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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMBAC FINL GROUP INC COM NEW 023139884 BBG004HQHL91 12,500 25,000 SH Call OTR 1,2 0 25,000 0
AMERICAN NATL BANKSHARES INC COM 027745108 BBG001S7NGV6 300,175 10,358 SH   OTR 1,2 0 10,358 0
AMERIS BANCORP COM 03076K108 BBG001S80PX7 503,537 14,719 SH   OTR 1,2 0 14,719 0
APPLE INC COM 037833100 BBG001S5N8V8 664,929 3,428 SH   OTR 1,2 0 3,428 0
ATLANTIC UN BANKSHARES CORP COM 04911A107 BBG001S7GJV8 739,523 28,498 SH   OTR 1,2 0 28,498 0
BANC OF CALIFORNIA INC COM 05990K106 BBG001SKZX56 429,051 37,051 SH   OTR 1,2 0 37,051 0
BANK AMERICA CORP COM 060505104 BBG001S5P0Y0 13,067,994 455,489 SH   OTR 1,2 0 455,489 0
BANK AMERICA CORP COM 060505104 BBG001S5P0Y0 655,625 472,000 SH Call OTR 1,2 0 472,000 0
BANK OF THE JAMES FINL GP IN COM 470299108 BBG001SFGH35 172,809 18,990 SH   OTR 1,2 0 18,990 0
BAYFIRST FINANCIAL CORP COM 07279B104 BBG001SN12G3 743,540 55,077 SH   OTR 1,2 0 55,077 0
BECTON DICKINSON & CO COM 075887109 BBG001S5P374 236,025 894 SH   OTR 1,2 0 894 0
CAPITAL ONE FINL CORP COM 14040H105 BBG001S65PV8 723,154 6,612 SH   OTR 1,2 0 6,612 0
CAPITAL ONE FINL CORP COM 14040H105 BBG001S65PV8 27,900 3,000 SH Call OTR 1,2 0 3,000 0
CB FINL SVCS INC COM 12479G101 BBG001S825Y8 743,606 35,923 SH   OTR 1,2 0 35,923 0
CF BANKSHARES INC COM 12520L109 BBG001S5XSL4 391,980 26,132 SH   OTR 1,2 0 26,132 0
CITIGROUP INC COM NEW 172967424 BBG001S72ZG4 404,613 8,788 SH   OTR 1,2 0 8,788 0
CITIGROUP INC COM NEW 172967424 BBG001S72ZG4 145,400 71,700 SH Call OTR 1,2 0 71,700 0
CITIZENS FINL GROUP INC COM 174610105 BBG006Q0HZT0 448,602 17,201 SH   OTR 1,2 0 17,201 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 BBG001S91FV8 337,908 19,420 SH   OTR 1,2 0 19,420 0
CNO FINL GROUP INC COM 12621E103 BBG001SBR6X3 485,353 20,505 SH   OTR 1,2 0 20,505 0
CODORUS VY BANCORP INC COM 192025104 BBG001S6YVJ7 580,495 29,602 SH   OTR 1,2 0 29,602 0
COLONY BANKCORP INC COM 19623P101 BBG001S98KP7 183,954 19,528 SH   OTR 1,2 0 19,528 0
COLUMBIA BKG SYS INC COM 197236102 BBG001S72GJ3 312,961 15,432 SH   OTR 1,2 0 15,432 0
COMMUNITY FINL CORP MD COM 20368X101 BBG001S5WL76 261,608 9,657 SH   OTR 1,2 0 9,657 0
CONNECTONE BANCORP INC COM 20786W107 BBG001S6YLR0 871,339 52,522 SH   OTR 1,2 0 52,522 0
DEVON ENERGY CORP NEW COM 25179M103 BBG001S63VG4 671,926 13,900 SH   OTR 1,2 0 13,900 0
DIME CMNTY BANCSHARES INC COM 25432X102 BBG001S7NTQ4 420,875 23,873 SH   OTR 1,2 0 23,873 0
EXXON MOBIL CORP COM 30231G102 BBG001S69V32 622,050 5,800 SH   OTR 1,2 0 5,800 0
