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 | 2,565 | 100,275 | SH | | SOLE | | 99,375 | 0 | 0 |
AMERICAN HOMES 4 RENT E 6.35 | PFD | 02665T801 | 243 | 9,000 | SH | | SOLE | | 9,000 | 0 | 0 |
AMERICAN HOMES 4 RENT G 5.875 | PFD | 02665T876 | 367 | 14,300 | SH | | SOLE | | 14,300 | 0 | 0 |
AT&T INC 5.35 | PFD | 00206R300 | 1,198 | 45,350 | SH | | SOLE | | 45,350 | 0 | 0 |
BANK OF AMERICA CORP SER Y 6.5 | PFD | 060505310 | 1,131 | 44,300 | SH | | SOLE | | 44,300 | 0 | 0 |
BANK OF AMERICA SER HH 5.875 | PFD | 060505195 | 558 | 21,375 | SH | | SOLE | | 21,175 | 0 | 0 |
CAI INTL INC RED PFD SER B 8.5 | PFD | 12477X304 | 510 | 20,400 | SH | | SOLE | | 20,400 | 0 | 0 |
CITIGROUP INC PFD SER K 6.875 | PFD | 172967341 | 1,775 | 64,775 | SH | | SOLE | | 64,675 | 0 | 0 |
GMAC CAP TR SER A FLOATING RT | PFD | 361860208 | 4,218 | 161,415 | SH | | SOLE | | 160,075 | 0 | 0 |
GOLDMAN SACHS GROUP INC. PFD S | PFD | 38148B504 | 2,067 | 78,010 | SH | | SOLE | | 76,850 | 0 | 0 |
HERSHA HOSPITALITY TRUST SER D | PFD | 427825609 | 1,557 | 65,125 | SH | | SOLE | | 65,125 | 0 | 0 |
JP MORGAN CHASE & CO 6.15 09 | PFD | 48127V827 | 981 | 37,450 | SH | | SOLE | | 37,450 | 0 | 0 |
KEMPER CORP 7.375 | PFD | 488401209 | 1,955 | 77,625 | SH | | SOLE | | 76,125 | 0 | 0 |
KKR & CO INC SER A 6.75 | PFD | 48251W203 | 1,439 | 54,000 | SH | | SOLE | | 53,250 | 0 | 0 |
MONMOUTH REAL ESTATE PFD SER C | PFD | 609720404 | 241 | 10,100 | SH | | SOLE | | 10,100 | 0 | 0 |
MORGAN STANLEY PFD SER G 6.625 | PFD | 61762V507 | 2,063 | 81,350 | SH | | SOLE | | 80,750 | 0 | 0 |
PEBBLEBROOK HOTEL TR PFD SER C | PFD | 70509V407 | 532 | 20,910 | SH | | SOLE | | 20,550 | 0 | 0 |
PLYMOUTH INDL REIT 7.5 QTLY 1 | PFD | 729640201 | 280 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
STAG INDUSTRIAL PFD SER C 6.87 | PFD | 85254J409 | 970 | 36,415 | SH | | SOLE | | 36,175 | 0 | 0 |
TELEPHONE & DATA SYSTEMS INC P | PFD | 879433837 | 1,231 | 49,050 | SH | | SOLE | | 47,850 | 0 | 0 |
VORNADO REALTY SER M 5.25 | PFD | 929042828 | 1,454 | 59,300 | SH | | SOLE | | 59,300 | 0 | 0 |
WELLS FARGO REAL EST INVT CORP | PFD | 94988N207 | 566 | 22,000 | SH | | SOLE | | 22,000 | 0 | 0 |
AIR PRODUCTS & CHEMICALS | COM | 009158106 | 7,046 | 31,125 | SH | | SOLE | | 31,125 | 0 | 0 |
AK STEEL HLDG CORP | COM | 001547108 | 69 | 29,100 | SH | | SOLE | | 29,100 | 0 | 0 |
ALLOGENE THERAPEUTICS INC | COM | 019770106 | 1,165 | 43,395 | SH | | SOLE | | 43,395 | 0 | 0 |
ALLY FINANCIAL INC COM | COM | 02005N100 | 8,917 | 287,745 | SH | | SOLE | | 283,585 | 0 | 0 |
ALPHABET INC CL C | COM | 02079K107 | 8,098 | 7,492 | SH | | SOLE | | 7,482 | 0 | 0 |
AMAZON.COM | COM | 023135106 | 19,942 | 10,531 | SH | | SOLE | | 10,515 | 0 | 0 |
APPLE | COM | 037833100 | 20,002 | 101,059 | SH | | SOLE | | 100,959 | 0 | 0 |
