The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
FEDERATED PREM INTR MUN INC COM 31423M105 676 53,000 PRN   DFND   0 53,000 0
ZWEIG TOTAL RETURN FD INC COM NEW 989837208 743 53,013 PRN   DFND   0 53,013 0
NUVEEN SELECT TAX FREE INCM SH BEN INT 67062F100 770 54,014 PRN   DFND   0 54,014 0
ROYAL GOLD INC NOTE 2.875% 6/1 780287AA6 4,355 4,214,000 PRN   DFND   0 4,214,000 0
APPLE INC COM 037833100 362 3,283 SH   DFND   0 3,283 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 403 5,287 SH   DFND   0 5,287 0
DTE ENERGY CO COM 233331107 618 7,159 SH   DFND   0 7,159 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,101 7,330 SH   DFND   0 7,330 0
PROCTER & GAMBLE CO COM 742718109 716 7,864 SH   DFND   0 7,864 0
PFIZER INC COM 717081103 249 7,984 SH   DFND   0 7,984 0
CONSOLIDATED EDISON INC COM 209115104 551 8,343 SH   DFND   0 8,343 0
FORD MTR CO DEL COM PAR $0.01 345370860 175 11,279 SH   DFND   0 11,279 0
AEGON N V NY REGISTRY SH 007924103 86 11,462 SH   DFND   0 11,462 0
CALAMOS STRATEGIC TOTL RETN COM SH BEN INT 128125101 133 11,626 SH   DFND   0 11,626 0
COLGATE PALMOLIVE CO COM 194162103 844 12,200 SH   DFND   0 12,200 0
CBRE CLARION GLOBAL REAL EST COM 12504G100 116 12,906 SH   DFND   0 12,906 0
TEMPLETON RUS AND EAST EUR F COM 88022F105 123 13,697 SH   DFND   0 13,697 0
FIRST FED NORTHN MICH BANCOR COM 32021X105 75 13,721 SH   DFND   0 13,721 0
MAINSTAY DEFINEDTERM MN OPP COM 56064K100 260 14,300 SH   DFND   0 14,300 0
NUVEEN PFD INCOME OPPRTNY FD COM 67073B106 169 17,725 SH   DFND   0 17,725 0
BOULDER TOTAL RETURN FD INC COM 101541100 531 19,143 SH   DFND   0 19,143 0
NUVEEN QUALITY PFD INCOME FD COM 67071S101 162 20,089 SH   DFND   0 20,089 0
MORGAN STANLEY ASIA PAC FD I COM 61744U106 300 20,235 SH   DFND   0 20,235 0
BLACKROCK UTIL & INFRASTRCTU COM 09248D104 437 21,071 SH   DFND   0 21,071 0
ZWEIG FD COM NEW 989834205 333 21,535 SH   DFND   0 21,535 0
MORGAN STANLEY EMER MKTS FD COM 61744G107 318 21,883 SH   DFND   0 21,883 0
BLACKROCK GLOBAL OPP EQTY TR COM 092501105 313 23,810 SH   DFND   0 23,810 0
FASTENAL CO COM 311900104 1,238 26,026 SH   DFND   0 26,026 0
BLACKROCK LTD DURATION INC T COM SHS 09249W101 462 29,393 SH   DFND   0 29,393 0
NORTHEAST UTILS COM 664397106 1,598 29,860 SH   DFND   0 29,860 0
TEMPLETON DRAGON FD INC COM 88018T101 759 31,571 SH   DFND   0 31,571 0
EATON VANCE MI MUNI INCOME T SH BEN INT 27826D106 431 33,900 SH   DFND   0 33,900 0
BIRNER DENTAL MGMT SERVICES COM NEW 091283200 511 34,080 SH   DFND   0 34,080 0
NUVEEN SELECT TAX FREE INCM SH BEN INT 67063C106 474 34,877 SH   DFND   0 34,877 0
FEDERATED ENHANC TREAS INCM COM SH BEN INT 314162108 508 38,105 SH   DFND   0 38,105 0
VIRTUS TOTAL RETURN FD COM 92829A103 204 45,155 SH   DFND   0 45,155 0
COFFEE HLDGS INC COM 192176105 238 46,457 SH   DFND   0 46,457 0
ROYCE MICRO-CAP TR INC COM 780915104 482 47,781 SH   DFND   0 47,781 0
BANCROFT FUND LTD COM 059695106 1,010 50,339 SH   DFND   0 50,339 0
SPECIAL OPPORTUNITIES FD INC COM 84741T104 874 56,871 SH   DFND   0 56,871 0
