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
ACADIA RLTY TR COM SH BEN INT 004239109 BBG000BJGD54 1,716,059 73,086 SH   SOLE   73,086 0 0
ACI WORLDWIDE INC COM 004498101 BBG000PMBV39 805,798 15,831 SH   SOLE   15,831 0 0
AFFILIATED MANAGERS GROUP IN COM 008252108 BBG000C060M4 409,118 2,301 SH   SOLE   2,301 0 0
ALLSTATE CORP COM 020002101 BBG000BVMGF2 2,898,800 15,285 SH   SOLE   15,285 0 0
AMERICAN HEALTHCARE REIT INC COM SHS 398182303 BBG01L820CZ4 575,844 22,063 SH   SOLE   22,063 0 0
AMERICOLD REALTY TRUST INC COM 03064D108 BBG000QF05R6 208,859 7,388 SH   SOLE   7,388 0 0
AMERIPRISE FINL INC COM 03076C106 BBG000G3QLY3 910,022 1,937 SH   SOLE   1,937 0 0
AMERIS BANCORP COM 03076K108 BBG000CDY3H5 25,112,537 402,509 SH   SOLE   402,509 0 0
ANNALY CAPITAL MANAGEMENT IN COM NEW 035710839 BBG000BJFJ98 1,831,990 91,280 SH   SOLE   91,280 0 0
APOLLO GLOBAL MGMT INC COM 03769M106 BBG00ZNLTFK3 597,195 4,781 SH   SOLE   4,781 0 0
ARCH CAP GROUP LTD ORD G0450A105 BBG000HXNN20 2,287,051 20,442 SH   SOLE   20,442 0 0
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101 BBG0068KVV91 1,528,011 9,805 SH   SOLE   9,805 0 0
BANC OF CALIFORNIA INC COM 05990K106 BBG000F7VG25 32,107,305 2,179,722 SH   SOLE   2,179,722 0 0
BAYCOM CORP COM 07272M107 BBG00FWKRBS2 1,537,910 64,836 SH   SOLE   64,836 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 BBG000BGKJ70 803,724 42,279 SH   SOLE   42,279 0 0
BRIDGE INVT GROUP HLDGS INC COM CL A 10806B100 BBG011KG5WQ4 638,480 64,689 SH   SOLE   64,689 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 BBG000BFYGX4 23,133,030 2,292,669 SH   SOLE   2,292,669 0 0
BROWN & BROWN INC COM 115236101 BBG001S5XFN0 2,893,444 27,929 SH   SOLE   27,929 0 0
CALIFORNIA BANCORP COM 84252A106 BBG000QJ8KD2 2,103,907 142,252 SH   SOLE   142,252 0 0
CHIMERA INVT CORP COM SHS 16934Q802 BBG000PFLGY2 430,513 27,196 SH   SOLE   27,196 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 BBG000NFKDB7 11,641,987 821,594 SH   SOLE   821,594 0 0
COLUMBIA BKG SYS INC COM 197236102 BBG000CTGXS2 9,370,305 358,878 SH   SOLE   358,878 0 0
COMERICA INC COM 200340107 BBG000C75N77 17,490,125 291,940 SH   SOLE   291,940 0 0
DYNEX CAP INC COM 26817Q886 BBG000FBJQM6 937,949 73,507 SH   SOLE   73,507 0 0
EASTERN BANKSHARES INC COM 27627N105 BBG00W9KWXC4 7,214,649 440,186 SH   SOLE   440,186 0 0
ELEVANCE HEALTH INC COM 036752103 BBG000BCG930 3,365,440 6,472 SH   SOLE   6,472 0 0
ENOVA INTL INC COM 29357K103 BBG0022PSJ14 2,966,585 35,405 SH   SOLE   35,405 0 0
EQUIFAX INC COM 294429105 BBG000BHPL78 918,900 3,127 SH   SOLE   3,127 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 BBG000QKJS40 41,990,178 1,027,157 SH   SOLE   1,027,157 0 0
