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
ARES COML REAL ESTAT COM 04013V108 23,589 1,622,331 SH   SOLE 1 1,622,331 0 0
ALIBABA GROUP HOLDING LTD SPONSORED ADS 01609W102 3,338 28,100 SH   SOLE 2 28,100 0 0
ALPHABET INC CAP STK CL C 02079K107 6,366 2,200 SH   SOLE 2 2,200 0 0
AMAZON.COM INC COM 023135106 4,001 1,200 SH   SOLE 2 1,200 0 0
ARBOR REALTY TRUST I COM 038923108 9,079 495,566 SH   SOLE 1 495,566 0 0
ARES CAPITAL CORP COM 04010L103 3,965 187,110 SH   SOLE 1 187,110 0 0
BLACKROCK MUNIHLDS I COM 09254P108 1,316 88,537 SH   SOLE 1 88,537 0 0
BLACKSTONE MTG TR IN COM CL A 09257W100 769 25,114 SH   SOLE 1 25,114 0 0
BROOKFIELD REAL ASST INC SHS BEN INT 112830104 228 10,780 SH   SOLE 1 10,780 0 0
DWS MUN INCOME TR COM 233368109 1,235 104,452 SH   SOLE 1 104,452 0 0
DYNEX CAPITAL REIT ORD COM 26817Q886 389 23,303 SH   SOLE 1 23,303 0 0
EAGLE PT CR CO LLC COM 269808101 504 36,019 SH   SOLE 1 36,019 0 0
ENERGY TRANSFER UNT COM UT LTD PTN 29273V100 43,030 5,228,483 SH   SOLE 1,2 5,228,483 0 0
GOLUB CAPITAL BDC ORD COM 38173M102 907 58,746 SH   SOLE 1 58,746 0 0
INVESCO CALIF MUN IN COM 46132P108 967 56,724 SH   SOLE 1 56,724 0 0
INVESCO EXCHANGE-TRA SR LN ETF 46138G508 2,877 130,200 SH   SOLE 1 130,200 0 0
INVESCO TR INVT GRAD COM 46131M106 2,099 150,242 SH   SOLE 1 150,242 0 0
ISHARES MSCI CHINA ETF MSCI CHINA ETF 46429B671 10,868 173,143 SH   SOLE 2 173,143 0 0
MICROSOFT CORP COM 594918104 5,448 16,200 SH   SOLE 2 16,200 0 0
MPLX LP COM UNIT REP LTD 55336V100 60,544 2,046,079 SH   SOLE 1,2 2,046,079 0 0
NUVEEN AMT FREE QLTY COM 670657105 6,256 401,000 SH   SOLE 1 401,000 0 0
NUVEEN QUALITY MUNCP COM 67066V101 6,403 397,452 SH   SOLE 1 397,452 0 0
OXFORD LANE CAP CORP COM 691543102 2,010 260,680 SH   SOLE 1 260,680 0 0
SIXTH STREET SPECIAL COM 83012A109 38,638 1,651,913 SH   SOLE 1 1,651,913 0 0
SNOWFLAKE INC CL A 833445109 1,833 5,412 SH   SOLE 2 5,412 0 0
VANECK VECTORS ETF T FALLEN ANGEL HG 92189F437 5,110 155,000 SH   SOLE 1 155,000 0 0
VANGUARD TOTAL STOCK MARKET E TOTAL STK MKT 922908769 85,712 354,812 SH   SOLE 2 354,812 0 0