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
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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
ARCC Ares Capl Corp COM 04010L103 201 11,700 SH   SOLE   11,700 0 0
AT&T Inc. COM 00206R102 6,979 213,742 SH   SOLE   213,742 0 0
Allstate Corp. COM 020002101 4,244 59,635 SH   SOLE   59,635 0 0
AnnalyCapMgmtIncREIT COM 035710409 3,218 309,415 SH   SOLE   309,415 0 0
Applied Materials COM 038222105 2,013 89,235 SH   SOLE   89,235 0 0
ArcherDanielsMidland COM 039483102 1,702 35,905 SH   SOLE   35,905 0 0
BB&T Corporation COM 054937107 1,294 33,190 SH   SOLE   33,190 0 0
Bank of America Corp. COM 060505104 3,775 245,262 SH   SOLE   245,262 0 0
Black Box Corporation COM 091826107 3,244 155,016 SH   SOLE   155,016 0 0
Boeing Company COM 097023105 5,679 37,840 SH   SOLE   37,840 0 0
CXW Corrections Corp COM 22025Y407 217 5,400 SH   SOLE   5,400 0 0
California Resources Crp COM 13057Q107 141 18,468 SH   SOLE   18,468 0 0
Citigroup Inc COM 172967424 2,824 54,820 SH   SOLE   54,820 0 0
Coach Inc. COM 189754104 4,975 120,070 SH   SOLE   120,070 0 0
Cullen Frost Bankers COM 229899109 5,311 76,876 SH   SOLE   76,876 0 0
Dover Corporation COM 260003108 1,815 26,265 SH   SOLE   26,265 0 0
Dow Chemical Co COM 260543103 5,192 108,204 SH   SOLE   108,204 0 0
EMC Corporation COM 268648102 2,799 109,525 SH   SOLE   109,525 0 0
EXL Excel Trust Inc COM 30068C109 160 11,400 SH   SOLE   11,400 0 0
Emcore Corporation COM 290846203 68 12,500 SH   SOLE   12,500 0 0
Enzo Biochem Inc. COM 294100102 207 70,001 SH   SOLE   70,001 0 0
FSP Franklin Str PrpCrp COM 35471R106 179 14,000 SH   SOLE   14,000 0 0
GBDC Golub Cap BDC COM 38173M102 177 10,100 SH   SOLE   10,100 0 0
General Motors Co COM 37045V100 6,789 181,030 SH   SOLE   181,030 0 0
HTGC HerculesTchGr COM 427096508 191 14,200 SH   SOLE   14,200 0 0
Hewlett-Packard Co COM 428236103 1,940 62,270 SH   SOLE   62,270 0 0
Hospitality Prp Tr REIT COM 44106M102 267 8,100 SH   SOLE   8,100 0 0
IBM Corporation COM 459200101 5,597 34,875 SH   SOLE   34,875 0 0
IRC Inland RE Corp COM 457461200 181 16,900 SH   SOLE   16,900 0 0
Johnson Controls Inc COM 478366107 1,311 25,990 SH   SOLE   25,990 0 0
Lincoln National Corp. COM 534187109 1,539 26,777 SH   SOLE   26,777 0 0
MCY Mercury GenlCrp COM 589400100 219 3,800 SH   SOLE   3,800 0 0
Marsh & McLennan COM 571748102 2,120 37,790 SH   SOLE   37,790 0 0
Merck & Co. Inc. COM 58933Y105 2,180 37,932 SH   SOLE   37,932 0 0
Mosaic Co. (The) COM 61945C103 3,374 73,260 SH   SOLE   73,260 0 0
NMFC NewMtnFinCorp COM 647551100 181 12,400 SH   SOLE   12,400 0 0
NYCB NYCmtyBancorp COM 649445103 187 11,200 SH   SOLE   11,200 0 0
Nat'l Oilwell Varco Inc COM 637071101 2,780 55,621 SH   SOLE   55,621 0 0
