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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1st Capital Bancorp Common 319427100 4,442 415,120 SH   SOLE   415,120 0 0
1st Colonial Bancorp Common 319716106 3,074 259,644 SH   SOLE   259,644 0 0
Alerus Financial Corporation Common 01446U103 12,799 579,138 SH   SOLE   579,138 0 0
Allegiance Bancshares, Inc. Common 01748H107 5,879 141,213 SH   SOLE   141,213 0 0
Alpine Banks of Colorado Common 020810107 12,926 421,053 SH   SOLE   421,053 0 0
AMB Financial Corp. Common 001984103 206 10,762 SH   SOLE   10,762 0 0
American Business Bank Common 02475L105 24,231 610,363 SH   SOLE   610,363 0 0
American National Bankshares Inc. Common 027745108 1,249 39,092 SH   SOLE   39,092 0 0
American Riviera Bancorp Common 02933K103 6,032 351,724 SH   SOLE   351,724 0 0
Avidbank Holdings, Inc. Common 05368J103 14,479 665,697 SH   SOLE   665,697 0 0
Banc of California, Inc. Common 05990K106 10,818 677,412 SH   SOLE   677,412 0 0
Bank of Botetourt Common 063907208 1,416 49,824 SH   SOLE   49,824 0 0
Bank of Princeton Common 064520109 7,941 280,118 SH   SOLE   280,118 0 0
Bank of the James Financial Group, Inc. Common 470299108 2,456 194,318 SH   SOLE   194,318 0 0
Bank7 Corp Common 06652N107 8,539 385,000 SH   SOLE   385,000 0 0
Bankwell Financial Group, Inc. Common 06654A103 7,965 273,623 SH   SOLE   273,623 0 0
Bay Community Bancorp Common 072205107 5,722 675,206 SH   SOLE   675,206 0 0
BayFirst Financial Corp. Common 07279B104 2,211 133,593 SH   SOLE   133,593 0 0
BCB Bancorp, Inc. Common 055298103 1,759 104,496 SH   SOLE   104,496 0 0
Blue Ridge Bankshares, Inc. Common 095825105 14,329 1,127,414 SH   SOLE   1,127,414 0 0
Blueharbor Bank Common 095613105 2,750 161,283 SH   SOLE   161,283 0 0
Bridgewater Bancshares, Inc. Common 108621103 2,301 139,711 SH   SOLE   139,711 0 0
BTRS Holdings Inc. Common 11778X104 969 104,645 SH   SOLE   104,645 0 0
Business First Bancshares, Inc. Common 12326C105 4,909 228,003 SH   SOLE   228,003 0 0
Byline Bancorp, Inc. Common 124411109 11,521 568,923 SH   SOLE   568,923 0 0
California BanCorp Common 13005U101 13,653 675,203 SH   SOLE   675,203 0 0
Cambridge Bancorp Common 132152109 8,654 108,528 SH   SOLE   108,528 0 0
Capital Bancorp, Inc. Common 139737100 1,135 49,122 SH   SOLE   49,122 0 0
CapStar Financial Holdings, Inc. Common 14070T102 978 52,770 SH   SOLE   52,770 0 0
Cashmere Valley Bank Common 14756K102 2,393 48,787 SH   SOLE   48,787 0 0
CBTX, Inc. Common 12481V104 956 32,700 SH   SOLE   32,700 0 0
CCB Financial Common 19046P209 3,335 83,922 SH   SOLE   83,922 0 0
Centric Financial Corporation Common 15641J101 8,467 622,573 SH   SOLE   622,573 0 0
Chino Commercial Bancorp Common 16957L102 1,505 115,879 SH   SOLE   115,879 0 0
Citizens Bancorp Common 172950107 959 77,652 SH   SOLE   77,652 0 0
Citizens Community Bancorp, Inc. Common 174903104 10,653 875,331 SH   SOLE   875,331 0 0
CNB Corporation Common 12612R105 1,406 14,348 SH   SOLE   14,348 0 0
CNB Financial Corporation Common 126128107 11,719 497,188 SH   SOLE   497,188 0 0
Coastal Carolina Bancshares, Inc. Common 190435107 2,897 291,992 SH   SOLE   291,992 0 0
CoastalSouth Bancshares, Inc. Common 19058X207 3,032 214,258 SH   SOLE   214,258 0 0
Codorus Valley Bancorp, Inc. Common 192025104 4,053 215,121 SH   SOLE   215,121 0 0
Colony Bankcorp Inc. Common 19623P101 12,197 936,072 SH   SOLE   936,072 0 0
Commencement Bancorp, Inc. Common 20051D107 3,097 272,860 SH   SOLE   272,860 0 0
