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
1st Capital Bancorp Common 319427100   4,461 410,761 SH   SOLE   410,761 0 0
1st Colonial Bancorp Common 319716106   3,635 259,644 SH   SOLE   259,644 0 0
Alerus Financial Corporation Common 01446U103   13,614 583,022 SH   SOLE   583,022 0 0
Alpine Banks of Colorado Common 020810107   14,390 436,053 SH   SOLE   436,053 0 0
AMB Financial Corp. Common 001984103   226 10,762 SH   SOLE   10,762 0 0
American Business Bank Common 02475L105   23,827 598,663 SH   SOLE   598,663 0 0
American National Bankshares Inc. Common 027745108   1,387 37,549 SH   SOLE   37,549 0 0
American Riviera Bancorp Common 02933K103   6,820 401,196 SH   SOLE   401,196 0 0
Avidbank Holdings, Inc. Common 05368J103   13,780 665,697 SH   SOLE   665,697 0 0
Banc of California, Inc. Common 05990K106   10,791 677,412 SH   SOLE   677,412 0 0
Bank of Botetourt Common 063907208   1,415 49,824 SH   SOLE   49,824 0 0
Bank of the James Financial Group, Inc. Common 470299108   2,257 189,470 SH   SOLE   189,470 0 0
Bank7 Corp Common 06652N107   9,856 385,000 SH   SOLE   385,000 0 0
Bankwell Financial Group, Inc. Common 06654A103   8,141 276,623 SH   SOLE   276,623 0 0
Bay Community Bancorp Common 072205107   5,860 651,106 SH   SOLE   651,106 0 0
BayFirst Financial Corp. Common 07279B104   2,234 133,593 SH   SOLE   133,593 0 0
BCB Bancorp, Inc. Common 055298103   1,376 76,496 SH   SOLE   76,496 0 0
Blue Ridge Bankshares, Inc. Common 095825105   14,081 1,127,414 SH   SOLE   1,127,414 0 0
Blueharbor Bank Common 095613105   2,701 161,283 SH   SOLE   161,283 0 0
Bridgewater Bancshares, Inc. Common 108621103   1,500 84,568 SH   SOLE   84,568 0 0
Business First Bancshares, Inc. Common 12326C105   10,583 478,003 SH   SOLE   478,003 0 0
Byline Bancorp, Inc. Common 124411109   13,068 568,923 SH   SOLE   568,923 0 0
California BanCorp Common 13005U101   14,851 624,501 SH   SOLE   624,501 0 0
Cambridge Bancorp Common 132152109   7,353 88,528 SH   SOLE   88,528 0 0
Capital Bancorp, Inc. Common 139737100   1,156 49,122 SH   SOLE   49,122 0 0
CapStar Financial Holdings, Inc. Common 14070T102   5,176 293,081 SH   SOLE   293,081 0 0
Cashmere Valley Bank Common 14756K102   2,193 48,787 SH   SOLE   48,787 0 0
CCB Financial Common 19046P209   1,759 37,022 SH   SOLE   37,022 0 0
Centric Financial Corporation Common 15641J101   7,078 470,293 SH   SOLE   470,293 0 0
Chino Commercial Bancorp Common 16957L102   1,593 115,879 SH   SOLE   115,879 0 0
Citizens Community Bancorp, Inc. Common 174903104   10,530 875,331 SH   SOLE   875,331 0 0
CNB Corporation Common 12612R105   679 14,348 SH   SOLE   14,348 0 0
CNB Financial Corporation Common 126128107   11,828 497,188 SH   SOLE   497,188 0 0
Coastal Carolina Bancshares, Inc. Common 190435107   3,071 296,992 SH   SOLE   296,992 0 0
CoastalSouth Bancshares, Inc. Common 19058X207   3,857 214,258 SH   SOLE   214,258 0 0
Codorus Valley Bancorp, Inc. Common 192025104   2,716 114,121 SH   SOLE   114,121 0 0
Colony Bankcorp Inc. Common 19623P101   14,023 1,105,072 SH   SOLE   1,105,072 0 0
Commencement Bancorp, Inc. Common 20051D107   3,141 272,860 SH   SOLE   272,860 0 0
Community Bancorp of Santa Maria Common 20344R103   607 60,100 SH   SOLE   60,100 0 0
Community Financial Corporation Common 20368X101   1,067 26,732 SH   SOLE   26,732 0 0
Community First Bancorporation Common 203916101   802 113,744 SH   SOLE   113,744 0 0
