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
AERCAP HOLDINGS NV SHS N00985106 8,322 200,000 SH   SOLE   200,000 0 0
AGNC INVT CORP COM 00123Q104 10,882 600,200 SH   SOLE   600,200 0 0
AIR LEASE CORP CL A 00912X302 11,157 325,000 SH   SOLE   325,000 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 3,499 676,718 SH   SOLE   676,718 0 0
APOLLO INVT CORP COM 03761U106 2,930 500,000 SH   SOLE   500,000 0 0
ARES CAP CORP COM 04010L103 21,437 1,300,000 SH   SOLE   1,300,000 0 0
ASSURED GUARANTY LTD COM G0585R106 11,331 300,000 SH   SOLE   300,000 0 0
BANK AMER CORP COM 060505104 4,420 200,000 SH   SOLE   200,000 0 0
CITIGROUP INC COM NEW 172967424 9,806 165,000 SH   SOLE   165,000 0 0
FIRST DATA CORP NEW COM CL A 32008D106 4,257 300,000 SH   SOLE   300,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 22 2,000 SH Put SOLE   2,000 0 0
KEYCORP NEW COM 493267108 6,395 350,000 SH   SOLE   350,000 0 0
METLIFE INC COM 59156R108 2,695 50,000 SH   SOLE   50,000 0 0
MICRON TECHNOLOGY INC COM 595112103 6,028 275,000 SH   SOLE   275,000 0 0
OFG BANCORP COM 67103X102 5,240 400,000 SH   SOLE   400,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 50 1,000 SH Put SOLE   1,000 0 0