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
ARLINGTON ASSET INVST CORP CL A NEW 041356205   3,328,021 777,575 SH   SOLE   661,895 0 115,680
AMBAC FINL GROUP INC COM NEW 023139884   1,464,506 121,435 SH   SOLE   100,000 0 21,435
AMERIPRISE FINL INC COM 03076C106   857,168 2,600 SH   SOLE   2,500 0 100
AMPCO-PITTSBURG CORP *W EXP 08/01/202 032037111   35,289 110,279 SH   SOLE   110,279 0 0
AXOS FINANCIAL INC COM 05465C100   5,553,305 146,680 SH   SOLE   125,500 0 21,180
BAYFIRST FINANCIAL CORP COM 07279B104   578,379 51,526 SH   SOLE   51,526 0 0
BANC OF CALIFORNIA INC COM 05990K106   3,043,004 245,800 SH   SOLE   243,300 0 2,500
BARCLAYS PLC ADR 06738E204   2,180,694 279,935 SH   SOLE   274,500 0 5,435
BUSINESS FIRST BANCSHARES IN COM 12326C105   793,210 42,282 SH   SOLE   40,497 0 1,785
POPULAR INC COM NEW 733174700   441,070 7,000 SH   SOLE   7,000 0 0
BRIDGEWATER BANCSHARES INC COM 108621103   1,363,489 143,828 SH   SOLE   92,000 0 51,828
CNB FINL CORP PA COM 126128107   1,050,688 58,017 SH   SOLE   58,017 0 0
CARLYLE GROUP INC COM 14316J108   4,993,742 165,575 SH   SOLE   143,000 0 22,575
CONNECTONE BANCORP INC COM 20786W107   1,623,725 91,067 SH   SOLE   67,952 0 23,115
DIME CMNTY BANCSHARES INC COM 25432X102   1,779,697 89,163 SH   SOLE   87,063 0 2,100
DELL TECHNOLOGIES INC CL C 24703L202   275,600 4,000 SH   SOLE   4,000 0 0
DOUBLELINE INCOME SOLUTIONS COM 258622109   125,170 10,680 SH   SOLE   0 0 10,680
ESQUIRE FINL HLDGS INC COM 29667J101   3,298,681 72,197 SH   SOLE   50,260 0 21,937
FIRST BUSINESS FINL SVCS INC COM 319390100   715,738 23,850 SH   SOLE   22,500 0 1,350
FIRST BANCORP P R COM NEW 318672706   6,401,845 475,620 SH   SOLE   415,300 0 60,320
FIRST CTZNS BANCSHARES INC N CL A 31946M103   11,823,317 8,567 SH   SOLE   7,471 0 1,096
FG GROUP HOLDINGS INC COM 302462106   44,407 26,433 SH   SOLE   0 0 26,433
FINANCIAL INSTNS INC COM 317585404   1,829,808 108,723 SH   SOLE   75,200 0 33,523
PGIM GLOBAL HIGH YIELD FD FO COM 69346J106   181,104 16,800 SH   SOLE   0 0 16,800
GENWORTH FINL INC COM CL A 37247D106   7,758,494 1,323,975 SH   SOLE   1,290,300 0 33,675
ANYWHERE REAL ESTATE INC COM 75605Y106   4,866,642 756,865 SH   SOLE   600,500 0 156,365
FIRST INTERNET BANCORP COM 320557101   938,397 57,890 SH   SOLE   40,000 0 17,890
ISHARES TR RUS 2000 VAL ETF 464287630   479,847 3,540 SH   SOLE   0 0 3,540
JUNIPER NETWORKS INC COM 48203R104   277,900 10,000 SH   SOLE   10,000 0 0
JACKSON FINANCIAL INC COM CL A 46817M107   6,822,270 178,500 SH   SOLE   156,300 0 22,200
KINGSTONE COS INC COM 496719105   650,991 363,682 SH   SOLE   314,164 0 49,518
KKR INCOME OPPORTUNITIES FD COM 48249T106   329,390 27,541 SH   SOLE   0 0 27,541
LAS VEGAS SANDS CORP COM 517834107   275,040 6,000 SH   SOLE   6,000 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107   733,820 1,607 SH   SOLE   0 0 1,607
META PLATFORMS INC CL A 30303M102   609,426 2,030 SH   SOLE   2,000 0 30
MELCO RESORTS AND ENTMNT LTD ADR 585464100   118,680 12,000 SH   SOLE   12,000 0 0
MERIDIAN CORPORATION COM 58958P104   1,142,215 116,612 SH   SOLE   93,898 0 22,714
FIRST WESTN FINL INC COM 33751L105   471,900 26,000 SH   SOLE   26,000 0 0
NAVIENT CORPORATION COM 63938C108   554,398 32,195 SH   SOLE   0 0 32,195
NORTHEAST BK LEWISTON ME COM 66405S100   4,824,320 109,395 SH   SOLE   92,000 0 17,395
OFG BANCORP COM 67103X102   6,203,863 207,765 SH   SOLE   180,255 0 27,510
ONEMAIN HLDGS INC COM 68268W103   4,600,127 114,745 SH   SOLE   93,200 0 21,545
OP BANCORP COM 67109R109   1,767,249 193,142 SH   SOLE   193,142 0 0
OLD SECOND BANCORP INC ILL COM 680277100   2,524,859 185,515 SH   SOLE   165,342 0 20,173
INVESCO EXCHANGE TRADED FD T BUYBACK ACHIEV 46137V308   843,559 9,376 SH   SOLE   0 0 9,376
PINNACLE FINL PARTNERS INC COM 72346Q104   5,831,139 86,980 SH   SOLE   71,000 0 15,980
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357   2,698,203 19,043 SH   SOLE   0 0 19,043
SLM CORP COM 78442P106   2,761,455 202,750 SH   SOLE   192,000 0 10,750
SOTHERLY HOTELS INC COM 83600C103   1,613,619 954,804 SH   SOLE   810,596 0 144,208
SUNCOKE ENERGY INC COM 86722A103   296,147 29,177 SH   SOLE   24,000 0 5,177
SYNCHRONY FINANCIAL COM 87165B103   387,933 12,690 SH   SOLE   12,600 0 90
TRUIST FINL CORP COM 89832Q109   1,919,702 67,099 SH   SOLE   58,000 0 9,099
UMB FINL CORP COM 902788108   6,250,421 100,732 SH   SOLE   88,662 0 12,070
UNITY BANCORP INC COM 913290102   546,036 23,305 SH   SOLE   23,305 0 0
VISA INC COM CL A 92826C839   525,803 2,286 SH   SOLE   1,900 0 386
VICTORY CAP HLDGS INC COM CL A 92645B103   2,660,599 79,802 SH   SOLE   75,317 0 4,485
VMWARE INC CL A COM 928563402   293,338 1,762 SH   SOLE   1,762 0 0
VIRTUS INVT PARTNERS INC COM 92828Q109   3,842,860 19,025 SH   SOLE   14,855 0 4,170
WESTERN ALLIANCE BANCORP COM 957638109   6,936,873 150,900 SH   SOLE   134,800 0 16,100
WARNER BROS DISCOVERY INC COM SER A 934423104   287,790 26,500 SH   SOLE   26,500 0 0
WEBSTER FINL CORP COM 947890109   3,079,684 76,400 SH   SOLE   74,400 0 2,000
WINTRUST FINL CORP COM 97650W108   385,126 5,101 SH   SOLE   5,101 0 0
UNITED STATES STL CORP NEW COM 912909108   365,400 11,250 SH   SOLE   11,250 0 0