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 8,720 350,488 SH   SOLE   350,488 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 13,538 936,262 SH   SOLE   936,262 0 0
ARCH CAP GROUP LTD ORD G0450A105 7,424 103,112 SH   SOLE   621 0 102,491
AFLAC INC COM 001055102 8,751 121,267 SH   SOLE   0 0 121,267
AMERICAN INTL GROUP INC COM NEW 026874784 28,226 533,667 SH   SOLE   0 0 533,667
ASSURANT INC COM 04621X108 30,658 355,210 SH   SOLE   23,004 0 332,206
GALLAGHER ARTHUR J & CO COM 363576109 50,994 1,071,305 SH   SOLE   0 0 1,071,305
ALLSTATE CORP COM 020002101 20,050 286,639 SH   SOLE   8,154 0 278,485
AFFILIATED MANAGERS GROUP COM 008252108 9,167 65,120 SH   SOLE   3,722 0 61,398
AMERIPRISE FINL INC COM 03076C106 4,462 49,655 SH   SOLE   0 0 49,655
AMERICAN RIVER BANKSHARES COM 029326105 1,055 102,740 SH   SOLE   102,740 0 0
AMERICAN TOWER CORP NEW COM 03027X100 8,981 79,047 SH   SOLE   0 0 79,047
TD AMERITRADE HLDG CORP COM 87236Y108 1,928 67,719 SH   SOLE   0 0 67,719
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 4,472 127,268 SH   SOLE   0 0 127,268
AMERICAN EXPRESS CO COM 025816109 28,667 471,807 SH   SOLE   0 0 471,807
BANK AMER CORP COM 060505104 38,399 2,893,685 SH   SOLE   0 0 2,893,685
BANNER CORP COM NEW 06652V208 9,071 213,244 SH   SOLE   96,837 0 116,407
BB&T CORP COM 054937107 11,723 329,192 SH   SOLE   0 0 329,192
BERKSHIRE HILLS BANCORP INC COM 084680107 7,585 281,767 SH   SOLE   119,413 0 162,354
BANK NEW YORK MELLON CORP COM 064058100 11,489 295,730 SH   SOLE   0 0 295,730
BLACKROCK INC COM 09247X101 6,851 20,002 SH   SOLE   0 0 20,002
BSB BANCORP INC MD COM 05573H108 5,225 230,689 SH   SOLE   230,689 0 0
BRYN MAWR BK CORP COM 117665109 1,405 48,102 SH   SOLE   48,102 0 0
BOSTON PRIVATE FINL HLDGS IN COM 101119105 5,224 443,493 SH   SOLE   0 0 443,493
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,678 32,308 SH   SOLE   0 0 32,308
BROWN & BROWN INC COM 115236101 5,702 152,183 SH   SOLE   0 0 152,183
CITIGROUP INC COM NEW 172967424 49,671 1,171,758 SH   SOLE   4,941 0 1,166,817
CAMDEN NATL CORP COM 133034108 12,406 295,387 SH   SOLE   295,387 0 0
CHUBB LIMITED COM H1467J104 6,304 48,226 SH   SOLE   0 0 48,226
CITIZENS FINL GROUP INC COM 174610105 30,200 1,511,497 SH   SOLE   304,364 0 1,207,133
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 3,921 241,600 SH   SOLE   0 0 241,600
CIT GROUP INC COM NEW 125581801 1,736 54,410 SH   SOLE   0 0 54,410
COMERICA INC COM 200340107 25,325 615,729 SH   SOLE   164,263 0 451,466
CME GROUP INC COM 12572Q105 21,293 218,613 SH   SOLE   7,430 0 211,183
CONNECTONE BANCORP INC NEW COM 20786W107 29,045 1,851,207 SH   SOLE   930,606 0 920,601
CAPITAL ONE FINL CORP COM 14040H105 10,339 162,794 SH   SOLE   0 0 162,794
CU BANCORP CALIF COM 126534106 4,474 196,817 SH   SOLE   196,817 0 0
DISCOVER FINL SVCS COM 254709108 6,323 117,983 SH   SOLE   0 0 117,983
EQUITY BANCSHARES INC COM CL A 29460X109 7,780 351,380 SH   SOLE   351,380 0 0
EMPIRE ST RLTY TR INC CL A 292104106 8,094 426,199 SH   SOLE   0 0 426,199
FIFTH THIRD BANCORP COM 316773100 29,686 1,687,680 SH   SOLE   56,377 0 1,631,303
FIRST MID ILL BANCSHARES INC COM 320866106 2,202 88,095 SH   SOLE   88,095 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 8,628 491,321 SH   SOLE   0 0 491,321
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 5,499 146,646 SH   SOLE   0 0 146,646
GUARANTY BANCORP DEL COM NEW 40075T607 1,856 111,146 SH   SOLE   111,146 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 17,293 116,390 SH   SOLE   0 0 116,390
HOWARD BANCORP INC COM 442496105 3,551 273,162 SH   SOLE   273,162 0 0
HERITAGE OAKS BANCORP COM 42724R107 3,128 394,006 SH   SOLE   394,006 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 19,340 435,788 SH   SOLE   15,512 0 420,276
