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
ABENGOA YIELD PLC ORD SHS G00349103 32,236 1,947,780 SH   SOLE NONE 1,947,780 0 0
AERCAP HOLDINGS NV SHS N00985106 215,099 5,624,965 SH   SOLE NONE 5,624,965 0 0
AG MORTGAGE INVESTMENT TRUST I COM 001228105 3,044 200,000 SH   SOLE NONE 200,000 0 0
ALLERGAN PLC SHS G0177J108 220,611 811,635 SH   SOLE NONE 811,635 0 0
ALTISOURCE PORTFOLIO SOLUTIONS REG SHS L0175J104 36,124 1,515,253 SH   SOLE NONE 1,515,253 0 0
AMAZON.COM INC COM 023135106 18,326 35,800 SH   SOLE NONE 35,800 0 0
AMERICAN INTERNATIONAL GROUP I COM NEW 026874784 191,218 3,365,326 SH   SOLE NONE 3,365,326 0 0
ANADARKO PETROLEUM CORP COM 032511107 28,712 475,449 SH   SOLE NONE 475,449 0 0
ARBOR REALTY TRUST INC COM 038923108 445 70,000 SH   SOLE NONE 70,000 0 0
ASHLAND INC COM 044209104 162,218 1,612,187 SH   SOLE NONE 1,612,187 0 0
ATLAS ENERGY GROUP LLC COM 04929Q102 8,793 3,943,172 SH   SOLE NONE 3,943,172 0 0
ATLAS RESOURCE PARTNERS LP COM UNT LTD PR 04941A101 10,430 3,724,897 SH   SOLE NONE 3,724,897 0 0
ATLAS RESOURCE PARTNERS LP COM UNT LTD PR 04941A101 2,461 879,000 SH   SOLE NONE 879,000 0 0
BLACK STONE MINERALS LP COM UNIT 09225M101 6,900 500,000 SH   SOLE NONE 500,000 0 0
BLUE BUFFALO PET PRODUCTS INC COM 09531U102 8,955 500,000 SH   SOLE NONE 500,000 0 0
CARBYLAN THERAPEUTICS INC COM 141384107 351 98,200 SH   SOLE NONE 98,200 0 0
CHIMERA INVESTMENT CORP COM NEW 16934Q208 187,986 14,060,276 SH   SOLE NONE 14,060,276 0 0
CIGNA CORP COM 125509109 33,755 250,000 SH   SOLE NONE 250,000 0 0
CITIGROUP INC COM NEW 172967424 150,410 3,031,850 SH   SOLE NONE 3,031,850 0 0
COMCAST CORP CL A SPL 20030N200 41,070 717,510 SH   SOLE NONE 717,510 0 0
DELTA AIR LINES INC COM NEW 247361702 44,031 981,300 SH   SOLE NONE 981,300 0 0
DISH NETWORK CORP CL A 25470M109 114,376 1,960,515 SH   SOLE NONE 1,960,515 0 0
DOW CHEMICAL CO/THE COM 260543103 115,836 2,731,979 SH   SOLE NONE 2,731,979 0 0
E*TRADE FINANCIAL CORP COM NEW 269246401 103,249 3,921,351 SH   SOLE NONE 3,921,351 0 0
EASTMAN CHEMICAL CO COM 277432100 72,280 1,116,810 SH   SOLE NONE 1,116,810 0 0
ELLINGTON FINANCIAL LLC COM 288522303 18,327 1,025,000 SH   SOLE NONE 1,025,000 0 0
ENVIVA PARTNERS LP COM UNIT 29414J107 3,750 300,000 SH   SOLE NONE 300,000 0 0
FABRINET SHS G3323L100 2,291 125,000 SH   SOLE NONE 125,000 0 0
FACEBOOK INC CL A 30303M102 95,060 1,057,400 SH   SOLE NONE 1,057,400 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 31,529 966,559 SH   SOLE NONE 966,559 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 17,941 550,000 SH   SOLE NONE 550,000 0 0
GENER8 MARITIME INC COM Y26889108 1,095 100,000 SH   SOLE NONE 100,000 0 0
GOOGLE INC. CL A 38259P508 308,172 482,749 SH   SOLE NONE 482,749 0 0
GULF COAST ULTRA DEEP ROYALTY ROYALTY TR UNT 40222T104 6,897 23,783,993 SH   SOLE NONE 23,783,993 0 0
GULFPORT ENERGY CORP COM NEW 402635304 60,818 2,049,126 SH   SOLE NONE 2,049,126 0 0
HILTON WORLDWIDE HOLDINGS INC COM 43300A104 37,392 1,630,000 SH   SOLE NONE 1,630,000 0 0
HRG GROUP INC COM 40434J100 67,166 5,725,988 SH   SOLE NONE 5,725,988 0 0
HRG GROUP INC COM 40434J100 77,817 6,634,000 SH   SOLE NONE 6,634,000 0 0
JC PENNEY CO INC COM 708160106 4,645 500,000 SH   SOLE NONE 500,000 0 0
JPMORGAN CHASE & CO COM 46625H100 67,061 1,099,900 SH   SOLE NONE 1,099,900 0 0
KAR AUCTION SERVICES INC COM 48238T109 1,669 47,000 SH   SOLE NONE 47,000 0 0
KINDER MORGAN INC/DE COM 49456B101 19,739 713,121 SH   SOLE NONE 713,121 0 0
KKR & CO LP COM UNITS 48248M102 33,220 1,979,710 SH   SOLE NONE 1,979,710 0 0
