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
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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
ProShares UltraShort S&P 500 (sds) ETF 74347B300 48,160,942 2,068,769 SH   SOLE   2,068,769 0 0
Short S&P500 ProShares (sh) ETF 74347R503 19,457,441 864,391 SH   SOLE   864,391 0 0
MEDLEY CAPITAL CORP (mcc) COM 58503F106 12,533,087 1,684,554 SH   SOLE   1,684,554 0 0
PowerShares CEF Income ETF (pcef) ETF 73936Q843 11,706,506 557,452 SH   SOLE   557,452 0 0
Prospect Capital Corp. (psec) COM 74348T102 9,537,874 1,337,710 SH   SOLE   1,337,710 0 0
Sr. Housing Properties Trust (snh) ETF 81721M109 9,218,626 569,051 SH   SOLE   569,051 0 0
Verizon Communications (vz) COM 92343V104 9,182,827 211,050 SH   SOLE   211,050 0 0
General Electric Company (ge) COM 369604103 8,969,041 355,632 SH   SOLE   355,632 0 0
PENNANTPARK INVSTMNT CRP (pnnt) COM 708062104 7,142,604 1,103,957 SH   SOLE   1,103,957 0 0
SELECT SECTOR SPDR TRUST ENERG (xle) ETF 81369Y506 6,941,181 113,418 SH   SOLE   113,418 0 0
Solar Capital Ltd. (slrc) COM 83413U100 6,192,617 391,442 SH   SOLE   391,442 0 0
S&P 500 INDX (ivv) ETF 464287200 5,783,997 30,014 SH   SOLE   30,014 0 0
SPDR S&P 500 TRUST ETF (spy) ETF 78462F103 5,781,668 30,171 SH   SOLE   30,171 0 0
Vanguard Index S&P 500 (voo) ETF 922908363 5,714,264 32,521 SH   SOLE   32,521 0 0
ALPS ALERIAN MLP ETF (amlp) COM 00162Q866 5,698,680 456,625 SH   SOLE   456,625 0 0
Whitestone REIT (wsr) COM 966084204 5,606,474 486,251 SH   SOLE   486,251 0 0
AT&T, Inc.(t) COM 00206F102 5,508,399 169,073 SH   SOLE   169,073 0 0
ERICSSON (LM) TEL-SP ADR NEW (eric) ADR 294821608 5,342,882 546,307 SH   SOLE   546,307 0 0
Merck & Company Inc. (mrk) COM 58933Y105 5,012,604 101,490 SH   SOLE   101,490 0 0
Cypress Semiconductor (cy) COM 232806109 4,849,133 569,147 SH   SOLE   569,147 0 0
BlackRock Kelso Capital Corp. (bkcc) COM 092533108 4,794,905 541,185 SH   SOLE   541,185 0 0
Invesco Mortgage Capital (ivr) COM 46131B100 4,607,930 376,464 SH   SOLE   376,464 0 0
Independence Realty Trust, Inc. (irt) COM 45378A106 4,534,310 628,891 SH   SOLE   628,891 0 0
ConocoPhillips (cop) COM 20825C104 4,500,950 93,848 SH   SOLE   93,848 0 0
CITIGROUP INC COM (c) COM 172967424 4,008,789 80,806 SH   SOLE   80,806 0 0
Communications Sales & Leasing Inc. (csal) COM 20341J104 3,986,867 222,730 SH   SOLE   222,730 0 0
CYS INVESTMENTS INC (cys) COM 23281A307 3,743,989 515,701 SH   SOLE   515,701 0 0
TICC Capital Corp (ticc) COM 87244T109 3,623,880 540,071 SH   SOLE   540,071 0 0
HEWLETT-PACKARD COMPANY (hpq) COM 428236103 3,530,941 137,873 SH   SOLE   137,873 0 0
WindStream Corp (win) COM 97382A101 3,380,763 550,613 SH   SOLE   550,613 0 0
FIFTH STREET FINANCE CORP (fsc) COM 31678A103 3,363,852 545,194 SH   SOLE   545,194 0 0
