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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNC INVT COM 00123Q104   2,017,008 200,100 SH   SOLE   200,100 0 0
AMERIS BANCORP COM 03076K108   4,334,620 118,497 SH   SOLE   118,497 0 0
ANNALY CAPITAL MANAGEMENT COM NEW 035710839   1,911,000 100,000 SH   SOLE   100,000 0 0
BANC OF CALIFORNIA COM 05990K106   42,623,539 3,401,719 SH   SOLE   3,401,719 0 0
CF BANKSHARES COM 12520L109   727,175 37,291 SH   SOLE   37,291 0 0
CITIZENS FINL GROUP COM 174610105   4,906,365 161,553 SH   SOLE   161,553 0 0
CODORUS VY BANCORP COM 192025104   1,629,954 78,552 SH   SOLE   78,552 0 0
COMERICA COM 200340107   3,868,722 89,100 SH   SOLE   89,100 0 0
COMMUNITY WEST BANCSHARES COM 204157101   7,995,749 632,075 SH   SOLE   632,075 0 0
ENTERPRISE FINL SVCS COM 293712105   35,129,295 787,829 SH   SOLE   787,829 0 0
EVANS BANCORP COM NEW 29911Q208   17,911,929 533,649 SH   SOLE   533,649 0 0
F N B COM 302520101   21,097,674 1,818,765 SH   SOLE   1,818,765 0 0
FIFTH THIRD BANCORP COM 316773100   5,329,998 200,075 SH   SOLE   200,075 0 0
FINANCIAL INSTNS COM 317585404   4,411,264 228,800 SH   SOLE   228,800 0 0
FINWARD BANCORP COM 31812F109   2,887,506 99,227 SH   SOLE   99,227 0 0
FIRST INTERNET BANCORP COM 320557101   299,700 18,000 SH   SOLE   18,000 0 0
FIRST MERCHANTS COM 320817109   25,151,822 763,333 SH   SOLE   763,333 0 0
HARBORONE BANCORP INC. COM NEW 41165Y100   366,000 30,000 SH   SOLE   30,000 0 0
HAWTHORN BANCSHARES COM 420476103   8,308,597 355,448 SH   SOLE   355,448 0 0
HORIZON BANCORP COM 440407104   17,739,621 1,603,944 SH   SOLE   1,603,944 0 0
INDEPENDENT BK MICH COM 453838609   6,396,933 359,985 SH   SOLE   359,985 0 0
INVESCO MORTGAGE CAPITAL COM 46131B704   4,275,128 385,494 SH   SOLE   385,494 0 0
KEYCORP COM 493267108   676,080 54,000 SH   SOLE   54,000 0 0
LAKELAND BANCORP COM 511637100   3,206,200 205,000 SH   SOLE   205,000 0 0
LUMENT FINANCE TRUST COM 55025L108   3,184,566 1,576,518 SH   SOLE   1,576,518 0 0
MAGYAR BANCORP COM 55977T208   2,846,704 268,557 SH   SOLE   268,557 0 0
MALVERN BANCORP COM 561409103   11,456,437 753,961 SH   SOLE   753,961 0 0
MERCHANTS BANCORP IND COM 58844R108   5,593,236 214,794 SH   SOLE   214,794 0 0
MIDLAND STATES BANCORP INC COM 597742105   342,720 16,000 SH   SOLE   16,000 0 0
NEW YORK CMNTY BANCORP COM 649445103   7,232,000 800,000 SH   SOLE   800,000 0 0
OLD POINT FINL COM 680194107   14,887,107 625,246 SH   SOLE   625,246 0 0
PRIMIS FINANCIAL COM 74167B109   5,212,324 541,259 SH   SOLE   541,259 0 0
SB FINL GROUP COM 78408D105   354,310 25,075 SH   SOLE   25,075 0 0
SCHWAB CHARLES CORP PUT 808513955   605,000 5,000 SH Put SOLE   5,000 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104   6,716 36,700 SH   SOLE   36,700 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101   399,100 13,000 SH   SOLE   13,000 0 0
SYNCHRONY FINANCIAL COM 87165B103   7,520,088 258,600 SH   SOLE   258,600 0 0
VALLEY NATIONAL BANCORP COM 919794107   443,520 48,000 SH   SOLE   48,000 0 0
WINTRUST FINL COM 97650W108   255,325 3,500 SH   SOLE   3,500 0 0
ZIONS BANCORPORATION N A COM 989701107   598,600 20,000 SH   SOLE   20,000 0 0