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 Intl Group Inc COM NEW 026874784 1,229 22,510 SH   SOLE 0 22,510 0 0
Attunity Ltd SHS NEW M15332121 879 113,120 SH   SOLE 0 113,120 0 0
Bankfinancial Corp COM 06643P104 1,946 174,361 SH   SOLE 0 174,361 0 0
Bsb Bancorp Inc MD COM 05573H108 3,037 176,986 SH   SOLE 0 176,986 0 0
Capital Bk Finl Corp CL A COM 139794101 3,208 135,891 SH   SOLE 0 135,891 0 0
Chicopee Bancorp Inc COM 168565109 1,800 106,318 SH   SOLE 0 106,318 0 0
Clubcorp Hldgs Inc COM 18948M108 629 34,160 SH   SOLE 0 34,160 0 0
Crocs Inc COM 227046109 796 52,930 SH   SOLE 0 52,930 0 0
Fox Chase Bancorp Inc New COM 35137T108 1,304 77,323 SH   SOLE 0 77,323 0 0
Genworth Finl Inc COM CL A 37247D106 1,014 58,270 SH   SOLE 0 58,270 0 0
Guaranty Bancorp Del COM NEW 40075T607 1,119 80,500 SH   SOLE 0 80,500 0 0
Hampden Bancorp Inc COM 40867E107 4,001 237,320 SH   SOLE 0 237,320 0 0
Heritage Commerce Corp COM 426927109 1,845 227,261 SH   SOLE 0 227,261 0 0
Heritage Oaks Bancorp COM 42724R107 1,272 166,676 SH   SOLE 0 166,676 0 0
Home Bancorp Inc COM 43689E107 1,215 55,164 SH   SOLE 0 55,164 0 0
Howard Hughes Corp COM 44267D107 1,064 6,740 SH   SOLE 0 6,740 0 0
Hudson Valley Holding Corp COM 444172100 1,035 57,590 SH   SOLE 0 57,590 0 0
Kofax Ltd COM USD G5307C105 502 58,379 SH   SOLE 0 58,379 0 0
Limoneira Co COM 532746104 1,162 52,980 SH   SOLE 0 52,980 0 0
Loral Space & Communicatns I COM 543881106 826 11,360 SH   SOLE 0 11,360 0 0
Meridian Interstat Bancorp I COM 58964Q104 895 85,350 SH   SOLE 0 85,350 0 0
Metro Bancorp Inc PA COM 59161R101 4,480 193,790 SH   SOLE 0 193,790 0 0
National Bk Hldgs Corp CL A 633707104 4,101 205,690 SH   SOLE 0 205,690 0 0
Nexstar Broadcasting Group I CL A 65336K103 1,181 22,880 SH   SOLE 0 22,880 0 0
Northrim Bancorp Inc COM 666762109 2,006 78,448 SH   SOLE 0 78,448 0 0
Ocean Shore Hldg Co New' COM 67501R103 4,663 319,576 SH   SOLE 0 319,576 0 0
Pacific Mercantile Bancorp COM 694552100 5,072 761,616 SH   SOLE 0 761,616 0 0
Pacific Premier Bancorp COM 69478X105 1,132 80,320 SH   SOLE 0 80,320 0 0
Ellis Perry Intl Inc COM 288853104 2,256 129,350 SH   SOLE 0 129,350 0 0
PNC Finl Svcs Group Inc *W EXP 12/31/201 693475121 889 34,190 SH   SOLE 0 34,190 0 0
Proshares TR ULTSHT RUSS2000 74348A319 892 20,740 SH   SOLE 0 20,740 0 0
Proshares TR II PSHS ULTRA YEN 74347W569 1,605 24,730 SH   SOLE 0 24,730 0 0
Select Comfort Corp COM 81616X103 874 42,300 SH   SOLE 0 42,300 0 0
Simplicity Bancorp COM 828867101 1,541 88,301 SH   SOLE 0 88,301 0 0
Skechers Usa Inc CL A 830566105 813 17,790 SH   SOLE 0 17,790 0 0
Smith & Wesson Hldg Corp COM 831756101 858 59,000 SH   SOLE 0 59,000 0 0
Southwest Bancorp Inc Okla COM 844767103 2,413 141,830 SH   SOLE 0 141,830 0 0
Sterling Bancorp Del COM 85917A100 1,425 119,410 SH   SOLE 0 119,410 0 0
Suffolk Bancorp COM 864739107 1,807 81,000 SH   SOLE 0 81,000 0 0
Tile Shop Hldgs Inc COM 88677Q109 683 44,650 SH   SOLE 0 44,650 0 0
Viewpoint Finl Group Inc MD COM 92672A101 3,243 121,055 SH   SOLE 0 121,055 0 0
Xcerra Corp COM 98400J108 775 85,180 SH   SOLE 0 85,180 0 0