13F-HR 1 d13fhr.txt FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2006 Check here if Amendment [ ]; Amendment Number: This amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Sandler O'Neill Asset Management, LLC Address: 780 3rd Ave, 5th Floor New York, NY 10017 13 File Number: 28-7148 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct, and complete, and and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form Person Signing this Report on Behalf of Reporting Manager: Name: TERRY MALTESE Title: President Phone: 212-486-7300 Signature, Place and Date of Signing: TERRY MALTESE May 11, 2006 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 135 Form 13F Information Table Value Total: $559,831,000
FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE -------------------------------- ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- -------- D ALLIANCE BANKSHARES COMMON STOCK 018535104 598 32000 SH SOLE 32000 0 0 D AMCORE FINL INC COM COMMON STOCK 023912108 1635 51700 SH SOLE 51700 0 0 D AMERICAN BANCORP NJ INC COM COMMON STOCK 02407E104 1638 150000 SH SOLE 150000 0 0 D AMERICAN RIVER BANKSHARES COMMON STOCK 029326105 3091 110600 SH SOLE 110600 0 0 D AMERICREDIT CORP COM COMMON STOCK 03060R101 1229 40000 SH SOLE 40000 0 0 D ANNALY MORTGAGE MANAGEMENT COM COMMON STOCK 035710409 1360 112000 SH SOLE 112000 0 0 D ASTORIA FINL CORP COM COMMON STOCK 046265104 2659 85900 SH SOLE 85900 0 0 D ASTORIA FINL CORP COM OPTIONS - CALLS 0462651DF 619 20000 SH CALL SOLE 20000 0 0 D BANC CORPORATION COM COMMON STOCK 05944B103 2708 228500 SH SOLE 228500 0 0 D BANCFIRST CORP COM COMMON STOCK 05945F103 7155 164100 SH SOLE 164100 0 0 D BANK NEW YORK INC COM COMMON STOCK 064057102 8246 228800 SH SOLE 228800 0 0 D BANK OF AMERICA CORP COM STK COMMON STOCK 060505104 4308 94600 SH SOLE 94600 0 0 D BANK OF HAWAII CORP SHS COMMON STOCK 062540109 9164 171900 SH SOLE 171900 0 0 D BANKFINANCIALCORP COM COMMON STOCK 06643P104 4774 299900 SH SOLE 299900 0 0 D BANKUNITED FINL CORP CL A COMMON STOCK 06652B103 9734 360000 SH SOLE 360000 0 0 D BEACH FIRST NATIONAL BANCSHARE COMMON STOCK 073334104 3536 138400 SH SOLE 138400 0 0 D BEAR STEARNS COS INC USD1 COM COMMON STOCK 073902108 3648 26300 SH SOLE 26300 0 0 D BFC FINANCIAL CORP CLASS A COM COMMON STOCK 055384200 3612 551400 SH SOLE 551400 0 0 D BOK FINL CORP COM NEW COMMON STOCK 05561Q201 6952 146200 SH SOLE 146200 0 0 D CALIFORNIA FIRST NATIONAL BANC COMMON STOCK 130222102 800 55300 SH SOLE 55300 0 0 D CAMDEN NATL CORP COM COMMON STOCK 133034108 3210 83600 SH SOLE 83600 0 0 D CAPITAL CORP OF THE WEST COMMON STOCK 140065202 1836 50000 SH SOLE 50000 0 0 D CASCADE FINL CORP COM COMMON STOCK 147272108 2179 114700 SH SOLE 114700 0 0 D CENTENNIAL BK HLDGS INC DEL CO COMMON STOCK 151345303 682 58300 SH SOLE 58300 0 0 D CITIGROUP INC COM STK COMMON STOCK 172967101 10409 220400 SH SOLE 220400 0 0
