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 21,517 421,000 SH   DFND 1 421,000 0 0
AERCAP HOLDINGS NV SHS N00985106 7,937 155,300 SH   SOLE   155,300 0 0
AMERIS BANCORP COM 03076K108 12,403 258,405 SH   DFND 1 258,405 0 0
AMERIS BANCORP COM 03076K108 5,977 124,511 SH   SOLE   124,511 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 5,173 285,000 SH   DFND 1 285,000 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 1,634 90,000 SH   SOLE   90,000 0 0
BANKUNITED INC COM 06652K103 4,446 125,000 SH   DFND 1 125,000 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 22,123 570,913 SH   DFND 1 570,913 0 0
BERKSHIRE HILLS BANCORP INC COM 084680107 10,273 265,121 SH   SOLE   265,121 0 0
CAROLINA FINL CORP NEW COM 143873107 6,402 178,428 SH   DFND 1 178,428 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 10,814 135,000 SH   DFND 1 135,000 0 0
CHARTER FINL CORP MD COM 16122W108 304 16,421 SH   DFND 1 16,421 0 0
CHEMICAL FINL CORP COM 163731102 3,712 71,037 SH   DFND 1 71,037 0 0
CHERRY HILL MTG INVT CORP COM 164651101 4,314 238,361 SH   DFND 1 238,361 0 0
CHERRY HILL MTG INVT CORP COM 164651101 2,143 118,394 SH   SOLE   118,394 0 0
CIT GROUP INC COM NEW 125581801 31,105 634,140 SH   DFND 1 634,140 0 0
CIT GROUP INC COM NEW 125581801 10,302 210,035 SH   SOLE   210,035 0 0
CITIZENS FINL GROUP INC COM 174610105 18,935 500,000 SH   DFND 1 500,000 0 0
COMERICA INC COM 200340107 11,439 150,000 SH   DFND 1 150,000 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 4,562 185,448 SH   DFND 1 185,448 0 0
FB FINL CORP COM 30257X104 11,254 298,346 SH   DFND 1 298,346 0 0
FIRST BANCORP P R COM NEW 318672706 5,139 1,003,703 SH   DFND 1 1,003,703 0 0
FIRST BANCSHARES INC MS COM 318916103 6,794 225,352 SH   SOLE   225,352 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 11,531 325,000 SH   DFND 1 325,000 0 0
GRANITE PT MTG TR INC COM 38741L107 1,670 89,187 SH   DFND 1 89,187 0 0
GREAT WESTN BANCORP INC COM 391416104 9,391 227,486 SH   DFND 1 227,486 0 0
GREAT WESTN BANCORP INC COM 391416104 6,439 155,982 SH   SOLE   155,982 0 0
HANCOCK HLDG CO COM 410120109 12,113 250,000 SH   DFND 1 250,000 0 0
HANCOCK HLDG CO COM 410120109 7,012 144,725 SH   SOLE   144,725 0 0
HERITAGE FINL CORP WASH COM 42722X106 6,490 220,000 SH   DFND 1 220,000 0 0
HOME BANCORP INC COM 43689E107 9,795 234,219 SH   DFND 1 234,219 0 0
HORIZON BANCORP IND COM 440407104 5,062 173,530 SH   DFND 1 173,530 0 0
HORIZON BANCORP IND COM 440407104 4,501 154,316 SH   SOLE   154,316 0 0
IBERIABANK CORP COM 450828108 13,144 160,000 SH   DFND 1 160,000 0 0
KEYCORP NEW COM 493267108 12,704 675,000 SH   DFND 1 675,000 0 0
LIVE OAK BANCSHARES INC COM 53803X105 3,588 153,000 SH   DFND 1 153,000 0 0
LOEWS CORP COM 540424108 4,786 100,000 SH   DFND 1 100,000 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 11,204 312,438 SH   DFND 1 312,438 0 0
MAINSOURCE FINANCIAL GP INC COM 56062Y102 4,994 139,250 SH   SOLE   139,250 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 11,503 363,115 SH   DFND 1 363,115 0 0
MIDLAND STS BANCORP INC ILL COM 597742105 4,163 131,397 SH   SOLE   131,397 0 0
MIDSOUTH BANCORP INC COM 598039105 7,336 608,787 SH   DFND 1 608,787 0 0
MIDSOUTH BANCORP INC COM 598039105 3,840 318,682 SH   SOLE   318,682 0 0
NEWSTAR FINANCIAL INC COM 65251F105 13,506 1,150,393 SH   DFND 1 1,150,393 0 0
NEWSTAR FINANCIAL INC COM 65251F105 5,016 427,218 SH   SOLE   427,218 0 0
OPUS BK IRVINE CALIF COM 684000102 7,681 320,042 SH   DFND 1 320,042 0 0
POPULAR INC COM NEW 733174700 18,989 528,360 SH   DFND 1 528,360 0 0
QCR HOLDINGS INC COM 74727A104 10,182 223,773 SH   DFND 1 223,773 0 0
QCR HOLDINGS INC COM 74727A104 5,603 123,140 SH   SOLE   123,140 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 5,771 375,490 SH   DFND 1 375,490 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 2,389 100,000 SH   DFND 1 100,000 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 8,927 229,794 SH   DFND 1 229,794 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 6,300 49,200 SH   DFND 1 49,200 0 0
SOUTHERN MO BANCORP INC COM 843380106 10,521 288,330 SH   DFND 1 288,330 0 0
SOUTHERN MO BANCORP INC COM 843380106 9,104 249,499 SH   SOLE   249,499 0 0
STEWARDSHIP FINL CORP COM 860326107 4,062 414,500 SH   SOLE   414,500 0 0
TCF FINL CORP COM 872275102 12,780 750,000 SH   DFND 1 750,000 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 7,937 92,500 SH   DFND 1 92,500 0 0
VERITEX HLDGS INC COM 923451108 13,754 510,166 SH   DFND 1 510,166 0 0
WINTRUST FINL CORP COM 97650W108 11,747 150,000 SH   DFND 1 150,000 0 0