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 SOURCE CORP COM 336901103 266 11,190 SH   DFND 1 11,190 0 0
1ST SOURCE CORP COM 336901103 617 25,955 SH   SOLE 0 25,955 0 0
AMERICAN EXPRESS CO COM 025816109 2,365 31,630 SH   DFND 1 31,630 0 0
AMERICAN EXPRESS CO COM 025816109 5,485 73,370 SH   SOLE 0 73,370 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 2,573 57,562 SH   DFND 1 57,562 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 5,965 133,438 SH   SOLE 0 133,438 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 153 6,566 SH   DFND 1 6,566 0 0
AMERICAN NATL BANKSHARES INC COM 027745108 354 15,234 SH   SOLE 0 15,234 0 0
AMERICAN RIVER BANKSHARES COM 029326105 383 46,601 SH   DFND 1 46,601 0 0
AMERICAN RIVER BANKSHARES COM 029326105 1,009 122,801 SH   SOLE 0 122,801 0 0
AMERISERV FINL INC COM 03074A102 5,007 1,827,327 SH   DFND 1 1,827,327 0 0
BANKFINANCIAL CORP COM 06643P104 169 19,826 SH   DFND 1 19,826 0 0
BANKFINANCIAL CORP COM 06643P104 391 45,984 SH   SOLE 0 45,984 0 0
BANNER CORP COM NEW 06652V208 959 28,376 SH   DFND 1 28,376 0 0
BANNER CORP COM NEW 06652V208 2,224 65,816 SH   SOLE 0 65,816 0 0
BERKSHIRE BANCORP INC DEL COM 084597202 63 7,862 SH   DFND 1 7,862 0 0
BERKSHIRE BANCORP INC DEL COM NEW 084597202 145 18,232 SH   SOLE 0 18,232 0 0
BLACKHAWK NETWORK HLDGS INC CL A 09238E104 882 38,035 SH   DFND 1 38,035 0 0
BLACKHAWK NETWORK HLDGS INC CL A 09238E104 2,045 88,162 SH   SOLE 0 88,162 0 0
BSB BANCORP INC MD COM 05573H108 536 40,728 SH   DFND 1 40,728 0 0
BSB BANCORP INC MD COM 05573H108 1,242 94,473 SH   SOLE 0 94,473 0 0
CAPE BANCORP INC COM 139209100 885 93,109 SH   DFND 1 93,109 0 0
CAPE BANCORP INC COM 139209100 2,052 215,967 SH   SOLE 0 215,967 0 0
CAPITAL BK FINL CORP CL A COM 139794101 13,281 698,256 SH   DFND 1 698,256 0 0
CAPITAL ONE FINL CORP COM 14040H105 3,369 53,644 SH   DFND 1 53,644 0 0
CAPITAL ONE FINL CORP COM 14040H105 7,811 124,356 SH   SOLE 0 124,356 0 0
CIT GROUP INC COM NEW 125581801 5,641 120,967 SH   DFND 1 120,967 0 0
CIT GROUP INC COM NEW 125581801 13,084 280,587 SH   SOLE 0 280,587 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,056 568,000 SH   DFND 1 568,000 0 0
DISCOVER FINL SVCS COM 254709108 1,198 25,155 SH   DFND 1 25,155 0 0
DISCOVER FINL SVCS COM 254709108 2,780 58,345 SH   SOLE 0 58,345 0 0
DORAL FINL CORP COM NEW 25811P886 1,494 90,000 SH   DFND 1 90,000 0 0
ENCORE CAP GROUP INC COM 292554102 1,496 45,187 SH   DFND 1 45,187 0 0
ENCORE CAP GROUP INC COM 292554102 3,470 104,813 SH   SOLE 0 104,813 0 0
ESSA BANCORP INC COM 29667D104 153 14,005 SH   DFND 1 14,005 0 0
ESSA BANCORP INC COM 29667D104 354 32,333 SH   SOLE 0 32,333 0 0
FARMERS NATL BANC CORP COM 309627107 655 104,220 SH   DFND 1 104,220 0 0
FARMERS NATL BANC CORP COM 309627107 1,517 241,565 SH   SOLE 0 241,565 0 0
FINANACIAL INSTNS INC COM 317585404 376 20,415 SH   DFND 1 20,415 0 0
FINANACIAL INSTNS INC COM 317585404 872 47,355 SH   SOLE 0 47,355 0 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 207 25,858 SH   DFND 1 25,858 0 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 672 83,781 SH   SOLE 0 83,781 0 0
