KCM Investment Advisors 13F-HR/A Quarterly holdings report by institutional manager (amended)

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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
1/100 Berkshire Hathaway A (10	COM	084990175	488	2	SH		SOLE		200	0	0
3M Company	COM	88579y101	18,592	104,114	SH		SOLE		104,114	0	0
ABB Ltd-Spon ADR	COM	000375204	4,185	198,614	SH		SOLE		198,614	0	0
AT&T Inc	COM	00206r102	9,087	213,668	SH		SOLE		213,668	0	0
AbbVie Inc	COM	00287y109	10,080	160,963	SH		SOLE		160,963	0	0
Abbott Laboratories	COM	002824100	8,094	210,728	SH		SOLE		210,728	0	0
Acacia Communications Inc	COM	00401c108	300	4,851	SH		SOLE		4,851	0	0
Accenture PLC-Cl A	COM	g1151c101	4,164	35,549	SH		SOLE		35,549	0	0
Adient PLC	COM	g0084w101	205	3,493	SH		SOLE		3,493	0	0
Adobe Systems Inc	COM	00724f101	931	9,040	SH		SOLE		9,040	0	0
Aetna Inc	COM	00817Y108	839	6,769	SH		SOLE		6,769	0	0
Aflac Inc	COM	001055102	827	11,878	SH		SOLE		11,878	0	0
Agilent Technologies Inc	COM	00846u101	796	17,465	SH		SOLE		17,465	0	0
Air Products & Chemicals Inc	COM	009158106	6,417	44,617	SH		SOLE		44,617	0	0
Allegion PLC	COM	g0176j109	209	3,267	SH		SOLE		3,267	0	0
Allergan plc (new)	COM	g0177j108	680	3,239	SH		SOLE		3,239	0	0
Allstate Corp	COM	020002101	428	5,777	SH		SOLE		5,777	0	0
Alphabet Inc-Cl A	COM	02079k305	7,012	8,848	SH		SOLE		8,848	0	0
Alphabet Inc-Cl C	COM	02079k107	5,006	6,486	SH		SOLE		6,486	0	0
Altria Group Inc	COM	02209s103	11,032	163,144	SH		SOLE		163,144	0	0
Amarillo Gold Corp	COM	02301t108	3	13,000	SH		SOLE		13,000	0	0
Amazon.com Inc	COM	023135106	1,087	1,449	SH		SOLE		1,449	0	0
American Electric Power	COM	025537101	482	7,663	SH		SOLE		7,663	0	0
American Express Co	COM	025816109	1,466	19,794	SH		SOLE		19,794	0	0
AmerisourceBergen Corp	COM	03073e105	412	5,268	SH		SOLE		5,268	0	0
Ametek Inc	COM	031100100	201	4,135	SH		SOLE		4,135	0	0
Amgen Inc	COM	031162100	2,365	16,176	SH		SOLE		16,176	0	0
Anthem Inc	COM	036752103	2,460	17,114	SH		SOLE		17,114	0	0
Apple Inc	COM	037833100	30,323	261,815	SH		SOLE		261,815	0	0
Archer-Daniels-Midland Co	COM	039483102	900	19,723	SH		SOLE		19,723	0	0
Ares Capital Corp	COM	04010l103	173	10,484	SH		SOLE		10,484	0	0
Automatic Data Processing	COM	053015103	18,226	177,327	SH		SOLE		177,327	0	0
BCE Inc	COM	05534b760	2,730	63,141	SH		SOLE		63,141	0	0
Bank Of Marin Bancorp/CA	COM	063425102	841	12,051	SH		SOLE		12,051	0	0
Bank Of New York Mellon Corp	COM	064058100	212	4,465	SH		SOLE		4,465	0	0
Bank of America Corp	COM	060505104	8,701	393,717	SH		SOLE		393,717	0	0
Baxter International Inc.	COM	071813109	344	7,747	SH		SOLE		7,747	0	0
Becton Dickinson & Co	COM	075887109	2,964	17,905	SH		SOLE		17,905	0	0
Berkshire Hathaway Inc-Cl B	COM	084670702	3,853	23,642	SH		SOLE		23,642	0	0
Biogen Inc	COM	09062x103	1,314	4,635	SH		SOLE		4,635	0	0
Blackrock Inc	COM	09247x101	269	707	SH		SOLE		707	0	0
Blackstone Group/The	COM	09253u108	905	33,496	SH		SOLE		33,496	0	0
Boeing Co	COM	097023105	2,064	13,261	SH		SOLE		13,261	0	0
Bristol-Myers Squibb Co	COM	110122108	17,263	295,396	SH		SOLE		295,396	0	0
Broadcom Ltd	COM	y09827109	351	1,986	SH		SOLE		1,986	0	0
Brown-Forman Corp -Cl B	COM	115637209	263	5,862	SH		SOLE		5,862	0	0
CBS Corp-Class B	COM	124857202	2,725	42,825	SH		SOLE		42,825	0	0
CR Bard Inc	COM	067383109	451	2,006	SH		SOLE		2,006	0	0
CVS Health Corp	COM	126650100	4,435	56,204	SH		SOLE		56,204	0	0
CalAtlantic Group	COM	128195104	884	26,000	SH		SOLE		26,000	0	0
Canadian Natl Railway Co	COM	136375102	222	3,290	SH		SOLE		3,290	0	0
CarMax Inc	COM	143130102	228	3,540	SH		SOLE		3,540	0	0
Carlyle Group/The	COM	14309l102	166	10,900	SH		SOLE		10,900	0	0
Caterpillar Inc	COM	149123101	2,949	31,803	SH		SOLE		31,803	0	0
Celgene Corp	COM	151020104	749	6,472	SH		SOLE		6,472	0	0
CenterPoint Energy Inc	COM	15189t107	2,060	83,598	SH		SOLE		83,598	0	0
Cerner Corp	COM	156782104	2,499	52,761	SH		SOLE		52,761	0	0
Cerus Corp	COM	157085101	44	10,000	SH		SOLE		10,000	0	0
Check Point Software Tech	COM	m22465104	925	10,951	SH		SOLE		10,951	0	0
Chevron Corp	COM	166764100	29,914	254,157	SH		SOLE		254,157	0	0
Chubb Ltd (new)	COM	h1467j104	2,856	21,619	SH		SOLE		21,619	0	0
Cigna Corp	COM	125509109	225	1,688	SH		SOLE		1,688	0	0
Cincinnati Financial Corp	COM	172062101	668	8,816	SH		SOLE		8,816	0	0
Cintas Corp	COM	172908105	390	3,378	SH		SOLE		3,378	0	0
Cisco Systems Inc	COM	17275R102	4,241	140,342	SH		SOLE		140,342	0	0
Citigroup Inc	COM	172967424	374	6,301	SH		SOLE		6,301	0	0
Clorox Company	COM	189054109	12,791	106,571	SH		SOLE		106,571	0	0
Coca-Cola Co/The	COM	191216100	5,229	126,130	SH		SOLE		126,130	0	0
Colgate-Palmolive Co	COM	194162103	8,713	133,143	SH		SOLE		133,143	0	0
Comcast Corp-Cl A	COM	20030n101	9,457	136,962	SH		SOLE		136,962	0	0
Conagra Brands Inc	COM	205887102	1,246	31,494	SH		SOLE		31,494	0	0
