<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 <TEXT> <XML> <?xml version="1.0" encoding="UTF-8"?> <edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/thirteenffiler eis_13F_Filer.xsd" xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> <headerData> <submissionType>13F-HR</submissionType> <filerInfo> <liveTestFlag>LIVE</liveTestFlag> <flags> <confirmingCopyFlag>false</confirmingCopyFlag> <returnCopyFlag>false</returnCopyFlag> <overrideInternetFlag>false</overrideInternetFlag> </flags> <filer> <credentials> <cik>0001384305</cik> <ccc>XXXXXXXX</ccc> </credentials> </filer> <periodOfReport>06-30-2015</periodOfReport> </filerInfo> </headerData> <formData> <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> <tableEntryTotal>302</tableEntryTotal> <tableValueTotal>680065</tableValueTotal> </summaryPage> </formData> </edgarSubmission> </XML> </TEXT> </DOCUMENT> <DOCUMENT> <TYPE>INFORMATION TABLE <SEQUENCE>2 <FILENAME>infotable.xml <TEXT> <XML> <?xml version="1.0" ?> <informationTable xsi:schemaLocation="http://www.sec.gov/edgar/document/thirteenf/informationtable eis_13FDocument.xsd" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:n1="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> <infoTable> <nameOfIssuer>Legacy Reserves LP Cum Red Perp Pfd Units Series B LGCYO-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>524707502</cusip> <value>1943</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>Ag Mortgage Investment Trust Inc MITT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>001228105</cusip> <value>346</value> <shrsOrPrnAmt> <sshPrnamt>20000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>20000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>AG Mtge 8.00% Ser. 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AHP</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>044102101</cusip> <value>4538</value> <shrsOrPrnAmt> <sshPrnamt>302100</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>302100</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Ashford Hospitality Trust Inc AHT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>044103109</cusip> <value>10660</value> <shrsOrPrnAmt> <sshPrnamt>1260000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>1260000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Ashford Inc AINC</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>044104107</cusip> <value>1135</value> <shrsOrPrnAmt> <sshPrnamt>13000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>13000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>BCE INC COM NEW BCE</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>05534B760</cusip> <value>680</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>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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>540000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <infoTable> <nameOfIssuer>CSG Systems International Inc. CSGS</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>126349109</cusip> <value>428</value> <shrsOrPrnAmt> <sshPrnamt>13510</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>13510</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>CSX CORP CSX</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>126408103</cusip> <value>27</value> <shrsOrPrnAmt> <sshPrnamt>825</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <infoTable> <nameOfIssuer>CENTERPOINT ENERGY INC COM CNP</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>15189T107</cusip> <value>5709</value> <shrsOrPrnAmt> <sshPrnamt>300000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>300000</None> </votingAuthority> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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> </shrsOrPrnAmt> <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> </infoTable> <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> </infoTable> <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 & 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> </infoTable> <infoTable> <nameOfIssuer>RR DONNELLEY & 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> </infoTable> <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 & 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> </infoTable> <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> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2820</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Huaneng Power International Inc HNP</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>443304100</cusip> <value>311</value> <shrsOrPrnAmt> <sshPrnamt>5900</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>5900</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>HUNTSMAN CORP HUN</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>447011107</cusip> <value>289</value> <shrsOrPrnAmt> <sshPrnamt>13078</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>13078</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Idacorp Inc IDA</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>451107106</cusip> <value>5614</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>INC Research Holdings Inc. Class A INCR</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>45329R109</cusip> <value>408</value> <shrsOrPrnAmt> <sshPrnamt>10170</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>10170</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>INDIANAPOLIS PWR + LT CO PFD PCT IPWLK-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>455434878</cusip> <value>2979</value> <shrsOrPrnAmt> <sshPrnamt>29345</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>29345</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>INTL BUSINESS MACHINES CORP IBM</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>459200101</cusip> <value>27</value> <shrsOrPrnAmt> <sshPrnamt>165</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>165</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>IRON MOUNTAIN REIT INC IRM</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>46284V101</cusip> <value>78</value> <shrsOrPrnAmt> <sshPrnamt>2515</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2515</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ITC HLDGS CORP COM ITC</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>465685105</cusip> <value>6436</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>Jernigan Capital