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 222 92,600 SH   SOLE   92,600 0 0
ALCOA COM 013817101 658 59,000 SH   SOLE   59,000 0 0
ALCATEL-LUCENT COM 013904305 494 136,500 SH   SOLE   136,500 0 0
ALLY FINL INC COM 02005N100 1,196 53,300 SH   SOLE   53,300 0 0
APOLLO INVT CORP COM 03761U106 545 77,000 SH   SOLE   77,000 0 0
APPLE INC COM 037833100 3,023 24,100 SH   SOLE   24,100 0 0
ARCH COAL INC COM 039380100 16 47,500 SH   SOLE   47,500 0 0
AVON PRODS COM 054303102 808 129,100 SH   SOLE   129,100 0 0
BANCO SANTANDER S.A. COM 05964H105 1,120 159,766 SH   SOLE   159,766 0 0
BANK OF AMERICA COM 060505104 1,013 59,500 SH   SOLE   59,500 0 0
BANK OF AMERICA WARRANTS COM 060505146 387 62,679 SH   SOLE   62,679 0 0
BARCLAYS BK PLC iPath S&P 500 COM 06742E711 2,010 100,000 SH   SOLE   100,000 0 0
BLACKBERRY LTD COM 09228F103 82 10,000 SH   SOLE   10,000 0 0
CBS COM 124857202 1,043 18,800 SH   SOLE   18,800 0 0
CIT GROUP COM 125581801 1,455 31,300 SH   SOLE   31,300 0 0
CAPITALA FIN CORP COM 14054R106 1,477 94,700 SH   SOLE   94,700 0 0
CHEGG INC COM 163092109 153 19,500 SH   SOLE   19,500 0 0
CITIGROUP COM 172967424 862 15,600 SH   SOLE   15,600 0 0
DIREXION DAILY S&P500 BEAR 3X ETF 25459Y371 2,838 150,000 SH   SOLE   150,000 0 0
DUPONT COM 263534109 1,081 16,900 SH   SOLE   16,900 0 0
EBAY INC COM 278642103 596 9,900 SH   SOLE   9,900 0 0
ELLINGTON FINANCIAL LLC COM 288522303 798 43,100 SH   SOLE   43,100 0 0
FIFTH STREET FINANCE CORP COM 31678A103 386 59,000 SH   SOLE   59,000 0 0
FORD MOTOR COM 345370860 570 38,000 SH   SOLE   38,000 0 0
FREEPORT-MCMORAN COPPER CL B 35671D857 412 22,100 SH   SOLE   22,100 0 0
FRONTIER COMMUNICATIONS C COM 35906A108 837 169,000 SH   SOLE   169,000 0 0
GSV CAP CORP COM 36191J101 545 52,900 SH   SOLE   52,900 0 0
GENERAL ELECTRIC COM 369604103 1,509 56,800 SH   SOLE   56,800 0 0
GENWORTH FINL INC COM 37247D106 1,128 149,000 SH   SOLE   149,000 0 0
HOVNANIAN ENTERPRISES INC COM 442487203 664 249,500 SH   SOLE   249,500 0 0
INVENSENSE INC COM 46123D205 998 66,100 SH   SOLE   66,100 0 0
JAKKS PAC INC COM 47012E106 312 31,500 SH   SOLE   31,500 0 0
LUMBER LIQUIDATORS HLDGS COM 55003T107 445 21,500 SH   SOLE   21,500 0 0
MEDICAL PROPERTIES COM 58463J304 459 35,000 SH   SOLE   35,000 0 0
NATIONSTAR MTG COM 63861C109 1,287 76,600 SH   SOLE   76,600 0 0
NOKIA CORP COM 654902204 706 103,100 SH   SOLE   103,100 0 0
NORTHSTAR RLTY FIN CORP COM 66704R704 1,197 75,300 SH   SOLE   75,300 0 0
OCH ZIFF CAP MGMT GROUP COM 67551U105 536 43,850 SH   SOLE   43,850 0 0
OCWEN FINL CORP COM 675746309 1,011 99,100 SH   SOLE   99,100 0 0
PACIFIC COAST OIL TR COM 694103102 78 19,500 SH   SOLE   19,500 0 0
PEABODY ENERGY CORP COM 704549104 191 87,000 SH   SOLE   87,000 0 0
PENNEY J C INC COM 708160106 1,232 145,500 SH   SOLE   145,500 0 0
RAYONIER ADVANCED MATLS I COM 75508B104 340 20,900 SH   SOLE   20,900 0 0
ROCKET FUEL INC COM 773111109 361 44,000 SH   SOLE   44,000 0 0
SILICON GRAPHICS INTL COR COM 82706L108 87 13,500 SH   SOLE   13,500 0 0
TRI POINTE HOMES INC COM 87265H109 1,076 70,300 SH   SOLE   70,300 0 0
TWITTER INC COM 90184L102 924 25,500 SH   SOLE   25,500 0 0
WAL MART STORES INC COM 931142103 709 10,000 SH   SOLE   10,000 0 0
WALTER INVT MGMT CORP COM 93317W102 844 36,900 SH   SOLE   36,900 0 0
YAHOO COM 984332106 1,587 40,400 SH   SOLE   40,400 0 0
CHEMOURS CO COM 163851108 295 18,428 SH   SOLE   18,428 0 0
STRATASYS LTD COM M85548101 538 15,400 SH   SOLE   15,400 0 0