13F-HR 1 September201213ftable.txt SEPTEMBE 2012 13F 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Alerian MLP COM 00162Q866 1036 62510 SH SOLE 62510 DCP Midstream Partners, LP COM 23311P100 1434 30880 SH SOLE 30880 Enbridge Energy Mgmt. COM 29250x103 1013 31983 SH SOLE 31983 Energy Transfer Equity LP COM 29273V100 1127 24930 SH SOLE 24930 Enterprise Prod Partners COM 293792107 2545 47475 SH SOLE 47475 Magellan Midstream Partners, L COM 559080106 2111 24136 SH SOLE 24136 Northstar Realty Finance Corp. COM 66704r100 1496 235150 SH SOLE 235150 Oneok Inc. COM 682680103 1344 27830 SH SOLE 27830 Plains All American Pipeline L COM 726503105 1512 17138 SH SOLE 17138 Resource Capital COM 76120W302 689 117207 SH SOLE 117207 Teekay Corp. COM y8564w103 1304 41780 SH SOLE 41780 Teekay Offshore Partners, L.P. COM y8565j101 978 35560 SH SOLE 35560 Two Harbors Investment Corp. COM 90187B101 1436 122230 SH SOLE 122230 Abbott Laboratories COM 002824100 1569 22880 SH SOLE 22880 Allergan Inc. COM 018490102 1589 17350 SH SOLE 17350 American Intl. Group COM 026874784 1138 34720 SH SOLE 34720 Anheuser-Busch InBev COM b5064a925 1099 12920 SH SOLE 12920 Anheuser-Busch Inbev ADR COM 03524A108 1674 19490 SH SOLE 19490 Apple Computer COM 037833100 3409 5110 SH SOLE 5110 AutoZone COM 053332102 832 2250 SH SOLE 2250 Bancorp Inc COM 05969a105 800 77863 SH SOLE 77863 CVS/Caremark COM 126650100 1604 33130 SH SOLE 33130 Cash America International, In COM 14754d100 248 6430 SH SOLE 6430 Citigroup COM 172967424 933 28520 SH SOLE 28520 Coca Cola Co. COM 191216100 1560 41140 SH SOLE 41140 Crown Holdings Inc . COM 228368106 942 25640 SH SOLE 25640 Dollar General COM 256677105 622 12070 SH SOLE 12070 Google COM 38259P508 792 1050 SH SOLE 1050 IBM COM 459200101 1776 8560 SH SOLE 8560 Johnson & Johnson COM 478160104 2227 32320 SH SOLE 32320 Kraft Foods COM 50075N104 833 20150 SH SOLE 20150 MasterCard Inc. COM 57636q104 826 1830 SH SOLE 1830 McCormick & Co. COM 579780206 681 10970 SH SOLE 10970 Nestle Spons ADR COM 641069406 1821 28855 SH SOLE 28855 PNC Bank Corp. COM 693475105 1330 21070 SH SOLE 21070 Philip Morris COM 718172109 1076 11960 SH SOLE 11960 Resource America COM 761195205 188 27439 SH SOLE 27439 Roche Holding AG COM 771195104 622 13310 SH SOLE 13310 Tronox Inc. COM Q9235V101 324 14295 SH SOLE 14295 Visa COM 92826c839 1033 7690 SH SOLE 7690 Wal-Mart Stores COM 931142103 302 4090 SH SOLE 4090 Walt Disney COM 254687106 315 6030 SH SOLE 6030 Wells Fargo COM 949746101 1169 33860 SH SOLE 33860 Resource America Warrants rexiwarra 456 229412 SH SOLE 229412 Telligent Greater China Fund L 512 500000 SH SOLE 500000 Telligent Greater China Fund, 769 750000 SH SOLE 750000