<SEC-DOCUMENT>0000891092-15-008348.txt : 20150924
<SEC-HEADER>0000891092-15-008348.hdr.sgml : 20150924
<ACCEPTANCE-DATETIME>20150924110159
ACCESSION NUMBER:		0000891092-15-008348
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150630
FILED AS OF DATE:		20150924
DATE AS OF CHANGE:		20150924
EFFECTIVENESS DATE:		20150924

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Crow Point Partners, LLC
		CENTRAL INDEX KEY:			0001384305
		IRS NUMBER:				205509493

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-12447
		FILM NUMBER:		151122342

	BUSINESS ADDRESS:	
		STREET 1:		10 NEW DRIFTWAY
		STREET 2:		SUITE 203
		CITY:			SCITUATE
		STATE:			MA
		ZIP:			02066-4546
		BUSINESS PHONE:		781-545-5900

	MAIL ADDRESS:	
		STREET 1:		10 NEW DRIFTWAY
		STREET 2:		SUITE 203
		CITY:			SCITUATE
		STATE:			MA
		ZIP:			02066-4546
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
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        <confirmingCopyFlag>false</confirmingCopyFlag>
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      <filer>
        <credentials>
          <cik>0001384305</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
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      <periodOfReport>06-30-2015</periodOfReport>
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    <coverPage>
      <reportCalendarOrQuarter>06-30-2015</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>Crow Point Partners, LLC</name>
        <address>
          <ns1:street1>10 New Driftway</ns1:street1>
          <ns1:street2>Suite 203</ns1:street2>
          <ns1:city>Scituate</ns1:city>
          <ns1:stateOrCountry>MA</ns1:stateOrCountry>
          <ns1:zipCode>02066-4546</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-12447</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Peter DeCaprio</name>
      <title>Managing Director</title>
      <phone>781-875-3185</phone>
      <signature>/s/ Peter DeCaprio</signature>
      <city>Hingham</city>
      <stateOrCountry>MA</stateOrCountry>
      <signatureDate>05-15-2015</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
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      <tableValueTotal>680065</tableValueTotal>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
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    <value>1943</value>
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      <None>100000</None>
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    <nameOfIssuer>Ag Mortgage Investment Trust Inc MITT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
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    <value>346</value>
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    <nameOfIssuer>AG Mtge 8.00% Ser. B MITT PRB</nameOfIssuer>
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    <cusip>001228303</cusip>
    <value>176</value>
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    <nameOfIssuer>AT&amp;T INC COM T</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00206R102</cusip>
    <value>5328</value>
    <shrsOrPrnAmt>
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    <nameOfIssuer>ADTRAN Inc. ADTN</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
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    <value>33</value>
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      <sshPrnamt>2000</sshPrnamt>
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    <nameOfIssuer>AETNA INC NEW COM AET</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00817Y108</cusip>
    <value>807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6331</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6331</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ALABAMA POWER CUM PFD 6.45% ALBMP-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>010392488</cusip>
    <value>1320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>50000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALCOA INC AA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>013817101</cusip>
    <value>271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24313</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLETE Inc. ALE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>018522300</cusip>
    <value>464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALLIANT ENERGY CORP LNT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>018802108</cusip>
    <value>17547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>304000</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>304000</None>
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    <nameOfIssuer>Alteva Inc. ALTV</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02153V102</cusip>
    <value>718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>100000</None>
    </votingAuthority>
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    <nameOfIssuer>AMERESCO INC-CL A AMRC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02361E108</cusip>
    <value>1339</value>
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    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>175000</None>
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    <nameOfIssuer>AMERICAN ELEC PWR INC COM AEP</nameOfIssuer>
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    <value>15230</value>
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      <None>275000</None>
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    <nameOfIssuer>AMERICAN WTR WKS CO INC NEW COM AWK</nameOfIssuer>
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    <cusip>030420103</cusip>
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      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>250000</None>
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    <nameOfIssuer>AMSI 2003-11 AF6 03072SLU7</nameOfIssuer>
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    <cusip>03072SLU7</cusip>
    <value>1</value>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>031162100</cusip>
    <value>564</value>
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      <None>0</None>
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    <value>620</value>
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      <None>0</None>
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    <nameOfIssuer>ANNALY 7.50 %)   PFD NLY PRD</nameOfIssuer>
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    <cusip>035710805</cusip>
    <value>125</value>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>036752103</cusip>
    <value>602</value>
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    <cusip>03761U106</cusip>
    <value>95</value>
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      <None>0</None>
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    <nameOfIssuer>APPLE INC COM AAPL</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>037833100</cusip>
    <value>438</value>
    <shrsOrPrnAmt>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>APPLIED MATERIALS INC AMAT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>038222105</cusip>
    <value>58</value>
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    <votingAuthority>
      <Sole>3000</Sole>
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      <None>0</None>
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    <titleOfClass>Equity Preference</titleOfClass>
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    <value>2736</value>
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      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>110000</None>
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    <nameOfIssuer>Arlington Asset Investment Corp. 6.75% 15-MAR-2025 AI4221733-OTC</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>041356502</cusip>
    <value>600</value>
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      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>20000</None>
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    <nameOfIssuer>Ashford Hospitality Prime Inc. AHP</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>044102101</cusip>
    <value>4538</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>302100</None>
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    <nameOfIssuer>Ashford Hospitality Trust Inc AHT</nameOfIssuer>
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    <cusip>044103109</cusip>
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    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1260000</None>
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    <nameOfIssuer>Ashford Inc AINC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>044104107</cusip>
    <value>1135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>13000</None>
