Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FCNCA	FIRST CTZNS BANCSHARES INC N	2,726	$4.59M	3.4%	$1683.61	$711.06	+133.7%	CL A	31946M103
FHN	FIRST HORIZON CORPORATION	286,458	$4.517M	3.3%	$15.77 *	$12.41	+15.5%	COM	320517105
NBBK	NB BANCORP INC	269,996	$4.072M	3.0%	$15.08 *	$13.78	+5.7%	COM	63945M107
CCB	COASTAL FINL CORP WA	87,283	$4.027M	3.0%	$46.14 *	$22.60	+86.1%	COM NEW	19046P209
CNNE	CANNAE HLDGS INC	219,035	$3.973M	2.9%	$18.14	$19.56	-5.4%	COM	13765N107
—	SANDY SPRING BANCORP INC	157,760	$3.843M	2.8%	$24.36	$25.38	—	COM	800363103
GNW	GENWORTH FINL INC	585,800	$3.538M	2.6%	$6.04 *	$5.74	+8.4%	COM SHS	37247D106
CARE	CARTER BANKSHARES INC	213,414	$3.227M	2.4%	$15.12 *	$12.51	0.0%	COM NEW	146103106
OSBC	OLD SECOND BANCORP INC ILL	217,871	$3.227M	2.4%	$14.81 *	$12.93	+6.0%	COM	680277100
BPOP	POPULAR INC	36,254	$3.206M	2.4%	$88.43 *	$74.34	+11.7%	COM NEW	733174700
TFC	TRUIST FINL CORP	79,373	$3.084M	2.3%	$38.85 *	$28.22	+23.8%	COM	89832Q109
HTB	HOMETRUST BANCSHARES INC	102,458	$3.077M	2.3%	$30.03 *	$25.09	+7.4%	COM	437872104
WTFC	WINTRUST FINL CORP	31,140	$3.069M	2.3%	$98.56	$78.99	+24.0%	COM	97650W108
EFSC	ENTERPRISE FINL SVCS CORP	74,907	$3.064M	2.3%	$40.91 *	$44.99	-16.8%	COM	293712105
PFS	PROVIDENT FINL SVCS INC	205,230	$2.945M	2.2%	$14.35 *	$13.62	-2.6%	COM	74386T105
—	FIRST BANCSHARES INC MS	110,455	$2.87M	2.1%	$25.98	$27.10	—	COM	318916103
WAL	WESTERN ALLIANCE BANCORP	45,216	$2.84M	2.1%	$62.82 *	$38.22	+52.7%	COM	957638109
MBIN	MERCHANTS BANCORP IND	68,575	$2.78M	2.1%	$40.54	$38.15	+5.6%	COM	58844R108
BHRB	BURKE HERBERT FINL SVCS CORP	54,098	$2.758M	2.0%	$50.98 *	$47.69	0.0%	COM	12135Y108
—	PREMIER FINANCIAL CORP	133,987	$2.741M	2.0%	$20.46	$21.10	—	COM	74052F108
—	SYNOVUS FINL CORP	65,390	$2.628M	1.9%	$40.19	$41.28	—	COM NEW	87161C501
BCS	BARCLAYS PLC	225,000	$2.41M	1.8%	$10.71	$9.59	—	ADR	06738E204
COF	CAPITAL ONE FINL CORP	17,114	$2.369M	1.8%	$138.45	$102.67	+33.6%	COM	14040H105
AAMI	BRIGHTSPHERE INVT GROUP INC	98,116	$2.175M	1.6%	$22.17	$21.14	+6.5%	COM	10948W103
—	INDEPENDENT BANK GROUP INC	45,507	$2.071M	1.5%	$45.52	$46.96	—	COM	45384B106
ONB	OLD NATL BANCORP IND	119,814	$2.06M	1.5%	$17.19 *	$17.25	-3.7%	COM	680033107
WBS	WEBSTER FINL CORP	44,596	$1.944M	1.4%	$43.59 *	$46.58	-4.4%	COM	947890109
OPY	OPPENHEIMER HLDGS INC	40,000	$1.916M	1.4%	$47.91 *	$38.48	+11.0%	CL A NON VTG	683797104
HTBK	HERITAGE COMM CORP	211,048	$1.836M	1.4%	$8.70 *	$8.57	-5.0%	COM	426927109
UMBF	UMB FINL CORP	21,981	$1.834M	1.4%	$83.42	$59.67	+37.4%	COM	902788108
FSBC	FIVE STAR BANCORP	77,149	$1.825M	1.4%	$23.65 *	$22.56	-5.4%	COM	33830T103
CUBI	CUSTOMERS BANCORP INC	37,113	$1.781M	1.3%	$47.98	$26.28	+79.6%	COM	23204G100
