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	3,387	3,465,000	PRN		SOLE	0	1,065,000	0	2,400,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	12,792	13,342,000	PRN		SOLE	0	3,485,000	0	9,857,000
APPLE INC.	Common Stocks	037833100	1,166	10,312	SH		SOLE	0	45	0	10,267
ABBVIE INC	Common Stocks	00287Y109	1,574	24,962	SH		SOLE	0	22,034	0	2,928
ABBOTT LABS	Common Stocks	002824100	937	22,165	SH		SOLE	0	20,005	0	2,160
AMERICAN MIDSTREAM PARTNERS LLP	Common Stocks	02752P100	241	16,350	SH		SOLE	0	0	0	16,350
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETN	46625H365	1,063	33,737	PRN		SOLE	0	20,217	0	13,520
AMERIPRISE FINL INC	Common Stocks	03076C106	239	2,400	SH		SOLE	0	0	0	2,400
AMAZON COM INC	Common Stocks	023135106	3,779	4,513	SH		SOLE	0	117	0	4,396
ANWORTH MORTGAGE ASSET CP COM	Common Stocks	037347101	645	131,146	SH		SOLE	0	27,100	0	104,046
ANTERO RESOURCES CORP.	Common Stocks	03674X106	352	13,056	SH		SOLE	0	0	0	13,056
AMERICAN EXPRESS CO	Common Stocks	025816109	788	12,300	SH		SOLE	0	0	0	12,300
BOOZ ALLEN HAMILTON HOLDINGS	Common Stocks	099502106	5,999	189,772	SH		SOLE	0	98,131	0	91,641
BANC OF CALIFORNIA	Common Stocks	05990K106	350	20,024	SH		SOLE	0	20,024	0	0
BCE INC	Common Stocks	05534B760	332	7,200	SH		SOLE	0	7,200	0	0
Blackrock Inc.	Common Stocks	09247X101	308	850	SH		SOLE	0	0	0	850
BANK OF MONTREAL	Common Stocks	063671101	567	8,649	SH		SOLE	0	8,649	0	0
BROADRIDGE FINANCIAL SOLUTIONS	Common Stocks	11133T103	13,499	199,130	SH		SOLE	0	96,000	0	103,130
BOVIE MEDICAL CORP.	Common Stocks	10211F100	130	25,000	SH		SOLE	0	0	0	25,000
CELGENE CORP	Common Stocks	151020104	732	7,005	SH		SOLE	0	0	0	7,005
COMCAST CORP NEW CL A	Common Stocks	20030N101	284	4,276	SH		SOLE	0	4,216	0	60
CME GROUP INC	Common Stocks	12572Q105	6,898	66,001	SH		SOLE	0	37,874	0	28,127
COACH INC	Common Stocks	189754104	995	27,204	SH		SOLE	0	27,204	0	0
COSTCO WHOLESALE CORP	Common Stocks	22160K105	305	2,000	SH		SOLE	0	0	0	2,000
CISCO SYS INC	Common Stocks	17275R102	1,364	43,016	SH		SOLE	0	41,755	0	1,261
WALT DISNEY COMPANY	Common Stocks	254687106	1,267	13,646	SH		SOLE	0	341	0	13,305
Digital Reality Trust Inc.	Common Stocks	253868103	1,056	10,872	SH		SOLE	0	10,872	0	0
DOLLAR TREE INC	Common Stocks	256746108	789	10,000	SH		SOLE	0	0	0	10,000
EDAP TMS SA-ADR	Common Stocks	268311107	160	55,000	SH		SOLE	0	0	0	55,000
ENTERPRISE FINANCIAL SERVICES CORP	Common Stocks	293712105	272	8,705	SH		SOLE	0	8,705	0	0
SYNERON MEDICAL LTD	Common Stocks	M87245102	115	16,000	SH		SOLE	0	0	0	16,000
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	18,645	674,817	SH		SOLE	0	262,665	0	412,152