ConocoPhillips	COM	20825C104	6,463	128,897	SH		SOLE		128,897	0	0
Consolidated Edison Inc	COM	209115104	730	9,904	SH		SOLE		9,904	0	0
Costco Wholesale Corp	COM	22160K105	18,308	114,348	SH		SOLE		114,348	0	0
Crown Castle Intl Corp	COM	22822v101	14,024	161,622	SH		SOLE		161,622	0	0
DTE Energy Company	COM	233331107	221	2,247	SH		SOLE		2,247	0	0
Danaher Corp	COM	235851102	4,079	52,408	SH		SOLE		52,408	0	0
Deere & Co	COM	244199105	1,267	12,298	SH		SOLE		12,298	0	0
Diageo Plc-Sponsored ADR	COM	25243q205	469	4,508	SH		SOLE		4,508	0	0
Dick's Sporting Goods Inc	COM	253393102	787	14,825	SH		SOLE		14,825	0	0
Disney Co./Walt The	COM	254687106	18,385	176,407	SH		SOLE		176,407	0	0
Dominion Resources Inc/Va	COM	25746u109	674	8,801	SH		SOLE		8,801	0	0
Dover Corp	COM	260003108	490	6,533	SH		SOLE		6,533	0	0
Dow Chemical	COM	260543103	610	10,669	SH		SOLE		10,669	0	0
Dr Pepper Snapple Group Inc	COM	26138e109	723	7,973	SH		SOLE		7,973	0	0
Du Pont (E.I.) De Nemours	COM	263534109	8,103	110,393	SH		SOLE		110,393	0	0
Duke Energy Corp	COM	26441c204	725	9,336	SH		SOLE		9,336	0	0
ETFS Physical Precious Metals	COM	26922w109	251	4,365	SH		SOLE		4,365	0	0
Eaton Corp PLC	COM	g29183103	1,162	17,324	SH		SOLE		17,324	0	0
Ecolab Inc	COM	278865100	11,298	96,383	SH		SOLE		96,383	0	0
Edison International	COM	281020107	10,010	139,049	SH		SOLE		139,049	0	0
Edwards Lifesciences Corp	COM	28176e108	214	2,284	SH		SOLE		2,284	0	0
Eli Lilly & Co	COM	532457108	4,709	64,025	SH		SOLE		64,025	0	0
Emerson Electric Co	COM	291011104	1,840	32,997	SH		SOLE		32,997	0	0
Encounter Technologies Inc	COM	29259j303	0	62,000	SH		SOLE		62,000	0	0
Enterprise Products Partners	COM	293792107	1,040	38,461	SH		SOLE		38,461	0	0
Equity Residential	COM	29476l107	205	3,185	SH		SOLE		3,185	0	0
Essex Property Trust Inc	COM	297178105	430	1,850	SH		SOLE		1,850	0	0
Eurasian Minerals Inc	COM	29843r100	84	80,386	SH		SOLE		80,386	0	0
Eversource Energy	COM	30040w108	348	6,306	SH		SOLE		6,306	0	0
Express Scripts Holding Co.	COM	30219g108	814	11,830	SH		SOLE		11,830	0	0
Exxon Mobil Corp	COM	30231G102	11,945	132,344	SH		SOLE		132,344	0	0
Facebook Inc	COM	30303m102	34,246	297,663	SH		SOLE		297,663	0	0
FedEx Corp	COM	31428x106	821	4,411	SH		SOLE		4,411	0	0
First Republic Bank/San Franci	COM	33616C100	2,732	29,646	SH		SOLE		29,646	0	0
First Trust Mid Cap Growth Alp	COM	33737m102	1,970	62,763	SH		SOLE		62,763	0	0
First Trust Mid Cap Value ETF	COM	33737m201	289	8,783	SH		SOLE		8,783	0	0
First Trust Morningstar Divide	COM	336917109	1,485	53,493	SH		SOLE		53,493	0	0
First Trust Rising Dividend Ac	COM	33738r506	281	11,384	SH		SOLE		11,384	0	0
Ford Motor Co	COM	345370860	337	27,754	SH		SOLE		27,754	0	0
Fortinet Inc	COM	34959e109	296	9,840	SH		SOLE		9,840	0	0
Fortive Corp	COM	34959j108	525	9,787	SH		SOLE		9,787	0	0
Franklin Covey Co	COM	353469109	202	10,000	SH		SOLE		10,000	0	0
Freeport McMoRan Inc-B	COM	35671d857	169	12,790	SH		SOLE		12,790	0	0
Frontier Communications Corp	COM	35906a108	222	65,823	SH		SOLE		65,823	0	0
General Dynamics Corp	COM	369550108	2,862	16,574	SH		SOLE		16,574	0	0
General Electric Co	COM	369604103	24,610	778,798	SH		SOLE		778,798	0	0
General Mills Inc	COM	370334104	6,278	101,629	SH		SOLE		101,629	0	0
General Motors Co	COM	37045v100	300	8,625	SH		SOLE		8,625	0	0
Genuine Parts Co	COM	372460105	6,448	67,487	SH		SOLE		67,487	0	0
Gilead Sciences Inc	COM	375558103	1,425	19,900	SH		SOLE		19,900	0	0
GlaxoSmithKline Plc-ADR	COM	37733w105	1,120	29,094	SH		SOLE		29,094	0	0
Global Brands Group Holding	COM	g39338101	1	10,000	SH		SOLE		10,000	0	0
Goldman Sachs Group Inc	COM	38141G104	556	2,320	SH		SOLE		2,320	0	0
Grainger (W.W.) Inc	COM	384802104	641	2,761	SH		SOLE		2,761	0	0
Great Plains Energy Inc	COM	391164100	1,252	45,795	SH		SOLE		45,795	0	0
Groupon Inc	COM	399473107	226	68,000	SH		SOLE		68,000	0	0
Guggenheim Russell Top 50 ETF	COM	78355w205	766	4,863	SH		SOLE		4,863	0	0
Guggenheim S&P Equal Weight	COM	78355w106	569	6,572	SH		SOLE		6,572	0	0
Guggenheim S&P Equal Weight En	COM	78355w866	204	3,192	SH		SOLE		3,192	0	0
HCP Inc REIT	COM	40414l109	5,278	177,601	SH		SOLE		177,601	0	0
Harman International	COM	413086109	838	7,540	SH		SOLE		7,540	0	0
Hess Corp	COM	42809h107	436	7,000	SH		SOLE		7,000	0	0
Hewlett Packard Enterprise	COM	42824c109	297	12,856	SH		SOLE		12,856	0	0
Home Depot Inc	COM	437076102	12,003	89,519	SH		SOLE		89,519	0	0
Honeywell International Inc	COM	438516106	5,902	50,941	SH		SOLE		50,941	0	0
Hormel Foods Corp	COM	440452100	720	20,694	SH		SOLE		20,694	0	0
Illinois Tool Works	COM	452308109	1,048	8,558	SH		SOLE		8,558	0	0
Ingersoll-Rand PLC	COM	g47791101	2,350	31,318	SH		SOLE		31,318	0	0
Integral Technologies Inc	COM	45810j103	2	17,000	SH		SOLE		17,000	0	0
Intel Corp	COM	458140100	14,852	409,492	SH		SOLE		409,492	0	0
International Paper Co	COM	460146103	245	4,624	SH		SOLE		4,624	0	0
