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
AETNA INC NEW COM 00817Y108 733 6,000 SH   DFND 1 0 6,000 0
ALPS ETF TR ALERIAN MLP 00162Q866 331 26,042 SH   DFND 1 0 26,042 0
AMC ENTMT HLDGS INC CL A COM 00165C104 218 7,885 SH   DFND 1 0 7,885 0
APOLLO INVT CORP COM 03761U106 293 52,930 SH   DFND 1 0 52,930 0
APOLLO SR FLOATING RATE FD I COM 037636107 788 49,893 SH   DFND 1 0 49,893 0
APOLLO TACTICAL INCOME FD IN COM 037638103 500 34,649 SH   DFND 1 0 34,649 0
APPLE INC COM 037833100 1,589 16,622 SH   DFND 1 0 16,622 0
ARES CAP CORP COM 04010L103 1,076 75,778 SH   DFND 1 0 75,778 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 219 15,960 SH   DFND 1 0 15,960 0
ATLANTIC ALLIANCE PARTNER CO SHS G04897107 4,830 464,828 SH   DFND 1 0 464,828 0
AUTOBYTEL INC COM NEW 05275N205 209 15,052 SH   DFND 1 0 15,052 0
BAZAARVOICE INC COM 073271108 245 61,054 SH   DFND 1 0 61,054 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 217 1 SH   DFND 1 0 1 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 517 3,571 SH   DFND 1 0 3,571 0
BLACKROCK CAPITAL INVESTMENT COM 092533108 353 45,412 SH   DFND 1 0 45,412 0
BLACKSTONE GSO FLTING RTE FU COM 09256U105 159 10,000 SH   DFND 1 0 10,000 0
BP PLC SPONSORED ADR 055622104 305 8,601 SH   DFND 1 0 8,601 0
BROADWIND ENERGY INC COM NEW 11161T207 2,448 580,000 SH   DFND 1 0 580,000 0
BROOKFIELD MTG OPP INC FD IN COM 112792106 297 19,971 SH   DFND 1 0 19,971 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 239 10,345 SH   DFND 1 0 10,345 0
BRT RLTY TR SH BEN INT NEW 055645303 45 49,089 SH   DFND 1 0 49,089 0
CADIZ INC COM NEW 127537207 109 18,491 SH   DFND   0 18,491 0
COHEN & STEERS LTD DUR PFD I COM 19248C105 711 29,251 SH   DFND 1 0 29,251 0
DICKS SPORTING GOODS INC COM 253393102 218 4,841 SH   DFND 1 0 4,841 0
DIGITAL TURBINE INC COM NEW 25400W102 542 506,283 SH   DFND   0 506,283 0
DIGITAL TURBINE INC COM NEW 25400W102 1,691 1,580,000 SH   DFND 1 0 1,580,000 0
DISNEY WALT CO COM DISNEY 254687106 244 2,490 SH   DFND 1 0 2,490 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 1,792 97,637 SH   DFND 1 0 97,637 0
DTS INC COM 23335C101 212 8,033 SH   DFND 1 0 8,033 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 325 22,590 SH   DFND 1 0 22,590 0
FACEBOOK INC CL A 30303M102 300 2,623 SH   DFND 1 0 2,623 0
FIRST TR ENERGY INCOME & GRW COM 33738G104 244 9,561 SH   DFND 1 0 9,561 0
GARRISON CAP INC COM 366554103 752 74,555 SH   DFND 1 0 74,555 0
GENERAL ELECTRIC CO COM 369604103 205 6,517 SH   DFND 1 0 6,517 0
GOLDMAN SACHS MLP INCOME OPP FD COM SHS 38147W103 747 79,899 SH   DFND 1 0 79,899 0
GROUPON INC COM CL A 399473107 46 14,000 SH   DFND 1 0 14,000 0
HC2 HLDGS INC COM 404139107 216 50,224 SH   DFND   0 50,224 0
