Garland Capital Management

Garland Capital Management as of Dec. 31, 2012

Portfolio Holdings for Garland Capital Management

Garland Capital Management holds 0 positions in its portfolio as reported in the December 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	3514	37850	SH		Sole		37850
Abbott Labs                          	COM	002824100	4048	61798	SH		Sole		61798
ABM Industries Inc.                  	COM	000957100	2051	102820	SH		Sole		102820
AT^T Corp.                           	COM	001957109	2563	76040	SH		Sole		76040
Bank New York Mellon                 	COM	064057102	2177	84700	SH		Sole		84700
Baxter International Inc.            	COM	071813109	2913	43700	SH		Sole		43700
Buckle Inc.                          	COM	118440106	3265	73150	SH		Sole		73150
Chevron Corp.                        	COM	166764100	3407	31510	SH		Sole		31510
Digital Realty Trust                 	COM	253868103	2943	43350	SH		Sole		43350
Du Pont E I De Nemours               	COM	263534109	2880	64025	SH		Sole		64025
Duke-Weeks Realty Corp.              	COM	264411505	2103	151600	SH		Sole		151600
Exxon Mobil Corp.                    	COM	30231G102	2790	32230	SH		Sole		32230
General Electric                     	COM	369604103	2672	127294	SH		Sole		127294
H.J. Heinz Co.                       	COM	423074103	3262	56555	SH		Sole		56555
HCP Inc.                             	COM	421915109	3572	79100	SH		Sole		79100
Health Care Reit Inc.                	COM	42217K106	3425	55875	SH		Sole		55875
Hewlett Packard                      	COM	428236103	1307	91750	SH		Sole		91750
Home Properties Inc.                 	COM	437306103	2725	44450	SH		Sole		44450
Hospitality Properties Trust         	COM	44106m102	1744	74475	SH		Sole		74475
Illinois Tool Works                  	COM	452308109	4069	66910	SH		Sole		66910
International Bus Mach               	COM	459200101	4165	21745	SH		Sole		21745
J P Morgan Chase & Co Com            	COM	46625H100	2836	64500	SH		Sole		64500
Johnson & Johnson                    	COM	478160104	3349	47780	SH		Sole		47780
Liberty Property Trust               	COM	531172104	2607	72830	SH		Sole		72830
Mack-Cali Realty Corp.               	COM	554489104	2094	80200	SH		Sole		80200
Masco Corp.                          	COM	574599106	1709	102585	SH		Sole		102585
Microsoft Corp.                      	COM	594918104	2610	97700	SH		Sole		97700
Novartis AG                          	COM	66987v109	2779	43900	SH		Sole		43900
Pepsico Inc.                         	COM	713448108	2549	37250	SH		Sole		37250
Pfizer Inc.                          	COM	717081103	3226	128617	SH		Sole		128617
Procter & Gamble Co.                 	COM	742718109	3247	47825	SH		Sole		47825
"Prologis, Inc.                       "	COM	743410102	2769	75875	SH		Sole		75875
Roche Holding AG                     	COM	771195104	3446	68230	SH		Sole		68230
St Jude Med Inc Com                  	COM	790849103	3146	87050	SH		Sole		87050
Tiffany & Co New                     	COM	886547108	2532	44150	SH		Sole		44150
Total SA                             	COM	89151e109	2066	39725	SH		Sole		39725
Travelers Companies Inc              	COM	89417E109	2851	39700	SH		Sole		39700
Unilever Plc.                        	COM	904767704	3946	101905	SH		Sole		101905
United Parcel Service                	COM	911312106	2546	34525	SH		Sole		34525
United Technologies Corp.            	COM	913017109	3562	43435	SH		Sole		43435
Wal-Mart Stores Inc.                 	COM	931142103	3509	51425	SH		Sole		51425
Waste Management Inc.                	COM	94106L109	2218	65750	SH		Sole		65750