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
ABBVIE INC	COM	00287Y109	290	3,066	SH		SOLE	N/A	3,066	0	0
ABERDEEN ASIA-PACIFIC INCOME FD INC COM	COM	003009107	51,653	10,897,181	SH		SOLE	N/A	10,897,181	0	0
ADOBE SYS INC COM	COM	00724F101	293	1,354	SH		SOLE	N/A	1,354	0	0
ALLIANCEBERSTEIN GLOBAL HIGH INCOME FD INC	COM	01879R106	31,720	2,667,806	SH		SOLE	N/A	2,667,806	0	0
ALPS ETF TR ALERIAN MLP ETF	ALERIAN MLP	00162Q866	20,264	2,162,696	SH		SOLE	N/A	2,162,696	0	0
ALTRIA GROUP INC	COM	02209S103	788	12,649	SH		SOLE	N/A	12,649	0	0
AMAZON COM INC	COM	023135106	1,110	767	SH		SOLE	N/A	767	0	0
ANDEAVOR LOGISTICS LP COM	COM UNIT LP INT	03350F106	5,004	111,663	SH		SOLE	N/A	111,663	0	0
APHRIA INC COM	COM	03765K104	222	24,946	SH		SOLE	N/A	24,946	0	0
APPLE INC COM	COM	037833100	1,331	7,931	SH		SOLE	N/A	7,931	0	0
ARES CAP CORP COM	COM	04010L103	17,391	1,095,867	SH		SOLE	N/A	1,095,867	0	0
AT&T INC COM	COM	00206R102	1,032	28,947	SH		SOLE	N/A	28,947	0	0
BERKSHIRE HATHAWAY INC DEL CL B NEW	CL B NEW	084670702	447	2,241	SH		SOLE	N/A	2,241	0	0
BLACKROCK CORPORATE HIGH YIELD FD VI INC C	COM	09255P107	680	64,255	SH		SOLE	N/A	64,255	0	0
BLACKROCK CREDIT ALLOCATION INCOME TR IV I	COM	092508100	10,581	835,140	SH		SOLE	N/A	835,140	0	0
BRISTOL MYERS SQUIBB CO COM	COM	110122108	229	3,622	SH		SOLE	N/A	3,622	0	0
BUCKEYE PARTNERS L P UNIT LTD PARTNERSHIP	UNIT LTD PARTN	118230101	3,661	97,927	SH		SOLE	N/A	97,927	0	0
CANOPY GROWTH CORP SHS	SHS	138035100	908	34,778	SH		SOLE	N/A	34,778	0	0
CARLYLE GROUP L P COM UNITS	COM UTS LTD PTN	14309L102	8,115	380,076	SH		SOLE	N/A	380,076	0	0
CLEARBRIDGE AMERN ENERGY MLP FD INC COM	COM	184691103	11,694	1,717,204	SH		SOLE	N/A	1,717,204	0	0
CLEARBRIDGE ENERGY MLP FD INC COM	COM	184692101	25,554	2,029,716	SH		SOLE	N/A	2,029,716	0	0
CLEARBRIDGE ENERGY MLP OPPORTUNITY FD INC	COM	18469P100	8,576	873,342	SH		SOLE	N/A	873,342	0	0
COHEN & STEERS INFRASTRUCTURE FD INC COM	COM	19248A109	21,884	1,022,158	SH		SOLE	N/A	1,022,158	0	0
COHEN & STEERS REIT & PFD INCOME FD INC CO	COM	19247X100	24,263	1,298,158	SH		SOLE	N/A	1,298,158	0	0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD	UNIT LTD PARTNER	226344208	493	19,259	SH		SOLE	N/A	19,259	0	0
DCP MIDSTREAM LP COM UTS REPSTG LTD PART I	COM UT LTD PTN	23311P100	5,901	168,017	SH		SOLE	N/A	168,017	0	0
DEERE & CO	COM	244199105	366	2,354	SH		SOLE	N/A	2,354	0	0
DOUBLELINE INCOME SOLUTIONS FD	COM	258622109	40,054	1,994,718	SH		SOLE	N/A	1,994,718	0	0
DOWDUPONT INC COM	COM	26078J100	219	3,430	SH		SOLE	N/A	3,430	0	0
