COO and CCO

0001109228-16-000012.txt : 20161115 0001109228-16-000012.hdr.sgml : 20161115 20161115113825 ACCESSION NUMBER: 0001109228-16-000012 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161115 DATE AS OF CHANGE: 20161115 EFFECTIVENESS DATE: 20161115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KCM INVESTMENT ADVISORS LLC CENTRAL INDEX KEY: 0001109228 IRS NUMBER: 911756649 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05651 FILM NUMBER: 161998505 BUSINESS ADDRESS: STREET 1: 750 LINDARO STREET STREET 2: SUITE 350 CITY: SAN RAFAEL STATE: CA ZIP: 94901 BUSINESS PHONE: 415-461-7788 MAIL ADDRESS: STREET 1: 750 LINDARO STREET STREET 2: SUITE 350 CITY: SAN RAFAEL STATE: CA ZIP: 94901 FORMER COMPANY: FORMER CONFORMED NAME: KCM INVESTMENT ADVISORS/CA DATE OF NAME CHANGE: 20000413 13F-HR 1 primary_doc.xml 13F-HR LIVE false true false 0001109228 XXXXXXXX 09-30-2016 09-30-2016 KCM INVESTMENT ADVISORS LLC

750 LINDARO STREET SUITE 350 SAN RAFAEL CA 94901

13F HOLDINGS REPORT 028-05651 N William L. Prince COO and CCO 415.461.7788 William L Prince San Rafael CA 11-15-2016 0 539 1459108 false INFORMATION TABLE 2 kcm13f09302016.xml 1/100 Berkshire Hathaway A (10 COM 084990175 649 300 SH SOLE 300 0 0 3M Company COM 88579y101 17669 100261 SH SOLE 100261 0 0 ABB Ltd-Spon ADR COM 000375204 4313 191595 SH SOLE 191595 0 0 AT&T Inc COM 00206r102 8892 218949 SH SOLE 218949 0 0 AbbVie Inc COM 00287y109 10058 159476 SH SOLE 159476 0 0 Abbott Laboratories COM 002824100 9283 219497 SH SOLE 219497 0 0 Accenture PLC-Cl A COM g1151c101 4416 36145 SH SOLE 36145 0 0 Adobe Systems Inc COM 00724f101 985 9074 SH SOLE 9074 0 0 Aetna Inc COM 00817Y108 781 6769 SH SOLE 6769 0 0 Aflac Inc COM 001055102 809 11250 SH SOLE 11250 0 0 Agilent Technologies Inc COM 00846u101 822 17465 SH SOLE 17465 0 0 Air Products & Chemicals Inc COM 009158106 6702 44577 SH SOLE 44577 0 0 Allegion PLC COM g0176j109 243 3532 SH SOLE 3532 0 0 Allergan plc (new) COM g0177j108 588 2555 SH SOLE 2555 0 0 Allstate Corp COM 020002101 400 5775 SH SOLE 5775 0 0 Alphabet Inc-Cl A COM 02079k305 6932 8621 SH SOLE 8621 0 0 Alphabet Inc-Cl C COM 02079k107 5118 6584 SH SOLE 6584 0 0 Altria Group Inc COM 02209s103 10269 162409 SH SOLE 162409 0 0 AmTrust Financial Services COM 032359309 215 8001 SH SOLE 8001 0 0 Amarillo Gold Corp COM 02301t108 4 13000 SH SOLE 13000 0 0 Amazon.com Inc COM 023135106 1031 1231 SH SOLE 1231 0 0 American Electric Power COM 025537101 499 7767 SH SOLE 7767 0 0 American Express Co COM 025816109 1277 19944 SH SOLE 19944 0 0 AmerisourceBergen Corp COM 03073e105 240 2973 SH SOLE 2973 0 0 Amgen Inc COM 031162100 2635 15796 SH SOLE 15796 0 0 Anthem Inc COM 036752103 2186 17448 SH SOLE 17448 0 0 Apple Inc COM 037833100 29653 262302 SH SOLE 262302 0 0 Archer-Daniels-Midland Co COM 039483102 833 19761 SH SOLE 19761 0 0 Ares Capital Corp COM 04010l103 161 10417 SH SOLE 10417 0 0 Automatic Data Processing COM 053015103 15424 174876 SH SOLE 174876 0 0 BCE Inc COM 05534b760 2357 51031 SH SOLE 51031 0 0 Bank Of Marin Bancorp/CA COM 063425102 771 15503 SH SOLE 15503 0 0 Bank of America Corp COM 060505104 6085 388833 SH SOLE 388833 0 0 Baxter International Inc. COM 071813109 398 8367 SH SOLE 8367 0 0 Becton Dickinson & Co COM 075887109 3125 17389 SH SOLE 17389 0 0 Berkshire Hathaway Inc-Cl B COM 084670702 3426 23712 SH SOLE 23712 0 0 Biogen Inc COM 09062x103 1451 4634 SH SOLE 4634 0 0 Blackrock Inc COM 09247x101 266 735 SH SOLE 735 0 0 Blackstone Group/The COM 09253u108 923 36146 SH SOLE 36146 0 0 Boeing Co COM 097023105 1882 14287 SH SOLE 14287 0 0 Bristol-Myers Squibb Co COM 110122108 16161 299716 SH SOLE 299716 0 0 Broadcom Ltd COM y09827109 232 1342 SH SOLE 1342 0 0 Brown-Forman Corp -Cl B COM 115637209 271 5717 SH SOLE 5717 0 0 CR Bard Inc COM 067383109 408 1818 SH SOLE 1818 0 0 CVS Health Corp COM 126650100 5666 63668 SH SOLE 63668 0 0 CalAtlantic Group COM 128195104 869 26000 SH SOLE 26000 0 0 Canadian Natl Railway Co COM 136375102 224 3420 SH SOLE 3420 0 0 Cardinal Health Inc COM 14149Y108 449 5778 SH SOLE 5778 0 0 Carlyle Group/The COM 14309l102 307 19700 SH SOLE 19700 0 0 Caterpillar Inc COM 149123101 2827 31843 SH SOLE 31843 0 0 Celgene Corp COM 151020104 677 6472 SH SOLE 6472 0 0 CenterPoint Energy Inc COM 15189t107 1939 83466 SH SOLE 83466 0 0 Cerner Corp COM 156782104 3037 49181 SH SOLE 49181 0 0 Cerus Corp COM 157085101 62 10000 SH SOLE 10000 0 0 Check Point Software Tech COM m22465104 633 8151 SH SOLE 8151 0 0 Chevron Corp COM 166764100 25650 249223 SH SOLE 249223 0 0 Chubb Ltd (new) COM h1467j104 2788 22190 SH SOLE 22190 0 0 Cigna Corp COM 125509109 240 1845 SH SOLE 1845 0 0 Cincinnati