Community Bancorp of Santa Maria Common 20344R103 674 65,100 SH   SOLE   65,100 0 0
Community Financial Corporation Common 20368X101 917 26,732 SH   SOLE   26,732 0 0
Community First Bancorporation Common 203916101 818 113,744 SH   SOLE   113,744 0 0
Community Heritage Financial Inc. Common 20370L103 4,276 206,558 SH   SOLE   206,558 0 0
ConnectOne Bancorp, Inc. Common 20786W107 12,964 562,204 SH   SOLE   562,204 0 0
Cornerstone Financial Corporation Common 21925G201 1,631 150,000 SH   SOLE   150,000 0 0
CrossFirst Bankshares, Inc. Common 22766M109 20,753 1,590,289 SH   SOLE   1,590,289 0 0
Crystal Valley Financial Common 22941P100 958 16,800 SH   SOLE   16,800 0 0
Dime Community Bancshares, Inc Common 25432X102 6,377 217,777 SH   SOLE   217,777 0 0
Eagle Financial Services Inc. Common 26951R104 1,721 46,620 SH   SOLE   46,620 0 0
Enterprise Bancorp, Inc. Common 293668109 9,402 314,357 SH   SOLE   314,357 0 0
Equity Bancshares, Inc. Common 29460X109 4,857 163,926 SH   SOLE   163,926 0 0
ES Bancshares, Inc. Common 296049109 1,926 374,045 SH   SOLE   374,045 0 0
FB Financial Corp. Common 30257X104 3,782 98,978 SH   SOLE   98,978 0 0
Fentura Financial, Inc. Common 314645102 6,857 298,149 SH   SOLE   298,149 0 0
FineMark Holdings, Inc. Common 31788B108 24,220 828,044 SH   SOLE   828,044 0 0
First Bancshares, Inc. Common 318916103 5,830 195,169 SH   SOLE   195,169 0 0
First Bank Common 31931U102 16,127 1,179,721 SH   SOLE   1,179,721 0 0
First Business Financial Services Common 319390100 18,526 573,371 SH   SOLE   573,371 0 0
First Capital Bancshares, Inc. Common 31941G101 1,859 232,396 SH   SOLE   232,396 0 0
First Citrus Bancorporation, Inc. Common 31959T102 1,671 36,765 SH   SOLE   36,765 0 0
First Community Corporation Common 319835104 6,794 388,211 SH   SOLE   388,211 0 0
First Farmers and Merchants Corporation Common 320148109 1,151 42,538 SH   SOLE   42,538 0 0
First Foundation Inc. Common 32026V104 21,125 1,164,567 SH   SOLE   1,164,567 0 0
First Internet Bancorp Common 320557101 12,950 382,467 SH   SOLE   382,467 0 0
First National Corporation Common 32106V107 3,414 223,120 SH   SOLE   223,120 0 0
First Northern Community Bancorp Common 335925103 6,904 817,016 SH   SOLE   817,016 0 0
First Reliance Bancshares, Inc. Common 33615Q100 6,687 731,627 SH   SOLE   731,627 0 0
First Southern Bank Common 33650R104 1,764 196,250 SH   SOLE   196,250 0 0
First Virginia Community Bank Common 36120Q101 2,920 152,310 SH   SOLE   152,310 0 0
First Western Financial, Inc. Common 33751L105 17,955 728,386 SH   SOLE   728,386 0 0
FirstSun Capital Bancorp Common 33767U107 4,065 132,197 SH   SOLE   132,197 0 0
Five Star Bancorp Common 33830T103 4,339 153,000 SH   SOLE   153,000 0 0
Foresight Financial Group, Inc. Common 345526107 4,597 147,098 SH   SOLE   147,098 0 0
Franklin Financial Services Corp. Common 353525108 2,676 84,796 SH   SOLE   84,796 0 0
Grand River Commerce, Inc. Common 386441109 3,432 596,938 SH   SOLE   596,938 0 0
GrandSouth Bancorporation Common 386627301 1,226 36,482 SH   SOLE   36,482 0 0
Hanover Bancorp Inc. Common 410710206 3,537 185,000 SH   SOLE   185,000 0 0
HBT Financial, Inc. Common 404111106 20,946 1,154,053 SH   SOLE   1,154,053 0 0
Heritage Commerce Corp Common 426927109 8,133 717,200 SH   SOLE   717,200 0 0
i3 Verticals, Inc. Common 46571Y107 707 35,300 SH   SOLE   35,300 0 0
Investar Holding Corporation Common 46134L105 11,397 572,699 SH   SOLE   572,699 0 0
John Marshall Bank Common 47805L101 329 13,400 SH   SOLE   13,400 0 0
