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 2,050 112,028 SH   OTR 1 2 0 112,028 0
ALCENTRA CAP CORP COM 01374T102 397 47,292 SH   OTR 1 2 0 47,292 0
ALLSTATE CORP COM 020002101 770 7,349 SH   OTR 1 2 0 7,349 0
ALLSTATE CORP COM 020002101 131 3,800 SH Call OTR 1 2 0 3,800 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 867 47,828 SH   OTR 1 2 0 47,828 0
AMERICAN INTL GROUP INC COM NEW 026874784 275 4,613 SH   OTR 1 2 0 4,613 0
AMERICAN INTL GROUP INC COM NEW 026874784 145 11,300 SH Call OTR 1 2 0 11,300 0
AMERIS BANCORP COM 03076K108 281 5,829 SH   OTR 1 2 0 5,829 0
APPLE INC COM 037833100 292 1,722 SH   OTR 1 2 0 1,722 0
ARALEZ PHARMACEUTICALS INC COM 03852X100 151 106,293 SH   OTR 1 2 0 106,293 0
ARBOR RLTY TR INC COM 038923108 2,065 239,059 SH   OTR 1 2 0 239,059 0
AT&T INC COM 00206R102 47 10,000 SH Call OTR 1 2 0 10,000 0
AT&T INC COM 00206R102 537 13,500 SH   OTR 1 2 0 13,500 0
ATLANTIC COAST FINL CORP COM 048426100 1,727 183,180 SH   OTR 1 2 0 183,180 0
BANC OF CALIFORNIA INC COM 05990K106 625 30,286 SH   OTR 1 2 0 30,286 0
BANK AMER CORP *W EXP 01/16/201 060505146 4,380 249,437 SH   OTR 1 2 0 249,437 0
BANK AMER CORP COM 060505104 44,983 1,523,814 SH   OTR 1 2 0 1,523,814 0
BANK AMER CORP COM 060505104 2,096 158,600 SH Call OTR 1 2 0 158,600 0
BANK COMM HLDGS COM 06424J103 256 22,300 SH   OTR 1 2 0 22,300 0
BANK NEW YORK MELLON CORP COM 064058100 108 2,005 SH   OTR 1 2 0 2,005 0
BANK NEW YORK MELLON CORP COM 064058100 549 38,800 SH Call OTR 1 2 0 38,800 0
BAY BANCORP INC COM 07203T106 473 38,698 SH   OTR 1 2 0 38,698 0
BB&T CORP COM 054937107 3,146 63,265 SH   OTR 1 2 0 63,265 0
BB&T CORP COM 054937107 646 57,300 SH Call OTR 1 2 0 57,300 0
BECTON DICKINSON & CO COM 075887109 298 1,394 SH   OTR 1 2 0 1,394 0
BENEFICIAL BANCORP INC COM 08171T102 1,021 62,077 SH   OTR 1 2 0 62,077 0
BIOSCRIP INC COM 09069N108 70 24,075 SH   OTR 1 2 0 24,075 0
BRISTOL MYERS SQUIBB CO COM 110122108 171 2,788 SH   OTR 1 2 0 2,788 0
BRISTOL MYERS SQUIBB CO COM 110122108 96 5,000 SH Call OTR 1 2 0 5,000 0
BROOKLINE BANCORP INC DEL COM 11373M107 479 30,496 SH   OTR 1 2 0 30,496 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 6,911 119,210 SH   OTR 1 2 0 119,210 0
CAPITAL ONE FINL CORP COM 14040H105 2,254 22,639 SH   OTR 1 2 0 22,639 0
CB FINL SVCS INC COM 12479G101 878 29,273 SH   OTR 1 2 0 29,273 0
CERUS CORP COM 157085101 1,364 403,639 SH   OTR 1 2 0 403,639 0
CHEMICAL FINL CORP COM 163731102 591 11,050 SH   OTR 1 2 0 11,050 0
CHUBB LIMITED COM H1467J104 238 1,628 SH   OTR 1 2 0 1,628 0
CIT GROUP INC COM NEW 125581801 1,198 24,340 SH   OTR 1 2 0 24,340 0
CIT GROUP INC COM NEW 125581801 196 13,000 SH Call OTR 1 2 0 13,000 0
CITIGROUP INC COM NEW 172967424 1,278 17,174 SH   OTR 1 2 0 17,174 0
CITIGROUP INC COM NEW 172967424 1,713 63,500 SH Call OTR 1 2 0 63,500 0
CITIZENS FINL GROUP INC COM 174610105 498 11,852 SH   OTR 1 2 0 11,852 0
CITIZENS FIRST CORP COM 17462Q107 240 10,000 SH   OTR 1 2 0 10,000 0
