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 INVESTMENT CORP. SER B 7. | PFD | 00123Q302 | 1,577 | 60,550 | SH | | SOLE | | 60,550 | 0 | 0 |
ALLERGAN PLC 5.5 | PFD | G0177J116 | 528 | 715 | SH | | SOLE | | 715 | 0 | 0 |
AMERICAN TOWER CORP B 5.5 | PFD | 03027X407 | 216 | 1,770 | SH | | SOLE | | 1,770 | 0 | 0 |
BGC PARTNERS INC SR NTS 8.125 | PFD | 05541T408 | 1,557 | 59,894 | SH | | SOLE | | 59,494 | 0 | 0 |
COLONY NORTHSTAR INC 7.15 | PFD | 19625W872 | 850 | 33,400 | SH | | SOLE | | 33,000 | 0 | 0 |
COLONY NORTHSTAR INC 7.5 | PFD | 19625W807 | 1,151 | 44,600 | SH | | SOLE | | 44,600 | 0 | 0 |
COLONY NORTHSTAR INC. 8.5 | PFD | 19625W500 | 1,118 | 43,320 | SH | | SOLE | | 43,320 | 0 | 0 |
COLONY NORTHSTAR INC. 8.750 | PFD | 19625W609 | 263 | 9,650 | SH | | SOLE | | 9,650 | 0 | 0 |
COLONY NORTHSTAR INC. 8.875 | PFD | 19625W401 | 445 | 17,560 | SH | | SOLE | | 17,560 | 0 | 0 |
GMAC CAP TR I SER 2 CPN-8.125 | PFD | 361860208 | 3,573 | 135,340 | SH | | SOLE | | 134,940 | 0 | 0 |
GOLDMAN SACHS GROUP INC. PFD S | PFD | 38148B504 | 1,879 | 68,315 | SH | | SOLE | | 67,915 | 0 | 0 |
GRAMERCY PROPERTY TRUST SER A | PFD | 385002209 | 659 | 24,850 | SH | | SOLE | | 24,850 | 0 | 0 |
HERSHA HOSPITALITY TRUST SER D | PFD | 427825609 | 757 | 29,600 | SH | | SOLE | | 29,600 | 0 | 0 |
KEMPER CORP 7.375 | PFD | 488401209 | 313 | 11,800 | SH | | SOLE | | 11,400 | 0 | 0 |
KKR FINL HLDGS LLC PFD SER A L | PFD | 48248A603 | 756 | 29,310 | SH | | SOLE | | 29,310 | 0 | 0 |
MORGAN STANLEY PRD G 6.625 7 | PFD | 61762V507 | 1,422 | 52,700 | SH | | SOLE | | 52,700 | 0 | 0 |
PEBBLEBROOK HOTEL TR PFD SER C | PFD | 70509V407 | 641 | 24,860 | SH | | SOLE | | 24,860 | 0 | 0 |
STAG INDL INC CUM RED PRD SER | PFD | 85254J409 | 890 | 33,040 | SH | | SOLE | | 33,040 | 0 | 0 |
STAG INDUSTRIAL PRF SER B 6.62 | PFD | 85254J300 | 849 | 33,000 | SH | | SOLE | | 33,000 | 0 | 0 |
TELEPHONE & DATA SYS INC PFD 7 | PFD | 879433837 | 300 | 11,600 | SH | | SOLE | | 11,200 | 0 | 0 |
TEVA PHARMACEUTICAL 7 | PFD | M8769Q136 | 384 | 1,114 | SH | | SOLE | | 1,114 | 0 | 0 |
A SCHULMAN INC | COM | 808194104 | 854 | 25,000 | SH | | SOLE | | 25,000 | 0 | 0 |
AETNA | COM | 00817Y108 | 5,711 | 35,915 | SH | | SOLE | | 35,915 | 0 | 0 |
AK STEEL HLDG CORP | COM | 001547108 | 405 | 72,500 | SH | | SOLE | | 72,500 | 0 | 0 |
