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
Short S&P500 ProShares ETF 74347R503 41,891,572 1,952,077 SH   SOLE   0 1,952,077 0
ProShares UltraShort S&P 500 ETF 74347b300 18,710,313 877,183 SH   SOLE   0 877,183 0
MEDLEY CAPITAL CORP COM 58503F106 16,872,637 1,844,004 SH   SOLE   0 1,844,004 0
PowerShares CEF Income ETF ETF 73936q843 16,527,751 692,987 SH   SOLE   0 692,987 0
General Electric Company COM 369604103 11,532,678 464,839 SH   SOLE   0 464,839 0
Prospect Capital Corp. COM 74348T102 9,324,821 1,103,529 SH   SOLE   0 1,103,529 0
PROSHARES TRUST ETF ULTRASHORT 20+ ETF 74347B201 9,324,030 222,690 SH   SOLE   0 222,690 0
PENNANTPARK INVSTMNT CRP COM 708062104 8,469,101 935,812 SH   SOLE   0 935,812 0
FIFTH STREET FINANCE CORP COM 31678A103 7,771,094 1,064,533 SH   SOLE   0 1,064,533 0
SPDR S&P 500 TRUST ETF ETF 78462F103 7,734,932 37,470 SH   SOLE   0 37,470 0
S&P 500 INDX ETF 464287200 7,720,884 37,150 SH   SOLE   0 37,150 0
Sr. Housing Properties Trust ETF 81721m109 7,667,294 345,529 SH   SOLE   0 345,529 0
Verizon Communications COM 92343v104 7,627,528 156,848 SH   SOLE   0 156,848 0
Vanguard Index S&P 500 EFT 922908363 7,521,646 39,755 SH   SOLE   0 39,755 0
BlackRock Kelso Capital Corp. COM 092533108 6,257,295 690,650 SH   SOLE   0 690,650 0
CYS INVESTMENTS INC COM 23281A307 5,997,327 673,100 SH   SOLE   0 673,100 0
Independence Realty Trust, Inc. COM 45378A106 5,905,483 622,284 SH   SOLE   0 622,284 0
Invesco Mortgage Capital COM 46131b100 5,730,002 368,963 SH   SOLE   0 368,963 0
AT&T, Inc. COM 00206r102 5,635,832 172,613 SH   SOLE   0 172,613 0
Merck & Company Inc. COM 58933Y105 5,635,626 98,045 SH   SOLE   0 98,045 0
HEWLETT-PACKARD COMPANY COM 428236103 5,558,788 178,395 SH   SOLE   0 178,395 0
KLA-TENCOR CORP COM 482480100 4,983,250 85,490 SH   SOLE   0 85,490 0
American Cap Mortgage COM 02504A104 4,414,663 245,805 SH   SOLE   0 245,805 0
FIFTH THIRD BANCORP COM 316773100 3,974,334 210,840 SH   SOLE   0 210,840 0
TWO HARBORS INVT CORP COM 90187B101 3,905,868 367,784 SH   SOLE   0 367,784 0
Telefonica, S.A. COM 879382208 3,897,316 271,590 SH   SOLE   0 271,590 0
TICC Capital Corp COM 87244t109 3,894,342 562,766 SH   SOLE   0 562,766 0
CITIGROUP INC COM COM 172967424 3,868,636 75,090 SH   SOLE   0 75,090 0
SPDR INDEX SHARES SPDR S&P INTERNATI ETF 78463x772 3,866,770 92,241 SH   SOLE   0 92,241 0
ProShares TR UltraShort QQQ New ETF 74348A426 3,849,289 104,430 SH   SOLE   0 104,430 0
The Dow Chemical Company COM 260543103 3,814,170 79,495 SH   SOLE   0 79,495 0
Whitestone REIT COM 966084204 3,774,577 237,693 SH   SOLE   0 237,693 0
Ishares Tr Real Estate ETF 464288539 3,763,099 321,907 SH   SOLE   0 321,907 0
American Movil SA COM 02364w105 3,752,466 183,405 SH   SOLE   0 183,405 0
SELECT SECTOR SPDR FD MATERIALS ETF 81369Y100 3,750,450 76,885 SH   SOLE   0 76,885 0
SECTOR SPDR - FINANCIAL SHS BEN INT ETF 81369y605 3,743,921 155,285 SH   SOLE   0 155,285 0
Fifth Street Ser Floating Rate Corp COM 31679F101 3,737,238 351,574 SH   SOLE   0 351,574 0
