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
COLONY FINANCIAL CONV. SR NT	Convertible Bonds	19624RAB2	3,106	3,250,000	PRN		SOLE	0	750,000	0	2,500,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	10,151	11,155,000	PRN		SOLE	0	1,685,000	0	9,470,000
MACQUARIE INFRASTRUCTURE	Convertible Bonds	55608BAA3	114	100,000	PRN		SOLE	0	0	0	100,000
Royal Gold Inc Conv Sr Note 2.875% 06/15/19	Convertible Bonds	780287AA6	11	11,000	PRN		SOLE	0	11,000	0	0
APPLE COMPUTER INC	Common Stocks	037833100	1,092	9,903	SH		SOLE	0	482	0	9,421
AMERICAN MIDSTREAM PARTNERS LLP	Common Stocks	02752P100	228	20,550	SH		SOLE	0	0	0	20,550
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETN	46625H365	1,923	63,270	PRN		SOLE	0	24,353	0	38,917
AMERIPRISE FINL INC	Common Stocks	03076C106	262	2,400	SH		SOLE	0	0	0	2,400
AMERICAN RIVER BANKSHRS	Common Stocks	029326105	112	11,675	SH		SOLE	0	11,675	0	0
AMAZON COM INC	Common Stocks	023135106	3,756	7,338	SH		SOLE	0	0	0	7,338
ALPINE TOTAL DYNAMIC DIVIDEND FUND	Equity Closed-End Fund	021060207	8,510	1,134,698	PRN		SOLE	0	487,255	0	647,444
AMERICAN EXPRESS CO	Common Stocks	025816109	927	12,500	SH		SOLE	0	0	0	12,500
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	Common Stocks	106776107	52	25,500	SH		SOLE	0	0	0	25,500
POWERSHARES SENIOR LOAN	Fixed Income ETF	73936Q769	806	35,000	PRN		SOLE	0	0	0	35,000
BRYN MAWR BANK CORP	Common Stocks	117665109	5,974	192,262	SH		SOLE	0	84,396	0	107,866
BLUEROCK RESIDENTIAL GROWTH	Common Stocks	09627J102	6,230	520,007	SH		SOLE	0	245,702	0	274,305
CELGENE CORP	Common Stocks	151020104	747	6,905	SH		SOLE	0	0	0	6,905
COMCAST CORP NEW CL A	Common Stocks	20030N101	215	3,772	SH		SOLE	0	3,712	0	60
COBIZ FINANCIAL INC	Common Stocks	190897108	166	12,725	SH		SOLE	0	12,725	0	0
COSTCO WHOLESALE CORP	Common Stocks	22160K105	289	2,000	SH		SOLE	0	0	0	2,000
CVS CORP	Common Stocks	126650100	7,451	77,227	SH		SOLE	0	38,974	0	38,253
WALT DISNEY COMPANY	Common Stocks	254687106	1,077	10,541	SH		SOLE	0	80	0	10,461
DOLLAR TREE INC	Common Stocks	256746108	667	10,000	SH		SOLE	0	0	0	10,000
PROSHARES SHORT DOW 30	Equity ETFs	74347R701	221	9,000	PRN		SOLE	0	0	0	9,000
EDAP TMS SA-ADR	Common Stocks	268311107	307	55,000	SH		SOLE	0	0	0	55,000
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	17,567	705,519	SH		SOLE	0	214,846	0	490,673
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	749	36,000	SH		SOLE	0	8,000	0	28,000
ENERGY TRANSFER PARTNERS L.P.	Common Stocks	29273R109	301	7,322	SH		SOLE	0	0	0	7,322
EV ENERGY PARTNERS LP	Common Stocks	26926V107	81	13,500	SH		SOLE	0	0	0	13,500
FACEBOOK INC	Common Stocks	30303M102	405	4,500	SH		SOLE	0	0	0	4,500
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	389	11,920	SH		SOLE	0	11,920	0	0
