Monarch Partners Asset Management 13FHR Quarterly holdings report by institutional manager | SEC 11 May 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	7,752	301,858	SH		SOLE		250,101	0	51,757
ACADEMY SPORTS & OUTDOORS IN	COM	00402L107	4,502	166,795	SH		SOLE		131,693	0	35,102
ADDUS HOMECARE CORP	COM	006739106	6,115	58,471	SH		SOLE		45,323	0	13,148
ADIENT PLC	ORD SHS	G0084W101	6,140	138,918	SH		SOLE		110,286	0	28,632
ALTA EQUIPMENT GROUP INC	COMMON STOCK	02128L106	1,487	114,365	SH		SOLE		114,365	0	0
AMERICAN NATL BANKSHARES INC	COM	027745108	1,977	59,795	SH		SOLE		59,795	0	0
AMERICAN OUTDOOR BRANDS INC	COM	02875D109	2,586	102,630	SH		SOLE		102,630	0	0
AMPCO-PITTSBURG CORP	COM	032037103	1,026	151,960	SH		SOLE		151,960	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	1,834	133,675	SH		SOLE		133,675	0	0
ATLAS AIR WORLDWIDE HLDGS IN	COM NEW	049164205	6,166	102,016	SH		SOLE		79,297	0	22,719
AVROBIO INC	COM	05455M100	347	27,320	SH		SOLE		27,320	0	0
AXCELIS TECHNOLOGIES INC	COM NEW	054540208	10,472	254,863	SH		SOLE		206,378	0	48,485
BALLYS CORPORATION	COM	05875B106	3,733	57,451	SH		SOLE		44,516	0	12,935
BANK OZK	COM	06417N103	5,763	141,080	SH		SOLE		106,405	0	34,675
BARRETT BUSINESS SVCS INC	COM	068463108	1,036	15,041	SH		SOLE		15,041	0	0
BOOT BARN HLDGS INC	COM	099406100	2,174	34,895	SH		SOLE		34,895	0	0
BOYD GAMING CORP	COM	103304101	3,464	58,747	SH		SOLE		44,312	0	14,435
BRIGHTSPHERE INVT GROUP INC	COM	10948W103	8,412	412,768	SH		SOLE		320,250	0	92,518
BRINKS CO	COM	109696104	8,166	103,070	SH		SOLE		81,210	0	21,860
BRIXMOR PPTY GROUP INC	COM	11120U105	5,861	289,726	SH		SOLE		224,646	0	65,080
BYLINE BANCORP INC	COM	124411109	1,506	71,190	SH		SOLE		71,190	0	0
CAI INTERNATIONAL INC	COM	12477X106	9,209	202,297	SH		SOLE		155,869	0	46,428
CAMBRIDGE BANCORP	COM	132152109	2,842	33,707	SH		SOLE		33,707	0	0
CASTLE BIOSCIENCES INC	COM	14843C105	935	13,660	SH		SOLE		13,660	0	0
CENTURY CASINOS INC	COM	156492100	1,774	172,746	SH		SOLE		172,746	0	0
CHAMPIONX CORPORATION	COM	15872M104	5,708	262,686	SH		SOLE		204,781	0	57,905
CITY OFFICE REIT INC	COM	178587101	1,503	141,540	SH		SOLE		141,540	0	0
CIVISTA BANCSHARES INC	COM NO PAR	178867107	1,618	70,552	SH		SOLE		70,552	0	0
CLARUS CORP NEW	COM	18270P109	2,235	131,080	SH		SOLE		131,080	0	0
CLEVELAND-CLIFFS INC NEW	COM	185899101	8,975	446,279	SH		SOLE		345,927	0	100,352
COHU INC	COM	192576106	1,040	24,865	SH		SOLE		24,865	0	0
COLFAX CORP	COM	194014106	7,375	168,332	SH		SOLE		130,489	0	37,843
COLLEGIUM PHARMACEUTICAL INC	COM	19459J104	974	41,105	SH		SOLE		41,105	0	0
COMMUNITY HEALTHCARE TR INC	COM	20369C106	4,516	97,921	SH		SOLE		77,587	0	20,334
CONNECTONE BANCORP INC	COM	20786W107	1,830	72,199	SH		SOLE		72,199	0	0
COOPER STD HLDGS INC	COM	21676P103	698	19,209	SH		SOLE		19,209	0	0
