BASSWOOD CAPITAL MANAGEMENT, L.L.C. Diversified Active

CIK: 0001085393 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $2,470,845 (100.0% shares, 0.0% debt)

Holdings (111)

New Positions (4)

EBC EASTERN BANKSHARES INC 0.9%

Value ($000) $21,957 Shares 1,191,380 Est. Cost $18.22 Unrealized 0.0%

CWK CUSHMAN AND WAKEFIELD LTD 0.6%

Value ($000) $15,564 Shares 961,323 Est. Cost $15.85 Unrealized 0.0%

FHN FIRST HORIZON CORPORATION 0.2%

Value ($000) $4,279 Shares 179,018 Est. Cost $22.18 Unrealized 0.0%

FG F&G ANNUITIES & LIFE INC 0.0%

Value ($000) $619 Shares 20,051 Est. Cost $31.09 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EBC	EASTERN BANKSHARES INC	1,191,380	$21,957	0.9%	$18.22	0.0%	COM	27627N105
CWK	CUSHMAN AND WAKEFIELD LTD	961,323	$15,564	0.6%	$15.85	0.0%	COMMON SHARES	G2717C106
FHN	FIRST HORIZON CORPORATION	179,018	$4,279	0.2%	$22.18	0.0%	COM	320517105
FG	F&G ANNUITIES & LIFE INC	20,051	$619	0.0%	$31.09	0.0%	COMMON STOCK	30190A104

Increased Positions (19)

RKT ROCKET COS INC 4.3%

Value ($000) $105,998 (+1879.3%) Shares 5,475,110 (+1881.3%) Est. Cost $17.61 Unrealized +1.5%

TLT ISHARES TR 5.0%

Value ($000) $123,419 (+42.8%) Shares 1,416,000 (+46.4%) Est. Cost $108.57 Unrealized —

WBS WEBSTER FINL CORP 3.8%

Value ($000) $93,202 (+27.1%) Shares 1,480,804 (+20.1%) Est. Cost $53.72 Unrealized +10.5%

ZION ZIONS BANCORPORATION N A 1.0%

Value ($000) $23,681 (+279.1%) Shares 404,520 (+266.4%) Est. Cost $54.78 Unrealized -0.6%

SFNC SIMMONS 1ST NATL CORP 0.9%

Value ($000) $21,547 (+318.5%) Shares 1,143,055 (+325.7%) Est. Cost $18.86 Unrealized -1.8%

ALLY ALLY FINL INC 1.0%

Value ($000) $23,478 (+219.4%) Shares 518,387 (+176.4%) Est. Cost $38.73 Unrealized +5.3%

SCHW SCHWAB CHARLES CORP 2.5%

Value ($000) $60,788 (+34.8%) Shares 608,426 (+28.8%) Est. Cost $76.50 Unrealized +23.8%

USB US BANCORP DEL 3.5%

Value ($000) $86,959 (+14.2%) Shares 1,629,664 (+3.4%) Est. Cost $32.54 Unrealized +49.7%

BLK BLACKROCK INC 1.1%

Value ($000) $27,846 (+48.8%) Shares 26,016 (+62.1%) Est. Cost $1017.21 Unrealized +7.1%

HFWA HERITAGE FINL CORP WASH 0.6%

Value ($000) $14,358 (+157.2%) Shares 607,105 (+163.1%) Est. Cost $25.49 Unrealized -7.6%

IVZ INVESCO LTD 1.2%

Value ($000) $29,348 (+38.1%) Shares 1,117,152 (+20.6%) Est. Cost $18.74 Unrealized +29.8%

RJF RAYMOND JAMES FINL INC 1.0%

Value ($000) $24,961 (+45.4%) Shares 155,430 (+56.2%) Est. Cost $123.25 Unrealized +30.6%

TFC TRUIST FINL CORP 0.7%

Value ($000) $17,567 (+72.3%) Shares 356,977 (+60.1%) Est. Cost $40.93 Unrealized +11.9%

LAZ LAZARD INC 0.6%

Value ($000) $14,271 (+42.4%) Shares 293,883 (+54.8%) Est. Cost $42.93 Unrealized +16.2%

PGR PROGRESSIVE CORP 0.3%

Value ($000) $8,523 (+50.5%) Shares 37,427 (+63.3%) Est. Cost $218.58 Unrealized -2.9%

JLL JONES LANG LASALLE INC 0.2%

Value ($000) $5,001 (+77.0%) Shares 14,864 (+56.9%) Est. Cost $259.76 Unrealized +20.7%

INDB INDEPENDENT BK CORP MASS 1.0%

Value ($000) $24,079 (+9.4%) Shares 329,495 (+3.5%) Est. Cost $61.45 Unrealized +14.8%

