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 52,030 1,025,830 SH   SOLE   1,025,830 0 0
AIR LEASE CORP CL A 00912X302 30,830 723,363 SH   SOLE   723,363 0 0
ALLY FINL INC COM 02005N100 147,129 5,419,109 SH   SOLE   5,419,109 0 0
AMERICAN RIVER BANKSHARES COM 029326105 9,662 622,933 SH   SOLE   622,933 0 0
ANIXTER INTL INC COM 035290105 137 1,806 SH   SOLE   1,806 0 0
APPLE INC COM 037833100 2,566 15,296 SH   SOLE   15,296 0 0
ATLANTIC COAST FINL CORP COM 048426100 144 13,963 SH   SOLE   13,963 0 0
AV HOMES INC COM 00234P102 11,944 643,885 SH   SOLE   643,885 0 0
BANK AMER CORP COM 060505104 34,885 1,163,234 SH   SOLE   1,163,234 0 0
BANK COMM HLDGS COM 06424J103 6,847 587,693 SH   SOLE   587,693 0 0
BANK OF MARIN BANCORP COM 063425102 7,623 110,558 SH   SOLE   110,558 0 0
BANK NEW YORK MELLON CORP COM 064058100 8,240 159,912 SH   SOLE   159,912 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 6,130 400,927 SH   SOLE   400,927 0 0
BANNER CORP COM NEW 06652V208 2,856 51,465 SH   SOLE   51,465 0 0
BAY BANCORP INC COM 07203T106 2,526 189,243 SH   SOLE   189,243 0 0
BEACON ROOFING SUPPLY INC COM 073685109 18,787 354,004 SH   SOLE   354,004 0 0
BELDEN INC COM 077454106 4,702 68,208 SH   SOLE   68,208 0 0
BLACK KNIGHT INC COM 09215C105 4,826 102,472 SH   SOLE   102,472 0 0
BLACKHAWK NETWORK HLDGS INC COM 09238E104 140 3,129 SH   SOLE   3,129 0 0
BOFI HLDG INC COM 05566U108 19,491 480,899 SH   SOLE   480,899 0 0
BRIDGE BANCORP INC COM 108035106 68,345 2,037,120 SH   SOLE   2,037,120 0 0
BRIDGEWATER BANCSHARES INC COM ACCD INV 108621103 4,726 361,614 SH   SOLE   361,614 0 0
BRYN MAWR BK CORP COM 117665109 11,381 258,952 SH   SOLE   258,952 0 0
BYLINE BANCORP INC COM 124411109 3,077 134,180 SH   SOLE   134,180 0 0
CAMBRIDGE BANCORP COM 132152109 12,083 138,411 SH   SOLE   138,411 0 0
CAMDEN NATL CORP COM 133034108 14,474 325,260 SH   SOLE   325,260 0 0
CANNAE HLDGS INC COM 13765N107 2,101 111,383 SH   SOLE   111,383 0 0
CAPITAL CITY BK GROUP INC COM 139674105 948 38,283 SH   SOLE   38,283 0 0
CAPITAL ONE FINL CORP COM 14040H105 45,442 474,242 SH   SOLE   474,242 0 0
CARLISLE COS INC COM 142339100 35,277 337,866 SH   SOLE   337,866 0 0
CAROLINA FINL CORP NEW COM 143873107 1,838 46,787 SH   SOLE   46,787 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 8,039 410,996 SH   SOLE   410,996 0 0
CENTURY CMNTYS INC COM 156504300 20,814 694,950 SH   SOLE   694,950 0 0
CHEMUNG FINL CORP COM 164024101 9,431 202,954 SH   SOLE   202,954 0 0
CITIGROUP INC COM NEW 172967424 16,591 245,792 SH   SOLE   245,792 0 0
CITIZENS FINL GROUP INC COM 174610105 37,954 904,090 SH   SOLE   904,090 0 0
CLIFTON BANCORP INC COM 186873105 138 8,838 SH   SOLE   8,838 0 0
CODORUS VY BANCORP INC COM 192025104 5,641 200,591 SH   SOLE   200,591 0 0
COMERICA INC COM 200340107 15,458 161,137 SH   SOLE   161,137 0 0
COUSINS PPTYS INC COM 222795106 127 14,659 SH   SOLE   14,659 0 0
CSX CORP COM 126408103 143 2,575 SH   SOLE   2,575 0 0
DANA INCORPORATED COM 235825205 4,185 162,469 SH   SOLE   162,469 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 4,039 73,690 SH   SOLE   73,690 0 0
DIME CMNTY BANCSHARES COM 253922108 14,923 811,012 SH   SOLE   811,012 0 0
