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
ALLEGHANY CORP DEL COM 017175100 13,660 23,757 SH   SOLE   23,757 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 1,649 38,030 SH   SOLE   38,030 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 17,527 163,299 SH   SOLE   163,299 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 20,271 382,320 SH   SOLE   382,320 0 0
AMERIPRISE FINL INC COM 03076C106 25,312 180,952 SH   SOLE   180,952 0 0
AON PLC SHS CL A G0408V102 21,356 155,693 SH   SOLE   155,693 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 22,057 541,929 SH   SOLE   541,929 0 0
ASSOCIATED BANC CORP COM 045487105 5,284 193,563 SH   SOLE   193,563 0 0
ATHENE HLDG LTD CL A G0684D107 31,220 712,136 SH   SOLE   712,136 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 1,894 96,392 SH   SOLE   96,392 0 0
AXA EQUITABLE HLDGS INC COM 054561105 25,673 1,245,663 SH   SOLE   1,245,663 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 26,521 476,827 SH   SOLE   476,827 0 0
BANK OF MARIN BANCORP COM 063425102 1,713 21,186 SH   SOLE   21,186 0 0
BANNER CORP COM NEW 06652V208 2,790 46,398 SH   SOLE   46,398 0 0
BOSTON PRIVATE FINL HLDGS IN COM 101119105 3,170 199,350 SH   SOLE   199,350 0 0
BRIDGE BANCORP INC COM 108035106 1,579 43,922 SH   SOLE   43,922 0 0
CAPITAL ONE FINL CORP COM 14040H105 24,036 261,545 SH   SOLE   261,545 0 0
CBTX INC COM 12481V104 1,155 34,959 SH   SOLE   34,959 0 0
CITIZENS FINL GROUP INC COM 174610105 18,229 468,620 SH   SOLE   468,620 0 0
CME GROUP INC COM CL A 12572Q105 9,127 55,677 SH   SOLE   55,677 0 0
COMERICA INC COM 200340107 17,971 197,655 SH   SOLE   197,655 0 0
CURO GROUP HLDGS CORP COM 23131L107 5,881 235,703 SH   SOLE   235,703 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 11,350 185,578 SH   SOLE   185,578 0 0
EVERQUOTE INC COM CL A 30041R108 1,942 107,179 SH   SOLE   107,179 0 0
FGL HLDGS ORD SHS G3402M102 6,967 830,368 SH   SOLE   830,368 0 0
FIRST HORIZON NATL CORP COM 320517105 14,038 786,911 SH   SOLE   786,911 0 0
GALLAGHER ARTHUR J & CO COM 363576109 20,575 315,184 SH   SOLE   315,184 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 7,471 33,871 SH   SOLE   33,871 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 17,749 380,463 SH   SOLE   380,463 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 29,271 572,475 SH   SOLE   572,475 0 0
IBERIABANK CORP COM 450828108 14,068 185,591 SH   SOLE   185,591 0 0
KEYCORP NEW COM 493267108 25,431 1,301,471 SH   SOLE   1,301,471 0 0
M & T BK CORP COM 55261F104 20,715 121,745 SH   SOLE   121,745 0 0
MGIC INVT CORP WIS COM 552848103 16,294 1,519,998 SH   SOLE   1,519,998 0 0
NASDAQ INC COM 631103108 13,211 144,750 SH   SOLE   144,750 0 0
NORTHERN TR CORP COM 665859104 19,201 186,619 SH   SOLE   186,619 0 0
OLD SECOND BANCORP INC ILL COM 680277100 1,846 128,226 SH   SOLE   128,226 0 0
ONEMAIN HLDGS INC COM 68268W103 16,989 510,339 SH   SOLE   510,339 0 0
OPUS BK IRVINE CALIF COM 684000102 3,025 105,410 SH   SOLE   105,410 0 0
PACWEST BANCORP DEL COM 695263103 10,822 218,976 SH   SOLE   218,976 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 14,070 777,780 SH   SOLE   777,780 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 12,081 196,912 SH   SOLE   196,912 0 0
POPULAR INC COM NEW 733174700 8,028 177,568 SH   SOLE   177,568 0 0
PROVIDENT FINL SVCS INC COM 74386T105 2,689 97,658 SH   SOLE   97,658 0 0
RADIAN GROUP INC COM 750236101 6,292 387,887 SH   SOLE   387,887 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 9,534 106,707 SH   SOLE   106,707 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 13,779 721,808 SH   SOLE   721,808 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 13,409 104,858 SH   SOLE   104,858 0 0
SPIRIT OF TEX BANCSHARES INC COM 84861D103 391 18,992 SH   SOLE   18,992 0 0
SVB FINL GROUP COM 78486Q101 9,085 31,462 SH   SOLE   31,462 0 0
SYNOVUS FINL CORP COM NEW 87161C501 12,761 241,542 SH   SOLE   241,542 0 0
VOYA FINL INC COM 929089100 25,190 535,962 SH   SOLE   535,962 0 0
WELLS FARGO CO NEW COM 949746101 14,302 257,972 SH   SOLE   257,972 0 0
WINTRUST FINL CORP COM 97650W108 13,722 157,635 SH   SOLE   157,635 0 0