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
ABBOTT LABS COM 002824100 900 22,000 SH   SOLE 0 22,000 0 0
ABBVIE INC COM 00287Y109 1,242 22,000 SH   SOLE 0 22,000 0 0
AEROPOSTALE COM 007865108 175 50,000 SH   SOLE 0 50,000 0 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 6,670 175,440 SH   SOLE 0 175,440 0 0
AMERICAN CAP SR FLOATING LTD COM 02504D108 7 500 SH   SOLE 0 500 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 1,161 49,600 SH   SOLE 0 49,600 0 0
ANNALY CAP MGMT INC COM 035710409 15,566 1,361,822 SH   SOLE 0 1,361,822 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 6,482 393,084 SH   SOLE 0 393,084 0 0
APOLLO INVT CORP COM 03761U106 730 84,800 SH   SOLE 0 84,800 0 0
APPLE INC COM 037833100 1,376 875 SH Call SOLE 0 0 0 0
BARRICK GOLD CORP COM 067901108 6,025 329,250 SH   SOLE 0 329,250 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 921 49,796 SH   SOLE 0 49,796 0 0
BROOKDALE SR LIVING INC COM 112463104 26,477 794,140 SH   SOLE 0 794,140 0 0
BROOKDALE SR LIVING INC COM 112463104 11 300 SH Put SOLE 0 300 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 2,240 26,963 SH   SOLE 0 26,963 0 0
CALUMET SPECIALTY PRODS PTNR UT LTD PARTNER 131476103 2,212 69,547 SH   SOLE 0 69,547 0 0
CHIMERA INVT CORP COM 16934Q109 50,845 15,938,854 SH   SOLE 0 15,938,854 0 0
CISCO SYS INC COM 17275R102 2,982 120,000 SH   SOLE 0 120,000 0 0
CITIGROUP INC COM NEW 172967424 73 250 SH Call SOLE 0 0 0 0
COMCAST CORP NEW CL A SPL 20030N200 3,200 60,000 SH   SOLE 0 60,000 0 0
CONOCOPHILLIPS COM 20825C104 617 7,200 SH   SOLE 0 7,200 0 0
CYS INVTS INC COM 12673A108 18,223 2,020,310 SH   SOLE 0 2,020,310 0 0
E M C CORP MASS COM 268648102 1,054 40,000 SH   SOLE 0 40,000 0 0
EATON VANCE MUN BD FD COM 27827X101 317 25,500 SH   SOLE 0 25,500 0 0
ELLINGTON FINANCIAL LLC COM 288522303 7,137 297,374 SH   SOLE 0 297,374 0 0
ELLINGTON RESIDENTIAL MTG RE COM SHS BEN INT 288578107 572 33,607 SH   SOLE 0 33,607 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 26,580 339,511 SH   SOLE 0 339,511 0 0
ESSENT GROUP LTD COM G3198U102 474 23,600 SH   SOLE 0 23,600 0 0
EXELON CORP COM 30161N101 2,554 70,000 SH   SOLE 0 70,000 0 0
EXXON MOBIL CORP COM 30231G102 2,340 23,240 SH   SOLE 0 23,240 0 0
FIRST SOLAR INC COM 336433107 711 10,000 SH   SOLE 0 10,000 0 0
GENERAL ELECTRIC CO COM 369604103 11,223 427,069 SH   SOLE 0 427,069 0 0
GENERAL ELECTRIC CO COM 369604103 240 2,760 SH Put SOLE 0 2,760 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 488 20,719 SH   SOLE 0 20,719 0 0
GENERAL MTRS CO COM 37045V100 3,165 87,178 SH   SOLE 0 87,178 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 13,295 79,400 SH   SOLE 0 79,400 0 0
HOME LN SERVICING SOLUTIONS ORD SHS G6648D109 3,821 168,100 SH   SOLE 0 168,100 0 0
HORIZON TECHNOLOGY FIN CORP COM 44045A102 136 9,314 SH   SOLE 0 9,314 0 0
INTREPID POTASH INC COM 46121Y102 153 9,100 SH   SOLE 0 9,100 0 0
INVESCO ADVANTAGE MUNICIPAL SH BEN INT 46132E103 321 28,300 SH   SOLE 0 28,300 0 0
INVESCO CALIF VALUE MUN INC COM 46132H106 62 5,000 SH   SOLE 0 5,000 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 1,056 60,834 SH   SOLE 0 60,834 0 0
INVESCO MUN OPPORTUNITY TR COM 46132C107 350 27,800 SH   SOLE 0 27,800 0 0
INVESCO MUN TR COM 46131J103 337 26,900 SH   SOLE 0 26,900 0 0
INVESCO QUALITY MUNI INC TRS COM 46133G107 377 30,674 SH   SOLE 0 30,674 0 0
INVESCO TR INVT GRADE MUNS COM 46131M106 318 24,400 SH   SOLE 0 24,400 0 0
ISTAR FINL INC COM 45031U101 1,124 75,000 SH   SOLE 0 75,000 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,103 108,800 SH   SOLE 0 108,800 0 0
KBR INC COM 48242W106 644 27,000 SH   SOLE 0 27,000 0 0
KINDER MORGAN INC DEL COM 49456B101 276 7,600 SH   SOLE 0 7,600 0 0
KINROSS GOLD CORP COM NO PAR 496902404 1,918 463,352 SH   SOLE 0 463,352 0 0
