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
AMERIS BANCORP COM 03076K108 3,052 139,026 SH   DFND 1 139,026 0 0
AMERIS BANCORP COM 03076K108 5,399 245,974 SH   SOLE   245,974 0 0
BANK MUTUAL CORP NEW COM 063750103 392 61,171 SH   DFND 1 61,171 0 0
BANK MUTUAL CORP NEW COM 063750103 694 108,330 SH   SOLE   108,330 0 0
BANKWELL FINL GROUP INC COM 06654A103 782 41,216 SH   DFND 1 41,216 0 0
BANKWELL FINL GROUP INC COM 06654A103 1,378 72,641 SH   SOLE   72,641 0 0
BNC BANCORP COM 05566T101 1,584 101,181 SH   DFND 1 101,181 0 0
BNC BANCORP COM 05566T101 2,735 174,674 SH   SOLE   174,674 0 0
BRIDGE BANCORP INC COM 108035106 1,384 58,502 SH   DFND 1 58,502 0 0
BRIDGE BANCORP INC COM 108035106 2,448 103,498 SH   SOLE   103,498 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 1,054 30,440 SH   DFND 1 30,440 0 0
CENTURY BANCORP INC MASS CL A NON VTG 156432106 1,864 53,852 SH   SOLE   53,852 0 0
CHERRY HILL MTG INVT CORP COM 164651101 1,387 74,167 SH   DFND 1 74,167 0 0
CHERRY HILL MTG INVT CORP COM 164651101 2,454 131,210 SH   SOLE   131,210 0 0
COASTWAY BANCORP INC COM 190632109 1,207 112,500 SH   DFND 1 112,500 0 0
COASTWAY BANCORP INC COM 190632109 2,136 199,040 SH   SOLE   199,040 0 0
COMERICA INC *W EXP 11/14/201 200340115 1,270 61,394 SH   DFND 1 61,394 0 0
COMERICA INC *W EXP 11/14/201 200340115 2,246 108,606 SH   SOLE   108,606 0 0
COMMUNITYONE BANCORP COM 20416Q108 700 79,420 SH   DFND 1 79,420 0 0
COMMUNITYONE BANCORP COM 20416Q108 1,240 140,580 SH   SOLE   140,580 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,289 99,317 SH   DFND 1 99,317 0 0
EVANS BANCORP INC COM NEW 29911Q208 4,049 175,683 SH   SOLE   175,683 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 2,033 36,113 SH   DFND 1 36,113 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 3,597 63,887 SH   SOLE   63,887 0 0
FIFTH THIRD BANCORP COM 316773100 3,181 158,904 SH   DFND 1 158,904 0 0
FIFTH THIRD BANCORP COM 316773100 5,628 281,096 SH   SOLE   281,096 0 0
FIRST DEFIANCE FINL CORP COM 32006W106 1,515 56,087 SH   DFND 1 56,087 0 0
FIRST DEFIANCE FINL CORP COM 32006W106 2,680 99,225 SH   SOLE   99,225 0 0
FIRST MERCHANTS CORP COM 320817109 2,226 110,143 SH   DFND 1 110,143 0 0
FIRST MERCHANTS CORP COM 320817109 3,938 194,857 SH   SOLE   194,857 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 2,209 135,445 SH   DFND 1 135,445 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 3,907 239,555 SH   SOLE   239,555 0 0
GLEN BURNIE BANCORP COM 377407101 584 46,283 SH   DFND 1 46,283 0 0
GLEN BURNIE BANCORP COM 377407101 1,033 81,881 SH   SOLE   81,881 0 0
HERITAGE FINL CORP WASH COM 42722X106 2,164 136,596 SH   DFND 1 136,596 0 0
HERITAGE FINL CORP WASH COM 42722X106 3,828 241,652 SH   SOLE   241,652 0 0
HERITAGE FINL GROUP INC COM 42726X102 2,369 117,346 SH   DFND 1 117,346 0 0
HERITAGE FINL GROUP INC COM 42726X102 4,193 207,654 SH   SOLE   207,654 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 598 31,081 SH   DFND 1 31,081 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 1,058 54,987 SH   SOLE   54,987 0 0
INDEPENDENT BK GROUP INC COM 45384B106 2,639 55,613 SH   DFND 1 55,613 0 0
