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
1ST SOURCE CORP COM 336901103 2,246 50,300 SH   SOLE   50,300 0 0
AMERIS BANCORP COM 03076K108 3,365 77,170 SH   SOLE   77,170 0 0
ANCHOR BANCORP WA COM 032838104 5,552 204,100 SH   SOLE   204,100 0 0
BANCORP INC DEL COM 05969A105 3,146 400,261 SH   SOLE   400,261 0 0
BANK AMER CORP COM 060505104 8,588 388,600 SH   SOLE   388,600 0 0
BANK OF THE OZARKS INC COM 063904106 5,248 99,800 SH   SOLE   99,800 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 2,285 150,600 SH   SOLE   150,600 0 0
BNC BANCORP COM 05566T101 2,937 92,058 SH   SOLE   92,058 0 0
BOFI HLDG INC COM 05566U108 20,282 710,402 SH   SOLE   710,402 0 0
BRIDGE BANCORP INC COM 108035106 1,891 49,900 SH   SOLE   49,900 0 0
BSB BANCORP INC MD COM 05573H108 6,780 234,206 SH   SOLE   234,206 0 0
CAROLINA FINL CORP NEW COM 143873107 4,806 156,100 SH   SOLE   156,100 0 0
CENTRUE FINL CORP NEW COM NEW 15643B205 13,490 635,710 SH   SOLE   635,710 0 0
CITIGROUP INC COM NEW 172967424 7,601 127,900 SH   SOLE   127,900 0 0
CITIZENS FINL GROUP INC COM 174610105 15,634 438,800 SH   SOLE   438,800 0 0
COMMUNITY BANKERS TR CORP COM 203612106 5,962 822,306 SH   SOLE   822,306 0 0
COMMUNITY WEST BANCSHARES COM 204157101 4,777 517,035 SH   SOLE   517,035 0 0
CU BANCORP CALIF COM 126534106 11,186 312,454 SH   SOLE   312,454 0 0
EAST WEST BANCORP INC COM 27579R104 1,795 35,309 SH   SOLE   35,309 0 0
FIFTH THIRD BANCORP COM 316773100 8,803 326,400 SH   SOLE   326,400 0 0
FIRST BANCORP N C COM 318910106 14,390 530,225 SH   SOLE   530,225 0 0
FIRST BANCORP P R COM NEW 318672706 16,655 2,519,718 SH   SOLE   2,519,718 0 0
FIRST BANCSHARES INC MS COM 318916103 12,688 461,393 SH   SOLE   461,393 0 0
FIRST FNDTN INC COM 32026V104 5,107 179,200 SH   SOLE   179,200 0 0
FIRST INTERNET BANCORP COM 320557101 16,179 505,600 SH   SOLE   505,600 0 0
GREAT WESTN BANCORP INC COM 391416104 7,545 173,100 SH   SOLE   173,100 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 7,425 306,817 SH   SOLE   306,817 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 3,380 159,600 SH   SOLE   159,600 0 0
HANMI FINL CORP COM NEW 410495204 6,634 190,084 SH   SOLE   190,084 0 0
HERITAGE COMMERCE CORP COM 426927109 4,719 327,009 SH   SOLE   327,009 0 0
HERITAGE FINL CORP WASH COM 42722X106 11,926 463,156 SH   SOLE   463,156 0 0
HERITAGE OAKS BANCORP COM 42724R107 11,236 911,254 SH   SOLE   911,254 0 0
HOWARD BANCORP INC COM 442496105 5,878 389,304 SH   SOLE   389,304 0 0
IBERIABANK CORP COM 450828108 5,444 65,000 SH   SOLE   65,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 2,812 129,600 SH   SOLE   129,600 0 0
JPMORGAN CHASE & CO COM 46625H100 5,471 63,400 SH   SOLE   63,400 0 0
KINGSTONE COS INC COM 496719105 2,929 213,000 SH   SOLE   213,000 0 0
LAKELAND FINL CORP COM 511656100 275 5,800 SH   SOLE   5,800 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 10,518 132,300 SH   SOLE   132,300 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 2,040 59,300 SH   SOLE   59,300 0 0
MERIDIAN BANCORP INC MD COM 58958U103 7,001 370,424 SH   SOLE   370,424 0 0
OLD NATL BANCORP IND COM 680033107 6,699 369,068 SH   SOLE   369,068 0 0
OLD POINT FINL CORP COM 680194107 3,666 146,657 SH   SOLE   146,657 0 0
OLD SECOND BANCORP INC ILL COM 680277100 5,613 508,000 SH   SOLE   508,000 0 0
OPUS BK IRVINE CALIF COM 684000102 7,706 256,454 SH   SOLE   256,454 0 0
PACIFIC PREMIER BANCORP COM 69478X105 5,574 157,673 SH   SOLE   157,673 0 0
PACWEST BANCORP DEL COM 695263103 6,881 126,400 SH   SOLE   126,400 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 3,839 55,395 SH   SOLE   55,395 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 22,927 437,371 SH   SOLE   437,371 0 0
PROVIDENT BANCORP INC COM 74383X109 1,332 74,430 SH   SOLE   74,430 0 0
QCR HOLDINGS INC COM 74727A104 15,294 353,200 SH   SOLE   353,200 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,629 392,000 SH   SOLE   392,000 0 0
RENASANT CORP COM 75970E107 2,111 50,000 SH   SOLE   50,000 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 3,640 165,000 SH   SOLE   165,000 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 4,577 127,140 SH   SOLE   127,140 0 0
SOUTHSIDE BANCSHARES INC COM 84470P109 3,259 86,514 SH   SOLE   86,514 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 3,752 89,916 SH   SOLE   89,916 0 0
SUTHERLAND ASSET MGMT CORP M COM 86933G105 1,898 141,083 SH   SOLE   141,083 0 0
SVB FINL GROUP COM 78486Q101 17,458 101,700 SH   SOLE   101,700 0 0
SYNOVUS FINL CORP COM NEW 87161C501 7,558 183,971 SH   SOLE   183,971 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 3,912 49,900 SH   SOLE   49,900 0 0
TFS FINL CORP COM 87240R107 25,913 1,360,978 SH   SOLE   1,360,978 0 0
VERITEX HLDGS INC COM 923451108 5,609 210,000 SH   SOLE   210,000 0 0
WHEELER REAL ESTATE INVT TR PFD CNV SER D 963025606 1,293 55,000 SH   SOLE   55,000 0 0
WINTRUST FINL CORP COM 97650W108 12,304 169,540 SH   SOLE   169,540 0 0
YADKIN FINL CORP COM 984305102 16,557 483,262 SH   SOLE   483,262 0 0
ZIONS BANCORPORATION COM 989701107 16,283 378,334 SH   SOLE   378,334 0 0