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
AMERIS BANCORP COM 03076K108 3,013 62,500 SH   SOLE   62,500 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 1,320 78,800 SH   SOLE   78,800 0 0
BANK COMM HLDGS COM 06424J103 471 42,623 SH   SOLE   42,623 0 0
BYLINE BANCORP COM 124411109 50 2,500 SH   SOLE   2,500 0 0
BANK OF THE OZARKS INC COM 063904106 2,062 44,000 SH   SOLE   44,000 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 820 54,800 SH   SOLE   54,800 0 0
BOFI HLDG COM 05566U108 1,363 57,450 SH   SOLE   57,450 0 0
CENTERSTATE BANKS COM 15201P109 4,880 196,300 SH   SOLE   196,300 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 645 29,100 SH   SOLE   29,100 0 0
CITIZENS FIRST CORP COM 17462Q107 1,753 79,360 SH   SOLE   79,360 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,899 351,400 SH   SOLE   351,400 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 4,082 181,000 SH   SOLE   181,000 0 0
EAGLE BANCORP INC MD COM 268948106 2,190 34,600 SH   SOLE   34,600 0 0
EAST WEST BANCORP INC COM 27579R104 3,456 59,000 SH   SOLE   59,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 2,346 57,500 SH   SOLE   57,500 0 0
FB FINL CORP COM 30257X104 90 2,500 SH   SOLE   2,500 0 0
FCB FINL HLDGS INC CL A 30255G103 1,275 26,700 SH   SOLE   26,700 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 649 28,100 SH   SOLE   28,100 0 0
FIRST SOUTH BANCORP INC VA COM 33646W100 2,795 169,000 SH   SOLE   169,000 0 0
FS BANCORP INC COM 30263Y104 556 12,306 SH   SOLE   12,306 0 0
GREAT WESTN BANCORP INC COM 391416104 1,122 27,500 SH   SOLE   27,500 0 0
GREEN BANCORP INC COM 39260X100 2,910 149,994 SH   SOLE   149,994 0 0
HANMI FINL CORP COM NEW 410495204 74 2,600 SH   SOLE   2,600 0 0
HAWTHORN BANCSHARES INC COM 420476103 3,412 162,864 SH   SOLE   162,864 0 0
HILLTOP HOLDINGS INC COM 432748101 904 34,500 SH   SOLE   34,500 0 0
HMN FINL INC COM 40424G108 3,313 188,800 SH   SOLE   188,800 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 340 30,929 SH   SOLE   30,929 0 0
INDEPENDENT BK GROUP INC COM 45384B106 2,303 38,700 SH   SOLE   38,700 0 0
INVESTAR HLDG CORP COM 46134L105 4,264 186,200 SH   SOLE   186,200 0 0
JPMORGAN CHASE & CO COM 46625H100 229 2,500 SH   SOLE   2,500 0 0
LAKELAND BANCORP INC COM 511637100 4,422 234,600 SH   SOLE   234,600 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 1,563 41,000 SH   SOLE   41,000 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 166 4,952 SH   SOLE   4,952 0 0
MID PENN BANCORP INC COM 59540G107 1,485 55,000 SH   SOLE   55,000 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 1,441 56,400 SH   SOLE   56,400 0 0
PACWEST BANCORP DEL COM 695263103 3,036 65,000 SH   SOLE   65,000 0 0
PARAGON COML CORP COM NEW 69911U403 1,910 36,401 SH   SOLE   36,401 0 0
PATRIOT NATL BANCORP INC COM NEW 70336F203 816 50,895 SH   SOLE   50,895 0 0
PEOPLES BANCORP N C INC COM 710577107 3,454 109,300 SH   SOLE   109,300 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,255 35,912 SH   SOLE   35,912 0 0
PLUMAS BANCORP COM 729273102 1,121 52,628 SH   SOLE   52,628 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 243 13,400 SH   SOLE   13,400 0 0
RENASANT CORP COM 75970E107 2,336 53,400 SH   SOLE   53,400 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 3,885 105,300 SH   SOLE   105,300 0 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 934 128,857 SH   SOLE   128,857 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101 7,351 198,400 SH   SOLE   198,400 0 0
SOUTHERN MO BANCORP INC COM 843380106 2,542 78,800 SH   SOLE   78,800 0 0
STEWARDSHIP FINL CORP COM 860326107 329 35,000 SH   SOLE   35,000 0 0
STONEGATE BK FT LAUDERDALE FLA COM 861811107 2,314 50,100 SH   SOLE   50,100 0 0
SUMMIT FINANCIAL GROUP COM 86606G101 1,265 57,500 SH   SOLE   57,500 0 0
SUNSHINE BANCORP INC COM 86777J108 2,968 139,292 SH   SOLE   139,292 0 0
SVB FINL GROUP COM 78486Q101 1,986 11,300 SH   SOLE   11,300 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1,316 17,000 SH   SOLE   17,000 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 4,906 159,300 SH   SOLE   159,300 0 0
TRICO BANCSHARES COM 896095106 260 7,400 SH   SOLE   7,400 0 0
UNIVEST CORP PA COM 915271100 3,145 105,000 SH   SOLE   105,000 0 0
VERITEX HLDGS INC COM 923451108 3,955 150,200 SH   SOLE   150,200 0 0
VILLAGE BK & TR FINANCIAL CO COM NEW 92705T200 137 4,309 SH   SOLE   4,309 0 0
WESTERN ALLIANCE BANCORP COM 957638109 556 11,300 SH   SOLE   11,300 0 0
ZIONS BANCORPORATION COM 989701107 3,557 81,000 SH   SOLE   81,000 0 0