McGowan Group Asset 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
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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
ABERDEEN ASIA-PACIFIC INCOME FD INC COM	COM	003009107	25,120	5,014,059	SH		SOLE	N/A	5,014,059	0	0
ALLIANCEBERSTEIN GLOBAL HIGH INCOME FD INC	COM	01879R106	33,217	2,704,997	SH		SOLE	N/A	2,704,997	0	0
ALPINE GLOBAL PREMIER PPTYS FD COM SHS OF	COM SBI	02083A103	12,219	2,225,647	SH		SOLE	N/A	2,225,647	0	0
ALTRIA GROUP INC	COM	02209S103	915	13,262	SH		SOLE	N/A	13,262	0	0
AMAZON COM INC	COM	023135106	542	758	SH		SOLE	N/A	758	0	0
APPLE INC COM	COM	037833100	728	7,617	SH		SOLE	N/A	7,617	0	0
ARES CAP CORP COM	COM	04010L103	11,580	815,469	SH		SOLE	N/A	815,469	0	0
AT&T INC COM	COM	00206R102	1,482	34,288	SH		SOLE	N/A	34,288	0	0
BERKSHIRE HATHAWAY INC DEL CL B NEW	CL B NEW	084670702	313	2,165	SH		SOLE	N/A	2,165	0	0
BLACKROCK CREDIT ALLOCATION INCOME TR IV I	COM	092508100	10,554	810,632	SH		SOLE	N/A	810,632	0	0
BLACKSTONE MTG TR INC COM CL A	COM CL A	09257W100	8,275	299,062	SH		SOLE	N/A	299,062	0	0
BRISTOL MYERS SQUIBB CO COM	COM	110122108	266	3,622	SH		SOLE	N/A	3,622	0	0
CALAMOS GLOBAL DYNAMIC INCOME FD COM SHS B	COM	12811L107	4,062	578,857	SH		SOLE	N/A	578,857	0	0
CALAMOS STRATEGIC TOTAL RETURN FD COM SH B	COM SH BEN INT	128125101	3,536	357,928	SH		SOLE	N/A	357,928	0	0
CBRE CLARION GLOBAL REAL ESTATE INCOME FD	COM	12504G100	16,215	1,970,205	SH		SOLE	N/A	1,970,205	0	0
COHEN & STEERS INFRASTRUCTURE FD INC COM	COM	19248A109	16,827	785,566	SH		SOLE	N/A	785,566	0	0
COHEN & STEERS QUALITY INCOME RLTY FD INC	COM	19247L106	24,827	1,770,217	SH		SOLE	N/A	1,770,217	0	0
COHEN & STEERS REIT & PFD INCOME FD INC CO	COM	19247X100	34,114	1,660,869	SH		SOLE	N/A	1,660,869	0	0
DOUBLELINE INCOME SOLUTIONS FD	COM	258622109	34,652	1,888,385	SH		SOLE	N/A	1,888,385	0	0
EATON VANCE TAX ADVANTAGED DIVID INCOME FU	COM	27828G107	359	17,812	SH		SOLE	N/A	17,812	0	0
ELI LILLY & CO COM	COM	532457108	1,681	21,348	SH		SOLE	N/A	21,348	0	0
ENERGY TRANSFER PARTNERS L P UNIT LTD PART	UNIT LTD PARTN	29273R109	525	13,784	SH		SOLE	N/A	13,784	0	0
EXXON MOBIL CORP COM	COM	30231G102	1,092	11,652	SH		SOLE	N/A	11,652	0	0
FACEBOOK INC CL A	CL A	30303M102	334	2,922	SH		SOLE	N/A	2,922	0	0
FIDELITY CASH RESERVES FUND	MONEY MARKET	316067107	383	382,944	SH		SOLE	N/A	382,944	0	0
FIRST TR ENHANCED EQUITY INCOME FD COM	COM	337318109	292	22,244	SH		SOLE	N/A	22,244	0	0
FIRST TR INTER DURATION PRD & INCOME FD	COM	33718W103	22,808	966,847	SH		SOLE	N/A	966,847	0	0
FLAHERTY & CRUMRINE DYNAMIC PFD & INCOME	SHS	33848W106	4,807	198,222	SH		SOLE	N/A	198,222	0	0
GENERAL ELECTRIC CO COM	COM	369604103	284	9,013	SH		SOLE	N/A	9,013	0	0
GENERAL MILLS INC COM	COM	370334104	402	5,635	SH		SOLE	N/A	5,635	0	0
GENERAL MNY MKT FUND	MONEY MARKET	370990228	47,527	47,527,327	SH		SOLE	N/A	47,527,327	0	0
