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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
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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
A.M. Castle & Co. CONV 148411AB7 1,376 800,000 PRN   SOLE   800,000 0 0
Alaska Communications Systems CONV 01167PAD3 1,732 2,000,000 PRN   SOLE   2,000,000 0 0
Allscripts Healthcare Solutio CONV 01988PAC2 1,641 1,500,000 PRN   SOLE   1,500,000 0 0
American Realty Capital Prop. CONV 02917TAA2 1,894 2,000,000 PRN   SOLE   2,000,000 0 0
AmTrust Financial Services, I CONV 032359AC5 3,139 2,000,000 PRN   SOLE   2,000,000 0 0
Annaly Capital Management, In CONV 035710AA0 1,642 1,500,000 PRN   SOLE   1,500,000 0 0
Array BioPharma Inc. CONV 04269XAA3 1,730 1,500,000 PRN   SOLE   1,500,000 0 0
Ascent Capital Group, Inc. CONV 043632AA6 1,055 1,000,000 PRN   SOLE   1,000,000 0 0
BlackRock Kelso Capital Corp. CONV 092533AA6 3,069 3,000,000 PRN   SOLE   3,000,000 0 0
Bottomline Technologies, Inc. CONV 101388AA4 2,311 2,000,000 PRN   SOLE   2,000,000 0 0
Bristow Group Inc. CONV 110394AC7 3,092 2,511,000 PRN   SOLE   2,511,000 0 0
CEMEX S.A.B. de C.V. CONV 151290AV5 1,181 1,000,000 PRN   SOLE   1,000,000 0 0
Chart Industries, Inc. CONV 16115QAC4 2,799 1,500,000 PRN   SOLE   1,500,000 0 0
Chiquita Brands International CONV 170032AT3 1,378 1,400,000 PRN   SOLE   1,400,000 0 0
Clean Energy Fuels Corp. CONV 184499AB7 1,021 1,000,000 PRN   SOLE   1,000,000 0 0
Colony Financial, Inc. CONV 19624RAA4 2,595 2,500,000 PRN   SOLE   2,500,000 0 0
Concur Technologies, Inc. CONV 206708AB5 1,214 1,000,000 PRN   SOLE   1,000,000 0 0
CSG Systems International, In CONV 126349AC3 2,616 2,150,000 PRN   SOLE   2,150,000 0 0
Cubist Pharmaceuticals, Inc. CONV 229678AE7 1,191 1,100,000 PRN   SOLE   1,100,000 0 0
Cubist Pharmaceuticals, Inc. CONV 229678AG2 1,187 1,100,000 PRN   SOLE   1,100,000 0 0
DFC Global Corp. CONV 23324TAB3 2,300 2,500,000 PRN   SOLE   2,500,000 0 0
EMC Corp. CONV 268648AL6 1,599 1,000,000 PRN   SOLE   1,000,000 0 0
EMC Corp. CONV 268648AM4 2,878 1,800,000 PRN   SOLE   1,800,000 0 0
Encore Capital Group, Inc. CONV 292554AC6 2,344 1,500,000 PRN   SOLE   1,500,000 0 0
Encore Capital Group, Inc. CONV 292554AE2 1,186 1,000,000 PRN   SOLE   1,000,000 0 0
Equinix, Inc. CONV 29444UAG1 3,346 2,000,000 PRN   SOLE   2,000,000 0 0
Exelixis, Inc. CONV 30161QAC8 1,470 1,250,000 PRN   SOLE   1,250,000 0 0
Finisar Corp. CONV 31787AAJ0 328 150,000 PRN   SOLE   150,000 0 0
Forest City Enterprises, Inc. CONV 345550AQ0 2,035 2,000,000 PRN   SOLE   2,000,000 0 0
FXCM Inc. CONV 302693AA4 2,425 2,000,000 PRN   SOLE   2,000,000 0 0
Gilead Sciences, Inc. CONV 375558AN3 4,178 1,500,000 PRN   SOLE   1,500,000 0 0
Gilead Sciences, Inc. CONV 375558AP8 5,541 2,000,000 PRN   SOLE   2,000,000 0 0
Goodrich Petroleum Corp. CONV 382410AC2 2,161 2,000,000 PRN   SOLE   2,000,000 0 0
GT Advanced Technologies, Inc CONV 36191UAA4 1,962 1,500,000 PRN   SOLE   1,500,000 0 0
Hawaiian Holdings, Inc. CONV 419879AD3 3,224 2,750,000 PRN   SOLE   2,750,000 0 0
Hornbeck Offshore Services, I CONV 440543AN6 2,266 1,750,000 PRN   SOLE   1,750,000 0 0
IAS Operating Partnership LP CONV 44927XAA3 1,876 2,000,000 PRN   SOLE   2,000,000 0 0
Iconix Brand Group, Inc. CONV 451055AD9 1,828 1,500,000 PRN   SOLE   1,500,000 0 0
