JCSD Capital 13F-HR Quarterly holdings report by institutional manager

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

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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
Ameris Bancorp	common	03076K108	1,808	47,480	SH		SOLE		0	0	0
Bank of Fincastle	common	062113105	1,274	563,917	SH		SOLE		0	0	0
Berkshire Hill Bancorp	common	084680107	1,553	90,701	SH		SOLE		0	0	0
Canadian Imp BK COMM Jan 15 2021 85	put	136069951	37	400	PRN		SOLE		0	0	0
Cecil Bancorp, Inc.	common	149841306	909	367,500	SH		SOLE		0	0	0
Citigroup	common	172967424	210	3,400	SH		SOLE		0	0	0
Citigroup Jan 20 2023 37.50	call	172967904	1,240	500	PRN	Call	SOLE		0	0	0
Coastal Financial Corporation	common	19046P209	393	18,700	SH		SOLE		0	0	0
Communities First Financial Corp	common	20344D104	5,730	178,913	SH		SOLE		0	0	0
FB Financial Corp	common	30257X104	4,384	126,225	SH		SOLE		0	0	0
First Bancorp NC	common	318910106	3,733	110,353	SH		SOLE		0	0	0
First Bancshares Inc MS	common	318916103	6,468	209,450	SH		SOLE		0	0	0
First Intst Bancsystem CL A	common	32055Y201	2,794	68,531	SH		SOLE		0	0	0
Flushing Financial	common	343873105	1,830	110,000	SH		SOLE		0	0	0
Foley Trasimene Acquisition CL A	common	344328109	1,525	101,000	SH		SOLE		0	0	0
Gateway Bank FSB	common	36758P102	1,103	3,000,000	SH		SOLE		0	0	0
Grandsouth Bancorporation	common	386627301	4,029	263,768	SH		SOLE		0	0	0
Great Southn Bancorp	common	390905107	53	1,080	SH		SOLE		0	0	0
Heritage Commerce Corp	common	426927109	2,182	246,000	SH		SOLE		0	0	0
Intelligent Systems Corp New	common	45816D100	1,005	25,052	SH		SOLE		0	0	0
Investar Holding Corp	common	46134L105	3,235	195,573	SH		SOLE		0	0	0
iShares Trust IBOXX HI YD ETF Jan 15 2021 83	put	464288953	19	2,500	PRN	Put	SOLE		0	0	0
iShares Trust IBOXX HI YD ETF Mar 19 2021 90	call	464288903	2	650	PRN	Call	SOLE		0	0	0
iShares Trust IBOXX HI YD ETF Mar 19 2021 78	put	464288953	14	500	PRN	Put	SOLE		0	0	0
iShares Trust IBOXX HI YD ETF Jun 18 2021 79	put	464288953	193	2,000	PRN	Put	SOLE		0	0	0
Lakeland Bancorp Inc	common	511637100	1,107	87,162	SH		SOLE		0	0	0
MainStreet Bancshares Inc	common	56064Y100	5	315	SH		SOLE		0	0	0
McHenry Bancorp, Inc.	common	580683100	1,516	17,262,875	SH		SOLE		0	0	0
Metro Phoenix Bank	common	59165E106	1,513	131,667	SH		SOLE		0	0	0
MVB Financial	common	553810102	557	24,548	SH		SOLE		0	0	0
NCINO Inc	common	63947U107	724	10,000	SH		SOLE		0	0	0
NCINO Inc Jan 15 2021 95	call	63947U907	2	100	PRN	Call	SOLE		0	0	0
Old Natl Bancorp IND	common	680033107	1,656	100,000	SH		SOLE		0	0	0
Oregon Pacific Bancorp	common	686040205	1,863	358,334	SH		SOLE		0	0	0
Pacific Premier Bancorp	common	69478X105	3,257	103,945	SH		SOLE		0	0	0
Pacific West Bank	common	69506W202	1,796	164,390	SH		SOLE		0	0	0
Pacwest Bancorp DEL	common	695263103	2,540	100,000	SH		SOLE		0	0	0
Paysign Inc.	common	70451A104	226	48,742	SH		SOLE		0	0	0
Paysign Inc. Jan 21 2022 5	call	70451A904	259	1,756	PRN	Call	SOLE		0	0	0
Popular Inc	common	733174700	946	16,800	SH		SOLE		0	0	0
Popular Inc. July 16 2021 55	call	733174900	15	22	PRN	Call	SOLE		0	0	0
Reliant Bancorp	common	75956B101	2,442	131,171	SH		SOLE		0	0	0
Royal BK CDA Montreal Jan 15 2021 75	put	780087952	1	100	PRN	Put	SOLE		0	0	0
Royal BK CDA Montreal Apr 16 2021 80	put	780087952	85	300	PRN	Put	SOLE		0	0	0
Financial Select Sector SPDR ETF Jan 15 2021 25	put	81369Y955	30	15,000	PRN	Put	SOLE		0	0	0
Financial Select Sector SPDR ETF Jan 15 2021 26	put	81369Y955	1	302	PRN	Put	SOLE		0	0	0
Financial Select Sector SPDR ETF Jan 15 2021 26.50	put	81369Y955	20	5,000	PRN	Put	SOLE		0	0	0
Financial Select Sector SPDR ETF Jan 21 2022 30	call	81369Y905	740	3,000	PRN	Call	SOLE		0	0	0
Financial Select Sector SPDR ETF Jan 21 2022 35	call	81369Y905	362	4,500	PRN	Call	SOLE		0	0	0
Financial Select Sector SPDR ETF Jun 18 2021 30	call	81369Y905	573	3,400	PRN	Call	SOLE		0	0	0
South State Corp	common	840441109	1,280	17,700	SH		SOLE		0	0	0
Southcrest Financial Group	common	84129X107	1,222	148,140	SH		SOLE		0	0	0
SPDR S&P Regional Banking ETF Jan 15 2021 40	put	78464A958	38	7,500	PRN	Put	SOLE		0	0	0
Toronto Dominion BK ONT Feb 19 2021 55	put	891160959	58	500	PRN	Put	SOLE		0	0	0
United Bancorporation Ala CL A	common	90944R100	4,014	180,072	SH		SOLE		0	0	0
United Bankshares Inc	common	909907107	1,102	34,000	SH		SOLE		0	0	0
United Community Banks Inc	common	90984P303	2,844	100,000	SH		SOLE		0	0	0
US Metro Bank	common	90343B102	3,200	1,107,323	SH		SOLE		0	0	0
Veritex Holdings Inc	common	923451108	2,503	97,550	SH		SOLE		0	0	0
Well Fargo & Co New Jun 18 2021 35	call	949746901	213	1,500	PRN	Call	SOLE		0	0	0
Western Alliance Bancorp	common	957638109	4,414	73,621	SH		SOLE		0	0	0
ZIONS Bancorporation N A Jan 21 2022 35	call	989701907	167	150	PRN	Call	SOLE		0	0	0