PNC PNC FINL SVCS GROUP INC 1.3%

Value ($000) $32,293 (+6.8%) Shares 154,712 (+2.8%) Est. Cost $179.47 Unrealized +7.4%

VCTR VICTORY CAP HLDGS INC 1.2%

Value ($000) $29,395 (+1.3%) Shares 465,923 (+4.0%) Est. Cost $43.02 Unrealized +47.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RKT	ROCKET COS INC	5,475,110 (+1881.3%)	$105,998 (+1879.3%)	4.3%	$17.61	+1.5%	COM CL A	77311W101
TLT	ISHARES TR	1,416,000 (+46.4%)	$123,419 (+42.8%)	5.0%	$108.57	—	CALL	464287432
WBS	WEBSTER FINL CORP	1,480,804 (+20.1%)	$93,202 (+27.1%)	3.8%	$53.72	+10.5%	COM	947890109
ZION	ZIONS BANCORPORATION N A	404,520 (+266.4%)	$23,681 (+279.1%)	1.0%	$54.78	-0.6%	COM	989701107
SFNC	SIMMONS 1ST NATL CORP	1,143,055 (+325.7%)	$21,547 (+318.5%)	0.9%	$18.86	-1.8%	CL A $1 PAR	828730200
ALLY	ALLY FINL INC	518,387 (+176.4%)	$23,478 (+219.4%)	1.0%	$38.73	+5.3%	COM	02005N100
SCHW	SCHWAB CHARLES CORP	608,426 (+28.8%)	$60,788 (+34.8%)	2.5%	$76.50	+23.8%	COM	808513105
USB	US BANCORP DEL	1,629,664 (+3.4%)	$86,959 (+14.2%)	3.5%	$32.54	+49.7%	COM NEW	902973304
BLK	BLACKROCK INC	26,016 (+62.1%)	$27,846 (+48.8%)	1.1%	$1017.21	+7.1%	COM	09290D101
HFWA	HERITAGE FINL CORP WASH	607,105 (+163.1%)	$14,358 (+157.2%)	0.6%	$25.49	-7.6%	COM	42722X106
IVZ	INVESCO LTD	1,117,152 (+20.6%)	$29,348 (+38.1%)	1.2%	$18.74	+29.8%	SHS	G491BT108
RJF	RAYMOND JAMES FINL INC	155,430 (+56.2%)	$24,961 (+45.4%)	1.0%	$123.25	+30.6%	COM	754730109
TFC	TRUIST FINL CORP	356,977 (+60.1%)	$17,567 (+72.3%)	0.7%	$40.93	+11.9%	COM	89832Q109
LAZ	LAZARD INC	293,883 (+54.8%)	$14,271 (+42.4%)	0.6%	$42.93	+16.2%	COM	52110M109
PGR	PROGRESSIVE CORP	37,427 (+63.3%)	$8,523 (+50.5%)	0.3%	$218.58	-2.9%	COM	743315103
JLL	JONES LANG LASALLE INC	14,864 (+56.9%)	$5,001 (+77.0%)	0.2%	$259.76	+20.7%	COM	48020Q107
INDB	INDEPENDENT BK CORP MASS	329,495 (+3.5%)	$24,079 (+9.4%)	1.0%	$61.45	+14.8%	COM	453836108
PNC	PNC FINL SVCS GROUP INC	154,712 (+2.8%)	$32,293 (+6.8%)	1.3%	$179.47	+7.4%	COM	693475105
VCTR	VICTORY CAP HLDGS INC	465,923 (+4.0%)	$29,395 (+1.3%)	1.2%	$43.02	+47.2%	COM CL A	92645B103

Exited Positions (5)

— MR COOPER GROUP INC 4.0%

Value ($000) $99,623 Shares 472,616 Est. Cost $83.87 Unrealized —

— MR COOPER GROUP INC 3.0%

Value ($000) $74,177 Shares 351,900 Est. Cost $83.87 Unrealized —

— CUSHMAN WAKEFIELD PLC 0.7%

Value ($000) $16,255 Shares 1,021,060 Est. Cost $14.35 Unrealized —

— GUILD HLDGS CO 0.3%

Value ($000) $6,293 Shares 315,583 Est. Cost $16.52 Unrealized —

HBNC HORIZON BANCORP INC 0.2%

Value ($000) $4,003 Shares 250,000 Est. Cost $16.02 Unrealized +3.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	MR COOPER GROUP INC	472,616	$99,623	4.0%	$83.87	—	—	62482R107
—	MR COOPER GROUP INC	351,900	$74,177	3.0%	$83.87	—	PUT	62482R107
—	CUSHMAN WAKEFIELD PLC	1,021,060	$16,255	0.7%	$14.35	—	—	G2717B108
—	GUILD HLDGS CO	315,583	$6,293	0.3%	$16.52	—	—	40172N107
HBNC	HORIZON BANCORP INC	250,000	$4,003	0.2%	$16.02	+3.4%	—	440407104

