Ar Asset Management 13F-HR Quarterly holdings report by institutional manager

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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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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	2,470	59,438	SH		SOLE		0	0	59,438
ABBVIE INC.	COM	00287y109	795	12,200	SH		SOLE		0	0	12,200
ABBOTT LABORATORIES	COM	002824100	386	8,700	SH		SOLE		0	0	8,700
ALLEGHANY CORP	COM	017175100	980	1,594	SH		SOLE		0	0	1,594
ALPHABET INC CL C	COM	02079K107	664	800	SH		SOLE		0	0	800
ALTRIA GROUP INC	COM	02209S103	7,385	103,406	SH		SOLE		0	0	103,406
AMERICAN AIRLINES GROUP INC.	COM	02376R102	1,282	30,300	SH		SOLE		0	0	30,300
AMERICAN ELECTRIC POWER	COM	025537101	671	10,000	SH		SOLE		0	0	10,000
ANHEUSER-BUSCH INBEV NV SPN AD	COM	03524A108	571	5,200	SH		SOLE		0	0	5,200
AON PLC	COM	037389103	1,379	11,618	SH		SOLE		0	0	11,618
APOLLO INVESTMENT CORPORATION	COM	03761U106	328	50,000	SH		SOLE		0	0	50,000
APPLE INC	COM	037833100	11,929	83,035	SH		SOLE		0	0	83,035
ARCHER-DANIELS-MIDLAND CORP	COM	039483102	468	10,172	SH		SOLE		0	0	10,172
ASTRAZENECA PLC-SPONS ADR	COM	046353108	249	8,000	SH		SOLE		0	0	8,000
AVALONBAY COMMUNITIES, INC REI	COM	053484101	918	5,000	SH		SOLE		0	0	5,000
BP PLC SPONS ADR	COM	055622104	436	12,642	SH		SOLE		0	0	12,642
BANCO SANTANDER SA ADR	COM	05964h105	518	85,410	SH		SOLE		0	0	85,410
BANK OF AMERICA (NEW)	COM	060505104	1,345	57,017	SH		SOLE		0	0	57,017
BANK OF HAWAII CORPORATION	COM	062540109	1,235	15,000	SH		SOLE		0	0	15,000
BAXTER INT'L INC	COM	071813109	265	5,106	SH		SOLE		0	0	5,106
BERKSHIRE HATHAWAY CL B	COM	084670207	3,336	20,014	SH		SOLE		0	0	20,014
BERKSHIRE HATHAWAY INC CL A	COM	084670108	4,497	18	SH		SOLE		0	0	18
BLACKROCK CAPITAL INVESTMENT C	COM	092533108	208	27,500	SH		SOLE		0	0	27,500
BLACKSTONE GROUP LP (THE)	COM	09253u108	327	11,000	SH		SOLE		0	0	11,000
BOEING CO	COM	097023105	1,211	6,850	SH		SOLE		0	0	6,850
BOSTON PROPERTIES INC. REIT	COM	101121101	794	6,000	SH		SOLE		0	0	6,000
BRISTOL-MYERS SQUIBB CO	COM	110122108	3,259	59,924	SH		SOLE		0	0	59,924
CK HUTCHISON HOLDINGS(FRM CHEU	COM	166744201	370	30,000	SH		SOLE		0	0	30,000
CHEVRON CORP	COM	166764100	12,820	119,396	SH		SOLE		0	0	119,396
CHUBB LIMITED (FRMLY ACE LIMIT	COM	H1467J104	2,058	15,106	SH		SOLE		0	0	15,106
COCA-COLA CO	COM	191216100	7,483	176,315	SH		SOLE		0	0	176,315
COCA-COLA EUROPEAN PARTNERS PL	COM	19122T109	1,018	27,000	SH		SOLE		0	0	27,000
CONOCOPHILLIPS	COM	20825c104	982	19,700	SH		SOLE		0	0	19,700
CONSTELLATION BRANDS, INC.	COM	21036P108	324	2,000	SH		SOLE		0	0	2,000
CORPORATE OFFICE PROPERTY TRUS	COM	22002T108	301	9,100	SH		SOLE		0	0	9,100
DARDEN RESTAURANTS INC	COM	237194105	251	3,000	SH		SOLE		0	0	3,000
DELTA AIR LINES INC	COM	247361702	276	6,000	SH		SOLE		0	0	6,000
DEUTSCHE BANK AG	COM	D18190898	275	16,000	SH		SOLE		0	0	16,000
