| 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 Inc. | COM | 00206R102 | 573 | 16,200 | SH | | SOLE | | 16,200 | 0 | 0 |
| Altria Group, Inc | COM | 02209S103 | 900 | 21,470 | SH | | SOLE | | 21,470 | 0 | 0 |
| Amerigas Partners LP | UNIT LTD PARTN | 030975106 | 3,478 | 76,620 | SH | | SOLE | | 76,620 | 0 | 0 |
| BreitBurn Energy Partners LP | UNIT LTD PARTN | 106776107 | 2,644 | 119,544 | SH | | SOLE | | 119,544 | 0 | 0 |
| Buckeye Partners LP | UNIT LTD PARTN | 118230101 | 4,734 | 56,993 | SH | | SOLE | | 56,993 | 0 | 0 |
| Cominar REIT | COM | 199910951 | 2,572 | 145,350 | SH | | SOLE | | 145,350 | 0 | 0 |
| Commonwealth Bank of Australia | COM | 621503002 | 2,861 | 37,480 | SH | | SOLE | | 37,480 | 0 | 0 |
| Crombie REIT | COM | 227107109 | 1,167 | 92,516 | SH | | SOLE | | 92,516 | 0 | 0 |
| DCP Midstream Partners LP | UNIT LTD PARTN | 23311P100 | 3,286 | 57,649 | SH | | SOLE | | 57,649 | 0 | 0 |
| Energias de Portugal, SA ADR | ADR | 268353109 | 2,220 | 44,315 | SH | | SOLE | | 44,315 | 0 | 0 |
| Enerplus Resources Fund Trust | COM | 292766102 | 3,100 | 123,128 | SH | | SOLE | | 123,128 | 0 | 0 |
| Enterprise Products Partners L | UNIT LTD PARTN | 293792107 | 5,179 | 66,155 | SH | | SOLE | | 66,155 | 0 | 0 |
| Ferrellgas Partners LP | UNIT LTD PARTN | 315293100 | 2,602 | 95,085 | SH | | SOLE | | 95,085 | 0 | 0 |
| Gaztransport et Technigaz SAS | COM | BJYRDP5 | 682 | 10,460 | SH | | SOLE | | 10,460 | 0 | 0 |
| Genworth MI Canada Inc. | COM | 37252B953 | 2,281 | 63,920 | SH | | SOLE | | 63,920 | 0 | 0 |
| Gladstone Commerical Corp. | COM | 376536108 | 1,766 | 98,832 | SH | | SOLE | | 98,832 | 0 | 0 |
| GlaxoSmithKline PLC ADR | ADR | 37733W105 | 1,059 | 19,805 | SH | | SOLE | | 19,805 | 0 | 0 |
| Global Partners LP | UNIT LTD PARTN | 37946R109 | 3,667 | 90,260 | SH | | SOLE | | 90,260 | 0 | 0 |
| Grupo Aeroportuario Del Pacifi | ADR | 400506101 | 3,146 | 46,528 | SH | | SOLE | | 46,528 | 0 | 0 |
| H&R REIT | COM | 404428203 | 1,763 | 81,098 | SH | | SOLE | | 81,098 | 0 | 0 |
| Hatteras Financial Corp | COM | 41902R103 | 836 | 42,190 | SH | | SOLE | | 42,190 | 0 | 0 |
| Kinder Morgan Energy Partners | UNIT LTD PARTN | 494550106 | 4,163 | 50,640 | SH | | SOLE | | 50,640 | 0 | 0 |
| Kinder Morgan Management LLC | COM | 49455U100 | 506 | 6,410 | SH | | SOLE | | 6,410 | 0 | 0 |
| Liberty Property Trust | COM | 531172104 | 693 | 18,265 | SH | | SOLE | | 18,265 | 0 | 0 |
| Martin Midstream Partners LP | UNIT LTD PARTN | 573331105 | 2,880 | 69,935 | SH | | SOLE | | 69,935 | 0 | 0 |
| Monmouth Real Estate Investmen | COM | 609720107 | 3,965 | 394,871 | SH | | SOLE | | 394,871 | 0 | 0 |
| National Grid PLC ADS | ADR | 636274300 | 1,749 | 23,519 | SH | | SOLE | | 23,519 | 0 | 0 |
| ONE Gas, Inc. | COM | 68235P108 | 437 | 11,581 | SH | | SOLE | | 11,581 | 0 | 0 |
| Oneok Inc. | COM | 682680103 | 422 | 6,203 | SH | | SOLE | | 6,203 | 0 | 0 |
