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
ACTAVIS PLC SHS G0083B108 277,821 933,475 SH   SOLE NONE 933,475 0 0
AERCAP HOLDINGS NV SHS N00985106 176,021 4,032,555 SH   SOLE NONE 4,032,555 0 0
AG MORTGAGE INVESTMENT TRUST I COM 001228105 3,768 200,000 SH   SOLE NONE 200,000 0 0
ALTISOURCE PORTFOLIO SOLUTIONS REG SHS L0175J104 22,038 1,712,351 SH   SOLE NONE 1,712,351 0 0
AMERICAN INTERNATIONAL GROUP I COM 026874784 212,285 3,874,526 SH   SOLE NONE 3,874,526 0 0
ANADARKO PETROLEUM CORP COM 032511107 52,174 630,049 SH   SOLE NONE 630,049 0 0
ARBOR REALTY TRUST INC COM 038923108 209 30,000 SH   SOLE NONE 30,000 0 0
ASHLAND INC COM 044209104 104,265 818,987 SH   SOLE NONE 818,987 0 0
ATLAS ENERGY GROUP LLC COM 04929Q102 23,698 3,943,173 SH   SOLE NONE 3,943,173 0 0
ATLAS RESOURCE PARTNERS LP COM UNT LTD PR 04941A101 33,643 4,363,594 SH   SOLE NONE 4,363,594 0 0
ATLAS RESOURCE PARTNERS LP COM UNT LTD PR 04941A101 7,473 969,200 SH   SOLE NONE 969,200 0 0
BAKER HUGHES INC COM 057224107 2,359 37,100 SH   SOLE NONE 37,100 0 0
CAESARS ACQUISITION CO CL A 12768T103 1,408 206,992 SH   SOLE NONE 206,992 0 0
CAESARS ENTERTAINMENT CORP COM 127686103 77,211 7,332,471 SH   SOLE NONE 7,332,471 0 0
CENTURY COMMUNITIES INC COM 156504300 4,802 248,400 SH   SOLE NONE 248,400 0 0
CHIMERA INVESTMENT CORP COM 16934Q209 188,988 60,187,237 SH   SOLE NONE 60,187,237 0 0
CITIGROUP INC COM 172967424 221,564 4,300,550 SH   SOLE NONE 4,300,550 0 0
CITIZENS FINANCIAL GROUP INC COM 174610105 4,826 200,000 SH   SOLE NONE 200,000 0 0
COMCAST CORP CL A SPL 20030N200 98,555 1,757,872 SH   SOLE NONE 1,757,872 0 0
CURIS INC COM 231269101 720 300,000 SH   SOLE NONE 300,000 0 0
DBX ETF TR DBXTR HAR CS300 233051879 4,164 100,000 SH   SOLE NONE 100,000 0 0
DISH NETWORK CORP CL A 25470M109 151,646 2,164,515 SH   SOLE NONE 2,164,515 0 0
DOW CHEMICAL CO/THE COM 260543103 89,910 1,873,900 SH   SOLE NONE 1,873,900 0 0
E*TRADE FINANCIAL CORP COM 269246401 140,403 4,916,934 SH   SOLE NONE 4,916,934 0 0
EASTMAN CHEMICAL CO COM 277432100 107,306 1,549,326 SH   SOLE NONE 1,549,326 0 0
EBAY INC COM 278642103 106,304 1,843,000 SH   SOLE NONE 1,843,000 0 0
ELLINGTON FINANCIAL LLC COM 288522303 22,831 1,146,700 SH   SOLE NONE 1,146,700 0 0
ESPERION THERAPEUTICS INC COM 29664W105 2,315 25,000 SH   SOLE NONE 25,000 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 27,453 1,003,034 SH   SOLE NONE 1,003,034 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 15,054 550,000 SH   SOLE NONE 550,000 0 0
FIFTH STREET ASSET MANAGEMENT CL A 31679P109 2,574 228,400 SH   SOLE NONE 228,400 0 0
GAMING AND LEISURE PROPERTIES COM 36467J108 49,539 1,343,606 SH   SOLE NONE 1,343,606 0 0
GENERAL MOTORS CO COM 37045V100 68,978 1,839,423 SH   SOLE NONE 1,839,423 0 0
