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      </invstOrSec>
      <invstOrSec>
        <name>B RILEY FINANCIAL INC</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>B Riley Financial Inc</title>
        <cusip>05580M850</cusip>
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          <isin value="US05580M8507"/>
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        <balance>27310</balance>
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        <curCd>USD</curCd>
        <valUSD>140646.5</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANC OF CALIFORNIA INC</name>
        <lei>549300ZKWUJDP6LJ1X87</lei>
        <title>Banc of California Inc</title>
        <cusip>05990KAD8</cusip>
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          <isin value="US05990KAD81"/>
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        <balance>1425000</balance>
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        <curCd>USD</curCd>
        <valUSD>1419700.27</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.04883</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GLE7</cusip>
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          <isin value="US06051GLE79"/>
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        <balance>4500000</balance>
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        <curCd>USD</curCd>
        <valUSD>4506738.44</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <maturityDt>2027-01-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.08</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GLU1</cusip>
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          <isin value="US06051GLU12"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1608428.93</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.872</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLUMBIA BANKING SYSTEM</name>
        <lei>254900CTRJTQZ3BJ2V17</lei>
        <title>Columbia Banking System Inc</title>
        <cusip>061591AA1</cusip>
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          <isin value="US061591AA13"/>
          <ticker value="BOCH"/>
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        <balance>6500000</balance>
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        <curCd>USD</curCd>
        <valUSD>6494962.96</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-10</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NY MELLON CORP</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The</title>
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          <isin value="US06406RBW60"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6183016.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.188</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANKGUAM HOLDING CO</name>
        <lei>549300UZSAYMXQIF8W75</lei>
        <title>BankGuam Holding Co</title>
        <cusip>06644AAA4</cusip>
        <identifiers>
          <isin value="US06644AAA43"/>
          <ticker value="BKGMF"/>
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        <balance>9000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8925535.35</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.95942</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANKGUAM HOLDING CO</name>
        <lei>549300UZSAYMXQIF8W75</lei>
        <title>BankGuam Holding Co</title>
        <cusip>06644AAB2</cusip>
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          <isin value="US06644AAB26"/>
          <other otherDesc="USER DEFINED" value="06644AAB2"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2891683.11</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank7 Corp</name>
        <lei>N/A</lei>
        <title>Bank7 Corp</title>
        <cusip>06652N107</cusip>
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          <isin value="US06652N1072"/>
          <ticker value="BSVN"/>
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        <balance>10000</balance>
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        <curCd>USD</curCd>
        <valUSD>415100</valUSD>
        <pctVal>0.0892352185</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANKSOUTH HOLDING CO</name>
        <lei>549300GRHKUMUEGB7822</lei>
        <title>Banksouth Holding Co</title>
        <cusip>06654GAC4</cusip>
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          <isin value="US06654GAC42"/>
          <ticker value="BNKSOU"/>
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        <balance>2600000</balance>
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        <curCd>USD</curCd>
        <valUSD>2564578.72</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-30</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANTERRA BANK</name>
        <lei>549300NGCDNC9174EF79</lei>
        <title>Banterra Bank</title>
        <cusip>06682YAB3</cusip>
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          <isin value="US06682YAB39"/>
          <ticker value="BANTBK"/>
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        <balance>7500000</balance>
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        <curCd>USD</curCd>
        <valUSD>7379689.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.97372</annualizedRt>
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      <invstOrSec>
        <name>BANTERRA CORP</name>
        <lei>549300QNH1CG2ZGLWQ76</lei>
        <title>Banterra Corp</title>
        <cusip>06683WAA8</cusip>
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        <curCd>USD</curCd>
        <valUSD>1243953.5</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BAR HARBOR BANKSHARES</name>
        <lei>N/A</lei>
        <title>Bar Harbor Bankshares</title>
        <cusip>066849AC4</cusip>
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          <isin value="US066849AC44"/>
          <ticker value="BHB"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2974828.17</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.44106</annualizedRt>
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      <invstOrSec>
        <name>BAYFIRST FINANCIAL CORP</name>
        <lei>549300EG3HIQSTDIRQ72</lei>
        <title>Bayfirst Financial Corp</title>
        <cusip>07279BAA2</cusip>
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        <curCd>USD</curCd>
        <valUSD>944392.18</valUSD>
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        <assetCat>SN</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2031-06-30</maturityDt>
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          <annualizedRt>4.5</annualizedRt>
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        <name>BEACON FINANCIAL CORP</name>
        <lei>549300AS2OC6UMMBNO37</lei>
        <title>Beacon Financial Corp</title>
        <cusip>084680AB3</cusip>
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          <isin value="US084680AB32"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1398193.28</valUSD>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.5</annualizedRt>
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        <name>BRIDGEWATER BANCSHARES</name>
        <lei>5493001FLSBTVILKXZ71</lei>
        <title>Bridgewater Bancshares Inc</title>
        <cusip>108621AP8</cusip>
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          <isin value="US108621AP84"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4110096.08</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2035-06-30</maturityDt>
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      <invstOrSec>
        <name>CB&amp;T HOLDING CORP</name>
        <lei>549300QX35T737FJFZ97</lei>
        <title>CB&amp;T Holding Corp</title>
        <cusip>124782AC7</cusip>
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          <isin value="US124782AC73"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5073662.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>CB FINANCIAL SERVICES</name>
        <lei>549300JEGYKCDOBSG664</lei>
        <title>CB Financial Services Inc</title>
        <cusip>12479GAA9</cusip>
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          <isin value="US12479GAA94"/>
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        <balance>5500000</balance>
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        <curCd>USD</curCd>
        <valUSD>5068865.67</valUSD>
        <pctVal>1.0896683587</pctVal>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CRB GROUP INC</name>
        <lei>549300BLONX7RHTYWF68</lei>
        <title>CRB Group Inc</title>
        <cusip>12634QAJ0</cusip>
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          <isin value="US12634QAJ04"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1991610.36</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>10.55106</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp</title>
        <cusip>14040HDJ1</cusip>
        <identifiers>
          <isin value="US14040HDJ14"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1042527.65</valUSD>
        <pctVal>0.2241151112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.183</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARRINGTON HOLDING CO LL</name>
        <lei>635400MJJEAT2FUN2F71</lei>
        <title>Carrington Holding Co LLC</title>
        <cusip>144523AG2</cusip>
        <identifiers>
