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 Corp.(New) COM 00206r102 8,500 251,328 SH   SOLE   251,328 0 0
Alliance Resource Partners - L COM 01877r108 4,325 58,344 SH   SOLE   58,344 0 0
Astrazeneca PLC - Spons ADR COM 046353108 9,807 188,848 SH   SOLE   188,848 0 0
BAE Systems COM 05523r107 507 17,210 SH   SOLE   17,210 0 0
Boardwalk Pipeline Ptnrs COM 096627104 11,958 393,757 SH   SOLE   393,757 0 0
British American Tobacco PLC COM 110448107 546 5,197 SH   SOLE   5,197 0 0
Brookfield Infra Partners COM g16252101 6,747 177,448 SH   SOLE   177,448 0 0
Cheniere Energy Partners LP COM 16411q101 4,460 169,207 SH   SOLE   169,207 0 0
Credit Suisse Group COM 225401108 278 9,108 SH   SOLE   9,108 0 0
Diamond Offshore Drilling COM 25271c102 8,864 142,231 SH   SOLE   142,231 0 0
Energy Trans Equity LP COM 29273v100 5,152 78,327 SH   SOLE   78,327 0 0
Energy Transfer Partners COM 29273R109 12,379 237,740 SH   SOLE   237,740 0 0
Federated Investors Inc COM 314211103 10,947 403,045 SH   SOLE   403,045 0 0
HSBC Holdings PLC COM 404280406 128 2,359 SH   SOLE   2,359 0 0
Health Care Reit Inc COM 42217k106 9,145 146,597 SH   SOLE   146,597 0 0
Hutchison Port Hldgs USD Sedol COM 44842D101 74 94,908 SH   SOLE   94,908 0 0
Imperial Tobacco Group PLC COM 453142101 489 6,589 SH   SOLE   6,589 0 0
KKR Financial Hldg Dela COM 48248a306 10,260 993,258 SH   SOLE   993,258 0 0
Kinder Morgan Energy Partners COM 494550106 17,689 221,585 SH   SOLE   221,585 0 0
National Retail Properties Inc COM 637417106 9,518 299,109 SH   SOLE   299,109 0 0
Nestles ADR COM 641069406 277 3,985 SH   SOLE   3,985 0 0
Novartis AG - ADR COM 66987V109 5,617 73,229 SH   SOLE   73,229 0 0
Novo Nordisk AS COM 670100205 62 366 SH   SOLE   366 0 0
Oaktree Capital Group LLC COM 674001201 13,239 252,894 SH   SOLE   252,894 0 0
PennyMac Mtg Inv Tr COM 70931t103 15,503 683,574 SH   SOLE   683,574 0 0
Philip Morris Intl Inc COM 718172109 3,934 45,434 SH   SOLE   45,434 0 0
Plains All American Pipeline L COM 726503105 6,032 114,545 SH   SOLE   114,545 0 0
Posco ADR COM 693483109 75 1,025 SH   SOLE   1,025 0 0
Realty Income Corp COM 756109104 9,509 239,226 SH   SOLE   239,226 0 0
Regal Entertainment Group COM 758766109 13,184 694,646 SH   SOLE   694,646 0 0
Samsung SEDOL 4942818 COM 796050888 498 781 SH   SOLE   781 0 0
Sanofi Aventis COM 80105n105 118 2,333 SH   SOLE   2,333 0 0
Sap Aktiengesell COM 803054204 189 2,558 SH   SOLE   2,558 0 0
Solar Capital Ltd COM 83413u100 6,728 303,317 SH   SOLE   303,317 0 0
Starwood Property Trust Inc COM 85571b105 8,908 371,621 SH   SOLE   371,621 0 0
TC Pipelines LP COM 87233q108 7,053 144,834 SH   SOLE   144,834 0 0
Teekay LNG Partners LP COM y8564m105 9,759 221,251 SH   SOLE   221,251 0 0
Telstra Corp LTD COM 87969n204 421 18,137 SH   SOLE   18,137 0 0
Unilever ADR COM 904784709 264 6,989 SH   SOLE   6,989 0 0
Vodafone Group PLC COM 92857w209 11,435 325,042 SH   SOLE   325,042 0 0