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
1ST CENTURY BANCSHARES INC COM 31943X102 126 15,992 SH   OTR 1 2 0 15,992 0
ABBOTT LABS COM 002824100 141 19,600 SH Call OTR 1 2 0 19,600 0
ACE LTD SHS H0023R105 103 996 SH   OTR 1 2 0 996 0
ACE LTD SHS H0023R105 52 18,700 SH Call OTR 1 2 0 18,700 0
ALCOA INC COM 013817101 14 10,000 SH Call OTR 1 2 0 10,000 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 286 7,500 SH   OTR 1 2 0 7,500 0
ALLSTATE CORP COM 020002101 443 7,600 SH   OTR 1 2 0 7,600 0
ALLSTATE CORP COM 020002101 89 22,100 SH Call OTR 1 2 0 22,100 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 10 442 SH   OTR 1 2 0 442 0
AMERICAN INTL GROUP INC COM NEW 026874784 427 7,520 SH   OTR 1 2 0 7,520 0
AMERICAN INTL GROUP INC COM NEW 026874784 380 33,500 SH Call OTR 1 2 0 33,500 0
AMERIS BANCORP COM 03076K108 207 7,209 SH   OTR 1 2 0 7,209 0
ARBOR RLTY TR INC COM 038923108 1,297 203,853 SH   OTR 1 2 0 203,853 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 232 4,092 SH   OTR 1 2 0 4,092 0
AT&T INC COM 00206R102 563 17,295 SH   OTR 1 2 0 17,295 0
AVENUE FINL HLDGS INC COM 05358K102 990 75,000 SH   OTR 1 2 0 75,000 0
BANK AMER CORP *W EXP 01/16/201 060505146 506 88,241 SH   OTR 1 2 0 88,241 0
BANK AMER CORP COM 060505104 6,191 397,408 SH   OTR 1 2 0 397,408 0
BANK AMER CORP COM 060505104 930 231,100 SH Call OTR 1 2 0 231,100 0
BANK NEW YORK MELLON CORP COM 064058100 296 45,000 SH Call OTR 1 2 0 45,000 0
BANK NEW YORK MELLON CORP COM 064058100 78 2,000 SH   OTR 1 2 0 2,000 0
BAY BANCORP INC COM 07203T106 121 23,698 SH   OTR 1 2 0 23,698 0
BB&T CORP COM 054937107 2,713 76,206 SH   OTR 1 2 0 76,206 0
BBCN BANCORP INC COM 073295107 300 19,981 SH   OTR 1 2 0 19,981 0
BECTON DICKINSON & CO COM 075887109 265 2,000 SH   OTR 1 2 0 2,000 0
BENEFICIAL BANCORP INC COM 08171T102 823 62,072 SH   OTR 1 2 0 62,072 0
BIOSCRIP INC COM 09069N108 28 14,802 SH   OTR 1 2 0 14,802 0
BRISTOL MYERS SQUIBB CO COM 110122108 165 2,794 SH   OTR 1 2 0 2,794 0
BRISTOL MYERS SQUIBB CO COM 110122108 168 20,000 SH Call OTR 1 2 0 20,000 0
BROOKLINE BANCORP INC DEL COM 11373M107 288 28,405 SH   OTR 1 2 0 28,405 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 3,688 116,306 SH   OTR 1 2 0 116,306 0
CAPITAL ONE FINL CORP COM 14040H105 1,654 22,810 SH   OTR 1 2 0 22,810 0
CAPITAL ONE FINL CORP COM 14040H105 26 5,000 SH Call OTR 1 2 0 5,000 0
CERUS CORP COM 157085101 1,303 286,880 SH   OTR 1 2 0 286,880 0
CIT GROUP INC COM NEW 125581801 556 13,900 SH   OTR 1 2 0 13,900 0
CIT GROUP INC COM NEW 125581801 65 12,000 SH Call OTR 1 2 0 12,000 0
CITIGROUP INC COM NEW 172967424 300 30,800 SH Call OTR 1 2 0 30,800 0
CITIGROUP INC COM NEW 172967424 1,132 22,823 SH   OTR 1 2 0 22,823 0
CLIFTON BANCORP INC COM 186873105 190 13,702 SH   OTR 1 2 0 13,702 0
