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
1ST CONSTITUTION BANCORP COM 31986N102 1,675 77,006 SH   SOLE   77,006 0 0
ACCESS NATL CORP COM 004337101 1,461 51,203 SH   SOLE   51,203 0 0
ACNB CORP COM 000868109 448 15,315 SH   SOLE   15,315 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 416 10,614 SH   SOLE   10,614 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 337 8,951 SH   SOLE   8,951 0 0
AMERICAN RIVER BANKSHARES COM 029326105 334 21,564 SH   SOLE   21,564 0 0
AMERISERV FINL INC COM 03074A102 2,598 649,384 SH   SOLE   649,384 0 0
ANCHOR BANCORP WA COM 032838104 6,108 247,208 SH   SOLE   247,208 0 0
ATLANTIC COAST FINL CORP COM 048426100 1,608 156,064 SH   SOLE   156,064 0 0
AUBURN NATL BANCORP COM 050473107 307 7,860 SH   SOLE   7,860 0 0
BANCFIRST CORP COM 05945F103 898 16,912 SH   SOLE   16,912 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 514 30,897 SH   SOLE   30,897 0 0
BANK COMM HLDGS COM 06424J103 1,310 112,757 SH   SOLE   112,757 0 0
BANK OF MARIN BANCORP COM 063425102 718 10,409 SH   SOLE   10,409 0 0
BANK PRINCETON NEW JERSEY COM 064520109 1,386 40,160 SH   SOLE   40,160 0 0
BANKUNITED INC COM 06652K103 13,591 339,957 SH   SOLE   339,957 0 0
BANKWELL FINL GROUP INC COM 06654A103 963 29,845 SH   SOLE   29,845 0 0
BANNER CORP COM NEW 06652V208 6,761 121,845 SH   SOLE   121,845 0 0
BAY BANCORP INC COM 07203T106 13,961 1,045,786 SH   SOLE   1,045,786 0 0
BRIDGE BANCORP INC COM 108035106 208 6,200 SH   SOLE   6,200 0 0
C & F FINL CORP COM 12466Q104 1,877 35,687 SH   SOLE   35,687 0 0
CENTRAL FED CORP COM NEW 15346Q202 679 292,505 SH   SOLE   292,505 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 2,878 147,136 SH   SOLE   147,136 0 0
CHARTER FINL CORP MD COM 16122W108 3,683 180,629 SH   SOLE   180,629 0 0
CODORUS VY BANCORP INC COM 192025104 957 34,043 SH   SOLE   34,043 0 0
COLONY BANKCORP INC COM 19623P101 189 11,120 SH   SOLE   11,120 0 0
COMMUNITY BANKERS TR CORP COM 203612106 419 46,544 SH   SOLE   46,544 0 0
COMMUNITY TR BANCORP INC COM 204149108 557 12,330 SH   SOLE   12,330 0 0
COMMUNITY WEST BANCSHARES COM 204157101 676 59,539 SH   SOLE   59,539 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 298 10,330 SH   SOLE   10,330 0 0
COUNTY BANCORP INC COM 221907108 1,963 67,213 SH   SOLE   67,213 0 0
CUSTOMERS BANCORP INC COM 23204G100 9,331 320,095 SH   SOLE   320,095 0 0
DIME CMNTY BANCSHARES COM 253922108 7,886 428,595 SH   SOLE   428,595 0 0
EAGLE BANCORP MONT INC COM 26942G100 457 22,016 SH   SOLE   22,016 0 0
ENTEGRA FINL CORP COM 29363J108 732 25,234 SH   SOLE   25,234 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 1,150 32,589 SH   SOLE   32,589 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 5,786 250,808 SH   SOLE   250,808 0 0
FIFTH THIRD BANCORP COM 316773100 1,309 41,235 SH   SOLE   41,235 0 0
FINANCIAL INSTNS INC COM 317585404 2,464 83,230 SH   SOLE   83,230 0 0
FIRST BANCORP N C COM 318910106 2,879 80,747 SH   SOLE   80,747 0 0
FIRST BUSEY CORP COM NEW 319383204 572 19,255 SH   SOLE   19,255 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 1,257 49,953 SH   SOLE   49,953 0 0
FIRST DEFIANCE FINL CORP COM 32006W106 360 6,286 SH   SOLE   6,286 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 3,087 184,302 SH   SOLE   184,302 0 0
FIRST FINL CORP IND COM 320218100 1,528 36,722 SH   SOLE   36,722 0 0
FIRST GTY BANCSHARES INC COM 32043P106 1,168 44,937 SH   SOLE   44,937 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 1,786 45,156 SH   SOLE   45,156 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,307 77,355 SH   SOLE   77,355 0 0
FIRST US BANCSHARES INC COM 33744V103 1,164 101,738 SH   SOLE   101,738 0 0
FLUSHING FINL CORP COM 343873105 1,888 70,024 SH   SOLE   70,024 0 0
FNB CORP PA COM 302520101 2,360 64,149 SH   SOLE   64,149 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 15,689 481,188 SH   SOLE   481,188 0 0
FS BANCORP INC COM 30263Y104 2,567 47,979 SH   SOLE   47,979 0 0
GLEN BURNIE BANCORP COM 377407101 558 46,116 SH   SOLE   46,116 0 0
GREAT SOUTHN BANCORP INC COM 390905107 2,657 53,186 SH   SOLE   53,186 0 0