DIAGEO PLC ADR	COM	25243Q205	5,402	46,740	SH		SOLE		0	0	46,740
DISNEY WALT CO	COM	254687106	1,987	17,520	SH		SOLE		0	0	17,520
EMERSON ELECTRIC CO	COM	291011104	427	7,130	SH		SOLE		0	0	7,130
ENTERPRISE PRODUCTS PARTNERS L	COM	293792107	1,155	41,840	SH		SOLE		0	0	41,840
EXPEDIA INC (IAC/INTERACTIVECO	COM	30212p105	631	5,000	SH		SOLE		0	0	5,000
EXPRESS SCRIPTS HOLDING CO	COM	302182100	1,612	24,460	SH		SOLE		0	0	24,460
EXXON MOBIL CORPORATION	COM	30231G102	13,339	162,656	SH		SOLE		0	0	162,656
FNF GROUP (FIDELITY NATL FINCL	COM	31620r303	407	10,458	SH		SOLE		0	0	10,458
FACEBOOK INC	COM	30303M102	1,449	10,200	SH		SOLE		0	0	10,200
FIDELITY NATIONAL INFORMATION	COM	31620m106	427	5,364	SH		SOLE		0	0	5,364
FORD MOTOR COMPANY	COM	345370860	926	79,585	SH		SOLE		0	0	79,585
GGP INC REIT - FMRLY GENERAL G	COM	36174x101	1,040	44,846	SH		SOLE		0	0	44,846
GENERAL MILLS INC	COM	370334104	1,210	20,500	SH		SOLE		0	0	20,500
GENERAL MOTORS CO	COM	37045v100	5,024	142,080	SH		SOLE		0	0	142,080
GILEAD SCIENCES, INC	COM	375558103	475	7,000	SH		SOLE		0	0	7,000
HSBC HOLDINGS PLC LTD ADR	COM	404280406	522	12,780	SH		SOLE		0	0	12,780
HOME DEPOT	COM	437076102	3,465	23,600	SH		SOLE		0	0	23,600
HOWARD HUGHES CORP (THE)(SPINO	COM	44267d107	504	4,296	SH		SOLE		0	0	4,296
IAC/INTERACTIVECORP	COM	44919p508	369	5,000	SH		SOLE		0	0	5,000
INTEL CORP	COM	458140100	2,002	55,500	SH		SOLE		0	0	55,500
INTERNATIONAL BUSINESS MACHINE	COM	459200101	8,740	50,192	SH		SOLE		0	0	50,192
JPMORGAN CHASE & CO.	COM	46625H100	7,153	81,434	SH		SOLE		0	0	81,434
JOHNSON & JOHNSON	COM	478160104	4,672	37,510	SH		SOLE		0	0	37,510
KKR & CO. LP	COM	48248m102	328	18,000	SH		SOLE		0	0	18,000
KIMBERLY-CLARK	COM	494368103	1,922	14,600	SH		SOLE		0	0	14,600
KRAFT HEINZ CO (THE)	COM	500754106	2,144	23,609	SH		SOLE		0	0	23,609
LOEWS CORP	COM	540424108	3,717	79,477	SH		SOLE		0	0	79,477
MACY'S INC. (FORMERLY FEDERATE	COM	55616P104	2,557	86,256	SH		SOLE		0	0	86,256
MERCK & CO.	COM	58933Y105	8,665	136,370	SH		SOLE		0	0	136,370
METLIFE INC	COM	59156r108	211	4,000	SH		SOLE		0	0	4,000
MICROSOFT CORP	COM	594918104	909	13,800	SH		SOLE		0	0	13,800
MONDELEZ INTL INC (FMRLY KRAFT	COM	609207105	1,984	46,053	SH		SOLE		0	0	46,053
NESTLE ADR	COM	641069406	1,030	13,400	SH		SOLE		0	0	13,400
NEW YORK COMMUNITY BANCORP, IN	COM	649445103	1,339	95,850	SH		SOLE		0	0	95,850
NIKE INC., CL B	COM	654106103	2,508	45,000	SH		SOLE		0	0	45,000
NOVARTIS AG - ADR	COM	66987v109	605	8,150	SH		SOLE		0	0	8,150
PEPSICO	COM	713448108	4,878	43,609	SH		SOLE		0	0	43,609
PFIZER, INC.	COM	717081103	4,294	125,533	SH		SOLE		0	0	125,533
PHILIP MORRIS INTERNATIONAL-AL	COM	718172109	13,029	115,406	SH		SOLE		0	0	115,406
PHILLIPS 66	COM	718546104	780	9,850	SH		SOLE		0	0	9,850
PROSHARES ULTRASHORT 20 YEAR	COM	74347b201	352	9,000	SH		SOLE		0	0	9,000
PROCTER & GAMBLE CO	COM	742718109	6,780	75,464	SH		SOLE		0	0	75,464
