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 |
1895 BANCORP OF WIS INC | COM | 28253R105 | 554 | 50,454 | SH | | SOLE | | 50,454 | 0 | 0 |
1ST CONSTITUTION BANCORP | COM | 31986N102 | 4,606 | 179,646 | SH | | SOLE | | 179,646 | 0 | 0 |
AFFINITY BANCSHARES INC | COM | 00832E103 | 446 | 28,967 | SH | | SOLE | | 28,967 | 0 | 0 |
AMERISERV FINL INC | COM | 03074A102 | 2,181 | 564,944 | SH | | SOLE | | 564,944 | 0 | 0 |
ATLANTIC CAP BANCSHARES INC | COM | 048269203 | 4,140 | 143,902 | SH | | SOLE | | 143,902 | 0 | 0 |
BANC OF CALIFORNIA INC | COM | 05990K106 | 7,699 | 392,402 | SH | | SOLE | | 392,402 | 0 | 0 |
BANK OF THE JAMES FINL GP IN | COM | 470299108 | 465 | 30,060 | SH | | SOLE | | 30,060 | 0 | 0 |
BANK PRINCETON NEW JERSEY | COM | 064520109 | 2,242 | 76,437 | SH | | SOLE | | 76,437 | 0 | 0 |
BANKFINANCIAL CORP | COM | 06643P104 | 2,105 | 197,256 | SH | | SOLE | | 197,256 | 0 | 0 |
BANKWELL FINL GROUP INC | COM | 06654A103 | 1,047 | 31,887 | SH | | SOLE | | 31,887 | 0 | 0 |
BANNER CORP | COM NEW | 06652V208 | 3,242 | 53,434 | SH | | SOLE | | 53,434 | 0 | 0 |
BAYCOM CORP | COM | 07272M107 | 2,133 | 113,696 | SH | | SOLE | | 113,696 | 0 | 0 |
BCB BANCORP INC | COM | 055298103 | 1,519 | 98,462 | SH | | SOLE | | 98,462 | 0 | 0 |
BERKSHIRE HILLS BANCORP INC | COM | 084680107 | 6,266 | 220,400 | SH | | SOLE | | 220,400 | 0 | 0 |
BLUE RIDGE BANKSHARES INC VA | COM | 095825105 | 243 | 13,593 | SH | | SOLE | | 13,593 | 0 | 0 |
BOGOTA FINL CORP | COM | 097235105 | 214 | 21,005 | SH | | SOLE | | 21,005 | 0 | 0 |
BROOKLINE BANCORP INC DEL | COM | 11373M107 | 942 | 58,197 | SH | | SOLE | | 58,197 | 0 | 0 |
C & F FINL CORP | COM | 12466Q104 | 1,916 | 37,420 | SH | | SOLE | | 37,420 | 0 | 0 |
CAPSTAR FINL HLDGS INC | COM | 14070T102 | 10,220 | 485,983 | SH | | SOLE | | 485,983 | 0 | 0 |
CARTER BK & TR MARTINSVILLE | COM | 146102108 | 1,873 | 121,734 | SH | | SOLE | | 121,734 | 0 | 0 |
CB FINL SVCS INC | COM | 12479G101 | 471 | 19,553 | SH | | SOLE | | 19,553 | 0 | 0 |
CBM BANCORP INC | COM | 1248XT104 | 354 | 25,172 | SH | | SOLE | | 25,172 | 0 | 0 |
CENTRAL VALLEY CMNTY BANCORP | COM | 155685100 | 4,451 | 214,312 | SH | | SOLE | | 214,312 | 0 | 0 |
CF BANKSHARES INC | COM | 12520L109 | 1,534 | 74,721 | SH | | SOLE | | 74,721 | 0 | 0 |
CHEMUNG FINL CORP | COM | 164024101 | 345 | 7,426 | SH | | SOLE | | 7,426 | 0 | 0 |
CITIZENS CMNTY BANCORP INC M | COM | 174903104 | 438 | 31,838 | SH | | SOLE | | 31,838 | 0 | 0 |