GLOBAL X FDS FTSE GREECE 20 37950E366 16,046 1,456,037 SH   SOLE NONE 1,456,037 0 0
GROUPON INC COM CL A 399473107 85,071 11,799,075 SH   SOLE NONE 11,799,075 0 0
GULF COAST ULTRA DEEP ROYALTY ROYALTY TR UNT 40222T104 13,374 18,783,993 SH   SOLE NONE 18,783,993 0 0
HRG GROUP INC COM 40434J100 51,352 4,114,763 SH   SOLE NONE 4,114,763 0 0
HRG GROUP INC COM 40434J100 82,792 6,634,000 SH   SOLE NONE 6,634,000 0 0
HUMANA INC COM 444859102 105,637 593,400 SH   SOLE NONE 593,400 0 0
INOVALON HOLDINGS INC COM CL A 45781D101 4,532 150,000 SH   SOLE NONE 150,000 0 0
INSMED INC COM PAR $.01 457669307 1,560 75,000 SH   SOLE NONE 75,000 0 0
INTERNATIONAL BUSINESS MACHINE COM 459200101 53,457 333,067 SH   SOLE NONE 333,067 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 5,550 125,000 SH   SOLE NONE 125,000 0 0
ISHARES TR MSCI INDIA EFT 46429B598 18,391 575,000 SH   SOLE NONE 575,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 19,650 158,000 SH   SOLE NONE 158,000 0 0
JPMORGAN CHASE & CO COM 46625H100 66,759 1,102,000 SH   SOLE NONE 1,102,000 0 0
JUNO THERAPEUTICS INC COM 48205A109 3,033 50,000 SH   SOLE NONE 50,000 0 0
KAR AUCTION SERVICES INC COM 48238T109 123,400 3,253,361 SH   SOLE NONE 3,253,361 0 0
KINDER MORGAN INC/DE COM 49456B101 127,829 3,039,196 SH   SOLE NONE 3,039,196 0 0
KKR & CO LP COM UNITS 48248M102 101,065 4,430,748 SH   SOLE NONE 4,430,748 0 0
LORAL SPACE & COMMUNICATIONS I COM 543881106 69,969 1,022,342 SH   SOLE NONE 1,022,342 0 0
LYONDELLBASELL INDUSTRIES NV SHS - A - N53745100 92,289 1,051,122 SH   SOLE NONE 1,051,122 0 0
MCKESSON CORP COM 58155Q103 158,160 699,203 SH   SOLE NONE 699,203 0 0
MEDIA GENERAL INC COM 58441K100 1,200 75,000 SH   SOLE NONE 75,000 0 0
MELCO CROWN ENTERTAINMENT LTD ADR 585464100 57,131 2,662,193 SH   SOLE NONE 2,662,193 0 0
METLIFE INC COM 59156R108 2,022 40,000 SH   SOLE NONE 40,000 0 0
MOBILEYE NV ORD SHS N51488117 6,305 150,000 SH   SOLE NONE 150,000 0 0
MOTOROLA SOLUTIONS INC COM 620076307 180,567 2,708,376 SH   SOLE NONE 2,708,376 0 0
MVC CAPITAL INC COM 553829102 237 25,000 SH   SOLE NONE 25,000 0 0
NAVIENT CORP COM 63938C108 166,279 8,178,979 SH   SOLE NONE 8,178,979 0 0
NEFF CORP COM CL A 640094207 2,635 250,000 SH   SOLE NONE 250,000 0 0
NEW MEDIA INVESTMENT GROUP INC COM 64704V106 73,364 3,065,769 SH   SOLE NONE 3,065,769 0 0
NEW RESIDENTIAL INVESTMENT COR COM 64828T201 68,905 4,584,499 SH   SOLE NONE 4,584,499 0 0
NEW SENIOR INVESTMENT GROUP IN COM 648691103 46,915 2,821,118 SH   SOLE NONE 2,821,118 0 0
NORDIC AMERICAN OFFSHORE LTD SHS Y6366T112 46,800 5,109,179 SH   SOLE NONE 5,109,179 0 0
OASIS PETROLEUM INC COM 674215108 5,980 420,500 SH   SOLE NONE 420,500 0 0
ORION ENGINEERED CARBONS SA COM L72967109 11,336 629,800 SH   SOLE NONE 629,800 0 0
