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
Amerant Bancorp CL B	common	023576200	3,051	185,488	SH		SOLE		185,488	0	0
Ameris Bancorp	common	03076K108	2,493	47,480	SH		SOLE		47,480	0	0
Bank of NT Butterfield & Son	common	G0772R208	382	10,000	SH		SOLE		10,000	0	0
Berkshire Hill Bancorp	common	084680107	9	401	SH		SOLE		401	0	0
Bank of Nova Scotia Apr 16 2021 60	put	064149957	8	350	PRN	Put	SOLE		350	0	0
Canadian Imp BK COMM Apr 16 2021 95	put	136069951	8	300	PRN	Put	SOLE		300	0	0
Cecil Bancorp, Inc.	common	149841306	1,243	367,500	SH		SOLE		367,500	0	0
Citigroup	common	172967424	247	3,400	SH		SOLE		3,400	0	0
Citigroup Jan 20 2023 37.50	call	172967904	1,775	500	PRN	Call	SOLE		500	0	0
Coastal Financial Corporation	common	19046P209	490	18,700	SH		SOLE		18,700	0	0
Communities First Financial Corp	common	20344D104	6,638	161,913	SH		SOLE		161,913	0	0
FB Financial Corp	common	30257X104	5,256	118,225	SH		SOLE		118,225	0	0
Figure Acquisition Corp I	Unit	302438205	1,253	123,792	SH		SOLE		123,792	0	0
First Bancorp NC	common	318910106	4,800	110,353	SH		SOLE		110,353	0	0
First Bancshares Inc MS	common	318916103	7,668	209,450	SH		SOLE		209,450	0	0
First Intst Bancsystem CL A	common	32055Y201	3,155	68,531	SH		SOLE		68,531	0	0
Flushing Financial	common	343873105	2,335	110,000	SH		SOLE		110,000	0	0
Gateway Bank FSB	common	36758P102	1,140	3,000,000	SH		SOLE		3,000,000	0	0
Grandsouth Bancorporation	common	386627301	2,668	131,118	SH		SOLE		131,118	0	0
Great Southn Bancorp	common	390905107	61	1,080	SH		SOLE		1,080	0	0
Heritage Commerce Corp	common	426927109	2,823	231,000	SH		SOLE		231,000	0	0
Intelligent Systems Corp New	common	45816D100	1,270	31,052	SH		SOLE		31,052	0	0
iShares Trust 20 Plus Year Treas 04/16/21 145	call	464287902	105	10,000	PRN	Call	SOLE		10,000	0	0
iShares Trust IBOXX HI YD ETF Apr 01 2021 85	put	464288953	2	1,000	PRN	Put	SOLE		1,000	0	0
iShares Trust IBOXX HI YD ETF Jun 18 2021 90	call	464288903	4	1,000	PRN	Call	SOLE		1,000	0	0
iShares Trust IBOXX HI YD ETF Jun 18 2021 79	put	464288953	122	4,000	PRN	Put	SOLE		4,000	0	0
Lakeland Bancorp Inc	common	511637100	1,519	87,162	SH		SOLE		87,162	0	0
McHenry Bancorp, Inc.	common	580683100	1,782	17,262,875	SH		SOLE		17,262,875	0	0
Metro Phoenix Bank	common	59165E106	1,540	116,667	SH		SOLE		116,667	0	0
MVB Financial	common	553810102	830	24,548	SH		SOLE		24,548	0	0
NCINO Inc	common	63947U107	2,669	40,000	SH		SOLE		40,000	0	0
NCINO Inc Apr 16 2021 55	put	63947U907	9	200	PRN	Put	SOLE		200	0	0
Old Natl Bancorp IND	common	680033107	812	42,000	SH		SOLE		42,000	0	0
Oregon Pacific Bancorp	common	686040205	1,630	258,334	SH		SOLE		258,334	0	0
Pacific Premier Bancorp	common	69478X105	3,907	89,945	SH		SOLE		89,945	0	0
Pacific West Bank	common	69506W202	2,236	162,590	SH		SOLE		162,590	0	0
Pacwest Bancorp DEL	common	695263103	3,701	97,000	SH		SOLE		97,000	0	0
PAYA Holdings Inc CL A	common	70434P103	154	14,014	SH		SOLE		14,014	0	0
