Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	POWERSHARES SENIOR LOAN	1,323,818	$32.92M	10.7%	$24.79	—	CONV BONDS	73936Q769
EPD	ENTERPRISE PRODS PARTNERS L COM UNIT	318,957	$24.97M	8.1%	$62.55	—	COM	293792107
—	MAGELLAN MIDSTREAM PARTNERS LP	180,821	$15.2M	5.0%	$57.01	—	COM	559080106
—	JPMORGAN CHASE & CO ALERIAN ML ETN	258,771	$13.55M	4.4%	$48.01	—	CONV BONDS	46625H365
—	ALPINE TOTAL DYNAMIC DIVIDEND FUND	1,468,515	$13.1M	4.3%	$8.42	—	CONV BONDS	021060207
—	TARGA RESOURCES PARTNERS LP COM UNIT	173,801	$12.5M	4.1%	$50.45	—	COM	87611X105
—	STERLING BANCORP	746,030	$8.952M	2.9%	$13.19	—	COM	85917A100
—	AMERICAN MIDSTREAM PARTNERS LLP	308,267	$8.89M	2.9%	$26.50	—	COM	02752P100
PAA	PLAINS ALL AMERN PIPELINE L UNIT L P INT	146,136	$8.775M	2.9%	$55.81	—	COM	726503105
—	PLAINS GP HOLDINGS LP-CL A	262,071	$8.384M	2.7%	$28.16	—	COM	72651A108
—	RAIT FINANCIAL TRUST	995,598	$8.234M	2.7%	$7.82	—	COM	749227609
WMB	WILLIAMS COS INC	138,745	$8.076M	2.6%	$18.27	+32.3%	COM	969457100
—	MEDLEY CAP CORP	615,100	$8.033M	2.6%	$13.52	—	COM	58503F106
—	TWO HBRS INVT CORP	724,810	$7.596M	2.5%	$10.28	—	COM	90187B101
—	TALLGRASS ENERGY PARTNERS LP	193,870	$7.522M	2.5%	$24.52	—	COM	874697105
—	WESTERN GAS PARTNERS LP UNIT LP IN	91,643	$7.009M	2.3%	$64.89	—	COM	958254104
HFWA	HERITAGE FINANCIAL CORP	411,866	$6.627M	2.2%	$16.57	-2.0%	COM	42722X106
—	OAKTREE CAPITAL GROUP LLC	128,440	$6.421M	2.1%	$53.87	—	COM	674001201
—	ENABLE MIDSTREAM PARTNERS LP	243,645	$6.381M	2.1%	$26.19	—	COM	292480100
—	NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND	241,770	$5.948M	1.9%	$24.60	—	CONV BONDS	670735109
JSAIY	J. SAINSBURY PLC-SPONS ADR	249,800	$5.39M	1.8%	$21.58	—	COM	466249208
CBU	COMMUNITY BANK SYSTEM INC.	142,341	$5.153M	1.7%	$23.79	+8.1%	COM	203607106
—	BRYN MAWR BANK CORP	170,334	$4.96M	1.6%	$29.81	—	COM	117665109
—	ENSCO PLC SPONSORED ADR	89,229	$4.958M	1.6%	$55.56	—	COM	G3157S106
—	PROSHARES TR PSHS SHRT S&P5	197,620	$4.616M	1.5%	$25.71	—	CONV BONDS	74347R503
—	DOW CHEMICAL CORP	88,117	$4.535M	1.5%	$51.47	—	COM	260543103
—	PIMCO DYNAMIC INC FUND	131,960	$4.499M	1.5%	$34.09	—	CONV BONDS	72201Y101
CHMI	CHERRY HILL MORTGAGE INVESTMENT	209,627	$4.203M	1.4%	$19.13	—	COM	164651101
—	NEW MEDIA INVESTMENT GROUP	296,518	$4.184M	1.4%	$14.91	—	COM	64704V106
