The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BANK OF AMERICA 7.25 CNV PFD L 060505682 1,076 900 SH   SOLE   900 0 0
FELCOR LODGING TRUST INC. PFD CV A $1.95 31430F200 966 39,700 SH   SOLE   39,700 0 0
IRIDIUM COMMUNICATIONS PERP PFD CNV B 46269C409 3,587 10,580 SH   SOLE   10,580 0 0
WELLS FARGO COMPANY PERP PFD CNV A 949746804 8,730 7,069 SH   SOLE   7,069 0 0
WELLTOWER INC 6.50 PFD PREPET 95040Q203 16,372 259,529 SH   SOLE   259,529 0 0
APOLLO SENIOR FLOATING RATE COM 037636107 254 14,507 SH   SOLE   14,507 0 0
BLACKROCK DEBT STRATEGIES FUND COM NEW 09255R202 584 50,668 SH   SOLE   50,668 0 0
BROOKFIELD REAL ASSETS INCOME FUND SHS BEN INT 112830104 828 36,347 SH   SOLE   36,347 0 0
CLEAR CHANNEL OUTDOOR HOLDINGS INC CL A 18451C109 285 47,129 SH   SOLE   47,129 0 0
COHEN STEERS CLOSED-END OPPORTUNITY FUND COM 19248P106 608 49,031 SH   SOLE   49,031 0 0
COHEN STEERS INFRASTRUCTURE FUND COM 19248A109 577 26,758 SH   SOLE   26,758 0 0
COLONY NORTHSTAR CL A COM 19625W104 1,100 85,174 SH   SOLE   85,174 0 0
CUMULUS MEDIA INC CL A NEW 231082603 225 700,576 SH   SOLE   700,576 0 0
DUFF PHELPS GLOBAL UTILITY INCOME FUND COM 26433C105 550 33,833 SH   SOLE   33,833 0 0
DURECT CORPORATION COM 266605104 268 255,000 SH   SOLE   255,000 0 0
EATON VANCE LIMITED DURATION INCOME FUND COM 27828H105 3,488 252,198 SH   SOLE   252,198 0 0
EATON VANCE SHORT DURATION DIVERSIFIED INC FUND COM 27828V104 263 18,602 SH   SOLE   18,602 0 0
EMMIS COMMUNICATIONS COM NEW CL A 291525400 1,974 805,754 SH   SOLE   805,754 0 0
GABELLI CONVERTIBLE AND INCOME FUND COM SH BEN INT 36242L105 564 30,347 SH   SOLE   30,347 0 0
GDL FUND COM SH BEN IT 361570104 1,085 110,269 SH   SOLE   110,269 0 0
KEYCORP COM 493267108 5,197 292,273 SH   SOLE   292,273 0 0
NUVEEN CREDIT STRATEGIES INCOME FUND COM SHS 67073D102 2,640 303,805 SH   SOLE   303,805 0 0
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND COM 67074X107 54 3,007 SH   SOLE   3,007 0 0
PIONEER FLOATING RATE TRUST COM 72369J102 584 47,798 SH   SOLE   47,798 0 0
RADIO ONE INC CL D NON VTG 75040P405 5,787 1,753,784 SH   SOLE   1,753,784 0 0
SIRIUS XM RADIO INC COM 82968B103 515 100,000 SH   SOLE   100,000 0 0
KINDER MORGAN ENERGY PARTNERS *W EXP 05/25/201 49456B119 30 12,576,332 SH   SOLE   12,576,332 0 0
