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 | 165 | 35,000 | SH | | SOLE | | 35,000 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 383 | 69,192 | SH | | SOLE | | 69,192 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 8,740 | 698,680 | SH | | SOLE | | 698,680 | 0 | 0 |
ALLIANZGI CONV & INCOME FD I | COM | 018825109 | 818 | 139,269 | SH | | SOLE | | 139,269 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 181 | 29,000 | SH | | SOLE | | 29,000 | 0 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 2,534 | 155,952 | SH | | SOLE | | 155,952 | 0 | 0 |
BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | 1,559 | 147,479 | SH | | SOLE | | 147,479 | 0 | 0 |
BLACKROCK INVT QUALITY MUN T | COM | 09247D105 | 6,119 | 445,990 | SH | | SOLE | | 445,990 | 0 | 0 |
BLACKROCK LONG-TERM MUNI ADV | COM | 09250B103 | 1,641 | 145,193 | SH | | SOLE | | 145,193 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 4,389 | 335,264 | SH | | SOLE | | 335,264 | 0 | 0 |
BLACKROCK MUNIENHANCED FD IN | COM | 09253Y100 | 8,708 | 819,925 | SH | | SOLE | | 819,925 | 0 | 0 |
BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 | 890 | 58,607 | SH | | SOLE | | 58,607 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 1,730 | 132,851 | SH | | SOLE | | 132,851 | 0 | 0 |
BLACKROCK MUNIHLDNGS QLTY II | COM | 09254C107 | 1,316 | 107,899 | SH | | SOLE | | 107,899 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 526 | 59,779 | SH | | SOLE | | 59,779 | 0 | 0 |
BLACKROCK MUNIYIELD FD INC | COM | 09253W104 | 1,297 | 97,044 | SH | | SOLE | | 97,044 | 0 | 0 |
BLACKROCK MUNIYLD MICH QLTY | COM | 09254V105 | 2,154 | 162,697 | SH | | SOLE | | 162,697 | 0 | 0 |
BLACKROCK MUNIYIELD NY QLTY | COM | 09255E102 | 1,012 | 84,048 | SH | | SOLE | | 84,048 | 0 | 0 |
BLACKROCK MUNIY QUALITY FD I | COM | 09254G108 | 5,632 | 466,975 | SH | | SOLE | | 466,975 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 15,145 | 1,204,874 | SH | | SOLE | | 1,204,874 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254F100 | 2,993 | 214,578 | SH | | SOLE | | 214,578 | 0 | 0 |
BLACKROCK MUNICIPAL BOND TR | COM | 09249H104 | 646 | 45,111 | SH | | SOLE | | 45,111 | 0 | 0 |
BLACKROCK MUNICIPL INC QLTY | COM | 092479104 | 3,561 | 272,211 | SH | | SOLE | | 272,211 | 0 | 0 |
BLACKROCK MUNICIPAL BOND TR | COM | 09248F109 | 3,121 | 242,665 | SH | | SOLE | | 242,665 | 0 | 0 |
BLACKROCK MUNI INCOME TR II | COM | 09249N101 | 1,041 | 77,651 | SH | | SOLE | | 77,651 | 0 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 2,277 | 143,283 | SH | | SOLE | | 143,283 | 0 | 0 |
BLACKSTONE GSO LNG SHRT CR I | COM SHS BN INT | 09257D102 | 2,151 | 132,308 | SH | | SOLE | | 132,308 | 0 | 0 |
BROOKFIELD REAL ASSETS INCOM | SH BEN INT | 112830104 | 2,168 | 99,894 | SH | | SOLE | | 99,894 | 0 | 0 |
CALAMOS DYNAMIC CONV & INCOM | COM | 12811V105 | 62 | 3,189 | SH | | SOLE | | 3,189 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 1,762 | 132,396 | SH | | SOLE | | 132,396 | 0 | 0 |
DEUTSCHE MUN INCOME | COM | 25160C106 | 10,140 | 903,774 | SH | | SOLE | | 903,774 | 0 | 0 |
