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 2,589 119,028 SH   OTR 1 2 0 119,028 0
ALCENTRA CAP CORP COM 01374T102 857 123,121 SH   OTR 1 2 0 123,121 0
ALLSTATE CORP COM 020002101 697 7,349 SH   OTR 1 2 0 7,349 0
ALLSTATE CORP COM 020002101 105 3,800 SH Call OTR 1 2 0 3,800 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 933 56,878 SH   OTR 1 2 0 56,878 0
AMERICAN INTL GROUP INC COM NEW 026874784 259 5,113 SH   OTR 1 2 0 5,113 0
AMERICAN INTL GROUP INC COM NEW 026874784 84 11,300 SH Call OTR 1 2 0 11,300 0
AMERIS BANCORP COM 03076K108 308 5,829 SH   OTR 1 2 0 5,829 0
APOLLO INVT CORP COM 03761U106 689 130,000 SH   OTR 1 2 0 130,000 0
APPLE INC COM 037833100 289 1,722 SH   OTR 1 2 0 1,722 0
ARALEZ PHARMACEUTICALS INC COM 03852X100 330 220,153 SH   OTR 1 2 0 220,153 0
ARBOR RLTY TR INC COM 038923108 2,109 239,059 SH   OTR 1 2 0 239,059 0
AT&T INC COM 00206R102 613 17,200 SH   OTR 1 2 0 17,200 0
AT&T INC COM 00206R102 33 10,000 SH Call OTR 1 2 0 10,000 0
ATLANTIC COAST FINL CORP COM 048426100 1,887 183,180 SH   OTR 1 2 0 183,180 0
BANC OF CALIFORNIA INC COM 05990K106 778 40,286 SH   OTR 1 2 0 40,286 0
BANK AMER CORP *W EXP 01/16/201 060505146 4,532 249,437 SH   OTR 1 2 0 249,437 0
BANK AMER CORP COM 060505104 51,152 1,705,636 SH   OTR 1 2 0 1,705,636 0
BANK AMER CORP COM 060505104 2,340 458,600 SH Call OTR 1 2 0 458,600 0
BANK COMM HLDGS COM 06424J103 260 22,300 SH   OTR 1 2 0 22,300 0
BANK NEW YORK MELLON CORP COM 064058100 523 38,800 SH Call OTR 1 2 0 38,800 0
BANK NEW YORK MELLON CORP COM 064058100 103 2,005 SH   OTR 1 2 0 2,005 0
BAY BANCORP INC COM 07203T106 517 38,698 SH   OTR 1 2 0 38,698 0
BB&T CORP COM 054937107 3,292 63,265 SH   OTR 1 2 0 63,265 0
BB&T CORP COM 054937107 785 57,300 SH Call OTR 1 2 0 57,300 0
BECTON DICKINSON & CO COM 075887109 302 1,394 SH   OTR 1 2 0 1,394 0
BENEFICIAL BANCORP INC COM 08171T102 965 62,077 SH   OTR 1 2 0 62,077 0
BIOSCRIP INC COM 09069N108 84 34,075 SH   OTR 1 2 0 34,075 0
BRISTOL MYERS SQUIBB CO COM 110122108 97 6,700 SH Call OTR 1 2 0 6,700 0
BRISTOL MYERS SQUIBB CO COM 110122108 176 2,788 SH   OTR 1 2 0 2,788 0
BROOKLINE BANCORP INC DEL COM 11373M107 494 30,496 SH   OTR 1 2 0 30,496 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 6,402 119,210 SH   OTR 1 2 0 119,210 0
CAPITAL ONE FINL CORP COM 14040H105 2,169 22,639 SH   OTR 1 2 0 22,639 0
CB FINL SVCS INC COM 12479G101 909 29,273 SH   OTR 1 2 0 29,273 0
CERUS CORP COM 157085101 2,355 429,762 SH   OTR 1 2 0 429,439 0
CHEMICAL FINL CORP COM 163731102 604 11,050 SH   OTR 1 2 0 11,050 0
CHUBB LIMITED COM H1467J104 223 1,628 SH   OTR 1 2 0 1,628 0
CIT GROUP INC COM NEW 125581801 1,253 24,340 SH   OTR 1 2 0 24,340 0
CIT GROUP INC COM NEW 125581801 226 13,000 SH Call OTR 1 2 0 13,000 0
CITIGROUP INC COM NEW 172967424 1,478 63,500 SH Call OTR 1 2 0 63,500 0
CITIGROUP INC COM NEW 172967424 1,160 17,174 SH   OTR 1 2 0 17,174 0
CITIZENS FINL GROUP INC COM 174610105 498 11,852 SH   OTR 1 2 0 11,852 0
