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
ABBOTT LABS COM 002824100 920 22,000 SH   SOLE 0 22,000 0 0
ABBVIE INC COM 00287Y109 1,257 22,000 SH   SOLE 0 22,000 0 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 5,256 150,440 SH   SOLE 0 150,440 0 0
AMERICAN CAP LTD COM 02503Y103 328 1,800 SH Call SOLE 0 0 0 0
AMERICAN CAP LTD COM 02503Y103 579 38,000 SH   SOLE 0 38,000 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 1,633 87,633 SH   SOLE 0 87,633 0 0
AMERICAN EXPRESS CO COM 025816109 1,842 30,000 SH   SOLE 0 30,000 0 0
AMERICAN EXPRESS CO COM 025816109 142 300 SH Put SOLE 0 300 0 0
ANNALY CAP MGMT INC COM 035710409 13,972 1,361,822 SH   SOLE 0 1,361,822 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 6,345 389,286 SH   SOLE 0 389,286 0 0
APOLLO INVT CORP COM 03761U106 448 80,800 SH   SOLE 0 80,800 0 0
APPLE INC COM 037833100 1,440 1,500 SH Call SOLE 0 0 0 0
ARES CAP CORP COM 04010L103 205 13,800 SH   SOLE 0 13,800 0 0
BARRICK GOLD CORP COM 067901108 7,906 582,197 SH   SOLE 0 582,197 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 2,988 111,249 SH   SOLE 0 111,249 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 734 49,796 SH   SOLE 0 49,796 0 0
BROOKDALE SR LIVING INC COM 112463104 195 600 SH Call SOLE 0 0 0 0
BROOKDALE SR LIVING INC COM 112463104 12,878 810,940 SH   SOLE 0 810,940 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 1,832 26,963 SH   SOLE 0 26,963 0 0
CALUMET SPECIALTY PRODS PTNR UT LTD PARTNER 131476103 817 69,547 SH   SOLE 0 69,547 0 0
CHIMERA INVT CORP COM NEW 16934Q208 58,354 4,293,875 SH   SOLE 0 4,293,875 0 0
CISCO SYS INC COM 17275R102 3,416 120,000 SH   SOLE 0 120,000 0 0
CITIGROUP INC COM NEW 172967424 3,315 79,400 SH   SOLE 0 79,400 0 0
CITIZENS FINL GROUP INC COM 174610105 503 24,000 SH   SOLE 0 24,000 0 0
COLONY STARWOOD HOMES COM 19625X102 553 22,350 SH   SOLE 0 22,350 0 0
COMCAST CORP NEW CL A 20030N101 3,665 60,000 SH   SOLE 0 60,000 0 0
CONOCOPHILLIPS COM 20825C104 290 7,200 SH   SOLE 0 7,200 0 0
CORNING INC COM 219350105 246 1,500 SH Call SOLE 0 0 0 0
CYS INVTS INC COM 12673A108 17,416 2,139,532 SH   SOLE 0 2,139,532 0 0
DOW CHEM CO COM 260543103 2,289 45,000 SH   SOLE 0 45,000 0 0
E M C CORP MASS COM 268648102 1,066 40,000 SH   SOLE 0 40,000 0 0
EATON VANCE MUN BD FD COM 27827X101 339 25,500 SH   SOLE 0 25,500 0 0
ELLINGTON FINANCIAL LLC COM 288522303 7,706 442,344 SH   SOLE 0 442,344 0 0
ELLINGTON RESIDENTIAL MTG RE COM SHS BEN INT 288578107 438 36,573 SH   SOLE 0 36,573 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 1,985 61,380 SH   SOLE 0 61,380 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 16,718 679,022 SH   SOLE 0 679,022 0 0
EPR PPTYS COM SH BEN INT 26884U109 293 4,400 SH   SOLE 0 4,400 0 0
EXELON CORP COM 30161N101 2,510 70,000 SH   SOLE 0 70,000 0 0
EXXON MOBIL CORP COM 30231G102 1,943 23,240 SH   SOLE 0 23,240 0 0
