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
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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
1st Capital Bank Common 31944C107 4,219 441,732 SH   SOLE   441,732 0 0
1st Colonial Bancorp Common 319716106 2,391 467,083 SH   SOLE   467,083 0 0
1st Constitution Bancorp Common 31986N102 7,609 613,656 SH   SOLE   613,656 0 0
Alerus Financial Corporation Common 01446U103 4,248 215,000 SH   SOLE   215,000 0 0
Allegiance Bancshares, Inc. Common 01748H107 6,123 241,162 SH   SOLE   241,162 0 0
AMB Financial Corp. Common 001984103 984 78,750 SH   SOLE   78,750 0 0
American Business Bank Common 02475L105 10,331 412,421 SH   SOLE   412,421 0 0
American River Bankshares Common 029326105 1,498 140,623 SH   SOLE   140,623 0 0
American Riviera Bank Common 02932A106 4,027 328,740 SH   SOLE   328,740 0 0
Avidbank Holdings, Inc. Common 05368J103 8,368 563,104 SH   SOLE   563,104 0 0
Bank of Botetourt Common 063907208 1,019 42,005 SH   SOLE   42,005 0 0
Bank of Commerce Holdings Common 06424J103 4,224 557,273 SH   SOLE   557,273 0 0
Bank of Fincastle Common 062113105 1,836 892,972 SH   SOLE   892,972 0 0
Bank of Princeton Common 064520109 5,693 283,521 SH   SOLE   283,521 0 0
Bank of Santa Clarita Common 06424K100 447 48,319 SH   SOLE   48,319 0 0
Bank of the James Financial Group, Inc. Common 470299108 2,041 215,934 SH   SOLE   215,934 0 0
Bankwell Financial Group, Inc. Common 06654A103 4,376 275,193 SH   SOLE   275,193 0 0
Bay Banks of Virginia, Inc. Common 072035108 3,812 635,322 SH   SOLE   635,322 0 0
BCB Bancorp, Inc. Common 055298103 2,557 275,560 SH   SOLE   275,560 0 0
Beach Community Bancshares, Inc. Common 07332T100 3,375 900,000 SH   SOLE   900,000 0 0
Blue Ridge Bankshares, Inc. Common 095825105 3,422 225,000 SH   SOLE   225,000 0 0
Blueharbor bank Common 095613105 92 10,800 SH   SOLE   10,800 0 0
Boston Private Financial Holdings, Inc. Common 101119105 11,637 1,691,454 SH   SOLE   1,691,454 0 0
Bridge Bancorp Inc. Common 108035106 3,457 151,370 SH   SOLE   151,370 0 0
Bridgewater Bancshares, Inc. Common 108621103 2,436 237,652 SH   SOLE   237,652 0 0
Business First Bancshares, Inc. Common 12326C105 7,972 519,349 SH   SOLE   519,349 0 0
Byline Bancorp, Inc. Common 124411109 13,498 1,030,360 SH   SOLE   1,030,360 0 0
California BanCorp Common 13005U101 6,386 428,562 SH   SOLE   428,562 0 0
Cambridge Bancorp Common 132152109 6,955 117,396 SH   SOLE   117,396 0 0
Capital Bancorp, Inc. Common 139737100 741 69,222 SH   SOLE   69,222 0 0
Cashmere Valley Bank Common 14756K102 3,879 90,203 SH   SOLE   90,203 0 0
CCB Financial Common 19046P209 1,452 100,000 SH   SOLE   100,000 0 0
Centric Financial Corporation Common 15641J101 5,367 783,506 SH   SOLE   783,506 0 0
Century Financial Corporation Common 15652L102 2,202 117,446 SH   SOLE   117,446 0 0
Chino Commercial Bancorp Common 16957L102 1,391 147,926 SH   SOLE   147,926 0 0
Citizens Bancorp Common 172950107 1,749 122,749 SH   SOLE   122,749 0 0
Citizens Community Bancorp, Inc. Common 174903104 6,225 907,507 SH   SOLE   907,507 0 0
CNB Corporation Common 12612R105 784 12,551 SH   SOLE   12,551 0 0
