Ar Asset Management 13F-HR/A Quarterly holdings report by institutional manager (amended)

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

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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
AT&T INC	COM	78387G103	2,568	59,438	SH		SOLE		0	0	59,438
ABBVIE INC.	COM	00287y109	755	12,200	SH		SOLE		0	0	12,200
ABBOTT LABORATORIES	COM	002824100	342	8,700	SH		SOLE		0	0	8,700
ALLEGHANY CORP	COM	017175100	876	1,594	SH		SOLE		0	0	1,594
ALPHABET INC CL C	COM	02079K107	554	800	SH		SOLE		0	0	800
ALTRIA GROUP INC	COM	02209S103	7,158	103,806	SH		SOLE		0	0	103,806
AMERICAN AIRLINES GROUP INC.	COM	02376R102	872	30,800	SH		SOLE		0	0	30,800
AMERICAN ELECTRIC POWER	COM	025537101	701	10,000	SH		SOLE		0	0	10,000
ANHEUSER-BUSCH INBEV NV SPN AD	COM	03524A108	751	5,700	SH		SOLE		0	0	5,700
AON PLC	COM	037389103	1,269	11,618	SH		SOLE		0	0	11,618
APOLLO INVESTMENT CORPORATION	COM	03761U106	277	50,000	SH		SOLE		0	0	50,000
APPLE INC	COM	037833100	8,043	84,135	SH		SOLE		0	0	84,135
ARCHER-DANIELS-MIDLAND CORP	COM	039483102	436	10,172	SH		SOLE		0	0	10,172
ASTRAZENECA PLC-SPONS ADR	COM	046353108	242	8,000	SH		SOLE		0	0	8,000
AVALONBAY COMMUNITIES, INC REI	COM	053484101	902	5,000	SH		SOLE		0	0	5,000
BP PLC SPONS ADR	COM	055622104	449	12,642	SH		SOLE		0	0	12,642
BANCO SANTANDER SA ADR	COM	05964h105	419	106,987	SH		SOLE		0	0	106,987
BANK OF AMERICA (NEW)	COM	060505104	770	58,017	SH		SOLE		0	0	58,017
BANK OF HAWAII CORPORATION	COM	062540109	1,032	15,000	SH		SOLE		0	0	15,000
BAXTER INT'L INC	COM	071813109	231	5,106	SH		SOLE		0	0	5,106
BERKSHIRE HATHAWAY CL B	COM	084670207	2,898	20,014	SH		SOLE		0	0	20,014
BERKSHIRE HATHAWAY INC CL A	COM	084670108	3,906	18	SH		SOLE		0	0	18
BLACKROCK CAPITAL INVESTMENT C	COM	092533108	214	27,500	SH		SOLE		0	0	27,500
BLACKSTONE GROUP LP (THE)	COM	09253u108	280	11,400	SH		SOLE		0	0	11,400
BOEING CO	COM	097023105	890	6,850	SH		SOLE		0	0	6,850
BOSTON PROPERTIES INC. REIT	COM	101121101	791	6,000	SH		SOLE		0	0	6,000
BRISTOL-MYERS SQUIBB CO	COM	110122108	4,407	59,924	SH		SOLE		0	0	59,924
CK HUTCHISON HOLDINGS(FRM CHEU	COM	166744201	329	30,000	SH		SOLE		0	0	30,000
CHEVRON CORP	COM	166764100	12,527	119,496	SH		SOLE		0	0	119,496
CHUBB LIMITED (FRMLY ACE LIMIT	COM	H1467J104	1,975	15,106	SH		SOLE		0	0	15,106
CISCO SYSTEMS INC	COM	17275R102	623	21,700	SH		SOLE		0	0	21,700
COCA-COLA CO	COM	191216100	7,116	156,990	SH		SOLE		0	0	156,990
COCA-COLA EUROPEAN PARTNERS PL	COM	19122T109	964	27,000	SH		SOLE		0	0	27,000
CONOCOPHILLIPS	COM	20825c104	859	19,700	SH		SOLE		0	0	19,700
CONSTELLATION BRANDS, INC.	COM	21036P108	331	2,000	SH		SOLE		0	0	2,000
CORPORATE OFFICE PROPERTY TRUS	COM	22002T108	269	9,100	SH		SOLE		0	0	9,100
DELTA AIR LINES INC	COM	247361702	219	6,000	SH		SOLE		0	0	6,000
DIAGEO PLC ADR	COM	25243Q205	5,276	46,740	SH		SOLE		0	0	46,740
