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
1/100 Berkshire Hathaway A (10 COM 084990175 282 1 SH   SOLE   1 0 0
3M Company COM 88579y101 21,965 111,655 SH   SOLE   111,655 0 0
ABB Ltd-Spon ADR COM 000375204 534 24,516 SH   SOLE   24,516 0 0
AT&T Inc COM 00206r102 1,873 58,333 SH   SOLE   58,333 0 0
AbbVie Inc COM 00287y109 13,510 145,822 SH   SOLE   145,822 0 0
Abbott Laboratories COM 002824100 11,793 193,367 SH   SOLE   193,367 0 0
Accenture PLC-Cl A COM g1151c101 5,875 35,911 SH   SOLE   35,911 0 0
Adobe Systems Inc COM 00724f101 1,511 6,198 SH   SOLE   6,198 0 0
Aetna Inc COM 00817Y108 2,141 11,667 SH   SOLE   11,667 0 0
Aflac Inc COM 001055102 1,188 27,607 SH   SOLE   27,607 0 0
Agilent Technologies Inc COM 00846u101 983 15,899 SH   SOLE   15,899 0 0
Air Products & Chemicals Inc COM 009158106 8,072 51,836 SH   SOLE   51,836 0 0
Alibaba Group Holding-SP ADR COM 01609w102 516 2,781 SH   SOLE   2,781 0 0
Allergan plc (new) COM g0177j108 7,063 42,367 SH   SOLE   42,367 0 0
Allstate Corp COM 020002101 477 5,229 SH   SOLE   5,229 0 0
Alphabet Inc-Cl A COM 02079k305 12,071 10,690 SH   SOLE   10,690 0 0
Alphabet Inc-Cl C COM 02079k107 6,328 5,672 SH   SOLE   5,672 0 0
Altaba Inc COM 021346101 1,349 18,423 SH   SOLE   18,423 0 0
Altria Group Inc COM 02209s103 3,015 53,082 SH   SOLE   53,082 0 0
Amarillo Gold Corp COM 02301t108 3 13,000 SH   SOLE   13,000 0 0
Amazon.com Inc COM 023135106 16,944 9,968 SH   SOLE   9,968 0 0
American Electric Power COM 025537101 397 5,737 SH   SOLE   5,737 0 0
American Express Co COM 025816109 1,614 16,474 SH   SOLE   16,474 0 0
American Financial Group Inc COM 025932104 212 1,979 SH   SOLE   1,979 0 0
Amgen Inc COM 031162100 2,666 14,445 SH   SOLE   14,445 0 0
Anthem Inc COM 036752103 3,059 12,853 SH   SOLE   12,853 0 0
Apple Inc COM 037833100 46,537 251,401 SH   SOLE   251,401 0 0
Applied Materials Inc COM 038222105 271 5,871 SH   SOLE   5,871 0 0
Archer-Daniels-Midland Co COM 039483102 704 15,360 SH   SOLE   15,360 0 0
Arista Networks, Inc. COM 040413106 222 862 SH   SOLE   862 0 0
Automatic Data Processing COM 053015103 24,336 181,426 SH   SOLE   181,426 0 0
Bank Of Marin Bancorp/CA COM 063425102 961 11,890 SH   SOLE   11,890 0 0
Bank Of New York Mellon Corp COM 064058100 254 4,717 SH   SOLE   4,717 0 0
Bank of America Corp COM 060505104 8,519 302,201 SH   SOLE   302,201 0 0
Baxter International Inc. COM 071813109 578 7,827 SH   SOLE   7,827 0 0
Becton Dickinson & Co COM 075887109 3,431 14,322 SH   SOLE   14,322 0 0
Berkshire Hathaway Inc-Cl B COM 084670702 3,930 21,056 SH   SOLE   21,056 0 0
Biogen Inc COM 09062x103 1,190 4,099 SH   SOLE   4,099 0 0
Blackrock Inc COM 09247x101 505 1,012 SH   SOLE   1,012 0 0
Blackstone Group/The COM 09253u108 454 14,110 SH   SOLE   14,110 0 0
Boeing Co COM 097023105 9,749 29,057 SH   SOLE   29,057 0 0
Bristol-Myers Squibb Co COM 110122108 10,624 191,968 SH   SOLE   191,968 0 0
Broadcom Inc COM 11135f101 631 2,600 SH   SOLE   2,600 0 0
Brown-Forman Corp -Cl B COM 115637209 374 7,622 SH   SOLE   7,622 0 0
CBS Corp Class B COM 124857202 316 5,614 SH   SOLE   5,614 0 0
CSX Corp COM 126408103 276 4,330 SH   SOLE   4,330 0 0
CVS Health Corp COM 126650100 1,691 26,285 SH   SOLE   26,285 0 0
Caesars Entertainment Inc COM 127686103 120 11,211 SH   SOLE   11,211 0 0
CarMax Inc COM 143130102 255 3,500 SH   SOLE   3,500 0 0
Caterpillar Inc COM 149123101 4,145 30,555 SH   SOLE   30,555 0 0
Celgene Corp COM 151020104 239 3,014 SH   SOLE   3,014 0 0
CenterPoint Energy Inc COM 15189t107 715 25,821 SH   SOLE   25,821 0 0
Cerner Corp COM 156782104 3,251 54,381 SH   SOLE   54,381 0 0
Check Point Software Tech COM m22465104 1,273 13,037 SH   SOLE   13,037 0 0
Chevron Corp COM 166764100 30,663 242,529 SH   SOLE   242,529 0 0
Chubb Ltd (new) COM h1467j104 1,463 11,517 SH   SOLE   11,517 0 0
Cigna Corp COM 125509109 461 2,712 SH   SOLE   2,712 0 0
Cincinnati Financial Corp COM 172062101 432 6,457 SH   SOLE   6,457 0 0
Cintas Corp COM 172908105 591 3,192 SH   SOLE   3,192 0 0
Cisco Systems Inc COM 17275R102 7,209 167,524 SH   SOLE   167,524 0 0
Citigroup Inc COM 172967424 526 7,865 SH   SOLE   7,865 0 0
Clorox Company COM 189054109 14,244 105,319 SH   SOLE   105,319 0 0
Coca-Cola Co/The COM 191216100 1,671 38,105 SH   SOLE   38,105 0 0
Colgate-Palmolive Co COM 194162103 7,474 115,324 SH   SOLE   115,324 0 0
Comcast Corp-Cl A COM 20030n101 908 27,667 SH   SOLE   27,667 0 0
Conagra Brands Inc COM 205887102 692 19,365 SH   SOLE   19,365 0 0
ConocoPhillips COM 20825C104 4,257 61,140 SH   SOLE   61,140 0 0
Consolidated Edison Inc COM 209115104 620 7,946 SH   SOLE   7,946 0 0
Costco Wholesale Corp COM 22160K105 25,271 120,926 SH   SOLE   120,926 0 0
Crown Castle Intl Corp COM 22822v101 17,902 166,033 SH   SOLE   166,033 0 0
Danaher Corp COM 235851102 5,722 57,988 SH   SOLE   57,988 0 0
