Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	Teekay Offshore Partners	655,001	$21.85M	11.5%	$33.36	$21.70	—	Partnership Un	Y8565J101
—	Teekay Lng Partners LPF	402,795	$17.77M	9.3%	$44.11	$26.97	—	Partnership Units	Y8564M105
—	National Oilwell Varco	158,916	$12.41M	6.5%	$78.11	$47.26	—	Com	637071101
—	New Residential Inv Corp	1,809,320	$11.98M	6.3%	$6.62	$6.72	—	COM	64828T102
—	Superior Energy Services	437,376	$10.95M	5.8%	$25.04	$20.48	—	Com	868157108
—	Newcastle Investment Cp	1,936,855	$10.88M	5.7%	$5.62	$4.55	—	Com	65105M108
—	Northstar Realty Fin Cp	1,100,818	$10.22M	5.4%	$9.28	$9.45	—	Com	66704R100
—	Calumet Specialty Prod	364,391	$9.944M	5.2%	$27.29	$33.86	—	UT LTD Partner	131476103
PBI	Pitney Bowes Inc	479,846	$8.728M	4.6%	$18.19 *	$14.77	+11.1%	Com	724479100
—	Tronox Ltd Class A	353,511	$8.65M	4.5%	$24.47	$19.91	—	SHS CL A	Q9235V101
—	Teekay Tankers Ltd Cl Af	3,192,829	$8.365M	4.4%	$2.62	$4.45	—	CL A	Y8565N102
—	Seadrill Ltd	185,079	$8.343M	4.4%	$45.08	$35.31	—	SHS	G7945E105
—	Earthlink Inc	1,242,925	$6.152M	3.2%	$4.95	$5.42	—	Com	270321102
VALE	Companhia Vale Do Adr	385,842	$6.023M	3.2%	$15.61	$27.57	—	ADR	91912E105
—	Fortress Invt Gp Llc A	552,102	$4.384M	2.3%	$7.94	$7.23	—	CL A	34958B106
C	Citigroup Inc	60,619	$2.941M	1.5%	$48.52 *	$37.61	0.0%	Com	172967424
—	Promotora De Info Adr Bf	937,484	$1.747M	0.9%	$1.86	$3.84	—	ADR CL B Conv	74343G303
—	Acadia Pharmaceuticals	58,335	$1.602M	0.8%	$27.46	$14.81	—	Com	04225108
—	Nationstar Mortgage Holdings	27,730	$1.559M	0.8%	$56.22	$39.14	—	Com	63861C109
MSFT	Microsoft Corp	45,648	$1.519M	0.8%	$33.28 *	$27.00	0.0%	Com	594918104
HALO	Halozyme Therapeutics	126,895	$1.401M	0.7%	$11.04 *	$8.33	0.0%	Com	40637H109
—	Gannett Co Inc Del	41,257	$1.105M	0.6%	$26.78	$22.40	—	Com	364730101
V	Visa Inc Cl A	5,641	$1.078M	0.6%	$191.10 *	$42.33	0.0%	Com CL A	92826C839
—	Delek US Holdings Inc	50,500	$1.065M	0.6%	$21.09	$21.09	—	Com	246647101
PFE	Pfizer Incorporated	36,726	$1.055M	0.6%	$28.73 *	$16.36	0.0%	Com	717081103
—	Kkr Financial Corp	96,480	$997K	0.5%	$10.33	$10.33	—	Com	482486306
STWD	Starwood Ppty TRUST Inc	36,234	$869K	0.5%	$23.98	$26.19	—	Com	85571B105
—	Bank Of America 7.25% PFDSER L	750	$811K	0.4%	$1081.33	$1081.33	—	7.25%CNV PFD L	060505682
—	Navios Maritime Ptnrs	52,298	$766K	0.4%	$14.65	$14.56	—	Unit LPI	Y62267102
—	Royal Dutch Shell A Adrf	10,680	$701K	0.4%	$65.64	$65.02	—	Spons ADR A	780259206
—	Hi-Crush Partners Lp	26,128	$688K	0.4%	$26.33	$19.99	—	Com Unit Ltd	428337109
BRK/B	Berkshire Hathaway Cl B	5,978	$679K	0.4%	$113.58	$110.02	+4.9%	Cl B New	084670702
CSCO	Cisco Systems Inc	28,090	$658K	0.3%	$23.42 *	$16.93	0.0%	Com	17275R102