Intl Business Machines Corp	COM	459200101	4,667	28,119	SH		SOLE		28,119	0	0
Intl Flavors & Fragrances	COM	459506101	736	6,250	SH		SOLE		6,250	0	0
Intrexon Corp	COM	46122t102	256	10,520	SH		SOLE		10,520	0	0
Ivanhoe Mines Ltd	COM	46579r104	456	240,000	SH		SOLE		240,000	0	0
JPMorgan Chase & Co	COM	46625H100	11,452	132,714	SH		SOLE		132,714	0	0
Jacobs Engineering Group Inc	COM	469814107	325	5,703	SH		SOLE		5,703	0	0
Johnson & Johnson	COM	478160104	29,286	254,199	SH		SOLE		254,199	0	0
Johnson Controls Intl PLC	COM	g51502105	1,693	41,108	SH		SOLE		41,108	0	0
KKR & Co LP	COM	48248m102	191	12,400	SH		SOLE		12,400	0	0
Keysight Technologies Inc	COM	49338l103	286	7,831	SH		SOLE		7,831	0	0
Kimberly-Clark Corp	COM	494368103	15,695	137,528	SH		SOLE		137,528	0	0
Kinder Morgan Inc	COM	49456b101	4,901	236,633	SH		SOLE		236,633	0	0
Kraft Heinz Co/The	COM	500754106	3,433	39,317	SH		SOLE		39,317	0	0
L3 Technologies Inc	COM	502413107	411	2,701	SH		SOLE		2,701	0	0
Laboratory Corp Of Amer Hldgs	COM	50540r409	1,940	15,110	SH		SOLE		15,110	0	0
Lam Research Corp	COM	512807108	298	2,816	SH		SOLE		2,816	0	0
Lamb Weston Holdings Inc	COM	513272104	383	10,120	SH		SOLE		10,120	0	0
Leggett & Platt Inc	COM	524660107	598	12,242	SH		SOLE		12,242	0	0
Li & Fung Ltd	COM	g5485f169	4	10,000	SH		SOLE		10,000	0	0
Lockheed Martin Corp	COM	539830109	4,948	19,797	SH		SOLE		19,797	0	0
Lowe's Cos Inc	COM	548661107	3,734	52,502	SH		SOLE		52,502	0	0
Lululemon Athletica Inc	COM	550021109	569	8,760	SH		SOLE		8,760	0	0
Macy's Inc	COM	55616p104	910	25,406	SH		SOLE		25,406	0	0
Manulife Financial Corp	COM	56501r106	763	42,813	SH		SOLE		42,813	0	0
Marathon Petroleum Corp	COM	56585a102	342	6,794	SH		SOLE		6,794	0	0
Marriott International-Cl A	COM	571903202	3,755	45,418	SH		SOLE		45,418	0	0
McCormick & Co-Non Votung Shrs	COM	579780206	2,348	25,160	SH		SOLE		25,160	0	0
McDonald's Corp	COM	580135101	12,102	99,428	SH		SOLE		99,428	0	0
Medical Properties Trust Inc	COM	58463j304	208	16,919	SH		SOLE		16,919	0	0
Medtronic PLC	COM	g5960l103	6,234	87,522	SH		SOLE		87,522	0	0
Merck & Co. Inc.	COM	58933y105	8,652	146,976	SH		SOLE		146,976	0	0
Microsoft Corp	COM	594918104	19,730	317,512	SH		SOLE		317,512	0	0
Middleby Corp	COM	596278101	212	1,648	SH		SOLE		1,648	0	0
Mobileye NV	COM	n51488117	611	16,026	SH		SOLE		16,026	0	0
Mondelez International	COM	609207105	2,593	58,483	SH		SOLE		58,483	0	0
Morgan Stanley	COM	617446448	3,461	81,913	SH		SOLE		81,913	0	0
NXP Semiconductors Nv	COM	n6596x109	891	9,091	SH		SOLE		9,091	0	0
Nestle Sa-Spons ADR For Reg	COM	641069406	4,075	56,809	SH		SOLE		56,809	0	0
NextEra Energy Inc	COM	65339f101	13,188	110,394	SH		SOLE		110,394	0	0
Nike Inc -Cl B	COM	654106103	8,232	161,949	SH		SOLE		161,949	0	0
Nordstrom Inc	COM	655664100	371	7,741	SH		SOLE		7,741	0	0
Norfolk Southern Corp	COM	655844108	525	4,857	SH		SOLE		4,857	0	0
Northrop Grumman Corp	COM	666807102	232	999	SH		SOLE		999	0	0
Novartis Ag-ADR	COM	66987v109	2,453	33,682	SH		SOLE		33,682	0	0
Nucor Corp	COM	670346105	360	6,046	SH		SOLE		6,046	0	0
Occidental Petroleum Corp	COM	674599105	6,873	96,492	SH		SOLE		96,492	0	0
Oracle Corp	COM	68389x105	3,788	98,524	SH		SOLE		98,524	0	0
P G & E Corp	COM	69331c108	830	13,654	SH		SOLE		13,654	0	0
Paccar Inc	COM	693718108	1,441	22,555	SH		SOLE		22,555	0	0
Palo Alto Networks	COM	697435105	1,741	13,920	SH		SOLE		13,920	0	0
Parker-Hannifin Corp	COM	701094104	267	1,908	SH		SOLE		1,908	0	0
Paychex Inc	COM	704326107	211	3,467	SH		SOLE		3,467	0	0
Pentair PLC	COM	g7s00t104	436	7,782	SH		SOLE		7,782	0	0
PepsiCo Inc	COM	713448108	9,043	86,427	SH		SOLE		86,427	0	0
Pfizer Inc	COM	717081103	9,280	285,719	SH		SOLE		285,719	0	0
Philip Morris International	COM	718172109	2,484	27,153	SH		SOLE		27,153	0	0
Phillips 66	COM	718546104	316	3,654	SH		SOLE		3,654	0	0
Piedmont Office Realty Trust	COM	720190206	397	19,000	SH		SOLE		19,000	0	0
Plains All American Pipeline L	COM	726503105	209	6,482	SH		SOLE		6,482	0	0
Potash Corp Of Saskatchewan	COM	73755l107	275	15,200	SH		SOLE		15,200	0	0
PowerShares Buyback Achievers	COM	73935x286	273	5,419	SH		SOLE		5,419	0	0
PowerShares Preferred Portfoli	COM	73936t565	11,929	838,334	SH		SOLE		838,334	0	0
Powershares QQQ NASDAQ 100 Tru	COM	73935a104	3,815	32,200	SH		SOLE		32,200	0	0
Praxair Inc	COM	74005p104	2,401	20,485	SH		SOLE		20,485	0	0
Preferred Apartment Communitie	COM	74039l103	3,711	248,900	SH		SOLE		248,900	0	0
ProLogis Inc	COM	74340w103	636	12,044	SH		SOLE		12,044	0	0
Procter & Gamble Co	COM	742718109	25,122	298,784	SH		SOLE		298,784	0	0
Propanc Health Group Corp	COM	74345c102	2	280,000	SH		SOLE		280,000	0	0
Public Service Enterprise Grou	COM	744573106	2,560	58,351	SH		SOLE		58,351	0	0
Public Storage Inc	COM	74460d109	541	2,422	SH		SOLE		2,422	0	0
Qualcomm Inc	COM	747525103	498	7,643	SH		SOLE		7,643	0	0