Decreased Positions (31)

KRE SPDR SERIES TRUST 1.9%

Value ($000) $46,372 (-28.1%) Shares 715,500 (-29.8%) Est. Cost — Unrealized —

MDY SPDR S&P MIDCAP 400 ETF TR 0.5%

Value ($000) $13,091 (-52.6%) Shares 21,700 (-53.1%) Est. Cost $566.48 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.9%

Value ($000) $22,796 (-33.2%) Shares 119,000 (-33.9%) Est. Cost — Unrealized —

CRBG COREBRIDGE FINL INC 0.1%

Value ($000) $2,038 (-84.3%) Shares 67,537 (-83.3%) Est. Cost $30.91 Unrealized -1.2%

COLB COLUMBIA BKG SYS INC 0.4%

Value ($000) $10,273 (-48.1%) Shares 367,552 (-52.2%) Est. Cost $22.68 Unrealized +18.4%

RF REGIONS FINANCIAL CORP NEW 0.5%

Value ($000) $12,372 (-43.1%) Shares 456,523 (-44.6%) Est. Cost $20.58 Unrealized +23.3%

BOH BANK HAWAII CORP 0.6%

Value ($000) $13,714 (-39.7%) Shares 200,583 (-42.1%) Est. Cost $67.45 Unrealized -2.9%

PWP PERELLA WEINBERG PARTNERS 0.8%

Value ($000) $18,770 (-31.9%) Shares 1,084,985 (-16.1%) Est. Cost $14.62 Unrealized +27.0%

ONB OLD NATL BANCORP IND 1.4%

Value ($000) $35,035 (-19.8%) Shares 1,570,371 (-21.1%) Est. Cost $20.95 Unrealized +2.9%

BANR BANNER CORP 0.5%

Value ($000) $13,586 (-38.4%) Shares 216,813 (-35.6%) Est. Cost $63.98 Unrealized -2.4%

TMHC TAYLOR MORRISON HOME CORP 1.1%

Value ($000) $27,297 (-21.9%) Shares 463,687 (-12.4%) Est. Cost $47.49 Unrealized +28.7%

RM REGIONAL MGMT CORP 1.3%

Value ($000) $33,195 (-16.8%) Shares 856,641 (-16.4%) Est. Cost $17.82 Unrealized +114.2%

EQH EQUITABLE HLDGS INC 0.4%

Value ($000) $8,829 (-34.2%) Shares 185,284 (-29.9%) Est. Cost $50.80 Unrealized -7.0%

UWMC UWM HOLDINGS CORPORATION 0.3%

Value ($000) $8,438 (-35.0%) Shares 1,926,407 (-9.6%) Est. Cost $5.24 Unrealized +2.6%

LEN LENNAR CORP 0.4%

Value ($000) $9,074 (-32.1%) Shares 88,267 (-16.8%) Est. Cost $75.73 Unrealized +59.4%

BFH BREAD FINANCIAL HOLDINGS INC 0.9%

Value ($000) $22,719 (+19.2%) Shares 306,886 (-10.2%) Est. Cost $54.23 Unrealized +21.0%

RPC P10 INC 0.1%

Value ($000) $2,914 (-53.4%) Shares 297,021 (-48.3%) Est. Cost $11.25 Unrealized -9.8%

MHO M/I HOMES INC 0.8%

Value ($000) $19,054 (-14.0%) Shares 148,920 (-2.9%) Est. Cost $63.31 Unrealized +108.8%

OBK ORIGIN BANCORP INC 0.5%

Value ($000) $12,401 (-17.8%) Shares 329,730 (-24.6%) Est. Cost $36.16 Unrealized -0.9%

BPOP POPULAR INC 1.3%

Value ($000) $33,128 (-6.4%) Shares 266,042 (-4.5%) Est. Cost $88.89 Unrealized +32.4%

QNST QUINSTREET INC 0.3%

Value ($000) $7,135 (-21.4%) Shares 496,545 (-15.3%) Est. Cost $18.24 Unrealized -20.9%

CCS CENTURY CMNTYS INC 0.0%

Value ($000) $442 (-79.1%) Shares 7,444 (-77.7%) Est. Cost $59.99 Unrealized +1.2%

VLY VALLEY NATL BANCORP 0.8%

Value ($000) $19,329 (-5.8%) Shares 1,654,877 (-14.5%) Est. Cost $8.90 Unrealized +24.7%

