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 3,325 420,925 SH   SOLE 0 420,925 0 0
AMERIPRISE FINL COM 03076C106 3,071 28,138 SH   SOLE 0 28,138 0 0
AMERIS BANCORP COM 03076K108 144 5,000 SH   SOLE 0 5,000 0 0
ANCHOR BANCORP WIS INC DEL COM 03283P106 18,213 427,629 SH   SOLE 0 427,629 0 0
ANIXTER INTERNATIONAL INC COM 35290105 18,604 321,984 SH   SOLE 0 321,984 0 0
ASTORIA FINL CORP COM 46265104 150,573 9,352,357 SH   SOLE 0 9,352,357 0 0
BANK OF AMER CORP COM 60505104 33,412 2,144,517 SH   SOLE 0 2,144,517 0 0
BANK OF MARIN BANCORP COM 63425102 12,739 265,448 SH   SOLE 0 265,448 0 0
BANK OF NEW YORK MELLON CORP COM 64058100 6,261 159,912 SH   SOLE 0 159,912 0 0
BANKFINL CORP COM 06643P104 25,360 2,040,256 SH   SOLE 0 2,040,256 0 0
BEACON ROOFING SUPPLY INC COM 73685109 11,502 354,004 SH   SOLE 0 354,004 0 0
BELDEN INC COM 77454106 30,767 658,971 SH   SOLE 0 658,971 0 0
BLACKROCK INC COM 09247X101 3,920 13,179 SH   SOLE 0 13,179 0 0
BREITBURN ENERGY PARTNERS LP COM UT LTD PTN 106776107 122 59,865 SH   SOLE 0 59,865 0 0
BRIDGE BANCORP INC COM 108035106 47,351 1,772,772 SH   SOLE 0 1,772,772 0 0
BRYN MAWR BK CORP COM 117665109 11,415 367,411 SH   SOLE 0 367,411 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 3,718 293,220 SH   SOLE 0 293,220 0 0
CAPITAL CITY BANK GROUP INC COM 139674105 1,121 75,165 SH   SOLE 0 75,165 0 0
CARDINAL FINL CORP COM 14149F109 20,783 903,232 SH   SOLE 0 903,232 0 0
CARLISLE COS INC COM 142339100 29,523 337,866 SH   SOLE 0 337,866 0 0
CAROLINA BANK HOLDINGS INC COM 143785103 5,502 423,527 SH   SOLE 0 423,527 0 0
CASCADE BANCORP COM NEW 147154207 16,771 3,100,035 SH   SOLE 0 3,100,035 0 0
CENTERSTATE BANKS INC COM 15201P109 37,002 2,517,166 SH   SOLE 0 2,517,166 0 0
CENTRAL PACIFIC FINL CORP COM NEW 154760409 9,213 439,365 SH   SOLE 0 439,365 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 8,681 717,468 SH   SOLE 0 717,468 0 0
CENTURY CMNTYS INC COM 156504300 5,282 266,080 SH   SOLE 0 266,080 0 0
CIT GROUP HLDGS INC COM NEW 125581801 4,338 108,375 SH   SOLE 0 108,375 0 0
CITIGROUP INC COM 172967424 9,578 193,061 SH   SOLE 0 193,061 0 0
CITIZENS FINL GROUP INC COM 174610105 45,861 1,922,079 SH   SOLE 0 1,922,079 0 0
CITY NATIONAL CORP COM 178566105 8,487 96,372 SH   SOLE 0 96,372 0 0
CMNTY FINL CORP MD COM 20368X101 10,690 454,911 SH   SOLE 0 454,911 0 0
COMERICA INC COM 200340107 22,598 549,826 SH   SOLE 0 549,826 0 0
COMMERCE BANCSHARES INC COM 200525103 9,173 201,328 SH   SOLE 0 201,328 0 0
COUSINS PPTYS INC COM 222795106 135 14,659 SH   SOLE 0 14,659 0 0
COVENANT TRANS GROUP INC COM 22284P105 399 22,226 SH   SOLE 0 22,226 0 0
