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
ALLEGIANCE BANCSHARES INC COM 01748H107 9,998 255,381 SH   SOLE   255,381 0 0
AMERIS BANCORP COM 03076K108 5,278 99,770 SH   SOLE   99,770 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 5,825 321,800 SH   SOLE   321,800 0 0
BANC OF CALIFORNIA INC COM 05990K106 7,470 387,060 SH   SOLE   387,060 0 0
BANK AMER CORP COM 060505104 11,372 379,200 SH   SOLE   379,200 0 0
BANK OF THE OZARKS COM 063904106 12,666 262,399 SH   SOLE   262,399 0 0
BANNER CORP COM NEW 06652V208 5,712 102,942 SH   SOLE   102,942 0 0
BOFI HLDG INC COM 05566U108 18,279 451,002 SH   SOLE   451,002 0 0
BOK FINL CORP COM NEW 05561Q201 18,887 190,800 SH   SOLE   190,800 0 0
CAMBRIDGE BANCORP COM 132152109 7,086 81,171 SH   SOLE   81,171 0 0
CAROLINA FINL CORP NEW COM 143873107 7,935 202,009 SH   SOLE   202,009 0 0
CBTX INC COM 12481V104 3,154 107,131 SH   SOLE   107,131 0 0
CITIGROUP INC COM NEW 172967424 8,424 124,800 SH   SOLE   124,800 0 0
COMMUNITY BANKERS TR CORP COM 203612106 7,222 802,406 SH   SOLE   802,406 0 0
COMMUNITY WEST BANCSHARES COM 204157101 5,725 504,435 SH   SOLE   504,435 0 0
CONDOR HOSPITALITY TR INC COM NEW 20676Y403 1,568 156,823 SH   SOLE   156,823 0 0
EAST WEST BANCORP INC COM 27579R104 2,239 35,809 SH   SOLE   35,809 0 0
FB FINL CORP COM 30257X104 6,990 172,200 SH   SOLE   172,200 0 0
FIFTH THIRD BANCORP COM 316773100 6,302 198,500 SH   SOLE   198,500 0 0
FIRST BANCORP N C COM 318910106 11,960 335,479 SH   SOLE   335,479 0 0
FIRST BANCORP P R COM NEW 318672706 14,497 2,408,073 SH   SOLE   2,408,073 0 0
FIRST BANCSHARES INC MS COM 318916103 18,551 575,233 SH   SOLE   575,233 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 8,535 592,722 SH   SOLE   592,722 0 0
FIRST FNDTN INC COM 32026V104 6,485 349,800 SH   SOLE   349,800 0 0
FIRST HORIZON NATL CORP COM 320517105 1,883 100,000 SH   SOLE   100,000 0 0
FIRST INTERNET BANCORP COM 320557101 22,821 616,776 SH   SOLE   616,776 0 0
FNB CORP PA COM 302520101 12,366 919,419 SH   SOLE   919,419 0 0
GREAT WESTN BANCORP INC COM 391416104 6,802 168,900 SH   SOLE   168,900 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 6,532 230,417 SH   SOLE   230,417 0 0
HANMI FINL CORP COM NEW 410495204 7,519 244,505 SH   SOLE   244,505 0 0
HERITAGE COMMERCE CORP COM 426927109 5,259 319,109 SH   SOLE   319,109 0 0
HERITAGE FINL CORP WASH COM 42722X106 12,924 422,356 SH   SOLE   422,356 0 0
HOWARD BANCORP INC COM 442496105 10,862 548,567 SH   SOLE   548,567 0 0
IBERIABANK CORP COM 450828108 9,578 122,800 SH   SOLE   122,800 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 2,895 126,400 SH   SOLE   126,400 0 0
INDEPENDENT BK GROUP INC COM 45384B106 11,934 168,800 SH   SOLE   168,800 0 0
INVESTAR HLDG CORP COM 46134L105 9,254 357,990 SH   SOLE   357,990 0 0
JPMORGAN CHASE & CO COM 46625H100 6,807 61,900 SH   SOLE   61,900 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 12,251 286,100 SH   SOLE   286,100 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 2,573 63,300 SH   SOLE   63,300 0 0
MERIDIAN BANCORP INC MD COM 58958U103 7,283 361,424 SH   SOLE   361,424 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 3,433 69,925 SH   SOLE   69,925 0 0
OLD POINT FINL CORP COM 680194107 4,621 175,157 SH   SOLE   175,157 0 0
OLD SECOND BANCORP INC ILL COM 680277100 9,523 685,080 SH   SOLE   685,080 0 0
OP BANCORP COM 67109R109 10,011 804,084 SH   SOLE   804,084 0 0
OPUS BK IRVINE CALIF COM 684000102 15,867 566,678 SH   SOLE   566,678 0 0
PACIFIC PREMIER BANCORP COM 69478X105 15,951 396,783 SH   SOLE   396,783 0 0
PACWEST BANCORP DEL COM 695263103 16,618 335,514 SH   SOLE   335,514 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 23,483 365,772 SH   SOLE   365,772 0 0
PROVIDENT BANCORP INC COM 74383X109 1,928 72,630 SH   SOLE   72,630 0 0
QCR HOLDINGS INC COM 74727A104 15,455 344,600 SH   SOLE   344,600 0 0
REGIONS FINL CORP NEW COM 7591EP100 7,109 382,600 SH   SOLE   382,600 0 0
RELIANT BANCORP INC COM 75956B101 5,296 232,400 SH   SOLE   232,400 0 0
SANDY SPRING BANCORP INC COM 800363103 14,205 366,480 SH   SOLE   366,480 0 0
SB FINL GROUP INC COM 78408D105 2,465 133,233 SH   SOLE   133,233 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 4,817 181,967 SH   SOLE   181,967 0 0
SMARTFINANCIAL INC COM NEW 83190L208 5,607 237,989 SH   SOLE   237,989 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 5,799 366,125 SH   SOLE   366,125 0 0
SUSSEX BANCORP COM 869245100 4,616 151,848 SH   SOLE   151,848 0 0
SVB FINL GROUP COM 78486Q101 15,001 62,500 SH   SOLE   62,500 0 0
SYNOVUS FINL CORP COM NEW 87161C501 9,267 185,571 SH   SOLE   185,571 0 0
TFS FINL CORP COM 87240R107 19,508 1,327,978 SH   SOLE   1,327,978 0 0
VERITEX HLDGS INC COM 923451108 9,701 350,611 SH   SOLE   350,611 0 0
WELLS FARGO CO NEW COM 949746101 17,552 334,900 SH   SOLE   334,900 0 0
WINTRUST FINL CORP COM 97650W108 9,374 108,937 SH   SOLE   108,937 0 0
ZIONS BANCORPORATION COM 989701107 20,234 383,734 SH   SOLE   383,734 0 0