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 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 243 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
ALLIANZGI CON INCM 2024 TARG | COM | 01883H102 | 977 | 122,429 | SH | | DFND | 1 2 | 122,429 | 0 | 0 |
ALLIANZGI CONV INCOME FD | COM | 018828103 | 104 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
APOLLO TACTICAL INCOME FD IN | COM | 037638103 | 737 | 53,500 | SH | | DFND | 1 2 | 53,500 | 0 | 0 |
AVAYA HLDGS CORP | COM | 05351X101 | 1,123 | 77,098 | SH | | DFND | 1 2 | 77,098 | 0 | 0 |
BARINGS BDC INC | COM | 06759L103 | 676 | 75,000 | SH | | DFND | 1 2 | 75,000 | 0 | 0 |
BLACKROCK 2022 GBL INCM OPP | COM | 09258P104 | 205 | 24,677 | SH | | DFND | 1 2 | 24,677 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 627 | 52,355 | SH | | DFND | 1 2 | 52,355 | 0 | 0 |
BLACKROCK FLOAT RATE OME STR | COM | 09255X100 | 1,217 | 102,270 | SH | | DFND | 1 2 | 102,270 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 439 | 37,996 | SH | | DFND | 1 2 | 37,996 | 0 | 0 |
BLACKROCK MUN 2030 TAR TERM | COM SHS BEN IN | 09257P105 | 1,436 | 70,000 | SH | | DFND | 1 2 | 70,000 | 0 | 0 |
BLACKROCK MUN INCOME TR | SH BEN INT | 09248F109 | 1,066 | 87,451 | SH | | DFND | 1 2 | 87,451 | 0 | 0 |
BLACKROCK MUNI INCOME INV QL | COM | 09250G102 | 156 | 11,933 | SH | | DFND | 1 2 | 11,933 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 958 | 75,697 | SH | | DFND | 1 2 | 75,697 | 0 | 0 |
BLACKROCK MUNI N Y INTER DUR | COM | 09255F109 | 149 | 12,053 | SH | | DFND | 1 2 | 12,053 | 0 | 0 |
BLACKROCK MUNICIPL INC QLTY | COM | 092479104 | 187 | 14,976 | SH | | DFND | 1 2 | 14,976 | 0 | 0 |
BLACKROCK MUNIENHANCED FD IN | COM | 09253Y100 | 165 | 16,652 | SH | | DFND | 1 2 | 16,652 | 0 | 0 |
BLACKROCK MUNIHLDGS FD II IN | COM | 09253P109 | 778 | 60,001 | SH | | DFND | 1 2 | 60,001 | 0 | 0 |
BLACKROCK MUNIHLDGS NY QLTY | COM | 09255C106 | 191 | 15,914 | SH | | DFND | 1 2 | 15,914 | 0 | 0 |
BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 | 929 | 75,336 | SH | | DFND | 1 2 | 75,336 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 305 | 23,909 | SH | | DFND | 1 2 | 23,909 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 413 | 50,000 | SH | | DFND | 1 2 | 50,000 | 0 | 0 |
BLACKROCK MUNIYIELD CALI QLT | COM | 09254N103 | 1,376 | 108,855 | SH | | DFND | 1 2 | 108,855 | 0 | 0 |
BLACKROCK MUNIYIELD FD INC | COM | 09253W104 | 626 | 50,000 | SH | | DFND | 1 2 | 50,000 | 0 | 0 |
BLACKROCK MUNIYIELD N J FD I | COM | 09254Y109 | 729 | 56,327 | SH | | DFND | 1 2 | 56,327 | 0 | 0 |
BLACKROCK MUNIYIELD NY QLTY | COM | 09255E102 | 1,918 | 166,534 | SH | | DFND | 1 2 | 166,534 | 0 | 0 |
BLACKROCK MUNIYIELD PA QLTY | COM | 09255G107 | 312 | 24,860 | SH | | DFND | 1 2 | 24,860 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 1,716 | 142,404 | SH | | DFND | 1 2 | 142,404 | 0 | 0 |