Financial Corp COM 172062101 620 8226 SH SOLE 8226 0 0 Cintas Corp COM 172908105 336 2986 SH SOLE 2986 0 0 Cisco Systems Inc COM 17275R102 4494 141674 SH SOLE 141674 0 0 Citigroup Inc COM 172967424 272 5754 SH SOLE 5754 0 0 Clorox Company COM 189054109 12778 102075 SH SOLE 102075 0 0 Coca-Cola Co/The COM 191216100 5286 124912 SH SOLE 124912 0 0 Colgate-Palmolive Co COM 194162103 10217 137801 SH SOLE 137801 0 0 Comcast Corp-Cl A COM 20030n101 9367 141196 SH SOLE 141196 0 0 ConAgra Foods Inc COM 205887102 1527 32409 SH SOLE 32409 0 0 ConocoPhillips COM 20825C104 6176 142071 SH SOLE 142071 0 0 Consolidated Edison Inc COM 209115104 641 8518 SH SOLE 8518 0 0 Cool Technologies Inc COM 21639y100 60 333333 SH SOLE 333333 0 0 Costco Wholesale Corp COM 22160K105 17040 111732 SH SOLE 111732 0 0 Crown Castle Intl Corp COM 22822v101 14695 155979 SH SOLE 155979 0 0 DTE Energy Company COM 233331107 210 2247 SH SOLE 2247 0 0 Danaher Corp COM 235851102 4123 52602 SH SOLE 52602 0 0 Deere & Co COM 244199105 1320 15466 SH SOLE 15466 0 0 Diageo Plc-Sponsored ADR COM 25243q205 525 4528 SH SOLE 4528 0 0 Dick's Sporting Goods Inc COM 253393102 861 15188 SH SOLE 15188 0 0 Disney Co./Walt The COM 254687106 16108 173465 SH SOLE 173465 0 0 Dominion Resources Inc/Va COM 25746u109 654 8801 SH SOLE 8801 0 0 Dover Corp COM 260003108 436 5917 SH SOLE 5917 0 0 Dow Chemical COM 260543103 553 10662 SH SOLE 10662 0 0 Dr Pepper Snapple Group Inc COM 26138e109 989 10828 SH SOLE 10828 0 0 Du Pont (E.I.) De Nemours COM 263534109 7512 112167 SH SOLE 112167 0 0 Duke Energy Corp COM 26441c204 766 9564 SH SOLE 9564 0 0 ETFS Physical Precious Metals COM 26922w109 370 5550 SH SOLE 5550 0 0 Eaton Corp PLC COM g29183103 1099 16722 SH SOLE 16722 0 0 Ecolab Inc COM 278865100 11674 95906 SH SOLE 95906 0 0 Edison International COM 281020107 10151 140492 SH SOLE 140492 0 0 Electronic Arts Inc COM 285512109 217 2544 SH SOLE 2544 0 0 Eli Lilly & Co COM 532457108 5033 62715 SH SOLE 62715 0 0 Emerson Electric Co COM 291011104 1841 33770 SH SOLE 33770 0 0 Encounter Technologies Inc COM 29259j303 0 62000 SH SOLE 62000 0 0 Enterprise Products Partners COM 293792107 1083 39211 SH SOLE 39211 0 0 Equity Residential COM 29476l107 231 3585 SH SOLE 3585 0 0 Essex Property Trust Inc COM 297178105 421 1890 SH SOLE 1890 0 0 Eurasian Minerals Inc COM 29843r100 58 54086 SH SOLE 54086 0 0 Eversource Energy COM 30040w108 354 6530 SH SOLE 6530 0 0 Express Scripts Holding Co. COM 30219g108 844 11971 SH SOLE 11971 0 0 Exxon Mobil Corp COM 30231G102 11666 133662 SH SOLE 133662 0 0 Facebook Inc COM 30303m102 38141 297353 SH SOLE 297353 0 0 FedEx Corp COM 31428x106 770 4410 SH SOLE 4410 0 0 First Republic Bank/San Franci COM 33616C100 1272 16495 SH SOLE 16495 0 0 First Trust Mid Cap Growth Alp COM 33737m102 1710 55173 SH SOLE 55173 0 0 First Trust Mid Cap Value ETF COM 33737m201 261 8783 SH SOLE 8783 0 0 First Trust Morningstar Divide COM 336917109 1459 53496 SH SOLE 53496 0 0 First Trust Rising Dividend Ac COM 33738r506 252 11384 SH SOLE 11384 0 0 Ford Motor Co COM 345370860 352 29168 SH SOLE 29168 0 0 Fortinet Inc COM 34959e109 347 9390 SH SOLE 9390 0 0 Fortive Corp COM 34959j108 679 13333 SH SOLE 13333 0 0 Franklin Covey Co COM 353469109 178 10000 SH SOLE 10000 0 0 Freeport McMoRan Inc-B COM 35671d857 160 14740 SH SOLE 14740 0 0 Frontier Communications Corp COM 35906a108 274 65818 SH SOLE 65818 0 0 General Dynamics Corp COM 369550108 2606 16795 SH SOLE 16795 0 0 General Electric Co COM 369604103 22900 773132 SH SOLE 773132 0 0 General Mills Inc COM 370334104 6479 101426 SH SOLE 101426 0 0 General Motors Co COM 37045v100 274 8625 SH SOLE 8625 0 0 Genuine Parts Co COM 372460105 6916 68854 SH SOLE 68854 0 0 Gilead Sciences Inc COM 375558103 1803 22782 SH SOLE 22782 0 0 GlaxoSmithKline Plc-ADR COM 37733w105 1288 29863 SH SOLE 29863 0 0 Global Brands Group Holding COM g39338101 1 10000 SH SOLE 10000 0 0 Goldman Sachs Group Inc COM 38141G104 386 2395 SH SOLE 2395 0 0 Grainger (W.W.) Inc COM 384802104 574 2555 SH SOLE 2555 0 0 Great Plains Energy Inc COM 391164100 791 28980 SH SOLE 28980 0 0 Groupon Inc COM 399473107 350 68000 SH SOLE 68000 0 0 Guggenheim Russell Top 50 ETF COM 78355w205 748 4896 SH SOLE 4896 0 0 Guggenheim S&P Equal Weight COM 78355w106 550 6574 SH SOLE 6574 0 0 HCP Inc REIT COM 40414l109 6843 180322 SH SOLE 180322 0 0 HP Inc COM 40434l105 164 10556 SH SOLE 10556 0 0 Harman International COM 413086109 641 7595 SH SOLE 7595 0 0 Hess Corp COM 42809h107 375 7000 SH SOLE 7000 0 0 Hewlett Packard Enterprise COM 42824c109 293 12868 SH SOLE 12868 0 0 Home Depot Inc COM 437076102 11410 88668 SH SOLE 88668 0 0 Honeywell International Inc