Quest Diagnostics	COM	74834l100	306	3,325	SH		SOLE		3,325	0	0
Raytheon Company	COM	755111507	1,156	8,138	SH		SOLE		8,138	0	0
Realty Income Corp	COM	756109104	11,135	193,719	SH		SOLE		193,719	0	0
Regeneron Pharmaceuticals Inc	COM	75886f107	427	1,162	SH		SOLE		1,162	0	0
Retail Properties of America	COM	76131v202	359	23,393	SH		SOLE		23,393	0	0
Robert Half Intl Inc	COM	770323103	267	5,483	SH		SOLE		5,483	0	0
Roche Holdings LTD-Spons ADR	COM	771195104	3,378	118,400	SH		SOLE		118,400	0	0
Rockwell Collins Inc.	COM	774341101	684	7,375	SH		SOLE		7,375	0	0
Roper Technologies Inc	COM	776696106	233	1,273	SH		SOLE		1,273	0	0
Royal Dutch Shell Plc-ADR A	COM	780259206	511	9,400	SH		SOLE		9,400	0	0
S&P Global Inc	COM	78409v104	1,158	10,767	SH		SOLE		10,767	0	0
SAP SE-Sponsored ADR	COM	803054204	690	7,985	SH		SOLE		7,985	0	0
SPDR Consumer Discretionary Se	COM	81369y407	6,922	85,034	SH		SOLE		85,034	0	0
SPDR Consumer Staples Select S	COM	81369y308	4,890	94,567	SH		SOLE		94,567	0	0
SPDR Dow Jones Industrial Aver	COM	78467x109	1,061	5,371	SH		SOLE		5,371	0	0
SPDR Energy Select Sector	COM	81369y506	14,789	196,343	SH		SOLE		196,343	0	0
SPDR Financial Select Sector	COM	81369y605	4,446	191,240	SH		SOLE		191,240	0	0
SPDR Gold Trust	COM	78463v107	1,612	14,703	SH		SOLE		14,703	0	0
SPDR Health Care Select Sector	COM	81369y209	6,450	93,555	SH		SOLE		93,555	0	0
SPDR Industrial Select Sector	COM	81369y704	5,708	91,734	SH		SOLE		91,734	0	0
SPDR Materials Select Sector	COM	81369y100	1,720	34,607	SH		SOLE		34,607	0	0
SPDR Real Estate Sector	COM	81369y860	584	18,977	SH		SOLE		18,977	0	0
SPDR S&P 500 Index Trust Serie	COM	78462f103	7,480	33,463	SH		SOLE		33,463	0	0
SPDR S&P Aerospace & Defense E	COM	78464a631	343	5,412	SH		SOLE		5,412	0	0
SPDR S&P Biotech ETF	COM	78464a870	352	5,940	SH		SOLE		5,940	0	0
SPDR S&P Dividend	COM	78464a763	12,202	142,612	SH		SOLE		142,612	0	0
SPDR S&P MidCap 400 ETF Trust	COM	78467y107	11,116	36,841	SH		SOLE		36,841	0	0
SPDR Technology Select Sector	COM	81369y803	9,758	201,782	SH		SOLE		201,782	0	0
SPDR Utilities Select Sector	COM	81369y886	976	20,091	SH		SOLE		20,091	0	0
SVB Financial Group	COM	78486q101	4,292	25,000	SH		SOLE		25,000	0	0
Salesforce.Com Inc	COM	79466l302	2,073	30,279	SH		SOLE		30,279	0	0
Sanofi-ADR	COM	80105n105	1,714	42,391	SH		SOLE		42,391	0	0
Scana Corp	COM	80589m102	921	12,574	SH		SOLE		12,574	0	0
Schlumberger Ltd	COM	806857108	724	8,628	SH		SOLE		8,628	0	0
Schwab (Charles) Corp	COM	808513105	982	24,889	SH		SOLE		24,889	0	0
Schwab US Broad Market ETF	COM	808524102	1,770	32,674	SH		SOLE		32,674	0	0
Schwab US Dividend Equity ETF	COM	808524797	7,170	164,554	SH		SOLE		164,554	0	0
Schwab US Large-Cap ETF	COM	808524201	1,743	32,729	SH		SOLE		32,729	0	0
Schwab US Mid-Cap ETF	COM	808524508	1,353	29,963	SH		SOLE		29,963	0	0
Sempra Energy	COM	816851109	3,326	33,053	SH		SOLE		33,053	0	0
Sherwin-Williams Co	COM	824348106	532	1,980	SH		SOLE		1,980	0	0
Siemens Ag-Spons ADR	COM	826197501	256	2,092	SH		SOLE		2,092	0	0
Silvercorp Metals Inc	COM	82835p103	23	10,000	SH		SOLE		10,000	0	0
Simon Property Group Inc	COM	828806109	358	2,017	SH		SOLE		2,017	0	0
Southern Co	COM	842587107	1,880	38,216	SH		SOLE		38,216	0	0
Southwest Airlines	COM	844741108	511	10,254	SH		SOLE		10,254	0	0
Spectra Energy Corp	COM	847560109	4,688	114,092	SH		SOLE		114,092	0	0
Spectral Medical Inc	COM	847577103	6	25,000	SH		SOLE		25,000	0	0
Sprott Resource Corp	COM	85207d103	191	526,834	SH		SOLE		526,834	0	0
St Jude Medical Inc	COM	790849103	548	6,828	SH		SOLE		6,828	0	0
Stanley Black & Decker Inc	COM	854502101	5,537	48,280	SH		SOLE		48,280	0	0
Starbucks Corp	COM	855244109	6,855	123,471	SH		SOLE		123,471	0	0
State Street Corp	COM	857477103	313	4,025	SH		SOLE		4,025	0	0
Stryker Corp	COM	863667101	205	1,715	SH		SOLE		1,715	0	0
Sysco Corp	COM	871829107	828	14,950	SH		SOLE		14,950	0	0
T Rowe Price Group Inc	COM	74144t108	677	8,999	SH		SOLE		8,999	0	0
TJX Companies Inc	COM	872540109	523	6,955	SH		SOLE		6,955	0	0
Target Corp	COM	87612e106	8,373	115,927	SH		SOLE		115,927	0	0
Tesla Motors Inc	COM	88160r101	784	3,668	SH		SOLE		3,668	0	0
Teva Pharmaceutical-Sp ADR	COM	881624209	310	8,549	SH		SOLE		8,549	0	0
Texas Instruments Inc	COM	882508104	540	7,396	SH		SOLE		7,396	0	0
Thermo Fisher Scientific Inc	COM	883556102	239	1,691	SH		SOLE		1,691	0	0
Time Warner Inc	COM	887317303	3,058	31,682	SH		SOLE		31,682	0	0
Toronto Dominion Bank	COM	891160509	5,435	110,154	SH		SOLE		110,154	0	0
Toyota Motor Corp -Spon ADR	COM	892331307	2,118	18,070	SH		SOLE		18,070	0	0
Travelers Cos Inc/The	COM	89417e109	3,452	28,202	SH		SOLE		28,202	0	0
Tri-Valley Corporation	COM	895735108	0	30,600	SH		SOLE		30,600	0	0
U S Bancorp	COM	902973304	3,779	73,565	SH		SOLE		73,565	0	0
UDR Inc	COM	902653104	258	7,080	SH		SOLE		7,080	0	0
Unilever N V -NY Shares	COM	904784709	3,606	87,818	SH		SOLE		87,818	0	0