FACTORSHARES TR ISE CYBER SEC 30304R407 2,795 116,600 SH   SOLE 0 116,600 0 0
FIDUS INVT CORP COM 316500107 3,833 247,129 SH   SOLE 0 247,129 0 0
FIFTH STREET FINANCE CORP COM 31678A103 200 40,000 SH   SOLE 0 40,000 0 0
FIREEYE INC COM 31816Q101 2,155 119,800 SH   SOLE 0 119,800 0 0
FIRST SOLAR INC COM 336433107 543 400 SH Call SOLE 0 0 0 0
FS INVT CORP COM 302635107 831 90,600 SH   SOLE 0 90,600 0 0
GENERAL ELECTRIC CO COM 369604103 2,542 79,952 SH   SOLE 0 79,952 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 615 20,719 SH   SOLE 0 20,719 0 0
GENERAL MTRS CO COM 37045V100 2,467 78,479 SH   SOLE 0 78,479 0 0
GOLDMAN SACHS BDC INC SHS 38147U107 4,800 244,902 SH   SOLE 0 244,902 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 10,894 69,400 SH   SOLE 0 69,400 0 0
HERCULES CAPITAL INC COM 427096508 1,711 142,502 SH   SOLE 0 142,502 0 0
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 50 10,000 SH   SOLE 0 10,000 0 0
HORIZON TECHNOLOGY FIN CORP COM 44045A102 2,396 206,354 SH   SOLE 0 206,354 0 0
INVESCO ADVANTAGE MUNICIPAL SH BEN INT 46132E103 351 28,300 SH   SOLE 0 28,300 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 741 60,834 SH   SOLE 0 60,834 0 0
INVESCO MUN OPPORTUNITY TR COM 46132C107 388 27,800 SH   SOLE 0 27,800 0 0
INVESCO MUN TR COM 46131J103 358 26,900 SH   SOLE 0 26,900 0 0
INVESCO QUALITY MUNI INC TRS COM 46133G107 406 30,674 SH   SOLE 0 30,674 0 0
INVESCO TR INVT GRADE MUNS COM 46131M106 341 24,400 SH   SOLE 0 24,400 0 0
ISTAR INC COM 45031U101 725 75,000 SH   SOLE 0 75,000 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 1,243 70,200 SH   SOLE 0 70,200 0 0
KBR INC COM 48242W106 418 27,000 SH   SOLE 0 27,000 0 0
KINROSS GOLD CORP COM NO PAR 496902404 1,575 463,352 SH   SOLE 0 463,352 0 0
LAYNE CHRISTENSEN CO NOTE 4.250%11/1 521050AB0 724 1,000,000 SH   SOLE 0 1,000,000 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 9 100 SH Put SOLE 0 100 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 380 500 SH Call SOLE 0 0 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 165,504 1,930,211 SH   SOLE 0 1,930,211 0 0
LILLY ELI & CO COM 532457108 1,296 18,000 SH   SOLE 0 18,000 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 1,692 24,600 SH   SOLE 0 24,600 0 0
MB FINANCIAL INC NEW COM 55264U108 1,623 50,000 SH   SOLE 0 50,000 0 0
MCDONALDS CORP COM 580135101 687 250 SH Call SOLE 0 0 0 0
MEDLEY CAP CORP COM 58503F106 2,936 444,851 SH   SOLE 0 444,851 0 0
MFA FINL INC COM 55272X102 8,345 1,218,300 SH   SOLE 0 1,218,300 0 0
MICROSOFT CORP COM 594918104 2,342 42,400 SH   SOLE 0 42,400 0 0
MONDELEZ INTL INC CL A 609207105 802 20,000 SH   SOLE 0 20,000 0 0
MVC CAPITAL INC COM 553829102 7,387 990,223 SH   SOLE 0 990,223 0 0
NEW MTN FIN CORP COM 647551100 4,859 384,462 SH   SOLE 0 384,462 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 228 19,646 SH   SOLE 0 19,646 0 0
NEWMONT MINING CORP COM 651639106 5,124 192,763 SH   SOLE 0 192,763 0 0
