Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	HOSPITALITY PPTYS TR	1,255,723	$37.48M	13.8%	$29.85	$31.12	—	COM SH BEN INT	44106M102
—	VEREIT INC COMMON	3,188,120	$24.84M	9.1%	$7.79	$7.97	—	COM	92339V100
O	REALTY INCOME CORP	397,326	$22.66M	8.3%	$57.02 *	$27.24	+34.7%	COM	756109104
CSX	CSX CORP	329,953	$18.15M	6.7%	$55.01 *	$9.39	+69.1%	COM	126408103
NRG	NRG ENERGY INC	623,760	$17.77M	6.5%	$28.48 *	$19.84	+13.5%	COM NEW	629377508
USB	US BANCORP DEL	295,320	$15.82M	5.8%	$53.58 *	$29.16	+33.9%	COM NEW	902973304
—	GENERAL ELECTRIC CO	895,741	$15.63M	5.8%	$17.45	$27.77	—	COM	369604103
GBX	GREENBRIER COS INC	264,007	$14.07M	5.2%	$53.30 *	$41.66	-5.6%	COM	393657101
CAT	CATERPILLAR INC DEL	85,395	$13.46M	5.0%	$157.59 *	$72.87	+59.6%	COM	149123101
JPM	JPMORGAN CHASE & CO	93,922	$10.04M	3.7%	$106.94 *	$44.70	+81.9%	COM	46625H100
GATX	GATX CORP	158,723	$9.867M	3.6%	$62.16 *	$45.70	+11.8%	COM	361448103
R	RYDER SYS INC	104,865	$8.826M	3.2%	$84.17 *	$89.24	-8.5%	COM	783549108
—	LEXINGTON REALTY TRUST	698,300	$6.739M	2.5%	$9.65	$8.26	—	COM	529043101
COP	CONOCOPHILLIPS	106,641	$5.854M	2.2%	$54.89 *	$39.12	+1.4%	COM	20825C104
FCX	FREEPORT-MCMORAN INC	263,692	$5M	1.8%	$18.96 *	$17.69	-22.6%	CL B	35671D857
T	AT&T INC	115,049	$4.473M	1.6%	$38.88 *	$14.68	+3.9%	COM	00206R102
—	ROYAL DUTCH SHELL PLC	60,000	$4.097M	1.5%	$68.28	$57.37	—	SPON ADR B	780259107
—	GREAT PLAINS ENERGY INC	125,366	$4.042M	1.5%	$32.24	$28.36	—	COM	391164100
PG	PROCTER AND GAMBLE CO	37,508	$3.446M	1.3%	$91.87 *	$65.16	+11.5%	COM	742718109
NSC	NORFOLK SOUTHERN CORP	20,800	$3.014M	1.1%	$144.90 *	$85.81	+32.8%	COM	655844108
UNP	UNION PAC CORP	19,584	$2.627M	1.0%	$134.14 *	$89.46	+12.7%	COM	907818108
XOM	EXXON MOBIL CORP	31,136	$2.604M	1.0%	$83.63 *	$58.00	-1.5%	COM	30231G102
BAC	BANK AMER CORP	79,936	$2.359M	0.9%	$29.51 *	$13.44	+69.5%	COM	060505104
APLE	APPLE HOSPITALITY REIT INC	112,884	$2.214M	0.8%	$19.61	$18.91	—	COM NEW	03784Y200
—	ROYAL DUTCH SHELL PLC	31,500	$2.101M	0.8%	$66.70	$66.98	—	SPONS ADR A	780259206
DUK	DUKE ENERGY CORP NEW	19,040	$1.601M	0.6%	$84.09 *	$50.97	+22.9%	COM NEW	26441C204
RMR	RMR GROUP INC	20,414	$1.211M	0.4%	$59.32 *	$7.12	+323.3%	CL A	74967R106
JNJ	JOHNSON & JOHNSON	8,600	$1.201M	0.4%	$139.65 *	$77.70	+42.8%	COM	478160104
IP	INTL PAPER CO	20,549	$1.191M	0.4%	$57.96 *	$22.81	+64.8%	COM	460146103
SO	SOUTHERN CO	24,200	$1.164M	0.4%	$48.10 *	$29.49	+23.6%	COM	842587107
—	CALPINE CORP	67,303	$1.019M	0.4%	$15.14	$22.11	—	COM NEW	131347304
EPR	EPR PPTYS	15,120	$990K	0.4%	$65.48	$58.00	—	COM SH BEN INT	26884U109
ALL	ALLSTATE CORP	7,416	$776K	0.3%	$104.64 *	$51.61	+58.4%	COM	020002101
—	HANCOCK JOHN FINL OPPTYS FD	16,750	$659K	0.2%	$39.34	$23.70	—	SH BEN INT NEW	409735206
BMY	BRISTOL MYERS SQUIBB CO	6,640	$407K	0.1%	$61.30 *	$39.06	+18.9%	COM	110122108
LUV	SOUTHWEST AIRLS CO	6,217	$407K	0.1%	$65.47 *	$32.78	+62.0%	COM	844741108
—	DOWDUPONT INC	5,264	$375K	0.1%	$71.24	$69.15	—	COM	26078J100
CVX	CHEVRON CORP NEW	2,957	$370K	0.1%	$125.13 *	$70.45	+18.6%	COM	166764100
MS	MORGAN STANLEY	6,540	$343K	0.1%	$52.45 *	$22.85	+73.9%	COM NEW	617446448
DIS	DISNEY WALT CO	2,948	$317K	0.1%	$107.53 *	$101.26	-3.9%	COM DISNEY	254687106
WMT	WAL-MART STORES INC	3,170	$313K	0.1%	$98.74 *	$21.91	+22.4%	COM	931142103
—	DISCOVER FINL SVCS	3,739	$287K	0.1%	$76.76	$53.76	—	COM	254709108
VZ	VERIZON COMMUNICATIONS INC	5,324	$282K	0.1%	$52.97 *	$27.98	+14.2%	COM	92343V104
VFC	V F CORP	3,800	$281K	0.1%	$73.95 *	$65.70	+0.5%	COM	918204108
IWR	ISHARES TR	1,261	$262K	0.1%	$207.77	$179.58	—	RUS MID CAP ETF	464287499
BXP	BOSTON PROPERTIES INC	2,000	$260K	0.1%	$130.00 *	$79.21	+10.2%	COM	101121101
MFC	MANULIFE FINL CORP	11,520	$240K	0.1%	$20.83	$18.93	+9.8%	COM	56501R106
PEP	PEPSICO INC	1,890	$227K	0.1%	$120.11 *	$88.99	0.0%	COM	713448108
—	CORENERGY INFRASTRUCTURE TR	5,780	$221K	0.1%	$38.24	$35.29	—	COM NEW	21870U502