EASTMAN KODAK *W EXP 09/03/201 277461133 16 11,128 SH   SOLE   11,128 0 0
EASTMAN KODAK *W EXP 09/03/201 277461141 12 11,700 SH   SOLE   11,700 0 0
BANK OF AMERICA *W EXP 01/16/201 060505146 1,187 105,000 SH   SOLE   105,000 0 0
GENERAL MOTORS CORP *W EXP 07/10/201 37045V126 11,487 643,467 SH   SOLE   643,467 0 0
AMERICAN INTERNATIONAL GROUP *W EXP 01/19/202 026874156 227 10,610 SH   SOLE   10,610 0 0
ACETO CORP NOTE 2.000 11/0 004446AD2 15,485 16,809,000 PRN   SOLE   0 0 0
AIR LEASE CORPORATION NOTE 3.875 12/0 00912XAK0 63,716 44,479,000 PRN   SOLE   0 0 0
AKAMAI TECH DBCV 2/1 00971TAG6 12,912 13,010,000 PRN   SOLE   0 0 0
ALON USA ENERGY INC. NOTE 3.000 9/1 020520AB8 23,770 21,559,000 PRN   SOLE   0 0 0
JOHNSON JOHNSON SDCV 7/2 02261WAB5 76,248 44,535,000 PRN   SOLE   0 0 0
AMERICAN REALTY CAPITAL PROPERTIES INC. NOTE 3.000 8/0 02917TAA2 1,003 1,000,000 PRN   SOLE   0 0 0
AMYRIS NOTE 6.500 5/1 03236MAC5 8,488 15,432,000 PRN   SOLE   0 0 0
ARBOR REALTY TRUST NOTE 6.500 10/0 038923AA6 1,314 1,250,000 PRN   SOLE   0 0 0
B2GOLD CORPORATION NOTE 3.250 10/0 11777QAB6 15,221 14,285,000 PRN   SOLE   0 0 0
CSG SYSTEMS INTERNATIONAL INC NOTE 4.250 3/1 126349AF6 9,119 8,800,000 PRN   SOLE   0 0 0
CARRIAGE SERVICES NOTE 2.750 3/1 143905AM9 26,085 20,017,000 PRN   SOLE   0 0 0
CITRIX SYSTEMS INC. NOTE 0.500 4/1 177376AD2 96,791 77,207,000 PRN   SOLE   0 0 0
CLOVIS ONCOLOGY INC. NOTE 2.500 9/1 189464AB6 3,680 2,850,000 PRN   SOLE   0 0 0
COLONY NORTHSTAR NOTE 5.000 4/1 19624RAA4 3,026 3,020,000 PRN   SOLE   0 0 0
COLONY NORTHSTAR NOTE 3.875 1/1 19624RAB2 36,512 36,955,000 PRN   SOLE   0 0 0
CORENERGY INFRASTRUCTURE TRUST NOTE 7.000 6/1 21870UAA4 24,084 21,540,000 PRN   SOLE   0 0 0
COWEN GROUP INC. NOTE 3.000 3/1 223622AB7 29,081 28,687,000 PRN   SOLE   0 0 0
CTRIP.COM INTERNATIONAL LTD NOTE 1.990 7/0 22943FAH3 2,087 1,800,000 PRN   SOLE   0 0 0
DEPOMED INC. NOTE 2.500 9/0 249908AA2 753 800,000 PRN   SOLE   0 0 0
DYCOM INDUSTRIES INC NOTE 0.750 9/1 267475AB7 51,092 43,668,000 PRN   SOLE   0 0 0
ELECTRONICS FOR IMAGING NOTE 0.750 9/0 286082AC6 5,954 5,450,000 PRN   SOLE   0 0 0
ENERNOC INC. DBCV 2.250 8/1 292764AB3 17,183 19,980,000 PRN   SOLE   0 0 0
EURONET WORLDWIDE INC NOTE 1.500 10/0 298736AH2 47,817 37,744,000 PRN   SOLE   0 0 0
