13F-HR 1 f093010.txt FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2010 Institutional Investment Manager Filing this Report: NAME: Glickenhaus & Co. ADDRESS: 546 Fifth Avenue New York, NY 10036 13F File Number: The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Linda Anderson Title: Director and Principal Phone: 212-953-7872 Signature, Place, and Date of Signing: Linda Anderson New York, NY October 25, 2010 Report Type Type: [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 287 FORM 13F INFORMATION TABLE VALUE TOTAL: $1,045,563,000 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 100,000THS ENBRIDGE ENERGY MGT COM CKC50X106 0 303659 SH SOLE 0 0 303659 A T & T INC (NEW) COM 00206R102 351 12272 SH DEFINED 2255 1030 8987 ABBOTT LABS COM 002824100 11733 224600 SH SOLE 189100 0 35500 ACUITY BRANDS INC COM COM 00508Y102 221 5000 SH SOLE 5000 0 0 AIG INTL LEASE 5.00 09/15/12 CORPORATE BONDS 459745FR1 348 350000 PRN SOLE 225000 0 125000 AIG INTL LS FIN CORP 5.55 09/0 CORPORATE BONDS 45974VA73 401 400000 PRN SOLE 300000 0 100000 ALBANY NY MUN WTR 5.250% 12/01 MUNICIPAL BONDS 01244QAS5 251 250000 PRN SOLE 250000 0 0 ALCOA, INC. COM 013817101 20859 1722502 SH SOLE 1504335 0 218167 AMGEN INC COM 031162100 7286 132200 SH SOLE 109300 0 22900 AMR CORP DEL COM 001765106 706 112600 SH SOLE 88250 0 24350 ANADARKO PETE CODTD 09/19/0 5. CORPORATE BONDS 032511AX5 655 600000 PRN SOLE 400000 0 200000 ANADARKO PETRO 7.625% 03/15/14 CORPORATE BONDS 032511BD8 2280 2015000 PRN SOLE 1900000 0 115000 AON CORP COM COM 037389103 1807 46200 SH SOLE 39400 0 6800 ARCELORMITTAL STEEL 6.125% 06/ CORPORATE BONDS 03938LAF1 487 450000 PRN SOLE 350000 0 100000 ASTRATA GROUP INC COM COM 04634R106 0 76435 SH SOLE 76435 0 0 ATLANTA GA TAX ALLOC 5.000% 12 MUNICIPAL BONDS 047849CD4 220 200000 PRN SOLE 200000 0 0 ATLAS ENERGY INC COM 049298102 6140 214390 SH SOLE 195318 0 19072 AURORA OIL & GAS CORP COM COM 052036100 6 639700 SH SOLE 593400 0 46300 AXIS CAPITAL HLDGS LTD COM G0692U109 10556 320457 SH SOLE 281659 0 38798 B A S F A G SPONSORED ADR COM 055262505 406 6400 SH SOLE 6200 0 200 BANK OF AMERICA COM 060505104 9064 691751 SH SOLE 605043 0 86708 BANK OF AMERICA CORPORATION 7. PREFERRED STOCKS 060505682 274 278 SH SOLE 18 0 260 BANK OF NEW YORK MELLON CORPOR COM 064058100 242 9257 SH SOLE 9257 0 0 BAXTER INTL INC COM 071813109 11358 238071 SH SOLE 199271 0 38800 BEAZER HOMES USA INC COM 07556Q105 