 SH   SOLE   55,877 0 0
COLUMBIA BKG SYS INC COM 197236102 BBG000CTGXS2 20,640,691 764,187 SH   SOLE   764,187 0 0
COMERICA INC COM 200340107 BBG000C75N77 4,542,759 73,448 SH   SOLE   73,448 0 0
COMPASS INC CL A 20464U100 BBG00J5SXTH3 2,085,075 356,423 SH   SOLE   356,423 0 0
COPT DEFENSE PROPERTIES SHS BEN INT 22002T108 BBG000BXL4N7 222,035 7,174 SH   SOLE   7,174 0 0
COUSINS PPTYS INC COM NEW 222795502 BBG000CW9BM7 279,651 9,127 SH   SOLE   9,127 0 0
DYNEX CAP INC COM 26817Q886 BBG000FBJQM6 1,177,310 93,068 SH   SOLE   93,068 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 BBG000QKJS40 47,823,290 1,127,376 SH   SOLE   1,127,376 0 0
ESSA BANCORP INC COM 29667D104 BBG000R3PVY0 18,859,776 967,168 SH   SOLE   967,168 0 0
EVERCORE INC CLASS A 29977A105 BBG000BP30Y0 3,029,132 10,928 SH   SOLE   10,928 0 0
FIFTH DIST BANCORP INC COM 316926104 BBG01P1ZYS41 4,654,319 368,805 SH   SOLE   368,805 0 0
FIRST AMERN FINL CORP COM 31847R102 BBG000V78V75 3,994,724 63,977 SH   SOLE   63,977 0 0
FIRST BANCSHARES INC MISS COM 318916103 BBG000BHWFN5 2,321,585 66,331 SH   SOLE   66,331 0 0
FIRST CMNTY CORP S C COM 319835104 BBG000BRD351 6,139,104 255,796 SH   SOLE   255,796 0 0
FIRST INDL RLTY TR INC COM 32054K103 BBG000CKGDS5 1,089,876 21,741 SH   SOLE   21,741 0 0
FIRST INTST BANCSYSTEM INC COM 32055Y201 BBG000BMSC38 19,959,829 614,716 SH   SOLE   614,716 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 BBG000FPK736 10,477,176 394,472 SH   SOLE   394,472 0 0
FISERV INC COM 337738108 BBG000BJKPG0 338,532 1,648 SH   SOLE   1,648 0 0
FIVE STAR BANCORP COM 33830T103 BBG000QJZ0P3 14,594,854 485,040 SH   SOLE   485,040 0 0
FVCBANKCORP INC COM 36120Q101 BBG000DS5RF2 20,399,702 1,622,888 SH   SOLE   1,622,888 0 0
GLOBE LIFE INC COM 37959E102 BBG000BVD6X4 536,188 4,808 SH   SOLE   4,808 0 0
GOOSEHEAD INS INC COM CL A 38267D109 BBG00KHHBMC5 2,751,372 25,661 SH   SOLE   25,661 0 0
HAMILTON LANE INC CL A 407497106 BBG00FX58Q66 474,056 3,202 SH   SOLE   3,202 0 0
HANOVER INS GROUP INC COM 410867105 BBG01462V521 3,460,827 22,377 SH   SOLE   22,377 0 0
HAWTHORN BANCSHARES INC COM 420476103 BBG000BHQP32 9,492,969 334,849 SH   SOLE   334,849 0 0
HCI GROUP INC COM 40416E103 BBG000F4DVC8 7,253,993 62,250 SH   SOLE   62,250 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 BBG000BKYDP9 363,624 17,939 SH   SOLE   17,939 0 0
HERCULES CAPITAL INC COM 427096508 BBG000C2R8K2 1,104,307 54,968 SH   SOLE   54,968 0 0
HERITAGE COMM CORP COM 426927109 BBG000C48437 28,522,760 3,040,806 SH   SOLE   3,040,806 0 0
HERITAGE INSURANCE HLDGS INC COM 42727J102 BBG006D4PF48 211,956 17,517 SH   SOLE   17,517 0 0
HIGHWOODS PPTYS INC COM 431284108 BBG000C43744 390,996 12,786 SH   SOLE   12,786 0 0
