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
JOHNSON & JOHNSON COM Stock 478160104 269 2,764 SH   SOLE 0 2,764 0 0
VIASAT INC COM Stock 92552V100 270 4,481 SH   SOLE 0 4,481 0 0
PROCTER & GAMBLE CO COM Stock 742718109 243 3,105 SH   SOLE 0 3,105 0 0
ENTERPRISE PRODS PARTNERS L P MLP 293792107 592 19,812 SH   SOLE 0 19,812 0 0
HESS CORP COM Stock 42809H107 6,036 90,248 SH   SOLE 0 90,248 0 0
ILLINOIS TOOL WKS INC COM Stock 452308109 344 3,750 SH   SOLE 0 3,750 0 0
DAVITA INC COM Stock 23918K108 9,936 125,032 SH   SOLE 0 125,032 0 0
CHUBB CORP COM Stock 171232101 392 4,122 SH   SOLE 0 4,122 0 0
PEPSICO INC COM Stock 713448108 294 3,150 SH   SOLE 0 3,150 0 0
BERKSHIRE HATHAWAY INC DEL CL B Stock 084670702 295 2,168 SH   SOLE 0 2,168 0 0
AUTOMATIC DATA PROCESSING INC COM Stock 053015103 320 3,984 SH   SOLE 0 3,984 0 0
COLONY CAP INC CL A REIT 19624R106 10,484 462,849 SH   SOLE 0 462,849 0 0
MICROSOFT Stock 594918104 1,184 26,815 SH   SOLE 0 26,815 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN MLP Y8565J101 392 19,400 SH   SOLE 0 19,400 0 0
HUNTSMAN CORP COM Stock 447011107 9,413 426,519 SH   SOLE 0 426,519 0 0
KKR & CO L P DEL COM UNITS MLP 48248M102 2,800 122,549 SH   SOLE 0 122,549 0 0
HOWARD HUGHES CORP COM Stock 44267D107 10,171 70,858 SH   SOLE 0 70,858 0 0
KEARNY FINL CORP MD COM Stock 48716P108 3,894 348,930 SH   SOLE 0 348,930 0 0
PLAINS ALL AMERICAN PIPELINE LP MLP 726503105 264 6,050 SH   SOLE 0 6,050 0 0
APOLLO GLOBAL MGMT LLC CL A SHS MLP 037612306 1,664 75,130 SH   SOLE 0 75,130 0 0
AMERICAN INTL GROUP INC WT EXP 011921 Stock 026874156 6,851 247,251 SH   SOLE 0 247,251 0 0
MARATHON PETE CORP Stock 56585A102 3,201 61,194 SH   SOLE 0 61,194 0 0
MAGELLAN MIDSTREAM PARTNERS LP MLP 559080106 216 2,940 SH   SOLE 0 2,940 0 0
ENERGY TRANSFER EQUITY L P COM UNIT LTD PARTNERSHIP MLP 29273V100 1,401 21,830 SH   SOLE 0 21,830 0 0
ALLERGAN PLC SHS Stock G0177J108 5,968 19,668 SH   SOLE 0 19,668 0 0
OAKTREE CAP GROUP LLC UNIT CL A MLP 674001201 4,131 77,683 SH   SOLE 0 77,683 0 0
CARLYLE GROUP L P COM UTS LTD PTN MLP 14309L102 2,794 99,240 SH   SOLE 0 99,240 0 0
KINDER MORGAN INC Stock 49456B101 521 13,562 SH   SOLE 0 13,562 0 0
NUVEEN FLOATING RATE INCOME FD COM CEF 67072T108 247 23,000 SH   SOLE 0 23,000 0 0
LIBERTY MEDIA CORP Stock 531229102 5,653 156,845 SH   SOLE 0 156,845 0 0
STARZ COM SER A Stock 85571Q102 257 5,743 SH   SOLE 0 5,743 0 0
TEEKAY CORPORATION COM Stock Y8564W103 6,860 160,205 SH   SOLE 0 160,205 0 0
PBF ENERGY INC CL A Stock 69318G106 4,055 142,696 SH   SOLE 0 142,696 0 0
BLACKSTONE GROUP LP MLP 09253U108 981 24,000 SH   SOLE 0 24,000 0 0
COLONY CAP INC 5% 04/15/2023 Convertible 19624RAA4 7,287 6,980,000 SH   SOLE 0 6,980,000 0 0
CULLEN FROST BANKERS INC COM Stock 229899109 972 12,364 SH   SOLE 0 12,364 0 0
MCDONALDS CORP COM Stock 580135101 304 3,200 SH   SOLE 0 3,200 0 0
NEW RESIDENTIAL INVESTMENT CORP REIT 64828T201 6,997 459,093 SH   SOLE 0 459,093 0 0
AT&T INC COM Stock 00206R102 345 9,717 SH   SOLE 0 9,717 0 0
CHEVRON CORP NEW COM Stock 166764100 333 3,448 SH   SOLE 0 3,448 0 0
NEW MEDIA INVT GROUP INC COM Stock 64704V106 239 13,350 SH   SOLE 0 13,350 0 0
INTL BUSINESS MACHINES Stock 459200101 478 2,936 SH   SOLE 0 2,936 0 0
3M CO COM Stock 88579Y101 442 2,866 SH   SOLE 0 2,866 0 0
AMGEN INC Stock 031162100 422 2,752 SH   SOLE 0 2,752 0 0
WILLIAMS COS INC DEL COM Stock 969457100 10,087 175,762 SH   SOLE 0 175,762 0 0
BENEFICIAL BANCORP INC COM Stock 08171T102 3,443 275,640 SH   SOLE 0 275,640 0 0
GRACE W R & CO DEL NEW COM Stock 38388F108 4,317 43,039 SH   SOLE 0 43,039 0 0
NORTHSTAR ASSET MGMT GROUP INC COM Stock 66705Y104 5,326 288,039 SH   SOLE 0 288,039 0 0
FIDELITY NATIONAL FINANCIAL IN FNF GROUP COM Stock 31620R303 4,062 109,800 SH   SOLE 0 109,800 0 0
FNFV VENTURES Stock 31620R402 625 40,663 SH   SOLE 0 40,663 0 0
ECHOSTAR HOLDING CORP Stock 278768106 1,085 22,280 SH   SOLE 0 22,280 0 0
LIBERTY MEDIA CORP SERIES C Stock 531229300 5,206 145,009 SH   SOLE 0 145,009 0 0
LIBERTY BROADBAND CORP COM SER A Stock 530307107 909 17,843 SH   SOLE 0 17,843 0 0
LIBERTY BROADBAND CORP COM SER C Stock 530307305 2,401 46,933 SH   SOLE 0 46,933 0 0
DOW CHEM CO COM Stock 260543103 524 10,250 SH   SOLE 0 10,250 0 0
EXXON MOBIL CORP COM Stock 30231G102 591 7,098 SH   SOLE 0 7,098 0 0
LOWES COS INC COM Stock 548661107 335 5,000 SH   SOLE 0 5,000 0 0
PHH CORP COM NEW Stock 693320202 8,920 342,670 SH   SOLE 0 342,670 0 0