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
AERCAP HOLDINGS NV SHS N00985106 4,643 100,000 SH   OTR 35 0 0 100,000
AFLAC INC COM 001055102 6,836 88,000 SH Put OTR 35 0 0 88,000
ALLSTATE CORP COM 020002101 15,566 176,000 SH Put OTR 35 0 0 176,000
AMERICAN EXPRESS CO COM 025816109 14,826 176,000 SH Put OTR 35 0 0 176,000
AMERICAN INTL GROUP INC COM NEW 026874784 11,004 176,000 SH Put OTR 35 0 0 176,000
AMERIS BANCORP COM 03076k108 19,087 396,000 SH   OTR 35 0 0 396,000
ASB BANCORP INC N C COM 00213T109 4,651 105,823 SH   OTR 35 0 0 105,823
ASTORIA FINL CORP COM 046265104 13,097 650,000 SH   OTR 35 0 0 650,000
ATLANTIC CAP BANCSHARES INC COM 048269203 605 31,841 SH   OTR 34 0 0 31,841
ATLANTIC CAP BANCSHARES INC COM 048269203 27,008 1,421,463 SH   OTR 35 0 0 1,421,463
ATLANTIC COAST FINL CORP COM 048426100 1,235 157,529 SH   OTR 34 0 0 157,529
ATLANTIC COAST FINL CORP COM 048426100 4,225 538,908 SH   OTR 35 0 0 538,908
BANCORP 34 INC COM 05970v106 484 34,489 SH   OTR 34 0 0 34,489
BANCORPSOUTH INC COM 059692103 2,542 83,360 SH   OTR 35 0 0 83,360
BANK AMER CORP COM 060505104 10,932 450,600 SH   OTR 35 0 0 450,600
BANK NEW YORK MELLON CORP COM 064058100 4,490 88,000 SH Put OTR 35 0 0 88,000
BANKUNITED INC COM 06652K103 16,855 500,000 SH   OTR 35 0 0 500,000
BB&T CORP COM 054937107 15,984 352,000 SH Put OTR 35 0 0 352,000
BERKSHIRE HILLS BANCORP INC COM 084680107 363 10,320 SH   OTR 34 0 0 10,320
BERKSHIRE HILLS BANCORP INC COM 084680107 6,345 180,510 SH   OTR 35 0 0 180,510
BOSTON PRIVATE FINL HLDGS IN COM 101119105 353 22,986 SH   OTR 34 0 0 22,986
BOSTON PRIVATE FINL HLDGS IN COM 101119105 13,815 900,000 SH   OTR 35 0 0 900,000
BROOKLINE BANCORP INC DEL COM 11373m107 5,180 354,795 SH   OTR 35 0 0 354,795
BSB BANCORP INC MD COM 05573H108 626 21,408 SH   OTR 34 0 0 21,408
BYLINE BANCORP INC COM 124411109 5,891 293,830 SH   OTR 35 0 0 293,830
CAMDEN NATL CORP COM 133034108 5,149 120,000 SH   OTR 35 0 0 120,000
CAPITAL BK FINL CORP CL A COM 139794101 8,572 225,000 SH   OTR 35 0 0 225,000
CAPITAL ONE FINL CORP COM 14040H105 7,271 88,000 SH Put OTR 35 0 0 88,000
CAROLINA FINL CORP NEW COM 143873107 45 1,400 SH   OTR 34 0 0 1,400
CAROLINA FINL CORP NEW COM 143873107 5,838 180,640 SH   OTR 35 0 0 180,640
CITIZENS FINL GROUP INC COM 174610105 7,136 200,000 SH   OTR 35 0 0 200,000
CIVISTA BANCSHARES INC COM NO PAR 178867107 456 21,860 SH   OTR 34 0 0 21,860
COBIZ FINANCIAL INC COM 190897108 2,189 125,782 SH   OTR 35 0 0 125,782
COWEN INC CL A NEW 223622606 14,107 868,146 SH   OTR 35 0 0 868,146