147 35600 SH SOLE 33300 0 2300 BLACK RAVEN ENERGY, INC. COM 092164102 0 30469 SH SOLE 30469 0 0 BLACK RAVEN WTS. @ 2.50 EXP.12 WARRANT AND RIGH 999999999 0 30469 SH SOLE 30469 0 0 BOARDWALK PIPELINE PART. COM 096627104 18227 558269 SH SOLE 483966 0 74303 BP P L C SPONSORED ADR COM 055622104 219 5325 SH DEFINED 725 3000 1600 BP PRUDHOE BAY RTY TR UNIT BEN COM 055630107 4072 39400 SH SOLE 36300 0 3100 BROWARD CNTY FL SER A 5.375% 1 MUNICIPAL BONDS 115064AQ0 501 500000 PRN SOLE 500000 0 0 CABOT OIL & GAS CORP COM 127097103 2776 92200 SH SOLE 70100 0 22100 CALIFORNIA ST RFDG 5.250% 10/0 MUNICIPAL BONDS 130628V98 235 225000 PRN SOLE 225000 0 0 CALUMET SPECIALTY PRODS PTNRUT COM 131476103 860 43600 SH SOLE 42900 0 700 CAPE CORAL FL WTR & SWR BAN 6. MUNICIPAL BONDS 139372NR3 205 200000 PRN SOLE 200000 0 0 CAPLEASE INC PFD SER A PREFERRED STOCKS 140288200 419 16500 SH SOLE 500 0 16000 CHC WTS TO PURCHASE CHC @$15 E WARRANT AND RIGH G2112E145 6 12000 SH SOLE 8800 0 3200 CHEVRONTEXACO CORPORATION COM 166764100 884 10908 SH DEFINED 7861 2900 147 CHINA HYDROELECTRIC CORP COM 16949D101 70 12000 SH SOLE 8800 0 3200 CHUBB CORP COM 171232101 907 15908 SH SOLE 14960 0 948 CITIZENS PPTY INS FL 4.000% 06 MUNICIPAL BONDS 176553EM3 1123 1100000 PRN SOLE 975000 0 125000 COLONIE NY GO 3.000% 07/15/11 MUNICIPAL BONDS 196144Z36 626 620000 PRN SOLE 100000 0 520000 COMCAST CORP CL A SPL COM 20030N200 449 26392 SH SOLE 23250 0 3142 COMPTON CA REDEV 5.000% 08/01/ MUNICIPAL BONDS 204712HF3 305 300000 PRN SOLE 300000 0 0 CONOCOPHILLIPS COM COM 20825C104 550 9579 SH SOLE 6587 0 2992 CONSTELLATION ENERGY PARTNER COM 21038E101 244 84600 SH SOLE 60100 0 24500 CONTINENTAL AIRLS INC CL B COM 210795308 2115 85131 SH SOLE 76165 0 8966 CORNING INC COM 219350105 446 24403 SH SOLE 2000 0 22403 COVANTA HLDG CORP COM 22282E102 2407 152800 SH SOLE 125300 0 27500 CT 5.000% 11/01/14 MUNICIPAL BONDS 20772GT73 289 250000 PRN SOLE 250000 0 0 CUMBERLAND CNTY NJ SOLID WA 5. MUNICIPAL BONDS 230568BG1 273 250000 PRN SOLE 75000 0 175000 D R HORTON INC COM 23331A109 1506 135391 SH SOLE 96526 0 38865 DELAWARE CNTY PA IDA PECO 4.00 MUNICIPAL BONDS 246015BL4 211 200000 PRN SOLE 200000 0 0 DENBURY RES INC COM 247916208 2960 186253 SH SOLE 168553 0 17700 DENBURY RES. 7.500% 12/15/15 CORPORATE BONDS 24823UAF5 908 875000 PRN SOLE 755000 0 120000 DEVON ENERGY CORP COM 25179M103 13343 206105 SH SOLE 177600 0 28505 DHT MARITIME,INC COM