O Realty Income Corp COM 756109104 212 4,100 SH   SOLE   4,100 0 0
Occidental Petro Corp COM 674599105 1,244 17,047 SH   SOLE   17,047 0 0
PM Philip Morris Intl COM 718172109 203 2,700 SH   SOLE   2,700 0 0
PNNT PennantPark Inv COM 708062104 165 18,200 SH   SOLE   18,200 0 0
PSEC Prospect CapCorp COM 74348T102 132 15,600 SH   SOLE   15,600 0 0
Qualcomm Inc COM 747525103 1,840 26,535 SH   SOLE   26,535 0 0
Quest Diagnostics Inc COM 74834L100 2,008 26,135 SH   SOLE   26,135 0 0
Raytheon Company COM 755111507 2,959 27,082 SH   SOLE   27,082 0 0
Rock Creek Pharma Inc COM 772081105 24 240,000 SH   SOLE   240,000 0 0
Rock-Tenn Company COM 772739207 5,699 88,360 SH   SOLE   88,360 0 0
Schlumberger Ltd COM 806857108 2,990 35,840 SH   SOLE   35,840 0 0
TCRD THL Credit Inc COM 872438106 146 11,900 SH   SOLE   11,900 0 0
TE Teco Energy Inc COM 872375100 200 10,300 SH   SOLE   10,300 0 0
TEG Integrys EngyGr COM 45822P105 209 2,900 SH   SOLE   2,900 0 0
Target Corporation COM 87612E106 2,417 29,453 SH   SOLE   29,453 0 0
WPC WPCarey Inc REIT COM 92936U109 204 3,000 SH   SOLE   3,000 0 0
Wal-Mart Stores Inc COM 931142103 3,360 40,845 SH   SOLE   40,845 0 0
Western Union Co/The COM 959802109 10,287 494,316 SH   SOLE   494,316 0 0
BP Plc ADS ADR 055622104 5,039 128,840 SH   SOLE   128,840 0 0
Barclays Plc ADR ADR 06738E204 2,160 148,275 SH   SOLE   148,275 0 0
Ensco Plc ADS ADR G3157S106 3,741 177,554 SH   SOLE   177,554 0 0
Ericsson ADS ADR 294821608 1,393 110,997 SH   SOLE   110,997 0 0
Honda Motor Co Ltd. ADR 438128308 3,202 97,745 SH   SOLE   97,745 0 0
OB Onebeacon InsGrp ADR G67742109 173 11,400 SH   SOLE   11,400 0 0
Rio Tinto Plc ADR 767204100 2,739 66,155 SH   SOLE   66,155 0 0
Royal Dutch Shell A Plc ADR 780259206 2,267 38,002 SH   SOLE   38,002 0 0
SFL Ship Fin Intl Ltd ADR G81075106 152 10,300 SH   SOLE   10,300 0 0
Sanofi ADS ADR 80105N105 4,496 90,940 SH   SOLE   90,940 0 0
Teva Phrm Ind Ltd ADR ADR 881624209 3,610 57,945 SH   SOLE   57,945 0 0
XL Group Ltd. ADR G98290102 5,589 151,870 SH   SOLE   151,870 0 0
Alliance WW Priv Fd (AWPAX) MMF 01879X103 328 19,580 SH   SOLE   19,580 0 0
FTABX Fidelity Tax-Free Bond F MMF 316128503 512 43,557 SH   SOLE   43,557 0 0
MS India Invstmnt Fd (IIF) MMF 61745C105 309 11,100 SH   SOLE   11,100 0 0
NEA Nuveen AMT-Free Muni Inc Fd MMF 6706D8104 208 15,011 SH   SOLE   15,011 0 0
NIO Nuveen Insd Muni Opport Fd MMF 670984103 294 20,000 SH   SOLE   20,000 0 0
SBI Western Asset Interm Muni Fd MMF 958435109 480 47,800 SH   SOLE   47,800 0 0
Mrk Vectors Israel ETF (ISRA) ETF 57061R676 298 9,500 SH   SOLE   9,500 0 0
ProShares Ultra BB Crd Oil (UCO) ETF 74347W650 713 105,000 SH   SOLE   105,000 0 0
US Natural Gas Fd ETF (UNG) ETF 912318201 181 13,650 SH   SOLE   13,650 0 0