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
ABBVIE INC.	COM	00287y109	6,662	43,500	SH		SOLE		0	0	43,500
ABBOTT LABORATORIES	COM	002824100	945	8,700	SH		SOLE		0	0	8,700
AEGON NV - NY REG SHRS	COM	007924103	161	36,691	SH		SOLE		0	0	36,691
ALLEGHANY CORP	COM	017175100	1,328	1,594	SH		SOLE		0	0	1,594
ALLSTATE CORP	COM	020002101	253	2,000	SH		SOLE		0	0	2,000
ALPHABET INC. CL C	COM	02079K107	6,569	3,003	SH		SOLE		0	0	3,003
ALTRIA GROUP INC.	COM	02209S103	4,316	103,326	SH		SOLE		0	0	103,326
AMAZON.COM, INC.	COM	023135106	984	9,260	SH		SOLE		0	0	9,260
AMERICAN ELECTRIC POWER	COM	025537101	959	10,000	SH		SOLE		0	0	10,000
ANHEUSER-BUSCH INBEV SA/NV - S	COM	03524A108	272	5,050	SH		SOLE		0	0	5,050
AON PLC	COM	037389103	3,133	11,618	SH		SOLE		0	0	11,618
APPLE INC.	COM	037833100	40,846	298,753	SH		SOLE		0	0	298,753
APPLIED MATERIALS INC	COM	038222105	1,508	16,575	SH		SOLE		0	0	16,575
ARCHER-DANIELS-MIDLAND CORP	COM	039483102	789	10,172	SH		SOLE		0	0	10,172
ASTRAZENECA PLC-SPONS ADR	COM	046353108	529	8,000	SH		SOLE		0	0	8,000
AVALONBAY COMMUNITIES, INC REI	COM	053484101	971	5,000	SH		SOLE		0	0	5,000
BP PLC SPONS ADR	COM	055622104	330	11,642	SH		SOLE		0	0	11,642
BANK OF HAWAII CORPORATION	COM	062540109	4,576	61,500	SH		SOLE		0	0	61,500
BAXTER INT'L INC.	COM	071813109	296	4,606	SH		SOLE		0	0	4,606
BERKSHIRE HATHAWAY INC. CL A	COM	084670108	7,361	18	SH		SOLE		0	0	18
BERKSHIRE HATHAWAY INC. CL B	COM	084670702	5,602	20,518	SH		SOLE		0	0	20,518
BLACK KNIGHT INC. (FNF GROUP S	COM	09215C105	210	3,206	SH		SOLE		0	0	3,206
BLACKSTONE INC. (THE)	COM	09260d107	1,004	11,000	SH		SOLE		0	0	11,000
BOSTON PROPERTIES INC. REIT	COM	101121101	534	6,000	SH		SOLE		0	0	6,000
BRISTOL-MYERS SQUIBB CO	COM	110122108	4,614	59,924	SH		SOLE		0	0	59,924
BRITISH AMERICAN TOBACCO PLC -	COM	110448107	2,655	61,864	SH		SOLE		0	0	61,864
CARRIER GLOBAL CORP (UNITED TE	COM	14448c104	514	14,400	SH		SOLE		0	0	14,400
CATERPILLAR INC.	COM	149123101	1,198	6,700	SH		SOLE		0	0	6,700
CHEVRON CORP	COM	166764100	16,669	115,136	SH		SOLE		0	0	115,136
CHUBB LIMITED (FRMLY ACE LIMIT	COM	H1467J104	2,930	14,906	SH		SOLE		0	0	14,906
CHURCH & DWIGHT	COM	171340102	222	2,400	SH		SOLE		0	0	2,400
CIGNA CORP (ACQUIRED EXPRESS S	COM	125523100	1,563	5,932	SH		SOLE		0	0	5,932
CLOROX COMPANY (THE)	COM	189054109	1,410	10,000	SH		SOLE		0	0	10,000
COCA-COLA CO	COM	191216100	10,819	171,980	SH		SOLE		0	0	171,980
COCA-COLA EUROPACIFIC PARTNERS	COM	g25839104	671	13,000	SH		SOLE		0	0	13,000
CONOCOPHILLIPS	COM	20825c104	1,949	21,700	SH		SOLE		0	0	21,700
CONSTELLATION BRANDS, INC.	COM	21036P108	2,535	10,875	SH		SOLE		0	0	10,875
CORPORATE OFFICE PROPERTY TRUS	COM	22002T108	238	9,100	SH		SOLE		0	0	9,100
CREDIT SUISSE GROUP AG - SPON	COM	225401108	57	10,000	SH		SOLE		0	0	10,000
CROWN CASTLE INTERNATIONAL COR	COM	22822v101	808	4,800	SH		SOLE		0	0	4,800
