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 | 2,915 | 86,790 | SH | | SOLE | | 86,790 | 0 | 0 |
Altria Group, Inc. | COM | 02209S103 | 3,698 | 75,050 | SH | | SOLE | | 75,050 | 0 | 0 |
Amerigas Partners LP | UNIT LTD PARTN | 030975106 | 6,320 | 131,895 | SH | | SOLE | | 131,895 | 0 | 0 |
BreitBurn Energy Partners LP | UNIT LTD PARTN | 106776107 | 1,915 | 273,544 | SH | | SOLE | | 273,544 | 0 | 0 |
Buckeye Partners LP | UNIT LTD PARTN | 118230101 | 9,193 | 121,503 | SH | | SOLE | | 121,503 | 0 | 0 |
Chesapeake Utilities Corp. | COM | 165303108 | 3,606 | 72,605 | SH | | SOLE | | 72,605 | 0 | 0 |
Cleco Corp. | COM | 12561W105 | 1,753 | 32,145 | SH | | SOLE | | 32,145 | 0 | 0 |
Cominar REIT | COM | 199910951 | 2,338 | 145,490 | SH | | SOLE | | 145,490 | 0 | 0 |
Commonwealth Bank of Australia | COM | 621503002 | 5,625 | 80,250 | SH | | SOLE | | 80,250 | 0 | 0 |
Crombie REIT | COM | 227107109 | 1,032 | 92,516 | SH | | SOLE | | 92,516 | 0 | 0 |
DCP Midstream Partners LP | UNIT LTD PARTN | 23311P100 | 5,070 | 111,609 | SH | | SOLE | | 111,609 | 0 | 0 |
DTE Energy Co. | COM | 233331107 | 2,880 | 33,340 | SH | | SOLE | | 33,340 | 0 | 0 |
Energias de Portugal, SA ADR | ADR | 268353109 | 1,721 | 44,315 | SH | | SOLE | | 44,315 | 0 | 0 |
Enerplus Resources Fund Trust | COM | 292766102 | 1,580 | 164,598 | SH | | SOLE | | 164,598 | 0 | 0 |
Enterprise Products Partners L | UNIT LTD PARTN | 293792107 | 9,816 | 271,750 | SH | | SOLE | | 271,750 | 0 | 0 |
Ferrellgas Partners LP | UNIT LTD PARTN | 315293100 | 2,000 | 90,985 | SH | | SOLE | | 90,985 | 0 | 0 |
Gaztransport et Technigaz SAS | COM | BJYRDP5 | 2,388 | 40,350 | SH | | SOLE | | 40,350 | 0 | 0 |
Genworth MI Canada Inc. | COM | 37252B953 | 1,948 | 61,020 | SH | | SOLE | | 61,020 | 0 | 0 |
Gladstone Commerical Corp. | COM | 376536108 | 1,708 | 99,462 | SH | | SOLE | | 99,462 | 0 | 0 |
GlaxoSmithKline PLC ADR | ADR | 37733W105 | 2,617 | 61,225 | SH | | SOLE | | 61,225 | 0 | 0 |
Global Partners LP | UNIT LTD PARTN | 37946R109 | 2,860 | 86,680 | SH | | SOLE | | 86,680 | 0 | 0 |
Grupo Aeroportuario Del Pacifi | ADR | 400506101 | 2,760 | 43,678 | SH | | SOLE | | 43,678 | 0 | 0 |
H&R REIT | COM | 404428203 | 1,569 | 83,645 | SH | | SOLE | | 83,645 | 0 | 0 |
Hatteras Financial Corp | COM | 41902R103 | 783 | 42,460 | SH | | SOLE | | 42,460 | 0 | 0 |
Kinder Morgan, Inc. | COM | 49456B101 | 12,739 | 301,095 | SH | | SOLE | | 301,095 | 0 | 0 |
