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
AJS Bancorp, Inc. COM 001503101 2,074 170,000 SH   SOLE   170,000 0 0
Astoria Financial Corporation COM 046265104 2,354 175,000 SH   SOLE   175,000 0 0
American International Group, Inc. COM 026874784 3,548 65,000 SH   SOLE   65,000 0 0
Alliance Bancorp, Inc. of Pennsylvania COM 01890A108 3,185 196,100 SH   SOLE   196,100 0 0
Ambac Financial Group, Inc. COM 023139884 12,298 450,300 SH   SOLE   450,300 0 0
Call - AMBC $16.67 Exp 4/30/2023 Warrant 023139116 1,678 100,000 SH   SOLE   100,000 0 0
American Homes 4 Rent CL A 02665T306 13,196 743,000 SH   SOLE   743,000 0 0
American River Bankshares COM 029326105 6,066 694,000 SH   SOLE   694,000 0 0
Access National Corporation COM 004337101 2,047 135,000 SH   SOLE   135,000 0 0
ASB Bancorp, Inc. COM 00213T109 2,600 124,000 SH   SOLE   124,000 0 0
BancFirst Corporation COM 05945F103 5,788 93,500 SH   SOLE   93,500 0 0
Bridge Capital Holdings COM 108030107 3,813 157,500 SH   SOLE   157,500 0 0
Bridge Bancorp, Inc. COM 108035106 4,774 199,000 SH   SOLE   199,000 0 0
Franklin Resources, Inc. COM 354613101 1,076 18,600 SH   SOLE   18,600 0 0
Blackrock Kelso Capital Corporation COM 092533108 91 10,000 SH   SOLE   10,000 0 0
Bank Mutual Corporation COM 063750103 2,523 435,000 SH   SOLE   435,000 0 0
BankUnited, Inc. COM 06652K103 7,928 236,800 SH   SOLE   236,800 0 0
Bank of Marin Bancorp COM 063425102 5,316 116,600 SH   SOLE   116,600 0 0
Bank of Commerce Holdings COM 06424J103 506 80,000 SH   SOLE   80,000 0 0
Bay Banks of Virginia, Inc. COM 072035108 2,762 476,200 SH   SOLE   476,200 0 0
Boston Private Financial Holdings, Inc. COM 101119105 7,536 560,700 SH   SOLE   560,700 0 0
Sierra Bancorp COM 82620P102 3,440 217,700 SH   SOLE   217,700 0 0
First Busey Corporation COM 319383105 3,428 590,000 SH   SOLE   590,000 0 0
Carroll Bancorp, Inc. COM 144702107 760 47,169 SH   SOLE   47,169 0 0
Citigroup Inc. COM 172967424 4,696 99,700 SH   SOLE   99,700 0 0
Capital Bank Financial Corporation CL A COM 139794101 1,820 77,100 SH   SOLE   77,100 0 0
Chicopee Bancorp, Inc. COM 168565109 3,944 232,000 SH   SOLE   232,000 0 0
CNB Financial Corporation COM 126128107 1,294 77,000 SH   SOLE   77,000 0 0
Chemical Financial Corporation COM 163731102 7,980 284,200 SH   SOLE   284,200 0 0
Comerica Incorporated COM 200340107 7,629 152,100 SH   SOLE   152,100 0 0
Century Bancorp, Inc. CL A NON VTG 156432106 11,369 321,700 SH   SOLE   321,700 0 0
Colonial Financial Services, Inc. COM 19566B101 2,330 184,300 SH   SOLE   184,300 0 0
CoBiz Financial Inc. COM 190897108 8,563 795,100 SH   SOLE   795,100 0 0
Clifton Bancorp, Inc. COM 186873105 628 49,600 SH   SOLE   49,600 0 0
