Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
C	CITIGROUP INC	523,500	$36.66M	2.8%	$46.23	+14.4%	COM NEW	172967424
ZION	ZIONS BANCORPORATION N A	743,461	$34.18M	2.6%	$41.59	+11.2%	COM	989701107
LEN/B	LENNAR CORP	830,000	$31.96M	2.5%	$37.37	-5.5%	CL B	526057302
—	TCF FINL CORP	1,379,200	$28.67M	2.2%	$20.77	—	COM	872275102
MS	MORGAN STANLEY	646,200	$28.31M	2.2%	$33.21	+9.3%	COM NEW	617446448
—	CENTERSTATE BK CORP	1,109,187	$25.55M	2.0%	$20.01	—	COM	15201P109
ABCB	AMERIS BANCORP	625,091	$24.5M	1.9%	$34.61	-4.4%	COM	03076K108
KEY	KEYCORP NEW	1,368,470	$24.29M	1.9%	$10.97	+11.8%	COM	493267108
—	STERLING BANCORP DEL	1,100,066	$23.41M	1.8%	$22.69	—	COM	85917A100
FITB	FIFTH THIRD BANCORP	706,453	$19.71M	1.5%	$20.15	+4.5%	COM	316773100
IBCP	INDEPENDENT BANK CORP MICH	900,134	$19.61M	1.5%	$11.09	+49.1%	COM NEW	453838609
FFBC	FIRST FINL BANCORP OH	765,092	$18.53M	1.4%	$20.82	-12.9%	COM	320209109
ARES	ARES MANAGEMENT CORPORATION	653,400	$17.1M	1.3%	$17.18	+18.6%	CL A COM STK	03990B101
BKU	BANKUNITED INC	500,020	$16.87M	1.3%	$27.56	+0.2%	COM	06652K103
—	HOWARD HUGHES CORP	130,000	$16.1M	1.2%	$124.79	—	COM	44267D107
HOMB	HOME BANCSHARES INC	834,415	$16.07M	1.2%	$23.69	-21.3%	COM	436893200
RF	REGIONS FINL CORP NEW	990,246	$14.79M	1.1%	$12.00	-6.5%	COM	7591EP100
WAL	WESTERN ALLIANCE BANCORP	329,178	$14.72M	1.1%	$43.73	-11.4%	COM	957638109
—	UNITED FINL BANCORP INC NEW	1,022,600	$14.5M	1.1%	$13.94	—	COM	910304104
—	SYNOVUS FINL CORP	414,105	$14.49M	1.1%	$34.36	—	COM NEW	87161C501
—	ESSA BANCORP INC	942,522	$14.37M	1.1%	$13.94	—	COM	29667D104
SBNY	SIGNATURE BK NEW YORK N Y	115,623	$13.97M	1.1%	$131.64	—	COM	82669G104
FHB	FIRST HAWAIIAN INC	537,000	$13.89M	1.1%	$18.18	+7.4%	COM	32051X108
MTB	M & T BK CORP	80,004	$13.61M	1.1%	$132.69	+0.9%	COM	55261F104
KKR	KKR & CO INC	527,700	$13.34M	1.0%	$21.69	+2.7%	CL A	48251W104
FMBH	FIRST MID BANCSHARES INC	381,004	$13.3M	1.0%	$30.55	-7.2%	COM	320866106
—	SANDY SPRING BANCORP INC	380,043	$13.26M	1.0%	$37.99	—	COM	800363103
—	LUTHER BURBANK CORP	1,204,912	$13.12M	1.0%	$11.30	—	COM	550550107
COF	CAPITAL ONE FINL CORP	143,900	$13.06M	1.0%	$74.01	+7.9%	COM	14040H105
—	FIRST MIDWEST BANCORP DEL	616,168	$12.61M	1.0%	$20.03	—	COM	320867104
VCTR	VICTORY CAP HLDGS INC	721,349	$12.39M	1.0%	$12.06	+15.7%	COM CL A	92645B103
—	BOSTON PRIVATE FINL HLDGS IN	1,002,228	$12.1M	0.9%	$12.07	—	COM	101119105
