BUSINESS FIRST BANCSHARES IN

Institution	Shares	Value ($000)
PharVision Advisers, LLC	11,334	$296
Kingstone Capital Partners Texas, LLC	10,071	$263
1492 Capital Management LLC	8,878	$232
DGS Capital Management, LLC	9,148	$239
FIRST FOUNDATION ADVISORS	17,966	$470
Trexquant Investment LP	13,923	$364
State of Tennessee, Department of Treasury	14,469	$408
SEI INVESTMENTS CO	22,573	$590
IEQ CAPITAL, LLC	10,993	$287
TEACHER RETIREMENT SYSTEM OF TEXAS	9,692	$253
Quantinno Capital Management LP	11,045	$289
CITADEL ADVISORS LLC	11,922	$312
CANADA PENSION PLAN INVESTMENT BOARD	9,800	$256
MERCER GLOBAL ADVISORS INC /ADV	8,018	$210
US BANCORP \DE\	99	$3
Rockefeller Capital Management L.P.	87	$2
MAI Capital Management	18	$0
Trust Co	17	$0

Increased Positions (44)

ROYCE & ASSOCIATES LP

Value ($000) $21,523 (+40.7%) Shares 823,364 (+27.0%)

Pacific Ridge Capital Partners, LLC

Value ($000) $1,238 (+15.9%) Shares 47,374 (+4.7%)

Polaris Capital Management, LLC

Value ($000) $2,154 (+18.5%) Shares 82,400 (+7.0%)

BRIDGEWAY CAPITAL MANAGEMENT, LLC

Value ($000) $5,312 (+20.2%) Shares 203,207 (+8.5%)

Empowered Funds, LLC

Value ($000) $3,069 (+28.1%) Shares 117,407 (+15.7%)

Campbell & CO Investment Adviser LLC

Value ($000) $540 (+44.8%) Shares 20,670 (+30.8%)

Sterling Capital Management LLC

Value ($000) $404 (+769.9%) Shares 15,440 (+685.8%)

AMERICAN CENTURY COMPANIES INC

Value ($000) $20,582 (+19.3%) Shares 787,357 (+7.8%)

PRUDENTIAL FINANCIAL INC

Value ($000) $1,247 (+403.4%) Shares 47,715 (+354.6%)

GOLDMAN SACHS GROUP INC

Value ($000) $4,617 (+82.9%) Shares 176,630 (+65.2%)

DIMENSIONAL FUND ADVISORS LP

Value ($000) $28,333 (+17.2%) Shares 1,083,887 (+5.8%)

MILLENNIUM MANAGEMENT LLC

Value ($000) $1,617 (+256.9%) Shares 61,844 (+222.4%)

VANGUARD GROUP INC

Value ($000) $43,083 (+14.7%) Shares 1,648,151 (+3.6%)

Creative Planning

Value ($000) $1,802 (+123.7%) Shares 68,925 (+102.0%)

BlackRock, Inc.

Value ($000) $59,869 (+12.9%) Shares 2,290,313 (+2.0%)

AQR CAPITAL MANAGEMENT LLC

Value ($000) $2,699 (+45.7%) Shares 103,263 (+31.6%)

Y-Intercept (Hong Kong) Ltd

Value ($000) $352 (+69.6%) Shares 13,448 (+53.2%)

MORGAN STANLEY

Value ($000) $4,498 (+33.1%) Shares 172,090 (+20.2%)

MARSHALL WACE, LLP

Value ($000) $965 (+96.6%) Shares 36,930 (+77.5%)

BANK OF AMERICA CORP /DE/

Value ($000) $1,401 (+66.0%) Shares 53,592 (+50.0%)

Institution	Prev Shares	Curr Shares	Change
ROYCE & ASSOCIATES LP	648,080	823,364	+175,284 (+27.0%)
Pacific Ridge Capital Partners, LLC	45,264	47,374	+2,110 (+4.7%)
Polaris Capital Management, LLC	77,000	82,400	+5,400 (+7.0%)
BRIDGEWAY CAPITAL MANAGEMENT, LLC	187,248	203,207	+15,959 (+8.5%)
Empowered Funds, LLC	101,448	117,407	+15,959 (+15.7%)
Campbell & CO Investment Adviser LLC	15,805	20,670	+4,865 (+30.8%)
Sterling Capital Management LLC	1,965	15,440	+13,475 (+685.8%)
AMERICAN CENTURY COMPANIES INC	730,694	787,357	+56,663 (+7.8%)
PRUDENTIAL FINANCIAL INC	10,495	47,715	+37,220 (+354.6%)
GOLDMAN SACHS GROUP INC	106,907	176,630	+69,723 (+65.2%)
DIMENSIONAL FUND ADVISORS LP	1,024,248	1,083,887	+59,639 (+5.8%)
MILLENNIUM MANAGEMENT LLC	19,183	61,844	+42,661 (+222.4%)
VANGUARD GROUP INC	1,591,098	1,648,151	+57,053 (+3.6%)
Creative Planning	34,115	68,925	+34,810 (+102.0%)
BlackRock, Inc.	2,246,261	2,290,313	+44,052 (+2.0%)
AQR CAPITAL MANAGEMENT LLC	78,476	103,263	+24,787 (+31.6%)
Y-Intercept (Hong Kong) Ltd	8,779	13,448	+4,669 (+53.2%)
MORGAN STANLEY	143,126	172,090	+28,964 (+20.2%)
MARSHALL WACE, LLP	20,800	36,930	+16,130 (+77.5%)
BANK OF AMERICA CORP /DE/	35,735	53,592	+17,857 (+50.0%)

Decreased Positions (51)

BANC FUNDS CO LLC

Value ($000) $4,981 (-21.7%) Shares 190,549 (-29.2%)

Fourthstone LLC

Value ($000) $3,455 (-10.8%) Shares 132,169 (-19.4%)

Ranger Investment Management, L.P.

