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 9,810 387,900 SH   SOLE   387,900 0 0
ANCHOR BANCORP WA COM 032838104 5,551 246,803 SH   SOLE   246,803 0 0
ANCHOR BANCORP WIS INC DEL COM 03283P106 13,269 349,375 SH   SOLE   349,375 0 0
BANCORPSOUTH INC COM 059692103 265 10,300 SH   SOLE   10,300 0 0
BANK AMER CORP COM 060505104 8,762 514,800 SH   SOLE   514,800 0 0
BANK OF MARIN BANCORP COM 063425102 5,001 98,318 SH   SOLE   98,318 0 0
BNC BANCORP COM 05566T101 6,253 323,500 SH   SOLE   323,500 0 0
BRIDGE BANCORP INC COM 108035106 2,739 102,627 SH   SOLE   102,627 0 0
BSB BANCORP INC MD COM 05573H108 5,187 234,606 SH   SOLE   234,606 0 0
CITIGROUP INC COM NEW 172967424 7,076 128,100 SH   SOLE   128,100 0 0
COMMERCE BANCSHARES INC COM 200525103 686 14,657 SH   SOLE   14,657 0 0
COMMUNITY BANKERS TR CORP COM 203612106 3,972 799,200 SH   SOLE   799,200 0 0
COMMUNITY BK SHS IND INC COM 203599105 2,480 90,600 SH   SOLE   90,600 0 0
COMMUNITY WEST BANCSHARES COM 204157101 3,160 478,835 SH   SOLE   478,835 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 5,830 270,799 SH   SOLE   270,799 0 0
CU BANCORP CALIF COM 126534106 6,768 305,427 SH   SOLE   305,427 0 0
EAGLE BANCORP INC MD COM 268948106 5,011 114,000 SH   SOLE   114,000 0 0
EAST WEST BANCORP INC COM 27579R104 1,466 32,709 SH   SOLE   32,709 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 2,425 106,500 SH   SOLE   106,500 0 0
FIFTH THIRD BANCORP COM 316773100 10,489 503,800 SH   SOLE   503,800 0 0
FIRST BANCORP P R COM NEW 318672706 8,195 1,700,118 SH   SOLE   1,700,118 0 0
FIRST BANCSHARES INC MS COM 318916103 3,272 196,541 SH   SOLE   196,541 0 0
FIRST FINL BANCORP OH COM 320209109 2,187 121,886 SH   SOLE   121,886 0 0
FIRSTMERIT CORP COM 337915102 8,613 413,490 SH   SOLE   413,490 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 4,182 247,168 SH   SOLE   247,168 0 0
GREAT WESTN BANCORP INC COM 391416104 3,629 150,500 SH   SOLE   150,500 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 5,003 303,002 SH   SOLE   303,002 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 2,376 161,400 SH   SOLE   161,400 0 0
HANMI FINL CORP COM NEW 410495204 6,347 255,503 SH   SOLE   255,503 0 0
HERITAGE COMMERCE CORP COM 426927109 2,413 251,100 SH   SOLE   251,100 0 0
HERITAGE FINL CORP WASH COM 42722X106 5,194 290,656 SH   SOLE   290,656 0 0
HERITAGE OAKS BANCORP COM 42724R107 3,633 461,580 SH   SOLE   461,580 0 0
HOWARD BANCORP INC COM 442496105 5,474 391,304 SH   SOLE   391,304 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 6,584 485,537 SH   SOLE   485,537 0 0
JPMORGAN CHASE & CO COM 46625H100 4,303 63,500 SH   SOLE   63,500 0 0
KINGSTONE COS INC COM 496719105 1,622 213,400 SH   SOLE   213,400 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 7,167 137,700 SH   SOLE   137,700 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 727 33,100 SH   SOLE   33,100 0 0
MBT FINL CORP COM 578877102 3,687 642,348 SH   SOLE   642,348 0 0
MERCANTILE BANK CORP COM 587376104 5,369 250,774 SH   SOLE   250,774 0 0
MERIDIAN BANCORP INC MD COM 58958U103 4,975 371,024 SH   SOLE   371,024 0 0
OLD LINE BANCSHARES INC COM 67984M100 1,597 100,490 SH   SOLE   100,490 0 0
OLD POINT FINL CORP COM 680194107 2,297 146,957 SH   SOLE   146,957 0 0
OLD SECOND BANCORP INC ILL COM 680277100 3,325 503,800 SH   SOLE   503,800 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 10,151 456,848 SH   SOLE   456,848 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 12,870 428,271 SH   SOLE   428,271 0 0
QCR HOLDINGS INC COM 74727A104 5,129 235,700 SH   SOLE   235,700 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,111 493,300 SH   SOLE   493,300 0 0
RENASANT CORP COM 75970E107 900 27,600 SH   SOLE   27,600 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 8,341 222,000 SH   SOLE   222,000 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 471 10,100 SH   SOLE   10,100 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,279 127,340 SH   SOLE   127,340 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 2,674 90,116 SH   SOLE   90,116 0 0
SYNOVUS FINL CORP COM NEW 87161C501 10,848 351,971 SH   SOLE   351,971 0 0
TFS FINL CORP COM 87240R107 32,572 1,936,478 SH   SOLE   1,936,478 0 0
UMPQUA HLDGS CORP COM 904214103 5,516 306,600 SH   SOLE   306,600 0 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 10,175 487,550 SH   SOLE   487,550 0 0
WELLS FARGO & CO NEW COM 949746101 6,209 110,400 SH   SOLE   110,400 0 0
WILSHIRE BANCORP INC COM 97186T108 5,552 439,600 SH   SOLE   439,600 0 0
WINTRUST FINL CORP COM 97650W108 1,106 20,722 SH   SOLE   20,722 0 0
YADKIN FINL CORP COM 984305102 10,989 524,531 SH   SOLE   524,531 0 0
ZIONS BANCORPORATION COM 989701107 5,525 174,100 SH   SOLE   174,100 0 0