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
ADAMS EXPRESS CO COM 006212104 5,128 374,835 SH   DFND 1,2 374,835 0 0
BLACKROCK ENERGY & RES TR COM 09250U101 4,748 237,982 SH   DFND 1,2 237,982 0 0
BLACKROCK HEALTH SCIENCES TR COM 09250W107 817 19,145 SH   DFND 1,2 19,145 0 0
BROOKFIELD GLOBL LISTED INFR COM SHS 11273Q109 276 13,231 SH   DFND 1,2 13,231 0 0
CAMBRIDGE CAP ACQUISITION CO COM 13215Q106 3,960 400,000 SH   DFND 1,2 400,000 0 0
CAPITOL ACQUISITION CORP II COM 14056V105 4,925 500,000 SH   DFND 1,2 500,000 0 0
CENTRAL SECS CORP COM 155123102 982 44,777 SH   DFND 1,2 44,777 0 0
CHINA FD INC COM 169373107 4,223 231,630 SH   DFND 1,2 231,630 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 01/27/2016 203668116 75 3,000,000 SH   DFND 1,2 3,000,000 0 0
DBX ETF TR DBXTR HAR CS 300 233051879 5,582 150,000 SH   DFND 1,2 150,000 0 0
DENISON MINES CORP COM 248356107 746 766,900 SH   DFND 1,2 766,900 0 0
EATON VANCE TX ADV GLB DIV O COM 27828U106 823 33,862 SH   DFND 1,2 33,862 0 0
ELLSWORTH FUND LTD COM 289074106 215 24,655 SH   DFND 1,2 24,655 0 0
ENSERVCO CORP COM 29358Y102 31 19,075 SH   DFND 1,2 19,075 0 0
FIRST TR ENERGY INFRASTRCTR COM 33738C103 3,597 151,247 SH   DFND 1,2 151,247 0 0
FIRSTHAND TECH VALUE FD INC COM 33766Y100 4,737 254,017 SH   DFND 1,2 254,017 0 0
GAMCO GLOBAL GOLD NAT RES & COM SH BEN INT 36465A109 1,788 255,493 SH   DFND 1,2 255,493 0 0
GAMCO NAT RES GOLD & INCOME SH BEN INT 36465E101 402 49,763 SH   DFND 1,2 49,763 0 0
GENERAL AMERN INVS INC COM 368802104 2,114 60,410 SH   DFND 1,2 60,410 0 0
GLOBAL DEFENSE & NATL SEC SY COM 37953N108 4,128 400,000 SH   DFND 1,2 400,000 0 0
HF2 FINL MGMT INC CL A 40421A104 17,697 1,700,000 SH   DFND 1,2 1,700,000 0 0
HYDRA INDS ACQUISITION CORP COM 448740100 1,670 175,000 SH   DFND 1,2 175,000 0 0
INDIA FD INC COM 454089103 7,340 284,402 SH   DFND 1,2 284,402 0 0
ISHARES MSCI STH KOR ETF 464286772 13,946 252,182 SH   DFND 1 252,182 0 0
ISHARES IBOXX HI YD ETF 464288513 627 7,000 SH   DFND 1,2 7,000 0 0
LAKE SHORE GOLD CORP COM 510728108 1,453 2,165,000 SH   DFND 1,2 2,165,000 0 0
LEVY ACQUISITION CORP COM 52748T104 5,352 550,000 SH   DFND 1,2 550,000 0 0
MECHEL OAO SPONSORED ADR 583840103 684 1,000,000 SH   DFND 1,2 1,000,000 0 0
MEDIA GEN INC NEW COM 58441K100 2,912 174,049 SH   DFND 1,2 174,049 0 0
MEXICO EQUITY & INCOME FD COM 592834105 464 37,284 SH   DFND 1,2 37,284 0 0
MEXICO FD INC COM 592835102 393 18,900 SH   DFND 1,2 18,900 0 0
MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 44,717 25,000,000 PRN   DFND 1,2 25,000,000 0 0
MORGAN STANLEY EASTN EUR FD COM 616988101 993 71,977 SH   DFND 1,2 71,977 0 0
MORGAN STANLEY EM MKTS DM DE COM 617477104 1,387 131,365 SH   DFND 1,2 131,365 0 0
