13F-HR 1 dec13f08.txt DEC 2008 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 544 36730 SH SOLE 36730 DCP Midstream Partners, LP COM 23311P100 361 38380 SH SOLE 38380 Enbridge Energy Mgmt. COM 29250x103 329 13461 SH SOLE 13461 Energy Trasfer Equity LP COM 29273V100 846 52190 SH SOLE 52190 Enterprise GP Holdings LP COM 293716106 612 35140 SH SOLE 35140 Enterprise Prod Partners COM 293792107 768 37029 SH SOLE 37029 FPL Group Inc. COM 302571104 814 16180 SH SOLE 16180 Inergy Holdings LP COM 45661Q107 357 16456 SH SOLE 16456 Kinder Morgan Mgmt COM 49455u100 722 18050 SH SOLE 18050 Magellan Midstream Holdings, L COM 55907R108 997 71890 SH SOLE 71890 Plains All American Pipeline L COM 726503105 1246 35928 SH SOLE 35928 Resource Capital COM 76120W302 347 90540 SH SOLE 90540 ABB Ltd. COM 000375204 394 26220 SH SOLE 26220 Abbott Laboratories COM 002824100 1048 19630 SH SOLE 19630 Alcon, Inc. COM H01301102 448 5020 SH SOLE 5020 Anheuser-Busch InBev NV COM 4755317 569 24470 SH SOLE 24470 Automatic Data Processing COM 053015103 434 11020 SH SOLE 11020 Bancorp Inc COM 05969a105 124 33120 SH SOLE 33120 CVS/Caremark COM 126650100 410 14270 SH SOLE 14270 Coca Cola Co. COM 191216100 575 12710 SH SOLE 12710 Colgate Palmolive COM 194162103 1146 16726 SH SOLE 16726 Crown Holdings Inc . COM 228368106 442 23040 SH SOLE 23040 Equitable Resources Inc. COM 294549100 647 19290 SH SOLE 19290 Moog Inc. COM 615394202 221 6040 SH SOLE 6040 Nestle Spons ADR COM 641069406 1764 45135 SH SOLE 45135 Pepsico COM 713448108 642 11730 SH SOLE 11730 Procter & Gamble COM 742718109 972 15720 SH SOLE 15720 Resource America COM 761195205 110 27439 SH SOLE 27439 Thermo Fisher Scientific COM 883556102 311 9140 SH SOLE 9140 Xinhua China 25 Index Fund COM 464287184 489 16810 SH SOLE 16810 iShr MSCI Emerg Mkts ET COM 464287234 491 19680 SH SOLE 19680 Resource Capital Corp. 76120W302 102 26667 SH SOLE 26667 The Bancorp.com, Inc. 05969a105 168 44743 SH SOLE 44743