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 1,018 128,549 SH   SOLE   128,549 0 0
AMERICAN RIVER BANKSHARES COM 029326105 2,478 268,508 SH   SOLE   268,508 0 0
ANIXTER INTL INC COM 035290105 28,300 278,758 SH   SOLE   278,758 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102 4,724 88,712 SH   SOLE   88,712 0 0
ASTORIA FINL CORP COM 046265104 16,228 1,174,223 SH   SOLE   1,174,223 0 0
ATLANTIC COAST FINL CORP COM 048426100 6,883 1,532,955 SH   SOLE   1,532,955 0 0
BANC CALIF INC COM 05990K106 8,638 704,013 SH   SOLE   704,013 0 0
BANCORPSOUTH INC COM 059692103 1,446 57,919 SH   SOLE   57,919 0 0
BANK MUTUAL CORP NEW COM 063750103 6,896 1,087,733 SH   SOLE   1,087,733 0 0
BANK OF AMERICA CORP COM 060505104 42,577 2,475,430 SH   SOLE   2,475,430 0 0
BANK OF MARIN BANCORP COM 063425102 4,371 97,003 SH   SOLE   97,003 0 0
BANK NEW YORK MELLON CORP COM 064058100 44,235 1,253,468 SH   SOLE   1,253,468 0 0
BANKFINL CORP COM 06643P104 11,066 1,108,771 SH   SOLE   1,108,771 0 0
BANNER CORP COM NEW 06652V208 1,477 35,845 SH   SOLE   35,845 0 0
BARNES & NOBLE INC COM 067774109 1,356 64,900 SH   SOLE   64,900 0 0
BEACON ROOFING SUPPLY INC COM 073685109 13,686 354,004 SH   SOLE   354,004 0 0
BELDEN INC COM 077454106 42,669 613,054 SH   SOLE   613,054 0 0
BLACKROCK INC COM 09247X101 2,199 6,994 SH   SOLE   6,994 0 0
BOK FINL CORP COM NEW 05561Q201 7,847 113,643 SH   SOLE   113,643 0 0
BOSTON PRIVATE FINL HLDGS COM 101119105 3,171 234,358 SH   SOLE   234,358 0 0
BRIDGE BANCORP INC COM 108035106 15,584 583,445 SH   SOLE   583,445 0 0
BRIDGE CAP HLDGS COM 108030107 14,258 600,087 SH   SOLE   600,087 0 0
CAMDEN NATL CORP COM 133034108 3,070 74,514 SH   SOLE   74,514 0 0
CAPITAL CITY BK GROUP INC COM 139674105 10,486 789,589 SH   SOLE   789,589 0 0
CARDINAL FINL CORP COM 14149F109 9,757 547,218 SH   SOLE   547,218 0 0
CARLISLE COS INC COM 142339100 26,806 337,866 SH   SOLE   337,866 0 0
CARNIVAL CORP PAIRED CTF 143658300 6,042 159,596 SH   SOLE   159,596 0 0
CAROLINA BK HLDGS INC GREENS COM 143785103 2,529 246,724 SH   SOLE   246,724 0 0
CASCADE BANCORP COM NEW 147154207 21 3,801 SH   SOLE   3,801 0 0
CENTERSTATE BANKS INC COM 15201P109 15,228 1,394,517 SH   SOLE   1,394,517 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 23,731 1,174,796 SH   SOLE   1,174,796 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 4,625 401,854 SH   SOLE   401,854 0 0
CIT GROUP INC COM NEW 125581801 43,187 881,015 SH   SOLE   881,015 0 0
CITIGROUP INC COM NEW 172967424 47,291 993,517 SH   SOLE   993,517 0 0
CITY NATL CORP COM 178566105 41,711 529,870 SH   SOLE   529,870 0 0
COMERICA INC COM 200340107 4,661 89,972 SH   SOLE   89,972 0 0
COUSINS PPTYS INC COM 222795106 168 14,659 SH   SOLE   14,659 0 0
CU BANCORP CALIF COM 126534106 20,212 1,098,493 SH   SOLE   1,098,493 0 0
D R HORTON INC COM 23331A109 2,703 124,845 SH   SOLE   124,845 0 0
DANA HLDG CORP COM 235825205 10,966 471,244 SH   SOLE   471,244 0 0
DOVER CORP COM 260003108 16,003 195,759 SH   SOLE   195,759 0 0
DUKE REALTY CORP COM NEW 264411505 542 32,095 SH   SOLE   32,095 0 0
EASTERN VA BANKSHARES INC COM 277196101 1,327 205,790 SH   SOLE   205,790 0 0
EMCOR GROUP INC COM 29084Q100 7,554 161,452 SH   SOLE   161,452 0 0
EMPIRE NATIONAL BANK COM 291617108 458 51,319 SH   SOLE   51,319 0 0