DISCOVER FINL SVCS COM 254709108 2,332 37,500 SH   OTR 35 0 0 37,500
E TRADE FINANCIAL CORP COM NEW 269246401 7,606 200,000 SH   OTR 35 0 0 200,000
EQUITY BANCSHARES INC COM CL A 29460x109 565 18,430 SH   OTR 34 0 0 18,430
EQUITY BANCSHARES INC COM CL A 29460x109 13,115 428,050 SH   OTR 35 0 0 428,050
ESQUIRE FINL HLDGS INC COM 29667J101 666 44,400 SH   OTR 34 0 0 44,400
EVANS BANCORP INC COM NEW 29911Q208 3,621 90,644 SH   OTR 35 0 0 90,644
FB FINL CORP COM 30257x104 36,366 1,004,855 SH   OTR 35 0 0 1,004,855
FIDELITY SOUTHERN CORP NEW COM 316394105 10,504 459,501 SH   OTR 35 0 0 459,501
FIFTH THIRD BANCORP COM 316773100 6,853 264,000 SH Put OTR 35 0 0 264,000
FIRST BANCORP N C COM 318910106 23,998 767,705 SH   OTR 35 0 0 767,705
FIRST BANCORP N C COM 318910106 515 16,475 SH   OTR 34 0 0 16,475
FIRST BANCSHARES INC MS COM 318916103 10,845 392,934 SH   OTR 35 0 0 392,934
FIRST CMNTY CORP S C COM 319835104 1,164 55,425 SH   OTR 34 0 0 55,425
FIRST CMNTY CORP S C COM 319835104 4,978 237,065 SH   OTR 35 0 0 237,065
FIRST CONN BANCORP INC MD COM 319850103 4,767 185,854 SH   OTR 35 0 0 185,854
FIRST FNDTN INC COM 32026v104 23,225 1,413,596 SH   OTR 35 0 0 1,413,596
FIRST FNDTN INC COM 32026v104 606 36,886 SH   OTR 34 0 0 36,886
FIRST HORIZON NATL CORP COM 320517105 3,484 200,000 SH   OTR 35 0 0 200,000
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 868 23,341 SH   OTR 34 0 0 23,341
FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 16,476 442,890 SH   OTR 35 0 0 442,890
FIRST MIDWEST BANCORP DEL COM 320867104 3,496 150,000 SH   OTR 35 0 0 150,000
FIRST SOUTH BANCORP INC VA COM 33646W100 411 24,868 SH   OTR 34 0 0 24,868
FIRST SOUTH BANCORP INC VA COM 33646W100 4,113 248,668 SH   OTR 35 0 0 248,668
FSB BANCORP INC COM 30289C102 259 17,550 SH   OTR 34 0 0 17,550
GREEN BANCORP INC COM 39260x100 4,881 251,620 SH   OTR 35 0 0 251,620
GUARANTY BANCORP DEL COM NEW 40075T607 569 20,906 SH   OTR 34 0 0 20,906
GUARANTY BANCORP DEL COM NEW 40075T607 17,052 626,906 SH   OTR 35 0 0 626,906
HERITAGE FINL CORP WASH COM 42722X106 158 5,955 SH   OTR 34 0 0 5,955
HERITAGE FINL CORP WASH COM 42722X106 11,910 449,452 SH   OTR 35 0 0 449,452
HOME BANCSHARES INC COM 436893200 9,618 386,250 SH   OTR 35 0 0 386,250
HOMESTREET INC COM 43785v102 7,269 262,670 SH   OTR 35 0 0 262,670
HOMETRUST BANCSHARES INC COM 437872104 6,074 248,939 SH   OTR 35 0 0 248,939
HOWARD BANCORP INC COM 442496105 388 20,180 SH   OTR 34 0 0 20,180
IBERIABANK CORP COM 450828108 14,262 175,000 SH   OTR 35 0 0 175,000
INDEPENDENT BK GROUP INC COM 45384b106 2,726 45,820 SH   OTR 35 0 0 45,820
