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 CONSTITUTION BANCORP COM 31986N102 1,276 69,163 SH   SOLE   69,163 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 523 14,064 SH   SOLE   14,064 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 397 10,651 SH   SOLE   10,651 0 0
AMERICAN RIVER BANKSHARES COM 029326105 270 18,231 SH   SOLE   18,231 0 0
AMERISERV FINL INC COM 03074A102 2,422 645,924 SH   SOLE   645,924 0 0
ANCHOR BANCORP WA COM 032838104 2,892 111,463 SH   SOLE   111,463 0 0
AUBURN NATL BANCORP COM 050473107 259 7,860 SH   SOLE   7,860 0 0
BANCFIRST CORP COM 05945F103 805 8,956 SH   SOLE   8,956 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 503 32,993 SH   SOLE   32,993 0 0
BANK COMM HLDGS COM 06424J103 1,002 93,633 SH   SOLE   93,633 0 0
BANK OF MARIN BANCORP COM 063425102 606 9,420 SH   SOLE   9,420 0 0
BANKUNITED INC COM 06652K103 4,816 129,074 SH   SOLE   129,074 0 0
BANKWELL FINL GROUP INC COM 06654A103 1,016 29,547 SH   SOLE   29,547 0 0
BANNER CORP COM NEW 06652V208 5,928 106,541 SH   SOLE   106,541 0 0
BAY BANCORP INC COM 07203T106 405 51,546 SH   SOLE   51,546 0 0
C & F FINL CORP COM 12466Q104 1,521 32,850 SH   SOLE   32,850 0 0
CARDINAL FINL CORP COM 14149F109 503 16,802 SH   SOLE   16,802 0 0
CAROLINA BK HLDGS INC GREENS COM 143785103 13,621 504,273 SH   SOLE   504,273 0 0
CASCADE BANCORP COM NEW 147154207 221 28,639 SH   SOLE   28,639 0 0
CENTRAL FED CORP COM NEW 15346Q202 666 311,047 SH   SOLE   311,047 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 2,526 123,219 SH   SOLE   123,219 0 0
CENTRUE FINL CORP NEW COM NEW 15643B205 2,428 93,105 SH   SOLE   93,105 0 0
CHARTER FINL CORP MD COM 16122W108 2,487 126,446 SH   SOLE   126,446 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 820 36,982 SH   SOLE   36,982 0 0
CNB FINL CORP PA COM 126128107 205 8,567 SH   SOLE   8,567 0 0
CODORUS VY BANCORP INC COM 192025104 551 21,269 SH   SOLE   21,269 0 0
COLONY BANKCORP INC COM 19623P101 142 10,247 SH   SOLE   10,247 0 0
COMMUNITY BANKERS TR CORP COM 203612106 442 55,219 SH   SOLE   55,219 0 0
COMMUNITY TR BANCORP INC COM 204149108 530 11,581 SH   SOLE   11,581 0 0
COMMUNITY WEST BANCSHARES COM 204157101 585 57,313 SH   SOLE   57,313 0 0
CU BANCORP CALIF COM 126534106 2,495 62,932 SH   SOLE   62,932 0 0
CUSTOMERS BANCORP INC COM 23204G100 3,855 122,280 SH   SOLE   122,280 0 0
DIME CMNTY BANCSHARES COM 253922108 5,824 286,891 SH   SOLE   286,891 0 0
EAGLE BANCORP MONT INC COM 26942G100 303 15,202 SH   SOLE   15,202 0 0
ENTEGRA FINL CORP COM 29363J108 621 26,239 SH   SOLE   26,239 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 1,344 38,661 SH   SOLE   38,661 0 0
EVERBANK FINL CORP COM 29977G102 287 14,739 SH   SOLE   14,739 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 3,841 171,631 SH   SOLE   171,631 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 697 26,832 SH   SOLE   26,832 0 0
FIRST CMNTY FINL PARTNERS IN COM 31985Q106 801 62,850 SH   SOLE   62,850 0 0
FIRST DEFIANCE FINL CORP COM 32006W106 539 10,887 SH   SOLE   10,887 0 0
FIRST FINL CORP IND COM 320218100 220 4,626 SH   SOLE   4,626 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 2,864 162,099 SH   SOLE   162,099 0 0
FIRST FNDTN INC COM 32026V104 865 55,760 SH   SOLE   55,760 0 0
FIRST MID ILL BANCSHARES INC COM 320866106 1,512 44,680 SH   SOLE   44,680 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,199 77,355 SH   SOLE   77,355 0 0
FIRST SOUTH BANCORP INC VA COM 33646W100 202 16,613 SH   SOLE   16,613 0 0
FIRST US BANCSHARES INC COM 33744V103 815 65,747 SH   SOLE   65,747 0 0
FLUSHING FINL CORP COM 343873105 450 16,757 SH   SOLE   16,757 0 0
FNB CORP PA COM 302520101 164 11,000 SH   SOLE   11,000 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 4,206 108,536 SH   SOLE   108,536 0 0
FS BANCORP INC COM 30263Y104 1,457 39,021 SH   SOLE   39,021 0 0
GEORGETOWN BANCORP INC MD COM 372591107 3,141 121,259 SH   SOLE   121,259 0 0
GLEN BURNIE BANCORP COM 377407101 551 46,116 SH   SOLE   46,116 0 0
GREAT SOUTHN BANCORP INC COM 390905107 1,266 25,068 SH   SOLE   25,068 0 0
GREEN BANCORP INC COM 39260X100 7,192 404,028 SH   SOLE   404,028 0 0