Y2065G105 2737 662764 SH SOLE 451365 0 211399 DIANA SHIPPING INC COM Y2066G104 4161 327600 SH SOLE 274500 0 53100 DOW CHEMICAL CORP COM 260543103 17787 647731 SH SOLE 591445 0 56286 DREYFUS STRATEGIC MUN BD FD CO MUNICIPAL BOND F 26202F107 349 40000 SH SOLE 40000 0 0 DU PONT E I DE NEMOURS CO COM 263534109 1353 30325 SH SOLE 29700 0 625 DUKE ENERGY CORP COM 26441C105 1367 77208 SH SOLE 71308 0 5900 DUTCHESS CNTY NY IDA BARD C 5. MUNICIPAL BONDS 267041FT3 386 350000 PRN SOLE 250000 0 100000 EAGLE BULK SHIPPING COM Y2187A101 12527 2399825 SH SOLE 2172973 0 226852 EDGAR ONLINE INC COM COM 279765101 172 141390 SH SOLE 8300 0 133090 ENBRIDGE ENERGY PARTNERS L PCO COM 29250R106 8614 154038 SH SOLE 146266 0 7772 ENCORE ENERGY LP COM 29257A106 10841 572398 SH SOLE 504266 0 68132 ENERGY TRANS. EQUITY LP COM 29273V100 17199 463332 SH SOLE 421081 0 42251 ENERGY TRANSFER PARTNERS COM 29273R109 49645 1028269 SH SOLE 934930 0 93339 ENERPLUS RES FD TR UNIT NEW COM 29274D604 14284 554720 SH SOLE 500803 0 53917 ENTERPRISE PRODS PART. COM 293792107 124243 3131914 SH SOLE 2927315 0 204599 EOG RESOURCES INC. COM 26875P101 8010 86152 SH SOLE 75585 0 10567 EQUAL ENERGY LTD COM 29390Q109 365 78976 SH SOLE 73964 0 5012 ERIE CNTY NY 5.250% 04/01/16 MUNICIPAL BONDS 295084CN5 364 335000 PRN SOLE 200000 0 135000 EUROSEAS LTD COM NEW COM Y23592200 40 10000 SH SOLE 10000 0 0 EVOLUTION PETROLEUM CORP COM COM 30049A107 141 23501 SH SOLE 23501 0 0 EXCEL MARITIME CARRIERS LTD CO COM V3267N107 3549 631533 SH SOLE 509824 0 121709 EXXON CORPORATION COM 30231G102 1772 28685 SH DEFINED 9353 4200 15132 E-470 PPUB HWY COLO 5.750% 09/ MUNICIPAL BONDS 26822LAD6 340 315000 PRN SOLE 115000 0 200000 FALL RIVER MA 4.200% 07/15/20 MUNICIPAL BONDS 306297YS5 314 300000 PRN SOLE 300000 0 0 FIRST INTERSTATE BANK SYSTEMS COM 32055Y201 606 45000 SH SOLE 42700 0 2300 FL DEPT CHD SVC 4.50 10/01/10 MUNICIPAL BONDS 34160EAV6 360 360000 PRN SOLE 360000 0 0 FL DEPT MGMT SVC 2.00% 08/01/1 MUNICIPAL BONDS 34160PCN7 505 500000 PRN SOLE 500000 0 0 FL DEPT OF CHILD 5.00% 04/01/1 MUNICIPAL BONDS 34160EBQ6 261 250000 PRN SOLE 250000 0 0 FL MUN LN COUNCIL 5.250% 11/01 MUNICIPAL BONDS 342815GF8 489 470000 PRN SOLE 470000 0 0 FL MUN PWR 5.000% 10/01/13 MUNICIPAL BONDS 342816WP6 221 200000 PRN SOLE 200000 0 0 FLORIDA ST DEPT TRANS RIGHT 5. MUNICIPAL BONDS 341150QQ6 207 200000 PRN SOLE 0 0 200000 FORD MTR CR CO DTD 10/25/0 7.2 CORPORATE BONDS 345397TY9 