    </votingAuthority>
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    <nameOfIssuer>BCE INC COM NEW BCE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05534B760</cusip>
    <value>680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>16000</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>Bank of China Limited Unsponsored ADR Class H BACHY</nameOfIssuer>
    <titleOfClass>Equity ADR</titleOfClass>
    <cusip>06426M104</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2785</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAXTER INTERNATIONAL INC BAX</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>071813109</cusip>
    <value>38</value>
    <shrsOrPrnAmt>
      <sshPrnamt>540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>540</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BSABS 2005-SD2 2A1 Mtge 073877BQ4</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>073877BQ4</cusip>
    <value>5</value>
    <shrsOrPrnAmt>
      <sshPrnamt>540000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>540000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>Blackhawk Network Holdings Inc Class A HAWK</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09238E104</cusip>
    <value>378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9170</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BHILL 2013-1A D 3.78729% 01/15/26 095560AN8</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>095560AN8</cusip>
    <value>975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BOEING CO COM BA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>097023105</cusip>
    <value>487</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3514</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3514</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BreitBurn Energy Partners L.P. Series A 8.25% Preferreds BBEP.PRA-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>106776115</cusip>
    <value>3909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>185000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BreitBurn Energy Partners L.P. 8.625% 15-OCT-2020 BBEP.AC-OTC</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>106777AB1</cusip>
    <value>4845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5680000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5680000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CMS ENERGY CORP COM CMS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>125896100</cusip>
    <value>20059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>630000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>630000</None>
    </votingAuthority>
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    <nameOfIssuer>CSG Systems International Inc. CSGS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126349109</cusip>
    <value>428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13510</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CSX CORP CSX</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126408103</cusip>
    <value>27</value>
    <shrsOrPrnAmt>
      <sshPrnamt>825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>825</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CVS CAREMARK CORPORATION COM CVS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126650100</cusip>
    <value>551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Capstead Mortgage Corporation CMO</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14067E506</cusip>
    <value>31</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2770</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2770</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARL 2007-10A A2A 0.4516% 04/19/22 14309DAB6</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>14309DAB6</cusip>
    <value>479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>485792</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>485792</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Castlight Health Inc. Class B CSLT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14862Q100</cusip>
    <value>77</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Cato Corporation Class A CATO</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>149205106</cusip>
    <value>376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9693</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTERPOINT ENERGY INC COM CNP</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15189T107</cusip>
    <value>5709</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>300000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURYTEL INC COM CTL</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>156700106</cusip>
    <value>339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11535</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11535</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CHATHAM LODGING CLDT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16208T102</cusip>
    <value>33088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1250000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CHESAPEAKE UTILITIES CORP CPK</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>165303108</cusip>
    <value>16</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>300</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CHEVRON CORP NEW COM CVX</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>166764100</cusip>
    <value>109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CINCINNATI BELL INC NEW COM CBB</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>171871106</cusip>
    <value>74</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CINEMARK USA TERM LOAN 12/18/19 TRANCHE B BBG003P9TKN5</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>172442AM7</cusip>
    <value>0</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1263</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1263</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COLONY FINANCIAL INC CLNY</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19624R106</cusip>
    <value>380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16755</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COMCAST CORP NEW CL A CMCSA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20030N101</cusip>
    <value>13581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>725</Sole>
      <Shared>0</Shared>
      <None>225100</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ComEd Financing III 6.35% 15-MAR-2033 EXC.IU-OTC</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>20035AAA2</cusip>
    <value>1377</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1340000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1340000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONOCOPHILLIPS COM COP</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20825C104</cusip>
    <value>128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONSOLIDATED COMM HLDGS INC COM CNSL</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>209034107</cusip>
    <value>103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Convergys Corp CVG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>212485106</cusip>
    <value>8456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1730</Sole>
      <Shared>0</Shared>
      <None>330000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CorEnergy Infastructure Trust Inc. CORR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21870U205</cusip>
    <value>569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>90000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CROSBY US ACQUISITION CORP TERM LOAN 11/22/20 BBG005HJYLP7</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>22739PAC0</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Customer Bancorp CUBIL-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>23204G308</cusip>
    <value>12</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>450</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DST SYS INC DEL COM DST</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>233326107</cusip>
    <value>504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DTE Energy Co 6.50% (DTZ) DTZ-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>233331602</cusip>
    <value>49</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DTE 5.25% (DTQ) DTQ-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>233331701</cusip>
    <value>81</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3265</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DLH Holdings Corp. DLHC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23335Q100</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO DE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>244199105</cusip>
