Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	HOSPITALITY PPTYS TR	1,265,916	$36.45M	16.6%	$28.79	$31.12	—	COM SH BEN INT	44106M102
O	REALTY INCOME CORP	397,079	$27.54M	12.6%	$69.36 *	$27.24	+41.7%	COM	756109104
CSX	CSX CORP	741,373	$19.33M	8.8%	$26.07 *	$9.39	-19.2%	COM	126408103
GATX	GATX CORP	301,615	$13.27M	6.0%	$43.99 *	$45.70	-19.3%	COM	361448103
USB	US BANCORP DEL	294,282	$11.86M	5.4%	$40.29 *	$29.15	+0.1%	COM NEW	902973304
—	VEREIT INC	1,154,749	$11.71M	5.3%	$10.14	$8.01	—	COM	92339V100
NRG	NRG ENERGY INC	638,260	$9.567M	4.4%	$14.99 *	$19.84	-38.9%	COM NEW	629377508
GBX	GREENBRIER COS INC	273,277	$7.958M	3.6%	$29.12 *	$41.66	-47.6%	COM	393657101
CAT	CATERPILLAR INC DEL	91,225	$6.913M	3.2%	$75.78 *	$72.87	-17.9%	COM	149123101
—	LEXINGTON REALTY TRUST	663,600	$6.712M	3.1%	$10.11	$8.19	—	COM	529043101
—	GENERAL ELECTRIC CO	212,292	$6.674M	3.0%	$31.44	$25.24	—	COM	369604103
R	RYDER SYS INC	105,306	$6.428M	2.9%	$61.04 *	$89.24	-25.8%	COM	783549108
—	EMPIRE DIST ELEC CO	184,081	$6.264M	2.9%	$34.03	$29.74	—	COM	291641108
JPM	JPMORGAN CHASE & CO	96,149	$5.972M	2.7%	$62.11 *	$44.70	+8.1%	COM	46625H100
COP	CONOCOPHILLIPS	107,815	$4.7M	2.1%	$43.59 *	$39.12	-16.2%	COM	20825C104
—	GREAT PLAINS ENERGY INC	128,488	$3.896M	1.8%	$30.32	$28.36	—	COM	391164100
—	ROYAL DUTCH SHELL PLC	60,000	$3.359M	1.5%	$55.98	$57.37	—	SPON ADR B	780259107
XOM	EXXON MOBIL CORP	33,043	$3.096M	1.4%	$93.70 *	$58.00	-0.3%	COM	30231G102
PG	PROCTER & GAMBLE CO	35,604	$3.009M	1.4%	$84.51 *	$64.60	-2.0%	COM	742718109
FCX	FREEPORT-MCMORAN INC	263,942	$2.934M	1.3%	$11.12 *	$17.69	-43.2%	CL B	35671D857
NSC	NORFOLK SOUTHERN CORP	24,900	$2.12M	1.0%	$85.14 *	$85.81	-18.7%	COM	655844108
UNP	UNION PAC CORP	22,932	$2.002M	0.9%	$87.30 *	$89.46	-23.7%	COM	907818108
—	ROYAL DUTCH SHELL PLC	33,550	$1.853M	0.8%	$55.23	$66.98	—	SPONS ADR A	780259206
DUK	DUKE ENERGY CORP NEW	18,916	$1.621M	0.7%	$85.69 *	$50.97	+5.6%	COM NEW	26441C204
T	AT&T INC	35,309	$1.525M	0.7%	$43.19 *	$11.87	+27.3%	COM	00206R102
SO	SOUTHERN CO	24,200	$1.3M	0.6%	$53.72 *	$29.49	+14.0%	COM	842587107
EPR	EPR PPTYS	15,120	$1.224M	0.6%	$80.95	$58.00	—	COM SH BEN INT	26884U109
JNJ	JOHNSON & JOHNSON	9,475	$1.15M	0.5%	$121.37 *	$77.30	+12.6%	COM	478160104
BAC	BANK AMER CORP	81,485	$1.082M	0.5%	$13.28 *	$13.44	-15.7%	COM	060505104
—	CALPINE CORP	67,303	$996K	0.5%	$14.80	$22.11	—	COM NEW	131347304
—	REYNOLDS AMERICAN INC	16,854	$910K	0.4%	$53.99	$54.81	—	COM	761713106
IP	INTL PAPER CO	20,530	$870K	0.4%	$42.38 *	$22.81	+15.3%	COM	460146103
RMR	RMR GROUP INC	21,000	$641K	0.3%	$30.52 *	$7.12	+100.8%	CL A	74967R106
ALL	ALLSTATE CORP	8,565	$598K	0.3%	$69.82 *	$51.61	+4.8%	COM	020002101
CVX	CHEVRON CORP NEW	4,975	$523K	0.2%	$105.13 *	$70.48	-5.3%	COM	166764100
BMY	BRISTOL MYERS SQUIBB CO	6,440	$475K	0.2%	$73.76 *	$38.91	+29.8%	COM	110122108
—	HANCOCK JOHN FINL OPPTYS FD	17,900	$462K	0.2%	$25.81	$23.70	—	SH BEN INT NEW	409735206
VZ	VERIZON COMMUNICATIONS INC	5,172	$291K	0.1%	$56.26 *	$27.59	+14.1%	COM	92343V104
WMT	WAL-MART STORES INC	3,658	$265K	0.1%	$72.44 *	$21.91	-10.9%	COM	931142103
BXP	BOSTON PROPERTIES INC	2,000	$264K	0.1%	$132.00 *	$79.21	+9.0%	COM	101121101
—	DU PONT E I DE NEMOURS & CO	4,035	$261K	0.1%	$64.68	$66.67	—	COM	263534109
DIS	DISNEY WALT CO	2,544	$249K	0.1%	$97.88 *	$82.03	+12.4%	COM DISNEY	254687106
LUV	SOUTHWEST AIRLS CO	5,967	$234K	0.1%	$39.22 *	$32.73	+16.5%	COM	844741108
VFC	V F CORP	3,600	$221K	0.1%	$61.39 *	$66.14	-10.6%	COM	918204108
—	DISCOVER FINL SVCS	3,739	$201K	0.1%	$53.76	$53.76	—	COM	254709108
PSX	PHILLIPS 66	2,515	$200K	0.1%	$79.52 *	$59.08	-4.0%	COM	718546104
MFC	MANULIFE FINL CORP	11,519	$157K	0.1%	$13.63 *	$18.93	-24.7%	COM	56501R106