BLACKROCK N Y MUN INCOME TR | SH BEN INT | 09248L106 | 184 | 15,000 | SH | | DFND | 1 2 | 15,000 | 0 | 0 |
BLACKROCK TAX MUNICPAL BD TR | SHS | 09248X100 | 518 | 24,630 | SH | | DFND | 1 2 | 24,630 | 0 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 244 | 18,100 | SH | | DFND | 1 2 | 18,100 | 0 | 0 |
BROOKFIELD REAL ASSETS INCOM | SHS BEN INT | 112830104 | 1,682 | 88,216 | SH | | DFND | 1 2 | 88,216 | 0 | 0 |
CORNERSTONE STRATEGIC VALUE | COM | 21924B302 | 1,588 | 142,000 | SH | | DFND | 1 2 | 142,000 | 0 | 0 |
CORNERSTONE TOTAL RTRN FD IN | COM | 21924U300 | 1,333 | 120,000 | SH | | DFND | 1 2 | 120,000 | 0 | 0 |
DELAWARE INV MN MUN INC FD I | COM | 24610V103 | 1,383 | 116,646 | SH | | DFND | 1 2 | 116,646 | 0 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 639 | 36,861 | SH | | DFND | 1 2 | 36,861 | 0 | 0 |
DREYFUS STRATEGIC MUNS INC | COM | 261932107 | 273 | 38,041 | SH | | DFND | 1 2 | 38,041 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 215 | 17,364 | SH | | DFND | 1 2 | 17,364 | 0 | 0 |
DWS MUN INCOME TR NEW | COM | 233368109 | 4,455 | 432,524 | SH | | DFND | 1 2 | 432,524 | 0 | 0 |
DWS STRATEGIC MUN INCOME TR | COM | 23342Q101 | 296 | 28,702 | SH | | DFND | 1 2 | 28,702 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 745 | 75,300 | SH | | DFND | 1 2 | 75,300 | 0 | 0 |
EATON VANCE FLTG RATE INCOM | COM SHS BEN INT | 278284104 | 400 | 28,126 | SH | | DFND | 1 2 | 28,126 | 0 | 0 |
EATON VANCE FLTING RATE INC | COM | 278279104 | 625 | 49,394 | SH | | DFND | 1 2 | 49,394 | 0 | 0 |
EATON VANCE FLTNG RATE 2022 | COM | 27831H100 | 640 | 74,795 | SH | | DFND | 1 2 | 74,795 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 1,013 | 85,000 | SH | | DFND | 1 2 | 85,000 | 0 | 0 |
EATON VANCE MA MUNI INCOME T | SH BEN INT | 27826E104 | 370 | 29,970 | SH | | DFND | 1 2 | 29,970 | 0 | 0 |
EATON VANCE MUN INCOME 2028 | SHS | 27829U105 | 401 | 20,984 | SH | | DFND | 1 2 | 20,984 | 0 | 0 |
EATON VANCE NJ MUNI INCOME T | SH BEN INT | 27826V106 | 1,187 | 106,105 | SH | | DFND | 1 2 | 106,105 | 0 | 0 |
EATON VANCE OH MUNI INCOME T | SH BEN INT | 27826G109 | 164 | 13,474 | SH | | DFND | 1 2 | 13,474 | 0 | 0 |
EATON VANCE PA MUNI INCOME T | SH BEN INT | 27826T101 | 831 | 74,733 | SH | | DFND | 1 2 | 74,733 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 689 | 114,853 | SH | | DFND | 1 2 | 114,853 | 0 | 0 |
EATON VANCE TAX ADV BD OPT S | COM SH BEN INT | 27829M103 | 1,993 | 233,947 | SH | | DFND | 1 2 | 233,947 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 598 | 48,728 | SH | | DFND | 1 2 | 48,728 | 0 | 0 |
FIRST TR SR FLG RTE INCM FD | COM | 33733U108 | 324 | 28,964 | SH | | DFND | 1 2 | 28,964 | 0 | 0 |
