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
AMERICAN CAPITAL AGENCY CORP COM 02503X105 50,083 2,726,344 SH   SOLE 1 2,726,344 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 41,658 5,130,180 SH   SOLE 1 5,130,180 0 0
ARES CAP CORP COM 04010L103 46,986 2,852,806 SH   SOLE 1 2,852,806 0 0
ARES COML REAL ESTATE CORP COM 04013V108 16,741 1,469,769 SH   SOLE 1 1,469,769 0 0
ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 258 250,000 SH   SOLE 1 250,000 0 0
BROOKFIELD TOTAL RETURN FD I COM 11283U108 251 11,250 SH   SOLE 1 11,250 0 0
DYNEX CAP INC COM NEW 26817Q506 534 69,910 SH   SOLE 1 69,910 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 37,344 715,796 SH   SOLE 1 715,796 0 0
FIFTH STREET FINANCE CORP COM 31678A103 29,715 4,536,545 SH   SOLE 1 4,536,545 0 0
FS INVT CORP COM 302635107 1,570 159,300 SH   SOLE 1 159,300 0 0
ISHARES IBOXX HI YD ETF 464288513 40,533 456,500 SH   SOLE 1 456,500 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 11,778 208,900 SH   SOLE 1 208,900 0 0
PENNANTPARK INVT CORP COM 708062104 13,572 1,545,761 SH   SOLE 1 1,545,761 0 0
PENNYMAC MTG INVT TR COM 70931T103 45,082 2,584,959 SH   SOLE 1 2,584,959 0 0
POWERSECURE INTL INC COM 73936N105 150 10,109 SH   SOLE 1 10,109 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 14,347 603,059 SH   SOLE 1 603,059 0 0
TPG SPECIALTY LENDING INC COM 87265K102 11,490 675,050 SH   SOLE 1 675,050 0 0
TRAVELPORT WORLDWIDE LTD SHS G9019D104 206 14,881 SH   SOLE 1 14,881 0 0
TWO HBRS INVT CORP COM 90187B101 66,078 6,777,200 SH   SOLE 1 6,777,200 0 0