          <isin value="US144523AG22"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1509872.22</valUSD>
        <pctVal>0.3245814924</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CENTRAL BANCSHARES INC</name>
        <lei>549300N48082XGYJQJ37</lei>
        <title>Central Bancshares Inc/TX</title>
        <cusip>152424AA5</cusip>
        <identifiers>
          <isin value="US152424AA54"/>
          <ticker value="CBSI"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4846333.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.13311</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CENTRAL PACIFIC FIN CORP</name>
        <lei>549300W3YEAOZ4KGG849</lei>
        <title>Central Pacific Financial Corp</title>
        <cusip>154760AC6</cusip>
        <identifiers>
          <isin value="US154760AC68"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000</valUSD>
        <pctVal>0.2149728223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHEMUNG FINANCIAL CORP</name>
        <lei>N/A</lei>
        <title>Chemung Financial Corp</title>
        <cusip>164024AA9</cusip>
        <identifiers>
          <isin value="US164024AA95"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2064766.22</valUSD>
        <pctVal>0.4438686216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.75</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967424</cusip>
        <identifiers>
          <isin value="US1729674242"/>
          <ticker value="C"/>
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        <balance>11000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1113530</valUSD>
        <pctVal>0.2393786868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIZENS BANCSHARES INC</name>
        <lei>549300S4QELDLIZXPE82</lei>
        <title>Citizens Bancshares of Batesville Inc</title>
        <cusip>173167AC1</cusip>
        <identifiers>
          <isin value="US173167AC18"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2502540.33</valUSD>
        <pctVal>0.5379781575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>Citibank NA</title>
        <cusip>17325FBQ0</cusip>
        <identifiers>
          <isin value="US17325FBQ00"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2014842.42</valUSD>
        <pctVal>0.4331363614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.09877</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
        <cusip>174610BH7</cusip>
        <identifiers>
          <isin value="US174610BH70"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6262887.72</valUSD>
        <pctVal>1.3463506486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.718</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CITIZENS COMM BANC WI</name>
        <lei>549300VKLJAF4WABEF16</lei>
        <title>Citizens Community Bancorp Inc/WI</title>
        <cusip>174903AD6</cusip>
        <identifiers>
          <isin value="US174903AD63"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1421865.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLEAR BLUE FIN HLDGS</name>
        <lei>N/A</lei>
        <title>Clear Blue Financial Holdings LLC</title>
        <cusip>18452FAB7</cusip>
        <identifiers>
          <isin value="US18452FAB76"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9459020</valUSD>
        <pctVal>2.0334322251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLEAR STREET HOLDINGS</name>
        <lei>254900NQWA30C6L3G919</lei>
        <title>Clear Street Holdings LLC</title>
        <cusip>18469LAC3</cusip>
        <identifiers>
          <isin value="US18469LAC37"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4016172.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLEAR STREET HOLDINGS</name>
        <lei>254900NQWA30C6L3G919</lei>
        <title>Clear Street Holdings LLC</title>
        <cusip>18469LAE9</cusip>
        <identifiers>
          <isin value="US18469LAE92"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4986764.75</valUSD>
        <pctVal>1.0720188922</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLIMATE FIRST BANC INC</name>
        <lei>N/A</lei>
        <title>Climate First Bancorp Inc</title>
        <cusip>18717AAA1</cusip>
        <identifiers>
          <isin value="US18717AAA16"/>
          <ticker value="CLFBNK"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4000000</valUSD>
        <pctVal>0.8598912890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLONY BANKCORP INC</name>
        <lei>N/A</lei>
        <title>Colony Bankcorp Inc</title>
        <cusip>19623PAA9</cusip>
        <identifiers>
          <isin value="US19623PAA93"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>911442</valUSD>
        <pctVal>0.1959352591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Columbia Banking System Inc</name>
        <lei>254900CTRJTQZ3BJ2V17</lei>
        <title>Columbia Banking System Inc</title>
        <cusip>197236102</cusip>
        <identifiers>
          <isin value="US1972361026"/>
          <ticker value="COLB"/>
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        <balance>25000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>670000</valUSD>
        <pctVal>0.1440317909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMMERCIAL CREDIT INC</name>
        <lei>N/A</lei>
        <title>Commercial Credit Inc</title>
        <cusip>201616AA7</cusip>
        <identifiers>
          <isin value="US201616AA73"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2508012.55</valUSD>
        <pctVal>0.5391545361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHORE BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>Shore Bancshares Inc</title>
        <cusip>20368XAD3</cusip>
        <identifiers>
          <isin value="US20368XAD30"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>985544.57</valUSD>
        <pctVal>0.2118652977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.47363</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORBRIGHT INC</name>
        <lei>549300F86ZI0BZ1LVN33</lei>
        <title>Forbright Inc</title>
        <cusip>20727PAE4</cusip>
        <identifiers>
          <isin value="US20727PAE43"/>
          <ticker value="CGLBNC"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1962272.02</valUSD>
        <pctVal>0.4218351542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.56106</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONNECTONE BANCORP INC</name>
        <lei>549300E2M5ZYAZKUK134</lei>
        <title>ConnectOne Bancorp Inc</title>
        <cusip>20786WAF4</cusip>
        <identifiers>
          <isin value="US20786WAF41"/>
        </identifiers>
        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4180000</valUSD>
        <pctVal>0.8985863970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CUSTOMERS BANCORP INC</name>
        <lei>549300WLBCHYKZ53FN68</lei>
        <title>Customers Bancorp Inc</title>
        <cusip>23204GAG5</cusip>
        <identifiers>
          <isin value="US23204GAG55"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>909272.02</valUSD>
        <pctVal>0.1954687723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CUSTOMERS BANK</name>
        <lei>6UHRKD73G36IZYN3FC43</lei>
        <title>Customers Bank</title>
        <cusip>23204HBM9</cusip>
        <identifiers>
          <isin value="US23204HBM97"/>
        </identifiers>
        <balance>4500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4488327</valUSD>
        <pctVal>0.9648683224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.70301</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARE</name>
        <lei>N/A</lei>
        <title>Dime Community Bancshares Inc</title>
        <cusip>25432X201</cusip>
        <identifiers>
          <isin value="US25432X2018"/>
          <ticker value="DCOM"/>
        </identifiers>
        <balance>25000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>476750</valUSD>
        <pctVal>0.1024882930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARE</name>
        <lei>N/A</lei>
        <title>Dime Community Bancshares Inc</title>
        <cusip>25432XAA0</cusip>
        <identifiers>
          <isin value="US25432XAA00"/>
        </identifiers>
        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1200009.4</valUSD>
        <pctVal>0.2579694074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EF HOLD/EF KY/ELL KY/TRS</name>
        <lei>N/A</lei>
        <title>EF Holdco / EF Cayman Hold / Ellington Fin REIT Cayman/TRS / EF Cayman Non-MTM</title>
        <cusip>26845AAA9</cusip>
        <identifiers>
          <isin value="US26845AAA97"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4809613.6</valUSD>
        <pctVal>1.0339362095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EAGLE BANCORP INC</name>
        <lei>549300B47NZODRMG3D47</lei>
        <title>Eagle Bancorp Inc</title>
        <cusip>268948AE6</cusip>
        <identifiers>
          <isin value="US268948AE69"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2597455.33</valUSD>
        <pctVal>0.5583823030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>East West Bancorp Inc</name>
        <lei>254900O4X656YXFOYB11</lei>
        <title>East West Bancorp Inc</title>
        <cusip>27579R104</cusip>
        <identifiers>
          <isin value="US27579R1041"/>
          <ticker value="EWBC"/>
        </identifiers>
        <balance>3500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>355600</valUSD>
