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
ALPHABET INC COM 02079K107 2,120 1,900 SH   SOLE   1,900 0 0
ALTICE USA INC. CL A COM 02156K103 83,034 4,867,195 SH   SOLE   4,567,805 0 299,390
ALTRIA GROUP INC. COM 02209S103 923 16,250 SH   SOLE   7,700 0 8,550
AMEREN CORP COM COM 023608102 2,130 35,000 SH   SOLE   12,550 0 22,450
AMERICAN TOWER REIT COM COM 03027X100 46,596 323,200 SH   SOLE   303,171 0 20,029
AMERICAN WATER WORKS COM 030420103 90,673 1,061,992 SH   SOLE   1,012,601 0 49,391
AMERICAN WATER WORKS COM 030420103 670 7,853 SH   OTR 1 0 7,853 0
ANNALY MTG MGMT INC COM COM 035710409 31,925 3,102,500 SH   SOLE   3,102,500 0 0
APPLE INC COM COM 037833100 257 1,389 SH   SOLE   0 0 1,389
AQUA AMERICA INC. COM 03836W103 2,639 75,000 SH   SOLE   75,000 0 0
AT & T INC. (NEW) COM 00206R102 46,941 1,461,892 SH   SOLE   1,459,411 0 2,481
ATMOS ENERGY CORP COM COM 049560105 31,162 345,708 SH   SOLE   312,792 0 32,916
ATMOS ENERGY CORP COM COM 049560105 354 3,928 SH   OTR 1 0 3,928 0
AVANGRID, INC. COM 05351W103 3,112 58,797 SH   SOLE   58,797 0 0
AVANGRID, INC. COM 05351W103 205 3,865 SH   OTR 1 0 3,865 0
BCE INC COM NEW COM 05534B760 101,254 2,500,709 SH   SOLE   2,396,991 0 103,718
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 8,122 43,512 SH   SOLE   2,200 0 41,312
BP PLC SPONS ADR COM 055622104 27,083 593,150 SH   SOLE   481,050 0 112,100
CANADIAN NATL RY CO COM COM 136375102 6,600 80,740 SH   SOLE   79,370 0 1,370
CENTURYLINK INC COM 156700106 80,435 4,315,200 SH   SOLE   4,213,400 0 101,800
CHARTER COMMUNICATIONS INC COM 16119P108 72,673 247,852 SH   SOLE   233,127 0 14,725
CHEVRON CORPORATION COM COM 166764100 23,816 188,373 SH   SOLE   150,088 0 38,285
CMS ENERGY CORP COM COM 125896100 34,210 723,560 SH   SOLE   723,560 0 0
CMS ENERGY CORP COM COM 125896100 606 12,807 SH   OTR 1 0 12,807 0
COMCAST CORP CLASS A COM 20030N101 112,587 3,431,483 SH   SOLE   3,250,696 0 180,787
CONCHO RESOURCES INC COM 20605P101 1,857 13,420 SH   SOLE   4,120 0 9,300
CONTINENTAL RES INC COM COM 212015101 1,467 22,650 SH   SOLE   0 0 22,650
CROWN CASTLE INTL CORP NEW COM 22822V101 67,830 629,102 SH   SOLE   572,738 0 56,364
CYRUSONE INC COM 23283R100 15,769 270,200 SH   SOLE   235,300 0 34,900
DELTA AIRLINES INC COM 247361702 35,111 708,745 SH   SOLE   644,895 0 63,850
DOMINION ENERGY INC. COM 25746U109 124,840 1,831,035 SH   SOLE   1,756,635 0 74,400
DOMINION ENERGY INC. COM 25746U109 601 8,811 SH   OTR 1 0 8,811 0
DTE ENERGY CO COM COM 233331107 155,985 1,505,212 SH   SOLE   1,427,850 0 77,362
DTE ENERGY CO COM COM 233331107 669 6,458 SH   OTR 1 0 6,458 0
DUKE ENERGY CORP NEW COM NEW COM 26441C204 3,988 50,425 SH   SOLE   50,425 0 0
