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 117 19,386 SH   DFND 1 19,386 0 0
AGRIUM INC COM 008916108 13,025 155,000 SH   DFND 1 155,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 32,778 674,025 SH   DFND 1 674,025 0 0
ANADARKO PETE CORP COM 032511107 19,993 215,000 SH   DFND 1 215,000 0 0
AVENUE INCOME CR STRATEGIES COM 05358E106 375 22,179 SH   DFND 1 22,179 0 0
BELO CORP COM SER A 080555105 18,050 1,317,500 SH   DFND 1 1,317,500 0 0
BOEING CO COM 097023105 2,179 18,542 SH   DFND 1 18,542 0 0
BP PLC SPONSORED ADR 055622104 34,064 810,461 SH   DFND 1 810,461 0 0
CAMPBELL SOUP CO COM 134429109 236 5,794 SH   DFND 1 5,794 0 0
CAPITAL ONE FINL CORP COM 14040H105 844 12,273 SH   DFND 1 12,273 0 0
CENTRAL GOLDTRUST TR UNIT 153546106 1,170 25,342 SH   DFND 1 25,342 0 0
CHENIERE ENERGY INC COM NEW 16411R208 7,682 225,000 SH   DFND 1 225,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS CL A 18451C109 2,050 250,000 SH   DFND 1 250,000 0 0
COVIDIEN PLC SHS G2554F113 13,712 225,000 SH   DFND 1 225,000 0 0
CVS CAREMARK CORPORATION COM 126650100 1,804 31,780 SH   DFND 1 31,780 0 0
DANAHER CORP DEL COM 235851102 688 9,922 SH   DFND 1 9,922 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,478 62,665 SH   DFND 1 62,665 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 1,650 28,178 SH   DFND 1 28,178 0 0
EATON VANCE TAX MNGD GBL DV COM 27829F108 114 12,155 SH   DFND 1 12,155 0 0
EATON VANCE TXMGD GL BUYWR O COM 27829C105 115 10,109 SH   DFND 1 10,109 0 0
EMERSON ELEC CO COM 291011104 2,082 32,183 SH   DFND 1 32,183 0 0
FLEXTRONICS INTL LTD ORD Y2573F102 169 18,599 SH   DFND 1 18,599 0 0
GENERAL DYNAMICS CORP COM 369550108 1,815 20,742 SH   DFND 1 20,742 0 0
GENERAL ELECTRIC CO COM 369604103 1,251 52,370 SH   DFND 1 52,370 0 0
GENERAL MLS INC COM 370334104 1,025 21,386 SH   DFND 1 21,386 0 0
GLADSTONE CAPITAL CORP COM 376535100 581 66,606 SH   DFND 1 66,606 0 0
HORIZON TECHNOLOGY FIN CORP COM 44045A102 162 12,192 SH   DFND 1 12,192 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,138 6,143 SH   DFND 1 6,143 0 0
ISHARES TIPS BD ETF 464287176 225 2,000 SH   DFND 1 2,000 0 0
ISHARES MSCI ACWI ETF 464288257 7,878 146,098 SH   DFND 1 146,098 0 0
JOHNSON & JOHNSON COM 478160104 1,983 22,869 SH   DFND 1 22,869 0 0
KIRBY CORP COM 497266106 972 11,225 SH   DFND 1 11,225 0 0
LAMAR ADVERTISING CO CL A 512815101 14,579 310,000 SH   DFND 1 310,000 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 11,023 250,000 SH   DFND 1 250,000 0 0
MCG CAPITAL CORP COM 58047P107 311 61,704 SH   DFND 1 61,704 0 0
MCGRAW HILL FINL INC COM 580645109 2,074 31,619 SH   DFND 1 31,619 0 0
MICROSOFT CORP COM 594918104 23,317 700,000 SH   DFND 1 700,000 0 0
MOLSON COORS BREWING CO CL B 60871R209 1,616 32,243 SH   DFND 1 32,243 0 0
NOVAGOLD RES INC COM NEW 66987E206 31 13,185 SH   DFND 1 13,185 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 10,274 550,000 SH   DFND 1 550,000 0 0
ONYX PHARMACEUTICALS INC COM 683399109 37,650 302,000 SH   DFND 1 302,000 0 0
PIMCO ETF TR 1-5 US TIP IDX 72201R205 8,432 158,981 SH   DFND 1 158,981 0 0
PIMCO ETF TR BROAD US TIPS 72201R403 928 16,423 SH   DFND 1 16,423 0 0
PIMCO ETF TR TOTL RETN ETF 72201R775 2,735 25,829 SH   DFND 1 25,829 0 0
PIMCO ETF TR GB ADV INF BD 72201R791 633 12,884 SH   DFND 1 12,884 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 424 37,949 SH   DFND 1 37,949 0 0
RADIO ONE INC CL D NON VTG 75040P405 2,689 999,735 SH   DFND 1 999,735 0 0
SCHWAB CHARLES CORP NEW COM 808513105 1,903 90,035 SH   DFND 1 90,035 0 0
SIEMENS A G SPONSORED ADR 826197501 1,764 14,637 SH   DFND 1 14,637 0 0
SOLAR SR CAP LTD COM 83416M105 1,581 87,447 SH   DFND 1 87,447 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 461 3,600 SH   DFND 1 3,600 0 0
SPDR SERIES TRUST DB INT GVT ETF 78464A490 2,887 48,455 SH   DFND 1 48,455 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 1,293 14,027 SH   DFND 1 14,027 0 0
TIBCO SOFTWARE INC COM 88632Q103 3,839 150,000 SH   DFND 1 150,000 0 0
TICC CAPITAL CORP COM 87244T109 254 26,049 SH   DFND 1 26,049 0 0
TJX COS INC NEW COM 872540109 1,784 31,634 SH   DFND 1 31,634 0 0
TYCO INTERNATIONAL LTD SHS H89128104 14,653 418,900 SH   DFND 1 418,900 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,624 17,775 SH   DFND 1 17,775 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 3,336 58,028 SH   DFND 1 58,028 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 37,643 1,070,000 SH   DFND 1 1,070,000 0 0
WALGREEN CO COM 931422109 1,887 35,081 SH   DFND 1 35,081 0 0
WAL-MART STORES INC COM 931142103 279 3,771 SH   DFND 1 3,771 0 0
WEBMD HEALTH CORP COM 94770V102 1,718 60,159 SH   DFND 1 60,159 0 0