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
1ST CENTURY BANCSHARES INC COM 31943X102 7,002 1,000,300 SH   SOLE   1,000,300 0 0
ACCESS NATL CORP COM 004337101 920 47,300 SH   SOLE   47,300 0 0
AERCAP HOLDINGS NV SHS N00985106 19,232 420,000 SH   SOLE   420,000 0 0
AJS BANCORP INC. COM 001503101 2,120 140,400 SH   SOLE   140,400 0 0
ALLIANCE BANCORP INC PA NEW COM 01890A108 4,291 188,300 SH   SOLE   188,300 0 0
AMBAC FINL GROUP INC *W EXP 04/30/202 023139116 304 40,000 SH   SOLE   40,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 13,575 846,300 SH   SOLE   846,300 0 0
AMERICAN RIVER BANKSHARES COM 029326105 6,628 711,200 SH   SOLE   711,200 0 0
AMERIS BANCORP COM 03076K108 19,944 788,600 SH   SOLE   788,600 0 0
ASTORIA FINL CORP COM 046265104 7,653 555,000 SH   SOLE   555,000 0 0
AVIDBANK HOLDINGS INC. COM 05368J103 1,558 125,161 SH   SOLE   125,161 0 0
BANCFIRST CORP COM 05945F103 7,487 114,400 SH   SOLE   114,400 0 0
BANK AMER CORP COM 060505104 5,320 312,600 SH   SOLE   312,600 0 0
BANK COMM HLDGS COM 06424J103 1,031 180,000 SH   SOLE   180,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 3,987 95,000 SH   SOLE   95,000 0 0
BANK OF THE CAROLINAS CORP COM 06425J102 2,615 18,946,551 SH   SOLE   18,946,551 0 0
BANKUNITED INC COM 06652K103 129 3,600 SH   SOLE   3,600 0 0
BAY BANKS OF VIRGINIA INC. COM 072035108 2,781 475,400 SH   SOLE   475,400 0 0
BAYLAKE CORP COM 072788102 336 26,600 SH   SOLE   26,600 0 0
BBCN BANCORP INC COM 073295107 444 30,000 SH   SOLE   30,000 0 0
BLACK KNIGHT FINL SVCS INC CL A 09214X100 2,007 65,000 SH   SOLE   65,000 0 0
BLACKROCK INC COM 09247X101 1,730 5,000 SH   SOLE   5,000 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 5,147 185,000 SH   SOLE   185,000 0 0
BOK FINL CORP COM NEW 05561Q201 4,175 60,000 SH   SOLE   60,000 0 0
BOSTON PRIVATE FINL HLDGS IN COM 101119105 10,929 815,000 SH   SOLE   815,000 0 0
BRIDGE BANCORP INC COM 108035106 5,071 190,000 SH   SOLE   190,000 0 0
C1 FINL INC COM 12591N109 13,537 698,500 SH   SOLE   698,500 0 0
CARDINAL FINL CORP COM 14149F109 787 36,100 SH   SOLE   36,100 0 0
CENTERSTATE BANKS INC COM 15201P109 6,687 495,000 SH   SOLE   495,000 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 11,413 280,700 SH   SOLE   280,700 0 0
CHICOPEE BANCORP INC COM 168565109 2,960 179,400 SH   SOLE   179,400 0 0
CITIGROUP INC COM NEW 172967424 21,267 385,000 SH   SOLE   385,000 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 907 99,057 SH   SOLE   99,057 0 0
CIVISTA BANCSHARES INC 6.50% PFD SER B 178867206 2,347 67,300 SH   SOLE   67,300 0 0
CNB FINL CORP PA COM 126128107 3,220 175,000 SH   SOLE   175,000 0 0
COASTWAY BANCORP INC COM 190632109 5,477 486,000 SH   SOLE   486,000 0 0
COBIZ FINANCIAL INC COM 190897108 7,158 547,700 SH   SOLE   547,700 0 0
COMERICA INC COM 200340107 7,441 145,000 SH   SOLE   145,000 0 0
COMMUNITY BANKERS TR CORP COM 203612106 497 100,000 SH   SOLE   100,000 0 0
COMMUNITY WEST BANCSHARES COM 204157101 1,485 225,000 SH   SOLE   225,000 0 0
COUNTY BANCORP INC COM 221907108 1,794 94,400 SH   SOLE   94,400 0 0
