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 CENTURY BANCSHARES INC COM 31943X102 2,972 430,741 SH   SOLE 0 430,741 0 0
1ST SOURCE CORP COM 336901103 2,570 83,256 SH   SOLE 0 83,256 0 0
AERCAP HLDGS NV COM N00985106 8,551 198,124 SH   SOLE 0 198,124 0 0
AIR LEASE CORP CL A 00912X302 13,591 405,930 SH   SOLE 0 405,930 0 0
AMERIPRISE FINL INC COM 03076C106 1,354 12,727 SH   SOLE 0 12,727 0 0
ANCHOR BANCORP WIS INC DEL COM 03283P106 18,592 427,214 SH   SOLE 0 427,214 0 0
ANIXTER INTL INC COM 035290105 18,564 307,395 SH   SOLE 0 307,395 0 0
ASTORIA FINL CORP COM 046265104 27,111 1,710,458 SH   SOLE 0 1,710,458 0 0
ATLANTIC BANCSHARES INC COM 048269203 5,506 367,539 SH   SOLE 0 367,539 0 0
BANK OF AMERICA CORP COM 060505104 23,140 1,374,899 SH   SOLE 0 1,374,899 0 0
BANK OF MARIN BANCORP COM 063425102 17,023 318,783 SH   SOLE 0 318,783 0 0
BANK OF NEW YORK COM 064058100 6,592 159,912 SH   SOLE 0 159,912 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 2,731 211,243 SH   SOLE 0 211,243 0 0
BANKFINANCIAL CORP COM 06643P104 22,506 1,781,913 SH   SOLE 0 1,781,913 0 0
BANNER CORP COM 06652V208 721 15,721 SH   SOLE 0 15,721 0 0
BEACON ROOFING SUPPLY INC COM 073685109 14,578 354,004 SH   SOLE 0 354,004 0 0
BELDEN INC COM 077454106 30,616 642,119 SH   SOLE 0 642,119 0 0
BLACKROCK INC COM 09247X101 3,833 11,255 SH   SOLE 0 11,255 0 0
BMC STK HLDGS INC COM 05591B109 554 33,067 SH   SOLE 0 33,067 0 0
BOFI HOLDING INC COM 05566U108 15,613 741,687 SH   SOLE 0 741,687 0 0
BREITBURN ENERGY PARTNERS LP COM 106776107 40 59,865 SH   SOLE 0 59,865 0 0
BRIDGE BANCORP INC COM 108035106 51,551 1,694,082 SH   SOLE 0 1,694,082 0 0
BRYN MAWR BANK CORP COM 117665109 24,176 841,797 SH   SOLE 0 841,797 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 3,249 293,220 SH   SOLE 0 293,220 0 0
CAESARSTONE SDOT-YAM LTD ORD SHS M20598104 3,000 69,218 SH   SOLE 0 69,218 0 0
CAMDEN NATL CORP COM 133034108 9,560 216,840 SH   SOLE 0 216,840 0 0
CAPITAL CITY BK GROUP INC COM 139674105 4,090 266,435 SH   SOLE 0 266,435 0 0
CARDINAL FINL CORP COM 14149F109 16,238 713,775 SH   SOLE 0 713,775 0 0
CARLISLE COS INC COM 142339100 29,965 337,866 SH   SOLE 0 337,866 0 0
CAROLINA BK HLDGS INC GREENS COM 143785103 7,835 424,873 SH   SOLE 0 424,873 0 0
CASCADE BANCORP COM 147154207 20,834 3,432,235 SH   SOLE 0 3,432,235 0 0
CENTERSTATE BANKS INC COM 15201P109 14,990 957,809 SH   SOLE 0 957,809 0 0
CENTRAL PACIFIC FINL CORP COM 154760409 16,539 751,080 SH   SOLE 0 751,080 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 11,559 960,853 SH   SOLE 0 960,853 0 0
