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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLY FINL INC COM 02005N100 4,773 142,435 SH   SOLE   109,600 0 32,835
AMBAC FINL GROUP INC COM NEW 023139884 3,830 337,486 SH   SOLE   251,607 0 85,879
AMERIPRISE FINL INC COM 03076C106 1,622 6,825 SH   SOLE   6,725 0 100
AMPCO-PITTSBURG CORP *W EXP 08/01/202 032037111 163 392,000 SH   SOLE   392,000 0 0
AUDACY INC CL A 05070N103 64 68,000 SH   SOLE   68,000 0 0
AXOS FINANCIAL INC COM 05465C100 2,828 78,880 SH   SOLE   60,300 0 18,580
BALLANTYNE STRONG INC COM 058516105 85 35,133 SH   SOLE   0 0 35,133
BARCLAYS PLC ADR 06738E204 3,299 434,135 SH   SOLE   390,100 0 44,035
BAYFIRST FINANCIAL CORP COM 07279B104 613 35,250 SH   SOLE   35,250 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 2,638 163,425 SH   SOLE   92,000 0 71,425
BUSINESS FIRST BANCSHARES IN COM 12326C105 601 28,210 SH   SOLE   28,000 0 210
CNB FINL CORP PA COM 126128107 636 26,301 SH   SOLE   26,301 0 0
CONNECTONE BANCORP INC COM 20786W107 1,676 68,565 SH   SOLE   44,400 0 24,165
DIME CMNTY BANCSHARES INC COM 25432X102 1,526 51,451 SH   SOLE   51,451 0 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 153 12,650 SH   SOLE   0 0 12,650
ENACT HLDGS INC COM 29249E109 569 26,475 SH   SOLE   21,193 0 5,282
ESQUIRE FINL HLDGS INC COM 29667J101 2,340 70,260 SH   SOLE   50,260 0 20,000
FINANCIAL INSTNS INC COM 317585404 2,265 87,043 SH   SOLE   44,520 0 42,523
FIRST BANCORP P R COM NEW 318672706 6,486 502,420 SH   SOLE   415,300 0 87,120
FIRST BUSINESS FINL SVCS INC COM 319390100 744 23,850 SH   SOLE   22,500 0 1,350
FIRST INTERNET BANCORP COM 320557101 2,165 58,790 SH   SOLE   40,000 0 18,790
INVESCO EXCHANGE TRADED FD T BUYBACK ACHIEV 46137V308 723 9,325 SH   SOLE   0 0 9,325
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 1,961 14,608 SH   SOLE   0 0 14,608
ISHARES TR RUS 2000 VAL ETF 464287630 460 3,380 SH   SOLE   0 0 3,380
JACKSON FINANCIAL INC COM CL A 46817M107 4,775 178,500 SH   SOLE   156,300 0 22,200
KINGSTONE COS INC COM 496719105 1,334 338,695 SH   SOLE   286,625 0 52,070
KKR INCOME OPPORTUNITIES FD COM 48249T106 335 28,806 SH   SOLE   0 0 28,806
KYNDRYL HLDGS INC COMMON STOCK 50155Q100 108 11,000 SH   SOLE   11,000 0 0
LAS VEGAS SANDS CORP COM 517834107 202 6,000 SH   SOLE   6,000 0 0
LOYALTY VENTURES INC COMMON STOCK 54911Q107 50 14,000 SH   SOLE   14,000 0 0
MELCO RESORTS AND ENTMNT LTD ADR 585464100 69 12,000 SH   SOLE   12,000 0 0
MERIDIAN CORPORATION COM 58958P104 2,049 67,635 SH   SOLE   50,874 0 16,761
MGIC INVT CORP WIS COM 552848103 1,369 108,630 SH   SOLE   108,630 0 0
NAVIENT CORPORATION COM 63938C108 4,706 336,400 SH   SOLE   275,840 0 60,560
