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 | 171 | 35,000 | SH | | SOLE | | 35,000 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 728 | 121,533 | SH | | SOLE | | 121,533 | 0 | 0 |
ADVENT CLAYMORE CV SECS & IN | COM | 00764C109 | 670 | 42,161 | SH | | SOLE | | 42,161 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 3,673 | 274,073 | SH | | SOLE | | 274,073 | 0 | 0 |
ALLIANZGI CONV & INCOME FD I | COM | 018825109 | 1,488 | 239,659 | SH | | SOLE | | 239,659 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 1,561 | 231,588 | SH | | SOLE | | 231,588 | 0 | 0 |
APOLLO SR FLOATING RATE FD I | COM | 037636107 | 3,324 | 204,930 | SH | | SOLE | | 204,930 | 0 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 3,018 | 183,828 | SH | | SOLE | | 183,828 | 0 | 0 |
BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | 1,613 | 147,479 | SH | | SOLE | | 147,479 | 0 | 0 |
BLACKROCK INVT QUALITY MUN T | COM | 09247D105 | 3,842 | 257,475 | SH | | SOLE | | 257,475 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 685 | 49,186 | SH | | SOLE | | 49,186 | 0 | 0 |
BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 | 154 | 9,339 | SH | | SOLE | | 9,339 | 0 | 0 |
BLACKROCK MUNIYIELD FD INC | COM | 09253W104 | 2,597 | 178,869 | SH | | SOLE | | 178,869 | 0 | 0 |
BLACKROCK MUNIY QUALITY FD I | COM | 09254G108 | 3,566 | 272,237 | SH | | SOLE | | 272,237 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 691 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
BLACKROCK MUNICIPL INC QLTY | COM | 092479104 | 140 | 9,859 | SH | | SOLE | | 9,859 | 0 | 0 |
BLACKROCK MUNICIPAL BOND TR | COM | 09248F109 | 4,484 | 318,212 | SH | | SOLE | | 318,212 | 0 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 2,535 | 161,388 | SH | | SOLE | | 161,388 | 0 | 0 |
BLACKSTONE GSO LNG SHRT CR I | COM SHS BN INT | 09257D102 | 2,269 | 142,510 | SH | | SOLE | | 142,510 | 0 | 0 |
BROOKFIELD REAL ASSETS INCOM | SH BEN INT | 112830104 | 2,476 | 105,958 | SH | | SOLE | | 105,958 | 0 | 0 |
CLEARBRIDGE ENERGY MLP FD IN | COM | 184692101 | 107 | 7,000 | SH | | SOLE | | 7,000 | 0 | 0 |
COHEN & STEERS LTD DUR PFD I | COM | 19248C105 | 1,832 | 70,289 | SH | | SOLE | | 70,289 | 0 | 0 |
COHEN & STEERS TOTAL RETURN | COM | 19247R103 | 460 | 36,031 | SH | | SOLE | | 36,031 | 0 | 0 |
DEUTSCHE MUN INCOME | COM | 25160C106 | 3,560 | 299,192 | SH | | SOLE | | 299,192 | 0 | 0 |
DEUTSCHE STRATEGIC MUN | COM | 25159F102 | 2,940 | 249,552 | SH | | SOLE | | 249,552 | 0 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 3,315 | 164,197 | SH | | SOLE | | 164,197 | 0 | 0 |
DREYFUS MUN BD INFRSTRCTR FD | SHS | 26203D101 | 5,184 | 398,798 | SH | | SOLE | | 398,798 | 0 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 1,975 | 222,143 | SH | | SOLE | | 222,143 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 3,249 | 238,040 | SH | | SOLE | | 238,040 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 4,492 | 359,100 | SH | | SOLE | | 359,100 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 7,637 | 615,891 | SH | | SOLE | | 615,891 | 0 | 0 |
EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 | 136 | 20,800 | SH | | SOLE | | 20,800 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 3,967 | 282,525 | SH | | SOLE | | 282,525 | 0 | 0 |
BARCLAYS BK PLC | IPATH S&P500 VIX | 06746L422 | 6 | 200 | SH | | SOLE | | 200 | 0 | 0 |
INVESCO ADVANTAGE MUNICIPAL | SH BEN INT | 46132E103 | 7,283 | 640,008 | SH | | SOLE | | 640,008 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 2,710 | 231,389 | SH | | SOLE | | 231,389 | 0 | 0 |
INVESCO MUN OPPORTUNITY TR | COM | 46132C107 | 1,009 | 81,400 | SH | | SOLE | | 81,400 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 4,593 | 367,452 | SH | | SOLE | | 367,452 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 7,395 | 591,163 | SH | | SOLE | | 591,163 | 0 | 0 |
