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 1,486 201,751 SH   SOLE 0 201,751 0 0
ACCESS NATIONAL CORP COM 004337101 1,453 89,513 SH   SOLE 0 89,513 0 0
AMERICAN RIVER BANKSHARES COM 029326105 3,218 351,670 SH   SOLE 0 351,670 0 0
ANIXTER INTERNATIONAL INC COM 035290105 25,837 304,537 SH   SOLE 0 304,537 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102 1,965 35,081 SH   SOLE 0 35,081 0 0
ASTORIA FINANCIAL CORP COM 046265104 14,549 1,174,223 SH   SOLE 0 1,174,223 0 0
ATLANTIC COAST FINANCIAL CORP COM 048426100 6,252 1,532,310 SH   SOLE 0 1,532,310 0 0
BANK MUTUAL CORP NEW COM 063750103 6,787 1,058,808 SH   SOLE 0 1,058,808 0 0
BANK OF AMER CORP COM 060505104 34,158 2,003,386 SH   SOLE 0 2,003,386 0 0
BANK OF MARIN BANCORP COM 063425102 8,786 191,465 SH   SOLE 0 191,465 0 0
BANK OF NEW YORK COM 064058100 14,498 374,342 SH   SOLE 0 374,342 0 0
BANKFINANCIAL CORP COM 06643P104 18,403 1,772,954 SH   SOLE 0 1,772,954 0 0
BANNER CORP COM NEW 06652V208 3,210 83,439 SH   SOLE 0 83,439 0 0
BEACON ROOFING SUPPLY INC COM 073685109 9,020 354,004 SH   SOLE 0 354,004 0 0
BELDEN INC COM 077454106 39,248 613,054 SH   SOLE 0 613,054 0 0
BLACKROCK INC COM 09247X101 2,296 6,994 SH   SOLE 0 6,994 0 0
BRIDGE BANCORP INC COM 108035106 19,396 820,144 SH   SOLE 0 820,144 0 0
BRIDGE CAPITAL HOLDINGS COM 108030107 15,527 682,808 SH   SOLE 0 682,808 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 2,679 491,489 SH   SOLE 0 491,489 0 0
CAMDEN NATIONAL CORP COM 133034108 6,630 189,422 SH   SOLE 0 189,422 0 0
CAPITAL CITY BANK GROUP INC COM 139674105 11,563 853,956 SH   SOLE 0 853,956 0 0
CARDINAL FINANCIAL CORP COM 14149F109 37,026 2,169,084 SH   SOLE 0 2,169,084 0 0
CARLISLE COS INC COM 142339100 27,158 337,866 SH   SOLE 0 337,866 0 0
CARNIVAL CORP PAIRED CTF 143658300 6,263 155,906 SH   SOLE 0 155,906 0 0
CAROLINA BK HLDGS INC GREENS COM 143785103 2,698 272,514 SH   SOLE 0 272,514 0 0
CASCADE BANCORP COM NEW 147154207 2,194 434,492 SH   SOLE 0 434,492 0 0
CENTERSTATE BANKS INC COM 15201P109 31,477 3,041,266 SH   SOLE 0 3,041,266 0 0
CENTRAL PACIFIC FINANCIAL CORP COM 154760409 19,954 1,112,872 SH   SOLE 0 1,112,872 0 0
CENTRAL VALLEY COMMUNITY BANCORP COM 155685100 4,682 407,830 SH   SOLE 0 407,830 0 0
CENTURY CMNTYS INC COM 156504300 2,354 135,678 SH   SOLE 0 135,678 0 0
CIT GROUP HOLDINGS INC COM NEW 125581801 4,981 108,375 SH   SOLE 0 108,375 0 0
CITIGROUP INC (C) COM NEW 172967424 39,917 770,298 SH   SOLE 0 770,298 0 0
CITIZENS FINANCIAL GROUP INC COM 174610105 7,517 320,979 SH   SOLE 0 320,979 0 0
CITY NATIONAL CORP COM 178566105 39,860 526,756 SH   SOLE 0 526,756 0 0
COMERICA INC COM 200340107 4,486 89,972 SH   SOLE 0 89,972 0 0
