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
ARBOR REALTY REIT ORD COM 038923108 1,677 342,328 SH   SOLE   342,328 0 0
ARES CAPITAL ORD COM 04010L103 8,308 770,708 SH   SOLE   770,708 0 0
ARES COMMERCIAL REIT ORD COM 04013V108 10,274 1,469,769 SH   SOLE   1,469,769 0 0
BLACKROCK MUNIHDS INV QL COM 09254P108 1,158 88,537 SH   SOLE   88,537 0 0
BLACKROCK MUNIHDS QLY II COM 09254C107 739 61,591 SH   SOLE   61,591 0 0
BLACKSTONE MORTGAGE CL A REIT ORD COM CL A 09257W100 19,802 1,063,468 SH   SOLE   1,063,468 0 0
BNY MELLON STRAT MUNI COM 05588W108 183 24,502 SH   SOLE   24,502 0 0
BROOKFIELD REAL ASST INC SHS BEN INT 112830104 158 10,780 SH   SOLE   10,780 0 0
DWS MUNICIPAL INCOME TR COM 233368109 1,126 104,452 SH   SOLE   104,452 0 0
DYNEX CAPITAL REIT ORD COM 26817Q886 243 23,303 SH   SOLE   23,303 0 0
ENERGY TRANSFER UNT COM UT LTD PTN 29273V100 29,281 6,365,383 SH   SOLE   6,365,383 0 0
GOLUB CAPITAL BDC ORD COM 38173M102 702 55,871 SH   SOLE   55,871 0 0
INVESCO SENIOR LOAN SR LN ETF 46138G508 25,170 1,230,200 SH   SOLE   1,230,200 0 0
INVESCO TR INV GRD COM 46131M106 1,561 129,142 SH   SOLE   129,142 0 0
INVESCO VAL MUNI INC COM 46132P108 1,514 107,065 SH   SOLE   107,065 0 0
ISHARES TR IBOXX HI YD ETF 464288513 19,499 253,000 SH   SOLE   253,000 0 0
MAIN STREET CAPITAL ORD COM 56035L104 410 20,000 SH   SOLE   20,000 0 0
MPLX COM UNT COM UNIT REP LTD 55336V100 16,675 1,435,000 SH   SOLE   1,435,000 0 0
NEW YORK MORTGAGE REIT ORD COM PAR $.02 649604501 10,397 6,707,963 SH   SOLE   6,707,963 0 0
NUVEEN AMT FREE MNCPL CRDT INCM CF COM 67071L106 589 40,100 SH   SOLE   40,100 0 0
NUVEEN AMT-FR QLTY MUN I COM 670657105 6,242 461,000 SH   SOLE   461,000 0 0
NUVEEN QUALITY MUNI INC COM 67066V101 6,766 492,452 SH   SOLE   492,452 0 0
TPG SPECIALTY LENDING ORD COM 87265K102 21,778 1,564,544 SH   SOLE   1,564,544 0 0
TWO HARBORS INVESTMENT REIT ORD COM NEW 90187B408 22,130 5,808,482 SH   SOLE   5,808,482 0 0