CNB Financial Corporation Common 126128107 3,150 175,695 SH   SOLE   175,695 0 0
Coastal Carolina Bancshares, Inc. Common 190435107 1,731 288,461 SH   SOLE   288,461 0 0
CoastalSouth Bancshares, Inc. Common 19058X207 1,963 204,249 SH   SOLE   204,249 0 0
Codorus Valley Bancorp, Inc. Common 192025104 9,220 666,669 SH   SOLE   666,669 0 0
Commencement Bank Common 20051D107 4,109 365,233 SH   SOLE   365,233 0 0
Communities First Financial Corporation Common 20344D104 729 31,694 SH   SOLE   31,694 0 0
Community Bancorp of Santa Maria Common 20344R103 1,738 190,148 SH   SOLE   190,148 0 0
Community Bank of the Bay Common 203485107 4,204 826,007 SH   SOLE   826,007 0 0
Community Bankers Trust Corporation Common 203612106 541 98,297 SH   SOLE   98,297 0 0
Community Financial Corporation Common 20368X101 4,259 174,532 SH   SOLE   174,532 0 0
Community First Bancorporation Common 203916101 255 41,744 SH   SOLE   41,744 0 0
Community Heritage Financial Inc. Common 20370L103 1,502 79,474 SH   SOLE   79,474 0 0
ConnectOne Bancorp, Inc. Common 20786W107 7,397 458,881 SH   SOLE   458,881 0 0
County Bancorp, Inc. Common 221907108 4,055 193,737 SH   SOLE   193,737 0 0
CrossFirst Bankshares, Inc. Common 22766M109 14,379 1,470,289 SH   SOLE   1,470,289 0 0
Crystal Valley Financial Common 22941P100 585 13,000 SH   SOLE   13,000 0 0
Dime Community Bancshares, Inc. Common 253922108 4,091 297,976 SH   SOLE   297,976 0 0
Eagle Bancorp, Inc. Common 268948106 5,036 153,777 SH   SOLE   153,777 0 0
Eagle Financial Services Inc. Common 26951R104 1,269 49,365 SH   SOLE   49,365 0 0
Embassy Bancorp, Inc. Common 290791102 1,438 113,637 SH   SOLE   113,637 0 0
Empire Bancorp Inc. Common 291617108 506 49,188 SH   SOLE   49,188 0 0
Enterprise Bancorp, Inc. Common 293668109 7,502 314,955 SH   SOLE   314,955 0 0
Equity Bancshares, Inc. Common 29460X109 2,776 159,156 SH   SOLE   159,156 0 0
ES Bancshares, Inc. Common 296049109 1,424 361,445 SH   SOLE   361,445 0 0
Farmers & Merchants Bancorp Common 307795104 863 1,222 SH   SOLE   1,222 0 0
Fauquier Bancshares, Inc. Common 312059108 707 50,177 SH   SOLE   50,177 0 0
FB Financial Corp. Common 30257X104 1,883 76,000 SH   SOLE   76,000 0 0
FedNat Holding Company Common 31431B109 482 43,568 SH   SOLE   43,568 0 0
Fentura Financial, Inc. Common 314645102 6,288 362,445 SH   SOLE   362,445 0 0
FineMark Holdings, Inc. Common 31788B108 4,536 210,000 SH   SOLE   210,000 0 0
First Bancshares, Inc. Common 318916103 10,860 482,681 SH   SOLE   482,681 0 0
First Bank Common 31931U102 8,315 1,275,264 SH   SOLE   1,275,264 0 0
First Business Financial Services Common 319390100 11,897 723,232 SH   SOLE   723,232 0 0
First Choice Bancorp Common 31948P104 11,162 681,419 SH   SOLE   681,419 0 0
First Citrus Bancorporation, Inc. Common 31959T102 526 27,695 SH   SOLE   27,695 0 0
First Farmers and Merchants Corporation Common 320148109 385 12,500 SH   SOLE   12,500 0 0
First Foundation Inc. Common 32026V104 18,640 1,140,760 SH   SOLE   1,140,760 0 0
First Home Bancorp, Inc. Common 32050L105 1,265 89,062 SH   SOLE   89,062 0 0
First Internet Bancorp Common 320557101 4,204 252,950 SH   SOLE   252,950 0 0
