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 615 300 SH   SOLE   300 0 0
3M Company COM 88579y101 12,333 79,931 SH   SOLE   79,931 0 0
ABB Ltd-Spon ADR COM 000375204 3,840 183,927 SH   SOLE   183,927 0 0
ACE Ltd COM h0023r105 266 2,620 SH   SOLE   2,620 0 0
AGL Resources Inc COM 001204106 3,167 68,025 SH   SOLE   68,025 0 0
AT&T Inc COM 00206r102 8,300 233,682 SH   SOLE   233,682 0 0
AbbVie Inc COM 00287y109 9,615 143,105 SH   SOLE   143,105 0 0
Abbott Laboratories COM 002824100 10,151 206,819 SH   SOLE   206,819 0 0
Accenture PLC-Cl A COM g1151c101 4,130 42,675 SH   SOLE   42,675 0 0
Adobe Systems Inc COM 00724f101 545 6,731 SH   SOLE   6,731 0 0
Aetna Inc COM 00817Y108 887 6,961 SH   SOLE   6,961 0 0
Aflac Inc COM 001055102 334 5,366 SH   SOLE   5,366 0 0
Agilent Technologies Inc COM 00846u101 732 18,965 SH   SOLE   18,965 0 0
Air Products & Chemicals Inc COM 009158106 4,853 35,471 SH   SOLE   35,471 0 0
Alder Biopharaceuticals COM 014339105 300 5,658 SH   SOLE   5,658 0 0
Alerian MLP ETF COM 00162q866 333 21,420 SH   SOLE   21,420 0 0
Allegion PLC COM g0176j109 224 3,726 SH   SOLE   3,726 0 0
Allergan plc (new) COM g0177j108 897 2,955 SH   SOLE   2,955 0 0
Alliance Data Systems Corp COM 018581108 323 1,105 SH   SOLE   1,105 0 0
Allstate Corp COM 020002101 358 5,512 SH   SOLE   5,512 0 0
Altria Group Inc COM 02209s103 7,296 149,177 SH   SOLE   149,177 0 0
Amarillo Gold Corp COM 02301t108 87 1,400,000 SH   SOLE   1,400,000 0 0
Amazon.com Inc COM 023135106 286 659 SH   SOLE   659 0 0
American Electric Power COM 025537101 474 8,955 SH   SOLE   8,955 0 0
American Express Co COM 025816109 2,744 35,303 SH   SOLE   35,303 0 0
American International Group COM 026874784 316 5,113 SH   SOLE   5,113 0 0
AmerisourceBergen Corp COM 03073e105 543 5,108 SH   SOLE   5,108 0 0
Amgen Inc COM 031162100 2,183 14,221 SH   SOLE   14,221 0 0
Anthem Inc COM 036752103 3,353 20,430 SH   SOLE   20,430 0 0
Apple Inc COM 037833100 28,749 229,211 SH   SOLE   229,211 0 0
Archer-Daniels-Midland Co COM 039483102 739 15,333 SH   SOLE   15,333 0 0
Automatic Data Processing COM 053015103 11,475 143,025 SH   SOLE   143,025 0 0
Avago Technologies Ltd COM y0486s104 305 2,291 SH   SOLE   2,291 0 0
BCE Inc COM 05534b760 2,634 61,971 SH   SOLE   61,971 0 0
Bank Of Marin Bancorp/CA COM 063425102 723 14,207 SH   SOLE   14,207 0 0
Bank of America Corp COM 060505104 6,307 370,564 SH   SOLE   370,564 0 0
Bank of Montreal COM 063671101 330 5,565 SH   SOLE   5,565 0 0
Baxter International Inc. COM 071813109 648 9,269 SH   SOLE   9,269 0 0
Becton Dickinson & Co COM 075887109 1,362 9,613 SH   SOLE   9,613 0 0
Berkshire Hathaway Inc-Cl B COM 084670702 2,930 21,528 SH   SOLE   21,528 0 0
Biogen Idec Inc COM 09062x103 1,710 4,233 SH   SOLE   4,233 0 0
Blackrock Inc COM 09247x101 226 654 SH   SOLE   654 0 0
Blackstone Group/The COM 09253u108 844 20,647 SH   SOLE   20,647 0 0
Boeing Co COM 097023105 2,898 20,894 SH   SOLE   20,894 0 0
Bristol-Myers Squibb Co COM 110122108 17,958 269,882 SH   SOLE   269,882 0 0
Brown-Forman Corp -Cl B COM 115637209 210 2,097 SH   SOLE   2,097 0 0
CBS Corp-Class B COM 124857202 361 6,499 SH   SOLE   6,499 0 0
CVS Health Corp COM 126650100 4,903 46,745 SH   SOLE   46,745 0 0
CarMax Inc COM 143130102 245 3,703 SH   SOLE   3,703 0 0
Carlyle Group/The COM 14309l102 2,086 74,089 SH   SOLE   74,089 0 0
Caterpillar Inc COM 149123101 2,610 30,773 SH   SOLE   30,773 0 0
Celgene Corp COM 151020104 817 7,057 SH   SOLE   7,057 0 0
CenterPoint Energy Inc COM 15189t107 1,766 92,779 SH   SOLE   92,779 0 0
Cerner Corp COM 156782104 2,796 40,486 SH   SOLE   40,486 0 0
Cerus Corp COM 157085101 52 10,000 SH   SOLE   10,000 0 0
Check Point Software Tech COM m22465104 687 8,639 SH   SOLE   8,639 0 0
Chevron Corp COM 166764100 24,389 252,812 SH   SOLE   252,812 0 0
Chubb Corp COM 171232101 2,907 30,557 SH   SOLE   30,557 0 0
Cigna Corp COM 125509109 349 2,154 SH   SOLE   2,154 0 0
Cisco Systems Inc COM 17275R102 3,151 114,743 SH   SOLE   114,743 0 0
Citigroup Inc COM 172967424 288 5,218 SH   SOLE   5,218 0 0
Clorox Company COM 189054109 8,984 86,372 SH   SOLE   86,372 0 0
Coca-Cola Co/The COM 191216100 4,521 115,232 SH   SOLE   115,232 0 0
Colgate-Palmolive Co COM 194162103 8,472 129,527 SH   SOLE   129,527 0 0
Colony Capital COM 19624r106 213 9,387 SH   SOLE   9,387 0 0
Comcast Corp-Cl A COM 20030n101 7,438 123,673 SH   SOLE   123,673 0 0
Conagra Foods Inc COM 205887102 1,365 31,220 SH   SOLE   31,220 0 0
ConocoPhillips COM 20825C104 13,281 216,265 SH   SOLE   216,265 0 0
Consolidated Edison Inc COM 209115104 890 15,373 SH   SOLE   15,373 0 0
Costco Wholesale Corp COM 22160K105 12,566 93,038 SH   SOLE   93,038 0 0
Crown Castle Intl Corp COM 22822v101 5,387 67,080 SH   SOLE   67,080 0 0
DIRECTV COM 25490a309 318 3,422 SH   SOLE   3,422 0 0
DTE Energy Company COM 233331107 227 3,047 SH   SOLE   3,047 0 0
Danaher Corp COM 235851102 4,669 54,546 SH   SOLE   54,546 0 0
Deere & Co COM 244199105 1,513 15,586 SH   SOLE   15,586 0 0