COM 438516106 5818 49900 SH SOLE 49900 0 0 Hormel Foods Corp COM 440452100 748 19710 SH SOLE 19710 0 0 Illinois Tool Works COM 452308109 986 8225 SH SOLE 8225 0 0 Ingersoll-Rand PLC COM g47791101 2013 29633 SH SOLE 29633 0 0 Integral Technologies Inc COM 45810j103 2 17000 SH SOLE 17000 0 0 Intel Corp COM 458140100 15462 409579 SH SOLE 409579 0 0 International Paper Co COM 460146103 226 4718 SH SOLE 4718 0 0 Intl Business Machines Corp COM 459200101 4810 30282 SH SOLE 30282 0 0 Intl Flavors & Fragrances COM 459506101 936 6550 SH SOLE 6550 0 0 Intrexon Corp COM 46122t102 302 10770 SH SOLE 10770 0 0 Ivanhoe Mines Ltd COM 46579r104 422 240000 SH SOLE 240000 0 0 JPMorgan Chase & Co COM 46625H100 8758 131527 SH SOLE 131527 0 0 Jacobs Engineering Group Inc COM 469814107 312 6028 SH SOLE 6028 0 0 Johnson & Johnson COM 478160104 29154 246794 SH SOLE 246794 0 0 Johnson Controls Intl PLC COM g51502105 1616 34731 SH SOLE 34731 0 0 KKR & Co LP COM 48248m102 148 10400 SH SOLE 10400 0 0 Keysight Technologies Inc COM 49338l103 248 7831 SH SOLE 7831 0 0 Kimberly-Clark Corp COM 494368103 15812 125350 SH SOLE 125350 0 0 Kinder Morgan Inc COM 49456b101 6051 261601 SH SOLE 261601 0 0 Kraft Heinz Co/The COM 500754106 3266 36488 SH SOLE 36488 0 0 L-3 Communications Holdings COM 502424104 407 2701 SH SOLE 2701 0 0 Laboratory Corp Of Amer Hldgs COM 50540r409 2156 15679 SH SOLE 15679 0 0 Lam Research Corp COM 512807108 419 4427 SH SOLE 4427 0 0 Leggett & Platt Inc COM 524660107 553 12135 SH SOLE 12135 0 0 Li & Fung Ltd COM g5485f169 5 10000 SH SOLE 10000 0 0 Lockheed Martin Corp COM 539830109 4789 19978 SH SOLE 19978 0 0 Lowe's Cos Inc COM 548661107 3889 53851 SH SOLE 53851 0 0 Lululemon Athletica Inc COM 550021109 504 8260 SH SOLE 8260 0 0 Macy's Inc COM 55616p104 1041 28109 SH SOLE 28109 0 0 Manulife Financial Corp COM 56501r106 488 34598 SH SOLE 34598 0 0 Marathon Petroleum Corp COM 56585a102 310 7644 SH SOLE 7644 0 0 Marriott International-Cl A COM 571903202 2911 43233 SH SOLE 43233 0 0 McCormick & Co-Non Votung Shrs COM 579780206 2507 25089 SH SOLE 25089 0 0 McDonald's Corp COM 580135101 11298 97940 SH SOLE 97940 0 0 Medical Properties Trust Inc COM 58463j304 254 17169 SH SOLE 17169 0 0 Medivation Inc COM 58501n101 354 4355 SH SOLE 4355 0 0 Medtronic PLC COM g5960l103 7219 83556 SH SOLE 83556 0 0 Merck & Co. Inc. COM 58933y105 9192 147292 SH SOLE 147292 0 0 Microsoft Corp COM 594918104 16455 285680 SH SOLE 285680 0 0 Middleby Corp COM 596278101 203 1644 SH SOLE 1644 0 0 Mobileye NV COM n51488117 651 15301 SH SOLE 15301 0 0 Molson Coors Brewing Co -B COM 60871r209 252 2296 SH SOLE 2296 0 0 Mondelez International COM 609207105 2580 58777 SH SOLE 58777 0 0 Morgan Stanley COM 617446448 2498 77926 SH SOLE 77926 0 0 Mylan NV COM n59465109 1366 35833 SH SOLE 35833 0 0 NXP Semiconductors Nv COM n6596x109 812 7960 SH SOLE 7960 0 0 Nestle Sa-Spons ADR For Reg COM 641069406 4487 56784 SH SOLE 56784 0 0 NextEra Energy Inc COM 65339f101 13880 113476 SH SOLE 113476 0 0 Nike Inc -Cl B COM 654106103 8709 165422 SH SOLE 165422 0 0 Nordstrom Inc COM 655664100 423 8154 SH SOLE 8154 0 0 Norfolk Southern Corp COM 655844108 471 4857 SH SOLE 4857 0 0 Northrop Grumman Corp COM 666807102 246 1149 SH SOLE 1149 0 0 Novartis Ag-ADR COM 66987v109 3698 46839 SH SOLE 46839 0 0 Novo-Nordisk A/S-Spons ADR COM 670100205 215 5179 SH SOLE 5179 0 0 Nucor Corp COM 670346105 257 5205 SH SOLE 5205 0 0 Occidental Petroleum Corp COM 674599105 6584 90289 SH SOLE 90289 0 0 Oracle Corp COM 68389x105 4578 116543 SH SOLE 116543 0 0 P G & E Corp COM 69331c108 808 13214 SH SOLE 13214 0 0 PPG Industries Inc COM 693506107 452 4372 SH SOLE 4372 0 0 Paccar Inc COM 693718108 1657 28187 SH SOLE 28187 0 0 Palo Alto Networks COM 697435105 2016 12653 SH SOLE 12653 0 0 Parker-Hannifin Corp COM 701094104 242 1924 SH SOLE 1924 0 0 Paychex Inc COM 704326107 284 4903 SH SOLE 4903 0 0 Pentair PLC COM g7s00t104 451 7020 SH SOLE 7020 0 0 PepsiCo Inc COM 713448108 9302 85515 SH SOLE 85515 0 0 Pfizer Inc COM 717081103 9696 286281 SH SOLE 286281 0 0 Philip Morris International COM 718172109 2741 28189 SH SOLE 28189 0 0 Phillips 66 COM 718546104 365 4527 SH SOLE 4527 0 0 Piedmont Office Realty Trust COM 720190206 414 19000 SH SOLE 19000 0 0 Plains All American Pipeline L COM 726503105 204 6482 SH SOLE 6482 0 0 Potash Corp Of Saskatchewan COM 73755l107 309 18915 SH SOLE 18915 0 0 PowerShares Buyback Achievers COM 73935x286 257 5419 SH SOLE 5419 0 0 PowerShares Preferred Portfoli COM 73936t565 12156 803462 SH SOLE 803462 0 0 Powershares QQQ NASDAQ 100 Tru COM 73935a104 3830 32264 SH SOLE 32264 0 0 Praxair Inc COM 74005p104 2569 21260 SH SOLE 21260 0 0 