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
AFFILIATED MANAGERS GROUP COM 008252108 203 1,000 SH   SOLE   1,000 0 0
AIR LEASE CORP CL A 00912X302 264 5,500 SH   SOLE   5,500 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 542 14,400 SH   SOLE   14,400 0 0
ARBOR RLTY TR INC COM 038923108 248 28,600 SH   SOLE   28,600 0 0
ARES CAP CORP COM 04010L103 248 15,800 SH   SOLE   15,800 0 0
ATLANTIC COAST FINL CORP COM 048426100 14,624 1,550,800 SH   SOLE   1,550,800 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 255 5,100 SH   SOLE   5,100 0 0
BANNER CORP COM NEW 06652V208 3,898 70,700 SH   SOLE   70,700 0 0
BAY BANCORP INC COM 07203T106 4,030 329,700 SH   SOLE   329,700 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 2,928 80,000 SH   SOLE   80,000 0 0
BLUEROCK RESIDENTIAL GRW REI COM CL A 09627J102 166 16,500 SH   SOLE   16,500 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 2,012 128,100 SH   SOLE   128,100 0 0
BRYN MAWR BK CORP COM 117665109 7,483 169,300 SH   SOLE   169,300 0 0
BSB BANCORP INC MD COM 05573H108 11,913 407,300 SH   SOLE   407,300 0 0
BYLINE BANCORP INC COM 124411109 6,540 284,700 SH   SOLE   284,700 0 0
CAPITAL ONE FINL CORP COM 14040H105 250 2,500 SH   SOLE   2,500 0 0
CBTX INC COM 12481V104 6,861 231,300 SH   SOLE   231,300 0 0
CIT GROUP INC COM NEW 125581801 201 4,100 SH   SOLE   4,100 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 2,785 206,300 SH   SOLE   206,300 0 0
CITIZENS FINL GROUP INC COM 174610105 214 5,100 SH   SOLE   5,100 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,128 51,300 SH   SOLE   51,300 0 0
COASTWAY BANCORP INC COM 190632109 2,519 118,800 SH   SOLE   118,800 0 0
COBIZ FINANCIAL INC COM 190897108 1,891 94,600 SH   SOLE   94,600 0 0
CODORUS VY BANCORP INC COM 192025104 3,901 141,700 SH   SOLE   141,700 0 0
COMMERCE UN BANCSHARES INC COM 200828101 2,650 103,400 SH   SOLE   103,400 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 329 6,600 SH   SOLE   6,600 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 24,387 688,700 SH   SOLE   688,700 0 0
EVANS BANCORP INC COM NEW 29911Q208 7,077 168,900 SH   SOLE   168,900 0 0
FB FINL CORP COM 30257X104 10,498 250,000 SH   SOLE   250,000 0 0
FFBW INC COM 30258M107 276 25,000 SH   SOLE   25,000 0 0
FIRST BANCSHARES INC MS COM 318916103 10,522 307,700 SH   SOLE   307,700 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 19,706 1,422,900 SH   SOLE   1,422,900 0 0
FIRST CMNTY CORP S C COM 319835104 6,905 305,500 SH   SOLE   305,500 0 0
FIRST CONN BANCORP INC MD COM 319850103 20,470 782,800 SH   SOLE   782,800 0 0
FIRST HAWAIIAN INC COM 32051X108 1,782 61,100 SH   SOLE   61,100 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 7,054 123,700 SH   SOLE   123,700 0 0
FS BANCORP INC COM 30263Y104 3,084 56,500 SH   SOLE   56,500 0 0
GREAT AJAX CORP COM 38983D300 245 17,700 SH   SOLE   17,700 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 18,598 672,600 SH   SOLE   672,600 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 10,291 335,800 SH   SOLE   335,800 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 9,133 406,800 SH   SOLE   406,800 0 0
HANOVER INS GROUP INC COM 410867105 210 1,900 SH   SOLE   1,900 0 0
HILLTOP HOLDINGS INC COM 432748101 633 25,000 SH   SOLE   25,000 0 0
HOME BANCORP INC COM 43689E107 31,211 722,100 SH   SOLE   722,100 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 3,444 121,500 SH   SOLE   121,500 0 0
HOMESTREET INC COM 43785V102 1,151 39,800 SH   SOLE   39,800 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 5,465 489,100 SH   SOLE   489,100 0 0
HOPFED BANCORP INC COM 439734104 866 61,400 SH   SOLE   61,400 0 0
HOWARD BANCORP INC COM 442496105 1,187 54,000 SH   SOLE   54,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 10,840 485,000 SH   SOLE   485,000 0 0
INDEPENDENT BK GROUP INC COM 45384B106 9,183 135,800 SH   SOLE   135,800 0 0