GLOBAL BROKERAGE INC. NOTE 2.250 6/1 302693AB2 1,776 4,735,000 PRN   SOLE   0 0 0
FINISAR CORPORATION NOTE 0.500 12/1 31787AAM3 25,918 23,000,000 PRN   SOLE   0 0 0
GSV CAPITAL CORP. NOTE 5.250 9/1 36191JAB7 1,831 1,845,000 PRN   SOLE   0 0 0
GLOBAL EAGLE ENTERTAINMENT INC. NOTE 2.750 2/1 37951DAB8 2,564 4,705,000 PRN   SOLE   0 0 0
GREENBRIER COMPANIES NOTE 3.500 4/0 393657AH4 29,117 22,528,000 PRN   SOLE   0 0 0
HARMONIC INC NOTE 4.000 12/0 413160AB8 17,045 13,707,000 PRN   SOLE   0 0 0
HORIZON GLOBAL NOTE 2.750 7/0 44052WAA2 14,640 16,000,000 PRN   SOLE   0 0 0
HORNBECK OFFSHORE SERVICES INC NOTE 1.500 9/0 440543AN6 1,069 1,605,000 PRN   SOLE   0 0 0
TELIGENT INC NOTE 3.750 12/1 449575AB5 13,999 13,912,000 PRN   SOLE   0 0 0
ICONIX BRAND GROUP INC NOTE 1.500 3/1 451055AF4 5,623 5,880,000 PRN   SOLE   0 0 0
INTEGRATED DEVICE TECH NOTE 0.875 11/1 458118AC0 403 400,000 PRN   SOLE   0 0 0
INTEL CORP SDCV 12/1 458140AD2 39,023 28,680,000 PRN   SOLE   0 0 0
INTEL CORPORATION SDCV 3.250 8/0 458140AF7 60,883 34,802,000 PRN   SOLE   0 0 0
INTERDIGITAL INC NOTE 1.500 3/0 458660AD9 5,218 4,000,000 PRN   SOLE   0 0 0
JANUS CAPITAL GROUP INC NOTE 0.750 7/1 47102XAH8 70,074 53,541,000 PRN   SOLE   0 0 0
KEYW HOLDING CORP. NOTE 2.500 7/1 493723AA8 8,814 9,110,000 PRN   SOLE   0 0 0
LAM RESEARCH CORPORATION NOTE 1.250 5/1 512807AL2 2,538 1,200,000 PRN   SOLE   0 0 0
LIBERTY MEDIA DEB 3.750 2/1 530715AL5 806 1,310,000 PRN   SOLE   0 0 0
LIBERTY MEDIA CORPORATION NOTE 1.375 10/1 531229AB8 101,435 89,323,000 PRN   SOLE   0 0 0
MACQUARIE INFRASTRUCTURE COMPANY LLC NOTE 2.875 7/1 55608BAA3 54,485 48,458,000 PRN   SOLE   0 0 0
MACQUARIE INFRASTRUCTURE NOTE 2.000 10/0 55608BAB1 5,428 5,525,000 PRN   SOLE   0 0 0
MICROCHIP TECHNOLOGY INC NOTE 1.625 2/1 595017AD6 22,112 15,402,000 PRN   SOLE   0 0 0
MODUSLINK GLOBAL SOLUTIONS INC. NOTE 5.250 3/0 60786LAB3 658 700,000 PRN   SOLE   0 0 0
MOLINA HEALTHCARE INC DBCV 1.625 8/1 60855RAD2 25,940 24,400,000 PRN   SOLE   0 0 0
NATIONAL HEALTH INVESTORS INC. NOTE 3.250 4/0 63633DAE4 23,542 21,217,000 PRN   SOLE   0 0 0
PDL BIOPHARMA INC NOTE 4.000 2/0 69329YAF1 2,067 2,080,000 PRN   SOLE   0 0 0
PDL BIOPHARMA INC NOTE 2.750 12/0 69329YAG9 8,389 9,560,000 PRN   SOLE   0 0 0
