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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AERCAP HOLDINGS NV SHS N00985106 BBG001SNX4Y4 639,479 10,965 SH   OTR   0 10,965 0
AERCAP HOLDINGS NV SHS N00985106 BBG001SNX4Y4 354,000 30,000 SH Call OTR   0 30,000 0
AMBAC FINL GROUP INC *W EXP 04/30/202 023139116   132,559 65,300 SH   OTR   0 65,300 0
AMBAC FINL GROUP INC COM NEW 023139884 BBG004HQHL91 1,165,359 66,821 SH   OTR   0 66,821 0
AMERANT BANCORP INC CL A 023576101 BBG001V0P1S2 260,026 9,688 SH   OTR   0 9,688 0
AMERICAN NATL BANKSHARES INC COM 027745108 BBG001S7NGV6 382,521 10,358 SH   OTR   0 10,358 0
AMERIS BANCORP COM 03076K108 BBG001S80PX7 693,854 14,719 SH   OTR   0 14,719 0
APPLE INC COM 037833100 BBG001S5N8V8 446,050 3,433 SH   OTR   0 3,433 0
ATLANTIC UN BANKSHARES CORP COM 04911A107 BBG001S7GJV8 2,278,513 64,841 SH   OTR   0 64,841 0
BANC OF CALIFORNIA INC COM 05990K106 BBG001SKZX56 829,172 52,051 SH   OTR   0 52,051 0
BANK AMERICA CORP COM 060505104 BBG001S5P0Y0 39,280,469 1,186,005 SH   OTR   0 1,186,005 0
BANK AMERICA CORP COM 060505104 BBG001S5P0Y0 1,772,496 1,008,400 SH Call OTR   0 1,008,400 0
BANK OF THE JAMES FINL GP IN COM 470299108 BBG001SFGH35 477,948 40,130 SH   OTR   0 40,130 0
BANKUNITED INC COM 06652K103 BBG001T5W6B3 5,094,000 149,956 SH   OTR   0 149,956 0
BAYFIRST FINANCIAL CORP COM 07279B104 BBG001SN12G3 920,887 55,077 SH   OTR   0 55,077 0
BECTON DICKINSON & CO COM 075887109 BBG001S5P374 227,344 894 SH   OTR   0 894 0
CAPITAL ONE FINL CORP COM 14040H105 BBG001S65PV8 614,652 6,612 SH   OTR   0 6,612 0
CAPITAL ONE FINL CORP COM 14040H105 BBG001S65PV8 34,980 13,000 SH Call OTR   0 13,000 0
CB FINL SVCS INC COM 12479G101 BBG001S825Y8 783,759 36,573 SH   OTR   0 36,573 0
CERUS CORP COM 157085101 BBG001S97DG4 1,125,903 308,467 SH   OTR   0 308,467 0
CF BANKSHARES INC COM 12520L109 BBG001S5XSL4 553,476 26,132 SH   OTR   0 26,132 0
CHUBB LIMITED COM H1467J104 BBG001S8S1L3 226,777 1,028 SH   OTR   0 1,028 0
CITIGROUP INC COM NEW 172967424 BBG001S72ZG4 240,351 5,314 SH   OTR   0 5,314 0
CITIGROUP INC COM NEW 172967424 BBG001S72ZG4 181,110 95,700 SH Call OTR   0 95,700 0
CITIZENS FINL GROUP INC COM 174610105 BBG006Q0HZT0 677,203 17,201 SH   OTR   0 17,201 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 BBG001S91FV8 438,439 19,920 SH   OTR   0 19,920 0
CNO FINL GROUP INC COM 12621E103 BBG001SBR6X3 853,105 37,335 SH   OTR   0 37,335 0
CODORUS VY BANCORP INC COM 192025104 BBG001S6YVJ7 704,528 29,602 SH   OTR   0 29,602 0
COLONY BANKCORP INC COM 19623P101 BBG001S98KP7 288,012 22,696 SH   OTR   0 22,696 0
COLUMBIA BKG SYS INC COM 197236102 BBG001S72GJ3 464,966 15,432 SH   OTR   0 15,432 0
COMERICA INC COM 200340107 BBG001S6PXB1 232,170 3,473 SH   OTR   0 3,473 0
COMMUNITY FINL CORP MD COM 20368X101 BBG001S5WL76 385,314 9,657 SH   OTR   0 9,657 0
CONNECTONE BANCORP INC COM 20786W107 BBG001S6YLR0 1,157,064 47,793 SH   OTR   0 47,793 0
DEVON ENERGY CORP NEW COM 25179M103 BBG001S63VG4 436,721 7,100 SH   OTR   0 7,100 0
DIME CMNTY BANCSHARES INC COM 25432X102 BBG001S7NTQ4 1,081,317 33,972 SH   OTR   0 33,972 0
ENTERPRISE FINL SVCS CORP COM 293712105 BBG001SKJVR4 1,009,261 20,614 SH   OTR   0 20,614 0
ESM ACQUISITION CORPORATION *W EXP 02/02/202 G3195H112   2,181 18,750 SH   OTR   0 18,750 0