—	KRAFT FOOD GROUP	69,727	$4.18M	1.4%	$56.01	—	COM	50076Q106
WHG	WESTWOOD HOLDINGS GROUP, INC.	66,748	$4.008M	1.3%	$55.78	+5.2%	COM	961765104
PFE	PFIZER INC	127,368	$3.78M	1.2%	$17.49	+0.3%	COM	717081103
TR	TOOTSIE ROLL INDUSTRIES, INC.	110,397	$3.25M	1.1%	$23.35	-5.7%	COM	890516107
OXY	OCCIDENTAL PETE CORP	29,142	$2.991M	1.0%	$66.18	0.0%	COM	674599105
WMT	WAL MART STORES INC	27,614	$2.073M	0.7%	$19.98	+2.7%	COM	931142103
—	WILLIAMS PARTNERS LP	26,869	$1.459M	0.5%	$51.60	—	COM	96950F104
AXP	AMERICAN EXPRESS CO	12,500	$1.186M	0.4%	$63.24	+20.8%	COM	025816109
—	TEEKAY OFFSHORE PARTNERS LP PARTNERSHIP UN	32,352	$1.168M	0.4%	$32.46	—	COM	Y8565J101
MDLZ	MONDELEZ INTERNATIONAL INC	29,820	$1.122M	0.4%	$23.16	+22.2%	COM	609207105
JNJ	JOHNSON & JOHNSON	9,119	$954K	0.3%	$59.70	+22.5%	COM	478160104
DLTR	DOLLAR TREE INC	16,700	$909K	0.3%	$48.73	+7.9%	COM	256746108
—	ONEOK PARTNERS L P	14,600	$856K	0.3%	$51.65	—	COM	68268N103
—	KINDER MORGAN EGY PTNS L P UT LTD PT INT	8,780	$722K	0.2%	$85.37	—	COM	494550106
AAPL	APPLE COMPUTER INC	7,609	$707K	0.2%	$18.18	+2.6%	COM	037833100
ET	ENERGY TRANSFER EQUITY L P UT LTD PTN	12,000	$707K	0.2%	$53.58	—	COM	29273V100
XOM	EXXON MOBIL CORP	6,775	$682K	0.2%	$53.69	+15.2%	COM	30231G102
—	EL PASO PIPELINE PARTNERS	18,195	$659K	0.2%	$43.65	—	COM	283702108
—	CRESTWOOD EQUITY PARTNERS LP	42,490	$632K	0.2%	$13.84	—	COM	226344109
—	FERRELLGAS PARTNERS L P UNIT LTD PRTNRS	20,659	$565K	0.2%	$21.64	—	COM	315293100
—	REGENCY ENERGY PARTNERS LP	17,410	$561K	0.2%	$27.22	—	COM	75885Y107
—	CELGENE CORP	6,020	$517K	0.2%	$101.44	—	COM	151020104
—	DCP MIDSTREAM PARTNERS LP UT LTD PTN	9,000	$513K	0.2%	$51.00	—	COM	23311P100
VZ	VERIZON COMMUNICATIONS	10,475	$513K	0.2%	$27.03	-0.9%	COM	92343V104
—	PLAYMATES HOLDINGS	410,000	$504K	0.2%	$1.08	—	COM	034832960
—	HOWARD BANCORP	48,200	$464K	0.2%	$9.22	—	COM	442496105
BGS	B & G FOODS INC NEW CL A	14,115	$461K	0.2%	$14.09	-1.5%	COM	05508R106
—	GOOGLE INC CL C	783	$450K	0.1%	$574.71	—	COM	38259P706
OXBR	OXBRIDGE RE HOLDINGS LTD	83,341	$448K	0.1%	$6.36	0.0%	COM	G6856M106
—	KINDER MORGAN MANAGEMENT LLCSHS	5,129	$405K	0.1%	$83.47	—	COM	49455U100
—	GOOGLE INC	693	$405K	0.1%	$584.42	—	COM	38259P508
PG	PROCTER & GAMBLE COMPANY	5,112	$402K	0.1%	$55.00	+6.0%	COM	742718109
