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
AES CORP COM 00130H105 13 900 SH   SOLE None 900 0 0
AMAZON.COM INC COM 023135106 31,726 11,500 SH   SOLE None 11,500 0 0
AMC NETWORKS INC CL A 00164V103 14,837 634,334 SH   SOLE None 634,334 0 0
ARBOR REALTY TRUST INC COM 038923108 22,249 2,407,932 SH   SOLE None 2,407,932 0 0
ASHLAND GLOBAL HOLDINGS INC COM 044186104 53,343 771,965 SH   SOLE None 771,965 0 0
ASPEN GROUP INC COM 04530L203 3,095 341,967 SH   SOLE None 341,967 0 0
ASSOCIATED CAPITAL GROUP CL A 045528106 316 8,600 SH   SOLE None 8,600 0 0
CENTENE CORP COM 15135B101 25,420 400,000 SH   SOLE None 400,000 0 0
CHIMERA INVESTMENT CORP COM 16934Q208 32,650 3,397,500 SH   SOLE None 3,397,500 0 0
CIGNA CORP COM 125523100 102,269 545,000 SH   SOLE None 545,000 0 0
CITIGROUP INC COM 172967424 18,907 370,000 SH   SOLE None 370,000 0 0
DENBURY RESOURCES INC COM 247916208 2,761 10,000,000 SH   SOLE None 10,000,000 0 0
ELLINGTON FINANCIAL INC COM 28852N109 8,953 760,000 SH   SOLE None 760,000 0 0
ENERGY TRANSFER LP COM UT LTD PTN 29273V100 35,829 5,032,200 SH   SOLE None 5,032,200 0 0
FACEBOOK INC CL A 30303M102 6,131 27,000 SH   SOLE None 27,000 0 0
FALCON MINERALS CORP CL A COM 30607B109 2,240 700,000 SH   SOLE None 700,000 0 0
FALCON MINERALS CORP *W EXP 07/21/202 30607B208 40 447,474 SH   SOLE None 447,474 0 0
FERRO CORP COM 315405100 38,457 3,220,869 SH   SOLE None 3,220,869 0 0
FISERV INC COM 337738108 100,607 1,030,600 SH   SOLE None 1,030,600 0 0
GAMCO INVESTORS INC CL A COM 361438104 114 8,600 SH   SOLE None 8,600 0 0
GANNETT CO INC COM 36472T109 2,525 1,829,927 SH   SOLE None 1,829,927 0 0
GRAY TELEVISION INC COM 389375106 13,950 1,000,000 SH   SOLE None 1,000,000 0 0
JPMORGAN CHASE & CO COM 46625H100 29,159 310,000 SH   SOLE None 310,000 0 0
LEE ENTERPRISES COM 523768109 838 855,210 SH   SOLE None 855,210 0 0
MAGNOLIA OIL & GAS CORP CL A 559663109 15,119 2,494,950 SH   SOLE None 2,494,950 0 0
MICROSOFT CORP COM 594918104 50,003 245,705 SH   SOLE None 245,705 0 0
MR COOPER GROUP INC COM 62482R107 51,633 4,150,573 SH   SOLE None 4,150,573 0 0
MVC CAPITAL INC COM 553829102 11,081 1,696,960 SH   SOLE None 1,696,960 0 0
NABORS INDUSTRIES LTD SHS G6359F103 518 14,000 SH   SOLE None 14,000 0 0
NAVIENT CORP COM 63938C108 20,879 2,970,000 SH   SOLE None 2,970,000 0 0
NEW SENIOR INVESTMENT GROUP COM 648691103 17,708 4,891,710 SH   SOLE None 4,891,710 0 0
OCWEN FINANCIAL CORP COM 675746309 8,755 13,185,525 SH   SOLE None 13,185,525 0 0
PARSLEY ENERGY INC CL A 701877102 26,700 2,500,000 SH   SOLE None 2,500,000 0 0
SIERRA METALS INC COM 82639W106 287 226,200 SH   SOLE None 226,200 0 0
SUNOPTA INC COM 8676EP108 6,486 1,380,000 SH   SOLE None 1,380,000 0 0
RTI SURGICAL HOLDINGS INC COM 74975N105 6,393 2,010,527 SH   SOLE None 2,010,527 0 0
THL CREDIT INC COM 872438106 590 182,100 SH   SOLE None 182,100 0 0
TRINITY INDUSTRIES INC COM 896522109 60,260 2,830,438 SH   SOLE None 2,830,438 0 0
VICI PROPERTIES INC COM 925652109 9,994 495,000 SH   SOLE None 495,000 0 0
WPX ENERGY INC COM 98212B103 41,062 6,436,000 SH   SOLE None 6,436,000 0 0