Location: Chicago, IL
CIK: 0001029311 · Show all filings
Period: Q3 2025 (← Previous) (Next →)
Filing Date: Nov 14, 2025
Total Value: $572M (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| UNTY | Unity Bancorp, Inc. | 441,218 | $21.56M | 3.8% | $14.79 | +242.2% | Common Stock | 913290102 |
| OSBC | Old Second Bancorp, Inc. | 1,006,378 | $17.4M | 3.0% | $8.10 | +120.5% | Common Stock | 680277100 |
| AVBH | Avidbank Holdings, Inc. | 677,719 | $17.28M | 3.0% | $19.66 | +20.2% | Common Stock | 05368J103 |
| PBAM | Private Bancorp of America, Inc. | 280,502 | $16.56M | 2.9% | $23.81 | +141.8% | Common Stock | 74274F100 |
| AMBZ | American Business Bank | 289,029 | $15.81M | 2.8% | $29.00 | +72.6% | Common Stock | 02475L105 |
| FNBT | FineMark Holdings, Inc. | 385,165 | $15.64M | 2.7% | $30.43 | +35.7% | Common Stock | 31788B108 |
| BCAL | California BanCorp. | 835,480 | $13.94M | 2.4% | $13.52 | +20.8% | Common Stock | 84252A106 |
| WCCB | West Coast Community Bancorp | 301,055 | $12.76M | 2.2% | $26.12 | +51.5% | Common Stock | 952170108 |
| FRBA | First Bank | 776,059 | $12.64M | 2.2% | $9.51 | +66.6% | Common Stock | 31931U102 |
| MNSB | MainStreet Bancshares, Inc. | 573,373 | $11.94M | 2.1% | $14.23 | +46.2% | Common Stock | 56064Y100 |
| TCBI | Texas Capital Bancshares, Inc. | 133,205 | $11.26M | 2.0% | $62.22 | +37.3% | Common Stock | 88224Q107 |
| MCB | Metropolitan Bank Holding Corp. | 146,736 | $10.98M | 1.9% | $45.10 | +65.8% | Common Stock | 591774104 |
| MBIN | Merchants Bancorp | 340,690 | $10.83M | 1.9% | $21.61 | +51.1% | Common Stock | 58844R108 |
| BANC | Banc of California, Inc. | 615,764 | $10.19M | 1.8% | $15.93 | -2.7% | Common Stock | 05990K106 |
| FBK | FB Financial Corp. | 178,496 | $9.949M | 1.7% | $50.36 | 0.0% | Common Stock | 30257X104 |
| FBIZ | First Business Financial Services, Inc. | 193,524 | $9.92M | 1.7% | $18.60 | +171.1% | Common Stock | 319390100 |
| MYFW | First Western Financial, Inc. | 414,629 | $9.547M | 1.7% | $16.79 | +35.9% | Common Stock | 33751L105 |
| FRST | Primis Financial Corporation | 892,422 | $9.379M | 1.6% | $11.38 | -3.9% | Common Stock | 74167B109 |
| CBAN | Colony Bankcorp Inc. | 540,245 | $9.19M | 1.6% | $15.01 | +12.0% | Common Stock | 19623P101 |
| SFST | Southern First Bancshares, Inc. | 205,874 | $9.083M | 1.6% | $28.37 | +50.6% | Common Stock | 842873101 |
| BRBS | Blue Ridge Bankshares, Inc. | 2,144,949 | $9.073M | 1.6% | $4.30 | -14.8% | Common Stock | 095825105 |
| ALPIB | Alpine Banks of Colorado | 275,198 | $8.71M | 1.5% | $27.27 | +5.5% | Common Stock | 020810107 |
| PGC | Peapack-Gladstone Financial Corporation | 315,099 | $8.697M | 1.5% | $19.83 | +40.9% | Common Stock | 704699107 |
| ISTR | Investar Holding Corporation | 371,102 | $8.613M | 1.5% | $18.55 | +21.0% | Common Stock | 46134L105 |
| BUSE | First Busey Corporation | 331,729 | $7.68M | 1.3% | $22.17 | +5.0% | Common Stock | 319383204 |
| MCBI | Mountain Commerce Bancorp | 356,864 | $7.298M | 1.3% | $21.02 | -4.9% | Common Stock | 624004107 |
