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 3,334 62,500 SH   SOLE   62,500 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 1,353 76,453 SH   SOLE   76,453 0 0
BANK OF THE OZARKS COM 063904106 1,982 44,000 SH   SOLE   44,000 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 540 32,645 SH   SOLE   32,645 0 0
BOFI HLDG INC COM 05566U108 1,465 35,800 SH   SOLE   35,800 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 1,590 125,000 SH   SOLE   125,000 0 0
CADENCE BANCORPORATION CL A 12739A100 1,054 36,500 SH   SOLE   36,500 0 0
CAROLINA FINL CORP NEW COM 143873107 3,673 85,581 SH   SOLE   85,581 0 0
CENTERSTATE BK CORP COM 15201P109 8,180 274,300 SH   SOLE   274,300 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 616 29,100 SH   SOLE   29,100 0 0
CITIZENS FIRST CORP COM 17462Q107 2,519 95,789 SH   SOLE   95,789 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,700 301,697 SH   SOLE   301,697 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 2,926 117,500 SH   SOLE   117,500 0 0
EAST WEST BANCORP INC COM 27579R104 3,814 58,500 SH   SOLE   58,500 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 5,526 102,436 SH   SOLE   102,436 0 0
FB FINL CORP COM 30257X104 102 2,500 SH   SOLE   2,500 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 1,781 68,500 SH   SOLE   68,500 0 0
FIRST FINL BANCORP OH COM 320209109 211 6,870 SH   SOLE   6,870 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 1,016 24,075 SH   SOLE   24,075 0 0
FLAGSTAR BANCORP PAR .001 COM PAR .001 337930705 325 9,500 SH   SOLE   9,500 0 0
FS BANCORP INC COM 30263Y104 785 12,406 SH   SOLE   12,406 0 0
GREAT WESTN BANCORP INC COM 391416104 1,176 28,000 SH   SOLE   28,000 0 0
GREEN BANCORP INC COM 39260X100 2,864 132,600 SH   SOLE   132,600 0 0
HAWTHORN BANCSHARES INC COM 420476103 2,278 104,000 SH   SOLE   104,000 0 0
HILLTOP HOLDINGS INC COM 432748101 706 32,000 SH   SOLE   32,000 0 0
HMN FINL INC COM 40424G108 3,795 188,800 SH   SOLE   188,800 0 0
HOME BANCSHARES INC COM 436893200 2,122 94,077 SH   SOLE   94,077 0 0
INDEPENDENT BK GROUP INC COM 45384B106 3,035 45,432 SH   SOLE   45,432 0 0
INVESTAR HLDG CORP COM 46134L105 4,617 166,994 SH   SOLE   166,994 0 0
JPMORGAN CHASE & CO COM 46625H100 261 2,500 SH   SOLE   2,500 0 0
LAKELAND BANCORP INC COM 511637100 2,422 122,000 SH   SOLE   122,000 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 1,600 41,000 SH   SOLE   41,000 0 0
LEVEL ONE BANCORP COM 52730D208 103 3,803 SH   SOLE   3,803 0 0
MERIDIAN BK PAOLI PA COM 58958P104 455 25,000 SH   SOLE   25,000 0 0
MID PENN BANCORP INC COM 59540G107 1,393 39,927 SH   SOLE   39,927 0 0
PACWEST BANCORP DEL COM 695263103 4,295 86,900 SH   SOLE   86,900 0 0
PATRIOT NATL BANCORP INC COM NEW 70336F203 1,033 51,500 SH   SOLE   51,500 0 0
PEOPLES BANCORP N C INC COM 710577107 3,081 96,200 SH   SOLE   96,200 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,203 35,912 SH   SOLE   35,912 0 0
PLUMAS BANCORP COM 729273102 2,347 83,217 SH   SOLE   83,217 0 0
RENASANT CORP COM 75970E107 2,381 52,300 SH   SOLE   52,300 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 3,789 90,800 SH   SOLE   90,800 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 7,270 164,473 SH   SOLE   164,473 0 0
SOUTHERN MO BANCORP INC COM 843380106 1,978 50,700 SH   SOLE   50,700 0 0
STERLING BANCORP INC COM 85917W102 2,021 151,300 SH   SOLE   151,300 0 0
STEWARDSHIP FINL CORP COM 860326107 760 65,200 SH   SOLE   65,200 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 2,614 97,400 SH   SOLE   97,400 0 0
SVB FINL GROUP COM 78486Q101 4,100 14,200 SH   SOLE   14,200 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1,556 17,000 SH   SOLE   17,000 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 5,194 161,800 SH   SOLE   161,800 0 0
UNIVEST CORP PA COM 915271100 1,394 50,700 SH   SOLE   50,700 0 0
VERITEX HLDGS INC COM 923451108 4,319 139,000 SH   SOLE   139,000 0 0
VILLAGE BK & TR FINANCIAL CO COM NEW 92705T200 147 4,309 SH   SOLE   4,309 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,755 31,000 SH   SOLE   31,000 0 0
ZIONS BANCORPORATION COM 989701107 1,686 32,000 SH   SOLE   32,000 0 0