Salient Trust

Salient Trust as of Sept. 30, 2011

Portfolio Holdings for Salient Trust

Salient Trust holds 327 positions in its portfolio as reported in the September 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Exxon Mobil Corporation (XOM) 80.4 $375M 5.2M 72.63
Service Corporation International (SCI) 2.3 $11M 1.2M 9.16
Coca-Cola Company (KO) 2.0 $9.1M 135k 67.56
EV Energy Partners 1.9 $8.9M 124k 71.68
Procter & Gamble Company (PG) 1.2 $5.7M 91k 63.18
Altria (MO) 1.0 $4.7M 174k 26.81
Johnson & Johnson (JNJ) 1.0 $4.6M 73k 63.69
Crown Castle International 0.8 $3.9M 96k 40.67
Merck & Co (MRK) 0.6 $2.9M 88k 32.70
Microsoft Corporation (MSFT) 0.6 $2.7M 109k 24.89
Abbott Laboratories (ABT) 0.6 $2.6M 52k 51.13
Travelers Companies (TRV) 0.5 $2.2M 46k 48.73
General Electric Company 0.4 $2.0M 134k 15.22
Berkshire Hathaway (BRK.B) 0.4 $1.7M 24k 71.06
Apache Corporation 0.2 $1.1M 14k 80.23
ConocoPhillips (COP) 0.2 $1.0M 16k 63.31
Intel Corporation (INTC) 0.2 $1.0M 47k 21.33
Exxon Mobil Corporation (XOM) 0.2 $796k 11k 72.66
Duke Energy Corporation 0.2 $808k 40k 19.99
Wells Fargo & Company (WFC) 0.1 $691k 29k 24.12
Rbc Cad (RY) 0.1 $667k 15k 45.70
Eli Lilly & Co. (LLY) 0.1 $595k 16k 36.97
Bk Nova Cad (BNS) 0.1 $508k 10k 50.20
Chevron Corporation (CVX) 0.1 $453k 4.9k 92.62
At&t (T) 0.1 $474k 17k 28.55
Spectra Energy 0.1 $477k 20k 24.52
Home Depot (HD) 0.1 $426k 13k 32.83
El Paso Pipeline Partners 0.1 $399k 11k 35.50
U.S. Bancorp (USB) 0.1 $358k 15k 23.55
American Express Company (AXP) 0.1 $363k 8.1k 44.87
Bank of New York Mellon Corporation (BK) 0.1 $340k 18k 18.60
Altria (MO) 0.1 $333k 12k 26.80
ConocoPhillips (COP) 0.1 $336k 5.3k 63.40
Halliburton Company (HAL) 0.1 $341k 11k 30.51
Pepsi (PEP) 0.1 $342k 5.5k 61.88
USG Corporation 0.1 $318k 47k 6.74
Pfizer (PFE) 0.1 $273k 16k 17.67
Bristol Myers Squibb (BMY) 0.1 $292k 9.3k 31.36
At&t (T) 0.1 $261k 9.2k 28.51
Qualcomm (QCOM) 0.1 $289k 6.0k 48.55
Cash America International 0.1 $281k 5.5k 51.09
El Paso Pipeline Partners 0.1 $266k 7.5k 35.49
Campus Crest Communities 0.1 $283k 26k 10.88
Kinder Morgan (KMI) 0.1 $298k 12k 25.87
Apple (AAPL) 0.1 $214k 560.00 382.14
Schlumberger (SLB) 0.1 $251k 4.2k 59.75
Western Gas Partners 0.1 $251k 7.4k 33.74
Nuveen Insured Municipal Opp. Fund 0.1 $245k 17k 14.41
Johnson & Johnson (JNJ) 0.0 $174k 2.7k 63.74
Pfizer (PFE) 0.0 $179k 10k 17.71
Kraft Foods 0.0 $179k 5.3k 33.54
Procter & Gamble Company (PG) 0.0 $206k 3.3k 63.15