HOME BANCORP INC COM 43689E107 BBG000J31X35 31,773,488 687,589 SH   SOLE   687,589 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 BBG000QSM8F1 312,068 24,866 SH   SOLE   24,866 0 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5W70 54,817,096 1,627,586 SH   SOLE   1,627,586 0 0
INDEPENDENT BANK GROUP INC COM 45384B106   18,530,499 305,431 SH   SOLE   305,431 0 0
INDEPENDENT BK CORP MICH COM NEW 453838609 BBG000BLN9N0 23,352,958 670,484 SH   SOLE   670,484 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 BBG000LV0836 2,915,055 16,500 SH   SOLE   16,500 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 BBG000C1FB75 2,885,728 19,366 SH   SOLE   19,366 0 0
JANUS HENDERSON GROUP PLC ORD SHS G4474Y214 BBG00GSNPM07 936,170 22,012 SH   SOLE   22,012 0 0
JEFFERIES FINL GROUP INC COM 47233W109 BBG000BNHSP9 2,056,902 26,236 SH   SOLE   26,236 0 0
JOHN MARSHALL BANCORP INC COM 47805L101 BBG000LM3ZW1 3,501,570 174,381 SH   SOLE   174,381 0 0
JONES LANG LASALLE INC COM 48020Q107 BBG000C2L2L0 4,800,547 18,964 SH   SOLE   18,964 0 0
KEMPER CORP COM 488401100 BBG000H3GDJ8 2,733,076 41,136 SH   SOLE   41,136 0 0
LADDER CAP CORP CL A 505743104 BBG005RVGZ41 1,315,776 117,585 SH   SOLE   117,585 0 0
LINKBANCORP INC COM 53578P105 BBG00M69LH40 26,478,736 3,539,938 SH   SOLE   3,539,938 0 0
LPL FINL HLDGS INC COM 50212V100 BBG000P2TYL8 2,920,958 8,946 SH   SOLE   8,946 0 0
MID PENN BANCORP INC COM 59540G107 BBG000BB7F65 11,243,130 389,845 SH   SOLE   389,845 0 0
MID-AMER APT CMNTYS INC COM 59522J103 BBG000BLMY92 477,312 3,088 SH   SOLE   3,088 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 BBG000BQVV88 17,719,433 608,497 SH   SOLE   608,497 0 0
MR COOPER GROUP INC COM 62482R107 BBG002V098F7 3,835,119 39,945 SH   SOLE   39,945 0 0
MSCI INC COM 55354G100 BBG000RTDY25 627,010 1,045 SH   SOLE   1,045 0 0
OLD NATL BANCORP IND COM 680033107 BBG000KFW1C2 2,652,134 122,190 SH   SOLE   122,190 0 0
OLD SECOND BANCORP INC ILL COM 680277100 BBG000BLFSZ4 31,925,981 1,795,612 SH   SOLE   1,795,612 0 0
P10 INC COM CL A 69376K106 BBG012QFRJQ3 2,720,128 215,712 SH   SOLE   215,712 0 0
PALOMAR HLDGS INC COM 69753M105 BBG00NLMRY30 2,270,819 21,506 SH   SOLE   21,506 0 0
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201 BBG011RJSSB1 1,055,960 28,189 SH   SOLE   28,189 0 0
PIONEER BANCORP INC MD COM 723561106 BBG00PFB4RR0 3,044,724 264,299 SH   SOLE   264,299 0 0
PRIMERICA INC COM 74164M108 BBG000T8ZF80 537,683 1,981 SH   SOLE   1,981 0 0
PROSPERITY BANCSHARES INC COM 743606105 BBG000BHY4D9 593,833 7,881 SH   SOLE   7,881 0 0
PROVIDENT FINL SVCS INC COM 74386T105 BBG000P23KW4 999,299 52,957 SH   SOLE   52,957 0 0
