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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | ORIGIN BANCORP INC | $8.3M | 200000 | 12.21% |
| 2 | BUSINESS FIRST BANCSHARES IN | $6.8M | 250000 | 9.95% |
| 3 | FB FINL CORP | $6.0M | 115000 | 8.80% |
| 4 | BYLINE BANCORP INC | $3.9M | 125000 | 5.81% |
| 5 | ATLANTIC UN BANKSHARES CORP | $3.6M | 100000 | 5.26% |
| 6 | FINANCIAL INSTITUTIONS INC | $3.2M | 100000 | 4.67% |
| 7 | PROVIDENT FINL SVCS INC | $2.4M | 115000 | 3.58% |
| 8 | CENTRAL BANCOMPANY | $2.4M | 100000 | 3.53% |
| 9 | BRIDGEWATER BANCSHARES INC | $2.1M | 120000 | 3.13% |
| 10 | OLD SECOND BANCORP INC DEL | $2.0M | 100000 | 2.97% |
| 11 | HOMETRUST BANCSHARES INC | $2.0M | 46847 | 2.94% |
| 12 | AMERIS BANCORP | $2.0M | 25500 | 2.93% |
| 13 | PRIMIS FINANCIAL CORP | $2.0M | 149721 | 2.93% |
| 14 | IDACORP INC | $1.5M | 56627 | 2.15% |
| 15 | FIRST AMERN FINL CORP | $1.2M | 1188914 | 1.75% |
| 16 | ABACUS GLOBAL MGMT INC | $1.2M | 149321 | 1.73% |
| 17 | VERSABANK NEW | $1.1M | 78039 | 1.63% |
| 18 | FIRST WESTN FINL INC | $1.0M | 41934 | 1.52% |
| 19 | INVESTAR HOLDING CORP | $818K | 30000 | 1.20% |
| 20 | INDEPENDENT BK CORP MASS | $752K | 10000 | 1.11% |
| 21 | NICOLET BANKSHARES INC | $741K | 4988 | 1.09% |
| 22 | BEACON FINANCIAL CORP. | $701K | 23373 | 1.03% |
| 23 | EQUITY BANCSHARES INC | $692K | 15575 | 1.02% |
| 24 | NBT BANCORP INC | $639K | 15000 | 0.94% |
| 25 | NORTHPOINTE BANCSHARES INC. | $607K | 35183 | 0.89% |
| 26 | NATIONAL BK HLDGS CORP | $589K | 15052 | 0.87% |
| 27 | EASTERN BANKSHARES INC | $587K | 30000 | 0.86% |
| 28 | CALIFORNIA BANCORP | $563K | 31780 | 0.83% |
| 29 | MAINSTREET BANCSHARES INC | $555K | 25000 | 0.82% |
| 30 | FIRSTSUN CAP BANCORP | $547K | 15000 | 0.81% |
| 31 | SIMMONS FIRST NATL CORP | $486K | 25000 | 0.72% |
| 32 | USCB FINANCIAL HOLDINGS INC | $478K | 25806 | 0.70% |
| 33 | FIRST HORIZON CORPORATION | $476K | 20892 | 0.70% |
| 34 | COASTAL FINL CORP WA | $457K | 6000 | 0.67% |
| 35 | CIVISTA BANCSHARES INC | $445K | 19535 | 0.66% |
| 36 | BANC OF CALIFORNIA INC | $440K | 25000 | 0.65% |
| 37 | COMMERCIAL BANCGROUP INC | $378K | 14535 | 0.56% |
| 38 | COASTALSOUTH BANCSHARES INC | $363K | 14761 | 0.53% |
| 39 | OCEANFIRST FINL CORP | $361K | 20000 | 0.53% |
| 40 | COMMUNITY WEST BANCSHARES NE | $350K | 15000 | 0.52% |
| 41 | AVIDBANK HLDGS INC | $316K | 11087 | 0.47% |
| 42 | SOUTHERN FIRST BANCSHARES | $304K | 5582 | 0.45% |
| 43 | PEAPACK-GLADSTONE FINL CORP | $298K | 8460 | 0.44% |
| 44 | CARTER BANKSHARES INC | $287K | 12300 | 0.42% |
| 45 | MERIDIAN CORP | $284K | 15000 | 0.42% |
| 46 | AMERANT BANCORP INC | $282K | 12811 | 0.42% |
| 47 | RELIANCE INC | $278K | 20000 | 0.41% |
| 48 | RENASANT CORP | $271K | 7500 | 0.40% |
| 49 | SHORE BANCSHARES INC | $241K | 12900 | 0.35% |
| 50 | MECHANICS BANCORP | $238K | 16121 | 0.35% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.