ALIBABA GROUP HOLDINGS LTD | COM | 01609W102 | 6,041 | 34,980 | SH | | SOLE | | 34,955 | 0 | 0 |
ALLY FINL INC COM | COM | 02005N100 | 9,361 | 385,860 | SH | | SOLE | | 385,710 | 0 | 0 |
ALPHABET INC CL C | COM | 02079K107 | 8,526 | 8,890 | SH | | SOLE | | 8,890 | 0 | 0 |
AMAZON.COM | COM | 023135106 | 12,131 | 12,619 | SH | | SOLE | | 12,614 | 0 | 0 |
ANADARKO PETROLEUM | COM | 032511107 | 1,568 | 32,100 | SH | | SOLE | | 32,100 | 0 | 0 |
APPLE | COM | 037833100 | 14,450 | 93,758 | SH | | SOLE | | 93,733 | 0 | 0 |
ARAMARK | COM | 03852U106 | 693 | 17,075 | SH | | SOLE | | 17,075 | 0 | 0 |
BANK OF AMERICA | COM | 060505104 | 7,536 | 297,414 | SH | | SOLE | | 297,264 | 0 | 0 |
BERKSHIRE HATHAWAY DEL CL A | COM | 084670108 | 824 | 3 | SH | | SOLE | | 3 | 0 | 0 |
BGC PARTNERS INC | COM | 05541T101 | 8,216 | 567,800 | SH | | SOLE | | 567,550 | 0 | 0 |
CANADA GOOSE HOLDINGS INC | COM | 135086106 | 319 | 15,500 | SH | | SOLE | | 15,500 | 0 | 0 |
CARDINAL HEALTH | COM | 14149Y108 | 1,403 | 20,960 | SH | | SOLE | | 20,960 | 0 | 0 |
CBS CORP CL B | COM | 124857202 | 8,179 | 141,010 | SH | | SOLE | | 140,910 | 0 | 0 |
CELGENE | COM | 151020104 | 219 | 1,500 | SH | | SOLE | | 1,500 | 0 | 0 |
CHOCOLADEFABRIKEN LINDT | COM | H49983184 | 257 | 45 | SH | | SOLE | | 45 | 0 | 0 |
CIGNA CORP COM | COM | 125509109 | 1,748 | 9,350 | SH | | SOLE | | 9,350 | 0 | 0 |
CISCO SYSTEMS | COM | 17275R102 | 4,605 | 136,935 | SH | | SOLE | | 136,935 | 0 | 0 |
CITIGROUP INC | COM | 172967424 | 8,322 | 114,414 | SH | | SOLE | | 114,314 | 0 | 0 |
COCA COLA COMPANY | COM | 191216100 | 6,367 | 141,456 | SH | | SOLE | | 141,356 | 0 | 0 |
COCA-COLA EUROPEAN PARTNERS PL | COM | G25839104 | 208 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
COLONY NORTHSTAR INC. CL A | COM | 19625W104 | 4,641 | 369,518 | SH | | SOLE | | 369,518 | 0 | 0 |
COMCAST CL A | COM | 20030N101 | 4,954 | 128,735 | SH | | SOLE | | 128,635 | 0 | 0 |
COSTCO WHSL | COM | 22160K105 | 550 | 3,350 | SH | | SOLE | | 3,350 | 0 | 0 |
DANAHER CORP | COM | 235851102 | 4,913 | 57,272 | SH | | SOLE | | 57,272 | 0 | 0 |
DANONE SPONSORED ADR | COM | 23636T100 | 322 | 20,427 | SH | | SOLE | | 20,427 | 0 | 0 |
DELTA AIR LINES INC | COM | 247361702 | 3,403 | 70,575 | SH | | SOLE | | 70,575 | 0 | 0 |
DIAGEO PLC | COM | 25243Q205 | 264 | 2,000 | SH | | SOLE | | 2,000 | 0 | 0 |