    <value>32</value>
    <shrsOrPrnAmt>
      <sshPrnamt>330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>330</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEL MONTE FOODS CONSUMER PRODUCTS TERM LOAN 2/18/21 BBG005JV6NL9</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>24521TAB2</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DFCS 1998-I A2 (Deutsche Financial Capital Securitization LL 251547AL9</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>251547AL9</cusip>
    <value>25</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dash2 1A A1L 25513TAA1</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>25513TAA1</cusip>
    <value>664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>668853</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>668853</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOMINION RES INC VA NEW COM D</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25746U109</cusip>
    <value>11722</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>175300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOMTAR CORP UFS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>257559203</cusip>
    <value>327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7908</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>RR DONNELLEY &amp; SONS CO RRD</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>257867101</cusip>
    <value>119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6832</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DUKE ENERGY CORP DUK</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26441C204</cusip>
    <value>2155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30514</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>30514</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQT CORP EQT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26884L109</cusip>
    <value>5987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>73600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQT Midstream Partners LP EQM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26885B100</cusip>
    <value>8154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>100000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CNC CNC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>2807061</cusip>
    <value>572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7110</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EDISON INTL COM EIX</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>281020107</cusip>
    <value>22788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>410000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>410000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELECTRONIC ARTS INC EA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>285512109</cusip>
    <value>436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6551</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc ENB</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29250N105</cusip>
    <value>7019</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>150000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy &amp; Exploration Partners Inc. 8.0% ENXP4143996-OTC</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>29270RAA0</cusip>
    <value>3648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10000000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENGIE SA Sponsored ADR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29286D105</cusip>
    <value>1</value>
    <shrsOrPrnAmt>
      <sshPrnamt>650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>650</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EAE 4.75 %  PFD EAE-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>29364D753</cusip>
    <value>1525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>65000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entergy Arkansas preferred 4.90% PFD EAB-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>29364D761</cusip>
    <value>3948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>0</Shared>
      <None>164335</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTERGY CORP NEW COM ETR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29364G103</cusip>
    <value>667</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8463</Sole>
      <Shared>0</Shared>
      <None>1000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entergy Louisiana 4.70% FMBs ELU-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>29364W603</cusip>
    <value>6852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295483</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>295483</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Eutelsat Communications SA Unsponsored ADR EUTLY</nameOfIssuer>
    <titleOfClass>Equity ADR</titleOfClass>
    <cusip>29888Q108</cusip>
    <value>34</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTHEAST UTILS COM ES</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30040W108</cusip>
    <value>19299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>425000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>425000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXELON CORP COM EXC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30161N101</cusip>
    <value>503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>16000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXXON MOBIL CORP COM XOM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30231G102</cusip>
    <value>453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5443</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FOOT LOCKER INC FL</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>344849104</cusip>
    <value>362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORD MOTOR CO F</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>345370860</cusip>
    <value>68</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FHLT 2005-B MF MTGE 35729PJY7</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>35729PJY7</cusip>
    <value>1</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRONTIER COMMUNICATIONS CORP COM FTR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35906A108</cusip>
    <value>637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>128665</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE CAPITAL MTG SERVICES INC. GECMS 99-HE1 A7</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>36157RD85</cusip>
    <value>12</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11592</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11592</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GSMS 2006-GC6AAB 36228CWW9</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>36228CWW9</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GSAMP 2006-HE8 A2B 3622M8AC0</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>3622M8AC0</cusip>
    <value>5</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GSAMP 2005-SEA2 A1 0.505% 362341TM1</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>362341TM1</cusip>
    <value>90</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93806</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>93806</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GASTAR EXPLORATION 10 3/4% PFD GST.PRB-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>36729P306</cusip>
    <value>1416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>56900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GlaxoSmithKline PLC GSK</nameOfIssuer>
    <titleOfClass>Equity ADR</titleOfClass>
    <cusip>37733W105</cusip>
    <value>36</value>
    <shrsOrPrnAmt>
      <sshPrnamt>860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>860</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREAT PLAINS ENERGY INC COM GXP</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>391164100</cusip>
    <value>9707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>401787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26787</Sole>
      <Shared>0</Shared>
      <None>375000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Green Plains Renewable Energy Inc. GPRE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>393222104</cusip>
    <value>328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11923</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11923</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GreenHunter Resources Inc. GRH</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39530A104</cusip>
    <value>139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201376</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>201376</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Green Hunter Water TWMS PIPE to SER C PFD GRH.PRC-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>39530A203</cusip>