FARMERS CAP BK CORP COM 309562106 16,609 739,471 SH   SOLE   739,471 0 0
FASTENAL CO COM 311900104 444 9,000 SH   SOLE   9,000 0 0
FELCOR LODGING TR INC COM 31430F101 625 69,095 SH   SOLE   69,095 0 0
FIDELITY NATIONAL FINL CL A 31620R105 11,878 377,791 SH   SOLE   377,791 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 9,283 173,670 SH   SOLE   173,670 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 29,479 2,110,196 SH   SOLE   2,110,196 0 0
FIFTH THIRD BANCORP COM 316773100 2,867 124,899 SH   SOLE   124,899 0 0
FIRST AMERN FINL CORP COM 31847R102 25,079 944,594 SH   SOLE   944,594 0 0
FIRST BANCORP N C COM 318910106 21,974 1,156,509 SH   SOLE   1,156,509 0 0
FIRST CHOICE BANK COM 319461109 2,303 187,986 SH   SOLE   187,986 0 0
FIRST CONN BANCORP INC MD COM 319850103 9,454 603,729 SH   SOLE   603,729 0 0
FIRST FINL HLDGS INC NEW COM 32023E105 2,652 42,350 SH   SOLE   42,350 0 0
FIRST HORIZON NATL CORP COM 320517105 1,085 87,900 SH   SOLE   87,900 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 406 21,003 SH   SOLE   21,003 0 0
FIRST INTERNET BANCORP COM 320557101 4,859 213,396 SH   SOLE   213,396 0 0
FIRST NBC BK HLDG CO COM 32115D106 13,645 391,422 SH   SOLE   391,422 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 12,791 1,353,592 SH   SOLE   1,353,592 0 0
FIRST SEC GROUP INC COM NEW 336312202 5,700 2,740,351 SH   SOLE   2,740,351 0 0
FIRST SOUTH BANCORP INC VA COM 33646W100 1,163 133,728 SH   SOLE   133,728 0 0
FLUOR CORP NEW COM 343412102 2,536 32,620 SH   SOLE   32,620 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 14,407 562,546 SH   SOLE   562,546 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 14,441 88,133 SH   SOLE   88,133 0 0
GREENHILL & CO INC COM 395259104 31,287 601,909 SH   SOLE   601,909 0 0
HALLIBURTON CO COM 406216101 8,936 151,742 SH   SOLE   151,742 0 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 12,775 8,034,761 SH   SOLE   8,034,761 0 0
HANCOCK HLDG CO COM 410120109 15,737 429,373 SH   SOLE   429,373 0 0
HARLEY DAVIDSON INC COM 412822108 30,255 454,214 SH   SOLE   454,214 0 0
HEIDRICK & STRUGGLES INTL IN COM 422819102 5,856 291,795 SH   SOLE   291,795 0 0
HERITAGE COMMERCE CORP COM 426927109 1,836 227,849 SH   SOLE   227,849 0 0
HERITAGE OAKS BANCORP COM 42724R107 7,440 920,750 SH   SOLE   920,750 0 0
MILLER HERMAN INC COM 600544100 1,855 57,734 SH   SOLE   57,734 0 0
HOME BANCORP INC COM 43689E107 1,541 73,393 SH   SOLE   73,393 0 0
HOMESTREET INC COM 43785V102 21,696 1,109,786 SH   SOLE   1,109,786 0 0
HONEYWELL INTL INC COM 438516106 15,134 163,150 SH   SOLE   163,150 0 0
HUDSON VALLEY HOLDING CORP COM 444172100 37,530 1,970,074 SH   SOLE   1,970,074 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 5,357 412,699 SH   SOLE   412,699 0 0
INSTALLED BLDG PRODS INC COM 45780R101 2,926 209,730 SH   SOLE   209,730 0 0
INTL BANCSHARES COR COM 459044103 15,069 600,856 SH   SOLE   600,856 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 875 13,780 SH   SOLE   13,780 0 0
JOS A BANK CLOTHIERS INC COM 480838101 4,332 67,370 SH   SOLE   67,370 0 0
JP MORGAN CHASE & CO COM 46625H100 44,501 733,012 SH   SOLE   733,012 0 0
KORN/FERRY INTL COM NEW 500643200 2,358 79,201 SH   SOLE   79,201 0 0
LAKELAND BANCORP INC COM 511637100 1,990 176,885 SH   SOLE   176,885 0 0
LEAR CORP COM NEW 521865204 6,619 79,065 SH   SOLE   79,065 0 0