ENBRIDGE INC | COM | 29250N105 | 212 | 5,077 | SH | | SOLE | | 5,077 | 0 | 0 |
ENTERPRISE PRODUCTS PARTNERS L | COM | 293792107 | 222 | 8,500 | SH | | SOLE | | 8,500 | 0 | 0 |
ESSILOR INTERNATIONAL | COM | F31668100 | 247 | 2,000 | SH | | SOLE | | 2,000 | 0 | 0 |
EXXON | COM | 30231G102 | 312 | 3,805 | SH | | SOLE | | 3,805 | 0 | 0 |
FORTIVE CORP | COM | 34959J108 | 414 | 5,849 | SH | | SOLE | | 5,849 | 0 | 0 |
FREEPORT MCMORAN, INC. CL B | COM | 35671D857 | 1,577 | 112,350 | SH | | SOLE | | 112,350 | 0 | 0 |
FRESENIUS MEDICAL CARE-ADR | COM | 358029106 | 244 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
GAMING AND LEISURE PROPERTIES, | COM | 36467J108 | 1,214 | 32,910 | SH | | SOLE | | 32,910 | 0 | 0 |
GASTAR EXPLORATION INC | COM | 36729W202 | 18 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
GENERAL ELECTRIC | COM | 369604103 | 6,806 | 281,480 | SH | | SOLE | | 281,480 | 0 | 0 |
HONEYWELL INTL INC | COM | 438516106 | 852 | 6,010 | SH | | SOLE | | 6,010 | 0 | 0 |
INCYTE | COM | 45337C102 | 3,544 | 30,350 | SH | | SOLE | | 30,350 | 0 | 0 |
J C PENNEY INC | COM | 708160106 | 110 | 29,000 | SH | | SOLE | | 29,000 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 582 | 4,476 | SH | | SOLE | | 4,476 | 0 | 0 |
KITE PHARMA INC | COM | 49803L109 | 2,805 | 15,600 | SH | | SOLE | | 15,600 | 0 | 0 |
LEXINGTON REALTY TR | COM | 529043101 | 6,117 | 598,575 | SH | | SOLE | | 598,225 | 0 | 0 |
LIBERTY INTERACTIVE CORP | COM | 53071M104 | 366 | 15,544 | SH | | SOLE | | 15,544 | 0 | 0 |
LIBERTY MEDIA CORP SIRIUSXM GR | COM | 531229607 | 294 | 7,028 | SH | | SOLE | | 7,028 | 0 | 0 |
MADRIGAL PHARMACEUTICALS INC | COM | 558868105 | 1,041 | 23,141 | SH | | SOLE | | 23,141 | 0 | 0 |
MARATHON PETROLEUM CORP | COM | 56585A102 | 7,085 | 126,345 | SH | | SOLE | | 126,345 | 0 | 0 |
MCDONALDS | COM | 580135101 | 290 | 1,852 | SH | | SOLE | | 1,852 | 0 | 0 |
MCKESSON CORP | COM | 58155Q103 | 926 | 6,025 | SH | | SOLE | | 6,025 | 0 | 0 |
MEDLEY CAP | COM | 58503F106 | 362 | 60,600 | SH | | SOLE | | 60,600 | 0 | 0 |
MERCK & CO INC | COM | 58933Y105 | 1,917 | 29,942 | SH | | SOLE | | 29,942 | 0 | 0 |
MICROSOFT | COM | 594918104 | 567 | 7,612 | SH | | SOLE | | 7,612 | 0 | 0 |
MPLX LP | COM | 55336V100 | 3,735 | 106,690 | SH | | SOLE | | 106,690 | 0 | 0 |
NESTLE SA ADR | COM | 641069406 | 294 | 3,500 | SH | | SOLE | | 3,500 | 0 | 0 |