ELI LILLY & CO COM	COM	532457108	1,652	21,349	SH		SOLE	N/A	21,349	0	0
ENDURO RTY TR TR UNIT	TR UNIT	29269K100	898	252,819	SH		SOLE	N/A	252,819	0	0
ENERGY TRANSFER PARTNERS LP	UNIT LTD PRT INT	29278N103	332	20,467	SH		SOLE	N/A	20,467	0	0
ETFIS SER TR I INFRACAP ACTIVE MLP ETF	INFRAC ACT MLP	26923G103	23,688	3,463,227	SH		SOLE	N/A	3,463,227	0	0
EXXON MOBIL CORP COM	COM	30231G102	1,119	15,002	SH		SOLE	N/A	15,002	0	0
GASLOG PARTNERS LP UNIT LTD PARTNERSHIP	UNIT LTD PTNRP	Y2687W108	3,773	161,918	SH		SOLE	N/A	161,918	0	0
GENERAL MNY MKT FUND	MONEY MARKET	370990228	28,580	28,579,570	SH		SOLE	N/A	28,579,570	0	0
GOLAR LNG PARTNERS LP PARTNERS	COM UNIT LPI	Y2745C102	15,024	878,054	SH		SOLE	N/A	878,054	0	0
HI-CRUSH PARTNERS LP COM UNIT PARTNER INTS	COM UNIT LTD	428337109	322	30,341	SH		SOLE	N/A	30,341	0	0
HOLLY ENERGY PARTNERS LP	COM UT LTD PTN	435763107	6,734	244,259	SH		SOLE	N/A	244,259	0	0
INFORMATION SERVICES GRP	COM	45675Y104	263	62,843	SH		SOLE	N/A	62,843	0	0
INTEL CORP COM	COM	458140100	259	4,964	SH		SOLE	N/A	4,964	0	0
INVESCO VAN KAMPEN DYNAMIC CR OPP FD COM	COM	46132R104	2,014	171,670	SH		SOLE	N/A	171,670	0	0
JOHNSON & JOHNSON COM	COM	478160104	442	3,452	SH		SOLE	N/A	3,452	0	0
MAIN STR CAP CORP	COM	56035L104	15,184	411,498	SH		SOLE	N/A	411,498	0	0
MASTERCARD INC CL A	CL A	57636Q104	237	1,353	SH		SOLE	N/A	1,353	0	0
MERCK & CO INC NEW COM	COM	58933Y105	249	4,575	SH		SOLE	N/A	4,575	0	0
MESA RTY TR UNIT BEN INT	UNIT BEN INT	590660106	781	51,936	SH		SOLE	N/A	51,936	0	0
MICROSOFT CORP COM	COM	594918104	462	5,058	SH		SOLE	N/A	5,058	0	0
NIKE INC CLASS B	CL B	654106103	206	3,104	SH		SOLE	N/A	3,104	0	0
NUVEEN GLOBAL HIGH INCOME FD SHS	SHS	67075G103	17,863	1,108,124	SH		SOLE	N/A	1,108,124	0	0
NUVEEN MULTI STRATEGY & INCOME GROWTH FD 2	COM SHS	67073D102	228	28,737	SH		SOLE	N/A	28,737	0	0
OGE ENERGY CORP	COM	670837103	355	10,834	SH		SOLE	N/A	10,834	0	0
ONEOK INC NEW COM	COM	682680103	207	3,640	SH		SOLE	N/A	3,640	0	0
PERMIAN BASIN RTY TR UNIT BEN INT	UNIT BEN INT	714236106	836	86,649	SH		SOLE	N/A	86,649	0	0
PHILIP MORRIS INTL INC COM	COM	718172109	633	6,370	SH		SOLE	N/A	6,370	0	0
PIMCO DYNAMIC CREDIT INCOME FD COM SHS	COM SHS	72202D106	46,330	2,024,891	SH		SOLE	N/A	2,024,891	0	0
PROCTER & GAMBLE CO COM	COM	742718109	454	5,729	SH		SOLE	N/A	5,729	0	0
RSTK INFORMATION SERVICES GROUP INC	COM	45675Y906	216	51,604	SH		SOLE	N/A	51,604	0	0
SAN JUAN BASIN RTY TR UNIT BEN INT	UNIT BEN INT	798241105	778	98,453	SH		SOLE	N/A	98,453	0	0
