Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	LEVEL 3 COMMUNICATIONS INC	1,930,211	$99.39M	18.1%	$22.20	—	COM NEW	52729N308
—	CHIMERA INVT CORP	4,293,875	$67.41M	12.3%	$13.69	—	COM NEW	16934Q208
SUI	SUN CMNTYS INC	293,657	$22.51M	4.1%	$68.47	—	COM	866674104
—	WEST CORP	1,034,345	$20.34M	3.7%	$23.48	—	COM	952355204
EPD	ENTERPRISE PRODS PARTNERS L	679,022	$19.87M	3.6%	$51.23	—	COM	293792107
—	CYS INVTS INC	2,139,532	$17.91M	3.3%	$8.46	—	COM	12673A108
—	SPX CORP	3,515	$16.73M	3.1%	—	—	Put	784635104
SYK	STRYKER CORP	131,220	$15.72M	2.9%	$56.92	+76.3%	COM	863667101
—	ANNALY CAP MGMT INC	1,361,822	$15.07M	2.7%	$12.54	—	COM	035710409
BKD	BROOKDALE SR LIVING INC	810,940	$12.52M	2.3%	$25.17	-30.7%	COM	112463104
—	BARRICK GOLD CORP	582,197	$12.43M	2.3%	$14.59	—	COM	067901108
—	TWO HBRS INVT CORP	1,307,654	$11.19M	2.0%	$10.07	—	COM	90187B101
GS	GOLDMAN SACHS GROUP INC	69,400	$10.31M	1.9%	$120.06	+6.5%	COM	38141G104
SLRC	SOLAR CAP LTD	479,013	$9.125M	1.7%	$6.98	+5.9%	COM	83413U100
—	MFA FINL INC	1,218,300	$8.857M	1.6%	$7.97	—	COM	55272X102
—	MVC CAPITAL INC	995,423	$8.003M	1.5%	$11.38	—	COM	553829102
—	ELLINGTON FINANCIAL LLC	442,344	$7.577M	1.4%	$22.62	—	COM	288522303
NEM	NEWMONT MINING CORP	192,763	$7.541M	1.4%	$17.09	+52.2%	COM	651639106
—	SOLAR SR CAP LTD	462,645	$7.453M	1.4%	$16.13	—	COM	83416M105
ARI	APOLLO COML REAL EST FIN INC	389,286	$6.256M	1.1%	$15.82	—	COM	03762U105
—	ALLIED WRLD ASSUR COM HLDG A	150,440	$5.286M	1.0%	$55.85	—	SHS	H01531104
—	ZAIS FINL CORP	377,284	$5.173M	0.9%	$17.26	—	COM	98886K108
PNNT	PENNANTPARK INVT CORP	748,056	$5.109M	0.9%	$2.40	-15.8%	COM	708062104
NMFC	NEW MTN FIN CORP	384,462	$4.96M	0.9%	$4.01	+11.0%	COM	647551100
—	THL CR INC	443,215	$4.933M	0.9%	$11.82	—	COM	872438106
GSBD	GOLDMAN SACHS BDC INC	244,902	$4.896M	0.9%	$22.59	-12.6%	SHS	38147U107
FDUS	FIDUS INVT CORP	299,230	$4.569M	0.8%	$4.72	+11.3%	COM	316500107
CMCSA	COMCAST CORP NEW	60,000	$3.911M	0.7%	$23.76	+4.0%	CL A	20030N101
PFLT	PENNANTPARK FLOATING RATE CA	309,184	$3.834M	0.7%	$4.18	+6.4%	COM	70806A106
SYF	SYNCHRONY FINL	140,362	$3.548M	0.6%	$25.00	-7.1%	COM	87165B103
—	NUSTAR ENERGY LP	70,406	$3.506M	0.6%	$45.65	—	UNIT COM	67058H102
CSCO	CISCO SYS INC	120,000	$3.443M	0.6%	$15.24	+36.9%	COM	17275R102
C	CITIGROUP INC	79,400	$3.366M	0.6%	$31.24	+5.9%	COM NEW	172967424
STWD	STARWOOD PPTY TR INC	160,853	$3.333M	0.6%	$23.47	—	COM	85571B105
ZBH	ZIMMER BIOMET HLDGS INC	27,100	$3.262M	0.6%	$67.30	+55.4%	COM	98956P102
BXMT	BLACKSTONE MTG TR INC	111,249	$3.078M	0.6%	$27.85	—	COM CL A	09257W100
—	MEDLEY CAP CORP	444,851	$2.981M	0.5%	$8.74	—	COM	58503F106
PFE	PFIZER INC	84,247	$2.966M	0.5%	$16.46	+27.9%	COM	717081103
