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 | 151 | 35,000 | SH | | SOLE | | 35,000 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 307 | 54,912 | SH | | SOLE | | 54,912 | 0 | 0 |
ALLIANCEBERNSTEIN GBL HGH IN | COM | 01879R106 | 840 | 72,774 | SH | | SOLE | | 72,774 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 9,169 | 726,523 | SH | | SOLE | | 726,523 | 0 | 0 |
ABERDEEN GLOBAL PREMIER PPTY | COM SBI | 00302L108 | 51 | 8,000 | SH | | SOLE | | 8,000 | 0 | 0 |
ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 | 2,521 | 156,652 | SH | | SOLE | | 156,652 | 0 | 0 |
BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | 1,302 | 124,479 | SH | | SOLE | | 124,479 | 0 | 0 |
BLACKROCK DEBT STRAT FD INC | COM NEW | 09255R202 | 209 | 18,705 | SH | | SOLE | | 18,705 | 0 | 0 |
BLACKROCK INVT QUALITY MUN T | COM | 09247D105 | 6,275 | 445,990 | SH | | SOLE | | 445,990 | 0 | 0 |
BLACKROCK LONG-TERM MUNI ADV | COM | 09250B103 | 333 | 29,523 | SH | | SOLE | | 29,523 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 4,367 | 330,564 | SH | | SOLE | | 330,564 | 0 | 0 |
BLACKROCK MUNIASSETS FD INC | COM | 09254J102 | 1,575 | 119,083 | SH | | SOLE | | 119,083 | 0 | 0 |
BLACKROCK MUNIENHANCED FD IN | COM | 09253Y100 | 8,634 | 819,925 | SH | | SOLE | | 819,925 | 0 | 0 |
BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 | 1,727 | 110,652 | SH | | SOLE | | 110,652 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 9,495 | 734,377 | SH | | SOLE | | 734,377 | 0 | 0 |
BLACKROCK MUNIHLDNGS QLTY II | COM | 09254C107 | 4,913 | 401,711 | SH | | SOLE | | 401,711 | 0 | 0 |
BLACKROCK MUNIVEST FD II INC | COM | 09253T101 | 715 | 51,026 | SH | | SOLE | | 51,026 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 5,417 | 618,407 | SH | | SOLE | | 618,407 | 0 | 0 |
BLACKROCK MUNIYIELD FD INC | COM | 09253W104 | 8,141 | 611,216 | SH | | SOLE | | 611,216 | 0 | 0 |
BLACKROCK MUNIYLD MICH QLTY | COM | 09254V105 | 2,870 | 218,903 | SH | | SOLE | | 218,903 | 0 | 0 |
BLACKROCK MUNIYIELD NY QLTY | COM | 09255E102 | 1,130 | 94,070 | SH | | SOLE | | 94,070 | 0 | 0 |
BLACKROCK MUNIY QUALITY FD I | COM | 09254G108 | 5,655 | 466,975 | SH | | SOLE | | 466,975 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 15,093 | 1,197,877 | SH | | SOLE | | 1,197,877 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254F100 | 3,414 | 244,412 | SH | | SOLE | | 244,412 | 0 | 0 |
BLACKROCK MUNICIPL INC QLTY | COM | 092479104 | 4,611 | 354,995 | SH | | SOLE | | 354,995 | 0 | 0 |
BLACKROCK MUNICIPAL BOND TR | COM | 09248F109 | 6,523 | 506,040 | SH | | SOLE | | 506,040 | 0 | 0 |
BLACKROCK STRATEGIC MUN TR | COM | 09248T109 | 646 | 51,195 | SH | | SOLE | | 51,195 | 0 | 0 |
BLACKSTONE GSO STRATEGIC CR | COM SHS BEN IN | 09257R101 | 3,340 | 211,233 | SH | | SOLE | | 211,233 | 0 | 0 |
BLACKSTONE GSO LNG SHRT CR I | COM SHS BN INT | 09257D102 | 157 | 9,557 | SH | | SOLE | | 9,557 | 0 | 0 |
BROOKFIELD REAL ASSETS INCOM | SH BEN INT | 112830104 | 2,268 | 99,894 | SH | | SOLE | | 99,894 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 1,600 | 119,996 | SH | | SOLE | | 119,996 | 0 | 0 |
DEUTSCHE MUN INCOME | COM | 25160C106 | 10,464 | 949,541 | SH | | SOLE | | 949,541 | 0 | 0 |
