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 1,734 39,777 SH   SOLE   39,777 0 0
AMERIS BANCORP COM 03076K108 3,626 83,161 SH   DFND 1 83,161 0 0
AMERIS BANCORP COM 03076K108 3,987 91,434 SH   DFND 2 91,434 0 0
CITIZENS FINL GROUP INC COM 174610105 748 21,000 SH   SOLE   21,000 0 0
CITIZENS FINL GROUP INC COM 174610105 1,568 44,015 SH   DFND 1 44,015 0 0
CITIZENS FINL GROUP INC COM 174610105 1,726 48,434 SH   DFND 2 48,434 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 736 37,892 SH   SOLE   37,892 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,492 76,778 SH   DFND 1 76,778 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,658 85,330 SH   DFND 2 85,330 0 0
COMERICA INC COM 200340107 1,444 21,206 SH   SOLE   21,206 0 0
COMERICA INC *W EXP 11/14/201 200340115 826 21,315 SH   SOLE   21,315 0 0
COMERICA INC COM 200340107 3,027 44,446 SH   DFND 1 44,446 0 0
COMERICA INC *W EXP 11/14/201 200340115 1,746 45,056 SH   DFND 1 45,056 0 0
COMERICA INC COM 200340107 3,331 48,910 SH   DFND 2 48,910 0 0
COMERICA INC *W EXP 11/14/201 200340115 1,884 48,629 SH   DFND 2 48,629 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,836 391,116 SH   SOLE   391,116 0 0
COMMUNITY BANKERS TR CORP COM 203612106 5,941 819,491 SH   DFND 1 819,491 0 0
COMMUNITY BANKERS TR CORP COM 203612106 6,543 902,523 SH   DFND 2 902,523 0 0
ENTEGRA FINL CORP COM 29363J108 394 19,143 SH   SOLE   19,143 0 0
ENTEGRA FINL CORP COM 29363J108 826 40,108 SH   DFND 1 40,108 0 0
ENTEGRA FINL CORP COM 29363J108 909 44,137 SH   DFND 2 44,137 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 595 17,679 SH   SOLE   17,679 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 1,245 37,007 SH   DFND 1 37,007 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 1,376 40,897 SH   DFND 2 40,897 0 0
EVANS BANCORP INC COM NEW 29911Q208 988 31,318 SH   SOLE   31,318 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,070 65,602 SH   DFND 1 65,602 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,287 72,498 SH   DFND 2 72,498 0 0
FARMERS CAP BK CORP COM 309562106 1,239 29,455 SH   SOLE   29,455 0 0
FARMERS CAP BK CORP COM 309562106 2,595 61,710 SH   DFND 1 61,710 0 0
FARMERS CAP BK CORP COM 309562106 2,868 68,198 SH   DFND 2 68,198 0 0
FIRST BANCORP N C COM 318910106 644 23,734 SH   SOLE   23,734 0 0
FIRST BANCORP N C COM 318910106 1,392 51,291 SH   DFND 1 51,291 0 0
FIRST BANCORP N C COM 318910106 1,542 56,831 SH   DFND 2 56,831 0 0
FIRST BANCORP P R COM NEW 318672706 1,124 170,058 SH   SOLE   170,058 0 0
FIRST BANCORP P R COM NEW 318672706 2,278 344,611 SH   DFND 1 344,611 0 0
FIRST BANCORP P R COM NEW 318672706 2,547 385,331 SH   DFND 2 385,331 0 0
FIRST BANCSHARES INC MS COM 318916103 1,316 47,863 SH   SOLE   47,863 0 0
FIRST BANCSHARES INC MS COM 318916103 2,753 100,125 SH   DFND 1 100,125 0 0
FIRST BANCSHARES INC MS COM 318916103 3,045 110,733 SH   DFND 2 110,733 0 0
FIRST FNDTN INC COM 32026V104 1,071 37,580 SH   SOLE   37,580 0 0
FIRST FNDTN INC COM 32026V104 2,250 78,963 SH   DFND 1 78,963 0 0
FIRST FNDTN INC COM 32026V104 2,479 86,984 SH   DFND 2 86,984 0 0
FIRST MERCHANTS CORP COM 320817109 2,014 53,489 SH   SOLE   53,489 0 0
FIRST MERCHANTS CORP COM 320817109 4,221 112,109 SH   DFND 1 112,109 0 0
FIRST MERCHANTS CORP COM 320817109 4,645 123,367 SH   DFND 2 123,367 0 0
GREAT WESTN BANCORP INC COM 391416104 1,577 36,184 SH   SOLE   36,184 0 0
GREAT WESTN BANCORP INC COM 391416104 3,300 75,705 SH   DFND 1 75,705 0 0
GREAT WESTN BANCORP INC COM 391416104 3,629 83,247 SH   DFND 2 83,247 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 630 26,042 SH   SOLE   26,042 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 1,321 54,582 SH   DFND 1 54,582 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 1,454 60,063 SH   DFND 2 60,063 0 0
HERITAGE FINL CORP WASH COM 42722X106 942 36,600 SH   SOLE   36,600 0 0
HERITAGE FINL CORP WASH COM 42722X106 1,998 77,600 SH   DFND 1 77,600 0 0
HERITAGE FINL CORP WASH COM 42722X106 2,209 85,800 SH   DFND 2 85,800 0 0