Community Heritage Financial Inc. Common 20370L103   4,106 206,558 SH   SOLE   206,558 0 0
ConnectOne Bancorp, Inc. Common 20786W107   15,059 622,006 SH   SOLE   622,006 0 0
Cornerstone Financial Corporation Common 21925G201   1,658 150,000 SH   SOLE   150,000 0 0
CrossFirst Bankshares, Inc. Common 22766M109   19,735 1,590,289 SH   SOLE   1,590,289 0 0
Crystal Valley Financial Common 22941P100   983 16,800 SH   SOLE   16,800 0 0
Dime Community Bancshares, Inc Common 25432X102   6,932 217,777 SH   SOLE   217,777 0 0
Eagle Financial Services Inc. Common 26951R104   1,676 46,620 SH   SOLE   46,620 0 0
Enterprise Bancorp, Inc. Common 293668109   9,700 274,776 SH   SOLE   274,776 0 0
Equity Bancshares, Inc. Common 29460X109   4,518 138,292 SH   SOLE   138,292 0 0
ES Bancshares, Inc. Common 296049109   1,755 410,045 SH   SOLE   410,045 0 0
FB Financial Corp. Common 30257X104   2,751 76,129 SH   SOLE   76,129 0 0
Fentura Financial, Inc. Common 314645102   7,729 348,149 SH   SOLE   348,149 0 0
FineMark Holdings, Inc. Common 31788B108   24,634 828,044 SH   SOLE   828,044 0 0
First Bancshares, Inc. Common 318916103   4,556 142,318 SH   SOLE   142,318 0 0
First Bank Common 31931U102   17,664 1,283,721 SH   SOLE   1,283,721 0 0
First Business Financial Services Common 319390100   16,765 458,694 SH   SOLE   458,694 0 0
First Capital Bancshares, Inc. Common 31941G101   2,068 232,396 SH   SOLE   232,396 0 0
First Citrus Bancorporation, Inc. Common 31959T102   1,787 37,745 SH   SOLE   37,745 0 0
First Community Corporation Common 319835104   6,939 317,011 SH   SOLE   317,011 0 0
First Farmers and Merchants Corporation Common 320148109   1,100 42,538 SH   SOLE   42,538 0 0
First Foundation Inc. Common 32026V104   18,643 1,300,971 SH   SOLE   1,300,971 0 0
First Internet Bancorp Common 320557101   9,461 389,667 SH   SOLE   389,667 0 0
First National Corporation Common 32106V107   3,822 223,120 SH   SOLE   223,120 0 0
First Northern Community Bancorp Common 335925103   6,675 824,016 SH   SOLE   824,016 0 0
First Reliance Bancshares, Inc. Common 33615Q100   5,766 661,227 SH   SOLE   661,227 0 0
First Southern Bank Common 33650R104   1,776 196,250 SH   SOLE   196,250 0 0
First Virginia Community Bank Common 36120Q101   2,676 140,310 SH   SOLE   140,310 0 0
First Western Financial, Inc. Common 33751L105   20,504 728,386 SH   SOLE   728,386 0 0
FirstSun Capital Bancorp Common 33767U107   7,924 217,397 SH   SOLE   217,397 0 0
Five Star Bancorp Common 33830T103   3,765 138,200 SH   SOLE   138,200 0 0
Foresight Financial Group, Inc. Common 345526107   4,045 147,098 SH   SOLE   147,098 0 0
Franklin Financial Services Corp. Common 353525108   3,061 84,796 SH   SOLE   84,796 0 0
Grand River Commerce, Inc. Common 386441109   3,610 656,336 SH   SOLE   656,336 0 0
GrandSouth Bancorporation Common 386627301   71 1,825 SH   SOLE   1,825 0 0
Hanover Bancorp Inc. Common 410710206   4,087 200,450 SH   SOLE   200,450 0 0
HBT Financial, Inc. Common 404111106   18,816 961,494 SH   SOLE   961,494 0 0
Heritage Commerce Corp Common 426927109   7,185 552,721 SH   SOLE   552,721 0 0
i3 Verticals, Inc. Common 46571Y107   859 35,300 SH   SOLE   35,300 0 0
InBankshares, Corp Common 45332V105   131 16,643 SH   SOLE   16,643 0 0
Investar Holding Corporation Common 46134L105   12,330 572,699 SH   SOLE   572,699 0 0
John Marshall Bank Common 47805L101   386 13,400 SH   SOLE   13,400 0 0