DEUTSCHE STRATEGIC MUN | COM | 25159F102 | 3,431 | 312,230 | SH | | SOLE | | 312,230 | 0 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 3,282 | 164,197 | SH | | SOLE | | 164,197 | 0 | 0 |
DOUBLELINE OPPORTUNISTIC CR | COM | 258623107 | 1,785 | 82,837 | SH | | SOLE | | 82,837 | 0 | 0 |
DREYFUS MUN BD INFRSTRCTR FD | SHS | 26203D101 | 6,446 | 524,954 | SH | | SOLE | | 524,954 | 0 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 3,462 | 433,304 | SH | | SOLE | | 433,304 | 0 | 0 |
DREYFUS STRATEGIC MUN BD FD | COM | 26202F107 | 4,035 | 533,026 | SH | | SOLE | | 533,026 | 0 | 0 |
DREYFUS STRATEGIC MUNS INC | COM | 261932107 | 6,296 | 821,890 | SH | | SOLE | | 821,890 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 987 | 96,454 | SH | | SOLE | | 96,454 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 2,724 | 210,040 | SH | | SOLE | | 210,040 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 9,198 | 779,492 | SH | | SOLE | | 779,492 | 0 | 0 |
EATON VANCE MUN BD FD II | COM | 27827K109 | 2,568 | 220,970 | SH | | SOLE | | 220,970 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 7,725 | 665,950 | SH | | SOLE | | 665,950 | 0 | 0 |
EATON VANCE NATL MUN OPPORT | COM SHS | 27829L105 | 52 | 2,496 | SH | | SOLE | | 2,496 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 4,263 | 318,640 | SH | | SOLE | | 318,640 | 0 | 0 |
FLAHERTY & CRUMRINE PFD INC | COM | 338480106 | 95 | 7,000 | SH | | SOLE | | 7,000 | 0 | 0 |
FLAHERTY&CRMN PFD SEC INCOM | COM | 338478100 | 2,578 | 136,890 | SH | | SOLE | | 136,890 | 0 | 0 |
INVESCO ADVANTAGE MUNICIPAL | SH BEN INT | 46132E103 | 6,366 | 597,765 | SH | | SOLE | | 597,765 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 2,698 | 231,389 | SH | | SOLE | | 231,389 | 0 | 0 |
INVESCO MUN OPPORTUNITY TR | COM | 46132C107 | 6,910 | 589,076 | SH | | SOLE | | 589,076 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 5,615 | 480,743 | SH | | SOLE | | 480,743 | 0 | 0 |
INVESCO PA VALUE MUN INCOME | COM | 46132K109 | 1,314 | 112,098 | SH | | SOLE | | 112,098 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 7,916 | 665,880 | SH | | SOLE | | 665,880 | 0 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 288 | 65,265 | SH | | SOLE | | 65,265 | 0 | 0 |
INVESCO TR INVT GRADE MUNS | COM | 46131M106 | 3,839 | 315,220 | SH | | SOLE | | 315,220 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 1,457 | 87,810 | SH | | SOLE | | 87,810 | 0 | 0 |
KKR INCOME OPPORTUNITIES FD | COM | 48249T106 | 3,085 | 193,546 | SH | | SOLE | | 193,546 | 0 | 0 |
KAYNE ANDERSON MLP INVT CO | COM | 486606106 | 81 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 4,050 | 616,417 | SH | | SOLE | | 616,417 | 0 | 0 |
NEUBERGER BERMAN HGH YLD FD | COM | 64128C106 | 2,599 | 234,819 | SH | | SOLE | | 234,819 | 0 | 0 |
NEUBERGER BERMAN INTER MUNI | COM | 64124P101 | 3,427 | 248,715 | SH | | SOLE | | 248,715 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 13,916 | 1,076,255 | SH | | SOLE | | 1,076,255 | 0 | 0 |
NUVEEN CA QUALTY MUN INCOME | COM | 67066Y105 | 4,294 | 320,655 | SH | | SOLE | | 320,655 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 765 | 96,480 | SH | | SOLE | | 96,480 | 0 | 0 |
NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 | 6,549 | 453,835 | SH | | SOLE | | 453,835 | 0 | 0 |