Diageo Plc-Sponsored ADR COM 25243q205 421 3,626 SH   SOLE   3,626 0 0
Dick's Sporting Goods Inc COM 253393102 812 15,688 SH   SOLE   15,688 0 0
Disney Co./Walt The COM 254687106 10,873 95,262 SH   SOLE   95,262 0 0
Dominion Resources Inc/Va COM 25746u109 517 7,738 SH   SOLE   7,738 0 0
Dow Chemical COM 260543103 521 10,173 SH   SOLE   10,173 0 0
Dr Pepper Snapple Group Inc COM 26138e109 840 11,524 SH   SOLE   11,524 0 0
Du Pont (E.I.) De Nemours COM 263534109 9,235 144,416 SH   SOLE   144,416 0 0
Duke Energy Corp COM 26441c204 753 10,669 SH   SOLE   10,669 0 0
EGShares Emerging Markets Cons COM 268461779 4,781 183,460 SH   SOLE   183,460 0 0
EMC Corp Mass COM 268648102 390 14,782 SH   SOLE   14,782 0 0
ETFS Physical Precious Metals COM 26922w109 551 9,310 SH   SOLE   9,310 0 0
Eaton Corp PLC COM g29183103 1,361 20,168 SH   SOLE   20,168 0 0
Ecolab Inc COM 278865100 7,383 65,293 SH   SOLE   65,293 0 0
Edison International COM 281020107 4,218 75,882 SH   SOLE   75,882 0 0
Eli Lilly & Co COM 532457108 4,867 58,300 SH   SOLE   58,300 0 0
Emerson Electric Co COM 291011104 1,800 32,468 SH   SOLE   32,468 0 0
Encounter Technologies Inc COM 29259j303 0 62,000 SH   SOLE   62,000 0 0
Energy Transfer Equity LP COM 29273v100 513 8,000 SH   SOLE   8,000 0 0
Energy Transfer Partners LP COM 29273r109 229 4,390 SH   SOLE   4,390 0 0
Enterprise Products Partners COM 293792107 1,248 41,737 SH   SOLE   41,737 0 0
Equity Residential COM 29476l107 217 3,090 SH   SOLE   3,090 0 0
Essex Property Trust Inc COM 297178105 429 2,020 SH   SOLE   2,020 0 0
Eurasian Minerals Inc COM 29843r100 28 54,086 SH   SOLE   54,086 0 0
Eversource Energy COM 30040w108 277 6,103 SH   SOLE   6,103 0 0
Express Scripts Holding Co. COM 30219g108 1,345 15,118 SH   SOLE   15,118 0 0
Exxon Mobil Corp COM 30231G102 12,996 156,201 SH   SOLE   156,201 0 0
Facebook Inc COM 30303m102 436 5,086 SH   SOLE   5,086 0 0
FedEx Corp COM 31428x106 691 4,052 SH   SOLE   4,052 0 0
FireEye Inc COM 31816q101 286 5,851 SH   SOLE   5,851 0 0
First Republic Bank/San Franci COM 33616C100 208 3,300 SH   SOLE   3,300 0 0
First Trust Dividend Leaders I COM 336917109 1,245 54,602 SH   SOLE   54,602 0 0
First Trust Mid Cap Growth Alp COM 33737m102 1,016 33,041 SH   SOLE   33,041 0 0
First Trust Mid Cap Value ETF COM 33737m201 282 9,168 SH   SOLE   9,168 0 0
First Trust Rising Dividend Ac COM 33738r506 250 11,384 SH   SOLE   11,384 0 0
Flagstar Bancorp Inc COM 337930705 185 10,000 SH   SOLE   10,000 0 0
Ford Motor Co COM 345370860 2,068 137,781 SH   SOLE   137,781 0 0
Fortinet Inc COM 34959e109 377 9,129 SH   SOLE   9,129 0 0
Franklin Resources Inc COM 354613101 363 7,395 SH   SOLE   7,395 0 0
Freeport-McMoRan Copper & Gold COM 35671d857 720 38,659 SH   SOLE   38,659 0 0
Frontier Communications Corp COM 35906a108 79 15,937 SH   SOLE   15,937 0 0
General Dynamics Corp COM 369550108 2,236 15,780 SH   SOLE   15,780 0 0
General Electric Co COM 369604103 18,868 710,135 SH   SOLE   710,135 0 0
General Mills Inc COM 370334104 5,030 90,270 SH   SOLE   90,270 0 0
Genuine Parts Co COM 372460105 5,171 57,762 SH   SOLE   57,762 0 0
Gilead Sciences Inc COM 375558103 2,529 21,604 SH   SOLE   21,604 0 0
GlaxoSmithKline Plc-ADR COM 37733w105 1,741 41,807 SH   SOLE   41,807 0 0
Global Brands Group Holding COM g39338101 2 10,000 SH   SOLE   10,000 0 0
Global X SuperIncome Preferred COM 37950e333 218 15,402 SH   SOLE   15,402 0 0
Goldman Sachs Group Inc COM 38141G104 523 2,506 SH   SOLE   2,506 0 0
Google Inc-Cl A COM 38259P508 2,621 4,854 SH   SOLE   4,854 0 0
Google Inc-Cl C COM 38259p706 2,167 4,164 SH   SOLE   4,164 0 0
Grainger (W.W.) Inc COM 384802104 317 1,338 SH   SOLE   1,338 0 0
Guggenheim BRIC ETF COM 18383m100 227 7,645 SH   SOLE   7,645 0 0
Guggenheim Russell Top 50 ETF COM 78355w205 711 5,026 SH   SOLE   5,026 0 0
Guggenheim S&P Equal Weight COM 78355w106 737 9,239 SH   SOLE   9,239 0 0
H&R Block Inc COM 093671105 323 10,900 SH   SOLE   10,900 0 0
HCP Inc COM 40414l109 5,045 138,342 SH   SOLE   138,342 0 0
HPEV Inc COM 404273104 7 17,800 SH   SOLE   17,800 0 0
Hain Celestial Group Inc COM 405217100 275 4,168 SH   SOLE   4,168 0 0
Harman International COM 413086109 831 6,987 SH   SOLE   6,987 0 0
Hershey Co/The COM 427866108 209 2,354 SH   SOLE   2,354 0 0
Hess Corp COM 42809h107 482 7,200 SH   SOLE   7,200 0 0
Hewlett-Packard Co COM 428236103 1,975 65,805 SH   SOLE   65,805 0 0
Home Depot Inc COM 437076102 7,060 63,532 SH   SOLE   63,532 0 0
Honeywell International Inc COM 438516106 5,361 52,574 SH   SOLE   52,574 0 0
Hormel Foods Corp COM 440452100 336 5,956 SH   SOLE   5,956 0 0
Hubbell Inc -Cl B COM 443510201 217 2,000 SH   SOLE   2,000 0 0
ICON PLC COM g4705a100 245 3,644 SH   SOLE   3,644 0 0
Illinois Tool Works COM 452308109 452 4,919 SH   SOLE   4,919 0 0
Illumina Inc COM 452327109 229 1,051 SH   SOLE   1,051 0 0
Infinito Gold Ltd COM 45671c106 0 18,200 SH   SOLE   18,200 0 0
Ingersoll-Rand PLC COM g47791101 1,871 27,755 SH   SOLE   27,755 0 0
