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 320 10 SH   SOLE   10 0 0
3M Company COM 88579y101 23,755 112,736 SH   SOLE   112,736 0 0
ABB Ltd-Spon ADR COM 000375204 398 16,832 SH   SOLE   16,832 0 0
AT&T Inc COM 00206r102 1,913 56,957 SH   SOLE   56,957 0 0
AbbVie Inc COM 00287y109 13,066 138,152 SH   SOLE   138,152 0 0
Abbott Laboratories COM 002824100 14,207 193,668 SH   SOLE   193,668 0 0
Accenture PLC-Cl A COM g1151c101 5,309 31,190 SH   SOLE   31,190 0 0
Adobe Inc COM 00724f101 1,703 6,308 SH   SOLE   6,308 0 0
Aetna Inc COM 00817Y108 2,125 10,478 SH   SOLE   10,478 0 0
Aflac Inc COM 001055102 1,419 30,139 SH   SOLE   30,139 0 0
Agilent Technologies Inc COM 00846u101 1,122 15,899 SH   SOLE   15,899 0 0
Air Products & Chemicals Inc COM 009158106 8,649 51,777 SH   SOLE   51,777 0 0
Alibaba Group Holding-SP ADR COM 01609w102 479 2,910 SH   SOLE   2,910 0 0
Allergan plc (new) COM g0177j108 7,650 40,163 SH   SOLE   40,163 0 0
Allstate Corp COM 020002101 516 5,229 SH   SOLE   5,229 0 0
Alphabet Inc-Cl A COM 02079k305 13,090 10,844 SH   SOLE   10,844 0 0
Alphabet Inc-Cl C COM 02079k107 6,459 5,412 SH   SOLE   5,412 0 0
Altaba Inc COM 021346101 1,184 17,388 SH   SOLE   17,388 0 0
Altria Group Inc COM 02209s103 3,278 54,351 SH   SOLE   54,351 0 0
Amazon.com Inc COM 023135106 20,491 10,230 SH   SOLE   10,230 0 0
American Electric Power COM 025537101 478 6,740 SH   SOLE   6,740 0 0
American Express Co COM 025816109 1,763 16,555 SH   SOLE   16,555 0 0
AmerisourceBergen Corp COM 03073e105 202 2,186 SH   SOLE   2,186 0 0
Amgen Inc COM 031162100 7,833 37,787 SH   SOLE   37,787 0 0
Anthem Inc COM 036752103 3,019 11,017 SH   SOLE   11,017 0 0
Apple Inc COM 037833100 57,390 254,230 SH   SOLE   254,230 0 0
Applied Materials Inc COM 038222105 229 5,926 SH   SOLE   5,926 0 0
Archer-Daniels-Midland Co COM 039483102 833 16,577 SH   SOLE   16,577 0 0
Automatic Data Processing COM 053015103 27,340 181,469 SH   SOLE   181,469 0 0
BP PLC-Spons ADR COM 055622104 274 5,941 SH   SOLE   5,941 0 0
Bank Of Marin Bancorp/CA COM 063425102 998 11,894 SH   SOLE   11,894 0 0
Bank Of New York Mellon Corp COM 064058100 241 4,719 SH   SOLE   4,719 0 0
Bank of America Corp COM 060505104 8,891 301,803 SH   SOLE   301,803 0 0
Baxter International Inc. COM 071813109 562 7,287 SH   SOLE   7,287 0 0
Becton Dickinson & Co COM 075887109 3,657 14,010 SH   SOLE   14,010 0 0
Berkshire Hathaway Inc-Cl B COM 084670702 4,544 21,222 SH   SOLE   21,222 0 0
Biogen Inc COM 09062x103 1,448 4,099 SH   SOLE   4,099 0 0
Blackrock Inc COM 09247x101 466 988 SH   SOLE   988 0 0
Blackstone Group/The COM 09253u108 526 13,814 SH   SOLE   13,814 0 0
Boeing Co COM 097023105 13,263 35,662 SH   SOLE   35,662 0 0
Bristol-Myers Squibb Co COM 110122108 11,411 183,805 SH   SOLE   183,805 0 0
Broadcom Inc COM 11135f101 816 3,308 SH   SOLE   3,308 0 0
CBS Corp Class B COM 124857202 283 4,924 SH   SOLE   4,924 0 0
CSX Corp COM 126408103 321 4,330 SH   SOLE   4,330 0 0
CVS Health Corp COM 126650100 2,138 27,161 SH   SOLE   27,161 0 0
CarMax Inc COM 143130102 261 3,500 SH   SOLE   3,500 0 0
Caterpillar Inc COM 149123101 4,660 30,562 SH   SOLE   30,562 0 0
Celgene Corp COM 151020104 295 3,299 SH   SOLE   3,299 0 0
CenterPoint Energy Inc COM 15189t107 416 15,039 SH   SOLE   15,039 0 0
Cerner Corp COM 156782104 2,523 39,171 SH   SOLE   39,171 0 0
Check Point Software Tech COM m22465104 1,502 12,762 SH   SOLE   12,762 0 0
Chevron Corp COM 166764100 28,925 236,547 SH   SOLE   236,547 0 0
Chubb Ltd (new) COM h1467j104 907 6,786 SH   SOLE   6,786 0 0
Cigna Corp COM 125509109 414 1,986 SH   SOLE   1,986 0 0
Cincinnati Financial Corp COM 172062101 486 6,328 SH   SOLE   6,328 0 0
Cintas Corp COM 172908105 673 3,402 SH   SOLE   3,402 0 0
Cisco Systems Inc COM 17275R102 8,642 177,640 SH   SOLE   177,640 0 0
Citigroup Inc COM 172967424 615 8,577 SH   SOLE   8,577 0 0
Clorox Company COM 189054109 15,896 105,682 SH   SOLE   105,682 0 0
Coca-Cola Co/The COM 191216100 1,771 38,350 SH   SOLE   38,350 0 0
Colgate-Palmolive Co COM 194162103 7,453 111,315 SH   SOLE   111,315 0 0
Comcast Corp-Cl A COM 20030n101 909 25,661 SH   SOLE   25,661 0 0
Conagra Brands Inc COM 205887102 607 17,857 SH   SOLE   17,857 0 0
ConocoPhillips COM 20825C104 4,633 59,854 SH   SOLE   59,854 0 0
Consolidated Edison Inc COM 209115104 508 6,666 SH   SOLE   6,666 0 0
Costco Wholesale Corp COM 22160K105 28,162 119,897 SH   SOLE   119,897 0 0
Crown Castle Intl Corp COM 22822v101 18,210 163,568 SH   SOLE   163,568 0 0
Danaher Corp COM 235851102 6,233 57,360 SH   SOLE   57,360 0 0
Deere & Co COM 244199105 1,550 10,313 SH   SOLE   10,313 0 0
Diageo Plc-Sponsored ADR COM 25243q205 530 3,743 SH   SOLE   3,743 0 0
Dick's Sporting Goods Inc COM 253393102 305 8,588 SH   SOLE   8,588 0 0
