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
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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	00206R102	2,172	75,508	SH		SOLE		0	0	75,508
ABBVIE INC.	COM	00287y109	4,093	38,200	SH		SOLE		0	0	38,200
ABBOTT LABORATORIES	COM	002824100	953	8,700	SH		SOLE		0	0	8,700
AEGON NV - NY REG SHRS	COM	007924103	142	36,000	SH		SOLE		0	0	36,000
ALLEGHANY CORP	COM	017175100	962	1,594	SH		SOLE		0	0	1,594
ALLSTATE CORP	COM	020002101	220	2,000	SH		SOLE		0	0	2,000
ALPHABET INC. CL C	COM	02079K107	4,993	2,850	SH		SOLE		0	0	2,850
ALTRIA GROUP INC.	COM	02209S103	4,066	99,176	SH		SOLE		0	0	99,176
AMAZON.COM, INC.	COM	023135106	1,208	371	SH		SOLE		0	0	371
AMERICAN ELECTRIC POWER	COM	025537101	833	10,000	SH		SOLE		0	0	10,000
ANHEUSER-BUSCH INBEV SA/NV - S	COM	03524A108	378	5,400	SH		SOLE		0	0	5,400
AON PLC	COM	037389103	2,455	11,618	SH		SOLE		0	0	11,618
APPLE INC.	COM	037833100	40,197	302,940	SH		SOLE		0	0	302,940
ARCHER-DANIELS-MIDLAND CORP	COM	039483102	513	10,172	SH		SOLE		0	0	10,172
ASTRAZENECA PLC-SPONS ADR	COM	046353108	400	8,000	SH		SOLE		0	0	8,000
AVALONBAY COMMUNITIES, INC REI	COM	053484101	802	5,000	SH		SOLE		0	0	5,000
BP PLC SPONS ADR	COM	055622104	239	11,642	SH		SOLE		0	0	11,642
BANK OF AMERICA (NEW)	COM	060505104	1,717	56,633	SH		SOLE		0	0	56,633
BANK OF HAWAII CORPORATION	COM	062540109	4,275	55,800	SH		SOLE		0	0	55,800
BAXTER INT'L INC.	COM	071813109	410	5,106	SH		SOLE		0	0	5,106
BERKSHIRE HATHAWAY INC. CL A	COM	084670108	6,261	18	SH		SOLE		0	0	18
BERKSHIRE HATHAWAY INC. CL B	COM	084670702	4,758	20,518	SH		SOLE		0	0	20,518
BLACK KNIGHT INC. (FNF GROUP S	COM	09215C105	283	3,206	SH		SOLE		0	0	3,206
BLACKSTONE GROUP INC. (THE)	COM	09260d107	713	11,000	SH		SOLE		0	0	11,000
BOSTON PROPERTIES INC. REIT	COM	101121101	567	6,000	SH		SOLE		0	0	6,000
BRISTOL-MYERS SQUIBB CO	COM	110122108	3,717	59,924	SH		SOLE		0	0	59,924
BRITISH AMERICAN TOBACCO PLC -	COM	110448107	786	20,963	SH		SOLE		0	0	20,963
BROOKFIELD PPTY PTNRS LP(ACQUI	COM	G16249107	632	43,643	SH		SOLE		0	0	43,643
CARRIER GLOBAL CORP (UNITED TE	COM	14448c104	543	14,400	SH		SOLE		0	0	14,400
CATERPILLAR INC.	COM	149123101	1,257	6,905	SH		SOLE		0	0	6,905
CHEVRON CORP	COM	166764100	9,757	115,536	SH		SOLE		0	0	115,536
CHUBB LIMITED (FRMLY ACE LIMIT	COM	H1467J104	2,325	15,106	SH		SOLE		0	0	15,106
CHURCH & DWIGHT	COM	171340102	209	2,400	SH		SOLE		0	0	2,400
CIGNA CORP (ACQUIRED EXPRESS S	COM	125523100	1,235	5,932	SH		SOLE		0	0	5,932
COCA-COLA CO	COM	191216100	9,780	178,330	SH		SOLE		0	0	178,330
COCA-COLA EUROPEAN PARTNERS PL	COM	g25839104	648	13,000	SH		SOLE		0	0	13,000
CONOCOPHILLIPS	COM	20825c104	368	9,200	SH		SOLE		0	0	9,200
CONSTELLATION BRANDS, INC.	COM	21036P108	2,431	11,100	SH		SOLE		0	0	11,100