CENTURY CMNTY INC COM 156504300 6,074 342,991 SH   SOLE 0 342,991 0 0
CIT GROUP HLDGS INC COM 125581801 17,280 435,259 SH   SOLE 0 435,259 0 0
CITIGROUP INC COM 172967424 9,991 193,061 SH   SOLE 0 193,061 0 0
CITIZENS FINL GROUP INC COM 174610105 57,594 2,199,083 SH   SOLE 0 2,199,083 0 0
COMERICA INC COM 200340107 24,036 574,620 SH   SOLE 0 574,620 0 0
COMMERCE BANCSHARES INC COM 200525103 9,894 232,574 SH   SOLE 0 232,574 0 0
COUSINS PPTYS INC COM 222795106 138 14,659 SH   SOLE 0 14,659 0 0
COVENANT TRANS GROUP INC COM 22284P105 3,574 189,205 SH   SOLE 0 189,205 0 0
CSX CORP COM 126408103 1,464 56,412 SH   SOLE 0 56,412 0 0
CU BANCORP COM 126534106 30,561 1,205,099 SH   SOLE 0 1,205,099 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 329 15,580 SH   SOLE 0 15,580 0 0
EAGLE BANCORP INC COM 268948106 2,322 46,014 SH   SOLE 0 46,014 0 0
EMCOR GROUP INC COM 29084Q100 8,916 185,585 SH   SOLE 0 185,585 0 0
ENSCO PLC COM G3157S106 123 7,986 SH   SOLE 0 7,986 0 0
EQUITY BANCSHARES INC COM 29460X109 4,745 202,859 SH   SOLE 0 202,859 0 0
ESSENT GROUP LTD COM G3198U102 2,602 118,873 SH   SOLE 0 118,873 0 0
FARMERS CAP BK CORP COM 309562106 20,113 741,891 SH   SOLE 0 741,891 0 0
FCB FINL HLDGS INC CL A 30255G103 1,925 53,788 SH   SOLE 0 53,788 0 0
FELCOR LODGING TRUST INC COM 31430F101 504 69,095 SH   SOLE 0 69,095 0 0
FIDELITY NATL FINL INC COM 31620R303 11,586 334,183 SH   SOLE 0 334,183 0 0
FIDELITY NATL INFORMATION SVCS COM 31620M106 8,901 146,883 SH   SOLE 0 146,883 0 0
FIFTH THIRD BANCORP COM 316773100 4,047 201,322 SH   SOLE 0 201,322 0 0
FIRST AMERICAN CORP COM 31847R102 20,358 567,081 SH   SOLE 0 567,081 0 0
FIRST BANCORP COM 318910106 20,031 1,068,895 SH   SOLE 0 1,068,895 0 0
FIRST CTZNS BANCSHARES INC CL A 31946M103 3,880 15,028 SH   SOLE 0 15,028 0 0
FIRST FNDTN INC COM 32026V104 13,232 560,919 SH   SOLE 0 560,919 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 465 21,003 SH   SOLE 0 21,003 0 0
FIRST NIAGARA FINL COM 33582V108 4 387 SH   SOLE 0 387 0 0
FIRST SOUTH BANCORP INC COM 33646W100 4,025 470,814 SH   SOLE 0 470,814 0 0
FIDELITY NATL FINL FNFV GROUP COM 31620R402 1,251 111,383 SH   SOLE 0 111,383 0 0
GUARANTY BANCORP COM NEW 40075T607 22,604 1,366,653 SH   SOLE 0 1,366,653 0 0
HALLIBURTON COMPANY COM 406216101 3,820 112,234 SH   SOLE 0 112,234 0 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 3,825 2,078,578 SH   SOLE 0 2,078,578 0 0
HANCOCK HOLDING CO COM 410120109 12,169 483,465 SH   SOLE 0 483,465 0 0
HARLEY-DAVIDSON INC COM 412822108 20,617 454,214 SH   SOLE 0 454,214 0 0
HERITAGE OAKS BANCORP COM 42724R107 17,660 2,204,758 SH   SOLE 0 2,204,758 0 0
