| 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 | 25,473,652 | 546,059 | SH | | SOLE | | 546,059 | 0 | 0 |
| SPDR S&P 500 TRUST ETF (spy) | ETF | 78462F103 | 10,534,576 | 41,932 | SH | | SOLE | | 41,932 | 0 | 0 |
| S&P 500 INDX (ivv) | ETF | 464287200 | 9,610,834 | 37,998 | SH | | SOLE | | 37,998 | 0 | 0 |
| Vanguard Index S&P 500 (voo) | ETF | 922908363 | 9,569,386 | 41,469 | SH | | SOLE | | 41,469 | 0 | 0 |
| BP PLC SPONS ADR (bp) | ADR | 055622104 | 9,308,898 | 242,230 | SH | | SOLE | | 242,230 | 0 | 0 |
| Whitestone REIT (wsr) | COM | 966084204 | 9,162,052 | 702,073 | SH | | SOLE | | 702,073 | 0 | 0 |
| General Electric Company (ge) | COM | 369604103 | 8,153,825 | 337,213 | SH | | SOLE | | 337,213 | 0 | 0 |
| ARES CAPITAL CORP (arcc) | COM | 029066107 | 6,699,920 | 408,781 | SH | | SOLE | | 408,781 | 0 | 0 |
| CBL & ASSOC PROPERTIES REIT INC (cbl) | COM | 124830100 | 6,268,152 | 747,098 | SH | | SOLE | | 747,098 | 0 | 0 |
| MACY'S INC (m) | COM | 55616P104 | 5,776,146 | 264,718 | SH | | SOLE | | 264,718 | 0 | 0 |
| Intel Corp (intc) | COM | 458140100 | 5,342,433 | 140,295 | SH | | SOLE | | 140,295 | 0 | 0 |
| NUCOR CORP (nue) | COM | 670346105 | 5,187,118 | 92,561 | SH | | SOLE | | 92,561 | 0 | 0 |
| CVS Health Corp (cvs) | COM | 126650100 | 5,180,734 | 63,708 | SH | | SOLE | | 63,708 | 0 | 0 |
| Merck & Company Inc. (mrk) | COM | 58933Y105 | 5,166,696 | 80,691 | SH | | SOLE | | 80,691 | 0 | 0 |
| BANK OF AMERICA CORP (bac) | COM | 060505104 | 5,037,693 | 198,804 | SH | | SOLE | | 198,804 | 0 | 0 |
| Exxon Mobil Corporation (xom) | COM | 30231G102 | 4,963,643 | 60,547 | SH | | SOLE | | 60,547 | 0 | 0 |
| WELLS FARGO COMPANY (wfc) | COM | 949746101 | 4,787,516 | 86,809 | SH | | SOLE | | 86,809 | 0 | 0 |
| TARGET CORP (tgt) | COM | 87612E106 | 4,578,998 | 77,597 | SH | | SOLE | | 77,597 | 0 | 0 |
| ProShares TR UltraShort QQQ New (qid) | ETF | 74348A426 | 4,497,113 | 290,887 | SH | | SOLE | | 290,887 | 0 | 0 |
| New Senior Investment Group Inc. (snr) | COM | 648691103 | 4,260,011 | 465,575 | SH | | SOLE | | 465,575 | 0 | 0 |
| J M SMUCKER CO (sjm) | COM | 832696405 | 4,006,437 | 38,182 | SH | | SOLE | | 38,182 | 0 | 0 |
| CYS INVESTMENTS INC (cys) | COM | 23281A307 | 3,286,820 | 380,419 | SH | | SOLE | | 380,419 | 0 | 0 |
| AT&T, Inc.(t) | COM | 00206R102 | 3,180,564 | 81,199 | SH | | SOLE | | 81,199 | 0 | 0 |
| NETAPP INC (ntap) | COM | 64110D104 | 2,660,826 | 60,805 | SH | | SOLE | | 60,805 | 0 | 0 |
| PROSHARES TRUST ETF ULTRASHORT 20 (tbt) | ETF | 74347B201 | 2,650,247 | 74,487 | SH | | SOLE | | 74,487 | 0 | 0 |
| Uniti Group Inc. (unit) | COM | 91325V108 | 2,548,904 | 173,868 | SH | | SOLE | | 173,868 | 0 | 0 |
