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 49,616 2,861,344 SH   SOLE 1 2,861,344 0 0
ARES CAP CORP COM 04010L103 41,964 2,942,806 SH   SOLE 1 2,942,806 0 0
ARES COML REAL ESTATE CORP COM 04013V108 16,799 1,469,769 SH   SOLE 1 1,469,769 0 0
ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 236 250,000 SH   SOLE 1 250,000 0 0
BROOKFIELD TOTAL RETURN FD I COM 11283U108 247 11,250 SH   SOLE 1 11,250 0 0
DYNEX CAP INC COM NEW 26817Q506 444 69,909 SH   SOLE 1 69,909 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 26,685 790,655 SH   SOLE 1 790,655 0 0
FIFTH STREET FINANCE CORP COM 31678A103 24,657 3,864,662 SH   SOLE 1 3,864,662 0 0
FS INVT CORP COM 302635107 3,634 404,200 SH   SOLE 1 404,200 0 0
HERCULES OFFSHORE INC COM NEW 427093307 36 16,700 SH   SOLE 1 16,700 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 12,830 660,000 SH   SOLE 1 660,000 0 0
PENNANTPARK INVT CORP COM 708062104 10,996 1,787,914 SH   SOLE 1 1,787,914 0 0
PENNYMAC MTG INVT TR COM 70931T103 41,583 2,724,959 SH   SOLE 1 2,724,959 0 0
POWERSECURE INTL INC COM 73936N105 152 10,109 SH   SOLE 1 10,109 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 7,835 474,000 SH   SOLE 1 474,000 0 0
TPG SPECIALTY LENDING INC COM 87265K102 13,989 862,980 SH   SOLE 1 862,980 0 0
TRAVELPORT WORLDWIDE LTD SHS G9019D104 192 14,881 SH   SOLE 1 14,881 0 0
TWO HBRS INVT CORP COM 90187B101 63,941 7,884,200 SH   SOLE 1 7,884,200 0 0
VEREIT INC COM 92339V100 40,631 5,130,180 SH   SOLE 1 5,130,180 0 0