DCB FINANCIAL CORP. COM 233075100 1,557 214,725 SH   SOLE   214,725 0 0
DIME CMNTY BANCSHARES COM 253922108 8,136 480,300 SH   SOLE   480,300 0 0
DISCOVER FINL SVCS COM 254709108 9,052 157,100 SH   SOLE   157,100 0 0
DNB FINL CORP COM 233237106 1,623 62,819 SH   SOLE   62,819 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 11,082 370,000 SH   SOLE   370,000 0 0
EAGLE BANCORP INC WARRANT 2699929B1 14,411 385,434 SH   SOLE   385,434 0 0
EAGLE BANCORP INC MD COM 268948106 8,234 187,300 SH   SOLE   187,300 0 0
ESSA BANCORP INC COM 29667D104 3,372 262,200 SH   SOLE   262,200 0 0
EUREKA FINANCIAL CORPORATION COM 29855C108 1,203 55,933 SH   SOLE   55,933 0 0
EVANS BANCORP INC COM NEW 29911Q208 7,069 291,500 SH   SOLE   291,500 0 0
EVERBANK FINL CORP COM 29977G102 908 46,200 SH   SOLE   46,200 0 0
EVERTEC INC COM 30040P103 2,336 110,000 SH   SOLE   110,000 0 0
FAIRMOUNT BANCORP INC. COM 305468100 1,063 36,856 SH   SOLE   36,856 0 0
FCB FINL HLDGS INC CL A 30255G103 6,478 203,700 SH   SOLE   203,700 0 0
FIDELITY NATIONAL FINANCIAL FNFV GROUP COM 31620R402 6,921 450,000 SH   SOLE   450,000 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 6,592 178,200 SH   SOLE   178,200 0 0
FIRST AMERICAN INTERNATIONAL CORP COM 31849X107 2,708 169,800 SH   SOLE   169,800 0 0
FIRST BANCORP N C COM 318910106 158 9,500 SH   SOLE   9,500 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 1,875 40,000 SH   SOLE   40,000 0 0
FIRST BUSEY CORP COM 319383105 1,259 191,700 SH   SOLE   191,700 0 0
FIRST CAPITAL BANCORP VA COM 319438107 219 51,100 SH   SOLE   51,100 0 0
FIRST CMNTY CORP S C COM 319835104 5,196 440,000 SH   SOLE   440,000 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103 3,814 14,500 SH   SOLE   14,500 0 0
FIRST FINL BANCORP OH *W EXP 12/23/201 320209117 98 16,399 SH   SOLE   16,399 0 0
FIRST FINL BANCORP OH COM 320209109 7,535 420,000 SH   SOLE   420,000 0 0
FIRST HORIZON NATL CORP COM 320517105 1,567 100,000 SH   SOLE   100,000 0 0
FIRST INTERCONTINENTAL BANK COM 32056Y101 853 118,413 SH   SOLE   118,413 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 9,787 515,900 SH   SOLE   515,900 0 0
FIRST NBC BK HLDG CO COM 32115D106 9,360 260,000 SH   SOLE   260,000 0 0
FIRST SEC GROUP INC COM NEW 336312202 3,869 1,579,300 SH   SOLE   1,579,300 0 0
FIRST SOUTH BANCORP INC VA COM 33646W100 711 90,000 SH   SOLE   90,000 0 0
FIRSTMERIT CORP COM 337915102 1,458 70,000 SH   SOLE   70,000 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 1,345 72,800 SH   SOLE   72,800 0 0
FLY LEASING LTD SPONSORED ADR 34407D109 6,280 400,000 SH   SOLE   400,000 0 0
FNB CORP PA COM 302520101 1,163 81,200 SH   SOLE   81,200 0 0
FNB CORPORATION WARRANT 302520945 4,047 367,916 SH   SOLE   367,916 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 7,848 463,821 SH   SOLE   463,821 0 0
FRANKLIN RES INC COM 354613101 2,118 43,200 SH   SOLE   43,200 0 0
FRATERNITY COMMUNITY BANKCORP INC. COM 35553P101 2,094 130,088 SH   SOLE   130,088 0 0
GEORGETOWN BANCORP INC MD COM 372591107 1,428 79,900 SH   SOLE   79,900 0 0
GERMAN AMERN BANCORP INC COM 373865104 1,634 55,500 SH   SOLE   55,500 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 13,538 820,000 SH   SOLE   820,000 0 0