EDISON INTL COM COM 281020107 39,290 620,989 SH   SOLE   620,989 0 0
EDISON INTL COM COM 281020107 127 2,000 SH   OTR 1 0 2,000 0
EOG RES INC COM COM 26875P101 22,201 178,423 SH   SOLE   132,196 0 46,227
EQUINIX INC COM NEW COM 29444U700 3,759 8,745 SH   SOLE   8,556 0 189
EVERGY INC COM COM 30034W106 13,646 243,020 SH   SOLE   206,745 0 36,275
EVERSOURCE ENERGY COM 30040W108 72,109 1,230,314 SH   SOLE   1,226,674 0 3,640
EVERSOURCE ENERGY COM 30040W108 581 9,921 SH   OTR 1 0 9,921 0
EXELON CORP COM COM 30161N101 273 6,400 SH   OTR 1 0 6,400 0
EXXON MOBIL CORP COM 30231G102 26,649 322,120 SH   SOLE   315,070 0 7,050
FORTIS INC COM 349553107 39,636 1,243,272 SH   SOLE   1,243,272 0 0
GENERAL DYNAMICS CORP COM COM 369550108 231 1,240 SH   SOLE   0 0 1,240
HESS CORPORATION COM 42809H107 2,895 43,275 SH   SOLE   15,561 0 27,714
INFRAREIT INC COM 45685L100 26,562 1,198,097 SH   SOLE   1,134,297 0 63,800
INFRAREIT INC COM 45685L100 594 26,779 SH   OTR 1 0 26,779 0
JOHNSON & JOHNSON COM COM 478160104 291 2,400 SH   SOLE   0 0 2,400
KANSAS CITY SOUTHN IND COM COM 485170302 1,081 10,200 SH   SOLE   10,200 0 0
KRAFT HEINZ CO COM 500754106 29,029 462,100 SH   SOLE   453,100 0 9,000
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 4,554 165,350 SH   SOLE   165,350 0 0
LIBERTY GLOBAL PLC SHS CL C COM G5480U120 4,924 185,039 SH   SOLE   185,039 0 0
LIBERTY LATIN AMERICA CLASS A COM G9001E102 7,034 367,902 SH   SOLE   283,490 0 84,412
MARATHON PETROLEUM CORP COM 56585A102 16,614 236,801 SH   SOLE   198,869 0 37,932
NEXTERA ENERGY INC COM COM 65339F101 154,217 923,286 SH   SOLE   859,425 0 63,861
NEXTERA ENERGY INC COM COM 65339F101 2,061 12,338 SH   OTR 1 0 12,338 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 73,111 1,566,546 SH   SOLE   1,446,646 0 119,900
NEXTERA ENERGY PARTNERS LP COM 65341B106 614 13,149 SH   OTR 1 0 13,149 0
NISOURCE INC COM COM 65473P105 52,399 1,993,867 SH   SOLE   1,851,070 0 142,797
NISOURCE INC COM COM 65473P105 717 27,295 SH   OTR 1 0 27,295 0
NRG ENERGY INC COM COM 629377508 1,075 35,000 SH   SOLE   35,000 0 0
NRG ENERGY INC COM COM 629377508 173 5,650 SH   OTR 1 0 5,650 0
NRG YIELD INC CL C COM 62942X405 4,128 240,001 SH   SOLE   240,001 0 0
NRG YIELD INC CL C COM 62942X405 69 3,999 SH   OTR 1 0 3,999 0
OCCIDENTAL PETE CP DEL COM COM 674599105 11,469 137,052 SH   SOLE   115,617 0 21,435
ONEOK INC NEW COM COM 682680103 90,692 1,298,760 SH   SOLE   1,238,730 0 60,030
PHILLIP MORRIS INTERNATIONAL COM 718172109 914 11,318 SH   SOLE   6,300 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 52,179 647,700 SH   SOLE   647,700 0 0
PINNACLE WEST CAP CORP COM COM 723484101 394 4,896 SH   OTR 1 0 4,896 0
PIONEER NAT RES CO COM COM 723787107 16,468 87,024 SH   SOLE   66,979 0 20,045
