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
AGNC INVT CORP COM 00123Q104 165,986 7,796,423 SH   SOLE   7,796,423 0 0
ALLERGAN PLC SHS G0177J108 4,133 17,000 SH   SOLE   17,000 0 0
ALPHABET INC CAP STK CL A 02079K305 61,390 66,034 SH   SOLE   66,034 0 0
AMAZON COM INC COM 023135106 86,152 89,000 SH   SOLE   89,000 0 0
AMBARELLA INC SHS G037AX101 1,054 21,700 SH   SOLE   21,700 0 0
ANNALY CAP MGMT INC COM 035710409 81,122 6,732,147 SH   SOLE   6,732,147 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 58,118 3,133,033 SH   SOLE   3,133,033 0 0
APPLE INC COM 037833100 255,957 1,777,234 SH   SOLE   1,777,234 0 0
APPLIED MATLS INC COM 038222105 48,444 1,172,700 SH   SOLE   1,172,700 0 0
AUSTRALIA & NEW ZEALA BKG 14 DEBT 4.400% 5/1 Q0426RND6 49,978 50,000,000 SH   SOLE   0 0 50,000,000
BANK AMER CORP COM 060505104 74,308 3,062,999 SH   SOLE   3,062,999 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 83,240 1,493,907 SH   SOLE   1,493,907 0 0
BROADCOM LTD SHS Y09827109 66,233 284,200 SH   SOLE   284,200 0 0
CELGENE CORP COM 151020104 10,771 82,934 SH   SOLE   82,934 0 0
COHERENT INC COM 192479103 19,893 88,418 SH   SOLE   88,418 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 12,947 109,500 SH   SOLE   109,500 0 0
EOG RES INC COM 26875P101 140,780 1,555,238 SH   SOLE   1,555,238 0 0
EXXON MOBIL CORP COM 30231G102 43,832 542,944 SH   SOLE   542,944 0 0
FACEBOOK INC CL A 30303M102 150,757 998,520 SH   SOLE   998,520 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 203,039 915,000 SH   SOLE   915,000 0 0
HALLIBURTON CO COM 406216101 26,342 616,771 SH   SOLE   616,771 0 0
HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106 7,078 863,195 SH   SOLE   863,195 0 0
ISHARES MSCI EURZONE ETF 464286608 12,389 307,240 SH   SOLE   307,240 0 0
ISHARES INC CORE MSCI EMKT 46434G103 4,446 88,849 SH   SOLE   88,849 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 3,406 63,492 SH   SOLE   63,492 0 0
ISHARES TR IBOXX HI YD ETF 464288513 103,384 1,169,629 SH   SOLE   1,169,629 0 0
ISHARES TR IBOXX INV CP ETF 464287242 32,738 271,659 SH   SOLE   271,659 0 0
ISHARES TR GLOB HLTHCRE ETF 464287325 3,281 30,000 SH   SOLE   30,000 0 0
ISHARES TR CHINA ETF 46429B671 315 5,758 SH   SOLE   5,758 0 0
ISHARES TR MTG REL ETF NEW 46435G342 53,159 1,146,161 SH   SOLE   1,146,161 0 0
ISHARES TR USA VALUE FACTOR 46432F388 824 11,200 SH   SOLE   11,200 0 0
ISHARES TR CORE S&P500 ETF 464287200 803 3,300 SH   SOLE   3,300 0 0
ISHARES TR MSCI EAFE ETF 464287465 4,907 75,255 SH   SOLE   75,255 0 0
ISHARES TR U.S. REAL ES ETF 464287739 4,782 59,946 SH   SOLE   59,946 0 0
JPMORGAN CHASE & CO COM 46625H100 93,685 1,025,000 SH   SOLE   1,025,000 0 0
KINDER MORGAN INC DEL COM 49456B101 82,918 4,327,685 SH   SOLE   4,327,685 0 0
KKR REAL ESTATE FIN TR INC COM 48251K100 75,250 3,500,000 SH   SOLE   3,500,000 0 0
LAM RESEARCH CORP COM 512807108 7,015 49,600 SH   SOLE   49,600 0 0
MICROSOFT CORP COM 594918104 17,164 249,000 SH   SOLE   249,000 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 196,655 12,638,505 SH   SOLE   12,638,505 0 0
NIKE INC CL B 654106103 71,556 1,212,817 SH   SOLE   1,212,817 0 0
PACCAR INC COM 693718108 11,755 178,000 SH   SOLE   178,000 0 0
PARSLEY ENERGY INC CL A 701877102 77,220 2,782,700 SH   SOLE   2,782,700 0 0
PHILLIPS 66 COM 718546104 134,618 1,627,979 SH   SOLE   1,627,979 0 0
PIMCO DYNAMIC INCOME FD SHS 72201Y101 63,477 2,103,278 SH   SOLE   2,103,278 0 0
PIMCO DYNMIC CREDIT AND MRT COM SHS 72202D106 108,748 4,872,242 SH   SOLE   4,872,242 0 0
PIONEER NAT RES CO COM 723787107 67,744 424,515 SH   SOLE   424,515 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 241,364 10,430,617 SH   SOLE   10,430,617 0 0
PROSHARES TR S&P 500 DV ARIST 74348A467 3,420 59,200 SH   SOLE   59,200 0 0
SCHLUMBERGER LTD COM 806857108 13,168 200,000 SH   SOLE   200,000 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 5,122 78,900 SH   SOLE   78,900 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 1,554 16,200 SH   SOLE   16,200 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 21,980 246,195 SH   SOLE   246,195 0 0
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 114,662 2,310,806 SH   SOLE   2,310,806 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 144,372 3,880,977 SH   SOLE   3,880,977 0 0
SPDR SERIES TRUST BLOMBERG INTL TR 78464A516 4,977 180,115 SH   SOLE   180,115 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 5,338 167,229 SH   SOLE   167,229 0 0
STARWOOD PPTY TR INC COM 85571B105 214,637 9,586,286 SH   SOLE   9,586,286 0 0
TJX COS INC NEW COM 872540109 18,043 250,000 SH   SOLE   250,000 0 0
UNION PAC CORP COM 907818108 3,376 31,000 SH   SOLE   31,000 0 0
VANGUARD INDEX FDS REIT ETF 922908553 27,006 324,473 SH   SOLE   0 0 324,473
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 6,839 30,799 SH   SOLE   0 0 30,799
VANGUARD INDEX FDS TOTAL STK MKT 922908769 4,998 40,160 SH   SOLE   0 0 40,160
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 14,828 363,165 SH   SOLE   0 0 363,165
VANGUARD INTL EQUITY INDEX F GLB EX US ETF 922042676 4,984 88,607 SH   SOLE   0 0 88,607
VANGUARD WORLD FDS ENERGY ETF 92204A306 3,983 45,000 SH   SOLE   0 0 45,000
VERIZON COMMUNICATIONS INC COM 92343V104 109,330 2,448,059 SH   SOLE   2,448,059 0 0
VISA INC COM CL A 92826C839 81,589 870,000 SH   SOLE   870,000 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 4,057 78,000 SH   SOLE   78,000 0 0