| MBWM | Mercantile Bank Corporation | 160,252 | $7.211M | 1.3% | $14.28 | +228.2% | Common Stock | 587376104 |
| SMBK | SmartFinancial, Inc. | 200,587 | $7.167M | 1.3% | $19.92 | +79.6% | Common Stock | 83190L208 |
| MRBK | Meridian Bank | 452,838 | $7.15M | 1.3% | $10.30 | +42.8% | Common Stock | 58958P104 |
| TFIN | Triumph Bancorp, Inc. | 139,845 | $6.998M | 1.2% | $25.53 | +130.8% | Common Stock | 89679E300 |
| TCBX | Third Coast Bancshares | 179,383 | $6.811M | 1.2% | $23.38 | +62.4% | Common Stock | 88422P109 |
| CCNE | CNB Financial Corporation | 271,776 | $6.577M | 1.1% | $20.29 | +20.3% | Common Stock | 126128107 |
| BFST | Business First Bancshares, Inc. | 269,264 | $6.357M | 1.1% | $21.37 | +14.2% | Common Stock | 12326C105 |
| FSUN | FirstSun Capital Bancorp | 162,705 | $6.311M | 1.1% | $31.85 | +18.2% | Common Stock | 33767U107 |
| ALRS | Alerus Financial Corporation | 282,453 | $6.254M | 1.1% | $19.10 | +13.9% | Common Stock | 01446U103 |
| OBT | Orange County Bancorp, Inc. | 247,853 | $6.248M | 1.1% | $20.07 | +30.1% | Common Stock | 68417L107 |
| INBK | First Internet Bancorp | 276,396 | $6.2M | 1.1% | $24.87 | -0.9% | Common Stock | 320557101 |
| CNOB | ConnectOne Bancorp, Inc. | 241,186 | $5.984M | 1.0% | $15.87 | +52.6% | Common Stock | 20786W107 |
| MPB | Mid Penn Bank | 207,982 | $5.957M | 1.0% | $24.79 | +15.2% | Common Stock | 59540G107 |
| BSVN | Bank7 Corp | 128,519 | $5.947M | 1.0% | $21.61 | +113.8% | Common Stock | 06652N107 |
| FNRN | First Northern Community Bancorp | 423,238 | $5.384M | 0.9% | $7.92 | +43.9% | Common Stock | 335925103 |
| — | Veritex Holdings, Inc. | 157,895 | $5.294M | 0.9% | $26.80 | — | Common Stock | 923451108 |
| UBFO | United Security Bankshares | 536,316 | $5.004M | 0.9% | $6.16 | +43.9% | Common Stock | 911460103 |
| BPRN | Princeton Bancorp, Inc. | 153,926 | $4.901M | 0.9% | $28.29 | +11.4% | Common Stock | 74179A107 |
| RCBC | River City Bank | 12,559 | $4.835M | 0.8% | $16.82 | +117.8% | Common Stock | 76803X106 |
| BWFG | Bankwell Financial Group, Inc. | 108,423 | $4.798M | 0.8% | $21.43 | +89.4% | Common Stock | 06654A103 |
| STBK | Studio Bank | 425,956 | $4.792M | 0.8% | $9.93 | +10.0% | Common Stock | 864001102 |
| FCPB | First Capital Bancshares, Inc. | 360,816 | $4.204M | 0.7% | $7.31 | +55.2% | Common Stock | 31941G101 |
| CCNB | Coastal Carolina Bancshares, Inc. | 329,002 | $4.145M | 0.7% | $8.26 | +45.0% | Common Stock | 190435107 |
| WRIV | White River Bancshares Company | 89,000 | $4.138M | 0.7% | $32.69 | +38.5% | Common Stock | 96445A108 |
| ORPB | Oregon Pacific Bancorp | 384,086 | $3.975M | 0.7% | $5.63 | +60.5% | Common Stock | 686040205 |
| CMHF | Community Heritage Financial Inc. | 130,258 | $3.973M | 0.7% | $21.49 | +27.8% | Common Stock | 20370L103 |
| CZWI | Citizens Community Bancorp, Inc. | 246,286 | $3.958M | 0.7% | $8.62 | +80.7% | Common Stock | 174903104 |
| SHBI | Shore Bancshares, Inc. | 239,894 | $3.937M | 0.7% | $12.95 | +27.1% | Common Stock | 825107105 |