AX	AXOS FINANCIAL INC	30,943	$1.768M	1.3%	$57.15 *	$41.23	+31.9%	COM	05465C100
ECPG	ENCORE CAP GROUP INC	41,794	$1.744M	1.3%	$41.73 *	$53.39	-19.2%	COM	292554102
—	PACIFIC PREMIER BANCORP	71,847	$1.65M	1.2%	$22.97	$22.97	—	COM	69478X105
—	PINNACLE FINL PARTNERS INC	20,065	$1.606M	1.2%	$80.04	$55.16	—	COM	72346Q104
OSPN	ONESPAN INC	124,445	$1.595M	1.2%	$12.82 *	$9.56	+21.8%	COM	68287N100
KEY	KEYCORP	96,939	$1.378M	1.0%	$14.21 *	$10.92	+22.7%	COM	493267108
SLM	SLM CORP	63,403	$1.318M	1.0%	$20.79	$15.31	+37.6%	COM	78442P106
COKE	COCA COLA CONS INC	1,170	$1.269M	0.9%	$1085.00 *	$91.44	0.0%	COM	191098102
EQH	EQUITABLE HLDGS INC	30,515	$1.247M	0.9%	$40.86 *	$27.27	+38.5%	COM	29452E101
FNB	F N B CORP	84,895	$1.161M	0.9%	$13.68 *	$10.86	+17.6%	COM	302520101
OPHC	OPTIMUMBANK HLDGS INC	256,410	$1.103M	0.8%	$4.30	$4.37	-1.8%	COM	68401P403
EWBC	EAST WEST BANCORP INC	14,695	$1.076M	0.8%	$73.23 *	$47.61	+48.7%	COM	27579R104
JXN	JACKSON FINANCIAL INC	13,931	$1.035M	0.8%	$74.26 *	$34.16	+97.3%	COM CL A	46817M107
—	THE ODP CORP	24,000	$942K	0.7%	$39.27	$40.36	—	COM	88337F105
PGY	PAGAYA TECHNOLOGIES LTD	69,166	$883K	0.7%	$12.76 *	$12.80	-12.3%	CL A NEW	M7S64L123
LNKB	LINKBANCORP INC	130,378	$798K	0.6%	$6.12	$6.65	-9.8%	COM	53578P105
—	STEEL PARTNERS HLDGS L P	20,240	$754K	0.6%	$37.23	$41.92	—	LTD PRTRSHIP U	85814R107
TFIN	TRIUMPH FINANCIAL INC	9,050	$740K	0.5%	$81.75 *	$60.86	+22.4%	COM	89679E300
FUNC	FIRST UTD CORP	35,985	$735K	0.5%	$20.42	$15.83	+28.6%	COM	33741H107
BCAL	SOUTHERN CALIF BANCORP	54,461	$734K	0.5%	$13.47 *	$14.16	-2.4%	COM	84252A106
CRBG	COREBRIDGE FINL INC	25,000	$728K	0.5%	$29.12 *	$27.31	0.0%	COM	21871X109
HTH	HILLTOP HOLDINGS INC	21,400	$669K	0.5%	$31.28 *	$28.96	+4.9%	COM	432748101
—	SOUTHERN STS BANCSHARES INC	24,530	$666K	0.5%	$27.14	$27.14	—	COM	843878307
DBI	DESIGNER BRANDS INC	97,000	$663K	0.5%	$6.83 *	$8.84	-7.0%	CL A	250565108
HWC	HANCOCK WHITNEY CORPORATION	13,570	$649K	0.5%	$47.83 *	$51.95	-12.0%	COM	410120109
C	CITIGROUP INC	10,000	$635K	0.5%	$63.46 *	$42.37	+38.6%	COM NEW	172967424
PEBO	PEOPLES BANCORP INC	20,284	$609K	0.5%	$30.00 *	$32.36	-10.3%	COM	709789101
WFG	WEST FRASER TIMBER CO LTD	7,800	$600K	0.4%	$76.87 *	$82.40	-3.6%	COM	952845105
RRR	RED ROCK RESORTS INC	10,755	$591K	0.4%	$54.93	$51.01	+6.4%	CL A	75700L108
PGYWW	PAGAYA TECHNOLOGIES LTD	5,166,667	$585K	0.4%	$0.11	$0.38	—	*W EXP 99/99/999	M7S64L107
MCB	METROPOLITAN BK HLDG CORP	13,815	$581K	0.4%	$42.09 *	$45.50	-12.7%	COM	591774104
BWB	BRIDGEWATER BANCSHARES INC	49,628	$576K	0.4%	$11.61	$15.26	-25.1%	COM	108621103
BANC	BANC OF CALIFORNIA INC	44,946	$574K	0.4%	$12.78 *	$14.50	-8.9%	COM	05990K106
