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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACTIVISION BLIZZARD INC COM 00507V109 BBG001S6C009 3,591,180 42,600 SH Call SOLE 1 42,600 0 0
AG MTG INVT TR INC COM NEW 001228501 BBG001V0PK00 292,818 47,846 SH   SOLE 1 47,846 0 0
AMC ENTMT HLDGS INC CL A COM 00165C104 BBG001SZYYL4 8,658,320 1,967,800 SH Call SOLE 1 1,967,800 0 0
AMC ENTMT HLDGS INC CL A COM 00165C104 BBG001SZYYL4 48,281,640 10,973,100 SH Put SOLE 1 10,973,100 0 0
ANNALY CAPITAL MANAGEMENT IN COM NEW 035710839 BBG001S8J4S0 19,258,264 962,432 SH   SOLE 1 962,432 0 0
ANYWHERE REAL ESTATE INC COM 75605Y106 BBG001SSDCC1 3,220 482 SH   SOLE 1 482 0 0
ANYWHERE REAL ESTATE INC COM 75605Y106 BBG001SSDCC1 765,528 114,600 SH Call SOLE 1 114,600 0 0
ARES ACQUISITION CORPORATION *W EXP 02/02/202 G33032122   36,630 45,788 SH   SOLE 1 45,788 0 0
ARK ETF TR INNOVATION ETF 00214Q104 BBG007FJMV49 2,207,000 50,000 SH Call SOLE 1 50,000 0 0
ARK ETF TR INNOVATION ETF 00214Q104 BBG007FJMV49 2,207,000 50,000 SH Put SOLE 1 50,000 0 0
ARROWROOT ACQUISITION CORP *W EXP 03/02/202 04282M110   11,457 49,999 SH   SOLE 1 49,999 0 0
B. RILEY FINANCIAL INC COM 05580M108 BBG001SV8TK4 1,839,200 40,000 SH Put SOLE 1 40,000 0 0
BAUSCH HEALTH COS INC COM 071734107 BBG001S7WDP0 3,704,000 463,000 SH   SOLE 1 463,000 0 0
BLUERIVER ACQUISITION CORP *W EXP 01/04/202 G1261Q115   605 18,332 SH   SOLE 1 18,332 0 0
CANADIAN SOLAR INC COM 136635109 BBG001SPNJT3 1,160,700 30,000 SH Call SOLE 1 30,000 0 0
COMPASS INC CL A 20464U100 BBG00J5SXTJ1 5,384,421 1,538,406 SH   SOLE 1 1,538,406 0 0
CONSTELLATION ACQUISITN CORP *W EXP 01/29/202 G2R18K113   782 13,333 SH   SOLE 1 13,333 0 0
D R HORTON INC COM 23331A109 BBG001S8M692 3,650,943 30,002 SH   SOLE 1 30,002 0 0
DHC ACQUISITION CORP *W EXP 02/25/202 G2758T117   2,870 49,998 SH   SOLE 1 49,998 0 0
DYNEX CAP INC COM 26817Q886 BBG001S5R078 802,247 63,721 SH   SOLE 1 63,721 0 0
ELLINGTON FINANCIAL INC COM 28852N109 BBG001SQ6V04 12,794,546 927,141 SH   SOLE   927,141 0 0
ELLINGTON RESIDENTIAL MTG RE COM SHS BEN INT 288578107 BBG004DFMB86 1,074,910 149,086 SH   SOLE   149,086 0 0
ESSENT GROUP LTD COM G3198U102 BBG0058YL868 2,670,502 57,062 SH   SOLE 1 57,062 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 BBG006N7S6J1 4,947,372 137,427 SH   SOLE 1 137,427 0 0
GLOBALSTAR INC COM 378973408 BBG001SPN4X1 8,257,032 7,645,400 SH Call SOLE 1 7,645,400 0 0
GOLDEN ARROW MERGER CORP *W EXP 07/31/202 380799114   1,500 49,999 SH   SOLE 1 49,999 0 0
GREAT AJAX CORP COM 38983D300 BBG008200KY7 1,679,516 273,983 SH   SOLE 1 273,983 0 0
INVESCO EXCH TRADED FD TR II SR LN ETF 46138G508 BBG001V0MBC0 27,352,000 1,300,000 SH Put SOLE 1 1,300,000 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B704 BBG001T2XPD5 800,354 69,778 SH   SOLE 1 69,778 0 0
ISHARES TR IBOXX HI YD ETF 464288513 BBG001ST0ZQ7 4,529,424 60,336 SH   SOLE 1 60,336 0 0
ISHARES TR IBOXX HI YD ETF 464288513 BBG001ST0ZQ7 37,535,000 500,000 SH Put SOLE 1 500,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 BBG001S60QR6 999,646 9,244 SH   SOLE 1 9,244 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 BBG001SFC7Y7 49,065 262 SH   SOLE 1 262 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 BBG001SFC7Y7 4,681,750 25,000 SH Put SOLE 1 25,000 0 0