    <value>1196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61786</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>61786</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HASC 2005-NC1 2A3 MTGE 40430HAE8</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>40430HAE8</cusip>
    <value>17</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1700000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halcyon Loan Advisors Funding LTD 40538FAJ2</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>40538FAJ2</cusip>
    <value>12</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>750000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HealthSouth Corporation HLS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>421924309</cusip>
    <value>18</value>
    <shrsOrPrnAmt>
      <sshPrnamt>390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>390</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hercules Technology Growth Capital Inc. 6.25% HTGX</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>427096862</cusip>
    <value>884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>35000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT-PACKARD CO COM HPQ</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>428236103</cusip>
    <value>386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12872</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ashford Hospitality Trust Inc AHT PRD</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>44103406</cusip>
    <value>194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7555</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOSPITALITY PROPERTIES TRUST HPT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44106M102</cusip>
    <value>81</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2820</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2820</Sole>
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      <None>0</None>
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    <cusip>443304100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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    <votingAuthority>
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      <None>0</None>
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    <votingAuthority>
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      <None>0</None>
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      <None>200000</None>
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    <cusip>476405105</cusip>
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    <votingAuthority>
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      <None>400000</None>
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    <votingAuthority>
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      <None>0</None>
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    <cusip>481246700</cusip>
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    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>JPMorgan Chase &amp; Co Deposit Shs Repr 1/400th 6 1/10 JPRGP-USA</nameOfIssuer>
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    <cusip>48127X542</cusip>
    <value>1237</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <None>0</None>
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    <cusip>48248M102</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1685</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <cusip>48268K101</cusip>
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      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>3000</Sole>
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      <None>0</None>
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    <nameOfIssuer>KMI WARRANTS EXP 2017 KMI.WT-USA</nameOfIssuer>
    <titleOfClass>Warrant</titleOfClass>
    <cusip>49456B119</cusip>
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      <sshPrnamt>512000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <None>512000</None>
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      <None>0</None>
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    <nameOfIssuer>Kumba Iron Ore Limited Sponsored ADR KIROY</nameOfIssuer>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2760</Sole>
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      <None>0</None>
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    <nameOfIssuer>LBUBS 2006-C6 AAB 50179MAD3</nameOfIssuer>
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    <cusip>50179MAD3</cusip>
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      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
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      <None>0</None>
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    <nameOfIssuer>LBUBS 2004-C1 A4 52108HYK4</nameOfIssuer>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>Legacy Reserves LP Cum Red Perp Pfd Units Series A LGCYP-USA</nameOfIssuer>
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    <cusip>524707403</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>29500</None>
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    <nameOfIssuer>LIBR 2005-1A A1C 0.4876% 11/01/17 530361AE4</nameOfIssuer>
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    <cusip>530361AE4</cusip>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>ELI LILLY &amp; CO LLY</nameOfIssuer>
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    <cusip>532457108</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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    <nameOfIssuer>LOCKHEED MARTIN CORP COM LMT</nameOfIssuer>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <None>0</None>
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    <cusip>552690109</cusip>
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    <cusip>55272X102</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>MACQUARIE INFRASTR CO LLC MEMBERSHIP INT MIC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55608B105</cusip>
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    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>Magnum Hunter Ser  E PFD MHR.PRE-USA</nameOfIssuer>
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    <cusip>55973B409</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <None>75000</None>
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    <nameOfIssuer>MAGNUM HUNTER RESOURCES WARRANTS MHRWW-OTC</nameOfIssuer>
    <titleOfClass>Warrant</titleOfClass>
    <cusip>55973B896</cusip>
    <value>2</value>
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      <sshPrnamt>140000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>140000</None>
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    <nameOfIssuer>MHLD 7 3/4 % MHNA40-USA</nameOfIssuer>
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    <cusip>56029Q408</cusip>
    <value>31</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1155</Sole>
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      <None>0</None>
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    <nameOfIssuer>ManTech International Corporation Class A MANT</nameOfIssuer>
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    <cusip>564563104</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>0</None>
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    <cusip>57636Q104</cusip>
    <value>7478</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>80000</None>
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    <nameOfIssuer>Matson Inc. MATX</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57686G105</cusip>
    <value>378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
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      <None>0</None>
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    <nameOfIssuer>MEDTRONIC INC COM MDT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>585055106</cusip>
    <value>32</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>430</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>MERCK &amp; CO INC COM MRK</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>589331107</cusip>
    <value>28</value>
    <shrsOrPrnAmt>
      <sshPrnamt>490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>490</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MICROSOFT CORP COM MSFT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>594918104</cusip>
    <value>44</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Morgan Stanley Shs Repr 6 5/8 %Pfd Series G MS.PRG-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>61762V507</cusip>
    <value>132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NN Inc. NNBR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>629337106</cusip>
