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
ALLEGIANCE BANCSHARES INC COM 01748H107 2,891 69,320 SH   SOLE NONE 24,690 0 44,630
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 2,941 85,116 SH   SOLE NONE 85,116 0 0
AMERICAN EXPRESS CO COM 025816109 11,727 110,125 SH   SOLE NONE 11,743 0 98,382
BUSINESS FIRST BANCSHARES IN COM 12326C105 13,304 501,082 SH   SOLE NONE 501,082 0 0
BLACKROCK INC COM 09247X101 10,284 21,819 SH   SOLE NONE 2,161 0 19,658
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 17,197 1,320,842 SH   SOLE NONE 1,320,842 0 0
BYLINE BANCORP INC COM 124411109 25,713 1,132,746 SH   SOLE NONE 787,541 0 345,205
COASTAL FINL CORP WA COM NEW 19046P209 2,294 134,930 SH   SOLE NONE 134,930 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 19,120 805,066 SH   SOLE NONE 523,154 0 281,912
CAPITAL ONE FINL CORP COM 14040H105 5,696 59,999 SH   SOLE NONE 7,917 0 52,082
CYRUSONE INC COM 23283R100 9,510 150,000 SH   SOLE NONE 25,127 0 124,873
CENTERSTATE BK CORP COM 15201P109 14,459 515,457 SH   SOLE NONE 53,634 0 461,823
CVB FINL CORP COM 126600105 32,728 1,466,317 SH   SOLE NONE 1,466,317 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 2,817 53,098 SH   SOLE NONE 8,949 0 44,149
EAGLE BANCORP INC MD COM 268948106 12,015 237,446 SH   SOLE NONE 39,552 0 197,894
FGL HLDGS ORD SHS G3402M102 16,781 1,874,970 SH   SOLE NONE 330,390 0 1,544,580
FIRST MID ILL BANCSHARES INC COM 320866106 2,529 62,719 SH   SOLE NONE 62,719 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 24,076 905,460 SH   SOLE NONE 387,829 0 517,631
FVCBANKCORP INC COM 36120Q101 7,664 387,094 SH   SOLE NONE 387,094 0 0
HOULIHAN LOKEY INC CL A 441593100 4,935 109,845 SH   SOLE NONE 23,106 0 86,739
HAWTHORN BANCSHARES INC COM 420476103 10,053 441,879 SH   SOLE NONE 441,879 0 0
INTERXION HOLDING N.V SHS N47279109 9,852 146,387 SH   SOLE NONE 24,808 0 121,579
INVESTORS REAL ESTATE TR SH BEN INT 461730103 11,236 1,878,912 SH   SOLE NONE 463,008 0 1,415,904
JPMORGAN CHASE & CO COM 46625H100 16,765 148,576 SH   SOLE NONE 5,330 0 143,246
KKR & CO INC CL A 48251W104 2,314 84,868 SH   SOLE NONE 27,253 0 57,615
LEVEL ONE BANCORP INC COM 52730D208 7,289 262,181 SH   SOLE NONE 262,181 0 0
MERCHANTS BANCORP IND COM 58844R108 1,838 72,312 SH   SOLE NONE 59,676 0 12,636
MIDLAND STS BANCORP INC ILL COM 597742105 40,242 1,253,632 SH   SOLE NONE 921,362 0 332,270
MVB FINANCIAL CORP COM 553810102 3,735 207,267 SH   SOLE NONE 207,267 0 0
NORTHERN TR CORP COM 665859104 5,124 50,175 SH   SOLE NONE 0 0 50,175
NEW YORK CMNTY BANCORP INC COM 649445103 3,309 319,084 SH   SOLE NONE 319,084 0 0
ORIGIN BANCORP INC COM 68621T102 12,914 343,010 SH   SOLE NONE 343,010 0 0
OCEANFIRST FINL CORP COM 675234108 26,655 979,231 SH   SOLE NONE 313,731 0 665,500
OLD LINE BANCSHARES INC COM 67984M100 3,544 112,022 SH   SOLE NONE 112,022 0 0
OPUS BK IRVINE CALIF COM 684000102 23,395 853,831 SH   SOLE NONE 388,839 0 464,992
ORRSTOWN FINL SVCS INC COM 687380105 6,616 277,976 SH   SOLE NONE 277,976 0 0
PACWEST BANCORP DEL COM 695263103 21,355 448,154 SH   SOLE NONE 64,046 0 384,108
PACIFIC MERCANTILE BANCORP COM 694552100 20,253 2,166,085 SH   SOLE NONE 2,166,085 0 0
PNC FINL SVCS GROUP INC COM 693475105 21,293 156,349 SH   SOLE NONE 8,093 0 148,256
QCR HOLDINGS INC COM 74727A104 23,285 570,017 SH   SOLE NONE 326,039 0 243,978
SIGNATURE BK NEW YORK N Y COM 82669G104 40,096 349,145 SH   SOLE NONE 158,468 0 190,677
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 6,168 209,453 SH   SOLE NONE 33,622 0 175,831
SVB FINL GROUP COM 78486Q101 7,051 22,683 SH   SOLE NONE 3,908 0 18,775
SUNTRUST BKS INC COM 867914103 22,198 332,350 SH   SOLE NONE 30,143 0 302,207
STERLING BANCORP DEL COM 85917A100 12,073 548,774 SH   SOLE NONE 92,556 0 456,218
SPIRIT OF TEX BANCSHARES INC COM 84861D103 6,454 298,954 SH   SOLE NONE 298,954 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 3,654 118,454 SH   SOLE NONE 0 0 118,454
UMPQUA HLDGS CORP COM 904214103 9,159 440,356 SH   SOLE NONE 75,078 0 365,278
UNIVEST CORP PA COM 915271100 25,025 946,128 SH   SOLE NONE 420,502 0 525,626
VERITEX HLDGS INC COM 923451108 32,330 1,144,005 SH   SOLE NONE 499,601 0 644,404
WESTERN ALLIANCE BANCORP COM 957638109 6,314 110,982 SH   SOLE NONE 19,015 0 91,967
WORLDPAY INC CL A 981558109 9,946 98,215 SH   SOLE NONE 14,703 0 83,512
WSFS FINL CORP COM 929328102 9,905 210,083 SH   SOLE NONE 35,330 0 174,753
ZIONS BANCORPORATION COM 989701107 24,000 478,561 SH   SOLE NONE 76,339 0 402,222