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
AERCAP HOLDINGS NV SHS N00985106 256 5,000 SH   SOLE _ 5,000 0 0
ALEXANDER & BALDWIN INC NEW COM 014491104 14,826 320,003 SH   SOLE _ 320,003 0 0
ALLY FINL INC COM 02005N100 41,414 1,707,074 SH   SOLE _ 1,707,074 0 0
AMAZON COM INC COM 023135106 577 600 SH   SOLE _ 600 0 0
AMBAC FINL GROUP INC COM NEW 023139884 38,262 2,216,788 SH   SOLE _ 2,216,788 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 4,604 75,000 SH   SOLE _ 75,000 0 0
ARES CAP CORP COM 04010L103 328 20,000 SH   SOLE _ 20,000 0 0
ARES MGMT L P COM UNIT RP IN 04014Y101 20,269 1,086,804 SH   SOLE _ 1,086,804 0 0
ATLANTIC COAST FINL CORP COM 048426100 9,772 1,109,234 SH   SOLE _ 1,109,234 0 0
BANC OF CALIFORNIA INC COM 05990K106 25,419 1,225,000 SH   SOLE _ 1,225,000 0 0
BANK COMM HLDGS COM 06424J103 10,142 881,952 SH   SOLE _ 881,952 0 0
BANK PRINCETON NEW JERSEY COM 064520109 14,555 455,000 SH   SOLE _ 455,000 0 0
BBX CAP CORP NEW CL A 05491N104 4,564 619,250 SH   SOLE _ 619,250 0 0
BLUE HILLS BANCORP INC COM 095573101 19,200 1,000,000 SH   SOLE _ 1,000,000 0 0
BLUEROCK RESIDENTIAL GRW REI COM CL A 09627J102 940 85,000 SH   SOLE _ 85,000 0 0
BRIGHTHOUSE FINL INC COM 10922N103 4,256 70,000 SH   SOLE _ 70,000 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 4,899 351,181 SH   SOLE _ 351,181 0 0
CITIZENS FINL GROUP INC COM 174610105 51,314 1,355,000 SH   SOLE _ 1,355,000 0 0
CIVISTA BANCSHARES INC 6.50% PFD SER B 178867206 14,829 221,331 SH   SOLE _ 221,331 0 0
CNX COAL RES LP COM UNIT RP LP 12592V100 592 40,000 SH   SOLE _ 40,000 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 502 40,000 SH   SOLE _ 40,000 0 0
COMERICA INC COM 200340107 22,878 300,000 SH   SOLE _ 300,000 0 0
COMMUNITY BANKERS TR CORP COM 203612106 13,800 1,500,000 SH   SOLE _ 1,500,000 0 0
COMMUNITY FINL CORP MD COM 20368X101 4,559 128,896 SH   SOLE _ 128,896 0 0
CONE MIDSTREAM PARTNERS LP COM UNIT REPST 206812109 475 30,000 SH   SOLE _ 30,000 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 13,530 550,000 SH   SOLE _ 550,000 0 0
CYRUSONE INC COM 23283R100 589 10,000 SH   SOLE _ 10,000 0 0
ENCORE CAP GROUP INC COM 292554102 2,437 55,004 SH   SOLE _ 55,004 0 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 366 20,000 SH   SOLE _ 20,000 0 0
ENLINK MIDSTREAM PARTNERS LP COM UNIT REP LTD 29336U107 503 30,000 SH   SOLE _ 30,000 0 0
ENTEGRA FINL CORP COM 29363J108 12,475 500,000 SH   SOLE _ 500,000 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 521 20,000 SH   SOLE _ 20,000 0 0
FIRST DATA CORP NEW COM CL A 32008D106 24,354 1,350,000 SH   SOLE _ 1,350,000 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 927 17,368 SH   SOLE _ 17,368 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 42,003 1,183,841 SH   SOLE _ 1,183,841 0 0
FS BANCORP INC COM 30263Y104 3,616 70,000 SH   SOLE _ 70,000 0 0
GREENHILL & CO INC COM 395259104 2,917 175,739 SH   SOLE _ 175,739 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 4,237 197,990 SH   SOLE _ 197,990 0 0
HAMILTON BANCORP INC MD COM 407015106 4,778 325,000 SH   SOLE _ 325,000 0 0
