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
ABERDEEN ASIA PACIFIC INCOM COM 003009107 8,085 1,769,098 SH   SOLE   1,769,098 0 0
ADVANCED MICRO DEVICES INC COM 007903107 237 82,700 SH Put SOLE   82,700 0 0
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 3,982 481,443 SH   SOLE   481,443 0 0
ALLIANCEBERNSTEIN GBL HGH IN COM 01879R106 5,199 482,245 SH   SOLE   482,245 0 0
ANADARKO PETE CORP COM 032511107 33,773 695,200 SH Put SOLE   695,200 0 0
ANADARKO PETE CORP COM 032511107 3,984 82,000 SH   SOLE   82,000 0 0
APOLLO TACTICAL INCOME FD IN COM 037638103 2,555 183,965 SH   SOLE   183,965 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 20,614 1,794,100 SH Put SOLE   1,794,100 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 2,476 215,510 SH   SOLE   215,510 0 0
BLACKROCK CORPOR HI YLD FD I COM 09255P107 48,481 4,957,128 SH   SOLE   4,957,128 0 0
BLACKROCK CR ALLCTN INC TR COM 092508100 7,713 625,032 SH   SOLE   625,032 0 0
BLACKROCK DEBT STRAT FD INC COM 09255R103 56,983 16,908,864 SH   SOLE   16,908,864 0 0
BLACKROCK LTD DURATION INC T COM SHS 09249W101 278 19,085 SH   SOLE   19,085 0 0
BLACKROCK MULTI-SECTOR INC T COM 09258A107 21,461 1,357,459 SH   SOLE   1,357,459 0 0
BLACKSTONE GSO LNG SHRT CR I COM SHS BN INT 09257D102 8,709 646,090 SH   SOLE   646,090 0 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257R101 33,434 2,500,662 SH   SOLE   2,500,662 0 0
BROOKFIELD MTG OPP INC FD IN COM 112792106 9,937 673,696 SH   SOLE   673,696 0 0
BROOKFIELD TOTAL RETURN FD I COM 11283U108 2,799 127,510 SH   SOLE   127,510 0 0
CENTURYLINK INC COM 156700106 53,279 2,117,600 SH Put SOLE   2,117,600 0 0
CENTURYLINK INC COM 156700106 1,023 40,648 SH   SOLE   40,648 0 0
CHESAPEAKE ENERGY CORP COM 165167107 6,390 1,420,000 SH Put SOLE   1,420,000 0 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 283 27,143 SH   SOLE   27,143 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 99/99/9999 203668116 7 795,108 SH   SOLE   795,108 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 9,582 3,446,796 SH   SOLE   3,446,796 0 0
DELAWARE ENHANCED GBL DIV & COM 246060107 145 15,555 SH   SOLE   15,555 0 0
DELAWARE INVTS DIV & INCOME COM 245915103 1,771 200,830 SH   SOLE   200,830 0 0
DEUTSCHE GLOBAL HIGH INCOME COM 25158V108 1,890 250,361 SH   SOLE   250,361 0 0
DEUTSCHE HIGH INCOME OPPORT COM 25158Y102 24,537 1,878,803 SH   SOLE   1,878,803 0 0
DEUTSCHE HIGH INCOME TR SHS 25155R100 17,401 2,188,791 SH   SOLE   2,188,791 0 0
DEUTSCHE MULTI-MKT INCOME TR SHS 25160E102 13,317 1,743,029 SH   SOLE   1,743,029 0 0
DEUTSCHE STRATEGIC INCOME TR SHS 25160F109 3,835 364,934 SH   SOLE   364,934 0 0
DEVON ENERGY CORP NEW COM 25179M103 27,315 853,600 SH Put SOLE   853,600 0 0
