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
ADVENT CLAY CONV SEC INC FD COM 007639107 8,552 1,427,681 SH   SOLE   1,427,681 0 0
ADVENT CLAYMORE CV SECS & IN COM 00764C109 8,827 555,844 SH   SOLE   555,844 0 0
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 1,181 141,640 SH   SOLE   141,640 0 0
AK STL HLDG CORP COM 001547108 6,883 1,216,064 SH   SOLE   1,216,064 0 0
ALLIANCEBERNSTEIN GBL HGH IN COM 01879R106 156 12,210 SH   SOLE   12,210 0 0
ALLIANZGI EQUITY & CONV INCO COM 018829101 403 19,094 SH   SOLE   19,094 0 0
ALLIANZGI NFJ DIVID INT & PR COM 01883A107 9,766 748,349 SH   SOLE   641,448 0 106,901
ALPHABET INC CAP STK CL A 02079K305 694 65,000 SH Put SOLE   65,000 0 0
ALPHABET INC CAP STK CL C 02079K107 11,071 10,580 SH   SOLE   10,580 0 0
ALPINE GLOBAL DYNAMIC DIVD F COM NEW 02082E205 3,798 350,377 SH   SOLE   350,377 0 0
ALPINE TOTAL DYNAMIC DIVID F COM SH BEN INT N 021060207 86,278 9,110,636 SH   SOLE   8,809,577 0 301,059
AMERICAN AIRLS GROUP INC COM 02376R102 28,617 550,000 SH Put SOLE   550,000 0 0
ANADARKO PETE CORP COM 032511107 16,205 302,100 SH Put SOLE   302,100 0 0
ANALOG DEVICES INC COM 032654105 39,583 444,600 SH Put SOLE   444,600 0 0
ANALOG DEVICES INC COM 032654105 6,681 75,039 SH   SOLE   75,039 0 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 449 27,335 SH   SOLE   27,335 0 0
AVIS BUDGET GROUP COM 053774105 932 21,230 SH   SOLE   21,230 0 0
AVON PRODS INC COM 054303102 7,653 3,559,563 SH   SOLE   3,559,563 0 0
BANCROFT FUND LTD COM 059695106 348 15,970 SH   SOLE   15,970 0 0
BARRETT BILL CORP COM 06846N104 910 177,358 SH   SOLE   177,358 0 0
BLACKROCK CORPOR HI YLD FD I COM 09255P107 13,741 1,256,059 SH   SOLE   1,070,007 0 186,052
BLACKROCK DEBT STRAT FD INC COM NEW 09255R202 94,992 8,118,988 SH   SOLE   8,118,988 0 0
CBRE CLARION GLOBAL REAL EST COM 12504G100 1,411 178,120 SH   SOLE   178,120 0 0
CHESAPEAKE ENERGY CORP NOTE 5.500% 9/1 165167CS4 40,633 44,450,000 PRN   SOLE   44,450,000 0 0
CISCO SYS INC COM 17275R102 89,189 2,328,700 SH Put SOLE   2,328,700 0 0
CISCO SYS INC COM 17275R102 10,475 273,499 SH   SOLE   273,499 0 0
CLOUGH GLOBAL DIVND AND INC COM 18913Y103 3,576 268,049 SH   SOLE   266,464 0 1,585
CLOUGH GLOBAL EQUITY FD COM 18914C100 3,458 258,662 SH   SOLE   257,031 0 1,631
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 7,034 646,490 SH   SOLE   637,761 0 8,729
COHEN & STEERS GLOBAL INC BL COM 19248M103 155 15,725 SH   SOLE   15,725 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 29,088 6,828,207 SH   SOLE   6,828,207 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 99/99/9999 203668116 6 795,108 SH   SOLE   795,108 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 16,203 4,895,139 SH   SOLE   4,895,139 0 0
