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
ABBVIE COM 00287Y109 208 3,100 SH   SOLE   0 0 3,100
AFLAC COM 001055102 124 2,000 SH   SOLE   0 0 2,000
ALLERGAN PLC COM G0177J108 325 1,073 SH   SOLE   0 0 1,073
ALLERGAN PFD G0177J116 8,046 7,695 SH   SOLE   2,300 0 5,395
AMERICAN RLTY COM 02917T104 817 100,500 SH   SOLE   0 0 100,500
AMERICAN RLTY DEB 02917TAA2 2,595 2,777,000 PRN   SOLE   0 0 2,777,000
APACHE CORP COM 037411105 403 7,000 SH   SOLE   0 0 7,000
APPLE INC COM 037833100 6,855 54,656 SH   SOLE   43,000 0 11,656
ARCELMORMITTAL PFD L0302D178 2,123 136,044 SH   SOLE   8,000 0 128,044
ARES CAPITAL DEB 04010LAJ2 3,052 2,985,000 PRN   SOLE   0 0 2,985,000
ASCENT CAPITAL DEB 043632AA6 1,903 2,300,000 PRN   SOLE   2,300,000 0 0
ASHFORD HOSPITALITY COM 044103109 207 24,500 SH   SOLE   0 0 24,500
BANK OF AMERICA COM 060505104 119 7,000 SH   SOLE   0 0 7,000
BB&T CORP COM 054937107 443 11,000 SH   SOLE   0 0 11,000
CARRIAGE SERVICES DEB 143905AM9 4,190 3,510,000 PRN   SOLE   1,505,000 0 2,005,000
CHESAPEAKE ENGY DEB 165167CA3 737 765,000 PRN   SOLE   0 0 765,000
CHESAPEAKE ENGY COM 165167107 408 36,499 SH   SOLE   19,999 0 16,500
CHEVRON COM 166764100 458 4,750 SH   SOLE   0 0 4,750
CITIGROUP COM 172967424 136 2,455 SH   SOLE   0 0 2,455
CITRIX SYSTEMS DEB 177376AD2 106 100,000 PRN   SOLE   0 0 100,000
CROWN CASTLE PFD 22822V200 10,939 106,238 SH   SOLE   34,430 0 71,808
DIAMOND OFFSHORE COM 25271C102 258 10,000 SH   SOLE   0 0 10,000
ENSCO PLC COM G3157S106 556 25,000 SH   SOLE   0 0 25,000
ENVESTNET DEB 29404KAA4 1,131 1,165,000 PRN   SOLE   350,000 0 815,000
EPR PROPERTIES PFD 26884U208 4,198 182,752 SH   SOLE   182,752 0 0
EXELIXIS COM 30161Q104 339 90,300 SH   SOLE   0 0 90,300
EXELIXIS DEB 30161QAC8 5,297 5,990,000 PRN   SOLE   2,030,000 0 3,960,000
EXELON CORP PFD 30161N127 883 19,467 SH   SOLE   3,000 0 16,467
EXXON MOBIL COM 30231G102 267 3,215 SH   SOLE   0 0 3,215
FIFTH THIRD BANK COM 316773100 291 14,000 SH   SOLE   0 0 14,000
FORD MOTOR COM 345370860 5,083 338,673 SH   SOLE   152,500 0 186,173
FREEPORT MCMORAN COM 35671D857 154 8,300 SH   SOLE   0 0 8,300
GAMESTOP COM 36467W109 644 15,000 SH   SOLE   0 0 15,000
GENERAL CABLE COM 369300108 103 5,218 SH   SOLE   0 0 5,218
GENERAL ELECTRIC COM 369604103 195 7,344 SH   SOLE   0 0 7,344
GENERAL MOTORS COM 30745V100 6,816 204,507 SH   SOLE   54,312 0 150,195
GOODRICH PETRO COM 382410405 125 67,500 SH   SOLE   0 0 67,500
GOODYEAR TIRE COM 382550101 5,719 189,703 SH   SOLE   70,000 0 119,703
HEALTHCARE REIT PFD 42217K601 1,866 31,396 SH   SOLE   31,396 0 0
HCI GROUP DEB 40416EAB9 5,520 5,636,000 PRN   SOLE   156,000 0 5,480,000
HCI GROUP COM 40416E103 9,324 210,906 SH   SOLE   142,000 0 68,906
INVESCO TR INVT COM 46131M106 881 65,500 SH   SOLE   0 0 65,500
J2 GLOBAL DEB 48123VAC6 881 760,000 PRN   SOLE   100,000 0 660,000
JEFFERIES GROUP DEB 472319AG7 1,281 1,255,000 PRN   SOLE   0 0 1,255,000
JETBLUE AIRWAYS COM 477143101 207 10,000 SH   SOLE   0 0 10,000
