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 3,927 342,328 SH   SOLE 1 342,328 0 0
ARES CAPITAL ORD COM 04010L103 10,751 770,708 SH   SOLE 1 770,708 0 0
ARES COMMERCIAL REIT ORD COM 04013V108 13,434 1,469,769 SH   SOLE 1 1,469,769 0 0
BLACKROCK MUNIHDS INV QL COM 09254P108 1,187 88,537 SH   SOLE 1 88,537 0 0
BLACKROCK MUNIHDS QLY II COM 09254C107 842 66,127 SH   SOLE 1 66,127 0 0
BNY MELLON STRAT MUNI COM 05588W108 203 24,502 SH   SOLE 1 24,502 0 0
BROOKFIELD REAL ASST INC SHS BEN INT 112830104 178 10,780 SH   SOLE 1 10,780 0 0
DWS MUN INCOME TR COM 233368109 1,379 124,452 SH   SOLE 1 124,452 0 0
DYNEX CAPITAL REIT ORD COM 26817Q886 354 23,303 SH   SOLE 1 23,303 0 0
ENERGY TRANSFER UNT COM UT LTD PTN 29273V100 27,059 4,992,483 SH   SOLE 1 4,992,483 0 0
GOLUB CAPITAL BDC ORD COM 38173M102 778 58,746 SH   SOLE 1 58,746 0 0
INVESCO ADVANTAGE MU SH BEN INT 46132E103 377 34,896 SH   SOLE 1 34,896 0 0
INVESCO CALIF MUN IN COM 46132P108 1,875 127,445 SH   SOLE 1 127,445 0 0
INVESCO EXCHANGE-TRA SR LN ETF 46138G508 10,401 478,441 SH   SOLE 1 478,441 0 0
INVESCO TR INVT GRAD COM 46131M106 1,866 150,242 SH   SOLE 1 150,242 0 0
ISHARES TR IBOXX HI YD ETF 464288513 6,670 79,500 SH   SOLE 1 79,500 0 0
MAIN STREET CAPITAL ORD COM 56035L104 600 20,281 SH   SOLE 1 20,281 0 0
MPLX COM UNT COM UNIT REP LTD 55336V100 22,587 1,435,000 SH   SOLE 1 1,435,000 0 0
NEW YORK MORTGAGE REIT ORD COM PAR $.02 649604501 17,105 6,707,963 SH   SOLE 1 6,707,963 0 0
NUVEEN AMT FREE MUN COM 67071L106 1,015 64,787 SH   SOLE 1 64,787 0 0
NUVEEN AMT FREE QLTY COM 670657105 7,184 501,000 SH   SOLE 1 501,000 0 0
NUVEEN QUALITY MUNCP COM 67066V101 7,223 497,452 SH   SOLE 1 497,452 0 0
OXFORD LANE CAP CORP COM 691543102 53 12,000 SH   SOLE 1 12,000 0 0
SIXTH STREET SPECIAL COM 83012A109 29,288 1,701,794 SH   SOLE 1 1,701,794 0 0
VANECK VECTORS ETF T FALLEN ANGEL HG 92189F437 4,494 151,100 SH   SOLE 1 151,100 0 0