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 631 75,240 SH   SOLE   74,513 0 727
ADVENT CLAY CONV SEC INC FD COM 007639107 16,837 2,698,183 SH   SOLE   2,698,183 0 0
ADVENT CLAYMORE CV SECS & IN COM 00764C109 17,350 1,070,317 SH   SOLE   1,070,317 0 0
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 1,977 229,637 SH   SOLE   229,637 0 0
AK STL HLDG CORP COM 001547108 6,562 1,173,931 SH   SOLE   1,173,931 0 0
ALLIANCEBERNSTEIN GBL HGH IN COM 01879R106 159 12,210 SH   SOLE   12,210 0 0
ALLIANZGI EQUITY & CONV INCO COM 018829101 719 34,744 SH   SOLE   19,094 0 15,650
ALLIANZGI NFJ DIVID INT & PR COM 01883A107 9,626 718,349 SH   SOLE   641,448 0 76,901
ALPINE GLOBAL DYNAMIC DIVD F COM NEW 02082E205 6,498 612,408 SH   SOLE   612,408 0 0
ALPINE TOTAL DYNAMIC DIVID F COM SH BEN INT N 021060207 76,131 8,459,011 SH   SOLE   8,157,952 0 301,059
AMERICAN AIRLS GROUP INC COM 02376R102 26,120 550,000 SH Put SOLE   550,000 0 0
ANADARKO PETE CORP COM 032511107 14,757 302,100 SH Put SOLE   302,100 0 0
ANADARKO PETE CORP COM 032511107 212 4,347 SH   SOLE   4,347 0 0
APPLE INC COM 037833100 17,883 116,031 SH   SOLE   116,031 0 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 263 16,007 SH   SOLE   16,007 0 0
AVON PRODS INC COM 054303102 6,609 2,836,381 SH   SOLE   2,836,381 0 0
BANCROFT FUND LTD COM 059695106 350 15,970 SH   SOLE   15,970 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06746L422 39,190 1,000,000 SH Call SOLE   1,000,000 0 0
BARRETT BILL CORP COM 06846N104 1,311 305,541 SH   SOLE   305,541 0 0
BLACKROCK CORPOR HI YLD FD I COM 09255P107 3,174 280,843 SH   SOLE   124,791 0 156,052
BLACKROCK DEBT STRAT FD INC COM NEW 09255R202 94,749 8,118,988 SH   SOLE   8,118,988 0 0
BLACKROCK MULTI-SECTOR INC T COM 09258A107 1,025 54,819 SH   SOLE   54,819 0 0
BROOKFIELD REAL ASSETS INCOM SHS BEN INT 112830104 354 14,899 SH   SOLE   14,899 0 0
CHESAPEAKE ENERGY CORP NOTE 5.500% 9/1 165167CS4 41,004 44,450,000 PRN   SOLE   44,450,000 0 0
CLOUGH GLOBAL DIVND AND INC COM 18913Y103 25,235 1,814,150 SH   SOLE   1,803,650 0 10,500
CLOUGH GLOBAL EQUITY FD COM 18914C100 33,769 2,546,667 SH   SOLE   2,531,167 0 15,500
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 82,353 7,379,266 SH   SOLE   7,279,633 0 99,633
COHEN & STEERS GLOBAL INC BL COM 19248M103 153 15,725 SH   SOLE   15,725 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 27,723 3,609,802 SH   SOLE   3,609,802 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 99/99/9999 203668116 9 795,108 SH   SOLE   795,108 0 0
CONSOL ENERGY INC COM 20854P109 4,555 268,903 SH   SOLE   268,903 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 17,458 5,149,894 SH   SOLE   5,149,894 0 0
CSI COMPRESSCO LP COM UNIT 12637A103 393 75,497 SH   SOLE   75,497 0 0
DBX ETF TR DBXTR HAR CS 300 233051879 260 8,900 SH   SOLE   8,900 0 0