Preferred Apartment Communitie COM 74039l103 3339 247150 SH SOLE 247150 0 0 ProLogis Inc COM 74340w103 641 11967 SH SOLE 11967 0 0 Procter & Gamble Co COM 742718109 26658 297023 SH SOLE 297023 0 0 Public Service Enterprise Grou COM 744573106 2308 55126 SH SOLE 55126 0 0 Public Storage Inc COM 74460d109 557 2497 SH SOLE 2497 0 0 Qualcomm Inc COM 747525103 513 7488 SH SOLE 7488 0 0 Quest Diagnostics COM 74834l100 288 3406 SH SOLE 3406 0 0 Raytheon Company COM 755111507 457 3355 SH SOLE 3355 0 0 Realty Income Corp COM 756109104 12886 192529 SH SOLE 192529 0 0 Regeneron Pharmaceuticals Inc COM 75886f107 467 1162 SH SOLE 1162 0 0 Retail Properties of America COM 76131v202 460 27393 SH SOLE 27393 0 0 Robert Half Intl Inc COM 770323103 208 5483 SH SOLE 5483 0 0 Roche Holdings LTD-Spons ADR COM 771195104 3332 107595 SH SOLE 107595 0 0 Rockwell Collins Inc. COM 774341101 622 7375 SH SOLE 7375 0 0 Roper Technologies Inc COM 776696106 232 1273 SH SOLE 1273 0 0 Royal Dutch Shell Plc-ADR A COM 780259206 471 9400 SH SOLE 9400 0 0 S&P Global Inc COM 78409v104 1316 10402 SH SOLE 10402 0 0 SAP SE-Sponsored ADR COM 803054204 814 8910 SH SOLE 8910 0 0 SPDR Consumer Discretionary Se COM 81369y407 6450 80580 SH SOLE 80580 0 0 SPDR Consumer Staples Select S COM 81369y308 4953 93089 SH SOLE 93089 0 0 SPDR Dow Jones Industrial Aver COM 78467x109 982 5371 SH SOLE 5371 0 0 SPDR Energy Select Sector COM 81369y506 13591 192476 SH SOLE 192476 0 0 SPDR Financial Select Sector COM 81369y605 3134 162402 SH SOLE 162402 0 0 SPDR Gold Trust COM 78463v107 1860 14806 SH SOLE 14806 0 0 SPDR Health Care Select Sector COM 81369y209 6679 92627 SH SOLE 92627 0 0 SPDR Industrial Select Sector COM 81369y704 4781 81898 SH SOLE 81898 0 0 SPDR Materials Select Sector COM 81369y100 1274 26690 SH SOLE 26690 0 0 SPDR Real Estate Sector COM 81369y860 744 22689 SH SOLE 22689 0 0 SPDR S&P 500 Index Trust Serie COM 78462f103 7203 33303 SH SOLE 33303 0 0 SPDR S&P Aerospace & Defense E COM 78464a631 254 4359 SH SOLE 4359 0 0 SPDR S&P Biotech ETF COM 78464a870 384 5790 SH SOLE 5790 0 0 SPDR S&P Dividend COM 78464a763 11259 133460 SH SOLE 133460 0 0 SPDR S&P MidCap 400 ETF Trust COM 78467y107 9987 35379 SH SOLE 35379 0 0 SPDR Technology Select Sector COM 81369y803 9534 199538 SH SOLE 199538 0 0 SPDR Utilities Select Sector COM 81369y886 989 20181 SH SOLE 20181 0 0 SVB Financial Group COM 78486q101 2609 23600 SH SOLE 23600 0 0 Salesforce.Com Inc COM 79466l302 2227 31225 SH SOLE 31225 0 0 Sanofi-ADR COM 80105n105 3300 86416 SH SOLE 86416 0 0 Scana Corp COM 80589m102 910 12574 SH SOLE 12574 0 0 Schlumberger Ltd COM 806857108 686 8728 SH SOLE 8728 0 0 Schwab (Charles) Corp COM 808513105 832 26343 SH SOLE 26343 0 0 Schwab US Broad Market ETF COM 808524102 1698 32450 SH SOLE 32450 0 0 Schwab US Dividend Equity ETF COM 808524797 5532 130748 SH SOLE 130748 0 0 Schwab US Large-Cap ETF COM 808524201 1881 36447 SH SOLE 36447 0 0 Schwab US Mid-Cap ETF COM 808524508 1304 29959 SH SOLE 29959 0 0 Sempra Energy COM 816851109 3360 31343 SH SOLE 31343 0 0 Sherwin-Williams Co COM 824348106 514 1859 SH SOLE 1859 0 0 Siemens Ag-Spons ADR COM 826197501 245 2092 SH SOLE 2092 0 0 Sierra Vista Bk **Stk Election COM 3900546 109 20000 SH SOLE 20000 0 0 Silvercorp Metals Inc COM 82835p103 32 10000 SH SOLE 10000 0 0 Simon Property Group Inc COM 828806109 418 2017 SH SOLE 2017 0 0 Southern Co COM 842587107 2178 42466 SH SOLE 42466 0 0 Southwest Airlines COM 844741108 387 9953 SH SOLE 9953 0 0 Spectra Energy Corp COM 847560109 4933 115394 SH SOLE 115394 0 0 Spectral Medical Inc COM 847577103 31 25000 SH SOLE 25000 0 0 Sprott Resource Corp COM 85207d103 190 526834 SH SOLE 526834 0 0 St Jude Medical Inc COM 790849103 596 7478 SH SOLE 7478 0 0 Stanley Black & Decker Inc COM 854502101 5996 48758 SH SOLE 48758 0 0 Starbucks Corp COM 855244109 6647 122770 SH SOLE 122770 0 0 State Street Corp COM 857477103 228 3280 SH SOLE 3280 0 0 Sysco Corp COM 871829107 736 15016 SH SOLE 15016 0 0 T Rowe Price Group Inc COM 74144t108 557 8370 SH SOLE 8370 0 0 TJX Companies Inc COM 872540109 564 7549 SH SOLE 7549 0 0 Target Corp COM 87612e106 8011 116642 SH SOLE 116642 0 0 Taseko Mines Ltd COM 876511106 19 40000 SH SOLE 40000 0 0 Tesla Motors Inc COM 88160r101 759 3720 SH SOLE 3720 0 0 Teva Pharmaceutical-Sp ADR COM 881624209 410 8912 SH SOLE 8912 0 0 Texas Instruments Inc COM 882508104 542 7716 SH SOLE 7716 0 0 Thermo Fisher Scientific Inc COM 883556102 269 1691 SH SOLE 1691 0 0 Time Warner Inc COM 887317303 2302 28914 SH SOLE 28914 0 0 Toronto Dominion Bank COM 891160509 4576 103074 SH SOLE 103074 0 0 Toyota Motor Corp -Spon ADR COM 892331307 2118 18250 SH SOLE 18250 0 