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

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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
MACQUARIE INFRASTRUCTURE	Convertible Bonds	55608BAA3	118	100,000	PRN		SOLE	0	0	0	100,000
NEXTERA ENEGY INC	Convertible Preferred Stocks	65339F887	1,131	18,250	PRN		SOLE	0	0	0	18,250
APPLE COMPUTER INC	Common Stocks	037833100	1,820	14,514	SH		SOLE	0	7,045	0	7,469
AMERICAN MIDSTREAM PARTNERS LLP	Common Stocks	02752P100	285	17,750	SH		SOLE	0	0	0	17,750
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETN	46625H365	2,420	61,107	PRN		SOLE	0	18,882	0	42,225
AMERIPRISE FINL INC	Common Stocks	03076C106	300	2,400	SH		SOLE	0	0	0	2,400
AMERICAN RIVER BANKSHRS	Common Stocks	029326105	264	28,342	SH		SOLE	0	28,342	0	0
AMAZON COM INC	Common Stocks	023135106	3,103	7,148	SH		SOLE	0	0	0	7,148
ALPINE TOTAL DYNAMIC DIVIDEND FUND	Equity Closed-End Fund	021060207	16,117	1,865,376	PRN		SOLE	0	705,924	0	1,159,453
AMERICAN EXPRESS CO	Common Stocks	025816109	972	12,500	SH		SOLE	0	0	0	12,500
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	Common Stocks	106776107	121	25,500	SH		SOLE	0	0	0	25,500
B & G FOODS INC NEW CL A	Common Stocks	05508R106	231	8,100	SH		SOLE	0	310	0	7,790
POWERSHARES SENIOR LOAN	Fixed Income ETF	73936Q769	833	35,000	PRN		SOLE	0	0	0	35,000
BRYN MAWR BANK CORP	Common Stocks	117665109	5,634	186,810	SH		SOLE	0	74,120	0	112,690
BLUEROCK RESIDENTIAL GROWTH	Common Stocks	09627J102	4,377	345,709	SH		SOLE	0	137,774	0	207,935
CBS CORP NEW CL B	Common Stocks	124857202	734	13,221	SH		SOLE	0	12,000	0	1,221
CELGENE CORP	Common Stocks	151020104	799	6,905	SH		SOLE	0	0	0	6,905
COBIZ FINANCIAL INC	Common Stocks	190897108	161	12,295	SH		SOLE	0	12,295	0	0
COSI INC COM NEW	Common Stocks	22122P200	259	128,664	SH		SOLE	0	128,664	0	0
COSTCO WHOLESALE CORP	Common Stocks	22160K105	270	2,000	SH		SOLE	0	0	0	2,000
CVS CORP	Common Stocks	126650100	7,543	71,922	SH		SOLE	0	35,657	0	36,265
DISNEY WALT PRODTNS	Common Stocks	254687106	1,136	9,955	SH		SOLE	0	0	0	9,955
DOLLAR TREE INC	Common Stocks	256746108	790	10,000	SH		SOLE	0	0	0	10,000
PROSHARES SHORT DOW 30	Equity ETFs	74347R701	207	9,000	PRN		SOLE	0	0	0	9,000
WISDOMTREE GERMANY HEDGED EQUITY	Equity ETFs	97717W448	8,299	291,712	PRN		SOLE	0	89,476	0	202,236
ENLINK MIDSTREAM PARTNERS LP	Common Stocks	29336U107	209	9,500	SH		SOLE	0	0	0	9,500
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	20,879	698,521	SH		SOLE	0	187,917	0	510,604
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	898	14,000	SH		SOLE	0	0	0	14,000
ENERGY TRANSFER PARTNERS L.P.	Common Stocks	29273R109	385	7,384	SH		SOLE	0	0	0	7,384
EV ENERGY PARTNERS LP	Common Stocks	26926V107	154	13,500	SH		SOLE	0	0	0	13,500
FACEBOOK INC	Common Stocks	30303M102	386	4,500	SH		SOLE	0	0	0	4,500
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	204	6,415	SH		SOLE	0	6,415	0	0
1ST CENTY BANCSHARES INC COM	Common Stocks	31943X102	174	24,920	SH		SOLE	0	24,920	0	0
FEDERATED INVESTORS INC-CL B	Common Stocks	314211103	8,679	259,138	SH		SOLE	0	106,741	0	152,397
WINTHROP REALTY TRUST	Common Stocks	976391300	17,662	1,165,824	SH		SOLE	0	433,365	0	732,459
