Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EFSC	Enterprise Financial Services Corp	1,631,241	$32.18M	2.2%	$12.68	+21.0%	Common	293712105
—	Boston Private Financial Holdings, Inc.	2,228,363	$30.02M	2.1%	$10.68	—	Common	101119105
—	State Bank Financial Corporation	1,432,051	$28.61M	2.0%	$15.15	—	Common	856190103
EGBN	Eagle Bancorp, Inc.	785,226	$27.89M	1.9%	$17.07	+57.6%	Common	268948106
—	CoBiz Financial Inc.	2,079,373	$27.3M	1.9%	$8.36	—	Common	190897108
—	Sandy Spring Bancorp Inc.	1,042,789	$27.2M	1.9%	$22.55	—	Common	800363103
MBWM	Mercantile Bank Corporation	1,208,125	$25.39M	1.8%	$11.49	+14.6%	Common	587376104
—	First Midwest Bancorp, Inc.	1,475,110	$25.24M	1.7%	$13.97	—	Common	320867104
PGC	Peapack-Gladstone Financial Corporation	1,324,019	$24.57M	1.7%	$15.94	+4.3%	Common	704699107
—	First NBC Bank	678,583	$23.89M	1.6%	$26.73	—	Common	32115D106
—	Suffolk Bancorp	1,046,843	$23.77M	1.6%	$16.48	—	Common	864739107
—	CenterState Banks, Inc.	1,956,973	$23.31M	1.6%	$9.65	—	Common	15201P109
—	Fidelity Southern Corporation	1,433,329	$23.09M	1.6%	$12.42	—	Common	316394105
—	MB Financial, Inc.	688,021	$22.61M	1.6%	$26.80	—	Common	55264U108
CPF	Central Pacific Financial Corp.	980,253	$21.07M	1.5%	$11.37	+10.6%	Common	154760409
BANR	Banner Corporation	454,908	$19.57M	1.3%	$21.83	+31.7%	Common	06652V208
BMRC	Bank of Marin Bancorp	366,469	$19.27M	1.3%	$13.89	+28.7%	Common	063425102
—	Park Sterling Corp.	2,518,730	$18.51M	1.3%	$5.91	—	Common	70086Y105
—	Pacific Continental Corporation	1,304,581	$18.5M	1.3%	$11.88	—	Common	69412V108
WTFC	Wintrust Financial Corporation	383,352	$17.93M	1.2%	$36.77	+23.1%	Common	97650W108
—	CU Bancorp	769,102	$16.68M	1.1%	$15.80	—	Common	126534106
—	Cambridge Bancorp	357,026	$16.6M	1.1%	$39.20	—	Common	132152109
FBIZ	First Business Financial Services	337,064	$16.15M	1.1%	$10.96	+54.7%	Common	319390100
FRME	First Merchants Corp.	709,280	$16.14M	1.1%	$11.60	+37.4%	Common	320817109
—	Southwest Bancorp, Inc.	922,007	$16.01M	1.1%	$14.01	—	Common	844767103
—	Capital Bank Financial Corp.	595,524	$15.96M	1.1%	$22.96	—	Common	139794101
—	Lakeland Bancorp, Inc.	1,303,192	$15.25M	1.1%	$11.02	—	Common	511637100
—	Heritage Financial Group	571,677	$14.81M	1.0%	$15.71	—	Common	42726X102
—	Stonegate Bank	491,017	$14.54M	1.0%	$17.86	—	Common	861811107
HTBK	Heritage Commerce Corp	1,568,091	$13.85M	1.0%	$6.76	+26.5%	Common	426927109
AMH	American Homes 4 Rent	797,800	$13.59M	0.9%	$17.76	—	Common	02665T306
OSBC	Old Second Bancorp, Inc.	2,475,284	$13.29M	0.9%	$4.40	+1.1%	Common	680277100
—	Heritage Oaks Bancorp	1,573,478	$13.2M	0.9%	$6.17	—	Common	42724R107
—	Union Bankshares Corporation	545,351	$13.13M	0.9%	$25.42	—	Common	90539J109
—	BSB Bancorp, Inc.	692,095	$12.89M	0.9%	$14.39	—	Common	05573H108