United Technologies Corporation 0.0 $201k 2.9k 70.26
Universal Display Corporation (OLED) 0.0 $171k 3.6k 47.90
Spectra Energy Partners 0.0 $172k 6.1k 28.16
Williams Partners 0.0 $204k 3.8k 54.18
Sunoco Logistics Partners 0.0 $202k 2.3k 88.40
Claymore/BNY Mellon BRIC 0.0 $195k 5.7k 34.35
Rhino Resource Partners 0.0 $177k 10k 17.70
Edelman Finl Group 0.0 $189k 29k 6.45
Bank of America Corporation (BAC) 0.0 $139k 23k 6.11
Suntrust Banks Inc $1.00 Par Cmn 0.0 $163k 9.1k 18.00
Caterpillar (CAT) 0.0 $159k 2.2k 73.95
Abbott Laboratories (ABT) 0.0 $152k 3.0k 51.18
3M Company (MMM) 0.0 $139k 1.9k 71.54
3M Company (MMM) 0.0 $118k 1.6k 71.73
Cisco Systems (CSCO) 0.0 $145k 9.4k 15.49
Verizon Communications (VZ) 0.0 $136k 3.7k 36.76
Nextera Energy (NEE) 0.0 $121k 2.2k 53.92
Target Corporation (TGT) 0.0 $160k 3.3k 48.93
Ford Motor Company (F) 0.0 $151k 16k 9.69
MarkWest Energy Partners 0.0 $125k 2.7k 46.13
BreitBurn Energy Partners 0.0 $130k 7.5k 17.41
SPDR Gold Trust (GLD) 0.0 $122k 769.00 158.65
SPDR Gold Trust (GLD) 0.0 $163k 1.0k 158.25
Crosstex Energy 0.0 $161k 9.9k 16.26
Alliance Holdings GP 0.0 $140k 3.2k 44.03
Inergy 0.0 $143k 5.7k 24.95
Sunoco Logistics Partners 0.0 $129k 1.5k 88.66
Camden Property Trust (CPT) 0.0 $128k 2.3k 55.17
Targa Res Corp (TRGP) 0.0 $150k 5.0k 29.73
Targa Res Corp (TRGP) 0.0 $121k 4.1k 29.69
Qr Energy 0.0 $117k 6.0k 19.50
Starwood Property Trust (STWD) 0.0 $76k 4.4k 17.27
Bank of New York Mellon Corporation (BK) 0.0 $78k 4.2k 18.55
McDonald's Corporation (MCD) 0.0 $88k 1.0k 88.00
Home Depot (HD) 0.0 $90k 2.7k 32.97
Walt Disney Company (DIS) 0.0 $73k 2.4k 30.23
Duke Energy Corporation 0.0 $100k 5.0k 20.00
General Electric Company 0.0 $90k 5.9k 15.20
Cummins (CMI) 0.0 $116k 1.4k 81.92
Intel Corporation (INTC) 0.0 $74k 3.5k 21.44
Medtronic 0.0 $100k 3.0k 33.22
Comerica Incorporated (CMA) 0.0 $101k 4.4k 22.93
E.I. du Pont de Nemours & Company 0.0 $86k 2.2k 40.00
E.I. du Pont de Nemours & Company 0.0 $90k 2.3k 40.00
Alcoa 0.0 $78k 8.1k 9.59
Allergan 0.0 $81k 980.00 82.65
Allergan 0.0 $113k 1.4k 82.18
Apple (AAPL) 0.0 $84k 220.00 381.82
CIGNA Corporation 0.0 $76k 1.8k 41.80
Pepsi (PEP) 0.0 $110k 1.8k 61.62
Schlumberger (SLB) 0.0 $89k 1.5k 59.53
Target Corporation (TGT) 0.0 $75k 1.5k 49.18
Qualcomm (QCOM) 0.0 $83k 1.7k 48.54
Ford Motor Company (F) 0.0 $106k 11k 9.66
Exelon Corporation (EXC) 0.0 $85k 2.0k 42.61
Fortune Brands 0.0 $102k 1.9k 54.23