LENNAR CORP COM 526057104 3,258 82,228 SH   SOLE   82,228 0 0
LINN ENERGY LLC UNIT LTD LIAB 536020100 1,120 39,541 SH   SOLE   39,541 0 0
LNB BANCORP INC COM 502100100 6,581 576,233 SH   SOLE   576,233 0 0
MACATAWA BANK CORP COM 554225102 1,343 266,410 SH   SOLE   266,410 0 0
MASCO CORP COM 574599106 3,877 174,565 SH   SOLE   174,565 0 0
MBT FINL CORP COM 578877102 2,573 522,971 SH   SOLE   522,971 0 0
MERCANTILE BANK CORP COM 587376104 417 20,230 SH   SOLE   20,230 0 0
METLIFE INC COM 59156R108 4,237 80,239 SH   SOLE   80,239 0 0
METRO BANCORP INC COM 59161R101 29,505 1,395,673 SH   SOLE   1,395,673 0 0
MIDSOUTH BANCORP INC COM 598039105 883 52,463 SH   SOLE   52,463 0 0
MOHAWK INDS INC COM 608190104 26,339 193,700 SH   SOLE   193,700 0 0
MORGAN STANLEY COM NEW 617446448 18,030 578,426 SH   SOLE   578,426 0 0
NCI BUILDING SYSTEMS INC COM NEW 628852204 2,532 145,043 SH   SOLE   145,043 0 0
NEW YORK COM BANCORP INC COM 649445103 1,177 73,265 SH   SOLE   73,265 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 10,571 1,480,506 SH   SOLE   1,480,506 0 0
NORTH VALLEY BANCORP COM NEW 66304M204 14,778 611,173 SH   SOLE   611,173 0 0
NORWEGIAN CRUISE LINE HOLDINGS LTD SHS G66721104 3,402 105,428 SH   SOLE   105,428 0 0
OCEANFIRST FINL CORP COM 675234108 17,210 972,883 SH   SOLE   972,883 0 0
OLD LINE BANCSHARES INC COM 67984M100 232 13,434 SH   SOLE   13,434 0 0
OLD SECOND BANCORP INC COM 680277100 18 3,905 SH   SOLE   3,905 0 0
ORRSTOWN FINL SERVICES INC COM 687380105 5,819 353,110 SH   SOLE   353,110 0 0
OSHKOSH CORP COM 688239201 7,153 121,504 SH   SOLE   121,504 0 0
OWENS CORNING INC COM 690742101 17,792 412,145 SH   SOLE   412,145 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 11,160 811,074 SH   SOLE   811,074 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 3,253 523,755 SH   SOLE   523,755 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 7,823 484,669 SH   SOLE   484,669 0 0
PACWEST BANCORP COM 695263103 9,312 216,514 SH   SOLE   216,514 0 0
PALMETTO BANCSHARES INC COM NEW 697062206 6,939 492,449 SH   SOLE   492,449 0 0
PARK STERLING CORP COM 70086Y105 7,046 1,059,532 SH   SOLE   1,059,532 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 3,112 141,452 SH   SOLE   141,452 0 0
PENNYMAC FINL SERVICE COM 70932B101 13,355 802,570 SH   SOLE   802,570 0 0
PEOPLES BANCORP OF NORTH CAROLINA COM 710577107 1,124 72,044 SH   SOLE   72,044 0 0
PLY GEM HOLDINGS INC COM 72941W100 2,984 236,257 SH   SOLE   236,257 0 0
POPULAR INC COM NEW 733174700 1,653 53,325 SH   SOLE   53,325 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 19,708 759,177 SH   SOLE   759,177 0 0
PREMIER FINL BANCORP INC COM 74050M105 4,693 327,249 SH   SOLE   327,249 0 0
PRIVATEBANCORP INC COM 742962103 34,785 1,140,125 SH   SOLE   1,140,125 0 0
PULASKI FINL CORP COM 745548107 9,986 946,547 SH   SOLE   946,547 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,537 68,789 SH Put SOLE   68,789 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 512 22,930 SH Put SOLE   22,930 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 560 2,995 SH Put SOLE   2,995 0 0
REGIONAL MANAGEMENT CORP COM 75902K106 5,565 225,662 SH   SOLE   225,662 0 0
REGIONS FINL CORP COM 7591EP100 2,001 180,089 SH   SOLE   180,089 0 0