FB FINL CORP COM 30257X104 BBG00DM434H8 1,924,791 68,620 SH   OTR 1,2 0 68,620 0
FIFTH THIRD BANCORP COM 316773100 BBG001S5R6S2 1,927,824 73,553 SH   OTR 1,2 0 73,553 0
FIFTH THIRD BANCORP COM 316773100 BBG001S5R6S2 65,330 81,300 SH Call OTR 1,2 0 81,300 0
FIRST HORIZON CORPORATION COM 320517105 BBG001SCW8R8 4,879 433 SH   OTR 1,2 0 433 0
FIRST HORIZON CORPORATION COM 320517105 BBG001SCW8R8 32,500 50,000 SH Call OTR 1,2 0 50,000 0
FORD MTR CO DEL COM 345370860 BBG001S5TZ33 174,825 55,500 SH Call OTR 1,2 0 55,500 0
HANCOCK WHITNEY CORPORATION COM 410120109 BBG001S6S985 666,168 17,357 SH   OTR 1,2 0 17,357 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5WZ9 482,851 23,114 SH   OTR 1,2 0 23,114 0
HUNTINGTON BANCSHARES INC COM 446150104 BBG001S5RSZ6 232,137 21,534 SH   OTR 1,2 0 21,534 0
HUNTINGTON BANCSHARES INC COM 446150104 BBG001S5RSZ6 48,356 15,400 SH Call OTR 1,2 0 15,400 0
INDEPENDENT BK CORP MASS COM 453836108 BBG001S5S8F1 346,199 7,778 SH   OTR 1,2 0 7,778 0
JPMORGAN CHASE & CO COM 46625H100 BBG001S8CRC3 1,259,510 8,660 SH   OTR 1,2 0 8,660 0
KEYCORP COM 493267108 BBG001S5SKV6 293,656 31,781 SH   OTR 1,2 0 31,781 0
KEYCORP COM 493267108 BBG001S5SKV6 45,252 99,400 SH Call OTR 1,2 0 99,400 0
KINGSTONE COS INC COM 496719105 BBG001SCHWG4 127,096 108,629 SH   OTR 1,2 0 108,629 0
LAKELAND BANCORP INC COM 511637100 BBG001S93HH8 449,623 33,579 SH   OTR 1,2 0 33,579 0
MADISON SQUARE GRDN SPRT COR CL A 55825T103 BBG007FG0C32 226,224 1,203 SH   OTR 1,2 0 1,203 0
MAINSTREET BANCSHARES INC COM 56064Y100 BBG001SNH4N4 869,736 38,382 SH   OTR 1,2 0 38,382 0
METLIFE INC COM 59156R108 BBG001S5T3R8 601,818 10,646 SH   OTR 1,2 0 10,646 0
METLIFE INC COM 59156R108 BBG001S5T3R8 2,500 10,000 SH Call OTR 1,2 0 10,000 0
MORGAN STANLEY COM NEW 617446448 BBG001S9V5Z3 592,676 6,940 SH   OTR 1,2 0 6,940 0
OLD NATL BANCORP IND COM 680033107 BBG001SD2ZG1 139,400 10,000 SH   OTR 1,2 0 10,000 0
OP BANCORP COM 67109R109 BBG001SP9M85 157,312 18,661 SH   OTR 1,2 0 18,661 0
ORRSTOWN FINL SVCS INC COM 687380105 BBG001S9SXH6 199,160 10,400 SH   OTR 1,2 0 10,400 0
PAYONEER GLOBAL INC *W EXP 06/25/202 70451X112   5,000 10,000 SH   OTR 1,2 0 10,000 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 BBG001SG3CC8 4,219,576 155,819 SH   OTR 1,2 0 155,819 0
PINNACLE FINL PARTNERS INC COM 72346Q104 BBG001SF5953 4,023,412 71,022 SH   OTR 1,2 0 71,022 0
PNC FINL SVCS GROUP INC COM 693475105 BBG001S5V947 2,809,282 22,305 SH   OTR 1,2 0 22,305 0
POPULAR INC COM NEW 733174700 BBG001S5PC01 675,282 11,158 SH   OTR 1,2 0 11,158 0