262 250000 PRN SOLE 250000 0 0 FORTESCUE METAL GROUP, LTD. FOREIGN COMMON S XR6086253 23870 4748950 SH SOLE 4271800 0 477150 GENERAL ELEC CO COM 369604103 2617 161034 SH DEFINED 107501 3000 50533 GENERAL MARITIME COM Y2693R101 230 46900 SH SOLE 45560 0 1340 GIBRALTAR INDUSTRIES INC COM 374689107 1281 142700 SH SOLE 141300 0 1400 GLOBAL GEOPHYSICAL SERV. COM 37946S107 5163 708200 SH SOLE 648700 0 59500 GLOBE SPECIALTY METALS INC SHS COM U3626X102 239 17000 SH SOLE 17000 0 0 GULF COAST TX WSTE DISP 5.000% MUNICIPAL BONDS 401905BV5 203 190000 PRN SOLE 190000 0 0 HARRIS CNTY TX MTA 4.000% 11/0 MUNICIPAL BONDS 41421NAH7 217 200000 PRN SOLE 200000 0 0 HEWLETT PACKARD CO COM 428236103 12927 307282 SH SOLE 247970 0 59312 HOLYOKE MA 5.000% 06/15/15 MUNICIPAL BONDS 4367043J7 222 200000 PRN SOLE 175000 0 25000 HONEYWELL INTERNATIONAL, INC. COM 438516106 470 10700 SH SOLE 10300 0 400 I B M COM 459200101 18928 141104 SH SOLE 111486 0 29618 ILLINOIS FIN AUTH REV PROVE 5. MUNICIPAL BONDS 45200FT82 213 200000 PRN SOLE 200000 0 0 INERGY L P COM 456615103 10336 260680 SH SOLE 233380 0 27300 INGERSOLL RAND 9.500% 04/15/14 CORPORATE BONDS 45687AAE2 1231 995000 PRN SOLE 595000 0 400000 INGERSOLL-RAND PLC COM G47791101 4469 125150 SH SOLE 117800 0 7350 INTERNATIONAL PAPER CO COM 460146103 410 18845 SH SOLE 12655 0 6190 INTL LEASE FIN CORP 6.375% 03/ CORPORATE BONDS 45974VB72 513 510000 PRN SOLE 310000 0 200000 ISTAR FINL INC COM COM 45031U101 36 11845 SH SOLE 10640 0 1205 J.P. MORGAN CHASE & CO COM 46625H100 1914 50280 SH DEFINED 30671 2000 17609 JAX ELEC FL 4.000% 10/01/13 MUNICIPAL BONDS 46613QEJ9 272 250000 PRN SOLE 250000 0 0 JOHN DEERE CAP. 5.25 10/01/12 GOVERNMENT AGENC 24422EQW2 543 500000 PRN SOLE 445000 0 55000 JOHNSON & JOHNSON COM 478160104 11892 191929 SH SOLE 158454 0 33475 KANSAS CITY MO SPL OB 5.250% 0 MUNICIPAL BONDS 485106CB2 229 200000 PRN SOLE 200000 0 0 KINDER MORGAN EGY PTNS L P UT COM 494550106 815 11900 SH SOLE 11100 0 800 K-SEA TRANSPORTATION PARTNER COM 48268Y101 423 103426 SH SOLE 96029 0 7397 LABORATORY CORP AMER HLDGS COM COM 50540R409 553 7050 SH SOLE 6850 0 200 LIBERTY MEDIA HLDG CORP INT CO COM 53071M104 231 16828 SH SOLE 15653 0 1175 LINCOLN NATIONAL COM 534187109 4283 179055 SH SOLE 148455 0 30600 LOEWS CORP COM 540424108 5566 146850 SH SOLE 129550 0 17300 LONG ISLAND POWER 5.00% DUE 9/ MUNICIPAL BONDS 542690VC3 210 200000 PRN SOLE 200000 0 0 MA 5.500% 11/01/11 