NUVEEN ENHANCED MUN VALUE FD | COM | 67074M101 | 4,403 | 329,072 | SH | | SOLE | | 329,072 | 0 | 0 |
NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | 8,828 | 626,085 | SH | | SOLE | | 626,085 | 0 | 0 |
NUVEEN NEW JERSEY QULT MUN F | COM | 67069Y102 | 4,057 | 311,141 | SH | | SOLE | | 311,141 | 0 | 0 |
NUVEEN NEW YORK AMT QLT MUNI | COM | 670656107 | 827 | 68,155 | SH | | SOLE | | 68,155 | 0 | 0 |
NUVEEN OHIO QLTY MUN INCOME | COM | 670980101 | 701 | 51,103 | SH | | SOLE | | 51,103 | 0 | 0 |
NUVEEN PENNSYLVANIA QLT MUN | COM | 670972108 | 2,326 | 186,112 | SH | | SOLE | | 186,112 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 16,409 | 1,258,365 | SH | | SOLE | | 1,258,365 | 0 | 0 |
NUVEEN REAL ASSET INM AND GW | COM | 67074Y105 | 885 | 54,491 | SH | | SOLE | | 54,491 | 0 | 0 |
NUVEEN TEXAS QLTY MUN INCME | COM | 670983105 | 593 | 45,300 | SH | | SOLE | | 45,300 | 0 | 0 |
PIMCO DYNAMIC CR INCOME FD | COM SHS | 72202D106 | 3,199 | 139,107 | SH | | SOLE | | 139,107 | 0 | 0 |
PROSHARES TR | SHRT 20+YR TRE | 74347X849 | 91 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
PROSHARES TR | SHT 7-10 YR TR | 74348A608 | 116 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
PROSHARES TR | SHORT S&P 500 NE | 74347B425 | 259 | 8,480 | SH | | SOLE | | 8,480 | 0 | 0 |
PIONEER DIV HIGH INCOME TRUS | COM | 723653101 | 2,983 | 199,685 | SH | | SOLE | | 199,685 | 0 | 0 |
PIONEER HIGH INCOME TR | COM | 72369H106 | 3,919 | 418,240 | SH | | SOLE | | 418,240 | 0 | 0 |
PIONEER MUN HIGH INCOME ADV | COM | 723762100 | 3,211 | 300,350 | SH | | SOLE | | 300,350 | 0 | 0 |
PIONEER MUN HIGH INCOME TR | COM SHS | 723763108 | 7,087 | 629,424 | SH | | SOLE | | 629,424 | 0 | 0 |
PRINCIPAL REAL ESTATE INCOME | SH BEN INT | 74255X104 | 2,050 | 122,759 | SH | | SOLE | | 122,759 | 0 | 0 |
PROSHARES TR | PSHS SHORT DOW30 | 74347R701 | 167 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PRUDENTIAL SHT DURATION HG Y | COM | 74442F107 | 1,373 | 96,911 | SH | | SOLE | | 96,911 | 0 | 0 |
PUTNAM MANAGED MUN INCOM TR | COM | 746823103 | 8,066 | 1,139,267 | SH | | SOLE | | 1,139,267 | 0 | 0 |
PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 | 6,523 | 561,399 | SH | | SOLE | | 561,399 | 0 | 0 |
REAVES UTIL INCOME FD | COM SH BEN INT | 756158101 | 2,501 | 89,482 | SH | | SOLE | | 89,482 | 0 | 0 |
WELLS FARGO INCOME OPPORTUNI | COM SHS | 94987B105 | 1,689 | 210,109 | SH | | SOLE | | 210,109 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 1,824 | 126,022 | SH | | SOLE | | 126,022 | 0 | 0 |
WESTERN ASSET GLB HI INCOME | COM | 95766B109 | 1,337 | 142,548 | SH | | SOLE | | 142,548 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 3,740 | 571,068 | SH | | SOLE | | 571,068 | 0 | 0 |
WESTERN ASSET HIGH INCM OPP | COM | 95766K109 | 979 | 203,590 | SH | | SOLE | | 203,590 | 0 | 0 |
WESTERN ASSET INTM MUNI FD I | COM | 958435109 | 1,178 | 136,286 | SH | | SOLE | | 136,286 | 0 | 0 |
WESTERN ASST MNGD MUN FD INC | COM | 95766M105 | 566 | 43,825 | SH | | SOLE | | 43,825 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 2,385 | 185,855 | SH | | SOLE | | 185,855 | 0 | 0 |