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 CONSTITUTION BANCORP COM 31986N102 1,942 105,254 SH   OTR 1 2 0 105,254 0
ABBOTT LABS COM 002824100 115 16,400 SH Call OTR 1 2 0 16,400 0
ABILITY INC SHS G8789K108 44 22,000 SH   OTR 1 2 0 22,000 0
ALCENTRA CAP CORP COM 01374T102 400 29,092 SH   OTR 1 2 0 29,092 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 396 7,458 SH   OTR 1 2 0 7,458 0
ALLSTATE CORP COM 020002101 604 7,418 SH   OTR 1 2 0 7,418 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 615 39,219 SH   OTR 1 2 0 39,219 0
AMERICAN INTL GROUP INC COM NEW 026874784 288 4,613 SH   OTR 1 2 0 4,613 0
AMERICAN INTL GROUP INC COM NEW 026874784 171 11,300 SH Call OTR 1 2 0 11,300 0
AMERIS BANCORP COM 03076K108 271 5,869 SH   OTR 1 2 0 5,869 0
APPLE INC COM 037833100 247 1,720 SH   OTR 1 2 0 1,720 0
ARALEZ PHARMACEUTICALS INC COM 03852X100 216 101,693 SH   OTR 1 2 0 101,693 0
ARBOR RLTY TR INC COM 038923108 1,878 224,059 SH   OTR 1 2 0 224,059 0
AT&T INC COM 00206R102 303 7,295 SH   OTR 1 2 0 7,295 0
ATLANTIC COAST FINL CORP COM 048426100 800 105,000 SH   OTR 1 2 0 105,000 0
BANC OF CALIFORNIA INC COM 05990K106 909 43,900 SH   OTR 1 2 0 43,900 0
BANK AMER CORP *W EXP 01/16/201 060505146 2,436 215,532 SH   OTR 1 2 0 215,532 0
BANK AMER CORP COM 060505104 32,667 1,384,780 SH   OTR 1 2 0 1,384,780 0
BANK AMER CORP COM 060505104 1,906 167,400 SH Call OTR 1 2 0 167,400 0
BANK COMM HLDGS COM 06424J103 239 22,300 SH   OTR 1 2 0 22,300 0
BANK NEW YORK MELLON CORP COM 064058100 430 40,800 SH Call OTR 1 2 0 40,800 0
BANK NEW YORK MELLON CORP COM 064058100 94 2,000 SH   OTR 1 2 0 2,000 0
BAY BANCORP INC COM 07203T106 382 48,698 SH   OTR 1 2 0 48,698 0
BB&T CORP COM 054937107 2,839 63,499 SH   OTR 1 2 0 63,499 0
BB&T CORP COM 054937107 564 55,700 SH Call OTR 1 2 0 55,700 0
BECTON DICKINSON & CO COM 075887109 256 1,394 SH   OTR 1 2 0 1,394 0
BIOSCRIP INC COM 09069N108 25 14,873 SH   OTR 1 2 0 14,873 0
BNC BANCORP COM 05566T101 766 21,841 SH   OTR 1 2 0 21,841 0
BRISTOL MYERS SQUIBB CO COM 110122108 165 11,000 SH Call OTR 1 2 0 11,000 0
BRISTOL MYERS SQUIBB CO COM 110122108 152 2,786 SH   OTR 1 2 0 2,786 0
BROOKLINE BANCORP INC DEL COM 11373M107 441 28,180 SH   OTR 1 2 0 28,180 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 5,205 131,390 SH   OTR 1 2 0 131,390 0
CAPITAL ONE FINL CORP COM 14040H105 1,965 22,671 SH   OTR 1 2 0 22,671 0
CB FINL SVCS INC COM 12479G101 602 21,268 SH   OTR 1 2 0 21,268 0
CERUS CORP COM 157085101 1,393 313,019 SH   OTR 1 2 0 313,019 0
CHEMICAL FINL CORP COM 163731102 248 4,856 SH   OTR 1 2 0 4,856 0
CHUBB LIMITED COM H1467J104 224 1,645 SH   OTR 1 2 0 1,645 0
CIT GROUP INC COM NEW 125581801 616 14,340 SH   OTR 1 2 0 14,340 0
CIT GROUP INC COM NEW 125581801 96 10,000 SH Call OTR 1 2 0 10,000 0
CITIGROUP INC COM NEW 172967424 1,363 22,797 SH   OTR 1 2 0 22,797 0
CITIGROUP INC COM NEW 172967424 1,127 61,200 SH Call OTR 1 2 0 61,200 0