DEUTSCHE STRATEGIC MUN | COM | 25159F102 | 3,397 | 312,230 | SH | | SOLE | | 312,230 | 0 | 0 |
DOUBLELINE INCOME SOLUTIONS | COM | 258622109 | 2,239 | 111,990 | SH | | SOLE | | 111,990 | 0 | 0 |
DOUBLELINE OPPORTUNISTIC CR | COM | 258623107 | 1,729 | 82,837 | SH | | SOLE | | 82,837 | 0 | 0 |
DREYFUS MUN BD INFRSTRCTR FD | SHS | 26203D101 | 6,053 | 485,053 | SH | | SOLE | | 485,053 | 0 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 4,114 | 504,756 | SH | | SOLE | | 504,756 | 0 | 0 |
DREYFUS STRATEGIC MUN BD FD | COM | 26202F107 | 4,691 | 619,702 | SH | | SOLE | | 619,702 | 0 | 0 |
DREYFUS STRATEGIC MUNS INC | COM | 261932107 | 9,489 | 1,237,137 | SH | | SOLE | | 1,237,137 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 1,646 | 159,354 | SH | | SOLE | | 159,354 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 1,380 | 109,715 | SH | | SOLE | | 109,715 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 11,682 | 989,160 | SH | | SOLE | | 989,160 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 6,126 | 517,427 | SH | | SOLE | | 517,427 | 0 | 0 |
EATON VANCE SH TM DR DIVR IN | COM | 27828V104 | 957 | 73,484 | SH | | SOLE | | 73,484 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 3,895 | 293,747 | SH | | SOLE | | 293,747 | 0 | 0 |
FIRST TR INTER DUR PFD & IN | COM | 33718W103 | 248 | 11,500 | SH | | SOLE | | 11,500 | 0 | 0 |
FLAHERTY & CRUMRINE PFD INC | COM | 338480106 | 587 | 43,372 | SH | | SOLE | | 43,372 | 0 | 0 |
FLAHERTY & CRUMRINE PFD INC | COM | 33848E106 | 554 | 51,547 | SH | | SOLE | | 51,547 | 0 | 0 |
FLAHERTY&CRMN PFD SEC INCOM | COM | 338478100 | 2,827 | 149,415 | SH | | SOLE | | 149,415 | 0 | 0 |
FLAHERTY & CRUMRINE TOTAL RE | COM | 338479108 | 453 | 23,235 | SH | | SOLE | | 23,235 | 0 | 0 |
INVESCO ADVANTAGE MUNICIPAL | SH BEN INT | 46132E103 | 7,508 | 704,309 | SH | | SOLE | | 704,309 | 0 | 0 |
INVESCO DYNAMIC CR OPP FD | COM | 46132R104 | 1,676 | 144,194 | SH | | SOLE | | 144,194 | 0 | 0 |
INVESCO MUN OPPORTUNITY TR | COM | 46132C107 | 6,892 | 587,076 | SH | | SOLE | | 587,076 | 0 | 0 |
INVESCO MUN TR | COM | 46131J103 | 5,562 | 470,577 | SH | | SOLE | | 470,577 | 0 | 0 |
INVESCO PA VALUE MUN INCOME | COM | 46132K109 | 1,291 | 107,839 | SH | | SOLE | | 107,839 | 0 | 0 |
INVESCO QUALITY MUNI INC TRS | COM | 46133G107 | 7,937 | 665,880 | SH | | SOLE | | 665,880 | 0 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 656 | 153,231 | SH | | SOLE | | 153,231 | 0 | 0 |
INVESCO TR INVT GRADE MUNS | COM | 46131M106 | 3,902 | 315,410 | SH | | SOLE | | 315,410 | 0 | 0 |
INVESCO VALUE MUN INCOME TR | COM | 46132P108 | 3,620 | 256,161 | SH | | SOLE | | 256,161 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 1,250 | 78,306 | SH | | SOLE | | 78,306 | 0 | 0 |
KKR INCOME OPPORTUNITIES FD | COM | 48249T106 | 3,158 | 190,696 | SH | | SOLE | | 190,696 | 0 | 0 |
KAYNE ANDERSON MLP INVT CO | COM | 486606106 | 57 | 3,000 | SH | | SOLE | | 3,000 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 3,166 | 480,360 | SH | | SOLE | | 480,360 | 0 | 0 |
NEUBERGER BERMAN HGH YLD FD | COM | 64128C106 | 3,128 | 289,112 | SH | | SOLE | | 289,112 | 0 | 0 |
NEUBERGER BERMAN INTER MUNI | COM | 64124P101 | 4,401 | 322,857 | SH | | SOLE | | 322,857 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 9,753 | 749,634 | SH | | SOLE | | 749,634 | 0 | 0 |
