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
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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
AT&T Corp.(New) COM 00206r102 8,814 251,328 SH   SOLE   251,328 0 0
ALLIANCE RES PARTNER L P COM 01877r108 16,772 199,334 SH   SOLE   199,334 0 0
American Capital Agency Corp COM 02503x105 10,581 492,390 SH   SOLE   492,390 0 0
APOLLO GLOBAL MGMT LLC COM 037612306 11,547 363,100 SH   SOLE   363,100 0 0
ASTRAZENECA PLC COM 046353108 12,117 186,758 SH   SOLE   186,758 0 0
BAE Systems COM 05523r107 482 17,210 SH   SOLE   17,210 0 0
Blackstone Mortgage Trust Inc COM 09257w100 16,345 568,538 SH   SOLE   568,538 0 0
BROOKFIELD INFRAST PARTNERS COM g16252101 7,000 177,448 SH   SOLE   177,448 0 0
Cheniere Energy Partners LP COM 16411q101 4,921 164,047 SH   SOLE   164,047 0 0
Credit Suisse Group COM 225401108 295 9,108 SH   SOLE   9,108 0 0
Diamond Offshore Drilling, Inc COM 25271c102 9,601 196,911 SH   SOLE   196,911 0 0
ENERGY TRANSFER PRTNRS L P COM 29273R109 6,290 116,930 SH   SOLE   116,930 0 0
FEDERATED INVS INC PA COM 314211103 14,968 490,125 SH   SOLE   490,125 0 0
Hutchison Port Hldgs USD Sedol COM 44842D101 62 94,908 SH   SOLE   94,908 0 0
KKR FINL HLDGS LLC COM 48248a306 12,976 1,121,488 SH   SOLE   1,121,488 0 0
Lyondellbasell Inds NV COM n53745100 10,139 114,000 SH   SOLE   114,000 0 0
National Retail Properties Inc COM 637417106 10,210 297,489 SH   SOLE   297,489 0 0
Nestles ADR COM 641069406 300 3,985 SH   SOLE   3,985 0 0
Novo-Nordisk AS COM 670100205 84 1,830 SH   SOLE   1,830 0 0
Oaktree Capital Group LLC COM 674001201 15,232 261,894 SH   SOLE   261,894 0 0
PennyMac Mtg Invt Tr COM 70931t103 20,886 873,894 SH   SOLE   873,894 0 0
Posco COM 693483109 71 1,025 SH   SOLE   1,025 0 0
Realty Income Corp COM 756109104 9,775 239,226 SH   SOLE   239,226 0 0
Regal Entertainment Group COM 758766109 15,313 819,736 SH   SOLE   819,736 0 0
Royal Dutch Shell COM 780259107 12,164 155,730 SH   SOLE   155,730 0 0
Samsung SEDOL 4942818 COM 796050888 271 431 SH   SOLE   431 0 0
Sanofi COM 80105n105 122 2,333 SH   SOLE   2,333 0 0
SAP AG COM 803054204 171 2,098 SH   SOLE   2,098 0 0
Ship Finance Intl Ltd COM g81075106 17,158 954,820 SH   SOLE   954,820 0 0
Solar Capital Ltd COM 83413u100 7,128 327,277 SH   SOLE   327,277 0 0
Spirit Realty Capital Inc New COM 84860w102 10,940 996,320 SH   SOLE   996,320 0 0
Starwood Property Trust Inc COM 85571b105 20,840 883,411 SH   SOLE   883,411 0 0
TC Pipelines LP COM 87233q108 6,942 144,834 SH   SOLE   144,834 0 0
Teekay LNG Partners LP COM y8564m105 9,144 221,251 SH   SOLE   221,251 0 0
Telstra Corp LTD COM 87969n204 426 18,137 SH   SOLE   18,137 0 0
Unilever N V COM 904784709 287 6,989 SH   SOLE   6,989 0 0
Vodafone Group PLC COM 92857w308 14,288 388,145 SH   SOLE   388,145 0 0
ARCELORMITTAL SA LUXEMBOURG COM L0302D178 62 3,840 SH   SOLE   3,840 0 0