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
APARTMENT INVT & MGMT CO CL A 03748R747   971,124 126,284 SH   SOLE NONE 126,284 0 0
ALERUS FINL CORP COM 01446U103   3,095,997 192,897 SH   SOLE NONE 192,897 0 0
BANC OF CALIFORNIA INC COM 05990K106   18,449,047 1,472,390 SH   SOLE NONE 1,472,390 0 0
BILL COM HLDGS INC COM 090043100   1,965,049 24,218 SH   SOLE NONE 24,218 0 0
BYLINE BANCORP INC COM 124411109   463,598 21,443 SH   SOLE NONE 21,443 0 0
CALIFORNIA BANCORP INC COM 13005U101   15,763,729 807,982 SH   SOLE NONE 807,982 0 0
CAMBRIDGE BANCORP COM 132152109   9,268,348 143,008 SH   SOLE NONE 143,008 0 0
CB FINL SVCS INC COM 12479G101   2,410,266 111,021 SH   SOLE NONE 111,021 0 0
COASTAL FINL CORP WA COM NEW 19046P209   26,306,205 730,525 SH   SOLE NONE 730,525 0 0
CROWN CASTLE INC COM 22822V101   1,796,267 13,421 SH   SOLE NONE 13,421 0 0
CONNECTONE BANCORP INC COM 20786W107   3,033,393 171,572 SH   SOLE NONE 171,572 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   2,009,020 167,558 SH   SOLE NONE 167,558 0 0
EASTERN BANKSHARES INC COM 27627N105   521,686 41,338 SH   SOLE NONE 41,338 0 0
EVANS BANCORP INC COM NEW 29911Q208   5,318,072 158,441 SH   SOLE NONE 158,441 0 0
FIRST BANCSHARES INC MS COM 318916103   1,829,074 70,812 SH   SOLE NONE 70,812 0 0
FLYWIRE CORPORATION COM VTG 302492103   1,157,371 39,420 SH   SOLE NONE 39,420 0 0
FINWARD BANCORP COM 31812F109   2,896,701 99,543 SH   SOLE NONE 99,543 0 0
FVCBANKCORP INC COM 36120Q101   13,329,561 1,251,602 SH   SOLE NONE 1,251,602 0 0
HERITAGE COMM CORP COM 426927109   4,542,399 545,306 SH   SOLE NONE 545,306 0 0
INDEPENDENCE RLTY TR INC COM 45378A106   721,574 45,014 SH   SOLE NONE 45,014 0 0
MID PENN BANCORP INC COM 59540G107   2,767,186 108,051 SH   SOLE NONE 108,051 0 0
MVB FINL CORP COM 553810102   9,449,756 457,837 SH   SOLE NONE 457,837 0 0
NORTHEAST BK LEWISTON ME COM 66405S100   7,031,742 208,905 SH   SOLE NONE 208,905 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102   916,153 20,979 SH   SOLE NONE 20,979 0 0
NEW YORK CMNTY BANCORP INC COM 649445103   2,590,810 286,594 SH   SOLE NONE 286,594 0 0
OCEANFIRST FINL CORP COM 675234108   14,296,387 773,614 SH   SOLE NONE 773,614 0 0
PROLOGIS INC. COM 74340W103   696,092 5,579 SH   SOLE NONE 5,579 0 0
QCR HOLDINGS INC COM 74727A104   16,431,078 374,199 SH   SOLE NONE 374,199 0 0
REXFORD INDL RLTY INC COM 76169C100   498,137 8,351 SH   SOLE NONE 8,351 0 0
SEACOAST BKG CORP FLA COM NEW 811707801   8,379,443 353,563 SH   SOLE NONE 353,563 0 0
SOUTHERN FIRST BANCSHARES COM 842873101   13,600,622 443,017 SH   SOLE NONE 443,017 0 0
SOUTH PLAINS FINANCIAL INC COM 83946P107   518,978 24,240 SH   SOLE NONE 24,240 0 0
USCB FINANCIAL HOLDINGS INC CLASS A COM 90355N101   9,547,312 965,350 SH   SOLE NONE 965,350 0 0
UNIVEST FINANCIAL CORPORATIO COM 915271100   490,896 20,678 SH   SOLE NONE 20,678 0 0
VIRGINIA NATL BANKSHARES COR COM 928031103   7,349,757 204,387 SH   SOLE NONE 204,387 0 0
VALLEY NATL BANCORP COM 919794107   6,136,866 664,163 SH   SOLE NONE 664,163 0 0
WELLTOWER INC COM 95040Q104   1,816,625 25,340 SH   SOLE NONE 25,340 0 0