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
AMERICAN CAP LTD COM 02503Y103 4,899 310,275 SH   SOLE 0 310,275 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 4,122 82,429 SH   SOLE 0 82,429 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 3,817 83,138 SH   SOLE 0 83,138 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 5,087 79,175 SH   SOLE 0 79,175 0 0
COLONY FINL INC COM 19624R106 3,938 179,425 SH   SOLE 0 179,425 0 0
COMERICA INC COM 200340107 4,830 93,250 SH   SOLE 0 93,250 0 0
DIME CMNTY BANCSHARES COM 253922108 3,382 199,200 SH   SOLE 0 199,200 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 2,806 166,480 SH   SOLE 0 166,480 0 0
HUNTINGTON BANCSHARES INC COM 446150104 4,870 488,545 SH   SOLE 0 488,545 0 0
JGWPT HLDGS INC CL A 46617M109 4,402 241,059 SH   SOLE 0 241,059 0 0
KEYCORP NEW COM 493267108 4,980 349,701 SH   SOLE 0 349,701 0 0
LINCOLN NATL CORP IND COM 534187109 5,745 113,384 SH   SOLE 0 113,384 0 0
M & T BK CORP COM 55261F104 5,058 41,695 SH   SOLE 0 41,695 0 0
METRO BANCORP INC PA COM 59161R101 4,714 222,979 SH   SOLE 0 222,979 0 0
NORTHSTAR RLTY FIN CORP COM 66704R100 8,063 499,578 SH   SOLE 0 499,578 0 0
ORITANI FINL CORP DEL COM 68633D103 2,776 175,594 SH   SOLE 0 175,594 0 0
PLATINUM UNDERWRITER HLDGS L COM G7127P100 4,225 70,292 SH   SOLE 0 70,292 0 0
PRICE T ROWE GROUP INC COM 74144T108 3,292 39,987 SH   SOLE 0 39,987 0 0
PRUDENTIAL FINL INC COM 744320102 5,847 69,079 SH   SOLE 0 69,079 0 0
RADIAN GROUP INC COM 750236101 678 45,084 SH   SOLE 0 45,084 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,329 479,690 SH   SOLE 0 479,690 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 2,018 83,800 SH   SOLE 0 83,800 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 10,947 490,000 SH Put SOLE 0 490,000 0 0
SPRINGLEAF HLDGS INC COM 85172J101 4,098 162,937 SH   SOLE 0 162,937 0 0
STATE BK FINL CORP COM 856190103 393 22,201 SH   SOLE 0 22,201 0 0
VISA INC COM CL A 92826C839 6,229 28,861 SH   SOLE 0 28,861 0 0
ZIONS BANCORPORATION COM 989701107 4,356 140,600 SH   SOLE 0 140,600 0 0