NEW GERMANY FD INC COM 644465106 1,709 122,002 SH   DFND 1,2 122,002 0 0
NUVEEN GLOBAL EQUITY INCOME COM 6706EH103 217 16,664 SH   DFND 1,2 16,664 0 0
NUVEEN CORE EQUITY ALPHA FUN COM 67090X107 693 39,667 SH   DFND 1,2 39,667 0 0
OHA INVT CORP COM 67091U102 1,070 228,145 SH   DFND 1,2 228,145 0 0
1347 CAP CORP COM 68245V103 3,290 350,000 SH   DFND 1,2 350,000 0 0
1347 CAP CORP RIGHT 07/21/2016 68245V111 114 326,550 SH   DFND 1,2 326,550 0 0
1347 CAP CORP *W EXP 07/15/202 68245V129 69 326,550 SH   DFND 1,2 326,550 0 0
PETROLEUM & RES CORP COM 716549100 3,287 137,862 SH   DFND 1,2 137,862 0 0
PIMCO HIGH INCOME FD COM SHS 722014107 1,210 107,514 SH   DFND 1,2 107,514 0 0
RAMCO-GERSHENSON PPTYS TR PERP PFD-D CV 751452608 9,036 135,000 SH   DFND 1,2 135,000 0 0
ROYCE VALUE TR INC COM 780910105 4,262 297,445 SH   DFND 1,2 297,445 0 0
ROYCE MICRO-CAP TR INC COM 780915104 3,377 335,005 SH   DFND 1,2 335,005 0 0
SEABRIDGE GOLD INC COM 811916105 7,202 950,000 SH   DFND 1,2 950,000 0 0
SOURCE CAP INC COM 836144105 1,586 21,987 SH   DFND 1,2 21,987 0 0
SPECIAL OPPORTUNITIES FD INC COM 84741T104 381 24,782 SH   DFND 1,2 24,782 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 4,893 500,826 SH   DFND 1,2 500,826 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 4,591 530,708 SH   DFND 1,2 530,708 0 0
STARWOOD PPTY TR INC NOTE 4.000% 1/1 85571BAB1 10,984 10,000,000 PRN   DFND 1,2 10,000,000 0 0
STONE HBR EMERG MRKTS INC FD COM 86164T107 395 25,469 SH   DFND 1,2 25,469 0 0
SWISS HELVETIA FD INC COM 870875101 8,392 753,289 SH   DFND 1,2 753,289 0 0
TAIWAN FD INC COM 874036106 948 57,993 SH   DFND 1,2 57,993 0 0
TEMPLETON DRAGON FD INC COM 88018T101 9,450 393,110 SH   DFND 1,2 393,110 0 0
TEMPLETON EMERGING MKTS FD I COM 880191101 2,247 145,689 SH   DFND 1,2 145,689 0 0
TEMPLETON EMERG MKTS INCOME COM 880192109 565 49,792 SH   DFND 1,2 49,792 0 0
THAI FD INC COM 882904105 3,941 333,947 SH   DFND 1,2 333,947 0 0
TORTOISE ENERGY INDEPENDENC COM 89148K101 424 22,392 SH   DFND 1,2 22,392 0 0
WESTERN ASSET HIGH INCM FD I COM 95766J102 563 67,806 SH   DFND 1,2 67,806 0 0
WESTERN ASSET MTG DEF OPPTY COM 95790B109 303 12,703 SH   DFND 1,2 12,703 0 0
DT ASIA INVTS LTD SHS G2615J104 3,880 400,000 SH   DFND 1,2 400,000 0 0
DT ASIA INVTS LTD RIGHTS 03/30/2016 G2615J112 88 367,900 SH   DFND 1,2 367,900 0 0
DT ASIA INVTS LTD *W EXP 03/29/202 G2615J138 24 188,600 SH   DFND 1,2 188,600 0 0
GARNERO GROUP ACQUISITION CO SHS G5866L108 5,497 575,000 SH   DFND 1,2 575,000 0 0
GARNERO GROUP ACQUISITION CO *W EXP 06/24/201 G5866L116 34 284,000 SH   DFND 1,2 284,000 0 0
GARNERO GROUP ACQUISITION CO RIGHT 06/25/2016 G5866L132 58 192,600 SH   DFND 1,2 192,600 0 0
C B PHARMA ACQUISITION CORP UNIT 99/99/9999 G2029P100 2,691 268,246 SH   DFND 1,2 268,246 0 0