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
ACADIA PHARMACEUTICALS INC COM 004225108 30 1,100 SH   OTR   0 0 1,100
AGNICO EAGLE MINES LTD COM 008474108 124 4,688 SH   OTR   0 0 4,688
ALCATEL-LUCENT SPONSORED ADR 013904305 479 135,804 SH   OTR   0 0 135,804
ALLIED NEVADA GOLD CORP COM 019344100 186 44,608 SH   OTR   0 0 44,608
AMAZON COM INC COM 023135106 156 500 SH   OTR   0 0 500
ARBOR RLTY TR INC COM 038923108 435 68,113 SH   SOLE   68,113 0 0
ASHFORD HOSPITALITY TR INC 9% CUM PFD SER E 044103505 143 5,514 SH   SOLE   5,514 0 0
BBCN BANCORP INC COM 073295107 98 7,135 SH   OTR   0 0 7,135
B/E AEROSPACE INC COM 073302101 185 2,500 SH   OTR   0 0 2,500
BEAM INC COM 073730103 71 1,100 SH   OTR   0 0 1,100
BLOUNT INTL INC NEW COM 095180105 363 30,000 SH   OTR   0 0 30,000
CENTRAL FD CDA LTD CL A 153501101 924 62,845 SH   OTR   0 0 62,845
COMMONWEALTH REIT CV PFD-E 7.25% 203233606 23 1,000 SH   SOLE   1,000 0 0
CONTINENTAL RESOURCES INC COM 212015101 86 800 SH   OTR   0 0 800
DISCOVER FINL SVCS COM 254709108 162 3,200 SH   OTR   0 0 3,200
DUNKIN BRANDS GROUP INC COM 265504100 18 400 SH   OTR   0 0 400
ELDORADO GOLD CORP NEW COM 284902103 216 32,165 SH   OTR   0 0 32,165
FAMILY DLR STORES INC COM 307000109 562 7,800 SH   OTR   0 0 7,800
FIFTH THIRD BANCORP COM 316773100 134 7,442 SH   OTR   0 0 7,442
FORD MTR CO DEL COM PAR $0.01 345370860 150 8,878 SH   OTR   0 0 8,878
FRANCO NEVADA CORP COM 351858105 270 5,958 SH   OTR   0 0 5,958
GILEAD SCIENCES INC COM 375558103 69 1,100 SH   OTR   0 0 1,100
GOLDCORP INC NEW COM 380956409 268 10,292 SH   OTR   0 0 10,292
GREENHAVEN CONT CMDTY INDEX UNIT BEN INT 395258106 56 2,123 SH   OTR   0 0 2,123
HARRIS & HARRIS GROUP INC COM 413833104 12 3,955 SH   OTR   0 0 3,955
HECLA MNG CO COM 422704106 128 40,796 SH   OTR   0 0 40,796
HELMERICH & PAYNE INC COM 423452101 176 2,554 SH   OTR   0 0 2,554
HOLLYFRONTIER CORP COM 436106108 86 2,033 SH   OTR   0 0 2,033
INFOSYS LTD SPONSORED ADR 456788108 123 2,560 SH   OTR   0 0 2,560
ISHARES IBOXX INV CP ETF 464287242 61 533 SH   OTR   0 0 533
ISHARES MBS ETF 464288588 78 735 SH   OTR   0 0 735
ISIS PHARMACEUTICALS INC COM 464330109 551 14,665 SH   OTR   0 0 14,665
LENNAR CORP CL A 526057104 227 6,424 SH   OTR   0 0 6,424
LEXINGTON REALTY TRUST PFD CONV SER C 529043309 138 2,870 SH   SOLE   2,870 0 0
M D C HLDGS INC COM 552676108 182 6,064 SH   OTR   0 0 6,064
MACK CALI RLTY CORP COM 554489104 66 3,000 SH   SOLE   3,000 0 0
MCGRAW HILL FINL INC COM 580645109 158 2,402 SH   OTR   0 0 2,402
NEW GOLD INC CDA COM 644535106 169 28,329 SH   OTR   0 0 28,329
