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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ANIP 3% 12/01/19 00182CAA1 72,904 67,426 PRN   SOLE   27,800 0 39,626
AKAM 0% 02/15/19 00971TAG6 5,454 5,520 PRN   SOLE   2,500 0 3,020
ARI 5.5% 03/15/19 03762UAA3 64,701 63,432 PRN   SOLE   17,300 0 46,132
ARCC 4.875% 03/15/17 04010LAG8 4,803 4,715 PRN   SOLE   0 0 4,715
ARCC 4.75% 01/15/18 04010LAJ2 12,136 11,733 PRN   SOLE   0 0 11,733
ARCC 4.375% 01/15/19 04010LAM5 1,427 1,374 PRN   SOLE   0 0 1,374
AAWW 2.25% 06/01/22 049164BH8 75,364 77,346 PRN   SOLE   30,000 0 47,346
BGCP 4.5% 07/15/16 05541TAD3 12,974 12,926 PRN   SOLE   2,000 0 10,926
BKCC 5.5% 02/15/18 092533AB4 19,451 19,058 PRN   SOLE   1,000 0 18,058
BXMT 5.25% 12/01/18 09257WAA8 54,515 51,248 PRN   SOLE   11,200 0 40,048
BSFT 1.5% 07/01/18 11133BAB8 22,776 19,561 PRN   SOLE   1,000 0 18,561
BRCD 1.375% 01/01/20 111621AQ1 20,127 20,408 PRN   SOLE   15,300 0 5,108
CAMP 1.625% 05/15/20 128126AB5 58,466 62,698 PRN   SOLE   29,500 0 33,198
CSV 2.75% 03/15/21 143905AM9 1,223 1,037 PRN   SOLE   1,000 0 37
GTLS 2% 08/01/18 16115QAC4 18,160 19,409 PRN   SOLE   5,000 0 14,409
CLNY 3.875% 01/15/21 19624RAB2 73,506 77,172 PRN   SOLE   26,828 0 50,344
ECHO 2.5% 05/01/20 27875TAA9 64,089 67,507 PRN   SOLE   23,000 0 44,507
EFII 0.75% 09/01/19 286082AC6 30,341 28,241 PRN   SOLE   20,500 0 7,741
EBS 2.875% 01/15/21 29089QAB1 21,476 18,890 PRN   SOLE   13,000 0 5,890
ECPG 3% 07/01/20 292554AF9 3,137 4,058 PRN   SOLE   500 0 3,558
ECPG 2.875% 03/15/21 292554AH5 9,255 13,012 PRN   SOLE   6,500 0 6,512
ENV 1.75% 12/15/19 29404KAA4 2,099 2,326 PRN   SOLE   0 0 2,326
FNSR 0.5% 12/15/33 31787AAM3 23,007 23,795 PRN   SOLE   14,000 0 9,795
FOR 3.75% 03/01/20 346232AB7 28,847 31,292 PRN   SOLE   9,526 0 21,766
GS/AAPL 0% 01/24/20 38141GMG6 25,057 23,316 PRN   SOLE   0 0 23,316
GS/GOOG 0% 02/19/21 38147QLX2 14,446 13,701 PRN   SOLE   2,400 0 11,301
GS/KSU 0% 02/16/21 38147QMF0 10,037 10,790 PRN   SOLE   0 0 10,790
GBX 3.5% 04/01/18 393657AH4 9,044 8,472 PRN   SOLE   1,000 0 7,472
HCI 3.875% 03/15/19 40416EAB9 7,849 8,938 PRN   SOLE   5,500 0 3,438
HLX 3.25% 03/15/32 42330PAG2 12,829 14,558 PRN   SOLE   0 0 14,558
HOS 1.5% 09/01/19 440543AN6 18,110 31,565 PRN   SOLE   0 0 31,565
HURN 1.25% 10/01/19 447462AB8 11,514 11,281 PRN   SOLE   4,000 0 7,281
ICON 1.5% 03/15/18 451055AF4 9,198 11,303 PRN   SOLE   8,630 0 2,673
IDTI 0.875% 11/15/22 458118AB2 29,675 30,672 PRN   SOLE   25,550 0 5,122
IDCC 1.5% 03/01/20 458660AD9 12,396 11,926 PRN   SOLE   4,000 0 7,926
JAZZ 1.875% 08/15/21 472145AB7 31,779 29,545 PRN   SOLE   24,900 0 4,645
KBH 1.375% 02/01/19 48666KAS8 10,441 10,876 PRN   SOLE   1,000 0 9,876
