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
ROYAL GOLD INC NOTE 2.875% 6/1 780287AA6 300 284,000 PRN   DFND   0 284,000 0
HANNON ARMSTRONG SUST INFR C NOTE 4.125% 9/0 41068XAB6 1,187 1,244,000 PRN   DFND   0 1,244,000 0
FRANKLIN STREET PPTYS CORP COM 35471R106 5,051 600,591 SH   DFND   0 600,591 0
AEGON N V NY REGISTRY SH 007924103 90 13,315 SH   DFND   0 13,315 0
ALAMOS GOLD INC NEW COM CL A 011532108 4,283 822,012 SH   DFND   0 822,012 0
ANALOG DEVICES INC COM 032654105 240 2,632 SH   DFND   0 2,632 0
ASSOCIATED CAP GROUP INC CL A 045528106 5,852 156,270 SH   DFND   0 156,270 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,441 7,226 SH   DFND   0 7,226 0
BOULDER GROWTH & INCOME FD I COM 101507101 476 44,128 SH   DFND   0 44,128 0
COLGATE PALMOLIVE CO COM 194162103 874 12,200 SH   DFND   0 12,200 0
CONSOLIDATED EDISON INC COM 209115104 609 7,820 SH   DFND   0 7,820 0
DTE ENERGY CO COM 233331107 695 6,658 SH   DFND   0 6,658 0
DISNEY WALT CO COM DISNEY 254687106 4,393 43,741 SH   DFND   0 43,741 0
FASTENAL CO COM 311900104 1,426 26,137 SH   DFND   0 26,137 0
FRANKLIN UNVL TR SH BEN INT 355145103 10,102 1,494,406 SH   DFND   0 1,494,406 0
GDL FUND COM SH BEN IT 361570104 3,372 361,802 SH   DFND   0 361,802 0
GENERAL MLS INC COM 370334104 320 7,104 SH   DFND   0 7,104 0
GLOBAL WTR RES INC COM 379463102 3,480 387,984 SH   DFND   0 387,984 0
HOME DEPOT INC COM 437076102 207 1,161 SH   DFND   0 1,161 0
INTERNATIONAL BUSINESS MACHS COM 459200101 320 2,083 SH   DFND   0 2,083 0
ISHARES TR 20 YR TR BD ETF 464287432 458 3,755 SH   DFND   0 3,755 0
ISHARES TR BARCLAYS 7 10 YR 464287440 3,547 34,371 SH   DFND   0 34,371 0
ISHARES TR 1 3 YR TREAS BD 464287457 3,901 46,687 SH   DFND   0 46,687 0
KENNEDY-WILSON HLDGS INC COM 489398107 12,022 690,947 SH   DFND   0 690,947 0
LIFEWAY FOODS INC COM 531914109 1,736 289,773 SH   DFND   0 289,773 0
MFS GOVT MKTS INCOME TR SH BEN INT 552939100 207 44,768 SH   DFND   0 44,768 0
MCDONALDS CORP COM 580135101 709 4,536 SH   DFND   0 4,536 0
NEW SR INVT GROUP INC COM 648691103 5,670 693,183 SH   DFND   0 693,183 0
NOKIA CORP SPONSORED ADR 654902204 9,034 1,651,491 SH   DFND   0 1,651,491 0
NUVEEN MICHIGAN QLT MUN INC COM 670979103 1,594 125,782 SH   DFND   0 125,782 0
PEPSICO INC COM 713448108 628 5,754 SH   DFND   0 5,754 0
PROCTER AND GAMBLE CO COM 742718109 704 8,882 SH   DFND   0 8,882 0
SCHWAB STRATEGIC TR INTRM TRM TRES 808524854 14,915 283,605 SH   DFND   0 283,605 0
SCHWAB STRATEGIC TR SHT TM US TRES 808524862 14,860 298,152 SH   DFND   0 298,152 0
SCHWAB STRATEGIC TR US TIPS ETF 808524870 17,681 322,177 SH   DFND   0 322,177 0
TEMPLETON GLOBAL INCOME FD COM 880198106 7,556 1,182,398 SH   DFND   0 1,182,398 0
U S GLOBAL INVS INC CL A 902952100 1,854 732,758 SH   DFND   0 732,758 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 328 5,011 SH   DFND   0 5,011 0
WHEATON PRECIOUS METALS CORP COM 962879102 4,819 236,584 SH   DFND   0 236,584 0
COVANTA HLDG CORP COM 22282E102 1,821 125,590 SH   DFND   0 125,590 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 381 35,581 SH   DFND   0 35,581 0
ALPINE GLOBAL PREMIER PPTYS COM SBI 02083A103 92 14,750 SH   DFND   0 14,750 0
ARRAY BIOPHARMA INC COM 04269X105 2,199 134,751 SH   DFND   0 134,751 0
BRANDYWINEGBL GLBAL INM OPRT COM 10537L104 5,018 389,261 SH   DFND   0 389,261 0
BRIXMOR PPTY GROUP INC COM 11120U105 6,818 447,096 SH   DFND   0 447,096 0
CBRE CLARION GLOBAL REAL EST COM 12504G100 898 122,903 SH   DFND   0 122,903 0
COTT CORP QUE COM 22163N106 3,161 214,728 SH   DFND   0 214,728 0
ETF SER SOLUTIONS US GBL GLD PRE 26922A719 945 74,316 SH   DFND   0 74,316 0
EATON VANCE MI MUNI INCOME T SH BEN INT 27826D106 1,088 88,860 SH   DFND   0 88,860 0
