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 22 900 SH   SOLE NONE 900 0 0
ALPHABET INC CAP STK CL A 02079K305 173,822 60,000 SH   SOLE NONE 60,000 0 0
AMAZON.COM INC COM 023135106 33,343 10,000 SH   SOLE NONE 10,000 0 0
ARBOR REALTY TRUST INC COM 038923108 42,918 2,342,694 SH   SOLE NONE 2,342,694 0 0
ASHLAND GLOBAL HOLDINGS INC COM 044186104 93,876 871,965 SH   SOLE NONE 871,965 0 0
ASPEN GROUP INC COM 04530L203 5,711 2,420,000 SH   SOLE NONE 2,420,000 0 0
ATHENE HOLDING LTD CL A G0684D107 133,328 1,600,000 SH   SOLE NONE 1,600,000 0 0
BARINGS BDC INC COM 06759L103 5,296 480,572 SH   SOLE NONE 480,572 0 0
BAUSCH HEALTH COS INC COM 071734107 69,025 2,500,000 SH   SOLE NONE 2,500,000 0 0
CHIMERA INVESTMENT CORP COM 16934Q208 51,336 3,404,260 SH   SOLE NONE 3,404,260 0 0
CIGNA CORP COM 125523100 103,334 450,000 SH   SOLE NONE 450,000 0 0
CITIGROUP INC COM 172967424 22,948 380,000 SH   SOLE NONE 380,000 0 0
COTERRA ENERGY INC COM 127097103 60,800 3,200,000 SH   SOLE NONE 3,200,000 0 0
DEVON ENERGY CORP COM 25179M103 119,881 2,721,469 SH   SOLE NONE 2,721,469 0 0
DIAMEDICA THERAPEUTICS INC COM 25253X207 1,119 300,000 SH   SOLE NONE 300,000 0 0
DISCOVERY INC COM SER A 25470F104 7,180 305,000 SH   SOLE NONE 305,000 0 0
ELLINGTON FINANCIAL INC COM 28852N109 14,697 860,000 SH   SOLE NONE 860,000 0 0
ENERGY TRANSFER LP COM UT LTD PTN 29273V100 57,610 7,000,000 SH   SOLE NONE 7,000,000 0 0
ENTERPRISE PRODUCTS PARTNERS COM 293792107 4,747 216,150 SH   SOLE NONE 216,150 0 0
FALCON MINERALS CORP CL A COM 30607B109 8,523 1,750,000 SH   SOLE NONE 1,750,000 0 0
FINANCE OF AMERICA COS INC COM CL A 31738L107 20,108 5,065,000 SH   SOLE NONE 5,065,000 0 0
FIRST EAGLE ALTERNATIVE CAPI COM 26943B100 9,735 2,177,810 SH   SOLE NONE 2,177,810 0 0
FISERV INC COM 337738108 106,966 1,030,600 SH   SOLE NONE 1,030,600 0 0
GAN LTD SHS G3728V109 4,203 457,388 SH   SOLE NONE 457,388 0 0
GANNETT CO INC COM 36472T109 8,235 1,545,062 SH   SOLE NONE 1,545,062 0 0
GENERAL MOTORS CO COM 37045V100 43,973 750,000 SH   SOLE NONE 750,000 0 0
ISHARES TR CORE MSCI EURO 46434V738 1,728 29,716 SH   SOLE NONE 29,716 0 0
ISHARES TR MSCI CDA ETF 464286509 482 12,531 SH   SOLE NONE 12,531 0 0
ISHARES TR MSCI EAFE ETF 464287465 5,799 73,706 SH   SOLE NONE 73,706 0 0
ISHARES INC MSCI JPN ETF 46434G822 836 12,481 SH   SOLE NONE 12,481 0 0
ISHARES INC MSCI PAC JP ETF 464286665 793 16,605 SH   SOLE NONE 16,605 0 0
ISHARES INC MSCI WORLD ETF 464286392 450 3,329 SH   SOLE NONE 3,329 0 0
ISHARES TR S&P 500 GRWT EFT 464287309 1,942 23,214 SH   SOLE NONE 23,214 0 0
LAS VEGAS SANDS CORP COM 517834107 27,225 723,300 SH   SOLE NONE 723,300 0 0
LITHIA MOTORS INC COM 536797103 44,543 150,000 SH   SOLE NONE 150,000 0 0
MICROSOFT CORP COM 594918104 82,636 245,705 SH   SOLE NONE 245,705 0 0
MIRION TECHNOLOGIES INC COM CL A 60471A101 31,410 3,000,000 SH   SOLE NONE 3,000,000 0 0
MOTOROLA SOLUTIONS INC COM 620076307 27,170 100,000 SH   SOLE NONE 100,000 0 0
MP MATERIALS CORP COM CL A 553368101 97,194 2,139,900 SH   SOLE NONE 2,139,900 0 0
MR COOPER GROUP INC COM 62482R107 176,801 4,249,000 SH   SOLE NONE 4,249,000 0 0
NRG ENERGY INC COM 629377508 25,848 600,000 SH   SOLE NONE 600,000 0 0
OCWEN FINANCIAL CORP COM 675746606 3,983 99,641 SH   SOLE NONE 99,641 0 0
OWL ROCK CAPITAL CORP COM 69121K104 1,586 112,000 SH   SOLE NONE 112,000 0 0
PENNYMAC FINANCIAL SERVICES COM 70932M107 3,489 50,000 SH   SOLE NONE 50,000 0 0
PIONEER NATURAL RESOURCES CO COM 723787107 25,463 140,000 SH   SOLE NONE 140,000 0 0
SCHWAB STRATEGIC TR SHT TM US TRES 808524862 1,553 30,544 SH   SOLE NONE 30,544 0 0
SIERRA METALS INC COM 82639W106 4,673 3,435,858 SH   SOLE NONE 3,435,858 0 0
SUNOPTA INC COM 8676EP108 13,900 2,000,000 SH   SOLE NONE 2,000,000 0 0
SURGALIGN HOLDINGS INC COM 86882C105 2,383 3,326,000 SH   SOLE NONE 3,326,000 0 0
TRINITY INDUSTRIES INC COM 896522109 58,890 1,950,000 SH   SOLE NONE 1,950,000 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 817 11,972 SH   SOLE NONE 11,972 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 22,276 51,026 SH   SOLE NONE 51,026 0 0
VENTAS INC COM 92276F100 69 1,342 SH   SOLE NONE 1,342 0 0
VERTIV HOLDINGS CO COM CL A 92537N108 49,940 2,000,000 SH   SOLE NONE 2,000,000 0 0
VIRGIN ORBIT HOLDINGS INC COMMON STOCK 92771A101 5,000 500,000 SH   SOLE NONE 500,000 0 0
WILLSCOT MOBILE MINI HOLDING COM CL A 971378104 69,385 1,698,951 SH   SOLE NONE 1,698,951 0 0