Q4 2025 Holdings
Filed 2026-02-13 | 54 holdings | $534.4M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Orrstown Finl Svcs Inc(ORRF) | COM | 687380105 | $31.8M | 899,016 | 6.0% |
| Colony Bankcorp Inc(CBAN) | COM | 19623P101 | $30.5M | 1,711,213 | 5.7% |
| Community West Bancshares NE(CWBC) | COM | 203937107 | $29.5M | 1,310,897 | 5.5% |
| Avidbank Hldgs Inc(AVBH) | COM | 05368J103 | $29.0M | 1,091,019 | 5.4% |
| Carter Bankshares Inc(CARE) | COM NEW | 146103106 | $24.3M | 1,236,393 | 4.5% |
| First Natl Corp(FXNC) | COM | 32106V107 | $22.4M | 888,672 | 4.2% |
| Coastalsouth Bancshares Inc(COSO) | COM NEW | 19058X207 | $22.3M | 959,797 | 4.2% |
| Meridian Corporation(MRBK) | COM | 58958P104 | $19.7M | 1,121,775 | 3.7% |
| Investar Hldg Corp(ISTR) | COM | 46134L105 | $18.6M | 695,992 | 3.5% |
| Eagle Finl Svcs Inc(EFSI) | COM | 26951R104 | $18.1M | 453,918 | 3.4% |
| Shore Bancshares Inc(SHBI) | COM | 825107105 | $16.2M | 918,202 | 3.0% |
| First Cmnty Corp S C(FCCO) | COM | 319835104 | $15.9M | 537,072 | 3.0% |
| CF Bankshares Inc(CFBK) | COM | 12520L109 | $15.8M | 634,535 | 3.0% |
| Mainstreet Bancshares Inc(MNSB) | COM | 56064Y100 | $15.6M | 767,792 | 2.9% |
| Parke Bancorp Inc(PKBK) | COM | 700885106 | $15.5M | 620,899 | 2.9% |
| Fvcbankcorp Inc(FVCB) | COM | 36120Q101 | $15.1M | 1,088,952 | 2.8% |
| Primis Financial Corp(FRST) | COM | 74167B109 | $13.0M | 932,437 | 2.4% |
| Hanover Bancorp Inc(HNVR) | COM | 410709109 | $11.9M | 516,702 | 2.2% |
| Ames Natl Corp(ATLO) | COM | 031001100 | $10.1M | 438,696 | 1.9% |
| OAK VY Bancorp Oakdale Calif(OVLY) | COM | 671807105 | $9.2M | 305,401 | 1.7% |
| Mid Penn Bancorp Inc(MPB) | COM | 59540G107 | $9.0M | 291,396 | 1.7% |
| Franklin Finl Svcs Corp(FRAF) | COM | 353525108 | $8.8M | 175,570 | 1.6% |
| Linkbancorp Inc(LNKB) | COM | 53578P105 | $8.8M | 1,066,836 | 1.6% |
| First Northwest Bancorp(FNWB) | COM | 335834107 | $8.8M | 939,429 | 1.6% |
| Ohio VY Banc Corp(OVBC) | COM | 677719106 | $7.9M | 198,804 | 1.5% |
| Financial Instns Inc(FISI) | COM | 317585404 | $7.9M | 254,501 | 1.5% |
| National Bankshares Inc VA(NKSH) | COM | 634865109 | $7.6M | 226,138 | 1.4% |
| CNB Finl Corp PA(CCNE) | COM | 126128107 | $7.3M | 279,557 | 1.4% |
| Eagle Bancorp Mont Inc(EBMT) | COM | 26942G100 | $6.8M | 342,748 | 1.3% |
| United SEC Bancshares Calif(UBFO) | COM | 911460103 | $6.4M | 637,917 | 1.2% |
| Southern First Bancshares(SFST) | COM | 842873101 | $6.3M | 123,240 | 1.2% |
| Bank of the James Finl GP in(BOTJ) | COM | 470299108 | $6.0M | 321,908 | 1.1% |
| Provident Finl Hldgs Inc(PROV) | COM | 743868101 | $5.6M | 352,151 | 1.0% |
| Peoples Bancorp N C Inc(PEBK) | COM | 710577107 | $5.6M | 154,533 | 1.0% |
| Orange Cnty Bancorp Inc(OBT) | COM | 68417L107 | $5.5M | 192,846 | 1.0% |
| California Bancorp(BCAL) | COM | 84252A106 | $5.1M | 275,432 | 1.0% |
| Plumas Bancorp(PLBC) | COM | 729273102 | $4.6M | 102,585 | 0.9% |
| Burke Herbert Finl Svcs Corp(BHRB) | COM | 12135Y108 | $4.5M | 72,663 | 0.8% |
| Western New ENG Bancorp Inc(WNEB) | COM | 958892101 | $4.0M | 319,953 | 0.8% |
| Timberland Bancorp Inc(TSBK) | COM | 887098101 | $3.9M | 109,687 | 0.7% |
| Business First Bancshares in(BFST) | COM | 12326C105 | $3.5M | 132,169 | 0.6% |
| Waterstone Finl Inc MD(WSBF) | COM | 94188P101 | $3.3M | 199,702 | 0.6% |
| Citizens Cmnty Bancorp Inc M(CZWI) | COM | 174903104 | $3.0M | 168,029 | 0.6% |
| John Marshall Bancorp Inc(JMSB) | COM | 47805L101 | $2.2M | 111,874 | 0.4% |
| First UTD Corp(FUNC) | COM | 33741H107 | $1.4M | 37,500 | 0.3% |
| Princeton Bancorp Inc(BPRN) | COM | 74179A107 | $1.3M | 37,789 | 0.2% |
| Northfield Bancorp Inc del(NFBK) | COM | 66611T108 | $1.2M | 100,785 | 0.2% |
| Heritage Finl Corp Wash(HFWA) | COM | 42722X106 | $593.6K | 25,100 | 0.1% |
| Norwood Financial Corp(NWFL) | COM | 669549107 | $545.8K | 19,457 | 0.1% |
| Riverview Bancorp Inc(RVSB) | COM | 769397100 | $484.7K | 96,556 | 0.1% |