Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE	109,620	$13.64M	5.9%	$18.86	+42.4%	COM	037833100
—	COLONY CAPITAL, INC.	488,398	$12.66M	5.5%	$23.41	—	COM	19624R106
—	WHITEWAVE FOODS COMPANY	242,560	$10.76M	4.7%	$22.65	—	COM	966244105
—	AETNA	92,430	$9.847M	4.3%	$80.35	—	COM	00817Y108
—	GOOGLE INC	15,830	$8.675M	3.8%	$542.39	—	COM	38259P706
—	CBS CORP CL B	134,650	$8.164M	3.6%	$60.63	—	COM	124857202
BAC	BANK OF AMERICA	495,200	$7.621M	3.3%	$11.45	+11.4%	COM	060505104
DAL	DELTA AIRLINES INC	169,150	$7.605M	3.3%	$25.98	+56.4%	COM	247361702
GILD	GILEAD SCIENCES	77,355	$7.591M	3.3%	$70.55	0.0%	COM	375558103
BA	BOEING	49,745	$7.466M	3.2%	$127.79	0.0%	COM	097023105
—	WALGREENS BOOT ALLIANCE INC	83,875	$7.103M	3.1%	$76.20	—	COM	931427108
—	NEW MEDIA INVESTMENT GROUP INC	293,175	$7.016M	3.1%	$16.52	—	COM	64704V106
—	VALEANT PHARMACEUTICALS INTERN	35,080	$6.968M	3.0%	$198.63	—	COM	91911x104
—	NEW YORK COMMUNITY BANCORP	402,350	$6.731M	2.9%	$14.72	—	COM	649445103
STWD	STARWOOD PROPERTY TRUST INC	232,475	$5.649M	2.5%	$25.62	—	COM	85571B105
—	LEXINGTON REALTY TR	503,850	$4.953M	2.2%	$11.45	—	COM	529043101
C	CITIGROUP INC.	94,209	$4.854M	2.1%	$36.49	+4.0%	COM	172967424
—	ACTAVIS PLC SER A 5.5%	4,120	$4.169M	1.8%	$1011.89	—	PFD	G0083B116
KMI	KINDER MORGAN INC	98,341	$4.136M	1.8%	$21.74	+9.8%	COM	49456B101
MRK	MERCK & CO INC	71,625	$4.117M	1.8%	$30.29	+33.1%	COM	58933Y105
—	BGC PARTNERS INC	427,650	$4.041M	1.8%	$6.83	—	COM	05541T101
—	CIGNA CORP COM	30,425	$3.938M	1.7%	$72.49	—	COM	125509109
—	WILLIAMS PARTNERS LP	77,431	$3.811M	1.7%	$49.22	—	COM	96949L105
—	ANADARKO PETROLEUM	40,900	$3.387M	1.5%	$85.89	—	COM	032511107
—	AMERICAN INTERNATIONAL GROUP	58,450	$3.202M	1.4%	$54.78	—	COM	026874107
WYNN	WYNN RESORTS	21,200	$2.669M	1.2%	$106.96	+15.1%	COM	983134107
—	DIRECT TV	30,382	$2.586M	1.1%	$61.64	—	COM	25490A309
—	EXCEL	183,371	$2.571M	1.1%	$12.70	—	COM	30068C109
—	KITE PHARMA INC	42,000	$2.423M	1.1%	$40.30	—	COM	49803L109
—	EXCEL TR INC 8.125% CUM PRF	88,450	$2.381M	1.0%	$26.10	—	PFD	30068C307
—	ATLAS RESOURCE PARTNERS LP	307,850	$2.374M	1.0%	$20.24	—	COM	04941A101
—	WESTERN GAS PARTNERS	31,725	$2.089M	0.9%	$64.89	—	COM	958254104
—	SANDRIDGE ENERGY INC 8.5%	51,800	$2.085M	0.9%	$105.93	—	PFD	80007P604
—	NORTHSTAR REALTY FINANCE PREF	69,650	$1.816M	0.8%	$24.81	—	PFD	66705V209
—	COLONY FINANCIAL INC SER A 8.5	67,850	$1.805M	0.8%	$26.19	—	PFD	19624R205
—	SYMANTEC	76,350	$1.784M	0.8%	$25.53	—	COM	871503108
