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	2,700	2,850,000	PRN		SOLE	0	750,000	0	2,100,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	11,850	13,552,000	PRN		SOLE	0	3,520,000	0	10,032,000
APPLE INC.	Common Stocks	037833100	991	10,368	SH		SOLE	0	45	0	10,323
AMERICAN MIDSTREAM PARTNERS LLP	Common Stocks	02752P100	223	18,850	SH		SOLE	0	0	0	18,850
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETN	46625H365	999	31,396	PRN		SOLE	0	17,851	0	13,545
AMERIPRISE FINL INC	Common Stocks	03076C106	216	2,400	SH		SOLE	0	0	0	2,400
AMERICAN RIVER BANKSHRS	Common Stocks	029326105	232	22,555	SH		SOLE	0	22,555	0	0
AMAZON COM INC	Common Stocks	023135106	4,141	5,786	SH		SOLE	0	10	0	5,776
ALPINE TOTAL DYNAMIC DIVIDEND FUND	Equity Closed-End Fund	021060207	329	45,325	PRN		SOLE	0	0	0	45,325
ANTERO RESOURCES CORP.	Common Stocks	03674X106	666	25,641	SH		SOLE	0	0	0	25,641
GLOBAL X MSCI ARGENTINA ETF	Equity ETFs	37950E259	295	13,250	PRN		SOLE	0	0	0	13,250
AMERICAN EXPRESS CO	Common Stocks	025816109	747	12,300	SH		SOLE	0	0	0	12,300
BOOZ ALLEN HAMILTON HOLDINGS	Common Stocks	099502106	5,320	179,503	SH		SOLE	0	88,306	0	91,197
BANC OF CALIFORNIA	Common Stocks	05990K106	257	14,225	SH		SOLE	0	14,225	0	0
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	Common Stocks	106776107	1	25,500	SH		SOLE	0	0	0	25,500
POWERSHARES SENIOR LOAN	Fixed Income ETF	73936Q769	459	20,000	PRN		SOLE	0	0	0	20,000
Blackrock Inc.	Common Stocks	09247X101	291	850	SH		SOLE	0	0	0	850
BROADRIDGE FINANCIAL SOLUTIONS	Common Stocks	11133T103	12,030	184,510	SH		SOLE	0	85,656	0	98,854
CELGENE CORP	Common Stocks	151020104	681	6,905	SH		SOLE	0	0	0	6,905
COMCAST CORP NEW CL A	Common Stocks	20030N101	232	3,560	SH		SOLE	0	3,500	0	60
CME GROUP INC	Common Stocks	12572Q105	5,633	57,834	SH		SOLE	0	27,709	0	30,125
COSTCO WHOLESALE CORP	Common Stocks	22160K105	314	2,000	SH		SOLE	0	0	0	2,000
CVS CORP	Common Stocks	126650100	214	2,235	SH		SOLE	0	0	0	2,235
WALT DISNEY COMPANY	Common Stocks	254687106	1,315	13,445	SH		SOLE	0	0	0	13,445
DOLLAR TREE INC	Common Stocks	256746108	942	10,000	SH		SOLE	0	0	0	10,000
PROSHARES SHORT DOW 30	Equity ETFs	74347R701	203	9,500	PRN		SOLE	0	0	0	9,500
EDAP TMS SA-ADR	Common Stocks	268311107	182	55,000	SH		SOLE	0	0	0	55,000
Morgan Stanley Emerging Markets Domestic Debt Fund	Fixed Income Closed-End Fund	617477104	1,031	134,435	PRN		SOLE	0	14,435	0	120,000
ENTERPRISE FINANCIAL SERVICES CORP	Common Stocks	293712105	243	8,705	SH		SOLE	0	8,705	0	0
SYNERON MEDICAL LTD	Common Stocks	M87245102	123	16,000	SH		SOLE	0	0	0	16,000
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	17,741	606,309	SH		SOLE	0	191,407	0	414,902
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	517	36,000	SH		SOLE	0	8,000	0	28,000
