| AABACUS GLOBAL MGMT INCABX |
| 6.82% | 5.95% | $19.3M | 1.8M | $15.4M | 1.9M | -149,321-7.66% | Reduce |
| VVERSABANK NEWVBNK |
| 6.41% | 5.19% | $18.1M | 780,981 | $13.4M | 945,241 | -164,260-17.38% | Reduce |
 EQUITY BANCSHARES INCEQBK |
| 5.62% | 6.58% | $15.9M | 324,569 | $17.0M | 382,050 | -57,481-15.05% | Reduce |
 PRIMIS FINANCIAL CORP COMFRST |
| 5.38% | 6.3% | $15.2M | 929,735 | $16.3M | 1.2M | -294,808-24.07% | Reduce |
 FIRSTSUN CAP BANCORPFSUN |
| 4.77% | 1.93% | $13.5M | 347,747 | $5.0M | 136,325 | +211,422+155.09% | Add |
 USCB FINANCIAL HOLDINGS INC CLASS A COMUSCB |
| 4.32% | 4.13% | $12.2M | 597,788 | $10.6M | 574,100 | +23,688+4.13% | Add |
 RENASANT CORPRNST |
| 3.91% | 4.31% | $11.1M | 260,000 | $11.1M | 307,500 | -47,500-15.45% | Reduce |
 FIRST HORIZON CORPORATIONFHN |
| 3.72% | 3.78% | $10.5M | 410,000 | $9.8M | 428,585 | -18,585-4.34% | Reduce |
 ORIGIN BANCORP INCOBK |
| 3.62% | 3.21% | $10.2M | 200,000 | $8.3M | 200,000 | 00.00% | Unchanged |
| FFIRST CAROLINA FINL SVCSFCBM |
| 3.28% | — | $9.3M | 700,000 | $0 | 0 | +700,000 | New Buy |
 BUSINESS FIRST BANCSHARES INC COMBFST |
| 3.19% | 2.62% | $9.0M | 293,893 | $6.8M | 250,000 | +43,893+17.56% | Add |
| AAMERANT BANCORP INCAMTB |
| 2.95% | 2.34% | $8.4M | 327,504 | $6.0M | 273,308 | +54,196+19.83% | Add |
 BANC OF CALIFORNIA INCBANC |
| 2.75% | 1.87% | $7.8M | 381,273 | $4.8M | 275,000 | +106,273+38.64% | Add |
 CIVISTA BANCSHARES INC COM NO PARCIVB |
| 2.68% | 2.75% | $7.6M | 268,279 | $7.1M | 311,725 | -43,446-13.94% | Reduce |
 COASTALSOUTH BANCSHARES INC COM NEWCOSO |
| 2.54% | 3.14% | $7.2M | 267,232 | $8.1M | 329,743 | -62,511-18.96% | Reduce |
| BBEACON FINANCIAL CORP.BBT |
| 2.46% | 2.32% | $7.0M | 228,394 | $6.0M | 199,731 | +28,663+14.35% | Add |
 FIRST WESTN FINL INC COMMYFW |
| 2.45% | 2.41% | $6.9M | 215,815 | $6.2M | 253,336 | -37,521-14.81% | Reduce |
| CCOMMERCIAL BANCGROUP INC COMCBK |
| 2.44% | 3.18% | $6.9M | 213,668 | $8.2M | 315,633 | -101,965-32.30% | Reduce |
 NICOLET BANKSHARES INCNIC |
| 2.34% | 4.32% | $6.6M | 40,000 | $11.1M | 74,988 | -34,988-46.66% | Reduce |
| FFB FINL CORPFBK |
| 2.25% | 2.32% | $6.4M | 115,000 | $6.0M | 115,000 | 00.00% | Unchanged |
 AVIDBANK HLDGS INC COMAVBH |
| 2.23% | 2.43% | $6.3M | 190,858 | $6.3M | 219,678 | -28,820-13.12% | Reduce |
 SIMMONS FIRST NATL CORPSFNC |
| 2.16% | 2.07% | $6.1M | 270,000 | $5.3M | 275,000 | -5,000-1.82% | Reduce |
 CALIFORNIA BANCORPBCAL |
| 2.01% | 2.78% | $5.7M | 273,140 | $7.2M | 404,369 | -131,229-32.45% | Reduce |
