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
CENTRAL FEDERAL CORP COM 15346Q202 1,869 1,415,949 SH   SOLE   1,415,949 0 0
UNITED COMMUNITY FINANCIAL CORP COM 909839102 5,841 989,997 SH   SOLE   989,997 0 0
TRISTATE CAPITAL HOLDINGS INC COM 89678F100 8,853 632,796 SH   SOLE   632,796 0 0
RIVERVIEW BANCORP INC COM 769397100 2,781 592,901 SH   SOLE   592,901 0 0
ZIONS BANCORPORATION COM 989701107 15,395 563,909 SH   SOLE   563,909 0 0
BNC BANCORP COM 05566T101 14,085 554,972 SH   SOLE   554,972 0 0
FARMERS NATIONAL BANC CORP COM 309627107 4,586 533,308 SH   SOLE   533,308 0 0
CENTERSTATE BANKS INC COM 15201P109 7,972 509,376 SH   SOLE   509,376 0 0
INVESTORS BANCORP INC COM 46146L101 6,310 507,205 SH   SOLE   507,205 0 0
YADKIN FINANCIAL CORP COM 984305102 11,989 476,306 SH   SOLE   476,306 0 0
HERITAGE COMMERCE CORP COM 426927109 5,396 451,173 SH   SOLE   451,173 0 0
GUARANTY BANCORP COM 40075T607 7,219 436,483 SH   SOLE   436,483 0 0
INDEPENDENT BANK CORP COM 453838609 6,423 421,737 SH   SOLE   421,737 0 0
SUNTRUST BANKS INC COM 867914103 17,234 402,297 SH   SOLE   402,297 0 0
OPUS BANK COM 684000102 14,650 396,259 SH   SOLE   396,259 0 0
UNITED SECURITY BANCSHARES COM 911460103 1,988 371,663 SH   SOLE   371,663 0 0
FCB FINANCIAL HOLDINGS INC CL A Security 30255G103 13,056 364,789 SH   SOLE   364,789 0 0
Macatawa Bank Corp COM 554225102 2,176 359,581 SH   SOLE   359,581 0 0
MACKINAC FINANCIAL CORP COM 554571109 3,865 336,335 SH   SOLE   336,335 0 0
1ST CENTURY BANCSHARES INC COM 31943X102 2,310 334,833 SH   SOLE   334,833 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 6,595 329,269 SH   SOLE   329,269 0 0
SHORE BANCSHARES INC COM 825107105 3,218 295,730 SH   SOLE   295,730 0 0
PREFERRED BANK COM 740367404 9,305 281,805 SH   SOLE   281,805 0 0
CARDINAL FINANCIAL CORP COM 14149F109 6,347 278,987 SH   SOLE   278,987 0 0
COMERICA INC WARRANT EXP *W EXP 11/14/201 200340115 3,855 275,151 SH   SOLE   275,151 0 0
PROSPERITY BANCSHARES INC COM 743606105 13,083 273,353 SH   SOLE   273,353 0 0
UNION BANKSHARES CORP COM 90539J109 6,771 268,247 SH   SOLE   268,247 0 0
HANMI FINANCIAL CORP COM 410495204 6,071 255,931 SH   SOLE   255,931 0 0
PULASKI FINANCIAL CORP COM 745548107 3,841 240,630 SH   SOLE   240,630 0 0
EAGLE BANCORP INC COM 268948106 11,626 230,349 SH   SOLE   230,349 0 0
CENTRAL VALLEY COMMUNITY BANCORP COM 155685100 2,619 217,722 SH   SOLE   217,722 0 0
WILSHIRE BANCORP INC COM 97186T108 2,385 206,484 SH   SOLE   206,484 0 0
FIRST BUSINESS FINANCIAL SERVICES INC COM 319390100 4,980 199,126 SH   SOLE   199,126 0 0
PEOPLES BANCORP INC COM 709789101 3,241 172,040 SH   SOLE   172,040 0 0
ENTERPRISE BANCORP INC COM 293668109 3,892 170,322 SH   SOLE   170,322 0 0
PROVIDENT FINANCIAL HOLDINGS INC COM 743868101 3,134 165,929 SH   SOLE   165,929 0 0
DNB FINANCIAL CORP COM 233237106 4,867 164,978 SH   SOLE   164,978 0 0
VERITEX HOLDINGS INC COM 923451108 2,180 134,486 SH   SOLE   134,486 0 0
QCR HOLDINGS INC COM 74727A104 3,168 130,433 SH   SOLE   130,433 0 0
Carolina Bank Holdings Inc COM 143785103 2,134 115,714 SH   SOLE   115,714 0 0
EVANS BANCORP INC COM 29911Q208 2,716 105,587 SH   SOLE   105,587 0 0
Farmers Capital Bank Corp COM 309562106 2,667 98,389 SH   SOLE   98,389 0 0
FIRST DEFIANCE FINANCIAL CORP COM 32006W106 3,316 87,769 SH   SOLE   87,769 0 0
SUFFOLK BANCORP COM 864739107 2,147 75,719 SH   SOLE   75,719 0 0
MUTUALFIRST FINANCIAL INC COM 62845B104 1,189 47,933 SH   SOLE   47,933 0 0
NATIONAL COMMERCE CORP COM 63546L102 1,165 46,493 SH   SOLE   46,493 0 0
Comerica Inc COM 200340107 139 3,325 SH   SOLE   3,325 0 0