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 239 3,310 SH   SOLE   3,310 0 0
ALLETE INC COM NEW COM 018522300 366 5,067 SH   OTR 1 0 5,067 0
ALTICE USA INC. CL A COM 02156K103 23,678 1,281,265 SH   SOLE   1,233,515 0 47,750
ALTRIA GROUP INC. COM 02209S103 1,134 18,200 SH   SOLE   9,650 0 8,550
AMERICAN TOWER REIT COM COM 03027X100 45,423 312,526 SH   SOLE   292,353 0 20,173
AMERICAN WATER WORKS COM 030420103 95,601 1,164,015 SH   SOLE   1,106,269 0 57,746
AMERICAN WATER WORKS COM 030420103 645 7,853 SH   OTR 1 0 7,853 0
ANNALY MTG MGMT INC COM COM 035710409 29,752 2,852,500 SH   SOLE   2,852,500 0 0
APPLE INC COM COM 037833100 233 1,389 SH   SOLE   0 0 1,389
AQUA AMERICA INC. COM 03836W103 6,160 180,860 SH   SOLE   179,945 0 915
AT & T INC. (NEW) COM 00206R102 70,733 1,984,100 SH   SOLE   1,971,800 0 12,300
ATMOS ENERGY CORP COM COM 049560105 30,324 359,974 SH   SOLE   323,817 0 36,157
ATMOS ENERGY CORP COM COM 049560105 331 3,928 SH   OTR 1 0 3,928 0
AVANGRID, INC. COM 05351W103 10,147 198,500 SH   SOLE   198,500 0 0
AVANGRID, INC. COM 05351W103 198 3,865 SH   OTR 1 0 3,865 0
BAKER HUGHES A GE CO COM 05722G100 5,415 195,000 SH   SOLE   195,000 0 0
BCE INC COM NEW COM 05534B760 98,250 2,282,754 SH   SOLE   2,173,766 0 108,988
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 8,620 43,212 SH   SOLE   1,825 0 41,387
BP PLC SPONS ADR COM 055622104 10,704 264,025 SH   SOLE   199,275 0 64,750
CANADIAN NATL RY CO COM COM 136375102 6,265 85,675 SH   SOLE   84,235 0 1,440
CENTURYLINK INC COM 156700106 54,763 3,333,100 SH   SOLE   3,257,150 0 75,950
CHARTER COMMUNICATIONS INC COM 16119P108 72,953 234,409 SH   SOLE   224,302 0 10,107
CHEVRON CORPORATION COM COM 166764100 24,794 217,419 SH   SOLE   176,395 0 41,024
CMS ENERGY CORP COM COM 125896100 38,755 855,710 SH   SOLE   850,510 0 5,200
CMS ENERGY CORP COM COM 125896100 580 12,807 SH   OTR 1 0 12,807 0
COMCAST CORP CLASS A COM 20030N101 154,808 4,530,526 SH   SOLE   4,279,523 0 251,003
CONTINENTAL RES INC COM COM 212015101 1,889 32,050 SH   SOLE   700 0 31,350
CROWN CASTLE INTL CORP NEW COM 22822V101 67,094 612,118 SH   SOLE   555,592 0 56,526
CYRUSONE INC COM 23283R100 13,504 263,700 SH   SOLE   221,500 0 42,200
DELTA AIRLINES INC COM 247361702 32,260 588,570 SH   SOLE   554,110 0 34,460
DOMINION RES VA NEW COM COM 25746U109 117,943 1,749,114 SH   SOLE   1,677,764 0 71,350
DOMINION RES VA NEW COM COM 25746U109 243 3,611 SH   OTR 1 0 3,611 0
DTE ENERGY CO COM COM 233331107 160,005 1,532,619 SH   SOLE   1,444,930 0 87,689
DTE ENERGY CO COM COM 233331107 674 6,458 SH   OTR 1 0 6,458 0
EDISON INTL COM COM 281020107 38,925 611,457 SH   SOLE   611,457 0 0
EDISON INTL COM COM 281020107 127 2,000 SH   OTR 1 0 2,000 0
EOG RES INC COM COM 26875P101 18,646 177,127 SH   SOLE   130,115 0 47,012
EVERSOURCE ENERGY COM 30040W108 75,219 1,276,627 SH   SOLE   1,240,947 0 35,680
EVERSOURCE ENERGY COM 30040W108 585 9,921 SH   OTR 1 0 9,921 0
EXXON MOBIL CORP COM 30231G102 24,033 322,120 SH   SOLE   315,070 0 7,050
FORTIS INC COM 349553107 41,675 1,234,072 SH   SOLE   1,234,072 0 0
GENERAL DYNAMICS CORP COM COM 369550108 274 1,240 SH   SOLE   0 0 1,240
HESS CORPORATION COM 42809H107 2,050 40,500 SH   SOLE   14,700 0 25,800
INFRAREIT INC COM 45685L100 25,497 1,312,247 SH   SOLE   1,228,097 0 84,150
INFRAREIT INC COM 45685L100 579 29,779 SH   OTR 1 0 29,779 0
JOHNSON & JOHNSON COM COM 478160104 308 2,400 SH   SOLE   0 0 2,400
KANSAS CITY SOUTHN IND COM COM 485170302 824 7,500 SH   SOLE   7,500 0 0
KRAFT HEINZ CO COM 500754106 26,224 421,000 SH   SOLE   415,000 0 6,000
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 10,387 331,754 SH   SOLE   327,864 0 3,890
LIBERTY GLOBAL PLC SHS CL C COM G5480U120 6,968 228,989 SH   SOLE   210,389 0 18,600
LIBERTY LATIN AMERICA CLASS A COM G9001E102 11,106 571,012 SH   SOLE   486,400 0 84,612
LIBERTY LATIN AMERICA CLASS C COM G9001E128 382 20,000 SH   SOLE   20,000 0 0
MARATHON PETROLEUM CORP COM 56585A102 18,492 252,935 SH   SOLE   214,729 0 38,206