MUNICIPAL BONDS 57582NDH5 316 300000 PRN SOLE 75000 0 225000 MARATHON OIL CORP 6.500% 02/15 CORPORATE BONDS 565849AG1 689 600000 PRN SOLE 500000 0 100000 MARKWEST ENERGY PARTNERS L PUN COM 570759100 14285 397682 SH SOLE 352316 0 45366 MAS H & E COVENANT 5.000% 07/0 MUNICIPAL BONDS 57586DAJ2 276 260000 PRN SOLE 260000 0 0 MASS H&E 5.00 05/15/25 MUNICIPAL BONDS 57585K8T8 231 240000 PRN SOLE 140000 0 100000 MASS H&E NRTHEASTN UNIV 5.000% MUNICIPAL BONDS 57586EEU1 200 200000 PRN SOLE 100000 0 100000 MASS H&E SIMMONS COLL 6.000% 1 MUNICIPAL BONDS 57586EEB3 558 500000 PRN SOLE 400000 0 100000 MASS PORT 5.750% 07/01/12 MUNICIPAL BONDS 575895XR3 434 400000 PRN SOLE 200000 0 200000 MCDONALDS CORP COM 580135101 402 5399 SH SOLE 5399 0 0 METLIFE INC COM 59156R108 6478 168479 SH SOLE 153212 0 15267 MFS INTER INCOME TRUST SH BEN CORPORATE BOND F 55273C107 110 16034 SH SOLE 16034 0 0 MIAMI DADE FL SCH 4.000% 11/01 MUNICIPAL BONDS 59333MNA9 398 380000 PRN SOLE 380000 0 0 MICROSOFT CORP COM 594918104 315 12856 SH SOLE 11056 0 1800 MO JT ELEC 5.000% 01/01/16 MUNICIPAL BONDS 606092AE4 500 455000 PRN SOLE 255000 0 200000 MOLY MINES, LTD. FOREIGN COMMON S Q6320J100 204 1008000 SH SOLE 1008000 0 0 MONMOUTH REAL ESTATE INVT COCL COM 609720107 93 11900 SH SOLE 2400 0 9500 MONROE CNTY GA PCR OAGLETHORPE MUNICIPAL BONDS 610530EG8 203 200000 PRN SOLE 200000 0 0 MORGAN STANLY DN WTTR COM 617446448 8287 335785 SH SOLE 278890 0 56895 NAVIOS MARITIME ACQUIS CORP SH COM Y62159101 629 114400 SH SOLE 98300 0 16100 NAVIOS MARITIME HOLDINGS COM Y62196103 44094 7511834 SH SOLE 7042997 0 468837 NAVIOS MARITIME PART. COM Y62267102 31034 1670293 SH SOLE 1447833 0 222460 NC EASTERN MUN PWR AGY 4.000% MUNICIPAL BONDS 658196Y20 274 250000 PRN SOLE 250000 0 0 NC PWR CATAWBA 5.250% 01/01/13 MUNICIPAL BONDS 658203G81 275 250000 PRN SOLE 250000 0 0 NC PWR CATAWBA 5.250% 01/10/18 MUNICIPAL BONDS 658203K52 291 250000 PRN SOLE 250000 0 0 NEW DRAGON ASIA CORP CL A COM 64378H102 5 90000 SH SOLE 90000 0 0 NEW FLYER INDS INC/NEW FLR CIN UNITS 64438R306 2836 246640 SH SOLE 157890 0 88750 NEW HAMPSHIRE HLTH 5.00 07/01/ MUNICIPAL BONDS 644614TL3 214 200000 PRN SOLE 200000 0 0 NEW YORK NY 5.00 08/01/19 MUNICIPAL BONDS 64966FV84 822 725000 PRN SOLE 300000 0 425000 NEW YORK NY 5.000% 09/01/19 MUNICIPAL BONDS 64966HAV2 496 425000 PRN SOLE 325000 0 100000 NEW YORK ST DORM AUTH REVS RFD MUNICIPAL BONDS 64983TY98 351 325000 PRN SOLE 