CNO FINL GROUP INC COM 12621E103 4,665 248,010 SH   OTR 1 2 0 248,010 0
COMERICA INC *W EXP 11/14/201 200340115 1,306 104,462 SH   OTR 1 2 0 104,462 0
COMERICA INC COM 200340107 358 8,702 SH   OTR 1 2 0 8,702 0
CONNECTONE BANCORP INC NEW COM 20786W107 569 29,500 SH   OTR 1 2 0 29,500 0
COWEN GROUP INC NEW CL A 223622101 383 84,000 SH   OTR 1 2 0 84,000 0
CROCS INC COM 227046109 329 25,492 SH   OTR 1 2 0 25,492 0
DISCOVER FINL SVCS COM 254709108 151 26,400 SH Call OTR 1 2 0 26,400 0
DISCOVER FINL SVCS COM 254709108 338 6,500 SH   OTR 1 2 0 6,500 0
E M C CORP MASS COM 268648102 37 23,300 SH Call OTR 1 2 0 23,300 0
EASTERN VA BANKSHARES INC COM 277196101 108 16,000 SH   OTR 1 2 0 16,000 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 403 6,600 SH   OTR 1 2 0 6,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,043 41,420 SH   OTR 1 2 0 41,420 0
ESSA BANCORP INC COM 29667D104 1,279 98,688 SH   OTR 1 2 0 98,688 0
FACEBOOK INC CL A 30303M102 494 5,500 SH   OTR 1 2 0 5,500 0
FIFTH THIRD BANCORP COM 316773100 1,903 100,659 SH   OTR 1 2 0 100,659 0
FIFTH THIRD BANCORP COM 316773100 97 74,000 SH Call OTR 1 2 0 74,000 0
FIRST CAPITAL BANCORP VA COM 319438107 120 25,000 SH   OTR 1 2 0 25,000 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 163 17,352 SH   OTR 1 2 0 17,352 0
FIRST CMNTY CORP S C COM 319835104 167 13,500 SH   OTR 1 2 0 13,500 0
FIRST DEFIANCE FINL CORP COM 32006W106 622 17,016 SH   OTR 1 2 0 17,016 0
FRANKLIN FINL NETWORK INC COM 35352P104 670 29,973 SH   OTR 1 2 0 29,973 0
GENERAL ELECTRIC CO COM 369604103 226 71,000 SH Call OTR 1 2 0 71,000 0
GENIE ENERGY LTD CL B 372284208 225 27,426 SH   OTR 1 2 0 27,426 0
GENWORTH FINL INC COM CL A 37247D106 0 22,000 SH Call OTR 1 2 0 22,000 0
GOLDMAN SACHS BDC INC SHS 38147U107 765 41,578 SH   OTR 1 2 0 41,578 0
GOLDMAN SACHS GROUP INC COM 38141G104 207 7,400 SH Call OTR 1 2 0 7,400 0
GUARANTY FED BANCSHARES INC COM 40108P101 220 15,000 SH   OTR 1 2 0 15,000 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 940 494,999 SH   OTR 1 2 0 494,999 0
HANCOCK HLDG CO COM 410120109 1,512 55,912 SH   OTR 1 2 0 55,912 0
HANMI FINL CORP COM NEW 410495204 484 19,214 SH   OTR 1 2 0 19,214 0
HANOVER INS GROUP INC COM 410867105 1,012 13,026 SH   OTR 1 2 0 13,026 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 1,991 52,155 SH   OTR 1 2 0 52,155 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 15 11,000 SH Call OTR 1 2 0 11,000 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 191 11,000 SH Call OTR 1 2 0 11,000 0
HUDSON CITY BANCORP COM 443683107 1,584 155,800 SH   OTR 1 2 0 155,800 0
HUNTINGTON BANCSHARES INC COM 446150104 576 54,330 SH   OTR 1 2 0 54,330 0
HUNTSMAN CORP COM 447011107 0 15,000 SH Call OTR 1 2 0 15,000 0
IMPAC MTG HLDGS INC COM NEW 45254P508 1,559 95,375 SH   OTR 1 2 0 95,375 0
