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 1,870 38,955 SH   SOLE   38,955 0 0
AMERIS BANCORP COM 03076K108 6,536 136,163 SH   DFND 1 136,163 0 0
AMERIS BANCORP COM 03076K108 4,484 93,414 SH   DFND 2 93,414 0 0
ASTORIA FINL CORP COM 046265104 1,886 87,710 SH   SOLE   87,710 0 0
ASTORIA FINL CORP COM 046265104 6,582 306,139 SH   DFND 1 306,139 0 0
ASTORIA FINL CORP COM 046265104 154 7,156 SH   DFND 2 7,156 0 0
BYLINE BANCORP INC COM 124411109 920 43,296 SH   SOLE   43,296 0 0
BYLINE BANCORP INC COM 124411109 3,217 151,311 SH   DFND 1 151,311 0 0
BYLINE BANCORP INC COM 124411109 2,208 103,871 SH   DFND 2 103,871 0 0
CHEMICAL FINL CORP COM 163731102 1,137 21,750 SH   SOLE   21,750 0 0
CHEMICAL FINL CORP COM 163731102 3,974 76,050 SH   DFND 1 76,050 0 0
CHEMICAL FINL CORP COM 163731102 2,728 52,200 SH   DFND 2 52,200 0 0
CITIZENS FINL GROUP INC COM 174610105 1,291 34,090 SH   SOLE   34,090 0 0
CITIZENS FINL GROUP INC COM 174610105 4,513 119,158 SH   DFND 1 119,158 0 0
CITIZENS FINL GROUP INC COM 174610105 3,096 81,752 SH   DFND 2 81,752 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 1,085 48,571 SH   SOLE   48,571 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 3,792 169,746 SH   DFND 1 169,746 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 2,603 116,526 SH   DFND 2 116,526 0 0
COMERICA INC COM 200340107 1,062 13,923 SH   SOLE   13,923 0 0
COMERICA INC COM 200340107 3,711 48,666 SH   DFND 1 48,666 0 0
COMERICA INC COM 200340107 2,546 33,388 SH   DFND 2 33,388 0 0
COMMUNITY BANKERS TR CORP COM 203612106 2,040 221,752 SH   SOLE   221,752 0 0
COMMUNITY BANKERS TR CORP COM 203612106 7,131 775,080 SH   DFND 1 775,080 0 0
COMMUNITY BANKERS TR CORP COM 203612106 4,892 531,733 SH   DFND 2 531,733 0 0
ENTEGRA FINL CORP COM 29363J108 993 39,790 SH   SOLE   39,790 0 0
ENTEGRA FINL CORP COM 29363J108 3,470 139,059 SH   DFND 1 139,059 0 0
ENTEGRA FINL CORP COM 29363J108 2,382 95,459 SH   DFND 2 95,459 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 1,136 31,921 SH   SOLE   31,921 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 3,970 111,576 SH   DFND 1 111,576 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 2,724 76,547 SH   DFND 2 76,547 0 0
EVANS BANCORP INC COM NEW 29911Q208 699 16,174 SH   SOLE   16,174 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,236 51,768 SH   DFND 1 51,768 0 0
EVANS BANCORP INC COM NEW 29911Q208 1,662 38,483 SH   DFND 2 38,483 0 0
FARMERS CAP BK CORP COM 309562106 842 20,022 SH   SOLE   20,022 0 0
FARMERS CAP BK CORP COM 309562106 2,942 69,973 SH   DFND 1 69,973 0 0
FARMERS CAP BK CORP COM 309562106 2,020 48,034 SH   DFND 2 48,034 0 0
FIRST BANCORP N C COM 318910106 1,126 32,736 SH   SOLE   32,736 0 0
FIRST BANCORP N C COM 318910106 3,937 114,425 SH   DFND 1 114,425 0 0
FIRST BANCORP N C COM 318910106 2,701 78,501 SH   DFND 2 78,501 0 0
FIRST BANCSHARES INC MS COM 318916103 1,411 46,815 SH   SOLE   46,815 0 0
FIRST BANCSHARES INC MS COM 318916103 4,934 163,636 SH   DFND 1 163,636 0 0
FIRST BANCSHARES INC MS COM 318916103 3,385 112,263 SH   DFND 2 112,263 0 0
FIRST FNDTN INC COM 32026V104 1,023 57,198 SH   SOLE   57,198 0 0
FIRST FNDTN INC COM 32026V104 3,577 199,929 SH   DFND 1 199,929 0 0
FIRST FNDTN INC COM 32026V104 2,454 137,162 SH   DFND 2 137,162 0 0
FIRST MERCHANTS CORP COM 320817109 1,453 33,849 SH   SOLE   33,849 0 0
FIRST MERCHANTS CORP COM 320817109 5,079 118,310 SH   DFND 1 118,310 0 0
FIRST MERCHANTS CORP COM 320817109 3,484 81,162 SH   DFND 2 81,162 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 478 14,955 SH   SOLE   14,955 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 1,531 47,848 SH   DFND 1 47,848 0 0
GUARANTY BANCSHARES INC TEX COM 400764106 1,138 35,582 SH   DFND 2 35,582 0 0
