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 | 240 | 48,150 | SH | | SOLE | | 48,150 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 500 | 81,912 | SH | | SOLE | | 81,912 | 0 | 0 |
ADVENT CLAYMORE CV SECS & IN | COM | 00764C109 | 1,281 | 81,808 | SH | | SOLE | | 81,808 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 1,417 | 105,914 | SH | | SOLE | | 105,914 | 0 | 0 |
ALLIANZGI CONV & INCOME FD | COM | 018828103 | 139 | 20,500 | SH | | SOLE | | 20,500 | 0 | 0 |
ALLIANZGI CONV & INCOME FD I | COM | 018825109 | 2,732 | 451,626 | SH | | SOLE | | 451,626 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 1,322 | 231,058 | SH | | SOLE | | 231,058 | 0 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 2,898 | 180,928 | SH | | SOLE | | 180,928 | 0 | 0 |
BARINGS GLOBAL SHORT DURATIO | COM | 06760L100 | 207 | 10,476 | SH | | SOLE | | 10,476 | 0 | 0 |
BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | 1,954 | 178,919 | SH | | SOLE | | 178,919 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 263 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
BLACKROCK DEBT STRAT FD INC | COM NEW | 09255R202 | 426 | 36,957 | SH | | SOLE | | 36,957 | 0 | 0 |
BLACKROCK INVT QUALITY MUN T | COM | 09247D105 | 491 | 33,892 | SH | | SOLE | | 33,892 | 0 | 0 |
BLACKROCK LTD DURATION INC T | COM SHS | 09249W101 | 1,199 | 77,027 | SH | | SOLE | | 77,027 | 0 | 0 |
BLACKROCK LONG-TERM MUNI ADV | COM | 09250B103 | 456 | 39,791 | SH | | SOLE | | 39,791 | 0 | 0 |
BLACKROCK MUNIENHANCED FD IN | COM | 09253Y100 | 1,753 | 149,961 | SH | | SOLE | | 149,961 | 0 | 0 |
BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 | 1,975 | 119,169 | SH | | SOLE | | 119,169 | 0 | 0 |
BLACKROCK MUNIHLDNGS QLTY II | COM | 09254C107 | 314 | 23,672 | SH | | SOLE | | 23,672 | 0 | 0 |
BLACKROCK MUNIHOLDNGS QLTY I | COM | 09254A101 | 1,846 | 139,945 | SH | | SOLE | | 139,945 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 655 | 67,827 | SH | | SOLE | | 67,827 | 0 | 0 |
BLACKROCK MUNIY QUALITY FD I | COM | 09254G108 | 3,727 | 291,401 | SH | | SOLE | | 291,401 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 2,199 | 157,867 | SH | | SOLE | | 157,867 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254F100 | 5,661 | 378,183 | SH | | SOLE | | 378,183 | 0 | 0 |
BLACKROCK MUNICIPAL BOND TR | COM | 09249H104 | 605 | 40,190 | SH | | SOLE | | 40,190 | 0 | 0 |
BLACKROCK MUN INCOME TR | SH BEN INT | 09248F109 | 2,528 | 181,321 | SH | | SOLE | | 181,321 | 0 | 0 |
BLACKROCK MUNI INCOME TR II | COM | 09249N101 | 2,118 | 142,428 | SH | | SOLE | | 142,428 | 0 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 3,143 | 198,408 | SH | | SOLE | | 198,408 | 0 | 0 |
BLACKSTONE GSO LNG SHRT CR I | COM SHS BN INT | 09257D102 | 1,290 | 80,195 | SH | | SOLE | | 80,195 | 0 | 0 |
BROOKFIELD REAL ASSETS INCOM | SH BEN INT | 112830104 | 3,549 | 155,799 | SH | | SOLE | | 155,799 | 0 | 0 |
CALAMOS CONV & HIGH INCOME F | COM SHS | 12811P108 | 1,945 | 170,720 | SH | | SOLE | | 170,720 | 0 | 0 |
CLEARBRIDGE ENERGY MLP FD IN | COM | 184692101 | 205 | 12,242 | SH | | SOLE | | 12,242 | 0 | 0 |
COHEN & STEERS TOTAL RETURN | COM | 19247R103 | 781 | 63,410 | SH | | SOLE | | 63,410 | 0 | 0 |
DEUTSCHE STRATEGIC MUN | COM | 25159F102 | 1,433 | 115,537 | SH | | SOLE | | 115,537 | 0 | 0 |
DIVERSIFIED REAL ASSET INC F | COM SHS | 25533B108 | 1,066 | 61,438 | SH | | SOLE | | 61,438 | 0 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 951 | 47,369 | SH | | SOLE | | 47,369 | 0 | 0 |
DREYFUS MUN BD INFRSTRCTR FD | SHS | 26203D101 | 5,530 | 436,437 | SH | | SOLE | | 436,437 | 0 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 2,763 | 309,701 | SH | | SOLE | | 309,701 | 0 | 0 |
