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
AFLAC INC COM 001055102 5,678 132,000 SH Put OTR 35 0 0 132,000
AMERICAN EXPRESS CO COM 025816109 6,468 66,000 SH Put OTR 35 0 0 66,000
AMERIS BANCORP COM 03076K108 1,362 25,525 SH   OTR 34 0 0 25,525
AMERIS BANCORP COM 03076K108 20,972 393,107 SH   OTR 35 0 0 393,107
ARES MGMT LP COM SHS REG INT 04014y101 18,485 893,003 SH   OTR 35 0 0 893,003
ATLANTIC CAP BANCSHARES INC COM 048269203 624 31,752 SH   OTR 34 0 0 31,752
ATLANTIC CAP BANCSHARES INC COM 048269203 28,311 1,440,743 SH   OTR 35 0 0 1,440,743
BANC OF CALIFORNIA INC COM 05990k106 7,650 391,306 SH   OTR 35 0 0 391,306
BANCORP 34 INC COM 05970V106 1,184 78,690 SH   OTR 34 0 0 78,690
BANK AMER CORP COM 060505104 5,655 200,600 SH   OTR 35 0 0 200,600
BANK NEW YORK MELLON CORP COM 064058100 5,339 99,000 SH Put OTR 35 0 0 99,000
BANKUNITED INC COM 06652K103 12,292 300,908 SH   OTR 35 0 0 300,908
BAYCOM CORP COM 07272M107 1,058 42,766 SH   OTR 34 0 0 42,766
BUSINESS FIRST BANCSHARES IN COM 12326C105 213 8,077 SH   OTR 34 0 0 8,077
BYLINE BANCORP INC COM 124411109 11,337 507,467 SH   OTR 35 0 0 507,467
CADENCE BANCORPORATION CL A 12739A100 1,292 44,740 SH   OTR 35 0 0 44,740
CAPITAL ONE FINL CORP COM 14040H105 6,065 66,000 SH Put OTR 35 0 0 66,000
CAROLINA FINL CORP NEW COM 143873107 17,917 417,457 SH   OTR 35 0 0 417,457
CBTX INC COM 12481V104 1,234 37,340 SH   OTR 34 0 0 37,340
CENTERSTATE BK CORP COM 15201P109 12,199 409,104 SH   OTR 35 0 0 409,104
CITIGROUP INC COM NEW 172967424 8,833 132,000 SH Put OTR 35 0 0 132,000
CITIZENS FINL GROUP INC COM 174610105 9,725 250,000 SH   OTR 35 0 0 250,000
CIVISTA BANCSHARES INC COM NO PAR 178867107 892 36,809 SH   OTR 34 0 0 36,809
CIVISTA BANCSHARES INC COM NO PAR 178867107 2,483 102,415 SH   OTR 35 0 0 102,415
COBIZ FINANCIAL INC COM 190897108 6,998 325,782 SH   OTR 35 0 0 325,782
COMMUNITY BANKERS TR CORP COM 203612106 1,221 136,379 SH   OTR 34 0 0 136,379
CONNECTONE BANCORP INC NEW COM 20786w107 6,302 253,091 SH   OTR 35 0 0 253,091
COWEN INC CL A NEW 223622606 10,067 726,850 SH   OTR 35 0 0 726,850
E TRADE FINANCIAL CORP COM NEW 269246401 12,232 200,000 SH   OTR 35 0 0 200,000
EQUITY BANCSHARES INC COM CL A 29460x109 21,884 527,587 SH   OTR 35 0 0 527,587
ESQUIRE FINL HLDGS INC COM 29667J101 1,077 40,826 SH   OTR 34 0 0 40,826
EVANS BANCORP INC COM NEW 29911Q208 4,179 90,644 SH   OTR 35 0 0 90,644
FAR PT ACQUISITION CORP UNIT 06/01/2025 30734W208 14,050 1,378,850 SH   OTR 35 0 0 1,378,850
FB FINL CORP COM 30257x104 82,324 2,021,698 SH   OTR 35 0 0 2,021,698
FIDELITY SOUTHERN CORP NEW COM 316394105 21,604 850,217 SH   OTR 35 0 0 850,217
FIRST BANCORP N C COM 318910106 660 16,139 SH   OTR 34 0 0 16,139
FIRST BANCORP N C COM 318910106 37,995 928,750 SH   OTR 35 0 0 928,750
FIRST BANCSHARES INC MS COM 318916103 327 9,084 SH   OTR 34 0 0 9,084
FIRST BANCSHARES INC MS COM 318916103 16,305 453,544 SH   OTR 35 0 0 453,544
