The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Hershey Company COM 427866108 13,124 97,920 SH   SOLE   87,715 0 10,205
PPL Corp. COM 69351T106 12,773 411,910 SH   SOLE   365,733 0 46,177
Duke Energy Corp. COM 26441C204 11,079 125,559 SH   SOLE   113,188 0 12,371
Coca Cola Company COM 191216100 10,784 211,769 SH   SOLE   194,030 0 17,739
Dominion Energy, Inc. COM 25746U109 10,098 130,607 SH   SOLE   112,269 0 18,338
The AES Corp. COM 00130H105 9,932 592,565 SH   SOLE   543,262 0 49,303
Clorox Company COM 189054109 9,064 59,204 SH   SOLE   53,532 0 5,672
Newell Brands Inc. COM 651229106 8,101 525,363 SH   SOLE   431,155 0 94,208
Alliant Energy Corp. COM 018802108 7,998 162,967 SH   SOLE   145,324 0 17,643
Berkshire Hathaway, Inc. (Class B) CL B 084670702 7,858 36,858 SH   SOLE   29,965 0 6,893
Annaly Capital Management, Inc. COM 035710409 7,857 860,516 SH   SOLE   729,103 0 131,413
Consolidated Edison, Inc. COM 209115104 7,826 89,262 SH   SOLE   79,552 0 9,710
Molson Coors Brewing Co CL B 60871R209 7,563 135,055 SH   SOLE   117,936 0 17,119
OUTFRONT Media Inc. COM 69007J106 6,780 262,860 SH   SOLE   224,055 0 38,805
The GEO Group, Inc. COM 36162J106 6,462 307,520 SH   SOLE   256,983 0 50,537
Quest Diagnostics Inc. COM 74834L100 6,068 59,589 SH   SOLE   47,881 0 11,708
Viacom Inc. CL B 92553P201 6,010 201,196 SH   SOLE   161,314 0 39,882
Luckin Coffee, Inc. SPONSORED ADS 54951L109 5,862 300,754 SH   SOLE   245,223 0 55,531
Aqua America, Inc. COM 03836W103 5,800 140,186 SH   SOLE   125,532 0 14,654
AT&T Inc. COM 00206R102 5,689 169,780 SH   SOLE   138,594 0 31,186
Conagra Brands Inc. COM 205887102 5,512 207,836 SH   SOLE   187,650 0 20,186
Colgate-Palmolive Company COM 194162103 5,409 75,466 SH   SOLE   65,740 0 9,726
Public Storage COM 74460D109 5,326 22,361 SH   SOLE   18,267 0 4,094
Host Hotels & Resorts, Inc. COM 44107P104 5,146 282,406 SH   SOLE   227,820 0 54,586
Coty Inc. COM CL A 222070203 4,959 370,121 SH   SOLE   329,943 0 40,178
Iron Mountain Inc. COM 46284V101 4,850 154,982 SH   SOLE   129,118 0 25,864
Celgene Corp. COM 151020104 4,828 52,235 SH   SOLE   43,027 0 9,208
Park Hotels & Resorts Inc. COM 700517105 4,768 173,013 SH   SOLE   140,627 0 32,386
Bristol-Myers Squibb Company COM 110122108 4,749 104,712 SH   SOLE   83,798 0 20,914
Archer-Daniels-Midland Co. COM 039483102 3,635 89,095 SH   SOLE   75,492 0 13,603
Kraft Heinz Company COM 500754106 2,797 90,095 SH   SOLE   78,325 0 11,770
Tyson Foods CL A 902494103 2,793 34,598 SH   SOLE   28,268 0 6,330
General Mills, Inc. COM 370334104 2,766 52,658 SH   SOLE   39,673 0 12,985
S P D R TRUST Unit SR TR UNIT 78462F103 2,644 9,025 SH   SOLE   0 0 9,025
Invesco DB US Dollar Index Bullish Fund DOLL INDX BULL 46141D203 2,582 99,406 SH   SOLE   0 0 99,406
iShares 20 Treasury Bond fund 20 YR TR BD ETF 464287432 800 6,025 SH   SOLE   6,025 0 0
