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 | 2,349 | 92,850 | SH | | SOLE | | 91,950 | 0 | 0 |
AMERICAN HOMES 4 RENT G 5.875 | PFD | 02665T876 | 287 | 14,000 | SH | | SOLE | | 14,000 | 0 | 0 |
AT&T INC 5.35 | PFD | 00206R300 | 986 | 44,300 | SH | | SOLE | | 44,300 | 0 | 0 |
BANK OF AMERICA CORP SER Y 6.5 | PFD | 060505310 | 1,117 | 44,000 | SH | | SOLE | | 44,000 | 0 | 0 |
BANK OF AMERICA SER HH 5.875 | PFD | 060505195 | 603 | 24,350 | SH | | SOLE | | 24,150 | 0 | 0 |
CITIGROUP INC PFD SER K 6.875 | PFD | 172967341 | 1,335 | 50,900 | SH | | SOLE | | 50,800 | 0 | 0 |
GMAC CAP TR I SER 2 CPN-8.125 | PFD | 361860208 | 3,769 | 148,690 | SH | | SOLE | | 147,350 | 0 | 0 |
GOLDMAN SACHS GROUP INC. PFD S | PFD | 38148B504 | 1,963 | 77,410 | SH | | SOLE | | 76,250 | 0 | 0 |
HERSHA HOSPITALITY TRUST SER D | PFD | 427825609 | 1,043 | 51,650 | SH | | SOLE | | 51,650 | 0 | 0 |
JP MORGAN CHASE & CO 6.15 09- | PFD | 48127V827 | 495 | 19,200 | SH | | SOLE | | 19,200 | 0 | 0 |
KEMPER CORP 7.375 | PFD | 488401209 | 1,342 | 53,300 | SH | | SOLE | | 52,500 | 0 | 0 |
KKR & CO INC SER A 6.75 | PFD | 48251W203 | 764 | 29,550 | SH | | SOLE | | 28,800 | 0 | 0 |
MORGAN STANLEY PRD G 6.625 7- | PFD | 61762V507 | 1,810 | 71,750 | SH | | SOLE | | 71,150 | 0 | 0 |
PEBBLEBROOK HOTEL TR PFD SER C | PFD | 70509V407 | 501 | 21,310 | SH | | SOLE | | 20,950 | 0 | 0 |
STAG INDL INC CUM RED PRD SER | PFD | 85254J409 | 834 | 32,440 | SH | | SOLE | | 32,200 | 0 | 0 |
TELEPHONE & DATA SYS INC PFD 7 | PFD | 879433837 | 643 | 27,600 | SH | | SOLE | | 26,400 | 0 | 0 |
VORNADO REALTY SER M 5.25 | PFD | 929042828 | 1,029 | 50,050 | SH | | SOLE | | 50,050 | 0 | 0 |
WELLS FARGO REAL EST INVT CORP | PFD | 94988N207 | 344 | 13,750 | SH | | SOLE | | 13,750 | 0 | 0 |
AK STEEL HLDG CORP | COM | 001547108 | 90 | 40,000 | SH | | SOLE | | 40,000 | 0 | 0 |
ALIBABA GROUP HOLDINGS LTD | COM | 01609W102 | 358 | 2,610 | SH | | SOLE | | 2,610 | 0 | 0 |
ALLOGENE THERAPEUTICS INC | COM | 019770106 | 1,056 | 39,200 | SH | | SOLE | | 39,200 | 0 | 0 |
ALLY FINANCIAL INC COM | COM | 02005N100 | 7,445 | 328,560 | SH | | SOLE | | 325,400 | 0 | 0 |
ALPHABET INC CL C | COM | 02079K107 | 8,874 | 8,569 | SH | | SOLE | | 8,484 | 0 | 0 |
AMAZON.COM | COM | 023135106 | 16,212 | 10,794 | SH | | SOLE | | 10,778 | 0 | 0 |
ANADARKO PETROLEUM | COM | 032511107 | 433 | 9,870 | SH | | SOLE | | 9,870 | 0 | 0 |