KRAFT FOODS GROUP INC COM 50076Q106 400 6,666 SH   SOLE 0 6,666 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 125,140 2,849,911 SH   SOLE 0 2,849,911 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 683 6,090 SH Put SOLE 0 6,090 0 0
LILLY ELI & CO COM 532457108 1,119 18,000 SH   SOLE 0 18,000 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2,067 24,600 SH   SOLE 0 24,600 0 0
MAXWELL TECHNOLOGIES INC COM 577767106 1,242 82,100 SH   SOLE 0 82,100 0 0
MB FINANCIAL INC NEW COM 55264U108 1,353 50,000 SH   SOLE 0 50,000 0 0
MEDLEY CAP CORP COM 58503F106 1,433 109,711 SH   SOLE 0 109,711 0 0
MFA FINL INC COM 55272X102 10,002 1,218,300 SH   SOLE 0 1,218,300 0 0
MICROSOFT CORP COM 594918104 4,087 98,000 SH   SOLE 0 98,000 0 0
MICROSOFT CORP COM 594918104 1 650 SH Put SOLE 0 650 0 0
MONDELEZ INTL INC CL A 609207105 752 20,000 SH   SOLE 0 20,000 0 0
MONDELEZ INTL INC CL A 609207105 340 1,000 SH Call SOLE 0 0 0 0
MVC CAPITAL INC COM 553829102 6,964 537,747 SH   SOLE 0 537,747 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 12 866 SH   SOLE 0 866 0 0
NEW MTN FIN CORP COM 647551100 5,049 339,800 SH   SOLE 0 339,800 0 0
NEW RESIDENTIAL INVT CORP COM 64828T102 76 12,000 SH   SOLE 0 12,000 0 0
NEWCASTLE INVT CORP COM 65105M108 57 12,000 SH   SOLE 0 12,000 0 0
NEWMONT MINING CORP COM 651639106 2,493 98,000 SH   SOLE 0 98,000 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 4,366 70,406 SH   SOLE 0 70,406 0 0
NUVEEN PREM INCOME MUN FD COM 67062T100 506 37,251 SH   SOLE 0 37,251 0 0
PENNANTPARK FLOATING RATE CA COM 70806A106 1,336 93,520 SH   SOLE 0 93,520 0 0
PENNANTPARK INVT CORP COM 708062104 3,525 307,624 SH   SOLE 0 307,624 0 0
PENNEY J C INC COM 708160106 453 50,000 SH   SOLE 0 50,000 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 1,390 95,000 SH   SOLE 0 95,000 0 0
PFIZER INC COM 717081103 2,500 84,247 SH   SOLE 0 84,247 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 235 32,800 SH   SOLE 0 32,800 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 4,794 148,835 SH   SOLE 0 148,835 0 0
SPX CORP COM 784635104 237 200 SH Put SOLE 0 200 0 0
SANDRIDGE ENERGY INC COM 80007P307 437 61,162 SH   SOLE 0 61,162 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 600 36,791 SH   SOLE 0 36,791 0 0
SOLAR CAP LTD COM 83413U100 2,585 121,462 SH   SOLE 0 121,462 0 0
SOLAR SR CAP LTD COM 83416M105 2,466 146,089 SH   SOLE 0 146,089 0 0
SONY CORP ADR NEW 835699307 34 2,000 SH   SOLE 0 2,000 0 0
STARWOOD PPTY TR INC COM 85571B105 2,656 111,753 SH   SOLE 0 111,753 0 0
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 586 22,350 SH   SOLE 0 22,350 0 0
STRYKER CORP COM 863667101 11,064 131,220 SH   SOLE 0 131,220 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 5,473 76,095 SH   SOLE 0 76,095 0 0
TC PIPELINES LP UT COM LTD PRT 87233Q108 1,963 38,000 SH   SOLE 0 38,000 0 0
THL CR INC COM 872438106 700 50,000 SH   SOLE 0 50,000 0 0
TOOTSIE ROLL INDS INC COM 890516107 1,608 54,616 SH   SOLE 0 54,616 0 0
TOTAL S A SPONSORED ADR 89151E109 903 12,500 SH   SOLE 0 12,500 0 0
TRANSATLANTIC PETROLEUM LTD SHS NEW G89982113 4,644 407,749 SH   SOLE 0 407,749 0 0
TRANSOCEAN LTD REG SHS H8817H100 4,104 91,138 SH   SOLE 0 91,138 0 0
TRAVELCENTERS OF AMERICA LLC COM 894174101 1,847 208,000 SH   SOLE 0 208,000 0 0
TWO HBRS INVT CORP COM 90187B101 13,337 1,272,654 SH   SOLE 0 1,272,654 0 0
VALE S A ADR 91912E105 1,397 105,600 SH   SOLE 0 105,600 0 0
VALE S A ADR REPSTG PFD 91912E204 446 37,500 SH   SOLE 0 37,500 0 0
WEST CORP COM 952355204 3,038 113,347 SH   SOLE 0 113,347 0 0
YUME INC COM 98872B104 34 5,700 SH   SOLE 0 5,700 0 0
ZAIS FINL CORP COM 98886K108 5,149 309,811 SH   SOLE 0 309,811 0 0
ZIMMER HLDGS INC COM 98956P102 2,815 27,100 SH   SOLE 0 27,100 0 0
ZIMMER HLDGS INC COM 98956P102 26 209 SH Put SOLE 0 209 0 0
ZOETIS INC CL A 98978V103 683 21,174 SH   SOLE 0 21,174 0 0