Unilever Plc-Sponsored ADR	COM	904767704	1,605	39,435	SH		SOLE		39,435	0	0
Union Pacific Corp	COM	907818108	2,228	21,485	SH		SOLE		21,485	0	0
United Parcel Service-Cl B	COM	911312106	9,264	80,811	SH		SOLE		80,811	0	0
United Technologies Corp	COM	913017109	3,485	31,795	SH		SOLE		31,795	0	0
UnitedHealth Group Inc	COM	91324P102	1,791	11,191	SH		SOLE		11,191	0	0
VF Corporation	COM	918204108	306	5,740	SH		SOLE		5,740	0	0
Valero Energy Corp	COM	91913Y100	216	3,156	SH		SOLE		3,156	0	0
VanEck Vectors Pharmaceutical	COM	92189f692	325	6,193	SH		SOLE		6,193	0	0
Vanguard Consumer Discretionar	COM	92204a108	492	3,821	SH		SOLE		3,821	0	0
Vanguard Consumer Staples Vipe	COM	92204a207	286	2,135	SH		SOLE		2,135	0	0
Vanguard Developed Mkts	COM	921943858	1,155	31,620	SH		SOLE		31,620	0	0
Vanguard Dividend Appreciation	COM	921908844	722	8,475	SH		SOLE		8,475	0	0
Vanguard Emerging Mkts	COM	922042858	653	18,239	SH		SOLE		18,239	0	0
Vanguard High Div Yield	COM	921946406	3,040	40,122	SH		SOLE		40,122	0	0
Vanguard Info Tech Vipers	COM	92204a702	569	4,681	SH		SOLE		4,681	0	0
Vanguard Large-Cap Vipers ETF	COM	922908637	307	3,000	SH		SOLE		3,000	0	0
Vanguard Mid-Cap	COM	922908629	2,539	19,290	SH		SOLE		19,290	0	0
Vanguard REIT	COM	922908553	602	7,295	SH		SOLE		7,295	0	0
Vanguard Small-Cap Vipers	COM	922908751	2,115	16,398	SH		SOLE		16,398	0	0
Vanguard Total Stock Market	COM	922908769	15,503	134,435	SH		SOLE		134,435	0	0
Varian Medical Systems Inc	COM	92220P105	2,035	22,668	SH		SOLE		22,668	0	0
Verisk Analytics Inc-Class A	COM	92345Y106	657	8,090	SH		SOLE		8,090	0	0
Verizon Communications Inc	COM	92343v104	31,977	599,037	SH		SOLE		599,037	0	0
Visa Inc-Class A Shares	COM	92826c839	2,596	33,276	SH		SOLE		33,276	0	0
Vornado Realty Trust	COM	929042109	7,181	68,803	SH		SOLE		68,803	0	0
Voyant International Corp	COM	92909w108	0	53,652	SH		SOLE		53,652	0	0
WEC Energy Group Inc	COM	92939u106	5,198	88,632	SH		SOLE		88,632	0	0
Wal-Mart Stores Inc	COM	931142103	1,420	20,538	SH		SOLE		20,538	0	0
Walgreens Boots Alliance Inc	COM	931427108	11,681	141,145	SH		SOLE		141,145	0	0
Waste Management Inc	COM	94106l109	13,905	196,093	SH		SOLE		196,093	0	0
Wells Fargo & Company	COM	949746101	35,859	650,688	SH		SOLE		650,688	0	0
Weyerhaeuser Co	COM	962166104	533	17,721	SH		SOLE		17,721	0	0
Whirlpool Corp	COM	963320106	2,817	15,500	SH		SOLE		15,500	0	0
White Mountains Insurance Grou	COM	g9618e107	657	786	SH		SOLE		786	0	0
Whole Foods Market Inc	COM	966837106	3,529	114,722	SH		SOLE		114,722	0	0
Williams Cos Inc	COM	969457100	5,019	161,190	SH		SOLE		161,190	0	0
Williams-Sonoma Inc	COM	969904101	3,939	81,395	SH		SOLE		81,395	0	0
WisdomTree MidCap Div Index	COM	97717w505	332	3,513	SH		SOLE		3,513	0	0
Xcel Energy Inc	COM	98389b100	222	5,461	SH		SOLE		5,461	0	0
Yahoo! Inc	COM	984332106	856	22,135	SH		SOLE		22,135	0	0
Yum! Brands Inc	COM	988498101	295	4,658	SH		SOLE		4,658	0	0
Zimmer Biomet Holdings Inc	COM	98956p102	2,197	21,284	SH		SOLE		21,284	0	0
iShares Core Dividend Growth	COM	46434v621	379	13,123	SH		SOLE		13,123	0	0
iShares Core US Value	COM	464287663	226	4,608	SH		SOLE		4,608	0	0
iShares DJ Select Dividend Ind	COM	464287168	7,332	82,780	SH		SOLE		82,780	0	0
iShares DJ US Energy Sector	COM	464287796	1,112	26,768	SH		SOLE		26,768	0	0
iShares DJ US Financial Sect	COM	464287788	1,191	11,734	SH		SOLE		11,734	0	0
iShares DJ US Health Car Pro	COM	464288828	257	2,054	SH		SOLE		2,054	0	0
iShares DJ US Telecommunicatio	COM	464287713	1,000	28,979	SH		SOLE		28,979	0	0
iShares DJ US Transport Index	COM	464287192	1,648	10,120	SH		SOLE		10,120	0	0
iShares Goldman Sachs Tech I	COM	464287721	278	2,310	SH		SOLE		2,310	0	0
iShares MSCI EAFE Index	COM	464287465	820	14,212	SH		SOLE		14,212	0	0
iShares MSCI Emerging Markets	COM	464287234	333	9,520	SH		SOLE		9,520	0	0
iShares MSCI USA Quality Facto	COM	46432f339	1,055	15,264	SH		SOLE		15,264	0	0
iShares Nasdaq Biotech Index F	COM	464287556	5,194	19,573	SH		SOLE		19,573	0	0
iShares Russell 1000 Growth	COM	464287614	875	8,342	SH		SOLE		8,342	0	0
iShares Russell 1000 Value	COM	464287598	211	1,882	SH		SOLE		1,882	0	0
iShares Russell 2000 Index Fun	COM	464287655	574	4,256	SH		SOLE		4,256	0	0
iShares Russell Midcap	COM	464287499	304	1,698	SH		SOLE		1,698	0	0
iShares Russell Midcap Growth	COM	464287481	200	2,057	SH		SOLE		2,057	0	0
iShares S&P 100 Index Fund	COM	464287101	1,954	19,680	SH		SOLE		19,680	0	0
iShares S&P 500 Index Fund	COM	464287200	603	2,682	SH		SOLE		2,682	0	0
iShares S&P 500 Value Index Fu	COM	464287408	203	2,000	SH		SOLE		2,000	0	0
iShares S&P Europe 350	COM	464287861	523	13,465	SH		SOLE		13,465	0	0
iShares S&P Global 100	COM	464287572	656	8,546	SH		SOLE		8,546	0	0
iShares S&P Midcap 400	COM	464287507	1,560	9,438	SH		SOLE		9,438	0	0
iShares S&P Midcap 400/Value	COM	464287705	467	3,217	SH		SOLE		3,217	0	0
