| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALLSTATE CORP SUB DE FIXED TO | 722 | 747 |
| CITIGROUP INC NON-CUM 6.875% S | 1,722 | 1,748 |
| DIGITAL RLTY TR INC - 5.875% - | 1,865 | 1,361 |
| DTE ENERGY CO JR SER C - 5.25% | 620 | 597 |
| DUKE ENERGY CORP - 5.125% - 01 | 1,544 | 1,528 |
| ENTERGY ARKANSAS INC - 4.90% - | 612 | 627 |
| GE CAPITAL - 4.700% - 05/16205 | 5,532 | 5,206 |
| KIMCO RLTY 1/1000 PFD SER I - | 3,204 | 3,068 |
| MORGAN STANLEY FIX SER E - 7.1 | 1,982 | 2,036 |
| NEXTERA ENERGY CAPITAL - 5.00% | 1,516 | 1,443 |
| NEXTERA ENERGY INC JR SUB DEBS | 1,444 | 1,411 |
| PRUDENTIAL FINL INC - 5.7% - 0 | 3,363 | 3,293 |
| PUBLIC STORAGE DEP - 5.2% - 12 | 1,072 | 1,000 |
| PUBLIC STORAGE DEP SHS SER U - | 1,066 | 990 |
| STANLEY BLACK & DECKER INC JR | 3,510 | 3,400 |
| VENTAS RLTY LTD PARTNERSHIP - | 2,371 | 2,347 |
| VORNADO RLTY TR PFD - 5.40% - | 1,058 | 994 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AEGON N.V. | 5,580 | 5,779 |
| AEGON NV PFD - 6.375% | 10,530 | 10,675 |
| AEGON NV PFD FLOAT RATE | 2,235 | 2,165 |
| AFFIL MANAGERS GR INC - 6.375 | 1,163 | 1,160 |
| AFFILIATED MANAGERS GROUP INC | 793 | 791 |
| AFLAC INC PFD - 5.500% - 09/15 | 2,380 | 2,313 |
| ALEXANDRIA REAL ESTATE PFD SER | 673 | 615 |
| ALLSTATE CORPORATION | 1,249 | 1,283 |
| ALLSTATE PFD SER A | 773 | 651 |
| AMERICAN FINANCIAL GROUP - 6.3 | 1,143 | 1,137 |
| AMERICAN FINANCIAL GROUP INC | 1,151 | 1,131 |
| AMERIPRISE FINANCIAL INC PFD - | 2,622 | 2,591 |
| ARCH CAPITAL GROUP PFD | 4,163 | 3,967 |
| ASPEN INSURANCE HOLDINGS LIMIT | 2,397 | 2,290 |
| ASPEN INSURANCE HOLDINGS LTD | 1,703 | 1,665 |
| AXIS CAPITAL HOLDINGS LTD PFD | 3,680 | 3,631 |
| AXIS CAPITAL HOLDINGS LTD SER | 2,706 | 2,026 |
| BANK OF NEW YORK MELLON CORPOR | 6,815 | 7,034 |
| BARCLAYS BANK PLC - 6.625% - A | 4,013 | 3,935 |
| BARCLAYS BANK PLC PRFD 'C' | 3,764 | 3,774 |
| BARCLAYS BANK PLC SER 3 - 7.10 | 5,067 | 5,084 |
| BB&T CORP DEP SHS PFD E | 7,254 | 7,184 |
| BB&T CORP SER F PERPETUAL PFD | 908 | 881 |
| BB&T CORPORATION PREFERRED G | 5,364 | 5,226 |
| BOSTON PROPERTIES INC SERIES B | 881 | 818 |
| CAPITAL ONE FIN SER B - 6.00% | 7,184 | 7,131 |
| CENTEX CORP | 2,372 | 2,128 |
| CHARLES SCHWAB CORPORATION | 3,417 | 3,342 |
| CITIGROUP CAP TR IX PFD - 6.00 | 6,413 | 6,426 |
| CITIGROUP CAPITAL XI PFD - 6.0 | 2,219 | 2,214 |
| CITIGROUP CAPITAL XIII - 7.875 | 5,849 | 5,804 |
| CITIGROUP CAPITAL XVII PFD - | 2,123 | 2,129 |
| CITIGROUP INC PER 7.125 | 2,239 | 2,283 |
| CITIGROUP INC SERIES C | 4,220 | 4,227 |
| COM CAST CORPORATION 5.00% 12/ | 2,193 | 2,126 |
| DB CONT CAP TR II - 6.550% | 10,616 | 10,707 |
