Monarch Partners Asset Management 13FHR Quarterly holdings report by institutional manager | SEC 4 Feb 21

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
THE AARONS COMPANY INC	COM	00258W108	10,190	537,468	SH		SOLE		439,585	0	97,883
ACADEMY SPORTS & OUTDOORS IN	COM	00402L107	8,166	393,944	SH		SOLE		307,017	0	86,927
ADIENT PLC	ORD SHS	G0084W101	4,686	134,769	SH		SOLE		104,552	0	30,217
AEROVIRONMENT INC	COM	008073108	3,442	39,611	SH		SOLE		30,879	0	8,732
AGREE REALTY CORP	COM	008492100	6,087	91,421	SH		SOLE		70,945	0	20,476
AIR TRANSPORT SERVICES GRP I	COM	00922R105	6,059	193,318	SH		SOLE		150,209	0	43,109
ALBERTSONS COS INC	COMMON STOCK	013091103	3,749	213,255	SH		SOLE		169,590	0	43,665
ALLEGHENY TECHNOLOGIES INC	COM	01741R102	8,228	490,613	SH		SOLE		382,555	0	108,058
ALTA EQUIPMENT GROUP INC	COMMON STOCK	02128L106	941	95,250	SH		SOLE		95,250	0	0
AMER SOFTWARE INC	CL A	029683109	889	51,765	SH		SOLE		51,765	0	0
AMERESCO INC	CL A	02361E108	5,434	104,019	SH		SOLE		80,817	0	23,202
AMERICAN NATL BANKSHARES INC	COM	027745108	1,613	61,550	SH		SOLE		61,550	0	0
AMERICAN OUTDOOR BRANDS INC	COM	02875D109	840	49,325	SH		SOLE		49,325	0	0
AMERIS BANCORP	COM	03076K108	2,206	57,956	SH		SOLE		43,909	0	14,047
API GROUP CORP	COM STK	00187Y100	7,596	418,520	SH		SOLE		325,240	0	93,280
ARCH RESOURCES INC	CL A	03940R107	1,455	33,247	SH		SOLE		33,247	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	1,189	99,800	SH		SOLE		99,800	0	0
ATLAS AIR WORLDWIDE HLDGS IN	COM NEW	049164205	593	10,880	SH		SOLE		10,880	0	0
AVROBIO INC	COM	05455M100	369	26,485	SH		SOLE		26,485	0	0
BALLYS CORPORATION	COM	05875B106	9,542	189,971	SH		SOLE		147,385	0	42,586
BANDWIDTH INC	COM CL A	05988J103	6,235	40,574	SH		SOLE		31,475	0	9,099
BANK OZK	COM	06417N103	4,893	156,471	SH		SOLE		118,446	0	38,025
BARRETT BUSINESS SVCS INC	COM	068463108	1,055	15,471	SH		SOLE		15,471	0	0
BOINGO WIRELESS INC	COM	09739C102	1,072	84,275	SH		SOLE		84,275	0	0
BONANZA CREEK ENERGY INC	COM NEW	097793400	3,088	159,774	SH		SOLE		124,146	0	35,628
BOOT BARN HLDGS INC	COM	099406100	1,213	27,970	SH		SOLE		27,970	0	0
BOYD GAMING CORP	COM	103304101	4,366	101,724	SH		SOLE		77,049	0	24,675
BRIGHTSPHERE INVT GROUP INC	COM	10948W103	8,414	436,395	SH		SOLE		338,787	0	97,608
BRINKS CO	COM	109696104	9,741	135,289	SH		SOLE		105,089	0	30,200
BYLINE BANCORP INC	COM	124411109	1,161	75,165	SH		SOLE		75,165	0	0
CAI INTERNATIONAL INC	COM	12477X106	5,388	172,463	SH		SOLE		130,595	0	41,868
