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 CONSTITUTION BANCORP COM 31986N102 1,439 78,615 SH   SOLE   78,615 0 0
ACCESS NATL CORP COM 004337101 1,253 45,003 SH   SOLE   45,003 0 0
ACNB CORP COM 000868109 453 15,315 SH   SOLE   15,315 0 0
ALLEGIANCE BANCSHARES INC COM 01748H107 400 10,614 SH   SOLE   10,614 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 343 8,951 SH   SOLE   8,951 0 0
AMERICAN RIVER BANKSHARES COM 029326105 325 21,336 SH   SOLE   21,336 0 0
AMERISERV FINL INC COM 03074A102 2,694 649,244 SH   SOLE   649,244 0 0
ANCHOR BANCORP WA COM 032838104 6,004 242,108 SH   SOLE   242,108 0 0
ATLANTIC COAST FINL CORP COM 048426100 1,063 112,688 SH   SOLE   112,688 0 0
AUBURN NATL BANCORP COM 050473107 306 7,860 SH   SOLE   7,860 0 0
BANCFIRST CORP COM 05945F103 916 17,912 SH   SOLE   17,912 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 564 30,897 SH   SOLE   30,897 0 0
BANK COMM HLDGS COM 06424J103 1,262 109,757 SH   SOLE   109,757 0 0
BANK OF MARIN BANCORP COM 063425102 708 10,409 SH   SOLE   10,409 0 0
BANK PRINCETON NEW JERSEY COM 064520109 808 23,530 SH   SOLE   23,530 0 0
BANKUNITED INC COM 06652K103 13,761 337,938 SH   SOLE   337,938 0 0
BANKWELL FINL GROUP INC COM 06654A103 1,025 29,845 SH   SOLE   29,845 0 0
BANNER CORP COM NEW 06652V208 6,319 114,645 SH   SOLE   114,645 0 0
BAY BANCORP INC COM 07203T106 11,080 906,358 SH   SOLE   906,358 0 0
C & F FINL CORP COM 12466Q104 1,947 33,563 SH   SOLE   33,563 0 0
CENTRAL FED CORP COM NEW 15346Q202 804 292,505 SH   SOLE   292,505 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 2,664 132,001 SH   SOLE   132,001 0 0
CHARTER FINL CORP MD COM 16122W108 3,343 190,602 SH   SOLE   190,602 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,902 86,453 SH   SOLE   86,453 0 0
CNB FINL CORP PA COM 126128107 164 6,267 SH   SOLE   6,267 0 0
CODORUS VY BANCORP INC COM 192025104 773 28,080 SH   SOLE   28,080 0 0
COLONY BANKCORP INC COM 19623P101 162 11,120 SH   SOLE   11,120 0 0
COMMUNITY BANKERS TR CORP COM 203612106 379 46,544 SH   SOLE   46,544 0 0
COMMUNITY TR BANCORP INC COM 204149108 581 12,330 SH   SOLE   12,330 0 0
COMMUNITY WEST BANCSHARES COM 204157101 621 58,339 SH   SOLE   58,339 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 346 13,430 SH   SOLE   13,430 0 0
COUNTY BANCORP INC COM 221907108 517 17,365 SH   SOLE   17,365 0 0
CUSTOMERS BANCORP INC COM 23204G100 5,874 226,017 SH   SOLE   226,017 0 0
DIME CMNTY BANCSHARES COM 253922108 6,204 296,118 SH   SOLE   296,118 0 0
EAGLE BANCORP MONT INC COM 26942G100 458 21,874 SH   SOLE   21,874 0 0
ENTEGRA FINL CORP COM 29363J108 747 25,539 SH   SOLE   25,539 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 1,093 32,089 SH   SOLE   32,089 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 5,464 250,642 SH   SOLE   250,642 0 0
FIFTH THIRD BANCORP COM 316773100 472 15,545 SH   SOLE   15,545 0 0
FINANCIAL INSTNS INC COM 317585404 1,898 61,028 SH   SOLE   61,028 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 915 41,387 SH   SOLE   41,387 0 0
FIRST DEFIANCE FINL CORP COM 32006W106 405 7,786 SH   SOLE   7,786 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 2,675 172,447 SH   SOLE   172,447 0 0
FIRST FINL CORP IND COM 320218100 336 7,400 SH   SOLE   7,400 0 0
FIRST GTY BANCSHARES INC COM 32043P106 1,247 49,893 SH   SOLE   49,893 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 999 24,956 SH   SOLE   24,956 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,261 77,355 SH   SOLE   77,355 0 0
FIRST US BANCSHARES INC COM 33744V103 997 77,920 SH   SOLE   77,920 0 0
FLUSHING FINL CORP COM 343873105 1,777 64,620 SH   SOLE   64,620 0 0
FNB CORP PA COM 302520101 2,809 203,265 SH   SOLE   203,265 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 7,745 227,115 SH   SOLE   227,115 0 0
FS BANCORP INC COM 30263Y104 2,381 43,627 SH   SOLE   43,627 0 0
GLEN BURNIE BANCORP COM 377407101 510 46,116 SH   SOLE   46,116 0 0
GREAT SOUTHN BANCORP INC COM 390905107 2,358 45,647 SH   SOLE   45,647 0 0