INDEPENDENT BK GROUP INC COM 45384B106 4,668 98,387 SH   SOLE   98,387 0 0
KEYCORP NEW COM 493267108 2,648 198,623 SH   DFND 1 198,623 0 0
KEYCORP NEW COM 493267108 4,684 351,377 SH   SOLE   351,377 0 0
LAPORTE BANCORP INC MD COM 516651106 1,620 144,483 SH   DFND 1 144,483 0 0
LAPORTE BANCORP INC MD COM 516651106 2,864 255,517 SH   SOLE   255,517 0 0
MERCANTILE BANK CORP COM 587376104 879 46,149 SH   DFND 1 46,149 0 0
MERCANTILE BANK CORP COM 587376104 1,549 81,334 SH   SOLE   81,334 0 0
MERCHANTS BANCSHARES COM 588448100 1,261 44,749 SH   DFND 1 44,749 0 0
MERCHANTS BANCSHARES COM 588448100 2,232 79,164 SH   SOLE   79,164 0 0
META FINL GROUP INC COM 59100U108 2,564 72,726 SH   DFND 1 72,726 0 0
META FINL GROUP INC COM 59100U108 4,537 128,674 SH   SOLE   128,674 0 0
METRO BANCORP INC PA COM 59161R101 3,848 158,663 SH   DFND 1 158,663 0 0
METRO BANCORP INC PA COM 59161R101 6,807 280,693 SH   SOLE   280,693 0 0
NAUGATUCK VY FINL CORP MD COM 63906P107 544 69,514 SH   DFND 1 69,514 0 0
NAUGATUCK VY FINL CORP MD COM 63906P107 921 117,730 SH   SOLE   117,730 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 3,260 176,980 SH   DFND 1 176,980 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 5,766 313,020 SH   SOLE   313,020 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 2,871 162,500 SH   DFND 1 162,500 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 5,080 287,500 SH   SOLE   287,500 0 0
OLD LINE BANCSHARES INC COM 67984M100 1,456 94,054 SH   DFND 1 94,054 0 0
OLD LINE BANCSHARES INC COM 67984M100 2,575 166,347 SH   SOLE   166,347 0 0
PACWEST BANCORP DEL COM 695263103 2,405 58,330 SH   DFND 1 58,330 0 0
PACWEST BANCORP DEL COM 695263103 4,254 103,170 SH   SOLE   103,170 0 0
PEOPLES BANCORP INC COM 709789101 2,071 87,191 SH   DFND 1 87,191 0 0
PEOPLES BANCORP INC COM 709789101 3,665 154,316 SH   SOLE   154,316 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,936 34,307 SH   DFND 1 34,307 0 0
PNC FINL SVCS GROUP INC COM 693475105 5,194 60,693 SH   SOLE   60,693 0 0
QCR HOLDINGS INC COM 74727A104 718 40,644 SH   DFND 1 40,644 0 0
QCR HOLDINGS INC COM 74727A104 1,270 71,934 SH   SOLE   71,934 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 3,403 311,318 SH   DFND 1 311,318 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 5,997 548,682 SH   SOLE   548,682 0 0
SIMPLICITY BANCORP COM 828867101 4,243 252,549 SH   DFND 1 252,549 0 0
SIMPLICITY BANCORP COM 828867101 7,507 446,851 SH   SOLE   446,851 0 0
SQUARE 1 FINL INC CL A 85223W101 1,042 54,169 SH   DFND 1 54,169 0 0
SQUARE 1 FINL INC CL A 85223W101 1,843 95,831 SH   SOLE   95,831 0 0
TALMER BANCORP INC COM 87482X101 1,748 126,394 SH   DFND 1 126,394 0 0
TALMER BANCORP INC COM 87482X101 3,092 223,606 SH   SOLE   223,606 0 0
US BANCORP DEL COM NEW 902973304 2,266 54,169 SH   DFND 1 54,169 0 0
US BANCORP DEL COM NEW 902973304 4,009 95,831 SH   SOLE   95,831 0 0
WALKER & DUNLOP INC COM 93148P102 2,024 152,292 SH   DFND 1 152,292 0 0
WALKER & DUNLOP INC COM 93148P102 3,583 269,608 SH   SOLE   269,608 0 0
WESTBURY BANCORP INC COM 95727P106 2,043 135,776 SH   DFND 1 135,776 0 0
WESTBURY BANCORP INC COM 95727P106 3,615 240,224 SH   SOLE   240,224 0 0