ISHARES TR US HOME CONS ETF 464288752 BBG001SQZTR8 8,287,680 97,000 SH Put SOLE 1 97,000 0 0
JAWS MUSTANG ACQUISITION COR *W EXP 01/30/202 G50737124   625 12,499 SH   SOLE 1 12,499 0 0
KB HOME COM 48666K109 BBG001S5SJV9 1,344 26 SH   SOLE 1 26 0 0
KB HOME COM 48666K109 BBG001S5SJV9 2,714,775 52,500 SH Put SOLE 1 52,500 0 0
KERNEL GROUP HOLDINGS INC *W EXP 02/02/202 G5259L129   8,190 75,000 SH   SOLE 1 75,000 0 0
LOCAL BOUNTI CORP *W EXP 99/99/999 53960E114   1,564 18,398 SH   SOLE 1 18,398 0 0
MASTERBRAND INC COMMON STOCK 57638P104 BBG01B9G4424 679,925 58,463 SH   SOLE 1 58,463 0 0
MFA FINL INC COM 55272X607 BBG001S86YS8 19,780,849 1,759,862 SH   SOLE 1 1,759,862 0 0
MGIC INVT CORP WIS COM 552848103 BBG001S6SFR0 2,649,988 167,827 SH   SOLE 1 167,827 0 0
MOVELLA HOLDINGS INC *W EXP 02/10/202 62459N113   1,675 14,837 SH   SOLE 1 14,837 0 0
MR COOPER GROUP INC COM 62482R107 BBG002V09956 12,919,479 255,124 SH   SOLE 1 255,124 0 0
NCL CORP LTD NOTE 2.500% 2/1 62886HBK6   2,360,333 2,500,000 PRN   SOLE 1 2,500,000 0 0
NEW YORK MTG TR INC COM 649604840 BBG001SHHBR7 2,305,071 232,366 SH   SOLE 1 232,366 0 0
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 BBG001SCKPS2 20,463,800 940,000 SH Put SOLE 1 940,000 0 0
OPORTUN FINL CORP COM 68376D104 BBG001S8N4V1 16,272,441 2,725,702 SH   SOLE 1 2,725,702 0 0
PENNYMAC CORP NOTE 5.500% 3/1 70932AAF0   890,800 1,000,000 PRN   SOLE 1 1,000,000 0 0
PENNYMAC CORP NOTE 5.500%11/0 70932AAD5   472,455 500,000 PRN   SOLE 1 500,000 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107 BBG00LMYX132 1,415,622 20,134 SH   SOLE 1 20,134 0 0
QUADRO ACQUISITION ONE CORP *W EXP 06/30/202 G52807115   2,753 41,032 SH   SOLE 1 41,032 0 0
RITHM CAPITAL CORP COM NEW 64828T201 BBG003T1GM12 14,261,583 1,525,303 SH   SOLE 1 1,525,303 0 0
RMG ACQUISITION CORP III *W EXP 02/08/202 G76088122   1,101 10,000 SH   SOLE 1 10,000 0 0
SEADRILL 2021 LTD COM G7997W102 BBG015K887C0 1,817,696 44,044 SH   SOLE 1 44,044 0 0
SLAM CORP *W EXP 02/23/202 G8210L121   3,800 19,999 SH   SOLE 1 19,999 0 0
SMARTRENT INC COM CL A 83193G107 BBG00Z0H9PZ1 452,078 118,036 SH   SOLE 1 118,036 0 0
SOCIAL LEVERAGE ACQUISN CORP *W EXP 02/17/202 83363K110   2,375 12,499 SH   SOLE 1 12,499 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 BBG001S72SM3 82,006,800 185,000 SH Put SOLE 1 185,000 0 0
SUSTAINABLE DEVELP ACQU I CO *W EXP 02/04/202 86934L111   750 25,000 SH   SOLE 1 25,000 0 0
TOLL BROTHERS INC COM 889478103 BBG001S5WT15 15,500,092 196,030 SH   SOLE 1 196,030 0 0
TOLL BROTHERS INC COM 889478103 BBG001S5WT15 4,111,640 52,000 SH Call SOLE 1 52,000 0 0
TWELVE SEAS INVESTMENT CO II *W EXP 03/02/202 90118T114   1,112 16,666 SH   SOLE 1 16,666 0 0
VROOM INC NOTE 0.750% 7/0 92918VAB5   3,355,693 7,200,000 PRN   SOLE 1 7,200,000 0 0
WALKER & DUNLOP INC COM 93148P102 BBG001T0JGM5 1,285,529 16,254 SH   SOLE 1 16,254 0 0
ZILLOW GROUP INC CL C CAP STK 98954M200 BBG009NRSWK2 5,867,805 116,749 SH   SOLE 1 116,749 0 0
ZILLOW GROUP INC CL C CAP STK 98954M200 BBG009NRSWK2 201,040 4,000 SH Call SOLE 1 4,000 0 0
ZILLOW GROUP INC CL C CAP STK 98954M200 BBG009NRSWK2 95,494 1,900 SH Put SOLE 1 1,900 0 0