Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	UNITED STATES STL CORP NEW	7,888,700	$62.95M	6.0%	$7.98	$23.16	—	Put	912909108
—	BLACKROCK DEBT STRAT FD INC	16,908,864	$56.98M	5.4%	$3.37	$3.95	—	COM	09255R103
—	CENTURYLINK INC	2,117,600	$53.28M	5.1%	$25.16	$25.17	—	Put	156700106
—	BLACKROCK CORPOR HI YLD FD I	4,957,128	$48.48M	4.6%	$9.78	$12.11	—	COM	09255P107
RIG	TRANSOCEAN LTD	3,883,900	$48.08M	4.6%	$12.38	—	—	Put	H8817H100
—	FRONTIER COMMUNICATIONS CORP	9,518,600	$44.45M	4.2%	$4.67	$4.74	—	Put	35906A108
—	WELLS FARGO ADVANTAGE MULTI	3,644,198	$41.25M	3.9%	$11.32	$12.55	—	COM SHS	94987D101
—	ANADARKO PETE CORP	695,200	$33.77M	3.2%	$48.58	$48.59	—	Put	032511107
—	BLACKSTONE GSO STRATEGIC CR	2,500,662	$33.43M	3.2%	$13.37	$16.26	—	COM SHS BEN IN	09257R101
—	PIMCO DYNAMIC CR INCOME FD	1,742,993	$31.43M	3.0%	$18.03	$21.24	—	COM SHS	72202D106
—	PUTNAM PREMIER INCOME TR	5,989,125	$29.65M	2.8%	$4.95	$5.09	—	SH BEN INT	746853100
DVN	DEVON ENERGY CORP NEW	853,600	$27.32M	2.6%	$32.00 *	$28.36	0.0%	Put	25179M103
—	FRANKLIN LTD DURATION INC TR	2,426,544	$26.01M	2.5%	$10.72	$11.73	—	COM	35472T101
—	DEUTSCHE HIGH INCOME OPPORT	1,878,803	$24.54M	2.3%	$13.06	$14.27	—	COM	25158Y102
—	ROWAN COMPANIES PLC	1,338,600	$22.69M	2.2%	$16.95	$21.11	—	Put	G7665A101
FXI	ISHARES TR	639,864	$22.58M	2.2%	$35.29	$35.47	—	CHINA LG-CAP ETF	464287184
FCX	FREEPORT-MCMORAN INC	3,322,300	$22.49M	2.1%	$6.77	—	—	Put	35671D857
—	BLACKROCK MULTI-SECTOR INC T	1,357,459	$21.46M	2.0%	$15.81	$17.06	—	COM	09258A107
BZH	BEAZER HOMES USA INC	1,794,100	$20.61M	2.0%	$11.49 *	$16.51	-17.1%	Put	07556Q881
—	MARKET VECTORS ETF TR	1,215,200	$17.8M	1.7%	$14.65	$14.65	—	RUSSIA ETF	57060U506
—	WESTERN ASSET MGD HI INCM FD	3,913,240	$17.69M	1.7%	$4.52	$5.63	—	COM	95766L107
—	DEUTSCHE HIGH INCOME TR	2,188,791	$17.4M	1.7%	$7.95	$8.60	—	SHS	25155R100
—	WESTERN ASSET HGH YLD DFNDFD	1,183,381	$16.69M	1.6%	$14.10	$17.59	—	COM	95768B107
—	MORGAN STANLEY EM MKTS DM DE	2,450,870	$16.67M	1.6%	$6.80	$12.74	—	COM	617477104
—	WESTERN ASSET HIGH INCM OPP	3,182,405	$14.93M	1.4%	$4.69	$5.69	—	COM	95766K109
—	WESTERN ASSET EMRG MKT INCM	1,438,577	$14M	1.3%	$9.73	$12.02	—	COM	95766E103
—	EATON VANCE SH TM DR DIVR IN	993,166	$13.32M	1.3%	$13.41	$13.41	—	COM	27828V104
—	DEUTSCHE MULTI-MKT INCOME TR	1,743,029	$13.32M	1.3%	$7.64	$8.39	—	SHS	25160E102
PBR	PETROLEO BRASILEIRO SA PETRO	2,622,400	$11.28M	1.1%	$4.30	$5.54	—	Put	71654V408
—	WELLS FARGO ADVANTAGE INCOME	1,490,869	$11.11M	1.1%	$7.45	$9.11	—	COM SHS	94987B105
—	MANAGED HIGH YIELD PLUS FD I	6,132,069	$10.79M	1.0%	$1.76	$2.04	—	COM	561911108
—	NEUBERGER BERMAN HGH YLD FD	1,054,630	$10.64M	1.0%	$10.09	$12.89	—	COM	64128C106
