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 2,531 142,440 SH   SOLE   142,440 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 8,161 242,008 SH   SOLE   242,008 0 0
AXOS FINL INC COM 05465C100 8,335 287,797 SH   SOLE   287,797 0 0
BANK AMER CORP COM 060505104 15,464 560,500 SH   SOLE   560,500 0 0
BANK OZK COM 06417N103 8,798 303,600 SH   SOLE   303,600 0 0
BANNER CORP COM NEW 06652V208 8,254 152,370 SH   SOLE   152,370 0 0
CAMBRIDGE BANCORP COM 132152109 7,230 87,271 SH   SOLE   87,271 0 0
CAROLINA FINL CORP NEW COM 143873107 5,414 156,529 SH   SOLE   156,529 0 0
CITIGROUP INC COM NEW 172967424 21,789 350,200 SH   SOLE   350,200 0 0
CITIZENS FINL GROUP INC COM 174610105 19,758 607,936 SH   SOLE   607,936 0 0
COMERICA INC COM 200340107 10,866 148,203 SH   SOLE   148,203 0 0
COMMUNITY BANKERS TR CORP COM 203612106 5,954 813,406 SH   SOLE   813,406 0 0
COMMUNITY WEST BANCSHARES COM 204157101 4,686 460,360 SH   SOLE   460,360 0 0
CONDOR HOSPITALITY TR INC COM NEW 20676Y403 2,461 273,492 SH   SOLE   273,492 0 0
EAST WEST BANCORP INC COM 27579R104 10,387 216,535 SH   SOLE   216,535 0 0
FIFTH THIRD BANCORP COM 316773100 21,919 869,110 SH   SOLE   869,110 0 0
FIRST BANCORP P R COM NEW 318672706 12,895 1,125,248 SH   SOLE   1,125,248 0 0
FIRST BANCSHARES INC MS COM 318916103 17,513 566,771 SH   SOLE   566,771 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 6,927 600,822 SH   SOLE   600,822 0 0
FIRST INTERNET BANCORP COM 320557101 15,982 826,776 SH   SOLE   826,776 0 0
FNB CORP PA COM 302520101 9,476 893,991 SH   SOLE   893,991 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 15,022 371,838 SH   SOLE   371,838 0 0
HERITAGE FINL CORP WASH COM 42722X106 11,540 382,868 SH   SOLE   382,868 0 0
HOMESTREET INC COM 43785V102 5,815 220,695 SH   SOLE   220,695 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 4,997 232,420 SH   SOLE   232,420 0 0
INDEPENDENT BK GROUP INC COM 45384B106 12,351 240,811 SH   SOLE   240,811 0 0
INVESTAR HLDG CORP COM 46134L105 8,241 362,890 SH   SOLE   362,890 0 0
JEFFERIES FINL GROUP INC COM 47233W109 11,449 609,300 SH   SOLE   609,300 0 0
LAKELAND FINL CORP COM 511656100 6,028 133,307 SH   SOLE   133,307 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 6,882 184,052 SH   SOLE   184,052 0 0
MACKINAC FINL CORP COM 554571109 3,878 246,390 SH   SOLE   246,390 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 2,923 70,925 SH   SOLE   70,925 0 0
OLD POINT FINL CORP COM 680194107 3,762 177,457 SH   SOLE   177,457 0 0
OLD SECOND BANCORP INC ILL COM 680277100 8,425 669,180 SH   SOLE   669,180 0 0
OP BANCORP COM 67109R109 5,161 589,884 SH   SOLE   589,884 0 0
OPUS BK IRVINE CALIF COM 684000102 7,991 403,579 SH   SOLE   403,579 0 0
PACIFIC PREMIER BANCORP COM 69478X105 15,606 588,242 SH   SOLE   588,242 0 0
PACWEST BANCORP DEL COM 695263103 13,608 361,814 SH   SOLE   361,814 0 0
PAYPAL HLDGS INC COM 70450Y103 10,114 97,400 SH   SOLE   97,400 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 13,247 294,572 SH   SOLE   294,572 0 0
QCR HOLDINGS INC COM 74727A104 5,806 171,176 SH   SOLE   171,176 0 0
RELIANT BANCORP INC COM 75956B101 5,256 235,500 SH   SOLE   235,500 0 0
SB FINL GROUP INC COM 78408D105 2,775 154,011 SH   SOLE   154,011 0 0
SELECT BANCORP INC NEW COM 81617L108 2,729 240,047 SH   SOLE   240,047 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 8,350 65,200 SH   SOLE   65,200 0 0
SMARTFINANCIAL INC COM NEW 83190L208 5,264 278,388 SH   SOLE   278,388 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 5,601 382,325 SH   SOLE   382,325 0 0
SVB FINL GROUP COM 78486Q101 14,740 66,288 SH   SOLE   66,288 0 0
SYNOVUS FINL CORP COM NEW 87161C501 16,990 494,463 SH   SOLE   494,463 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 7,245 132,724 SH   SOLE   132,724 0 0
TFS FINL CORP COM 87240R107 18,756 1,138,782 SH   SOLE   1,138,782 0 0
TRICO BANCSHARES COM 896095106 8,636 219,805 SH   SOLE   219,805 0 0
UMPQUA HLDGS CORP COM 904214103 6,300 381,800 SH   SOLE   381,800 0 0
VERITEX HLDGS INC COM 923451108 11,609 479,294 SH   SOLE   479,294 0 0
WESTERN ALLIANCE BANCORP COM 957638109 13,609 331,600 SH   SOLE   331,600 0 0
WINTRUST FINL CORP COM 97650W108 4,965 73,737 SH   SOLE   73,737 0 0
ZIONS BANCORPORATION N A COM 989701107 16,994 374,229 SH   SOLE   374,229 0 0