Martin Midstream Partners LP | UNIT LTD PARTN | 573331105 | 3,875 | 144,175 | SH | | SOLE | | 144,175 | 0 | 0 |
Monmouth Real Estate Investmen | COM | 609720107 | 5,158 | 465,944 | SH | | SOLE | | 465,944 | 0 | 0 |
National Grid PLC ADS | ADR | 636274300 | 3,845 | 54,409 | SH | | SOLE | | 54,409 | 0 | 0 |
ONE Gas, Inc. | COM | 68235P108 | 3,662 | 88,838 | SH | | SOLE | | 88,838 | 0 | 0 |
Oneok Inc. | COM | 682680103 | 2,613 | 52,483 | SH | | SOLE | | 52,483 | 0 | 0 |
Oneok Partners LP | UNIT LTD PARTN | 68268N103 | 6,857 | 173,030 | SH | | SOLE | | 173,030 | 0 | 0 |
Partners REIT | COM | 70214B977 | 642 | 202,756 | SH | | SOLE | | 202,756 | 0 | 0 |
Pengrowth Energy Trust | COM | 70706P104 | 819 | 263,250 | SH | | SOLE | | 263,250 | 0 | 0 |
Phillips 66 Partners LP | UNIT LTD PARTN | 718549207 | 2,151 | 31,210 | SH | | SOLE | | 31,210 | 0 | 0 |
Plains All American Pipeline L | UNIT LTD PARTN | 726503105 | 8,756 | 170,610 | SH | | SOLE | | 170,610 | 0 | 0 |
Precinct Properties New Zealan | COM | 609327903 | 1,470 | 1,580,600 | SH | | SOLE | | 1,580,600 | 0 | 0 |
Qiwi PLC | COM | 74735M108 | 699 | 34,645 | SH | | SOLE | | 34,645 | 0 | 0 |
Realty Income Corp. | COM | 756109104 | 4,938 | 103,505 | SH | | SOLE | | 103,505 | 0 | 0 |
Sasol Ltd. ADR | ADR | 803866300 | 2,099 | 55,280 | SH | | SOLE | | 55,280 | 0 | 0 |
Sempra Energy | COM | 816851109 | 5,403 | 48,515 | SH | | SOLE | | 48,515 | 0 | 0 |
Suburban Propane Partners LP | UNIT LTD PARTN | 864482104 | 5,917 | 136,864 | SH | | SOLE | | 136,864 | 0 | 0 |
Sunoco Logistic Partners LP | UNIT LTD PARTN | 86764L108 | 8,268 | 197,892 | SH | | SOLE | | 197,892 | 0 | 0 |
TC Pipelines LP | UNIT LTD PARTN | 87233Q108 | 11,474 | 161,102 | SH | | SOLE | | 161,102 | 0 | 0 |
Teekay LNG Partners LP | UNIT LTD PARTN | Y8564M105 | 2,064 | 48,002 | SH | | SOLE | | 48,002 | 0 | 0 |
Total SA ADR | ADR | 89151E109 | 2,151 | 42,004 | SH | | SOLE | | 42,004 | 0 | 0 |
USA Compression Partners | UNIT LTD PARTN | 90290N109 | 1,281 | 77,234 | SH | | SOLE | | 77,234 | 0 | 0 |
Urstadt Biddle Properties A | COM | 917286205 | 3,623 | 165,590 | SH | | SOLE | | 165,590 | 0 | 0 |
Verizon Communications Inc. | COM | 92343V104 | 2,702 | 57,770 | SH | | SOLE | | 57,770 | 0 | 0 |
Vermilion Energy Trust | COM | 923725956 | 2,313 | 47,002 | SH | | SOLE | | 47,002 | 0 | 0 |
Vodacom Group Ltd.ADR | ADR | 92858D200 | 577 | 52,660 | SH | | SOLE | | 52,660 | 0 | 0 |
Advent Software, Inc. | COM | 007974108 | 2,738 | 89,370 | SH | | SOLE | | 89,370 | 0 | 0 |