| DEUTSCHE BK CONTINGENT CAP TR | 2,958 | 2,959 |
| DIGITAL REALTY TRUST INC 7 | 1,044 | 955 |
| DIGITAL RLTY TR INC PFD SER F | 1,514 | 1,399 |
| DOMINION RES INC VA NEW 8.375% | 4,004 | 3,964 |
| DTE ENERGY CO - 6.500% - 12/01 | 1,134 | 1,112 |
| ENTERGY ARK INC 1ST MTG BD - 5 | 1,253 | 1,216 |
| ENTERGY ARKANSAS INC 04.75% 06 | 1,149 | 1,146 |
| ENTERGY LA LLC SER - 5.875% - | 662 | 651 |
| ENTERGY LOUISIANA LLC | 722 | 735 |
| ENTERGY LOUISIANA LLC 1ST MTG | 1,817 | 1,759 |
| ENTERGY MISSISSIPPI INC - 6.00 | 1,313 | 1,288 |
| ENTERGY TEXAS INC | 1,283 | 1,260 |
| FIRST NIAGARA PFD NON CUM SER | 2,963 | 2,870 |
| GE CAPITAL CORP PFD - 4.875% - | 5,168 | 4,786 |
| GE CAPITAL CORP PFD - 4.875% - | 5,602 | 5,289 |
| GLOBALSANTAFE CP | 8,320 | 8,331 |
| GOLDMAN SACHS GROUP INC | 5,968 | 5,668 |
| GOLDMAN SACHS GROUP INC - 6.5 | 6,355 | 6,308 |
| GOLDMAN SACHS GROUP INC PFD - | 891 | 830 |
| HARTFORD FINL SVCS GRP - 7.875 | 2,593 | 2,608 |
| HEALTH CARE REIT INCPFD SER J | 2,853 | 2,821 |
| HOSPITALITY PPTYS TR CUM PFD S | 3,239 | 3,030 |
| HSBC CALL SERIES P 44180R209 | 17,808 | 17,754 |
| HSBC HLDGS PFD SER A | 1,898 | 1,902 |
| ING GROEP NV - 6.375% - PERPET | 1,784 | 1,849 |
| ING GROEP PERP DEBT 7.20% | 5,245 | 5,334 |
| ING GROUP - 6.125% - PERPETUAL | 5,780 | 5,903 |
| ING GROUP NV DEBT - 7.050% - | 6,756 | 6,877 |
| INTEGRYS ENERGY GROUP INC | 7,395 | 7,257 |
| INTERSTATE POWER AND LIGHT COM | 1,119 | 1,107 |
| J P MORGAN CHASE AND COMPANY . | 5,314 | 5,050 |
| JP MORGAN CHASE & CO 5.50% PFD | 9,168 | 8,783 |
| KIMCO REAL TV CORP CLASS K 5.6 | 1,056 | 1,022 |
| KIMCO RLTY CORP - 5.500% - 12/ | 972 | 953 |
| KIMCO RLTY CORP DEPOSITARY SHS | 2,645 | 2,525 |
| LLOYDS BANKING GROUPPLC PRF 7. | 14,563 | 14,579 |
| METLIFE INC PFD B - 6.500% | 1,262 | 1,270 |
| MORGAN STANLEY CAP TR IV PFD - | 3,765 | 3,647 |
| MORGAN STANLEY CAP TR V PFD - | 2,448 | 2,326 |
| MORGAN STANLEY CAP TR VII - 6. | 2,333 | 2,309 |
| MORGAN STANLEY CAP TRUST 6.45% | 1,054 | 1,024 |
| MORGAN STANLEY CP TR III - 6. | 4,298 | 4,174 |
| MORGAN STANLEY SER A - FLOAT % | 2,238 | 2,200 |
| NATIONAL RETAIL PROPERTIES 5.7 | 2,306 | 2,204 |
| NATL RETAIL PROP@1/100 PFD D - | 2,876 | 2,769 |
| NEXTERA ENERGY CAPITAL - 5.700 | 997 | 982 |
| NEXTERA ENERGY CAPITAL HOLDING | 3,792 | 3,663 |
| PARTNERRE LTD | 2,071 | 1,982 |
| PARTNERRE LTD - 7.25% | 1,817 | 1,822 |
| PARTNERRE LTD PFD SER D - 6.50 | 3,938 | 3,715 |
| PNC FINANCIAL SERVICES 6.125% | 12,731 | 12,777 |
| PPL CAPITAL 5.90% PFD | 1,119 | 1,080 |
| PROTECTIVE LIFE CORP - 6.25% - | 2,595 | 2,430 |
| PROTECTIVE LIFE CORPORATION 6% | 1,257 | 1,188 |
| PRUDENTIAL FINANCIAL INC | 2,697 | 2,661 |
