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 |
ADAM NAT RES FD INC | COM | 00548F105 | 922 | 56,000 | SH | | DFND | 1 2 | 56,000 | 0 | 0 |
ALLIANZGI CONV INCOME FD | COM | 018828103 | 115 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
ALLIANZGI CONV INCOME FD II | COM | 018825109 | 102 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
ALPS ETF TR | ALERIAN MLP | 00162Q866 | 553 | 65,000 | SH | | DFND | 1 2 | 65,000 | 0 | 0 |
ALPS ETF TR | ALERIAN MLP | 00162Q866 | 13 | 20,000 | SH | Call | DFND | 1 2 | 20,000 | 0 | 0 |
ALPS ETF TR | ALERIAN MLP | 00162Q866 | 53 | 106,500 | SH | Call | DFND | 1 2 | 106,500 | 0 | 0 |
ALPS ETF TR | ALERIAN MLP | 00162Q866 | 37 | 298,700 | SH | Call | DFND | 1 2 | 298,700 | 0 | 0 |
ALPS ETF TR | ALERIAN MLP | 00162Q866 | 250 | 500,000 | SH | Call | DFND | 1 2 | 500,000 | 0 | 0 |
APOLLO SR FLOATING RATE FD I | COM | 037636107 | 599 | 39,546 | SH | | DFND | 1 2 | 39,546 | 0 | 0 |
AVAYA HLDGS CORP | COM | 05351X101 | 202 | 14,983 | SH | | DFND | 1 2 | 14,983 | 0 | 0 |
AVAYA HLDGS CORP | COM | 05351X101 | 1,148 | 85,047 | SH | | DFND | 1 2 | 85,047 | 0 | 0 |
AVAYA HLDGS CORP | NOTE 2.250% 6/1 | 05351XAB7 | 6,823 | 7,687,000 | PRN | | DFND | 1 2 | 7,687,000 | 0 | 0 |
AVAYA HLDGS CORP | NOTE 2.250% 6/1 | 05351XAB7 | 1,201 | 1,353,000 | PRN | | DFND | 1 2 | 1,353,000 | 0 | 0 |
BARINGS BDC INC | COM | 06759L103 | 190 | 18,521 | SH | | DFND | 1 2 | 18,521 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 614 | 45,255 | SH | | DFND | 1 2 | 45,255 | 0 | 0 |
BLACKROCK FLOAT RATE OME STR | COM | 09255X100 | 1,861 | 138,498 | SH | | DFND | 1 2 | 138,498 | 0 | 0 |
BLACKROCK FLOAT RATE OME STR | COM | 09255X100 | 712 | 52,986 | SH | | DFND | 1 2 | 52,986 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 508 | 39,455 | SH | | DFND | 1 2 | 39,455 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 1,387 | 107,768 | SH | | DFND | 1 2 | 107,768 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 248 | 17,392 | SH | | DFND | 1 2 | 17,392 | 0 | 0 |
BLACKROCK MUNIHLDGS NY QLTY | COM | 09255C106 | 190 | 13,914 | SH | | DFND | 1 2 | 13,914 | 0 | 0 |
BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 | 187 | 13,399 | SH | | DFND | 1 2 | 13,399 | 0 | 0 |
BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 | 1,444 | 103,249 | SH | | DFND | 1 2 | 103,249 | 0 | 0 |
BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 | 183 | 13,065 | SH | | DFND | 1 2 | 13,065 | 0 | 0 |
BLACKROCK MUNIHLDNGS QLTY II | COM | 09254C107 | 450 | 35,675 | SH | | DFND | 1 2 | 35,675 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 258 | 19,405 | SH | | DFND | 1 2 | 19,405 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 450 | 33,830 | SH | | DFND | 1 2 | 33,830 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 2,338 | 175,959 | SH | | DFND | 1 2 | 175,959 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 596 | 65,422 | SH | | DFND | 1 2 | 65,422 | 0 | 0 |
BLACKROCK MUNIYIELD CALI QLT | COM | 09254N103 | 1,391 | 97,904 | SH | | DFND | 1 2 | 97,904 | 0 | 0 |
BLACKROCK MUNIYIELD NY QLTY | COM | 09255E102 | 241 | 18,444 | SH | | DFND | 1 2 | 18,444 | 0 | 0 |
