Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	HOSPITALITY PPTYS TR	1,255,573	$31.82M	12.6%	$25.34	$31.12	—	COM SH BEN INT	44106M102
—	VEREIT INC	3,190,620	$22.21M	8.8%	$6.96	$7.97	—	COM	92339V100
O	REALTY INCOME CORP	398,012	$20.59M	8.2%	$51.73 *	$27.24	+25.3%	COM	756109104
NRG	NRG ENERGY INC	623,760	$19.04M	7.5%	$30.53 *	$19.84	+15.7%	COM NEW	629377508
CSX	CSX CORP	329,953	$18.38M	7.3%	$55.71 *	$9.39	+79.1%	COM	126408103
USB	US BANCORP DEL	295,320	$14.91M	5.9%	$50.50 *	$29.16	+36.9%	COM NEW	902973304
GBX	GREENBRIER COS INC	264,007	$13.27M	5.3%	$50.25 *	$41.66	-3.8%	COM	393657101
CAT	CATERPILLAR INC DEL	85,350	$12.58M	5.0%	$147.38 *	$72.87	+82.6%	COM	149123101
—	GENERAL ELECTRIC CO	894,491	$12.06M	4.8%	$13.48	$27.77	—	COM	369604103
GATX	GATX CORP	158,723	$10.87M	4.3%	$68.49 *	$45.70	+26.8%	COM	361448103
JPM	JPMORGAN CHASE & CO	93,869	$10.32M	4.1%	$109.96 *	$44.70	+104.5%	COM	46625H100
R	RYDER SYS INC	104,865	$7.633M	3.0%	$72.79 *	$89.24	-9.7%	COM	783549108
COP	CONOCOPHILLIPS	106,641	$6.323M	2.5%	$59.29 *	$39.12	+11.8%	COM	20825C104
—	LEXINGTON REALTY TRUST	698,300	$5.496M	2.2%	$7.87	$8.26	—	COM	529043101
FCX	FREEPORT-MCMORAN INC	263,692	$4.633M	1.8%	$17.57 *	$17.69	-3.8%	CL B	35671D857
T	AT&T INC	115,049	$4.101M	1.6%	$35.65 *	$14.68	+7.7%	COM	00206R102
—	GREAT PLAINS ENERGY INC	125,366	$3.985M	1.6%	$31.79	$28.36	—	COM	391164100
—	ROYAL DUTCH SHELL PLC	60,000	$3.932M	1.6%	$65.53	$57.37	—	SPON ADR B	780259107
PG	PROCTER AND GAMBLE CO	37,638	$2.984M	1.2%	$79.28 *	$65.16	+4.2%	COM	742718109
NSC	NORFOLK SOUTHERN CORP	20,800	$2.824M	1.1%	$135.77 *	$85.81	+43.0%	COM	655844108
UNP	UNION PAC CORP	19,584	$2.633M	1.0%	$134.45 *	$89.46	+26.4%	COM	907818108
XOM	EXXON MOBIL CORP	31,136	$2.323M	0.9%	$74.61 *	$58.00	-3.9%	COM	30231G102
BAC	BANK AMER CORP	76,936	$2.307M	0.9%	$29.99 *	$13.44	+93.9%	COM	060505104
APLE	APPLE HOSPITALITY REIT INC	124,384	$2.186M	0.9%	$17.57	$18.79	—	COM NEW	03784Y200
—	ROYAL DUTCH SHELL PLC	31,500	$2.01M	0.8%	$63.81	$66.98	—	SPONS ADR A	780259206
DUK	DUKE ENERGY CORP NEW	19,040	$1.475M	0.6%	$77.47 *	$50.97	+10.0%	COM NEW	26441C204
RMR	RMR GROUP INC	20,414	$1.428M	0.6%	$69.95 *	$7.12	+386.2%	CL A	74967R106
JNJ	JOHNSON & JOHNSON	8,600	$1.102M	0.4%	$128.14 *	$77.70	+39.5%	COM	478160104
IP	INTL PAPER CO	20,549	$1.098M	0.4%	$53.43 *	$22.81	+71.9%	COM	460146103
SO	SOUTHERN CO	24,200	$1.081M	0.4%	$44.67 *	$29.49	+9.0%	COM	842587107
EPR	EPR PPTYS	15,120	$838K	0.3%	$55.42	$58.00	—	COM SH BEN INT	26884U109
ALL	ALLSTATE CORP	7,416	$704K	0.3%	$94.93 *	$51.61	+56.4%	COM	020002101
—	HANCOCK JOHN FINL OPPTYS FD	16,750	$642K	0.3%	$38.33	$23.70	—	SH BEN INT NEW	409735206
BMY	BRISTOL MYERS SQUIBB CO	6,640	$420K	0.2%	$63.25 *	$39.06	+23.1%	COM	110122108
LUV	SOUTHWEST AIRLS CO	6,217	$356K	0.1%	$57.26 *	$32.78	+65.8%	COM	844741108
MS	MORGAN STANLEY	6,540	$353K	0.1%	$53.98 *	$22.85	+91.2%	COM NEW	617446448
—	DOWDUPONT INC	5,264	$335K	0.1%	$63.64	$69.15	—	COM	26078J100
CVX	CHEVRON CORP NEW	2,877	$328K	0.1%	$114.01 *	$70.45	+20.7%	COM	166764100
WMT	WALMART INC	3,520	$313K	0.1%	$88.92 *	$22.55	+25.7%	COM	931142103
DIS	DISNEY WALT CO	3,048	$307K	0.1%	$100.72	$101.25	-0.3%	COM DISNEY	254687106
VFC	V F CORP	3,800	$282K	0.1%	$74.21 *	$65.70	+10.1%	COM	918204108
—	DISCOVER FINL SVCS	3,739	$269K	0.1%	$71.94	$53.76	—	COM	254709108
IWR	ISHARES TR	1,261	$260K	0.1%	$206.19	$179.58	—	RUS MID CAP ETF	464287499
VZ	VERIZON COMMUNICATIONS INC	5,324	$254K	0.1%	$47.71 *	$27.98	+18.0%	COM	92343V104
BXP	BOSTON PROPERTIES INC	2,000	$246K	0.1%	$123.00 *	$79.21	+7.5%	COM	101121101
—	CORENERGY INFRASTRUCTURE TR	5,780	$217K	0.1%	$37.54	$35.29	—	COM NEW	21870U502
MFC	MANULIFE FINL CORP	11,520	$214K	0.1%	$18.58 *	$18.93	+5.7%	COM	56501R106
MSFT	MICROSOFT CORP	2,317	$211K	0.1%	$91.07 *	$84.31	0.0%	COM	594918104
PEP	PEPSICO INC	1,890	$207K	0.1%	$109.52 *	$88.99	+0.3%	COM	713448108
—	ANADARKO PETE CORP	3,360	$203K	0.1%	$60.42	$60.42	—	COM	032511107