COWEN INC	CL A NEW	223622606	9,641	274,290	SH		SOLE		227,844	0	46,446
CTS CORP	COM	126501105	1,929	62,112	SH		SOLE		62,112	0	0
CUTERA INC	COM	232109108	1,162	38,680	SH		SOLE		38,680	0	0
DESIGNER BRANDS INC	CL A	250565108	10,391	597,190	SH		SOLE		492,220	0	104,970
DMC GLOBAL INC	COM	23291C103	1,265	23,320	SH		SOLE		23,320	0	0
DUCOMMUN INC DEL	COM	264147109	1,177	19,611	SH		SOLE		19,611	0	0
DYNEX CAP INC	COM	26817Q886	1,144	60,410	SH		SOLE		60,410	0	0
EARTHSTONE ENERGY INC	CL A	27032D304	6,925	968,512	SH		SOLE		809,865	0	158,647
EASTERN BANKSHARES INC	COM	27627N105	7,402	383,735	SH		SOLE		297,496	0	86,239
ENCORE WIRE CORP	COM	292562105	8,181	121,867	SH		SOLE		94,443	0	27,424
ENERGY RECOVERY INC	COM	29270J100	1,462	79,719	SH		SOLE		79,719	0	0
ENOVA INTL INC	COM	29357K103	1,226	34,558	SH		SOLE		34,558	0	0
ENPRO INDS INC	COM	29355X107	5,027	58,953	SH		SOLE		46,270	0	12,683
ENTERPRISE FINL SVCS CORP	COM	293712105	7,759	156,946	SH		SOLE		118,378	0	38,568
ENVISTA HOLDINGS CORPORATION	COM	29415F104	4,502	110,345	SH		SOLE		83,251	0	27,094
EVERCORE INC	CLASS A	29977A105	6,699	50,853	SH		SOLE		39,435	0	11,418
EVERI HLDGS INC	COM	30034T103	1,415	100,270	SH		SOLE		100,270	0	0
EVOQUA WATER TECHNOLOGIES CO	COM	30057T105	11,958	454,692	SH		SOLE		352,440	0	102,252
FIRST BANCSHARES INC MS	COM	318916103	2,291	62,575	SH		SOLE		62,575	0	0
FIRST MERCHANTS CORP	COM	320817109	8,359	179,765	SH		SOLE		138,680	0	41,085
FIRST NORTHWEST BANCORP	COM	335834107	1,452	87,345	SH		SOLE		87,345	0	0
FLEXION THERAPEUTICS INC	COM	33938J106	680	75,935	SH		SOLE		75,935	0	0
FORMFACTOR INC	COM	346375108	5,433	120,440	SH		SOLE		94,125	0	26,315
GATES INDUSTRIAL CORPRATIN P	ORD SHS	G39108108	7,004	438,000	SH		SOLE		340,433	0	97,567
GLACIER BANCORP INC NEW	COM	37637Q105	5,331	93,390	SH		SOLE		70,449	0	22,941
GREAT WESTN NATL BK PORTLAND	COM	695263103	6,400	167,769	SH		SOLE		126,569	0	41,200
GREEN PLAINS INC	COM	393222104	15,686	579,469	SH		SOLE		470,049	0	109,420
GUARANTY BANCSHARES INC TEX	COM	400764106	1,956	53,213	SH		SOLE		53,213	0	0
HANGER INC	COM NEW	41043F208	6,487	284,281	SH		SOLE		235,148	0	49,133
HANOVER INS GROUP INC	COM	410867105	5,104	39,427	SH		SOLE		30,565	0	8,862
HARSCO CORP	COM	415864107	5,250	306,120	SH		SOLE		237,301	0	68,819
HCI GROUP INC	COM	40416E103	3,039	39,560	SH		SOLE		39,560	0	0
HEALTH CATALYST INC	COM	42225T107	4,822	103,095	SH		SOLE		77,762	0	25,333
HESKA CORP	COM RESTRC NEW	42805E306	7,153	42,461	SH		SOLE		34,564	0	7,897
HILLENBRAND INC	COM	431571108	6,294	131,923	SH		SOLE		101,554	0	30,369
ICHOR HOLDINGS	SHS	G4740B105	2,204	40,970	SH		SOLE		40,970	0	0
ICON PLC	SHS	G4705A100	486	2,473	SH		SOLE		2,473	0	0
IES HLDGS INC	COM	44951W106	1,295	25,695	SH		SOLE		25,695	0	0
IMMUNOGEN INC	COM	45253H101	752	92,780	SH		SOLE		92,780	0	0