FIRST CMNTY CORP S C COM 319835104 812 32,367 SH   OTR 34 0 0 32,367
FIRST CMNTY CORP S C COM 319835104 5,950 237,065 SH   OTR 35 0 0 237,065
FIRST FNDTN INC COM 32026V104 656 35,384 SH   OTR 34 0 0 35,384
FIRST FNDTN INC COM 32026V104 21,712 1,171,090 SH   OTR 35 0 0 1,171,090
FIRST INTST BANCSYSTEM INC COM CL A 32055y201 4,220 100,000 SH   OTR 35 0 0 100,000
FSB BANCORP INC COM 30289C102 305 17,177 SH   OTR 34 0 0 17,177
GREEN BANCORP INC COM 39260x100 5,575 258,111 SH   OTR 35 0 0 258,111
GUARANTY BANCORP DEL COM NEW 40075T607 8,940 300,000 SH   OTR 35 0 0 300,000
GUARANTY BANCSHARES INC TEX COM 400764106 730 22,168 SH   OTR 34 0 0 22,168
HARTFORD FINL SVCS GROUP INC COM 416515104 3,375 66,000 SH Put OTR 35 0 0 66,000
HOME BANCSHARES INC COM 436893200 9,024 400,000 SH   OTR 35 0 0 400,000
HOWARD BANCORP INC COM 442496105 1,134 62,983 SH   OTR 34 0 0 62,983
HOWARD BANCORP INC COM 442496105 11,871 659,486 SH   OTR 35 0 0 659,486
HUNTINGTON BANCSHARES INC COM 446150104 1,472 99,700 SH Call OTR 35 0 0 99,700
IBERIABANK CORP COM 450828108 11,370 150,000 SH   OTR 35 0 0 150,000
INDEPENDENT BK GROUP INC COM 45384B106 36,243 542,554 SH   OTR 35 0 0 542,554
INVESTAR HLDG CORP COM 46134L105 617 22,309 SH   OTR 34 0 0 22,309
INVESTORS BANCORP INC NEW COM 46146L101 5,092 398,101 SH   OTR 35 0 0 398,101
ISHARES TR IBOXX HI YD ETF 464288513 14,038 165,000 SH Put OTR 35 0 0 165,000
ISHARES TR MSCI EMG MKT ETF 464287234 20,020 462,000 SH Put OTR 35 0 0 462,000
ISHARES TR RUSSELL 2000 ETF 464287655 32,425 198,000 SH Put OTR 35 0 0 198,000
JPMORGAN CHASE & CO COM 46625h100 6,878 66,000 SH Put OTR 35 0 0 66,000
KEYCORP NEW COM 493267108 13,678 700,000 SH   OTR 35 0 0 700,000
LAKELAND BANCORP INC COM 511637100 6,947 350,000 SH   OTR 35 0 0 350,000
LEGACY TEX FINL GROUP INC COM 52471y106 2,734 70,074 SH   OTR 35 0 0 70,074
LIVE OAK BANCSHARES INC COM 53803x105 31,971 1,043,096 SH   OTR 35 0 0 1,043,096
M & T BK CORP *W EXP 12/23/201 55261F112 3,852 40,000 SH   OTR 35 0 0 40,000
MACKINAC FINL CORP COM 554571109 340 20,518 SH   OTR 34 0 0 20,518
MANNING & NAPIER INC CL A 56382q102 2,801 903,497 SH   OTR 35 0 0 903,497
MASTERCARD INCORPORATED CL A 57636Q104 12,970 66,000 SH Put OTR 35 0 0 66,000
MELROSE BANCORP INC COM 585553100 231 11,756 SH   OTR 34 0 0 11,756
METLIFE INC COM 59156r108 2,878 66,000 SH Put OTR 35 0 0 66,000
MIDSOUTH BANCORP INC COM 598039105 8,308 627,045 SH   OTR 35 0 0 627,045
MIDSOUTH BANCORP INC COM 598039105 657 49,600 SH   OTR 34 0 0 49,600
MORGAN STANLEY COM NEW 617446448 6,256 132,000 SH Put OTR 35 0 0 132,000
OCEANFIRST FINL CORP COM 675234108 10,656 355,680 SH   OTR 35 0 0 355,680
OLD LINE BANCSHARES INC COM 67984m100 18,103 518,574 SH   OTR 35 0 0 518,574
OPUS BK IRVINE CALIF COM 684000102 29,019 1,011,115 SH   OTR 35 0 0 1,011,115
PACIFIC PREMIER BANCORP COM 69478x105 7,630 200,000 SH   OTR 35 0 0 200,000
PACWEST BANCORP DEL COM 695263103 9,472 191,670 SH   OTR 35 0 0 191,670
