Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	HOSPITALITY PPTYS TR	1,265,961	$33.1M	17.1%	$26.14	$31.12	—	COM SH BEN INT	44106M102
O	REALTY INCOME CORP	387,369	$20M	10.3%	$51.64 *	$26.96	+10.4%	COM	756109104
CSX	CSX CORP	722,973	$18.77M	9.7%	$25.96 *	$9.43	-17.4%	COM	126408103
GATX	GATX CORP	301,615	$12.85M	6.6%	$42.59 *	$45.70	-22.1%	COM	361448103
USB	US BANCORP DEL	294,347	$12.56M	6.5%	$42.68 *	$29.15	+1.5%	COM NEW	902973304
GBX	GREENBRIER COS INC	273,640	$8.929M	4.6%	$32.63 *	$41.66	-38.6%	COM	393657101
—	VEREIT INC	999,447	$7.916M	4.1%	$7.92	$7.72	—	COM	92339V100
NRG	NRG ENERGY INC	638,260	$7.52M	3.9%	$11.78 *	$19.84	-48.9%	COM NEW	629377508
—	GENERAL ELECTRIC CO	212,362	$6.609M	3.4%	$31.12	$25.24	—	COM	369604103
JPM	JPMORGAN CHASE & CO	96,149	$6.346M	3.3%	$66.00 *	$44.70	+11.1%	COM	46625H100
CAT	CATERPILLAR INC DEL	92,635	$6.297M	3.2%	$67.98 *	$72.87	-25.1%	COM	149123101
R	RYDER SYS INC	105,306	$5.985M	3.1%	$56.83 *	$89.24	-26.0%	COM	783549108
—	EMPIRE DIST ELEC CO	184,081	$5.162M	2.7%	$28.04	$29.74	—	COM	291641108
COP	CONOCOPHILLIPS	109,700	$5.123M	2.6%	$46.70 *	$39.12	-1.9%	COM	20825C104
—	LEXINGTON REALTY TRUST	450,000	$3.6M	1.9%	$8.00	$8.00	—	COM	529043101
—	GREAT PLAINS ENERGY INC	131,270	$3.58M	1.8%	$27.27	$28.36	—	COM	391164100
PG	PROCTER & GAMBLE CO	35,934	$2.859M	1.5%	$79.56 *	$64.60	-10.3%	COM	742718109
—	ROYAL DUTCH SHELL PLC	60,000	$2.761M	1.4%	$46.02	$57.37	—	SPON ADR B	780259107
XOM	EXXON MOBIL CORP	33,043	$2.575M	1.3%	$77.93 *	$58.00	-11.4%	COM	30231G102
NSC	NORFOLK SOUTHERN CORP	24,900	$2.106M	1.1%	$84.58 *	$85.81	-19.4%	COM	655844108
UNP	UNION PAC CORP	22,932	$1.793M	0.9%	$78.19 *	$89.46	-23.7%	COM	907818108
FCX	FREEPORT-MCMORAN INC	263,942	$1.792M	0.9%	$6.79 *	$17.69	-51.2%	CL B	35671D857
—	ROYAL DUTCH SHELL PLC	37,550	$1.723M	0.9%	$45.89	$66.98	—	SPONS ADR A	780259206
BAC	BANK AMER CORP	95,925	$1.614M	0.8%	$16.83 *	$13.44	+0.9%	COM	060505104
DUK	DUKE ENERGY CORP NEW	18,916	$1.352M	0.7%	$71.47 *	$50.97	-9.0%	COM NEW	26441C204
T	AT&T INC	36,909	$1.268M	0.7%	$34.35 *	$11.87	+4.8%	COM	00206R102
SO	SOUTHERN CO	24,200	$1.133M	0.6%	$46.82 *	$29.49	+0.5%	COM	842587107
—	CALPINE CORP	67,303	$974K	0.5%	$14.47	$22.11	—	COM NEW	131347304
JNJ	JOHNSON & JOHNSON	9,475	$971K	0.5%	$102.48 *	$77.30	-1.8%	COM	478160104
EPR	EPR PPTYS	15,120	$885K	0.5%	$58.53	$58.00	—	COM SH BEN INT	26884U109
—	REYNOLDS AMERICAN INC	16,854	$778K	0.4%	$46.16	$54.81	—	COM	761713106
ALL	ALLSTATE CORP	8,915	$551K	0.3%	$61.81 *	$51.61	-3.6%	COM	020002101
BMY	BRISTOL MYERS SQUIBB CO	8,020	$550K	0.3%	$68.58 *	$38.91	+20.0%	COM	110122108
—	HANCOCK JOHN FINL OPPTYS FD	17,900	$504K	0.3%	$28.16	$23.70	—	SH BEN INT NEW	409735206
CVX	CHEVRON CORP NEW	5,120	$461K	0.2%	$90.04 *	$70.48	-17.1%	COM	166764100
—	DU PONT E I DE NEMOURS & CO	4,035	$269K	0.1%	$66.67	$66.67	—	COM	263534109
DIS	DISNEY WALT CO	2,464	$258K	0.1%	$104.71 *	$81.70	+25.1%	COM DISNEY	254687106
RMR	RMR GROUP INC	21,020	$258K	0.1%	$12.27 *	$7.12	0.0%	CL A	74967R106
LUV	SOUTHWEST AIRLS CO	5,967	$257K	0.1%	$43.07 *	$32.73	+20.2%	COM	844741108
BXP	BOSTON PROPERTIES INC	2,000	$255K	0.1%	$127.50 *	$79.21	+3.7%	COM	101121101
WMT	WAL-MART STORES INC	3,863	$239K	0.1%	$61.87 *	$21.91	-24.1%	COM	931142103
VZ	VERIZON COMMUNICATIONS INC	5,172	$238K	0.1%	$46.02 *	$27.59	-2.4%	COM	92343V104
VFC	V F CORP	3,600	$224K	0.1%	$62.22	$66.14	-5.6%	COM	918204108
KEY	KEYCORP NEW	16,000	$212K	0.1%	$13.25 *	$8.62	+0.6%	COM	493267108
PSX	PHILLIPS 66	2,544	$207K	0.1%	$81.37 *	$59.08	0.0%	COM	718546104
—	DISCOVER FINL SVCS	3,739	$201K	0.1%	$53.76	$53.76	—	COM	254709108
MFC	MANULIFE FINL CORP	11,519	$172K	0.1%	$14.93 *	$18.93	-14.8%	COM	56501R106