Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (51 quarters reported)
$146M in Q4 2013 → $145M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| QH Qcr Hldgs Inc | 5.7% | Unchanged | 85,100 | $8.28M |
| Origin Bancorp Inc | 4.5% | Unchanged | 128,151 | $6.55M |
| California Bancorp | 4.0% | Added 9.8% | 279,630 | $5.83M |
| HB Horizon Bancorp Ind | 3.9% | Unchanged | 284,669 | $5.69M |
| VN Valley Natl Bancorp | 3.7% | Unchanged | 360,935 | $5.29M |
| CF Citizens Finl Group Inc | 3.5% | Unchanged | 73,130 | $5.12M |
| East West Bancorp Inc | 3.3% | Unchanged | 37,200 | $4.8M |
| IB International Bancshares Cor | 3.3% | Unchanged | 62,487 | $4.75M |
| 1F 1st Finl Bancorp | 3.2% | Added 25% | 135,381 | $4.58M |
| ON Old Natl Bancorp Ind | 2.8% | Unchanged | 155,600 | $4.03M |
| ZB Zions Bancorporation Natl As | 2.8% | Trimmed 8.0% | 57,850 | $4M |
| FF Franklin Finl Svcs Corp | 2.8% | Unchanged | 63,910 | $4M |
| Connectone Bancorp Inc | 2.4% | Unchanged | 103,219 | $3.45M |
| VN Virginia Natl Bk Chrlotsvle | 2.3% | Unchanged | 74,879 | $3.32M |
| HF Hanmi Finl Corp | 2.2% | Unchanged | 97,720 | $3.17M |
| Plumas Bancorp | 2.2% | Unchanged | 53,778 | $3.14M |
| UF Umb Finl Corp | 2.2% | Unchanged | 22,002 | $3.14M |
| Fifth Third Bancorp | 2.1% | Unchanged | 55,000 | $3.1M |
| OS Old Second Bancorp Inc Del | 2.1% | Trimmed 22% | 129,457 | $3.02M |
| First Busey Corp | 2.0% | Unchanged | 99,797 | $2.94M |
| BH Bar Hbr Bankshares | 2.0% | Unchanged | 77,623 | $2.93M |
| MB Mercantile Bk Corp | 2.0% | Unchanged | 50,971 | $2.93M |
| Peoples Bancorp Inc | 2.0% | Unchanged | 74,167 | $2.85M |
| BR Blue Ridge Bankshares Inc Va | 2.0% | Unchanged | 803,446 | $2.84M |
| DC Dime Coml Bancshares Inc | 2.0% | Trimmed 23% | 69,814 | $2.84M |
| Northrim Bancorp Inc | 2.0% | Unchanged | 102,268 | $2.84M |
| Smartfinancial Inc | 1.9% | Trimmed 7.8% | 59,042 | $2.77M |
| FC First Cmnty Corp S C | 1.9% | Unchanged | 83,624 | $2.73M |
| SF Simmons First Natl Corp | 1.7% | Unchanged | 109,369 | $2.48M |
| AN Ames Natl Corp | 1.6% | Unchanged | 80,480 | $2.38M |
| EB Eagle Bancorporation Inc | 1.6% | New | 82,078 | $2.33M |
| CB Columbia Bkg Sys Inc | 1.6% | Trimmed 27% | 72,400 | $2.32M |
| John Marshall Bancorp Inc | 1.6% | Unchanged | 105,339 | $2.3M |
| Uscb Financial Holdings Inc | 1.6% | Unchanged | 110,599 | $2.26M |
| CF Cnb Finl Corp Pa | 1.5% | Unchanged | 66,458 | $2.24M |
| Finward Bancorp | 1.5% | New | 57,622 | $2.12M |
| CB Capital Bancorp Inc Md | 1.5% | Unchanged | 60,224 | $2.12M |
| WN Western New Eng Bancorp Inc | 1.4% | Unchanged | 145,962 | $2.09M |
| Coastalsouth Bancshares Inc | 1.4% | Unchanged | 75,740 | $2.03M |
| Hometrust Bancshares Inc | 1.4% | Unchanged | 40,760 | $2.03M |
| AH Avidbank Hldgs Inc | 1.4% | Unchanged | 61,551 | $2.03M |
| FB Flagstar Bank National Assoc | 1.4% | Added 129% | 134,700 | $2.01M |
