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
ARCH CAP GROUP LTD ORD G0450A105 484 10,000 SH   SOLE   10,000 0 0
ENACT HLDGS INC COM 29249E109 4,710 211,675 SH   SOLE   173,600 0 38,075
ALLY FINL INC COM 02005N100 5,863 134,835 SH   SOLE   102,000 0 32,835
AMBAC FINL GROUP INC COM NEW 023139884 3,279 315,286 SH   SOLE   242,607 0 72,679
AMERIPRISE FINL INC COM 03076C106 2,050 6,825 SH   SOLE   6,725 0 100
AMPCO-PITTSBURG CORP COM 032037103 612 97,064 SH   SOLE   97,064 0 0
AMPCO-PITTSBURG CORP *W EXP 08/01/202 032037111 320 392,000 SH   SOLE   392,000 0 0
AUDACY INC CL A 05070N103 179 62,000 SH   SOLE   62,000 0 0
AXOS FINANCIAL INC COM 05465C100 3,659 78,880 SH   SOLE   60,300 0 18,580
BAYFIRST FINANCIAL CORP COM 07279B104 813 35,250 SH   SOLE   35,250 0 0
BARCLAYS PLC ADR 06738E204 2,755 348,735 SH   SOLE   304,700 0 44,035
BUSINESS FIRST BANCSHARES IN COM 12326C105 686 28,210 SH   SOLE   28,000 0 210
PIMCO ETF TR ACTIVE BD ETF 72201R775 295 2,900 SH   SOLE   0 0 2,900
POPULAR INC COM NEW 733174700 956 11,700 SH   SOLE   7,000 0 4,700
BALLANTYNE STRONG INC COM 058516105 108 35,133 SH   SOLE   0 0 35,133
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 2,726 163,425 SH   SOLE   92,000 0 71,425
CNB FINL CORP PA COM 126128107 692 26,301 SH   SOLE   26,301 0 0
CONNECTONE BANCORP INC COM 20786W107 2,195 68,565 SH   SOLE   44,400 0 24,165
DIME CMNTY BANCSHARES INC COM 25432X102 1,779 51,451 SH   SOLE   51,451 0 0
DELL TECHNOLOGIES INC CL C 24703L202 201 4,000 SH   SOLE   4,000 0 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 184 12,650 SH   SOLE   0 0 12,650
ESQUIRE FINL HLDGS INC COM 29667J101 2,361 70,260 SH   SOLE   50,260 0 20,000
META PLATFORMS INC CL A 30303M102 451 2,030 SH   SOLE   2,000 0 30
FIRST BUSINESS FINL SVCS INC COM 319390100 783 23,850 SH   SOLE   22,500 0 1,350
FIRST BANCORP P R COM NEW 318672706 6,592 502,420 SH   SOLE   415,300 0 87,120
FIRST CTZNS BANCSHARES INC N CL A 31946M103 2,200 3,305 SH   SOLE   3,231 0 74
FLUSHING FINL CORP COM 343873105 1,639 73,340 SH   SOLE   72,400 0 940
FINANCIAL INSTNS INC COM 317585404 2,623 87,043 SH   SOLE   44,520 0 42,523
REPUBLIC FIRST BANCORP INC COM 760416107 2,764 535,570 SH   SOLE   364,682 0 170,888
GENERATION INCOME PPTYS INC COM NEW 37149D204 446 62,000 SH   SOLE   60,000 0 2,000
GENWORTH FINL INC COM CL A 37247D106 7,076 1,871,975 SH   SOLE   1,484,500 0 387,475
FIRST INTERNET BANCORP COM 320557101 2,529 58,790 SH   SOLE   40,000 0 18,790
ISHARES TR RUS 2000 VAL ETF 464287630 546 3,380 SH   SOLE   0 0 3,380
JACKSON FINANCIAL INC COM CL A 46817M107 7,895 178,500 SH   SOLE   156,300 0 22,200