SANDRIDGE PERMIAN TR COM UNIT REPSTG	COM UNIT BEN INT	80007A102	239	125,583	SH		SOLE	N/A	125,583	0	0
TEXAS INSTRUMENTS INC	COM	882508104	4,593	44,208	SH		SOLE	N/A	44,208	0	0
TORTOISE PWR & ENERGY INFRASTRUCTURE FUND	COM	89147X104	415	23,156	SH		SOLE	N/A	23,156	0	0
VISA INC COM CL A	COM CL A	92826C839	887	7,415	SH		SOLE	N/A	7,415	0	0
VOC ENERGY TR TR UNIT	TR UNIT	91829B103	699	171,678	SH		SOLE	N/A	171,678	0	0
WAL MART STORES INC COM	COM	931142103	217	2,442	SH		SOLE	N/A	2,442	0	0
WESTERN ASSET EMERGING MKTS DEBT FD INC	COM	95766A101	45,944	3,161,987	SH		SOLE	N/A	3,161,987	0	0
WESTERN ASSET GLOBAL CORP DEFINED OPPTNTY	COM	95790C107	853	51,013	SH		SOLE	N/A	51,013	0	0
HARNETT HEALTH SYS INC ADJ RATE HOSPITAL BD SER 2011A	CORPORATE BOND	41333PAA4	3,163	3,160,000	PRN		SOLE	N/A	3,160,000	0	0
ARIZONA INDL DEV AUTH ACADEMIES MATH & SCIENCE -SER B 5.125 07/01/47	MUNICIPAL BOND	04052BBR4	923	950,000	PRN		SOLE	N/A	950,000	0	0
ARIZONA INDL DEV AUTH ED REV FAC ODYSSEY PREPARATORY ACADEMY 5.5 7/1/52	MUNICIPAL BOND	04052BDB7	3,982	4,155,000	PRN		SOLE	N/A	4,155,000	0	0
BAY CNTY FLA EDL FAC REV BAY HAVEN CHARTER ACADEMY	MUNICIPAL BOND	072222AJ1	1,544	1,485,000	PRN		SOLE	N/A	1,485,000	0	0
CALIFORNIA ST STWD COMMUNITY DEV AUTH EDU FAC REVENUE INDEPENDENCE PROJ	MUNICIPAL BOND	13079HAG6	4,833	6,365,000	PRN		SOLE	N/A	6,365,000	0	0
CAMERON TX EDU CORP REVENUE FAITH FAMILY ACADEMY - SERIES A	MUNICIPAL BOND	133582AN6	1,719	1,725,000	PRN		SOLE	N/A	1,725,000	0	0
CAP TR AGY FL PRITY FIRST MTG REV SILVER CREEK ST AUG PJ-A 5.75 1/01/50	MUNICIPAL BOND	14053PAA9	540	600,000	PRN		SOLE	N/A	600,000	0	0
CAPITAL TR AGY FLA REV 1ST MTG-SILVER CREEK ST. AUGUSTINE PROJ	MUNICIPAL BOND	14052WBV8	2,050	2,500,000	PRN		SOLE	N/A	2,500,000	0	0
CAPITAL TR AGY FLA REV TAXABLE 1ST MTG-SILVER CREEK ST. AUGUSTINE PROJ	MUNICIPAL BOND	14052WBX4	650	755,000	PRN		SOLE	N/A	755,000	0	0
COLORADO ST EDUCATION & CULTURAL FACS AUTH - ATLAS PREP CHARTER SCHOOL	MUNICIPAL BOND	19645RC25	1,350	1,375,000	PRN		SOLE	N/A	1,375,000	0	0
FANNIN CNTY TX PUBLIC FAC CORP REVENUE TXBLE	MUNICIPAL BOND	307149AM6	1,523	2,200,000	PRN		SOLE	N/A	2,200,000	0	0
FANNIN CNTY TX PUBLIC FAC CORP REVENUE TXBLE-REF	MUNICIPAL BOND	307149AN4	422	640,000	PRN		SOLE	N/A	640,000	0	0
FL CHARTER SCHOOL REVENUE RIVER CITY EDU SVCS INC PROJ- SER A	MUNICIPAL BOND	140539AC1	1,486	1,530,000	PRN		SOLE	N/A	1,530,000	0	0
FL CHARTER SCHOOL REVENUE RIVER CITY EDU SVCS INC PROJ-SER A	MUNICIPAL BOND	140539AB3	609	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	606	610,000	PRN		SOLE	N/A	610,000	0	0