DNB FINL CORP COM 233237106 6,206 174,076 SH   SOLE   174,076 0 0
DST SYS INC DEL COM 233326107 144 1,722 SH   SOLE   1,722 0 0
EAGLE BANCORP INC MD COM 268948106 12,368 206,657 SH   SOLE   206,657 0 0
EAST WEST BANCORP INC COM 27579R104 2,376 37,989 SH   SOLE   37,989 0 0
EMCOR GROUP INC COM 29084Q100 12,570 161,305 SH   SOLE   161,305 0 0
ENERSYS COM 29275Y102 3,647 52,579 SH   SOLE   52,579 0 0
ENSCO PLC SHS CLASS A G3157S106 35 7,986 SH   SOLE   7,986 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 2,849 80,743 SH   SOLE   80,743 0 0
ESQUIRE FINL HLDGS INC COM 29667J101 11,594 475,180 SH   SOLE   475,180 0 0
ESSENT GROUP LTD COM G3198U102 2,952 69,369 SH   SOLE   69,369 0 0
EXXON MOBIL CORP COM 30231G102 121 1,626 SH   SOLE   1,626 0 0
FARMERS CAP BK CORP COM 309562106 9,235 231,172 SH   SOLE   231,172 0 0
FAUQUIER BANKSHARES INC VA COM 312059108 504 23,996 SH   SOLE   23,996 0 0
FCB FINL HLDGS INC CL A 30255G103 7,478 146,344 SH   SOLE   146,344 0 0
FEDEX CORP COM 31428X106 129 537 SH   SOLE   537 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 13,374 334,183 SH   SOLE   334,183 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 14,145 146,883 SH   SOLE   146,883 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 3,065 132,870 SH   SOLE   132,870 0 0
FIFTH THIRD BANCORP COM 316773100 6,363 200,400 SH   SOLE   200,400 0 0
FINANCIAL INSTNS INC COM 317585404 11,290 381,426 SH   SOLE   381,426 0 0
FIRST AMERN FINL CORP COM 31847R102 7,884 134,358 SH   SOLE   134,358 0 0
FIRST BANCORP N C COM 318910106 4,394 123,266 SH   SOLE   123,266 0 0
FIRST BUSEY CORP COM NEW 319383204 3,483 117,193 SH   SOLE   117,193 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103 6,210 15,028 SH   SOLE   15,028 0 0
FIRST FNDTN INC COM 32026V104 38,867 2,096,367 SH   SOLE   2,096,367 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 614 21,003 SH   SOLE   21,003 0 0
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 12,571 317,854 SH   SOLE   317,854 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 905 13,024 SH   SOLE   13,024 0 0
FIRST UTD CORP COM 33741H107 4,096 213,354 SH   SOLE   213,354 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 22,592 638,199 SH   SOLE   638,199 0 0
FNB CORP PA COM 302520101 25,985 1,932,007 SH   SOLE   1,932,007 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 6,356 194,968 SH   SOLE   194,968 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 4,189 147,758 SH   SOLE   147,758 0 0
HANCOCK HLDG CO COM 410120109 12,387 239,601 SH   SOLE   239,601 0 0
HARLEY DAVIDSON INC COM 412822108 19,477 454,214 SH   SOLE   454,214 0 0
HERITAGE FINL CORP WASH COM 42722X106 1,906 62,272 SH   SOLE   62,272 0 0
HOME BANCSHARES INC COM 436893200 5,873 257,494 SH   SOLE   257,494 0 0
HOMESTREET INC COM 43785V102 5,881 205,279 SH   SOLE   205,279 0 0
HONEYWELL INTL INC COM 438516106 23,577 163,150 SH   SOLE   163,150 0 0
HUNTINGTON BANCSHARES INC COM 446150104 8,121 537,831 SH   SOLE   537,831 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 15,155 661,802 SH   SOLE   661,802 0 0
INSTALLED BLDG PRODS INC COM 45780R101 9,853 164,076 SH   SOLE   164,076 0 0