INVESCO TR INVT GRADE MUNS | COM | 46131M106 | 2,733 | 207,388 | SH | | SOLE | | 207,388 | 0 | 0 |
INVESCO VALUE MUN INCOME | COM | 46132P108 | 3,159 | 212,019 | SH | | SOLE | | 212,019 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 1,999 | 114,205 | SH | | SOLE | | 114,205 | 0 | 0 |
KKR INCOME OPPORTUNITIES FD | COM | 48249T106 | 2,276 | 141,796 | SH | | SOLE | | 141,796 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 3,985 | 580,033 | SH | | SOLE | | 580,033 | 0 | 0 |
NEUBERGER BERMAN HGH YLD FD | COM | 64128C106 | 2,761 | 234,819 | SH | | SOLE | | 234,819 | 0 | 0 |
NEUBERGER BERMAN INTER MUNI | COM | 64124P101 | 2,155 | 145,704 | SH | | SOLE | | 145,704 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 9,606 | 698,596 | SH | | SOLE | | 698,596 | 0 | 0 |
NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 | 4,823 | 312,389 | SH | | SOLE | | 312,389 | 0 | 0 |
NUVEEN ENHANCED MUN VALUE FD | COM | 67074M101 | 4,258 | 299,852 | SH | | SOLE | | 299,852 | 0 | 0 |
NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 | 717 | 42,401 | SH | | SOLE | | 42,401 | 0 | 0 |
NUVEEN INTER DURATION MN TMF | COM | 670671106 | 601 | 46,241 | SH | | SOLE | | 46,241 | 0 | 0 |
NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | 4,434 | 290,958 | SH | | SOLE | | 290,958 | 0 | 0 |
NUVEEN PFD & INCOME TERM FD | COM | 67075A106 | 1,197 | 48,346 | SH | | SOLE | | 48,346 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 8,860 | 630,132 | SH | | SOLE | | 630,132 | 0 | 0 |
NUVEEN REAL ASSET INC & GROW | COM | 67074Y105 | 970 | 54,491 | SH | | SOLE | | 54,491 | 0 | 0 |
PIMCO DYNAMIC CR INCOME FD | COM SHS | 72202D106 | 2,395 | 106,734 | SH | | SOLE | | 106,734 | 0 | 0 |
PIMCO MUNICIPAL INCOME FD | COM | 72200R107 | 314 | 24,179 | SH | | SOLE | | 24,179 | 0 | 0 |
PROSHARES TR | SHRT 20+YR TRE | 74347X849 | 87 | 4,000 | SH | | SOLE | | 4,000 | 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 | 256 | 8,480 | SH | | SOLE | | 8,480 | 0 | 0 |
PIONEER DIV HIGH INCOME TRUS | COM | 723653101 | 2,758 | 175,090 | SH | | SOLE | | 175,090 | 0 | 0 |
PIONEER HIGH INCOME TR | COM | 72369H106 | 4,005 | 412,440 | SH | | SOLE | | 412,440 | 0 | 0 |
PIONEER MUN HIGH INCOME ADV | COM | 723762100 | 1,702 | 149,680 | SH | | SOLE | | 149,680 | 0 | 0 |
PIONEER MUN HIGH INCOME TR | COM SHS | 723763108 | 5,312 | 448,298 | SH | | SOLE | | 448,298 | 0 | 0 |
PRINCIPAL REAL ESTATE INCOME | SH BEN INT | 74255X104 | 1,849 | 71,649 | SH | | SOLE | | 71,649 | 0 | 0 |
POWERSHARES ETF TR II | INSUR NATL MUN | 73936T474 | 1,575 | 91,627 | SH | | SOLE | | 91,627 | 0 | 0 |
PROSHARES TR | PSHS SHORT DOW30 | 74347R701 | 164 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PRUDENTIAL SHT DURATION HG Y | COM | 74442F107 | 673 | 45,557 | SH | | SOLE | | 45,557 | 0 | 0 |
PUTNAM MANAGED MUN INCOM TR | COM | 746823103 | 5,899 | 796,130 | SH | | SOLE | | 796,130 | 0 | 0 |
PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 | 7,193 | 582,425 | SH | | SOLE | | 582,425 | 0 | 0 |
REAVES UTIL INCOME FD | COM SH BEN INT | 756158101 | 2,769 | 89,482 | SH | | SOLE | | 89,482 | 0 | 0 |
VOYA PRIME RATE TR | SH BEN INT | 92913A100 | 995 | 196,300 | SH | | SOLE | | 196,300 | 0 | 0 |
WELLS FARGO INCOME OPPORTUNI | COM SHS | 94987B105 | 1,765 | 210,109 | SH | | SOLE | | 210,109 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 2,238 | 143,922 | SH | | SOLE | | 143,922 | 0 | 0 |
WESTERN ASSET GLB HI INCOME | COM | 95766B109 | 1,457 | 142,548 | SH | | SOLE | | 142,548 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 3,622 | 519,719 | SH | | SOLE | | 519,719 | 0 | 0 |
WESTERN ASSET HIGH INCM OPP | COM | 95766K109 | 1,090 | 214,990 | SH | | SOLE | | 214,990 | 0 | 0 |
WESTERN ASSET HGH YLD DFNDFD | COM | 95768B107 | 1,128 | 74,579 | SH | | SOLE | | 74,579 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 2,414 | 174,819 | SH | | SOLE | | 174,819 | 0 | 0 |