| Cypress Semiconductor (cy) | COM | 232806109 | 2,512,936 | 167,306 | SH | | SOLE | | 167,306 | 0 | 0 |
| ASTRAZENECA PLC SPON ADR (azn) | ADR | 046353108 | 2,370,414 | 69,965 | SH | | SOLE | | 69,965 | 0 | 0 |
| AMC Entertainment Holdings Inc (amc) | COM | 00165C104 | 2,340,387 | 159,210 | SH | | SOLE | | 159,210 | 0 | 0 |
| QUALCOMM INC (qcom) | COM | 747525103 | 2,247,056 | 43,346 | SH | | SOLE | | 43,346 | 0 | 0 |
| GLAXOSMITHKLINE PLC-ADR (gsk) | ADR | 37733W105 | 2,213,918 | 54,530 | SH | | SOLE | | 54,530 | 0 | 0 |
| ANADARKO PETROLEUM CORP (apc) | COM | 032511107 | 2,153,796 | 44,090 | SH | | SOLE | | 44,090 | 0 | 0 |
| The Walt Disney Company (dis) | COM | 254687106 | 1,972,188 | 20,008 | SH | | SOLE | | 20,008 | 0 | 0 |
| CENTURYLINK INC (ctl) | COM | 156700106 | 1,945,282 | 102,925 | SH | | SOLE | | 102,925 | 0 | 0 |
| Chevron Corporation (cvx) | COM | 166764100 | 1,893,395 | 16,114 | SH | | SOLE | | 16,114 | 0 | 0 |
| Independence Realty Trust, Inc. (irt) | COM | 45378A106 | 1,820,107 | 178,968 | SH | | SOLE | | 178,968 | 0 | 0 |
| Oaktree Specialty Lending Corp. (ocsl) | COM | 67401P108 | 1,780,670 | 325,534 | SH | | SOLE | | 325,534 | 0 | 0 |
| Telefonica, S.A. (tef) | ADR | 879382208 | 1,737,938 | 161,069 | SH | | SOLE | | 161,069 | 0 | 0 |
| KOHLS CORP (kss) | COM | 500255104 | 1,721,005 | 37,700 | SH | | SOLE | | 37,700 | 0 | 0 |
| Global Medical REIT, Inc. (gmre) | COM | 37954A104 | 1,718,430 | 191,362 | SH | | SOLE | | 191,362 | 0 | 0 |
| Pfizer Inc. (pfe) | COM | 717081103 | 1,717,669 | 48,114 | SH | | SOLE | | 48,114 | 0 | 0 |
| Vista Outdoor Inc. (vsto) | COM | 928377100 | 1,650,854 | 71,964 | SH | | SOLE | | 71,964 | 0 | 0 |
| Arlington Asset Investment (ai) | COM | 041356205 | 1,613,476 | 126,746 | SH | | SOLE | | 126,746 | 0 | 0 |
| SELECT SECTOR SPDR TRUST ENERG (xle) | ETF | 81369Y506 | 1,608,663 | 23,491 | SH | | SOLE | | 23,491 | 0 | 0 |
| SELECT INCOME REIT (sir) | ETF | 81618T100 | 1,578,976 | 67,420 | SH | | SOLE | | 67,420 | 0 | 0 |
| WAL-MART STORES INC (wmt) | COM | 931142103 | 1,560,846 | 19,975 | SH | | SOLE | | 19,975 | 0 | 0 |
| ProShares Short S&P500 (sh) | ETF | 74347R503 | 1,357,927 | 42,211 | SH | | SOLE | | 42,211 | 0 | 0 |
| Sr. Housing Properties Trust (snh) | COM | 81721M109 | 1,260,355 | 64,468 | SH | | SOLE | | 64,468 | 0 | 0 |
| TWO HARBORS INVT CORP (two) | COM | 90187B101 | 1,214,480 | 120,484 | SH | | SOLE | | 120,484 | 0 | 0 |
| Triplepoint Venture Growth Corp (tpvg) | COM | 89677Y100 | 1,173,143 | 87,548 | SH | | SOLE | | 87,548 | 0 | 0 |
| JPMorgan Chase & Co. (jpm) | COM | 46625H100 | 1,137,524 | 11,910 | SH | | SOLE | | 11,910 | 0 | 0 |