COMMUNITY FINL CORP MD COM 20368X101 8,219 396,463 SH   SOLE 0 396,463 0 0
COUSINS PORPERTIES INC COM 222795106 175 14,659 SH   SOLE 0 14,659 0 0
CU BANCORP CALIF COM 126534106 20,795 1,106,132 SH   SOLE 0 1,106,132 0 0
DANA HOLDING CORP COM 235825205 4,798 250,265 SH   SOLE 0 250,265 0 0
DUKE REALTY CORP COM NEW 264411505 551 32,095 SH   SOLE 0 32,095 0 0
EASTERN VA BANKSHARES INC COM 277196101 2,914 468,469 SH   SOLE 0 468,469 0 0
EMCOR GROUP INC COM 29084Q100 6,714 168,013 SH   SOLE 0 168,013 0 0
FARMERS CAP BK CORP COM 309562106 16,558 734,935 SH   SOLE 0 734,935 0 0
FCB FINL HLDGS INC CL A 30255G103 6,711 295,818 SH   SOLE 0 295,818 0 0
FELCOR LODGING TRUST INC COM 31430F101 647 69,095 SH   SOLE 0 69,095 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 9,270 334,183 SH   SOLE 0 334,183 0 0
FIDELITY NATIONAL FINANCIAL FNFV GROUP COM 31620R402 1,533 111,383 SH   SOLE 0 111,383 0 0
FIDELITY NATIONAL INFORMATION SVCS COM 31620M106 9,778 173,670 SH   SOLE 0 173,670 0 0
FIDELITY SOUTHERN CORP COM 316394105 17,489 1,276,535 SH   SOLE 0 1,276,535 0 0
FIFTH THIRD BANCORP COM 316773100 2,500 124,899 SH   SOLE 0 124,899 0 0
FIRST AMERICAN CORP COM 31847R102 23,574 869,261 SH   SOLE 0 869,261 0 0
FIRST BANCORP COM 318910106 18,063 1,127,555 SH   SOLE 0 1,127,555 0 0
FIRST BANCSHARES INC MS COM 318916103 5,556 384,471 SH   SOLE 0 384,471 0 0
FIRST CONN BANCORP INC MD COM 319850103 15,028 1,036,411 SH   SOLE 0 1,036,411 0 0
FIRST HORIZON NATIONAL CORP COM 320517105 1,079 87,900 SH   SOLE 0 87,900 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 355 21,003 SH   SOLE 0 21,003 0 0
FIRST INTERNET BANCORP COM 320557101 4,038 250,521 SH   SOLE 0 250,521 0 0
FIRST LONG ISLAND CORP COM 320734106 19,660 570,675 SH   SOLE 0 570,675 0 0
FIRST NBC BANK HOLDING COMPANY COM 32115D106 542 16,555 SH   SOLE 0 16,555 0 0
FIRST NIAGARA FINANCIAL COM 33582V108 30,838 3,702,059 SH   SOLE 0 3,702,059 0 0
FIRST SEC GROUP INC COM NEW 336312202 6,429 3,246,929 SH   SOLE 0 3,246,929 0 0
FIRST SOUTH BANCORP INC COM 33646W100 2,460 303,746 SH   SOLE 0 303,746 0 0
FULTON FINANCIAL CORP COM 360271100 14,437 1,303,017 SH   SOLE 0 1,303,017 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 2,566 170,190 SH   SOLE 0 170,190 0 0
GREENHILL & CO INC COM 395259104 26,148 562,444 SH   SOLE 0 562,444 0 0
GUARANTY BANCORP COM NEW 40075T607 1,351 99,979 SH   SOLE 0 99,979 0 0
HALLIBURTON CO COM 406216101 7,240 112,234 SH   SOLE 0 112,234 0 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 12,752 8,334,761 SH   SOLE 0 8,334,761 0 0
HANCOCK HOLDING CO COM 410120109 14,901 464,932 SH   SOLE 0 464,932 0 0
