Laffer Investments 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
Abbvie Inc	COMMON STOCKS	00287Y109	3,234	56	SH		OTR	ALL	56	0	0
Access Midstream Partners LP	COMMON STOCKS	00434L109	11,872,368	186,555	SH		OTR	ALL	186,555	0	0
Ace Ltd	COMMON STOCKS	H0023R105	2,787,864	26,584	SH		OTR	ALL	26,584	0	0
Aegon Nv Non Cuml	PREFERRED STOCK	007924608	185,245	6,493	SH		OTR	ALL	6,493	0	0
Alcoa Inc.	CONVERTIBLE PREFERRED STOCK	013817309	1,018,250	20,365	SH		OTR	ALL	20,365	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	2,164,542	112,913	SH		OTR	ALL	112,913	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	2,005,462	74,800	SH		OTR	ALL	74,800	0	0
Allergan Inc	COMMON STOCKS	018490102	3,565,938	20,012	SH		OTR	ALL	20,012	0	0
Altera Corp	COMMON STOCKS	021441100	2,104,042	58,805	SH		OTR	ALL	58,805	0	0
Altria Group Inc	COMMON STOCKS	02209S103	208,337	4,535	SH		OTR	ALL	4,535	0	0
AMERICAN CENTURY MID CAP VALUE CL A	MUTUAL FUND	025076639	5,800	340	SH		OTR	ALL	340	0	0
American Century Equity Income Fund	MUTUAL FUND	025076407	7,789	856	SH		OTR	ALL	856	0	0
American Realty Cap Pptys Inc	COMMON STOCKS	02917T104	11,046,501	915,962	SH		OTR	ALL	915,962	0	0
American Tower Corp	CONVERTIBLE PREFERRED STOCK	03027X308	1,980,667	18,255	SH		OTR	ALL	18,255	0	0
Amphenol Corp	COMMON STOCKS	032095101	2,584,077	25,877	SH		OTR	ALL	25,877	0	0
Analog Devices Inc	COMMON STOCKS	032654105	2,105,255	42,539	SH		OTR	ALL	42,539	0	0
Apartment Investment & Management Company	COMMON STOCKS	03748R101	2,142,345	67,327	SH		OTR	ALL	67,327	0	0
Apollo Invt Corp	CONVERTIBLE BOND	03761UAE6	1,943,786	1,825	SH		OTR	ALL	1,825	0	0
Apple Computer Inc	COMMON STOCKS	037833100	14,106,007	140,010	SH		OTR	ALL	140,010	0	0
Applied Materials Inc	COMMON STOCKS	038222105	2,898,289	134,118	SH		OTR	ALL	134,118	0	0
Ares Capital Corp	COMMON STOCKS	04010L103	180,087	11,144	SH		OTR	ALL	11,144	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAB9	1,863,348	1,755	SH		OTR	ALL	1,755	0	0
Banc of California Inc.	CONVERTIBLE PREFERRED STOCK	05990K700	195,288	3,296	SH		OTR	ALL	3,296	0	0
BCE Inc	COMMON STOCKS	05534B760	11,471,823	268,284	SH		OTR	ALL	268,284	0	0
Bemis Company Inc	COMMON STOCKS	081437105	1,817,964	47,816	SH		OTR	ALL	47,816	0	0
BlackRock High Yield Portfolio	MUTUAL FUND	091929679	7,580	924	SH		OTR	ALL	924	0	0
Blackrock Inc	COMMON STOCKS	09247X101	12,495,859	38,060	SH		OTR	ALL	38,060	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	3,773,859	73,737	SH		OTR	ALL	73,737	0	0
Broadcom Corp	COMMON STOCKS	111320107	2,887,564	71,439	SH		OTR	ALL	71,439	0	0
Brown-Forman Corporation	COMMON STOCKS	115637209	2,386,319	26,450	SH		OTR	ALL	26,450	0	0
