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
Estimated average burden
hours per response: 23.8
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
AT&T COM 00206r102 8,626 220,733 SH   SOLE   0 0 220,733
AllianceBernstein Holdings, LP COM 01881g106 611 20,190 SH   SOLE   0 0 20,190
CatchMark Timber Trust COM 14912y202 138 12,000 SH   SOLE   0 0 12,000
Enbridge Inc. COM 29250n105 3,866 97,206 SH   SOLE   0 0 97,206
Energy Transfer LP COM 29273V100 42,887 3,342,681 SH   SOLE   0 0 3,342,681
Enterprise Prod Partners COM 293792107 59,614 2,116,979 SH   SOLE   0 0 2,116,979
Enterprise Prod Partners COM 293792107 10 340 SH   SOLE   0 0 340
Fortress Transportation Infr I COM 34960p101 662 33,880 SH   SOLE   0 0 33,880
Healthpeak Properties COM 42250P103 6,971 202,230 SH   SOLE   0 0 202,230
Kinder Morgan Inc. COM 49456b101 5,301 250,399 SH   SOLE   0 0 250,399
Liberty Property Tr COM 531172104 2,798 46,591 SH   SOLE   0 0 46,591
Magellan Midstream Partners, L COM 559080106 37,961 603,794 SH   SOLE   0 0 603,794
NextEra Energy Partners COM 65341b106 65,042 1,235,375 SH   SOLE   0 0 1,235,375
NextEra Energy, Inc. COM 65339F101 33,696 139,146 SH   SOLE   0 0 139,146
Pattern Energy Group, Inc. COM 70338p100 31,800 1,188,573 SH   SOLE   0 0 1,188,573
Pembina Pipeline Corp. COM 706327103 659 17,780 SH   SOLE   0 0 17,780
Plains All American Pipeline L COM 726503105 1,987 108,075 SH   SOLE   0 0 108,075
Teekay LNG Partners COM y8564m105 20,206 1,298,578 SH   SOLE   0 0 1,298,578
Verizon Comm COM 92343V104 5,863 95,492 SH   SOLE   0 0 95,492
Williams Companies Inc COM 969457100 783 33,025 SH   SOLE   0 0 33,025
Williams Companies Inc COM 969457100 38 1,590 SH   SOLE   0 0 1,590
3M Company COM 88579y101 2,408 13,647 SH   SOLE   0 0 13,647
ABB Ltd. COM 000375204 3,472 144,140 SH   SOLE   0 0 144,140
Abbott Laboratories COM 002824100 18,125 208,667 SH   SOLE   0 0 208,667
Advance Auto Parts COM 00751Y106 1,225 7,648 SH   SOLE   0 0 7,648
AerCap Holdings N.V. COM N00985106 575 9,350 SH   SOLE   0 0 9,350
Air Lease COM 00912x302 4,736 99,657 SH   SOLE   0 0 99,657
Air Products COM 009158106 379 1,611 SH   SOLE   0 0 1,611
Alphabet, Inc. Cl A COM 02079k305 25,286 18,879 SH   SOLE   0 0 18,879
Alphabet, Inc. Cl A COM 02079k305 67 50 SH   SOLE   0 0 50
Alphabet, Inc. Cl C COM 02079k107 1,417 1,060 SH   SOLE   0 0 1,060
Amazon.com Inc. COM 023135106 17,601 9,525 SH   SOLE   0 0 9,525
American Express COM 025816109 963 7,733 SH   SOLE   0 0 7,733
American Intl. Group COM 026874784 757 14,748 SH   SOLE   0 0 14,748
Anheuser-Busch InBev SA/NV COM 03524A108 6,419 78,245 SH   SOLE   0 0 78,245
Anheuser-Busch Inbev ADR COM 03524A108 476 5,800 SH   SOLE   0 0 5,800
Apple Computer COM 037833100 32,673 111,265 SH   SOLE   0 0 111,265
Automatic Data Processing COM 053015103 3,625 21,262 SH   SOLE   0 0 21,262
Bank of America COM 060505104 10,238 290,691 SH   SOLE   0 0 290,691
Becton Dickinson COM 075887109 10,310 37,907 SH   SOLE   0 0 37,907
Blackstone Group Inc. COM 09260D107 3,517 62,875 SH   SOLE   0 0 62,875
Boeing Company COM 097023105 583 1,789 SH   SOLE   0 0 1,789
Brkshire Hathaway A COM 084670108 1,019 3 SH   SOLE   0 0 3
Brkshire Hathaway B COM 084670702 18,506 81,702 SH   SOLE   0 0 81,702
