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 3,306 62,500 SH   SOLE   62,500 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 1,273 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 2,124 44,000 SH   SOLE   44,000 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 772 50,469 SH   SOLE   50,469 0 0
BOFI HLDG INC COM 05566U108 2,027 50,000 SH   SOLE   50,000 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 1,634 125,000 SH   SOLE   125,000 0 0
CADENCE BANCORPORATION CL A 12739A100 790 29,000 SH   SOLE   29,000 0 0
CAROLINA FINL CORP NEW COM 143873107 3,362 85,581 SH   SOLE   85,581 0 0
CENTERSTATE BK CORP COM 15201P109 7,428 280,000 SH   SOLE   280,000 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 569 29,100 SH   SOLE   29,100 0 0
CITIZENS FIRST CORP COM 17462Q107 2,442 96,104 SH   SOLE   96,104 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,756 306,277 SH   SOLE   306,277 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 5,270 183,000 SH   SOLE   183,000 0 0
EAST WEST BANCORP INC COM 27579R104 3,690 59,000 SH   SOLE   59,000 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 4,743 101,136 SH   SOLE   101,136 0 0
FB FINL CORP COM 30257X104 101 2,500 SH   SOLE   2,500 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 1,472 58,500 SH   SOLE   58,500 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 645 16,310 SH   SOLE   16,310 0 0
FS BANCORP INC COM 30263Y104 664 12,406 SH   SOLE   12,406 0 0
GREAT WESTN BANCORP INC COM 391416104 1,107 27,500 SH   SOLE   27,500 0 0
GREEN BANCORP INC COM 39260X100 2,950 132,600 SH   SOLE   132,600 0 0
HAWTHORN BANCSHARES INC COM 420476103 2,547 123,400 SH   SOLE   123,400 0 0
HILLTOP HOLDINGS INC COM 432748101 751 32,000 SH   SOLE   32,000 0 0
HMN FINL INC COM 40424G108 3,502 188,800 SH   SOLE   188,800 0 0
HOME BANCSHARES INC COM 436893200 2,146 94,077 SH   SOLE   94,077 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 179 15,000 SH   SOLE   15,000 0 0
INDEPENDENT BK GROUP INC COM 45384B106 3,212 45,432 SH   SOLE   45,432 0 0
INVESTAR HLDG CORP COM 46134L105 4,317 166,994 SH   SOLE   166,994 0 0
JPMORGAN CHASE & CO COM 46625H100 275 2,500 SH   SOLE   2,500 0 0
LAKELAND BANCORP INC COM 511637100 3,097 156,000 SH   SOLE   156,000 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 1,756 41,000 SH   SOLE   41,000 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 201 4,952 SH   SOLE   4,952 0 0
MERIDIAN BK PAOLI PA COM 58958P104 442 25,000 SH   SOLE   25,000 0 0
MID PENN BANCORP INC COM 59540G107 1,757 55,000 SH   SOLE   55,000 0 0
OP BANCORP COM 67109R109 50 4,000 SH   SOLE   4,000 0 0
PACWEST BANCORP DEL COM 695263103 4,235 85,500 SH   SOLE   85,500 0 0
PATRIOT NATL BANCORP INC COM NEW 70336F203 999 51,500 SH   SOLE   51,500 0 0
PEOPLES BANCORP N C INC COM 710577107 2,976 96,885 SH   SOLE   96,885 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,306 35,912 SH   SOLE   35,912 0 0
PLUMAS BANCORP COM 729273102 2,029 81,500 SH   SOLE   81,500 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 15 843 SH   SOLE   843 0 0
RENASANT CORP COM 75970E107 2,226 52,300 SH   SOLE   52,300 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 3,706 90,800 SH   SOLE   90,800 0 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 742 103,120 SH   SOLE   103,120 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 7,497 168,477 SH   SOLE   168,477 0 0
SOUTHERN MO BANCORP INC COM 843380106 2,349 64,190 SH   SOLE   64,190 0 0
STERLING BANCORP INC COM 85917W102 1,752 129,700 SH   SOLE   129,700 0 0
STEWARDSHIP FINL CORP COM 860326107 717 65,200 SH   SOLE   65,200 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 2,436 97,400 SH   SOLE   97,400 0 0
SVB FINL GROUP COM 78486Q101 3,408 14,200 SH   SOLE   14,200 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1,528 17,000 SH   SOLE   17,000 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 5,054 176,700 SH   SOLE   176,700 0 0
UNIVEST CORP PA COM 915271100 2,360 85,200 SH   SOLE   85,200 0 0
VERITEX HLDGS INC COM 923451108 4,156 150,200 SH   SOLE   150,200 0 0
VILLAGE BK & TR FINANCIAL CO COM NEW 92705T200 142 4,309 SH   SOLE   4,309 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,116 19,200 SH   SOLE   19,200 0 0
ZIONS BANCORPORATION COM 989701107 1,909 36,200 SH   SOLE   36,200 0 0