ENERGY TRANSFER PARTNERS L.P.	Common Stocks	29273R109	257	6,752	SH		SOLE	0	0	0	6,752
EV ENERGY PARTNERS LP	Common Stocks	26926V107	31	13,500	SH		SOLE	0	0	0	13,500
FACEBOOK INC	Common Stocks	30303M102	850	7,440	SH		SOLE	0	40	0	7,400
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	398	11,700	SH		SOLE	0	11,700	0	0
FOUR CORNERS PROPERTY TRUST	Common Stocks	35086T109	6,526	316,970	SH		SOLE	0	155,793	0	161,177
FIRST OF LONG ISLAND CORP	Common Stocks	320734106	6,355	221,675	SH		SOLE	0	93,646	0	128,029
GILEAD Sciences	Common Stocks	375558103	267	3,200	SH		SOLE	0	3,200	0	0
ALPHABET INC -CL C	Common Stocks	02079K107	3,659	5,287	SH		SOLE	0	8	0	5,279
ALPHABET INC -CL A	Common Stocks	02079K305	469	667	SH		SOLE	0	4	0	663
GRAMERCY PROPERTY TRUST	Common Stocks	385002100	14,851	1,610,697	SH		SOLE	0	723,605	0	887,092
iShares INT. GOVT/CREDIT BOND ETF	Fixed Income ETF	464288612	18,923	166,947	PRN		SOLE	0	82,902	0	84,045
HOWARD BANCORP	Common Stocks	442496105	2,623	201,765	SH		SOLE	0	0	0	201,765
HOME DEPOT INC	Common Stocks	437076102	239	1,872	SH		SOLE	0	0	0	1,872
HILTON WORLDWIDE HOLDINGS INC.	Common Stocks	43300A104	203	9,000	SH		SOLE	0	0	0	9,000
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12	Preferred Stock	404280604	2,710	104,480	PRN		SOLE	0	51,526	0	52,954
HERITAGE COMMERCE CORP	Common Stocks	426927109	290	27,540	SH		SOLE	0	27,540	0	0
ISHARES 7-10 YR TRESURY BD ETF	Fixed Income ETF	464287440	13,585	120,270	PRN		SOLE	0	58,439	0	61,831
PRUDENTIAL ST DUR HY FUND	Fixed Income Closed-End Fund	74442F107	995	63,000	PRN		SOLE	0	50,000	0	13,000
Ishares Russell 1000 Growth ETF	Equity ETFs	464287614	207	2,065	PRN		SOLE	0	2,065	0	0
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	9,585	414,948	PRN		SOLE	0	210,189	0	204,759
JOHNSON & JOHNSON	Common Stocks	478160104	1,113	9,177	SH		SOLE	0	0	0	9,177
NUVEEN CREDIT STRAT FUND	Fixed Income Closed-End Fund	67073D102	858	106,165	PRN		SOLE	0	100,300	0	5,865
KINDER MORGAN INC	Common Stocks	49456B101	202	10,765	SH		SOLE	0	0	0	10,765
DIREXION INSIDER	Equity ETFs	25459Y769	306	4,200	PRN		SOLE	0	0	0	4,200
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	22,803	185,794	PRN		SOLE	0	119,976	0	65,818
MCDONALDS CORP	Common Stocks	580135101	9,230	76,703	SH		SOLE	0	38,807	0	37,896
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	693	15,217	SH		SOLE	0	54	0	15,163
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	15,663	206,091	SH		SOLE	0	66,732	0	139,359
MPLX LP	Common Stocks	55336V100	238	7,085	SH		SOLE	0	0	0	7,085
Nuveen Dividend Advantage Municipal Income Fund	Fixed Income Closed-End Fund	67071L106	325	20,000	PRN		SOLE	0	0	0	20,000