CLIFTON BANCORP INC COM 186873105 210 12,961 SH   OTR 1 2 0 12,961 0
CNO FINL GROUP INC COM 12621E103 4,478 218,416 SH   OTR 1 2 0 218,416 0
COMERICA INC *W EXP 11/14/201 200340115 4,530 115,358 SH   OTR 1 2 0 115,358 0
COMERICA INC COM 200340107 1,444 21,050 SH   OTR 1 2 0 21,050 0
CONNECTONE BANCORP INC NEW COM 20786W107 703 28,985 SH   OTR 1 2 0 28,985 0
CROCS INC COM 227046109 180 25,492 SH   OTR 1 2 0 25,492 0
DISCOVER FINL SVCS COM 254709108 444 6,493 SH   OTR 1 2 0 6,493 0
DISCOVER FINL SVCS COM 254709108 286 14,600 SH Call OTR 1 2 0 14,600 0
EASTERN VA BANKSHARES INC COM 277196101 272 25,977 SH   OTR 1 2 0 25,977 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,159 27,345 SH   OTR 1 2 0 27,345 0
ESSA BANCORP INC COM 29667D104 1,193 81,826 SH   OTR 1 2 0 81,826 0
FACEBOOK INC CL A 30303M102 781 5,500 SH   OTR 1 2 0 5,500 0
FAUQUIER BANKSHARES INC VA COM 312059108 849 46,781 SH   OTR 1 2 0 46,781 0
FIDELITY SOUTHERN CORP NEW COM 316394105 238 10,617 SH   OTR 1 2 0 10,617 0
FIDUS INVT CORP COM 316500107 358 20,400 SH   OTR 1 2 0 20,400 0
FIFTH THIRD BANCORP COM 316773100 2,555 100,604 SH   OTR 1 2 0 100,604 0
FIFTH THIRD BANCORP COM 316773100 94 14,600 SH Call OTR 1 2 0 14,600 0
FIRST CMNTY CORP S C COM 319835104 297 13,500 SH   OTR 1 2 0 13,500 0
FIRST DEFIANCE FINL CORP COM 32006W106 842 17,016 SH   OTR 1 2 0 17,016 0
FIRST GTY BANCSHARES INC COM 32043P106 1,343 55,476 SH   OTR 1 2 0 55,476 0
FIRST NBC BK HLDG CO COM 32115D106 486 121,531 SH   OTR 1 2 0 121,531 0
FNB CORP PA COM 302520101 149 10,000 SH   OTR 1 2 0 10,000 0
FRANKLIN FINL NETWORK INC COM 35352P104 2,253 58,133 SH   OTR 1 2 0 58,133 0
GENERAL ELECTRIC CO COM 369604103 38 13,500 SH Call OTR 1 2 0 13,500 0
GENIE ENERGY LTD CL B 372284208 195 26,880 SH   OTR 1 2 0 26,880 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 19 10,000 SH Call OTR 1 2 0 10,000 0
GOLDMAN SACHS BDC INC SHS 38147U107 1,235 50,128 SH   OTR 1 2 0 50,128 0
GOLDMAN SACHS BDC INC SHS 38147U107 357 5,600 SH Call OTR 1 2 0 5,600 0
GUARANTY FED BANCSHARES INC COM 40108P101 286 15,000 SH   OTR 1 2 0 15,000 0
HANCOCK HLDG CO COM 410120109 2,721 59,740 SH   OTR 1 2 0 59,740 0
HANESBRANDS INC COM 410345102 32 5,000 SH Call OTR 1 2 0 5,000 0
HANESBRANDS INC COM 410345102 208 10,000 SH   OTR 1 2 0 10,000 0
HANMI FINL CORP COM NEW 410495204 551 17,914 SH   OTR 1 2 0 17,914 0
HANOVER INS GROUP INC COM 410867105 1,153 12,804 SH   OTR 1 2 0 12,804 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 2,221 53,218 SH   OTR 1 2 0 53,218 0
HERCULES CAPITAL INC COM 427096508 227 15,000 SH   OTR 1 2 0 15,000 0
HOMESTREET INC COM 43785V102 324 11,600 SH   OTR 1 2 0 11,600 0
HOMETOWN BANKSHARES CORP COM 43787N108 242 24,960 SH   OTR 1 2 0 24,960 0
HOPE BANCORP INC COM 43940T109 383 19,981 SH   OTR 1 2 0 19,981 0
HUNTINGTON BANCSHARES INC COM 446150104 490 36,607 SH   OTR 1 2 0 36,607 0
IMPAC MTG HLDGS INC COM NEW 45254P508 2,042 163,925 SH   OTR 1 2 0 163,925 0