APPLE | COM | 037833100 | 17,007 | 107,818 | SH | | SOLE | | 107,718 | 0 | 0 |
ASHLAND GLOBAL HOLDINGS INC | COM | 044186104 | 4,213 | 59,370 | SH | | SOLE | | 59,370 | 0 | 0 |
ATLAS AIR WORLDWIDE HOLDINGS I | COM | 049164205 | 2,804 | 66,455 | SH | | SOLE | | 66,355 | 0 | 0 |
BANK OF AMERICA | COM | 060505104 | 6,239 | 253,209 | SH | | SOLE | | 252,469 | 0 | 0 |
BEARD | COM | 07384R408 | 0 | 13,800 | SH | | SOLE | | 13,800 | 0 | 0 |
BERKSHIRE HATHAWAY DEL CL A | COM | 084670108 | 918 | 3 | SH | | SOLE | | 3 | 0 | 0 |
BGC PARTNERS INC | COM | 05541T101 | 2,965 | 573,450 | SH | | SOLE | | 564,150 | 0 | 0 |
BLACKHAWK CAP GROUP BDC | COM | 09236T103 | 0 | 24,000 | SH | | SOLE | | 24,000 | 0 | 0 |
CANADA GOOSE HOLDINGS INC | COM | 135086106 | 590 | 13,500 | SH | | SOLE | | 13,500 | 0 | 0 |
CIGNA CORP | COM | 125523100 | 883 | 4,650 | SH | | SOLE | | 4,650 | 0 | 0 |
CISCO SYSTEMS | COM | 17275R102 | 4,175 | 96,345 | SH | | SOLE | | 96,345 | 0 | 0 |
CITIGROUP INC | COM | 172967424 | 5,668 | 108,867 | SH | | SOLE | | 107,867 | 0 | 0 |
COMCAST CL A | COM | 20030N101 | 1,502 | 44,105 | SH | | SOLE | | 44,105 | 0 | 0 |
COSTCO WHSL | COM | 22160K105 | 682 | 3,350 | SH | | SOLE | | 3,350 | 0 | 0 |
DANAHER CORP | COM | 235851102 | 4,285 | 41,557 | SH | | SOLE | | 41,437 | 0 | 0 |
DELTA AIR LINES INC | COM | 247361702 | 4,315 | 86,480 | SH | | SOLE | | 86,480 | 0 | 0 |
ENTERPRISE PRODUCTS PARTNERS L | COM | 293792107 | 209 | 8,500 | SH | | SOLE | | 8,500 | 0 | 0 |
FORTRESS BIOTECH INC | COM | 34960Q109 | 28 | 32,600 | SH | | SOLE | | 32,600 | 0 | 0 |
FREEPORT MCMORAN, INC. CL B | COM | 35671D857 | 495 | 48,000 | SH | | SOLE | | 48,000 | 0 | 0 |
GAMING AND LEISURE PROPERTIES, | COM | 36467J108 | 2,516 | 77,885 | SH | | SOLE | | 77,385 | 0 | 0 |
GRIFFIN MINING LTD | COM | G31920104 | 16 | 15,000 | SH | | SOLE | | 15,000 | 0 | 0 |
HONEYWELL INTL INC | COM | 438516106 | 608 | 4,600 | SH | | SOLE | | 4,600 | 0 | 0 |
HUMANA INC | COM | 444859102 | 9,521 | 33,235 | SH | | SOLE | | 32,710 | 0 | 0 |
INCYTE | COM | 45337C102 | 1,456 | 22,900 | SH | | SOLE | | 22,900 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 507 | 3,926 | SH | | SOLE | | 3,926 | 0 | 0 |
LEXINGTON REALTY TRUST | COM | 529043101 | 7,055 | 859,275 | SH | | SOLE | | 853,375 | 0 | 0 |