| PS BUSINESS PARKS INC - 6.875% | 643 | 624 |
| PS BUSINESS PARKS INC 5.75% | 609 | 576 |
| PS BUSINESS PKS CALIF DEPSHS - | 3,110 | 2,969 |
| PS BUSINESS PKS INC CA DEP SHS | 2,101 | 2,010 |
| PUBLIC STORAGE 5.900% | 3,597 | 3,413 |
| PUBLIC STORAGE 6.5% | 2,294 | 2,127 |
| PUBLIC STORAGE DEP SHS REPSTG | 2,467 | 2,319 |
| PUBLIC STORAGE DEP SHS V - 5.3 | 650 | 605 |
| PUBLIC STORAGE PFD SER A 6.125 | 3,340 | 3,176 |
| PUBLIC STORAGE SH PFD SH INT - | 2,499 | 2,342 |
| QWEST CORP PFD SER A | 4,686 | 4,381 |
| QWEST CORP-7.375%-06/01/2051 | 3,167 | 2,938 |
| QWEST CORPORATION | 1,187 | 1,072 |
| RAYMOND JAMES FINANCIAL - 6.9% | 3,112 | 3,100 |
| REALTY INCOME CORP PFD CL F - | 4,473 | 4,403 |
| REGENCY CENTERS PFD 7 | 640 | 599 |
| REGENCY RED PFD SER 6 - 6.625% | 2,179 | 2,018 |
| REGIONS FINANCIAL CORP 7.000% | 657 | 618 |
| RENAISSANCERE HOLDINGS LTD PRE | 3,282 | 2,529 |
| RENAISSANCERE HOLDINGS LTD. PR | 1,214 | 1,151 |
| ROYAL BANK OF SCOT GRP PLC 6.4 | 990 | 982 |
| ROYAL BK OF SCOT GRP SER L - 5 | 9,563 | 9,472 |
| ROYAL BK OF SCOT GRP SER S - 6 | 1,485 | 1,484 |
| ROYAL BK OF SCOT PFD SER N - 6 | 3,250 | 3,171 |
| ROYL BK OF SCOT PFD SER R - 6. | 1,573 | 1,536 |
| SCANA CORP NEW JR SB NT 7.7% 1 | 583 | 577 |
| SENIOR HSG PPTYS TR-5.625%-08/ | 2,184 | 2,149 |
| STATE STREET CORPORATION PFD S | 3,042 | 3,084 |
| TCF FINANCIAL CORPORATION DEL | 1,960 | 1,924 |
| TELEPHONE & DATA 5.875% PFD 12 | 2,086 | 1,992 |
| TELEPHONE & DATA SYSTEMS INC | 1,034 | 974 |
| TELEPHONE AND DATA SYSTEMS | 2,208 | 2,056 |
| TORCHMARK CORP JR SUB DEB - 5. | 680 | 672 |
| UBS PFD FNDG TR IV PFD - FLOAT | 3,914 | 3,956 |
| US BANCORP - 6.500% PFD | 4,225 | 4,261 |
| US BANCORP 6% | 1,543 | 1,560 |
| US BANCORP DEL DEP SHS REPSTG | 1,816 | 1,717 |
| US BANCORP SER B - FLOAT % - P | 953 | 953 |
| US CELLULAR CORP - 6.95% - 5/1 | 675 | 634 |
| VORNADO REALTY LP PUBLIC INCOM | 7,357 | 7,303 |
| VORNADO REALTY TRUST 6.875% | 1,580 | 1,516 |
| VORNADO RLTY TR PFD SER K - 5. | 1,478 | 1,383 |
| WEINGARTEN REALTY INVESTORS | 1,255 | 1,225 |
| WEINGARTEN REALTY SER F - 6.50 | 752 | 703 |
| WELLS FARGO & CO. (NEW) PRFD ' | 678 | 671 |
| WELLS FARGO & COMPANY DEPOSITA | 8,246 | 7,825 |
| WELLS FARGO NON-CUM PERP CL A | 994 | 974 |
| WFCPP | 1,065 | 986 |
| WR BERKLEY CORP 5.625% 04/30/2 | 2,614 | 2,453 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 7,364 | 7,364 | ||
| Bank Charges | 30 | 30 | ||
| State or Local Filing Fees | 25 | 25 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 5,490 | 5,490 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2013 | 200 | |||
| 990-PF Extension for 2012 | 122 |