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	2,817	3,150,000	PRN		SOLE	0	750,000	0	2,400,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	11,758	13,652,000	PRN		SOLE	0	3,520,000	0	10,132,000
MACQUARIE INFRASTRUCTURE	Convertible Bonds	55608BAA3	110	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	1,141	10,470	SH		SOLE	0	45	0	10,425
AMERICAN MIDSTREAM PARTNERS LLP	Common Stocks	02752P100	131	19,000	SH		SOLE	0	0	0	19,000
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETN	46625H365	848	31,311	PRN		SOLE	0	16,401	0	14,910
AMERIPRISE FINL INC	Common Stocks	03076C106	226	2,400	SH		SOLE	0	0	0	2,400
AMERICAN RIVER BANKSHRS	Common Stocks	029326105	112	11,070	SH		SOLE	0	11,070	0	0
AMAZON COM INC	Common Stocks	023135106	2,532	4,266	SH		SOLE	0	0	0	4,266
ALPINE TOTAL DYNAMIC DIVIDEND FUND	Equity Closed-End Fund	021060207	9,117	1,215,555	PRN		SOLE	0	591,599	0	623,957
AMERICAN EXPRESS CO	Common Stocks	025816109	755	12,300	SH		SOLE	0	0	0	12,300
BOOZ ALLEN HAMILTON HOLDINGS	Common Stocks	099502106	5,165	170,587	SH		SOLE	0	80,263	0	90,324
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	Common Stocks	106776107	14	25,500	SH		SOLE	0	0	0	25,500
POWERSHARES SENIOR LOAN	Fixed Income ETF	73936Q769	454	20,000	PRN		SOLE	0	0	0	20,000
BROADRIDGE FINANCIAL SOLUTIONS	Common Stocks	11133T103	282	4,759	SH		SOLE	0	2,150	0	2,609
BLUEROCK RESIDENTIAL GROWTH	Common Stocks	09627J102	6,858	630,301	SH		SOLE	0	310,802	0	319,499
CAPITAL BANK FINANCIAL - CL A	Common Stocks	139794101	231	7,495	SH		SOLE	0	7,495	0	0
CELGENE CORP	Common Stocks	151020104	691	6,905	SH		SOLE	0	0	0	6,905
COMCAST CORP NEW CL A	Common Stocks	20030N101	217	3,560	SH		SOLE	0	3,500	0	60
CME GROUP INC	Common Stocks	12572Q105	4,989	51,942	SH		SOLE	0	24,694	0	27,248
COSTCO WHOLESALE CORP	Common Stocks	22160K105	315	2,000	SH		SOLE	0	0	0	2,000
WALT DISNEY COMPANY	Common Stocks	254687106	1,142	11,495	SH		SOLE	0	0	0	11,495
DOLLAR TREE INC	Common Stocks	256746108	825	10,000	SH		SOLE	0	0	0	10,000
EDAP TMS SA-ADR	Common Stocks	268311107	221	55,000	SH		SOLE	0	0	0	55,000
ENTERPRISE FINANCIAL SERVICES CORP	Common Stocks	293712105	235	8,705	SH		SOLE	0	8,705	0	0
SYNERON MEDICAL LTD	Common Stocks	M87245102	117	16,000	SH		SOLE	0	0	0	16,000
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	14,506	589,189	SH		SOLE	0	175,127	0	414,062
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	257	36,000	SH		SOLE	0	8,000	0	28,000
ENERGY TRANSFER PARTNERS L.P.	Common Stocks	29273R109	230	7,122	SH		SOLE	0	0	0	7,122
EV ENERGY PARTNERS LP	Common Stocks	26926V107	26	13,500	SH		SOLE	0	0	0	13,500
FACEBOOK INC	Common Stocks	30303M102	559	4,900	SH		SOLE	0	0	0	4,900
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	460	13,835	SH		SOLE	0	13,835	0	0
