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
ALLIANCE DATA SYSTEMS CORP COM 018581108 5,600 24,015 SH   SOLE   24,015 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 2,461 22,927 SH   SOLE   22,927 0 0
ARES MGMT LP COM SHS REG INT 04014Y101 4,865 235,000 SH   SOLE   235,000 0 0
BANK AMER CORP COM 060505104 8,696 308,490 SH   SOLE   308,490 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 9,570 209,309 SH   SOLE   209,309 0 0
BANK PRINCETON NEW JERSEY COM 064520109 159 4,774 SH   SOLE   4,774 0 0
BANNER CORP COM NEW 06652V208 383 6,369 SH   SOLE   6,369 0 0
BENEFICIAL BANCORP INC COM 08171T102 1,978 122,075 SH   SOLE   122,075 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 1,244 66,861 SH   SOLE   66,861 0 0
CITIZENS FINL GROUP INC COM 174610105 8,462 217,543 SH   SOLE   217,543 0 0
COBIZ FINANCIAL INC COM 190897108 2,607 121,371 SH   SOLE   121,371 0 0
COMERICA INC COM 200340107 2,091 22,993 SH   SOLE   22,993 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 5,189 84,846 SH   SOLE   84,846 0 0
FB FINL CORP COM 30257X104 6,943 170,512 SH   SOLE   170,512 0 0
FIRST HORIZON NATL CORP COM 320517105 1,033 57,927 SH   SOLE   57,927 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 239 5,661 SH   SOLE   5,661 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 214 8,409 SH   SOLE   8,409 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 2,005 42,977 SH   SOLE   42,977 0 0
HOME BANCSHARES INC COM 436893200 157 6,944 SH   SOLE   6,944 0 0
HOMETRUST BANCSHARES INC COM 437872104 377 13,398 SH   SOLE   13,398 0 0
HOWARD HUGHES CORP COM 44267D107 2,535 19,129 SH   SOLE   19,129 0 0
HUNTINGTON BANCSHARES INC COM 446150104 8,415 570,128 SH   SOLE   570,128 0 0
IBERIABANK CORP COM 450828108 2,162 28,524 SH   SOLE   28,524 0 0
JPMORGAN CHASE & CO COM 46625H100 382 3,669 SH   SOLE   3,669 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 3,150 80,723 SH   SOLE   80,723 0 0
LEVEL ONE BANCORP INC COM 52730D208 1,035 38,070 SH   SOLE   38,070 0 0
MB FINANCIAL INC NEW COM 55264U108 56 1,200 SH   SOLE   1,200 0 0
OLD SECOND BANCORP INC ILL COM 680277100 2,542 176,538 SH   SOLE   176,538 0 0
PACWEST BANCORP DEL COM 695263103 578 11,686 SH   SOLE   11,686 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 2,259 65,301 SH   SOLE   65,301 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 3,145 400,660 SH   SOLE   400,660 0 0
SHORE BANCSHARES INC COM 825107105 800 42,058 SH   SOLE   42,058 0 0
SLM CORP COM 78442P106 5,496 480,000 SH   SOLE   480,000 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 2,137 119,788 SH   SOLE   119,788 0 0
SVB FINL GROUP COM 78486Q101 9,039 31,304 SH   SOLE   31,304 0 0
TCF FINL CORP COM 872275102 2,682 108,929 SH   SOLE   108,929 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1,992 21,766 SH   SOLE   21,766 0 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 5,474 178,472 SH   SOLE   178,472 0 0
UNIVEST CORP PA COM 915271100 57 2,089 SH   SOLE   2,089 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,451 60,953 SH   SOLE   60,953 0 0
WINTRUST FINL CORP COM 97650W108 2,051 23,558 SH   SOLE   23,558 0 0
ZIONS BANCORPORATION COM 989701107 2,425 46,018 SH   SOLE   46,018 0 0