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 CHILE FD INC COM 00301W105 71 10,000 SH   DFND 0 10,000 0
ADVANCED MICRO DEVICES INC COM 007903107 4 286,400 SH Put DFND 0 286,400 0
AMTRUST FINL SVCS INC COM 032359309 0 10,000 SH Call DFND 0 10,000 0
ANTERO RES CORP COM 03674X106 1,802 83,400 SH   DFND 0 83,400 0
APOLLO SR FLOATING RATE FD I COM 037636107 169 10,000 SH   DFND 0 10,000 0
ASSURED GUARANTY LTD COM G0585R106 9 10,000 SH Put DFND 0 10,000 0
BARCLAYS BK PLC IPATH S&P500 VIX 06740Q252 605 562,500 SH Put DFND 0 562,500 0
BLACKROCK MUNI N Y INTER DUR COM 09255F109 288 20,577 SH   DFND 0 20,577 0
BOULDER GROWTH & INCOME FD I COM 101507101 296 30,436 SH   DFND 0 30,436 0
BP PRUDHOE BAY RTY TR UNIT BEN INT 055630107 2 20,000 SH Put DFND 0 20,000 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 7,921 123,900 SH   DFND 0 123,900 0
CLEAR CHANNEL OUTDOOR HLDGS CL A 18451C109 650 133,962 SH   DFND 0 133,962 0
DAVITA INC COM 23918K108 3 10,000 SH Put DFND 0 10,000 0
DOMINION MIDSTREAM PARTNERS COM UT REP LTD 257454108 3,087 107,000 SH   DFND 0 107,000 0
EATON VANCE CA MUNI INCOME T SH BEN INT 27826F101 360 28,735 SH   DFND 0 28,735 0
EATON VANCE CALIF MUN BD FD COM 27828C106 487 40,923 SH   DFND 0 40,923 0
EATON VANCE NY MUNI INCOME T SH BEN INT 27826W104 261 20,000 SH   DFND 0 20,000 0
EATON VANCE SR INCOME TR SH BEN INT 27826S103 266 40,000 SH   DFND 0 40,000 0
ENBRIDGE ENERGY PARTNERS L P COM 29250R106 4,426 276,600 SH   DFND 0 276,600 0
ENTERPRISE PRODS PARTNERS L COM 293792107 13,916 513,900 SH   DFND 0 513,900 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 13,597 182,190 SH   DFND 0 182,190 0
EVERI HLDGS INC COM 30034T103 1,876 257,728 SH   DFND 0 257,728 0
GNC HLDGS INC COM CL A 36191G107 169 20,000 SH   DFND 0 20,000 0
HALCON RES CORP *W EXP 09/09/202 40537Q118 9 13,305 SH   DFND 0 13,305 0
HOLLY ENERGY PARTNERS L P COM UT LTD PTN 435763107 2,368 72,900 SH   DFND 0 72,900 0
INVESCO CALIF VALUE MUN INC COM 46132H106 353 27,925 SH   DFND 0 27,925 0
INVESCO DYNAMIC CR OPP FD COM 46132R104 604 50,300 SH   DFND 0 50,300 0
INVESCO PA VALUE MUN INCOME COM 46132K109 837 67,746 SH   DFND 0 67,746 0
INVESCO TR INVT GRADE NY MUN COM 46131T101 334 24,416 SH   DFND 0 24,416 0
ISHARES MSCI FRANCE ETF 464286707 2,876 100,000 SH   DFND 0 100,000 0
ISHARES TR 7-10YR TR BD ETF 464287440 3,785 35,500 SH   DFND 0 35,500 0
ISHARES TR RUSSELL 2000 ETF 464287655 29 15,000 SH Call DFND 0 15,000 0
ISHARES TR JP MOR EM MK ETF 464288281 17,154 150,000 SH   DFND 0 150,000 0
ISHARES TR IBOXX HI YD ETF 464288513 96 280,000 SH Put DFND 0 280,000 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 11,583 390,000 SH   DFND 0 390,000 0
LIBERTY MEDIA CORP DEB 4.000%11/1 530715AG6 5,695 8,500,000 PRN   DFND 0 8,500,000 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 13,808 193,740 SH   DFND 0 193,740 0
MALLINCKRODT PUB LTD CO SHS G5785G107 1 10,000 SH Call DFND 0 10,000 0
MPLX LP COM UNIT REP LTD 55336V100 10,895 326,200 SH   DFND 0 326,200 0
NEUBERGER BERMAN NY INT MUN COM 64124K102 719 56,427 SH   DFND 0 56,427 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 443 51,482 SH   DFND 0 51,482 0
NUVEEN ENHANCED MUN VALUE FD COM 67074M101 168 11,738 SH   DFND 0 11,738 0
NUVEEN OHIO QLTY MUN INCOME COM 670980101 523 34,898 SH   DFND 0 34,898 0
OMEROS CORP COM 682143102 11 20,000 SH Put DFND 0 20,000 0
ONEOK INC NEW COM 682680103 5,574 106,872 SH   DFND 0 106,872 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 6,059 122,600 SH   DFND 0 122,600 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 7,668 291,900 SH   DFND 0 291,900 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 4,629 71,300 SH   DFND 0 71,300 0
SHELL MIDSTREAM PARTNERS L P UNIT LTD INT 822634101 5,987 197,600 SH   DFND 0 197,600 0
SIGNET JEWELERS LIMITED SHS G81276100 1 10,000 SH Put DFND 0 10,000 0
SONOMA PHARMACEUTICALS INC *W EXP 01/21/202 83558L113 10 22,127 SH   DFND 0 22,127 0
SOURCE CAP INC COM 836144105 921 23,832 SH   DFND 0 23,832 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2 20,000 SH Put DFND 0 20,000 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 23 20,000 SH Call DFND 0 20,000 0
SPECTRA ENERGY PARTNERS LP COM 84756N109 13,153 306,600 SH   DFND 0 306,600 0
SWISS HELVETIA FD INC COM 870875101 314 24,687 SH   DFND 0 24,687 0
TC PIPELINES LP UT COM LTD PRT 87233Q108 8,514 154,800 SH   DFND 0 154,800 0
VANECK VECTORS ETF TR OIL SVCS ETF 92189F718 46 150,000 SH Put DFND 0 150,000 0
VOYA GLBL ADV & PREM OPP FD COM 92912R104 357 33,002 SH   DFND 0 33,002 0
WESTERN ASSET CLYM INFL OPP COM 95766R104 388 35,187 SH   DFND 0 35,187 0
WILLIAMS PARTNERS L P NEW COM UNIT LTD PAR 96949L105 6,614 164,900 SH   DFND 0 164,900 0
WPX ENERGY INC COM 98212B103 4 10,000 SH Put DFND 0 10,000 0