FORESTAR GROUP INC COM 346233109 1,813 90,376 SH   DFND 1 90,376 0 0
FORESTAR GROUP INC COM 346233109 4,205 209,624 SH   SOLE 0 209,624 0 0
GLADSTONE LD CORP COM 376549101 1,247 73,650 SH   DFND 1 73,650 0 0
GLADSTONE LD CORP COM 376549101 2,890 170,708 SH   SOLE 0 170,708 0 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 41 31,460 SH   DFND 1 31,460 0 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 94 72,975 SH   SOLE 0 72,975 0 0
HERITAGE COMMERCE CORP COM 426927109 467 66,779 SH   DFND 1 66,779 0 0
HERITAGE COMMERCE CORP COM 426927109 1,084 154,892 SH   SOLE 0 154,892 0 0
HOME FED BANCORP IN LA NEW COM 43708L108 183 10,541 SH   DFND 1 10,541 0 0
HOME FED BANCORP IN LA NEW COM 43708L108 551 31,797 SH   SOLE 0 31,797 0 0
HOMESTREET INC COM 43785V102 304 14,160 SH   DFND 1 14,160 0 0
HOMESTREET INC COM 43785V102 704 32,840 SH   SOLE 0 32,840 0 0
HOMETRUST BANCSHARES INC COM 437872104 495 29,163 SH   DFND 1 29,163 0 0
HOMETRUST BANCSHARES INC COM 437872104 1,147 67,642 SH   SOLE 0 67,642 0 0
HOWARD HUGHES CORP COM 44267D107 2,195 19,584 SH   DFND 1 19,584 0 0
HOWARD HUGHES CORP COM 44267D107 5,091 45,416 SH   SOLE 0 45,416 0 0
HUDSON VALLEY HOLDING CORP COM 444172100 521 30,692 SH   DFND 1 30,692 0 0
HUDSON VALLEY HOLDING CORP COM 444172100 1,209 71,190 SH   SOLE 0 71,190 0 0
JMP GROUP INC COM 46629U107 885 133,333 SH   DFND 1 133,333 0 0
JPMORGAN CHASE & CO COM 46625H100 2,068 39,182 SH   DFND 1 39,182 0 0
JPMORGAN CHASE & CO COM 46625H100 4,794 90,818 SH   SOLE 0 90,818 0 0
LAKELAND BANCORP INC COM 511637100 497 47,657 SH   DFND 1 47,657 0 0
LAKELAND BANCORP INC COM 511637100 1,153 110,543 SH   SOLE 0 110,543 0 0
MACKINAC FINL CORP COM 554571109 3,019 340,000 SH   DFND 1 340,000 0 0
MERCANTILE BANK CORP COM 587376104 547 30,465 SH   DFND 1 30,465 0 0
MERCANTILE BANK CORP COM 587376104 1,270 70,658 SH   SOLE 0 70,658 0 0
METLIFE INC COM 59156R108 2,620 57,253 SH   DFND 1 57,253 0 0
METLIFE INC COM 59156R108 6,075 132,747 SH   SOLE 0 132,747 0 0
METRO BANCORP INC PA COM 59161R101 2,095 104,577 SH   DFND 1 104,577 0 0
METRO BANCORP INC PA COM 59161R101 4,859 242,563 SH   SOLE 0 242,563 0 0
MIDDLEBURG FINANCIAL CORP COM 596094102 154 8,057 SH   DFND 1 8,057 0 0
MIDDLEBURG FINANCIAL CORP COM 596094102 353 18,489 SH   SOLE 0 18,489 0 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 140 12,884 SH   DFND 1 12,884 0 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 322 29,744 SH   SOLE 0 29,744 0 0
MORGAN STANLEY COM NEW 617446448 3,680 150,626 SH   DFND 1 150,626 0 0
MORGAN STANLEY COM NEW 617446448 8,535 349,374 SH   SOLE 0 349,374 0 0
NELNET INC CL A 64031N108 2,174 60,251 SH   DFND 1 60,251 0 0
NELNET INC CL A 64031N108 5,044 139,749 SH   SOLE 0 139,749 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 292 48,674 SH   DFND 1 48,674 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 676 112,900 SH   SOLE 0 112,900 0 0
NORTHERN TR CORP COM 665859104 1,526 26,359 SH   DFND 1 26,359 0 0
