Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BANC	BANC OF CALIFORNIA	3,401,719	$62.9B	15.8%	$18490.00 *	$9.88	+59.5%	COM	05990K106
EFSC	ENTERPRISE FINL SVCS	721,046	$32.65B	8.2%	$45280.00 *	$20.86	+95.2%	COM	293712105
FRME	FIRST MERCHANTS	751,333	$31.44B	7.9%	$41840.00 *	$16.18	+113.9%	COM	320817109
HBNC	HORIZON BANCORP	1,355,712	$24.63B	6.2%	$18170.00 *	$14.25	+21.4%	COM	440407104
COF	CAPITAL ONE FINL	145,050	$23.49B	5.9%	$161970.00 *	$68.58	+119.8%	COM	14040H105
FNB	F N B	1,986,765	$23.09B	5.8%	$11620.00 *	$8.08	+21.5%	COM	302520101
—	EVANS BANCORP	409,875	$15.7B	4.0%	$38300.00	$36.92	—	COM NEW	29911Q208
SYF	SYNCHRONY FINANCIAL	305,200	$14.92B	3.8%	$48880.00 *	$22.95	+91.5%	COM	87165B103
CFG	CITIZENS FINL GROUP	304,553	$14.31B	3.6%	$46980.00 *	$20.74	+75.6%	COM	174610105
ABCB	AMERIS BANCORP	247,497	$12.84B	3.2%	$51880.00 *	$41.41	+10.9%	COM	03076K108
—	MALVERN BANCORP	753,961	$12.81B	3.2%	$16990.00	$11.94	—	COM	561409103
—	BANKFINANCIAL	1,054,922	$12.11B	3.0%	$11480.00	$8.88	—	COM	06643P104
—	OLD POINT FINL	519,857	$11.05B	2.8%	$21250.00	$17.27	—	COM	680194107
C	CITIGROUP	144,868	$10.17B	2.6%	$70180.00 *	$43.31	+37.8%	COM	172967424
FRST	PRIMIS FINANCIAL	541,259	$7.827B	2.0%	$14460.00 *	$11.54	+10.3%	COM	74167B109
IBCP	INDEPENDENT BK MICH	359,985	$7.732B	1.9%	$21480.00 *	$12.18	+43.4%	COM	453838609
MGYR	MAGYAR BANCORP	658,557	$7.54B	1.9%	$11450.00 *	$10.77	0.0%	COM	55977T208
HWBK	HAWTHORN BANCSHARES	312,730	$7.243B	1.8%	$23160.00 *	$20.06	+4.8%	COM	420476103
KEY	KEYCORP	325,000	$7.027B	1.8%	$21620.00 *	$10.85	+49.6%	COM	493267108
BMRC	BANK MARIN BANCORP	166,748	$6.295B	1.6%	$37750.00 *	$28.72	0.0%	COM	063425102
—	COMMUNITY WEST BANCSHARES	474,460	$6.189B	1.6%	$13044.10	$10.62	—	COM	204157101
—	RELIANT BANCORP	173,684	$5.487B	1.4%	$31590.00	$16.29	—	COM	75956B101
FITB	FIFTH THIRD BANCORP	109,599	$4.651B	1.2%	$42440.00 *	$18.03	+79.0%	COM	316773100
HBAN	HUNTINGTON BANCSHARES	265,000	$4.097B	1.0%	$15460.00 *	$6.82	+76.7%	COM	446150104
FHN	FIRST HORIZON CORPORATION	250,000	$4.072B	1.0%	$16290.00 *	$9.59	+42.3%	COM	320517105
FFBC	FIRST FINL BANCORP OH	171,364	$4.012B	1.0%	$23410.00 *	$18.47	+4.0%	COM	320209109
LFT	LUMENT FINANCE TRUST	831,338	$3.292B	0.8%	$3960.00	$3.27	—	COM	55025L108
PFS	PROVIDENT FINL SVCS	139,609	$3.277B	0.8%	$23470.00 *	$10.18	+72.4%	COM	74386T105
BCML	BAYCOM	160,530	$2.986B	0.8%	$18600.00 *	$16.02	+2.9%	COM	07272M107
—	CODORUS VY BANCORP	97,102	$2.189B	0.6%	$22540.00	$22540.00	—	COM	192025104
CMA	COMERICA	27,000	$2.174B	0.5%	$80500.00 *	$37.21	+56.9%	COM	200340107
MBIN	MERCHANTS BANCORP IND	47,187	$1.862B	0.5%	$39470.00 *	$23.73	0.0%	COM	58844R108
NWBI	NORTHWEST BANCSHARES MD	117,445	$1.56B	0.4%	$13280.00 *	$7.10	+38.5%	COM	667340103
—	UMPQUA HLDGS	70,100	$1.42B	0.4%	$20250.00	$13.10	—	COM	904214103
—	NEW YORK CMNTY BANCORP	100,000	$1.287B	0.3%	$12870.00	$11.02	—	COM	649445103
—	FIRST FINANCIAL NORTHWEST	50,000	$819M	0.2%	$16370.00	$9.12	—	COM	32022K102
—	STERLING BANCORP DEL	22,900	$572M	0.1%	$24960.00	$16.51	—	COM	85917A100
INBK	FIRST INTERNET BANCORP	18,000	$561M	0.1%	$31180.00 *	$25.08	+20.6%	COM	320557101
SFST	SOUTHERN FIRST BANCSHARES INC	10,000	$535M	0.1%	$53500.00 *	$43.64	+15.7%	COM	842873101
MSBI	MIDLAND STATES BANCORP INC	10,000	$247M	0.1%	$24730.00 *	$17.81	+9.1%	COM	597742105
FRBA	FIRST BK WILLIAMSTOWN NEW JERS	14,180	$200M	0.1%	$14089.99 *	$7.85	+57.0%	COM	31931U102