| Caterpillar Inc. (cat) | COM | 149123101 | 1,117,276 | 8,959 | SH | | SOLE | | 8,959 | 0 | 0 |
| INGERSOLL-RAND PLC SHARES (ir) | COM | G47791101 | 1,037,938 | 11,640 | SH | | SOLE | | 11,640 | 0 | 0 |
| TPG Specialty Lending Inc. (tslx) | COM | 87265K102 | 972,103 | 46,379 | SH | | SOLE | | 46,379 | 0 | 0 |
| Solar Senior Capital Ltd. (suns) | COM | 83416M105 | 928,938 | 53,914 | SH | | SOLE | | 53,914 | 0 | 0 |
| SPDR Ser Tr S&P Biotech ETF (xbi) | ETF | 78464A870 | 877,386 | 10,135 | SH | | SOLE | | 10,135 | 0 | 0 |
| ISHARES ETF NORTH AMERICAN TECH-SO (igv) | ETF | 464287515 | 865,127 | 5,915 | SH | | SOLE | | 5,915 | 0 | 0 |
| Ishares S&P Europe 350 (iev) | ETF | 464287861 | 856,080 | 18,265 | SH | | SOLE | | 18,265 | 0 | 0 |
| Ishares US Pharmaceuticals (ihe) | ETF | 464288836 | 841,998 | 5,385 | SH | | SOLE | | 5,385 | 0 | 0 |
| THL CREDIT INC (tcrd) | COM | 872438106 | 809,508 | 86,764 | SH | | SOLE | | 86,764 | 0 | 0 |
| LEXINGTON REALTY TRUST REIT (lxp) | COM | 529043101 | 790,353 | 77,334 | SH | | SOLE | | 77,334 | 0 | 0 |
| Georgia Power Co Jr (gpja) | COM | 373334440 | 754,200 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
| Prospect Capital Corp. (psec) | COM | 74348T102 | 719,900 | 107,128 | SH | | SOLE | | 107,128 | 0 | 0 |
| CIENA CORPORATION (cien) | COM | 171779309 | 674,259 | 30,690 | SH | | SOLE | | 30,690 | 0 | 0 |
| Global Medical REIT Inc. (gmre pra) | COM | 37957W203 | 627,000 | 25,000 | SH | | SOLE | | 25,000 | 0 | 0 |
| LOWES COMPANIES INC (low) | COM | 548661107 | 615,538 | 7,700 | SH | | SOLE | | 7,700 | 0 | 0 |
| Five Oaks Investment Corp. (oaks) | COM | 33830W106 | 600,316 | 134,600 | SH | | SOLE | | 134,600 | 0 | 0 |
| KELLOGG COMPANY (k) | COM | 487836108 | 548,856 | 8,800 | SH | | SOLE | | 8,800 | 0 | 0 |
| HOME DEPOT INC (hd) | COM | 437076102 | 511,942 | 3,130 | SH | | SOLE | | 3,130 | 0 | 0 |
| Triplepoint Venture Growth (tpvy) | COM | 89677Y100 | 505,600 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
| ROYAL DUTCH SHELL PLC SPONSORED (rds a) | ADR | 780259206 | 385,894 | 6,370 | SH | | SOLE | | 6,370 | 0 | 0 |
| The Western Union Company (wu) | COM | 959802109 | 268,800 | 14,000 | SH | | SOLE | | 14,000 | 0 | 0 |
| Mimedx Group Inc. (mdxg) | COM | 602496101 | 126,700 | 10,665 | SH | | SOLE | | 10,665 | 0 | 0 |
| Axsome Therapeutics Inc. (axsm) | COM | 05464T104 | 103,923 | 18,725 | SH | | SOLE | | 18,725 | 0 | 0 |
| MEDLEY CAPITAL CORP (mcc) | COM | 58503F106 | 88,087 | 14,755 | SH | | SOLE | | 14,755 | 0 | 0 |
| Kcap Financial Inc. (kcap) | COM | 48668E101 | 60,298 | 16,520 | SH | | SOLE | | 16,520 | 0 | 0 |