INDEPENDENT BK GROUP INC COM 45384B106 1,063 17,631 SH   SOLE   17,631 0 0
INDEPENDENT BK GROUP INC COM 45384B106 3,716 61,627 SH   DFND 1 61,627 0 0
INDEPENDENT BK GROUP INC COM 45384B106 2,549 42,280 SH   DFND 2 42,280 0 0
KEYCORP NEW COM 493267108 2,161 114,826 SH   SOLE   114,826 0 0
KEYCORP NEW COM 493267108 7,554 401,369 SH   DFND 1 401,369 0 0
KEYCORP NEW COM 493267108 5,182 275,369 SH   DFND 2 275,369 0 0
NATIONAL COMM CORP COM 63546L102 775 18,101 SH   SOLE   18,101 0 0
NATIONAL COMM CORP COM 63546L102 2,708 63,270 SH   DFND 1 63,270 0 0
NATIONAL COMM CORP COM 63546L102 1,858 43,406 SH   DFND 2 43,406 0 0
OLD LINE BANCSHARES INC COM 67984M100 608 21,731 SH   SOLE   21,731 0 0
OLD LINE BANCSHARES INC COM 67984M100 2,127 75,957 SH   DFND 1 75,957 0 0
OLD LINE BANCSHARES INC COM 67984M100 1,459 52,112 SH   DFND 2 52,112 0 0
OPUS BK IRVINE CALIF COM 684000102 1,059 44,131 SH   SOLE   44,131 0 0
OPUS BK IRVINE CALIF COM 684000102 3,702 154,255 SH   DFND 1 154,255 0 0
OPUS BK IRVINE CALIF COM 684000102 2,540 105,827 SH   DFND 2 105,827 0 0
PACWEST BANCORP DEL COM 695263103 1,221 24,179 SH   SOLE   24,179 0 0
PACWEST BANCORP DEL COM 695263103 4,269 84,516 SH   DFND 1 84,516 0 0
PACWEST BANCORP DEL COM 695263103 2,929 57,985 SH   DFND 2 57,985 0 0
PNC FINL SVCS GROUP INC COM 693475105 1,356 10,059 SH   SOLE   10,059 0 0
PNC FINL SVCS GROUP INC COM 693475105 4,739 35,160 SH   DFND 1 35,160 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,251 24,122 SH   DFND 2 24,122 0 0
PROVIDENT BANCORP INC COM 74383X109 802 34,642 SH   SOLE   34,642 0 0
PROVIDENT BANCORP INC COM 74383X109 2,612 112,825 SH   DFND 1 112,825 0 0
PROVIDENT BANCORP INC COM 74383X109 1,911 82,533 SH   DFND 2 82,533 0 0
QCR HOLDINGS INC COM 74727A104 1,851 40,688 SH   SOLE   40,688 0 0
QCR HOLDINGS INC COM 74727A104 6,471 142,220 SH   DFND 1 142,220 0 0
QCR HOLDINGS INC COM 74727A104 4,439 97,571 SH   DFND 2 97,571 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 713 46,400 SH   SOLE   46,400 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 2,494 162,240 SH   DFND 1 162,240 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 1,712 111,360 SH   DFND 2 111,360 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 978 7,637 SH   SOLE   7,637 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 3,418 26,694 SH   DFND 1 26,694 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 2,345 18,314 SH   DFND 2 18,314 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 977 26,885 SH   SOLE   26,885 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 3,416 93,973 SH   DFND 1 93,973 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,344 64,471 SH   DFND 2 64,471 0 0
STERLING BANCORP DEL COM 85917A100 4,368 177,219 SH   DFND 2 177,219 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 1,834 50,046 SH   SOLE   50,046 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 6,410 174,935 SH   DFND 1 174,935 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 4,397 120,019 SH   DFND 2 120,019 0 0
TRISTATE CAP HLDGS INC COM 89678F100 783 34,205 SH   SOLE   34,205 0 0
TRISTATE CAP HLDGS INC COM 89678F100 2,738 119,560 SH   DFND 1 119,560 0 0
TRISTATE CAP HLDGS INC COM 89678F100 1,878 82,024 SH   DFND 2 82,024 0 0
VERITEX HLDGS INC COM 923451108 1,418 52,596 SH   SOLE   52,596 0 0
VERITEX HLDGS INC COM 923451108 4,956 183,843 SH   DFND 1 183,843 0 0
VERITEX HLDGS INC COM 923451108 3,400 126,126 SH   DFND 2 126,126 0 0
WESTERN ALLIANCE BANCORP COM 957638109 1,337 25,192 SH   SOLE   25,192 0 0
WESTERN ALLIANCE BANCORP COM 957638109 4,674 88,057 SH   DFND 1 88,057 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,207 60,414 SH   DFND 2 60,414 0 0