—	BROOKFIELD MTG OPP INC FD IN	673,696	$9.937M	0.9%	$14.75	$15.97	—	COM	112792106
—	NOBLE CORP PLC	914,300	$9.646M	0.9%	$10.55	$10.55	—	Put	G65431101
—	CREDIT SUISSE ASSET MGMT INC	3,446,796	$9.582M	0.9%	$2.78	$3.04	—	COM	224916106
—	GLOBAL HIGH INCOME FUND INC	1,123,257	$9.548M	0.9%	$8.50	$10.00	—	COM	37933G108
—	BLACKSTONE GSO LNG SHRT CR I	646,090	$8.709M	0.8%	$13.48	$16.50	—	COM SHS BN INT	09257D102
—	MFS CHARTER INCOME TR	1,089,442	$8.302M	0.8%	$7.62	$8.75	—	SH BEN INT	552727109
—	ABERDEEN ASIA PACIFIC INCOM	1,769,098	$8.085M	0.8%	$4.57	$6.19	—	COM	003009107
—	BLACKROCK CR ALLCTN INC TR	625,032	$7.713M	0.7%	$12.34	$13.72	—	COM	092508100
—	MFS MULTIMARKET INCOME TR	1,357,565	$7.48M	0.7%	$5.51	$6.22	—	SH BEN INT	552737108
—	CHESAPEAKE ENERGY CORP	1,420,000	$6.39M	0.6%	$4.50	—	—	Put	165167107
—	ALLIANCEBERNSTEIN GBL HGH IN	482,245	$5.199M	0.5%	$10.78	$11.85	—	COM	01879R106
—	WESTERN ASSET GLB PTNRS INCO	650,794	$5.031M	0.5%	$7.73	$10.29	—	COM	95766G108
GNW	GENWORTH FINL INC	1,321,500	$4.929M	0.5%	$3.73 *	$8.86	-47.8%	Put	37247D106
—	WESTERN ASSET GLOBAL CP DEFI	307,266	$4.855M	0.5%	$15.80	$18.07	—	COM	95790C107
—	INVESCO HIGH INCOME TR II	360,000	$4.626M	0.4%	$12.85	$14.74	—	COM	46131F101
—	WESTERN ASSET EMRG MKT DEBT	306,177	$4.204M	0.4%	$13.73	$17.54	—	COM	95766A101
—	FRONTIER COMMUNICATIONS CORP	867,558	$4.051M	0.4%	$4.67	$4.74	—	COM	35906A108
—	ANADARKO PETE CORP	82,000	$3.984M	0.4%	$48.59	$48.59	—	COM	032511107
—	ADVENT CLAYMORE ENH GRW & IN	481,443	$3.982M	0.4%	$8.27	$8.26	—	COM	00765E104
—	FIRST TR HIGH INCOME L/S FD	277,830	$3.912M	0.4%	$14.08	$17.20	—	COM	33738E109
—	DEUTSCHE STRATEGIC INCOME TR	364,934	$3.835M	0.4%	$10.51	$11.60	—	SHS	25160F109
—	HCP INC	95,542	$3.654M	0.3%	$38.24	$40.38	—	COM	40414L109
—	LEGG MASON BW GLB INC OPP FD	289,404	$3.351M	0.3%	$11.58	$17.20	—	COM	52469B100
GNW	GENWORTH FINL INC	851,358	$3.176M	0.3%	$3.73 *	$8.86	-47.8%	COM CL A	37247D106
—	MFS INTERMEDIATE HIGH INC FD	1,350,832	$3.134M	0.3%	$2.32	$2.82	—	SH BEN INT	59318T109
PBR	PETROLEO BRASILEIRO SA PETRO	722,000	$3.105M	0.3%	$4.30	$5.54	—	SPONSORED ADR	71654V408
—	BROOKFIELD TOTAL RETURN FD I	127,510	$2.799M	0.3%	$21.95	$21.88	—	COM	11283U108
—	PUTMAN HIGH INCOME SEC FUND	365,665	$2.673M	0.3%	$7.31	$8.33	—	SHS BEN INT	746779107
—	WESTERN ASSET WORLDWIDE INCO	255,656	$2.577M	0.2%	$10.08	$12.37	—	COM	957668106
—	APOLLO TACTICAL INCOME FD IN	183,965	$2.555M	0.2%	$13.89	$17.85	—	COM	037638103
BZH	BEAZER HOMES USA INC	215,510	$2.476M	0.2%	$11.49 *	$16.51	-17.1%	COM NEW	07556Q881
DVN	DEVON ENERGY CORP NEW	64,200	$2.054M	0.2%	$31.99 *	$28.36	0.0%	COM	25179M103
—	PRUDENTIAL GLB SHT DUR HG YL	145,071	$2.053M	0.2%	$14.15	$13.97	—	COM	74433A109
