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 |
AMERICAN HOMES 4 RENT E 6.35 | PFD | 02665T801 | 402 | 15,500 | SH | | SOLE | | 15,500 | 0 | 0 |
AMERICAN HOMES 4 RENT G 5.875 | PFD | 02665T876 | 371 | 14,200 | SH | | SOLE | | 14,200 | 0 | 0 |
AT&T INC 5.35 | PFD | 00206R300 | 743 | 27,775 | SH | | SOLE | | 27,775 | 0 | 0 |
BANK OF AMERICA CORP SER Y 6.5 | PFD | 060505310 | 1,119 | 44,800 | SH | | SOLE | | 44,800 | 0 | 0 |
BANK OF AMERICA SER HH 5.875 | PFD | 060505195 | 598 | 22,100 | SH | | SOLE | | 21,900 | 0 | 0 |
CAI INTL INC RED PERP PFD SER | PFD | 12477X205 | 336 | 12,900 | SH | | SOLE | | 12,900 | 0 | 0 |
CAI INTL INC RED PFD SER B 8.5 | PFD | 12477X304 | 724 | 27,675 | SH | | SOLE | | 27,675 | 0 | 0 |
CITIGROUP INC PFD SER K 6.875 | PFD | 172967341 | 1,865 | 66,200 | SH | | SOLE | | 66,100 | 0 | 0 |
COLONY CAPITAL INC PFD SER H 7 | PFD | 19626G702 | 370 | 15,475 | SH | | SOLE | | 15,475 | 0 | 0 |
COLONY CAPITAL INC PFD SER I 7 | PFD | 19626G603 | 1,655 | 68,500 | SH | | SOLE | | 68,100 | 0 | 0 |
COLONY CAPITAL INC PFD SER J 7 | PFD | 19626G504 | 1,031 | 43,100 | SH | | SOLE | | 43,100 | 0 | 0 |
FORTRESS BIOTECH PFD SER A 9.3 | PFD | 34960Q208 | 611 | 29,810 | SH | | SOLE | | 29,810 | 0 | 0 |
GMAC CAP TR SER A FLOATING RT | PFD | 361860208 | 5,203 | 199,750 | SH | | SOLE | | 198,650 | 0 | 0 |
GOLDMAN SACHS GROUP INC. PFD S | PFD | 38148B504 | 2,063 | 77,335 | SH | | SOLE | | 76,175 | 0 | 0 |
HERSHA HOSPITALITY TRUST SER D | PFD | 427825609 | 1,762 | 70,775 | SH | | SOLE | | 70,775 | 0 | 0 |
JP MORGAN CHASE & CO 6.15 09- | PFD | 48127V827 | 1,013 | 39,350 | SH | | SOLE | | 39,350 | 0 | 0 |
KKR & CO INC SER A 6.75 | PFD | 48251W203 | 1,734 | 65,200 | SH | | SOLE | | 64,450 | 0 | 0 |
MONMOUTH REAL ESTATE PFD SER C | PFD | 609720404 | 584 | 23,450 | SH | | SOLE | | 23,450 | 0 | 0 |
MORGAN STANLEY PFD SER G 6.625 | PFD | 61762V507 | 1,829 | 73,150 | SH | | SOLE | | 72,950 | 0 | 0 |
PEBBLEBROOK HOTEL TR PFD SER C | PFD | 70509V407 | 590 | 23,210 | SH | | SOLE | | 22,850 | 0 | 0 |
PLYMOUTH INDUSTRIAL PFD SER A | PFD | 729640201 | 366 | 13,800 | SH | | SOLE | | 13,800 | 0 | 0 |
SL GREEN REALTY CORP PFD I 6.5 | PFD | 78440X507 | 739 | 29,100 | SH | | SOLE | | 29,100 | 0 | 0 |
STAG INDUSTRIAL PFD SER C 6.87 | PFD | 85254J409 | 993 | 37,215 | SH | | SOLE | | 36,975 | 0 | 0 |
TELEPHONE & DATA SYSTEMS INC P | PFD | 879433837 | 1,325 | 52,250 | SH | | SOLE | | 51,050 | 0 | 0 |
UNITED STATES CELLULAR CORP PF | PFD | 911684405 | 1,595 | 63,025 | SH | | SOLE | | 63,025 | 0 | 0 |
VORNADO REALTY SER M 5.25 | PFD | 929042828 | 1,092 | 42,750 | SH | | SOLE | | 42,750 | 0 | 0 |
NEXTERA ENERGY INC CONV PFD 4. | PFD | 65339F796 | 246 | 4,800 | SH | | SOLE | | 4,800 | 0 | 0 |
AIR PRODUCTS & CHEMICALS | COM | 009158106 | 7,739 | 32,935 | SH | | SOLE | | 32,935 | 0 | 0 |
AK STEEL HLDG CORP | COM | 001547108 | 129 | 39,100 | SH | | SOLE | | 39,100 | 0 | 0 |
