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
AIR LEASE CORP CL A 00912X302 255 5,600 SH   SOLE   5,600 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 2,278 54,700 SH   SOLE   54,700 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 225 10,300 SH   SOLE   10,300 0 0
AMERIS BANCORP COM 03076K108 4,379 95,900 SH   SOLE   95,900 0 0
APOLLO INVT CORP COM 03761U106 240 44,100 SH   SOLE   44,100 0 0
ARES MGMT LP COM SHS REG INT 04014Y101 293 12,700 SH   SOLE   12,700 0 0
ASSURANT INC COM 04621X108 236 2,200 SH   SOLE   2,200 0 0
ASSURED GUARANTY LTD COM G0585R106 242 5,800 SH   SOLE   5,800 0 0
ATLAS FINANCIAL HOLDINGS INC SHS NEW G06207115 158 15,700 SH   SOLE   15,700 0 0
BANK7 CORP COM 06652N107 6,738 350,000 SH   SOLE   350,000 0 0
BAYCOM CORP COM 07272M107 11,602 434,900 SH   SOLE   434,900 0 0
BGC PARTNERS INC CL A 05541T101 280 23,700 SH   SOLE   23,700 0 0
BLACKROCK CAPITAL INVESTMENT COM 092533108 216 36,700 SH   SOLE   36,700 0 0
BLACKROCK TCP CAP CORP COM 09259E108 192 13,500 SH   SOLE   13,500 0 0
BRYN MAWR BK CORP COM 117665109 1,892 40,400 SH   SOLE   40,400 0 0
BSB BANCORP INC MD COM 05573H108 10,556 323,800 SH   SOLE   323,800 0 0
BYLINE BANCORP INC COM 124411109 6,464 284,800 SH   SOLE   284,800 0 0
CAPITAL BANCORP INC MD COM 139737100 3,498 275,000 SH   SOLE   275,000 0 0
CBTX INC COM 12481V104 6,349 178,700 SH   SOLE   178,700 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 11,502 821,600 SH   SOLE   821,600 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 4,549 188,900 SH   SOLE   188,900 0 0
COASTAL FINL CORP WA COM NEW 19046P209 3,686 216,900 SH   SOLE   216,900 0 0
CODORUS VY BANCORP INC COM 192025104 4,428 141,800 SH   SOLE   141,800 0 0
CVB FINL CORP COM 126600105 3,031 135,800 SH   SOLE   135,800 0 0
DNB FINL CORP COM 233237106 3,432 93,000 SH   SOLE   93,000 0 0
ELLINGTON FINANCIAL LLC COM 288522303 270 16,900 SH   SOLE   16,900 0 0
ELLINGTON RESIDENTIAL MTG RE COM SHS BEN INT 288578107 181 16,100 SH   SOLE   16,100 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 29,046 739,900 SH   SOLE   739,900 0 0
ESSENT GROUP LTD COM G3198U102 256 5,800 SH   SOLE   5,800 0 0
EVANS BANCORP INC COM NEW 29911Q208 12,020 256,000 SH   SOLE   256,000 0 0
EXANTAS CAP CORP COM NEW 30068N105 235 21,400 SH   SOLE   21,400 0 0
FFBW INC COM 30258M107 284 25,000 SH   SOLE   25,000 0 0
FIFTH THIRD BANCORP COM 316773100 242 8,700 SH   SOLE   8,700 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 18,598 1,414,300 SH   SOLE   1,414,300 0 0
FIRST FINL BANCORP OH COM 320209109 1,369 46,100 SH   SOLE   46,100 0 0
FIRST FNDTN INC COM 32026V104 1,439 92,200 SH   SOLE   92,200 0 0
FIRST INTERNET BANCORP COM 320557101 7,705 253,100 SH   SOLE   253,100 0 0
FIRST MID ILL BANCSHARES INC COM 320866106 3,072 76,200 SH   SOLE   76,200 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 9,463 138,600 SH   SOLE   138,600 0 0
FIRST WESTN FINL INC COM 33751L105 5,510 315,000 SH   SOLE   315,000 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 4,735 150,500 SH   SOLE   150,500 0 0
FVCBANKCORP INC COM 36120Q101 4,215 212,900 SH   SOLE   212,900 0 0
GREAT AJAX CORP COM 38983D300 300 22,000 SH   SOLE   22,000 0 0
GREEN BANCORP INC COM 39260X100 2,542 115,000 SH   SOLE   115,000 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 29,622 997,400 SH   SOLE   997,400 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 9,872 411,400 SH   SOLE   411,400 0 0
HAWTHORN BANCSHARES INC COM 420476103 563 24,800 SH   SOLE   24,800 0 0
HERCULES CAPITAL INC COM 427096508 192 14,600 SH   SOLE   14,600 0 0
HILLTOP HOLDINGS INC COM 432748101 1,412 70,000 SH   SOLE   70,000 0 0
HOME BANCORP INC COM 43689E107 34,878 802,200 SH   SOLE   802,200 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 4,143 121,500 SH   SOLE   121,500 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 7,459 556,600 SH   SOLE   556,600 0 0
HOPFED BANCORP INC COM 439734104 6,713 383,600 SH   SOLE   383,600 0 0