Bunge Limited	CONVERTIBLE PREFERRED STOCK	G16962204	1,623,031	14,950	SH		OTR	ALL	14,950	0	0
CA Inc	COMMON STOCKS	12673P105	1,957,979	70,078	SH		OTR	ALL	70,078	0	0
Cablevision Sys Corp	COMMON STOCKS	12686C109	1,752,365	100,078	SH		OTR	ALL	100,078	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T206	1,050,154	17,272	SH		OTR	ALL	17,272	0	0
Centerpoint Energy, Inc.	COMMON STOCKS	15189T107	2,192,805	89,612	SH		OTR	ALL	89,612	0	0
Centurylink Inc	COMMON STOCKS	156700106	2,630,085	64,321	SH		OTR	ALL	64,321	0	0
Chesapeake Energy Co	CONVERTIBLE BOND	165167BW6	1,807,297	1,747	SH		OTR	ALL	1,747	0	0
Cigna Corp	COMMON STOCKS	125509109	2,445,365	26,964	SH		OTR	ALL	26,964	0	0
Cintas Corp	COMMON STOCKS	172908105	2,704,726	38,316	SH		OTR	ALL	38,316	0	0
Citigroup Inc.	PREFERRED STOCK	172967358	180,988	6,771	SH		OTR	ALL	6,771	0	0
Clorox Co	COMMON STOCKS	189054109	2,384,000	24,823	SH		OTR	ALL	24,823	0	0
CME Group Inc	COMMON STOCKS	12572Q105	2,662,181	33,296	SH		OTR	ALL	33,296	0	0
CMS Energy Corp	COMMON STOCKS	125896100	2,125,287	71,655	SH		OTR	ALL	71,655	0	0
Coca Cola Co	COMMON STOCKS	191216100	12,232,285	286,739	SH		OTR	ALL	286,739	0	0
Columbia Dividend Opportunity Fund	MUTUAL FUND	19763P283	17,428	1,616	SH		OTR	ALL	1,616	0	0
Columbia Income Opportunities Fund	MUTUAL FUND	19763T103	5,676	569	SH		OTR	ALL	569	0	0
Columbia Intermediate Bond - A	MUTUAL FUND	19765N492	7,740	844	SH		OTR	ALL	844	0	0
Columbia Small Cap Core Fund	MUTUAL FUND	19765P844	5,361	292	SH		OTR	ALL	292	0	0
Comerica Inc	COMMON STOCKS	200340107	2,285,333	45,835	SH		OTR	ALL	45,835	0	0
Computer Sciences Co	COMMON STOCKS	205363104	2,221,273	36,325	SH		OTR	ALL	36,325	0	0
CONOCOPHILLIPS COM	COMMON STOCKS	20825C104	3,443	45	SH		OTR	ALL	45	0	0
Consumer Staples Spdr	EXCHANGE TRADED FUND	81369Y308	59,635	1,322	SH		OTR	ALL	1,322	0	0
Corning Inc	COMMON STOCKS	219350105	2,702,977	139,761	SH		OTR	ALL	139,761	0	0
CSX Corp	COMMON STOCKS	126408103	3,558	111	SH		OTR	ALL	111	0	0
Danaher Corp	COMMON STOCKS	235851102	2,873,259	37,816	SH		OTR	ALL	37,816	0	0
Darden Restaurants	COMMON STOCKS	237194105	2,155,247	41,882	SH		OTR	ALL	41,882	0	0
Developers Diversified Realty Corp	CONVERTIBLE BOND	251591AX1	2,464,473	2,116	SH		OTR	ALL	2,116	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U703	1,390,288	24,800	SH		OTR	ALL	24,800	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U885	2,688,187	47,790	SH		OTR	ALL	47,790	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U869	184,180	3,691	SH		OTR	ALL	3,691	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	2,603,268	40,480	SH		OTR	ALL	40,480	0	0