INVESTORS BANCORP INC NEW COM 46146L101 635 44,125 SH   OTR 1 2 0 44,125 0
ISHARES TR US REGNL BKS ETF 464288778 210 4,683 SH   OTR 1 2 0 4,683 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 7,747 167,293 SH   OTR 1 2 0 167,293 0
JPMORGAN CHASE & CO COM 46625H100 2,858 32,532 SH   OTR 1 2 0 32,532 0
JPMORGAN CHASE & CO COM 46625H100 2,593 86,300 SH Call OTR 1 2 0 86,300 0
KEARNY FINL CORP MD COM 48716P108 365 24,238 SH   OTR 1 2 0 24,238 0
KEYCORP NEW COM 493267108 3,149 177,092 SH   OTR 1 2 0 177,092 0
KEYCORP NEW COM 493267108 299 49,400 SH Call OTR 1 2 0 49,400 0
KINGSTONE COS INC COM 496719105 1,005 63,000 SH   OTR 1 2 0 63,000 0
KKR & CO L P DEL COM UNITS 48248M102 419 23,000 SH   OTR 1 2 0 23,000 0
LEADING BRANDS INC COM NEW 52170U207 354 197,571 SH   OTR 1 2 0 197,571 0
LEGG MASON INC COM 524901105 295 8,169 SH   OTR 1 2 0 8,169 0
LENNAR CORP CL A 526057104 286 5,593 SH   OTR 1 2 0 5,593 0
LENNAR CORP CL A 526057104 41 4,900 SH Call OTR 1 2 0 4,900 0
LINCOLN NATL CORP IND COM 534187109 431 6,585 SH   OTR 1 2 0 6,585 0
LYDALL INC DEL COM 550819106 268 5,000 SH   OTR 1 2 0 5,000 0
M & T BK CORP *W EXP 12/23/201 55261F112 7,784 123,806 SH   OTR 1 2 0 123,806 0
M & T BK CORP COM 55261F104 1,867 12,065 SH   OTR 1 2 0 12,065 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 243 1,216 SH   OTR 1 2 0 1,216 0
MAIDEN HOLDINGS LTD SHS G5753U112 245 17,488 SH   OTR 1 2 0 17,488 0
MB FINANCIAL INC NEW COM 55264U108 6,645 155,186 SH   OTR 1 2 0 155,186 0
MERIDIAN BANCORP INC MD COM 58958U103 3,862 211,046 SH   OTR 1 2 0 211,046 0
METLIFE INC COM 59156R108 807 15,277 SH   OTR 1 2 0 15,277 0
METLIFE INC COM 59156R108 300 33,500 SH Call OTR 1 2 0 33,500 0
MIDSOUTH BANCORP INC COM 598039105 1,947 127,265 SH   OTR 1 2 0 127,265 0
MONROE CAP CORP COM 610335101 807 51,304 SH   OTR 1 2 0 51,304 0
MORGAN STANLEY COM NEW 617446448 1,106 25,809 SH   OTR 1 2 0 25,809 0
MORGAN STANLEY COM NEW 617446448 639 46,200 SH Call OTR 1 2 0 46,200 0
NBT BANCORP INC COM 628778102 1,594 42,997 SH   OTR 1 2 0 42,997 0
NORTHWEST BANCSHARES INC MD COM 667340103 454 37,279 SH   OTR 1 2 0 37,279 0
OLD SECOND BANCORP INC ILL COM 680277100 450 40,000 SH   OTR 1 2 0 40,000 0
ONE LIBERTY PPTYS INC COM 682406103 784 33,548 SH   OTR 1 2 0 33,548 0
PACIFIC MERCANTILE BANCORP COM 694552100 355 47,000 SH   OTR 1 2 0 47,000 0
PARAGON COML CORP COM NEW 69911U403 401 7,500 SH   OTR 1 2 0 7,500 0
PARK STERLING CORP COM 70086Y105 218 17,670 SH   OTR 1 2 0 17,670 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 3,328 112,462 SH   OTR 1 2 0 112,462 0
PFIZER INC COM 717081103 205 5,988 SH   OTR 1 2 0 5,988 0
PFIZER INC COM 717081103 36 10,000 SH Call OTR 1 2 0 10,000 0
PINNACLE FINL PARTNERS INC COM 72346Q104 1,794 27,000 SH   OTR 1 2 0 27,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 780 14,754 SH   OTR 1 2 0 14,754 0
PNC FINL SVCS GROUP INC COM 693475105 4,866 40,472 SH   OTR 1 2 0 40,472 0