iShares S&P SmallCap 600	COM	464287804	503	3,655	SH		SOLE		3,655	0	0
iShares S&P US Preferred Stock	COM	464288687	8,978	241,274	SH		SOLE		241,274	0	0
AEGON 8.00 2042 Notes Call 08	PFD	007924608	2,817	108,126	SH		SOLE		108,126	0	0
AGNC Investment Corp 7.75 Per	PFD	00123q302	727	28,968	SH		SOLE		28,968	0	0
AGNC Investment Corp 8.0 Perp	PFD	02503x204	994	39,379	SH		SOLE		39,379	0	0
AON Cap 8.205 1/27 Non-Call B	PFD	22532r101	2,162	67,444	SH		SOLE		67,444	0	0
Affiliated Mgrs Grp 6.375 SrN	PFD	008252876	366	14,483	SH		SOLE		14,483	0	0
AllState 6.75 2049 Call 10/201	PFD	020002606	301	11,690	SH		SOLE		11,690	0	0
Allied Capital ARCC6.875 4/20	PFD	01903q207	252	9,998	SH		SOLE		9,998	0	0
American Homes 4Rent 6.50 Per	PFD	02665t702	363	14,512	SH		SOLE		14,512	0	0
Amtrust Financial 6.95 QDI Ca	PFD	032359820	442	19,150	SH		SOLE		19,150	0	0
Amtrust Financial 7.25 CUM QD	PFD	032359507	294	11,766	SH		SOLE		11,766	0	0
Amtrust Financial 7.25 SrNt C	PFD	032359861	308	12,200	SH		SOLE		12,200	0	0
Amtrust Financial 7.5 QDI Cal	PFD	032359887	2,840	112,621	SH		SOLE		112,621	0	0
Amtrust Financial 7.50Nts 205	PFD	032359853	470	18,266	SH		SOLE		18,266	0	0
Amtrust Financial 7.625CUM QD	PFD	032359705	3,767	149,832	SH		SOLE		149,832	0	0
Amtrust Financial 7.75 QDI Ca	PFD	032359846	1,871	73,302	SH		SOLE		73,302	0	0
Annaly Capital 7.625 CUM Cl 8	PFD	035710888	1,207	50,065	SH		SOLE		50,065	0	0
Annaly Capital 7.625 Perp Cl	PFD	035710706	271	11,254	SH		SOLE		11,254	0	0
Arbor Realty 8.50 CUM Perp Ca	PFD	038923801	273	10,752	SH		SOLE		10,752	0	0
Arch Capital 6.75 BBB QDI Cl	PFD	g0450a204	698	27,751	SH		SOLE		27,751	0	0
Argo Group 6.5 Sr Notes Call	PFD	040130205	1,863	74,613	SH		SOLE		74,613	0	0
Ashford Hospitality 7.375 NR	PFD	044103604	1,612	67,548	SH		SOLE		67,548	0	0
Aspen Insurance 7.25 Call07/2	PFD	g05384147	7,320	287,842	SH		SOLE		287,842	0	0
Aspen Insurance 7.401 BBB- Ca	PFD	g05384139	288	11,523	SH		SOLE		11,523	0	0
Axis Capital 6.875 Cl 4/17 QD	PFD	g0692u307	567	22,472	SH		SOLE		22,472	0	0
B Riley Financial 7.50 SenNts	PFD	05580m207	427	16,670	SH		SOLE		16,670	0	0
BGC Partners 8.125 2042 Call	PFD	05541t408	4,449	173,104	SH		SOLE		173,104	0	0
BancOfCalifornia 7.00 Cal2021	PFD	05990k874	1,280	51,475	SH		SOLE		51,475	0	0
BancOfCalifornia 7.375 Ca2020	PFD	05990k882	5,710	224,982	SH		SOLE		224,982	0	0
BancOfCalifornia 8.00 Cal2018	PFD	05990k403	2,797	108,320	SH		SOLE		108,320	0	0
Bank of America $1000pv 7.25	PFD	060505682	3,122	2,676	SH		SOLE		2,676	0	0
Bank of America 6.5 Prp Cl 1/	PFD	060505310	523	20,479	SH		SOLE		20,479	0	0
Bank of America 6.625 Prp/Cl	PFD	060505344	2,950	114,744	SH		SOLE		114,744	0	0
Bank of America 6.625Prp Cl 1	PFD	060505740	648	25,583	SH		SOLE		25,583	0	0
Barclays 8.125 Perp/Cl 3/14 B	PFD	06739h362	401	15,700	SH		SOLE		15,700	0	0
Barclays Bank 7.1 Prp Call 12	PFD	06739h776	436	17,191	SH		SOLE		17,191	0	0
BlueRock Residential Growth 7.	PFD	09627j748	1,135	44,735	SH		SOLE		44,735	0	0
BlueRock Residential Growth 8.	PFD	09627j508	2,020	77,535	SH		SOLE		77,535	0	0
Boston Private Finl 6.95Perp	PFD	101119303	344	13,727	SH		SOLE		13,727	0	0
CBL & Associates 6.625 Perp C	PFD	124830803	340	14,804	SH		SOLE		14,804	0	0
CBL&Assoc Properties 7.375CUM	PFD	124830605	278	11,376	SH		SOLE		11,376	0	0
CHS Chemical 7.50 Cl 1/2025 C	PFD	12542r803	7,023	258,767	SH		SOLE		258,767	0	0
CHS Chemicals 6.75 Perp cl 20	PFD	12542r704	340	12,930	SH		SOLE		12,930	0	0
CHS Chemicals 7.875 Perp cl 2	PFD	12542r308	274	9,697	SH		SOLE		9,697	0	0
Capital One Finl 6.7Prp Call	PFD	14040h709	1,488	57,315	SH		SOLE		57,315	0	0
CenturyLink Quest 7.0SnNts Cl	PFD	74913g501	2,889	117,728	SH		SOLE		117,728	0	0
Chesapeake Lodging 7.75 PerpC	PFD	165240201	4,799	189,019	SH		SOLE		189,019	0	0
Citigroup 5.8 B1 Call 4/18 QD	PFD	172967366	220	8,850	SH		SOLE		8,850	0	0
Citigroup 7.125 Flt Aftr 9/23	PFD	172967358	8,154	291,426	SH		SOLE		291,426	0	0
Citigroup Tst 7.875 Cl2015 Li	PFD	173080201	918	35,545	SH		SOLE		35,545	0	0
City Office REIT 6.625 CUM Ca	PFD	178587200	545	23,900	SH		SOLE		23,900	0	0
Colony Financial7.125Perp CUM	PFD	19624r403	1,160	49,791	SH		SOLE		49,791	0	0
Colony Financial7.50 Perp CUM	PFD	19624r304	603	24,446	SH		SOLE		24,446	0	0
Colony Financial8.50 Perp CUM	PFD	19624r205	1,021	40,418	SH		SOLE		40,418	0	0
CoreEnergy 7.375 Pfd - Par Ca	PFD	21870u304	749	30,436	SH		SOLE		30,436	0	0
Corporate Office Prop 7.375 C	PFD	22002t884	1,666	65,959	SH		SOLE		65,959	0	0
Costamare 7.625 CUM QDI Perp	PFD	y1771g110	384	18,923	SH		SOLE		18,923	0	0
Costamare 8.50 CUM QDI Perp C	PFD	y1771g128	2,110	97,349	SH		SOLE		97,349	0	0
Cowen 8.25 Senior Notes Due 1	PFD	223622309	1,378	53,606	SH		SOLE		53,606	0	0
Deutsche Bank 8.05 PrpCl6/18	PFD	25150l108	268	10,602	SH		SOLE		10,602	0	0
Deutsche Bnk 7.6 Prp Cl 2/18	PFD	25154a108	409	16,400	SH		SOLE		16,400	0	0
