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
1ST CONSTITUTION BANCORP COM 31986N102 3,714 198,101 SH   SOLE   198,101 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 7,628 237,708 SH   SOLE   237,708 0 0
AXOS FINL INC COM 05465C100 8,234 297,797 SH   SOLE   297,797 0 0
BANK AMER CORP COM 060505104 9,582 328,489 SH   SOLE   328,489 0 0
BANK OZK COM 06417N103 5,408 198,300 SH   SOLE   198,300 0 0
BANNER CORP COM NEW 06652V208 8,828 157,170 SH   SOLE   157,170 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 1,714 143,583 SH   SOLE   143,583 0 0
CAMBRIDGE BANCORP COM 132152109 6,434 85,771 SH   SOLE   85,771 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 4,974 300,000 SH   SOLE   300,000 0 0
CAROLINA FINL CORP NEW COM 143873107 5,467 153,829 SH   SOLE   153,829 0 0
CITIGROUP INC COM NEW 172967424 20,330 294,300 SH   SOLE   294,300 0 0
CITIZENS FINL GROUP INC COM 174610105 21,128 597,336 SH   SOLE   597,336 0 0
COMMUNITY BANKERS TR CORP COM 203612106 6,873 799,206 SH   SOLE   799,206 0 0
COMMUNITY WEST BANCSHARES COM 204157101 4,474 452,360 SH   SOLE   452,360 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 4,518 203,511 SH   SOLE   203,511 0 0
EAGLE BANCORP INC MD COM 268948106 7,990 179,073 SH   SOLE   179,073 0 0
EAST WEST BANCORP INC COM 27579R104 10,746 242,635 SH   SOLE   242,635 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 9,107 68,600 SH   SOLE   68,600 0 0
FIFTH THIRD BANCORP COM 316773100 20,574 751,410 SH   SOLE   751,410 0 0
FIRST BANCORP P R COM NEW 318672706 7,999 801,486 SH   SOLE   801,486 0 0
FIRST BANCSHARES INC MS COM 318916103 15,410 477,097 SH   SOLE   477,097 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 6,393 590,322 SH   SOLE   590,322 0 0
FIRST INTERNET BANCORP COM 320557101 16,686 779,339 SH   SOLE   779,339 0 0
FNB CORP PA COM 302520101 10,128 878,391 SH   SOLE   878,391 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 11,505 300,438 SH   SOLE   300,438 0 0
HERITAGE FINL CORP WASH COM 42722X106 8,130 301,568 SH   SOLE   301,568 0 0
INDEPENDENT BK GROUP INC COM 45384B106 8,078 153,547 SH   SOLE   153,547 0 0
INVESTAR HLDG CORP COM 46134L105 8,487 356,590 SH   SOLE   356,590 0 0
JEFFERIES FINL GROUP INC COM 47233W109 15,556 845,420 SH   SOLE   845,420 0 0
KEYCORP NEW COM 493267108 15,885 890,400 SH   SOLE   890,400 0 0
LAKELAND FINL CORP COM 511656100 5,762 131,007 SH   SOLE   131,007 0 0
MACKINAC FINL CORP COM 554571109 3,743 242,090 SH   SOLE   242,090 0 0
MASTERCARD INC CL A 57636Q104 10,944 40,300 SH   SOLE   40,300 0 0
OLD POINT FINL CORP COM 680194107 4,150 174,357 SH   SOLE   174,357 0 0
OLD SECOND BANCORP INC ILL COM 680277100 8,034 657,480 SH   SOLE   657,480 0 0
OP BANCORP COM 67109R109 5,667 579,483 SH   SOLE   579,483 0 0
OPUS BK IRVINE CALIF COM 684000102 8,634 396,579 SH   SOLE   396,579 0 0
ORIGIN BANCORP INC COM 68621T102 11,676 346,064 SH   SOLE   346,064 0 0
PACIFIC PREMIER BANCORP COM 69478X105 16,251 521,042 SH   SOLE   521,042 0 0
PACWEST BANCORP DEL COM 695263103 14,188 390,414 SH   SOLE   390,414 0 0
PAYPAL HLDGS INC COM 70450Y103 9,914 95,700 SH   SOLE   95,700 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 15,157 289,372 SH   SOLE   289,372 0 0
REGIONS FINL CORP NEW COM 7591EP100 15,818 999,900 SH   SOLE   999,900 0 0
SB FINL GROUP INC COM 78408D105 4,504 269,460 SH   SOLE   269,460 0 0
SMARTFINANCIAL INC COM NEW 83190L208 1,609 77,247 SH   SOLE   77,247 0 0
SPECTRUM BRANDS HLDGS INC NE COM 84790A105 1,114 21,135 SH   SOLE   21,135 0 0
SVB FINL GROUP COM 78486Q101 12,869 61,588 SH   SOLE   61,588 0 0
SYNOVUS FINL CORP COM NEW 87161C501 13,813 386,263 SH   SOLE   386,263 0 0
TCF FINANCIAL CORPORATION NE COM 872307103 12,922 339,439 SH   SOLE   339,439 0 0
TFS FINL CORP COM 87240R107 19,263 1,068,982 SH   SOLE   1,068,982 0 0
VERITEX HLDGS INC COM 923451108 11,998 494,470 SH   SOLE   494,470 0 0
VISA INC COM CL A 92826C839 10,510 61,100 SH   SOLE   61,100 0 0
WESTERN ALLIANCE BANCORP COM 957638109 17,464 379,000 SH   SOLE   379,000 0 0
WSFS FINL CORP COM 929328102 5,757 130,546 SH   SOLE   130,546 0 0
ZIONS BANCORPORATION N A COM 989701107 16,367 367,629 SH   SOLE   367,629 0 0