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
1/100 Berkshire Hathaway A (10 COM 084990175 207 100 SH   SOLE   100 0 0
3M Co COM 88579y101 9,873 69,685 SH   SOLE   69,685 0 0
ABB Ltd -Spon ADR COM 000375204 3,605 160,859 SH   SOLE   160,859 0 0
AGL Resources Inc COM 001204106 3,441 67,025 SH   SOLE   67,025 0 0
AT&T Inc COM 00206r102 10,900 309,317 SH   SOLE   309,317 0 0
AbbVie Inc COM 00287y109 8,094 140,131 SH   SOLE   140,131 0 0
Abbott Laboratories COM 002824100 9,013 216,710 SH   SOLE   216,710 0 0
Accenture PLC-Cl A COM g1151c101 3,343 41,105 SH   SOLE   41,105 0 0
Actavis LTD COM g0083b108 432 1,792 SH   SOLE   1,792 0 0
Adobe Systems Inc COM 00724f101 464 6,700 SH   SOLE   6,700 0 0
Aetna Inc COM 00817Y108 502 6,200 SH   SOLE   6,200 0 0
Aflac Inc COM 001055102 232 3,977 SH   SOLE   3,977 0 0
Agilent Technologies Inc COM 00846u101 1,028 18,041 SH   SOLE   18,041 0 0
Air Products & Chemicals Inc COM 009158106 4,112 31,589 SH   SOLE   31,589 0 0
Allegion PLC COM g0176j109 258 5,424 SH   SOLE   5,424 0 0
Alliance Data Systems Corp COM 018581108 398 1,604 SH   SOLE   1,604 0 0
Allstate Corp COM 020002101 338 5,512 SH   SOLE   5,512 0 0
Altria Group Inc COM 02209s103 7,220 157,153 SH   SOLE   157,153 0 0
Amarillo Gold Corp COM 041133317 131 1,400,000 SH   SOLE   1,400,000 0 0
Amazon.com Inc COM 023135106 514 1,593 SH   SOLE   1,593 0 0
American Electric Power COM 025537101 450 8,623 SH   SOLE   8,623 0 0
American Express Co COM 025816109 3,115 35,587 SH   SOLE   35,587 0 0
American International Group COM 026874784 210 3,894 SH   SOLE   3,894 0 0
AmerisourceBergen Corp COM 03073e105 284 3,680 SH   SOLE   3,680 0 0
Amgen Inc COM 031162100 1,850 13,173 SH   SOLE   13,173 0 0
Apache Corp COM 037411105 303 3,226 SH   SOLE   3,226 0 0
Apple Inc COM 037833100 20,787 206,322 SH   SOLE   206,322 0 0
Archer-Daniels-Midland Co COM 039483102 638 12,489 SH   SOLE   12,489 0 0
Automatic Data Processing COM 053015103 7,962 95,838 SH   SOLE   95,838 0 0
BCE Inc COM 05534b760 2,697 63,063 SH   SOLE   63,063 0 0
BGC Partners, Inc COM 05541t101 106 14,231 SH   SOLE   14,231 0 0
Baker Hughes Inc COM 057224107 210 3,231 SH   SOLE   3,231 0 0
Bank Of Marin Bancorp/CA COM 063425102 574 12,501 SH   SOLE   12,501 0 0
Bank of America Corp COM 060505104 2,834 166,203 SH   SOLE   166,203 0 0
Bank of Montreal COM 063671101 892 12,120 SH   SOLE   12,120 0 0
Baxter International Inc. COM 071813109 628 8,750 SH   SOLE   8,750 0 0
Becton Dickinson & Co COM 075887109 530 4,657 SH   SOLE   4,657 0 0
Berkshire Hathaway Inc-Cl B COM 084670702 2,775 20,087 SH   SOLE   20,087 0 0
Biogen Idec Inc COM 09062x103 1,498 4,527 SH   SOLE   4,527 0 0
Blackrock Inc COM 09247x101 210 640 SH   SOLE   640 0 0
Blackstone Group/The COM 09253u108 620 19,687 SH   SOLE   19,687 0 0
Boeing Co COM 097023105 3,134 24,601 SH   SOLE   24,601 0 0
Bristol-Myers Squibb Co COM 110122108 13,039 254,762 SH   SOLE   254,762 0 0
CVS Caremark Corp COM 126650100 3,521 44,243 SH   SOLE   44,243 0 0
Carlyle Group/The COM 14309l102 2,240 73,550 SH   SOLE   73,550 0 0
Caterpillar Inc COM 149123101 2,105 21,251 SH   SOLE   21,251 0 0
Celgene Corp COM 151020104 483 5,093 SH   SOLE   5,093 0 0
CenterPoint Energy Inc COM 15189t107 2,614 106,844 SH   SOLE   106,844 0 0
Cerner Corp COM 156782104 2,130 35,755 SH   SOLE   35,755 0 0
Cerus Corp COM 157085101 40 10,000 SH   SOLE   10,000 0 0
Check Point Software Tech COM m22465104 297 4,284 SH   SOLE   4,284 0 0
Chevron Corp COM 166764100 23,472 196,713 SH   SOLE   196,713 0 0
Chubb Corp COM 171232101 2,734 30,016 SH   SOLE   30,016 0 0
Cisco Systems Inc COM 17275R102 3,116 123,810 SH   SOLE   123,810 0 0
Citigroup Inc COM 172967424 378 7,299 SH   SOLE   7,299 0 0
Clorox Company COM 189054109 7,637 79,516 SH   SOLE   79,516 0 0
Coca-Cola Co/The COM 191216100 4,844 113,553 SH   SOLE   113,553 0 0
Colgate-Palmolive Co COM 194162103 7,141 109,498 SH   SOLE   109,498 0 0
Comcast Corp-Cl A COM 20030n101 5,144 95,652 SH   SOLE   95,652 0 0
Comerica Inc COM 200340107 859 17,219 SH   SOLE   17,219 0 0
Conagra Foods Inc COM 205887102 1,340 40,555 SH   SOLE   40,555 0 0
ConocoPhillips COM 20825C104 15,815 206,674 SH   SOLE   206,674 0 0
Consolidated Edison Inc COM 209115104 924 16,308 SH   SOLE   16,308 0 0
Consumer Staples SPDR COM 81369y308 3,026 67,078 SH   SOLE   67,078 0 0
Costco Wholesale Corp COM 22160K105 10,948 87,360 SH   SOLE   87,360 0 0
CurrencyShares Australian Doll COM 23129u101 445 5,070 SH   SOLE   5,070 0 0
CurrencyShares Canadian Dollar COM 23129x105 430 4,840 SH   SOLE   4,840 0 0
DIRECTV Group Inc/The COM 25490a309 499 5,764 SH   SOLE   5,764 0 0