    <value>4466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>175000</None>
    </votingAuthority>
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    <nameOfIssuer>NATIONAL FUEL GAS CO NFG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>636180101</cusip>
    <value>14723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>250000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Navios Maritime Holdings Inc. Sponsored ADR Class H NMHDF-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>63938Y308</cusip>
    <value>1427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>59000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEW JERSEY RESOURCES CORP NJR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>646025106</cusip>
    <value>11</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>400</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>New Media Investment Group Inc. NEWM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64704V106</cusip>
    <value>345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19265</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>New Senior Investment Group Inc SNR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>648691103</cusip>
    <value>67</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Newcastle Investment Corp 9.75% Pfd NCT PRB</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>65105M207</cusip>
    <value>185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7085</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEXTERA ENERGY INC NEE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65339F101</cusip>
    <value>25488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>260000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NextEra Energy Ser I 5.125% PFD NEE.PRI-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>65339K803</cusip>
    <value>2575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>114000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextera Energy Capital Holdings Inc SER J PFD NEE.PRJ-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>65339K886</cusip>
    <value>1588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>70000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nokia Oyj Sponsored ADR NOK</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>654902204</cusip>
    <value>27</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NAA 2005-AR2 2A2 65535VKDP</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>65535VKDP</cusip>
    <value>0</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1483</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1483</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CROW POINT GLOBAL HEDGED EQUITY INCOME FUND CLASS A CGHIX-USA</nameOfIssuer>
    <titleOfClass>Equity Mutual Fund/Load</titleOfClass>
    <cusip>66538A562</cusip>
    <value>400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>41290</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTHROP GRUMMAN CORP NOC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>666807102</cusip>
    <value>525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3312</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NorthStar Realty Finance Corp NRF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66704R100</cusip>
    <value>2239</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>137500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northstar Rlty Fin Ser B 8.25% PFD NRF.PRB-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>66704R308</cusip>
    <value>24</value>
    <shrsOrPrnAmt>
      <sshPrnamt>970</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>970</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NorthStar Asset Management Corp NSAM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66705Y104</cusip>
    <value>1156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>62500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NorthWestern Corp NWE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>668074305</cusip>
    <value>4993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>102411</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novartis AG NVS</nameOfIssuer>
    <titleOfClass>Equity ADR</titleOfClass>
    <cusip>66987V109</cusip>
    <value>197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2005</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NTELOS HLDGS CORP COM NTLS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67020Q107</cusip>
    <value>69</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUCOR CORP COM NUE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>670346105</cusip>
    <value>387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omega Healthcare Investors Inc OHI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>681936100</cusip>
    <value>334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9716</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9716</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDL BIOPHARMA INC PDLI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69329Y104</cusip>
    <value>412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PG&amp;E CORP COM PCG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69331C108</cusip>
    <value>2701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>55000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PNM RES INC COM PNM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69349H107</cusip>
    <value>19065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>775000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>775000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PPL 5.90 %   PPX PPX-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>69352P202</cusip>
    <value>1515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1170</Sole>
      <Shared>0</Shared>
      <None>60000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PacWest Bancorp</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>695263103</cusip>
    <value>200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>200000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEPCO HOLDINGS INC COM POM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>713291102</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Physicians Realty Trust DOC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71943U104</cusip>
    <value>6144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>400000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Preferred Apartment Communities Inc APTS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74039L103</cusip>
    <value>9950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1000000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PREMIERE GLOBAL SVCS INC COM PGI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>740585104</cusip>
    <value>51</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRINCIPAL FINANCIAL GROUP PFGZP-USA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74251V102</cusip>
    <value>3549</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>35600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL INC COM PRU</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>744320102</cusip>
    <value>619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7075</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PUBLIC SVC ENTERPRISE GROUP COM PEG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>744573106</cusip>
    <value>10523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17890</Sole>
      <Shared>0</Shared>
      <None>250000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quad/Graphics Inc. Class A QUAD</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>747301109</cusip>
    <value>405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21875</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21875</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qwest CTU 7% CTU-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>74913G501</cusip>
    <value>138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5370</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rallye SA Unsponsored ADR RALEY</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>751202102</cusip>
    <value>11</value>
    <shrsOrPrnAmt>
      <sshPrnamt>526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>526</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2006-EMX2 A2 MTGE 75406AAB5</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>75406AAB5</cusip>
    <value>10</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RASC 2003-KS4 AI6 76110WRQ1</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>76110WRQ1</cusip>
