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
ROYAL GOLD INC NOTE 2.875% 6/1 780287AA6 347 359,000 PRN   DFND   0 359,000 0
AEGON N V NY REGISTRY SH 007924103 65 11,888 SH   DFND   0 11,888 0
ALLIANCEBERNSTEIN INCOME FUN COM 01881E101 369 46,985 SH   DFND   0 46,985 0
ALPHABET INC CAP STK CL C 02079K107 3,552 4,768 SH   DFND   0 4,768 0
ALPINE GLOBAL PREMIER PPTYS COM SBI 02083A103 2,575 460,645 SH   DFND   0 460,645 0
APOLLO SR FLOATING RATE FD I COM 037636107 8,567 563,592 SH   DFND   0 563,592 0
B2GOLD CORP COM 11777Q209 2,160 1,301,160 SH   DFND   0 1,301,160 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,037 7,312 SH   DFND   0 7,312 0
BIRNER DENTAL MGMT SERVICES COM NEW 091283200 646 71,750 SH   DFND   0 71,750 0
BLACKROCK FLOAT RATE OME STR COM 09255X100 6,339 485,013 SH   DFND   0 485,013 0
BLACKROCK GLOBAL OPP EQTY TR COM 092501105 197 16,541 SH   DFND   0 16,541 0
BLACKROCK LTD DURATION INC T COM SHS 09249W101 515 34,875 SH   DFND   0 34,875 0
BLACKROCK CR ALLCTN INC TR COM 092508100 1,659 132,496 SH   DFND   0 132,496 0
BOULDER GROWTH & INCOME FD I COM 101507101 414 52,734 SH   DFND   0 52,734 0
COHEN & STEERS INFRASTRUCTUR COM 19248A109 10,675 538,877 SH   DFND   0 538,877 0
CALAMOS STRATEGIC TOTL RETN COM SH BEN INT 128125101 171 17,982 SH   DFND   0 17,982 0
COFFEE HLDGS INC COM 192176105 69 17,775 SH   DFND   0 17,775 0
COHEN & STEERS CLOSED END OP COM 19248P106 16,374 1,503,556 SH   DFND   0 1,503,556 0
COHEN & STEERS REIT & PFD IN COM 19247X100 1,322 69,864 SH   DFND   0 69,864 0
COLGATE PALMOLIVE CO COM 194162103 862 12,202 SH   DFND   0 12,202 0
CONSOLIDATED EDISON INC COM 209115104 639 8,343 SH   DFND   0 8,343 0
COTT CORP QUE COM 22163N106 7,316 526,728 SH   DFND   0 526,728 0
COVANTA HLDG CORP COM 22282E102 3,843 227,920 SH   DFND   0 227,920 0
DTE ENERGY CO COM 233331107 653 7,201 SH   DFND   0 7,201 0
DELAWARE INVT NAT MUNI INC F SH BEN INT 24610T108 488 35,329 SH   DFND   0 35,329 0
DEUTSCHE STRATEGIC INCOME TR SHS 25160F109 271 24,455 SH   DFND   0 24,455 0
DUFF & PHELPS GLB UTL INC FD COM 26433C105 12,492 785,177 SH   DFND   0 785,177 0
EATON VANCE FLTG RATE INCOM COM SHS BEN INT 278284104 6,350 435,534 SH   DFND   0 435,534 0
EATON VANCE MI MUNI INCOME T SH BEN INT 27826D106 1,493 108,410 SH   DFND   0 108,410 0
EATON VANCE SH TM DR DIVR IN COM 27828V104 1,861 139,492 SH   DFND   0 139,492 0
EVERSOURCE ENERGY COM 30040W108 1,742 29,860 SH   DFND   0 29,860 0
FASTENAL CO COM 311900104 1,249 25,488 SH   DFND   0 25,488 0
FASTENAL CO COM 311900104 205 4,186 SH   DFND   0 4,186 0
FRANKLIN LTD DURATION INC TR COM 35472T101 1,122 98,933 SH   DFND   0 98,933 0
FRANKLIN UNVL TR SH BEN INT 355145103 12,119 1,942,218 SH   DFND   0 1,942,218 0
