Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	LEXINGTON PTY	1,704,053	$14.45M	6.4%	$8.48	$11.28	—	COM	529043101
—	CROWN CASTLE	106,238	$10.94M	4.8%	$102.97	$102.57	—	PFD	22822V200
—	SPIRIT REALTY	11,215,000	$10.57M	4.7%	$0.94	$0.98	—	DEB	84860WAA0
SNY	SANOFI SPONSOR	202,352	$10.02M	4.4%	$49.53	$51.12	—	COM	80105N105
SFL 3.25 02/01/18	SHIP FINANCE	9,148,000	$9.714M	4.3%	$1.06	$1.09	—	DEB	G81075AE6
HCI	HCI GROUP	210,906	$9.324M	4.1%	$44.21	$34.61	+29.5%	COM	40416E103
MET	METLIFE	166,427	$9.318M	4.1%	$55.99 *	$29.03	+14.1%	COM	59156R108
—	NATIONAL HEALTH	9,370,000	$9.247M	4.1%	$0.99	$1.00	—	DEB	63633DAE4
AGN 5.5 03/01/18 A	ALLERGAN	7,695	$8.046M	3.5%	$1045.61	$1045.61	—	PFD	G0177J116
—	RAMCO GERSHNSN	133,947	$7.978M	3.5%	$59.56	$58.95	—	PFD	751452608
—	LEXINGTON PTY	148,041	$7.066M	3.1%	$47.73	$47.91	—	PFD	529043309
AAPL	APPLE INC	54,656	$6.855M	3.0%	$125.42 *	$17.94	+59.1%	COM	037833100
—	GENERAL MOTORS	204,507	$6.816M	3.0%	$33.33	$34.42	—	COM	30745V100
GT	GOODYEAR TIRE	189,703	$5.719M	2.5%	$30.15	$24.75	+20.1%	COM	382550101
—	HCI GROUP	5,636,000	$5.52M	2.4%	$0.98	$0.99	—	DEB	40416EAB9
—	TTM TECH	4,708,000	$5.482M	2.4%	$1.16	$1.02	—	DEB	87305RAD1
—	TYSON FOODS	105,675	$5.443M	2.4%	$51.51	$51.51	—	PFD	902494301
—	EXELIXIS	5,990,000	$5.297M	2.3%	$0.88	$0.56	—	DEB	30161QAC8
F	FORD MOTOR	338,673	$5.083M	2.2%	$15.01 *	$8.52	+2.7%	COM	345370860
MRK	MERCK	85,949	$4.893M	2.2%	$56.93 *	$32.42	+24.1%	COM	58933Y105
—	ROYAL GOLD	4,146,000	$4.244M	1.9%	$1.02	$1.04	—	DEB	780287AA6
—	EPR PROPERTIES	182,752	$4.198M	1.8%	$22.97	$22.13	—	PFD	26884U208
—	CARRIAGE SERVICES	3,510,000	$4.19M	1.8%	$1.19	$1.19	—	DEB	143905AM9
ORI	OLD REPUBLIC	252,700	$3.949M	1.7%	$15.63 *	$6.23	+15.1%	COM	680223104
—	NATL OILWELL	74,480	$3.596M	1.6%	$48.28	$75.21	—	COM	637071101
—	NY COMM BANC	59,866	$3.062M	1.3%	$51.15	$48.87	—	PFD	64944P307
—	ARES CAPITAL	2,985,000	$3.052M	1.3%	$1.02	$1.03	—	DEB	04010LAJ2
VZ	VERIZON	60,532	$2.821M	1.2%	$46.60 *	$27.78	+2.0%	COM	92343V104
—	AMERICAN RLTY	2,777,000	$2.595M	1.1%	$0.93	$0.95	—	DEB	02917TAA2
—	NY COMM BANC	130,500	$2.398M	1.1%	$18.38	$14.00	—	COM	649445103
—	CAPITAL ONE	50,000	$2.3M	1.0%	$46.00	$27.06	—	WTS	14040H139
—	JPMORGAN CHASE	87,000	$2.153M	0.9%	$24.75	$18.66	—	WTS	46634E114
MTNA 6 01/15/16	ARCELMORMITTAL	136,044	$2.123M	0.9%	$15.61	$21.03	—	PFD	L0302D178
—	ASCENT CAPITAL	2,300,000	$1.903M	0.8%	$0.83	$1.07	—	DEB	043632AA6
—	HEALTHCARE REIT	31,396	$1.866M	0.8%	$59.43	$57.47	—	PFD	42217K601
—	JEFFERIES GROUP	1,255,000	$1.281M	0.6%	$1.02	$1.02	—	DEB	472319AG7
—	SWISS HELVETIA	108,273	$1.226M	0.5%	$11.32	$11.94	—	COM	870875101
—	ENVESTNET	1,165,000	$1.131M	0.5%	$0.97	$1.00	—	DEB	29404KAA4
—	GENERAL MOTORS	70,200	$1.119M	0.5%	$15.94	$17.42	—	WTS	37045V126
PFE	PFIZER	31,000	$1.039M	0.5%	$33.52 *	$16.51	+25.8%	COM	717081103
—	RTI INTERNATIONAL	890,000	$965K	0.4%	$1.08	$0.98	—	DEB	74973WAB3
—	EXELON CORP	19,467	$883K	0.4%	$45.36	$52.34	—	PFD	30161N127
—	J2 GLOBAL	760,000	$881K	0.4%	$1.16	$1.10	—	DEB	48123VAC6
—	INVESCO TR INVT	65,500	$881K	0.4%	$13.45	$12.38	—	COM	46131M106
