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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AMERICAN CAPITAL AGENCY CORPCOM02503X1059,204400,000SH SOLE 400,00000
AMERICAN INTL GROUP INCCOM NEW02687478414,528325,000SH SOLE 325,00000
ASSURED GUARANTY LTDCOMG0585R10614,891675,000SH SOLE 675,00000
CAPITAL ONE FINL CORPCOM14040H10515,074240,000SH SOLE 240,00000
CHIMERA INVT CORPCOM16934Q1092,802934,049SH SOLE 934,04900
CITIGROUP INCCOM NEW17296742410,793225,000SH SOLE 225,00000
DELL INCCOM24702R1016,663500,000SH SOLE 500,00000
GOLDMAN SACHS GROUP INCCOM38141G10413,61390,000SH SOLE 90,00000
ISHARES SILVER TRUSTISHARES46428Q10913,930734,300SHCallSOLE 734,30000
JPMORGAN CHASE & COCOM46625H10010,558200,000SH SOLE 200,00000
METLIFE INCCOM59156R1085,491120,000SH SOLE 120,00000
MORGAN STANLEYCOM NEW6174464487,329300,000SH SOLE 300,00000
SYNOVUS FINL CORPCOM87161C105826282,869SH SOLE 282,86900
WELLS FARGO & CO NEWCOM9497461015,159125,000SH SOLE 125,00000