—	EV ENERGY PARTNERS LP	10,000	$396K	0.1%	$37.40	—	COM	26926V107
PM	PHILIP MORRIS INTL INC	4,680	$395K	0.1%	$44.74	+7.8%	COM	718172109
—	CRESTWOOD MIDSTREAM PARTNERS LP	17,572	$388K	0.1%	$24.87	—	COM	226378107
IBM	I B M	2,109	$382K	0.1%	$118.94	-5.6%	COM	459200101
CAT	CATERPILLAR INC	3,114	$338K	0.1%	$61.55	+26.8%	COM	149123101
—	MARKWEST ENERGY PARTNERS L PUNIT LTD PARTN	4,500	$322K	0.1%	$66.89	—	COM	570759100
META	FACEBOOK INC	4,500	$303K	0.1%	$36.96	+65.3%	COM	30303M102
AMP	AMERIPRISE FINL INC	2,400	$288K	0.1%	$68.12	+28.6%	COM	03076C106
—	Nuveen Dividend Advantage Municipal Income Fund	20,000	$283K	0.1%	$13.34	—	CONV BONDS	67071L106
GEL	GENESIS ENERGY LP	5,000	$280K	0.1%	$51.80	—	COM	371927104
—	BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN	12,000	$265K	0.1%	$18.25	—	COM	106776107
MRK	MERCK & COMPANY	4,546	$263K	0.1%	$30.02	+26.5%	COM	58933Y105
PCYO	Pure Cycle Corp	38,900	$263K	0.1%	$6.27	-8.9%	COM	746228303
—	TIME WARNER INC COM	3,699	$260K	0.1%	$57.83	—	COM	887317303
—	SENIOR HSG PPTYS TR SH BEN INT	10,500	$255K	0.1%	$25.93	—	COM	81721M109
T	A T & T INC (NEW)	6,843	$242K	0.1%	$11.39	+3.4%	COM	00206R102
—	ENLINK MIDSTREAM PARTNERS LP	7,500	$236K	0.1%	$31.47	—	COM	29336U107
FNMA	FEDERAL NAT MORTGAGE ASSN	60,000	$235K	0.1%	$4.14	0.0%	COM	313586109
DVY	ISHARES DJ SELECT DIVIDEND INDEX FUND	3,015	$232K	0.1%	$73.76	—	CONV BONDS	464287168
—	E M C CORP MASS	8,800	$232K	0.1%	$23.64	—	COM	268648102
COST	COSTCO WHOLESALE CORP	2,000	$230K	0.1%	$86.56	+6.1%	COM	22160K105
—	NUSTAR GP HOLDINGS LLC UNITS	5,869	$230K	0.1%	$39.19	—	COM	67059L102
—	BUCKEYE PARTNERS L P	2,648	$220K	0.1%	$83.08	—	COM	118230101
—	GLOBAL EAGLE ENTERTAINMENT INC	10,000	$124K	0.0%	$15.80	—	COM	37951D102
—	1347 PROPERTY INSURANCE HOLDINGS, INC.	12,300	$110K	0.0%	$8.94	—	COM	68244P107
—	RITE AID CORP	15,000	$108K	0.0%	$5.07	—	COM	767754104
—	WHEELER REAL ESTATE INV. TRUST INC.	20,000	$95,000	0.0%	$4.75	—	COM	963025101
—	SINGING MACH INC	358,500	$61,000	0.0%	$0.22	—	COM	829322304
—	ECOSPHERE TECH INC	173,012	$31,000	0.0%	$0.35	—	COM	27922X105
KRED	Konared Corp	35,000	$19,000	0.0%	$0.84	-26.2%	COM	50048Y104
—	MOBIQUITY TECHNOLOGIES INC.	21,000	$9,000	0.0%	$0.48	—	COM	60743F102
—	THORNBURG MTG INC NEW	100,000	$0	0.0%	—	—	COM	885218800