CFG CITIZENS FINL GROUP INC 1.3%

Value ($000) $32,826 (+3.3%) Shares 561,993 (-5.9%) Est. Cost $26.05 Unrealized +105.7%

PFSI PENNYMAC FINL SVCS INC NEW 2.9%

Value ($000) $72,634 (+1.3%) Shares 550,927 (-4.8%) Est. Cost $68.11 Unrealized +86.2%

CBZ CBIZ INC 0.4%

Value ($000) $9,262 (-8.5%) Shares 183,591 (-3.9%) Est. Cost $66.67 Unrealized -21.1%

VOYA VOYA FINANCIAL INC 0.6%

Value ($000) $14,546 (-3.8%) Shares 195,281 (-3.4%) Est. Cost $68.16 Unrealized +6.4%

WFC WELLS FARGO CO NEW 1.8%

Value ($000) $44,846 (-0.7%) Shares 481,182 (-10.7%) Est. Cost $56.91 Unrealized +52.2%

CPF CENTRAL PAC FINL CORP 1.0%

Value ($000) $24,768 (-1.1%) Shares 794,867 (-3.7%) Est. Cost $25.41 Unrealized +17.9%

KEY KEYCORP 0.9%

Value ($000) $21,890 (+1.1%) Shares 1,060,554 (-8.5%) Est. Cost $18.18 Unrealized +1.7%

BAC BANK AMERICA CORP 3.6%

Value ($000) $88,765 (-0.1%) Shares 1,613,917 (-6.3%) Est. Cost $30.22 Unrealized +74.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KRE	SPDR SERIES TRUST	715,500 (-29.8%)	$46,372 (-28.1%)	1.9%	—	—	PUT	78464A698
MDY	SPDR S&P MIDCAP 400 ETF TR	21,700 (-53.1%)	$13,091 (-52.6%)	0.5%	$566.48	—	PUT	78467Y107
RSP	INVESCO EXCHANGE TRADED FD T	119,000 (-33.9%)	$22,796 (-33.2%)	0.9%	—	—	PUT	46137V357
CRBG	COREBRIDGE FINL INC	67,537 (-83.3%)	$2,038 (-84.3%)	0.1%	$30.91	-1.2%	COM	21871X109
COLB	COLUMBIA BKG SYS INC	367,552 (-52.2%)	$10,273 (-48.1%)	0.4%	$22.68	+18.4%	COM	197236102
RF	REGIONS FINANCIAL CORP NEW	456,523 (-44.6%)	$12,372 (-43.1%)	0.5%	$20.58	+23.3%	COM	7591EP100
BOH	BANK HAWAII CORP	200,583 (-42.1%)	$13,714 (-39.7%)	0.6%	$67.45	-2.9%	COM	062540109
PWP	PERELLA WEINBERG PARTNERS	1,084,985 (-16.1%)	$18,770 (-31.9%)	0.8%	$14.62	+27.0%	CLASS A COM	71367G102
ONB	OLD NATL BANCORP IND	1,570,371 (-21.1%)	$35,035 (-19.8%)	1.4%	$20.95	+2.9%	COM	680033107
BANR	BANNER CORP	216,813 (-35.6%)	$13,586 (-38.4%)	0.5%	$63.98	-2.4%	COM NEW	06652V208
TMHC	TAYLOR MORRISON HOME CORP	463,687 (-12.4%)	$27,297 (-21.9%)	1.1%	$47.49	+28.7%	COM	87724P106
RM	REGIONAL MGMT CORP	856,641 (-16.4%)	$33,195 (-16.8%)	1.3%	$17.82	+114.2%	COM	75902K106
EQH	EQUITABLE HLDGS INC	185,284 (-29.9%)	$8,829 (-34.2%)	0.4%	$50.80	-7.0%	COM	29452E101
UWMC	UWM HOLDINGS CORPORATION	1,926,407 (-9.6%)	$8,438 (-35.0%)	0.3%	$5.24	+2.6%	COM CL A	91823B109
LEN	LENNAR CORP	88,267 (-16.8%)	$9,074 (-32.1%)	0.4%	$75.73	+59.4%	CL A	526057104
BFH	BREAD FINANCIAL HOLDINGS INC	306,886 (-10.2%)	$22,719 (+19.2%)	0.9%	$54.23	+21.0%	COM	018581108
RPC	P10 INC	297,021 (-48.3%)	$2,914 (-53.4%)	0.1%	$11.25	-9.8%	COM CL A	69376K106
MHO	M/I HOMES INC	148,920 (-2.9%)	$19,054 (-14.0%)	0.8%	$63.31	+108.8%	COM	55305B101
OBK	ORIGIN BANCORP INC	329,730 (-24.6%)	$12,401 (-17.8%)	0.5%	$36.16	-0.9%	COM	68621T102
BPOP	POPULAR INC	266,042 (-4.5%)	$33,128 (-6.4%)	1.3%	$88.89	+32.4%	COM NEW	733174700
QNST	QUINSTREET INC	496,545 (-15.3%)	$7,135 (-21.4%)	0.3%	$18.24	-20.9%	COM	74874Q100
CCS	CENTURY CMNTYS INC	7,444 (-77.7%)	$442 (-79.1%)	0.0%	$59.99	+1.2%	COM	156504300
VLY	VALLEY NATL BANCORP	1,654,877 (-14.5%)	$19,329 (-5.8%)	0.8%	$8.90	+24.7%	COM	919794107
CFG	CITIZENS FINL GROUP INC	561,993 (-5.9%)	$32,826 (+3.3%)	1.3%	$26.05	+105.7%	COM	174610105
PFSI	PENNYMAC FINL SVCS INC NEW	550,927 (-4.8%)	$72,634 (+1.3%)	2.9%	$68.11	+86.2%	COM	70932M107
CBZ	CBIZ INC	183,591 (-3.9%)	$9,262 (-8.5%)	0.4%	$66.67	-21.1%	COM	124805102
VOYA	VOYA FINANCIAL INC	195,281 (-3.4%)	$14,546 (-3.8%)	0.6%	$68.16	+6.4%	COM	929089100
WFC	WELLS FARGO CO NEW	481,182 (-10.7%)	$44,846 (-0.7%)	1.8%	$56.91	+52.2%	COM	949746101
CPF	CENTRAL PAC FINL CORP	794,867 (-3.7%)	$24,768 (-1.1%)	1.0%	$25.41	+17.9%	COM NEW	154760409
KEY	KEYCORP	1,060,554 (-8.5%)	$21,890 (+1.1%)	0.9%	$18.18	+1.7%	COM	493267108
BAC	BANK AMERICA CORP	1,613,917 (-6.3%)	$88,765 (-0.1%)	3.6%	$30.22	+74.3%	COM	060505104

