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 | 2,181 | 84,950 | SH | | SOLE | | 84,750 | 0 | 0 |
BANK OF AMERICA CORP SER Y 6.5 | PFD | 060505310 | 1,027 | 39,000 | SH | | SOLE | | 39,000 | 0 | 0 |
BGC PARTNERS INC SR NTS 8.125 | PFD | 05541T408 | 1,330 | 51,744 | SH | | SOLE | | 50,704 | 0 | 0 |
CITIGROUP INC PFD SER K 6.875 | PFD | 172967341 | 1,052 | 38,300 | SH | | SOLE | | 38,200 | 0 | 0 |
COLONY CAPITAL INC 7.15 PFD S | PFD | 19626G603 | 287 | 12,400 | SH | | SOLE | | 12,400 | 0 | 0 |
COLONY CAPITAL INC 7.5 PFD SE | PFD | 19626G405 | 392 | 16,150 | SH | | SOLE | | 16,150 | 0 | 0 |
COLONY NORTHSTAR INC. 8.5 PFD | PFD | 19625W500 | 624 | 24,700 | SH | | SOLE | | 24,700 | 0 | 0 |
GMAC CAP TR I SER 2 CPN-8.125 | PFD | 361860208 | 3,663 | 139,290 | SH | | SOLE | | 137,950 | 0 | 0 |
GOLDMAN SACHS GROUP INC. PFD S | PFD | 38148B504 | 2,072 | 77,765 | SH | | SOLE | | 76,605 | 0 | 0 |
GRAMERCY PROPERTY TRUST SER A | PFD | 385002209 | 797 | 31,350 | SH | | SOLE | | 31,350 | 0 | 0 |
HERSHA HOSPITALITY TRUST SER D | PFD | 427825609 | 775 | 32,300 | SH | | SOLE | | 32,300 | 0 | 0 |
JP MORGAN CHASE & CO 6.15 09- | PFD | 488401209 | 1,178 | 45,300 | SH | | SOLE | | 44,500 | 0 | 0 |
KKR & CO INC SER A 6.75 | PFD | 48251W203 | 399 | 14,850 | SH | | SOLE | | 14,100 | 0 | 0 |
MORGAN STANLEY PRD G 6.625 7- | PFD | 61762V507 | 1,922 | 72,750 | SH | | SOLE | | 72,150 | 0 | 0 |
PEBBLEBROOK HOTEL TR PFD SER C | PFD | 70509V407 | 543 | 21,310 | SH | | SOLE | | 20,950 | 0 | 0 |
STAG INDL INC CUM RED PRD SER | PFD | 85254J409 | 762 | 29,740 | SH | | SOLE | | 29,500 | 0 | 0 |
STAG INDUSTRIAL PRF SER B 6.62 | PFD | 85254J300 | 844 | 33,700 | SH | | SOLE | | 32,900 | 0 | 0 |
TELEPHONE & DATA SYS INC PFD 7 | PFD | 879433837 | 549 | 21,800 | SH | | SOLE | | 21,000 | 0 | 0 |
VORNADO REALTY SER M 5.25 | PFD | 929042828 | 316 | 13,600 | SH | | SOLE | | 13,600 | 0 | 0 |
WELLS FARGO REAL EST INVT CORP | PFD | 94988N207 | 253 | 9,750 | SH | | SOLE | | 9,750 | 0 | 0 |
AK STEEL HLDG CORP | COM | 001547108 | 258 | 59,500 | SH | | SOLE | | 59,500 | 0 | 0 |
ALIBABA GROUP HOLDINGS LTD | COM | 01609W102 | 6,587 | 35,505 | SH | | SOLE | | 35,430 | 0 | 0 |
ALLERGAN INC | COM | G0177J108 | 510 | 3,059 | SH | | SOLE | | 3,059 | 0 | 0 |
ALLY FINANCIAL INC COM | COM | 02005N100 | 8,547 | 325,360 | SH | | SOLE | | 322,700 | 0 | 0 |
ALPHABET INC CL C | COM | 02079K107 | 10,035 | 8,995 | SH | | SOLE | | 8,940 | 0 | 0 |
AMAZON.COM | COM | 023135106 | 19,311 | 11,361 | SH | | SOLE | | 11,345 | 0 | 0 |