175000 0 150000 NEW YORK ST DORM AUTH. 4.000% MUNICIPAL BONDS 649901CA1 217 212500 PRN SOLE 162500 0 50000 NEW YORK ST HSG FIN AG SR K 5. MUNICIPAL BONDS 64986BAY5 661 650000 PRN SOLE 600000 0 50000 NEW YORK ST TWY 4.100% 04/01/1 MUNICIPAL BONDS 650013XV2 306 300000 PRN SOLE 300000 0 0 NEW YORK STATE DORM AUTH 4.000 MUNICIPAL BONDS 649901LP8 315 300000 PRN SOLE 250000 0 50000 NEW YORK STATE DORM AUTH 4.200 MUNICIPAL BONDS 649901KK0 573 545000 PRN SOLE 545000 0 0 NEWMONT MNG CORP COM 651639106 251 4000 SH SOLE 4000 0 0 NH HEALTH & ED 3.250% 08/01/13 MUNICIPAL BONDS 644614YY9 357 345000 PRN SOLE 245000 0 100000 NIAGARA FALLS NY CSD 5.000% 06 MUNICIPAL BONDS 653424CJ8 441 420000 PRN SOLE 420000 0 0 NJ ED KEAN UNIV 5.000% 09/01/2 MUNICIPAL BONDS 646065ZS4 278 250000 PRN SOLE 100000 0 150000 NJ EDA 5.00 09/01/29 MND PUT 0 MUNICIPAL BONDS 645918LR2 221 200000 PRN SOLE 0 0 200000 NJ EDA 5.000% 03/01/17 MUNICIPAL BONDS 645918PL1 630 550000 PRN SOLE 375000 0 175000 NJ EDA 5.875% 06/01/18 MUNICIPAL BONDS 64577HLE9 516 500000 PRN SOLE 200000 0 300000 NJ HLTH CARE FAC 5.250% 10/01/ MUNICIPAL BONDS 64580AAK7 231 200000 PRN SOLE 100000 0 100000 NJ HLTH CARE FAC 5.500% 10/01/ MUNICIPAL BONDS 64580AAL5 336 300000 PRN SOLE 100000 0 200000 NJ HSG 6.375% 10/01/28 MUNICIPAL BONDS 6461292E5 220 200000 PRN SOLE 0 0 200000 NJ TRANS 4.000% 12/15/17 MUNICIPAL BONDS 646136PT2 501 500000 PRN SOLE 100000 0 400000 NOBLE CORPORATION BAAR NAMEN - COM H5833N103 1311 38800 SH SOLE 35500 0 3300 NORTH TEXAS TOLL AUTH 6.000% 0 MUNICIPAL BONDS 66285WAM8 289 250000 PRN SOLE 250000 0 0 NUSTAR ENERGY LP UNIT COM 67058H102 27573 446666 SH SOLE 439134 0 7532 NUSTAR GP HOLDINGS COM 67059L102 18496 545273 SH SOLE 473341 0 71932 NUVEEN MUN MKT OPPORTNTY FD CO MUNICIPAL BOND F 67062W103 372 25000 SH SOLE 25000 0 0 NV ENERGY INC COM COM 67073Y106 4963 377398 SH SOLE 365266 0 12132 NY ST DORM AUTH 5.100% 02/01/1 MUNICIPAL BONDS 649839H83 201 200000 PRN SOLE 0 0 200000 NYC IDA USTA 5.000% 11/15/11 MUNICIPAL BONDS 64971C2U7 259 250000 PRN SOLE 250000 0 0 NYS DORM AUTH REVS SR B 5.250% MUNICIPAL BONDS 64983W8P4 267 250000 PRN SOLE 250000 0 0 NYS ENG 5.150% 11/01/25 MUNICIPAL BONDS 649845ED2 1598 1595000 PRN SOLE 1130000 0 465000 NYS ENV 5.000% 03/15/18 MUNICIPAL BONDS 649849BK1 1078 1000000 PRN SOLE 600000 0 400000 NYS MTG 5.250% 10/01/12 MUNICIPAL BONDS 649886L48 501 500000 PRN SOLE 400000 0 100000 NYS MTG AGY 5.000% 10/01/17 