 OCEANFIRST FINL CORPOCFC |
| 1.75% | 0.14% | $4.9M | 253,424 | $360,800 | 20,000 | +233,424+1,167.12% | Add |
 BYLINE BANCORP INCBY |
| 1.66% | 1.53% | $4.7M | 125,000 | $3.9M | 125,000 | 00.00% | Unchanged |
| CCOASTAL FINL CORP WACCB |
| 1.53% | 1.65% | $4.3M | 56,000 | $4.3M | 56,000 | 00.00% | Unchanged |
 ATLANTIC UN BANKSHARES CORPAUB |
| 1.5% | 1.39% | $4.2M | 100,000 | $3.6M | 100,000 | 00.00% | Unchanged |
 FINANCIAL INSTITUTIONS INC COMFISI |
| 1.38% | 1.23% | $3.9M | 100,000 | $3.2M | 100,000 | 00.00% | Unchanged |
| NNORTHPOINTE BANCSHARES INC. COM SHSNPB |
| 1.36% | 2.06% | $3.8M | 200,000 | $5.3M | 308,624 | -108,624-35.20% | Reduce |
 SHORE BANCSHARES INCSHBI |
| 1.17% | 1.12% | $3.3M | 144,715 | $2.9M | 155,290 | -10,575-6.81% | Reduce |
 FIRST MERCHANTS CORPFRME |
| 1.16% | 1.46% | $3.3M | 75,000 | $3.8M | 97,500 | -22,500-23.08% | Reduce |
 EASTERN BANKSHARES INCEBC |
| 1% | 0.23% | $2.8M | 127,729 | $586,800 | 30,000 | +97,729+325.76% | Add |
| EEAGLE BANCORPORATION INCEGBN |
| 1% | — | $2.8M | 100,000 | $0 | 0 | +100,000 | New Buy |
 PROVIDENT FINL SVCS INCPFS |
| 0.96% | 0.94% | $2.7M | 115,000 | $2.4M | 115,000 | 00.00% | Unchanged |
 BRIDGEWATER BANCSHARES INC COMBWB |
| 0.95% | 0.82% | $2.7M | 127,218 | $2.1M | 120,000 | +7,218+6.02% | Add |
 OLD SECOND BANCORP INC DELOSBC |
| 0.82% | 0.78% | $2.3M | 100,000 | $2.0M | 100,000 | 00.00% | Unchanged |
| IINSCORP INCIBTN |
| 0.76% | — | $2.2M | 76,684 | $0 | 0 | +76,684 | New Buy |
 INVESTAR HOLDING CORP COMISTR |
| 0.61% | 0.4% | $1.7M | 57,740 | $1.0M | 38,037 | +19,703+51.80% | Add |
 AMERIS BANCORPABCB |
| 0.49% | 0.77% | $1.4M | 15,500 | $2.0M | 25,500 | -10,000-39.22% | Reduce |
 COLONY BANKCORP INC COMCBAN |
| 0.31% | — | $884,242 | 44,014 | $0 | 0 | +44,014 | New Buy |
 SOUTHERN FIRST BANCSHARES COMSFST |
| 0.29% | 0.12% | $815,563 | 13,348 | $304,219 | 5,582 | +7,766+139.13% | Add |
 COMMUNITY WEST BANCSHARES NEW COMCWBC |
| 0.23% | 0.22% | $639,161 | 23,796 | $577,747 | 24,796 | -1,000-4.03% | Reduce |
 INDEPENDENT BK CORP MASSINDB |
| 0.22% | 0.29% | $627,900 | 7,500 | $752,100 | 10,000 | -2,500-25.00% | Reduce |
 MAINSTREET BANCSHARES INC COMMNSB |
| 0.2% | 0.41% | $577,005 | 23,370 | $1.1M | 47,312 | -23,942-50.60% | Reduce |
 MERIDIAN CORP COMMRBK |
| 0.19% | 0.2% | $525,106 | 26,216 | $506,649 | 26,722 | -506-1.89% | Reduce |
 National Bank Holdings Corp CLASS A COMMONNBHC |
| 0.16% | 0.23% | $444,300 | 10,000 | $589,436 | 15,052 | -5,052-33.56% | Reduce |
