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
AMERICAN RIVIERA BANCORP COM 02933K103   8,371,593 380,700 SH   DFND 1 0 380,700 0
ATLANTIC UN BANKSHARES CORP COM 04911A107   2,611,460 74,000 SH   DFND 1 0 74,000 0
AXOS FINANCIAL INC COM 05465C100   11,879,950 140,342 SH   DFND 1 0 140,342 0
BEACON FINANCIAL CORP. COM 084680107   2,323,580 98,000 SH   SOLE   98,000 0 0
BEACON FINANCIAL CORP. COM 084680107   9,149,784 385,904 SH   DFND 1 0 385,904 0
BOEING CO COM 097023105   2,525,211 11,700 SH   SOLE   11,700 0 0
C & F FINL CORP COM 12466Q104   1,106,918 16,472 SH   DFND 1 0 16,472 0
CAPITAL BANCORP INC MD COM 139737100   7,377,066 231,256 SH   DFND 1 0 231,256 0
CITIZENS FINL GROUP INC COM 174610105   8,027,532 151,007 SH   DFND 1 0 151,007 0
CITIZENS FINL GROUP INC COM 174610105   2,870,640 54,000 SH   SOLE   54,000 0 0
EAGLE BANCORP INC MD COM 268948106   799,741 39,552 SH   DFND 1 0 39,552 0
FINANCIAL INSTNS INC COM 317585404   11,879,818 436,758 SH   DFND 1 0 436,758 0
FINANCIAL INSTNS INC COM 317585404   3,680,622 135,317 SH   SOLE   135,317 0 0
FVCBANKCORP INC COM 36120Q101   4,781,170 368,633 SH   DFND 1 0 368,633 0
HAWTHORN BANCSHARES INC COM 420476103   10,627,786 342,390 SH   DFND 1 0 342,390 0
INVESCO QQQ TR UNIT SER 1 46090E103   12,007,400 20,000 SH Put SOLE   20,000 0 0
INVESCO QQQ TR UNIT SER 1 46090E103   9,509,260 15,839 SH   SOLE   15,839 0 0
ISHARES TR RUS 2000 VAL ETF 464287630   1,180,737 6,678 SH   SOLE   6,678 0 0
MERIDIAN CORPORATION COM 58958P104   6,425,583 406,940 SH   DFND 1 0 406,940 0
MVB FINL CORP COM 553810102   1,374,666 54,855 SH   DFND 1 0 54,855 0
PARKE BANCORP INC COM 700885106   9,489,047 440,327 SH   DFND 1 0 440,327 0
PFIZER INC COM 717081103   1,783,600 70,000 SH   SOLE   70,000 0 0
ROYAL BK CDA COM 780087102   1,473,200 10,000 SH Put DFND 1 0 10,000 0
SHORE BANCSHARES INC COM 825107105   934,369 56,939 SH   DFND 1 0 56,939 0
THIRD COAST BANCSHARES INC COM 88422P109   6,917,451 182,182 SH   DFND 1 0 182,182 0
TRUIST FINL CORP COM 89832Q109   6,858,000 150,000 SH Call DFND 1 0 150,000 0
TRUIST FINL CORP COM 89832Q109   4,352,544 95,200 SH   SOLE   95,200 0 0
TRUIST FINL CORP COM 89832Q109   10,169,042 222,420 SH   DFND 1 0 222,420 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   9,016,683 14,724 SH   SOLE   14,724 0 0