Inc. JCAP</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>476405105</cusip> <value>8128</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>JOHNSON & JOHNSON COM JNJ</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>478160104</cusip> <value>369</value> <shrsOrPrnAmt> <sshPrnamt>3788</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3788</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>JPMorgan Chase & Co DepShs Series W JPMPP</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>481246700</cusip> <value>141</value> <shrsOrPrnAmt> <sshPrnamt>5690</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>5690</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>JPMorgan Chase & Co Deposit Shs Repr 1/400th 6 1/10 JPRGP-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>48127X542</cusip> <value>1237</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>KLA-TENCOR CORPORATION KLAC</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>482480100</cusip> <value>26</value> <shrsOrPrnAmt> <sshPrnamt>460</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>460</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>KKR & Co. L.P. KKR</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>48248M102</cusip> <value>39</value> <shrsOrPrnAmt> <sshPrnamt>1685</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1685</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>KT Corp KT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>48268K101</cusip> <value>38</value> <shrsOrPrnAmt> <sshPrnamt>3000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>KMI WARRANTS EXP 2017 KMI.WT-USA</nameOfIssuer> <titleOfClass>Warrant</titleOfClass> <cusip>49456B119</cusip> <value>1382</value> <shrsOrPrnAmt> <sshPrnamt>512000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>512000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Kulicke & Soffa Industries Inc. KLIC</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>501242101</cusip> <value>59</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>Kumba Iron Ore Limited Sponsored ADR KIROY</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>50125N104</cusip> <value>11</value> <shrsOrPrnAmt> <sshPrnamt>2760</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2760</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>LBUBS 2006-C6 AAB 50179MAD3</nameOfIssuer> <titleOfClass>Corporate Bond</titleOfClass> <cusip>50179MAD3</cusip> <value>1</value> <shrsOrPrnAmt> <sshPrnamt>50000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>50000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>LBUBS 2004-C1 A4 52108HYK4</nameOfIssuer> <titleOfClass>Corporate Bond</titleOfClass> <cusip>52108HYK4</cusip> <value>0</value> <shrsOrPrnAmt> <sshPrnamt>19000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>19000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Legacy Reserves LP Cum Red Perp Pfd Units Series A LGCYP-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>524707403</cusip> <value>595</value> <shrsOrPrnAmt> <sshPrnamt>29500</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>29500</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>LIBR 2005-1A A1C 0.4876% 11/01/17 530361AE4</nameOfIssuer> <titleOfClass>Corporate Bond</titleOfClass> <cusip>530361AE4</cusip> <value>1499</value> <shrsOrPrnAmt> <sshPrnamt>1500000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1500000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ELI LILLY & CO LLY</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>532457108</cusip> <value>726</value> <shrsOrPrnAmt> <sshPrnamt>8700</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>8700</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>LOCKHEED MARTIN CORP COM LMT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>539830109</cusip> <value>129</value> <shrsOrPrnAmt> <sshPrnamt>695</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>695</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MDU RESOURCES GROUP INC MDU</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>552690109</cusip> <value>10</value> <shrsOrPrnAmt> <sshPrnamt>500</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>500</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MFA Financial Inc MFA</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>55272X102</cusip> <value>428</value> <shrsOrPrnAmt> <sshPrnamt>57865</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>57865</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MKS Instruments Inc. MKSI</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>55306N104</cusip> <value>411</value> <shrsOrPrnAmt> <sshPrnamt>10830</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>10830</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MACQUARIE INFRASTR CO LLC MEMBERSHIP INT MIC</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>55608B105</cusip> <value>131</value> <shrsOrPrnAmt> <sshPrnamt>1580</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1580</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Magnum Hunter Ser E PFD MHR.PRE-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>55973B409</cusip> <value>1125</value> <shrsOrPrnAmt> <sshPrnamt>75000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>75000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MAGNUM HUNTER RESOURCES WARRANTS MHRWW-OTC</nameOfIssuer> <titleOfClass>Warrant</titleOfClass> <cusip>55973B896</cusip> <value>2</value> <shrsOrPrnAmt> <sshPrnamt>140000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>140000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MHLD 7 3/4 % MHNA40-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>56029Q408</cusip> <value>31</value> <shrsOrPrnAmt> <sshPrnamt>1155</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1155</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ManTech International Corporation Class A MANT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>564563104</cusip> <value>58</value> <shrsOrPrnAmt> <sshPrnamt>2000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MASTERCARD INC CL A MA</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>57636Q104</cusip> <value>7478</value> <shrsOrPrnAmt> <sshPrnamt>80000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>80000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Matson