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
ALLEGIANCE BANCSHARES INC COM 01748H107 5,953 184,000 SH   SOLE   184,000 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 5,408 185,000 SH   SOLE   185,000 0 0
AMERIS BANCORP COM 03076K108 12,678 400,000 SH   SOLE   400,000 0 0
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101 2,397 135,000 SH   SOLE   135,000 0 0
ASSURANT INC COM 04621X108 2,407 27,000 SH   SOLE   27,000 0 0
ASSURED GUARANTY LTD COM G0585R106 2,480 65,000 SH   SOLE   65,000 0 0
BANK7 CORP COM 06652N107 4,739 355,000 SH   SOLE   355,000 0 0
BAYCOM CORP COM 07272M107 9,820 425,000 SH   SOLE   425,000 0 0
BGC PARTNERS INC CL A 05541T101 173 33,000 SH   SOLE   33,000 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 3,796 275,000 SH   SOLE   275,000 0 0
BRYN MAWR BK CORP COM 117665109 1,081 31,000 SH   SOLE   31,000 0 0
BSB BANCORP INC MD COM 05573H108 8,158 291,000 SH   SOLE   291,000 0 0
BYLINE BANCORP INC COM 124411109 4,744 285,000 SH   SOLE   285,000 0 0
CAPITAL BANCORP INC MD COM 139737100 3,999 350,000 SH   SOLE   350,000 0 0
CENTERSTATE BK CORP COM 15201P109 6,591 313,000 SH   SOLE   313,000 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 10,026 920,000 SH   SOLE   920,000 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 3,096 178,000 SH   SOLE   178,000 0 0
COASTAL FINL CORP WA COM NEW 19046P209 3,310 217,000 SH   SOLE   217,000 0 0
CODORUS VY BANCORP INC COM 192025104 2,503 118,000 SH   SOLE   118,000 0 0
COWEN INC CL A NEW 223622606 2,458 184,000 SH   SOLE   184,000 0 0
CVB FINL CORP COM 126600105 2,746 136,000 SH   SOLE   136,000 0 0
DNB FINL CORP COM 233237106 4,039 142,000 SH   SOLE   142,000 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 303 7,000 SH   SOLE   7,000 0 0
ELLINGTON FINANCIAL LLC COM 288522303 2,733 178,000 SH   SOLE   178,000 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 22,964 651,000 SH   SOLE   651,000 0 0
ESSENT GROUP LTD COM G3198U102 2,550 75,000 SH   SOLE   75,000 0 0
EVANS BANCORP INC COM NEW 29911Q208 15,192 467,000 SH   SOLE   467,000 0 0
EXANTAS CAP CORP COM NEW 30068N105 2,393 239,000 SH   SOLE   239,000 0 0
FFBW INC COM 30258M107 251 25,000 SH   SOLE   25,000 0 0
FIFTH THIRD BANCORP COM 316773100 232 10,000 SH   SOLE   10,000 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 15,978 1,318,000 SH   SOLE   1,318,000 0 0
FIRST FINL BANCORP OH COM 320209109 1,093 46,000 SH   SOLE   46,000 0 0
FIRST INTERNET BANCORP COM 320557101 3,932 192,000 SH   SOLE   192,000 0 0
FIRST MID ILL BANCSHARES INC COM 320866106 2,431 76,000 SH   SOLE   76,000 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 3,087 156,000 SH   SOLE   156,000 0 0
FIRST SAVINGS FINL GROUP INC COM 33621E109 7,198 139,000 SH   SOLE   139,000 0 0
FIRST WESTN FINL INC COM 33751L105 4,691 401,000 SH   SOLE   401,000 0 0
FNB CORP PA COM 302520101 4,178 425,000 SH   SOLE   425,000 0 0
FVCBANKCORP INC COM 36120Q101 3,636 206,000 SH   SOLE   206,000 0 0
GERMAN AMERN BANCORP INC COM 373865104 3,606 130,000 SH   SOLE   130,000 0 0
GREAT AJAX CORP COM 38983D300 2,203 183,000 SH   SOLE   183,000 0 0
GREEN BANCORP INC COM 39260X100 7,797 455,000 SH   SOLE   455,000 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 21,278 1,025,000 SH   SOLE   1,025,000 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 8,779 402,000 SH   SOLE   402,000 0 0
HANOVER INS GROUP INC COM 410867105 202 2,000 SH   SOLE   2,000 0 0
HAWTHORN BANCSHARES INC COM 420476103 3,431 163,000 SH   SOLE   163,000 0 0
HOME BANCORP INC COM 43689E107 28,396 802,000 SH   SOLE   802,000 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 3,579 121,000 SH   SOLE   121,000 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 6,590 557,000 SH   SOLE   557,000 0 0
HOPFED BANCORP INC COM 439734104 7,731 582,000 SH   SOLE   582,000 0 0
HUNTINGTON BANCSHARES INC COM 446150104 200 17,000 SH   SOLE   17,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 12,567 598,000 SH   SOLE   598,000 0 0
INDEPENDENT BK GROUP INC COM 45384B106 17,944 392,000 SH   SOLE   392,000 0 0