Brookfield Infrastructure Part COM G16252101 6,579 131,600 SH   SOLE   0 0 131,600
CVS Health Corp COM 126650100 3,780 50,877 SH   SOLE   0 0 50,877
Cadence Design COM 127387108 640 9,224 SH   SOLE   0 0 9,224
Caterpillar COM 149123101 318 2,150 SH   SOLE   0 0 2,150
Centene Corp COM 15135B101 222 3,524 SH   SOLE   0 0 3,524
Century Communities, Inc. COM 156504300 916 33,510 SH   SOLE   0 0 33,510
Charles Schwab COM 808513105 273 5,740 SH   SOLE   0 0 5,740
Charter Communications, Inc. COM 16119P108 8,667 17,867 SH   SOLE   0 0 17,867
Chevron COM 166764100 2,831 23,491 SH   SOLE   0 0 23,491
Chubb Ltd. COM H1467J104 614 3,946 SH   SOLE   0 0 3,946
Cisco Systems COM 17275R102 3,534 73,684 SH   SOLE   0 0 73,684
Citigroup COM 172967424 16,180 202,532 SH   SOLE   0 0 202,532
Coca Cola Co. COM 191216100 8,704 157,259 SH   SOLE   0 0 157,259
Colgate Palmolive COM 194162103 1,307 18,990 SH   SOLE   0 0 18,990
Comcast Cl A COM 20030N101 428 9,524 SH   SOLE   0 0 9,524
ConocoPhillips COM 20825C104 2,323 35,729 SH   SOLE   0 0 35,729
Corning COM 219350105 253 8,700 SH   SOLE   0 0 8,700
Costco Wholesale COM 22160K105 5,431 18,478 SH   SOLE   0 0 18,478
Curtiss-Wright COM 231561101 9,007 63,932 SH   SOLE   0 0 63,932
D. R. Horton COM 23331A109 4,232 80,226 SH   SOLE   0 0 80,226
Deere & Co. COM 244199105 583 3,366 SH   SOLE   0 0 3,366
Delta Airlines COM 247361702 4,382 74,937 SH   SOLE   0 0 74,937
Dentsply Sirona COM 24906P109 2,545 44,970 SH   SOLE   0 0 44,970
Discovery Inc. A COM 25470f104 313 9,566 SH   SOLE   0 0 9,566
Discovery Inc. C COM 25470f302 982 32,206 SH   SOLE   0 0 32,206
Eli Lilly COM 532457108 639 4,860 SH   SOLE   0 0 4,860
Emerson Electric Co. COM 291011104 987 12,938 SH   SOLE   0 0 12,938
Estee Lauder COM 518439104 1,415 6,850 SH   SOLE   0 0 6,850
Exxon Mobil COM 30231G102 2,153 30,850 SH   SOLE   0 0 30,850
Facebook COM 30303M102 28,141 137,105 SH   SOLE   0 0 137,105
Fedex COM 31428x106 2,024 13,383 SH   SOLE   0 0 13,383
Fomento Economico Mexicano SA COM 344419106 1,716 18,160 SH   SOLE   0 0 18,160
General Electric COM 369604103 436 39,104 SH   SOLE   0 0 39,104
Genuine Parts COM 372460105 985 9,277 SH   SOLE   0 0 9,277
IBM COM 459200101 847 6,319 SH   SOLE   0 0 6,319
Illinois Tool Works COM 452308109 769 4,279 SH   SOLE   0 0 4,279
Intel Corp. COM 458140100 659 11,004 SH   SOLE   0 0 11,004
Invesco COM G491BT108 369 20,546 SH   SOLE   0 0 20,546
J.B.Hunt Transportation Servic COM 445658107 3,402 29,130 SH   SOLE   0 0 29,130
J.P. Morgan Chase COM 46625h100 22,463 161,141 SH   SOLE   0 0 161,141
Johnson & Johnson COM 478160104 31,233 214,113 SH   SOLE   0 0 214,113
KKR & Co. Inc. COM 48251W104 2,555 87,600 SH   SOLE   0 0 87,600
Kimberly Clark COM 494368103 2,429 17,660 SH   SOLE   0 0 17,660
Kuehne&Nagel Intl AG COM 100992916 3,675 21,805 SH   SOLE   0 0 21,805
Liberty Broadband C COM 530307305 218 1,734 SH   SOLE   0 0 1,734
Liberty Sirius Group C COM 531229607 334 6,948 SH   SOLE   0 0 6,948
Linde PLC COM G5494J103 479 2,250 SH   SOLE   0 0 2,250
McDonald's Corp. COM 580135101 338 1,710 SH   SOLE   0 0 1,710
Medtronic COM G5960L103 16,816 148,224 SH   SOLE   0 0 148,224
Merck COM 58933y105 6,923 76,119 SH   SOLE   0 0 76,119
