Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	USAI	185,651	$4.513M	7.8%	$24.31	$25.62	—	AMERN ENERGY	26922A552
EPD	EPD	110,676	$3.195M	5.5%	$28.87	$29.01	—	COM	293792107
WMB	WMB	107,359	$3.01M	5.2%	$28.04 *	$17.95	+8.9%	COM	969457100
ENB	ENB	82,357	$2.973M	5.1%	$36.10 *	$23.74	-1.3%	COM	29250N105
OKE	OKE	40,153	$2.763M	4.8%	$68.81 *	$32.05	+40.2%	COM	682680103
KMI	KMI	127,018	$2.653M	4.6%	$20.89 *	$12.46	+13.9%	COM	49456B101
IWV	IWV	13,298	$2.292M	4.0%	$172.36	$122.23	+41.0%	RUSSELL 3000 ETF	464287689
ET	ET	157,293	$2.228M	3.9%	$14.16	$15.89	—	COM UT LTD PTN	29273V100
—	CEQP	54,261	$1.941M	3.4%	$35.77	$24.39	—	UNIT LTD PARTNER	226344208
—	MMP	28,997	$1.856M	3.2%	$64.01	$70.31	—	COM UNIT RP LP	559080106
PAGP	PAGP	66,325	$1.656M	2.9%	$24.97	$25.93	—	LTD PARTNR INT A	72651A207
LNG	LNG	21,633	$1.481M	2.6%	$68.46	$59.53	+15.0%	COM NEW	16411R208
XLP	XLP	23,902	$1.388M	2.4%	$58.07	$53.66	+8.2%	SBI CONS STPLS	81369Y308
TRGP	TRGP	28,713	$1.127M	2.0%	$39.25 *	$33.15	-2.1%	COM	87612G101
—	ENLC	106,437	$1.073M	1.9%	$10.08	$15.69	—	COM UNIT REP LTD	29336T100
RSG	RSG	11,976	$1.038M	1.8%	$86.67 *	$44.23	+78.4%	COM	760759100
IGSB	IGSB	19,018	$1.016M	1.8%	$53.42	$51.56	+3.6%	SH TR CRPORT ETF	464288646
WM	WM	8,692	$1.003M	1.7%	$115.39 *	$55.46	+87.0%	COM	94106L109
LMT	LMT	2,757	$1.002M	1.7%	$363.44 *	$198.81	+53.6%	COM	539830109
—	NS	36,331	$986K	1.7%	$27.14	$27.61	—	UNIT COM	67058H102
BRK/B	BRKB	4,208	$897K	1.6%	$213.17	$150.79	+41.4%	CL B NEW	084670702
MKC	MKC	5,717	$886K	1.5%	$154.98 *	$42.62	+59.9%	COM NON VTG	579780206
—	TGE	41,041	$866K	1.5%	$21.10	$25.30	—	CLASS A SHS	874696107
ADP	ADP	5,105	$844K	1.5%	$165.33 *	$80.18	+79.6%	COM	053015103
MCD	MCD	3,784	$786K	1.4%	$207.72 *	$106.36	+68.0%	COM	580135101
HSY	HSY	5,529	$741K	1.3%	$134.02 *	$76.15	+51.4%	COM	427866108
TRV	TRV	4,817	$720K	1.2%	$149.47 *	$94.38	+37.9%	COM	89417E109
ECL	ECL	3,616	$714K	1.2%	$197.46 *	$141.48	+30.3%	COM	278865100
PEP	PEP	5,116	$671K	1.2%	$131.16 *	$79.20	+36.0%	COM	713448108
JNJ	JNJ	4,732	$659K	1.1%	$139.26 *	$90.46	+28.2%	COM	478160104
PG	PG	5,805	$637K	1.1%	$109.73 *	$64.19	+45.2%	COM	742718109
—	SEMG	52,767	$633K	1.1%	$12.00	$21.06	—	CL A	81663A105
—	RTN	3,596	$625K	1.1%	$173.80	$202.73	—	COM NEW	755111507
KMB	KMB	4,310	$574K	1.0%	$133.18 *	$92.51	+14.8%	COM	494368103
SHY	SHY	6,499	$551K	1.0%	$84.78	$83.11	+2.0%	1 3 YR TREAS BD	464287457
WES	WES	17,792	$547K	0.9%	$30.74	$31.33	—	COM UNIT LP INT	958669103
KO	KO	10,676	$544K	0.9%	$50.96 *	$33.90	+23.1%	COM	191216100
CL	CL	7,206	$516K	0.9%	$71.61 *	$56.72	+8.4%	COM	194162103
BUD	BUD	5,783	$512K	0.9%	$88.54	$108.74	-18.6%	SPONSORED ADR	03524A108
SJM	SJM	4,348	$501K	0.9%	$115.23 *	$96.61	-3.6%	COM NEW	832696405
AM	AM	42,393	$486K	0.8%	$11.46 *	$6.27	-9.8%	COM	03676B102
CLX	CLX	3,073	$471K	0.8%	$153.27 *	$101.14	+24.7%	COM	189054109
—	TELL	58,423	$459K	0.8%	$7.86	$9.29	—	COM	87968A104
KHC	KHC	14,561	$452K	0.8%	$31.04 *	$43.93	-48.4%	COM	500754106
GIS	GIS	8,272	$434K	0.8%	$52.47 *	$43.16	-2.8%	COM	370334104
—	UL	6,483	$402K	0.7%	$62.01	$49.23	—	SPON ADR NEW	904767704
CAG	CAG	12,941	$343K	0.6%	$26.50 *	$25.82	-21.3%	COM	205887102
—	ETRN	17,411	$343K	0.6%	$19.70	$20.94	—	COM	294600101
KDP	KDP	11,343	$328K	0.6%	$28.92 *	$24.21	+1.5%	COM	49271V100
—	K	5,833	$312K	0.5%	$53.49 *	$51.01	-22.0%	COM	487836108
LW	LW	4,724	$299K	0.5%	$63.29 *	$38.42	+49.0%	COM	513272104
AROC	AROC	26,118	$277K	0.5%	$10.61 *	$7.27	-0.7%	COM	03957W106
PBA	PBA	7,372	$274K	0.5%	$37.17 *	$25.12	+2.9%	COM	706327103
XLC	XLC	5,322	$262K	0.5%	$49.23	$44.82	+9.8%	COMMUNICATION	81369Y852
AMP	AMPE	10,000	$4,000	0.0%	$0.40 *	$109.91	+17.5%	COM	03076C106