CAMBRIDGE BANCORP	COM	132152109	1,552	22,257	SH		SOLE		22,257	0	0
CASTLE BIOSCIENCES INC	COM	14843C105	5,300	78,932	SH		SOLE		65,655	0	13,277
CBTX INC	COM	12481V104	1,782	69,870	SH		SOLE		69,870	0	0
CENTURY CASINOS INC	COM	156492100	1,359	212,671	SH		SOLE		212,671	0	0
CHAMPIONX CORPORATION	COM	15872M104	6,570	429,433	SH		SOLE		333,558	0	95,875
CITY OFFICE REIT INC	COM	178587101	865	88,580	SH		SOLE		88,580	0	0
CIVISTA BANCSHARES INC	COM NO PAR	178867107	1,273	72,632	SH		SOLE		72,632	0	0
CLEVELAND-CLIFFS INC NEW	COM	185899101	7,286	500,402	SH		SOLE		388,700	0	111,702
COLFAX CORP	COM	194014106	5,987	156,564	SH		SOLE		121,811	0	34,753
COLLEGIUM PHARMACEUTICAL INC	COM	19459J104	848	42,320	SH		SOLE		42,320	0	0
COMERICA INC	COM	200340107	565	10,110	SH		SOLE		10,110	0	0
COMMUNITY BANKERS TR CORP	COM	203612106	1,491	220,875	SH		SOLE		220,875	0	0
COMMUNITY HEALTHCARE TR INC	COM	20369C106	4,521	95,965	SH		SOLE		74,496	0	21,469
CONNECTONE BANCORP INC	COM	20786W107	1,918	96,929	SH		SOLE		96,929	0	0
COOPER STD HLDGS INC	COM	21676P103	1,310	37,789	SH		SOLE		37,789	0	0
COVENANT LOGISTICS GROUP INC	CL A	22284P105	4,108	277,366	SH		SOLE		231,966	0	45,400
COWEN INC	CL A NEW	223622606	11,315	435,360	SH		SOLE		358,269	0	77,091
CTS CORP	COM	126501105	1,247	36,332	SH		SOLE		36,332	0	0
CULP INC	COM	230215105	1,225	77,165	SH		SOLE		77,165	0	0
DARLING INGREDIENTS INC	COM	237266101	504	8,735	SH		SOLE		8,735	0	0
DMC GLOBAL INC	COM	23291C103	1,227	28,375	SH		SOLE		28,375	0	0
DUCOMMUN INC DEL	COM	264147109	1,589	29,591	SH		SOLE		29,591	0	0
DYNEX CAP INC	COM	26817Q886	1,107	62,185	SH		SOLE		62,185	0	0
E L F BEAUTY INC	COM	26856L103	1,121	44,490	SH		SOLE		44,490	0	0
EARTHSTONE ENERGY INC	CL A	27032D304	4,317	810,010	SH		SOLE		697,149	0	112,861
EASTERN BANKSHARES INC	COM	27627N105	9,714	595,569	SH		SOLE		462,930	0	132,639
ENCORE WIRE CORP	COM	292562105	3,756	62,004	SH		SOLE		46,946	0	15,058
ENERGY RECOVERY INC	COM	29270J100	1,077	78,924	SH		SOLE		78,924	0	0
ENOVA INTL INC	COM	29357K103	1,699	68,593	SH		SOLE		68,593	0	0
ENPRO INDS INC	COM	29355X107	4,514	59,777	SH		SOLE		46,464	0	13,313
ENVISTA HOLDINGS CORPORATION	COM	29415F104	4,312	127,832	SH		SOLE		99,328	0	28,504
EVERCORE INC	CLASS A	29977A105	3,550	32,379	SH		SOLE		25,144	0	7,235
EVOQUA WATER TECHNOLOGIES CO	COM	30057T105	9,099	337,252	SH		SOLE		261,945	0	75,307
FIRST BANCORP N C	COM	318910106	900	26,600	SH		SOLE		26,600	0	0
FIRST BANCSHARES INC MS	COM	318916103	2,307	74,705	SH		SOLE		74,705	0	0