DEAN FOODS CO NEW COM NEW 242370203 1,121 103,060 SH   SOLE   103,060 0 0
DELAWARE ENHANCED GBL DIV & COM 246060107 18,736 1,579,736 SH   SOLE   1,512,736 0 67,000
DELAWARE INVTS DIV & INCOME COM 245915103 2,653 246,575 SH   SOLE   188,759 0 57,816
DEUTSCHE HIGH INCOME OPPORT COM 25158Y102 18,377 1,214,607 SH   SOLE   1,214,607 0 0
DEUTSCHE MULTI-MKT INCOME TR SHS 25160E102 11,357 1,267,504 SH   SOLE   1,267,504 0 0
DEUTSCHE STRATEGIC INCOME TR SHS 25160F109 2,501 200,716 SH   SOLE   200,716 0 0
DIVIDEND & INCOME FUND COM NEW 25538A204 3,990 310,255 SH   SOLE   301,255 0 9,000
DYNEGY INC NEW DEL COM 26817R108 2,867 292,811 SH   SOLE   292,811 0 0
ELLSWORTH GROWTH & INCOME FD COM 289074106 732 79,071 SH   SOLE   79,071 0 0
ENERGY XXI GULF COAST INC COM 29276K101 2,695 260,601 SH   SOLE   260,601 0 0
ENSCO PLC SHS CLASS A G3157S106 1,191 199,430 SH   SOLE   199,430 0 0
EUROPEAN EQUITY FUND COM 298768102 438 45,222 SH   SOLE   45,222 0 0
FIRST TR ABERDEEN GLBL OPP F COM SHS 337319107 190 16,112 SH   SOLE   16,112 0 0
FIRST TR HIGH INCOME L/S FD COM 33738E109 614 36,104 SH   SOLE   36,104 0 0
FIRST TR STRATEGIC HIGH INC COM SHS NEW 337353304 5,801 426,231 SH   SOLE   375,032 0 51,199
FRANKLIN UNVL TR SH BEN INT 355145103 74 10,145 SH   SOLE   10,145 0 0
FRONTIER COMMUNICATIONS CORP COM NEW 35906A306 1,764 149,612 SH   SOLE   149,612 0 0
GABELLI DIVD & INCOME TR COM 36242H104 264 11,779 SH   SOLE   11,779 0 0
GENERAL AMERN INVS INC COM 368802104 37,675 1,046,226 SH   SOLE   1,046,226 0 0
GENWORTH FINL INC COM CL A 37247D106 13,749 3,571,234 SH   SOLE   3,571,234 0 0
HERTZ GLOBAL HLDGS INC COM 42806J106 5,278 236,051 SH   SOLE   236,051 0 0
HOSTESS BRANDS INC *W EXP 11/04/202 44109J114 1,305 639,572 SH   SOLE   639,572 0 0
INVESCO HIGH INCOME TR II COM 46131F101 12,192 807,399 SH   SOLE   758,000 0 49,399
LAZARD GLB TTL RET&INCM FD I COM 52106W103 500 29,813 SH   SOLE   29,813 0 0
LAZARD WORLD DIVID & INCOME COM 521076109 694 61,223 SH   SOLE   61,223 0 0
LEGG MASON BW GLB INC OPP FD COM 52469B100 11,470 853,401 SH   SOLE   853,401 0 0
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 12,385 2,053,859 SH   SOLE   1,838,809 0 215,050
LMP CAP & INCOME FD INC COM 50208A102 169 11,589 SH   SOLE   11,589 0 0
MBIA INC COM 55262C100 27,196 3,011,200 SH Put SOLE   3,011,200 0 0
MBIA INC COM 55262C100 3,752 431,320 SH   SOLE   431,320 0 0
MFS CHARTER INCOME TR SH BEN INT 552727109 399 46,000 SH   SOLE   0 0 46,000
MORGAN STANLEY EM MKTS DM DE COM 617477104 1,943 241,723 SH   SOLE   241,723 0 0
MORGAN STANLEY EMER MKTS DEB COM 61744H105 16,715 1,659,833 SH   SOLE   1,541,403 0 118,430
NEUBERGER BERMAN HGH YLD FD COM 64128C106 6,373 524,128 SH   SOLE   524,128 0 0
NEW AMER HIGH INCOME FD INC COM NEW 641876800 150 15,050 SH   SOLE   15,050 0 0
NEW GOLD INC CDA COM 644535106 3,326 896,387 SH   SOLE   896,387 0 0