ISHARES TR U.S. REAL ES ETF 464287739 139 1,837 SH   SOLE   1,837 0 0
J ALEXANDERS HLDGS INC COM 46609J106 220 19,238 SH   SOLE   19,238 0 0
JPMORGAN CHASE & CO COM 46625H100 80,609 733,012 SH   SOLE   733,012 0 0
KEYCORP NEW COM 493267108 5,986 306,164 SH   SOLE   306,164 0 0
KINDER MORGAN INC DEL COM 49456B101 1,900 126,163 SH   SOLE   126,163 0 0
KORN FERRY INTL COM NEW 500643200 2,212 42,870 SH   SOLE   42,870 0 0
LAKELAND BANCORP INC COM 511637100 3,687 185,729 SH   SOLE   185,729 0 0
LEAR CORP COM NEW 521865204 23,158 124,445 SH   SOLE   124,445 0 0
LENNAR CORP CL B 526057302 316 6,617 SH   SOLE   6,617 0 0
LENNAR CORP CL A 526057104 34,966 593,248 SH   SOLE   593,248 0 0
LUTHER BURBANK CORP COM 550550107 18,881 1,572,070 SH   SOLE   1,572,070 0 0
M & T BK CORP COM 55261F104 1,074 5,823 SH   SOLE   5,823 0 0
M/I HOMES INC COM 55305B101 15,713 493,329 SH   SOLE   493,329 0 0
MARLIN BUSINESS SVCS CORP COM 571157106 18,057 636,916 SH   SOLE   636,916 0 0
MASCO CORP COM 574599106 7,059 174,565 SH   SOLE   174,565 0 0
MB FINANCIAL INC NEW COM 55264U108 6,154 152,017 SH   SOLE   152,017 0 0
MBT FINL CORP COM 578877102 1,903 177,018 SH   SOLE   177,018 0 0
MERCHANTS BANCORP IND COM 58844R108 30,443 1,415,970 SH   SOLE   1,415,970 0 0
MERIDIAN BK PAOLI PA COM 58958P104 10,590 599,501 SH   SOLE   599,501 0 0
MERITAGE HOMES CORP COM 59001A102 126 2,795 SH   SOLE   2,795 0 0
METROPOLITAN BK HLDG CORP COM 591774104 25,483 605,153 SH   SOLE   605,153 0 0
MIDSOUTH BANCORP INC COM 598039105 20,747 1,640,077 SH   SOLE   1,640,077 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 5,623 168,906 SH   SOLE   168,906 0 0
MORGAN STANLEY COM NEW 617446448 136 2,518 SH   SOLE   2,518 0 0
NCR CORP NEW COM 62886E108 3,960 125,642 SH   SOLE   125,642 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 14,615 275,914 SH   SOLE   275,914 0 0
OLD LINE BANCSHARES INC COM 67984M100 459 13,911 SH   SOLE   13,911 0 0
OLD NATL BANCORP IND COM 680033107 9,331 552,157 SH   SOLE   552,157 0 0
OLD POINT FINL CORP COM 680194107 263 9,965 SH   SOLE   9,965 0 0
ONEMAIN HLDGS INC COM 68268W103 86,480 2,888,446 SH   SOLE   2,888,446 0 0
OP BANCORP COM 67109R109 3,690 296,402 SH   SOLE   296,402 0 0
ORRSTOWN FINL SVCS INC COM 687380105 10,262 424,940 SH   SOLE   424,940 0 0
OWENS CORNING NEW COM 690742101 30,315 377,054 SH   SOLE   377,054 0 0
PACIFIC PREMIER BANCORP COM 69478X105 16,593 412,763 SH   SOLE   412,763 0 0
PACWEST BANCORP DEL COM 695263103 26,497 534,965 SH   SOLE   534,965 0 0
PARKE BANCORP INC COM 700885106 146 7,000 SH   SOLE   7,000 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 29,459 882,284 SH   SOLE   882,284 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 43,305 1,911,938 SH   SOLE   1,911,938 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 3,826 205,063 SH   SOLE   205,063 0 0
PNC FINL SVCS GROUP INC COM 693475105 4,806 31,778 SH   SOLE   31,778 0 0
POPULAR INC COM NEW 733174700 2,219 53,325 SH   SOLE   53,325 0 0
PREFERRED BK LOS ANGELES CA COM NEW 740367404 12,978 202,148 SH   SOLE   202,148 0 0
PREMIER FINL BANCORP INC COM 74050M105 6,393 343,545 SH   SOLE   343,545 0 0
PROVIDENT BANCORP INC COM 74383X109 5,407 203,647 SH   SOLE   203,647 0 0