| COFS | ChoiceOne Financial Services, Inc. | 135,435 | $3.922M | 0.7% | $30.88 | -5.0% | Common Stock | 170386106 |
| PMHG | Prime Meridian Holding Company | 76,418 | $3.913M | 0.7% | $19.09 | +161.7% | Common Stock | 74164R107 |
| SSBI | Summit State Bank | 323,108 | $3.848M | 0.7% | $11.95 | -1.3% | Common Stock | 866264203 |
| LNKB | LinkBancorp | 537,657 | $3.833M | 0.7% | $6.75 | +5.7% | Common Stock | 53578P105 |
| FFWM | First Foundation Inc. | 642,158 | $3.577M | 0.6% | $14.88 | -62.9% | Common Stock | 32026V104 |
| FSRL | First Reliance Bancshares, Inc. | 350,913 | $3.544M | 0.6% | $7.30 | +33.6% | Common Stock | 33615Q100 |
| BSRR | Sierra Bancorp | 121,424 | $3.51M | 0.6% | $16.44 | +80.1% | Common Stock | 82620P102 |
| AMTB | Amerant Bancorp Inc. | 170,000 | $3.276M | 0.6% | $21.24 | -6.1% | Common Stock | 023576101 |
| SABK | South Atlantic Bancshares, Inc. | 179,496 | $3.166M | 0.6% | $486.89 | -96.6% | Common Stock | 83636T104 |
| FSBC | Five Star Bancorp | 95,919 | $3.089M | 0.5% | $22.58 | +37.1% | Common Stock | 33830T103 |
| HNVR | Hanover Bancorp Inc. | 136,929 | $3.074M | 0.5% | $21.91 | +1.6% | Common Stock | 410709109 |
| SBKO | Summit Bank Group, Inc. | 190,501 | $3.048M | 0.5% | $12.00 | +26.9% | Common Stock | 86603R100 |
| PSBQ | PSB Holdings, Inc. | 118,094 | $3.011M | 0.5% | $22.97 | +8.4% | Common Stock | 69360N108 |
| DCOM | Dime Community Bancshares, Inc. | 97,948 | $2.922M | 0.5% | $26.14 | +10.1% | Common Stock | 25432X102 |
| ARBV | American Riviera Bancorp | 133,989 | $2.912M | 0.5% | $18.43 | +13.9% | Common Stock | 02933K103 |
| BLHK | Blueharbor Bank | 96,602 | $2.869M | 0.5% | $12.52 | +133.3% | Common Stock | 095613105 |
| FISI | Financial Institutions, Inc. | 104,000 | $2.829M | 0.5% | $24.95 | +4.9% | Common Stock | 317585404 |
| FVCB | FVCBankcorp Inc. | 214,088 | $2.777M | 0.5% | $12.01 | +8.3% | Common Stock | 36120Q101 |
| EFSI | Eagle Financial Services Inc. | 65,000 | $2.459M | 0.4% | $32.75 | +5.5% | Common Stock | 26951R104 |
| UBAB | United Bancorporation of Alabama, Inc. | 43,474 | $2.411M | 0.4% | $24.39 | +123.0% | Common Stock | 90944R100 |
| GNRV | Grand River Commerce, Inc. | 588,403 | $2.354M | 0.4% | $5.36 | -28.2% | Common Stock | 386441109 |
| SOUB | SouthPoint Bancshares, Inc. | 102,414 | $2.202M | 0.4% | $20.02 | +5.2% | Common Stock | 844647107 |
| USCB | USCB Financial Holdings Inc. | 125,419 | $2.189M | 0.4% | $13.82 | +24.2% | Common Stock | 90355N101 |
| BCTF | Bancorp 34, Inc. | 162,857 | $2.151M | 0.4% | $12.37 | +0.7% | Common Stock | 05970V106 |
| BBT | Beacon Financial Corporation | 86,206 | $2.044M | 0.4% | $27.54 | -9.3% | Common Stock | 084680107 |
| — | Dogwood State Bank | 79,721 | $1.877M | 0.3% | $13.26 | — | Common Stock | 25660B103 |
| COSO | CoastalSouth Bancshares, Inc. | 85,715 | $1.869M | 0.3% | $12.14 | +77.7% | Common Stock | 19058X207 |
| BWB | Bridgewater Bancshares, Inc. | 101,479 | $1.786M | 0.3% | $10.91 | +49.8% | Common Stock | 108621103 |