ALEXANDRIA REAL ESTATE EQUITIE | COM | 015271109 | 203 | 1,255 | SH | | SOLE | | 1,255 | 0 | 0 |
ALLOGENE THERAPEUTICS INC | COM | 019770106 | 926 | 35,645 | SH | | SOLE | | 35,645 | 0 | 0 |
ALLY FINANCIAL INC COM | COM | 02005N100 | 8,751 | 286,360 | SH | | SOLE | | 282,460 | 0 | 0 |
ALPHABET INC CL C | COM | 02079K107 | 7,676 | 5,741 | SH | | SOLE | | 5,741 | 0 | 0 |
AMAZON.COM | COM | 023135106 | 20,245 | 10,956 | SH | | SOLE | | 10,940 | 0 | 0 |
APPLE | COM | 037833100 | 30,804 | 104,899 | SH | | SOLE | | 104,799 | 0 | 0 |
AT&T | COM | 00206R102 | 12,106 | 309,770 | SH | | SOLE | | 304,370 | 0 | 0 |
ATLAS AIR WORLDWIDE HOLDINGS I | COM | 049164205 | 637 | 23,100 | SH | | SOLE | | 23,100 | 0 | 0 |
AXON ENTERPRISE INC | COM | 05464C101 | 220 | 3,000 | SH | | SOLE | | 3,000 | 0 | 0 |
BANK OF AMERICA | COM | 060505104 | 9,099 | 258,339 | SH | | SOLE | | 257,399 | 0 | 0 |
BEARD | COM | 07384R408 | 0 | 13,800 | SH | | SOLE | | 13,800 | 0 | 0 |
BERKSHIRE HATHAWAY DEL CL A | COM | 084670108 | 679 | 2 | SH | | SOLE | | 2 | 0 | 0 |
BGC PARTNERS INC | COM | 05541T101 | 803 | 135,250 | SH | | SOLE | | 135,250 | 0 | 0 |
BLACKHAWK CAP GROUP BDC | COM | 09236T103 | 0 | 24,000 | SH | | SOLE | | 24,000 | 0 | 0 |
CANADA GOOSE HOLDINGS INC | COM | 135086106 | 753 | 20,775 | SH | | SOLE | | 20,775 | 0 | 0 |
CIGNA CORP | COM | 125523100 | 10,125 | 49,515 | SH | | SOLE | | 48,765 | 0 | 0 |
CISCO SYSTEMS | COM | 17275R102 | 313 | 6,525 | SH | | SOLE | | 6,525 | 0 | 0 |
CITIGROUP INC | COM | 172967424 | 8,286 | 103,719 | SH | | SOLE | | 102,719 | 0 | 0 |
COMCAST CL A | COM | 20030N101 | 863 | 19,200 | SH | | SOLE | | 19,200 | 0 | 0 |
COSTCO WHSL | COM | 22160K105 | 985 | 3,350 | SH | | SOLE | | 3,350 | 0 | 0 |
DANAHER CORP COM | COM | 235851102 | 4,960 | 32,317 | SH | | SOLE | | 32,267 | 0 | 0 |
DANONE SPONSORED ADR | COM | 23636T100 | 7,928 | 477,835 | SH | | SOLE | | 470,335 | 0 | 0 |
DELTA AIR LINES INC | COM | 247361702 | 9,056 | 154,860 | SH | | SOLE | | 154,760 | 0 | 0 |
EASTERLY GOVERNMENT PROPERTIES | COM | 27616P103 | 4,463 | 188,075 | SH | | SOLE | | 188,075 | 0 | 0 |
ENTERPRISE PRODUCTS PARTNERS L | COM | 293792107 | 239 | 8,500 | SH | | SOLE | | 8,500 | 0 | 0 |
FORTRESS BIOTECH INC | COM | 34960Q109 | 801 | 311,500 | SH | | SOLE | | 311,500 | 0 | 0 |
FREEPORT MCMORAN, INC. CL B | COM | 35671D857 | 1,407 | 107,250 | SH | | SOLE | | 107,250 | 0 | 0 |
GAMING AND LEISURE PROPERTIES, | COM | 36467J108 | 6,708 | 155,815 | SH | | SOLE | | 155,315 | 0 | 0 |
GENERAL ELECTRIC | COM | 369604103 | 536 | 48,000 | SH | | SOLE | | 48,000 | 0 | 0 |
HERSHA HOSPITALITY TRUST | COM | 427825500 | 3,600 | 247,425 | SH | | SOLE | | 247,425 | 0 | 0 |
HOME DEPOT | COM | 437076102 | 262 | 1,200 | SH | | SOLE | | 1,200 | 0 | 0 |
HONEYWELL INTL INC | COM | 438516106 | 8,727 | 49,305 | SH | | SOLE | | 48,555 | 0 | 0 |
HUMANA INC | COM | 444859102 | 5,509 | 15,030 | SH | | SOLE | | 14,980 | 0 | 0 |
INCYTE | COM | 45337C102 | 8,856 | 101,415 | SH | | SOLE | | 101,415 | 0 | 0 |