PREMIER FINANCIAL CORP COM 74052F108 BBG001S7DV08 1,006,953 62,856 SH   OTR 1,2 0 62,856 0
PRIMIS FINANCIAL CORP COM 74167B109 BBG001SPKP12 6,567,036 779,933 SH   OTR 1,2 0 779,933 0
PROVIDENT FINL SVCS INC COM 74386T105 BBG001SKM445 583,501 35,710 SH   OTR 1,2 0 35,710 0
QCR HOLDINGS INC COM 74727A104 BBG001SJTPZ0 256,848 6,260 SH   OTR 1,2 0 6,260 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 BBG001SM4KY2 1,337,925 75,080 SH   OTR 1,2 0 75,080 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 BBG001SM4KY2 660 66,000 SH Call OTR 1,2 0 66,000 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 BBG001S5W0J9 24,618 14,920 SH   OTR 1,2 0 14,920 0
SEACOAST BKG CORP FLA COM NEW 811707801 BBG001SD9X60 6,610,950 299,138 SH   OTR 1,2 0 299,138 0
SHORE BANCSHARES INC COM 825107105 BBG001S9TSK2 621,223 53,739 SH   OTR 1,2 0 53,739 0
SMARTFINANCIAL INC COM NEW 83190L208 BBG001SDRQW6 5,012,311 233,022 SH   OTR 1,2 0 233,022 0
SOUTHSTATE CORPORATION COM 840441109 BBG001S9J7Z3 2,380,841 36,183 SH   OTR 1,2 0 36,183 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 BBG001S72SM3 32,800 40,000 SH Call OTR 1,2 0 40,000 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 BBG001SRFLF8 631,555 41,797 SH   OTR 1,2 0 41,797 0
SYNOVUS FINL CORP COM NEW 87161C501 BBG001S5S3G1 7,582,526 250,662 SH   OTR 1,2 0 250,662 0
THIRD COAST BANCSHARES INC COM 88422P109 BBG009W8YNX3 276,313 17,411 SH   OTR 1,2 0 17,411 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 BBG001S5WTN1 731,247 31,465 SH   OTR 1,2 0 31,465 0
TRAVELERS COMPANIES INC COM 89417E109 BBG001S5R103 208,392 1,200 SH   OTR 1,2 0 1,200 0
TRUIST FINL CORP COM 89832Q109 BBG001S5YYC0 1,157,458 38,137 SH   OTR 1,2 0 38,137 0
TRUIST FINL CORP COM 89832Q109 BBG001S5YYC0 10,445 6,200 SH Call OTR 1,2 0 6,200 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 BBG001S9SSJ5 425,630 17,032 SH   OTR 1,2 0 17,032 0
UNITED SEC BANCSHARES CALIF COM 911460103 BBG001S8S2B2 168,969 25,371 SH   OTR 1,2 0 25,371 0
VIRGINIA NATL BANKSHARES COR COM 928031103 BBG001SBYF92 1,479,125 46,007 SH   OTR 1,2 0 46,007 0
WEBSTER FINL CORP COM 947890109 BBG001S5XCP5 2,074,957 54,966 SH   OTR 1,2 0 54,966 0
WELLS FARGO CO NEW COM 949746101 BBG001S5XF23 5,870,592 137,549 SH   OTR 1,2 0 137,549 0
WELLS FARGO CO NEW COM 949746101 BBG001S5XF23 2,006,100 413,200 SH Call OTR 1,2 0 413,200 0
WSFS FINL CORP COM 929328102 BBG001S5XJX1 866,693 22,977 SH   OTR 1,2 0 22,977 0
ZIONS BANCORPORATION N A COM 989701107 BBG001S5XN80 195,621 7,283 SH   OTR 1,2 0 7,283 0
ZIONS BANCORPORATION N A COM 989701107 BBG001S5XN80 1,360 9,500 SH Call OTR 1,2 0 9,500 0