GILEAD SCIENCES INC	COM	375558103	386	4,624	SH		SOLE	N/A	4,624	0	0
GOLAR LNG PARTNERS LP PARTNERS	COM UNIT LPI	Y2745C102	13,777	751,634	SH		SOLE	N/A	751,634	0	0
JOHNSON & JOHNSON COM	COM	478160104	439	3,616	SH		SOLE	N/A	3,616	0	0
MEDICAL PROPERTIES TR INC	COM	58463J304	4,041	265,707	SH		SOLE	N/A	265,707	0	0
MERCK & CO INC NEW COM	COM	58933Y105	265	4,600	SH		SOLE	N/A	4,600	0	0
MICROSOFT CORP COM	COM	594918104	246	4,800	SH		SOLE	N/A	4,800	0	0
NUVEEN FLOATING RATE INCOME FUND	COM	67072T108	3,196	309,064	SH		SOLE	N/A	309,064	0	0
NUVEEN GLOBAL HIGH INCOME FD SHS	SHS	67075G103	5,799	402,960	SH		SOLE	N/A	402,960	0	0
NUVEEN MULTI STRATEGY & INCOME GROWTH FD 2	COM SHS	67073D102	239	29,552	SH		SOLE	N/A	29,552	0	0
NUVEEN PFD INCOME	COM	67073B106	23,715	2,366,773	SH		SOLE	N/A	2,366,773	0	0
NUVEEN QUALITY PREFERRED INCOME	COM	67072C105	5,637	609,362	SH		SOLE	N/A	609,362	0	0
OGE ENERGY CORP	COM	670837103	355	10,834	SH		SOLE	N/A	10,834	0	0
PHILIP MORRIS INTL INC COM	COM	718172109	654	6,428	SH		SOLE	N/A	6,428	0	0
PIMCO DYNAMIC CREDIT INCOME FD COM SHS	COM SHS	72202D106	39,479	2,063,716	SH		SOLE	N/A	2,063,716	0	0
PROCTER & GAMBLE CO COM	COM	742718109	483	5,699	SH		SOLE	N/A	5,699	0	0
STARWOOD PPTY TR INC	COM	85571B105	6,550	316,141	SH		SOLE	N/A	316,141	0	0
TEXAS INSTRUMENTS INC	COM	882508104	3,002	47,915	SH		SOLE	N/A	47,915	0	0
TRIANGLE CAPITAL CORP	COM	895848109	10,682	551,206	SH		SOLE	N/A	551,206	0	0
VISA INC COM CL A	COM CL A	92826C839	528	7,115	SH		SOLE	N/A	7,115	0	0
VOYA GLOBAL EQUITY DIVID & PREM OPPTY FD	COM	92912T100	4,572	659,682	SH		SOLE	N/A	659,682	0	0
WESTERN ASSET GLOBAL CORP DEFINED OPPTNTY	COM	95790C107	913	53,592	SH		SOLE	N/A	53,592	0	0
HARNETT HEALTH SYS INC ADJ RATE HOSPITAL BD SER 2011A	CORPORATE BOND	41333PAA4	3,504	3,500,000	PRN		SOLE	N/A	3,500,000	0	0
ARIZONA ST HLTH FACS AUTH HLTH CARE FACS REVENUE BEATITUDES CAMPUS PROJ	MUNICIPAL BOND	04050DAJ1	4,808	4,800,000	PRN		SOLE	N/A	4,800,000	0	0
BAY CNTY FLA EDL FAC REV BAY HAVEN CHARTER ACADEMY	MUNICIPAL BOND	072222AJ1	1,687	1,560,000	PRN		SOLE	N/A	1,560,000	0	0
CALIFORNIA ST STWD COMMUNITY DEV AUTH EDU FAC REVENUE INDEPENDENCE PROJ	MUNICIPAL BOND	13079HAG6	7,018	6,865,000	PRN		SOLE	N/A	6,865,000	0	0
CAMERON TX EDU CORP REVENUE FAITH FAMILY ACADEMY - SERIES A	MUNICIPAL BOND	133582AN6	1,876	1,875,000	PRN		SOLE	N/A	1,875,000	0	0
CAP TR AGY FL PRITY FIRST MTG REV SILV CREEK ST AUG PJ-A 5.75% 01/01/50	MUNICIPAL BOND	14053PAA9	600	600,000	PRN		SOLE	N/A	600,000	0	0
CAP TR AGY FL PRITY FIRST MTG REV TXBL-SILV CRK ST AUG SER B-7% 01/01/35	MUNICIPAL BOND	14053PAB7	300	300,000	PRN		SOLE	N/A	300,000	0	0
CAPITAL TR AGY FLA REV 1ST MTG-SILVER CREEK ST. AUGUSTINE PROJ	MUNICIPAL BOND	14052WBV8	2,327	2,625,000	PRN		SOLE	N/A	2,625,000	0	0
CAPITAL TR AGY FLA REV TAXABLE 1ST MTG-SILVER CREEK ST. AUGUSTINE PROJ	MUNICIPAL BOND	14052WBX4	846	975,000	PRN		SOLE	N/A	975,000	0	0
