The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it 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 |
| AXOS FINANCIAL INC | COM | 05465C100 | 270,200 | 5,000 | SH | SOLE | N/A | 5,000 | 0 | 0 | |
| BANC OF CALIFORNIA INC | COM | 05990K106 | 20,118,283 | 1,348,130 | SH | SOLE | N/A | 1,348,130 | 0 | 0 | |
| BANKUNITED INC | COM | 06652K103 | 420,000 | 15,000 | SH | SOLE | N/A | 15,000 | 0 | 0 | |
| CHUBB LIMITED | COM | H1467J104 | 1,036,520 | 4,000 | SH | SOLE | N/A | 4,000 | 0 | 0 | |
| CHUBB LIMITED | COM | H1467J104 | 1,295,650 | 5,000 | SH | Put | SOLE | N/A | 5,000 | 0 | 0 |
| ENACT HLDGS INC | COM | 29249E109 | 82,736,224 | 2,653,503 | SH | SOLE | N/A | 2,653,503 | 0 | 0 | |
| FIRST AMERN FINL CORP | COM | 31847R102 | 671,550 | 11,000 | SH | SOLE | N/A | 11,000 | 0 | 0 | |
| GLOBE LIFE INC | COM | 37959E102 | 863,582 | 7,421 | SH | SOLE | N/A | 7,421 | 0 | 0 | |
| GUILD HLDGS CO | CL A | 40172N107 | 18,224,009 | 1,235,526 | SH | SOLE | N/A | 1,235,526 | 0 | 0 | |
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 257,625 | 2,500 | SH | SOLE | N/A | 2,500 | 0 | 0 | |
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 1,288,125 | 12,500 | SH | Put | SOLE | N/A | 12,500 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 | 1,046,250 | 75,000 | SH | SOLE | N/A | 75,000 | 0 | 0 | |
| HUNTINGTON BANCSHARES INC | COM | 446150104 | 1,395,000 | 100,000 | SH | Put | SOLE | N/A | 100,000 | 0 | 0 |
| ISHARES TR | MORTGE REL ETF | 46435G342 | 581,000 | 25,000 | SH | SOLE | N/A | 25,000 | 0 | 0 | |
| ISHARES TR | U.S. REAL ES ETF | 464287739 | 53,940,000 | 600,000 | SH | SOLE | N/A | 600,000 | 0 | 0 | |
| ISHARES TR | US HOME CONS ETF | 464288752 | 1,041,930 | 9,000 | SH | SOLE | N/A | 9,000 | 0 | 0 | |
| JPMORGAN CHASE & CO | COM | 46625H100 | 901,350 | 4,500 | SH | SOLE | N/A | 4,500 | 0 | 0 | |
| JPMORGAN CHASE & CO | COM | 46625H100 | 1,201,800 | 6,000 | SH | Put | SOLE | N/A | 6,000 | 0 | 0 |
| MERITAGE HOMES CORP | COM | 59001A102 | 526,380 | 3,000 | SH | SOLE | N/A | 3,000 | 0 | 0 | |
| MFA FINL INC | COM | 55272X607 | 798,700 | 70,000 | SH | SOLE | N/A | 70,000 | 0 | 0 | |
| NEW YORK CMNTY BANCORP INC | COM | 649445103 | 22,820,831 | 7,500 | SH | SOLE | N/A | 7,500 | 0 | 0 | |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | 16,426,800 | 390,000 | SH | SOLE | N/A | 390,000 | 0 | 0 | |
| SPDR SER TR | S&P REGL BKG | 78464A698 | 22,626,000 | 450,000 | SH | SOLE | N/A | 450,000 | 0 | 0 | |
| TRUIST FINL CORP | COM | 89832Q109 | 935,520 | 24,000 | SH | SOLE | N/A | 24,000 | 0 | 0 | |
| TRUIST FINL CORP | COM | 89832Q109 | 1,364,300 | 35,000 | SH | Put | SOLE | N/A | 35,000 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 | 1,117,500 | 25,000 | SH | SOLE | N/A | 25,000 | 0 | 0 | |
| US BANCORP DEL | COM NEW | 902973304 | 1,564,500 | 35,000 | SH | Put | SOLE | N/A | 35,000 | 0 | 0 |
| WALKER & DUNLOP INC | COM | 93148P102 | 353,710 | 3,500 | SH | SOLE | N/A | 3,500 | 0 | 0 | |
| WALKER & DUNLOP INC | COM | 93148P102 | 1,010,600 | 10,000 | SH | Put | SOLE | N/A | 10,000 | 0 | 0 |
| WEBSTER FINL CORP | COM | 947890109 | 507,700 | 10,000 | SH | SOLE | N/A | 10,000 | 0 | 0 | |