PB BANCORP INC COM 70454T100 1,110 97,822 SH   OTR 34 0 0 97,822
PEAPACK-GLADSTONE FINL CORP COM 704699107 7,948 229,770 SH   OTR 35 0 0 229,770
PERFORMANT FINL CORP COM 71377e105 692 322,031 SH   OTR 35 0 0 322,031
PINNACLE FINL PARTNERS INC COM 72346Q104 26,909 438,610 SH   OTR 35 0 0 438,610
REGIONS FINL CORP NEW COM 7591ep100 13,335 750,000 SH   OTR 35 0 0 750,000
REGIONS FINL CORP NEW COM 7591ep100 5,318 299,100 SH Call OTR 35 0 0 299,100
SB ONE BANCORP COM 78413T103 4,766 160,478 SH   OTR 35 0 0 160,478
SCHWAB CHARLES CORP NEW COM 808513105 3,373 66,000 SH Put OTR 35 0 0 66,000
SEACOAST BKG CORP FLA COM NEW 811707801 17,708 560,739 SH   OTR 35 0 0 560,739
SELECT BANCORP INC NEW COM 81617L108 648 48,080 SH   OTR 35 0 0 48,080
SELECT BANCORP INC NEW COM 81617L108 650 48,289 SH   OTR 34 0 0 48,289
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 12,285 462,000 SH Put OTR 35 0 0 462,000
SI FINL GROUP INC MD COM 78425V104 507 34,400 SH   OTR 34 0 0 34,400
SIGNATURE BK NEW YORK N Y COM 82669g104 2,076 16,234 SH   OTR 35 0 0 16,234
SILVERCREST ASSET MGMT GROUP CL A 828359109 9,381 575,530 SH   OTR 35 0 0 575,530
SOUTH ST CORP COM 840441109 28,991 336,129 SH   OTR 35 0 0 336,129
SOUTHERN FIRST BANCSHARES IN COM 842873101 12,696 287,242 SH   OTR 35 0 0 287,242
SOUTHERN NATL BANCORP OF VA COM 843395104 360 20,195 SH   OTR 34 0 0 20,195
SOUTHERN NATL BANCORP OF VA COM 843395104 5,134 287,790 SH   OTR 35 0 0 287,790
SPDR S&P 500 ETF TR TR UNIT 78462F103 53,712 198,000 SH Put OTR 35 0 0 198,000
SPDR SERIES TRUST S&P BK ETF 78464a797 6,226 132,000 SH Put OTR 35 0 0 132,000
SPDR SERIES TRUST S&P REGL BKG 78464a698 16,104 264,000 SH Put OTR 35 0 0 264,000
SPIRIT OF TEX BANCSHARES INC COM 84861D103 409 19,847 SH   OTR 34 0 0 19,847
SYNCHRONY FINL COM 87165B103 4,406 132,000 SH Put OTR 35 0 0 132,000
SYNOVUS FINL CORP COM NEW 87161c501 5,283 100,000 SH   OTR 35 0 0 100,000
TD AMERITRADE HLDG CORP COM 87236Y108 3,614 66,000 SH Put OTR 35 0 0 66,000
TOWNEBANK PORTSMOUTH VA COM 89214p109 3,210 100,000 SH   OTR 35 0 0 100,000
TRIUMPH BANCORP INC COM 89679E300 2,502 61,400 SH   OTR 34 0 0 61,400
TRIUMPH BANCORP INC COM 89679E300 61,345 1,505,404 SH   OTR 35 0 0 1,505,404
UNITED CMNTY BANCORP IND COM 90984R101 1,484 54,555 SH   OTR 34 0 0 54,555
UNITED CMNTY BKS BLAIRSVLE G COM 90984p303 3,158 102,959 SH   OTR 35 0 0 102,959
UNITED FINL BANCORP INC NEW COM 910304104 637 36,344 SH   OTR 34 0 0 36,344
UNITED FINL BANCORP INC NEW COM 910304104 19,922 1,137,111 SH   OTR 35 0 0 1,137,111
US BANCORP DEL COM NEW 902973304 6,602 132,000 SH Put OTR 35 0 0 132,000
VALLEY NATL BANCORP COM 919794107 9,120 750,000 SH   OTR 35 0 0 750,000
VERITEX HLDGS INC COM 923451108 14,559 468,578 SH   OTR 35 0 0 468,578
VISA INC COM CL A 92826c839 8,742 66,000 SH Put OTR 35 0 0 66,000
WELLS FARGO CO NEW COM 949746101 7,318 132,000 SH Put OTR 35 0 0 132,000
WESTERN NEW ENG BANCORP INC COM 958892101 9,895 899,523 SH   OTR 35 0 0 899,523