COLORADO ST EDUCATION & CULTURAL FACS AUTH - ATLAS PREP CHARTER SCHOOL	MUNICIPAL BOND	19645RC25	1,466	1,425,000	PRN		SOLE	N/A	1,425,000	0	0
DUTCHESS CNTY NY INDL DEV AGY-ELANT FISHKILL	MUNICIPAL BOND	267041FP1	4,107	4,105,000	PRN		SOLE	N/A	4,105,000	0	0
FANNIN CNTY TX PUBLIC FAC CORP REVENUE TXBLE	MUNICIPAL BOND	307149AM6	2,580	2,500,000	PRN		SOLE	N/A	2,500,000	0	0
FANNIN CNTY TX PUBLIC FAC CORP REVENUE TXBLE-REF	MUNICIPAL BOND	307149AN4	666	650,000	PRN		SOLE	N/A	650,000	0	0
FL CHARTER SCHOOL REVENUE RIVER CITY EDU SVCS INC PROJ- SER A	MUNICIPAL BOND	140539AC1	1,630	1,555,000	PRN		SOLE	N/A	1,555,000	0	0
FL CHARTER SCHOOL REVENUE RIVER CITY EDU SVCS INC PROJ-SER A	MUNICIPAL BOND	140539AB3	649	620,000	PRN		SOLE	N/A	620,000	0	0
FL CHARTER SCHOOL REVENUE TAXABLE RIVER CITY EDY SVCS INC PROJ -SER B	MUNICIPAL BOND	140539AD9	809	810,000	PRN		SOLE	N/A	810,000	0	0
FLORIDA DEV RENAISSANCE CHARTER SCH INC PROJS-SER A 6.125% 06/15/46	MUNICIPAL BOND	34061UBV9	1,045	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
GREATER PHILADELPHIA HEALTH ACTION INC-SERIES B	MUNICIPAL BOND	71781PBN9	7,578	7,500,000	PRN		SOLE	N/A	7,500,000	0	0
GREATER PHILADELPHIA HEALTH ACTION INC-SERIES B TAXABLE	MUNICIPAL BOND	71781PBM1	2,569	2,525,000	PRN		SOLE	N/A	2,525,000	0	0
HUDSON CNTY NJ IMPT AUTH REV TAXABLE	MUNICIPAL BOND	44372RCY2	1,316	1,225,000	PRN		SOLE	N/A	1,225,000	0	0
IRVING TX HOTEL OCCUPANCY TAX REV TXBL SER A	MUNICIPAL BOND	463805BQ3	2,038	1,875,000	PRN		SOLE	N/A	1,875,000	0	0
LA VERNIA TX HIGHER EDU FIN CORP REVENUE SOUTHWEST WINNERS FNDTN INC - A	MUNICIPAL BOND	505237AH0	1,816	1,815,000	PRN		SOLE	N/A	1,815,000	0	0
LOUISIANA ST LOCAL GOVT ENVIRONMENTAL FACS & COMMMNTY DEV AUTH REF-SER A	MUNICIPAL BOND	546282H80	1,215	1,150,000	PRN		SOLE	N/A	1,150,000	0	0
MOUNT ORAB OH PORT AUTH AUTOMALL PROJECT - 6.750% TAXABLE 12/01/36	MUNICIPAL BOND	622266AA2	5,640	5,585,000	PRN		SOLE	N/A	5,585,000	0	0
NEW JERSEY ST TRANSPORTATION TRUST FUND AUTH PROGRAM - SERIES AA	MUNICIPAL BOND	646136R29	4,933	4,475,000	PRN		SOLE	N/A	4,475,000	0	0
OHIO CNTY W VA CNTY COMMN SPL DIST EXCISE TAX RE V TAXABLE-FORT HENRY	MUNICIPAL BOND	67732PAV0	1,767	1,620,000	PRN		SOLE	N/A	1,620,000	0	0
OHIO CNTY W VA CNTY COMMN SPL DIST EXCISE TAX REV RFDG-TAXABLE-SER A 5.0	MUNICIPAL BOND	67732PDB1	2,664	2,600,000	PRN		SOLE	N/A	2,600,000	0	0
OHIO CNTY WV CNTY COMMISSIN SPL DIST EXCISE TAX REVENUE	MUNICIPAL BOND	67732PCP1	733	700,000	PRN		SOLE	N/A	700,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE AMERICAN CHARTER SCH FDNT A	MUNICIPAL BOND	72177MJP3	5,871	5,875,000	PRN		SOLE	N/A	5,875,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE GRIFFIN FNDTN PROJ SER A	MUNICIPAL BOND	72177MJQ1	4,854	4,845,000	PRN		SOLE	N/A	4,845,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE GRIFFIN FNDTN PROJ SER B	MUNICIPAL BOND	72177MJR9	721	720,000	PRN		SOLE	N/A	720,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE ODYSSEY PREP	MUNICIPAL BOND	72177PAZ3	2,030	2,000,000	PRN		SOLE	N/A	2,000,000	0	0