Deere & Co COM 244199105 1,690 12,091 SH   SOLE   12,091 0 0
Diageo Plc-Sponsored ADR COM 25243q205 537 3,732 SH   SOLE   3,732 0 0
Dick's Sporting Goods Inc COM 253393102 320 9,088 SH   SOLE   9,088 0 0
Disney Co./Walt The COM 254687106 16,280 155,329 SH   SOLE   155,329 0 0
Dominion Resources Inc/Va COM 25746u109 496 7,268 SH   SOLE   7,268 0 0
Dover Corp COM 260003108 611 8,344 SH   SOLE   8,344 0 0
DowDuPont Inc COM 26078j100 10,341 156,867 SH   SOLE   156,867 0 0
Duke Energy Corp COM 26441c204 506 6,402 SH   SOLE   6,402 0 0
Eaton Corp PLC COM g29183103 994 13,306 SH   SOLE   13,306 0 0
Ecolab Inc COM 278865100 14,257 101,596 SH   SOLE   101,596 0 0
Edison International COM 281020107 8,236 130,167 SH   SOLE   130,167 0 0
Electronic Arts Inc COM 285512109 484 3,434 SH   SOLE   3,434 0 0
Eli Lilly & Co COM 532457108 2,536 29,717 SH   SOLE   29,717 0 0
Emerson Electric Co COM 291011104 1,594 23,055 SH   SOLE   23,055 0 0
Enbridge Inc COM 29250n105 436 12,223 SH   SOLE   12,223 0 0
Encounter Technologies Inc COM 29259j303 0 62,000 SH   SOLE   62,000 0 0
Enterprise Products Partners COM 293792107 271 9,784 SH   SOLE   9,784 0 0
Essex Property Trust Inc COM 297178105 1,158 4,845 SH   SOLE   4,845 0 0
Eurasian Minerals Inc COM 29843r100 59 58,000 SH   SOLE   58,000 0 0
Evergy Inc COM 30034w106 537 9,571 SH   SOLE   9,571 0 0
Eversource Energy COM 30040w108 274 4,674 SH   SOLE   4,674 0 0
Express Scripts Holding Co. COM 30219g108 319 4,127 SH   SOLE   4,127 0 0
Exxon Mobil Corp COM 30231G102 7,840 94,768 SH   SOLE   94,768 0 0
Facebook Inc COM 30303m102 2,395 12,326 SH   SOLE   12,326 0 0
Fanhua Inc-Sponsored ADR COM 30712a103 382 13,404 SH   SOLE   13,404 0 0
FedEx Corp COM 31428x106 825 3,634 SH   SOLE   3,634 0 0
Finisar Corporation COM 31787a507 180 10,000 SH   SOLE   10,000 0 0
First Republic Bank/San Franci COM 33616C100 9,711 100,327 SH   SOLE   100,327 0 0
First Trust Mid Cap Growth Alp COM 33737m102 2,860 66,006 SH   SOLE   66,006 0 0
First Trust Mid Cap Value ETF COM 33737m201 316 8,783 SH   SOLE   8,783 0 0
First Trust Morningstar Divide COM 336917109 691 24,157 SH   SOLE   24,157 0 0
Ford Motor Co COM 345370860 117 10,605 SH   SOLE   10,605 0 0
Fortinet Inc COM 34959e109 608 9,740 SH   SOLE   9,740 0 0
Fortive Corp COM 34959j108 237 3,071 SH   SOLE   3,071 0 0
General Dynamics Corp COM 369550108 3,331 17,868 SH   SOLE   17,868 0 0
General Electric Co COM 369604103 1,513 111,144 SH   SOLE   111,144 0 0
Genuine Parts Co COM 372460105 7,205 78,489 SH   SOLE   78,489 0 0
Gilead Sciences Inc COM 375558103 546 7,710 SH   SOLE   7,710 0 0
Goldman ActiveBeta Europe Equi COM 381430305 228 7,465 SH   SOLE   7,465 0 0
Goldman Sach Active Beta US La COM 381430503 690 12,596 SH   SOLE   12,596 0 0
Goldman Sachs Group Inc COM 38141G104 693 3,140 SH   SOLE   3,140 0 0
HCP Inc REIT COM 40414l109 484 18,743 SH   SOLE   18,743 0 0
Home Depot Inc COM 437076102 23,703 121,493 SH   SOLE   121,493 0 0
Honeywell International Inc COM 438516106 5,871 40,760 SH   SOLE   40,760 0 0
Hormel Foods Corp COM 440452100 356 9,575 SH   SOLE   9,575 0 0
IDEXX Laboratories Inc COM 45168d104 210 965 SH   SOLE   965 0 0
Illinois Tool Works COM 452308109 1,222 8,819 SH   SOLE   8,819 0 0
Ingersoll-Rand PLC COM g47791101 1,712 19,078 SH   SOLE   19,078 0 0
Intel Corp COM 458140100 18,619 374,555 SH   SOLE   374,555 0 0
International Paper Co COM 460146103 384 7,372 SH   SOLE   7,372 0 0
Intl Business Machines Corp COM 459200101 2,398 17,166 SH   SOLE   17,166 0 0
Intl Flavors & Fragrances COM 459506101 775 6,250 SH   SOLE   6,250 0 0
Intuitive Surgical Inc COM 46120e602 442 924 SH   SOLE   924 0 0
Invesco KBW Regional Bank ETF COM 46138e578 1,508 26,025 SH   SOLE   26,025 0 0
Invesco Preferred ETF COM 46138e511 12,972 890,968 SH   SOLE   890,968 0 0
Invesco QQQ NASDAQ 100 Trust COM 46090e103 5,611 32,686 SH   SOLE   32,686 0 0
Invesco S&P Equal Weight COM 46137v357 755 7,412 SH   SOLE   7,412 0 0
Invesco S&P Equal Weight Finan COM 46137v340 216 5,104 SH   SOLE   5,104 0 0
Invesco S&P Top 50 COM 46137v233 1,310 6,795 SH   SOLE   6,795 0 0
Ivanhoe Mines Ltd COM 46579r104 497 241,500 SH   SOLE   241,500 0 0
JPMorgan Chase & Co COM 46625H100 13,620 130,708 SH   SOLE   130,708 0 0
JPMorgan US Large Cap Diversif COM 46641q407 1,491 20,991 SH   SOLE   20,991 0 0
Jacobs Engineering Group Inc COM 469814107 362 5,703 SH   SOLE   5,703 0 0
Johnson & Johnson COM 478160104 26,103 215,123 SH   SOLE   215,123 0 0
Johnson Controls Intl PLC COM g51502105 202 6,031 SH   SOLE   6,031 0 0
Kalytera Therapeutics Inc COM 48349p103 1 10,000 SH   SOLE   10,000 0 0
Keurig Dr Pepper Inc COM 49271v100 677 5,550 SH   SOLE   5,550 0 0
Keysight Technologies Inc COM 49338l103 448 7,584 SH   SOLE   7,584 0 0
Kimberly-Clark Corp COM 494368103 11,116 105,524 SH   SOLE   105,524 0 0
Kinder Morgan Inc COM 49456b101 215 12,190 SH   SOLE   12,190 0 0