FOUR CORNERS PROPERTY TRUST	Common Stocks	35086T109	5,249	292,403	SH		SOLE	0	142,919	0	149,484
1ST CENTY BANCSHARES INC COM	Common Stocks	31943X102	323	29,479	SH		SOLE	0	29,479	0	0
FIRST OF LONG ISLAND CORP	Common Stocks	320734106	5,154	180,827	SH		SOLE	0	82,777	0	98,050
WINTHROP REALTY TRUST	Common Stocks	976391300	14,919	1,136,277	SH		SOLE	0	517,855	0	618,422
GILEAD Sciences	Common Stocks	375558103	294	3,200	SH		SOLE	0	3,200	0	0
ALPHABET INC -CL C	Common Stocks	02079K107	2,770	3,719	SH		SOLE	0	0	0	3,719
ALPHABET INC -CL A	Common Stocks	02079K305	509	667	SH		SOLE	0	4	0	663
GRAMERCY PROPERTY TRUST	Common Stocks	385002100	12,762	1,510,303	SH		SOLE	0	675,768	0	834,535
iShares INT. GOVT/CREDIT BOND ETF	Fixed Income ETF	464288612	16,132	143,959	PRN		SOLE	0	61,779	0	82,180
HOWARD BANCORP	Common Stocks	442496105	2,418	201,000	SH		SOLE	0	0	0	201,000
HERITAGE FINANCIAL CORP	Common Stocks	42722X106	4,328	246,343	SH		SOLE	0	123,360	0	122,983
HAMPTON ROADS BANCSHARES INC	Common Stocks	409321502	28	15,700	SH		SOLE	0	15,700	0	0
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12	Preferred Stock	404280604	2,582	100,826	PRN		SOLE	0	47,912	0	52,914
HERITAGE COMMERCE CORP	Common Stocks	426927109	276	27,540	SH		SOLE	0	27,540	0	0
ISHARES 7-10 YR TRESURY BD ETF	Fixed Income ETF	464287440	20,171	182,809	PRN		SOLE	0	83,057	0	99,752
PRUDENTIAL ST DUR HY FUND	Fixed Income Closed-End Fund	74442F107	770	50,000	PRN		SOLE	0	50,000	0	0
Ishares Russell 1000 Growth ETF	Equity ETFs	464287614	234	2,345	PRN		SOLE	0	2,345	0	0
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	8,626	383,726	PRN		SOLE	0	189,985	0	193,741
JOHNSON & JOHNSON	Common Stocks	478160104	993	9,177	SH		SOLE	0	0	0	9,177
NUVEEN CREDIT STRAT FUND	Fixed Income Closed-End Fund	67073D102	490	62,000	PRN		SOLE	0	62,000	0	0
KINDER MORGAN INC	Common Stocks	49456B101	192	10,765	SH		SOLE	0	0	0	10,765
DIREXION INSIDER	Equity ETFs	25459Y769	298	4,200	PRN		SOLE	0	0	0	4,200
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	19,916	167,616	PRN		SOLE	0	103,651	0	63,965
MCDONALDS CORP	Common Stocks	580135101	12,812	101,944	SH		SOLE	0	45,023	0	56,921
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	608	15,163	SH		SOLE	0	0	0	15,163
AG MTG INVT TR	Common Stocks	001228105	398	30,475	SH		SOLE	0	8,925	0	21,550
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	13,765	200,067	SH		SOLE	0	61,105	0	138,962
MPLX LP	Common Stocks	55336V100	210	7,085	SH		SOLE	0	0	0	7,085
AMERICAN CAP MORTGAGE INVESTMENT CORP.	Common Stocks	02504A104	421	28,675	SH		SOLE	0	8,825	0	19,850
NUVEEN AMT-FREE MUNI INCOME FUND	Fixed Income Closed-End Fund	670657105	676	47,540	PRN		SOLE	0	17,540	0	30,000
