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 452 200 SH   SOLE   200 0 0
3M Co COM 88579y101 11,690 71,143 SH   SOLE   71,143 0 0
ABB Ltd -Spon ADR COM 000375204 3,561 168,351 SH   SOLE   168,351 0 0
AGL Resources Inc COM 001204106 3,692 67,731 SH   SOLE   67,731 0 0
AT&T Inc COM 00206r102 10,421 310,229 SH   SOLE   310,229 0 0
AbbVie Inc COM 00287y109 9,374 143,242 SH   SOLE   143,242 0 0
Abbott Laboratories COM 002824100 9,743 216,411 SH   SOLE   216,411 0 0
Accenture PLC-Cl A COM g1151c101 3,663 41,013 SH   SOLE   41,013 0 0
Actavis LTD COM g0083b108 574 2,228 SH   SOLE   2,228 0 0
Adobe Systems Inc COM 00724f101 487 6,700 SH   SOLE   6,700 0 0
Aetna Inc COM 00817Y108 565 6,360 SH   SOLE   6,360 0 0
Aflac Inc COM 001055102 238 3,904 SH   SOLE   3,904 0 0
Agilent Technologies Inc COM 00846u101 742 18,136 SH   SOLE   18,136 0 0
Air Products & Chemicals Inc COM 009158106 4,725 32,759 SH   SOLE   32,759 0 0
Alerian MLP ETF COM 00162q866 316 18,038 SH   SOLE   18,038 0 0
Allegion PLC COM g0176j109 212 3,821 SH   SOLE   3,821 0 0
Alliance Data Systems Corp COM 018581108 355 1,240 SH   SOLE   1,240 0 0
Allstate Corp COM 020002101 387 5,512 SH   SOLE   5,512 0 0
Altria Group Inc COM 02209s103 7,866 159,646 SH   SOLE   159,646 0 0
Amarillo Gold Corp COM 02301t108 78 1,400,000 SH   SOLE   1,400,000 0 0
American Electric Power COM 025537101 526 8,666 SH   SOLE   8,666 0 0
American Express Co COM 025816109 3,265 35,098 SH   SOLE   35,098 0 0
American International Group COM 026874784 218 3,891 SH   SOLE   3,891 0 0
AmerisourceBergen Corp COM 03073e105 332 3,680 SH   SOLE   3,680 0 0
Amgen Inc COM 031162100 2,117 13,288 SH   SOLE   13,288 0 0
Anthem Inc COM 036752103 2,409 19,170 SH   SOLE   19,170 0 0
Apple Inc COM 037833100 23,354 211,574 SH   SOLE   211,574 0 0
Archer-Daniels-Midland Co COM 039483102 694 13,353 SH   SOLE   13,353 0 0
Automatic Data Processing COM 053015103 10,273 123,219 SH   SOLE   123,219 0 0
BCE Inc COM 05534b760 2,991 65,224 SH   SOLE   65,224 0 0
Bank Of Marin Bancorp/CA COM 063425102 652 12,401 SH   SOLE   12,401 0 0
Bank of America Corp COM 060505104 3,085 172,448 SH   SOLE   172,448 0 0
Bank of Montreal COM 063671101 733 10,370 SH   SOLE   10,370 0 0
Baxter International Inc. COM 071813109 623 8,503 SH   SOLE   8,503 0 0
Becton Dickinson & Co COM 075887109 881 6,332 SH   SOLE   6,332 0 0
Berkshire Hathaway Inc-Cl B COM 084670702 3,209 21,371 SH   SOLE   21,371 0 0
Biogen Idec Inc COM 09062x103 1,488 4,384 SH   SOLE   4,384 0 0
Blackrock Inc COM 09247x101 250 699 SH   SOLE   699 0 0
Blackstone Group/The COM 09253u108 690 20,407 SH   SOLE   20,407 0 0
Boeing Co COM 097023105 3,125 24,045 SH   SOLE   24,045 0 0
Bristol-Myers Squibb Co COM 110122108 15,675 265,549 SH   SOLE   265,549 0 0
CBS Corp-Class B COM 124857202 349 6,311 SH   SOLE   6,311 0 0
CDK Global Inc COM 12508e101 252 6,184 SH   SOLE   6,184 0 0
CVS Health Corp COM 126650100 4,260 44,227 SH   SOLE   44,227 0 0
California Resources Corp COM 13057q107 82 14,901 SH   SOLE   14,901 0 0
CarMax Inc COM 143130102 235 3,524 SH   SOLE   3,524 0 0
Carlyle Group/The COM 14309l102 2,270 82,536 SH   SOLE   82,536 0 0
Caterpillar Inc COM 149123101 1,948 21,278 SH   SOLE   21,278 0 0
Celgene Corp COM 151020104 557 4,983 SH   SOLE   4,983 0 0
CenterPoint Energy Inc COM 15189t107 2,580 110,114 SH   SOLE   110,114 0 0
Cerner Corp COM 156782104 2,343 36,240 SH   SOLE   36,240 0 0
Cerus Corp COM 157085101 62 10,000 SH   SOLE   10,000 0 0
Check Point Software Tech COM m22465104 408 5,191 SH   SOLE   5,191 0 0
Chevron Corp COM 166764100 25,069 223,467 SH   SOLE   223,467 0 0
Chubb Corp COM 171232101 3,161 30,550 SH   SOLE   30,550 0 0
Cisco Systems Inc COM 17275R102 3,380 121,508 SH   SOLE   121,508 0 0
Citigroup Inc COM 172967424 407 7,524 SH   SOLE   7,524 0 0
Clorox Company COM 189054109 8,543 81,975 SH   SOLE   81,975 0 0
Coca-Cola Co/The COM 191216100 5,063 119,927 SH   SOLE   119,927 0 0
Colgate-Palmolive Co COM 194162103 8,269 119,506 SH   SOLE   119,506 0 0
Comcast Corp-Cl A COM 20030n101 6,715 115,753 SH   SOLE   115,753 0 0
Comerica Inc COM 200340107 764 16,319 SH   SOLE   16,319 0 0
Conagra Foods Inc COM 205887102 1,223 33,706 SH   SOLE   33,706 0 0
ConocoPhillips COM 20825C104 14,826 214,686 SH   SOLE   214,686 0 0
Consolidated Edison Inc COM 209115104 1,149 17,408 SH   SOLE   17,408 0 0
Consumer Staples SPDR COM 81369y308 4,386 90,456 SH   SOLE   90,456 0 0
Costco Wholesale Corp COM 22160K105 12,545 88,502 SH   SOLE   88,502 0 0
DIRECTV Group Inc/The COM 25490a309 384 4,433 SH   SOLE   4,433 0 0
DTE Energy Company COM 233331107 522 6,047 SH   SOLE   6,047 0 0
Danaher Corp COM 235851102 4,348 50,729 SH   SOLE   50,729 0 0
Deere & Co COM 244199105 1,543 17,440 SH   SOLE   17,440 0 0