MUNICIPAL BONDS 649886ZP6 501 500000 PRN SOLE 200000 0 300000 NYS MUNI BOND BANK 5.250% 12/0 MUNICIPAL BONDS 64988TED6 1714 1600000 PRN SOLE 1000000 0 600000 NYS TWY 5.250% 04/01/14 MUNICIPAL BONDS 650014EP4 286 250000 PRN SOLE 250000 0 0 NYS TWY AUTH HWY & BRDG TR 4.0 MUNICIPAL BONDS 650013D77 210 200000 PRN SOLE 200000 0 0 NYS TWY AUTH HWY & BRDG TR 5.2 MUNICIPAL BONDS 650013ZP3 307 300000 PRN SOLE 0 0 300000 NYSDA 4.000% 02/15/13 MUNICIPAL BONDS 64983M5J3 777 730000 PRN SOLE 680000 0 50000 NYSDA 4.125% 02/15/14 MUNICIPAL BONDS 64983M6N3 1132 1035000 PRN SOLE 835000 0 200000 NYSDA 5.000% 07/01/11 MUNICIPAL BONDS 64983TA52 361 350000 PRN SOLE 350000 0 0 NYSDA 5.250% 07/01/13 MUNICIPAL BONDS 64971CGK4 201 200000 PRN SOLE 200000 0 0 NYSDA 5.250% 11/15/13 MUNICIPAL BONDS 649901MC6 570 525000 PRN SOLE 500000 0 25000 NYSDA 5.50 07/01/23 MUNICIPAL BONDS 64983USF8 205 200000 PRN SOLE 100000 0 100000 NYSDA 5.500% 07/01/11 MUNICIPAL BONDS 64983XQR8 489 480000 PRN SOLE 330000 0 150000 NYSDA 5.500% 11/01/13 MUNICIPAL BONDS 649838A66 257 235000 PRN SOLE 0 0 235000 NYSDA 6.000% 07/01/14 MUNICIPAL BONDS 649834JB5 568 515000 PRN SOLE 515000 0 0 NYSDA 6.050% 02/01/26 MUNICIPAL BONDS 64983WYL4 341 340000 PRN SOLE 240000 0 100000 NYSDA 6.250% 07/01/20 MUNICIPAL BONDS 64983XKK9 699 690000 PRN SOLE 300000 0 390000 NYSDA ARC 3.000% 07/01/11 MUNICIPAL BONDS 649905HD1 202 200000 PRN SOLE 100000 0 100000 NYSDA ARC 4.000% 07/01/12 MUNICIPAL BONDS 649905HE9 260 250000 PRN SOLE 150000 0 100000 NYSDA CITY UNIV 5.000% 07/01/1 MUNICIPAL BONDS 64983M2A5 253 215000 PRN SOLE 215000 0 0 NYSDA CLD SVC 5.000% 06/01/18 MUNICIPAL BONDS 649903D57 583 500000 PRN SOLE 100000 0 400000 NYSDA FIT 5.250% 07/01/15 MUNICIPAL BONDS 64983TRW5 223 200000 PRN SOLE 200000 0 0 NYSDA MANHATTAN COLL 5.500% 07 MUNICIPAL BONDS 64983XQY3 306 300000 PRN SOLE 0 0 300000 NYSDA MENTAL 5.000% 02/15/19 MUNICIPAL BONDS 64983MGP7 280 250000 PRN SOLE 0 0 250000 NYSDA MONTE 5.000% 08/01/14 MUNICIPAL BONDS 64983QMC0 310 275000 PRN SOLE 225000 0 50000 NYSDA MT SINAI HSP 5.000% 07/0 MUNICIPAL BONDS 649905Q33 339 300000 PRN SOLE 100000 0 200000 NYSE EURONEXT COM 629491101 691 24200 SH SOLE 24200 0 0 OCCIDENTAL PETE COM 674599105 15247 194720 SH SOLE 169600 0 25120 ONTARIO CNTY, NY 5.200% 05/15/ MUNICIPAL BONDS 683055QB6 300 300000 PRN SOLE 300000 0 0 OPKO HEALTH INC COM COM 68375N103 45 20000 SH SOLE 20000 0 0 ORLANDO FL REDEV TX 4.000% 09/ MUNICIPAL