CITIZENS FIRST CORP COM 17462Q107 508 20,000 SH   OTR 1 2 0 20,000 0
CLIFTON BANCORP INC COM 186873105 202 12,933 SH   OTR 1 2 0 12,933 0
CNO FINL GROUP INC COM 12621E103 4,212 194,348 SH   OTR 1 2 0 194,348 0
COASTWAY BANCORP INC COM 190632109 273 10,000 SH   OTR 1 2 0 10,000 0
COLUMBIA BKG SYS INC COM 197236102 235 5,603 SH   OTR 1 2 0 5,603 0
COMERICA INC *W EXP 11/14/201 200340115 7,574 114,763 SH   OTR 1 2 0 114,763 0
COMERICA INC COM 200340107 2,019 21,050 SH   OTR 1 2 0 21,050 0
CONNECTONE BANCORP INC NEW COM 20786W107 843 29,283 SH   OTR 1 2 0 29,283 0
COWEN INC CL A NEW 223622606 7,133 540,400 SH   OTR 1 2 0 540,400 0
CROCS INC COM 227046109 414 25,492 SH   OTR 1 2 0 25,492 0
DIME CMNTY BANCSHARES COM 253922108 1,439 78,200 SH   OTR 1 2 0 78,200 0
DISCOVER FINL SVCS COM 254709108 450 6,258 SH   OTR 1 2 0 6,258 0
DISCOVER FINL SVCS COM 254709108 316 14,600 SH Call OTR 1 2 0 14,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,283 27,350 SH   OTR 1 2 0 27,350 0
ESSA BANCORP INC COM 29667D104 1,200 81,826 SH   OTR 1 2 0 81,826 0
FACEBOOK INC CL A 30303M102 879 5,500 SH   OTR 1 2 0 5,500 0
FAUQUIER BANKSHARES INC VA COM 312059108 983 46,781 SH   OTR 1 2 0 46,781 0
FIDELITY SOUTHERN CORP NEW COM 316394105 245 10,622 SH   OTR 1 2 0 10,622 0
FIDUS INVT CORP COM 316500107 265 20,600 SH   OTR 1 2 0 20,600 0
FIFTH THIRD BANCORP COM 316773100 3,194 100,609 SH   OTR 1 2 0 100,609 0
FIFTH THIRD BANCORP COM 316773100 144 14,400 SH Call OTR 1 2 0 14,400 0
FIRST CMNTY CORP S C COM 319835104 309 13,500 SH   OTR 1 2 0 13,500 0
FIRST DEFIANCE FINL CORP COM 32006W106 970 16,928 SH   OTR 1 2 0 16,928 0
FIRST GTY BANCSHARES INC COM 32043P106 1,586 61,020 SH   OTR 1 2 0 61,020 0
FNB CORP PA COM 302520101 136 10,105 SH   OTR 1 2 0 10,105 0
FRANKLIN FINL NETWORK INC COM 35352P104 5,158 158,216 SH   OTR 1 2 0 158,216 0
GENERAL ELECTRIC CO COM 369604103 3 41,500 SH Call OTR 1 2 0 41,500 0
GENIE ENERGY LTD CL B 372284208 132 26,380 SH   OTR 1 2 0 26,380 0
GOLDMAN SACHS BDC INC SHS 38147U107 959 50,128 SH   OTR 1 2 0 50,128 0
GUARANTY FED BANCSHARES INC COM 40108P101 352 15,000 SH   OTR 1 2 0 15,000 0
HANCOCK HLDG CO COM 410120109 3,088 59,736 SH   OTR 1 2 0 59,736 0
HANESBRANDS INC COM 410345102 31 10,000 SH Call OTR 1 2 0 10,000 0
HANESBRANDS INC COM 410345102 184 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 1,509 12,804 SH   OTR 1 2 0 12,804 0
HARBORONE BANCORP INC COM 41165F101 546 30,905 SH   OTR 1 2 0 30,905 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 2,453 53,218 SH   OTR 1 2 0 53,218 0
HERCULES CAPITAL INC COM 427096508 242 20,000 SH   OTR 1 2 0 20,000 0
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 106 10,000 SH   OTR 1 2 0 10,000 0
HOMETOWN BANKSHARES CORP COM 43787N108 298 24,960 SH   OTR 1 2 0 24,960 0
HOMETRUST BANCSHARES INC COM 437872104 261 10,000 SH   OTR 1 2 0 10,000 0
HOPE BANCORP INC COM 43940T109 363 19,981 SH   OTR 1 2 0 19,981 0
HUNTINGTON BANCSHARES INC COM 446150104 553 36,612 SH   OTR 1 2 0 36,612 0
