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 4,876 101,170 SH   SOLE   101,170 0 0
BANC OF CALIFORNIA INC COM 05990K106 5,863 272,700 SH   SOLE   272,700 0 0
BANK AMER CORP COM 060505104 9,335 384,800 SH   SOLE   384,800 0 0
BANK OF THE OZARKS INC COM 063904106 12,477 266,199 SH   SOLE   266,199 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 2,231 149,100 SH   SOLE   149,100 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 5,080 144,528 SH   SOLE   144,528 0 0
BOFI HLDG INC COM 05566U108 16,096 678,602 SH   SOLE   678,602 0 0
CAROLINA FINL CORP NEW COM 143873107 6,898 213,430 SH   SOLE   213,430 0 0
CITIGROUP INC COM NEW 172967424 8,467 126,600 SH   SOLE   126,600 0 0
CITIZENS FINL GROUP INC COM 174610105 11,939 334,600 SH   SOLE   334,600 0 0
COMMUNITY BANKERS TR CORP COM 203612106 6,716 814,106 SH   SOLE   814,106 0 0
COMMUNITY WEST BANCSHARES COM 204157101 5,170 511,835 SH   SOLE   511,835 0 0
CU BANCORP CALIF COM 126534106 10,435 288,654 SH   SOLE   288,654 0 0
EAST WEST BANCORP INC COM 27579R104 2,074 35,409 SH   SOLE   35,409 0 0
FB FINL CORP COM 30257X104 6,333 175,000 SH   SOLE   175,000 0 0
FIFTH THIRD BANCORP COM 316773100 8,390 323,200 SH   SOLE   323,200 0 0
FIRST BANCORP N C COM 318910106 15,784 504,925 SH   SOLE   504,925 0 0
FIRST BANCORP P R COM NEW 318672706 16,180 2,794,518 SH   SOLE   2,794,518 0 0
FIRST BANCSHARES INC MS COM 318916103 12,607 456,793 SH   SOLE   456,793 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 5,810 498,700 SH   SOLE   498,700 0 0
FIRST FNDTN INC COM 32026V104 5,831 354,900 SH   SOLE   354,900 0 0
FIRST INTERNET BANCORP COM 320557101 14,042 500,600 SH   SOLE   500,600 0 0
FNB CORP PA COM 302520101 14,635 1,033,519 SH   SOLE   1,033,519 0 0
GREAT WESTN BANCORP INC COM 391416104 6,995 171,400 SH   SOLE   171,400 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 7,040 258,817 SH   SOLE   258,817 0 0
HANMI FINL CORP COM NEW 410495204 5,354 188,184 SH   SOLE   188,184 0 0
HERITAGE COMMERCE CORP COM 426927109 4,462 323,809 SH   SOLE   323,809 0 0
HERITAGE FINL CORP WASH COM 42722X106 12,152 458,556 SH   SOLE   458,556 0 0
HOWARD BANCORP INC COM 442496105 9,323 484,304 SH   SOLE   484,304 0 0
IBERIABANK CORP COM 450828108 10,986 134,800 SH   SOLE   134,800 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 2,791 128,300 SH   SOLE   128,300 0 0
INVESTAR HLDG CORP COM 46134L105 2,711 118,400 SH   SOLE   118,400 0 0
JPMORGAN CHASE & CO COM 46625H100 5,740 62,800 SH   SOLE   62,800 0 0
LAKELAND FINL CORP COM 511656100 220 4,800 SH   SOLE   4,800 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 7,229 189,600 SH   SOLE   189,600 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 11,546 131,100 SH   SOLE   131,100 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 2,001 59,700 SH   SOLE   59,700 0 0
MERIDIAN BANCORP INC MD COM 58958U103 6,198 366,724 SH   SOLE   366,724 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 3,585 71,125 SH   SOLE   71,125 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 10,394 310,077 SH   SOLE   310,077 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 5,073 149,700 SH   SOLE   149,700 0 0
OLD POINT FINL CORP COM 680194107 4,773 145,157 SH   SOLE   145,157 0 0
OLD SECOND BANCORP INC ILL COM 680277100 5,810 503,000 SH   SOLE   503,000 0 0
OP BANCORP CMN COM 67109R109 4,285 542,367 SH   SOLE   542,367 0 0
OPUS BK IRVINE CALIF COM 684000102 12,099 499,978 SH   SOLE   499,978 0 0
PACIFIC PREMIER BANCORP COM 69478X105 16,151 437,683 SH   SOLE   437,683 0 0
PACWEST BANCORP DEL COM 695263103 5,847 125,200 SH   SOLE   125,200 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,997 47,720 SH   SOLE   47,720 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 23,151 432,971 SH   SOLE   432,971 0 0
PROVIDENT BANCORP INC COM 74383X109 1,659 73,730 SH   SOLE   73,730 0 0
QCR HOLDINGS INC COM 74727A104 16,576 349,700 SH   SOLE   349,700 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,682 388,100 SH   SOLE   388,100 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 9,958 413,200 SH   SOLE   413,200 0 0
SMARTFINANCIAL INC COM NEW 83190L208 5,005 209,574 SH   SOLE   209,574 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 6,882 185,740 SH   SOLE   185,740 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 4,111 89,016 SH   SOLE   89,016 0 0
SUSSEX BANCORP COM 869245100 3,751 154,048 SH   SOLE   154,048 0 0
SVB FINL GROUP COM 78486Q101 17,702 100,700 SH   SOLE   100,700 0 0
SYNOVUS FINL CORP COM NEW 87161C501 8,329 188,271 SH   SOLE   188,271 0 0
TFS FINL CORP COM 87240R107 20,844 1,347,378 SH   SOLE   1,347,378 0 0
VERITEX HLDGS INC COM 923451108 5,474 207,900 SH   SOLE   207,900 0 0
WINTRUST FINL CORP COM 97650W108 12,830 167,840 SH   SOLE   167,840 0 0
ZIONS BANCORPORATION COM 989701107 17,539 399,434 SH   SOLE   399,434 0 0