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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AERCAP HOLDINGS NV SHS N00985106   729,000 12,500 SH   SOLE   12,500 0 0
ALGOMA STL GROUP INC COM 015658107   171,180 27,000 SH   SOLE   27,000 0 0
ALLY FINL INC COM 02005N100   817,755 33,446 SH   SOLE   22,307 11,139 0
APA CORPORATION COM 03743Q108   933,600 20,000 SH   SOLE   20,000 0 0
ASSURED GUARANTY LTD COM G0585R106   1,783,189 28,641 SH   SOLE   28,641 0 0
BANC OF CALIFORNIA INC COM 05990K106   9,377,226 588,652 SH   SOLE   545,677 42,975 0
BANK AMERICA CORP COM 060505104   2,689,344 81,200 SH   SOLE   81,200 0 0
BILL COM HLDGS INC COM 090043100   1,089,600 10,000 SH   SOLE   10,000 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103   6,111,519 344,505 SH   SOLE   290,371 54,134 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103   1,352,476 65,718 SH   SOLE   65,718 0 0
BROADWAY FINL CORP DEL COM 111444105   2,678,520 2,652,000 SH   SOLE   2,652,000 0 0
CADENCE BANK COM 12740C103   1,874,160 76,000 SH   SOLE   76,000 0 0
CAPITAL ONE FINL CORP COM 14040H105   1,239,622 13,335 SH   SOLE   8,806 4,529 0
CNB FINL CORP PA COM 126128107   2,024,672 85,106 SH   SOLE   85,106 0 0
COASTAL FINL CORP WA COM NEW 19046P209   11,546,885 242,990 SH   SOLE   214,812 28,178 0
CONNECTONE BANCORP INC COM 20786W107   5,994,372 247,599 SH   SOLE   216,628 30,971 0
CRA INTL INC COM 12618T105   987,031 8,062 SH   SOLE   8,062 0 0
CROSSFIRST BANKSHARES INC COM 22766M109   8,631,589 695,535 SH   SOLE   695,535 0 0
CUMULUS MEDIA INC COM CL A 231082801   419,175 67,500 SH   SOLE   67,500 0 0
DELTA AIR LINES INC DEL COM NEW 247361702   328,600 10,000 SH   SOLE   10,000 0 0
DEVON ENERGY CORP NEW COM 25179M103   615,100 10,000 SH   SOLE   10,000 0 0
EAST WEST BANCORP INC COM 27579R104   1,589,508 24,120 SH   SOLE   15,962 8,158 0
EASTERN BANKSHARES INC COM 27627N105   4,093,063 237,279 SH   SOLE   190,606 46,673 0
ELLINGTON FINANCIAL INC COM 28852N109   556,650 45,000 SH   SOLE   45,000 0 0
ENCORE CAP GROUP INC COM 292554102   1,209,047 25,220 SH   SOLE   25,220 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   712,200 60,000 SH   SOLE   60,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105   2,976,768 60,800 SH   SOLE   60,800 0 0
EQUITABLE HLDGS INC COM 29452E101   1,630,763 56,821 SH   SOLE   56,821 0 0
EQUITY BANCSHARES INC COM CL A 29460X109   4,759,464 145,683 SH   SOLE   113,307 32,376 0
FIFTH THIRD BANCORP COM 316773100   1,523,598 46,437 SH   SOLE   30,769 15,668 0
FIRST BANCSHARES INC MS COM 318916103   1,590,993 49,703 SH   SOLE   32,606 17,097 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   1,902,725 2,509 SH   SOLE   1,650 859 0
FIRST MERCHANTS CORP COM 320817109   3,132,582 76,200 SH   SOLE   76,200 0 0
FIRST UTD CORP COM 33741H107   5,189,034 264,073 SH   SOLE   264,073 0 0
HANCOCK WHITNEY CORPORATION COM 410120109   10,389,236 214,698 SH   SOLE   199,923 14,775 0
HERITAGE FINL CORP WASH COM 42722X106   7,207,447 235,230 SH   SOLE   205,964 29,266 0
HILLTOP HOLDINGS INC COM 432748101   1,140,380 38,000 SH   SOLE   38,000 0 0
INTUIT COM 461202103   1,401,192 3,600 SH   SOLE   3,600 0 0
ISHARES TR RUSSELL 2000 ETF 464287655   1,743,600 10,000 SH Put SOLE   10,000 0 0
JACKSON FINANCIAL INC COM CL A 46817M107   44,906,793 1,290,796 SH   SOLE   1,290,796 0 0
LATCH INC COM 51818V106   354,950 500,000 SH   SOLE   500,000 0 0
LIVE OAK BANCSHARES INC COM 53803X105   779,794 25,821 SH   SOLE   17,270 8,551 0
M & T BK CORP COM 55261F104   8,710,853 60,050 SH   SOLE   55,376 4,674 0
MERCHANTS BANCORP IND COM 58844R108   2,324,554 95,582 SH   SOLE   95,582 0 0
METROPOLITAN BK HLDG CORP COM 591774104   8,036,441 136,977 SH   SOLE   121,078 15,899 0
MVB FINL CORP COM 553810102   5,505,000 250,000 SH   SOLE   250,000 0 0
NATIONAL BK HLDGS CORP CL A 633707104   1,984,736 47,177 SH   SOLE   30,696 16,481 0
NEW YORK CMNTY BANCORP INC COM 649445103   3,870,000 450,000 SH   SOLE   450,000 0 0
