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 ASIA PACIFIC INCOM COM 003009107 102 22,280 SH   SOLE   22,280 0 0
ABERDEEN GLOBAL INCOME FD IN COM 003013109 81 10,578 SH   SOLE   10,578 0 0
ADVENT CLAY CONV SEC INC FD COM 007639107 102 18,450 SH   SOLE   18,450 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06742E711 15,911 791,600 SH Put SOLE   791,600 0 0
BLACKROCK DEBT STRAT FD INC COM 09255R103 90 26,702 SH   SOLE   26,702 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 86 30,780 SH   SOLE   30,780 0 0
DEUTSCHE MULTI-MKT INCOME TR SHS 25160E102 89 11,672 SH   SOLE   11,672 0 0
FREEPORT-MCMORAN INC CL B 35671D857 745 110,000 SH Call SOLE   110,000 0 0
GENERAL MTRS CO COM 37045V100 5,020 147,600 SH Call SOLE   147,600 0 0
HERBALIFE LTD COM USD SHS G4412G101 3,823 71,300 SH   SOLE   71,300 0 0
HERBALIFE LTD NOTE 2.000% 8/1 42703MAB9 2,111 2,500,000 PRN   SOLE   2,500,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 16,057 455,000 SH Put SOLE   455,000 0 0
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 26 431,600 SH   SOLE   431,600 0 0
MANAGED HIGH YIELD PLUS FD I COM 561911108 92 52,452 SH   SOLE   52,452 0 0
MGIC INVT CORP WIS NOTE 2.000% 4/0 552848AE3 3,456 2,500,000 PRN   SOLE   2,500,000 0 0
MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 57,144 30,000,000 PRN   SOLE   30,000,000 0 0
MORGAN STANLEY EM MKTS DM DE COM 617477104 101 14,830 SH   SOLE   14,830 0 0
PACHOLDER HIGH YIELD FD INC COM 693742108 81 13,425 SH   SOLE   13,425 0 0
PROSHARES TR II ULT VIX SHRT 74347W312 1,474 52,000 SH Put SOLE   52,000 0 0
TESLA MTRS INC NOTE 1.250% 3/0 88160RAC5 2,757 3,000,000 PRN   SOLE   3,000,000 0 0
TESLA MTRS INC NOTE 1.500% 6/0 88160RAA9 24,490 12,500,000 PRN   SOLE   12,500,000 0 0
TIME WARNER CABLE INC COM 88732J207 9,280 50,000 SH Call SOLE   50,000 0 0
WAL-MART STORES INC COM 931142103 15,601 254,500 SH Call SOLE   254,500 0 0
WESTERN ASSET EMRG MKT INCM COM 95766E103 102 10,500 SH   SOLE   10,500 0 0
WESTERN ASSET HIGH INCM OPP COM 95766K109 88 18,717 SH   SOLE   18,717 0 0