Deluxe Corp COM 248019101 218 3,500 SH   SOLE   3,500 0 0
Diageo Plc-Sponsored ADR COM 25243q205 407 3,569 SH   SOLE   3,569 0 0
Dick's Sporting Goods Inc COM 253393102 821 16,538 SH   SOLE   16,538 0 0
Disney Co./Walt The COM 254687106 6,851 72,738 SH   SOLE   72,738 0 0
Dominion Resources Inc/Va COM 25746u109 598 7,778 SH   SOLE   7,778 0 0
Dow Chemical COM 260543103 422 9,248 SH   SOLE   9,248 0 0
Dr Pepper Snapple Group Inc COM 26138e109 816 11,388 SH   SOLE   11,388 0 0
Du Pont (E.I.) De Nemours COM 263534109 9,496 128,426 SH   SOLE   128,426 0 0
Duke Energy Corp COM 26441c204 4,062 48,625 SH   SOLE   48,625 0 0
EGShares Emerging Markets Cons COM 268461779 4,755 187,660 SH   SOLE   187,660 0 0
EMC Corp/Mass COM 268648102 555 18,666 SH   SOLE   18,666 0 0
ETFS Physical Precious Metals COM 26922w109 580 9,520 SH   SOLE   9,520 0 0
Eaton Corp PLC COM g29183103 1,314 19,328 SH   SOLE   19,328 0 0
Ecolab Inc COM 278865100 5,468 52,318 SH   SOLE   52,318 0 0
Edison International COM 281020107 4,612 70,438 SH   SOLE   70,438 0 0
Eli Lilly & Co COM 532457108 3,808 55,193 SH   SOLE   55,193 0 0
Emerson Electric Co COM 291011104 2,146 34,768 SH   SOLE   34,768 0 0
Encounter Technologies Inc COM 29259j303 0 62,000 SH   SOLE   62,000 0 0
EnerSys COM 29275y102 273 4,430 SH   SOLE   4,430 0 0
Energy Transfer Equity LP COM 29273v100 459 8,000 SH   SOLE   8,000 0 0
Energy Transfer Partners LP COM 29273r109 266 4,090 SH   SOLE   4,090 0 0
Enterprise Products Partners COM 293792107 1,545 42,765 SH   SOLE   42,765 0 0
Equity Residential COM 29476l107 222 3,090 SH   SOLE   3,090 0 0
Essex Property Trust Inc COM 297178105 477 2,310 SH   SOLE   2,310 0 0
Eurasian Minerals Inc COM 29843r100 41 54,086 SH   SOLE   54,086 0 0
Express Scripts Holding Co. COM 30219g108 1,203 14,214 SH   SOLE   14,214 0 0
Exxon Mobil Corp COM 30231G102 13,854 149,849 SH   SOLE   149,849 0 0
Facebook Inc COM 30303m102 415 5,324 SH   SOLE   5,324 0 0
FedEx Corp COM 31428x106 620 3,570 SH   SOLE   3,570 0 0
First Trust Dividend Leaders I COM 336917109 1,308 54,569 SH   SOLE   54,569 0 0
First Trust Mid Cap Growth Alp COM 33737m102 365 12,412 SH   SOLE   12,412 0 0
First Trust Mid Cap Value ETF COM 33737m201 284 9,168 SH   SOLE   9,168 0 0
Flagstar Bancorp Inc COM 337930705 157 10,000 SH   SOLE   10,000 0 0
Fluor Corp COM 343412102 250 4,120 SH   SOLE   4,120 0 0
Ford Motor Co COM 345370860 2,221 143,308 SH   SOLE   143,308 0 0
Fortinet Inc COM 34959e109 219 7,150 SH   SOLE   7,150 0 0
Franklin Resources Inc COM 354613101 361 6,525 SH   SOLE   6,525 0 0
Freeport-McMoRan Copper & Gold COM 35671d857 1,780 76,191 SH   SOLE   76,191 0 0
Frontier Communications Corp COM 35906a108 106 15,958 SH   SOLE   15,958 0 0
General Dynamics Corp COM 369550108 2,160 15,693 SH   SOLE   15,693 0 0
General Electric Co COM 369604103 17,396 688,394 SH   SOLE   688,394 0 0
General Mills Inc COM 370334104 5,025 94,225 SH   SOLE   94,225 0 0
Genuine Parts Co COM 372460105 5,591 52,465 SH   SOLE   52,465 0 0
Gilead Sciences Inc COM 375558103 1,903 20,187 SH   SOLE   20,187 0 0
GlaxoSmithKline Plc-ADR COM 37733w105 1,912 44,742 SH   SOLE   44,742 0 0
Global Brands Group Holding COM g39338101 2 10,000 SH   SOLE   10,000 0 0
Global X SuperIncome Preferred COM 37950e333 173 11,904 SH   SOLE   11,904 0 0
Goldman Sachs Group Inc COM 38141G104 474 2,445 SH   SOLE   2,445 0 0
Google Inc-Cl A COM 38259P508 2,351 4,431 SH   SOLE   4,431 0 0
Google Inc-Cl C COM 38259p706 2,053 3,900 SH   SOLE   3,900 0 0
Grainger (W.W.) Inc COM 384802104 316 1,238 SH   SOLE   1,238 0 0
Guggenheim BRIC ETF COM 18383m100 287 10,035 SH   SOLE   10,035 0 0
Guggenheim Russell Top 50 ETF COM 78355w205 713 5,031 SH   SOLE   5,031 0 0
Guggenheim S&P Equal Weight COM 78355w106 648 8,094 SH   SOLE   8,094 0 0
HCP Inc COM 40414l109 5,718 129,869 SH   SOLE   129,869 0 0
HPEV Inc COM 404273104 9 17,800 SH   SOLE   17,800 0 0
Harman International COM 413086109 759 7,110 SH   SOLE   7,110 0 0
Hershey Co/The COM 427866108 222 2,134 SH   SOLE   2,134 0 0
Hess Corp COM 42809h107 532 7,200 SH   SOLE   7,200 0 0
Hewlett-Packard Co COM 428236103 2,766 68,933 SH   SOLE   68,933 0 0
Home Depot Inc COM 437076102 6,224 59,289 SH   SOLE   59,289 0 0
Honeywell International Inc COM 438516106 5,311 53,154 SH   SOLE   53,154 0 0
Hormel Foods Corp COM 440452100 241 4,620 SH   SOLE   4,620 0 0
Hubbell Inc -Cl B COM 443510201 214 2,000 SH   SOLE   2,000 0 0
Illinois Tool Works COM 452308109 398 4,199 SH   SOLE   4,199 0 0
Infinito Gold Ltd COM 45671c106 0 28,130 SH   SOLE   28,130 0 0
Ingersoll-Rand PLC COM g47791101 1,431 22,573 SH   SOLE   22,573 0 0
Integral Technologies Inc COM 45810j103 8 17,000 SH   SOLE   17,000 0 0
Integrys Energy Group Inc COM 45822p105 218 2,804 SH   SOLE   2,804 0 0