DISNEY WALT CO	COM	254687106	1,714	17,520	SH		SOLE		0	0	17,520
EMERSON ELECTRIC CO	COM	291011104	372	7,130	SH		SOLE		0	0	7,130
ENTERPRISE PRODUCTS PARTNERS L	COM	293792107	1,416	48,380	SH		SOLE		0	0	48,380
EQUITY COMMONWEALTH REIT(FRMLY	COM	294628102	6,918	237,500	SH		SOLE		0	0	237,500
EXPEDIA INC (IAC/INTERACTIVECO	COM	30212p105	532	5,000	SH		SOLE		0	0	5,000
EXPRESS SCRIPTS HOLDING CO	COM	302182100	1,854	24,460	SH		SOLE		0	0	24,460
EXXON MOBIL CORPORATION	COM	30231G102	15,266	162,856	SH		SOLE		0	0	162,856
FNF GROUP (FIDELITY NATL FINCL	COM	31620r303	392	10,458	SH		SOLE		0	0	10,458
FACEBOOK INC	COM	30303M102	1,166	10,200	SH		SOLE		0	0	10,200
FIDELITY NATIONAL INFORMATION	COM	31620m106	395	5,364	SH		SOLE		0	0	5,364
FORD MOTOR COMPANY	COM	345370860	1,000	79,585	SH		SOLE		0	0	79,585
GENERAL GROWTH PROPERTIES - RE	COM	370021107	1,337	44,846	SH		SOLE		0	0	44,846
GENERAL MILLS INC	COM	370334104	1,462	20,500	SH		SOLE		0	0	20,500
GENERAL MOTORS CO	COM	37045v100	3,998	141,280	SH		SOLE		0	0	141,280
GILEAD SCIENCES, INC	COM	375558103	901	10,800	SH		SOLE		0	0	10,800
HSBC HOLDINGS PLC LTD ADR	COM	404280406	400	12,780	SH		SOLE		0	0	12,780
HOME DEPOT	COM	437076102	3,013	23,600	SH		SOLE		0	0	23,600
HOWARD HUGHES CORP (THE)(SPINO	COM	44267d107	491	4,296	SH		SOLE		0	0	4,296
IAC/INTERACTIVECORP	COM	44919p508	282	5,000	SH		SOLE		0	0	5,000
INTEL CORP	COM	458140100	1,853	56,500	SH		SOLE		0	0	56,500
INTERNATIONAL BUSINESS MACHINE	COM	459200101	7,770	51,192	SH		SOLE		0	0	51,192
JPMORGAN CHASE & CO.	COM	46625H100	5,060	81,434	SH		SOLE		0	0	81,434
JOHNSON & JOHNSON	COM	478160104	4,562	37,610	SH		SOLE		0	0	37,610
KKR & CO. LP	COM	48248m102	222	18,000	SH		SOLE		0	0	18,000
KIMBERLY-CLARK	COM	494368103	2,007	14,600	SH		SOLE		0	0	14,600
KRAFT HEINZ CO (THE)	COM	500754106	2,089	23,609	SH		SOLE		0	0	23,609
LOEWS CORP	COM	540424108	3,348	81,477	SH		SOLE		0	0	81,477
MACY'S INC. (FORMERLY FEDERATE	COM	55616P104	2,949	87,756	SH		SOLE		0	0	87,756
MERCK & CO.	COM	58933Y105	8,052	139,770	SH		SOLE		0	0	139,770
MICROSOFT CORP	COM	594918104	721	14,100	SH		SOLE		0	0	14,100
MONDELEZ INTL INC (FMRLY KRAFT	COM	609207105	2,096	46,053	SH		SOLE		0	0	46,053
NESTLE ADR	COM	641069406	1,113	14,400	SH		SOLE		0	0	14,400
NEW YORK COMMUNITY BANCORP, IN	COM	649445103	1,437	95,850	SH		SOLE		0	0	95,850
NIKE INC., CL B	COM	654106103	2,208	40,000	SH		SOLE		0	0	40,000
NOVARTIS AG - ADR	COM	66987v109	1,427	17,300	SH		SOLE		0	0	17,300
PEPSICO	COM	713448108	4,620	43,609	SH		SOLE		0	0	43,609
PFIZER, INC.	COM	717081103	4,473	127,050	SH		SOLE		0	0	127,050
PHILIP MORRIS INTERNATIONAL-AL	COM	718172109	11,749	115,506	SH		SOLE		0	0	115,506
PHILLIPS 66	COM	718546104	781	9,850	SH		SOLE		0	0	9,850
PROSHARES ULTRASHORT 20+ YEAR	COM	74347b201	285	9,000	SH		SOLE		0	0	9,000
