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 4,094 200,000 SH   SOLE   200,000 0 0
ANCHOR BANCORP WA COM 032838104 4,160 244,703 SH   SOLE   244,703 0 0
BANCORPSOUTH INC COM 059692103 240 10,200 SH   SOLE   10,200 0 0
BANK OF AMERICA CORPORATION COM 060505104 11,857 707,900 SH   SOLE   707,900 0 0
BANK OF MARIN BANCORP COM 063425102 2,908 65,758 SH   SOLE   65,758 0 0
BANNER CORP COM NEW 06652V208 1,842 50,000 SH   SOLE   50,000 0 0
BBCN BANCORP INC COM 073295107 2,488 165,304 SH   SOLE   165,304 0 0
BENEFICIAL MUTUAL BANCORP IN COM 08173R104 3,816 321,200 SH   SOLE   321,200 0 0
BNC BANCORP COM 05566T101 5,110 301,100 SH   SOLE   301,100 0 0
BRIDGE BANCORP INC COM 108035106 2,475 100,600 SH   SOLE   100,600 0 0
BSB BANCORP INC MD COM 05573H108 3,630 232,706 SH   SOLE   232,706 0 0
CAPITAL ONE FINL CORP COM 14040H105 7,181 101,700 SH   SOLE   101,700 0 0
CHEMICAL FINL CORP COM 163731102 1,993 69,000 SH   SOLE   69,000 0 0
CHERRY HILL MTG INVT CORP COM 164651101 6,233 345,300 SH   SOLE   345,300 0 0
CITIGROUP INC COM NEW 172967424 10,767 227,000 SH   SOLE   227,000 0 0
COMMERCE BANCSHARES INC COM 200525103 603 13,870 SH   SOLE   13,870 0 0
COMMUNITY BANKERS TR CORP COM 203612106 3,155 792,600 SH   SOLE   792,600 0 0
COMMUNITY WEST BANCSHARES COM 204157101 3,333 464,835 SH   SOLE   464,835 0 0
CU BANCORP CALIF COM 126534106 1,564 90,639 SH   SOLE   90,639 0 0
EAST WEST BANCORP INC COM 27579R104 666 19,909 SH   SOLE   19,909 0 0
ELLINGTON FINANCIAL LLC COM 288522303 5,861 247,600 SH   SOLE   247,600 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,966 105,600 SH   SOLE   105,600 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 2,602 184,791 SH   SOLE   184,791 0 0
FIFTH THIRD BANCORP CMN COM 316773100 8,292 394,500 SH   SOLE   394,500 0 0
FIRST BANCORP P R COM NEW 318672706 1,932 395,000 SH   SOLE   395,000 0 0
FIRST BANCSHARES INC MS COM 318916103 2,881 202,285 SH   SOLE   202,285 0 0
FIRST FINL BANCORP OH COM 320209109 2,505 151,086 SH   SOLE   151,086 0 0
FIRST INTERNET BANCORP COM 320557101 2,320 108,600 SH   SOLE   108,600 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 3,726 233,300 SH   SOLE   233,300 0 0
FIRST NBC BK HLDG CO COM 32115D106 4,566 140,061 SH   SOLE   140,061 0 0
FIRSTMERIT CORP COM 337915102 7,340 360,690 SH   SOLE   360,690 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 3,681 215,145 SH   SOLE   215,145 0 0
HANMI FINL CORP COM NEW 410495204 5,466 253,403 SH   SOLE   253,403 0 0
HERITAGE FINL CORP WASH COM 42722X106 3,904 229,246 SH   SOLE   229,246 0 0
HERITAGE OAKS BANCORP COM 42724R107 941 122,812 SH   SOLE   122,812 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 6,380 481,537 SH   SOLE   481,537 0 0
JPMORGAN CHASE & CO COM 46625H100 3,488 63,000 SH   SOLE   63,000 0 0
KINGSTONE COS INC COM 496719105 2,771 394,100 SH   SOLE   394,100 0 0
M & T BK CORP *W EXP 12/23/2018 55261F112 5,355 136,600 SH   SOLE   136,600 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 558 34,200 SH   SOLE   34,200 0 0
MERIDIAN INTERSTAT BANCORP I COM 58964Q104 3,836 162,945 SH   SOLE   162,945 0 0
OLD POINT FINL CORP COM 680194107 2,007 145,757 SH   SOLE   145,757 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 1,730 122,700 SH   SOLE   122,700 0 0
PACIFIC PREMIER BANCORP COM 69478X105 2,384 150,200 SH   SOLE   150,200 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 3,331 180,048 SH   SOLE   180,048 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 8,146 378,348 SH   SOLE   378,348 0 0
REGIONS FINL CORP NEW COM 7591EP100 4,975 489,200 SH   SOLE   489,200 0 0
RENASANT CORP COM 75970E107 789 27,400 SH   SOLE   27,400 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 345 10,000 SH   SOLE   10,000 0 0
SOUTHWEST BANCORP INC OKLA COM 844767103 3,896 223,252 SH   SOLE   223,252 0 0
SYNOVUS FINL CORP COM 87161C105 10,100 3,014,805 SH   SOLE   3,014,805 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1,784 30,000 SH   SOLE   30,000 0 0
TFS FINL CORP COM 87240R107 19,465 1,695,585 SH   SOLE   1,695,585 0 0
TOWER FINANCIAL CORP COM 891769101 5,282 226,413 SH   SOLE   226,413 0 0
TWO HBRS INVT CORP COM 90187B101 5,245 533,555 SH   SOLE   533,555 0 0
WELLS FARGO & CO NEW COM 949746101 7,205 158,900 SH   SOLE   158,900 0 0
WILSHIRE BANCORP INC COM 97186T108 4,343 436,000 SH   SOLE   436,000 0 0
WINTRUST FINL CORP COM 97650W108 899 20,522 SH   SOLE   20,522 0 0
YADKIN FINL CORP COM 984305102 11,041 590,432 SH   SOLE   590,432 0 0