Air Products & Chemicals Inc. | COM | 009158106 | 2,871 | 19,904 | SH | | SOLE | | 19,904 | 0 | 0 |
Alibaba Group Holding LTD | COM | 01609W102 | 765 | 7,360 | SH | | SOLE | | 7,360 | 0 | 0 |
Anadarko Petroleum Corp. | COM | 032511107 | 6,143 | 74,465 | SH | | SOLE | | 74,465 | 0 | 0 |
Apple Inc. | COM | 037833100 | 5,159 | 46,736 | SH | | SOLE | | 46,736 | 0 | 0 |
Aptargroup, Inc. | COM | 038336103 | 7,094 | 106,127 | SH | | SOLE | | 106,127 | 0 | 0 |
Automatic Data Processing Inc. | COM | 053015103 | 8,875 | 106,450 | SH | | SOLE | | 106,450 | 0 | 0 |
Avery Dennison Corp. | COM | 053611109 | 6,868 | 132,380 | SH | | SOLE | | 132,380 | 0 | 0 |
Bank of Ireland ADR | ADR | 46267Q202 | 2,123 | 139,481 | SH | | SOLE | | 139,481 | 0 | 0 |
Bemis Co. Inc. | COM | 081437105 | 3,544 | 78,395 | SH | | SOLE | | 78,395 | 0 | 0 |
Best Buy Co. Inc. | COM | 086516101 | 1,335 | 34,250 | SH | | SOLE | | 34,250 | 0 | 0 |
C.R. Bard Inc. | COM | 067383109 | 5,536 | 33,225 | SH | | SOLE | | 33,225 | 0 | 0 |
CDK Global Holdings LLC | COM | 12508E101 | 1,764 | 43,272 | SH | | SOLE | | 43,272 | 0 | 0 |
Church & Dwight Co., Inc. | COM | 171340102 | 2,570 | 32,615 | SH | | SOLE | | 32,615 | 0 | 0 |
Colgate-Palmolive Co. | COM | 194162103 | 7,925 | 114,535 | SH | | SOLE | | 114,535 | 0 | 0 |
Comcast Corp. | COM | 20030N101 | 3,638 | 62,720 | SH | | SOLE | | 62,720 | 0 | 0 |
Credito Real Sofom ENR | COM | B8DST5905 | 734 | 342,077 | SH | | SOLE | | 342,077 | 0 | 0 |
Cummins Inc. | COM | 231021106 | 1,355 | 9,400 | SH | | SOLE | | 9,400 | 0 | 0 |
Ecolab, Inc. | COM | 278865100 | 1,787 | 17,095 | SH | | SOLE | | 17,095 | 0 | 0 |
Emerson Electric Co. | COM | 291011104 | 5,951 | 96,410 | SH | | SOLE | | 96,410 | 0 | 0 |
Exxon Mobil Corp. | COM | 30231G102 | 3,998 | 43,250 | SH | | SOLE | | 43,250 | 0 | 0 |
FNBH Bancorp Inc. | COM | 302528203 | 125 | 123,565 | SH | | SOLE | | 123,565 | 0 | 0 |
Fiserv Inc. | COM | 337738108 | 9,887 | 139,310 | SH | | SOLE | | 139,310 | 0 | 0 |
Generac Holdings Inc. | COM | 368736104 | 1,347 | 28,800 | SH | | SOLE | | 28,800 | 0 | 0 |
General Mills Inc. | COM | 370334104 | 9,544 | 178,964 | SH | | SOLE | | 178,964 | 0 | 0 |
Global Specialty Metals Inc. | COM | 37954N206 | 919 | 53,310 | SH | | SOLE | | 53,310 | 0 | 0 |
Graco, Inc. | COM | 384109104 | 7,168 | 89,405 | SH | | SOLE | | 89,405 | 0 | 0 |
Grainger, WW Inc. | COM | 384802104 | 8,368 | 32,830 | SH | | SOLE | | 32,830 | 0 | 0 |
Hasbro Inc. | COM | 418056107 | 251 | 4,570 | SH | | SOLE | | 4,570 | 0 | 0 |