Inovalon Holdings, Inc. COM 45781d101 224 8,022 SH   SOLE   8,022 0 0
Integral Technologies Inc COM 45810j103 11 17,000 SH   SOLE   17,000 0 0
Intel Corp COM 458140100 12,362 406,437 SH   SOLE   406,437 0 0
Intl Business Machines Corp COM 459200101 6,211 38,183 SH   SOLE   38,183 0 0
Intl Flavors & Fragrances COM 459506101 582 5,325 SH   SOLE   5,325 0 0
Intrexon Corp COM 46122t102 488 10,003 SH   SOLE   10,003 0 0
Intuit Inc COM 461202103 276 2,737 SH   SOLE   2,737 0 0
Ivanhoe Mines Ltd COM 46579r104 143 200,000 SH   SOLE   200,000 0 0
JPMorgan Chase & Co COM 46625H100 7,885 116,365 SH   SOLE   116,365 0 0
Jacobs Engineering Group Inc COM 469814107 290 7,144 SH   SOLE   7,144 0 0
Johnson & Johnson COM 478160104 21,479 220,392 SH   SOLE   220,392 0 0
Johnson Controls Inc COM 478366107 1,703 34,390 SH   SOLE   34,390 0 0
KKR & Co LP COM 48248m102 202 8,857 SH   SOLE   8,857 0 0
Keysight Technologies Inc COM 49338l103 265 8,481 SH   SOLE   8,481 0 0
Kimberly-Clark Corp COM 494368103 10,741 101,362 SH   SOLE   101,362 0 0
Kinder Morgan Inc COM 49456b101 7,886 205,429 SH   SOLE   205,429 0 0
Kohl's Corp COM 500255104 376 6,000 SH   SOLE   6,000 0 0
Kraft Foods Group COM 50076q106 2,796 32,845 SH   SOLE   32,845 0 0
L-3 Communications Holdings COM 502424104 326 2,871 SH   SOLE   2,871 0 0
Laboratory Corp Of Amer Hldgs COM 50540r409 1,800 14,847 SH   SOLE   14,847 0 0
Lam Research Corp COM 512807108 208 2,553 SH   SOLE   2,553 0 0
Lannett Company Inc COM 516012101 277 4,668 SH   SOLE   4,668 0 0
Leggett & Platt Inc COM 524660107 205 4,209 SH   SOLE   4,209 0 0
Li & Fung Ltd COM g5485f169 8 10,000 SH   SOLE   10,000 0 0
Linn Energy LLC-Units COM 536020100 208 23,300 SH   SOLE   23,300 0 0
Lockheed Martin Corp COM 539830109 2,914 15,675 SH   SOLE   15,675 0 0
Lowe's Cos Inc COM 548661107 3,972 59,314 SH   SOLE   59,314 0 0
Lululemon Athletica Inc COM 550021109 534 8,184 SH   SOLE   8,184 0 0
MabVax Therapeutics Holdings COM 55414p108 116 50,000 SH   SOLE   50,000 0 0
Macy's Inc COM 55616p104 2,105 31,198 SH   SOLE   31,198 0 0
Mallinckrodt PLC COM g5785g107 403 3,422 SH   SOLE   3,422 0 0
Manulife Financial Corp COM 56501r106 393 21,130 SH   SOLE   21,130 0 0
Marathon Oil Corp COM 565849106 286 10,788 SH   SOLE   10,788 0 0
Marathon Petroleum Corp COM 56585a102 363 6,934 SH   SOLE   6,934 0 0
Market Vectors Agribusiness ET COM 57060u605 873 15,840 SH   SOLE   15,840 0 0
Market Vectors Pharmaceutical COM 57060u217 566 8,000 SH   SOLE   8,000 0 0
Marriott International-Cl A COM 571903202 2,423 32,567 SH   SOLE   32,567 0 0
McCormick & Co-Non Vtg Shrs COM 579780206 1,750 21,621 SH   SOLE   21,621 0 0
McDonald's Corp COM 580135101 9,555 100,506 SH   SOLE   100,506 0 0
McGraw Hill Financial Inc COM 580645109 893 8,890 SH   SOLE   8,890 0 0
McKesson Corp COM 58155q103 219 975 SH   SOLE   975 0 0
Medical Properties Trust Inc COM 58463j304 300 22,914 SH   SOLE   22,914 0 0
Medivation Inc COM 58501n101 229 2,002 SH   SOLE   2,002 0 0
Medtronic PLC COM g5960l103 6,064 81,838 SH   SOLE   81,838 0 0
Merck & Co. Inc. COM 58933y105 8,037 141,171 SH   SOLE   141,171 0 0
Microsoft Corp COM 594918104 8,053 182,400 SH   SOLE   182,400 0 0
Mondelez International COM 609207105 2,445 59,433 SH   SOLE   59,433 0 0
Morgan Stanley COM 617446448 3,072 79,202 SH   SOLE   79,202 0 0
Mylan NV COM n59465109 2,670 39,350 SH   SOLE   39,350 0 0
NXP Semiconductors Nv COM n6596x109 944 9,617 SH   SOLE   9,617 0 0
Nestle Sa-Spons ADR For Reg COM 641069406 4,525 62,706 SH   SOLE   62,706 0 0
NextEra Energy Inc COM 65339f101 11,055 112,768 SH   SOLE   112,768 0 0
Nike Inc -Cl B COM 654106103 8,194 75,855 SH   SOLE   75,855 0 0
Nordstrom Inc COM 655664100 500 6,715 SH   SOLE   6,715 0 0
Norfolk Southern Corp COM 655844108 425 4,861 SH   SOLE   4,861 0 0
Novartis Ag-ADR COM 66987v109 4,109 41,783 SH   SOLE   41,783 0 0
Novo-Nordisk A/S-Spons ADR COM 670100205 267 4,877 SH   SOLE   4,877 0 0
Occidental Petroleum Corp COM 674599105 7,398 95,125 SH   SOLE   95,125 0 0
Ocean Power Corp COM 674869201 0 201,576 SH   SOLE   201,576 0 0
Oracle Corp COM 68389x105 4,875 120,958 SH   SOLE   120,958 0 0
P G & E Corp COM 69331c108 467 9,508 SH   SOLE   9,508 0 0
PPG Industries Inc COM 693506107 276 2,409 SH   SOLE   2,409 0 0
Paccar Inc COM 693718108 1,905 29,854 SH   SOLE   29,854 0 0
Palo Alto Networks COM 697435105 978 5,598 SH   SOLE   5,598 0 0
PepsiCo Inc COM 713448108 7,632 81,766 SH   SOLE   81,766 0 0
Pfizer Inc COM 717081103 8,339 248,688 SH   SOLE   248,688 0 0
Philip Morris International COM 718172109 1,817 22,659 SH   SOLE   22,659 0 0
Phillips 66 COM 718546104 244 3,034 SH   SOLE   3,034 0 0
Piedmont Mining Co Inc COM 720172105 0 10,000 SH   SOLE   10,000 0 0
Plains All American Pipeline L COM 726503105 262 6,022 SH   SOLE   6,022 0 0
Potash Corp Of Saskatchewan COM 73755l107 837 27,020 SH   SOLE   27,020 0 0
PowerShares Buyback Achievers COM 73935x286 244 5,010 SH   SOLE   5,010 0 0
PowerShares Preferred Portfoli COM 73936t565 6,070 417,768 SH   SOLE   417,768 0 0
