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 1,945 61,400 SH   SOLE   61,400 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 481 36,942 SH   SOLE   36,942 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 522 40,168 SH   SOLE   40,168 0 0
BOK FINL COM NEW 05561Q201 286 3,900 SH   SOLE   3,900 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 900 85,300 SH   SOLE   85,300 0 0
CADENCE BANCORPORATION CL A 12739A100 1,371 81,700 SH   SOLE   81,700 0 0
CAPSTAR FINL HLDGS COM 14070T102 7 500 SH   SOLE   500 0 0
CAROLINA FINL CORP NEW COM 143873107 2,344 79,200 SH   SOLE   79,200 0 0
CENTERSTATE BK CORP COM 15201P109 5,479 260,400 SH   SOLE   260,400 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 482 25,550 SH   SOLE   25,550 0 0
CITIZENS FIRST CORP COM 17462Q107 2,038 95,100 SH   SOLE   95,100 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,162 299,428 SH   SOLE   299,428 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 1,276 69,100 SH   SOLE   69,100 0 0
EAST WEST BANCORP INC COM 27579R104 2,547 58,500 SH   SOLE   58,500 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 3,740 99,400 SH   SOLE   99,400 0 0
FB FINL CORP COM 30257X104 88 2,500 SH   SOLE   2,500 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 835 42,800 SH   SOLE   42,800 0 0
FIRST FINL BANCORP OH COM 320209109 163 6,870 SH   SOLE   6,870 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 2,974 81,351 SH   SOLE   81,351 0 0
FS BANCORP INC COM 30263Y104 521 12,156 SH   SOLE   12,156 0 0
GREAT WESTN BANCORP INC COM 391416104 859 27,500 SH   SOLE   27,500 0 0
GREEN BANCORP INC COM 39260X100 2,177 127,000 SH   SOLE   127,000 0 0
HAWTHORN BANCSHARES INC COM 420476103 1,896 90,155 SH   SOLE   90,155 0 0
HMN FINL INC COM 40424G108 3,359 171,216 SH   SOLE   171,216 0 0
HOME BANCSHARES INC COM 436893200 1,524 93,272 SH   SOLE   93,272 0 0
INDEPENDENT BK GROUP INC COM 45384B106 1,639 35,800 SH   SOLE   35,800 0 0
JPMORGAN CHASE & CO COM 46625H100 244 2,500 SH   SOLE   2,500 0 0
LAKELAND BANCORP INC COM 511637100 662 44,691 SH   SOLE   44,691 0 0
LEGACY TEX FINL GROUP INC COM 52471Y106 870 27,100 SH   SOLE   27,100 0 0
MERCHANTIL BK HLDG CL A CL A NEW 58734F305 445 34,200 SH   SOLE   34,200 0 0
MERIDIAN BK PAOLI PA COM 58958P104 429 25,000 SH   SOLE   25,000 0 0
MID PENN BANCORP INC COM 59540G107 919 39,927 SH   SOLE   39,927 0 0
PACWEST BANCORP DEL COM 695263103 3,328 100,000 SH   SOLE   100,000 0 0
PATRIOT NATL BANCORP INC COM NEW 70336F203 63 4,453 SH   SOLE   4,453 0 0
PEOPLES BANCORP N C INC COM 710577107 1,801 73,634 SH   SOLE   73,634 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 1,656 35,912 SH   SOLE   35,912 0 0
PLUMAS BANCORP COM 729273102 3,061 134,800 SH   SOLE   134,800 0 0
RENASANT CORP COM 75970E107 1,578 52,300 SH   SOLE   52,300 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 2,719 85,300 SH   SOLE   85,300 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 4,968 154,909 SH   SOLE   154,909 0 0
SOUTHERN MO BANCORP INC COM 843380106 1,085 31,996 SH   SOLE   31,996 0 0
STERLING BANCORP INC COM 85917W102 1,177 169,300 SH   SOLE   169,300 0 0
STEWARDSHIP FINL CORP COM 860326107 601 66,000 SH   SOLE   66,000 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 1,921 99,500 SH   SOLE   99,500 0 0
SVB FINL GROUP COM 78486Q101 2,697 14,200 SH   SOLE   14,200 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 904 17,700 SH   SOLE   17,700 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 3,389 141,500 SH   SOLE   141,500 0 0
UNIVEST CORP PA COM 915271100 1,094 50,700 SH   SOLE   50,700 0 0
VERITEX HLDGS INC COM 923451108 2,621 122,600 SH   SOLE   122,600 0 0
VILLAGE BK & TR FINANCIAL CO COM NEW 92705T200 131 4,314 SH   SOLE   4,314 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,776 70,300 SH   SOLE   70,300 0 0
ZIONS BANCORPORATION COM 989701107 843 20,700 SH   SOLE   20,700 0 0