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
Estimated average burden
hours per response: 23.8
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 COM 03076K108 9,074 315,600 SH   SOLE   315,600 0 0
ANCHOR BANCORP WA COM 032838104 5,223 237,103 SH   SOLE   237,103 0 0
ANCHOR BANCORP WIS INC DEL COM 03283P106 14,991 351,975 SH   SOLE   351,975 0 0
AVENUE FINL HLDGS INC COM 05358K102 1,977 149,800 SH   SOLE   149,800 0 0
BANCORPSOUTH INC COM 059692103 247 10,400 SH   SOLE   10,400 0 0
BANK AMER CORP COM 060505104 5,729 367,700 SH   SOLE   367,700 0 0
BANK OF MARIN BANCORP COM 063425102 3,264 68,018 SH   SOLE   68,018 0 0
BNC BANCORP COM 05566T101 6,696 301,200 SH   SOLE   301,200 0 0
BRIDGE BANCORP INC COM 108035106 2,760 103,327 SH   SOLE   103,327 0 0
BSB BANCORP INC MD COM 05573H108 4,998 236,406 SH   SOLE   236,406 0 0
C1 FINL INC COM 12591N109 4,847 254,432 SH   SOLE   254,432 0 0
CITIGROUP INC COM NEW 172967424 6,400 129,000 SH   SOLE   129,000 0 0
CITIZENS FINL GROUP INC COM 174610105 5,755 241,200 SH   SOLE   241,200 0 0
COMMERCE BANCSHARES INC COM 200525103 672 14,757 SH   SOLE   14,757 0 0
COMMUNITY BANKERS TR CORP COM 203612106 4,034 805,100 SH   SOLE   805,100 0 0
COMMUNITY WEST BANCSHARES COM 204157101 3,353 482,435 SH   SOLE   482,435 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 4,505 233,399 SH   SOLE   233,399 0 0
CU BANCORP CALIF COM 126534106 6,909 307,627 SH   SOLE   307,627 0 0
EAGLE BANCORP INC MD COM 268948106 3,886 85,400 SH   SOLE   85,400 0 0
EAST WEST BANCORP INC COM 27579R104 1,280 33,309 SH   SOLE   33,309 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,895 75,300 SH   SOLE   75,300 0 0
FIFTH THIRD BANCORP COM 316773100 9,597 507,500 SH   SOLE   507,500 0 0
FIRST BANCORP P R COM NEW 318672706 6,456 1,813,418 SH   SOLE   1,813,418 0 0
FIRST BANCSHARES INC MS COM 318916103 3,460 198,041 SH   SOLE   198,041 0 0
FIRST FINL BANCORP OH COM 320209109 2,343 122,786 SH   SOLE   122,786 0 0
FIRST FNDTN INC COM 32026V104 4,581 201,200 SH   SOLE   201,200 0 0
FIRSTMERIT CORP COM 337915102 7,359 416,490 SH   SOLE   416,490 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 4,322 248,968 SH   SOLE   248,968 0 0
GREAT WESTN BANCORP INC COM 391416104 5,198 204,900 SH   SOLE   204,900 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 5,054 306,874 SH   SOLE   306,874 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 2,385 162,600 SH   SOLE   162,600 0 0
HANMI FINL CORP COM NEW 410495204 6,487 257,403 SH   SOLE   257,403 0 0
HERITAGE FINL CORP WASH COM 42722X106 5,510 292,756 SH   SOLE   292,756 0 0
HERITAGE OAKS BANCORP COM 42724R107 3,702 465,080 SH   SOLE   465,080 0 0
HOWARD BANCORP INC COM 442496105 5,579 392,904 SH   SOLE   392,904 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 7,220 489,137 SH   SOLE   489,137 0 0
JPMORGAN CHASE & CO COM 46625H100 3,902 64,000 SH   SOLE   64,000 0 0
KINGSTONE COS INC COM 496719105 1,858 215,000 SH   SOLE   215,000 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 6,827 138,700 SH   SOLE   138,700 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 729 35,800 SH   SOLE   35,800 0 0
MBT FINL CORP COM 578877102 4,038 647,148 SH   SOLE   647,148 0 0
MERIDIAN BANCORP INC MD COM 58958U103 5,110 373,824 SH   SOLE   373,824 0 0
OLD LINE BANCSHARES INC COM 67984M100 2,668 164,090 SH   SOLE   164,090 0 0
OLD POINT FINL CORP COM 680194107 2,326 148,057 SH   SOLE   148,057 0 0
OLD SECOND BANCORP INC ILL COM 680277100 3,162 507,500 SH   SOLE   507,500 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 1,130 167,852 SH   SOLE   167,852 0 0
PACIFIC PREMIER BANCORP COM 69478X105 4,658 229,222 SH   SOLE   229,222 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 9,743 460,248 SH   SOLE   460,248 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 13,634 431,471 SH   SOLE   431,471 0 0
QCR HOLDINGS INC COM 74727A104 5,194 237,500 SH   SOLE   237,500 0 0
REGIONS FINL CORP NEW COM 7591EP100 4,478 497,000 SH   SOLE   497,000 0 0
RENASANT CORP COM 75970E107 913 27,800 SH   SOLE   27,800 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 9,286 223,600 SH   SOLE   223,600 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 489 10,200 SH   SOLE   10,200 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,630 128,340 SH   SOLE   128,340 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 2,889 90,816 SH   SOLE   90,816 0 0
SYNOVUS FINL CORP COM NEW 87161C501 9,749 329,371 SH   SOLE   329,371 0 0
TFS FINL CORP COM 87240R107 32,782 1,900,378 SH   SOLE   1,900,378 0 0
UMPQUA HLDGS CORP COM 904214103 3,806 233,500 SH   SOLE   233,500 0 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 7,995 391,150 SH   SOLE   391,150 0 0
WELLS FARGO & CO NEW COM 949746101 4,164 81,100 SH   SOLE   81,100 0 0
WILSHIRE BANCORP INC COM 97186T108 4,655 442,900 SH   SOLE   442,900 0 0
WINTRUST FINL CORP COM 97650W108 1,113 20,822 SH   SOLE   20,822 0 0
YADKIN FINL CORP COM 984305102 11,356 528,431 SH   SOLE   528,431 0 0
YOUR CMNTY BANKSHARES INC COM 98779U106 2,652 91,300 SH   SOLE   91,300 0 0
ZIONS BANCORPORATION COM 989701107 4,831 175,400 SH   SOLE   175,400 0 0