HFWA	Heritage Financial Corporation	710,212	$12.46M	0.9%	$14.79	+16.1%	Common	42722X106
NBHC	National Bank Holdings Corporation	639,700	$12.42M	0.9%	$14.46	+6.0%	Common	633707104
—	TriState Capital Holdings, Inc.	1,161,858	$11.9M	0.8%	$11.35	—	Common	89678F100
—	Bank Kentucky Financial	239,712	$11.57M	0.8%	$31.96	—	Common	062896105
SF	Stifel Financial Corp.	221,096	$11.28M	0.8%	$20.11	+39.8%	Common	860630102
—	Codorus Valley Bancorp, Inc.	544,183	$10.7M	0.7%	$19.06	—	Common	192025104
—	Old Line Bancshares, Inc.	671,496	$10.62M	0.7%	$13.27	—	Common	67984M100
SYBT	Stock Yards Bancorp, Inc.	315,023	$10.5M	0.7%	$19.95	+7.0%	Common	861025104
—	Metro Bancorp Inc.	395,856	$10.26M	0.7%	$20.03	—	Common	59161R101
WTBFB	W.T.B. Financial Corporation	50,298	$10.06M	0.7%	$149.88	+18.0%	Common	929334209
SFST	Southern First Bancshares, Inc.	564,904	$9.615M	0.7%	$12.29	+25.3%	Common	842873101
SBCF	Seacoast Banking Corporation of Florida	694,029	$9.543M	0.7%	$11.18	+13.3%	Common	811707801
WSBF	Waterstone Financial, Inc.	723,107	$9.509M	0.7%	$10.53	+16.3%	Common	94188P101
—	Georgia-Carolina Bancshares, Inc.	354,194	$8.6M	0.6%	$16.13	—	Common	373145101
BSRR	Sierra Bancorp	483,735	$8.494M	0.6%	$9.06	+28.1%	Common	82620P102
—	Bridge Capital Holdings	376,509	$8.426M	0.6%	$15.89	—	Common	108030107
—	Central Valley Community Bancorp	760,318	$8.424M	0.6%	$10.09	—	Common	155685100
—	Valley Financial Corporation	422,530	$8.37M	0.6%	$11.91	—	Common	919629105
FCNCA	First Citizens BancShares, Inc.	33,008	$8.344M	0.6%	$233.09	0.0%	Common	31946M103
FBNC	First Bancorp	428,874	$7.921M	0.5%	$12.23	+14.7%	Common	318910106
QCRH	QCR Holdings, Inc.	435,435	$7.777M	0.5%	$14.97	+12.7%	Common	74727A104
—	First Security Group, Inc.	3,265,000	$7.379M	0.5%	$2.15	—	Common	336312202
—	Hudson Valley Holding Corp.	267,609	$7.268M	0.5%	$18.10	—	Common	444172100
—	Southern National Bancorp of Virginia,Inc.	637,087	$7.225M	0.5%	$9.78	—	Common	843395104
—	1st Enterprise Bank	274,731	$7.146M	0.5%	$24.99	—	Common	32008C108
AMBZ	American Business Bank	238,146	$6.611M	0.5%	$24.16	+12.1%	Common	02475L105
—	First Bancshares, Inc.	448,467	$6.507M	0.4%	$14.19	—	Common	318916103
—	NorthWest Indiana Bancorp	243,951	$6.465M	0.4%	$23.62	—	Common	667516108
—	FNB Bancorp	232,839	$6.461M	0.4%	$21.77	—	Common	302515101
—	Mackinac Financial Corporation	516,707	$6.123M	0.4%	$9.15	—	Common	554571109
—	1st Constitution Bancorp	549,708	$5.986M	0.4%	$9.65	—	Common	31986N102
—	First of Long Island Corp.	209,543	$5.945M	0.4%	$31.68	—	Common	320734106
—	Security California Bancorp	492,955	$5.728M	0.4%	$10.70	—	Common	81412M103
—	Bay Commercial Bank	449,715	$5.352M	0.4%	$9.88	—	Common	072199102
—	ViewPoint Financial Group, Inc.	219,072	$5.225M	0.4%	$21.55	—	Common	92672A101