GABELLI GLB SML & MD CP VAL COM 36249W104 684 64,727 SH   DFND   0 64,727 0
GABELLI GLOBL UTIL & INCOME COM SH BEN INT 36242L105 478 26,703 SH   DFND   0 26,703 0
GAIAM INC CL A 36268Q103 10,626 1,660,334 SH   DFND   0 1,660,334 0
GAMCO GLOBAL GOLD NAT RES & COM SH BEN INT 36465A109 6,581 1,166,846 SH   DFND   0 1,166,846 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 10,432 584,415 SH   DFND   0 584,415 0
GRAMERCY PPTY TR COM 385002100 6,057 716,801 SH   DFND   0 716,801 0
HARRIS & HARRIS GROUP INC COM 413833104 2,388 1,447,342 SH   DFND   0 1,447,342 0
CBRE CLARION GLOBAL REAL EST COM 12504G100 1,669 213,640 SH   DFND   0 213,640 0
INTERNATIONAL BUSINESS MACHS COM 459200101 289 1,907 SH   DFND   0 1,907 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 7,476 695,428 SH   DFND   0 695,428 0
LAZARD WORLD DIVID & INCOME COM 521076109 1,536 170,081 SH   DFND   0 170,081 0
LEGG MASON BW GLB INC OPP FD COM 52469B100 3,664 296,658 SH   DFND   0 296,658 0
LEXINGTON REALTY TRUST COM 529043101 4,412 513,030 SH   DFND   0 513,030 0
MADISON CVRED CALL & EQ STR COM 557437100 388 51,931 SH   DFND   0 51,931 0
MEDICAL PPTYS TRUST INC COM 58463J304 9,446 727,699 SH   DFND   0 727,699 0
MFS CHARTER INCOME TR SH BEN INT 552727109 589 72,400 SH   DFND   0 72,400 0
MFS MULTIMARKET INCOME TR SH BEN INT 552737108 9,448 1,620,659 SH   DFND   0 1,620,659 0
MICROSOFT CORP COM 594918104 209 3,790 SH   DFND   0 3,790 0
MORGAN STANLEY ASIA PAC FD I COM 61744U106 231 16,866 SH   DFND   0 16,866 0
MORGAN STANLEY EMER MKTS FD COM 61744G107 231 17,495 SH   DFND   0 17,495 0
BLACKROCK MUNIYLD MICH QLTY COM 09254V105 296 20,348 SH   DFND   0 20,348 0
NEW GOLD INC CDA COM 644535106 6,215 1,666,268 SH   DFND   0 1,666,268 0
NEW SR INVT GROUP INC COM 648691103 4,374 424,697 SH   DFND   0 424,697 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 12,658 1,600,209 SH   DFND   0 1,600,209 0
NUVEEN MICH QUALITY INCOME M COM 670979103 949 66,053 SH   DFND   0 66,053 0
NUVEEN SR INCOME FD COM 67067Y104 594 100,629 SH   DFND   0 100,629 0
PFIZER INC COM 717081103 245 8,280 SH   DFND   0 8,280 0
PIONEER FLOATING RATE TR COM 72369J102 5,478 489,516 SH   DFND   0 489,516 0
PROCTER & GAMBLE CO COM 742718109 756 9,190 SH   DFND   0 9,190 0
PUTNAM MASTER INTER INCOME T SH BEN INT 746909100 46 10,355 SH   DFND   0 10,355 0
ROYAL GOLD INC COM 780287108 5,429 105,845 SH   DFND   0 105,845 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 1,525 206,909 SH   DFND   0 206,909 0
ROYCE MICRO-CAP TR INC COM 780915104 5,267 752,431 SH   DFND   0 752,431 0
ROYCE VALUE TR INC COM 780910105 2,027 173,061 SH   DFND   0 173,061 0
SANDSTORM GOLD LTD COM NEW 80013R206 4,793 1,456,930 SH   DFND   0 1,456,930 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 6,103 341,167 SH   DFND   0 341,167 0