CenterState Banks, Inc. COM 15201P109 4,588 409,600 SH   SOLE   409,600 0 0
Coastway Bancorp, Inc. COM 190632109 5,317 486,000 SH   SOLE   486,000 0 0
City National Corporation COM 178566105 10,985 145,000 SH   SOLE   145,000 0 0
Citizens & Northern Corporation COM 172922106 3,037 155,800 SH   SOLE   155,800 0 0
Citizens Community Bancorp Inc. COM 174903104 732 86,100 SH   SOLE   86,100 0 0
DCB Financial Corp COM 233075100 2,025 270,000 SH   SOLE   270,000 0 0
D.R. Horton, Inc. COM 23331A109 1,966 80,000 SH   SOLE   80,000 0 0
DNB Financial Corporation COM 233237106 890 41,900 SH   SOLE   41,900 0 0
ESSA Bancorp, Inc. COM 29667D104 1,670 150,000 SH   SOLE   150,000 0 0
Community Bankers Trust Corporation COM 203612106 141 32,100 SH   SOLE   32,100 0 0
Evans Bancorp, Inc. COM 29911Q208 5,716 246,900 SH   SOLE   246,900 0 0
Evercore Partners Inc. Class A 29977A105 576 10,000 SH   SOLE   10,000 0 0
East West Bancorp, Inc. COM 27579R104 801 22,900 SH   SOLE   22,900 0 0
Eureka Financial Corporation COM 29855C108 1,080 59,000 SH   SOLE   59,000 0 0
Fairmount Bancorp Inc. COM 305468100 641 29,156 SH   SOLE   29,156 0 0
Flagstar Bancorp, Inc. COM 337930705 1,267 70,000 SH   SOLE   70,000 0 0
First Business Financial Services, Inc. COM 319390100 1,881 40,000 SH   SOLE   40,000 0 0
First Community Corporation COM 319835104 4,311 404,800 SH   SOLE   404,800 0 0
First Citizens BancShares, Inc. CL A 31946M103 8,796 35,900 SH   SOLE   35,900 0 0
1st Century Bancshares, Inc. COM 31943X102 6,821 899,900 SH   SOLE   899,900 0 0
First Capital Bancorp, Inc. COM 319438107 72 16,100 SH   SOLE   16,100 0 0
First Citizens Banc Corp, Inc. Series B Conv. Pfd. 6.50% PFD SER B 319459400 3,291 109,700 SH   SOLE   109,700 0 0
First Financial Bancorp. COM 320209109 8,658 503,100 SH   SOLE   503,100 0 0
Call - FFBC $12.90 Exp 12/23/2018 Warrant 320209117 77 13,984 SH   SOLE   13,984 0 0
Financial Institutions, Inc. COM 317585404 1,171 50,000 SH   SOLE   50,000 0 0
First Midwest Bancorp, Inc. COM 320867104 17,677 1,038,000 SH   SOLE   1,038,000 0 0
FirstMerit Corporation COM 337915102 4,142 209,700 SH   SOLE   209,700 0 0
First Merchants Corporation COM 320817109 252 11,900 SH   SOLE   11,900 0 0
First South Bancorp, Inc. COM 33646W100 160 20,000 SH   SOLE   20,000 0 0
1st United Bancorp, Inc. COM 33740N105 3,879 450,000 SH   SOLE   450,000 0 0
Fox Chase Bancorp, Inc. COM 35137T108 7,807 463,021 SH   SOLE   463,021 0 0
Fraternity Community Bancorp, Inc. COM 35553P101 2,023 134,700 SH   SOLE   134,700 0 0
Guaranty Bancorp COM 40075T607 7,228 520,000 SH   SOLE   520,000 0 0
Georgetown Bancorp, Inc. COM 372591107 1,989 123,487 SH   SOLE   123,487 0 0
Hanmi Financial Corporation COM 410495204 1,659 78,700 SH   SOLE   78,700 0 0
