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	3,476	3,465,000	PRN		SOLE	0	1,065,000	0	2,400,000
HCI GROUP CONV. SR NT	Convertible Bonds	40416EAB9	11,561	11,715,000	PRN		SOLE	0	3,490,000	0	8,225,000
APPLE INC.	Common Stocks	037833100	2,917	18,926	SH		SOLE	0	5,727	0	13,199
ABBVIE INC	Common Stocks	00287Y109	414	4,660	SH		SOLE	0	0	0	4,660
ALLY FINANCIAL	Common Stocks	02005N100	324	13,350	SH		SOLE	0	13,350	0	0
ADVANCED MICRO DEVICES	Common Stocks	007903107	395	31,000	SH		SOLE	0	0	0	31,000
JPMORGAN CHASE & CO ALERIAN ML ETN	Equity ETFs	46625H365	2,160	76,527	PRN		SOLE	0	60,310	0	16,217
AMERIPRISE FINL INC	Common Stocks	03076C106	356	2,400	SH		SOLE	0	0	0	2,400
AMERICAN RIVER BANKSHRS	Common Stocks	029326105	226	16,355	SH		SOLE	0	16,355	0	0
AMAZON COM INC	Common Stocks	023135106	6,555	6,819	SH		SOLE	0	371	0	6,448
A.O. SMITH CORPORATION	Common Stocks	831865209	16,644	280,067	SH		SOLE	0	177,997	0	102,070
AMERICAN EXPRESS CO	Common Stocks	025816109	1,286	14,220	SH		SOLE	0	0	0	14,220
ALIBABA GROUP ADR	Common Stocks	01609W102	777	4,500	SH		SOLE	0	0	0	4,500
BANC OF CALIFORNIA	Common Stocks	05990K106	329	15,841	SH		SOLE	0	15,841	0	0
BLACKROCK INC.	Common Stocks	09247X101	380	850	SH		SOLE	0	850	0	0
BROADRIDGE FINANCIAL SOLUTIONS	Common Stocks	11133T103	19,817	245,203	SH		SOLE	0	155,556	0	89,647
BLUEROCK RESIDENTIAL GROWTH	Common Stocks	09627J102	564	50,965	SH		SOLE	0	0	0	50,965
BERKSHIRE HATHAWAY INC DEL CL B NEW	Common Stocks	084670702	735	4,010	SH		SOLE	0	0	0	4,010
BLACKSTONE GROUP LP	Common Stocks	09253U108	416	12,480	SH		SOLE	0	0	0	12,480
CITIGROUP INC	Common Stocks	172967424	255	3,500	SH		SOLE	0	0	0	3,500
CELGENE CORP	Common Stocks	151020104	954	6,545	SH		SOLE	0	0	0	6,545
CME GROUP INC	Common Stocks	12572Q105	10,632	78,364	SH		SOLE	0	49,646	0	28,718
COSTCO WHOLESALE CORP	Common Stocks	22160K105	13,485	82,081	SH		SOLE	0	53,684	0	28,397
CISCO SYS INC	Common Stocks	17275R102	326	9,708	SH		SOLE	0	463	0	9,245
DR HORTON INC.	Common Stocks	23331A109	12,977	324,987	SH		SOLE	0	196,159	0	128,828
SPDR DJIA TRUST	Common Stocks	78467X109	677	3,025	SH		SOLE	0	3,025	0	0
WALT DISNEY COMPANY	Common Stocks	254687106	230	2,337	SH		SOLE	0	2,161	0	176
DYNEX CAP INC NEW	Common Stocks	26817Q506	188	25,850	SH		SOLE	0	0	0	25,850
EDAP TMS SA-ADR	Common Stocks	268311107	247	83,000	SH		SOLE	0	0	0	83,000
EMAGIN CORPORATION	Common Stocks	29076N206	23	10,000	SH		SOLE	0	0	0	10,000
ENTERPRISE PRODS PARTNERS L COM UNIT	Common Stocks	293792107	16,788	643,970	SH		SOLE	0	327,559	0	316,411
ENERGY TRANSFER EQUITY L P UT LTD PTN	Common Stocks	29273V100	487	28,000	SH		SOLE	0	0	0	28,000
EV ENERGY PARTNERS LP	Common Stocks	26926V107	9	13,500	SH		SOLE	0	0	0	13,500