ESSA BANCORP INC COM 29667D104 BBG000R3PVY0 18,105,086 941,992 SH   SOLE   941,992 0 0
ESSENT GROUP LTD COM G3198U102 BBG0058YL7G9 4,040,755 62,852 SH   SOLE   62,852 0 0
EVANS BANCORP INC COM NEW 29911Q208 BBG0058YL7G9 19,232,085 493,510 SH   SOLE   493,510 0 0
EVERQUOTE INC COM CL A 30041R108 BBG00F17NDH7 542,182 25,708 SH   SOLE   25,708 0 0
FACTSET RESH SYS INC COM 303075105 BBG000BDJL83 589,528 1,282 SH   SOLE   1,282 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 BBG006N7S6K9 2,715,373 43,754 SH   SOLE   43,754 0 0
FIFTH DIST BANCORP INC COM 316926104 BBG01P1ZYS41 5,742,730 553,783 SH   SOLE   553,783 0 0
FIRST BANCSHARES INC MISS COM 318916103 BBG000BHWFN5 5,374,514 167,274 SH   SOLE   167,274 0 0
FIRST CMNTY CORP S C COM 319835104 BBG000BRD351 8,341,468 389,061 SH   SOLE   389,061 0 0
FIRST INDL RLTY TR INC COM 32054K103 BBG000CKGDS5 1,159,290 20,709 SH   SOLE   20,709 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 BBG000FPK736 9,392,378 394,472 SH   SOLE   394,472 0 0
FIRST WESTN FINL INC COM 33751L105 BBG000BK7L26 2,112,220 105,611 SH   SOLE   105,611 0 0
FIVE STAR BANCORP COM 33830T103 BBG000QJZ0P3 18,506,003 622,469 SH   SOLE   622,469 0 0
FORESTAR GROUP INC COM 346232101 BBG000BB1YV2 2,341,549 72,337 SH   SOLE   72,337 0 0
FVCBANKCORP INC COM 36120Q101 BBG000DS5RF2 22,316,792 1,710,099 SH   SOLE   1,710,099 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 BBG003MSMCS6 201,890 3,924 SH   SOLE   3,924 0 0
GETTY RLTY CORP NEW COM 374297109 BBG000BB94N9 368,392 11,581 SH   SOLE   11,581 0 0
GLOBE LIFE INC COM 37959E102 BBG000BVD6X4 1,615,657 15,255 SH   SOLE   15,255 0 0
GOLUB CAP BDC INC COM 38173M102 BBG000PXNF64 1,406,152 93,061 SH   SOLE   93,061 0 0
GOOSEHEAD INS INC COM CL A 38267D109 BBG00KHHBMC5 2,368,147 26,519 SH   SOLE   26,519 0 0
HAMILTON LANE INC CL A 407497106 BBG00FX58Q66 601,489 3,572 SH   SOLE   3,572 0 0
HANOVER INS GROUP INC COM 410867105 BBG000FJH8W0 813,272 5,491 SH   SOLE   5,491 0 0
HAWTHORN BANCSHARES INC COM 420476103 BBG000BHQP32 12,680,799 506,624 SH   SOLE   506,624 0 0
HCI GROUP INC COM 40416E103 BBG000F4DVC8 4,022,030 37,568 SH   SOLE   37,568 0 0
HERITAGE COMM CORP COM 426927109 BBG000C48437 35,919,432 3,635,570 SH   SOLE   3,635,570 0 0
HIGHWOODS PPTYS INC COM 431284108 BBG000C43744 238,792 7,126 SH   SOLE   7,126 0 0
HMN FINL INC COM 40424G108   11,074,738 396,944 SH   SOLE   396,944 0 0
HOME BANCORP INC COM 43689E107 BBG000J31X35 35,133,765 788,106 SH   SOLE   788,106 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 BBG000QSM8F1 439,312 34,866 SH   SOLE   34,866 0 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5W70 58,329,249 1,711,539 SH   SOLE   1,711,539 0 0
INDEPENDENT BANK GROUP INC COM 45384B106 BBG003981NS4 56,901,540 986,846 SH   SOLE   986,846 0 0