GREEN BANCORP INC COM 39260X100 5,209 234,134 SH   SOLE   234,134 0 0
HAMILTON BANCORP INC MD COM 407015106 1,255 88,051 SH   SOLE   88,051 0 0
HANMI FINL CORP COM NEW 410495204 366 11,900 SH   SOLE   11,900 0 0
HAWTHORN BANCSHARES INC COM 420476103 335 16,120 SH   SOLE   16,120 0 0
HEARTLAND FINL USA INC COM 42234Q102 1,512 28,496 SH   SOLE   28,496 0 0
HERITAGE COMMERCE CORP COM 426927109 1,468 89,097 SH   SOLE   89,097 0 0
HILLTOP HOLDINGS INC COM 432748101 13,232 564,866 SH   SOLE   564,866 0 0
HMN FINL INC COM 40424G108 1,055 56,856 SH   SOLE   56,856 0 0
HOME BANCORP INC COM 43689E107 1,031 23,884 SH   SOLE   23,884 0 0
HOMESTREET INC COM 43785V102 8,747 305,306 SH   SOLE   305,306 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 264 22,104 SH   SOLE   22,104 0 0
HOMETRUST BANCSHARES INC COM 437872104 1,311 50,345 SH   SOLE   50,345 0 0
HOPE BANCORP INC COM 43940T109 6,491 356,846 SH   SOLE   356,846 0 0
HOWARD BANCORP INC COM 442496105 627 31,658 SH   SOLE   31,658 0 0
IBERIABANK CORP COM 450828108 9,079 116,397 SH   SOLE   116,397 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 11,833 304,189 SH   SOLE   304,189 0 0
MID PENN BANCORP INC COM 59540G107 967 30,278 SH   SOLE   30,278 0 0
NATIONAL BK HLDGS CORP CL A 633707104 2,620 78,795 SH   SOLE   78,795 0 0
NORTHEAST BANCORP COM NEW 663904209 6,463 315,276 SH   SOLE   315,276 0 0
NORTHERN TR CORP COM 665859104 503 4,879 SH   SOLE   4,879 0 0
NORWOOD FINANCIAL CORP COM 669549107 276 9,184 SH   SOLE   9,184 0 0
OP BANCORP COM 67109R109 1,565 125,715 SH   SOLE   125,715 0 0
OPUS BK IRVINE CALIF COM 684000102 4,354 155,493 SH   SOLE   155,493 0 0
ORITANI FINL CORP DEL COM 68633D103 8,081 526,446 SH   SOLE   526,446 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 1,627 170,395 SH   SOLE   170,395 0 0
PACIFIC PREMIER BANCORP COM 69478X105 1,062 26,407 SH   SOLE   26,407 0 0
PACWEST BANCORP DEL COM 695263103 9,777 197,392 SH   SOLE   197,392 0 0
PARKE BANCORP INC COM 700885106 2,412 115,948 SH   SOLE   115,948 0 0
PEOPLES BANCORP INC COM 709789101 662 18,687 SH   SOLE   18,687 0 0
PEOPLES UTAH BANCORP COM 712706209 1,372 42,480 SH   SOLE   42,480 0 0
PLUMAS BANCORP COM 729273102 1,074 43,148 SH   SOLE   43,148 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 3,900 60,753 SH   SOLE   60,753 0 0
PREMIER FINL BANCORP INC COM 74050M105 1,624 87,250 SH   SOLE   87,250 0 0
QCR HOLDINGS INC COM 74727A104 1,621 36,145 SH   SOLE   36,145 0 0
RIVERVIEW BANCORP INC COM 769397100 365 39,082 SH   SOLE   39,082 0 0
SANDY SPRING BANCORP INC COM 800363103 2,608 67,297 SH   SOLE   67,297 0 0
SB FINL GROUP INC COM 78408D105 1,214 65,582 SH   SOLE   65,582 0 0
SELECT BANCORP INC NEW COM 81617L108 3,779 282,849 SH   SOLE   282,849 0 0
SHORE BANCSHARES INC COM 825107105 3,000 159,060 SH   SOLE   159,060 0 0
SIERRA BANCORP COM 82620P102 2,363 88,710 SH   SOLE   88,710 0 0
SMARTFINANCIAL INC COM NEW 83190L208 1,526 64,878 SH   SOLE   64,878 0 0
SOUND FINL BANCORP INC COM 83607A100 2,174 59,165 SH   SOLE   59,165 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 2,420 152,753 SH   SOLE   152,753 0 0
STATE BK FINL CORP COM 856190103 7,216 240,452 SH   SOLE   240,452 0 0
STEWARDSHIP FINL CORP COM 860326107 658 59,860 SH   SOLE   59,860 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 940 37,586 SH   SOLE   37,586 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 1,700 126,128 SH   SOLE   126,128 0 0
TIMBERLAND BANCORP INC COM 887098101 2,436 80,116 SH   SOLE   80,116 0 0
TRUSTCO BK CORP N Y COM 898349105 2,288 270,785 SH   SOLE   270,785 0 0
UMPQUA HLDGS CORP COM 904214103 3,405 159,037 SH   SOLE   159,037 0 0
UNITED BANCSHARES INC OHIO COM 909458101 342 15,555 SH   SOLE   15,555 0 0
UNITED BANKSHARES INC WEST V COM 909907107 380 10,785 SH   SOLE   10,785 0 0
UNITED SECURITY BANCSHARES C COM 911460103 1,733 161,215 SH   SOLE   161,215 0 0
WATERSTONE FINL INC MD COM 94188P101 4,680 270,517 SH   SOLE   270,517 0 0
WINTRUST FINL CORP COM 97650W108 3,973 46,170 SH   SOLE   46,170 0 0
WVS FINL CORP COM 929358109 1,051 64,331 SH   SOLE   64,331 0 0