FACEBOOK INC	Common Stocks	30303M102	1,425	8,339	SH		SOLE	0	3,479	0	4,860
FCB FINANCIAL HOLDINGS	Common Stocks	30255G103	398	8,230	SH		SOLE	0	8,230	0	0
FOUR CORNERS PROPERTY TRUST	Common Stocks	35086T109	10,462	419,824	SH		SOLE	0	276,547	0	143,277
FIDELITY INDUSTRIALS ETF	Equity ETFs	316092709	311	8,515	PRN		SOLE	0	0	0	8,515
ISHARES FLOATING RATE BOND ETF	Fixed Income ETF	46429B655	8,623	169,275	PRN		SOLE	0	81,485	0	87,790
FIFTH STREET FINANCE CORP COM	Common Stocks	31678A103	13,535	2,474,369	SH		SOLE	0	1,710,918	0	763,451
FIDELITY CONS STAPLES ETF	Equity ETFs	316092303	295	9,100	PRN		SOLE	0	0	0	9,100
FIDELITY INFO TECH ETF	Equity ETFs	316092808	411	8,910	PRN		SOLE	0	0	0	8,910
GENERAL ELEC CO	Common Stocks	369604103	483	19,956	SH		SOLE	0	10,256	0	9,700
ALPHABET INC -CL C	Common Stocks	02079K107	5,470	5,703	SH		SOLE	0	2,060	0	3,643
ALPHABET INC -CL A	Common Stocks	02079K305	645	662	SH		SOLE	0	0	0	662
GRAMERCY PROPERTY TRUST	Common Stocks	385002308	16,804	555,490	SH		SOLE	0	362,211	0	193,279
GOLDMAN SACHS GROUP INC	Common Stocks	38141G104	236	993	SH		SOLE	0	143	0	850
ISHARES INT. GOVT/CREDIT BOND ETF	Fixed Income ETF	464288612	54,750	493,685	PRN		SOLE	0	381,987	0	111,698
HOWARD BANCORP	Common Stocks	442496105	4,023	192,465	SH		SOLE	0	0	0	192,465
HOME DEPOT INC	Common Stocks	437076102	306	1,872	SH		SOLE	0	1,500	0	372
HILTON WORLDWIDE HOLDINGS INC.	Common Stocks	43300A203	208	3,000	SH		SOLE	0	3,000	0	0
HARRIS CORP.	Common Stocks	413875105	16,817	127,714	SH		SOLE	0	84,496	0	43,218
HSBC HOLDINGS PLC SER A FC 12/21/12	Preferred Stock	404280604	1,982	75,108	PRN		SOLE	0	29,907	0	45,201
HERITAGE COMMERCE CORP	Common Stocks	426927109	263	18,465	SH		SOLE	0	18,465	0	0
PIMCO 0-5 YEAR H/Y CORP BOND	Fixed Income ETF	72201R783	278	2,738	PRN		SOLE	0	338	0	2,400
INTEL CORP	Common Stocks	458140100	263	6,900	SH		SOLE	0	0	0	6,900
PRUDENTIAL ST DUR HY FUND	Fixed Income Closed-End Fund	74442F107	773	50,634	PRN		SOLE	0	434	0	50,200
ISHARES US HOME CONSTRUCTION ETF	Equity ETFs	464288752	424	11,595	PRN		SOLE	0	0	0	11,595
ISHARES RUSSELL 1000 GROWTH ETF	Equity ETFs	464287614	244	1,955	PRN		SOLE	0	1,955	0	0
ISHARES TR RUSSELL 2000 ETF	Equity ETFs	464287655	938	6,330	PRN		SOLE	0	4,520	0	1,810
ISHARES RUSSELL MIDCAP	Equity ETFs	464287499	754	3,825	PRN		SOLE	0	3,825	0	0
ISHARES Russell Midcap Value	Equity ETFs	464287473	231	2,725	PRN		SOLE	0	0	0	2,725
ISHARES U.S. FINANCIAL SERVICES ETF	Equity ETFs	464287770	458	3,825	PRN		SOLE	0	3,825	0	0
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	Fixed Income Closed-End Fund	670735109	14,754	581,763	PRN		SOLE	0	380,426	0	201,337
JOHNSON & JOHNSON	Common Stocks	478160104	8,001	61,543	SH		SOLE	0	35,795	0	25,748