NEXPOINT DIVERSIFIED REL ET COM NEW 65340G205   2,478,688 221,114 SH   SOLE   221,114 0 0
OCEANFIRST FINL CORP COM 675234108   1,912,245 89,988 SH   SOLE   58,445 31,543 0
OLD NATL BANCORP IND COM 680033107   7,446,273 414,142 SH   SOLE   372,637 41,505 0
OLD SECOND BANCORP INC ILL COM 680277100   11,119,185 693,216 SH   SOLE   649,322 43,894 0
ONEMAIN HLDGS INC COM 68268W103   1,101,628 33,072 SH   SOLE   22,037 11,035 0
OP BANCORP COM 67109R109   363,425 32,565 SH   SOLE   32,565 0 0
ORIGIN BANCORP INC COM 68621T102   1,972,405 53,744 SH   SOLE   35,341 18,403 0
PACWEST BANCORP DEL COM 695263103   1,567,118 68,284 SH   SOLE   45,454 22,830 0
PAGAYA TECHNOLOGIES LTD CL A SHS M7S64L115   19,668,683 15,861,841 SH   SOLE   15,861,841 0 0
PAGAYA TECHNOLOGIES LTD CL A SHS M7S64L115   6,406,667 5,166,667 SH Call SOLE   5,166,667 0 0
PCB BANCORP COM 69320M109   6,216,337 351,404 SH   SOLE   329,000 22,404 0
PEABODY ENERGY CORP COM 704551100   792,600 30,000 SH   SOLE   30,000 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107   2,802,554 75,297 SH   SOLE   49,061 26,236 0
PEOPLES BANCORP INC COM 709789101   1,756,218 62,167 SH   SOLE   40,772 21,395 0
PIONEER NAT RES CO COM 723787107   342,585 1,500 SH   SOLE   1,500 0 0
PONCE FINANCIAL GROUP INC COMMON STOCK 732344106   4,443,720 476,794 SH   SOLE   476,794 0 0
POPULAR INC COM NEW 733174700   2,004,323 30,222 SH   SOLE   20,339 9,883 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404   2,489,472 33,362 SH   SOLE   21,701 11,661 0
PREMIER FINANCIAL CORP COM 74052F108   1,811,548 67,169 SH   SOLE   44,071 23,098 0
PRIMIS FINANCIAL CORP COM 74167B109   4,527,648 382,080 SH   SOLE   347,876 34,204 0
PROLOGIS INC. COM 74340W103   225,460 2,000 SH   SOLE   2,000 0 0
QCR HOLDINGS INC COM 74727A104   2,864,774 57,711 SH   SOLE   38,336 19,375 0
RED ROCK RESORTS INC CL A 75700L108   570,343 14,255 SH   SOLE   14,255 0 0
RHINEBECK BANCORP INC COM 762093102   3,654,722 401,177 SH   SOLE   401,177 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207   260,047 83,886 SH   SOLE   83,886 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605   2,223,000 65,000 SH Put SOLE   65,000 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104   1,112,680 9,657 SH   SOLE   6,648 3,009 0
SILVERGATE CAP CORP CL A 82837P408   595,863 34,245 SH   SOLE   26,077 8,168 0
SIMON PPTY GROUP INC NEW COM 828806109   469,920 4,000 SH   SOLE   4,000 0 0
SLM CORP COM 78442P106   1,658,240 99,894 SH   SOLE   99,894 0 0
SNOWFLAKE INC CL A 833445109   430,620 3,000 SH   SOLE   3,000 0 0
SOUTHERN FIRST BANCSHARES COM 842873101   7,114,994 155,519 SH   SOLE   137,808 17,711 0
SPDR SER TR S&P REGL BKG 78464A698   2,054,079 34,969 SH   SOLE   13,303 21,666 0
SPRUCE POWER HOLDING CORP COM CL A 9837FR100   711,397 774,015 SH   SOLE   774,015 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107   856,214 20,005 SH   SOLE   20,005 0 0
STELLAR BANCORP INC COM 858927106   1,684,552 57,181 SH   SOLE   37,171 20,010 0
SURO CAPITAL CORP COM NEW 86887Q109   114,000 30,000 SH   SOLE   30,000 0 0
SVB FINANCIAL GROUP COM 78486Q101   3,078,353 13,376 SH   SOLE   12,326 1,050 0
SYNOVUS FINL CORP COM NEW 87161C501   9,330,199 248,474 SH   SOLE   228,163 20,311 0
THE ODP CORP COM 88337F105   683,100 15,000 SH   SOLE   15,000 0 0
TRINET GROUP INC COM 896288107   372,900 5,500 SH   SOLE   5,500 0 0
TRINITY CAP INC COM 896442308   295,110 27,000 SH   SOLE   27,000 0 0
UNITED SEC BANCSHARES CALIF COM 911460103   2,010,096 274,979 SH   SOLE   274,979 0 0
WEBSTER FINL CORP COM 947890109   5,301,559 111,989 SH   SOLE   98,795 13,194 0
WEST FRASER TIMBER CO LTD COM 952845105   361,450 5,000 SH   SOLE   5,000 0 0
WESTERN ALLIANCE BANCORP COM 957638109   1,372,858 23,050 SH   SOLE   15,418 7,632 0
WINTRUST FINL CORP COM 97650W108   2,650,209 31,356 SH   SOLE   20,570 10,786 0
ZIONS BANCORPORATION N A COM 989701107   1,155,113 23,497 SH   SOLE   15,723 7,774 0