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
ALERUS FINL CORP COM 01446U103 8,633 440,438 SH   SOLE NONE 440,438 0 0
AMERICAN EXPRESS CO COM 025816109 710 7,083 SH   SOLE NONE 7,083 0 0
BK OF AMERICA CORP COM 060505104 3,076 127,678 SH   SOLE NONE 127,678 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 29,849 902,866 SH   SOLE NONE 902,866 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 6,297 419,821 SH   SOLE NONE 419,821 0 0
BANK NEW YORK MELLON CORP COM 064058100 7,127 207,549 SH   SOLE NONE 207,549 0 0
BANK COMM HLDGS COM 06424J103 2,103 301,696 SH   SOLE NONE 301,696 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 3,424 252,661 SH   SOLE NONE 252,661 0 0
BYLINE BANCORP INC COM 124411109 20,590 1,825,371 SH   SOLE NONE 1,825,371 0 0
CALIFORNIA BANCORP COM 13005U101 9,084 801,782 SH   SOLE NONE 801,782 0 0
CAMBRIDGE BANCORP COM 132152109 8,510 160,077 SH   SOLE NONE 160,077 0 0
CHUBB LIMITED COM H1467J104 16,734 144,107 SH   SOLE NONE 144,107 0 0
CB FINL SVCS INC COM 12479G101 1,740 91,213 SH   SOLE NONE 91,213 0 0
COASTAL FINL CORP WA COM NEW 19046P209 8,743 713,735 SH   SOLE NONE 713,735 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 1,155 6,936 SH   SOLE NONE 6,936 0 0
COLONY CAP INC NEW CL A COM 19626G108 759 278,193 SH   SOLE NONE 278,193 0 0
CONNECTONE BANCORP INC COM 20786W107 12,013 853,783 SH   SOLE NONE 853,783 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,712 62,782 SH   SOLE NONE 62,782 0 0
EVANS BANCORP INC COM NEW 29911Q208 3,153 141,705 SH   SOLE NONE 141,705 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 1,503 10,211 SH   SOLE NONE 10,211 0 0
FIRST MID BANCSHARES INC COM 320866106 2,485 99,611 SH   SOLE NONE 99,611 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 1,500 139,101 SH   SOLE NONE 139,101 0 0
FIRST MERCHANTS CORP COM 320817109 3,673 158,602 SH   SOLE NONE 158,602 0 0
FVCBANKCORP INC COM 36120Q101 8,076 807,557 SH   SOLE NONE 807,557 0 0
GLOBAL PMTS INC COM 37940X102 23,560 132,675 SH   SOLE NONE 132,675 0 0
HBT FINL INC. COM 404111106 6,563 584,908 SH   SOLE NONE 584,908 0 0
HERITAGE COMM CORP COM 426927109 6,532 981,489 SH   SOLE NONE 981,489 0 0
HAWTHORN BANCSHARES INC COM 420476103 4,058 214,232 SH   SOLE NONE 214,232 0 0
INDEPENDENT BK GROUP INC COM 45384B106 24,487 554,245 SH   SOLE NONE 554,245 0 0
I3 VERTICALS INC COM CL A 46571Y107 479 18,966 SH   SOLE NONE 18,966 0 0
INTELLIGENT SYS CORP NEW COM 45816D100 683 17,518 SH   SOLE NONE 17,518 0 0
LEVEL ONE BANCORP INC COM 52730D208 3,425 219,546 SH   SOLE NONE 219,546 0 0
MASTERCARD INCORPORATED CL A 57636Q104 786 2,324 SH   SOLE NONE 2,324 0 0
MVB FINL CORP COM 553810102 5,154 322,740 SH   SOLE NONE 322,740 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 2,639 319,084 SH   SOLE NONE 319,084 0 0
ORIGIN BANCORP INC COM 68621T102 3,968 185,783 SH   SOLE NONE 185,783 0 0
OCEANFIRST FINL CORP COM 675234108 24,781 1,810,172 SH   SOLE NONE 1,810,172 0 0
ORRSTOWN FINL SVCS INC COM 687380105 3,598 281,118 SH   SOLE NONE 281,118 0 0
PROFESSIONAL HLDG CORP CL A COM 743139107 13,854 1,033,092 SH   SOLE NONE 1,033,092 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 7,647 2,055,611 SH   SOLE NONE 2,055,611 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,070 18,831 SH   SOLE NONE 18,831 0 0
QCR HOLDINGS INC COM 74727A104 19,395 707,589 SH   SOLE NONE 707,589 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 7,478 90,111 SH   SOLE NONE 90,111 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 7,617 315,406 SH   SOLE NONE 315,406 0 0
SELECT BANCORP INC NEW COM 81617L108 5,521 767,837 SH   SOLE NONE 767,837 0 0
SOUTH PLAINS FINANCIAL INC COM 83946P107 1,292 104,082 SH   SOLE NONE 104,082 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 901 14,882 SH   SOLE NONE 14,882 0 0
UMPQUA HLDGS CORP COM 904214103 2,254 212,204 SH   SOLE NONE 212,204 0 0
UNIVEST FINANCIAL CORPORATIO COM 915271100 13,538 942,086 SH   SOLE NONE 942,086 0 0
VERITEX HLDGS INC COM 923451108 4,028 236,521 SH   SOLE NONE 236,521 0 0
VALLEY NATL BANCORP COM 919794107 592 86,353 SH   SOLE NONE 86,353 0 0
WSFS FINL CORP COM 929328102 307 11,385 SH   SOLE NONE 11,385 0 0
ZIONS BANCORPORATION N A COM 989701107 14,013 479,554 SH   SOLE NONE 479,554 0 0