Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EPD	Enterprise Prods Partners LP	2,593,073	$203M	7.0%	$65.86	—	ml	293792107
PAA	Plains All American Pipeline L	3,291,501	$198M	6.9%	$55.70	—	ml	726503105
—	Enlink Midstream LLC Unit Rep	4,516,022	$188M	6.5%	$34.61	—	ml	29336t100
WMB	Williams Cos Inc	2,907,270	$169M	5.9%	$19.15	+26.3%	cs	969457100
—	Targa Resources Corp	1,192,072	$166M	5.8%	$71.60	—	cs	87612g101
—	Energy Transfer Equity LP	2,620,256	$154M	5.4%	$53.78	—	ml	29273v100
—	Oiltanking Partners LP	1,604,106	$151M	5.3%	$53.42	—	ml	678049107
—	Buckeye Partners LP	1,780,465	$148M	5.1%	$72.63	—	ml	118230101
GEL	Genesis Energy LP	2,607,254	$146M	5.1%	$52.92	—	ml	371927104
—	Western Gas Equity Partners LP	2,244,064	$141M	4.9%	$41.42	—	ml	95825r103
—	Magellan Midstream Partners LP	1,538,322	$129M	4.5%	$59.61	—	ml	559080106
—	Phillips 66 Partners LP Rep In	1,340,035	$101M	3.5%	$31.33	—	ml	718549207
—	Sunoco Logistics Partners LP	2,131,423	$100M	3.5%	$57.42	—	ml	86764l108
—	Access Midstream Partners LP	1,547,791	$98.36M	3.4%	$57.02	—	ml	00434l109
—	Tesoro Logistics LP	1,218,990	$89.47M	3.1%	$61.99	—	ml	88160t107
—	Equity Midstream Partners LP	837,208	$80.99M	2.8%	$94.01	—	ml	26885b100
—	Western Gas Partners LP	1,033,573	$79.05M	2.7%	$65.74	—	ml	958254104
—	Targa Resources Partners LP	1,073,405	$77.2M	2.7%	$52.86	—	ml	87611x105
—	MPLX LP	1,007,795	$65M	2.3%	$42.04	—	ml	55336v100
—	Valero Energy Partners LP Unt	1,189,290	$59.83M	2.1%	$36.41	—	ml	91914j102
—	QEP Midstream Partners LP	2,235,759	$57.57M	2.0%	$23.04	—	ml	74735r115
—	Plains Group Hlgs LP A	1,701,750	$54.44M	1.9%	$27.79	—	ml	72651a108
—	Williams Partners LP	745,429	$40.47M	1.4%	$51.96	—	ml	96950f104
—	Enlink Midstream Partners LP	1,007,922	$31.68M	1.1%	$30.59	—	ml	29336u107
AAPL	Apple Inc	147,425	$13.7M	0.5%	$17.88	+4.4%	cs	037833100
—	Exxon Mobil Corp	90,126	$9.074M	0.3%	$90.30	—	cs	30231g102
—	MarkWest Energy Partners LP	105,133	$7.525M	0.3%	$67.21	—	ml	570759100
JNJ	Johnson & Johnson	71,444	$7.474M	0.3%	$60.22	+21.5%	cs	478160104
—	Dow Chemical Co	121,433	$6.249M	0.2%	$32.29	—	cs	260543103
—	KKR & Co LP Del Units	234,005	$5.693M	0.2%	$19.71	—	ml	48248m102
IMLPX	Maingate MLP Fund Class I	335,258	$4.905M	0.2%	$11.81	—	mf	560599201
PM	Philip Morris Intl Inc	55,705	$4.696M	0.2%	$49.56	-2.7%	cs	718172109