HC2 HLDGS INC COM 404139107 1,462 340,000 SH   DFND 1 0 340,000 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 1,202 65,812 SH   DFND 1 0 65,812 0
HP INC COM 40434L105 2,225 177,261 SH   DFND 1 0 177,261 0
HUDSON TECHNOLOGIES INC COM 444144109 134 37,334 SH   DFND   0 37,334 0
INTERSIL CORP CL A 46069S109 216 15,988 SH   DFND 1 0 15,988 0
ISHARES MSCI BRZ CAP ETF 464286400 255 8,449 SH   DFND 1 0 8,449 0
ISHARES MIN VOL GBL ETF 464286525 1,795 23,502 SH   DFND 1 0 23,502 0
ISHARES TR LATN AMER 40 ETF 464287390 203 7,721 SH   DFND 1 0 7,721 0
ISHARES TR NEW YORK MUN ETF 464288323 1,400 12,144 SH   DFND 1 0 12,144 0
ISHARES TR INTL SEL DIV ETF 464288448 1,593 55,637 SH   DFND 1 0 55,637 0
ISHARES TR CORE US AGGBD ET 464287226 216 1,917 SH   DFND 1 0 1,917 0
ISHARES TR RUS 1000 VAL ETF 464287598 209 2,026 SH   DFND 1 0 2,026 0
ISHARES TR CORE S&P MCP ETF 464287507 480 3,216 SH   DFND 1 0 3,216 0
ISHARES TR RUS 1000 GRW ETF 464287614 382 3,810 SH   DFND 1 0 3,810 0
ISHARES TR GLOBAL MATER ETF 464288695 240 4,891 SH   DFND 1 0 4,891 0
ISHARES TR NATIONAL MUN ETF 464288414 849 7,450 SH   DFND 1 0 7,450 0
ISHARES TR MSCI ACWI EX US 464288240 313 8,025 SH   DFND 1 0 8,025 0
ISHARES TR JP MOR EM MK ETF 464288281 1,229 10,671 SH   DFND 1 0 10,671 0
ISHARES TR IBOXX INV CP ETF 464287242 1,360 11,077 SH   DFND 1 0 11,077 0
ISHARES TR SELECT DIVID ETF 464287168 1,104 12,945 SH   DFND 1 0 12,945 0
ISHARES TR RUS MID-CAP ETF 464287499 2,560 15,218 SH   DFND 1 0 15,218 0
ISHARES TR MSCI EMG MKT ETF 464287234 564 16,408 SH   DFND 1 0 16,408 0
ISHARES TR MSCI EAFE ETF 464287465 1,464 26,221 SH   DFND 1 0 26,221 0
ISHARES TR NASDQ BIOTEC ETF 464287556 347 1,347 SH   DFND 1 0 1,347 0
ISHARES TR FLTG RATE BD ETF 46429B655 234 4,629 SH   DFND 1 0 4,629 0
ISHARES TR MIN VOL EAFE ETF 46429B689 500 7,530 SH   DFND 1 0 7,530 0
ISHARES TR MIN VOL USA ETF 46429B697 946 20,467 SH   DFND 1 0 20,467 0
ISHARES TR RUSSELL 2000 ETF 464287655 18,489 160,800 SH Put DFND 1 0 160,800 0
JOHNSON & JOHNSON COM 478160104 272 2,242 SH   DFND 1 0 2,242 0
KEMET CORP COM NEW 488360207 41 14,028 SH   DFND   0 14,028 0
KEMET CORP COM NEW 488360207 4,805 1,640,000 SH   DFND 1 0 1,640,000 0
KIRKLANDS INC COM 497498105 238 16,223 SH   DFND 1 0 16,223 0
KRATOS DEFENSE & SEC SOLUTIONS COM NEW 50077B207 197 48,043 SH   DFND 1 0 48,043 0
LADENBURG THALMAN FIN SVCS INC COM 50575Q102 6 81,050 SH   DFND 1 0 81,050 0
LINDBLAD EXPEDITIONS HLDGS I COM 535219109 184 19,100 SH   DFND 1 0 19,100 0
LUMENTUM HLDGS INC COM 55024U109 201 8,306 SH   DFND 1 0 8,306 0
MALIBU BOATS INC COM CL A 56117J100 180 14,924 SH   DFND 1 0 14,924 0
MATTEL INC COM 577081102 213 6,822 SH   DFND 1 0 6,822 0
MICROSOFT CORP COM 594918104 1,873 36,611 SH   DFND 1 0 36,611 0
