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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AERCAP HOLDINGS NV SHS N00985106   5,115,012 80,526 SH   SOLE   80,526 0 0
ALERUS FINL CORP COM 01446U103   1,083,115 60,240 SH   SOLE   60,240 0 0
ALLSTATE CORP COM 020002101   11,307,230 103,698 SH   SOLE   103,698 0 0
AMALGAMATED FINANCIAL CORP COM 022671101   1,461,326 90,822 SH   SOLE   90,822 0 0
AMERIPRISE FINL INC COM 03076C106   24,029,119 72,342 SH   SOLE   72,342 0 0
AMERIS BANCORP COM 03076K108   2,794,581 81,689 SH   SOLE   81,689 0 0
APOLLO GLOBAL MGMT INC COM 03769M106   25,399,531 330,680 SH   SOLE   330,680 0 0
AXOS FINANCIAL INC COM 05465C100   21,406,533 542,762 SH   SOLE   542,762 0 0
BANCORP INC DEL COM 05969A105   5,756,652 176,314 SH   SOLE   176,314 0 0
BANK AMERICA CORP COM 060505104   38,121,838 1,328,750 SH   SOLE   1,328,750 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107   3,063,770 147,794 SH   SOLE   147,794 0 0
BLACKROCK INC COM 09247X101   26,502,454 38,346 SH   SOLE   38,346 0 0
BLACKSTONE INC COM 09260D107   15,675,114 168,604 SH   SOLE   168,604 0 0
BLUE OWL CAPITAL INC COM CL A 09581B103   4,675,937 401,368 SH   SOLE   401,368 0 0
BURFORD CAP LTD ORD SHS G17977110   7,415,087 608,792 SH   SOLE   608,792 0 0
CAMDEN NATL CORP COM 133034108   7,671,238 247,699 SH   SOLE   247,699 0 0
CAPITAL ONE FINL CORP COM 14040H105   30,404,751 277,999 SH   SOLE   277,999 0 0
CATALYST BANCORP INC COMMON STOCK 14888L101   124,043 11,246 SH   SOLE   11,246 0 0
CENTURY CMNTYS INC COM 156504300   27,229,139 355,379 SH   SOLE   355,379 0 0
CITIGROUP INC COM NEW 172967424   917,117 19,920 SH   SOLE   19,920 0 0
COLUMBIA BKG SYS INC COM 197236102   7,002,339 345,283 SH   SOLE   345,283 0 0
COMERICA INC COM 200340107   25,738,360 607,610 SH   SOLE   607,610 0 0
DIME CMNTY BANCSHARES INC COM 25432X102   35,794,768 2,030,333 SH   SOLE   2,030,333 0 0
EAGLE BANCORP INC MD COM 268948106   973,614 46,012 SH   SOLE   46,012 0 0
EAST WEST BANCORP INC COM 27579R104   20,536,735 389,027 SH   SOLE   389,027 0 0
ESQUIRE FINL HLDGS INC COM 29667J101   26,597,627 581,496 SH   SOLE   581,496 0 0
EVERCORE INC CLASS A 29977A105   18,251,277 147,676 SH   SOLE   147,676 0 0
F&G ANNUITIES & LIFE INC COMMON STOCK 30190A104   17,264,722 696,720 SH   SOLE   696,720 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303   12,030,588 334,183 SH   SOLE   334,183 0 0
FIFTH THIRD BANCORP COM 316773100   2,453,439 93,607 SH   SOLE   93,607 0 0
FINWISE BANCORP COM 31813A109   3,941,150 440,352 SH   SOLE   440,352 0 0
FIRST AMERN FINL CORP COM 31847R102   5,904,478 103,551 SH   SOLE   103,551 0 0
FIRST BANCORP N C COM 318910106   3,667,164 123,266 SH   SOLE   123,266 0 0
FIRST BUSEY CORP COM NEW 319383204   12,859,739 639,788 SH   SOLE   639,788 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   29,946,739 23,333 SH   SOLE   23,333 0 0
FIRST INTST BANCSYSTEM INC COM 32055Y201   4,744,637 199,020 SH   SOLE   199,020 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100   506,130 920,236 SH   SOLE   920,236 0 0
FIRST UTD CORP COM 33741H107   3,290,909 230,779 SH   SOLE   230,779 0 0
F N B CORP COM 302520101   24,787,734 2,166,760 SH   SOLE   2,166,760 0 0
GUILD HLDGS CO CL A 40172N107   7,689,777 676,917 SH   SOLE   676,917 0 0
HANCOCK WHITNEY CORPORATION COM 410120109   9,301,355 242,349 SH   SOLE   242,349 0 0
HERITAGE FINL CORP WASH COM 42722X106   3,731,017 230,737 SH   SOLE   230,737 0 0
HOME BANCSHARES INC COM 436893200   3,797,066 166,538 SH   SOLE   166,538 0 0
ISHARES TR 20 YR TR BD ETF 464287432   9,890,784 96,083 SH   SOLE   96,083 0 0
JPMORGAN CHASE & CO COM 46625H100   68,283,498 469,496 SH   SOLE   469,496 0 0
KB HOME COM 48666K109   7,170,212 138,662 SH   SOLE   138,662 0 0
KEYCORP COM 493267108   2,421 262 SH   SOLE   262 0 0
KKR & CO INC COM 48251W104   13,443,528 240,063 SH   SOLE   240,063 0 0
LAKELAND BANCORP INC COM 511637100   3,771,709 281,681 SH   SOLE   281,681 0 0
LAZARD LTD SHS A G54050102   6,412,896 200,403 SH   SOLE   200,403 0 0
