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
ARBOR REALTY TRUST INC COM 038923108 501 70,000 SH   SOLE NONE 70,000 0 0
AERCAP HOLDINGS NV SHS N00985106 241,694 5,599,965 SH   SOLE NONE 5,599,965 0 0
AETNA INC COM 00817Y108 17,299 160,000 SH   SOLE NONE 160,000 0 0
ALLERGAN PLC SHS G0177J108 244,306 781,780 SH   SOLE NONE 781,780 0 0
AMERICAN INTERNATIONAL GROUP I COM 026874784 253,862 4,096,526 SH   SOLE NONE 4,096,526 0 0
AMAZON.COM INC COM 023135106 24,062 35,600 SH   SOLE NONE 35,600 0 0
ANADARKO PETROLEUM CORP COM 032511107 13,217 272,057 SH   SOLE NONE 272,057 0 0
ASHLAND INC COM 044209104 156,445 1,523,321 SH   SOLE NONE 1,523,321 0 0
ALTISOURCE PORTFOLIO SOLUTIONS REG SHS L0175J104 46,233 1,662,462 SH   SOLE NONE 1,662,462 0 0
ATLAS ENERGY GROUP LLC COM 04929Q102 3,746 3,943,172 SH   SOLE NONE 3,943,172 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 17,031 475,851 SH   SOLE NONE 475,851 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 12,963 362,206 SH   SOLE NONE 362,206 0 0
CITIGROUP INC COM 172967424 154,306 2,981,750 SH   SOLE NONE 2,981,750 0 0
CARBYLAN THERAPEUTICS INC COM 141384107 353 97,600 SH   SOLE NONE 97,600 0 0
CHIMERA INVESTMENT CORP COM 16934Q208 182,408 13,372,991 SH   SOLE NONE 13,372,991 0 0
DELTA AIR LINES INC COM 247361702 49,240 971,400 SH   SOLE NONE 971,400 0 0
DISH NETWORK CORP CL A 25470M109 103,194 1,804,715 SH   SOLE NONE 1,804,715 0 0
DOW CHEMICAL CO/THE COM 260543103 135,278 2,627,779 SH   SOLE NONE 2,627,779 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 48,285 1,500,000 SH   SOLE NONE 1,500,000 0 0
ELLINGTON FINANCIAL LLC COM 288522303 19,494 1,161,740 SH   SOLE NONE 1,161,740 0 0
EASTMAN CHEMICAL CO COM 277432100 73,624 1,090,562 SH   SOLE NONE 1,090,562 0 0
E*TRADE FINANCIAL CORP COM 269246401 100,347 3,385,524 SH   SOLE NONE 3,385,524 0 0
ENVIVA PARTNERS LP COM UNIT 29414J107 3,902 215,000 SH   SOLE NONE 215,000 0 0
FACEBOOK INC CL A 30303M102 103,142 985,500 SH   SOLE NONE 985,500 0 0
FIRST DATA CORP COM CL A 32008D106 242,035 15,416,663 SH   SOLE NONE 15,416,663 0 0
TERRAFORM GLOBAL INC CL A 88104M101 4,193 750,000 SH   SOLE NONE 750,000 0 0
TERRAFORM GLOBAL INC CL A 88104M101 29,127 5,263,155 SH   SOLE NONE 5,263,155 0 0
ALPHABET INC CAP STK CL A 02079K305 332,692 427,619 SH   SOLE NONE 427,619 0 0
GULFPORT ENERGY CORP COM 402635304 14,017 570,500 SH   SOLE NONE 570,500 0 0
GULF COAST ULTRA DEEP ROYALTY ROYALTY TR UNIT 40222T104 751 5,000,000 SH   SOLE NONE 5,000,000 0 0
HC2 HOLDINGS INC COM 404139107 2,645 500,000 SH   SOLE NONE 500,000 0 0
HILTON WORLDWIDE HOLDINGS INC COM 43300A104 20,974 980,100 SH   SOLE NONE 980,100 0 0
HRG GROUP INC COM 40434J100 75,476 5,566,088 SH   SOLE NONE 5,566,088 0 0
HRG GROUP INC COM 40434J100 89,374 6,591,000 SH   SOLE NONE 6,591,000 0 0
