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

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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	49,787	10,753,101	SH		SOLE	N/A	10,753,101	0	0
ALLIANCEBERSTEIN GLOBAL HIGH INCOME FD INC	COM	01879R106	35,399	2,816,147	SH		SOLE	N/A	2,816,147	0	0
ALTRIA GROUP INC	COM	02209S103	888	13,130	SH		SOLE	N/A	13,130	0	0
AMAZON COM INC	COM	023135106	578	771	SH		SOLE	N/A	771	0	0
APPLE INC COM	COM	037833100	943	8,146	SH		SOLE	N/A	8,146	0	0
ARES CAP CORP COM	COM	04010L103	13,094	794,034	SH		SOLE	N/A	794,034	0	0
AT&T INC COM	COM	00206R102	1,347	31,663	SH		SOLE	N/A	31,663	0	0
BERKSHIRE HATHAWAY INC DEL CL B NEW	CL B NEW	084670702	322	1,977	SH		SOLE	N/A	1,977	0	0
BLACKROCK CREDIT ALLOCATION INCOME TR IV I	COM	092508100	11,461	883,683	SH		SOLE	N/A	883,683	0	0
BRISTOL MYERS SQUIBB CO COM	COM	110122108	212	3,622	SH		SOLE	N/A	3,622	0	0
CALAMOS GLOBAL DYNAMIC INCOME FD COM SHS B	COM	12811L107	3,948	566,444	SH		SOLE	N/A	566,444	0	0
CALAMOS STRATEGIC TOTAL RETURN FD COM SH B	COM SH BEN INT	128125101	3,508	341,614	SH		SOLE	N/A	341,614	0	0
COHEN & STEERS INFRASTRUCTURE FD INC COM	COM	19248A109	17,155	886,128	SH		SOLE	N/A	886,128	0	0
COHEN & STEERS REIT & PFD INCOME FD INC CO	COM	19247X100	31,156	1,629,814	SH		SOLE	N/A	1,629,814	0	0
DEERE & CO	COM	244199105	227	2,204	SH		SOLE	N/A	2,204	0	0
DOUBLELINE INCOME SOLUTIONS FD	COM	258622109	37,235	1,960,753	SH		SOLE	N/A	1,960,753	0	0
EATON VANCE TAX ADVANTAGED DIVID INCOME FU	COM	27828G107	366	17,816	SH		SOLE	N/A	17,816	0	0
ELI LILLY & CO COM	COM	532457108	1,570	21,348	SH		SOLE	N/A	21,348	0	0
ENERGY TRANSFER PARTNERS L P UNIT LTD PART	UNIT LTD PARTN	29273R109	484	13,507	SH		SOLE	N/A	13,507	0	0
EXXON MOBIL CORP COM	COM	30231G102	1,052	11,653	SH		SOLE	N/A	11,653	0	0
FACEBOOK INC CL A	CL A	30303M102	334	2,907	SH		SOLE	N/A	2,907	0	0
FIRST TR ENHANCED EQUITY INCOME FD COM	COM	337318109	301	22,244	SH		SOLE	N/A	22,244	0	0
GENERAL ELECTRIC CO COM	COM	369604103	288	9,104	SH		SOLE	N/A	9,104	0	0
GENERAL MILLS INC COM	COM	370334104	348	5,635	SH		SOLE	N/A	5,635	0	0
GENERAL MNY MKT FUND	MONEY MARKET	370990228	42,163	42,163,069	SH		SOLE	N/A	42,163,069	0	0
GOLAR LNG PARTNERS LP PARTNERS	COM UNIT LPI	Y2745C102	18,216	757,757	SH		SOLE	N/A	757,757	0	0
INFORMATION SERVICES GRP	COM	45675Y104	229	62,843	SH		SOLE	N/A	62,843	0	0
INVESCO VAN KAMPEN DYNAMIC CR OPP FD COM	COM	46132R104	2,326	189,088	SH		SOLE	N/A	189,088	0	0
JOHNSON & JOHNSON COM	COM	478160104	385	3,339	SH		SOLE	N/A	3,339	0	0
KBS REAL ESTATE INVT TR INC COM	COM	481990901	292	80,000	SH		SOLE	N/A	80,000	0	0
MERCK & CO INC NEW COM	COM	58933Y105	271	4,606	SH		SOLE	N/A	4,606	0	0
MICROSOFT CORP COM	COM	594918104	308	4,964	SH		SOLE	N/A	4,964	0	0