INVESTAR HLDG CORP COM 46134L105 328 14,330 SH   OTR 34 0 0 14,330
ISHARES TR IBOXX HI YD ETF 464288513 31,112 352,000 SH Put OTR 35 0 0 352,000
ISHARES TR MSCI EMG MKT ETF 464287234 14,569 352,000 SH Put OTR 35 0 0 352,000
ISHARES TR RUSSELL 2000 ETF 464287655 37,203 264,000 SH Put OTR 35 0 0 264,000
JPMORGAN CHASE & CO COM 46625h100 8,043 88,000 SH Put OTR 35 0 0 88,000
KEARNY FINL CORP MD COM 48716p108 1,681 113,212 SH   OTR 35 0 0 113,212
LAKELAND BANCORP INC COM 511637100 9,425 500,000 SH   OTR 35 0 0 500,000
M & T BK CORP *W EXP 12/23/201 55261F112 3,523 40,000 SH   OTR 35 0 0 40,000
MANNING & NAPIER INC CL A 56382q102 3,930 903,497 SH   OTR 35 0 0 903,497
MASTERCARD INCORPORATED CL A 57636Q104 10,688 88,000 SH Put OTR 35 0 0 88,000
MIDSOUTH BANCORP INC COM 598039105 1,000 85,109 SH   OTR 34 0 0 85,109
MIDSOUTH BANCORP INC COM 598039105 6,871 584,730 SH   OTR 35 0 0 584,730
MORGAN STANLEY COM NEW 617446448 3,921 88,000 SH Put OTR 35 0 0 88,000
NATIONAL COMM CORP COM 63546l102 596 15,070 SH   OTR 34 0 0 15,070
OCEANFIRST FINL CORP COM 675234108 15,699 578,860 SH   OTR 35 0 0 578,860
OLD LINE BANCSHARES INC COM 67984m100 5,636 200,000 SH   OTR 35 0 0 200,000
OLD SECOND BANCORP INC ILL COM 680277100 3,272 283,288 SH   OTR 35 0 0 283,288
OPUS BK IRVINE CALIF COM 684000102 28,518 1,178,420 SH   OTR 35 0 0 1,178,420
PACIFIC PREMIER BANCORP COM 69478x105 34,264 928,557 SH   OTR 35 0 0 928,557
PARAGON COML CORP COM NEW 69911U403 310 5,908 SH   OTR 34 0 0 5,908
PARAGON COML CORP COM NEW 69911U403 5,843 111,367 SH   OTR 35 0 0 111,367
PARK STERLING CORP COM 70086Y105 572 48,145 SH   OTR 34 0 0 48,145
PARK STERLING CORP COM 70086Y105 38,234 3,218,333 SH   OTR 35 0 0 3,218,333
PCSB FINL CORP COM 69324R104 521 30,530 SH   OTR 34 0 0 30,530
PCSB FINL CORP COM 69324R104 4,975 291,630 SH   OTR 35 0 0 291,630
PEAPACK-GLADSTONE FINL CORP COM 704699107 7,190 229,770 SH   OTR 35 0 0 229,770
PERFORMANT FINL CORP COM 71377e105 1,219 583,418 SH   OTR 35 0 0 583,418
PINNACLE FINL PARTNERS INC COM 72346Q104 52,831 841,264 SH   OTR 35 0 0 841,264
PROGRESSIVE CORP OHIO COM 743315103 3,880 88,000 SH Put OTR 35 0 0 88,000
PROVIDENT FINL SVCS INC COM 74386T105 3,172 125,000 SH   OTR 35 0 0 125,000
REGIONS FINL CORP NEW COM 7591ep100 6,588 450,000 SH   OTR 35 0 0 450,000
SCHWAB CHARLES CORP NEW COM 808513105 5,671 132,000 SH Put OTR 35 0 0 132,000
SEACOAST BKG CORP FLA COM NEW 811707801 25,624 1,063,240 SH   OTR 35 0 0 1,063,240
SELECT BANCORP INC NEW COM 81617L108 588 48,080 SH   OTR 35 0 0 48,080
