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 CENTURY BANCSHARES INC. COM 31943X102 660 58,849 SH   SOLE   58,849 0 0
AERCAP HLDGS NV SHS N00985106 15,418 459,015 SH   SOLE   459,015 0 0
AIR LEASE CORP CL A 00912X302 12,282 458,642 SH   SOLE   458,642 0 0
AMERIPRISE FINL COM 03076C106 2,601 28,947 SH   SOLE   28,947 0 0
ANIXTER INTL INC COM 035290105 15,262 286,456 SH   SOLE   286,456 0 0
ASTORIA FINL CORP COM 046265104 26,221 1,710,458 SH   SOLE   1,710,458 0 0
BANCORP NEW JERSEY INC NEW COM 059915108 196 16,786 SH   SOLE   16,786 0 0
BANK OF AMERICA CORP COM 060505104 15,500 1,168,038 SH   SOLE   1,168,038 0 0
BANK OF MARIN BANCORP COM 063425102 16,566 342,477 SH   SOLE   342,477 0 0
BANK NEW YORK MELLON CORP COM 064058100 7,682 197,734 SH   SOLE   197,734 0 0
BANK OF THE ST JAMES FINL GP COM 470299108 2,587 211,163 SH   SOLE   211,163 0 0
BANKFINL CORP COM 06643P104 1,666 138,923 SH   SOLE   138,923 0 0
BANNER CORP COM 06652V208 23,886 561,501 SH   SOLE   561,501 0 0
BEACON ROOFING SUPPLY INC COM 073685109 16,097 354,004 SH   SOLE   354,004 0 0
BELDEN INC COM 077454106 40,152 665,096 SH   SOLE   665,096 0 0
BLACKROCK INC COM 09247X101 3,230 9,429 SH   SOLE   9,429 0 0
BOFI HOLDING INC COM 05566U108 22,892 1,292,631 SH   SOLE   1,292,631 0 0
BRIDGE BANCORP INC COM 108035106 46,331 1,631,374 SH   SOLE   1,631,374 0 0
BRYN MAWR BANK CORP COM 117665109 23,664 810,409 SH   SOLE   810,409 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 3,299 293,220 SH   SOLE   293,220 0 0
CALATLANTIC GROUP INC COM 128195104 2,937 80,005 SH   SOLE   80,005 0 0
CAMDEN NATIONAL CORP COM 133034108 9,107 216,840 SH   SOLE   216,840 0 0
CAPITAL ONE FINL CORP COM 14040H105 18,083 284,719 SH   SOLE   284,719 0 0
CARLISLE COS INC COM 142339100 35,706 337,866 SH   SOLE   337,866 0 0
CAROLINA BK HLDGS INC GREEN COM 143785103 2,575 147,291 SH   SOLE   147,291 0 0
CASCADE BANCORP COM 147154207 20,641 3,725,805 SH   SOLE   3,725,805 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 10,178 726,971 SH   SOLE   726,971 0 0
CENTURY CMNTYS INC COM 156504300 6,125 353,250 SH   SOLE   353,250 0 0
CITIGROUP INC COM NEW 172967424 8,184 193,061 SH   SOLE   193,061 0 0
CITIZENS FINL GROUP INC COM 174610105 54,997 2,752,615 SH   SOLE   2,752,615 0 0
COMERICA INC COM 200340107 20,601 500,868 SH   SOLE   500,868 0 0
COUSINS PPTYS INC COM 222795106 152 14,659 SH   SOLE   14,659 0 0
COVENANT TRANSN GROUP INC CL A 22284P105 4,022 222,602 SH   SOLE   222,602 0 0
CSX CORP COM 126408103 3,859 147,964 SH   SOLE   147,964 0 0
CU BANCORP CALIF COM 126534106 20,780 914,218 SH   SOLE   914,218 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 205 8,417 SH   SOLE   8,417 0 0
EAGLE BANCORP INC MD COM 268948106 2,214 46,014 SH   SOLE   46,014 0 0
EAST WEST BANCORP INC COM 27579R104 4,157 121,617 SH   SOLE   121,617 0 0
EMCOR GROUP INC COM 29084Q100 8,571 173,990 SH   SOLE   173,990 0 0