LGIH 4.25% 11/15/19 50187TAB2 46,844 30,125 PRN   SOLE   24,700 0 5,425
LNKD 0.5% 11/01/19 53578AAB4 12,873 12,978 PRN   SOLE   10,400 0 2,578
MHO 3% 03/01/18 55292PAB1 42,655 43,553 PRN   SOLE   20,177 0 23,376
MDSO 1% 08/01/18 58471AAB1 1,902 1,747 PRN   SOLE   1,000 0 747
MTH 1.875% 09/15/32 59001AAR3 29,804 29,823 PRN   SOLE   5,000 0 24,823
NHI 3.25% 04/01/21 63633DAE4 25,507 23,005 PRN   SOLE   1,000 0 22,005
NMFC 5% 06/15/19 647551AB6 18,713 18,974 PRN   SOLE   6,300 0 12,674
NR 4% 10/01/17 651718AC2 5,634 6,074 PRN   SOLE   0 0 6,074
ON 1% 12/01/20 682189AK1 41,254 45,901 PRN   SOLE   30,700 0 15,201
PMT 5.375% 05/01/20 70932AAB9 61,567 65,280 PRN   SOLE   21,150 0 44,130
PLAB 3.25% 04/01/19 719405AK8 9,554 8,583 PRN   SOLE   0 0 8,583
PRAA 3% 08/01/20 73640QAB1 32,415 41,326 PRN   SOLE   19,300 0 22,026
PROSHARES TR ULTPRO SHT RUSS 74348A335 1,350 57,000 SH   SOLE   57,000 0 0
PROSHARES TR ULTRAPRO SH NW14 74348A418 525 28,417 SH   SOLE   28,417 0 0
PROSHARES TR ULTRAPRO SHORT S 74348A442 953 36,311 SH   SOLE   36,311 0 0
RWT 5.625% 11/15/19 749772AB5 28,062 28,526 PRN   SOLE   22,800 0 5,726
RWT 4.625% 04/15/18 758075AB1 42,345 42,854 PRN   SOLE   2,000 0 40,854
REGI 2.75% 06/15/19 75972AAA1 37,577 41,464 PRN   SOLE   14,932 0 26,532
RGEN 2.125% 06/01/21 759916AA7 51,974 48,041 PRN   SOLE   25,470 0 22,571
RSO 6% 12/01/18 76120WAA2 28,324 29,200 PRN   SOLE   4,000 0 25,200
RSO 8% 01/15/20 76120WAB0 32,878 33,528 PRN   SOLE   21,700 0 11,828
CAA 0.25% 06/01/19 783764AS2 17,202 18,584 PRN   SOLE   0 0 18,584
CKH 3% 11/15/28 81170YAB5 30,856 38,330 PRN   SOLE   10,810 0 27,520
SPWR 0.875% 06/01/21 867652AJ8 8,620 10,601 PRN   SOLE   4,200 0 6,401
SNCR 0.75% 08/15/19 87157BAA1 39,134 39,355 PRN   SOLE   24,300 0 15,055
TCPC 5.25% 12/15/19 87238QAB9 6,354 6,158 PRN   SOLE   2,500 0 3,658
TICC 7.5% 11/01/17 87244TAB5 21,730 21,716 PRN   SOLE   0 0 21,716
TSLX 4.5% 12/15/19 87265KAB8 1,962 1,921 PRN   SOLE   1,000 0 921
TTMI 1.75% 12/15/20 87305RAD1 75,464 75,748 PRN   SOLE   28,130 0 47,618
TOL 0.5% 09/15/32 88947EAM2 3,197 3,250 PRN   SOLE   1,000 0 2,250
TRIB 4% 04/01/45 89643QAB4 17,669 20,050 PRN   SOLE   16,400 0 3,650
UBS/GOOG 0% 02/15/21 90270KAW9 38,971 38,244 PRN   SOLE   16,050 0 22,194
VRNT 1.5% 06/01/21 92343XAA8 40,941 44,714 PRN   SOLE   15,531 0 29,183
WF/AAPL 0% 01/24/20 94986RPJ4 10,412 9,775 PRN   SOLE   8,028 0 1,747
WF/INTC 0% 06/05/20 94986RQF1 38,641 33,072 PRN   SOLE   10,000 0 23,072
WF/IP 0% 06/10/20 94986RQH7 34,804 36,873 PRN   SOLE   17,000 0 19,873
WF/AAPL 0% 01/24/20 94986RQJ3 1,951 1,840 PRN   SOLE   0 0 1,840
YHOO 0% 12/01/18 984332AF3 1,623 1,627 PRN   SOLE   1,000 0 627