DTE Energy Company COM 233331107 232 3,047 SH   SOLE   3,047 0 0
Danaher Corp COM 235851102 3,661 48,190 SH   SOLE   48,190 0 0
Deere & Co COM 244199105 1,739 21,213 SH   SOLE   21,213 0 0
Devon Energy Corporation COM 25179m103 205 3,004 SH   SOLE   3,004 0 0
Diageo Plc-Sponsored ADR COM 25243q205 410 3,551 SH   SOLE   3,551 0 0
Dick's Sporting Goods Inc COM 253393102 726 16,538 SH   SOLE   16,538 0 0
Disney Co./Walt The COM 254687106 6,117 68,703 SH   SOLE   68,703 0 0
Dominion Resources Inc/Va COM 25746u109 549 7,943 SH   SOLE   7,943 0 0
Dow Chemical COM 260543103 317 6,046 SH   SOLE   6,046 0 0
Dr Pepper Snapple Group Inc COM 26138e109 732 11,388 SH   SOLE   11,388 0 0
Du Pont (E.I.) De Nemours COM 263534109 7,822 109,002 SH   SOLE   109,002 0 0
Duke Energy Corp COM 26441c204 3,396 45,414 SH   SOLE   45,414 0 0
EGShares Dow Jones Emerging Ma COM 268461779 4,799 182,977 SH   SOLE   182,977 0 0
EMC Corp/Mass COM 268648102 295 10,068 SH   SOLE   10,068 0 0
EMC Metals Corp COM 268665106 2 23,400 SH   SOLE   23,400 0 0
EOG Resources Inc COM 26875p101 214 2,162 SH   SOLE   2,162 0 0
ETFS Physical Precious Metals COM 26922w109 606 9,595 SH   SOLE   9,595 0 0
Eaton Corp PLC COM g29183103 1,263 19,931 SH   SOLE   19,931 0 0
Ecolab Inc COM 278865100 5,766 50,211 SH   SOLE   50,211 0 0
Edison International COM 281020107 3,978 71,138 SH   SOLE   71,138 0 0
Eli Lilly & Co COM 532457108 3,068 47,310 SH   SOLE   47,310 0 0
Emerson Electric Co COM 291011104 2,109 33,695 SH   SOLE   33,695 0 0
Encounter Technologies Inc COM 29259j105 0 62,000 SH   SOLE   62,000 0 0
EnerSys COM 29275y102 282 4,805 SH   SOLE   4,805 0 0
Energy Transfer Equity LP COM 29273v100 494 8,000 SH   SOLE   8,000 0 0
Enterprise Products Partners COM 293792107 1,723 42,765 SH   SOLE   42,765 0 0
Essex Property Trust Inc COM 297178105 413 2,310 SH   SOLE   2,310 0 0
Eurasian Minerals Inc COM 29843r100 38 54,086 SH   SOLE   54,086 0 0
Express Scripts Holding Co. COM 30219g108 1,029 14,574 SH   SOLE   14,574 0 0
Exxon Mobil Corp COM 30231G102 14,015 149,021 SH   SOLE   149,021 0 0
Facebook Inc COM 30303m102 408 5,167 SH   SOLE   5,167 0 0
FedEx Corp COM 31428x106 576 3,570 SH   SOLE   3,570 0 0
First Trust Dividend Leaders I COM 336917109 1,277 54,554 SH   SOLE   54,554 0 0
First Trust Mid Cap Growth Alp COM 33737m102 284 10,261 SH   SOLE   10,261 0 0
First Trust Mid Cap Value ETF COM 33737m201 273 9,168 SH   SOLE   9,168 0 0
Flagstar Bancorp Inc COM 337930705 168 10,000 SH   SOLE   10,000 0 0
Flowserve Corp COM 34354p105 203 2,878 SH   SOLE   2,878 0 0
Fluor Corp COM 343412102 472 7,070 SH   SOLE   7,070 0 0
Ford Motor Co COM 345370860 1,884 127,404 SH   SOLE   127,404 0 0
Franklin Resources Inc COM 354613101 343 6,280 SH   SOLE   6,280 0 0
Freeport-McMoRan Copper & Gold COM 35671d857 3,007 92,113 SH   SOLE   92,113 0 0
Frontier Communications Corp COM 35906a108 100 15,371 SH   SOLE   15,371 0 0
General Dynamics Corp COM 369550108 1,995 15,699 SH   SOLE   15,699 0 0
General Electric Co COM 369604103 17,266 673,943 SH   SOLE   673,943 0 0
General Mills Inc COM 370334104 4,711 93,372 SH   SOLE   93,372 0 0
Genuine Parts Co COM 372460105 4,413 50,313 SH   SOLE   50,313 0 0
Gilead Sciences Inc COM 375558103 1,665 15,639 SH   SOLE   15,639 0 0
GlaxoSmithKline Plc-ADR COM 37733w105 2,398 52,165 SH   SOLE   52,165 0 0
Global Brands Group Holding COM g39338101 2 10,000 SH   SOLE   10,000 0 0
Goldman Sachs Group Inc COM 38141G104 449 2,445 SH   SOLE   2,445 0 0
Google Inc-Cl A COM 38259P508 2,587 4,396 SH   SOLE   4,396 0 0
Google Inc-Cl C COM 38259p706 2,248 3,894 SH   SOLE   3,894 0 0
Grainger (W.W.) Inc COM 384802104 312 1,238 SH   SOLE   1,238 0 0
Guggenheim BRIC ETF COM 18383m100 354 10,385 SH   SOLE   10,385 0 0
Guggenheim Russell Top 50 ETF COM 78355w205 678 4,906 SH   SOLE   4,906 0 0
Guggenheim S&P Equal Weight COM 78355w106 492 6,491 SH   SOLE   6,491 0 0
HCP Inc COM 40414l109 4,949 124,637 SH   SOLE   124,637 0 0
HPEV Inc COM 404273104 11 17,800 SH   SOLE   17,800 0 0
Harman International COM 413086109 702 7,160 SH   SOLE   7,160 0 0
Hershey Co/The COM 427866108 204 2,134 SH   SOLE   2,134 0 0
Hess Corp COM 42809h107 815 8,644 SH   SOLE   8,644 0 0
Hewlett-Packard Co COM 428236103 2,498 70,419 SH   SOLE   70,419 0 0
Home Depot Inc COM 437076102 5,423 59,109 SH   SOLE   59,109 0 0
Honeywell International Inc COM 438516106 4,891 52,520 SH   SOLE   52,520 0 0
Hormel Foods Corp COM 440452100 224 4,365 SH   SOLE   4,365 0 0
Hubbell Inc -Cl B COM 443510201 241 2,000 SH   SOLE   2,000 0 0
Illinois Tool Works COM 452308109 340 4,022 SH   SOLE   4,022 0 0
Infinito Gold Ltd COM 45671c106 0 33,130 SH   SOLE   33,130 0 0