PowerShares S&P Low Volatility COM 73937b779 329 8,984 SH   SOLE   8,984 0 0
Powershares QQQ NASDAQ 100 Tru COM 73935a104 2,429 22,690 SH   SOLE   22,690 0 0
Praxair Inc COM 74005p104 2,524 21,115 SH   SOLE   21,115 0 0
Preferred Apartment Communitie COM 74039l103 2,216 222,668 SH   SOLE   222,668 0 0
ProLogis Inc COM 74340w103 324 8,733 SH   SOLE   8,733 0 0
Procter & Gamble Co COM 742718109 19,569 250,118 SH   SOLE   250,118 0 0
Public Service Enterprise Grou COM 744573106 1,852 47,148 SH   SOLE   47,148 0 0
Qualcomm Inc COM 747525103 564 9,002 SH   SOLE   9,002 0 0
Quest Diagnostics COM 74834l100 451 6,225 SH   SOLE   6,225 0 0
Realty Income Corp COM 756109104 7,652 172,378 SH   SOLE   172,378 0 0
Regeneron Pharmaceuticals Inc COM 75886f107 655 1,284 SH   SOLE   1,284 0 0
Retail Properties of America COM 76131v202 547 39,293 SH   SOLE   39,293 0 0
Robert Half Intl Inc COM 770323103 423 7,629 SH   SOLE   7,629 0 0
Roche Holdings LTD-Spons ADR COM 771195104 2,840 80,975 SH   SOLE   80,975 0 0
Rockwell Automation Inc COM 773903109 223 1,793 SH   SOLE   1,793 0 0
Roper Technologies Inc COM 776696106 215 1,249 SH   SOLE   1,249 0 0
Royal Dutch Shell Plc-ADR A COM 780259206 1,192 20,907 SH   SOLE   20,907 0 0
SAP SE-Sponsored ADR COM 803054204 678 9,653 SH   SOLE   9,653 0 0
SPDR Consumer Discretionary Se COM 81369y407 4,947 64,682 SH   SOLE   64,682 0 0
SPDR Consumer Staples Select S COM 81369y308 4,393 92,281 SH   SOLE   92,281 0 0
SPDR Dow Jones Industrial Aver COM 78467x109 812 4,621 SH   SOLE   4,621 0 0
SPDR Energy Select Sector COM 81369y506 3,412 45,397 SH   SOLE   45,397 0 0
SPDR Financial Select Sector COM 81369y605 3,971 162,868 SH   SOLE   162,868 0 0
SPDR Gold Trust COM 78463v107 836 7,441 SH   SOLE   7,441 0 0
SPDR Health Care Select Sector COM 81369y209 6,003 80,702 SH   SOLE   80,702 0 0
SPDR Industrial Select Sector COM 81369y704 3,775 69,824 SH   SOLE   69,824 0 0
SPDR Materials Select Sector COM 81369y100 1,264 26,113 SH   SOLE   26,113 0 0
SPDR S&P 500 Index Trust Serie COM 78462f103 7,779 37,790 SH   SOLE   37,790 0 0
SPDR S&P Biotech ETF COM 78464a870 640 2,538 SH   SOLE   2,538 0 0
SPDR S&P Dividend ETF COM 78464a763 9,862 129,410 SH   SOLE   129,410 0 0
SPDR S&P Emerging Markets Smal COM 78463x756 256 5,675 SH   SOLE   5,675 0 0
SPDR S&P Intl Dividend COM 78463x772 463 11,160 SH   SOLE   11,160 0 0
SPDR S&P MidCap 400 ETF Trust COM 78467y107 10,085 36,916 SH   SOLE   36,916 0 0
SPDR Technology Select Sector COM 81369y803 7,212 174,205 SH   SOLE   174,205 0 0
SPDR Utilities Select Sector COM 81369y886 768 18,524 SH   SOLE   18,524 0 0
Salesforce.Com Inc COM 79466l302 1,164 16,716 SH   SOLE   16,716 0 0
Sanofi-ADR COM 80105n105 4,436 89,561 SH   SOLE   89,561 0 0
Scana Corp COM 80589m102 669 13,207 SH   SOLE   13,207 0 0
Scandium International Mining COM 80600l109 2 23,400 SH   SOLE   23,400 0 0
Schlumberger Ltd COM 806857108 743 8,620 SH   SOLE   8,620 0 0
Schwab (Charles) Corp COM 808513105 764 23,397 SH   SOLE   23,397 0 0
Schwab U.S. Broad Market ETF COM 808524102 1,500 29,867 SH   SOLE   29,867 0 0
Schwab U.S. Large-Cap ETF COM 808524201 2,277 46,181 SH   SOLE   46,181 0 0
Schwab U.S. Mid-Cap ETF COM 808524508 2,114 49,581 SH   SOLE   49,581 0 0
Schwab U.S. Small-Cap ETF COM 808524607 1,125 19,569 SH   SOLE   19,569 0 0
Schwab US Dividend Equity ETF COM 808524797 1,047 27,346 SH   SOLE   27,346 0 0
Sempra Energy COM 816851109 1,936 19,572 SH   SOLE   19,572 0 0
Sierra Vista Bank COM 82651b105 78 20,000 SH   SOLE   20,000 0 0
Sigma-Aldrich COM 826552101 225 1,615 SH   SOLE   1,615 0 0
Silvercorp Metals Inc COM 82835p103 11 10,000 SH   SOLE   10,000 0 0
Sirius XM Holdings Inc COM 82968b103 565 151,484 SH   SOLE   151,484 0 0
Southern Co COM 842587107 2,193 52,344 SH   SOLE   52,344 0 0
Southern Copper Corp COM 84265v105 370 12,569 SH   SOLE   12,569 0 0
Spectra Energy Corp COM 847560109 2,304 70,673 SH   SOLE   70,673 0 0
Spectral Medical Inc COM 847577103 17 25,000 SH   SOLE   25,000 0 0
Sprott Physical Gold Trust COM 85207h104 133 13,737 SH   SOLE   13,737 0 0
Sprott Resource Corp COM 85207d103 148 200,000 SH   SOLE   200,000 0 0
St Jude Medical Inc COM 790849103 924 12,651 SH   SOLE   12,651 0 0
Stanley Black & Decker Inc COM 854502101 5,133 48,778 SH   SOLE   48,778 0 0
Starbucks Corp COM 855244109 4,911 91,603 SH   SOLE   91,603 0 0
State Street Corp COM 857477103 302 3,920 SH   SOLE   3,920 0 0
Strategic Hotels & Resorts Inc COM 86272t106 156 12,832 SH   SOLE   12,832 0 0
Stryker Corp COM 863667101 301 3,152 SH   SOLE   3,152 0 0
Sysco Corp COM 871829107 243 6,723 SH   SOLE   6,723 0 0
T Rowe Price Group Inc COM 74144t108 403 5,190 SH   SOLE   5,190 0 0
TD Ameritrade Holding Corp COM 87236y108 1,777 48,265 SH   SOLE   48,265 0 0
TJX Companies Inc COM 872540109 482 7,282 SH   SOLE   7,282 0 0
Target Corp COM 87612e106 8,199 100,435 SH   SOLE   100,435 0 0
Taseko Mines Ltd COM 876511106 22 40,000 SH   SOLE   40,000 0 0