GENESIS ENERGY LP	Common Stocks	371927104	265	6,030	SH		SOLE	0	0	0	6,030
GREEN BANCORP INC	Common Stocks	39260X100	172	11,190	SH		SOLE	0	11,190	0	0
GOOGLE INC CL C	Common Stocks	38259P706	2,139	4,110	SH		SOLE	0	0	0	4,110
GOOGLE INC	Common Stocks	38259P508	1,330	2,463	SH		SOLE	0	1,800	0	663
GRAMERCY PROPERTY TRUST INC	Common Stocks	38489R605	10,633	455,005	SH		SOLE	0	167,002	0	288,003
HOWARD BANCORP	Common Stocks	442496105	1,963	140,300	SH		SOLE	0	0	0	140,300
ISHARES HEDGED MSCI GERMANY	Equity ETFs	46434V704	706	27,051	PRN		SOLE	0	19,180	0	7,871
HERITAGE FINANCIAL CORP	Common Stocks	42722X106	6,262	350,416	SH		SOLE	0	138,334	0	212,082
STARWOOD HOTELS & RESORTS INC.	Common Stocks	85590A401	338	4,173	SH		SOLE	0	4,000	0	173
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12	Preferred Stock	404280604	2,330	92,344	PRN		SOLE	0	37,949	0	54,395
HERITAGE COMMERCE CORP	Common Stocks	426927109	143	14,855	SH		SOLE	0	14,855	0	0
I B M	Common Stocks	459200101	209	1,285	SH		SOLE	0	0	0	1,285
INTELLICHECK MOBILISA INC COM SHS	Common Stocks	45817G201	28	20,000	SH		SOLE	0	20,000	0	0
INDEPENDENCE REALTY TRUST	Common Stocks	45378A106	888	117,950	SH		SOLE	0	62,590	0	55,360
Ishares Russell 1000 Growth ETF	Equity ETFs	464287614	204	2,060	PRN		SOLE	0	2,060	0	0
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	9,017	397,390	PRN		SOLE	0	146,113	0	251,277
JOHNSON & JOHNSON	Common Stocks	478160104	905	9,283	SH		SOLE	0	0	0	9,283
KINDER MORGAN INC	Common Stocks	49456B101	1,159	30,197	SH		SOLE	0	0	0	30,197
KROGER CO	Common Stocks	501044101	422	5,824	SH		SOLE	0	4,000	0	1,824
LIONS GATE ENTMT CP NEWF	Common Stocks	535919203	592	15,966	SH		SOLE	0	15,700	0	266
LIMONEIRA CO	Common Stocks	532746104	494	21,530	SH		SOLE	0	21,530	0	0
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	15,472	133,700	PRN		SOLE	0	60,786	0	72,914
LEGACYTEXAS FINANCIAL GROUP	Common Stocks	52471Y106	204	6,770	SH		SOLE	0	6,770	0	0
MEDLEY CAP CORP	Common Stocks	58503F106	7,922	889,102	SH		SOLE	0	345,878	0	543,224
MCDONALDS CORP	Common Stocks	580135101	10,844	114,066	SH		SOLE	0	48,877	0	65,189
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	715	17,374	SH		SOLE	0	0	0	17,374
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	16,699	227,574	SH		SOLE	0	70,321	0	157,253
MONSANTO CO NEW	Common Stocks	61166W101	777	7,294	SH		SOLE	0	7,000	0	294
MERCK & COMPANY	Common Stocks	58933Y105	267	4,697	SH		SOLE	0	2,100	0	2,597
MARKWEST ENERGY PARTNERS L PUNIT LTD PARTN	Common Stocks	570759100	366	6,500	SH		SOLE	0	0	0	6,500
TARGA RESOURCES PARTNERS LP COM UNIT	Common Stocks	87611X105	6,148	159,286	SH		SOLE	0	9,050	0	150,236
NUSTAR GP HOLDINGS LLC UNITS	Common Stocks	67059L102	223	5,869	SH		SOLE	0	0	0	5,869
Nuveen Dividend Advantage Municipal Income Fund	Fixed Income Closed-End Fund	67071L106	271	20,000	PRN		SOLE	0	0	0	20,000
NOVARTIS AG SPONSORED ADR	Common Stocks	66987V109	9,696	98,593	SH		SOLE	0	36,541	0	62,052
SOUTHWEST BANCORP INC	Common Stocks	844767103	186	10,015	SH		SOLE	0	10,015	0	0
OXBRIDGE RE HOLDINGS LTD	Common Stocks	G6856M106	119	19,750	SH		SOLE	0	0	0	19,750
PLAINS ALL AMERN PIPELINE L UNIT L P INT	Common Stocks	726503105	5,942	136,371	SH		SOLE	0	7,800	0	128,571