DTE Energy Co	COMMON STOCKS	233331107	2,200,614	28,925	SH		OTR	ALL	28,925	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	2,260,240	19,241	SH		OTR	ALL	19,241	0	0
EATON VANCE FLOATING RATE & HIGH INCOME CL A	MUTUAL FUND	277911137	9,566	1,011	SH		OTR	ALL	1,011	0	0
Ensco International Spon Adr	COMMON STOCKS	G3157S106	1,572,093	38,056	SH		OTR	ALL	38,056	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	181,383	5,947	SH		OTR	ALL	5,947	0	0
Equifax Inc	COMMON STOCKS	294429105	2,228,074	29,811	SH		OTR	ALL	29,811	0	0
Exelon Corp	CONVERTIBLE PREFERRED STOCK	30161N127	1,302,918	25,648	SH		OTR	ALL	25,648	0	0
Expedia Inc	COMMON STOCKS	30212P303	2,919,060	33,315	SH		OTR	ALL	33,315	0	0
Exxon Mobil Corp	COMMON STOCKS	30231G102	9,405	100	SH		OTR	ALL	100	0	0
Family Dlr Stores Inc	COMMON STOCKS	307000109	2,282,673	29,553	SH		OTR	ALL	29,553	0	0
Fastenal Co.	COMMON STOCKS	311900104	2,058,934	45,856	SH		OTR	ALL	45,856	0	0
Federate Strategic Value Dividend Fund	MUTUAL FUND	314172586	5,619	918	SH		OTR	ALL	918	0	0
Federated Bond Fund CL A	MUTUAL FUND	31420F103	19,170	2,028	SH		OTR	ALL	2,028	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	2,427,712	43,121	SH		OTR	ALL	43,121	0	0
Ford Motor Co	COMMON STOCKS	345370860	10,498,607	709,845	SH		OTR	ALL	709,845	0	0
Ford Motor Company	CONVERTIBLE BOND	345370CN8	2,627,615	1,504	SH		OTR	ALL	1,504	0	0
Frontier Communications	COMMON STOCKS	35906A108	2,544,954	390,930	SH		OTR	ALL	390,930	0	0
General Electric Co	COMMON STOCKS	369604103	11,357,627	443,311	SH		OTR	ALL	443,311	0	0
Genesee & Wyoming Inc	CONVERTIBLE PREFERRED STOCK	371559204	1,219,503	9,905	SH		OTR	ALL	9,905	0	0
Genesis Energy L.P.	COMMON STOCKS	371927104	26	0	SH		OTR	ALL	0	0	0
Gilead Sciences Inc	CONVERTIBLE BOND	375558AP8	6,734,224	1,436	SH		OTR	ALL	1,436	0	0
Glaxosmithkline PLC	COMMON STOCKS	37733W105	10,671,797	232,147	SH		OTR	ALL	232,147	0	0
Graham Holdings Company	COMMON STOCKS	384637104	2,323,338	3,321	SH		OTR	ALL	3,321	0	0
Grainger W W Inc	COMMON STOCKS	384802104	2,145,064	8,524	SH		OTR	ALL	8,524	0	0
Guggenheim BulletShares 2016 High Yield Corporat	EXCHANGE TRADED FUND	18383M415	1,118	42	SH		OTR	ALL	42	0	0
Guggenheim BulletShares 2017 High Yield Corporat	EXCHANGE TRADED FUND	18383M399	1,096	41	SH		OTR	ALL	41	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	620,048	12,361	SH		OTR	ALL	12,361	0	0
Harley-Davidson, Inc	COMMON STOCKS	412822108	2,034,613	34,959	SH		OTR	ALL	34,959	0	0
Hasbro Bradley Inc	COMMON STOCKS	418056107	3,134	57	SH		OTR	ALL	57	0	0
Health Care Reit Inc	CONVERTIBLE BOND	42217KAR7	2,063,237	1,652	SH		OTR	ALL	1,652	0	0