—	Community Financial Corporation	259,773	$5.214M	0.4%	$20.65	—	Common	20368X101
WTBA	West Bancorporation, Inc.	305,578	$5.201M	0.4%	$11.55	+37.7%	Common	95123P106
SAMG	Silvercrest Asset Management Group Inc.	331,658	$5.19M	0.4%	$14.83	-2.1%	Common	828359109
UNTY	Unity Bancorp, Inc.	546,130	$5.15M	0.4%	$5.92	+21.5%	Common	913290102
AVBH	Avidbank Holdings, Inc.	417,179	$5.027M	0.3%	$10.58	+10.7%	Common	05368J103
—	Community Bankers Trust Corporation	1,129,845	$4.994M	0.3%	$4.04	—	Common	203612106
—	Aspen Insurance Holdings Limited	111,712	$4.89M	0.3%	$39.70	—	Common	G05384105
—	Bryn Mawr Bank Corporation	154,952	$4.85M	0.3%	$23.93	—	Common	117665109
—	Chemical Financial Corp.	156,345	$4.79M	0.3%	$27.74	—	Common	163731102
—	Charter Financial Corporation	416,395	$4.768M	0.3%	$10.46	—	Common	16122W108
NODB	North Dallas Bank & Trust Co.	80,187	$4.705M	0.3%	$47.53	—	Common	659012108
—	Yadkin Financial Corporation	237,561	$4.668M	0.3%	$14.04	—	Common	984305102
—	Palmetto Bancshares, Inc.	279,343	$4.665M	0.3%	$13.00	—	Common	697062206
RVSB	Riverview Bancorp, Inc.	1,035,564	$4.639M	0.3%	$1.91	+66.7%	Common	769397100
CNOB	ConnectOne Bancorp, Inc.	244,000	$4.636M	0.3%	$15.12	-3.3%	Common	20786W107
HTH	Hilltop Holdings Inc.	227,532	$4.539M	0.3%	$15.00	+37.0%	Common	432748101
ONB	Old National Bancorp	304,121	$4.525M	0.3%	$13.50	+3.8%	Common	680033107
FCCO	First Community Corporation	398,019	$4.502M	0.3%	$7.47	+10.2%	Common	319835104
—	United Financial Bancorp, Inc.	312,235	$4.484M	0.3%	$13.44	—	Common	910304104
OVLY	Oak Valley Bancorp	435,753	$4.427M	0.3%	$8.19	+23.5%	Common	671807105
—	DCB Financial Corp	630,941	$4.417M	0.3%	$5.69	—	Common	233075100
SHBI	Shore Bancshares, Inc.	468,620	$4.377M	0.3%	$9.33	-1.0%	Common	825107105
—	Greater Sacramento Bancorp	199,116	$4.281M	0.3%	$15.87	—	Common	39233Q109
ACIC	United Insurance Holdings Corp.	193,369	$4.244M	0.3%	$10.63	+33.6%	Common	910710102
OBT	Orange County Bancorp	94,843	$4.126M	0.3%	$9.91	+4.4%	Common	68417L107
HIFS	Hingham Institution for Savings	46,266	$4.026M	0.3%	$58.20	+25.8%	Common	433323102
—	MainSource Financial Group, Inc.	190,938	$3.994M	0.3%	$13.89	—	Common	56062Y102
SFBS	ServisFirst Bancshares, Inc.	120,600	$3.974M	0.3%	$12.46	+4.2%	Common	81768T108
—	California Bank of Commerce	332,186	$3.97M	0.3%	$10.80	—	Common	13005C101
—	Iberiabank Corp	61,004	$3.956M	0.3%	$53.61	—	Common	450828108
—	San Diego Private Bank	274,189	$3.866M	0.3%	$12.45	—	Common	79744Y100
—	First Virginia Community Bank	240,000	$3.72M	0.3%	$14.25	—	Common	337480107
—	Square 1 Financial, Inc.	150,000	$3.705M	0.3%	$19.01	—	Common	85223W101
—	Southeastern Bank Financial Corporation	141,453	$3.678M	0.3%	$19.82	—	Common	841584105
—	Enterprise Bancorp, Inc.	143,461	$3.622M	0.2%	$18.49	—	Common	293668109