TERADATA CORP DEL COM 88076W103 2,499 57,202 SH   DFND   0 57,202 0
WESCO AIRCRAFT HLDGS INC COM 950814103 820 58,625 SH   DFND   0 58,625 0
COHEN & STEERS INFRASTRUCTUR COM 19248A109 1,366 60,113 SH   DFND   0 60,113 0
NUVEEN SELECT TAX FREE INCM SH BEN INT 67063X100 916 64,300 SH   DFND   0 64,300 0
CUTWATER SELECT INCOME FD COM 232229104 1,349 69,759 SH   DFND   0 69,759 0
DELAWARE INVT NAT MUNI INC F SH BEN INT 24610T108 931 71,138 SH   DFND   0 71,138 0
MORGAN STANLEY TRUSTS INCOME SECS INC 61745P874 1,305 72,787 SH   DFND   0 72,787 0
WESTERN ASSET WORLDWIDE INCO COM 957668106 871 76,304 SH   DFND   0 76,304 0
MFS INTERMARKET INCOME TRUST SH BEN INT 59318R103 650 77,908 SH   DFND   0 77,908 0
FIRST TR INTER DUR PFD & IN COM 33718W103 1,814 79,869 SH   DFND   0 79,869 0
INVESCO BD FD COM 46132L107 1,497 81,370 SH   DFND   0 81,370 0
MADISON CVRED CALL & EQ STR COM 557437100 685 84,150 SH   DFND   0 84,150 0
DREYFUS MUN BD INFRSTRCTR FD SHS 26203D101 1,031 84,728 SH   DFND   0 84,728 0
LEGG MASON BW GLB INC OPP FD COM 52469B100 1,436 85,966 SH   DFND   0 85,966 0
BLACKROCK CORE BD TR SHS BEN INT 09249E101 1,166 88,332 SH   DFND   0 88,332 0
BLACKROCK FLOATING RATE INCO COM 091941104 1,150 89,490 SH   DFND   0 89,490 0
WESTERN ASST MN PRT FD INC COM 95766P108 1,382 93,162 SH   DFND   0 93,162 0
EATON VANCE NATL MUN OPPORT COM SHS 27829L105 2,031 96,691 SH   DFND   0 96,691 0
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 1,689 97,919 SH   DFND   0 97,919 0
MFS INVT GRADE MUN TR SH BEN INT 59318B108 982 104,800 SH   DFND   0 104,800 0
DEUTSCHE STRATEGIC INCOME TR SHS 25160F109 1,287 111,367 SH   DFND   0 111,367 0
EATON VANCE SH TM DR DIVR IN COM 27828V104 1,590 112,389 SH   DFND   0 112,389 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 998 124,178 SH   DFND   0 124,178 0
EATON VANCE MUN INCOME TERM SHS 27829U105 2,180 124,500 SH   DFND   0 124,500 0
SASOL LTD SPONSORED ADR 803866300 4,751 125,130 SH   DFND   0 125,130 0
VOYA PRIME RATE TR SH BEN INT 92913A100 666 125,463 SH   DFND   0 125,463 0
LIFE TIME FITNESS INC COM 53217R207 7,453 131,635 SH   DFND   0 131,635 0
DOVER SADDLERY INC COM 260412101 653 134,703 SH   DFND   0 134,703 0
NUVEEN INT DUR QUAL MUN TRM COM 670677103 1,755 138,710 SH   DFND   0 138,710 0
BLACKROCK MUN TARGET TERM TR COM SHS BEN IN 09257P105 2,885 143,600 SH   DFND   0 143,600 0
AT&T INC COM 00206R102 4,956 147,544 SH   DFND   0 147,544 0
PIONEER FLOATING RATE TR COM 72369J102 1,681 147,729 SH   DFND   0 147,729 0
BLACKROCK INCOME TR INC COM 09247F100 968 151,281 SH   DFND   0 151,281 0
INVESCO TR INVT GRADE MUNS COM 46131M106 2,060 155,000 SH   DFND   0 155,000 0
FORT DEARBORN INCOME SECS IN COM 347200107 2,354 166,477 SH   DFND   0 166,477 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 5,983 175,085 SH   DFND   0 175,085 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 2,084 175,888 SH   DFND   0 175,888 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 2,539 176,286 SH   DFND   0 176,286 0
LEAPFROG ENTERPRISES INC CL A 52186N106 907 192,100 SH   DFND   0 192,100 0