LENDINGCLUB CORP COM NEW 52603A208   16,957,093 1,739,189 SH   SOLE   1,739,189 0 0
LENNAR CORP CL A 526057104   50,867,464 405,933 SH   SOLE   405,933 0 0
M & T BK CORP COM 55261F104   1,653,434 13,360 SH   SOLE   13,360 0 0
M/I HOMES INC COM 55305B101   23,497,182 269,494 SH   SOLE   269,494 0 0
MACATAWA BK CORP COM 554225102   3,135,851 337,915 SH   SOLE   337,915 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107   592,891 1,238 SH Put SOLE   1,238 0 0
MERCHANTS BANCORP IND COM 58844R108   19,736,863 771,574 SH   SOLE   771,574 0 0
MERITAGE HOMES CORP COM 59001A102   3,396,269 23,872 SH   SOLE   23,872 0 0
METROPOLITAN BK HLDG CORP COM 591774104   1,694,338 48,786 SH   SOLE   48,786 0 0
MORGAN STANLEY COM NEW 617446448   31,534,719 369,259 SH   SOLE   369,259 0 0
MR COOPER GROUP INC COM 62482R107   10,376,693 204,911 SH   SOLE   204,911 0 0
NEW YORK CMNTY BANCORP INC COM 649445103   16,588,768 1,475,869 SH   SOLE   1,475,869 0 0
NORTHEAST BK LEWISTON ME COM 66405S100   15,667,545 375,991 SH   SOLE   375,991 0 0
OLD NATL BANCORP IND COM 680033107   7,132,499 511,657 SH   SOLE   511,657 0 0
ONEMAIN HLDGS INC COM 68268W103   44,780,765 1,024,966 SH   SOLE   1,024,966 0 0
PACWEST BANCORP DEL COM 695263103   7,711,530 946,200 SH   SOLE   946,200 0 0
PARKE BANCORP INC COM 700885106   4,594,929 270,449 SH   SOLE   270,449 0 0
PATHFINDER BANCORP INC MD COM 70319R109   785,710 54,318 SH   SOLE   54,318 0 0
PCB BANCORP COM 69320M109   541,151 36,788 SH   SOLE   36,788 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107   36,282,983 516,043 SH   SOLE   516,043 0 0
PJT PARTNERS INC COM CL A 69343T107   7,226,821 103,774 SH   SOLE   103,774 0 0
POPULAR INC COM NEW 733174700   21,017,022 347,274 SH   SOLE   347,274 0 0
PROGRESSIVE CORP COM 743315103   3,225,460 24,367 SH   SOLE   24,367 0 0
PULTE GROUP INC COM 745867101   7,343,556 94,536 SH   SOLE   94,536 0 0
QUINSTREET INC COM 74874Q100   6,417,538 726,788 SH   SOLE   726,788 0 0
RAYMOND JAMES FINL INC COM 754730109   10,742,167 103,519 SH   SOLE   103,519 0 0
REGIONAL MGMT CORP COM 75902K106   28,010,834 918,388 SH   SOLE   918,388 0 0
SANDY SPRING BANCORP INC COM 800363103   469,635 20,707 SH   SOLE   20,707 0 0
SCHWAB CHARLES CORP COM 808513105   35,910,521 633,566 SH   SOLE   633,566 0 0
SL GREEN RLTY CORP COM 78440X887   2,160,775 71,906 SH   SOLE   71,906 0 0
SOUTHSTATE CORPORATION COM 840441109   3,483,715 52,944 SH   SOLE   52,944 0 0
STELLAR BANCORP INC COM 858927106   5,666,442 247,551 SH   SOLE   247,551 0 0
SYNCHRONY FINANCIAL COM 87165B103   10,316,361 304,138 SH   SOLE   304,138 0 0
SYNOVUS FINL CORP COM NEW 87161C501   22,882,613 756,450 SH   SOLE   756,450 0 0
TAYLOR MORRISON HOME CORP COM 87724P106   12,105,543 248,217 SH   SOLE   248,217 0 0
TEXAS CAP BANCSHARES INC COM 88224Q107   25,543,485 495,990 SH   SOLE   495,990 0 0
ISHARES TR 20 YR TR BD ETF 464287432   417,506 4,078 SH Call SOLE   4,078 0 0
TOLL BROTHERS INC COM 889478103   12,282,971 155,343 SH   SOLE   155,343 0 0
TRICO BANCSHARES COM 896095106   4,580,969 137,981 SH   SOLE   137,981 0 0
UNITED BANKSHARES INC WEST V COM 909907107   6,914,119 233,034 SH   SOLE   233,034 0 0
UPSTART HLDGS INC COM 91680M107   3,179,713 88,794 SH   SOLE   88,794 0 0
US BANCORP DEL COM NEW 902973304   38,064,162 1,152,063 SH   SOLE   1,152,063 0 0
UWM HOLDINGS CORPORATION COM CL A 91823B109   1,901,704 339,590 SH   SOLE   339,590 0 0
VICTORY CAP HLDGS INC COM CL A 92645B103   5,827,488 184,765 SH   SOLE   184,765 0 0
VORNADO RLTY TR SH BEN INT 929042109   6,604,720 364,097 SH   SOLE   364,097 0 0
VOYA FINANCIAL INC COM 929089100   16,400,507 228,706 SH   SOLE   228,706 0 0
WEBSTER FINL CORP COM 947890109   51,696,738 1,369,450 SH   SOLE   1,369,450 0 0
WELLS FARGO CO NEW COM 949746101   33,975,286 796,047 SH   SOLE   796,047 0 0
WESBANCO INC COM 950810101   1,507,379 58,859 SH   SOLE   58,859 0 0
WESTERN ALLIANCE BANCORP COM 957638109   22,645,208 620,927 SH   SOLE   620,927 0 0
WORLD ACCEP CORPORATION COM 981419104   1,531,734 11,430 SH   SOLE   11,430 0 0