Inc. MATX</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>57686G105</cusip> <value>378</value> <shrsOrPrnAmt> <sshPrnamt>9000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>9000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MEDTRONIC INC COM MDT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>585055106</cusip> <value>32</value> <shrsOrPrnAmt> <sshPrnamt>430</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>430</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MERCK & CO INC COM MRK</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>589331107</cusip> <value>28</value> <shrsOrPrnAmt> <sshPrnamt>490</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>490</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>MICROSOFT CORP COM MSFT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>594918104</cusip> <value>44</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>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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>5100</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>NN Inc. NNBR</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>629337106</cusip> <value>4466</value> <shrsOrPrnAmt> <sshPrnamt>175000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>175000</None> </votingAuthority> </infoTable> <infoTable> <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> </infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>59000</None> </votingAuthority> </infoTable> <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> </infoTable> <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> </infoTable> <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> </infoTable> <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&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> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Resource Capital Corp. 8.625% PERP RSO.PRC-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>76120W609</cusip> <value>335</value> <shrsOrPrnAmt> <sshPrnamt>15000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>15000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>REYNOLDS AMERICAN INC RAI</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>761713106</cusip> <value>268</value> <shrsOrPrnAmt> <sshPrnamt>3596</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3596</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Richardson Electronics Ltd. RELL</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>763165107</cusip> <value>170</value> <shrsOrPrnAmt> <sshPrnamt>21000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>21000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1500</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Safeway Casa Ley CVR 786CVR209</nameOfIssuer> <titleOfClass>Warrant</titleOfClass> <cusip>786CVR209</cusip> <value>150</value> <shrsOrPrnAmt> <sshPrnamt>750000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>750000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SAFEWAY PDC LLC CVR 786CVR308</nameOfIssuer> <titleOfClass>Warrant</titleOfClass> <cusip>786CVR308</cusip> <value>53</value> <shrsOrPrnAmt> <sshPrnamt>750000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>750000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Sandridge Mississippian Trust I SDT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>80007T101</cusip> <value>68</value> <shrsOrPrnAmt> <sshPrnamt>15752</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>15752</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SATURN CLO PINEBRIDGE INV 804075AA7</nameOfIssuer> <titleOfClass>Corporate Bond</titleOfClass> <cusip>804075AA7</cusip> <value>8</value> <shrsOrPrnAmt> <sshPrnamt>8192</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>8192</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SCANA Corp. SCG</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>80589M102</cusip> <value>2533</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>SCOTTS MIRACLE-GRO CO-CL A SMG</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>810186106</cusip> <value>110</value> <shrsOrPrnAmt> <sshPrnamt>1854</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1854</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Seaspan Corporation 6.375% SSW.PRD-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>81254u205</cusip> <value>1587</value> <shrsOrPrnAmt> <sshPrnamt>63600</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>63600</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SEMPRA ENERGY COM SRE</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>816851109</cusip> <value>21757</value> <shrsOrPrnAmt> <sshPrnamt>219900</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>219900</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>500000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Shenandoah Telecommun C SHEN</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>82312B106</cusip> <value>22078</value> <shrsOrPrnAmt> <sshPrnamt>644999</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>644999</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>13697</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Skyworks Solutions Inc. SWKS</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>83088M102</cusip> <value>474</value> <shrsOrPrnAmt> <sshPrnamt>4549</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>4549</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Solar Capital Ltd. SLRC</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>83413U100</cusip> <value>142</value> <shrsOrPrnAmt> <sshPrnamt>7880</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>7880</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>75000</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>245000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SVHE 2005-3 M2 MTGE 83611MFN3</nameOfIssuer> <titleOfClass>Corporate Bond</titleOfClass> <cusip>83611MFN3</cusip> <value>4</value> <shrsOrPrnAmt> <sshPrnamt>400000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>400000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SOUTH JERSEY INDUSTRIES SJI</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>838518108</cusip> <value>10</value> <shrsOrPrnAmt> <sshPrnamt>400</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>400</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SOUTHWEST AIRLINES CO