0 Travelers Cos Inc/The COM 89417e109 3510 30639 SH SOLE 30639 0 0 Tri-Valley Corporation COM 895735108 0 15600 SH SOLE 15600 0 0 Twenty-First Century Fox-B (fo COM 90130a200 1886 76247 SH SOLE 76247 0 0 U S Bancorp COM 902973304 2917 68006 SH SOLE 68006 0 0 UDR Inc COM 902653104 255 7080 SH SOLE 7080 0 0 Unilever N V -NY Shares COM 904784709 4051 87873 SH SOLE 87873 0 0 Unilever Plc-Sponsored ADR COM 904767704 1960 41359 SH SOLE 41359 0 0 Union Pacific Corp COM 907818108 2056 21079 SH SOLE 21079 0 0 United Parcel Service-Cl B COM 911312106 8948 81818 SH SOLE 81818 0 0 United Technologies Corp COM 913017109 3189 31385 SH SOLE 31385 0 0 UnitedHealth Group Inc COM 91324P102 1590 11360 SH SOLE 11360 0 0 VF Corporation COM 918204108 469 8373 SH SOLE 8373 0 0 VanEck Vectors Pharmaceutical COM 92189f692 382 6643 SH SOLE 6643 0 0 Vanguard Consumer Discretionar COM 92204a108 480 3814 SH SOLE 3814 0 0 Vanguard Consumer Staples Vipe COM 92204a207 292 2135 SH SOLE 2135 0 0 Vanguard Developed Mkts COM 921943858 1183 31620 SH SOLE 31620 0 0 Vanguard Dividend Appreciation COM 921908844 704 8385 SH SOLE 8385 0 0 Vanguard Emerging Mkts COM 922042858 693 18404 SH SOLE 18404 0 0 Vanguard High Div Yield COM 921946406 2486 34467 SH SOLE 34467 0 0 Vanguard Info Tech Vipers COM 92204a702 563 4681 SH SOLE 4681 0 0 Vanguard Large-Cap Vipers ETF COM 922908637 297 3000 SH SOLE 3000 0 0 Vanguard Mid-Cap COM 922908629 2509 19380 SH SOLE 19380 0 0 Vanguard REIT COM 922908553 563 6485 SH SOLE 6485 0 0 Vanguard Small-Cap Vipers COM 922908751 2003 16396 SH SOLE 16396 0 0 Vanguard Total Stock Market COM 922908769 14655 131636 SH SOLE 131636 0 0 Varian Medical Systems Inc COM 92220P105 2274 22843 SH SOLE 22843 0 0 Verisk Analytics Inc-Class A COM 92345Y106 622 7650 SH SOLE 7650 0 0 Verizon Communications Inc COM 92343v104 30410 585028 SH SOLE 585028 0 0 Visa Inc-Class A Shares COM 92826c839 2427 29345 SH SOLE 29345 0 0 Vornado Realty Trust COM 929042109 6887 68050 SH SOLE 68050 0 0 Voyant International Corp COM 92909w108 0 53652 SH SOLE 53652 0 0 WEC Energy Group Inc COM 92939u106 5385 89932 SH SOLE 89932 0 0 Wal-Mart Stores Inc COM 931142103 1564 21693 SH SOLE 21693 0 0 Walgreens Boots Alliance Inc COM 931427108 10786 133783 SH SOLE 133783 0 0 Waste Management Inc COM 94106l109 12447 195217 SH SOLE 195217 0 0 Wells Fargo & Company COM 949746101 29314 662018 SH SOLE 662018 0 0 Westamerica Bancorportaion COM 957090103 672 13209 SH SOLE 13209 0 0 Weyerhaeuser Co COM 962166104 530 16602 SH SOLE 16602 0 0 Whirlpool Corp COM 963320106 2532 15613 SH SOLE 15613 0 0 White Mountains Insurance Grou COM g9618e107 697 840 SH SOLE 840 0 0 Whole Foods Market Inc COM 966837106 3583 126397 SH SOLE 126397 0 0 Williams Cos Inc COM 969457100 5408 175988 SH SOLE 175988 0 0 Williams-Sonoma Inc COM 969904101 3362 65825 SH SOLE 65825 0 0 WisdomTree MidCap Div Index COM 97717w505 304 3340 SH SOLE 3340 0 0 Xcel Energy Inc COM 98389b100 225 5461 SH SOLE 5461 0 0 Xylem Inc COM 98419m100 205 3910 SH SOLE 3910 0 0 Yahoo! Inc COM 984332106 1010 23435 SH SOLE 23435 0 0 Yum! Brands Inc COM 988498101 423 4658 SH SOLE 4658 0 0 Zimmer Biomet Holdings Inc COM 98956p102 2579 19838 SH SOLE 19838 0 0 iShares Core US Value COM 464287663 212 4608 SH SOLE 4608 0 0 iShares DJ Select Dividend Ind COM 464287168 7045 82212 SH SOLE 82212 0 0 iShares DJ US Energy Sector COM 464287796 1009 25865 SH SOLE 25865 0 0 iShares DJ US Financial Sect COM 464287788 1051 11677 SH SOLE 11677 0 0 iShares DJ US Health Car Pro COM 464288828 255 2052 SH SOLE 2052 0 0 iShares DJ US Telecommunicatio COM 464287713 900 27941 SH SOLE 27941 0 0 iShares DJ US Transport Index COM 464287192 1327 9137 SH SOLE 9137 0 0 iShares Goldman Sachs Tech I COM 464287721 275 2310 SH SOLE 2310 0 0 iShares MSCI EAFE Index COM 464287465 909 15373 SH SOLE 15373 0 0 iShares MSCI Emerging Markets COM 464287234 385 10267 SH SOLE 10267 0 0 iShares MSCI Singapore Index COM 464286673 111 10200 SH SOLE 10200 0 0 iShares MSCI USA Quality Facto COM 46432f339 1015 15044 SH SOLE 15044 0 0 iShares Nasdaq Biotech Index F COM 464287556 5501 19005 SH SOLE 19005 0 0 iShares Russell 1000 Growth COM 464287614 709 6809 SH SOLE 6809 0 0 iShares Russell 2000 Index Fun COM 464287655 544 4383 SH SOLE 4383 0 0 iShares Russell Midcap COM 464287499 296 1698 SH SOLE 1698 0 0 iShares Russell Midcap Growth COM 464287481 201 2067 SH SOLE 2067 0 0 iShares S&P 100 Index Fund COM 464287101 1915 19961 SH SOLE 19961 0 0 iShares S&P 500 Index Fund COM 464287200 583 2682 SH SOLE 2682 0 0 iShares S&P Europe 350 COM 464287861 545 13850 SH SOLE 13850 0 0 iShares S&P Global 100 COM 464287572 641 8546 SH SOLE 8546 0 0 iShares