INDEPENDENT BK CORP MICH COM NEW 453838609 BBG000BLN9N0 26,858,989 805,367 SH   SOLE   805,367 0 0
INTL GNRL INSURANCE HLDNGS L SHS G4809J106 BBG00QX7WLC5 452,675 23,825 SH   SOLE   23,825 0 0
INVITATION HOMES INC COM 46187W107 BBG00FQH6BS9 529,499 15,017 SH   SOLE   15,017 0 0
JANUS HENDERSON GROUP PLC ORD SHS G4474Y214 BBG00GSNPM07 806,018 21,172 SH   SOLE   21,172 0 0
JEFFERIES FINL GROUP INC COM 47233W109 BBG000BNHSP9 1,344,314 21,841 SH   SOLE   21,841 0 0
JOHN MARSHALL BANCORP INC COM 47805L101 BBG000LM3ZW1 2,197,222 111,083 SH   SOLE   111,083 0 0
JONES LANG LASALLE INC COM 48020Q107 BBG000C2L2L0 4,136,997 15,333 SH   SOLE   15,333 0 0
JPMORGAN CHASE & CO. COM 46625H100 BBG000DMBXR2 1,005,170 4,767 SH   SOLE   4,767 0 0
KEMPER CORP COM 488401100 BBG000H3GDJ8 2,092,974 34,171 SH   SOLE   34,171 0 0
KKR & CO INC COM 48251W104 BBG000BCQ6J8 639,711 4,899 SH   SOLE   4,899 0 0
LINKBANCORP INC COM 53578P105 BBG00M69LH40 18,603,672 2,902,289 SH   SOLE   2,902,289 0 0
M/I HOMES INC COM 55305B101 BBG000BL9MZ4 3,677,900 21,463 SH   SOLE   21,463 0 0
MAIN STR CAP CORP COM 56035L104 BBG000BXT422 1,086,233 21,664 SH   SOLE   21,664 0 0
MASTERCARD INCORPORATED CL A 57636Q104 BBG000F1ZSQ2 668,111 1,353 SH   SOLE   1,353 0 0
MIDCAP FINANCIAL INVSTMNT CO COM NEW 03761U502 BBG000CBNX94 1,236,111 92,316 SH   SOLE   92,316 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 BBG000BQVV88 17,200,024 602,875 SH   SOLE   602,875 0 0
MR COOPER GROUP INC COM 62482R107 BBG002V098F7 4,303,239 46,683 SH   SOLE   46,683 0 0
MSCI INC COM 55354G100 BBG000RTDY25 282,721 485 SH   SOLE   485 0 0
OLD NATL BANCORP IND COM 680033107 BBG000KFW1C2 10,206,255 546,959 SH   SOLE   546,959 0 0
OLD POINT FINL CORP COM 680194107 BBG000BSBQ78 5,383,962 278,673 SH   SOLE   278,673 0 0
OLD SECOND BANCORP INC ILL COM 680277100 BBG000BLFSZ4 29,168,703 1,870,988 SH   SOLE   1,870,988 0 0
P10 INC COM CL A 69376K106 BBG012QFRJQ3 1,362,665 127,233 SH   SOLE   127,233 0 0
PALOMAR HLDGS INC COM 69753M105 BBG00NLMRY30 2,630,217 27,783 SH   SOLE   27,783 0 0
PERELLA WEINBERG PARTNERS CLASS A COM 71367G102 BBG00XWZGGH3 2,620,367 135,700 SH   SOLE   135,700 0 0
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201 BBG011RJSSB1 1,074,169 28,485 SH   SOLE   28,485 0 0
PIONEER BANCORP INC MD COM 723561106 BBG00PFB4RR0 8,814,713 803,529 SH   SOLE   803,529 0 0
POPULAR INC COM NEW 733174700 BBG000BDNB35 623,780 6,221 SH   SOLE   6,221 0 0
PROGRESSIVE CORP COM 743315103 BBG000BR37X2 2,016,884 7,948 SH   SOLE   7,948 0 0
PROSPERITY BANCSHARES INC COM 743606105 BBG000BHY4D9 8,403,218 116,598 SH   SOLE   116,598 0 0
PUBLIC STORAGE OPER CO COM 74460D109 BBG000BPPN67 439,555 1,208 SH   SOLE   1,208 0 0
