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 2,908 39,110 SH   SOLE   31,660 0 7,450
ALLETE INC COM NEW COM 018522300 377 5,067 SH   OTR 1 0 5,067 0
ALTICE USA INC. CL A COM 02156K103 13,955 657,310 SH   SOLE   657,310 0 0
ALTRIA GROUP INC. COM 02209S103 1,300 18,200 SH   SOLE   9,650 0 8,550
AMERICAN TOWER REIT COM COM 03027X100 45,754 320,695 SH   SOLE   300,392 0 20,303
AMERICAN WATER WORKS COM 030420103 118,135 1,291,239 SH   SOLE   1,239,353 0 51,886
AMERICAN WATER WORKS COM 030420103 718 7,853 SH   OTR 1 0 7,853 0
ANNALY MTG MGMT INC COM COM 035710409 33,346 2,804,500 SH   SOLE   2,804,500 0 0
APPLE INC COM COM 037833100 235 1,389 SH   SOLE   0 0 1,389
AQUA AMERICA INC. COM 03836W103 7,320 186,580 SH   SOLE   186,010 0 570
AT & T INC. (NEW) COM 00206R102 77,192 1,985,400 SH   SOLE   1,973,100 0 12,300
ATMOS ENERGY CORP COM COM 049560105 32,214 375,058 SH   SOLE   348,976 0 26,082
ATMOS ENERGY CORP COM COM 049560105 337 3,928 SH   OTR 1 0 3,928 0
AVANGRID, INC. COM 05351W103 10,040 198,500 SH   SOLE   198,500 0 0
AVANGRID, INC. COM 05351W103 195 3,865 SH   OTR 1 0 3,865 0
BAKER HUGHES INC NEW CLASS A COM 05722G100 8,891 281,000 SH   SOLE   281,000 0 0
BCE INC COM NEW COM 05534B760 118,121 2,460,340 SH   SOLE   2,351,172 0 109,168
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 8,526 43,012 SH   SOLE   1,625 0 41,387
BP PLC SPONS ADR COM 055622104 6,430 152,975 SH   SOLE   152,875 0 100
CANADIAN NATL RY CO COM COM 136375102 2,662 32,265 SH   SOLE   32,265 0 0
CENTURYLINK INC COM 156700106 51,952 3,114,600 SH   SOLE   3,035,725 0 78,875
CHARTER COMMUNICATIONS INC COM 16119P108 100,000 297,655 SH   SOLE   283,549 0 14,106
CHEVRON CORPORATION COM COM 166764100 59,148 472,466 SH   SOLE   432,547 0 39,919
CMS ENERGY CORP COM COM 125896100 34,104 721,010 SH   SOLE   715,810 0 5,200
CMS ENERGY CORP COM COM 125896100 606 12,807 SH   OTR 1 0 12,807 0
COMCAST CORP CLASS A COM 20030N101 209,697 5,235,884 SH   SOLE   4,975,166 0 260,718
CONTINENTAL RES INC COM COM 212015101 8,398 158,550 SH   SOLE   120,900 0 37,650
CROWN CASTLE INTL CORP NEW COM 22822V101 78,422 706,441 SH   SOLE   648,635 0 57,806
CYRUSONE INC COM 23283R100 14,257 239,500 SH   SOLE   208,000 0 31,500
DELTA AIRLINES INC COM 247361702 16,219 289,620 SH   SOLE   287,020 0 2,600
DOMINION RES VA NEW COM COM 25746U109 109,215 1,347,339 SH   SOLE   1,283,314 0 64,025
DOMINION RES VA NEW COM COM 25746U109 576 7,111 SH   OTR 1 0 7,111 0
DTE ENERGY CO COM COM 233331107 173,352 1,583,699 SH   SOLE   1,499,045 0 84,654
DTE ENERGY CO COM COM 233331107 707 6,458 SH   OTR 1 0 6,458 0
EDISON INTL COM COM 281020107 41,909 662,695 SH   SOLE   637,372 0 25,323
EOG RES INC COM COM 26875P101 38,608 357,783 SH   SOLE   310,636 0 47,147
EQT CORP COM COM 26884L109 5,431 95,416 SH   SOLE   92,984 0 2,432
EVERSOURCE ENERGY COM 30040W108 78,027 1,234,999 SH   SOLE   1,205,524 0 29,475
EVERSOURCE ENERGY COM 30040W108 658 10,421 SH   OTR 1 0 10,421 0
EXXON MOBIL CORP COM 30231G102 32,254 385,625 SH   SOLE   376,660 0 8,965
FORTIS INC COM 349553107 45,283 1,234,876 SH   SOLE   1,234,876 0 0
GENERAL DYNAMICS CORP COM COM 369550108 252 1,240 SH   SOLE   0 0 1,240
HESS CORPORATION COM 42809H107 5,732 120,750 SH   SOLE   95,300 0 25,450
INFRAREIT INC COM 45685L100 30,019 1,615,639 SH   SOLE   1,516,139 0 99,500
INFRAREIT INC COM 45685L100 553 29,779 SH   OTR 1 0 29,779 0
JOHNSON & JOHNSON COM COM 478160104 335 2,400 SH   SOLE   0 0 2,400
KRAFT HEINZ CO COM 500754106 29,837 383,700 SH   SOLE   377,700 0 6,000
LIBERTY GLOBAL PLC LILAC SHS C COM G5480U138 9,521 472,512 SH   SOLE   387,900 0 84,612
LIBERTY GLOBAL PLC LILAC SHS C COM G5480U153 398 20,002 SH   SOLE   20,002 0 0
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 12,125 338,309 SH   SOLE   333,639 0 4,670
LIBERTY GLOBAL PLC SHS CL C COM G5480U120 11,202 331,039 SH   SOLE   324,339 0 6,700
MARATHON PETROLEUM CORP COM 56585A102 17,264 261,648 SH   SOLE   222,977 0 38,671
