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
AngioDynamics Inc Common Stock 03475V101 11,708 615,866 SH   DFND   615,866 0 0
Enbridge Inc Common Stock 29250N105 36,774 715,300 SH   DFND   715,300 0 0
American Water Works Co Inc Common Stock 030420103 36,734 689,200 SH   DFND   689,200 0 0
TransCanada Corp Common Stock 89353D107 25,365 516,600 SH   DFND   516,600 0 0
Norfolk Southern Corp Common Stock 655844108 24,235 221,100 SH   DFND   221,100 0 0
Brookfield Infrastructure Part MLP G16252101 23,516 561,655 SH   DFND   561,655 0 0
Sempra Energy Common Stock 816851109 19,499 175,100 SH   DFND   175,100 0 0
Republic Services Inc Common Stock 760759100 17,778 441,700 SH   DFND   441,700 0 0
Union Pacific Corp Common Stock 907818108 17,715 148,700 SH   DFND   148,700 0 0
Williams Cos Inc/The Common Stock 969457100 16,982 377,891 SH   DFND   377,891 0 0
Consolidated Edison Inc Common Stock 209115104 13,209 200,100 SH   DFND   200,100 0 0
AVG Technologies NV Common Stock N07831105 12,571 636,844 SH   DFND   636,844 0 0
Plains GP Holdings LP MLP 72651A108 11,967 466,000 SH   DFND   466,000 0 0
KKR & Co LP MLP 48248M102 11,829 509,636 SH   DFND   509,636 0 0
American Capital Ltd Common Stock 02503Y103 11,582 792,746 SH   DFND   792,746 0 0
Atmos Energy Corp Common Stock 049560105 10,797 193,700 SH   DFND   193,700 0 0
ServiceMaster Global Holdings Common Stock 81761R109 10,706 399,924 SH   DFND   399,924 0 0
CenterPoint Energy Inc Common Stock 15189T107 10,066 429,600 SH   DFND   429,600 0 0
Enterprise Products Partners L MLP 293792107 9,326 258,200 SH   DFND   258,200 0 0
ITC Holdings Corp Common Stock 465685105 8,276 204,700 SH   DFND   204,700 0 0
Plains All American Pipeline L MLP 726503105 7,955 155,000 SH   DFND   155,000 0 0
Energy Transfer Equity LP MLP 29273V100 5,652 98,500 SH   DFND   98,500 0 0
Magellan Midstream Partners LP MLP 559080106 5,571 67,400 SH   DFND   67,400 0 0
Kinder Morgan Inc/DE Common Stock 49456B101 5,493 129,837 SH   DFND   129,837 0 0
Carlyle Group LP/The MLP 14309L102 5,262 191,347 SH   DFND   191,347 0 0
Apollo Global Management LLC MLP 037612306 3,743 158,742 SH   DFND   158,742 0 0
EXCO Resources Inc Common Stock 269279402 3,598 1,657,894 SH   DFND   1,657,894 0 0
Spectra Energy Corp Common Stock 847560109 3,485 96,000 SH   DFND   96,000 0 0
Williams Partners LP MLP 96950F104 1,884 42,100 SH   DFND   42,100 0 0
Ares Capital Corp Common Stock 04010L103 1,253 80,300 SH   DFND   80,300 0 0
Workday Inc Common Stock 98138H101 1,092 13,377 SH   DFND   13,377 0 0
ONEOK Inc Common Stock 682680103 996 20,000 SH   DFND   20,000 0 0
Fifth Street Finance Corp Common Stock 31678A103 825 103,000 SH   DFND   103,000 0 0
Ardelyx Inc Common Stock 039697107 741 39,204 SH   DFND   39,204 0 0
PennantPark Investment Corp Common Stock 708062104 697 73,100 SH   DFND   73,100 0 0
Apollo Investment Corp Common Stock 03761U106 643 86,650 SH   DFND   86,650 0 0
Two Harbors Investment Corp REIT 90187B101 539 53,800 SH   DFND   53,800 0 0
Mid-America Apartment Communit REIT 59522J103 433 5,800 SH   DFND   5,800 0 0
New Mountain Finance Corp Common Stock 647551100 381 25,500 SH   DFND   25,500 0 0
BlackRock Kelso Capital Corp Common Stock 092533108 350 42,700 SH   DFND   42,700 0 0
STAG Industrial Inc REIT 85254J102 341 13,900 SH   DFND   13,900 0 0
CYS Investments Inc REIT 12673A108 330 37,900 SH   DFND   37,900 0 0
Prospect Capital Corp Common Stock 74348T102 274 33,200 SH   DFND   33,200 0 0
Solar Capital Ltd Common Stock 83413U100 193 10,700 SH   DFND   10,700 0 0
BABA PUT 01609W952 44,694 430,000 SH Put DFND   430,000 0 0