Heineken NV ADR | ADR | 423012301 | 4,475 | 126,675 | SH | | SOLE | | 126,675 | 0 | 0 |
Hormel Foods Corp. | COM | 440452100 | 8,178 | 156,960 | SH | | SOLE | | 156,960 | 0 | 0 |
ITT Corp. | COM | 450911201 | 5,092 | 125,843 | SH | | SOLE | | 125,843 | 0 | 0 |
Imperial Oil Ltd. | COM | 453038408 | 1,272 | 29,565 | SH | | SOLE | | 29,565 | 0 | 0 |
Infosys Ltd. ADR | ADR | 456788108 | 2,337 | 74,280 | SH | | SOLE | | 74,280 | 0 | 0 |
Ingredion Inc. | COM | 457187102 | 7,214 | 85,030 | SH | | SOLE | | 85,030 | 0 | 0 |
Jacobs Engineering Group | COM | 469814107 | 2,697 | 60,343 | SH | | SOLE | | 60,343 | 0 | 0 |
John Wiley & Sons Inc. A | COM | 968223206 | 2,597 | 43,835 | SH | | SOLE | | 43,835 | 0 | 0 |
Johnson & Johnson | COM | 478160104 | 1,712 | 16,375 | SH | | SOLE | | 16,375 | 0 | 0 |
Johnson Controls Inc. | COM | 478366107 | 2,590 | 53,585 | SH | | SOLE | | 53,585 | 0 | 0 |
Kimberly-Clark Corp. | COM | 494368103 | 5,204 | 45,045 | SH | | SOLE | | 45,045 | 0 | 0 |
Lakeview Hotel Investment Co. | COM | 51222P950 | 43 | 85,300 | SH | | SOLE | | 85,300 | 0 | 0 |
Lakeview Hotel Investment Corp | COM | HCB8J36M0 | 37 | 73,900 | SH | | SOLE | | 73,900 | 0 | 0 |
Leggett & Platt Inc. | COM | 524660107 | 3,424 | 80,350 | SH | | SOLE | | 80,350 | 0 | 0 |
Lincoln Electric Holdings Inc. | COM | 533900106 | 5,139 | 74,385 | SH | | SOLE | | 74,385 | 0 | 0 |
Macy's, Inc. | COM | 55616P104 | 4,212 | 64,055 | SH | | SOLE | | 64,055 | 0 | 0 |
Marathon Oil Corp. | COM | 565849106 | 4,329 | 153,026 | SH | | SOLE | | 153,026 | 0 | 0 |
McCormick & Co. Inc. | COM | 579780206 | 5,651 | 76,050 | SH | | SOLE | | 76,050 | 0 | 0 |
McDonald's Corp. | COM | 580135101 | 8,446 | 90,140 | SH | | SOLE | | 90,140 | 0 | 0 |
Mechel Open Joint Stock Co. AD | ADR | 583840103 | 59 | 85,825 | SH | | SOLE | | 85,825 | 0 | 0 |
Metaldyne Performance Group, I | COM | 59116R107 | 434 | 25,000 | SH | | SOLE | | 25,000 | 0 | 0 |
Mettler-Toledo International, | COM | 592688105 | 8,974 | 29,670 | SH | | SOLE | | 29,670 | 0 | 0 |
Microchip Technology Inc. | COM | 595017104 | 3,627 | 80,400 | SH | | SOLE | | 80,400 | 0 | 0 |
Molina Healthcare Inc. | COM | 60855R100 | 4,074 | 76,100 | SH | | SOLE | | 76,100 | 0 | 0 |
Myriad Genetics Inc. | COM | 62855J104 | 1,546 | 45,390 | SH | | SOLE | | 45,390 | 0 | 0 |
NXP Semiconductors NV | COM | N6596X109 | 1,170 | 15,310 | SH | | SOLE | | 15,310 | 0 | 0 |
Norfolk & Southern Corp. | COM | 655844108 | 8,386 | 76,505 | SH | | SOLE | | 76,505 | 0 | 0 |
