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 4,026 202,000 SH   SOLE   202,000 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 7,811 241,308 SH   SOLE   241,308 0 0
AXOS FINL INC COM 05465C100 7,229 287,097 SH   SOLE   287,097 0 0
BANK AMER CORP COM 060505104 15,003 608,900 SH   SOLE   608,900 0 0
BANK OZK COM 06417N103 6,911 302,700 SH   SOLE   302,700 0 0
BANNER CORP COM NEW 06652V208 9,994 186,870 SH   SOLE   186,870 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 2,435 100,500 SH   SOLE   100,500 0 0
CAMBRIDGE BANCORP COM 132152109 7,174 86,171 SH   SOLE   86,171 0 0
CAROLINA FINL CORP NEW COM 143873107 4,620 156,129 SH   SOLE   156,129 0 0
CITIGROUP INC COM NEW 172967424 10,495 201,600 SH   SOLE   201,600 0 0
CITIZENS FINL GROUP INC COM 174610105 17,729 596,336 SH   SOLE   596,336 0 0
COMMUNITY BANKERS TR CORP COM 203612106 5,857 811,206 SH   SOLE   811,206 0 0
COMMUNITY WEST BANCSHARES COM 204157101 5,102 508,660 SH   SOLE   508,660 0 0
CONDOR HOSPITALITY TR INC COM NEW 20676Y403 1,880 272,792 SH   SOLE   272,792 0 0
EAST WEST BANCORP INC COM 27579R104 1,602 36,809 SH   SOLE   36,809 0 0
FB FINL CORP COM 30257X104 6,090 173,900 SH   SOLE   173,900 0 0
FCB FINL HLDGS INC CL A 30255G103 8,965 266,960 SH   SOLE   266,960 0 0
FIFTH THIRD BANCORP COM 316773100 16,662 708,110 SH   SOLE   708,110 0 0
FIRST BANCORP N C COM 318910106 10,251 313,879 SH   SOLE   313,879 0 0
FIRST BANCORP P R COM NEW 318672706 14,844 1,726,073 SH   SOLE   1,726,073 0 0
FIRST BANCSHARES INC MS COM 318916103 17,453 576,965 SH   SOLE   576,965 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 7,261 599,122 SH   SOLE   599,122 0 0
FIRST FINL BANCORP OH COM 320209109 2,330 98,228 SH   SOLE   98,228 0 0
FIRST INTERNET BANCORP COM 320557101 16,854 824,576 SH   SOLE   824,576 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 1,156 58,365 SH   SOLE   58,365 0 0
FNB CORP PA COM 302520101 8,773 891,591 SH   SOLE   891,591 0 0
GREAT WESTN BANCORP INC COM 391416104 5,338 170,800 SH   SOLE   170,800 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 4,816 232,093 SH   SOLE   232,093 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 12,070 348,338 SH   SOLE   348,338 0 0
HERITAGE COMMERCE CORP COM 426927109 153 13,501 SH   SOLE   13,501 0 0
HERITAGE FINL CORP WASH COM 42722X106 12,728 428,271 SH   SOLE   428,271 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 4,873 231,820 SH   SOLE   231,820 0 0
INDEPENDENT BK GROUP INC COM 45384B106 4,842 105,800 SH   SOLE   105,800 0 0
INVESTAR HLDG CORP COM 46134L105 8,977 361,990 SH   SOLE   361,990 0 0
JEFFERIES FINL GROUP INC COM 47233W109 7,951 458,000 SH   SOLE   458,000 0 0
LAKELAND FINL CORP COM 511656100 169 4,200 SH   SOLE   4,200 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 5,284 164,652 SH   SOLE   164,652 0 0
MACKINAC FINL CORP COM 554571109 3,354 245,690 SH   SOLE   245,690 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 3,001 70,725 SH   SOLE   70,725 0 0
OLD POINT FINL CORP COM 680194107 3,865 177,057 SH   SOLE   177,057 0 0
OLD SECOND BANCORP INC ILL COM 680277100 8,676 667,380 SH   SOLE   667,380 0 0
OP BANCORP COM 67109R109 6,541 737,384 SH   SOLE   737,384 0 0
OPUS BK IRVINE CALIF COM 684000102 10,412 531,494 SH   SOLE   531,494 0 0
PACIFIC PREMIER BANCORP COM 69478X105 11,061 433,442 SH   SOLE   433,442 0 0
PACWEST BANCORP DEL COM 695263103 9,618 289,014 SH   SOLE   289,014 0 0
PAYPAL HLDGS INC COM 70450Y103 9,300 110,600 SH   SOLE   110,600 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 12,735 293,772 SH   SOLE   293,772 0 0
PROVIDENT BANCORP INC COM 74383X109 1,539 70,990 SH   SOLE   70,990 0 0
QCR HOLDINGS INC COM 74727A104 5,477 170,676 SH   SOLE   170,676 0 0
REGIONS FINL CORP NEW COM 7591EP100 7,850 586,700 SH   SOLE   586,700 0 0
RELIANT BANCORP INC COM 75956B101 5,410 234,800 SH   SOLE   234,800 0 0
SANDY SPRING BANCORP INC COM 800363103 11,746 374,791 SH   SOLE   374,791 0 0
SB FINL GROUP INC COM 78408D105 2,527 153,611 SH   SOLE   153,611 0 0
SELECT BANCORP INC NEW COM 81617L108 3,355 271,000 SH   SOLE   271,000 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 5,655 55,000 SH   SOLE   55,000 0 0
SMARTFINANCIAL INC COM NEW 83190L208 4,396 240,589 SH   SOLE   240,589 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 6,265 473,933 SH   SOLE   473,933 0 0
SVB FINL GROUP COM 78486Q101 13,121 69,088 SH   SOLE   69,088 0 0
SYNOVUS FINL CORP COM NEW 87161C501 5,806 181,483 SH   SOLE   181,483 0 0
TFS FINL CORP COM 87240R107 24,830 1,539,357 SH   SOLE   1,539,357 0 0
TRICO BANCSHARES COM 896095106 7,360 217,805 SH   SOLE   217,805 0 0
TRIUMPH BANCORP INC COM 89679E300 7,368 248,064 SH   SOLE   248,064 0 0
UMPQUA HLDGS CORP COM 904214103 4,532 285,000 SH   SOLE   285,000 0 0
VERITEX HLDGS INC COM 923451108 7,588 354,911 SH   SOLE   354,911 0 0
WESTERN ALLIANCE BANCORP COM 957638109 8,167 206,800 SH   SOLE   206,800 0 0
WINTRUST FINL CORP COM 97650W108 4,889 73,537 SH   SOLE   73,537 0 0
ZIONS BANCORPORATION N A COM 989701107 15,205 373,229 SH   SOLE   373,229 0 0