SELECT BANCORP INC NEW COM 81617L108 599 48,986 SH   OTR 34 0 0 48,986
SELECT SECTOR SPDR TR SBI INT-FINL 81369y605 43,419 1,760,000 SH Put OTR 35 0 0 1,760,000
SHORE BANCSHARES INC COM 825107105 3,290 200,000 SH   OTR 35 0 0 200,000
SI FINL GROUP INC MD COM 78425V104 1,610 100,000 SH   OTR 34 0 0 100,000
SILVERCREST ASSET MGMT GROUP CL A 828359109 8,080 600,761 SH   OTR 35 0 0 600,761
SOUTH ST CORP COM 840441109 4,285 50,000 SH   OTR 35 0 0 50,000
SOUTHERN FIRST BANCSHARES IN COM 842873101 1,242 33,535 SH   OTR 34 0 0 33,535
SOUTHERN FIRST BANCSHARES IN COM 842873101 11,474 309,692 SH   OTR 35 0 0 309,692
SOUTHERN NATL BANCORP OF VA COM 843395104 4,400 250,000 SH   OTR 35 0 0 250,000
SOUTHERN NATL BANCORP OF VA COM 843395104 1,222 69,417 SH   OTR 34 0 0 69,417
SPDR S&P 500 ETF TR TR UNIT 78462F103 53,196 220,000 SH Put OTR 35 0 0 220,000
SPDR SERIES TRUST S&P BK ETF 78464a797 3,830 88,000 SH Put OTR 35 0 0 88,000
SPDR SERIES TRUST S&P REGL BKG 78464a698 29,016 528,000 SH Put OTR 35 0 0 528,000
STATE BK FINL CORP COM 856190103 13,986 515,716 SH   OTR 35 0 0 515,716
STATE STR CORP COM 857477103 7,896 88,000 SH Put OTR 35 0 0 88,000
SUN BANCORP INC COM NEW 86663b201 3,295 133,688 SH   OTR 35 0 0 133,688
SUNSHINE BANCORP INC COM 86777J108 3,300 154,850 SH   OTR 35 0 0 154,850
SUNSHINE BANCORP INC COM 86777J108 2,494 117,047 SH   OTR 34 0 0 117,047
SYNOVUS FINL CORP COM NEW 87161C501 4,424 100,000 SH   OTR 35 0 0 100,000
TD AMERITRADE HLDG CORP COM 87236Y108 9,458 220,000 SH Put OTR 35 0 0 220,000
TRAVELERS COMPANIES INC COM 89417e109 5,567 44,000 SH Put OTR 35 0 0 44,000
TRIUMPH BANCORP INC COM 89679e300 1,547 63,021 SH   OTR 34 0 0 63,021
TRIUMPH BANCORP INC COM 89679e300 27,009 1,100,159 SH   OTR 35 0 0 1,100,159
UNITED FINL BANCORP INC NEW COM 910304104 16,272 974,935 SH   OTR 35 0 0 974,935
US BANCORP DEL COM NEW 902973304 11,422 220,000 SH Put OTR 35 0 0 220,000
VALLEY NATL BANCORP COM 919794107 16,007 1,355,390 SH   OTR 35 0 0 1,355,390
VERITEX HLDGS INC COM 923451108 7,901 300,060 SH   OTR 35 0 0 300,060
VISA INC COM CL A 92826c839 8,253 88,000 SH Put OTR 35 0 0 88,000
WELLS FARGO CO NEW COM 949746101 9,752 176,000 SH Put OTR 35 0 0 176,000
WESTERN ALLIANCE BANCORP COM 957638109 12,300 250,000 SH   OTR 35 0 0 250,000
WESTERN NEW ENG BANCORP INC COM 958892101 144 14,187 SH   OTR 34 0 0 14,187
WESTERN NEW ENG BANCORP INC COM 958892101 8,653 852,471 SH   OTR 35 0 0 852,471
XENITH BANKSHARES INC NEW COM NEW 984102202 18,318 589,776 SH   OTR 35 0 0 589,776
XL GROUP LTD COM g98294104 13,490 308,000 SH Put OTR 35 0 0 308,000