PRU	PRUDENTIAL FINL	10,000	$875K	0.4%	$87.50 *	$51.98	+2.4%	COM	744320102
—	AMERICAN RLTY	100,500	$817K	0.4%	$8.13	$12.59	—	COM	02917T104
—	CHESAPEAKE ENGY	765,000	$737K	0.3%	$0.96	$1.00	—	DEB	165167CA3
WU	WESTERN UNION	34,000	$691K	0.3%	$20.32	$16.91	—	COM	959802109
GME	GAMESTOP	15,000	$644K	0.3%	$42.93 *	$7.12	+8.7%	COM	36467W109
LYB	LYONDELLBASELL	6,100	$631K	0.3%	$103.44 *	$52.23	+7.5%	COM	N53745100
—	TOLL BROS	590,000	$612K	0.3%	$1.04	$1.02	—	DEB	88947EAM2
—	ENSCO PLC	25,000	$556K	0.2%	$22.24	$47.58	—	COM	G3157S106
—	SPIRIT REALTY	585,000	$545K	0.2%	$0.93	$1.00	—	DEB	84860WAB8
KSS	KOHLS GROUP	8,650	$541K	0.2%	$62.54 *	$51.89	+33.8%	COM	500255104
—	MACQUARIE INFRA	415,000	$489K	0.2%	$1.18	$1.11	—	DEB	55608BAA3
CVX	CHEVRON	4,750	$458K	0.2%	$96.42 *	$72.59	-8.5%	COM	166764100
—	BB&T CORP	11,000	$443K	0.2%	$40.27	$38.09	—	COM	054937107
—	SYNOVUS FINL	13,500	$416K	0.2%	$30.81	$2.92	—	COM	87161C105
—	CHESAPEAKE ENGY	36,499	$408K	0.2%	$11.18	$16.71	—	COM	165167107
—	APACHE CORP	7,000	$403K	0.2%	$57.57	$74.55	—	COM	037411105
—	NOBLE CORP.	26,000	$400K	0.2%	$15.38	$31.25	—	COM	G65431101
OXBR	OXBRIDGE	60,427	$365K	0.2%	$6.04	$5.97	0.0%	COM	G6856M106
EXEL	EXELIXIS	90,300	$339K	0.1%	$3.75 *	$2.76	+17.8%	COM	30161Q104
—	OLD REPUBLIC	284,000	$335K	0.1%	$1.18	$1.13	—	DEB	680223AH7
—	ALLERGAN PLC	1,073	$325K	0.1%	$302.89	$302.89	—	COM	G0177J108
NEM	NEWMONT MINE	13,000	$303K	0.1%	$23.31 *	$21.53	-9.2%	COM	651639106
FITB	FIFTH THIRD BANK	14,000	$291K	0.1%	$20.79 *	$12.96	+8.2%	COM	316773100
XOM	EXXON MOBIL	3,215	$267K	0.1%	$83.05 *	$55.57	-2.3%	COM	30231G102
—	SEAGATE TECH	5,500	$261K	0.1%	$47.45	$56.58	—	COM	G7945M107
—	DIAMOND OFFSHORE	10,000	$258K	0.1%	$25.80	$48.73	—	COM	25271C102
—	SHIP FINANCE	13,700	$223K	0.1%	$16.28	$17.07	—	COM	G81075106
ABBV	ABBVIE	3,100	$208K	0.1%	$67.10 *	$42.33	0.0%	COM	00287Y109
—	ASHFORD HOSPITALITY	24,500	$207K	0.1%	$8.45	$8.45	—	COM	044103109
JBLU	JETBLUE AIRWAYS	10,000	$207K	0.1%	$20.70 *	$12.97	+56.2%	COM	477143101
—	GENERAL ELECTRIC	7,344	$195K	0.1%	$26.55	$24.73	—	COM	369604103
—	NICHOLAS FIN	13,500	$172K	0.1%	$12.74	$15.12	—	COM	65373J209
—	SYNTA PHARM	72,500	$161K	0.1%	$2.22	$4.51	—	COM	87162T206
FCX	FREEPORT MCMORAN	8,300	$154K	0.1%	$18.55	$17.62	+4.8%	COM	35671D857
LEG	LEGGETT & PLATT	3,065	$149K	0.1%	$48.61 *	$30.96	+50.9%	COM	524660107
C	CITIGROUP	2,455	$136K	0.1%	$55.40 *	$35.76	+13.4%	COM	172967424
—	XEROX CORP	12,500	$133K	0.1%	$10.64	$12.37	—	COM	984121103
—	GOODRICH PETRO	67,500	$125K	0.1%	$1.85	$3.54	—	COM	382410405
AFL	AFLAC	2,000	$124K	0.1%	$62.00 *	$24.64	0.0%	COM	001055102
BAC	BANK OF AMERICA	7,000	$119K	0.1%	$17.00 *	$13.13	0.0%	COM	060505104
—	PROSHARES	2,375	$118K	0.1%	$49.68	$71.54	—	COM	74743B201
—	NEWMONT MINE	115,000	$116K	0.1%	$1.01	$1.01	—	DEB	651639AJ5
—	SANDRIDGE	129,485	$113K	0.0%	$0.87	$3.32	—	COM	80007P307
—	CITRIX SYSTEMS	100,000	$106K	0.0%	$1.06	$1.06	—	DEB	177376AD2
—	PRAXAIR	880	$105K	0.0%	$119.32	$115.09	—	COM	74005P104
—	GENERAL CABLE	5,218	$103K	0.0%	$19.74	$19.74	—	COM	369300108