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
COLONY FINANCIAL CONV. SR NT	Convertible Bonds	19624RAB2	3,001	3,225,000	PRN		SOLE	0	750,000	0	2,475,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	10,003	11,440,000	PRN		SOLE	0	2,145,000	0	9,295,000
MACQUARIE INFRASTRUCTURE	Convertible Bonds	55608BAA3	112	100,000	PRN		SOLE	0	0	0	100,000
Royal Gold Inc Conv Sr Note 2.875% 06/15/19	Convertible Bonds	780287AA6	10	11,000	PRN		SOLE	0	11,000	0	0
APPLE COMPUTER INC	Common Stocks	037833100	848	8,052	SH		SOLE	0	482	0	7,570
FIRST MAJESTIC SILVER CORP	Common Stocks	32076V103	67	20,485	SH		SOLE	0	20,485	0	0
AMERICAN MIDSTREAM PARTNERS LLP	Common Stocks	02752P100	154	19,000	SH		SOLE	0	0	0	19,000
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETN	46625H365	1,075	37,095	PRN		SOLE	0	15,555	0	21,540
AMERIPRISE FINL INC	Common Stocks	03076C106	255	2,400	SH		SOLE	0	0	0	2,400
AMERICAN RIVER BANKSHRS	Common Stocks	029326105	124	11,675	SH		SOLE	0	11,675	0	0
AMAZON COM INC	Common Stocks	023135106	4,726	6,993	SH		SOLE	0	0	0	6,993
ALPINE TOTAL DYNAMIC DIVIDEND FUND	Equity Closed-End Fund	021060207	9,456	1,231,292	PRN		SOLE	0	582,970	0	648,323
AMERICAN EXPRESS CO	Common Stocks	025816109	855	12,300	SH		SOLE	0	0	0	12,300
BOOZ ALLEN HAMILTON HOLDINGS	Common Stocks	099502106	5,367	173,969	SH		SOLE	0	78,335	0	95,634
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	Common Stocks	106776107	17	25,500	SH		SOLE	0	0	0	25,500
POWERSHARES SENIOR LOAN	Fixed Income ETF	73936Q769	784	35,000	PRN		SOLE	0	0	0	35,000
BLUEROCK RESIDENTIAL GROWTH	Common Stocks	09627J102	7,370	621,915	SH		SOLE	0	291,460	0	330,455
CELGENE CORP	Common Stocks	151020104	827	6,905	SH		SOLE	0	0	0	6,905
COMCAST CORP NEW CL A	Common Stocks	20030N101	213	3,772	SH		SOLE	0	3,712	0	60
CME GROUP INC	Common Stocks	12572Q105	4,696	51,827	SH		SOLE	0	24,252	0	27,575
COSTCO WHOLESALE CORP	Common Stocks	22160K105	323	2,000	SH		SOLE	0	0	0	2,000
WALT DISNEY COMPANY	Common Stocks	254687106	1,111	10,575	SH		SOLE	0	80	0	10,495
DOLLAR TREE INC	Common Stocks	256746108	772	10,000	SH		SOLE	0	0	0	10,000
PROSHARES SHORT DOW 30	Equity ETFs	74347R701	203	9,000	PRN		SOLE	0	0	0	9,000
EDAP TMS SA-ADR	Common Stocks	268311107	227	55,000	SH		SOLE	0	0	0	55,000
ENTERPRISE FINANCIAL SERVICES CORP	Common Stocks	293712105	200	7,065	SH		SOLE	0	7,065	0	0
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	15,525	606,937	SH		SOLE	0	183,135	0	423,802
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	495	36,000	SH		SOLE	0	8,000	0	28,000
ENERGY TRANSFER PARTNERS L.P.	Common Stocks	29273R109	240	7,122	SH		SOLE	0	0	0	7,122
EV ENERGY PARTNERS LP	Common Stocks	26926V107	38	13,500	SH		SOLE	0	0	0	13,500
FACEBOOK INC	Common Stocks	30303M102	513	4,900	SH		SOLE	0	0	0	4,900
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	318	8,890	SH		SOLE	0	8,890	0	0