MONSTER WORLDWIDE INC COM 611742107 275 115,000 SH   DFND   0 115,000 0
MONSTER WORLDWIDE INC COM 611742107 239 100,000 SH Call DFND 1 0 100,000 0
NATIONAL HOLDINGS CORP COM NEW 636375206 787 262,326 SH   DFND   0 262,326 0
NAVISTAR INTL CORP NEW NOTE 4.500%10/1 63934EAQ1 39 58,000 PRN   DFND   0 58,000 0
NAVISTAR INTL CORP NEW NOTE 4.750% 4/1 63934EAS7 66 114,000 PRN   DFND   0 114,000 0
NEWTEK BUSINESS SVCS CORP COM NEW 652526203 175 13,766 SH   DFND 1 0 13,766 0
NIELSEN HLDGS PLC SHS EUR G6518L108 281 5,400 SH   DFND 1 0 5,400 0
NOVAVAX INC COM 670002104 76 10,500 SH   DFND 1 0 10,500 0
NUVEEN AMT-FREE MUN INCOME F COM 670657105 188 12,500 SH   DFND 1 0 12,500 0
NUVEEN BUILD AMER BD FD COM 67074C103 591 25,923 SH   DFND 1 0 25,923 0
NUVEEN MTG OPPORTUNITY TERM COM 670735109 225 9,733 SH   DFND 1 0 9,733 0
NUVEEN MUN VALUE FD INC COM 670928100 160 14,800 SH   DFND 1 0 14,800 0
OCLARO INC COM NEW 67555N206 214 43,803 SH   DFND 1 0 43,803 0
ON SEMICONDUCTOR CORP COM 682189105 351 39,779 SH   DFND 1 0 39,779 0
ONE LIBERTY PPTYS INC COM 682406103 115 15,173 SH   DFND 1 0 15,173 0
PDL BIOPHARMA INC NOTE 4.000% 2/0 69329YAF1 47 50,000 PRN   DFND   0 50,000 0
PENNANTPARK FLOATING RATE CAP LTD COM 70806A106 2,230 179,820 SH   DFND 1 0 179,820 0
PENNANTPARK INVT CORP COM 708062104 2,175 318,479 SH   DFND 1 0 318,479 0
PENNEY J C INC COM 708160106 218 24,523 SH   DFND 1 0 24,523 0
PFIZER INC COM 717081103 250 7,096 SH   DFND 1 0 7,096 0
PIMCO ETF TR SHTRM MUN BD ACT 72201R874 201 3,972 SH   DFND 1 0 3,972 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 4,275 42,254 SH   DFND 1 0 42,254 0
PIMCO ETF TR LOW DURTN AC ETF 72201R718 609 6,063 SH   DFND 1 0 6,063 0
POWERSHARES ETF TR II PFD PORTFOLIO 73936T565 361 23,701 SH   DFND 1 0 23,701 0
POWERSHARES ETF TRUST DYN BIOT & GEN 73935X856 202 5,474 SH   DFND 1 0 5,474 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 819 7,613 SH   DFND 1 0 7,613 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 18,282 170,000 SH Put DFND 1 0 170,000 0
PRGX GLOBAL INC COM NEW 69357C503 2,342 448,595 SH   DFND   0 448,595 0
PRGX GLOBAL INC COM NEW 69357C503 2,949 565,000 SH   DFND 1 0 565,000 0
PROVIDENT FINL SVCS INC COM 74386T105 246 12,500 SH   DFND 1 0 12,500 0
RENEWABLE ENERGY GROUP INC MTNF 2.750% 6/1 75972AAA1 28 31,000 PRN   DFND   0 31,000 0
ROVI CORP COM 779376102 207 13,230 SH   DFND 1 0 13,230 0
ROVI CORP COM 779376102 1,596 102,060 SH   DFND   0 102,060 0
SCHLUMBERGER LTD COM 806857108 235 2,969 SH   DFND 1 0 2,969 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 269 3,440 SH   DFND 1 0 3,440 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 339 4,729 SH   DFND 1 0 4,729 0
