Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	HOSPITALITY PPTYS TR	1,269,327	$37.72M	16.8%	$29.72	$31.12	—	COM SH BEN INT	44106M102
O	REALTY INCOME CORP	398,289	$26.66M	11.8%	$66.93 *	$27.24	+55.6%	COM	756109104
CSX	CSX CORP	741,753	$22.62M	10.0%	$30.50 *	$9.39	-11.7%	COM	126408103
GATX	GATX CORP	301,615	$13.44M	6.0%	$44.55 *	$45.70	-21.7%	COM	361448103
USB	US BANCORP DEL	300,029	$12.87M	5.7%	$42.89 *	$29.16	+2.8%	COM NEW	902973304
—	VEREIT INC	1,154,749	$11.97M	5.3%	$10.37	$8.01	—	COM	92339V100
GBX	GREENBRIER COS INC	273,274	$9.647M	4.3%	$35.30 *	$41.66	-40.0%	COM	393657101
CAT	CATERPILLAR INC DEL	88,341	$7.842M	3.5%	$88.77 *	$72.87	-9.4%	COM	149123101
NRG	NRG ENERGY INC	638,260	$7.155M	3.2%	$11.21 *	$19.84	-46.1%	COM NEW	629377508
R	RYDER SYS INC	105,465	$6.955M	3.1%	$65.95	$89.24	-26.6%	COM	783549108
—	LEXINGTON REALTY TRUST	663,600	$6.835M	3.0%	$10.30	$8.19	—	COM	529043101
JPM	JPMORGAN CHASE & CO	95,065	$6.33M	2.8%	$66.59 *	$44.70	+13.8%	COM	46625H100
—	GENERAL ELECTRIC CO	212,692	$6.3M	2.8%	$29.62	$25.24	—	COM	369604103
—	EMPIRE DIST ELEC CO	183,867	$6.277M	2.8%	$34.14	$29.74	—	COM	291641108
COP	CONOCOPHILLIPS	107,715	$4.683M	2.1%	$43.48 *	$39.12	-20.4%	COM	20825C104
—	GREAT PLAINS ENERGY INC	128,487	$3.506M	1.6%	$27.29	$28.36	—	COM	391164100
PG	PROCTER AND GAMBLE CO	35,809	$3.214M	1.4%	$89.75 *	$64.60	+4.5%	COM	742718109
—	ROYAL DUTCH SHELL PLC	60,000	$3.17M	1.4%	$52.83	$57.37	—	SPON ADR B	780259107
XOM	EXXON MOBIL CORP	33,043	$2.884M	1.3%	$87.28 *	$58.00	+0.9%	COM	30231G102
FCX	FREEPORT-MCMORAN INC	263,692	$2.864M	1.3%	$10.86 *	$17.69	-41.0%	CL B	35671D857
NSC	NORFOLK SOUTHERN CORP	24,900	$2.417M	1.1%	$97.07 *	$85.81	-12.4%	COM	655844108
UNP	UNION PAC CORP	22,932	$2.237M	1.0%	$97.55 *	$89.46	-15.1%	COM	907818108
—	ROYAL DUTCH SHELL PLC	33,550	$1.68M	0.7%	$50.07	$66.98	—	SPONS ADR A	780259206
DUK	DUKE ENERGY CORP NEW	19,040	$1.524M	0.7%	$80.04 *	$50.97	+10.6%	COM NEW	26441C204
T	AT&T INC	32,609	$1.325M	0.6%	$40.63 *	$11.87	+37.3%	COM	00206R102
BAC	BANK AMER CORP	81,486	$1.275M	0.6%	$15.65 *	$13.44	-10.2%	COM	060505104
SO	SOUTHERN CO	24,200	$1.241M	0.6%	$51.28 *	$29.49	+20.7%	COM	842587107
EPR	EPR PPTYS	15,120	$1.191M	0.5%	$78.77	$58.00	—	COM SH BEN INT	26884U109
JNJ	JOHNSON & JOHNSON	9,715	$1.147M	0.5%	$118.06 *	$77.70	+20.4%	COM	478160104
IP	INTL PAPER CO	20,630	$990K	0.4%	$47.99 *	$22.81	+29.4%	COM	460146103
—	CALPINE CORP	67,303	$851K	0.4%	$12.64	$22.11	—	COM NEW	131347304
RMR	RMR GROUP INC	20,974	$796K	0.4%	$37.95 *	$7.12	+166.8%	CL A	74967R106
—	REYNOLDS AMERICAN INC	16,854	$794K	0.4%	$47.11	$54.81	—	COM	761713106
ALL	ALLSTATE CORP	8,565	$593K	0.3%	$69.24 *	$51.61	+8.3%	COM	020002101
CVX	CHEVRON CORP NEW	5,055	$521K	0.2%	$103.07 *	$70.45	-2.8%	COM	166764100
—	HANCOCK JOHN FINL OPPTYS FD	17,900	$497K	0.2%	$27.77	$23.70	—	SH BEN INT NEW	409735206
BMY	BRISTOL MYERS SQUIBB CO	6,555	$353K	0.2%	$53.85 *	$39.04	+18.2%	COM	110122108
VZ	VERIZON COMMUNICATIONS INC	5,437	$282K	0.1%	$51.87 *	$27.85	+18.1%	COM	92343V104
BXP	BOSTON PROPERTIES INC	2,000	$273K	0.1%	$136.50 *	$79.21	+18.5%	COM	101121101
WMT	WAL-MART STORES INC	3,658	$263K	0.1%	$71.90 *	$21.91	-6.0%	COM	931142103
—	DU PONT E I DE NEMOURS & CO	3,835	$257K	0.1%	$67.01	$66.67	—	COM	263534109
DIS	DISNEY WALT CO	2,644	$246K	0.1%	$93.04 *	$82.29	+8.0%	COM DISNEY	254687106
LUV	SOUTHWEST AIRLS CO	6,217	$242K	0.1%	$38.93 *	$32.78	+3.7%	COM	844741108
—	ANADARKO PETE CORP	3,360	$213K	0.1%	$63.39	$63.39	—	COM	032511107
VFC	V F CORP	3,800	$213K	0.1%	$56.05 *	$65.70	-12.1%	COM	918204108
—	DISCOVER FINL SVCS	3,739	$211K	0.1%	$56.43	$53.76	—	COM	254709108
MS	MORGAN STANLEY	6,540	$210K	0.1%	$32.11 *	$22.85	0.0%	COM NEW	617446448
PSX	PHILLIPS 66	2,515	$203K	0.1%	$80.72 *	$59.08	-7.9%	COM	718546104
MFC	MANULIFE FINL CORP	11,520	$163K	0.1%	$14.15 *	$18.93	-28.1%	COM	56501R106