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 | 248 | 48,150 | SH | | SOLE | | 48,150 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 1,176 | 188,394 | SH | | SOLE | | 188,394 | 0 | 0 |
ADVENT CLAYMORE CV SECS & IN | COM | 00764C109 | 1,014 | 62,608 | SH | | SOLE | | 62,608 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 2,035 | 145,772 | SH | | SOLE | | 145,772 | 0 | 0 |
ALLIANZGI CONV & INCOME FD I | COM | 018825109 | 2,660 | 425,666 | SH | | SOLE | | 425,666 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 1,449 | 218,488 | SH | | SOLE | | 218,488 | 0 | 0 |
APOLLO SR FLOATING RATE FD I | COM | 037636107 | 3,055 | 182,386 | SH | | SOLE | | 182,386 | 0 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 2,967 | 180,928 | SH | | SOLE | | 180,928 | 0 | 0 |
BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | 2,869 | 253,919 | SH | | SOLE | | 253,919 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 271 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
BLACKROCK DEBT STRAT FD INC | COM NEW | 09255R202 | 431 | 36,957 | SH | | SOLE | | 36,957 | 0 | 0 |
BLACKROCK INVT QUALITY MUN T | COM | 09247D105 | 2,211 | 147,823 | SH | | SOLE | | 147,823 | 0 | 0 |
BLACKROCK LTD DURATION INC T | COM SHS | 09249W101 | 1,073 | 66,587 | SH | | SOLE | | 66,587 | 0 | 0 |
BLACKROCK MUNIHOLDNGS QLTY I | COM | 09254A101 | 1,647 | 121,082 | SH | | SOLE | | 121,082 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 1,038 | 106,960 | SH | | SOLE | | 106,960 | 0 | 0 |
BLACKROCK MUNIY QUALITY FD I | COM | 09254G108 | 3,547 | 265,926 | SH | | SOLE | | 265,926 | 0 | 0 |
BLACKROCK MUNICIPAL BOND TR | COM | 09249H104 | 777 | 49,987 | SH | | SOLE | | 49,987 | 0 | 0 |
BLACKROCK MUN INCOME TR | SH BEN INT | 09248F109 | 4,208 | 294,681 | SH | | SOLE | | 294,681 | 0 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 3,370 | 210,908 | SH | | SOLE | | 210,908 | 0 | 0 |
BLACKSTONE GSO LNG SHRT CR I | COM SHS BN INT | 09257D102 | 1,551 | 96,467 | SH | | SOLE | | 96,467 | 0 | 0 |
BROOKFIELD REAL ASSETS INCOM | SH BEN INT | 112830104 | 3,706 | 155,799 | SH | | SOLE | | 155,799 | 0 | 0 |
CLEARBRIDGE ENERGY MLP FD IN | COM | 184692101 | 182 | 12,242 | SH | | SOLE | | 12,242 | 0 | 0 |
COHEN & STEERS TOTAL RETURN | COM | 19247R103 | 906 | 72,741 | SH | | SOLE | | 72,741 | 0 | 0 |
DEUTSCHE MUN INCOME | COM | 25160C106 | 2,114 | 166,364 | SH | | SOLE | | 166,364 | 0 | 0 |
DEUTSCHE STRATEGIC MUN | COM | 25159F102 | 2,280 | 186,700 | SH | | SOLE | | 186,700 | 0 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 1,854 | 87,252 | SH | | SOLE | | 87,252 | 0 | 0 |
DREYFUS MUN BD INFRSTRCTR FD | SHS | 26203D101 | 4,110 | 307,383 | SH | | SOLE | | 307,383 | 0 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 2,402 | 263,060 | SH | | SOLE | | 263,060 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 2,433 | 173,415 | SH | | SOLE | | 173,415 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 4,408 | 347,670 | SH | | SOLE | | 347,670 | 0 | 0 |
