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
Abbott Common 002824100 8,789 229,300 SH   SOLE   229,300 0 0
Abbvie Common 00287Y109 12,214 231,300 SH   SOLE   231,300 0 0
AES CORP Pfd. C Pfd 6.75% 00808N202 2,339 46,400 SH   SOLE   46,400 0 0
Allstate Common 020002101 17,834 327,000 SH   SOLE   327,000 0 0
AMERCO Common 023586100 59,107 249,400 SH   SOLE   249,400 0 0
Agenus Common 00847G705 616 233,515 SH   SOLE   233,515 0 0
Ashland Common 044209104 2,425 25,000 SH   SOLE   25,000 0 0
Sandridge Energy Common 80007P307 1,105 182,168 SH   SOLE   182,168 0 0
Sandridge Energy Pfd 8.5% 80007P604 6,420 60,000 SH   SOLE   60,000 0 0
Calpine Common 131347304 5,752 294,849 SH   SOLE   294,849 0 0
C&J Energy Common 12467B304 4,620 200,000 SH   SOLE   200,000 0 0
BPZ Resources Cv 6.5% 055639aa6 2,745 3,000,000 PRN   SOLE   3,000,000 0 0
Bunge Common G16962105 6,150 75,000 SH   SOLE   75,000 0 0
Bunge Pfd 4.875% 032549322 4,001 37,400 SH   SOLE   37,400 0 0
DeCode Genetics Cv 3.5% 243586AB0 867 24,787,000 PRN   SOLE   24,787,000 0 0
Diamond Foods Common 252603105 8,346 323,000 SH   SOLE   323,000 0 0
Direct TV Common 25490A101 5,968 86,500 SH   SOLE   86,500 0 0
Double Eagle Common 258570209 365 156,919 SH   SOLE   156,919 0 0
DURECT CORP Common 266605104 2,103 1,215,973 SH   SOLE   1,215,973 0 0
EDAP Common 268311107 4,649 1,565,494 SH   SOLE   1,565,494 0 0
Endeavor Cv 5.5% 29257MAD2 9,517 11,750,000 PRN   SOLE   11,750,000 0 0
Exxon Common 30231G102 524 5,184 SH   SOLE   5,184 0 0
Flotek Common 343389102 16,793 839,671 SH   SOLE   839,671 0 0
Nextera Energy Common 302571104 10,540 124,000 SH   SOLE   124,000 0 0
GAINSCO INC Common 363127200 1,937 240,727 SH   SOLE   240,727 0 0
Hospira Common 441060100 412 10,000 SH   SOLE   10,000 0 0
IBM Common 459200101 14,604 78,100 SH   SOLE   78,100 0 0
Integrys Energy Common 92931B106 1,882 34,594 SH   SOLE   34,594 0 0
Intermune Cv 5.0% 45884XAD5 1,755 1,500,000 PRN   SOLE   1,500,000 0 0
Intermune Cv 2.5% 45884XAF0 10,425 7,500,000 PRN   SOLE   7,500,000 0 0
INTERNET CAPITAL Common 46059C205 2,855 153,300 SH   SOLE   153,300 0 0
Kinross Common 496902404 1,510 344,848 SH   SOLE   344,848 0 0
Kellogg Common 487836108 270 4,436 SH   SOLE   4,436 0 0
Mannkind Cv 5.75% 56400PAC6 29,983 29,110,000 PRN   SOLE   29,110,000 0 0
MERCK & CO INC Common 589331107 13,075 261,500 SH   SOLE   261,500 0 0
Midway Games Cv 6% 598148AB0 381 2,700,000 PRN   SOLE   2,700,000 0 0
Titan Wheel Common 88830m102 7,650 425,000 SH   SOLE   425,000 0 0
Titan Wheel Cv 5.625% 888305aa7 1,910 1,000,000 SH   SOLE   1,000,000 0 0
Omega Protein Common 68210P107 7,200 600,000 SH   SOLE   600,000 0 0
Oscient Pharm Corp Cv 12.5% 68812RAD7 129 2,499,575 PRN   SOLE   2,499,575 0 0
Perrigo Common BGH1M56 1,523 9,926 SH   SOLE   9,926 0 0
Petroquest Pfd 6.875% 716748207 7,105 203,000 SH   SOLE   203,000 0 0
PFIZER INC Common 717081103 13,844 452,000 SH   SOLE   452,000 0 0
Pepco Holding Common 713291102 1,165 60,900 SH   SOLE   60,900 0 0
RLI CORP Common 749607107 7,255 74,800 SH   SOLE   74,800 0 0
Solitario Common 8342EP107 215 254,040 SH   SOLE   254,040 0 0
Supernus Cv 7.5% 868459AA6 2,460 1,500,000 PRN   SOLE   1,500,000 0 0
Unisource Energy Common 909205106 10,473 175,000 SH   SOLE   175,000 0 0
US Ecology Common 91732J102 940 25,300 SH   SOLE   25,300 0 0
Astrotech Common 846243400 3,028 1,070,073 SH   SOLE   1,070,073 0 0
Viropharma Cv 2% 928241AH1 5,340 2,000,000 PRN   SOLE   2,000,000 0 0
XM Sirius Cv 7% 98375YAU0 7,800 4,000,000 PRN   SOLE   4,000,000 0 0
XEL Energy Common 98389B100 686 24,511 SH   SOLE   24,511 0 0