Ingersoll-Rand Co Ltd-Cl A COM g47791101 1,241 22,021 SH   SOLE   22,021 0 0
Integral Technologies Inc COM 45810j103 10 17,000 SH   SOLE   17,000 0 0
Intel Corp COM 458140100 13,311 382,272 SH   SOLE   382,272 0 0
InterContinental Hotels-ADR COM 45857p509 2,278 58,929 SH   SOLE   58,929 0 0
Intl Business Machines Corp COM 459200101 9,395 49,493 SH   SOLE   49,493 0 0
Intl Flavors & Fragrances COM 459506101 511 5,325 SH   SOLE   5,325 0 0
Ivanhoe Mines Ltd COM 46579r104 203 200,000 SH   SOLE   200,000 0 0
JPMorgan Chase & Co COM 46625H100 6,535 108,484 SH   SOLE   108,484 0 0
Jacobs Engineering Group Inc COM 469814107 428 8,769 SH   SOLE   8,769 0 0
Johnson & Johnson COM 478160104 21,080 197,766 SH   SOLE   197,766 0 0
Johnson Controls Inc COM 478366107 1,267 28,785 SH   SOLE   28,785 0 0
Kimberly-Clark Corp COM 494368103 9,212 85,633 SH   SOLE   85,633 0 0
Kinder Morgan Energy Partners COM 494550106 2,903 31,121 SH   SOLE   31,121 0 0
Kinder Morgan Inc COM 49456b101 273 7,116 SH   SOLE   7,116 0 0
Kohl's Corp COM 500255104 610 10,000 SH   SOLE   10,000 0 0
Kraft Foods Group COM 50076q106 1,869 33,132 SH   SOLE   33,132 0 0
L-3 Communications Holdings COM 502424104 409 3,436 SH   SOLE   3,436 0 0
Laboratory Corp Of Amer Hldgs COM 50540r409 1,444 14,194 SH   SOLE   14,194 0 0
Lam Research Corp COM 512807108 228 3,049 SH   SOLE   3,049 0 0
Li & Fung Ltd Ord New COM g5485f151 11 10,000 SH   SOLE   10,000 0 0
Linn Co LLC COM 535782106 659 22,750 SH   SOLE   22,750 0 0
Linn Energy LLC-Units COM 536020100 1,442 47,850 SH   SOLE   47,850 0 0
Lockheed Martin Corp COM 539830109 569 3,114 SH   SOLE   3,114 0 0
Lowe's Cos Inc COM 548661107 3,587 67,777 SH   SOLE   67,777 0 0
Lululemon Athletica Inc COM 550021109 253 6,034 SH   SOLE   6,034 0 0
Macy's Inc COM 55616p104 1,657 28,484 SH   SOLE   28,484 0 0
Magellan Midstream Partners COM 559080106 222 2,632 SH   SOLE   2,632 0 0
Mallinckrodt PLC COM g5785g107 344 3,821 SH   SOLE   3,821 0 0
Manulife Financial Corp COM 56501r106 429 22,305 SH   SOLE   22,305 0 0
Marathon Oil Corp COM 565849106 404 10,748 SH   SOLE   10,748 0 0
Marathon Petroleum Corp COM 56585a102 296 3,492 SH   SOLE   3,492 0 0
Market Vectors Agribusiness ET COM 57060u605 688 13,015 SH   SOLE   13,015 0 0
McCormick & Co-Non Vtg Shrs COM 579780206 1,403 20,967 SH   SOLE   20,967 0 0
McDonald's Corp COM 580135101 10,414 109,843 SH   SOLE   109,843 0 0
McGraw Hill Financial Inc COM 580645109 546 6,470 SH   SOLE   6,470 0 0
Medical Properties Trust Inc COM 58463j304 320 26,134 SH   SOLE   26,134 0 0
Medtronic Inc COM 585055106 4,507 72,757 SH   SOLE   72,757 0 0
Merck & Co. Inc. COM 58933y105 6,950 117,247 SH   SOLE   117,247 0 0
Microsoft Corp COM 594918104 8,257 178,114 SH   SOLE   178,114 0 0
Mondelez International COM 609207105 1,898 55,405 SH   SOLE   55,405 0 0
Monsanto Co COM 61166w101 232 2,060 SH   SOLE   2,060 0 0
Morgan Stanley COM 617446448 1,184 34,235 SH   SOLE   34,235 0 0
Mylan Laboratories COM 628530107 1,688 37,115 SH   SOLE   37,115 0 0
NXP Semiconductors Nv COM n6596x109 267 3,900 SH   SOLE   3,900 0 0
Nabors Industries Inc COM g6359f103 1,040 45,712 SH   SOLE   45,712 0 0
National Oilwell Varco Inc COM 637071101 302 3,973 SH   SOLE   3,973 0 0
Nestle Sa-Spons ADR For Reg COM 641069406 4,176 56,718 SH   SOLE   56,718 0 0
NextEra Energy Inc COM 65339f101 9,064 96,554 SH   SOLE   96,554 0 0
Nike Inc -Cl B COM 654106103 6,330 70,969 SH   SOLE   70,969 0 0
Nordstrom Inc COM 655664100 462 6,761 SH   SOLE   6,761 0 0
Norfolk Southern Corp COM 655844108 492 4,411 SH   SOLE   4,411 0 0
Northeast Utilities COM 664397106 270 6,103 SH   SOLE   6,103 0 0
Novartis Ag-ADR COM 66987v109 3,953 41,997 SH   SOLE   41,997 0 0
Occidental Petroleum Corp COM 674599105 6,494 67,545 SH   SOLE   67,545 0 0
Oracle Corp COM 68389x105 3,270 85,432 SH   SOLE   85,432 0 0
Owens Realty Mortgage Inc COM 690828108 852 59,802 SH   SOLE   59,802 0 0
P G & E Corp COM 69331c108 473 10,508 SH   SOLE   10,508 0 0
Paccar Inc COM 693718108 1,551 27,270 SH   SOLE   27,270 0 0
Pembina Pipeline Corp COM 706327103 209 4,964 SH   SOLE   4,964 0 0
PepsiCo Inc COM 713448108 7,638 82,054 SH   SOLE   82,054 0 0
Pfizer Inc COM 717081103 7,600 257,026 SH   SOLE   257,026 0 0
Pharmaceutical HOLDRs Trust COM 71712a206 566 8,900 SH   SOLE   8,900 0 0
Philip Morris International COM 718172109 2,187 26,219 SH   SOLE   26,219 0 0
Piedmont Mining Co Inc COM 720172105 0 10,000 SH   SOLE   10,000 0 0
Plains All American Pipeline L COM 726503105 354 6,022 SH   SOLE   6,022 0 0
Plum Creek Timber Co COM 729251108 208 5,339 SH   SOLE   5,339 0 0
Potash Corp Of Saskatchewan COM 73755l107 1,108 32,060 SH   SOLE   32,060 0 0
