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 | 399 | 79,975 | SH | | DFND | | 0 | 79,975 | 0 |
ABERDEEN CHILE FD INC | COM | 00301W105 | 70 | 10,000 | SH | | DFND | | 0 | 10,000 | 0 |
ADVANCED MICRO DEVICES INC | COM | 007903107 | 6 | 286,400 | SH | Put | DFND | | 0 | 286,400 | 0 |
AMTRUST FINL SVCS INC | COM | 032359309 | 10 | 20,000 | SH | Put | DFND | | 0 | 20,000 | 0 |
ANTERO RES CORP | COM | 03674X106 | 1,902 | 83,400 | SH | | DFND | | 0 | 83,400 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 231 | 14,400 | SH | | DFND | | 0 | 14,400 | 0 |
BARCLAYS BK PLC | IPATH S&P500 VIX | 06740Q252 | 202 | 225,000 | SH | Put | DFND | | 0 | 225,000 | 0 |
BLACKROCK ENH CAP & INC FD I | COM | 09256A109 | 716 | 50,000 | SH | | DFND | | 0 | 50,000 | 0 |
BLACKROCK INTL GRWTH & INC T | COM BENE INTER | 092524107 | 1,361 | 235,100 | SH | | DFND | | 0 | 235,100 | 0 |
BLACKROCK MULTI-SECTOR INC T | COM | 09258A107 | 373 | 21,577 | SH | | DFND | | 0 | 21,577 | 0 |
BLACKROCK MUNI N Y INTER DUR | COM | 09255F109 | 354 | 25,714 | SH | | DFND | | 0 | 25,714 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 760 | 48,000 | SH | | DFND | | 0 | 48,000 | 0 |
BOFI HLDG INC | COM | 05566U108 | 21 | 10,000 | SH | Put | DFND | | 0 | 10,000 | 0 |
BOULDER GROWTH & INCOME FD I | COM | 101507101 | 1,141 | 122,692 | SH | | DFND | | 0 | 122,692 | 0 |
BUCKEYE PARTNERS L P | UNIT LTD PARTN | 118230101 | 8,495 | 123,900 | SH | | DFND | | 0 | 123,900 | 0 |
CALAMOS CONV & HIGH INCOME F | COM SHS | 12811P108 | 353 | 30,975 | SH | | DFND | | 0 | 30,975 | 0 |
CLEAR CHANNEL OUTDOOR HLDGS | CL A | 18451C109 | 1,516 | 250,630 | SH | | DFND | | 0 | 250,630 | 0 |
DEUTSCHE HIGH INCOME OPPORT | COM | 25158Y102 | 975 | 66,577 | SH | | DFND | | 0 | 66,577 | 0 |
DOMINION MIDSTREAM PARTNERS | COM UT REP LTD | 257454108 | 610 | 19,100 | SH | | DFND | | 0 | 19,100 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 811 | 40,422 | SH | | DFND | | 0 | 40,422 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 529 | 59,264 | SH | | DFND | | 0 | 59,264 | 0 |
EATON VANCE CA MUNI INCOME T | SH BEN INT | 27826F101 | 551 | 44,935 | SH | | DFND | | 0 | 44,935 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828C106 | 572 | 49,656 | SH | | DFND | | 0 | 49,656 | 0 |
EATON VANCE ENHANCED EQ INC | COM | 278274105 | 349 | 26,605 | SH | | DFND | | 0 | 26,605 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 338 | 24,410 | SH | | DFND | | 0 | 24,410 | 0 |
EATON VANCE NY MUNI INCOME T | SH BEN INT | 27826W104 | 395 | 30,806 | SH | | DFND | | 0 | 30,806 | 0 |
ENBRIDGE ENERGY PARTNERS L P | COM | 29250R106 | 7,598 | 399,900 | SH | | DFND | | 0 | 399,900 | 0 |
ENERGY XXI GULF COAST INC | COM | 29276K101 | 926 | 30,892 | SH | | DFND | | 0 | 30,892 | 0 |
ENTERPRISE PRODS PARTNERS L | COM | 293792107 | 12,601 | 456,400 | SH | | DFND | | 0 | 456,400 | 0 |
EQT MIDSTREAM PARTNERS LP | UNIT LTD PARTN | 26885B100 | 12,442 | 161,790 | SH | | DFND | | 0 | 161,790 | 0 |
EROS INTL PLC | SHS NEW | G3788M114 | 1 | 10,400 | SH | Put | DFND | | 0 | 10,400 | 0 |
EVERI HLDGS INC | COM | 30034T103 | 1,330 | 277,728 | SH | | DFND | | 0 | 277,728 | 0 |
HALCON RES CORP | *W EXP 09/09/202 | 40537Q118 | 21 | 11,671 | SH | | DFND | | 0 | 11,671 | 0 |
INVESCO CALIF VALUE MUN INC | COM | 46132H106 | 1,333 | 108,160 | SH | | DFND | | 0 | 108,160 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 727 | 59,459 | SH | | DFND | | 0 | 59,459 | 0 |