—	Capital Pacific Bancorp	230,637	$3.621M	0.2%	$10.98	—	Common	14042V102
BWFG	Bankwell Financial Group, Inc.	171,300	$3.597M	0.2%	$15.80	-2.0%	Common	06654A103
—	MBT Financial Corp.	713,186	$3.559M	0.2%	$4.93	—	Common	578877102
—	Northeast Community Bancorp, Inc.	489,307	$3.533M	0.2%	$6.46	—	Common	664112109
OCFC	OceanFirst Financial Corp.	203,566	$3.489M	0.2%	$9.70	+14.3%	Common	675234108
ISTR	Investar Holding	250,000	$3.463M	0.2%	$14.00	-2.7%	Common	46134L105
BHB	Bar Harbor Bankshares	108,008	$3.456M	0.2%	$10.17	+32.2%	Common	066849100
—	SVB Financial Group	29,600	$3.436M	0.2%	$83.31	—	Common	78486Q101
—	Valley Commerce Bancorp	224,719	$3.427M	0.2%	$12.86	—	Common	919518100
PEBO	Peoples Bancorp Inc.	132,000	$3.423M	0.2%	$24.42	+1.9%	Common	709789101
—	Westfield Financial Inc.	465,393	$3.416M	0.2%	$7.43	—	Common	96008P104
IBCP	Independent Bank Corporation	258,900	$3.379M	0.2%	$5.76	+45.9%	Common	453838609
—	John Marshall Bank	190,000	$3.363M	0.2%	$18.25	—	Common	47804G103
—	Fauquier Bancshares, Inc.	182,128	$3.36M	0.2%	$12.37	—	Common	312059108
—	Century Bancorp, Inc.	83,688	$3.353M	0.2%	$34.44	—	Common	156432106
VABK	Virginia National Bankshares Corp.	146,909	$3.335M	0.2%	$17.96	+22.6%	Common	928031103
FMNB	Farmers National Banc Corp.	377,850	$3.155M	0.2%	$4.33	+30.3%	Common	309627107
FXNC	First National Corporation	364,474	$3.153M	0.2%	$5.09	+27.6%	Common	32106V107
—	MainStreet Bank	353,726	$3.148M	0.2%	$8.74	—	Common	56064A102
—	FCB Financial Holdings, Inc.	126,400	$3.114M	0.2%	$22.71	—	Common	30255G103
—	Cardinal Financial Corporation	155,030	$3.074M	0.2%	$15.14	—	Common	14149F109
—	Guaranty Federal Bancshares, Inc.	225,000	$2.963M	0.2%	$12.76	—	Common	40108P101
BANC	Banc of California, Inc.	258,204	$2.962M	0.2%	$9.14	-6.1%	Common	05990K106
PSBQ	PSB Holdings, Inc.	83,079	$2.949M	0.2%	$9.64	+21.7%	Common	69360N108
—	River Valley Bancorp	137,500	$2.91M	0.2%	$21.44	—	Common	768475105
UVSP	Univest Corporation of Pennsylvania	141,947	$2.873M	0.2%	$18.34	+8.2%	Common	915271100
—	First Community Financial Partners, Inc.	548,982	$2.855M	0.2%	$4.54	—	Common	31985Q106
—	Veritex Holdings, Inc.	201,250	$2.852M	0.2%	$14.17	—	Common	923451108
AUBN	Auburn National Bancorporation, Inc.	119,326	$2.821M	0.2%	$14.50	+10.9%	Common	050473107
—	Talmer Bancorp, Inc.	200,000	$2.808M	0.2%	$14.64	—	Common	87482X101
GNW	Genworth Financial, Inc.	319,822	$2.718M	0.2%	$16.23	-35.3%	Common	37247D106
ORRF	Orrstown Financial Services, Inc	153,979	$2.618M	0.2%	$11.18	+8.5%	Common	687380105
—	CommerceWest Bank	199,822	$2.608M	0.2%	$12.44	—	Common	20084T103
PKBK	Parke Bancorp, Inc.	224,972	$2.598M	0.2%	$4.28	+52.3%	Common	700885106
—	Chicopee Bancorp, Inc.	153,730	$2.575M	0.2%	$16.88	—	Common	168565109