Lakeland Bancorp, Inc. Common 511637100   24,798 1,408,192 SH   SOLE   1,408,192 0 0
Lewis & Clark Bancorp Common 52757L109   26 729 SH   SOLE   729 0 0
Limestone Bancorp, Inc. Common 53262L105   9,418 385,678 SH   SOLE   385,678 0 0
LinkBancorp Common 53578P105   9,387 1,004,000 SH   SOLE   1,004,000 0 0
Live Oak Bancshares Common 53803X105   385 12,750 SH   SOLE   12,750 0 0
MainStreet Bancshares, Inc. Common 56064Y100   16,807 611,372 SH   SOLE   611,372 0 0
Malaga Financial Corporation Common 561046103   2,264 98,385 SH   SOLE   98,385 0 0
Malvern Bancorp, Inc. Common 561409103   7,659 431,512 SH   SOLE   431,512 0 0
McHenry Bancorp, Inc. Common 580683209   2,105 60,000 SH   SOLE   60,000 0 0
Mercantile Bank Corporation Common 587376104   16,511 493,158 SH   SOLE   493,158 0 0
Merchants Bancorp Common 58844R108   12,240 503,300 SH   SOLE   503,300 0 0
Merchants Financial Group, Inc. Common 588538108   8,313 285,684 SH   SOLE   285,684 0 0
Meridian Bank Common 58958P104   11,036 364,344 SH   SOLE   364,344 0 0
Metropolitan Bank Holding Corp. Common 591774104   11,697 199,364 SH   SOLE   199,364 0 0
Mid Penn Bank Common 59540G107   13,781 459,827 SH   SOLE   459,827 0 0
Mission Valley Bancorp Common 60520E104   2,532 192,542 SH   SOLE   192,542 0 0
Mountain Commerce Bancorp Common 624004107   15,681 565,095 SH   SOLE   565,095 0 0
MVB Financial Corp. Common 553810102   1,888 85,733 SH   SOLE   85,733 0 0
nCino, Inc. Common 63947X101   245 9,260 SH   SOLE   9,260 0 0
Northway Financial, Inc. Common 667270201   3,414 166,138 SH   SOLE   166,138 0 0
Oak Ridge Financial Services, Inc. Common 671768109   1,293 66,364 SH   SOLE   66,364 0 0
Oak Valley Bancorp Common 671807105   6,027 266,080 SH   SOLE   266,080 0 0
Old Second Bancorp, Inc. Common 680277100   32,903 2,051,310 SH   SOLE   2,051,310 0 0
Open Lending Corporation Common 68373J104   231 34,220 SH   SOLE   34,220 0 0
Orange County Bancorp Common 68417L107   22,734 488,069 SH   SOLE   488,069 0 0
Oregon Pacific Bancorp Common 686040205   4,505 621,386 SH   SOLE   621,386 0 0
Origin Bancorp Inc. Common 68621T102   6,097 166,142 SH   SOLE   166,142 0 0
Pacific Financial Corporation Common 694275108   384 35,905 SH   SOLE   35,905 0 0
Pacific West Bancorp Common 69506J102   2,043 185,715 SH   SOLE   185,715 0 0
PacWest Bancorp Common 695263103   8,110 353,362 SH   SOLE   353,362 0 0
Paya Holdings Inc. Common 70434P103   670 85,104 SH   SOLE   85,104 0 0
Payoneer Global Inc Common 70451X104   75 13,700 SH   SOLE   13,700 0 0
Peapack-Gladstone Financial Corporation Common 704699107   27,245 731,999 SH   SOLE   731,999 0 0
Peoples Bancorp Common 70979X107   2,287 11,434 SH   SOLE   11,434 0 0
Pinnacle Bank Common 72346K107   3,924 291,318 SH   SOLE   291,318 0 0
Pinnacle Bankshares Corporation Common 72345E102   1,352 70,393 SH   SOLE   70,393 0 0
Potomac Bancshares, Inc. Common 737643106   678 41,492 SH   SOLE   41,492 0 0
Prime Meridian Holding Company Common 74164R107   5,996 241,776 SH   SOLE   241,776 0 0
Primis Financial Corporation Common 74167B109   19,298 1,628,521 SH   SOLE   1,628,521 0 0
Princeton Bancorp, Inc. Common 74179A107   8,965 282,631 SH   SOLE   282,631 0 0
Private Bancorp of America, Inc. Common 74274F100   9,623 297,097 SH   SOLE   297,097 0 0
Professional Holding Corp. Common 743139107   2,761 99,544 SH   SOLE   99,544 0 0