POPULAR INC COM NEW 733174700 649 15,924 SH   OTR 1 2 0 15,924 0
PROSPERITY BANCSHARES INC COM 743606105 309 4,433 SH   OTR 1 2 0 4,433 0
PRUDENTIAL FINL INC COM 744320102 367 11,900 SH Call OTR 1 2 0 11,900 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,273 28,700 SH   OTR 1 2 0 28,700 0
RADIUS HEALTH INC COM NEW 750469207 290 7,500 SH   OTR 1 2 0 7,500 0
REGIONS FINL CORP NEW COM 7591EP100 2,439 167,888 SH   OTR 1 2 0 167,888 0
REGIONS FINL CORP NEW COM 7591EP100 230 35,600 SH Call OTR 1 2 0 35,600 0
RITE AID CORP COM 767754104 10 15,000 SH Call OTR 1 2 0 15,000 0
RITE AID CORP COM 767754104 2,998 705,434 SH   OTR 1 2 0 705,434 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 138 10,900 SH   OTR 1 2 0 10,900 0
SEACOAST BKG CORP FLA COM NEW 811707801 3,147 131,218 SH   OTR 1 2 0 131,218 0
SEAWORLD ENTMT INC COM 81282V100 183 10,000 SH   OTR 1 2 0 10,000 0
SEAWORLD ENTMT INC COM 81282V100 57 24,000 SH Call OTR 1 2 0 24,000 0
SKYWORKS SOLUTIONS INC COM 83088M102 492 13,500 SH Call OTR 1 2 0 13,500 0
SOUTH ST CORP COM 840441109 3,003 33,607 SH   OTR 1 2 0 33,607 0
SOUTHERN NATL BANCORP OF VA COM 843395104 7,608 449,373 SH   OTR 1 2 0 449,373 0
STATE BK FINL CORP COM 856190103 868 33,236 SH   OTR 1 2 0 33,236 0
STATE STR CORP COM 857477103 485 6,088 SH   OTR 1 2 0 6,088 0
STERLING BANCORP DEL COM 85917A100 3,402 143,558 SH   OTR 1 2 0 143,558 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 1,389 76,678 SH   OTR 1 2 0 76,678 0
SUNTRUST BKS INC COM 867914103 209 10,400 SH Call OTR 1 2 0 10,400 0
SUNTRUST BKS INC COM 867914103 1,338 24,187 SH   OTR 1 2 0 24,187 0
SYNOVUS FINL CORP COM NEW 87161C501 2,328 56,762 SH   OTR 1 2 0 56,762 0
TERRITORIAL BANCORP INC COM 88145X108 892 37,997 SH   OTR 1 2 0 37,997 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 535 16,527 SH   OTR 1 2 0 16,527 0
TRIANGLE CAP CORP COM 895848109 1,449 75,887 SH   OTR 1 2 0 75,887 0
UNION BANKSHARES CORP NEW COM 90539J109 665 18,909 SH   OTR 1 2 0 18,909 0
UNITED CMNTY BANCORP IND COM 90984R101 974 55,000 SH   OTR 1 2 0 55,000 0
UNITED FINL BANCORP INC NEW COM 910304104 806 47,369 SH   OTR 1 2 0 47,369 0
UNITED PARCEL SERVICE INC CL B 911312106 214 1,993 SH   OTR 1 2 0 1,993 0
US BANCORP DEL COM NEW 902973304 1,251 24,288 SH   OTR 1 2 0 24,288 0
WATERSTONE FINL INC MD COM 94188P101 339 18,556 SH   OTR 1 2 0 18,556 0
WECAST NETWORK INC COM 94850Q106 52 25,000 SH   OTR 1 2 0 25,000 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 843 45,005 SH   OTR 1 2 0 45,005 0
XENITH BANKSHARES INC NEW COM NEW 984102202 1,255 49,466 SH   OTR 1 2 0 49,466 0
XL GROUP LTD COM G98294104 299 7,496 SH   OTR 1 2 0 7,496 0
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 201 17,500 SH   OTR 1 2 0 17,500 0
ZIONS BANCORPORATION COM 989701107 212 17,000 SH Call OTR 1 2 0 17,000 0
ZOETIS INC CL A 98978V103 152 11,700 SH Call OTR 1 2 0 11,700 0
ZOETIS INC CL A 98978V103 112 2,095 SH   OTR 1 2 0 2,095 0