Disney Co./Walt The COM 254687106 17,646 150,898 SH   SOLE   150,898 0 0
Dominion Resources Inc/Va COM 25746u109 485 6,903 SH   SOLE   6,903 0 0
Dover Corp COM 260003108 710 8,025 SH   SOLE   8,025 0 0
DowDuPont Inc COM 26078j100 9,647 150,013 SH   SOLE   150,013 0 0
Duke Energy Corp COM 26441c204 502 6,269 SH   SOLE   6,269 0 0
Eaton Corp PLC COM g29183103 869 10,017 SH   SOLE   10,017 0 0
Ecolab Inc COM 278865100 16,144 102,974 SH   SOLE   102,974 0 0
Edison International COM 281020107 8,828 130,441 SH   SOLE   130,441 0 0
Edwards Lifesciences Corp COM 28176e108 365 2,096 SH   SOLE   2,096 0 0
Electronic Arts Inc COM 285512109 480 3,987 SH   SOLE   3,987 0 0
Eli Lilly & Co COM 532457108 3,107 28,953 SH   SOLE   28,953 0 0
Emerson Electric Co COM 291011104 1,878 24,528 SH   SOLE   24,528 0 0
Enbridge Inc COM 29250n105 347 10,732 SH   SOLE   10,732 0 0
Encounter Technologies Inc COM 29259j303 0 62,000 SH   SOLE   62,000 0 0
Enterprise Products Partners COM 293792107 281 9,784 SH   SOLE   9,784 0 0
Essex Property Trust Inc COM 297178105 1,121 4,545 SH   SOLE   4,545 0 0
Eurasian Minerals Inc COM 29843r100 65 53,000 SH   SOLE   53,000 0 0
Evergy Inc COM 30034w106 474 8,625 SH   SOLE   8,625 0 0
Eversource Energy COM 30040w108 287 4,674 SH   SOLE   4,674 0 0
Express Scripts Holding Co. COM 30219g108 392 4,127 SH   SOLE   4,127 0 0
Exxon Mobil Corp COM 30231G102 7,961 93,632 SH   SOLE   93,632 0 0
Facebook Inc COM 30303m102 1,279 7,776 SH   SOLE   7,776 0 0
FactSet Research Systems Inc COM 303075105 214 955 SH   SOLE   955 0 0
Fanhua Inc-Sponsored ADR COM 30712a103 362 13,404 SH   SOLE   13,404 0 0
FedEx Corp COM 31428x106 875 3,634 SH   SOLE   3,634 0 0
Finisar Corporation COM 31787a507 191 10,000 SH   SOLE   10,000 0 0
First Republic Bank/San Franci COM 33616C100 9,787 101,952 SH   SOLE   101,952 0 0
First Trust Mid Cap Growth Alp COM 33737m102 3,047 65,831 SH   SOLE   65,831 0 0
First Trust Mid Cap Value ETF COM 33737m201 323 8,783 SH   SOLE   8,783 0 0
First Trust Morningstar Divide COM 336917109 721 24,175 SH   SOLE   24,175 0 0
Ford Motor Co COM 345370860 101 10,905 SH   SOLE   10,905 0 0
Fortinet Inc COM 34959e109 862 9,340 SH   SOLE   9,340 0 0
Fortive Corp COM 34959j108 259 3,071 SH   SOLE   3,071 0 0
General Dynamics Corp COM 369550108 3,640 17,781 SH   SOLE   17,781 0 0
General Electric Co COM 369604103 1,061 94,006 SH   SOLE   94,006 0 0
Genuine Parts Co COM 372460105 7,666 77,126 SH   SOLE   77,126 0 0
Gilead Sciences Inc COM 375558103 618 8,008 SH   SOLE   8,008 0 0
Goldman Sach Active Beta US La COM 381430503 749 12,746 SH   SOLE   12,746 0 0
Goldman Sachs Group Inc COM 38141G104 600 2,677 SH   SOLE   2,677 0 0
HCP Inc REIT COM 40414l109 429 16,302 SH   SOLE   16,302 0 0
Home Depot Inc COM 437076102 25,370 122,473 SH   SOLE   122,473 0 0
Honeywell International Inc COM 438516106 6,219 37,372 SH   SOLE   37,372 0 0
Hormel Foods Corp COM 440452100 377 9,575 SH   SOLE   9,575 0 0
IDEXX Laboratories Inc COM 45168d104 241 965 SH   SOLE   965 0 0
Illinois Tool Works COM 452308109 462 3,271 SH   SOLE   3,271 0 0
Ingersoll-Rand PLC COM g47791101 1,810 17,692 SH   SOLE   17,692 0 0
Intel Corp COM 458140100 17,395 367,839 SH   SOLE   367,839 0 0
Intl Business Machines Corp COM 459200101 2,189 14,477 SH   SOLE   14,477 0 0
Intl Flavors & Fragrances COM 459506101 870 6,250 SH   SOLE   6,250 0 0
Intuitive Surgical Inc COM 46120e602 530 924 SH   SOLE   924 0 0
Invesco KBW Regional Bank ETF COM 46138e578 1,452 26,025 SH   SOLE   26,025 0 0
Invesco Preferred ETF COM 46138e511 12,288 858,129 SH   SOLE   858,129 0 0
Invesco QQQ NASDAQ 100 Trust COM 46090e103 5,820 31,325 SH   SOLE   31,325 0 0
Invesco S&P Equal Weight COM 46137v357 816 7,642 SH   SOLE   7,642 0 0
Invesco S&P Equal Weight Finan COM 46137v340 237 5,509 SH   SOLE   5,509 0 0
Invesco S&P Top 50 COM 46137v233 1,447 6,918 SH   SOLE   6,918 0 0
Iron Mountain Inc COM 46284v101 203 5,873 SH   SOLE   5,873 0 0
Ivanhoe Mines Ltd COM 46579r104 511 240,000 SH   SOLE   240,000 0 0
JPMorgan Chase & Co COM 46625H100 14,843 131,542 SH   SOLE   131,542 0 0
JPMorgan US Large Cap Diversif COM 46641q407 1,593 21,376 SH   SOLE   21,376 0 0
Jacobs Engineering Group Inc COM 469814107 436 5,703 SH   SOLE   5,703 0 0
Johnson & Johnson COM 478160104 29,405 212,820 SH   SOLE   212,820 0 0
Johnson Controls Intl PLC COM g51502105 203 5,806 SH   SOLE   5,806 0 0
Kalytera Therapeutics Inc COM 48349p103 1 10,000 SH   SOLE   10,000 0 0
Keysight Technologies Inc COM 49338l103 503 7,584 SH   SOLE   7,584 0 0
Kimberly-Clark Corp COM 494368103 12,060 106,127 SH   SOLE   106,127 0 0
Kinder Morgan Inc COM 49456b101 209 11,770 SH   SOLE   11,770 0 0
Kraft Heinz Co/The COM 500754106 203 3,684 SH   SOLE   3,684 0 0
