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
8point3 Energy Partners, LP COM 282539105 537 33,250 SH   SOLE   0 0 33,250
Abengoa Yield PLC COM g00349103 847 43,890 SH   SOLE   0 0 43,890
Brandywine Realty COM 105368203 926 67,815 SH   SOLE   0 0 67,815
Energy Transfer Equity LP COM 29273V100 1,370 99,720 SH   SOLE   0 0 99,720
Enterprise Prod Partners COM 293792107 2,429 94,950 SH   SOLE   0 0 94,950
Hersha Hospitality Trust Class COM 427825500 308 14,169 SH   SOLE   0 0 14,169
Liberty Property Tr COM 531172104 818 26,347 SH   SOLE   0 0 26,347
Magellan Midstream Partners, L COM 559080106 3,279 48,272 SH   SOLE   0 0 48,272
NRG Yield, Inc.Class C COM 62942X405 755 51,130 SH   SOLE   0 0 51,130
Next Era Energy Partners COM 65341b106 4,488 150,353 SH   SOLE   0 0 150,353
NextEra Energy, Inc. COM 65339F101 1,321 12,720 SH   SOLE   0 0 12,720
Pattern Energy Group, Inc. Cla COM 70338p100 2,086 99,740 SH   SOLE   0 0 99,740
Plains All American Pipeline L COM 726503105 396 17,138 SH   SOLE   0 0 17,138
Resource Capital COM 76120W708 633 49,644 SH   SOLE   0 0 49,644
Sempra Energy COM 816851109 772 8,210 SH   SOLE   0 0 8,210
Two Harbors Investment Corp. COM 90187B101 495 61,110 SH   SOLE   0 0 61,110
Williams Companies Inc COM 969457100 530 20,630 SH   SOLE   0 0 20,630
Alaska Airlines COM 011659109 1,225 15,210 SH   SOLE   0 0 15,210
Alexion Pharmaceutical COM 015351109 455 2,385 SH   SOLE   0 0 2,385
Allergan Inc. COM G0177J108 3,144 10,060 SH   SOLE   0 0 10,060
Alphabet, Inc. Cl A COM 02079k305 864 1,110 SH   SOLE   0 0 1,110
American Airlines Group COM 02376r102 1,244 29,370 SH   SOLE   0 0 29,370
American Intl. Group COM 026874784 1,601 25,840 SH   SOLE   0 0 25,840
Apple Computer COM 037833100 317 3,010 SH   SOLE   0 0 3,010
Bancorp Inc COM 05969a105 725 113,813 SH   SOLE   0 0 113,813
Celgne Corp COM 151020104 407 3,400 SH   SOLE   0 0 3,400
Citigroup COM 172967424 399 7,715 SH   SOLE   0 0 7,715
Danaher Corp COM 235851102 849 9,140 SH   SOLE   0 0 9,140
Delta Airlines COM 247361702 1,565 30,870 SH   SOLE   0 0 30,870
Facebook COM 30303M102 1,339 12,790 SH   SOLE   0 0 12,790
General Motors COM 37045v100 1,044 30,685 SH   SOLE   0 0 30,685
Home Depot COM 437076102 2,312 17,480 SH   SOLE   0 0 17,480
J.P. Morgan Chase COM 46625h100 403 6,110 SH   SOLE   0 0 6,110
Johnson & Johnson COM 478160104 2,703 26,310 SH   SOLE   0 0 26,310
MasterCard Inc. COM 57636q104 1,464 15,035 SH   SOLE   0 0 15,035
McCormick & Co. COM 579780206 815 9,530 SH   SOLE   0 0 9,530
Medtronic COM G5960L103 1,756 22,825 SH   SOLE   0 0 22,825
Microsoft COM 594918104 876 15,790 SH   SOLE   0 0 15,790
NVR, Inc. COM 62944t105 854 520 SH   SOLE   0 0 520
Nestle Spons ADR COM 641069406 2,783 37,365 SH   SOLE   0 0 37,365
Nielsen Holdings PLC COM G6518L108 1,179 25,290 SH   SOLE   0 0 25,290
Resource America COM 761195205 1,501 244,860 SH   SOLE   0 0 244,860
Southwest Airlines COM 844741108 904 21,000 SH   SOLE   0 0 21,000
Thermo Fisher Scientific COM 883556102 913 6,435 SH   SOLE   0 0 6,435
United Continental Holdings, I COM 910047109 1,222 21,320 SH   SOLE   0 0 21,320