FIRST FNDTN INC	COM	32026V104	1,538	76,910	SH		SOLE		76,910	0	0
FIRST INTST BANCSYSTEM INC	COM CL A	32055Y201	4,015	98,476	SH		SOLE		74,465	0	24,011
FIRST NORTHWEST BANCORP	COM	335834107	620	39,740	SH		SOLE		39,740	0	0
FLEXION THERAPEUTICS INC	COM	33938J106	902	78,170	SH		SOLE		78,170	0	0
FORTERRA INC	COM	34960W106	6,992	406,625	SH		SOLE		335,189	0	71,436
GIBRALTAR INDS INC	COM	374689107	4,771	66,326	SH		SOLE		51,627	0	14,699
GLOBAL MED REIT INC	COM NEW	37954A204	1,271	97,295	SH		SOLE		97,295	0	0
GRANITE CONSTR INC	COM	387328107	3,167	118,564	SH		SOLE		92,037	0	26,527
GRAPHIC PACKAGING HLDG CO	COM	388689101	4,218	248,971	SH		SOLE		188,518	0	60,453
GREEN BRICK PARTNERS INC	COM	392709101	1,462	63,678	SH		SOLE		63,678	0	0
GREENBRIER COS INC	COM	393657101	3,709	101,953	SH		SOLE		79,327	0	22,626
HANCOCK WHITNEY CORPORATION	COM	410120109	4,946	145,395	SH		SOLE		110,060	0	35,335
HANGER INC	COM NEW	41043F208	6,288	285,969	SH		SOLE		234,241	0	51,728
HANOVER INS GROUP INC	COM	410867105	7,327	62,669	SH		SOLE		48,038	0	14,631
HARBORONE BANCORP INC NEW	COM NEW	41165Y100	2,129	196,075	SH		SOLE		196,075	0	0
HCI GROUP INC	COM	40416E103	1,392	26,615	SH		SOLE		26,615	0	0
HEALTH CATALYST INC	COM	42225T107	4,783	109,871	SH		SOLE		83,263	0	26,608
HESKA CORP	COM RESTRC NEW	42805E306	915	6,280	SH		SOLE		6,280	0	0
HILLENBRAND INC	COM	431571108	6,846	172,008	SH		SOLE		132,294	0	39,714
I3 VERTICALS INC	COM CL A	46571Y107	1,406	42,335	SH		SOLE		42,335	0	0
ICHOR HOLDINGS	SHS	G4740B105	4,095	135,855	SH		SOLE		114,923	0	20,932
ICON PLC	SHS	G4705A100	461	2,363	SH		SOLE		2,363	0	0
IES HLDGS INC	COM	44951W106	1,218	26,450	SH		SOLE		26,450	0	0
IMMUNOGEN INC	COM	45253H101	685	106,165	SH		SOLE		106,165	0	0
INTEGRA LIFESCIENCES HLDGS C	COM NEW	457985208	5,665	87,266	SH		SOLE		67,810	0	19,456
INTERNATIONAL BANCSHARES COR	COM	459044103	7,185	191,918	SH		SOLE		148,885	0	43,033
INVACARE CORP	COM	461203101	911	101,830	SH		SOLE		101,830	0	0
INVESCO LTD	SHS	G491BT108	546	31,315	SH		SOLE		31,315	0	0
IVERIC BIO INC	COM	46583P102	620	89,665	SH		SOLE		89,665	0	0
KFORCE INC	COM	493732101	1,156	27,470	SH		SOLE		27,470	0	0
KORN FERRY	COM NEW	500643200	7,307	167,988	SH		SOLE		130,473	0	37,515
LAKELAND FINL CORP	COM	511656100	4,400	82,113	SH		SOLE		62,183	0	19,930
LIFE STORAGE INC	COM	53223X107	9,085	76,098	SH		SOLE		59,527	0	16,571
LOVESAC COMPANY	COM	54738L109	1,179	27,350	SH		SOLE		27,350	0	0
MAGNACHIP SEMICONDUCTOR CORP	COM	55933J203	957	70,814	SH		SOLE		70,814	0	0
