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
ARES CAP CORP COM 04010L103 492 31,026 SH   SOLE 1 31,026 0 0
ARES COML REAL ESTATE CORP COM 04013V108 18,152 1,469,769 SH   SOLE 1 1,469,769 0 0
ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 266 250,000 SH   SOLE 1 250,000 0 0
AVAYA HLDGS CORP COM 05351X101 315 14,086 SH   SOLE 1 14,086 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 16,910 538,699 SH   SOLE 1 538,699 0 0
BROOKFIELD REAL ASSETS INCOM SHS BEN INT 112830104 235 10,780 SH   SOLE 1 10,780 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 8,667 231,868 SH   SOLE 1 231,868 0 0
DYNEX CAP INC COM NEW 26817Q506 463 69,909 SH   SOLE 1 69,909 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 22,126 1,556,000 SH   SOLE 1 1,556,000 0 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 43,660 2,690,074 SH   SOLE 1 2,690,074 0 0
GRANITE PT MTG TR INC COM 38741L107 11,283 681,721 SH   SOLE 1 681,721 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 8,358 361,680 SH   SOLE 1 361,680 0 0
RAIT FINANCIAL TRUST NOTE 4.000%10/0 749227AB0 6,090 6,400,000 SH   SOLE 1 6,400,000 0 0
TPG SPECIALTY LENDING INC COM 87265K102 25,207 1,413,757 SH   SOLE 1 1,413,757 0 0
TWO HBRS INVT CORP COM NEW 90187B408 57,628 3,751,793 SH   SOLE 1 3,751,793 0 0
VISTRA ENERGY CORP COM 92840M102 465 22,357 SH   SOLE 1 22,357 0 0