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
ALLIANCEBERNSTEIN INCOME FUN COM 01881E101 46,084 6,128,177 SH   SOLE   6,128,177 0 0
ALLY FINL INC COM 02005N100 7,106 297,177 SH   SOLE   297,177 0 0
BARCLAYS PLC ADR 06738E204 42,208 2,889,000 SH   SOLE   2,889,000 0 0
BLACKROCK BUILD AMER BD TR SHS 09248X100 5,182 238,807 SH   SOLE   238,807 0 0
BLACKROCK ENHANCED EQT DIV T COM 09251A104 8,044 958,746 SH   SOLE   958,746 0 0
BLACKROCK MUN TARGET TERM TR COM SHS BEN IN 09257P105 14,304 704,292 SH   SOLE   704,292 0 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257R101 13,253 745,781 SH   SOLE   745,781 0 0
BOOZ ALLEN HAMILTON HLDG COR CL A 099502106 2,520 118,647 SH   SOLE   118,647 0 0
CAPITAL BK FINL CORP CL A COM 139794101 20,679 875,851 SH   SOLE   875,851 0 0
CAPITAL ONE FINL CORP COM 14040H105 8,260 100,000 SH   SOLE   100,000 0 0
COOPER STD HLDGS INC COM 21676P103 187,717 2,837,326 SH   SOLE   2,837,326 0 0
EATON VANCE FLTING RATE INC COM 278279104 5,701 377,827 SH   SOLE   377,827 0 0
EATON VANCE MUN BD FD COM 27827X101 10,104 812,905 SH   SOLE   812,905 0 0
EATON VANCE SR FLTNG RTE TR COM 27828Q105 1,537 103,344 SH   SOLE   103,344 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 88,958 4,642,882 SH   SOLE   4,642,882 0 0
JPMORGAN CHASE & CO COM 46625H100 16,710 290,000 SH   SOLE   290,000 0 0
NUVEEN AMT-FREE MUN INCOME F COM 670657105 11,033 818,470 SH   SOLE   818,470 0 0
NUVEEN BUILD AMER BD FD COM 67074C103 3,161 154,200 SH   SOLE   154,200 0 0
NUVEEN DIVID ADV MUN FD 3 COM SH BEN INT 67070X101 17,732 1,296,166 SH   SOLE   1,296,166 0 0
NUVEEN MUN ADVANTAGE FD INC COM 67062H106 3,942 293,289 SH   SOLE   293,289 0 0
NUVEEN MUN MKT OPPORTUNITY F COM 67062W103 828 62,000 SH   SOLE   62,000 0 0
NUVEEN PREM INCOME MUN FD COM 67062T100 4,302 316,587 SH   SOLE   316,587 0 0
NUVEEN PREM INCOME MUN FD 2 COM 67063W102 2,548 184,100 SH   SOLE   184,100 0 0
NUVEEN QUALITY INCOME MUN FD COM 670977107 1,332 97,100 SH   SOLE   97,100 0 0
NUVEEN QUALITY MUN FD INC COM 67062N103 13,695 1,044,604 SH   SOLE   1,044,604 0 0
NUVEEN SELECT QUALITY MUN FD COM 670973106 2,951 212,926 SH   SOLE   212,926 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 3,026 257,500 SH   SOLE   257,500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 206,289 1,054,000 SH Call SOLE   1,054,000 0 0
WELLS FARGO & CO NEW PERP PFD CNV A 949746804 6,677 5,500 SH   SOLE   5,500 0 0