Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
KEY	KEYCORP NEW	1,520,097	$30.66M	2.3%	$20.17	—	—	COM	493267108
LEN/B	LENNAR CORP	580,000	$29.97M	2.3%	$51.68	—	—	CL B	526057302
CMA	COMERICA INC	330,035	$28.65M	2.2%	$86.81	—	—	COM	200340107
ABCB	AMERIS BANCORP	592,663	$28.57M	2.1%	$48.20	—	—	COM	03076K108
BAC	BANK AMER CORP	955,000	$28.19M	2.1%	$29.52	—	—	COM	060505104
ZION	ZIONS BANCORPORATION	550,039	$27.96M	2.1%	$50.83	—	—	COM	989701107
XLF	SELECT SECTOR SPDR TR	1,000,000	$27.91M	2.1%	$27.91	—	—	Put	81369Y605
MS	MORGAN STANLEY	490,000	$25.71M	1.9%	$52.47	—	—	COM NEW	617446448
—	SUNTRUST BKS INC	370,060	$23.9M	1.8%	$64.59	—	—	COM	867914103
RF	REGIONS FINL CORP NEW	1,300,000	$22.46M	1.7%	$17.28	—	—	COM	7591EP100
IBCP	INDEPENDENT BANK CORP MICH	993,365	$22.2M	1.7%	$22.35	—	—	COM NEW	453838609
—	IBERIABANK CORP	275,051	$21.32M	1.6%	$77.50	—	—	COM	450828108
HBAN	HUNTINGTON BANCSHARES INC	1,457,837	$21.23M	1.6%	$14.56	—	—	COM	446150104
—	CENTERSTATE BK CORP	785,113	$20.2M	1.5%	$25.73	—	—	COM	15201P109
—	SYNOVUS FINL CORP	405,065	$19.42M	1.5%	$47.94	—	—	COM NEW	87161C501
ASB	ASSOCIATED BANC CORP	745,038	$18.92M	1.4%	$25.40	—	—	COM	045487105
BANC	BANC OF CALIFORNIA INC	860,141	$17.76M	1.3%	$20.65	—	—	COM	05990K106
UCB	UNITED CMNTY BKS BLAIRSVLE G	628,038	$17.67M	1.3%	$28.14	—	—	COM	90984P303
QCRH	QCR HOLDINGS INC	385,000	$16.5M	1.2%	$42.85	—	—	COM	74727A104
UVSP	UNIVEST CORP PA	575,106	$16.13M	1.2%	$28.05	—	—	COM	915271100
C	CITIGROUP INC	215,000	$16M	1.2%	$74.41	—	—	COM NEW	172967424
—	STERLING BANCORP DEL	650,156	$15.99M	1.2%	$24.60	—	—	COM	85917A100
AMG	AFFILIATED MANAGERS GROUP	77,500	$15.91M	1.2%	$205.25	—	—	COM	008252108
CFR	CULLEN FROST BANKERS INC	153,510	$14.53M	1.1%	$94.65	—	—	COM	229899109
SBNY	SIGNATURE BK NEW YORK N Y	102,536	$14.07M	1.1%	$137.26	—	—	COM	82669G104
GS	GOLDMAN SACHS GROUP INC	54,000	$13.76M	1.0%	$254.76	—	—	COM	38141G104
—	CODORUS VY BANCORP INC	449,462	$12.37M	0.9%	$27.53	—	—	COM	192025104
—	ZIONS BANCORPORATION	832,400	$12.28M	0.9%	$14.75	—	—	*W EXP 11/14/201	989701131
FHN	FIRST HORIZON NATL CORP	581,698	$11.63M	0.9%	$19.99	—	—	COM	320517105
ARCC	ARES CAP CORP	728,100	$11.45M	0.9%	$15.72	—	—	COM	04010L103
FPH	FIVE POINT HOLDINGS LLC	805,950	$11.36M	0.9%	$14.10	—	—	COM CL A	33833Q106
NTB	BANK OF NT BUTTERFIELD&SON L	310,000	$11.25M	0.8%	$36.29	—	—	SHS NEW	G0772R208
