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 2,410 94,000 SH   SOLE   94,000 0 0
ANCHOR BANCORP WA COM 032838104 5,057 247,903 SH   SOLE   247,903 0 0
ANCHOR BANCORP WIS INC DEL COM 03283P106 12,084 350,875 SH   SOLE   350,875 0 0
BANCORPSOUTH INC COM 059692103 232 10,300 SH   SOLE   10,300 0 0
BANK AMER CORP COM 060505104 9,249 517,000 SH   SOLE   517,000 0 0
BANK OF MARIN BANCORP COM 063425102 3,506 66,658 SH   SOLE   66,658 0 0
BNC BANCORP COM 05566T101 5,247 304,900 SH   SOLE   304,900 0 0
BRIDGE BANCORP INC COM 108035106 2,726 101,900 SH   SOLE   101,900 0 0
BSB BANCORP INC MD COM 05573H108 4,391 235,706 SH   SOLE   235,706 0 0
CAPITAL ONE FINL CORP COM 14040H105 6,827 82,700 SH   SOLE   82,700 0 0
CHEMICAL FINL CORP COM 163731102 4,054 132,300 SH   SOLE   132,300 0 0
CITIGROUP INC COM NEW 172967424 6,964 128,700 SH   SOLE   128,700 0 0
COMMERCE BANCSHARES INC COM 200525103 642 14,757 SH   SOLE   14,757 0 0
COMMUNITY BANKERS TR CORP COM 203612106 3,548 802,800 SH   SOLE   802,800 0 0
COMMUNITY WEST BANCSHARES COM 204157101 3,156 481,035 SH   SOLE   481,035 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 5,252 276,399 SH   SOLE   276,399 0 0
CU BANCORP CALIF COM 126534106 2,083 96,039 SH   SOLE   96,039 0 0
EAST WEST BANCORP INC COM 27579R104 1,169 30,209 SH   SOLE   30,209 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 2,111 107,000 SH   SOLE   107,000 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 3,123 193,829 SH   SOLE   193,829 0 0
FIFTH THIRD BANCORP COM 316773100 10,310 506,000 SH   SOLE   506,000 0 0
FIRST BANCORP P R COM NEW 318672706 8,363 1,424,618 SH   SOLE   1,424,618 0 0
FIRST BANCSHARES INC MS COM 318916103 2,994 206,341 SH   SOLE   206,341 0 0
FIRST FINL BANCORP OH COM 320209109 2,277 122,486 SH   SOLE   122,486 0 0
FIRST NBC BK HLDG CO COM 32115D106 2,273 64,561 SH   SOLE   64,561 0 0
FIRSTMERIT CORP COM 337915102 6,902 365,390 SH   SOLE   365,390 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 4,089 245,268 SH   SOLE   245,268 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 2,135 162,100 SH   SOLE   162,100 0 0
HANMI FINL CORP COM NEW 410495204 5,597 256,603 SH   SOLE   256,603 0 0
HERITAGE FINL CORP WASH COM 42722X106 5,124 291,956 SH   SOLE   291,956 0 0
HERITAGE OAKS BANCORP COM 42724R107 3,890 463,680 SH   SOLE   463,680 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 6,365 487,737 SH   SOLE   487,737 0 0
JPMORGAN CHASE & CO COM 46625H100 3,993 63,800 SH   SOLE   63,800 0 0
KINGSTONE COS INC COM 496719105 1,747 214,400 SH   SOLE   214,400 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 7,146 138,300 SH   SOLE   138,300 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 674 32,200 SH   SOLE   32,200 0 0
MBT FINL CORP COM 578877102 3,220 645,248 SH   SOLE   645,248 0 0
MERCANTILE BANK CORP COM 587376104 5,294 251,874 SH   SOLE   251,874 0 0
MERIDIAN BANCORP INC MD COM 58958U103 4,182 372,724 SH   SOLE   372,724 0 0
OLD POINT FINL CORP COM 680194107 2,213 147,557 SH   SOLE   147,557 0 0
OLD SECOND BANCORP INC ILL COM 680277100 2,770 515,800 SH   SOLE   515,800 0 0
PACIFIC PREMIER BANCORP COM 69478X105 2,982 172,100 SH   SOLE   172,100 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 8,748 471,348 SH   SOLE   471,348 0 0
PEOPLES BANCORP INC COM 709789101 3,042 117,300 SH   SOLE   117,300 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 12,719 456,048 SH   SOLE   456,048 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,232 495,500 SH   SOLE   495,500 0 0
RENASANT CORP COM 75970E107 801 27,700 SH   SOLE   27,700 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 7,348 223,000 SH   SOLE   223,000 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 411 10,100 SH   SOLE   10,100 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 1,302 76,500 SH   SOLE   76,500 0 0
SOUTHWEST BANCORP INC OKLA COM 844767103 3,926 226,152 SH   SOLE   226,152 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 2,681 90,516 SH   SOLE   90,516 0 0
SVB FINL GROUP COM 78486Q101 2,600 22,400 SH   SOLE   22,400 0 0
SYNOVUS FINL CORP COM NEW 87161C501 10,394 383,671 SH   SOLE   383,671 0 0
TFS FINL CORP COM 87240R107 28,952 1,945,078 SH   SOLE   1,945,078 0 0
UMPQUA HLDGS CORP COM 904214103 5,237 307,900 SH   SOLE   307,900 0 0
WELLS FARGO & CO NEW COM 949746101 6,080 110,900 SH   SOLE   110,900 0 0
WILSHIRE BANCORP INC COM 97186T108 4,473 441,600 SH   SOLE   441,600 0 0
WINTRUST FINL CORP COM 97650W108 969 20,722 SH   SOLE   20,722 0 0
YADKIN FINL CORP COM 984305102 11,826 601,831 SH   SOLE   601,831 0 0