Kraft Heinz Co/The COM 500754106 389 6,198 SH   SOLE   6,198 0 0
L3 Technologies Inc COM 502413107 2,908 15,122 SH   SOLE   15,122 0 0
Laboratory Corp Of Amer Hldgs COM 50540r409 2,550 14,205 SH   SOLE   14,205 0 0
Lam Research Corp COM 512807108 416 2,407 SH   SOLE   2,407 0 0
Lamb Weston Holdings Inc COM 513272104 353 5,152 SH   SOLE   5,152 0 0
Lennar Corp-Cl A COM 526057104 932 17,758 SH   SOLE   17,758 0 0
Lockheed Martin Corp COM 539830109 5,548 18,781 SH   SOLE   18,781 0 0
Lowe's Cos Inc COM 548661107 4,675 48,917 SH   SOLE   48,917 0 0
Lululemon Athletica Inc COM 550021109 1,067 8,550 SH   SOLE   8,550 0 0
Marathon Petroleum Corp COM 56585a102 436 6,209 SH   SOLE   6,209 0 0
Marriott International-Cl A COM 571903202 3,943 31,147 SH   SOLE   31,147 0 0
Masimo Corporation COM 574795100 236 2,415 SH   SOLE   2,415 0 0
MasterCard Inc-Class A COM 57636q104 285 1,450 SH   SOLE   1,450 0 0
McCormick & Co-Non Votung Shrs COM 579780206 2,400 20,673 SH   SOLE   20,673 0 0
McDonald's Corp COM 580135101 14,602 93,188 SH   SOLE   93,188 0 0
McKesson Corp COM 58155q103 899 6,742 SH   SOLE   6,742 0 0
Medical Properties Trust Inc COM 58463j304 175 12,429 SH   SOLE   12,429 0 0
Medtronic PLC COM g5960l103 7,578 88,517 SH   SOLE   88,517 0 0
Merck & Co. Inc. COM 58933y105 2,829 46,613 SH   SOLE   46,613 0 0
MetLife Inc COM 59156r108 377 8,657 SH   SOLE   8,657 0 0
Microsoft Corp COM 594918104 33,893 343,711 SH   SOLE   343,711 0 0
Mondelez International COM 609207105 1,074 26,184 SH   SOLE   26,184 0 0
Morgan Stanley COM 617446448 2,745 57,915 SH   SOLE   57,915 0 0
Motorola Solutions Inc COM 620076307 202 1,737 SH   SOLE   1,737 0 0
NVIDIA Corp COM 67066g104 3,292 13,895 SH   SOLE   13,895 0 0
NXP Semiconductors Nv COM n6596x109 784 7,174 SH   SOLE   7,174 0 0
Nestle Sa-Spons ADR For Reg COM 641069406 827 10,676 SH   SOLE   10,676 0 0
NextEra Energy Inc COM 65339f101 18,445 110,429 SH   SOLE   110,429 0 0
Nike Inc -Cl B COM 654106103 14,184 178,018 SH   SOLE   178,018 0 0
Norfolk Southern Corp COM 655844108 362 2,400 SH   SOLE   2,400 0 0
Northrop Grumman Corp COM 666807102 202 657 SH   SOLE   657 0 0
Novartis Ag-ADR COM 66987v109 593 7,845 SH   SOLE   7,845 0 0
Nucor Corp COM 670346105 210 3,360 SH   SOLE   3,360 0 0
ONEOK Inc COM 682680103 281 4,018 SH   SOLE   4,018 0 0
Occidental Petroleum Corp COM 674599105 3,538 42,278 SH   SOLE   42,278 0 0
Oracle Corp COM 68389x105 3,151 71,517 SH   SOLE   71,517 0 0
Parker-Hannifin Corp COM 701094104 297 1,904 SH   SOLE   1,904 0 0
PayPal Holdings Inc COM 70450y103 391 4,695 SH   SOLE   4,695 0 0
Paychex Inc COM 704326107 206 3,021 SH   SOLE   3,021 0 0
Penske Automotive Group, Inc COM 70959w103 209 4,470 SH   SOLE   4,470 0 0
Pentair PLC COM g7s00t104 252 5,993 SH   SOLE   5,993 0 0
PepsiCo Inc COM 713448108 5,674 52,118 SH   SOLE   52,118 0 0
Pfizer Inc COM 717081103 5,792 159,651 SH   SOLE   159,651 0 0
Philip Morris International COM 718172109 1,096 13,577 SH   SOLE   13,577 0 0
Phillips 66 COM 718546104 237 2,109 SH   SOLE   2,109 0 0
Plains GP Holdings LP COM 72651a207 239 10,000 SH   SOLE   10,000 0 0
Praxair Inc COM 74005p104 3,042 19,234 SH   SOLE   19,234 0 0
Preferred Apartment Communitie COM 74039l103 7,715 454,070 SH   SOLE   454,070 0 0
ProLogis Inc COM 74340w103 718 10,933 SH   SOLE   10,933 0 0
Procter & Gamble Co COM 742718109 15,649 200,471 SH   SOLE   200,471 0 0
Public Service Enterprise Grou COM 744573106 3,515 64,916 SH   SOLE   64,916 0 0
Putnam Premier Income Trust COM 746853100 77 14,693 SH   SOLE   14,693 0 0
Qualcomm Inc COM 747525103 624 11,113 SH   SOLE   11,113 0 0
Quest Diagnostics COM 74834l100 302 2,745 SH   SOLE   2,745 0 0
Raytheon Company COM 755111507 5,030 26,040 SH   SOLE   26,040 0 0
Realty Income Corp COM 756109104 11,029 205,041 SH   SOLE   205,041 0 0
Roche Holdings LTD-Spons ADR COM 771195104 2,126 76,960 SH   SOLE   76,960 0 0
Rockwell Automation Inc COM 773903109 390 2,344 SH   SOLE   2,344 0 0
Rockwell Collins Inc. COM 774341101 968 7,190 SH   SOLE   7,190 0 0
Roper Technologies Inc COM 776696106 283 1,024 SH   SOLE   1,024 0 0
Royal Dutch Shell Plc-ADR A COM 780259206 751 10,850 SH   SOLE   10,850 0 0
S&P Global Inc COM 78409v104 1,848 9,062 SH   SOLE   9,062 0 0
SAP SE-Sponsored ADR COM 803054204 672 5,812 SH   SOLE   5,812 0 0
SPDR Consumer Discretionary Se COM 81369y407 42,024 384,488 SH   SOLE   384,488 0 0
SPDR Consumer Staples Select S COM 81369y308 15,499 300,771 SH   SOLE   300,771 0 0
SPDR Dow Jones Industrial Aver COM 78467x109 1,352 5,571 SH   SOLE   5,571 0 0
SPDR Energy Select Sector COM 81369y506 20,837 274,390 SH   SOLE   274,390 0 0
SPDR Financial Select Sector COM 81369y605 26,546 998,360 SH   SOLE   998,360 0 0
SPDR Gold Trust COM 78463v107 1,505 12,688 SH   SOLE   12,688 0 0
SPDR Health Care Select Sector COM 81369y209 27,627 331,021 SH   SOLE   331,021 0 0