PPG INDS INC COM COM 693506107 581 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 55,845 1,956,045 SH   SOLE   1,865,720 0 90,325
PPL CORP COM COM 69351T106 371 13,000 SH   OTR 1 0 13,000 0
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 40,592 749,760 SH   SOLE   699,380 0 50,380
PUBLIC SVC ENTERPRISE GROUP IN COM 744573106 622 11,489 SH   OTR 1 0 11,489 0
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 219 3,015 SH   SOLE   3,015 0 0
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 116,637 1,684,782 SH   SOLE   1,551,407 0 133,375
SBA COMMUNICATIONS COR CL A COM 78410G104 10,924 66,157 SH   SOLE   44,892 0 21,265
SEMPRA ENERGY COM COM 816851109 137,062 1,180,452 SH   SOLE   1,139,845 0 40,607
SEMPRA ENERGY COM COM 816851109 1,110 9,559 SH   OTR 1 0 9,559 0
SOUTH JERSEY IND COM 838518108 37,815 1,129,826 SH   SOLE   1,080,376 0 49,450
SOUTH JERSEY IND COM 838518108 465 13,889 SH   OTR 1 0 13,889 0
SOUTHERN CO COM COM 842587107 40,570 876,050 SH   SOLE   876,050 0 0
SOUTHWEST GAS CORP COM COM 844895102 12,250 160,620 SH   SOLE   150,770 0 9,850
SOUTHWEST GAS CORP COM COM 844895102 357 4,680 SH   OTR 1 0 4,680 0
T-MOBILE US INC COM COM 872590104 65,746 1,100,351 SH   SOLE   1,051,036 0 49,315
TARGA RESOURCES CORP COM 87612G101 11,047 223,222 SH   SOLE   220,752 0 2,470
TELUS CORP COM COM 87971M103 2,707 76,237 SH   SOLE   76,237 0 0
TRANSCANADA CORP COM 89353D107 5,319 123,125 SH   SOLE   123,043 0 82
TWENTY-FIRST CENTURY FOX INC COM 90130A101 19,074 383,850 SH   SOLE   381,310 0 2,540
UNION PAC CORP COM COM 907818108 74,412 525,213 SH   SOLE   498,725 0 26,488
UNITI GROUP INC COM 91325V108 18,044 900,860 SH   SOLE   900,860 0 0
VERIZON COMMUNICATIONS COM COM 92343V104 101,458 2,016,663 SH   SOLE   1,934,863 0 81,800
WEC ENERGY GROUP INC COM COM 92939U106 63,729 985,749 SH   SOLE   985,699 0 50
WEC ENERGY GROUP INC COM COM 92939U106 620 9,591 SH   OTR 1 0 9,591 0
WELLS FARGO & CO NEW COM COM 949746101 499 9,000 SH   SOLE   0 0 9,000
WILLIAMS COS INC COM COM 969457100 37,222 1,372,990 SH   SOLE   1,244,690 0 128,300
XCEL ENERGY INC COM COM 98389B100 413 9,047 SH   OTR 1 0 9,047 0
ZAYO GROUP HLDGS INC COM 98919V105 15,636 428,629 SH   SOLE   424,050 0 4,579
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 2,325 1,000 SH   SOLE   1,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 45,463 1,643,050 SH   SOLE   1,623,300 0 19,750
TALARA OPPORTUNITIES II, LP LP 874111111 3,591 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 14,409 355,000 SH   SOLE   355,000 0 0
TELUS CORPORATION COM 87971M103 14,555 410,000 SH   SOLE   410,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 4,604 159,240 SH   SOLE   46,043 0 113,197