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
AMERICAN RIVER BANKSHARES COM COMMON 029326105 6,035 399,381 SH   SOLE   399,381 0 0
AMERISERV FINL INC COM COMMON 03074A102 3,090 835,225 SH   SOLE   835,225 0 0
Astoria Financial Corp COMMON 046265104 1,865 100,000 SH   SOLE   100,000 0 0
California First National Bancorp COMMON 130222102 6,061 387,295 SH   SOLE   387,295 0 0
CENTURY BANCORP INC MASS CL A NON VTG COMMON 156432106 2,077 34,616 SH   SOLE   34,616 0 0
CHEMUNG FINL CORP COM COMMON 164024101 4,522 124,411 SH   SOLE   124,411 0 0
CITIZENS FINL GROUP INC COM COMMON 174610105 7,725 216,800 SH   SOLE   216,800 0 0
Comerica Inc COMMON 200340107 11,296 165,846 SH   SOLE   165,846 0 0
Community West Bancshares COMMON 204157101 604 65,389 SH   SOLE   65,389 0 0
Codorus Vy Bancorp Inc COMMON 192025104 1,572 54,979 SH   SOLE   54,979 0 0
DNB FINL CORP COM COMMON 233237106 1,807 63,621 SH   SOLE   63,621 0 0
FBR & CO COM NEW COMMON 30247C400 534 41,074 SH   SOLE   41,074 0 0
FIRST FNDTN INC COM COMMON 32026V104 2,161 75,834 SH   SOLE   75,834 0 0
FIRST UTD CORP COM COMMON 33741H107 7,517 471,272 SH   SOLE   471,272 0 0
GEORGETOWN BANCORP INC COMMON 372591107 214 8,291 SH   SOLE   8,291 0 0
HMN Financial Inc COMMON 40424G108 1,347 76,994 SH   SOLE   76,994 0 0
HopFed Bancorp Inc COMMON 439734104 829 61,627 SH   SOLE   61,627 0 0
LANDMARK BANCORP INC COMMON 51504L107 486 17,352 SH   SOLE   17,352 0 0
MAGYAR BANCORP INC COM COMMON 55977T109 1,749 145,778 SH   SOLE   145,778 0 0
Middleburg Financial Corp COMMON 596094102 9,458 272,169 SH   SOLE   272,169 0 0
PB Bancorp Inc COMMON 70454T100 2,120 214,226 SH   SOLE   214,226 0 0
PEOPLES FINL CORP MISS COM COMMON 71103B102 4,029 249,463 SH   SOLE   249,463 0 0
PEOPLES UTAH BANCORP COM COMMON 712706209 3,434 127,905 SH   SOLE   127,905 0 0
Premier Finl Bancorp Inc COMMON 74050M105 619 30,786 SH   SOLE   30,786 0 0
RANDOLPH BANCORP INC COMMON 752378109 3,784 234,740 SH   SOLE   234,740 0 0
SOUND FINL BANCORP INC COM COMMON 83607A100 2,589 92,473 SH   SOLE   92,473 0 0
STONECASTLE FINANCIAL CORP COMMON 861780104 1,897 101,486 SH   SOLE   101,486 0 0
STONEGATE MTG CORP COM COMMON 86181Q300 5,405 905,436 SH   SOLE   905,436 0 0
TWO RIV BANCORP COM COMMON 90207C105 1,841 123,407 SH   SOLE   123,407 0 0
WELLS FARGO & CO NEW COM COMMON 949746101 3,913 71,000 SH   SOLE   71,000 0 0
WESTERN NEW ENGLAND BANCORP COMMON 958892101 4,506 481,968 SH   SOLE   481,968 0 0
ZIONS BANCORPORATION COM COMMON 989701107 7,704 179,000 SH   SOLE   179,000 0 0