SPDR Industrial Select Sector COM 81369y704 20,639 288,139 SH   SOLE   288,139 0 0
SPDR Materials Select Sector COM 81369y100 6,844 117,860 SH   SOLE   117,860 0 0
SPDR NYSE Technology ETF COM 78464a102 837 8,965 SH   SOLE   8,965 0 0
SPDR Real Estate Sector COM 81369y860 206 6,311 SH   SOLE   6,311 0 0
SPDR S&P 500 Index Trust Serie COM 78462f103 8,935 32,938 SH   SOLE   32,938 0 0
SPDR S&P Aerospace & Defense E COM 78464a631 516 5,919 SH   SOLE   5,919 0 0
SPDR S&P Biotech ETF COM 78464a870 544 5,710 SH   SOLE   5,710 0 0
SPDR S&P Dividend COM 78464a763 11,739 126,629 SH   SOLE   126,629 0 0
SPDR S&P MidCap 400 ETF Trust COM 78467y107 11,801 33,240 SH   SOLE   33,240 0 0
SPDR S&P Regional Banking COM 78464a698 2,955 48,439 SH   SOLE   48,439 0 0
SPDR Technology Select Sector COM 81369y803 87,189 1,255,067 SH   SOLE   1,255,067 0 0
SPDR Utilities Select Sector COM 81369y886 1,392 26,798 SH   SOLE   26,798 0 0
Salesforce.Com Inc COM 79466l302 4,854 35,586 SH   SOLE   35,586 0 0
Schlumberger Ltd COM 806857108 254 3,792 SH   SOLE   3,792 0 0
Schwab (Charles) Corp COM 808513105 979 19,161 SH   SOLE   19,161 0 0
Schwab US Broad Market ETF COM 808524102 2,426 36,770 SH   SOLE   36,770 0 0
Schwab US Dividend Equity ETF COM 808524797 5,124 103,952 SH   SOLE   103,952 0 0
Schwab US Large-Cap ETF COM 808524201 2,081 32,017 SH   SOLE   32,017 0 0
Schwab US Mid-Cap ETF COM 808524508 1,645 29,971 SH   SOLE   29,971 0 0
Sempra Energy COM 816851109 3,706 31,921 SH   SOLE   31,921 0 0
Sherwin Williams Co COM 824348106 857 2,103 SH   SOLE   2,103 0 0
Southern Co COM 842587107 1,030 22,241 SH   SOLE   22,241 0 0
Spectral Medical Inc COM 847577103 8 25,000 SH   SOLE   25,000 0 0
Stanley Black & Decker Inc COM 854502101 6,233 46,935 SH   SOLE   46,935 0 0
Starbucks Corp COM 855244109 6,910 141,457 SH   SOLE   141,457 0 0
State Street Corp COM 857477103 349 3,747 SH   SOLE   3,747 0 0
Stryker Corp COM 863667101 215 1,276 SH   SOLE   1,276 0 0
Sysco Corp COM 871829107 1,101 16,123 SH   SOLE   16,123 0 0
T Rowe Price Group Inc COM 74144t108 437 3,762 SH   SOLE   3,762 0 0
TJX Companies Inc COM 872540109 424 4,452 SH   SOLE   4,452 0 0
Taiwan Semiconductor-Sp ADR COM 874039100 235 6,426 SH   SOLE   6,426 0 0
Target Corp COM 87612e106 798 10,488 SH   SOLE   10,488 0 0
Tesla Inc COM 88160r101 1,031 3,005 SH   SOLE   3,005 0 0
Texas Instruments Inc COM 882508104 692 6,281 SH   SOLE   6,281 0 0
Thermo Fisher Scientific Inc COM 883556102 814 3,930 SH   SOLE   3,930 0 0
Toronto Dominion Bank COM 891160509 3,388 58,547 SH   SOLE   58,547 0 0
Total S A -Spon ADR COM 89151e109 305 5,033 SH   SOLE   5,033 0 0
Toyota Motor Corp -Spon ADR COM 892331307 723 5,614 SH   SOLE   5,614 0 0
Travelers Cos Inc/The COM 89417e109 3,277 26,783 SH   SOLE   26,783 0 0
Tri-Valley Corporation COM 895735108 0 30,600 SH   SOLE   30,600 0 0
Tyme Technologies Inc COM 90238j103 32 10,000 SH   SOLE   10,000 0 0
U S Bancorp COM 902973304 6,267 125,290 SH   SOLE   125,290 0 0
UDR Inc COM 902653104 244 6,500 SH   SOLE   6,500 0 0
Unilever N V -NY Shares COM 904784709 3,026 54,301 SH   SOLE   54,301 0 0
Unilever Plc-Sponsored ADR COM 904767704 1,374 24,863 SH   SOLE   24,863 0 0
Union Pacific Corp COM 907818108 1,873 13,218 SH   SOLE   13,218 0 0
United Parcel Service-Cl B COM 911312106 9,728 91,578 SH   SOLE   91,578 0 0
United Technologies Corp COM 913017109 2,921 23,363 SH   SOLE   23,363 0 0
UnitedHealth Group Inc COM 91324P102 2,481 10,113 SH   SOLE   10,113 0 0
VF Corporation COM 918204108 328 4,030 SH   SOLE   4,030 0 0
Valero Energy Corp COM 91913Y100 468 4,222 SH   SOLE   4,222 0 0
VanEck Vectors Pharmaceutical COM 92189f692 365 6,193 SH   SOLE   6,193 0 0
Vanguard Consumer Discretionar COM 92204a108 1,505 8,874 SH   SOLE   8,874 0 0
Vanguard Consumer Staples Vipe COM 92204a207 749 5,582 SH   SOLE   5,582 0 0
Vanguard Developed Mkts COM 921943858 1,150 26,815 SH   SOLE   26,815 0 0
Vanguard Dividend Appreciation COM 921908844 838 8,251 SH   SOLE   8,251 0 0
Vanguard Emerging Mkts COM 922042858 341 8,079 SH   SOLE   8,079 0 0
Vanguard Energy ETF COM 92204a306 372 3,542 SH   SOLE   3,542 0 0
Vanguard European Vipers COM 922042874 804 14,320 SH   SOLE   14,320 0 0
Vanguard Financials Vipers COM 92204a405 787 11,666 SH   SOLE   11,666 0 0
Vanguard Health Care Vipers COM 92204a504 665 4,180 SH   SOLE   4,180 0 0
Vanguard High Div Yield COM 921946406 2,852 34,340 SH   SOLE   34,340 0 0
Vanguard Industrials COM 92204a603 489 3,599 SH   SOLE   3,599 0 0
Vanguard Info Tech Vipers COM 92204a702 3,435 18,935 SH   SOLE   18,935 0 0
Vanguard Large-Cap Vipers ETF COM 922908637 231 1,855 SH   SOLE   1,855 0 0
Vanguard Materials Vipers COM 92204a801 232 1,765 SH   SOLE   1,765 0 0
Vanguard Mega Cap 300 Growth E COM 921910816 379 3,182 SH   SOLE   3,182 0 0
Vanguard Mid-Cap COM 922908629 3,037 19,266 SH   SOLE   19,266 0 0