PRAIRIELAND DETENTION CENTER PROJ - PUB FAC CORP TEXAS PROJ REV TAXABLE	MUNICIPAL BOND	73972CAN4	6,458	6,380,000	PRN		SOLE	N/A	6,380,000	0	0
PUBLIC FIN AITH WIS ED REV TRIAD EDUCATION SERVICES INC-TXBL SER B	MUNICIPAL BOND	74442EAY6	462	460,000	PRN		SOLE	N/A	460,000	0	0
PUBLIC FIN AUTH WI REVENUE 1ST MTGE-VISTA GRANDE VILLA PROJ-SER A	MUNICIPAL BOND	74442PBG9	904	875,000	PRN		SOLE	N/A	875,000	0	0
PUBLIC FIN AUTH WI REVENUE 1ST MTGE-VISTA GRANDE VILLA VILLA PROJ-SER B	MUNICIPAL BOND	74442PBS3	1,000	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
PUBLIC FIN AUTH WIS ED REV TAX-CORNERSTONE CHRTR ACADEMY 6.5% 2/1/26 DTD	MUNICIPAL BOND	74442EBL3	2,013	2,000,000	PRN		SOLE	N/A	2,000,000	0	0
PUBLIC FIN AUTH WIS ED REV TRIAD EDUCATION SERVICES INC	MUNICIPAL BOND	74442EAX8	1,919	1,850,000	PRN		SOLE	N/A	1,850,000	0	0
RED RIVER TX HLTH FAC DEV CORP FIRST MTGE REV PARKVIEW HOLLYBROOK	MUNICIPAL BOND	75687RAH5	2,257	3,225,000	PRN		SOLE	N/A	3,225,000	0	0
RED RIVER TX HLTH FAC DEV CORP FIRST MTGE REV TXBL PARKVIEW HOLLYBROOK	MUNICIPAL BOND	75687RAL6	4,050	5,785,000	PRN		SOLE	N/A	5,785,000	0	0
RIVERHEAD NY ECONOMIC JOB DEV CORP EDL REV RIVERHEAD CHARTER 7% 08/1/48	MUNICIPAL BOND	76876RAM3	966	1,080,000	PRN		SOLE	N/A	1,080,000	0	0
RIVERHEAD NY ECONOMIC JOB DEV CORP REV RIVERHEAD CHARTER 7.000% 08/01/43	MUNICIPAL BOND	76876RAL5	2,341	2,575,000	PRN		SOLE	N/A	2,575,000	0	0
RIVERHEAD NY IDA ECONOMIC JOB DEV CORP EDL REV TAXABLE 7.65% 08/01/34	MUNICIPAL BOND	76876RAN1	4,525	4,740,000	PRN		SOLE	N/A	4,740,000	0	0
RIVERHEAD NY INDL DEV AGY 6.5% 8/1/2033 TAX EXEMPT	MUNICIPAL BOND	76876RAK7	818	885,000	PRN		SOLE	N/A	885,000	0	0
SAN LUIS ARIZ FAC DEV CORP REV RFDG-TAXABLE-SR LIEN-SAN LUIS REGL 7.250%	MUNICIPAL BOND	79854SAS8	2,319	2,360,000	PRN		SOLE	N/A	2,360,000	0	0
TANGIPAHOA PARISH LA HOSP SVC DIST NO 1 HOSP REV TAXABLE-NORTH OAKS	MUNICIPAL BOND	875518EL2	756	690,000	PRN		SOLE	N/A	690,000	0	0
TULANE UNIV LA RFDG-TULANE UNIV-C 0.523% 02/15/36 B/E DTD 05/31/07 CLB	MUNICIPAL BOND	899062BQ5	851	950,000	PRN		SOLE	N/A	950,000	0	0
WARREN CNTY KY HOTEL TAX REV BUILD AMER BDS-DIRECT PMT	MUNICIPAL BOND	934866BF0	554	515,000	PRN		SOLE	N/A	515,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C 7.75% 6/1/32 TAXABLE REF BD	MUNICIPAL BOND	963131AA5	251	250,000	PRN		SOLE	N/A	250,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C TAXABLE REF BD	MUNICIPAL BOND	963131AM9	236	235,000	PRN		SOLE	N/A	235,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C TAXABLE REF BD	MUNICIPAL BOND	963131AL1	447	445,000	PRN		SOLE	N/A	445,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C TAXABLE REF BD	MUNICIPAL BOND	963131AQ0	1,130	1,125,000	PRN		SOLE	N/A	1,125,000	0	0