INTEGRA LIFESCIENCES HLDGS C	COM NEW	457985208	5,707	82,608	SH		SOLE		64,117	0	18,491
INTERNATIONAL BANCSHARES COR	COM	459044103	7,172	154,498	SH		SOLE		120,020	0	34,478
INVACARE CORP	COM	461203101	793	98,920	SH		SOLE		98,920	0	0
IVERIC BIO INC	COM	46583P102	742	120,075	SH		SOLE		120,075	0	0
KFORCE INC	COM	493732101	1,430	26,680	SH		SOLE		26,680	0	0
KIMCO RLTY CORP	COM	49446R109	5,748	306,539	SH		SOLE		239,909	0	66,630
KONTOOR BRANDS INC	COM	50050N103	6,834	140,825	SH		SOLE		109,210	0	31,615
KORN FERRY	COM NEW	500643200	12,189	195,432	SH		SOLE		152,007	0	43,425
LAKELAND FINL CORP	COM	511656100	6,707	96,930	SH		SOLE		73,128	0	23,802
LIVE OAK BANCSHARES INC	COM	53803X105	10,407	151,956	SH		SOLE		117,714	0	34,242
LOVESAC COMPANY	COM	54738L109	1,713	30,265	SH		SOLE		30,265	0	0
MAGNACHIP SEMICONDUCTOR CORP	COM	55933J203	8,630	346,579	SH		SOLE		290,694	0	55,885
MASTERCRAFT BOAT HLDGS INC	COM	57637H103	6,985	262,689	SH		SOLE		221,447	0	41,242
MATTEL INC	COM	577081102	10,708	537,559	SH		SOLE		416,693	0	120,866
MEDPACE HLDGS INC	COM	58506Q109	653	3,980	SH		SOLE		3,980	0	0
MONARCH CASINO & RESORT INC	COM	609027107	6,366	105,017	SH		SOLE		91,263	0	13,754
MVB FINL CORP	COM	553810102	1,453	42,975	SH		SOLE		42,975	0	0
NEXPOINT REAL ESTATE FIN INC	COM	65342V101	1,068	57,461	SH		SOLE		57,461	0	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	751	16,285	SH		SOLE		16,285	0	0
NOODLES & CO	COM CL A	65540B105	1,292	124,805	SH		SOLE		124,805	0	0
NORTHEAST BK LEWISTON ME	COM	66405S100	2,275	86,195	SH		SOLE		86,195	0	0
OFG BANCORP	COM	67103X102	2,979	131,690	SH		SOLE		131,690	0	0
ORBCOMM INC	COM	68555P100	1,565	205,112	SH		SOLE		205,112	0	0
ORION GROUP HLDGS INC	COM	68628V308	1,577	259,875	SH		SOLE		259,875	0	0
ORTHOPEDIATRICS CORP	COM	68752L100	1,081	22,165	SH		SOLE		22,165	0	0
PEOPLES UNITED FINANCIAL INC	COM	712704105	677	37,795	SH		SOLE		37,795	0	0
PERION NETWORK LTD	SHS NEW	M78673114	5,213	291,246	SH		SOLE		238,790	0	52,456
POPULAR INC	COM NEW	733174700	12,853	182,778	SH		SOLE		142,363	0	40,415
PREMIER FINANCIAL CORP	COM	74052F108	6,139	184,570	SH		SOLE		155,675	0	28,895
PRIMORIS SVCS CORP	COM	74164F103	6,913	208,658	SH		SOLE		161,738	0	46,920
PROPETRO HLDG CORP	COM	74347M108	1,551	145,505	SH		SOLE		145,505	0	0
PURE CYCLE CORP	COM NEW	746228303	801	59,697	SH		SOLE		59,697	0	0
PZENA INVT MGMT INC	CLASS A	74731Q103	2,657	252,341	SH		SOLE		252,341	0	0
QCR HOLDINGS INC	COM	74727A104	2,306	48,839	SH		SOLE		48,839	0	0
QUANTERIX CORP	COM	74766Q101	928	15,870	SH		SOLE		15,870	0	0
RADA ELECTR INDS LTD	COM PAR NEW	M81863124	1,346	112,111	SH		SOLE		112,111	0	0
RELIANT BANCORP INC	COM	75956B101	5,522	192,286	SH		SOLE		166,967	0	25,319
RENEWABLE ENERGY GROUP INC	COM NEW	75972A301	8,121	122,968	SH		SOLE		96,404	0	26,564