EMC Corporation 0.0 $83k 4.0k 20.91
EMC Corporation 0.0 $72k 3.4k 20.93
MarkWest Energy Partners 0.0 $79k 1.7k 45.66
Vornado Realty Trust (VNO) 0.0 $100k 1.3k 74.79
Ventas (VTR) 0.0 $72k 1.5k 49.48
Crosstex Energy 0.0 $90k 5.6k 16.17
CenterPoint Energy (CNP) 0.0 $100k 5.1k 19.53
Douglas Emmett (DEI) 0.0 $71k 4.2k 17.11
Dorchester Minerals (DMLP) 0.0 $97k 4.1k 23.66
MetLife (MET) 0.0 $73k 2.6k 28.02
NuStar Energy 0.0 $110k 2.1k 52.38
Spectra Energy Partners 0.0 $93k 3.3k 28.31
Teekay Offshore Partners 0.0 $97k 4.0k 24.56
Teekay Offshore Partners 0.0 $75k 3.0k 24.71
Alliance Holdings GP 0.0 $75k 1.7k 43.86
Energy Transfer Partners 0.0 $82k 2.0k 41.00
EastGroup Properties (EGP) 0.0 $94k 2.5k 38.21
HCP 0.0 $86k 2.4k 35.17
Macerich Company (MAC) 0.0 $76k 1.8k 42.82
Macerich Company (MAC) 0.0 $111k 2.6k 42.81
Boston Properties (BXP) 0.0 $116k 1.3k 89.23
Liberty Property Trust 0.0 $77k 2.7k 29.06
Udr (UDR) 0.0 $79k 3.6k 22.01
Udr (UDR) 0.0 $109k 4.9k 22.11
UQM Technologies 0.0 $74k 44k 1.67
Kinder Morgan (KMI) 0.0 $114k 4.4k 25.97
Goldman Sachs (GS) 0.0 $53k 565.00 93.81
JPMorgan Chase & Co. (JPM) 0.0 $33k 1.1k 30.00
Starwood Property Trust (STWD) 0.0 $51k 3.0k 17.00
Berkshire Hathaway (BRK.B) 0.0 $25k 350.00 71.43
Coca-Cola Company (KO) 0.0 $27k 400.00 67.50
Peabody Energy Corporation 0.0 $61k 1.8k 33.61
Baxter International (BAX) 0.0 $65k 1.2k 55.89
Walt Disney Company (DIS) 0.0 $59k 2.0k 30.26
Chevron Corporation (CVX) 0.0 $42k 450.00 93.33
Bristol Myers Squibb (BMY) 0.0 $25k 800.00 31.25
Apache Corporation 0.0 $40k 500.00 80.00
Cisco Systems (CSCO) 0.0 $46k 3.0k 15.34
Public Storage (PSA) 0.0 $44k 395.00 111.39
Spectra Energy 0.0 $38k 1.6k 24.52
McGraw-Hill Companies 0.0 $27k 650.00 41.54
Union Pacific Corporation (UNP) 0.0 $34k 420.00 80.95
Dow Chemical Company 0.0 $31k 1.4k 22.14
Verizon Communications (VZ) 0.0 $53k 1.5k 36.55
Emerson Electric (EMR) 0.0 $65k 1.6k 41.30
Equity Residential (EQR) 0.0 $52k 1.0k 52.00
Equity Residential (EQR) 0.0 $27k 525.00 51.43
National-Oilwell Var 0.0 $58k 1.1k 51.56
National-Oilwell Var 0.0 $26k 512.00 50.78
Valero Energy Corporation (VLO) 0.0 $24k 1.4k 17.45
Yum! Brands (YUM) 0.0 $39k 785.00 49.68
Alcoa 0.0 $52k 5.4k 9.55
Nextera Energy (NEE) 0.0 $43k 795.00 54.09
Praxair 0.0 $30k 325.00 92.31
Walgreen Company 0.0 $33k 1.0k 33.00
American Electric Power Company (AEP) 0.0 $29k 755.00 38.41
Apollo 0.0 $32k 800.00 40.00
