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   952,800 15,000 SH   SOLE   15,000 0 0
ALGOMA STL GROUP INC COM 015658107   191,700 27,000 SH   SOLE   27,000 0 0
ALLY FINL INC COM 02005N100   558,702 20,685 SH   SOLE   13,652 7,033 0
ALPHABET INC CAP STK CL C 02079K107   241,940 2,000 SH   SOLE   2,000 0 0
AMERIS BANCORP COM 03076K108   2,326,656 68,011 SH   SOLE   64,337 3,674 0
ANTERO RESOURCES CORP COM 03674X106   230,300 10,000 SH   SOLE   10,000 0 0
APA CORPORATION COM 03743Q108   683,400 20,000 SH   SOLE   20,000 0 0
ASSURED GUARANTY LTD COM G0585R106   1,562,400 28,000 SH   SOLE   28,000 0 0
AVANTAX INC COM 095229100   760,920 34,000 SH   SOLE   34,000 0 0
AXOS FINANCIAL INC COM 05465C100   1,325,500 33,608 SH   SOLE   33,608 0 0
BANC OF CALIFORNIA INC COM 05990K106   4,283,778 369,929 SH   SOLE   343,878 26,051 0
BRIDGEWATER BANCSHARES INC COM 108621103   898,093 91,177 SH   SOLE   60,678 30,499 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103   1,062,542 50,718 SH   SOLE   50,718 0 0
BROADWAY FINL CORP DEL COM 111444105   1,229,621 1,267,651 SH   SOLE   1,267,651 0 0
CADENCE BANK COM 12740C103   1,641,413 83,575 SH   SOLE   83,575 0 0
CAPITAL ONE FINL CORP COM 14040H105   1,458,230 13,333 SH   SOLE   8,883 4,450 0
CITIGROUP INC COM NEW 172967424   230,200 5,000 SH   SOLE   5,000 0 0
CITIZENS FINL GROUP INC COM 174610105   1,946,637 74,641 SH   SOLE   66,556 8,085 0
CNB FINL CORP PA COM 126128107   2,350,098 133,150 SH   SOLE   133,150 0 0
COASTAL FINL CORP WA COM NEW 19046P209   6,476,854 172,028 SH   SOLE   156,107 15,921 0
COLUMBIA BKG SYS INC COM 197236102   4,844,831 238,897 SH   SOLE   227,233 11,664 0
COMERICA INC COM 200340107   2,998,283 70,781 SH   SOLE   64,625 6,156 0
CONNECTONE BANCORP INC COM 20786W107   584,366 35,224 SH   SOLE   23,369 11,855 0
CUMULUS MEDIA INC COM CL A 231082801   276,750 67,500 SH   SOLE   67,500 0 0
CUSTOMERS BANCORP INC COM 23204G100   1,155,932 38,200 SH   SOLE   38,200 0 0
DELTA AIR LINES INC DEL COM NEW 247361702   237,700 5,000 SH   SOLE   5,000 0 0
DESIGNER BRANDS INC CL A 250565108   349,460 34,600 SH   SOLE   34,600 0 0
DEVON ENERGY CORP NEW COM 25179M103   725,100 15,000 SH   SOLE   15,000 0 0
DIAMONDBACK ENERGY INC COM 25278X109   328,400 2,500 SH   SOLE   2,500 0 0
EAST WEST BANCORP INC COM 27579R104   5,156,105 97,672 SH   SOLE   92,952 4,720 0
EASTERN BANKSHARES INC COM 27627N105   397,401 32,388 SH   SOLE   21,545 10,843 0
ENCORE CAP GROUP INC COM 292554102   1,226,196 25,220 SH   SOLE   25,220 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   762,000 60,000 SH   SOLE   60,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105   3,360,801 85,954 SH   SOLE   80,177 5,777 0
EQUITABLE HLDGS INC COM 29452E101   1,507,380 55,500 SH   SOLE   55,500 0 0
EQUITY BANCSHARES INC COM CL A 29460X109   515,944 22,649 SH   SOLE   15,090 7,559 0
FIDELIS INSURANCE HOLDINGS L COM G3398L118   307,125 22,500 SH   SOLE   22,500 0 0
FIFTH THIRD BANCORP COM 316773100   750,287 28,626 SH   SOLE   19,024 9,602 0
FIRST BANCSHARES INC MS COM 318916103   3,899,850 150,923 SH   SOLE   134,723 16,200 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   6,102,805 4,755 SH   SOLE   4,255 500 0
FIRST MERCHANTS CORP COM 320817109   2,763,124 97,879 SH   SOLE   90,021 7,858 0
FIRST UTD CORP COM 33741H107   3,484,745 244,372 SH   SOLE   244,372 0 0
GENWORTH FINL INC COM CL A 37247D106   1,950,000 390,000 SH   SOLE   390,000 0 0
HANCOCK WHITNEY CORPORATION COM 410120109   3,577,400 93,210 SH   SOLE   84,837 8,373 0
HERITAGE FINL CORP WASH COM 42722X106   801,369 49,559 SH   SOLE   32,812 16,747 0
HILLTOP HOLDINGS INC COM 432748101   736,164 23,400 SH   SOLE   23,400 0 0
INTERDIGITAL INC COM 45867G101   627,575 6,500 SH   SOLE   6,500 0 0
JACKSON FINANCIAL INC COM CL A 46817M107   40,455,400 1,321,640 SH   SOLE   1,321,640 0 0
KEYCORP COM 493267108   231,000 25,000 SH   SOLE   25,000 0 0