Lakeland Bancorp, Inc. Common 511637100 22,545 1,408,192 SH   SOLE   1,408,192 0 0
Lewis & Clark Bancorp Common 52757L109 27 729 SH   SOLE   729 0 0
Limestone Bancorp, Inc. Common 53262L105 7,803 397,710 SH   SOLE   397,710 0 0
LinkBancorp Common 53578P105 7,530 1,004,000 SH   SOLE   1,004,000 0 0
Live Oak Bancshares Common 53803X105 390 12,750 SH   SOLE   12,750 0 0
MainStreet Bancshares, Inc. Common 56064Y100 14,173 621,372 SH   SOLE   621,372 0 0
Malaga Financial Corporation Common 561046103 2,160 93,700 SH   SOLE   93,700 0 0
Malvern Bancorp, Inc. Common 561409103 6,804 473,459 SH   SOLE   473,459 0 0
McHenry Bancorp, Inc. Common 580683209 2,105 60,000 SH   SOLE   60,000 0 0
Mercantile Bank Corporation Common 587376104 14,652 493,158 SH   SOLE   493,158 0 0
Merchants Bancorp Common 58844R108 9,058 392,627 SH   SOLE   392,627 0 0
Merchants Financial Group, Inc. Common 588538108 8,726 323,184 SH   SOLE   323,184 0 0
Meridian Bank Common 58958P104 12,261 420,344 SH   SOLE   420,344 0 0
Metropolitan Bank Holding Corp. Common 591774104 10,495 163,061 SH   SOLE   163,061 0 0
Mid Penn Bank Common 59540G107 13,584 472,827 SH   SOLE   472,827 0 0
Mission Valley Bancorp Common 60520E104 2,725 201,842 SH   SOLE   201,842 0 0
Mountain Commerce Bancorp Common 624004107 15,300 544,095 SH   SOLE   544,095 0 0
MVB Financial Corp. Common 553810102 2,386 85,733 SH   SOLE   85,733 0 0
nCino, Inc. Common 63947X101 316 9,260 SH   SOLE   9,260 0 0
Nicolet Bankshares, Inc. Common 65406E102 74 1,056 SH   SOLE   1,056 0 0
Northway Financial, Inc. Common 667270201 4,363 166,138 SH   SOLE   166,138 0 0
Oak Ridge Financial Services, Inc. Common 671768109 1,232 66,364 SH   SOLE   66,364 0 0
Oak Valley Bancorp Common 671807105 4,824 269,960 SH   SOLE   269,960 0 0
Old Second Bancorp, Inc. Common 680277100 28,086 2,152,194 SH   SOLE   2,152,194 0 0
Open Lending Corporation Common 68373J104 275 34,220 SH   SOLE   34,220 0 0
Orange County Bancorp Common 68417L107 18,791 488,069 SH   SOLE   488,069 0 0
Oregon Pacific Bancorp Common 686040205 3,899 606,386 SH   SOLE   606,386 0 0
Origin Bancorp Inc. Common 68621T102 6,391 166,142 SH   SOLE   166,142 0 0
Pacific Financial Corporation Common 694275108 2,719 260,905 SH   SOLE   260,905 0 0
Pacific West Bank Common 69506W202 2,191 185,715 SH   SOLE   185,715 0 0
PacWest Bancorp Common 695263103 1,966 87,000 SH   SOLE   87,000 0 0
Paya Holdings Inc. Common 70434P103 520 85,104 SH   SOLE   85,104 0 0
Payoneer Global Inc Common 70451X104 83 13,700 SH   SOLE   13,700 0 0
Peapack-Gladstone Financial Corporation Common 704699107 26,109 775,890 SH   SOLE   775,890 0 0
Peoples Bancorp Common 70979X107 2,506 11,934 SH   SOLE   11,934 0 0
Pinnacle Bank Common 72346K107 3,207 277,682 SH   SOLE   277,682 0 0
Pinnacle Bankshares Corporation Common 72345E102 1,418 70,393 SH   SOLE   70,393 0 0
Potomac Bancshares, Inc. Common 737643106 747 41,492 SH   SOLE   41,492 0 0
Prime Meridian Holding Company Common 74164R107 6,202 241,776 SH   SOLE   241,776 0 0
Primis Financial Corporation Common 74167B109 18,317 1,510,093 SH   SOLE   1,510,093 0 0
Private Bancorp of America, Inc. Common 74274F100 8,749 299,097 SH   SOLE   299,097 0 0
Professional Holding Corp. Common 743139107 3,379 130,261 SH   SOLE   130,261 0 0
PSB Holdings, Inc. Common 69360N108 7,144 317,506 SH   SOLE   317,506 0 0
QNB Corp. Common 74726N107 3,415 126,526 SH   SOLE   126,526 0 0
Red River Bancshares, Inc. Common 75686R202 559 11,299 SH   SOLE   11,299 0 0
