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
COLONY FINANCIAL CONV. SR NT Convertible Bonds 19624RAB2 3,106 3,250,000 PRN   SOLE 0 750,000 0 2,500,000
HCI GROUP CONV. SR NT Convertible Bonds 40416EAB9 10,151 11,155,000 PRN   SOLE 0 1,685,000 0 9,470,000
MACQUARIE INFRASTRUCTURE Convertible Bonds 55608BAA3 114 100,000 PRN   SOLE 0 0 0 100,000
Royal Gold Inc Conv Sr Note 2.875% 06/15/19 Convertible Bonds 780287AA6 11 11,000 PRN   SOLE 0 11,000 0 0
APPLE COMPUTER INC Common Stocks 037833100 1,092 9,903 SH   SOLE 0 482 0 9,421
AMERICAN MIDSTREAM PARTNERS LLP Common Stocks 02752P100 228 20,550 SH   SOLE 0 0 0 20,550
JPMORGAN CHASE & CO ALERIAN ML ETN Equity ETN 46625H365 1,923 63,270 PRN   SOLE 0 24,353 0 38,917
AMERIPRISE FINL INC Common Stocks 03076C106 262 2,400 SH   SOLE 0 0 0 2,400
AMERICAN RIVER BANKSHRS Common Stocks 029326105 112 11,675 SH   SOLE 0 11,675 0 0
AMAZON COM INC Common Stocks 023135106 3,756 7,338 SH   SOLE 0 0 0 7,338
ALPINE TOTAL DYNAMIC DIVIDEND FUND Equity Closed-End Fund 021060207 8,510 1,134,698 PRN   SOLE 0 487,255 0 647,444
AMERICAN EXPRESS CO Common Stocks 025816109 927 12,500 SH   SOLE 0 0 0 12,500
BREITBURN ENERGY PARTNERS LPCOM UT LTD PTN Common Stocks 106776107 52 25,500 SH   SOLE 0 0 0 25,500
POWERSHARES SENIOR LOAN Fixed Income ETF 73936Q769 806 35,000 PRN   SOLE 0 0 0 35,000
BRYN MAWR BANK CORP Common Stocks 117665109 5,974 192,262 SH   SOLE 0 84,396 0 107,866
BLUEROCK RESIDENTIAL GROWTH Common Stocks 09627J102 6,230 520,007 SH   SOLE 0 245,702 0 274,305
CELGENE CORP Common Stocks 151020104 747 6,905 SH   SOLE 0 0 0 6,905
COMCAST CORP NEW CL A Common Stocks 20030N101 215 3,772 SH   SOLE 0 3,712 0 60
COBIZ FINANCIAL INC Common Stocks 190897108 166 12,725 SH   SOLE 0 12,725 0 0
COSTCO WHOLESALE CORP Common Stocks 22160K105 289 2,000 SH   SOLE 0 0 0 2,000
CVS CORP Common Stocks 126650100 7,451 77,227 SH   SOLE 0 38,974 0 38,253
WALT DISNEY COMPANY Common Stocks 254687106 1,077 10,541 SH   SOLE 0 80 0 10,461
DOLLAR TREE INC Common Stocks 256746108 667 10,000 SH   SOLE 0 0 0 10,000
PROSHARES SHORT DOW 30 Equity ETFs 74347R701 221 9,000 PRN   SOLE 0 0 0 9,000
EDAP TMS SA-ADR Common Stocks 268311107 307 55,000 SH   SOLE 0 0 0 55,000
ENTERPRISE PRODS PARTNERS L COM UNIT Common Stocks 293792107 17,567 705,519 SH   SOLE 0 214,846 0 490,673
ENERGY TRANSFER EQUITY L P UT LTD PTN Common Stocks 29273V100 749 36,000 SH   SOLE 0 8,000 0 28,000
ENERGY TRANSFER PARTNERS L.P. Common Stocks 29273R109 301 7,322 SH   SOLE 0 0 0 7,322
EV ENERGY PARTNERS LP Common Stocks 26926V107 81 13,500 SH   SOLE 0 0 0 13,500
FACEBOOK INC Common Stocks 30303M102 405 4,500 SH   SOLE 0 0 0 4,500
FCB FINANCIAL HOLDINGS Common Stocks 30255G103 389 11,920 SH   SOLE 0 11,920 0 0