CORPORATE OFFICE PROPERTY TRUS	COM	22002T108	237	9,100	SH		SOLE		0	0	9,100
CREDIT SUISSE GROUP AG - SPON	COM	225401108	128	10,000	SH		SOLE		0	0	10,000
DARDEN RESTAURANTS INC.	COM	237194105	357	3,000	SH		SOLE		0	0	3,000
DIAGEO PLC ADR	COM	25243Q205	7,185	45,240	SH		SOLE		0	0	45,240
DISNEY WALT CO	COM	254687106	8,820	48,679	SH		SOLE		0	0	48,679
EDWARDS LIFESCIENCES CORP.	COM	28176E108	367	4,020	SH		SOLE		0	0	4,020
EMERSON ELECTRIC CO	COM	291011104	573	7,130	SH		SOLE		0	0	7,130
ENTERPRISE PRODUCTS PARTNERS,	COM	293792107	3,098	158,160	SH		SOLE		0	0	158,160
EXPEDIA INC.(IAC/INTERACTIVECO	COM	30212p303	649	4,900	SH		SOLE		0	0	4,900
FNF GROUP (FIDELITY NATL FINCL	COM	31620r303	409	10,458	SH		SOLE		0	0	10,458
FACEBOOK, INC.	COM	30303M102	3,723	13,630	SH		SOLE		0	0	13,630
FIDELITY NATIONAL INFORMATION	COM	31620m106	759	5,364	SH		SOLE		0	0	5,364
FORD MOTOR COMPANY	COM	345370860	214	24,390	SH		SOLE		0	0	24,390
GENERAL MILLS, INC.	COM	370334104	3,205	54,500	SH		SOLE		0	0	54,500
GENERAL MOTORS COMPANY	COM	37045v100	4,789	115,010	SH		SOLE		0	0	115,010
HOME DEPOT	COM	437076102	5,193	19,550	SH		SOLE		0	0	19,550
HOWARD HUGHES CORP (THE)(SPINO	COM	44267d107	324	4,100	SH		SOLE		0	0	4,100
IAC/INTERACTIVECORP	COM	44891n109	933	4,925	SH		SOLE		0	0	4,925
INTEL CORP	COM	458140100	2,715	54,500	SH		SOLE		0	0	54,500
INTERNATIONAL BUSINESS MACHINE	COM	459200101	3,206	25,467	SH		SOLE		0	0	25,467
IRON MOUNTAIN INC. REIT	COM	46284v101	1,760	59,700	SH		SOLE		0	0	59,700
JPMORGAN CHASE & CO.	COM	46625H100	9,623	75,731	SH		SOLE		0	0	75,731
JOHNSON & JOHNSON	COM	478160104	5,840	37,110	SH		SOLE		0	0	37,110
KKR & CO. INC.	COM	48251w104	729	18,000	SH		SOLE		0	0	18,000
KIMBERLY-CLARK	COM	494368103	1,995	14,800	SH		SOLE		0	0	14,800
KINDER MORGAN, INC.	COM	49456B101	2,371	173,470	SH		SOLE		0	0	173,470
LOEWS CORP	COM	540424108	3,508	77,917	SH		SOLE		0	0	77,917
MATCH GROUP, INC.	COM	57667l107	1,606	10,623	SH		SOLE		0	0	10,623
MCDONALD'S CORP	COM	580135101	1,502	7,000	SH		SOLE		0	0	7,000
MERCK & CO., INC.	COM	58933Y105	11,016	134,670	SH		SOLE		0	0	134,670
MICROSOFT CORPORATION	COM	594918104	3,514	15,800	SH		SOLE		0	0	15,800
MONDELEZ INTL INC.(FMRLY KRAFT	COM	609207105	2,668	45,638	SH		SOLE		0	0	45,638
MORGAN STANLEY	COM	617446448	781	11,400	SH		SOLE		0	0	11,400
NIKE, INC. CL B	COM	654106103	10,872	76,850	SH		SOLE		0	0	76,850
NESTLE SA - SPON ADR	COM	641069406	1,579	13,400	SH		SOLE		0	0	13,400
NOVARTIS AG - ADR	COM	66987v109	760	8,050	SH		SOLE		0	0	8,050
OTIS WORLDWIDE CORP (UNITED TE	COM	68902v107	486	7,200	SH		SOLE		0	0	7,200
PEPSICO	COM	713448108	6,230	42,009	SH		SOLE		0	0	42,009
PFIZER, INC.	COM	717081103	5,211	141,575	SH		SOLE		0	0	141,575
PHILIP MORRIS INTERNATIONAL-AL	COM	718172109	9,323	112,606	SH		SOLE		0	0	112,606
