Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	FB FINL CORP	1,973,411	$77.32M	6.8%	$34.34	—	COM	30257x104
TFIN	TRIUMPH BANCORP INC	1,382,608	$52.82M	4.7%	$39.37	+5.5%	COM	89679E300
ABCB	AMERIS BANCORP	858,701	$39.24M	3.5%	$46.74	-4.7%	COM	03076K108
FBNC	FIRST BANCORP N C	944,814	$38.27M	3.4%	$24.12	+45.9%	COM	318910106
—	INDEPENDENT BK GROUP INC	575,254	$38.14M	3.4%	$66.30	—	COM	45384b106
IWM	ISHARES TR	165,000	$27.81M	2.5%	—	—	Put	464287655
—	OPUS BK IRVINE CALIF	1,011,115	$27.7M	2.4%	$30.90	—	COM	684000102
—	PINNACLE FINL PARTNERS INC	438,610	$26.38M	2.3%	$60.15	—	COM	72346q104
—	ATLANTIC CAP BANCSHARES INC	1,472,415	$24.66M	2.2%	$15.10	—	COM	048269203
—	SOUTH ST CORP	297,438	$24.39M	2.2%	$87.15	—	COM	840441109
FFWM	FIRST FNDTN INC	1,530,954	$23.91M	2.1%	$16.78	-8.1%	COM	32026V104
—	LIVE OAK BANCSHARES INC	888,494	$23.81M	2.1%	$23.58	—	COM	53803x105
SBCF	SEACOAST BKG CORP FLA	763,734	$22.3M	2.0%	$22.30	+38.9%	COM NEW	811707801
—	EQUITY BANCSHARES INC	560,858	$22.02M	1.9%	$27.96	—	COM CL A	29460x109
—	ARES MGMT LP	944,188	$21.91M	1.9%	$21.50	—	COM SHS REG INT	04014y101
—	SPDR SERIES TRUST	363,000	$21.57M	1.9%	—	—	Put	78464a698
—	VERITEX HLDGS INC	748,176	$21.14M	1.9%	$25.50	—	COM	923451108
—	FIDELITY SOUTHERN CORP NEW	848,019	$21.01M	1.9%	$20.17	—	COM	316394105
—	INVESTORS BANCORP INC NEW	1,654,391	$20.3M	1.8%	$12.42	—	COM	46146L101
—	UNITED FINL BANCORP INC NEW	1,189,444	$20.02M	1.8%	$14.42	—	COM	910304104
—	FIRST BANCSHARES INC MS	462,628	$18.07M	1.6%	$21.43	—	COM	318916103
—	OLD LINE BANCSHARES INC	558,574	$17.67M	1.6%	$28.20	—	COM	67984m100
—	CAROLINA FINL CORP NEW	434,941	$16.41M	1.4%	$37.01	—	COM	143873107
BY	BYLINE BANCORP INC	633,467	$14.38M	1.3%	$19.27	+8.9%	COM	124411109
—	FAR PT ACQUISITION CORP	1,378,850	$14.18M	1.3%	$10.19	—	UNIT 06/01/2025	30734W208
—	HOWARD BANCORP INC	722,369	$12.79M	1.1%	$18.71	—	COM	442496105
—	E TRADE FINANCIAL CORP	239,000	$12.52M	1.1%	$53.71	—	COM NEW	269246401
—	IBERIABANK CORP	150,000	$12.2M	1.1%	$77.33	—	COM	450828108
—	COWEN INC	726,850	$11.85M	1.0%	$14.94	—	CL A NEW	223622606
EEM	ISHARES TR	264,000	$11.33M	1.0%	—	—	Put	464287234
SFST	SOUTHERN FIRST BANCSHARES IN	287,242	$11.29M	1.0%	$24.08	+79.0%	COM	842873101
XLF	SELECT SECTOR SPDR TR	396,000	$10.92M	1.0%	—	—	Put	81369Y605
BKU	BANKUNITED INC	300,908	$10.65M	0.9%	$32.14	-3.7%	COM	06652K103
—	MIDSOUTH BANCORP INC	675,789	$10.41M	0.9%	$11.81	—	COM	598039105