PSB Holdings, Inc. Common 69360N108   6,953 317,506 SH   SOLE   317,506 0 0
QNB Corp. Common 74726N107   3,331 126,526 SH   SOLE   126,526 0 0
Republic First Bancorp, Inc. Common 760416107   2,157 1,003,081 SH   SOLE   1,003,081 0 0
River City Bank Common 76803X106   5,188 21,617 SH   SOLE   21,617 0 0
Riverview Bancorp, Inc. Common 769397100   1,989 259,007 SH   SOLE   259,007 0 0
Salisbury Bancorp, Inc. Common 795226109   1,572 50,072 SH   SOLE   50,072 0 0
Santa Cruz County Bank Common 801827106   15,092 602,467 SH   SOLE   602,467 0 0
Shift4 Payments Common 82452J109   161 2,880 SH   SOLE   2,880 0 0
Shore Bancshares, Inc. Common 825107105   6,947 398,586 SH   SOLE   398,586 0 0
Sierra Bancorp Common 82620P102   9,058 426,478 SH   SOLE   426,478 0 0
Signature Bank Common 82669G104   1,060 9,200 SH   SOLE   9,200 0 0
Silvercrest Asset Management Group Inc. Common 828359109   3,816 203,286 SH   SOLE   203,286 0 0
Silvergate Capital Corporation Common 82837P408   267 15,320 SH   SOLE   15,320 0 0
SmartFinancial, Inc. Common 83190L208   16,490 599,648 SH   SOLE   599,648 0 0
South Atlantic Bancshares, Inc. Common 83636T104   5,849 430,078 SH   SOLE   430,078 0 0
Southern BancShares (N.C.), Inc. Common 842243107   6,936 1,445 SH   SOLE   1,445 0 0
Southern California Bancorp Common 84252A106   8,616 511,960 SH   SOLE   511,960 0 0
Southern First Bancshares, Inc. Common 842873101   19,542 427,153 SH   SOLE   427,153 0 0
Southern States Bancshares, Inc. Common 843878307   14,649 506,022 SH   SOLE   506,022 0 0
SouthPoint Bancshares, Inc. Common 844647107   3,351 108,704 SH   SOLE   108,704 0 0
Sterling Bancorp, Inc. Common 85917W102   3,058 502,061 SH   SOLE   502,061 0 0
Studio Bank Common 86389R100   941 74,074 SH   SOLE   74,074 0 0
Summit Bank Group, Inc. Common 86603R100   863 61,893 SH   SOLE   61,893 0 0
Summit State Bank Common 866264203   6,752 427,371 SH   SOLE   427,371 0 0
Surrey Bancorp Common 86888W105   376 15,668 SH   SOLE   15,668 0 0
Texas Capital Bancshares, Inc. Common 88224Q107   14,740 244,405 SH   SOLE   244,405 0 0
The Bancorp, Inc. Common 05969A105   1,535 54,092 SH   SOLE   54,092 0 0
Third Coast Bancshares Common 88422P109   8,918 483,865 SH   SOLE   483,865 0 0
Traditions Bancorp, Inc. Common 89269L102   4,156 222,235 SH   SOLE   222,235 0 0
Tri City Bankshares Corporation Common 895364107   2,582 172,141 SH   SOLE   172,141 0 0
Triumph Bancorp, Inc. Common 89679E300   16,196 331,418 SH   SOLE   331,418 0 0
Two Rivers Financial Group, Inc. Common 90206L106   2,093 50,428 SH   SOLE   50,428 0 0
United Bancorporation of Alabama, Inc. Common 90944R100   4,706 133,700 SH   SOLE   133,700 0 0
United Security Bankshares Common 911460103   256 35,000 SH   SOLE   35,000 0 0
Unity Bancorp, Inc. Common 913290102   25,990 950,967 SH   SOLE   950,967 0 0
USCB Financial Holdings Inc. Common 90355N101   3,416 280,000 SH   SOLE   280,000 0 0
Veritex Holdings, Inc. Common 923451108   7,020 250,000 SH   SOLE   250,000 0 0
Village Bank and Trust Financial Corp. Common 92705T200   1,188 22,838 SH   SOLE   22,838 0 0
Virginia National Bankshares Corp. Common 928031103   1,443 39,357 SH   SOLE   39,357 0 0
W.T.B. Financial Corporation Common 929334209   3,840 11,257 SH   SOLE   11,257 0 0
WEX Inc. Common 96208T104   1,629 9,955 SH   SOLE   9,955 0 0
White River Bancshares Company Common 96445A108   3,596 47,565 SH   SOLE   47,565 0 0