PowerShares Preferred Portfoli COM 73936t565 4,825 333,675 SH   SOLE   333,675 0 0
Powershares QQQ NASDAQ 100 Tru COM 73935a104 2,007 20,317 SH   SOLE   20,317 0 0
Praxair Inc COM 74005p104 2,828 21,920 SH   SOLE   21,920 0 0
Preferred Apartment Communitie COM 74039l103 1,395 167,650 SH   SOLE   167,650 0 0
ProLogis Inc COM 74340w103 285 7,552 SH   SOLE   7,552 0 0
Procter & Gamble Co COM 742718109 18,729 223,654 SH   SOLE   223,654 0 0
Public Service Enterprise Grou COM 744573106 1,660 44,583 SH   SOLE   44,583 0 0
Qualcomm Inc COM 747525103 1,164 15,573 SH   SOLE   15,573 0 0
Quest Diagnostics COM 74834l100 390 6,435 SH   SOLE   6,435 0 0
Realty Income Corp COM 756109104 5,809 142,411 SH   SOLE   142,411 0 0
Regeneron Pharmaceuticals Inc COM 75886f107 402 1,115 SH   SOLE   1,115 0 0
Retail Properties of America COM 76131v202 568 38,793 SH   SOLE   38,793 0 0
Robert Half Intl Inc COM 770323103 260 5,300 SH   SOLE   5,300 0 0
Roche Holdings LTD-Spons ADR COM 771195104 1,801 48,690 SH   SOLE   48,690 0 0
Rock Tenn Company - Class A COM 772739207 204 4,298 SH   SOLE   4,298 0 0
Rockwell Automation Inc COM 773903109 322 2,931 SH   SOLE   2,931 0 0
Rockwood Holdings Inc COM 774415103 1,547 20,233 SH   SOLE   20,233 0 0
Roper Industries Inc COM 776696106 256 1,750 SH   SOLE   1,750 0 0
Royal Dutch Shell Plc-ADR A COM 780259206 432 5,674 SH   SOLE   5,674 0 0
SPDR Consumer Discretionary Se COM 81369y407 2,705 40,556 SH   SOLE   40,556 0 0
SPDR Dow Jones Industrial Aver COM 78467x109 1,251 7,355 SH   SOLE   7,355 0 0
SPDR Energy Select Sector COM 81369y506 2,984 32,929 SH   SOLE   32,929 0 0
SPDR Financial Select Sector COM 81369y605 1,667 71,936 SH   SOLE   71,936 0 0
SPDR Gold Trust COM 78463v107 1,495 12,868 SH   SOLE   12,868 0 0
SPDR Health Care Select Sector COM 81369y209 3,420 53,520 SH   SOLE   53,520 0 0
SPDR Industrial Select Sector COM 81369y704 2,784 52,387 SH   SOLE   52,387 0 0
SPDR Materials Select Sector COM 81369y100 804 16,215 SH   SOLE   16,215 0 0
SPDR Metals & Mining ETF COM 78464a755 572 15,550 SH   SOLE   15,550 0 0
SPDR S&P Biotech ETF COM 78464a870 552 3,536 SH   SOLE   3,536 0 0
SPDR S&P Dividend ETF COM 78464a763 9,288 123,946 SH   SOLE   123,946 0 0
SPDR S&P International Small C COM 78463x871 439 13,435 SH   SOLE   13,435 0 0
SPDR S&P MidCap 400 ETF Trust COM 78467y107 4,951 19,857 SH   SOLE   19,857 0 0
SPDR S&P500 Index Trust Series COM 78462f103 7,440 37,764 SH   SOLE   37,764 0 0
SPDR Technology Select Sector COM 81369y803 4,076 102,165 SH   SOLE   102,165 0 0
Salesforce.Com Inc COM 79466l302 405 7,034 SH   SOLE   7,034 0 0
Sanofi-ADR COM 80105n105 5,052 89,535 SH   SOLE   89,535 0 0
Scana Corp COM 80589m102 717 14,457 SH   SOLE   14,457 0 0
Schlumberger Ltd COM 806857108 3,179 31,262 SH   SOLE   31,262 0 0
Schwab (Charles) Corp COM 808513105 490 16,675 SH   SOLE   16,675 0 0
Schwab Intl Equity ETF COM 808524805 243 7,834 SH   SOLE   7,834 0 0
Schwab U.S. Broad Market ETF COM 808524102 1,366 28,729 SH   SOLE   28,729 0 0
Schwab U.S. Large-Cap ETF COM 808524201 2,205 46,916 SH   SOLE   46,916 0 0
Schwab U.S. Mid-Cap ETF COM 808524508 1,601 41,361 SH   SOLE   41,361 0 0
Schwab U.S. Small-Cap ETF COM 808524607 975 18,960 SH   SOLE   18,960 0 0
Schwab US Dividend Equity ETF COM 808524797 755 19,567 SH   SOLE   19,567 0 0
Sempra Energy COM 816851109 2,487 23,599 SH   SOLE   23,599 0 0
Siemens Ag-Spons ADR COM 826197501 284 2,385 SH   SOLE   2,385 0 0
Sierra Vista Bank COM 82651b105 89 20,000 SH   SOLE   20,000 0 0
Silvercorp Metals Inc COM 82835p103 16 10,000 SH   SOLE   10,000 0 0
Sirius XM Holdings Inc COM 82968b103 416 119,284 SH   SOLE   119,284 0 0
Southern Co COM 842587107 2,562 58,699 SH   SOLE   58,699 0 0
Southwestern Energy Co COM 845467109 882 25,231 SH   SOLE   25,231 0 0
Spectra Energy Corp COM 847560109 5,112 130,209 SH   SOLE   130,209 0 0
Spectral Diagnostics Inc COM 847574100 8 25,000 SH   SOLE   25,000 0 0
Sprott Resource Corp COM 85207d103 285 115,320 SH   SOLE   115,320 0 0
St Jude Medical Inc COM 790849103 761 12,651 SH   SOLE   12,651 0 0
Stanley Black & Decker Inc COM 854502101 3,767 42,426 SH   SOLE   42,426 0 0
Starbucks Corp COM 855244109 1,889 25,032 SH   SOLE   25,032 0 0
State Street Corp COM 857477103 301 4,088 SH   SOLE   4,088 0 0
Stryker Corp COM 863667101 310 3,835 SH   SOLE   3,835 0 0
Suncor Energy Inc COM 867224107 358 9,900 SH   SOLE   9,900 0 0
Sunoco Logistics Partners LP COM 86764l108 217 4,500 SH   SOLE   4,500 0 0
TD Ameritrade Holding Corp COM 87236y108 1,556 46,640 SH   SOLE   46,640 0 0
TJX Companies Inc COM 872540109 383 6,465 SH   SOLE   6,465 0 0