REX AMERICAN RES CORP	COM	761624105	4,212	50,039	SH		SOLE		42,358	0	7,681
RYDER SYS INC	COM	783549108	5,446	71,996	SH		SOLE		55,810	0	16,186
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	9,542	123,101	SH		SOLE		95,444	0	27,657
SEASPINE HLDGS CORP	COM	81255T108	1,454	83,577	SH		SOLE		83,577	0	0
SELECT INTERIOR CONCEPTS INC	CL A	816120307	1,014	140,880	SH		SOLE		140,880	0	0
SEVERN BANCORP INC ANNAPOLIS	COM	81811M100	1,438	118,880	SH		SOLE		118,880	0	0
SHYFT GROUP INC	COM	825698103	8,800	236,549	SH		SOLE		197,904	0	38,645
SIX FLAGS ENTMT CORP NEW	COM	83001A102	11,731	252,436	SH		SOLE		195,671	0	56,765
SKECHERS U S A INC	CL A	830566105	9,710	232,790	SH		SOLE		180,535	0	52,255
SM ENERGY CO	COM	78454L100	4,700	287,140	SH		SOLE		244,660	0	42,480
SOUTHERN FIRST BANCSHARES	COM	842873101	2,417	51,562	SH		SOLE		51,562	0	0
STERLING CONSTR INC	COM	859241101	7,152	308,297	SH		SOLE		263,542	0	44,755
STOCK YDS BANCORP INC	COM	861025104	2,097	41,070	SH		SOLE		41,070	0	0
STONERIDGE INC	COM	86183P102	1,920	60,371	SH		SOLE		60,371	0	0
SUMMIT HOTEL PPTYS INC	COM	866082100	5,423	533,799	SH		SOLE		445,529	0	88,270
SUMMIT MATLS INC	CL A	86614U100	7,819	279,035	SH		SOLE		216,375	0	62,660
SUNSTONE HOTEL INVS INC NEW	COM	867892101	3,603	289,188	SH		SOLE		224,263	0	64,925
SYNNEX CORP	COM	87162W100	6,327	55,096	SH		SOLE		42,709	0	12,387
TECNOGLASS INC	SHS	G87264100	2,377	197,719	SH		SOLE		197,719	0	0
TEXTAINER GROUP HOLDINGS LTD	SHS	G8766E109	2,176	75,945	SH		SOLE		75,945	0	0
TITAN MACHY INC	COM	88830R101	6,478	254,055	SH		SOLE		206,154	0	47,901
TOWER SEMICONDUCTOR LTD	SHS NEW	M87915274	5,897	210,319	SH		SOLE		163,139	0	47,180
TOWNEBANK PORTSMOUTH VA	COM	89214P109	4,081	134,236	SH		SOLE		101,234	0	33,002
TRIUMPH BANCORP INC	COM	89679E300	2,028	26,205	SH		SOLE		26,205	0	0
TURNING PT BRANDS INC	COM	90041L105	2,189	41,959	SH		SOLE		31,648	0	10,311
U S CONCRETE INC	COM	90333L201	2,522	34,395	SH		SOLE		34,395	0	0
ULTRA CLEAN HLDGS INC	COM	90385V107	5,725	98,640	SH		SOLE		77,109	0	21,531
UNITED STS LIME & MINERALS I	COM	911922102	999	7,473	SH		SOLE		7,473	0	0
UNIVEST FINANCIAL CORPORATIO	COM	915271100	1,969	68,860	SH		SOLE		68,860	0	0
UPLAND SOFTWARE INC	COM	91544A109	7,155	151,622	SH		SOLE		121,942	0	29,680
VENATOR MATLS PLC	SHS	G9329Z100	5,730	1,237,630	SH		SOLE		991,780	0	245,850
VIA OPTRONICS AG	SPONSORED ADS	91823Y109	3,264	252,669	SH		SOLE		198,654	0	54,015
VILLAGE FARMS INTL INC	COM	92707Y108	13,437	1,015,668	SH		SOLE		814,188	0	201,480
VISHAY INTERTECHNOLOGY INC	COM	928298108	6,870	285,295	SH		SOLE		221,204	0	64,091
WILEY JOHN & SONS INC	CL A	968223206	5,182	95,615	SH		SOLE		74,140	0	21,475
ZUMIEZ INC	COM	989817101	1,357	31,635	SH		SOLE		31,635	0	0

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