KO	Coca-Cola Co	102,967	$4.362M	0.2%	$27.57	+1.9%	cs	191216100
WMT	Wal Mart Stores Inc	56,452	$4.238M	0.1%	$19.99	+2.7%	cs	931142103
BA	Boeing Co	31,085	$3.955M	0.1%	$80.37	+40.1%	cs	097023105
—	Visa Inc Cl A	18,625	$3.924M	0.1%	$192.64	—	cs	92826c839
INTC	Intel Corp	118,932	$3.675M	0.1%	$17.17	+20.5%	cs	458140100
—	El Paso Pipeline Partners LP	100,400	$3.637M	0.1%	$42.05	—	ml	283702108
—	Spectra Energy Partners LP	65,400	$3.489M	0.1%	$46.21	—	ml	84756n109
—	Oracle Corp	74,048	$3.001M	0.1%	$32.92	—	cs	68389x105
—	Nestle SA Nom	38,250	$2.969M	0.1%	$65.80	—	cs	h57312649
—	Novartis AG Namen AKT	31,600	$2.867M	0.1%	$70.70	—	cs	h5820q150
F	Ford Motor Co	156,000	$2.689M	0.1%	$7.72	+14.8%	cs	345370860
—	General Electric Co	98,801	$2.596M	0.1%	$23.23	—	cs	369604103
TEVA	Teva Pharmaceutical Industries	47,000	$2.464M	0.1%	$39.14	—	ad	881624209
PG	Procter & Gamble Co	31,019	$2.438M	0.1%	$55.07	+5.8%	cs	742718109
HWC	Hancock Holding Co	68,482	$2.419M	0.1%	$28.58	+20.8%	cs	410120109
WLMIY	Wilmar Intl Ltd ADR	92,500	$2.367M	0.1%	$24.83	—	ad	971433107
—	Medifast Inc	67,621	$2.056M	0.1%	$25.91	—	cs	58470h101
—	Merck & Co Inc	35,238	$2.039M	0.1%	$46.45	—	cs	58933y105
—	Dominion Resources Inc VA	28,360	$2.028M	0.1%	$56.81	—	cs	25746u109
—	Exelon Corp	55,000	$2.006M	0.1%	$30.56	—	cs	30161n101
CVX	Chevron Corp	14,757	$1.927M	0.1%	$71.41	+6.3%	cs	166764100
—	China Mobile Limited Sp ADR	38,900	$1.891M	0.1%	$51.77	—	ad	16941m109
—	TC Pipelines LP	33,500	$1.731M	0.1%	$49.18	—	ml	87233q108
AMGN	Amgen Inc	14,530	$1.72M	0.1%	$73.34	+13.7%	cs	031162100
GILD	Gilead Sciences Inc	20,000	$1.658M	0.1%	$36.21	+49.3%	cs	375558103
—	America Movil SAB de CV Sp ADR	70,680	$1.467M	0.1%	$21.75	—	ad	02364w105
—	PetroChina Co Ltd Sp ADR	11,300	$1.419M	0.0%	$110.72	—	ad	71646e100
—	Goldman Sachs Group Inc	8,450	$1.415M	0.0%	$151.24	—	cs	38141g104
—	Banco Bilbao Vizcaya Argentari	110,424	$1.41M	0.0%	$8.41	—	ad	05946k101
—	3M Co	9,380	$1.344M	0.0%	$109.34	—	cs	88579y101
PEP	PepsiCo Inc	12,560	$1.122M	0.0%	$56.11	+8.6%	cs	713448108
HSBC	HSBC Holdings PLC Sp ADR	21,161	$1.075M	0.0%	$51.90	—	ad	404280406
ABT	Abbott Laboratories	24,520	$1.003M	0.0%	$28.85	+9.2%	cs	002824100
—	Oaktree Cap Group LLC Unit Cl	18,420	$921K	0.0%	$56.51	—	cs	674001201
—	Cisco Systems Inc	35,050	$871K	0.0%	$24.31	—	cs	17275r102
—	Barclays PLC ADR	58,625	$857K	0.0%	$17.32	—	ad	06738e204