HARLEY-DAVIDSON INC COM 412822108 26,435 454,214 SH   SOLE 0 454,214 0 0
HEIDRICK & STRUGGLES INTL IN COM 422819102 3,403 165,698 SH   SOLE 0 165,698 0 0
HERITAGE COMMERCE CORP COM 426927109 1,899 231,268 SH   SOLE 0 231,268 0 0
HERITAGE OAKS BANCORP COM 42724R107 15,619 2,231,286 SH   SOLE 0 2,231,286 0 0
HOME BANCORP INC COM 43689E107 4,848 213,464 SH   SOLE 0 213,464 0 0
HOMESTREET INC COM 43785V102 16,751 980,168 SH   SOLE 0 980,168 0 0
HONEYWELL INTERNATIONAL INC COM 438516106 15,193 163,150 SH   SOLE 0 163,150 0 0
HUDSON VALLEY HOLDING CORP COM 444172100 35,757 1,970,074 SH   SOLE 0 1,970,074 0 0
HUNTINGTON BANCSHARES COM 446150104 17,976 1,847,451 SH   SOLE 0 1,847,451 0 0
INDEPENDENT BANK CORP COM NEW 453838609 12,495 1,048,267 SH   SOLE 0 1,048,267 0 0
INSTALLED BUILDING PRODUCTS INC COM 45780R101 4,841 344,559 SH   SOLE 0 344,559 0 0
INTERNATIONAL BANCSHARES COM 459044103 26,206 1,062,459 SH   SOLE 0 1,062,459 0 0
JACOBS ENGINEERING GROUP INC COM 469814107 673 13,780 SH   SOLE 0 13,780 0 0
JP MORGAN CHASE & CO COM 46625H100 44,157 733,012 SH   SOLE 0 733,012 0 0
KORN FERRY INTL COM NEW 500643200 1,972 79,201 SH   SOLE 0 79,201 0 0
LAKELAND BANCORP INC COM 511637100 1,813 185,729 SH   SOLE 0 185,729 0 0
LEAR CORP COM NEW 521865204 5,377 62,230 SH   SOLE 0 62,230 0 0
LNB BANCORP INC COM 502100100 4,455 311,745 SH   SOLE 0 311,745 0 0
MACATAWA BANK CORP COM 554225102 2,429 506,088 SH   SOLE 0 506,088 0 0
MASCO CORP COM 574599106 4,176 174,565 SH   SOLE 0 174,565 0 0
MB FINANCIAL INC NEW COM 55264U108 4,208 152,017 SH   SOLE 0 152,017 0 0
MBT FINANCIAL CORP COM 578877102 4,616 965,678 SH   SOLE 0 965,678 0 0
METLIFE INC COM 59156R108 4,310 80,239 SH   SOLE 0 80,239 0 0
METRO BANCORP INC COM 59161R101 33,703 1,389,806 SH   SOLE 0 1,389,806 0 0
MOHAWK INDS INC COM 608190104 26,115 193,700 SH   SOLE 0 193,700 0 0
MORGAN STANLEY COM NEW 617446448 8,613 249,140 SH   SOLE 0 249,140 0 0
NCI BUILDING SYSTEMS INC COM NEW 628852204 2,814 145,043 SH   SOLE 0 145,043 0 0
NEW YORK COM BANCORP INC COM 649445103 1,163 73,265 SH   SOLE 0 73,265 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 24,122 3,178,181 SH   SOLE 0 3,178,181 0 0
NORCRAFT COS INC COM 65557Y105 2,950 184,945 SH   SOLE 0 184,945 0 0
NORTH VALLEY BANCORP COM NEW 66304M204 12,661 586,698 SH   SOLE 0 586,698 0 0
NORWEGIAN CRUISE LINE HOLDINGS LTD SHS G66721104 4,529 125,726 SH   SOLE 0 125,726 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 7,536 473,645 SH   SOLE 0 473,645 0 0
OLD LINE BANCSHARES INC COM 67984M100 2,862 184,860 SH   SOLE 0 184,860 0 0
OLD NATIONAL BANCORP COM 680033107 3,993 307,895 SH   SOLE 0 307,895 0 0
