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
ALLERGAN INC COM 018490102 19,282 90,702 SH   SOLE   90,702 0 0
AMEDISYS INC COM 023436108 1,070 36,451 SH   SOLE   36,451 0 0
AMERICAN CAP LTD COM 02503Y103 9,528 652,158 SH   SOLE   652,158 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 12,519 664,500 SH   SOLE   664,500 0 0
ANNALY CAP MGMT INC COM 035710409 875 80,980 SH   SOLE   80,980 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 10,811 685,524 SH   SOLE   685,524 0 0
ARENA PHARMACEUTICALS INC COM 040047102 247 71,200 SH   SOLE   71,200 0 0
ARENA PHARMACEUTICALS INC COM 040047102 3,011 867,700 SH Put SOLE   867,700 0 0
ASTA FDG INC COM 046220109 8,468 967,770 SH   SOLE   967,770 0 0
ATLANTIC PWR CORP COM NEW 04878Q863 15,305 5,644,710 SH   SOLE   5,644,710 0 0
BRIDGEPOINT ED INC COM 10807M105 9,092 803,167 SH   SOLE   803,167 0 0
CARRIZO OIL & GAS INC COM 144577103 18,643 448,156 SH   SOLE   448,156 0 0
CHERRY HILL MTG INVT CORP COM 164651101 2,798 151,325 SH   SOLE   151,325 0 0
CITIGROUP INC COM NEW 172967424 12,906 238,506 SH   SOLE   238,506 0 0
COVIDIEN PLC SHS G2554F113 12,274 120,000 SH   SOLE   120,000 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 10,268 400,000 SH   SOLE   400,000 0 0
FIFTH STR ASSET MGMT INC CL A COM 31679P109 3,650 261,620 SH   SOLE   261,620 0 0
GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 10,840 1,885,203 SH   SOLE   1,885,203 0 0
HATTERAS FINL CORP COM 41902R103 11,165 605,800 SH   SOLE   605,800 0 0
HUDSON CITY BANCORP COM 443683107 26,614 2,629,856 SH   SOLE   2,629,856 0 0
INTEROIL CORP COM 460951106 7,475 153,200 SH Call SOLE   153,200 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 11,835 765,519 SH   SOLE   765,519 0 0
LAMAR ADVERTISING CO CL A 512816109 13,201 246,102 SH   SOLE   246,102 0 0
MEDLEY MGMT INC CL A COM 58503T106 2,785 189,475 SH   SOLE   189,475 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 18,554 658,167 SH   SOLE   658,167 0 0
NL INDS INC COM NEW 629156407 2,367 275,208 SH   SOLE   275,208 0 0
OM ASSET MGMT PLC SHS G67506108 5,010 308,474 SH   SOLE   308,474 0 0
ORGANOVO HLDGS INC COM 68620A104 725 100,000 SH   SOLE   100,000 0 0
PARKERVISION INC COM 701354102 10 11,400 SH Put SOLE   11,400 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 12,764 242,015 SH   SOLE   242,015 0 0
SESA STERLITE LTD ADR 78413F103 904 66,605 SH   SOLE   66,605 0 0
SOLARCITY CORP NOTE 2.750%11/0 83416TAA8 5,421 5,000 PRN   SOLE   5,000 0 0
STATE NATL COS INC COM 85711T305 14,370 1,199,500 SH   SOLE   1,199,500 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107 7,468 422,888 SH   SOLE   422,888 0 0
TALISMAN ENERGY INC COM 87425E103 2,127 271,600 SH Call SOLE   271,600 0 0
TESLA MTRS INC NOTE 0.015 36678 88160RAA9 25,037 13,500 PRN   SOLE   13,500 0 0
TIME WARNER CABLE INC COM 88732J207 9,230 60,700 SH   SOLE   60,700 0 0
TWO HBRS INVT CORP COM 90187B101 3,868 386,000 SH   SOLE   386,000 0 0
VIRNETX HLDG CORP COM 92823T108 1,482 270,000 SH Put SOLE   270,000 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 13,766 883,014 SH   SOLE   883,014 0 0
ZAIS FINL CORP COM 98886K108 3,760 217,984 SH   SOLE   217,984 0 0