FITB	FIFTH THIRD BANCORP	15,628	$570K	0.4%	$36.49 *	$29.02	+18.2%	COM	316773100
OBK	ORIGIN BANCORP INC	17,515	$556K	0.4%	$31.72 *	$38.94	-21.4%	COM	68621T102
BTU	PEABODY ENERGY CORP	25,000	$553K	0.4%	$22.12	$22.57	-0.2%	COM	704551100
CMA	COMERICA INC	9,779	$499K	0.4%	$51.04 *	$52.77	-10.6%	COM	200340107
ET	ENERGY TRANSFER L P	30,000	$487K	0.4%	$16.22	$10.89	—	COM UT LTD PTN	29273V100
HFWA	HERITAGE FINL CORP WASH	26,970	$486K	0.4%	$18.03	$26.38	-32.0%	COM	42722X106
DVN	DEVON ENERGY CORP NEW	10,000	$474K	0.4%	$47.40	$43.39	+8.9%	COM	25179M103
OCFC	OCEANFIRST FINL CORP	28,720	$456K	0.3%	$15.89 *	$15.64	-11.2%	COM	675234108
QCRH	QCR HOLDINGS INC	7,317	$439K	0.3%	$60.00 *	$46.45	+22.4%	COM	74727A104
FRME	FIRST MERCHANTS CORP	12,759	$425K	0.3%	$33.29 *	$35.29	-11.0%	COM	320817109
STEL	STELLAR BANCORP INC	18,238	$419K	0.3%	$22.96	$30.96	-26.7%	COM	858927106
CNOB	CONNECTONE BANCORP INC	19,242	$363K	0.3%	$18.89 *	$19.07	-6.8%	COM	20786W107
NBHC	NATIONAL BK HLDGS CORP	8,808	$344K	0.3%	$39.05 *	$35.20	-4.1%	CL A	633707104
NVDA	NVIDIA CORPORATION	2,500	$309K	0.2%	$123.54 *	$101.05	0.0%	COM	67066G104
EFC	ELLINGTON FINANCIAL INC	25,000	$302K	0.2%	$12.08	$12.08	—	COM	28852N109
ABCB	AMERIS BANCORP	5,961	$300K	0.2%	$50.35 *	$32.02	+46.6%	COM	03076K108
SSSS	SURO CAPITAL CORP	72,711	$292K	0.2%	$4.01	$4.00	+0.1%	COM NEW	86887Q109
AMZN	AMAZON COM INC	1,500	$290K	0.2%	$193.25 *	$166.93	+10.1%	COM	023135106
IDCC	INTERDIGITAL INC	2,450	$286K	0.2%	$116.56 *	$74.35	+43.7%	COM	45867G101
GOOG	ALPHABET INC	1,500	$275K	0.2%	$183.42 *	$95.84	+76.2%	CAP STK CL C	02079K107
PAMT	P A M TRANSN SVCS INC	15,000	$261K	0.2%	$17.37 *	$16.14	0.0%	COM	693149106
TOST	TOAST INC	10,000	$258K	0.2%	$25.77 *	$20.70	+16.8%	CL A	888787108
VLY	VALLEY NATL BANCORP	36,096	$252K	0.2%	$6.98 *	$11.06	-34.0%	COM	919794107
SLB	SCHLUMBERGER LTD	5,000	$236K	0.2%	$47.18 *	$47.83	-3.9%	COM STK	806857108
SPG	SIMON PPTY GROUP INC NEW	1,500	$228K	0.2%	$151.80 *	$60.51	+124.0%	COM	828806109
PLD	PROLOGIS INC.	2,000	$225K	0.2%	$112.31 *	$104.11	+0.4%	COM	74340W103
BXP	BOSTON PROPERTIES INC	3,500	$215K	0.2%	$61.56 *	$59.55	-6.2%	COM	101121101
ASTL	ALGOMA STL GROUP INC	30,500	$212K	0.2%	$6.96 *	$8.24	-9.4%	COM	015658107
TRIN	TRINITY CAP INC	15,000	$212K	0.2%	$14.14 *	$8.23	+37.4%	COM	896442308
LYFT	LYFT INC	15,000	$212K	0.2%	$14.10 *	$16.24	0.0%	CL A COM	55087P104
SNOW	SNOWFLAKE INC	1,500	$203K	0.2%	$135.09 *	$147.69	0.0%	CL A	833445109
CMLS	CUMULUS MEDIA INC	84,508	$172K	0.1%	$2.04 *	$8.78	-70.5%	COM CL A	231082801
RIG	TRANSOCEAN LTD	25,000	$134K	0.1%	$5.35 *	$6.69	-13.6%	REGISTERED SHS	H8817H100
BRBS	BLUE RIDGE BANKSHARES INC VA	29,654	$77,397	0.1%	$2.61	$2.89	-8.7%	COM	095825105