        <pctVal>0.0764443356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ellington Financial Inc</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc</title>
        <cusip>28852N109</cusip>
        <identifiers>
          <isin value="US28852N1090"/>
          <ticker value="EFC"/>
        </identifiers>
        <balance>15750</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>209790</valUSD>
        <pctVal>0.0450991484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELLINGTON FINANCIAL</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc</title>
        <cusip>28852N208</cusip>
        <identifiers>
          <isin value="US28852N2080"/>
          <ticker value="EFC"/>
        </identifiers>
        <balance>20000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>505000</valUSD>
        <pctVal>0.1085612752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELLINGTON FINANCIAL</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc</title>
        <cusip>28852N307</cusip>
        <identifiers>
          <isin value="US28852N3070"/>
          <ticker value="EFC"/>
        </identifiers>
        <balance>80000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1880000</valUSD>
        <pctVal>0.4041489058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUITY BANCSHARES INC</name>
        <lei>549300BPQ2EJNU4WF694</lei>
        <title>Equity Bancshares Inc</title>
        <cusip>29460XAJ8</cusip>
        <identifiers>
          <isin value="US29460XAJ81"/>
        </identifiers>
        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4071431.44</valUSD>
        <pctVal>0.8752471073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVERBANK FINANCIAL CORP</name>
        <lei>549300ZSQX8IP0RAE826</lei>
        <title>EverBank Financial Corp</title>
        <cusip>29977GAC6</cusip>
        <identifiers>
          <isin value="US29977GAC69"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5145754.65</valUSD>
        <pctVal>1.1061973997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVERBANK FINANCIAL CORP</name>
        <lei>549300ZSQX8IP0RAE826</lei>
        <title>EverBank Financial Corp</title>
        <cusip>29977GAE2</cusip>
        <identifiers>
          <isin value="US29977GAE26"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2056735.36</valUSD>
        <pctVal>0.4421422050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNB CORP</name>
        <lei>PCYSKIGYNYFDTBLVZU83</lei>
        <title>FNB Corp/PA</title>
        <cusip>302520AD3</cusip>
        <identifiers>
          <isin value="US302520AD30"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5101362.3</valUSD>
        <pctVal>1.0966542510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.722</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNB CORP</name>
        <lei>PCYSKIGYNYFDTBLVZU83</lei>
        <title>FNB Corp/PA</title>
        <cusip>30259JAA1</cusip>
        <identifiers>
          <isin value="US30259JAA16"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597921.58</valUSD>
        <pctVal>0.1285368895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.89451</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;M FINANCIAL CORP</name>
        <lei>549300TRY3LFAOVSVM27</lei>
        <title>F&amp;M Financial Corp/TN</title>
        <cusip>30311RAC5</cusip>
        <identifiers>
          <isin value="US30311RAC51"/>
        </identifiers>
        <balance>4500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4638611.79</valUSD>
        <pctVal>0.9971754678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FEDNAT HOLDING CO</name>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>FedNat Holding Co</title>
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            <currencyInfo convRatio="166.6667" curCd="USD"/>
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        <securityLending>
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      <invstOrSec>
        <name>FIDELITY FEDERAL BANCORP</name>
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          <isin value="US315921AJ56"/>
          <ticker value="FDLB"/>
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      <invstOrSec>
        <name>FIDELITY FEDERAL BANCORP</name>
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          <isin value="US315921AL03"/>
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        <debtSec>
          <maturityDt>2031-03-30</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIDELITY FINANCIAL CORP</name>
        <lei>549300MH8LY2P6Y7NV11</lei>
        <title>Fidelity Financial Corp</title>
        <cusip>316144AC8</cusip>
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          <isin value="US316144AC86"/>
          <other otherDesc="USER DEFINED" value="316144AC8"/>
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        <valUSD>4693971.9</valUSD>
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          <maturityDt>2032-04-30</maturityDt>
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          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
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          <isin value="US316773DL15"/>
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          <maturityDt>2032-01-29</maturityDt>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
        <cusip>316773DM9</cusip>
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          <isin value="US316773DM97"/>
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        <curCd>USD</curCd>
        <valUSD>3042965.52</valUSD>
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          <maturityDt>2030-09-06</maturityDt>
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      <invstOrSec>
        <name>FINANCIAL INSTITUTIONS I</name>
        <lei>N/A</lei>
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        <cusip>317580AA6</cusip>
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        <curCd>USD</curCd>
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          <maturityDt>2030-10-15</maturityDt>
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      <invstOrSec>
        <name>FINEMARK HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>FineMark Holdings Inc</title>
        <cusip>31788BAA6</cusip>
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          <ticker value="FNEMRK"/>
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        <curCd>USD</curCd>
        <valUSD>977979.59</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.23311</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>First American Government Obli</name>
        <lei>549300R5MYM6VZF1RM44</lei>
        <title>First American Government Obligations Fund</title>
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          <ticker value="FGUXX"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST BANK/HAMILTON NJ</name>
        <lei>549300YS4CB1171BRJ08</lei>
        <title>First Bank/Hamilton NJ</title>
        <cusip>319137CX1</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FIRST BUSEY CORPORATION</name>
        <lei>549300X4ZNLYSX7GUY60</lei>
        <title>First Busey Corp</title>
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          <ticker value="BUSE"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>First Citizens BancShares Inc/</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
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          <ticker value="FCNCA"/>
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        <name>FIRST CITIZENS BANCSHARE</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
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        <name>FIRST CITIZENS BANCSHARE</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
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        <name>FIRST CITIZENS BANCSHARE</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
        <cusip>319626AA5</cusip>
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          <isin value="US319626AA55"/>
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      <invstOrSec>
        <name>FIRST HELP FINANCIAL LLC</name>
        <lei>549300N8R7JO1WEZGT69</lei>
        <title>First Help Financial LLC</title>
        <cusip>32050FAA6</cusip>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4918567.4</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FIRST INTERSTATE BANCSYS</name>
        <lei>549300WRWYTYX0RCNJ43</lei>
        <title>First Interstate BancSystem Inc</title>
        <cusip>32055YAB8</cusip>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4130000</valUSD>
        <pctVal>0.8878377559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST MERCHANTS CORP</name>
        <lei>TZTBT0OTGQ2FEK6XMX94</lei>
        <title>First Merchants Corp</title>
        <cusip>320817208</cusip>
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          <isin value="US3208172086"/>
          <ticker value="FRME"/>
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        <balance>40000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1036400</valUSD>
        <pctVal>0.2227978330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST NATIONAL OF NEBRAS</name>
        <lei>N/A</lei>
        <title>First National of Nebraska Inc</title>
        <cusip>32119CAA2</cusip>
        <identifiers>
          <isin value="US32119CAA27"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5228053.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST NORTHWEST BANCORP</name>