Southern Company (SO) 0.0 $40k 935.00 42.78
NuStar GP Holdings 0.0 $31k 1.0k 31.00
Google 0.0 $31k 60.00 516.67
Vornado Realty Trust (VNO) 0.0 $55k 735.00 74.83
BreitBurn Energy Partners 0.0 $39k 2.2k 17.41
Linn Energy 0.0 $68k 1.9k 35.79
Ventas (VTR) 0.0 $35k 705.00 49.64
Glimcher Realty Trust 0.0 $34k 4.8k 7.16
Glimcher Realty Trust 0.0 $41k 5.8k 7.07
Hersha Hospitality Trust 0.0 $30k 8.8k 3.41
Juniper Networks (JNPR) 0.0 $27k 1.6k 17.42
Douglas Emmett (DEI) 0.0 $56k 3.3k 16.97
Gulfport Energy Corporation 0.0 $24k 1.0k 24.00
MetLife (MET) 0.0 $53k 1.9k 27.75
Energy Transfer Partners 0.0 $54k 1.3k 40.91
Holly Energy Partners 0.0 $37k 750.00 49.33
Inergy 0.0 $67k 2.7k 25.02
BRE Properties 0.0 $59k 1.4k 42.14
EastGroup Properties (EGP) 0.0 $59k 1.6k 38.06
Extra Space Storage (EXR) 0.0 $37k 2.0k 18.50
Extra Space Storage (EXR) 0.0 $25k 1.4k 18.52
HCP 0.0 $52k 1.5k 34.90
Boston Properties (BXP) 0.0 $65k 735.00 88.44
Liberty Property Trust 0.0 $29k 1.0k 29.00
Oneok (OKE) 0.0 $50k 750.00 66.67
Dollar General (DG) 0.0 $24k 635.00 37.80
Camden Property Trust (CPT) 0.0 $51k 925.00 55.14
Pebblebrook Hotel Trust (PEB) 0.0 $39k 2.5k 15.60
CoreSite Realty 0.0 $36k 2.5k 14.40
CoreSite Realty 0.0 $56k 3.9k 14.45
Motorola Solutions (MSI) 0.0 $29k 685.00 42.34
Vanguard REIT ETF (VNQ) 0.0 $27k 521.00 51.82
Nuveen Premium Income Muni Fd 4 0.0 $24k 1.9k 12.45
Petroleum & Resources Corporation 0.0 $64k 2.8k 22.72
American Assets Trust Inc reit (AAT) 0.0 $35k 2.0k 17.95
American Assets Trust Inc reit (AAT) 0.0 $60k 3.4k 17.83
Microsoft Corporation (MSFT) 0.0 $192.400000 8.00 24.05
Corning Incorporated (GLW) 0.0 $10k 845.00 11.83
American Express Company (AXP) 0.0 $12k 275.00 43.64
Bank of America Corporation (BAC) 0.0 $13k 2.2k 6.04
Ameriprise Financial (AMP) 0.0 $6.0k 150.00 40.00
Caterpillar (CAT) 0.0 $14k 185.00 75.68
CSX Corporation (CSX) 0.0 $8.0k 450.00 17.78
Devon Energy Corporation (DVN) 0.0 $4.0k 75.00 53.33
Range Resources (RRC) 0.0 $10k 170.00 58.82
Peabody Energy Corporation 0.0 $6.0k 175.00 34.29
Eli Lilly & Co. (LLY) 0.0 $7.0k 200.00 35.00
Norfolk Southern (NSC) 0.0 $6.0k 100.00 60.00
India Fund (IFN) 0.0 $5.0k 210.00 23.81
Medco Health Solutions 0.0 $5.0k 96.00 52.08
Host Hotels & Resorts (HST) 0.0 $14k 1.3k 11.20
Kohl's Corporation (KSS) 0.0 $15k 300.00 50.00
Paychex (PAYX) 0.0 $18k 675.00 26.67
Public Storage (PSA) 0.0 $23k 210.00 109.52
SYSCO Corporation (SYY) 0.0 $18k 710.00 25.35