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 304 32,577 SH   SOLE   29,200 0 3,377
NMI HLDGS INC CL A 629209305 4,178 250,946 SH   SOLE   200,696 0 50,250
OFG BANCORP COM 67103X102 6,084 239,520 SH   SOLE   196,700 0 42,820
ONEMAIN HLDGS INC COM 68268W103 4,486 119,999 SH   SOLE   94,400 0 25,599
PACWEST BANCORP DEL COM 695263103 3,251 121,950 SH   SOLE   120,600 0 1,350
PARKE BANCORP INC COM 700885106 429 20,450 SH   SOLE   20,450 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107 4,818 110,225 SH   SOLE   94,450 0 15,775
PIMCO DYNAMIC INCOME FD SHS 72201Y101 235 11,268 SH   SOLE   0 0 11,268
PIMCO ETF TR ACTIVE BD ETF 72201R775 276 2,900 SH   SOLE   0 0 2,900
POPULAR INC COM NEW 733174700 900 11,700 SH   SOLE   7,000 0 4,700
ANYWHERE REAL ESTATE INC COM 75605Y106 4,449 452,595 SH   SOLE   341,000 0 111,595
REPUBLIC FIRST BANCORP INC COM 760416107 2,041 535,570 SH   SOLE   364,682 0 170,888
SLM CORP COM 78442P106 811 50,900 SH   SOLE   24,000 0 26,900
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 702 1,697 SH   SOLE   0 0 1,697
SUNCOKE ENERGY INC COM 86722A103 327 48,022 SH   SOLE   46,000 0 2,022
SYNCHRONY FINANCIAL COM 87165B103 365 13,210 SH   SOLE   12,600 0 610
TEXAS CAP BANCSHARES INC COM 88224Q107 1,105 21,000 SH   SOLE   21,000 0 0
TRUIST FINL CORP COM 89832Q109 3,183 67,099 SH   SOLE   58,000 0 9,099
UMB FINL CORP COM 902788108 215 2,500 SH   SOLE   2,500 0 0
UNITY BANCORP INC COM 913290102 617 23,305 SH   SOLE   23,305 0 0
VICTORY CAP HLDGS INC COM CL A 92645B103 4,937 204,875 SH   SOLE   172,500 0 32,375
VMWARE INC CL A COM 928563402 201 1,762 SH   SOLE   1,762 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,535 35,900 SH   SOLE   35,400 0 500
WP CAREY INC COM 92936U109 220 2,660 SH   SOLE   0 0 2,660
CITIZENS FINL GROUP INC COM 174610105 357 10,000 SH   SOLE   10,000 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103 2,161 3,305 SH   SOLE   3,231 0 74
PGIM GLOBAL HIGH YIELD FD FO COM 69346J106 133 11,595 SH   SOLE   0 0 11,595
GENERATION INCOME PPTYS INC COM NEW 37149D204 344 53,871 SH   SOLE   51,871 0 2,000
GENWORTH FINL INC COM CL A 37247D106 8,308 2,353,575 SH   SOLE   1,894,500 0 459,075
HEWLETT PACKARD ENTERPRISE C COM 42824C109 219 16,500 SH   SOLE   16,500 0 0
META PLATFORMS INC CL A 30303M102 327 2,030 SH   SOLE   2,000 0 30
OP BANCORP COM 67109R109 734 70,000 SH   SOLE   70,000 0 0
PARK HOTELS & RESORTS INC COM 700517105 326 24,000 SH   SOLE   24,000 0 0
VISA INC COM CL A 92826C839 450 2,286 SH   SOLE   1,900 0 386
VIRTUS INVT PARTNERS INC COM 92828Q109 1,488 8,698 SH   SOLE   7,655 0 1,043
WEBSTER FINL CORP COM 947890109 358 8,500 SH   SOLE   8,500 0 0
UNITED STATES STL CORP NEW COM 912909108 304 17,000 SH   SOLE   17,000 0 0