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 4,386 198,201 SH   SOLE   198,201 0 0
AXOS FINL INC COM 05465C100 9,023 297,997 SH   SOLE   297,997 0 0
BANK AMER CORP COM 060505104 11,576 328,689 SH   SOLE   328,689 0 0
BANK OZK COM 06417N103 6,052 198,400 SH   SOLE   198,400 0 0
CADENCE BANCORPORATION CL A 12739A100 12,145 669,900 SH   SOLE   669,900 0 0
CAMBRIDGE BANCORP COM 132152109 9,287 115,871 SH   SOLE   115,871 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 4,998 300,200 SH   SOLE   300,200 0 0
CAROLINA FINL CORP NEW COM 143873107 6,650 153,829 SH   SOLE   153,829 0 0
CITIGROUP INC COM NEW 172967424 23,528 294,500 SH   SOLE   294,500 0 0
CITIZENS FINL GROUP INC COM 174610105 19,397 477,636 SH   SOLE   477,636 0 0
COMMUNITY BANKERS TR CORP COM 203612106 7,101 799,606 SH   SOLE   799,606 0 0
COMMUNITY WEST BANCSHARES COM 204157101 4,576 412,288 SH   SOLE   412,288 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 5,237 203,611 SH   SOLE   203,611 0 0
EAGLE BANCORP INC MD COM 268948106 8,596 176,773 SH   SOLE   176,773 0 0
EAST WEST BANCORP INC COM 27579R104 20,751 426,096 SH   SOLE   426,096 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 9,555 68,700 SH   SOLE   68,700 0 0
FIFTH THIRD BANCORP COM 316773100 23,114 751,910 SH   SOLE   751,910 0 0
FIRST BANCORP P R COM NEW 318672706 8,492 801,921 SH   SOLE   801,921 0 0
FIRST BANCSHARES INC MS COM 318916103 16,446 462,998 SH   SOLE   462,998 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 6,526 590,622 SH   SOLE   590,622 0 0
FIRST INTERNET BANCORP COM 320557101 19,281 813,183 SH   SOLE   813,183 0 0
FNB CORP PA COM 302520101 11,162 878,891 SH   SOLE   878,891 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 12,851 292,868 SH   SOLE   292,868 0 0
HERITAGE FINL CORP WASH COM 42722X106 8,537 301,668 SH   SOLE   301,668 0 0
INDEPENDENT BK GROUP INC COM 45384B106 8,019 144,647 SH   SOLE   144,647 0 0
INVESTAR HLDG CORP COM 46134L105 12,163 506,790 SH   SOLE   506,790 0 0
JEFFERIES FINL GROUP INC COM 47233W109 10,514 491,975 SH   SOLE   491,975 0 0
KEYCORP NEW COM 493267108 23,090 1,140,800 SH   SOLE   1,140,800 0 0
LAKELAND FINL CORP COM 511656100 6,415 131,107 SH   SOLE   131,107 0 0
MACKINAC FINL CORP COM 554571109 4,229 242,190 SH   SOLE   242,190 0 0
MASTERCARD INC CL A 57636Q104 12,033 40,300 SH   SOLE   40,300 0 0
OLD POINT FINL CORP COM 680194107 4,796 174,457 SH   SOLE   174,457 0 0
OLD SECOND BANCORP INC ILL COM 680277100 8,862 657,880 SH   SOLE   657,880 0 0
OP BANCORP COM 67109R109 6,013 579,883 SH   SOLE   579,883 0 0
OPUS BK IRVINE CALIF COM 684000102 10,523 406,779 SH   SOLE   406,779 0 0
ORIGIN BANCORP INC COM 68621T102 10,772 284,682 SH   SOLE   284,682 0 0
PACIFIC PREMIER BANCORP COM 69478X105 13,901 426,342 SH   SOLE   426,342 0 0
PACWEST BANCORP DEL COM 695263103 14,852 388,090 SH   SOLE   388,090 0 0
PAYPAL HLDGS INC COM 70450Y103 16,312 150,800 SH   SOLE   150,800 0 0
POPULAR INC COM NEW 733174700 2,938 50,000 SH   SOLE   50,000 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 17,400 289,572 SH   SOLE   289,572 0 0
REGIONS FINL CORP NEW COM 7591EP100 13,735 800,382 SH   SOLE   800,382 0 0
SB FINL GROUP INC COM 78408D105 5,310 269,660 SH   SOLE   269,660 0 0
SVB FINL GROUP COM 78486Q101 17,620 70,188 SH   SOLE   70,188 0 0
SYNOVUS FINL CORP COM NEW 87161C501 15,149 386,463 SH   SOLE   386,463 0 0
TCF FINANCIAL CORPORATION NE COM 872307103 21,076 450,343 SH   SOLE   450,343 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 6,878 121,162 SH   SOLE   121,162 0 0
TFS FINL CORP COM 87240R107 20,065 1,019,582 SH   SOLE   1,019,582 0 0
VERITEX HLDGS INC COM 923451108 17,442 598,776 SH   SOLE   598,776 0 0
VISA INC COM CL A 92826C839 11,499 61,200 SH   SOLE   61,200 0 0
WESTERN ALLIANCE BANCORP COM 957638109 23,980 420,700 SH   SOLE   420,700 0 0
WINTRUST FINL CORP COM 97650W108 10,649 150,204 SH   SOLE   150,204 0 0
WSFS FINL CORP COM 929328102 5,743 130,546 SH   SOLE   130,546 0 0
ZIONS BANCORPORATION N A COM 989701107 19,098 367,829 SH   SOLE   367,829 0 0