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
Estimated average burden
hours per response: 23.8
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
ALLETE INC COM NEW COM 018522300 7,660 99,110 SH   SOLE   79,060 0 20,050
ALLETE INC COM NEW COM 018522300 441 5,700 SH   OTR 1 0 5,700 0
ALTRIA GROUP INC. COM 02209S103 1,176 18,550 SH   SOLE   10,000 0 8,550
AMERICAN TOWER REIT COM COM 03027X100 48,246 352,986 SH   SOLE   327,313 0 25,673
AMERICAN WATER WORKS COM 030420103 105,284 1,301,253 SH   SOLE   1,249,282 0 51,971
AMERICAN WATER WORKS COM 030420103 715 8,834 SH   OTR 1 0 8,834 0
ANNALY MTG MGMT INC COM COM 035710409 28,067 2,302,500 SH   SOLE   2,302,500 0 0
APPLE INC COM COM 037833100 214 1,389 SH   SOLE   0 0 1,389
AQUA AMERICA INC. COM 03836W103 3,351 100,955 SH   SOLE   100,890 0 65
AT & T INC. (NEW) COM 00206R102 51,868 1,324,175 SH   SOLE   1,313,650 0 10,525
ATMOS ENERGY CORP COM COM 049560105 32,790 391,097 SH   SOLE   365,015 0 26,082
ATMOS ENERGY CORP COM COM 049560105 370 4,419 SH   OTR 1 0 4,419 0
AVANGRID, INC. COM 05351W103 9,413 198,500 SH   SOLE   198,500 0 0
AVANGRID, INC. COM 05351W103 277 5,848 SH   OTR 1 0 5,848 0
BAKER HUGHES INC NEW CLASS A COM 05722G100 11,554 315,500 SH   SOLE   312,000 0 3,500
BCE INC COM NEW COM 05534B760 97,170 2,074,950 SH   SOLE   1,965,957 0 108,993
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 7,892 43,050 SH   SOLE   1,550 0 41,500
BP PLC SPONS ADR COM 055622104 3,516 91,500 SH   SOLE   91,500 0 0
CENTURYLINK INC COM 156700106 46,291 2,449,268 SH   SOLE   2,301,723 0 147,545
CHARTER COMMUNICATIONS INC COM 16119P108 101,545 279,416 SH   SOLE   266,212 0 13,204
CHEVRON CORPORATION COM COM 166764100 58,085 494,338 SH   SOLE   457,530 0 36,808
CMS ENERGY CORP COM COM 125896100 29,460 636,000 SH   SOLE   630,800 0 5,200
CMS ENERGY CORP COM COM 125896100 667 14,408 SH   OTR 1 0 14,408 0
COMCAST CORP CLASS A COM 20030N101 145,805 3,789,113 SH   SOLE   3,536,990 0 252,123
CONTINENTAL RES INC COM COM 212015101 5,780 149,700 SH   SOLE   114,000 0 35,700
COSTCO WHSL CORP NEW COM COM 22160K105 657 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 72,211 722,251 SH   SOLE   662,670 0 59,581
CYRUSONE INC COM 23283R100 5,884 99,850 SH   SOLE   78,500 0 21,350
DOMINION RES VA NEW COM COM 25746U109 45,382 589,910 SH   SOLE   564,485 0 25,425
DTE ENERGY CO COM COM 233331107 154,134 1,435,672 SH   SOLE   1,350,812 0 84,860
DTE ENERGY CO COM COM 233331107 723 6,735 SH   OTR 1 0 6,735 0
EDISON INTL COM COM 281020107 58,822 762,235 SH   SOLE   722,228 0 40,007
EDISON INTL COM COM 281020107 430 5,575 SH   OTR 1 0 5,575 0
EOG RES INC COM COM 26875P101 38,145 394,309 SH   SOLE   347,420 0 46,889
EQT CORP COM COM 26884L109 9,929 152,198 SH   SOLE   149,162 0 3,036
EVERSOURCE ENERGY COM 30040W108 71,110 1,176,533 SH   SOLE   1,146,948 0 29,585
EVERSOURCE ENERGY COM 30040W108 709 11,723 SH   OTR 1 0 11,723 0
EXXON MOBIL CORP COM 30231G102 9,849 120,145 SH   SOLE   111,015 0 9,130
FORTIS INC COM 349553107 44,177 1,235,026 SH   SOLE   1,235,026 0 0
GENERAL DYNAMICS CORP COM COM 369550108 255 1,240 SH   SOLE   0 0 1,240
HESS CORPORATION COM 42809H107 3,857 82,250 SH   SOLE   65,200 0 17,050
INFRAREIT INC COM 45685L100 26,922 1,203,495 SH   SOLE   1,120,895 0 82,600
INFRAREIT INC COM 45685L100 749 33,500 SH   OTR 1 0 33,500 0
JOHNSON & JOHNSON COM COM 478160104 312 2,400 SH   SOLE   0 0 2,400
KRAFT HEINZ CO COM 500754106 29,779 384,000 SH   SOLE   378,000 0 6,000
LIBERTY GLOBAL PLC LILAC SHS C COM G5480U153 466 20,002 SH   SOLE   20,002 0 0
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 6,226 183,616 SH   SOLE   178,891 0 4,725
MARATHON PETROLEUM CORP COM 56585A102 18,669 332,897 SH   SOLE   273,361 0 59,536
NATIONAL GRID PLC SPONSORED AD COM 636274409 28,323 451,658 SH   SOLE   449,803 0 1,855
