Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	LEVEL 3 COMMUNICATIONS INC	1,930,211	$166M	27.1%	$22.20	—	COM NEW	52729N308
—	CHIMERA INVT CORP	4,293,875	$58.35M	9.6%	$13.69	—	COM NEW	16934Q208
—	SPX CORP	3,250	$23.95M	3.9%	—	—	Put	784635104
—	WEST CORP	1,034,345	$23.6M	3.9%	$23.48	—	COM	952355204
SUI	SUN CMNTYS INC	270,148	$19.34M	3.2%	$67.76	—	COM	866674104
—	CYS INVTS INC	2,139,532	$17.42M	2.9%	$8.46	—	COM	12673A108
EPD	ENTERPRISE PRODS PARTNERS L	679,022	$16.72M	2.7%	$51.23	—	COM	293792107
—	SPX CORP	600	$15.81M	2.6%	—	—	Call	784635104
SYK	STRYKER CORP	131,220	$14.08M	2.3%	$56.92	+54.9%	COM	863667101
—	ANNALY CAP MGMT INC	1,361,822	$13.97M	2.3%	$12.54	—	COM	035710409
BKD	BROOKDALE SR LIVING INC	810,940	$12.88M	2.1%	$25.17	-39.4%	COM	112463104
GS	GOLDMAN SACHS GROUP INC	69,400	$10.89M	1.8%	$120.06	+5.1%	COM	38141G104
—	TWO HBRS INVT CORP	1,307,654	$10.38M	1.7%	$10.07	—	COM	90187B101
—	MFA FINL INC	1,218,300	$8.345M	1.4%	$7.97	—	COM	55272X102
SLRC	SOLAR CAP LTD	479,013	$8.277M	1.4%	$6.98	-5.0%	COM	83413U100
—	BARRICK GOLD CORP	582,197	$7.906M	1.3%	$14.59	—	COM	067901108
—	ELLINGTON FINANCIAL LLC	442,344	$7.706M	1.3%	$22.62	—	COM	288522303
—	MVC CAPITAL INC	990,223	$7.387M	1.2%	$11.38	—	COM	553829102
—	SOLAR SR CAP LTD	462,645	$6.745M	1.1%	$16.13	—	COM	83416M105
ARI	APOLLO COML REAL EST FIN INC	389,286	$6.345M	1.0%	$15.82	—	COM	03762U105
—	ZAIS FINL CORP	377,284	$5.629M	0.9%	$17.26	—	COM	98886K108
—	ALLIED WRLD ASSUR COM HLDG A	150,440	$5.256M	0.9%	$55.85	—	SHS	H01531104
PNNT	PENNANTPARK INVT CORP	748,056	$5.243M	0.9%	$2.40	-28.9%	COM	708062104
NEM	NEWMONT MINING CORP	192,763	$5.124M	0.8%	$17.09	+6.3%	COM	651639106
NMFC	NEW MTN FIN CORP	384,462	$4.859M	0.8%	$4.01	+5.4%	COM	647551100
—	THL CR INC	443,215	$4.8M	0.8%	$11.82	—	COM	872438106
GSBD	GOLDMAN SACHS BDC INC	244,902	$4.8M	0.8%	$22.59	-16.7%	SHS	38147U107
SYF	SYNCHRONY FINL	140,362	$4.023M	0.7%	$25.00	-11.3%	COM	87165B103
FDUS	FIDUS INVT CORP	247,129	$3.833M	0.6%	$4.61	+0.2%	COM	316500107
CMCSA	COMCAST CORP NEW	60,000	$3.665M	0.6%	$23.76	-4.3%	CL A	20030N101
PFLT	PENNANTPARK FLOATING RATE CA	309,184	$3.617M	0.6%	$4.18	-4.1%	COM	70806A106
CSCO	CISCO SYS INC	120,000	$3.416M	0.6%	$15.24	+24.3%	COM	17275R102
C	CITIGROUP INC	79,400	$3.315M	0.5%	$31.24	0.0%	COM NEW	172967424
STWD	STARWOOD PPTY TR INC	160,853	$3.045M	0.5%	$23.47	—	COM	85571B105
BXMT	BLACKSTONE MTG TR INC	111,249	$2.988M	0.5%	$27.85	—	COM CL A	09257W100
—	MEDLEY CAP CORP	444,851	$2.936M	0.5%	$8.74	—	COM	58503F106
ZBH	ZIMMER BIOMET HLDGS INC	27,100	$2.89M	0.5%	$67.30	+32.5%	COM	98956P102
—	NUSTAR ENERGY LP	70,406	$2.844M	0.5%	$45.65	—	UNIT COM	67058H102
—	FACTORSHARES TR	116,600	$2.795M	0.5%	$25.72	—	ISE CYBER SEC	30304R407
