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            <AddressLine1Txt>214 MASSACHUSETTS AVE NE</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20002</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NICKLAUS CHILDREN'S HOSP FOUNDATIO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>3100 SW 62ND AVE</AddressLine1Txt>
            <CityNm>MIAMI</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33155</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NOBLE ACADEMY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>3310 HORSE PEN CREEK RD</AddressLine1Txt>
            <CityNm>GREENSBORO</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27410</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PAGE ALUMNI AND FRIENDS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>201 ALMA PINNIX DRIVE</AddressLine1Txt>
            <CityNm>GREENSBORO</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27405</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PALM BEACH COUNTY FOOD BANK</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>701 BOUTWELL ROAD</AddressLine1Txt>
            <AddressLine2Txt>SUITES A-2</AddressLine2Txt>
            <CityNm>LAKE WORTH</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>33461</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PIEDMONT TRIAD CHARITABLE FOUNDATIO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>416 GALLIMORE DAIRY ROAD</AddressLine1Txt>
            <AddressLine2Txt>SUITE M</AddressLine2Txt>
            <CityNm>GREENSBORO</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27409</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>45000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>RONALD MCDONALD HOUSE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>101 OLD MASON FARM ROAD</AddressLine1Txt>
            <CityNm>CHAPEL HILL</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27517</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>RONALD MCDONALD HOUSE OF THE TRIAD</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>419 S HAWTHORNE RD</AddressLine1Txt>
            <CityNm>WINSTON SALEM</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>STEP UP GREENSBORO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>607 N ELM STREET</AddressLine1Txt>
            <CityNm>GREENSBORO</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27401</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>THE GREENSBORO POLICE FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>300 WEST WASHINGTON STREE</AddressLine1Txt>
            <CityNm>GREENSBORO</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27401</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>UNC ALUMNI FREE SPEECH ALLIANCE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 8</AddressLine1Txt>
            <CityNm>CHAPEL HILL</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27514</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>THE UNIVERSITY OF NC CHAPEL HILL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 309</AddressLine1Txt>
            <CityNm>CHAPEL HILL</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27514</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>VIRGINIA EPISCOPAL SCHOOL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>400 V E S ROAD</AddressLine1Txt>
            <CityNm>LYNCHBURG</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>24503</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WALKING FOR KIDS FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 3703</AddressLine1Txt>
            <CityNm>MERIDIAN</CityNm>
            <StateAbbreviationCd>MS</StateAbbreviationCd>
            <ZIPCd>39303</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNRESTRICTED</GrantOrContributionPurposeTxt>
          <Amt>18000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>649000</TotalGrantOrContriPdDurYrAmt>
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        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
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          <ExclusionCd>14</ExclusionCd>
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          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>53381</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>RBC CASH IN LIEU</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>73</ExclusionAmt>
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        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>376876</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>376876</TotalIncomeProducingActyAmt>
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      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
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      <InvestmentsCorporateBondsGrp>
        <BondNm>20,000 DUKE ENERGY 5.625% DEB</BondNm>
        <EOYBookValueAmt>500000</EOYBookValueAmt>
        <EOYFMVAmt>487600</EOYFMVAmt>
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      <InvestmentsCorporateBondsGrp>
        <BondNm>3,000 NEXTERA ENERGY SUB DEB 5.65%</BondNm>
        <EOYBookValueAmt>75000</EOYBookValueAmt>
        <EOYFMVAmt>73080</EOYFMVAmt>
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      <InvestmentsCorporateBondsGrp>
        <BondNm>4,000 QVC 6.25%</BondNm>
        <EOYBookValueAmt>100000</EOYBookValueAmt>
        <EOYFMVAmt>41880</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>6,000 FORD MOTOR 6.00%</BondNm>
        <EOYBookValueAmt>150000</EOYBookValueAmt>
        <EOYFMVAmt>132360</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc3">
      <InvestmentsCorporateStockGrp>
        <StockNm>10,129.1556 SHARES LIBERTY ALLSTARS</StockNm>
        <EOYBookValueAmt>84078</EOYBookValueAmt>
        <EOYFMVAmt>63915</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>50,000 CLEARBRIDGE ENERGY MLP FD</StockNm>
        <EOYBookValueAmt>507021</EOYBookValueAmt>
        <EOYFMVAmt>473480</EOYFMVAmt>
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      <InvestmentsCorporateStockGrp>
        <StockNm>500 BANK OF AMERICA 7.25% NON CUM PF</StockNm>
        <EOYBookValueAmt>440131</EOYBookValueAmt>
        <EOYFMVAmt>630500</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>60,000 FIRST TRUST INTERMEDIATE</StockNm>
        <EOYBookValueAmt>1150854</EOYBookValueAmt>
        <EOYFMVAmt>1143600</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>10,000 B OF A 6.0% DEP SHS</StockNm>
        <EOYBookValueAmt>250000</EOYBookValueAmt>
        <EOYFMVAmt>253700</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>12,000 CMS ENERGY CORP</StockNm>
        <EOYBookValueAmt>300000</EOYBookValueAmt>
        <EOYFMVAmt>276720</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>10,000 CHIMERA INVESTMENT</StockNm>
        <EOYBookValueAmt>230000</EOYBookValueAmt>
        <EOYFMVAmt>240900</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>10,000 JP MORGAN CHASE</StockNm>
        <EOYBookValueAmt>250000</EOYBookValueAmt>
        <EOYFMVAmt>257100</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>10,000 AT&amp;T</StockNm>
        <EOYBookValueAmt>219143</EOYBookValueAmt>
        <EOYFMVAmt>213500</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>5,000 PENNYMAC MTG INVT TR</StockNm>
        <EOYBookValueAmt>125000</EOYBookValueAmt>
        <EOYFMVAmt>94350</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>5,000 ALTRIA GROUP INC</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>2,542 EATON VANCE TAX ADV</StockNm>
        <EOYBookValueAmt>84915</EOYBookValueAmt>
        <EOYFMVAmt>72091</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>25000 READY CAPITAL</StockNm>
        <EOYBookValueAmt>214852</EOYBookValueAmt>
        <EOYFMVAmt>73250</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc4">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CORISTA LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>71135</BookValueAmt>
        <EOYFMVAmt>700000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EUCLID DISCOVERIES LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>265714</BookValueAmt>
        <EOYFMVAmt>600000</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc5">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL EXPENSE</CategoryTxt>
        <LegalFeesAmt>4924</LegalFeesAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc6">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MARGIN INTEREST</Desc>
        <RevenueAndExpensesPerBooksAmt>404</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LOSS PASSTHRU FORM PARTNERSHI</Desc>
        <RevenueAndExpensesPerBooksAmt>42673</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK SERVICE CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>191</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc7">
      <OtherIncomeDetail>
        <Desc>RBC CASH IN LIEU</Desc>
        <RevenueAndExpensesPerBooksAmt>73</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>73</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc8">
      <OtherLiabilitiesDetail>
        <Desc>MARGIN ACCOUNT</Desc>
        <EOYBookValueAmt>49260</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="RetDoc9">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES PAID</CategoryTxt>
        <Amt>1331</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>