HAMILTON BANCORP INC MD COM 407015106 4,269 310,000 SH   SOLE   310,000 0 0
HANMI FINL CORP COM NEW 410495204 4,471 180,000 SH   SOLE   180,000 0 0
HENNESSY ADVISORS INC COM 425885100 1,071 56,843 SH   SOLE   56,843 0 0
HERITAGE COMMERCE CORP COM 426927109 10,646 1,107,767 SH   SOLE   1,107,767 0 0
HERITAGE OAKS BANCORP COM 42724R107 3,682 467,800 SH   SOLE   467,800 0 0
HF FINL CORP COM 404172108 9,950 655,900 SH   SOLE   655,900 0 0
HIBERNIA BANCORP INC. COM 42866N104 230 10,000 SH   SOLE   10,000 0 0
HMN FINANCIAL INC. WARRANT 40424G975 2,061 277,778 SH   SOLE   277,778 0 0
HMN FINL INC COM 40424G108 824 69,858 SH   SOLE   69,858 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 1,313 65,000 SH   SOLE   65,000 0 0
HOMETRUST BANCSHARES INC COM 437872104 4,534 270,500 SH   SOLE   270,500 0 0
IF BANCORP INC COM 44951J105 4,147 250,900 SH   SOLE   250,900 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 20,457 1,508,600 SH   SOLE   1,508,600 0 0
INVESCO LTD SHS G491BT108 9,373 250,000 SH   SOLE   250,000 0 0
INVESTAR HLDG CORP COM 46134L105 3,563 234,400 SH   SOLE   234,400 0 0
ISTAR FINL INC COM 45031U101 3,179 238,700 SH   SOLE   238,700 0 0
JACKSONVILLE BANCORP INC FLA COM NEW 469249205 3,668 312,707 SH   SOLE   312,707 0 0
JACKSONVILLE BANCORP INC MD COM 46924R106 1,374 58,300 SH   SOLE   58,300 0 0
JPMORGAN CHASE & CO COM 46625H100 10,205 150,600 SH   SOLE   150,600 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 1,856 75,000 SH   SOLE   75,000 0 0
KEARNY FINL CORP MD COM 48716P108 242 21,700 SH   SOLE   21,700 0 0
KEYCORP NEW COM 493267108 5,257 350,000 SH   SOLE   350,000 0 0
LAPORTE BANCORP INC MD COM 516651106 3,301 243,600 SH   SOLE   243,600 0 0
LCNB CORP COM 50181P100 162 10,000 SH   SOLE   10,000 0 0
LEGG MASON INC COM 524901105 2,628 51,000 SH   SOLE   51,000 0 0
LENNAR CORP CL B 526057302 2,156 50,000 SH   SOLE   50,000 0 0
LOUISANA BANCORP INC NEW COM 54619P104 2,643 110,800 SH   SOLE   110,800 0 0
LPL FINL HLDGS INC COM 50212V100 2,325 50,000 SH Put SOLE   50,000 0 0
M & T BK CORP *W EXP 12/23/201 55261F112 6,247 121,300 SH   SOLE   121,300 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 6,146 280,000 SH   SOLE   280,000 0 0
MALVERN BANCORP INC COM 561409103 3,229 217,600 SH   SOLE   217,600 0 0
MB BANCORP INC. COM 55280E104 2,156 159,142 SH   SOLE   159,142 0 0
MEETINGHOUSE BANCORP INC. COM 58514H109 671 47,500 SH   SOLE   47,500 0 0
MELROSE BANCORP INC COM 585553100 2,613 185,700 SH   SOLE   185,700 0 0
METRO BANCORP INC PA COM 59161R101 5,408 206,900 SH   SOLE   206,900 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 5,415 164,500 SH   SOLE   164,500 0 0
MINDEN BANCORP INC COM 60255R106 328 14,900 SH   SOLE   14,900 0 0
MORGAN STANLEY COM NEW 617446448 9,891 255,000 SH   SOLE   255,000 0 0
NATIONAL BK HLDGS CORP CL A 633707104 9,790 470,000 SH   SOLE   470,000 0 0
NBT BANCORP INC COM 628778102 1,570 60,000 SH   SOLE   60,000 0 0
NEW JERSEY COMMUNITY BANK COM 64577U102 671 110,000 SH   SOLE   110,000 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 559 62,600 SH   SOLE   62,600 0 0