HAMILTON BANCORP INC MD COM 407015106 954 62,130 SH   SOLE   62,130 0 0
HEARTLAND FINL USA INC COM 42234Q102 1,876 37,566 SH   SOLE   37,566 0 0
HERITAGE COMMERCE CORP COM 426927109 1,559 110,565 SH   SOLE   110,565 0 0
HERITAGE FINL CORP WASH COM 42722X106 4,667 188,582 SH   SOLE   188,582 0 0
HERITAGE OAKS BANCORP COM 42724R107 2,867 214,737 SH   SOLE   214,737 0 0
HILLTOP HOLDINGS INC COM 432748101 6,207 225,952 SH   SOLE   225,952 0 0
HOME BANCORP INC COM 43689E107 828 24,538 SH   SOLE   24,538 0 0
HOMESTREET INC COM 43785V102 3,783 135,357 SH   SOLE   135,357 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 214 22,104 SH   SOLE   22,104 0 0
HOMETRUST BANCSHARES INC COM 437872104 1,276 54,277 SH   SOLE   54,277 0 0
HOPE BANCORP INC COM 43940T109 3,046 158,884 SH   SOLE   158,884 0 0
HOWARD BANCORP INC COM 442496105 587 31,370 SH   SOLE   31,370 0 0
IBERIABANK CORP COM 450828108 5,683 71,840 SH   SOLE   71,840 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 7,691 217,250 SH   SOLE   217,250 0 0
MACKINAC FINL CORP COM 554571109 359 26,148 SH   SOLE   26,148 0 0
MERCHANTS BANCSHARES COM 588448100 14,287 293,362 SH   SOLE   293,362 0 0
MIDDLEBURG FINANCIAL CORP COM 596094102 5,721 142,871 SH   SOLE   142,871 0 0
NATIONAL BK HLDGS CORP CL A 633707104 4,195 129,074 SH   SOLE   129,074 0 0
NORTHEAST BANCORP COM NEW 663904209 3,025 197,682 SH   SOLE   197,682 0 0
NORWOOD FINANCIAL CORP COM 669549107 346 8,270 SH   SOLE   8,270 0 0
OPUS BK IRVINE CALIF COM 684000102 880 43,651 SH   SOLE   43,651 0 0
ORITANI FINL CORP DEL COM 68633D103 5,637 331,613 SH   SOLE   331,613 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 10,413 425,015 SH   SOLE   425,015 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 1,294 171,437 SH   SOLE   171,437 0 0
PACWEST BANCORP DEL COM 695263103 6,864 128,882 SH   SOLE   128,882 0 0
PARKE BANCORP INC COM 700885106 1,129 52,899 SH   SOLE   52,899 0 0
PEOPLES BANCORP INC COM 709789101 1,165 36,804 SH   SOLE   36,804 0 0
PEOPLES FINL CORP MISS COM 71103B102 708 47,012 SH   SOLE   47,012 0 0
PEOPLES UTAH BANCORP COM 712706209 1,383 52,283 SH   SOLE   52,283 0 0
PLUMAS BANCORP COM 729273102 741 40,714 SH   SOLE   40,714 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 3,588 66,872 SH   SOLE   66,872 0 0
PREMIER FINL BANCORP INC COM 74050M105 1,965 93,459 SH   SOLE   93,459 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 397 22,265 SH   SOLE   22,265 0 0
RIVERVIEW BANCORP INC COM 769397100 190 26,617 SH   SOLE   26,617 0 0
SB FINL GROUP INC COM 78408D105 536 32,041 SH   SOLE   32,041 0 0
SELECT BANCORP INC NEW COM 81617L108 1,873 171,867 SH   SOLE   171,867 0 0
SHORE BANCSHARES INC COM 825107105 2,198 131,512 SH   SOLE   131,512 0 0
SIERRA BANCORP COM 82620P102 1,452 52,924 SH   SOLE   52,924 0 0
SOUND FINL BANCORP INC COM 83607A100 1,852 58,350 SH   SOLE   58,350 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 1,266 74,766 SH   SOLE   74,766 0 0
SOUTHWEST BANCORP INC OKLA COM 844767103 1,218 46,575 SH   SOLE   46,575 0 0
STATE BK FINL CORP COM 856190103 7,325 280,453 SH   SOLE   280,453 0 0
STEWARDSHIP FINL CORP COM 860326107 458 53,541 SH   SOLE   53,541 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 5,440 115,529 SH   SOLE   115,529 0 0
SUFFOLK BANCORP COM 864739107 3,225 79,798 SH   SOLE   79,798 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 1,058 81,038 SH   SOLE   81,038 0 0
TIMBERLAND BANCORP INC COM 887098101 1,505 67,168 SH   SOLE   67,168 0 0
TRICO BANCSHARES COM 896095106 1,758 49,480 SH   SOLE   49,480 0 0
TRUSTCO BK CORP N Y COM 898349105 1,373 174,861 SH   SOLE   174,861 0 0
UMPQUA HLDGS CORP COM 904214103 2,848 160,537 SH   SOLE   160,537 0 0
UNITED SECURITY BANCSHARES C COM 911460103 1,142 156,401 SH   SOLE   156,401 0 0
WASHINGTONFIRST BANKSHARES I COM 940730104 646 23,066 SH   SOLE   23,066 0 0
WATERSTONE FINL INC MD COM 94188P101 1,577 86,396 SH   SOLE   86,396 0 0
WAYNE SVGS BANCSHARES INC NE COM 94624Q101 208 11,690 SH   SOLE   11,690 0 0
WINTRUST FINL CORP COM 97650W108 3,648 52,776 SH   SOLE   52,776 0 0
WVS FINL CORP COM 929358109 960 64,231 SH   SOLE   64,231 0 0
XENITH BANKSHARES INC COM 98410X105 13,694 539,787 SH   SOLE   539,787 0 0