Teco Energy Inc COM 872375100 2,845 161,099 SH   SOLE   161,099 0 0
Tesla Motors Inc COM 88160r101 509 1,896 SH   SOLE   1,896 0 0
Teva Pharmaceutical-Sp ADR COM 881624209 469 7,938 SH   SOLE   7,938 0 0
Texas Instruments Inc COM 882508104 322 6,247 SH   SOLE   6,247 0 0
Thermo Fisher Scientific Inc COM 883556102 209 1,612 SH   SOLE   1,612 0 0
Time Warner Inc COM 887317303 761 8,703 SH   SOLE   8,703 0 0
Toronto-Dominion Bank COM 891160509 4,206 98,951 SH   SOLE   98,951 0 0
Toyota Motor Corp -Spon ADR COM 892331307 2,566 19,185 SH   SOLE   19,185 0 0
Travelers Cos Inc/The COM 89417e109 3,029 31,335 SH   SOLE   31,335 0 0
Tri-Valley Corporation COM 895735108 0 30,600 SH   SOLE   30,600 0 0
Turquoise Hill Resources Ltd COM 900435108 114 30,000 SH   SOLE   30,000 0 0
Twenty-First Century Fox-B (fo COM 90130a200 2,470 76,670 SH   SOLE   76,670 0 0
UDR Inc COM 902653104 227 7,080 SH   SOLE   7,080 0 0
US Bancorp COM 902973304 2,064 47,547 SH   SOLE   47,547 0 0
Unilever N V -NY Shares COM 904784709 3,107 74,268 SH   SOLE   74,268 0 0
Unilever Plc-Sponsored ADR COM 904767704 1,827 42,526 SH   SOLE   42,526 0 0
Union Pacific Corp COM 907818108 2,020 21,184 SH   SOLE   21,184 0 0
United Parcel Service-Cl B COM 911312106 8,404 86,721 SH   SOLE   86,721 0 0
United Technologies Corp COM 913017109 3,234 29,155 SH   SOLE   29,155 0 0
UnitedHealth Group Inc COM 91324P102 1,218 9,985 SH   SOLE   9,985 0 0
VF Corporation COM 918204108 221 3,169 SH   SOLE   3,169 0 0
Vanguard Consumer Discretionar COM 92204a108 409 3,289 SH   SOLE   3,289 0 0
Vanguard Consumer Staples Vipe COM 92204a207 315 2,520 SH   SOLE   2,520 0 0
Vanguard Dividend Appreciation COM 921908844 901 11,472 SH   SOLE   11,472 0 0
Vanguard European Vipers COM 922042874 765 14,165 SH   SOLE   14,165 0 0
Vanguard FTSE All-World Ex-US COM 922042775 253 5,217 SH   SOLE   5,217 0 0
Vanguard FTSE Developed Market COM 921943858 1,901 47,934 SH   SOLE   47,934 0 0
Vanguard FTSE Emerging Markets COM 922042858 1,462 35,765 SH   SOLE   35,765 0 0
Vanguard Health Care Vipers COM 92204a504 340 2,430 SH   SOLE   2,430 0 0
Vanguard High Div Yield ETF COM 921946406 1,495 22,204 SH   SOLE   22,204 0 0
Vanguard Info Tech Vipers COM 92204a702 506 4,765 SH   SOLE   4,765 0 0
Vanguard Large-Cap Vipers ETF COM 922908637 396 4,179 SH   SOLE   4,179 0 0
Vanguard Mid-Cap COM 922908629 3,823 30,000 SH   SOLE   30,000 0 0
Vanguard REIT COM 922908553 1,329 17,794 SH   SOLE   17,794 0 0
Vanguard S&P 500 COM 922908363 208 1,100 SH   SOLE   1,100 0 0
Vanguard Small-Cap Vipers COM 922908751 4,677 38,501 SH   SOLE   38,501 0 0
Vanguard Total Stock Market COM 922908769 13,026 121,718 SH   SOLE   121,718 0 0
Varian Medical Systems Inc COM 92220P105 1,231 14,592 SH   SOLE   14,592 0 0
Verizon Communications Inc COM 92343v104 23,372 501,445 SH   SOLE   501,445 0 0
Visa Inc-Class A Shares COM 92826c839 734 10,938 SH   SOLE   10,938 0 0
Vornado Realty Trust COM 929042109 5,630 59,308 SH   SOLE   59,308 0 0
Voyant International Corp COM 92909w108 0 53,652 SH   SOLE   53,652 0 0
WEC Energy Group Inc COM 92939u106 4,293 95,460 SH   SOLE   95,460 0 0
Wal-Mart Stores Inc COM 931142103 1,059 14,933 SH   SOLE   14,933 0 0
Walgreens Boots Alliance Inc COM 931427108 10,776 127,615 SH   SOLE   127,615 0 0
Waste Management Inc COM 94106l109 7,496 161,730 SH   SOLE   161,730 0 0
Wells Fargo & Company COM 949746101 31,989 568,801 SH   SOLE   568,801 0 0
Westamerica Bancorportaion COM 957090103 645 12,741 SH   SOLE   12,741 0 0
Weyerhaeuser Co COM 962166104 958 30,415 SH   SOLE   30,415 0 0
Whirlpool Corp COM 963320106 2,507 14,486 SH   SOLE   14,486 0 0
White Mountains Insurance Grou COM g9618e107 680 1,038 SH   SOLE   1,038 0 0
Whole Foods Market Inc COM 966837106 5,594 141,834 SH   SOLE   141,834 0 0
Williams Cos Inc COM 969457100 10,961 190,994 SH   SOLE   190,994 0 0
Williams-Sonoma Inc COM 969904101 839 10,200 SH   SOLE   10,200 0 0
Xcel Energy Inc COM 98389b100 224 6,965 SH   SOLE   6,965 0 0
Xylem Inc COM 98419m100 216 5,822 SH   SOLE   5,822 0 0
Yahoo! Inc COM 984332106 1,084 27,600 SH   SOLE   27,600 0 0
Yum! Brands Inc COM 988498101 393 4,365 SH   SOLE   4,365 0 0
Zimmer Biomet Holdings Inc COM 98956p102 1,744 15,964 SH   SOLE   15,964 0 0
Zogenix Inc COM 98978l105 17 10,000 SH   SOLE   10,000 0 0
iShares DJ Select Dividend Ind COM 464287168 6,275 83,501 SH   SOLE   83,501 0 0
iShares DJ US Financial Sect COM 464287788 1,195 13,319 SH   SOLE   13,319 0 0
iShares DJ US Health Car Pro COM 464288828 293 2,052 SH   SOLE   2,052 0 0
iShares DJ US Telecommunicatio COM 464287713 619 21,128 SH   SOLE   21,128 0 0
iShares DJ US Transport Index COM 464287192 897 6,190 SH   SOLE   6,190 0 0
iShares FTSE/Xinhua China 25 COM 464287184 1,024 22,206 SH   SOLE   22,206 0 0
iShares Gold Trust COM 464285105 752 66,358 SH   SOLE   66,358 0 0
iShares Goldman Sachs Tech I COM 464287721 252 2,410 SH   SOLE   2,410 0 0
iShares Intl Select Div COM 464288448 1,905 58,918 SH   SOLE   58,918 0 0
iShares MCSI EAFE Growth Index COM 464288885 273 3,900 SH   SOLE   3,900 0 0