NUVEEN MUNICIPAL ADVANTAGE FUND	Fixed Income Closed-End Fund	67062H106	672	46,795	PRN		SOLE	0	17,295	0	29,500
Nuveen Dividend Advantage Municipal Income Fund	Fixed Income Closed-End Fund	67071L106	995	65,585	PRN		SOLE	0	16,585	0	49,000
NOVARTIS AG SPONSORED ADR	Common Stocks	66987V109	350	4,825	SH		SOLE	0	0	0	4,825
OXBRIDGE RE HOLDINGS LTD	Common Stocks	G6856M106	101	19,750	SH		SOLE	0	0	0	19,750
PLAINS ALL AMERN PIPELINE L UNIT L P INT	Common Stocks	726503105	1,576	75,135	SH		SOLE	0	3,900	0	71,235
PIMCO DYNAMIC INC FUND	Fixed Income Closed-End Fund	72201Y101	10,237	392,979	PRN		SOLE	0	191,939	0	201,040
ISHARES S&P PREFERRED STOCK INDEX FUND	Preferred Stock	464288687	2,042	52,316	PRN		SOLE	0	280	0	52,036
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	265	3,221	SH		SOLE	0	0	0	3,221
PINNACLE FINANCIAL PARTNERS	Common Stocks	72346Q104	417	8,495	SH		SOLE	0	8,495	0	0
RITE AID CORP	Common Stocks	767754104	693	85,000	SH		SOLE	0	0	0	85,000
REPUBLIC SERVICES, INC.	Common Stocks	760759100	10,263	215,387	SH		SOLE	0	107,049	0	108,338
REDWOOD TRUST INC	Common Stocks	758075402	9,729	743,796	SH		SOLE	0	365,051	0	378,745
STARBUCKS CORP	Common Stocks	855244109	330	5,520	SH		SOLE	0	0	0	5,520
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	472	10,620	SH		SOLE	0	10,620	0	0
PROSHARES TR PSHS SHRT S&P5	Equity ETFs	74347R503	3,774	184,927	PRN		SOLE	0	83,326	0	101,601
ISHARES SHORT TREASURY BOND	Fixed Income ETF	464288679	5,077	46,000	PRN		SOLE	0	0	0	46,000
SVB FINANCIAL GROUP	Common Stocks	78486Q101	375	3,673	SH		SOLE	0	3,673	0	0
STERLING BANCORP	Common Stocks	85917A100	4,876	306,066	SH		SOLE	0	148,218	0	157,848
CONSTELLATION BRANDS INC-A	Common Stocks	21036P108	10,953	72,493	SH		SOLE	0	36,219	0	36,274
A T & T INC (NEW)	Common Stocks	00206R102	279	7,113	SH		SOLE	0	0	0	7,113
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	997	26,015	SH		SOLE	0	0	0	26,015
TOOTSIE ROLL INDUSTRIES, INC.	Common Stocks	890516107	7,432	212,721	SH		SOLE	0	105,303	0	107,418
TARGA RESOURCES	Common Stocks	87612G101	1,035	34,658	SH		SOLE	0	0	0	34,658
VECTOR GROUP LTD.	Common Stocks	92240M108	11,332	496,162	SH		SOLE	0	242,524	0	253,638
VERIZON COMMUNICATIONS	Common Stocks	92343V104	729	13,475	SH		SOLE	0	4,654	0	8,821
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	1,825	42,040	SH		SOLE	0	0	0	42,040
WAL MART STORES INC	Common Stocks	931142103	767	11,200	SH		SOLE	0	200	0	11,000
WILLIAMS PARTNERS LP	Common Stocks	96949L105	399	19,503	SH		SOLE	0	0	0	19,503
EXXON MOBIL CORP	Common Stocks	30231G102	583	6,980	SH		SOLE	0	0	0	6,980
ZAIS FINANCIAL CORP	Common Stocks	98886K108	239	16,000	SH		SOLE	0	0	0	16,000
ZELTIQ AESTHETICS INC	Common Stocks	98933Q108	304	11,200	SH		SOLE	0	0	0	11,200