1ST CENTY BANCSHARES INC COM	Common Stocks	31943X102	203	29,479	SH		SOLE	0	29,479	0	0
FIRST OF LONG ISLAND CORP	Common Stocks	320734106	4,151	138,370	SH		SOLE	0	51,034	0	87,336
WINTHROP REALTY TRUST	Common Stocks	976391300	17,284	1,332,645	SH		SOLE	0	584,574	0	748,071
GILEAD Sciences	Common Stocks	375558103	327	3,234	SH		SOLE	0	3,234	0	0
GREEN BANCORP INC	Common Stocks	39260X100	122	11,655	SH		SOLE	0	11,655	0	0
ALPHABET INC -CL C	Common Stocks	02079K107	3,218	4,240	SH		SOLE	0	6	0	4,234
ALPHABET INC -CL A	Common Stocks	02079K305	519	667	SH		SOLE	0	4	0	663
GRAMERCY PROPERTY TRUST	Common Stocks	385002100	12,188	1,578,693	SH		SOLE	0	676,645	0	902,048
iShares INT. GOVT/CREDIT BOND ETF	Fixed Income ETF	464288612	6,429	58,655	PRN		SOLE	0	26,789	0	31,866
HOWARD BANCORP	Common Stocks	442496105	2,661	201,000	SH		SOLE	0	0	0	201,000
HERITAGE FINANCIAL CORP	Common Stocks	42722X106	4,611	244,734	SH		SOLE	0	117,309	0	127,425
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12	Preferred Stock	404280604	2,587	101,159	PRN		SOLE	0	48,245	0	52,914
HERITAGE COMMERCE CORP	Common Stocks	426927109	749	62,664	SH		SOLE	0	55,459	0	7,205
ISHARES 7-10 YR TRESURY BD ETF	Fixed Income ETF	464287440	9,656	91,447	PRN		SOLE	0	43,429	0	48,018
PRUDENTIAL ST DUR HY FUND	Fixed Income Closed-End Fund	74442F107	730	50,000	PRN		SOLE	0	0	0	50,000
Ishares Russell 1000 Growth ETF	Equity ETFs	464287614	233	2,345	PRN		SOLE	0	2,345	0	0
JACK HENRY & ASSOCIATES INC.	Common Stocks	426281101	6,965	89,229	SH		SOLE	0	43,007	0	46,222
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	8,801	387,522	PRN		SOLE	0	187,755	0	199,767
JOHNSON & JOHNSON	Common Stocks	478160104	995	9,683	SH		SOLE	0	498	0	9,185
KINGSTONE INC	Common Stocks	496719105	406	45,100	SH		SOLE	0	0	0	45,100
KINDER MORGAN INC	Common Stocks	49456B101	161	10,765	SH		SOLE	0	0	0	10,765
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	17,493	153,437	PRN		SOLE	0	89,503	0	63,934
MEDLEY CAP CORP	Common Stocks	58503F106	5,225	694,816	SH		SOLE	0	336,235	0	358,581
MCDONALDS CORP	Common Stocks	580135101	12,606	106,706	SH		SOLE	0	46,320	0	60,386
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	727	16,219	SH		SOLE	0	0	0	16,219
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	14,427	212,408	SH		SOLE	0	67,765	0	144,643
MPLX LP	Common Stocks	55336V100	279	7,085	SH		SOLE	0	0	0	7,085
MERCK & COMPANY	Common Stocks	58933Y105	243	4,607	SH		SOLE	0	2,750	0	1,857
MICROSOFT	Common Stocks	594918104	5,164	93,076	SH		SOLE	0	41,102	0	51,974
NUVEEN AMT-FREE MUNI INCOME FUND	Fixed Income Closed-End Fund	670657105	416	30,000	PRN		SOLE	0	0	0	30,000
TARGA RESOURCES PARTNERS LP COM UNIT	Common Stocks	87611X105	924	55,900	SH		SOLE	0	0	0	55,900