CITIZENS HLDG CO MISS | COM | 174715102 | 300 | 15,991 | SH | | SOLE | | 15,991 | 0 | 0 |
CIVISTA BANCSHARES INC | COM NO PAR | 178867107 | 1,779 | 72,903 | SH | | SOLE | | 72,903 | 0 | 0 |
CNB FINL CORP PA | COM | 126128107 | 1,238 | 46,709 | SH | | SOLE | | 46,709 | 0 | 0 |
CODORUS VY BANCORP INC | COM | 192025104 | 912 | 42,383 | SH | | SOLE | | 42,383 | 0 | 0 |
COLONY BANKCORP INC | COM | 19623P101 | 3,039 | 178,053 | SH | | SOLE | | 178,053 | 0 | 0 |
COLUMBIA BKG SYS INC | COM | 197236102 | 968 | 29,598 | SH | | SOLE | | 29,598 | 0 | 0 |
COLUMBIA FINL INC | COM | 197641103 | 2,346 | 112,452 | SH | | SOLE | | 112,452 | 0 | 0 |
COMMUNITY FINL CORP MD | COM | 20368X101 | 5,595 | 142,334 | SH | | SOLE | | 142,334 | 0 | 0 |
COMMUNITY WEST BANCSHARES | COM | 204157101 | 936 | 69,768 | SH | | SOLE | | 69,768 | 0 | 0 |
CROSSFIRST BANKSHARES INC | COM | 22766M109 | 174 | 11,177 | SH | | SOLE | | 11,177 | 0 | 0 |
EAGLE BANCORP MONT INC | COM | 26942G100 | 1,257 | 54,696 | SH | | SOLE | | 54,696 | 0 | 0 |
ENTERPRISE BANCORP INC MASS | COM | 293668109 | 2,780 | 61,884 | SH | | SOLE | | 61,884 | 0 | 0 |
ESSA BANCORP INC | COM | 29667D104 | 235 | 13,588 | SH | | SOLE | | 13,588 | 0 | 0 |
FFBW INC | COM | 30258M107 | 779 | 66,053 | SH | | SOLE | | 66,053 | 0 | 0 |
FINANCIAL INSTNS INC | COM | 317585404 | 5,767 | 181,347 | SH | | SOLE | | 181,347 | 0 | 0 |
FIRST BANK WILLIAMSTOWN NJ | COM | 31931U102 | 3,810 | 262,556 | SH | | SOLE | | 262,556 | 0 | 0 |
FIRST BUS FINL SVCS INC WIS | COM | 319390100 | 3,603 | 123,524 | SH | | SOLE | | 123,524 | 0 | 0 |
FIRST CMNTY CORP S C | COM | 319835104 | 1,546 | 74,068 | SH | | SOLE | | 74,068 | 0 | 0 |
FIRST FINANCIAL NORTHWEST IN | COM | 32022K102 | 2,713 | 167,768 | SH | | SOLE | | 167,768 | 0 | 0 |
FIRST FINL CORP IND | COM | 320218100 | 5,386 | 118,928 | SH | | SOLE | | 118,928 | 0 | 0 |
FIRST GTY BANCSHARES INC | COM | 32043P106 | 777 | 38,107 | SH | | SOLE | | 38,107 | 0 | 0 |
FIRST LONG IS CORP | COM | 320734106 | 1,718 | 79,578 | SH | | SOLE | | 79,578 | 0 | 0 |
FIRST MIDWEST BANCORP DEL | COM | 320867104 | 567 | 27,694 | SH | | SOLE | | 27,694 | 0 | 0 |
FIRST NATL CORP | COM | 32106V107 | 351 | 15,247 | SH | | SOLE | | 15,247 | 0 | 0 |
FIRST NORTHWEST BANCORP | COM | 335834107 | 2,743 | 135,802 | SH | | SOLE | | 135,802 | 0 | 0 |
FIRST SVGS FINL GROUP INC | COM | 33621E109 | 853 | 32,309 | SH | | SOLE | | 32,309 | 0 | 0 |
FIRST US BANCSHARES INC | COM | 33744V103 | 996 | 94,259 | SH | | SOLE | | 94,259 | 0 | 0 |
