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
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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
BANC OF CALIFORNIA INC COM 05990K106 19,941 1,020,000 SH   SOLE   1,020,000 0 0
BANCORP INC DEL COM 05969A105 27,399 2,619,450 SH   SOLE   2,619,450 0 0
BANK AMER CORP *W EXP 01/16/201 060505146 9,001 551,523 SH   SOLE   551,523 0 0
CAPITAL ONE FINL CORP COM 14040H105 9,273 100,900 SH   SOLE   100,900 0 0
CONSUMER PORTFOLIO SVCS INC COM 210502100 8,467 2,080,474 SH   SOLE   2,080,474 0 0
CURO GROUP HOLDINGS CORP COM 23131l107 1,622 65,000 SH   SOLE   65,000 0 0
ENCORE CAP GROUP INC COM 292554102 11,712 320,000 SH   SOLE   320,000 0 0
LIVE OAK BANCSHARES INC COM 53803X105 1,416 46,200 SH   SOLE   46,200 0 0
LYON WILLIAM HOMES COM 552074700 22,488 969,326 SH   SOLE   969,326 0 0
MEDALLION FINL CORP COM 583928106 2,932 535,000 SH   SOLE   535,000 0 0
META FINL GROUP INC COM 59100U108 29,038 298,132 SH   SOLE   298,132 0 0
NEW HOME CO INC COM 645370107 20,379 2,044,059 SH   SOLE   2,044,059 0 0
ONEMAIN HLDGS INC COM 68268W103 23,316 700,403 SH   SOLE   700,403 0 0
REGIONAL MGMT CORP COM 75902K106 21,032 600,558 SH   SOLE   600,558 0 0
STERLING BANCORP DEL COM 85917A100 4,988 212,200 SH   SOLE   212,200 0 0
TRISTATE CAP HLDGS INC COM 89678F100 26,525 1,016,278 SH   SOLE   1,016,278 0 0
TRITON INTL LTD COM G9078F107 14,932 487,008 SH   SOLE   487,008 0 0
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 5,415 266,752 SH   SOLE   266,752 0 0