HOULIHAN LOKEY INC CL A 441593100 529 23,652 SH   SOLE   23,652 0 0
HORACE MANN EDUCATORS CORP N COM 440327104 620 18,344 SH   SOLE   18,344 0 0
HUDSON PAC PPTYS INC COM 444097109 10,201 349,580 SH   SOLE   19,689 0 329,891
INDEPENDENT BANK CORP MICH COM NEW 453838609 7,825 539,287 SH   SOLE   539,287 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 32,346 126,371 SH   SOLE   5,213 0 121,158
INVESTAR HLDG CORP COM 46134L105 4,883 317,490 SH   SOLE   317,490 0 0
JPMORGAN CHASE & CO COM 46625H100 63,636 1,024,076 SH   SOLE   4,011 0 1,020,065
KEYCORP NEW COM 493267108 10,726 970,693 SH   SOLE   21,774 0 948,919
LAZARD LTD SHS A G54050102 5,906 198,337 SH   SOLE   15,744 0 182,593
LINCOLN NATL CORP IND COM 534187109 3,109 80,193 SH   SOLE   0 0 80,193
METLIFE INC COM 59156R108 8,052 202,170 SH   SOLE   0 0 202,170
MARSH & MCLENNAN COS INC COM 571748102 280 4,085 SH   SOLE   4,085 0 0
MORGAN STANLEY COM NEW 617446448 10,707 412,136 SH   SOLE   0 0 412,136
MIDLAND STS BANCORP INC ILL COM 597742105 9,537 439,717 SH   SOLE   439,717 0 0
M & T BK CORP COM 55261F104 3,959 33,489 SH   SOLE   0 0 33,489
MGIC INVT CORP WIS COM 552848103 19,450 3,268,947 SH   SOLE   224,004 0 3,044,943
NAVIENT CORP COM 63938C108 1,429 119,611 SH   SOLE   0 0 119,611
NATIONAL BK HLDGS CORP CL A 633707104 3,594 176,540 SH   SOLE   24,755 0 151,785
NORTHERN TR CORP COM 665859104 4,459 67,302 SH   SOLE   0 0 67,302
NEW YORK CMNTY BANCORP INC COM 649445103 24,414 1,628,717 SH   SOLE   636,974 0 991,743
SOUTHWEST BANCORP INC OKLA COM 844767103 26,247 1,550,296 SH   SOLE   951,395 0 598,901
OLD LINE BANCSHARES INC COM 67984M100 13,221 734,520 SH   SOLE   734,520 0 0
PARAGON COML CORP COM NEW 69911U403 2,891 82,600 SH   SOLE   82,600 0 0
PROGRESSIVE CORP OHIO COM 743315103 34,207 1,021,098 SH   SOLE   38,177 0 982,921
PACIFIC MERCANTILE BANCORP COM 694552100 14,568 2,051,835 SH   SOLE   2,051,835 0 0
PNC FINL SVCS GROUP INC COM 693475105 16,755 205,856 SH   SOLE   0 0 205,856
PRUDENTIAL FINL INC COM 744320102 7,279 102,030 SH   SOLE   0 0 102,030
QCR HOLDINGS INC COM 74727A104 14,720 541,390 SH   SOLE   541,390 0 0
RADIAN GROUP INC COM 750236101 15,523 1,489,769 SH   SOLE   87,773 0 1,401,996
REGIONS FINL CORP NEW COM 7591EP100 32,519 3,821,236 SH   SOLE   757,525 0 3,063,711
SAFETY INS GROUP INC COM 78648T100 279 4,530 SH   SOLE   4,530 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 7,193 57,579 SH   SOLE   3,325 0 54,254
SCHWAB CHARLES CORP NEW COM 808513105 22,112 873,636 SH   SOLE   30,695 0 842,941
STONEGATE BK FT LAUDERDALE F COM 861811107 6,371 197,431 SH   SOLE   197,431 0 0
SVB FINL GROUP COM 78486Q101 10,260 107,817 SH   SOLE   31,937 0 75,880
SL GREEN RLTY CORP COM 78440X101 6,416 60,263 SH   SOLE   0 0 60,263
SUN BANCORP INC COM NEW 86663B201 12,688 614,121 SH   SOLE   614,121 0 0
SUNTRUST BKS INC COM 867914103 27,967 680,795 SH   SOLE   94,133 0 586,662
STATE STR CORP COM 857477103 6,143 113,934 SH   SOLE   0 0 113,934
UNITED BANKSHARES INC WEST V COM 909907107 12,153 323,990 SH   SOLE   323,990 0 0
UMPQUA HLDGS CORP COM 904214103 12,778 825,956 SH   SOLE   43,812 0 782,144
US BANCORP DEL COM NEW 902973304 17,315 429,336 SH   SOLE   0 0 429,336
VERITEX HLDGS INC COM 923451108 3,730 232,840 SH   SOLE   232,840 0 0
VORNADO RLTY TR SH BEN INT 929042109 6,921 69,129 SH   SOLE   0 0 69,129
VOYA FINL INC COM 929089100 12,067 487,348 SH   SOLE   0 0 487,348
VALIDUS HOLDINGS LTD COM SHS G9319H102 2,491 51,265 SH   SOLE   0 0 51,265
WELLS FARGO & CO NEW COM 949746101 69,423 1,466,789 SH   SOLE   4,824 0 1,461,965
XL GROUP PLC SHS G98290102 17,734 532,384 SH   SOLE   0 0 532,384
ZIONS BANCORPORATION COM 989701107 38,133 1,517,445 SH   SOLE   451,888 0 1,065,557