Fifth Street Ser Floating Rate Corp (fsfr) COM 31679F101 3,291,342 377,015 SH   SOLE   377,015 0 0
Spirit Realty Capital, Inc. (src) COM 84860W102 3,042,651 332,894 SH   SOLE   332,894 0 0
LEXINGTON REALTY TRUST REIT (lxp) COM 529043101 2,767,308 341,643 SH   SOLE   341,643 0 0
KOHLS CORP (kss) COM 500255104 2,578,274 55,674 SH   SOLE   55,674 0 0
The Dow Chemical Company (dow) COM 260543103 2,575,139 60,734 SH   SOLE   60,734 0 0
TWO HARBORS INVT CORP (two) COM 90187B101 2,515,807 285,238 SH   SOLE   285,238 0 0
ISHARES S&P 500 ETF GROWTH (ivw) ETF 464287309 2,399,628 22,260 SH   SOLE   22,260 0 0
American Movil SA (amx) COM 02364W105 2,338,961 141,326 SH   SOLE   141,326 0 0
AVON PRODUCTS INC (avp) COM 054303102 2,243,595 690,337 SH   SOLE   690,337 0 0
New York Mortgage Trust (nymt) COM 649604501 2,225,305 405,338 SH   SOLE   405,338 0 0
Olin Corp. (oln) COM 680665205 2,193,368 130,480 SH   SOLE   130,480 0 0
Gap Inc. (gps) COM 364760108 2,154,172 75,585 SH   SOLE   75,585 0 0
Apollo Investment Corp (ainv) COM 03761U106 1,993,765 363,825 SH   SOLE   363,825 0 0
Trinseo SA (tse) COM L9340P101 1,636,452 64,810 SH   SOLE   64,810 0 0
SELECT INCOME REIT (sir) ETF 81618T100 1,360,735 71,580 SH   SOLE   71,580 0 0
KB HOME (kbh) COM 48666K109 1,269,851 93,716 SH   SOLE   93,716 0 0
ISHARES NASDAQ BIOTECH (ibb) ETF 464287556 841,740 2,775 SH   SOLE   2,775 0 0
Horizon Technology Finance Corp (hrzn) COM 44045A102 816,129 90,180 SH   SOLE   90,180 0 0
IShares S&P Global Telecommunictions (ixp) ETF 464287275 728,568 12,845 SH   SOLE   12,845 0 0
First Tr Exchange FD Focus 5 ETF (fv) ETF 33738R605 647,592 29,530 SH   SOLE   29,530 0 0
ISHARES ETF S&P SMALL CAP 600 VALUE (ijs) ETF 464287879 599,922 5,725 SH   SOLE   5,725 0 0
Ishare MSCI Eafe SM (scz) ETF 464288273 382,160 8,000 SH   SOLE   8,000 0 0
Solar Senior Capital Ltd. (suns) COM 83416M105 277,318 19,502 SH   SOLE   19,502 0 0
Credit Suisse High Yield Bond Fund (dhy) BOND 22544F103 253,002 111,455 SH   SOLE   111,455 0 0
Pacholder High Yield Fd (phf) BOND 693742108 210,487 33,305 SH   SOLE   33,305 0 0
First Tr Strategic High Income Fd (fhy) BOND 337353304 175,478 15,259 SH   SOLE   15,259 0 0
Avenue Income Credit Strategies (acp) COM 05358E106 168,078 13,080 SH   SOLE   13,080 0 0
Pimco High Income Fund (phk) BOND 723456109 139,240 18,690 SH   SOLE   18,690 0 0
Eaton Vance Tax-Advantaged FD (exd) COM 27829M103 135,958 11,135 SH   SOLE   11,135 0 0
Wells Fargo Adv (ead) COM 94987b105 121,082 15,995 SH   SOLE   15,995 0 0
Full Circle Cap Corp (full) COM 359671104 53,034 17,275 SH   SOLE   17,275 0 0
Kcap Financial Inc. (kcap) COM 500233101 48,933 10,850 SH   SOLE   10,850 0 0
UQM Technologies Inc. (uqm) COM 903213106 8,890 14,000 SH   SOLE   14,000 0 0