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
AFC GAMMA INC COM 00109K105 7,560 494,131 SH   SOLE   494,131 0 0
ALLSTATE CORP COM 020002101 13,480 108,245 SH   SOLE   108,245 0 0
A-MARK PRECIOUS METALS INC COM 00181T107 13,017 458,524 SH   SOLE   458,524 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 12,351 100,469 SH   SOLE   100,469 0 0
ARES CAPITAL CORP COM 04010L103 6,666 394,913 SH   SOLE   394,913 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 6,026 312,894 SH   SOLE   312,894 0 0
ASSURED GUARANTY LTD COM G0585R106 26,415 545,196 SH   SOLE   545,196 0 0
BANCO SANTANDER MEXICO SA SPONSORED ADS B 05969B103 4,032 790,645 SH   SOLE   790,645 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 11,813 363,925 SH   SOLE   363,925 0 0
BLACK KNIGHT INC COM 09215C105 9,244 142,807 SH   SOLE   142,807 0 0
COMERICA INC COM 200340107 15,147 213,037 SH   SOLE   213,037 0 0
COREBRIDGE FINL INC COM 21871X109 12,561 637,941 SH   SOLE   637,941 0 0
EAST WEST BANCORP INC COM 27579R104 14,292 212,875 SH   SOLE   212,875 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 9,694 407,645 SH   SOLE   407,645 0 0
EQUITABLE HLDGS INC COM 29452E101 7,497 284,515 SH   SOLE   284,515 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 4,805 119,089 SH   SOLE   119,089 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106 6,733 2,805,595 SH   SOLE   2,805,595 0 0
GALLAGHER ARTHUR J & CO COM 363576109 7,245 42,312 SH   SOLE   42,312 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 10,910 37,229 SH   SOLE   37,229 0 0
ING GROEP N.V. SPONSORED ADR 456837103 15,675 1,844,129 SH   SOLE   1,844,129 0 0
M & T BK CORP COM 55261F104 6,461 36,642 SH   SOLE   36,642 0 0
NU HLDGS LTD ORD SHS CL A G6683N103 5,788 1,315,361 SH   SOLE   1,315,361 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 13,833 212,065 SH   SOLE   212,065 0 0
PROFRAC HLDG CORP CLASS A COM 74319N100 8,892 584,603 SH   SOLE   584,603 0 0
PROGRESSIVE CORP COM 743315103 13,385 115,181 SH   SOLE   115,181 0 0
RBB BANCORP COM 74930B105 1,906 91,710 SH   SOLE   91,710 0 0
THIRD COAST BANCSHARES INC COM 88422P109 4,510 263,583 SH   SOLE   263,583 0 0
TWITTER INC COM 90184L102 6,468 147,538 SH   SOLE   147,538 0 0
UNUM GROUP COM 91529Y106 11,086 285,729 SH   SOLE   285,729 0 0