FIRST UTD CORP | COM | 33741H107 | 392 | 20,906 | SH | | SOLE | | 20,906 | 0 | 0 |
FIRST WESTN FINL INC | COM | 33751L105 | 1,344 | 44,262 | SH | | SOLE | | 44,262 | 0 | 0 |
FLUSHING FINL CORP | COM | 343873105 | 3,553 | 146,210 | SH | | SOLE | | 146,210 | 0 | 0 |
FNCB BANCORP INC | COM | 302578109 | 897 | 97,116 | SH | | SOLE | | 97,116 | 0 | 0 |
FRANKLIN FINL SVCS CORP | COM | 353525108 | 304 | 9,198 | SH | | SOLE | | 9,198 | 0 | 0 |
FS BANCORP INC | COM | 30263Y104 | 6,774 | 201,440 | SH | | SOLE | | 201,440 | 0 | 0 |
FULTON FINL CORP PA | COM | 360271100 | 272 | 16,000 | SH | | SOLE | | 16,000 | 0 | 0 |
GLEN BURNIE BANCORP | COM | 377407101 | 382 | 27,284 | SH | | SOLE | | 27,284 | 0 | 0 |
GREAT SOUTHN BANCORP INC | COM | 390905107 | 2,546 | 42,965 | SH | | SOLE | | 42,965 | 0 | 0 |
GREENE CNTY BANCORP INC | COM | 394357107 | 555 | 15,094 | SH | | SOLE | | 15,094 | 0 | 0 |
GUARANTY FED BANCSHARES INC | COM | 40108P101 | 835 | 25,673 | SH | | SOLE | | 25,673 | 0 | 0 |
HARBORONE BANCORP INC NEW | COM NEW | 41165Y100 | 157 | 10,582 | SH | | SOLE | | 10,582 | 0 | 0 |
HEARTLAND FINL USA INC | COM | 42234Q102 | 754 | 14,899 | SH | | SOLE | | 14,899 | 0 | 0 |
HERITAGE COMMERCE CORP | COM | 426927109 | 3,706 | 310,355 | SH | | SOLE | | 310,355 | 0 | 0 |
HILLTOP HOLDINGS INC | COM | 432748101 | 4,953 | 140,946 | SH | | SOLE | | 140,946 | 0 | 0 |
HMN FINL INC | COM | 40424G108 | 1,013 | 41,072 | SH | | SOLE | | 41,072 | 0 | 0 |
HOME BANCORP INC | COM | 43689E107 | 1,929 | 46,471 | SH | | SOLE | | 46,471 | 0 | 0 |
HOMETRUST BANCSHARES INC | COM | 437872104 | 897 | 28,955 | SH | | SOLE | | 28,955 | 0 | 0 |
HORIZON BANCORP INC | COM | 440407104 | 372 | 17,839 | SH | | SOLE | | 17,839 | 0 | 0 |
HOWARD BANCORP INC | COM | 442496105 | 7,016 | 321,960 | SH | | SOLE | | 321,960 | 0 | 0 |
IF BANCORP INC | COM | 44951J105 | 289 | 11,121 | SH | | SOLE | | 11,121 | 0 | 0 |
INDEPENDENT BK CORP MASS | COM | 453836108 | 364 | 15,266 | SH | | SOLE | | 15,266 | 0 | 0 |
INTERNATIONAL BANCSHARES COR | COM | 459044103 | 6,633 | 156,468 | SH | | SOLE | | 156,468 | 0 | 0 |
INVESTAR HLDG CORP | COM | 46134L105 | 458 | 24,887 | SH | | SOLE | | 24,887 | 0 | 0 |
KENTUCKY FIRST FED BANCORP | COM | 491292108 | 132 | 17,504 | SH | | SOLE | | 17,504 | 0 | 0 |
LAKE SHORE BANCORP INC | COM | 510700107 | 190 | 12,769 | SH | | SOLE | | 12,769 | 0 | 0 |
LEVEL ONE BANCORP INC | COM | 52730D208 | 771 | 19,554 | SH | | SOLE | | 19,554 | 0 | 0 |
LIMESTONE BANCORP INC | COM | 53262L105 | 1,015 | 54,410 | SH | | SOLE | | 54,410 | 0 | 0 |
