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 12,609 477,800 SH   SOLE   477,800 0 0
ANCHOR BANCORP WA COM 032838104 5,569 247,403 SH   SOLE   247,403 0 0
ANCHOR BANCORP WIS INC DEL COM 03283P106 12,169 350,375 SH   SOLE   350,375 0 0
BANCORPSOUTH INC COM 059692103 239 10,300 SH   SOLE   10,300 0 0
BANK AMER CORP COM 060505104 7,944 516,200 SH   SOLE   516,200 0 0
BANK OF MARIN BANCORP COM 063425102 3,388 66,558 SH   SOLE   66,558 0 0
BENEFICIAL BANCORP INC COM 08171T102 2,816 249,400 SH   SOLE   249,400 0 0
BNC BANCORP COM 05566T101 5,872 324,400 SH   SOLE   324,400 0 0
BRIDGE BANCORP INC COM 108035106 2,629 101,800 SH   SOLE   101,800 0 0
BSB BANCORP INC MD COM 05573H108 4,654 235,306 SH   SOLE   235,306 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 1,462 63,630 SH   SOLE   63,630 0 0
CITIGROUP INC COM NEW 172967424 6,615 128,400 SH   SOLE   128,400 0 0
CITIZENS FINL GROUP INC COM 174610105 2,413 100,000 SH   SOLE   100,000 0 0
COMMERCE BANCSHARES INC COM 200525103 625 14,757 SH   SOLE   14,757 0 0
COMMUNITY BANKERS TR CORP COM 203612106 3,503 801,500 SH   SOLE   801,500 0 0
COMMUNITY BK SHS IND INC COM 203599105 2,500 90,900 SH   SOLE   90,900 0 0
COMMUNITY WEST BANCSHARES COM 204157101 3,155 480,235 SH   SOLE   480,235 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 5,369 275,899 SH   SOLE   275,899 0 0
CU BANCORP CALIF COM 126534106 6,967 306,227 SH   SOLE   306,227 0 0
EAGLE BANCORP INC MD COM 268948106 4,608 120,000 SH   SOLE   120,000 0 0
EAST WEST BANCORP INC COM 27579R104 1,275 31,509 SH   SOLE   31,509 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 2,206 106,800 SH   SOLE   106,800 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 2,697 159,782 SH   SOLE   159,782 0 0
FIFTH THIRD BANCORP COM 316773100 9,523 505,200 SH   SOLE   505,200 0 0
FIRST BANCORP P R COM NEW 318672706 8,817 1,422,018 SH   SOLE   1,422,018 0 0
FIRST BANCSHARES INC MS COM 318916103 3,205 197,141 SH   SOLE   197,141 0 0
FIRST FINL BANCORP OH COM 320209109 2,178 122,286 SH   SOLE   122,286 0 0
FIRST NBC BK HLDG CO COM 32115D106 547 16,600 SH   SOLE   16,600 0 0
FIRSTMERIT CORP COM 337915102 7,902 414,590 SH   SOLE   414,590 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 4,172 247,868 SH   SOLE   247,868 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 2,339 161,900 SH   SOLE   161,900 0 0
HANMI FINL CORP COM NEW 410495204 5,419 256,203 SH   SOLE   256,203 0 0
HERITAGE FINL CORP WASH COM 42722X106 4,955 291,456 SH   SOLE   291,456 0 0
HERITAGE OAKS BANCORP COM 42724R107 3,847 462,880 SH   SOLE   462,880 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 6,247 486,937 SH   SOLE   486,937 0 0
JPMORGAN CHASE & CO COM 46625H100 3,859 63,700 SH   SOLE   63,700 0 0
KINGSTONE COS INC COM 496719105 1,611 214,000 SH   SOLE   214,000 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 7,250 138,100 SH   SOLE   138,100 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 623 31,700 SH   SOLE   31,700 0 0
MBT FINL CORP COM 578877102 3,614 644,148 SH   SOLE   644,148 0 0
MERCANTILE BANK CORP COM 587376104 4,916 251,474 SH   SOLE   251,474 0 0
MERIDIAN BANCORP INC MD COM 58958U103 4,901 372,124 SH   SOLE   372,124 0 0
NATIONAL BK HLDGS CORP CL A 633707104 1,881 100,000 SH   SOLE   100,000 0 0
OLD POINT FINL CORP COM 680194107 2,211 147,357 SH   SOLE   147,357 0 0
OLD SECOND BANCORP INC ILL COM 680277100 2,945 514,900 SH   SOLE   514,900 0 0
PACIFIC PREMIER BANCORP COM 69478X105 3,373 208,343 SH   SOLE   208,343 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 10,071 466,248 SH   SOLE   466,248 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 12,506 455,248 SH   SOLE   455,248 0 0
REGIONS FINL CORP NEW COM 7591EP100 4,675 494,700 SH   SOLE   494,700 0 0
RENASANT CORP COM 75970E107 832 27,700 SH   SOLE   27,700 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 7,344 222,600 SH   SOLE   222,600 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 459 10,100 SH   SOLE   10,100 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,172 127,740 SH   SOLE   127,740 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 2,727 90,316 SH   SOLE   90,316 0 0
SYNOVUS FINL CORP COM NEW 87161C501 10,727 382,971 SH   SOLE   382,971 0 0
TFS FINL CORP COM 87240R107 28,507 1,941,878 SH   SOLE   1,941,878 0 0
UMPQUA HLDGS CORP COM 904214103 5,281 307,400 SH   SOLE   307,400 0 0
WELLS FARGO & CO NEW COM 949746101 6,028 110,800 SH   SOLE   110,800 0 0
WILSHIRE BANCORP INC COM 97186T108 4,395 440,800 SH   SOLE   440,800 0 0
WINTRUST FINL CORP COM 97650W108 988 20,722 SH   SOLE   20,722 0 0
YADKIN FINL CORP COM 984305102 10,678 526,031 SH   SOLE   526,031 0 0
ZIONS BANCORPORATION COM 989701107 4,714 174,600 SH   SOLE   174,600 0 0