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
3M COMPANY COM 88579Y101 4,797 43,865 SH   SOLE   0 0 43,865
ABBOTT LABS COM COM 2824100 5,002 143,420 SH   SOLE   0 0 143,420
ABBVIE INC. COM 00287Y109 5,395 130,510 SH   SOLE   200 0 130,310
ACCESS MIDSTREAM COM 00434L109 1,006 21,100 SH   SOLE   150 0 20,800
ALTRIA GROUP INC COM 02209S103 4,814 137,589 SH   SOLE   0 0 137,589
AMER INT'L GROUP COM 26874784 6,135 137,250 SH   SOLE   0 0 137,100
AMERICAN CAMPUS COM 24835100 756 18,600 SH   SOLE   0 0 18,600
AMERICAN EXPRESS COM 25816109 1,864 24,935 SH   SOLE   0 0 24,935
ANADARKO PETRO COM 32511107 748 8,700 SH   SOLE   0 0 8,600
APACHE CORP COM 37411105 1,161 13,850 SH   SOLE   0 0 13,850
APOLLO INVESTMENT COM 03761U106 77 10,000 SH   SOLE   0 0 10,000
APPLE COMPUTER COM 37833100 2,883 7,270 SH   SOLE   0 0 7,270
APPLIED MATERIALS COM 38222105 4,881 327,140 SH   SOLE   0 0 327,140
AT&T COM 00206r102 3,962 111,926 SH   SOLE   0 0 111,926
ATLAS PIPELINE PTNRS COM 49392103 295 7,722 SH   SOLE   0 0 7,722
AVALONBAY COM 53484101 558 4,135 SH   SOLE   0 0 4,135
BANK OF AMERICA COM 60505104 9,474 736,721 SH   SOLE   600 0 735,121
BLACKSTONE GROUP LP COM 09253u108 3,689 175,150 SH   SOLE   0 0 175,150
BRISTOL-MYERS COM 110122108 5,136 114,915 SH   SOLE   0 0 114,665
CAMDEN PROPERTY TR COM 133131102 608 8,800 SH   SOLE   0 0 8,800
CATERPILLAR COM 149123101 3,771 45,710 SH   SOLE   0 0 45,710
CBL & ASSOCIATES COM 124830100 295 13,755 SH   SOLE   0 0 13,755
CHEVRON CORP COM 166764100 4,705 39,762 SH   SOLE   0 0 39,762
CISCO SYSTEMS INC COM 17275R102 524 21,536 SH   SOLE   0 0 21,536
CITIGROUP INC COM 172967101 6,054 126,200 SH   SOLE   0 0 126,200
CLOROX COMPANY COM 189054109 499 6,000 SH   SOLE   0 0 6,000
COMM BK BAY OAKLAND CA COM 203485107 118 30,000 SH   SOLE   0 0 30,000
CONAGRA COM 205887102 4,082 116,865 SH   SOLE   0 0 116,865
CONOCOPHILLIPS COM 20825c104 3,958 65,419 SH   SOLE   0 0 65,419
CUMMINS INC COM 231021106 265 2,445 SH   SOLE   0 0 2,445
DEERE & CO COM 244199105 2,527 31,100 SH   SOLE   0 0 31,100
DENBURY RESOURCES COM 247916208 973 56,150 SH   SOLE   0 0 56,150
DEUTSCHE TELEKOM COM 251566105 324 27,775 SH   SOLE   0 0 27,375
DEVON ENERGY COM 25179m103 358 6,900 SH   SOLE   0 0 6,900
DIANA SHIPPING INC. COM Y2066G104 219 21,800 SH   SOLE   0 0 21,800
DIGITAL REALTY TR COM 253868103 945 15,500 SH   SOLE   0 0 15,500
DOW CHEMICAL COM 260543103 3,921 121,870 SH   SOLE   0 0 121,870
DU PONT EI DE NMRS COM 263534109 5,050 96,187 SH   SOLE   0 0 96,087
DUNKIN' BRANDS COM 265504100 786 18,350 SH   SOLE   100 0 18,250
EMERSON ELECTRIC COM 291011104 2,258 41,400 SH   SOLE   0 0 41,400
ENBRIDGE ENERGY COM 29250R106 390 12,800 SH   SOLE   0 0 12,600
ENERGY TRANSFER COM 29273R109 2,535 50,155 SH   SOLE   0 0 50,005
ENERGY TRANSFER EQU COM 29273v100 2,602 43,500 SH   SOLE   0 0 43,500
ENTERPRISE PRODS COM 293792107 6,604 106,263 SH   SOLE   0 0 106,163
EQT MIDSTREAM PRTNS COM 26885B100 315 6,450 SH   SOLE   150 0 6,300
EXPRESS SCRIPTS INC COM 302182100 1,861 30,150 SH   SOLE   100 0 30,050
EXXON MOBIL CORP COM 30231G102 3,917 43,350 SH   SOLE   0 0 43,350