INVESTAR HLDG CORP COM 46134L105 11,307 456,000 SH   SOLE   456,000 0 0
INVESTORS BANCORP INC NEW COM 46146L101 26,880 2,585,000 SH   SOLE   2,585,000 0 0
LEGACY HOUSING CORP COM 52472M101 1,074 90,000 SH   SOLE   90,000 0 0
LEVEL ONE BANCORP INC COM 52730D208 4,112 183,000 SH   SOLE   183,000 0 0
LUTHER BURBANK CORP COM 550550107 7,297 809,000 SH   SOLE   809,000 0 0
M & T BK CORP COM 55261F104 321 2,000 SH   SOLE   2,000 0 0
MACKINAC FINL CORP COM 554571109 6,519 478,000 SH   SOLE   478,000 0 0
MALVERN BANCORP INC COM 561409103 14,760 748,000 SH   SOLE   748,000 0 0
MBT FINL CORP COM 578877102 3,942 424,000 SH   SOLE   424,000 0 0
MERIDIAN CORPORATION COM 58958P104 4,408 257,000 SH   SOLE   257,000 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 23,770 1,064,000 SH   SOLE   1,064,000 0 0
MIDSOUTH BANCORP INC COM 598039105 8,426 795,000 SH   SOLE   795,000 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 10,390 418,000 SH   SOLE   418,000 0 0
MUTUALFIRST FINL INC COM 62845B104 6,985 263,000 SH   SOLE   263,000 0 0
NATIONAL BK HLDGS CORP CL A 633707104 20,737 672,000 SH   SOLE   672,000 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 1,057 112,000 SH   SOLE   112,000 0 0
OAKTREE SPECIALTY LENDING CO COM 67401P108 197 47,000 SH   SOLE   47,000 0 0
OCEANFIRST FINL CORP COM 675234108 41,597 1,848,000 SH   SOLE   1,848,000 0 0
OLD NATL BANCORP IND COM 680033107 6,914 449,000 SH   SOLE   449,000 0 0
OLD POINT FINL CORP COM 680194107 7,063 324,000 SH   SOLE   324,000 0 0
OLD SECOND BANCORP INC ILL COM 680277100 11,355 873,000 SH   SOLE   873,000 0 0
OTTAWA BANCORP INC COM 689195105 1,290 97,000 SH   SOLE   97,000 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 8,498 1,251,000 SH   SOLE   1,251,000 0 0
PACIFIC PREMIER BANCORP COM 69478X105 35,935 1,408,000 SH   SOLE   1,408,000 0 0
PB BANCORP INC COM 70454T100 364 34,000 SH   SOLE   34,000 0 0
PENNANTPARK INVT CORP COM 708062104 192 30,000 SH   SOLE   30,000 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 39,552 858,000 SH   SOLE   858,000 0 0
PROVIDENT BANCORP INC COM 74383X109 9,380 433,000 SH   SOLE   433,000 0 0
RBB BANCORP COM 74930B105 18,937 1,078,000 SH   SOLE   1,078,000 0 0
READY CAP CORP COM 75574U101 2,265 164,000 SH   SOLE   164,000 0 0
REINSURANCE GROUP AMER INC COM NEW 759351604 2,479 18,000 SH   SOLE   18,000 0 0
RELIANT BANCORP INC COM 75956B101 481 21,000 SH   SOLE   21,000 0 0
RIVERVIEW BANCORP INC COM 769397100 10,906 1,498,000 SH   SOLE   1,498,000 0 0
SB FINL GROUP INC COM 78408D105 3,420 208,000 SH   SOLE   208,000 0 0
SHORE BANCSHARES INC COM 825107105 7,248 498,000 SH   SOLE   498,000 0 0
SOLAR CAP LTD COM 83413U100 227 12,000 SH   SOLE   12,000 0 0
SOUND FINL BANCORP INC COM 83607A100 6,177 190,000 SH   SOLE   190,000 0 0
SOUTHERN MO BANCORP INC COM 843380106 24,264 716,000 SH   SOLE   716,000 0 0
SPIRIT OF TEX BANCSHARES INC COM 84861D103 14,031 616,000 SH   SOLE   616,000 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 251 6,000 SH   SOLE   6,000 0 0
STATE STR CORP COM 857477103 272 4,000 SH   SOLE   4,000 0 0
STERLING BANCORP DEL COM 85917A100 495 30,000 SH   SOLE   30,000 0 0
TPG SPECIALTY LENDING INC COM 87265K102 183 10,000 SH   SOLE   10,000 0 0
TRISTATE CAP HLDGS INC COM 89678F100 3,683 189,000 SH   SOLE   189,000 0 0
TRIUMPH BANCORP INC COM 89679E300 1,429 48,000 SH   SOLE   48,000 0 0
UNION BANKSHARES CORP NEW COM 90539J109 9,920 351,000 SH   SOLE   351,000 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 22,233 2,512,000 SH   SOLE   2,512,000 0 0
UNITED FINL BANCORP INC NEW COM 910304104 30,815 2,096,000 SH   SOLE   2,096,000 0 0
UNITED SECURITY BANCSHARES C COM 911460103 2,030 212,000 SH   SOLE   212,000 0 0
UNIVEST CORP PA COM 915271100 4,843 225,000 SH   SOLE   225,000 0 0
VERITEX HLDGS INC COM 923451108 49,938 2,336,000 SH   SOLE   2,336,000 0 0
WCF BANCORP INC COM 92940L103 360 44,000 SH   SOLE   44,000 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 2,720 271,000 SH   SOLE   271,000 0 0
ZIONS BANCORPORATION N A COM 989701107 2,158 53,000 SH   SOLE   53,000 0 0