—	HARBORONE BANCORP INC	642,065	$12.03M	0.9%	$17.41	—	COM	41165F101
—	COMMUNITY BANKERS TR CORP	1,387,423	$11.75M	0.9%	$6.81	—	COM	203612106
—	INVESTORS BANCORP INC NEW	1,027,054	$11.45M	0.9%	$13.30	—	COM	46146L101
GS	GOLDMAN SACHS GROUP INC	55,700	$11.4M	0.9%	$165.55	+2.1%	COM	38141G104
—	UNITED CMNTY FINL CORP OHIO	1,186,400	$11.35M	0.9%	$6.36	—	COM	909839102
—	CADENCE BANCORPORATION	530,176	$11.03M	0.9%	$19.03	—	CL A	12739A100
—	LAKELAND BANCORP INC	672,729	$10.87M	0.8%	$18.38	—	COM	511637100
FMNB	FARMERS NATL BANC CORP	723,200	$10.72M	0.8%	$11.02	-3.2%	COM	309627107
—	EVANS BANCORP INC	274,691	$10.36M	0.8%	$24.26	—	COM NEW	29911Q208
BAC	BANK AMER CORP	346,200	$10.04M	0.8%	$21.83	+12.2%	COM	060505104
WSFS	WSFS FINL CORP	240,751	$9.943M	0.8%	$42.90	-3.4%	COM	929328102
CFG	CITIZENS FINL GROUP INC	276,040	$9.761M	0.8%	$28.63	-9.1%	COM	174610105
HTB	HOMETRUST BANCSHARES INC	375,157	$9.431M	0.7%	$20.07	+25.3%	COM	437872104
—	BLACK KNIGHT INC	155,300	$9.341M	0.7%	$57.34	—	COM	09215C105
QNBC	QNB Corporation	250,000	$9.25M	0.7%	$42.01	-11.3%	Not 13-F Security	74726N107
—	CODORUS VY BANCORP INC	396,281	$9.114M	0.7%	$24.54	—	COM	192025104
QCRH	QCR HOLDINGS INC	260,040	$9.068M	0.7%	$42.60	-22.7%	COM	74727A104
OSBC	OLD SECOND BANCORP INC ILL	693,802	$8.86M	0.7%	$10.03	+18.5%	COM	680277100
FIS	FIDELITY NATL INFORMATION SV	71,600	$8.784M	0.7%	$103.29	0.0%	COM	31620M106
—	E TRADE FINANCIAL CORP	191,600	$8.545M	0.7%	$44.04	—	COM NEW	269246401
ISTR	INVESTAR HLDG CORP	354,548	$8.456M	0.7%	$21.79	+6.9%	COM	46134L105
—	CIVISTA BANCSHARES INC	124,740	$8.416M	0.7%	$37.28	—	6.50% PFD SER B	178867206
V	VISA INC	47,300	$8.209M	0.6%	$156.33	0.0%	COM CL A	92826C839
CIVB	CIVISTA BANCSHARES INC	350,000	$7.858M	0.6%	$16.92	+6.3%	COM NO PAR	178867107
—	STERLING BANCORP INC	779,200	$7.769M	0.6%	$12.85	—	COM	85917W102
CNNE	CANNAE HLDGS INC	260,000	$7.535M	0.6%	$19.00	+32.0%	COM	13765N107
—	OLD LINE BANCSHARES INC	280,000	$7.451M	0.6%	$32.02	—	COM	67984M100
MC	MOELIS & CO	212,400	$7.423M	0.6%	$22.98	0.0%	CL A	60786M105
INBK	FIRST INTERNET BANCORP	332,700	$7.166M	0.6%	$21.53	-1.1%	COM	320557101
SYF	SYNCHRONY FINL	206,300	$7.152M	0.6%	$25.35	+13.4%	COM	87165B103
HTH	HILLTOP HOLDINGS INC	336,139	$7.15M	0.6%	$20.85	-3.3%	COM	432748101
CZWI	CITIZENS CMNTY BANCORP INC M	659,026	$7.144M	0.6%	$11.92	-16.1%	COM	174903104