| Oneok Partners LP | UNIT LTD PARTN | 68268N103 | 4,580 | 78,155 | SH | | SOLE | | 78,155 | 0 | 0 |
| Partners REIT | COM | 70214B977 | 950 | 202,756 | SH | | SOLE | | 202,756 | 0 | 0 |
| Pengrowth Energy Trust | COM | 70706P104 | 1,890 | 263,250 | SH | | SOLE | | 263,250 | 0 | 0 |
| Phillips 66 Partners LP | UNIT LTD PARTN | 718549207 | 354 | 4,690 | SH | | SOLE | | 4,690 | 0 | 0 |
| Plains All American Pipeline L | UNIT LTD PARTN | 726503105 | 5,122 | 85,303 | SH | | SOLE | | 85,303 | 0 | 0 |
| Precinct Properties New Zealan | COM | 609327903 | 1,488 | 1,580,600 | SH | | SOLE | | 1,580,600 | 0 | 0 |
| Realty Income Corp. | COM | 756109104 | 1,718 | 38,670 | SH | | SOLE | | 38,670 | 0 | 0 |
| Sasol Ltd. ADR | ADR | 803866300 | 2,744 | 46,420 | SH | | SOLE | | 46,420 | 0 | 0 |
| Sempra Energy | COM | 816851109 | 312 | 2,975 | SH | | SOLE | | 2,975 | 0 | 0 |
| Suburban Propane Partners LP | UNIT LTD PARTN | 864482104 | 2,619 | 56,940 | SH | | SOLE | | 56,940 | 0 | 0 |
| Sunoco Logistic Partners LP | UNIT LTD PARTN | 86764L108 | 4,612 | 97,892 | SH | | SOLE | | 97,892 | 0 | 0 |
| TC Pipelines LP | UNIT LTD PARTN | 87233Q108 | 4,014 | 77,695 | SH | | SOLE | | 77,695 | 0 | 0 |
| Teekay LNG Partners LP | UNIT LTD PARTN | Y8564M105 | 2,330 | 50,502 | SH | | SOLE | | 50,502 | 0 | 0 |
| Total SA ADR | ADR | 89151E109 | 3,160 | 43,764 | SH | | SOLE | | 43,764 | 0 | 0 |
| USA Compression Partners | UNIT LTD PARTN | 90290N109 | 1,814 | 70,654 | SH | | SOLE | | 70,654 | 0 | 0 |
| Urstadt Biddle Properties A | COM | 917286205 | 1,596 | 76,440 | SH | | SOLE | | 76,440 | 0 | 0 |
| Verizon Communications Inc. | COM | 92343V104 | 792 | 16,180 | SH | | SOLE | | 16,180 | 0 | 0 |
| Vermilion Energy Trust | COM | 923725956 | 3,541 | 50,802 | SH | | SOLE | | 50,802 | 0 | 0 |
| Advent Software, Inc. | COM | 007974108 | 824 | 25,300 | SH | | SOLE | | 25,300 | 0 | 0 |
| Air Products & Chemicals Inc. | COM | 009158106 | 2,990 | 23,244 | SH | | SOLE | | 23,244 | 0 | 0 |
| Anadarko Petroleum Corp. | COM | 032511107 | 4,563 | 41,685 | SH | | SOLE | | 41,685 | 0 | 0 |
| Apple Inc. | COM | 037833100 | 263 | 2,827 | SH | | SOLE | | 2,827 | 0 | 0 |
| Aptargroup, Inc. | COM | 038336103 | 4,375 | 65,292 | SH | | SOLE | | 65,292 | 0 | 0 |
| Automatic Data Processing Inc. | COM | 053015103 | 5,234 | 66,020 | SH | | SOLE | | 66,020 | 0 | 0 |
| Avery Dennison Corp. | COM | 053611109 | 1,377 | 26,875 | SH | | SOLE | | 26,875 | 0 | 0 |
| B&G Foods Inc. | COM | 05508R106 | 1,240 | 37,945 | SH | | SOLE | | 37,945 | 0 | 0 |
| Bank of Ireland ADR | ADR | 46267Q202 | 2,085 | 149,981 | SH | | SOLE | | 149,981 | 0 | 0 |
| Bemis Co. Inc. | COM | 081437105 | 3,124 | 76,820 | SH | | SOLE | | 76,820 | 0 | 0 |
| Best Buy Co. Inc. | COM | 086516101 | 220 | 7,100 | SH | | SOLE | | 7,100 | 0 | 0 |
| C.R. Bard Inc. | COM | 067383109 | 1,036 | 7,245 | SH | | SOLE | | 7,245 | 0 | 0 |