CU BANCORP CALIF COM 126534106 28,055 1,249,104 SH   SOLE 0 1,249,104 0 0
DANA HOLDING CORP COM 235825205 4,426 278,732 SH   SOLE 0 278,732 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 270 15,580 SH   SOLE 0 15,580 0 0
DUKE REALTY CORP COM NEW 264411505 611 32,095 SH   SOLE 0 32,095 0 0
EAGLE BANCORP INC COM 268948106 2,178 47,873 SH   SOLE 0 47,873 0 0
EASTERN VA BANKSHARES INC COM 277196101 3,382 501,023 SH   SOLE 0 501,023 0 0
EMCOR GROUP INC COM 29084Q100 7,894 178,385 SH   SOLE 0 178,385 0 0
ENERSYS COM 29275Y102 2,886 53,865 SH   SOLE 0 53,865 0 0
ENSCO PLC SH CL A G3157S106 112 7,986 SH   SOLE 0 7,986 0 0
ENTERPRISE FINL SVCS CORP COM 293712105 570 22,632 SH   SOLE 0 22,632 0 0
ESSENT GROUP LTD COM G3198U102 10,893 438,335 SH   SOLE 0 438,335 0 0
FARMERS CAP BK CORP COM 309562106 18,275 735,399 SH   SOLE 0 735,399 0 0
FCB FINL HLDGS INC CL A 30255G103 1,755 53,788 SH   SOLE 0 53,788 0 0
FELCOR LODGING TRUST INC COM 31430F101 489 69,095 SH   SOLE 0 69,095 0 0
FIDELITY NATIONAL FINANCIAL FNFV GROUP COM 31620R402 1,305 111,383 SH   SOLE 0 111,383 0 0
FIDELITY NATIONAL FINL INC FNF GROUP COM 31620R303 11,853 334,183 SH   SOLE 0 334,183 0 0
FIDELITY NATIONAL INFORMATION SVCS COM 31620M106 9,853 146,883 SH   SOLE 0 146,883 0 0
FIFTH THIRD BANCORP COM 316773100 14,293 755,821 SH   SOLE 0 755,821 0 0
FIRST AMERICAN FINL CORP COM 31847R102 15,282 391,140 SH   SOLE 0 391,140 0 0
FIRST BANCORP COM 318910106 17,507 1,029,837 SH   SOLE 0 1,029,837 0 0
FIRST BANCSHARES INC COM 318916103 6,315 361,460 SH   SOLE 0 361,460 0 0
FIRST CITIZENS BANCSHARES INC CL A 31946M103 3,396 15,028 SH   SOLE 0 15,028 0 0
FIRST CONN BANCORP INC MD COM 319850103 15,505 961,856 SH   SOLE 0 961,856 0 0
FIRST FNDTN INC COM 32026V104 7,371 323,717 SH   SOLE 0 323,717 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 440 21,003 SH   SOLE 0 21,003 0 0
FIRST LONG ISL CORP COM 320734106 25,098 928,524 SH   SOLE 0 928,524 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 4 387 SH   SOLE 0 387 0 0
FIRST SEC GROUP INC COM NEW 336312202 6,181 2,482,473 SH   SOLE 0 2,482,473 0 0
FIRST SOUTH BANCORP INC COM 33646W100 3,652 462,270 SH   SOLE 0 462,270 0 0
FULTON FINL CORP PA COM 360271100 3,481 287,668 SH   SOLE 0 287,668 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 350 29,435 SH   SOLE 0 29,435 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 22,467 1,364,099 SH   SOLE 0 1,364,099 0 0
HALLIBURTON CO COM 406216101 3,967 112,234 SH   SOLE 0 112,234 0 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 7,339 3,862,416 SH   SOLE 0 3,862,416 0 0