SYSCO Corporation (SYY) 0.0 $10k 400.00 25.00
Travelers Companies (TRV) 0.0 $999.970000 19.00 52.63
Wells Fargo & Company (WFC) 0.0 $280.320000 12.00 23.36
Automatic Data Processing (ADP) 0.0 $9.0k 200.00 45.00
Suno 0.0 $16k 524.00 30.53
Dow Chemical Company 0.0 $420.160000 16.00 26.26
Harley-Davidson (HOG) 0.0 $999.900000 30.00 33.33
Johnson Controls 0.0 $22k 850.00 25.88
Morgan Stanley (MS) 0.0 $240.000000 15.00 16.00
Avista Corporation (AVA) 0.0 $8.0k 340.00 23.53
International Paper Company (IP) 0.0 $2.0k 100.00 20.00
Raytheon Company 0.0 $12k 300.00 40.00
Valero Energy Corporation (VLO) 0.0 $7.0k 375.00 18.67
CVS Caremark Corporation (CVS) 0.0 $2.0k 50.00 40.00
Sappi (SPPJY) 0.0 $2.0k 500.00 4.00
Thermo Fisher Scientific (TMO) 0.0 $3.0k 60.00 50.00
Health Care REIT 0.0 $22k 475.00 46.32
Health Care REIT 0.0 $9.0k 200.00 45.00
Goodyear Tire & Rubber Company (GT) 0.0 $2.0k 150.00 13.33
Sprint Nextel Corporation 0.0 $191.520000 63.00 3.04
Plum Creek Timber 0.0 $21k 600.00 35.00
Anadarko Petroleum Corporation 0.0 $16k 250.00 64.00
Baker Hughes Incorporated 0.0 $12k 262.00 45.80
Fluor Corporation (FLR) 0.0 $11k 230.00 47.83
Honeywell International (HON) 0.0 $3.0k 75.00 40.00
Merck & Co (MRK) 0.0 $13k 400.00 32.50
News Corporation 0.0 $12k 800.00 15.00
Occidental Petroleum Corporation (OXY) 0.0 $11k 150.00 73.33
Texas Instruments Incorporated (TXN) 0.0 $9.0k 350.00 25.71
United Technologies Corporation 0.0 $14k 200.00 70.00
UnitedHealth (UNH) 0.0 $14k 308.00 45.45
Exelon Corporation (EXC) 0.0 $7.0k 160.00 43.75
Dell 0.0 $999.900000 45.00 22.22
Dell 0.0 $154.000000 11.00 14.00
Fortune Brands 0.0 $15k 275.00 54.55
Starbucks Corporation (SBUX) 0.0 $14k 375.00 37.33
Whole Foods Market 0.0 $16k 250.00 64.00
EOG Resources (EOG) 0.0 $21k 300.00 70.00
NuStar GP Holdings 0.0 $21k 700.00 30.00
Sap (SAP) 0.0 $5.0k 100.00 50.00
Clorox Company (CLX) 0.0 $9.0k 135.00 66.67
Prudential Financial (PRU) 0.0 $2.0k 50.00 40.00
Dryships/drys 0.0 $2.0k 1.0k 2.00
St. Joe Company (JOE) 0.0 $999.810000 63.00 15.87
PPL Corporation (PPL) 0.0 $19k 680.00 27.94
Hersha Hospitality Trust 0.0 $23k 6.7k 3.43
Ctrip.com International 0.0 $6.0k 200.00 30.00
Juniper Networks (JNPR) 0.0 $11k 630.00 17.46
Entergy Corporation (ETR) 0.0 $2.0k 25.00 80.00
American Capital 0.0 $999.780000 114.00 8.77
Crosstex Energy 0.0 $7.0k 500.00 14.00
Excel Maritime Carriers L 0.0 $208.000000 100.00 2.08
Zions Bancorporation (ZION) 0.0 $12k 878.00 13.67