1ST CENTY BANCSHARES INC COM Common Stocks 31943X102 189 23,920 SH   SOLE 0 23,920 0 0
FEDERATED INVESTORS INC-CL B Common Stocks 314211103 770 26,655 SH   SOLE 0 1,875 0 24,780
WINTHROP REALTY TRUST Common Stocks 976391300 17,562 1,223,006 SH   SOLE 0 489,733 0 733,273
GENESIS ENERGY LP Common Stocks 371927104 231 6,030 SH   SOLE 0 0 0 6,030
GILEAD Sciences Common Stocks 375558103 367 3,734 SH   SOLE 0 3,234 0 500
GREEN BANCORP INC Common Stocks 39260X100 134 11,655 SH   SOLE 0 11,655 0 0
GOOGLE INC CL C Common Stocks 38259P706 2,745 4,511 SH   SOLE 0 6 0 4,505
GOOGLE INC Common Stocks 38259P508 426 667 SH   SOLE 0 4 0 663
GRAMERCY PROPERTY TRUST INC Common Stocks 38489R605 10,274 494,654 SH   SOLE 0 196,105 0 298,549
HOWARD BANCORP Common Stocks 442496105 2,712 191,000 SH   SOLE 0 0 0 191,000
HERITAGE FINANCIAL CORP Common Stocks 42722X106 6,461 343,328 SH   SOLE 0 153,510 0 189,818
HSBC HOLDINGS PLC 6.2% SER A FC 12/21/12 Preferred Stock 404280604 2,452 96,931 PRN   SOLE 0 43,771 0 53,160
HERITAGE COMMERCE CORP Common Stocks 426927109 589 51,896 SH   SOLE 0 44,691 0 7,205
Ishares Russell 1000 Growth ETF Equity ETFs 464287614 264 2,835 PRN   SOLE 0 2,835 0 0
NUVEEN MORTGAGE OPPORTUNITY OPPORTUNITY FUND Fixed Income Closed-End Fund 670735109 9,089 405,744 PRN   SOLE 0 170,872 0 234,872
JOHNSON & JOHNSON Common Stocks 478160104 904 9,683 SH   SOLE 0 498 0 9,185
KINGSTONE INC Common Stocks 496719105 173 20,000 SH   SOLE 0 0 0 20,000
KINDER MORGAN INC Common Stocks 49456B101 836 30,197 SH   SOLE 0 0 0 30,197
ISHARES IBOXX INVESTMENT GRADE CORP BOND Fixed Income ETF 464287242 17,437 150,206 PRN   SOLE 0 78,289 0 71,917
LEGACYTEXAS FINANCIAL GROUP Common Stocks 52471Y106 222 7,270 SH   SOLE 0 7,270 0 0
MATTEL INC. Common Stocks 577081102 561 26,625 SH   SOLE 0 0 0 26,625
MEDLEY CAP CORP Common Stocks 58503F106 6,569 882,922 SH   SOLE 0 394,093 0 488,829
MCDONALDS CORP Common Stocks 580135101 10,578 107,361 SH   SOLE 0 43,334 0 64,027
MONDELEZ INTERNATIONAL INC Common Stocks 609207105 723 17,264 SH   SOLE 0 0 0 17,264
SPDR S&P MIDCAP ETF TRST Equity ETFs 78467Y107 249 1,000 PRN   SOLE 0 0 0 1,000
MAGELLAN MIDSTREAM PARTNERS LP Common Stocks 559080106 14,194 236,139 SH   SOLE 0 82,371 0 153,768
MERCK & COMPANY Common Stocks 58933Y105 225 4,547 SH   SOLE 0 2,750 0 1,797
MARKWEST ENERGY PARTNERS L PUNIT LTD PARTN Common Stocks 570759100 279 6,500 SH   SOLE 0 0 0 6,500
NEXTERA ENERGY, INC. Common Stocks 65339F101 668 6,843 SH   SOLE 0 0 0 6,843
TARGA RESOURCES PARTNERS LP COM UNIT Common Stocks 87611X105 1,966 67,700 SH   SOLE 0 0 0 67,700
Nuveen Dividend Advantage Municipal Income Fund Fixed Income Closed-End Fund 67071L106 446 32,000 PRN   SOLE 0 0 0 32,000