ICONIX BRAND GROUP INC COM 451055107 10,106 1,479,600 SH   SOLE NONE 1,479,600 0 0
JPMORGAN CHASE & CO COM 46625H100 72,382 1,096,200 SH   SOLE NONE 1,096,200 0 0
KKR & CO LP COM UNITS 48248M102 7,453 478,069 SH   SOLE NONE 478,069 0 0
LORAL SPACE & COMMUNICATIONS I COM 543881106 67,540 1,659,047 SH   SOLE NONE 1,659,047 0 0
MGM RESORTS INTERNATIONAL COM 552953101 88,603 3,899,790 SH   SOLE NONE 3,899,790 0 0
MICROSOFT CORP COM 594918104 44,883 809,000 SH   SOLE NONE 809,000 0 0
MOTOROLA SOLUTIONS INC COM 620076307 130,337 1,904,121 SH   SOLE NONE 1,904,121 0 0
MVC CAPITAL INC COM 553829102 737 100,000 SH   SOLE NONE 100,000 0 0
NORDIC AMERICAN OFFSHORE LTD SHS Y6366T112 19,334 3,668,679 SH   SOLE NONE 3,668,679 0 0
NAVIENT CORP COM 63938C108 173,592 15,160,911 SH   SOLE NONE 15,160,911 0 0
NEW MEDIA INVESTMENT GROUP INC COM 64704V106 74,641 3,835,635 SH   SOLE NONE 3,835,635 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 8,712 527,061 SH   SOLE NONE 527,061 0 0
NORTHSTAR REALTY FINANCE CORP COM 66704R803 852 50,000 SH   SOLE NONE 50,000 0 0
NEW RESIDENTIAL INVESTMENT COR COM 64828T201 88,986 7,317,930 SH   SOLE NONE 7,317,930 0 0
ORION ENGINEERED CARBONS SA COM L72967109 6,977 553,750 SH   SOLE NONE 553,750 0 0
ONEMAIN HOLDINGS INC COM 68268W103 104,602 2,518,100 SH   SOLE NONE 2,518,100 0 0
PFIZER INC COM 717081103 41,822 1,295,600 SH   SOLE NONE 1,295,600 0 0
PENNYMAC FINANCIAL SERVICES IN CL A 70932B101 48,326 3,146,200 SH   SOLE NONE 3,146,200 0 0
PENNYMAC MORTGAGE INVESTMENT T COM 70931T103 763 50,000 SH   SOLE NONE 50,000 0 0
PARATEK PHARMACEUTICALS INC COM 699374302 2,250 118,600 SH   SOLE NONE 118,600 0 0
RESOURCE AMERICA INC CL A 761195205 4,776 779,187 SH   SOLE NONE 779,187 0 0
TRANSOCEAN PARTNERS LLC COM UNIT RP LT Y8977Y100 9,741 1,103,191 SH   SOLE NONE 1,103,191 0 0
REALOGY HOLDINGS CORP COM 75605Y106 105,288 2,871,240 SH   SOLE NONE 2,871,240 0 0
SIRIUS XM HOLDINGS INC COM 82968B103 130,866 32,153,846 SH   SOLE NONE 32,153,846 0 0
NEW SENIOR INVESTMENT GROUP IN COM 648691103 63,362 6,426,185 SH   SOLE NONE 6,426,185 0 0
SUMMIT MATERIALS INC CL A 86614U100 20,194 1,007,688 SH   SOLE NONE 1,007,688 0 0
SYNCHRONY FINANCIAL COM 87165B103 28,777 946,300 SH   SOLE NONE 946,300 0 0
THL CREDIT INC COM 872438106 321 30,000 SH   SOLE NONE 30,000 0 0
TEEKAY LNG PARTNERS LP PRTNSP UNITS Y8564M105 263 20,000 SH   SOLE NONE 20,000 0 0
TRIBUNE MEDIA CO CL A 896047503 124,745 3,689,595 SH   SOLE NONE 3,689,595 0 0
TARGA RESOURCES CORP COM 87612G101 33,897 1,252,671 SH   SOLE NONE 1,252,671 0 0
TIME WARNER INC COM 887317303 7,062 109,200 SH   SOLE NONE 109,200 0 0
UNITED CONTINENTAL HOLDINGS IN COM 910047109 147,446 2,573,228 SH   SOLE NONE 2,573,228 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 93,548 1,098,557 SH   SOLE NONE 1,098,557 0 0