HANCOCK HOLDING CO COM 410120109 9,499 351,170 SH   SOLE 0 351,170 0 0
HARLEY DAVIDSON INC COM 412822108 24,936 454,214 SH   SOLE 0 454,214 0 0
HEIDRICK & STRUGGLES INT'L INC COM 422819102 2,583 132,820 SH   SOLE 0 132,820 0 0
HERITAGE OAKS BANCORP COM 42724R107 17,218 2,163,053 SH   SOLE 0 2,163,053 0 0
HONEYWELL INTL INC COM 438516106 15,449 163,150 SH   SOLE 0 163,150 0 0
HOULIHAN LOKEY INC CL A 441593100 12,299 564,185 SH   SOLE 0 564,185 0 0
HUNTINGTON BANCSHARES COM 446150104 7,765 732,592 SH   SOLE 0 732,592 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 16,443 1,114,031 SH   SOLE 0 1,114,031 0 0
INDEPENDENT BANK GROUP INC COM 45384B106 1,356 35,290 SH   SOLE 0 35,290 0 0
INSTALLED BLDG PRODS INC COM 45780R101 4,148 164,076 SH   SOLE 0 164,076 0 0
J ALEXANDER'S HLDGS INC COM 46609J106 192 19,238 SH   SOLE 0 19,238 0 0
JACOBS ENGR GROUP INC COM 469814107 516 13,780 SH   SOLE 0 13,780 0 0
JP MORGAN CHASE & CO COM 46625H100 44,692 733,012 SH   SOLE 0 733,012 0 0
KINDER MORGAN INC COM 49456B101 159 5,729 SH   SOLE 0 5,729 0 0
KORN/FERRY INTL COM NEW 500643200 2,619 79,201 SH   SOLE 0 79,201 0 0
LAKELAND BANCORP INC COM 511637100 2,063 185,729 SH   SOLE 0 185,729 0 0
LEAR CORP COM 521865204 8,743 80,377 SH   SOLE 0 80,377 0 0
LINN ENERGY LLC UNIT LTD LIAB 536020100 179 66,496 SH   SOLE 0 66,496 0 0
LINNCO LLC COM SHS LTD INT 535782106 150 55,291 SH   SOLE 0 55,291 0 0
MACATAWA BANK CORP COM 554225102 2,435 470,121 SH   SOLE 0 470,121 0 0
MASCO CORP COM 574599106 4,396 174,565 SH   SOLE 0 174,565 0 0
MB FINL INC NEW COM 55264U108 4,962 152,017 SH   SOLE 0 152,017 0 0
MBT FINL CORP COM 578877102 7,532 1,207,106 SH   SOLE 0 1,207,106 0 0
METLIFE INC COM 59156R108 17,109 362,854 SH   SOLE 0 362,854 0 0
METRO BANCORP INC PA COM 59161R101 3,707 126,134 SH   SOLE 0 126,134 0 0
NEW YORK CMNTYBANCORP INC COM 649445103 1,323 73,265 SH   SOLE 0 73,265 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 30,272 3,548,840 SH   SOLE 0 3,548,840 0 0
NORWEGIAN CRUISE LINE HLDGS LTD SHS G66721104 3,840 67,015 SH   SOLE 0 67,015 0 0
OCEANFIRST FINL CORP COM 675234108 8,166 474,215 SH   SOLE 0 474,215 0 0
OLD LINE BANCSHARES INC COM 67984M100 5,810 357,302 SH   SOLE 0 357,302 0 0
OLD NATIONAL BANCORP IND COM 680033107 4,289 307,896 SH   SOLE 0 307,896 0 0
OLD SECOND BANCORP INC ILL COM 680277100 8,981 1,441,521 SH   SOLE 0 1,441,521 0 0
OPUS BK IRVINE CALIF COM 684000102 28,103 734,924 SH   SOLE 0 734,924 0 0
ORRSTOWN FINL SVCS INC COM 687380105 8,938 530,146 SH   SOLE 0 530,146 0 0
OSHKOSH CORP COM 688239201 9,169 252,378 SH   SOLE 0 252,378 0 0
OWENS CORNING NEW COM 690742101 15,802 377,054 SH   SOLE 0 377,054 0 0