Unchanged Positions (57)

OMF ONEMAIN HLDGS INC 2.5%

Value ($000) $62,068 Shares 918,845 Est. Cost $38.67 Unrealized +57.2%

FCNCA FIRST CTZNS BANCSHARES INC D 2.0%

Value ($000) $49,482 Shares 23,056 Est. Cost $531.89 Unrealized +254.1%

MS MORGAN STANLEY 2.7%

Value ($000) $65,555 Shares 369,259 Est. Cost $39.29 Unrealized +323.7%

COF CAPITAL ONE FINL CORP 1.9%

Value ($000) $48,116 Shares 198,531 Est. Cost $146.91 Unrealized +51.2%

SYF SYNCHRONY FINANCIAL 1.0%

Value ($000) $23,803 Shares 285,303 Est. Cost $47.28 Unrealized +61.4%

JPM JPMORGAN CHASE & CO. 6.1%

Value ($000) $151,281 Shares 469,496 Est. Cost $39.58 Unrealized +682.1%

LC LENDINGCLUB CORP 0.6%

Value ($000) $15,616 Shares 824,482 Est. Cost $15.10 Unrealized +17.0%

APO APOLLO GLOBAL MGMT INC 1.2%

Value ($000) $29,317 Shares 202,518 Est. Cost $60.86 Unrealized +117.8%

FNB F N B CORP 1.5%

Value ($000) $36,134 Shares 2,113,113 Est. Cost $10.68 Unrealized +52.3%

PHM PULTE GROUP INC 0.6%

Value ($000) $15,916 Shares 135,730 Est. Cost $63.14 Unrealized +93.9%

FNF FIDELITY NATIONAL FINANCIAL 0.7%

Value ($000) $18,243 Shares 334,183 Est. Cost $14.85 Unrealized +268.9%

CMA COMERICA INC 0.3%

Value ($000) $7,821 Shares 89,972 Est. Cost $45.28 Unrealized +76.7%

BKU BANKUNITED INC 0.5%

Value ($000) $11,426 Shares 256,358 Est. Cost $34.34 Unrealized +19.7%

CAC CAMDEN NATL CORP 0.4%

Value ($000) $10,745 Shares 247,699 Est. Cost $22.06 Unrealized +80.7%

MOFG MIDWESTONE FINL GROUP INC NE 0.2%

Value ($000) $4,106 Shares 106,660 Est. Cost $28.99 Unrealized +25.8%

KBH KB HOME 0.2%

Value ($000) $5,822 Shares 103,217 Est. Cost $33.46 Unrealized +82.7%

BANC BANC OF CALIFORNIA INC 0.2%

Value ($000) $4,846 Shares 251,202 Est. Cost $13.26 Unrealized +34.6%

MBIN MERCHANTS BANCORP IND 0.4%

Value ($000) $9,324 Shares 273,747 Est. Cost $21.90 Unrealized +49.6%

TOL TOLL BROTHERS INC 1.8%

Value ($000) $44,314 Shares 327,715 Est. Cost $97.04 Unrealized +39.9%

DCOM DIME CMNTY BANCSHARES INC 2.5%

Value ($000) $61,659 Shares 2,049,143 Est. Cost $23.92 Unrealized +19.6%

FLG FLAGSTAR BANK NATIONAL ASSOC 0.3%

Value ($000) $6,194 Shares 491,956 Est. Cost $10.59 Unrealized +12.9%

SSB SOUTHSTATE BK CORP 0.4%

Value ($000) $10,087 Shares 107,184 Est. Cost $96.71 Unrealized -5.0%

USCB USCB FINANCIAL HOLDINGS INC 0.3%

Value ($000) $8,072 Shares 438,211 Est. Cost $12.04 Unrealized +48.4%

— SYNOVUS FINL CORP 0.9%

Value ($000) $21,564 Shares 430,841 Est. Cost $31.33 Unrealized —

TCBK TRICO BANCSHARES 0.3%

