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
AMERICAN EXPRESS COMPANY COM 25816109 479,173 6,409,487 SH   SOLE   6,409,487 0 0
AMERICAN ELECTRICAL POWER COM 25537101 20,496 457,712 SH   SOLE   457,712 0 0
APPLE INC COM 37833100 34,014 85,780 SH   SOLE   85,780 0 0
PINNACLE WEST CAPITAL COM 723484101 9,080 163,693 SH   SOLE   163,693 0 0
YUM BRANDS INC COM 988498101 498,017 7,182,254 SH   SOLE   7,182,254 0 0
CALIAFORNIA WATER SERVICE COM 130788102 1,396 71,534 SH   SOLE   71,534 0 0
CLECO CORPORATION COM 12561W105 3,852 82,960 SH   SOLE   82,960 0 0
CH ENERGY GROUP COM 12541M102 1,656 25,486 SH   SOLE   25,486 0 0
THE COCA COLA COMPANY COM 191216100 123,778 3,085,964 SH   SOLE   3,085,964 0 0
COLGATE PALMOLIVE COMPANY COM 194162103 146,270 2,553,151 SH   SOLE   2,553,151 0 0
CONSOLIDATED EDISON COM 209115104 24,265 416,132 SH   SOLE   416,132 0 0
CMS ENERGY CORPORATION COM 125896100 10,671 392,744 SH   SOLE   392,744 0 0
TARGET CORP COM 87612E110 454,824 6,605,059 SH   SOLE   6,605,059 0 0
AMERICAN STATES WATER COM 29899101 1,795 33,438 SH   SOLE   33,438 0 0
DTE ENERGY COMPANY COM 233331107 16,957 253,055 SH   SOLE   253,055 0 0
EBAY INC COM 278642103 562,283 10,871,682 SH   SOLE   10,871,682 0 0
BANK OF AMERICA CORP COM 60505104 28,109 2,185,810 SH   SOLE   2,185,810 0 0
IDACORP INC COM 451107106 3,697 77,416 SH   SOLE   77,416 0 0
EMPIRE DISTRICT ELECTRIC COM 291641108 1,591 71,306 SH   SOLE   71,306 0 0
ATMOS ENERGY CORP COM 49560105 24,778 603,466 SH   SOLE   603,466 0 0
HOME DEPOT INC COM 437076102 2,137 27,588 SH   SOLE   27,588 0 0
CENTERPOINT ENERGY COM 15189T107 14,813 630,615 SH   SOLE   630,615 0 0
NV ENERGY INC COM 67073Y106 8,227 350,697 SH   SOLE   350,697 0 0
JOHNSON AND JOHNSON COM 478160104 340,661 3,967,635 SH   SOLE   3,967,635 0 0
GREATT PLAINS ENERGY COM 391164100 5,114 226,881 SH   SOLE   226,881 0 0
WESTAR ENERGY INC COM 95709T100 17,358 543,130 SH   SOLE   543,130 0 0
LOWES CO INC COM 548661107 571,576 13,974,957 SH   SOLE   13,974,957 0 0
SCANA CORP COM 80589M102 9,421 191,874 SH   SOLE   191,874 0 0
MCDONALDS CORPORATION COM 580135101 453,355 4,579,346 SH   SOLE   4,579,346 0 0
MGE ENERGY INC COM 55277P104 1,882 34,364 SH   SOLE   34,364 0 0
VECTREN CORP COM 92240G101 3,975 117,494 SH   SOLE   117,494 0 0
MICROSOFT CORPORATIOB COM 594918104 725,596 21,001,331 SH   SOLE   21,001,331 0 0
UIL HOLDINGS CORP COM 902748102 3,417 89,335 SH   SOLE   89,335 0 0
XCEL ENERGY INC COM 98389B100 37,589 1,326,385 SH   SOLE   1,326,385 0 0