QCR HOLDINGS INC COM 74727A104 BBG000BYZSM8 24,827,737 335,374 SH   SOLE   335,374 0 0
QUINSTREET INC COM 74874Q100 BBG000S9XXB8 612,849 32,036 SH   SOLE   32,036 0 0
RBB BANCORP COM 74930B105 BBG002537TC9 39,731,254 1,725,945 SH   SOLE   1,725,945 0 0
REALTY INCOME CORP COM 756109104 BBG000DHPN63 833,212 13,138 SH   SOLE   13,138 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 BBG000BDLCQ0 2,144,494 9,843 SH   SOLE   9,843 0 0
RIVERVIEW BANCORP INC COM 769397100 BBG000BGZL88 10,237,510 2,173,569 SH   SOLE   2,173,569 0 0
ROCKET COS INC COM CL A 77311W101 BBG00VY1MYW7 1,344,298 70,052 SH   SOLE   70,052 0 0
S&P GLOBAL INC COM 78409V104 BBG000BP1Q11 1,003,793 1,943 SH   SOLE   1,943 0 0
SB FINL GROUP INC COM 78408D105 BBG000BJQTT2 7,679,592 373,521 SH   SOLE   373,521 0 0
SHIFT4 PMTS INC CL A 82452J109 BBG00TX393L4 744,151 8,399 SH   SOLE   8,399 0 0
SHORE BANCSHARES INC COM 825107105 BBG000BS3PL3 975,187 69,706 SH   SOLE   69,706 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 BBG000BSTBM5 17,606,494 817,386 SH   SOLE   817,386 0 0
SKYWARD SPECIALTY INS GROUP COM 830940102 BBG002QHKLM6 1,132,375 27,802 SH   SOLE   27,802 0 0
SOUND FINL BANCORP INC COM 83607A100 BBG000BD3F92 6,359,331 118,866 SH   SOLE   118,866 0 0
SOUTHERN FIRST BANCSHARES COM 842873101 BBG000C0C4Q5 27,510,160 807,223 SH   SOLE   807,223 0 0
SOUTHERN MO BANCORP INC COM 843380106 BBG000C3ZNH2 24,385,999 431,687 SH   SOLE   431,687 0 0
SOUTHSTATE CORPORATION COM 840441109 BBG000BNPYN9 10,530,036 108,356 SH   SOLE   108,356 0 0
STEPSTONE GROUP INC COM CL A 85914M107 BBG00WXXV032 907,461 15,968 SH   SOLE   15,968 0 0
STERLING BANCORP INC COM 85917W102 BBG00328QCC5 19,513,744 4,288,735 SH   SOLE   4,288,735 0 0
STIFEL FINL CORP COM 860630102 BBG000BSS5C0 3,538,903 37,688 SH   SOLE   37,688 0 0
SUN LIFE FINANCIAL INC. COM 866796105 BBG000LRMSB8 1,079,578 18,607 SH   SOLE   18,607 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 BBG003PGJHP5 4,864,451 69,235 SH   SOLE   69,235 0 0
TFS FINL CORP COM 87240R107 BBG000F7GST7 4,225,449 328,573 SH   SOLE   328,573 0 0
TPG RE FIN TR INC COM 87266M107 BBG00GKJ8C78 374,552 43,910 SH   SOLE   43,910 0 0
VICI PPTYS INC COM 925652109 BBG00HVVB499 1,344,991 40,378 SH   SOLE   40,378 0 0
VOYA FINANCIAL INC COM 929089100 BBG000BCWKD6 1,019,245 12,866 SH   SOLE   12,866 0 0
WELLTOWER INC COM 95040Q104 BBG000BKY1G5 2,642,795 20,642 SH   SOLE   20,642 0 0
WESBANCO INC COM 950810101 BBG000BX0BJ9 10,415,466 349,747 SH   SOLE   349,747 0 0
WESTERN ALLIANCE BANCORP COM 957638109 BBG000Q1KFH4 22,425,992 259,290 SH   SOLE   259,290 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 BBG000DB3KT1 3,357,347 11,399 SH   SOLE   11,399 0 0