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 1,893 39,273 SH   SOLE   39,273 0 0
AMERIS BANCORP COM 03076K108 5,589 115,944 SH   DFND 1 115,944 0 0
AMERIS BANCORP COM 03076K108 4,409 91,482 SH   DFND 2 91,482 0 0
BYLINE BANCORP INC COM 124411109 710 35,421 SH   SOLE   35,421 0 0
BYLINE BANCORP INC COM 124411109 2,099 104,704 SH   DFND 1 104,704 0 0
BYLINE BANCORP INC COM 124411109 1,657 82,650 SH   DFND 2 82,650 0 0
CITIZENS FINL GROUP INC COM 174610105 671 18,796 SH   SOLE   18,796 0 0
CITIZENS FINL GROUP INC COM 174610105 1,982 55,561 SH   DFND 1 55,561 0 0
CITIZENS FINL GROUP INC COM 174610105 1,565 43,858 SH   DFND 2 43,858 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 763 36,523 SH   SOLE   36,523 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 2,255 107,976 SH   DFND 1 107,976 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,777 85,116 SH   DFND 2 85,116 0 0
COMERICA INC COM 200340107 1,505 20,545 SH   SOLE   20,545 0 0
COMERICA INC COM 200340107 4,442 60,654 SH   DFND 1 60,654 0 0
COMERICA INC COM 200340107 3,505 47,857 SH   DFND 2 47,857 0 0
COMMUNITY BK SYS INC COM 203607106 820 14,695 SH   SOLE   14,695 0 0
COMMUNITY BK SYS INC COM 203607106 2,004 35,926 SH   DFND 1 35,926 0 0
COMMUNITY BK SYS INC COM 203607106 1,579 28,320 SH   DFND 2 28,320 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,170 263,040 SH   SOLE   263,040 0 0
COMMUNITY BANKERS TR CORP COM 203612106 6,188 750,052 SH   DFND 1 750,052 0 0
COMMUNITY BANKERS TR CORP COM 203612106 5,568 674,906 SH   DFND 2 674,906 0 0
ENTEGRA FINL CORP COM 29363J108 864 37,967 SH   SOLE   37,967 0 0
ENTEGRA FINL CORP COM 29363J108 2,551 112,146 SH   DFND 1 112,146 0 0
ENTEGRA FINL CORP COM 29363J108 2,013 88,482 SH   DFND 2 88,482 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 881 28,741 SH   SOLE   28,741 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 2,601 84,894 SH   DFND 1 84,894 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 2,052 66,981 SH   DFND 2 66,981 0 0
EVANS BANCORP INC COM NEW 29911Q208 757 18,940 SH   SOLE   18,940 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,235 55,944 SH   DFND 1 55,944 0 0
EVANS BANCORP INC COM NEW 29911Q208 1,763 44,139 SH   DFND 2 44,139 0 0
FARMERS CAP BK CORP COM 309562106 772 20,022 SH   SOLE   20,022 0 0
FARMERS CAP BK CORP COM 309562106 2,279 59,108 SH   DFND 1 59,108 0 0
FARMERS CAP BK CORP COM 309562106 1,798 46,637 SH   DFND 2 46,637 0 0
FIRST BANCORP N C COM 318910106 978 31,284 SH   SOLE   31,284 0 0
FIRST BANCORP N C COM 318910106 2,889 92,406 SH   DFND 1 92,406 0 0
FIRST BANCORP N C COM 318910106 2,279 72,908 SH   DFND 2 72,908 0 0
FIRST BANCSHARES INC MS COM 318916103 1,294 46,901 SH   SOLE   46,901 0 0
FIRST BANCSHARES INC MS COM 318916103 3,628 131,432 SH   DFND 1 131,432 0 0
FIRST BANCSHARES INC MS COM 318916103 3,329 120,617 SH   DFND 2 120,617 0 0
FIRST FNDTN INC COM 32026V104 983 59,811 SH   SOLE   59,811 0 0
FIRST FNDTN INC COM 32026V104 2,903 176,670 SH   DFND 1 176,670 0 0
FIRST FNDTN INC COM 32026V104 2,290 139,392 SH   DFND 2 139,392 0 0
FIRST MERCHANTS CORP COM 320817109 1,533 38,199 SH   SOLE   38,199 0 0
FIRST MERCHANTS CORP COM 320817109 4,529 112,830 SH   DFND 1 112,830 0 0
FIRST MERCHANTS CORP COM 320817109 3,573 89,022 SH   DFND 2 89,022 0 0
GREAT WESTN BANCORP INC COM 391416104 1,079 26,437 SH   SOLE   26,437 0 0
GREAT WESTN BANCORP INC COM 391416104 3,185 78,050 SH   DFND 1 78,050 0 0