ENSCO PLC SH CL A G3157S106 78 7,986 SH   SOLE   7,986 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 5,737 259,106 SH   SOLE   259,106 0 0
ESSENT GROUP LTD COM G3198U102 3,375 154,733 SH   SOLE   154,733 0 0
FARMERS CAP BK CORP COM 309562106 19,136 699,659 SH   SOLE   699,659 0 0
FCB FINL HLDGS INC CL A 30255G103 1,829 53,788 SH   SOLE   53,788 0 0
FELCOR LODGING TRUST INC COM 31430F101 430 69,095 SH   SOLE   69,095 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 12,532 334,183 SH   SOLE   334,183 0 0
FIDELITY NATIONAL INFORMATION SVCS COM 31620M106 10,822 146,883 SH   SOLE   146,883 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 3,009 192,010 SH   SOLE   192,010 0 0
FIFTH THIRD BANCORP COM 316773100 29,522 1,678,327 SH   SOLE   1,678,327 0 0
FIRST AMERICAN FINL CORP COM 31847R102 25,133 624,890 SH   SOLE   624,890 0 0
FIRST BANCORP NC COM 318910106 1,385 78,755 SH   SOLE   78,755 0 0
FIRST BUSEY CORP COM NEW 319383204 2,507 117,193 SH   SOLE   117,193 0 0
FIRST CITIZENS BANCSHARES INC CL A 31946M103 3,891 15,028 SH   SOLE   15,028 0 0
FIRST FOUNDATION INC COM 32026V104 11,750 546,510 SH   SOLE   546,510 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 584 21,003 SH   SOLE   21,003 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 4 387 SH   SOLE   387 0 0
FIRST SOUTH BANCORP INC COM 33646W100 3,535 378,484 SH   SOLE   378,484 0 0
FNB CORP PA COM 302520101 3,753 299,316 SH   SOLE   299,316 0 0
FIDELITY NATIONAL FINL FNFV GROUP COM 31620R402 1,278 111,383 SH   SOLE   111,383 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 23,065 1,381,110 SH   SOLE   1,381,110 0 0
HALLIBURTON CO COM 406216101 5,083 112,234 SH   SOLE   112,234 0 0
HARLEY DAVIDSON INC COM 412822108 20,576 454,214 SH   SOLE   454,214 0 0
HERITAGE FINL CORP WASH COM 42722X106 804 45,717 SH   SOLE   45,717 0 0
HERITAGE OAKS BANCORP COM 42724R107 16,448 2,071,562 SH   SOLE   2,071,562 0 0
HONEYWELL INTL INC COM 438516106 18,978 163,150 SH   SOLE   163,150 0 0
HORIZON BANCORP IND COM 440407104 3,600 143,215 SH   SOLE   143,215 0 0
HOULIHAN LOKEY INC CL A 441593100 3,031 135,508 SH   SOLE   135,508 0 0
HUNTINGTON BANCSHARES COM 446150104 22,860 2,557,055 SH   SOLE   2,557,055 0 0
INDEPENDENT BANK CORP COM 453838609 14,834 1,022,340 SH   SOLE   1,022,340 0 0
INSTALLED BUILDING PRODS INC COM 45780R101 5,954 164,076 SH   SOLE   164,076 0 0
J ALEXANDERS HLDGS INC COM 46609J106 191 19,238 SH   SOLE   19,238 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 686 13,780 SH   SOLE   13,780 0 0
JPMORGAN CHASE & CO COM 46625H100 45,549 733,012 SH   SOLE   733,012 0 0
KEYCORP COM 493267108 26,746 2,420,441 SH   SOLE   2,420,441 0 0
KINDER MORGAN INC COM 49456B101 2,362 126,163 SH   SOLE   126,163 0 0
KORNFERRY INTL COM NEW 500643200 651 31,468 SH   SOLE   31,468 0 0
LAKELAND BANCORP INC COM 511637100 4,524 397,571 SH   SOLE   397,571 0 0
LEAR CORP COM 521865204 8,179 80,377 SH   SOLE   80,377 0 0