L3 Technologies Inc COM 502413107 3,258 15,322 SH   SOLE   15,322 0 0
Laboratory Corp Of Amer Hldgs COM 50540r409 2,467 14,205 SH   SOLE   14,205 0 0
Lam Research Corp COM 512807108 377 2,484 SH   SOLE   2,484 0 0
Lamb Weston Holdings Inc COM 513272104 313 4,694 SH   SOLE   4,694 0 0
Lennar Corp-Cl A COM 526057104 829 17,758 SH   SOLE   17,758 0 0
Lockheed Martin Corp COM 539830109 6,538 18,899 SH   SOLE   18,899 0 0
Lowe's Cos Inc COM 548661107 5,075 44,204 SH   SOLE   44,204 0 0
Lululemon Athletica Inc COM 550021109 1,410 8,675 SH   SOLE   8,675 0 0
Marathon Petroleum Corp COM 56585a102 505 6,309 SH   SOLE   6,309 0 0
Marriott International-Cl A COM 571903202 2,782 21,073 SH   SOLE   21,073 0 0
Masimo Corporation COM 574795100 301 2,415 SH   SOLE   2,415 0 0
MasterCard Inc-Class A COM 57636q104 341 1,533 SH   SOLE   1,533 0 0
McCormick & Co-Non Votung Shrs COM 579780206 2,723 20,669 SH   SOLE   20,669 0 0
McDonald's Corp COM 580135101 14,953 89,385 SH   SOLE   89,385 0 0
McKesson Corp COM 58155q103 776 5,850 SH   SOLE   5,850 0 0
Medical Properties Trust Inc COM 58463j304 185 12,429 SH   SOLE   12,429 0 0
Medtronic PLC COM g5960l103 8,857 90,042 SH   SOLE   90,042 0 0
Merck & Co. Inc. COM 58933y105 3,246 45,763 SH   SOLE   45,763 0 0
Microsoft Corp COM 594918104 39,080 341,697 SH   SOLE   341,697 0 0
Mondelez International COM 609207105 1,072 24,955 SH   SOLE   24,955 0 0
Morgan Stanley COM 617446448 2,300 49,383 SH   SOLE   49,383 0 0
Motorola Solutions Inc COM 620076307 375 2,885 SH   SOLE   2,885 0 0
NVIDIA Corp COM 67066g104 4,973 17,698 SH   SOLE   17,698 0 0
NXP Semiconductors Nv COM n6596x109 501 5,858 SH   SOLE   5,858 0 0
Nestle Sa-Spons ADR For Reg COM 641069406 696 8,368 SH   SOLE   8,368 0 0
NextEra Energy Inc COM 65339f101 18,404 109,809 SH   SOLE   109,809 0 0
Nike Inc -Cl B COM 654106103 14,824 174,982 SH   SOLE   174,982 0 0
Norfolk Southern Corp COM 655844108 415 2,300 SH   SOLE   2,300 0 0
Novartis Ag-ADR COM 66987v109 555 6,438 SH   SOLE   6,438 0 0
O'Reilly Automotive Inc COM 67103h107 301 866 SH   SOLE   866 0 0
ONEOK Inc COM 682680103 283 4,168 SH   SOLE   4,168 0 0
Occidental Petroleum Corp COM 674599105 2,649 32,243 SH   SOLE   32,243 0 0
Oracle Corp COM 68389x105 2,813 54,554 SH   SOLE   54,554 0 0
Parker-Hannifin Corp COM 701094104 322 1,748 SH   SOLE   1,748 0 0
PayPal Holdings Inc COM 70450y103 687 7,820 SH   SOLE   7,820 0 0
Paychex Inc COM 704326107 222 3,021 SH   SOLE   3,021 0 0
Penske Automotive Group, Inc COM 70959w103 275 5,797 SH   SOLE   5,797 0 0
PepsiCo Inc COM 713448108 5,338 47,744 SH   SOLE   47,744 0 0
Pfizer Inc COM 717081103 6,891 156,366 SH   SOLE   156,366 0 0
Philip Morris International COM 718172109 1,050 12,882 SH   SOLE   12,882 0 0
Phillips 66 COM 718546104 230 2,040 SH   SOLE   2,040 0 0
Plains GP Holdings LP COM 72651a207 245 10,000 SH   SOLE   10,000 0 0
Praxair Inc (Acquired) COM 74005p104 2,947 18,334 SH   SOLE   18,334 0 0
Preferred Apartment Communitie COM 74039l103 8,150 463,620 SH   SOLE   463,620 0 0
ProLogis Inc COM 74340w103 711 10,483 SH   SOLE   10,483 0 0
Procter & Gamble Co COM 742718109 16,352 196,470 SH   SOLE   196,470 0 0
Public Service Enterprise Grou COM 744573106 3,375 63,926 SH   SOLE   63,926 0 0
Putnam Premier Income Trust COM 746853100 75 14,293 SH   SOLE   14,293 0 0
Qualcomm Inc COM 747525103 593 8,238 SH   SOLE   8,238 0 0
Quest Diagnostics COM 74834l100 296 2,745 SH   SOLE   2,745 0 0
Raytheon Company COM 755111507 5,293 25,612 SH   SOLE   25,612 0 0
Realty Income Corp COM 756109104 11,570 203,378 SH   SOLE   203,378 0 0
Roche Holdings LTD-Spons ADR COM 771195104 1,913 63,417 SH   SOLE   63,417 0 0
Rockwell Automation Inc COM 773903109 447 2,383 SH   SOLE   2,383 0 0
Rockwell Collins Inc. COM 774341101 1,010 7,190 SH   SOLE   7,190 0 0
Roper Technologies Inc COM 776696106 303 1,024 SH   SOLE   1,024 0 0
Ross Stores Inc COM 778296103 218 2,196 SH   SOLE   2,196 0 0
Royal Dutch Shell Plc-ADR A COM 780259206 736 10,803 SH   SOLE   10,803 0 0
S&P Global Inc COM 78409v104 1,804 9,235 SH   SOLE   9,235 0 0
SAP SE-Sponsored ADR COM 803054204 701 5,698 SH   SOLE   5,698 0 0
SPDR Communication Services Se COM 81369y852 22,578 460,774 SH   SOLE   460,774 0 0
SPDR Consumer Discretionary Se COM 81369y407 42,763 364,810 SH   SOLE   364,810 0 0
SPDR Consumer Staples Select S COM 81369y308 18,148 336,516 SH   SOLE   336,516 0 0
SPDR Dow Jones Industrial Aver COM 78467x109 1,473 5,571 SH   SOLE   5,571 0 0
SPDR Energy Select Sector COM 81369y506 23,046 304,274 SH   SOLE   304,274 0 0
SPDR Financial Select Sector COM 81369y605 29,974 1,086,816 SH   SOLE   1,086,816 0 0
SPDR Gold Trust COM 78463v107 1,343 11,913 SH   SOLE   11,913 0 0