Health Care REIT Inc.	CONVERTIBLE PREFERRED STOCK	42217K601	1,709,453	29,896	SH		OTR	ALL	29,896	0	0
Hercules Technology	COMMON STOCKS	427096508	11,026,227	762,533	SH		OTR	ALL	762,533	0	0
Hershey Foods Corp	COMMON STOCKS	427866108	2,259,591	23,678	SH		OTR	ALL	23,678	0	0
HollyFrontier Corporation	COMMON STOCKS	436106108	2,882	66	SH		OTR	ALL	66	0	0
Home Depot Inc	COMMON STOCKS	437076102	3,669	40	SH		OTR	ALL	40	0	0
Hormel Foods Corp	COMMON STOCKS	440452100	2,294,666	44,652	SH		OTR	ALL	44,652	0	0
Host Hotels & Resorts	COMMON STOCKS	44107P104	2,399,177	112,479	SH		OTR	ALL	112,479	0	0
Intel Corp	CONVERTIBLE BOND	458140AD2	3,246,493	2,506	SH		OTR	ALL	2,506	0	0
Intel Corp	CONVERTIBLE BOND	458140AF7	4,457,515	2,640	SH		OTR	ALL	2,640	0	0
Interpublic Group of Companies Inc	COMMON STOCKS	460690100	2,121,456	115,800	SH		OTR	ALL	115,800	0	0
Invesco Global Real Estate Income Fund	MUTUAL FUND	00141A628	5,629	629	SH		OTR	ALL	629	0	0
Invesco International Growth Fund	MUTUAL FUND	008882102	7,444	218	SH		OTR	ALL	218	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	2,499,873	63,320	SH		OTR	ALL	63,320	0	0
iShares Barclays 3-7 Year Tr	EXCHANGE TRADED FUND	464288661	107,853	889	SH		OTR	ALL	889	0	0
iShares Currency Hedged Germany MSCI ETF	EXCHANGE TRADED FUND	46434V704	5,367,668	227,540	SH		OTR	ALL	227,540	0	0
iShares DJ Select Dividend	EXCHANGE TRADED FUND	464287168	161,974	2,193	SH		OTR	ALL	2,193	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	865,736	17,032	SH		OTR	ALL	17,032	0	0
iShares IBoxx $ Investment	EXCHANGE TRADED FUND	464287242	1,261,525	10,671	SH		OTR	ALL	10,671	0	0
iShares Iboxx Hy Cp Bd	EXCHANGE TRADED FUND	464288513	529,999	5,764	SH		OTR	ALL	5,764	0	0
iShares International Developed Real Estate ETF	EXCHANGE TRADED FUND	464288489	9,823	327	SH		OTR	ALL	327	0	0
iShares Lehman 1-3 Credit	EXCHANGE TRADED FUND	464288646	862,243	8,190	SH		OTR	ALL	8,190	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	136,990	1,621	SH		OTR	ALL	1,621	0	0
iShares Lehman 20+ Tr	EXCHANGE TRADED FUND	464287432	27,323	235	SH		OTR	ALL	235	0	0
iShares Lehman 7-10 Tr	EXCHANGE TRADED FUND	464287440	47,872	462	SH		OTR	ALL	462	0	0
iShares Lehman Int Credit	EXCHANGE TRADED FUND	464288638	1,179,345	10,789	SH		OTR	ALL	10,789	0	0
iShares Lehman Tips	EXCHANGE TRADED FUND	464287176	821,585	7,331	SH		OTR	ALL	7,331	0	0
iShares MSCI Canada Index	EXCHANGE TRADED FUND	464286509	5,646,653	183,990	SH		OTR	ALL	183,990	0	0
iShares MSCI Hong Kong Index	EXCHANGE TRADED FUND	464286871	5,467,158	268,921	SH		OTR	ALL	268,921	0	0
iShares MSCI India ETF	EXCHANGE TRADED FUND	46429B598	5,846,364	192,568	SH		OTR	ALL	192,568	0	0