Intel Corp COM 458140100 14,251 392,691 SH   SOLE   392,691 0 0
InterContinental Hotels-ADR COM 45857p509 2,359 58,911 SH   SOLE   58,911 0 0
Intl Business Machines Corp COM 459200101 7,352 45,821 SH   SOLE   45,821 0 0
Intl Flavors & Fragrances COM 459506101 540 5,325 SH   SOLE   5,325 0 0
JPMorgan Chase & Co COM 46625H100 6,952 111,096 SH   SOLE   111,096 0 0
Jacobs Engineering Group Inc COM 469814107 311 6,969 SH   SOLE   6,969 0 0
Johnson & Johnson COM 478160104 21,290 203,593 SH   SOLE   203,593 0 0
Johnson Controls Inc COM 478366107 1,436 29,697 SH   SOLE   29,697 0 0
Keysight Technologies Inc COM 49338l103 306 9,049 SH   SOLE   9,049 0 0
Kimberly-Clark Corp COM 494368103 10,656 92,226 SH   SOLE   92,226 0 0
Kinder Morgan Inc COM 49456b101 1,659 39,210 SH   SOLE   39,210 0 0
Kohl's Corp COM 500255104 366 6,000 SH   SOLE   6,000 0 0
Kraft Foods Group COM 50076q106 2,190 34,944 SH   SOLE   34,944 0 0
L-3 Communications Holdings COM 502424104 362 2,871 SH   SOLE   2,871 0 0
Laboratory Corp Of Amer Hldgs COM 50540r409 1,562 14,480 SH   SOLE   14,480 0 0
Lam Research Corp COM 512807108 202 2,550 SH   SOLE   2,550 0 0
Li & Fung Ltd COM g5485f169 9 10,000 SH   SOLE   10,000 0 0
Linn Co LLC COM 535782106 159 15,300 SH   SOLE   15,300 0 0
Linn Energy LLC-Units COM 536020100 393 38,750 SH   SOLE   38,750 0 0
Lockheed Martin Corp COM 539830109 1,453 7,543 SH   SOLE   7,543 0 0
Lowe's Cos Inc COM 548661107 4,245 61,704 SH   SOLE   61,704 0 0
Lululemon Athletica Inc COM 550021109 431 7,734 SH   SOLE   7,734 0 0
Macy's Inc COM 55616p104 2,117 32,203 SH   SOLE   32,203 0 0
Magellan Midstream Partners COM 559080106 218 2,632 SH   SOLE   2,632 0 0
Mallinckrodt PLC COM g5785g107 406 4,097 SH   SOLE   4,097 0 0
Manulife Financial Corp COM 56501r106 398 20,855 SH   SOLE   20,855 0 0
Marathon Oil Corp COM 565849106 297 10,498 SH   SOLE   10,498 0 0
Marathon Petroleum Corp COM 56585a102 322 3,572 SH   SOLE   3,572 0 0
Market Vectors Agribusiness ET COM 57060u605 885 16,840 SH   SOLE   16,840 0 0
Market Vectors Pharmaceutical COM 57060u217 572 8,900 SH   SOLE   8,900 0 0
McCormick & Co-Non Vtg Shrs COM 579780206 1,558 20,967 SH   SOLE   20,967 0 0
McDonald's Corp COM 580135101 9,845 105,073 SH   SOLE   105,073 0 0
McGraw Hill Financial Inc COM 580645109 743 8,345 SH   SOLE   8,345 0 0
Medical Properties Trust Inc COM 58463j304 374 27,134 SH   SOLE   27,134 0 0
Medtronic Inc COM 585055106 5,393 74,697 SH   SOLE   74,697 0 0
Merck & Co. Inc. COM 58933y105 7,192 126,641 SH   SOLE   126,641 0 0
Microsoft Corp COM 594918104 8,307 178,838 SH   SOLE   178,838 0 0
Mondelez International COM 609207105 2,084 57,382 SH   SOLE   57,382 0 0
Morgan Stanley COM 617446448 1,700 43,820 SH   SOLE   43,820 0 0
Mylan Inc COM 628530107 2,031 36,036 SH   SOLE   36,036 0 0
NXP Semiconductors Nv COM n6596x109 316 4,140 SH   SOLE   4,140 0 0
Nabors Industries Ltd COM g6359f103 480 36,956 SH   SOLE   36,956 0 0
National Oilwell Varco Inc COM 637071101 261 3,977 SH   SOLE   3,977 0 0
Nestle Sa-Spons ADR For Reg COM 641069406 4,351 59,648 SH   SOLE   59,648 0 0
NextEra Energy Inc COM 65339f101 10,903 102,574 SH   SOLE   102,574 0 0
Nike Inc -Cl B COM 654106103 6,981 72,608 SH   SOLE   72,608 0 0
Nordstrom Inc COM 655664100 537 6,762 SH   SOLE   6,762 0 0
Norfolk Southern Corp COM 655844108 522 4,765 SH   SOLE   4,765 0 0
Northeast Utilities COM 664397106 329 6,155 SH   SOLE   6,155 0 0
Novartis Ag-ADR COM 66987v109 3,907 42,170 SH   SOLE   42,170 0 0
Occidental Petroleum Corp COM 674599105 5,845 72,504 SH   SOLE   72,504 0 0
Oracle Corp COM 68389x105 4,543 101,023 SH   SOLE   101,023 0 0
Owens Realty Mortgage Inc COM 690828108 785 53,575 SH   SOLE   53,575 0 0
P G & E Corp COM 69331c108 533 10,008 SH   SOLE   10,008 0 0
PPG Industries Inc COM 693506107 212 917 SH   SOLE   917 0 0
Paccar Inc COM 693718108 1,892 27,821 SH   SOLE   27,821 0 0
Palo Alto Networks COM 697435105 256 2,090 SH   SOLE   2,090 0 0
PepsiCo Inc COM 713448108 7,988 84,478 SH   SOLE   84,478 0 0
Pfizer Inc COM 717081103 7,825 251,195 SH   SOLE   251,195 0 0
Philip Morris International COM 718172109 2,121 26,041 SH   SOLE   26,041 0 0
Piedmont Mining Co Inc COM 720172105 0 10,000 SH   SOLE   10,000 0 0
Plains All American Pipeline L COM 726503105 309 6,022 SH   SOLE   6,022 0 0
Plum Creek Timber Co COM 729251108 228 5,339 SH   SOLE   5,339 0 0
Potash Corp Of Saskatchewan COM 73755l107 1,112 31,475 SH   SOLE   31,475 0 0
PowerShares Buyback Achievers COM 73935x286 240 5,001 SH   SOLE   5,001 0 0
PowerShares Preferred Portfoli COM 73936t565 5,563 378,408 SH   SOLE   378,408 0 0
PowerShares S&P Low Volatility COM 73937b779 206 5,430 SH   SOLE   5,430 0 0
Powershares QQQ NASDAQ 100 Tru COM 73935a104 2,122 20,552 SH   SOLE   20,552 0 0