NUVEEN MULTI MKT INCOME FD COM 67075J107 131 17,285 SH   SOLE   17,285 0 0
OCEAN RIG UDW INC SHS NEW G66964118 8,591 361,420 SH   SOLE   361,420 0 0
OCWEN FINL CORP COM NEW 675746309 1,335 388,141 SH   SOLE   388,141 0 0
ONEMAIN HLDGS INC COM 68268W103 3,553 126,033 SH   SOLE   126,033 0 0
PENNEY J C INC COM 708160106 1,658 154,100 SH Put SOLE   154,100 0 0
PENNEY J C INC COM 708160106 3,268 857,871 SH   SOLE   857,871 0 0
PIONEER ENERGY SVCS CORP COM 723664108 496 194,332 SH   SOLE   194,332 0 0
PRUDENTIAL GLB SHT DUR HG YL COM 74433A109 2,022 135,406 SH   SOLE   32,349 0 103,057
PRUDENTIAL SHT DURATION HG Y COM 74442F107 708 46,388 SH   SOLE   4,600 0 41,788
PUTMAN HIGH INCOME SEC FUND SHS BEN INT 746779107 269 30,173 SH   SOLE   30,173 0 0
RADIAN GROUP INC COM 750236101 42 119,300 SH Put SOLE   119,300 0 0
RADIAN GROUP INC COM 750236101 187 10,000 SH   SOLE   10,000 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 5,031 391,552 SH   SOLE   391,552 0 0
ROYCE MICRO-CAP TR INC COM 780915104 334 35,582 SH   SOLE   24,900 0 10,682
ROYCE VALUE TR INC COM 780910105 381 24,103 SH   SOLE   24,103 0 0
SEADRILL LIMITED SHS G7945E105 815 2,330,500 SH Put SOLE   2,330,500 0 0
SM ENERGY CO COM 78454L100 4,745 267,473 SH   SOLE   267,473 0 0
SOLARCITY CORP NOTE 1.625%11/0 83416TAC4 3,301 3,475,000 PRN   SOLE   3,475,000 0 0
SUPERVALU INC COM NEW 868536301 4,688 215,545 SH   SOLE   215,545 0 0
SURGERY PARTNERS INC COM 86881A100 3,017 291,470 SH   SOLE   291,470 0 0
TEMPLETON EMERG MKTS INCOME COM 880192109 25,459 2,200,436 SH   SOLE   2,091,990 0 108,446
TENET HEALTHCARE CORP COM NEW 88033G407 16,857 1,025,976 SH   SOLE   1,025,976 0 0
TESLA INC NOTE 1.250% 3/0 88160RAC5 11,845 10,500,000 PRN   SOLE   10,500,000 0 0
TESLA INC NOTE 2.375% 3/1 88160RAD3 3,699 3,000,000 PRN   SOLE   3,000,000 0 0
TESLA INC NOTE 0.250% 3/0 88160RAB7 1,374 1,250,000 PRN   SOLE   1,250,000 0 0
TESLA INC COM 88160R101 17,771 52,100 SH Put SOLE   52,100 0 0
TRANSOCEAN LTD REG SHS H8817H100 273 780,600 SH Put SOLE   780,600 0 0
UNISYS CORP COM NEW 909214306 800 94,077 SH   SOLE   94,077 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 19,332 1,349,059 SH   SOLE   1,349,059 0 0
VIRTUS TOTAL RETURN FUND INC COM 92837G100 409 31,366 SH   SOLE   31,366 0 0
VOYA GLBL ADV & PREM OPP FD COM 92912R104 1,572 136,544 SH   SOLE   130,334 0 6,210
WELLS FARGO GLOBAL DIVIDEND COM 94987C103 14,321 2,284,032 SH   SOLE   2,268,391 0 15,641
WELLS FARGO MULTI SECTOR INC COM 94987D101 14,697 1,095,122 SH   SOLE   1,095,122 0 0
WESTERN ASSET EMRG MKT DEBT COM 95766A101 277 17,621 SH   SOLE   17,621 0 0
WESTERN ASSET GLB HI INCOME COM 95766B109 3,820 371,268 SH   SOLE   339,903 0 31,365
WESTERN ASSET HGH YLD DFNDFD COM 95768B107 1,965 126,363 SH   SOLE   31,822 0 94,541
WESTERN ASSET HIGH INCM OPP COM 95766K109 1,777 346,345 SH   SOLE   126,545 0 219,800