Value ($000) $6,536 Shares 137,981 Est. Cost $21.51 Unrealized +113.3%

UMBF UMB FINL CORP 0.5%

Value ($000) $13,243 Shares 115,120 Est. Cost $82.01 Unrealized +38.1%

BUR BURFORD CAP LTD 0.0%

Value ($000) $1,054 Shares 118,200 Est. Cost $9.14 Unrealized +7.2%

WAL WESTERN ALLIANCE BANCORP 0.5%

Value ($000) $11,195 Shares 133,164 Est. Cost $61.68 Unrealized +30.7%

MCB METROPOLITAN BK HLDG CORP 0.7%

Value ($000) $16,911 Shares 221,460 Est. Cost $46.76 Unrealized +57.9%

C CITIGROUP INC 0.1%

Value ($000) $2,324 Shares 19,920 Est. Cost $48.92 Unrealized +111.8%

UBSI UNITED BANKSHARES INC WEST V 0.4%

Value ($000) $8,949 Shares 233,034 Est. Cost $33.40 Unrealized +11.5%

MDY SPDR S&P MIDCAP 400 ETF TR 0.9%

Value ($000) $22,974 Shares 38,082 Est. Cost $566.48 Unrealized —

FBNC FIRST BANCORP N C 0.3%

Value ($000) $6,261 Shares 123,266 Est. Cost $34.82 Unrealized +45.0%

HWC HANCOCK WHITNEY CORPORATION 0.6%

Value ($000) $14,593 Shares 229,158 Est. Cost $44.31 Unrealized +37.1%

WRLD WORLD ACCEP CORPORATION 0.0%

Value ($000) $1,149 Shares 8,186 Est. Cost $142.60 Unrealized +5.5%

TLT ISHARES TR 0.3%

Value ($000) $8,381 Shares 96,154 Est. Cost $108.57 Unrealized —

FITB FIFTH THIRD BANCORP 0.2%

Value ($000) $4,382 Shares 93,607 Est. Cost $17.88 Unrealized +144.2%

EVR EVERCORE INC 1.0%

Value ($000) $23,748 Shares 69,797 Est. Cost $123.85 Unrealized +159.1%

PFS PROVIDENT FINL SVCS INC 0.3%

Value ($000) $8,178 Shares 414,090 Est. Cost $15.46 Unrealized +23.0%

CBU COMMUNITY FINANCIAL SYSTEM I 0.3%

Value ($000) $7,019 Shares 122,201 Est. Cost $54.28 Unrealized +5.3%

NBN NORTHEAST BK PORTLAND ME 0.1%

Value ($000) $3,233 Shares 31,107 Est. Cost $19.74 Unrealized +372.7%

EWBC EAST WEST BANCORP INC 0.1%

Value ($000) $1,714 Shares 15,249 Est. Cost $53.12 Unrealized +98.0%

HOMB HOME BANCSHARES INC 0.2%

Value ($000) $4,626 Shares 166,538 Est. Cost $24.02 Unrealized +15.5%

WSBC WESBANCO INC 0.1%

Value ($000) $1,956 Shares 58,859 Est. Cost $44.56 Unrealized -27.5%

BUSE FIRST BUSEY CORP 0.1%

Value ($000) $2,788 Shares 117,192 Est. Cost $20.03 Unrealized +15.9%

KKR KKR & CO INC 0.1%

Value ($000) $3,272 Shares 25,666 Est. Cost $51.41 Unrealized +141.8%

MTB M & T BK CORP 0.1%

Value ($000) $2,692 Shares 13,360 Est. Cost $128.22 Unrealized +48.3%

AMP AMERIPRISE FINL INC 0.8%

Value ($000) $20,025 Shares 40,839 Est. Cost $292.05 Unrealized +62.2%

NBHC NATIONAL BK HLDGS CORP 0.1%

Value ($000) $1,785 Shares 46,956 Est. Cost $35.66 Unrealized +5.1%

CLST CATALYST BANCORP INC 0.0%

