The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLSTATE CORP COM 020002101 2,013,100 10,000 SH Call SOLE N/A 10,000 0 0
ANNALY CAPITAL MANAGEMENT IN COM NEW 035710839 1,787,900 95,000 SH SOLE N/A 95,000 0 0
ANNALY CAPITAL MANAGEMENT IN COM NEW 035710839 2,352,500 125,000 SH Put SOLE N/A 125,000 0 0
BANC OF CALIFORNIA INC COM 05990K106 13,953,477 993,130 SH SOLE N/A 993,130 0 0
BANK AMERICA CORP COM 060505104 2,011,100 42,500 SH SOLE N/A 42,500 0 0
BANK AMERICA CORP COM 060505104 3,549,000 75,000 SH Put SOLE N/A 75,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 3,234,405 35,500 SH SOLE N/A 35,500 0 0
BANK NEW YORK MELLON CORP COM 064058100 4,099,950 45,000 SH Put SOLE N/A 45,000 0 0
BANKUNITED INC COM 06652K103 1,423,600 40,000 SH SOLE N/A 40,000 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 8,634,493 344,828 SH SOLE N/A 344,828 0 0
CITIGROUP INC COM NEW 172967424 1,702,400 20,000 SH SOLE N/A 20,000 0 0
CITIGROUP INC COM NEW 172967424 2,553,600 30,000 SH Put SOLE N/A 30,000 0 0
D R HORTON INC COM 23331A109 630,419 4,890 SH SOLE N/A 4,890 0 0
ESSENT GROUP LTD COM G3198U102 746,979 12,300 SH SOLE N/A 12,300 0 0
F N B CORP COM 302520101 364,500 25,000 SH SOLE N/A 25,000 0 0
FINANCIAL INSTNS INC COM 317585404 2,249,157 87,584 SH SOLE N/A 87,584 0 0
FIRST AMERN FINL CORP COM 31847R102 1,177,890 19,187 SH SOLE N/A 19,187 0 0
FIRST BUSEY CORP COM NEW 319383204 1,473,451 64,385 SH SOLE N/A 64,385 0 0
FLAGSTAR FINANCIAL INC COM NEW 649445400 1,766,660 166,666 SH SOLE N/A 166,666 0 0
GLOBE LIFE INC COM 37959E102 372,870 3,000 SH SOLE N/A 3,000 0 0
GUILD HLDGS CO CL A 40172N107 31,549,836 1,595,844 SH SOLE N/A 1,595,844 0 0
HARTFORD INSURANCE GROUP INC COM 416515104 2,537,400 20,000 SH Call SOLE N/A 20,000 0 0
ISHARES TR MORTGE REL ETF 46435G342 1,528,670 71,500 SH Put SOLE N/A 71,500 0 0
ISHARES TR US HOME CONS ETF 464288752 1,816,815 19,500 SH Call SOLE N/A 19,500 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,705,860 18,000 SH Put SOLE N/A 18,000 0 0
JONES LANG LASALLE INC COM 48020Q107 313,586 1,226 SH SOLE N/A 1,226 0 0
JPMORGAN CHASE & CO. COM 46625H100 2,609,190 9,000 SH SOLE N/A 9,000 0 0
JPMORGAN CHASE & CO. COM 46625H100 5,798,200 20,000 SH Put SOLE N/A 20,000 0 0
MERITAGE HOMES CORP COM 59001A102 260,915 3,896 SH SOLE N/A 3,896 0 0
NORTHERN TR CORP COM 665859104 1,267,900 10,000 SH SOLE N/A 10,000 0 0
NORTHERN TR CORP COM 665859104 2,535,800 20,000 SH Put SOLE N/A 20,000 0 0
OLD NATL BANCORP IND COM 680033107 996,237 46,684 SH SOLE N/A 46,684 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,237,040 12,000 SH SOLE N/A 12,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,796,300 15,000 SH Put SOLE N/A 15,000 0 0
POPULAR INC COM NEW 733174700 1,576,774 14,307 SH SOLE N/A 14,307 0 0
PULTE GROUP INC COM 745867101 983,942 9,330 SH SOLE N/A 9,330 0 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 1,975,680 84,000 SH SOLE N/A 84,000 0 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 2,352,000 100,000 SH Put SOLE N/A 100,000 0 0
RITHM CAPITAL CORP COM NEW 64828T201 987,875 87,500 SH SOLE N/A 87,500 0 0
SCHWAB CHARLES CORP COM 808513105 1,573,890 17,250 SH SOLE N/A 17,250 0 0
SCHWAB CHARLES CORP COM 808513105 2,281,000 25,000 SH Put SOLE N/A 25,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 100,215,270 162,200 SH Put SOLE N/A 162,200 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 4,454,250 75,000 SH Call SOLE N/A 75,000 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 7,423,750 125,000 SH Put SOLE N/A 125,000 0 0
STATE STR CORP COM 857477103 1,940,705 18,250 SH SOLE N/A 18,250 0 0
STATE STR CORP COM 857477103 2,658,500 25,000 SH Put SOLE N/A 25,000 0 0
TAYLOR MORRISON HOME CORP COM 87724P106 988,064 16,087 SH SOLE N/A 16,087 0 0
TRAVELERS COMPANIES INC COM 89417E109 1,792,518 6,700 SH SOLE N/A 6,700 0 0
TRAVELERS COMPANIES INC COM 89417E109 2,675,400 10,000 SH Put SOLE N/A 10,000 0 0
TRUIST FINL CORP COM 89832Q109 1,182,225 27,500 SH SOLE N/A 27,500 0 0
TRUIST FINL CORP COM 89832Q109 2,149,500 50,000 SH Put SOLE N/A 50,000 0 0
UMB FINL CORP COM 902788108 578,380 5,500 SH SOLE N/A 5,500 0 0
US BANCORP DEL COM NEW 902973304 2,262,500 50,000 SH SOLE N/A 50,000 0 0
US BANCORP DEL COM NEW 902973304 2,262,500 50,000 SH Put SOLE N/A 50,000 0 0
WESBANCO INC COM 950810101 1,708,020 54,000 SH SOLE N/A 54,000 0 0
ZIONS BANCORPORATION N A COM 989701107 1,038,800 20,000 SH SOLE N/A 20,000 0 0
ZIONS BANCORPORATION N A COM 989701107 2,077,600 40,000 SH Put SOLE N/A 40,000 0 0