D CITIZENS BKG CORP MICH COM COMMON STOCK 174420109 1343 50000 SH SOLE 50000 0 0 D CITY NATL CORP COM COMMON STOCK 178566105 17715 230700 SH SOLE 230700 0 0 D COASTAL FINL CORP DEL COMMON STOCK 19046E105 1514 110000 SH SOLE 110000 0 0 D COBIZ INC COMMON STOCK 190897108 3492 169500 SH SOLE 169500 0 0 D COLONIAL BANCGROUP INC COM COMMON STOCK 195493309 5208 208300 SH SOLE 208300 0 0 D COLUMBIA BANCORP/OR COM COMMON STOCK 197231103 1076 49000 SH SOLE 49000 0 0 D COMERICA INC COM COMMON STOCK 200340107 3867 66700 SH SOLE 66700 0 0 D COMMERCE BANCSHARES INC COM COMMON STOCK 200525103 2749 53200 SH SOLE 53200 0 0 D COMMUNITY BANCORP INC COMMON STOCK 20342P109 1991 53800 SH SOLE 53800 0 0 D COMMUNITY BANCORPORATION INC COMMON STOCK 204149108 2841 83800 SH SOLE 83800 0 0 D COMMUNITY BNCP COMMON STOCK 20343T100 2642 85300 SH SOLE 85300 0 0 D COMMUNITY CAPITAL CP COMMON STOCK 20363C102 794 33100 SH SOLE 33100 0 0 D COMPASS BANCSHARES INC COMMON STOCK 20449H109 14566 287800 SH SOLE 287800 0 0 D CONN BK TR CO COMMON STOCK 207546102 2750 275000 SH SOLE 275000 0 0 D COOPERATIVE BANKSHARES INC COMMON STOCK 216844100 484 20800 SH SOLE 20800 0 0 D COUNTRYWIDE FINANCIA L CORP COMMON STOCK 222372104 734 20000 SH SOLE 20000 0 0 D CULLEN FROST BANKER INC COMMON STOCK 229899109 11852 220500 SH SOLE 220500 0 0 D DESERT COMMUNITY BANK COMMON STOCK 25037Y109 2448 60900 SH SOLE 60900 0 0 D DIME BANCORP INC WTS EXP 1/01/ WARRANTS 25429Q110 34 200000 SH SOLE 200000 0 0 D EATON VANCE CORP COM NON VTG COMMON STOCK 278265103 1320 48200 SH SOLE 48200 0 0 D EXCH NATL BANCSH COM STK COMMON STOCK 301309100 2357 79400 SH SOLE 79400 0 0 D FIRST BANCORP PUERTO RICO COMMON STOCK 318672102 494 40000 SH SOLE 40000 0 0 D FIRST BUSEY CORP CL A COMMON STOCK 319383105 7326 347200 SH SOLE 347200 0 0 D FIRST CHARTER CORP COM COMMON STOCK 319439105 1494 60500 SH SOLE 60500 0 0 D FIRST COMMUNITY BANCORP /CA COMMON STOCK 31983B101 3610 62600 SH SOLE 62600 0 0 D FIRST M & F CORP COM STK COMMON STOCK 320744105 2091 60100 SH SOLE 60100 0 0 D FIRST MIDWEST BANCORP INC DEL COMMON STOCK 320867104 11918 325900 SH SOLE 325900 0 0 D FIRST MUTUAL BANCSHARES INC COMMON STOCK 32190E102 2917 113300 SH SOLE 113300 0 0 D FIRST NIAGARA FINANCIAL GROUP COMMON STOCK 33582V108 1613 110000 SH SOLE 110000 0 0 D FIRST PACTRUST COMMON STOCK 33589V101 2377 79100 SH SOLE 79100 0 0 D FIRST REGIONAL BANCORP COMMON STOCK 33615C101 2415 27100 SH SOLE 27100 0 0 D FIRST SECURITYGROUP INC COMMON STOCK 336312103 1216 110000 SH SOLE 110000 0 0