1ST CENTY BANCSHARES INC COM	Common Stocks	31943X102	189	23,920	SH		SOLE	0	23,920	0	0
FEDERATED INVESTORS INC-CL B	Common Stocks	314211103	770	26,655	SH		SOLE	0	1,875	0	24,780
WINTHROP REALTY TRUST	Common Stocks	976391300	17,562	1,223,006	SH		SOLE	0	489,733	0	733,273
GENESIS ENERGY LP	Common Stocks	371927104	231	6,030	SH		SOLE	0	0	0	6,030
GILEAD Sciences	Common Stocks	375558103	367	3,734	SH		SOLE	0	3,234	0	500
GREEN BANCORP INC	Common Stocks	39260X100	134	11,655	SH		SOLE	0	11,655	0	0
GOOGLE INC CL C	Common Stocks	38259P706	2,745	4,511	SH		SOLE	0	6	0	4,505
GOOGLE INC	Common Stocks	38259P508	426	667	SH		SOLE	0	4	0	663
GRAMERCY PROPERTY TRUST INC	Common Stocks	38489R605	10,274	494,654	SH		SOLE	0	196,105	0	298,549
HOWARD BANCORP	Common Stocks	442496105	2,712	191,000	SH		SOLE	0	0	0	191,000
HERITAGE FINANCIAL CORP	Common Stocks	42722X106	6,461	343,328	SH		SOLE	0	153,510	0	189,818
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12	Preferred Stock	404280604	2,452	96,931	PRN		SOLE	0	43,771	0	53,160
HERITAGE COMMERCE CORP	Common Stocks	426927109	589	51,896	SH		SOLE	0	44,691	0	7,205
Ishares Russell 1000 Growth ETF	Equity ETFs	464287614	264	2,835	PRN		SOLE	0	2,835	0	0
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	9,089	405,744	PRN		SOLE	0	170,872	0	234,872
JOHNSON & JOHNSON	Common Stocks	478160104	904	9,683	SH		SOLE	0	498	0	9,185
KINGSTONE INC	Common Stocks	496719105	173	20,000	SH		SOLE	0	0	0	20,000
KINDER MORGAN INC	Common Stocks	49456B101	836	30,197	SH		SOLE	0	0	0	30,197
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	17,437	150,206	PRN		SOLE	0	78,289	0	71,917
LEGACYTEXAS FINANCIAL GROUP	Common Stocks	52471Y106	222	7,270	SH		SOLE	0	7,270	0	0
MATTEL INC.	Common Stocks	577081102	561	26,625	SH		SOLE	0	0	0	26,625
MEDLEY CAP CORP	Common Stocks	58503F106	6,569	882,922	SH		SOLE	0	394,093	0	488,829
MCDONALDS CORP	Common Stocks	580135101	10,578	107,361	SH		SOLE	0	43,334	0	64,027
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	723	17,264	SH		SOLE	0	0	0	17,264
SPDR S&P MIDCAP ETF TRST	Equity ETFs	78467Y107	249	1,000	PRN		SOLE	0	0	0	1,000
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	14,194	236,139	SH		SOLE	0	82,371	0	153,768
MERCK & COMPANY	Common Stocks	58933Y105	225	4,547	SH		SOLE	0	2,750	0	1,797
MARKWEST ENERGY PARTNERS L PUNIT LTD PARTN	Common Stocks	570759100	279	6,500	SH		SOLE	0	0	0	6,500
NEXTERA ENERGY, INC.	Common Stocks	65339F101	668	6,843	SH		SOLE	0	0	0	6,843
TARGA RESOURCES PARTNERS LP COM UNIT	Common Stocks	87611X105	1,966	67,700	SH		SOLE	0	0	0	67,700
Nuveen Dividend Advantage Municipal Income Fund	Fixed Income Closed-End Fund	67071L106	446	32,000	PRN		SOLE	0	0	0	32,000