KOHLS GROUP COM 500255104 541 8,650 SH   SOLE   0 0 8,650
LEGGETT & PLATT COM 524660107 149 3,065 SH   SOLE   0 0 3,065
LEXINGTON PTY COM 529043101 14,450 1,704,053 SH   SOLE   467,500 0 1,236,553
LEXINGTON PTY PFD 529043309 7,066 148,041 SH   SOLE   33,100 0 114,941
LYONDELLBASELL COM N53745100 631 6,100 SH   SOLE   0 0 6,100
MACQUARIE INFRA DEB 55608BAA3 489 415,000 PRN   SOLE   0 0 415,000
MERCK COM 58933Y105 4,893 85,949 SH   SOLE   11,000 0 74,949
METLIFE COM 59156R108 9,318 166,427 SH   SOLE   50,000 0 116,427
NATIONAL HEALTH DEB 63633DAE4 9,247 9,370,000 PRN   SOLE   2,900,000 0 6,470,000
NATL OILWELL COM 637071101 3,596 74,480 SH   SOLE   40,000 0 34,480
NEWMONT MINE COM 651639106 303 13,000 SH   SOLE   0 0 13,000
NEWMONT MINE DEB 651639AJ5 116 115,000 PRN   SOLE   0 0 115,000
NICHOLAS FIN COM 65373J209 172 13,500 SH   SOLE   0 0 13,500
NOBLE CORP. COM G65431101 400 26,000 SH   SOLE   0 0 26,000
NY COMM BANC COM 649445103 2,398 130,500 SH   SOLE   0 0 130,500
NY COMM BANC PFD 64944P307 3,062 59,866 SH   SOLE   7,000 0 52,866
OLD REPUBLIC COM 680223104 3,949 252,700 SH   SOLE   250,000 0 2,700
OLD REPUBLIC DEB 680223AH7 335 284,000 PRN   SOLE   0 0 284,000
OXBRIDGE COM G6856M106 365 60,427 PRN   SOLE   60,427 0 0
PFIZER COM 717081103 1,039 31,000 SH   SOLE   0 0 31,000
PRAXAIR COM 74005P104 105 880 SH   SOLE   0 0 880
PROSHARES COM 74743B201 118 2,375 SH   SOLE   0 0 2,375
PRUDENTIAL FINL COM 744320102 875 10,000 SH   SOLE   0 0 10,000
RAMCO GERSHNSN PFD 751452608 7,978 133,947 SH   SOLE   92,727 0 41,220
ROYAL GOLD DEB 780287AA6 4,244 4,146,000 PRN   SOLE   325,000 0 3,821,000
RTI INTERNATIONAL DEB 74973WAB3 965 890,000 PRN   SOLE   95,000 0 795,000
SANDRIDGE COM 80007P307 113 129,485 SH   SOLE   0 0 129,485
SANOFI SPONSOR COM 80105N105 10,022 202,352 SH   SOLE   66,100 0 136,252
SEAGATE TECH COM G7945M107 261 5,500 SH   SOLE   0 0 5,500
SHIP FINANCE DEB G81075AE6 9,714 9,148,000 PRN   SOLE   3,705,000 0 5,443,000
SHIP FINANCE COM G81075106 223 13,700 SH   SOLE   0 0 13,700
SPIRIT REALTY DEB 84860WAB8 545 585,000 PRN   SOLE   0 0 585,000
SPIRIT REALTY DEB 84860WAA0 10,570 11,215,000 PRN   SOLE   3,780,000 0 7,435,000
SWISS HELVETIA COM 870875101 1,226 108,273 SH   SOLE   0 0 108,273
SYNOVUS FINL COM 87161C105 416 13,500 SH   SOLE   0 0 13,500
SYNTA PHARM COM 87162T206 161 72,500 SH   SOLE   0 0 72,500
TOLL BROS DEB 88947EAM2 612 590,000 PRN   SOLE   0 0 590,000
TTM TECH DEB 87305RAD1 5,482 4,708,000 PRN   SOLE   1,200,000 0 3,508,000
TYSON FOODS PFD 902494301 5,443 105,675 SH   SOLE   33,600 0 72,075
VERIZON COM 92343V104 2,821 60,532 SH   SOLE   17,000 0 43,532
WESTERN UNION COM 959802109 691 34,000 SH   SOLE   0 0 34,000
CAPITAL ONE WTS 14040H139 2,300 50,000 SH   SOLE   50,000 0 0
GENERAL MOTORS WTS 37045V126 1,119 70,200 SH   SOLE   70,200 0 0
JPMORGAN CHASE WTS 46634E114 2,153 87,000 SH   SOLE   57,000 0 30,000
XEROX CORP COM 984121103 133 12,500 SH   SOLE   0 0 12,500