LORAL SPACE & COMMUNICATIONS I COM 543881106 62,842 1,334,788 SH   SOLE NONE 1,334,788 0 0
LYONDELLBASELL INDUSTRIES NV SHS - A - N53745100 32,346 388,022 SH   SOLE NONE 388,022 0 0
MELCO CROWN ENTERTAINMENT LTD ADR 585464100 10,320 750,000 SH   SOLE NONE 750,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 77,813 4,217,490 SH   SOLE NONE 4,217,490 0 0
MILACRON HOLDINGS CORP COM 59870L106 7,020 400,000 SH   SOLE NONE 400,000 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 179,318 2,622,376 SH   SOLE NONE 2,622,376 0 0
MVC CAPITAL INC COM 553829102 328 40,000 SH   SOLE NONE 40,000 0 0
NAVIENT CORP COM 63938C108 119,739 10,652,946 SH   SOLE NONE 10,652,946 0 0
NEW MEDIA INVESTMENT GROUP INC COM 64704V106 59,697 3,861,391 SH   SOLE NONE 3,861,391 0 0
NEW RESIDENTIAL INVESTMENT COR COM NEW 64828T201 93,886 7,166,861 SH   SOLE NONE 7,166,861 0 0
NEW SENIOR INVESTMENT GROUP IN COM 648691103 59,217 5,661,319 SH   SOLE NONE 5,661,319 0 0
NORDIC AMERICAN OFFSHORE LTD SHS Y6366T112 31,255 5,209,179 SH   SOLE NONE 5,209,179 0 0
ORION ENGINEERED CARBONS SA COM L72967109 9,101 629,800 SH   SOLE NONE 629,800 0 0
PARATEK PHARMACEUTICALS INC COM 699374302 2,700 142,100 SH   SOLE NONE 142,100 0 0
PENNYMAC FINANCIAL SERVICES IN CL A 70932B101 51,736 3,233,500 SH   SOLE NONE 3,233,500 0 0
PENNYMAC MORTGAGE INVESTMENT T COM 70931T103 28,775 1,860,030 SH   SOLE NONE 1,860,030 0 0
PFIZER INC COM 717081103 151,729 4,830,595 SH   SOLE NONE 4,830,595 0 0
PRICELINE GROUP INC/THE COM NEW 741503403 142,270 115,025 SH   SOLE NONE 115,025 0 0
REALOGY HOLDINGS CORP COM 75605Y106 101,962 2,709,590 SH   SOLE NONE 2,709,590 0 0
RESOURCE AMERICA INC CL A 761195205 5,182 779,187 SH   SOLE NONE 779,187 0 0
SEARS HOLDINGS CORP COM 812350106 6,780 300,000 SH   SOLE NONE 300,000 0 0
SHIRE PLC SPONSORED ADR 82481R106 9,311 45,367 SH   SOLE NONE 45,367 0 0
SIRIUS XM HOLDINGS INC COM 82968B103 156,886 41,947,998 SH   SOLE NONE 41,947,998 0 0
SPORTSMAN'S WAREHOUSE HOLDINGS COM 84920Y106 1,848 150,000 SH   SOLE NONE 150,000 0 0
SPRINGLEAF HOLDINGS INC COM 85172J101 114,009 2,607,700 SH   SOLE NONE 2,607,700 0 0
SUMMIT MATERIALS INC CL A 86614U100 17,529 933,900 SH   SOLE NONE 933,900 0 0
SUNEDISON INC COM 86732Y109 38,240 5,325,959 SH   SOLE NONE 5,325,959 0 0
SUNRUN INC COM 86771W105 4,407 425,000 SH   SOLE NONE 425,000 0 0
TARGA RESOURCES CORP COM 87612G101 100,606 1,952,748 SH   SOLE NONE 1,952,748 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 30,499 1,050,232 SH   SOLE NONE 1,050,232 0 0
TEEKAY LNG PARTNERS LP PRTNRSP UNITS Y8564M105 478 20,000 SH   SOLE NONE 20,000 0 0
TERRAFORM GLOBAL INC CL A 88104M101 4,995 750,000 SH   SOLE NONE 750,000 0 0
TERRAFORM GLOBAL INC CL A 88104M101 33,651 5,263,155 SH   SOLE NONE 5,263,155 0 0
THL CREDIT INC COM 872438106 6,573 601,965 SH   SOLE NONE 601,965 0 0
TIME WARNER INC COM NEW 887317303 77,502 1,127,300 SH   SOLE NONE 1,127,300 0 0
TRANSOCEAN PARTNERS LLC COM UNIT RP LT Y8977Y100 10,699 1,117,991 SH   SOLE NONE 1,117,991 0 0
TRIBUNE MEDIA CO CL A 896047503 126,455 3,552,117 SH   SOLE NONE 3,552,117 0 0
TWO HARBORS INVESTMENT CORP COM 90187B101 882 100,000 SH   SOLE NONE 100,000 0 0
UNITED CONTINENTAL HOLDINGS IN COM 910047109 147,767 2,785,428 SH   SOLE NONE 2,785,428 0 0
VALEANT PHARMACEUTICALS INTERN COM 91911K102 86,499 484,915 SH   SOLE NONE 484,915 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 82,053 987,400 SH   SOLE NONE 987,400 0 0
WCI COMMUNITIES INC COM PAR $0.01 92923C807 1,697 75,000 SH   SOLE NONE 75,000 0 0
WILLIAM LYON HOMES CL A NEW 552074700 927 45,000 SH   SOLE NONE 45,000 0 0