        <lei>549300YDR3VSTKB9DQ65</lei>
        <title>First Northwest Bancorp</title>
        <cusip>335834AC1</cusip>
        <identifiers>
          <isin value="US335834AC16"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>786475.81</valUSD>
        <pctVal>0.1690709245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST PARAGOULD BANKSHR</name>
        <lei>N/A</lei>
        <title>First Paragould Bankshares Inc</title>
        <cusip>33589WAA7</cusip>
        <identifiers>
          <isin value="US33589WAA71"/>
          <ticker value="FSTPAR"/>
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        <balance>2250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2216148.5</valUSD>
        <pctVal>0.4764116976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.39442</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First United Corp</name>
        <lei>549300G54QPXQLB4KN58</lei>
        <title>First United Corp</title>
        <cusip>33741H107</cusip>
        <identifiers>
          <isin value="US33741H1077"/>
          <ticker value="FUNC"/>
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        <balance>16700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>576651</valUSD>
        <pctVal>0.1239642929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLAGSTAR BANCORP INC</name>
        <lei>549300Q22V2Y3J4R2715</lei>
        <title>Flagstar Bancorp Inc</title>
        <cusip>337930AD3</cusip>
        <identifiers>
          <isin value="US337930AD30"/>
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        <balance>2375000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2291875</valUSD>
        <pctVal>0.4926908370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.79927</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIVE STAR BANCORP</name>
        <lei>5493008ZRBIHKWC0JA73</lei>
        <title>Five Star Bancorp</title>
        <cusip>33830TAC7</cusip>
        <identifiers>
          <isin value="US33830TAC71"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>966698.85</valUSD>
        <pctVal>0.2078139801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Flushing Financial Corp</name>
        <lei>N/A</lei>
        <title>Flushing Financial Corp</title>
        <cusip>343873105</cusip>
        <identifiers>
          <isin value="US3438731057"/>
          <ticker value="FFIC"/>
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        <balance>30000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>410100</valUSD>
        <pctVal>0.0881603544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLUSHING FINANCIAL CORP</name>
        <lei>N/A</lei>
        <title>Flushing Financial Corp</title>
        <cusip>343873AB1</cusip>
        <identifiers>
          <isin value="US343873AB13"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1754816.66</valUSD>
        <pctVal>0.3772378899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FULTON FINANCIAL CORP</name>
        <lei>5493005QLZ6O1BNC0C11</lei>
        <title>Fulton Financial Corp</title>
        <cusip>360271308</cusip>
        <identifiers>
          <isin value="US3602713089"/>
          <ticker value="FULT"/>
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        <balance>42572</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>835262.64</valUSD>
        <pctVal>0.1795587670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA BANKING CO INC</name>
        <lei>N/A</lei>
        <title>Georgia Banking Co Inc</title>
        <cusip>37312RAA3</cusip>
        <identifiers>
          <isin value="US37312RAA32"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>961076.33</valUSD>
        <pctVal>0.2066052911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDEN PEAR FUND HOLDCO</name>
        <lei>N/A</lei>
        <title>Golden Pear Funding HoldCo LLC</title>
        <cusip>38116FAC1</cusip>
        <identifiers>
          <isin value="US38116FAC14"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5023565.7</valUSD>
        <pctVal>1.0799300963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDEN STATE BANK</name>
        <lei>2549008ZKY1Y3OCP3E23</lei>
        <title>Golden State Bank</title>
        <cusip>38120HAA5</cusip>
        <identifiers>
          <isin value="US38120HAA59"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>899697.14</valUSD>
        <pctVal>0.1934104334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GA79</cusip>
        <identifiers>
          <isin value="US38141GA799"/>
          <ticker value="GS"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2122494</valUSD>
        <pctVal>0.4562785254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GWZ3</cusip>
        <identifiers>
          <isin value="US38141GWZ35"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5002835.5</valUSD>
        <pctVal>1.0754736667</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.223</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GREEN DOT CORP</name>
        <lei>N/A</lei>
        <title>Green Dot Corp</title>
        <cusip>39304DAA0</cusip>
        <identifiers>
          <isin value="US39304DAA00"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2042353.02</valUSD>
        <pctVal>0.4390503927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Greene County Bancorp Inc</name>
        <lei>N/A</lei>
        <title>Greene County Bancorp Inc</title>
        <cusip>394357107</cusip>
        <identifiers>
          <isin value="US3943571071"/>
          <ticker value="GCBC"/>
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        <balance>25000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>548750</valUSD>
        <pctVal>0.1179663362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HANMI FINANCIAL CORP</name>
        <lei>549300MSZ7RCG7EA6587</lei>
        <title>Hanmi Financial Corp</title>
        <cusip>410495AB1</cusip>
        <identifiers>
          <isin value="US410495AB18"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3316574.21</valUSD>
        <pctVal>0.7129733181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HILLTOP HOLDINGS INC</name>
        <lei>54930010TA543US0PM65</lei>
        <title>Hilltop Holdings Inc</title>
        <cusip>432748AE1</cusip>
        <identifiers>
          <isin value="US432748AE14"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246250</valUSD>
        <pctVal>0.0529370575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MECHANICS BANCORP</name>
        <lei>N/A</lei>
        <title>Mechanics Bancorp</title>
        <cusip>43785VAE2</cusip>
        <identifiers>
          <isin value="US43785VAE20"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2478806.55</valUSD>
        <pctVal>0.5328760399</pctVal>
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      <invstOrSec>
        <name>HOMETOWN FIN GR/EASTH MA</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>HORIZON BANCORP</name>
        <lei>549300U2OQ2EIT5MXG39</lei>
        <title>Horizon Bancorp Inc/IN</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES</name>
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        <name>INDEPENDENT BANK CORP</name>
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        <curCd>USD</curCd>
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        <name>INPOINT COMM REAL ESTATE</name>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4406735.52</valUSD>
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          <maturityDt>2034-10-23</maturityDt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
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        <curCd>USD</curCd>
        <valUSD>2068853.38</valUSD>
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          <maturityDt>2035-07-22</maturityDt>
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          <annualizedRt>5.294</annualizedRt>
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      <invstOrSec>
        <name>KEY BANK NA</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
        <title>KeyBank NA/Cleveland OH</title>
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          <maturityDt>2033-01-26</maturityDt>
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          <annualizedRt>5</annualizedRt>
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        <name>Kingstone Cos Inc</name>
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        <assetCat>EC</assetCat>
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        <name>LAWRENCE BANCSHARES INC</name>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2035-06-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>LUMENT FINANCE TRUST INC</name>
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        <title>Lument Finance Trust Inc</title>
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          <ticker value="LFT"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>M&amp;T Bank Corp</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp</title>
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        <assetCat>EC</assetCat>
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        <name>M&amp;T BANK CORPORATION</name>
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        <title>M&amp;T Bank Corp</title>