BND	VANGUARD BD INDEX FD INC	23,711	$1.915M	0.2%	$80.76	$80.76	—	TOTAL BND MRKT	921937835
—	DEUTSCHE GLOBAL HIGH INCOME	250,361	$1.89M	0.2%	$7.55	$7.56	—	COM	25158V108
—	DELAWARE INVTS DIV & INCOME	200,830	$1.771M	0.2%	$8.82	$10.27	—	COM	245915103
—	KATE SPADE & CO	82,161	$1.46M	0.1%	$17.77	$18.81	—	COM	485865109
—	IVY HIGH INC OPPORTUNITIES F	108,600	$1.344M	0.1%	$12.38	$14.43	—	COM	465893105
IGSB	ISHARES TR	12,651	$1.323M	0.1%	$104.58	$104.86	—	1-3 YR CR BD ETF	464288646
QLTA	ISHARES TR	22,687	$1.148M	0.1%	$50.60	$51.86	—	A RATE CP BD ETF	46429B291
XXHYBXX	NEW AMER HIGH INCOME FD INC	135,656	$1.039M	0.1%	$7.66	$8.93	—	COM NEW	641876800
—	CENTURYLINK INC	40,648	$1.023M	0.1%	$25.17	$25.17	—	COM	156700106
—	NOBLE CORP PLC	86,249	$910K	0.1%	$10.55	$10.55	—	SHS USD	G65431101
HYG	ISHARES TR	10,414	$839K	0.1%	$80.56	$80.56	—	IBOXX HI YD ETF	464288513
—	OI S.A.	1,324,866	$808K	0.1%	$0.61	$0.61	—	SPN ADR NEW	670851302
—	PACHOLDER HIGH YIELD FD INC	126,806	$770K	0.1%	$6.07	$6.74	—	COM	693742108
LQD	ISHARES TR	6,549	$747K	0.1%	$114.06	$114.06	—	IBOXX INV CP ETF	464287242
—	STRATEGIC GLOBAL INCOME FD	84,432	$740K	0.1%	$8.76	$9.18	—	COM	862719101
IGIB	ISHARES TR	6,493	$697K	0.1%	$107.35	$108.83	—	INTERM CR BD ETF	464288638
—	FIRST TRUST MORTGAGE INCM FD	40,521	$589K	0.1%	$14.54	$15.28	—	COM SHS	33734E103
—	LINN ENERGY LLC	421,300	$543K	0.1%	$1.29	—	—	Put	536020100
UIS	UNISYS CORP	48,560	$537K	0.1%	$11.06 *	$12.66	0.0%	COM NEW	909214306
—	INTERVAL LEISURE GROUP INC	34,053	$532K	0.1%	$15.62	$17.10	—	COM	46113M108
—	NUVEEN QUALITY PFD INC FD 3	57,494	$488K	0.0%	$8.49	$8.30	—	COM	67072W101
—	TEMPLETON EMERG MKTS INCOME	42,734	$426K	0.0%	$9.97	$10.71	—	COM	880192109
—	NUVEEN MULTI MKT INCOME FD	55,358	$393K	0.0%	$7.10	$7.51	—	COM	67075J107
—	DYNEGY INC NEW DEL	731,344	$344K	0.0%	$0.47	$1.76	—	*W EXP 10/02/201	26817R116
—	CLOUGH GLOBAL OPPORTUNITIES	27,143	$283K	0.0%	$10.43	$12.82	—	SH BEN INT	18914E106
—	BLACKROCK LTD DURATION INC T	19,085	$278K	0.0%	$14.57	$14.44	—	COM SHS	09249W101
EMB	ISHARES TR	2,473	$262K	0.0%	$105.94	$109.94	—	JP MOR EM MK ETF	464288281
—	PUTNAM MASTER INTER INCOME T	56,893	$259K	0.0%	$4.55	$4.52	—	SH BEN INT	746909100
AMD	ADVANCED MICRO DEVICES INC	82,700	$237K	0.0%	$2.87	—	—	Put	007903107
—	LMP CAP & INCOME FD INC	18,712	$231K	0.0%	$12.35	$15.04	—	COM	50208A102
—	NUVEEN DIVERSIFIED DIV INCM	15,767	$171K	0.0%	$10.85	$11.19	—	COM	6706EP105
—	DELAWARE ENHANCED GBL DIV &	15,555	$145K	0.0%	$9.32	$11.90	—	COM	246060107
—	MERITOR INC	15,295	$128K	0.0%	$8.37	$12.61	—	COM	59001K100
—	COMMUNITY HEALTH SYS INC NEW	795,108	$7,000	0.0%	$0.01	$0.06	—	RIGHT 99/99/9999	203668116