HMC	Honda Motor Ltd American	21,400	$749K	0.0%	$37.24	—	ad	438128308
—	Novartis AG Sp ADR	8,000	$724K	0.0%	$71.10	—	ad	66987v109
—	Abbvie Inc	12,800	$722K	0.0%	$41.35	—	cs	00287y109
—	FedEx Corp	4,703	$712K	0.0%	$98.66	—	cs	31428x106
QCOM	Qualcomm Inc	8,000	$634K	0.0%	$45.38	+26.2%	cs	747525103
—	China Everbright Intl Ltd	420,000	$592K	0.0%	$1.05	—	cs	y14226107
—	Walgreen Co	7,185	$533K	0.0%	$44.20	—	cs	931422109
—	Tidewater Inc	9,086	$510K	0.0%	$56.94	—	cs	886423102
SCHW	Schwab Charles Corp	16,650	$448K	0.0%	$16.49	+38.6%	cs	808513105
GPC	Genuine Parts Co	4,800	$421K	0.0%	$54.12	+13.9%	cs	372460105
—	Fibria Celulose SA Sp ADR	43,000	$418K	0.0%	$11.09	—	ad	31573a109
SBUX	Starbucks Corp	5,330	$412K	0.0%	$30.23	-4.5%	cs	855244109
—	MasterCard Inc Cl A	5,600	$411K	0.0%	$132.90	—	cs	57636q104
IBM	International Business Machine	2,121	$384K	0.0%	$118.09	-4.9%	cs	459200101
ADP	Automatic Data Processing Inc	4,200	$333K	0.0%	$45.09	+17.2%	cs	053015103
—	Altria Group Inc	7,400	$310K	0.0%	$35.14	—	cs	02209s103
—	Blackstone Group LP	9,000	$301K	0.0%	$24.89	—	ml	09253u108
—	Enbridge Inc	6,000	$285K	0.0%	$41.67	—	cs	29250n105
BHP	BHP Billiton Ltd Sp ADR	4,000	$274K	0.0%	$58.09	—	ad	088606108
—	Eldorado Gold Corp	35,500	$271K	0.0%	$6.02	—	cs	284902103
—	Och-Ziff Cap Mgmt Group Cl A	19,000	$263K	0.0%	$13.84	—	ml	67551u105
CTRA	Cabot Oil & Gas Corp	7,600	$259K	0.0%	$25.68	+1.0%	cs	127097103
—	Concho Resources Inc	1,600	$231K	0.0%	$144.38	—	cs	20605p101
—	Target Corp	3,815	$221K	0.0%	$57.93	—	cs	87612e106
—	GlaxoSmithKline PLC Sp ADR	4,000	$214K	0.0%	$50.56	—	ad	37733w105
—	SuperValue Inc	25,000	$205K	0.0%	$6.20	—	cs	868536103
FHN	First Horizon Natl Corp	17,320	$205K	0.0%	$7.41	+10.2%	cs	320517105
—	First Marblehead Corp	38,040	$200K	0.0%	$7.39	—	cs	320771207
MTG	MGIC Inv Corp WI	21,500	$199K	0.0%	$5.69	+52.5%	cs	552848103
—	Lakes Entertainment Inc	41,752	$197K	0.0%	$3.52	—	cs	51206p109
—	Alcoa Inc	12,010	$179K	0.0%	$7.82	—	cs	013817101
—	Rentokil Initial 2005 PLC	80,000	$152K	0.0%	$1.36	—	cs	g7494g105
—	Pengrowth Energy Corp	10,000	$72,000	0.0%	$4.91	—	cs	70706p104
—	Galena Biopharma Inc	12,750	$39,000	0.0%	$3.06	—	cs	363256108
—	Active Power Inc	14,000	$39,000	0.0%	$4.21	—	cs	00504w308
—	1/100,000 Kinder Morgan Mgmt L	2,971,869	$2,000	0.0%	$0.00	—	cs	eke55u103
—	First Horizon Fractional	83,143	$0	0.0%	—	—	cs	dca517101