ANADARKO PETROLEUM | COM | 032511107 | 756 | 10,320 | SH | | SOLE | | 10,320 | 0 | 0 |
APPLE | COM | 037833100 | 16,650 | 89,944 | SH | | SOLE | | 89,909 | 0 | 0 |
ATLAS AIR WORLDWIDE HOLDINGS I | COM | 049164205 | 10,096 | 140,815 | SH | | SOLE | | 139,815 | 0 | 0 |
BANK OF AMERICA | COM | 060505104 | 7,333 | 260,139 | SH | | SOLE | | 259,399 | 0 | 0 |
BERKSHIRE HATHAWAY DEL CL A | COM | 084670108 | 846 | 3 | SH | | SOLE | | 3 | 0 | 0 |
BGC PARTNERS INC | COM | 05541T101 | 5,830 | 515,050 | SH | | SOLE | | 510,750 | 0 | 0 |
CANADA GOOSE HOLDINGS INC | COM | 135086106 | 624 | 10,600 | SH | | SOLE | | 10,600 | 0 | 0 |
CBS CORP CL B | COM | 124857202 | 1,955 | 34,775 | SH | | SOLE | | 33,625 | 0 | 0 |
CIGNA CORP COM | COM | 125509109 | 888 | 5,225 | SH | | SOLE | | 5,225 | 0 | 0 |
CISCO SYSTEMS | COM | 17275R102 | 4,780 | 111,095 | SH | | SOLE | | 111,095 | 0 | 0 |
CITIGROUP INC | COM | 172967424 | 7,183 | 107,339 | SH | | SOLE | | 106,339 | 0 | 0 |
COCA COLA COMPANY | COM | 191216100 | 392 | 8,941 | SH | | SOLE | | 8,941 | 0 | 0 |
COMCAST CL A | COM | 20030N101 | 4,303 | 131,155 | SH | | SOLE | | 131,155 | 0 | 0 |
COSTCO WHSL | COM | 22160K105 | 700 | 3,350 | SH | | SOLE | | 3,350 | 0 | 0 |
DANAHER CORP | COM | 235851102 | 4,477 | 45,372 | SH | | SOLE | | 45,252 | 0 | 0 |
DELPHI TECHNOLOGIES PLC | COM | G2709G107 | 4,859 | 106,895 | SH | | SOLE | | 105,645 | 0 | 0 |
DELTA AIR LINES INC | COM | 247361702 | 3,724 | 75,180 | SH | | SOLE | | 75,180 | 0 | 0 |
ENTERPRISE PRODUCTS PARTNERS L | COM | 293792107 | 235 | 8,500 | SH | | SOLE | | 8,500 | 0 | 0 |
FREEPORT MCMORAN, INC. CL B | COM | 35671D857 | 948 | 54,950 | SH | | SOLE | | 54,950 | 0 | 0 |
GAMING AND LEISURE PROPERTIES, | COM | 36467J108 | 1,879 | 52,475 | SH | | SOLE | | 52,155 | 0 | 0 |
GASTAR EXPLORATION INC | COM | 36729W202 | 11 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
GREEN BRICK PARTNERS INC | COM | 392709101 | 120 | 12,200 | SH | | SOLE | | 12,200 | 0 | 0 |
HONEYWELL INTL INC | COM | 438516106 | 691 | 4,800 | SH | | SOLE | | 4,800 | 0 | 0 |
HUMANA INC | COM | 444859102 | 10,419 | 35,005 | SH | | SOLE | | 34,505 | 0 | 0 |
INCYTE | COM | 45337C102 | 7,584 | 113,200 | SH | | SOLE | | 113,200 | 0 | 0 |
J C PENNEY INC | COM | 708160106 | 58 | 25,000 | SH | | SOLE | | 25,000 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 482 | 3,976 | SH | | SOLE | | 3,976 | 0 | 0 |
LEXINGTON REALTY TRUST | COM | 529043101 | 6,681 | 765,300 | SH | | SOLE | | 761,900 | 0 | 0 |
LIBERTY MEDIA CORP SIRIUSXM GR | COM | 531229607 | 319 | 7,028 | SH | | SOLE | | 7,028 | 0 | 0 |