TFIN	Triumph Bancorp, Inc.	188,000	$2.547M	0.2%	$13.63	0.0%	Common	89679E300
—	Carter Bank & Trust	198,686	$2.523M	0.2%	$11.99	—	Common	146102108
FRBKQ	Republic First Bancorp, Inc.	670,900	$2.516M	0.2%	$2.90	+34.0%	Common	760416107
—	Baylake Corp.	199,600	$2.493M	0.2%	$10.84	—	Common	072788102
—	Monarch Community Bancorp Inc.	850,000	$2.491M	0.2%	$2.70	—	Common	609045208
BFC	Bank First National Corporation	109,252	$2.475M	0.2%	$16.31	+7.0%	Common	06211J100
FRBA	First Bank	394,000	$2.459M	0.2%	$5.37	-1.0%	Common	31931U102
—	First Security, Inc.	83,942	$2.413M	0.2%	$28.50	—	Common	336327101
—	Green Bancorp, Inc.	200,000	$2.408M	0.2%	$12.04	—	Common	39260X100
CBKM	Consumers Bancorp, Inc.	136,792	$2.387M	0.2%	$13.41	-6.3%	Common	210509105
—	Blackhawk Bancorp, Inc.	153,244	$2.337M	0.2%	$9.33	—	Common	09237E204
—	Access National Corporation	137,764	$2.331M	0.2%	$13.05	—	Common	004337101
—	Premier Commercial Bancorp	483,998	$2.275M	0.2%	$4.40	—	Common	74048M100
—	National General Holdings Corporation	120,000	$2.233M	0.2%	$14.00	—	Common	636220303
—	Xenith Bankshares, Inc.	341,159	$2.183M	0.2%	$6.10	—	Common	98410X105
—	Bank of Commerce Holdings	365,851	$2.18M	0.2%	$5.09	—	Common	06424J103
—	Ameriana Bancorp	117,283	$2.17M	0.1%	$14.08	—	Common	023613102
—	American Riviera Bank	227,887	$2.158M	0.1%	$9.80	—	Common	02932A106
—	Presidio Bank	172,676	$2.158M	0.1%	$11.94	—	Common	74101A100
PEBK	Peoples Bancorp of North Carolina, Inc.	118,130	$2.125M	0.1%	$11.61	+38.1%	Common	710577107
QNBC	QNB Corp.	74,487	$2.123M	0.1%	$24.55	+12.8%	Common	74726N107
UCB	United Community Banks, Inc.	111,604	$2.114M	0.1%	$16.74	+5.3%	Common	90984P303
DHIL	Diamond Hill Investment Group, Inc.	15,288	$2.11M	0.1%	$41.91	+71.0%	Common	25264R207
TCBK	TriCo Bancshares	85,118	$2.102M	0.1%	$21.62	+13.6%	Common	896095106
FNLC	The First Bancorp, Inc.	115,000	$2.08M	0.1%	$9.14	+13.5%	Common	31866P102
—	Bank of Southern California, N. A.	320,000	$2.08M	0.1%	$6.50	—	Common	065104101
ABCB	Ameris Bancorp	80,551	$2.065M	0.1%	$13.28	+62.5%	Common	03076K108
—	Clifton Bancorp Inc.	148,332	$2.016M	0.1%	$11.72	—	Common	186873105
—	Bridge Bancorp Inc.	75,024	$2.007M	0.1%	$24.92	—	Common	108035106
COLB	Columbia Banking System, Inc.	72,561	$2.003M	0.1%	$16.65	0.0%	Common	197236102
—	HopFed Bancorp, Inc.	157,300	$2.001M	0.1%	$10.80	—	Common	439734104
—	WashingtonFirst Bankshares, Inc.	125,299	$1.896M	0.1%	$13.42	—	Common	940730104
—	Carolina Trust Bank	371,214	$1.875M	0.1%	$3.48	—	Common	144200102
—	Puget Sound Bank	122,858	$1.837M	0.1%	$13.37	—	Common	74531Y108
—	Sussex Bancorp	178,488	$1.821M	0.1%	$10.00	—	Common	869245100
EFSI	Eagle Financial Services Inc.	77,386	$1.803M	0.1%	$15.05	+4.1%	Common	26951R104
—	Southcoast Financial Corporation	255,080	$1.798M	0.1%	$6.16	—	Common	84129R100