iShares MSCI New Zealand Index	EXCHANGE TRADED FUND	464289123	5,133,642	133,376	SH		OTR	ALL	133,376	0	0
iShares MSCI Singapore Index	EXCHANGE TRADED FUND	464286673	5,452,462	408,730	SH		OTR	ALL	408,730	0	0
iShares MSCI Switzerland Index	EXCHANGE TRADED FUND	464286749	74	2	SH		OTR	ALL	2	0	0
iShares S&P U.S. Preferred Stock Index Fund	EXCHANGE TRADED FUND	464288687	12,369	313	SH		OTR	ALL	313	0	0
Ivy Mid Cap Growth Fund	MUTUAL FUND	466000577	5,830	247	SH		OTR	ALL	247	0	0
Jabil Circuit Inc	COMMON STOCKS	466313103	1,776,412	88,072	SH		OTR	ALL	88,072	0	0
Janus High-Yield Fund	MUTUAL FUND	47103C597	7,517	827	SH		OTR	ALL	827	0	0
John Hancock Bond Fund CL A	MUTUAL FUND	410223101	17,354	1,075	SH		OTR	ALL	1,075	0	0
John Hancock Funds III	MUTUAL FUND	47803U103	9,483	795	SH		OTR	ALL	795	0	0
Johnson & Johnson	COMMON STOCKS	478160104	12,385,011	116,193	SH		OTR	ALL	116,193	0	0
JPMorgan Chase & Co	PREFERRED STOCK	48127A161	184,415	7,215	SH		OTR	ALL	7,215	0	0
JPMORGAN STRATEGIC INCOME OPPORTUNITIES C	MUTUAL FUND	4812A4385	7,728	654	SH		OTR	ALL	654	0	0
Keycorp	COMMON STOCKS	493267108	2,221,457	166,651	SH		OTR	ALL	166,651	0	0
Kimberly Clark Corp	COMMON STOCKS	494368103	3,119	29	SH		OTR	ALL	29	0	0
Kinder Morgan Energy	COMMON STOCKS	494550106	213,331	2,287	SH		OTR	ALL	2,287	0	0
Kinder Morgan Management LLC	COMMON STOCKS	49455U100	4,642	49	SH		OTR	ALL	49	0	0
Kla-Tencor Corp	COMMON STOCKS	482480100	2,851,126	36,191	SH		OTR	ALL	36,191	0	0
Kohl's Corp	COMMON STOCKS	500255104	2,582,545	42,316	SH		OTR	ALL	42,316	0	0
Laclede Group Inc	CONVERTIBLE PREFERRED STOCK	505597500	1,992,762	37,909	SH		OTR	ALL	37,909	0	0
Lam Research Corp 1.25	CONVERTIBLE BOND	512807AL2	2,269,521	1,670	SH		OTR	ALL	1,670	0	0
Legg Mason Inc	COMMON STOCKS	524901105	2,669,477	52,179	SH		OTR	ALL	52,179	0	0
Leggett & Platt Inc	COMMON STOCKS	524660107	2,141,538	61,327	SH		OTR	ALL	61,327	0	0
Linear Technology Co	COMMON STOCKS	535678106	2,137,245	48,147	SH		OTR	ALL	48,147	0	0
Lorillard Inc	COMMON STOCKS	544147101	2,802,949	46,786	SH		OTR	ALL	46,786	0	0
LyondellBasell Industries NV	COMMON STOCKS	N53745100	15,435,370	142,052	SH		OTR	ALL	142,052	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	2,549,278	67,818	SH		OTR	ALL	67,818	0	0
Marsh & Mclennan Cos	COMMON STOCKS	571748102	2,803,435	53,562	SH		OTR	ALL	53,562	0	0
Mcgraw Hill Financial, Inc.	COMMON STOCKS	580645109	2,802,473	33,185	SH		OTR	ALL	33,185	0	0
Merck & Co Inc	COMMON STOCKS	58933Y105	3,675	62	SH		OTR	ALL	62	0	0
MFS GROWTH CL A	MUTUAL FUND	552985103	9,784	144	SH		OTR	ALL	144	0	0
Microchip Technology	COMMON STOCKS	595017104	2,194,683	46,468	SH		OTR	ALL	46,468	0	0