Hamilton Bancorp Inc. COM 407015106 4,274 330,000 SH   SOLE   330,000 0 0
Hudson City Bancorp, Inc. COM 443683107 8,962 911,656 SH   SOLE   911,656 0 0
Heritage Oaks Bancorp COM 42724R107 3,545 464,600 SH   SOLE   464,600 0 0
HopFed Bancorp, Inc. COM 439734104 7,896 679,503 SH   SOLE   679,503 0 0
Home Federal Bancorp, Inc. of Louisiana COM 43708L108 1,900 100,000 SH   SOLE   100,000 0 0
HF Financial Corp. COM 404172108 9,110 655,900 SH   SOLE   655,900 0 0
Hingham Institution for Savings COM 433323102 2,954 37,200 SH   SOLE   37,200 0 0
HMN Financial, Inc. COM 40424G108 347 31,500 SH   SOLE   31,500 0 0
HomeTrust Bancshares, Inc. COM 437872104 2,384 151,200 SH   SOLE   151,200 0 0
Heritage Commerce Corp COM 426927109 8,488 1,038,900 SH   SOLE   1,038,900 0 0
Hilltop Holdings Inc. COM 432748101 14,882 700,000 SH   SOLE   700,000 0 0
Heartland Financial USA, Inc. COM 42234Q102 1,793 72,500 SH   SOLE   72,500 0 0
Independent Bank Corporation COM 453838609 11,658 905,800 SH   SOLE   905,800 0 0
International Bancshares Corporation COM 459044103 675 25,000 SH   SOLE   25,000 0 0
IF Bancorp, Inc. COM 44951J105 6,359 385,600 SH   SOLE   385,600 0 0
Investors Bancorp, Inc. COM 46146L101 11,815 1,069,250 SH   SOLE   1,069,250 0 0
Invesco Ltd. SHS G491BT108 7,527 199,400 SH   SOLE   199,400 0 0
Jacksonville Bancorp, Inc. COM 469249205 3,283 312,707 SH   SOLE   312,707 0 0
JPMorgan Chase & Co. COM 46625H100 9,507 165,000 SH   SOLE   165,000 0 0
Call - JPM $42.42 Exp 10/28/2018 Warrant 46634E114 1,059 54,800 SH   SOLE   54,800 0 0
Jacksonville Bancorp, Inc. (IL) COM 46924R106 1,268 60,000 SH   SOLE   60,000 0 0
KeyCorp COM 493267108 3,941 275,000 SH   SOLE   275,000 0 0
Louisiana Bancorp, Inc. COM 54619P104 2,883 145,300 SH   SOLE   145,300 0 0
Lazard Ltd SHS A G54050102 4,898 95,000 SH   SOLE   95,000 0 0
Lakeland Financial Corporation COM 511656100 4,346 113,900 SH   SOLE   113,900 0 0
Laporte Bancorp Inc. COM 516651106 4,577 416,100 SH   SOLE   416,100 0 0
MB Financial, Inc. COM 55264U108 2,332 86,200 SH   SOLE   86,200 0 0
Mercantile Bank Corporation COM 587376104 2,631 115,000 SH   SOLE   115,000 0 0
Meetinghouse Bancorp, Inc. COM 58514H109 697 58,100 SH   SOLE   58,100 0 0
Moelis & Company CL A 60786M105 1,008 30,000 SH   SOLE   30,000 0 0
Metro Bancorp Inc. COM 59161R101 1,251 54,100 SH   SOLE   54,100 0 0
Malvern Bancorp, Inc. COM 561409103 6,746 640,675 SH   SOLE   640,675 0 0
MidWestOne Financial Group, Inc. COM 598511103 3,958 165,000 SH   SOLE   165,000 0 0
Morgan Stanley COM 617446448 14,325 443,100 SH   SOLE   443,100 0 0
MainSource Financial Group, Inc. COM 56062Y102 4,977 288,500 SH   SOLE   288,500 0 0
Call - MTB $73.86 Exp 12/23/2018 Warrant 55261F112 7,989 159,200 SH   SOLE   159,200 0 0