J P MORGAN CHASE & CO	Common Stocks	46625H100	20,152	210,996	SH		SOLE	0	132,062	0	78,934
NUVEEN CREDIT STRAT FUND	Fixed Income Closed-End Fund	67073D102	16,720	1,969,321	PRN		SOLE	0	1,133,261	0	836,060
KKR & Co LP	Common Stocks	48248M102	332	16,340	SH		SOLE	0	0	0	16,340
KINDER MORGAN INC	Common Stocks	49456B101	206	10,765	SH		SOLE	0	0	0	10,765
DIREXION INSIDER	Equity ETFs	25459Y769	349	8,400	PRN		SOLE	0	8,400	0	0
LENNOX INTERNATIONAL INC.	Common Stocks	526107107	11,107	62,063	SH		SOLE	0	40,039	0	22,024
DIREXION DAILY S&P BULL 1.25	Equity ETFs	25490K109	252	7,550	PRN		SOLE	0	0	0	7,550
ISHARES IBOXX INVESTMENT GRADE CORP BOND	Fixed Income ETF	464287242	1,374	11,333	PRN		SOLE	0	2,006	0	9,327
LONG ISLAND ICED TEA CORP	Common Stocks	54267E104	37	15,000	SH		SOLE	0	0	0	15,000
LEGACYTEXAS FINANCIAL GROUP	Common Stocks	52471Y106	263	6,595	SH		SOLE	0	6,595	0	0
MARRIOTT INTERNATIONAL INC.	Common Stocks	571903202	320	2,900	SH		SOLE	0	2,900	0	0
MCDONALDS CORP	Common Stocks	580135101	11,404	72,786	SH		SOLE	0	45,813	0	26,973
MONDELEZ INTERNATIONAL INC	Common Stocks	609207105	596	14,654	SH		SOLE	0	254	0	14,400
SPDR S&P MIDCAP ETF TRST	Equity ETFs	78467Y107	359	1,100	PRN		SOLE	0	0	0	1,100
MAGELLAN MIDSTREAM PARTNERS LP	Common Stocks	559080106	15,308	215,421	SH		SOLE	0	126,841	0	88,580
ALTRIA GROUP INC COM	Common Stocks	02209S103	432	6,810	SH		SOLE	0	2,317	0	4,493
MPLX LP	Common Stocks	55336V100	273	7,785	SH		SOLE	0	0	0	7,785
MERCK & COMPANY	Common Stocks	58933Y105	279	4,355	SH		SOLE	0	3,270	0	1,085
MAINSOURCE FINANCIAL GROUP, INC.	Common Stocks	56062Y102	16,539	461,211	SH		SOLE	0	287,799	0	173,412
MICROSOFT	Common Stocks	594918104	733	9,843	SH		SOLE	0	2,180	0	7,663
MIDSOUTH BANCORP INC	Common Stocks	598039105	366	30,375	SH		SOLE	0	30,375	0	0
MICRON TECHNOLOGY	Common Stocks	595112103	413	10,500	SH		SOLE	0	0	0	10,500
NUVEEN CAL ABC DIV ADV MUNI INC FUND	Fixed Income Closed-End Fund	67066Y105	224	15,000	PRN		SOLE	0	0	0	15,000
NORTHSTAR REALTY EUROPE CORP.	Common Stocks	66706L101	15,492	1,209,365	SH		SOLE	0	746,317	0	463,048
NATIONAL STORAGE AFFILIATES	Common Stocks	637870106	367	15,125	SH		SOLE	0	0	0	15,125
BANK OF NT BUTTERFIELD & SON	Common Stocks	G0772R208	27,015	737,304	SH		SOLE	0	457,000	0	280,304
NUVEEN DIVIDEND ADVANTAGE MUNICIPAL INCOME FUND	Fixed Income Closed-End Fund	67071L106	308	20,000	PRN		SOLE	0	0	0	20,000
FIDELITY NASDAQCOMP INDEX ETF	Equity ETFs	315912808	408	1,600	PRN		SOLE	0	0	0	1,600
OPUS BANK	Common Stocks	684000102	350	14,575	SH		SOLE	0	14,575	0	0
OVERSTOCK.COM	Common Stocks	690370101	266	8,940	SH		SOLE	0	0	0	8,940
BANK OF THE OZARKS	Common Stocks	063904106	413	8,603	SH		SOLE	0	8,603	0	0
PLAINS ALL AMERN PIPELINE L UNIT L P INT	Common Stocks	726503105	1,102	51,997	SH		SOLE	0	19,900	0	32,097