DASEKE INC *W EXP 02/27/202 23753F115 723 354,368 SH   SOLE   354,368 0 0
DBX ETF TR XTRACK HRVST CSI 233051879 276 8,900 SH   SOLE   8,900 0 0
DEAN FOODS CO NEW COM NEW 242370203 1,074 92,900 SH   SOLE   92,900 0 0
DELAWARE ENHANCED GBL DIV & COM 246060107 22,316 1,839,728 SH   SOLE   1,772,728 0 67,000
DELAWARE INVTS DIV & INCOME COM 245915103 2,485 230,754 SH   SOLE   192,938 0 37,816
DEUTSCHE HIGH INCOME OPPORT COM 25158Y102 17,041 1,134,535 SH   SOLE   1,134,535 0 0
DEUTSCHE MULTI-MKT INCOME TR SHS 25160E102 7,155 808,497 SH   SOLE   808,497 0 0
DEUTSCHE STRATEGIC INCOME TR SHS 25160F109 3,199 256,525 SH   SOLE   256,525 0 0
DIVIDEND & INCOME FUND COM NEW 25538A204 1,391 103,556 SH   SOLE   103,556 0 0
DONNELLEY R R & SONS CO COM 257867200 1,137 122,099 SH   SOLE   122,099 0 0
DYNEGY INC NEW DEL COM 26817R108 5,117 431,811 SH   SOLE   431,811 0 0
EATON VANCE LTD DUR INCOME F COM 27828H105 864 63,299 SH   SOLE   63,299 0 0
EATON VANCE SR INCOME TR SH BEN INT 27826S103 1,192 182,829 SH   SOLE   182,829 0 0
ELLSWORTH GROWTH & INCOME FD COM 289074106 744 79,071 SH   SOLE   79,071 0 0
ENERGY XXI GULF COAST INC COM 29276K101 1,496 260,601 SH   SOLE   260,601 0 0
ENSCO PLC SHS CLASS A G3157S106 1,212 205,000 SH   SOLE   205,000 0 0
FIRST TR ABERDEEN GLBL OPP F COM SHS 337319107 188 16,112 SH   SOLE   16,112 0 0
FIRST TR STRATEGIC HIGH INC COM SHS NEW 337353304 3,163 245,732 SH   SOLE   212,708 0 33,024
FRANKLIN UNVL TR SH BEN INT 355145103 73 10,145 SH   SOLE   10,145 0 0
FRONTIER COMMUNICATIONS CORP COM NEW 35906A306 670 99,098 SH   SOLE   99,098 0 0
GENERAL AMERN INVS INC COM 368802104 21,771 632,876 SH   SOLE   632,876 0 0
GENWORTH FINL INC COM CL A 37247D106 13,128 4,221,234 SH   SOLE   4,221,234 0 0
HERTZ GLOBAL HLDGS INC COM 42806J106 6,165 278,975 SH   SOLE   278,975 0 0
HOSTESS BRANDS INC *W EXP 11/04/202 44109J114 556 238,772 SH   SOLE   238,772 0 0
HOVNANIAN ENTERPRISES INC CL A 442487203 55 238,400 SH Call SOLE   238,400 0 0
INTEL CORP COM 458140100 233 1,009,100 SH Put SOLE   1,009,100 0 0
INTEL CORP COM 458140100 2,810 60,879 SH   SOLE   60,879 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 89 385,500 SH Put SOLE   385,500 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 7,338 47,829 SH   SOLE   47,829 0 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 2,777 237,128 SH   SOLE   237,128 0 0
INVESCO HIGH INCOME TR II COM 46131F101 11,876 807,355 SH   SOLE   758,000 0 49,355
INVESCO SR INCOME TR COM 46131H107 624 142,151 SH   SOLE   142,151 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 416 1,800,000 SH Call SOLE   1,800,000 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 416 1,800,000 SH Put SOLE   1,800,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 873 10,000 SH   SOLE   10,000 0 0