EXXON MOBIL CORP COM 30231G102 BBG001S69V32 661,800 6,000 SH   OTR   0 6,000 0
FARMLAND PARTNERS INC COM 31154R109 BBG005TNS0R6 186,900 15,000 SH   OTR   0 15,000 0
FB FINL CORP COM 30257X104 BBG00DM434H8 3,383,427 93,620 SH   OTR   0 93,620 0
FIFTH THIRD BANCORP COM 316773100 BBG001S5R6S2 3,058,581 93,221 SH   OTR   0 93,221 0
FIFTH THIRD BANCORP COM 316773100 BBG001S5R6S2 212,770 246,800 SH Call OTR   0 246,800 0
FIRST BANCORP N C COM 318910106 BBG001S5R1Z5 2,955,703 68,994 SH   OTR   0 68,994 0
FIRST BANCSHARES INC MS COM 318916103 BBG001SB73Y1 383,352 11,976 SH   OTR   0 11,976 0
FIRST CMNTY CORP S C COM 319835104 BBG001S9S0F0 644,792 29,456 SH   OTR   0 29,456 0
FIRST GTY BANCSHARES INC COM 32043P106 BBG001SCGLY9 970,971 41,406 SH   OTR   0 41,406 0
GENERAL MTRS CO COM 37045V100 BBG001SM1DK6 39,500 50,000 SH Call OTR   0 50,000 0
HANCOCK WHITNEY CORPORATION COM 410120109 BBG001S6S985 500,788 10,349 SH   OTR   0 10,349 0
HANOVER INS GROUP INC COM 410867105 BBG001S8KZF3 787,267 5,826 SH   OTR   0 5,826 0
HOMETRUST BANCSHARES INC COM 437872104 BBG002CV5WZ9 558,665 23,114 SH   OTR   0 23,114 0
HUNTINGTON BANCSHARES INC COM 446150104 BBG001S5RSZ6 303,629 21,534 SH   OTR   0 21,534 0
HUNTINGTON BANCSHARES INC COM 446150104 BBG001S5RSZ6 246,380 245,400 SH Call OTR   0 245,400 0
INDEPENDENT BK CORP MASS COM 453836108 BBG001S5S8F1 1,812,797 21,471 SH   OTR   0 21,471 0
JPMORGAN CHASE & CO COM 46625H100 BBG001S8CRC3 1,161,306 8,660 SH   OTR   0 8,660 0
JPMORGAN CHASE & CO COM 46625H100 BBG001S8CRC3 11,615 2,300 SH Call OTR   0 2,300 0
KEYCORP COM 493267108 BBG001S5SKV6 468,354 26,886 SH   OTR   0 26,886 0
KEYCORP COM 493267108 BBG001S5SKV6 241,200 131,400 SH Call OTR   0 131,400 0
KINGSTONE COS INC COM 496719105 BBG001SCHWG4 202,740 150,178 SH   OTR   0 150,178 0
LAKELAND BANCORP INC COM 511637100 BBG001S93HH8 1,456,999 82,737 SH   OTR   0 82,737 0
LIMESTONE BANCORP INC COM 53262L105 BBG001SMN2X2 1,172,160 48,000 SH   OTR   0 48,000 0
MACERICH CO COM 554382101 BBG001S7HGB5 225,200 20,000 SH   OTR   0 20,000 0
MACERICH CO COM 554382101 BBG001S7HGB5 3,750 75,000 SH Call OTR   0 75,000 0
MADISON SQUARE GRDN SPRT COR CL A 55825T103 BBG007FG0C32 220,546 1,203 SH   OTR   0 1,203 0
MAINSTREET BANCSHARES INC COM 56064Y100 BBG001SNH4N4 1,101,304 40,062 SH   OTR   0 40,062 0
METLIFE INC COM 59156R108 BBG001S5T3R8 770,451 10,646 SH   OTR   0 10,646 0
METLIFE INC COM 59156R108 BBG001S5T3R8 152,000 10,000 SH Call OTR   0 10,000 0
MID PENN BANCORP INC COM 59540G107 BBG001S5T0G6 432,677 14,437 SH   OTR   0 14,437 0
MORGAN STANLEY COM NEW 617446448 BBG001S9V5Z3 1,205,584 14,180 SH   OTR   0 14,180 0
MR COOPER GROUP INC COM 62482R107 BBG002V09956 1,008,266 25,125 SH   OTR   0 25,125 0
OFG BANCORP COM 67103X102 BBG001S9J8R0 212,019 7,693 SH   OTR   0 7,693 0
OLD NATL BANCORP IND COM 680033107 BBG001SD2ZG1 179,800 10,000 SH   OTR   0 10,000 0
ONCOSEC MED INC COM NOV 2022 68234L405 BBG001SCVQN3 34,942 20,799 SH   OTR   0 20,799 0
OP BANCORP COM 67109R109 BBG001SP9M85 358,314 32,107 SH   OTR   0 32,107 0
PACIFIC PREMIER BANCORP COM 69478X105 BBG001S9JFG6 269,522 8,540 SH   OTR   0 8,540 0
PARTNERS BANCORP COM 70213Q108 BBG001SC8YQ9 97,460 11,000 SH   OTR   0 11,000 0
PAYONEER GLOBAL INC *W EXP 06/25/202 70451X112   10,300 10,000 SH   OTR   0 10,000 0