    <value>68</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66823</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66823</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAMP 2005-RS1 AI6 MTGE 76112BHY9</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>76112BHY9</cusip>
    <value>4</value>
    <shrsOrPrnAmt>
      <sshPrnamt>350000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>350000</Sole>
      <Shared>0</Shared>
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    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>76120W609</cusip>
    <value>335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>15000</None>
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    <nameOfIssuer>REYNOLDS AMERICAN INC RAI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>761713106</cusip>
    <value>268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>Richardson Electronics Ltd. RELL</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>763165107</cusip>
    <value>170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>SK Telecom Co. Ltd. Sponsored ADR SKM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78440P108</cusip>
    <value>37</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Safeway Casa Ley CVR 786CVR209</nameOfIssuer>
    <titleOfClass>Warrant</titleOfClass>
    <cusip>786CVR209</cusip>
    <value>150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>750000</None>
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    <nameOfIssuer>SAFEWAY PDC LLC CVR 786CVR308</nameOfIssuer>
    <titleOfClass>Warrant</titleOfClass>
    <cusip>786CVR308</cusip>
    <value>53</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>750000</None>
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    <nameOfIssuer>Sandridge Mississippian Trust I SDT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80007T101</cusip>
    <value>68</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>SATURN CLO PINEBRIDGE INV 804075AA7</nameOfIssuer>
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    <cusip>804075AA7</cusip>
    <value>8</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8192</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>SCANA Corp. SCG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80589M102</cusip>
    <value>2533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>50000</None>
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    <nameOfIssuer>SCOTTS MIRACLE-GRO CO-CL A SMG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>810186106</cusip>
    <value>110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1854</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Seaspan Corporation 6.375% SSW.PRD-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>81254u205</cusip>
    <value>1587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63600</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>63600</None>
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    <nameOfIssuer>SEMPRA ENERGY COM SRE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>816851109</cusip>
    <value>21757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>219900</None>
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    <nameOfIssuer>SHACK 2014-5A C1 2.9296% 05/07/26 81881VAJ4</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>81881VAJ4</cusip>
    <value>485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>Shenandoah Telecommun C SHEN</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82312B106</cusip>
    <value>22078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>644999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>644999</None>
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    <nameOfIssuer>Silicon Motion Technology Corporation Sponsored ADR SIMO</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82706C108</cusip>
    <value>474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Skyworks Solutions Inc. SWKS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83088M102</cusip>
    <value>474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Solar Capital Ltd. SLRC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83413U100</cusip>
    <value>142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7880</Sole>
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      <None>0</None>
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    <nameOfIssuer>SOTHERLY HOTELS LP 7.00% SENIOR NOTES DUE 2019 83600E109</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>83600E109</cusip>
    <value>1950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>75000</None>
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    <nameOfIssuer>SOTHERLY HOTELS  8 %   PFD SOHOL-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>83600E208</cusip>
    <value>6407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>245000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
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      <None>245000</None>
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    <nameOfIssuer>SVHE 2005-3 M2 MTGE 83611MFN3</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>83611MFN3</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>400000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SOUTH JERSEY INDUSTRIES SJI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>838518108</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Shared>0</Shared>
      <None>400</None>
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    <nameOfIssuer>SOUTHWEST AIRLINES CO LUV</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>844741108</cusip>
    <value>377</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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    <nameOfIssuer>Spark Energy Inc. Class A SPKE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
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    <shrsOrPrnAmt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>126000</None>
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    <nameOfIssuer>Spark New Zealand Limited Sponsored ADR NZTCY</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84652A102</cusip>
    <value>23</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2450</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>SPECTRA ENERGY CORP COM SE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>847560109</cusip>
    <value>2445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>75000</None>
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    <nameOfIssuer>STARWOOD PROPERTY TRUST INC STWD</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85571B105</cusip>
    <value>540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>STEEL DYNAMICS INC STLD</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>858119100</cusip>
    <value>408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19706</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>STRATEGIC HOTELS &amp; RESORTS INC COM BEE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86272T106</cusip>
    <value>8051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>664279</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>664279</None>
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    <nameOfIssuer>SASC 2006- GEL1 A2 MTGE 863576EF7</nameOfIssuer>
    <titleOfClass>Corporate Bond</titleOfClass>
    <cusip>863576EF7</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Sumitomo Mitsui Financial Group Inc SMFG</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86562M209</cusip>
    <value>538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Summit Hotel Properties Inc INN</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>866082100</cusip>
    <value>5176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>397833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>397833</None>
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    <nameOfIssuer>TECO ENERGY INC TE</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>872375100</cusip>
    <value>883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>50000</None>
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    <nameOfIssuer>Taiwan Semiconductor Manfctrng Cmpny Ltd TSM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>874039100</cusip>
    <value>421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18541</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>TARGET CORP COM TGT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87612E106</cusip>
    <value>531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>TELEFONICA BRASIL S A SPON ADR PFD NEW VIV</nameOfIssuer>
    <titleOfClass>Equity ADR</titleOfClass>
    <cusip>87936R106</cusip>
    <value>216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>15540</Sole>