| CPL Resources PLC | COM | G4817M109 | 751 | 78,455 | SH | | SOLE | | 78,455 | 0 | 0 |
| Church & Dwight Co., Inc. | COM | 171340102 | 1,000 | 14,290 | SH | | SOLE | | 14,290 | 0 | 0 |
| Colgate-Palmolive Co. | COM | 194162103 | 4,943 | 72,505 | SH | | SOLE | | 72,505 | 0 | 0 |
| Comcast Corp | COM | 20030N101 | 644 | 12,005 | SH | | SOLE | | 12,005 | 0 | 0 |
| Credito Real Sofom ENR | COM | B8DST5905 | 761 | 340,010 | SH | | SOLE | | 340,010 | 0 | 0 |
| Cummins Inc. | COM | 231021106 | 1,786 | 11,575 | SH | | SOLE | | 11,575 | 0 | 0 |
| Ecolab, Inc. | COM | 278865100 | 600 | 5,385 | SH | | SOLE | | 5,385 | 0 | 0 |
| Emerson Electric Co. | COM | 291011104 | 3,808 | 57,390 | SH | | SOLE | | 57,390 | 0 | 0 |
| Exxon Mobil Corp. | COM | 30231G102 | 1,472 | 14,625 | SH | | SOLE | | 14,625 | 0 | 0 |
| Fiserv Inc. | COM | 337738108 | 5,210 | 86,375 | SH | | SOLE | | 86,375 | 0 | 0 |
| General Mills Inc. | COM | 370334104 | 4,554 | 86,684 | SH | | SOLE | | 86,684 | 0 | 0 |
| Global Specialty Metals Inc. | COM | 37954N206 | 1,108 | 53,310 | SH | | SOLE | | 53,310 | 0 | 0 |
| Graco, Inc. | COM | 384109104 | 4,973 | 63,690 | SH | | SOLE | | 63,690 | 0 | 0 |
| Grainger, WW Inc. | COM | 384802104 | 4,675 | 18,385 | SH | | SOLE | | 18,385 | 0 | 0 |
| Hasbro Inc. | COM | 418056107 | 242 | 4,570 | SH | | SOLE | | 4,570 | 0 | 0 |
| Heineken NV ADR | ADR | 423012301 | 3,859 | 107,685 | SH | | SOLE | | 107,685 | 0 | 0 |
| Hormel Foods Corp. | COM | 440452100 | 6,031 | 122,215 | SH | | SOLE | | 122,215 | 0 | 0 |
| ITT Corp. | COM | 450911201 | 3,417 | 71,048 | SH | | SOLE | | 71,048 | 0 | 0 |
| Imperial Oil Ltd. | COM | 453038408 | 1,352 | 25,695 | SH | | SOLE | | 25,695 | 0 | 0 |
| Infosys Ltd. ADR | ADR | 456788108 | 2,024 | 37,640 | SH | | SOLE | | 37,640 | 0 | 0 |
| Ingredion Inc. | COM | 457187102 | 4,606 | 61,380 | SH | | SOLE | | 61,380 | 0 | 0 |
| Jacob Engineering Group | COM | 469814107 | 3,204 | 60,143 | SH | | SOLE | | 60,143 | 0 | 0 |
| John Wiley & Sons Inc. A | COM | 968223206 | 919 | 15,175 | SH | | SOLE | | 15,175 | 0 | 0 |
| Johnson & Johnson | COM | 478160104 | 633 | 6,055 | SH | | SOLE | | 6,055 | 0 | 0 |
| Johnson Controls Inc. | COM | 478366107 | 2,775 | 55,585 | SH | | SOLE | | 55,585 | 0 | 0 |
| Kimberly-Clark Corp. | COM | 494368103 | 2,148 | 19,315 | SH | | SOLE | | 19,315 | 0 | 0 |
| Lakeview Hotel Investment Co. | COM | 51222P950 | 34 | 85,300 | SH | | SOLE | | 85,300 | 0 | 0 |
| Lakeview Hotel Investment Corp | COM | HCB8J36M0 | 27 | 73,900 | SH | | SOLE | | 73,900 | 0 | 0 |
| Leggett & Platt Inc. | COM | 524660107 | 683 | 19,910 | SH | | SOLE | | 19,910 | 0 | 0 |
| Lincoln Electric Holdings Inc. | COM | 533900106 | 2,352 | 33,655 | SH | | SOLE | | 33,655 | 0 | 0 |
| Macy's, Inc. | COM | 55616P104 | 329 | 5,665 | SH | | SOLE | | 5,665 | 0 | 0 |
| Maranthon Oil Corp. | COM | 565849106 | 3,000 | 75,150 | SH | | SOLE | | 75,150 | 0 | 0 |
| Marathon Petroleum Corp. | COM | 56585A102 | 1,126 | 14,420 | SH | | SOLE | | 14,420 | 0 | 0 |