Pure Cycle Corp	Common Stocks	746228303	764	147,216	SH		SOLE	0	147,216	0	0
PIMCO DYNAMIC INC FUND	Fixed Income Closed-End Fund	72201Y101	12,049	412,487	PRN		SOLE	0	146,061	0	266,426
PFIZER INC	Common Stocks	717081103	6,627	197,651	SH		SOLE	0	98,763	0	98,888
ISHARES S&P PREFERRED STOCK INDEX FUND	Preferred Stock	464288687	2,946	75,210	PRN		SOLE	0	280	0	74,930
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	283	3,617	SH		SOLE	0	0	0	3,617
PLUG POWER INC	Common Stocks	72919P202	202	75,000	SH		SOLE	0	75,000	0	0
PINNACLE FINANCIAL PARTNERS	Common Stocks	72346Q104	286	5,265	SH		SOLE	0	5,265	0	0
RITE AID CORP	Common Stocks	767754104	710	85,000	SH		SOLE	0	0	0	85,000
RAIT FINANCIAL TRUST	Common Stocks	749227609	287	47,000	SH		SOLE	0	0	0	47,000
REEDS INC COM	Common Stocks	758338107	274	52,676	SH		SOLE	0	52,676	0	0
REMY INTERNATIO	Common Stocks	75971M108	685	31,000	SH		SOLE	0	31,000	0	0
REALD INC COM	Common Stocks	75604L105	445	35,685	SH		SOLE	0	35,685	0	0
RENTECH NITROGEN PARTNERS L P COM UNIT	Common Stocks	760113100	123	10,000	SH		SOLE	0	10,000	0	0
REPUBLIC SERVICES, INC.	Common Stocks	760759100	8,439	215,441	SH		SOLE	0	90,093	0	125,348
RENTECH INC	Common Stocks	760112102	186	200,000	SH		SOLE	0	200,000	0	0
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	334	8,900	SH		SOLE	0	8,900	0	0
PROSHARES TR PSHS SHRT S&P5	Equity ETFs	74347R503	3,980	186,525	PRN		SOLE	0	59,939	0	126,586
STERLING BANCORP	Common Stocks	85917A100	14,101	959,253	SH		SOLE	0	353,426	0	605,827
CONSTELLATION BRANDS INC-A	Common Stocks	21036P108	7,485	64,516	SH		SOLE	0	29,451	0	35,065
A T & T INC (NEW)	Common Stocks	00206R102	243	6,843	SH		SOLE	0	0	0	6,843
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	1,333	27,715	SH		SOLE	0	0	0	27,715
TOOTSIE ROLL INDUSTRIES, INC.	Common Stocks	890516107	4,526	140,066	SH		SOLE	0	58,637	0	81,429
TWO HBRS INVT CORP	Common Stocks	90187B101	8,431	865,657	SH		SOLE	0	345,817	0	519,840
UNITED INSURANCE HOLDINGS CO.	Common Stocks	910710102	155	10,000	SH		SOLE	0	0	0	10,000
UNITED NATURAL FOODS INC	Common Stocks	911163103	567	8,600	SH		SOLE	0	8,600	0	0
VECTOR GROUP LTD.	Common Stocks	92240M108	9,042	385,419	SH		SOLE	0	160,596	0	224,823
VERIZON COMMUNICATIONS	Common Stocks	92343V104	470	10,088	SH		SOLE	0	500	0	9,588
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	5,093	80,375	SH		SOLE	0	500	0	79,875
WESTWOOD HOLDINGS GROUP, INC.	Common Stocks	961765104	4,838	81,213	SH		SOLE	0	31,794	0	49,419
WHEELER REAL ESTATE SER B. 9.00% CONV. PREF	Preferred Stock	963025309	5,539	231,466	PRN		SOLE	0	90,903	0	140,563
WAL MART STORES INC	Common Stocks	931142103	13,718	193,399	SH		SOLE	0	73,801	0	119,598
WILLIAMS PARTNERS LP	Common Stocks	96949L105	1,089	22,492	SH		SOLE	0	0	0	22,492
EXXON MOBIL CORP	Common Stocks	30231G102	564	6,775	SH		SOLE	0	0	0	6,775
COLONY FINANCIAL CONV. SR NT	Convertible Bonds	19624RAB2	3,278	3,250,000	PRN		SOLE	0	750,000	0	2,500,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	11,023	11,155,000	PRN		SOLE	0	1,685,000	0	9,470,000
Royal Gold Inc Conv Sr Note 2.875% 06/15/19	Convertible Bonds	780287AA6	11	11,000	PRN		SOLE	0	11,000	0	0
SPDR S&P MIDCAP ETF TRST	Equity ETFs	78467Y107	272	1,000	PRN		SOLE	0	0	0	1,000