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
AMERICAN RIVER BANKSHARES COM COMMON 029326105 2,114 142,641 SH   SOLE   142,641 0 0
AMERISERV FINL INC COM COMMON 03074A102 3,093 824,815 SH   SOLE   824,815 0 0
California First National Bancorp COMMON 130222102 6,366 392,933 SH   SOLE   392,933 0 0
CENTURY BANCORP INC MASS CL A NON VTG COMMON 156432106 1,924 31,634 SH   SOLE   31,634 0 0
CHEMUNG FINL CORP COM COMMON 164024101 4,588 116,149 SH   SOLE   116,149 0 0
CITIZENS FINL GROUP INC COM COMMON 174610105 7,145 206,800 SH   SOLE   206,800 0 0
Comerica Inc COMMON 200340107 7,746 112,946 SH   SOLE   112,946 0 0
Community West Bancshares COMMON 204157101 1,005 98,485 SH   SOLE   98,485 0 0
CODORUS VY BANCORP INC COMMON 192025104 1,089 42,042 SH   SOLE   42,042 0 0
DNB FINL CORP COM COMMON 233237106 2,160 63,521 SH   SOLE   63,521 0 0
FBR & CO COM NEW COMMON 30247C400 747 41,377 SH   SOLE   41,377 0 0
FIRST FNDTN INC COM COMMON 32026V104 2,329 150,131 SH   SOLE   150,131 0 0
FIRST UTD CORP COM COMMON 33741H107 9,107 628,078 SH   SOLE   628,078 0 0
GEORGETOWN BANCORP INC COMMON 372591107 214 8,291 SH   SOLE   8,291 0 0
HMN Financial Inc COMMON 40424G108 1,388 76,904 SH   SOLE   76,904 0 0
HopFed Bancorp Inc COMMON 439734104 870 60,754 SH   SOLE   60,754 0 0
ICC HOLDINGS INC COMMON 44931Q104 371 22,600 SH   SOLE   22,600 0 0
MAGYAR BANCORP INC COM COMMON 55977T109 1,891 145,428 SH   SOLE   145,428 0 0
Middleburg Financial Corp COMMON 596094102 8,660 216,282 SH   SOLE   216,282 0 0
NI HOLDINGS INC COMMON 65342T106 2,200 147,363 SH   SOLE   147,363 0 0
OAK VALLEY BANCORP COMMON 671807105 157 11,905 SH   SOLE   11,905 0 0
PB BANCORP INC COMMON 70454T100 2,185 214,226 SH   SOLE   214,226 0 0
PEOPLES FINL CORP MISS COM COMMON 71103B102 3,353 222,778 SH   SOLE   222,778 0 0
PEOPLES UTAH BANCORP COM COMMON 712706209 1,041 39,351 SH   SOLE   39,351 0 0
PROVIDENT FINL HLDGS INC COM COMMON 743868101 996 53,380 SH   SOLE   53,380 0 0
RANDOLPH BANCORP INC COMMON 752378109 3,638 234,740 SH   SOLE   234,740 0 0
SOUND FINL BANCORP INC COM COMMON 83607A100 2,919 91,973 SH   SOLE   91,973 0 0
STONECASTLE FINANCIAL CORP COMMON 861780104 2,046 101,486 SH   SOLE   101,486 0 0
STONEGATE MTG CORP COM COMMON 86181Q300 3,701 464,934 SH   SOLE   464,934 0 0
TWO RIV BANCORP COM COMMON 90207C105 863 48,833 SH   SOLE   48,833 0 0
WESTERN NEW ENGLAND BANCORP COMMON 958892101 2,975 283,298 SH   SOLE   283,298 0 0
ZIONS BANCORPORATION COM COMMON 989701107 5,788 137,800 SH   SOLE   137,800 0 0