V	VISA INC	66,000	$9.906M	0.9%	—	—	Put	92826C839
WNEB	WESTERN NEW ENG BANCORP INC	899,523	$9.715M	0.9%	$7.86	+10.9%	COM	958892101
CFG	CITIZENS FINL GROUP INC	250,000	$9.642M	0.9%	$30.13	-2.6%	COM	174610105
SPY	SPDR S&P 500 ETF TR	33,000	$9.594M	0.8%	—	—	Put	78462F103
C	CITIGROUP INC	132,000	$9.468M	0.8%	—	—	Put	172967424
HOMB	HOME BANCSHARES INC	432,140	$9.464M	0.8%	$21.83	+6.4%	COM	436893200
—	AMALGAMATED BK NEW YORK N Y	482,556	$9.308M	0.8%	$19.29	—	CLASS A	022663108
—	REGIONS FINL CORP NEW	500,000	$9.175M	0.8%	$17.78	—	COM	7591ep100
KEY	KEYCORP NEW	450,000	$8.95M	0.8%	$13.98	+4.7%	COM	493267108
—	GUARANTY BANCORP DEL	300,000	$8.91M	0.8%	$24.33	—	COM NEW	40075T607
OCFC	OCEANFIRST FINL CORP	316,700	$8.621M	0.8%	$16.97	+27.8%	COM	675234108
HYG	ISHARES TR	99,000	$8.558M	0.8%	—	—	Put	464288513
—	PACWEST BANCORP DEL	175,000	$8.339M	0.7%	$50.40	—	COM	695263103
VLY	VALLEY NATL BANCORP	725,000	$8.174M	0.7%	$11.48	+5.1%	COM	919794107
SAMG	SILVERCREST ASSET MGMT GROUP	550,631	$7.626M	0.7%	$12.89	+25.0%	CL A	828359109
—	PACIFIC PREMIER BANCORP	200,000	$7.48M	0.7%	$37.44	—	COM	69478x105
JPM	JPMORGAN CHASE & CO	66,000	$7.448M	0.7%	—	—	Put	46625H100
BANC	BANC OF CALIFORNIA INC	391,306	$7.396M	0.7%	$16.66	0.0%	COM	05990K106
MA	MASTERCARD INCORPORATED	33,000	$7.346M	0.6%	—	—	Put	57636Q104
PGC	PEAPACK-GLADSTONE FINL CORP	229,770	$7.098M	0.6%	$28.83	+9.5%	COM	704699107
—	TD AMERITRADE HLDG CORP	132,000	$7.042M	0.6%	—	—	Put	87236Y108
AIG	AMERICAN INTL GROUP INC	132,000	$7.028M	0.6%	—	—	Put	026874784
AXP	AMERICAN EXPRESS CO	66,000	$7.028M	0.6%	—	—	Put	025816109
USB	US BANCORP DEL	132,000	$6.97M	0.6%	—	—	Put	902973304
BK	BANK NEW YORK MELLON CORP	132,000	$6.73M	0.6%	—	—	Put	064058100
FCCO	FIRST CMNTY CORP S C	268,920	$6.508M	0.6%	$10.08	+105.9%	COM	319835104
—	SB ONE BANCORP	252,267	$6.357M	0.6%	$28.06	—	COM	78413T103
—	CENTERSTATE BK CORP	225,204	$6.317M	0.6%	$28.05	—	COM	15201p109
—	LAKELAND BANCORP INC	350,000	$6.317M	0.6%	$19.50	—	COM	511637100
CIVB	CIVISTA BANCSHARES INC	260,154	$6.267M	0.6%	$18.67	+5.3%	COM NO PAR	178867107
COF	CAPITAL ONE FINL CORP	66,000	$6.266M	0.6%	—	—	Put	14040H105
MET	METLIFE INC	132,000	$6.168M	0.5%	—	—	Put	59156R108
MS	MORGAN STANLEY	132,000	$6.148M	0.5%	—	—	Put	617446448
KBE	SPDR SERIES TRUST	132,000	$6.148M	0.5%	—	—	Put	78464A797
—	CONNECTONE BANCORP INC NEW	253,091	$6.011M	0.5%	$24.90	—	COM	20786w107
BAC	BANK AMER CORP	200,000	$5.892M	0.5%	$14.17	+79.7%	COM	060505104