EATON VANCE MUN BD FD II | COM | 27827K109 | 1,797 | 143,214 | SH | | SOLE | | 143,214 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 7,042 | 543,814 | SH | | SOLE | | 543,814 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 2,174 | 147,925 | SH | | SOLE | | 147,925 | 0 | 0 |
FIRST TR SR FLG RTE INCM FD | COM | 33733U108 | 1,224 | 90,707 | SH | | SOLE | | 90,707 | 0 | 0 |
FLAHERTY & CRUMRINE PFD INC | COM | 338480106 | 689 | 45,495 | SH | | SOLE | | 45,495 | 0 | 0 |
BARCLAYS BK PLC | IPATH S&P500 VIX | 06746L422 | 70 | 1,781 | SH | | SOLE | | 1,781 | 0 | 0 |
INVESCO ADVANTAGE MUNICIPAL | SH BEN INT | 46132E103 | 6,906 | 600,008 | SH | | SOLE | | 600,008 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 3,041 | 255,089 | SH | | SOLE | | 255,089 | 0 | 0 |
INVESCO MUN OPPORTUNITY TR | COM | 46132C107 | 6,756 | 519,307 | SH | | SOLE | | 519,307 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 2,867 | 224,502 | SH | | SOLE | | 224,502 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 5,974 | 466,728 | SH | | SOLE | | 466,728 | 0 | 0 |
INVESCO TR INVT GRADE MUNS | COM | 46131M106 | 2,850 | 212,706 | SH | | SOLE | | 212,706 | 0 | 0 |
INVESCO VALUE MUN INCOME | COM | 46132P108 | 7,310 | 488,619 | SH | | SOLE | | 488,619 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 1,931 | 106,405 | SH | | SOLE | | 106,405 | 0 | 0 |
MFS HIGH INCOME MUN TR | SH BEN INT | 59318D104 | 127 | 24,179 | SH | | SOLE | | 24,179 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 795 | 110,452 | SH | | SOLE | | 110,452 | 0 | 0 |
NEUBERGER BERMAN HGH YLD FD | COM | 64128C106 | 2,855 | 234,819 | SH | | SOLE | | 234,819 | 0 | 0 |
NEUBERGER BERMAN INTER MUNI | COM | 64124P101 | 3,389 | 220,632 | SH | | SOLE | | 220,632 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 9,677 | 698,696 | SH | | SOLE | | 698,696 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 1,723 | 202,900 | SH | | SOLE | | 202,900 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 8,757 | 617,132 | SH | | SOLE | | 617,132 | 0 | 0 |
NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | 4,546 | 298,875 | SH | | SOLE | | 298,875 | 0 | 0 |
NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 | 4,808 | 312,389 | SH | | SOLE | | 312,389 | 0 | 0 |
NUVEEN DOW 30 DYN OVERWRITE | SHS | 67075F105 | 429 | 25,314 | SH | | SOLE | | 25,314 | 0 | 0 |
NUVEEN ENHANCED MUN VALUE FD | COM | 67074M101 | 3,863 | 262,797 | SH | | SOLE | | 262,797 | 0 | 0 |
NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 | 2,078 | 119,604 | SH | | SOLE | | 119,604 | 0 | 0 |
NUVEEN PFD & INCOME TERM FD | COM | 67075A106 | 2,330 | 92,531 | SH | | SOLE | | 92,531 | 0 | 0 |
NUVEEN PFD & INCM OPPORTNYS | COM | 67073B106 | 1,408 | 133,247 | SH | | SOLE | | 133,247 | 0 | 0 |
NUVEEN REAL ASSET INC & GROW | COM | 67074Y105 | 1,109 | 61,591 | SH | | SOLE | | 61,591 | 0 | 0 |
PIMCO DYNAMIC CR INCOME FD | COM SHS | 72202D106 | 942 | 40,863 | SH | | SOLE | | 40,863 | 0 | 0 |