S&P Midcap 400 COM 464287507 1451 9381 SH SOLE 9381 0 0 iShares S&P Midcap 400/Value COM 464287705 428 3217 SH SOLE 3217 0 0 iShares S&P SmallCap 600 COM 464287804 520 4190 SH SOLE 4190 0 0 iShares S&P US Preferred Stock COM 464288687 9663 244642 SH SOLE 244642 0 0 AEGON 8.00% 2042 Notes Call 08 PFD 007924608 3010 112751 SH SOLE 112751 0 0 AGNC Investment Corp 7.75% Per PFD 00123q302 690 26883 SH SOLE 26883 0 0 AGNC Investment Corp 8.0% Perp PFD 02503x204 989 37857 SH SOLE 37857 0 0 AON Cap 8.205% 1/27 Non-Call B PFD 22532r101 2326 69906 SH SOLE 69906 0 0 Affiliated Mgrs Grp 6.375% SrN PFD 008252876 346 13183 SH SOLE 13183 0 0 AllState 6.75 2049 Call 10/201 PFD 020002606 252 9289 SH SOLE 9289 0 0 Allied Capital ARCC6.875% 4/20 PFD 01903q207 241 9398 SH SOLE 9398 0 0 American Homes 4Rent 6.50% Per PFD 02665t702 392 14650 SH SOLE 14650 0 0 Amtrust Financial 6.95% QDI Ca PFD 032359820 381 15000 SH SOLE 15000 0 0 Amtrust Financial 7.25% CUM QD PFD 032359507 302 11733 SH SOLE 11733 0 0 Amtrust Financial 7.25% SrNt C PFD 032359861 307 11800 SH SOLE 11800 0 0 Amtrust Financial 7.5% QDI Cal PFD 032359887 2844 110015 SH SOLE 110015 0 0 Amtrust Financial 7.50%Nts 205 PFD 032359853 506 18601 SH SOLE 18601 0 0 Amtrust Financial 7.625%CUM QD PFD 032359705 3758 144923 SH SOLE 144923 0 0 Amtrust Financial 7.75% QDI Ca PFD 032359846 1895 70700 SH SOLE 70700 0 0 Annaly Capital 7.625% CUM Cl 8 PFD 035710888 1254 49542 SH SOLE 49542 0 0 Annaly Capital 7.625% Perp Cl PFD 035710706 258 10131 SH SOLE 10131 0 0 Arbor Realty 8.50% CUM Perp Ca PFD 038923801 290 11114 SH SOLE 11114 0 0 Arch Capital 6.75% BBB QDI Cl PFD g0450a204 678 26461 SH SOLE 26461 0 0 Argo Group 6.5% Sr Notes Call PFD 040130205 1738 67118 SH SOLE 67118 0 0 Ashford Hospitality 7.375% NR PFD 044103604 1516 58450 SH SOLE 58450 0 0 Aspen Insurance 7.25% Call07/2 PFD g05384147 7604 293692 SH SOLE 293692 0 0 Aspen Insurance 7.401% Call 07 PFD g05384139 349 13773 SH SOLE 13773 0 0 Aviva 8.25% 12/2041 Called 12/ PFD 05382a203 2442 95708 SH SOLE 95708 0 0 Axis Capital 6.875% Cl 4/17 QD PFD g0692u307 587 22922 SH SOLE 22922 0 0 BB&T Capital 5.625% Call 8/201 PFD 054937404 230 8924 SH SOLE 8924 0 0 BGC Partners 8.125% 2042 Call PFD 05541t408 4587 176740 SH SOLE 176740 0 0 BancOfCalifornia 7.00% Cal2021 PFD 05990k874 1208 45983 SH SOLE 45983 0 0 BancOfCalifornia 7.375% Ca2020 PFD 05990k882 5358 203275 SH SOLE 203275 0 0 BancOfCalifornia 8.00% Cal2018 PFD 05990k403 2211 82377 SH SOLE 82377 0 0 Bank of America $1000pv 7.25% PFD 060505682 2459 2014 SH SOLE 2014 0 0 Bank of America 4.0%Min Float PFD 060505815 253 10308 SH SOLE 10308 0 0 Bank of America 6.5% Prp Cl 1/ PFD 060505310 562 20824 SH SOLE 20824 0 0 Bank of America 6.625% Prp/Cl PFD 060505344 3092 114223 SH SOLE 114223 0 0 Bank of America 6.625%Prp Cl 1 PFD 060505740 692 26178 SH SOLE 26178 0 0 Barclays 8.125% Perp/Cl 3/14 B PFD 06739h362 461 17700 SH SOLE 17700 0 0 Barclays Bank 7.1% Prp Call 12 PFD 06739h776 486 18891 SH SOLE 18891 0 0 BlueRock Residential Growth 7. PFD 09627j748 713 27219 SH SOLE 27219 0 0 BlueRock Residential Growth 8. PFD 09627j508 1937 73180 SH SOLE 73180 0 0 CBL & Associates 6.625% Perp C PFD 124830803 360 14246 SH SOLE 14246 0 0 CBL&Assoc Properties 7.375%CUM PFD 124830605 266 10622 SH SOLE 10622 0 0 CHS Chemical 7.50% Cl 1/2025 C PFD 12542r803 7376 249783 SH SOLE 249783 0 0 CHS Chemicals 6.75% Perp cl 20 PFD 12542r704 367 12830 SH SOLE 12830 0 0 CHS Chemicals 7.875% Perp cl 2 PFD 12542r308 290 9797 SH SOLE 9797 0 0 Capital One Finl 6.7%Prp Call PFD 14040h709 1561 55482 SH SOLE 55482 0 0 CenturyLink Quest 7.0%SnNts Cl PFD 74913g501 3139 119551 SH SOLE 119551 0 0 Chesapeake Lodging 7.75% PerpC PFD 165240201 4316 166636 SH SOLE 166636 0 0 Citigroup 5.8% B1 Call 4/18 QD PFD 172967366 229 8850 SH SOLE 8850 0 0 Citigroup 7.125% Flt Aftr 9/23 PFD 172967358 8281 285943 SH SOLE 285943 0 0 Citigroup Tst 7.875% Cl2015 Li PFD 173080201 892 33895 SH SOLE 33895 0 0 City Office REIT 6.625% CUM Ca PFD 178587200 583 23500 SH SOLE 23500 0 0 Colony Financial7.125%Perp CUM PFD 19624r403 1184 47776 SH SOLE 47776 0 0 Colony Financial7.50% Perp CUM PFD 19624r304 604 24014 SH SOLE 24014 0 0 Colony Financial8.50% Perp CUM PFD 19624r205 1070 41708 SH SOLE 41708 0 0 CoreEnergy 7.375% Pfd - Par Ca PFD 21870u304 753 30417 SH SOLE 30417 0 0 Corporate Office Prop 7.375% C PFD 22002t884 1767 68240 SH SOLE 68240 0 0 Costamare 7.625% CUM QDI Perp PFD y1771g110 435 19023 SH SOLE 19023 0 0 Costamare 8.50% CUM QDI Perp C PFD y1771g128 2264 102310 SH SOLE 102310 0 0 Cowen 8.25% Senior Notes Due 1 PFD 223622309 1439 54306 SH SOLE 54306 0 0 CubeSmart 7.75%CUM Called 11/2 PFD 229663208 