First National Corporation Common 32106V107 274 19,730 SH   SOLE   19,730 0 0
First Northern Community Bancorp Common 335925103 7,060 872,653 SH   SOLE   872,653 0 0
First Reliance Bancshares, Inc. Common 33615Q100 2,051 404,444 SH   SOLE   404,444 0 0
First Virginia Community Bank Common 36120Q101 398 37,000 SH   SOLE   37,000 0 0
First Western Financial, Inc. Common 33751L105 9,094 638,207 SH   SOLE   638,207 0 0
FNS Bancshares, Inc. Common 30253F107 1,677 23,950 SH   SOLE   23,950 0 0
Foresight Financial Group, Inc. Common 345526107 3,697 139,524 SH   SOLE   139,524 0 0
Franklin Financial Network, Inc. Common 35352P104 1,552 60,289 SH   SOLE   60,289 0 0
Franklin Financial Services Corp. Common 353525108 2,354 90,901 SH   SOLE   90,901 0 0
Grand River Commerce, Inc. Common 386441109 2,848 479,538 SH   SOLE   479,538 0 0
GrandSouth Bancorporation Common 386627301 1,334 89,800 SH   SOLE   89,800 0 0
HBT Financial, Inc. Common 404111106 10,552 791,614 SH   SOLE   791,614 0 0
Heritage Commerce Corp Common 426927109 2,050 273,029 SH   SOLE   273,029 0 0
Howard Bancorp, Inc. Common 442496105 298 28,037 SH   SOLE   28,037 0 0
Iberiabank Corp Common 450828108 1,624 35,669 SH   SOLE   35,669 0 0
Investar Holding Corporation Common 46134L105 10,695 737,594 SH   SOLE   737,594 0 0
John Marshall Bank Common 47805L101 570 51,775 SH   SOLE   51,775 0 0
Kentucky Bancshares, Inc. Common 491203105 2,001 120,424 SH   SOLE   120,424 0 0
Lakeland Bancorp, Inc. Common 511637100 14,499 1,268,516 SH   SOLE   1,268,516 0 0
Ledyard Financial Group, Inc. Common 523338101 565 30,951 SH   SOLE   30,951 0 0
Level One Bancorp, Inc. Common 52730D208 6,963 415,959 SH   SOLE   415,959 0 0
Lewis & Clark Bank Common 527584106 448 22,388 SH   SOLE   22,388 0 0
Limestone Bancorp, Inc. Common 53262L105 4,587 348,846 SH   SOLE   348,846 0 0
MainStreet Bancshares, Inc. Common 56064Y100 8,121 615,241 SH   SOLE   615,241 0 0
Malvern Bancorp, Inc. Common 561409103 7,876 618,699 SH   SOLE   618,699 0 0
McHenry Bancorp, Inc. Common 580683100 1,350 15,000,000 SH   SOLE   15,000,000 0 0
Mercantile Bank Corporation Common 587376104 13,232 585,484 SH   SOLE   585,484 0 0
Merchants Bancorp Common 58844R108 5,434 293,915 SH   SOLE   293,915 0 0
Merchants Financial Group, Inc. Common 588538108 6,198 116,949 SH   SOLE   116,949 0 0
Meridian Bank Common 58958P104 8,615 543,539 SH   SOLE   543,539 0 0
Meridian Interstate Bancorp Common 58958U103 2,698 232,570 SH   SOLE   232,570 0 0
Metro Phoenix Bank Common 59165E106 2,047 212,767 SH   SOLE   212,767 0 0
Metropolitan Bank Holding Corp. Common 591774104 5,651 176,161 SH   SOLE   176,161 0 0
Mid Penn Bank Common 59540G107 1,386 75,222 SH   SOLE   75,222 0 0
Middlefield Banc Corp. Common 596304204 1,074 51,748 SH   SOLE   51,748 0 0
MidWestOne Financial Group, Inc. Common 598511103 855 42,764 SH   SOLE   42,764 0 0
Mission Valley Bancorp Common 60520E104 2,612 285,415 SH   SOLE   285,415 0 0
Mountain Commerce Bancorp Common 624004107 4,890 307,553 SH   SOLE   307,553 0 0
MVB Financial Corp. Common 553810102 1,745 131,196 SH   SOLE   131,196 0 0
Northway Financial, Inc. Common 667270201 4,742 201,623 SH   SOLE   201,623 0 0