LUV</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>844741108</cusip> <value>377</value> <shrsOrPrnAmt> <sshPrnamt>11380</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>11380</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Spark Energy Inc. Class A SPKE</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>846511103</cusip> <value>1986</value> <shrsOrPrnAmt> <sshPrnamt>126000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>126000</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2450</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SPECTRA ENERGY CORP COM SE</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>847560109</cusip> <value>2445</value> <shrsOrPrnAmt> <sshPrnamt>75000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>75000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>STARWOOD PROPERTY TRUST INC STWD</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>85571B105</cusip> <value>540</value> <shrsOrPrnAmt> <sshPrnamt>25020</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>25020</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>STEEL DYNAMICS INC STLD</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>858119100</cusip> <value>408</value> <shrsOrPrnAmt> <sshPrnamt>19706</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>19706</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>STRATEGIC HOTELS & RESORTS INC COM BEE</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>86272T106</cusip> <value>8051</value> <shrsOrPrnAmt> <sshPrnamt>664279</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>664279</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SASC 2006- GEL1 A2 MTGE 863576EF7</nameOfIssuer> <titleOfClass>Corporate Bond</titleOfClass> <cusip>863576EF7</cusip> <value>3</value> <shrsOrPrnAmt> <sshPrnamt>300000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>300000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Sumitomo Mitsui Financial Group Inc SMFG</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>86562M209</cusip> <value>538</value> <shrsOrPrnAmt> <sshPrnamt>60500</sshPrnamt> 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<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>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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>4067</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>freenet AG FRTAF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>D3689Q134</cusip> <value>44</value> <shrsOrPrnAmt> <sshPrnamt>1320</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2518</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <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> </shrsOrPrnAmt> <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> </shrsOrPrnAmt> <putCall>Put</putCall> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>374</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>GDF SUEZ SA GDSZF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>F42768105</cusip> <value>11</value> <shrsOrPrnAmt> <sshPrnamt>600</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>560</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <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> </shrsOrPrnAmt> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>7690</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Everest RE Group Ltd. RE</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G3223R108</cusip> <value>537</value> <shrsOrPrnAmt> <sshPrnamt>2950</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2950</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>GasLog LTD. 8.75% Cum A GLOG.PRA-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>G37585117</cusip> <value>640</value> <shrsOrPrnAmt> <sshPrnamt>25000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>25000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>King Digital Entertainment Plc KING</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G5258J109</cusip> <value>29</value> <shrsOrPrnAmt> <sshPrnamt>2000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Maiden Holdings Ltd. MHLD</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G5753U112</cusip> <value>155</value> <shrsOrPrnAmt> <sshPrnamt>9830</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>9830</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Mallinckrodt Plc MNK</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G5785G107</cusip> <value>478</value> <shrsOrPrnAmt> <sshPrnamt>4058</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>4058</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Micro Focus International plc MCFUF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G6117L178</cusip> <value>39</value> <shrsOrPrnAmt> <sshPrnamt>1945</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1945</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Montpelier Re Holdings Ltd. MRH</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G62185106</cusip> <value>11850</value> <shrsOrPrnAmt> <sshPrnamt>300000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>300000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Nordic American Tankers Limited NAT</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G65773106</cusip> <value>419</value> <shrsOrPrnAmt> <sshPrnamt>29450</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>29450</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Seadrill Ltd SDRL</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G7945E105</cusip> <value>8</value> <shrsOrPrnAmt> <sshPrnamt>820</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>820</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>XL Group Plc XL</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>G98290102</cusip> <value>16</value> <shrsOrPrnAmt> <sshPrnamt>429</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>429</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Itochu Corporation ITOCF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>J2501P104</cusip> <value>19</value> <shrsOrPrnAmt> <sshPrnamt>1375</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1375</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Takeda Pharmaceutical Co. Ltd. TKPHF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>J8129E108</cusip> <value>32</value> <shrsOrPrnAmt> <sshPrnamt>660</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>660</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Cellcom Israel Ltd