Praxair Inc COM 74005p104 3,025 23,351 SH   SOLE   23,351 0 0
Preferred Apartment Communitie COM 74039l103 1,696 186,424 SH   SOLE   186,424 0 0
ProLogis Inc COM 74340w103 373 8,663 SH   SOLE   8,663 0 0
Procter & Gamble Co COM 742718109 21,110 231,745 SH   SOLE   231,745 0 0
Public Service Enterprise Grou COM 744573106 1,881 45,433 SH   SOLE   45,433 0 0
Qualcomm Inc COM 747525103 1,111 14,946 SH   SOLE   14,946 0 0
Quest Diagnostics COM 74834l100 421 6,275 SH   SOLE   6,275 0 0
Realty Income Corp COM 756109104 7,163 150,142 SH   SOLE   150,142 0 0
Regeneron Pharmaceuticals Inc COM 75886f107 584 1,424 SH   SOLE   1,424 0 0
Retail Properties of America COM 76131v202 656 39,293 SH   SOLE   39,293 0 0
Robert Half Intl Inc COM 770323103 309 5,300 SH   SOLE   5,300 0 0
Roche Holdings LTD-Spons ADR COM 771195104 1,879 55,290 SH   SOLE   55,290 0 0
Rock Tenn Company - Class A COM 772739207 245 4,010 SH   SOLE   4,010 0 0
Rockwood Holdings Inc COM 774415103 1,612 20,460 SH   SOLE   20,460 0 0
Roper Industries Inc COM 776696106 274 1,750 SH   SOLE   1,750 0 0
Royal Dutch Shell Plc-ADR A COM 780259206 356 5,324 SH   SOLE   5,324 0 0
SPDR Consumer Discretionary Se COM 81369y407 4,176 57,879 SH   SOLE   57,879 0 0
SPDR Dow Jones Industrial Aver COM 78467x109 866 4,871 SH   SOLE   4,871 0 0
SPDR Energy Select Sector COM 81369y506 3,634 45,903 SH   SOLE   45,903 0 0
SPDR Financial Select Sector COM 81369y605 3,488 141,048 SH   SOLE   141,048 0 0
SPDR Gold Trust COM 78463v107 922 8,120 SH   SOLE   8,120 0 0
SPDR Health Care Select Sector COM 81369y209 5,087 74,388 SH   SOLE   74,388 0 0
SPDR Industrial Select Sector COM 81369y704 3,987 70,461 SH   SOLE   70,461 0 0
SPDR Materials Select Sector COM 81369y100 1,220 25,105 SH   SOLE   25,105 0 0
SPDR S&P Biotech ETF COM 78464a870 660 3,538 SH   SOLE   3,538 0 0
SPDR S&P Dividend ETF COM 78464a763 10,428 132,341 SH   SOLE   132,341 0 0
SPDR S&P Emerging Markets Smal COM 78463x756 252 5,675 SH   SOLE   5,675 0 0
SPDR S&P Intl Dividend COM 78463x772 469 11,160 SH   SOLE   11,160 0 0
SPDR S&P MidCap 400 ETF Trust COM 78467y107 9,631 36,486 SH   SOLE   36,486 0 0
SPDR S&P500 Index Trust Series COM 78462f103 8,182 39,806 SH   SOLE   39,806 0 0
SPDR Technology Select Sector COM 81369y803 6,348 153,516 SH   SOLE   153,516 0 0
Salesforce.Com Inc COM 79466l302 664 11,197 SH   SOLE   11,197 0 0
Sanofi-ADR COM 80105n105 4,170 91,430 SH   SOLE   91,430 0 0
Scana Corp COM 80589m102 858 14,207 SH   SOLE   14,207 0 0
Scandium International Mining COM 80600l109 2 23,400 SH   SOLE   23,400 0 0
Schlumberger Ltd COM 806857108 2,553 29,889 SH   SOLE   29,889 0 0
Schwab (Charles) Corp COM 808513105 1,228 40,675 SH   SOLE   40,675 0 0
Schwab U.S. Broad Market ETF COM 808524102 1,456 29,229 SH   SOLE   29,229 0 0
Schwab U.S. Large-Cap ETF COM 808524201 2,177 44,386 SH   SOLE   44,386 0 0
Schwab U.S. Mid-Cap ETF COM 808524508 1,885 46,341 SH   SOLE   46,341 0 0
Schwab U.S. Small-Cap ETF COM 808524607 1,048 19,022 SH   SOLE   19,022 0 0
Schwab US Dividend Equity ETF COM 808524797 1,006 25,237 SH   SOLE   25,237 0 0
Sempra Energy COM 816851109 2,191 19,672 SH   SOLE   19,672 0 0
Siemens Ag-Spons ADR COM 826197501 245 2,185 SH   SOLE   2,185 0 0
Sierra Vista Bank COM 82651b105 90 20,000 SH   SOLE   20,000 0 0
Silvercorp Metals Inc COM 82835p103 13 10,000 SH   SOLE   10,000 0 0
Simon Property Group Inc COM 828806109 210 1,155 SH   SOLE   1,155 0 0
Sirius XM Holdings Inc COM 82968b103 530 151,484 SH   SOLE   151,484 0 0
Southern Co COM 842587107 2,881 58,674 SH   SOLE   58,674 0 0
Southern Copper Corp COM 84265v105 326 11,569 SH   SOLE   11,569 0 0
Southwestern Energy Co COM 845467109 432 15,831 SH   SOLE   15,831 0 0
Spectra Energy Corp COM 847560109 4,709 129,713 SH   SOLE   129,713 0 0
Spectral Medical Inc COM 847577103 7 25,000 SH   SOLE   25,000 0 0
St Jude Medical Inc COM 790849103 823 12,651 SH   SOLE   12,651 0 0
Stanley Black & Decker Inc COM 854502101 4,303 44,784 SH   SOLE   44,784 0 0
Starbucks Corp COM 855244109 2,775 33,817 SH   SOLE   33,817 0 0
State Street Corp COM 857477103 323 4,120 SH   SOLE   4,120 0 0
Stryker Corp COM 863667101 362 3,835 SH   SOLE   3,835 0 0
Suncor Energy Inc COM 867224107 264 8,300 SH   SOLE   8,300 0 0
Sysco Corp COM 871829107 223 5,608 SH   SOLE   5,608 0 0
T Rowe Price Group Inc COM 74144t108 215 2,505 SH   SOLE   2,505 0 0
TD Ameritrade Holding Corp COM 87236y108 1,685 47,103 SH   SOLE   47,103 0 0
TJX Companies Inc COM 872540109 440 6,413 SH   SOLE   6,413 0 0
Target Corp COM 87612e106 7,182 94,609 SH   SOLE   94,609 0 0
Tesla Motors Inc COM 88160r101 331 1,488 SH   SOLE   1,488 0 0
Teva Pharmaceutical-Sp ADR COM 881624209 440 7,656 SH   SOLE   7,656 0 0