—	Bay Banks of Virginia, Inc.	869,829	$7.089M	0.5%	$5.70	—	Not 13-F Security	072035108
EFSC	ENTERPRISE FINL SVCS CORP	170,072	$7.075M	0.5%	$37.00	-1.6%	COM	293712105
VLY	VALLEY NATL BANCORP	653,473	$7.044M	0.5%	$12.09	-15.2%	COM	919794107
—	AMERICAN NATL BANKSHARES INC	181,200	$7.022M	0.5%	$37.20	—	COM	027745108
SPFI	SOUTH PLAINS FINANCIAL INC	425,000	$7.013M	0.5%	$17.65	0.0%	COM	83946P107
—	FIRST BANCSHARES INC MS	228,400	$6.93M	0.5%	$28.83	—	COM	318916103
FNF	FIDELITY NATIONAL FINANCIAL	171,500	$6.911M	0.5%	$24.83	+13.5%	FNF GROUP COM	31620R303
TFSL	TFS FINL CORP	380,100	$6.868M	0.5%	$9.10	+14.4%	COM	87240R107
IROQ	IF BANCORP INC	325,174	$6.799M	0.5%	$16.60	+21.7%	COM	44951J105
PFBC	PREFERRED BK LOS ANGELES CA	142,848	$6.75M	0.5%	$33.22	+41.4%	COM NEW	740367404
FISV	FISERV INC	74,000	$6.746M	0.5%	$82.51	+6.2%	COM	337738108
ASB	ASSOCIATED BANC CORP	300,093	$6.344M	0.5%	$17.05	-2.4%	COM	045487105
—	AMERICAN RIVER BANKSHARES	503,786	$6.176M	0.5%	$9.42	—	COM	029326105
—	TERRITORIAL BANCORP INC	197,300	$6.097M	0.5%	$26.33	—	COM	88145X108
CMA	COMERICA INC	83,650	$6.076M	0.5%	$47.20	+13.8%	COM	200340107
—	CENTURY BANCORP INC MASS	68,594	$6.029M	0.5%	$46.20	—	CL A NON VTG	156432106
CCNE	CNB FINL CORP PA	207,399	$5.857M	0.5%	$22.25	-1.2%	COM	126128107
BSVN	BANK7 CORP	316,116	$5.845M	0.5%	$15.59	-9.0%	COM	06652N107
EWBC	EAST WEST BANCORP INC	118,365	$5.536M	0.4%	$49.15	-18.1%	COM	27579R104
HOPE	HOPE BANCORP INC	395,164	$5.445M	0.4%	$17.60	-22.5%	COM	43940T109
—	HMN FINL INC	254,491	$5.344M	0.4%	$17.76	—	COM	40424G108
ORRF	ORRSTOWN FINL SVCS INC	238,308	$5.24M	0.4%	$16.42	-0.1%	COM	687380105
—	TWO RIV BANCORP	358,010	$5.141M	0.4%	$16.11	—	COM	90207C105
—	STANDARD AVB FINL CORP	183,987	$5.049M	0.4%	$28.27	—	COM	85303B100
JPM	JPMORGAN CHASE & CO	45,000	$5.031M	0.4%	$85.34	+7.8%	COM	46625H100
—	PACIFIC PREMIER BANCORP	162,846	$5.029M	0.4%	$27.40	—	COM	69478X105
BANC	BANC OF CALIFORNIA INC	355,159	$4.962M	0.4%	$16.14	-24.2%	COM	05990K106
ALRS	Alerus Financial Corp	260,000	$4.914M	0.4%	$16.53	-7.8%	Not 13-F Security	01446U103
PYPL	PAYPAL HLDGS INC	42,500	$4.865M	0.4%	$73.28	+50.9%	COM	70450Y103
FISI	FINANCIAL INSTNS INC	160,000	$4.664M	0.4%	$20.21	-0.0%	COM	317585404
CBNK	CAPITAL BANCORP INC MD	377,099	$4.638M	0.4%	$11.79	-6.1%	COM	139737100
—	HEARTLAND FINL USA INC	100,033	$4.474M	0.3%	$43.79	—	COM	42234Q102
