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 FUND INC COM 00301W105 495 66,238 SH   DFND 2 495 0 0
ALLIANCE WRLD DLR G F II COM 01879R106 1,072 85,345 SH   DFND 2 1,072 0 0
AMERICA MOVIL S A DE C V SHS 02364W204 698 34,371 SH   DFND 2 698 0 0
AVIV REIT INC COM 05381L101 2,961 81,124 SH   DFND 2 2,961 0 0
BLACKROCK DEBT STRATEGIES FD COM 09255R103 315 84,629 SH   DFND 2 315 0 0
BLACKROCK INTERNATIONAL GROW COM BENE INTER 092524107 349 49,269 SH   DFND 2 349 0 0
CATAMARAN CORP COM 148887102 595 10,000 SH   DFND 2 595 0 0
CITY NATIONAL CORP COM 178566105 1,724 19,360 SH   DFND 2 1,724 0 0
CLEARBRIDGE ENERGY MLP FUND COM 184692101 294 11,793 SH   DFND 2 294 0 0
CLEARBRIDGE ENERGY MLP OPPOR COM 18469P100 764 36,456 SH   DFND 2 764 0 0
DIRECTV COM 25490A309 7,871 92,493 SH   DFND 2 7,871 0 0
DYNEGY INC COM 26817R108 592 18,836 SH   DFND 2 592 0 0
EATON VANCE RISK-MANAGED DIV COM 27829G106 475 43,917 SH   DFND 2 475 0 0
EATON VANCE TAX-MANAGED DIVE COM 27828N102 280 24,700 SH   DFND 2 280 0 0
ENBRIDGE ENERGY PARTNERS COM 29250R106 2,727 75,751 SH   DFND 2 2,727 0 0
EPR PROPERTIES C CNV 5.75% 26884U208 1,422 58,603 SH   DFND 2 1,422 0 0
EXELIS INC COM 30162A108 1,873 76,879 SH   DFND 2 1,873 0 0
FIAT CHRYSLER AUTOMOBILE N MAN COV SEC 16 N31738110 1,826 13,254 SH   DFND 2 1,826 0 0
FIRST TRUST ENERGY INCOME AN COM 33738G104 373 10,907 SH   DFND 2 373 0 0
GENERAL MOTORS CO *W EXP 07/10/201 37045V118 1,330 47,949 SH   DFND 2 1,330 0 0
GENERAL MOTORS CO *W EXP 07/10/201 37045V126 5,966 303,625 SH   DFND 2 5,966 0 0
HAWAIIAN ELEC INDS INC COM 419870100 4,721 146,981 SH   DFND 2 4,721 0 0
INTEGRYS ENERGY GROUP INC COM 45822P105 1,008 14,000 SH   DFND 2 1,008 0 0
INVESCO DYNAMIC CREDIT OPP COM 46132R104 207 17,322 SH   DFND 2 207 0 0
ISHARES CORE MSCI EMERGING CORE MSCI EMKT 46434G103 576 11,929 SH   DFND 2 576 0 0
ISHARES IBOXX HIGH YIELD COR ETF 464288513 3,077 33,966 SH   DFND 2 3,077 0 0
ISHARES INC ETF 464286731 517 32,901 SH   DFND 2 517 0 0
ISHARES MSCI HONG KONG ETF ETF 464286871 417 19,036 SH   DFND 2 417 0 0
ISHARES MSCI SINGAPORE ETF ETF 464286673 421 32,923 SH   DFND 2 421 0 0
JETBLUE AIRWAYS CORP DEBENTURES 5.500CTOBER 15 2038 DBCV 5.500%10/1 477143AE1 43,356 100,000 SH   DFND 2 43,356 0 0
JOURNAL COMMUNICATIONS INC-A CL A 481130102 3,270 220,698 SH   DFND 2 3,270 0 0
JPMORGAN CHASE & CO COM 46625H100 1,158 19,131 SH   DFND 2 1,158 0 0
LIBERTY ALL-STAR GROWTH FD COM 529900102 236 45,444 SH   DFND 2 236 0 0
MARKET VECTORS INDONESIA IND ETF 57060U753 563 22,857 SH   DFND 2 563 0 0
MORGAN STANLEY CHINA A SHARE COM 617468103 671 20,401 SH   DFND 2 671 0 0
NATL HEALTHCARE CORP PFD CONV SER A 635906209 932 58,924 SH   DFND 2 932 0 0
NEXTERA ENERGY INC UNIT 09/01/2015 65339F887 38,648 590,691 SH   DFND 2 38,648 0 0
NUVEEN NAS100 DYN OVERWRT FD SHS 670699107 695 37,101 SH   DFND 2 695 0 0
OFFICE DEPOT INC COM 676220106 414 45,095 SH   DFND 2 414 0 0
OMNICARE CAP TRUST II PFD B TR 4.00% 68214Q200 14,361 150,933 SH   DFND 2 14,361 0 0
PIMCO DYNAMIC CREDIT INCOME SHS 72202D106 510 25,021 SH   DFND 2 510 0 0
PNC FINANCIAL SERVICES GROUP *W EXP 12/31/201 693475121 990 37,791 SH   DFND 2 990 0 0
POWERSHARES FDMNL H/Y CORP B FDM HG YLD RAFI 73936T557 230 12,150 SH   DFND 2 230 0 0
POWERSHARES SENIOR LOAN SENIOR LN PORT 73936Q769 675 28,030 SH   DFND 2 675 0 0
RAMCO-GERSHENSON PROPERT PERP PFD-D CV 751452608 8,719 130,740 SH   DFND 2 8,719 0 0
REGENCY ENERGY PARTNERS LP COM UNITS L P 75885Y107 3,504 153,230 SH   DFND 2 3,504 0 0
RTI INTERNATIONAL METALS INC COM 74973W107 1,275 35,526 SH   DFND 2 1,275 0 0
SOUTHWESTERN ENERGY CO DEP SHS 1/20 B 845467208 1,531 30,394 SH   DFND 2 1,531 0 0
SPDR NUVEEN S&P HIGH YIELD M NUV HGHYLD MUN 78464A284 818 14,214 SH   DFND 2 818 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 215 22,016 SH   DFND 2 215 0 0
SPROTT PHYSICAL SILVER TRUST TR UNIT 85207K107 371 57,401 SH   DFND 2 371 0 0
SUSQUEHANNA BANCSHARES INC COM 869099101 1,188 86,664 SH   DFND 2 1,188 0 0
TELECOM ITALIA SPA-SPON ADR SPON ADR SVGS 87927Y201 254 27,323 SH   DFND 2 254 0 0
T-Mobile US Inc CONV PFD SER A 872590203 2,119 36,126 SH   DFND 2 2,119 0 0
TORTOISE MLP FUND INC COM 89148B101 360 14,999 SH   DFND 2 360 0 0
TRIPADVISOR INC COM 896945201 1,348 16,215 SH   DFND 2 1,348 0 0
UNILEVER PLC NEW ADR ADR 904767704 2,466 59,131 SH   DFND 2 2,466 0 0
UNITED TECHNOLOGIES CORP UNIT 06/01/2015 913017117 9,305 151,215 SH   DFND 2 9,305 0 0
WESTERN ASSET HIGH INCOME OP COM 95766K109 669 125,789 SH   DFND 2 669 0 0
WISDOMTREE INDIA EARNINGS INDIA ERNGS FD 97717W422 239 10,492 SH   DFND 2 239 0 0
WRIGHT MEDICAL GROUP INC COM 98235T107 385 14,943 SH   DFND 2 385 0 0