DARDEN RESTAURANTS INC.	COM	237194105	339	3,000	SH		SOLE		0	0	3,000
DIAGEO PLC ADR	COM	25243Q205	7,842	45,040	SH		SOLE		0	0	45,040
DIGITAL REALTY TRUST, INC. REI	COM	253868103	2,965	22,840	SH		SOLE		0	0	22,840
DISNEY WALT CO	COM	254687106	5,080	53,815	SH		SOLE		0	0	53,815
EDWARDS LIFESCIENCES CORP.	COM	28176E108	363	3,820	SH		SOLE		0	0	3,820
EMERSON ELECTRIC CO	COM	291011104	567	7,130	SH		SOLE		0	0	7,130
ENTERPRISE PRODUCTS PARTNERS,	COM	293792107	3,837	157,460	SH		SOLE		0	0	157,460
EXPEDIA INC.(IAC/INTERACTIVECO	COM	30212p303	465	4,900	SH		SOLE		0	0	4,900
EXXON MOBIL CORPORATION	COM	30231G102	360	4,200	SH		SOLE		0	0	4,200
FIDELITY NATIONAL FINANCIAL, I	COM	31620r303	387	10,458	SH		SOLE		0	0	10,458
FIDELITY NATIONAL INFORMATION	COM	31620m106	492	5,364	SH		SOLE		0	0	5,364
FORD MOTOR COMPANY	COM	345370860	271	24,390	SH		SOLE		0	0	24,390
GENERAL MILLS, INC.	COM	370334104	4,225	56,000	SH		SOLE		0	0	56,000
GENERAL MOTORS COMPANY	COM	37045v100	3,584	112,840	SH		SOLE		0	0	112,840
HOME DEPOT	COM	437076102	5,362	19,550	SH		SOLE		0	0	19,550
HOWARD HUGHES CORP (THE)(SPINO	COM	44267d107	279	4,100	SH		SOLE		0	0	4,100
IAC/INTERACTIVECORP	COM	44891n208	374	4,925	SH		SOLE		0	0	4,925
INTEL CORP	COM	458140100	2,009	53,700	SH		SOLE		0	0	53,700
INTERNATIONAL BUSINESS MACHINE	COM	459200101	4,045	28,652	SH		SOLE		0	0	28,652
IRON MOUNTAIN INC. REIT	COM	46284v101	6,408	131,600	SH		SOLE		0	0	131,600
JPMORGAN CHASE & CO.	COM	46625H100	7,605	67,531	SH		SOLE		0	0	67,531
JOHNSON & JOHNSON	COM	478160104	6,789	38,245	SH		SOLE		0	0	38,245
KKR & CO. INC.	COM	48251w104	833	18,000	SH		SOLE		0	0	18,000
KIMBERLY-CLARK	COM	494368103	1,987	14,700	SH		SOLE		0	0	14,700
KINDER MORGAN, INC.	COM	49456B101	3,379	201,620	SH		SOLE		0	0	201,620
LOEWS CORP	COM	540424108	4,617	77,917	SH		SOLE		0	0	77,917
MARKER THERAPEUTICS, INC.	COM	57055L107	92	279,000	SH		SOLE		0	0	279,000
MCDONALD'S CORP	COM	580135101	1,728	7,000	SH		SOLE		0	0	7,000
MERCK & CO., INC.	COM	58933Y105	12,269	134,570	SH		SOLE		0	0	134,570
METLIFE INC.	COM	59156r108	251	4,000	SH		SOLE		0	0	4,000
META PLATFORMS INC. (FRMLY FAC	COM	30303M102	2,128	13,195	SH		SOLE		0	0	13,195
MICROSOFT CORPORATION	COM	594918104	6,139	23,904	SH		SOLE		0	0	23,904
MONDELEZ INTL INC.(FMRLY KRAFT	COM	609207105	2,834	45,638	SH		SOLE		0	0	45,638
MORGAN STANLEY	COM	617446448	867	11,400	SH		SOLE		0	0	11,400
NIKE, INC. CL B	COM	654106103	7,726	75,600	SH		SOLE		0	0	75,600
NESTLE SA - SPON ADR	COM	641069406	1,979	17,000	SH		SOLE		0	0	17,000
NOVARTIS AG - ADR	COM	66987v109	909	10,750	SH		SOLE		0	0	10,750
NVIDIA CORPORATION	COM	67066G104	933	6,155	SH		SOLE		0	0	6,155
ORACLE CORP	COM	68389X105	210	3,000	SH		SOLE		0	0	3,000
ORGANON & CO. (MERCK SPIN OFF)	COM	68622v106	3,711	109,955	SH		SOLE		0	0	109,955
OTIS WORLDWIDE CORP (UNITED TE	COM	68902v107	509	7,200	SH		SOLE		0	0	7,200