Hostess Brands Inc CL A 44109J106 527 36,488 SH   SOLE   36,488 0 0
American States Water Company COM 029899101 483 6,421 SH   SOLE   6,421 0 0
Avista Corp. COM 05379B107 483 10,829 SH   SOLE   10,829 0 0
Agree Realty Corp. COM 008492100 479 7,472 SH   SOLE   7,472 0 0
Greenlight Capital RE, LTD. CL A G4095J109 427 50,330 SH   SOLE   50,330 0 0
Vanguard Extended Duration Trs ETF EXTENDED DUR 921910709 407 3,201 SH   SOLE   3,201 0 0
Invesco Taxable TAXABLE MUN BD 46138G805 403 12,822 SH   SOLE   12,822 0 0
Ishares Tr Dow Jones Re US REAL ES ETF 464287739 395 4,526 SH   SOLE   4,526 0 0
Utilities Spdr fund SBI INT-UTILS 81369Y886 394 6,613 SH   SOLE   6,613 0 0
Consumer Staples Spdr Fund SBI CONS STPLS 81369Y308 392 6,746 SH   SOLE   6,746 0 0
Cott Corp. COM 22163N106 390 29,198 SH   SOLE   29,198 0 0
Pattern Energy Group Inc. CL A 70338P100 386 16,734 SH   SOLE   16,734 0 0
South Jersey Industries, Inc. COM 838518108 368 10,924 SH   SOLE   10,924 0 0
KKR Real Estate Finance Trust Inc. COM 48251K100 335 16,832 SH   SOLE   16,832 0 0
TPG RE Finance Trust, Inc. COM 87266M107 324 16,801 SH   SOLE   16,801 0 0
Spdr Series TRUST Spdr Bloomberg SPDR BLOOMBERG 78468R663 324 3,536 SH   SOLE   3,536 0 0
Otter Tail Corp. COM 689648103 289 5,469 SH   SOLE   5,469 0 0
Sibanye Gold Ltd. ADR 825724206 289 60,758 SH   SOLE   60,758 0 0
Physicians Realty Trust COM 71943U104 256 14,646 SH   SOLE   14,646 0 0
Tanger Factory Outlet Centers, Inc. COM 875465106 251 15,482 SH   SOLE   15,482 0 0
Resideo Technologies, Inc. CL A 76118Y104 243 11,076 SH   SOLE   11,076 0 0
Hain Celestial Group, Inc. COM 405217100 231 10,532 SH   SOLE   10,532 0 0
Senior Housing Properties Trust REIT 81721M109 230 27,827 SH   SOLE   27,827 0 0
Retail Properties of America, Inc. CLA A 76131V202 225 19,117 SH   SOLE   19,117 0 0
Kite Realty Group Trust COM 49803T300 218 14,387 SH   SOLE   14,387 0 0
Invesco Mortgage Capital Inc. REIT 46131B100 217 13,437 SH   SOLE   13,437 0 0
Vaneck Vectors Etf Tr Mtg Reit Income MTG REIT INCOME 92189F452 204 8,789 SH   SOLE   8,789 0 0
Ishares Iboxx Invt Grade IBOXX INV CP ETF 464287242 204 1,636 SH   SOLE   1,636 0 0
Dean Foods Company COM 242370203 21 23,505 SH   SOLE   23,505 0 0
American Outdoor Brands Corp. COM 02874P103 170 18,889 SH   SOLE   18,889 0 0
Houghton Mifflin Harcourt Company COM 44157R109 91 15,768 SH   SOLE   15,768 0 0
Sally Beauty Holdings Inc COM 79546E104 180 13,486 SH   SOLE   13,486 0 0
United Natural Foods, Inc. COM 911163103 110 12,284 SH   SOLE   12,284 0 0
Camping World Holdings, Inc. CL A 13462K109 149 12,018 SH   SOLE   12,018 0 0
Element Solutions, Inc. COM 28618M106 122 11,759 SH   SOLE   11,759 0 0
Braemar Hotels & Resorts Inc. COM 10482B101 113 11,441 SH   SOLE   11,441 0 0
Uniti Group Inc Com REIT 91325V108 108 11,310 SH   SOLE   11,310 0 0