CLIFTON BANCORP INC COM 186873105 221 12,933 SH   OTR 1 2 0 12,933 0
CNO FINL GROUP INC COM 12621E103 4,652 188,416 SH   OTR 1 2 0 188,416 0
COASTWAY BANCORP INC COM 190632109 212 10,000 SH   OTR 1 2 0 10,000 0
COLUMBIA BKG SYS INC COM 197236102 243 5,603 SH   OTR 1 2 0 5,603 0
COMERICA INC *W EXP 11/14/201 200340115 6,691 114,763 SH   OTR 1 2 0 114,763 0
COMERICA INC COM 200340107 1,827 21,050 SH   OTR 1 2 0 21,050 0
CONNECTONE BANCORP INC NEW COM 20786W107 754 29,283 SH   OTR 1 2 0 29,283 0
COWEN INC CL A NEW 223622606 5,249 384,593 SH   OTR 1 2 0 384,593 0
CROCS INC COM 227046109 322 25,492 SH   OTR 1 2 0 25,492 0
DIME CMNTY BANCSHARES COM 253922108 629 30,000 SH   OTR 1 2 0 30,000 0
DISCOVER FINL SVCS COM 254709108 363 14,600 SH Call OTR 1 2 0 14,600 0
DISCOVER FINL SVCS COM 254709108 481 6,258 SH   OTR 1 2 0 6,258 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,235 27,350 SH   OTR 1 2 0 27,350 0
ESSA BANCORP INC COM 29667D104 1,282 81,826 SH   OTR 1 2 0 81,826 0
FACEBOOK INC CL A 30303M102 971 5,500 SH   OTR 1 2 0 5,500 0
FAUQUIER BANKSHARES INC VA COM 312059108 1,025 46,781 SH   OTR 1 2 0 46,781 0
FIDELITY SOUTHERN CORP NEW COM 316394105 232 10,622 SH   OTR 1 2 0 10,622 0
FIDUS INVT CORP COM 316500107 313 20,600 SH   OTR 1 2 0 20,600 0
FIFTH THIRD BANCORP COM 316773100 148 14,400 SH Call OTR 1 2 0 14,400 0
FIFTH THIRD BANCORP COM 316773100 3,052 100,609 SH   OTR 1 2 0 100,609 0
FIRST CMNTY CORP S C COM 319835104 305 13,500 SH   OTR 1 2 0 13,500 0
FIRST DEFIANCE FINL CORP COM 32006W106 880 16,928 SH   OTR 1 2 0 16,928 0
FIRST GTY BANCSHARES INC COM 32043P106 1,526 61,020 SH   OTR 1 2 0 61,020 0
FNB CORP PA COM 302520101 298 21,596 SH   OTR 1 2 0 21,596 0
FRANKLIN FINL NETWORK INC COM 35352P104 5,395 158,216 SH   OTR 1 2 0 158,216 0
GENERAL ELECTRIC CO COM 369604103 10 41,500 SH Call OTR 1 2 0 41,500 0
GENIE ENERGY LTD CL B 372284208 115 26,380 SH   OTR 1 2 0 26,380 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 0 10,000 SH Call OTR 1 2 0 10,000 0
GOLDMAN SACHS BDC INC SHS 38147U107 1,112 50,128 SH   OTR 1 2 0 50,128 0
GUARANTY FED BANCSHARES INC COM 40108P101 337 15,000 SH   OTR 1 2 0 15,000 0
HANCOCK HLDG CO COM 410120109 2,957 59,736 SH   OTR 1 2 0 59,736 0
HANESBRANDS INC COM 410345102 46 10,000 SH Call OTR 1 2 0 10,000 0
HANESBRANDS INC COM 410345102 209 10,000 SH   OTR 1 2 0 10,000 0
HANMI FINL CORP COM NEW 410495204 544 17,914 SH   OTR 1 2 0 17,914 0
HANOVER INS GROUP INC COM 410867105 1,384 12,804 SH   OTR 1 2 0 12,804 0
HARBORONE BANCORP INC COM 41165F101 410 21,405 SH   OTR 1 2 0 21,405 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 2,743 53,218 SH   OTR 1 2 0 53,218 0
HERCULES CAPITAL INC COM 427096508 262 20,000 SH   OTR 1 2 0 20,000 0
HOMETOWN BANKSHARES CORP COM 43787N108 279 24,960 SH   OTR 1 2 0 24,960 0
HOMETRUST BANCSHARES INC COM 437872104 258 10,000 SH   OTR 1 2 0 10,000 0
HOPE BANCORP INC COM 43940T109 365 19,981 SH   OTR 1 2 0 19,981 0
HUNTINGTON BANCSHARES INC COM 446150104 533 36,612 SH   OTR 1 2 0 36,612 0