| McCormick & Co. Inc. | COM | 579780206 | 2,780 | 38,830 | SH | | SOLE | | 38,830 | 0 | 0 |
| McDonald's Corp. | COM | 580135101 | 4,188 | 41,570 | SH | | SOLE | | 41,570 | 0 | 0 |
| Mechel Open Joint Stock Co. AD | ADR | 583840103 | 149 | 67,825 | SH | | SOLE | | 67,825 | 0 | 0 |
| Mettler-Toledo International, | COM | 592688105 | 5,171 | 20,425 | SH | | SOLE | | 20,425 | 0 | 0 |
| Molina Healthcare Inc. | COM | 60855R100 | 667 | 14,940 | SH | | SOLE | | 14,940 | 0 | 0 |
| Norfolk & Southern Corp. | COM | 655844108 | 5,356 | 51,985 | SH | | SOLE | | 51,985 | 0 | 0 |
| Novartis AG ADR | ADR | 66987V109 | 1,361 | 15,035 | SH | | SOLE | | 15,035 | 0 | 0 |
| Novolipetsk GDR | ADR | 67011E204 | 978 | 69,635 | SH | | SOLE | | 69,635 | 0 | 0 |
| Occidental Petroleum Corp. | COM | 674599105 | 1,960 | 19,095 | SH | | SOLE | | 19,095 | 0 | 0 |
| Omnicom Group | COM | 681919106 | 3,937 | 55,273 | SH | | SOLE | | 55,273 | 0 | 0 |
| Parker Hannifin | COM | 701094104 | 4,963 | 39,471 | SH | | SOLE | | 39,471 | 0 | 0 |
| Paychex, Inc. | COM | 704326107 | 3,237 | 77,880 | SH | | SOLE | | 77,880 | 0 | 0 |
| Praxair, Inc. | COM | 74005P104 | 3,656 | 27,524 | SH | | SOLE | | 27,524 | 0 | 0 |
| Prosperity Bancshares Inc. | COM | 743606105 | 4,172 | 66,640 | SH | | SOLE | | 66,640 | 0 | 0 |
| Rostelecom Long Distance ADR | ADR | 778529107 | 515 | 33,580 | SH | | SOLE | | 33,580 | 0 | 0 |
| Sally Beauty Holdings Inc. | COM | 79546E104 | 989 | 39,426 | SH | | SOLE | | 39,426 | 0 | 0 |
| Schneider Electric SA | COM | 483410007 | 4,231 | 44,950 | SH | | SOLE | | 44,950 | 0 | 0 |
| Sherwin-Williams Co. | COM | 824348106 | 4,998 | 24,155 | SH | | SOLE | | 24,155 | 0 | 0 |
| Shire PLC | COM | 82481R106 | 3,385 | 14,375 | SH | | SOLE | | 14,375 | 0 | 0 |
| Singapore Telecommunications C | COM | 829ESC9B0 | 0 | 17,000 | SH | | SOLE | | 17,000 | 0 | 0 |
| Sirona Dental Systems Inc. | COM | 82966C103 | 759 | 9,200 | SH | | SOLE | | 9,200 | 0 | 0 |
| Smith & Nephew PLC | COM | 83175M205 | 1,084 | 12,145 | SH | | SOLE | | 12,145 | 0 | 0 |
| Sonoco Products Co. | COM | 835495102 | 600 | 13,655 | SH | | SOLE | | 13,655 | 0 | 0 |
| Spectral Diagnostics | COM | 847574100 | 7 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
| St. Gobain | COM | 738048909 | 2,330 | 41,307 | SH | | SOLE | | 41,307 | 0 | 0 |
| The Clorox Company | COM | 189054109 | 993 | 10,865 | SH | | SOLE | | 10,865 | 0 | 0 |
| Thermon Group Holdings, Inc. | COM | 88362T103 | 1,497 | 56,863 | SH | | SOLE | | 56,863 | 0 | 0 |
| Toronto Dominion Bank | COM | 891160509 | 4,025 | 78,290 | SH | | SOLE | | 78,290 | 0 | 0 |
| US Physical Therapy Inc. | COM | 90337L108 | 1,336 | 39,088 | SH | | SOLE | | 39,088 | 0 | 0 |
| Xylem, Inc | COM | 98419M100 | 1,865 | 47,735 | SH | | SOLE | | 47,735 | 0 | 0 |
| Yandex NV | COM | N97284108 | 1,755 | 49,240 | SH | | SOLE | | 49,240 | 0 | 0 |