iShares MSCI Australia Index COM 464286103 526 25,000 SH   SOLE   25,000 0 0
iShares MSCI Canada Index COM 464286509 613 22,970 SH   SOLE   22,970 0 0
iShares MSCI EAFE Index COM 464287465 1,343 21,160 SH   SOLE   21,160 0 0
iShares MSCI EAFE Value Index COM 464288877 264 5,040 SH   SOLE   5,040 0 0
iShares MSCI EMU Index-Europea COM 464286608 375 10,000 SH   SOLE   10,000 0 0
iShares MSCI Emerging Markets COM 464287234 1,437 36,260 SH   SOLE   36,260 0 0
iShares MSCI Hong Kong Index - COM 464286871 876 38,835 SH   SOLE   38,835 0 0
iShares MSCI Mexico Index COM 464286822 340 5,945 SH   SOLE   5,945 0 0
iShares MSCI Singapore Index COM 464286673 323 25,700 SH   SOLE   25,700 0 0
iShares MSCI South Korea Index COM 464286772 232 4,213 SH   SOLE   4,213 0 0
iShares MSCI USA Quality Facto COM 46432f339 688 10,890 SH   SOLE   10,890 0 0
iShares Microcap ETF COM 464288869 631 7,745 SH   SOLE   7,745 0 0
iShares Nasdaq Biotech Index F COM 464287556 5,350 14,499 SH   SOLE   14,499 0 0
iShares North American Natural COM 464287374 640 17,643 SH   SOLE   17,643 0 0
iShares Russell 1000 Growth COM 464287614 755 7,625 SH   SOLE   7,625 0 0
iShares Russell 1000 Value COM 464287598 239 2,318 SH   SOLE   2,318 0 0
iShares Russell 2000 Index Fun COM 464287655 1,449 11,603 SH   SOLE   11,603 0 0
iShares Russell Midcap Growth COM 464287481 204 2,104 SH   SOLE   2,104 0 0
iShares Russell Midcap Index COM 464287499 335 1,969 SH   SOLE   1,969 0 0
iShares Russell Midcap Value I COM 464287473 348 4,717 SH   SOLE   4,717 0 0
iShares S&P 100 Index Fund COM 464287101 1,876 20,656 SH   SOLE   20,656 0 0
iShares S&P 500 Index Fund COM 464287200 566 2,733 SH   SOLE   2,733 0 0
iShares S&P Europe 350 COM 464287861 3,246 74,221 SH   SOLE   74,221 0 0
iShares S&P Global 100 COM 464287572 651 8,651 SH   SOLE   8,651 0 0
iShares S&P Midcap 400 COM 464287507 1,477 9,845 SH   SOLE   9,845 0 0
iShares S&P Midcap 400/Value COM 464287705 422 3,270 SH   SOLE   3,270 0 0
iShares S&P SmallCap 600 COM 464287804 656 5,568 SH   SOLE   5,568 0 0
iShares S&P US Preferred Stock COM 464288687 9,273 236,740 SH   SOLE   236,740 0 0
AEGON 8.00% 2042 Notes Call 08 PFD 007924608 3,538 127,801 SH   SOLE   127,801 0 0
AON Cap 8.205% 1/27 Non-Call B PFD 22532r101 2,349 77,809 SH   SOLE   77,809 0 0
Affiliated Mgrs Grp 6.375% SrN PFD 008252876 313 12,183 SH   SOLE   12,183 0 0
AllState 6.75 2049 Call 10/201 PFD 020002606 203 7,689 SH   SOLE   7,689 0 0
Allied Capital ARCC6.875% 4/20 PFD 01903q207 289 11,559 SH   SOLE   11,559 0 0
American Capital Agency 8.0% P PFD 02503x204 1,005 39,836 SH   SOLE   39,836 0 0
American Capital Agncy 7.75% P PFD 02503x303 612 25,219 SH   SOLE   25,219 0 0
Amtrust Financial 7.25% CUM QD PFD 032359507 269 10,681 SH   SOLE   10,681 0 0
Amtrust Financial 7.5% QDI Cal PFD 032359887 2,616 104,026 SH   SOLE   104,026 0 0
Amtrust Financial 7.625%CUM QD PFD 032359705 2,844 111,589 SH   SOLE   111,589 0 0
Annaly Capital 7.625% Perp Cl PFD 035710706 220 9,101 SH   SOLE   9,101 0 0
Arbor Realty 8.50% CUM Perp Ca PFD 038923801 212 8,431 SH   SOLE   8,431 0 0
Arch Capital 6.75% BBB QDI Cl PFD g0450a204 677 26,524 SH   SOLE   26,524 0 0
Ares Capital 7.75% 2040 Call 1 PFD 04010l202 1,909 75,374 SH   SOLE   75,374 0 0
Argo Group 6.5% Sr Notes Call PFD 040130205 743 29,450 SH   SOLE   29,450 0 0
Ashford Hospitality 9.0% NR Ca PFD 044103505 1,098 41,711 SH   SOLE   41,711 0 0
Aspen Insurance 7.25% Call07/2 PFD g05384147 6,572 251,511 SH   SOLE   251,511 0 0
Aspen Insurance 7.401% Call 07 PFD g05384139 739 28,920 SH   SOLE   28,920 0 0
Aviva 8.25% 12/2041 Call 12/20 PFD 05382a203 4,778 177,606 SH   SOLE   177,606 0 0
Axis Capital 6.875% Cl 4/17 QD PFD g0692u307 564 22,000 SH   SOLE   22,000 0 0
BAC Flt LIB+35 BB NCU QDI Cl 1 PFD 060505815 232 10,943 SH   SOLE   10,943 0 0
BB&T Capital 5.625% Call 8/201 PFD 054937404 212 8,783 SH   SOLE   8,783 0 0
BGC Partners 8.125% 2042 Call PFD 05541t408 4,674 170,907 SH   SOLE   170,907 0 0
Banc of California 7.375% Cal2 PFD 05990k882 3,263 125,023 SH   SOLE   125,023 0 0
Banc of California 8.00% Call9 PFD 05990k403 1,802 68,056 SH   SOLE   68,056 0 0
Bank of America 6.5% Prp Cl 1/ PFD 060505310 558 22,100 SH   SOLE   22,100 0 0
Bank of America 6.625% Prp/Cl PFD 060505344 1,528 59,848 SH   SOLE   59,848 0 0
Bank of America 6.625%Prp Cl 1 PFD 060505740 627 24,585 SH   SOLE   24,585 0 0
Barclays 7.75% Prp Cl 9/13 BB PFD 06739h511 686 26,471 SH   SOLE   26,471 0 0
Barclays 8.125% Perp/Cl 3/14 B PFD 06739h362 847 32,595 SH   SOLE   32,595 0 0
Barclays Bank 7.1% Prp Call 12 PFD 06739h776 917 35,291 SH   SOLE   35,291 0 0
CBL & Associates 6.5% Perp CUM PFD 124830803 214 8,370 SH   SOLE   8,370 0 0
CHS Chemical 7.50% Cl 1/2025 C PFD 12542r803 2,915 107,794 SH   SOLE   107,794 0 0
CHS Chemicals 6.75% Perp cl 20 PFD 12542r704 293 11,513 SH   SOLE   11,513 0 0
CHS Chemicals 7.875% Perp cl 2 PFD 12542r308 257 9,197 SH   SOLE   9,197 0 0
Capital One Finl 6.7%Prp Call PFD 14040h709 1,039 39,973 SH   SOLE   39,973 0 0