NUVEEN MUNICIPAL ADVANTAGE FUND	Fixed Income Closed-End Fund	67062H106	409	29,500	PRN		SOLE	0	0	0	29,500
Nuveen Dividend Advantage Municipal Income Fund	Fixed Income Closed-End Fund	67071L106	710	49,000	PRN		SOLE	0	0	0	49,000
NOVARTIS AG SPONSORED ADR	Common Stocks	66987V109	937	10,885	SH		SOLE	0	0	0	10,885
OXBRIDGE RE HOLDINGS LTD	Common Stocks	G6856M106	113	19,750	SH		SOLE	0	0	0	19,750
PLAINS ALL AMERN PIPELINE L UNIT L P INT	Common Stocks	726503105	2,194	94,983	SH		SOLE	0	5,300	0	89,683
PIMCO DYNAMIC INC FUND	Fixed Income Closed-End Fund	72201Y101	13,530	494,522	PRN		SOLE	0	230,792	0	263,730
PFIZER INC	Common Stocks	717081103	7,547	233,812	SH		SOLE	0	131,380	0	102,432
ISHARES S&P PREFERRED STOCK INDEX FUND	Preferred Stock	464288687	2,922	75,210	PRN		SOLE	0	280	0	74,930
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	267	3,368	SH		SOLE	0	0	0	3,368
PINNACLE FINANCIAL PARTNERS	Common Stocks	72346Q104	272	5,300	SH		SOLE	0	5,300	0	0
RITE AID CORP	Common Stocks	767754104	666	85,000	SH		SOLE	0	0	0	85,000
REPUBLIC SERVICES, INC.	Common Stocks	760759100	9,908	225,228	SH		SOLE	0	109,655	0	115,573
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	330	6,935	SH		SOLE	0	6,935	0	0
PROSHARES TR PSHS SHRT S&P5	Equity ETFs	74347R503	3,678	176,253	PRN		SOLE	0	78,893	0	97,360
ISHARES SHORT TREASURY BOND	Fixed Income ETF	464288679	5,070	46,000	PRN		SOLE	0	0	0	46,000
SVB FINANCIAL GROUP	Common Stocks	78486Q101	296	2,490	SH		SOLE	0	2,490	0	0
STERLING BANCORP	Common Stocks	85917A100	5,047	311,171	SH		SOLE	0	143,333	0	167,838
STONEMOR PARTNERS LP	Common Stocks	86183Q100	6,512	243,638	SH		SOLE	0	113,174	0	130,464
CONSTELLATION BRANDS INC-A	Common Stocks	21036P108	10,627	74,610	SH		SOLE	0	36,766	0	37,844
A T & T INC (NEW)	Common Stocks	00206R102	235	6,843	SH		SOLE	0	0	0	6,843
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	1,142	27,715	SH		SOLE	0	0	0	27,715
TOOTSIE ROLL INDUSTRIES, INC.	Common Stocks	890516107	6,770	214,321	SH		SOLE	0	105,201	0	109,120
VECTOR GROUP LTD.	Common Stocks	92240M108	11,951	506,597	SH		SOLE	0	240,895	0	265,702
VANGUARD DIVIDEND APPREC	Equity ETFs	921908844	219	2,815	PRN		SOLE	0	2,815	0	0
VERIZON COMMUNICATIONS	Common Stocks	92343V104	452	9,771	SH		SOLE	0	750	0	9,021
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	3,468	72,965	SH		SOLE	0	0	0	72,965
WESTWOOD HOLDINGS GROUP, INC.	Common Stocks	961765104	238	4,575	SH		SOLE	0	0	0	4,575
WHEELER REAL ESTATE SER B. 9.00% CONV. PREF	Preferred Stock	963025309	2,352	104,405	PRN		SOLE	0	41,130	0	63,275
WAL MART STORES INC	Common Stocks	931142103	712	11,613	SH		SOLE	0	270	0	11,343
WILLIAMS PARTNERS LP	Common Stocks	96949L105	601	21,576	SH		SOLE	0	0	0	21,576
EXXON MOBIL CORP	Common Stocks	30231G102	528	6,775	SH		SOLE	0	0	0	6,775
ZELTIQ AESTHETICS INC	Common Stocks	98933Q108	320	11,200	SH		SOLE	0	0	0	11,200