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 UTD BANCORP INC FLA COM COM 33740N105 1,411 165,577 SH   SOLE   165,577 0 0
AMERIS BANCORP COM COM 03076k108 5,031 229,190 SH   SOLE   229,190 0 0
ASB BANCORP INC COM 00213t109 4,813 238,844 SH   SOLE   238,844 0 0
ASTORIA FINANCIAL CORP COM 046265104 1,239 100,000 SH   SOLE   100,000 0 0
ATLANTIC COAST FINANCIAL CORPO COM 048426100 2,956 724,470 SH   SOLE   724,470 0 0
BANC OF CALIFORNIA INC COM 05990k106 5,099 438,473 SH   SOLE   438,473 0 0
BANK OF AMERICA CORP COM 060505104 3,420 200,600 SH   SOLE   200,600 0 0
BNC BANCORP COM 05566t101 4,999 319,216 SH   SOLE   319,216 0 0
BRIDGE BANCORP INC COM 108035106 557 23,544 SH   SOLE   23,544 0 0
BSB BANCORP INC MD COM 05573h108 282 15,313 SH   SOLE   15,313 0 0
C1 FINANCIAL INC COM COM 12591n109 3,115 171,826 SH   SOLE   171,826 0 0
CARTER BK & TR MARTINSVILLE VA COM 146102108 729 62,280 SH   SOLE   62,280 0 0
CENTERSTATE BANKS INC COM 15201P109 2,629 254,010 SH   SOLE   254,010 0 0
CITIGROUP INC COM NEW COM 172967424 2,591 50,000 SH   SOLE   50,000 0 0
CITIZENS FIRST CORPORATION COM 17462q107 184 15,968 SH   SOLE   15,968 0 0
COBIZ FINANCIAL INC COM 190897108 838 75,000 SH   SOLE   75,000 0 0
CONNECTONE BANCORP INC COM 20786w107 12,105 635,451 SH   SOLE   635,451 0 0
COWEN GROUP INC CLASS A COM 223622101 3,692 984,629 SH   SOLE   984,629 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 2,985 217,868 SH   SOLE   217,868 0 0
FINANCIAL INSTITUTIONS INC COM COM 317585404 1,244 55,324 SH   SOLE   55,324 0 0
FIRST BANCORP NC COM 318910106 449 28,050 SH   SOLE   28,050 0 0
FIRST BANCSHARES INC-MISS COM 318916103 562 38,900 SH   SOLE   38,900 0 0
FIRST CAPITAL BANCORP INC COM 319438107 133 29,932 SH   SOLE   29,932 0 0
FIRST COMMUNITY CORPORATION COM 319835104 1,774 166,760 SH   SOLE   166,760 0 0
FIRST SECURITY GROUP INC COM 336312202 1,563 789,610 SH   SOLE   789,610 0 0
FOX CHASE BANCORP INC COM 35137t108 583 35,773 SH   SOLE   35,773 0 0
FRANKLIN FINANCIAL CORPORATION COM 35353C102 930 50,000 SH   SOLE   50,000 0 0
GUARANTY BANCORP DEL COM NEW COM 40075t607 701 51,865 SH   SOLE   51,865 0 0
HERITAGE OAKS BANCORP COM 42724r107 261 37,252 SH   SOLE   37,252 0 0
HERTZ GLOBAL HLDGS INCCOM COM 42805t105 1,269 50,000 SH   SOLE   50,000 0 0
HOME BANCSHARES INC COM 436893200 1,470 50,000 SH   SOLE   50,000 0 0
HOMETRUST BANCSHARES INC COM COM 437872104 11,767 805,439 SH   SOLE   805,439 0 0
INVESTORS BANCORP NEW COM 46146l101 5,065 500,000 SH   SOLE   500,000 0 0
JACKSONVILLE BANCORP INC COM 469249205 1,480 137,131 SH   SOLE   137,131 0 0
KEARNY FINL CORP COM ISIN#US48 COM 487169104 933 70,000 SH   SOLE   70,000 0 0
NBT BANCORP INC COM 628778102 1,839 81,670 SH   SOLE   81,670 0 0
