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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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 Corp.(New) COM 00206r102 13,632 385,088 SH   SOLE   385,088 0 0
Annaly Capital Management COM 035710409 11,053 879,331 SH   SOLE   879,331 0 0
Astrazeneca PLC - Spons ADR COM 046353108 8,734 184,648 SH   SOLE   184,648 0 0
BAE Systems COM 05523r107 406 17,210 SH   SOLE   17,210 0 0
Boardwalk Pipeline Ptnrs COM 096627104 9,735 322,337 SH   SOLE   322,337 0 0
British American Tobacco PLC COM 110448107 1,023 9,935 SH   SOLE   9,935 0 0
Brookfield Asset Mgmt Ltd COM 112585104 18 503 SH   SOLE   503 0 0
Brookfield Infra Partners COM g16252101 6,551 179,368 SH   SOLE   179,368 0 0
Brookfield Property Partners L COM g16249107 1 28 SH   SOLE   28 0 0
Caterpillar Inc. COM 149123101 52 632 SH   SOLE   632 0 0
Cheniere Energy Partners LP COM 16411q101 5,112 171,027 SH   SOLE   171,027 0 0
Coca Cola Co. COM 191216100 112 2,797 SH   SOLE   2,797 0 0
Covidien PLC COM G2554F113 29 464 SH   SOLE   464 0 0
Credit Suisse Group COM 225401108 574 21,708 SH   SOLE   21,708 0 0
Diamond Offshore Drilling COM 25271c102 9,890 143,771 SH   SOLE   143,771 0 0
Energy Trans Equity LP COM 29273v100 4,736 79,177 SH   SOLE   79,177 0 0
Energy Transfer Partners COM 29273R109 12,145 240,300 SH   SOLE   240,300 0 0
Federated Investors Inc COM 314211103 11,167 407,395 SH   SOLE   407,395 0 0
Freeport-McMoran Cp & Gld COM 35671D857 29 1,033 SH   SOLE   1,033 0 0
General Electric COM 369604103 14 591 SH   SOLE   591 0 0
HSBC Holdings PLC COM 404280406 453 8,719 SH   SOLE   8,719 0 0
Health Care Reit Inc COM 42217k106 9,932 148,177 SH   SOLE   148,177 0 0
Hutchison Port Hldgs USD Sedol COM h025369 140 189,908 SH   SOLE   189,908 0 0
Imperial Tobacco Group PLC COM 453142101 550 7,899 SH   SOLE   7,899 0 0
Johnson & Johnson COM 478160104 63 735 SH   SOLE   735 0 0
KKR Financial Hldg Dela COM 48248a306 10,592 1,003,988 SH   SOLE   1,003,988 0 0
Kinder Morgan Energy Partners COM 494550106 14,809 173,409 SH   SOLE   173,409 0 0
McDonald's Corp. COM 580135101 115 1,160 SH   SOLE   1,160 0 0
National Retail Properties Inc COM 637417106 10,400 302,339 SH   SOLE   302,339 0 0
Nestles ADR COM 641069406 524 7,965 SH   SOLE   7,965 0 0
Novartis AG - ADR COM 66987V109 5,235 74,029 SH   SOLE   74,029 0 0
Novo Nordisk AS COM 670100205 113 726 SH   SOLE   726 0 0
Oracle Corp. COM 68389X105 47 1,523 SH   SOLE   1,523 0 0
Penn West Petroleum Ltd COM 707887105 1,765 166,803 SH   SOLE   166,803 0 0
PennyMac Mtg Inv Tr COM 70931t103 12,553 596,334 SH   SOLE   596,334 0 0
Philip Morris Intl Inc COM 718172109 3,979 45,934 SH   SOLE   45,934 0 0
Plains All American Pipeline L COM 726503105 6,462 115,785 SH   SOLE   115,785 0 0
Posco ADR COM 693483109 133 2,045 SH   SOLE   2,045 0 0
Pt Bank Mandiri Persero TBK COM 69367u105 351 39,181 SH   SOLE   39,181 0 0
Realty Income Corp COM 756109104 8,930 213,016 SH   SOLE   213,016 0 0
Regal Entertainment Group COM 758766109 12,568 702,146 SH   SOLE   702,146 0 0
Samsung SEDOL 4942818 COM s012367 391 671 SH   SOLE   671 0 0
Sanofi Aventis COM 80105n105 240 4,663 SH   SOLE   4,663 0 0
Sap Aktiengesell COM 803054204 373 5,118 SH   SOLE   5,118 0 0
Solar Capital Ltd COM 83413u100 5,814 251,804 SH   SOLE   251,804 0 0
Starwood Property Trust Inc COM 85571b105 9,297 375,641 SH   SOLE   375,641 0 0
TC Pipelines LP COM 87233q108 7,068 146,394 SH   SOLE   146,394 0 0
Taiwan Semi ADR COM 874039100 71 3,873 SH   SOLE   3,873 0 0
Teekay LNG Partners LP COM y8564m105 9,773 223,641 SH   SOLE   223,641 0 0
Telstra Corp LTD COM 87969n204 394 18,037 SH   SOLE   18,037 0 0
Teva Pharm COM 881624209 23 585 SH   SOLE   585 0 0
Unilever ADR COM 904784709 550 13,979 SH   SOLE   13,979 0 0
Verizon Communications COM 92343V104 7,336 145,725 SH   SOLE   145,725 0 0
Vodafone Group PLC COM 92857w209 10,569 367,632 SH   SOLE   367,632 0 0
Wells Fargo COM 949746101 85 2,065 SH   SOLE   2,065 0 0