Texas Instruments Inc COM 882508104 294 5,500 SH   SOLE   5,500 0 0
Thermo Fisher Scientific Inc COM 883556102 251 2,001 SH   SOLE   2,001 0 0
Time Warner Cable Inc COM 88732j207 323 2,123 SH   SOLE   2,123 0 0
Time Warner Inc COM 887317303 786 9,204 SH   SOLE   9,204 0 0
Toronto-Dominion Bank COM 891160509 4,354 91,127 SH   SOLE   91,127 0 0
Toyota Motor Corp -Spon ADR COM 892331307 2,417 19,260 SH   SOLE   19,260 0 0
Travelers Cos Inc/The COM 89417e109 3,496 33,027 SH   SOLE   33,027 0 0
Tri-Valley Corporation COM 895735108 0 30,600 SH   SOLE   30,600 0 0
Turquoise Hill Resources Ltd COM 900435108 93 30,000 SH   SOLE   30,000 0 0
Twenty-First Century Fox-B (fo COM 90130a200 2,686 72,817 SH   SOLE   72,817 0 0
UDR Inc COM 902653104 218 7,080 SH   SOLE   7,080 0 0
US Bancorp COM 902973304 2,132 47,423 SH   SOLE   47,423 0 0
Unilever N V -NY Shares COM 904784709 2,886 73,932 SH   SOLE   73,932 0 0
Unilever Plc-Sponsored ADR COM 904767704 1,769 43,699 SH   SOLE   43,699 0 0
Union Pacific Corp COM 907818108 1,700 14,271 SH   SOLE   14,271 0 0
United Parcel Service-Cl B COM 911312106 8,747 78,681 SH   SOLE   78,681 0 0
United Technologies Corp COM 913017109 3,278 28,505 SH   SOLE   28,505 0 0
UnitedHealth Group Inc COM 91324P102 960 9,492 SH   SOLE   9,492 0 0
Utilities Select Sector SPDR COM 81369y886 1,242 26,304 SH   SOLE   26,304 0 0
VF Corp COM 918204108 209 2,792 SH   SOLE   2,792 0 0
Vanguard Consumer Discretionar COM 92204a108 384 3,289 SH   SOLE   3,289 0 0
Vanguard Consumer Staples Vipe COM 92204a207 296 2,360 SH   SOLE   2,360 0 0
Vanguard Dividend Appreciation COM 921908844 583 7,186 SH   SOLE   7,186 0 0
Vanguard European Vipers COM 922042874 728 13,895 SH   SOLE   13,895 0 0
Vanguard FTSE Developed Market COM 921943858 1,745 46,065 SH   SOLE   46,065 0 0
Vanguard FTSE Emerging Markets COM 922042858 1,666 41,640 SH   SOLE   41,640 0 0
Vanguard Health Care Vipers COM 92204a504 324 2,580 SH   SOLE   2,580 0 0
Vanguard High Div Yield ETF COM 921946406 1,839 26,744 SH   SOLE   26,744 0 0
Vanguard Info Tech Vipers COM 92204a702 467 4,468 SH   SOLE   4,468 0 0
Vanguard Large-Cap Vipers ETF COM 922908637 1,057 11,201 SH   SOLE   11,201 0 0
Vanguard Mid-Cap COM 922908629 3,684 29,816 SH   SOLE   29,816 0 0
Vanguard REIT COM 922908553 1,113 13,735 SH   SOLE   13,735 0 0
Vanguard Small-Cap Vipers COM 922908751 4,646 39,821 SH   SOLE   39,821 0 0
Vanguard Total Stock Market COM 922908769 12,729 120,084 SH   SOLE   120,084 0 0
Varian Medical Systems Inc COM 92220P105 1,077 12,447 SH   SOLE   12,447 0 0
Verizon Communications Inc COM 92343v104 22,970 491,027 SH   SOLE   491,027 0 0
Visa Inc-Class A Shares COM 92826c839 602 2,296 SH   SOLE   2,296 0 0
Vornado Realty Trust COM 929042109 5,684 48,286 SH   SOLE   48,286 0 0
Voyant International Corp COM 92909w108 0 53,652 SH   SOLE   53,652 0 0
Wal-Mart Stores Inc COM 931142103 1,289 15,013 SH   SOLE   15,013 0 0
Walgreens Boots Alliance Inc COM 931427108 9,498 124,648 SH   SOLE   124,648 0 0
Waste Management Inc COM 94106l109 7,413 144,453 SH   SOLE   144,453 0 0
Wells Fargo & Company COM 949746101 30,572 557,678 SH   SOLE   557,678 0 0
Westamerica Bancorportaion COM 957090103 615 12,551 SH   SOLE   12,551 0 0
Weyerhaeuser Co COM 962166104 1,039 28,940 SH   SOLE   28,940 0 0
Whirlpool Corp COM 963320106 2,959 15,272 SH   SOLE   15,272 0 0
White Mountains Insurance Grou COM g9618e107 670 1,063 SH   SOLE   1,063 0 0
Whole Foods Market Inc COM 966837106 6,615 131,204 SH   SOLE   131,204 0 0
Williams Cos Inc COM 969457100 8,334 185,439 SH   SOLE   185,439 0 0
Wisconsin Energy Corp COM 976657106 4,520 85,696 SH   SOLE   85,696 0 0
Xcel Energy Inc COM 98389b100 442 12,299 SH   SOLE   12,299 0 0
Xylem Inc COM 98419m100 289 7,582 SH   SOLE   7,582 0 0
Yahoo! Inc COM 984332106 1,419 28,100 SH   SOLE   28,100 0 0
Yum! Brands Inc COM 988498101 353 4,840 SH   SOLE   4,840 0 0
Zebra Technologies Corp-Cl A COM 989207105 201 2,600 SH   SOLE   2,600 0 0
Zimmer Holdings Inc COM 98956p102 1,548 13,648 SH   SOLE   13,648 0 0
Zogenix Inc COM 98978l105 14 10,000 SH   SOLE   10,000 0 0
iShares DJ EPAC Sel Div Inc In COM 464288448 2,325 69,013 SH   SOLE   69,013 0 0
iShares DJ Select Dividend Ind COM 464287168 6,597 83,081 SH   SOLE   83,081 0 0
iShares DJ US Consumer Noncycl COM 464287812 223 2,125 SH   SOLE   2,125 0 0
iShares DJ US Financial Sect COM 464287788 1,261 13,984 SH   SOLE   13,984 0 0
iShares DJ US Health Car Pro COM 464288828 243 2,052 SH   SOLE   2,052 0 0
iShares DJ US Healthcare Sec COM 464287762 264 1,829 SH   SOLE   1,829 0 0
iShares DJ US Telecommunicatio COM 464287713 674 23,031 SH   SOLE   23,031 0 0
iShares DJ US Transport Index COM 464287192 1,021 6,220 SH   SOLE   6,220 0 0
iShares FTSE/Xinhua China 25 COM 464287184 1,012 24,305 SH   SOLE   24,305 0 0