MASCO CORP COM 574599106 5,401 174,565 SH   SOLE   174,565 0 0
MB FINL INC NEW COM 55264U108 5,515 152,017 SH   SOLE   152,017 0 0
MBT FINL CORP COM 578877102 7,074 884,262 SH   SOLE   884,262 0 0
METLIFE INC COM 59156R108 3,196 80,239 SH   SOLE   80,239 0 0
NEW YORK COMNTY BANCORP INC COM 649445103 1,098 73,265 SH   SOLE   73,265 0 0
NORWEGIAN CRUISE LINE HLDGS LTD SHS G66721104 6,840 171,696 SH   SOLE   171,696 0 0
OCEANFIRST FINL CORP COM 675234108 2,756 151,661 SH   SOLE   151,661 0 0
OLD LINE BANCSHARES INC COM 67984M100 5,692 316,241 SH   SOLE   316,241 0 0
OLD NATIONAL BANCORP COM 680033107 8,493 677,806 SH   SOLE   677,806 0 0
OLD SECOND BANCORP INC ILL COM 680277100 9,657 1,413,919 SH   SOLE   1,413,919 0 0
ONEMAIN HLDGS INC COM 68268W103 16,378 717,701 SH   SOLE   717,701 0 0
OPUS BANK IRVINE CALF COM 684000102 27,018 799,340 SH   SOLE   799,340 0 0
ORRSTOWN FINL SVCS INC COM 687380105 9,036 500,629 SH   SOLE   500,629 0 0
OWENS CORNING INC COM 690742101 19,426 377,054 SH   SOLE   377,054 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 16,796 1,069,104 SH   SOLE   1,069,104 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 6,025 251,040 SH   SOLE   251,040 0 0
PACWEST BANCORP DEL COM 695263103 18,874 474,459 SH   SOLE   474,459 0 0
PEAPACK GLADSTONE FINL CORP COM 704699107 18,572 1,003,348 SH   SOLE   1,003,348 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 3,229 258,499 SH   SOLE   258,499 0 0
PEOPLE'S UTAH BANCORP COM 712706209 2,344 141,200 SH   SOLE   141,200 0 0
PNC FINL SVCS GROUP INC COM 693475105 22,134 271,947 SH   SOLE   271,947 0 0
POPULAR INC COM 733174700 1,562 53,325 SH   SOLE   53,325 0 0
PREFERRED BANK/LOS ANGELES COM NEW 740367404 18,493 640,451 SH   SOLE   640,451 0 0
PREMIER FINL BANCORP INC COM 74050M105 2,797 165,984 SH   SOLE   165,984 0 0
PRIVATEBANCORP INC COM 742962103 4,818 109,421 SH   SOLE   109,421 0 0
PROVIDENT BANCORP INC COM 74383X109 2,706 175,513 SH   SOLE   175,513 0 0
PULTE GROUP INC COM 745867101 2,700 138,516 SH   SOLE   138,516 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 136 648 SH Put SOLE   648 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 48 230 SH Put SOLE   230 0 0
SELECT SECTOR SPDR TR SBI INTL-FINL 81369Y605 892 39,018 SH Put SOLE   39,018 0 0
SELECT SECTOR SPDR TR SBI INTL-FINL 81369Y605 3 128 SH Put SOLE   128 0 0
REGIONAL MGMT CORP COM 75902K106 14,842 1,012,448 SH   SOLE   1,012,448 0 0
REGIONS FINL CORP NEW COM 7591EP100 101,633 11,942,752 SH   SOLE   11,942,752 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 10,010 2,322,442 SH   SOLE   2,322,442 0 0
RIVERVIEW BANCORP INC COM 769397100 5,615 1,187,070 SH   SOLE   1,187,070 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 1,918 32,456 SH   SOLE   32,456 0 0
RYDER SYSTEM INC COM 783549108 6,132 100,291 SH   SOLE   100,291 0 0
SEACOAST BK CORP FLA COM NEW 811707801 38,748 2,385,972 SH   SOLE   2,385,972 0 0