Iconix Brand Group, Inc. CONV 451055AE7 2,777 2,250,000 PRN   SOLE   2,250,000 0 0
Illumina, Inc. CONV 452327AC3 1,144 1,000,000 PRN   SOLE   1,000,000 0 0
Infinera Corp. CONV 45667GAA1 1,146 1,000,000 PRN   SOLE   1,000,000 0 0
Insulet Corp. CONV 45784PAC5 1,814 1,250,000 PRN   SOLE   1,250,000 0 0
Intel Corp. CONV 458140AC4 1,248 1,150,000 PRN   SOLE   1,150,000 0 0
InterDigital, Inc. CONV 458660AB3 2,627 2,500,000 PRN   SOLE   2,500,000 0 0
Ixia CONV 45071RAB5 1,145 1,000,000 PRN   SOLE   1,000,000 0 0
JAKKS Pacific, Inc. CONV 47012EAE6 572 750,000 PRN   SOLE   750,000 0 0
Jarden Corp. CONV 471109AG3 3,314 2,750,000 PRN   SOLE   2,750,000 0 0
Kaiser Aluminum Corp. CONV 483007AB6 2,989 2,000,000 PRN   SOLE   2,000,000 0 0
Kaman Corp. CONV 483548AD5 1,880 1,500,000 PRN   SOLE   1,500,000 0 0
Lexington Realty Trust CONV 529043AA9 1,666 1,000,000 PRN   SOLE   1,000,000 0 0
Mentor Graphics Corp. CONV 587200AK2 2,630 2,000,000 PRN   SOLE   2,000,000 0 0
Merrimack Pharmaceuticals, In CONV 590328AA8 910 1,000,000 PRN   SOLE   1,000,000 0 0
MGM Resorts International CONV 55303QAE0 2,551 2,000,000 PRN   SOLE   2,000,000 0 0
Micron Technology, Inc. CONV 595112AS2 170 100,000 PRN   SOLE   100,000 0 0
Micron Technology, Inc. CONV 595112AX1 2,852 1,500,000 PRN   SOLE   1,500,000 0 0
Molina Healthcare Inc. CONV 60855RAB6 2,711 2,500,000 PRN   SOLE   2,500,000 0 0
Move, Inc. CONV 62458MAA6 1,160 1,000,000 PRN   SOLE   1,000,000 0 0
Mylan Inc. CONV 628530AJ6 2,903 1,000,000 PRN   SOLE   1,000,000 0 0
Northgate Minerals Corp. CONV 666416AB8 1,150 1,200,000 PRN   SOLE   1,200,000 0 0
Nuance Communications, Inc. CONV 67020YAB6 3,420 3,000,000 PRN   SOLE   3,000,000 0 0
OPKO Health Inc. CONV 68375NAA1 1,730 1,341,000 PRN   SOLE   1,341,000 0 0
Photronics, Inc. CONV 719405AH5 2,235 2,000,000 PRN   SOLE   2,000,000 0 0
Portfolio Recovery Associates CONV 73640QAA3 1,167 1,000,000 PRN   SOLE   1,000,000 0 0
Priceline.com Inc. CONV 741503AN6 2,326 700,000 PRN   SOLE   700,000 0 0
Priceline.com Inc. CONV 741503AQ9 2,083 1,615,000 PRN   SOLE   1,615,000 0 0
Regeneron Pharmaceuticals, In CONV 75886FAD9 1,863 500,000 PRN   SOLE   500,000 0 0
ReneSola Ltd. CONV 75971TAA1 429 500,000 PRN   SOLE   500,000 0 0
Royal Gold, Inc CONV 780287AA6 578 600,000 PRN   SOLE   600,000 0 0
RTI International Metals, Inc CONV 74973WAA5 1,371 1,200,000 PRN   SOLE   1,200,000 0 0
RTI International Metals, Inc CONV 74973WAB3 1,040 1,000,000 PRN   SOLE   1,000,000 0 0
Rudolph Technologies Inc. CONV 781268AA5 1,154 1,000,000 PRN   SOLE   1,000,000 0 0
Salix Pharmaceuticals Ltd. CONV 795435AC0 1,840 1,200,000 PRN   SOLE   1,200,000 0 0
SanDisk Corp. CONV 80004CAD3 1,991 1,500,000 PRN   SOLE   1,500,000 0 0
SBA Communications Corp. CONV 78388JAM8 3,197 1,200,000 PRN   SOLE   1,200,000 0 0
Ship Finance International Lt CONV G81075AE6 1,267 1,250,000 PRN   SOLE   1,250,000 0 0
Shutterfly, Inc. CONV 82568PAA4 1,109 1,000,000 PRN   SOLE   1,000,000 0 0
Spansion LLC CONV 84649PAK1 964 1,000,000 PRN   SOLE   1,000,000 0 0
Stillwater Mining Company CONV 86074QAL6 1,055 1,000,000 PRN   SOLE   1,000,000 0 0
SunPower Corp. CONV 867652AE9 3,294 2,500,000 PRN   SOLE   2,500,000 0 0
Take-Two Interactive Software CONV 874054AC3 2,978 2,500,000 PRN   SOLE   2,500,000 0 0