iShares GS Natural Resources I COM 464287374 700 18,268 SH   SOLE   18,268 0 0
iShares Gold Trust COM 464285105 735 64,285 SH   SOLE   64,285 0 0
iShares Goldman Sachs Tech I COM 464287721 252 2,410 SH   SOLE   2,410 0 0
iShares MCSI EAFE Growth Index COM 464288885 257 3,900 SH   SOLE   3,900 0 0
iShares MSCI Australia Index COM 464286103 585 26,400 SH   SOLE   26,400 0 0
iShares MSCI Canada Index COM 464286509 746 25,845 SH   SOLE   25,845 0 0
iShares MSCI EAFE Index COM 464287465 1,380 22,688 SH   SOLE   22,688 0 0
iShares MSCI EAFE Value Index COM 464288877 257 5,040 SH   SOLE   5,040 0 0
iShares MSCI EMU Index-Europea COM 464286608 363 10,000 SH   SOLE   10,000 0 0
iShares MSCI Emerging Markets COM 464287234 1,199 30,508 SH   SOLE   30,508 0 0
iShares MSCI Hong Kong Index - COM 464286871 721 35,080 SH   SOLE   35,080 0 0
iShares MSCI Mexico Index COM 464286822 323 5,445 SH   SOLE   5,445 0 0
iShares MSCI Singapore Index COM 464286673 321 24,550 SH   SOLE   24,550 0 0
iShares MSCI South Korea Index COM 464286772 288 5,215 SH   SOLE   5,215 0 0
iShares MSCI USA Quality Facto COM 46432f339 716 11,498 SH   SOLE   11,498 0 0
iShares Microcap ETF COM 464288869 598 7,769 SH   SOLE   7,769 0 0
iShares Nasdaq Biotech Index F COM 464287556 3,139 10,346 SH   SOLE   10,346 0 0
iShares Russell 1000 Growth COM 464287614 721 7,537 SH   SOLE   7,537 0 0
iShares Russell 1000 Value COM 464287598 314 3,005 SH   SOLE   3,005 0 0
iShares Russell 2000 Index Fun COM 464287655 1,207 10,093 SH   SOLE   10,093 0 0
iShares Russell Midcap Index COM 464287499 350 2,097 SH   SOLE   2,097 0 0
iShares Russell Midcap Value I COM 464287473 332 4,500 SH   SOLE   4,500 0 0
iShares S&P 100 Index Fund COM 464287101 1,758 19,336 SH   SOLE   19,336 0 0
iShares S&P 500 Index Fund COM 464287200 596 2,883 SH   SOLE   2,883 0 0
iShares S&P Europe 350 COM 464287861 2,602 61,186 SH   SOLE   61,186 0 0
iShares S&P Global 100 COM 464287572 694 9,101 SH   SOLE   9,101 0 0
iShares S&P Midcap 400 COM 464287507 1,404 9,695 SH   SOLE   9,695 0 0
iShares S&P Midcap 400/Value COM 464287705 418 3,270 SH   SOLE   3,270 0 0
iShares S&P SmallCap 600 COM 464287804 587 5,143 SH   SOLE   5,143 0 0
iShares S&P US Preferred Stock COM 464288687 9,269 235,021 SH   SOLE   235,021 0 0
AEGON 8.00% 2042 Notes Call 08 PFD 007924608 3,963 140,929 SH   SOLE   140,929 0 0
AON Cap 8.205% 1/27 Non-Call B PFD 22532r101 1,857 57,979 SH   SOLE   57,979 0 0
Allied Capital ARCC6.875% 4/20 PFD 01903q207 428 17,109 SH   SOLE   17,109 0 0
American Capital Agency 8.0% P PFD 02503x204 1,108 41,520 SH   SOLE   41,520 0 0
American Capital Agncy 7.75% P PFD 02503x303 476 19,090 SH   SOLE   19,090 0 0
Amtrust Financial 7.25% CUM QD PFD 032359507 252 10,374 SH   SOLE   10,374 0 0
Amtrust Financial 7.625%CUM QD PFD 032359705 1,796 71,618 SH   SOLE   71,618 0 0
Annaly Capital 7.625% Perp Cl PFD 035710706 236 9,479 SH   SOLE   9,479 0 0
Arch Capital 6.75% BBB QDI Cl PFD g0450a204 713 26,424 SH   SOLE   26,424 0 0
Ares Capital 7.75% 2040 Call 1 PFD 04010l202 3,295 127,654 SH   SOLE   127,654 0 0
Argo Group 6.5% Sr Notes Call PFD 040130205 270 10,950 SH   SOLE   10,950 0 0
Ashford Hospitality 9.0% NR Ca PFD 044103505 1,133 42,785 SH   SOLE   42,785 0 0
Aspen Insurance 7.25% Call07/2 PFD g05384147 6,125 233,953 SH   SOLE   233,953 0 0
Aspen Insurance 7.401% Call 07 PFD g05384139 603 23,038 SH   SOLE   23,038 0 0
Atlas Pipeline 8.25% Called 2/ PFD 049392301 1,105 43,575 SH   SOLE   43,575 0 0
Aviva 8.25% 12/2041 Call 12/20 PFD 05382a203 9,700 348,038 SH   SOLE   348,038 0 0
Axis Capital 6.875% Cl 4/17 QD PFD g0692u307 522 19,550 SH   SOLE   19,550 0 0
BAC Flt LIB+35 BB NCU QDI Cl 1 PFD 060505815 235 11,468 SH   SOLE   11,468 0 0
BB&T Capital 5.625% Call 8/201 PFD 054937404 212 8,766 SH   SOLE   8,766 0 0
BGC Partners 8.125% 2042 Call PFD 05541t408 4,702 171,918 SH   SOLE   171,918 0 0
Banc of California 8.00% Perp PFD 05990k403 941 35,630 SH   SOLE   35,630 0 0
Banco Santander 6.80% QDI Clbl PFD 80281r706 273 10,769 SH   SOLE   10,769 0 0
Bank of America 6.625% Prp/Cl PFD 060505344 481 18,800 SH   SOLE   18,800 0 0
Bank of America 6.625%Prp Cl 1 PFD 060505740 642 24,482 SH   SOLE   24,482 0 0
Barclays 7.75% Prp Cl 9/13 BB PFD 06739h511 694 26,771 SH   SOLE   26,771 0 0
Barclays 8.125% Perp/Cl 3/14 B PFD 06739h362 1,340 51,395 SH   SOLE   51,395 0 0
Barclays Bank 7.1% Prp Call 12 PFD 06739h776 1,048 40,591 SH   SOLE   40,591 0 0
Breitburn Energy Partners 8.25 PFD 106776115 236 10,992 SH   SOLE   10,992 0 0
Campus Crest Comm 8.00% Perp C PFD 13466y204 1,475 57,743 SH   SOLE   57,743 0 0
Capital One Finl 6.7%Prp Call PFD 14040h709 376 14,500 SH   SOLE   14,500 0 0
CenturyLink Quest 6.125%Nts Cl PFD 74913g600 253 10,500 SH   SOLE   10,500 0 0