Value ($000) $8,427 (+3.2%) Shares 322,375 (-6.8%)

Womack Financial LLC

Value ($000) $1,350 (+8.5%) Shares 51,651 (-2.0%)

Robertson Stephens Wealth Management, LLC

Value ($000) $2,506 (-20.5%) Shares 95,862 (-28.2%)

CenterBook Partners LP

Value ($000) $804 (-25.6%) Shares 30,745 (-32.8%)

MARTINGALE ASSET MANAGEMENT L P

Value ($000) $534 (-31.2%) Shares 20,423 (-37.8%)

Penn Capital Management Company, LLC

Value ($000) $574 (-3.5%) Shares 21,956 (-12.8%)

FWL INVESTMENT MANAGEMENT, LLC

Value ($000) $13 (-68.6%) Shares 500 (-71.6%)

Qube Research & Technologies Ltd

Value ($000) $515 (-63.8%) Shares 19,691 (-67.3%)

Connor, Clark & Lunn Investment Management Ltd.

Value ($000) $1,234 (-25.8%) Shares 47,218 (-33.0%)

JANUS HENDERSON GROUP PLC

Value ($000) $25,778 (+7.2%) Shares 986,146 (-3.2%)

JPMORGAN CHASE & CO

Value ($000) $7,166 (-3.0%) Shares 274,131 (-12.3%)

Aquatic Capital Management LLC

Value ($000) $51 (-69.9%) Shares 1,932 (-72.8%)

FRANKLIN RESOURCES INC

Value ($000) $4,056 (-6.8%) Shares 155,159 (-15.8%)

JANE STREET GROUP, LLC

Value ($000) $487 (-55.9%) Shares 18,631 (-60.2%)

Verition Fund Management LLC

Value ($000) $270 (-47.7%) Shares 10,319 (-52.7%)

Geneos Wealth Management Inc.

Value ($000) $1,000 (+1.7%) Shares 38,237 (-8.2%)

NORTHERN TRUST CORP

Value ($000) $6,837 (+4.0%) Shares 261,570 (-6.1%)

TWO SIGMA ADVISERS, LP

Value ($000) $423 (-33.8%) Shares 16,200 (-40.2%)

Institution	Prev Shares	Curr Shares	Change
BANC FUNDS CO LLC	269,264	190,549	-78,715 (-29.2%)
Fourthstone LLC	164,024	132,169	-31,855 (-19.4%)
Ranger Investment Management, L.P.	345,855	322,375	-23,480 (-6.8%)
Womack Financial LLC	52,705	51,651	-1,054 (-2.0%)
Robertson Stephens Wealth Management, LLC	133,456	95,862	-37,594 (-28.2%)
CenterBook Partners LP	45,752	30,745	-15,007 (-32.8%)
MARTINGALE ASSET MANAGEMENT L P	32,850	20,423	-12,427 (-37.8%)
Penn Capital Management Company, LLC	25,191	21,956	-3,235 (-12.8%)
FWL INVESTMENT MANAGEMENT, LLC	1,762	500	-1,262 (-71.6%)
Qube Research & Technologies Ltd	60,267	19,691	-40,576 (-67.3%)
Connor, Clark & Lunn Investment Management Ltd.	70,494	47,218	-23,276 (-33.0%)
JANUS HENDERSON GROUP PLC	1,018,807	986,146	-32,661 (-3.2%)
JPMORGAN CHASE & CO	312,746	274,131	-38,615 (-12.3%)
Aquatic Capital Management LLC	7,114	1,932	-5,182 (-72.8%)
FRANKLIN RESOURCES INC	184,310	155,159	-29,151 (-15.8%)
JANE STREET GROUP, LLC	46,774	18,631	-28,143 (-60.2%)
Verition Fund Management LLC	21,829	10,319	-11,510 (-52.7%)
Geneos Wealth Management Inc.	41,637	38,237	-3,400 (-8.2%)
NORTHERN TRUST CORP	278,477	261,570	-16,907 (-6.1%)
TWO SIGMA ADVISERS, LP	27,100	16,200	-10,900 (-40.2%)

Exited Positions (11)

PROSPECTOR PARTNERS LLC

Value ($000) $841 Shares 35,600

Dynamic Technology Lab Private Ltd

Value ($000) $343 Shares 14,510

Security National Bank

Value ($000) $401 Shares 16,965

Virtus ETF Advisers LLC

Value ($000) $123 Shares 5,204

XTX Topco Ltd

Value ($000) $266 Shares 11,261

Americana Partners, LLC

Value ($000) $291 Shares 12,338

Icon Wealth Advisors, LLC

Value ($000) $119 Shares 5,035

Quantbot Technologies LP

Value ($000) $33 Shares 1,417

JONES FINANCIAL COMPANIES LLLP

Value ($000) $29 Shares 1,200

CIBC Private Wealth Group, LLC

Value ($000) $1 Shares 40

SBI Securities Co., Ltd.

Value ($000) $0 Shares 1

Institution	Prev Shares	Prev Value ($000)
PROSPECTOR PARTNERS LLC	35,600	$841
Dynamic Technology Lab Private Ltd	14,510	$343
Security National Bank	16,965	$401
Virtus ETF Advisers LLC	5,204	$123
XTX Topco Ltd	11,261	$266
Americana Partners, LLC	12,338	$291
Icon Wealth Advisors, LLC	5,035	$119
Quantbot Technologies LP	1,417	$33
JONES FINANCIAL COMPANIES LLLP	1,200	$29
CIBC Private Wealth Group, LLC	40	$1
SBI Securities Co., Ltd.	1	$0