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 169 3,100 SH   SOLE   0 0 3,100
AFLAC COM 001055102 232 4,000 SH   SOLE   0 0 4,000
ALLERGAN PLC COM G0177J108 291 1,073 SH   SOLE   0 0 1,073
ALLERGAN PFD G0177J116 7,137 7,565 SH   SOLE   2,300 0 5,265
AMERICAN RLTY DEB 02917TAA2 2,549 2,687,000 PRN   SOLE   0 0 2,687,000
APACHE CORP COM 037411105 235 6,000 SH   SOLE   0 0 6,000
APPLE INC COM 037833100 5,854 53,071 SH   SOLE   43,000 0 10,071
ARCELMORMITTAL PFD L0302D178 283 34,500 SH   SOLE   0 0 34,500
ARES CAPITAL DEB 04010LAJ2 2,807 2,745,000 PRN   SOLE   0 0 2,745,000
ASCENT CAPITAL DEB 043632AA6 1,656 2,300,000 PRN   SOLE   2,300,000 0 0
ASHFORD HOSPITALITY COM 044103109 238 39,000 SH   SOLE   0 0 39,000
ATLAS AIR WORLDWIDE DEB 049164BH8 1,094 1,365,000 PRN   SOLE   300,000 0 1,065,000
BANK OF AMERICA COM 060505104 109 7,000 SH   SOLE   0 0 7,000
BB&T CORP COM 054937107 392 11,000 SH   SOLE   0 0 11,000
BUNGE LTD COM G16962105 147 2,000 SH   SOLE   0 0 2,000
CARRIAGE SERVICES DEB 143905AM9 3,650 3,290,000 PRN   SOLE   1,505,000 0 1,785,000
CHART INDUSTRIES DEB 16115QAC4 594 680,000 PRN   SOLE   0 0 680,000
CHESAPEAKE ENGY DEB 165167CA3 608 695,000 PRN   SOLE   0 0 695,000
CHESAPEAKE ENGY COM 165167107 275 37,499 SH   SOLE   19,999 0 17,500
CHEVRON COM 166764100 375 4,750 SH   SOLE   0 0 4,750
CROWN CASTLE PFD 22822V200 10,651 104,568 SH   SOLE   34,430 0 70,138
DIAMOND OFFSHORE COM 25271C102 173 10,000 SH   SOLE   0 0 10,000
ENSCO PLC COM G3157S106 352 25,000 SH   SOLE   0 0 25,000
ENVESTNET DEB 29404KAA4 981 1,105,000 PRN   SOLE   350,000 0 755,000
EPR PROPERTIES PFD 26884U208 4,050 182,752 SH   SOLE   182,752 0 0
EATON CORP COM G29183103 308 6,000 SH   SOLE   0 0 6,000
EXELIXIS COM 30161Q104 240 42,800 SH   SOLE   0 0 42,800
EXELIXIS DEB 30161QAC8 4,374 3,624,000 PRN   SOLE   1,200,000 0 2,424,000
EXELON CORP PFD 30161N127 981 22,467 SH   SOLE   3,000 0 19,467
EXXON MOBIL COM 30231G102 239 3,215 SH   SOLE   0 0 3,215
FIFTH THIRD BANK COM 316773100 302 16,000 SH   SOLE   0 0 16,000
FORD MOTOR COM 345370860 4,596 338,673 SH   SOLE   152,500 0 186,173
GAMESTOP COM 36467W109 618 15,000 SH   SOLE   0 0 15,000
GENERAL ELECTRIC COM 369604103 151 5,994 SH   SOLE   0 0 5,994
GENERAL MOTORS COM 30745V100 6,005 200,027 SH   SOLE   54,312 0 145,715
GOODYEAR TIRE COM 382550101 3,787 129,107 SH   SOLE   60,000 0 69,107
HEALTHCARE REIT PFD 42217K601 1,907 31,396 SH   SOLE   31,396 0 0
HCI GROUP DEB 40416EAB9 6,412 7,046,000 PRN   SOLE   306,000 0 6,740,000
HCI GROUP COM 40416E103 8,145 210,081 SH   SOLE   142,000 0 68,081
INTERNATIONAL PAPER COM 460146103 151 4,000 SH   SOLE   0 0 4,000
INVESCO TR INVT COM 46131M106 848 65,565 SH   SOLE   0 0 65,565
J2 GLOBAL DEB 48123VAC6 807 680,000 PRN   SOLE   100,000 0 580,000
JEFFERIES GROUP DEB 472319AG7 950 935,000 PRN   SOLE   0 0 935,000
JETBLUE AIRWAYS COM 477143101 258 10,000 SH   SOLE   0 0 10,000
JP MORGAN CHASE COM 46625H100 335 5,500 SH   SOLE   0 0 5,500
KOHLS GROUP COM 500255104 319 6,900 SH   SOLE   0 0 6,900
