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 28,058 109,000 SH   SOLE   109,000 0 0
EVEREST RE GROUP LTD COM G3223R108 5,109 30,000 SH   SOLE   30,000 0 0
COSTAMARE INC SHS Y1771G102 7,255 412,000 SH   SOLE   412,000 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 3,489 849,000 SH   SOLE   849,000 0 0
SCORPIO TANKERS INC SHS Y7542C106 8,082 930,000 SH   SOLE   905,000 0 25,000
AIR LEASE CORP CL A 00912X302 18,116 528,000 SH   SOLE   514,000 0 14,000
ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 1,586 26,000 SH   SOLE   26,000 0 0
ALLIANCE RES PARTNER LP UT LTD PART 01877R108 7,387 171,600 SH   SOLE   171,600 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 10,190 190,000 SH   SOLE   190,000 0 0
ANNALY CAP MGMT INC NOTE 4.0% 2/15/15 035710AA0 2,031 2,000,000 PRN   SOLE   2,000,000 0 0
ATLAS ENERGY LP COM UNITS LP 04930A104 3,395 109,000 SH   SOLE   109,000 0 0
BARNES & NOBLE INC COM 067774109 6,780 292,000 SH   SOLE   292,000 0 0
BOULDER BRANDS INC COM 101405108 553 50,000 SH   SOLE   50,000 0 0
CUMULUS MEDIA INC CL A 231082108 10,321 2,440,000 SH   SOLE   2,300,000 0 140,000
DELTA AIR LINES INC DEL COM NEW 247361702 4,919 100,000 SH   SOLE   100,000 0 0
DICKS SPORTING GOODS INC COM 253393102 1,490 30,000 SH   SOLE   30,000 0 0
ENLINK MIDSTREAM PARTNERS LP COM UNIT REP LTD 29336U107 3,742 129,000 SH   SOLE   129,000 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 10,181 240,000 SH   SOLE   220,000 0 20,000
GILEAD SCIENCES INC COM 375558103 18,852 200,000 SH   SOLE   200,000 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 6,296 50,000 SH   SOLE   50,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 17,943 150,000 SH   SOLE   150,000 0 0
KINDER MORGAN INC DEL COM 49456B101 15,841 374,409 SH   SOLE   374,409 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 789 15,750 SH   SOLE   15,750 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 1,569 31,500 SH   SOLE   31,500 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 2,222 63,000 SH   SOLE   63,000 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 4,414 126,000 SH   SOLE   126,000 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 41,984 590,573 SH   SOLE   590,573 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 23,310 282,000 SH   SOLE   282,000 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 5,740 326,500 SH   SOLE   326,500 0 0
NORTHSTAR ASSET MGMT GROUP INC COM 66705Y104 7,369 326,500 SH   SOLE   326,500 0 0
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 2,547 74,000 SH   SOLE   74,000 0 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 2,194 137,133 SH   SOLE   134,000 0 3,133
OUTERWALL INC COM 690070107 7,522 100,000 SH   SOLE   100,000 0 0
OXFORD LANE CAP CORP COM 691543102 1,602 107,181 SH   SOLE   65,148 0 42,033
PROSPECT CAPITAL CORPORATION COM 74348T102 702 85,000 SH   SOLE   55,000 0 30,000
RENTECH INC COM 760112102 378 300,000 SH   SOLE   300,000 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 12,394 235,000 SH   SOLE   225,000 0 10,000
SINCLAIR BROADCAST GROUP INC CL A 829226109 3,010 110,000 SH   SOLE   110,000 0 0
SUNOPTA INC COM 8676EP108 949 80,000 SH   SOLE   80,000 0 0
TANGOE INC COM 87582Y108 5,212 400,000 SH   SOLE   400,000 0 0
TWO HBRS INVT CORP COM 90187B101 2,956 295,000 SH   SOLE   265,000 0 30,000
WILLIAMS PARTNERS LP COM UNIT L P 96950F104 671 15,000 SH   SOLE   15,000 0 0