CenturyLink Quest 6.125%Nts Cl PFD 74913g600 249 10,000 SH   SOLE   10,000 0 0
CenturyLink Quest 7.0%SnNts Cl PFD 74913g501 2,714 105,498 SH   SOLE   105,498 0 0
CenturyLink Quest7.375% 6/51 C PFD 74913g204 1,020 39,230 SH   SOLE   39,230 0 0
CenturyLink SnNote7.5% 2051 Cl PFD 74913g303 5,843 223,867 SH   SOLE   223,867 0 0
CenturyLink SnNotes 6.875% CL PFD 74913g105 1,638 63,300 SH   SOLE   63,300 0 0
CenturyLink SnNotes 7.0% 2052 PFD 74913G402 1,304 50,850 SH   SOLE   50,850 0 0
Chesapeake Lodging 7.75% PerpC PFD 165240201 3,225 120,562 SH   SOLE   120,562 0 0
Citigroup 5.8% B1 Call 4/18 QD PFD 172967366 269 10,800 SH   SOLE   10,800 0 0
Citigroup 7.125% Flt Aftr 9/23 PFD 172967358 5,288 193,220 SH   SOLE   193,220 0 0
Citigroup Tst 7.875% Cl2015 Li PFD 173080201 322 12,410 SH   SOLE   12,410 0 0
Colony Financial7.125%Perp CUM PFD 19624r403 1,053 45,250 SH   SOLE   45,250 0 0
Colony Financial8.50% Perp CUM PFD 19624r205 350 13,548 SH   SOLE   13,548 0 0
CoreEnergy 7.375% Pfd - Par Ca PFD 21870u304 910 37,688 SH   SOLE   37,688 0 0
Corporate Office Prop 7.375% C PFD 22002t884 1,940 73,777 SH   SOLE   73,777 0 0
Costamare 7.625% CUM QDI Perp PFD y1771g110 622 29,188 SH   SOLE   29,188 0 0
Costamare 8.50% CUM QDI Perp C PFD y1771g128 3,146 133,036 SH   SOLE   133,036 0 0
Cowen 8.25% Senior Notes Due 1 PFD 223622309 1,547 57,346 SH   SOLE   57,346 0 0
CubeSmart 7.75%CUM Call 11/2/2 PFD 229663208 562 21,324 SH   SOLE   21,324 0 0
DTE Energy 6.5% Jr Sub Call 12 PFD 233331602 1,481 57,560 SH   SOLE   57,560 0 0
Deutsche Bank 8.05% PrpCl6/18 PFD 25150l108 3,092 111,092 SH   SOLE   111,092 0 0
Deutsche Bk Tst6.55%Perp Cl 5/ PFD 25153x208 593 22,540 SH   SOLE   22,540 0 0
Deutsche Bnk 7.6% Prp Cl 2/18 PFD 25154a108 1,570 57,941 SH   SOLE   57,941 0 0
Digital Realty 6.625% Perp CUM PFD 253868806 442 17,434 SH   SOLE   17,434 0 0
Digital Realty 7.0% Perp Call PFD 253868707 3,598 140,769 SH   SOLE   140,769 0 0
Digital Realty 7.375% Perp CUM PFD 253868871 278 10,325 SH   SOLE   10,325 0 0
Discover Financial 6.50%Perp Q PFD 254709207 2,029 79,675 SH   SOLE   79,675 0 0
EaglePoint Credit 7.75%2022 CU PFD 269809109 803 32,020 SH   SOLE   32,020 0 0
Endurance Specialty 7.5% Cl 6/ PFD g30397304 2,483 95,624 SH   SOLE   95,624 0 0
Endurance Specialty 7.75% Cl12 PFD 29267h208 3,328 129,682 SH   SOLE   129,682 0 0
Equity Comwlth 7.25% CUM Perp/ PFD 294628409 552 21,636 SH   SOLE   21,636 0 0
EverBank Financial 6.75% Perp PFD 29977g201 283 11,285 SH   SOLE   11,285 0 0
Excel Trust 8.125%CUM CALLED 7 PFD 30068c307 1,833 73,039 SH   SOLE   73,039 0 0
First Republic 7.0% Cl 12/18 B PFD 33616c860 3,604 131,620 SH   SOLE   131,620 0 0
First Republic Bank 6.2% Cl 6/ PFD 33616c407 567 22,260 SH   SOLE   22,260 0 0
First Republic Bank 6.70% Cl20 PFD 33616c209 2,232 86,350 SH   SOLE   86,350 0 0
Five Oaks Investment 8.75%Perp PFD 33830w205 311 12,710 SH   SOLE   12,710 0 0
GaslLog Ltd 8.75% Ser A CUM QD PFD g37585117 602 23,500 SH   SOLE   23,500 0 0
General Growth Prop 6.375% Cl PFD 370023202 382 15,100 SH   SOLE   15,100 0 0
GoldmanSachs Lib+75 Min3.75% C PFD 38143y665 635 32,069 SH   SOLE   32,069 0 0
HSBC 6.36% Perp Callable NCU Q PFD 40429c607 742 29,519 SH   SOLE   29,519 0 0
HSBC Hldgs 8.0% Prp Cl 12/15 B PFD 404280802 4,448 171,785 SH   SOLE   171,785 0 0
Hanover Insurance6.35% Cl3/18 PFD 410867204 629 25,266 SH   SOLE   25,266 0 0
Hartford Finl 7.875% 2042 call PFD 416518504 1,384 46,550 SH   SOLE   46,550 0 0
Hatteras Financial 7.625% CUM PFD 41902r400 1,029 44,154 SH   SOLE   44,154 0 0
Hercules Technology 7% Pfd Cal PFD 427096870 344 13,600 SH   SOLE   13,600 0 0
Hudson Pacific 8.375% Perp N/R PFD 444097208 891 34,656 SH   SOLE   34,656 0 0
ING Groep NV 7 3/8% BB Called PFD 456837707 1,603 64,164 SH   SOLE   64,164 0 0
ING Grp NV 7.20%Pfd Perp/Cl l2 PFD 456837301 294 11,397 SH   SOLE   11,397 0 0
Investors REIT 7.95% Perp CUM PFD 461730301 1,360 53,614 SH   SOLE   53,614 0 0
JMP Group 8.00% SrDeb Due1/202 PFD 46629u206 386 15,307 SH   SOLE   15,307 0 0
JPMorgan Chase 6.70%Perp/Call PFD 48127a161 1,580 60,227 SH   SOLE   60,227 0 0
KKR Financial 7.375% Prp Call PFD 48248a603 320 12,261 SH   SOLE   12,261 0 0
KKR Financial 7.50% SrNts Call PFD 48248a504 5,250 199,617 SH   SOLE   199,617 0 0
KKR Financial 8.375%SrNts Call PFD 48248a405 1,452 53,970 SH   SOLE   53,970 0 0
Kimco Realty 6.90% Perp Call8/ PFD 49446r828 300 11,926 SH   SOLE   11,926 0 0
LaSalle Hotel 7.50% Perp CUM C PFD 517942702 2,112 83,278 SH   SOLE   83,278 0 0
M&T Bank 6.375% Cl 11/18 BBB- PFD 55261f708 532 529 SH   SOLE   529 0 0
MFA Financial 7.5% Prp Cl 4/15 PFD 55272x409 204 8,455 SH   SOLE   8,455 0 0
Maiden Hldgs 8.00% Nts 2042 ca PFD 56029q309 2,291 86,257 SH   SOLE   86,257 0 0
Maiden Hldgs 8.25% Nts 2041 ca PFD 56029q200 964 36,607 SH   SOLE   36,607 0 0
Maiden Holdings 8.25%Prp Cl8/2 PFD g5753u120 1,778 66,375 SH   SOLE   66,375 0 0
MetLife 3MoLibor+100 Min 4.0% PFD 59156r504 254 10,431 SH   SOLE   10,431 0 0