WRIV	White River Bancshares Company	68,000	$4.466M	0.3%	$37.84	-5.2%	Not 13-F Security	96445A108
EVTC	EVERTEC INC	135,000	$4.415M	0.3%	$27.70	+2.4%	COM	30040P103
CNOB	CONNECTONE BANCORP INC NEW	194,429	$4.406M	0.3%	$19.88	-8.7%	COM	20786W107
MRBK	MERIDIAN CORPORATION	245,976	$4.157M	0.3%	$7.19	-6.9%	COM	58958P104
—	PINNACLE FINL PARTNERS INC	72,300	$4.156M	0.3%	$58.49	—	COM	72346Q104
SFBS	SERVISFIRST BANCSHARES INC	120,067	$4.113M	0.3%	$30.72	-3.1%	COM	81768T108
—	PB BANCORP INC	340,447	$4.034M	0.3%	$8.72	—	COM	70454T100
—	SVB FINL GROUP	17,913	$4.023M	0.3%	$214.14	—	COM	78486Q101
TFIN	TRIUMPH BANCORP INC	138,000	$4.009M	0.3%	$34.90	-14.6%	COM	89679E300
BFST	BUSINESS FIRST BANCSHARES IN	155,826	$3.966M	0.3%	$21.36	+0.1%	COM	12326C105
OTTW	OTTAWA BANCORP INC	300,200	$3.915M	0.3%	$9.10	+15.4%	COM	689195105
—	BRYN MAWR BK CORP	104,300	$3.892M	0.3%	$38.66	—	COM	117665109
TMHC	TAYLOR MORRISON HOME CORP	182,300	$3.821M	0.3%	$21.76	-8.6%	COM	87724P106
—	SOUTHERN NATL BANCORP OF VA	249,400	$3.818M	0.3%	$16.36	—	COM	843395104
PIPR	PIPER JAFFRAY COS	51,200	$3.803M	0.3%	$76.80	-1.6%	COM	724078100
RBB	RBB BANCORP	194,141	$3.755M	0.3%	$22.15	-12.8%	COM	74930B105
EQFN	Equitable Financial Corp.	312,600	$3.72M	0.3%	$8.46	+41.2%	Not 13-F Security	29448T105
SHBI	SHORE BANCSHARES INC	227,300	$3.714M	0.3%	$17.71	-12.0%	COM	825107105
TPH	TRI POINTE GROUP INC	306,000	$3.663M	0.3%	$12.82	+1.6%	COM	87265H109
BXMT	BLACKSTONE MTG TR INC	100,000	$3.558M	0.3%	$35.58	—	COM CL A	09257W100
—	Revere Bank	121,100	$3.354M	0.3%	$30.43	—	Not 13-F Security	761402106
—	FNCB BANCORP INC	430,000	$3.328M	0.3%	$7.70	—	COM	302578109
—	INDEPENDENT BK GROUP INC	60,310	$3.315M	0.3%	$51.28	—	COM	45384B106
—	SANTANDER CONSUMER USA HDG I	136,600	$3.273M	0.3%	$23.96	—	COM	80283M101
ESQ	ESQUIRE FINL HLDGS INC	128,700	$3.237M	0.3%	$14.70	+54.4%	COM	29667J101
HTBK	HERITAGE COMMERCE CORP	257,371	$3.153M	0.2%	$15.32	-19.7%	COM	426927109
FVCB	FVCBANKCORP INC	160,000	$3.107M	0.2%	$15.04	-8.6%	COM	36120Q101
—	HOWARD BANCORP INC	200,000	$3.034M	0.2%	$18.18	—	COM	442496105
—	PACIFIC CITY FINANCIAL CORP	177,100	$3.018M	0.2%	$19.34	—	COM NEW	69406T408
—	MB Bancorp, Inc.	188,500	$2.997M	0.2%	$11.06	—	Not 13-F Security	55280E104
—	White River Bancshares Company- Non Voting	45,113	$2.963M	0.2%	$64.69	—	Not 13-F Security	9B999WRBC
