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   3,460,042 485,961 SH   SOLE NONE 485,961 0 0
ALERUS FINL CORP COM 01446U103   4,225,323 180,956 SH   SOLE NONE 180,956 0 0
BANC OF CALIFORNIA INC COM 05990K106   31,002,918 1,946,197 SH   SOLE NONE 1,946,197 0 0
BILL COM HLDGS INC COM 090043100   4,946,021 45,393 SH   SOLE NONE 45,393 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107   1,795,548 57,074 SH   SOLE NONE 57,074 0 0
BYLINE BANCORP INC COM 124411109   7,503,265 326,655 SH   SOLE NONE 326,655 0 0
CALIFORNIA BANCORP INC COM 13005U101   19,213,812 807,982 SH   SOLE NONE 807,982 0 0
CAMBRIDGE BANCORP COM 132152109   15,314,271 184,376 SH   SOLE NONE 184,376 0 0
CB FINL SVCS INC COM 12479G101   2,379,180 111,021 SH   SOLE NONE 111,021 0 0
COASTAL FINL CORP WA COM NEW 19046P209   34,714,548 730,525 SH   SOLE NONE 730,525 0 0
CROWN CASTLE INC COM 22822V101   1,279,628 9,434 SH   SOLE NONE 9,434 0 0
CONNECTONE BANCORP INC COM 20786W107   5,483,686 226,505 SH   SOLE NONE 226,505 0 0
CAMDEN PPTY TR SH BEN INT 133131102   2,481,946 22,184 SH   SOLE NONE 22,184 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   5,804,512 530,577 SH   SOLE NONE 530,577 0 0
EVANS BANCORP INC COM NEW 29911Q208   5,924,109 158,441 SH   SOLE NONE 158,441 0 0
FIRST BANCSHARES INC MS COM 318916103   2,266,692 70,812 SH   SOLE NONE 70,812 0 0
FLYWIRE CORPORATION COM VTG 302492103   1,660,338 67,852 SH   SOLE NONE 67,852 0 0
FINWARD BANCORP COM 31812F109   3,603,457 99,543 SH   SOLE NONE 99,543 0 0
FVCBANKCORP INC COM 36120Q101   15,744,726 825,628 SH   SOLE NONE 825,628 0 0
HERITAGE COMM CORP COM 426927109   11,189,867 860,759 SH   SOLE NONE 860,759 0 0
HAWTHORN BANCSHARES INC COM 420476103   2,020,691 92,820 SH   SOLE NONE 92,820 0 0
INDUS REALTY TRUST INC COM 45580R103   1,227,389 19,332 SH   SOLE NONE 19,332 0 0
INDEPENDENCE RLTY TR INC COM 45378A106   2,419,191 143,487 SH   SOLE NONE 143,487 0 0
MID PENN BANCORP INC COM 59540G107   3,256,780 108,668 SH   SOLE NONE 108,668 0 0
MVB FINL CORP COM 553810102   9,910,563 450,071 SH   SOLE NONE 450,071 0 0
NORTHEAST BK LEWISTON ME COM 66405S100   8,905,118 211,523 SH   SOLE NONE 211,523 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102   4,349,650 99,946 SH   SOLE NONE 99,946 0 0
NEW YORK CMNTY BANCORP INC COM 649445103   2,464,708 286,594 SH   SOLE NONE 286,594 0 0
ORIGIN BANCORP INC COM 68621T102   1,217,119 33,164 SH   SOLE NONE 33,164 0 0
OCEANFIRST FINL CORP COM 675234108   19,574,097 921,134 SH   SOLE NONE 921,134 0 0
BLUE OWL CAPITAL INC COM CL A 09581B103   372,728 35,163 SH   SOLE NONE 35,163 0 0
PROFESSIONAL HLDG CORP CL A COM 743139107   24,337,661 877,349 SH   SOLE NONE 877,349 0 0
QCR HOLDINGS INC COM 74727A104   21,272,775 428,541 SH   SOLE NONE 428,541 0 0
RADIUS GLOBAL INFRASTRCTRE I COM CL A 750481103   6,923,707 585,762 SH   SOLE NONE 585,762 0 0
REXFORD INDL RLTY INC COM 76169C100   2,983,125 54,596 SH   SOLE NONE 54,596 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104   16,620,831 144,253 SH   SOLE NONE 144,253 0 0
SOUTHERN FIRST BANCSHARES COM 842873101   19,666,553 429,870 SH   SOLE NONE 429,870 0 0
SOUTH PLAINS FINANCIAL INC COM 83946P107   667,327 24,240 SH   SOLE NONE 24,240 0 0
USCB FINANCIAL HOLDINGS INC CLASS A COM 90355N101   6,712,294 550,188 SH   SOLE NONE 550,188 0 0
UNIVEST FINANCIAL CORPORATIO COM 915271100   10,018,294 383,402 SH   SOLE NONE 383,402 0 0
VIRGINIA NATL BANKSHARES COR COM 928031103   7,129,087 194,465 SH   SOLE NONE 194,465 0 0
VALLEY NATL BANCORP COM 919794107   16,463,402 1,455,650 SH   SOLE NONE 1,455,650 0 0
WELLTOWER INC COM 95040Q104   3,904,945 59,572 SH   SOLE NONE 59,572 0 0