BONDS 686430EN5 263 250000 PRN SOLE 250000 0 0 ORLANDO FL UTIL 6.000% 10/01/1 MUNICIPAL BONDS 686509UX6 270 270000 PRN SOLE 270000 0 0 PA EDA EINSTEIN HLTH 6.250% 10 MUNICIPAL BONDS 70868WAJ2 326 300000 PRN SOLE 300000 0 0 PAA NATURAL GAS STORAGE LP COM 693139107 3698 153200 SH SOLE 144800 0 8400 PACKAGING CORP AMER COM 695156109 12021 518832 SH SOLE 442958 0 75874 PANAMA CITY BCH FL 4.250% 11/0 MUNICIPAL BONDS 698148AF0 370 350000 PRN SOLE 350000 0 0 PARAGON SHIPPING COM 69913R309 619 157100 SH SOLE 142500 0 14600 PATRIOT COAL CORP COM COM 70336T104 354 31003 SH SOLE 27557 0 3446 PEABODY ENERGY CORP COM 704549104 6401 130598 SH SOLE 117066 0 13532 PENGROWTH ENERGY TRUST COM 706902509 1407 127226 SH SOLE 96776 0 30450 PENN VIRGINIA GP COM 70788P105 3328 145600 SH SOLE 127100 0 18500 PENN VIRGINIA RESOURCE PART COM 707884102 11031 447499 SH SOLE 430533 0 16966 PFIZER INC COM 717081103 27549 1604492 SH DEFINED 1396567 1400 206525 PIONEER NAT RES COM 723787107 15482 238078 SH SOLE 198178 0 39900 PIONEER SW ENERGY LP COM 72388B106 19275 701661 SH SOLE 634948 0 66713 PLAINS ALL AMERN PIPELINE L UN COM 726503105 30234 480592 SH SOLE 434018 0 46574 POLK FL SCH BD 3.000% 01/01/15 MUNICIPAL BONDS 731125JU5 256 250000 PRN SOLE 250000 0 0 PORT AUTH NY & NJ CONS 85TH 5. 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MUNICIPAL BONDS 773562CJ0 207 200000 PRN SOLE 200000 0 0 SAFE BULKERS INC COM Y7388L103 14995 1895650 SH SOLE 1732990 0 162660 SAN ANTONIO TX WTR 5.000% 05/1 MUNICIPAL BONDS 796422H89 512 500000 PRN SOLE 500000 0 0 SARATOGA CNTY NY IDA 5.000% 12 MUNICIPAL BONDS 803482CH9 245 235000 PRN SOLE 235000 0 0 SARATOGA CNTY NY INDL DEV A 4. 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MUNICIPAL BONDS 89602NBD5 352 325000 PRN SOLE 275000 0 50000 TUPPER LAKE NY 4.000% 06/15/13 MUNICIPAL BONDS 899887DN0 259 250000 PRN SOLE 250000 0 0 U S TREAS BILLS DTD 04/29/10 1 GOVERNMENT OBLIG 912795W49 1000 1000000 PRN SOLE 1000000 0 0 ULTRAPETROL BAHAMAS LTD COM COM P94398107 83 13000 SH SOLE 11000 0 2000 UNIV MED & DENT NJ 5.000% 09/0 MUNICIPAL BONDS 914447BR7 200 195000 PRN SOLE 120000 0 75000 UNUMPROVIDENT CORP COM 91529Y106 2496 112700 SH SOLE 76700 0 36000 VARIAN MED SYS INC COM COM 92220P105 254 4200 SH DEFINED 0 4200 0 VERIZON COMMUNICATIONS COM 92343V104 510 15651 SH DEFINED 3945 750 10956 VERIZON NEW ENG DTD 08/21/0 6. 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