HONEYWELL INTL INC COM 438516106 16,897 163,150 SH   SOLE 0 163,150 0 0
HORIZON BANCORP COM 440407104 2,301 82,293 SH   SOLE 0 82,293 0 0
HOULIHAN LOKEY INC COM 441593100 10,008 381,855 SH   SOLE 0 381,855 0 0
INDEPENDENT BANK CORP MASS COM 453838609 15,570 1,022,340 SH   SOLE 0 1,022,340 0 0
INDEPENDENT BANK GROUP INC COM 45384B106 8,595 268,605 SH   SOLE 0 268,605 0 0
INSTALLED BLDG PRODS INC COM 45780R101 4,074 164,076 SH   SOLE 0 164,076 0 0
J ALEXANDER'S HLDGS INC COM 46609J106 210 19,238 SH   SOLE 0 19,238 0 0
JACOBS ENGR GROUP INC COM 469814107 578 13,780 SH   SOLE 0 13,780 0 0
JP MORGAN CHASE & CO COM 46625H100 48,401 733,012 SH   SOLE 0 733,012 0 0
KEYCORP COM 493267108 22,518 1,707,220 SH   SOLE 0 1,707,220 0 0
KINDER MORGAN INC DEL COM 49456B101 1,882 126,163 SH   SOLE 0 126,163 0 0
LAKE SUNAPEE BK GROUP COM 510866106 1,197 85,331 SH   SOLE 0 85,331 0 0
LAKELAND BANCORP INC COM 511637100 2,190 185,729 SH   SOLE 0 185,729 0 0
LEAR CORP COM NEW 521865204 9,873 80,377 SH   SOLE 0 80,377 0 0
LINN ENERGY LLC UNIT LTD LIAB 536020100 86 66,496 SH   SOLE 0 66,496 0 0
LINNCO LLC COM SHS LTD INT 535782106 56 55,291 SH   SOLE 0 55,291 0 0
MACATAWA BK CORP COM 554225102 2,844 470,121 SH   SOLE 0 470,121 0 0
MASCO CORP COM 574599106 4,940 174,565 SH   SOLE 0 174,565 0 0
MB FINL INC COM 55264U108 4,921 152,017 SH   SOLE 0 152,017 0 0
MBT FINL CORP COM 578877102 8,689 1,272,182 SH   SOLE 0 1,272,182 0 0
METHODE ELECTRONICS INC COM 591520200 2,258 70,935 SH   SOLE 0 70,935 0 0
METLIFE INC COM 59156R108 4,443 92,164 SH   SOLE 0 92,164 0 0
METRO BANCORP INC PA COM 59161R101 3,958 126,134 SH   SOLE 0 126,134 0 0
MIDSOUTH BANCORP INC COM 598039105 608 67,006 SH   SOLE 0 67,006 0 0
NEW YORK COM BANCORP INC COM 649445103 1,196 73,265 SH   SOLE 0 73,265 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 3,742 307,229 SH   SOLE 0 307,229 0 0
NORWEGIAN CRUISE LINE HLDGS LTD COM G66721104 8,086 137,983 SH   SOLE 0 137,983 0 0
OCEANFIRST FINL CORP COM 675234108 11,233 560,808 SH   SOLE 0 560,808 0 0
OLD LINE BANCSHARES INC COM 67984M100 7,027 399,932 SH   SOLE 0 399,932 0 0
OLD NATL BANCORP IND COM 680033107 4,175 307,896 SH   SOLE 0 307,896 0 0
OLD SECOND BANCORP INC COM 680277100 11,237 1,433,340 SH   SOLE 0 1,433,340 0 0
ONEMAIN HLDGS INC COM 68268W103 1,003 24,136 SH   SOLE 0 24,136 0 0
OPUS BANK IRVINE CALIF COM 684000102 26,000 703,279 SH   SOLE 0 703,279 0 0
ORRSTOWN FINL SVCS INC COM 687380105 9,269 519,590 SH   SOLE 0 519,590 0 0
OSHKOSH CORP COM 688239201 3,542 90,721 SH   SOLE 0 90,721 0 0