—	MEMORIAL PRODUCTION PARTNERS L	101,750	$1.649M	0.7%	$22.59	—	COM	586048100
—	MEDLEY CAP	180,100	$1.648M	0.7%	$13.49	—	COM	58503F106
—	CITY NATIONAL CORP PFD SER D 6	42,600	$1.241M	0.5%	$26.29	—	PFD	17800X400
—	COLONY FINANCIAL INC SER B 7.5	46,050	$1.19M	0.5%	$25.96	—	PFD	19624R304
AAL	AMERICAN AIRLINES GROUP	22,250	$1.174M	0.5%	$35.64	+35.2%	COM	02376R102
GNRC	GENERAC HOLDINGS INC	22,925	$1.116M	0.5%	$32.90	+44.8%	COM	368736104
—	THL CREDIT INC	90,400	$1.111M	0.5%	$14.50	—	COM	872438106
—	RESOURCE CAPITAL PERF B 8.25%	46,800	$1.064M	0.5%	$24.40	—	PFD	76120W500
—	MORGAN STANLEY PRD G 6.625% 7-	38,300	$995K	0.4%	$25.53	—	PFD	61762V507
—	KKR & CO. LP	42,340	$966K	0.4%	$24.33	—	COM	48248M102
WFC	WELLS FARGO	17,725	$964K	0.4%	$27.36	+45.6%	COM	949746101
—	PRIVATEBANCORP 10%	34,559	$927K	0.4%	$25.84	—	PFD	74272L208
—	NORTHSTAR REALTY FINANCE PREF	32,650	$863K	0.4%	$25.21	—	PFD	66704R506
STAG	STAG INDUSTRIAL INC	34,000	$800K	0.3%	$19.98	—	COM	85254J102
—	STAG INDUSTRIAL PRF SER B 6.62	29,900	$765K	0.3%	$23.17	—	PFD	85254J300
M	MACYS	11,550	$750K	0.3%	$46.44	+38.6%	COM	55616P104
—	MORGAN STANLEY CAP 5.75%	29,200	$739K	0.3%	$24.45	—	PFD	617466206
—	AMERICAN CAPITAL AGENCY CORP	32,721	$698K	0.3%	$21.39	—	COM	02503X105
COF	CAPITAL ONE FINANCIAL	8,500	$670K	0.3%	$55.88	+15.5%	COM	14040H105
—	BEAZER HOMES USA INC 7.5%	24,700	$664K	0.3%	$29.17	—	PFD	07556Q709
BRK/A	BERKSHIRE HATHAWAY DEL CL A	3	$652K	0.3%	$165023.42	+33.9%	COM	084670108
—	AMERICAN CAPITAL AGENCY CORP P	25,700	$644K	0.3%	$24.86	—	PFD	02503X303
—	GRAMERCY PROPERTY TRUST B 7.12	23,700	$626K	0.3%	$25.56	—	PFD	38489R506
—	NORTHSTAR ASSET MANAGEMENT GRO	26,500	$619K	0.3%	$18.41	—	COM	66705Y104
GLD	SPDR GOLD TRUST	5,000	$568K	0.2%	$119.11	—	COM	78463V107
PWR	QUANTA SERVICES INC	19,150	$546K	0.2%	$34.38	-20.0%	COM	74762E102
—	LIBERTY INTERACTIVE CORPORATIO	18,544	$541K	0.2%	$23.03	—	COM	53071M104
JBLU	JETBLUE AIRWAYS CORP	28,000	$539K	0.2%	$17.02	0.0%	COM	477143101
—	NEW SENIOR INVESTMENT GROUP IN	31,200	$519K	0.2%	$16.46	—	COM	648691103
—	NORTHSTAR REALTY FINANCE	28,500	$516K	0.2%	$17.63	—	COM	66704R704
HON	HONEYWELL INTL INC	4,925	$514K	0.2%	$54.18	+34.7%	COM	438516106
—	CITY NATIONAL	5,400	$481K	0.2%	$63.33	—	COM	178566105
TEVA	TEVA PHARMACEUTICAL	7,500	$467K	0.2%	$39.20	—	COM	881624209
—	STAG INDUSTRIAL INC 9%	16,900	$465K	0.2%	$27.07	—	PFD	85254J201
—	LINN ENERGY	41,500	$459K	0.2%	$16.39	—	COM	536020100
