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

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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
AGNC INVT CORP COM 00123Q104 1,989 100,000 SH   DFND 1 100,000 0 0
AMERICAN CAP SR FLOATING LTD COM 02504D108 6,848 498,053 SH   DFND 1 498,053 0 0
ARES CAP CORP COM 04010L103 30,461 1,752,618 SH   DFND 1 1,752,618 0 0
CYS INVTS INC COM 12673A108 19,098 2,402,253 SH   DFND 1 2,402,253 0 0
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 1,168 59,415 SH   DFND 1 59,415 0 0
ISHARES TR PUT 464287955 1,020 18,000 SH Put DFND 1 18,000 0 0
KCAP FINL INC COM 48668E101 5,607 1,377,559 SH   DFND 1 1,377,559 0 0
NAVIOS MARITIME HLDGS INC SPN ADR RP PFD G 63938Y100 1,579 100,000 SH   DFND 1 100,000 0 0
NAVIOS MARITIME HLDGS INC SPON ADR PFD H 63938Y308 2,061 131,000 SH   DFND 1 131,000 0 0
NAVIOS MARITIME PARTNERS L P UNIT LPI Y62267102 6,433 3,107,846 SH   DFND 1 3,107,846 0 0
PENNANTPARK FLOATING RATE CA COM 70806A106 10,455 750,000 SH   DFND 1 750,000 0 0
PENNANTPARK INVT CORP COM 708062104 10,175 1,250,000 SH   DFND 1 1,250,000 0 0
SHIP FINANCE INTERNATIONAL L NOTE 5.750%10/1 G81075AF3 2,979 3,000,000 PRN   DFND 1 3,000,000 0 0
STONECASTLE FINL CORP COM 861780104 3,722 184,605 SH   DFND 1 184,605 0 0
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 1,755 100,000 SH   DFND 1 100,000 0 0
THL CR INC COM 872438106 2,128 213,612 SH   DFND 1 213,612 0 0
TRIANGLE CAP CORP COM 895848109 1,909 100,000 SH   DFND 1 100,000 0 0
UNITED STATES OIL FUND LP UNITS 91232N108 334 10,000 SH Put DFND 1 10,000 0 0