Microsoft Corp	COMMON STOCKS	594918104	14,034,840	302,736	SH		OTR	ALL	302,736	0	0
Moody's Corp	COMMON STOCKS	615369105	2,746,453	29,063	SH		OTR	ALL	29,063	0	0
Morgan Stanley	COMMON STOCKS	617446448	3,278,826	94,846	SH		OTR	ALL	94,846	0	0
National Grid Plc-Sp Adr	COMMON STOCKS	636274300	185,666	2,583	SH		OTR	ALL	2,583	0	0
Nextera Energy Inc	CONVERTIBLE PREFERRED STOCK	65339F861	185,988	3,407	SH		OTR	ALL	3,407	0	0
Nextera Energy Inc	CONVERTIBLE PREFERRED STOCK	65339F887	2,487,463	41,520	SH		OTR	ALL	41,520	0	0
Nextera Energy Inc	CONVERTIBLE PREFERRED STOCK	65339F705	2,584,635	41,805	SH		OTR	ALL	41,805	0	0
NextEra Energy, Inc.	COMMON STOCKS	65339F101	12,021,240	128,049	SH		OTR	ALL	128,049	0	0
NGL Energy Partners LP	COMMON STOCKS	62913M107	10,081,987	256,083	SH		OTR	ALL	256,083	0	0
Noble Corp PLC	COMMON STOCKS	G65431101	1,214,789	54,671	SH		OTR	ALL	54,671	0	0
Nordstrom Inc	COMMON STOCKS	655664100	2,249,373	32,900	SH		OTR	ALL	32,900	0	0
Northern Trust Corporation	COMMON STOCKS	665859104	2,437,038	35,823	SH		OTR	ALL	35,823	0	0
Northstar Asset Management	COMMON STOCKS	66705Y104	18	1	SH		OTR	ALL	1	0	0
Northstar Realty Financial Corp	COMMON STOCKS	66704R704	13,550,221	766,849	SH		OTR	ALL	766,849	0	0
Novellus Systems	CONVERTIBLE BOND	670008AD3	1,504,300	681	SH		OTR	ALL	681	0	0
Nustar Logistics Lp	PREFERRED STOCK	67059T204	179,649	6,899	SH		OTR	ALL	6,899	0	0
Nuveen Santa Barbara Dividend Growth Fund	MUTUAL FUND	67065W662	5,897	169	SH		OTR	ALL	169	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,280,716	1,945	SH		OTR	ALL	1,945	0	0
Omega Healthcare Investors Inc	COMMON STOCKS	681936100	11,940,549	349,241	SH		OTR	ALL	349,241	0	0
Omnicare Inc	CONVERTIBLE BOND	681904AQ1	1,292,975	1,165	SH		OTR	ALL	1,165	0	0
Omnicom Group	COMMON STOCKS	681919106	2,366,029	34,360	SH		OTR	ALL	34,360	0	0
One Gas Inc.	COMMON STOCKS	68235P108	68	2	SH		OTR	ALL	2	0	0
ONEOK Inc	COMMON STOCKS	682680103	13,679,105	208,682	SH		OTR	ALL	208,682	0	0
Paragon Offshore PLC	COMMON STOCKS	G6S01W108	112,071	18,223	SH		OTR	ALL	18,223	0	0
Paychex Inc	COMMON STOCKS	704326107	2,446,293	55,346	SH		OTR	ALL	55,346	0	0
Peabody Energy Corp	COMMON STOCKS	704549104	1,484,584	119,918	SH		OTR	ALL	119,918	0	0
People's United Financial	COMMON STOCKS	712704105	1,964,591	135,770	SH		OTR	ALL	135,770	0	0
Perkinelmer Inc	COMMON STOCKS	714046109	2,165,088	49,658	SH		OTR	ALL	49,658	0	0
Perrigo Co Plc	COMMON STOCKS	G97822103	2,446,294	16,288	SH		OTR	ALL	16,288	0	0
Philip Morris Intl Inc	COMMON STOCKS	718172109	10,827,405	129,825	SH		OTR	ALL	129,825	0	0
Pinnacle Foods	COMMON STOCKS	72348P104	32	1	SH		OTR	ALL	1	0	0