—	Federated National Holding Company	74,000	$1.788M	0.1%	$21.62	—	Common	31422T101
CZFS	Citizens Financial Services	32,847	$1.762M	0.1%	$34.74	+3.1%	Common	174615104
FNRN	First Northern Community Bancorp	221,695	$1.756M	0.1%	$5.51	+7.1%	Common	335925103
—	Guaranty Bancorp	120,942	$1.746M	0.1%	$11.35	—	Common	40075T607
TRVR	Two Rivers Financial Group, Inc.	72,487	$1.74M	0.1%	$16.71	+11.2%	Common	90206L106
FGFH	Foresight Financial Group, Inc.	82,848	$1.74M	0.1%	$15.98	+6.2%	Common	345526107
WASH	Washington Trust Bancorp, Inc.	42,575	$1.711M	0.1%	$19.97	+6.8%	Common	940610108
JRVR	James River Group Holdings, Ltd.	75,000	$1.707M	0.1%	$22.03	0.0%	Common	G5005R107
QNTO	Quaint Oak Bancorp	86,500	$1.687M	0.1%	$8.01	+12.7%	Common	74732T106
—	Lake Shore Bancorp	123,154	$1.67M	0.1%	$11.77	—	Common	510700107
—	1st Capital Bank	144,382	$1.64M	0.1%	$11.42	—	Common	31944C107
WBBW	Westbury Bancorp, Inc.	99,800	$1.637M	0.1%	$14.58	+4.5%	Common	95727P106
—	Malvern Bancorp, Inc.	135,319	$1.636M	0.1%	$11.71	—	Common	561409103
—	Northwest Bancorporation, Inc.	187,951	$1.626M	0.1%	$7.66	—	Common	667337109
FISI	Financial Institutions, Inc.	64,485	$1.622M	0.1%	$13.96	+10.4%	Common	317585404
—	Mechanics Bank	60	$1.56M	0.1%	$26000.00	—	Common	583614102
—	Flagstar Bancorp, Inc.	98,900	$1.556M	0.1%	$17.10	—	Common	337930705
CSHX	Cashmere Valley Bank	43,892	$1.547M	0.1%	$23.88	+2.8%	Common	14756K102
—	SBM Financial - Maine	18,000	$1.538M	0.1%	$86.50	—	Common	78404H100
—	Illini Corporation	35,432	$1.534M	0.1%	$42.68	—	Common	45177K206
LFGP	Ledyard Financial Group, Inc.	33,020	$1.527M	0.1%	$14.06	+12.8%	Common	523338101
—	PrivateBancorp, Inc.	45,500	$1.52M	0.1%	$30.12	—	Common	742962103
—	First Defiance Financial Corp.	44,463	$1.514M	0.1%	$22.60	—	Common	32006W106
—	Independent Bank Group, Inc	38,500	$1.504M	0.1%	$30.40	—	Common	45384B106
—	Community Southern Holdings, Inc.	180,189	$1.499M	0.1%	$8.23	—	Common	20405E108
—	People's Bank of Commerce	149,600	$1.46M	0.1%	$9.70	—	Common	710311101
—	Community Bank of Santa Maria	183,681	$1.435M	0.1%	$7.35	—	Common	203598107
—	ESSA Bancorp, Inc.	116,286	$1.395M	0.1%	$10.96	—	Common	29667D104
—	Eastern Virginia Bankshares, Inc.	215,078	$1.392M	0.1%	$5.00	—	Common	277196101
—	Royal Financial, Inc.	179,182	$1.371M	0.1%	$5.28	—	Common	78027P109
—	SouthCrest Financial Group, Inc.	251,400	$1.36M	0.1%	$5.41	—	Common	84129X107
—	Independent Alliance Banks, Inc.	54,013	$1.35M	0.1%	$23.67	—	Common	45380E104
BKOR	Oak Ridge Financial Services, Inc.	171,889	$1.349M	0.1%	$6.78	—	Common	671768109
—	NI Bancshares Corporation	35,201	$1.346M	0.1%	$39.00	—	Common	62913U109
—	SBT Bancorp, Inc.	58,935	$1.326M	0.1%	$28.13	—	Common	78391C106
—	Cornerstone Bancshares, Inc.	389,406	$1.289M	0.1%	$2.01	—	Common	218924108