SPDR Health Care Select Sector COM 81369y209 34,433 361,883 SH   SOLE   361,883 0 0
SPDR Industrial Select Sector COM 81369y704 25,607 326,622 SH   SOLE   326,622 0 0
SPDR Materials Select Sector COM 81369y100 7,279 125,652 SH   SOLE   125,652 0 0
SPDR NYSE Technology ETF COM 78464a102 979 10,363 SH   SOLE   10,363 0 0
SPDR Real Estate Sector COM 81369y860 210 6,441 SH   SOLE   6,441 0 0
SPDR S&P 500 Index Trust Serie COM 78462f103 9,483 32,619 SH   SOLE   32,619 0 0
SPDR S&P Aerospace & Defense E COM 78464a631 678 6,813 SH   SOLE   6,813 0 0
SPDR S&P Biotech ETF COM 78464a870 547 5,710 SH   SOLE   5,710 0 0
SPDR S&P Dividend COM 78464a763 12,199 124,567 SH   SOLE   124,567 0 0
SPDR S&P MidCap 400 ETF Trust COM 78467y107 12,012 32,689 SH   SOLE   32,689 0 0
SPDR S&P Regional Banking COM 78464a698 2,892 48,668 SH   SOLE   48,668 0 0
SPDR Technology Select Sector COM 81369y803 87,199 1,157,554 SH   SOLE   1,157,554 0 0
SPDR Utilities Select Sector COM 81369y886 1,935 36,757 SH   SOLE   36,757 0 0
Salesforce.Com Inc COM 79466l302 5,967 37,519 SH   SOLE   37,519 0 0
Schlumberger Ltd COM 806857108 229 3,760 SH   SOLE   3,760 0 0
Schwab (Charles) Corp COM 808513105 1,315 26,761 SH   SOLE   26,761 0 0
Schwab US Broad Market ETF COM 808524102 2,582 36,677 SH   SOLE   36,677 0 0
Schwab US Dividend Equity ETF COM 808524797 5,385 101,612 SH   SOLE   101,612 0 0
Schwab US Large-Cap ETF COM 808524201 2,293 32,959 SH   SOLE   32,959 0 0
Schwab US Mid-Cap ETF COM 808524508 1,734 29,972 SH   SOLE   29,972 0 0
Schwab US REIT ETF COM 808524847 1,992 47,734 SH   SOLE   47,734 0 0
Sempra Energy COM 816851109 3,535 31,073 SH   SOLE   31,073 0 0
Sherwin Williams Co COM 824348106 988 2,171 SH   SOLE   2,171 0 0
Southern Co COM 842587107 948 21,741 SH   SOLE   21,741 0 0
Spectral Medical Inc COM 847577103 6 25,000 SH   SOLE   25,000 0 0
Stanley Black & Decker Inc COM 854502101 6,539 44,656 SH   SOLE   44,656 0 0
Starbucks Corp COM 855244109 7,754 136,426 SH   SOLE   136,426 0 0
State Street Corp COM 857477103 311 3,715 SH   SOLE   3,715 0 0
Stryker Corp COM 863667101 227 1,276 SH   SOLE   1,276 0 0
Sysco Corp COM 871829107 1,254 17,115 SH   SOLE   17,115 0 0
T Rowe Price Group Inc COM 74144t108 549 5,026 SH   SOLE   5,026 0 0
TJX Companies Inc COM 872540109 518 4,629 SH   SOLE   4,629 0 0
Taiwan Semiconductor-Sp ADR COM 874039100 352 7,975 SH   SOLE   7,975 0 0
Target Corp COM 87612e106 962 10,902 SH   SOLE   10,902 0 0
Tesla Inc COM 88160r101 743 2,805 SH   SOLE   2,805 0 0
Texas Instruments Inc COM 882508104 663 6,182 SH   SOLE   6,182 0 0
Thermo Fisher Scientific Inc COM 883556102 1,014 4,153 SH   SOLE   4,153 0 0
Toronto Dominion Bank COM 891160509 3,150 51,804 SH   SOLE   51,804 0 0
Total S A -Spon ADR COM 89151e109 432 6,712 SH   SOLE   6,712 0 0
Toyota Motor Corp -Spon ADR COM 892331307 568 4,571 SH   SOLE   4,571 0 0
Travelers Cos Inc/The COM 89417e109 3,060 23,590 SH   SOLE   23,590 0 0
Tri-Valley Corporation COM 895735108 0 30,600 SH   SOLE   30,600 0 0
U S Bancorp COM 902973304 6,765 128,096 SH   SOLE   128,096 0 0
UDR Inc COM 902653104 263 6,500 SH   SOLE   6,500 0 0
Unilever N V -NY Shares COM 904784709 3,016 54,301 SH   SOLE   54,301 0 0
Unilever Plc-Sponsored ADR COM 904767704 1,352 24,593 SH   SOLE   24,593 0 0
Union Pacific Corp COM 907818108 2,310 14,190 SH   SOLE   14,190 0 0
United Parcel Service-Cl B COM 911312106 10,621 90,974 SH   SOLE   90,974 0 0
United Technologies Corp COM 913017109 2,727 19,508 SH   SOLE   19,508 0 0
UnitedHealth Group Inc COM 91324P102 2,646 9,946 SH   SOLE   9,946 0 0
VF Corporation COM 918204108 542 5,797 SH   SOLE   5,797 0 0
Valero Energy Corp COM 91913Y100 1,343 11,806 SH   SOLE   11,806 0 0
VanEck Vectors Pharmaceutical COM 92189f692 393 6,103 SH   SOLE   6,103 0 0
Vanguard Communication Service COM 92204a884 4,932 56,685 SH   SOLE   56,685 0 0
Vanguard Consumer Discretionar COM 92204a108 2,103 11,654 SH   SOLE   11,654 0 0
Vanguard Consumer Staples Vipe COM 92204a207 1,544 11,021 SH   SOLE   11,021 0 0
Vanguard Developed Mkts COM 921943858 892 20,625 SH   SOLE   20,625 0 0
Vanguard Dividend Appreciation COM 921908844 919 8,303 SH   SOLE   8,303 0 0
Vanguard Energy ETF COM 92204a306 945 8,987 SH   SOLE   8,987 0 0
Vanguard European Vipers COM 922042874 543 9,650 SH   SOLE   9,650 0 0
Vanguard Financials Vipers COM 92204a405 1,962 28,279 SH   SOLE   28,279 0 0
Vanguard Health Care Vipers COM 92204a504 1,907 10,568 SH   SOLE   10,568 0 0
Vanguard High Div Yield COM 921946406 2,994 34,375 SH   SOLE   34,375 0 0
Vanguard Industrials COM 92204a603 1,389 9,402 SH   SOLE   9,402 0 0
Vanguard Info Tech Vipers COM 92204a702 4,733 23,368 SH   SOLE   23,368 0 0
Vanguard Large-Cap Vipers ETF COM 922908637 248 1,855 SH   SOLE   1,855 0 0
