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
AERCAP HOLDINGS NV SHS N00985106 18,038 387,580 SH   DFND 1 387,580 0 0
AERCAP HOLDINGS NV SHS N00985106 6,353 136,500 SH   SOLE   136,500 0 0
AMERIS BANCORP COM 03076K108 23,454 682,786 SH   DFND 1 682,786 0 0
ATHENE HLDG LTD CL A G0684D107 26,317 645,026 SH   DFND 1 645,026 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 12,348 453,313 SH   DFND 1 453,313 0 0
BGC PARTNERS INC CL A 05541T101 4,135 778,726 SH   DFND 1 778,726 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 4,260 173,589 SH   DFND 1 173,589 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 9,285 378,371 SH   SOLE   378,371 0 0
CAROLINA FINL CORP NEW COM 143873107 10,386 300,271 SH   DFND 1 300,271 0 0
CENTERSTATE BK CORP COM 15201P109 13,113 550,726 SH   DFND 1 550,726 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 705 36,060 SH   DFND 1 36,060 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 9,883 135,382 SH   DFND 1 135,382 0 0
CHERRY HILL MTG INVT CORP COM 164651101 1,722 100,000 SH   DFND 1 100,000 0 0
CIT GROUP INC COM NEW 125581801 24,585 512,500 SH   DFND 1 512,500 0 0
CIT GROUP INC COM NEW 125581801 4,797 100,000 SH   SOLE   100,000 0 0
CITIZENS FINL GROUP INC COM 174610105 18,281 562,500 SH   DFND 1 562,500 0 0
COMERICA INC COM 200340107 23,829 325,000 SH   DFND 1 325,000 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 2,055 104,321 SH   DFND 1 104,321 0 0
COREPOINT LODGING INC COM 21872L104 5,585 500,000 SH   DFND 1 500,000 0 0
EAGLE BANCORP MONT INC COM 26942G100 3,738 220,646 SH   DFND 1 220,646 0 0
FB FINL CORP COM 30257X104 6,596 207,684 SH   DFND 1 207,684 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 1,400 38,297 SH   DFND 1 38,297 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 4,869 177,767 SH   DFND 1 177,767 0 0
FIRST BANCORP P R COM NEW 318672706 2,922 255,000 SH   DFND 1 255,000 0 0
FIRST BANCSHARES INC MS COM 318916103 5,272 170,624 SH   DFND 1 170,624 0 0
FIRST BANCSHARES INC MS COM 318916103 12,342 399,406 SH   SOLE   399,406 0 0
FIRST FINL BANCORP OH COM 320209109 10,395 432,055 SH   DFND 1 432,055 0 0
FIRST MID ILL BANCSHARES INC COM 320866106 2,806 84,211 SH   DFND 1 84,211 0 0
GREAT WESTN BANCORP INC COM 391416104 8,371 264,986 SH   DFND 1 264,986 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 21,140 523,278 SH   DFND 1 523,278 0 0
HOME BANCORP INC COM 43689E107 10,147 305,186 SH   DFND 1 305,186 0 0
HORIZON BANCORP INC COM 440407104 4,188 260,295 SH   DFND 1 260,295 0 0
HORIZON BANCORP INC COM 440407104 3,487 216,730 SH   SOLE   216,730 0 0
IBERIABANK CORP COM 450828108 6,275 87,500 SH   DFND 1 87,500 0 0
LADDER CAP CORP CL A 505743104 2,597 152,600 SH   DFND 1 152,600 0 0
LOEWS CORP COM 540424108 8,388 175,000 SH   DFND 1 175,000 0 0
MACKINAC FINL CORP COM 554571109 8,186 520,106 SH   DFND 1 520,106 0 0
MEDLEY MGMT INC CL A COM 58503T106 2,163 630,577 SH   DFND 1 630,577 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 5,862 243,656 SH   DFND 1 243,656 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 1,760 73,162 SH   SOLE   73,162 0 0
MIDSOUTH BANCORP INC COM 598039105 8,924 782,090 SH   DFND 1 782,090 0 0
MIDSOUTH BANCORP INC COM 598039105 4,386 384,367 SH   SOLE   384,367 0 0
NATIONAL COMM CORP COM 63546L102 4,901 125,000 SH   DFND 1 125,000 0 0
NEWMARK GROUP INC CL A 65158N102 2,215 265,602 SH   DFND 1 265,602 0 0
OAKTREE SPECIALTY LENDING CO COM 67401P108 5,310 1,025,000 SH   DFND 1 1,025,000 0 0
POPULAR INC COM NEW 733174700 18,240 349,900 SH   DFND 1 349,900 0 0
QCR HOLDINGS INC COM 74727A104 7,789 229,616 SH   DFND 1 229,616 0 0
QCR HOLDINGS INC COM 74727A104 4,177 123,140 SH   SOLE   123,140 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 10,314 488,103 SH   DFND 1 488,103 0 0
SB FINL GROUP INC COM 78408D105 2,643 146,667 SH   DFND 1 146,667 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 7,049 208,794 SH   DFND 1 208,794 0 0
SI FINL GROUP INC MD COM 78425V104 2,646 204,957 SH   DFND 1 204,957 0 0
SOUTHERN MO BANCORP INC COM 843380106 9,587 311,263 SH   DFND 1 311,263 0 0
SOUTHERN MO BANCORP INC COM 843380106 7,291 236,720 SH   SOLE   236,720 0 0
STEWARDSHIP FINL CORP COM 860326107 4,185 452,425 SH   SOLE   452,425 0 0
SYNOVUS FINL CORP COM NEW 87161C501 15,462 450,000 SH   DFND 1 450,000 0 0
TCF FINL CORP COM 872275102 12,950 625,900 SH   DFND 1 625,900 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 2,036 37,300 SH   DFND 1 37,300 0 0
TRIUMPH BANCORP INC COM 89679E300 2,767 94,142 SH   DFND 1 94,142 0 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 14,023 562,500 SH   DFND 1 562,500 0 0
WALKER & DUNLOP INC COM 93148P102 566 11,126 SH   DFND 1 11,126 0 0
WINTRUST FINL CORP COM 97650W108 5,969 88,658 SH   DFND 1 88,658 0 0