NORTHERN TR CORP COM 665859104 3,540 61,141 SH   SOLE 0 61,141 0 0
OCEAN SHORE HLDG CO NEW COM 67501R103 235 16,972 SH   DFND 1 16,972 0 0
OCEAN SHORE HLDG CO NEW COM 67501R103 544 39,364 SH   SOLE 0 39,364 0 0
OCEANFIRST FINL CORP COM 675234108 341 21,937 SH   DFND 1 21,937 0 0
OCEANFIRST FINL CORP COM 675234108 791 50,885 SH   SOLE 0 50,885 0 0
OFG BANCORP COM 67103X102 13,267 732,600 SH   DFND 1 732,600 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 198 34,513 SH   DFND 1 34,513 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 460 80,058 SH   SOLE 0 80,058 0 0
PEOPLES FED BANCSHARES INC COM 711037101 1,231 68,133 SH   DFND 1 68,133 0 0
PEOPLES FED BANCSHARES INC COM 711037101 2,856 158,032 SH   SOLE 0 158,032 0 0
PROVIDENT FINL HLDGS INC COM 743868101 609 38,348 SH   DFND 1 38,348 0 0
PROVIDENT FINL HLDGS INC COM 743868101 1,413 88,952 SH   SOLE 0 88,952 0 0
PROVIDENT FINL SCVS INC COM 74386T105 975 61,792 SH   DFND 1 61,792 0 0
PROVIDENT FINL SCVS INC COM 74386T105 2,262 143,326 SH   SOLE 0 143,326 0 0
PRUDENTIAL FINL INC COM 744320102 2,592 35,499 SH   DFND 1 35,499 0 0
PRUDENTIAL FINL INC COM 744320102 6,010 82,301 SH   SOLE 0 82,301 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 54 19,081 SH   DFND 1 19,081 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 124 43,638 SH   SOLE 0 43,638 0 0
RESOURCE CAP CORP COM 76120W302 561 91,287 SH   DFND 1 91,287 0 0
RESOURCE CAP CORP COM 76120W302 1,301 211,589 SH   SOLE 0 211,589 0 0
SIERRA BANCORP COM 82620P102 911 61,573 SH   DFND 1 61,573 0 0
SIERRA BANCORP COM 82620P102 2,114 142,819 SH   SOLE 0 142,819 0 0
SIMPLICITY BANCORP COM 828867101 290 20,018 SH   DFND 1 20,018 0 0
SIMPLICITY BANCORP COM 828867101 673 46,437 SH   SOLE 0 46,437 0 0
SOUTHERN NATL BANCORP OF VA COM 843395104 1,985 202,950 SH   DFND 1 202,950 0 0
STATE BK FINL CORP COM 856190103 696 46,340 SH   DFND 1 46,340 0 0
STATE BK FINL CORP COM 856190103 1,616 107,486 SH   SOLE 0 107,486 0 0
SYNOVUS FINL CORP COM 87161C105 2,770 948,616 SH   DFND 1 948,616 0 0
SYNOVUS FINL CORP COM 87161C105 6,425 2,200,299 SH   SOLE 0 2,200,299 0 0
UNITED CMNTY BANCORP IND COM 90984R101 352 34,435 SH   DFND 1 34,435 0 0
UNITED CMNTY BANCORP IND COM 90984R101 835 81,661 SH   SOLE 0 81,661 0 0
UNITED CMNTY BKS BLAIRSVILE G COM 90984P303 1,151 92,685 SH   DFND 1 92,685 0 0
UNITED CMNTY BKS BLAIRSVILE G COM 90984P303 2,670 214,990 SH   SOLE 0 214,990 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 1,552 333,710 SH   DFND 1 333,710 0 0
UNITED CMNTY FINL CORP OHIO COM 909839102 3,599 774,052 SH   SOLE 0 774,052 0 0
US BANCORP COM NEW 902973304 1,885 52,142 SH   DFND 1 52,142 0 0
US BANCORP COM NEW 902973304 4,369 120,858 SH   SOLE 0 120,858 0 0
VANTIV INC CL A 92210H105 1,680 60,858 SH   DFND 1 60,858 0 0
VANTIV INC CL A 92210H105 3,893 141,059 SH   SOLE 0 141,059 0 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 284 40,517 SH   DFND 1 40,517 0 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 658 93,983 SH   SOLE 0 93,983 0 0