DEVON ENERGY CORP NEW COM 25179M103 2,054 64,200 SH   SOLE   64,200 0 0
DYNEGY INC NEW DEL *W EXP 10/02/201 26817R116 344 731,344 SH   SOLE   731,344 0 0
EATON VANCE SH TM DR DIVR IN COM 27828V104 13,318 993,166 SH   SOLE   993,166 0 0
FIRST TR HIGH INCOME L/S FD COM 33738E109 3,912 277,830 SH   SOLE   277,830 0 0
FIRST TRUST MORTGAGE INCM FD COM SHS 33734E103 589 40,521 SH   SOLE   40,521 0 0
FRANKLIN LTD DURATION INC TR COM 35472T101 26,013 2,426,544 SH   SOLE   2,426,544 0 0
FREEPORT-MCMORAN INC CL B 35671D857 22,492 3,322,300 SH Put SOLE   3,322,300 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 44,452 9,518,600 SH Put SOLE   9,518,600 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 4,051 867,558 SH   SOLE   867,558 0 0
GENWORTH FINL INC COM CL A 37247D106 4,929 1,321,500 SH Put SOLE   1,321,500 0 0
GENWORTH FINL INC COM CL A 37247D106 3,176 851,358 SH   SOLE   851,358 0 0
GLOBAL HIGH INCOME FUND INC COM 37933G108 9,548 1,123,257 SH   SOLE   1,123,257 0 0
HCP INC COM 40414L109 3,654 95,542 SH   SOLE   95,542 0 0
INTERVAL LEISURE GROUP INC COM 46113M108 532 34,053 SH   SOLE   34,053 0 0
INVESCO HIGH INCOME TR II COM 46131F101 4,626 360,000 SH   SOLE   360,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 747 6,549 SH   SOLE   6,549 0 0
ISHARES TR A RATE CP BD ETF 46429B291 1,148 22,687 SH   SOLE   22,687 0 0
ISHARES TR 1-3 YR CR BD ETF 464288646 1,323 12,651 SH   SOLE   12,651 0 0
ISHARES TR INTERM CR BD ETF 464288638 697 6,493 SH   SOLE   6,493 0 0
ISHARES TR JP MOR EM MK ETF 464288281 262 2,473 SH   SOLE   2,473 0 0
ISHARES TR IBOXX HI YD ETF 464288513 839 10,414 SH   SOLE   10,414 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 22,581 639,864 SH   SOLE   639,864 0 0
IVY HIGH INC OPPORTUNITIES F COM 465893105 1,344 108,600 SH   SOLE   108,600 0 0
KATE SPADE & CO COM 485865109 1,460 82,161 SH   SOLE   82,161 0 0
LEGG MASON BW GLB INC OPP FD COM 52469B100 3,351 289,404 SH   SOLE   289,404 0 0
LINN ENERGY LLC UNIT LTD LIAB 536020100 543 421,300 SH Put SOLE   421,300 0 0
LMP CAP & INCOME FD INC COM 50208A102 231 18,712 SH   SOLE   18,712 0 0
MANAGED HIGH YIELD PLUS FD I COM 561911108 10,792 6,132,069 SH   SOLE   6,132,069 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 17,803 1,215,200 SH   SOLE   1,215,200 0 0
MERITOR INC COM 59001K100 128 15,295 SH   SOLE   15,295 0 0
MFS CHARTER INCOME TR SH BEN INT 552727109 8,302 1,089,442 SH   SOLE   1,089,442 0 0
MFS INTERMEDIATE HIGH INC FD SH BEN INT 59318T109 3,134 1,350,832 SH   SOLE   1,350,832 0 0
MFS MULTIMARKET INCOME TR SH BEN INT 552737108 7,480 1,357,565 SH   SOLE   1,357,565 0 0
MORGAN STANLEY EM MKTS DM DE COM 617477104 16,666 2,450,870 SH   SOLE   2,450,870 0 0