SBCF	SEACOAST BKG CORP FLA	440,040	$11.09M	0.8%	$25.21	—	—	COM NEW	811707801
—	SI FINL GROUP INC MD	748,437	$11M	0.8%	$14.70	—	—	COM	78425V104
HOMB	HOME BANCSHARES INC	470,127	$10.93M	0.8%	$23.25	—	—	COM	436893200
PFBC	PREFERRED BK LOS ANGELES CA	185,948	$10.93M	0.8%	$58.78	—	—	COM NEW	740367404
—	EVANS BANCORP INC	260,220	$10.9M	0.8%	$41.90	—	—	COM NEW	29911Q208
—	FIRST BANCSHARES INC MS	318,444	$10.89M	0.8%	$34.20	—	—	COM	318916103
—	UNITED CMNTY FINL CORP OHIO	1,167,159	$10.66M	0.8%	$9.13	—	—	COM	909839102
—	Business First Bankshares Inc.	500,000	$10.46M	0.8%	$20.92	—	—	COM	9B999BFBI
TMHC	TAYLOR MORRISON HOME CORP	425,000	$10.4M	0.8%	$24.47	—	—	CL A	87724P106
EFSC	ENTERPRISE FINL SVCS CORP	230,144	$10.39M	0.8%	$45.15	—	—	COM	293712105
PJT	PJT PARTNERS INC	225,000	$10.26M	0.8%	$45.60	—	—	COM CL A	69343T107
WAL	WESTERN ALLIANCE BANCORP	180,286	$10.21M	0.8%	$56.62	—	—	COM	957638109
COF	CAPITAL ONE FINL CORP	100,000	$9.958M	0.7%	$99.58	—	—	COM	14040H105
MA	MASTERCARD INCORPORATED	62,500	$9.46M	0.7%	$151.36	—	—	CL A	57636Q104
V	VISA INC	82,500	$9.407M	0.7%	$114.02	—	—	COM CL A	92826C839
—	SUN BANCORP INC	378,200	$9.19M	0.7%	$24.30	—	—	COM NEW	86663B201
—	E TRADE FINANCIAL CORP	180,000	$8.923M	0.7%	$49.57	—	—	COM NEW	269246401
—	STERLING BANCORP INC	685,000	$8.7M	0.7%	$12.70	—	—	COM	85917W102
—	COASTWAY BANCORP INC	410,000	$8.692M	0.7%	$21.20	—	—	COM	190632109
—	COMMUNITY BANKERS TR CORP	1,065,147	$8.681M	0.7%	$8.15	—	—	COM	203612106
—	Bay Banks of Virginia, Inc.	869,829	$8.611M	0.6%	$9.90	—	—	COM	072035108
IVZ	INVESCO LTD	235,000	$8.587M	0.6%	$36.54	—	—	SHS	G491BT108
—	CIVISTA BANCSHARES INC	115,700	$8.556M	0.6%	$73.95	—	—	6.50% PFD SER B	178867206
NTRS	NORTHERN TR CORP	85,000	$8.491M	0.6%	$99.89	—	—	COM	665859104
—	MAINSOURCE FINANCIAL GP INC	226,363	$8.219M	0.6%	$36.31	—	—	COM	56062Y102
RBB	RBB BANCORP	295,882	$8.098M	0.6%	$27.37	—	—	COM	74930B105
—	JPMORGAN CHASE & CO	120,000	$7.972M	0.6%	$66.43	—	—	*W EXP 10/28/201	46634E114
—	ESSA BANCORP INC	508,290	$7.965M	0.6%	$15.67	—	—	COM	29667D104
—	INVESTORS BANCORP INC NEW	565,614	$7.851M	0.6%	$13.88	—	—	COM	46146L101
—	LUTHER BURBANK CORP	650,000	$7.826M	0.6%	$12.04	—	—	COM	550550107
—	DISCOVER FINL SVCS	100,300	$7.715M	0.6%	$76.92	—	—	COM	254709108
—	AMERICAN RIVER BANKSHARES	505,354	$7.702M	0.6%	$15.24	—	—	COM	029326105