Republic First Bancorp, Inc. Common 760416107 2,839 1,003,081 SH   SOLE   1,003,081 0 0
River City Bank Common 76803X106 4,994 21,617 SH   SOLE   21,617 0 0
Riverview Bancorp, Inc. Common 769397100 1,645 259,007 SH   SOLE   259,007 0 0
Salisbury Bancorp, Inc. Common 795226109 2,077 86,672 SH   SOLE   86,672 0 0
Santa Cruz County Bank Common 801827106 14,228 605,467 SH   SOLE   605,467 0 0
Seacoast Banking Corporation of Florida Common 811707801 858 28,395 SH   SOLE   28,395 0 0
Shift4 Payments Common 82452J109 128 2,880 SH   SOLE   2,880 0 0
Shore Bancshares, Inc. Common 825107105 6,904 398,586 SH   SOLE   398,586 0 0
Sierra Bancorp Common 82620P102 3,190 161,544 SH   SOLE   161,544 0 0
Signature Bank Common 82669G104 1,389 9,200 SH   SOLE   9,200 0 0
Silvercrest Asset Management Group Inc. Common 828359109 3,324 203,286 SH   SOLE   203,286 0 0
Silvergate Capital Corporation Common 82837P408 1,154 15,320 SH   SOLE   15,320 0 0
Simmons First National Corp Common 828730200 437 20,035 SH   SOLE   20,035 0 0
SmartFinancial, Inc. Common 83190L208 16,783 679,185 SH   SOLE   679,185 0 0
South Atlantic Bancshares, Inc. Common 83636T104 6,350 423,608 SH   SOLE   423,608 0 0
South Plains Financial, Inc. Common 83946P107 494 17,919 SH   SOLE   17,919 0 0
Southern BancShares (N.C.), Inc. Common 842243107 6,661 1,445 SH   SOLE   1,445 0 0
Southern California Bancorp Common 84252A106 9,379 578,960 SH   SOLE   578,960 0 0
Southern First Bancshares, Inc. Common 842873101 17,795 427,153 SH   SOLE   427,153 0 0
Southern States Bancshares, Inc. Common 843878307 13,789 506,022 SH   SOLE   506,022 0 0
SouthPoint Bancshares, Inc. Common 844647107 3,320 108,704 SH   SOLE   108,704 0 0
Sterling Bancorp, Inc. Common 85917W102 3,027 502,061 SH   SOLE   502,061 0 0
Studio Bank Common 86389R100 963 74,074 SH   SOLE   74,074 0 0
Summit Bank Group, Inc. Common 86603R100 308 22,593 SH   SOLE   22,593 0 0
Summit State Bank Common 866264203 3,001 206,850 SH   SOLE   206,850 0 0
Surrey Bancorp Common 86888W105 865 61,785 SH   SOLE   61,785 0 0
Texas Capital Bancshares, Inc. Common 88224Q107 14,427 244,405 SH   SOLE   244,405 0 0
The Bancorp, Inc. Common 05969A105 1,189 54,092 SH   SOLE   54,092 0 0
Third Coast Bancshares Common 88422P109 5,235 305,981 SH   SOLE   305,981 0 0
Traditions Bancorp, Inc. Common 89269L102 4,389 222,235 SH   SOLE   222,235 0 0
Tri City Bankshares Corporation Common 895364107 2,926 172,141 SH   SOLE   172,141 0 0
Triumph Bancorp, Inc. Common 89679E300 18,013 331,418 SH   SOLE   331,418 0 0
Two Rivers Financial Group, Inc. Common 90206L106 2,836 66,729 SH   SOLE   66,729 0 0
United Bancorporation of Alabama, Inc. Common 90944R100 3,849 137,700 SH   SOLE   137,700 0 0
United Security Bankshares Common 911460103 196 30,000 SH   SOLE   30,000 0 0
Unity Bancorp, Inc. Common 913290102 22,457 894,342 SH   SOLE   894,342 0 0
USCB Financial Holdings Inc. Common 90355N101 3,671 280,000 SH   SOLE   280,000 0 0
Veritex Holdings, Inc. Common 923451108 1,276 48,000 SH   SOLE   48,000 0 0
Village Bank and Trust Financial Corp. Common 92705T200 1,100 22,838 SH   SOLE   22,838 0 0
Virginia National Bankshares Corp. Common 928031103 1,277 39,357 SH   SOLE   39,357 0 0
W.T.B. Financial Corporation Common 929334209 4,801 13,957 SH   SOLE   13,957 0 0
Westbury Bancorp, Inc. Common 95727P106 1,783 63,231 SH   SOLE   63,231 0 0
WEX Inc. Common 96208T104 1,264 9,955 SH   SOLE   9,955 0 0
White River Bancshares Company Common 96445A108 3,622 45,650 SH   SOLE   45,650 0 0