HMN FINL INC COM 40424G108 1,317 73,792 SH   SOLE _ 73,792 0 0
HOME BANCORP INC COM 43689E107 15,715 375,785 SH   SOLE _ 375,785 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 4,044 372,735 SH   SOLE _ 372,735 0 0
HOWARD BANCORP INC COM 442496105 18,017 862,059 SH   SOLE _ 862,059 0 0
IBERIABANK CORP COM 450828108 16,430 200,000 SH   SOLE _ 200,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 16,988 750,000 SH   SOLE _ 750,000 0 0
INVESTAR HLDG CORP COM 46134L105 14,080 584,224 SH   SOLE _ 584,224 0 0
INVESTORS BANCORP INC NEW COM 46146L101 6,820 500,000 SH   SOLE _ 500,000 0 0
KEYCORP NEW COM 493267108 30,488 1,620,000 SH   SOLE _ 1,620,000 0 0
MALVERN BANCORP INC COM 561409103 17,136 640,587 SH   SOLE _ 640,587 0 0
MBIA INC COM 55262C100 34,065 3,915,500 SH   SOLE _ 3,915,500 0 0
MERIDIAN BANCORP INC MD COM 58958U103 9,325 500,000 SH   SOLE _ 500,000 0 0
META FINL GROUP INC COM 59100U108 3,920 50,000 SH   SOLE _ 50,000 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 256 20,000 SH   SOLE _ 20,000 0 0
OASIS MIDSTREAM PARTNERS LP COM UNITS REPS 67420T206 254 15,000 SH   SOLE _ 15,000 0 0
OCEANFIRST FINL CORP COM 675234108 4,216 153,366 SH   SOLE _ 153,366 0 0
ON DECK CAP INC COM 682163100 32,349 6,927,054 SH   SOLE _ 6,927,054 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 8,951 978,251 SH   SOLE _ 978,251 0 0
PARKE BANCORP INC COM 700885106 3,663 165,000 SH   SOLE _ 165,000 0 0
PCSB FINL CORP COM 69324R104 9,820 520,681 SH   SOLE _ 520,681 0 0
PIONEER NAT RES CO COM 723787107 369 2,500 SH   SOLE _ 2,500 0 0
RANDOLPH BANCORP INC COM 752378109 7,684 501,900 SH   SOLE _ 501,900 0 0
RBB BANCORP COM 74930B105 12,123 529,605 SH   SOLE _ 529,605 0 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 8,274 1,182,000 SH   SOLE _ 1,182,000 0 0
SI FINL GROUP INC MD COM 78425V104 5,311 355,220 SH   SOLE _ 355,220 0 0
SIMON PPTY GROUP INC NEW COM 828806109 483 3,000 SH   SOLE _ 3,000 0 0
SMARTFINANCIAL INC COM NEW 83190L208 10,386 431,659 SH   SOLE _ 431,659 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 9,088 250,000 SH   SOLE _ 250,000 0 0
STERLING BANCORP DEL COM 85917A100 44,127 1,790,160 SH   SOLE _ 1,790,160 0 0
STUDENT TRANSN INC COM 86388A108 448 75,000 SH   SOLE _ 75,000 0 0
SUN BANCORP INC COM NEW 86663B201 35,679 1,435,777 SH   SOLE _ 1,435,777 0 0
SYNOVUS FINL CORP COM NEW 87161C501 41,454 900,002 SH   SOLE _ 900,002 0 0
TRI POINTE GROUP INC COM 87265H109 276 20,000 SH   SOLE _ 20,000 0 0
UNITY BANCORP INC COM 913290102 8,763 442,600 SH   SOLE _ 442,600 0 0
USD PARTNERS LP COM UT REP LTD 903318103 825 75,000 SH   SOLE _ 75,000 0 0
WELLS FARGO CO NEW COM 949746101 276 5,000 SH   SOLE _ 5,000 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 10,900 1,000,000 SH   SOLE _ 1,000,000 0 0
WHEELER REAL ESTATE INVT TR COM NEW 963025705 684 59,210 SH   SOLE _ 59,210 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 17,676 20,625 SH   SOLE _ 20,625 0 0
ZIONS BANCORPORATION COM 989701107 45,403 962,339 SH   SOLE _ 962,339 0 0
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 15,180 1,000,000 SH   SOLE _ 1,000,000 0 0