PIMCO DYNAMIC CREDIT INCOME	Fixed Income Closed-End Fund	72202D106	16,530	716,822	PRN		SOLE	0	431,483	0	285,339
PROCTER & GAMBLE COMPANY	Common Stocks	742718109	226	2,485	SH		SOLE	0	0	0	2,485
POWERSHARES QQQ TRUST UNIT SER 1	Equity ETFs	73935A104	3,396	23,350	PRN		SOLE	0	17,000	0	6,350
RITE AID CORP	Common Stocks	767754104	167	85,000	SH		SOLE	0	0	0	85,000
REPUBLIC SERVICES, INC.	Common Stocks	760759100	18,021	272,802	SH		SOLE	0	179,310	0	93,492
REDWOOD TRUST INC	Common Stocks	758075402	16,671	1,023,372	SH		SOLE	0	677,282	0	346,090
STARBUCKS CORP	Common Stocks	855244109	13,912	259,016	SH		SOLE	0	170,601	0	88,415
SERVISFIRST BANCSHARES INC	Common Stocks	81768T108	453	11,650	SH		SOLE	0	11,650	0	0
SHOPIFY INC	Common Stocks	82509L107	291	2,500	SH		SOLE	0	0	0	2,500
ISHARES SHORT TREASURY BOND	Fixed Income ETF	464288679	1,711	15,500	PRN		SOLE	0	0	0	15,500
SVB FINANCIAL GROUP	Common Stocks	78486Q101	890	4,758	SH		SOLE	0	4,758	0	0
SAN JUAN BASIN RTY TR UNIT BEN INT	Common Stocks	798241105	4,769	608,344	SH		SOLE	0	409,680	0	198,664
TALLGRASS ENERGY PARTNERS LP	Common Stocks	874697105	499	10,415	SH		SOLE	0	0	0	10,415
TERADYNE INC	Common Stocks	880770102	433	11,600	SH		SOLE	0	0	0	11,600
TARGA RESOURCES	Common Stocks	87612G101	1,034	21,853	SH		SOLE	0	3,162	0	18,691
UNITED CONTINENTAL HOLDINGS INC.	Common Stocks	910047109	265	4,350	SH		SOLE	0	4,350	0	0
VANGUARD INT-TERM CORP BOND ETF	Fixed Income ETF	92206C870	11,366	129,148	PRN		SOLE	0	83,231	0	45,917
VANGUARD S/T CORP BOND ETF	Fixed Income ETF	92206C409	17,979	224,374	PRN		SOLE	0	137,459	0	86,915
VANGUARD HEALTH CARE ETF	Equity ETFs	92204A504	408	2,680	PRN		SOLE	0	0	0	2,680
VANGUARD REIT ETF	Equity ETFs	922908553	1,607	19,335	PRN		SOLE	0	85	0	19,250
INVESCO DYNAMIC CREDIT OPP	Fixed Income Closed-End Fund	46132R104	19,601	1,644,399	PRN		SOLE	0	988,940	0	655,459
VANGUARD FTSE EMERGING MARKET ETF	Equity ETFs	922042858	407	9,350	PRN		SOLE	0	0	0	9,350
WEIBO CORP ADR	Common Stocks	948596101	391	3,950	SH		SOLE	0	0	0	3,950
WESTERN GAS PARTNERS LP UNIT LP IN	Common Stocks	958254104	1,743	33,990	SH		SOLE	0	0	0	33,990
WILLIAMS PARTNERS LP	Common Stocks	96949L105	506	13,003	SH		SOLE	0	0	0	13,003
MATERIALS SECTOR SPDR	Equity ETFs	81369Y100	525	9,240	PRN		SOLE	0	5,950	0	3,290
INDUSTRIAL SELECT SECT SPDR	Equity ETFs	81369Y704	1,512	21,290	PRN		SOLE	0	12,250	0	9,040
STAPLES SECTOR SPDR	Equity ETFs	81369Y308	633	11,720	PRN		SOLE	0	5,900	0	5,820
HEALTH CARE SECTOR SPDR	Equity ETFs	81369Y209	835	10,215	PRN		SOLE	0	4,165	0	6,050
CONSUMER DISCRETIONARY SELT	Equity ETFs	81369Y407	603	6,690	PRN		SOLE	0	0	0	6,690
EXXON MOBIL CORP	Common Stocks	30231G102	683	8,335	SH		SOLE	0	1,976	0	6,359