OWENS CORNING INC COM 690742101 17,733 377,054 SH   SOLE 0 377,054 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 19,946 1,340,460 SH   SOLE 0 1,340,460 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 21,576 1,015,353 SH   SOLE 0 1,015,353 0 0
PACWEST BANCORP DEL COM 695263103 20,449 474,459 SH   SOLE 0 474,459 0 0
PEAPACK GLADSTONE FINL CORP COM 704699107 17,174 832,879 SH   SOLE 0 832,879 0 0
PENNYMAC FINL SVCS CL A 70932B101 10,401 677,169 SH   SOLE 0 677,169 0 0
PEOPLES BANCORP INC COM 709789101 7,533 399,845 SH   SOLE 0 399,845 0 0
PEOPLE'S UTAH BANCORP COM 712706209 6,937 403,059 SH   SOLE 0 403,059 0 0
PNC FINL SERVICES GROUP INC COM 693475105 3,571 37,471 SH   SOLE 0 37,471 0 0
POPULAR INC COM NEW 733174700 1,511 53,325 SH   SOLE 0 53,325 0 0
PREFERRED BK/LOS ANGELES CA COM NEW 740367404 23,097 699,482 SH   SOLE 0 699,482 0 0
PREMIER FINL BANCORP INC COM 74050M105 2,769 168,452 SH   SOLE 0 168,452 0 0
PRIVATEBANCORP INC COM 742962103 4,488 109,421 SH   SOLE 0 109,421 0 0
PROVIDENT BANCORP INC COM 74383X109 2,655 204,407 SH   SOLE 0 204,407 0 0
PULASKI FINL CORP COM 745548107 4,642 290,844 SH   SOLE 0 290,844 0 0
PULTE GROUP INC COM 745867101 3,395 190,533 SH   SOLE 0 190,533 0 0
SELECT SECTOR SPDR TR SBI INTL-FINL 81369Y605 1,704 71,500 SH Put SOLE 0 71,500 0 0
SELECT SECTOR SPDR TR SBI INTL-FINL 81369Y605 1 44 SH Put SOLE 0 44 0 0
SELECT SECTOR SPDR TR SBI INTL-FINL 81369Y605 2 72 SH Put SOLE 0 72 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 52 255 SH Put SOLE 0 255 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 677 3,320 SH Put SOLE 0 3,320 0 0
REGIONAL MGMT CORP COM 75902K106 16,790 1,085,352 SH   SOLE 0 1,085,352 0 0
REGIONS FINL CORP COM 7591EP100 58,438 6,087,253 SH   SOLE 0 6,087,253 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 10,255 2,368,338 SH   SOLE 0 2,368,338 0 0
RIVERVIEW BANCORP INC COM 769397100 7,086 1,510,867 SH   SOLE 0 1,510,867 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 1,739 32,456 SH   SOLE 0 32,456 0 0
RYDER SYSTEM INC COM 783549108 4,208 74,051 SH   SOLE 0 74,051 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 35,805 2,390,201 SH   SOLE 0 2,390,201 0 0
SHORE BANCSHARES INC COM 825107105 6,968 640,477 SH   SOLE 0 640,477 0 0
SIERRA BANCORP COM 82620P102 16,680 945,055 SH   SOLE 0 945,055 0 0
SVB FINL GROUP COM 78486Q101 32,265 271,361 SH   SOLE 0 271,361 0 0
SOUTH ST CORP COM 840441109 3,047 42,350 SH   SOLE 0 42,350 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101 5,388 237,360 SH   SOLE 0 237,360 0 0
SPX CORP COM 784635104 299 32,072 SH   SOLE 0 32,072 0 0
SPX FLOW INC COM 78469X107 895 32,072 SH   SOLE 0 32,072 0 0
