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
ALGOMA STL GROUP INC COM 015658107   258,945 30,500 SH   SOLE   30,500 0 0
ALPHABET INC CAP STK CL C 02079K107   304,520 2,000 SH   SOLE   2,000 0 0
AMAZON COM INC COM 023135106   360,760 2,000 SH   SOLE   2,000 0 0
AMERIS BANCORP COM 03076K108   321,969 6,655 SH   SOLE   4,149 2,506 0
ANTERO RESOURCES CORP COM 03674X106   290,000 10,000 SH   SOLE   10,000 0 0
APA CORPORATION COM 03743Q108   343,800 10,000 SH   SOLE   10,000 0 0
AXOS FINANCIAL INC COM 05465C100   2,831,318 52,393 SH   SOLE   47,990 4,403 0
BANC OF CALIFORNIA INC COM 05990K106   4,527,135 297,642 SH   SOLE   263,811 33,831 0
BARCLAYS PLC ADR 06738E204   1,890,000 200,000 SH   SOLE   200,000 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105   79,769 29,654 SH   SOLE   29,654 0 0
BOSTON PROPERTIES INC COM 101121101   228,585 3,500 SH   SOLE   3,500 0 0
BRIDGEWATER BANCSHARES INC COM 108621103   637,325 54,753 SH   SOLE   34,380 20,373 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103   2,240,969 98,116 SH   SOLE   98,116 0 0
CANNAE HLDGS INC COM 13765N107   3,213,680 144,500 SH   SOLE   144,500 0 0
CAPITAL ONE FINL CORP COM 14040H105   2,590,239 17,397 SH   SOLE   14,888 2,509 0
CITIGROUP INC COM NEW 172967424   632,400 10,000 SH   SOLE   10,000 0 0
COASTAL FINL CORP WA COM NEW 19046P209   3,277,091 84,309 SH   SOLE   73,317 10,992 0
COLUMBIA BKG SYS INC COM 197236102   406,853 21,026 SH   SOLE   13,042 7,984 0
COMERICA INC COM 200340107   872,966 15,875 SH   SOLE   11,735 4,140 0
CONNECTONE BANCORP INC COM 20786W107   416,657 21,367 SH   SOLE   13,276 8,091 0
CUMULUS MEDIA INC COM CL A 231082801   319,198 88,913 SH   SOLE   88,913 0 0
CUSTOMERS BANCORP INC COM 23204G100   2,060,161 38,827 SH   SOLE   38,827 0 0
DESIGNER BRANDS INC CL A 250565108   1,060,210 97,000 SH   SOLE   97,000 0 0
DEVON ENERGY CORP NEW COM 25179M103   501,800 10,000 SH   SOLE   10,000 0 0
EAST WEST BANCORP INC COM 27579R104   4,600,721 58,156 SH   SOLE   52,043 6,113 0
ENCORE CAP GROUP INC COM 292554102   1,906,224 41,794 SH   SOLE   41,794 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   393,250 25,000 SH   SOLE   25,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105   2,385,131 58,805 SH   SOLE   54,856 3,949 0
EQUITABLE HLDGS INC COM 29452E101   1,159,875 30,515 SH   SOLE   30,515 0 0
F N B CORP COM 302520101   2,025,705 143,667 SH   SOLE   143,667 0 0
FIFTH THIRD BANCORP COM 316773100   644,440 17,319 SH   SOLE   10,822 6,497 0
FIRST BANCSHARES INC MS COM 318916103   3,379,235 130,221 SH   SOLE   119,243 10,978 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   5,106,105 3,123 SH   SOLE   2,784 339 0
FIRST HORIZON CORPORATION COM 320517105   3,611,100 234,487 SH   SOLE   217,711 16,776 0
FIRST MERCHANTS CORP COM 320817109   494,533 14,170 SH   SOLE   8,768 5,402 0
FIRST UTD CORP COM 33741H107   801,850 35,000 SH   SOLE   35,000 0 0
FIVE STAR BANCORP COM 33830T103   1,687,500 75,000 SH   SOLE   75,000 0 0
GENWORTH FINL INC COM CL A 37247D106   3,605,944 560,800 SH   SOLE   560,800 0 0
HANCOCK WHITNEY CORPORATION COM 410120109   695,204 15,100 SH   SOLE   9,418 5,682 0
HEARTLAND FINL USA INC COM 42234Q102   2,314,311 65,841 SH   SOLE   65,841 0 0
HERITAGE COMM CORP COM 426927109   1,321,449 154,015 SH   SOLE   154,015 0 0
HERITAGE FINL CORP WASH COM 42722X106   577,919 29,805 SH   SOLE   18,655 11,150 0
HILLTOP HOLDINGS INC COM 432748101   670,248 21,400 SH   SOLE   21,400 0 0
HOMETRUST BANCSHARES INC COM 437872104   3,188,500 116,624 SH   SOLE   116,624 0 0
INDEPENDENT BANK GROUP INC COM 45384B106   559,943 12,266 SH   SOLE   7,603 4,663 0
INTERDIGITAL INC COM 45867G101   292,765 2,750 SH   SOLE   2,750 0 0