NATIONAL GRID PLC SPONSORED AD COM 636274409 15,201 269,370 SH   SOLE   269,370 0 0
NATIONAL GRID PLC SPONSORED AD COM 636274409 345 6,111 SH   OTR 1 0 6,111 0
NEXTERA ENERGY INC COM COM 65339F101 153,248 938,270 SH   SOLE   874,280 0 63,990
NEXTERA ENERGY INC COM COM 65339F101 2,015 12,338 SH   OTR 1 0 12,338 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 65,872 1,647,221 SH   SOLE   1,520,771 0 126,450
NEXTERA ENERGY PARTNERS LP COM 65341B106 526 13,149 SH   OTR 1 0 13,149 0
NISOURCE INC COM COM 65473P105 47,685 1,994,335 SH   SOLE   1,865,038 0 129,297
NISOURCE INC COM COM 65473P105 653 27,295 SH   OTR 1 0 27,295 0
NRG YIELD INC CL C COM 62942X405 2,380 140,001 SH   SOLE   140,001 0 0
NRG YIELD INC CL C COM 62942X405 68 3,999 SH   OTR 1 0 3,999 0
OCCIDENTAL PETE CP DEL COM COM 674599105 7,379 113,590 SH   SOLE   111,055 0 2,535
ONEOK INC NEW COM COM 682680103 74,014 1,300,314 SH   SOLE   1,239,484 0 60,830
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,408 14,168 SH   SOLE   9,150 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 45,302 567,700 SH   SOLE   567,700 0 0
PINNACLE WEST CAP CORP COM COM 723484101 391 4,896 SH   OTR 1 0 4,896 0
PIONEER NAT RES CO COM COM 723787107 15,588 90,745 SH   SOLE   70,670 0 20,075
PORTLAND GEN ELEC CO COM NEW COM 736508847 11,553 285,194 SH   SOLE   281,294 0 3,900
PORTLAND GEN ELEC CO COM NEW COM 736508847 487 12,015 SH   OTR 1 0 12,015 0
PPG INDS INC COM COM 693506107 625 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 35,476 1,254,020 SH   SOLE   1,217,370 0 36,650
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 43,486 865,569 SH   SOLE   812,854 0 52,715
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 577 11,489 SH   OTR 1 0 11,489 0
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 107,924 1,691,332 SH   SOLE   1,556,457 0 134,875
SBA COMMUNICATIONS COR CL A COM 78410G104 11,833 69,232 SH   SOLE   47,932 0 21,300
SEMPRA ENERGY COM COM 816851109 124,008 1,114,983 SH   SOLE   1,055,640 0 59,343
SEMPRA ENERGY COM COM 816851109 1,063 9,559 SH   OTR 1 0 9,559 0
SOUTH JERSEY IND COM 838518108 15,195 539,601 SH   SOLE   505,351 0 34,250
SOUTH JERSEY IND COM 838518108 391 13,889 SH   OTR 1 0 13,889 0
SOUTHERN CO COM COM 842587107 45,142 1,010,800 SH   SOLE   1,010,800 0 0
SOUTHWEST GAS CORP COM COM 844895102 6,425 95,000 SH   SOLE   95,000 0 0
SOUTHWEST GAS CORP COM COM 844895102 135 2,000 SH   OTR 1 0 2,000 0
T-MOBILE US INC COM COM 872590104 43,936 719,786 SH   SOLE   680,836 0 38,950
TARGA RESOURCES CORP COM 87612G101 9,885 224,657 SH   SOLE   222,017 0 2,640
TELUS CORP COM COM 87971M103 3,204 91,122 SH   SOLE   91,122 0 0
TIME WARNER INC. COM 887317303 60,523 639,911 SH   SOLE   601,971 0 37,940
TRANSCANADA CORP COM 89353D107 10,205 247,028 SH   SOLE   186,921 0 60,107
UNION PAC CORP COM COM 907818108 73,575 547,313 SH   SOLE   520,750 0 26,563
UNITI GROUP INC COM 91325V108 21,076 1,297,000 SH   SOLE   1,297,000 0 0
VERIZON COMMUNICATIONS COM COM 92343V104 96,140 2,010,463 SH   SOLE   1,919,938 0 90,525
WEC ENERGY GROUP INC COM COM 92939U106 61,131 974,971 SH   SOLE   974,726 0 245
WEC ENERGY GROUP INC COM COM 92939U106 601 9,591 SH   OTR 1 0 9,591 0
WELLS FARGO & CO NEW COM COM 949746101 472 9,000 SH   SOLE   0 0 9,000
WILLIAMS COS INC COM COM 969457100 29,311 1,179,040 SH   SOLE   1,069,590 0 109,450
XCEL ENERGY INC COM COM 98389B100 411 9,047 SH   OTR 1 0 9,047 0
ZAYO GROUP HLDGS INC COM 98919V105 15,824 463,241 SH   SOLE   458,472 0 4,769
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 2,687 1,000 SH   SOLE   1,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 40,222 1,643,050 SH   SOLE   1,623,300 0 19,750
TALARA OPPORTUNITIES II, LP LP 874111111 3,442 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 12,223 355,000 SH   SOLE   355,000 0 0
TELUS CORPORATION COM 87971M103 14,383 410,000 SH   SOLE   410,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 4,408 156,143 SH   SOLE   44,507 0 111,636