Target Corp COM 87612e106 5,565 88,785 SH   SOLE   88,785 0 0
Tesla Motors Inc COM 88160r101 286 1,180 SH   SOLE   1,180 0 0
Teva Pharmaceutical-Sp ADR COM 881624209 539 10,037 SH   SOLE   10,037 0 0
Texas Instruments Inc COM 882508104 229 4,800 SH   SOLE   4,800 0 0
Thermo Fisher Scientific Inc COM 883556102 250 2,050 SH   SOLE   2,050 0 0
Toronto-Dominion Bank COM 891160509 4,206 85,162 SH   SOLE   85,162 0 0
Total SA-Spon ADR COM 89151e109 242 3,753 SH   SOLE   3,753 0 0
Toyota Motor Corp -Spon ADR COM 892331307 1,935 16,465 SH   SOLE   16,465 0 0
Travelers Cos Inc/The COM 89417e109 3,175 33,794 SH   SOLE   33,794 0 0
Tri-Valley Corporation COM 895735108 0 30,600 SH   SOLE   30,600 0 0
Turquoise Hill Resources Ltd COM 900435108 112 30,000 SH   SOLE   30,000 0 0
Twenty-First Century Fox-B (fo COM 90130a200 2,364 70,962 SH   SOLE   70,962 0 0
US Bancorp COM 902973304 1,885 45,056 SH   SOLE   45,056 0 0
Unilever N V -NY Shares COM 904784709 2,860 72,087 SH   SOLE   72,087 0 0
Unilever Plc-Sponsored ADR COM 904767704 1,841 43,932 SH   SOLE   43,932 0 0
Union Pacific Corp COM 907818108 1,120 10,329 SH   SOLE   10,329 0 0
United Parcel Service-Cl B COM 911312106 6,960 70,814 SH   SOLE   70,814 0 0
United Technologies Corp COM 913017109 2,906 27,521 SH   SOLE   27,521 0 0
UnitedHealth Group Inc COM 91324P102 1,081 12,539 SH   SOLE   12,539 0 0
Utilities Select Sector SPDR COM 81369y886 833 19,780 SH   SOLE   19,780 0 0
Vanguard Consumer Discretionar COM 92204a108 356 3,279 SH   SOLE   3,279 0 0
Vanguard Consumer Staples Vipe COM 92204a207 268 2,280 SH   SOLE   2,280 0 0
Vanguard Dividend Appreciation COM 921908844 448 5,820 SH   SOLE   5,820 0 0
Vanguard FTSE All-World Ex-US COM 922042775 209 4,248 SH   SOLE   4,248 0 0
Vanguard Health Care Vipers COM 92204a504 292 2,500 SH   SOLE   2,500 0 0
Vanguard High Div Yield ETF COM 921946406 1,704 25,661 SH   SOLE   25,661 0 0
Vanguard Info Tech Vipers COM 92204a702 385 3,850 SH   SOLE   3,850 0 0
Vanguard Large-Cap Vipers ETF COM 922908637 1,013 11,201 SH   SOLE   11,201 0 0
Vanguard MSCI EAFE Index ETF COM 921943858 2,376 59,783 SH   SOLE   59,783 0 0
Vanguard MSCI Emerging Market COM 922042858 2,625 62,925 SH   SOLE   62,925 0 0
Vanguard Mid-Cap Vipers COM 922908629 4,412 37,609 SH   SOLE   37,609 0 0
Vanguard REIT Vipers COM 922908553 725 10,093 SH   SOLE   10,093 0 0
Vanguard Small-Cap Vipers COM 922908751 5,709 51,606 SH   SOLE   51,606 0 0
Vanguard Total Stock Mk Vipers COM 922908769 10,047 99,237 SH   SOLE   99,237 0 0
Varian Medical Systems Inc COM 92220P105 895 11,172 SH   SOLE   11,172 0 0
Verizon Communications Inc COM 92343v104 23,707 474,232 SH   SOLE   474,232 0 0
Vertex Pharmaceutical Inc COM 92532f100 313 2,789 SH   SOLE   2,789 0 0
Visa Inc-Class A Shares COM 92826c839 504 2,363 SH   SOLE   2,363 0 0
Vodafone Group PLC-Sp ADR COM 92857w308 272 8,270 SH   SOLE   8,270 0 0
Vornado Realty Trust COM 929042109 4,767 47,686 SH   SOLE   47,686 0 0
Voyant International Corp COM 92909w108 0 53,652 SH   SOLE   53,652 0 0
Wal-Mart Stores Inc COM 931142103 1,098 14,364 SH   SOLE   14,364 0 0
Walgreen Co COM 931422109 6,884 116,147 SH   SOLE   116,147 0 0
Waste Management Inc COM 94106l109 6,394 134,531 SH   SOLE   134,531 0 0
WellPoint Inc COM 94973V107 2,297 19,200 SH   SOLE   19,200 0 0
Wells Fargo & Company COM 949746101 28,214 543,934 SH   SOLE   543,934 0 0
Westamerica Bancorportaion COM 957090103 654 14,052 SH   SOLE   14,052 0 0
Weyerhaeuser Co COM 962166104 1,177 36,940 SH   SOLE   36,940 0 0
Whirlpool Corp COM 963320106 2,227 15,287 SH   SOLE   15,287 0 0
White Mountains Insurance Grou COM G9618E107 670 1,063 SH   SOLE   1,063 0 0
Whole Foods Market Inc COM 966837106 4,621 121,253 SH   SOLE   121,253 0 0
Williams Cos Inc COM 969457100 9,221 166,595 SH   SOLE   166,595 0 0
Wisconsin Energy Corp COM 976657106 2,572 59,813 SH   SOLE   59,813 0 0
Xcel Energy Inc COM 98389b100 222 7,299 SH   SOLE   7,299 0 0
Xylem Inc COM 98419m100 298 8,406 SH   SOLE   8,406 0 0
Yahoo! Inc COM 984332106 1,239 30,396 SH   SOLE   30,396 0 0
Yum! Brands Inc COM 988498101 353 4,911 SH   SOLE   4,911 0 0
Zimmer Holdings Inc COM 98956p102 1,336 13,288 SH   SOLE   13,288 0 0
Zogenix Inc COM 98978l105 12 10,000 SH   SOLE   10,000 0 0
iPath DJ-UBS Copper Total Retu COM 06739f101 549 15,105 SH   SOLE   15,105 0 0
iShares DJ EPAC Sel Div Inc In COM 464288448 3,021 84,404 SH   SOLE   84,404 0 0
iShares DJ Select Dividend Ind COM 464287168 6,302 85,321 SH   SOLE   85,321 0 0
iShares DJ US Consumer Noncycl COM 464287812 210 2,125 SH   SOLE   2,125 0 0
iShares DJ US Energy Sector COM 464287796 248 4,817 SH   SOLE   4,817 0 0