Morgan Stanley 3MoLib+70bp 4%F PFD 61747s504 498 24,075 SH   SOLE   24,075 0 0
Morgan Stanley 7.125%Flt Aftr1 PFD 61762v200 2,504 89,579 SH   SOLE   89,579 0 0
National General Ins 7.50% Cal PFD 636220808 3,151 125,938 SH   SOLE   125,938 0 0
National General Ins 7.50% Cal PFD 636220709 2,521 100,374 SH   SOLE   100,374 0 0
New York MtgTrust 7.875%Perp C PFD 649604808 369 15,400 SH   SOLE   15,400 0 0
News Corp 7.00% 12/1/2095 call PFD 863117206 278 11,003 SH   SOLE   11,003 0 0
NorthStar Realty Fin 8.50% CUM PFD 66705V209 329 13,208 SH   SOLE   13,208 0 0
NuStar Logistics 7.625%Nts Cl PFD 67059t204 1,181 44,578 SH   SOLE   44,578 0 0
Oxford Lane Cap8.125% Cl6/2017 PFD 691543409 247 9,830 SH   SOLE   9,830 0 0
Oxford Lane Capital 7.50% 6/20 PFD 691543300 204 8,470 SH   SOLE   8,470 0 0
PS Business Parks 6.0% Cl 5/20 PFD 69360j685 306 12,411 SH   SOLE   12,411 0 0
Partner Re 7.25% Call 06/21 BB PFD g68603508 5,678 218,719 SH   SOLE   218,719 0 0
Pebblebrook Hotel 8.00%Perp Cu PFD 70509v308 3,302 126,239 SH   SOLE   126,239 0 0
Pebblebrook Hotel7.875%Perp Cu PFD 70509v209 824 32,194 SH   SOLE   32,194 0 0
Penn Real Estate 8.25% CIM Per PFD 709102404 263 9,913 SH   SOLE   9,913 0 0
Penn RealEstate 7.375%CUM Perp PFD 709102503 645 24,338 SH   SOLE   24,338 0 0
Pitney Bowes 6.7% Cl 3/7/18 PFD 724479506 333 13,100 SH   SOLE   13,100 0 0
Prudential PLC 6.75% PrpCl 9/0 PFD g7293h114 730 28,528 SH   SOLE   28,528 0 0
Public Storage 6.35% Call 7/16 PFD 74460d125 742 29,205 SH   SOLE   29,205 0 0
Public Storage 6.5% Perp Call PFD 74460d158 287 11,300 SH   SOLE   11,300 0 0
Public Storage 6.50% Call 4/20 PFD 74460d141 1,326 52,170 SH   SOLE   52,170 0 0
Raymond James Financial 6.90% PFD 754730208 868 33,185 SH   SOLE   33,185 0 0
Realty Income 6.625% Call 2/17 PFD 756109807 297 11,500 SH   SOLE   11,500 0 0
Regency Centers 6.00% Perp CUM PFD 758849806 446 17,900 SH   SOLE   17,900 0 0
Regions Financial 6.375% Cl 12 PFD 7591ep308 424 16,850 SH   SOLE   16,850 0 0
Reinsurance Group of Amer 6.2% PFD 759351703 370 13,600 SH   SOLE   13,600 0 0
Retail Properties of Amer 7.0% PFD 76131v608 500 18,900 SH   SOLE   18,900 0 0
SL Green Realty 6.5% Perp CUM PFD 78440x507 2,197 85,274 SH   SOLE   85,274 0 0
Seaspan 8.25% Perp CUM QDI Cal PFD y75638133 1,553 61,595 SH   SOLE   61,595 0 0
Seaspan 9.50% 1/2049 Call 1/20 PFD B643v81 312 12,085 SH   SOLE   12,085 0 0
SoCalEd FltRate $100 1.45+30yr PFD 842400756 3,518 34,850 SH   SOLE   34,850 0 0
Solar Capital 6.75% Cl 11/17 PFD 83413u308 314 12,750 SH   SOLE   12,750 0 0
Southern Cal Ed 6.5% $100 Cl3/ PFD 842400723 695 6,640 SH   SOLE   6,640 0 0
Summit Hotel (INN)7.125%Perp C PFD 866082407 510 19,484 SH   SOLE   19,484 0 0
Summit Hotel 7.875% Perp CUM C PFD 866082308 2,189 81,841 SH   SOLE   81,841 0 0
Sunstone Hotel 8.00% Perp CUM PFD 867592507 1,108 42,180 SH   SOLE   42,180 0 0
Taubman Centers 6.5% CUM NA Cl PFD 876664608 246 9,751 SH   SOLE   9,751 0 0
Teekay Offshore 7.25%Perp CUM PFD y8565j127 666 32,628 SH   SOLE   32,628 0 0
Teekay Offshore 8.50%Perm Cum PFD Y8565j135 380 16,500 SH   SOLE   16,500 0 0
Telephone & Data 6.875% Cl 11/ PFD 879433845 3,347 134,900 SH   SOLE   134,900 0 0
Telephone & Data 7.0% Cl 3/16 PFD 879433837 850 33,896 SH   SOLE   33,896 0 0
TravelCenters America 8.00%SrN PFD 894174309 2,092 79,850 SH   SOLE   79,850 0 0
Triancgle Capital 6.375% Sr No PFD 895848406 875 34,050 SH   SOLE   34,050 0 0
Tsakos Energy 8.875%Perp CUM C PFD g9108l140 422 18,450 SH   SOLE   18,450 0 0
US Bancorp 6.5% Flt Aftr 1/22 PFD 902973833 1,537 54,460 SH   SOLE   54,460 0 0
US Celllular SrNts 7.25% 2063 PFD 911684504 475 18,900 SH   SOLE   18,900 0 0
US Cellular 6.95%SrNT 2060 Cl PFD 911684405 471 19,050 SH   SOLE   19,050 0 0
VEREIT Inc 6.70% Perp CUM Cl 2 PFD 92339v209 322 13,423 SH   SOLE   13,423 0 0
Vornado Realty 5.7% Prp Cl 7/1 PFD 929042851 280 11,780 SH   SOLE   11,780 0 0
Vornado Realty 6.875% Prp/Cl 4 PFD 929042869 3,159 123,225 SH   SOLE   123,225 0 0
Wells Fargo 6.375% Cl 12/19 BB PFD 94988n207 660 25,800 SH   SOLE   25,800 0 0
Wells Fargo 7.5% Cnv/Prp$1000 PFD 949746804 11,806 10,047 SH   SOLE   10,047 0 0
Wells Fargo 8.00% Prp Cl12/17 PFD 949746879 12,270 435,107 SH   SOLE   435,107 0 0
Charles Schwab 7% Perp/Call 2/ PFD 808513AE5 2,267 1,967,000 PRN   SOLE   1,967,000 0 0
Citigroup Inc 5.95% Perp Call PFD 172967GD7 484 495,000 PRN   SOLE   495,000 0 0
GE Cap Corp 6.25% Perp/Call 12 PFD 369622SP1 383 350,000 PRN   SOLE   350,000 0 0
GE Cap Corp 7.125% Perp/Call 6 PFD 369622SN6 2,237 1,945,000 PRN   SOLE   1,945,000 0 0
JPMorgan 6.0% Perp/Call 8/23 - PFD 48126HAA8 427 430,000 PRN   SOLE   430,000 0 0
JPMorgan 7.9% Perp/Call 4/18 - PFD 46625HHA1 2,464 2,330,000 PRN   SOLE   2,330,000 0 0
So. Cal Edison 6.25% Perp/Call PFD 842400FU2 1,045 950,000 PRN   SOLE   950,000 0 0
Wachovia (WFC) Perp/Call 2/11 PFD 92978AAA0 5,396 5,520,000 PRN   SOLE   5,520,000 0 0
Wells Fargo & Company Perp/Cal PFD 949746PM7 498 460,000 PRN   SOLE   460,000 0 0