The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AERCAP HOLDINGS NV SHS N00985106   1,096,725 17,500 SH   SOLE   17,500 0 0
ALGOMA STL GROUP INC COM 015658107   247,914 36,458 SH   SOLE   36,458 0 0
ALPHABET INC CAP STK CL C 02079K107   263,700 2,000 SH   SOLE   2,000 0 0
AMERIS BANCORP COM 03076K108   1,896,389 49,398 SH   SOLE   46,289 3,109 0
ANTERO RESOURCES CORP COM 03674X106   253,800 10,000 SH   SOLE   10,000 0 0
APA CORPORATION COM 03743Q108   411,000 10,000 SH   SOLE   10,000 0 0
ASSURED GUARANTY LTD COM G0585R106   2,256,065 37,278 SH   SOLE   37,278 0 0
AVANTAX INC COM 095229100   1,469,111 57,432 SH   SOLE   57,432 0 0
AXOS FINANCIAL INC COM 05465C100   4,231,347 111,763 SH   SOLE   106,116 5,647 0
BANC OF CALIFORNIA INC COM 05990K106   8,027,972 648,463 SH   SOLE   601,121 47,342 0
BANK7 CORP COM 06652N107   224,515 9,974 SH   SOLE   9,974 0 0
BRIDGEWATER BANCSHARES INC COM 108621103   731,287 77,140 SH   SOLE   51,297 25,843 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103   1,315,902 67,865 SH   SOLE   67,865 0 0
BROADWAY FINL CORP DEL COM 111444105   1,083,566 1,105,792 SH   SOLE   1,105,792 0 0
CAPITAL ONE FINL CORP COM 14040H105   1,085,310 11,183 SH   SOLE   7,410 3,773 0
CITIGROUP INC COM NEW 172967424   411,300 10,000 SH   SOLE   10,000 0 0
CITIZENS FINL GROUP INC COM 174610105   547,390 20,425 SH   SOLE   13,578 6,847 0
CNB FINL CORP PA COM 126128107   2,291,821 126,550 SH   SOLE   126,550 0 0
COASTAL FINL CORP WA COM NEW 19046P209   5,637,087 131,370 SH   SOLE   117,865 13,505 0
COLUMBIA BKG SYS INC COM 197236102   2,995,387 147,556 SH   SOLE   137,657 9,899 0
COMERICA INC COM 200340107   3,511,058 84,502 SH   SOLE   79,252 5,250 0
CONNECTONE BANCORP INC COM 20786W107   532,172 29,847 SH   SOLE   19,795 10,052 0
CUMULUS MEDIA INC COM CL A 231082801   441,649 86,768 SH   SOLE   86,768 0 0
CUSTOMERS BANCORP INC COM 23204G100   1,832,740 53,200 SH   SOLE   53,200 0 0
DESIGNER BRANDS INC CL A 250565108   1,010,825 79,844 SH   SOLE   79,844 0 0
DEVON ENERGY CORP NEW COM 25179M103   477,000 10,000 SH   SOLE   10,000 0 0
EAST WEST BANCORP INC COM 27579R104   5,893,242 111,805 SH   SOLE   103,235 8,570 0
ENCORE CAP GROUP INC COM 292554102   1,602,969 33,563 SH   SOLE   33,563 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   420,900 30,000 SH   SOLE   30,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105   2,997,300 79,928 SH   SOLE   75,029 4,899 0
EQUITABLE HLDGS INC COM 29452E101   2,094,643 73,781 SH   SOLE   73,781 0 0
F N B CORP COM 302520101   2,542,167 235,604 SH   SOLE   235,604 0 0
FIDELIS INSURANCE HOLDINGS L COM G3398L118   192,293 13,099 SH   SOLE   13,099 0 0
FIFTH THIRD BANCORP COM 316773100   614,354 24,254 SH   SOLE   16,109 8,145 0
FIRST BANCSHARES INC MS COM 318916103   3,722,292 138,016 SH   SOLE   124,293 13,723 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   5,985,494 4,337 SH   SOLE   3,913 424 0
FIRST HORIZON CORPORATION COM 320517105   2,511,315 227,887 SH   SOLE   216,260 11,627 0
FIRST MERCHANTS CORP COM 320817109   2,967,392 106,664 SH   SOLE   99,984 6,680 0
FIRST UTD CORP COM 33741H107   3,648,548 224,872 SH   SOLE   224,872 0 0
GENWORTH FINL INC COM CL A 37247D106   3,014,073 514,347 SH   SOLE   514,347 0 0
HANCOCK WHITNEY CORPORATION COM 410120109   782,597 21,157 SH   SOLE   14,056 7,101 0
HEARTLAND FINL USA INC COM 42234Q102   1,299,070 44,141 SH   SOLE   44,141 0 0
HERITAGE FINL CORP WASH COM 42722X106   685,852 42,051 SH   SOLE   27,812 14,239 0
HILLTOP HOLDINGS INC COM 432748101   916,538 32,318 SH   SOLE   32,318 0 0
INTERDIGITAL INC COM 45867G101   691,187 8,614 SH   SOLE   8,614 0 0