IMPAC MTG HLDGS INC COM NEW 45254P508 1,661 163,492 SH   OTR 1 2 0 163,492 0
INVESTORS BANCORP INC NEW COM 46146L101 397 28,591 SH   OTR 1 2 0 28,591 0
ISHARES TR US REGNL BKS ETF 464288778 231 4,683 SH   OTR 1 2 0 4,683 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 11,246 169,298 SH   OTR 1 2 0 169,298 0
JPMORGAN CHASE & CO COM 46625H100 3,453 32,289 SH   OTR 1 2 0 32,289 0
JPMORGAN CHASE & CO COM 46625H100 2,983 86,300 SH Call OTR 1 2 0 86,300 0
KEARNY FINL CORP MD COM 48716P108 349 24,130 SH   OTR 1 2 0 24,130 0
KEYCORP NEW COM 493267108 350 49,400 SH Call OTR 1 2 0 49,400 0
KEYCORP NEW COM 493267108 3,572 177,092 SH   OTR 1 2 0 177,092 0
KINGSTONE COS INC COM 496719105 1,070 56,904 SH   OTR 1 2 0 56,904 0
KKR & CO L P DEL COM UNITS 48248M102 484 23,000 SH   OTR 1 2 0 23,000 0
LEADING BRANDS INC COM NEW 52170U207 306 187,571 SH   OTR 1 2 0 187,571 0
LEGG MASON INC COM 524901105 343 8,169 SH   OTR 1 2 0 8,169 0
LENNAR CORP CL A 526057104 353 5,576 SH   OTR 1 2 0 5,576 0
LINCOLN NATL CORP IND COM 534187109 506 6,587 SH   OTR 1 2 0 6,587 0
LYDALL INC DEL COM 550819106 254 5,000 SH   OTR 1 2 0 5,000 0
M & T BK CORP *W EXP 12/23/201 55261F112 9,414 96,457 SH   OTR 1 2 0 96,457 0
M & T BK CORP COM 55261F104 2,045 11,960 SH   OTR 1 2 0 11,960 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 277 1,316 SH   OTR 1 2 0 1,316 0
MAIDEN HOLDINGS LTD SHS G5753U112 254 38,493 SH   OTR 1 2 0 38,493 0
MB FINANCIAL INC NEW COM 55264U108 6,909 155,186 SH   OTR 1 2 0 155,186 0
MERIDIAN BANCORP INC MD COM 58958U103 4,347 211,051 SH   OTR 1 2 0 211,051 0
METLIFE INC COM 59156R108 773 15,279 SH   OTR 1 2 0 15,279 0
METLIFE INC COM 59156R108 400 43,500 SH Call OTR 1 2 0 43,500 0
MIDSOUTH BANCORP INC COM 598039105 1,821 137,426 SH   OTR 1 2 0 137,426 0
MONROE CAP CORP COM 610335101 721 52,438 SH   OTR 1 2 0 52,438 0
MORGAN STANLEY COM NEW 617446448 886 16,879 SH   OTR 1 2 0 16,879 0
MORGAN STANLEY COM NEW 617446448 930 49,800 SH Call OTR 1 2 0 49,800 0
NBT BANCORP INC COM 628778102 1,472 39,997 SH   OTR 1 2 0 39,997 0
NORTHWEST BANCSHARES INC MD COM 667340103 354 21,133 SH   OTR 1 2 0 21,133 0
OHR PHARMACEUTICAL INC COM NEW 67778H200 35 18,715 SH   OTR 1 2 0 18,715 0
OLD SECOND BANCORP INC ILL COM 680277100 273 20,000 SH   OTR 1 2 0 20,000 0
ONE LIBERTY PPTYS INC COM 682406103 870 33,548 SH   OTR 1 2 0 33,548 0
PACIFIC MERCANTILE BANCORP COM 694552100 411 47,000 SH   OTR 1 2 0 47,000 0
PACIFIC PREMIER BANCORP COM 69478X105 400 10,000 SH   OTR 1 2 0 10,000 0
PARAGON COML CORP COM NEW 69911U403 399 7,500 SH   OTR 1 2 0 7,500 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 3,939 112,472 SH   OTR 1 2 0 112,472 0
PFIZER INC COM 717081103 217 5,988 SH   OTR 1 2 0 5,988 0
PFIZER INC COM 717081103 48 10,000 SH Call OTR 1 2 0 10,000 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,548 38,436 SH   OTR 1 2 0 38,436 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 1,147 14,754 SH   OTR 1 2 0 14,754 0
PNC FINL SVCS GROUP INC COM 693475105 5,840 40,474 SH   OTR 1 2 0 40,474 0