PACIFIC CONTINENTAL CORP COM 69412V108 20,742 1,558,352 SH   SOLE 0 1,558,352 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 23,267 1,145,040 SH   SOLE 0 1,145,040 0 0
PACWEST BANCORP COM 695263103 9,269 216,514 SH   SOLE 0 216,514 0 0
PEAPACK GLADSTONE FINL CORP COM 704699107 14,235 672,408 SH   SOLE 0 672,408 0 0
PENNYMAC FINL SERVICE COM NEW 70932B101 11,257 703,549 SH   SOLE 0 703,549 0 0
PEOPLE'S UTAH BANCORP COM 712706209 4,108 251,877 SH   SOLE 0 251,877 0 0
PNC FINL SVCS GROUP INC COM 693475105 14,393 161,358 SH   SOLE 0 161,358 0 0
POPULAR INC COM 733174700 1,612 53,325 SH   SOLE 0 53,325 0 0
PREFERRED BANK/LOS ANGELES COM NEW 740367404 24,231 766,788 SH   SOLE 0 766,788 0 0
PREMIER FINL BANCORP INC COM 74050M105 1,551 108,926 SH   SOLE 0 108,926 0 0
PRIVATEBANCORP INC COM 742962103 4,194 109,421 SH   SOLE 0 109,421 0 0
PROVIDENT BANCORP INC COM 74383X109 2,433 196,406 SH   SOLE 0 196,406 0 0
PULASKI FINL CORP COM 745548107 10,530 777,150 SH   SOLE 0 777,150 0 0
REGIONAL MGMT CORP COM 75902K106 16,836 1,086,206 SH   SOLE 0 1,086,206 0 0
REGIONS FINL CORP NEW COM 7591EP100 44,507 4,939,757 SH   SOLE 0 4,939,757 0 0
REMY INTL COM 75971M108 582 19,914 SH   SOLE 0 19,914 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 9,610 2,583,259 SH   SOLE 0 2,583,259 0 0
RIVERVIEW BANCORP INC COM 769397100 6,799 1,431,461 SH   SOLE 0 1,431,461 0 0
RYDER SYSTEM INC COM 783549108 5,483 74,051 SH   SOLE 0 74,051 0 0
SEACOAST BANKING CORP FLA COM NEW 811707801 26,057 1,774,973 SH   SOLE 0 1,774,973 0 0
SELECT SECTOR SPDR SBI INT-FINL 81369Y605 735 32,437 SH Put SOLE 0 32,437 0 0
SELECT SECTOR SPDR SBI INT-FINL 81369Y605 601 26,541 SH Put SOLE 0 26,541 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 2,802 67,460 SH   SOLE 0 67,460 0 0
SHORE BANCSHARES INC COM 825107105 2,470 254,124 SH   SOLE 0 254,124 0 0
SIERRA BANCORP COM 82620P102 15,251 955,575 SH   SOLE 0 955,575 0 0
SOUTH STATE CORP COM 840441109 3,255 42,350 SH   SOLE 0 42,350 0 0
SOUTHERN FIRST BANCSHARES INC COM 842873101 4,183 204,146 SH   SOLE 0 204,146 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 642 3,350 SH Put SOLE 0 3,350 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 59 307 SH Put SOLE 0 307 0 0
SPRINGLEAF HLDGS INC COM 85172J101 1,527 34,936 SH   SOLE 0 34,936 0 0
SPX CORP COM 784635104 382 32,072 SH   SOLE 0 32,072 0 0
SPX FLOW INC COM 78469X107 1,104 32,072 SH   SOLE 0 32,072 0 0
SQUARE 1 FINL INC CL A 85223W101 11,043 430,124 SH   SOLE 0 430,124 0 0
STATE STR CORP COM 857477103 4,664 69,388 SH   SOLE 0 69,388 0 0
