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
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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
ASML Holdin NV NY Reg Shs COM N07059210 91 700 SH   SOLE   700 0 0
AT&T Corp.(New) COM 00206r102 526 13,930 SH   SOLE   12,280 0 1,650
Abbvie, Inc. COM 00287Y109 851 11,735 SH   SOLE   11,735 0 0
Alliance Bernstein Holdings COM 01881G106 38 1,590 SH   SOLE   0 0 1,590
Anheuser-Busch Inbev N.V. COM 03524A108 609 5,520 SH   SOLE   5,520 0 0
Ares Capital Corp COM 04010L103 531 32,431 SH   SOLE   30,011 0 2,420
Ascendas Real Estate COM y0205x103 8 4,000 SH   SOLE   0 0 4,000
BAE Systems COM g06940103 39 4,733 SH   SOLE   0 0 4,733
BAE Systems COM 05523r107 500 14,900 SH   SOLE   14,900 0 0
BCE Inc COM 05534B760 60 1,340 SH   SOLE   0 0 1,340
Baidu, Inc. COM 056752108 75 420 SH   SOLE   420 0 0
Bank of Montreal COM 063671101 71 970 SH   SOLE   0 0 970
Blackstone Group LP COM 09253U108 1,326 39,755 SH   SOLE   38,310 0 1,445
Blackstone Mortgage Trust Inc COM 09257w100 1,355 42,872 SH   SOLE   40,420 0 2,452
Brookfield Infrastructure Part COM g16252101 1,028 25,132 SH   SOLE   23,276 0 1,856
CME Group Inc COM 12572Q105 715 5,710 SH   SOLE   5,710 0 0
Camden Property Trust COM 133131102 64 750 SH   SOLE   0 0 750
China Mobile LTD COM 16941m109 36 680 SH   SOLE   0 0 680
Colony Northstar, Inc. COM 19625W104 554 39,285 SH   SOLE   35,195 0 4,090
Costamare, Inc. COM Y1771G102 408 55,840 SH   SOLE   55,840 0 0
Cummins Inc. COM 231021106 507 3,125 SH   SOLE   3,125 0 0
Daimler AG COM d1668r123 36 490 SH   SOLE   0 0 490
Dow Chemical COM 260543103 696 11,040 SH   SOLE   11,040 0 0
EPR Properties COM 26884U109 57 790 SH   SOLE   0 0 790
Exxon Mobil Corporation COM 30231G102 95 1,180 SH   SOLE   850 0 330
Ferrari N.V. COM N3167Y103 135 1,570 SH   SOLE   1,570 0 0
HDFC Bank Ltd COM 40415F101 158 1,820 SH   SOLE   1,820 0 0
HSBC Holdings PLC COM 404280406 429 9,260 SH   SOLE   9,260 0 0
Intel Corp. COM 458140100 607 17,990 SH   SOLE   17,990 0 0
JPMorgan Chase & Co. COM 46625H100 898 9,830 SH   SOLE   9,830 0 0
Japan Airlines Co ADR COM 471038109 49 3,190 SH   SOLE   0 0 3,190
Johnson & Johnson COM 478160104 91 690 SH   SOLE   0 0 690
Las Vegas Sands Corp COM 517834107 774 12,110 SH   SOLE   12,110 0 0
Liberty Global Inc COM g5480u104 112 3,500 SH   SOLE   3,500 0 0
Liberty Global PLC Lilac (A) COM G5480U138 48 2,211 SH   SOLE   2,211 0 0
Lukoil Oil Co COM 69343p105 124 2,550 SH   SOLE   2,550 0 0
Lyondellbasell Inds NV COM n53745100 405 4,795 SH   SOLE   4,335 0 460
Marine Harvest ASA COM 56824R205 88 5,150 SH   SOLE   0 0 5,150
Microsoft Corp. COM 594918104 1,370 19,880 SH   SOLE   19,240 0 640
Muenchener Rueck ADR COM 626188106 68 3,370 SH   SOLE   0 0 3,370
Nestles ADR COM 641069406 180 2,065 SH   SOLE   2,065 0 0
PACCAR Inc. COM 693718108 617 9,350 SH   SOLE   9,350 0 0
PJT Partners Inc COM 69343T107 1 34 SH   SOLE   0 0 34
Paychex Inc. COM 704326107 456 8,010 SH   SOLE   7,480 0 530
RMR Group, Inc. COM 74967R106 2 43 SH   SOLE   0 0 43
Regal Entertainment Group COM 758766109 337 16,456 SH   SOLE   11,877 0 4,579
Reynolds American Inc COM 761713106 49 760 SH   SOLE   0 0 760
Royal Bank of Canada COM 780087102 62 860 SH   SOLE   0 0 860
Sap Aktiengesell COM 803054204 220 2,098 SH   SOLE   2,098 0 0
Select Income REIT COM 81618t100 30 1,250 SH   SOLE   0 0 1,250
Ship Finance Intl Ltd COM g81075106 47 3,500 SH   SOLE   0 0 3,500
Spirit Realty Capital Inc New COM 84860w102 22 3,020 SH   SOLE   0 0 3,020
Starwood Property Trust Inc COM 85571b105 854 38,131 SH   SOLE   34,789 0 3,342
Store Capital Corp COM 862121100 60 2,680 SH   SOLE   0 0 2,680
Swedbank AB COM 870195104 44 1,800 SH   SOLE   0 0 1,800
Swiss RE Ltd COM 870886108 29 1,250 SH   SOLE   0 0 1,250
TC Pipelines LP COM 87233q108 44 805 SH   SOLE   0 0 805
Taiwan Semi ADR COM 874039100 880 25,175 SH   SOLE   23,895 0 1,280
Unilever ADR COM 904784709 96 1,730 SH   SOLE   1,730 0 0
Wal-Mart De Mexico COM 93114W107 50 2,150 SH   SOLE   0 0 2,150
Welltower Inc. COM 95040Q104 882 11,785 SH   SOLE   10,970 0 815
Wisdomtree International High COM 97717W802 110 2,630 SH   SOLE   0 0 2,630
Wisdontree High Dividend Fund COM 97717W208 115 1,680 SH   SOLE   0 0 1,680
BCE Inc SEDOL B188TH2 COM 05534B760 498 11,052 SH   SOLE   11,052 0 0
Bank of Montreal SEDOL 2076009 COM 063671101 263 3,580 SH   SOLE   3,580 0 0
Goldman Sachs Group Inc. 4.000 COM 38141G104 363 15,380 SH   SOLE   15,380 0 0