MANTECH INTL CORP	CL A	564563104	7,171	80,622	SH		SOLE		62,699	0	17,923
MASTERCRAFT BOAT HLDGS INC	COM	57637H103	6,125	246,577	SH		SOLE		209,637	0	36,940
MATADOR RES CO	COM	576485205	2,443	202,573	SH		SOLE		157,682	0	44,891
MATTEL INC	COM	577081102	4,491	257,350	SH		SOLE		199,880	0	57,470
MERIDIAN BANCORP INC MD	COM	58958U103	5,351	358,903	SH		SOLE		272,069	0	86,834
MIMECAST LTD	ORD SHS	G14838109	7,041	123,869	SH		SOLE		96,099	0	27,770
MKS INSTRS INC	COM	55306N104	403	2,679	SH		SOLE		2,679	0	0
MOELIS & CO	CL A	60786M105	7,627	163,101	SH		SOLE		126,756	0	36,345
MONARCH CASINO & RESORT INC	COM	609027107	1,739	28,399	SH		SOLE		28,399	0	0
MVB FINL CORP	COM	553810102	1,542	67,985	SH		SOLE		67,985	0	0
NEXPOINT REAL ESTATE FIN INC	COM	65342V101	977	59,146	SH		SOLE		59,146	0	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	1,384	32,715	SH		SOLE		32,715	0	0
NOMAD FOODS LTD	USD ORD SHS	G6564A105	2,235	87,921	SH		SOLE		68,288	0	19,633
NOODLES & CO	COM CL A	65540B105	1,015	128,480	SH		SOLE		128,480	0	0
NORTHEAST BK LEWISTON ME	COM	66405S100	1,998	88,740	SH		SOLE		88,740	0	0
ORBCOMM INC	COM	68555P100	5,491	740,088	SH		SOLE		627,537	0	112,551
ORION GROUP HOLDINGS INC	COM	68628V308	1,327	267,520	SH		SOLE		267,520	0	0
ORTHOPEDIATRICS CORP	COM	68752L100	941	22,815	SH		SOLE		22,815	0	0
PATRICK INDS INC	COM	703343103	4,499	65,828	SH		SOLE		51,221	0	14,607
PERION NETWORK LTD	SHS NEW	M78673114	572	44,924	SH		SOLE		44,924	0	0
PHYSICIANS RLTY TR	COM	71943U104	3,640	204,522	SH		SOLE		158,938	0	45,584
PINNACLE FINL PARTNERS INC	COM	72346Q104	9,112	141,491	SH		SOLE		109,978	0	31,513
POSTAL REALTY TRUST INC	CL A	73757R102	1,108	65,615	SH		SOLE		65,615	0	0
PROG HOLDINGS INC	COM NPV	74319R101	10,020	186,003	SH		SOLE		144,739	0	41,264
PROSPERITY BANCSHARES INC	COM	743606105	4,369	62,988	SH		SOLE		49,374	0	13,614
PURE CYCLE CORP	COM NEW	746228303	957	85,222	SH		SOLE		85,222	0	0
PZENA INVT MGMT INC	CLASS A	74731Q103	577	79,021	SH		SOLE		79,021	0	0
QCR HOLDINGS INC	COM	74727A104	2,522	63,709	SH		SOLE		63,709	0	0
QUANTERIX CORP	COM	74766Q101	1,022	21,975	SH		SOLE		21,975	0	0
RADA ELECTR INDS LTD	COM PAR NEW	M81863124	1,125	115,416	SH		SOLE		115,416	0	0
REX AMERICAN RES CORP	COM	761624105	3,254	44,291	SH		SOLE		37,328	0	6,963
RYDER SYS INC	COM	783549108	5,880	95,200	SH		SOLE		74,433	0	20,767
SEASPINE HLDGS CORP	COM	81255T108	1,501	86,042	SH		SOLE		86,042	0	0
SELECT INTERIOR CONCEPTS INC	CL A	816120307	1,037	145,035	SH		SOLE		145,035	0	0