ASHLAND GLOBAL HOLDINGS INC | COM | 044186104 | 4,038 | 50,495 | SH | | SOLE | | 50,495 | 0 | 0 |
AT&T | COM | 00206R102 | 9,794 | 292,280 | SH | | SOLE | | 287,480 | 0 | 0 |
ATLAS AIR WORLDWIDE HOLDINGS I | COM | 049164205 | 1,324 | 29,665 | SH | | SOLE | | 29,665 | 0 | 0 |
BANK OF AMERICA | COM | 060505104 | 7,549 | 260,314 | SH | | SOLE | | 259,374 | 0 | 0 |
BEARD | COM | 07384R408 | 0 | 13,800 | SH | | SOLE | | 13,800 | 0 | 0 |
BERKSHIRE HATHAWAY DEL CL A | COM | 084670108 | 955 | 3 | SH | | SOLE | | 3 | 0 | 0 |
BGC PARTNERS INC | COM | 05541T101 | 1,393 | 266,300 | SH | | SOLE | | 264,500 | 0 | 0 |
BLACKHAWK CAP GROUP BDC | COM | 09236T103 | 0 | 24,000 | SH | | SOLE | | 24,000 | 0 | 0 |
BOSTON SCIENTIFIC | COM | 101137107 | 537 | 12,500 | SH | | SOLE | | 12,500 | 0 | 0 |
CANADA GOOSE HOLDINGS INC | COM | 135086106 | 1,579 | 40,775 | SH | | SOLE | | 40,775 | 0 | 0 |
CIGNA CORP | COM | 125523100 | 496 | 3,150 | SH | | SOLE | | 3,150 | 0 | 0 |
CISCO SYSTEMS | COM | 17275R102 | 4,502 | 82,255 | SH | | SOLE | | 82,255 | 0 | 0 |
CITIGROUP INC | COM | 172967424 | 7,539 | 107,652 | SH | | SOLE | | 106,652 | 0 | 0 |
COMCAST CL A | COM | 20030N101 | 1,455 | 34,405 | SH | | SOLE | | 34,405 | 0 | 0 |
COSTCO WHSL | COM | 22160K105 | 885 | 3,350 | SH | | SOLE | | 3,350 | 0 | 0 |
DANAHER CORP COM | COM | 235851102 | 5,676 | 39,712 | SH | | SOLE | | 39,592 | 0 | 0 |
DANONE SPONSORED ADR | COM | 23636T100 | 8,477 | 499,585 | SH | | SOLE | | 492,085 | 0 | 0 |
DELTA AIR LINES INC | COM | 247361702 | 5,561 | 97,995 | SH | | SOLE | | 97,995 | 0 | 0 |
DENBURY RES INC COM NEW | COM | 247916208 | 248 | 200,000 | SH | | SOLE | | 200,000 | 0 | 0 |
ENTERPRISE PRODUCTS PARTNERS L | COM | 293792107 | 245 | 8,500 | SH | | SOLE | | 8,500 | 0 | 0 |
FARFETCH LIMITED CLASS A | COM | 30744W107 | 2,694 | 129,515 | SH | | SOLE | | 129,515 | 0 | 0 |
FORTRESS BIOTECH INC | COM | 34960Q109 | 49 | 32,600 | SH | | SOLE | | 32,600 | 0 | 0 |
FREEPORT MCMORAN, INC. CL B | COM | 35671D857 | 670 | 57,750 | SH | | SOLE | | 57,750 | 0 | 0 |
GAMING AND LEISURE PROPERTIES, | COM | 36467J108 | 4,461 | 114,440 | SH | | SOLE | | 113,940 | 0 | 0 |
GENERAL ELECTRIC | COM | 369604103 | 315 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
GENERAL MILLS | COM | 370334104 | 309 | 5,875 | SH | | SOLE | | 5,875 | 0 | 0 |
GRIFFIN MINING LTD | COM | G31920104 | 18 | 15,000 | SH | | SOLE | | 15,000 | 0 | 0 |
HERSHA HOSPITALITY TRUST | COM | 427825500 | 2,416 | 146,100 | SH | | SOLE | | 144,100 | 0 | 0 |
HONEYWELL INTL INC | COM | 438516106 | 9,990 | 57,220 | SH | | SOLE | | 56,470 | 0 | 0 |
HUMANA INC | COM | 444859102 | 9,573 | 36,085 | SH | | SOLE | | 35,535 | 0 | 0 |
INCYTE | COM | 45337C102 | 1,911 | 22,500 | SH | | SOLE | | 106,500 | 0 | 0 |
INDUSTRIAL LOGISTICS PPTYS | COM | 456237106 | 1,470 | 70,600 | SH | | SOLE | | 70,600 | 0 | 0 |