CenturyLink Quest 7.0%SnNts Cl PFD 74913g501 2,614 100,748 SH   SOLE   100,748 0 0
CenturyLink Quest7.375% 6/51 C PFD 74913g204 1,224 45,672 SH   SOLE   45,672 0 0
CenturyLink SnNote7.5% 2051 Cl PFD 74913g303 6,156 228,687 SH   SOLE   228,687 0 0
CenturyLink SnNotes 6.875% CL PFD 74913g105 742 28,950 SH   SOLE   28,950 0 0
CenturyLink SnNotes 7.0% 2052 PFD 74913G402 1,397 53,540 SH   SOLE   53,540 0 0
Chesapeake Lodging 7.75% PerpC PFD 165240201 2,869 109,078 SH   SOLE   109,078 0 0
Citigroup 5.8% B1 Call 4/18 QD PFD 172967366 264 10,800 SH   SOLE   10,800 0 0
Citigroup 7.125% Flt Aftr 9/23 PFD 172967358 4,525 166,845 SH   SOLE   166,845 0 0
Citigroup Tst 7.875% Cl2015 Li PFD 173080201 340 12,810 SH   SOLE   12,810 0 0
Colony Financial8.50% Perp CUM PFD 19624r205 235 8,938 SH   SOLE   8,938 0 0
Corporate Office Prop 7.375% C PFD 22002t884 1,991 76,356 SH   SOLE   76,356 0 0
Costamare 7.625% CUM QDI Perp PFD y1771g110 381 15,641 SH   SOLE   15,641 0 0
Costamare 8.50% CUM QDI Perp C PFD y1771g128 2,946 114,794 SH   SOLE   114,794 0 0
Cowen 8.25% Senior Notes Due 1 PFD 223622309 1,242 47,870 SH   SOLE   47,870 0 0
CubeSmart 7.75%CUM Call 11/2/2 PFD 229663208 651 24,119 SH   SOLE   24,119 0 0
DTE Energy 6.5% Jr Sub Call 12 PFD 233331602 1,575 60,410 SH   SOLE   60,410 0 0
Deutsche Bank 8.05% PrpCl6/18 PFD 25150l108 3,165 112,259 SH   SOLE   112,259 0 0
Deutsche Bk Tst6.55%Perp Cl 5/ PFD 25153x208 607 23,148 SH   SOLE   23,148 0 0
Deutsche Bnk 6.625% QDI BB Cal PFD 25153y206 292 11,411 SH   SOLE   11,411 0 0
Deutsche Bnk 7.6% Prp Cl 2/18 PFD 25154a108 1,602 57,821 SH   SOLE   57,821 0 0
Digital Realty 6.625% Perp CUM PFD 253868806 500 19,603 SH   SOLE   19,603 0 0
Digital Realty 7.0% Perp Call PFD 253868707 3,653 143,263 SH   SOLE   143,263 0 0
Digital Realty 7.375% Perp CUM PFD 253868871 230 8,626 SH   SOLE   8,626 0 0
Discover Financial 6.50%Perp Q PFD 254709207 1,802 71,129 SH   SOLE   71,129 0 0
Endurance Specialty 7.5% Cl 6/ PFD g30397304 2,592 98,845 SH   SOLE   98,845 0 0
Endurance Specialty 7.75% Cl12 PFD 29267h208 3,756 142,799 SH   SOLE   142,799 0 0
Equity Comwlth 7.25% CUM Perp/ PFD 294628409 548 21,486 SH   SOLE   21,486 0 0
Excel Trust 8.125% CUM Call 1/ PFD 30068c307 1,567 58,586 SH   SOLE   58,586 0 0
First Republic 7.0% Cl 12/18 B PFD 33616c860 1,839 66,877 SH   SOLE   66,877 0 0
First Republic Bank 6.2% Cl 6/ PFD 33616c407 654 25,735 SH   SOLE   25,735 0 0
First Republic Bank 6.70% Cl20 PFD 33616c209 1,716 65,257 SH   SOLE   65,257 0 0
Five Oaks Investment 8.75%Perp PFD 33830w205 340 13,410 SH   SOLE   13,410 0 0
Gastar Exploration 10.75%Perp PFD 36729p306 296 13,728 SH   SOLE   13,728 0 0
General Growth Prop 6.375% Cl PFD 370023202 378 15,100 SH   SOLE   15,100 0 0
GoldmanSachs Lib+75 Min3.75% C PFD 38143y665 615 32,445 SH   SOLE   32,445 0 0
HSBC 6.36% Perp Callable NCU Q PFD 40429c607 787 31,048 SH   SOLE   31,048 0 0
HSBC Float 4.5%FL Clbl CUM QDI PFD 40428h706 604 23,900 SH   SOLE   23,900 0 0
HSBC Hldgs 8.0% Prp Cl 12/15 B PFD 404280802 5,218 196,397 SH   SOLE   196,397 0 0
Hanover Insurance 6.35% Cl 3/1 PFD 410867204 295 11,800 SH   SOLE   11,800 0 0
Hartford Finl 7.875% 2042 call PFD 416518504 1,505 50,250 SH   SOLE   50,250 0 0
Hudson Pacific 8.375% Perp N/R PFD 444097208 1,085 41,347 SH   SOLE   41,347 0 0
ING Groep NV 7 3/8% Cl 10/12 B PFD 456837707 1,743 67,859 SH   SOLE   67,859 0 0
ING Grp NV 7.20%Pfd Perp/Cl l2 PFD 456837301 300 11,646 SH   SOLE   11,646 0 0
Investors REIT 7.95% Perp CUM PFD 461730301 991 38,376 SH   SOLE   38,376 0 0
JMP Group 8.00% SrDeb Due1/202 PFD 46629u206 209 8,157 SH   SOLE   8,157 0 0
JPMorgan Chase 6.70%Perp/Call PFD 48127a161 1,295 49,031 SH   SOLE   49,031 0 0
KKR Financial 7.375% Prp Call PFD 48248a603 433 16,254 SH   SOLE   16,254 0 0
KKR Financial 7.50% SrNts Call PFD 48248a504 5,251 191,937 SH   SOLE   191,937 0 0
KKR Financial 8.375%SrNts Call PFD 48248a405 1,638 59,020 SH   SOLE   59,020 0 0
Kimco Realty 6.90% Perp Call8/ PFD 49446r828 314 12,226 SH   SOLE   12,226 0 0
LaSalle Hotel 6.375% Call 3/20 PFD 517942801 205 8,100 SH   SOLE   8,100 0 0
LaSalle Hotel 7.50% Perp CUM C PFD 517942702 2,069 78,753 SH   SOLE   78,753 0 0
M&T Bank 6.375% Cl 11/18 BBB- PFD 55261f708 568 569 SH   SOLE   569 0 0
Magnum Hunter 8.00%Perp Ccum C PFD 55973b300 484 14,257 SH   SOLE   14,257 0 0
Maiden Hldgs 8.00% Nts 2042 ca PFD 56029q309 2,344 88,184 SH   SOLE   88,184 0 0
Maiden Hldgs 8.25% Nts 2041 ca PFD 56029q200 861 32,659 SH   SOLE   32,659 0 0
Maiden Holdings 8.25%Prp Cl8/2 PFD g5753u120 1,570 60,611 SH   SOLE   60,611 0 0
MetLife 3MoLibor+100 Min 4.0% PFD 59156r504 239 10,431 SH   SOLE   10,431 0 0
Montpelier RE 8.875% Perp QDI PFD g62185114 926 34,454 SH   SOLE   34,454 0 0
