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
ANCHOR BANCORP WA COM 032838104 4,470 244,403 SH   SOLE   244,403 0 0
BANCORPSOUTH INC COM 059692103 262 10,300 SH   SOLE   10,300 0 0
BANK OF AMERICA CORPORATION COM 060505104 11,189 718,600 SH   SOLE   718,600 0 0
BANK OF MARIN BANCORP COM 063425102 2,897 66,758 SH   SOLE   66,758 0 0
BBCN BANCORP INC COM 073295107 2,784 167,804 SH   SOLE   167,804 0 0
BENEFICIAL MUTUAL BANCORP IN COM 08173R104 3,560 326,000 SH   SOLE   326,000 0 0
BNC BANCORP COM 05566T101 5,238 305,600 SH   SOLE   305,600 0 0
BRIDGE BANCORP INC COM 108035106 2,655 102,100 SH   SOLE   102,100 0 0
BSB BANCORP INC MD COM 05573H108 3,564 236,206 SH   SOLE   236,206 0 0
CAPITAL ONE FINL CORP COM 14040H105 7,906 103,200 SH   SOLE   103,200 0 0
CHARTER FINL CORP MD COM 16122W108 1,545 143,482 SH   SOLE   143,482 0 0
CHEMICAL FINL CORP COM 163731102 2,217 70,000 SH   SOLE   70,000 0 0
CHERRY HILL MTG INVT CORP COM 164651101 6,239 350,500 SH   SOLE   350,500 0 0
CITIGROUP INC COM NEW 172967424 6,717 128,900 SH   SOLE   128,900 0 0
COMMERCE BANCSHARES INC COM 200525103 632 14,070 SH   SOLE   14,070 0 0
COMMUNITY BANKERS TR CORP COM 203612106 3,025 804,500 SH   SOLE   804,500 0 0
COMMUNITY FINL CORP MD COM 20368X101 791 38,200 SH   SOLE   38,200 0 0
COMMUNITY WEST BANCSHARES COM 204157101 2,842 433,235 SH   SOLE   433,235 0 0
CU BANCORP CALIF COM 126534106 1,609 92,039 SH   SOLE   92,039 0 0
ELLINGTON FINANCIAL LLC COM 288522303 5,699 251,400 SH   SOLE   251,400 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 2,189 107,200 SH   SOLE   107,200 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 3,116 187,591 SH   SOLE   187,591 0 0
FIFTH THIRD BANCORP COM 316773100 8,420 400,400 SH   SOLE   400,400 0 0
FIRST BANCORP P R COM NEW 318672706 1,238 200,000 SH   SOLE   200,000 0 0
FIRST BANCSHARES INC MS COM 318916103 2,879 205,385 SH   SOLE   205,385 0 0
FIRST FINL BANCORP OH COM 320209109 2,673 153,386 SH   SOLE   153,386 0 0
FIRST INTERNET BANCORP COM 320557101 2,480 110,200 SH   SOLE   110,200 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 4,151 236,800 SH   SOLE   236,800 0 0
FIRST NBC BK HLDG CO COM 32115D106 3,936 121,861 SH   SOLE   121,861 0 0
FIRSTMERIT CORP COM 337915102 8,140 366,190 SH   SOLE   366,190 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 1,962 100,000 SH   SOLE   100,000 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 2,802 162,245 SH   SOLE   162,245 0 0
HANMI FINL CORP COM NEW 410495204 5,630 257,203 SH   SOLE   257,203 0 0
HERITAGE FINL CORP WASH COM 42722X106 3,650 213,474 SH   SOLE   213,474 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 5,866 488,837 SH   SOLE   488,837 0 0
JPMORGAN CHASE & CO COM 46625H100 3,737 63,900 SH   SOLE   63,900 0 0
KINGSTONE COS INC COM 496719105 2,908 400,000 SH   SOLE   400,000 0 0
M & T BK CORP *W EXP 12/23/18 55261F112 5,960 138,600 SH   SOLE   138,600 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 640 35,500 SH   SOLE   35,500 0 0
MERIDIAN INTERSTAT BANCORP COM 58964Q104 3,736 165,445 SH   SOLE   165,445 0 0
METROCORP BANCSHARES INC COM 591650106 1,013 67,200 SH   SOLE   67,200 0 0
OLD POINT FINL CORP COM 680194107 1,896 147,857 SH   SOLE   147,857 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 1,986 124,600 SH   SOLE   124,600 0 0
PACIFIC PREMIER BANCORP COM 69478X105 2,399 152,400 SH   SOLE   152,400 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 2,790 146,048 SH   SOLE   146,048 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 7,700 384,048 SH   SOLE   384,048 0 0
REGIONS FINL CORP NEW COM 7591EP100 4,911 496,600 SH   SOLE   496,600 0 0
RENASANT CORP COM 75970E107 875 27,800 SH   SOLE   27,800 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 375 10,100 SH   SOLE   10,100 0 0
SOUTHWEST BANCORP INC OKLA COM 844767103 3,608 226,652 SH   SOLE   226,652 0 0
SYNOVUS FINL CORP COM 87161C105 11,930 3,313,805 SH   SOLE   3,313,805 0 0
TFS FINL CORP COM 87240R107 16,456 1,358,325 SH   SOLE   1,358,325 0 0
TOWER FINANCIAL CORP COM 891769101 5,706 229,813 SH   SOLE   229,813 0 0
TWO HBRS INVT CORP COM 90187B101 5,027 541,655 SH   SOLE   541,655 0 0
WELLS FARGO & CO NEW COM 949746101 7,323 161,300 SH   SOLE   161,300 0 0
WILSHIRE BANCORP INC COM 97186T108 4,837 442,500 SH   SOLE   442,500 0 0
WINTRUST FINL CORP COM 97650W108 960 20,822 SH   SOLE   20,822 0 0
YADKIN FINL CORP COM 984305102 10,061 590,432 SH   SOLE   590,432 0 0