NEWMONT MINING CORP COM 651639106 173 6,168 SH   OTR   0 0 6,168
NORTH AMERN PALLADIUM LTD COM 656912102 74 76,993 SH   OTR   0 0 76,993
OASIS PETE INC NEW COM 674215108 59 1,200 SH   OTR   0 0 1,200
OWENS CORNING NEW COM 690742101 433 11,400 SH   OTR   0 0 11,400
PNC FINL SVCS GROUP INC COM 693475105 128 1,770 SH   OTR   0 0 1,770
PACIFIC SUNWEAR CALIF INC COM 694873100 450 150,000 SH   OTR   0 0 150,000
PENN WEST PETE LTD NEW COM 707887105 16 1,400 SH   OTR   0 0 1,400
PENNANTPARK INVT CORP COM 708062104 20 1,800 SH   OTR   0 0 1,800
PHILLIPS 66 COM 718546104 93 1,600 SH   OTR   0 0 1,600
PIONEER NAT RES CO COM 723787107 151 800 SH   OTR   0 0 800
PLUM CREEK TIMBER CO INC COM 729251108 187 3,998 SH   OTR   0 0 3,998
PRICELINE COM INC COM NEW 741503403 202 200 SH   OTR   0 0 200
QUALCOMM INC COM 747525103 461 6,851 SH   OTR   0 0 6,851
RADIOSHACK CORP COM 750438103 171 50,000 SH   OTR   0 0 50,000
REDWOOD TR INC COM 758075402 142 7,226 SH   OTR   0 0 7,226
RENTECH INC COM 760112102 11 5,792 SH   OTR   0 0 5,792
RESMED INC COM 761152107 121 2,294 SH   OTR   0 0 2,294
ROCKWELL AUTOMATION INC COM 773903109 181 1,696 SH   OTR   0 0 1,696
ROYAL GOLD INC COM 780287108 173 3,563 SH   OTR   0 0 3,563
RUBICON MINERALS CORP COM 780911103 77 61,044 SH   OTR   0 0 61,044
RUBY TUESDAY INC COM 781182100 373 49,782 SH   OTR   0 0 49,782
RUCKUS WIRELESS INC COM 781220108 52 3,100 SH   OTR   0 0 3,100
RYLAND GROUP INC COM 783764103 155 3,813 SH   OTR   0 0 3,813
SILVER WHEATON CORP COM 828336107 267 10,778 SH   OTR   0 0 10,778
SOUFUN HLDGS LTD ADR 836034108 41 800 SH   OTR   0 0 800
SPECTRA ENERGY CORP COM 847560109 154 4,485 SH   OTR   0 0 4,485
SUNSTONE HOTEL INVS INC NEW CV 8% CUM PFD-D 867892507 80 3,195 SH   SOLE   3,195 0 0
T-MOBILE US INC COM 872590104 174 6,700 SH   OTR   0 0 6,700
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 80 4,702 SH   OTR   0 0 4,702
TESORO CORP COM 881609101 170 3,875 SH   OTR   0 0 3,875
TRINITY INDS INC COM 896522109 356 7,861 SH   OTR   0 0 7,861
UMH PROPERTIES INC CV RED PFD-A 903002202 704 26,634 SH   SOLE   26,634 0 0
UNDER ARMOUR INC CL A 904311107 95 1,200 SH   OTR   0 0 1,200
WABTEC CORP COM 929740108 147 2,340 SH   OTR   0 0 2,340
WEYERHAEUSER CO COM 962166104 178 6,200 SH   OTR   0 0 6,200
WILLIAMS COS INC DEL COM 969457100 90 2,484 SH   OTR   0 0 2,484
WINTHROP RLTY TR SH BEN INT NEW 976391300 223 20,000 SH   SOLE   20,000 0 0
YELP INC CL A 985817105 258 3,900 SH   OTR   0 0 3,900
EXPRESS INC COM 30219E103 708 30,000 SH   OTR   0 0 30,000
AMERICAN EAGLE OUTFITTERS NEW COM 02553E106 420 30,000 SH   OTR   0 0 30,000
TARGET CORP COM 87612E106 864 13,500 SH   OTR   0 0 13,500