LAZARD GLB TTL RET&INCM FD I COM 52106W103 537 29,813 SH   SOLE   29,813 0 0
LAZARD WORLD DIVID & INCOME COM 521076109 712 61,223 SH   SOLE   61,223 0 0
LEGG MASON BW GLB INC OPP FD COM 52469B100 7,009 548,902 SH   SOLE   548,902 0 0
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 10,049 1,595,102 SH   SOLE   1,386,419 0 208,683
MACYS INC COM 55616P104 590 2,549,800 SH Put SOLE   2,549,800 0 0
MBIA INC COM 55262C100 45,174 8,157,800 SH Put SOLE   8,157,800 0 0
MFS CHARTER INCOME TR SH BEN INT 552727109 1,073 126,486 SH   SOLE   30,486 0 96,000
MICROSOFT CORP COM 594918104 28,228 330,000 SH Put SOLE   330,000 0 0
MICROSOFT CORP COM 594918104 2,670 31,216 SH   SOLE   31,216 0 0
MORGAN STANLEY EM MKTS DM DE COM 617477104 911 118,345 SH   SOLE   118,345 0 0
MORGAN STANLEY EMER MKTS DEB COM 61744H105 13,452 1,347,922 SH   SOLE   1,230,929 0 116,993
NEUBERGER BERMAN HGH YLD FD COM 64128C106 6,720 571,468 SH   SOLE   571,468 0 0
NEW AMER HIGH INCOME FD INC COM NEW 641876800 149 15,888 SH   SOLE   15,888 0 0
NEW GOLD INC CDA COM 644535106 3,249 987,387 SH   SOLE   987,387 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 938 114,151 SH   SOLE   114,151 0 0
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 835 49,359 SH   SOLE   49,359 0 0
NUVEEN MULTI MKT INCOME FD COM 67075J107 132 17,285 SH   SOLE   17,285 0 0
OCEAN RIG UDW INC COM CL A G66964118 2,594 96,794 SH   SOLE   96,794 0 0
OCWEN FINL CORP COM NEW 675746309 1,159 370,340 SH   SOLE   370,340 0 0
ONEMAIN HLDGS INC COM 68268W103 2,993 115,163 SH   SOLE   115,163 0 0
ORACLE CORP COM 68389X105 48,642 1,028,800 SH Put SOLE   1,028,800 0 0
ORACLE CORP COM 68389X105 15,652 331,053 SH   SOLE   331,053 0 0
PARKER DRILLING CO COM 701081101 3,326 3,326,089 SH   SOLE   3,326,089 0 0
PENNEY J C INC COM 708160106 36 154,100 SH Put SOLE   154,100 0 0
PENNEY J C INC COM 708160106 3,861 1,221,860 SH   SOLE   1,221,860 0 0
PIONEER DIV HIGH INCOME TRUS COM 723653101 284 18,012 SH   SOLE   18,012 0 0
PIONEER HIGH INCOME TR COM 72369H106 97 10,000 SH   SOLE   10,000 0 0
PITNEY BOWES INC COM 724479100 36,391 3,255,000 SH Put SOLE   3,255,000 0 0
PITNEY BOWES INC COM 724479100 544 48,649 SH   SOLE   48,649 0 0
PRUDENTIAL GLB SHT DUR HG YL COM 74433A109 3,384 234,813 SH   SOLE   115,756 0 119,057
PRUDENTIAL SHT DURATION HG Y COM 74442F107 1,205 81,613 SH   SOLE   25,825 0 55,788
PUTMAN HIGH INCOME SEC FUND SHS BEN INT 746779107 197 21,834 SH   SOLE   21,834 0 0
QUALCOMM INC COM 747525103 26,946 420,900 SH Put SOLE   420,900 0 0
QUALCOMM INC COM 747525103 2,628 41,045 SH   SOLE   41,045 0 0