STATE STREET CORP COM 857477103 4,605 69,388 SH   SOLE 0 69,388 0 0
STERLING BANCORP COM 85917A100 8,792 542,053 SH   SOLE 0 542,053 0 0
STEWART INFORMATION SVCS COM 860372101 37,782 1,012,102 SH   SOLE 0 1,012,102 0 0
SUFFOLK BANCORP COM 864739107 33,056 1,165,986 SH   SOLE 0 1,165,986 0 0
SUNSHINE BANCORP INC COM 86777J108 1,743 116,851 SH   SOLE 0 116,851 0 0
SUNTRUST BKS INC COM 867914103 1,701 39,695 SH   SOLE 0 39,695 0 0
SUSSEX BANCORP COM 869245100 839 64,118 SH   SOLE 0 64,118 0 0
SWIFT TRANS CO CL A 87074U101 2,763 199,926 SH   SOLE 0 199,926 0 0
SYNOVUS FINL CORP COM NEW 87161C501 9,438 291,486 SH   SOLE 0 291,486 0 0
TCF FINL CORP COM 872275102 35,003 2,478,992 SH   SOLE 0 2,478,992 0 0
TEREX CORP NEW COM 880779103 2,872 155,437 SH   SOLE 0 155,437 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 28,616 579,032 SH   SOLE 0 579,032 0 0
CMNTY FINL CORP MD COM 20368X101 9,621 459,016 SH   SOLE 0 459,016 0 0
FIRST BANCSHARES INC COM 318916103 3,392 184,953 SH   SOLE 0 184,953 0 0
FIRST LONG IS CORP COM 320734106 28,815 960,485 SH   SOLE 0 960,485 0 0
TIMBERLAND BANCORP INC COM 887098101 3,869 311,776 SH   SOLE 0 311,776 0 0
TOPBUILD CORP COM 89055F103 597 19,396 SH   SOLE 0 19,396 0 0
TRANSOCEAN LTD REG SHS H8817H100 125 10,114 SH   SOLE 0 10,114 0 0
TRI POINTE GROUP INC COM 87265H109 2,348 185,331 SH   SOLE 0 185,331 0 0
TRICO BANCSHARES COM 896095106 3,786 137,982 SH   SOLE 0 137,982 0 0
TRIUMPH BANCORP INC COM 89679E300 17,248 1,045,355 SH   SOLE 0 1,045,355 0 0
TUTOR PERINI CORP COM 901109108 1,251 74,710 SH   SOLE 0 74,710 0 0
UNITED BANKSHARES INC COM 909907107 6,664 180,165 SH   SOLE 0 180,165 0 0
UNITED RENTALS INC COM 911363109 4,134 56,991 SH   SOLE 0 56,991 0 0
UNITY BANCORP INC COM 913290102 8,075 647,551 SH   SOLE 0 647,551 0 0
US BANCORP DEL COM NEW 902973304 49,159 1,152,064 SH   SOLE 0 1,152,064 0 0
VALLEY NATL BANCORP COM 919794107 3,214 326,307 SH   SOLE 0 326,307 0 0
VERITEX HLDGS INC COM 923451108 14,596 900,462 SH   SOLE 0 900,462 0 0
WASHINGTONFIRST BANKSHARE INC COM 940730104 14,736 650,904 SH   SOLE 0 650,904 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 3,842 172,428 SH   SOLE 0 172,428 0 0
WELLS FARGO & CO NEW COM 949746101 66,100 1,215,959 SH   SOLE 0 1,215,959 0 0
WESCO INTL INC COM 95082P105 14,918 341,529 SH   SOLE 0 341,529 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,700 75,297 SH   SOLE 0 75,297 0 0
LYON WILLIAM HOMES CL A NEW 552074700 2,177 131,960 SH   SOLE 0 131,960 0 0
WILLIS GROUP HLDGS PUBLIC SHS G96666105 3,865 79,575 SH   SOLE 0 79,575 0 0
XENITH BANKSHARES INC COM 98410X105 3,154 421,594 SH   SOLE 0 421,594 0 0