J C PENNEY INC | COM | 708160106 | 17 | 15,000 | SH | | SOLE | | 15,000 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 543 | 3,900 | SH | | SOLE | | 3,900 | 0 | 0 |
LEXINGTON REALTY TRUST | COM | 529043101 | 7,861 | 835,425 | SH | | SOLE | | 834,525 | 0 | 0 |
LIBERTY MEDIA CORP SIRIUSXM GR | COM | 531229607 | 267 | 7,028 | SH | | SOLE | | 7,028 | 0 | 0 |
LINDE PLC | COM | G5494J103 | 4,317 | 21,500 | SH | | SOLE | | 21,500 | 0 | 0 |
MADRIGAL PHARMACEUTICALS INC | COM | 558868105 | 1,608 | 15,341 | SH | | SOLE | | 15,341 | 0 | 0 |
MARATHON PETROLEUM CORP | COM | 56585A102 | 2,589 | 46,330 | SH | | SOLE | | 46,330 | 0 | 0 |
MCDONALDS | COM | 580135101 | 384 | 1,850 | SH | | SOLE | | 1,850 | 0 | 0 |
MERCK & CO INC | COM | 58933Y105 | 960 | 11,450 | SH | | SOLE | | 11,450 | 0 | 0 |
MICROSOFT | COM | 594918104 | 1,078 | 8,050 | SH | | SOLE | | 8,050 | 0 | 0 |
MPLX LP | COM | 55336V100 | 1,756 | 54,540 | SH | | SOLE | | 54,540 | 0 | 0 |
NEW MEDIA INVESTMENT GROUP INC | COM | 64704V106 | 1,188 | 125,815 | SH | | SOLE | | 125,275 | 0 | 0 |
OPKO HEALTH INC COM | COM | 68375N103 | 27 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PAYPAL HOLDINGS INC | COM | 70450Y103 | 11,167 | 97,560 | SH | | SOLE | | 97,560 | 0 | 0 |
PLYMOUTH INDL REIT, Inc. | COM | 729640102 | 453 | 23,900 | SH | | SOLE | | 23,900 | 0 | 0 |
QEP RESOURCES | COM | 74733V100 | 447 | 61,800 | SH | | SOLE | | 61,800 | 0 | 0 |
QURATE RETAIL INC QVC GROUP CO | COM | 74915M100 | 193 | 15,544 | SH | | SOLE | | 15,544 | 0 | 0 |
ROYAL BANK OF CANADA | COM | 780087102 | 550 | 6,931 | SH | | SOLE | | 6,931 | 0 | 0 |
SALESFORCE.COM INC | COM | 79466L302 | 8,471 | 55,830 | SH | | SOLE | | 55,830 | 0 | 0 |
SOLENO THERAPEUTICS INC COM | COM | 834203200 | 82 | 29,250 | SH | | SOLE | | 29,250 | 0 | 0 |
SPDR GOLD TRUST | COM | 78463V107 | 333 | 2,500 | SH | | SOLE | | 2,500 | 0 | 0 |
STARWOOD PROPERTY TRUST INC | COM | 85571B105 | 10,758 | 473,505 | SH | | SOLE | | 471,305 | 0 | 0 |
TAKE TWO INTERACTIVE SOFTWARE | COM | 874054109 | 4,656 | 41,015 | SH | | SOLE | | 41,015 | 0 | 0 |
THL CREDIT INC | COM | 872438106 | 1,219 | 183,600 | SH | | SOLE | | 182,850 | 0 | 0 |
ULTRALIFE BATTERIES | COM | 903899102 | 185 | 23,228 | SH | | SOLE | | 23,228 | 0 | 0 |
UROGEN PHARMA LTD | COM | M96088105 | 2,318 | 64,500 | SH | | SOLE | | 64,400 | 0 | 0 |
VERIZON COMMUNICATIONS | COM | 92343V104 | 313 | 5,470 | SH | | SOLE | | 5,290 | 0 | 0 |
VICOR CORP | COM | 925815102 | 759 | 24,455 | SH | | SOLE | | 24,255 | 0 | 0 |
WALT DISNEY COMPANY HOLDING | COM | 254687106 | 294 | 2,103 | SH | | SOLE | | 2,103 | 0 | 0 |
WESTERN MIDSTREAM PARTNERS LP | COM | 958669103 | 223 | 7,244 | SH | | SOLE | | 7,244 | 0 | 0 |
WHITING PETE CORP | COM | 966387409 | 560 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
XYLEM INC | COM | 98419M100 | 787 | 9,405 | SH | | SOLE | | 9,405 | 0 | 0 |