Vanguard Materials Vipers COM 92204a801 418 3,186 SH   SOLE   3,186 0 0
Vanguard Mega Cap 300 Growth E COM 921910816 332 2,590 SH   SOLE   2,590 0 0
Vanguard Mid-Cap COM 922908629 2,677 16,302 SH   SOLE   16,302 0 0
Vanguard REIT COM 922908553 322 3,986 SH   SOLE   3,986 0 0
Vanguard Small-Cap Vipers COM 922908751 2,195 13,500 SH   SOLE   13,500 0 0
Vanguard Total Stock Market COM 922908769 19,503 130,324 SH   SOLE   130,324 0 0
Vanguard Utilities Vipers COM 92204a876 959 8,140 SH   SOLE   8,140 0 0
Vanguard Value Vipers COM 922908744 266 2,403 SH   SOLE   2,403 0 0
Varian Medical Systems Inc COM 92220P105 2,397 21,419 SH   SOLE   21,419 0 0
Verisk Analytics Inc-Class A COM 92345Y106 912 7,565 SH   SOLE   7,565 0 0
Verizon Communications Inc COM 92343v104 24,206 453,372 SH   SOLE   453,372 0 0
Visa Inc-Class A Shares COM 92826c839 12,552 83,628 SH   SOLE   83,628 0 0
Vornado Realty Trust COM 929042109 5,285 72,393 SH   SOLE   72,393 0 0
Voya Prime Rate Trust COM 92913a100 411 82,615 SH   SOLE   82,615 0 0
WEC Energy Group Inc COM 92939u106 3,031 45,398 SH   SOLE   45,398 0 0
Wal-Mart Stores Inc COM 931142103 3,972 42,301 SH   SOLE   42,301 0 0
Walgreens Boots Alliance Inc COM 931427108 10,796 148,096 SH   SOLE   148,096 0 0
Waste Management Inc COM 94106l109 18,206 201,479 SH   SOLE   201,479 0 0
Wells Fargo & Company COM 949746101 27,125 516,068 SH   SOLE   516,068 0 0
Westamerica Bancorportaion COM 957090103 506 8,413 SH   SOLE   8,413 0 0
Weyerhaeuser Co COM 962166104 243 7,523 SH   SOLE   7,523 0 0
White Mountains Insurance Grou COM g9618e107 620 663 SH   SOLE   663 0 0
Williams Cos Inc COM 969457100 434 15,953 SH   SOLE   15,953 0 0
Williams-Sonoma Inc COM 969904101 2,284 34,750 SH   SOLE   34,750 0 0
WisdomTree MidCap Div Index COM 97717w505 231 6,256 SH   SOLE   6,256 0 0
Workday Inc-Class A COM 98138h101 867 5,938 SH   SOLE   5,938 0 0
Xcel Energy Inc COM 98389b100 253 5,356 SH   SOLE   5,356 0 0
Xylem Inc COM 98419m100 268 3,360 SH   SOLE   3,360 0 0
Yum! Brands Inc COM 988498101 255 2,808 SH   SOLE   2,808 0 0
Zebra Technologies Corp-Cl A COM 989207105 248 1,400 SH   SOLE   1,400 0 0
Zimmer Biomet Holdings Inc COM 98956p102 4,575 34,802 SH   SOLE   34,802 0 0
iShares Barclays Agg Bond COM 464287226 525 4,975 SH   SOLE   4,975 0 0
iShares Core Dividend Growth COM 46434v621 1,398 37,726 SH   SOLE   37,726 0 0
iShares DJ Select Dividend Ind COM 464287168 8,383 84,033 SH   SOLE   84,033 0 0
iShares DJ US Energy Sector COM 464287796 888 21,159 SH   SOLE   21,159 0 0
iShares DJ US Financial Sect COM 464287788 1,428 11,756 SH   SOLE   11,756 0 0
iShares DJ US Health Car Pro COM 464288828 412 2,059 SH   SOLE   2,059 0 0
iShares DJ US Medical Device COM 464288810 394 1,730 SH   SOLE   1,730 0 0
iShares DJ US Transport Index COM 464287192 2,073 10,136 SH   SOLE   10,136 0 0
iShares FTSE/Xinhua China 25 COM 464287184 212 4,960 SH   SOLE   4,960 0 0
iShares Goldman Sachs Tech I COM 464287721 578 2,979 SH   SOLE   2,979 0 0
iShares MSCI EAFE Index COM 464287465 1,361 20,018 SH   SOLE   20,018 0 0
iShares MSCI USA Quality Facto COM 46432f339 1,133 12,538 SH   SOLE   12,538 0 0
iShares Nasdaq Biotech Index F COM 464287556 6,946 56,959 SH   SOLE   56,959 0 0
iShares Russell 1000 Growth COM 464287614 1,023 6,561 SH   SOLE   6,561 0 0
iShares Russell 1000 Value COM 464287598 643 5,082 SH   SOLE   5,082 0 0
iShares Russell 2000 Index Fun COM 464287655 469 2,780 SH   SOLE   2,780 0 0
iShares Russell Midcap Value COM 464287473 215 2,380 SH   SOLE   2,380 0 0
iShares S&P 100 Index Fund COM 464287101 2,533 19,539 SH   SOLE   19,539 0 0
iShares S&P 500 Index Fund COM 464287200 7,197 24,585 SH   SOLE   24,585 0 0
iShares S&P 500 Value Index Fu COM 464287408 232 2,000 SH   SOLE   2,000 0 0
iShares S&P Europe 350 COM 464287861 453 10,040 SH   SOLE   10,040 0 0
iShares S&P Global 100 COM 464287572 809 16,582 SH   SOLE   16,582 0 0
iShares S&P MidCap 400/Growth COM 464287606 262 1,123 SH   SOLE   1,123 0 0
iShares S&P Midcap 400 COM 464287507 1,901 9,442 SH   SOLE   9,442 0 0
iShares S&P Midcap 400/Value COM 464287705 624 3,727 SH   SOLE   3,727 0 0
iShares S&P North American Tec COM 464287515 288 1,406 SH   SOLE   1,406 0 0
iShares S&P SmallCap 600 COM 464287804 620 7,110 SH   SOLE   7,110 0 0
iShares S&P US Preferred Stock COM 464288687 4,920 132,501 SH   SOLE   132,501 0 0
nVent Electric PLC COM g6700g107 217 8,008 SH   SOLE   8,008 0 0
AGNC Investment Corp 7.75- Per PFD 00123q302 1,132 44,372 SH   SOLE   44,372 0 0
AON Cap 8.205- 1/27 Non-Call B PFD 22532r101 1,765 58,244 SH   SOLE   58,244 0 0
AllState 6.75 Called 10/15/18 PFD 020002606 217 8,696 SH   SOLE   8,696 0 0
Allied Capital ARCC6.875- 4/20 PFD 01903q207 236 9,245 SH   SOLE   9,245 0 0
Ally 8.125- Call CUM Call 5/17 PFD 361860208 216 8,200 SH   SOLE   8,200 0 0
