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
ADVANCED MICRO DEV COM 007903107 200 50,000 SH   SOLE   50,000 0 0
ALCATEL-LUCENT COM 013904305 712 182,500 SH   SOLE   182,500 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 1,375 64,000 SH   SOLE   64,000 0 0
AMERICAN RESIDENTIAL PPTY COM 02927E303 809 45,000 SH   SOLE   45,000 0 0
APOLLO INVT CORP COM 03761U106 590 71,000 SH   SOLE   71,000 0 0
APPLE INC COM 037833100 2,281 4,250 SH   SOLE   4,250 0 0
ARCH COAL INC COM 039380100 420 87,100 SH   SOLE   87,100 0 0
AVON PRODS COM 054303102 10 700 SH   SOLE   700 0 0
BANCO SANTANDER S.A. COM 05964H105 818 85,346 SH   SOLE   85,346 0 0
BANK OF AMERICA COM 060505104 1,080 62,800 SH   SOLE   62,800 0 0
BANK OF AMERICA WRNTS 060505146 515 62,679 SH   SOLE   62,679 0 0
BARCLAYS BK PLC S&P 500 ETN 06742E711 3,794 90,000 SH   SOLE   90,000 0 0
CIT GROUP COM 125581801 838 17,100 SH   SOLE   17,100 0 0
CHEGG INC COM 163092109 667 95,300 SH   SOLE   95,300 0 0
CISCO SYS COM 17275R102 684 30,500 SH   SOLE   30,500 0 0
CITIGROUP COM 172967424 1,842 38,700 SH   SOLE   38,700 0 0
CLIFFS NAT RES INC PFD 7.00 18683K408 135 6,500 SH   SOLE   6,500 0 0
COLONY FINL INC CONV BD 3.875 01 19624RAB2 103 100,000 PRN   SOLE   100,000 0 0
DIGITAL RLTY TR INC COM 253868103 764 14,400 SH   SOLE   14,400 0 0
DIREXION DAILY S&P500 BEAR 3X S&P BEAR 3X 25459Y371 1,077 35,000 SH   SOLE   35,000 0 0
DIREXION BEAR MIDCAP 3X DLY MCAP BEAR 3X 25459Y421 1,063 66,000 SH   SOLE   66,000 0 0
ETF DIREXION DAILY FINL BEAR 3 DLY BEAR 3X 25459Y447 1,949 100,000 SH   SOLE   100,000 0 0
E M C CORP MASS COM 268648102 340 12,400 SH   SOLE   12,400 0 0
FIFTH STREET FINANCE CORP COM 31678A103 501 53,000 SH   SOLE   53,000 0 0
FORD MOTOR COM 345370860 671 43,000 SH   SOLE   43,000 0 0
FUSION-IO INC COM 36112J107 763 72,500 SH   SOLE   72,500 0 0
GSV CAP CORP COM 36191J101 385 38,000 SH   SOLE   38,000 0 0
GENERAL ELECTRIC COM 369604103 391 15,100 SH   SOLE   15,100 0 0
GOLDMAN SACHS GROUP COM 38141G104 1,065 6,500 SH   SOLE   6,500 0 0
GOLDMAN SACHS PFD 6.2 PFD 6.2 38144X500 10 400 SH   SOLE   400 0 0
INTEL CORP COM 458140100 287 11,100 SH   SOLE   11,100 0 0
ISHARES CHINA LG-CAP ETF 464287184 429 12,000 SH   SOLE   12,000 0 0
JPMORGAN CHASE & CO WRNTS 46634E114 172 8,500 SH   SOLE   8,500 0 0
JAKKS PAC INC COM 47012E106 71 9,800 SH   SOLE   9,800 0 0
ELI LILLY & CO COM 532457108 165 2,800 SH   SOLE   2,800 0 0
MEDALLION FINL CORP COM 583928106 59 4,500 SH   SOLE   4,500 0 0
MEDICAL PROPERTIES COM 58463J304 1,019 79,700 SH   SOLE   79,700 0 0
MORGAN STANLEY COM 617446448 898 28,800 SH   SOLE   28,800 0 0
NU SKIN ENTERPRISES INC COM 67018T105 1,740 21,000 SH   SOLE   21,000 0 0
OCH ZIFF CAP MGMT GROUP COM 67551U105 496 36,000 SH   SOLE   36,000 0 0
OCWEN FINL CORP COM 675746309 1,724 44,000 SH   SOLE   44,000 0 0
PROVINCE OF ONTARIO CONV BD 3.15 12/ 68323AAC8 265 250,000 PRN   SOLE   250,000 0 0
PACIFIC COAST OIL TR COM 694103102 924 69,000 SH   SOLE   69,000 0 0
PEABODY ENERGY CORP COM 704549104 212 13,000 SH   SOLE   13,000 0 0
PENNEY J C INC COM 708160106 1,112 129,000 SH   SOLE   129,000 0 0
PETROLEO BRASILEIRO SA PE COM 71654V408 391 29,700 SH   SOLE   29,700 0 0
POTASH CORP SASK INC COM 73755L107 815 22,500 SH   SOLE   22,500 0 0
PROSHR ULTRASHORT TR 20+TRS PS PSHR ULTSH 20 YR 74347B201 4,053 60,000 SH   SOLE   60,000 0 0
PROSHRS S&P 500 UTLRSHRT PSHR ULTSH S&P 74347B300 454 16,000 SH   SOLE   16,000 0 0
PROSPECT CAPITAL CORP COM 74348T102 108 10,000 SH   SOLE   10,000 0 0
RACKSPACE HOSTING INC COM 750086100 985 30,000 SH   SOLE   30,000 0 0
RAYONIER INC COM 754907103 1,905 41,500 SH   SOLE   41,500 0 0
REPUBLIC SVCS INC COM 760759100 113 3,300 SH   SOLE   3,300 0 0
ST JOE CO COM 790148100 346 18,000 SH   SOLE   18,000 0 0
SILICON GRAPHICS INTL COR COM 82706L108 491 40,000 SH   SOLE   40,000 0 0
II VI INC COM 902104108 213 13,800 SH   SOLE   13,800 0 0
WALTER ENERGY INC COM 93317Q105 922 122,000 SH   SOLE   122,000 0 0
WALTER INVT MGMT CORP COM 93317W102 1,375 46,100 SH   SOLE   46,100 0 0
WASTE MGMT INC COM 94106L109 374 8,900 SH   SOLE   8,900 0 0