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 | 329 | 64,175 | SH | | DFND | | 0 | 64,175 | 0 |
ADVANCED MICRO DEVICES INC | COM | 007903107 | 21 | 647,900 | SH | Put | DFND | | 0 | 647,900 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 304 | 52,862 | SH | | DFND | | 0 | 52,862 | 0 |
ADVENT CLAYMORE ENH GRW & IN | COM | 00765E104 | 2,488 | 298,018 | SH | | DFND | | 0 | 298,018 | 0 |
AMERICAN CAP SR FLOATING LTD | COM | 02504D108 | 222 | 20,083 | SH | | DFND | | 0 | 20,083 | 0 |
ANTERO RES CORP | COM | 03674X106 | 2,248 | 83,400 | SH | | DFND | | 0 | 83,400 | 0 |
APOLLO SR FLOATING RATE FD I | COM | 037636107 | 4,050 | 239,227 | SH | | DFND | | 0 | 239,227 | 0 |
APOLLO TACTICAL INCOME FD IN | COM | 037638103 | 714 | 46,200 | SH | | DFND | | 0 | 46,200 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 4,190 | 282,126 | SH | | DFND | | 0 | 282,126 | 0 |
ASSURED GUARANTY LTD | COM | G0585R106 | 9 | 100,000 | SH | Call | DFND | | 0 | 100,000 | 0 |
AVENUE INCOME CR STRATEGIES | COM | 05358E106 | 741 | 57,170 | SH | | DFND | | 0 | 57,170 | 0 |
BARCLAYS BK PLC | IPATH S&P500 VIX | 06740Q252 | 187 | 200,000 | SH | Put | DFND | | 0 | 200,000 | 0 |
BLACKROCK FLOAT RATE OME STR | COM | 09255X100 | 1,556 | 112,237 | SH | | DFND | | 0 | 112,237 | 0 |
BLACKROCK MULTI-SECTOR INC T | COM | 09258A107 | 297 | 17,417 | SH | | DFND | | 0 | 17,417 | 0 |
BLACKSTONE GSO LNG SHRT CR I | COM SHS BN INT | 09257D102 | 3,639 | 234,158 | SH | | DFND | | 0 | 234,158 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 5,085 | 340,846 | SH | | DFND | | 0 | 340,846 | 0 |
BOULDER GROWTH & INCOME FD I | COM | 101507101 | 6,377 | 760,929 | SH | | DFND | | 0 | 760,929 | 0 |
BUCKEYE PARTNERS L P | UNIT LTD PARTN | 118230101 | 4,024 | 56,200 | SH | | DFND | | 0 | 56,200 | 0 |
CALAMOS CONV & HIGH INCOME F | COM SHS | 12811P108 | 316 | 28,669 | SH | | DFND | | 0 | 28,669 | 0 |
CALAMOS GBL DYN INCOME FUND | COM | 12811L107 | 942 | 125,434 | SH | | DFND | | 0 | 125,434 | 0 |
CALAMOS GLOBAL TOTAL RETURN | COM SH BEN INT | 128118106 | 305 | 26,637 | SH | | DFND | | 0 | 26,637 | 0 |
CLEAR CHANNEL OUTDOOR HLDGS | CL A | 18451C109 | 916 | 156,810 | SH | | DFND | | 0 | 156,810 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 849 | 87,800 | SH | | DFND | | 0 | 87,800 | 0 |
COMSTOCK RES INC | COM | 205768302 | 366 | 47,893 | SH | | DFND | | 0 | 47,893 | 0 |
COMSTOCK RES INC | NOTE 7.750% 4/0 | 205768AM6 | 882 | 1,216,000 | PRN | | DFND | | 0 | 1,216,000 | 0 |
COMSTOCK RES INC | NOTE 9.500% 6/1 | 205768AN4 | 2,132 | 2,941,000 | PRN | | DFND | | 0 | 2,941,000 | 0 |
DEUTSCHE BANK AG | NAMEN AKT | D18190898 | 208 | 180,000 | SH | Put | DFND | | 0 | 180,000 | 0 |
DEUTSCHE HIGH INCOME OPPORT | COM | 25158Y102 | 1,161 | 82,062 | SH | | DFND | | 0 | 82,062 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 235 | 12,259 | SH | | DFND | | 0 | 12,259 | 0 |
EATON VANCE FLTG RATE INCOM | COM SHS BEN INT | 278284104 | 627 | 40,099 | SH | | DFND | | 0 | 40,099 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 335 | 24,410 | SH | | DFND | | 0 | 24,410 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 4,750 | 737,554 | SH | | DFND | | 0 | 737,554 | 0 |
ENBRIDGE ENERGY PARTNERS L P | COM | 29250R106 | 4,440 | 174,600 | SH | | DFND | | 0 | 174,600 | 0 |
ENTERPRISE PRODS PARTNERS L | COM | 293792107 | 7,181 | 259,900 | SH | | DFND | | 0 | 259,900 | 0 |
EQT MIDSTREAM PARTNERS LP | UNIT LTD PARTN | 26885B100 | 6,948 | 91,190 | SH | | DFND | | 0 | 91,190 | 0 |
EVERI HLDGS INC | COM | 30034T103 | 727 | 294,313 | SH | | DFND | | 0 | 294,313 | 0 |
FIFTH STR SR FLOATNG RATE CO | COM | 31679F101 | 791 | 92,390 | SH | | DFND | | 0 | 92,390 | 0 |
FIFTH STREET FINANCE CORP | COM | 31678A103 | 238 | 41,000 | SH | | DFND | | 0 | 41,000 | 0 |
FIRST TR STRATEGIC HIGH INC | COM SHS NEW | 337353304 | 553 | 44,853 | SH | | DFND | | 0 | 44,853 | 0 |
GEO GROUP INC NEW | COM | 36162J106 | 39 | 68,000 | SH | Put | DFND | | 0 | 68,000 | 0 |
