Hilton Capital Management 13F-HR Quarterly holdings report by institutional manager

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
APPLE COMPUTER INC	COM	037833100	445	830	SH		SOLE	0	0	0	830
AMERICAN MIDSTREAM PARTNERS LLP	COM	02752P100	6,972	273,830	SH		SOLE	0	29,680	0	244,150
JPMORGAN CHASE & CO ALERIAN ML ETN	CONV BONDS	46625H365	8,729	187,554	PRN		SOLE	0	94,635	0	92,919
AMERIPRISE FINL INC	COM	03076C106	264	2,400	SH		SOLE	0	0	0	2,400
ALPINE TOTAL DYNAMIC DIVIDEND FUND	CONV BONDS	021060207	11,656	1,389,278	PRN		SOLE	0	235,017	0	1,154,262
AMERICAN EXPRESS CO	COM	025816109	1,152	12,800	SH		SOLE	0	0	0	12,800
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	COM	106776107	240	12,000	SH		SOLE	0	0	0	12,000
BLACKBERRY LTD	COM	09228F103	242	30,000	SH		SOLE	0	0	0	30,000
B & G FOODS INC NEW CL A	COM	05508R106	5,416	179,870	SH		SOLE	0	36,230	0	143,640
POWERSHARES SENIOR LOAN	CONV BONDS	73936Q769	27,798	1,120,420	PRN		SOLE	0	258,835	0	861,585
BRYN MAWR BANK CORP	COM	117665109	4,337	150,940	SH		SOLE	0	22,765	0	128,175
CATERPILLAR INC	COM	149123101	309	3,114	SH		SOLE	0	0	0	3,114
COMMUNITY BANK SYSTEM INC.	COM	203607106	4,424	113,365	SH		SOLE	0	18,190	0	95,175
CELGENE CORP	COM	151020104	420	3,010	SH		SOLE	0	0	0	3,010
CRESTWOOD EQUITY PARTNERS LP	COM	226344109	629	45,466	SH		SOLE	0	0	0	45,466
CHERRY HILL MORTGAGE INVESTMENT	COM	164651101	1,600	85,325	SH		SOLE	0	12,435	0	72,890
CRESTWOOD MIDSTREAM PARTNERS LP	COM	226378107	425	18,857	SH		SOLE	0	0	0	18,857
COSTCO WHOLESALE CORP	COM	22160K105	313	2,800	SH		SOLE	0	0	0	2,800
DOLLAR TREE INC	COM	256746108	1,498	28,700	SH		SOLE	0	0	0	28,700
DCP MIDSTREAM PARTNERS LP UT LTD PTN	COM	23311P100	451	9,000	SH		SOLE	0	0	0	9,000
ISHARES DJ SELECT DIVIDEND INDEX FUND	CONV BONDS	464287168	202	2,750	PRN		SOLE	0	0	0	2,750
E M C CORP MASS	COM	268648102	241	8,800	SH		SOLE	0	0	0	8,800
GLOBAL EAGLE ENTERTAINMENT INC	COM	37951D102	158	10,000	SH		SOLE	0	0	0	10,000
EL PASO PIPELINE PARTNERS	COM	283702108	555	18,275	SH		SOLE	0	0	0	18,275
ENTERPRISE PRODS PARTNERS L COM UNIT	COM	293792107	21,577	311,094	SH		SOLE	0	29,565	0	281,529
ECOSPHERE TECH INC	COM	27922X105	36	173,012	SH		SOLE	0	0	0	173,012
ENERGY TRANSFER EQUITY L P UT LTD PTN	COM	29273V100	561	12,000	SH		SOLE	0	0	0	12,000
EV ENERGY PARTNERS LP	COM	26926V107	335	10,000	SH		SOLE	0	0	0	10,000
FACEBOOK INC	COM	30303M102	271	4,500	SH		SOLE	0	0	0	4,500
FERRELLGAS PARTNERS L P UNIT LTD PRTNRS	COM	315293100	490	21,229	SH		SOLE	0	2,000	0	19,229
FEDERATED INVESTORS INC-CL B	COM	314211103	5,009	164,023	SH		SOLE	0	33,365	0	130,658
FIVE BELOW	COM	33829M101	212	5,000	SH		SOLE	0	0	0	5,000
GENESIS ENERGY LP	COM	371927104	271	5,000	SH		SOLE	0	0	0	5,000
HOWARD BANCORP	COM	442496105	479	42,400	SH		SOLE	0	0	0	42,400
HERITAGE FINANCIAL CORP	COM	42722X106	5,388	318,415	SH		SOLE	0	51,025	0	267,390
HOME LOAN SERVICING SOLUTION LTD	COM	G6648D109	4,751	219,940	SH		SOLE	0	39,030	0	180,910
I B M	COM	459200101	425	2,209	SH		SOLE	0	0	0	2,209
JOHNSON & JOHNSON	COM	478160104	928	9,452	SH		SOLE	0	0	0	9,452
KINDER MORGAN EGY PTNS L P UT LTD PT INT	COM	494550106	762	10,308	SH		SOLE	0	0	0	10,308
KINDER MORGAN MANAGEMENT LLCSHS	COM	49455U100	764	10,662	SH		SOLE	0	0	0	10,662
Konared Corp	COM	50048Y104	25	35,000	SH		SOLE	0	0	0	35,000
KRAFT FOOD GROUP	COM	50076Q106	3,077	54,855	SH		SOLE	0	14,535	0	40,320
ISHARES BARCLAYS MBS BOND	CONV BONDS	464288588	527	4,965	PRN		SOLE	0	425	0	4,540
MEDLEY CAP CORP	COM	58503F106	7,382	542,387	SH		SOLE	0	104,565	0	437,822