NEW MEDIA INVESTMENT GROUP INC | COM | 64704V106 | 4,019 | 271,715 | SH | | SOLE | | 271,715 | 0 | 0 |
NEW SENIOR INVESTMENT GROUP | COM | 648691103 | 1,471 | 160,750 | SH | | SOLE | | 160,750 | 0 | 0 |
NOVARTIS AG | COM | 66987V109 | 215 | 2,500 | SH | | SOLE | | 2,500 | 0 | 0 |
NVIDIA Corp | COM | 67066G104 | 6,132 | 34,300 | SH | | SOLE | | 34,300 | 0 | 0 |
OFS CAPITAL CORP | COM | 67103B100 | 329 | 24,950 | SH | | SOLE | | 24,950 | 0 | 0 |
OPKO HEALTH INC COM | COM | 68375N103 | 264 | 38,500 | SH | | SOLE | | 38,500 | 0 | 0 |
PAYPAL HOLDINGS INC | COM | 70450Y103 | 8,968 | 140,065 | SH | | SOLE | | 140,065 | 0 | 0 |
PFIZER | COM | 717081103 | 214 | 6,000 | SH | | SOLE | | 6,000 | 0 | 0 |
PRAXAIR | COM | 74005p104 | 3,778 | 27,036 | SH | | SOLE | 27,036 | 0 | 0 | 0 |
RAYTHEON | COM | 755111507 | 305 | 1,635 | SH | | SOLE | | 1,635 | 0 | 0 |
RIO TINTO PLC | COM | 767204100 | 334 | 7,075 | SH | | SOLE | | 7,075 | 0 | 0 |
ROYAL BANK OF CANADA | COM | 780087102 | 536 | 6,931 | SH | | SOLE | | 6,931 | 0 | 0 |
SPDR GOLD TRUST | COM | 78463V107 | 255 | 2,100 | SH | | SOLE | | 2,100 | 0 | 0 |
SPDR SER BLOOMBERG BARCLAYS 1 | COM | 78464A680 | 217 | 4,750 | SH | | SOLE | | 4,750 | 0 | 0 |
STAG INDUSTRIAL INC | COM | 85254J102 | 555 | 20,200 | SH | | SOLE | | 20,200 | 0 | 0 |
STARWOOD PROPERTY TRUST INC | COM | 85571B105 | 4,226 | 194,550 | SH | | SOLE | | 194,400 | 0 | 0 |
THL CREDIT INC | COM | 872438106 | 2,636 | 282,505 | SH | | SOLE | | 282,505 | 0 | 0 |
ULTRALIFE BATTERIES | COM | 903899102 | 121 | 18,000 | SH | | SOLE | | 18,000 | 0 | 0 |
UNILEVER N V -NY SHARES | COM | 904784709 | 354 | 6,000 | SH | | SOLE | | 6,000 | 0 | 0 |
UROGEN PHARMA LTD | COM | M96088105 | 665 | 21,100 | SH | | SOLE | | 21,100 | 0 | 0 |
VANECK VECTORS ETF TR HY MUN I | COM | 92189F361 | 220 | 7,032 | SH | | SOLE | | 7,032 | 0 | 0 |
VERIZON COMMUNICATIONS | COM | 92343V104 | 384 | 7,761 | SH | | SOLE | | 7,761 | 0 | 0 |
VODAFONE GROUP PLC | COM | 92857W308 | 2,902 | 101,955 | SH | | SOLE | | 101,955 | 0 | 0 |
WALGREENS BOOTS ALLIANCE INC | COM | 931427108 | 439 | 5,690 | SH | | SOLE | | 5,690 | 0 | 0 |
WALT DISNEY COMPANY HOLDING | COM | 254687106 | 225 | 2,283 | SH | | SOLE | | 2,283 | 0 | 0 |
WESTERN GAS PARTNERS | COM | 958254104 | 1,063 | 20,725 | SH | | SOLE | | 20,725 | 0 | 0 |