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 1,699 137,044 SH   SOLE   137,044 0 0
AMERICAN RIVER BANKSHARES COM 029326105 243 22,801 SH   SOLE   22,801 0 0
AMERIS BANCORP COM 03076K108 841 35,648 SH   SOLE   35,648 0 0
AMERISERV FINL INC COM 03074A102 1,823 591,690 SH   SOLE   591,690 0 0
ASSOCIATED BANC CORP COM 045487105 508 37,100 SH   SOLE   37,100 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 2,841 233,648 SH   SOLE   233,648 0 0
BANK COMM HLDGS COM 06424J103 3,659 482,743 SH   SOLE   482,743 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 156 16,502 SH   SOLE   16,502 0 0
BANK PRINCETON NEW JERSEY COM 064520109 1,465 72,951 SH   SOLE   72,951 0 0
BANKFINANCIAL CORP COM 06643P104 2,349 279,626 SH   SOLE   279,626 0 0
BANKUNITED INC COM 06652K103 7,911 390,659 SH   SOLE   390,659 0 0
BANKWELL FINL GROUP INC COM 06654A103 849 53,369 SH   SOLE   53,369 0 0
BANNER CORP COM NEW 06652V208 4,603 121,124 SH   SOLE   121,124 0 0
BAYCOM CORP COM 07272M107 1,397 108,230 SH   SOLE   108,230 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 3,933 356,921 SH   SOLE   356,921 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 201 13,222 SH   SOLE   13,222 0 0
BUSINESS FIRST BANCSHARES IN COM 12326C105 161 10,475 SH   SOLE   10,475 0 0
BYLINE BANCORP INC COM 124411109 576 43,968 SH   SOLE   43,968 0 0
C & F FINL CORP COM 12466Q104 1,415 42,563 SH   SOLE   42,563 0 0
CADENCE BANCORPORATION CL A 12739A100 2,833 319,746 SH   SOLE   319,746 0 0
CAPSTAR FINL HLDGS INC COM 14070T102 6,570 547,501 SH   SOLE   547,501 0 0
CARTER BK & TR MARTINSVILLE COM 146102108 307 38,032 SH   SOLE   38,032 0 0
CBM BANCORP INC COM 1248XT104 243 19,764 SH   SOLE   19,764 0 0
CENTRAL FED CORP COM NEW 15346Q202 747 71,646 SH   SOLE   71,646 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 3,371 219,059 SH   SOLE   219,059 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 3,588 232,989 SH   SOLE   232,989 0 0
CODORUS VY BANCORP INC COM 192025104 884 63,905 SH   SOLE   63,905 0 0
COLONY BANKCORP INC COM 19623P101 588 49,921 SH   SOLE   49,921 0 0
COLUMBIA FINL INC COM 197641103 1,596 114,344 SH   SOLE   114,344 0 0
COMERICA INC COM 200340107 818 21,460 SH   SOLE   21,460 0 0
COMMUNITY BANKERS TR CORP COM 203612106 715 129,941 SH   SOLE   129,941 0 0
COMMUNITY FINL CORP MD COM 20368X101 3,391 138,974 SH   SOLE   138,974 0 0
COMMUNITY FIRST BANCSHARES I COM 20369M104 258 30,937 SH   SOLE   30,937 0 0
COMMUNITY WEST BANCSHARES COM 204157101 600 71,255 SH   SOLE   71,255 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 580 35,966 SH   SOLE   35,966 0 0
COUNTY BANCORP INC COM 221907108 1,461 69,809 SH   SOLE   69,809 0 0
CUSTOMERS BANCORP INC COM 23204G100 8,650 719,671 SH   SOLE   719,671 0 0
EAGLE BANCORP INC MD COM 268948106 2,280 69,606 SH   SOLE   69,606 0 0
EAGLE BANCORP MONT INC COM 26942G100 794 45,664 SH   SOLE   45,664 0 0
ENTERPRISE BANCORP INC MASS COM 293668109 874 36,679 SH   SOLE   36,679 0 0
F N B CORP COM 302520101 327 43,549 SH   SOLE   43,549 0 0
FFBW INC COM 30258M107 549 63,808 SH   SOLE   63,808 0 0
FINANCIAL INSTNS INC COM 317585404 3,982 213,996 SH   SOLE   213,996 0 0
FIRST BANK WILLIAMSTOWN NJ COM 31931U102 2,166 332,134 SH   SOLE   332,134 0 0
FIRST BUS FINL SVCS INC WIS COM 319390100 2,093 127,233 SH   SOLE   127,233 0 0
FIRST CHOICE BANCORP COM 31948P104 3,436 209,773 SH   SOLE   209,773 0 0