—	GREEN BANCORP INC	258,111	$5.704M	0.5%	$18.66	—	COM	39260x100
WFC	WELLS FARGO CO NEW	99,000	$5.203M	0.5%	—	—	Put	949746101
—	BLACKSTONE GROUP L P	132,000	$5.027M	0.4%	—	—	Put	09253u108
—	SOUTHERN NATL BANCORP OF VA	306,657	$4.968M	0.4%	$11.76	—	COM	843395104
SCHW	SCHWAB CHARLES CORP NEW	99,000	$4.866M	0.4%	—	—	Put	808513105
LNC	LINCOLN NATL CORP IND	66,000	$4.466M	0.4%	—	—	Put	534187109
—	MANNING & NAPIER INC	1,508,448	$4.45M	0.4%	$5.22	—	CL A	56382q102
TRV	TRAVELERS COMPANIES INC	33,000	$4.28M	0.4%	—	—	Put	89417E109
—	EVANS BANCORP INC	90,644	$4.256M	0.4%	$31.97	—	COM NEW	29911Q208
SYF	SYNCHRONY FINL	132,000	$4.102M	0.4%	—	—	Put	87165B103
—	M & T BK CORP	40,000	$3.852M	0.3%	$37.91	—	*W EXP 12/23/201	55261F112
—	CADENCE BANCORPORATION	144,740	$3.781M	0.3%	$26.12	—	CL A	12739a100
—	UNITED CMNTY BKS BLAIRSVLE G	102,959	$2.872M	0.3%	$31.65	—	COM	90984p303
—	FIRST INTST BANCSYSTEM INC	50,000	$2.24M	0.2%	$40.05	—	COM CL A	32055y201
—	SELECT BANCORP INC NEW	167,699	$2.079M	0.2%	$11.11	—	COM	81617L108
HIG	HARTFORD FINL SVCS GROUP INC	33,000	$1.649M	0.1%	—	—	Put	416515104
AFL	AFLAC INC	33,000	$1.553M	0.1%	—	—	Put	001055102
—	ASPEN INSURANCE HOLDINGS LTD	33,000	$1.377M	0.1%	—	—	Put	g05384105
—	CBTX INC	37,265	$1.324M	0.1%	$29.68	—	COM	12481V104
BCTF	BANCORP 34 INC	78,575	$1.289M	0.1%	$13.15	+12.2%	COM	05970V106
—	COMMUNITY BANKERS TR CORP	136,174	$1.198M	0.1%	$8.15	—	COM	203612106
—	PB BANCORP INC	97,677	$1.148M	0.1%	$10.55	—	COM	70454T100
ESQ	ESQUIRE FINL HLDGS INC	40,701	$1.016M	0.1%	$14.50	+69.5%	COM	29667J101
BCML	BAYCOM CORP	37,113	$990K	0.1%	$21.48	+9.4%	COM	07272M107
—	GUARANTY BANCSHARES INC TEX	22,168	$670K	0.1%	$30.65	—	COM	400764106
—	PERFORMANT FINL CORP	322,031	$651K	0.1%	$2.35	—	COM	71377e105
FNB	FNB CORP PA	50,000	$636K	0.1%	$9.89	0.0%	COM	302520101
ISTR	INVESTAR HLDG CORP	22,259	$598K	0.1%	$22.02	+23.5%	COM	46134L105
—	SPIRIT OF TEX BANCSHARES INC	23,339	$504K	0.0%	$20.76	—	COM	84861D103
BSVN	BANK7 CORP	25,527	$491K	0.0%	$15.67	0.0%	COM	06652N107
MYFW	FIRST WESTN FINL INC	20,381	$356K	0.0%	$17.75	0.0%	COM	33751L105
—	WALKER & DUNLOP INC	6,594	$349K	0.0%	$52.93	—	COM	93148p102
—	MACKINAC FINL CORP	20,153	$326K	0.0%	$16.57	—	COM	554571109
—	FSB BANCORP INC	17,177	$301K	0.0%	$12.58	—	COM	30289C102
—	MELROSE BANCORP INC	11,756	$232K	0.0%	$19.92	—	COM	585553100
BFST	BUSINESS FIRST BANCSHARES IN	8,077	$214K	0.0%	$21.36	+2.8%	COM	12326C105