INVENSENSE INC COM 46123D205 1 25,000 SH Call OTR 1 2 0 25,000 0
INVESTORS BANCORP INC NEW COM 46146L101 2,063 167,217 SH   OTR 1 2 0 167,217 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,728 137,039 SH   OTR 1 2 0 137,039 0
JPMORGAN CHASE & CO COM 46625H100 1,374 22,534 SH   OTR 1 2 0 22,534 0
JPMORGAN CHASE & CO COM 46625H100 1,116 107,900 SH Call OTR 1 2 0 107,900 0
KEARNY FINL CORP MD COM 48716P108 195 17,036 SH   OTR 1 2 0 17,036 0
KEYCORP NEW COM 493267108 173 54,500 SH Call OTR 1 2 0 54,500 0
KEYCORP NEW COM 493267108 1,792 137,760 SH   OTR 1 2 0 137,760 0
KKR & CO L P DEL COM UNITS 48248M102 386 23,000 SH   OTR 1 2 0 23,000 0
LEADING BRANDS INC COM NEW 52170U207 695 196,934 SH   OTR 1 2 0 196,934 0
LEGG MASON INC COM 524901105 341 8,200 SH   OTR 1 2 0 8,200 0
LENNAR CORP CL A 526057104 270 5,600 SH   OTR 1 2 0 5,600 0
LENNAR CORP CL A 526057104 59 5,000 SH Call OTR 1 2 0 5,000 0
LINCOLN NATL CORP IND COM 534187109 313 6,600 SH   OTR 1 2 0 6,600 0
M & T BK CORP *W EXP 12/23/201 55261F112 4,459 90,577 SH   OTR 1 2 0 90,577 0
MADISON SQUARE GARDEN CO CL A 55826P100 265 3,667 SH   OTR 1 2 0 3,667 0
MAGNUM HUNTER RES CORP DEL COM 55973B102 53 156,000 SH   OTR 1 2 0 156,000 0
MAIDEN HOLDINGS LTD SHS G5753U112 382 27,500 SH   OTR 1 2 0 27,500 0
MB FINANCIAL INC NEW COM 55264U108 6,621 202,852 SH   OTR 1 2 0 202,852 0
MERCHANTS BANCSHARES COM 588448100 246 8,360 SH   OTR 1 2 0 8,360 0
MERIDIAN BANCORP INC MD COM 58958U103 2,612 191,079 SH   OTR 1 2 0 191,079 0
METLIFE INC COM 59156R108 720 15,280 SH   OTR 1 2 0 15,280 0
METLIFE INC COM 59156R108 178 36,100 SH Call OTR 1 2 0 36,100 0
MICROSOFT CORP COM 594918104 112 16,700 SH Call OTR 1 2 0 16,700 0
MIDSOUTH BANCORP INC COM 598039105 972 83,059 SH   OTR 1 2 0 83,059 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 365 29,420 SH   OTR 1 2 0 29,420 0
MORGAN STANLEY COM NEW 617446448 814 25,845 SH   OTR 1 2 0 25,845 0
MORGAN STANLEY COM NEW 617446448 261 46,200 SH Call OTR 1 2 0 46,200 0
NBT BANCORP INC COM 628778102 1,455 53,997 SH   OTR 1 2 0 53,997 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 128 15,000 SH   OTR 1 2 0 15,000 0
NORTHWEST BANCSHARES INC MD COM 667340103 770 59,193 SH   OTR 1 2 0 59,193 0
NXP SEMICONDUCTORS N V COM N6596X109 267 10,500 SH Call OTR 1 2 0 10,500 0
OLD SECOND BANCORP INC ILL COM 680277100 249 40,000 SH   OTR 1 2 0 40,000 0
ONE LIBERTY PPTYS INC COM 682406103 671 31,448 SH   OTR 1 2 0 31,448 0
ORITANI FINL CORP DEL COM 68633D103 169 10,800 SH   OTR 1 2 0 10,800 0
PFIZER INC COM 717081103 31 10,000 SH Call OTR 1 2 0 10,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 290 11,890 SH   OTR 1 2 0 11,890 0
PNC FINL SVCS GROUP INC COM 693475105 189 18,000 SH Call OTR 1 2 0 18,000 0