PHILLIPS 66	COM	718546104	671	9,600	SH		SOLE		0	0	9,600
PROCTER & GAMBLE CO	COM	742718109	10,176	73,134	SH		SOLE		0	0	73,134
PUBLIC STORAGE - REIT	COM	74460D109	551	2,388	SH		SOLE		0	0	2,388
RALPH LAUREN CORP (FMLY POLO R	COM	751212101	311	3,000	SH		SOLE		0	0	3,000
RAYTHEON TECHNOLGIES CORP - NC	COM	75513e101	1,030	14,400	SH		SOLE		0	0	14,400
REXFORD INDUSTRIAL REALTY, INC	COM	76169c100	1,031	21,000	SH		SOLE		0	0	21,000
RIO TINTO PLC SPONSORED ADR	COM	767204100	752	10,000	SH		SOLE		0	0	10,000
ROCHE HOLDING LTD ADR	COM	771195104	3,694	84,250	SH		SOLE		0	0	84,250
SEMPRA ENERGY	COM	816851109	1,274	10,000	SH		SOLE		0	0	10,000
SINGAPORE AIRLINES	COM	870794302	157	49,832	SH		SOLE		0	0	49,832
STARBUCKS CORP	COM	855244109	214	2,000	SH		SOLE		0	0	2,000
SWIRE PACIFIC LTD SPONS ADR RP	COM	870794302	222	40,000	SH		SOLE		0	0	40,000
SYSCO CORP	COM	871829107	743	10,000	SH		SOLE		0	0	10,000
TAIWAN SEMICONDUCTOR MFG CO LT	COM	874039100	546	5,006	SH		SOLE		0	0	5,006
TANGER FACTORY OUTLET REIT	COM	875465106	1,231	123,600	SH		SOLE		0	0	123,600
TARGET CORP-FRMLY DAYTON HUDSO	COM	87612E106	9,210	52,170	SH		SOLE		0	0	52,170
TEXAS INSTRUMENTS INC.	COM	882508104	1,641	10,000	SH		SOLE		0	0	10,000
TOTAL SA SPON ADR	COM	89151E109	1,177	28,095	SH		SOLE		0	0	28,095
TRAVELERS COMPANIES, INC.	COM	89417e109	465	3,311	SH		SOLE		0	0	3,311
U.S. BANCORP (FORMERLY FIRST B	COM	902973106	681	14,610	SH		SOLE		0	0	14,610
UNION PACIFIC CORPORATION	COM	907818108	1,603	7,700	SH		SOLE		0	0	7,700
UNITED PARCEL SERVICE, INC. CL	COM	911312106	859	5,100	SH		SOLE		0	0	5,100
VERIZON COMMUNICATIONS INC.	COM	92343V104	1,856	31,592	SH		SOLE		0	0	31,592
VIATRIS INC. (PFIZER SPINOFF)	COM	92556v106	329	17,544	SH		SOLE		0	0	17,544
WALMART INC.	COM	931142103	3,863	26,800	SH		SOLE		0	0	26,800
YUM BRANDS INC. (FORMERLY TRIC	COM	895953107	660	6,080	SH		SOLE		0	0	6,080
YUM CHINA HOLDINGS, INC.	COM	98850p109	334	5,853	SH		SOLE		0	0	5,853
ZIMMER BIOMET HOLDINGS(FRMLY Z	COM	98956P102	1,037	6,728	SH		SOLE		0	0	6,728
ZOETIS INC.	COM	98978v103	5,628	34,005	SH		SOLE		0	0	34,005
BANK OF AMERICA 5 PERP CALL 9	PREFERRED	06055h202	3,888	142,515	SH		SOLE		0	0	142,515
BANK OF AMERICA 6.20 PERP CAL	PREFERRED	060505286	500	20,000	SH		SOLE		0	0	20,000
BANK OF AMERICA CORP 6.000 CA	PREFERRED	060505260	1,267	50,000	SH		SOLE		0	0	50,000
BROOKFIELD PRPTY PTNRS LP 6.5	PREFERRED	G16249149	2,341	100,000	SH		SOLE		0	0	100,000
ENERGY TRANSFER OPER LP 7.375	PREFERRED	29278n301	537	26,000	SH		SOLE		0	0	26,000
JPMORGAN CHASE 6.00 CALLABLE	PREFERRED	48128b648	854	30,000	SH		SOLE		0	0	30,000
PRUDENTIAL FINANCIAL INC 5.625	PREFERRED	744320805	2,225	78,000	SH		SOLE		0	0	78,000
PUBLIC STORAGE 5.15 SER F CAL	PREFERRED	74460W685	1,122	42,000	SH		SOLE		0	0	42,000