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
ALLIANCE DATA SYSTEMS CORP COM 018581108 8,328 65,000 SH   SOLE   65,000 0 0
AMERIPRISE FINL INC COM 03076C106 4,021 27,334 SH   SOLE   27,334 0 0
ARCH CAP GROUP LTD ORD G0450A105 6,822 162,500 SH   SOLE   162,500 0 0
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101 4,491 167,500 SH   SOLE   167,500 0 0
ASSURANT INC COM 04621X108 5,033 40,000 SH   SOLE   40,000 0 0
ATHENE HLDG LTD CL A G0684D107 11,492 273,233 SH   SOLE   273,233 0 0
BANKUNITED INC COM 06652K103 3,026 90,000 SH   SOLE   90,000 0 0
BAYCOM CORP COM 07272M107 1,858 81,824 SH   SOLE   81,824 0 0
BERKLEY W R CORP COM 084423102 5,056 70,000 SH   SOLE   70,000 0 0
BROWN & BROWN INC COM 115236101 1,442 40,000 SH   SOLE   40,000 0 0
CADENCE BANCORPORATION CL A 12739A100 7,016 400,000 SH   SOLE   400,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 18,196 200,000 SH   SOLE   200,000 0 0
CARDTRONICS PLC SHS CL A G1991C105 5,292 175,000 SH   SOLE   175,000 0 0
CAROLINA TR BANCSHARES INC COM 14422P105 1,073 102,264 SH   SOLE   102,264 0 0
CB FINL SVCS INC COM 12479G101 278 10,000 SH   SOLE   10,000 0 0
CHUBB LIMITED COM H1467J104 3,229 20,000 SH   SOLE   20,000 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 1,443 130,393 SH   SOLE   130,393 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 5,199 234,187 SH   SOLE   234,187 0 0
COREPOINT LODGING INC COM 21872L104 6,776 670,211 SH   SOLE   670,211 0 0
CUSHMAN WAKEFIELD PLC SHS G2717B108 10,244 552,815 SH   SOLE   552,815 0 0
DXC TECHNOLOGY CO COM 23355L106 9,440 320,000 SH   SOLE   320,000 0 0
EAGLE BANCORP MONT INC COM 26942G100 2,455 140,313 SH   SOLE   140,313 0 0
EAST WEST BANCORP INC COM 27579R104 7,751 175,000 SH   SOLE   175,000 0 0
ENSTAR GROUP LIMITED SHS G3075P101 11,205 59,000 SH   SOLE   59,000 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 1,434 62,599 SH   SOLE   62,599 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 4,932 37,146 SH   SOLE   37,146 0 0
FIRST INTERNET BANCORP COM 320557101 83 3,896 SH   SOLE   3,896 0 0
FIRST NATL CORP COM 32106V107 1,103 59,040 SH   SOLE   59,040 0 0
FISERV INC COM 337738108 5,180 50,000 SH   SOLE   50,000 0 0
FS KKR CAPITAL CORP COM 302635107 10,786 1,850,000 SH   SOLE   1,850,000 0 0
GALLAGHER ARTHUR J & CO COM 363576109 1,605 17,915 SH   SOLE   17,915 0 0
GREEN DOT CORP CL A 39304D102 7,357 291,372 SH   SOLE   291,372 0 0
HEALTH INS INNOVATIONS INC COM CL A 42225K106 3,553 142,500 SH   SOLE   142,500 0 0
I3 VERTICALS INC COM CL A 46571Y107 3,675 182,661 SH   SOLE   182,661 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101 6,004 65,000 SH   SOLE   65,000 0 0
ISTAR INC COM 45031U101 13,702 1,050,000 SH   SOLE   1,050,000 0 0
MACKINAC FINL CORP COM 554571109 1,041 67,350 SH   SOLE   67,350 0 0
MAGYAR BANCORP INC COM 55977T109 235 20,000 SH   SOLE   20,000 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 776 36,842 SH   SOLE   36,842 0 0
MARCUS & MILLICHAP INC COM 566324109 3,319 93,508 SH   SOLE   93,508 0 0
MARKEL CORP COM 570535104 9,219 7,800 SH   SOLE   7,800 0 0
MEDLEY MGMT INC CL A COM 58503T106 32 9,066 SH   SOLE   9,066 0 0
MID PENN BANCORP INC COM 59540G107 978 38,163 SH   SOLE   38,163 0 0
MOELIS & CO CL A 60786M105 7,063 215,000 SH   SOLE   215,000 0 0
NAVIENT CORPORATION COM 63938C108 2,179 170,201 SH   SOLE   170,201 0 0
NCR CORP NEW COM 62886E108 8,167 258,772 SH   SOLE   258,772 0 0
NET 1 UEPS TECHNOLOGIES INC COM NEW 64107N206 696 195,000 SH   SOLE   195,000 0 0
OHA INVT CORP COM 67091U102 721 554,525 SH   SOLE   554,525 0 0
OLD POINT FINL CORP COM 680194107 116 4,856 SH   SOLE   4,856 0 0
OLD REP INTL CORP COM 680223104 7,560 320,739 SH   SOLE   320,739 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 843 112,228 SH   SOLE   112,228 0 0
PALOMAR HLDGS INC COM 69753M105 1,971 50,000 SH   SOLE   50,000 0 0
PEOPLES BANCORP N C INC COM 710577107 466 15,669 SH   SOLE   15,669 0 0
PRIORITY TECHNOLOGY HLDGS IN COM 74275G107 1,039 215,469 SH   SOLE   215,469 0 0
PROASSURANCE CORP COM 74267C106 2,819 70,000 SH   SOLE   70,000 0 0
RE MAX HLDGS INC CL A 75524W108 8,362 260,000 SH   SOLE   260,000 0 0
REALPAGE INC COM 75606N109 7,858 125,000 SH   SOLE   125,000 0 0
REPAY HLDGS CORP COM CL A 76029L100 7,665 575,000 SH   SOLE   575,000 0 0
RIVERVIEW FINL CORP NEW COM 76940Q105 848 72,564 SH   SOLE   72,564 0 0
SAFEHOLD INC COM 78645L100 3,812 125,000 SH   SOLE   125,000 0 0
SALISBURY BANCORP INC COM 795226109 400 10,000 SH   SOLE   10,000 0 0
SELECTIVE INS GROUP INC COM 816300107 5,113 68,000 SH   SOLE   68,000 0 0
SVB FINL GROUP COM 78486Q101 9,295 44,483 SH   SOLE   44,483 0 0
SYNOVUS FINL CORP COM NEW 87161C501 13,446 376,000 SH   SOLE   376,000 0 0
TCF FINANCIAL CORPORATION NE COM 872307103 14,276 374,998 SH   SOLE   374,998 0 0
VICI PPTYS INC COM 925652109 5,662 250,000 SH   SOLE   250,000 0 0
VOYA FINL INC COM 929089100 5,716 105,000 SH   SOLE   105,000 0 0
WALKER & DUNLOP INC COM 93148P102 8,163 145,946 SH   SOLE   145,946 0 0
WESTERN ALLIANCE BANCORP COM 957638109 8,257 179,188 SH   SOLE   179,188 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 6,754 35,000 SH   SOLE   35,000 0 0
WINTRUST FINL CORP COM 97650W108 8,079 125,000 SH   SOLE   125,000 0 0
ZIONS BANCORPORATION N A COM 989701107 4,452 100,000 SH   SOLE   100,000 0 0