TeleCommunication Systems, In CONV 87929JAC7 1,980 2,000,000 PRN   SOLE   2,000,000 0 0
The Ryland Group, Inc. CONV 783764AS2 918 1,000,000 PRN   SOLE   1,000,000 0 0
Tower Group, Inc. CONV 891777AC8 1,016 1,200,000 PRN   SOLE   1,200,000 0 0
United States Steel Corp. CONV 912909AE8 1,285 1,250,000 PRN   SOLE   1,250,000 0 0
Volcano Corp. CONV 928645AB6 1,558 1,500,000 PRN   SOLE   1,500,000 0 0
Web.com Group, Inc. CONV 94733AAA2 2,281 2,000,000 PRN   SOLE   2,000,000 0 0
Xilinx, Inc. CONV 983919AF8 1,628 1,000,000 PRN   SOLE   1,000,000 0 0
Amerivon Holdings LLC PFD CV 898873104 33 545,456 SH   SOLE   545,456 0 0
Amerivon Holdings LLC PFD CV 898876107 1,521 1,254,294 SH   SOLE   1,254,294 0 0
Bank of America Corp. PFD CV 60505682 3,672 3,400 SH   SOLE   3,400 0 0
Bunge Ltd. PFD CV G16962204 1,579 15,000 SH   SOLE   15,000 0 0
Chesapeake Energy Corp. PFD CV 165167768 3,426 3,100 SH   SOLE   3,100 0 0
Halcon Resources Corp. PFD CV 40537Q407 1,944 2,000 SH   SOLE   2,000 0 0
Health Care REIT, Inc. PFD CV 42217K601 2,302 40,000 SH   SOLE   40,000 0 0
Huntington Bancshares, Inc. PFD CV 446150401 3,100 2,500 SH   SOLE   2,500 0 0
NY Community Capital Trust V PFD CV 64944P307 2,357 48,000 SH   SOLE   48,000 0 0
Post Holdings, Inc. PFD CV 737446203 1,689 16,600 SH   SOLE   16,600 0 0
Stanley Black & Decker, Inc. PFD CV 854502309 2,740 20,000 SH   SOLE   20,000 0 0
Wells Fargo & Co. PFD CV 949746804 4,550 4,000 SH   SOLE   4,000 0 0
Weyerhaeuser Co. PFD CV 962166872 3,171 60,000 SH   SOLE   60,000 0 0
2010 Swift MandCommon Exch Tr PFD CV 90213G207 1,009 60,000 SH   SOLE   60,000 0 0
Dominion Resources, Inc. PFD CV 25746U703 1,334 25,000 SH   SOLE   25,000 0 0
Dominion Resources, Inc. PFD CV 25746U885 1,336 25,000 SH   SOLE   25,000 0 0
Genesee & Wyoming, Inc. PFD CV 371559204 2,545 20,000 SH   SOLE   20,000 0 0
Maiden Holdings, Ltd. PFD CV G5753U203 2,214 45,000 SH   SOLE   45,000 0 0
MetLife, Inc. PFD CV 59156R116 1,863 65,000 SH   SOLE   65,000 0 0
NextEra Energy, Inc. PFD CV 65339F705 830 15,000 SH   SOLE   15,000 0 0
NextEra Energy, Inc. PFD CV 65339F861 969 20,000 SH   SOLE   20,000 0 0
NextEra Energy, Inc. PFD CV 65339F887 2,184 40,000 SH   SOLE   40,000 0 0
PPL Corp. PFD CV 69351T114 2,686 50,000 SH   SOLE   50,000 0 0
Unisys Corp. PFD CV 909214405 1,385 20,000 SH   SOLE   20,000 0 0
United Technologies Corp. PFD CV 913017117 5,183 80,000 SH   SOLE   80,000 0 0
AbbVie Inc. COM 00287Y109 895 20,000 SH   SOLE   20,000 0 0
AT&T Inc. COM 00206R102 2,367 70,000 SH   SOLE   70,000 0 0
Bristol Myers Squibb Co. COM 110122108 463 10,000 SH   SOLE   10,000 0 0
Citigroup Inc. COM 172967424 948 19,546 SH   SOLE   19,546 0 0
ConocoPhillips COM 20825C104 1,862 26,782 SH   SOLE   26,782 0 0
Eli Lilly & Co. COM 532457108 755 15,000 SH   SOLE   15,000 0 0
Halcon Resources Corp. COM 40537Q209 22 4,954 SH   SOLE   4,954 0 0
Intel Corp. COM 458140100 573 25,000 SH   SOLE   25,000 0 0
Merck & Co., Inc. COM 58933Y105 1,555 32,651 SH   SOLE   32,651 0 0
MetLife, Inc. COM 59156R108 1,730 36,855 SH   SOLE   36,855 0 0
Microsoft Corp. COM 594918104 1,119 33,600 SH   SOLE   33,600 0 0
Pfizer Inc. COM 717081103 1,148 40,000 SH   SOLE   40,000 0 0
Verizon Communications Inc. COM 92343V104 1,400 30,000 SH   SOLE   30,000 0 0
Walt Disney Co. COM 254687106 967 15,000 SH   SOLE   15,000 0 0