NEWT	NEWTEK BUSINESS SVCS CORP	221,547	$2.769M	0.5%	$14.08	-18.8%	COM NEW	652526203
—	GENERAL ELECTRIC CO	79,952	$2.542M	0.4%	$23.19	—	COM	369604103
PFE	PFIZER INC	84,247	$2.527M	0.4%	$16.46	+13.5%	COM	717081103
EXC	EXELON CORP	70,000	$2.51M	0.4%	$15.41	+2.8%	COM	30161N101
—	TCP CAP CORP	167,136	$2.492M	0.4%	$14.18	—	COM	87238Q103
GM	GENERAL MTRS CO	78,479	$2.467M	0.4%	$26.01	-6.6%	COM	37045V100
HRZN	HORIZON TECHNOLOGY FIN CORP	206,354	$2.396M	0.4%	$3.32	+3.7%	COM	44045A102
MSFT	MICROSOFT CORP	42,400	$2.342M	0.4%	$26.70	+72.5%	COM	594918104
—	DOW CHEM CO	45,000	$2.289M	0.4%	$51.48	—	COM	260543103
—	FIREEYE INC	119,800	$2.155M	0.4%	$18.30	—	COM	31816Q101
SYNA	SYNAPTICS INC	25,073	$1.999M	0.3%	$66.96	+13.3%	COM	87157D109
—	ENERGY TRANSFER PRTNRS L P	61,380	$1.985M	0.3%	$52.20	—	UNIT LTD PARTN	29273R109
XOM	EXXON MOBIL CORP	23,240	$1.943M	0.3%	$53.69	-3.2%	COM	30231G102
AXP	AMERICAN EXPRESS CO	30,000	$1.842M	0.3%	$50.49	0.0%	COM	025816109
—	BUCKEYE PARTNERS L P	26,963	$1.832M	0.3%	$69.06	—	UNIT LTD PARTN	118230101
—	TC PIPELINES LP	38,000	$1.832M	0.3%	$48.29	—	UT COM LTD PRT	87233Q108
HTGC	HERCULES CAPITAL INC	142,502	$1.711M	0.3%	$11.24	-1.1%	COM	427096508
—	MAGELLAN MIDSTREAM PRTNRS LP	24,600	$1.692M	0.3%	$54.51	—	COM UNIT RP LP	559080106
—	AMERICAN CAPITAL AGENCY CORP	87,633	$1.633M	0.3%	$20.16	—	COM	02503X105
—	MB FINANCIAL INC NEW	50,000	$1.623M	0.3%	$26.80	—	COM	55264U108
KGC	KINROSS GOLD CORP	463,352	$1.575M	0.3%	$4.62	-46.3%	COM NO PAR	496902404
AAPL	APPLE INC	1,500	$1.44M	0.2%	—	—	Call	037833100
TRGP	TARGA RES CORP	47,178	$1.409M	0.2%	$15.07	0.0%	COM	87612G101
TR	TOOTSIE ROLL INDS INC	39,898	$1.394M	0.2%	$22.21	+16.6%	COM	890516107
LLY	LILLY ELI & CO	18,000	$1.296M	0.2%	$42.21	+51.6%	COM	532457108
QCOM	QUALCOMM INC	25,000	$1.279M	0.2%	$37.73	-2.2%	COM	747525103
ABBV	ABBVIE INC	22,000	$1.257M	0.2%	$26.55	+39.8%	COM	00287Y109
—	JPMORGAN CHASE & CO	70,200	$1.243M	0.2%	$23.69	—	*W EXP 10/28/201	46634E114
RIG	TRANSOCEAN LTD	121,138	$1.107M	0.2%	$24.77	-59.9%	REG SHS	H8817H100
—	E M C CORP MASS	40,000	$1.066M	0.2%	$23.63	—	COM	268648102
—	SOLARCITY CORP	500	$1.03M	0.2%	—	—	Put	83416T100
ZTS	ZOETIS INC	21,174	$939K	0.2%	$29.32	+34.1%	CL A	98978V103
ABT	ABBOTT LABS	22,000	$920K	0.2%	$28.85	+14.4%	COM	002824100
—	TPG SPECIALTY LENDING INC	55,220	$891K	0.1%	$16.14	—	COM	87265K102
—	FS INVT CORP	90,600	$831K	0.1%	$9.24	—	COM	302635107
—	CALUMET SPECIALTY PRODS PTNR	69,547	$817K	0.1%	$36.38	—	UT LTD PARTNER	131476103
MDLZ	MONDELEZ INTL INC	20,000	$802K	0.1%	$23.16	+40.0%	CL A	609207105
—	INVESCO MORTGAGE CAPITAL INC	60,834	$741K	0.1%	$16.57	—	COM	46131B100
—	BOARDWALK PIPELINE PARTNERS	49,796	$734K	0.1%	$30.20	—	UT LTD PARTNER	096627104
—	ISTAR INC	75,000	$725K	0.1%	$11.29	—	COM	45031U101
—	LAYNE CHRISTENSEN CO	1,000,000	$724K	0.1%	$0.70	—	NOTE 4.250%11/1	521050AB0