PUBLIC STORAGE - REIT	COM	74460D109	523	2,388	SH		SOLE		0	0	2,388
QUALCOMM INC.	COM	747525103	1,875	32,700	SH		SOLE		0	0	32,700
RALPH LAUREN CORP (FMLY POLO R	COM	731572103	245	3,000	SH		SOLE		0	0	3,000
REXFORD INDUSTRIAL REALTY, INC	COM	76169c100	473	21,000	SH		SOLE		0	0	21,000
REYNOLDS AMERICAN INC	COM	761713106	3,810	60,450	SH		SOLE		0	0	60,450
RIO TINTO PLC SPONSORED ADR	COM	767204100	407	10,000	SH		SOLE		0	0	10,000
ROCHE HOLDINGS LTD ADR	COM	771195104	2,839	88,650	SH		SOLE		0	0	88,650
ROYAL DUTCH SHELL PLC - ADR A	COM	780259206	6,363	120,670	SH		SOLE		0	0	120,670
SEMPRA ENERGY	COM	816851109	1,105	10,000	SH		SOLE		0	0	10,000
SIMON PROPERTY GROUP, INC. REI	COM	828806109	378	2,200	SH		SOLE		0	0	2,200
SINGAPORE AIRLINES	COM	870794302	637	87,911	SH		SOLE		0	0	87,911
SWIRE PACIFIC LTD SPONS ADR RP	COM	870794302	403	40,000	SH		SOLE		0	0	40,000
SYSCO CORP	COM	871829107	519	10,000	SH		SOLE		0	0	10,000
TANGER FACTORY OUTLET REIT	COM	875465106	826	25,200	SH		SOLE		0	0	25,200
TARGET CORP-FRMLY DAYTON HUDSO	COM	87612E106	1,706	30,920	SH		SOLE		0	0	30,920
TEVA PHARMACEUTICALS ADR	COM	881624209	321	10,000	SH		SOLE		0	0	10,000
TEXAS INSTRUMENTS INC.	COM	882508104	806	10,000	SH		SOLE		0	0	10,000
TIFFANY & CO	COM	886547108	762	8,000	SH		SOLE		0	0	8,000
TOTAL SA SPON ADR	COM	89151E109	1,835	36,395	SH		SOLE		0	0	36,395
TRAVELERS COMPANIES, INC	COM	89417e109	399	3,311	SH		SOLE		0	0	3,311
TWENTY-FIRST CENTURY FOX, INC.	COM	90130A101	2,764	85,342	SH		SOLE		0	0	85,342
U.S. BANCORP (FORMERLY FIRST B	COM	902973106	762	14,789	SH		SOLE		0	0	14,789
UNION PACIFIC CORPORATION	COM	907818108	816	7,700	SH		SOLE		0	0	7,700
UNITED PARCEL SERVICE, INC. CL	COM	911312106	547	5,100	SH		SOLE		0	0	5,100
UNITED TECHNOLOGIES CORP	COM	913017109	1,616	14,400	SH		SOLE		0	0	14,400
VERIZON	COM	92343V104	1,546	31,718	SH		SOLE		0	0	31,718
WAL-MART STORES	COM	931142103	1,932	26,800	SH		SOLE		0	0	26,800
WELLS FARGO & CO.	COM	949746101	295	5,300	SH		SOLE		0	0	5,300
YUM BRANDS INC (FORMERLY TRICO	COM	895953107	450	7,040	SH		SOLE		0	0	7,040
ZIMMER BIOMET HOLDINGS(FRMLY Z	COM	98956P102	822	6,728	SH		SOLE		0	0	6,728
ZOETIS INC.	COM	98978v103	1,834	34,362	SH		SOLE		0	0	34,362
BANK OF AMERICA 6.20 PERP CAL	PREFERRED	060505286	517	20,000	SH		SOLE		0	0	20,000
BANK OF AMERICA CORP 6.000 CA	PREFERRED	060505260	1,290	50,000	SH		SOLE		0	0	50,000
BROOKFIELD DTLA FD OFFICE TR P	PREFERRED	112714209	248	10,000	SH		SOLE		0	0	10,000
GE (FORMERLY GE CAP) 4.875 CA	PREFERRED	369622410	668	26,000	SH		SOLE		0	0	26,000
JPMORGAN CHASE 6.125 CALLABLE	PREFERRED	48127r461	530	20,000	SH		SOLE		0	0	20,000
PUBLIC STORAGE SER W 5.2 CALL	PREFERRED	74460w875	1,047	42,000	SH		SOLE		0	0	42,000
RBC SER C-1 5.5 CALL'17 25(FR	PREFERRED	78013g402	2,863	112,040	SH		SOLE		0	0	112,040
DEUTSCHE BANK AG RIGHTS	RIGHT	d1t769565	38	16,000	SH		SOLE		0	0	16,000