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 7,027 495,566 SH   SOLE 1 495,566 0 0
ALIBABA GROUP HOLDING LTD SPONSORED ADS 01609W102 5,050 21,700 SH   SOLE 1 21,700 0 0
ALPHABET INC CAP STK CL C 02079K107 3,854 2,200 SH   SOLE 1 2,200 0 0
AMAZON.COM INC COM 023135106 3,908 1,200 SH   SOLE 1 1,200 0 0
ARES CAPITAL ORD COM 04010L103 13,017 770,708 SH   SOLE 1 770,708 0 0
ARES COMMERCIAL REIT ORD COM 04013V108 18,304 1,536,878 SH   SOLE 1 1,536,878 0 0
BLACKROCK MUNIHDS INV QL COM 09254P108 1,247 88,537 SH   SOLE 1 88,537 0 0
BLACKROCK MUNIHDS QLY II COM 09254C107 903 66,127 SH   SOLE 1 66,127 0 0
BNY MELLON STRAT MUNI COM 05588W108 208 24,502 SH   SOLE 1 24,502 0 0
BROOKFIELD REAL ASST INC SHS BEN INT 112830104 192 10,780 SH   SOLE 1 10,780 0 0
DWS MUN INCOME TR COM 233368109 1,447 124,452 SH   SOLE 1 124,452 0 0
DYNEX CAPITAL REIT ORD COM 26817Q886 415 23,303 SH   SOLE 1 23,303 0 0
ENERGY TRANSFER UNT COM UT LTD PTN 29273V100 30,854 4,992,483 SH   SOLE 1 4,992,483 0 0
GOLUB CAPITAL BDC ORD COM 38173M102 831 58,746 SH   SOLE 1 58,746 0 0
INVESCO ADVANTAGE MU SH BEN INT 46132E103 396 34,896 SH   SOLE 1 34,896 0 0
INVESCO CALIF MUN IN COM 46132P108 1,995 127,445 SH   SOLE 1 127,445 0 0
INVESCO EXCHANGE-TRA SR LN ETF 46138G508 2,901 130,200 SH   SOLE 1 130,200 0 0
INVESCO TR INVT GRAD COM 46131M106 1,985 150,242 SH   SOLE 1 150,242 0 0
ISHARES MSCI CHINA ETF MSCI CHINA ETF 46429B671 4,621 57,067 SH   SOLE 1 57,067 0 0
KRANESHARES CSI CHINA INTERNE CSI CHI INTERNET 500767306 2,264 29,480 SH   SOLE 1 29,480 0 0
MAIN STREET CAPITAL ORD COM 56035L104 654 20,281 SH   SOLE 1 20,281 0 0
MICROSOFT CORP COM 594918104 3,603 16,200 SH   SOLE 1 16,200 0 0
MPLX LP COM UNIT REP LTD 55336V100 44,612 2,060,600 SH   SOLE 1 2,060,600 0 0
NEW YORK MORTGAGE REIT ORD COM PAR $.02 649604501 24,752 6,707,963 SH   SOLE 1 6,707,963 0 0
NUVEEN AMT FREE MUN COM 67071L106 1,087 64,787 SH   SOLE 1 64,787 0 0
NUVEEN AMT FREE QLTY COM 670657105 7,565 501,000 SH   SOLE 1 501,000 0 0
NUVEEN QUALITY MUNCP COM 67066V101 7,646 497,452 SH   SOLE 1 497,452 0 0
OXFORD LANE CAP CORP COM 691543102 465 85,885 SH   SOLE 1 85,885 0 0
SIXTH STREET SPECIAL COM 83012A109 32,900 1,585,544 SH   SOLE 1 1,585,544 0 0
SPDR S&P CHINA ETF S&P CHINA ETF 78463X400 4,631 35,562 SH   SOLE 1 35,562 0 0
VANECK VECTORS ETF T FALLEN ANGEL HG 92189F437 2,568 80,000 SH   SOLE 1 80,000 0 0
VANGUARD TOTAL STOCK MARKET E TOTAL STK MKT 922908769 52,283 268,615 SH   SOLE 1 268,615 0 0