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
ABERDEEN ASIA PACIFIC INCOM COM 003009107 399 79,975 SH   DFND 0 79,975 0
ABERDEEN CHILE FD INC COM 00301W105 70 10,000 SH   DFND 0 10,000 0
ADVANCED MICRO DEVICES INC COM 007903107 6 286,400 SH Put DFND 0 286,400 0
AMTRUST FINL SVCS INC COM 032359309 10 20,000 SH Put DFND 0 20,000 0
ANTERO RES CORP COM 03674X106 1,902 83,400 SH   DFND 0 83,400 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 231 14,400 SH   DFND 0 14,400 0
BARCLAYS BK PLC IPATH S&P500 VIX 06740Q252 202 225,000 SH Put DFND 0 225,000 0
BLACKROCK ENH CAP & INC FD I COM 09256A109 716 50,000 SH   DFND 0 50,000 0
BLACKROCK INTL GRWTH & INC T COM BENE INTER 092524107 1,361 235,100 SH   DFND 0 235,100 0
BLACKROCK MULTI-SECTOR INC T COM 09258A107 373 21,577 SH   DFND 0 21,577 0
BLACKROCK MUNI N Y INTER DUR COM 09255F109 354 25,714 SH   DFND 0 25,714 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257R101 760 48,000 SH   DFND 0 48,000 0
BOFI HLDG INC COM 05566U108 21 10,000 SH Put DFND 0 10,000 0
BOULDER GROWTH & INCOME FD I COM 101507101 1,141 122,692 SH   DFND 0 122,692 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 8,495 123,900 SH   DFND 0 123,900 0
CALAMOS CONV & HIGH INCOME F COM SHS 12811P108 353 30,975 SH   DFND 0 30,975 0
CLEAR CHANNEL OUTDOOR HLDGS CL A 18451C109 1,516 250,630 SH   DFND 0 250,630 0
DEUTSCHE HIGH INCOME OPPORT COM 25158Y102 975 66,577 SH   DFND 0 66,577 0
DOMINION MIDSTREAM PARTNERS COM UT REP LTD 257454108 610 19,100 SH   DFND 0 19,100 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 811 40,422 SH   DFND 0 40,422 0
DREYFUS MUN INCOME INC COM 26201R102 529 59,264 SH   DFND 0 59,264 0
EATON VANCE CA MUNI INCOME T SH BEN INT 27826F101 551 44,935 SH   DFND 0 44,935 0
EATON VANCE CALIF MUN BD FD COM 27828C106 572 49,656 SH   DFND 0 49,656 0
EATON VANCE ENHANCED EQ INC COM 278274105 349 26,605 SH   DFND 0 26,605 0
EATON VANCE LTD DUR INCOME F COM 27828H105 338 24,410 SH   DFND 0 24,410 0
EATON VANCE NY MUNI INCOME T SH BEN INT 27826W104 395 30,806 SH   DFND 0 30,806 0
ENBRIDGE ENERGY PARTNERS L P COM 29250R106 7,598 399,900 SH   DFND 0 399,900 0
ENERGY XXI GULF COAST INC COM 29276K101 926 30,892 SH   DFND 0 30,892 0
ENTERPRISE PRODS PARTNERS L COM 293792107 12,601 456,400 SH   DFND 0 456,400 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 12,442 161,790 SH   DFND 0 161,790 0
EROS INTL PLC SHS NEW G3788M114 1 10,400 SH Put DFND 0 10,400 0
EVERI HLDGS INC COM 30034T103 1,330 277,728 SH   DFND 0 277,728 0
HALCON RES CORP *W EXP 09/09/202 40537Q118 21 11,671 SH   DFND 0 11,671 0
INVESCO CALIF VALUE MUN INC COM 46132H106 1,333 108,160 SH   DFND 0 108,160 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 727 59,459 SH   DFND 0 59,459 0
INVESCO PA VALUE MUN INCOME COM 46132K109 1,436 118,012 SH   DFND 0 118,012 0
INVESCO TR INVT GRADE NY MUN COM 46131T101 359 26,616 SH   DFND 0 26,616 0
ISHARES TR IBOXX INV CP ETF 464287242 23,582 200,000 SH   DFND 0 200,000 0
ISHARES TR 7-10YR TR BD ETF 464287440 6,177 58,500 SH   DFND 0 58,500 0
ISHARES TR RUSSELL 2000 ETF 464287655 1,375 10,000 SH   DFND 0 10,000 0
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 360 66,000 SH   DFND 0 66,000 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 13,309 173,040 SH   DFND 0 173,040 0
MPLX LP COM UNIT REP LTD 55336V100 10,214 283,100 SH   DFND 0 283,100 0
NEUBERGER BERMAN NY INT MUN COM 64124K102 1,068 85,216 SH   DFND 0 85,216 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 839 96,572 SH   DFND 0 96,572 0
NUVEEN ENHANCED MUN VALUE FD COM 67074M101 637 45,398 SH   DFND 0 45,398 0
NUVEEN OHIO QLTY MUN INCOME COM 670980101 855 57,825 SH   DFND 0 57,825 0
NUVEEN SELECT MAT MUN FD SH BEN INT 67061T101 102 10,239 SH   DFND 0 10,239 0
OASIS PETE INC NEW COM 674215108 10 100,000 SH Put DFND 0 100,000 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 8,682 160,800 SH   DFND 0 160,800 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 811 15,800 SH   DFND 0 15,800 0
PIMCO DYNMIC CREDIT AND MRT COM SHS 72202D106 467 21,760 SH   DFND 0 21,760 0
PIONEER MUN HIGH INCOME TR COM SHS 723763108 431 37,074 SH   DFND 0 37,074 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 9,227 291,900 SH   DFND 0 291,900 0
RADIO ONE INC CL A 75040P108 45 13,930 SH   DFND 0 13,930 0
RADIO ONE INC CL D NON VTG 75040P405 699 211,748 SH   DFND 0 211,748 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,992 28,500 SH   DFND 0 28,500 0
SHELL MIDSTREAM PARTNERS L P UNIT LTD INT 822634101 806 25,000 SH   DFND 0 25,000 0
SIGNET JEWELERS LIMITED SHS G81276100 1 10,000 SH Put DFND 0 10,000 0
SOURCE CAP INC COM 836144105 1,502 40,000 SH   DFND 0 40,000 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 45 80,000 SH Put DFND 0 80,000 0
SPECTRA ENERGY PARTNERS LP COM 84756N109 11,797 270,200 SH   DFND 0 270,200 0
SWISS HELVETIA FD INC COM 870875101 354 30,532 SH   DFND 0 30,532 0
TC PIPELINES LP UT COM LTD PRT 87233Q108 9,235 154,800 SH   DFND 0 154,800 0
TECK RESOURCES LTD CL B 878742204 0 20,000 SH Put DFND 0 20,000 0
UNDER ARMOUR INC CL A 904311107 1 20,000 SH Call DFND 0 20,000 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 1,035 93,800 SH   DFND 0 93,800 0
VOYA GLBL ADV & PREM OPP FD COM 92912R104 860 82,050 SH   DFND 0 82,050 0
WELLS FARGO MULTI SECTOR INC COM 94987D101 333 25,000 SH   DFND 0 25,000 0
WESTERN ASSET CLYM INFL OPP COM 95766R104 393 35,187 SH   DFND 0 35,187 0
WILLIAMS PARTNERS L P NEW COM UNIT LTD PAR 96949L105 1,217 29,800 SH   DFND 0 29,800 0