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      <None>0</None>
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    <nameOfIssuer>Teva Pharmaceutical Industries Limited Sponsored ADR TEVA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>881624209</cusip>
    <value>504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>TRAVELCTRS OF AMER (TANN) 8.25% Sr. Notes 894174200</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>894174200</cusip>
    <value>3261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>125000</None>
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    <nameOfIssuer>TYSON FOODS INC-CL A TSN</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902494103</cusip>
    <value>497</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11664</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>UNITED STATES CELLULAR CORP COM USM</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911684108</cusip>
    <value>6054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160712</sshPrnamt>
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    <nameOfIssuer>United States Cellular Corporation 7.25% 01-DEC-2063 UZB TDS4189939-OTC</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>115000</None>
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    <nameOfIssuer>VALERO ENERGY CORP NEW COM VLO</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91913Y100</cusip>
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    <shrsOrPrnAmt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>Valley National Bancorp Non-Cum Perp Pfd Shs Series A VLNBP-USA</nameOfIssuer>
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    <cusip>919794206</cusip>
    <value>2241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>90000</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Nat Res  7 7/8% (VNRAP) VNRAP-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>92205F205</cusip>
    <value>63</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2520</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard NR LLC 7 5/8 % Pfd Series B VNRPP-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>92205F304</cusip>
    <value>3726</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>150000</None>
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    <nameOfIssuer>VANGUARD NATURAL RESOURCES LLC 7.75% Series C VNRCP</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>92205F403</cusip>
    <value>2900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>840</Sole>
      <Shared>0</Shared>
      <None>120644</None>
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    <nameOfIssuer>Vector Group Ltd. VGR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92240M108</cusip>
    <value>600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25568</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25568</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>VERIZON COMMUNICATIONS COM VZ</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92343V104</cusip>
    <value>11251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>241395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>104</Sole>
      <Shared>0</Shared>
      <None>241291</None>
    </votingAuthority>
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    <nameOfIssuer>VISA INC COM CL A V</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92826C839</cusip>
    <value>18466</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>275000</None>
    </votingAuthority>
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    <nameOfIssuer>Vodafone Group Plc Sponsored ADR VOD</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92857W308</cusip>
    <value>9784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>268434</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18434</Sole>
      <Shared>0</Shared>
      <None>250000</None>
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    <nameOfIssuer>WESTAR ENERGY INC COM WR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>95709T100</cusip>
    <value>35</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1010</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1010</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>WESTERN DIGITAL CORP WDC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>958102105</cusip>
    <value>67</value>
    <shrsOrPrnAmt>
      <sshPrnamt>850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>850</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>WESTERN REFINING INC WNR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>959319104</cusip>
    <value>519</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11909</Sole>
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      <None>0</None>
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    <nameOfIssuer>WESTERN UNION CO WU</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>959802109</cusip>
    <value>448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22028</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22028</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Wheeler Real Estate Investment Trust, Inc. WHLR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>963025101</cusip>
    <value>10150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5000000</None>
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    <nameOfIssuer>WILLIAMS COS INC DEL COM WMB</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>969457100</cusip>
    <value>21234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>370000</None>
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  <infoTable>
    <nameOfIssuer>Wintrust Financial Corp Ser D PFD WFTC-PRD-USA</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>97650W405</cusip>
    <value>100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>100000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENHUNTER WATER WARRANTS ACI06TGH1</nameOfIssuer>
    <titleOfClass>Warrant</titleOfClass>
    <cusip>ACI06TGH1</cusip>
    <value>79</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96112</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>96112</None>
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  <infoTable>
    <nameOfIssuer>Ellington Financial EFC</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>B503CB8</cusip>
    <value>429</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23163</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Home Loan Servicing Solutions Ltd HLSS</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>B731MH9</cusip>
    <value>1</value>
    <shrsOrPrnAmt>
      <sshPrnamt>736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>736</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>DELL INTERNATIONAL TERM LOAN 4/29/2020 BBG0043R5K08</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG0043R5</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GARDNER DENVER TERM LOAN 7/30/2020 BBG00475SMF7</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG00475S</cusip>
    <value>249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>248747</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>248747</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENPACT INTERNATIONAL TERM LOAN 08/30/19 BBG004MP5Q26</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG004MP5</cusip>
    <value>249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>249372</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>249372</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>BOOZ ALLEN &amp; HAMILTON TERM LOAN 7/31/2019 BBG004Y8C912</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG004Y8C</cusip>
    <value>251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Valeant Pharmaceuticals Term Loan 2/13/19 BBG0058046R2</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG005804</cusip>
    <value>218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217714</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>217714</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HILTON WORLDWIDE FIN TERM LOAN 10/25/2020 BBG0058KTHW1</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG0058KT</cusip>
    <value>23676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>237500</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>237500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENDO LUXEMBOURG FINANCE TERM LOAN 12/12/2020 BBG005K2ZCY9</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG005K2Z</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHS/COMMUNITY HEALTH SYS IN 1/25/17 BBG005VLVZ32</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG005VLV</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>GRIFIOL WORLDWIDE OPERATIONS TERM LOAN 4/1/21 BBG00635YML2</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG00635Y</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOLOGIC TERM LOAN TRANCHE B  8/1/19 BBG0607NYM6</nameOfIssuer>
