Q3 2025 Holdings
Filed 2025-11-14 | 111 holdings | $572.0M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Unity Bancorp, Inc.(UNTY) | Common Stock | 913290102 | $21.6M | 441,218 | 3.8% |
| Old Second Bancorp, Inc.(OSBC) | Common Stock | 680277100 | $17.4M | 1,006,378 | 3.0% |
| Avidbank Holdings, Inc.(AVBH) | Common Stock | 05368J103 | $17.3M | 677,719 | 3.0% |
| Private Bancorp of America, Inc.(PBAM) | Common Stock | 74274F100 | $16.6M | 280,502 | 2.9% |
| American Business Bank(AMBZ) | Common Stock | 02475L105 | $15.8M | 289,029 | 2.8% |
| FineMark Holdings, Inc.(FNBT) | Common Stock | 31788B108 | $15.6M | 385,165 | 2.7% |
| California BanCorp.(BCAL) | Common Stock | 84252A106 | $13.9M | 835,480 | 2.4% |
| West Coast Community Bancorp(WCCB) | Common Stock | 952170108 | $12.8M | 301,055 | 2.2% |
| First Bank(FRBA) | Common Stock | 31931U102 | $12.6M | 776,059 | 2.2% |
| MainStreet Bancshares, Inc.(MNSB) | Common Stock | 56064Y100 | $11.9M | 573,373 | 2.1% |
| Texas Capital Bancshares, Inc.(TCBI) | Common Stock | 88224Q107 | $11.3M | 133,205 | 2.0% |
| Metropolitan Bank Holding Corp.(MCB) | Common Stock | 591774104 | $11.0M | 146,736 | 1.9% |
| Merchants Bancorp(MBIN) | Common Stock | 58844R108 | $10.8M | 340,690 | 1.9% |
| Banc of California, Inc.(BANC) | Common Stock | 05990K106 | $10.2M | 615,764 | 1.8% |
| FB Financial Corp.(FBK) | Common Stock | 30257X104 | $9.9M | 178,496 | 1.7% |
| First Business Financial Services, Inc.(FBIZ) | Common Stock | 319390100 | $9.9M | 193,524 | 1.7% |
| First Western Financial, Inc.(MYFW) | Common Stock | 33751L105 | $9.5M | 414,629 | 1.7% |
| Primis Financial Corporation(FRST) | Common Stock | 74167B109 | $9.4M | 892,422 | 1.6% |
| Colony Bankcorp Inc.(CBAN) | Common Stock | 19623P101 | $9.2M | 540,245 | 1.6% |
| Southern First Bancshares, Inc.(SFST) | Common Stock | 842873101 | $9.1M | 205,874 | 1.6% |
| Blue Ridge Bankshares, Inc.(BRBS) | Common Stock | 095825105 | $9.1M | 2,144,949 | 1.6% |
| Alpine Banks of Colorado(ALPIB) | Common Stock | 020810107 | $8.7M | 275,198 | 1.5% |
| Peapack-Gladstone Financial Corporation(PGC) | Common Stock | 704699107 | $8.7M | 315,099 | 1.5% |
| Investar Holding Corporation(ISTR) | Common Stock | 46134L105 | $8.6M | 371,102 | 1.5% |
| First Busey Corporation(BUSE) | Common Stock | 319383204 | $7.7M | 331,729 | 1.3% |
| Mountain Commerce Bancorp(MCBI) | Common Stock | 624004107 | $7.3M | 356,864 | 1.3% |
| Mercantile Bank Corporation(MBWM) | Common Stock | 587376104 | $7.2M | 160,252 | 1.3% |
| SmartFinancial, Inc.(SMBK) | Common Stock | 83190L208 | $7.2M | 200,587 | 1.3% |
| Meridian Bank(MRBK) | Common Stock | 58958P104 | $7.2M | 452,838 | 1.3% |
| Triumph Bancorp, Inc.(TFIN) | Common Stock | 89679E300 | $7.0M | 139,845 | 1.2% |
| Third Coast Bancshares(TCBX) | Common Stock | 88422P109 | $6.8M | 179,383 | 1.2% |
| CNB Financial Corporation(CCNE) | Common Stock | 126128107 | $6.6M | 271,776 | 1.1% |
| Business First Bancshares, Inc.(BFST) | Common Stock | 12326C105 | $6.4M | 269,264 | 1.1% |
| FirstSun Capital Bancorp(FSUN) | Common Stock | 33767U107 | $6.3M | 162,705 | 1.1% |
| Alerus Financial Corporation(ALRS) | Common Stock | 01446U103 | $6.3M | 282,453 | 1.1% |
| Orange County Bancorp, Inc.(OBT) | Common Stock | 68417L107 | $6.2M | 247,853 | 1.1% |
| First Internet Bancorp(INBK) | Common Stock | 320557101 | $6.2M | 276,396 | 1.1% |
| ConnectOne Bancorp, Inc.(CNOB) | Common Stock | 20786W107 | $6.0M | 241,186 | 1.0% |
| Mid Penn Bank(MPB) | Common Stock | 59540G107 | $6.0M | 207,982 | 1.0% |
| Bank7 Corp(BSVN) | Common Stock | 06652N107 | $5.9M | 128,519 | 1.0% |
| First Northern Community Bancorp(FNRN) | Common Stock | 335925103 | $5.4M | 423,238 | 0.9% |
| Veritex Holdings, Inc.(VBTX) | Common Stock | 923451108 | $5.3M | 157,895 | 0.9% |
| United Security Bankshares(UBFO) | Common Stock | 911460103 | $5.0M | 536,316 | 0.9% |
| Princeton Bancorp, Inc.(BPRN) | Common Stock | 74179A107 | $4.9M | 153,926 | 0.9% |
| River City Bank(RCBC) | Common Stock | 76803X106 | $4.8M | 12,559 | 0.8% |
| Bankwell Financial Group, Inc.(BWFG) | Common Stock | 06654A103 | $4.8M | 108,423 | 0.8% |
| Studio Bank(STBK) | Common Stock | 864001102 | $4.8M | 425,956 | 0.8% |
| First Capital Bancshares, Inc.(FCPB) | Common Stock | 31941G101 | $4.2M | 360,816 | 0.7% |
| Coastal Carolina Bancshares, Inc.(CCNB) | Common Stock | 190435107 | $4.1M | 329,002 | 0.7% |
| White River Bancshares Company(WRIV) | Common Stock | 96445A108 | $4.1M | 89,000 | 0.7% |