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        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SALE OF WHITESIDE ENERGY OFFSHORE LTD.</PropertyDesc>
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        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
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        <CapitalGainNetIncomeAmt>796247</CapitalGainNetIncomeAmt>
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        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
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        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
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      <StatementsRegardingActyGrp>
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        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>AFO LLC - RICHARD KOHAN</BusinessNameLine1Txt>
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          <PersonNm>SARAH ARISON</PersonNm>
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            <AddressLine1Txt>TWO ALHAMBRA PLAZA</AddressLine1Txt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOHN J O'NEIL</PersonNm>
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            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
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          <TitleTxt>AVP/ASSISTANT TREASURER</TitleTxt>
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          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>HARRY HERSH</PersonNm>
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            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
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          <TitleTxt>EXECUTIVE VICE PRESIDENT</TitleTxt>
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          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARILYN B ARISON</PersonNm>
          <USAddress>
            <AddressLine1Txt>TWO ALHAMBRA PLAZA</AddressLine1Txt>
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            <CityNm>CORAL GABLES</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33134</ZIPCd>
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          <TitleTxt>CHAIRMAN</TitleTxt>
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          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RICHARD L KOHAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>TWO ALHAMBRA PLAZA</AddressLine1Txt>
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            <StateAbbreviationCd>FL</StateAbbreviationCd>
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          <TitleTxt>AVP/TREASURER/SECRETARY</TitleTxt>
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          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>WELLS FARGO BANK N A</PersonNm>
          <USAddress>
            <AddressLine1Txt>200 SOUTH BISCAYNE BLVD 15TH FL</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33131</ZIPCd>
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          <TitleTxt>TRUSTEE</TitleTxt>
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          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>Bahl &amp; Gaynor</BusinessNameLine1Txt>
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          <USAddress>
            <AddressLine1Txt>255 E 5TH ST 2700</AddressLine1Txt>
            <CityNm>CINCINNATI</CityNm>
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        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>EAGLE CAPITAL MANAGEMENT</BusinessNameLine1Txt>
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          <USAddress>
            <AddressLine1Txt>3850 NORTH CAUSEWAY BOULEVARD SUITE</AddressLine1Txt>
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        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>THE NORTHERN TRUST COMPANY</BusinessNameLine1Txt>
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          <USAddress>
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        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>SEIX ADVISORS</BusinessNameLine1Txt>
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        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>UBS GLOBAL ASSET MANAGEMENT</BusinessNameLine1Txt>
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      <SummaryOfDirectChrtblActyGrp>
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      <SumOfProgramRelatedInvstGrp />
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          <RecipientBusinessName>
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          <RecipientUSAddress>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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          <RecipientBusinessName>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33136</ZIPCd>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FAENA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3201 COLLINS AVENUE FAENA DISTRICT</AddressLine1Txt>
            <CityNm>MIAMI BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33140</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FIND YOUR LIGHT FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>27702 CROWN VALLEY PKWY SUITE D4 3</AddressLine1Txt>
            <CityNm>LADERA RANCH</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92694</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>60000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FRIENDS OF THE BASS MUSEUM INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2100 COLLINS AVENUE</AddressLine1Txt>
            <CityNm>MIAMI BEACH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33139</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>INSTITUTE OF CLASSICAL ARCHITECTURE &amp; ART</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2O WEST 44TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10036</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SOCIAL &amp; ENVIRONMENTAL ENTREPRENEURS - LWF</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
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            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91302</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIAMI CITY BALLET</BusinessNameLine1Txt>
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          <RecipientUSAddress>
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            <StateAbbreviationCd>FL</StateAbbreviationCd>
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          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>500000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIAMI THEATER CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
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            <StateAbbreviationCd>FL</StateAbbreviationCd>
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          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MUSEUM OF MODERN ART</BusinessNameLine1Txt>
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          <RecipientUSAddress>
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            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEW WORLD SYMPHONY</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>LOTUS HOUSE 217 NW 15TH ST</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33136</ZIPCd>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>243718</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NEW YORK LIVE ARTS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>219 W 19TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10011</ZIPCd>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
          <Amt>505000</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OPERALIA U S A INC</BusinessNameLine1Txt>
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          <RecipientUSAddress>
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            <AddressLine2Txt>SUITE 103</AddressLine2Txt>
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            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91302</ZIPCd>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PERFORMA INC</BusinessNameLine1Txt>
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          <RecipientUSAddress>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL SUPPORT</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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          <RecipientUSAddress>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
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        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
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        <EOYFMVAmt>0</EOYFMVAmt>
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        <EOYFMVAmt>294048</EOYFMVAmt>
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        <EOYFMVAmt>0</EOYFMVAmt>
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        <EOYFMVAmt>195380</EOYFMVAmt>
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      <InvestmentsCorporateBondsGrp>
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        <EOYFMVAmt>26274298</EOYFMVAmt>
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      <InvestmentsCorporateBondsGrp>
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        <EOYFMVAmt>3786479</EOYFMVAmt>
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      <InvestmentsOtherGrp>
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        <EOYFMVAmt>3202265</EOYFMVAmt>
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      <InvestmentsOtherGrp>
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        <EOYFMVAmt>0</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BASSO INVESTORS LTD</CategoryOrItemTxt>
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        <EOYFMVAmt>0</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GCA CREDIT OPPORTUNITIES OFFSH</CategoryOrItemTxt>
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        <EOYFMVAmt>3342778</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>COMMONWEALTH OPPORTUNITY FUND</CategoryOrItemTxt>
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        <EOYFMVAmt>4289090</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ATLAS INSTITUTIONAL FUND</CategoryOrItemTxt>
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        <EOYFMVAmt>4743626</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TIG ARBITRAGE ENHANCED LTD</CategoryOrItemTxt>
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        <EOYFMVAmt>2967752</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PALOMA INTERNATIONAL</CategoryOrItemTxt>
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        <EOYFMVAmt>6724990</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TENOR OPPORTUNITY FUND</CategoryOrItemTxt>
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        <EOYFMVAmt>3500000</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>FIELD STREET OFFSHORE FUND</CategoryOrItemTxt>
        <BookValueAmt>3000000</BookValueAmt>
        <EOYFMVAmt>3029505</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MW EUREKA</CategoryOrItemTxt>
        <BookValueAmt>3500000</BookValueAmt>
        <EOYFMVAmt>3538398</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>STRATEGIC PARTNERS OFFSHORE</CategoryOrItemTxt>
        <BookValueAmt>233769</BookValueAmt>
        <EOYFMVAmt>238811</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncomeDetail>
        <Desc>OTHER INVESTMENT INCOME/(Loss)</Desc>
        <RevenueAndExpensesPerBooksAmt>39313</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>39313</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>ORDINARY INCOME FROM PFICS</Desc>
        <RevenueAndExpensesPerBooksAmt>842112</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>842112</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>Other Income</Desc>
        <RevenueAndExpensesPerBooksAmt>141</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>141</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSch">
      <OtherIncreasesDetail>
        <Desc>ADJUSTMENTS FOR TAX BASIS REPORTING</Desc>
        <Amt>575323</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT EXPENSES</CategoryTxt>
        <Amt>2440663</Amt>
        <NetInvestmentIncomeAmt>2440663</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES PAID</CategoryTxt>
        <Amt>135926</Amt>
        <NetInvestmentIncomeAmt>135926</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>SECTION 4940 EXCISE TAXES PAID</CategoryTxt>
        <Amt>42000</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>