—	CENTURY BANCORP INC MASS	95,827	$7.498M	0.6%	$78.25	—	—	CL A NON VTG	156432106
—	White River Bancshares Company	113,113	$7.487M	0.6%	$66.19	—	—	COM	9B999WRBC
FITB	FIFTH THIRD BANCORP	245,032	$7.434M	0.6%	$30.34	—	—	COM	316773100
FFBC	FIRST FINL BANCORP OH	280,073	$7.38M	0.6%	$26.35	—	—	COM	320209109
PYPL	PAYPAL HLDGS INC	97,500	$7.178M	0.5%	$73.62	—	—	COM	70450Y103
MOFG	MIDWESTONE FINL GROUP INC NE	205,400	$6.887M	0.5%	$33.53	—	—	COM	598511103
—	POAGE BANKSHARES INC	315,535	$6.626M	0.5%	$21.00	—	—	COM	730206109
—	BRYN MAWR BK CORP	148,900	$6.581M	0.5%	$44.20	—	—	COM	117665109
—	FIRST DEFIANCE FINL CORP	125,000	$6.496M	0.5%	$51.97	—	—	COM	32006W106
HTH	HILLTOP HOLDINGS INC	255,118	$6.462M	0.5%	$25.33	—	—	COM	432748101
—	UNITED FINL BANCORP INC NEW	365,000	$6.439M	0.5%	$17.64	—	—	COM	910304104
BKU	BANKUNITED INC	155,000	$6.312M	0.5%	$40.72	—	—	COM	06652K103
HTB	HOMETRUST BANCSHARES INC	243,804	$6.278M	0.5%	$25.75	—	—	COM	437872104
MRBK	MERIDIAN BK PAOLI PA	310,000	$6.194M	0.5%	$19.98	—	—	COM	58958P104
—	UNITED CMNTY BANCORP IND	296,886	$6.101M	0.5%	$20.55	—	—	COM	90984R101
—	OM ASSET MGMT PLC	360,000	$6.03M	0.5%	$16.75	—	—	SHS	G67506108
—	BOSTON PRIVATE FINL HLDGS IN	383,530	$5.926M	0.4%	$15.45	—	—	COM	101119105
FNF	FIDELITY NATIONAL FINANCIAL	150,000	$5.886M	0.4%	$39.24	—	—	FNF GROUP COM	31620R303
TPH	TRI POINTE GROUP INC	325,000	$5.824M	0.4%	$17.92	—	—	COM	87265H109
HWC	HANCOCK HLDG CO	115,059	$5.695M	0.4%	$49.50	—	—	COM	410120109
STBA	S & T BANCORP INC	142,337	$5.666M	0.4%	$39.81	—	—	COM	783859101
AVBH	Avidbank Holdings, Inc.	254,998	$5.648M	0.4%	$22.15	—	—	COM	05368J103
VLY	VALLEY NATL BANCORP	500,436	$5.615M	0.4%	$11.22	—	—	COM	919794107
MSBI	MIDLAND STS BANCORP INC ILL	170,000	$5.522M	0.4%	$32.48	—	—	COM	597742105
NRIM	NORTHRIM BANCORP INC	163,073	$5.52M	0.4%	$33.85	—	—	COM	666762109
—	LAZARD LTD	105,000	$5.513M	0.4%	$52.50	—	—	SHS A	G54050102
—	Standard AVB Financial Corp.	181,600	$5.463M	0.4%	$30.08	—	—	COM	85303B100
EQBK	EQUITY BANCSHARES INC	152,000	$5.382M	0.4%	$35.41	—	—	COM CL A	29460X109
—	First American International Corp.	168,880	$5.058M	0.4%	$29.95	—	—	COM	31849X107
IROQ	IF BANCORP INC	255,000	$5.014M	0.4%	$19.66	—	—	COM	44951J105
OSBC	OLD SECOND BANCORP INC ILL	365,300	$4.986M	0.4%	$13.65	—	—	COM	680277100
—	BLACK KNIGHT INC	110,000	$4.857M	0.4%	$44.15	—	—	COM	09215C105
EWBC	EAST WEST BANCORP INC	78,100	$4.751M	0.4%	$60.83	—	—	COM	27579R104