SHORE BANCSHARES INC COM 825107105 6,625 563,800 SH   SOLE   563,800 0 0
SIERRA BANCORP COM 82620P102 243 14,530 SH   SOLE   14,530 0 0
SIGNATURE BK NEW YORK COM 82669G104 7,313 58,539 SH   SOLE   58,539 0 0
SVB FINL GROUP COM 78486Q101 42,126 442,682 SH   SOLE   442,682 0 0
SOUTH ST CORP COM 840441109 2,882 42,350 SH   SOLE   42,350 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101 1,989 82,514 SH   SOLE   82,514 0 0
SPX CORP COM 784635104 476 32,072 SH   SOLE   32,072 0 0
SPX FLOW INC COM 78469X107 836 32,072 SH   SOLE   32,072 0 0
STATE STREET CORP COM 857477103 3,741 69,388 SH   SOLE   69,388 0 0
STERLING BANCORP DEL COM 85917A100 15,506 987,653 SH   SOLE   987,653 0 0
STEWART INFORMATION SERVICES COM 860372101 36,307 876,765 SH   SOLE   876,765 0 0
SUFFOLK BANCORP COM 864739107 2,886 92,163 SH   SOLE   92,163 0 0
SUNSHINE BANCORP INC COM 86777J108 1,635 115,453 SH   SOLE   115,453 0 0
SUNTRUST BANKS COM 867914103 1,631 39,695 SH   SOLE   39,695 0 0
SUSSEX BANCORP COM 869245100 1,461 109,386 SH   SOLE   109,386 0 0
SWIFT TRANSN CO CL A 87074U101 4,600 298,501 SH   SOLE   298,501 0 0
SYNOVUS FINL CORP COM NEW 87161C501 8,450 291,486 SH   SOLE   291,486 0 0
TCF FINL CORP COM 872275102 1,291 102,042 SH   SOLE   102,042 0 0
TEREX CORP NEW COM 880779103 3,157 155,437 SH   SOLE   155,437 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 10,165 217,381 SH   SOLE   217,381 0 0
COMMUNITY FINL CORP MD COM 20368X101 10,133 457,658 SH   SOLE   457,658 0 0
FIRST LONG ISLAND CORP COM 320734106 27,611 963,072 SH   SOLE   963,072 0 0
TIMBERLAND BANCORP INC COM 887098101 3,841 256,045 SH   SOLE   256,045 0 0
TOLL BROTHERS INC COM 889478103 3,602 133,850 SH   SOLE   133,850 0 0
TOPBUILD CORP COM 89055F103 702 19,396 SH   SOLE   19,396 0 0
TRI POINTE GROUP INC COM 87265H109 2,482 209,952 SH   SOLE   209,952 0 0
TRICO BANCSHARES COM 896095106 3,808 137,982 SH   SOLE   137,982 0 0
TRIUMPH BANCORP INC COM 89679E300 13,296 830,997 SH   SOLE   830,997 0 0
UNITED BANKSHARES INC WEST V COM 909907107 6,758 180,165 SH   SOLE   180,165 0 0
US BANCORP DEL COM NEW 902973304 50,634 1,255,493 SH   SOLE   1,255,493 0 0
VALLEY NATIONAL BANCORP COM 919794107 2,976 326,307 SH   SOLE   326,307 0 0
VERITEX HLDGS INC COM 923451108 15,527 969,236 SH   SOLE   969,236 0 0
WASHINGTONFIRST BANKSHARES INC COM 940730104 9,964 461,087 SH   SOLE   461,087 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 3,181 188,234 SH   SOLE   188,234 0 0
WELLS FARGO & CO COM 949746101 65,968 1,393,786 SH   SOLE   1,393,786 0 0
WESCO INTL INC COM 95082P105 17,585 341,529 SH   SOLE   341,529 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,458 75,297 SH   SOLE   75,297 0 0
WILLIS TOWERS WATSON PLC PUB LTD SHS G96629103 725 5,832 SH   SOLE   5,832 0 0
WINTRUST FINL CORP COM 97650W108 4,147 81,319 SH   SOLE   81,319 0 0
YADKIN FINL CORP COM 984305102 3,854 153,614 SH   SOLE   153,614 0 0
ZIONS BANCORP COM 989701107 3,038 120,892 SH   SOLE   120,892 0 0