FACEBOOK, INC. COM 30303M102 1,425 57,265 SH   SOLE   0 0 57,265
FIRST REPUBLIC BANK COM 33616C100 4,002 104,000 SH   SOLE   0 0 104,000
FLOWERS FOODS COM 343498101 992 45,000 SH   SOLE   0 0 45,000
FORD MOTOR CO COM 349862300 7,891 510,105 SH   SOLE   0 0 509,605
FRANKLIN RES COM 354613101 490 3,600 SH   SOLE   0 0 3,600
GAP INC COM 364760108 1,139 27,300 SH   SOLE   0 0 27,300
GENERAL ELECTRIC COM 369604103 8,562 369,220 SH   SOLE   0 0 368,720
GENERAL MILLS INC COM 370334104 3,024 62,314 SH   SOLE   0 0 62,164
GLAXOSMITHKILINE COM 37733W105 7,222 144,525 SH   SOLE   0 0 144,325
GOOGLE INC COM 38259p508 207 235 SH   SOLE   0 0 235
HALLIBURTON CO COM 406216101 609 14,600 SH   SOLE   0 0 14,600
HARTFORD FINANCIAL COM 416515104 3,302 106,801 SH   SOLE   0 0 106,301
HCP, INC. COM 40414L109 3,768 82,925 SH   SOLE   0 0 82,925
HESS CORPORATION COM 42809H107 309 4,650 SH   SOLE   0 0 4,650
HEWLETT-PACKARD CO COM 428236103 635 25,600 SH   SOLE   0 0 25,600
HOLLY ENERGY COM 435763107 403 10,600 SH   SOLE   0 0 10,600
HOME DEPOT INC COM 437076102 4,750 61,309 SH   SOLE   0 0 61,309
HONEYWELL INT'L INC COM 438516106 4,573 57,644 SH   SOLE   0 0 57,644
IBM CORPORATION COM 459200101 2,184 11,427 SH   SOLE   0 0 11,427
INGREDION COM 457187102 909 13,853 SH   SOLE   0 0 13,853
INTEL CORPORATION COM 458140100 2,845 117,400 SH   SOLE   0 0 117,400
INTL PAPER COM 460146103 4,573 103,194 SH   SOLE   0 0 102,994
JOHNSON & JOHNSON COM 478160104 5,552 64,667 SH   SOLE   0 0 64,667
JP MORGAN CHASE COM 46625H100 4,870 92,250 SH   SOLE   100 0 91,950
KELLOGG CO COM 487836108 2,646 41,200 SH   SOLE   0 0 41,200
KEYCORP COM 493267108 149 13,500 SH   SOLE   0 0 13,000
KIMCO REALTY CORP COM 49446R109 647 30,204 SH   SOLE   0 0 30,204
KINDER MORGAN INC. COM 49456B101 807 21,150 SH   SOLE   0 0 21,150
KOHLBERG KRAVIS COM 48248M102 3,146 160,000 SH   SOLE   0 0 160,000
KRAFT FOOD GROUP COM 50076Q106 5,107 91,415 SH   SOLE   0 0 91,415
LAM RESEARCH CORP COM 512807108 479 10,800 SH   SOLE   0 0 10,800
LEGACY RESERVES LP COM 524707304 524 19,703 SH   SOLE   0 0 19,503
LILLY, ELI & CO COM 532457108 3,209 65,325 SH   SOLE   0 0 65,325
LINN ENERGY LLC COM 536020100 3,509 105,768 SH   SOLE   150 0 105,418
LOCKHEED MARTIN COM 539830109 4,262 39,295 SH   SOLE   0 0 39,295
MACERICH CO COM 554382101 576 9,453 SH   SOLE   0 0 9,453
MAGELLAN COM 559080106 668 12,250 SH   SOLE   0 0 12,250
MARKWEST ENERGY COM 570759100 3,701 55,360 SH   SOLE   0 0 55,210
MEDICAL PROPERTIES COM 58463J304 487 34,025 SH   SOLE   400 0 33,625
MERCK & CO INC COM 589331107 4,840 104,202 SH   SOLE   0 0 104,002
MICROSOFT CORP COM 594918104 2,591 75,000 SH   SOLE   0 0 75,000
MONDELEZ INTL COM 609207105 919 32,200 SH   SOLE   200 0 32,000
MONSANTO COM 61166w101 2,233 22,600 SH   SOLE   0 0 22,600
MORGAN STANLEY COM 617446448 3,406 139,400 SH   SOLE   0 0 139,400
NESTLE SA COM 641069406 2,875 43,700 SH   SOLE   0 0 43,700
NUCOR CORP COM 670346105 3,312 76,457 SH   SOLE   0 0 76,307
OCCIDENTAL PETROL COM 674599105 829 9,292 SH   SOLE   0 0 9,142
ONEOK PARTNERS LP COM 68268n103 260 5,250 SH   SOLE   0 0 5,150
ORACLE CORP COM 68389X105 790 25,711 SH   SOLE   0 0 25,711