FLORIDA DEV RENAISSANCE CHARTER SCH INC PROJS-SER A 6.125 06/15/46	MUNICIPAL BOND	34061UBV9	858	825,000	PRN		SOLE	N/A	825,000	0	0
HUDSON CNTY NJ IMPT AUTH REV TAXABLE	MUNICIPAL BOND	44372RCY2	1,227	1,125,000	PRN		SOLE	N/A	1,125,000	0	0
IRVING TX HOTEL OCCUPANCY TAX REV TXBL SER A	MUNICIPAL BOND	463805BQ3	1,724	1,670,000	PRN		SOLE	N/A	1,670,000	0	0
LA PAZ CNTY ARIZ ED FAC LEASE REV CHARTER SCH SOLUTIONS 5 02/15/46	MUNICIPAL BOND	50376FAF4	5,601	5,890,000	PRN		SOLE	N/A	5,890,000	0	0
MOUNT ORAB OH PORT AUTH AUTOMALL PROJECT - 6.750 TAXABLE 12/01/36	MUNICIPAL BOND	622266AA2	5,419	5,350,000	PRN		SOLE	N/A	5,350,000	0	0
OHIO CNTY W VA CNTY COMMN SPL DIST EXCISE TAX REV RFDG-TAXABLE-SER A 5.0	MUNICIPAL BOND	67732PDB1	2,479	2,475,000	PRN		SOLE	N/A	2,475,000	0	0
OHIO CNTY WV CNTY COMMISSIN SPL DIST EXCISE TAX REVENUE	MUNICIPAL BOND	67732PCP1	712	700,000	PRN		SOLE	N/A	700,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE GRIFFIN FNDTN PROJ SER A	MUNICIPAL BOND	72177MJQ1	4,194	4,195,000	PRN		SOLE	N/A	4,195,000	0	0
PIMA CNTY AZ INDL DEV AUTH EDU REVENUE GRIFFIN FNDTN PROJ SER B	MUNICIPAL BOND	72177MJR9	685	685,000	PRN		SOLE	N/A	685,000	0	0
PRAIRIELAND DETENTION CENTER PROJ - PUB FAC CORP TEXAS PROJ REV TAXABLE	MUNICIPAL BOND	73972CAN4	4,654	6,075,000	PRN		SOLE	N/A	6,075,000	0	0
PUBLIC FIN AITH WIS ED REV TRIAD EDUCATION SERVICES INC-TXBL SER B	MUNICIPAL BOND	74442EAY6	244	245,000	PRN		SOLE	N/A	245,000	0	0
PUBLIC FIN AUTH WIS ED REV TAX-CORNERSTONE CHRTR ACADEMY 6.5 2/1/26 DTD	MUNICIPAL BOND	74442EBL3	1,855	1,900,000	PRN		SOLE	N/A	1,900,000	0	0
PUBLIC FIN AUTH WIS ED REV TRIAD EDUCATION SERVICES INC	MUNICIPAL BOND	74442EAX8	1,743	1,775,000	PRN		SOLE	N/A	1,775,000	0	0
RIVERHEAD NY IDA ECONOMIC JOB DEV CORP EDL REV TAXABLE 7.65 08/01/34	MUNICIPAL BOND	76876RAN1	3,605	4,010,000	PRN		SOLE	N/A	4,010,000	0	0
SAN LUIS ARIZ FAC DEV CORP REV RFDG-TAXABLE-SR LIEN-SAN LUIS REGL 7.250	MUNICIPAL BOND	79854SAS8	1,522	2,235,000	PRN		SOLE	N/A	2,235,000	0	0
SILICON VLY CA TOBACCO SECURITIZATION AUTH TABACCO SETTLEM CAP APPREC	MUNICIPAL BOND	82706TAD3	316	5,500,000	PRN		SOLE	N/A	5,500,000	0	0
TANGIPAHOA PARISH LA HOSP SVC DIST NO 1 HOSP REV TAXABLE-NORTH OAKS	MUNICIPAL BOND	875518EL2	721	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	852	900,000	PRN		SOLE	N/A	900,000	0	0
WARREN CNTY KY HOTEL TAX REV BUILD AMER BDS-DIRECT PMT	MUNICIPAL BOND	934866BF0	519	475,000	PRN		SOLE	N/A	475,000	0	0