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	470	28,000	SH		SOLE	0	0	0	28,000
EATON CORP PLC	Common Stocks	G29183103	711	10,824	SH		SOLE	0	10,824	0	0
ENERGY TRANSFER PARTNERS L.P.	Common Stocks	29273R109	250	6,752	SH		SOLE	0	0	0	6,752
EV ENERGY PARTNERS LP	Common Stocks	26926V107	32	13,500	SH		SOLE	0	0	0	13,500
ISHARES INC MSCI BRAZIL	Equity ETFs	464286400	480	14,225	PRN		SOLE	0	0	0	14,225
FACEBOOK INC	Common Stocks	30303M102	952	7,420	SH		SOLE	0	40	0	7,380
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	216	5,610	SH		SOLE	0	5,610	0	0
FOUR CORNERS PROPERTY TRUST	Common Stocks	35086T109	7,436	348,640	SH		SOLE	0	177,991	0	170,649
FIRST OF LONG ISLAND CORP	Common Stocks	320734106	7,080	213,573	SH		SOLE	0	112,028	0	101,545
GENERAL ELEC CO	Common Stocks	369604103	1,161	39,210	SH		SOLE	0	37,545	0	1,665
GENESIS ENERGY LP	Common Stocks	371927104	1,138	29,982	SH		SOLE	0	24,982	0	5,000
GILEAD Sciences	Common Stocks	375558103	253	3,200	SH		SOLE	0	3,200	0	0
ALPHABET INC -CL C	Common Stocks	02079K107	4,371	5,623	SH		SOLE	0	115	0	5,508
ALPHABET INC -CL A	Common Stocks	02079K305	626	779	SH		SOLE	0	117	0	662
GRAMERCY PROPERTY TRUST	Common Stocks	385002100	17,388	1,803,767	SH		SOLE	0	858,913	0	944,854
GLAXO SMITHKLINE PLC ADR	Common Stocks	37733W105	1,134	26,286	SH		SOLE	0	26,286	0	0
iShares INT. GOVT/CREDIT BOND ETF	Fixed Income ETF	464288612	25,344	224,601	PRN		SOLE	0	135,338	0	89,263
HANCOCK HOLDING CO	Common Stocks	410120109	242	7,465	SH		SOLE	0	7,465	0	0
HOWARD BANCORP	Common Stocks	442496105	2,623	198,565	SH		SOLE	0	0	0	198,565
HOME DEPOT INC	Common Stocks	437076102	278	2,162	SH		SOLE	0	290	0	1,872
HILTON WORLDWIDE HOLDINGS INC.	Common Stocks	43300A104	206	9,000	SH		SOLE	0	0	0	9,000
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12	Preferred Stock	404280604	2,924	114,008	PRN		SOLE	0	62,344	0	51,664
HERITAGE COMMERCE CORP	Common Stocks	426927109	301	27,540	SH		SOLE	0	27,540	0	0
I B M	Common Stocks	459200101	986	6,207	SH		SOLE	0	4,929	0	1,278
ISHARES 7-10 YR TREASURY BD ETF	Fixed Income ETF	464287440	7,896	70,577	PRN		SOLE	0	34,561	0	36,016
INDEPENDENCE REALTY TRUST	Common Stocks	45378A106	8,125	902,732	SH		SOLE	0	486,367	0	416,365
PRUDENTIAL ST DUR HY FUND	Fixed Income Closed-End Fund	74442F107	12,440	777,964	PRN		SOLE	0	412,594	0	365,370
Ishares Russell 1000 Growth ETF	Equity ETFs	464287614	215	2,065	PRN		SOLE	0	2,065	0	0
ISHARES U.S. FINANCIAL SERVICES ETF	Equity ETFs	464287770	336	3,825	PRN		SOLE	0	0	0	3,825
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	10,770	445,400	PRN		SOLE	0	238,350	0	207,050