OAK VIEW NATIONAL BANK WARRENT COM 67134x105 192 35,272 SH   SOLE   35,272 0 0
OPUS BANK COM 684000102 5,188 169,370 SH   SOLE   169,370 0 0
PALMETTO BANCSHARES INC COM COM 697062206 1,817 128,490 SH   SOLE   128,490 0 0
PARK STERLING CORP COM 70086y105 2,190 330,247 SH   SOLE   330,247 0 0
PEREGRINE HOLDINGS COM 995331600 298 275,000 SH   SOLE   275,000 0 0
REGIONAL MANAGEMENT CORP COM 75902K106 2,220 123,667 SH   SOLE   123,667 0 0
REGIONS FINANCIAL CORP COM 7591EP100 1,004 100,000 SH   SOLE   100,000 0 0
SEACOAST BANKING CORPORATION O COM 811707801 4,546 415,895 SH   SOLE   415,895 0 0
SELECT BANCORP INC COM COM 81617l108 592 79,445 SH   SOLE   79,445 0 0
SHORE BANCSHARES INC COM 825107105 1,977 219,670 SH   SOLE   219,670 0 0
SILVERCREST ASSET MANAGEMENT G COM 828359109 2,056 150,991 SH   SOLE   150,991 0 0
SOUTH ST CORP COM 840441109 5,592 100,000 SH   SOLE   100,000 0 0
SOUTHCOAST FINANCIAL CORP COM 84129r100 759 106,958 SH   SOLE   106,958 0 0
SOUTHERN NATIONAL BANCORP OF V COM 843395104 1,562 134,740 SH   SOLE   134,740 0 0
SOUTHWEST BANCORP INC-OKLA COM 844767103 673 41,038 SH   SOLE   41,038 0 0
SQUARE 1 FINANCIAL INC CL A COM 85223w101 2,118 110,159 SH   SOLE   110,159 0 0
STATE BANK FINANCIAL CORPORATI COM 856190103 3,727 229,506 SH   SOLE   229,506 0 0
SUN BANCORP INC NJ COM 86663B201 435 24,038 SH   SOLE   24,038 0 0
SUNSHINE FINANCIAL INC COM 86782t109 601 32,508 SH   SOLE   32,508 0 0
SUNTRUST BANKS INC COM 867914103 951 25,000 SH   SOLE   25,000 0 0
SWS GROUP INC COM 78503N107 1,261 183,068 SH   SOLE   183,068 0 0
SYNCHRONY FINANCIAL COM 87165B103 2,551 103,892 SH   SOLE   103,892 0 0
SYNOVUS FINL CORP COM 87161C501 4,964 210,000 SH   SOLE   210,000 0 0
TFS FINANCIAL CORP COM 87240R107 932 65,050 SH   SOLE   65,050 0 0
TRISTATE CAPITAL HOLDINGS INC COM 89678f100 3,511 387,111 SH   SOLE   387,111 0 0
UNITED FINANCIAL BANCORP COM 910304104 1,872 147,532 SH   SOLE   147,532 0 0
VIEWPOINT FINL GROUP INCMD COM COM 92672a101 2,568 107,279 SH   SOLE   107,279 0 0
YADKIN FINANCIAL CORPORATION C COM 984305102 14,736 811,443 SH   SOLE   811,443 0 0
M&T BANK CORP -WT18 WARRANTS 1 WT 55261F112 4,142 80,000 SH   SOLE   80,000 0 0
PORTER BANCORP WTS 6/30/15 WT 932875 0 182,607 SH   SOLE   182,607 0 0
PUT ACE OCT 100.0000 10/18/201 PUT 8C10099 2,621 25,000 SH   SOLE   25,000 0 0
PUT BK OCT 39.00000 10/18/2014 PUT 8E09642 968 25,000 SH   SOLE   25,000 0 0
PUT RNR OCT 100.0000 10/18/201 PUT 9GFQPM3 1,499 15,000 SH   SOLE   15,000 0 0
PUT SCHW OCT 26.00000 10/18/20 PUT 8GQFJJ9 1,763 60,000 SH   SOLE   60,000 0 0
PUT WFC OCT 50.00000 10/18/201 PUT 8GFWJD5 1,296 25,000 SH   SOLE   25,000 0 0
PUT XL OCT 32.00000 10/18/2014 PUT 8GFWVW1 1,658 50,000 SH   SOLE   50,000 0 0
PUT XLF OCT 23.00000 10/18/201 PUT 8GMQTN8 4,634 200,000 SH   SOLE   200,000 0 0