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
3M Co (fmly Minnesota Mining & COM 88579Y101 689 4,465 SH   SOLE   0 0 4,465
ABBVIE INC COM 00287Y109 363 5,400 SH   SOLE   0 0 5,400
ACHILLION PHARMACEUTICALS COM 00448Q201 4,900 553,000 SH   SOLE   0 0 553,000
AIR LEASE CORP COM 00912X302 1,622 47,850 SH   SOLE   0 0 47,850
AIR PRODUCTS & CHEMICALS INC COM 009158106 385 2,817 SH   SOLE   0 0 2,817
ALLERGAN INC COM 018490102 237 780 SH   SOLE   0 0 780
ALTRIA GROUP (fka Philip Morri COM 02209S103 785 16,040 SH   SOLE   0 0 16,040
AMERICAN EXPRESS CO. COM 025816109 268 3,447 SH   SOLE   0 0 3,447
AMGEN INC. COM 031162100 1,519 9,893 SH   SOLE   0 0 9,893
ANALOG DEVICES INC COM 032654105 1,185 18,467 SH   SOLE   0 0 18,467
ANNALY CAPITAL MANAGEMENT INC COM 035710409 185 20,100 SH   SOLE   0 0 20,100
ANWORTH MORTGAGE ASSET CORP COM 037347101 1,977 400,925 SH   SOLE   0 0 400,925
APPLE INC. COM 037833100 14,845 118,357 SH   SOLE   0 0 118,357
ASSOCIATED ESTATES REALTY CP COM 045604105 1,685 58,850 SH   SOLE   0 0 58,850
AT&T INC COM 00206R102 1,145 32,233 SH   SOLE   0 0 32,233
BELDEN INC. COM 077454106 254 3,125 SH   SOLE   0 0 3,125
BERKSHIRE HATHAWAY INC - CLASS COM 084670702 711 5,225 SH   SOLE   0 0 5,225
BGC PARTNERS INC-CL A COM 05541T101 5,925 677,163 SH   SOLE   0 0 677,163
BJ'S RESTAURANTS INC COM 09180C106 452 9,333 SH   SOLE   0 0 9,333
BP P.L.C. ADR (fmly BP Amoco P COM 055622104 2,048 51,259 SH   SOLE   0 0 51,259
BRISTOL MYERS SQUIBB COM COM 110122108 3,027 45,490 SH   SOLE   0 0 45,490
CALLIDUS SOFTWARE INC COM 13123E500 4,882 313,375 SH   SOLE   0 0 313,375
CANADIAN NATL RAILWAY CO COM 136375102 2,850 49,350 SH   SOLE   0 0 49,350
CELGENE CORP COM 151020104 7,351 63,514 SH   SOLE   0 0 63,514
CELLDEX THERAPEUTICS INC COM 15117B103 4,115 163,145 SH   SOLE   0 0 163,145
CHECK POINT SOFTWARE TECH COM M22465104 6,926 87,069 SH   SOLE   0 0 87,069
CHEVRON CORP (fmly ChevronTexa COM 166764100 2,211 22,918 SH   SOLE   0 0 22,918
COCA COLA COMPANY COM 191216100 691 17,615 SH   SOLE   0 0 17,615
COMCAST CORP NEW CLASS A SPECI COM 20030N200 300 5,000 SH   SOLE   0 0 5,000
CONOCOPHILLIPS COM 20825C104 3,032 49,369 SH   SOLE   0 0 49,369
DOW CHEMICAL COMPANY COM 260543103 740 14,465 SH   SOLE   0 0 14,465
DU PONT E I DE NEMOURS COM COM 263534109 377 5,900 SH   SOLE   0 0 5,900
DUKE ENERGY CORP-NEW COM 26441C204 1,152 16,307 SH   SOLE   0 0 16,307
EAST WEST BANCORP INC COM 27579R104 1,491 33,275 SH   SOLE   0 0 33,275
ENERGOUS CORP COM 29272C103 6,240 810,400 SH   SOLE   0 0 810,400
EQUIFAX INC. COM 294429105 243 2,500 SH   SOLE   0 0 2,500
EQUITY RESIDENTIAL- fka Equity COM 29476L107 211 3,000 SH   SOLE   0 0 3,000
EURONET WORLDWIDE INC COM 298736109 201 3,250 SH   SOLE   0 0 3,250
EXPRESS SCRIPTS HOLDING COMPAN COM 30219G108 323 3,628 SH   SOLE   0 0 3,628