NOVARTIS AG SPONSORED ADR Common Stocks 66987V109 9,061 98,580 SH   SOLE 0 41,016 0 57,564
OXBRIDGE RE HOLDINGS LTD Common Stocks G6856M106 118 19,750 SH   SOLE 0 0 0 19,750
PLAINS ALL AMERN PIPELINE L UNIT L P INT Common Stocks 726503105 4,092 134,683 SH   SOLE 0 7,800 0 126,883
PIMCO DYNAMIC INC FUND Fixed Income Closed-End Fund 72201Y101 15,491 537,878 PRN   SOLE 0 207,722 0 330,156
PFIZER INC Common Stocks 717081103 6,653 211,827 SH   SOLE 0 118,899 0 92,928
ISHARES S&P PREFERRED STOCK INDEX FUND Preferred Stock 464288687 2,903 75,210 PRN   SOLE 0 280 0 74,930
PROCTER & GAMBLE COMPANY Common Stocks 742718109 260 3,617 SH   SOLE 0 0 0 3,617
PINNACLE FINANCIAL PARTNERS Common Stocks 72346Q104 274 5,540 SH   SOLE 0 5,540 0 0
RITE AID CORP Common Stocks 767754104 516 85,000 SH   SOLE 0 0 0 85,000
REPUBLIC SERVICES, INC. Common Stocks 760759100 8,952 217,275 SH   SOLE 0 103,142 0 114,133
SERVISFIRST BANCSHARES INC Common Stocks 81768T108 385 9,275 SH   SOLE 0 9,275 0 0
PROSHARES TR PSHS SHRT S&P5 Equity ETFs 74347R503 1,971 87,575 PRN   SOLE 0 32,939 0 54,636
STERLING BANCORP Common Stocks 85917A100 9,956 669,540 SH   SOLE 0 286,858 0 382,682
STONEMOR PARTNERS LP Common Stocks 86183Q100 6,601 241,978 SH   SOLE 0 106,794 0 135,184
CONSTELLATION BRANDS INC-A Common Stocks 21036P108 8,779 70,118 SH   SOLE 0 34,620 0 35,498
SILVERCREST MINES INC. Common Stocks 828365106 114 130,000 SH   SOLE 0 130,000 0 0
A T & T INC (NEW) Common Stocks 00206R102 223 6,843 SH   SOLE 0 0 0 6,843
TALLGRASS ENERGY PARTNERS LP Common Stocks 874697105 1,089 27,715 SH   SOLE 0 0 0 27,715
THORATEC CORP NEW Common Stocks 885175307 264 4,175 SH   SOLE 0 0 0 4,175
TOOTSIE ROLL INDUSTRIES, INC. Common Stocks 890516107 4,589 146,669 SH   SOLE 0 66,477 0 80,192
TWO HBRS INVT CORP Common Stocks 90187B101 235 26,685 SH   SOLE 0 17,000 0 9,685
VECTOR GROUP LTD. Common Stocks 92240M108 10,919 482,947 SH   SOLE 0 216,452 0 266,495
VANGUARD DIVIDEND APPREC Equity ETFs 921908844 243 3,295 PRN   SOLE 0 3,295 0 0
VERIZON COMMUNICATIONS Common Stocks 92343V104 450 10,338 SH   SOLE 0 750 0 9,588
WESTERN GAS PARTNERS LP UNIT LP IN Common Stocks 958254104 3,607 77,040 SH   SOLE 0 500 0 76,540
WESTWOOD HOLDINGS GROUP, INC. Common Stocks 961765104 4,427 81,458 SH   SOLE 0 35,524 0 45,934
WHEELER REAL ESTATE SER B. 9.00% CONV. PREF Preferred Stock 963025309 2,858 122,905 PRN   SOLE 0 47,175 0 75,730
WAL MART STORES INC Common Stocks 931142103 764 11,777 SH   SOLE 0 270 0 11,507
WILLIAMS PARTNERS LP Common Stocks 96949L105 718 22,492 SH   SOLE 0 0 0 22,492
EXXON MOBIL CORP Common Stocks 30231G102 504 6,775 SH   SOLE 0 0 0 6,775
ZELTIQ AESTHETICS INC Common Stocks 98933Q108 359 11,200 SH   SOLE 0 0 0 11,200