NEWTEK BUSINESS SVCS CORP COM NEW 652526203 2,769 221,547 SH   SOLE 0 221,547 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 2,844 70,406 SH   SOLE 0 70,406 0 0
NUVEEN PREM INCOME MUN FD COM 67062T100 543 37,251 SH   SOLE 0 37,251 0 0
OCWEN FINL CORP COM NEW 675746309 3 400 SH Call SOLE 0 0 0 0
OCWEN FINL CORP COM NEW 675746309 189 76,400 SH   SOLE 0 76,400 0 0
PENNANTPARK FLOATING RATE CA COM 70806A106 3,617 309,184 SH   SOLE 0 309,184 0 0
PENNANTPARK INVT CORP COM 708062104 5,243 748,056 SH   SOLE 0 748,056 0 0
PENNEY J C INC COM 708160106 277 25,000 SH   SOLE 0 25,000 0 0
PENNYMAC MTG INVT TR COM 70931T103 484 35,500 SH   SOLE 0 35,500 0 0
PFIZER INC COM 717081103 2,527 84,247 SH   SOLE 0 84,247 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 713 82,000 SH   SOLE 0 82,000 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 251 32,800 SH   SOLE 0 32,800 0 0
QUALCOMM INC COM 747525103 72 150 SH Call SOLE 0 0 0 0
QUALCOMM INC COM 747525103 1,279 25,000 SH   SOLE 0 25,000 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 546 36,791 SH   SOLE 0 36,791 0 0
SOLAR CAP LTD COM 83413U100 8,277 479,013 SH   SOLE 0 479,013 0 0
SOLAR SR CAP LTD COM 83416M105 6,745 462,645 SH   SOLE 0 462,645 0 0
SOLARCITY CORP COM 83416T100 1,030 500 SH Put SOLE 0 500 0 0
STARWOOD PPTY TR INC COM 85571B105 3,045 160,853 SH   SOLE 0 160,853 0 0
STRYKER CORP COM 863667101 14,078 131,220 SH   SOLE 0 131,220 0 0
SPX CORP COM 784635104 15,812 600 SH Call SOLE 0 0 0 0
SPX CORP COM 784635104 23,953 3,250 SH Put SOLE 0 3,250 0 0
SUN CMNTYS INC COM 866674104 19,345 270,148 SH   SOLE 0 270,148 0 0
SYNAPTICS INC COM 87157D109 1,999 25,073 SH   SOLE 0 25,073 0 0
SYNCHRONY FINL COM 87165B103 4,023 140,362 SH   SOLE 0 140,362 0 0
TARGA RES CORP COM 87612G101 1,409 47,178 SH   SOLE 0 47,178 0 0
TC PIPELINES LP UT COM LTD PRT 87233Q108 1,832 38,000 SH   SOLE 0 38,000 0 0
TCP CAP CORP COM 87238Q103 2,492 167,136 SH   SOLE 0 167,136 0 0
THL CR INC COM 872438106 4,800 443,215 SH   SOLE 0 443,215 0 0
TOOTSIE ROLL INDS INC COM 890516107 1,394 39,898 SH   SOLE 0 39,898 0 0
TOTAL S A SPONSORED ADR 89151E109 568 12,500 SH   SOLE 0 12,500 0 0
TPG SPECIALTY LENDING INC COM 87265K102 891 55,220 SH   SOLE 0 55,220 0 0
TRANSATLANTIC PETROLEUM LTD SHS NEW G89982113 515 686,528 SH   SOLE 0 686,528 0 0
TRANSOCEAN LTD REG SHS H8817H100 1,107 121,138 SH   SOLE 0 121,138 0 0
TWO HBRS INVT CORP COM 90187B101 10,383 1,307,654 SH   SOLE 0 1,307,654 0 0
VALE S A ADR REPSTG PFD 91912E204 117 37,500 SH   SOLE 0 37,500 0 0
VALE S A ADR 91912E105 224 53,100 SH   SOLE 0 53,100 0 0
WEST CORP COM 952355204 23,604 1,034,345 SH   SOLE 0 1,034,345 0 0
ZAIS FINL CORP COM 98886K108 5,629 377,284 SH   SOLE 0 377,284 0 0
ZAIS GROUP HLDGS INC COM 98887G106 264 54,355 SH   SOLE 0 54,355 0 0
ZIMMER BIOMET HLDGS INC COM 98956P102 2,890 27,100 SH   SOLE 0 27,100 0 0
ZOETIS INC CL A 98978V103 939 21,174 SH   SOLE 0 21,174 0 0