PALO ALTO NETWORKS INC. NOTE 7/0 697435AB1 17,145 14,400,000 PRN   SOLE   0 0 0
PERNIX THERAPEUTICS HOLDINGS DBCV 4.250 4/0 71426VAK4 550 2,000,000 PRN   SOLE   0 0 0
PORTFOLIO RECOVERY ASSOCIATES INC. NOTE 3.000 8/0 73640QAB1 21,844 24,173,000 PRN   SOLE   0 0 0
PRICELINE.COM NOTE 1.000 3/1 741503AQ9 19,071 10,132,000 PRN   SOLE   0 0 0
PRICELINE.COM NOTE 0.350 6/1 741503AS5 4,690 3,290,000 PRN   SOLE   0 0 0
PRICELINE.COM NOTE 0.900 9/1 741503AX4 65,169 57,990,000 PRN   SOLE   0 0 0
PROSPECT CAPITAL CORPORATION NOTE 4.750 4/1 74348TAQ5 39,855 40,409,000 PRN   SOLE   0 0 0
QUANTUM CORP NOTE 4.500 11/1 747906AJ4 1,493 1,500,000 PRN   SOLE   0 0 0
RPM INTERNATIONAL INC NOTE 2.250 12/1 749685AT0 54,886 45,834,000 PRN   SOLE   0 0 0
ARCONIC INC NOTE 1.625 10/1 74973WAB3 88,684 75,993,000 PRN   SOLE   0 0 0
REDWOOD TRUST INC NOTE 5.625 11/1 749772AB5 926 900,000 PRN   SOLE   0 0 0
RED HAT INC NOTE 0.250 10/0 756577AD4 55,003 42,328,000 PRN   SOLE   0 0 0
RESOURCE CAPITAL CORPORATION NOTE 8.000 1/1 76120WAB0 4,811 4,705,000 PRN   SOLE   0 0 0
ROYAL GOLD INC NOTE 2.875 6/1 780287AA6 20,751 19,658,000 PRN   SOLE   0 0 0
SAFEGUARD SCIENTIFICS DBCV 5.250 5/1 786449AK4 2,492 2,450,000 PRN   SOLE   0 0 0
SALESFORCE.COM INC. NOTE 0.250 4/0 79466LAD6 66,904 51,925,000 PRN   SOLE   0 0 0
SEACOR HOLDING INC NOTE 3.000 11/1 81170YAB5 2,316 2,585,000 PRN   SOLE   0 0 0
SILVER STANDARD RESOURCES INC NOTE 2.875 2/0 82823LAC0 15,896 16,200,000 PRN   SOLE   0 0 0
TERRAVIA HOLDINGS NOTE 6.000 2/0 83415TAB7 4,690 7,160,000 PRN   SOLE   0 0 0
TERRAVIA HOLDINGS NOTE 5.000 10/0 83415TAC5 6,592 15,510,000 PRN   SOLE   0 0 0
SPECTRANETICS CORPORATION MTNF 2.625 6/0 84760CAA5 12,272 10,671,000 PRN   SOLE   0 0 0
TEVA PHARM DBCV 0.250 2/0 88163VAE9 98,636 92,133,000 PRN   SOLE   0 0 0
TRINITY INDUSTRIES INC NOTE 3.875 6/0 896522AF6 44,783 36,670,000 PRN   SOLE   0 0 0
VITAMIN SHOPPE INC NOTE 2.250 12/0 92849EAB7 6,143 7,180,000 PRN   SOLE   0 0 0
WEBMD HEALTH CORP. NOTE 2.500 1/3 94770VAF9 97 95,000 PRN   SOLE   0 0 0
WEBMD HEALTH CORP. NOTE 1.500 12/0 94770VAK8 3,586 3,021,000 PRN   SOLE   0 0 0
WORKDAY INC NOTE 1.500 7/1 98138HAD3 43,356 35,338,000 PRN   SOLE   0 0 0
SHIP FINANCE INTERNATIONAL NOTE 5.750 10/1 G81075AF3 1,344 1,350,000 PRN   SOLE   0 0 0