MADRIGAL PHARMACEUTICALS INC | COM | 558868105 | 4,906 | 17,541 | SH | | SOLE | | 17,541 | 0 | 0 |
MARATHON PETROLEUM CORP | COM | 56585A102 | 3,829 | 54,575 | SH | | SOLE | | 54,575 | 0 | 0 |
MCDONALDS | COM | 580135101 | 290 | 1,850 | SH | | SOLE | | 1,850 | 0 | 0 |
MERCK & CO INC | COM | 58933Y105 | 862 | 14,200 | SH | | SOLE | | 14,200 | 0 | 0 |
MICROSOFT | COM | 594918104 | 731 | 7,412 | SH | | SOLE | | 7,412 | 0 | 0 |
MPLX LP | COM | 55336V100 | 2,558 | 74,940 | SH | | SOLE | | 74,940 | 0 | 0 |
NEW MEDIA INVESTMENT GROUP INC | COM | 64704V106 | 3,785 | 204,790 | SH | | SOLE | | 204,250 | 0 | 0 |
NVIDIA Corp | COM | 67066G104 | 7,084 | 29,905 | SH | | SOLE | | 29,905 | 0 | 0 |
OFS CAPITAL CORP | COM | 67103B100 | 117 | 10,250 | SH | | SOLE | | 10,250 | 0 | 0 |
OPKO HEALTH INC COM | COM | 68375N103 | 181 | 38,500 | SH | | SOLE | | 38,500 | 0 | 0 |
PAYPAL HOLDINGS INC | COM | 70450Y103 | 9,464 | 113,660 | SH | | SOLE | | 113,660 | 0 | 0 |
PRAXAIR | COM | 74005P104 | 4,033 | 25,500 | SH | | SOLE | | 25,500 | 0 | 0 |
QEP RESOURCES | COM | 74733V100 | 261 | 21,300 | SH | | SOLE | | 21,300 | 0 | 0 |
QURATE RETAIL INC QVC GROUP CO | COM | 74915M100 | 330 | 15,544 | SH | | SOLE | | 15,544 | 0 | 0 |
ROYAL BANK OF CANADA | COM | 780087102 | 522 | 6,931 | SH | | SOLE | | 6,931 | 0 | 0 |
SALESFORCE.COM INC | COM | 79466L302 | 8,050 | 59,015 | SH | | SOLE | | 59,015 | 0 | 0 |
SOLENO THERAPEUTICS INC COM | COM | 834203200 | 23 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
SPDR GOLD TRUST | COM | 78463V107 | 249 | 2,100 | SH | | SOLE | | 2,100 | 0 | 0 |
STARWOOD PROPERTY TRUST INC | COM | 85571B105 | 8,252 | 380,095 | SH | | SOLE | | 378,795 | 0 | 0 |
SYNERGY PHARMACEUTICALS | COM | 871639308 | 30 | 17,500 | SH | | SOLE | | 17,500 | 0 | 0 |
TENCENT HOLDINGS LTD | COM | 88032Q109 | 332 | 6,600 | SH | | SOLE | | 6,600 | 0 | 0 |
THL CREDIT INC | COM | 872438106 | 1,258 | 160,875 | SH | | SOLE | | 160,125 | 0 | 0 |
ULTRALIFE BATTERIES | COM | 903899102 | 250 | 26,000 | SH | | SOLE | | 26,000 | 0 | 0 |
UROGEN PHARMA LTD | COM | M96088105 | 2,395 | 48,125 | SH | | SOLE | | 48,125 | 0 | 0 |
VERIZON COMMUNICATIONS | COM | 92343V104 | 255 | 5,070 | SH | | SOLE | | 4,890 | 0 | 0 |
VICOR CORP | COM | 925815102 | 6,114 | 140,400 | SH | | SOLE | | 138,400 | 0 | 0 |
VODAFONE GROUP PLC | COM | 92857W308 | 941 | 38,700 | SH | | SOLE | | 38,700 | 0 | 0 |
WALT DISNEY COMPANY HOLDING | COM | 254687106 | 241 | 2,303 | SH | | SOLE | | 2,303 | 0 | 0 |
WESTERN GAS PARTNERS | COM | 958254104 | 543 | 11,225 | SH | | SOLE | | 11,225 | 0 | 0 |