SILVER WHEATON CORP COM 828336107 8,428 508,352 SH   DFND   0 508,352 0
SPARK NETWORKS INC COM 84651P100 766 344,967 SH   DFND   0 344,967 0
SPECIAL OPPORTUNITIES FD INC COM 84741T104 1,860 142,316 SH   DFND   0 142,316 0
SUNOPTA INC COM 8676EP108 1,976 443,150 SH   DFND   0 443,150 0
TEMPLETON DRAGON FD INC COM 88018T101 270 15,777 SH   DFND   0 15,777 0
TEMPLETON GLOBAL INCOME FD COM 880198106 7,529 1,154,800 SH   DFND   0 1,154,800 0
GDL FUND COM SH BEN IT 361570104 2,159 215,274 SH   DFND   0 215,274 0
TIVO INC COM 888706108 2,119 222,870 SH   DFND   0 222,870 0
TRAVELZOO INC COM NEW 89421Q205 574 70,736 SH   DFND   0 70,736 0
U S GLOBAL INVS INC CL A 902952100 4,483 2,591,455 SH   DFND   0 2,591,455 0
UNITEDHEALTH GROUP INC COM 91324P102 222 1,721 SH   DFND   0 1,721 0
INVESCO SR INCOME TR COM 46131H107 6,905 1,709,247 SH   DFND   0 1,709,247 0
VEREIT INC COM 92339V100 5,910 666,239 SH   DFND   0 666,239 0
VIPSHOP HLDGS LTD SPONSORED ADR 92763W103 449 34,884 SH   DFND   0 34,884 0
VIRTUS TOTAL RETURN FD COM 92829A103 997 234,474 SH   DFND   0 234,474 0
VISA INC COM CL A 92826C839 1,682 21,993 SH   DFND   0 21,993 0
VOYA PRIME RATE TR SH BEN INT 92913A100 4,346 862,242 SH   DFND   0 862,242 0
WESTERN ASSET GLOBAL CP DEFI COM 95790C107 4,699 284,938 SH   DFND   0 284,938 0
WESTERN ASSET CLYM INFL OPP COM 95766R104 43,035 3,891,083 SH   DFND   0 3,891,083 0
WESTERN ASSET CLYM INFL SEC COM SH BEN INT 95766Q106 11,615 1,019,745 SH   DFND   0 1,019,745 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 422 5,011 SH   DFND   0 5,011 0
WELLS FARGO GLOBAL DIVIDEND WF GLOBAL OPPTY 94987C103 4,472 749,058 SH   DFND   0 749,058 0
WELLS FARGO MULTI SECTOR INC WF MLT SECTR INC 94987D101 3,970 324,839 SH   DFND   0 324,839 0
WESTERN ASSET WORLDWIDE INCO COM 957668106 706 67,933 SH   DFND   0 67,933 0
ZWEIG FD COM NEW 989834205 234 18,145 SH   DFND   0 18,145 0
ZWEIG TOTAL RETURN FD INC COM NEW 989837208 650 54,195 SH   DFND   0 54,195 0
ABERDEEN ASIA PACIFIC INCOM COM 003009107 107 21,448 SH   DFND   0 21,448 0
CALAMOS DYNAMIC CONV & INCOM COM 12811V105 324 18,779 SH   DFND   0 18,779 0
CALAMOS GBL DYN INCOME FUND COM 12811L107 964 137,096 SH   DFND   0 137,096 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 157 16,385 SH   DFND   0 16,385 0
GLOBAL SELF STORAGE INC COM 37955N106 5,003 1,027,213 SH   DFND   0 1,027,213 0
ISHARES TR 7-10 Y TR BD ETF 464287440 287 2,600 SH   DFND   0 2,600 0
ISHARES TR 1-3 YR TR BD ETF 464287457 281 3,300 SH   DFND   0 3,300 0
SCHWAB STRATEGIC TR INTRM TRM TRES 808524854 356 6,454 SH   DFND   0 6,454 0
LMP CORPORATE LN FD INC COM 50208B100 3,597 368,542 SH   DFND   0 368,542 0