First NBC Bank Holding Company COM 32115D106 16,497 492,300 SH   SOLE   492,300 0 0
National Bank Holdings Corporation CL A 633707104 7,019 352,000 SH   SOLE   352,000 0 0
NBT Bancorp Inc. COM 628778102 4,331 180,300 SH   SOLE   180,300 0 0
NMI Holdings CL A 629209305 5,114 487,000 SH   SOLE   487,000 0 0
North Valley Bancorp COM 66304M204 1,318 60,500 SH   SOLE   60,500 0 0
National Penn Bancshares, Inc. COM 637138108 1,955 184,800 SH   SOLE   184,800 0 0
Northrim BanCorp, Inc. COM 666762109 4,603 180,000 SH   SOLE   180,000 0 0
OFG Bancorp COM 67103X102 5,063 275,000 SH   SOLE   275,000 0 0
Southwest Bancorp, Inc. COM 844767103 13,315 780,500 SH   SOLE   780,500 0 0
Old Line Bancshares, Inc. COM 67984M100 2,049 130,000 SH   SOLE   130,000 0 0
Opus Bank COM 684000102 1,026 35,307 SH   SOLE   35,307 0 0
Old Second Bancorp, Inc. COM 680277100 5,591 1,125,000 SH   SOLE   1,125,000 0 0
Oak Valley Bancorp. COM 671807105 645 65,000 SH   SOLE   65,000 0 0
Polonia Bancorp, Inc. COM 73158Q109 3,478 337,000 SH   SOLE   337,000 0 0
Pathfinder Bancorp, Inc. COM 70320A103 506 34,900 SH   SOLE   34,900 0 0
Prudential Bancorp, Inc. COM 74431A101 5,557 482,800 SH   SOLE   482,800 0 0
Poage Bankshares, Inc. COM 730206109 3,245 220,000 SH   SOLE   220,000 0 0
Peoples Bancorp of North Carolina COM 710577107 990 61,900 SH   SOLE   61,900 0 0
Peoples Federal Bancshares, Inc. COM 711037101 4,165 225,600 SH   SOLE   225,600 0 0
Preferred Bank COM 740367404 3,782 160,000 SH   SOLE   160,000 0 0
Premier Financial Bancorp, Inc. COM 74050M105 1,454 90,400 SH   SOLE   90,400 0 0
Provident Financial Services, Inc. COM 74386T105 1,212 70,000 SH   SOLE   70,000 0 0
Palmetto Bancshares, Inc. COM 697062206 10,535 732,095 SH   SOLE   732,095 0 0
Provident Financial Holdings, Inc. COM 743868101 324 22,300 SH   SOLE   22,300 0 0
Regions Financial Corporation COM 7591EP100 3,717 350,000 SH   SOLE   350,000 0 0
Riverview Bancorp, Inc. COM 769397100 3,395 875,000 SH   SOLE   875,000 0 0
Silvercrest Asset Management Group Inc. CL A 828359109 4,475 260,000 SH   SOLE   260,000 0 0
Sandy Spring Bancorp, Inc. COM 800363103 1,644 66,000 SH   SOLE   66,000 0 0
Seacoast Banking Corporation of Florida COM 811707801 5,857 538,800 SH   SOLE   538,800 0 0
Simmons First National Corporation CL A 828730200 3,781 96,000 SH   SOLE   96,000 0 0
Stonegate Bank COM 861811107 2,167 86,000 SH   SOLE   86,000 0 0
Stonegate Mortgage Corp COM 86181Q300 4,408 316,010 SH   SOLE   316,010 0 0
Shore Bancshares, Inc. COM 825107105 4,442 493,000 SH   SOLE   493,000 0 0
State Investors Bancorp, Inc. COM 857030100 3,174 198,400 SH   SOLE   198,400 0 0
SI Financial Group, Inc. COM 78425V104 5,857 508,898 SH   SOLE   508,898 0 0
