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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERANT BANCORP INC CL A 023576101   2,553,530 113,946 SH   SOLE   112,853 1,093 0
AMERIS BANCORP COM 03076K108   338,817 5,415 SH   SOLE   2,952 2,463 0
AXOS FINANCIAL INC COM 05465C100   697,662 9,988 SH   SOLE   5,378 4,610 0
BANC OF CALIFORNIA INC COM 05990K106   2,234,743 144,550 SH   SOLE   116,990 27,560 0
BARCLAYS PLC ADR 06738E204   2,279,235 171,500 SH   SOLE   171,500 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105   1,503,579 466,950 SH   SOLE   466,950 0 0
BRIDGEWATER BANCSHARES INC COM 108621103   2,536,516 187,751 SH   SOLE   185,779 1,972 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103   2,584,375 98,116 SH   SOLE   98,116 0 0
BROOKLINE BANCORP INC DEL COM 11373M107   790,128 66,960 SH   SOLE   63,673 3,287 0
BURKE HERBERT FINL SVCS CORP COM 12135Y108   3,751,453 60,158 SH   SOLE   56,445 3,713 0
BXP INC COM 101121101   297,440 4,000 SH   SOLE   4,000 0 0
CALIFORNIA BANCORP COM 84252A106   2,902,968 175,512 SH   SOLE   158,072 17,440 0
CANNAE HLDGS INC COM 13765N107   3,252,850 163,789 SH   SOLE   163,789 0 0
CAPITAL ONE FINL CORP COM 14040H105   3,102,590 17,399 SH   SOLE   14,921 2,478 0
CARTER BANKSHARES INC COM NEW 146103106   3,585,985 203,865 SH   SOLE   185,745 18,120 0
CITIGROUP INC COM NEW 172967424   2,451,965 34,834 SH   SOLE   34,834 0 0
COASTAL FINL CORP WA COM NEW 19046P209   1,711,786 20,160 SH   SOLE   14,163 5,997 0
COCA COLA CONS INC COM 191098102   1,474,188 1,170 SH   SOLE   1,170 0 0
COMERICA INC COM 200340107   1,293,531 20,914 SH   SOLE   16,817 4,097 0
CONNECTONE BANCORP INC COM 20786W107   384,453 16,781 SH   SOLE   15,517 1,264 0
COREBRIDGE FINL INC COM 21871X109   748,250 25,000 SH   SOLE   25,000 0 0
DESIGNER BRANDS INC CL A 250565108   517,980 97,000 SH   SOLE   97,000 0 0
DIME CMNTY BANCSHARES INC COM 25432X102   3,050,879 99,264 SH   SOLE   99,264 0 0
ELLINGTON FINANCIAL INC COM 28852N109   181,800 15,000 SH   SOLE   15,000 0 0
ENCORE CAP GROUP INC COM 292554102   1,996,499 41,794 SH   SOLE   41,794 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   195,900 10,000 SH   SOLE   10,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105   2,385,156 42,290 SH   SOLE   38,418 3,872 0
EOG RES INC COM 26875P101   514,836 4,200 SH   SOLE   4,200 0 0
EQUITABLE HLDGS INC COM 29452E101   1,439,393 30,515 SH   SOLE   30,515 0 0
EQUITY BANCSHARES INC COM CL A 29460X109   1,060,500 25,000 SH   SOLE   25,000 0 0
F N B CORP COM 302520101   1,243,161 84,111 SH   SOLE   84,111 0 0
FINANCIAL INSTNS INC COM 317585404   3,375,527 123,691 SH   SOLE   123,691 0 0
FIRST BANCSHARES INC MISS COM 318916103   3,440,570 98,302 SH   SOLE   94,051 4,251 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   4,086,581 1,934 SH   SOLE   1,602 332 0
FIRST FNDTN INC COM 32026V104   1,075,361 173,166 SH   SOLE   173,166 0 0
FIRST HORIZON CORPORATION COM 320517105   5,861,787 291,052 SH   SOLE   264,135 26,917 0
FIRST MERCHANTS CORP COM 320817109   464,200 11,637 SH   SOLE   6,280 5,357 0
FIRST UTD CORP COM 33741H107   1,217,032 36,103 SH   SOLE   36,103 0 0
FIRSTSUN CAP BANCORP COM 33767U107   2,193,418 54,767 SH   SOLE   54,767 0 0
FIVE STAR BANCORP COM 33830T103   2,728,772 90,687 SH   SOLE   84,616 6,071 0
FULTON FINL CORP PA COM 360271100   424,603 22,023 SH   SOLE   11,962 10,061 0
GENWORTH FINL INC COM SHS 37247D106   3,919,992 560,800 SH   SOLE   560,800 0 0
HERITAGE COMM CORP COM 426927109   2,625,546 279,909 SH   SOLE   277,022 2,887 0
HERITAGE FINL CORP WASH COM 42722X106   367,206 14,988 SH   SOLE   13,322 1,666 0
