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 |
ALPS ETF TR | ALERIAN MLP | 00162Q866 | 7 | 298,700 | SH | Call | DFND | 1 2 | 298,700 | 0 | 0 |
AVAYA HLDGS CORP | COM | 05351X101 | 1,692 | 209,131 | SH | | DFND | 1 2 | 209,131 | 0 | 0 |
AVAYA HLDGS CORP | COM | 05351X101 | 305 | 37,658 | SH | | DFND | 1 2 | 37,658 | 0 | 0 |
AVAYA HLDGS CORP | NOTE 2.250% 6/1 | 05351XAB7 | 707 | 884,000 | PRN | | DFND | 1 2 | 884,000 | 0 | 0 |
AVAYA HLDGS CORP | NOTE 2.250% 6/1 | 05351XAB7 | 125 | 156,000 | PRN | | DFND | 1 2 | 156,000 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 410 | 41,795 | SH | | DFND | 1 2 | 41,795 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 09255X100 | 697 | 69,652 | SH | | DFND | 1 2 | 69,652 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 09255X100 | 126 | 12,607 | SH | | DFND | 1 2 | 12,607 | 0 | 0 |
BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 | 179 | 13,399 | SH | | DFND | 1 2 | 13,399 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 2,302 | 175,959 | SH | | DFND | 1 2 | 175,959 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 254 | 19,405 | SH | | DFND | 1 2 | 19,405 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 768 | 58,698 | SH | | DFND | 1 2 | 58,698 | 0 | 0 |
BLACKROCK MUNIHOLDINGS QUALI | COM | 09254C107 | 428 | 35,675 | SH | | DFND | 1 2 | 35,675 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 530 | 65,422 | SH | | DFND | 1 2 | 65,422 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 182 | 22,473 | SH | | DFND | 1 2 | 22,473 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 194 | 23,940 | SH | | DFND | 1 2 | 23,940 | 0 | 0 |
BLACKROCK MUNIYIELD FD INC | COM | 09253W104 | 204 | 16,040 | SH | | DFND | 1 2 | 16,040 | 0 | 0 |
BLACKROCK MUNIYIELD FD INC | COM | 09253W104 | 267 | 21,008 | SH | | DFND | 1 2 | 21,008 | 0 | 0 |
BLACKROCK MUNIYIELD INVT FD | COM | 09254R104 | 138 | 10,399 | SH | | DFND | 1 2 | 10,399 | 0 | 0 |
BLACKROCK MUNIYIELD PA QLTY | COM | 09255G107 | 311 | 23,160 | SH | | DFND | 1 2 | 23,160 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 632 | 49,447 | SH | | DFND | 1 2 | 49,447 | 0 | 0 |
BNY MELLON MUN BD INFRASTRUC | COM SHS | 09662W109 | 136 | 10,961 | SH | | DFND | 1 2 | 10,961 | 0 | 0 |
BNY MELLON STRATEGIC MUN BD | COM | 09662E109 | 105 | 14,595 | SH | | DFND | 1 2 | 14,595 | 0 | 0 |
BNY MELLON STRATEGIC MUN BD | COM | 09662E109 | 959 | 133,734 | SH | | DFND | 1 2 | 133,734 | 0 | 0 |
CIT GROUP INC | COM NEW | 125581801 | 60 | 21,200 | SH | Call | DFND | 1 2 | 21,200 | 0 | 0 |
DELAWARE INVTS MINN MUN INCO | COM | 24610V103 | 493 | 39,854 | SH | | DFND | 1 2 | 39,854 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 148 | 13,735 | SH | | DFND | 1 2 | 13,735 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 1,028 | 95,357 | SH | | DFND | 1 2 | 95,357 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 1,448 | 134,359 | SH | | DFND | 1 2 | 134,359 | 0 | 0 |
EATON VANCE FLTING RATE INC | COM | 278279104 | 489 | 47,741 | SH | | DFND | 1 2 | 47,741 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 312 | 25,000 | SH | | DFND | 1 2 | 25,000 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 466 | 101,004 | SH | | DFND | 1 2 | 101,004 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 81 | 17,677 | SH | | DFND | 1 2 | 17,677 | 0 | 0 |
GARRISON CAP INC | COM | 366554103 | 176 | 103,735 | SH | | DFND | 1 2 | 103,735 | 0 | 0 |
GDL FD | COM SH BEN IT | 361570104 | 1,703 | 217,277 | SH | | DFND | 1 2 | 217,277 | 0 | 0 |