Vanguard Pacific Vipers-MSCI P COM 922042866 289 4,130 SH   SOLE   4,130 0 0
Vanguard REIT COM 922908553 343 4,207 SH   SOLE   4,207 0 0
Vanguard Small-Cap Vipers COM 922908751 2,352 15,111 SH   SOLE   15,111 0 0
Vanguard Total Stock Market COM 922908769 18,412 131,114 SH   SOLE   131,114 0 0
Varian Medical Systems Inc COM 92220P105 2,501 21,994 SH   SOLE   21,994 0 0
Verisk Analytics Inc-Class A COM 92345Y106 828 7,690 SH   SOLE   7,690 0 0
Verizon Communications Inc COM 92343v104 22,966 456,485 SH   SOLE   456,485 0 0
Visa Inc-Class A Shares COM 92826c839 5,515 41,640 SH   SOLE   41,640 0 0
Vornado Realty Trust COM 929042109 5,470 73,993 SH   SOLE   73,993 0 0
WEC Energy Group Inc COM 92939u106 3,889 60,155 SH   SOLE   60,155 0 0
Wal-Mart Stores Inc COM 931142103 1,882 21,977 SH   SOLE   21,977 0 0
Walgreens Boots Alliance Inc COM 931427108 9,604 160,019 SH   SOLE   160,019 0 0
Waste Management Inc COM 94106l109 16,433 202,022 SH   SOLE   202,022 0 0
Wells Fargo & Company COM 949746101 28,736 518,317 SH   SOLE   518,317 0 0
Westamerica Bancorportaion COM 957090103 475 8,410 SH   SOLE   8,410 0 0
Western Digital Corp COM 958102105 263 3,395 SH   SOLE   3,395 0 0
Weyerhaeuser Co COM 962166104 477 13,070 SH   SOLE   13,070 0 0
Whirlpool Corp COM 963320106 941 6,432 SH   SOLE   6,432 0 0
White Mountains Insurance Grou COM g9618e107 646 713 SH   SOLE   713 0 0
Williams Cos Inc COM 969457100 987 36,395 SH   SOLE   36,395 0 0
Williams-Sonoma Inc COM 969904101 6,697 109,100 SH   SOLE   109,100 0 0
WisdomTree MidCap Div Index COM 97717w505 224 6,254 SH   SOLE   6,254 0 0
Workday Inc-Class A COM 98138h101 563 4,645 SH   SOLE   4,645 0 0
Xcel Energy Inc COM 98389b100 249 5,461 SH   SOLE   5,461 0 0
Xylem Inc COM 98419m100 226 3,360 SH   SOLE   3,360 0 0
Yum! Brands Inc COM 988498101 219 2,806 SH   SOLE   2,806 0 0
Zebra Technologies Corp-Cl A COM 989207105 201 1,400 SH   SOLE   1,400 0 0
Zimmer Biomet Holdings Inc COM 98956p102 3,873 34,757 SH   SOLE   34,757 0 0
iShares Core Dividend Growth COM 46434v621 1,306 38,101 SH   SOLE   38,101 0 0
iShares DJ Select Dividend Ind COM 464287168 8,169 83,575 SH   SOLE   83,575 0 0
iShares DJ US Energy Sector COM 464287796 886 21,132 SH   SOLE   21,132 0 0
iShares DJ US Financial Sect COM 464287788 1,375 11,733 SH   SOLE   11,733 0 0
iShares DJ US Health Car Pro COM 464288828 362 2,059 SH   SOLE   2,059 0 0
iShares DJ US Medical Device COM 464288810 347 1,730 SH   SOLE   1,730 0 0
iShares DJ US Telecommunicatio COM 464287713 230 8,339 SH   SOLE   8,339 0 0
iShares DJ US Transport Index COM 464287192 1,909 10,251 SH   SOLE   10,251 0 0
iShares FTSE/Xinhua China 25 COM 464287184 245 5,711 SH   SOLE   5,711 0 0
iShares Goldman Sachs Tech I COM 464287721 531 2,979 SH   SOLE   2,979 0 0
iShares MSCI EAFE Index COM 464287465 1,358 20,275 SH   SOLE   20,275 0 0
iShares MSCI USA Quality Facto COM 46432f339 1,151 13,796 SH   SOLE   13,796 0 0
iShares Nasdaq Biotech Index F COM 464287556 6,317 57,523 SH   SOLE   57,523 0 0
iShares Russell 1000 Growth COM 464287614 1,087 7,561 SH   SOLE   7,561 0 0
iShares Russell 1000 Value COM 464287598 629 5,182 SH   SOLE   5,182 0 0
iShares Russell 2000 Index Fun COM 464287655 455 2,780 SH   SOLE   2,780 0 0
iShares Russell Midcap Value COM 464287473 211 2,380 SH   SOLE   2,380 0 0
iShares S&P 100 Index Fund COM 464287101 2,326 19,451 SH   SOLE   19,451 0 0
iShares S&P 500 Index Fund COM 464287200 6,749 24,719 SH   SOLE   24,719 0 0
iShares S&P 500 Value Index Fu COM 464287408 220 2,000 SH   SOLE   2,000 0 0
iShares S&P Europe 350 COM 464287861 558 12,490 SH   SOLE   12,490 0 0
iShares S&P Global 100 COM 464287572 760 16,582 SH   SOLE   16,582 0 0
iShares S&P MidCap 400/Growth COM 464287606 210 935 SH   SOLE   935 0 0
iShares S&P Midcap 400 COM 464287507 1,861 9,552 SH   SOLE   9,552 0 0
iShares S&P Midcap 400/Value COM 464287705 563 3,473 SH   SOLE   3,473 0 0
iShares S&P SmallCap 600 COM 464287804 593 7,110 SH   SOLE   7,110 0 0
iShares S&P US Preferred Stock COM 464288687 5,591 148,265 SH   SOLE   148,265 0 0
AGNC Investment Corp 7.75. Per PFD 00123q302 1,185 46,148 SH   SOLE   46,148 0 0
AON Cap 8.205. 1/27 Non-Call B PFD 22532r101 1,874 59,544 SH   SOLE   59,544 0 0
AllState 6.75 2049 Call 10/201 PFD 020002606 237 9,289 SH   SOLE   9,289 0 0
Allied Capital ARCC6.875. 4/20 PFD 01903q207 235 9,245 SH   SOLE   9,245 0 0
Ally 8.125. Call CUM Call 5/17 PFD 361860208 216 8,200 SH   SOLE   8,200 0 0
American Homes 4Rent 6.50. Per PFD 02665t702 362 14,280 SH   SOLE   14,280 0 0
Amtrust Financial 7.5. QDI Cal PFD 032359887 567 26,187 SH   SOLE   26,187 0 0
Amtrust Financial 7.625.CUM QD PFD 032359705 1,027 49,841 SH   SOLE   49,841 0 0
Amtrust Financial 7.75. QDI Ca PFD 032359846 863 37,640 SH   SOLE   37,640 0 0
Annaly Capital6.50.CUM Fix-Flo PFD 035710862 273 11,238 SH   SOLE   11,238 0 0
