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 8,294 35,122 SH   SOLE   35,122 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 2,544 22,927 SH   SOLE   22,927 0 0
AMERIS BANCORP COM 03076K108 1,465 32,050 SH   SOLE   32,050 0 0
ARES MGMT LP COM SHS REG INT 04014Y101 6,612 285,000 SH   SOLE   285,000 0 0
BANK AMER CORP COM 060505104 9,524 323,281 SH   SOLE   323,281 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 10,748 207,246 SH   SOLE   207,246 0 0
BANK PRINCETON NEW JERSEY COM 064520109 146 4,774 SH   SOLE   4,774 0 0
BANNER CORP COM NEW 06652V208 653 10,504 SH   SOLE   10,504 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 1,339 80,179 SH   SOLE   80,179 0 0
CITIZENS FINL GROUP INC COM 174610105 8,797 228,091 SH   SOLE   228,091 0 0
COBIZ FINANCIAL INC COM 190897108 252 11,371 SH   SOLE   11,371 0 0
FB FINL CORP COM 30257X104 7,061 180,225 SH   SOLE   180,225 0 0
FIFTH THIRD BANCORP COM 316773100 349 12,516 SH   SOLE   12,516 0 0
FIRST HORIZON NATL CORP COM 320517105 1,000 57,927 SH   SOLE   57,927 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 254 5,661 SH   SOLE   5,661 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 428 16,115 SH   SOLE   16,115 0 0
FNB CORP PA COM 302520101 2,462 193,574 SH   SOLE   193,574 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 2,437 51,247 SH   SOLE   51,247 0 0
HOME BANCSHARES INC COM 436893200 13 573 SH   SOLE   573 0 0
HOMETRUST BANCSHARES INC COM 437872104 648 22,215 SH   SOLE   22,215 0 0
HOWARD HUGHES CORP COM 44267D107 3,370 27,129 SH   SOLE   27,129 0 0
HUNTINGTON BANCSHARES INC COM 446150104 8,922 597,963 SH   SOLE   597,963 0 0
IBERIABANK CORP COM 450828108 2,755 33,861 SH   SOLE   33,861 0 0
JPMORGAN CHASE & CO COM 46625H100 414 3,669 SH   SOLE   3,669 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 3,847 90,302 SH   SOLE   90,302 0 0
LEVEL ONE BANCORP INC COM 52730D208 697 25,070 SH   SOLE   25,070 0 0
MERIDIAN BANCORP INC MD COM 58958U103 2,199 129,376 SH   SOLE   129,376 0 0
MORGAN STANLEY COM NEW 617446448 3,726 80,000 SH   SOLE   80,000 0 0
OLD SECOND BANCORP INC ILL COM 680277100 2,993 193,698 SH   SOLE   193,698 0 0
PACWEST BANCORP DEL COM 695263103 521 10,931 SH   SOLE   10,931 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 2,017 65,301 SH   SOLE   65,301 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,776 46,153 SH   SOLE   46,153 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 3,095 432,828 SH   SOLE   432,828 0 0
SHORE BANCSHARES INC COM 825107105 749 42,058 SH   SOLE   42,058 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 21 180 SH   SOLE   180 0 0
SLM CORP COM 78442P106 5,352 480,000 SH   SOLE   480,000 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 2,171 134,012 SH   SOLE   134,012 0 0
STERLING BANCORP DEL COM 85917A100 5,062 230,113 SH   SOLE   230,113 0 0
SVB FINL GROUP COM 78486Q101 10,175 32,735 SH   SOLE   32,735 0 0
TCF FINL CORP COM 872275102 2,995 125,786 SH   SOLE   125,786 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 369 4,466 SH   SOLE   4,466 0 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 5,204 186,605 SH   SOLE   186,605 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,714 65,289 SH   SOLE   65,289 0 0
WINTRUST FINL CORP COM 97650W108 415 4,887 SH   SOLE   4,887 0 0