iShares DJ US Financial Sect COM 464287788 1,049 12,527 SH   SOLE   12,527 0 0
iShares DJ US Healthcare Sec COM 464287762 246 1,829 SH   SOLE   1,829 0 0
iShares DJ US Telecommunicatio COM 464287713 451 15,062 SH   SOLE   15,062 0 0
iShares FTSE/Xinhua China 25 COM 464287184 288 7,525 SH   SOLE   7,525 0 0
iShares MSCI Brazil Index COM 464286400 498 11,450 SH   SOLE   11,450 0 0
iShares MSCI Canada Index COM 464286509 223 7,250 SH   SOLE   7,250 0 0
iShares MSCI EAFE Index COM 464287465 1,976 30,816 SH   SOLE   30,816 0 0
iShares MSCI Emerging Markets COM 464287234 590 14,195 SH   SOLE   14,195 0 0
iShares MSCI Hong Kong Index - COM 464286871 355 17,465 SH   SOLE   17,465 0 0
iShares MSCI Pacific Ex Japan COM 464286665 489 10,610 SH   SOLE   10,610 0 0
iShares MSCI Singapore Index COM 464286673 135 10,117 SH   SOLE   10,117 0 0
iShares MSCI USA Quality Facto COM 46432f339 685 11,495 SH   SOLE   11,495 0 0
iShares Microcap ETF COM 464288869 434 6,249 SH   SOLE   6,249 0 0
iShares Nasdaq Biotech Index F COM 464287556 1,910 6,980 SH   SOLE   6,980 0 0
iShares Russell 1000 Growth COM 464287614 747 8,150 SH   SOLE   8,150 0 0
iShares Russell 1000 Value COM 464287598 301 3,005 SH   SOLE   3,005 0 0
iShares Russell 2000 Index Fun COM 464287655 825 7,549 SH   SOLE   7,549 0 0
iShares Russell Midcap Index COM 464287499 332 2,097 SH   SOLE   2,097 0 0
iShares Russell Midcap Value I COM 464287473 315 4,500 SH   SOLE   4,500 0 0
iShares S&P 100 Index Fund COM 464287101 1,227 13,921 SH   SOLE   13,921 0 0
iShares S&P 500 Index Fund COM 464287200 513 2,589 SH   SOLE   2,589 0 0
iShares S&P Europe 350 COM 464287861 3,179 70,530 SH   SOLE   70,530 0 0
iShares S&P GSCI Commodity-Ind COM 46428r107 407 13,765 SH   SOLE   13,765 0 0
iShares S&P Global 100 COM 464287572 705 9,101 SH   SOLE   9,101 0 0
iShares S&P Latin American 40 COM 464287390 680 18,425 SH   SOLE   18,425 0 0
iShares S&P Midcap 400 COM 464287507 1,326 9,694 SH   SOLE   9,694 0 0
iShares S&P Midcap 400/Value COM 464287705 395 3,285 SH   SOLE   3,285 0 0
iShares S&P SmallCap 600 COM 464287804 536 5,143 SH   SOLE   5,143 0 0
iShares S&P US Preferred Stock COM 464288687 9,247 233,974 SH   SOLE   233,974 0 0
AEGON 8.00% 2042 Notes Call 08 PFD 007924608 4,036 141,479 SH   SOLE   141,479 0 0
AON Cap 8.205% 1/27 Non-Call B PFD 22532r101 1,812 57,979 SH   SOLE   57,979 0 0
Allied Capital ARCC6.875% 4/20 PFD 01903q207 438 17,309 SH   SOLE   17,309 0 0
American Capital Agency 8.0% P PFD 02503x204 995 39,048 SH   SOLE   39,048 0 0
American Capital Agncy 7.75% P PFD 02503x303 454 18,590 SH   SOLE   18,590 0 0
Amtrust Financial 7.25% CUM QD PFD 032359507 266 10,950 SH   SOLE   10,950 0 0
Amtrust Financial 7.625%CUM QD PFD 032359705 754 30,400 SH   SOLE   30,400 0 0
Annaly Capital 7.625% Perp Cl PFD 035710706 240 9,767 SH   SOLE   9,767 0 0
Arch Capital 6.75% BBB QDI Cl PFD g0450a204 698 26,024 SH   SOLE   26,024 0 0
Ares Capital 7.75% 2040 Call 1 PFD 04010l202 4,295 163,506 SH   SOLE   163,506 0 0
Argo Group 6.5% Sr Notes Call PFD 040130205 272 11,350 SH   SOLE   11,350 0 0
Ashford Hospitality 9.0% NR Ca PFD 044103505 1,207 44,366 SH   SOLE   44,366 0 0
Aspen Insurance 7.25% Call07/2 PFD g05384147 5,716 219,420 SH   SOLE   219,420 0 0
Aspen Insurance 7.401% Call 07 PFD g05384139 609 23,038 SH   SOLE   23,038 0 0
Atlas Pipeline 8.25% Cl 3/19 C PFD 049392301 1,072 41,695 SH   SOLE   41,695 0 0
Aviva 8.25% 12/2041 Call 12/20 PFD 05382a203 9,995 356,338 SH   SOLE   356,338 0 0
Axis Capital 6.875% Cl 4/17 QD PFD g0692u307 488 18,850 SH   SOLE   18,850 0 0
BAC Flt LIB+35 BB NCU QDI Cl 1 PFD 060505815 239 10,668 SH   SOLE   10,668 0 0
BB&T Capital 5.625% Call 8/201 PFD 054937404 203 8,758 SH   SOLE   8,758 0 0
BGC Partners 8.125% 2042 Call PFD 05541t408 3,969 147,991 SH   SOLE   147,991 0 0
Banc of California 8.00% Perp PFD 05990k403 303 11,580 SH   SOLE   11,580 0 0
Banco Santander 6.80% QDI Clbl PFD 80281r706 280 11,074 SH   SOLE   11,074 0 0
Bank of America 6.625%Prp Cl 1 PFD 060505740 504 19,602 SH   SOLE   19,602 0 0
Barclay's 6.625% Perpetual 9/1 PFD 06739f390 207 8,169 SH   SOLE   8,169 0 0
Barclays 7.75% Prp Cl 9/13 BB PFD 06739h511 703 27,171 SH   SOLE   27,171 0 0
Barclays 8.125% Perp/Cl 3/14 B PFD 06739h362 1,447 55,720 SH   SOLE   55,720 0 0
Barclays Bank 7.1% Prp Call 12 PFD 06739h776 1,072 41,641 SH   SOLE   41,641 0 0
Breitburn Energy Partners 8.25 PFD 106776115 377 14,892 SH   SOLE   14,892 0 0
Campus Crest Comm 8.00% Perp C PFD 13466y204 1,611 64,181 SH   SOLE   64,181 0 0
CenturyLink Quest 6.125%Nts Cl PFD 74913g600 244 10,500 SH   SOLE   10,500 0 0
CenturyLink Quest 7.0%SnNts Cl PFD 74913g501 2,486 98,815 SH   SOLE   98,815 0 0
