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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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
FLEXSHOPPER INC COM NEW 33939J303   2,786,525 1,629,547 SH   SOLE   1,629,547 0 0
READY CAPITAL CORP COM 75574U101   26,659,264 3,908,983 SH   SOLE   3,908,983 0 0
REDWOOD TRUST INC NOTE 7.750% 6/1 758075AF2   45,974,864 46,073,000 PRN   SOLE   46,073,000 0 0
RITHM CAPITAL CORP COM NEW 64828T201   541,500 50,000 SH   SOLE   50,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   586,080,000 1,000,000 SH Put SOLE   1,000,000 0 0