FIRST TR SR FLOATING RATE 20 | COM SHS | 33740K101 | 567 | 68,595 | SH | | DFND | 1 2 | 68,595 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 229 | 14,226 | SH | | DFND | 1 2 | 14,226 | 0 | 0 |
GOVERNMENT PPTYS INCOME TR | COM SHS BEN INT | 38376A103 | 69 | 10,000 | SH | | DFND | 1 2 | 10,000 | 0 | 0 |
HALCON RES CORP | *W EXP 09/09/202 | 40537Q118 | 1 | 11,671 | SH | | DFND | 1 2 | 11,671 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 911 | 45,000 | SH | | DFND | 1 2 | 45,000 | 0 | 0 |
INVESCO ADVANTAGE MUNICIPAL | SH BEN INT | 46132E103 | 494 | 50,000 | SH | | DFND | 1 2 | 50,000 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 760 | 74,036 | SH | | DFND | 1 2 | 74,036 | 0 | 0 |
INVESCO MUN OPPORTUNITY TR | COM | 46132C107 | 2,113 | 188,979 | SH | | DFND | 1 2 | 188,979 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 299 | 26,800 | SH | | DFND | 1 2 | 26,800 | 0 | 0 |
INVESCO PA VALUE MUN INCOME | COM | 46132K109 | 442 | 38,095 | SH | | DFND | 1 2 | 38,095 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 1,189 | 105,928 | SH | | DFND | 1 2 | 105,928 | 0 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 997 | 255,000 | SH | | DFND | 1 2 | 255,000 | 0 | 0 |
ISHARES INC | MSCI SPAIN ETF | 464286764 | 8 | 100,000 | SH | Put | DFND | 1 2 | 100,000 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 38 | 1,581,500 | SH | Call | DFND | 1 2 | 1,581,500 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 16 | 109,000 | SH | Put | DFND | 1 2 | 109,000 | 0 | 0 |
IVY HIGH INC OPPORTUNITIES F | COM | 465893105 | 839 | 69,137 | SH | | DFND | 1 2 | 69,137 | 0 | 0 |
LIBERTY ALL-STAR GROWTH FD I | COM | 529900102 | 446 | 101,500 | SH | | DFND | 1 2 | 101,500 | 0 | 0 |
NEUBERGER BERMAN HGH YLD FD | COM | 64128C106 | 454 | 46,984 | SH | | DFND | 1 2 | 46,984 | 0 | 0 |
NEUBERGER BRMAN CLIFRN MUNI | COM | 64123C101 | 379 | 31,302 | SH | | DFND | 1 2 | 31,302 | 0 | 0 |
NEUBERGER BRMAN NY MUNI FD I | COM | 64124K102 | 596 | 53,635 | SH | | DFND | 1 2 | 53,635 | 0 | 0 |
NEW RESIDENTIAL INVT CORP | COM NEW | 64828T201 | 284 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 | 1,398 | 100,000 | SH | | DFND | 1 2 | 100,000 | 0 | 0 |
NUVEEN CALIFORNIA AMT QLT MU | COM | 670651108 | 1,287 | 101,536 | SH | | DFND | 1 2 | 101,536 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 1,450 | 195,941 | SH | | DFND | 1 2 | 195,941 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 265 | 28,750 | SH | | DFND | 1 2 | 28,750 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 949 | 105,216 | SH | | DFND | 1 2 | 105,216 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 440 | 40,193 | SH | | DFND | 1 2 | 40,193 | 0 | 0 |
NUVEEN MINESOTA QLT MUN INC | SHS | 670734102 | 282 | 23,174 | SH | | DFND | 1 2 | 23,174 | 0 | 0 |