HALCON RES CORP | *W EXP 09/09/202 | 40537Q118 | 25 | 11,671 | SH | | DFND | | 0 | 11,671 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 7,319 | 622,341 | SH | | DFND | | 0 | 622,341 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 2,191 | 506,083 | SH | | DFND | | 0 | 506,083 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 221 | 8,400 | SH | | DFND | | 0 | 8,400 | 0 |
ISHARES TR | RUSSELL 2000 ETF | 464287655 | 19 | 140,000 | SH | Put | DFND | | 0 | 140,000 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 1,077 | 12,340 | SH | | DFND | | 0 | 12,340 | 0 |
ISHARES TR | MRG RL ES CP ETF | 464288539 | 2,102 | 200,000 | SH | | DFND | | 0 | 200,000 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 1,102 | 212,722 | SH | | DFND | | 0 | 212,722 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 141 | 10,334 | SH | | DFND | | 0 | 10,334 | 0 |
MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 | 7,013 | 99,140 | SH | | DFND | | 0 | 99,140 | 0 |
MPLX LP | COM UNIT REP LTD | 55336V100 | 4,134 | 122,100 | SH | | DFND | | 0 | 122,100 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 2,079 | 365,372 | SH | | DFND | | 0 | 365,372 | 0 |
NORTHSTAR ASSET MGMT GROUP I | COM | 66705Y104 | 711 | 55,000 | SH | | DFND | | 0 | 55,000 | 0 |
NORTHSTAR RLTY FIN CORP | COM | 66704R803 | 659 | 50,000 | SH | | DFND | | 0 | 50,000 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 7,110 | 838,454 | SH | | DFND | | 0 | 838,454 | 0 |
NUVEEN LG/SHT COMMODITY TOTR | COM UT BEN INT | 670731108 | 1,979 | 149,670 | SH | | DFND | | 0 | 149,670 | 0 |
NUVEEN SHT DUR CR OPP FD | COM | 67074X107 | 2,989 | 177,517 | SH | | DFND | | 0 | 177,517 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 4,281 | 654,519 | SH | | DFND | | 0 | 654,519 | 0 |
ONEOK PARTNERS LP | UNIT LTD PARTN | 68268N103 | 3,979 | 99,600 | SH | | DFND | | 0 | 99,600 | 0 |
PIMCO DYNMIC CREDIT AND MRT | COM SHS | 72202D106 | 362 | 17,755 | SH | | DFND | | 0 | 17,755 | 0 |
PIONEER FLOATING RATE TR | COM | 72369J102 | 3,313 | 280,729 | SH | | DFND | | 0 | 280,729 | 0 |
PLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 726503105 | 4,589 | 146,100 | SH | | DFND | | 0 | 146,100 | 0 |
POWERSHARES ETF TRUST II | SENIOR LN PORT | 73936Q769 | 23,210 | 1,000,000 | SH | | DFND | | 0 | 1,000,000 | 0 |
RADIO ONE INC | CL D NON VTG | 75040P405 | 198 | 65,364 | SH | | DFND | | 0 | 65,364 | 0 |
RMR REAL ESTATE INCOME FUND | COM | 76970B101 | 2,643 | 121,533 | SH | | DFND | | 0 | 121,533 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 20,924 | 96,734 | SH | | DFND | | 0 | 96,734 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 62 | 45,000 | SH | Put | DFND | | 0 | 45,000 | 0 |
SPDR SERIES TRUST | S&P OILGAS EXP | 78464A730 | 3 | 10,000 | SH | Put | DFND | | 0 | 10,000 | 0 |
SPDR SERIES TRUST | S&P HOMEBUILD | 78464A888 | 309 | 9,100 | SH | | DFND | | 0 | 9,100 | 0 |
SPECTRA ENERGY PARTNERS LP | COM | 84756N109 | 6,532 | 149,500 | SH | | DFND | | 0 | 149,500 | 0 |
TC PIPELINES LP | UT COM LTD PRT | 87233Q108 | 4,089 | 71,700 | SH | | DFND | | 0 | 71,700 | 0 |
THL CR SR LN FD | COM | 87244R103 | 749 | 45,441 | SH | | DFND | | 0 | 45,441 | 0 |
VIRTUS TOTAL RETURN FD | COM | 92829A103 | 386 | 81,400 | SH | | DFND | | 0 | 81,400 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 1,105 | 209,331 | SH | | DFND | | 0 | 209,331 | 0 |
W & T OFFSHORE INC | COM | 92922P106 | 352 | 199,985 | SH | | DFND | | 0 | 199,985 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 743 | 66,390 | SH | | DFND | | 0 | 66,390 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 663 | 57,935 | SH | | DFND | | 0 | 57,935 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 1,661 | 155,405 | SH | | DFND | | 0 | 155,405 | 0 |
WHITING PETE CORP NEW | COM | 966387102 | 4 | 20,000 | SH | Put | DFND | | 0 | 20,000 | 0 |
ZAIS FINL CORP | COM | 98886K108 | 1,562 | 108,268 | SH | | DFND | | 0 | 108,268 | 0 |