Value ($000) $177 Shares 11,246 Est. Cost $13.80 Unrealized +4.5%

EGBN EAGLE BANCORP INC MD 0.0%

Value ($000) $457 Shares 21,325 Est. Cost $41.02 Unrealized -53.1%

— PINNACLE FINL PARTNERS INC 0.1%

Value ($000) $1,475 Shares 15,461 Est. Cost $110.41 Unrealized —

ALRS ALERUS FINL CORP 0.1%

Value ($000) $1,357 Shares 60,240 Est. Cost $20.65 Unrealized +4.7%

SBCF SEACOAST BKG CORP FLA 0.0%

Value ($000) $200 Shares 6,374 Est. Cost $24.71 Unrealized +26.1%

ESQ ESQUIRE FINL HLDGS INC 1.1%

Value ($000) $27,429 Shares 268,727 Est. Cost $21.02 Unrealized +380.8%

FBK FB FINL CORP 0.1%

Value ($000) $1,853 Shares 33,216 Est. Cost $42.92 Unrealized +29.6%

AUB ATLANTIC UN BANKSHARES CORP 0.3%

Value ($000) $6,731 Shares 190,680 Est. Cost $27.78 Unrealized +21.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OMF	ONEMAIN HLDGS INC	918,845	$62,068	2.5%	$38.67	+57.2%	COM	68268W103
FCNCA	FIRST CTZNS BANCSHARES INC D	23,056	$49,482	2.0%	$531.89	+254.1%	CL A	31946M103
MS	MORGAN STANLEY	369,259	$65,555	2.7%	$39.29	+323.7%	COM NEW	617446448
COF	CAPITAL ONE FINL CORP	198,531	$48,116	1.9%	$146.91	+51.2%	COM	14040H105
SYF	SYNCHRONY FINANCIAL	285,303	$23,803	1.0%	$47.28	+61.4%	COM	87165B103
JPM	JPMORGAN CHASE & CO.	469,496	$151,281	6.1%	$39.58	+682.1%	COM	46625H100
LC	LENDINGCLUB CORP	824,482	$15,616	0.6%	$15.10	+17.0%	COM NEW	52603A208
APO	APOLLO GLOBAL MGMT INC	202,518	$29,317	1.2%	$60.86	+117.8%	COM	03769M106
FNB	F N B CORP	2,113,113	$36,134	1.5%	$10.68	+52.3%	COM	302520101
PHM	PULTE GROUP INC	135,730	$15,916	0.6%	$63.14	+93.9%	COM	745867101
FNF	FIDELITY NATIONAL FINANCIAL	334,183	$18,243	0.7%	$14.85	+268.9%	COM SHS	31620R303
CMA	COMERICA INC	89,972	$7,821	0.3%	$45.28	+76.7%	COM	200340107
BKU	BANKUNITED INC	256,358	$11,426	0.5%	$34.34	+19.7%	COM	06652K103
CAC	CAMDEN NATL CORP	247,699	$10,745	0.4%	$22.06	+80.7%	COM	133034108
MOFG	MIDWESTONE FINL GROUP INC NE	106,660	$4,106	0.2%	$28.99	+25.8%	COM	598511103
KBH	KB HOME	103,217	$5,822	0.2%	$33.46	+82.7%	COM	48666K109
BANC	BANC OF CALIFORNIA INC	251,202	$4,846	0.2%	$13.26	+34.6%	COM	05990K106
MBIN	MERCHANTS BANCORP IND	273,747	$9,324	0.4%	$21.90	+49.6%	COM	58844R108
TOL	TOLL BROTHERS INC	327,715	$44,314	1.8%	$97.04	+39.9%	COM	889478103
DCOM	DIME CMNTY BANCSHARES INC	2,049,143	$61,659	2.5%	$23.92	+19.6%	COM	25432X102
FLG	FLAGSTAR BANK NATIONAL ASSOC	491,956	$6,194	0.3%	$10.59	+12.9%	COM NEW	649445400
SSB	SOUTHSTATE BK CORP	107,184	$10,087	0.4%	$96.71	-5.0%	COM	84472E102
USCB	USCB FINANCIAL HOLDINGS INC	438,211	$8,072	0.3%	$12.04	+48.4%	CLASS A COM	90355N101