BLACKROCK MUNIYIELD NY QLTY | COM | 09255E102 | 899 | 68,704 | SH | | DFND | 1 2 | 68,704 | 0 | 0 |
BLACKROCK MUNIYIELD PA QLTY | COM | 09255G107 | 331 | 23,160 | SH | | DFND | 1 2 | 23,160 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 180 | 13,326 | SH | | DFND | 1 2 | 13,326 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 213 | 15,763 | SH | | DFND | 1 2 | 15,763 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 1,823 | 135,010 | SH | | DFND | 1 2 | 135,010 | 0 | 0 |
BLACKROCK MUNIYLD INVST QLTY | COM | 09254T100 | 292 | 21,561 | SH | | DFND | 1 2 | 21,561 | 0 | 0 |
BRANDYWINEGBL GLBAL INM OPRT | COM | 10537L104 | 280 | 22,189 | SH | | DFND | 1 2 | 22,189 | 0 | 0 |
CLEARBRIDGE ENERGY MIDSTRM O | COM | 18469P100 | 148 | 17,632 | SH | | DFND | 1 2 | 17,632 | 0 | 0 |
CLEARBRIDGE ENERGY MIDSTRM O | COM | 18469P100 | 777 | 92,368 | SH | | DFND | 1 2 | 92,368 | 0 | 0 |
CLEARBRIDGE MLP AND MIDSTRM | COM | 184692101 | 676 | 60,000 | SH | | DFND | 1 2 | 60,000 | 0 | 0 |
CLEARBRIDGE MLP AND MIDSTRM | COM | 184692101 | 465 | 41,300 | SH | | DFND | 1 2 | 41,300 | 0 | 0 |
CPI CARD GROUP INC | COM NEW | 12634H200 | 13 | 14,564 | SH | | DFND | 1 2 | 14,564 | 0 | 0 |
CPI CARD GROUP INC | COM NEW | 12634H200 | 75 | 82,978 | SH | | DFND | 1 2 | 82,978 | 0 | 0 |
CUSHING RENAISSANCE FD | COM | 231647108 | 667 | 49,297 | SH | | DFND | 1 2 | 49,297 | 0 | 0 |
DELAWARE INV MN MUN INC FD I | COM | 24610V103 | 1,422 | 108,217 | SH | | DFND | 1 2 | 108,217 | 0 | 0 |
DWS MUN INCOME TR NEW | COM | 233368109 | 375 | 33,122 | SH | | DFND | 1 2 | 33,122 | 0 | 0 |
DWS MUN INCOME TR NEW | COM | 233368109 | 2,888 | 254,939 | SH | | DFND | 1 2 | 254,939 | 0 | 0 |
DWS MUN INCOME TR NEW | COM | 233368109 | 879 | 77,609 | SH | | DFND | 1 2 | 77,609 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 166 | 14,721 | SH | | DFND | 1 2 | 14,721 | 0 | 0 |
EATON VANCE FLTING RATE INC | COM | 278279104 | 472 | 34,394 | SH | | DFND | 1 2 | 34,394 | 0 | 0 |
EATON VANCE FLTING RATE INC | COM | 278279104 | 655 | 47,741 | SH | | DFND | 1 2 | 47,741 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 1,100 | 83,000 | SH | | DFND | 1 2 | 83,000 | 0 | 0 |
EATON VANCE SR FLTNG RTE TR | COM | 27828Q105 | 916 | 67,579 | SH | | DFND | 1 2 | 67,579 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 123 | 19,166 | SH | | DFND | 1 2 | 19,166 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 353 | 55,089 | SH | | DFND | 1 2 | 55,089 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 702 | 109,515 | SH | | DFND | 1 2 | 109,515 | 0 | 0 |
ENLINK MIDSTREAM LLC | COM UNIT REP LTD | 29336T100 | 318 | 51,900 | SH | | DFND | 1 2 | 51,900 | 0 | 0 |
EQM MIDSTREAM PARTNERS LP | UNIT LTD PARTN | 26885B100 | 329 | 11,000 | SH | | DFND | 1 2 | 11,000 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 196 | 13,921 | SH | | DFND | 1 2 | 13,921 | 0 | 0 |
FIDUCIARY CLAYMORE ENGRY INF | COM | 31647Q106 | 154 | 19,518 | SH | | DFND | 1 2 | 19,518 | 0 | 0 |
FIDUCIARY CLAYMORE ENGRY INF | COM | 31647Q106 | 1,070 | 135,482 | SH | | DFND | 1 2 | 135,482 | 0 | 0 |
FIRST TR SR FLG RTE INCM FD | COM | 33733U108 | 782 | 62,272 | SH | | DFND | 1 2 | 62,272 | 0 | 0 |