GREEN BANCORP INC COM 39260X100 4,820 237,434 SH   SOLE   237,434 0 0
HAMILTON BANCORP INC MD COM 407015106 1,348 87,551 SH   SOLE   87,551 0 0
HEARTLAND FINL USA INC COM 42234Q102 1,744 32,499 SH   SOLE   32,499 0 0
HERITAGE COMMERCE CORP COM 426927109 1,699 110,912 SH   SOLE   110,912 0 0
HILLTOP HOLDINGS INC COM 432748101 10,842 428,047 SH   SOLE   428,047 0 0
HMN FINL INC COM 40424G108 232 12,125 SH   SOLE   12,125 0 0
HOME BANCORP INC COM 43689E107 1,024 23,685 SH   SOLE   23,685 0 0
HOMESTREET INC COM 43785V102 5,667 195,735 SH   SOLE   195,735 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 247 22,104 SH   SOLE   22,104 0 0
HOMETRUST BANCSHARES INC COM 437872104 1,296 50,345 SH   SOLE   50,345 0 0
HOPE BANCORP INC COM 43940T109 5,462 299,312 SH   SOLE   299,312 0 0
HOWARD BANCORP INC COM 442496105 696 31,658 SH   SOLE   31,658 0 0
IBERIABANK CORP COM 450828108 6,268 80,874 SH   SOLE   80,874 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 10,472 263,787 SH   SOLE   263,787 0 0
MACKINAC FINL CORP COM 554571109 473 29,726 SH   SOLE   29,726 0 0
NATIONAL BK HLDGS CORP CL A 633707104 2,663 82,124 SH   SOLE   82,124 0 0
NORTHEAST BANCORP COM NEW 663904209 5,623 242,881 SH   SOLE   242,881 0 0
NORTHERN TR CORP COM 665859104 487 4,879 SH   SOLE   4,879 0 0
NORWOOD FINANCIAL CORP COM 669549107 303 9,184 SH   SOLE   9,184 0 0
OPUS BK IRVINE CALIF COM 684000102 2,412 88,334 SH   SOLE   88,334 0 0
ORITANI FINL CORP DEL COM 68633D103 6,803 414,830 SH   SOLE   414,830 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 1,491 170,395 SH   SOLE   170,395 0 0
PACIFIC PREMIER BANCORP COM 69478X105 2,931 73,275 SH   SOLE   73,275 0 0
PARAGON COML CORP COM NEW 69911U403 222 4,176 SH   SOLE   4,176 0 0
PARKE BANCORP INC COM 700885106 1,874 91,203 SH   SOLE   91,203 0 0
PEOPLES BANCORP INC COM 709789101 895 27,442 SH   SOLE   27,442 0 0
PEOPLES UTAH BANCORP COM 712706209 1,306 43,117 SH   SOLE   43,117 0 0
PLUMAS BANCORP COM 729273102 1,002 43,208 SH   SOLE   43,208 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 3,571 60,753 SH   SOLE   60,753 0 0
PREMIER FINL BANCORP INC COM 74050M105 1,578 78,608 SH   SOLE   78,608 0 0
QCR HOLDINGS INC COM 74727A104 1,219 28,445 SH   SOLE   28,445 0 0
RIVERVIEW BANCORP INC COM 769397100 339 39,082 SH   SOLE   39,082 0 0
SB FINL GROUP INC COM 78408D105 777 42,042 SH   SOLE   42,042 0 0
SELECT BANCORP INC NEW COM 81617L108 1,992 157,617 SH   SOLE   157,617 0 0
SHORE BANCSHARES INC COM 825107105 2,674 160,091 SH   SOLE   160,091 0 0
SIERRA BANCORP COM 82620P102 2,377 89,477 SH   SOLE   89,477 0 0
SMARTFINANCIAL INC COM NEW 83190L208 1,033 47,604 SH   SOLE   47,604 0 0
SOUND FINL BANCORP INC COM 83607A100 2,013 59,165 SH   SOLE   59,165 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 1,450 90,430 SH   SOLE   90,430 0 0
STATE BK FINL CORP COM 856190103 7,344 246,122 SH   SOLE   246,122 0 0
STEWARDSHIP FINL CORP COM 860326107 603 58,793 SH   SOLE   58,793 0 0
SUMMIT FINANCIAL GROUP INC COM 86606G101 1,189 45,180 SH   SOLE   45,180 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 1,588 126,028 SH   SOLE   126,028 0 0
SUN BANCORP INC COM NEW 86663B201 2,200 90,515 SH   SOLE   90,515 0 0
SUNSHINE BANCORP INC COM 86777J108 3,011 131,263 SH   SOLE   131,263 0 0
TIMBERLAND BANCORP INC COM 887098101 2,241 84,407 SH   SOLE   84,407 0 0
TRICO BANCSHARES COM 896095106 2,014 53,187 SH   SOLE   53,187 0 0
TRUSTCO BK CORP N Y COM 898349105 1,701 184,928 SH   SOLE   184,928 0 0
UMPQUA HLDGS CORP COM 904214103 3,458 166,237 SH   SOLE   166,237 0 0
UNITED BANCSHARES INC OHIO COM 909458101 221 9,955 SH   SOLE   9,955 0 0
UNITED SECURITY BANCSHARES C COM 911460103 1,754 159,473 SH   SOLE   159,473 0 0
WASHINGTONFIRST BANKSHARES I COM 940730104 13,002 379,485 SH   SOLE   379,485 0 0
WATERSTONE FINL INC MD COM 94188P101 3,140 184,167 SH   SOLE   184,167 0 0
WINTRUST FINL CORP COM 97650W108 4,314 52,376 SH   SOLE   52,376 0 0
WVS FINL CORP COM 929358109 995 64,231 SH   SOLE   64,231 0 0
XENITH BANKSHARES INC NEW COM NEW 984102202 17,783 525,663 SH   SOLE   525,663 0 0