LIBERTY MEDIA CORP SIRIUSXM GR | COM | 531229607 | 260 | 7,028 | SH | | SOLE | | 7,028 | 0 | 0 |
LINDE PLC | COM | G5494J103 | 3,979 | 25,500 | SH | | SOLE | | 25,500 | 0 | 0 |
MADRIGAL PHARMACEUTICALS INC | COM | 558868105 | 1,617 | 14,341 | SH | | SOLE | | 14,341 | 0 | 0 |
MARATHON PETROLEUM CORP | COM | 56585A102 | 3,573 | 60,550 | SH | | SOLE | | 60,550 | 0 | 0 |
MCDONALDS | COM | 580135101 | 329 | 1,850 | SH | | SOLE | | 1,850 | 0 | 0 |
MERCK & CO INC | COM | 58933Y105 | 1,009 | 13,200 | SH | | SOLE | | 13,200 | 0 | 0 |
MICROSOFT | COM | 594918104 | 807 | 7,950 | SH | | SOLE | | 7,950 | 0 | 0 |
MPLX LP | COM | 55336V100 | 2,210 | 72,940 | SH | | SOLE | | 72,940 | 0 | 0 |
NEW MEDIA INVESTMENT GROUP INC | COM | 64704V106 | 2,776 | 239,965 | SH | | SOLE | | 239,425 | 0 | 0 |
NEWMARK GROUP INC | COM | 65158N102 | 2,025 | 252,443 | SH | | SOLE | | 251,608 | 0 | 0 |
NVIDIA Corp | COM | 67066G104 | 1,638 | 12,270 | SH | | SOLE | | 12,270 | 0 | 0 |
OPKO HEALTH INC COM | COM | 68375N103 | 33 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PAYPAL HOLDINGS INC | COM | 70450Y103 | 8,928 | 106,170 | SH | | SOLE | | 106,170 | 0 | 0 |
QEP RESOURCES | COM | 74733V100 | 204 | 36,300 | SH | | SOLE | | 36,300 | 0 | 0 |
QURATE RETAIL INC QVC GROUP CO | COM | 74915M100 | 303 | 15,544 | SH | | SOLE | | 15,544 | 0 | 0 |
ROYAL BANK OF CANADA | COM | 780087102 | 475 | 6,931 | SH | | SOLE | | 6,931 | 0 | 0 |
SALESFORCE.COM INC | COM | 79466L302 | 7,353 | 53,680 | SH | | SOLE | | 53,680 | 0 | 0 |
SOLENO THERAPEUTICS INC COM | COM | 834203200 | 44 | 25,550 | SH | | SOLE | | 25,550 | 0 | 0 |
STARWOOD PROPERTY TRUST INC | COM | 85571B105 | 8,695 | 441,165 | SH | | SOLE | | 439,265 | 0 | 0 |
THL CREDIT INC | COM | 872438106 | 942 | 154,975 | SH | | SOLE | | 154,225 | 0 | 0 |
ULTRALIFE BATTERIES | COM | 903899102 | 175 | 26,000 | SH | | SOLE | | 26,000 | 0 | 0 |
UROGEN PHARMA LTD | COM | M96088105 | 3,206 | 74,450 | SH | | SOLE | | 74,350 | 0 | 0 |
VERIZON COMMUNICATIONS | COM | 92343V104 | 285 | 5,070 | SH | | SOLE | | 4,890 | 0 | 0 |
VICOR CORP | COM | 925815102 | 3,827 | 101,280 | SH | | SOLE | | 101,080 | 0 | 0 |
WALT DISNEY COMPANY HOLDING | COM | 254687106 | 253 | 2,303 | SH | | SOLE | | 2,303 | 0 | 0 |
WESTERN GAS PARTNERS | COM | 958254104 | 411 | 9,725 | SH | | SOLE | | 9,725 | 0 | 0 |
XYLEM INC | COM | 98419M100 | 1,665 | 24,960 | SH | | SOLE | | 24,960 | 0 | 0 |