—	PLAINS GP HLDGS L P	82,000	$713K	0.1%	$25.78	—	SHS A REP LTPN	72651A108
MCD	MCDONALDS CORP	250	$687K	0.1%	—	—	Call	580135101
—	GENERAL GROWTH PPTYS INC NEW	20,719	$615K	0.1%	$19.87	—	COM	370023103
—	AMERICAN CAP LTD	38,000	$579K	0.1%	$14.79	—	COM	02503Y103
—	TOTAL S A	12,500	$568K	0.1%	$48.70	—	SPONSORED ADR	89151E109
—	COLONY STARWOOD HOMES	22,350	$553K	0.1%	$24.74	—	COM	19625X102
—	SILVER BAY RLTY TR CORP	36,791	$546K	0.1%	$16.55	—	COM	82735Q102
—	NUVEEN PREM INCOME MUN FD	37,251	$543K	0.1%	$12.32	—	COM	67062T100
FSLR	FIRST SOLAR INC	400	$543K	0.1%	—	—	Call	336433107
—	TRANSATLANTIC PETROLEUM LTD	686,528	$515K	0.1%	$8.35	—	SHS NEW	G89982113
CFG	CITIZENS FINL GROUP INC	24,000	$503K	0.1%	$17.55	-16.3%	COM	174610105
PMT	PENNYMAC MTG INVT TR	35,500	$484K	0.1%	$15.46	—	COM	70931T103
—	APOLLO INVT CORP	80,800	$448K	0.1%	$8.48	—	COM	03761U106
EARN	ELLINGTON RESIDENTIAL MTG RE	36,573	$438K	0.1%	$15.62	—	COM SHS BEN INT	288578107
KBR	KBR INC	27,000	$418K	0.1%	$26.54	-53.8%	COM	48242W106
—	INVESCO QUALITY MUNI INC TRS	30,674	$406K	0.1%	$11.12	—	COM	46133G107
—	INVESCO MUN OPPORTUNITY TR	27,800	$388K	0.1%	$11.73	—	COM	46132C107
—	LEVEL 3 COMMUNICATIONS INC	500	$380K	0.1%	$22.20	—	Call	52729N308
—	INVESCO MUN TR	26,900	$358K	0.1%	$11.60	—	COM	46131J103
—	INVESCO ADVANTAGE MUNICIPAL	28,300	$351K	0.1%	$10.53	—	SH BEN INT	46132E103
—	INVESCO TR INVT GRADE MUNS	24,400	$341K	0.1%	$12.17	—	COM	46131M106
—	EATON VANCE MUN BD FD	25,500	$339K	0.1%	$11.29	—	COM	27827X101
—	AMERICAN CAP LTD	1,800	$328K	0.1%	$14.79	—	Call	02503Y103
EPR	EPR PPTYS	4,400	$293K	0.0%	$57.56	—	COM SH BEN INT	26884U109
COP	CONOCOPHILLIPS	7,200	$290K	0.0%	$39.96	-29.7%	COM	20825C104
—	PENNEY J C INC	25,000	$277K	0.0%	$8.62	—	COM	708160106
—	ZAIS GROUP HLDGS INC	54,355	$264K	0.0%	$9.16	—	COM	98887G106
—	PUTNAM MANAGED MUN INCOM TR	32,800	$251K	0.0%	$6.65	—	COM	746823103
GLW	CORNING INC	1,500	$246K	0.0%	—	—	Call	219350105
RITM	NEW RESIDENTIAL INVT CORP	19,646	$228K	0.0%	$15.02	—	COM NEW	64828T201
VALE	VALE S A	53,100	$224K	0.0%	$13.15	—	ADR	91912E105
ARCC	ARES CAP CORP	13,800	$205K	0.0%	$5.76	-6.8%	COM	04010L103
—	FIFTH STREET FINANCE CORP	40,000	$200K	0.0%	$6.38	—	COM	31678A103
BKD	BROOKDALE SR LIVING INC	600	$195K	0.0%	$25.17	-39.4%	Call	112463104
—	OCWEN FINL CORP	76,400	$189K	0.0%	$13.85	—	COM NEW	675746309
AXP	AMERICAN EXPRESS CO	300	$142K	0.0%	$50.49	0.0%	Put	025816109
—	VALE S A	37,500	$117K	0.0%	$12.16	—	ADR REPSTG PFD	91912E204
QCOM	QUALCOMM INC	150	$72,000	0.0%	$37.73	-2.2%	Call	747525103
—	HI-CRUSH PARTNERS LP	10,000	$50,000	0.0%	$35.10	—	COM UNIT LTD	428337109
—	LEVEL 3 COMMUNICATIONS INC	100	$9,000	0.0%	$22.20	—	Put	52729N308
—	OCWEN FINL CORP	400	$3,000	0.0%	$13.85	—	Call	675746309