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
AMERICAN CAPITAL AGENCY CORP COM 02503X105 11,499 535,104 SH   SOLE 1 535,104 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 32,013 2,285,000 SH   SOLE 1 2,285,000 0 0
ARES CAP CORP COM 04010L103 18,988 1,077,631 SH   SOLE 1 1,077,631 0 0
ARES COML REAL ESTATE CORP COM 04013V108 14,906 1,113,250 SH   SOLE 1 1,113,250 0 0
BROOKFIELD TOTAL RETURN FD I COM 11283U108 272 11,250 SH   SOLE 1 11,250 0 0
CVR REFNG LP COMUNIT REP LT 12663P107 4,866 209,000 SH   SOLE 1 209,000 0 0
DYNEX CAP INC COM NEW 26817Q506 624 69,909 SH   SOLE 1 69,909 0 0
FIFTH STREET FINANCE CORP COM 31678A103 3,784 400,000 SH   SOLE 1 400,000 0 0
ISHARES IBOXX HI YD ETF 464288513 1,265 13,400 SH   SOLE 1 13,400 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 9,800 150,300 SH   SOLE 1 150,300 0 0
NORTHERN TIER ENERGY LP COM UN REPR PART 665826103 4,552 177,000 SH   SOLE 1 177,000 0 0
PENNYMAC MTG INVT TR COM 70931T103 41,253 1,726,802 SH   SOLE 1 1,726,802 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 30,068 2,784,036 SH   SOLE 1 2,784,036 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 34,706 1,275,023 SH   SOLE 1 1,275,023 0 0
TWO HBRS INVT CORP COM 90187B101 43,591 4,256,900 SH   SOLE 1 4,256,900 0 0