PNC FINL SVCS GROUP INC COM 693475105 3,716 41,661 SH   OTR 1 2 0 41,661 0
POPULAR INC COM NEW 733174700 332 10,982 SH   OTR 1 2 0 10,982 0
PRUDENTIAL FINL INC COM 744320102 242 19,300 SH Call OTR 1 2 0 19,300 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,374 32,600 SH   OTR 1 2 0 32,600 0
RADIUS HEALTH INC COM NEW 750469207 312 4,500 SH   OTR 1 2 0 4,500 0
REGIONS FINL CORP NEW COM 7591EP100 839 93,159 SH   OTR 1 2 0 93,159 0
REGIONS FINL CORP NEW COM 7591EP100 93 109,100 SH Call OTR 1 2 0 109,100 0
RITE AID CORP COM 767754104 3,639 599,435 SH   OTR 1 2 0 599,435 0
RITE AID CORP COM 767754104 35 15,000 SH Call OTR 1 2 0 15,000 0
ROSS STORES INC COM 778296103 126 10,000 SH Call OTR 1 2 0 10,000 0
SEACOAST BKG CORP FLA COM NEW 811707801 2,007 138,564 SH   OTR 1 2 0 138,564 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 91 19,558 SH   OTR 1 2 0 19,558 0
SKYWORKS SOLUTIONS INC COM 83088M102 523 14,500 SH Call OTR 1 2 0 14,500 0
SOUTH ST CORP COM 840441109 2,601 33,836 SH   OTR 1 2 0 33,836 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 480 36,000 SH   OTR 1 2 0 36,000 0
SOUTHERN NATL BANCORP OF VA COM 843395104 4,757 421,394 SH   OTR 1 2 0 421,394 0
STATE BK FINL CORP COM 856190103 687 33,236 SH   OTR 1 2 0 33,236 0
STATE STR CORP COM 857477103 410 6,100 SH   OTR 1 2 0 6,100 0
STERLING BANCORP DEL COM 85917A100 2,462 165,591 SH   OTR 1 2 0 165,591 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 289 35,154 SH   OTR 1 2 0 35,154 0
SUNTRUST BKS INC COM 867914103 1,247 32,620 SH   OTR 1 2 0 32,620 0
SUNTRUST BKS INC COM 867914103 169 32,000 SH Call OTR 1 2 0 32,000 0
SYNOVUS FINL CORP COM NEW 87161C501 2,436 82,277 SH   OTR 1 2 0 82,277 0
TRAVELERS COMPANIES INC COM 89417E109 119 1,200 SH   OTR 1 2 0 1,200 0
TRAVELERS COMPANIES INC COM 89417E109 257 21,600 SH Call OTR 1 2 0 21,600 0
UNITED CMNTY BANCORP IND COM 90984R101 822 55,000 SH   OTR 1 2 0 55,000 0
UNITED FINL BANCORP INC NEW COM 910304104 638 48,926 SH   OTR 1 2 0 48,926 0
US BANCORP DEL COM NEW 902973304 1,017 24,800 SH   OTR 1 2 0 24,800 0
WATERSTONE FINL INC MD COM 94188P101 250 18,561 SH   OTR 1 2 0 18,561 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 579 30,500 SH   OTR 1 2 0 30,500 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 614 75,700 SH Call OTR 1 2 0 75,700 0
WELLS FARGO & CO NEW COM 949746101 289 5,619 SH   OTR 1 2 0 5,619 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 408 53,333 SH   OTR 1 2 0 53,333 0
XL GROUP PLC SHS G98290102 436 12,000 SH   OTR 1 2 0 12,000 0
YOU ON DEMAND HLDGS INC COM NEW 98741R207 49 25,432 SH   OTR 1 2 0 25,432 0
ZIONS BANCORPORATION COM 989701107 96 25,000 SH Call OTR 1 2 0 25,000 0
ZOETIS INC CL A 98978V103 128 14,700 SH Call OTR 1 2 0 14,700 0
ZOETIS INC CL A 98978V103 86 2,100 SH   OTR 1 2 0 2,100 0