D FIRST SOUTH BANCORP COMM STOCK COMMON STOCK 33646W100 6423 169600 SH SOLE 169600 0 0 D FIRST ST BANCORPORATION COMMON STOCK 336453105 3567 134300 SH SOLE 134300 0 0 D FLAG FINANCIAL CORP COM COMMON STOCK 33832H107 19303 1087500 SH SOLE 1087500 0 0 D FLUSHING FINL CORP COM COMMON STOCK 343873105 3090 177000 SH SOLE 177000 0 0 D FRANKLIN RES INC COM COMMON STOCK 354613101 3958 42000 SH SOLE 42000 0 0 D GATEWAY FINANCIAL HOLDINGS COMMON STOCK 368140109 4730 278400 SH SOLE 278400 0 0 D GLACIER BANCORP INC COM STK COMMON STOCK 37637Q105 932 30000 SH SOLE 30000 0 0 D GREENVILLE FIRST COMMON STOCK 39607Y100 1933 79400 SH SOLE 79400 0 0 D HERITAGE FINCL COMMON STOCK 42725U109 1496 122900 SH SOLE 122900 0 0 D HERITAGE OAKS BANCORP COM COMMON STOCK 42724R107 4115 211000 SH SOLE 211000 0 0 D HINGHAM INSTN SVGS MASS COMMON STOCK 433323102 1778 45600 SH SOLE 45600 0 0 D HMN FINL INC COM COMMON STOCK 40424G108 3538 101700 SH SOLE 101700 0 0 D HOME FEDERAL BANCORP INDIANA COMMON STOCK 436926109 3397 125900 SH SOLE 125900 0 0 D HORIZON BANCORP IND COM COMMON STOCK 440407104 1851 61200 SH SOLE 61200 0 0 D HUDSON CITY BANCORP INC COMMON STOCK 443683107 5316 400000 SH SOLE 400000 0 0 D HUNTINGTON BANCSHARES INC COMMON STOCK 446150104 1689 70000 SH SOLE 70000 0 0 D INDEPENDENT BANK CORP MICH COMMON STOCK 453838104 2276 80000 SH SOLE 80000 0 0 D INDEPENDENT BANK CORP (MASS) C COMMON STOCK 453836108 8681 270000 SH SOLE 270000 0 0 D INDYMAC BANCORP INC COM STK COMMON STOCK 456607100 1228 30000 SH SOLE 30000 0 0 D INTERNATIONAL BANCSHARES CORP COMMON STOCK 459044103 5793 201630 SH SOLE 201630 0 0 D IRWIN FINL CORP COM COMMON STOCK 464119106 1353 70000 SH SOLE 70000 0 0 D K-FED BANCORP COMMON STOCK 48246S101 1092 87500 SH SOLE 87500 0 0 D LAKELAND FINL CORP COM COMMON STOCK 511656100 9640 206200 SH SOLE 206200 0 0 D LEGACY BANCORP COMMON STOCK 52463G105 4307 287100 SH SOLE 287100 0 0 D LEHMAN BROTHERS HLDGS INC COM COMMON STOCK 524908100 2818 19500 SH SOLE 19500 0 0 D MAINSOURCE FIN GRP I COMMON STOCK 56062Y102 6615 350000 SH SOLE 350000 0 0 D MARSHALL & ILSLEY CORP COM COMMON STOCK 571834100 872 20000 SH SOLE 20000 0 0 D MB FINANCIAL INC COMMON STOCK 55264U108 5310 150000 SH SOLE 150000 0 0 D MERCANTILE BANKSHRS CORP COM COMMON STOCK 587405101 4999 130000 SH SOLE 130000 0 0 D MERRILL LYNCH & CO INC USD1.33 COMMON STOCK 590188108 5513 70000 SH SOLE 70000 0 0 D MFA MORTGAGE INVESTM ENTS INC COMMON STOCK 55272X102 2223 350000 SH SOLE 350000 0 0
D MORGAN STANLEY & CO COM COMMON STOCK 617446448 7947 126500 SH SOLE 126500 0 0 D NEW YORK COMM BANCORP DUE 11/1 PRFD STK (CONVRT 64944P307 4860 99599 SH SOLE 99599 0 0 D NORTH BAY BANCORP COM COMMON STOCK 657477105 905 31175 SH SOLE 31175 0 0 D NORTH VALLEY BANCORP COM COMMON STOCK 66304M105 4555 253600 SH SOLE 253600 0 0 D NORTHEAST BANCORP COM COMMON STOCK 663904100 393 18500 SH SOLE 18500 0 0 D OLD SECOND BANCORP INC ILL COMMON STOCK 680277100 6894 210000 SH SOLE 210000 0 0 D PACIFIC CONTINENTAL CORP COMMON STOCK 69412V108 1035 62000 SH SOLE 62000 0 0 D PACIFIC STATE BANCOR P COMMON STOCK 694864109 256 14400 SH SOLE 14400 0 0 D PINNACLE BANCSHARES INC COMMON STOCK 722903101 725 50000 SH SOLE 50000 0 0 D PNC FINANCIAL SERVICES GRP COMMON STOCK 693475105 2019 30000 SH SOLE 30000 0 0 