440 17472 SH SOLE 17472 0 0 DTE Energy 6.5% Jr Sub Call 12 PFD 233331602 983 38450 SH SOLE 38450 0 0 Deutsche Bank 8.05% PrpCl6/18 PFD 25150l108 630 25871 SH SOLE 25871 0 0 Deutsche Bnk 7.6% Prp Cl 2/18 PFD 25154a108 386 16246 SH SOLE 16246 0 0 Digital Realty 6.625% Perp CUM PFD 253868806 460 17843 SH SOLE 17843 0 0 Digital Realty 7.375% Perp CUM PFD 253868871 1457 52988 SH SOLE 52988 0 0 Discover Financial 6.50%Perp Q PFD 254709207 2045 78423 SH SOLE 78423 0 0 Dynagas LNG 9.0% QDI CUM cl 2 PFD Y2188b116 1270 50781 SH SOLE 50781 0 0 EBAY 6.00% Sr Notes Call 3/1/2 PFD 278642202 573 21100 SH SOLE 21100 0 0 EaglePoint Credit 7%SrNts 12/3 PFD 269809208 739 28800 SH SOLE 28800 0 0 EaglePoint Credit 7.75%2022 CU PFD 269809109 1933 73767 SH SOLE 73767 0 0 Endurance Specialty 6.35% Cl 1 PFD 29267h406 359 12820 SH SOLE 12820 0 0 EverBank Financial 6.75% Perp PFD 29977g201 468 18206 SH SOLE 18206 0 0 First Republic 7.0% Cl 12/18 B PFD 33616c860 5130 187927 SH SOLE 187927 0 0 First Republic Bank 6.2% Cl 6/ PFD 33616c407 542 21060 SH SOLE 21060 0 0 First Republic Bank 6.70% Cl20 PFD 33616c209 2293 89486 SH SOLE 89486 0 0 GaslLog Ltd 8.75% Ser A CUM QD PFD g37585117 1246 49390 SH SOLE 49390 0 0 General Growth Prop 6.375% Cl PFD 370023202 383 14800 SH SOLE 14800 0 0 Gladstone Commercial 7.00% CUM PFD 376536603 1772 69800 SH SOLE 69800 0 0 Gladstone Investment 6.25% CUM PFD 376546503 763 30000 SH SOLE 30000 0 0 Global Indemnity SrNts7.75% Ca PFD g3933f121 1781 69020 SH SOLE 69020 0 0 Goldman 5.5% Flt Aftr 5/23 Cl PFD 38145g308 1913 71359 SH SOLE 71359 0 0 GoldmanSachs Lib+75 Min3.75% C PFD 38143y665 659 29189 SH SOLE 29189 0 0 HSBC Hldgs 8.0% Prp Cl 12/15 B PFD 404280802 2750 105310 SH SOLE 105310 0 0 Hanover Insurance6.35% Cl3/18 PFD 410867204 1179 45790 SH SOLE 45790 0 0 Hartford Finl 7.875% 2042 call PFD 416518504 1346 42669 SH SOLE 42669 0 0 Hercules Capital 6.25%SrNts 24 PFD 427096862 213 8300 SH SOLE 8300 0 0 Hercules Capital 7% 9/2019 BBB PFD 427096870 259 10171 SH SOLE 10171 0 0 Hersha Hospitality 6.50% NR Ca PFD 427825609 446 17550 SH SOLE 17550 0 0 ING Grp NV 7.20%Pfd Perp/Cl l2 PFD 456837301 291 11218 SH SOLE 11218 0 0 IberiaBank Corp 6.60% Call 5/1 PFD 450828504 888 33290 SH SOLE 33290 0 0 Investors REIT 7.95% Perp CUM PFD 461730301 1362 52790 SH SOLE 52790 0 0 JMP Group 8.00% SrDeb Due1/202 PFD 46629u206 441 17364 SH SOLE 17364 0 0 JPMorgan Chase 6.70%Perp/Call PFD 48127a161 1841 65093 SH SOLE 65093 0 0 KKR Financial 7.50% SrNts Call PFD 48248a504 4609 179049 SH SOLE 179049 0 0 KKR Financial 8.375% BBB Calle PFD 48248a405 1301 50965 SH SOLE 50965 0 0 LaSalle Hotel 6.3% Call 5/2021 PFD 517942884 272 10600 SH SOLE 10600 0 0 LaSalle Hotel 7.50% Perp CUM C PFD 517942702 1772 69965 SH SOLE 69965 0 0 M / I Homes 9.75% Pfd Call 11/ PFD 55305b200 385 15215 SH SOLE 15215 0 0 M&T Bank 6.375% Cl 11/18 BBB- PFD 55261f708 514 494 SH SOLE 494 0 0 MFA Financial 7.5% Prp Cl 4/15 PFD 55272x409 228 8868 SH SOLE 8868 0 0 Maiden Hldgs 8.00%rSNts 2042 c PFD 56029q309 2131 83088 SH SOLE 83088 0 0 Maiden Holdings 7.125%PrpCl 12 PFD g5753u138 764 29290 SH SOLE 29290 0 0 Maiden Holdings 8.25%Prp Cl8/2 PFD g5753u120 1972 75932 SH SOLE 75932 0 0 MetLife 3MoLibor+100 Min 4.0% PFD 59156r504 246 9666 SH SOLE 9666 0 0 Morgan Stanley 3MoLib+70bp 4%F PFD 61747s504 579 23884 SH SOLE 23884 0 0 Morgan Stanley 7.125%Flt Aftr1 PFD 61762v200 5338 180901 SH SOLE 180901 0 0 National General 7.5% QDI NA C PFD 636220857 2424 93335 SH SOLE 93335 0 0 National General Ins 7.62% Cal PFD 636220873 1829 70417 SH SOLE 70417 0 0 National General Ins7.50%Call4 PFD 636220808 3038 116745 SH SOLE 116745 0 0 National General Ins7.50%Call7 PFD 636220709 2678 103395 SH SOLE 103395 0 0 New York MtgTrust 7.875%Perp C PFD 649604808 286 11994 SH SOLE 11994 0 0 NewTek Business Svs 7.0%Nts du PFD 652526401 207 8090 SH SOLE 8090 0 0 NewTek Business Svs 7.50% Nts PFD 652526302 484 18811 SH SOLE 18811 0 0 News Corp 7.00% 12/1/2095 call PFD 863117206 270 10303 SH SOLE 10303 0 0 NorthStar Realty Fin 8.25% CUM PFD 66704R308 247 9750 SH SOLE 9750 0 0 NorthStar Realty Fin 8.50% CUM PFD 66705V209 692 26865 SH SOLE 26865 0 0 NorthStar Realty Fin 8.75% CUM PFD 66704r605 292 11436 SH SOLE 11436 0 0 Northstar Realty Fin 8.75% CUM PFD 66704r209 207 8113 SH SOLE 8113 0 0 Northstar Realty Fin 8.875% CU PFD 66704r506 239 9358 SH SOLE 9358 0 0 NuStar Logistics 7.625%Nts Cl PFD 67059t204 1239 48475 SH SOLE 48475 0 0 Oxford Lane Cap8.125% Cl6/2017 PFD 691543409 221 8513 SH SOLE 8513 0 0 PS Business Parks 6.0% Cl 5/20 PFD 69360j685 285 11144 SH SOLE 11144 0 0 Partner Re 6.50%Perp Cal 4/202 PFD g68603136 785 27500 SH SOLE 27500 0 0 Partner Re 