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
CENTRAL FEDERAL CORP COM NEW 15346Q202 2,479 1,416,624 SH   SOLE   1,416,624 0 0
UNITED COMMUNITY FINANCIAL CORP COM 909839102 9,914 1,108,998 SH   SOLE   1,108,998 0 0
Regions Financial Corp COM 7591EP100 15,681 1,091,970 SH   SOLE   1,091,970 0 0
RIVERVIEW BANCORP INC COM 769397100 4,669 667,045 SH   SOLE   667,045 0 0
UNITED SECURITY BANCSHARES COM 911460103 4,440 572,882 SH   SOLE   572,882 0 0
CoBiz Financial Inc COM 190897108 9,274 549,068 SH   SOLE   549,068 0 0
HERITAGE COMMERCE CORP COM 426927109 5,991 415,166 SH   SOLE   415,166 0 0
CITIZENS FINANCIAL GROUP INC COM STK COM 174610105 13,593 381,500 SH   SOLE   381,500 0 0
ZIONS BANCORPORATION COM 989701107 15,807 367,258 SH   SOLE   367,258 0 0
MACATAWA BANK CORP COM 554225102 2,688 258,190 SH   SOLE   258,190 0 0
TRISTATE CAPITAL HOLDINGS INC COM 89678F100 5,654 255,830 SH   SOLE   255,830 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 12,110 253,872 SH   SOLE   253,872 0 0
VERITEX HOLDINGS INC COM 923451108 6,665 249,543 SH   SOLE   249,543 0 0
COMERICA INC WARRANT EXP *W EXP 11/14/201 200340115 9,537 246,120 SH   SOLE   246,120 0 0
First Community Corp COM 319835104 3,876 214,711 SH   SOLE   214,711 0 0
Banner Corp COM NEW 06652V208 11,937 213,888 SH   SOLE   213,888 0 0
BNC BANCORP COM 05566T101 6,551 205,347 SH   SOLE   205,347 0 0
FARMERS NATIONAL BANC CORP COM 309627107 2,727 192,013 SH   SOLE   192,013 0 0
QCR HOLDINGS INC COM 74727A104 8,311 191,930 SH   SOLE   191,930 0 0
GUARANTY BANCORP COM NEW 40075T607 4,347 179,642 SH   SOLE   179,642 0 0
Old Line Bancshares Inc COM 67984M100 4,151 173,102 SH   SOLE   173,102 0 0
SUNTRUST BANKS INC COM 867914103 8,462 154,275 SH   SOLE   154,275 0 0
Huntington Bancshares Inc COM 446150104 2,009 152,000 SH   SOLE   152,000 0 0
ConnectOne Bancorp Inc COM 20786W107 3,908 150,600 SH   SOLE   150,600 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 4,393 146,288 SH   SOLE   146,288 0 0
SUNSHINE BANCORP INC COM 86777J108 2,501 145,928 SH   SOLE   145,928 0 0
Territorial Bancorp Inc COM 88145X108 4,752 144,689 SH   SOLE   144,689 0 0
PREFERRED BANK COM NEW 740367404 7,319 139,616 SH   SOLE   139,616 0 0
EAGLE BANCORP INC COM 268948106 7,753 127,203 SH   SOLE   127,203 0 0
Park Sterling Corp COM 70086Y105 1,370 126,986 SH   SOLE   126,986 0 0
CAPSTAR FINANCIAL HOLDINGS INC COM 14070T102 2,420 110,200 SH   SOLE   110,200 0 0
DNB FINANCIAL CORP COM 233237106 2,650 93,296 SH   SOLE   93,296 0 0
CENTERSTATE BANKS INC COM 15201P109 2,323 92,303 SH   SOLE   92,303 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,868 90,887 SH   SOLE   90,887 0 0
PROSPERITY BANCSHARES INC COM 743606105 6,388 88,993 SH   SOLE   88,993 0 0
COMERICA INC COM 200340107 5,596 82,165 SH   SOLE   82,165 0 0
ASB Bancorp Inc COM 00213T109 2,188 73,558 SH   SOLE   73,558 0 0
NATIONAL COMMERCE CORP COM 63546L102 1,782 47,960 SH   SOLE   47,960 0 0
Stonegate Bank COM 861811107 1,873 44,880 SH   SOLE   44,880 0 0
1st Constitution Bancorp COM 31986N102 596 31,858 SH   SOLE   31,858 0 0
Peapack-Gladstone Financial Corp COM 704699107 841 27,238 SH   SOLE   27,238 0 0
ATLANTIC CAPITAL BANCSHARES INC COM 048269203 475 25,000 SH   SOLE   25,000 0 0
Bankwell Financial Group Inc COM 06654A103 668 20,555 SH   SOLE   20,555 0 0
PARAGON COMMERCIAL CORP COM NEW 69911U403 874 20,000 SH   SOLE   20,000 0 0
COMMERCE UNION BANCSHARES INC COM 200828101 295 13,732 SH   SOLE   13,732 0 0
Southern First Bancshares Inc COM 842873101 344 9,568 SH   SOLE   9,568 0 0
SUSSEX BANCORP COM 869245100 4 200 SH   SOLE   200 0 0