IMPAC MTG HLDGS INC COM NEW 45254P508 1,292 163,492 SH   OTR 1 2 0 163,492 0
INVESTORS BANCORP INC NEW COM 46146L101 390 28,591 SH   OTR 1 2 0 28,591 0
ISHARES TR US REGNL BKS ETF 464288778 236 4,683 SH   OTR 1 2 0 4,683 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 11,775 169,298 SH   OTR 1 2 0 169,298 0
JPMORGAN CHASE & CO COM 46625H100 3,551 32,289 SH   OTR 1 2 0 32,289 0
JPMORGAN CHASE & CO COM 46625H100 3,212 86,300 SH Call OTR 1 2 0 86,300 0
KEARNY FINL CORP MD COM 48716P108 314 24,130 SH   OTR 1 2 0 24,130 0
KEYCORP NEW COM 493267108 3,462 177,092 SH   OTR 1 2 0 177,092 0
KEYCORP NEW COM 493267108 340 49,400 SH Call OTR 1 2 0 49,400 0
KINGSTONE COS INC COM 496719105 995 59,204 SH   OTR 1 2 0 59,204 0
KKR & CO L P DEL COM UNITS 48248M102 467 23,000 SH   OTR 1 2 0 23,000 0
LEADING BRANDS INC COM NEW 52170U207 233 187,571 SH   OTR 1 2 0 187,571 0
LEGG MASON INC COM 524901105 332 8,169 SH   OTR 1 2 0 8,169 0
LENNAR CORP CL A 526057104 329 5,576 SH   OTR 1 2 0 5,576 0
LINCOLN NATL CORP IND COM 534187109 481 6,587 SH   OTR 1 2 0 6,587 0
LYDALL INC DEL COM 550819106 241 5,000 SH   OTR 1 2 0 5,000 0
M & T BK CORP *W EXP 12/23/201 55261F112 10,522 96,457 SH   OTR 1 2 0 96,457 0
M & T BK CORP COM 55261F104 2,205 11,960 SH   OTR 1 2 0 11,960 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 299 1,216 SH   OTR 1 2 0 1,216 0
MAIDEN HOLDINGS LTD SHS G5753U112 738 113,493 SH   OTR 1 2 0 113,493 0
MB FINANCIAL INC NEW COM 55264U108 6,282 155,186 SH   OTR 1 2 0 155,186 0
MERIDIAN BANCORP INC MD COM 58958U103 4,253 211,051 SH   OTR 1 2 0 211,051 0
METLIFE INC COM 59156R108 701 15,279 SH   OTR 1 2 0 15,279 0
METLIFE INC COM 59156R108 368 56,500 SH Call OTR 1 2 0 56,500 0
MIDSOUTH BANCORP INC COM 598039105 1,743 137,754 SH   OTR 1 2 0 137,754 0
MONROE CAP CORP COM 610335101 645 52,438 SH   OTR 1 2 0 52,438 0
MORGAN STANLEY COM NEW 617446448 911 16,879 SH   OTR 1 2 0 16,879 0
MORGAN STANLEY COM NEW 617446448 1,047 49,800 SH Call OTR 1 2 0 49,800 0
NBT BANCORP INC COM 628778102 1,419 39,997 SH   OTR 1 2 0 39,997 0
NEWELL BRANDS INC COM 651229106 690 27,090 SH   OTR 1 2 0 27,090 0
NEWELL BRANDS INC COM 651229106 27 8,000 SH Call OTR 1 2 0 8,000 0
OLD SECOND BANCORP INC ILL COM 680277100 278 20,000 SH   OTR 1 2 0 20,000 0
ONE LIBERTY PPTYS INC COM 682406103 741 33,548 SH   OTR 1 2 0 33,548 0
PACIFIC MERCANTILE BANCORP COM 694552100 449 47,000 SH   OTR 1 2 0 47,000 0
PACIFIC PREMIER BANCORP COM 69478X105 362 9,000 SH   OTR 1 2 0 9,000 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 3,755 112,472 SH   OTR 1 2 0 112,472 0
PFIZER INC COM 717081103 213 5,988 SH   OTR 1 2 0 5,988 0
PFIZER INC COM 717081103 44 10,000 SH Call OTR 1 2 0 10,000 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,468 38,436 SH   OTR 1 2 0 38,436 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 1,240 14,754 SH   OTR 1 2 0 14,754 0
PNC FINL SVCS GROUP INC COM 693475105 6,121 40,474 SH   OTR 1 2 0 40,474 0
POPULAR INC COM NEW 733174700 660 15,863 SH   OTR 1 2 0 15,863 0