7.25% Call 06/21 BB PFD g68603144 6347 211291 SH SOLE 211291 0 0 Penn Real Estate 8.25% CIM Per PFD 709102404 248 9657 SH SOLE 9657 0 0 Penn RealEstate 7.375%CUM Perp PFD 709102503 616 23767 SH SOLE 23767 0 0 Pitney Bowes 6.7% Cl 3/7/18 BB PFD 724479506 333 12500 SH SOLE 12500 0 0 Prospect Captl 6.25% 6/24 SrNt PFD 74348t300 959 37400 SH SOLE 37400 0 0 Prudential PLC 6.75% PrpCl 9/0 PFD g7293h114 597 22827 SH SOLE 22827 0 0 Quest USWest 7.0% SrNts 2056 2 PFD 74913g808 1404 50800 SH SOLE 50800 0 0 Quest USWest SnNotes 7.0% 2052 PFD 74913G402 1397 54550 SH SOLE 54550 0 0 Quest USWest Sr Nts6.125%Nts C PFD 74913g600 237 9300 SH SOLE 9300 0 0 Quest USWestSnNote7.5% 2051 Cl PFD 74913g303 2344 91784 SH SOLE 91784 0 0 Quest USWestSnNotes 6.875% CL PFD 74913g105 3408 126000 SH SOLE 126000 0 0 Qwest Corp 6.5% Sr Note 9/56 C PFD 74913g881 2448 94715 SH SOLE 94715 0 0 Raymond James Final 6.90% 2042 PFD 754730208 776 30014 SH SOLE 30014 0 0 Realty Income 6.625% Call 2/17 PFD 756109807 298 11422 SH SOLE 11422 0 0 Regency Centers 6.00% Perp CUM PFD 758849806 449 17400 SH SOLE 17400 0 0 Regions Financial 6.375% Cl 12 PFD 7591ep308 436 16850 SH SOLE 16850 0 0 Reinsurance Group of Amer 6.2% PFD 759351703 345 12000 SH SOLE 12000 0 0 Retail Properties of Amer 7.0% PFD 76131v608 428 16400 SH SOLE 16400 0 0 SL Green Realty 6.5% Perp CUM PFD 78440x507 1895 71825 SH SOLE 71825 0 0 Seaspan 7.875% Perp Cum QDI Ca PFD 81254u304 550 21900 SH SOLE 21900 0 0 Seaspan 7.95% 12/2049 Call 1/2 PFD y75638208 329 13177 SH SOLE 13177 0 0 Seaspan 8.20% Perp CUM QDI Cal PFD y75638307 1423 57025 SH SOLE 57025 0 0 Seaspan 8.25% Perp CUM QDI Cal PFD y75638133 2004 80179 SH SOLE 80179 0 0 SoCalEd 5.375% CUM cl 2025 QDI PFD 78409g206 845 29111 SH SOLE 29111 0 0 Solar Capital 6.75% Cl 11/17 PFD 83413u308 487 18873 SH SOLE 18873 0 0 Sotherly Hotels 8% Cum Perp C PFD 83600c301 1955 74901 SH SOLE 74901 0 0 Summit Hotel 7.875% Perp CUM C PFD 866082308 2854 108477 SH SOLE 108477 0 0 Summit Hotel7.125%Perp CUM Cal PFD 866082407 936 36363 SH SOLE 36363 0 0 Sunstone Hotel 6.95% Prp/Cl 3/ PFD 867892606 404 14779 SH SOLE 14779 0 0 Taubman Centers 6.5% CUM NA Cl PFD 876664608 277 10588 SH SOLE 10588 0 0 Telephone & Data 6.875% Cl 11/ PFD 879433845 2249 87425 SH SOLE 87425 0 0 Telephone & Data 7.0% Cl 3/16 PFD 879433837 837 32342 SH SOLE 32342 0 0 Texas Capitl Bancshares6.50% 2 PFD 882228307 443 17201 SH SOLE 17201 0 0 Torchmark Crp 6.125% SubDebCal PFD 891027401 1049 38550 SH SOLE 38550 0 0 TravelCenters America 8.00%SrN PFD 894174309 3143 122475 SH SOLE 122475 0 0 TravelCenters SnNotes 8% 10/20 PFD 894174408 1477 58165 SH SOLE 58165 0 0 Triancgle Capitl 6.375%Sr Note PFD 895848406 886 34075 SH SOLE 34075 0 0 TriplePoint Venture BDC 6.75% PFD 89677y209 505 19750 SH SOLE 19750 0 0 UMH Propertyies 8.0% Perp Cum PFD 903002301 600 21787 SH SOLE 21787 0 0 US Bancorp 6.5% Flt Aftr 1/22 PFD 902973833 1348 44739 SH SOLE 44739 0 0 US Celllular SrNts 7.25% 2063 PFD 911684504 531 19900 SH SOLE 19900 0 0 US Cellular 6.95%SrNT 2060 Cl PFD 911684405 499 18985 SH SOLE 18985 0 0 US Cellular 7.25% SrNts12/2064 PFD 911684603 1750 64702 SH SOLE 64702 0 0 VEREIT Inc 6.70% Perp CUM Cl 2 PFD 92339v209 872 32733 SH SOLE 32733 0 0 Wells Fargo 5.85%Flt Aftr 9/23 PFD 949746556 298 11150 SH SOLE 11150 0 0 Wells Fargo 6.375% Cl 12/19 BB PFD 94988n207 795 30000 SH SOLE 30000 0 0 Wells Fargo 7.5% Cnv@$156 $100 PFD 949746804 17146 13096 SH SOLE 13096 0 0 Wells Fargo 8.00% Prp Cl12/17 PFD 949746879 9513 352188 SH SOLE 352188 0 0 Wheeler RealEstate 8.75%CUM Pu PFD 963025606 416 16300 SH SOLE 16300 0 0 WinTrust Financial 6.50% Call PFD 97650w405 219 7455 SH SOLE 7455 0 0 Bank of America 5.20% Perp/Cal PFD 060505ED2 306 315000 PRN SOLE 315000 0 0 Charles Schwab 7% Perp/Call 2/ PFD 808513AE5 1914 1632000 PRN SOLE 1632000 0 0 Citigroup 5.35% Perp/Call 5/23 PFD 172967GR6 713 720000 PRN SOLE 720000 0 0 Citigroup 5.875% Perp/Call 3/2 PFD 172967JK8 354 350000 PRN SOLE 350000 0 0 Citigroup Inc 5.95% Perp Call PFD 172967GD7 848 820000 PRN SOLE 820000 0 0 Citigroup Inc 6.125% Perp Call PFD 172967KD2 572 550000 PRN SOLE 550000 0 0 Citigroup Inc Fix-to-Float Per PFD 172967GF2 207 200000 PRN SOLE 200000 0 0 GE Cap Corp 5.00% Perp/Call 1/ PFD 369604BQ5 2468 2317000 PRN SOLE 2317000 0 0 JPMorgan 6.0% Perp/Call 8/23 - PFD 48126HAA8 1809 1735000 PRN SOLE 1735000 0 0 JPMorgan 7.9% Perp/Call 4/18 - PFD 46625HHA1 2728 2655000 PRN SOLE 2655000 0 0 So. Cal Edison 6.25% Perp/Call PFD 842400FU2 782 700000 PRN SOLE 700000 0 0 Wachovia (WFC) Perp/Call 2/11 PFD 92978AAA0 5481 5495000 PRN SOLE 5495000 0 0 Wells Fargo & Company Perp/Cal PFD 949746PM7 480 460000 PRN SOLE 460000 0 0