OSUR	ORASURE TECHNOLOGIES	70,100	$458K	0.2%	$5.16	+60.8%	COM	68554V108
COST	COSTCO WHSL	3,000	$454K	0.2%	$86.56	+39.7%	COM	22160K105
—	YAHOO	10,000	$444K	0.2%	$43.83	—	COM	984332106
—	RESOURCE CAPITAL	95,800	$435K	0.2%	$4.72	—	COM	76120W302
XOM	EXXON	5,101	$434K	0.2%	$53.69	+3.5%	COM	30231G102
—	VIRGIN AMERICA INC	13,000	$395K	0.2%	$43.26	—	COM	92765X208
MS	MORGAN STANLEY	10,000	$357K	0.2%	$17.33	+53.9%	COM	617446448
OPK	OPKO HEALTH INC COM	25,000	$354K	0.2%	$6.91	+88.4%	COM	68375N103
HCA	HCA HOLDINGS, INC.	4,700	$354K	0.2%	$66.76	0.0%	COM	40412C101
—	REALTY INCOME CORP PREF F 6.62	12,800	$338K	0.1%	$24.30	—	PFD	756109807
—	QEP RESOURCES	15,500	$323K	0.1%	$29.76	—	COM	74733V100
—	GORDMANS STORES INC	36,750	$305K	0.1%	$6.63	—	COM	38269P100
VFC	VF CORP	4,000	$301K	0.1%	$52.11	+32.8%	COM	918204108
—	KKR FINL HLDGS LLC PFD SER A L	11,200	$300K	0.1%	$26.65	—	PFD	48248A603
—	ASSOCIATED BANC-CORP PFD STK S	10,900	$293K	0.1%	$28.39	—	PFD	045488202
MGM	MGM MIRAGE	13,200	$278K	0.1%	$14.02	+41.0%	COM	552953101
ARI	APOLLO COMMERCIAL REAL ESTATE	16,038	$276K	0.1%	$16.30	—	COM	03762U105
—	WHOLE FOODS MARKET	5,200	$271K	0.1%	$52.12	—	COM	966837106
—	LIBERTY MEDIA CORP CL. C	7,028	$268K	0.1%	$46.96	—	COM	531229300
—	NORTHSTAR REALTY FINANCE PREF	8,850	$234K	0.1%	$25.20	—	PFD	66704R605
—	RR DONNELLEY & SONS CO	12,000	$230K	0.1%	$14.45	—	COM	257867101
CAT	CATERPILLAR	2,825	$226K	0.1%	$61.86	+2.0%	COM	149123101
JNJ	JOHNSON & JOHNSON	2,200	$221K	0.1%	$60.07	+25.0%	COM	478160104
—	LIBERTY VENTURES SERIES A	4,874	$205K	0.1%	$42.06	—	COM	53071M880
FCX	FREEPORT MCMORAN, INC. CL B	10,000	$189K	0.1%	$25.41	-30.6%	COM	35671D857
SAN	BANCO SANTANDER	23,772	$177K	0.1%	$9.50	—	COM	05964H105
—	INVESCO MORTGAGE CAPITAL INC	10,000	$155K	0.1%	$16.29	—	COM	46131B100
—	NEWCASTLE INVESTMENT CORPORATI	30,600	$148K	0.1%	$12.68	—	COM	65105M603
—	BREITBURN ENERGY PARTNERS	24,640	$135K	0.1%	$7.00	—	COM	106776107
ULBI	ULTRALIFE BATTERIES	30,600	$120K	0.1%	$3.90	-11.2%	COM	903899102
—	LINC ENERGY	300,000	$117K	0.1%	$0.80	—	COM	Q5562Z103
—	AGENUS INC	20,000	$103K	0.0%	$5.15	—	COM	00847G705
—	ATLAS ENERGY GROUP, LLC	15,862	$95,000	0.0%	$5.99	—	COM	04929Q102
BRCOQ	BEARD	13,800	$0	0.0%	$0.01	-85.5%	COM	07384R408
—	BLACKHAWK CAP GROUP BDC	24,000	$0	0.0%	$0.04	—	COM	09236T103
—	RSTK TRIAD BIOTECHNOLOGY	60,000	$0	0.0%	—	—	COM	898994108
—	RSTK FULCRUM PHARM	20,000	$0	0.0%	—	—	COM	359994217
—	RSTK CELLICON BIOTECH SER A	100,000	$0	0.0%	—	—	COM	150990448