| Civista Bancshares Inc | 1.2% | Unchanged | 60,891 | $1.72M |
| OC Orange Cnty Bancorp Inc | 0.9% | New | 37,050 | $1.36M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Servisfirst Bancshares Inc | Exited | −34,000 | −$2.48M | — |
| EB Eagle Bancorporation Inc | New | +82,078 | +$2.33M | 1.6% |
| Finward Bancorp | New | +57,622 | +$2.12M | 1.5% |
| SB Seacoast Bkg Corp Fla | Exited | −68,477 | −$2.07M | — |
| Southern First Bancshares | Exited | −37,803 | −$2.06M | — |
| WF Wintrust Finl Corp | Exited | −14,392 | −$2M | — |
| FS First Seacoast Bancorp Inc | Exited | −138,076 | −$1.73M | — |
| OC Orange Cnty Bancorp Inc | New | +37,050 | +$1.36M | 0.9% |
| FB Flagstar Bank National Assoc | Added | +76,000 | +$1.14M | 1.4% |
| 1F 1st Finl Bancorp | Added | +27,127 | +$918K | 3.2% |
Showing the 10 largest of 16 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FF Franklin Finl Svcs Corp | New | +63,910 | +$3.26M | 2.5% |
| AU Atlantic Un Bankshares Corp | Exited | −85,575 | −$3.02M | — |
| 1F 1st Finl Bancorp | New | +108,254 | +$3.02M | 2.3% |
| WF Webster Finl Corp | Exited | −43,500 | −$2.74M | — |
| Fifth Third Bancorp | New | +55,000 | +$2.56M | 2.0% |
| First Busey Corp | New | +99,797 | +$2.52M | 1.9% |
| Servisfirst Bancshares Inc | New | +34,000 | +$2.48M | 1.9% |
| Ofg Bancorp | Exited | −56,219 | −$2.3M | — |
| CF Coastal Finl Corp Wa | Exited | −19,011 | −$2.18M | — |
| SF Simmons First Natl Corp | New | +109,369 | +$2.13M | 1.6% |
Showing the 10 largest of 38 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Horizon Bancorp Inc | Added | +180,047 | +$3.05M | 3.6% |
| Middlefield Banc Corp | Exited | −96,497 | −$2.9M | — |
| Huntington Bancshares Inc | Exited | −167,000 | −$2.88M | — |
| BM Bank Marin Bancorp | Exited | −110,512 | −$2.68M | — |
| UF Umb Finl Corp | Trimmed | −23,200 | −$2.67M | 0.7% |
| California Bancorp | New | +142,646 | +$2.66M | 2.2% |
| Origin Bancorp Inc | Added | +70,151 | +$2.64M | 3.9% |
| EF Enterprise Finl Svcs Corp | Exited | −43,342 | −$2.51M | — |
| MB Mercantile Bk Corp | New | +50,971 | +$2.45M | 2.0% |
| TC Texas Cap Bancshares Inc | Exited | −28,717 | −$2.43M | — |
Showing the 10 largest of 25 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VH Veritex Hldgs Inc | Exited | −185,925 | −$4.85M | — |
| IB International Bancshares Cor | New | +51,087 | +$3.51M | 2.8% |
| SF Synovus Finl Corp | Exited | −66,500 | −$3.44M | — |
| BM Bank Marin Bancorp | Trimmed | −96,343 | −$2.34M | 2.2% |
| Amalgamated Financial Corp | Exited | −72,040 | −$2.25M | — |
| WF Webster Finl Corp | New | +34,000 | +$2.02M | 1.6% |
| CB Columbia Bkg Sys Inc | New | +78,000 | +$2.01M | 1.6% |
| Origin Bancorp Inc | New | +56,000 | +$1.93M | 1.6% |
| Northrim Bancorp Inc | Added | +76,701 | +$1.66M | 1.8% |