NMI HLDGS INC CL A 629209305 3,810 475,000 SH   SOLE   475,000 0 0
NORTHRIM BANCORP INC COM 666762109 3,217 125,500 SH   SOLE   125,500 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 1,908 120,000 SH   SOLE   120,000 0 0
NVR INC COM 62944T105 6,164 4,600 SH   SOLE   4,600 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 553 56,100 SH   SOLE   56,100 0 0
OLD LINE BANCSHARES INC COM 67984M100 1,112 70,000 SH   SOLE   70,000 0 0
OLD SECOND BANCORP INC ILL COM 680277100 7,464 1,130,900 SH   SOLE   1,130,900 0 0
PACIFIC PREMIER BANCORP COM 69478X105 1,696 100,000 SH   SOLE   100,000 0 0
PALMETTO BANCSHARES INC COM NEW 697062206 10,696 541,041 SH   SOLE   541,041 0 0
PATHFINDER BANCORP INC MD COM 70319R109 3,522 299,500 SH   SOLE   299,500 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 5,333 240,000 SH   SOLE   240,000 0 0
PEOPLES BANCORP N C INC COM 710577107 1,467 80,000 SH   SOLE   80,000 0 0
PEOPLES UTAH BANCORP COM 712706209 1,698 100,000 SH   SOLE   100,000 0 0
PILGRIM BANCSHARES INC. COM 72143J105 1,523 125,900 SH   SOLE   125,900 0 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 1,101 38,318 SH   SOLE   38,318 0 0
POAGE BANKSHARES INC COM 730206109 2,879 187,776 SH   SOLE   187,776 0 0
POLONIA BACORP INC MD COM 73158Q109 4,158 330,000 SH   SOLE   330,000 0 0
POPULAR INC COM NEW 733174700 2,693 93,300 SH   SOLE   93,300 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 6,163 205,100 SH   SOLE   205,100 0 0
PREMIER FINL BANCORP INC COM 74050M105 232 15,000 SH   SOLE   15,000 0 0
PROSPERITY BANCSHARES INC COM 743606105 1,444 25,000 SH   SOLE   25,000 0 0
PROVIDENT FINL HLDGS INC COM 743868101 1,152 68,800 SH   SOLE   68,800 0 0
PROVIDENT FINL SVCS INC COM 74386T105 3,798 200,000 SH   SOLE   200,000 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 7,046 485,900 SH   SOLE   485,900 0 0
QCR HOLDINGS INC COM 74727A104 4,729 217,327 SH   SOLE   217,327 0 0
QNB CORPORATION COM 74726N107 530 18,035 SH   SOLE   18,035 0 0
RENASANT CORP COM 75970E107 2,282 70,000 SH   SOLE   70,000 0 0
RIVERVIEW BANCORP INC COM 769397100 2,140 500,000 SH   SOLE   500,000 0 0
S & T BANCORP INC COM 783859101 1,062 35,900 SH   SOLE   35,900 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 11,771 745,000 SH   SOLE   745,000 0 0
SHORE BANCSHARES INC COM 825107105 6,134 650,510 SH   SOLE   650,510 0 0
SI FINL GROUP INC MD COM 78425V104 9,530 818,698 SH   SOLE   818,698 0 0
SIERRA BANCORP COM 82620P102 2,545 147,000 SH   SOLE   147,000 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 2,067 126,900 SH   SOLE   126,900 0 0
SILVERCREST ASSET MGMT GROUP CL A 828359109 2,461 175,000 SH   SOLE   175,000 0 0
SOUTH ST CORP COM 840441109 532 7,000 SH   SOLE   7,000 0 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 1,191 140,000 SH   SOLE   140,000 0 0
SOUTHERN MO BANCORP INC COM 843380106 4,762 252,624 SH   SOLE   252,624 0 0
SOUTHWEST BANCORP INC OKLA COM 844767103 5,283 283,900 SH   SOLE   283,900 0 0
STANDARD FINANCIAL CORP COM 853393106 5,902 280,500 SH   SOLE   280,500 0 0