PROCTER & GAMBLE CO	COM	742718109	6,390	75,464	SH		SOLE		0	0	75,464
PUBLIC STORAGE - REIT	COM	74460D109	610	2,388	SH		SOLE		0	0	2,388
QUALCOMM INC.	COM	747525103	1,752	32,700	SH		SOLE		0	0	32,700
RALPH LAUREN CORP (FMLY POLO R	COM	731572103	269	3,000	SH		SOLE		0	0	3,000
REXFORD INDUSTRIAL REALTY, INC	COM	76169c100	443	21,000	SH		SOLE		0	0	21,000
REYNOLDS AMERICAN INC	COM	761713106	3,260	60,450	SH		SOLE		0	0	60,450
RIO TINTO PLC SPONSORED ADR	COM	767204100	329	10,500	SH		SOLE		0	0	10,500
ROCHE HOLDINGS LTD ADR	COM	771195104	2,921	88,650	SH		SOLE		0	0	88,650
ROYAL DUTCH SHELL PLC - ADR A	COM	780259206	6,454	116,870	SH		SOLE		0	0	116,870
SEMPRA ENERGY	COM	816851109	1,140	10,000	SH		SOLE		0	0	10,000
SIMON PROPERTY GROUP, INC. REI	COM	828806109	564	2,600	SH		SOLE		0	0	2,600
SINGAPORE AIRLINES	COM	870794302	675	87,911	SH		SOLE		0	0	87,911
SWIRE PACIFIC LTD SPONS ADR RP	COM	870794302	455	40,000	SH		SOLE		0	0	40,000
SYSCO CORP	COM	871829107	507	10,000	SH		SOLE		0	0	10,000
TANGER FACTORY OUTLET REIT	COM	875465106	1,013	25,200	SH		SOLE		0	0	25,200
TARGET CORP-FRMLY DAYTON HUDSO	COM	87612E106	2,159	30,920	SH		SOLE		0	0	30,920
TEVA PHARMACEUTICALS ADR	COM	881624209	502	10,000	SH		SOLE		0	0	10,000
TEXAS INSTRUMENTS INC.	COM	882508104	627	10,000	SH		SOLE		0	0	10,000
TIFFANY & CO	COM	886547108	503	8,300	SH		SOLE		0	0	8,300
TOTAL SA SPON ADR	COM	89151E109	2,496	51,895	SH		SOLE		0	0	51,895
TRAVELERS COMPANIES, INC	COM	89417e109	394	3,311	SH		SOLE		0	0	3,311
TRIPADVISOR INC.	COM	896945201	322	5,000	SH		SOLE		0	0	5,000
TWENTY-FIRST CENTURY FOX, INC.	COM	90130A101	2,309	85,342	SH		SOLE		0	0	85,342
U.S. BANCORP (FORMERLY FIRST B	COM	902973106	596	14,789	SH		SOLE		0	0	14,789
UNION PACIFIC CORPORATION	COM	907818108	672	7,700	SH		SOLE		0	0	7,700
UNITED PARCEL SERVICE, INC. CL	COM	911312106	549	5,100	SH		SOLE		0	0	5,100
UNITED TECHNOLOGIES CORP	COM	913017109	1,477	14,400	SH		SOLE		0	0	14,400
VERIZON	COM	92343V104	1,771	31,718	SH		SOLE		0	0	31,718
WAL-MART STORES	COM	931142103	1,957	26,800	SH		SOLE		0	0	26,800
YUM BRANDS INC (FORMERLY TRICO	COM	895953107	584	7,040	SH		SOLE		0	0	7,040
ZIMMER BIOMET HOLDINGS(FRMLY Z	COM	98956P102	810	6,728	SH		SOLE		0	0	6,728
ZOETIS INC.	COM	98978v103	1,682	35,440	SH		SOLE		0	0	35,440
BANK OF AMERICA 6.20% PERP CAL	PREFERRED	060505286	525	20,000	SH		SOLE		0	0	20,000
BANK OF AMERICA CORP 6.000% CA	PREFERRED	060505260	1,302	50,000	SH		SOLE		0	0	50,000
BROOKFIELD DTLA FD OFFICE TR P	PREFERRED	112714209	201	10,000	SH		SOLE		0	0	10,000
GE (FORMERLY GE CAP) 4.875% CA	PREFERRED	369622410	988	36,000	SH		SOLE		0	0	36,000
JPMORGAN CHASE 6.125% CALLABLE	PREFERRED	48127r461	536	20,000	SH		SOLE		0	0	20,000
PUBLIC STORAGE SER W 5.2% CALL	PREFERRED	74460w875	1,358	52,000	SH		SOLE		0	0	52,000
RBC SER C-1 5.5% CALL'17@25(FR	PREFERRED	78013g402	2,891	112,040	SH		SOLE		0	0	112,040