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        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp</title>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>MAPLE FINANCIAL HLD INC</name>
        <lei>9845003D9D85D5DIUQ74</lei>
        <title>Maple Financial Holdings Inc</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>5</annualizedRt>
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        <name>MASCOMA MUTUAL FIN SERV</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>MERCANTILE BANK CORP</name>
        <lei>P16VZZCKTJ5IONL6XE37</lei>
        <title>Mercantile Bank Corp</title>
        <cusip>587376AE4</cusip>
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        <curCd>USD</curCd>
        <valUSD>1394180.3</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>MERIDIAN CORP</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>3991685.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.92639</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDWEST BANKCENTRE MO</name>
        <lei>N/A</lei>
        <title>Midwest Bankcentre Inc</title>
        <cusip>598281AJ2</cusip>
        <identifiers>
          <isin value="US598281AJ28"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2015111.34</valUSD>
        <pctVal>0.4331941719</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILLENNIUM CONS HOLDINGS</name>
        <lei>N/A</lei>
        <title>Millennium Consolidated Holdings LLC</title>
        <cusip>60040RAE6</cusip>
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          <isin value="US60040RAE62"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5104623.6</valUSD>
        <pctVal>1.0973553418</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MINNWEST CORP</name>
        <lei>549300T5O0HCNHK4PS46</lei>
        <title>Minnwest Corp</title>
        <cusip>60426PAC8</cusip>
        <identifiers>
          <isin value="US60426PAC86"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2534651.63</valUSD>
        <pctVal>0.5448812143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.75</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61748UAF9</cusip>
        <identifiers>
          <isin value="US61748UAF93"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6285984.3</valUSD>
        <pctVal>1.3513157856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.587</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NANO FINANCIAL HOLD</name>
        <lei>5493006Q0M80QTFE3H77</lei>
        <title>Nano Financial Holdings Inc</title>
        <cusip>63010MAB3</cusip>
        <identifiers>
          <isin value="US63010MAB37"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5096422.85</valUSD>
        <pctVal>1.0955924035</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>13</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp</title>
        <cusip>64828T706</cusip>
        <identifiers>
          <isin value="US64828T7063"/>
          <ticker value="RITM"/>
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        <balance>200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4922000</valUSD>
        <pctVal>1.0580962311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp</title>
        <cusip>64828T805</cusip>
        <identifiers>
          <isin value="US64828T8053"/>
          <ticker value="RITM"/>
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        <balance>40000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1002800</valUSD>
        <pctVal>0.2155747462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEWTEKONE INC</name>
        <lei>549300YLU78IA8GKJ688</lei>
        <title>NewtekOne Inc</title>
        <cusip>652526AC8</cusip>
        <identifiers>
          <isin value="US652526AC82"/>
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        <balance>2250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2273427.52</valUSD>
        <pctVal>0.4887251302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.125</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEWTEKONE INC</name>
        <lei>549300YLU78IA8GKJ688</lei>
        <title>NewtekOne Inc</title>
        <cusip>652526AE4</cusip>
        <identifiers>
          <isin value="US652526AE49"/>
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        <balance>750000</balance>
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        <curCd>USD</curCd>
        <valUSD>748041.23</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEXBANK CAPITAL INC</name>
        <lei>549300H29S945S4X7A03</lei>
        <title>NexBank Capital Inc</title>
        <cusip>65341TAE7</cusip>
        <identifiers>
          <isin value="US65341TAE73"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1917245.1</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEXBANK CAPITAL INC</name>
        <lei>549300H29S945S4X7A03</lei>
        <title>NexBank Capital Inc</title>
        <cusip>65341TAG2</cusip>
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          <isin value="US65341TAG22"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1421803.47</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTHPOINTE BANCSHARES I</name>
        <lei>549300EYMKMD4WKEKP72</lei>
        <title>Northpointe Bancshares Inc</title>
        <cusip>66661N308</cusip>
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          <isin value="US66661N3089"/>
          <ticker value="NRTBNC"/>
          <other otherDesc="USER DEFINED" value="66661N308"/>
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        <balance>80000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1970000</valUSD>
        <pctVal>0.4234964598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHPOINTE BANCSHARES I</name>
        <lei>549300EYMKMD4WKEKP72</lei>
        <title>Northpointe Bancshares Inc</title>
        <cusip>66661NAG5</cusip>
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          <isin value="US66661NAG51"/>
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        <balance>1200000</balance>
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        <curCd>USD</curCd>
        <valUSD>1267252.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTHWEST BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>Northwest Bancshares Inc</title>
        <cusip>667339AA3</cusip>
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          <isin value="US667339AA30"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985805.98</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.9133</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>A10 CAPITAL LLC</name>
        <lei>549300RXTK0PSG57BV49</lei>
        <title>A10 Capital LLC</title>
        <cusip>66982EAA0</cusip>
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          <isin value="US66982EAA01"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3944363</valUSD>
        <pctVal>0.8479308461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OBSIDIAN INSURANCE HOLD</name>
        <lei>254900TY5RP85WWY5T18</lei>
        <title>Obsidian Insurance Holdings Inc</title>
        <cusip>67449JAA4</cusip>
        <identifiers>
          <isin value="US67449JAA43"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4988437.5</valUSD>
        <pctVal>1.0723784880</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OCEANFIRST FINANCIAL CP</name>
        <lei>N/A</lei>
        <title>OceanFirst Financial Corp</title>
        <cusip>675234AB4</cusip>
        <identifiers>
          <isin value="US675234AB46"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1001048.51</valUSD>
        <pctVal>0.2151982234</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.30638</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OCEANFIRST FINANCIAL CP</name>
        <lei>N/A</lei>
        <title>OceanFirst Financial Corp</title>
        <cusip>675234AC2</cusip>
        <identifiers>
          <isin value="US675234AC29"/>
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        <balance>4250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4277965</valUSD>
        <pctVal>0.9196462095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OCONOMOWOC BANCSHARES</name>
        <lei>549300SH0NBQFD15MD48</lei>
        <title>Oconomowoc Bancshares Inc</title>
        <cusip>675626AD7</cusip>
        <identifiers>
          <isin value="US675626AD73"/>
          <other otherDesc="BBGID" value="BBG01WLTVM26"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4111533.72</valUSD>
        <pctVal>0.8838680076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OAKSTARS BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>Oakstar Bancshares Inc</title>
        <cusip>67630PAB7</cusip>
        <identifiers>
          <isin value="US67630PAB76"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>983132.92</valUSD>
        <pctVal>0.2113468585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OLNEY BANCSHARES TX INC</name>
        <lei>N/A</lei>
        <title>Olney Bancshares of Texas Inc</title>
        <cusip>68123AAA4</cusip>
        <identifiers>
          <isin value="US68123AAA43"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>963643.72</valUSD>
        <pctVal>0.2071572101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PCAP HOLDINGS LP</name>
        <lei>N/A</lei>
        <title>PCAP Holdings LP</title>
        <cusip>69320NAA5</cusip>
        <identifiers>
          <isin value="US69320NAA54"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>6.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475BR5</cusip>