NUVEEN CA QUALTY MUN INCOME | COM | 67066Y105 | 4,862 | 363,937 | SH | | SOLE | | 363,937 | 0 | 0 |
NUVEEN CR STRATEGIES INCM FD | COM SHS | 67073D102 | 767 | 96,480 | SH | | SOLE | | 96,480 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 843 | 80,953 | SH | | SOLE | | 80,953 | 0 | 0 |
NUVEEN MUN HIGH INCOME OPP F | COM | 670682103 | 4,528 | 357,361 | SH | | SOLE | | 357,361 | 0 | 0 |
NUVEEN NEW JERSEY QULT MUN F | COM | 67069Y102 | 4,060 | 311,141 | SH | | SOLE | | 311,141 | 0 | 0 |
NUVEEN NEW YORK AMT QLT MUNI | COM | 670656107 | 1,279 | 104,575 | SH | | SOLE | | 104,575 | 0 | 0 |
NUVEEN OHIO QLTY MUN INCOME | COM | 670980101 | 641 | 46,103 | SH | | SOLE | | 46,103 | 0 | 0 |
NUVEEN PENNSYLVANIA QLT MUN | COM | 670972108 | 2,205 | 174,612 | SH | | SOLE | | 174,612 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 14,985 | 1,126,710 | SH | | SOLE | | 1,126,710 | 0 | 0 |
NUVEEN REAL ASSET INM AND GW | COM | 67074Y105 | 881 | 54,491 | SH | | SOLE | | 54,491 | 0 | 0 |
NUVEEN TEXAS QLTY MUN INCME | COM | 670983105 | 578 | 45,200 | SH | | SOLE | | 45,200 | 0 | 0 |
PIMCO DYNAMIC CR INCOME FD | COM SHS | 72202D106 | 3,279 | 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 | 249 | 8,480 | SH | | SOLE | | 8,480 | 0 | 0 |
PIONEER DIV HIGH INCOME TRUS | COM | 723653101 | 2,920 | 200,385 | SH | | SOLE | | 200,385 | 0 | 0 |
PIONEER HIGH INCOME TR | COM | 72369H106 | 3,885 | 418,240 | SH | | SOLE | | 418,240 | 0 | 0 |
PIONEER MUN HIGH INCOME ADV | COM | 723762100 | 3,289 | 300,350 | SH | | SOLE | | 300,350 | 0 | 0 |
PIONEER MUN HIGH INCOME TR | COM SHS | 723763108 | 5,631 | 493,042 | SH | | SOLE | | 493,042 | 0 | 0 |
PRINCIPAL REAL ESTATE INCOME | SH BEN INT | 74255X104 | 2,179 | 122,759 | SH | | SOLE | | 122,759 | 0 | 0 |
PROSHARES TR | PSHS SHORT DOW30 | 74347B235 | 165 | 2,750 | SH | | SOLE | | 2,750 | 0 | 0 |
PGIM SHORT DURATION HIGH YIE | COM | 69346H100 | 3,185 | 227,514 | SH | | SOLE | | 227,514 | 0 | 0 |
PUTNAM MANAGED MUN INCOM TR | COM | 746823103 | 8,273 | 1,168,464 | SH | | SOLE | | 1,168,464 | 0 | 0 |
PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 | 7,140 | 611,271 | SH | | SOLE | | 611,271 | 0 | 0 |
REAVES UTIL INCOME FD | COM SH BEN INT | 756158101 | 2,552 | 88,282 | SH | | SOLE | | 88,282 | 0 | 0 |
VANECK VECTORS ETF TR | HIGH YLD MUN ETF | 92189F361 | 3,023 | 96,047 | SH | | SOLE | | 96,047 | 0 | 0 |
WELLS FARGO INCOME OPPORTUNI | COM SHS | 94987B105 | 1,679 | 210,109 | SH | | SOLE | | 210,109 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 789 | 59,422 | SH | | SOLE | | 59,422 | 0 | 0 |
WESTERN ASSET GLB HI INCOME | COM | 95766B109 | 366 | 40,099 | SH | | SOLE | | 40,099 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 3,678 | 571,068 | SH | | SOLE | | 571,068 | 0 | 0 |
WESTERN ASSET HIGH INCM OPP | COM | 95766K109 | 96 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
WESTERN ASSET INTM MUNI FD I | COM | 958435109 | 1,791 | 206,550 | SH | | SOLE | | 206,550 | 0 | 0 |
WESTERN ASST MNGD MUN FD INC | COM | 95766M105 | 2,123 | 167,458 | SH | | SOLE | | 167,458 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 2,483 | 197,088 | SH | | SOLE | | 197,088 | 0 | 0 |