NUVEEN MUN HIGH INCOME OPP F | COM | 670682103 | 466 | 40,000 | SH | | DFND | 1 2 | 40,000 | 0 | 0 |
NUVEEN MUN INCOME FD INC | COM | 67062J102 | 180 | 17,763 | SH | | DFND | 1 2 | 17,763 | 0 | 0 |
NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | 819 | 61,000 | SH | | DFND | 1 2 | 61,000 | 0 | 0 |
NUVEEN NEW JERSEY QULT MUN F | COM | 67069Y102 | 893 | 70,080 | SH | | DFND | 1 2 | 70,080 | 0 | 0 |
NUVEEN NEW YORK AMT QLT MUNI | COM | 670656107 | 1,307 | 112,165 | SH | | DFND | 1 2 | 112,165 | 0 | 0 |
NUVEEN NORTH CAROLINA QLTY M | COM | 67060P100 | 411 | 34,851 | SH | | DFND | 1 2 | 34,851 | 0 | 0 |
NUVEEN OHIO QLTY MUN INCOME | COM | 670980101 | 705 | 52,974 | SH | | DFND | 1 2 | 52,974 | 0 | 0 |
NUVEEN PENNSYLVANIA QLT MUN | COM | 670972108 | 215 | 17,608 | SH | | DFND | 1 2 | 17,608 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 492 | 39,259 | SH | | DFND | 1 2 | 39,259 | 0 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 917 | 166,668 | SH | | DFND | 1 2 | 166,668 | 0 | 0 |
NUVEEN TEXAS QLTY MUN INCME | COM | 670983105 | 607 | 48,995 | SH | | DFND | 1 2 | 48,995 | 0 | 0 |
OCH ZIFF CAP MGMT GROUP | CL A | 67551U105 | 18 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
PGIM GLOBAL SHORT DURATION H | COM | 69346J106 | 904 | 70,000 | SH | | DFND | 1 2 | 70,000 | 0 | 0 |
PIMCO CORPORATE INCOME STRAT | COM | 72200U100 | 149 | 10,000 | SH | | DFND | 1 2 | 10,000 | 0 | 0 |
PIONEER FLOATING RATE TR | COM | 72369J102 | 218 | 22,189 | SH | | DFND | 1 2 | 22,189 | 0 | 0 |
RIVERNORTH OPPRTUNITIES FD I | COM | 76881Y109 | 215 | 13,231 | SH | | DFND | 1 2 | 13,231 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 16 | 90,000 | SH | Call | DFND | 1 2 | 90,000 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 19 | 10,000 | SH | Put | DFND | 1 2 | 10,000 | 0 | 0 |
TORTOISE MLP FD INC | COM | 89148B101 | 123 | 10,000 | SH | | DFND | 1 2 | 10,000 | 0 | 0 |
UBS AG LONDON BRH | ETRACS MTH 2XLV | 90270L842 | 239 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
URBAN ONE INC | CL D NON VTG | 91705J204 | 508 | 315,596 | SH | | DFND | 1 2 | 315,596 | 0 | 0 |
VANECK VECTORS ETF TR | JP MORGAN MKTS | 92189H300 | 3 | 30,000 | SH | Put | DFND | 1 2 | 30,000 | 0 | 0 |
VIRTUS GLOBAL MULTI-SEC INC | COM | 92829B101 | 722 | 65,127 | SH | | DFND | 1 2 | 65,127 | 0 | 0 |
VOYA INTL HIGH DIVID EQTY IN | COM | 92912Y109 | 88 | 17,038 | SH | | DFND | 1 2 | 17,038 | 0 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 672 | 149,715 | SH | | DFND | 1 2 | 149,715 | 0 | 0 |
VOYA RISK MANAGED NAT RES FD | COM | 92913C106 | 199 | 46,600 | SH | | DFND | 1 2 | 46,600 | 0 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 479 | 53,296 | SH | | DFND | 1 2 | 53,296 | 0 | 0 |
WESTERN ASSET INTM MUNI FD I | COM | 958435109 | 339 | 40,582 | SH | | DFND | 1 2 | 40,582 | 0 | 0 |