Solar Capital Ltd. COM 83413U100 213 10,000 SH   SOLE   10,000 0 0
Southern Missouri Bancorp, Inc. COM 843380106 7,859 220,205 SH   SOLE   220,205 0 0
Standard Financial Corp. COM 853393106 3,830 196,500 SH   SOLE   196,500 0 0
Sugar Creek Financial Corporation COM 86481Y102 300 32,600 SH   SOLE   32,600 0 0
Sun Bancorp, Inc. COM 86663B102 4,417 1,101,416 SH   SOLE   1,101,416 0 0
Sunnyside Bancorp, Inc. COM 867475105 329 35,000 SH   SOLE   35,000 0 0
Sunshine Financial Inc. COM 86782T109 1,210 65,400 SH   SOLE   65,400 0 0
Synovus Financial Corp. COM 87161C105 573 23,500 SH   SOLE   23,500 0 0
Southcoast Financial Corporation COM 84129R100 411 56,600 SH   SOLE   56,600 0 0
State Bank Financial Corporation COM 856190103 35,765 2,115,000 SH   SOLE   2,115,000 0 0
Call - STI $33.70 Exp 12/31/2018 Warrant 867914129 1,380 130,960 SH   SOLE   130,960 0 0
Sterling Bancorp COM 85917A100 2,700 225,000 SH   SOLE   225,000 0 0
State Street Corporation COM 857477103 7,399 110,000 SH   SOLE   110,000 0 0
Suffolk Bancorp COM 864739107 1,504 67,400 SH   SOLE   67,400 0 0
Susquehanna Bancshares, Inc. COM 869099101 2,516 238,300 SH   SOLE   238,300 0 0
Territorial Bancorp Inc. COM 88145X108 11,380 545,000 SH   SOLE   545,000 0 0
Triangle Capital Corporation COM 895848109 284 10,000 SH   SOLE   10,000 0 0
United Security Bancshares COM 911460103 371 66,652 SH   SOLE   66,652 0 0
United Community Bancorp COM 90984R101 3,870 329,100 SH   SOLE   329,100 0 0
United Community Banks, Inc. COM 90984P303 4,114 251,300 SH   SOLE   251,300 0 0
United Community Financial Corp. COM 909839102 18,027 4,365,000 SH   SOLE   4,365,000 0 0
U.S. Bancorp COM 902973304 3,466 80,000 SH   SOLE   80,000 0 0
Washington Federal, Inc. COM 938824109 2,804 125,000 SH   SOLE   125,000 0 0
West End Indiana Bancshares, Inc. COM 952678100 2,506 130,500 SH   SOLE   130,500 0 0
Wolverine Bancorp, Inc. COM 977880103 3,637 160,200 SH   SOLE   160,200 0 0
Walker & Dunlop, Inc. COM 93148P102 3,175 225,000 SH   SOLE   225,000 0 0
Wilshire Bancorp, Inc. COM 97186T108 3,492 340,000 SH   SOLE   340,000 0 0
Willis Lease Finance Corporation COM 970646105 2,207 90,000 SH   SOLE   90,000 0 0
Waterstone Financial Inc. COM 94188P101 7,417 650,000 SH   SOLE   650,000 0 0
WSFS Financial Corporation COM 929328102 6,667 90,500 SH   SOLE   90,500 0 0
West Bancorporation, Inc. CAP STK 95123P106 2,056 135,000 SH   SOLE   135,000 0 0
Wintrust Financial Corporation COM 97650W108 4,140 90,000 SH   SOLE   90,000 0 0
Xenith Bankshares, Inc. COM 98410X105 4,751 750,600 SH   SOLE   750,600 0 0
Zions Bancorporation COM 989701107 2,063 70,000 SH   SOLE   70,000 0 0
Call - ZION $36.27 Exp 11/14/2018 Warrant 989701131 5,658 1,768,160 SH   SOLE   1,768,160 0 0