SHYFT GROUP INC	COM	825698103	1,895	66,763	SH		SOLE		66,763	0	0
SIGNATURE BK NEW YORK N Y	COM	82669G104	7,624	56,353	SH		SOLE		43,426	0	12,927
SINCLAIR BROADCAST GROUP INC	CL A	829226109	4,902	153,910	SH		SOLE		119,610	0	34,300
SOUTHERN FIRST BANCSHARES	COM	842873101	1,849	52,317	SH		SOLE		52,317	0	0
STERLING CONSTR INC	COM	859241101	5,450	292,847	SH		SOLE		245,842	0	47,005
STOCK YDS BANCORP INC	COM	861025104	1,422	35,120	SH		SOLE		35,120	0	0
STONERIDGE INC	COM	86183P102	1,879	62,156	SH		SOLE		62,156	0	0
STRIDE INC	COM	86333M108	6,136	289,017	SH		SOLE		223,665	0	65,352
SUMMIT HOTEL PPTYS INC	COM	866082100	3,370	374,079	SH		SOLE		314,374	0	59,705
SUNSTONE HOTEL INVS INC NEW	COM	867892101	3,460	305,369	SH		SOLE		237,204	0	68,165
TECNOGLASS INC	SHS	G87264100	860	124,448	SH		SOLE		124,448	0	0
TEXTAINER GROUP HOLDINGS LTD	SHS	G8766E109	1,481	77,215	SH		SOLE		77,215	0	0
THOR INDS INC	COM	885160101	4,255	45,755	SH		SOLE		35,602	0	10,153
TITAN MACHY INC	COM	88830R101	898	45,915	SH		SOLE		45,915	0	0
TOWER SEMICONDUCTOR LTD	SHS NEW	M87915274	3,249	125,838	SH		SOLE		97,720	0	28,118
TOWNEBANK PORTSMOUTH VA	COM	89214P109	3,365	143,315	SH		SOLE		108,573	0	34,742
TRAVELCENTERS OF AMERICA INC	COM NEW	89421B109	4,955	151,992	SH		SOLE		123,573	0	28,419
TURNING PT BRANDS INC	COM	90041L105	3,542	79,497	SH		SOLE		68,646	0	10,851
U S XPRESS ENTERPRISES INC	COM CL A	90338N202	764	111,673	SH		SOLE		111,673	0	0
UFP TECHNOLOGIES INC	COM	902673102	1,482	31,808	SH		SOLE		31,808	0	0
UNITED STS LIME & MINERALS I	COM	911922102	876	7,683	SH		SOLE		7,683	0	0
UNIVERSAL TECHNICAL INST INC	COM	913915104	872	134,999	SH		SOLE		134,999	0	0
UNIVEST FINANCIAL CORPORATIO	COM	915271100	1,459	70,890	SH		SOLE		70,890	0	0
UPLAND SOFTWARE INC	COM	91544A109	7,328	159,683	SH		SOLE		128,443	0	31,240
VENATOR MATLS PLC	SHS	G9329Z100	1,598	482,798	SH		SOLE		482,798	0	0
VILLAGE FARMS INTL INC	COM	92707Y108	7,341	723,919	SH		SOLE		561,599	0	162,320
VISTA OUTDOOR INC	COM	928377100	5,445	229,170	SH		SOLE		177,785	0	51,385
WNS HLDGS LTD	SPON ADR	92932M101	4,033	55,979	SH		SOLE		43,590	0	12,389
XENIA HOTELS & RESORTS INC	COM	984017103	5,139	338,123	SH		SOLE		262,874	0	75,249
XPO LOGISTICS INC	COM	983793100	747	6,270	SH		SOLE		6,270	0	0
ZIONS BANCORPORATION N A	COM	989701107	7,633	175,711	SH		SOLE		136,503	0	39,208
ZUMIEZ INC	COM	989817101	1,539	41,830	SH		SOLE		41,830	0	0

Monarch Partners Asset Management 13F-HRQuarterly holdings report by institutional manager