FIRST TR SR FLOATING RATE 20 | COM SHS | 33740K101 | 582 | 63,311 | SH | | DFND | 1 2 | 63,311 | 0 | 0 |
FS KKR CAPITAL CORP | COM | 302635107 | 488 | 79,589 | SH | | DFND | 1 2 | 79,589 | 0 | 0 |
FST TR NEW OPPORT MLP & ENE | COM | 33739M100 | 275 | 29,500 | SH | | DFND | 1 2 | 29,500 | 0 | 0 |
GABELLI DIVD & INCOME TR | COM | 36242H104 | 536 | 24,424 | SH | | DFND | 1 2 | 24,424 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 239 | 25,713 | SH | | DFND | 1 2 | 25,713 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 626 | 67,363 | SH | | DFND | 1 2 | 67,363 | 0 | 0 |
GOLDMAN SACHS MLP INC OPP FD | COM SHS | 38147W103 | 545 | 89,800 | SH | | DFND | 1 2 | 89,800 | 0 | 0 |
GOLDMAN SACHS MLP INC OPP FD | COM SHS | 38147W103 | 396 | 65,200 | SH | | DFND | 1 2 | 65,200 | 0 | 0 |
HIGHLAND INCOME FUND | HIGHLAND INCOME | 43010E404 | 497 | 40,000 | SH | | DFND | 1 2 | 40,000 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 451 | 39,754 | SH | | DFND | 1 2 | 39,754 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 119 | 10,514 | SH | | DFND | 1 2 | 10,514 | 0 | 0 |
INVESCO EXCHNG TRADED FD TR | SR LN ETF | 46138G508 | 7,188 | 315,000 | SH | | DFND | 1 2 | 315,000 | 0 | 0 |
INVESCO PA VALUE MUN INCOME | COM | 46132K109 | 434 | 32,917 | SH | | DFND | 1 2 | 32,917 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 20 | 85,100 | SH | Put | DFND | 1 2 | 85,100 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 3 | 14,900 | SH | Put | DFND | 1 2 | 14,900 | 0 | 0 |
ISHARES TR | IBOXX HI YD ETF | 464288513 | 1 | 25,000 | SH | Put | DFND | 1 2 | 25,000 | 0 | 0 |
KAYNE ANDERSN MLP MIDS INVT | COM | 486606106 | 697 | 50,000 | SH | | DFND | 1 2 | 50,000 | 0 | 0 |
MARTIN MIDSTREAM PRTNRS L P | UNIT L P INT | 573331105 | 40 | 10,000 | SH | | DFND | 1 2 | 10,000 | 0 | 0 |
NEUBERGER BERMAN MLP AND ENR | COM | 64129H104 | 1,352 | 200,000 | SH | | DFND | 1 2 | 100,000 | 0 | 0 |
NUVEEN ARIZONA QLTY MUN INC | COM | 67061W104 | 198 | 14,699 | SH | | DFND | 1 2 | 14,699 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 1,687 | 220,000 | SH | | DFND | 1 2 | 220,000 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 3,061 | 399,149 | SH | | DFND | 1 2 | 399,149 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 666 | 65,000 | SH | | DFND | 1 2 | 65,000 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 103 | 10,025 | SH | | DFND | 1 2 | 10,025 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 587 | 57,281 | SH | | DFND | 1 2 | 57,281 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 1,404 | 140,500 | SH | | DFND | 1 2 | 140,500 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 567 | 56,759 | SH | | DFND | 1 2 | 56,759 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 127 | 10,090 | SH | | DFND | 1 2 | 10,090 | 0 | 0 |
NUVEEN MINESOTA QLT MUN INC | SHS | 670734102 | 560 | 38,323 | SH | | DFND | 1 2 | 38,323 | 0 | 0 |
NUVEEN SHT DUR CR OPP FD | COM | 67074X107 | 1,204 | 79,287 | SH | | DFND | 1 2 | 79,287 | 0 | 0 |
NUVEEN SHT DUR CR OPP FD | COM | 67074X107 | 282 | 18,539 | SH | | DFND | 1 2 | 18,539 | 0 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 1,192 | 200,000 | SH | | DFND | 1 2 | 200,000 | 0 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 520 | 87,205 | SH | | DFND | 1 2 | 87,205 | 0 | 0 |