HUNTINGTON BANCSHARES INC COM 446150104 225 15,100 SH   SOLE   15,100 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 9,873 417,500 SH   SOLE   417,500 0 0
INDEPENDENT BK GROUP INC COM 45384B106 16,885 254,700 SH   SOLE   254,700 0 0
INVESTAR HLDG CORP COM 46134L105 14,849 553,100 SH   SOLE   553,100 0 0
INVESTORS BANCORP INC NEW COM 46146L101 32,744 2,668,600 SH   SOLE   2,668,600 0 0
LEVEL ONE BANCORP INC COM 52730D208 8,684 312,400 SH   SOLE   312,400 0 0
LUTHER BURBANK CORP COM 550550107 9,017 828,700 SH   SOLE   828,700 0 0
M & T BK CORP COM 55261F104 313 2,000 SH   SOLE   2,000 0 0
MACKINAC FINL CORP COM 554571109 7,872 485,900 SH   SOLE   485,900 0 0
MALVERN BANCORP INC COM 561409103 15,642 653,100 SH   SOLE   653,100 0 0
MBT FINL CORP COM 578877102 4,926 435,900 SH   SOLE   435,900 0 0
MERIDIAN CORPORATION COM 58958P104 4,416 256,800 SH   SOLE   256,800 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 22,335 695,800 SH   SOLE   695,800 0 0
MIDSOUTH BANCORP INC COM 598039105 12,242 795,000 SH   SOLE   795,000 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 10,842 325,500 SH   SOLE   325,500 0 0
MUTUALFIRST FINL INC COM 62845B104 9,688 262,900 SH   SOLE   262,900 0 0
NATIONAL BK HLDGS CORP CL A 633707104 25,293 671,800 SH   SOLE   671,800 0 0
NAVIENT CORPORATION COM 63938C108 218 16,200 SH   SOLE   16,200 0 0
NEW MTN FIN CORP COM 647551100 189 14,000 SH   SOLE   14,000 0 0
OCEANFIRST FINL CORP COM 675234108 48,254 1,772,800 SH   SOLE   1,772,800 0 0
OLD NATL BANCORP IND COM 680033107 8,665 449,000 SH   SOLE   449,000 0 0
OLD POINT FINL CORP COM 680194107 9,674 323,600 SH   SOLE   323,600 0 0
OLD SECOND BANCORP INC ILL COM 680277100 9,086 588,100 SH   SOLE   588,100 0 0
ONEMAIN HLDGS INC COM 68268W103 241 7,200 SH   SOLE   7,200 0 0
OTTAWA BANCORP INC COM 689195105 1,341 96,800 SH   SOLE   96,800 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 11,113 1,251,100 SH   SOLE   1,251,100 0 0
PACIFIC PREMIER BANCORP COM 69478X105 31,888 857,200 SH   SOLE   857,200 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 48,337 803,600 SH   SOLE   803,600 0 0
PROVIDENT BANCORP INC COM 74383X109 12,526 432,700 SH   SOLE   432,700 0 0
RBB BANCORP COM 74930B105 24,408 996,300 SH   SOLE   996,300 0 0
RELIANT BANCORP INC COM 75956B101 2,222 86,900 SH   SOLE   86,900 0 0
RIVERVIEW BANCORP INC COM 769397100 12,479 1,411,600 SH   SOLE   1,411,600 0 0
SB FINL GROUP INC COM 78408D105 3,539 173,900 SH   SOLE   173,900 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 5,577 191,000 SH   SOLE   191,000 0 0
SHORE BANCSHARES INC COM 825107105 5,370 301,400 SH   SOLE   301,400 0 0
SOUND FINL BANCORP INC COM 83607A100 5,563 140,700 SH   SOLE   140,700 0 0
SOUTHERN MO BANCORP INC COM 843380106 25,466 683,300 SH   SOLE   683,300 0 0
SPIRIT OF TEX BANCSHARES INC COM 84861D103 11,958 553,900 SH   SOLE   553,900 0 0
STERLING BANCORP DEL COM 85917A100 7,102 322,800 SH   SOLE   322,800 0 0
TRISTATE CAP HLDGS INC COM 89678F100 860 31,200 SH   SOLE   31,200 0 0
TRIUMPH BANCORP INC COM 89679E300 955 25,000 SH   SOLE   25,000 0 0
UNION BANKSHARES CORP NEW COM 90539J109 13,540 351,400 SH   SOLE   351,400 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 18,866 1,951,000 SH   SOLE   1,951,000 0 0
UNITED FINL BANCORP INC NEW COM 910304104 14,065 835,700 SH   SOLE   835,700 0 0
UNITED SECURITY BANCSHARES C COM 911460103 2,353 212,000 SH   SOLE   212,000 0 0
UNIVEST CORP PA COM 915271100 3,767 142,400 SH   SOLE   142,400 0 0
VERITEX HLDGS INC COM 923451108 67,259 2,380,000 SH   SOLE   2,380,000 0 0
VOYA FINL INC COM 929089100 262 5,300 SH   SOLE   5,300 0 0
WCF BANCORP INC COM 92940L103 409 43,700 SH   SOLE   43,700 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 2,926 270,900 SH   SOLE   270,900 0 0
WHITEHORSE FIN INC COM 96524V106 238 17,100 SH   SOLE   17,100 0 0
ZIONS BANCORPORATION COM 989701107 241 4,900 SH   SOLE   4,900 0 0