JOHNSON & JOHNSON	Common Stocks	478160104	2,615	22,136	SH		SOLE	0	12,907	0	9,229
NUVEEN CREDIT STRAT FUND	Fixed Income Closed-End Fund	67073D102	2,267	267,365	PRN		SOLE	0	132,250	0	135,115
KEYCORP	Common Stocks	493267108	11,632	955,780	SH		SOLE	0	491,631	0	464,149
KINDER MORGAN INC	Common Stocks	49456B101	249	10,765	SH		SOLE	0	0	0	10,765
DIREXION INSIDER	Equity ETFs	25459Y769	312	4,200	PRN		SOLE	0	0	0	4,200
LAMAR ADVERTISING CO-A	Common Stocks	512816109	795	12,177	SH		SOLE	0	12,177	0	0
L BRANDS INC	Common Stocks	501797104	691	9,761	SH		SOLE	0	9,761	0	0
SPARK NETWORKS INC COM	Common Stocks	84651P100	16	10,000	SH		SOLE	0	0	0	10,000
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	25,037	203,258	PRN		SOLE	0	142,517	0	60,741
LYONDELLBASELL INDU-CL A	Common Stocks	N53745100	978	12,128	SH		SOLE	0	12,128	0	0
MICROCHIP TECHNOLOGY INC	Common Stocks	595017104	907	14,593	SH		SOLE	0	14,593	0	0
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	668	15,217	SH		SOLE	0	54	0	15,163
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	16,115	227,806	SH		SOLE	0	89,419	0	138,387
MPLX LP	Common Stocks	55336V100	1,472	43,470	SH		SOLE	0	36,385	0	7,085
MERCK & COMPANY	Common Stocks	58933Y105	1,481	23,736	SH		SOLE	0	22,684	0	1,052
MAINSOURCE FINANCIAL GROUP, INC.	Common Stocks	56062Y102	5,730	229,679	SH		SOLE	0	94,259	0	135,420
Nuveen Dividend Advantage Municipal Income Fund	Fixed Income Closed-End Fund	67071L106	321	20,000	PRN		SOLE	0	0	0	20,000
NOVARTIS AG SPONSORED ADR	Common Stocks	66987V109	1,110	14,056	SH		SOLE	0	9,181	0	4,875
OMEGA HEALTHCARE INVESTORS	Common Stocks	681936100	343	9,664	SH		SOLE	0	9,664	0	0
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	2,299	73,185	SH		SOLE	0	3,900	0	69,285
PACWEST BANCORP	Common Stocks	695263103	433	10,099	SH		SOLE	0	10,099	0	0
PFIZER INC	Common Stocks	717081103	1,288	38,038	SH		SOLE	0	37,016	0	1,022
ISHARES S&P PREFERRED STOCK INDEX FUND	Preferred Stock	464288687	1,544	39,076	PRN		SOLE	0	0	0	39,076
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	1,764	19,650	SH		SOLE	0	16,429	0	3,221
PINNACLE FINANCIAL PARTNERS	Common Stocks	72346Q104	249	4,600	SH		SOLE	0	4,600	0	0
QUALCOMM INC	Common Stocks	747525103	1,651	24,104	SH		SOLE	0	23,774	0	330
RITE AID CORP	Common Stocks	767754104	654	85,000	SH		SOLE	0	0	0	85,000
REPUBLIC SERVICES, INC.	Common Stocks	760759100	11,802	233,943	SH		SOLE	0	129,020	0	104,923
REDWOOD TRUST INC	Common Stocks	758075402	11,688	825,430	SH		SOLE	0	446,217	0	379,213
SIGNATURE BANK	Common Stocks	82669G104	261	2,206	SH		SOLE	0	2,206	0	0
STARBUCKS CORP	Common Stocks	855244109	299	5,520	SH		SOLE	0	0	0	5,520
