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
ACNB CORP COM 000868109 7,211 230,535 SH   SOLE   230,535 0 0
AFFINITY BANCSHARES INC COM 00832E103 484 31,436 SH   SOLE   31,436 0 0
AMES NATL CORP COM 031001100 298 12,158 SH   SOLE   12,158 0 0
BANK PRINCETON NEW JERSEY COM 064520109 1,769 60,312 SH   SOLE   60,312 0 0
BAYCOM CORP COM 07272M107 339 18,067 SH   SOLE   18,067 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 14,572 814,066 SH   SOLE   814,066 0 0
CALIFORNIA BANCORP INC COM 13005U101 2,351 110,753 SH   SOLE   110,753 0 0
CARTER BANKSHARES INC COM NEW 146103106 179 11,655 SH   SOLE   11,655 0 0
CB FINL SVCS INC COM 12479G101 2,364 98,218 SH   SOLE   98,218 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 562 40,789 SH   SOLE   40,789 0 0
CODORUS VY BANCORP INC COM 192025104 13,808 641,647 SH   SOLE   641,647 0 0
COLONY BANKCORP INC COM 19623P101 23,307 1,365,402 SH   SOLE   1,365,402 0 0
COMMUNITY FINL CORP MD COM 20368X101 21,795 554,431 SH   SOLE   554,431 0 0
EAGLE BANCORP MONT INC COM 26942G100 527 22,919 SH   SOLE   22,919 0 0
FARMERS & MERCHANTS BANCORP COM 30779N105 5,944 181,062 SH   SOLE   181,062 0 0
FINWARD BANCORP COM 31812F109 697 15,188 SH   SOLE   15,388 0 0
FIRST BUSINESS FINL SVCS INC COM 319390100 6,156 211,053 SH   SOLE   211,053 0 0
FIRST CMNTY CORP S C COM 319835104 3,883 186,030 SH   SOLE   186,030 0 0
FIRST NATL CORP COM 32106V107 11,834 514,645 SH   SOLE   514,645 0 0
FIRST NORTHWEST BANCORP COM 335834107 470 23,244 SH   SOLE   23,244 0 0
FIRST SVGS FINL GROUP INC COM 33621E109 3,284 124,407 SH   SOLE   124,407 0 0
FIRST WESTN FINL INC COM 33751L105 300 9,882 SH   SOLE   9,882 0 0
FRANKLIN FINL SVCS CORP COM 353525108 4,384 132,467 SH   SOLE   132,467 0 0
FVCBANKCORP INC COM 36120Q101 8,356 424,616 SH   SOLE   424,616 0 0
HAWTHORN BANCSHARES INC COM 420476103 262 10,083 SH   SOLE   10,083 0 0
HMN FINL INC COM 40424G108 5,716 231,682 SH   SOLE   231,682 0 0
INVESTAR HLDG CORP COM 46134L105 14,856 806,964 SH   SOLE   806,964 0 0
LIMESTONE BANCORP INC COM 53262L105 1,028 55,110 SH   SOLE   55,110 0 0
MACATAWA BK CORP COM 554225102 1,265 143,431 SH   SOLE   143,431 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 4,180 169,971 SH   SOLE   169,971 0 0
MALVERN BANCORP INC COM 561409103 976 62,269 SH   SOLE   62,269 0 0
MERIDIAN CORPORATION COM 58958P104 3,480 94,643 SH   SOLE   94,643 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 804 32,425 SH   SOLE   32,425 0 0
OAK VY BANCORP OAKDALE CALIF COM 671807105 423 24,284 SH   SOLE   24,284 0 0
OLD POINT FINL CORP COM 680194107 560 23,952 SH   SOLE   23,952 0 0
ORANGE CNTY BANCORP INC COM 68417L107 2,478 61,635 SH   SOLE   61,635 0 0
ORRSTOWN FINL SVCS INC COM 687380105 6,400 253,965 SH   SOLE   253,965 0 0
PEOPLES BANCORP N C INC COM 710577107 6,859 248,594 SH   SOLE   248,594 0 0
PRIMIS FINANCIAL CORP COM 74167B109 492 32,737 SH   SOLE   32,737 0 0
PROFESSIONAL HLDG CORP CL A COM 743139107 7,420 387,277 SH   SOLE   387,277 0 0
SHORE BANCSHARES INC COM 825107105 40,687 1,951,427 SH   SOLE   1,951,427 0 0
SOUTHERN STS BANCSHARES INC COM 843878307 7,086 362,100 SH   SOLE   362,100 0 0
SUMMIT FINL GROUP INC COM 86606G101 6,600 240,433 SH   SOLE   240,433 0 0
TERRITORIAL BANCORP INC COM 88145X108 704 27,862 SH   SOLE   27,862 0 0
TIMBERLAND BANCORP INC COM 887098101 2,915 105,246 SH   SOLE   105,246 0 0
UNITY BANCORP INC COM 913290102 8,715 331,997 SH   SOLE   331,997 0 0
USCB FINANCIAL HOLDINGS INC CLASS A COM 90355N101 4,322 308,617 SH   SOLE   308,617 0 0
VIRGINIA NATL BANKSHARES COR COM 928031103 2,473 65,288 SH   SOLE   65,288 0 0