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
AERCAP HOLDINGS NV SHS N00985106 754 15,000 SH   SOLE   15,000 0 0
AFFIRM HLDGS INC COM CL A 00827B106 11,570 250,000 SH   SOLE   250,000 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 6,420 143,680 SH   SOLE   116,116 27,564 0
ALLY FINL INC COM 02005N100 4,815 110,746 SH   SOLE   86,800 23,946 0
AMERICAN AIRLS GROUP INC COM 02376R102 456 25,000 SH   SOLE   25,000 0 0
APA CORPORATION COM 03743Q108 413 10,000 SH   SOLE   10,000 0 0
ASSURED GUARANTY LTD COM G0585R106 4,017 63,098 SH   SOLE   63,098 0 0
BANC OF CALIFORNIA INC COM 05990K106 11,248 581,002 SH   SOLE   488,107 92,895 0
BANKUNITED INC COM 06652K103 7,193 163,616 SH   SOLE   141,957 21,659 0
BERKSHIRE HILLS BANCORP INC COM 084680107 2,951 101,870 SH   SOLE   60,784 41,086 0
BK OF AMERICA CORP COM 060505104 309 7,500 SH   SOLE   7,500 0 0
BLOCK INC CL A 852234103 12,204 90,000 SH   SOLE   90,000 0 0
BOK FINL CORP COM NEW 05561Q201 3,470 36,933 SH   SOLE   22,029 14,904 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 7,596 455,381 SH   SOLE   349,478 105,903 0
BRIGHTHOUSE FINL INC COM 10922N103 9,677 187,321 SH   SOLE   187,321 0 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103 2,715 111,960 SH   SOLE   111,960 0 0
BROADWAY FINL CORP DEL COM 111444105 985 619,337 SH   SOLE   619,337 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 9,296 382,060 SH   SOLE   382,060 0 0
CADENCE BANK COM 12740C103 2,487 85,000 SH   SOLE   85,000 0 0
CALIFORNIA BANCORP INC COM 13005U101 3,302 143,484 SH   SOLE   143,484 0 0
CAPITAL ONE FINL CORP COM 14040H105 3,038 23,138 SH   SOLE   13,846 9,292 0
CBTX INC COM 12481V104 2,325 75,000 SH   SOLE   75,000 0 0
CITIGROUP INC COM NEW 172967424 15,219 285,000 SH   SOLE   285,000 0 0
COASTAL FINL CORP WA COM NEW 19046P209 19,657 429,671 SH   SOLE   397,201 32,470 0
COLONY BANKCORP INC COM 19623P101 2,801 150,000 SH   SOLE   150,000 0 0
COMMUNITY FINL CORP MD COM 20368X101 2,276 56,284 SH   SOLE   56,284 0 0
CONNECTONE BANCORP INC COM 20786W107 14,530 453,918 SH   SOLE   387,755 66,163 0
CRA INTL INC COM 12618T105 1,522 18,069 SH   SOLE   18,069 0 0
CROSSFIRST BANKSHARES INC COM 22766M109 16,818 1,067,136 SH   SOLE   1,067,136 0 0
CUSTOMERS BANCORP INC COM 23204G100 6,257 120,000 SH   SOLE   120,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 594 15,000 SH   SOLE   15,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 591 10,000 SH   SOLE   10,000 0 0
EASTERN BANKSHARES INC COM 27627N105 10,107 469,206 SH   SOLE   374,629 94,577 0
ENCORE CAP GROUP INC COM 292554102 3,613 57,590 SH   SOLE   57,590 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100 839 75,000 SH   SOLE   75,000 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 903 35,000 SH   SOLE   35,000 0 0
EOG RES INC COM 26875P101 238 2,000 SH   SOLE   2,000 0 0
EQUITABLE HLDGS INC COM 29452E101 9,490 307,024 SH   SOLE   307,024 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 8,755 270,955 SH   SOLE   207,359 63,596 0
