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
ENSERVCO CORP COM 29358Y102 14 19,075 SH   DFND 1,2 19,075 0 0
ALLIANCEBERNSTEIN INCOME FUN COM 01881E101 2,780 353,662 SH   DFND 1,2 353,662 0 0
DIVIDEND & INCOME FUND COM NEW 25538A204 186 17,173 SH   DFND 1,2 17,173 0 0
TEMPLETON RUS AND EAST EUR F COM 88022F105 804 82,676 SH   DFND 1,2 82,676 0 0
CENTRAL GOLDTRUST TR UNIT 153546106 18,437 464,594 SH   DFND 1,2 464,594 0 0
ISHARES MSCI STH KOR ETF 464286772 3,658 75,000 SH   DFND 1 75,000 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 487 53,147 SH   DFND 1,2 53,147 0 0
BLACKROCK MUNIYLD MICH QLTY COM 09254V105 2,434 184,675 SH   DFND 1,2 184,675 0 0
NUVEEN DIVERSIFIED COMMODTY COM UT BEN INT 67074P104 2,325 225,267 SH   DFND 1,2 225,267 0 0
1347 CAP CORP COM 68245V103 2,455 250,000 SH   DFND 1,2 250,000 0 0
NUVEEN CORE EQUITY ALPHA FUN COM 67090X107 713 51,775 SH   DFND 1,2 51,775 0 0
1347 CAP CORP *W EXP 07/15/202 68245V129 88 294,100 SH   DFND 1,2 294,100 0 0
RAMCO-GERSHENSON PPTYS TR PERP PFD-D CV 751452608 6,124 110,000 SH   DFND 1,2 110,000 0 0
FEDERATED ENHANC TREAS INCM COM SH BEN INT 314162108 564 41,746 SH   DFND 1,2 41,746 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 3,323 486,597 SH   DFND 1,2 486,597 0 0
CAMBRIDGE CAP ACQUISITION CO COM 13215Q106 2,000 200,000 SH   DFND 1,2 200,000 0 0
VECTOR GROUP LTD FRNT 1/1 92240MAY4 8,650 5,700,000 PRN   DFND 1,2 0 0 0
DT ASIA INVTS LTD SHS G2615J104 2,988 300,000 SH   DFND 1,2 300,000 0 0
AROWANA INC SHS G05011104 4,660 475,000 SH   DFND 1,2 475,000 0 0
EASTERLY ACQUISITION CORP UNIT 99/99/9999 27616L201 503 50,000 SH   DFND 1,2 50,000 0 0
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 91 11,117 SH   DFND 1,2 11,117 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,507 7,864 SH   DFND 1,2 7,864 0 0
GARNERO GROUP ACQUISITION CO RIGHT 06/25/2016 G5866L132 42 192,600 SH   DFND 1,2 192,600 0 0
NUVEEN LG/SHT COMMODITY TOTR COM UT BEN INT 670731108 10,021 623,989 SH   DFND 1,2 623,989 0 0
C B PHARMA ACQUISITION CORP SHS G2029P126 2,669 268,246 SH   DFND 1,2 268,246 0 0
NORTH AMERN ENERGY PARTNERS COM 656844107 6,091 2,805,583 SH   DFND 1,2 2,805,583 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 2,529 257,000 SH   DFND 1,2 257,000 0 0
PENN VA CORP COM 707882106 29 54,516 SH   DFND 1,2 54,516 0 0
SEABRIDGE GOLD INC COM 811916105 7,491 1,285,000 SH   DFND 1,2 1,285,000 0 0
FIRSTHAND TECH VALUE FD INC COM 33766Y100 138 16,192 SH   DFND 1,2 16,192 0 0
DT ASIA INVTS LTD *W EXP 03/29/202 G2615J138 17 188,600 SH   DFND 1,2 188,600 0 0
PRETIUM RES INC COM 74139C102 694 114,285 SH   DFND 1,2 114,285 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 99/99/9999 203668116 27 3,000,000 SH   DFND 1,2 3,000,000 0 0
1347 CAP CORP RIGHT 07/21/2016 68245V111 100 311,860 SH   DFND 1,2 311,860 0 0
E COMPASS ACQUISITION CORP UNIT 99/99/9999 G2920Y200 3,042 300,000 SH   DFND 1,2 300,000 0 0
NOBILIS HEALTH CORP COM 65500B103 104 20,000 SH   DFND 1,2 20,000 0 0
ATLANTIC ALLIANCE PARTNER CO SHS G04897107 4,048 400,000 SH   DFND 1,2 400,000 0 0
HENNESSY CAP ACQUISITION COR UNIT 99/99/9999 42588J209 2,465 250,000 SH   DFND 1,2 250,000 0 0
DENISON MINES CORP COM 248356107 657 1,750,000 SH   DFND 1,2 1,750,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 4,630 42,400 SH   DFND 1,2 42,400 0 0
STANLEY BLACK & DECKER INC UNIT 99/99/9999 854502309 24,974 186,779 SH   DFND 1,2 186,779 0 0
DT ASIA INVTS LTD RIGHT 03/30/2016 G2615J112 72 347,200 SH   DFND 1,2 347,200 0 0
AMBASSADORS GROUP INC COM 023177108 651 239,508 SH   DFND 1,2 239,508 0 0