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
AERCAP HOLDINGS NV SHS N00985106 19,537 425,000 SH   DFND 1 425,000 0 0
AERCAP HOLDINGS NV SHS N00985106 7,139 155,300 SH   SOLE   155,300 0 0
AMERIS BANCORP COM 03076K108 11,912 258,405 SH   DFND 1 258,405 0 0
AMERIS BANCORP COM 03076K108 6,374 138,261 SH   SOLE   138,261 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 17,447 483,956 SH   DFND 1 483,956 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 10,268 284,840 SH   SOLE   284,840 0 0
CAROLINA FINL CORP NEW COM 143873107 4,650 155,000 SH   DFND 1 155,000 0 0
CENTRUE FINL CORP NEW COM NEW 15643B205 1,972 75,597 SH   DFND 1 75,597 0 0
CENTRUE FINL CORP NEW COM NEW 15643B205 3,888 149,094 SH   SOLE   149,094 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 8,820 145,000 SH   DFND 1 145,000 0 0
CHEMICAL FINL CORP COM 163731102 3,634 71,037 SH   DFND 1 71,037 0 0
CHEMICAL FINL CORP COM 163731102 436 8,516 SH   SOLE   8,516 0 0
CHERRY HILL MTG INVT CORP COM 164651101 9,425 551,464 SH   DFND 1 551,464 0 0
CHERRY HILL MTG INVT CORP COM 164651101 4,769 279,063 SH   SOLE   279,063 0 0
CIT GROUP INC COM NEW 125581801 17,172 400,000 SH   DFND 1 400,000 0 0
CIT GROUP INC COM NEW 125581801 7,706 179,500 SH   SOLE   179,500 0 0
CITIZENS FINL GROUP INC COM 174610105 12,093 350,000 SH   DFND 1 350,000 0 0
COMERICA INC COM 200340107 10,287 150,000 SH   DFND 1 150,000 0 0
ENOVA INTL INC COM 29357K103 2,465 165,974 SH   DFND 1 165,974 0 0
FB FINL CORP COM 30257X104 4,066 115,000 SH   DFND 1 115,000 0 0
FIRST BANCSHARES INC MS COM 318916103 6,423 225,352 SH   SOLE   225,352 0 0
FIRST MID ILL BANCSHARES INC COM 320866106 2,861 84,549 SH   SOLE   84,549 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 12,136 512,500 SH   DFND 1 512,500 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 5,922 210,074 SH   DFND 1 210,074 0 0
GREAT WESTN BANCORP INC COM 391416104 9,648 227,486 SH   DFND 1 227,486 0 0
GREAT WESTN BANCORP INC COM 391416104 6,615 155,982 SH   SOLE   155,982 0 0
HANCOCK HLDG CO COM 410120109 10,249 225,000 SH   DFND 1 225,000 0 0
HANCOCK HLDG CO COM 410120109 6,592 144,725 SH   SOLE   144,725 0 0
HERITAGE FINL CORP WASH COM 42722X106 6,583 265,968 SH   DFND 1 265,968 0 0
HOME BANCORP INC COM 43689E107 7,834 232,109 SH   DFND 1 232,109 0 0
HOME BANCORP INC COM 43689E107 1,145 33,930 SH   SOLE   33,930 0 0
HOMETOWN BANKSHARES CORP COM 43787N108 1,576 162,460 SH   SOLE   162,460 0 0
HORIZON BANCORP IND COM 440407104 3,780 144,154 SH   DFND 1 144,154 0 0
HORIZON BANCORP IND COM 440407104 3,363 128,263 SH   SOLE   128,263 0 0
IBERIABANK CORP COM 450828108 7,910 100,000 SH   DFND 1 100,000 0 0
INVITATION HOMES INC COM 46187W107 9,278 425,000 SH   DFND 1 425,000 0 0
ISHARES TR SHRT TRS BD ETF 464288679 20,064 181,837 SH   DFND 1 181,837 0 0
KEYCORP NEW COM 493267108 10,668 600,000 SH   DFND 1 600,000 0 0
LOEWS CORP COM 540424108 5,846 125,000 SH   DFND 1 125,000 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 9,873 299,828 SH   DFND 1 299,828 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 6,521 198,034 SH   SOLE   198,034 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 10,890 316,662 SH   DFND 1 316,662 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 2,178 63,338 SH   SOLE   63,338 0 0
MIDSOUTH BANCORP INC COM 598039105 6,329 413,656 SH   DFND 1 413,656 0 0
MIDSOUTH BANCORP INC COM 598039105 3,872 253,085 SH   SOLE   253,085 0 0
NEWSTAR FINANCIAL INC COM 65251F105 9,283 877,408 SH   DFND 1 877,408 0 0
NEWSTAR FINANCIAL INC COM 65251F105 3,611 341,263 SH   SOLE   341,263 0 0
OPUS BK IRVINE CALIF COM 684000102 9,068 450,000 SH   DFND 1 450,000 0 0
POPULAR INC COM NEW 733174700 14,549 357,200 SH   DFND 1 357,200 0 0
POPULAR INC COM NEW 733174700 931 22,848 SH   SOLE   22,848 0 0
QCR HOLDINGS INC COM 74727A104 9,477 223,773 SH   DFND 1 223,773 0 0
QCR HOLDINGS INC COM 74727A104 5,215 123,140 SH   SOLE   123,140 0 0
RIVERVIEW BANCORP INC COM 769397100 1,235 172,700 SH   SOLE   172,700 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 4,016 167,478 SH   DFND 1 167,478 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 7,596 208,794 SH   DFND 1 208,794 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 755 20,766 SH   SOLE   20,766 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 7,420 50,000 SH   DFND 1 50,000 0 0
SOUTHERN MO BANCORP INC COM 843380106 4,286 120,657 SH   DFND 1 120,657 0 0
SOUTHERN MO BANCORP INC COM 843380106 8,395 236,334 SH   SOLE   236,334 0 0
STONEGATE MTG CORP COM 86181Q300 1,735 218,003 SH   DFND 1 218,003 0 0
SYNOVUS FINL CORP COM NEW 87161C501 4,102 100,000 SH   DFND 1 100,000 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 11,092 132,919 SH   DFND 1 132,919 0 0
TRICO BANCSHARES COM 896095106 5,866 165,105 SH   DFND 1 165,105 0 0
TRICO BANCSHARES COM 896095106 216 6,080 SH   SOLE   6,080 0 0
VERITEX HLDGS INC COM 923451108 6,327 225,000 SH   DFND 1 225,000 0 0
WINTRUST FINL CORP COM 97650W108 11,232 162,500 SH   DFND 1 162,500 0 0