CenturyLink Quest7.375% 6/51 C PFD 74913g204 1,208 46,422 SH   SOLE   46,422 0 0
CenturyLink SnNote7.5% 2051 Cl PFD 74913g303 5,848 224,587 SH   SOLE   224,587 0 0
CenturyLink SnNotes 6.875% CL PFD 74913g105 533 21,900 SH   SOLE   21,900 0 0
CenturyLink SnNotes 7.0% 2050 PFD 74913G402 1,366 54,300 SH   SOLE   54,300 0 0
Chesapeake Lodging 7.75% PerpC PFD 165240201 2,530 96,819 SH   SOLE   96,819 0 0
Citigroup 5.8% B1 Call 4/18 QD PFD 172967366 257 10,800 SH   SOLE   10,800 0 0
Citigroup 7.125% FxdtoFlt Cl 9 PFD 172967358 3,933 147,145 SH   SOLE   147,145 0 0
Citigroup Tst 7.875% Cl2015 Li PFD 173080201 315 11,710 SH   SOLE   11,710 0 0
Colony Financial8.50% Perp CUM PFD 19624r205 224 8,315 SH   SOLE   8,315 0 0
Corporate Office Prop 7.375% C PFD 22002t884 2,013 77,293 SH   SOLE   77,293 0 0
Costamare 7.625% CUM QDI Perp PFD y1771g110 363 13,991 SH   SOLE   13,991 0 0
Costamare 8.50% CUM QDI Perp C PFD y1771g128 2,524 96,502 SH   SOLE   96,502 0 0
CubeSmart 7.75%CUM Call 11/2/2 PFD 229663208 516 19,535 SH   SOLE   19,535 0 0
DTE Energy 6.5% Jr Sub Call 12 PFD 233331602 1,531 59,410 SH   SOLE   59,410 0 0
Deutsche Bank 8.05% PrpCl6/18 PFD 25150l108 3,226 113,314 SH   SOLE   113,314 0 0
Deutsche Bk Tst6.55%Perp Cl 5/ PFD 25153x208 605 23,353 SH   SOLE   23,353 0 0
Deutsche Bnk 6.625% Prp Cl 8/1 PFD 25153y206 288 11,363 SH   SOLE   11,363 0 0
Deutsche Bnk 7.6% Prp Cl 2/18 PFD 25154a108 1,592 57,427 SH   SOLE   57,427 0 0
Digital Realty 6.625% Perp CUM PFD 253868806 560 22,203 SH   SOLE   22,203 0 0
Digital Realty 7.0% Perp Call PFD 253868707 3,725 144,720 SH   SOLE   144,720 0 0
Discover Financial 6.50%Perp Q PFD 254709207 1,735 68,768 SH   SOLE   68,768 0 0
Dominion Res 8.375% BBB Called PFD 25746u604 709 28,155 SH   SOLE   28,155 0 0
Endurance Specialty 7.5% Cl 6/ PFD g30397304 2,557 98,959 SH   SOLE   98,959 0 0
Endurance Specialty 7.75% Cl12 PFD 29267h208 3,760 144,000 SH   SOLE   144,000 0 0
Equity Comwlth 7.25% CUM Perp/ PFD 294628409 581 22,573 SH   SOLE   22,573 0 0
Excel Trust 8.125% CUM Call 1/ PFD 30068c307 1,518 57,610 SH   SOLE   57,610 0 0
First Republic 7.0% Cl 12/18 B PFD 33616c860 1,551 58,800 SH   SOLE   58,800 0 0
First Republic Bank 6.2% Cl 6/ PFD 33616c407 734 29,635 SH   SOLE   29,635 0 0
First Republic Bank 6.70% Cl20 PFD 33616c209 1,670 65,577 SH   SOLE   65,577 0 0
Five Oaks Investment 8.75%Perp PFD 33830w205 318 12,610 SH   SOLE   12,610 0 0
Gastar Exploration 10.75%Perp PFD 36729p306 319 11,378 SH   SOLE   11,378 0 0
General Growth Prop 6.375% Cl PFD 370023202 371 15,100 SH   SOLE   15,100 0 0
GoldmanSachs Lib+75 Min3.75% C PFD 38143y665 655 33,545 SH   SOLE   33,545 0 0
Goodrich Petroleum 9.75%CUM Q PFD 382410884 378 14,904 SH   SOLE   14,904 0 0
HSBC 6.36% Perp Callable NCU Q PFD 40429c607 777 30,985 SH   SOLE   30,985 0 0
HSBC Float 4.5%FL Clbl CUM QDI PFD 40428h706 401 15,963 SH   SOLE   15,963 0 0
HSBC Hldgs 8.0% Prp Cl 12/15 B PFD 404280802 5,400 202,697 SH   SOLE   202,697 0 0
Hanover Insurance 6.35% Cl 3/1 PFD 410867204 294 12,200 SH   SOLE   12,200 0 0
Hartford Finl 7.875% 2042 call PFD 416518504 1,511 51,050 SH   SOLE   51,050 0 0
Hudson Pacific 8.375% Perp N/R PFD 444097208 1,135 43,487 SH   SOLE   43,487 0 0
ING Groep NV 7 3/8% Cl 10/12 B PFD 456837707 1,769 69,249 SH   SOLE   69,249 0 0
ING Grp NV 7.20%Pfd Perp/Cl l2 PFD 456837301 302 11,763 SH   SOLE   11,763 0 0
Investors REIT 7.95% Perp CUM PFD 461730301 968 37,042 SH   SOLE   37,042 0 0
JMP Group 8.00% SrDeb Due1/202 PFD 46629u206 217 8,549 SH   SOLE   8,549 0 0
JPMorgan Chse 6.70%Perp/Call 3 PFD 48127a161 1,028 40,231 SH   SOLE   40,231 0 0
KKR Financial 7.375% Prp Call PFD 48248a603 649 25,150 SH   SOLE   25,150 0 0
KKR Financial 7.50% SrNts Call PFD 48248a504 4,999 187,387 SH   SOLE   187,387 0 0
KKR Financial 8.375%SrNts Call PFD 48248a405 1,742 62,220 SH   SOLE   62,220 0 0
Kimco Realty 6.90% Perp Call8/ PFD 49446r828 333 12,626 SH   SOLE   12,626 0 0
LaSalle Hotel 7.50% Perp CUM C PFD 517942702 2,033 77,495 SH   SOLE   77,495 0 0
M&T Bank 6.375% Cl 11/18 BBB- PFD 55261f708 563 569 SH   SOLE   569 0 0
Magnum Hunter 8.00% Perp Call PFD 55973b300 431 8,842 SH   SOLE   8,842 0 0
Maiden Hldgs 8.00% Nts 2042 ca PFD 56029q309 2,339 88,784 SH   SOLE   88,784 0 0
Maiden Hldgs 8.25% Nts 2041 ca PFD 56029q200 854 32,459 SH   SOLE   32,459 0 0
Maiden Holdings 8.25%Prp Cl8/2 PFD g5753u120 1,471 56,936 SH   SOLE   56,936 0 0
Merrill Lynch 7.28% Perp Cl 9/ PFD 59021k205 258 10,003 SH   SOLE   10,003 0 0
MetLife 3MoLibor+100 Min 4.0% PFD 59156r504 250 10,431 SH   SOLE   10,431 0 0
Montpelier RE 8.875% Perp QDI PFD g62185114 933 33,921 SH   SOLE   33,921 0 0