NEWT	NEWTEK BUSINESS SVCS CORP	226,647	$2.883M	0.5%	$14.05	-9.9%	COM NEW	652526203
—	FACTORSHARES TR	116,600	$2.786M	0.5%	$25.72	—	ISE CYBER SEC	30304R407
—	TCP CAP CORP	167,136	$2.554M	0.5%	$14.18	—	COM	87238Q103
EXC	EXELON CORP	70,000	$2.545M	0.5%	$15.41	+14.6%	COM	30161N101
HRZN	HORIZON TECHNOLOGY FIN CORP	206,354	$2.518M	0.5%	$3.32	+17.2%	COM	44045A102
—	GENERAL ELECTRIC CO	79,952	$2.517M	0.5%	$23.19	—	COM	369604103
—	ENERGY TRANSFER PRTNRS L P	61,380	$2.337M	0.4%	$52.20	—	UNIT LTD PARTN	29273R109
KGC	KINROSS GOLD CORP	463,352	$2.266M	0.4%	$4.62	+3.2%	COM NO PAR	496902404
GM	GENERAL MTRS CO	78,479	$2.221M	0.4%	$26.01	-4.6%	COM	37045V100
XOM	EXXON MOBIL CORP	23,240	$2.179M	0.4%	$53.69	+7.8%	COM	30231G102
—	TC PIPELINES LP	38,000	$2.176M	0.4%	$48.29	—	UT COM LTD PRT	87233Q108
MSFT	MICROSOFT CORP	42,400	$2.17M	0.4%	$26.70	+72.2%	COM	594918104
—	TENET HEALTHCARE CORP	75,000	$2.073M	0.4%	$27.64	—	COM NEW	8033G407
TRGP	TARGA RES CORP	47,178	$1.988M	0.4%	$15.07	+68.9%	COM	87612G101
—	FIREEYE INC	119,800	$1.973M	0.4%	$18.30	—	COM	31816Q101
—	BUCKEYE PARTNERS L P	26,963	$1.896M	0.3%	$69.06	—	UNIT LTD PARTN	118230101
—	MAGELLAN MIDSTREAM PRTNRS LP	24,600	$1.87M	0.3%	$54.51	—	COM UNIT RP LP	559080106
AXP	AMERICAN EXPRESS CO	30,000	$1.823M	0.3%	$50.49	+9.4%	COM	025816109
—	MB FINANCIAL INC NEW	50,000	$1.814M	0.3%	$26.80	—	COM	55264U108
HTGC	HERCULES CAPITAL INC	142,502	$1.77M	0.3%	$11.24	+8.1%	COM	427096508
—	DOW CHEM CO	35,000	$1.74M	0.3%	$51.48	—	COM	260543103
—	AMERICAN CAPITAL AGENCY CORP	87,633	$1.737M	0.3%	$20.16	—	COM	02503X105
RIG	TRANSOCEAN LTD	121,138	$1.44M	0.3%	$24.77	-58.7%	REG SHS	H8817H100
—	JPMORGAN CHASE & CO	70,200	$1.422M	0.3%	$23.69	—	*W EXP 10/28/201	46634E114
LLY	LILLY ELI & CO	18,000	$1.418M	0.3%	$42.21	+51.8%	COM	532457108
ABBV	ABBVIE INC	22,000	$1.362M	0.2%	$26.55	+54.3%	COM	00287Y109
SYNA	SYNAPTICS INC	25,073	$1.348M	0.2%	$66.96	+2.6%	COM	87157D109
QCOM	QUALCOMM INC	25,000	$1.339M	0.2%	$37.73	+6.8%	COM	747525103
—	E M C CORP MASS	40,000	$1.087M	0.2%	$23.63	—	COM	268648102
—	SOLARCITY CORP	500	$1.076M	0.2%	—	—	Put	83416T100
ZTS	ZOETIS INC	21,174	$1.005M	0.2%	$29.32	+49.6%	CL A	98978V103
—	TPG SPECIALTY LENDING INC	55,220	$917K	0.2%	$16.14	—	COM	87265K102
MDLZ	MONDELEZ INTL INC	20,000	$910K	0.2%	$23.16	+50.4%	CL A	609207105
—	LAYNE CHRISTENSEN CO	1,000,000	$869K	0.2%	$0.70	—	NOTE 4.250%11/1	521050AB0
—	BOARDWALK PIPELINE PARTNERS	49,796	$869K	0.2%	$30.20	—	UT LTD PARTNER	096627104
ABT	ABBOTT LABS	22,000	$865K	0.2%	$28.85	+15.6%	COM	002824100
—	PLAINS GP HLDGS L P	82,000	$855K	0.2%	$25.78	—	SHS A REP LTPN	72651A108
—	INVESCO MORTGAGE CAPITAL INC	60,834	$833K	0.2%	$16.57	—	COM	46131B100
—	FS INVT CORP	90,600	$820K	0.1%	$9.24	—	COM	302635107