PULTE GROUP INC COM 745867101 5,273 178,806 SH   SOLE   178,806 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 637 23,098 SH Put SOLE   23,098 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 443 16,051 SH Put SOLE   16,051 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 28 108 SH Put SOLE   108 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 184 699 SH Put SOLE   699 0 0
QCR HOLDINGS INC COM 74727A104 2,491 55,550 SH   SOLE   55,550 0 0
RBB BANCORP COM 74930B105 2,724 103,294 SH   SOLE   103,294 0 0
REGIONAL MGMT CORP COM 75902K106 48,142 1,511,995 SH   SOLE   1,511,995 0 0
REGIONS FINL CORP NEW COM 7591EP100 47,603 2,562,079 SH   SOLE   2,562,079 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 4,010 460,937 SH   SOLE   460,937 0 0
REV GROUP INC COM 749527107 1,604 77,256 SH   SOLE   77,256 0 0
S&P GLOBAL INC COM 78409V104 152 793 SH   SOLE   793 0 0
SANDY SPRING BANCORP INC COM 800363103 33,722 870,013 SH   SOLE   870,013 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 23,237 877,868 SH   SOLE   877,868 0 0
SHORE BANCSHARES INC COM 825107105 9,770 518,035 SH   SOLE   518,035 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 1,978 13,935 SH   SOLE   13,935 0 0
SVB FINL GROUP COM 78486Q101 8,140 33,917 SH   SOLE   33,917 0 0
SOUTH ST CORP COM 840441109 4,516 52,946 SH   SOLE   52,946 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 5,756 129,353 SH   SOLE   129,353 0 0
STATE STR CORP COM 857477103 4,475 44,868 SH   SOLE   44,868 0 0
STERLING BANCORP DEL COM 85917A100 49,073 2,176,197 SH   SOLE   2,176,197 0 0
STERLING BANCORP INC COM 85917W102 33,335 2,467,405 SH   SOLE   2,467,405 0 0
STEWARDSHIP FINL CORP COM 860326107 5,097 463,409 SH   SOLE   463,409 0 0
STEWART INFORMATION SVCS COR COM 860372101 6,516 148,300 SH   SOLE   148,300 0 0
SUSSEX BANCORP COM 869245100 13,696 450,531 SH   SOLE   450,531 0 0
SYNOVUS FINL CORP COM NEW 87161C501 14,557 291,486 SH   SOLE   291,486 0 0
TAYLOR MORRISON HOME CORP CL A 87724P106 14,728 632,643 SH   SOLE   632,643 0 0
COMMUNITY FINL CORP MD COM 20368X101 15,298 411,009 SH   SOLE   411,009 0 0
FIRST BANCSHARES INC MS COM 318916103 1,557 48,283 SH   SOLE   48,283 0 0
FIRST LONG IS CORP COM 320734106 36,731 1,338,105 SH   SOLE   1,338,105 0 0
TOLL BROTHERS INC COM 889478103 4,501 104,068 SH   SOLE   104,068 0 0
TRICO BANCSHARES COM 896095106 5,136 137,982 SH   SOLE   137,982 0 0
UNITED BANKSHARES INC WEST V COM 909907107 6,351 180,165 SH   SOLE   180,165 0 0
US BANCORP DEL COM NEW 902973304 71,276 1,411,397 SH   SOLE   1,411,397 0 0
VALLEY NATL BANCORP COM 919794107 1,130 90,722 SH   SOLE   90,722 0 0
VERITEX HLDGS INC COM 923451108 16,833 608,350 SH   SOLE   608,350 0 0
WALMART INC COM 931142103 120 1,353 SH   SOLE   1,353 0 0
WASTE MGMT INC DEL COM 94106L109 137 1,630 SH   SOLE   1,630 0 0
WELLS FARGO CO NEW COM 949746101 96,360 1,838,577 SH   SOLE   1,838,577 0 0
WESTERN ALLIANCE BANCORP COM 957638109 4,376 75,297 SH   SOLE   75,297 0 0
LYON WILLIAM HOMES CL A NEW 552074700 587 21,356 SH   SOLE   21,356 0 0
WINTRUST FINL CORP COM 97650W108 3,985 46,316 SH   SOLE   46,316 0 0
ZIONS BANCORPORATION COM 989701107 18,894 358,324 SH   SOLE   358,324 0 0