Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	87,478	$17.98M	34.5%	$203.25	—	TR UNIT	78462F103
GM	GENERAL MTRS CO	118,353	$3.72M	7.1%	$24.46	-0.7%	COM	37045V100
—	NORTHSTAR RLTY FIN CORP	282,348	$3.704M	7.1%	$13.12	—	COM	66704R803
GOOG	ALPHABET INC	3,832	$2.855M	5.5%	$35.61	-0.2%	CAP STK CL C	02079K107
AAPL	APPLE INC	25,070	$2.732M	5.2%	$23.63	-4.6%	COM	037833100
—	ISHARES TR	96,542	$2.221M	4.3%	$22.76	—	HDG MSCI GERMN	46434V704
—	AG MTG INVT TR INC	139,486	$1.823M	3.5%	$13.00	—	COM	001228105
C	CITIGROUP INC	43,431	$1.813M	3.5%	$39.68	-21.3%	COM NEW	172967424
PMT	PENNYMAC MTG INVT TR	119	$1.624M	3.1%	$15.47	—	COM	70931T103
—	APOLLO RESIDENTIAL MTG INC	98,015	$1.315M	2.5%	$13.42	—	COM	03763V102
BIDU	BAIDU INC	6,229	$1.189M	2.3%	$148.69	—	SPON ADR REP A	056752108
—	MARKET VECTORS ETF TR	39,280	$1.094M	2.1%	$23.93	—	JR GOLD MINERS E	57061R544
MU	MICRON TECHNOLOGY INC	103,576	$1.084M	2.1%	$21.47	-49.2%	COM	595112103
—	ST JUDE MED INC	19,352	$1.064M	2.0%	$67.63	—	COM	790849103
—	ALTISOURCE RESIDENTIAL CORP	65,260	$783K	1.5%	$13.30	—	CL B	02153W100
BABA	ALIBABA GROUP HLDG LTD	8,460	$669K	1.3%	$94.64	—	SPONSORED ADS	01609W102
—	VALEANT PHARMACEUTICALS INTL	18,715	$492K	0.9%	$41.97	—	COM	91911K102
—	MARKET VECTORS ETF TR	23,481	$469K	0.9%	$13.73	—	GOLD MINER ETF	57060U100
—	INVESCO MORTGAGE CAPITAL INC	36,339	$443K	0.8%	$12.25	—	COM	46131B100
—	MARVELL TECHNOLOGY GROUP LTD	40,476	$417K	0.8%	$10.07	—	ORD	G5876H105
—	GENERAL MTRS CO	16,599	$360K	0.7%	$25.07	—	*W EXP 07/10/201	37045V118
—	EMERGENT CAP INC	86,341	$347K	0.7%	$5.27	—	COM	29102N105
—	IAC INTERACTIVECORP	7,331	$345K	0.7%	$60.98	—	COM	44919P508
—	UCP INC	38,855	$312K	0.6%	$9.89	—	CL A	90265Y106
—	CLOVIS ONCOLOGY INC	14,666	$282K	0.5%	$19.23	—	COM	189464100
—	SENIOR HSG PPTYS TR	14,877	$266K	0.5%	$17.88	—	SH BEN INT	81721M109
—	GENERAL MTRS CO	16,814	$230K	0.4%	$17.00	—	*W EXP 07/10/201	37045V126
—	VEREIT INC	25,823	$229K	0.4%	$7.74	—	COM	92339V100
AZN	ASTRAZENECA PLC	7,679	$216K	0.4%	$63.69	—	SPONSORED ADR	046353108
MTG	MGIC INVT CORP WIS	24,765	$190K	0.4%	$8.78	-18.4%	COM	552848103
—	BMC STK HLDGS INC	11,160	$185K	0.4%	$16.73	—	COM	05591B109
AG	FIRST MAJESTIC SILVER CORP	222,374	$145K	0.3%	$4.42	-2.8%	COM	32076V103
—	PICO HLDGS INC	13,505	$138K	0.3%	$10.31	—	COM NEW	693366205
GHC	GRAHAM HLDGS CO	281	$135K	0.3%	$431.34	0.0%	COM	384637104
XBI	SPDR SERIES TRUST	2,505	$129K	0.2%	$51.50	—	S&P BIOTECH	78464A870
—	GRAN TIERRA ENERGY INC	45,936	$113K	0.2%	$2.18	—	COM	38500T101
RL	RALPH LAUREN CORP	1,156	$111K	0.2%	$80.25	0.0%	CL A	751212101
—	ALTISOURCE ASSET MGMT CORP	9,207	$109K	0.2%	$11.84	—	COM	02153X108
NBIS	YANDEX N V	6,693	$103K	0.2%	$15.39	—	SHS CLASS A	N97284108
—	MORGANS HOTEL GROUP CO	74,196	$102K	0.2%	$3.33	—	COM	61748W108
—	BLACKSTONE GROUP L P	3,505	$98,000	0.2%	$27.96	—	COM UNIT LTD	09253U108
—	MARKET VECTORS ETF TR	3,554	$95,000	0.2%	$26.73	—	OIL SVCS ETF	57060U191
—	GULFPORT ENERGY CORP	2,317	$66,000	0.1%	$28.49	—	COM NEW	402635304
EQS	EQUUS TOTAL RETURN INC	32,573	$52,000	0.1%	$2.10	-24.1%	COM	294766100
—	LEJU HLDGS LTD	9,225	$48,000	0.1%	$5.20	—	SPONSORED ADS	50187J108
AAL	AMERICAN AIRLS GROUP INC	1,145	$47,000	0.1%	$38.53	0.0%	COM	02376R102
TWI	TITAN INTL INC ILL	8,016	$43,000	0.1%	$10.22	-59.9%	COM	88830M102
FCX	FREEPORT-MCMORAN INC	3,885	$40,000	0.1%	$10.82	-41.1%	CL B	35671D857
—	CLIFFS NAT RES INC	12,114	$36,000	0.1%	$2.78	—	COM	18683K101
—	WALTER INVT MGMT CORP	4,337	$35,000	0.1%	$8.07	—	COM	93317W102
—	MECHEL OAO	94,298	$22,000	0.0%	$0.09	—	SPON ADR PFD	583840509
—	SPDR S&P 500 ETF TR	500	$18,000	0.0%	—	—	Put	78462F953
—	EUROSEAS LTD	6,545	$12,000	0.0%	$1.83	—	SHS NEW	Y23592309
—	YUME INC	2,832	$11,000	0.0%	$3.88	—	COM	98872B104
—	GENERAL MOLY INC	20,895	$7,000	0.0%	$0.58	—	COM	370373102
PJT	PJT PARTNERS INC	87	$2,000	0.0%	$23.14	0.0%	COM CL A	69343T107
—	GLOBUS MARITIME LIMITED NEW	4,398	$1,000	0.0%	$0.23	—	COM	Y27265209