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 5,830 126,470 SH   SOLE   126,470 0 0
ANCHOR BANCORP WA COM 032838104 2,615 100,757 SH   SOLE   100,757 0 0
BANC OF CALIFORNIA INC COM 05990K106 4,107 198,400 SH   SOLE   198,400 0 0
BANCORP INC DEL COM 05969A105 1,276 250,261 SH   SOLE   250,261 0 0
BANK AMER CORP COM 060505104 9,094 385,500 SH   SOLE   385,500 0 0
BANK OF THE OZARKS INC COM 063904106 5,149 99,000 SH   SOLE   99,000 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 2,185 149,400 SH   SOLE   149,400 0 0
BNC BANCORP COM 05566T101 3,199 91,258 SH   SOLE   91,258 0 0
BOFI HLDG INC COM 05566U108 17,766 679,902 SH   SOLE   679,902 0 0
CAROLINA FINL CORP NEW COM 143873107 6,120 204,000 SH   SOLE   204,000 0 0
CENTRUE FINL CORP NEW COM NEW 15643B205 16,381 628,110 SH   SOLE   628,110 0 0
CITIGROUP INC COM NEW 172967424 7,585 126,800 SH   SOLE   126,800 0 0
CITIZENS FINL GROUP INC COM 174610105 11,585 335,300 SH   SOLE   335,300 0 0
COMMUNITY BANKERS TR CORP COM 203612106 6,526 815,706 SH   SOLE   815,706 0 0
COMMUNITY WEST BANCSHARES COM 204157101 5,231 512,835 SH   SOLE   512,835 0 0
CONDOR HOSPITALITY TR INC COM NEW 20676Y403 541 51,000 SH   SOLE   51,000 0 0
CU BANCORP CALIF COM 126534106 11,984 302,254 SH   SOLE   302,254 0 0
EAST WEST BANCORP INC COM 27579R104 1,802 34,909 SH   SOLE   34,909 0 0
FIFTH THIRD BANCORP COM 316773100 8,225 323,800 SH   SOLE   323,800 0 0
FIRST BANCORP N C COM 318910106 15,404 525,925 SH   SOLE   525,925 0 0
FIRST BANCORP P R COM NEW 318672706 15,820 2,800,018 SH   SOLE   2,800,018 0 0
FIRST BANCSHARES INC MS COM 318916103 13,044 457,693 SH   SOLE   457,693 0 0
FIRST FNDTN INC COM 32026V104 5,515 355,600 SH   SOLE   355,600 0 0
FIRST INTERNET BANCORP COM 320557101 14,797 501,600 SH   SOLE   501,600 0 0
FNB CORP PA COM 302520101 15,397 1,035,419 SH   SOLE   1,035,419 0 0
GREAT WESTN BANCORP INC COM 391416104 7,286 171,800 SH   SOLE   171,800 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 7,413 304,417 SH   SOLE   304,417 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 3,046 159,800 SH   SOLE   159,800 0 0
HANMI FINL CORP COM NEW 410495204 5,799 188,584 SH   SOLE   188,584 0 0
HERITAGE COMMERCE CORP COM 426927109 4,574 324,409 SH   SOLE   324,409 0 0
HERITAGE FINL CORP WASH COM 42722X106 11,372 459,456 SH   SOLE   459,456 0 0
HERITAGE OAKS BANCORP COM 42724R107 10,466 783,954 SH   SOLE   783,954 0 0
HOME BANCSHARES INC COM 436893200 2,707 100,000 SH   SOLE   100,000 0 0
HOWARD BANCORP INC COM 442496105 9,075 485,304 SH   SOLE   485,304 0 0
IBERIABANK CORP COM 450828108 9,888 125,000 SH   SOLE   125,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 2,660 128,500 SH   SOLE   128,500 0 0
INVESTAR HLDG CORP COM 46134L105 2,190 100,000 SH   SOLE   100,000 0 0
JPMORGAN CHASE & CO COM 46625H100 5,525 62,900 SH   SOLE   62,900 0 0
LAKELAND FINL CORP COM 511656100 207 4,800 SH   SOLE   4,800 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 10,604 131,400 SH   SOLE   131,400 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 2,084 63,300 SH   SOLE   63,300 0 0
MERIDIAN BANCORP INC MD COM 58958U103 6,724 367,424 SH   SOLE   367,424 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 5,144 150,000 SH   SOLE   150,000 0 0
OLD POINT FINL CORP COM 680194107 4,386 145,457 SH   SOLE   145,457 0 0
OLD SECOND BANCORP INC ILL COM 680277100 5,670 504,000 SH   SOLE   504,000 0 0
OPUS BK IRVINE CALIF COM 684000102 9,593 476,078 SH   SOLE   476,078 0 0
PACIFIC PREMIER BANCORP COM 69478X105 6,032 156,473 SH   SOLE   156,473 0 0
PACWEST BANCORP DEL COM 695263103 6,679 125,400 SH   SOLE   125,400 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 23,282 433,871 SH   SOLE   433,871 0 0
PROVIDENT BANCORP INC COM 74383X109 1,547 73,830 SH   SOLE   73,830 0 0
QCR HOLDINGS INC COM 74727A104 14,839 350,400 SH   SOLE   350,400 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,651 388,900 SH   SOLE   388,900 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 9,928 414,000 SH   SOLE   414,000 0 0
SMARTFINANCIAL INC COM NEW 83190L208 4,174 198,400 SH   SOLE   198,400 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 4,118 126,140 SH   SOLE   126,140 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 4,201 89,216 SH   SOLE   89,216 0 0
SUTHERLAND ASSET MGMT CORP M COM 86933G105 2,023 139,983 SH   SOLE   139,983 0 0
SVB FINL GROUP COM 78486Q101 18,776 100,900 SH   SOLE   100,900 0 0
SYNOVUS FINL CORP COM NEW 87161C501 7,489 182,571 SH   SOLE   182,571 0 0
TFS FINL CORP COM 87240R107 22,438 1,350,078 SH   SOLE   1,350,078 0 0
VERITEX HLDGS INC COM 923451108 5,857 208,300 SH   SOLE   208,300 0 0
WINTRUST FINL CORP COM 97650W108 11,622 168,140 SH   SOLE   168,140 0 0
ZIONS BANCORPORATION COM 989701107 15,764 375,334 SH   SOLE   375,334 0 0