D POPULAR INC COM COMMON STOCK 733174106 1453 70000 SH SOLE 70000 0 0 D PREFERRED BANK COMMON STOCK 740367107 5988 118600 SH SOLE 118600 0 0 D PROVIDENT FINANCIAL HLDGS INC COMMON STOCK 743868101 6667 204500 SH SOLE 204500 0 0 D RAINIER PAC FIN COMMON STOCK 75087U101 1477 91300 SH SOLE 91300 0 0 D SANDY SPRING BANCORP INC COMMON STOCK 800363103 2785 73300 SH SOLE 73300 0 0 D SECURITY BANK CORP COM COMMON STOCK 814047106 392 15500 SH SOLE 15500 0 0 D SIERRA BANCORP COMMON STOCK 82620P102 1708 66300 SH SOLE 66300 0 0 D SKY FINL GROUP INC COM COMMON STOCK 83080P103 2117 79900 SH SOLE 79900 0 0 D SMITHTOWN BANCORP INC COMMON STOCK 832449102 3624 105800 SH SOLE 105800 0 0 D SOUTHWEST BANCORP INC OKLA COMMON STOCK 844767103 9563 430000 SH SOLE 430000 0 0 D SUMMIT BANCSHARES INC COM COMMON STOCK 866011109 4914 255000 SH SOLE 255000 0 0 D SUNTRUST BKS INC COM COMMON STOCK 867914103 13744 188900 SH SOLE 188900 0 0 D SUSSEX BANCORP COM COMMON STOCK 869245100 699 47700 SH SOLE 47700 0 0 D SVB FINL GROUP COM COMMON STOCK 78486Q101 3714 70000 SH SOLE 70000 0 0 D SYNOVUS FINL CORP COM COMMON STOCK 87161C105 2438 90000 SH SOLE 90000 0 0 D T-ROWE PRICE GROUP INC COMMON STOCK 74144T108 1564 20000 SH SOLE 20000 0 0 D TAYLOR CAPTL GP COMMON STOCK 876851106 5487 140000 SH SOLE 140000 0 0 D TCF FINANCIAL CORP USD.01 COM COMMON STOCK 872275102 10751 417500 SH SOLE 417500 0 0 D TEMECULA VALLEY BANCORP INC COMMON STOCK 87972L104 807 39100 SH SOLE 39100 0 0 D TEXAS REGL BANCSHARES INC COMMON STOCK 882673106 2713 92000 SH SOLE 92000 0 0 D UCBH HOLDINGS INC COM COMMON STOCK 90262T308 2270 120000 SH SOLE 120000 0 0
D UNIONBANCAL CORP COM STK COMMON STOCK 908906100 7851 111900 SH SOLE 111900 0 0 D US BANCORP COM COMMON STOCK 902973304 19044 624400 SH SOLE 624400 0 0 D UTD CMNTY BK GA COMMON STOCK 90984P105 12335 438200 SH SOLE 438200 0 0 D VIRGINIA COMMERCE BANCORP COMMON STOCK 92778Q109 2797 77800 SH SOLE 77800 0 0 D W. P. STEWART & CO. LTD COMMON STOCK G84922106 1054 50000 SH SOLE 50000 0 0 D WADDELL & REED FINANCIAL INC COMMON STOCK 930059100 3234 140000 SH SOLE 140000 0 0 D WAUWATOSA HLDGS COMMON STOCK 94348P108 952 70000 SH SOLE 70000 0 0 D WELLS FARGO COMPANY COMMON STOCK 949746101 20438 320000 SH SOLE 320000 0 0 D WEST COAST BANCORP ORE NEW COM COMMON STOCK 952145100 7547 270000 SH SOLE 270000 0 0 D WESTAMERICA BANCORPORATION COMMON STOCK 957090103 4154 80000 SH SOLE 80000 0 0 D WESTERN SIERRA BANCORP INC COMMON STOCK 959522103 5296 116800 SH SOLE 116800 0 0 D WESTFIELD FINANCIAL INC COMMON STOCK 96008D101 618 25000 SH SOLE 25000 0 0 D WHITNEY HLDG CORP COM COMMON STOCK 966612103 7135 201200 SH SOLE 201200 0 0 D WILLIS GROUP HDLS LTD SHARES COMMON STOCK G96655108 956 27900 SH SOLE 27900 0 0 D WILLIS LEASE FINANCE CORP COM COMMON STOCK 970646105 2755 246000 SH SOLE 246000 0 0 D WILMINGTON TR CORP COM COMMON STOCK 971807102 4335 100000 SH SOLE 100000 0 0