INVESCO PA VALUE MUN INCOME | COM | 46132K109 | 1,436 | 118,012 | SH | | DFND | | 0 | 118,012 | 0 |
INVESCO TR INVT GRADE NY MUN | COM | 46131T101 | 359 | 26,616 | SH | | DFND | | 0 | 26,616 | 0 |
ISHARES TR | IBOXX INV CP ETF | 464287242 | 23,582 | 200,000 | SH | | DFND | | 0 | 200,000 | 0 |
ISHARES TR | 7-10YR TR BD ETF | 464287440 | 6,177 | 58,500 | SH | | DFND | | 0 | 58,500 | 0 |
ISHARES TR | RUSSELL 2000 ETF | 464287655 | 1,375 | 10,000 | SH | | DFND | | 0 | 10,000 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 360 | 66,000 | SH | | DFND | | 0 | 66,000 | 0 |
MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 | 13,309 | 173,040 | SH | | DFND | | 0 | 173,040 | 0 |
MPLX LP | COM UNIT REP LTD | 55336V100 | 10,214 | 283,100 | SH | | DFND | | 0 | 283,100 | 0 |
NEUBERGER BERMAN NY INT MUN | COM | 64124K102 | 1,068 | 85,216 | SH | | DFND | | 0 | 85,216 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 839 | 96,572 | SH | | DFND | | 0 | 96,572 | 0 |
NUVEEN ENHANCED MUN VALUE FD | COM | 67074M101 | 637 | 45,398 | SH | | DFND | | 0 | 45,398 | 0 |
NUVEEN OHIO QLTY MUN INCOME | COM | 670980101 | 855 | 57,825 | SH | | DFND | | 0 | 57,825 | 0 |
NUVEEN SELECT MAT MUN FD | SH BEN INT | 67061T101 | 102 | 10,239 | SH | | DFND | | 0 | 10,239 | 0 |
OASIS PETE INC NEW | COM | 674215108 | 10 | 100,000 | SH | Put | DFND | | 0 | 100,000 | 0 |
ONEOK PARTNERS LP | UNIT LTD PARTN | 68268N103 | 8,682 | 160,800 | SH | | DFND | | 0 | 160,800 | 0 |
PHILLIPS 66 PARTNERS LP | COM UNIT REP INT | 718549207 | 811 | 15,800 | SH | | DFND | | 0 | 15,800 | 0 |
PIMCO DYNMIC CREDIT AND MRT | COM SHS | 72202D106 | 467 | 21,760 | SH | | DFND | | 0 | 21,760 | 0 |
PIONEER MUN HIGH INCOME TR | COM SHS | 723763108 | 431 | 37,074 | SH | | DFND | | 0 | 37,074 | 0 |
PLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 726503105 | 9,227 | 291,900 | SH | | DFND | | 0 | 291,900 | 0 |
RADIO ONE INC | CL A | 75040P108 | 45 | 13,930 | SH | | DFND | | 0 | 13,930 | 0 |
RADIO ONE INC | CL D NON VTG | 75040P405 | 699 | 211,748 | SH | | DFND | | 0 | 211,748 | 0 |
SELECT SECTOR SPDR TR | SBI INT-ENERGY | 81369Y506 | 1,992 | 28,500 | SH | | DFND | | 0 | 28,500 | 0 |
SHELL MIDSTREAM PARTNERS L P | UNIT LTD INT | 822634101 | 806 | 25,000 | SH | | DFND | | 0 | 25,000 | 0 |
SIGNET JEWELERS LIMITED | SHS | G81276100 | 1 | 10,000 | SH | Put | DFND | | 0 | 10,000 | 0 |
SOURCE CAP INC | COM | 836144105 | 1,502 | 40,000 | SH | | DFND | | 0 | 40,000 | 0 |
SPDR SERIES TRUST | S&P OILGAS EXP | 78464A730 | 45 | 80,000 | SH | Put | DFND | | 0 | 80,000 | 0 |
SPECTRA ENERGY PARTNERS LP | COM | 84756N109 | 11,797 | 270,200 | SH | | DFND | | 0 | 270,200 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 354 | 30,532 | SH | | DFND | | 0 | 30,532 | 0 |
TC PIPELINES LP | UT COM LTD PRT | 87233Q108 | 9,235 | 154,800 | SH | | DFND | | 0 | 154,800 | 0 |
TECK RESOURCES LTD | CL B | 878742204 | 0 | 20,000 | SH | Put | DFND | | 0 | 20,000 | 0 |
UNDER ARMOUR INC | CL A | 904311107 | 1 | 20,000 | SH | Call | DFND | | 0 | 20,000 | 0 |
VALEANT PHARMACEUTICALS INTL | COM | 91911K102 | 1,035 | 93,800 | SH | | DFND | | 0 | 93,800 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 860 | 82,050 | SH | | DFND | | 0 | 82,050 | 0 |
WELLS FARGO MULTI SECTOR INC | COM | 94987D101 | 333 | 25,000 | SH | | DFND | | 0 | 25,000 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 393 | 35,187 | SH | | DFND | | 0 | 35,187 | 0 |
WILLIAMS PARTNERS L P NEW | COM UNIT LTD PAR | 96949L105 | 1,217 | 29,800 | SH | | DFND | | 0 | 29,800 | 0 |