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
AGNC INVESTMENT CORP. SER B 7. PFD 00123Q302 2,565 100,275 SH   SOLE   99,375 0 0
AMERICAN HOMES 4 RENT E 6.35 PFD 02665T801 243 9,000 SH   SOLE   9,000 0 0
AMERICAN HOMES 4 RENT G 5.875 PFD 02665T876 367 14,300 SH   SOLE   14,300 0 0
AT&T INC 5.35 PFD 00206R300 1,198 45,350 SH   SOLE   45,350 0 0
BANK OF AMERICA CORP SER Y 6.5 PFD 060505310 1,131 44,300 SH   SOLE   44,300 0 0
BANK OF AMERICA SER HH 5.875 PFD 060505195 558 21,375 SH   SOLE   21,175 0 0
CAI INTL INC RED PFD SER B 8.5 PFD 12477X304 510 20,400 SH   SOLE   20,400 0 0
CITIGROUP INC PFD SER K 6.875 PFD 172967341 1,775 64,775 SH   SOLE   64,675 0 0
GMAC CAP TR SER A FLOATING RT PFD 361860208 4,218 161,415 SH   SOLE   160,075 0 0
GOLDMAN SACHS GROUP INC. PFD S PFD 38148B504 2,067 78,010 SH   SOLE   76,850 0 0
HERSHA HOSPITALITY TRUST SER D PFD 427825609 1,557 65,125 SH   SOLE   65,125 0 0
JP MORGAN CHASE & CO 6.15 09 PFD 48127V827 981 37,450 SH   SOLE   37,450 0 0
KEMPER CORP 7.375 PFD 488401209 1,955 77,625 SH   SOLE   76,125 0 0
KKR & CO INC SER A 6.75 PFD 48251W203 1,439 54,000 SH   SOLE   53,250 0 0
MONMOUTH REAL ESTATE PFD SER C PFD 609720404 241 10,100 SH   SOLE   10,100 0 0
MORGAN STANLEY PFD SER G 6.625 PFD 61762V507 2,063 81,350 SH   SOLE   80,750 0 0
PEBBLEBROOK HOTEL TR PFD SER C PFD 70509V407 532 20,910 SH   SOLE   20,550 0 0
PLYMOUTH INDL REIT 7.5 QTLY 1 PFD 729640201 280 11,000 SH   SOLE   11,000 0 0
STAG INDUSTRIAL PFD SER C 6.87 PFD 85254J409 970 36,415 SH   SOLE   36,175 0 0
TELEPHONE & DATA SYSTEMS INC P PFD 879433837 1,231 49,050 SH   SOLE   47,850 0 0
VORNADO REALTY SER M 5.25 PFD 929042828 1,454 59,300 SH   SOLE   59,300 0 0
WELLS FARGO REAL EST INVT CORP PFD 94988N207 566 22,000 SH   SOLE   22,000 0 0
AIR PRODUCTS & CHEMICALS COM 009158106 7,046 31,125 SH   SOLE   31,125 0 0
AK STEEL HLDG CORP COM 001547108 69 29,100 SH   SOLE   29,100 0 0
ALLOGENE THERAPEUTICS INC COM 019770106 1,165 43,395 SH   SOLE   43,395 0 0
ALLY FINANCIAL INC COM COM 02005N100 8,917 287,745 SH   SOLE   283,585 0 0
ALPHABET INC CL C COM 02079K107 8,098 7,492 SH   SOLE   7,482 0 0
AMAZON.COM COM 023135106 19,942 10,531 SH   SOLE   10,515 0 0
APPLE COM 037833100 20,002 101,059 SH   SOLE   100,959 0 0
ASHLAND GLOBAL HOLDINGS INC COM 044186104 4,038 50,495 SH   SOLE   50,495 0 0
AT&T COM 00206R102 9,794 292,280 SH   SOLE   287,480 0 0
ATLAS AIR WORLDWIDE HOLDINGS I COM 049164205 1,324 29,665 SH   SOLE   29,665 0 0
BANK OF AMERICA COM 060505104 7,549 260,314 SH   SOLE   259,374 0 0
BEARD COM 07384R408 0 13,800 SH   SOLE   13,800 0 0
BERKSHIRE HATHAWAY DEL CL A COM 084670108 955 3 SH   SOLE   3 0 0
BGC PARTNERS INC COM 05541T101 1,393 266,300 SH   SOLE   264,500 0 0
BLACKHAWK CAP GROUP BDC COM 09236T103 0 24,000 SH   SOLE   24,000 0 0
BOSTON SCIENTIFIC COM 101137107 537 12,500 SH   SOLE   12,500 0 0
CANADA GOOSE HOLDINGS INC COM 135086106 1,579 40,775 SH   SOLE   40,775 0 0
CIGNA CORP COM 125523100 496 3,150 SH   SOLE   3,150 0 0
CISCO SYSTEMS COM 17275R102 4,502 82,255 SH   SOLE   82,255 0 0
CITIGROUP INC COM 172967424 7,539 107,652 SH   SOLE   106,652 0 0
COMCAST CL A COM 20030N101 1,455 34,405 SH   SOLE   34,405 0 0
COSTCO WHSL COM 22160K105 885 3,350 SH   SOLE   3,350 0 0
DANAHER CORP COM COM 235851102 5,676 39,712 SH   SOLE   39,592 0 0