PEPSICO	COM	713448108	7,001	42,009	SH		SOLE		0	0	42,009
PFIZER, INC.	COM	717081103	7,423	141,575	SH		SOLE		0	0	141,575
PHILIP MORRIS INTERNATIONAL-AL	COM	718172109	11,109	112,506	SH		SOLE		0	0	112,506
PHILLIPS 66	COM	718546104	1,033	12,600	SH		SOLE		0	0	12,600
PROCTER & GAMBLE CO	COM	742718109	10,800	75,109	SH		SOLE		0	0	75,109
PROMETHEUS BIOSCIENCES, INC.	COM	74349u108	1,413	50,047	SH		SOLE		0	0	50,047
PUBLIC STORAGE - REIT	COM	74460D109	747	2,388	SH		SOLE		0	0	2,388
RALPH LAUREN CORP (FMLY POLO R	COM	751212101	269	3,000	SH		SOLE		0	0	3,000
RAYTHEON TECHNOLGIES CORP - NC	COM	75513e101	1,672	17,400	SH		SOLE		0	0	17,400
REXFORD INDUSTRIAL REALTY, INC	COM	76169c100	1,209	21,000	SH		SOLE		0	0	21,000
RIO TINTO PLC SPONSORED ADR	COM	767204100	610	10,000	SH		SOLE		0	0	10,000
ROCHE HOLDING LTD ADR	COM	771195104	4,505	108,000	SH		SOLE		0	0	108,000
SEMPRA ENERGY	COM	816851109	2,179	14,500	SH		SOLE		0	0	14,500
SWIRE PACIFIC LTD SPONS ADR RP	COM	870794302	237	40,000	SH		SOLE		0	0	40,000
SYSCO CORP	COM	871829107	847	10,000	SH		SOLE		0	0	10,000
TAIWAN SEMICONDUCTOR MFG CO LT	COM	874039100	409	5,006	SH		SOLE		0	0	5,006
TANGER FACTORY OUTLET REIT	COM	875465106	3,399	239,050	SH		SOLE		0	0	239,050
TARGET CORP-FRMLY DAYTON HUDSO	COM	87612E106	7,278	51,535	SH		SOLE		0	0	51,535
TEXAS INSTRUMENTS INC.	COM	882508104	1,537	10,000	SH		SOLE		0	0	10,000
TOAST, INC.	COM	888787108	153	11,800	SH		SOLE		0	0	11,800
TOTALENERGIES SE ADR (FRMRLY T	COM	89151E109	2,147	40,795	SH		SOLE		0	0	40,795
TRAVELERS COMPANIES, INC.	COM	89417e109	560	3,311	SH		SOLE		0	0	3,311
U.S. BANCORP (FORMERLY FIRST B	COM	902973106	672	14,610	SH		SOLE		0	0	14,610
UNION PACIFIC CORPORATION	COM	907818108	1,600	7,500	SH		SOLE		0	0	7,500
UNITED PARCEL SERVICE, INC. CL	COM	911312106	931	5,100	SH		SOLE		0	0	5,100
VICI PROPERTIES INC. (REIT)	COM	925652109	2,983	100,150	SH		SOLE		0	0	100,150
VERIZON COMMUNICATIONS INC.	COM	92343V104	4,940	97,342	SH		SOLE		0	0	97,342
VODAFONE GROUP PLC SPONS ADR	COM	92857t107	509	32,662	SH		SOLE		0	0	32,662
WALMART INC.	COM	931142103	3,258	26,800	SH		SOLE		0	0	26,800
YUM BRANDS INC. (FORMERLY TRIC	COM	895953107	690	6,080	SH		SOLE		0	0	6,080
YUM CHINA HOLDINGS, INC.	COM	98850p109	284	5,853	SH		SOLE		0	0	5,853
ZIMMER BIOMET HOLDINGS(FRMLY Z	COM	98956P102	704	6,700	SH		SOLE		0	0	6,700
ZOETIS INC.	COM	98978v103	5,827	33,900	SH		SOLE		0	0	33,900
BANK OF AMERICA 5 PERP CALL 9	PREFERRED	06055h202	3,004	141,115	SH		SOLE		0	0	141,115
BROOKFIELD PRPTY PTNRS LP 6.5	PREFERRED	G16249149	1,995	100,000	SH		SOLE		0	0	100,000
ENERGY TRANSFER LP 7.375 PFD	PREFERRED	29273v407	573	26,000	SH		SOLE		0	0	26,000
JPMORGAN CHASE 6.00 CALLABLE	PREFERRED	48128b648	766	30,000	SH		SOLE		0	0	30,000
PRUDENTIAL FINANCIAL INC 5.625	PREFERRED	744320805	1,855	74,000	SH		SOLE		0	0	74,000
PUBLIC STORAGE 5.15 SER F CAL	PREFERRED	74460W685	972	40,000	SH		SOLE		0	0	40,000