PROSPERITY BANCSHARES INC COM 743606105 395 5,435 SH   OTR 1 2 0 5,435 0
PRUDENTIAL FINL INC COM 744320102 308 11,900 SH Call OTR 1 2 0 11,900 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 427 8,500 SH   OTR 1 2 0 8,500 0
RADIUS HEALTH INC COM NEW 750469207 270 7,500 SH   OTR 1 2 0 7,500 0
RADIUS HEALTH INC COM NEW 750469207 27 3,700 SH Call OTR 1 2 0 3,700 0
REGIONS FINL CORP NEW COM 7591EP100 3,115 167,647 SH   OTR 1 2 0 167,647 0
REGIONS FINL CORP NEW COM 7591EP100 306 45,900 SH Call OTR 1 2 0 45,900 0
RITE AID CORP COM 767754104 1,239 737,373 SH   OTR 1 2 0 737,373 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 240 19,596 SH   OTR 1 2 0 19,596 0
SEACOAST BKG CORP FLA COM NEW 811707801 3,685 139,223 SH   OTR 1 2 0 139,223 0
SEAWORLD ENTMT INC COM 81282V100 265 17,900 SH   OTR 1 2 0 17,900 0
SELECT BANCORP INC NEW COM 81617L108 404 30,270 SH   OTR 1 2 0 30,270 0
SELECT ENERGY SVCS INC CL A COM 81617J301 126 10,000 SH   OTR 1 2 0 10,000 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 612 85,000 SH   OTR 1 2 0 85,000 0
SMARTFINANCIAL INC COM NEW 83190L208 326 13,818 SH   OTR 1 2 0 13,818 0
SOUTH ST CORP COM 840441109 2,984 34,984 SH   OTR 1 2 0 34,984 0
SOUTHERN NATL BANCORP OF VA COM 843395104 7,536 475,759 SH   OTR 1 2 0 475,759 0
STATE BK FINL CORP COM 856190103 997 33,236 SH   OTR 1 2 0 33,236 0
STATE STR CORP COM 857477103 607 6,088 SH   OTR 1 2 0 6,088 0
STERLING BANCORP DEL COM 85917A100 3,236 143,500 SH   OTR 1 2 0 143,500 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 259 19,200 SH   OTR 1 2 0 19,200 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 2,267 64,293 SH   OTR 1 2 0 64,293 0
SUNTRUST BKS INC COM 867914103 1,646 24,187 SH   OTR 1 2 0 24,187 0
SUNTRUST BKS INC COM 867914103 286 10,400 SH Call OTR 1 2 0 10,400 0
SUPERVALU INC COM NEW 868536301 690 45,324 SH   OTR 1 2 0 45,324 0
SYNOVUS FINL CORP COM NEW 87161C501 2,585 51,762 SH   OTR 1 2 0 51,762 0
TERRITORIAL BANCORP INC COM 88145X108 849 28,633 SH   OTR 1 2 0 28,633 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 803 28,065 SH   OTR 1 2 0 28,065 0
TRIANGLE CAP CORP COM 895848109 862 77,387 SH   OTR 1 2 0 77,387 0
UNION BANKSHARES CORP NEW COM 90539J109 1,835 49,982 SH   OTR 1 2 0 49,982 0
UNITED CMNTY BANCORP IND COM 90984R101 1,404 55,709 SH   OTR 1 2 0 55,709 0
UNITED PARCEL SERVICE INC CL B 911312106 209 1,993 SH   OTR 1 2 0 1,993 0
UNITED PARCEL SERVICE INC CL B 911312106 54 2,000 SH Call OTR 1 2 0 2,000 0
US BANCORP DEL COM NEW 902973304 1,227 24,288 SH   OTR 1 2 0 24,288 0
WATERSTONE FINL INC MD COM 94188P101 321 18,556 SH   OTR 1 2 0 18,556 0
WELLS FARGO CO NEW *W EXP 10/28/201 949746119 768 39,967 SH   OTR 1 2 0 39,967 0
WELLS FARGO CO NEW COM 949746101 487 64,900 SH Call OTR 1 2 0 64,900 0
XL GROUP LTD COM G98294104 229 6,800 SH Call OTR 1 2 0 6,800 0
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 576 28,379 SH   OTR 1 2 0 28,379 0
ZIONS BANCORPORATION COM 989701107 349 17,000 SH Call OTR 1 2 0 17,000 0