PEAPACK-GLADSTONE FINL CORP COM 704699107 BBG001SG3CC8 7,067,148 189,875 SH   OTR   0 189,875 0
PINNACLE FINL PARTNERS INC COM 72346Q104 BBG001SF5953 3,290,449 44,829 SH   OTR   0 44,829 0
PNC FINL SVCS GROUP INC COM 693475105 BBG001S5V947 2,859,188 18,103 SH   OTR   0 18,103 0
PNC FINL SVCS GROUP INC COM 693475105 BBG001S5V947 30,360 1,100 SH Call OTR   0 1,100 0
POPULAR INC COM NEW 733174700 BBG001S5PC01 739,999 11,158 SH   OTR   0 11,158 0
PREMIER FINANCIAL CORP COM 74052F108 BBG001S7DV08 1,606,792 59,577 SH   OTR   0 59,577 0
PRIMIS FINANCIAL CORP COM 74167B109 BBG001SPKP12 9,264,721 781,833 SH   OTR   0 781,833 0
PROFESSIONAL HLDG CORP CL A COM 743139107 BBG007NSWGK4 534,688 19,275 SH   OTR   0 19,275 0
PROVIDENT FINL SVCS INC COM 74386T105 BBG001SKM445 976,366 45,710 SH   OTR   0 45,710 0
QCR HOLDINGS INC COM 74727A104 BBG001SJTPZ0 422,039 8,502 SH   OTR   0 8,502 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 BBG001SM4KY2 1,951,627 90,521 SH   OTR   0 90,521 0
REGIONS FINANCIAL CORP NEW COM 7591EP100 BBG001SM4KY2 88,636 142,400 SH Call OTR   0 142,400 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 BBG001S5W0J9 60,974 19,669 SH   OTR   0 19,669 0
SEACOAST BKG CORP FLA COM NEW 811707801 BBG001SD9X60 5,891,541 188,892 SH   OTR   0 188,892 0
SENIOR CONNECT ACQUISITN COR *W EXP 12/31/202 81723H116   1,352 22,500 SH   OTR   0 22,500 0
SHORE BANCSHARES INC COM 825107105 BBG001S9TSK2 1,285,271 73,739 SH   OTR   0 73,739 0
SMARTFINANCIAL INC COM NEW 83190L208 BBG001SDRQW6 6,194,493 225,254 SH   OTR   0 225,254 0
SOUTHERN FIRST BANCSHARES COM 842873101 BBG001SD2Z08 258,945 5,660 SH   OTR   0 5,660 0
SOUTHSTATE CORPORATION COM 840441109 BBG001S9J7Z3 2,155,796 28,232 SH   OTR   0 28,232 0
SUMMIT ST BK SANTA ROSA CALI COM 866264203 BBG001SRFLF8 660,395 41,797 SH   OTR   0 41,797 0
SYNOVUS FINL CORP COM NEW 87161C501 BBG001S5S3G1 11,066,986 294,727 SH   OTR   0 294,727 0
TERRITORIAL BANCORP INC COM 88145X108 BBG001T4JD08 354,172 14,751 SH   OTR   0 14,751 0
THIRD COAST BANCSHARES INC COM 88422P109 BBG009W8YNX3 420,554 22,819 SH   OTR   0 22,819 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 BBG001S5WTN1 834,685 27,065 SH   OTR   0 27,065 0
TRAVELERS COMPANIES INC COM 89417E109 BBG001S5R103 224,988 1,200 SH   OTR   0 1,200 0
TRUIST FINL CORP COM 89832Q109 BBG001S5YYC0 1,705,580 39,637 SH   OTR   0 39,637 0
TRUIST FINL CORP COM 89832Q109 BBG001S5YYC0 11,055 11,200 SH Call OTR   0 11,200 0
TZP STRATEGIES ACQUISTN CORP *W EXP 01/06/202 G91595119   514 21,000 SH   OTR   0 21,000 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 BBG001S9SSJ5 575,682 17,032 SH   OTR   0 17,032 0
UNIVAR SOLUTIONS INC COM 91336L107 BBG001T99J05 260,760 8,200 SH   OTR   0 8,200 0
VIRGINIA NATL BANKSHARES COR COM 928031103 BBG001SBYF92 1,825,191 49,787 SH   OTR   0 49,787 0
WEBSTER FINL CORP COM 947890109 BBG001S5XCP5 3,029,716 63,999 SH   OTR   0 63,999 0
WELLS FARGO CO NEW COM 949746101 BBG001S5XF23 7,817,955 189,343 SH   OTR   0 189,343 0
WELLS FARGO CO NEW COM 949746101 BBG001S5XF23 1,594,290 706,200 SH Call OTR   0 706,200 0
WESBANCO INC COM 950810101 BBG001S5XJR8 355,193 9,605 SH   OTR   0 9,605 0
WSFS FINL CORP COM 929328102 BBG001S5XJX1 1,041,777 22,977 SH   OTR   0 22,977 0