—	LEGACY TEX FINL GROUP INC	110,047	$4.645M	0.3%	$42.21	—	—	COM	52471Y106
—	STATE BK FINL CORP	151,800	$4.53M	0.3%	$29.84	—	—	COM	856190103
ALRS	Alerus Financial Corp	218,657	$4.472M	0.3%	$20.45	—	—	COM	01446U103
ISTR	INVESTAR HLDG CORP	185,000	$4.459M	0.3%	$24.10	—	—	COM	46134L105
—	SOUTH ST CORP	50,022	$4.359M	0.3%	$87.14	—	—	COM	840441109
OTTW	OTTAWA BANCORP INC	300,200	$4.335M	0.3%	$14.44	—	—	COM	689195105
—	FNB CORP PA	399,136	$4.299M	0.3%	$10.77	—	—	*W $3.116 EXP 1/30/2019	302520945
CNNE	CANNAE HLDGS INC	250,000	$4.258M	0.3%	$17.03	—	—	COM	13765N107
—	HMN FINL INC	277,778	$4.028M	0.3%	$14.50	—	—	*W $4.68 EXP 12/23/2018	40424G975
PBHC	PATHFINDER BANCORP INC MD	253,961	$3.911M	0.3%	$15.40	—	—	COM	70319R109
—	SANDY SPRING BANCORP INC	100,101	$3.906M	0.3%	$39.02	—	—	COM	800363103
—	EATON VANCE CORP	68,000	$3.835M	0.3%	$56.40	—	—	COM NON VTG	278265103
—	BLACKROCK INC	7,400	$3.801M	0.3%	$513.65	—	—	COM	09247X101
EBMT	EAGLE BANCORP MONT INC	175,000	$3.666M	0.3%	$20.95	—	—	COM	26942G100
QNBC	QNB Corporation	82,522	$3.66M	0.3%	$44.35	—	—	COM	74726N107
FAF	FIRST AMERN FINL CORP	65,000	$3.643M	0.3%	$56.05	—	—	COM	31847R102
—	WASHINGTONFIRST BANKSHARES I	105,285	$3.607M	0.3%	$34.26	—	—	COM	940730104
—	HOWARD BANCORP INC	160,000	$3.52M	0.3%	$22.00	—	—	COM	442496105
CNOB	CONNECTONE BANCORP INC NEW	135,152	$3.48M	0.3%	$25.75	—	—	COM	20786W107
EQFN	EQUITABLE FINL CORP NEW	315,721	$3.441M	0.3%	$10.90	—	—	COM	29448T105
FCCO	FIRST CMNTY CORP S C	152,072	$3.437M	0.3%	$22.60	—	—	COM	319835104
SFNC	SIMMONS 1ST NATL CORP	60,017	$3.427M	0.3%	$57.10	—	—	CL A $1 PAR	828730200
—	DIME CMNTY BANCSHARES	158,727	$3.325M	0.3%	$20.95	—	—	COM	253922108
AMP	AMERIPRISE FINL INC	19,300	$3.271M	0.2%	$169.48	—	—	COM	03076C106
—	AMERICAN NATL BANKSHARES INC	85,000	$3.256M	0.2%	$38.31	—	—	COM	027745108
—	PB BANCORP INC	301,430	$3.24M	0.2%	$10.75	—	—	COM	70454T100
HOPE	HOPE BANCORP INC	176,568	$3.222M	0.2%	$18.25	—	—	COM	43940T109
—	TWO HBRS INVT CORP	191,300	$3.111M	0.2%	$16.26	—	—	COM NEW	90187B408
—	LEGG MASON INC	73,500	$3.086M	0.2%	$41.99	—	—	COM	524901105
—	MB Bancorp, Inc.	188,500	$2.997M	0.2%	$15.90	—	—	COM	55280E104
—	AJS Bancorp, Inc.	199,192	$2.968M	0.2%	$14.90	—	—	COM	001503101
—	COMMUNITY WEST BANCSHARES	272,696	$2.904M	0.2%	$10.65	—	—	COM	204157101
—	CBTX INC	95,000	$2.818M	0.2%	$29.66	—	—	COM	12481V104
