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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLEGIANCE BANCSHARES INC COM 01748H107 1,374 35,105 SH   SOLE   35,105 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 11,759 104,781 SH   SOLE   104,781 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 22,261 409,060 SH   SOLE   409,060 0 0
ARES MGMT LP COM SHS REG INT 04014Y101 1,476 68,971 SH   SOLE   68,971 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 28,385 632,895 SH   SOLE   632,895 0 0
ASSOCIATED BANC CORP COM 045487105 4,441 178,699 SH   SOLE   178,699 0 0
ATHENE HLDG LTD CL A G0684D107 30,359 634,984 SH   SOLE   634,984 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 814 44,992 SH   SOLE   44,992 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 28,517 495,343 SH   SOLE   495,343 0 0
BANK OF MARIN BANCORP COM 063425102 1,354 19,636 SH   SOLE   19,636 0 0
BOK FINL CORP COM NEW 05561Q201 9,326 94,215 SH   SOLE   94,215 0 0
BOSTON PRIVATE FINL HLDGS IN COM 101119105 2,769 183,955 SH   SOLE   183,955 0 0
BRIDGE BANCORP INC COM 108035106 1,361 40,559 SH   SOLE   40,559 0 0
CBTX INC COM 12481V104 889 30,194 SH   SOLE   30,194 0 0
CIT GROUP INC COM NEW 125581801 19,254 373,858 SH   SOLE   373,858 0 0
CITIZENS FINL GROUP INC COM 174610105 23,733 565,350 SH   SOLE   565,350 0 0
CME GROUP INC COM CL A 12572Q105 9,875 61,052 SH   SOLE   61,052 0 0
COBIZ FINANCIAL INC COM 190897108 2,028 103,470 SH   SOLE   103,470 0 0
COMERICA INC COM 200340107 23,145 241,273 SH   SOLE   241,273 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 9,968 179,890 SH   SOLE   179,890 0 0
EVEREST RE GROUP LTD COM G3223R108 12,454 48,492 SH   SOLE   48,492 0 0
FCB FINL HLDGS INC CL A 30255G103 2,569 50,278 SH   SOLE   50,278 0 0
FGL HLDGS ORD SHS G3402M102 6,385 629,111 SH   SOLE   629,111 0 0
FIRST HORIZON NATL CORP COM 320517105 17,863 948,628 SH   SOLE   948,628 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 1,822 51,468 SH   SOLE   51,468 0 0
GALLAGHER ARTHUR J & CO COM 363576109 7,075 102,934 SH   SOLE   102,934 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 1,942 68,494 SH   SOLE   68,494 0 0
HANCOCK HLDG CO COM 410120109 11,807 228,380 SH   SOLE   228,380 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 9,975 193,609 SH   SOLE   193,609 0 0
HOME BANCSHARES INC COM 436893200 8,516 373,362 SH   SOLE   373,362 0 0
IBERIABANK CORP COM 450828108 15,315 196,350 SH   SOLE   196,350 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 6,710 92,523 SH   SOLE   92,523 0 0
KEYCORP NEW COM 493267108 15,455 790,558 SH   SOLE   790,558 0 0
MARSH & MCLENNAN COS INC COM 571748102 13,964 169,082 SH   SOLE   169,082 0 0
NORTHERN TR CORP COM 665859104 19,370 187,821 SH   SOLE   187,821 0 0
OLD SECOND BANCORP INC ILL COM 680277100 1,132 81,426 SH   SOLE   81,426 0 0
ONEMAIN HLDGS INC COM 68268W103 11,737 392,007 SH   SOLE   392,007 0 0
OP BANCORP COM 67109R109 311 25,000 SH   SOLE   25,000 0 0
OPUS BK IRVINE CALIF COM 684000102 2,724 97,283 SH   SOLE   97,283 0 0
PACWEST BANCORP DEL COM 695263103 4,489 90,639 SH   SOLE   90,639 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 4,428 237,306 SH   SOLE   237,306 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 12,441 193,780 SH   SOLE   193,780 0 0
PNC FINL SVCS GROUP INC COM 693475105 11,908 78,739 SH   SOLE   78,739 0 0
POPULAR INC COM NEW 733174700 8,524 204,816 SH   SOLE   204,816 0 0
PROVIDENT FINL SVCS INC COM 74386T105 2,307 90,142 SH   SOLE   90,142 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 10,365 635,896 SH   SOLE   635,896 0 0
STATE BK FINL CORP COM 856190103 2,303 76,743 SH   SOLE   76,743 0 0
SVB FINL GROUP COM 78486Q101 6,188 25,783 SH   SOLE   25,783 0 0
SYNOVUS FINL CORP COM NEW 87161C501 16,457 329,532 SH   SOLE   329,532 0 0
TCF FINL CORP COM 872275102 11,136 488,227 SH   SOLE   488,227 0 0
TORCHMARK CORP COM 891027104 10,318 122,582 SH   SOLE   122,582 0 0
VOYA FINL INC COM 929089100 35,496 702,895 SH   SOLE   702,895 0 0
WINTRUST FINL CORP COM 97650W108 9,344 108,586 SH   SOLE   108,586 0 0
ZIONS BANCORPORATION COM 989701107 21,167 401,429 SH   SOLE   401,429 0 0