SPECTRA ENERGY CORP	Common Stocks	847560109	1,184	27,688	SH		SOLE	0	27,688	0	0
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	302	5,825	SH		SOLE	0	5,825	0	0
PROSHARES TR PSHS SHRT S&P5	Equity ETFs	74347B425	4,245	111,517	PRN		SOLE	0	50,841	0	60,676
ISHARES SHORT TREASURY BOND	Fixed Income ETF	464288679	5,080	46,000	PRN		SOLE	0	0	0	46,000
SVB FINANCIAL GROUP	Common Stocks	78486Q101	526	4,758	SH		SOLE	0	4,758	0	0
SOUTHERN CO	Common Stocks	842587107	11,177	217,870	SH		SOLE	0	116,123	0	101,747
SPECIAL OPPORTUNITIES FUND	Equity Closed-End Fund	84741T104	1,220	81,800	PRN		SOLE	0	13,800	0	68,000
SPDR S&P 500 ETF TRUST	Equity ETFs	78462F103	302	1,398	PRN		SOLE	0	1,398	0	0
CONSTELLATION BRANDS INC-A	Common Stocks	21036P108	13,503	81,103	SH		SOLE	0	42,783	0	38,320
A T & T INC (NEW)	Common Stocks	00206R102	1,507	37,118	SH		SOLE	0	30,413	0	6,705
TORONTO-DOMINION BANK	Common Stocks	891160509	802	18,072	SH		SOLE	0	18,072	0	0
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	859	17,815	SH		SOLE	0	0	0	17,815
TOOTSIE ROLL INDUSTRIES, INC.	Common Stocks	890516107	8,498	230,738	SH		SOLE	0	124,414	0	106,324
TARGA RESOURCES	Common Stocks	87612G101	1,083	22,043	SH		SOLE	0	0	0	22,043
TRANSENTERIX INC	Common Stocks	89366M201	21	12,500	SH		SOLE	0	0	0	12,500
UNITED CONTINENTAL HOLDINGS INC.	Common Stocks	910047109	228	4,350	SH		SOLE	0	0	0	4,350
DOMTAR CORP	Common Stocks	257559203	797	21,454	SH		SOLE	0	21,454	0	0
UNITED PARCEL SVC INC CL B	Common Stocks	911312106	724	6,620	SH		SOLE	0	6,620	0	0
VECTOR GROUP LTD.	Common Stocks	92240M108	12,583	584,443	SH		SOLE	0	315,736	0	268,707
VODAFONE GROUP PLC NEW SPONS ADR NEW	Common Stocks	92857W308	1,158	39,719	SH		SOLE	0	39,719	0	0
INVESCO DYNAMIC CREDIT OPP	Fixed Income Closed-End Fund	46132R104	13,278	1,129,109	PRN		SOLE	0	567,853	0	561,256
VERIZON COMMUNICATIONS	Common Stocks	92343V104	12,562	241,664	SH		SOLE	0	124,374	0	117,290
WASHINGTON TRUST BANCORP	Common Stocks	940610108	1,262	31,374	SH		SOLE	0	4,739	0	26,635
WESTERN DIGITAL CORP	Common Stocks	958102105	946	16,187	SH		SOLE	0	16,187	0	0
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	2,298	41,740	SH		SOLE	0	0	0	41,740
WELLS FARGO & CO NEW	Common Stocks	949746101	642	14,496	SH		SOLE	0	14,496	0	0
WAL MART STORES INC	Common Stocks	931142103	433	6,000	SH		SOLE	0	0	0	6,000
WILLIAMS PARTNERS LP	Common Stocks	96949L105	725	19,503	SH		SOLE	0	0	0	19,503
WEYERHAEUSER CO	Common Stocks	962166104	1,219	38,173	SH		SOLE	0	38,173	0	0
EXXON MOBIL CORP	Common Stocks	30231G102	758	8,688	SH		SOLE	0	1,837	0	6,851
ZELTIQ AESTHETICS INC	Common Stocks	98933Q108	439	11,200	SH		SOLE	0	0	0	11,200