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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
ADIT EDTECH ACQUISITION CORP COMMON STOCK 007024102 967 99,800 SH   SOLE   99,800 0 0
AG MTG INVT TR INC COM 001228105 4,080 955,602 SH   SOLE   955,602 0 0
AGILE GROWTH CORP UNIT 03/09/2026 G01202129 257 25,770 SH   SOLE   25,770 0 0
ANZU SPECIAL ACQUISITIN CORP UNIT 01/27/2026 03737A200 1,000 100,000 SH   SOLE   100,000 0 0
ARMOUR RESIDENTIAL REIT INC COM NEW 042315507 459 140,300 SH Put SOLE   140,300 0 0
ASTRONICS CORP COM 046433108 2,669 152,437 SH   SOLE   152,437 0 0
BITE ACQUISITION CORP UNIT 99/99/9999 09175K204 401 40,216 SH   SOLE   40,216 0 0
BOA ACQUISITION CORP UNIT 99/99/9999 05601A208 991 100,000 SH   SOLE   100,000 0 0
CROWN PROPTECH ACQUISITIONS UNIT 99/99/9999 G25741128 798 80,319 SH   SOLE   80,319 0 0
CUMULUS MEDIA INC COM CL A 231082801 6,614 451,467 SH   SOLE   451,467 0 0
DHC ACQUISITION CORP UNIT 02/25/2026 G2758T125 1,004 100,000 SH   SOLE   100,000 0 0
DIEBOLD NIXDORF INC COM STK 253651103 62,985 4,905,410 SH   SOLE   4,905,410 0 0
EJF ACQUISITION CORP UNIT 03/10/2026 G2955B117 787 78,901 SH   SOLE   78,901 0 0
EXTRACTION OIL & GAS INC COM 30227M303 18,244 348,776 SH   SOLE   348,776 0 0
FINTECH EVOLUTION ACQUIS GRO UNIT 99/99/9999 G3R19A112 998 100,000 SH   SOLE   100,000 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 226,934 8,596,000 SH   SOLE   8,596,000 0 0
FS KKR CAP CORP COM 302635206 84,387 3,923,156 SH   SOLE   3,923,156 0 0
GLOBAL PARTNER ACQISTN CORP UNIT 01/06/2026 G3934P110 810 81,868 SH   SOLE   81,868 0 0
GREENLIGHT CAP RE LTD NOTE 4.000% 8/0 395366AB3 5,395 5,700,000 SH   SOLE   5,700,000 0 0
HAEMONETICS CORP MASS COM 405024100 26,758 401,526 SH   SOLE   401,526 0 0
HC2 HLDGS INC NOTE 7.500% 8/0 404139AG2 2,486 2,155,000 SH   SOLE   2,155,000 0 0
HIGHLAND INCOME FD HIGHLAND INCOME 43010E404 1,914 175,461 SH   SOLE   175,461 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 5,050 1,294,993 SH   SOLE   1,294,993 0 0
LISTED FD TR AAF FRST PRIORTY 53656F656 2,503 100,000 SH   SOLE   100,000 0 0
MASON INDUSTRIAL TECHNOLGY I UNIT 99/99/9999 57520Y205 245 24,310 SH   SOLE   24,310 0 0
MFA FINL INC COM 55272X102 10,280 2,239,754 SH   SOLE   2,239,754 0 0
MFA FINL INC NOTE 6.250% 6/1 55272XAA0 10,983 10,847,000 SH   SOLE   10,847,000 0 0
MGIC INVT CORP WIS COM 552848103 8,286 609,296 SH   SOLE   609,296 0 0
MONEYGRAM INTL INC COM NEW 60935Y208 8,197 813,216 SH   SOLE   813,216 0 0
NCR CORP NEW COM 62886E108 47,421 1,039,715 SH   SOLE   1,039,715 0 0
NEW YORK MTG TR INC COM PAR $.02 649604501 507 113,410 SH   SOLE   113,410 0 0
NOBLE ROCK ACQUISITION CORP UNIT 01/31/2028 G6546R127 496 49,600 SH   SOLE   49,600 0 0
OYSTER ENTERPRISES ACQ CORP UNIT 01/20/2026 69242M203 969 96,870 SH   SOLE   96,870 0 0
PROPERTY SOLUTIONS ACQUISITI UNIT 03/01/2026 74350A207 250 25,000 SH   SOLE   25,000 0 0
RADIAN GROUP INC COM 750236101 7,454 335,000 SH   SOLE   335,000 0 0
REDWOOD TR INC COM 758075402 275 131,600 SH Call SOLE   131,600 0 0
ROSECLIFF ACQUISITION CORP I UNIT 99/99/9999 77732R202 1,004 100,000 SH   SOLE   100,000 0 0
SCIENCE STRATEGIC ACQ ALPHA UNIT 01/20/2026 808641203 891 89,672 SH   SOLE   89,672 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 15,188 457,193 SH   SOLE   457,193 0 0
STRATIM CLOUD ACQUISITION CO UNIT 03/05/2026 86309R206 500 50,000 SH   SOLE   50,000 0 0
TLG ACQUISITION ONE CORP UNIT 99/99/9999 87257M207 992 100,000 SH   SOLE   100,000 0 0
VELOCITY FINL INC COM 92262D101 34,426 2,756,315 SH   SOLE   2,756,315 0 0