OLD SECOND BANCORP INC COM 680277100 6,872 1,428,604 SH   SOLE 0 1,428,604 0 0
ORRSTOWN FINANCIAL SERVICES INC COM 687380105 8,375 513,514 SH   SOLE 0 513,514 0 0
OSHKOSH CORP COM 688239201 7,766 175,903 SH   SOLE 0 175,903 0 0
OWENS CORNING INC COM 690742101 12,322 388,110 SH   SOLE 0 388,110 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 11,937 928,967 SH   SOLE 0 928,967 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 7,225 1,036,590 SH   SOLE 0 1,036,590 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 15,941 1,134,588 SH   SOLE 0 1,134,588 0 0
PACWEST BANCORP COM 695263103 8,927 216,514 SH   SOLE 0 216,514 0 0
PALMETTO BANCSHARES INC COM NEW 697062206 2,634 186,285 SH   SOLE 0 186,285 0 0
PARK STERLING CORP COM 70086Y105 6,987 1,053,799 SH   SOLE 0 1,053,799 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 2,758 157,613 SH   SOLE 0 157,613 0 0
PENNYMAC FINANCIAL SERVICE CL A 70932B101 14,171 967,296 SH   SOLE 0 967,296 0 0
PNC FINANCIAL SERVICES GROUP INC COM 693475105 18,943 221,349 SH   SOLE 0 221,349 0 0
POPULAR INC COM NEW 733174700 1,570 53,325 SH   SOLE 0 53,325 0 0
PREFERRED BANK/LOS ANGELES COM NEW 740367404 23,356 1,037,132 SH   SOLE 0 1,037,132 0 0
PREMIER FINANCIAL BANCORP INC COM 74050M105 541 36,955 SH   SOLE 0 36,955 0 0
PRIVATEBANCORP INC COM 742962103 3,273 109,421 SH   SOLE 0 109,421 0 0
PULASKI FINANCIAL CORP COM 745548107 8,866 770,978 SH   SOLE 0 770,978 0 0
REGIONAL MANAGEMENT CORP COM 75902K106 7,838 436,630 SH   SOLE 0 436,630 0 0
REGIONS FINANCIAL CORP COM 7591EP100 25,904 2,580,042 SH   SOLE 0 2,580,042 0 0
REPUBLIC BANCORP INC CL A 760281204 5,960 251,603 SH   SOLE 0 251,603 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 5,919 1,521,707 SH   SOLE 0 1,521,707 0 0
RIVERVIEW BANCORP INC COM 769397100 3,182 797,445 SH   SOLE 0 797,445 0 0
ROWAN COMPANIES INC SH CL A G7665A101 1,574 62,185 SH   SOLE 0 62,185 0 0
RYDER SYSTEM INC (R) COM 783549108 6,662 74,051 SH   SOLE 0 74,051 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 16,747 1,532,249 SH   SOLE 0 1,532,249 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,730 74,659 SH Put SOLE 0 74,659 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 931 40,201 SH Put SOLE 0 40,201 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 13,957 484,611 SH   SOLE 0 484,611 0 0
SHORE BANCSHARES INC COM 825107105 4,095 454,986 SH   SOLE 0 454,986 0 0
SIERRA BANCORP COM 82620P102 21,134 1,260,955 SH   SOLE 0 1,260,955 0 0
SOUTH STATE CORP COM 840441109 2,368 42,350 SH   SOLE 0 42,350 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101 371 26,659 SH   SOLE 0 26,659 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 156 790 SH Put SOLE 0 790 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 602 3,057 SH Put SOLE 0 3,057 0 0
