13F-HR 1 june13f08.txt JUNE 2008 13F-HR FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Alliance Holdings GP L.P. COM 01861g100 1632 54750 SH SOLE 54750 AllianceBernstein Holdings, LP COM 01881g106 1623 29680 SH SOLE 29680 Duke Realty COM 264411505 242 10780 SH SOLE 10780 Enbridge Energy Mgmt. COM 29250x103 630 12324 SH SOLE 12324 Enbridge Energy Partners L.P. COM 29250R106 712 14148 SH SOLE 14148 Enterprise Prod Partners COM 293792107 1357 45949 SH SOLE 45949 FPL Group Inc. COM 302571104 576 8790 SH SOLE 8790 Inergy Holdings LP COM 45661Q107 444 12376 SH SOLE 12376 Kinder Morgan Energy Partners COM 494550106 414 7430 SH SOLE 7430 Kinder Morgan Mgmt COM 49455u100 832 15449 SH SOLE 15449 Magellan Midstream Partners, L COM 559080106 480 13480 SH SOLE 13480 MarkWest Energy Partners LP COM 570759100 460 12920 SH SOLE 12920 Nustar GP Holdings LLC COM 67059l102 386 17810 SH SOLE 17810 Plains All American Pipeline L COM 726503105 1345 29818 SH SOLE 29818 Resource Capital COM 76120W302 653 90540 SH SOLE 90540 Teppco Partners LP COM 872384102 764 23010 SH SOLE 23010 ABB Ltd. COM 000375204 526 18570 SH SOLE 18570 AFLAC Incorporated COM 001055102 641 10200 SH SOLE 10200 Alcon, Inc. COM H01301102 931 5720 SH SOLE 5720 American Express COM 025816109 236 6267 SH SOLE 6267 Anadarko Petroleum COM 032511107 331 4420 SH SOLE 4420 Arch Capital Group COM g0450a105 268 4040 SH SOLE 4040 Assured Guaranty Ltd. COM g0585r106 258 14330 SH SOLE 14330 Atlas America, Inc. COM 049167109 1341 29763 SH SOLE 29763 Automatic Data Processing COM 053015103 1089 26000 SH SOLE 26000 BP Amoco ADR COM 055622104 1131 16250 SH SOLE 16250 Bancorp Inc COM 05969a105 252 33120 SH SOLE 33120 CVS/Caremark COM 126650100 2128 53780 SH SOLE 53780 Chesapeake Energy Corp. COM 165167107 2282 34590 SH SOLE 34590 Coca Cola Co. COM 191216100 1574 30290 SH SOLE 30290 Colgate Palmolive COM 194162103 1642 23766 SH SOLE 23766 Emerson Electric Co. COM 291011104 527 10660 SH SOLE 10660 General Cable Corp. COM 369300108 232 3810 SH SOLE 3810 General Electric COM 369604103 256 9600 SH SOLE 9600 Google COM 38259P508 314 596 SH SOLE 596 Investors Bancorp Inc COM 46146p102 279 21340 SH SOLE 21340 Jacobs Engineering Group COM 469814107 283 3510 SH SOLE 3510 Kaydon Corp. COM 486587108 534 10380 SH SOLE 10380 Moog Inc. COM 615394202 503 13500 SH SOLE 13500 Nestle Spons ADR COM 641069406 2476 21890 SH SOLE 21890 Oracle COM 68389X105 560 26680 SH SOLE 26680 Pepsico COM 713448108 1580 24850 SH SOLE 24850 Procter & Gamble COM 742718109 1586 26080 SH SOLE 26080 Resource America COM 761195205 256 27439 SH SOLE 27439 SEI Investments Co. COM 784117103 332 14100 SH SOLE 14100 Schlumberger COM 806857108 1992 18540 SH SOLE 18540 Thermo Fisher Scientific COM 883556102 1361 24420 SH SOLE 24420 Total SA COM 89151e109 1160 13600 SH SOLE 13600 Transocean COM g90073100 593 3890 SH SOLE 3890 United Technologies COM 913017109 258 4180 SH SOLE 4180 Weatherford International Ltd. COM g95089101 686 13840 SH SOLE 13840 Resource Capital Corp. 192 26667 SH SOLE 26667 The Bancorp.com, Inc. 05969a105 341 44743 SH SOLE 44743