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 1,395 76,453 SH   SOLE   76,453 0 0
BANK COMM HLDGS COM 06424J103 26 2,262 SH   SOLE   2,262 0 0
BANK OF THE OZARKS COM 063904106 2,132 44,000 SH   SOLE   44,000 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 754 50,469 SH   SOLE   50,469 0 0
BOFI HLDG INC COM 05566U108 1,734 58,000 SH   SOLE   58,000 0 0
CADENCE BANCORPORATION CL A 12739A100 393 14,500 SH   SOLE   14,500 0 0
CAROLINA FINL CORP NEW COM 143873107 3,179 85,581 SH   SOLE   85,581 0 0
CENTERSTATE BK CORP COM 15201P109 4,058 157,700 SH   SOLE   157,700 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 587 29,100 SH   SOLE   29,100 0 0
CITIZENS FIRST CORP COM 17462Q107 2,280 95,000 SH   SOLE   95,000 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,522 309,398 SH   SOLE   309,398 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 4,661 181,000 SH   SOLE   181,000 0 0
EAST WEST BANCORP INC COM 27579R104 3,589 59,000 SH   SOLE   59,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 4,515 100,000 SH   SOLE   100,000 0 0
FB FINL CORP COM 30257X104 105 2,500 SH   SOLE   2,500 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 669 30,226 SH   SOLE   30,226 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 625 15,600 SH   SOLE   15,600 0 0
FS BANCORP INC COM 30263Y104 677 12,406 SH   SOLE   12,406 0 0
GREAT WESTN BANCORP INC COM 391416104 1,095 27,500 SH   SOLE   27,500 0 0
GREEN BANCORP INC COM 39260X100 2,692 132,600 SH   SOLE   132,600 0 0
HAWTHORN BANCSHARES INC COM 420476103 2,579 124,300 SH   SOLE   124,300 0 0
HILLTOP HOLDINGS INC COM 432748101 836 33,000 SH   SOLE   33,000 0 0
HMN FINL INC COM 40424G108 3,606 188,800 SH   SOLE   188,800 0 0
HOME BANCSHARES INC COM 436893200 2,187 94,077 SH   SOLE   94,077 0 0
HOMESTREET INC COM 43785V102 449 15,500 SH   SOLE   15,500 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 346 30,929 SH   SOLE   30,929 0 0
INDEPENDENT BK GROUP INC COM 45384B106 3,071 45,432 SH   SOLE   45,432 0 0
INVESTAR HLDG CORP COM 46134L105 4,005 166,200 SH   SOLE   166,200 0 0
JPMORGAN CHASE & CO COM 46625H100 267 2,500 SH   SOLE   2,500 0 0
LAKELAND BANCORP INC COM 511637100 3,796 197,200 SH   SOLE   197,200 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 1,731 41,000 SH   SOLE   41,000 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 180 4,952 SH   SOLE   4,952 0 0
MERIDIAN BK PAOLI PA COM 58958P104 500 25,000 SH   SOLE   25,000 0 0
MID PENN BANCORP INC COM 59540G107 1,821 55,000 SH   SOLE   55,000 0 0
PACWEST BANCORP DEL COM 695263103 3,972 78,800 SH   SOLE   78,800 0 0
PARAGON COML CORP COM NEW 69911U403 1,937 36,401 SH   SOLE   36,401 0 0
PATRIOT NATL BANCORP INC COM NEW 70336F203 919 51,500 SH   SOLE   51,500 0 0
PEOPLES BANCORP N C INC COM 710577107 2,995 97,580 SH   SOLE   97,580 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,381 35,912 SH   SOLE   35,912 0 0
PLUMAS BANCORP COM 729273102 1,656 71,391 SH   SOLE   71,391 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 236 13,400 SH   SOLE   13,400 0 0
RENASANT CORP COM 75970E107 2,139 52,300 SH   SOLE   52,300 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 4,150 100,000 SH   SOLE   100,000 0 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 845 116,468 SH   SOLE   116,468 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 7,690 186,433 SH   SOLE   186,433 0 0
SOUTHERN MO BANCORP INC COM 843380106 2,457 65,356 SH   SOLE   65,356 0 0
STERLING BANCORP INC COM 85917W102 928 73,100 SH   SOLE   73,100 0 0
STEWARDSHIP FINL CORP COM 860326107 668 65,200 SH   SOLE   65,200 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 2,564 97,400 SH   SOLE   97,400 0 0
SUNSHINE BANCORP INC COM 86777J108 3,190 139,042 SH   SOLE   139,042 0 0
SVB FINL GROUP COM 78486Q101 3,086 13,200 SH   SOLE   13,200 0 0
TCF FINL CORP COM 872275102 625 30,500 SH   SOLE   30,500 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1,511 17,000 SH   SOLE   17,000 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 3,668 119,300 SH   SOLE   119,300 0 0
UNIVEST CORP PA COM 915271100 2,547 90,800 SH   SOLE   90,800 0 0
VERITEX HLDGS INC COM 923451108 4,144 150,200 SH   SOLE   150,200 0 0
VILLAGE BK & TR FINANCIAL CO COM NEW 92705T200 132 4,309 SH   SOLE   4,309 0 0
WESTERN ALLIANCE BANCORP COM 957638109 793 14,000 SH   SOLE   14,000 0 0
ZIONS BANCORPORATION COM 989701107 3,934 77,400 SH   SOLE   77,400 0 0