        <identifiers>
          <isin value="US693475BR55"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5174847.1</valUSD>
        <pctVal>1.1124514858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.582</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475BW4</cusip>
        <identifiers>
          <isin value="US693475BW41"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1056630.14</valUSD>
        <pctVal>0.2271467633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.676</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Patriot National Bancorp Inc</name>
        <lei>549300T1270P6QIGPD23</lei>
        <title>Patriot National Bancorp Inc</title>
        <cusip>70336F203</cusip>
        <identifiers>
          <isin value="US70336F2039"/>
          <ticker value="PNBK"/>
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        <balance>149771</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>178227.49</valUSD>
        <pctVal>0.0383140665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PEAPACK GLADSTONE FINANC</name>
        <lei>549300G8DN2UK8K0ET30</lei>
        <title>Peapack-Gladstone Financial Corp</title>
        <cusip>704699AE7</cusip>
        <identifiers>
          <isin value="US704699AE72"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1981331.2</valUSD>
        <pctVal>0.4259323599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PENNYMAC MTGE INVESTMENT</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust</title>
        <cusip>70931T806</cusip>
        <identifiers>
          <isin value="US70931T8062"/>
          <ticker value="PMT"/>
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        <balance>37691</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>970166.34</valUSD>
        <pctVal>0.2085593962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PEOPLES FIN SERVICES</name>
        <lei>254900HXI30XMTDCGJ18</lei>
        <title>Peoples Financial Services Corp</title>
        <cusip>711040AC9</cusip>
        <identifiers>
          <isin value="US711040AC91"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3082142.43</valUSD>
        <pctVal>0.6625768568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PEOPLESBANCORP MHC</name>
        <lei>N/A</lei>
        <title>PeoplesBancorp MHC</title>
        <cusip>712710AC6</cusip>
        <identifiers>
          <isin value="US712710AC64"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1039391.98</valUSD>
        <pctVal>0.2234410274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHENIXFIN CORP</name>
        <lei>549300JJH1QEB0RKNO53</lei>
        <title>PhenixFIN Corp</title>
        <cusip>71742W301</cusip>
        <identifiers>
          <isin value="US71742W3016"/>
          <ticker value="PFX"/>
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        <balance>70000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1649200</valUSD>
        <pctVal>0.3545331785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pinnacle Financial Partners In</name>
        <lei>54930098EZ8JMSAZGS24</lei>
        <title>Pinnacle Financial Partners Inc</title>
        <cusip>72346Q104</cusip>
        <identifiers>
          <isin value="US72346Q1040"/>
          <ticker value="PNFP"/>
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        <balance>7000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>596470</valUSD>
        <pctVal>0.1282248393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Plumas Bancorp</name>
        <lei>549300O5TKTXYTYP4G59</lei>
        <title>Plumas Bancorp</title>
        <cusip>729273102</cusip>
        <identifiers>
          <isin value="US7292731020"/>
          <ticker value="PLBC"/>
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        <balance>10700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>439128</valUSD>
        <pctVal>0.0944005855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Prosperity Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Prosperity Bancshares Inc</title>
        <cusip>743606105</cusip>
        <identifiers>
          <isin value="US7436061052"/>
          <ticker value="PB"/>
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        <balance>13900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>914898</valUSD>
        <pctVal>0.1966782051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROVIDENT FINANCIAL</name>
        <lei>529900JOSO3SXEDVE477</lei>
        <title>Provident Financial Services Inc</title>
        <cusip>74386TAA3</cusip>
        <identifiers>
          <isin value="US74386TAA34"/>
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        <balance>4118000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4337183.97</valUSD>
        <pctVal>0.9323766787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUAINT OAK BANCORP INC</name>
        <lei>N/A</lei>
        <title>Quaint Oak Bancorp Inc</title>
        <cusip>74732TAE6</cusip>
        <identifiers>
          <isin value="US74732TAE64"/>
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        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1284820.01</valUSD>
        <pctVal>0.2762013836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QUEENSBOROUGH CO</name>
        <lei>N/A</lei>
        <title>Queensborough Co/The</title>
        <cusip>748249AA7</cusip>
        <identifiers>
          <isin value="US748249AA78"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1478344.89</valUSD>
        <pctVal>0.3178039733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.77363</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RBB BANCORP</name>
        <lei>549300A23FBFZNGET525</lei>
        <title>RBB Bancorp</title>
        <cusip>74930BAG0</cusip>
        <identifiers>
          <isin value="US74930BAG05"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1396044.14</valUSD>
        <pctVal>0.3001115488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>READYCAP HOLDINGS LLC</name>
        <lei>549300W908MAGNC9E420</lei>
        <title>ReadyCap Holdings LLC</title>
        <cusip>755763AE9</cusip>
        <identifiers>
          <isin value="US755763AE91"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4058353.44</valUSD>
        <pctVal>0.8724356927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Redwood Trust Inc</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
        <title>Redwood Trust Inc</title>
        <cusip>758075402</cusip>
        <identifiers>
          <isin value="US7580754023"/>
          <ticker value="RWT"/>
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        <balance>25750</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>136732.5</valUSD>
        <pctVal>0.0293937714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp</title>
        <cusip>7591EPAV2</cusip>
        <identifiers>
          <isin value="US7591EPAV24"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6147914.1</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.502</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIVER FINANCIAL CORP</name>
        <lei>N/A</lei>
        <title>River Financial Corp</title>
        <cusip>76821PAA9</cusip>
        <identifiers>
          <isin value="US76821PAA93"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>971293.5</valUSD>
        <pctVal>0.2088017049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SCRE INTERMEDIATE HOLDCO</name>
        <lei>N/A</lei>
        <title>SCRE Intermediate Holdco LLC</title>
        <cusip>78434LAA3</cusip>
        <identifiers>
          <isin value="US78434LAA35"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1921806.42</valUSD>
        <pctVal>0.4131361499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NBT BANCORP INC</name>
        <lei>N/A</lei>
        <title>NBT Bancorp Inc</title>
        <cusip>795226AD1</cusip>
        <identifiers>
          <isin value="US795226AD16"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>935633.76</valUSD>
        <pctVal>0.2011358300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANDY SPRING BANCORP INC</name>
        <lei>N/A</lei>
        <title>Sandy Spring Bancorp Inc</title>
        <cusip>800363AB9</cusip>
        <identifiers>
          <isin value="US800363AB92"/>
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        <balance>3750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3747270.04</valUSD>
        <pctVal>0.8055612162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.09299</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SILVER QUEEN FIN SERV</name>
        <lei>549300BB7BBRK8QESH76</lei>
        <title>Silver Queen Financial Services Inc</title>
        <cusip>82809FAA5</cusip>
        <identifiers>
          <isin value="US82809FAA57"/>
          <ticker value="SLVRQN"/>
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        <balance>3800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3733900.56</valUSD>
        <pctVal>0.8026871414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.77083</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SIMMONS FIRST NTL CORP</name>
        <lei>549300IVR5AJKUVOGN05</lei>
        <title>Simmons First National Corp</title>
        <cusip>828730AC5</cusip>
        <identifiers>
          <isin value="US828730AC56"/>
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        <balance>7500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7550730</valUSD>