INDEPENDENT BK GROUP INC COM 45384B106 1,216 19,482 SH   SOLE   19,482 0 0
INDEPENDENT BK GROUP INC COM 45384B106 2,542 40,736 SH   DFND 1 40,736 0 0
INDEPENDENT BK GROUP INC COM 45384B106 2,794 44,782 SH   DFND 2 44,782 0 0
KEYCORP NEW COM 493267108 2,247 123,000 SH   SOLE   123,000 0 0
KEYCORP NEW COM 493267108 4,710 257,798 SH   DFND 1 257,798 0 0
KEYCORP NEW COM 493267108 5,183 283,688 SH   DFND 2 283,688 0 0
MERCANTILE BANK CORP COM 587376104 608 16,120 SH   SOLE   16,120 0 0
MERCANTILE BANK CORP COM 587376104 1,238 32,846 SH   DFND 1 32,846 0 0
MERCANTILE BANK CORP COM 587376104 1,353 35,899 SH   DFND 2 35,899 0 0
MERCHANTS BANCSHARES COM 588448100 2,206 40,692 SH   SOLE   40,692 0 0
MERCHANTS BANCSHARES COM 588448100 4,589 84,676 SH   DFND 1 84,676 0 0
MERCHANTS BANCSHARES COM 588448100 5,031 92,832 SH   DFND 2 92,832 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 770 20,481 SH   SOLE   20,481 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 1,614 42,921 SH   DFND 1 42,921 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 1,783 47,428 SH   DFND 2 47,428 0 0
NATIONAL COMM CORP COM 63546L102 919 24,742 SH   SOLE   24,742 0 0
NATIONAL COMM CORP COM 63546L102 1,926 51,857 SH   DFND 1 51,857 0 0
NATIONAL COMM CORP COM 63546L102 2,120 57,065 SH   DFND 2 57,065 0 0
PACWEST BANCORP DEL COM 695263103 1,415 25,992 SH   SOLE   25,992 0 0
PACWEST BANCORP DEL COM 695263103 2,957 54,314 SH   DFND 1 54,314 0 0
PACWEST BANCORP DEL COM 695263103 3,250 59,694 SH   DFND 2 59,694 0 0
PNC FINL SVCS GROUP INC COM 693475105 1,344 11,489 SH   SOLE   11,489 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,816 24,080 SH   DFND 1 24,080 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,099 26,498 SH   DFND 2 26,498 0 0
PROVIDENT BANCORP INC COM 74383X109 721 40,306 SH   SOLE   40,306 0 0
PROVIDENT BANCORP INC COM 74383X109 1,535 85,778 SH   DFND 1 85,778 0 0
PROVIDENT BANCORP INC COM 74383X109 1,680 93,857 SH   DFND 2 93,857 0 0
QCR HOLDINGS INC COM 74727A104 2,397 55,350 SH   SOLE   55,350 0 0
QCR HOLDINGS INC COM 74727A104 4,982 115,055 SH   DFND 1 115,055 0 0
QCR HOLDINGS INC COM 74727A104 5,513 127,318 SH   DFND 2 127,318 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 1,841 83,462 SH   SOLE   83,462 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 3,851 174,552 SH   DFND 1 174,552 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 4,235 191,986 SH   DFND 2 191,986 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 977 6,505 SH   SOLE   6,505 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 2,033 13,533 SH   DFND 1 13,533 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 2,247 14,962 SH   DFND 2 14,962 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 758 21,056 SH   SOLE   21,056 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 1,588 44,115 SH   DFND 1 44,115 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 1,748 48,548 SH   DFND 2 48,548 0 0
TRISTATE CAP HLDGS INC COM 89678F100 1,757 79,515 SH   SOLE   79,515 0 0
TRISTATE CAP HLDGS INC COM 89678F100 3,683 166,657 SH   DFND 1 166,657 0 0
TRISTATE CAP HLDGS INC COM 89678F100 4,053 183,394 SH   DFND 2 183,394 0 0
VERITEX HLDGS INC COM 923451108 1,923 72,003 SH   SOLE   72,003 0 0
VERITEX HLDGS INC COM 923451108 4,098 153,410 SH   DFND 1 153,410 0 0
VERITEX HLDGS INC COM 923451108 4,526 169,450 SH   DFND 2 169,450 0 0
WESTERN ALLIANCE BANCORP COM 957638109 833 17,100 SH   SOLE   17,100 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,746 35,840 SH   DFND 1 35,840 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,921 39,440 SH   DFND 2 39,440 0 0
YADKIN FINL CORP COM 984305102 698 20,385 SH   SOLE   20,385 0 0
YADKIN FINL CORP COM 984305102 1,607 46,914 SH   DFND 1 46,914 0 0
YADKIN FINL CORP COM 984305102 1,815 52,963 SH   DFND 2 52,963 0 0
ZIONS BANCORPORATION COM 989701107 798 18,539 SH   SOLE   18,539 0 0
ZIONS BANCORPORATION COM 989701107 1,670 38,797 SH   DFND 1 38,797 0 0
ZIONS BANCORPORATION COM 989701107 1,836 42,664 SH   DFND 2 42,664 0 0