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 344 314,000 PRN   DFND   0 314,000 0
180 DEGREE CAP CORP COM 68235B109 2,669 1,534,111 SH   DFND   0 1,534,111 0
AEGON N V NY REGISTRY SH 007924103 77 13,315 SH   DFND   0 13,315 0
ALPINE GLOBAL PREMIER PPTYS COM SBI 02083A103 123 18,507 SH   DFND   0 18,507 0
ANALOG DEVICES INC COM 032654105 227 2,632 SH   DFND   0 2,632 0
ASSOCIATED CAP GROUP INC CL A 045528106 4,127 115,604 SH   DFND   0 115,604 0
B2GOLD CORP COM 11777Q209 99 35,400 SH   DFND   0 35,400 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,338 7,301 SH   DFND   0 7,301 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257R101 432 27,033 SH   DFND   0 27,033 0
BOULDER GROWTH & INCOME FD I COM 101507101 473 46,393 SH   DFND   0 46,393 0
CALAMOS GLOBAL TOTAL RETURN COM SH BEN INT 128118106 162 12,107 SH   DFND   0 12,107 0
CISCO SYS INC COM 17275R102 224 6,650 SH   DFND   0 6,650 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 394 35,280 SH   DFND   0 35,280 0
COLGATE PALMOLIVE CO COM 194162103 889 12,200 SH   DFND   0 12,200 0
CONSOLIDATED EDISON INC COM 209115104 624 7,731 SH   DFND   0 7,731 0
COTT CORP QUE COM 22163N106 5,348 356,323 SH   DFND   0 356,323 0
COVANTA HLDG CORP COM 22282E102 3,867 260,372 SH   DFND   0 260,372 0
DTE ENERGY CO COM 233331107 707 6,588 SH   DFND   0 6,588 0
EATON VANCE MI MUNI INCOME T SH BEN INT 27826D106 1,093 82,810 SH   DFND   0 82,810 0
ERICSSON ADR B SEK 10 294821608 1,642 285,594 SH   DFND   0 285,594 0
EVERSOURCE ENERGY COM 30040W108 1,663 27,509 SH   DFND   0 27,509 0
FASTENAL CO COM 311900104 1,034 22,694 SH   DFND   0 22,694 0
FRANKLIN UNVL TR SH BEN INT 355145103 8,181 1,125,359 SH   DFND   0 1,125,359 0
GABELLI GLB SML & MD CP VAL COM 36249W104 820 61,996 SH   DFND   0 61,996 0
GLOBAL SELF STORAGE INC COM 37955N106 3,443 712,921 SH   DFND   0 712,921 0
GLOBAL WTR RES INC COM 379463102 3,762 399,330 SH   DFND   0 399,330 0
CLAYMORE EXCHANGE TRD FD TR GUGG CRP BD 2017 18383M548 14,143 625,376 SH   DFND   0 625,376 0
HANNON ARMSTRONG SUST INFR C COM 41068X100 2,416 99,143 SH   DFND   0 99,143 0
INTERNATIONAL BUSINESS MACHS COM 459200101 298 2,053 SH   DFND   0 2,053 0
CBRE CLARION GLOBAL REAL EST COM 12504G100 880 111,423 SH   DFND   0 111,423 0
IRIDIUM COMMUNICATIONS INC COM 46269C102 494 47,916 SH   DFND   0 47,916 0
ISHARES TR 1 3 YR TREAS BD 464287457 2,453 29,050 SH   DFND   0 29,050 0
ISHARES TR BARCLAYS 7 10 YR 464287440 3,688 34,620 SH   DFND   0 34,620 0
KENNEDY-WILSON HLDGS INC COM 489398107 9,858 531,414 SH   DFND   0 531,414 0
LEGG MASON BW GLB INC OPP FD COM 52469B100 3,092 230,062 SH   DFND   0 230,062 0
LIFEWAY FOODS INC COM 531914109 139 15,565 SH   DFND   0 15,565 0
MCDONALDS CORP COM 580135101 679 4,336 SH   DFND   0 4,336 0
MEDICAL PPTYS TRUST INC COM 58463J304 8,433 642,294 SH   DFND   0 642,294 0
MFS INTER INCOME TR SH BEN INT 55273C107 1,271 297,035 SH   DFND   0 297,035 0
MORGAN STANLEY ASIA PAC FD I COM 61744U106 251 14,574 SH   DFND   0 14,574 0
MORGAN STANLEY EMER MKTS FD COM 61744G107 307 17,685 SH   DFND   0 17,685 0
NEW SR INVT GROUP INC COM 648691103 6,386 697,923 SH   DFND   0 697,923 0
NEW YORK REIT INC COM 64976L109 7,873 1,002,941 SH   DFND   0 1,002,941 0