INDUSTRIAL LOGISTICS PPTYS | COM | 456237106 | 7,414 | 330,700 | SH | | SOLE | | 325,100 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 737 | 5,050 | SH | | SOLE | | 5,050 | 0 | 0 |
JP MORGAN CHASE & CO | COM | 46625H100 | 265 | 1,900 | SH | | SOLE | | 1,900 | 0 | 0 |
LEXINGTON REALTY TRUST | COM | 529043101 | 9,019 | 849,250 | SH | | SOLE | | 848,350 | 0 | 0 |
LIBERTY MEDIA CORP SIRIUSXM GR | COM | 531229607 | 338 | 7,028 | SH | | SOLE | | 7,028 | 0 | 0 |
LINDE PLC | COM | G5494J103 | 4,543 | 21,340 | SH | | SOLE | | 21,340 | 0 | 0 |
MADRIGAL PHARMACEUTICALS INC | COM | 558868105 | 1,585 | 17,400 | SH | | SOLE | | 17,400 | 0 | 0 |
MARATHON PETROLEUM CORP | COM | 56585A102 | 721 | 11,970 | SH | | SOLE | | 11,970 | 0 | 0 |
MCDONALDS | COM | 580135101 | 346 | 1,750 | SH | | SOLE | | 1,750 | 0 | 0 |
MERCK & CO INC | COM | 58933Y105 | 564 | 6,200 | SH | | SOLE | | 6,200 | 0 | 0 |
MICROSOFT | COM | 594918104 | 1,372 | 8,702 | SH | | SOLE | | 8,702 | 0 | 0 |
NEXTERA ENERGY INC COM | COM | 65339F101 | 8,733 | 36,064 | SH | | SOLE | | 35,429 | 0 | 0 |
OPKO HEALTH INC COM | COM | 68375N103 | 16 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
PAYPAL HOLDINGS INC | COM | 70450Y103 | 9,092 | 84,050 | SH | | SOLE | | 84,050 | 0 | 0 |
PEPSICO INC | COM | 713448108 | 287 | 2,100 | SH | | SOLE | | 2,100 | 0 | 0 |
PROCTER & GAMBLE | COM | 742718109 | 212 | 1,700 | SH | | SOLE | | 1,700 | 0 | 0 |
QEP RESOURCES | COM | 74733V100 | 455 | 101,200 | SH | | SOLE | | 101,200 | 0 | 0 |
QURATE RETAIL INC QVC GROUP CO | COM | 74915M100 | 93 | 11,044 | SH | | SOLE | | 11,044 | 0 | 0 |
ROYAL BANK OF CANADA | COM | 780087102 | 549 | 6,931 | SH | | SOLE | | 6,931 | 0 | 0 |
SALESFORCE.COM INC | COM | 79466L302 | 5,269 | 32,398 | SH | | SOLE | | 32,398 | 0 | 0 |
SOLENO THERAPEUTICS INC COM | COM | 834203200 | 104 | 35,500 | SH | | SOLE | | 35,500 | 0 | 0 |
SPDR GOLD TRUST | COM | 78463V107 | 965 | 6,750 | SH | | SOLE | | 6,750 | 0 | 0 |
STARWOOD PROPERTY TRUST INC | COM | 85571B105 | 12,448 | 500,730 | SH | | SOLE | | 497,530 | 0 | 0 |
TAKE TWO INTERACTIVE SOFTWARE | COM | 874054109 | 7,087 | 57,890 | SH | | SOLE | | 57,890 | 0 | 0 |
THL CREDIT INC | COM | 872438106 | 706 | 111,900 | SH | | SOLE | | 111,900 | 0 | 0 |
ULTRALIFE BATTERIES | COM | 903899102 | 108 | 14,638 | SH | | SOLE | | 14,638 | 0 | 0 |
UNITEDHEALTH | COM | 91324p102 | 235 | 800 | SH | | SOLE | | 800 | 0 | 0 |
UROGEN PHARMA LTD | COM | M96088105 | 2,237 | 67,025 | SH | | SOLE | | 67,025 | 0 | 0 |
VERIZON COMMUNICATIONS | COM | 92343V104 | 311 | 5,068 | SH | | SOLE | | 5,068 | 0 | 0 |
VERTEX PHARMACEUTICALS INC COM | COM | 92532F100 | 219 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
VIACOMCBS INC | COM | 92556H206 | 8,488 | 202,245 | SH | | SOLE | | 202,095 | 0 | 0 |
VICOR CORP | COM | 925815102 | 1,858 | 39,770 | SH | | SOLE | | 39,770 | 0 | 0 |
WALT DISNEY COMPANY HOLDING | COM | 254687106 | 304 | 2,103 | SH | | SOLE | | 2,103 | 0 | 0 |