    <titleOfClass>BankDebt</titleOfClass>
    <cusip>BBG0607NY</cusip>
    <value>4</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4067</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4067</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>freenet AG FRTAF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>D3689Q134</cusip>
    <value>44</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iberdrola SA IBDSF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>E6165F166</cusip>
    <value>17</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares MSCI Emerging Markets ETF Put SEP15 41.00 EEM#U#41</nameOfIssuer>
    <titleOfClass>Equity Put</titleOfClass>
    <cusip>123456789</cusip>
    <value>49</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>227</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI EAFE ETF Put SEP15 64.00 EFA#U#64</nameOfIssuer>
    <titleOfClass>Equity Put</titleOfClass>
    <cusip>123456789</cusip>
    <value>92</value>
    <shrsOrPrnAmt>
      <sshPrnamt>374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>374</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GDF SUEZ SA GDSZF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>F42768105</cusip>
    <value>11</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rallye SA RLYNF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>F43743107</cusip>
    <value>17</value>
    <shrsOrPrnAmt>
      <sshPrnamt>560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Aspen Insurance Holdings Ltd 7.25% Ser B AHL PRB</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>G05384147</cusip>
    <value>177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6665</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Endurance Specialty Holdings Ltd. ENH</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G30397106</cusip>
    <value>505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7690</Sole>
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      <None>0</None>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>0</None>
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    <titleOfClass>Equity Preference</titleOfClass>
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      <Shared>0</Shared>
      <None>25000</None>
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    <titleOfClass>Equity</titleOfClass>
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    <value>29</value>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>G5753U112</cusip>
    <value>155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9830</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>Mallinckrodt Plc MNK</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5785G107</cusip>
    <value>478</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>4058</Sole>
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      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>G6117L178</cusip>
    <value>39</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1945</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>G62185106</cusip>
    <value>11850</value>
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      <sshPrnamt>300000</sshPrnamt>
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      <Shared>0</Shared>
      <None>300000</None>
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    <titleOfClass>Equity</titleOfClass>
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    <value>419</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>G7945E105</cusip>
    <value>8</value>
    <shrsOrPrnAmt>
      <sshPrnamt>820</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>820</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>G98290102</cusip>
    <value>16</value>
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      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>J2501P104</cusip>
    <value>19</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>Takeda Pharmaceutical Co. Ltd. TKPHF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>J8129E108</cusip>
    <value>32</value>
    <shrsOrPrnAmt>
      <sshPrnamt>660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>660</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>M2196U109</cusip>
    <value>57</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Latinoamericano De Comercio Exterior SA BLX</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>P16994132</cusip>
    <value>480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14914</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14914</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Copa Holdings S.A. Class A CPA</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>P31076105</cusip>
    <value>264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>Q65336119</cusip>
    <value>17</value>
    <shrsOrPrnAmt>
      <sshPrnamt>660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>660</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>Q8563C107</cusip>
    <value>34</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>Q8571C107</cusip>
    <value>8</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity Put</titleOfClass>
    <cusip>123456789</cusip>
    <value>165</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>T9471R100</cusip>
    <value>24</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <None>0</None>
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    <nameOfIssuer>United States Oil Fund LP Call OCT15 19.00 USO#J#19</nameOfIssuer>
    <titleOfClass>Equity Call</titleOfClass>
    <cusip>123456789</cusip>
    <value>19</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity Put</titleOfClass>
    <cusip>123456789</cusip>
    <value>420</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <Shared>0</Shared>
      <None>2000</None>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>Y0486S104</cusip>
    <value>385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>Y2066G120</cusip>
    <value>3750</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>150000</None>
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    <nameOfIssuer>Electricity Generating Public Co. Ltd. NVDR EYUUF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y22834124</cusip>
    <value>11</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>Industrial and Commercial Bank of China Limited Class H IDCBF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y3990B112</cusip>
    <value>30</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>PTT Exploration &amp; Production Plc NVDR PEXUF</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y7145P140</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <cusip>Y7150W121</cusip>
    <value>6</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <cusip>Y7388L137</cusip>
    <value>50</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>50000</None>
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    <nameOfIssuer>Scorpio Tankers Inc. 6.75% 15 MAY-2020 STNG4124560-OTC</nameOfIssuer>
    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>Y7542C106</cusip>
    <value>964</value>
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      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40000</None>
    </votingAuthority>
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    <titleOfClass>Equity Preference</titleOfClass>
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    <value>5658</value>
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      <sshPrnamt>223707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>223707</None>
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    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>Y7546A114</cusip>
    <value>105</value>
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      <sshPrnamt>105000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
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    <titleOfClass>Equity Preference</titleOfClass>
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    <value>33</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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    <titleOfClass>Equity Preference</titleOfClass>
    <cusip>Y75638133</cusip>
    <value>1891</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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    <nameOfIssuer>Sun Hung Kai &amp; Co Ltd ADR SHGKF</nameOfIssuer>
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    <cusip>Y82415103</cusip>
    <value>16</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <cusip>Y8565J127</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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</SEC-DOCUMENT>