NATIONAL GRID PLC SPONSORED AD COM 636274409 431 6,875 SH   OTR 1 0 6,875 0
NEXTERA ENERGY INC COM COM 65339F101 169,704 1,157,996 SH   SOLE   1,093,546 0 64,450
NEXTERA ENERGY INC COM COM 65339F101 2,034 13,880 SH   OTR 1 0 13,880 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 57,448 1,425,856 SH   SOLE   1,297,456 0 128,400
NEXTERA ENERGY PARTNERS LP COM 65341B106 741 18,392 SH   OTR 1 0 18,392 0
NISOURCE INC COM COM 65473P105 55,194 2,156,856 SH   SOLE   2,043,969 0 112,887
NISOURCE INC COM COM 65473P105 786 30,706 SH   OTR 1 0 30,706 0
ONEOK INC NEW COM COM 682680103 11,624 209,780 SH   SOLE   200,000 0 9,780
PG&E CORP COM COM 69331C108 49,420 725,800 SH   SOLE   725,700 0 100
PG&E CORP COM COM 69331C108 1,178 17,295 SH   OTR 1 0 17,295 0
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,612 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 50,899 601,925 SH   SOLE   589,725 0 12,200
PINNACLE WEST CAP CORP COM COM 723484101 466 5,508 SH   OTR 1 0 5,508 0
PIONEER NAT RES CO COM COM 723787107 29,625 200,794 SH   SOLE   162,819 0 37,975
PORTLAND GEN ELEC CO COM NEW COM 736508847 16,135 353,526 SH   SOLE   348,639 0 4,887
PORTLAND GEN ELEC CO COM NEW COM 736508847 617 13,517 SH   OTR 1 0 13,517 0
PPG INDS INC COM COM 693506107 608 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 39,941 1,052,470 SH   SOLE   1,006,720 0 45,750
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 22,220 480,425 SH   SOLE   435,110 0 45,315
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 46 1,000 SH   OTR 1 0 1,000 0
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 114,313 1,886,975 SH   SOLE   1,754,100 0 132,875
SBA COMMUNICATIONS COR CL A COM 78410G104 18,706 129,861 SH   SOLE   110,141 0 19,720
SCANA CORP NEW COM COM 80589M102 37,029 763,632 SH   SOLE   763,632 0 0
SCANA CORP NEW COM COM 80589M102 311 6,404 SH   OTR 1 0 6,404 0
SCHLUMBERGER LTD COM COM 806857108 2,501 35,847 SH   SOLE   15,342 0 20,505
SEMPRA ENERGY COM COM 816851109 110,517 968,347 SH   SOLE   910,589 0 57,758
SEMPRA ENERGY COM COM 816851109 1,227 10,753 SH   OTR 1 0 10,753 0
SOUTH JERSEY IND COM 838518108 6,237 180,625 SH   SOLE   157,075 0 23,550
SOUTHERN CO COM COM 842587107 19,475 396,325 SH   SOLE   395,575 0 750
T-MOBILE US INC COM COM 872590104 38,086 617,678 SH   SOLE   569,303 0 48,375
TARGA RESOURCES CORP COM 87612G101 17,156 362,715 SH   SOLE   335,525 0 27,190
TELUS CORP COM COM 87971M103 1,626 45,200 SH   SOLE   45,200 0 0
TIME WARNER INC. COM 887317303 51,980 507,372 SH   SOLE   455,157 0 52,215
TRANSCANADA CORP COM 89353D107 34,620 700,382 SH   SOLE   587,998 0 112,384
UNION PAC CORP COM COM 907818108 64,787 558,650 SH   SOLE   532,025 0 26,625
UNITI GROUP INC COM 91325V108 23,410 1,596,851 SH   SOLE   1,545,951 0 50,900
VERIZON COMMUNICATIONS COM COM 92343V104 77,007 1,556,015 SH   SOLE   1,487,490 0 68,525
WEC ENERGY GROUP INC COM COM 92939U106 59,823 952,900 SH   SOLE   952,850 0 50
WEC ENERGY GROUP INC COM COM 92939U106 677 10,789 SH   OTR 1 0 10,789 0
WELLS FARGO & CO NEW COM COM 949746101 496 9,000 SH   SOLE   0 0 9,000
WILLIAMS COS INC COM COM 969457100 28,868 961,940 SH   SOLE   849,790 0 112,150
XCEL ENERGY INC COM COM 98389B100 482 10,178 SH   OTR 1 0 10,178 0
ZAYO GROUP HLDGS INC COM 98919V105 26,550 771,355 SH   SOLE   751,851 0 19,504
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 2,631 414 SH   SOLE   414 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 44,795 1,718,250 SH   SOLE   1,698,300 0 19,950
TALARA OPPORTUNITIES II, LP LP 874111111 3,442 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 17,311 445,000 SH   SOLE   445,000 0 0
COGECO COMMUNICATIONS INC COM 19239C106 17,670 240,150 SH   SOLE   205,900 0 34,250
REAVES UTIL INCOME FD COM SH B CEF 756158101 3,056 96,407 SH   SOLE   19,031 0 77,376