EVERSOURCE ENERGY COM 30040W108 1,638 27,794 SH   DFND   0 27,794 0
GABELLI HLTHCARE & WELLNESS SHS 36246K103 218 22,988 SH   DFND   0 22,988 0
GLOBAL SELF STORAGE INC COM 37955N106 2,495 564,541 SH   DFND   0 564,541 0
GREAT PANTHER SILVER LTD COM 39115V101 4,962 4,240,996 SH   DFND   0 4,240,996 0
HANNON ARMSTRONG SUST INFR C COM 41068X100 4,177 214,209 SH   DFND   0 214,209 0
INVESCO SR INCOME TR COM 46131H107 4,515 1,026,183 SH   DFND   0 1,026,183 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 5,245 447,172 SH   DFND   0 447,172 0
MFS INTER INCOME TR SH BEN INT 55273C107 1,363 346,783 SH   DFND   0 346,783 0
MEDICAL PPTYS TRUST INC COM 58463J304 8,855 681,185 SH   DFND   0 681,185 0
MERCK & CO INC COM 58933Y105 5,936 108,986 SH   DFND   0 108,986 0
MORGAN STANLEY EMER MKTS FD COM 61744G107 293 15,880 SH   DFND   0 15,880 0
MORGAN STANLEY ASIA PAC FD I COM 61744U106 247 13,584 SH   DFND   0 13,584 0
180 DEGREE CAP CORP COM 68235B109 1,414 760,314 SH   DFND   0 760,314 0
PIMCO ETF TR 25YR+ ZERO U S 72201R882 4,225 36,753 SH   DFND   0 36,753 0
SPDR SERIES TRUST PORTFOLIO LN TSR 78464A664 4,289 122,202 SH   DFND   0 122,202 0
SANDSTORM GOLD LTD COM NEW 80013R206 7,227 1,518,277 SH   DFND   0 1,518,277 0
SEQUENTIAL BRNDS GROUP INC N COM 81734P107 2,249 1,078,840 SH   DFND   0 1,078,840 0
SPECIAL OPPORTUNITIES FD INC COM 84741T104 705 47,813 SH   DFND   0 47,813 0
SPECIAL OPPORTUNITIES FD INC PFD CONV SE B 84741T302 498 19,471 SH   DFND   0 19,471 0
SPIRIT RLTY CAP INC NEW COM 84860W102 6,275 808,645 SH   DFND   0 808,645 0
TEMPLETON DRAGON FD INC COM 88018T101 228 10,235 SH   DFND   0 10,235 0
TRAVELZOO COM NEW 89421Q205 238 32,716 SH   DFND   0 32,716 0
UNITEDHEALTH GROUP INC COM 91324P102 325 1,518 SH   DFND   0 1,518 0
UNITI GROUP INC COM 91325V108 5,259 323,651 SH   DFND   0 323,651 0
VANGUARD SCOTTSDALE FDS INTER TERM TREAS 92206C706 739 11,740 SH   DFND   0 11,740 0
VEREIT INC COM 92339V100 7,511 1,079,120 SH   DFND   0 1,079,120 0
VIRTUS TOTAL RETURN FUND INC COM 92837G100 340 30,316 SH   DFND   0 30,316 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 4,003 143,898 SH   DFND   0 143,898 0
VOYA PRIME RATE TR SH BEN INT 92913A100 6,938 1,331,585 SH   DFND   0 1,331,585 0
WELLS FARGO GLOBAL DIVIDEND COM 94987C103 140 24,667 SH   DFND   0 24,667 0
ADVANCED MICRO DEVICES INC COM 007903107 1,008 100,298 SH   DFND   0 100,298 0
APOLLO SR FLOATING RATE FD I COM 037636107 900 53,459 SH   DFND   0 53,459 0
BLACKROCK CR ALLCTN INC TR COM 092508100 8,093 638,714 SH   DFND   0 638,714 0
HANESBRANDS INC COM 410345102 3,122 169,470 SH   DFND   0 169,470 0
ISHARES TR TIPS BD ETF 464287176 556 4,916 SH   DFND   0 4,916 0
KONINKLIJKE PHILIPS N V NY REG SH NEW 500472303 3,225 84,169 SH   DFND   0 84,169 0
LEXINGTON REALTY TRUST COM 529043101 4,666 592,917 SH   DFND   0 592,917 0
OMNICOM GROUP INC COM 681919106 3,184 43,815 SH   DFND   0 43,815 0
ROYAL GOLD INC COM 780287108 201 2,343 SH   DFND   0 2,343 0
SIBANYE STILLWATER SPONSORED ADR 825724206 2,682 672,056 SH   DFND   0 672,056 0
FIRST TRUST MORTGAGE INCM FD COM SHS 33734E103 156 11,206 SH   DFND   0 11,206 0
EATON VANCE SR INCOME TR SH BEN INT 27826S103 316 46,376 SH   DFND   0 46,376 0
KIMCO RLTY CORP COM 49446R109 5,228 363,085 SH   DFND   0 363,085 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 10,914 1,374,586 SH   DFND   0 1,374,586 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 3,257 336,818 SH   DFND   0 336,818 0
INGERSOLL-RAND PLC SHS G47791101 220 2,567 SH   DFND   0 2,567 0
ISHARES TR 0-5 YR TIPS ETF 46429B747 326 3,253 SH   DFND   0 3,253 0
REGENERON PHARMACEUTICALS COM 75886F107 1,200 3,486 SH   DFND   0 3,486 0