        <pctVal>1.6232017382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SMARTFINANCIAL INC</name>
        <lei>N/A</lei>
        <title>SmartFinancial Inc</title>
        <cusip>83190LAD1</cusip>
        <identifiers>
          <isin value="US83190LAD10"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3038514.06</valUSD>
        <pctVal>0.6531979429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHSTATE BANK CORP</name>
        <lei>549300JZUANXM0YQ4W53</lei>
        <title>SOUTHSTATE BANK CORP</title>
        <cusip>840441AA7</cusip>
        <identifiers>
          <isin value="US840441AA79"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4184225.32</valUSD>
        <pctVal>0.8994947260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTH ST SEC FUND LLC</name>
        <lei>N/A</lei>
        <title>South Street Securities Funding LLC</title>
        <cusip>84046SAF5</cusip>
        <identifiers>
          <isin value="US84046SAF56"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6005002.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN FINANCIAL CORP</name>
        <lei>N/A</lei>
        <title>Southern Financial Corp</title>
        <cusip>84289RAA4</cusip>
        <identifiers>
          <isin value="US84289RAA41"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1376952.77</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRIMIS FINANCIAL CORP</name>
        <lei>549300JNX3M2EENG1F11</lei>
        <title>Primis Financial Corp</title>
        <cusip>843395AB0</cusip>
        <identifiers>
          <isin value="US843395AB03"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1988259.62</valUSD>
        <pctVal>0.4274217819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.48106</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHSIDE BANCSHARES INC</name>
        <lei>549300TC83207VQA2K65</lei>
        <title>Southside Bancshares Inc</title>
        <cusip>84470PAG4</cusip>
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          <isin value="US84470PAG46"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4133345.36</valUSD>
        <pctVal>0.8885569174</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHSTATE BANK CORP</name>
        <lei>549300JZUANXM0YQ4W53</lei>
        <title>SOUTHSTATE BANK CORP</title>
        <cusip>84472E102</cusip>
        <identifiers>
          <isin value="US84472E1029"/>
          <ticker value="SSB"/>
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        <balance>8000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>709200</valUSD>
        <pctVal>0.1524587255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STATE STREET CORP</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
        <cusip>857477CC5</cusip>
        <identifiers>
          <isin value="US857477CC50"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2070423.12</valUSD>
        <pctVal>0.4450847014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.159</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEBSTER FINANCIAL CORP</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp</title>
        <cusip>85917AAB6</cusip>
        <identifiers>
          <isin value="US85917AAB61"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1997885.24</valUSD>
        <pctVal>0.4294910286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.50639</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEBSTER FINANCIAL CORP</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp</title>
        <cusip>85917AAC4</cusip>
        <identifiers>
          <isin value="US85917AAC45"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1500000</valUSD>
        <pctVal>0.3224592334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BURKE &amp; HERBERT FIN</name>
        <lei>N/A</lei>
        <title>Burke &amp; Herbert Financial Services Corp</title>
        <cusip>86606GAF8</cusip>
        <identifiers>
          <isin value="US86606GAF81"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1807973.76</valUSD>
        <pctVal>0.3886652217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TPG RE FINANCE TRUST INC</name>
        <lei>N/A</lei>
        <title>TPG RE Finance Trust Inc</title>
        <cusip>87266M206</cusip>
        <identifiers>
          <isin value="US87266M2061"/>
          <ticker value="TRTX"/>
        </identifiers>
        <balance>30000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>525300</valUSD>
        <pctVal>0.1129252235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS STATE BNKSHRS INC</name>
        <lei>549300KSLUE7MP08XL09</lei>
        <title>Texas State Bankshares Inc</title>
        <cusip>882727AA8</cusip>
        <identifiers>
          <isin value="US882727AA84"/>
          <ticker value="TXSTBK"/>
        </identifiers>
        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4000825.68</valUSD>
        <pctVal>0.8600687878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.84942</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MS TRANSVERSE INSURANCE</name>
        <lei>N/A</lei>
        <title>MS Transverse Insurance Group LLC</title>
        <cusip>89402HAA7</cusip>
        <identifiers>
          <isin value="US89402HAA77"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5004564.9</valUSD>
        <pctVal>1.0758454407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRINITAS CAPITAL MGMT</name>
        <lei>254900JU042545A6UD08</lei>
        <title>Trinitas Capital Management LLC</title>
        <cusip>89642CAC4</cusip>
        <identifiers>
          <isin value="US89642CAC47"/>
        </identifiers>
        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5887500</valUSD>
        <pctVal>1.2656524910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89788MAT9</cusip>
        <identifiers>
          <isin value="US89788MAT99"/>
        </identifiers>
        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6163480.98</valUSD>
        <pctVal>1.3249809012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.153</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TULSA VALLEY BANCSHRS</name>
        <lei>N/A</lei>
        <title>Tulsa Valley Bancshares Corp</title>
        <cusip>89968RAA1</cusip>
        <identifiers>
          <isin value="US89968RAA14"/>
        </identifiers>
        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1184220.73</valUSD>
        <pctVal>0.2545752725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMB Financial Corp</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB Financial Corp</title>
        <cusip>902788108</cusip>
        <identifiers>
          <isin value="US9027881088"/>
          <ticker value="UMBF"/>
        </identifiers>
        <balance>8600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>919168</valUSD>
        <pctVal>0.1975961391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>USBC FINANCIAL HOLDINGS</name>
        <lei>N/A</lei>
        <title>USCB Financial Holdings Inc</title>
        <cusip>90355NAA9</cusip>
        <identifiers>
          <isin value="US90355NAA90"/>
        </identifiers>
        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4045123.24</valUSD>
        <pctVal>0.8695915593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED COMM BK BLAIRSVLL</name>
        <lei>549300GVW0FV66X3U703</lei>
        <title>United Community Banks Inc/GA</title>
        <cusip>90985FAG1</cusip>
        <identifiers>
          <isin value="US90985FAG19"/>
        </identifiers>
        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3475163.44</valUSD>
        <pctVal>0.7470656925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.21994</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED FIDELITY BK FSB</name>
        <lei>549300RV3BMT6ES6TO70</lei>
        <title>United Fidelity Bank FSB</title>
        <cusip>910286400</cusip>
        <identifiers>
          <isin value="US9102864009"/>
          <ticker value="FFED"/>
        </identifiers>
        <balance>1000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>705000</valUSD>
        <pctVal>0.1515558397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN COASTAL INSURAN</name>
        <lei>5299002P9105LJQA8G51</lei>
        <title>American Coastal Insurance Corp</title>
        <cusip>910710AA0</cusip>
        <identifiers>
          <isin value="US910710AA09"/>
          <ticker value="UIHC"/>
        </identifiers>
        <balance>3670000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3660825</valUSD>
        <pctVal>0.7869778820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
        <cusip>91159HJM3</cusip>
        <identifiers>
          <isin value="US91159HJM34"/>
        </identifiers>
        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3635684.22</valUSD>
        <pctVal>0.7815732976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.775</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
        <cusip>91159HJT8</cusip>
        <identifiers>
          <isin value="US91159HJT86"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2564331.6</valUSD>
        <pctVal>0.5512616012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.046</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL INSURANCE HLDS</name>
        <lei>529900GGAZ6WVUCWQM46</lei>
        <title>Universal Insurance Holdings Inc</title>
        <cusip>91359VAC1</cusip>
        <identifiers>