NOKIA CORP SPONSORED ADR 654902204 6,891 1,152,402 SH   DFND   0 1,152,402 0
NUVEEN MICHIGAN QLT MUN INC COM 670979103 1,045 76,282 SH   DFND   0 76,282 0
NUVEEN SELECT MAT MUN FD SH BEN INT 67061T101 277 26,825 SH   DFND   0 26,825 0
NUVEEN SELECT TAX FREE INCM SH BEN INT 67062F100 582 39,000 SH   DFND   0 39,000 0
NUVEEN SELECT TAX FREE INCM SH BEN INT 67063C106 674 48,000 SH   DFND   0 48,000 0
NUVEEN SELECT TAX FREE INCM SH BEN INT 67063X100 805 53,000 SH   DFND   0 53,000 0
PIMCO ETF TR 25YR+ ZERO U S 72201R882 4,476 38,413 SH   DFND   0 38,413 0
PROCTER AND GAMBLE CO COM 742718109 840 9,229 SH   DFND   0 9,229 0
RICHMONT MINES INC COM 76547T106 5,666 605,957 SH   DFND   0 605,957 0
ROYAL GOLD INC COM 780287108 1,408 16,363 SH   DFND   0 16,363 0
SANDSTORM GOLD LTD COM NEW 80013R206 7,076 1,558,627 SH   DFND   0 1,558,627 0
SCHWAB STRATEGIC TR INTRM TRM TRES 808524854 30,937 573,756 SH   DFND   0 573,756 0
SCHWAB STRATEGIC TR SHT TM US TRES 808524862 38,831 770,449 SH   DFND   0 770,449 0
SEQUENTIAL BRNDS GROUP INC N COM 81734P107 2,119 708,700 SH   DFND   0 708,700 0
SPARK NETWORKS INC COM 84651P100 1,319 1,081,125 SH   DFND   0 1,081,125 0
SPDR SERIES TRUST BLOOMBERG LNG TR 78464A664 4,086 56,763 SH   DFND   0 56,763 0
SPECIAL OPPORTUNITIES FD INC COM 84741T104 376 23,712 SH   DFND   0 23,712 0
SPECIAL OPPORTUNITIES FD INC PFD CONV SE B 84741T302 538 21,007 SH   DFND   0 21,007 0
SPIRIT RLTY CAP INC NEW COM 84860W102 6,888 803,689 SH   DFND   0 803,689 0
TEMPLETON DRAGON FD INC COM 88018T101 258 12,407 SH   DFND   0 12,407 0
TEMPLETON GLOBAL INCOME FD COM 880198106 2,221 329,489 SH   DFND   0 329,489 0
GDL FUND COM SH BEN IT 361570104 3,709 363,647 SH   DFND   0 363,647 0
U S GLOBAL INVS INC CL A 902952100 4,735 2,222,875 SH   DFND   0 2,222,875 0
UNITEDHEALTH GROUP INC COM 91324P102 297 1,518 SH   DFND   0 1,518 0
ETF SER SOLUTIONS US GBL GLD PRE 26922A719 759 59,928 SH   DFND   0 59,928 0
VEREIT INC COM 92339V100 5,903 712,087 SH   DFND   0 712,087 0
VIRTUS TOTAL RETURN FUND INC COM 92837G100 423 32,416 SH   DFND   0 32,416 0
VITAMIN SHOPPE INC COM 92849E101 774 144,703 SH   DFND   0 144,703 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 5,185 182,189 SH   DFND   0 182,189 0
WESTERN ASSET CLYM INFL OPP COM 95766R104 24,676 2,187,628 SH   DFND   0 2,187,628 0
WESTERN ASSET CLYM INFL SEC COM SH BEN INT 95766Q106 4,685 405,633 SH   DFND   0 405,633 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 387 5,011 SH   DFND   0 5,011 0
DISNEY WALT CO COM DISNEY 254687106 4,279 43,409 SH   DFND   0 43,409 0
WHEATON PRECIOUS METALS CORP COM 962879102 8,000 419,074 SH   DFND   0 419,074 0
ARRAY BIOPHARMA INC COM 04269X105 2,783 226,256 SH   DFND   0 226,256 0
GENERAL MLS INC COM 370334104 377 7,278 SH   DFND   0 7,278 0
GREAT PANTHER SILVER LTD COM 39115V101 1,087 876,971 SH   DFND   0 876,971 0
ISHARES TR 20 YR TR BD ETF 464287432 417 3,345 SH   DFND   0 3,345 0
PEPSICO INC COM 713448108 690 6,194 SH   DFND   0 6,194 0
BRIXMOR PPTY GROUP INC COM 11120U105 3,296 175,342 SH   DFND   0 175,342 0
TRAVELZOO COM NEW 89421Q205 98 11,426 SH   DFND   0 11,426 0
UNITI GROUP INC COM 91325V108 4,784 326,305 SH   DFND   0 326,305 0
INVESCO SR INCOME TR COM 46131H107 1,507 335,600 SH   DFND   0 335,600 0