STATE BK FINL CORP COM 856190103 15,841 730,000 SH   SOLE   730,000 0 0
STATE NATL COS INC COM 85711T305 1,245 115,000 SH   SOLE   115,000 0 0
STERLING BANCORP DEL COM 85917A100 1,103 75,000 SH   SOLE   75,000 0 0
STEWART INFORMATION SVCS COR COM 860372101 1,393 35,000 SH   SOLE   35,000 0 0
STIFEL FINL CORP COM 860630102 2,887 50,000 SH   SOLE   50,000 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 2,522 85,000 SH   SOLE   85,000 0 0
STONEGATE MTG CORP COM 86181Q300 3,273 325,000 SH   SOLE   325,000 0 0
SUFFOLK BANCORP COM 864739107 1,381 53,800 SH   SOLE   53,800 0 0
SUGAR CREEK FINANCIAL CORPORATION COM 86481Y102 353 33,781 SH   SOLE   33,781 0 0
SUN BANCORP INC COM NEW 86663B201 9,471 492,000 SH   SOLE   492,000 0 0
SUNNYSIDE BANCORP INC. COM 867475105 510 48,600 SH   SOLE   48,600 0 0
SUNSHINE FINANCIAL INC. COM 86782T109 1,174 65,400 SH   SOLE   65,400 0 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 1,642 156,353 SH   SOLE   156,353 0 0
SYNOVUS FINL CORP COM NEW 87161C501 3,822 124,000 SH   SOLE   124,000 0 0
TERRITORIAL BANCORP INC COM 88145X108 10,917 450,000 SH   SOLE   450,000 0 0
THE FIRST BANCORP INC. WARRANT 31866P979 694 226,819 SH   SOLE   226,819 0 0
TOLL BROTHERS INC COM 889478103 7,065 185,000 SH   SOLE   185,000 0 0
TRIUMPH BANCORP INC COM 89679E300 3,598 273,621 SH   SOLE   273,621 0 0
TWO RIV BANCORP COM 90207C105 798 87,300 SH   SOLE   87,300 0 0
UMPQUA HLDGS CORP COM 904214103 10,884 605,000 SH   SOLE   605,000 0 0
UNION BANKSHARES CORP NEW COM 90539J109 697 30,000 SH   SOLE   30,000 0 0
UNITED CMNTY BANCORP IND COM 90984R101 4,027 291,600 SH   SOLE   291,600 0 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 7,029 336,800 SH   SOLE   336,800 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 7,690 1,437,400 SH   SOLE   1,437,400 0 0
UNITED FINL BANCORP INC NEW COM 910304104 1,018 75,700 SH   SOLE   75,700 0 0
UNITED SECURITY BANCSHARES C COM 911460103 560 111,098 SH   SOLE   111,098 0 0
US BANCORP DEL COM NEW 902973304 8,680 200,000 SH   SOLE   200,000 0 0
WALKER & DUNLOP INC COM 93148P102 1,070 40,000 SH   SOLE   40,000 0 0
WASHINGTON FED INC COM 938824109 3,269 140,000 SH   SOLE   140,000 0 0
WATERSTONE FINL INC MD COM 94188P101 1,320 100,000 SH   SOLE   100,000 0 0
WEST BANCORPORATION INC CAP STK 95123P106 198 10,000 SH   SOLE   10,000 0 0
WEST END INDIANA BANCSHARES INC. COM 952678100 1,694 75,794 SH   SOLE   75,794 0 0
WILLIS LEASE FINANCE CORP COM 970646105 1,879 102,284 SH   SOLE   102,284 0 0
WILSHIRE BANCORP INC COM 97186T108 4,799 380,000 SH   SOLE   380,000 0 0
WINTRUST FINL CORP COM 97650W108 2,669 50,000 SH   SOLE   50,000 0 0
WOLVERINE BANCORP INC COM 977880103 4,561 180,623 SH   SOLE   180,623 0 0
WSFS FINANCIAL CORPORATION 6.50% PFD 929328409 3,409 125,596 SH   SOLE   125,596 0 0
WSFS FINL CORP COM 929328102 6,482 237,000 SH   SOLE   237,000 0 0
XENITH BANKSHARES INC COM 98410X105 3,299 549,000 SH   SOLE   549,000 0 0
ZIONS BANCORPORATION COM 989701107 14,600 460,000 SH   SOLE   460,000 0 0
ZIONS BANCORPORATION *W EXP 11/14/201 989701131 5,694 1,785,000 SH   SOLE   1,785,000 0 0