Digital Realty 6.625 Perp CUM	PFD	253868806	444	17,694	SH		SOLE		17,694	0	0
Digital Realty 7.375 Perp CUM	PFD	253868871	2,153	79,288	SH		SOLE		79,288	0	0
Discover Financial 6.50Perp Q	PFD	254709207	2,008	78,190	SH		SOLE		78,190	0	0
Dynagas LNG 9.0 QDI CUM cl 2	PFD	Y2188b116	1,266	50,081	SH		SOLE		50,081	0	0
EBAY 6.00 Sr Notes Call 3/1/2	PFD	278642202	651	25,100	SH		SOLE		25,100	0	0
EaglePoint Credit 7SrNts 12/3	PFD	269809208	727	28,300	SH		SOLE		28,300	0	0
EaglePoint Credit 7.75 Due 10	PFD	269809307	940	36,933	SH		SOLE		36,933	0	0
EaglePoint Credit 7.752022 CU	PFD	269809109	1,948	75,678	SH		SOLE		75,678	0	0
Endurance Specialty 6.35 Cl 1	PFD	29267h406	284	11,100	SH		SOLE		11,100	0	0
EverBank Financial 6.75 Perp	PFD	29977g201	581	23,052	SH		SOLE		23,052	0	0
First Republic 7.0 Cl 12/18 B	PFD	33616c860	5,007	184,010	SH		SOLE		184,010	0	0
First Republic Bank 6.2 Cl 6/	PFD	33616c407	523	20,460	SH		SOLE		20,460	0	0
First Republic Bank 6.70 Cal	PFD	33616c209	2,206	87,879	SH		SOLE		87,879	0	0
GGP Inc 6.375 Call 2/2018 CUM	PFD	370023202	367	14,800	SH		SOLE		14,800	0	0
GaslLog Ltd 8.75 Ser A CUM QD	PFD	g37585117	1,342	53,411	SH		SOLE		53,411	0	0
Gladstone Commercial 7.00 CUM	PFD	376536603	2,576	102,035	SH		SOLE		102,035	0	0
Gladstone Investment 6.25 CUM	PFD	376546503	740	29,250	SH		SOLE		29,250	0	0
Global Indemnity SrNts7.75 Ca	PFD	g3933f121	1,827	73,060	SH		SOLE		73,060	0	0
Goldman 5.5 Flt Aftr 5/23 Cl	PFD	38145g308	1,841	72,604	SH		SOLE		72,604	0	0
GoldmanSachs Lib75 Min3.75 C	PFD	38143y665	634	28,689	SH		SOLE		28,689	0	0
HSBC Hldgs 8.0 Prp Cl 12/15 B	PFD	404280802	2,635	102,130	SH		SOLE		102,130	0	0
Hanover Insurance6.35 Cl3/18	PFD	410867204	1,289	51,565	SH		SOLE		51,565	0	0
Hartford Finl 7.875 2042 call	PFD	416518504	1,263	42,619	SH		SOLE		42,619	0	0
Hercules Capital 6.25SrNts 24	PFD	427096862	226	8,900	SH		SOLE		8,900	0	0
Hercules Capital 7 BBB- Calle	PFD	427096870	256	9,996	SH		SOLE		9,996	0	0
Hersha Hospitality 6.50 NR Ca	PFD	427825609	385	17,219	SH		SOLE		17,219	0	0
ING Grp NV 7.20Pfd Perp/Cl l2	PFD	456837301	271	10,597	SH		SOLE		10,597	0	0
IberiaBank Corp 6.60 Call 5/1	PFD	450828504	901	33,927	SH		SOLE		33,927	0	0
Investors REIT 7.95 Perp CUM	PFD	461730301	1,311	51,659	SH		SOLE		51,659	0	0
JMP Group 8.00 SrDeb Due1/202	PFD	46629u206	411	16,264	SH		SOLE		16,264	0	0
JPMorgan Chase 6.70Perp/Call	PFD	48127a161	1,709	63,611	SH		SOLE		63,611	0	0
KKR Financial 7.50 SrNts Call	PFD	48248a504	4,124	162,599	SH		SOLE		162,599	0	0
LaSalle Hotel 6.3 Call 5/2021	PFD	517942884	265	11,400	SH		SOLE		11,400	0	0
LaSalle Hotel 6.375 Call 3/20	PFD	517942801	218	9,037	SH		SOLE		9,037	0	0
LaSalle Hotel 7.50 Perp CUM C	PFD	517942702	1,690	67,451	SH		SOLE		67,451	0	0
M / I Homes 9.75 Pfd Call 11/	PFD	55305b200	408	15,952	SH		SOLE		15,952	0	0
M&T Bank 6.375 Cl 11/18 BBB-	PFD	55261f708	489	484	SH		SOLE		484	0	0
MFA Financial 7.5 Prp Cl 4/15	PFD	55272x409	216	8,918	SH		SOLE		8,918	0	0
Maiden Hldgs 8.00rSNts 2042 c	PFD	56029q309	2,050	80,726	SH		SOLE		80,726	0	0
Maiden Holdings 7.125PrpCl 12	PFD	g5753u138	759	29,390	SH		SOLE		29,390	0	0
Maiden Holdings 8.25Prp Cl8/2	PFD	g5753u120	1,934	74,837	SH		SOLE		74,837	0	0
Medley Capitl 6.875Notes Due2	PFD	58503y105	267	11,100	SH		SOLE		11,100	0	0
MetLife 3MoLibor100 Min 4.0	PFD	59156r504	225	9,666	SH		SOLE		9,666	0	0
Morgan Stanley 3MoLib70bp 4F	PFD	61747s504	549	23,884	SH		SOLE		23,884	0	0
Morgan Stanley 7.125Flt Aftr1	PFD	61762v200	5,206	185,078	SH		SOLE		185,078	0	0
National General 7.5 QDI NA C	PFD	636220857	3,997	159,952	SH		SOLE		159,952	0	0
National General Ins7.50Call4	PFD	636220808	3,015	121,508	SH		SOLE		121,508	0	0
National General Ins7.50Call7	PFD	636220709	2,572	102,532	SH		SOLE		102,532	0	0
National General Ins7.625 Cal	PFD	636220873	1,857	74,159	SH		SOLE		74,159	0	0
New York MtgTrust 7.875Perp C	PFD	649604808	277	12,101	SH		SOLE		12,101	0	0
NewTek Business Svs 7.0Nts du	PFD	652526401	237	9,340	SH		SOLE		9,340	0	0
NewTek Business Svs 7.50 Nts	PFD	652526302	520	20,111	SH		SOLE		20,111	0	0
News Corp 7.00 12/1/2095 call	PFD	863117206	259	10,303	SH		SOLE		10,303	0	0
NorthStar Realty Fin 8.25 CUM	PFD	66704R308	350	14,002	SH		SOLE		14,002	0	0
NorthStar Realty Fin 8.50 CUM	PFD	66705v209	712	27,944	SH		SOLE		27,944	0	0
NorthStar Realty Fin 8.75 CUM	PFD	66704r605	335	13,029	SH		SOLE		13,029	0	0
Northstar Realty Fin 8.75 CUM	PFD	66704r209	267	10,527	SH		SOLE		10,527	0	0
Northstar Realty Fin 8.875 CU	PFD	66704r506	380	14,867	SH		SOLE		14,867	0	0
NuStar Logistics 7.625Nts Cl	PFD	67059t204	1,304	50,525	SH		SOLE		50,525	0	0
Oxford Lane Cap8.125 Cl6/2017	PFD	691543409	220	8,513	SH		SOLE		8,513	0	0
PS Business Parks 6.0 Cl 5/20	PFD	69360j685	271	11,150	SH		SOLE		11,150	0	0
Partner Re 6.50Perp Cal 4/202	PFD	g68603136	678	26,150	SH		SOLE		26,150	0	0