MACATAWA BK CORP | COM | 554225102 | 2,230 | 252,850 | SH | | SOLE | | 252,850 | 0 | 0 |
MAGYAR BANCORP INC | COM | 55977T208 | 154 | 12,520 | SH | | SOLE | | 12,520 | 0 | 0 |
MAINSTREET BANCSHARES INC | COM | 56064Y100 | 727 | 29,583 | SH | | SOLE | | 29,583 | 0 | 0 |
MALVERN BANCORP INC | COM | 561409103 | 939 | 59,926 | SH | | SOLE | | 59,926 | 0 | 0 |
MERCANTILE BANK CORP | COM | 587376104 | 1,553 | 44,330 | SH | | SOLE | | 44,330 | 0 | 0 |
MERCHANTS BANCORP IND | COM | 58844R108 | 327 | 6,899 | SH | | SOLE | | 6,899 | 0 | 0 |
MERIDIAN BANCORP INC MD | COM | 58958U103 | 561 | 15,256 | SH | | SOLE | | 15,256 | 0 | 0 |
MID PENN BANCORP INC | COM | 59540G107 | 2,113 | 66,582 | SH | | SOLE | | 66,582 | 0 | 0 |
MIDLAND STS BANCORP INC ILL | COM | 597742105 | 389 | 15,698 | SH | | SOLE | | 15,698 | 0 | 0 |
MIDWESTONE FINL GROUP INC NE | COM | 598511103 | 2,434 | 75,193 | SH | | SOLE | | 75,193 | 0 | 0 |
OAK VALLEY BANCORP OAKDALE C | COM | 671807105 | 728 | 41,838 | SH | | SOLE | | 41,838 | 0 | 0 |
OLD SECOND BANCORP INC ILL | COM | 680277100 | 567 | 45,021 | SH | | SOLE | | 45,021 | 0 | 0 |
OP BANCORP | COM | 67109R109 | 5,400 | 423,208 | SH | | SOLE | | 423,208 | 0 | 0 |
OPTIMUMBANK HLDGS INC | COM | 68401P403 | 57 | 14,395 | SH | | SOLE | | 14,395 | 0 | 0 |
ORRSTOWN FINL SVCS INC | COM | 687380105 | 357 | 14,162 | SH | | SOLE | | 14,162 | 0 | 0 |
PACWEST BANCORP DEL | COM | 695263103 | 857 | 18,979 | SH | | SOLE | | 18,979 | 0 | 0 |
PARKE BANCORP INC | COM | 700885106 | 4,831 | 227,008 | SH | | SOLE | | 227,008 | 0 | 0 |
PCB BANCORP | COM | 69320M109 | 4,003 | 182,289 | SH | | SOLE | | 182,289 | 0 | 0 |
PCSB FINL CORP | COM | 69324R104 | 208 | 10,905 | SH | | SOLE | | 10,905 | 0 | 0 |
PDL CMNTY BANCORP | COM | 69290X101 | 193 | 13,301 | SH | | SOLE | | 13,301 | 0 | 0 |
PEAPACK-GLADSTONE FINL CORP | COM | 704699107 | 2,931 | 82,795 | SH | | SOLE | | 82,795 | 0 | 0 |
PEOPLES BANCORP N C INC | COM | 710577107 | 323 | 11,704 | SH | | SOLE | | 11,704 | 0 | 0 |
PIONEER BANCORP INC MD | COM | 723561106 | 246 | 21,720 | SH | | SOLE | | 21,720 | 0 | 0 |
PLUMAS BANCORP | COM | 729273102 | 790 | 23,387 | SH | | SOLE | | 23,387 | 0 | 0 |
PRIMIS FINANCIAL CORP | COM | 74167B109 | 5,037 | 334,917 | SH | | SOLE | | 334,917 | 0 | 0 |
RANDOLPH BANCORP INC | COM | 752378109 | 2,267 | 94,469 | SH | | SOLE | | 94,469 | 0 | 0 |
RBB BANCORP | COM | 74930B105 | 5,380 | 205,354 | SH | | SOLE | | 205,354 | 0 | 0 |