American Homes 4Rent 6.50- Per PFD 02665t702 610 24,420 SH   SOLE   24,420 0 0
Amtrust Financial 7.5- QDI Cal PFD 032359887 415 21,916 SH   SOLE   21,916 0 0
Amtrust Financial 7.625-CUM QD PFD 032359705 787 42,066 SH   SOLE   42,066 0 0
Amtrust Financial 7.75- QDI Ca PFD 032359846 681 34,382 SH   SOLE   34,382 0 0
Annaly Capital6.50-CUM Fix-Flo PFD 035710862 255 10,553 SH   SOLE   10,553 0 0
Apollo Cmmrl Real Est 8.00- CU PFD 03762u501 514 20,331 SH   SOLE   20,331 0 0
Arbor Realty 8.50- CUM Perp Ca PFD 038923801 235 9,042 SH   SOLE   9,042 0 0
Argo Group 6.5- Sr Notes Call PFD 040130205 1,477 58,739 SH   SOLE   58,739 0 0
Arlington Asset Inv 7.00- Cum PFD 041356601 565 23,066 SH   SOLE   23,066 0 0
Ashford Hospitality 7.375- NR PFD 044103604 711 29,724 SH   SOLE   29,724 0 0
Ashford Hospitality 7.5- Calla PFD 044103885 371 15,300 SH   SOLE   15,300 0 0
Ashford Hospitality 7.50-Cum P PFD 044103802 250 10,216 SH   SOLE   10,216 0 0
Atlas Finl SrNt 6.625- Cl 4/20 PFD g06207123 447 17,425 SH   SOLE   17,425 0 0
Axos Finl 6.25-Sr Nts 2/2026 C PFD 05465c209 218 8,450 SH   SOLE   8,450 0 0
B Riley Financial 7.375-SnNtsD PFD 05580m504 414 15,900 SH   SOLE   15,900 0 0
B Riley Financial 7.50-SnNts D PFD 05580m306 2,725 106,875 SH   SOLE   106,875 0 0
B Riley Financial 7.50-SnNts d PFD 05580m207 473 18,445 SH   SOLE   18,445 0 0
BancOfCalifornia 7.00- Cal2021 PFD 05990k874 1,875 72,398 SH   SOLE   72,398 0 0
BancOfCalifornia 7.375- Ca2020 PFD 05990k882 6,988 270,348 SH   SOLE   270,348 0 0
Bank of America 6.5- Prp Cl 1/ PFD 060505310 448 17,179 SH   SOLE   17,179 0 0
Bank of America 6.625- Prp/Cl9 PFD 060505344 2,632 101,214 SH   SOLE   101,214 0 0
BankofAmerica -1000pv 7.25-Cnv PFD 060505682 6,141 4,745 SH   SOLE   4,745 0 0
Barclays 8.125- BB NCU QDI Cal PFD 06739h362 367 14,100 SH   SOLE   14,100 0 0
BlueRock Residential Growth 7. PFD 09627j748 1,543 60,164 SH   SOLE   60,164 0 0
BlueRock Residential Growth 8. PFD 09627j508 3,311 128,439 SH   SOLE   128,439 0 0
Brookfield Ppty 6.375- Call 2/ PFD 11282x202 354 14,600 SH   SOLE   14,600 0 0
CAI Internatnl 8.50-Perp Cum Q PFD 12477x205 2,486 98,352 SH   SOLE   98,352 0 0
CAI Internatnl 8.50-Perp Cum Q PFD 12477x304 574 22,475 SH   SOLE   22,475 0 0
CHS Chemical 7.50- Cl 1/2025 C PFD 12542r803 7,160 261,986 SH   SOLE   261,986 0 0
CHS Chemicals 6.75- Perp cl 20 PFD 12542r704 329 12,540 SH   SOLE   12,540 0 0
CHS Chemicals 7.875- Perp cl 2 PFD 12542r308 380 13,472 SH   SOLE   13,472 0 0
CHS Inc. 7.1- fxd to float in PFD 12542r506 251 9,296 SH   SOLE   9,296 0 0
Capital One Finl 6.7-Prp Call PFD 14040h709 1,599 61,207 SH   SOLE   61,207 0 0
ChickenSoup4Soul 9.75-QDI Call PFD 16842q209 390 15,080 SH   SOLE   15,080 0 0
Chimera Investment Corp 7.75- PFD 16934q505 1,323 52,702 SH   SOLE   52,702 0 0
Chimera Investment Corp 8- Cal PFD 16934q307 313 12,235 SH   SOLE   12,235 0 0
Chimera Investment Corp 8- Cal PFD 16934q406 558 21,727 SH   SOLE   21,727 0 0
Citigroup 5.8- QDI BB- Called PFD 172967366 202 7,985 SH   SOLE   7,985 0 0
Citigroup 6.875- Non Cum Call PFD 172967333 221 8,620 SH   SOLE   8,620 0 0
Citigroup 7.125- Flt Aftr 9/23 PFD 172967358 6,904 247,350 SH   SOLE   247,350 0 0
Citigroup Tst 7.875- Cl2015 Li PFD 173080201 933 34,745 SH   SOLE   34,745 0 0
City Office REIT 6.625- CUM Ca PFD 178587200 292 11,738 SH   SOLE   11,738 0 0
Colony Capital 7.125- CUM Call PFD 19626g702 4,681 205,861 SH   SOLE   205,861 0 0
Colony Capital 7.125- CUM Call PFD 19626g603 348 15,300 SH   SOLE   15,300 0 0
Colony Capital 7.125- CUM Call PFD 19626g504 1,235 54,310 SH   SOLE   54,310 0 0
Colony Capital 7.50- CUM Call PFD 19626g405 2,503 104,743 SH   SOLE   104,743 0 0
Colony Capital 8.75- CUM Call PFD 19626g306 661 25,814 SH   SOLE   25,814 0 0
CoreEnergy 7.375- Pfd - Par Ca PFD 21870u304 2,075 82,360 SH   SOLE   82,360 0 0
Cowen 7.35- Sn Notes 2027 Call PFD 223622705 1,493 58,225 SH   SOLE   58,225 0 0
Cowen 7.75- Snr Notes 2033 Cl PFD 223622804 1,482 58,725 SH   SOLE   58,725 0 0
Crown Castle Intl 6.875- MndCo PFD 22822v309 340 313 SH   SOLE   313 0 0
Customers Bk 7.00- Fx Flt Prp/ PFD 23204g407 280 10,772 SH   SOLE   10,772 0 0
Digital Realty 7.375- Perp CUM PFD 253868871 1,871 73,550 SH   SOLE   73,550 0 0
Dynagas LNG 9.0- QDI CUM cl 2 PFD Y2188b116 1,163 45,272 SH   SOLE   45,272 0 0
EBAY 6.00- Sr Notes Call 3/1/2 PFD 278642202 440 16,760 SH   SOLE   16,760 0 0
EaglePoint Credit 6.625- Nts D PFD 269809505 1,306 52,375 SH   SOLE   52,375 0 0
EaglePoint Credit 7.75- Due 10 PFD 269809307 278 10,530 SH   SOLE   10,530 0 0
EaglePoint Credit 7.75-2022 CU PFD 269809109 621 24,460 SH   SOLE   24,460 0 0
Enstar Group 7.0- Perp Call 9/ PFD 29359u109 935 35,415 SH   SOLE   35,415 0 0