NOVARTIS AG SPONSORED ADR	Common Stocks	66987V109	398	4,825	SH		SOLE	0	0	0	4,825
OXBRIDGE RE HOLDINGS LTD	Common Stocks	G6856M106	99	19,750	SH		SOLE	0	0	0	19,750
PLAINS ALL AMERN PIPELINE L UNIT L P INT	Common Stocks	726503105	2,012	73,185	SH		SOLE	0	3,900	0	69,285
PIMCO DYNAMIC INC FUND	Fixed Income Closed-End Fund	72201Y101	201	7,280	PRN		SOLE	0	1,465	0	5,815
ISHARES S&P PREFERRED STOCK INDEX FUND	Preferred Stock	464288687	1,570	39,356	PRN		SOLE	0	280	0	39,076
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	273	3,221	SH		SOLE	0	0	0	3,221
PINNACLE FINANCIAL PARTNERS	Common Stocks	72346Q104	225	4,600	SH		SOLE	0	4,600	0	0
RITE AID CORP	Common Stocks	767754104	637	85,000	SH		SOLE	0	0	0	85,000
REPUBLIC SERVICES, INC.	Common Stocks	760759100	11,500	224,133	SH		SOLE	0	116,625	0	107,508
REDWOOD TRUST INC	Common Stocks	758075402	10,671	772,682	SH		SOLE	0	399,732	0	372,950
STARBUCKS CORP	Common Stocks	855244109	315	5,520	SH		SOLE	0	0	0	5,520
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	391	7,920	SH		SOLE	0	7,920	0	0
PROSHARES TR PSHS SHRT S&P5	Equity ETFs	74347R503	3,953	99,690	PRN		SOLE	0	44,757	0	54,933
ISHARES SHORT TREASURY BOND	Fixed Income ETF	464288679	5,081	46,000	PRN		SOLE	0	0	0	46,000
SVB FINANCIAL GROUP	Common Stocks	78486Q101	453	4,758	SH		SOLE	0	4,758	0	0
SOUTHERN CO	Common Stocks	842587107	10,962	204,394	SH		SOLE	0	103,344	0	101,050
SPDR S&P 500 ETF TRUST	Equity ETFs	78462F103	205	980	PRN		SOLE	0	980	0	0
STERLING BANCORP	Common Stocks	85917A100	4,972	316,676	SH		SOLE	0	158,768	0	157,908
CONSTELLATION BRANDS INC-A	Common Stocks	21036P108	12,393	74,930	SH		SOLE	0	38,988	0	35,942
A T & T INC (NEW)	Common Stocks	00206R102	290	6,705	SH		SOLE	0	0	0	6,705
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	1,197	26,015	SH		SOLE	0	0	0	26,015
TOOTSIE ROLL INDUSTRIES, INC.	Common Stocks	890516107	8,473	219,900	SH		SOLE	0	113,393	0	106,507
TARGA RESOURCES	Common Stocks	87612G101	1,112	26,383	SH		SOLE	0	0	0	26,383
VECTOR GROUP LTD.	Common Stocks	92240M108	11,714	522,473	SH		SOLE	0	267,986	0	254,487
INVESCO DYNAMIC CREDIT OPP	Fixed Income Closed-End Fund	46132R104	455	41,280	PRN		SOLE	0	37,000	0	4,280
VERIZON COMMUNICATIONS	Common Stocks	92343V104	11,398	204,120	SH		SOLE	0	87,439	0	116,681
WASHINGTON TRUST BANCORP	Common Stocks	940610108	5,309	139,995	SH		SOLE	0	67,182	0	72,813
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	2,104	41,740	SH		SOLE	0	0	0	41,740
WAL MART STORES INC	Common Stocks	931142103	818	11,200	SH		SOLE	0	200	0	11,000
WILLIAMS PARTNERS LP	Common Stocks	96949L105	676	19,503	SH		SOLE	0	0	0	19,503
EXXON MOBIL CORP	Common Stocks	30231G102	642	6,851	SH		SOLE	0	0	0	6,851
ZELTIQ AESTHETICS INC	Common Stocks	98933Q108	306	11,200	SH		SOLE	0	0	0	11,200