PIMCO MUNICIPAL INCOME FD | COM | 72200R107 | 2,988 | 218,588 | SH | | SOLE | | 218,588 | 0 | 0 |
POWERSHARES ETF TR II | PFD PORTFOLIO | 73936T565 | 2,942 | 195,759 | SH | | SOLE | | 195,759 | 0 | 0 |
PROSHARES TR | SHRT 20+YR TRE | 74347X849 | 112 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
PROSHARES TR | SHT 7-10 YR TR | 74348A608 | 113 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
PROSHARES TR | SHORT S&P 500 NE | 74347B425 | 273 | 8,480 | SH | | SOLE | | 8,480 | 0 | 0 |
PIONEER DIV HIGH INCOME TRUS | COM | 723653101 | 1,813 | 109,423 | SH | | SOLE | | 109,423 | 0 | 0 |
PIONEER HIGH INCOME TR | COM | 72369H106 | 4,133 | 412,440 | SH | | SOLE | | 412,440 | 0 | 0 |
PIONEER MUN HIGH INCOME ADV | COM | 723762100 | 6,067 | 525,285 | SH | | SOLE | | 525,285 | 0 | 0 |
PIONEER MUN HIGH INCOME TR | COM SHS | 723763108 | 5,345 | 444,325 | SH | | SOLE | | 444,325 | 0 | 0 |
PRINCIPAL REAL ESTATE INCOME | SH BEN INT | 74255X104 | 1,097 | 61,097 | SH | | SOLE | | 61,097 | 0 | 0 |
PROSHARES TR | PSHS SHORT DOW30 | 74347R701 | 182 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PRUDENTIAL SHT DURATION HG Y | COM | 74442F107 | 1,455 | 95,364 | SH | | SOLE | | 95,364 | 0 | 0 |
PUTNAM MANAGED MUN INCOM TR | COM | 746823103 | 4,800 | 634,895 | SH | | SOLE | | 634,895 | 0 | 0 |
PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 | 6,912 | 547,264 | SH | | SOLE | | 547,264 | 0 | 0 |
SPDR SERIES TRUST | NUV HGHYLD MUN | 78464A284 | 1,645 | 28,805 | SH | | SOLE | | 28,805 | 0 | 0 |
SALIENT MIDSTREAM & MLP FD | SH BEN INT | 79471V105 | 116 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
VANECK VECTORS ETF TR | HIGH YLD MUN ETF | 92189F361 | 5,658 | 180,700 | SH | | SOLE | | 180,700 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 925 | 80,338 | SH | | SOLE | | 80,338 | 0 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 1,027 | 196,300 | SH | | SOLE | | 196,300 | 0 | 0 |
WELLS FARGO INCOME OPPORTUNI | COM SHS | 94987B105 | 1,696 | 193,809 | SH | | SOLE | | 193,809 | 0 | 0 |
WESTERN ASSET CORPORATE LN F | COM | 95790J102 | 525 | 48,315 | SH | | SOLE | | 48,315 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 1,693 | 107,577 | SH | | SOLE | | 107,577 | 0 | 0 |
WESTERN ASSET GLB HI INCOME | COM | 95766B109 | 245 | 23,810 | SH | | SOLE | | 23,810 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 3,648 | 505,919 | SH | | SOLE | | 505,919 | 0 | 0 |
WESTERN ASSET HIGH INCM OPP | COM | 95766K109 | 585 | 114,090 | SH | | SOLE | | 114,090 | 0 | 0 |
WESTERN ASSET HGH YLD DFNDFD | COM | 95768B107 | 1,160 | 74,579 | SH | | SOLE | | 74,579 | 0 | 0 |
WESTERN ASSET INVT GRADE DEF | COM | 95790A101 | 629 | 29,656 | SH | | SOLE | | 29,656 | 0 | 0 |
WESTERN ASST MNGD MUN FD INC | COM | 95766M105 | 488 | 34,831 | SH | | SOLE | | 34,831 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 2,469 | 178,499 | SH | | SOLE | | 178,499 | 0 | 0 |
ISHARES TR | U.S. PFD STK ETF | 464288687 | 794 | 20,450 | SH | | SOLE | | 20,450 | 0 | 0 |