Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	LEXINGTON PTY	1,702,862	$13.79M	6.3%	$11.28	—	COM	529043101
—	CROWN CASTLE	104,568	$10.65M	4.9%	$102.57	—	PFD	22822V200
—	SPIRIT REALTY	11,230,000	$10.46M	4.8%	$0.98	—	DEB	84860WAA0
—	NATIONAL HEALTH	10,342,000	$10.03M	4.6%	$1.00	—	DEB	63633DAE4
SFL 3.25 02/01/18	SHIP FINANCE	8,798,000	$9.21M	4.2%	$1.09	—	DEB	G81075AE6
—	RAMCO GERSHNSN	155,087	$8.634M	4.0%	$58.51	—	PFD	751452608
HCI	HCI GROUP	210,081	$8.145M	3.7%	$34.61	+19.7%	COM	40416E103
MET	METLIFE	164,518	$7.757M	3.6%	$29.03	+13.3%	COM	59156R108
SNY	SANOFI SPONSOR	162,175	$7.698M	3.5%	$51.12	—	COM	80105N105
—	TTM TECH	8,258,000	$7.231M	3.3%	$0.96	—	DEB	87305RAD1
AGN 5.5 03/01/18 A	ALLERGAN	7,565	$7.137M	3.3%	$1045.61	—	PFD	G0177J116
—	LEXINGTON PTY	143,620	$6.796M	3.1%	$47.91	—	PFD	529043309
—	HCI GROUP	7,046,000	$6.412M	2.9%	$0.97	—	DEB	40416EAB9
—	TYSON FOODS	121,001	$6.202M	2.8%	$51.48	—	PFD	902494301
—	GENERAL MOTORS	200,027	$6.005M	2.8%	$34.42	—	COM	30745V100
MRK	MERCK	119,139	$5.884M	2.7%	$34.09	+12.7%	COM	58933Y105
AAPL	APPLE INC	53,071	$5.854M	2.7%	$17.94	+46.5%	COM	037833100
—	NY COMM BANC	111,139	$5.557M	2.5%	$49.39	—	PFD	64944P307
F	FORD MOTOR	338,673	$4.596M	2.1%	$8.52	-4.4%	COM	345370860
—	EXELIXIS	3,624,000	$4.374M	2.0%	$0.56	—	DEB	30161QAC8
VZ	VERIZON	94,872	$4.128M	1.9%	$27.50	-1.8%	COM	92343V104
—	EPR PROPERTIES	182,752	$4.05M	1.9%	$22.13	—	PFD	26884U208
ORI	OLD REPUBLIC	250,000	$3.91M	1.8%	$6.23	+21.0%	COM	680223104
GT	GOODYEAR TIRE	129,107	$3.787M	1.7%	$24.75	+21.3%	COM	382550101
—	CARRIAGE SERVICES	3,290,000	$3.65M	1.7%	$1.19	—	DEB	143905AM9
—	ROYAL GOLD	3,619,000	$3.488M	1.6%	$1.04	—	DEB	780287AA6
—	ARES CAPITAL	2,745,000	$2.807M	1.3%	$1.03	—	DEB	04010LAJ2
—	SHUTTERFLY	2,963,000	$2.746M	1.3%	$0.93	—	DEB	82568PAB2
—	AMERICAN RLTY	2,687,000	$2.549M	1.2%	$0.95	—	DEB	02917TAA2
—	NATL OILWELL	64,680	$2.435M	1.1%	$75.21	—	COM	637071101
—	HEALTHCARE REIT	31,396	$1.907M	0.9%	$57.47	—	PFD	42217K601
—	JPMORGAN CHASE	84,500	$1.682M	0.8%	$18.66	—	WTS	46634E114
—	ASCENT CAPITAL	2,300,000	$1.656M	0.8%	$1.07	—	DEB	043632AA6
—	CAPITAL ONE	50,000	$1.585M	0.7%	$27.06	—	WTS	14040H139
—	SWISS HELVETIA	114,379	$1.242M	0.6%	$11.88	—	COM	870875101
—	ATLAS AIR WORLDWIDE	1,365,000	$1.094M	0.5%	$0.80	—	DEB	049164BH8
—	EXELON CORP	22,467	$981K	0.4%	$51.18	—	PFD	30161N127
—	ENVESTNET	1,105,000	$981K	0.4%	$1.00	—	DEB	29404KAA4
PFE	PFIZER	31,000	$974K	0.4%	$16.51	+24.8%	COM	717081103
—	JEFFERIES GROUP	935,000	$950K	0.4%	$1.02	—	DEB	472319AG7
—	GENERAL MOTORS	70,200	$928K	0.4%	$17.42	—	WTS	37045V126
—	NY COMM BANC	48,000	$867K	0.4%	$14.00	—	COM	649445103
—	RTI INTERNATIONAL	810,000	$851K	0.4%	$0.98	—	DEB	74973WAB3
—	INVESCO TR INVT	65,565	$848K	0.4%	$12.38	—	COM	46131M106
—	J2 GLOBAL	680,000	$807K	0.4%	$1.10	—	DEB	48123VAC6