REPUBLIC BANCORP KY CL A 760281204 5,693 251,912 SH   SOLE   251,912 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 4,957 1,287,583 SH   SOLE   1,287,583 0 0
RIVERVIEW BANCORP INC COM 769397100 2,073 605,083 SH   SOLE   605,083 0 0
ROWAN COS INC SHS CL A G7665A101 1,838 54,579 SH   SOLE   54,579 0 0
RYDER SYSTEM INC COM 783549108 7,974 99,778 SH   SOLE   99,778 0 0
SEACOAST BANKING CORP COM NEW 811707801 3,783 343,951 SH   SOLE   343,951 0 0
SHORE BANCSHARES INC COM 825107105 2,824 297,000 SH   SOLE   297,000 0 0
SIERRA BANCORP COM 82620P102 18,895 1,186,903 SH   SOLE   1,186,903 0 0
SODASTREAM INTERNATIONAL LTD USD SHS M9068E105 1,579 35,807 SH   SOLE   35,807 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101 336 24,253 SH   SOLE   24,253 0 0
SPX CORP COM 784635104 5,238 53,281 SH   SOLE   53,281 0 0
STATE STREET CORP COM 857477103 44,355 637,747 SH   SOLE   637,747 0 0
STEINER LEISURE LTD ORD P8744Y102 4,992 107,938 SH   SOLE   107,938 0 0
STEWART INFORMATION SVCS COR COM 860372101 23,057 656,336 SH   SOLE   656,336 0 0
STOCK BLDG SUPPLY HLDGS INC COM 86101X104 4,108 202,178 SH   SOLE   202,178 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 759 74,501 SH   SOLE   74,501 0 0
SUFFOLK BANCORP COM 864739107 15,013 673,247 SH   SOLE   673,247 0 0
SUN BANCORP INC COM 86663B102 4,150 1,235,210 SH   SOLE   1,235,210 0 0
SUNTRUST BANKS COM 867914103 3,911 98,299 SH   SOLE   98,299 0 0
SUSQUEHANNA BANCSHARES INC COM 869099101 8,197 720,956 SH   SOLE   720,956 0 0
SYNOVUS FINL CORP COM 87161C105 84,359 24,884,664 SH   SOLE   24,884,664 0 0
TAYLOR CAPITAL GROUP INC COM 876851106 5,654 236,352 SH   SOLE   236,352 0 0
TEREX CORP COM 880779103 7,564 170,740 SH   SOLE   170,740 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,952 36,938 SH   SOLE   36,938 0 0
THE COMMUNITY FINL CORP COM 20368X101 7,132 335,639 SH   SOLE   335,639 0 0
THE FIRST BANCSHARES INC COM 318916103 5,189 358,104 SH   SOLE   358,104 0 0
THE FIRST OF LONG ISLAND CORP COM 320734106 21,299 524,465 SH   SOLE   524,465 0 0
TIMBERLAND BANCORP INC COM 887098101 1,149 107,373 SH   SOLE   107,373 0 0
TITAN MACHINERY INC COM 88830R101 2,413 153,989 SH   SOLE   153,989 0 0
TRICO BANCSHARES COM 896095106 11,648 449,201 SH   SOLE   449,201 0 0
TUTOR PERINI CORP COM 901109108 5,293 184,613 SH   SOLE   184,613 0 0
UNITED BANKSHARES INC COM 909907107 5,517 180,165 SH   SOLE   180,165 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 2,198 560,774 SH   SOLE   560,774 0 0
US BANCORP DEL COM NEW 902973304 49,377 1,152,064 SH   SOLE   1,152,064 0 0
VALLEY NATIONAL BANCORP COM 919794107 3,397 326,306 SH   SOLE   326,306 0 0
WASHINGTONFIRST BANKSHARE INC COM 940730104 2,455 168,475 SH   SOLE   168,475 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 3,997 202,283 SH   SOLE   202,283 0 0
WEINGARTEN REALTY INVESTORS SH BEN INT 948741103 655 21,830 SH   SOLE   21,830 0 0
WELLS FARGO & CO COM 949746101 60,482 1,215,959 SH   SOLE   1,215,959 0 0
WESCO INTL INC COM 95082P105 28,713 345,025 SH   SOLE   345,025 0 0
WESTAMERICA BANCORP COM 957090103 1,974 36,500 SH   SOLE   36,500 0 0
WILLIS GROUP HOLDINGS LTD SHS G96666105 13,535 306,699 SH   SOLE   306,699 0 0
WINTRUST FINL CORP COM 97650W108 27,516 565,477 SH   SOLE   565,477 0 0
XEROX CORP COM 984121103 5,287 467,901 SH   SOLE   467,901 0 0
ZIONS BANCORP COM 989701107 13,591 438,688 SH   SOLE   438,688 0 0