Apollo Cmmrl Real Est 8.00. CU PFD 03762u501 530 20,674 SH   SOLE   20,674 0 0
Arbor Realty 8.50. CUM Perp Ca PFD 038923801 240 9,103 SH   SOLE   9,103 0 0
Argo Group 6.5. Sr Notes Call PFD 040130205 1,535 60,689 SH   SOLE   60,689 0 0
Arlington Asset Inv 7.00. Cum PFD 041356601 494 20,264 SH   SOLE   20,264 0 0
Ashford Hospitality 7.375. NR PFD 044103604 711 30,101 SH   SOLE   30,101 0 0
Ashford Hospitality 7.5. Calla PFD 044103885 367 15,500 SH   SOLE   15,500 0 0
Atlas Finl SrNt 6.625. Cl 4/20 PFD g06207123 422 17,225 SH   SOLE   17,225 0 0
B Riley Financial 7.375.SnNtsD PFD 05580m504 426 16,700 SH   SOLE   16,700 0 0
B Riley Financial 7.50.SnNts D PFD 05580m306 2,604 103,925 SH   SOLE   103,925 0 0
B Riley Financial 7.50.SnNts d PFD 05580m207 465 18,220 SH   SOLE   18,220 0 0
BGC Partners 8.125. 2042 Call PFD 05541t408 3,492 135,819 SH   SOLE   135,819 0 0
BOFI Holdings 6.25.Sr Nts 2/20 PFD 05566u306 220 8,550 SH   SOLE   8,550 0 0
BancOfCalifornia 7.00. Cal2021 PFD 05990k874 1,907 73,477 SH   SOLE   73,477 0 0
BancOfCalifornia 7.375. Ca2020 PFD 05990k882 7,077 270,841 SH   SOLE   270,841 0 0
BancOfCalifornia 8.00. Cal2018 PFD 05990k403 2,504 95,018 SH   SOLE   95,018 0 0
Bank of America 6.5. Prp Cl 1/ PFD 060505310 410 15,584 SH   SOLE   15,584 0 0
Bank of America 6.625. Called PFD 060505740 551 22,042 SH   SOLE   22,042 0 0
Bank of America 6.625. Prp/Cl9 PFD 060505344 2,639 99,969 SH   SOLE   99,969 0 0
BankofAmerica .1000pv 7.25.Cnv PFD 060505682 5,761 4,607 SH   SOLE   4,607 0 0
Barclays 8.125. Perp/Cl 3/14 B PFD 06739h362 373 14,100 SH   SOLE   14,100 0 0
BlueRock Residential Growth 7. PFD 09627j748 1,323 54,839 SH   SOLE   54,839 0 0
BlueRock Residential Growth 8. PFD 09627j508 3,217 127,337 SH   SOLE   127,337 0 0
CAI Internatnl 8.50.Perp Cum Q PFD 12477x205 2,304 93,382 SH   SOLE   93,382 0 0
CHS Chemical 7.50. Cl 1/2025 C PFD 12542r803 7,404 263,107 SH   SOLE   263,107 0 0
CHS Chemicals 6.75. Perp cl 20 PFD 12542r704 329 12,437 SH   SOLE   12,437 0 0
CHS Chemicals 7.875. Perp cl 2 PFD 12542r308 389 13,597 SH   SOLE   13,597 0 0
CHS Inc. 7.1. fxd to float in PFD 12542r506 274 10,058 SH   SOLE   10,058 0 0
Capital One Finl 6.7.Prp Call PFD 14040h709 1,575 59,221 SH   SOLE   59,221 0 0
CenturyLink Quest 7.0.SnNts Cl PFD 74913g501 2,227 97,232 SH   SOLE   97,232 0 0
ChickenSoup4Soul 9.75.QDI BBB- PFD 16842q209 250 10,000 SH   SOLE   10,000 0 0
Chimera Investment Corp 8. Cal PFD 16934q307 234 9,069 SH   SOLE   9,069 0 0
Chimera Investment Corp 8. Cal PFD 16934q406 568 21,989 SH   SOLE   21,989 0 0
Citigroup 5.8. B1 Call 4/18 QD PFD 172967366 203 7,979 SH   SOLE   7,979 0 0
Citigroup 6.875. Non Cum Call PFD 172967333 225 8,648 SH   SOLE   8,648 0 0
Citigroup 7.125. Flt Aftr 9/23 PFD 172967358 7,020 253,141 SH   SOLE   253,141 0 0
Citigroup Tst 7.875. Cl2015 Li PFD 173080201 945 34,870 SH   SOLE   34,870 0 0
City Office REIT 6.625. CUM Ca PFD 178587200 297 12,216 SH   SOLE   12,216 0 0
Colony Capital 7.125. CUM Call PFD 19626g702 4,889 210,747 SH   SOLE   210,747 0 0
Colony Capital 7.125. CUM Call PFD 19626g603 354 15,300 SH   SOLE   15,300 0 0
Colony Capital 7.125. CUM Call PFD 19626g504 1,277 55,162 SH   SOLE   55,162 0 0
Colony Capital 7.50. CUM Call PFD 19626g405 2,425 100,016 SH   SOLE   100,016 0 0
Colony Capital 8.50. CUM Calle PFD 19625w500 791 31,282 SH   SOLE   31,282 0 0
Colony Capital 8.75. CUM Call PFD 19626g306 649 24,999 SH   SOLE   24,999 0 0
CoreEnergy 7.375. Pfd - Par Ca PFD 21870u304 1,964 77,944 SH   SOLE   77,944 0 0
Cowen 7.35. Sn Notes 2027 Call PFD 223622705 1,492 59,100 SH   SOLE   59,100 0 0
Cowen 7.75. Snr Notes 2033 Cl PFD 223622804 1,442 57,500 SH   SOLE   57,500 0 0
Crown Castle Intl 6.875. MndCo PFD 22822v309 344 322 SH   SOLE   322 0 0
Customers Bk 7.00. Fx Flt Prp/ PFD 23204g407 217 8,261 SH   SOLE   8,261 0 0
Digital Realty 7.375. Perp CUM PFD 253868871 1,941 74,550 SH   SOLE   74,550 0 0
Dynagas LNG 9.0. QDI CUM cl 2 PFD Y2188b116 1,214 46,772 SH   SOLE   46,772 0 0
EBAY 6.00. Sr Notes Call 3/1/2 PFD 278642202 441 16,760 SH   SOLE   16,760 0 0
EaglePoint Credit 6.625. Nts D PFD 269809505 1,250 50,850 SH   SOLE   50,850 0 0
EaglePoint Credit 7.75. Due 10 PFD 269809307 275 10,480 SH   SOLE   10,480 0 0
EaglePoint Credit 7.75.2022 CU PFD 269809109 616 24,342 SH   SOLE   24,342 0 0
Enstar Group 7.0. Perp Call 9/ PFD 29359u109 456 18,050 SH   SOLE   18,050 0 0
Fidus Investment 5.875.Notes D PFD 316500206 638 24,500 SH   SOLE   24,500 0 0
First Republic 7.0. Cl 12/18 B PFD 33616c860 4,335 168,664 SH   SOLE   168,664 0 0
GGP Inc 6.375. Call 2/2018 CUM PFD 370023202 349 14,600 SH   SOLE   14,600 0 0
GasLog LP 8.625.fxd/flt Cum Q PFD y2687w116 804 30,700 SH   SOLE   30,700 0 0
GasLog Ltd 8.375. Ser A CUM QD PFD y2687w124 1,132 44,338 SH   SOLE   44,338 0 0