FIFTH THIRD BANCORP COM 316773100 3,559 82,685 SH   SOLE   49,271 33,414 0
FIRST BANCSHARES INC MS COM 318916103 14,654 435,346 SH   SOLE   401,188 34,158 0
FIRST BUSEY CORP COM NEW 319383204 3,801 150,000 SH   SOLE   150,000 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103 4,686 7,041 SH   SOLE   5,308 1,733 0
FIRST MERCHANTS CORP COM 320817109 2,793 67,141 SH   SOLE   67,141 0 0
FIRST UTD CORP COM 33741H107 5,483 243,348 SH   SOLE   243,348 0 0
FIVE STAR BANCORP COM 33830T103 1,864 65,882 SH   SOLE   65,882 0 0
FORGEROCK INC CL A 34631B101 658 30,000 SH   SOLE   30,000 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 4,434 163,965 SH   SOLE   163,965 0 0
FS BANCORP INC COM 30263Y104 11,876 383,087 SH   SOLE   383,087 0 0
FVCBANKCORP INC COM 36120Q101 3,630 174,963 SH   SOLE   174,963 0 0
GOOD TIMES RESTAURANTS INC COM NEW 382140879 110 31,464 SH   SOLE   31,464 0 0
GREENLIGHT CAP RE LTD NOTE 4.000% 8/0 395366AB3 5,700 6,000,000 PRN   SOLE   6,000,000 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 10,800 207,102 SH   SOLE   177,946 29,156 0
HANMI FINL CORP COM NEW 410495204 3,123 126,902 SH   SOLE   75,647 51,255 0
HOME BANCSHARES INC COM 436893200 3,051 135,000 SH   SOLE   135,000 0 0
HOMETRUST BANCSHARES INC COM 437872104 4,171 141,240 SH   SOLE   84,283 56,957 0
HUDSON PAC PPTYS INC COM 444097109 278 10,000 SH   SOLE   10,000 0 0
ISHARES TR CORE S&P MCP ETF 464287507 2,254 8,400 SH Put SOLE   8,400 0 0
ISTAR INC COM 45031U101 535 22,851 SH   SOLE   22,851 0 0
JACKSON FINANCIAL INC COM CL A 46817M107 77,828 1,759,620 SH   SOLE   1,759,620 0 0
LAKELAND BANCORP INC COM 511637100 3,400 203,578 SH   SOLE   122,007 81,571 0
LIMESTONE BANCORP INC COM 53262L105 6,293 301,100 SH   SOLE   301,100 0 0
LIVE OAK BANCSHARES INC COM 53803X105 2,354 46,265 SH   SOLE   27,584 18,681 0
M & T BK CORP COM 55261F104 2,119 12,500 SH   SOLE   12,500 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 13,635 560,887 SH   SOLE   560,887 0 0
MALVERN BANCORP INC COM 561409103 10,320 640,587 SH   SOLE   640,587 0 0
MARATHON PETE CORP COM 56585A102 431 5,039 SH   SOLE   5,039 0 0
META PLATFORMS INC CL A 30303M102 222 1,000 SH   SOLE   1,000 0 0
METROPOLITAN BK HLDG CORP COM 591774104 42,723 419,799 SH   SOLE   384,949 34,850 0
MGIC INVT CORP WIS COM 552848103 2,993 220,883 SH   SOLE   220,883 0 0
MONEYLION INC CL A 60938K106 251 100,000 SH   SOLE   100,000 0 0
MONEYLION INC *W EXP 09/22/202 60938K114 19 50,000 SH   SOLE   50,000 0 0
MORGAN STANLEY COM NEW 617446448 7,079 81,000 SH   SOLE   81,000 0 0
MP MATERIALS CORP COM CL A 553368101 2,294 40,000 SH   SOLE   40,000 0 0
MVB FINL CORP COM 553810102 20,182 486,325 SH   SOLE   486,325 0 0
NATIONAL BK HLDGS CORP CL A 633707104 7,880 195,619 SH   SOLE   163,457 32,162 0
NEXTDOOR HOLDINGS INC COM CL A 65345M108 150 25,000 SH   SOLE   25,000 0 0
OCEANFIRST FINL CORP COM 675234108 7,443 370,282 SH   SOLE   309,058 61,224 0
OLD NATL BANCORP IND COM 680033107 7,447 454,668 SH   SOLE   374,200 80,468 0
