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
BOARDWALK PIPELINE PARTNERS LP UT LTD PARTNER MLP 096627104 805 46,900 SH   SOLE 0 46,900 0 0
JOHNSON & JOHNSON COM Stock 478160104 327 2,764 SH   SOLE 0 2,764 0 0
GCP APPLIED TECHNOLOGIES INC COM Stock 36164Y101 1,813 64,020 SH   SOLE 0 64,020 0 0
GOLDMAN SACHS GROUP INC COM Stock 38141G104 6,457 40,041 SH   SOLE 0 40,041 0 0
VIASAT INC COM Stock 92552V100 214 2,869 SH   SOLE 0 2,869 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM Stock 531229409 7,632 224,597 SH   SOLE 0 224,597 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM Stock 531229607 7,043 210,793 SH   SOLE 0 210,793 0 0
ENTERPRISE PRODS PARTNERS L P COM MLP 293792107 1,370 49,596 SH   SOLE 0 49,596 0 0
COMMERCEHUB INC COM SER A Stock 20084V108 358 22,641 SH   SOLE 0 22,641 0 0
COMMERCEHUB INC COM SER C Stock 20084V306 4,186 263,102 SH   SOLE 0 263,102 0 0
ILLINOIS TOOL WKS INC COM Stock 452308109 449 3,750 SH   SOLE 0 3,750 0 0
PEPSICO INC COM Stock 713448108 343 3,150 SH   SOLE 0 3,150 0 0
AUTOMATIC DATA PROCESSING INC COM Stock 053015103 351 3,984 SH   SOLE 0 3,984 0 0
COLONY CAP INC CL A REIT 19624R106 8,762 480,633 SH   SOLE 0 480,633 0 0
BECTON DICKINSON & CO COM Stock 075887109 225 1,250 SH   SOLE 0 1,250 0 0
NORTHSTAR RLTY FIN CORP COM REIT 66704R803 1,046 79,400 SH   SOLE 0 79,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW Stock 084670702 841 5,822 SH   SOLE 0 5,822 0 0
MICROSOFT Stock 594918104 1,478 25,665 SH   SOLE 0 25,665 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN MLP Y8565J101 94 14,900 SH   SOLE 0 14,900 0 0
ALERIAN MLP ETF ETF 00162Q866 7,680 605,200 SH   SOLE 0 605,200 0 0
HUNTSMAN CORP COM Stock 447011107 9,342 574,202 SH   SOLE 0 574,202 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN MLP 29273R109 4,563 123,320 SH   SOLE 0 123,320 0 0
HOWARD HUGHES CORP COM Stock 44267D107 8,179 71,428 SH   SOLE 0 71,428 0 0
KEARNY FINL CORP MD COM Stock 48716P108 9,803 720,253 SH   SOLE 0 720,253 0 0
AMERICAN INTL GROUP INC WT EXP 011921 Stock 026874156 9,392 443,015 SH   SOLE 0 443,015 0 0
MARATHON PETE CORP COM Stock 56585A102 3,098 76,326 SH   SOLE 0 76,326 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP MLP 559080106 208 2,940 SH   SOLE 0 2,940 0 0
ALLERGAN PLC SHS Stock G0177J108 3,754 16,298 SH   SOLE 0 16,298 0 0
OAKTREE CAP GROUP LLC UNIT CL A MLP 674001201 1,277 30,110 SH   SOLE 0 30,110 0 0
LIBERTY INTERACTIVE CORP LBT VENT COM A Stock 53071M880 12,439 311,980 SH   SOLE 0 311,980 0 0
MPLX LP COM UNIT REP LTD MLP 55336V100 685 20,239 SH   SOLE 0 20,239 0 0
KINDER MORGAN INC DEL COM Stock 49456B101 660 28,528 SH   SOLE 0 28,528 0 0
NUVEEN FLOATING RATE INCOME FD COM CEF 67072T108 254 23,000 SH   SOLE 0 23,000 0 0
PBF ENERGY INC CL A Stock 69318G106 4,105 181,329 SH   SOLE 0 181,329 0 0
BLACKSTONE GROUP L P COM UNIT LTD MLP 09253U108 1,240 48,580 SH   SOLE 0 48,580 0 0
COLONY CAP INC 5% 04/15/2023 Convertible 19624RAA4 8,887 8,950,000 SH   SOLE 0 8,950,000 0 0
CULLEN FROST BANKERS INC COM Stock 229899109 889 12,364 SH   SOLE 0 12,364 0 0
MCDONALDS CORP COM Stock 580135101 346 3,000 SH   SOLE 0 3,000 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW Stock 52729N308 2,779 59,920 SH   SOLE 0 59,920 0 0
NEW RESIDENTIAL INVT CORP COM NEW REIT 64828T201 5,372 388,985 SH   SOLE 0 388,985 0 0
AT&T INC COM Stock 00206R102 236 5,817 SH   SOLE 0 5,817 0 0
ISHARES U.S. PREFERRED STOCK ETF ETF 464288687 1,975 50,000 SH   SOLE 0 50,000 0 0
CHEVRON CORP NEW COM Stock 166764100 200 1,948 SH   SOLE 0 1,948 0 0
INTERNATIONAL BUSINESS MACHS COM Stock 459200101 397 2,502 SH   SOLE 0 2,502 0 0
CATERPILLAR INC DEL COM Stock 149123101 2,826 31,839 SH   SOLE 0 31,839 0 0
PBF LOGISTICS LP UNIT LTD PTNR MLP 69318Q104 482 24,300 SH   SOLE 0 24,300 0 0
WILLIAMS PARTNERS L P NEW COM UNIT LTD PAR MLP 96949L105 1,860 50,000 SH   SOLE 0 50,000 0 0
BENEFICIAL BANCORP INC COM Stock 08171T102 5,893 400,610 SH   SOLE 0 400,610 0 0
GRACE W R & CO DEL NEW COM Stock 38388F108 6,850 92,820 SH   SOLE 0 92,820 0 0
NORTHSTAR ASSET MGMT GROUP INC COM Stock 66705Y104 1,007 77,900 SH   SOLE 0 77,900 0 0
FIDELITY NATIONAL FINANCIAL IN FNF GROUP COM Stock 31620R303 6,523 176,730 SH   SOLE 0 176,730 0 0
DOW CHEM CO COM Stock 260543103 531 10,250 SH   SOLE 0 10,250 0 0
CITIGROUP INC COM NEW Stock 172967424 118 2,500 SH   SOLE 0 2,500 0 0
CITIGROUP INC COM NEW Stock 172967424 2,362 50,000 SH Call SOLE 0 50,000 0 0
EXXON MOBIL CORP COM Stock 30231G102 458 5,253 SH   SOLE 0 5,253 0 0
LOWES COS INC COM Stock 548661107 361 5,000 SH   SOLE 0 5,000 0 0