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

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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ARBOR REALTY TRUST I COM 038923108 9,183 495,566 SH   SOLE 1 495,566 0 0
ALIBABA GROUP HOLDING LTD SPONSORED ADS 01609W102 3,052 20,615 SH   SOLE 2 20,615 0 0
ALPHABET INC CAP STK CL C 02079K107 5,864 2,200 SH   SOLE 2 2,200 0 0
AMAZON.COM INC COM 023135106 3,942 1,200 SH   SOLE 2 1,200 0 0
ARES CAPITAL CORP COM 04010L103 3,729 183,412 SH   SOLE 1 183,412 0 0
ARES COML REAL ESTAT COM 04013V108 24,058 1,595,365 SH   SOLE 1 1,595,365 0 0
BLACKROCK MUNIHLDS I COM 09254P108 1,286 88,537 SH   SOLE 1 88,537 0 0
BLACKROCK MUNIHOLDIN COM 09254C107 248 17,949 SH   SOLE 1 17,949 0 0
BLACKSTONE MTG TR IN COM CL A 09257W100 729 24,030 SH   SOLE 1 24,030 0 0
BROOKFIELD REAL ASST INC SHS BEN INT 112830104 225 10,780 SH   SOLE 1 10,780 0 0
DWS MUN INCOME TR COM 233368109 1,243 104,452 SH   SOLE 1 104,452 0 0
DYNEX CAPITAL REIT ORD COM 26817Q886 403 23,303 SH   SOLE 1 23,303 0 0
ENERGY TRANSFER UNT COM UT LTD PTN 29273V100 47,828 4,992,483 SH   SOLE 1 4,992,483 0 0
GOLUB CAPITAL BDC ORD COM 38173M102 929 58,746 SH   SOLE 1 58,746 0 0
INVESCO CALIF MUN IN COM 46132P108 1,658 101,662 SH   SOLE 1 101,662 0 0
INVESCO EXCHANGE-TRA SR LN ETF 46138G508 2,879 130,200 SH   SOLE 1 130,200 0 0
INVESCO TR INVT GRAD COM 46131M106 2,057 150,242 SH   SOLE 1 150,242 0 0
ISHARES MSCI CHINA ETF MSCI CHINA ETF 46429B671 12,209 180,788 SH   SOLE 2 180,788 0 0
MAIN STREET CAPITAL ORD COM 56035L104 834 20,281 SH   SOLE 1 20,281 0 0
MICROSOFT CORP COM 594918104 4,567 16,200 SH   SOLE 2 16,200 0 0
MPLX LP COM UNIT REP LTD 55336V100 56,286 1,977,030 SH   SOLE 1,2 1,977,030 0 0
NEW YORK MORTGAGE REIT ORD COM PAR $.02 649604501 17,287 4,057,963 SH   SOLE 1 4,057,963 0 0
NUVEEN AMT FREE QLTY COM 670657105 6,091 401,000 SH   SOLE 1 401,000 0 0
NUVEEN QUALITY MUNCP COM 67066V101 6,208 397,452 SH   SOLE 1 397,452 0 0
OXFORD LANE CAP CORP COM 691543102 1,915 265,536 SH   SOLE 1 265,536 0 0
SIXTH STREET SPECIAL COM 83012A109 36,986 1,665,266 SH   SOLE 1 1,665,266 0 0
SNOWFLAKE INC CL A 833445109 2,613 8,640 SH   SOLE 2 8,640 0 0
SPDR S&P CHINA ETF S&P CHINA ETF 78463X400 2,922 26,459 SH   SOLE 2 26,459 0 0
VANECK VECTORS ETF T FALLEN ANGEL HG 92189F437 6,114 185,000 SH   SOLE 1 185,000 0 0
VANGUARD TOTAL STOCK MARKET E TOTAL STK MKT 922908769 76,388 343,532 SH   SOLE 2 343,532 0 0