PEPSICO INC COM 713448108 5,917 72,340 SH   SOLE   0 0 72,240
PFIZER INC COM 717081103 5,669 202,400 SH   SOLE   0 0 202,100
PHILIP MORRIS INTL COM 718172109 3,137 36,220 SH   SOLE   0 0 36,220
PLAINS ALL AM COM 726503105 2,266 40,596 SH   SOLE   0 0 40,596
POTASH CORP COM 73755L107 324 8,500 SH   SOLE   0 0 8,500
POWERSHARES QQQ COM 73935A104 588 8,254 SH   SOLE   0 0 8,254
PROCTER & GAMBLE COM 742718109 18,837 244,674 SH   SOLE   0 0 244,574
PROLOGIS COM 74340W103 8,268 219,200 SH   SOLE   0 0 219,200
QUALCOMM INC COM 747525103 698 11,425 SH   SOLE   0 0 11,425
REGENCY CENTERS COM 758847103 325 6,400 SH   SOLE   0 0 6,400
REGENCY ENERGY COM 75885y107 274 10,147 SH   SOLE   0 0 10,147
REYNOLDS AMERICAN COM 761713106 4,358 90,092 SH   SOLE   0 0 89,942
ROBERT HALF INTL COM 770323103 2,160 65,000 SH   SOLE   0 0 65,000
SALESFORCE.COM COM 79466L302 397 10,406 SH   SOLE   0 0 10,406
SANOFI-AVENTIS COM 80105N105 5,090 98,817 SH   SOLE   0 0 98,717
SBA COMMUNICATIONS COM 78388J106 526 7,100 SH   SOLE   0 0 7,100
SCHLUMBERGER LTD COM 806857108 398 5,550 SH   SOLE   0 0 5,550
SCHWAB, CHARLES COM 808513105 483 22,749 SH   SOLE   0 0 22,749
SEADRILL LTD COM G7945E105 4,771 117,100 SH   SOLE   0 0 117,100
SENIOR HOUSING PROP COM 81721M109 1,392 53,695 SH   SOLE   0 0 53,395
SIMON PPTY GRP INC COM 828806109 635 4,020 SH   SOLE   0 0 4,020
STAN BLK & DECKER COM 854502101 970 12,550 SH   SOLE   0 0 12,550
TARGA CORP COM 87612G101 444 6,900 SH   SOLE   0 0 6,900
TARGA RESOURCES COM 87611x105 2,523 50,008 SH   SOLE   0 0 49,808
TAUBMAN CENTERS COM 876664103 225 3,000 SH   SOLE   0 0 3,000
TRANSCANADA CORP COM 89353D107 431 10,000 SH   SOLE   0 0 10,000
TRANSOCEAN INC COM H8817H100 619 12,900 SH   SOLE   0 0 12,900
TRAVELERS CO COM 89417E109 5,470 68,445 SH   SOLE   0 0 68,345
UNILEVER NV COM 904784709 2,182 55,500 SH   SOLE   0 0 55,500
UNION PACIFIC COM 907818108 4,131 26,775 SH   SOLE   0 0 26,775
UNITED TECH COM 913017109 3,848 41,403 SH   SOLE   0 0 41,403
VENTAS INC. COM 92276F100 764 11,000 SH   SOLE   0 0 11,000
VERIZON COMM COM 92343V104 4,219 83,801 SH   SOLE   0 0 83,801
VISA INC CL A COM 92826c839 3,009 16,466 SH   SOLE   0 0 16,466
VODAFONE GROUP PLC COM 92857w209 2,372 82,508 SH   SOLE   0 0 82,208
VORNADO RLTY COM 929042109 3,056 36,880 SH   SOLE   0 0 36,880
WAL-MART STORES COM 931142103 2,587 34,731 SH   SOLE   0 0 34,731
WALGREEN CO COM 931422109 557 12,600 SH   SOLE   0 0 12,600
WELLS FARGO & CO COM 949746101 7,495 181,616 SH   SOLE   200 0 181,416
WESTERN GAS COM 958254104 3,718 57,300 SH   SOLE   0 0 57,300
WEYERHAEUSER COM 984332106 4,016 140,950 SH   SOLE   0 0 140,650
WILLIAMS PARTNERS LP COM 96950f104 346 6,700 SH   SOLE   0 0 6,700
FINANCIAL SELECT COM 81369y605 280 14,425 SH   SOLE   0 0 14,425
INDSTLS SELECT SPDR COM 81369Y704 407 9,550 SH   SOLE   0 0 9,550
ISHARES RUSSELL 2000 COM 464287655 466 4,800 SH   SOLE   0 0 4,800
MATERIALS SLCT SPDR COM 81369Y100 290 7,565 SH   SOLE   0 0 7,565
NUVEEN CA QUALITY COM 670985100 216 14,000 SH   SOLE   0 0 14,000
PRSHRS ULTRSHRT COM 74347R313 2,449 83,000 SH   SOLE   0 0 83,000
SPDR DOW JONES IND COM 78467X109 442 2,975 SH   SOLE   0 0 2,975