Morgan Stanley 3MoLib+70bp 4%F PFD 61747s504 485 24,313 SH   SOLE   24,313 0 0
Morgan Stanley 7.125%Flt Aftr1 PFD 61762v200 1,981 71,902 SH   SOLE   71,902 0 0
National General Ins 7.50% Cal PFD 636220709 2,517 99,399 SH   SOLE   99,399 0 0
Navios Maritime 8.625% Perp CU PFD 63938y308 463 25,077 SH   SOLE   25,077 0 0
News Corp 7.00% 12/1/2095 call PFD 863117206 281 11,003 SH   SOLE   11,003 0 0
NorthStar Realty Fin 8.50% CUM PFD 66705V209 258 10,300 SH   SOLE   10,300 0 0
NuStar Logistics 7.625%Nts Cl PFD 67059t204 770 29,855 SH   SOLE   29,855 0 0
Oxford Lane Cap8.125% Cl6/2017 PFD 691543409 883 35,740 SH   SOLE   35,740 0 0
PS Business Parks 6.0% Cl 5/20 PFD 69360j685 315 12,751 SH   SOLE   12,751 0 0
Partner Re 7.25% Call 06/16 BB PFD g68603508 5,908 221,769 SH   SOLE   221,769 0 0
Pebblebrook Hotel 8.00%Perp Cu PFD 70509v308 2,713 102,996 SH   SOLE   102,996 0 0
Pebblebrook Hotel7.875%Perp Cu PFD 70509v209 830 31,759 SH   SOLE   31,759 0 0
Penn RealEstate 7.375%CUM Perp PFD 709102503 640 24,731 SH   SOLE   24,731 0 0
Pitney Bowes 6.7% Cl 3/7/18 PFD 724479506 376 14,100 SH   SOLE   14,100 0 0
Principal Fin 145Bp+30y QDI ($ PFD 74251v201 2,173 21,730 SH   SOLE   21,730 0 0
Prospect Captl 6.95% Sr Nts 20 PFD 74348t201 944 37,250 SH   SOLE   37,250 0 0
Prudential PLC 6.75% PrpCl 9/0 PFD g7293h114 752 29,478 SH   SOLE   29,478 0 0
Public Storage 5.90% Perp CUM PFD 74460w206 317 12,550 SH   SOLE   12,550 0 0
Public Storage 6.35% Call 7/16 PFD 74460d125 845 32,505 SH   SOLE   32,505 0 0
Public Storage 6.5% Perp Call PFD 74460d158 389 15,150 SH   SOLE   15,150 0 0
Public Storage 6.50% Call 4/20 PFD 74460d141 1,741 66,004 SH   SOLE   66,004 0 0
Public Storage 6.875% Prp Cl7/ PFD 74460d182 1,010 38,867 SH   SOLE   38,867 0 0
Raymond James Financial 6.90% PFD 754730208 882 32,335 SH   SOLE   32,335 0 0
Realty Income 6.625% Call 2/17 PFD 756109807 302 11,500 SH   SOLE   11,500 0 0
Regency Centers 6.00% Perp CUM PFD 758849806 442 17,900 SH   SOLE   17,900 0 0
Regions Financial 6.375% Cl 12 PFD 7591ep308 418 16,700 SH   SOLE   16,700 0 0
Reinsurance Group of Amer 6.2% PFD 759351703 403 14,500 SH   SOLE   14,500 0 0
Retail Properties of Amer 7.0% PFD 76131v608 495 18,900 SH   SOLE   18,900 0 0
SL Green Realty 6.5% Perp CUM PFD 78440x507 2,256 88,048 SH   SOLE   88,048 0 0
Safe Bulkers 8.00% Cumulative PFD y7388l129 526 30,400 SH   SOLE   30,400 0 0
Scana Corp 7.70% BBB-CUM Calle PFD 80589m201 1,681 65,948 SH   SOLE   65,948 0 0
Seaspan 8.25% Perp CUM QDI Cal PFD y75638133 1,124 44,227 SH   SOLE   44,227 0 0
So Cal Ed Flt $100 Callable NC PFD 842400756 2,563 25,512 SH   SOLE   25,512 0 0
Solar Capital 6.75% Cl 11/17 PFD 83413u308 290 12,500 SH   SOLE   12,500 0 0
Southern Cal Ed 6.5% $100 Cl3/ PFD 842400723 680 6,590 SH   SOLE   6,590 0 0
Strategic Hotels&Res 8.25% Cal PFD 86272t403 533 21,327 SH   SOLE   21,327 0 0
Summit Hotel 7.875% Perp CUM C PFD 866082308 1,900 72,320 SH   SOLE   72,320 0 0
Sunstone Hotel 8.00% Perp CUM PFD 867592507 1,128 42,996 SH   SOLE   42,996 0 0
Taubman Centers 6.5% CUM NA Cl PFD 876664608 248 9,751 SH   SOLE   9,751 0 0
Teekay Offshore 7.25%Perp CUM PFD y8565j127 775 33,536 SH   SOLE   33,536 0 0
Telephone & Data 6.875% Cl 11/ PFD 879433845 3,425 137,700 SH   SOLE   137,700 0 0
Telephone & Data 7.0% Cl 3/16 PFD 879433837 854 34,621 SH   SOLE   34,621 0 0
TravelCenters America 8.00%SrN PFD 894174309 1,161 46,350 SH   SOLE   46,350 0 0
US Bancorp 6.5% Flt Aftr 1/22 PFD 902973833 1,627 55,230 SH   SOLE   55,230 0 0
US Cellular 6.95%SrNT 2060 Cl PFD 911684405 462 18,935 SH   SOLE   18,935 0 0
Vanguard Natrl Resources 7.625 PFD 92205f304 247 12,702 SH   SOLE   12,702 0 0
Vornado Realty 5.7% Prp Cl 7/1 PFD 929042851 283 11,766 SH   SOLE   11,766 0 0
Vornado Realty 6.875% Prp/Cl 4 PFD 929042869 3,218 121,675 SH   SOLE   121,675 0 0
Wells Fargo 6.375% Cl 12/19 QD PFD 94988n207 383 15,100 SH   SOLE   15,100 0 0
Wells Fargo 7.5% Cnv/Prp$1000 PFD 949746804 5,415 4,458 SH   SOLE   4,458 0 0
Wells Fargo 8.00% Prp Cl12/17 PFD 949746879 13,102 449,163 SH   SOLE   449,163 0 0
Charles Schwab 7% Perp/Call 2/ PFD 808513AE5 2,331 2,012,000 PRN   SOLE   2,012,000 0 0
Citigroup Inc 5.95% Perp Call PFD 172967GD7 289 295,000 PRN   SOLE   295,000 0 0
GE Cap Corp 6.25% Perp/Call 12 PFD 369622SP1 384 350,000 PRN   SOLE   350,000 0 0
GE Cap Corp 7.125% Perp/Call 6 PFD 369622SN6 2,308 1,990,000 PRN   SOLE   1,990,000 0 0
JPMorgan 7.9% Perp/Call 4/18 - PFD 46625HHA1 2,518 2,340,000 PRN   SOLE   2,340,000 0 0
So. Cal Edison 6.25% Perp/Call PFD 842400FU2 1,112 1,000,000 PRN   SOLE   1,000,000 0 0
Wachovia (WFC) Perp/Call 2/11 PFD 92978AAA0 5,368 5,570,000 PRN   SOLE   5,570,000 0 0
Wells Fargo & Company Perp/Cal PFD 949746PM7 596 540,000 PRN   SOLE   540,000 0 0