Pioneer Nat Res Co	COMMON STOCKS	723787107	2,524,170	12,815	SH		OTR	ALL	12,815	0	0
Pitney Bowes Inc	COMMON STOCKS	724479100	2,448,470	97,978	SH		OTR	ALL	97,978	0	0
Plum Creek Timber Co	COMMON STOCKS	729251108	1,769,298	45,355	SH		OTR	ALL	45,355	0	0
Priceline Com Inc	CONVERTIBLE BOND	741503AQ9	2,395,055	1,779	SH		OTR	ALL	1,779	0	0
Procter & Gamble Company	COMMON STOCKS	742718109	3,349	40	SH		OTR	ALL	40	0	0
Prologis LP	CONVERTIBLE BOND	74340XAT8	1,667,052	1,585	SH		OTR	ALL	1,585	0	0
Prospect Capital Corp	CONVERTIBLE BOND	74348TAD4	1,642,021	1,562	SH		OTR	ALL	1,562	0	0
Quest Diagnostics In	COMMON STOCKS	74834L100	2,098,496	34,583	SH		OTR	ALL	34,583	0	0
Rayonier TRS Holdings Inc.	CONVERTIBLE BOND	75508AAC0	1,797,031	1,334	SH		OTR	ALL	1,334	0	0
Realty Income Corporation	REITS	756109104	3,222	79	SH		OTR	ALL	79	0	0
Reynolds American In	COMMON STOCKS	761713106	2,393,571	40,569	SH		OTR	ALL	40,569	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	2,413,544	49,256	SH		OTR	ALL	49,256	0	0
Roper Industries Inc	COMMON STOCKS	776696106	2,440,409	16,682	SH		OTR	ALL	16,682	0	0
Rpm International Inc	COMMON STOCKS	749685103	3,296	72	SH		OTR	ALL	72	0	0
RPM International Inc.	CONVERTIBLE BOND	749685AT0	1,367,451	1,189	SH		OTR	ALL	1,189	0	0
Ryder Sys Inc	COMMON STOCKS	783549108	2,547,950	28,320	SH		OTR	ALL	28,320	0	0
Safeway Inc	COMMON STOCKS	786514208	2,863,398	83,481	SH		OTR	ALL	83,481	0	0
Sandisk Corp	CONVERTIBLE BOND	80004CAD3	3,614,589	1,874	SH		OTR	ALL	1,874	0	0
Scana Corp	COMMON STOCKS	80589M102	1,902,394	38,347	SH		OTR	ALL	38,347	0	0
Seacor Holdings Inc	CONVERTIBLE BOND	811904AM3	1,044,356	956	SH		OTR	ALL	956	0	0
Seadrill Partners LLC	COMMON STOCKS	Y7545W109	12,005,155	384,904	SH		OTR	ALL	384,904	0	0
Seagate Technology Plc	COMMON STOCKS	G7945M107	2,917,963	50,951	SH		OTR	ALL	50,951	0	0
Seaspan Corp	PREFERRED STOCK	Y75638133	188,694	7,134	SH		OTR	ALL	7,134	0	0
Sempra Energy	COMMON STOCKS	816851109	2,649,147	25,139	SH		OTR	ALL	25,139	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	2,613,207	11,933	SH		OTR	ALL	11,933	0	0
Spdr S&P 500	EXCHANGE TRADED FUND	78462F103	5,923,209	30,064	SH		OTR	ALL	30,064	0	0
Stanley Black & Decker Inc.	CONVERTIBLE PREFERRED STOCK	854502804	1,356,478	12,071	SH		OTR	ALL	12,071	0	0
Stanley Black & Decker Inc.	CONVERTIBLE PREFERRED STOCK	854502309	1,649,683	12,593	SH		OTR	ALL	12,593	0	0
Starwood Ppty Tr Inc	CONVERTIBLE BOND	85571BAA3	1,146,174	1,062	SH		OTR	ALL	1,062	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	2,319,072	29,580	SH		OTR	ALL	29,580	0	0
Target Corp	COMMON STOCKS	87612E106	12,464,419	198,858	SH		OTR	ALL	198,858	0	0