EXXON MOBIL CORPORATION COM 30231G102 1,506 18,099 SH   SOLE   0 0 18,099
FIRST NIAGARA FINANCIAL GROUP, COM 33582V108 115 12,220 SH   SOLE   0 0 12,220
FIRST POTOMAC REALTY TRUST COM 33610f109 1,343 130,415 SH   SOLE   0 0 130,415
FRONTIER COMMUNICATIONS CORP COM 35906A108 4,449 898,882 SH   SOLE   0 0 898,882
GENERAL DYNAMICS CORP COM 369550108 283 2,000 SH   SOLE   0 0 2,000
GENERAL ELECTRIC CO COM 369604103 2,026 76,265 SH   SOLE   0 0 76,265
GERON CORP COM 374163103 1,008 235,500 SH   SOLE   0 0 235,500
GILEAD SCIENCES INC. COM 375558103 9,075 77,511 SH   SOLE   0 0 77,511
GLAXOSMITHKLINE PLC COM 37733W105 258 6,200 SH   SOLE   0 0 6,200
GOLAR LNG LTD COM G9456A100 7,392 157,950 SH   SOLE   0 0 157,950
GOOGLE INC - CL A COM 38259P508 3,181 5,891 SH   SOLE   0 0 5,891
GOOGLE INC - CL C COM 38259P706 3,445 6,618 SH   SOLE   0 0 6,618
HALLIBURTON CO. COM 406216101 2,656 61,662 SH   SOLE   0 0 61,662
HALOZYME THERAPEAUTICS INC COM 40637h109 1,236 54,730 SH   SOLE   0 0 54,730
HONEYWELL INTERNATIONAL INC COM 438516106 416 4,075 SH   SOLE   0 0 4,075
INTEL CORP COM COM 458140100 1,579 51,903 SH   SOLE   0 0 51,903
INTERNATIONAL BUSINESS MACHINE COM 459200101 1,512 9,293 SH   SOLE   0 0 9,293
J.P. MORGAN CHASE & CO COM 46625H100 275 4,052 SH   SOLE   0 0 4,052
JOHNSON & JOHNSON COM 478160104 4,528 46,459 SH   SOLE   0 0 46,459
KIMBERLY CLARK COM 494368103 638 6,020 SH   SOLE   0 0 6,020
KRAFT FOODS GROUP INC COM 50076Q106 1,979 23,247 SH   SOLE   0 0 23,247
LEXINGTON REALTY TRUST COM 529043101 4,912 579,301 SH   SOLE   0 0 579,301
LILLY ELI & CO COM COM 532457108 238 2,850 SH   SOLE   0 0 2,850
LKQ CORP COM 501889208 272 9,000 SH   SOLE   0 0 9,000
LOCKHEED MARTIN CORPORATION COM 539830109 878 4,725 SH   SOLE   0 0 4,725
LOWES COMPANIES INC. COM 548661107 365 5,454 SH   SOLE   0 0 5,454
MARATHON OIL CORP COM 565849106 1,551 58,453 SH   SOLE   0 0 58,453
MARATHON PETROLEUM CORP COM 56585A102 2,529 48,340 SH   SOLE   0 0 48,340
MERCK and CO INC COM 58933Y105 3,518 61,790 SH   SOLE   0 0 61,790
MICROCHIP TECHNOLOGY INC COM 595017104 5,573 117,520 SH   SOLE   0 0 117,520
MICROSOFT COM 594918104 310 7,021 SH   SOLE   0 0 7,021
MIDDLEBY CORP COM 596278101 404 3,600 SH   SOLE   0 0 3,600
MONDELEZ INTERNATIONAL -W/I COM 609207105 1,899 46,167 SH   SOLE   0 0 46,167
MOODY'S CORP COM 615369105 203 1,884 SH   SOLE   0 0 1,884
NESTLE SA - SPONS ADR FOR REG COM 641069406 289 4,000 SH   SOLE   0 0 4,000
NEW RESIDENTIAL COM 64828T201 1,994 130,867 SH   SOLE   0 0 130,867
NIKE INC CL B COM 654106103 724 6,698 SH   SOLE   0 0 6,698
NORDIC AMERICAN TANKERS LTD COM g65773106 1,345 94,500 SH   SOLE   0 0 94,500
NORTHROP GRUMMAN CORP COM 666807102 408 2,575 SH   SOLE   0 0 2,575
NOVARTIS AG-ADR COM 66987V109 809 8,225 SH   SOLE   0 0 8,225