—	Heritage Bankshares, Inc.	85,890	$1.289M	0.1%	$13.57	—	Common	42721M101
—	American River Bankshares	135,258	$1.274M	0.1%	$8.25	—	Common	029326105
FCOB	1st Colonial Bancorp	194,580	$1.265M	0.1%	$5.23	+6.8%	Common	319716106
MFGI	Merchants Financial Group, Inc.	30,881	$1.235M	0.1%	$8.54	+16.1%	Common	588538108
—	West Suburban Bancorp, Inc.	3,153	$1.23M	0.1%	$334.00	—	Common	956152409
TCBI	Texas Capital Bancshares, Inc.	21,936	$1.192M	0.1%	$43.11	+31.5%	Common	88224Q107
—	Select Bancorp, Inc.	160,767	$1.185M	0.1%	$6.62	—	Common	81617L108
—	HomeTown Bankshares Corporation	171,618	$1.184M	0.1%	$6.25	—	Common	43787N108
—	Peoples Federal Bancshares, Inc.	50,980	$1.149M	0.1%	$20.01	—	Common	711037101
—	Cordia Bancorp Inc.	296,741	$1.142M	0.1%	$3.68	—	Common	218513109
LKFN	Lakeland Financial Corporation	26,092	$1.134M	0.1%	$13.19	+53.2%	Common	511656100
HFBL	Home Federal Bancorp, Inc. of Louisiana	57,425	$1.122M	0.1%	$8.63	+13.3%	Common	43708L108
SOMC	Southern Michigan Bancorp Inc.	52,630	$1.108M	0.1%	$6.72	+11.4%	Common	84336P103
—	DNB Financial Corporation	51,292	$1.108M	0.1%	$17.76	—	Common	233237106
—	BankFinancial Corporation	93,376	$1.107M	0.1%	$10.89	—	Common	06643P104
—	Bank of Santa Clarita	119,816	$1.096M	0.1%	$9.16	—	Common	06424K100
—	Idaho Independent Bank	156,210	$1.093M	0.1%	$7.07	—	Common	45129P105
—	Midsouth Bancorp, Inc.	61,622	$1.069M	0.1%	$15.53	—	Common	598039105
—	Northway Financial, Inc.	51,259	$1.048M	0.1%	$19.61	—	Common	667270201
—	Aquesta Financial Holdings, Inc.	116,218	$967K	0.1%	$8.55	—	Common	03842L109
PGNN	Paragon Financial Solutions, Inc.	153,812	$961K	0.1%	$6.02	+3.2%	Common	69912S100
AMFC	AMB Financial Corp.	93,750	$891K	0.1%	$8.50	0.0%	Common	001984103
MBCN	Middlefield Banc Corp.	25,963	$873K	0.1%	$9.86	+21.7%	Common	596304204
—	Community National Bank	42,331	$868K	0.1%	$20.51	—	Common	20375W104
GLBZ	Glen Burnie Bancorp	70,849	$847K	0.1%	$7.75	+6.4%	Common	377407101
—	First Capital Bancorp, Inc.	191,514	$843K	0.1%	$4.06	—	Common	319438107
—	First America Holdings Corporation	106,250	$829K	0.1%	$5.00	—	Common	318476108
RCBC	River City Bank	6,852	$822K	0.1%	$9.85	+19.2%	Common	76803X106
—	PSB Holdings	105,486	$821K	0.1%	$5.61	—	Common	69360W108
—	Fentura Financial, Inc.	82,801	$820K	0.1%	$10.22	—	Common	314645102
—	North State Bancorp	110,478	$779K	0.1%	$5.58	—	Common	662585108
PFBC	Preferred Bank	27,600	$770K	0.1%	$16.93	+50.4%	Common	740367404
CYFL	Century Financial Corporation	57,512	$722K	0.0%	$8.84	+0.1%	Common	15652L102
PBNK	Pinnacle Bank	93,240	$690K	0.0%	$5.91	+11.7%	Common	72346K107
—	Town and Country Financial Corporation	57,014	$682K	0.0%	$10.34	—	Common	892039108
—	Lighthouse Bank	42,179	$681K	0.0%	$11.70	—	Common	53223T106