Partner Re 7.25 Call 06/21 BB	PFD	g68603144	6,612	242,293	SH		SOLE		242,293	0	0
Penn Real Estate 8.25 CIM Per	PFD	709102404	243	9,621	SH		SOLE		9,621	0	0
Penn RealEstate 7.375CUM Perp	PFD	709102503	592	23,669	SH		SOLE		23,669	0	0
Pitney Bowes 6.7 Cl 3/7/18 BB	PFD	724479506	320	12,500	SH		SOLE		12,500	0	0
Prospect Captl 6.25 6/24 SrNt	PFD	74348t300	1,332	53,050	SH		SOLE		53,050	0	0
Prudential PLC 6.75 PrpCl 9/0	PFD	g7293h114	552	21,677	SH		SOLE		21,677	0	0
Quest USWest 7.0 SrNts 2056 2	PFD	74913g808	2,023	80,450	SH		SOLE		80,450	0	0
Quest USWest SnNotes 7.0 2052	PFD	74913G402	1,299	52,600	SH		SOLE		52,600	0	0
Quest USWest Sr Nts6.125Nts C	PFD	74913g600	211	9,300	SH		SOLE		9,300	0	0
Quest USWestSnNote7.5 2051 Cl	PFD	74913g303	2,250	89,824	SH		SOLE		89,824	0	0
Quest USWestSnNotes 6.875 CL	PFD	74913g105	3,084	127,450	SH		SOLE		127,450	0	0
Qwest Corp 6.5 Sr Note 9/56 C	PFD	74913g881	2,231	97,640	SH		SOLE		97,640	0	0
Raymond James Final 6.90 Call	PFD	754730208	762	30,014	SH		SOLE		30,014	0	0
Realty Income 6.625 Call 2/17	PFD	756109807	287	11,429	SH		SOLE		11,429	0	0
Regency Centers 6.00 Perp CUM	PFD	758849806	422	17,400	SH		SOLE		17,400	0	0
Regions Financial 6.375 Cl 12	PFD	7591ep308	424	16,850	SH		SOLE		16,850	0	0
Reinsurance Group of Amer 6.2	PFD	759351703	324	12,000	SH		SOLE		12,000	0	0
Retail Properties of Amer 7.0	PFD	76131v608	410	16,400	SH		SOLE		16,400	0	0
SL Green Realty 6.5 Perp CUM	PFD	78440x507	1,792	71,847	SH		SOLE		71,847	0	0
Seaspan 7.875 Perp Cum QDI Ca	PFD	81254u304	495	25,418	SH		SOLE		25,418	0	0
Seaspan 7.95 12/2049 Call 1/2	PFD	y75638208	265	13,027	SH		SOLE		13,027	0	0
Seaspan 8.20 Perp CUM QDI Cal	PFD	y75638307	1,124	56,375	SH		SOLE		56,375	0	0
Seaspan 8.25 Perp CUM QDI Cal	PFD	y75638133	1,560	76,134	SH		SOLE		76,134	0	0
SoCalEd 5.375 CUM cl 2025 QDI	PFD	78409g206	718	29,111	SH		SOLE		29,111	0	0
Solar Capital 6.75 Cl 11/17	PFD	83413u308	460	18,273	SH		SOLE		18,273	0	0
Sotherly Hotels 8 Cum Perp C	PFD	83600c301	2,240	87,951	SH		SOLE		87,951	0	0
Summit Hotel 7.875 Perp CUM C	PFD	866082308	2,865	111,301	SH		SOLE		111,301	0	0
Summit Hotel7.125Perp CUM Cal	PFD	866082407	915	36,445	SH		SOLE		36,445	0	0
Sunstone Hotel 6.95 Prp/Cl 3/	PFD	867892606	367	14,479	SH		SOLE		14,479	0	0
Taubman Centers 6.5 CUM NA Cl	PFD	876664608	261	10,600	SH		SOLE		10,600	0	0
Telephone & Data 6.875 Cl 11/	PFD	879433845	2,156	87,075	SH		SOLE		87,075	0	0
Telephone & Data 7.0 Cl 3/16	PFD	879433837	796	31,742	SH		SOLE		31,742	0	0
Texas Capitl Bancshares6.50 2	PFD	882228307	470	18,551	SH		SOLE		18,551	0	0
Torchmark Crp 6.125 SubDebCal	PFD	891027401	933	36,950	SH		SOLE		36,950	0	0
TravelCenters America 8.00SrN	PFD	894174309	3,150	124,475	SH		SOLE		124,475	0	0
TravelCenters SnNotes 8 10/20	PFD	894174408	1,432	57,125	SH		SOLE		57,125	0	0
Triancgle Capitl 6.375Sr Note	PFD	895848406	858	33,750	SH		SOLE		33,750	0	0
TriplePoint Venture BDC 6.75	PFD	89677y209	523	20,500	SH		SOLE		20,500	0	0
UMH Propertyies 8.0 Perp Cum	PFD	903002301	570	21,275	SH		SOLE		21,275	0	0
US Bancorp 6.5 Flt Aftr 1/22	PFD	902973833	1,249	44,139	SH		SOLE		44,139	0	0
US Celllular SrNts 7.25 2063	PFD	911684504	506	19,900	SH		SOLE		19,900	0	0
US Cellular 6.95SrNT 2060 Cl	PFD	911684405	458	18,335	SH		SOLE		18,335	0	0
US Cellular 7.25 SrNts12/2064	PFD	911684603	1,855	72,452	SH		SOLE		72,452	0	0
VEREIT Inc 6.70 Perp CUM Cl 2	PFD	92339v209	849	33,560	SH		SOLE		33,560	0	0
Wells Fargo 5.85Flt Aftr 9/23	PFD	949746556	307	12,150	SH		SOLE		12,150	0	0
Wells Fargo 6.375 Cl 12/19 BB	PFD	94988n207	735	29,200	SH		SOLE		29,200	0	0
Wells Fargo 7.5 Cnv@$156 $100	PFD	949746804	16,239	13,646	SH		SOLE		13,646	0	0
Wells Fargo 8.00 Prp Cl12/17	PFD	949746879	9,048	342,342	SH		SOLE		342,342	0	0
Wheeler RealEstate 8.75CUM Pu	PFD	963025606	398	16,950	SH		SOLE		16,950	0	0
Bank of America 5.20 Perp/Cal	PFD	060505ED2	300	315,000	PRN		SOLE		315,000	0	0
Charles Schwab 7 Perp/Call 2/	PFD	808513AE5	1,844	1,632,000	PRN		SOLE		1,632,000	0	0
Citigroup 5.35 Perp/Call 5/23	PFD	172967GR6	698	740,000	PRN		SOLE		740,000	0	0
Citigroup 5.875 Perp/Call 3/2	PFD	172967JK8	354	350,000	PRN		SOLE		350,000	0	0
Citigroup Inc 5.95 Perp Call	PFD	172967GD7	826	820,000	PRN		SOLE		820,000	0	0
Citigroup Inc 6.125 Perp Call	PFD	172967KD2	569	550,000	PRN		SOLE		550,000	0	0
Citigroup Inc Fix-to-Float Per	PFD	172967GF2	202	200,000	PRN		SOLE		200,000	0	0
GE Cap Corp 5.00 Perp/Call 1/	PFD	369604BQ5	2,410	2,317,000	PRN		SOLE		2,317,000	0	0
JPMorgan 6.0 Perp/Call 8/23 -	PFD	48126HAA8	2,359	2,350,000	PRN		SOLE		2,350,000	0	0
JPMorgan 7.9 Perp/Call 4/18 -	PFD	46625HHA1	2,687	2,590,000	PRN		SOLE		2,590,000	0	0
So. Cal Edison 6.25 Perp/Call	PFD	842400FU2	749	675,000	PRN		SOLE		675,000	0	0
Wachovia (WFC) Perp/Call 2/11	PFD	92978AAA0	5,364	5,495,000	PRN		SOLE		5,495,000	0	0
Wells Fargo & Company Perp/Cal	PFD	949746PM7	481	460,000	PRN		SOLE		460,000	0	0