NorthWest Indiana Bancorp Common 667516108 3,004 91,584 SH   SOLE   91,584 0 0
Oak Ridge Financial Services, Inc. Common 671768109 2,647 225,841 SH   SOLE   225,841 0 0
Oak Valley Bancorp Common 671807105 3,248 256,172 SH   SOLE   256,172 0 0
Old Second Bancorp, Inc. Common 680277100 13,892 1,785,600 SH   SOLE   1,785,600 0 0
Orange County Bancorp Common 68417L107 3,940 165,883 SH   SOLE   165,883 0 0
Oregon Pacific Bancorp Common 686040205 2,778 677,586 SH   SOLE   677,586 0 0
Origin Bancorp Inc. Common 68621T102 7,606 345,708 SH   SOLE   345,708 0 0
Pacific Financial Corporation Common 694275108 4,671 636,314 SH   SOLE   636,314 0 0
Pacific Mercantile Bancorp Common 694552100 3,936 1,075,521 SH   SOLE   1,075,521 0 0
Pacific West Bank Common 69506W202 1,950 185,715 SH   SOLE   185,715 0 0
Peapack-Gladstone Financial Corporation Common 704699107 16,565 884,391 SH   SOLE   884,391 0 0
Peoples Bancorp Common 70979X107 1,916 14,737 SH   SOLE   14,737 0 0
People's Bank of Commerce Common 710311101 320 26,648 SH   SOLE   26,648 0 0
Pilot Bancshares, Inc. Common 721530103 2,006 771,429 SH   SOLE   771,429 0 0
Pinnacle Bancshares, Inc. Common 722903101 1,110 39,367 SH   SOLE   39,367 0 0
Pinnacle Bank Common 72346K107 2,650 350,066 SH   SOLE   350,066 0 0
Pinnacle Bankshares Corporation Common 72345E102 1,797 87,030 SH   SOLE   87,030 0 0
Pioneer Bancshares, Inc Common 72357G102 1,528 97,000 SH   SOLE   97,000 0 0
Potomac Bancshares, Inc. Common 737643106 608 57,405 SH   SOLE   57,405 0 0
Prime Meridian Holding Company Common 74164R107 1,417 103,417 SH   SOLE   103,417 0 0
Private Bancorp of America, Inc. Common 74274F100 6,815 540,909 SH   SOLE   540,909 0 0
Professional Holding Corp. Common 743139107 1,388 100,000 SH   SOLE   100,000 0 0
PSB Holdings, Inc. Common 69360N108 3,703 199,613 SH   SOLE   199,613 0 0
QNB Corp. Common 74726N107 3,796 134,364 SH   SOLE   134,364 0 0
Red River Bancshares, Inc. Common 75686R202 1,463 33,334 SH   SOLE   33,334 0 0
Reliant Bancorp, Inc. Common 75956B101 8,350 512,561 SH   SOLE   512,561 0 0
Republic First Bancorp, Inc. Common 760416107 5,235 2,145,576 SH   SOLE   2,145,576 0 0
River City Bank Common 76803X106 3,767 25,962 SH   SOLE   25,962 0 0
Riverview Bancorp, Inc. Common 769397100 867 153,516 SH   SOLE   153,516 0 0
Riverview Financial Corporation Common 76940Q105 2,650 492,634 SH   SOLE   492,634 0 0
Sandy Spring Bancorp Inc. Common 800363103 16,032 646,981 SH   SOLE   646,981 0 0
Santa Cruz County Bank Common 801827106 2,914 77,718 SH   SOLE   77,718 0 0
SB One Bancorp Common 78413T103 15,565 790,125 SH   SOLE   790,125 0 0
Seacoast Banking Corporation of Florida Common 811707801 3,040 149,042 SH   SOLE   149,042 0 0
Sevier County Bancshares, Inc. Common 81817P206 3,343 217,675 SH   SOLE   217,675 0 0
Shore Bancshares, Inc. Common 825107105 6,309 568,916 SH   SOLE   568,916 0 0
Sierra Bancorp Common 82620P102 3,262 172,783 SH   SOLE   172,783 0 0
Silvercrest Asset Management Group Inc. Common 828359109 6,582 517,858 SH   SOLE   517,858 0 0
SmartFinancial, Inc. Common 83190L208 8,922 551,430 SH   SOLE   551,430 0 0