PANERA BREAD CO CL A 69840W108 25,279 158,000 SH   SOLE NONE 158,000 0 0
PARAMOUNT GROUP INC COM 69924R108 1,930 100,000 SH   SOLE NONE 100,000 0 0
PDC ENERGY INC COM 69327R101 2,702 50,000 SH   SOLE NONE 50,000 0 0
PENNYMAC FINANCIAL SERVICES IN CL A 70932B101 55,858 3,291,600 SH   SOLE NONE 3,291,600 0 0
PENNYMAC MORTGAGE INVESTMENT T COM 70931T103 59,416 2,790,801 SH   SOLE NONE 2,790,801 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 19,430 184,000 SH   SOLE NONE 184,000 0 0
PVH CORP COM 693656100 62,480 586,341 SH   SOLE NONE 586,341 0 0
QEP RESOURCES INC COM 74733V100 85,948 4,122,227 SH   SOLE NONE 4,122,227 0 0
REALOGY HOLDINGS CORP COM 75605Y106 66,695 1,466,462 SH   SOLE NONE 1,466,462 0 0
SANDRIDGE ENERGY INC COM 80007P307 43,308 24,330,069 SH   SOLE NONE 24,330,069 0 0
SEARS HOLDINGS CORP COM 812350106 35,949 868,752 SH   SOLE NONE 868,752 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 26,535 366,000 SH   SOLE NONE 366,000 0 0
SHIRE PLC SPONSORED ADR 82481R106 119,691 500,192 SH   SOLE NONE 500,192 0 0
SIRIUS XM HOLDINGS INC COM 82968B103 213,521 55,895,494 SH   SOLE NONE 55,895,494 0 0
SOLAREDGE TECHNOLOGIES INC COM 83417M104 6,579 300,000 SH   SOLE NONE 300,000 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 27,645 750,000 SH   SOLE NONE 750,000 0 0
SUMMIT MATERIALS INC CL A 86614U100 13,290 600,000 SH   SOLE NONE 600,000 0 0
SUNEDISON INC COM 86732Y109 211,115 8,796,471 SH   SOLE NONE 8,796,471 0 0
TARGA RESOURCES CORP COM 87612G101 187,812 1,960,664 SH   SOLE NONE 1,960,664 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 163,085 3,943,050 SH   SOLE NONE 3,943,050 0 0
TEEKAY LNG PARTNERS LP PRTNRSP UNITS Y8564M105 747 20,000 SH   SOLE NONE 20,000 0 0
TERRAFORM POWER INC CL A COM 88104R100 31,379 859,466 SH   SOLE NONE 859,466 0 0
TESARO INC COM 881569107 2,870 50,000 SH   SOLE NONE 50,000 0 0
THL CREDIT INC COM 872438106 11,201 911,406 SH   SOLE NONE 911,406 0 0
TIME WARNER CABLE INC COM 88732J207 39,254 261,900 SH   SOLE NONE 261,900 0 0
TIME WARNER INC COM 887317303 69,908 827,900 SH   SOLE NONE 827,900 0 0
TRANSOCEAN PARTNERS LLC COM UNIT RP LT Y8977Y100 14,201 1,159,228 SH   SOLE NONE 1,159,228 0 0
TRIBUNE MEDIA CO CL A 896047503 167,218 2,749,836 SH   SOLE NONE 2,749,836 0 0
TWENTY-FIRST CENTURY FOX INC CL A 90130A101 88,728 2,622,000 SH   SOLE NONE 2,622,000 0 0
TWO HARBORS INVESTMENT CORP COM 90187B101 1,062 100,000 SH   SOLE NONE 100,000 0 0
UNITED CONTINENTAL HOLDINGS IN COM 910047109 190,669 2,835,228 SH   SOLE NONE 2,835,228 0 0
VIVINT SOLAR INC COM 92854Q106 4,856 400,000 SH   SOLE NONE 400,000 0 0
WPX ENERGY INC COM 98212B103 38,841 3,553,637 SH   SOLE NONE 3,553,637 0 0
XL GROUP PLC SHS G98290102 11,088 301,300 SH   SOLE NONE 301,300 0 0