OCCIDENTAL PETE CP DEL COM COM 674599105 1,854 23,843 SH   SOLE   0 0 23,843
ORACLE CORP COM 68389X105 493 12,240 SH   SOLE   0 0 12,240
PEPSICO INC COM COM 713448108 1,187 12,716 SH   SOLE   0 0 12,716
PFIZER INC. COM 717081103 1,988 59,283 SH   SOLE   0 0 59,283
PHILLIP MORRIS INTERNATIONAL COM 718172109 614 7,664 SH   SOLE   0 0 7,664
PHILLIPS 66 COM 718546104 3,189 39,580 SH   SOLE   0 0 39,580
PROCTER & GAMBLE CO. COM 742718109 987 12,620 SH   SOLE   0 0 12,620
PUBLIC STORAGE COM 74460D109 402 2,180 SH   SOLE   0 0 2,180
PUMA BIOTECHNOLOGY INC COM 74587V107 353 3,025 SH   SOLE   0 0 3,025
QUALCOMM INC COM 747525103 830 13,258 SH   SOLE   0 0 13,258
RAYTHEON COMPANY COM 755111507 213 2,223 SH   SOLE   0 0 2,223
REDWOOD TRUST INC COM 758075402 1,836 116,967 SH   SOLE   0 0 116,967
ROCHE HOLDINGS-SPONS ADR COM 771195104 245 7,000 SH   SOLE   0 0 7,000
SCHLUMBERGER LTD COM COM 806857108 585 6,789 SH   SOLE   0 0 6,789
SCHWAB (CHARLES) CORP COM 808513105 451 13,800 SH   SOLE   0 0 13,800
SHIP FINANCE INTL LTD COM G81075106 9,951 609,764 SH   SOLE   0 0 609,764
SPECTRA ENERGY CORP COM 847560109 2,056 63,067 SH   SOLE   0 0 63,067
SPRAGUE RESOURCES LP COM 849343108 3,146 122,400 SH   SOLE   0 0 122,400
STANLEY BLACK & DECKER INC COM 854502101 268 2,546 SH   SOLE   0 0 2,546
STARBUCKS CORP COM 855244109 4,513 84,168 SH   SOLE   0 0 84,168
STARWOOD PROPERTY TRUST INC COM 85571B105 216 10,000 SH   SOLE   0 0 10,000
T-MOBILE US INC COM 872590104 338 8,710 SH   SOLE   0 0 8,710
TEVA PHARMACEUTICAL-SP ADR COM 881624209 762 12,900 SH   SOLE   0 0 12,900
TEXAS INSTRUMENTS INC. COM 882508104 698 13,560 SH   SOLE   0 0 13,560
TRANSENTERIX INC COM 89366M201 117 39,000 SH   SOLE   0 0 39,000
TRANSTEXAS GAS CORP - CLASS A COM 893895201 0 15,041 SH   SOLE   0 0 15,041
TVI CORP COM 872916101 0 17,500 SH   SOLE   0 0 17,500
US BANCORP - NEW COM 902973304 347 7,995 SH   SOLE   0 0 7,995
VALEANT PHARMACEUTICALS INTE COM 91911K102 444 2,000 SH   SOLE   0 0 2,000
VERIZON COMMUNICATIONS-fmly Be COM 92343V104 1,239 26,577 SH   SOLE   0 0 26,577
VERTEX PHARMACEUTICALS INC COM 92532F100 1,472 11,920 SH   SOLE   0 0 11,920
VF CORP COM 918204108 279 4,000 SH   SOLE   0 0 4,000
WABTEC CORP COM 929740108 377 4,000 SH   SOLE   0 0 4,000
WALT DISNEY COMPANY, THE COM 254687106 1,256 11,005 SH   SOLE   0 0 11,005
WELLS FARGO COMPANY COM 949746101 1,110 19,732 SH   SOLE   0 0 19,732
WHOLE FOODS MARKET INC COM 966837106 1,747 44,295 SH   SOLE   0 0 44,295
WYNN RESORTS LTD COM 983134107 212 2,150 SH   SOLE   0 0 2,150
COUNTRYWIDE CAPITAL V PFD 222388209 2,590 100,576 SH   SOLE   0 0 100,576
GASTAR EXPLORAT 8.6250% SERIES PFD 36729P207 7,052 315,532 SH   SOLE   0 0 315,532
MORGAN STANLEY CAP TR III 6.25 PFD 617460209 3,556 139,275 SH   SOLE   0 0 139,275
TRANSTEXAS GAS CORP SR PFD SER PFD 893895607 0 41,140 SH   SOLE   0 0 41,140