REPUBLIC FIRST BANCORP INC | COM | 760416107 | 6,389 | 1,717,422 | SH | | SOLE | | 1,717,422 | 0 | 0 |
RHINEBECK BANCORP INC | COM | 762093102 | 183 | 17,201 | SH | | SOLE | | 17,201 | 0 | 0 |
RICHMOND MUT BANCORPORATION | COM | 76525P100 | 219 | 13,673 | SH | | SOLE | | 13,673 | 0 | 0 |
SB FINL GROUP INC | COM | 78408D105 | 904 | 45,952 | SH | | SOLE | | 45,952 | 0 | 0 |
SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | 12,000 | 400,000 | SH | Put | SOLE | | 400,000 | 0 | 0 |
SHORE BANCSHARES INC | COM | 825107105 | 2,266 | 108,668 | SH | | SOLE | | 108,668 | 0 | 0 |
SIERRA BANCORP | COM | 82620P102 | 3,138 | 115,594 | SH | | SOLE | | 115,594 | 0 | 0 |
SMARTFINANCIAL INC | COM NEW | 83190L208 | 3,770 | 137,791 | SH | | SOLE | | 137,791 | 0 | 0 |
SOUND FINL BANCORP INC | COM | 83607A100 | 1,558 | 35,398 | SH | | SOLE | | 35,398 | 0 | 0 |
SOUTH PLAINS FINANCIAL INC | COM | 83946P107 | 332 | 11,950 | SH | | SOLE | | 11,950 | 0 | 0 |
SOUTHERN STS BANCSHARES INC | COM | 843878307 | 1,370 | 70,000 | SH | | SOLE | | 70,000 | 0 | 0 |
SPDR SER TR | S&P REGL BKG | 78464A698 | 30,160 | 680,000 | SH | Put | SOLE | | 680,000 | 0 | 0 |
SPIRIT OF TEX BANCSHARES INC | COM | 84861D103 | 1,610 | 55,943 | SH | | SOLE | | 55,943 | 0 | 0 |
SUMMIT FINL GROUP INC | COM | 86606G101 | 417 | 15,196 | SH | | SOLE | | 15,196 | 0 | 0 |
SUMMIT ST BK SANTA ROSA CALI | COM | 866264203 | 1,129 | 72,898 | SH | | SOLE | | 72,898 | 0 | 0 |
TEXAS CAPITAL BANCSHARES INC | COM | 88224Q107 | 10,150 | 168,463 | SH | | SOLE | | 168,463 | 0 | 0 |
TIMBERLAND BANCORP INC | COM | 887098101 | 1,536 | 55,463 | SH | | SOLE | | 55,463 | 0 | 0 |
TRUSTCO BK CORP N Y | COM NEW | 898349204 | 877 | 26,342 | SH | | SOLE | | 26,342 | 0 | 0 |
TRUSTMARK CORP | COM | 898402102 | 234 | 7,205 | SH | | SOLE | | 7,205 | 0 | 0 |
UMPQUA HLDGS CORP | COM | 904214103 | 1,778 | 92,414 | SH | | SOLE | | 92,414 | 0 | 0 |
UNITED BANCSHARES INC OHIO | COM | 909458101 | 528 | 17,296 | SH | | SOLE | | 17,296 | 0 | 0 |
UNITED BANKSHARES INC WEST V | COM | 909907107 | 367 | 10,108 | SH | | SOLE | | 10,108 | 0 | 0 |
UNITY BANCORP INC | COM | 913290102 | 619 | 23,596 | SH | | SOLE | | 23,596 | 0 | 0 |
WESBANCO INC | COM | 950810101 | 538 | 15,366 | SH | | SOLE | | 15,366 | 0 | 0 |
WESTERN NEW ENG BANCORP INC | COM | 958892101 | 1,973 | 225,216 | SH | | SOLE | | 225,216 | 0 | 0 |
WINTRUST FINL CORP | COM | 97650W108 | 1,073 | 11,814 | SH | | SOLE | | 11,814 | 0 | 0 |
WVS FINL CORP | COM | 929358109 | 196 | 12,878 | SH | | SOLE | | 12,878 | 0 | 0 |