Morgan Stanley 3MoLib+70bp 4%F PFD 61747s504 484 24,313 SH   SOLE   24,313 0 0
Morgan Stanley 7.125% Fxd-Flt PFD 61762v200 1,174 43,635 SH   SOLE   43,635 0 0
National General Ins 7.50% Cal PFD 636220709 2,158 87,429 SH   SOLE   87,429 0 0
Navios Maritime 8.625% Perp CU PFD 63938y308 667 27,277 SH   SOLE   27,277 0 0
News Corp 7.00% 12/1/2095 call PFD 863117206 282 11,003 SH   SOLE   11,003 0 0
NorthStar Realty Fin 8.50% CUM PFD 66705V209 220 8,785 SH   SOLE   8,785 0 0
NuStar Logistics 7.625%Nts Cl PFD 67059t204 780 29,955 SH   SOLE   29,955 0 0
Oxford Lane Cap8.125% Cl6/2017 PFD 691543409 646 25,550 SH   SOLE   25,550 0 0
PS Business Parks 6.0% Cl 5/20 PFD 69360j685 314 13,041 SH   SOLE   13,041 0 0
Partner Re 7.25% Call 06/16 BB PFD g68603508 6,194 230,519 SH   SOLE   230,519 0 0
Pebblebrook Hotel 8.00%Perp Cu PFD 70509v308 2,654 100,162 SH   SOLE   100,162 0 0
Pebblebrook Hotel7.875%Perp Cu PFD 70509v209 824 32,107 SH   SOLE   32,107 0 0
Penn RealEstate 7.375%CUM Perp PFD 709102503 484 18,692 SH   SOLE   18,692 0 0
Pitney Bowes 6.7% Cl 3/7/18 PFD 724479506 365 14,100 SH   SOLE   14,100 0 0
Principal Fin 145Bp+30y QDI ($ PFD 74251v201 1,626 16,050 SH   SOLE   16,050 0 0
Prospect Captl 6.95% Sr Nts 20 PFD 74348t201 1,096 42,751 SH   SOLE   42,751 0 0
Prudential PLC 6.75% PrpCl 9/0 PFD g7293h114 757 29,578 SH   SOLE   29,578 0 0
Public Storage 5.90% Perp CUM PFD 74460w206 379 15,250 SH   SOLE   15,250 0 0
Public Storage 6.35% Call 7/16 PFD 74460d125 840 32,705 SH   SOLE   32,705 0 0
Public Storage 6.5% Perp Call PFD 74460d158 394 15,150 SH   SOLE   15,150 0 0
Public Storage 6.50% Call 4/20 PFD 74460d141 1,773 67,604 SH   SOLE   67,604 0 0
Public Storage 6.875% Prp Cl7/ PFD 74460d182 1,238 47,753 SH   SOLE   47,753 0 0
Raymond James Financial 6.90% PFD 754730208 772 29,535 SH   SOLE   29,535 0 0
Realty Income 6.625% Call 2/17 PFD 756109807 311 11,900 SH   SOLE   11,900 0 0
Regency Centers 6.00% Perp CUM PFD 758849806 442 18,100 SH   SOLE   18,100 0 0
Regions Financial 6.375% Cl 12 PFD 7591ep308 409 16,700 SH   SOLE   16,700 0 0
Reinsurance Group of Amer 6.2% PFD 759351703 407 14,800 SH   SOLE   14,800 0 0
Retail Properties of Amer 7.0% PFD 76131v608 486 18,900 SH   SOLE   18,900 0 0
SL Green Realty 6.5% Perp CUM PFD 78440x507 2,243 88,638 SH   SOLE   88,638 0 0
Safe Bulkers 8.00% Cumulative PFD y7388l129 758 31,190 SH   SOLE   31,190 0 0
Scana Corp 7.70% 2065 Cl1/2015 PFD 80589m201 1,947 75,470 SH   SOLE   75,470 0 0
Seaspan 8.25% Perp CUM QDI Cal PFD y75638133 1,132 42,787 SH   SOLE   42,787 0 0
So Cal Ed Flt $100 Callable NC PFD 842400756 1,795 17,482 SH   SOLE   17,482 0 0
Solar Capital 6.75% Cl 11/17 PFD 83413u308 300 12,500 SH   SOLE   12,500 0 0
Southern Cal Ed 6.5% $100 Cl3/ PFD 842400723 696 6,640 SH   SOLE   6,640 0 0
Strategic Hotels&Resorts 8.25% PFD 024296164 487 19,376 SH   SOLE   19,376 0 0
Summit Hotel 7.875% Perp CUM C PFD 866082308 1,561 58,048 SH   SOLE   58,048 0 0
Sunstone Hotel 8.00% Perp CUM PFD 867592507 343 12,839 SH   SOLE   12,839 0 0
Taubman Centers 6.5% CUM NA Cl PFD 876664608 252 9,951 SH   SOLE   9,951 0 0
Teekay Offshore 7.25%Perp CUM PFD y8565j127 541 21,831 SH   SOLE   21,831 0 0
Telephone & Data 6.875% Cl 11/ PFD 879433845 3,489 141,499 SH   SOLE   141,499 0 0
Telephone & Data 7.0% Cl 3/16 PFD 879433837 866 34,621 SH   SOLE   34,621 0 0
US Bancorp 6.5% FxdToFlt Cl 2/ PFD 902973833 1,595 55,630 SH   SOLE   55,630 0 0
US Cellular 6.95% 2060 Cl 05/2 PFD 911684405 393 15,535 SH   SOLE   15,535 0 0
Vanguard Natrl Resources 7.625 PFD 92205f304 373 15,062 SH   SOLE   15,062 0 0
Vornado Realty 5.7% Prp Cl 7/1 PFD 929042851 281 11,760 SH   SOLE   11,760 0 0
Vornado Realty 6.875% Prp/Cl 4 PFD 929042869 3,283 124,200 SH   SOLE   124,200 0 0
Vornado Realty7.875% BBB Calle PFD 929043602 213 8,450 SH   SOLE   8,450 0 0
Wells Fargo 7.5% Cnv/Prp$1000 PFD 949746804 2,264 1,882 SH   SOLE   1,882 0 0
Wells Fargo 8.00% Prp Cl12/17 PFD 949746879 13,400 461,733 SH   SOLE   461,733 0 0
Charles Schwab 7% Perp/Call 2/ PFD 808513AE5 2,373 2,037,000 PRN   SOLE   2,037,000 0 0
Citigroup Inc 5.95% Perp Call PFD 172967GD7 291 295,000 PRN   SOLE   295,000 0 0
GE Cap Corp 6.25% Perp/Call 12 PFD 369622SP1 378 350,000 PRN   SOLE   350,000 0 0
GE Cap Corp 7.125% Perp/Call 6 PFD 369622SN6 2,043 1,765,000 PRN   SOLE   1,765,000 0 0
JPMorgan 7.9% Perp/Call 4/18 - PFD 46625HHA1 2,582 2,380,000 PRN   SOLE   2,380,000 0 0
So. Cal Edison 6.25% Perp/Call PFD 842400FU2 1,146 1,050,000 PRN   SOLE   1,050,000 0 0
Wachovia (WFC) Perp/Call 2/11 PFD 92978AAA0 5,279 5,470,000 PRN   SOLE   5,470,000 0 0
Wells Fargo & Company Perp/Cal PFD 949746PM7 590 540,000 PRN   SOLE   540,000 0 0