NOVARTIS AG SPONSORED ADR	Common Stocks	66987V109	9,061	98,580	SH		SOLE	0	41,016	0	57,564
OXBRIDGE RE HOLDINGS LTD	Common Stocks	G6856M106	118	19,750	SH		SOLE	0	0	0	19,750
PLAINS ALL AMERN PIPELINE L UNIT L P INT	Common Stocks	726503105	4,092	134,683	SH		SOLE	0	7,800	0	126,883
PIMCO DYNAMIC INC FUND	Fixed Income Closed-End Fund	72201Y101	15,491	537,878	PRN		SOLE	0	207,722	0	330,156
PFIZER INC	Common Stocks	717081103	6,653	211,827	SH		SOLE	0	118,899	0	92,928
ISHARES S&P PREFERRED STOCK INDEX FUND	Preferred Stock	464288687	2,903	75,210	PRN		SOLE	0	280	0	74,930
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	260	3,617	SH		SOLE	0	0	0	3,617
PINNACLE FINANCIAL PARTNERS	Common Stocks	72346Q104	274	5,540	SH		SOLE	0	5,540	0	0
RITE AID CORP	Common Stocks	767754104	516	85,000	SH		SOLE	0	0	0	85,000
REPUBLIC SERVICES, INC.	Common Stocks	760759100	8,952	217,275	SH		SOLE	0	103,142	0	114,133
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	385	9,275	SH		SOLE	0	9,275	0	0
PROSHARES TR PSHS SHRT S&P5	Equity ETFs	74347R503	1,971	87,575	PRN		SOLE	0	32,939	0	54,636
STERLING BANCORP	Common Stocks	85917A100	9,956	669,540	SH		SOLE	0	286,858	0	382,682
STONEMOR PARTNERS LP	Common Stocks	86183Q100	6,601	241,978	SH		SOLE	0	106,794	0	135,184
CONSTELLATION BRANDS INC-A	Common Stocks	21036P108	8,779	70,118	SH		SOLE	0	34,620	0	35,498
SILVERCREST MINES INC.	Common Stocks	828365106	114	130,000	SH		SOLE	0	130,000	0	0
A T & T INC (NEW)	Common Stocks	00206R102	223	6,843	SH		SOLE	0	0	0	6,843
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	1,089	27,715	SH		SOLE	0	0	0	27,715
THORATEC CORP NEW	Common Stocks	885175307	264	4,175	SH		SOLE	0	0	0	4,175
TOOTSIE ROLL INDUSTRIES, INC.	Common Stocks	890516107	4,589	146,669	SH		SOLE	0	66,477	0	80,192
TWO HBRS INVT CORP	Common Stocks	90187B101	235	26,685	SH		SOLE	0	17,000	0	9,685
VECTOR GROUP LTD.	Common Stocks	92240M108	10,919	482,947	SH		SOLE	0	216,452	0	266,495
VANGUARD DIVIDEND APPREC	Equity ETFs	921908844	243	3,295	PRN		SOLE	0	3,295	0	0
VERIZON COMMUNICATIONS	Common Stocks	92343V104	450	10,338	SH		SOLE	0	750	0	9,588
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	3,607	77,040	SH		SOLE	0	500	0	76,540
WESTWOOD HOLDINGS GROUP, INC.	Common Stocks	961765104	4,427	81,458	SH		SOLE	0	35,524	0	45,934
WHEELER REAL ESTATE SER B. 9.00% CONV. PREF	Preferred Stock	963025309	2,858	122,905	PRN		SOLE	0	47,175	0	75,730
WAL MART STORES INC	Common Stocks	931142103	764	11,777	SH		SOLE	0	270	0	11,507
WILLIAMS PARTNERS LP	Common Stocks	96949L105	718	22,492	SH		SOLE	0	0	0	22,492
EXXON MOBIL CORP	Common Stocks	30231G102	504	6,775	SH		SOLE	0	0	0	6,775
ZELTIQ AESTHETICS INC	Common Stocks	98933Q108	359	11,200	SH		SOLE	0	0	0	11,200