Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
USB	US BANCORP DEL	530,500	$19.02M	4.5%	$35.85 *	$30.80	-6.0%	COM NEW	902973304
—	INDEPENDENT BK GROUP INC	429,596	$18.98M	4.5%	$44.18	$34.70	—	COM	45384B106
TFC	TRUIST FINL CORP	494,300	$18.81M	4.4%	$38.05 *	$27.81	+5.6%	COM	89832Q109
—	SVB FINANCIAL GROUP	76,888	$18.5M	4.4%	$240.62	$140.80	—	COM	78486Q101
WAL	WESTERN ALLIANCE BANCORP	541,300	$17.12M	4.0%	$31.62	$40.06	-20.8%	COM	957638109
—	PACIFIC PREMIER BANCORP	826,701	$16.65M	3.9%	$20.14	$25.21	—	COM	69478X105
FISV	FISERV INC	147,900	$15.24M	3.6%	$103.05 *	$100.22	-0.6%	COM	337738108
FIS	FIDELITY NATL INFORMATION SV	100,200	$14.75M	3.5%	$147.21 *	$111.34	+15.7%	COM	31620M106
PYPL	PAYPAL HLDGS INC	73,800	$14.54M	3.4%	$197.03 *	$90.72	+107.1%	COM	70450Y103
CFG	CITIZENS FINL GROUP INC	553,236	$13.99M	3.3%	$25.28 *	$24.80	-18.8%	COM	174610105
SYF	SYNCHRONY FINANCIAL	520,000	$13.61M	3.2%	$26.17 *	$21.42	0.0%	COM	87165B103
—	CADENCE BANCORPORATION	1,488,727	$12.79M	3.0%	$8.59	$12.58	—	CL A	12739A100
—	TCF FINL CORP	520,543	$12.16M	2.9%	$23.36	$35.74	—	COM	872307103
INBK	FIRST INTERNET BANCORP	803,283	$11.83M	2.8%	$14.73 *	$28.19	-45.9%	COM	320557101
BAC	BK OF AMERICA CORP	458,789	$11.05M	2.6%	$24.09 *	$17.05	+28.0%	COM	060505104
ZION	ZIONS BANCORPORATION N A	367,929	$10.75M	2.5%	$29.22 *	$28.05	+14.9%	COM	989701107
PB	PROSPERITY BANCSHARES INC	206,400	$10.7M	2.5%	$51.83 *	$50.83	-9.7%	COM	743606105
TFSL	TFS FINL CORP	724,602	$10.64M	2.5%	$14.69 *	$6.32	+51.5%	COM	87240R107
AGNC	AGNC INVT CORP	723,600	$10.06M	2.4%	$13.91	$10.58	—	COM	00123Q104
—	FIRST BANCSHARES INC MS	463,098	$9.711M	2.3%	$20.97	$23.47	—	COM	318916103
HWC	HANCOCK WHITNEY CORPORATION	498,168	$9.371M	2.2%	$18.81 *	$40.65	-51.8%	COM	410120109
—	VERITEX HLDGS INC	524,710	$8.936M	2.1%	$17.03	$25.25	—	COM	923451108
EWBC	EAST WEST BANCORP INC	268,165	$8.78M	2.1%	$32.74 *	$32.77	-6.4%	COM	27579R104
JPM	JPMORGAN CHASE & CO	90,000	$8.664M	2.0%	$96.27 *	$85.44	0.0%	COM	46625H100
RF	REGIONS FINANCIAL CORP NEW	710,982	$8.198M	1.9%	$11.53 *	$11.29	-20.6%	COM	7591EP100
HOMB	HOME BANCSHARES INC	483,300	$7.327M	1.7%	$15.16 *	$14.05	+14.4%	COM	436893200
ABCB	AMERIS BANCORP	315,500	$7.187M	1.7%	$22.78 *	$21.64	+0.8%	COM	03076K108
—	PACWEST BANCORP DEL	414,900	$7.086M	1.7%	$17.08	$17.08	—	COM	695263103
AX	AXOS FINANCIAL INC	297,997	$6.946M	1.6%	$23.31	$37.89	-39.7%	COM	05465C100
—	SOUTH ST CORP	142,390	$6.856M	1.6%	$48.15	$47.85	—	COM	840441109
FBP	FIRST BANCORP P R	1,212,521	$6.329M	1.5%	$5.22 *	$4.94	-4.8%	COM NEW	318672706
ISTR	INVESTAR HLDG CORP	484,175	$6.207M	1.5%	$12.82 *	$23.52	-42.0%	COM	46134L105
—	CAMBRIDGE BANCORP	115,871	$6.16M	1.4%	$53.16	$80.36	—	COM	132152109
PFBC	PREFERRED BK LOS ANGELES CA	180,902	$5.811M	1.4%	$32.12 *	$19.94	+87.3%	COM NEW	740367404
—	PINNACLE FINL PARTNERS INC	153,899	$5.477M	1.3%	$35.59	$37.62	—	COM	72346Q104
FNB	F N B CORP	805,791	$5.463M	1.3%	$6.78 *	$10.85	-45.0%	COM	302520101
UCB	UNITED CMNTY BKS BLAIRSVLE G	275,000	$4.656M	1.1%	$16.93 *	$18.00	0.0%	COM	90984P303
CNOB	CONNECTONE BANCORP INC	306,414	$4.311M	1.0%	$14.07 *	$16.90	-25.9%	COM	20786W107
OSBC	OLD SECOND BANCORP INC ILL	488,771	$3.663M	0.9%	$7.49	$6.64	+12.0%	COM	680277100
—	COMMUNITY BANKERS TR CORP	649,831	$3.301M	0.8%	$5.08	$3.75	—	COM	203612106
C	CITIGROUP INC	64,500	$2.781M	0.7%	$43.12 *	$47.68	-14.0%	COM NEW	172967424
—	SYNOVUS FINL CORP	115,090	$2.436M	0.6%	$21.17	$33.16	—	COM NEW	87161C501
OPBK	OP BANCORP	372,796	$2.132M	0.5%	$5.72 *	$10.42	-39.8%	COM	67109R109
SBFG	SB FINL GROUP INC	131,855	$1.779M	0.4%	$13.49	$17.35	-23.6%	COM	78408D105
—	1ST CONSTITUTION BANCORP	148,201	$1.764M	0.4%	$11.90	$19.59	—	COM	31986N102
WSFS	WSFS FINL CORP	60,000	$1.618M	0.4%	$26.97 *	$28.23	0.0%	COM	929328102
—	CBTX INC	48,700	$796K	0.2%	$16.34	$16.34	—	COM	12481V104
—	MACKINAC FINL CORP	34,104	$329K	0.1%	$9.65	$16.04	—	COM	554571109