          <isin value="US91359VAC19"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6925431.59</valUSD>
        <pctVal>1.4887795742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVEST FINANCIAL CORP</name>
        <lei>4WII2HCR8UEWNU03U507</lei>
        <title>Univest Financial Corp</title>
        <cusip>915271AD2</cusip>
        <identifiers>
          <isin value="US915271AD22"/>
        </identifiers>
        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1235008.79</valUSD>
        <pctVal>0.2654933251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US METRO BANCORP</name>
        <lei>254900YSEAFD47GLG088</lei>
        <title>US Metro Bancorp Inc</title>
        <cusip>91741UAC0</cusip>
        <identifiers>
          <isin value="US91741UAC09"/>
          <ticker value="USMT"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2997764.61</valUSD>
        <pctVal>0.6444379187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.65</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VCT HOLDINGS LLC</name>
        <lei>984500BB606145D14C23</lei>
        <title>VCT Holdings LLC</title>
        <cusip>91824JAA9</cusip>
        <identifiers>
          <isin value="US91824JAA97"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4931250</valUSD>
        <pctVal>1.0600847297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <name>VALLEY NATIONAL BANCORP</name>
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      <invstOrSec>
        <name>VELOCITY COM CAP LLC</name>
        <lei>549300TA4MQM8WN2XG31</lei>
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        <name>VERABANK INC</name>
        <lei>N/A</lei>
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          <maturityDt>2035-06-01</maturityDt>
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      <invstOrSec>
        <name>VYSTAR CREDIT UNION</name>
        <lei>54930036K3ZFJ4FOKT69</lei>
        <title>VyStar Credit Union</title>
        <cusip>92891CCH3</cusip>
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          <isin value="US92891CCH34"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2664254.88</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
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          <annualizedRt>4.25</annualizedRt>
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      <invstOrSec>
        <name>WEBSTER FINANCIAL CORP</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
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          <isin value="US947890AK50"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2003153.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-11</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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          <isin value="US95000U3V39"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6307530.24</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.605</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>WESBANCO INC</name>
        <lei>N/A</lei>
        <title>WesBanco Inc</title>
        <cusip>950810887</cusip>
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          <isin value="US9508108878"/>
          <ticker value="WSBC"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>2552000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Western Alliance Bancorp</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp</title>
        <cusip>957638109</cusip>
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          <isin value="US9576381092"/>
          <ticker value="WAL"/>
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        <balance>4000</balance>
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        <curCd>USD</curCd>
        <valUSD>309400</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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        <name>WESTERN ALLIANCE BANCORP</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp</title>
        <cusip>957638AD1</cusip>
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          <isin value="US957638AD14"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2884560</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3</annualizedRt>
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        <name>WHITE RIVER BANCSHARES</name>
        <lei>549300N456FXLMXKBL51</lei>
        <title>White River Bancshares Co</title>
        <cusip>96445AAA6</cusip>
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          <isin value="US96445AAA60"/>
          <ticker value="WHRIBA"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4900191.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-31</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>WINTRUST FINANCIAL CORP</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>Wintrust Financial Corp</title>
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          <ticker value="WTFC"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4947768.6</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>ZIONS BANCORP NA</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>Zions Bancorp NA</title>
        <cusip>98971DAB6</cusip>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-10-29</maturityDt>
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        <name>Patriot National Bancorp PREFERRED</name>
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        <title>Patriot National Bancorp PREFERRED</title>
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        <assetCat>EP</assetCat>
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        <name>BIG POPPY HOLDIN</name>
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        <name>REVREPO89642CAC4</name>
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        <title>REVREPO89642CAC4</title>
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        <name>REVREPO84470PAG4</name>
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        <name>REVREPO828730AC5</name>
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        <invCountry>US</invCountry>
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        <name>REVREPO144523AG2</name>
        <lei>N/A</lei>
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        <name>REVREPO82809FAA5</name>
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        <name>REVREPO46647PEK8</name>
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        <name>REVREPO32119CAA2</name>
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        <name>REVREPO60426PAC8</name>
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        <name>REVREPO43789TAB9</name>
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              <collateralVal>1014790</collateralVal>
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        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
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        <name>REVREPO85917AAB6</name>
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        <name>REVREPO453836AJ7</name>
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        <securityLending>
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          <isTriParty>Y</isTriParty>
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            <repurchaseCollateral>
              <principalAmt>979409.1316025067</principalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>REVREPO519617AA2</name>
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        <valUSD>-1680000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
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          <isTriParty>Y</isTriParty>
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          </repurchaseCollaterals>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>REVREPO83190LAD1</name>
        <lei>N/A</lei>
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        <valUSD>-1641000</valUSD>
        <pctVal>-0.3527704013</pctVal>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="N/A" name="Lucid Management and Capital Partners LP"/>
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          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.34363</repurchaseRt>
          <maturityDt>2026-01-15</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
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          </repurchaseCollaterals>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>REVREPO173167AC1</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="REVREPF2077"/>
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        <balance>-1379000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1379000</valUSD>
        <pctVal>-0.2964475219</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="N/A" name="Lucid Management and Capital Partners LP"/>
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          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.34363</repurchaseRt>
          <maturityDt>2026-01-15</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2500000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2496300</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-12-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Angel Oak Financial Strategies Income Term Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/ Michael Colombo</ncom:signature>
      <ncom:signerName>Michael Colombo</ncom:signerName>
      <ncom:title>Secretary</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