INVESCO QUALITY MUNI INC TRS COM 46133G107 2,443 195,600 SH   DFND   0 195,600 0
GDL FUND COM SH BEN IT 361570104 2,058 201,176 SH   DFND   0 201,176 0
FRANKLIN LTD DURATION INC TR COM 35472T101 2,625 215,304 SH   DFND   0 215,304 0
TIVO INC COM 888706108 2,710 228,915 SH   DFND   0 228,915 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 2,839 236,745 SH   DFND   0 236,745 0
CHAMBERS STR PPTYS COM 157842105 2,053 254,774 SH   DFND   0 254,774 0
TEMPLETON GLOBAL INCOME FD COM 880198106 1,990 276,820 SH   DFND   0 276,820 0
SILVER WHEATON CORP COM 828336107 5,852 287,845 SH   DFND   0 287,845 0
NUVEEN INTER DURATION MN TMF COM 670671106 3,730 298,378 SH   DFND   0 298,378 0
LEXINGTON REALTY TRUST COM 529043101 3,637 331,245 SH   DFND   0 331,245 0
WESTERN ASSET GLOBAL CP DEFI COM 95790C107 6,417 360,884 SH   DFND   0 360,884 0
DOMINION DIAMOND CORP COM 257287102 6,546 364,500 SH   DFND   0 364,500 0
COHEN & STEERS CLOSED END OP COM 19248P106 4,931 374,858 SH   DFND   0 374,858 0
HANCOCK JOHN PREMUIM DIV FD COM SH BEN INT 41013T105 5,460 397,060 SH   DFND   0 397,060 0
MEDICAL PPTYS TRUST INC COM 58463J304 5,596 406,117 SH   DFND   0 406,117 0
MONTGOMERY STR INCOME SECS I COM 614115103 7,080 430,726 SH   DFND   0 430,726 0
WESTERN ASSET CLYM INFL SEC COM SH BEN INT 95766Q106 6,122 527,796 SH   DFND   0 527,796 0
RCS CAP CORP COM CL A 74937W102 6,912 564,700 SH   DFND   0 564,700 0
STRATEGIC GLOBAL INCOME FD COM 862719101 4,805 566,571 SH   DFND   0 566,571 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 4,986 568,565 SH   DFND   0 568,565 0
WELLS FARGO ADVANTAGE MULTI COM SHS 94987D101 8,048 590,450 SH   DFND   0 590,450 0
JANUS CAP GROUP INC COM 47102X105 10,085 625,220 SH   DFND   0 625,220 0
COTT CORP QUE COM 22163N106 5,464 794,238 SH   DFND   0 794,238 0
NUVEEN QUALITY PFD INC FD 3 COM 67072W101 7,338 880,876 SH   DFND   0 880,876 0
HARRIS & HARRIS GROUP INC COM 413833104 2,703 916,177 SH   DFND   0 916,177 0
CINEDIGM CORP COM 172406100 1,538 949,431 SH   DFND   0 949,431 0
BLACKROCK CR ALLCTN INC TR COM 092508100 15,028 1,163,121 SH   DFND   0 1,163,121 0
ALLIANCEBERNSTEIN INCOME FUN COM 01881E101 9,062 1,213,086 SH   DFND   0 1,213,086 0
FRANKLIN UNVL TR SH BEN INT 355145103 8,928 1,257,476 SH   DFND   0 1,257,476 0
MFS INTER INCOME TR SH BEN INT 55273C107 6,069 1,269,700 SH   DFND   0 1,269,700 0
GAMCO GLOBAL GOLD NAT RES & COM SH BEN INT 36465A109 9,772 1,395,932 SH   DFND   0 1,395,932 0
MFS MULTIMARKET INCOME TR SH BEN INT 552737108 10,262 1,578,702 SH   DFND   0 1,578,702 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 15,418 1,703,665 SH   DFND   0 1,703,665 0
GAIAM INC CL A 36268Q103 12,541 1,758,970 SH   DFND   0 1,758,970 0
BLACKROCK RES & COMM STRAT T SHS 09257A108 17,449 1,796,997 SH   DFND   0 1,796,997 0
U S GLOBAL INVS INC CL A 902952100 7,866 2,537,531 SH   DFND   0 2,537,531 0
B2GOLD CORP COM 11777Q209 4,736 2,923,675 SH   DFND   0 2,923,675 0
WESTERN ASSET CLYM INFL OPP COM 95766R104 39,237 3,472,304 SH   DFND   0 3,472,304 0