RRBI	RED RIVER BANCSHARES INC	60,000	$2.907M	0.2%	$48.87	0.0%	COM	75686R202
PLBC	PLUMAS BANCORP	119,311	$2.899M	0.2%	$22.59	+9.2%	COM	729273102
WSBC	WESBANCO INC	73,700	$2.841M	0.2%	$38.50	0.0%	COM	950810101
UVSP	UNIVEST FINANCIAL CORPORATIO	106,828	$2.805M	0.2%	$24.65	+1.8%	COM	915271100
—	MERIDIAN BANCORP INC MD	156,800	$2.805M	0.2%	$17.89	—	COM	58958U103
PNC	PNC FINL SVCS GROUP INC	20,000	$2.746M	0.2%	$104.11	0.0%	COM	693475105
FCCO	FIRST CMNTY CORP S C	147,700	$2.734M	0.2%	$15.41	-0.9%	COM	319835104
PROV	PROVIDENT FINL HLDGS INC	128,055	$2.688M	0.2%	$17.80	+14.1%	COM	743868101
FOR	FORESTAR GROUP INC	137,173	$2.682M	0.2%	$18.45	0.0%	COM	346232101
—	PDL CMNTY BANCORP	183,193	$2.618M	0.2%	$13.93	—	COM	69290X101
VYX	NCR CORP NEW	84,100	$2.616M	0.2%	$18.59	0.0%	COM	62886E108
FCNCA	FIRST CTZNS BANCSHARES INC N	5,800	$2.612M	0.2%	$422.19	+1.3%	CL A	31946M103
RBKB	RHINEBECK BANCORP INC	229,383	$2.528M	0.2%	$11.49	-0.9%	COM	762093102
BOTJ	BANK OF THE ST JAMES FINL GP	167,800	$2.477M	0.2%	$8.74	+24.3%	COM	470299108
OPBK	OP BANCORP	223,200	$2.419M	0.2%	$10.60	-8.6%	COM	67109R109
FSFG	FIRST SAVINGS FINL GROUP INC	40,156	$2.409M	0.2%	$15.36	+6.7%	COM	33621E109
PEBK	PEOPLES BANCORP N C INC	79,310	$2.383M	0.2%	$28.10	-1.7%	COM	710577107
—	MELROSE BANCORP INC	129,132	$2.328M	0.2%	$13.31	—	COM	585553100
PJT	PJT PARTNERS INC	57,200	$2.318M	0.2%	$38.44	-3.1%	COM CL A	69343T107
—	PRUDENTIAL BANCORP INC NEW	116,267	$2.2M	0.2%	$17.83	—	COM	74431A101
FRME	FIRST MERCHANTS CORP	57,977	$2.197M	0.2%	$29.19	0.0%	COM	320817109
—	Central Federal Bancshares, Inc.	158,300	$2.058M	0.2%	$10.84	—	Not 13-F Security	15346T107
MSVB	MID SOUTHERN BANCORP INC	159,278	$2.008M	0.2%	$12.74	—	COM	59548Q107
—	Blackhawk Bancorp, Inc.	70,000	$1.916M	0.1%	$20.57	—	Not 13-F Security	09237E204
—	New Bancorp, Inc.	66,200	$1.841M	0.1%	$13.00	—	Not 13-F Security	642142103
FUNC	FIRST UTD CORP	86,600	$1.707M	0.1%	$13.53	+8.9%	COM	33741H107
BPOP	POPULAR INC	30,000	$1.627M	0.1%	$44.72	0.0%	COM NEW	733174700
—	COREPOINT LODGING INC	123,500	$1.53M	0.1%	$11.17	—	COM	21872L104
FFBB	Communities First Financial Corporation	60,367	$1.512M	0.1%	$16.83	+48.0%	Not 13-F Security	20344D104
WLFC	WILLIS LEASE FINANCE CORP	25,000	$1.458M	0.1%	$14.76	+243.0%	COM	970646105
MA	MASTERCARD INC	5,400	$1.428M	0.1%	$241.35	0.0%	CL A	57636Q104