—	VEREIT INC	99,000	$764K	0.4%	$7.72	—	COM	92339V100
PRU	PRUDENTIAL FINL	10,000	$762K	0.3%	$51.98	+1.9%	COM	744320102
OXBR	OXBRIDGE	120,000	$718K	0.3%	$6.07	+1.6%	COM	G6856M106
GME	GAMESTOP	15,000	$618K	0.3%	$7.12	+18.5%	COM	36467W109
—	CHESAPEAKE ENGY	695,000	$608K	0.3%	$1.00	—	DEB	165167CA3
—	CHART INDUSTRIES	680,000	$594K	0.3%	$0.87	—	DEB	16115QAC4
WU	WESTERN UNION	32,000	$587K	0.3%	$16.91	—	COM	959802109
—	SPIRIT REALTY	585,000	$534K	0.2%	$1.00	—	DEB	84860WAB8
LYB	LYONDELLBASELL	6,100	$508K	0.2%	$52.23	-4.6%	COM	N53745100
—	SEAGATE TECH	10,000	$448K	0.2%	$51.28	—	COM	G7945M107
—	TOLL BROS	395,000	$406K	0.2%	$1.02	—	DEB	88947EAM2
—	SYNOVUS FINL	13,500	$400K	0.2%	$2.92	—	COM	87161C105
—	BB&T CORP	11,000	$392K	0.2%	$38.09	—	COM	054937107
CVX	CHEVRON	4,750	$375K	0.2%	$72.59	-25.8%	COM	166764100
—	ENSCO PLC	25,000	$352K	0.2%	$47.58	—	COM	G3157S106
JPM	JP MORGAN CHASE	5,500	$335K	0.2%	$49.62	0.0%	COM	46625H100
—	MACQUARIE INFRA	290,000	$329K	0.2%	$1.11	—	DEB	55608BAA3
—	OLD REPUBLIC	284,000	$328K	0.2%	$1.13	—	DEB	680223AH7
KSS	KOHLS GROUP	6,900	$319K	0.1%	$51.89	+8.4%	COM	500255104
ETN	EATON CORP	6,000	$308K	0.1%	$46.51	0.0%	COM	G29183103
FITB	FIFTH THIRD BANK	16,000	$302K	0.1%	$13.11	+7.9%	COM	316773100
—	ALLERGAN PLC	1,073	$291K	0.1%	$302.89	—	COM	G0177J108
—	NOBLE CORP.	26,000	$284K	0.1%	$31.25	—	COM	G65431101
MTNA 6 01/15/16	ARCELMORMITTAL	34,500	$283K	0.1%	$21.03	—	PFD	L0302D178
—	CHESAPEAKE ENGY	37,499	$275K	0.1%	$16.46	—	COM	165167107
JBLU	JETBLUE AIRWAYS	10,000	$258K	0.1%	$12.97	+81.7%	COM	477143101
EXEL	EXELIXIS	42,800	$240K	0.1%	$2.76	+97.1%	COM	30161Q104
XOM	EXXON MOBIL	3,215	$239K	0.1%	$55.57	-11.7%	COM	30231G102
—	ASHFORD HOSPITALITY	39,000	$238K	0.1%	$7.58	—	COM	044103109
—	APACHE CORP	6,000	$235K	0.1%	$74.55	—	COM	037411105
AFL	AFLAC	4,000	$232K	0.1%	$24.16	-1.9%	COM	001055102
—	SHIP FINANCE	13,700	$223K	0.1%	$17.07	—	COM	G81075106
NEM	NEWMONT MINE	13,000	$210K	0.1%	$21.53	-34.9%	COM	651639106
—	DIAMOND OFFSHORE	10,000	$173K	0.1%	$48.73	—	COM	25271C102
ABBV	ABBVIE	3,100	$169K	0.1%	$42.33	+0.4%	COM	00287Y109
—	NICHOLAS FIN	12,000	$156K	0.1%	$15.12	—	COM	65373J209
—	GENERAL ELECTRIC	5,994	$151K	0.1%	$24.73	—	COM	369604103
IP	INTERNATIONAL PAPER	4,000	$151K	0.1%	$27.15	0.0%	COM	460146103
—	BUNGE LTD	2,000	$147K	0.1%	$73.50	—	COM	G16962105
—	WEYERHAEUSER	3,000	$143K	0.1%	$47.67	—	PFD	962166872
—	PROSHARES	3,000	$130K	0.1%	$65.66	—	COM	74743B201
—	SYNTA PHARM	72,500	$126K	0.1%	$4.51	—	COM	87162T206
LEG	LEGGETT & PLATT	3,065	$126K	0.1%	$30.96	+50.8%	COM	524660107
MOS	MOSAIC CO	4,000	$124K	0.1%	$33.56	0.0%	COM	61945C103
—	XEROX CORP	12,500	$122K	0.1%	$12.37	—	COM	984121103
PSX	PHILLIPS 66	1,500	$115K	0.1%	$54.04	0.0%	COM	718546104
BAC	BANK OF AMERICA	7,000	$109K	0.0%	$13.13	+2.4%	COM	060505104