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
ACNB CORP COM 000868109 529 17,831 SH   SOLE   17,831 0 0
BANC OF CALIFORNIA INC COM 05990K106 8,231 467,168 SH   SOLE   467,168 0 0
BANKFINANCIAL CORP COM 06643P104 655 69,724 SH   SOLE   69,724 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 4,210 274,775 SH   SOLE   274,775 0 0
CALIFORNIA BANCORP INC COM 13005U101 717 37,704 SH   SOLE   37,704 0 0
CARTER BANKSHARES INC COM NEW 146103106 4,619 349,889 SH   SOLE   349,889 0 0
CB FINL SVCS INC COM 12479G101 4,093 179,046 SH   SOLE   179,046 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 2,538 183,495 SH   SOLE   183,495 0 0
CITIZENS FINL GROUP INC COM 174610105 2,026 56,774 SH   SOLE   56,774 0 0
CODORUS VY BANCORP INC COM 192025104 3,556 157,962 SH   SOLE   157,962 0 0
COLONY BANKCORP INC COM 19623P101 4,224 279,902 SH   SOLE   279,902 0 0
EAGLE BANCORP MONT INC COM 26942G100 2,273 114,180 SH   SOLE   114,180 0 0
F N B CORP COM 302520101 1,867 171,900 SH   SOLE   171,900 0 0
FIRST BANCORP N C COM 318910106 2,373 68,000 SH   SOLE   68,000 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103 4,576 7,000 SH   SOLE   7,000 0 0
FIRST MERCHANTS CORP COM 320817109 2,110 59,247 SH   SOLE   59,247 0 0
FIRST NATL CORP COM 32106V107 5,118 280,460 SH   SOLE   280,460 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,730 110,874 SH   SOLE   110,874 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 6,305 142,218 SH   SOLE   142,218 0 0
HANMI FINL CORP COM NEW 410495204 1,265 56,351 SH   SOLE   56,351 0 0
HUNTINGTON BANCSHARES INC COM 446150104 2,458 204,355 SH   SOLE   204,355 0 0
INVESTAR HLDG CORP COM 46134L105 3,768 172,043 SH   SOLE   172,043 0 0
MALVERN BANCORP INC COM 561409103 3,214 200,000 SH   SOLE   200,000 0 0
MERIDIAN CORPORATION COM 58958P104 5,303 175,000 SH   SOLE   175,000 0 0
MID PENN BANCORP INC COM 59540G107 4,437 164,502 SH   SOLE   164,502 0 0
MIDWEST HLDG INC COM NEW 59833J206 1,196 99,594 SH   SOLE   99,594 0 0
PACWEST BANCORP DEL COM 695263103 3,115 116,845 SH   SOLE   116,845 0 0
PEOPLES BANCORP N C INC COM 710577107 477 17,550 SH   SOLE   17,550 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,887 39,919 SH   SOLE   39,919 0 0
PRIMIS FINANCIAL CORP COM 74167B109 1,483 108,801 SH   SOLE   108,801 0 0
PROVIDENT FINL SVCS INC COM 74386T105 2,161 97,069 SH   SOLE   97,069 0 0
SB FINL GROUP INC COM 78408D105 4,586 265,710 SH   SOLE   265,710 0 0
SHORE BANCSHARES INC COM 825107105 1,690 91,372 SH   SOLE   91,372 0 0
SYNOVUS FINL CORP COM NEW 87161C501 3,148 87,313 SH   SOLE   87,313 0 0
TERRITORIAL BANCORP INC COM 88145X108 859 41,221 SH   SOLE   41,221 0 0
WEBSTER FINL CORP COM 947890109 3,415 81,025 SH   SOLE   81,025 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,354 47,500 SH   SOLE   47,500 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 1,085 145,419 SH   SOLE   145,419 0 0
WINTRUST FINL CORP COM 97650W108 2,805 35,000 SH   SOLE   35,000 0 0