QCR HOLDINGS INC COM 74727A104 BBG000BYZSM8 22,496,302 278,972 SH   SOLE   278,972 0 0
QUINSTREET INC COM 74874Q100 BBG000S9XXB8 307,177 13,315 SH   SOLE   13,315 0 0
RBB BANCORP COM 74930B105 BBG002537TC9 33,129,113 1,616,843 SH   SOLE   1,616,843 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 BBG000BDLCQ0 3,904,729 18,278 SH   SOLE   18,278 0 0
RIVERVIEW BANCORP INC COM 769397100 BBG000BGZL88 12,476,286 2,173,569 SH   SOLE   2,173,569 0 0
SB FINL GROUP INC COM 78408D105 BBG000BJQTT2 7,769,550 371,571 SH   SOLE   371,571 0 0
SHORE BANCSHARES INC COM 825107105 BBG000BS3PL3 1,104,840 69,706 SH   SOLE   69,706 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 BBG000BSTBM5 24,486,897 1,104,008 SH   SOLE   1,104,008 0 0
SKYWARD SPECIALTY INS GROUP COM 830940102 BBG002QHKLM6 1,626,478 32,182 SH   SOLE   32,182 0 0
SOUND FINL BANCORP INC COM 83607A100 BBG000BD3F92 5,691,202 108,095 SH   SOLE   108,095 0 0
SOUTHERN FIRST BANCSHARES COM 842873101 BBG000C0C4Q5 32,087,114 807,223 SH   SOLE   807,223 0 0
SOUTHERN MO BANCORP INC COM 843380106 BBG000C3ZNH2 20,922,839 364,700 SH   SOLE   364,700 0 0
SOUTHSTATE CORPORATION COM 840441109 BBG000BNPYN9 14,323,528 143,984 SH   SOLE   143,984 0 0
STERLING BANCORP INC COM 85917W102 BBG00328QCC5 20,468,747 4,300,157 SH   SOLE   4,300,157 0 0
STIFEL FINL CORP COM 860630102 BBG000BSS5C0 3,106,659 29,286 SH   SOLE   29,286 0 0
STRAWBERRY FIELDS REIT INC COM 863182101 BBG019R1G740 2,031,448 192,737 SH   SOLE   192,737 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 BBG003PGJHP5 4,135,409 67,561 SH   SOLE   67,561 0 0
TFS FINL CORP COM 87240R107 BBG000F7GST7 4,267,335 339,756 SH   SOLE   339,756 0 0
TOLL BROTHERS INC COM 889478103 BBG000BVHBM1 3,664,389 29,094 SH   SOLE   29,094 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 BBG000BBSC23 9,908,258 290,906 SH   SOLE   290,906 0 0
TPG INC COM CL A 872657101 BBG0145FSNR1 655,735 10,435 SH   SOLE   10,435 0 0
TPG RE FIN TR INC COM 87266M107 BBG00GKJ8C78 1,477,402 173,812 SH   SOLE   173,812 0 0
TRANSUNION COM 89400J107 BBG002Q7J5Z1 266,727 2,877 SH   SOLE   2,877 0 0
VISA INC COM CL A 92826C839 BBG000PSKYX7 283,172 896 SH   SOLE   896 0 0
WALKER & DUNLOP INC COM 93148P102 BBG000K8K0L3 3,412,557 35,105 SH   SOLE   35,105 0 0
WEBSTER FINL CORP COM 947890109 BBG000BWMX63 29,177,420 528,385 SH   SOLE   528,385 0 0
WELLTOWER INC COM 95040Q104 BBG000BKY1G5 2,437,546 19,341 SH   SOLE   19,341 0 0
WESBANCO INC COM 950810101 BBG000BX0BJ9 15,311,925 470,557 SH   SOLE   470,557 0 0
WESTERN ALLIANCE BANCORP COM 957638109 BBG000Q1KFH4 3,997,138 47,847 SH   SOLE   47,847 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 BBG000DB3KT1 2,765,596 8,829 SH   SOLE   8,829 0 0