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
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
ALLEGIANCE BANCSHARES INC COM 01748H107 10,038 240,708 SH   SOLE   240,708 0 0
AMERIS BANCORP COM 03076K108 5,829 127,540 SH   SOLE   127,540 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 5,437 324,600 SH   SOLE   324,600 0 0
AXOS FINL INC COM 05465C100 11,565 336,297 SH   SOLE   336,297 0 0
BANK AMER CORP COM 060505104 15,696 532,800 SH   SOLE   532,800 0 0
BANNER CORP COM NEW 06652V208 11,587 186,370 SH   SOLE   186,370 0 0
BOK FINL CORP COM NEW 05561Q201 18,804 193,300 SH   SOLE   193,300 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 2,663 100,300 SH   SOLE   100,300 0 0
CAMBRIDGE BANCORP COM 132152109 7,818 86,871 SH   SOLE   86,871 0 0
CAROLINA FINL CORP NEW COM 143873107 5,874 155,729 SH   SOLE   155,729 0 0
CBTX INC COM 12481V104 7,589 213,525 SH   SOLE   213,525 0 0
CITIGROUP INC COM NEW 172967424 25,166 350,800 SH   SOLE   350,800 0 0
COMERICA INC COM 200340107 3,843 42,600 SH   SOLE   42,600 0 0
COMMUNITY BANKERS TR CORP COM 203612106 7,122 809,306 SH   SOLE   809,306 0 0
COMMUNITY WEST BANCSHARES COM 204157101 6,106 508,835 SH   SOLE   508,835 0 0
CONDOR HOSPITALITY TR INC COM NEW 20676Y403 2,909 272,092 SH   SOLE   272,092 0 0
EAST WEST BANCORP INC COM 27579R104 2,258 37,409 SH   SOLE   37,409 0 0
FB FINL CORP COM 30257X104 12,737 325,100 SH   SOLE   325,100 0 0
FIRST BANCORP N C COM 318910106 13,708 338,379 SH   SOLE   338,379 0 0
FIRST BANCORP P R COM NEW 318672706 16,588 1,822,873 SH   SOLE   1,822,873 0 0
FIRST BANCSHARES INC MS COM 318916103 22,658 580,233 SH   SOLE   580,233 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 7,861 597,822 SH   SOLE   597,822 0 0
FIRST FINL BANCORP OH COM 320209109 3,001 101,028 SH   SOLE   101,028 0 0
FIRST INTERNET BANCORP COM 320557101 25,050 822,676 SH   SOLE   822,676 0 0
FNB CORP PA COM 302520101 11,316 889,591 SH   SOLE   889,591 0 0
GREAT WESTN BANCORP INC COM 391416104 7,189 170,400 SH   SOLE   170,400 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 6,903 232,417 SH   SOLE   232,417 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 13,326 280,243 SH   SOLE   280,243 0 0
HERITAGE COMMERCE CORP COM 426927109 4,900 328,393 SH   SOLE   328,393 0 0
HERITAGE FINL CORP WASH COM 42722X106 16,449 467,972 SH   SOLE   467,972 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 5,471 231,320 SH   SOLE   231,320 0 0
INVESTAR HLDG CORP COM 46134L105 9,695 361,090 SH   SOLE   361,090 0 0
JEFFERIES FINL GROUP INC COM 47233W109 30,994 1,411,400 SH   SOLE   1,411,400 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 6,997 164,252 SH   SOLE   164,252 0 0
MACKINAC FINL CORP COM 554571109 3,248 200,500 SH   SOLE   200,500 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 3,322 70,525 SH   SOLE   70,525 0 0
OLD POINT FINL CORP COM 680194107 5,282 176,657 SH   SOLE   176,657 0 0
OLD SECOND BANCORP INC ILL COM 680277100 10,676 690,980 SH   SOLE   690,980 0 0
OP BANCORP COM 67109R109 8,534 735,684 SH   SOLE   735,684 0 0
OPUS BK IRVINE CALIF COM 684000102 15,661 571,578 SH   SOLE   571,578 0 0
PACIFIC PREMIER BANCORP COM 69478X105 16,769 450,783 SH   SOLE   450,783 0 0
PACWEST BANCORP DEL COM 695263103 13,743 288,414 SH   SOLE   288,414 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 17,145 293,072 SH   SOLE   293,072 0 0
PROVIDENT BANCORP INC COM 74383X109 2,096 72,411 SH   SOLE   72,411 0 0
QCR HOLDINGS INC COM 74727A104 7,364 180,276 SH   SOLE   180,276 0 0
REGIONS FINL CORP NEW COM 7591EP100 7,079 385,800 SH   SOLE   385,800 0 0
RELIANT BANCORP INC COM 75956B101 5,991 234,300 SH   SOLE   234,300 0 0
SANDY SPRING BANCORP INC COM 800363103 14,753 375,291 SH   SOLE   375,291 0 0
SB FINL GROUP INC COM 78408D105 3,118 153,211 SH   SOLE   153,211 0 0
SELECT BANCORP INC NEW COM 81617L108 3,353 270,400 SH   SOLE   270,400 0 0
SMARTFINANCIAL INC COM NEW 83190L208 5,654 240,089 SH   SOLE   240,089 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 7,662 472,933 SH   SOLE   472,933 0 0
SVB FINL GROUP COM 78486Q101 16,439 52,888 SH   SOLE   52,888 0 0
SYNOVUS FINL CORP COM NEW 87161C501 12,005 262,171 SH   SOLE   262,171 0 0
TFS FINL CORP COM 87240R107 23,206 1,546,021 SH   SOLE   1,546,021 0 0
TRICO BANCSHARES COM 896095106 9,732 252,005 SH   SOLE   252,005 0 0
TRIUMPH BANCORP INC COM 89679E300 9,676 253,300 SH   SOLE   253,300 0 0
VERITEX HLDGS INC COM 923451108 7,871 278,511 SH   SOLE   278,511 0 0
WELLS FARGO CO NEW COM 949746101 17,750 337,700 SH   SOLE   337,700 0 0
WINTRUST FINL CORP COM 97650W108 6,229 73,337 SH   SOLE   73,337 0 0
ZIONS BANCORPORATION COM 989701107 20,413 407,034 SH   SOLE   407,034 0 0