LCNB	LCNB CORP	74,879	$1.423M	0.1%	$11.79	+3.9%	COM	50181P100
—	SB FINL GROUP INC	81,466	$1.311M	0.1%	$12.41	—	DEP SHS PFD 6.5%	78408D204
EBMT	EAGLE BANCORP MONT INC	75,444	$1.252M	0.1%	$15.95	-14.1%	COM	26942G100
SMBC	SOUTHERN MO BANCORP INC	35,600	$1.24M	0.1%	$20.22	+43.2%	COM	843380106
—	GUARANTY BANCSHARES INC TEX	39,700	$1.237M	0.1%	$31.16	—	COM	400764106
—	CORTLAND BANCORP	52,638	$1.216M	0.1%	$22.63	—	COM	220587109
MFGI	Merchants Financial Group Inc.	16,500	$1.196M	0.1%	$19.96	+5.2%	Not 13-F Security	588538108
—	West End Indiana Bancshares, Inc.	41,585	$1.081M	0.1%	$23.20	—	Not 13-F Security	952678100
—	VERITEX HLDGS INC	40,249	$1.044M	0.1%	$24.22	—	COM	923451108
—	GUARANTY FED BANCSHARES INC	42,764	$994K	0.1%	$15.25	—	COM	40108P101
HBCP	HOME BANCORP INC	25,000	$962K	0.1%	$30.32	0.0%	COM	43689E107
—	COMMUNITY FIRST BANCSHARES I	92,523	$919K	0.1%	$10.80	—	COM	20369M104
EVR	EVERCORE INC	10,000	$886K	0.1%	$75.30	+1.9%	CLASS A	29977A105
—	Best Hometown Bancorp, Inc.	80,000	$880K	0.1%	$11.42	—	Not 13-F Security	08652N103
FIEB	First IC Corporation	99,754	$828K	0.1%	$8.40	—	Not 13-F Security	32058J102
—	Sunnyside Bancorp, Inc.	64,871	$827K	0.1%	$10.20	—	Not 13-F Security	867475105
—	Sugar Creek Financial Corporation	77,375	$809K	0.1%	$10.13	—	Not 13-F Security	86481Y102
MBIN	MERCHANTS BANCORP IND	45,000	$766K	0.1%	$12.66	0.0%	COM	58844R108
OVLY	OAK VALLEY BANCORP OAKDALE C	38,640	$755K	0.1%	$13.18	+45.4%	COM	671807105
MSBI	MIDLAND STS BANCORP INC ILL	25,000	$668K	0.1%	$18.06	0.0%	COM	597742105
AUB	ATLANTIC UN BANKSHARES CORP	17,101	$604K	0.0%	$27.30	0.0%	COM	04911A107
—	BRIDGE BANCORP INC	20,000	$589K	0.0%	$29.45	—	COM	108035106
HRGG	Heritage Nola Bancorp, Inc.	46,053	$589K	0.0%	$12.08	+6.5%	Not 13-F Security	42727P108
CPKF	Chesapeake Financial Shares, Inc.	19,086	$500K	0.0%	$19.54	-5.5%	Not 13-F Security	16517A109
—	LIMESTONE BANCORP INC	29,154	$445K	0.0%	$15.21	—	COM	53262L105
CIZN	CITIZENS HLDG CO MISS	10,348	$213K	0.0%	$15.89	-2.7%	COM	174715102
—	Choice Bancorp, Inc.	6,100	$189K	0.0%	$30.98	—	Not 13-F Security	17037X108
—	PEOPLES UTAH BANCORP	4,900	$144K	0.0%	$26.37	—	COM	712706209
—	Pioneer Bancshares, Inc.	4,028	$107K	0.0%	$24.58	—	Not 13-F Security	72357G102
KRE	SPDR SERIES TRUST	1,856	$99,000	0.0%	$56.88	—	S&P REGL BKG	78464A698
TCBI	TEXAS CAPITAL BANCSHARES INC	48	$3,000	0.0%	$60.77	0.0%	COM	88224Q107