GasLog Ltd 8.75. Ser A CUM QDI PFD g37585117 1,500 57,044 SH   SOLE   57,044 0 0
Gladstone 7.00. CUM Perp Call PFD 376536603 5,674 223,274 SH   SOLE   223,274 0 0
Gladstone Investment 6.25. CUM PFD 376546503 575 22,608 SH   SOLE   22,608 0 0
Glandstone Invstmt 6.50.SrNts2 PFD 376546404 222 8,663 SH   SOLE   8,663 0 0
Global Indemnity SrNts7.75. Ca PFD g3933f121 1,927 74,999 SH   SOLE   74,999 0 0
Global Indmnty 7.875. Cl2022 b PFD g3933f139 1,060 41,188 SH   SOLE   41,188 0 0
Global Medical RE 7.50. CUM Pe PFD 37957w203 497 20,034 SH   SOLE   20,034 0 0
Global Net Lease 7.25.Perp Cum PFD 379378300 1,575 61,461 SH   SOLE   61,461 0 0
Golar LNG 8.75. Perp QDI Call PFD y2745c110 1,364 54,290 SH   SOLE   54,290 0 0
Goldman 5.5. Flt Aftr 5/23 Cl PFD 38145g308 1,768 68,319 SH   SOLE   68,319 0 0
Great Elm Capital 6.75.SnNts M PFD 390320406 444 17,725 SH   SOLE   17,725 0 0
Hanover Insurance6.35. Cl3/18 PFD 410867204 1,111 43,421 SH   SOLE   43,421 0 0
Hartford Finl 7.875. 2042 call PFD 416518504 1,141 39,200 SH   SOLE   39,200 0 0
Hersha Hospitality 6.50. NR Ca PFD 427825609 287 11,985 SH   SOLE   11,985 0 0
Hoegh LNG Partners 8.75. QDI PFD y3262r118 1,184 46,438 SH   SOLE   46,438 0 0
Horizon Technology Fin 6.25.Sr PFD 44045a300 289 11,350 SH   SOLE   11,350 0 0
IberiaBank Corp 6.60. Call 5/1 PFD 450828504 745 27,444 SH   SOLE   27,444 0 0
Invesco Mortgage 7.75.Perp CUM PFD 46131b209 399 15,985 SH   SOLE   15,985 0 0
JMP Group 8.00. SrDeb Due1/202 PFD 46629u206 392 15,464 SH   SOLE   15,464 0 0
JMP Group SrNts7.25. BBB- 11/2 PFD 466273109 1,152 46,350 SH   SOLE   46,350 0 0
JPMorgan Chase 6.70.Perp/Call PFD 48127a161 1,682 64,132 SH   SOLE   64,132 0 0
Jernigan Capital 7.00. CUM PER PFD 476405204 623 27,222 SH   SOLE   27,222 0 0
Just Energy 8.50.Perp Call3/20 PFD 48213w200 1,342 56,882 SH   SOLE   56,882 0 0
LaSalle Hotel 6.3. Call 5/2021 PFD 517942884 255 10,280 SH   SOLE   10,280 0 0
LaSalle Hotel 6.375. Call 3/20 PFD 517942801 236 9,408 SH   SOLE   9,408 0 0
Landenburg Thalman 7.00.SnNte PFD 50575q110 743 30,250 SH   SOLE   30,250 0 0
M&T Bank 6.375. Cl 11/18 BBB- PFD 55261f708 448 439 SH   SOLE   439 0 0
MFA Financial 7.5. Prp Cl 4/15 PFD 55272x409 216 8,549 SH   SOLE   8,549 0 0
MVC Capital 6.25. SrNts Due12/ PFD 553829409 496 19,650 SH   SOLE   19,650 0 0
Maiden Holdings 8.25.Prp Cl8/2 PFD g5753u120 694 29,200 SH   SOLE   29,200 0 0
Medley Capital7.25.SrNts Due24 PFD 58503y204 454 18,275 SH   SOLE   18,275 0 0
Medley Capitl 6.875.Notes Due2 PFD 58503y105 295 12,425 SH   SOLE   12,425 0 0
Morgan Stanley 7.125.Flt 10/23 PFD 61762v200 4,363 154,605 SH   SOLE   154,605 0 0
National General 7.5. NA Cl Q PFD 636220857 4,784 190,370 SH   SOLE   190,370 0 0
National General 7.50.Call4/20 PFD 636220808 2,677 106,089 SH   SOLE   106,089 0 0
National General 7.625. Call9/ PFD 636220873 1,465 57,257 SH   SOLE   57,257 0 0
National General7.50.Call 7/20 PFD 636220709 2,223 87,797 SH   SOLE   87,797 0 0
New York MtgTrust 7.875.Perp C PFD 649604808 250 10,347 SH   SOLE   10,347 0 0
NewTek Business Svs 6.25. Nts PFD 652526500 1,156 44,650 SH   SOLE   44,650 0 0
NewTek Business Svs 7.50. Nts PFD 652526302 512 19,611 SH   SOLE   19,611 0 0
NuStar Logistics 7.625.Nts Cl PFD 67059t204 1,779 70,164 SH   SOLE   70,164 0 0
OFS Capital 6.375 SnNts 4/2025 PFD 67103b308 803 32,450 SH   SOLE   32,450 0 0
Oxford Lane Cap6.75. Nts 6/202 PFD 691543508 900 35,108 SH   SOLE   35,108 0 0
Oxford Lane Capital 7.50. 6/20 PFD 691543300 203 8,005 SH   SOLE   8,005 0 0
Partner Re 6.50.Perp Cal 4/202 PFD g68603136 2,523 95,145 SH   SOLE   95,145 0 0
Partner Re 7.25. Call 06/21 BB PFD g68603144 6,657 241,008 SH   SOLE   241,008 0 0
Penn RealEstate 7.20.CUM Perp PFD 709102602 223 9,810 SH   SOLE   9,810 0 0
Penn RealEstate 7.375.CUM Perp PFD 709102503 305 13,018 SH   SOLE   13,018 0 0
PennyMac Mtg 8.125. 2024 Libor PFD 70931t301 378 14,908 SH   SOLE   14,908 0 0
Plymouth Industrial 7.50. CUM PFD 729640201 357 14,630 SH   SOLE   14,630 0 0
Priority Income Fund6.375.SnNt PFD 74274w103 359 14,625 SH   SOLE   14,625 0 0
Prospect Captl 6.25. 6/24 SrNt PFD 74348t300 2,263 89,231 SH   SOLE   89,231 0 0
Prudential PLC 6.75. PrpCl 9/0 PFD g7293h114 400 15,277 SH   SOLE   15,277 0 0
QTS Realty 7.125. Perp Cum Cl PFD 74736a202 703 27,325 SH   SOLE   27,325 0 0
Quest USWest 7.0. SrNts 2/56 C PFD 74913g808 3,330 136,143 SH   SOLE   136,143 0 0
Quest USWest SnNotes 7.0. 2052 PFD 74913G402 976 42,715 SH   SOLE   42,715 0 0
Quest USWestSnNote7.5. BBB- Cl PFD 74913g303 1,392 55,257 SH   SOLE   55,257 0 0
Quest USWestSnNotes 6.875. CL PFD 74913g105 2,321 103,945 SH   SOLE   103,945 0 0
Qwest Corp 6.5. Sr Note 9/56 C PFD 74913g881 1,358 62,950 SH   SOLE   62,950 0 0
Qwest Corp 6.75. SrNote 6/57 C PFD 74913g873 676 30,575 SH   SOLE   30,575 0 0
RLJ Lodging .1.95 Cnv@89.09 B- PFD 74965l200 226 8,630 SH   SOLE   8,630 0 0