Fidus Investment 5.875-Notes D PFD 316500206 616 24,000 SH   SOLE   24,000 0 0
First Republic 7.0- Called12/2 PFD 33616c860 4,198 164,629 SH   SOLE   164,629 0 0
GasLog LP 8.625-fxd/flt Cum Q PFD y2687w116 1,038 40,061 SH   SOLE   40,061 0 0
GasLog Ltd 8.375- Ser A CUM QD PFD y2687w124 1,443 56,798 SH   SOLE   56,798 0 0
GasLog Ltd 8.75- Ser A CUM QDI PFD g37585117 1,443 55,819 SH   SOLE   55,819 0 0
Gladstone 7.00- CUM Perp Call PFD 376536603 5,921 234,526 SH   SOLE   234,526 0 0
Gladstone Investment 6.25- CUM PFD 376546503 572 22,621 SH   SOLE   22,621 0 0
Gladstone Invstmt 6.375-CUM 8/ PFD 376546602 205 8,100 SH   SOLE   8,100 0 0
Global Indemnity SrNts7.75- Ca PFD g3933f121 1,927 74,974 SH   SOLE   74,974 0 0
Global Indmnty 7.875- Cl2022 b PFD g3933f139 1,140 44,338 SH   SOLE   44,338 0 0
Global Medical RE 7.50- CUM Pe PFD 37957w203 636 25,346 SH   SOLE   25,346 0 0
Global Net Lease 7.25-Perp Cum PFD 379378300 1,683 67,139 SH   SOLE   67,139 0 0
Golar LNG 8.75- Perp QDI Call PFD y2745c110 1,480 57,890 SH   SOLE   57,890 0 0
Goldman 5.5- Flt Aftr 5/23 Cl PFD 38145g308 1,739 68,366 SH   SOLE   68,366 0 0
Great Elm Capital 6.75-SnNts M PFD 390320406 459 18,300 SH   SOLE   18,300 0 0
Hanover Insurance6.35- Cl3/18 PFD 410867204 1,089 43,221 SH   SOLE   43,221 0 0
Hartford Finl 7.875- 2042 call PFD 416518504 1,130 40,350 SH   SOLE   40,350 0 0
Hersha Hospitality 6.50- NR Ca PFD 427825609 279 12,025 SH   SOLE   12,025 0 0
Hoegh LNG Partners 8.75- QDI PFD y3262r118 1,165 45,313 SH   SOLE   45,313 0 0
Horizon Technology Fin 6.25-Sr PFD 44045a300 325 12,750 SH   SOLE   12,750 0 0
IberiaBank Corp 6.60- Call 5/1 PFD 450828504 711 26,210 SH   SOLE   26,210 0 0
Invesco Mortgage 7.75-Perp CUM PFD 46131b209 445 17,757 SH   SOLE   17,757 0 0
JMP Group 8.00- SrDeb Due1/202 PFD 46629u206 298 11,725 SH   SOLE   11,725 0 0
JMP Group SrNts7.25- BBB- 11/2 PFD 466273109 1,204 47,450 SH   SOLE   47,450 0 0
JPMorgan Chase 6.70-Perp/Call PFD 48127a161 1,645 64,311 SH   SOLE   64,311 0 0
Jernigan Capital 7.00- CUM PER PFD 476405204 691 27,841 SH   SOLE   27,841 0 0
Just Energy 8.50-Perp Call3/20 PFD 48213w200 885 42,561 SH   SOLE   42,561 0 0
KKR Inc 6.75- Pfd Call 6/15/20 PFD 48251w203 225 8,550 SH   SOLE   8,550 0 0
LaSalle Hotel 6.3- Called 9/13 PFD 517942884 241 9,887 SH   SOLE   9,887 0 0
LaSalle Hotel 6.375- PFD 517942801 226 9,116 SH   SOLE   9,116 0 0
Ladenburg Thalmann 7.25-SnNte PFD 50575q409 1,942 78,325 SH   SOLE   78,325 0 0
Landenburg Thalman 7.00-SnNte PFD 50575q110 718 29,650 SH   SOLE   29,650 0 0
M&T Bank 6.375- Cl 11/18 BBB- PFD 55261f708 409 404 SH   SOLE   404 0 0
MFA Financial 7.5- Prp Cl 4/15 PFD 55272x409 241 9,607 SH   SOLE   9,607 0 0
MVC Capital 6.25- SrNts Due12/ PFD 553829409 499 19,650 SH   SOLE   19,650 0 0
Morgan Stanley 7.125-Flt 10/23 PFD 61762v200 4,317 153,689 SH   SOLE   153,689 0 0
National General 7.5- NA Cl Q PFD 636220857 4,717 191,114 SH   SOLE   191,114 0 0
National General 7.50-Call4/20 PFD 636220808 2,607 105,444 SH   SOLE   105,444 0 0
National General 7.625- Call9/ PFD 636220873 1,460 57,012 SH   SOLE   57,012 0 0
National General7.50-Call 7/20 PFD 636220709 2,156 86,692 SH   SOLE   86,692 0 0
New York MtgTrust 7.875-Perp C PFD 649604808 292 11,909 SH   SOLE   11,909 0 0
NewTek Business Svs 6.25- Nts PFD 652526500 1,147 44,650 SH   SOLE   44,650 0 0
NewTek Business Svs 7.50- Nts PFD 652526302 500 19,811 SH   SOLE   19,811 0 0
NuStar Logistics 7.625-Nts Cl PFD 67059t204 1,769 70,064 SH   SOLE   70,064 0 0
OFS Capital 6.375 SnNts 4/2025 PFD 67103b308 766 30,400 SH   SOLE   30,400 0 0
Oxford Lane Cap6.75- Nts 6/202 PFD 691543508 911 35,397 SH   SOLE   35,397 0 0
Partner Re 6.50-Perp Cal 4/202 PFD g68603136 2,773 106,620 SH   SOLE   106,620 0 0
Partner Re 7.25- Call 06/21 BB PFD g68603144 6,399 237,008 SH   SOLE   237,008 0 0
Penn RealEstate 7.375-CUM Perp PFD 709102503 311 13,220 SH   SOLE   13,220 0 0
PennyMac Mtg 8.125- 2024 Libor PFD 70931t301 422 16,834 SH   SOLE   16,834 0 0
Plymouth Industrial 7.50- CUM PFD 729640201 373 15,021 SH   SOLE   15,021 0 0
Priority Income Fund6.375-SnNt PFD 74274w103 421 16,725 SH   SOLE   16,725 0 0
Prospect Captl 6.25- 6/24 SrNt PFD 74348t300 2,346 93,731 SH   SOLE   93,731 0 0
Prudential PLC 6.75- PrpCl 9/0 PFD g7293h114 395 15,277 SH   SOLE   15,277 0 0
QTS Realty 7.125- Perp Cum Cl PFD 74736a202 721 28,128 SH   SOLE   28,128 0 0
Quest USWest 7.0- SrNts 2/56 C PFD 74913g808 3,429 136,343 SH   SOLE   136,343 0 0
Quest USWestSnNotes 6.875- CL PFD 74913g105 2,512 102,945 SH   SOLE   102,945 0 0
Qwest Corp 6.5- Sr Note 9/56 C PFD 74913g881 1,448 62,675 SH   SOLE   62,675 0 0
Qwest Corp 6.75- SrNote 6/57 C PFD 74913g873 962 40,427 SH   SOLE   40,427 0 0
RLJ Lodging -1.95 Cnv@89.09 B- PFD 74965l200 223 8,595 SH   SOLE   8,595 0 0