POPULAR INC COM NEW 733174700 813 22,904 SH   OTR 1 2 0 22,904 0
PROSPERITY BANCSHARES INC COM 743606105 381 5,435 SH   OTR 1 2 0 5,435 0
PRUDENTIAL FINL INC COM 744320102 409 11,900 SH Call OTR 1 2 0 11,900 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 438 8,500 SH   OTR 1 2 0 8,500 0
RADIUS HEALTH INC COM NEW 750469207 238 7,500 SH   OTR 1 2 0 7,500 0
REGIONS FINL CORP NEW COM 7591EP100 2,897 167,647 SH   OTR 1 2 0 167,647 0
REGIONS FINL CORP NEW COM 7591EP100 317 35,600 SH Call OTR 1 2 0 35,600 0
RITE AID CORP COM 767754104 862 437,373 SH   OTR 1 2 0 437,373 0
RITE AID CORP COM 767754104 0 15,000 SH Call OTR 1 2 0 15,000 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 120 10,751 SH   OTR 1 2 0 10,751 0
SEACOAST BKG CORP FLA COM NEW 811707801 3,510 139,223 SH   OTR 1 2 0 139,223 0
SEAWORLD ENTMT INC COM 81282V100 243 17,900 SH   OTR 1 2 0 17,900 0
SEAWORLD ENTMT INC COM 81282V100 2 13,000 SH Call OTR 1 2 0 13,000 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 399 55,000 SH   OTR 1 2 0 55,000 0
SOUTH ST CORP COM 840441109 3,049 34,984 SH   OTR 1 2 0 34,984 0
SOUTHERN NATL BANCORP OF VA COM 843395104 7,626 475,759 SH   OTR 1 2 0 475,759 0
STATE BK FINL CORP COM 856190103 992 33,236 SH   OTR 1 2 0 33,236 0
STATE STR CORP COM 857477103 594 6,088 SH   OTR 1 2 0 6,088 0
STERLING BANCORP DEL COM 85917A100 3,530 143,500 SH   OTR 1 2 0 143,500 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 242 19,200 SH   OTR 1 2 0 19,200 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 2,004 64,293 SH   OTR 1 2 0 64,293 0
SUNTRUST BKS INC COM 867914103 1,562 24,187 SH   OTR 1 2 0 24,187 0
SUNTRUST BKS INC COM 867914103 240 10,400 SH Call OTR 1 2 0 10,400 0
SYNOVUS FINL CORP COM NEW 87161C501 2,481 51,762 SH   OTR 1 2 0 51,762 0
TERRITORIAL BANCORP INC COM 88145X108 884 28,633 SH   OTR 1 2 0 28,633 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 465 15,129 SH   OTR 1 2 0 15,129 0
TRIANGLE CAP CORP COM 895848109 720 75,887 SH   OTR 1 2 0 75,887 0
UNION BANKSHARES CORP NEW COM 90539J109 684 18,909 SH   OTR 1 2 0 18,909 0
UNITED CMNTY BANCORP IND COM 90984R101 1,130 55,005 SH   OTR 1 2 0 55,005 0
UNITED FINL BANCORP INC NEW COM 910304104 836 47,369 SH   OTR 1 2 0 47,369 0
UNITED PARCEL SERVICE INC CL B 911312106 237 1,993 SH   OTR 1 2 0 1,993 0
US BANCORP DEL COM NEW 902973304 1,301 24,288 SH   OTR 1 2 0 24,288 0
WATERSTONE FINL INC MD COM 94188P101 316 18,556 SH   OTR 1 2 0 18,556 0
WELLS FARGO CO NEW *W EXP 10/28/201 949746119 1,044 37,967 SH   OTR 1 2 0 37,967 0
WELLS FARGO CO NEW COM 949746101 951 64,900 SH Call OTR 1 2 0 64,900 0
XENITH BANKSHARES INC NEW COM NEW 984102202 1,124 33,230 SH   OTR 1 2 0 33,230 0
XL GROUP LTD COM G98294104 316 8,996 SH   OTR 1 2 0 8,996 0
XL GROUP LTD COM G98294104 91 6,800 SH Call OTR 1 2 0 6,800 0
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 534 28,379 SH   OTR 1 2 0 28,379 0
ZIONS BANCORPORATION COM 989701107 333 17,000 SH Call OTR 1 2 0 17,000 0