| Coastalsouth Bancshares Inc | New | +75,740 | +$1.65M | 1.3% |
Showing the 10 largest of 40 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Trustmark Corp | Exited | −87,071 | −$3M | — |
| AU Atlantic Un Bankshares Corp | New | +76,020 | +$2.38M | 2.1% |
| EF Enterprise Finl Svcs Corp | New | +42,342 | +$2.33M | 2.1% |
| Connectone Bancorp Inc | New | +95,219 | +$2.21M | 2.0% |
| Qcr Holdings Inc | Trimmed | −31,280 | −$2.12M | 5.1% |
| Northrim Bancorp Inc | Trimmed | −22,217 | −$2.07M | 2.1% |
| VH Veritex Hldgs Inc | Added | +68,042 | +$1.78M | 4.4% |
| Middlefield Banc Corp | Added | +58,576 | +$1.76M | 2.3% |
| SB Seacoast Bkg Corp Fla | New | +60,977 | +$1.68M | 1.5% |
| BR Blue Ridge Bankshares Inc Va | Trimmed | −404,000 | −$1.45M | 2.6% |
Showing the 10 largest of 40 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Stellar Bancorp Inc | Exited | −186,217 | −$5.28M | — |
| Fifth Third Bancorp | Exited | −77,000 | −$3.26M | — |
| Keycorp | Exited | −188,000 | −$3.22M | — |
| UF Umb Finl Corp | New | +30,457 | +$3.08M | 2.8% |
| PF Peapack-gladstone Finl Corp | Exited | −76,980 | −$2.47M | — |
| Hometrust Bancshares Inc | New | +68,531 | +$2.35M | 2.1% |
| ZB Zions Bancorporation N A | New | +45,090 | +$2.25M | 2.0% |
| Red River Bancshares Inc | Exited | −38,709 | −$2.09M | — |
| Cf Bankshares Inc | Trimmed | −87,660 | −$1.93M | 0.5% |
| AN Ames Natl Corp | New | +107,385 | +$1.88M | 1.7% |
Showing the 10 largest of 42 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BM Bank Marin Bancorp | New | +238,952 | +$5.68M | 4.6% |
| Sandy Spring Bancorp Inc | Exited | −178,085 | −$5.59M | — |
| VB Village Bk & Tr Finl Corp | Exited | −54,493 | −$4.16M | — |
| PF Pinnacle Finl Partners Inc | Exited | −38,621 | −$3.78M | — |
| CF Coastal Finl Corp Wa | New | +36,555 | +$3.1M | 2.5% |
| EB Enterprise Bancorp Inc Mass | Exited | −79,467 | −$2.54M | — |
| MB Merchants Bancorp Ind | Exited | −52,763 | −$2.37M | — |
| SF Synovus Finl Corp | New | +44,900 | +$2.3M | 1.9% |
| FF First Fndtn Inc | Trimmed | −282,313 | −$1.75M | 1.4% |
| Ofg Bancorp | Trimmed | −21,977 | −$930K | 1.7% |
Showing the 10 largest of 22 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Bancshares Inc Ms | Exited | −175,056 | −$4.55M | — |
| Premier Financial Corp | Exited | −186,564 | −$3.82M | — |
| Huntington Bancshares Inc | New | +211,000 | +$3.1M | 2.5% |
| VN Valley Natl Bancorp | New | +337,435 | +$3.06M | 2.5% |
| M& M & T Bk Corp | New | +16,506 | +$2.94M | 2.4% |
| DC Dime Cmnty Bancshares Inc | New | +89,826 | +$2.59M | 2.1% |
| Mainstreet Bancshares Inc | Exited | −145,355 | −$2.58M | — |
| EB Enterprise Bancorp Inc Mass | New | +79,467 | +$2.54M | 2.1% |
| WF Webster Finl Corp | Exited | −57,475 | −$2.51M | — |
| VH Veritex Hldgs Inc | New | +92,883 | +$2.44M | 2.0% |
Showing the 10 largest of 35 changes.
Loading...
