Garland Capital Management

Garland Capital Management as of June 30, 2012

Portfolio Holdings for Garland Capital Management

Garland Capital Management holds 0 positions in its portfolio as reported in the June 2012 quarterly 13F filing

                Voting Authority
                                     			Value                 	Shares/	Sh/	Put/	Invstmt	Other 	-----------------------------------
Name of Issuer	Title of Class	CUSIP	(x$1000)	Prn Amt	Prn	Call	Dscretn	Managers	Sole	Shared	None
-----------------------	--------	----------	-----------	----------	---------	--------	---------	--------	-------	-------	--------
{S}	{C}	{C}	{C}	{C}	{C}	{C}	{C}	{C}	{C}	{C}	{C}
3M Company                           	COM	88579Y101	3310720	36950	SH		Sole		36950
Abbott Labs                          	COM	002824100	3921259	60823	SH		Sole		60823
ABM Industries Inc.                  	COM	000957100	1881085	96170	SH		Sole		96170
AT^T Corp.                           	COM	001957109	2616553	73375	SH		Sole		73375
Avery Dennison Corp.                 	COM	053611109	1256957	45975	SH		Sole		45975
Bank New York Mellon                 	COM	064057102	1709905	77900	SH		Sole		77900
Baxter International Inc.            	COM	071813109	2211040	41600	SH		Sole		41600
Buckle Inc.                          	COM	118440106	2815406	71150	SH		Sole		71150
Chevron Corp.                        	COM	166764100	3266280	30960	SH		Sole		30960
Digital Realty Trust                 	COM	253868103	3081624	41050	SH		Sole		41050
Du Pont E I De Nemours               	COM	263534109	3093620	61175	SH		Sole		61175
Duke-Weeks Realty Corp.              	COM	264411505	1898076	129650	SH		Sole		129650
Exxon Mobil Corp.                    	COM	30231G102	2633845	30780	SH		Sole		30780
General Electric                     	COM	369604103	2555901	122644	SH		Sole		122644
H.J. Heinz Co.                       	COM	423074103	3037395	55855	SH		Sole		55855
HCP Inc.                             	COM	421915109	3392928	76850	SH		Sole		76850
Health Care Reit Inc.                	COM	42217K106	3158403	54175	SH		Sole		54175
Hewlett Packard                      	COM	428236103	1675163	83300	SH		Sole		83300
Home Depot Inc.                      	COM	437076102	4191509	79100	SH		Sole		79100
Home Properties Inc.                 	COM	437306103	2621606	42725	SH		Sole		42725
Hospitality Properties Trust         	COM	44106m102	1649063	66575	SH		Sole		66575
Illinois Tool Works                  	COM	452308109	3499202	66160	SH		Sole		66160
International Bus Mach               	COM	459200101	4124782	21090	SH		Sole		21090
J P Morgan Chase & Co Com            	COM	46625H100	2215260	62000	SH		Sole		62000
Johnson & Johnson                    	COM	478160104	3157079	46730	SH		Sole		46730
Liberty Property Trust               	COM	531172104	2548591	69180	SH		Sole		69180
Mack-Cali Realty Corp.               	COM	554489104	1972400	67850	SH		Sole		67850
Masco Corp.                          	COM	574599106	1266123	91285	SH		Sole		91285
McCormick & Co. Inc.                 	COM	579780206	3284501	54155	SH		Sole		54155
Microsoft Corp.                      	COM	594918104	2783690	91000	SH		Sole		91000
Novartis AG                          	COM	66987v109	2364570	42300	SH		Sole		42300
Pepsico Inc.                         	COM	713448108	2527862	35775	SH		Sole		35775
Pfizer Inc.                          	COM	717081103	2928292	127317	SH		Sole		127317
Procter & Gamble Co.                 	COM	742718109	2825156	46125	SH		Sole		46125
"Prologis, Inc.                       "	COM	743410102	2332746	70200	SH		Sole		70200
Roche Holding AG                     	COM	771195104	2890554	66880	SH		Sole		66880
Tiffany & Co New                     	COM	886547108	2237138	42250	SH		Sole		42250
Total SA                             	COM	89151E109	1592354	35425	SH		Sole		35425
Travelers Companies Inc              	COM	89417E109	2457840	38500	SH		Sole		38500
Unilever Plc.                        	COM	904767704	3369121	99885	SH		Sole		99885
United Parcel Service                	COM	911312106	2524258	32050	SH		Sole		32050
United Technologies Corp.            	COM	913017109	3152245	41735	SH		Sole		41735
Vanguard Index Fds Value Viper       	COM	922908744	236347	4225	SH		Sole		4225
Wal-Mart Stores Inc.                 	COM	931142103	3541776	50800	SH		Sole		50800
Waste Management Inc.                	COM	94106L109	2007340	60100	SH		Sole		60100