FIRST CMNTY CORP S C COM 319835104 755 49,829 SH   SOLE   49,829 0 0
FIRST COMWLTH FINL CORP PA COM 319829107 456 55,079 SH   SOLE   55,079 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 1,787 184,395 SH   SOLE   184,395 0 0
FIRST FINL CORP IND COM 320218100 3,411 92,595 SH   SOLE   92,595 0 0
FIRST GTY BANCSHARES INC COM 32043P106 601 49,168 SH   SOLE   49,168 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 1,012 75,810 SH   SOLE   75,810 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,656 133,368 SH   SOLE   133,368 0 0
FIRST US BANCSHARES INC COM 33744V103 680 97,266 SH   SOLE   97,266 0 0
FIRST WESTN FINL INC COM 33751L105 735 51,573 SH   SOLE   51,573 0 0
FLUSHING FINL CORP COM 343873105 1,074 93,196 SH   SOLE   93,196 0 0
FRANKLIN FINL NETWORK INC COM 35352P104 2,248 87,306 SH   SOLE   87,306 0 0
FS BANCORP INC COM 30263Y104 4,383 113,645 SH   SOLE   113,645 0 0
FULTON FINL CORP PA COM 360271100 107 10,200 SH   SOLE   10,200 0 0
GLEN BURNIE BANCORP COM 377407101 289 34,050 SH   SOLE   34,050 0 0
GREAT SOUTHN BANCORP INC COM 390905107 1,890 46,819 SH   SOLE   46,819 0 0
GREAT WESTN BANCORP INC COM 391416104 6,112 444,150 SH   SOLE   444,150 0 0
GUARANTY FED BANCSHARES INC COM 40108P101 725 47,531 SH   SOLE   47,531 0 0
HANMI FINL CORP COM NEW 410495204 153 15,721 SH   SOLE   15,721 0 0
HARBORONE BANCORP INC COM 41165F101 175 20,507 SH   SOLE   20,507 0 0
HEARTLAND FINL USA INC COM 42234Q102 1,194 35,696 SH   SOLE   35,696 0 0
HERITAGE COMMERCE CORP COM 426927109 2,831 377,253 SH   SOLE   377,253 0 0
HILLTOP HOLDINGS INC COM 432748101 12,849 696,398 SH   SOLE   696,398 0 0
HMN FINL INC COM 40424G108 410 28,053 SH   SOLE   28,053 0 0
HOME BANCORP INC COM 43689E107 1,354 50,616 SH   SOLE   50,616 0 0
HOMETRUST BANCSHARES INC COM 437872104 842 52,642 SH   SOLE   52,642 0 0
HOPE BANCORP INC COM 43940T109 3,265 354,082 SH   SOLE   354,082 0 0
HORIZON BANCORP INC COM 440407104 407 38,117 SH   SOLE   38,117 0 0
INTERNATIONAL BANCSHARES COR COM 459044103 9,006 281,250 SH   SOLE   281,250 0 0
INVESTORS BANCORP INC NEW COM 46146L101 963 113,331 SH   SOLE   113,331 0 0
LAKELAND BANCORP INC COM 511637100 1,533 134,078 SH   SOLE   134,078 0 0
LIMESTONE BANCORP INC COM 53262L105 298 22,646 SH   SOLE   22,646 0 0
MACATAWA BK CORP COM 554225102 625 79,984 SH   SOLE   79,984 0 0
MACKINAC FINL CORP COM 554571109 1,030 99,289 SH   SOLE   99,289 0 0
MAINSTREET BANCSHARES INC COM 56064Y100 142 10,778 SH   SOLE   10,778 0 0
MALVERN BANCORP INC COM 561409103 516 40,498 SH   SOLE   40,498 0 0
MERCHANTS BANCORP IND COM 58844R108 2,158 116,723 SH   SOLE   116,723 0 0
MERIDIAN BANCORP INC MD COM 58958U103 763 65,745 SH   SOLE   65,745 0 0
MERIDIAN CORPORATION COM 58958P104 878 55,396 SH   SOLE   55,396 0 0
METROPOLITAN BK HLDG CORP COM 591774104 1,508 47,016 SH   SOLE   47,016 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 1,198 59,904 SH   SOLE   59,904 0 0
NORTHEAST BANCORP COM NEW 663904209 3,624 206,502 SH   SOLE   206,502 0 0
NORTHWEST BANCSHARES INC MD COM 667340103 598 58,463 SH   SOLE   58,463 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 363 28,594 SH   SOLE   28,594 0 0
OLD SECOND BANCORP INC ILL COM 680277100 120 15,391 SH   SOLE   15,391 0 0
OP BANCORP COM 67109R109 3,438 498,298 SH   SOLE   498,298 0 0