Huntsman Corporation (HUN) 0.0 $4.0k 400.00 10.00
LDK Solar 0.0 $3.0k 1.0k 3.00
Oplink Communications 0.0 $999.950000 35.00 28.57
Resource Capital 0.0 $2.0k 300.00 6.67
Western Gas Partners 0.0 $15k 455.00 32.97
AllianceBernstein Holding (AB) 0.0 $1.0k 100.00 10.00
American Campus Communities 0.0 $13k 350.00 37.14
Cogdell Spencer 0.0 $5.0k 1.4k 3.57
Cogdell Spencer 0.0 $7.0k 1.9k 3.73
Canadian Solar (CSIQ) 0.0 $13k 2.0k 6.28
Dorchester Minerals (DMLP) 0.0 $12k 500.00 24.00
Southwest Airlines (LUV) 0.0 $5.0k 600.00 8.33
Rowan Companies 0.0 $21k 683.00 30.75
A. Schulman 0.0 $1.0k 54.00 18.52
Sirius XM Radio 0.0 $1.0k 500.00 2.00
TransMontaigne Partners 0.0 $12k 350.00 34.29
Williams Partners 0.0 $15k 280.00 53.57
Abb (ABBNY) 0.0 $21k 1.3k 16.80
Aluminum Corp. of China 0.0 $2.0k 205.00 9.76
China Life Insurance Company 0.0 $4.0k 100.00 40.00
Cheniere Energy (LNG) 0.0 $5.0k 1.0k 5.00
BRE Properties 0.0 $21k 500.00 42.00
Realty Income (O) 0.0 $18k 570.00 31.58
Tanger Factory Outlet Centers (SKT) 0.0 $13k 500.00 26.00
Northstar Realty Finance 0.0 $1.0k 400.00 2.50
Carriage Services (CSV) 0.0 $20k 3.3k 6.06
iShares MSCI Hong Kong Index Fund (EWH) 0.0 $10k 700.00 14.29
Ivanhoe Mines 0.0 $999.750000 75.00 13.33
Patriot Coal Corp 0.0 $999.740000 74.00 13.51
American International (AIG) 0.0 $999.940000 34.00 29.41
American International (AIG) 0.0 $4.0k 164.00 24.39
American International (AIG) 0.0 $999.780000 57.00 17.54
Hatteras Financial 0.0 $3.0k 100.00 30.00
Oneok (OKE) 0.0 $15k 225.00 66.67
American Capital Agency 0.0 $5.0k 200.00 25.00
Cardtronics 0.0 $23k 1.0k 23.00
iShares Silver Trust (SLV) 0.0 $11k 375.00 29.33
Evolution Petroleum Corporation (EPM) 0.0 $18k 2.5k 7.20
U.S. Energy 0.0 $6.0k 2.4k 2.50
Hudson Pacific Properties (HPP) 0.0 $19k 1.6k 11.88
Hudson Pacific Properties (HPP) 0.0 $17k 1.5k 11.33
Pebblebrook Hotel Trust (PEB) 0.0 $16k 1.0k 15.46
First Potomac Realty Trust 0.0 $4.0k 300.00 13.33
General Growth Properties 0.0 $6.0k 500.00 12.00
Chatham Lodging Trust (CLDT) 0.0 $6.0k 650.00 9.23
Parkway Properties 0.0 $20k 1.8k 11.11
Parkway Properties 0.0 $23k 2.1k 10.95
Vanguard REIT ETF (VNQ) 0.0 $1.0k 24.00 41.67
Hyperdynamics Corp 0.0 $19k 5.0k 3.80
LightPath Technologies (LPTH) 0.0 $360.000000 250.00 1.44
Te Connectivity Ltd for 0.0 $337.680000 12.00 28.14
Citigroup (C) 0.0 $2.0k 76.00 26.32
Citigroup (C) 0.0 $0 8.00 0.00
Renren Inc- 0.0 $7.0k 1.4k 5.19