Ready Capital 7.0-SrNts 8/2023 PFD 75574u200 209 8,000 SH   SOLE   8,000 0 0
Ready Capital Sr 6.5- 4/2021BB PFD 75574u309 573 22,365 SH   SOLE   22,365 0 0
Regions Financial 6.375- Cl 12 PFD 7591ep308 393 15,574 SH   SOLE   15,574 0 0
Reinsurance Group ofAmer 6.2- PFD 759351703 240 9,000 SH   SOLE   9,000 0 0
SL Green Realty 6.5- Perp CUM PFD 78440x507 1,474 58,880 SH   SOLE   58,880 0 0
SoCalEd 5.375- CUM cl 2025 QDI PFD 78409g206 776 31,851 SH   SOLE   31,851 0 0
Sotherly Hotels 7.25- SrNt2021 PFD 83600e307 662 25,650 SH   SOLE   25,650 0 0
Sotherly Hotels 7.875- Cum Per PFD 83600c400 1,149 46,068 SH   SOLE   46,068 0 0
Sotherly Hotels 8- Cum Perp C PFD 83600c301 2,976 117,023 SH   SOLE   117,023 0 0
Spark Energy 8.75- Call 2022 Q PFD 846511202 718 30,410 SH   SOLE   30,410 0 0
Summitt Hotel Prp 6.25-CUM Per PFD 866082605 210 8,900 SH   SOLE   8,900 0 0
Sunstone Hotel 6.95- Prp/Cl 3/ PFD 867892606 786 30,278 SH   SOLE   30,278 0 0
Teekay Offshore 8.875-Cum Cl 2 PFD Y8561j176 232 9,425 SH   SOLE   9,425 0 0
Telephone & Data 6.875- Cl 11/ PFD 879433845 1,943 77,475 SH   SOLE   77,475 0 0
Telephone & Data 7.0- Cl 3/16 PFD 879433837 613 24,402 SH   SOLE   24,402 0 0
Tennessee Valley Var 30yr-98bp PFD 880591300 201 8,000 SH   SOLE   8,000 0 0
Texas Capitl Bancshares6.50- 2 PFD 882228307 447 17,417 SH   SOLE   17,417 0 0
Torchmark Crp 6.125- SubDebCal PFD 891027401 775 30,350 SH   SOLE   30,350 0 0
TriState Capital Hlds 6.75- Pe PFD 89678f209 1,114 42,450 SH   SOLE   42,450 0 0
Two Harbors Investments 7.625- PFD 90187b309 302 11,741 SH   SOLE   11,741 0 0
Two Harbors Investments 8.125- PFD 90187b200 603 22,614 SH   SOLE   22,614 0 0
UMH Properties 8.0- Perp Cum C PFD 903002301 547 20,814 SH   SOLE   20,814 0 0
US Bancorp 6.5- Flt Aftr 1/22 PFD 902973833 917 33,673 SH   SOLE   33,673 0 0
US Celllular SrNts 7.25- 2063 PFD 911684504 582 22,700 SH   SOLE   22,700 0 0
US Cellular 6.95-SrNT 2060 Cl PFD 911684405 379 15,125 SH   SOLE   15,125 0 0
US Cellular 7.25- SrNts12/2064 PFD 911684603 1,770 69,027 SH   SOLE   69,027 0 0
VEREIT Inc 6.70- Perp CUM Cl 2 PFD 92339v209 774 31,146 SH   SOLE   31,146 0 0
Wells Fargo 5.85-Flt Aftr 9/23 PFD 949746556 621 24,097 SH   SOLE   24,097 0 0
Wells Fargo 6.375- Cl 12/19 BB PFD 94988n207 752 29,365 SH   SOLE   29,365 0 0
Wells Fargo 7.5- Cnv@-156 -100 PFD 949746804 17,323 13,420 SH   SOLE   13,420 0 0
WinTrust Financial 6.50- Call PFD 97650w405 263 9,887 SH   SOLE   9,887 0 0
American Express Cp 5.2- - Cal PFD 025816BJ7 605 600,000 PRN   SOLE   600,000 0 0
Bank of America 5.20- Perp/Cal PFD 060505ED2 1,945 1,965,000 PRN   SOLE   1,965,000 0 0
Bank of NY Mellon - Call 6/20/ PFD 064058AD2 857 840,000 PRN   SOLE   840,000 0 0
Charles Schwab 4.625- Perp/Cal PFD 808513AP0 740 740,000 PRN   SOLE   740,000 0 0
Charles Schwab 7- Perp/Call 2/ PFD 808513AE5 1,323 1,212,000 PRN   SOLE   1,212,000 0 0
Citigroup 5.35- Perp/Call 5/23 PFD 172967GR6 728 740,000 PRN   SOLE   740,000 0 0
Citigroup 5.875- Perp/Call 3/2 PFD 172967JK8 358 350,000 PRN   SOLE   350,000 0 0
Citigroup Inc - Callable 11/15 PFD 172967HZ7 408 400,000 PRN   SOLE   400,000 0 0
Citigroup Inc 5.95- Perp Call PFD 172967GD7 1,172 1,150,000 PRN   SOLE   1,150,000 0 0
Citigroup Inc 6.125- Perp Call PFD 172967KD2 573 550,000 PRN   SOLE   550,000 0 0
Citigroup Inc Fix-to-Float Per PFD 172967GF2 716 700,000 PRN   SOLE   700,000 0 0
Fifth Third Bancorp 4.9- until PFD 316773CR9 713 710,000 PRN   SOLE   710,000 0 0
GE Cap Corp 5.00- Perp/Call 1/ PFD 369604BQ5 1,855 1,905,000 PRN   SOLE   1,905,000 0 0
Goldman Sachs 5- Perp/Call 11/ PFD 38148BAD0 582 615,000 PRN   SOLE   615,000 0 0
Goldman Sachs 5.375 Perp/Call PFD 38148BAB4 627 615,000 PRN   SOLE   615,000 0 0
Goldman Sachs 5.7 Perp/Call 5/ PFD 38148BAA6 1,227 1,215,000 PRN   SOLE   1,215,000 0 0
JPMorgan 5.3- Perp/Call 5/1/20 PFD 46625HKK5 307 300,000 PRN   SOLE   300,000 0 0
JPMorgan 6.0- Perp/Call 8/23 - PFD 48126HAA8 3,255 3,145,000 PRN   SOLE   3,145,000 0 0
JPMorgan 7.9- Perp/Call 4/18 - PFD 46625HHA1 3,143 3,135,000 PRN   SOLE   3,135,000 0 0
MetLife Inc. 5.25- Call 6/15/2 PFD 59156RBP2 392 385,000 PRN   SOLE   385,000 0 0
Morgan Stanley 5.45- Perp/Call PFD 61761JQK8 656 650,000 PRN   SOLE   650,000 0 0
So. Cal Edison 6.25- Perp/Call PFD 842400FU2 632 605,000 PRN   SOLE   605,000 0 0
Stanley Black & Decker Callabl PFD 854502AF8 1,155 1,145,000 PRN   SOLE   1,145,000 0 0
Suntrust Bank 5.05- Call 2022- PFD 867914BN2 632 640,000 PRN   SOLE   640,000 0 0
US Bancorp - Callable 1/15/21 PFD 902973AY2 308 300,000 PRN   SOLE   300,000 0 0
Wachovia (WFC) Perp/Call 2/11 PFD 92978AAA0 2,673 2,700,000 PRN   SOLE   2,700,000 0 0
Wells Fargo & Company Perp/Cal PFD 949746PM7 558 552,000 PRN   SOLE   552,000 0 0