—	ISTAR INC	75,000	$719K	0.1%	$11.29	—	COM	45031U101
—	COLONY STARWOOD HOMES	22,350	$680K	0.1%	$24.74	—	COM	19625X102
—	SILVER BAY RLTY TR CORP	36,791	$627K	0.1%	$16.55	—	COM	82735Q102
—	GENERAL GROWTH PPTYS INC NEW	20,719	$618K	0.1%	$19.87	—	COM	370023103
—	AMERICAN CAP LTD	38,500	$602K	0.1%	$14.80	—	COM	02503Y103
—	TOTAL S A	12,500	$601K	0.1%	$48.70	—	SPONSORED ADR	89151E109
PMT	PENNYMAC MTG INVT TR	35,500	$576K	0.1%	$15.46	—	COM	70931T103
—	NUVEEN PREM INCOME MUN FD	37,251	$575K	0.1%	$12.32	—	COM	67062T100
—	TRANSATLANTIC PETROLEUM LTD	686,528	$563K	0.1%	$8.35	—	SHS NEW	G89982113
MCD	MCDONALDS CORP	250	$520K	0.1%	—	—	Call	580135101
CFG	CITIZENS FINL GROUP INC	24,000	$480K	0.1%	$17.55	-11.9%	COM	174610105
EARN	ELLINGTON RESIDENTIAL MTG RE	36,573	$478K	0.1%	$15.62	—	COM SHS BEN INT	288578107
—	APOLLO INVT CORP	80,800	$448K	0.1%	$8.48	—	COM	03761U106
AAPL	APPLE INC	1,700	$433K	0.1%	—	—	Call	037833100
—	INVESCO QUALITY MUNI INC TRS	30,674	$424K	0.1%	$11.12	—	COM	46133G107
—	LEVEL 3 COMMUNICATIONS INC	800	$416K	0.1%	$22.20	—	Call	52729N308
ARCC	ARES CAP CORP	25,928	$368K	0.1%	$5.84	+1.6%	COM	04010L103
—	EATON VANCE MUN BD FD	25,500	$361K	0.1%	$11.29	—	COM	27827X101
KBR	KBR INC	27,000	$357K	0.1%	$26.54	-52.6%	COM	48242W106
EPR	EPR PPTYS	4,400	$355K	0.1%	$57.56	—	COM SH BEN INT	26884U109
—	CALUMET SPECIALTY PRODS PTNR	69,547	$341K	0.1%	$36.38	—	UT LTD PARTNER	131476103
COP	CONOCOPHILLIPS	7,200	$314K	0.1%	$39.96	-17.9%	COM	20825C104
BMY	BRISTOL MYERS SQUIBB CO	250	$304K	0.1%	—	—	Call	110122108
RITM	NEW RESIDENTIAL INVT CORP	19,646	$272K	0.0%	$15.02	—	COM NEW	64828T201
VALE	VALE S A	53,100	$269K	0.0%	$13.15	—	ADR	91912E105
—	SEADRILL LIMITED	500,000	$265K	0.0%	$0.53	—	SHS	G7945E105
—	INVESCO MUN TR	17,900	$254K	0.0%	$11.60	—	COM	46131J103
GS	GOLDMAN SACHS GROUP INC	200	$246K	0.0%	$120.06	+6.5%	Put	38141G104
—	PENNEY J C INC	25,000	$222K	0.0%	$8.62	—	COM	708160106
—	AMERICAN CAP LTD	1,800	$212K	0.0%	$14.80	—	Call	02503Y103
—	ZAIS GROUP HLDGS INC	54,355	$153K	0.0%	$9.16	—	COM	98887G106
BKD	BROOKDALE SR LIVING INC	669	$151K	0.0%	$25.17	-30.7%	Call	112463104
—	VALE S A	37,500	$150K	0.0%	$12.16	—	ADR REPSTG PFD	91912E204
—	OCWEN FINL CORP	76,400	$131K	0.0%	$13.85	—	COM NEW	675746309
AXP	AMERICAN EXPRESS CO	300	$125K	0.0%	$50.49	+9.4%	Put	025816109
MSFT	MICROSOFT CORP	300	$120K	0.0%	$26.70	+72.2%	Call	594918104
QCOM	QUALCOMM INC	150	$87,000	0.0%	$37.73	+6.8%	Call	747525103
GM	GENERAL MTRS CO	300	$27,000	0.0%	$26.01	-4.6%	Call	37045V100
—	SPX CORP	600	$17,000	0.0%	—	—	Call	784635104
—	LEVEL 3 COMMUNICATIONS INC	100	$3,000	0.0%	$22.20	—	Put	52729N308
—	OCWEN FINL CORP	400	$2,000	0.0%	$13.85	—	Call	675746309