ORRSTOWN FINL SVCS INC COM 687380105 617 41,834 SH   SOLE   41,834 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 2,519 688,269 SH   SOLE   688,269 0 0
PACIFIC PREMIER BANCORP COM 69478X105 3,492 161,075 SH   SOLE   161,075 0 0
PACWEST BANCORP DEL COM 695263103 13,396 679,650 SH   SOLE   679,650 0 0
PARKE BANCORP INC COM 700885106 3,130 230,963 SH   SOLE   230,963 0 0
PCB BANCORP COM 69320M109 1,987 192,919 SH   SOLE   192,919 0 0
PCSB FINL CORP COM 69324R104 134 10,572 SH   SOLE   10,572 0 0
PDL CMNTY BANCORP COM 69290X101 131 12,876 SH   SOLE   12,876 0 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 1,049 56,026 SH   SOLE   56,026 0 0
PEOPLES BANCORP INC COM 709789101 311 14,624 SH   SOLE   14,624 0 0
PLUMAS BANCORP COM 729273102 637 28,801 SH   SOLE   28,801 0 0
PREMIER FINL BANCORP INC COM 74050M105 1,456 113,559 SH   SOLE   113,559 0 0
PROVIDENT BANCORP INC COM 74383X109 1,124 143,002 SH   SOLE   143,002 0 0
QCR HOLDINGS INC COM 74727A104 374 11,996 SH   SOLE   11,996 0 0
RANDOLPH BANCORP INC COM 752378109 1,967 195,706 SH   SOLE   195,706 0 0
RBB BANCORP COM 74930B105 3,792 277,803 SH   SOLE   277,803 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 4,711 1,930,713 SH   SOLE   1,930,713 0 0
RIVERVIEW BANCORP INC COM 769397100 91 16,135 SH   SOLE   16,135 0 0
RIVERVIEW FINL CORP NEW COM 76940Q105 184 34,231 SH   SOLE   34,231 0 0
SB FINL GROUP INC COM 78408D105 1,188 71,474 SH   SOLE   71,474 0 0
SB ONE BANCORP COM 78413T103 2,744 139,314 SH   SOLE   139,314 0 0
SELECT BANCORP INC NEW COM 81617L108 1,919 235,711 SH   SOLE   235,711 0 0
SHORE BANCSHARES INC COM 825107105 1,298 117,031 SH   SOLE   117,031 0 0
SIERRA BANCORP COM 82620P102 1,560 82,633 SH   SOLE   82,633 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 360 21,025 SH   SOLE   21,025 0 0
SMARTFINANCIAL INC COM NEW 83190L208 2,172 134,241 SH   SOLE   134,241 0 0
SOUND FINL BANCORP INC COM 83607A100 911 37,718 SH   SOLE   37,718 0 0
SOUTH PLAINS FINANCIAL INC COM 83946P107 321 22,570 SH   SOLE   22,570 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 1,638 169,083 SH   SOLE   169,083 0 0
STERLING BANCORP DEL COM 85917A100 109 30,398 SH   SOLE   30,398 0 0
STERLING BANCORP INC COM 85917W102 594 50,696 SH   SOLE   50,696 0 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 696 77,640 SH   SOLE   77,640 0 0
SYNOVUS FINL CORP COM NEW 87161C501 3,429 167,025 SH   SOLE   167,025 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 2,515 81,467 SH   SOLE   81,467 0 0
TIMBERLAND BANCORP INC COM 887098101 1,210 66,445 SH   SOLE   66,445 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 201 10,646 SH   SOLE   10,646 0 0
TRUSTCO BK CORP N Y COM 898349105 987 155,983 SH   SOLE   155,983 0 0
UMB FINL CORP COM 902788108 896 17,381 SH   SOLE   17,381 0 0
UMPQUA HLDGS CORP COM 904214103 153 14,402 SH   SOLE   14,402 0 0
UNITED BANCSHARES INC OHIO COM 909458101 246 13,671 SH   SOLE   13,671 0 0
UNITY BANCORP INC COM 913290102 212 14,801 SH   SOLE   14,801 0 0
WATERSTONE FINL INC MD COM 94188P101 913 61,535 SH   SOLE   61,535 0 0
WESBANCO INC COM 950810101 1,824 89,813 SH   SOLE   89,813 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 641 110,725 SH   SOLE   110,725 0 0
WINTRUST FINL CORP COM 97650W108 12,879 295,265 SH   SOLE   295,265 0 0
WVS FINL CORP COM 929358109 170 12,878 SH   SOLE   12,878 0 0
ZIONS BANCORPORATION N A COM 989701107 662 19,459 SH   SOLE   19,459 0 0