Q4 2025 Holdings
Filed 2026-02-18 | 65 holdings | $337.6M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Abacus Global Mgmt Inc(ABX) | CL A | 00258Y104 | $17.2M | 2,012,500 | 5.1% |
| Equity Bancshares Inc(EQBK) | COM CL A | 29460X109 | $17.2M | 385,236 | 5.1% |
| Primis Financial Corp(FRST) | COM | 74167B109 | $16.9M | 1,217,327 | 5.0% |
| Versabank New(VBNK) | COM | 92512J106 | $15.4M | 1,057,693 | 4.6% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $13.6M | 20,000 | 4.0% |
| Spdr Series Trust(KRE)Put | STATE STREET SPD | 78464A698 | $11.3M | 175,000 | 3.4% |
| First Horizon Corporation(FHN) | COM | 320517105 | $11.1M | 465,000 | 3.3% |
| Select Sector Spdr TR(XLF)Put | STATE STREET FIN | 81369Y605 | $11.0M | 200,000 | 3.2% |
| Mechanics Bancorp(MCHB) | CL A | 43785V102 | $10.6M | 726,502 | 3.1% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $9.8M | 40,000 | 2.9% |
| Renasant Corp(RNST) | COM | 75970E107 | $9.5M | 270,000 | 2.8% |
| Commercial Bancgroup Inc(CBK) | COM | 20112C106 | $9.2M | 374,847 | 2.7% |
| Uscb Financial Holdings Inc(USCB) | CLASS A COM | 90355N101 | $9.0M | 487,142 | 2.7% |
| Ishares TR(HYG)Put | IBOXX HI YD ETF | 464288513 | $8.1M | 100,000 | 2.4% |
| Origin Bancorp Inc(OBK) | COM | 68621T102 | $7.5M | 200,000 | 2.2% |
| Midwestone Finl Group Inc NE(MOFG) | COM | 598511103 | $7.1M | 184,100 | 2.1% |
| First Westn Finl Inc(MYFW) | COM | 33751L105 | $6.8M | 253,336 | 2.0% |
| FB Finl Corp(FBK) | COM | 30257X104 | $6.7M | 120,000 | 2.0% |
| Business First Bancshares in(BFST) | COM | 12326C105 | $6.5M | 250,000 | 1.9% |
| Amerant Bancorp Inc(AMTB) | CL A | 023576101 | $6.4M | 326,408 | 1.9% |
| Avidbank Hldgs Inc(AVBH) | COM | 05368J103 | $6.2M | 234,553 | 1.8% |
| Coastalsouth Bancshares Inc(COSO) | COM NEW | 19058X207 | $6.2M | 265,788 | 1.8% |
| Truist Finl Corp(TFC)Call | COM | 89832Q109 | $6.2M | 125,000 | 1.8% |
| Firstsun Cap Bancorp(FSUN) | COM | 33767U107 | $5.3M | 140,515 | 1.6% |
| Civista Bancshares Inc(CIVB) | COM NO PAR | 178867107 | $5.0M | 225,335 | 1.5% |
| Banc of California Inc(BANC) | COM | 05990K106 | $4.8M | 250,000 | 1.4% |
| California Bancorp(BCAL) | COM | 84252A106 | $4.8M | 254,878 | 1.4% |
| Central Bancompany(CBC) | COM CL A | 152413100 | $4.7M | 200,601 | 1.4% |
| Simmons 1ST Natl Corp(SFNC) | CL A $1 PAR | 828730200 | $4.7M | 250,000 | 1.4% |
| Spdr Series Trust(KBE)Put | STATE STREET SPD | 78464A797 | $4.6M | 75,000 | 1.3% |
| Flagstar Bank National Assoc(FLG) | COM NEW | 649445400 | $4.0M | 316,332 | 1.2% |
| Byline Bancorp Inc(BY) | COM | 124411109 | $3.6M | 125,000 | 1.1% |
| First Merchants Corp(FRME) | COM | 320817109 | $3.6M | 95,000 | 1.1% |
| Atlantic UN Bankshares Corp(AUB) | COM | 04911A107 | $3.5M | 100,000 | 1.0% |
| Coastal Finl Corp WA(CCB) | COM NEW | 19046P209 | $3.4M | 30,000 | 1.0% |
| State STR Corp(STT)Call | COM | 857477103 | $3.2M | 25,000 | 1.0% |
| PNC Finl Svcs Group Inc(PNC)Put | COM | 693475105 | $3.1M | 15,000 | 0.9% |
| Financial Instns Inc(FISI) | COM | 317585404 | $3.1M | 100,000 | 0.9% |
| Keycorp(KEY)Put | COM | 493267108 | $3.1M | 150,000 | 0.9% |
| Citizens Finl Group Inc(CFG)Put | COM | 174610105 | $2.9M | 50,000 | 0.9% |
| Beacon Financial Corp.(BBT) | COM | 084680107 | $2.8M | 106,393 | 0.8% |
| Northpointe Bancshares Inc.(NPB) | COM SHS | 66661N886 | $2.8M | 165,614 | 0.8% |
| Shore Bancshares Inc(SHBI) | COM | 825107105 | $2.7M | 155,290 | 0.8% |
| First Fndtn Inc(FFWM) | COM | 32026V104 | $2.5M | 400,000 | 0.7% |
| Nicolet Bankshares Inc(NIC) | COM | 65406E102 | $2.4M | 20,000 | 0.7% |
| Carter Bankshares Inc(CARE) | COM NEW | 146103106 | $2.3M | 117,392 | 0.7% |
| Provident Finl Svcs Inc(PFS) | COM | 74386T105 | $2.3M | 115,000 | 0.7% |
| Bridgewater Bancshares Inc(BWB) | COM | 108621103 | $2.1M | 120,000 | 0.6% |
| Hometrust Bancshares Inc(HTB) | COM | 437872104 | $2.0M | 46,847 | 0.6% |
| Old Second Bancorp Inc ILL(OSBC) | COM | 680277100 | $2.0M | 100,000 | 0.6% |