STEINER LEISURE LTD COM P8744Y102 3,893 61,621 SH   SOLE 0 61,621 0 0
STERLING BANCORP COM 85917A100 50,792 3,415,754 SH   SOLE 0 3,415,754 0 0
STEWART INFORMATION SVCS COM 860372101 35,024 856,114 SH   SOLE 0 856,114 0 0
STOCK BLDG SUPPLY HLDGS INC COM 86101X104 1,728 98,111 SH   SOLE 0 98,111 0 0
STRATEGIC HOTELS & RESORTS COM 86272T106 1,027 74,501 SH   SOLE 0 74,501 0 0
SUFFOLK BANCORP COM 864739107 31,824 1,164,871 SH   SOLE 0 1,164,871 0 0
SUNTRUST BANKS COM 867914103 1,518 39,695 SH   SOLE 0 39,695 0 0
SUSSEX BANCORP COM 869245100 270 21,588 SH   SOLE 0 21,588 0 0
SVB FINL GROUP COM 78486Q101 9,770 84,563 SH   SOLE 0 84,563 0 0
SWIFT TRANS CO CL A 87074U101 3,188 212,224 SH   SOLE 0 212,224 0 0
SYNOVUS FINL CORP COM NEW 87161C501 65,380 2,208,783 SH   SOLE 0 2,208,783 0 0
TCF FINL CORP COM 872275102 19,590 1,292,188 SH   SOLE 0 1,292,188 0 0
TEREX CORP COM 880779103 2,789 155,437 SH   SOLE 0 155,437 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 39,452 752,611 SH   SOLE 0 752,611 0 0
TIMBERLAND BANCORP INC COM 887098101 3,318 304,729 SH   SOLE 0 304,729 0 0
TOPBUILD CORP COM 89055F103 601 19,396 SH   SOLE 0 19,396 0 0
TRANSOCEAN LTD REG SHS H8817H100 131 10,114 SH   SOLE 0 10,114 0 0
TRICO BANCSHARES COM 896095106 19,973 812,907 SH   SOLE 0 812,907 0 0
TRIUMPH BANCORP INC COM 89679E300 18,379 1,094,003 SH   SOLE 0 1,094,003 0 0
TUTOR PERINI CORP COM 901109108 2,900 176,160 SH   SOLE 0 176,160 0 0
UNITED BANKSHARES INC WEST V COM 909907107 6,844 180,165 SH   SOLE 0 180,165 0 0
UNITED RENTALS INC COM 911363109 3,252 54,157 SH   SOLE 0 54,157 0 0
UNITY BANCORP INC COM 913290102 267 27,370 SH   SOLE 0 27,370 0 0
US BANCORP COM 902973304 63,648 1,552,005 SH   SOLE 0 1,552,005 0 0
VALLEY NATIONAL BANCORP COM 919794107 3,211 326,307 SH   SOLE 0 326,307 0 0
VERITEX HLDGS INC COM 923451108 13,818 884,624 SH   SOLE 0 884,624 0 0
WASHINGTONFIRST BANKSHARES INC COM 940730104 9,109 494,521 SH   SOLE 0 494,521 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 3,496 154,506 SH   SOLE 0 154,506 0 0
WEINGARTEN REALTY INVESTORS SH BEN INT 948741103 723 21,830 SH   SOLE 0 21,830 0 0
WELLS FARGO & CO COM 949746101 62,439 1,215,959 SH   SOLE 0 1,215,959 0 0
WESCO INTL INC COM 95082P105 15,871 341,529 SH   SOLE 0 341,529 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,790 90,855 SH   SOLE 0 90,855 0 0
WILLIAM LYON HOMES CL A NEW 552074700 3,986 193,515 SH   SOLE 0 193,515 0 0
WILLIS GROUP HLDGS PUBLIC SHS G96666105 3,347 81,683 SH   SOLE 0 81,683 0 0
WINTRUST FINL CORP COM 97650W108 2,179 40,781 SH   SOLE 0 40,781 0 0
XENITH BANKSHARES INC COM 98410X105 2,350 367,697 SH   SOLE 0 367,697 0 0