LINKBANCORP INC COM 53578P105   3,672,972 612,162 SH   SOLE   612,162 0 0
M & T BK CORP COM 55261F104   618,552 4,998 SH   SOLE   3,315 1,683 0
MERCHANTS BANCORP IND COM 58844R108   1,736,524 67,886 SH   SOLE   62,984 4,902 0
METROPOLITAN BK HLDG CORP COM 591774104   7,506,195 216,130 SH   SOLE   201,167 14,963 0
NATIONAL BK HLDGS CORP CL A 633707104   1,048,083 36,091 SH   SOLE   30,712 5,379 0
NEW YORK CMNTY BANCORP INC COM 649445103   4,089,550 363,839 SH   SOLE   335,753 28,086 0
NEXPOINT DIVERSIFIED REL ET COM NEW 65340G205   3,080,433 246,041 SH   SOLE   246,041 0 0
OCEANFIRST FINL CORP COM 675234108   821,737 52,608 SH   SOLE   34,936 17,672 0
OLD NATL BANCORP IND COM 680033107   2,894,850 207,665 SH   SOLE   184,482 23,183 0
OLD SECOND BANCORP INC ILL COM 680277100   4,247,151 325,203 SH   SOLE   300,489 24,714 0
OPPENHEIMER HLDGS INC CL A NON VTG 683797104   964,320 24,000 SH   SOLE   24,000 0 0
ORIGIN BANCORP INC COM 68621T102   943,108 32,188 SH   SOLE   21,394 10,794 0
PAGAYA TECHNOLOGIES LTD *W EXP 09/01/202 M7S64L107   1,369,167 5,166,667 SH   SOLE   5,166,667 0 0
PAGAYA TECHNOLOGIES LTD CL A SHS M7S64L115   21,996,577 15,711,841 SH   SOLE   15,711,841 0 0
PCB BANCORP COM 69320M109   1,045,131 71,049 SH   SOLE   60,748 10,301 0
PEABODY ENERGY CORP COM 704551100   758,100 35,000 SH   SOLE   35,000 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107   477,556 17,635 SH   SOLE   11,767 5,868 0
PEOPLES BANCORP INC COM 709789101   986,439 37,154 SH   SOLE   24,707 12,447 0
PINNACLE FINL PARTNERS INC COM 72346Q104   3,521,761 62,167 SH   SOLE   57,692 4,475 0
POPULAR INC COM NEW 733174700   1,127,730 18,634 SH   SOLE   12,402 6,232 0
PREMIER FINANCIAL CORP COM 74052F108   642,402 40,100 SH   SOLE   26,740 13,360 0
PRIMIS FINANCIAL CORP COM 74167B109   1,810,603 215,036 SH   SOLE   194,109 20,927 0
PROLOGIS INC. COM 74340W103   245,260 2,000 SH   SOLE   2,000 0 0
QCR HOLDINGS INC COM 74727A104   550,541 13,418 SH   SOLE   8,929 4,489 0
RED ROCK RESORTS INC CL A 75700L108   666,849 14,255 SH   SOLE   14,255 0 0
RHINEBECK BANCORP INC COM 762093102   2,573,606 382,408 SH   SOLE   382,408 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605   1,641,677 48,700 SH Put SOLE   48,700 0 0
SIMON PPTY GROUP INC NEW COM 828806109   577,400 5,000 SH   SOLE   5,000 0 0
SLM CORP COM 78442P106   1,630,270 99,894 SH   SOLE   99,894 0 0
SNOWFLAKE INC CL A 833445109   351,960 2,000 SH   SOLE   2,000 0 0
SOUTHERN CALIF BANCORP COM 84252A106   1,559,251 113,648 SH   SOLE   113,648 0 0
SOUTHERN FIRST BANCSHARES COM 842873101   577,690 23,341 SH   SOLE   15,488 7,853 0
SPDR SER TR S&P REGL BKG 78464A698   658,343 16,124 SH   SOLE   16,124 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107   950,238 20,005 SH   SOLE   20,005 0 0
STELLAR BANCORP INC COM 858927106   765,396 33,438 SH   SOLE   22,230 11,208 0
SURO CAPITAL CORP COM NEW 86887Q109   95,850 30,000 SH   SOLE   30,000 0 0
SYNOVUS FINL CORP COM NEW 87161C501   3,513,356 116,144 SH   SOLE   103,879 12,265 0
THE ODP CORP COM 88337F105   702,300 15,000 SH   SOLE   15,000 0 0
TRINET GROUP INC COM 896288107   522,335 5,500 SH   SOLE   5,500 0 0
TRINITY CAP INC COM 896442308   358,020 27,000 SH   SOLE   27,000 0 0
TRIUMPH FINANCIAL INC COM 89679E300   379,500 6,250 SH   SOLE   6,250 0 0
UMB FINL CORP COM 902788108   4,068,242 66,802 SH   SOLE   62,453 4,349 0
UNITED SEC BANCSHARES CALIF COM 911460103   611,028 91,746 SH   SOLE   91,746 0 0
VALLEY NATL BANCORP COM 919794107   1,748,013 225,550 SH   SOLE   203,527 22,023 0
WEBSTER FINL CORP COM 947890109   3,005,693 79,621 SH   SOLE   72,182 7,439 0
WEST FRASER TIMBER CO LTD COM 952845105   429,900 5,000 SH   SOLE   5,000 0 0
WESTERN ALLIANCE BANCORP COM 957638109   1,553,622 42,600 SH   SOLE   42,600 0 0
WINTRUST FINL CORP COM 97650W108   3,479,079 47,908 SH   SOLE   41,662 6,246 0