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
Ameren Corp COM 023608102 641 18,600 SH   SOLE   18,600 0 0
Apache Corp COM 037411105 4,561 54,410 SH   SOLE   54,410 0 0
Apollo Investment COM 03761u106 2,860 369,461 SH   SOLE   369,461 0 0
Apple Inc. COM 037833100 5,163 13,020 SH   SOLE   13,020 0 0
Archer - Daniels COM 039483102 1,706 50,310 SH   SOLE   50,310 0 0
Ares Capital Corp COM 04010l103 172 10,000 SH   SOLE   10,000 0 0
BP p.l.c COM 055622104 2,922 70,000 SH   SOLE   70,000 0 0
Barrick Gold Corp COM 067901108 1,059 67,300 SH   SOLE   67,300 0 0
Bed Bath & Beyond COM 075896100 6,123 86,300 SH   SOLE   86,300 0 0
Blackrock Kelso Capital COM 092533108 468 50,000 SH   SOLE   50,000 0 0
CVS Caremark COM 126650100 4,870 85,175 SH   SOLE   85,175 0 0
Capital One Financial COM 14040h105 2,952 47,000 SH   SOLE   47,000 0 0
Cardinal Health COM 14149y108 3,428 72,625 SH   SOLE   72,625 0 0
Caterpillar Inc. COM 149123101 4,288 51,979 SH   SOLE   51,979 0 0
Check Point Software COM M22465104 994 20,000 SH   SOLE   20,000 0 0
ChevronTexaco Corp COM 166764100 2,208 18,660 SH   SOLE   18,660 0 0
Chicago Bridge & Iron COM 167250109 1,151 19,300 SH   SOLE   19,300 0 0
Cisco Systems Inc COM 17275r102 3,268 134,300 SH   SOLE   134,300 0 0
Coach Inc COM 189754104 1,309 22,925 SH   SOLE   22,925 0 0
Cognizant Tech COM 192446102 1,253 20,000 SH   SOLE   20,000 0 0
Deere & Co. COM 244199105 2,880 35,450 SH   SOLE   35,450 0 0
Devon Energy Corp COM 25179M103 1,115 21,500 SH   SOLE   21,500 0 0
Dick's Sporting Goods COM 253393102 1,141 22,800 SH   SOLE   22,800 0 0
ENSCO Intl COM G3157S106 7,820 134,550 SH   SOLE   134,550 0 0
Eaton Corp COM g29183103 821 12,475 SH   SOLE   12,475 0 0
Express Scripts COM 30219g108 3,214 52,060 SH   SOLE   52,060 0 0
F5 Networks Inc COM 315616102 4,782 69,500 SH   SOLE   69,500 0 0
FedEx COM 31428x106 2,898 29,400 SH   SOLE   29,400 0 0
Fifth Street Finance COM 31678a103 3,878 371,100 SH   SOLE   371,100 0 0
General Electric COM 369604103 748 32,265 SH   SOLE   32,265 0 0
Hess Corp COM 42809h107 1,687 25,375 SH   SOLE   25,375 0 0
Int'l Business Mach. COM 459200101 3,989 20,875 SH   SOLE   20,875 0 0
Intel Corp. COM 458140100 1,524 62,910 SH   SOLE   62,910 0 0
J.P. Morgan Chase COM 46625H100 4,248 80,476 SH   SOLE   80,476 0 0
Johnson & Johnson COM 478160104 4,152 48,355 SH   SOLE   48,355 0 0
Kohl's Corp COM 500255104 1,980 39,200 SH   SOLE   39,200 0 0
L-3 Communications COM 502424104 1,091 12,725 SH   SOLE   12,725 0 0
Metlife Inc COM 59156r108 2,736 59,800 SH   SOLE   59,800 0 0
Microsoft COM 594918104 4,879 141,225 SH   SOLE   141,225 0 0
Mountain West Finl COM 62450b100 443 51,999 SH   SOLE   51,999 0 0
Oracle Systems COM 68389X105 1,530 49,825 SH   SOLE   49,825 0 0
PennantPark Invt COM 708062104 2,592 234,583 SH   SOLE   234,583 0 0
Pepsico Inc. COM 713448108 2,065 25,250 SH   SOLE   25,250 0 0
Prospect Capital Corp COM 74348t102 3,499 324,000 SH   SOLE   324,000 0 0
Qualcomm Inc COM 747525103 6,967 114,050 SH   SOLE   114,050 0 0
Riverbed Technology COM 768573107 2,849 183,100 SH   SOLE   183,100 0 0
SPDR Trust COM 78462f103 217 1,352 SH   SOLE   1,352 0 0
Schlumberger Ltd COM 806857108 5,075 70,825 SH   SOLE   70,825 0 0
Solar Capital COM 83413u100 2,343 101,490 SH   SOLE   101,490 0 0
Stryker Corp COM 863667101 3,622 55,995 SH   SOLE   55,995 0 0
TICC Capital COM 87244t109 2,519 261,840 SH   SOLE   261,840 0 0
TJX Companies Inc COM 872540109 219 4,377 SH   SOLE   4,377 0 0
Target Corp COM 87612e106 1,257 18,250 SH   SOLE   18,250 0 0
Transocean Ltd COM 040674667 1,803 37,600 SH   SOLE   37,600 0 0
Verizon Comm. COM 92343v104 2,014 40,000 SH   SOLE   40,000 0 0
WESCO International COM 95082p105 680 10,000 SH   SOLE   10,000 0 0
Wal-Mart Stores COM 931142103 3,430 46,050 SH   SOLE   46,050 0 0
Wells Fargo COM 949746101 4,582 111,030 SH   SOLE   111,030 0 0
Zimmer Holdings COM 98956P102 396 5,290 SH   SOLE   5,290 0 0
Vanguard REIT ETF COM 922908553 687 10,000 SH   SOLE   10,000 0 0
Aegon 6.5% PRD 007924400 1,120 45,300 SH   SOLE   45,300 0 0
First Ind Ser K 7.25% PRD 32054k772 646 25,800 SH   SOLE   25,800 0 0
Merrill IV 7.12% PRD 59021g204 1,255 49,850 SH   SOLE   49,850 0 0
Merrill V 7.28% PRD 59021k205 478 19,000 SH   SOLE   19,000 0 0
Morgan Stan VI 6.60% PRD 617461207 1,618 64,000 SH   SOLE   64,000 0 0
Ryl Bk Scotland 7.25% PRD 780097879 1,227 50,800 SH   SOLE   50,800 0 0