NORTHEAST UTILITIES COM 664397106 31,274 744,269 SH   SOLE   744,269 0 0
NISOURCE INC COM 65473P105 13,185 460,368 SH   SOLE   460,368 0 0
WELLS FARGO AND COMPANY COM 949746101 557,722 13,513,975 SH   SOLE   13,513,975 0 0
NORTHWEST NATURAL GAS COM 667655104 1,968 46,342 SH   SOLE   46,342 0 0
AQUA AMERICA INC COM 03836W103 7,583 242,351 SH   SOLE   242,351 0 0
PIEDMONT NATURAL GAS COM 720186105 4,384 129,931 SH   SOLE   129,931 0 0
PG AND E CORP COM 69331C108 26,439 578,161 SH   SOLE   578,161 0 0
PNM RESOURCES INC COM 69349H107 2,726 122,856 SH   SOLE   122,856 0 0
QUESTAR CORP COM 748356102 7,206 302,141 SH   SOLE   302,141 0 0
US BANCORP COM 902973304 366,850 10,148,005 SH   SOLE   10,148,005 0 0
SJW CORP COM 784305104 9,645 36,814 SH   SOLE   36,814 0 0
SOUTHERN CO COM 842587107 29,867 676,801 SH   SOLE   676,801 0 0
SOUTHWEST GAS CORP COM 844895102 19,308 412,661 SH   SOLE   412,661 0 0
STATE STREET CORP COM 857477103 364,152 5,584,299 SH   SOLE   5,584,299 0 0
EL PASO ELECTRIC COM 283677854 2,059 58,315 SH   SOLE   58,315 0 0
TECO ENERGY INC COM 872375100 5,435 316,198 SH   SOLE   316,198 0 0
WALMART STORES INC COM 931142103 431,136 5,787,838 SH   SOLE   5,787,838 0 0
WGL HOLDINGS INC COM 92924F106 2,597 60,096 SH   SOLE   60,096 0 0
AVISTA CORP COM 05379B107 2,344 86,747 SH   SOLE   86,747 0 0
PEPCO HOLDINGS INC COM 713291102 6,881 341,313 SH   SOLE   341,313 0 0
ALLIANT ENERGY CORP COM 18802108 12,164 241,261 SH   SOLE   241,261 0 0
WISCONSIN ENERGY CORP COM 976657106 26,656 650,308 SH   SOLE   650,308 0 0
INTEGRYS ENERGY GROUP COM 45822P105 6,764 115,571 SH   SOLE   115,571 0 0
GOOGLE INCORPORATED CLASS A 38259P508 652,075 740,683 SH   SOLE   740,683 0 0
ALLETE INC COM 18522300 2,999 60,165 SH   SOLE   60,165 0 0
NORTHWESTERN CORP COM 668074305 2,342 58,709 SH   SOLE   58,709 0 0
ITC HOLDINGS CORP COM 465685105 32,445 355,372 SH   SOLE   355,372 0 0
MASTERCARD INC CLASS A 57636Q104 316,103 550,223 SH   SOLE   550,223 0 0
PORTLAND GENERAL ELECTRIC COM 736508847 3,616 118,214 SH   SOLE   118,214 0 0
BANK OF NEW YORK MELLON CORP COM 64058100 422,966 15,079,017 SH   SOLE   15,079,017 0 0
VISA INC CLASS A 92826C839 395,403 2,163,626 SH   SOLE   2,163,626 0 0
AMERICAN WATER WORKS CO INC COM 30420103 39,666 962,077 SH   SOLE   962,077 0 0
HCA HOLDINGS INC COM 40412C101 22,421 621,777 SH   SOLE   621,777 0 0
UNISOURCE ENERGY CORP COM 903119105 2,727 60,964 SH   SOLE   60,964 0 0
DUKE ENERGY CORP COM 26441C204 20,754 307,474 SH   SOLE   307,474 0 0
ORACLE CORP COM 68389X105 472,938 15,400,134 SH   SOLE   15,400,134 0 0