—	Salisbury Bancorp, Inc.	24,606	$673K	0.0%	$26.07	—	Common	795226109
VLY	Valley National Bancorp, Inc.	68,451	$665K	0.0%	$9.69	0.0%	Common	919794107
—	Jacksonville Bancorp, Inc.	53,850	$661K	0.0%	$12.61	—	Common	469249205
—	Fox Chase Bancorp, Inc.	38,429	$641K	0.0%	$16.99	—	Common	35137T108
—	Atlantic Coast Financial Corporation	160,600	$638K	0.0%	$4.33	—	Common	048426100
CBOE	CBOE Holdings	10,000	$634K	0.0%	$33.33	+55.0%	Common	12503M108
INDB	Independent Bank Corp.	14,793	$633K	0.0%	$26.21	+10.5%	Common	453836108
—	Coastal Banking Co., Inc.	67,096	$621K	0.0%	$8.31	—	Common	19041N100
SSBI	Summit State Bank	43,000	$597K	0.0%	$4.89	+41.6%	Common	866264203
MVLY	Mission Valley Bancorp	95,299	$581K	0.0%	$5.77	-2.5%	Common	60520E104
—	Franklin Financial Network, Inc.	33,500	$580K	0.0%	$17.31	—	Common	35352P104
—	Commerce Union Bancshares, Inc.	39,600	$515K	0.0%	$13.01	—	Common	200828101
CCBG	Capital City Bank Group, Inc.	32,400	$503K	0.0%	$10.54	+13.6%	Common	139674105
CCNE	CNB Financial Corporation	26,567	$491K	0.0%	$11.22	+13.0%	Common	126128107
—	Sun Bancorp, Inc.	24,380	$473K	0.0%	$4.01	—	Common	86663B102
IROQ	IF Bancorp, Inc.	27,886	$472K	0.0%	$16.83	0.0%	Common	44951J105
EMYB	Embassy Bancorp, Inc.	45,000	$464K	0.0%	$6.66	+16.6%	Common	290791102
—	First Financial Service Corporation	115,338	$450K	0.0%	$3.39	—	Common	32022D108
—	First Financial Northwest, Inc.	28,200	$340K	0.0%	$10.89	—	Common	32022K102
—	Focus Business Bank	35,629	$331K	0.0%	$9.40	—	Common	34415X105
—	Old Point Financial Corporation	21,927	$329K	0.0%	$13.10	—	Common	680194107
BAOB	Baraboo Bancorporation, Inc.	171,937	$327K	0.0%	$1.26	+27.5%	Common	067021105
SBNC	Southern BancShares (N.C.), Inc.	179	$299K	0.0%	$1690.28	0.0%	Common	842243107
—	Kearny Financial Corp.	20,200	$278K	0.0%	$10.50	—	Common	487169104
—	First Busey Corporation	40,000	$260K	0.0%	$6.16	—	Common	319383105
—	Macatawa Bank Corporation	46,524	$253K	0.0%	$5.44	—	Common	554225102
CCFN	CCFNB Bancorp Inc.	6,000	$231K	0.0%	$21.81	+9.8%	Common	124880105
—	Centerpointe Community Bank	31,200	$218K	0.0%	$6.96	—	Common	15200G100
—	Carolina Bank Holdings, Inc.	22,500	$217K	0.0%	$10.27	—	Common	143785103
—	AJS Bancorp, Inc.	14,500	$197K	0.0%	$13.59	—	Common	001503101
—	HMN Financial	15,000	$186K	0.0%	$9.87	—	Common	40424G108
—	Bank of Napa, N.A.	21,500	$183K	0.0%	$8.28	—	Common	063770101
—	Cornerstone Financial	93,071	$159K	0.0%	$2.51	—	Common	21925G102
—	Beneficial Mutual Bancorp, Inc.	12,103	$149K	0.0%	$8.54	—	Common	08173R104
—	Howard Bancorp, Inc.	12,687	$145K	0.0%	$11.32	—	Common	442496105
—	Bancorp of New Jersey, Inc.	10,000	$114K	0.0%	$11.30	—	Common	059915108
ORPB	Oregon Pacific Bancorp	21,659	$62,000	0.0%	$3.45	-17.4%	Common	686040205
—	CBOE Holdings - Put short position	100	$1,000	0.0%	—	—	Put	12503M958