KYNDRYL HLDGS INC COMMON STOCK 50155Q100 144 11,000 SH   SOLE   11,000 0 0
KINGSTONE COS INC COM 496719105 1,802 338,695 SH   SOLE   286,625 0 52,070
KKR INCOME OPPORTUNITIES FD COM 48249T106 416 28,806 SH   SOLE   0 0 28,806
LAS VEGAS SANDS CORP COM 517834107 233 6,000 SH   SOLE   6,000 0 0
LOYALTY VENTURES INC COMMON STOCK 54911Q107 231 14,000 SH   SOLE   14,000 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 832 1,697 SH   SOLE   0 0 1,697
MELCO RESORTS AND ENTMNT LTD ADR 585464100 92 12,000 SH   SOLE   12,000 0 0
MERIDIAN CORPORATION COM 58958P104 2,170 67,635 SH   SOLE   50,874 0 16,761
MGIC INVT CORP WIS COM 552848103 1,431 105,630 SH   SOLE   105,630 0 0
NAVIENT CORPORATION COM 63938C108 5,502 322,900 SH   SOLE   262,340 0 60,560
NMI HLDGS INC CL A 629209305 5,030 243,946 SH   SOLE   193,696 0 50,250
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 358 32,577 SH   SOLE   29,200 0 3,377
OCEANFIRST FINL CORP COM 675234108 643 32,000 SH   SOLE   32,000 0 0
OFG BANCORP COM 67103X102 6,381 239,520 SH   SOLE   196,700 0 42,820
ONEMAIN HLDGS INC COM 68268W103 5,462 115,199 SH   SOLE   89,600 0 25,599
OP BANCORP COM 67109R109 692 50,000 SH   SOLE   50,000 0 0
PIMCO DYNAMIC INCOME FD SHS 72201Y101 275 11,268 SH   SOLE   0 0 11,268
PENNYMAC FINL SVCS INC NEW COM 70932M107 5,545 104,225 SH   SOLE   88,450 0 15,775
PEAPACK-GLADSTONE FINL CORP COM 704699107 280 8,044 SH   SOLE   8,044 0 0
PARKE BANCORP INC COM 700885106 483 20,450 SH   SOLE   20,450 0 0
INVESCO EXCHANGE TRADED FD T BUYBACK ACHIEV 46137V308 813 8,980 SH   SOLE   0 0 8,980
REALOGY HLDGS CORP COM 75605Y106 7,230 461,095 SH   SOLE   309,500 0 151,595
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 2,205 13,983 SH   SOLE   0 0 13,983
SHORE BANCSHARES INC COM 825107105 686 33,479 SH   SOLE   33,416 0 63
SLM CORP COM 78442P106 494 26,900 SH   SOLE   0 0 26,900
SUNCOKE ENERGY INC COM 86722A103 303 34,022 SH   SOLE   32,000 0 2,022
SYNCHRONY FINANCIAL COM 87165B103 460 13,210 SH   SOLE   12,600 0 610
TEXAS CAP BANCSHARES INC COM 88224Q107 1,066 18,600 SH   SOLE   18,600 0 0
TRUIST FINL CORP COM 89832Q109 3,805 67,099 SH   SOLE   58,000 0 9,099
UMB FINL CORP COM 902788108 243 2,500 SH   SOLE   2,500 0 0
UNITY BANCORP INC COM 913290102 832 29,720 SH   SOLE   29,720 0 0
VICTORY CAP HLDGS INC COM CL A 92645B103 5,265 182,375 SH   SOLE   150,000 0 32,375
VMWARE INC CL A COM 928563402 201 1,762 SH   SOLE   1,762 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,839 22,200 SH   SOLE   22,200 0 0
WP CAREY INC COM 92936U109 215 2,660 SH   SOLE   0 0 2,660
UNITED STATES STL CORP NEW COM 912909108 642 17,000 SH   SOLE   17,000 0 0