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
MATTSON TECHNOLOGY INC COM 577223100 76,042 19,300 SH   SOLE   19,300 0 0
NEWS CORP - CLASS B COM 65249B208 587,190 37,000 SH   SOLE   37,000 0 0
LORILLARD INC COM 544147101 209,120 3,200 SH   SOLE   3,200 0 0
WELLS FARGO & CO COM 949746101 535,840 9,850 SH   SOLE   9,850 0 0
BANK OF AMERICA CORP COM 060505104 384,750 25,000 SH   SOLE   25,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 240,260 2,050 SH   SOLE   2,050 0 0
CASTLE BRANDS INC COM 148435100 22,960 16,400 SH   SOLE   16,400 0 0
CURIS INC COM 231269101 54,720 22,800 SH   SOLE   22,800 0 0
EATON VANCE LTD DURATION FND ETF 27828H105 162,218 11,273 SH   SOLE   11,273 0 0
DOUGLAS EMMETT INC COM 25960P109 1,967,460 66,000 SH   SOLE   66,000 0 0
INVESCO SENIOR INCOME TRUST ETF 46131H107 128,240 27,055 SH   SOLE   27,055 0 0
DURECT CORPORATION COM 266605104 52,907 27,700 SH   SOLE   27,700 0 0
COMCAST CORP-SPECIAL CL A COM 20030N200 6,895,995 123,000 SH   SOLE   123,000 0 0
JPMORGAN CHASE & CO COM 46625H100 375,596 6,200 SH   SOLE   6,200 0 0
PNC FINANCIAL SERVICES-CW18 WTS 693475121 4,864,658 185,674 SH   SOLE   185,674 0 0
GLU MOBILE INC COM 379890106 84,168 16,800 SH   SOLE   16,800 0 0
CATALYST PHARMACEUTICAL PART COM 14888U101 77,940 18,000 SH   SOLE   18,000 0 0
PARAMOUNT GOLD AND SILVER COM 69924P102 36,259 35,900 SH   SOLE   35,900 0 0
CALIFORNIA RESOURCES CORP COM 13057Q107 107,301 14,100 SH   SOLE   14,100 0 0
ALLIED NEVADA GOLD CORP COM 019344100 9,680 88,000 SH   SOLE   88,000 0 0
CHIMERA INVESTMENT CORP COM 16934Q208 879,200 280,000 SH   SOLE   280,000 0 0
TCF FINANCIAL CORP-CW18 WTS 872275128 331,645 144,200 SH   SOLE   144,200 0 0
INVESCO DYNAMIC CREDIT OPP ETF 46132R104 132,076 11,034 SH   SOLE   11,034 0 0
FREEPORT-MCMORAN INC COM 35671D857 985,400 52,000 SH   SOLE   52,000 0 0
CAPITAL ONE FINANCIAL C-CW18 WTS 14040H139 926,000 25,000 SH   SOLE   25,000 0 0
MONOGRAM RESIDENTIAL TRUST I COM 60979P105 415,672 44,600 SH   SOLE   44,600 0 0
CITIGROUP INC COM 172967424 432,768 8,400 SH   SOLE   8,400 0 0
PENNYMAC MORTGAGE INVESTMENT COM 70931T103 212,900 10,000 SH   SOLE   10,000 0 0
COMERICA INC-CW18 WTS 200340115 2,989,124 184,400 SH   SOLE   184,400 0 0
URBAN EDGE PROPERTIES COM 91704F104 284,400 12,000 SH   SOLE   12,000 0 0
INVESCO MORTGAGE CAPITAL COM 46131B100 232,950 15,000 SH   SOLE   15,000 0 0
SANOFI CVR COM 80105N113 51,392 75,800 SH   SOLE   75,800 0 0
TWENTY-FIRST CENTURY FOX - B COM 90130A200 4,603,200 140,000 SH   SOLE   140,000 0 0
HALYARD HEALTH INC COM 40650V100 378,840 7,700 SH   SOLE   7,700 0 0
NORANDA ALUMINUM HOLDING COR COM 65542W107 33,264 11,200 SH   SOLE   11,200 0 0
KLX INC COM 482539103 314,101 8,150 SH   SOLE   8,150 0 0
BLACKROCK DEBT STRATEGIES FD ETF 09255R103 114,723 30,757 SH   SOLE   30,757 0 0
VOYA PRIME RATE TRUST ETF 92913A100 111,293 20,089 SH   SOLE   20,089 0 0
MARATHON PETROLEUM CORP COM 56585A102 271,333 2,650 SH   SOLE   2,650 0 0
ATHERSYS INC COM 04744L106 50,688 17,600 SH   SOLE   17,600 0 0
EXXON MOBIL CORP COM 30231G102 242,250 2,850 SH   SOLE   2,850 0 0
AMICUS THERAPEUTICS INC COM 03152W109 274,176 25,200 SH   SOLE   25,200 0 0
INTEL CORP COM 458140100 311,136 9,950 SH   SOLE   9,950 0 0
PFIZER INC COM 717081103 513,152 14,750 SH   SOLE   14,750 0 0
APOLLO INVESTMENT CORP COM 03761U106 90,565 11,800 SH   SOLE   11,800 0 0
BPZ RESOURCES INC COM 055639108 2,620 100,000 SH   SOLE   100,000 0 0
VALLEY NATIONAL BANCORP-CW18 WTS 919794131 15,960 76,000 SH   SOLE   76,000 0 0
VISTA OUTDOOR INC COM 928377100 308,304 7,200 SH   SOLE   7,200 0 0
VERSO CORP COM 92531L108 19,440 10,800 SH   SOLE   10,800 0 0
SUPERVALU INC COM 868536103 118,626 10,200 SH   SOLE   10,200 0 0
NEW SENIOR INVESTMENT GROUP COM 648691103 286,036 17,200 SH   SOLE   17,200 0 0
KEYSIGHT TECHNOLOGIES IN COM 49338L103 308,345 8,300 SH   SOLE   8,300 0 0
CVS HEALTH CORP COM 126650100 201,259 1,950 SH   SOLE   1,950 0 0
UNITED CONTINENTAL HOLDINGS COM 910047109 256,895 3,820 SH   SOLE   3,820 0 0
NEOGENOMICS INC COM 64049M209 63,512 13,600 SH   SOLE   13,600 0 0
JAKKS PACIFIC INC COM 47012E106 130,644 19,100 SH   SOLE   19,100 0 0
ENERGY SELECT SECTOR SPDR ETF 81369Y506 3,235,086 41,700 SH   SOLE   41,700 0 0
VECTRUS INC COM 92242T101 200,223 7,855 SH   SOLE   7,855 0 0
AVID TECHNOLOGY INC COM 05367P100 157,940 10,600 SH   SOLE   10,600 0 0