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
ADVANCED MICRO DEV COM 007903107 276 103,000 SH   SOLE   103,000 0 0
ALCOA COM 013817101 762 59,000 SH   SOLE   59,000 0 0
ALCATEL-LUCENT COM 013904305 584 156,500 SH   SOLE   156,500 0 0
ALLY FINL INC COM 02005N100 1,087 51,800 SH   SOLE   51,800 0 0
APOLLO INVT CORP COM 03761U106 629 82,000 SH   SOLE   82,000 0 0
APPLE INC COM 037833100 3,042 24,450 SH   SOLE   24,450 0 0
ARCH COAL INC COM 039380100 50 50,000 SH   SOLE   50,000 0 0
AVON PRODS COM 054303102 6 700 SH   SOLE   700 0 0
BP PLC COM 055622104 767 19,600 SH   SOLE   19,600 0 0
BANCO SANTANDER S.A. COM 05964H105 1,189 159,576 SH   SOLE   159,576 0 0
BANK OF AMERICA COM 060505104 916 59,500 SH   SOLE   59,500 0 0
BANK OF AMERICA WARRENTS COM 060505146 368 62,679 SH   SOLE   62,679 0 0
BOX INC COM 10316T104 89 4,500 SH   SOLE   4,500 0 0
CBS COM 124857202 958 15,800 SH   SOLE   15,800 0 0
CIT GROUP COM 125581801 1,119 24,800 SH   SOLE   24,800 0 0
CAPITALA FIN CORP COM 14054R106 268 14,299 SH   SOLE   14,299 0 0
CARPENTER TECHNOLOGY COM 144285103 894 23,000 SH   SOLE   23,000 0 0
CHEGG INC COM 163092109 155 19,500 SH   SOLE   19,500 0 0
CISCO SYS COM 17275R102 55 2,000 SH   SOLE   2,000 0 0
CITIGROUP COM 172967424 804 15,600 SH   SOLE   15,600 0 0
COLONY FINANCIAL INC CONV BD 3.875 19624RAB2 108 100,000 PRN   SOLE   100,000 0 0
DIEBOLD INC COM 253651103 156 4,400 SH   SOLE   4,400 0 0
DIREXION DAILY S&P500 BEAR 3X S&P BEAR 3X 25459Y371 1,069 55,000 SH   SOLE   55,000 0 0
EBAY INC COM 278642103 196 3,400 SH   SOLE   3,400 0 0
ELLINGTON FINANCIAL LLC COM 288522303 868 43,600 SH   SOLE   43,600 0 0
FIFTH STREET FINANCE CORP COM 31678A103 431 59,000 SH   SOLE   59,000 0 0
FORD MOTOR COM 345370860 436 27,000 SH   SOLE   27,000 0 0
FREEPORT-MCMORAN COPPER COM 35671D857 483 25,500 SH   SOLE   25,500 0 0
GSV CAP CORP COM 36191J101 450 45,900 SH   SOLE   45,900 0 0
GENERAL ELECTRIC COM 369604103 1,409 56,800 SH   SOLE   56,800 0 0
GENWORTH FINL INC COM 37247D106 1,089 149,000 SH   SOLE   149,000 0 0
GOLDMAN SACHS GROUP COM 38141G104 160 850 SH   SOLE   850 0 0
GOPRO INC COM 38268T103 1,042 24,000 SH   SOLE   24,000 0 0
HOVNANIAN ENTERPRISES INC COM 442487203 559 157,100 SH   SOLE   157,100 0 0
INTL BUSINESS MACH COM 459200101 289 1,800 SH   SOLE   1,800 0 0
INVENSENSE INC COM 46123D205 1,005 66,100 SH   SOLE   66,100 0 0
JAKKS PAC INC COM 47012E106 332 48,500 SH   SOLE   48,500 0 0
LUMBER LIQUIDATORS HLDGS COM 55003T107 354 11,500 SH   SOLE   11,500 0 0
MORGAN STANLEY COM 617446448 132 3,700 SH   SOLE   3,700 0 0
NATIONSTAR MTG COM 63861C109 1,132 45,700 SH   SOLE   45,700 0 0
NEWMONT MINING COM 651639106 354 16,300 SH   SOLE   16,300 0 0
NORTHSTAR RLTY FIN CORP COM 66704R704 1,071 59,100 SH   SOLE   59,100 0 0
OCH ZIFF CAP MGMT GROUP COM 67551U105 632 50,000 SH   SOLE   50,000 0 0
OCWEN FINL CORP COM 675746309 818 99,100 SH   SOLE   99,100 0 0
PROVINCE OF ONTARIO CONV BD 3.15 68323AAC8 185 175,000 PRN   SOLE   175,000 0 0
PACIFIC COAST OIL TR COM 694103102 101 26,500 SH   SOLE   26,500 0 0
PANDORA MEDIA INC COM 698354107 267 16,500 SH   SOLE   16,500 0 0
PEABODY ENERGY CORP COM 704549104 428 87,000 SH   SOLE   87,000 0 0
PENNEY J C INC COM 708160106 1,153 137,100 SH   SOLE   137,100 0 0
PROSHR ULTRASHORT TR 20+ YRS T ULTSH 20 YRS 74347B201 264 6,300 SH   SOLE   6,300 0 0
PROSPECT CAPITAL CORP COM 74348T102 76 9,000 SH   SOLE   9,000 0 0
RAYONIER ADVANCED MATLS I COM 75508B104 356 23,900 SH   SOLE   23,900 0 0
ROCKET FUEL INC COM 773111109 405 44,000 SH   SOLE   44,000 0 0
ST JOE CO COM 790148100 130 7,000 SH   SOLE   7,000 0 0
SANTANDER CONSUMER USA HD COM 80283M101 801 34,600 SH   SOLE   34,600 0 0
SILICON GRAPHICS INTL COR COM 82706L108 117 13,500 SH   SOLE   13,500 0 0
SOLARCITY CORP COM 83416T100 77 1,500 SH   SOLE   1,500 0 0
TRI POINTE HOMES INC COM 87265H109 1,108 71,800 SH   SOLE   71,800 0 0
WALTER ENERGY INC COM 93317Q105 43 70,000 SH   SOLE   70,000 0 0
WALTER INVT MGMT CORP COM 93317W102 935 57,900 SH   SOLE   57,900 0 0
YAHOO COM 984332106 1,395 31,400 SH   SOLE   31,400 0 0
GOLAR LNG LTD BERMUDA COM G9456A100 200 6,000 SH   SOLE   6,000 0 0