NUVEEN GLOBAL HIGH INCOME FD SHS	SHS	67075G103	10,615	663,837	SH		SOLE	N/A	663,837	0	0
NUVEEN MULTI STRATEGY & INCOME GROWTH FD 2	COM SHS	67073D102	259	29,277	SH		SOLE	N/A	29,277	0	0
NUVEEN PFD INCOME	COM	67073B106	14,778	1,501,819	SH		SOLE	N/A	1,501,819	0	0
OGE ENERGY CORP	COM	670837103	362	10,834	SH		SOLE	N/A	10,834	0	0
PHILIP MORRIS INTL INC COM	COM	718172109	575	6,282	SH		SOLE	N/A	6,282	0	0
PIMCO DYNAMIC CREDIT INCOME FD COM SHS	COM SHS	72202D106	43,089	2,131,019	SH		SOLE	N/A	2,131,019	0	0
PROCTER & GAMBLE CO COM	COM	742718109	474	5,632	SH		SOLE	N/A	5,632	0	0
TEXAS INSTRUMENTS INC	COM	882508104	3,477	47,652	SH		SOLE	N/A	47,652	0	0
TRIANGLE CAPITAL CORP	COM	895848109	9,836	536,325	SH		SOLE	N/A	536,325	0	0
VISA INC COM CL A	COM CL A	92826C839	545	6,985	SH		SOLE	N/A	6,985	0	0
WESTERN ASSET EMERGING MKTS DEBT FD INC	COM	95766A101	45,817	3,114,676	SH		SOLE	N/A	3,114,676	0	0
WESTERN ASSET GLOBAL CORP DEFINED OPPTNTY	COM	95790C107	909	53,102	SH		SOLE	N/A	53,102	0	0
HARNETT HEALTH SYS INC ADJ RATE HOSPITAL BD SER 2011A	CORPORATE BOND	41333PAA4	3,428	3,425,000	PRN		SOLE	N/A	3,425,000	0	0
ARIZONA ST HLTH FACS AUTH HLTH CARE FACS REVENUE BEATITUDES CAMPUS PROJ	MUNICIPAL BOND	04050DAJ1	4,559	4,700,000	PRN		SOLE	N/A	4,700,000	0	0
BAY CNTY FLA EDL FAC REV BAY HAVEN CHARTER ACADEMY	MUNICIPAL BOND	072222AJ1	1,510	1,535,000	PRN		SOLE	N/A	1,535,000	0	0
CALIFORNIA ST STWD COMMUNITY DEV AUTH EDU FAC REVENUE INDEPENDENCE PROJ	MUNICIPAL BOND	13079HAG6	5,474	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	1,794	1,825,000	PRN		SOLE	N/A	1,825,000	0	0
CAP TR AGY FL PRITY FIRST MTG REV SILV CREEK ST AUG PJ 01/01/50	MUNICIPAL BOND	14053PAA9	541	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 01/01/35	MUNICIPAL BOND	14053PAB7	292	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	2,106	2,600,000	PRN		SOLE	N/A	2,600,000	0	0
CAPITAL TR AGY FLA REV TAXABLE 1ST MTG-SILVER CREEK ST. AUGUSTINE PROJ	MUNICIPAL BOND	14052WBX4	849	975,000	PRN		SOLE	N/A	975,000	0	0
COLORADO ST EDUCATION & CULTURAL FACS AUTH - ATLAS PREP CHARTER SCHOOL	MUNICIPAL BOND	19645RC25	1,330	1,425,000	PRN		SOLE	N/A	1,425,000	0	0
DUTCHESS CNTY NY INDL DEV AGY-ELANT FISHKILL	MUNICIPAL BOND	267041FP1	4,003	4,055,000	PRN		SOLE	N/A	4,055,000	0	0
FANNIN CNTY TX PUBLIC FAC CORP REVENUE TXBLE	MUNICIPAL BOND	307149AM6	1,496	2,450,000	PRN		SOLE	N/A	2,450,000	0	0
FANNIN CNTY TX PUBLIC FAC CORP REVENUE TXBLE-REF	MUNICIPAL BOND	307149AN4	397	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	1,513	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	606	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	795	810,000	PRN		SOLE	N/A	810,000	0	0
FLORIDA DEV RENAISSANCE CHARTER SCH INC PROJS-SER A 06/15/46	MUNICIPAL BOND	34061UBV9	1,000	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