SKYWORKS SOLUTIONS INC COM 83088M102 205 3,239 SH   DFND 1 0 3,239 0
SOLAR CAP LTD COM 83413U100 307 16,109 SH   DFND 1 0 16,109 0
SOLAR SR CAP LTD COM 83416M105 4,481 278,153 SH   DFND 1 0 278,153 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 679 3,796 SH   DFND 1 0 3,796 0
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 797 21,468 SH   DFND 1 0 21,468 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,774 8,470 SH   DFND 1 0 8,470 0
SPLUNK INC COM 848637104 519 9,579 SH   DFND 1 0 9,579 0
SYSOREX GLOBAL COM NEW 87184N203 188 357,612 SH   DFND   0 357,612 0
SYSOREX GLOBAL COM NEW 87184N203 348 660,801 SH   DFND 1 0 660,801 0
TELENAV INC COM 879455103 3,307 648,461 SH   DFND 1 0 648,461 0
THL CR INC COM 872438106 336 30,200 SH   DFND 1 0 30,200 0
TITAN MACHY INC NOTE 3.750% 5/0 88830RAB7 62 77,000 PRN   DFND   0 77,000 0
TORTOISE MLP FD INC COM 89148B101 595 32,235 SH   DFND 1 0 32,235 0
TRANSACT TECHNOLOGIES INC COM 892918103 226 28,118 SH   DFND 1 0 28,118 0
UNITED ONLINE INC COM NEW 911268209 8,079 734,434 SH   DFND   0 734,434 0
UNITED ONLINE INC COM NEW 911268209 7,621 692,794 SH   DFND 1 0 692,794 0
URBAN EDGE PPTYS COM 91704F104 454 15,215 SH   DFND 1 0 15,215 0
VANGUARD INDEX FDS LARGE CAP ETF 922908637 6,346 66,204 SH   DFND 1 0 66,204 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 1,651 15,404 SH   DFND 1 0 15,404 0
VANGUARD INDEX FDS MID CAP ETF 922908629 2,611 21,122 SH   DFND 1 0 21,122 0
VANGUARD INDEX FDS GROWTH ETF 922908736 268 2,502 SH   DFND 1 0 2,502 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,476 41,904 SH   DFND 1 0 41,904 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 262 6,104 SH   DFND 1 0 6,104 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 500 10,716 SH   DFND 1 0 10,716 0
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 2,290 46,284 SH   DFND 1 0 46,284 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 800 8,464 SH   DFND 1 0 8,464 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 2,442 27,309 SH   DFND 1 0 27,309 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,361 41,576 SH   DFND 1 0 41,576 0
VANGUARD SPECIALIZED PORTFOLIO DIV APP ETF 921908844 1,347 16,180 SH   DFND 1 0 16,180 0
VANGUARD STAR FD VG TL INTL STK F 921909768 229 5,153 SH   DFND 1 0 5,153 0
VIASAT INC COM 92552V100 203 2,839 SH   DFND 1 0 2,839 0
VISHAY PRECISION GROUP INC COM 92835K103 214 15,939 SH   DFND 1 0 15,939 0
WEB COM GROUP INC COM 94733A104 212 11,650 SH   DFND 1 0 11,650 0
WESTPORT FUEL SYSTEMS INC COM NEW 960908309 531 317,870 SH   DFND   0 317,870 0
WESTPORT FUEL SYSTEMS INC COM NEW 960908309 2,171 1,300,000 SH   DFND 1 0 1,300,000 0
WISDOMTREE TR GLB NAT RES FD 97717W711 301 23,604 SH   DFND 1 0 23,604 0