SECTOR SPDR ETF TECHNOLOGY ETF 81369Y803 3,730,636 90,025 SH   SOLE   0 90,025 0
Ishares DJ US Telecommunication ETF 464287713 3,717,815 123,025 SH   SOLE   0 123,025 0
SPDR DOW JONES INDL ETF ETF 78467X109 3,691,272 20,786 SH   SOLE   0 20,786 0
THE SOUTHERN COMPANY COM 842587107 3,634,945 82,090 SH   SOLE   0 82,090 0
Apollo Investment Corp COM 03761u106 3,593,161 468,164 SH   SOLE   0 468,164 0
Exxon Mobil Corporation COM 30231G102 3,542,794 41,679 SH   SOLE   0 41,679 0
DISCOVER FINANCIAL COM 254709108 3,478,499 61,730 SH   SOLE   0 61,730 0
Cypress Semiconductor COM 232806109 3,448,695 244,415 SH   SOLE   0 244,415 0
HONDA MOTOR LTD COM 438128308 2,917,782 89,065 SH   SOLE   0 89,065 0
KOHLS CORP COM 500255104 2,243,196 28,667 SH   SOLE   0 28,667 0
Tupperware Corporation COM 899896104 2,196,261 31,820 SH   SOLE   0 31,820 0
Guess INC COM 401617105 1,865,692 100,360 SH   SOLE   0 100,360 0
TELEFONICA BRASIL SA SPONSORED ADR COM 87936R106 1,849,325 120,950 SH   SOLE   0 120,950 0
APPLIED MATERIALS INC COM 038222105 1,761,823 78,095 SH   SOLE   0 78,095 0
ISHARES S&P 500 ETF GROWTH ETF 464287309 1,205,591 10,580 SH   SOLE   0 10,580 0
ISHARES ETF NORTH AMERICAN TECH-SO ETF 464287515 996,172 10,366 SH   SOLE   0 10,366 0
Industrial Select Sector ETF 81369y704 847,982 15,205 SH   SOLE   0 15,205 0
Solar Capital Ltd. COM 83413U100 733,578 36,244 SH   SOLE   0 36,244 0
ISHARES ETF RUSSELL 2000 GROWTH ETF 464287648 705,465 4,655 SH   SOLE   0 4,655 0
ISHARES MSCI ITALY ETF 464286855 577,496 39,020 SH   SOLE   0 39,020 0
DYNEX CAP INC COM COM 26817q506 235,296 27,780 SH   SOLE   0 27,780 0
ISHARES ETF U.S. INDUSTRIALS ETF 464287754 235,156 2,180 SH   SOLE   0 2,180 0
Pimco High Income Fund COM 723456109 234,624 18,800 SH   SOLE   0 18,800 0
Western Asset High Yield Oppor Fd COM 95768B107 227,265 13,900 SH   SOLE   0 13,900 0
Ishares DJ US Oil&Gas EP ETF 464288851 215,678 2,940 SH   SOLE   0 2,940 0
Babson Cap Global Short Duration COM 05617T100 208,319 10,025 SH   SOLE   0 10,025 0
YieldShares High Income ETF ETF 301505301 205,428 9,713 SH   SOLE   0 9,713 0
Solar Senior Capital Ltd. COM 83416m105 198,217 12,304 SH   SOLE   0 12,304 0
Oha Investment Corp COM 67091U102 192,723 36,570 SH   SOLE   0 36,570 0
Avenue Income Credit Strategies COM 05358e106 182,891 12,080 SH   SOLE   0 12,080 0
Wells Fargo Adv COM 94987b105 151,976 17,270 SH   SOLE   0 17,270 0
Eaton Vance Tax-Advantaged FD COM 27829M103 134,505 10,500 SH   SOLE   0 10,500 0
Five Oaks Investment Corp. COM 33830W106 116,990 10,985 SH   SOLE   0 10,985 0
Mimedx Group Inc. COM 602496101 114,868 11,045 SH   SOLE   0 11,045 0
Brookfield High Income Fd COM 11272P102 99,921 11,329 SH   SOLE   0 11,329 0
Credit Suisse High Yield Bond Fund BOND 22544f103 84,108 30,255 PRN   SOLE   0 30,255 0
Full Circle Cap Corp COM 359671104 54,771 15,560 SH   SOLE   0 15,560 0
Louisiana Loc Govt Evironmental BOND 5462792h2 10,713 10,000 PRN   SOLE   0 10,000 0