PAYA Holdings Inc CL A Aug 20 2021 10	call	70434P903	123	623	PRN	Call	SOLE		623	0	0
Paypal Holdings Inc	common	70450Y103	1,360	5,600	SH		SOLE		5,600	0	0
Paysafe Limited Ord	common	G6964L107	1,694	125,500	SH		SOLE		125,500	0	0
Paysign Inc.	common	70451A104	509	116,410	SH		SOLE		116,410	0	0
Paysign Inc. Jan 21 2022 5	call	70451A904	149	1,756	PRN	Call	SOLE		1,756	0	0
Popular Inc. July 16 2021 55	call	733174900	35	22	PRN	Call	SOLE		22	0	0
Reliant Bancorp	common	75956B101	3,480	121,171	SH		SOLE		121,171	0	0
Royal BK CDA Montreal Apr 16 2021 80	put	780087952	2	300	PRN	Put	SOLE		300	0	0
Riverview Bancorp Inc	common	769397100	10	1,500	SH		SOLE		1,500	0	0
Financial Select Sector SPDR ETF Jan 21 2022 30	call	81369Y905	818	1,500	PRN	Call	SOLE		1,500	0	0
Financial Select Sector SPDR ETF Jan 21 2022 35	call	81369Y905	972	4,500	PRN	Call	SOLE		4,500	0	0
Financial Select Sector SPDR ETF Jan 21 2022 40	call	81369Y905	163	2,500	PRN	Call	SOLE		2,500	0	0
Financial Select Sector SPDR ETF Apr 01 2021 32	put	81369Y955	9	17,000	PRN	Put	SOLE		17,000	0	0
Financial Select Sector SPDR ETF Apr 09 2021 31	put	81369Y955	30	20,000	PRN	Put	SOLE		20,000	0	0
Financial Select Sector SPDR ETF Apr 09 2021 32	put	81369Y955	138	25,000	PRN	Put	SOLE		25,000	0	0
Financial Select Sector SPDR ETF Apr 16 2021 31	put	81369Y955	70	10,000	PRN	Put	SOLE		10,000	0	0
Financial Select Sector SPDR ETF Apr 16 2021 31.50	put	81369Y955	125	12,500	PRN	Put	SOLE		12,500	0	0
Financial Select Sector SPDR ETF Apr 16 2021 32.50	put	81369Y955	390	20,000	PRN	Put	SOLE		20,000	0	0
Financial Select Sector SPDR ETF Jun 18 2021 37	call	81369Y905	193	5,000	PRN	Call	SOLE		5,000	0	0
Financial Select Sector SPDR ETF Sept 17 2021 25	put	81369Y955	115	5,000	PRN	Put	SOLE		5,000	0	0
South State Corp	common	840441109	1,390	17,700	SH		SOLE		17,700	0	0
Southcrest Financial Group	common	84129X107	1,555	148,140	SH		SOLE		148,140	0	0
SPDR S&P Regional Banking ETF Apr 01 2021 62	put	78464A958	15	5,000	PRN	Put	SOLE		5,000	0	0
Square Inc Apr 16 2021 260	call	852234903	14	100	PRN	Call	SOLE		100	0	0
Texas Cap Bancshares Inc Apr 16 2021 80	call	88224Q907	7	100	PRN	Call	SOLE		100	0	0
Toronto Dominion BK ONT Apr 16 2021 62.50	put	891160959	14	500	PRN	Put	SOLE		500	0	0
United Bancorporation Ala CL A	common	90944R100	4,570	157,586	SH		SOLE		157,586	0	0
United Bankshares Inc West VA	common	909907107	1,312	34,000	SH		SOLE		34,000	0	0
United Community Banks Inc	common	90984P303	3,105	91,000	SH		SOLE		91,000	0	0
US Metro Bank	common	90343B102	3,055	940,073	SH		SOLE		940,073	0	0
Veritex Holdings Inc	common	923451108	1,818	55,550	SH		SOLE		55,550	0	0
Voyager Digital Ltd	common	92919V108	2,548	98,000	SH		SOLE		98,000	0	0
Well Fargo & Co New Jun 18 2021 35	call	949746901	758	1,500	PRN	Call	SOLE		1,500	0	0
Western Alliance Bancorp	common	957638109	2,656	28,121	SH		SOLE		28,121	0	0
ZIONS Bancorporation N A Jan 21 2022 35	call	989701907	308	150	PRN	Call	SOLE		150	0	0