NEUBERGER BERMAN HGH YLD FD COM 64128C106 10,641 1,054,630 SH   SOLE   1,054,630 0 0
NEW AMER HIGH INCOME FD INC COM NEW 641876800 1,039 135,656 SH   SOLE   135,656 0 0
NOBLE CORP PLC SHS USD G65431101 9,646 914,300 SH Put SOLE   914,300 0 0
NOBLE CORP PLC SHS USD G65431101 910 86,249 SH   SOLE   86,249 0 0
NUVEEN DIVERSIFIED DIV INCM COM 6706EP105 171 15,767 SH   SOLE   15,767 0 0
NUVEEN MULTI MKT INCOME FD COM 67075J107 393 55,358 SH   SOLE   55,358 0 0
NUVEEN QUALITY PFD INC FD 3 COM 67072W101 488 57,494 SH   SOLE   57,494 0 0
OI S.A. SPN ADR NEW 670851302 808 1,324,866 SH   SOLE   1,324,866 0 0
PACHOLDER HIGH YIELD FD INC COM 693742108 770 126,806 SH   SOLE   126,806 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 3,105 722,000 SH   SOLE   722,000 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 11,276 2,622,400 SH Put SOLE   2,622,400 0 0
PIMCO DYNAMIC CR INCOME FD COM SHS 72202D106 31,426 1,742,993 SH   SOLE   1,742,993 0 0
PRUDENTIAL GLB SHT DUR HG YL COM 74433A109 2,053 145,071 SH   SOLE   145,071 0 0
PUTMAN HIGH INCOME SEC FUND SHS BEN INT 746779107 2,673 365,665 SH   SOLE   365,665 0 0
PUTNAM MASTER INTER INCOME T SH BEN INT 746909100 259 56,893 SH   SOLE   56,893 0 0
PUTNAM PREMIER INCOME TR SH BEN INT 746853100 29,646 5,989,125 SH   SOLE   5,989,125 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 22,689 1,338,600 SH Put SOLE   1,338,600 0 0
STRATEGIC GLOBAL INCOME FD COM 862719101 740 84,432 SH   SOLE   84,432 0 0
TEMPLETON EMERG MKTS INCOME COM 880192109 426 42,734 SH   SOLE   42,734 0 0
TRANSOCEAN LTD REG SHS H8817H100 48,083 3,883,900 SH Put SOLE   3,883,900 0 0
UNISYS CORP COM NEW 909214306 537 48,560 SH   SOLE   48,560 0 0
UNITED STATES STL CORP NEW COM 912909108 62,952 7,888,700 SH Put SOLE   7,888,700 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,915 23,711 SH   SOLE   23,711 0 0
WELLS FARGO ADVANTAGE INCOME COM SHS 94987B105 11,107 1,490,869 SH   SOLE   1,490,869 0 0
WELLS FARGO ADVANTAGE MULTI COM SHS 94987D101 41,252 3,644,198 SH   SOLE   3,644,198 0 0
WESTERN ASSET EMRG MKT DEBT COM 95766A101 4,204 306,177 SH   SOLE   306,177 0 0
WESTERN ASSET EMRG MKT INCM COM 95766E103 13,997 1,438,577 SH   SOLE   1,438,577 0 0
WESTERN ASSET GLB PTNRS INCO COM 95766G108 5,031 650,794 SH   SOLE   650,794 0 0
WESTERN ASSET GLOBAL CP DEFI COM 95790C107 4,855 307,266 SH   SOLE   307,266 0 0
WESTERN ASSET HGH YLD DFNDFD COM 95768B107 16,686 1,183,381 SH   SOLE   1,183,381 0 0
WESTERN ASSET HIGH INCM OPP COM 95766K109 14,925 3,182,405 SH   SOLE   3,182,405 0 0
WESTERN ASSET MGD HI INCM FD COM 95766L107 17,688 3,913,240 SH   SOLE   3,913,240 0 0
WESTERN ASSET WORLDWIDE INCO COM 957668106 2,577 255,656 SH   SOLE   255,656 0 0