SPX CORP COM 784635104 4,654 49,549 SH   SOLE 0 49,549 0 0
SQUARE 1 FINANCIAL INC CL A 85223W101 42,664 2,219,358 SH   SOLE 0 2,219,358 0 0
STATE STREET CORP COM 857477103 39,681 539,067 SH   SOLE 0 539,067 0 0
STEINER LEISURE LTD ORD P8744Y102 3,104 82,588 SH   SOLE 0 82,588 0 0
STERLING BANCORP COM 85917A100 9,292 726,525 SH   SOLE 0 726,525 0 0
STEWART INFORMATION SERVICES COM 860372101 12,599 429,251 SH   SOLE 0 429,251 0 0
STOCK BUILDING SUPPLY HOLDINGS INC COM 86101X104 3,539 225,272 SH   SOLE 0 225,272 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 6,540 253,982 SH   SOLE 0 253,982 0 0
STRATEGIC HOTELS & RESORTS COM 86272T106 868 74,501 SH   SOLE 0 74,501 0 0
SUFFOLK BANCORP COM 864739107 22,383 1,153,149 SH   SOLE 0 1,153,149 0 0
SUNTRUST BANKS COM 867914103 3,738 98,299 SH   SOLE 0 98,299 0 0
SWIFT TRANS CO CL A 87074U101 3,563 169,807 SH   SOLE 0 169,807 0 0
SYNOVUS FINANCIAL CORP COM NEW 87161C501 92,869 3,928,468 SH   SOLE 0 3,928,468 0 0
TCF FINANCIAL CORP COM 872275102 2,158 138,944 SH   SOLE 0 138,944 0 0
TEREX CORP COM 880779103 5,708 179,659 SH   SOLE 0 179,659 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 7,208 124,967 SH   SOLE 0 124,967 0 0
TIMBERLAND BANCORP INC COM 887098101 2,090 198,272 SH   SOLE 0 198,272 0 0
TITAN MACHY INC COM 88830R101 577 44,413 SH   SOLE 0 44,413 0 0
TRICO BANCSHARES COM 896095106 10,852 479,768 SH   SOLE 0 479,768 0 0
TUTOR PERINI CORP COM 901109108 3,734 141,452 SH   SOLE 0 141,452 0 0
UNITED BANKSHARES INC WEST V COM 909907107 5,573 180,165 SH   SOLE 0 180,165 0 0
US BANCORP COM NEW 902973304 48,191 1,152,064 SH   SOLE 0 1,152,064 0 0
VALLEY NATIONAL BANCORP COM 919794107 10,593 1,093,193 SH   SOLE 0 1,093,193 0 0
WASHINGTONFIRST BANKSHARE INC COM 940730104 3,093 206,186 SH   SOLE 0 206,186 0 0
WCI CMNTYS INC COM PAR $001 92923C807 3,450 187,113 SH   SOLE 0 187,113 0 0
WEINGARTEN REALTY INVESTORS SH BEN INT 948741103 688 21,830 SH   SOLE 0 21,830 0 0
WELLS FARGO & CO COM 949746101 63,072 1,215,959 SH   SOLE 0 1,215,959 0 0
WESCO INTERNATIONAL INC COM 95082P105 27,555 352,099 SH   SOLE 0 352,099 0 0
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 10,999 265,678 SH   SOLE 0 265,678 0 0
WINTRUST FINANCIAL CORP COM 97650W108 19,726 441,596 SH   SOLE 0 441,596 0 0
XENITH BANKSHARES INC COM 98410X105 1,535 242,475 SH   SOLE 0 242,475 0 0
XEROX CORP COM 984121103 2,881 217,794 SH   SOLE 0 217,794 0 0
YADKIN FINANCIAL CORP COM 984305102 2,576 141,850 SH   SOLE 0 141,850 0 0
ZIONS BANCORPORATION COM 989701107 11,014 379,017 SH   SOLE 0 379,017 0 0