—	SYNOVUS FINL CORP	430,841	$21,564	0.9%	$31.33	—	COM NEW	87161C501
TCBK	TRICO BANCSHARES	137,981	$6,536	0.3%	$21.51	+113.3%	COM	896095106
UMBF	UMB FINL CORP	115,120	$13,243	0.5%	$82.01	+38.1%	COM	902788108
BUR	BURFORD CAP LTD	118,200	$1,054	0.0%	$9.14	+7.2%	ORD SHS	G17977110
WAL	WESTERN ALLIANCE BANCORP	133,164	$11,195	0.5%	$61.68	+30.7%	COM	957638109
MCB	METROPOLITAN BK HLDG CORP	221,460	$16,911	0.7%	$46.76	+57.9%	COM	591774104
C	CITIGROUP INC	19,920	$2,324	0.1%	$48.92	+111.8%	COM NEW	172967424
UBSI	UNITED BANKSHARES INC WEST V	233,034	$8,949	0.4%	$33.40	+11.5%	COM	909907107
MDY	SPDR S&P MIDCAP 400 ETF TR	38,082	$22,974	0.9%	$566.48	—	UTSER1 S&PDCRP	78467Y107
FBNC	FIRST BANCORP N C	123,266	$6,261	0.3%	$34.82	+45.0%	COM	318910106
HWC	HANCOCK WHITNEY CORPORATION	229,158	$14,593	0.6%	$44.31	+37.1%	COM	410120109
WRLD	WORLD ACCEP CORPORATION	8,186	$1,149	0.0%	$142.60	+5.5%	COM	981419104
TLT	ISHARES TR	96,154	$8,381	0.3%	$108.57	—	20 YR TR BD ETF	464287432
FITB	FIFTH THIRD BANCORP	93,607	$4,382	0.2%	$17.88	+144.2%	COM	316773100
EVR	EVERCORE INC	69,797	$23,748	1.0%	$123.85	+159.1%	CLASS A	29977A105
PFS	PROVIDENT FINL SVCS INC	414,090	$8,178	0.3%	$15.46	+23.0%	COM	74386T105
CBU	COMMUNITY FINANCIAL SYSTEM I	122,201	$7,019	0.3%	$54.28	+5.3%	COM	203607106
NBN	NORTHEAST BK PORTLAND ME	31,107	$3,233	0.1%	$19.74	+372.7%	COM	66405S100
EWBC	EAST WEST BANCORP INC	15,249	$1,714	0.1%	$53.12	+98.0%	COM	27579R104
HOMB	HOME BANCSHARES INC	166,538	$4,626	0.2%	$24.02	+15.5%	COM	436893200
WSBC	WESBANCO INC	58,859	$1,956	0.1%	$44.56	-27.5%	COM	950810101
BUSE	FIRST BUSEY CORP	117,192	$2,788	0.1%	$20.03	+15.9%	COM NEW	319383204
KKR	KKR & CO INC	25,666	$3,272	0.1%	$51.41	+141.8%	COM	48251W104
MTB	M & T BK CORP	13,360	$2,692	0.1%	$128.22	+48.3%	COM	55261F104
AMP	AMERIPRISE FINL INC	40,839	$20,025	0.8%	$292.05	+62.2%	COM	03076C106
NBHC	NATIONAL BK HLDGS CORP	46,956	$1,785	0.1%	$35.66	+5.1%	CL A	633707104
CLST	CATALYST BANCORP INC	11,246	$177	0.0%	$13.80	+4.5%	COMMON STOCK	14888L101
EGBN	EAGLE BANCORP INC MD	21,325	$457	0.0%	$41.02	-53.1%	COM	268948106
—	PINNACLE FINL PARTNERS INC	15,461	$1,475	0.1%	$110.41	—	COM	72346Q104
ALRS	ALERUS FINL CORP	60,240	$1,357	0.1%	$20.65	+4.7%	COM	01446U103
SBCF	SEACOAST BKG CORP FLA	6,374	$200	0.0%	$24.71	+26.1%	COM NEW	811707801
ESQ	ESQUIRE FINL HLDGS INC	268,727	$27,429	1.1%	$21.02	+380.8%	COM	29667J101
FBK	FB FINL CORP	33,216	$1,853	0.1%	$42.92	+29.6%	COM	30257X104
AUB	ATLANTIC UN BANKSHARES CORP	190,680	$6,731	0.3%	$27.78	+21.9%	COM	04911A107