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
BANKFINANCIAL CORP COM 06643P104 187 18,154 SH   SOLE   18,154 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 16,370 746,131 SH   SOLE   746,131 0 0
CAPITAL BANCORP INC MD COM 139737100 5,883 304,956 SH   SOLE   304,956 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 999 57,904 SH   SOLE   57,904 0 0
CARTER BANKSHARES INC COM NEW 146103106 445 31,887 SH   SOLE   31,887 0 0
CB FINL SVCS INC COM 12479G101 239 10,822 SH   SOLE   10,822 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 11,381 917,043 SH   SOLE   917,043 0 0
CODORUS VY BANCORP INC COM 192025104 15,970 867,469 SH   SOLE   867,469 0 0
COLONY BANKCORP INC COM 19623P101 6,305 404,160 SH   SOLE   404,160 0 0
COMMUNITY BANKERS TR CORP COM 203612106 11,156 1,264,894 SH   SOLE   1,264,894 0 0
COMMUNITY FINL CORP MD COM 20368X101 20,008 584,162 SH   SOLE   584,162 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 106 10,000 SH   SOLE   10,000 0 0
FAUQUIER BANKSHARES INC COM 312059108 2,106 98,965 SH   SOLE   98,965 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 1,415 116,299 SH   SOLE   116,299 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 344 13,916 SH   SOLE   13,916 0 0
FIRST INTERNET BANCORP COM 320557101 5,823 165,279 SH   SOLE   165,279 0 0
FIRST NATL CORP COM 32106V107 8,283 475,759 SH   SOLE   475,759 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 2,735 40,735 SH   SOLE   40,735 0 0
FRANKLIN FINL SVCS CORP COM 353525108 1,059 33,958 SH   SOLE   33,958 0 0
FS BANCORP INC COM 30263Y104 1,685 25,067 SH   SOLE   25,067 0 0
HMN FINL INC COM 40424G108 9,301 462,491 SH   SOLE   462,491 0 0
HOWARD BANCORP INC COM 442496105 8,647 525,957 SH   SOLE   525,957 0 0
INVESTAR HLDG CORP COM 46134L105 1,882 91,591 SH   SOLE   91,591 0 0
MACKINAC FINL CORP COM 554571109 605 43,149 SH   SOLE   43,149 0 0
MALVERN BANCORP INC COM 561409103 2,381 127,865 SH   SOLE   127,865 0 0
MID PENN BANCORP INC COM 59540G107 332 12,373 SH   SOLE   12,373 0 0
OLD POINT FINL CORP COM 680194107 681 28,967 SH   SOLE   28,967 0 0
ORRSTOWN FINL SVCS INC COM 687380105 1,818 81,516 SH   SOLE   81,516 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 11,778 1,323,394 SH   SOLE   1,323,394 0 0
PARTNERS BANCORP COM 70213Q108 888 121,458 SH   SOLE   121,458 0 0
PLUMAS BANCORP COM 729273102 6,414 219,290 SH   SOLE   219,290 0 0
PRIMIS FINANCIAL CORP COM 74167B109 1,356 89,876 SH   SOLE   89,876 0 0
PROFESSIONAL HLDG CORP CL A COM 743139107 743 40,436 SH   SOLE   40,436 0 0
RIVERVIEW FINL CORP NEW COM 76940Q105 325 31,134 SH   SOLE   31,134 0 0
SELECT BANCORP INC NEW COM 81617L108 2,251 203,325 SH   SOLE   203,325 0 0
SEVERN BANCORP INC ANNAPOLIS COM 81811M100 13,945 1,152,495 SH   SOLE   1,152,495 0 0
SHORE BANCSHARES INC COM 825107105 19,872 1,167,583 SH   SOLE   1,167,583 0 0
SUMMIT FINL GROUP INC COM 86606G101 3,405 128,259 SH   SOLE   128,259 0 0
TIMBERLAND BANCORP INC COM 887098101 398 14,302 SH   SOLE   14,302 0 0
UNITY BANCORP INC COM 913290102 1,875 85,243 SH   SOLE   85,243 0 0