INVESTAR HLDG CORP COM 46134L105 19,155 794,800 SH   SOLE   794,800 0 0
INVESTORS BANCORP INC NEW COM 46146L101 36,512 2,630,500 SH   SOLE   2,630,500 0 0
JACKSONVILLE BANCORP INC MD COM 46924R106 2,048 63,900 SH   SOLE   63,900 0 0
KEYCORP NEW COM 493267108 205 10,200 SH   SOLE   10,200 0 0
LADDER CAP CORP CL A 505743104 224 16,400 SH   SOLE   16,400 0 0
LAZARD LTD SHS A G54050102 289 5,500 SH   SOLE   5,500 0 0
LENNAR CORP CL A 526057104 227 3,600 SH   SOLE   3,600 0 0
LPL FINL HLDGS INC COM 50212V100 220 3,900 SH   SOLE   3,900 0 0
LUTHER BURBANK CORP COM 550550107 5,694 472,900 SH   SOLE   472,900 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 1,082 29,800 SH   SOLE   29,800 0 0
MALVERN BANCORP INC COM 561409103 16,992 648,600 SH   SOLE   648,600 0 0
MBT FINL CORP COM 578877102 3,542 334,200 SH   SOLE   334,200 0 0
MERCHANTS BANCORP IND COM 58844R108 2,820 143,300 SH   SOLE   143,300 0 0
MERIDIAN BK PAOLI PA COM 58958P104 3,397 170,000 SH   SOLE   170,000 0 0
MGIC INVT CORP WIS COM 552848103 208 14,700 SH   SOLE   14,700 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 16,659 512,900 SH   SOLE   512,900 0 0
MIDSOUTH BANCORP INC COM 598039105 10,518 793,800 SH   SOLE   793,800 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 2,724 81,200 SH   SOLE   81,200 0 0
MUTUALFIRST FINL INC COM 62845B104 10,657 276,400 SH   SOLE   276,400 0 0
NATIONAL BK HLDGS CORP CL A 633707104 21,870 674,400 SH   SOLE   674,400 0 0
NEW MTN FIN CORP COM 647551100 162 12,000 SH   SOLE   12,000 0 0
OCEANFIRST FINL CORP COM 675234108 16,281 620,200 SH   SOLE   620,200 0 0
OLD LINE BANCSHARES INC COM 67984M100 18,530 629,400 SH   SOLE   629,400 0 0
OLD NATL BANCORP IND COM 680033107 7,834 449,000 SH   SOLE   449,000 0 0
OLD POINT FINL CORP COM 680194107 9,038 303,800 SH   SOLE   303,800 0 0
OLD SECOND BANCORP INC ILL COM 680277100 5,164 378,300 SH   SOLE   378,300 0 0
OTTAWA BANCORP INC COM 689195105 1,398 96,800 SH   SOLE   96,800 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 216 24,700 SH   SOLE   24,700 0 0
PACIFIC PREMIER BANCORP COM 69478X105 34,514 862,900 SH   SOLE   862,900 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 39,551 596,500 SH   SOLE   596,500 0 0
POAGE BANKSHARES INC COM 730206109 334 15,900 SH   SOLE   15,900 0 0
PROVIDENT BANCORP INC COM 74383X109 2,090 79,000 SH   SOLE   79,000 0 0
RBB BANCORP COM 74930B105 20,556 751,100 SH   SOLE   751,100 0 0
RIVERVIEW BANCORP INC COM 769397100 7,444 858,600 SH   SOLE   858,600 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 16,004 634,800 SH   SOLE   634,800 0 0
SHORE BANCSHARES INC COM 825107105 6,586 394,400 SH   SOLE   394,400 0 0
SOUND FINL BANCORP INC COM 83607A100 3,072 90,300 SH   SOLE   90,300 0 0
SOUTHERN MO BANCORP INC COM 843380106 25,547 679,600 SH   SOLE   679,600 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 201 5,000 SH   SOLE   5,000 0 0
STERLING BANCORP DEL COM 85917A100 2,829 115,000 SH   SOLE   115,000 0 0
SUN BANCORP INC COM NEW 86663B201 26,269 1,081,000 SH   SOLE   1,081,000 0 0
SUNTRUST BKS INC COM 867914103 203 3,100 SH   SOLE   3,100 0 0
TCP CAP CORP COM 87238Q103 204 13,400 SH   SOLE   13,400 0 0
TRIANGLE CAP CORP COM 895848109 160 16,900 SH   SOLE   16,900 0 0
UNION BANKSHARES CORP NEW COM 90539J109 1,447 40,000 SH   SOLE   40,000 0 0
UNITED CMNTY BANCORP IND COM 90984R101 1,911 93,000 SH   SOLE   93,000 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 16,862 1,846,900 SH   SOLE   1,846,900 0 0
UNITED SECURITY BANCSHARES C COM 911460103 749 68,100 SH   SOLE   68,100 0 0
UNIVEST CORP PA COM 915271100 21,000 748,700 SH   SOLE   748,700 0 0
VERITEX HLDGS INC COM 923451108 59,310 2,149,700 SH   SOLE   2,149,700 0 0
WCF BANCORP INC COM 92940L103 416 43,700 SH   SOLE   43,700 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 3,314 304,000 SH   SOLE   304,000 0 0
XENITH BANKSHARES INC NEW COM NEW 984102202 1,905 56,300 SH   SOLE   56,300 0 0