CEL</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>M2196U109</cusip> <value>57</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>Latinoamericano De Comercio Exterior SA BLX</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>P16994132</cusip> <value>480</value> <shrsOrPrnAmt> <sshPrnamt>14914</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>14914</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <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> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3200</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>National Australia Bank Limited NAUBF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Q65336119</cusip> <value>17</value> <shrsOrPrnAmt> <sshPrnamt>660</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>660</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Sonic Healthcare Limited SKHCF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Q8563C107</cusip> <value>34</value> <shrsOrPrnAmt> <sshPrnamt>2045</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2045</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Southern Cross Media Group Limited SOUTF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Q8571C107</cusip> <value>8</value> <shrsOrPrnAmt> <sshPrnamt>10110</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>10110</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SPDR S&P 500 ETF Trust Put SEP15 205.00 SPY#U#205`</nameOfIssuer> <titleOfClass>Equity Put</titleOfClass> <cusip>123456789</cusip> <value>165</value> <shrsOrPrnAmt> <sshPrnamt>276</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <putCall>Put</putCall> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>276</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Terna S.p.A. TERRF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>T9471R100</cusip> <value>24</value> <shrsOrPrnAmt> <sshPrnamt>5313</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>5313</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <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> <sshPrnamt>100</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <putCall>Call</putCall> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>100</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Williams Companies Inc. Put NOV15 50.00 WMB#W#50</nameOfIssuer> <titleOfClass>Equity Put</titleOfClass> <cusip>123456789</cusip> <value>420</value> <shrsOrPrnAmt> <sshPrnamt>2000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <putCall>Put</putCall> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>2000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Avago Technologies Limited AVGO</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Y0486S104</cusip> <value>385</value> <shrsOrPrnAmt> <sshPrnamt>2900</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2900</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Y2066G120 DSX 8.50% Y2066G120</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y2066G120</cusip> <value>3750</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>Electricity Generating Public Co. Ltd. NVDR EYUUF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Y22834124</cusip> <value>11</value> <shrsOrPrnAmt> <sshPrnamt>2200</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2200</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Industrial and Commercial Bank of China Limited Class H IDCBF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Y3990B112</cusip> <value>30</value> <shrsOrPrnAmt> <sshPrnamt>37915</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>37915</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>PTT Exploration & Production Plc NVDR PEXUF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Y7145P140</cusip> <value>3</value> <shrsOrPrnAmt> <sshPrnamt>2500</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>2500</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>PTT Global Chemical Plc NVDR PGCPF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Y7150W121</cusip> <value>6</value> <shrsOrPrnAmt> <sshPrnamt>3200</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3200</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Safe Bulkers Inc 8 % Cum Red Perp Pfd Shs Series D SBFKF-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y7388L137</cusip> <value>50</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>Scorpio Tankers Inc. 6.75% 15 MAY-2020 STNG4124560-OTC</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y7542C106</cusip> <value>964</value> <shrsOrPrnAmt> <sshPrnamt>40000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>40000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Scorpio Tankers 7.50% Y7542C114</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y7542C114</cusip> <value>5658</value> <shrsOrPrnAmt> <sshPrnamt>223707</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>223707</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SCORPIO BULKERS INC. 7.50% SLTB SALT.PRB-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y7546A114</cusip> <value>105</value> <shrsOrPrnAmt> <sshPrnamt>105000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>105000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Scorpio Bulkers Inc 7 1/2 % Notes 2014-15.9.19 Sr SLTB-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y7546A114</cusip> <value>33</value> <shrsOrPrnAmt> <sshPrnamt>1680</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1680</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Seaspan Corp 8 1/4 % Cum Red Pfd Shs Series E SSW.PRE-USA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y75638133</cusip> <value>1891</value> <shrsOrPrnAmt> <sshPrnamt>75000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>0</Sole> <Shared>0</Shared> <None>75000</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Sun Hung Kai & Co Ltd ADR SHGKF</nameOfIssuer> <titleOfClass>Equity</titleOfClass> <cusip>Y82415103</cusip> <value>16</value> <shrsOrPrnAmt> <sshPrnamt>21000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>21000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>Teekay Offshore Preferred TOO PRA</nameOfIssuer> <titleOfClass>Equity Preference</titleOfClass> <cusip>Y8565J127</cusip> <value>32</value> <shrsOrPrnAmt> <sshPrnamt>1270</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1270</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> </informationTable> </XML> </TEXT> </DOCUMENT> </SEC-DOCUMENT>