JACKSON FINANCIAL INC COM CL A 46817M107   2,277,266 34,431 SH   SOLE   34,431 0 0
KEYCORP COM 493267108   2,450,597 155,003 SH   SOLE   155,003 0 0
LINKBANCORP INC COM 53578P105   994,960 143,366 SH   SOLE   143,366 0 0
MERCHANTS BANCORP IND COM 58844R108   377,652 8,746 SH   SOLE   5,448 3,298 0
METROPOLITAN BK HLDG CORP COM 591774104   975,167 25,329 SH   SOLE   17,728 7,601 0
NATIONAL BK HLDGS CORP CL A 633707104   353,558 9,802 SH   SOLE   6,090 3,712 0
NB BANCORP INC COM 63945M107   5,335,828 390,617 SH   SOLE   369,929 20,688 0
NEXPOINT DIVERSIFIED REL ET COM NEW 65340G205   1,580,799 239,515 SH   SOLE   239,515 0 0
OCEANFIRST FINL CORP COM 675234108   524,349 31,953 SH   SOLE   19,879 12,074 0
OLD NATL BANCORP IND COM 680033107   2,389,453 137,246 SH   SOLE   121,343 15,903 0
OLD SECOND BANCORP INC ILL COM 680277100   3,459,266 249,947 SH   SOLE   233,107 16,840 0
ONESPAN INC COM 68287N100   1,447,295 124,445 SH   SOLE   124,445 0 0
OPPENHEIMER HLDGS INC CL A NON VTG 683797104   1,596,800 40,000 SH   SOLE   40,000 0 0
OPTIMUMBANK HLDGS INC COM 68401P403   1,099,999 256,410 SH   SOLE   256,410 0 0
ORIGIN BANCORP INC COM 68621T102   611,461 19,573 SH   SOLE   12,161 7,412 0
PAGAYA TECHNOLOGIES LTD *W EXP 99/99/999 M7S64L107   471,458 5,166,667 SH   SOLE   5,166,667 0 0
PAGAYA TECHNOLOGIES LTD CL A NEW M7S64L123   369,408 36,575 SH   SOLE   36,575 0 0
PEABODY ENERGY CORP COM 704551100   485,200 20,000 SH   SOLE   20,000 0 0
PEOPLES BANCORP INC COM 709789101   667,646 22,548 SH   SOLE   14,065 8,483 0
PINNACLE FINL PARTNERS INC COM 72346Q104   3,575,184 41,630 SH   SOLE   37,781 3,849 0
POPULAR INC COM NEW 733174700   997,355 11,322 SH   SOLE   7,052 4,270 0
PREMIER FINANCIAL CORP COM 74052F108   3,220,250 158,633 SH   SOLE   149,470 9,163 0
PROLOGIS INC. COM 74340W103   260,440 2,000 SH   SOLE   2,000 0 0
PROVIDENT FINL SVCS INC COM 74386T105   1,644,851 112,893 SH   SOLE   112,893 0 0
QCR HOLDINGS INC COM 74727A104   496,792 8,179 SH   SOLE   5,078 3,101 0
RED ROCK RESORTS INC CL A 75700L108   1,391,114 23,255 SH   SOLE   23,255 0 0
SANDY SPRING BANCORP INC COM 800363103   1,837,224 79,259 SH   SOLE   79,259 0 0
SCHLUMBERGER LTD COM STK 806857108   274,050 5,000 SH   SOLE   5,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109   312,980 2,000 SH   SOLE   2,000 0 0
SLM CORP COM 78442P106   2,144,201 98,403 SH   SOLE   98,403 0 0
SOUTHERN CALIF BANCORP COM 84252A106   941,999 63,179 SH   SOLE   63,179 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107   793,198 20,005 SH   SOLE   20,005 0 0
STELLAR BANCORP INC COM 858927106   495,945 20,359 SH   SOLE   12,617 7,742 0
SUMMIT FINL GROUP INC COM 86606G101   3,319,903 122,235 SH   SOLE   122,235 0 0
SURO CAPITAL CORP COM NEW 86887Q109   330,835 72,711 SH   SOLE   72,711 0 0
SYNOVUS FINL CORP COM NEW 87161C501   2,999,533 74,876 SH   SOLE   66,406 8,470 0
THE ODP CORP COM 88337F105   1,273,200 24,000 SH   SOLE   24,000 0 0
TOAST INC CL A 888787108   249,200 10,000 SH   SOLE   10,000 0 0
TRANSOCEAN LTD REGISTERED SHS H8817H100   157,000 25,000 SH   SOLE   25,000 0 0
TRINITY CAP INC COM 896442308   367,000 25,000 SH   SOLE   25,000 0 0
TRIUMPH FINANCIAL INC COM 89679E300   717,846 9,050 SH   SOLE   9,050 0 0
TRUIST FINL CORP COM 89832Q109   4,348,609 111,560 SH   SOLE   105,588 5,972 0
UMB FINL CORP COM 902788108   2,429,022 27,923 SH   SOLE   25,073 2,850 0
VALLEY NATL BANCORP COM 919794107   318,137 39,967 SH   SOLE   24,632 15,335 0
WEBSTER FINL CORP COM 947890109   2,608,055 51,370 SH   SOLE   46,275 5,095 0
WEST FRASER TIMBER CO LTD COM 952845105   717,369 8,300 SH   SOLE   8,300 0 0
WESTERN ALLIANCE BANCORP COM 957638109   3,382,877 52,701 SH   SOLE   49,844 2,857 0
WINTRUST FINL CORP COM 97650W108   3,728,602 35,718 SH   SOLE   32,124 3,594 0