RADIAN GROUP INC COM 750236101 2,459 119,300 SH Put SOLE   119,300 0 0
RADIAN GROUP INC COM 750236101 206 10,000 SH   SOLE   10,000 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 4,770 304,578 SH   SOLE   304,578 0 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 1,136 105,133 SH   SOLE   105,133 0 0
ROYCE MICRO-CAP TR INC COM 780915104 546 57,852 SH   SOLE   32,200 0 25,652
SEARS HLDGS CORP COM 812350106 2,837 792,540 SH   SOLE   792,540 0 0
SIMPLY GOOD FOODS CO *W EXP 07/07/202 82900L110 116 29,700 SH   SOLE   29,700 0 0
SM ENERGY CO COM 78454L100 4,994 226,173 SH   SOLE   226,173 0 0
SOLARCITY CORP NOTE 1.625%11/0 83416TAC4 3,230 3,475,000 PRN   SOLE   3,475,000 0 0
SUPERVALU INC COM NEW 868536301 6,844 316,866 SH   SOLE   316,866 0 0
SURGERY PARTNERS INC COM 86881A100 4,087 337,789 SH   SOLE   337,789 0 0
TEMPLETON EMERG MKTS INCOME COM 880192109 53,492 4,788,902 SH   SOLE   4,630,456 0 158,446
TENET HEALTHCARE CORP COM NEW 88033G407 16,644 1,097,921 SH   SOLE   1,097,921 0 0
TESLA INC NOTE 1.250% 3/0 88160RAC5 8,671 8,000,000 PRN   SOLE   8,000,000 0 0
TESLA INC NOTE 2.375% 3/1 88160RAD3 3,497 3,000,000 PRN   SOLE   3,000,000 0 0
TESLA INC COM 88160R101 30,512 98,000 SH Put SOLE   98,000 0 0
TEXAS INSTRS INC COM 882508104 31,332 300,000 SH Put SOLE   300,000 0 0
TEXAS INSTRS INC COM 882508104 1,974 18,899 SH   SOLE   18,899 0 0
TRANSOCEAN LTD REG SHS H8817H100 8,337 780,600 SH Put SOLE   780,600 0 0
TREEHOUSE FOODS INC COM 89469A104 1,501 30,352 SH   SOLE   30,352 0 0
UNISYS CORP COM NEW 909214306 2,599 318,892 SH   SOLE   318,892 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 53,415 2,570,500 SH Put SOLE   2,570,500 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 2,177 104,759 SH   SOLE   104,759 0 0
VOYA GLBL ADV & PREM OPP FD COM 92912R104 236 20,629 SH   SOLE   20,629 0 0
VOYA PRIME RATE TR SH BEN INT 92913A100 2,054 405,097 SH   SOLE   405,097 0 0
WELLS FARGO GLOBAL DIVIDEND COM 94987C103 5,959 1,004,965 SH   SOLE   1,004,965 0 0
WELLS FARGO INCOME OPPORTUNI WF INC OPPTY FD 94987B105 11,394 1,356,395 SH   SOLE   1,328,695 0 27,700
WELLS FARGO MULTI SECTOR INC COM 94987D101 9,457 724,088 SH   SOLE   724,088 0 0
WESTERN ASSET EMRG MKT DEBT COM 95766A101 3,116 200,398 SH   SOLE   200,398 0 0
WESTERN ASSET GLB HI INCOME COM 95766B109 10,266 1,004,529 SH   SOLE   961,164 0 43,365
WESTERN ASSET HGH YLD DFNDFD COM 95768B107 6,270 414,698 SH   SOLE   301,257 0 113,441
WESTERN ASSET HIGH INCM FD I COM 95766J102 5,454 782,480 SH   SOLE   782,480 0 0
WESTERN ASSET HIGH INCM OPP COM 95766K109 16,225 3,200,147 SH   SOLE   2,779,310 0 420,837
XEROX CORP COM NEW 984121608 268 9,200 SH Put SOLE   9,200 0 0