LEGGETT & PLATT COM 524660107 126 3,065 SH   SOLE   0 0 3,065
LEXINGTON PTY COM 529043101 13,793 1,702,862 SH   SOLE   467,500 0 1,235,362
LEXINGTON PTY PFD 529043309 6,796 143,620 SH   SOLE   33,100 0 110,520
LYONDELLBASELL COM N53745100 508 6,100 SH   SOLE   0 0 6,100
MACQUARIE INFRA DEB 55608BAA3 329 290,000 PRN   SOLE   0 0 290,000
MERCK COM 58933Y105 5,884 119,139 SH   SOLE   31,000 0 88,139
METLIFE COM 59156R108 7,757 164,518 SH   SOLE   50,000 0 114,518
MOSAIC CO COM 61945C103 124 4,000 SH   SOLE   0 0 4,000
NATIONAL HEALTH DEB 63633DAE4 10,025 10,342,000 PRN   SOLE   3,275,000 0 7,067,000
NATL OILWELL COM 637071101 2,435 64,680 SH   SOLE   32,500 0 32,180
NEWMONT MINE COM 651639106 210 13,000 SH   SOLE   0 0 13,000
NICHOLAS FIN COM 65373J209 156 12,000 SH   SOLE   0 0 12,000
NOBLE CORP. COM G65431101 284 26,000 SH   SOLE   0 0 26,000
NY COMM BANC COM 649445103 867 48,000 SH   SOLE   0 0 48,000
NY COMM BANC PFD 64944P307 5,557 111,139 SH   SOLE   7,000 0 104,139
OLD REPUBLIC COM 680223104 3,910 250,000 SH   SOLE   250,000 0 0
OLD REPUBLIC DEB 680223AH7 328 284,000 PRN   SOLE   0 0 284,000
OXBRIDGE COM G6856M106 718 120,000 SH   SOLE   120,000 0 0
PFIZER COM 717081103 974 31,000 SH   SOLE   0 0 31,000
PHILLIPS 66 COM 718546104 115 1,500 SH   SOLE   0 0 1,500
PROSHARES COM 74743B201 130 3,000 SH   SOLE   0 0 3,000
PRUDENTIAL FINL COM 744320102 762 10,000 SH   SOLE   0 0 10,000
RAMCO GERSHNSN PFD 751452608 8,634 155,087 SH   SOLE   94,227 0 60,860
ROYAL GOLD DEB 780287AA6 3,488 3,619,000 PRN   SOLE   325,000 0 3,294,000
RTI INTERNATIONAL DEB 74973WAB3 851 810,000 PRN   SOLE   95,000 0 715,000
SANOFI SPONSOR COM 80105N105 7,698 162,175 SH   SOLE   60,000 0 102,175
SEAGATE TECH COM G7945M107 448 10,000 SH   SOLE   0 0 10,000
SHIP FINANCE DEB G81075AE6 9,210 8,798,000 PRN   SOLE   3,705,000 0 5,093,000
SHIP FINANCE COM G81075106 223 13,700 SH   SOLE   0 0 13,700
SHUTTERFLY DEB 82568PAB2 2,746 2,963,000 PRN   SOLE   675,000 0 2,288,000
SPIRIT REALTY DEB 84860WAB8 534 585,000 PRN   SOLE   0 0 585,000
SPIRIT REALTY DEB 84860WAA0 10,458 11,230,000 PRN   SOLE   3,980,000 0 7,250,000
SWISS HELVETIA COM 870875101 1,242 114,379 SH   SOLE   0 0 114,379
SYNOVUS FINL COM 87161C105 400 13,500 SH   SOLE   0 0 13,500
SYNTA PHARM COM 87162T206 126 72,500 SH   SOLE   0 0 72,500
TOLL BROS DEB 88947EAM2 406 395,000 PRN   SOLE   0 0 395,000
TTM TECH DEB 87305RAD1 7,231 8,258,000 PRN   SOLE   1,995,000 0 6,263,000
TYSON FOODS PFD 902494301 6,202 121,001 SH   SOLE   41,100 0 79,901
VEREIT INC COM 92339V100 764 99,000 SH   SOLE   0 0 99,000
VERIZON COM 92343V104 4,128 94,872 SH   SOLE   32,000 0 62,872
WEYERHAEUSER PFD 962166872 143 3,000 SH   SOLE   0 0 3,000
WESTERN UNION COM 959802109 587 32,000 SH   SOLE   0 0 32,000
CAPITAL ONE WTS 14040H139 1,585 50,000 SH   SOLE   50,000 0 0
GENERAL MOTORS WTS 37045V126 928 70,200 SH   SOLE   70,200 0 0
JPMORGAN CHASE WTS 46634E114 1,682 84,500 SH   SOLE   57,000 0 27,500
XEROX CORP COM 984121103 122 12,500 SH   SOLE   0 0 12,500