HILLTOP HOLDINGS INC COM 432748101   612,682 21,400 SH   SOLE   21,400 0 0
HOMESTREET INC COM 43785V102   565,701 49,536 SH   SOLE   49,536 0 0
HOMETRUST BANCSHARES INC COM 437872104   3,390,532 100,669 SH   SOLE   94,304 6,365 0
HORIZON BANCORP INC COM 440407104   1,469,844 91,238 SH   SOLE   83,680 7,558 0
LINKBANCORP INC COM 53578P105   978,429 130,806 SH   SOLE   130,806 0 0
LYFT INC CL A COM 55087P104   129,000 10,000 SH   SOLE   10,000 0 0
METROPOLITAN BK HLDG CORP COM 591774104   292,000 5,000 SH   SOLE   5,000 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103   3,138,495 107,778 SH   SOLE   107,152 626 0
NB BANCORP INC COM 63945M107   805,873 44,622 SH   SOLE   24,434 20,188 0
NORWOOD FINANCIAL CORP COM 669549107   2,124,030 78,075 SH   SOLE   78,075 0 0
NVIDIA CORPORATION COM 67066G104   268,580 2,000 SH   SOLE   2,000 0 0
OCEANFIRST FINL CORP COM 675234108   278,070 15,363 SH   SOLE   14,208 1,155 0
OLD NATL BANCORP IND COM 680033107   2,152,116 99,153 SH   SOLE   99,153 0 0
OLD SECOND BANCORP INC ILL COM 680277100   2,182,851 122,770 SH   SOLE   105,957 16,813 0
ONESPAN INC COM 68287N100   2,307,210 124,445 SH   SOLE   124,445 0 0
OPPENHEIMER HLDGS INC CL A NON VTG 683797104   2,563,600 40,000 SH   SOLE   40,000 0 0
ORIGIN BANCORP INC COM 68621T102   312,793 9,396 SH   SOLE   8,688 708 0
PAMT CORP COM 693149106   245,700 15,000 SH   SOLE   15,000 0 0
PACIFIC PREMIER BANCORP COM 69478X105   980,004 39,326 SH   SOLE   34,386 4,940 0
PEABODY ENERGY CORP COM 704551100   314,100 15,000 SH   SOLE   15,000 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104   542,666 4,744 SH   SOLE   2,492 2,252 0
POPULAR INC COM NEW 733174700   870,619 9,256 SH   SOLE   5,034 4,222 0
PREMIER FINANCIAL CORP COM 74052F108   3,475,091 135,905 SH   SOLE   127,430 8,475 0
PROLOGIS INC. COM 74340W103   211,400 2,000 SH   SOLE   2,000 0 0
PROVIDENT FINL SVCS INC COM 74386T105   2,774,041 147,008 SH   SOLE   130,514 16,494 0
RED ROCK RESORTS INC CL A 75700L108   497,311 10,755 SH   SOLE   10,755 0 0
RITHM CAPITAL CORP COM NEW 64828T201   1,292,875 119,379 SH   SOLE   119,379 0 0
RLJ LODGING TR COM 74965L101   102,100 10,000 SH   SOLE   10,000 0 0
SLM CORP COM 78442P106   1,387,357 50,303 SH   SOLE   50,303 0 0
SOUTHERN STS BANCSHARES INC COM 843878307   844,342 25,348 SH   SOLE   25,348 0 0
SPDR SER TR S&P REGL BKG 78464A698   3,431,079 56,853 SH   SOLE   0 56,853 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107   852,902 20,040 SH   SOLE   20,040 0 0
STELLAR BANCORP INC COM 858927106   283,982 10,017 SH   SOLE   9,015 1,002 0
SURO CAPITAL CORP COM NEW 86887Q109   427,541 72,711 SH   SOLE   72,711 0 0
SYNOVUS FINL CORP COM NEW 87161C501   792,784 15,475 SH   SOLE   9,864 5,611 0
THE ODP CORP COM 88337F105   545,760 24,000 SH   SOLE   24,000 0 0
THIRD COAST BANCSHARES INC COM 88422P109   514,003 15,140 SH   SOLE   8,239 6,901 0
TRINITY CAP INC COM 896442308   144,700 10,000 SH   SOLE   10,000 0 0
VALLEY NATL BANCORP COM 919794107   5,346,804 590,155 SH   SOLE   586,077 4,078 0
VERITEX HLDGS INC COM 923451108   3,513,689 129,370 SH   SOLE   116,322 13,048 0
WASHINGTON TR BANCORP INC COM 940610108   2,751,621 87,771 SH   SOLE   87,771 0 0
WESBANCO INC COM 950810101   2,372,622 72,914 SH   SOLE   72,914 0 0
WEST FRASER TIMBER CO LTD COM 952845105   675,090 7,800 SH   SOLE   7,800 0 0
WESTERN ALLIANCE BANCORP COM 957638109   508,341 6,085 SH   SOLE   3,283 2,802 0
WESTERN NEW ENG BANCORP INC COM 958892101   552,000 60,000 SH   SOLE   60,000 0 0
WINTRUST FINL CORP COM 97650W108   971,491 7,790 SH   SOLE   4,222 3,568 0