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
AIG WARRANT STRIKE 45 *W EXP 01/19/202 026874156 11,457 572,899 SH   DFND 2 11,457 0 0
ADAMS DIVERSIFIED EQUITY COM 006212104 667 43,869 SH   DFND 2 667 0 0
ALTABA INC COM 021346101 1,857 28,043 SH   DFND 2 1,857 0 0
AMERICA MOVIL S A DE C V ADR 02364W204 1,246 70,225 SH   DFND 2 1,246 0 0
AMERICAN INTERNATIONAL GROUP PUT 026874954 3,340 54,000 SH   DFND 2 3,340 0 0
ARCONIC INC 5.375% PFD B 1 03965L308 7,107 182,716 SH   DFND 2 7,107 0 0
BANK OF AMERICA CORPORATION WT EXP 011619 *W EXP 01/16/201 060505146 17,022 1,285,650 SH   DFND 2 17,022 0 0
BLACK HILLS CORP UNIT 99/99/9999 092113125 817 10,835 SH   DFND 2 817 0 0
BLACKROCK DEBT STRATEGIES FD COM 09255R202 208 17,876 SH   DFND 2 208 0 0
BLACKROCK ENHANCED EQUITY DI COM 09251A104 572 63,073 SH   DFND 2 572 0 0
BLACKROCK MUNIYIELD QUALITY COM 09254E103 221 15,456 SH   DFND 2 221 0 0
CAESARS ACQUISITION CO-CL A CL A 12768T103 232 10,849 SH   DFND 2 232 0 0
CAPITAL BANK FINANCIAL-CL A COM 139794101 3,057 74,478 SH   DFND 2 3,057 0 0
CENTRAL FUND CANADA LTD-A CL A 153501101 757 59,750 SH   DFND 2 757 0 0
CHARTER COMMUNICATIONS INC-A CL A 16119P108 4,965 13,663 SH   DFND 2 4,965 0 0
COMMERCEHUB INC-SERIES C COM SER C 20084V306 412 19,310 SH   DFND 2 412 0 0
CU BANCORP COM 126534106 427 11,015 SH   DFND 2 427 0 0
DISCOVERY COMMUNICATIONS-C COM SER C 25470F302 500 24,714 SH   DFND 2 500 0 0
DYNEGY INC PFD CONV SER A 26817R207 1,347 40,653 SH   DFND 2 1,347 0 0
EATON VANCE ENH EQT INC II COM 278277108 275 18,404 SH   DFND 2 275 0 0
EATON VANCE FLOAT RT INC TR COM 278279104 482 32,977 SH   DFND 2 482 0 0
EATON VANCE TAX MAN GLBL BR COM 27829C105 911 76,967 SH   DFND 2 911 0 0
ENBRIDGE ENERGY PARTNERS COM 29250R106 583 36,536 SH   DFND 2 583 0 0
HESS CORP COM 42809H107 550 11,737 SH   DFND 2 550 0 0
ISHARES CHINA LARGE-CAP ETF ETF 464287184 517 11,749 SH   DFND 2 517 0 0
ISHARES MSCI EAFE ETF ETF 464287465 706 10,314 SH   DFND 2 706 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 10,766 199,381 SH   DFND 2 10,766 0 0
LIBERTY GLOBAL PLC CL C G5480U120 346 10,596 SH   DFND 2 346 0 0
LIBERTY INTERACTIVE CORP Q-A COM SER A 53071M104 1,216 51,615 SH   DFND 2 1,216 0 0
LIBERTY MEDIA CORP-LIBERTY-A COM SER A FRMLA 531229870 406 11,136 SH   DFND 2 406 0 0
LIBERTY MEDIA COR-SIRIUSXM A COM A SIRIUSXM 531229409 1,118 26,700 SH   DFND 2 1,118 0 0
LIBERTY MEDIA COR-SIRIUSXM C C SIRIUSXM 531229607 767 18,321 SH   DFND 2 767 0 0
LIONS GATE ENTERTAINMENT-B CL B NON VTG 535919500 946 29,768 SH   DFND 2 946 0 0
NUVEEN AMT-FR MUNI CREDIT FD COM 67071L106 751 48,853 SH   DFND 2 751 0 0
NUVEEN CA DIV ADV MUNI COM 67066Y105 372 24,956 SH   DFND 2 372 0 0
PARK STERLING CORP COM 70086Y105 227 18,329 SH   DFND 2 227 0 0
POWERSHARES INDIA PORTFOLIO INDIA PORT 73935L100 521 22,016 SH   DFND 2 521 0 0
PRUDENTIAL GL SH DUR HI YLD COM 74433A109 307 20,616 SH   DFND 2 307 0 0
RAMCO-GERSHENSON PROPERT PERP PFD-D CV 751452608 541 10,007 SH   DFND 2 541 0 0
REXNORD CORP COM 76169B102 287 11,309 SH   DFND 2 287 0 0
ROCKWELL COLLINS INC COM 774341101 3,890 29,766 SH   DFND 2 3,890 0 0
SPDR BBG BARC HIGH YIELD BND BLOOMBERG BRCLYS 78464A417 1,274 34,159 SH   DFND 2 1,274 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 4,484 429,510 SH   DFND 2 4,484 0 0
SPROTT PHYSICAL SILVER TRUST UNIT 85207K107 1,147 182,660 SH   DFND 2 1,147 0 0
STARWOOD WAYPOINT HOMES COM 85572F105 1,225 33,709 SH   DFND 2 1,225 0 0
T-Mobile US Inc PFD SER A 872590203 82,250 823,250 SH   DFND 1 2 82,250 0 0
TRI CONTL CORP COM 895436103 829 32,480 SH   DFND 2 829 0 0
TRIPADVISOR INC COM 896945201 1,054 26,028 SH   DFND 2 1,054 0 0
TWENTY-FIRST CENTURY FOX - B CL B 90130A200 323 12,529 SH   DFND 2 323 0 0
UNILEVER PLC NEW ADR ADR 904767704 2,885 49,791 SH   DFND 2 2,885 0 0
VANGUARD EMERG MARKETS VIPER ETF 922042858 435 10,000 SH   DFND 2 435 0 0
VANGUARD FTSE DEVELOPED ETF ETF 921943858 1,302 30,000 SH   DFND 2 1,302 0 0
WESTERN REFINING LOGISTICS L COM UNIT REP LTP 95931Q205 375 14,537 SH   DFND 2 375 0 0
ZILLOW GROUP INC - A CL A 98954M101 1,008 25,119 SH   DFND 2 1,008 0 0