Regions Financial 6.375. Cl 12 PFD 7591ep308 397 15,566 SH   SOLE   15,566 0 0
Reinsurance Group ofAmer 6.2. PFD 759351703 257 9,400 SH   SOLE   9,400 0 0
SL Green Realty 6.5. Perp CUM PFD 78440x507 1,533 60,744 SH   SOLE   60,744 0 0
SoCalEd 5.375. CUM cl 2025 QDI PFD 78409g206 796 31,451 SH   SOLE   31,451 0 0
Sotherly Hotels 7.25. SrNt2021 PFD 83600e307 686 26,600 SH   SOLE   26,600 0 0
Sotherly Hotels 7.875. Cum Per PFD 83600c400 970 38,371 SH   SOLE   38,371 0 0
Sotherly Hotels 8. Cum Perp C PFD 83600c301 2,907 114,896 SH   SOLE   114,896 0 0
Southerland Asset Mgt Sr 6.5. PFD 86933f701 553 21,565 SH   SOLE   21,565 0 0
Spark Energy 8.75. Call 2022 Q PFD 846511202 775 33,522 SH   SOLE   33,522 0 0
Summitt Hotel Prp 6.25.CUM Per PFD 866082605 213 8,800 SH   SOLE   8,800 0 0
Sunstone Hotel 6.95. Prp/Cl 3/ PFD 867892606 764 30,087 SH   SOLE   30,087 0 0
Sutherland Asset Mgt 7.0.SrNts PFD 86933f602 208 8,000 SH   SOLE   8,000 0 0
Synovus 7.875. QDI BB- Called PFD 87161c402 302 11,872 SH   SOLE   11,872 0 0
Teekay Offshore 8.875.Cum Cl 2 PFD Y8561j176 245 9,785 SH   SOLE   9,785 0 0
Telephone & Data 6.875. Cl 11/ PFD 879433845 2,011 79,075 SH   SOLE   79,075 0 0
Telephone & Data 7.0. Cl 3/16 PFD 879433837 648 25,702 SH   SOLE   25,702 0 0
Texas Capitl Bancshares6.50. 2 PFD 882228307 444 17,417 SH   SOLE   17,417 0 0
Torchmark Crp 6.125. SubDebCal PFD 891027401 790 30,350 SH   SOLE   30,350 0 0
TriState Capital Hlds 6.75. Pe PFD 89678f209 1,127 43,000 SH   SOLE   43,000 0 0
Triangle Capitl 6.375. Called PFD 895848406 887 35,300 SH   SOLE   35,300 0 0
Two Harbors Investments 7.625. PFD 90187b309 281 10,880 SH   SOLE   10,880 0 0
Two Harbors Investments 8.125. PFD 90187b200 626 23,007 SH   SOLE   23,007 0 0
UMH Properties 8.0. Perp Cum C PFD 903002301 567 21,443 SH   SOLE   21,443 0 0
US Bancorp 6.5. Flt Aftr 1/22 PFD 902973833 943 34,040 SH   SOLE   34,040 0 0
US Celllular SrNts 7.25. 2063 PFD 911684504 483 18,875 SH   SOLE   18,875 0 0
US Cellular 6.95.SrNT 2060 Cl PFD 911684405 380 15,125 SH   SOLE   15,125 0 0
US Cellular 7.25. SrNts12/2064 PFD 911684603 1,804 70,427 SH   SOLE   70,427 0 0
VEREIT Inc 6.70. Perp CUM Cl 2 PFD 92339v209 782 31,144 SH   SOLE   31,144 0 0
Wells Fargo 5.85.Flt Aftr 9/23 PFD 949746556 438 16,922 SH   SOLE   16,922 0 0
Wells Fargo 6.375. Cl 12/19 BB PFD 94988n207 745 28,770 SH   SOLE   28,770 0 0
Wells Fargo 7.5. Cnv@.156 .100 PFD 949746804 16,836 13,372 SH   SOLE   13,372 0 0
Wells Fargo 8.00. BBB- Called PFD 949746879 4,105 159,726 SH   SOLE   159,726 0 0
WinTrust Financial 6.50. Call PFD 97650w405 251 9,361 SH   SOLE   9,361 0 0
American Express Cp 5.2. - Cal PFD 025816BJ7 609 600,000 PRN   SOLE   600,000 0 0
Bank of America 5.20. Perp/Cal PFD 060505ED2 1,494 1,515,000 PRN   SOLE   1,515,000 0 0
Bank of NY Mellon - Call 6/20/ PFD 064058AD2 812 800,000 PRN   SOLE   800,000 0 0
Charles Schwab 4.625. Perp/Cal PFD 808513AP0 539 540,000 PRN   SOLE   540,000 0 0
Charles Schwab 7. Perp/Call 2/ PFD 808513AE5 1,333 1,212,000 PRN   SOLE   1,212,000 0 0
Citigroup 5.35. Perp/Call 5/23 PFD 172967GR6 728 740,000 PRN   SOLE   740,000 0 0
Citigroup 5.875. Perp/Call 3/2 PFD 172967JK8 359 350,000 PRN   SOLE   350,000 0 0
Citigroup Inc - Callable 11/15 PFD 172967HZ7 409 400,000 PRN   SOLE   400,000 0 0
Citigroup Inc 5.95. Perp Call PFD 172967GD7 1,170 1,150,000 PRN   SOLE   1,150,000 0 0
Citigroup Inc 6.125. Perp Call PFD 172967KD2 570 550,000 PRN   SOLE   550,000 0 0
Citigroup Inc Fix-to-Float Per PFD 172967GF2 708 700,000 PRN   SOLE   700,000 0 0
Fifth Third Bancorp 4.9. until PFD 316773CR9 581 585,000 PRN   SOLE   585,000 0 0
GE Cap Corp 5.00. Perp/Call 1/ PFD 369604BQ5 1,879 1,905,000 PRN   SOLE   1,905,000 0 0
Goldman Sachs 5. Perp/Call 11/ PFD 38148BAD0 484 515,000 PRN   SOLE   515,000 0 0
Goldman Sachs 5.375 Perp/Call PFD 38148BAB4 624 615,000 PRN   SOLE   615,000 0 0
Goldman Sachs 5.7 Perp/Call 5/ PFD 38148BAA6 1,232 1,215,000 PRN   SOLE   1,215,000 0 0
JPMorgan 5.3. Perp/Call 5/1/20 PFD 46625HKK5 305 300,000 PRN   SOLE   300,000 0 0
JPMorgan 6.0. Perp/Call 8/23 - PFD 48126HAA8 3,103 3,050,000 PRN   SOLE   3,050,000 0 0
JPMorgan 7.9. Perp/Call 4/18 - PFD 46625HHA1 3,162 3,135,000 PRN   SOLE   3,135,000 0 0
MetLife Inc. 5.25. Call 6/15/2 PFD 59156RBP2 290 285,000 PRN   SOLE   285,000 0 0
Morgan Stanley 5.45. Perp/Call PFD 61761JQK8 505 500,000 PRN   SOLE   500,000 0 0
So. Cal Edison 6.25. Perp/Call PFD 842400FU2 644 605,000 PRN   SOLE   605,000 0 0
Stanley Black & Decker Callabl PFD 854502AF8 1,151 1,145,000 PRN   SOLE   1,145,000 0 0
Suntrust Bank 5.05. Call 2022- PFD 867914BN2 382 390,000 PRN   SOLE   390,000 0 0
US Bancorp - Callable 1/15/21 PFD 902973AY2 304 300,000 PRN   SOLE   300,000 0 0
Wachovia (WFC) Perp/Call 2/11 PFD 92978AAA0 2,660 2,700,000 PRN   SOLE   2,700,000 0 0
Wells Fargo & Company Perp/Cal PFD 949746PM7 558 552,000 PRN   SOLE   552,000 0 0