ACRE	Ares Coml Real Estate	51,839	$644K	0.3%	$12.42	$14.81	—	Com	04013V108
—	MFC Industrial LTD	72,397	$608K	0.3%	$8.40	$8.07	—	Com	55278T105
—	General Electric Company	25,065	$599K	0.3%	$23.90	$23.90	—	COM	369604103
—	Fifth Street Finance Cp	58,036	$597K	0.3%	$10.29	$10.81	—	Com	31678A103
—	Teekay Corp	13,965	$597K	0.3%	$42.75	$42.75	—	Com	Y8564W103
AAPL	Apple Computer Inc	1,169	$557K	0.3%	$476.48 *	$667.38	-97.9%	Com	037833100
—	Navios Maritime Acqstn	142,770	$525K	0.3%	$3.68	$3.45	—	SHS	Y62159101
—	Mid-Con Energy Partn Lp	22,095	$517K	0.3%	$23.40	$23.40	—	Com Unit Repst	59560V109
SLRC	Solar Capital Ltd	23,030	$511K	0.3%	$22.19 *	$7.47	-2.3%	Com	83413U100
—	Two Harbors Investment	51,375	$499K	0.3%	$9.71	$11.55	—	Com	90187B101
—	Solar Senior Capital	27,564	$498K	0.3%	$18.07	$18.87	—	Com	83416M105
INTC	Intel Corp	21,245	$487K	0.3%	$22.92 *	$16.91	0.0%	Com	458140100
MTNA 6 01/15/16	Arcelormittal Sa	20,000	$430K	0.2%	$21.50	$21.50	—	Mand CV NT 16	L0302D178
GS	Goldman Sachs Group Inc	2,389	$378K	0.2%	$158.23 *	$123.05	+3.3%	Com	38141G104
HIMX	Himax Technologies Adr	36,600	$366K	0.2%	$10.00	$10.00	—	Sponsored ADR	43289P106
MRK	Merck & Co Inc	7,415	$353K	0.2%	$47.61 *	$30.97	0.0%	Com	58933Y105
XOM	Exxon Mobil Corporation	3,935	$339K	0.2%	$86.15 *	$68.22	-20.6%	Com	30231G102
PNNT	Pennantpark Invt Corp	24,887	$281K	0.1%	$11.29 *	$2.43	+3.7%	COM	708062104
BOND	Pimco Total Return ETF	2,600	$275K	0.1%	$105.77	$105.77	—	Totl Retn ETF	72201R775
PFLT	Pennantpark Cap Ltd	19,568	$270K	0.1%	$13.80 *	$4.09	-1.4%	COM	70806A106
F	Ford Motor Company	15,060	$254K	0.1%	$16.87 *	$9.02	0.0%	Com Par $0.01	345370860
CVX	Chevron Corp	2,059	$250K	0.1%	$121.42 *	$67.90	+7.7%	Com	166764100
—	Promotora De Info Adr Af	145,105	$245K	0.1%	$1.69	$1.90	—	ADR Cl A Shs	74343G204
DKL	Delek Logistics Lp	8,000	$245K	0.1%	$30.63	$30.63	—	Com Unt RP Int	24664T103
—	Navios Maritime	34,216	$244K	0.1%	$7.13	$4.75	—	COM	Y62196103
HAL	Halliburton Co Hldg Co	5,000	$241K	0.1%	$48.20 *	$37.32	0.0%	Com	406216101
JNJ	Johnson & Johnson	2,731	$237K	0.1%	$86.78 *	$63.54	0.0%	Com	478160104
BAC	Bank Of America Corp	17,028	$235K	0.1%	$13.80 *	$11.44	-1.8%	Com	060505104
—	Hewlett-Packard Company	10,752	$226K	0.1%	$21.02	$21.02	—	Com	428236103
VLY	Valley National Bancorp	21,000	$209K	0.1%	$9.95	$10.10	0.0%	Com	919794107
—	Cliffs Natural Resources Inc.	10,000	$198K	0.1%	$19.80	$19.80	—	COM	18683K101
GENC	Gencor Industries Inc	18,000	$154K	0.1%	$8.56 *	$5.26	0.0%	Com	368678108
NOK	Nokia Corp Spon Adr	11,850	$77,000	0.0%	$6.50	$6.50	—	Sponsored ADR	654902204
—	Antares Pharma Inc	13,750	$56,000	0.0%	$4.07	$4.07	—	Com	036642106
—	Sirius Satellite Radio	13,500	$52,000	0.0%	$3.85	$3.85	—	Com	82967N108