NUVEEN SR INCOME FD | COM | 67067Y104 | 91 | 15,262 | SH | | DFND | 1 2 | 15,262 | 0 | 0 |
NUVEEN TEXAS QLTY MUN INCME | COM | 670983105 | 504 | 35,144 | SH | | DFND | 1 2 | 35,144 | 0 | 0 |
OAKTREE SPECIALTY LENDING CO | COM | 67401P108 | 638 | 116,911 | SH | | DFND | 1 2 | 116,911 | 0 | 0 |
PIMCO ENRGY TACTICAL CR OPP | COM SHS BEN INT | 69346N107 | 825 | 50,000 | SH | | DFND | 1 2 | 50,000 | 0 | 0 |
PIONEER MUN HIGH INCOME ADV | COM | 723762100 | 757 | 70,000 | SH | | DFND | 1 2 | 70,000 | 0 | 0 |
PREFERRED APT CMNTYS INC | COM | 74039L103 | 266 | 20,000 | SH | | DFND | 1 2 | 20,000 | 0 | 0 |
RIVERNORTH OPPRTUNITIES FD I | COM | 76881Y109 | 824 | 50,500 | SH | | DFND | 1 2 | 50,500 | 0 | 0 |
SOUTHWESTERN ENERGY CO | COM | 845467109 | 121 | 50,000 | SH | | DFND | 1 2 | 50,000 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 160 | 150,000 | SH | Put | DFND | 1 2 | 50,000 | 0 | 0 |
SPROTT PHYSICAL GOLD & SILVE | TR UNIT | 85208R101 | 1,466 | 100,000 | SH | | DFND | 1 2 | 100,000 | 0 | 0 |
SUMMIT MIDSTREAM PARTNERS LP | COM UNIT LTD | 866142102 | 50 | 15,000 | SH | | DFND | 1 2 | 15,000 | 0 | 0 |
TEKLA LIFE SCIENCES INVS | SH BEN INT | 87911K100 | 334 | 19,169 | SH | | DFND | 1 2 | 19,169 | 0 | 0 |
TEKLA LIFE SCIENCES INVS | SH BEN INT | 87911K100 | 1,600 | 91,824 | SH | | DFND | 1 2 | 91,824 | 0 | 0 |
TORTOISE ENERGY INDEPENDENC | COM | 89148K101 | 617 | 142,410 | SH | | DFND | 1 2 | 142,410 | 0 | 0 |
TORTOISE ESSENTIAL ASSETS IN | COM SH BEN INT | 89148A103 | 1,005 | 61,318 | SH | | DFND | 1 2 | 61,318 | 0 | 0 |
TORTOISE ESSENTIAL ASSETS IN | COM SH BEN INT | 89148A103 | 197 | 12,000 | SH | | DFND | 1 2 | 12,000 | 0 | 0 |
TORTOISE MIDSTRM ENERGY FD I | COM | 89148B101 | 586 | 53,485 | SH | | DFND | 1 2 | 53,485 | 0 | 0 |
TORTOISE MIDSTRM ENERGY FD I | COM | 89148B101 | 789 | 72,015 | SH | | DFND | 1 2 | 72,015 | 0 | 0 |
TORTOISE PWR & ENERGY INFRAS | COM | 89147X104 | 480 | 28,312 | SH | | DFND | 1 2 | 28,312 | 0 | 0 |
UBS AG LONDON BRH | ETRACS MTH 2XLV | 90270L842 | 2,138 | 149,946 | SH | | DFND | 1 2 | 149,946 | 0 | 0 |
VERTICAL CAP INCOME FUND | SHS BEN INT | 92535C104 | 699 | 67,174 | SH | | DFND | 1 2 | 67,174 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 189 | 30,600 | SH | | DFND | 1 2 | 30,600 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 338 | 54,651 | SH | | DFND | 1 2 | 54,651 | 0 | 0 |
VOYA INFRASTRUCTURE INDLS & | COM | 92912X101 | 329 | 28,547 | SH | | DFND | 1 2 | 28,547 | 0 | 0 |
VOYA INFRASTRUCTURE INDLS & | COM | 92912X101 | 158 | 13,725 | SH | | DFND | 1 2 | 13,725 | 0 | 0 |
VOYA NAT RES EQUITY INCOME F | COM | 92913C106 | 531 | 128,841 | SH | | DFND | 1 2 | 128,841 | 0 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 387 | 77,269 | SH | | DFND | 1 2 | 77,269 | 0 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 577 | 58,196 | SH | | DFND | 1 2 | 58,196 | 0 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 293 | 29,582 | SH | | DFND | 1 2 | 29,582 | 0 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 527 | 53,162 | SH | | DFND | 1 2 | 53,162 | 0 | 0 |