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HOVDE CAPITAL ADVISORS LLC
> FUNC
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2013 | FIRST UNITED CORP/MD/ | FUNC | 0 | -16,966 | 0 | -139,000 | |
| 09/30/2013 | FIRST UNITED CORP/MD/ | FUNC | 16,966 | -10,444 | 139,000 | -69,000 | $8.19 |
| 06/30/2013 | FIRST UNITED CORP/MD/ | FUNC | 27,410 | 27,410 | 208,000 | 208,000 | $7.59 |
| 03/31/2013 | FIRST UNITED CORP/MD/ | FUNC | 18,759 | 18,759 | 156,000 | 156,000 | $8.32 |
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