| BAFN | BayFirst Financial Corp. | 169,772 | $1.776M | 0.3% | $19.82 | -43.7% | Common Stock | 07279B104 |
| TBBK | The Bancorp, Inc. | 23,592 | $1.767M | 0.3% | $26.85 | +159.6% | Common Stock | 05969A105 |
| CBWA | Commencement Bancorp, Inc. | 130,720 | $1.699M | 0.3% | $9.89 | +24.2% | Common Stock | 20051D107 |
| PWBK | Pacific West Bancorp | 135,715 | $1.601M | 0.3% | $11.10 | +0.5% | Common Stock | 69506J102 |
| MVLY | Mission Valley Bancorp | 100,117 | $1.59M | 0.3% | $8.26 | +89.1% | Common Stock | 60520E104 |
| RNST | Renasant Corporation | 41,875 | $1.545M | 0.3% | $33.20 | +13.9% | Common Stock | 75970E107 |
| EDVR | Endeavor Bancorp | 101,072 | $1.526M | 0.3% | $10.24 | +45.7% | Common Stock | 29260B109 |
| FXNC | First National Corporation | 65,880 | $1.494M | 0.3% | $16.37 | +34.3% | Common Stock | 32106V107 |
| PPBN | Pinnacle Bankshares Corporation | 37,464 | $1.42M | 0.2% | $16.53 | +111.1% | Common Stock | 72345E102 |
| FGFH | Foresight Financial Group, Inc. | 38,418 | $1.251M | 0.2% | $22.21 | +41.0% | Common Stock | 345526107 |
| — | F&M Bank Corp | 47,100 | $1.22M | 0.2% | $25.90 | — | Common Stock | 30137P106 |
| FSBH | FSBH Corp (was First Southern Bank) | 135,250 | $1.217M | 0.2% | $7.68 | +18.3% | Common Stock | 30325F101 |
| HTBK | Heritage Commerce Corp | 121,539 | $1.207M | 0.2% | $8.31 | +20.9% | Common Stock | 426927109 |
| FCCO | First Community Corporation | 41,317 | $1.166M | 0.2% | $14.98 | +74.2% | Common Stock | 319835104 |
| INDB | Independent Bank Corp. | 16,449 | $1.138M | 0.2% | $66.90 | 0.0% | Common Stock | 453836108 |
| PBNK | Pinnacle Bank | 53,514 | $1.103M | 0.2% | $8.23 | +148.6% | Common Stock | 72346K107 |
| BY | Byline Bancorp, Inc. | 39,157 | $1.086M | 0.2% | $18.61 | +48.6% | Common Stock | 124411109 |
| TRCY | Tri City Bankshares Corporation | 65,076 | $1.068M | 0.2% | $19.04 | — | Common Stock | 895364107 |
| MVBF | MVB Financial Corp. | 35,044 | $878K | 0.2% | $16.43 | +43.0% | Common Stock | 553810102 |
| MLGF | Malaga Financial Corporation | 41,269 | $847K | 0.1% | $18.44 | +3.3% | Common Stock | 561046103 |
| SOME | Somerset Trust Holding Company | 11,787 | $699K | 0.1% | $42.78 | +28.8% | Common Stock | 835126103 |
| CNBW | CNB Corporation | 8,348 | $668K | 0.1% | $61.21 | -9.7% | Common Stock | 12612R105 |
| BORT | Bank of Botetourt | 16,504 | $644K | 0.1% | $22.94 | +57.6% | Common Stock | 063907208 |
| HBNC | Horizon Bancorp | 35,000 | $560K | 0.1% | $16.02 | 0.0% | Common Stock | 440407104 |
| PTBS | Potomac Bancshares, Inc. | 27,420 | $516K | 0.1% | $11.64 | +49.5% | Common Stock | 737643106 |
| HBT | HBT Financial, Inc. | 18,403 | $464K | 0.1% | $15.65 | +63.9% | Common Stock | 404111106 |
| CBNK | Capital Bancorp, Inc. | 14,400 | $459K | 0.1% | $12.02 | +175.8% | Common Stock | 139737100 |
| LOB | Live Oak Bancshares | 10,350 | $365K | 0.1% | $61.92 | -44.4% | Common Stock | 53803X105 |
| FFMH | First Farmers and Merchants Corporation | 2,629 | $116K | 0.0% | $27.67 | +55.9% | Common Stock | 320148109 |