EATON VANCE FLTG RATE INCOM | COM SHS BEN INT | 278284104 | 1,159 | 68,775 | SH | | SOLE | | 68,775 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 2,232 | 161,415 | SH | | SOLE | | 161,415 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 983 | 78,298 | SH | | SOLE | | 78,298 | 0 | 0 |
EATON VANCE MUN BD FD II | COM | 27827K109 | 3,119 | 253,998 | SH | | SOLE | | 253,998 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 5,793 | 451,162 | SH | | SOLE | | 451,162 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 2,179 | 157,526 | SH | | SOLE | | 157,526 | 0 | 0 |
FIRST TR SR FLG RTE INCM FD | COM | 33733U108 | 1,393 | 100,721 | SH | | SOLE | | 100,721 | 0 | 0 |
FLAHERTY & CRUMRINE PFD INC | COM | 338480106 | 814 | 53,922 | SH | | SOLE | | 53,922 | 0 | 0 |
FLAHERTY&CRMN PFD SEC INCOM | COM | 338478100 | 2,078 | 101,116 | SH | | SOLE | | 101,116 | 0 | 0 |
BARCLAYS BK PLC | IPATH S&P500 VIX | 06740Q252 | 172 | 10,875 | SH | | SOLE | | 10,875 | 0 | 0 |
INVESCO ADVANTAGE MUNICIPAL | SH BEN INT | 46132E103 | 6,504 | 580,708 | SH | | SOLE | | 580,708 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 1,953 | 159,711 | SH | | SOLE | | 159,711 | 0 | 0 |
INVESCO HIGH INCOME TR II | COM | 46131F101 | 334 | 23,113 | SH | | SOLE | | 23,113 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 1,190 | 94,939 | SH | | SOLE | | 94,939 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 4,290 | 345,096 | SH | | SOLE | | 345,096 | 0 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 959 | 207,160 | SH | | SOLE | | 207,160 | 0 | 0 |
INVESCO TR INVT GRADE MUNS | COM | 46131M106 | 3,783 | 291,215 | SH | | SOLE | | 291,215 | 0 | 0 |
INVESCO VALUE MUN INCOME | COM | 46132P108 | 6,910 | 473,642 | SH | | SOLE | | 473,642 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 2,128 | 124,910 | SH | | SOLE | | 124,910 | 0 | 0 |
HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 1,196 | 64,867 | SH | | SOLE | | 64,867 | 0 | 0 |
KAYNE ANDERSON ENERGY DEV CO | COM | 48660Q102 | 214 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
KAYNE ANDERSON MLP INVT CO | COM | 486606106 | 393 | 18,738 | SH | | SOLE | | 18,738 | 0 | 0 |
MFS HIGH INCOME MUN TR | SH BEN INT | 59318D104 | 2,355 | 469,165 | SH | | SOLE | | 469,165 | 0 | 0 |
MFS HIGH YIELD MUN TR | SH BEN INT | 59318E102 | 465 | 100,622 | SH | | SOLE | | 100,622 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 2,620 | 376,947 | SH | | SOLE | | 376,947 | 0 | 0 |
MACQUARIE FT TR GB INF UT DI | COM | 55607W100 | 243 | 19,413 | SH | | SOLE | | 19,413 | 0 | 0 |
MAINSTAY DEFINEDTERM MN OPP | COM | 56064K100 | 1,492 | 77,517 | SH | | SOLE | | 77,517 | 0 | 0 |
NEUBERGER BERMAN HGH YLD FD | COM | 64128C106 | 2,024 | 170,350 | SH | | SOLE | | 170,350 | 0 | 0 |
NEUBERGER BERMAN INTER MUNI | COM | 64124P101 | 1,932 | 130,130 | SH | | SOLE | | 130,130 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 10,983 | 822,079 | SH | | SOLE | | 822,079 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 522 | 60,100 | SH | | SOLE | | 60,100 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 7,202 | 526,098 | SH | | SOLE | | 526,098 | 0 | 0 |
NUVEEN ENHANCED MUN CREDIT O | COM SH BEN INT | 67070X101 | 5,960 | 414,189 | SH | | SOLE | | 414,189 | 0 | 0 |
NUVEEN ENHANCED AMT FREE MUN | COM | 67071L106 | 5,490 | 375,504 | SH | | SOLE | | 375,504 | 0 | 0 |
NUVEEN DOW 30 DYN OVERWRITE | SHS | 67075F105 | 553 | 35,314 | SH | | SOLE | | 35,314 | 0 | 0 |
NUVEEN ENHANCED MUN VALUE FD | COM | 67074M101 | 1,860 | 132,513 | SH | | SOLE | | 132,513 | 0 | 0 |