MONDELEZ INTERNATIONAL INC	COM	609207105	2,060	59,634	SH		SOLE	0	0	0	59,634
MAGELLAN MIDSTREAM PARTNERS LP	COM	559080106	11,797	169,156	SH		SOLE	0	18,435	0	150,721
MOBIQUITY TECHNOLOGIES INC.	COM	60743F102	10	21,000	SH		SOLE	0	0	0	21,000
MERCK & COMPANY	COM	58933Y105	263	4,634	SH		SOLE	0	2,100	0	2,534
MUENCHENER RUECKVERSICHE ADR	COM	626188106	3,282	150,125	SH		SOLE	0	27,325	0	122,800
MARKWEST ENERGY PARTNERS L PUNIT LTD PARTN	COM	570759100	294	4,500	SH		SOLE	0	0	0	4,500
NEWCASTLE INVESTMENT	COM	65105M108	4,186	890,680	SH		SOLE	0	195,015	0	695,665
NEW MEDIA INVESTMENT GROUP	COM	64704V106	3,900	259,656	SH		SOLE	0	45,261	0	214,395
TARGA RESOURCES PARTNERS LP COM UNIT	COM	87611X105	9,795	174,111	SH		SOLE	0	9,050	0	165,061
NEW RESIDENTIAL INVESTMENT CORP.	COM	64828T102	789	122,018	SH		SOLE	0	80,118	0	41,900
Nuveen Dividend Advantage Municipal Income Fund	CONV BONDS	67071L106	267	20,000	PRN		SOLE	0	0	0	20,000
OAKTREE CAPITAL GROUP LLC	COM	674001201	3,288	56,535	SH		SOLE	0	10,605	0	45,930
ONEOK PARTNERS L P	COM	68268N103	782	14,600	SH		SOLE	0	0	0	14,600
ORACLE SYS CORP	COM	68389X105	200	4,900	SH		SOLE	0	0	0	4,900
PLAINS ALL AMERN PIPELINE L UNIT L P INT	COM	726503105	8,750	158,743	SH		SOLE	0	8,935	0	149,808
PLAINS GP HOLDINGS LP-CL A	COM	72651A108	5,501	196,595	SH		SOLE	0	57,105	0	139,490
Pure Cycle Corp	COM	746228303	235	38,900	SH		SOLE	0	0	0	38,900
PFIZER INC	COM	717081103	2,790	86,865	SH		SOLE	0	28,025	0	58,840
PROCTER & GAMBLE COMPANY	COM	742718109	412	5,112	SH		SOLE	0	0	0	5,112
PHILIP MORRIS INTL INC	COM	718172109	440	5,380	SH		SOLE	0	2,940	0	2,440
PLAYMATES HOLDINGS	COM	034832960	582	410,000	SH		SOLE	0	0	0	410,000
RITE AID CORP	COM	767754104	94	15,000	SH		SOLE	0	0	0	15,000
RAIT FINANCIAL TRUST	COM	749227609	7,688	905,573	SH		SOLE	0	151,435	0	754,138
ALTISOURCE RESIDENTIAL CORP	COM	02153W100	2,463	78,045	SH		SOLE	0	10,545	0	67,500
REGENCY ENERGY PARTNERS LP	COM	75885Y107	474	17,412	SH		SOLE	0	0	0	17,412
PROSHARES TR PSHS SHRT S&P5	CONV BONDS	74347R503	1,811	73,420	PRN		SOLE	0	14,000	0	59,420
SINGING MACH INC	COM	829322304	61	358,500	SH		SOLE	0	0	0	358,500
SENIOR HSG PPTYS TR SH BEN INT	COM	81721M109	461	20,500	SH		SOLE	0	0	0	20,500
STERLING BANCORP	COM	85917A100	8,789	694,220	SH		SOLE	0	109,425	0	584,795
A T & T INC (NEW)	COM	00206R102	240	6,843	SH		SOLE	0	0	0	6,843
TALLGRASS ENERGY PARTNERS LP	COM	874697105	6,285	172,620	SH		SOLE	0	25,800	0	146,820
THORNBURG MTG INC NEW	COM	885218800	0	100,000	SH		SOLE	0	0	0	100,000
TEEKAY OFFSHORE PARTNERS LP PARTNERSHIP UN	COM	Y8565J101	1,059	32,352	SH		SOLE	0	2,000	0	30,352
TOOTSIE ROLL INDUSTRIES, INC.	COM	890516107	2,827	94,417	SH		SOLE	0	18,450	0	75,967
TWO HBRS INVT CORP	COM	90187B101	6,448	629,085	SH		SOLE	0	118,205	0	510,880
TIME WARNER INC COM	COM	887317303	242	3,699	SH		SOLE	0	33	0	3,666
VERIZON COMMUNICATIONS	COM	92343V104	504	10,588	SH		SOLE	0	500	0	10,088
WESTERN GAS PARTNERS LP UNIT LP IN	COM	958254104	6,341	95,793	SH		SOLE	0	500	0	95,293
WESTWOOD HOLDINGS GROUP, INC.	COM	961765104	3,611	57,593	SH		SOLE	0	10,450	0	47,143
WILLIAMS COS INC	COM	969457100	8,387	206,680	SH		SOLE	0	42,195	0	164,485
WAL MART STORES INC	COM	931142103	4,398	57,543	SH		SOLE	0	200	0	57,343
WILLIAMS PARTNERS LP	COM	96950F104	1,572	30,869	SH		SOLE	0	0	0	30,869
XCEL ENERGY INC	COM	98389B100	386	12,714	SH		SOLE	0	0	0	12,714
EXXON MOBIL CORP	COM	30231G102	662	6,775	SH		SOLE	0	0	0	6,775
CROSSTEX ENERGY L P	COM	22765U102	228	7,500	SH		SOLE	0	0	0	7,500