ESQ	ESQUIRE FINL HLDGS INC	140,335	$2.77M	0.2%	$19.74	—	—	COM	29667J101
—	Blackhawk Bancorp, Inc.	107,797	$2.624M	0.2%	$24.34	—	—	COM	09237E204
—	MELROSE BANCORP INC	129,132	$2.583M	0.2%	$20.00	—	—	COM	585553100
BOTJ	BANK OF THE ST JAMES FINL GP	167,800	$2.505M	0.2%	$14.93	—	—	COM	470299108
MCBI	Mountain Commerce Bancorp, Inc.	187,500	$2.504M	0.2%	$13.35	—	—	COM	624004107
FSBW	FS BANCORP INC	45,000	$2.456M	0.2%	$54.58	—	—	COM	30263Y104
—	Central Federal Bancshares, Inc.	166,200	$2.385M	0.2%	$14.35	—	—	COM	15346T107
OVLY	OAK VALLEY BANCORP OAKDALE C	120,100	$2.347M	0.2%	$19.54	—	—	COM	671807105
SMBC	SOUTHERN MO BANCORP INC	61,476	$2.311M	0.2%	$37.59	—	—	COM	843380106
—	Pilgrim Bancshares, Inc.	120,800	$2.301M	0.2%	$19.05	—	—	COM	72143J105
—	HMN FINL INC	119,900	$2.29M	0.2%	$19.10	—	—	COM	40424G108
MCHB	HOMESTREET INC	75,400	$2.183M	0.2%	$28.95	—	—	COM	43785V102
FISI	FINANCIAL INSTNS INC	70,000	$2.177M	0.2%	$31.10	—	—	COM	317585404
AMBZ	American Business Bank	55,250	$2.177M	0.2%	$39.40	—	—	COM	02475L105
—	HAMILTON BANCORP INC MD	140,882	$2.17M	0.2%	$15.40	—	—	COM	407015106
CMA	COMERICA INC	25,000	$2.17M	0.2%	$86.80	—	—	Call	200340107
HNNA	HENNESSY ADVISORS INC	130,862	$2.164M	0.2%	$16.54	—	—	COM	425885100
—	Sunshine Financial Inc.	66,000	$1.96M	0.1%	$29.70	—	—	COM	86782T109
—	GUARANTY FED BANCSHARES INC	83,900	$1.884M	0.1%	$22.46	—	—	COM	40108P101
—	HEARTLAND FINL USA INC	35,000	$1.878M	0.1%	$53.66	—	—	COM	42234Q102
GPMT	GRANITE PT MTG TR INC	103,261	$1.832M	0.1%	$17.74	—	—	COM	38741L107
—	SUNSHINE BANCORP INC	77,900	$1.787M	0.1%	$22.94	—	—	COM	86777J108
—	OLD LINE BANCSHARES INC	60,000	$1.766M	0.1%	$29.43	—	—	COM	67984M100
EGBN	EAGLE BANCORP INC MD	30,000	$1.737M	0.1%	$57.90	—	—	COM	268948106
—	SUNTRUST BKS INC	53,402	$1.664M	0.1%	$31.16	—	—	*W EXP 12/31/201	867914129
UBFO	UNITED SECURITY BANCSHARES C	150,000	$1.65M	0.1%	$11.00	—	—	COM	911460103
WNEB	WESTERN NEW ENG BANCORP INC	140,000	$1.526M	0.1%	$10.90	—	—	COM	958892101
CIVB	CIVISTA BANCSHARES INC	69,063	$1.519M	0.1%	$21.99	—	—	COM NO PAR	178867107
—	SB FINL GROUP INC	80,000	$1.432M	0.1%	$17.90	—	—	DEP SHS PFD 6.5%	78408D204
—	CYS INVTS INC	175,000	$1.405M	0.1%	$8.03	—	—	COM	12673A108
—	FIRST MIDWEST BANCORP DEL	58,400	$1.402M	0.1%	$24.01	—	—	COM	320867104
PLBC	PLUMAS BANCORP	60,300	$1.399M	0.1%	$23.20	—	—	COM	729273102