NATIONAL GRID PLC SPONSORED AD COM 636274409 18,764 319,057 SH   SOLE   317,667 0 1,390
NATIONAL GRID PLC SPONSORED AD COM 636274409 359 6,111 SH   OTR 1 0 6,111 0
NEXTERA ENERGY INC COM COM 65339F101 164,418 1,052,679 SH   SOLE   988,419 0 64,260
NEXTERA ENERGY INC COM COM 65339F101 1,927 12,338 SH   OTR 1 0 12,338 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 81,869 1,899,074 SH   SOLE   1,762,624 0 136,450
NEXTERA ENERGY PARTNERS LP COM 65341B106 705 16,349 SH   OTR 1 0 16,349 0
NISOURCE INC COM COM 65473P105 52,360 2,039,749 SH   SOLE   1,927,197 0 112,552
NISOURCE INC COM COM 65473P105 701 27,295 SH   OTR 1 0 27,295 0
OCCIDENTAL PETE CP DEL COM COM 674599105 1,541 20,915 SH   SOLE   20,915 0 0
ONEOK INC NEW COM COM 682680103 24,341 455,394 SH   SOLE   408,664 0 46,730
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,502 14,218 SH   SOLE   9,200 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 48,357 567,700 SH   SOLE   567,700 0 0
PINNACLE WEST CAP CORP COM COM 723484101 417 4,896 SH   OTR 1 0 4,896 0
PIONEER NAT RES CO COM COM 723787107 32,647 188,873 SH   SOLE   150,003 0 38,870
PORTLAND GEN ELEC CO COM NEW COM 736508847 13,946 305,967 SH   SOLE   301,185 0 4,782
PORTLAND GEN ELEC CO COM NEW COM 736508847 548 12,015 SH   OTR 1 0 12,015 0
PPG INDS INC COM COM 693506107 654 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 31,153 1,006,570 SH   SOLE   978,870 0 27,700
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 44,555 865,149 SH   SOLE   812,214 0 52,935
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 592 11,489 SH   OTR 1 0 11,489 0
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 206 3,015 SH   SOLE   3,015 0 0
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 125,787 1,885,577 SH   SOLE   1,748,702 0 136,875
SBA COMMUNICATIONS COR CL A COM 78410G104 25,520 156,222 SH   SOLE   135,112 0 21,110
SCANA CORP NEW COM COM 80589M102 5,308 133,441 SH   SOLE   133,441 0 0
SEMPRA ENERGY COM COM 816851109 114,375 1,069,726 SH   SOLE   1,017,588 0 52,138
SEMPRA ENERGY COM COM 816851109 1,022 9,559 SH   OTR 1 0 9,559 0
SOUTH JERSEY IND COM 838518108 8,353 267,475 SH   SOLE   236,375 0 31,100
SOUTH JERSEY IND COM 838518108 278 8,889 SH   OTR 1 0 8,889 0
SOUTHERN CO COM COM 842587107 48,645 1,011,550 SH   SOLE   1,010,800 0 750
T-MOBILE US INC COM COM 872590104 46,401 730,611 SH   SOLE   691,511 0 39,100
TARGA RESOURCES CORP COM 87612G101 15,672 323,672 SH   SOLE   300,082 0 23,590
TELUS CORP COM COM 87971M103 3,418 90,252 SH   SOLE   90,252 0 0
TIME WARNER INC. COM 887317303 60,427 660,616 SH   SOLE   622,551 0 38,065
TRANSCANADA CORP COM 89353D107 33,512 688,981 SH   SOLE   580,932 0 108,049
UNION PAC CORP COM COM 907818108 71,574 533,738 SH   SOLE   507,175 0 26,563
UNITI GROUP INC COM 91325V108 24,930 1,401,342 SH   SOLE   1,383,042 0 18,300
VERIZON COMMUNICATIONS COM COM 92343V104 106,430 2,010,763 SH   SOLE   1,936,163 0 74,600
WEC ENERGY GROUP INC COM COM 92939U106 67,932 1,022,617 SH   SOLE   1,022,517 0 100
WEC ENERGY GROUP INC COM COM 92939U106 637 9,591 SH   OTR 1 0 9,591 0
WELLS FARGO & CO NEW COM COM 949746101 546 9,000 SH   SOLE   0 0 9,000
WILLIAMS COS INC COM COM 969457100 33,317 1,092,715 SH   SOLE   971,515 0 121,200
XCEL ENERGY INC COM COM 98389B100 435 9,047 SH   OTR 1 0 9,047 0
ZAYO GROUP HLDGS INC COM 98919V105 28,160 765,211 SH   SOLE   752,832 0 12,379
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 3,445 63 SH   SOLE   63 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 48,334 1,823,250 SH   SOLE   1,803,300 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 17,257 445,000 SH   SOLE   445,000 0 0
COGECO COMMUNICATIONS INC COM 19239C106 24,188 350,450 SH   SOLE   314,100 0 36,350
TELUS CORPORATION COM 87971M103 15,583 410,000 SH   SOLE   410,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 4,771 154,198 SH   SOLE   43,608 0 110,590