ACTAVIS INC COM 00507K103 144 1,000 SH   OTR   0 0 1,000
ADVANCE AUTO PARTS INC COM 00751Y106 744 9,000 SH   OTR   0 0 9,000
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 228 3,564 SH   OTR   0 0 3,564
AMERICAN RAILCAR INDS INC COM 02916P103 206 5,241 SH   OTR   0 0 5,241
APOLLO COML REAL EST FIN INC COM 03762U105 1,079 68,400 SH   SOLE   68,400 0 0
AURICO GOLD INC COM 05155C105 66 17,250 SH   OTR   0 0 17,250
BABCOCK & WILCOX CO NEW COM 05615F102 149 4,425 SH   OTR   0 0 4,425
BIOGEN IDEC INC COM 09062X103 236 983 SH   OTR   0 0 983
CVR ENERGY INC COM 12662P108 180 4,679 SH   OTR   0 0 4,679
CHART INDS INC COM PAR $0.01 16115Q308 149 1,208 SH   OTR   0 0 1,208
CHATHAM LODGING TR COM 16208T102 143 8,000 SH   SOLE   8,000 0 0
COMCAST CORP NEW CL A 20030N101 158 3,498 SH   OTR   0 0 3,498
D R HORTON INC COM 23331A109 174 8,948 SH   OTR   0 0 8,948
DIREXION SHS ETF TR 20YR TRES BEAR 25459Y678 119 1,750 SH   SOLE   1,750 0 0
EOG RES INC COM 26875P101 85 500 SH   OTR   0 0 500
EPR PPTYS CONV PFD 9% SR E 26884U307 1,388 44,194 SH   SOLE   44,194 0 0
ENDEAVOUR SILVER CORP COM 29258Y103 79 18,400 SH   OTR   0 0 18,400
FEI CO COM 30241L109 155 1,762 SH   OTR   0 0 1,762
FACEBOOK INC CL A 30303M102 330 6,568 SH   OTR   0 0 6,568
FELCOR LODGING TR INC PFD CV A $1.95 31430F200 615 25,000 SH   SOLE   25,000 0 0
FIDELITY NATIONAL FINANCIAL CL A 31620R105 128 4,805 SH   OTR   0 0 4,805
FIRST MAJESTIC SILVER CORP COM 32076V103 164 13,842 SH   OTR   0 0 13,842
GENERAL MTRS CO COM 37045V100 206 5,734 SH   OTR   0 0 5,734
GOLDMAN SACHS GROUP INC COM 38141G104 145 916 SH   OTR   0 0 916
GOOGLE INC CL A 38259P508 150 171 SH   OTR   0 0 171
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 217 8,600 SH   SOLE   8,600 0 0
GRAMERCY PPTY TR INC COM 38489R100 288 64,100 SH   SOLE   64,100 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 140 16,900 SH   SOLE   16,900 0 0
ISHARES FLTG RATE BD ETF 46429B655 81 1,591 SH   OTR   0 0 1,591
KKR FINL HLDGS LLC COM 48248A306 62 6,000 SH   SOLE   6,000 0 0
KINDER MORGAN INC DEL COM 49456B101 131 3,692 SH   OTR   0 0 3,692
LINKEDIN CORP COM CL A 53578A108 74 300 SH   OTR   0 0 300
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 171 3,200 SH   OTR   0 0 3,200
MARATHON PETE CORP COM 56585A102 120 1,861 SH   OTR   0 0 1,861
MARKETO INC COM 57063L107 48 1,500 SH   OTR   0 0 1,500
MEDLEY CAP CORP COM 58503F106 22 1,600 SH   OTR   0 0 1,600
MERITAGE HOMES CORP COM 59001A102 99 2,298 SH   OTR   0 0 2,298
NQ MOBILE INC ADR REPSTG CL A 64118U108 17 800 SH   OTR   0 0 800
PIMCO ETF TR TOTL RETN ETF 72201R775 94 892 SH   OTR   0 0 892