GOLDMAN SACHS GROUP INC | COM | 38141G104 | 11 | 21,200 | SH | Put | DFND | 1 2 | 21,200 | 0 | 0 |
HIGHLAND INCOME FD | HIGHLAND INCOME | 43010E404 | 341 | 40,000 | SH | | DFND | 1 2 | 40,000 | 0 | 0 |
INVESCO CALIF VALUE MUN INCO | COM | 46132H106 | 906 | 80,000 | SH | | DFND | 1 2 | 80,000 | 0 | 0 |
INVESCO CALIF VALUE MUN INCO | COM | 46132H106 | 206 | 18,173 | SH | | DFND | 1 2 | 18,173 | 0 | 0 |
INVESCO DYNAMIC CR OPPORTUNI | COM | 46132R104 | 451 | 56,487 | SH | | DFND | 1 2 | 56,487 | 0 | 0 |
INVESCO DYNAMIC CR OPPORTUNI | COM | 46132R104 | 82 | 10,224 | SH | | DFND | 1 2 | 10,224 | 0 | 0 |
INVESCO MUN OPPORTUNITY TR | COM | 46132C107 | 321 | 28,003 | SH | | DFND | 1 2 | 28,003 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 534 | 45,678 | SH | | DFND | 1 2 | 45,678 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 335 | 28,625 | SH | | DFND | 1 2 | 28,625 | 0 | 0 |
INVESCO VALUE MUN INCOME TR | COM | 46132P108 | 495 | 35,000 | SH | | DFND | 1 2 | 35,000 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 4 | 30,700 | SH | Call | DFND | 1 2 | 30,700 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 18 | 84,700 | SH | Call | DFND | 1 2 | 84,700 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 3 | 15,300 | SH | Call | DFND | 1 2 | 15,300 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 22 | 169,300 | SH | Call | DFND | 1 2 | 169,300 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 10 | 50,800 | SH | Call | DFND | 1 2 | 50,800 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 70 | 10,900 | SH | | DFND | 1 2 | 10,900 | 0 | 0 |
MORGAN STANLEY | COM NEW | 617446448 | 80 | 17,000 | SH | Call | DFND | 1 2 | 8,500 | 0 | 0 |
NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 | 954 | 65,000 | SH | | DFND | 1 2 | 65,000 | 0 | 0 |
NUVEEN ARIZONA QLTY MUN INC | COM | 67061W104 | 182 | 14,699 | SH | | DFND | 1 2 | 14,699 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 117 | 15,527 | SH | | DFND | 1 2 | 15,527 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 648 | 85,779 | SH | | DFND | 1 2 | 85,779 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 608 | 81,873 | SH | | DFND | 1 2 | 81,873 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 110 | 14,819 | SH | | DFND | 1 2 | 14,819 | 0 | 0 |
NUVEEN MUN VALUE FD INC | COM | 670928100 | 866 | 88,700 | SH | | DFND | 1 2 | 88,700 | 0 | 0 |
NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | 210 | 14,938 | SH | | DFND | 1 2 | 14,938 | 0 | 0 |
NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | 239 | 17,000 | SH | | DFND | 1 2 | 17,000 | 0 | 0 |
NUVEEN SHT DUR CR OPP FD | COM | 67074X107 | 276 | 25,402 | SH | | DFND | 1 2 | 25,402 | 0 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 67 | 15,262 | SH | | DFND | 1 2 | 15,262 | 0 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 385 | 87,205 | SH | | DFND | 1 2 | 87,205 | 0 | 0 |
NUVEEN TAXABLE MUNICIPAL INC | COM | 67074C103 | 383 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
PIONEER MUN HIGH INCOME ADVA | COM | 723762100 | 713 | 70,000 | SH | | DFND | 1 2 | 70,000 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 5 | 42,300 | SH | Call | DFND | 1 2 | 42,300 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 2 | 25,400 | SH | Call | DFND | 1 2 | 25,400 | 0 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 206 | 28,966 | SH | | DFND | 1 2 | 28,966 | 0 | 0 |
WESTERN ASSET MANAGED MUNS F | COM | 95766M105 | 770 | 64,396 | SH | | DFND | 1 2 | 64,396 | 0 | 0 |
WESTERN AST INFL LKD OPP & I | COM | 95766R104 | 669 | 70,000 | SH | | DFND | 1 2 | 70,000 | 0 | 0 |