GREAT WESTN BANCORP INC COM 391416104 2,513 61,583 SH   DFND 2 61,583 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 478 14,955 SH   SOLE   14,955 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 1,411 44,176 SH   DFND 1 44,176 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 1,114 34,855 SH   DFND 2 34,855 0 0
INDEPENDENT BK GROUP INC COM 45384B106 846 14,218 SH   SOLE   14,218 0 0
INDEPENDENT BK GROUP INC COM 45384B106 2,499 41,998 SH   DFND 1 41,998 0 0
INDEPENDENT BK GROUP INC COM 45384B106 1,972 33,137 SH   DFND 2 33,137 0 0
KEYCORP NEW COM 493267108 1,516 80,916 SH   SOLE   80,916 0 0
KEYCORP NEW COM 493267108 4,477 238,884 SH   DFND 1 238,884 0 0
KEYCORP NEW COM 493267108 3,532 188,484 SH   DFND 2 188,484 0 0
NATIONAL COMM CORP COM 63546L102 716 18,101 SH   SOLE   18,101 0 0
NATIONAL COMM CORP COM 63546L102 2,115 53,466 SH   DFND 1 53,466 0 0
NATIONAL COMM CORP COM 63546L102 1,668 42,184 SH   DFND 2 42,184 0 0
OPUS BK IRVINE CALIF COM 684000102 1,257 51,933 SH   SOLE   51,933 0 0
OPUS BK IRVINE CALIF COM 684000102 3,712 153,399 SH   DFND 1 153,399 0 0
OPUS BK IRVINE CALIF COM 684000102 2,929 121,031 SH   DFND 2 121,031 0 0
PACWEST BANCORP DEL COM 695263103 698 14,943 SH   SOLE   14,943 0 0
PACWEST BANCORP DEL COM 695263103 2,061 44,138 SH   DFND 1 44,138 0 0
PACWEST BANCORP DEL COM 695263103 1,626 34,824 SH   DFND 2 34,824 0 0
PNC FINL SVCS GROUP INC COM 693475105 1,212 9,704 SH   SOLE   9,704 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,577 28,649 SH   DFND 1 28,649 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,823 22,605 SH   DFND 2 22,605 0 0
PROVIDENT BANCORP INC COM 74383X109 766 34,064 SH   SOLE   34,064 0 0
PROVIDENT BANCORP INC COM 74383X109 2,152 95,656 SH   DFND 1 95,656 0 0
PROVIDENT BANCORP INC COM 74383X109 1,974 87,721 SH   DFND 2 87,721 0 0
QCR HOLDINGS INC COM 74727A104 1,929 40,688 SH   SOLE   40,688 0 0
QCR HOLDINGS INC COM 74727A104 5,694 120,119 SH   DFND 1 120,119 0 0
QCR HOLDINGS INC COM 74727A104 4,492 94,776 SH   DFND 2 94,776 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 680 4,736 SH   SOLE   4,736 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 2,007 13,984 SH   DFND 1 13,984 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 1,584 11,034 SH   DFND 2 11,034 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 996 26,885 SH   SOLE   26,885 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,942 79,412 SH   DFND 1 79,412 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,321 62,655 SH   DFND 2 62,655 0 0
STERLING BANCORP DEL COM 85917A100 1,797 77,295 SH   SOLE   77,295 0 0
STERLING BANCORP DEL COM 85917A100 5,306 228,195 SH   DFND 1 228,195 0 0
STERLING BANCORP DEL COM 85917A100 4,186 180,051 SH   DFND 2 180,051 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 1,581 46,354 SH   SOLE   46,354 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 4,669 136,921 SH   DFND 1 136,921 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 3,684 108,030 SH   DFND 2 108,030 0 0
TRISTATE CAP HLDGS INC COM 89678F100 862 34,205 SH   SOLE   34,205 0 0
TRISTATE CAP HLDGS INC COM 89678F100 2,546 101,034 SH   DFND 1 101,034 0 0
TRISTATE CAP HLDGS INC COM 89678F100 2,009 79,715 SH   DFND 2 79,715 0 0
VERITEX HLDGS INC COM 923451108 1,410 53,545 SH   SOLE   53,545 0 0
VERITEX HLDGS INC COM 923451108 4,162 158,079 SH   DFND 1 158,079 0 0
VERITEX HLDGS INC COM 923451108 3,284 124,728 SH   DFND 2 124,728 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,014 20,602 SH   SOLE   20,602 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,994 60,853 SH   DFND 1 60,853 0 0
WESTERN ALLIANCE BANCORP COM 957638109 2,362 48,012 SH   DFND 2 48,012 0 0