Novartis AG ADR | ADR | 66987V109 | 6,984 | 75,375 | SH | | SOLE | | 75,375 | 0 | 0 |
Novolipetsk GDR | COM | 67011E204 | 909 | 79,165 | SH | | SOLE | | 79,165 | 0 | 0 |
Occidental Petroleum Corp. | COM | 674599105 | 1,739 | 21,570 | SH | | SOLE | | 21,570 | 0 | 0 |
Omnicom Group | COM | 681919106 | 7,480 | 96,553 | SH | | SOLE | | 96,553 | 0 | 0 |
OpenText Corp. | COM | 683715106 | 3,901 | 66,950 | SH | | SOLE | | 66,950 | 0 | 0 |
Parker Hannifin Corp. | COM | 701094104 | 9,248 | 71,721 | SH | | SOLE | | 71,721 | 0 | 0 |
Paychex, Inc. | COM | 704326107 | 6,541 | 141,665 | SH | | SOLE | | 141,665 | 0 | 0 |
Praxair, Inc. | COM | 74005P104 | 3,877 | 29,924 | SH | | SOLE | | 29,924 | 0 | 0 |
Prosperity Bancshares Inc. | COM | 743606105 | 6,977 | 126,030 | SH | | SOLE | | 126,030 | 0 | 0 |
Reckitt Benckiser PLC | COM | B24CGK904 | 580 | 7,140 | SH | | SOLE | | 7,140 | 0 | 0 |
Rostelecom Long Distance ADR | ADR | 778529107 | 305 | 33,580 | SH | | SOLE | | 33,580 | 0 | 0 |
Sally Beauty Holdings Inc. | COM | 79546E104 | 2,310 | 75,141 | SH | | SOLE | | 75,141 | 0 | 0 |
Schneider Electric SA | COM | 483410007 | 4,941 | 67,370 | SH | | SOLE | | 67,370 | 0 | 0 |
Sherwin-Williams Co. | COM | 824348106 | 8,916 | 33,895 | SH | | SOLE | | 33,895 | 0 | 0 |
Shire PLC | COM | 82481R106 | 894 | 4,205 | SH | | SOLE | | 4,205 | 0 | 0 |
Sirona Dental Systems Inc. | COM | 82966C103 | 832 | 9,520 | SH | | SOLE | | 9,520 | 0 | 0 |
Smith & Nephew PLC | COM | 83175M205 | 2,034 | 55,361 | SH | | SOLE | | 55,361 | 0 | 0 |
Sonoco Products Co. | COM | 835495102 | 5,374 | 122,985 | SH | | SOLE | | 122,985 | 0 | 0 |
Spectral Medical Inc. | COM | 847574100 | 6 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
Sunstone Hotel Investors Inc. | COM | 867892101 | 237 | 14,340 | SH | | SOLE | | 14,340 | 0 | 0 |
Synchrony Financial | COM | 87165B103 | 796 | 26,770 | SH | | SOLE | | 26,770 | 0 | 0 |
The Clorox Co. | COM | 189054109 | 2,800 | 26,870 | SH | | SOLE | | 26,870 | 0 | 0 |
Thermon Group Holdings, Inc. | COM | 88362T103 | 1,376 | 56,863 | SH | | SOLE | | 56,863 | 0 | 0 |
Toronto Dominion Bank | COM | 891160509 | 6,834 | 143,030 | SH | | SOLE | | 143,030 | 0 | 0 |
US Physical Therapy Inc. | COM | 90337L108 | 3,852 | 91,791 | SH | | SOLE | | 91,791 | 0 | 0 |
Xylem, Inc. | COM | 98419M100 | 3,246 | 85,275 | SH | | SOLE | | 85,275 | 0 | 0 |
Yandex NV | COM | N97284108 | 813 | 45,240 | SH | | SOLE | | 45,240 | 0 | 0 |