Teco Energy Inc	COMMON STOCKS	872375100	1,971,083	113,411	SH		OTR	ALL	113,411	0	0
Tesoro Corporation	COMMON STOCKS	881609101	2,199,243	36,065	SH		OTR	ALL	36,065	0	0
Tiffany & Co New	COMMON STOCKS	886547108	2,227,553	23,129	SH		OTR	ALL	23,129	0	0
Toll Brothers Inc	CONVERTIBLE BOND	88947EAM2	1,193,148	1,181	SH		OTR	ALL	1,181	0	0
Travelers Companies	COMMON STOCKS	89417E109	2,745,490	29,226	SH		OTR	ALL	29,226	0	0
Trinity Industires Inc	CONVERTIBLE BOND	896522AF6	2,512,377	1,276	SH		OTR	ALL	1,276	0	0
Tupperware Brands Corp	COMMON STOCKS	899896104	160,379	2,323	SH		OTR	ALL	2,323	0	0
Tyson Foods Inc	CONVERTIBLE PREFERRED STOCK	902494301	1,276,626	25,350	SH		OTR	ALL	25,350	0	0
United Parcel Services	COMMON STOCKS	911312106	12,322,715	125,371	SH		OTR	ALL	125,371	0	0
United Technologies Corp	CONVERTIBLE PREFERRED STOCK	913017117	2,685,855	45,608	SH		OTR	ALL	45,608	0	0
Unum Group	COMMON STOCKS	91529Y106	2,248,417	65,399	SH		OTR	ALL	65,399	0	0
Valero Energy Corp	COMMON STOCKS	91913Y100	2,467,347	53,325	SH		OTR	ALL	53,325	0	0
Vanguard Intermediate - Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C870	80,366	937	SH		OTR	ALL	937	0	0
Vodafone Group Plc-Sp Adr	COMMON STOCKS	92857W308	10,994,008	334,266	SH		OTR	ALL	334,266	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	2,444,073	40,579	SH		OTR	ALL	40,579	0	0
W P Carey Inc	COMMON STOCKS	92936U109	11,566,347	181,376	SH		OTR	ALL	181,376	0	0
WellPoint Inc.	CONVERTIBLE BOND	94973VBG1	4,479,347	2,663	SH		OTR	ALL	2,663	0	0
Wells Fargo & Co	CONVERTIBLE PREFERRED STOCK	949746804	3,587,087	2,983	SH		OTR	ALL	2,983	0	0
Wells Fargo & Co	PREFERRED STOCK	949746879	183,261	6,315	SH		OTR	ALL	6,315	0	0
WELLS FARGO & CO NEW COM	COMMON STOCKS	949746101	3,319	64	SH		OTR	ALL	64	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	2,584,801	81,130	SH		OTR	ALL	81,130	0	0
Weyerhaeuser Company	CONVERTIBLE PREFERRED STOCK	962166872	2,064,324	38,207	SH		OTR	ALL	38,207	0	0
WidsdomTree Emegring Markets Equity Income Fund	EXCHANGE TRADED FUND	97717W315	10,654	223	SH		OTR	ALL	223	0	0
Williams Companies Inc	COMMON STOCKS	969457100	15,103,686	272,876	SH		OTR	ALL	272,876	0	0
Windstream Holdings Inc	COMMON STOCKS	97382A101	2,536,598	235,306	SH		OTR	ALL	235,306	0	0
Wisconsin Energy Corp	COMMON STOCKS	976657106	2,039,490	47,430	SH		OTR	ALL	47,430	0	0
Wisdomtree Japan Hedged Equity Fund	EXCHANGE TRADED FUND	97717W851	6,402,555	122,373	SH		OTR	ALL	122,373	0	0
Xilinx Inc	COMMON STOCKS	983919101	1,979,693	46,746	SH		OTR	ALL	46,746	0	0
Xilinx Inc	CONVERTIBLE BOND	983919AF8	1,089,316	727	SH		OTR	ALL	727	0	0
Xl Group Plc	COMMON STOCKS	G98290102	2,239,008	67,501	SH		OTR	ALL	67,501	0	0