—	JACKSONVILLE BANCORP INC MD	40,869	$1.309M	0.1%	$32.03	—	—	COM	46924R106
—	New Bancorp, Inc.	66,200	$1.278M	0.1%	$19.31	—	—	COM	642142103
HBNC	HORIZON BANCORP IND	45,000	$1.251M	0.1%	$27.80	—	—	COM	440407104
FFBB	Communities First Financial Corporation	60,000	$1.173M	0.1%	$19.55	—	—	COM	20344D104
—	Sunnyside Bancorp, Inc.	64,871	$1.088M	0.1%	$16.77	—	—	COM	867475105
—	Sugar Creek Financial Corporation	78,575	$1.025M	0.1%	$13.04	—	—	COM	86481Y102
—	FGL HLDGS	100,000	$1.007M	0.1%	$10.07	—	—	ORD SHS	G3402M102
—	PNC FINL SVCS GROUP INC	12,700	$987K	0.1%	$77.72	—	—	*W EXP 12/31/201	693475121
—	HOWARD HUGHES CORP	7,500	$985K	0.1%	$131.33	—	—	COM	44267D107
FMNB	FARMERS NATL BANC CORP	62,800	$926K	0.1%	$14.75	—	—	COM	309627107
FIEB	First IC Corporation	83,797	$834K	0.1%	$9.95	—	—	COM	32058J102
BFC	Bank First National Corp.	18,460	$825K	0.1%	$44.69	—	—	COM	06211J100
—	SUMMIT FINANCIAL GROUP INC	27,100	$713K	0.1%	$26.31	—	—	COM	86606G101
—	West End Indiana Bancshares, Inc.	22,800	$659K	0.0%	$28.90	—	—	COM	952678100
WLFC	WILLIS LEASE FINANCE CORP	25,000	$624K	0.0%	$24.96	—	—	COM	970646105
—	TWO RIV BANCORP	34,056	$617K	0.0%	$18.12	—	—	COM	90207C105
BSRR	SIERRA BANCORP	20,000	$531K	0.0%	$26.55	—	—	COM	82620P102
BANF	BANCFIRST CORP	10,000	$512K	0.0%	$51.20	—	—	COM	05945F103
—	PARAGON COML CORP	7,000	$372K	0.0%	$53.14	—	—	COM NEW	69911U403
BMRC	BANK OF MARIN BANCORP	5,000	$340K	0.0%	$68.00	—	—	COM	063425102
—	PINNACLE FINL PARTNERS INC	5,000	$332K	0.0%	$66.40	—	—	COM	72346Q104
—	FFBW INC	30,000	$331K	0.0%	$11.03	—	—	COM	30258M107
—	Best Hometown Bancorp, Inc.	22,500	$264K	0.0%	$11.73	—	—	Not 13-F Security	08652N103
CIZN	CITIZENS HLDG CO MISS	10,041	$232K	0.0%	$23.11	—	—	COM	174715102
—	Cortland Bancorp	6,998	$143K	0.0%	$20.43	—	—	COM	220587109
—	Pioneer Bancshares, Inc.	4,028	$109K	0.0%	$27.06	—	—	COM	72357G102
KRE	SPDR SERIES TRUST	1,735	$102K	0.0%	$58.79	—	—	S&P REGL BKG	78464A698
—	ACCESS NATL CORP	3,200	$89,000	0.0%	$27.81	—	—	COM	004337101
ATLO	AMES NATL CORP	2,946	$82,000	0.0%	$27.83	—	—	COM	031001100
HRGG	Heritage Nola Bancorp, Inc.	4,800	$57,000	0.0%	$11.88	—	—	COM	42727P108
CCNE	CNB FINL CORP PA	800	$21,000	0.0%	$26.25	—	—	COM	126128107
PEBK	PEOPLES BANCORP N C INC	400	$12,000	0.0%	$30.00	—	—	COM	710577107
OCFC	OCEANFIRST FINL CORP	300	$8,000	0.0%	$26.67	—	—	COM	675234108
BOKF	BOK FINL CORP	11	$1,000	0.0%	$90.91	—	—	COM NEW	05561Q201