JACKSON FINANCIAL INC COM CL A 46817M107   50,373,310 1,317,983 SH   SOLE   1,317,983 0 0
KEYCORP COM 493267108   161,400 15,000 SH   SOLE   15,000 0 0
LINKBANCORP INC COM 53578P105   4,118,795 598,662 SH   SOLE   598,662 0 0
MERCHANTS BANCORP IND COM 58844R108   1,744,475 62,932 SH   SOLE   58,770 4,162 0
METROPOLITAN BK HLDG CORP COM 591774104   6,568,167 181,041 SH   SOLE   168,285 12,756 0
NATIONAL BK HLDGS CORP CL A 633707104   405,778 13,635 SH   SOLE   9,082 4,553 0
NEW YORK CMNTY BANCORP INC COM 649445103   4,662,736 411,176 SH   SOLE   387,371 23,805 0
NEXPOINT DIVERSIFIED REL ET COM NEW 65340G205   2,496,922 286,673 SH   SOLE   286,673 0 0
OCEANFIRST FINL CORP COM 675234108   645,188 44,588 SH   SOLE   29,616 14,972 0
OLD NATL BANCORP IND COM 680033107   2,765,872 190,225 SH   SOLE   170,594 19,631 0
OLD SECOND BANCORP INC ILL COM 680277100   4,095,208 300,897 SH   SOLE   279,948 20,949 0
OPPENHEIMER HLDGS INC CL A NON VTG 683797104   1,319,396 34,440 SH   SOLE   34,440 0 0
ORIGIN BANCORP INC COM 68621T102   786,967 27,259 SH   SOLE   18,119 9,140 0
PACIFIC PREMIER BANCORP COM 69478X105   1,632,000 75,000 SH   SOLE   75,000 0 0
PACWEST BANCORP DEL COM 695263103   593,250 75,000 SH   SOLE   75,000 0 0
PAGAYA TECHNOLOGIES LTD *W EXP 09/01/202 M7S64L107   1,746,333 5,166,667 SH   SOLE   5,166,667 0 0
PAGAYA TECHNOLOGIES LTD CL A SHS M7S64L115   21,616,204 13,681,142 SH   SOLE   13,681,142 0 0
PEABODY ENERGY CORP COM 704551100   649,750 25,000 SH   SOLE   25,000 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107   379,364 14,790 SH   SOLE   9,812 4,978 0
PEOPLES BANCORP INC COM 709789101   798,937 31,479 SH   SOLE   20,943 10,536 0
PINNACLE FINL PARTNERS INC COM 72346Q104   3,057,493 45,607 SH   SOLE   40,826 4,781 0
POPULAR INC COM NEW 733174700   994,739 15,787 SH   SOLE   10,512 5,275 0
PREMIER FINANCIAL CORP COM 74052F108   578,778 33,926 SH   SOLE   22,625 11,301 0
PRIMIS FINANCIAL CORP COM 74167B109   430,736 52,851 SH   SOLE   35,128 17,723 0
PROLOGIS INC. COM 74340W103   224,420 2,000 SH   SOLE   2,000 0 0
QCR HOLDINGS INC COM 74727A104   551,527 11,367 SH   SOLE   7,567 3,800 0
RED ROCK RESORTS INC CL A 75700L108   777,073 18,953 SH   SOLE   18,953 0 0
RHINEBECK BANCORP INC COM 762093102   1,165,988 171,217 SH   SOLE   171,217 0 0
SIMON PPTY GROUP INC NEW COM 828806109   432,120 4,000 SH   SOLE   4,000 0 0
SLM CORP COM 78442P106   1,792,351 131,597 SH   SOLE   131,597 0 0
SOUTHERN CALIF BANCORP COM 84252A106   1,512,351 107,948 SH   SOLE   107,948 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107   850,615 20,005 SH   SOLE   20,005 0 0
STELLAR BANCORP INC COM 858927106   603,676 28,315 SH   SOLE   18,824 9,491 0
SUMMIT FINL GROUP INC COM 86606G101   2,803,728 124,389 SH   SOLE   124,389 0 0
SURO CAPITAL CORP COM NEW 86887Q109   128,879 35,602 SH   SOLE   35,602 0 0
SYNOVUS FINL CORP COM NEW 87161C501   2,882,888 103,701 SH   SOLE   93,310 10,391 0
THE ODP CORP COM 88337F105   945,152 20,480 SH   SOLE   20,480 0 0
TRINITY CAP INC COM 896442308   348,000 25,000 SH   SOLE   25,000 0 0
TRIUMPH FINANCIAL INC COM 89679E300   540,932 8,349 SH   SOLE   8,349 0 0
UMB FINL CORP COM 902788108   2,424,790 39,078 SH   SOLE   35,394 3,684 0
UNITED SEC BANCSHARES CALIF COM 911460103   626,790 84,246 SH   SOLE   84,246 0 0
VALLEY NATL BANCORP COM 919794107   474,250 55,403 SH   SOLE   36,726 18,677 0
WEBSTER FINL CORP COM 947890109   3,689,010 91,516 SH   SOLE   85,206 6,310 0
WEST FRASER TIMBER CO LTD COM 952845105   492,764 6,793 SH   SOLE   6,793 0 0
WESTERN ALLIANCE BANCORP COM 957638109   3,681,737 80,090 SH   SOLE   76,621 3,469 0
WINTRUST FINL CORP COM 97650W108   1,190,937 15,774 SH   SOLE   10,481 5,293 0