OLD SECOND BANCORP INC ILL COM 680277100 12,329 849,682 SH   SOLE   764,846 84,836 0
ONEMAIN HLDGS INC COM 68268W103 32,334 682,009 SH   SOLE   658,866 23,143 0
OP BANCORP COM 67109R109 4,479 323,368 SH   SOLE   323,368 0 0
ORIGIN BANCORP INC COM 68621T102 8,299 196,233 SH   SOLE   158,617 37,616 0
PACWEST BANCORP DEL COM 695263103 10,736 248,919 SH   SOLE   200,597 48,322 0
PARKE BANCORP INC COM 700885106 2,537 107,475 SH   SOLE   107,475 0 0
PCB BANCORP COM 69320M109 30,372 1,323,381 SH   SOLE   1,275,531 47,850 0
PCSB FINL CORP COM 69324R104 4,345 227,382 SH   SOLE   227,382 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 10,548 303,534 SH   SOLE   252,152 51,382 0
PEOPLES BANCORP INC COM 709789101 6,927 221,254 SH   SOLE   177,922 43,332 0
PIEDMONT LITHIUM INC COM 72016P105 1,095 15,000 SH   SOLE   15,000 0 0
PIONEER NAT RES CO COM 723787107 625 2,500 SH   SOLE   2,500 0 0
POPULAR INC COM NEW 733174700 10,612 129,822 SH   SOLE   107,861 21,961 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 7,680 103,659 SH   SOLE   80,881 22,778 0
PREMIER FINANCIAL CORP COM 74052F108 7,760 255,843 SH   SOLE   186,337 69,506 0
PRIMIS FINANCIAL CORP COM 74167B109 6,027 431,111 SH   SOLE   359,167 71,944 0
PROFESSIONAL HLDG CORP CL A COM 743139107 10,016 443,991 SH   SOLE   443,991 0 0
QCR HOLDINGS INC COM 74727A104 15,000 265,063 SH   SOLE   224,573 40,490 0
RADIAN GROUP INC COM 750236101 1,759 79,194 SH   SOLE   79,194 0 0
RED ROCK RESORTS INC CL A 75700L108 1,590 32,752 SH   SOLE   32,752 0 0
RHINEBECK BANCORP INC COM 762093102 4,148 408,254 SH   SOLE   408,254 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 903 172,955 SH   SOLE   172,955 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605 939 24,500 SH Put SOLE   24,500 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 17,534 59,742 SH   SOLE   53,181 6,561 0
SILVERGATE CAP CORP CL A 82837P408 124,646 827,828 SH   SOLE   810,573 17,255 0
SIMON PPTY GROUP INC NEW COM 828806109 526 4,000 SH   SOLE   4,000 0 0
SLM CORP COM 78442P106 5,058 275,466 SH   SOLE   275,466 0 0
SNOWFLAKE INC CL A 833445109 344 1,500 SH   SOLE   1,500 0 0
SOUTHERN FIRST BANCSHARES COM 842873101 9,946 195,628 SH   SOLE   160,113 35,515 0
SUMMIT FINL GROUP INC COM 86606G101 1,919 75,000 SH   SOLE   75,000 0 0
SVB FINANCIAL GROUP COM 78486Q101 9,415 16,829 SH   SOLE   14,525 2,304 0
SYNOVUS FINL CORP COM NEW 87161C501 11,473 234,153 SH   SOLE   191,206 42,947 0
TIMBERLAND BANCORP INC COM 887098101 1,776 65,763 SH   SOLE   65,763 0 0
TRINITY CAP INC COM 896442308 193 10,000 SH   SOLE   10,000 0 0
TRIUMPH BANCORP INC COM 89679E300 5,954 63,328 SH   SOLE   63,328 0 0
UNITED SEC BANCSHARES CALIF COM 911460103 2,103 253,431 SH   SOLE   253,431 0 0
USCB FINANCIAL HOLDINGS INC CLASS A COM 90355N101 5,782 403,500 SH   SOLE   403,500 0 0
VOYA FINANCIAL INC COM 929089100 1,659 25,000 SH   SOLE   25,000 0 0
WASHINGTON FED INC COM 938824109 1,964 59,852 SH   SOLE   59,852 0 0
WINTRUST FINL CORP COM 97650W108 7,823 84,182 SH   SOLE   62,425 21,757 0