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 2,622 197,901 SH   SOLE   197,901 0 0
AGNC INVT CORP COM 00123Q104 7,644 722,500 SH   SOLE   722,500 0 0
AXOS FINL INC COM 05465C100 5,394 297,497 SH   SOLE   297,497 0 0
BK OF AMERICA CORP COM 060505104 6,970 328,289 SH   SOLE   328,289 0 0
CADENCE BANCORPORATION CL A 12739A100 6,217 949,127 SH   SOLE   949,127 0 0
CAMBRIDGE BANCORP COM 132152109 6,015 115,671 SH   SOLE   115,671 0 0
CAROLINA FINL CORP NEW COM 143873107 3,974 153,629 SH   SOLE   153,629 0 0
CITIGROUP INC COM NEW 172967424 13,478 320,000 SH   SOLE   320,000 0 0
CITIZENS FINANCIAL GROUP INC COM 174610105 13,487 717,036 SH   SOLE   717,036 0 0
COMMUNITY BANKERS TR CORP COM 203612106 3,388 698,506 SH   SOLE   698,506 0 0
COMMUNITY WEST BANCSHARES COM 204157101 2,508 411,788 SH   SOLE   411,788 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 4,994 371,606 SH   SOLE   371,606 0 0
EAST WEST BANCORP INC COM 27579R104 2,544 98,840 SH   SOLE   98,840 0 0
F N B CORP COM 302520101 5,929 804,491 SH   SOLE   804,491 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 8,345 68,600 SH   SOLE   68,600 0 0
FIRST BANCORP P R COM NEW 318672706 5,723 1,075,821 SH   SOLE   1,075,821 0 0
FIRST BANCSHARES INC MS COM 318916103 8,816 462,298 SH   SOLE   462,298 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 2,241 322,844 SH   SOLE   322,844 0 0
FIRST INTERNET BANCORP COM 320557101 13,169 801,983 SH   SOLE   801,983 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 8,442 432,468 SH   SOLE   432,468 0 0
INDEPENDENT BK GROUP INC COM 45384B106 8,630 364,447 SH   SOLE   364,447 0 0
INVESTAR HLDG CORP COM 46134L105 6,223 487,340 SH   SOLE   487,340 0 0
KEYCORP COM 493267108 13,317 1,284,200 SH   SOLE   1,284,200 0 0
LAKELAND FINL CORP COM 511656100 3,916 106,564 SH   SOLE   106,564 0 0
MACKINAC FINL CORP COM 554571109 1,284 122,912 SH   SOLE   122,912 0 0
MASTERCARD INC CL A 57636Q104 5,846 24,200 SH   SOLE   24,200 0 0
OLD SECOND BANCORP INC ILL COM 680277100 4,539 656,880 SH   SOLE   656,880 0 0
OP BANCORP COM 67109R109 2,828 379,083 SH   SOLE   379,083 0 0
OPUS BK IRVINE CALIF COM 684000102 5,479 316,179 SH   SOLE   316,179 0 0
ORIGIN BANCORP INC COM 68621T102 1,601 79,080 SH   SOLE   79,080 0 0
PACIFIC PREMIER BANCORP COM 69478X105 9,434 500,742 SH   SOLE   500,742 0 0
PACWEST BANCORP DEL COM 695263103 7,840 437,490 SH   SOLE   437,490 0 0
PAYPAL HLDGS INC COM 70450Y103 13,174 137,600 SH   SOLE   137,600 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 4,580 122,000 SH   SOLE   122,000 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 6,108 180,602 SH   SOLE   180,602 0 0
PROSPERITY BANCSHARES INC COM 743606105 5,790 120,000 SH   SOLE   120,000 0 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 14,434 1,609,182 SH   SOLE   1,609,182 0 0
SB FINL GROUP INC COM 78408D105 2,994 269,260 SH   SOLE   269,260 0 0
SVB FINANCIAL GROUP COM 78486Q101 13,535 89,588 SH   SOLE   89,588 0 0
SYNOVUS FINL CORP COM NEW 87161C501 5,337 303,935 SH   SOLE   303,935 0 0
TCF FINANCIAL CORPORATION NE COM 872307103 13,703 604,743 SH   SOLE   604,743 0 0
TFS FINL CORP COM 87240R107 11,048 723,502 SH   SOLE   723,502 0 0
US BANCORP DEL COM NEW 902973304 5,236 152,000 SH   SOLE   152,000 0 0
VERITEX HLDGS INC COM 923451108 6,746 482,876 SH   SOLE   482,876 0 0
VISA INC COM CL A 92826C839 10,489 65,100 SH   SOLE   65,100 0 0
WESTERN ALLIANCE BANCORP COM 957638109 15,798 516,100 SH   SOLE   516,100 0 0
ZIONS BANCORPORATION N A COM 989701107 9,830 367,329 SH   SOLE   367,329 0 0