Solvay Bank Corporation Common 83441Q105 509 15,418 SH   SOLE   15,418 0 0
South Atlantic Bancshares, Inc. Common 83636T104 3,344 372,388 SH   SOLE   372,388 0 0
South Plains Financial, Inc. Common 83946P107 2,989 209,919 SH   SOLE   209,919 0 0
South State Corporation Common 840441109 2,275 47,732 SH   SOLE   47,732 0 0
SouthCrest Financial Group, Inc. Common 84129X107 1,592 267,161 SH   SOLE   267,161 0 0
Southern BancShares (N.C.), Inc. Common 842243107 7,336 2,096 SH   SOLE   2,096 0 0
Southern California Bancorp Common 84252A106 7,989 827,901 SH   SOLE   827,901 0 0
Southern First Bancshares, Inc. Common 842873101 16,473 594,462 SH   SOLE   594,462 0 0
Southern National Bancorp of Virginia,Inc. Common 843395104 11,214 1,157,295 SH   SOLE   1,157,295 0 0
Southern States Bancshares, Inc. Common 843878109 3,134 232,143 SH   SOLE   232,143 0 0
SouthPoint Bancshares, Inc. Common 844647107 1,740 104,826 SH   SOLE   104,826 0 0
Spirit of Texas Bancshares, Inc. Common 84861D103 8,133 660,705 SH   SOLE   660,705 0 0
Sterling Bancorp, Inc. Common 85917W102 2,029 566,637 SH   SOLE   566,637 0 0
Summit Bank Common 86601L105 182 15,200 SH   SOLE   15,200 0 0
Summit State Bank Common 866264203 1,947 217,051 SH   SOLE   217,051 0 0
Suncrest Bank Common 86723G109 8,122 982,152 SH   SOLE   982,152 0 0
Surrey Bancorp Common 86888W105 679 63,785 SH   SOLE   63,785 0 0
Synovus Financial Corp. Common 87161C501 5,981 291,320 SH   SOLE   291,320 0 0
TGR Financial, Inc. Common 87243P108 3,971 451,195 SH   SOLE   451,195 0 0
Three Shores Bancorporation, Inc. Common 885753103 1,267 190,000 SH   SOLE   190,000 0 0
Town and Country Financial Corporation Common 892039108 197 10,914 SH   SOLE   10,914 0 0
Tri City Bankshares Corporation Common 895364107 1,409 89,223 SH   SOLE   89,223 0 0
TriState Capital Holdings, Inc. Common 89678F100 13,711 872,785 SH   SOLE   872,785 0 0
Triumph Bancorp, Inc. Common 89679E300 9,144 376,749 SH   SOLE   376,749 0 0
Two Rivers Financial Group, Inc. Common 90206L106 2,076 83,041 SH   SOLE   83,041 0 0
United Bancorporation of Alabama, Inc. Common 90944R100 812 40,000 SH   SOLE   40,000 0 0
United Bankshares Common 909907107 3,264 118,018 SH   SOLE   118,018 0 0
United Insurance Holdings Corp. Common 910710102 229 29,269 SH   SOLE   29,269 0 0
Unity Bancorp, Inc. Common 913290102 11,606 811,596 SH   SOLE   811,596 0 0
Univest Financial Corporation Common 915271100 1,387 85,952 SH   SOLE   85,952 0 0
Veritex Holdings, Inc. Common 923451108 8,220 464,412 SH   SOLE   464,412 0 0
Village Bank and Trust Financial Corp. Common 92705T200 1,128 36,538 SH   SOLE   36,538 0 0
Virginia National Bankshares Corp. Common 928031103 446 17,662 SH   SOLE   17,662 0 0
W.T.B. Financial Corporation Common 929334209 11,242 40,294 SH   SOLE   40,294 0 0
WesBanco, Inc. Common 950810101 649 31,934 SH   SOLE   31,934 0 0
West Suburban Bancorp, Inc. Common 956152409 2,420 6,020 SH   SOLE   6,020 0 0
Westbury Bancorp, Inc. Common 95727P106 3,376 175,370 SH   SOLE   175,370 0 0
White River Bancshares Company Common 96445A108 1,819 38,280 SH   SOLE   38,280 0 0
York Traditions Bank Common 987159100 3,747 242,499 SH   SOLE   242,499 0 0