MetLife COM 59156R108 7,571 148,542 SH   SOLE   0 0 148,542
Microsoft COM 594918104 22,776 144,428 SH   SOLE   0 0 144,428
Mondelez International Inc. COM 609207105 562 10,200 SH   SOLE   0 0 10,200
NRG Energy COM 629377508 15,308 385,107 SH   SOLE   0 0 385,107
Nestle Spons ADR COM 641069406 21,464 198,368 SH   SOLE   0 0 198,368
Noble Energy COM 655044105 1,147 46,159 SH   SOLE   0 0 46,159
Northrup Grumman COM 666807102 344 1,000 SH   SOLE   0 0 1,000
Northway Financial COM 667270201 300 8,877 SH   SOLE   0 0 8,877
Novartis COM 66987V109 6,055 63,945 SH   SOLE   0 0 63,945
Oracle COM 68389X105 355 6,700 SH   SOLE   0 0 6,700
Pepsico COM 713448108 4,632 33,891 SH   SOLE   0 0 33,891
Pfizer COM 717081103 5,641 143,965 SH   SOLE   0 0 143,965
Phillips 66 COM 718546104 1,952 17,518 SH   SOLE   0 0 17,518
Procter & Gamble COM 742718109 8,298 66,437 SH   SOLE   0 0 66,437
Pulte Homes Inc. COM 745867101 4,110 105,929 SH   SOLE   0 0 105,929
Roche Holding AG COM 771195104 4,577 112,910 SH   SOLE   0 0 112,910
Royal Dutch Shell COM 780259206 1,340 22,712 SH   SOLE   0 0 22,712
S&P Global Inc. COM 78409V104 437 1,600 SH   SOLE   0 0 1,600
SPDR Index Shs S&P China COM 78463X400 524 5,100 SH   SOLE   0 0 5,100
SPDR S&P 500 ETF COM 78462f103 4,525 14,060 SH   SOLE   0 0 14,060
SPDR S&P Midcap 400 EFT COM 78467y107 267 710 SH   SOLE   0 0 710
SVB Financial Group COM 78486Q101 2,156 8,590 SH   SOLE   0 0 8,590
Sherwin Williams Co. COM 824348106 2,177 3,730 SH   SOLE   0 0 3,730
Southwest Airlines COM 844741108 1,178 21,819 SH   SOLE   0 0 21,819
State Street Corp COM 857477103 527 6,664 SH   SOLE   0 0 6,664
Stryker Corp COM 863667101 2,910 13,862 SH   SOLE   0 0 13,862
Sysco COM 871829107 3,222 37,664 SH   SOLE   0 0 37,664
T-Mobile US, Inc. COM 872590104 7,148 91,148 SH   SOLE   0 0 91,148
Thermo Fisher Scientific COM 883556102 7,723 23,774 SH   SOLE   0 0 23,774
Thomson Reuters Corp. COM 884903709 269 3,754 SH   SOLE   0 0 3,754
Tiffany & Co. COM 886547108 604 4,519 SH   SOLE   0 0 4,519
UBS Group AG COM H42097107 430 34,200 SH   SOLE   0 0 34,200
Unilever NV NY COM 904784709 4,945 86,060 SH   SOLE   0 0 86,060
Union Pacific COM 907818108 2,496 13,806 SH   SOLE   0 0 13,806
United Technologies COM 913017109 563 3,760 SH   SOLE   0 0 3,760
UnitedHealth Group COM 91324P102 882 3,000 SH   SOLE   0 0 3,000
Visa COM 92826c839 17,017 90,564 SH   SOLE   0 0 90,564
Vistra Energy Corp COM 92840m102 12,192 530,327 SH   SOLE   0 0 530,327
W. W. Grainger COM 384802104 350 1,034 SH   SOLE   0 0 1,034
Walt Disney COM 254687106 9,998 69,126 SH   SOLE   0 0 69,126
Wells Fargo COM 949746101 847 15,739 SH   SOLE   0 0 15,739
Weyerhaeuser Co. COM 962166104 1,867 61,834 SH   SOLE   0 0 61,834
William Lyon Home COM 552074700 200 10,000 SH   SOLE   0 0 10,000
WisdomTree Germany Hedged Equi COM 97717w448 406 12,700 SH   SOLE   0 0 12,700
iShares Russell 1000 Growth ET COM 464287614 424 2,412 SH   SOLE   0 0 2,412
iShares Russell 2000 Value ETF COM 464287630 267 2,080 SH   SOLE   0 0 2,080
iShares Russell 3000 ETF COM 464287689 263 1,397 SH   SOLE   0 0 1,397
iShares S&P 500 Growth Index F COM 464287309 268 1,383 SH   SOLE   0 0 1,383
iShares US Technology COM 464287721 628 2,700 SH   SOLE   0 0 2,700