HUDSON CNTY NJ IMPT AUTH REV TAXABLE	MUNICIPAL BOND	44372RCY2	1,267	1,225,000	PRN		SOLE	N/A	1,225,000	0	0
IRVING TX HOTEL OCCUPANCY TAX REV TXBL SER A	MUNICIPAL BOND	463805BQ3	1,996	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	1,717	1,790,000	PRN		SOLE	N/A	1,790,000	0	0
MOUNT ORAB OH PORT AUTH AUTOMALL PROJECT TAXABLE 12/01/36	MUNICIPAL BOND	622266AA2	5,505	5,535,000	PRN		SOLE	N/A	5,535,000	0	0
OHIO CNTY W VA CNTY COMMN SPL DIST EXCISE TAX REV RFDG-TAXABLE-SER A 5.0	MUNICIPAL BOND	67732PDB1	2,589	2,550,000	PRN		SOLE	N/A	2,550,000	0	0
OHIO CNTY WV CNTY COMMISSIN SPL DIST EXCISE TAX REVENUE	MUNICIPAL BOND	67732PCP1	730	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	5,161	5,725,000	PRN		SOLE	N/A	5,725,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE GRIFFIN FNDTN PROJ SER A	MUNICIPAL BOND	72177MJQ1	4,381	4,745,000	PRN		SOLE	N/A	4,745,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE GRIFFIN FNDTN PROJ SER B	MUNICIPAL BOND	72177MJR9	646	700,000	PRN		SOLE	N/A	700,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE ODYSSEY PREP	MUNICIPAL BOND	72177PAZ3	1,935	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	5,242	6,275,000	PRN		SOLE	N/A	6,275,000	0	0
PUBLIC FIN AITH WIS ED REV TRIAD EDUCATION SERVICES INC-TXBL SER B	MUNICIPAL BOND	74442EAY6	396	400,000	PRN		SOLE	N/A	400,000	0	0
PUBLIC FIN AUTH WIS ED REV TAX-CORNERSTONE CHRTR ACADEMY 2/1/26 DTD	MUNICIPAL BOND	74442EBL3	1,898	1,950,000	PRN		SOLE	N/A	1,950,000	0	0
PUBLIC FIN AUTH WIS ED REV TRIAD EDUCATION SERVICES INC	MUNICIPAL BOND	74442EAX8	1,744	1,850,000	PRN		SOLE	N/A	1,850,000	0	0
RIVERHEAD NY IDA ECONOMIC JOB DEV CORP EDL REV TAXABLE 08/01/34	MUNICIPAL BOND	76876RAN1	3,975	4,475,000	PRN		SOLE	N/A	4,475,000	0	0
SAN LUIS ARIZ FAC DEV CORP REV RFDG-TAXABLE-SR LIEN-SAN LUIS	MUNICIPAL BOND	79854SAS8	916	2,285,000	PRN		SOLE	N/A	2,285,000	0	0
TANGIPAHOA PARISH LA HOSP SVC DIST NO 1 HOSP REV TAXABLE-NORTH OAKS	MUNICIPAL BOND	875518EL2	736	690,000	PRN		SOLE	N/A	690,000	0	0
TULANE UNIV LA RFDG-TULANE UNIV-C 02/15/36 B/E DTD 05/31/07 CLB	MUNICIPAL BOND	899062BQ5	859	950,000	PRN		SOLE	N/A	950,000	0	0
WARREN CNTY KY HOTEL TAX REV BUILD AMER BDS-DIRECT PMT	MUNICIPAL BOND	934866BF0	507	475,000	PRN		SOLE	N/A	475,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C 6/1/32 TAXABLE REF BD	MUNICIPAL BOND	963131AA5	250	250,000	PRN		SOLE	N/A	250,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C TAXABLE REF BD	MUNICIPAL BOND	963131AM9	235	235,000	PRN		SOLE	N/A	235,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C TAXABLE REF BD	MUNICIPAL BOND	963131AL1	445	445,000	PRN		SOLE	N/A	445,000	0	0
WHEELING JESUIT UNIV INC WV SER 2006-C TAXABLE REF BD	MUNICIPAL BOND	963131AQ0	1,125	1,125,000	PRN		SOLE	N/A	1,125,000	0	0