PINNACLE FOODS INC DEL COM 72348P104 31 1,300 SH   SOLE   1,300 0 0
POWERSHARES GLOBAL ETF FD S&P 500 BUYWRT 73936G308 62 3,095 SH   OTR   0 0 3,095
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 64 2,581 SH   OTR   0 0 2,581
POWERSHARES GLOBAL ETF TRUST SOVEREIGN DEBT 73936T573 72 2,651 SH   OTR   0 0 2,651
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 126 4,039 SH   OTR   0 0 4,039
PREFERRED APT CMNTYS INC COM 74039L103 514 57,142 SH   SOLE   57,142 0 0
PRETIUM RES INC COM 74139C102 175 25,374 SH   OTR   0 0 25,374
PROSHARES TR II VIX STRMFUT ETF 74347W361 592 15,000 SH   OTR   0 0 15,000
REGULUS THERAPEUTICS INC COM 75915K101 185 19,661 SH   OTR   0 0 19,661
RESOURCE CAP CORP COM 76120W302 161 26,100 SH   SOLE   26,100 0 0
SPDR SERIES TRUST DB INT GVT ETF 78464A490 47 794 SH   OTR   0 0 794
SALESFORCE COM INC COM 79466L302 296 5,700 SH   OTR   0 0 5,700
SERVICENOW INC COM 81762P102 21 400 SH   OTR   0 0 400
SOHU COM INC COM 83408W103 126 1,600 SH   OTR   0 0 1,600
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 228 20,711 SH   OTR   0 0 20,711
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 228 26,161 SH   OTR   0 0 26,161
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 544 61,043 SH   OTR   0 0 61,043
STANDARD PAC CORP NEW COM 85375C101 192 24,280 SH   OTR   0 0 24,280
STARWOOD PPTY TR INC COM 85571B105 96 4,000 SH   SOLE   4,000 0 0
STILLWATER MNG CO COM 86074Q102 120 10,874 SH   OTR   0 0 10,874
STRATEGIC HOTELS & RESORTS I COM 86272T106 1,374 155,100 SH   SOLE   155,100 0 0
SYNAPTICS INC COM 87157D109 119 2,695 SH   OTR   0 0 2,695
TEKMIRA PHARMACEUTICALS CORP COM NEW 87911B209 84 11,979 SH   OTR   0 0 11,979
3-D SYS CORP DEL COM NEW 88554D205 70 1,300 SH   OTR   0 0 1,300
TIMMINS GOLD CORP COM 88741P103 64 38,312 SH   OTR   0 0 38,312
TRANSCANADA CORP COM 89353D107 162 3,679 SH   OTR   0 0 3,679
TWENTY FIRST CENTY FOX INC CL A 90130A101 67 2,000 SH   OTR   0 0 2,000
VALERO ENERGY CORP NEW COM 91913Y100 134 3,917 SH   OTR   0 0 3,917
VERTEX PHARMACEUTICALS INC COM 92532F100 61 800 SH   OTR   0 0 800
WISDOMTREE TR JAPN HEDGE EQT 97717W851 187 3,900 SH   OTR   0 0 3,900
YOUKU TUDOU INC SPONSORED ADR 98742U100 22 800 SH   OTR   0 0 800
AON PLC SHS CL A G0408V102 30 400 SH   OTR   0 0 400
HERBALIFE LTD COM USD SHS G4412G101 56 800 SH   OTR   0 0 800
MICHAEL KORS HLDGS LTD SHS G60754101 89 1,200 SH   OTR   0 0 1,200
SINA CORP ORD G81477104 97 1,200 SH   OTR   0 0 1,200
GOLAR LNG LTD BERMUDA SHS G9456A100 100 2,655 SH   OTR   0 0 2,655
COMPUGEN LTD ORD M25722105 207 20,139 SH   OTR   0 0 20,139