NUVEEN FLEXIBLE INVT INCOME | COM | 67075B104 | 343 | 20,264 | SH | | SOLE | | 20,264 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 535 | 46,500 | SH | | SOLE | | 46,500 | 0 | 0 |
NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 | 1,970 | 119,604 | SH | | SOLE | | 119,604 | 0 | 0 |
NUVEEN PFD AND INC TERM FD | COM | 67075A106 | 765 | 31,766 | SH | | SOLE | | 31,766 | 0 | 0 |
NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 | 262 | 26,700 | SH | | SOLE | | 26,700 | 0 | 0 |
PIMCO DYNAMIC CR INCOME FD | COM SHS | 72202D106 | 876 | 40,863 | SH | | SOLE | | 40,863 | 0 | 0 |
PIMCO INCOME STRATEGY FUND | COM | 72201H108 | 586 | 52,500 | SH | | SOLE | | 52,500 | 0 | 0 |
PIMCO MUNICIPAL INCOME FD | COM | 72200R107 | 3,242 | 245,242 | SH | | SOLE | | 245,242 | 0 | 0 |
PIMCO MUN INCOME FD III | COM | 72201A103 | 119 | 10,560 | SH | | SOLE | | 10,560 | 0 | 0 |
PROSHARES TR | SHRT 20+YR TRE | 74347X849 | 117 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
PROSHARES TR | SHT 7-10 YR TR | 74348A608 | 114 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
PROSHARES TR | SHORT S&P 500 NE | 74347B425 | 292 | 8,480 | SH | | SOLE | | 8,480 | 0 | 0 |
PACHOLDER HIGH YIELD FD INC | COM | 693742108 | 960 | 124,310 | SH | | SOLE | | 124,310 | 0 | 0 |
PIONEER DIV HIGH INCOME TRUS | COM | 723653101 | 864 | 53,398 | SH | | SOLE | | 53,398 | 0 | 0 |
PIONEER HIGH INCOME TR | COM | 72369H106 | 3,392 | 343,718 | SH | | SOLE | | 343,718 | 0 | 0 |
PIONEER MUN HIGH INCOME ADV | COM | 723762100 | 6,470 | 588,741 | SH | | SOLE | | 588,741 | 0 | 0 |
PIONEER MUN HIGH INCOME TR | COM SHS | 723763108 | 6,561 | 564,654 | SH | | SOLE | | 564,654 | 0 | 0 |
PRINCIPAL REAL ESTATE INCOME | SH BEN INT | 74255X104 | 1,072 | 61,097 | SH | | SOLE | | 61,097 | 0 | 0 |
PROSHARES TR | PSHS SHORT DOW30 | 74347R701 | 199 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PRUDENTIAL SHT DURATION HG Y | COM | 74442F107 | 344 | 22,364 | SH | | SOLE | | 22,364 | 0 | 0 |
PUTNAM MANAGED MUN INCOM TR | COM | 746823103 | 4,500 | 619,770 | SH | | SOLE | | 619,770 | 0 | 0 |
PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 | 6,200 | 516,248 | SH | | SOLE | | 516,248 | 0 | 0 |
SPDR SERIES TRUST | NUV HGHYLD MUN | 78464A284 | 3,400 | 60,063 | SH | | SOLE | | 60,063 | 0 | 0 |
THL CR SR LN FD | COM | 87244R103 | 1,725 | 95,813 | SH | | SOLE | | 95,813 | 0 | 0 |
VANECK VECTORS ETF TR | HIGH YLD MUN ETF | 92189F361 | 4,426 | 144,797 | SH | | SOLE | | 144,797 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 697 | 66,538 | SH | | SOLE | | 66,538 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 143 | 19,545 | SH | | SOLE | | 19,545 | 0 | 0 |
VOYA INFRASTRUCTURE INDLS & MT | COM | 92912X101 | 113 | 7,444 | SH | | SOLE | | 7,444 | 0 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 1,062 | 196,300 | SH | | SOLE | | 196,300 | 0 | 0 |
WELLS FARGO INCOME OPPORTUNI | COM SHS | 94987B105 | 1,628 | 193,809 | SH | | SOLE | | 193,809 | 0 | 0 |
WESTERN ASSET GLB HI INCOME | COM | 95766B109 | 240 | 23,810 | SH | | SOLE | | 23,810 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 2,794 | 387,045 | SH | | SOLE | | 387,045 | 0 | 0 |
WESTERN ASSET HGH YLD DFNDFD | COM | 95768B107 | 527 | 34,279 | SH | | SOLE | | 34,279 | 0 | 0 |
WESTERN ASSET INTM MUNI FD I | COM | 958435109 | 64 | 6,748 | SH | | SOLE | | 6,748 | 0 | 0 |
WESTERN ASST MN PRT FD INC | COM | 95766P108 | 786 | 52,040 | SH | | SOLE | | 52,040 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 1,800 | 134,824 | SH | | SOLE | | 134,824 | 0 | 0 |
ISHARES TR | NATIONAL MUN ETF | 464288414 | 2,571 | 23,599 | SH | | SOLE | | 23,599 | 0 | 0 |
ISHARES TR | U.S. PFD STK ETF | 464288687 | 1,057 | 27,325 | SH | | SOLE | | 27,325 | 0 | 0 |