DANONE SPONSORED ADR COM 23636T100 8,477 499,585 SH   SOLE   492,085 0 0
DELTA AIR LINES INC COM 247361702 5,561 97,995 SH   SOLE   97,995 0 0
DENBURY RES INC COM NEW COM 247916208 248 200,000 SH   SOLE   200,000 0 0
ENTERPRISE PRODUCTS PARTNERS L COM 293792107 245 8,500 SH   SOLE   8,500 0 0
FARFETCH LIMITED CLASS A COM 30744W107 2,694 129,515 SH   SOLE   129,515 0 0
FORTRESS BIOTECH INC COM 34960Q109 49 32,600 SH   SOLE   32,600 0 0
FREEPORT MCMORAN, INC. CL B COM 35671D857 670 57,750 SH   SOLE   57,750 0 0
GAMING AND LEISURE PROPERTIES, COM 36467J108 4,461 114,440 SH   SOLE   113,940 0 0
GENERAL ELECTRIC COM 369604103 315 30,000 SH   SOLE   30,000 0 0
GENERAL MILLS COM 370334104 309 5,875 SH   SOLE   5,875 0 0
GRIFFIN MINING LTD COM G31920104 18 15,000 SH   SOLE   15,000 0 0
HERSHA HOSPITALITY TRUST COM 427825500 2,416 146,100 SH   SOLE   144,100 0 0
HONEYWELL INTL INC COM 438516106 9,990 57,220 SH   SOLE   56,470 0 0
HUMANA INC COM 444859102 9,573 36,085 SH   SOLE   35,535 0 0
INCYTE COM 45337C102 1,911 22,500 SH   SOLE   106,500 0 0
INDUSTRIAL LOGISTICS PPTYS COM 456237106 1,470 70,600 SH   SOLE   70,600 0 0
J C PENNEY INC COM 708160106 17 15,000 SH   SOLE   15,000 0 0
JOHNSON & JOHNSON COM 478160104 543 3,900 SH   SOLE   3,900 0 0
LEXINGTON REALTY TRUST COM 529043101 7,861 835,425 SH   SOLE   834,525 0 0
LIBERTY MEDIA CORP SIRIUSXM GR COM 531229607 267 7,028 SH   SOLE   7,028 0 0
LINDE PLC COM G5494J103 4,317 21,500 SH   SOLE   21,500 0 0
MADRIGAL PHARMACEUTICALS INC COM 558868105 1,608 15,341 SH   SOLE   15,341 0 0
MARATHON PETROLEUM CORP COM 56585A102 2,589 46,330 SH   SOLE   46,330 0 0
MCDONALDS COM 580135101 384 1,850 SH   SOLE   1,850 0 0
MERCK & CO INC COM 58933Y105 960 11,450 SH   SOLE   11,450 0 0
MICROSOFT COM 594918104 1,078 8,050 SH   SOLE   8,050 0 0
MPLX LP COM 55336V100 1,756 54,540 SH   SOLE   54,540 0 0
NEW MEDIA INVESTMENT GROUP INC COM 64704V106 1,188 125,815 SH   SOLE   125,275 0 0
OPKO HEALTH INC COM COM 68375N103 27 11,000 SH   SOLE   11,000 0 0
PAYPAL HOLDINGS INC COM 70450Y103 11,167 97,560 SH   SOLE   97,560 0 0
PLYMOUTH INDL REIT, Inc. COM 729640102 453 23,900 SH   SOLE   23,900 0 0
QEP RESOURCES COM 74733V100 447 61,800 SH   SOLE   61,800 0 0
QURATE RETAIL INC QVC GROUP CO COM 74915M100 193 15,544 SH   SOLE   15,544 0 0
ROYAL BANK OF CANADA COM 780087102 550 6,931 SH   SOLE   6,931 0 0
SALESFORCE.COM INC COM 79466L302 8,471 55,830 SH   SOLE   55,830 0 0
SOLENO THERAPEUTICS INC COM COM 834203200 82 29,250 SH   SOLE   29,250 0 0
SPDR GOLD TRUST COM 78463V107 333 2,500 SH   SOLE   2,500 0 0
STARWOOD PROPERTY TRUST INC COM 85571B105 10,758 473,505 SH   SOLE   471,305 0 0
TAKE TWO INTERACTIVE SOFTWARE COM 874054109 4,656 41,015 SH   SOLE   41,015 0 0
THL CREDIT INC COM 872438106 1,219 183,600 SH   SOLE   182,850 0 0
ULTRALIFE BATTERIES COM 903899102 185 23,228 SH   SOLE   23,228 0 0
UROGEN PHARMA LTD COM M96088105 2,318 64,500 SH   SOLE   64,400 0 0
VERIZON COMMUNICATIONS COM 92343V104 313 5,470 SH   SOLE   5,290 0 0
VICOR CORP COM 925815102 759 24,455 SH   SOLE   24,255 0 0
WALT DISNEY COMPANY HOLDING COM 254687106 294 2,103 SH   SOLE   2,103 0 0
WESTERN MIDSTREAM PARTNERS LP COM 958669103 223 7,244 SH   SOLE   7,244 0 0
WHITING PETE CORP COM 966387409 560 30,000 SH   SOLE   30,000 0 0
XYLEM INC COM 98419M100 787 9,405 SH   SOLE   9,405 0 0