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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNC INVT COM 00123Q104   2,027,013 200,100 SH   SOLE   200,100 0 0
AMERIS BANCORP COM 03076K108   3,711,682 108,497 SH   SOLE   108,497 0 0
ANNALY CAPITAL MANAGEMENT COM NEW 035710839   2,001,000 100,000 SH   SOLE   100,000 0 0
BANC OF CALIFORNIA COM 05990K106   39,391,906 3,401,719 SH   SOLE   3,401,719 0 0
CF BANKSHARES COM 12520L109   559,365 37,291 SH   SOLE   37,291 0 0
CITIZENS FINL GROUP COM 174610105   4,213,302 161,553 SH   SOLE   161,553 0 0
CODORUS VY BANCORP COM 192025104   1,540,405 78,552 SH   SOLE   78,552 0 0
COMERICA COM 200340107   3,477,756 82,100 SH   SOLE   82,100 0 0
COMMUNITY WEST BANCSHARES COM 204157101   7,600,615 625,565 SH   SOLE   625,565 0 0
ENTERPRISE FINL SVCS COM 293712105   30,139,414 770,829 SH   SOLE   770,829 0 0
EVANS BANCORP COM NEW 29911Q208   13,029,640 522,649 SH   SOLE   522,649 0 0
F N B COM 302520101   20,326,192 1,776,765 SH   SOLE   1,776,765 0 0
FIFTH THIRD BANCORP COM 316773100   5,243,966 200,075 SH   SOLE   200,075 0 0
FINANCIAL INSTNS COM 317585404   3,207,812 203,800 SH   SOLE   203,800 0 0
FINWARD BANCORP COM 31812F109   2,212,762 99,227 SH   SOLE   99,227 0 0
FIRST MERCHANTS COM 320817109   21,210,131 751,333 SH   SOLE   751,333 0 0
HAWTHORN BANCSHARES COM 420476103   5,221,745 290,905 SH   SOLE   290,905 0 0
HORIZON BANCORP COM 440407104   16,167,667 1,553,090 SH   SOLE   1,553,090 0 0
INDEPENDENT BK MICH COM 453838609   5,783,106 340,985 SH   SOLE   340,985 0 0
INVESCO MORTGAGE CAPITAL COM 46131B704   4,421,616 385,494 SH   SOLE   385,494 0 0
KEYCORP COM 493267108   498,960 54,000 SH   SOLE   54,000 0 0
LAKELAND BANCORP COM 511637100   2,544,100 190,000 SH   SOLE   190,000 0 0
LUMENT FINANCE TRUST COM 55025L108   2,995,384 1,576,518 SH   SOLE   1,576,518 0 0
MAGYAR BANCORP COM 55977T208   2,776,879 268,557 SH   SOLE   268,557 0 0
MALVERN BANCORP COM 561409103   11,306,421 717,868 SH   SOLE   717,868 0 0
MERCHANTS BANCORP IND COM 58844R108   5,008,411 195,794 SH   SOLE   195,794 0 0
NEW YORK CMNTY BANCORP COM 649445103   8,430,000 750,000 SH   SOLE   750,000 0 0
OLD POINT FINL COM 680194107   10,494,078 604,846 SH   SOLE   604,846 0 0
PRIMIS FINANCIAL COM 74167B109   4,296,229 510,241 SH   SOLE   510,241 0 0
SB FINL GROUP COM 78408D105   341,194 27,036 SH   SOLE   27,036 0 0
SYNCHRONY FINANCIAL COM 87165B103   6,784,000 200,000 SH   SOLE   200,000 0 0
VALLEY NATL BANCORP COM 919794107   1,550 200 SH   SOLE   200 0 0
WINTRUST FINL COM 97650W108   254,170 3,500 SH   SOLE   3,500 0 0
ZIONS BANCORPORATION N A COM 989701107   3,223,200 120,000 SH   SOLE   120,000 0 0