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
ADT Corporation	COMMON STOCKS	00101J106	1,213,730	40,593	PRN		OTR	40,593	0	0	0
Alcoa Inc.	CONVERTIBLE PREFERRED STOCK	013817309	1,041,933	30,780	PRN		OTR	30,780	0	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	33,995	2,724	PRN		OTR	2,724	0	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	1,978,989	73,155	PRN		OTR	73,155	0	0	0
Allergan PLC	CONVERTIBLE PREFERRED STOCK	G0177J116	2,129,946	2,254	PRN		OTR	2,254	0	0	0
Altria Group Inc	COMMON STOCKS	02209S103	230,220	4,232	PRN		OTR	4,232	0	0	0
American Tower Corp	CONVERTIBLE PREFERRED STOCK	03027X308	2,053,782	20,605	PRN		OTR	20,605	0	0	0
American Tower Corp - Cl A	COMMON STOCKS	03027X100	2,018,965	22,948	PRN		OTR	22,948	0	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	1,512,240	15,920	PRN		OTR	15,920	0	0	0
Amphenol Corp	COMMON STOCKS	032095101	1,559,579	30,604	PRN		OTR	30,604	0	0	0
Anadarko Pertroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	1,628,995	43,605	PRN		OTR	43,605	0	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	2,811,666	58,000	PRN		OTR	58,000	0	0	0
Aon PLC	COMMON STOCKS	G0408V102	1,718,413	19,393	PRN		OTR	19,393	0	0	0
Apartment Investment & Management Company	COMMON STOCKS	03748R101	1,453,516	39,263	PRN		OTR	39,263	0	0	0
Apollo Invt Corp	CONVERTIBLE BOND	03761UAE6	1,736,559	1,678	PRN		OTR	1,678	0	0	0
ARES CAPITAL CORP	COMMON STOCKS	04010L103	183,490	12,672	PRN		OTR	12,672	0	0	0
Ares Capital Corp Conv Bond	CONVERTIBLE BOND	04010LAB9	2,731,503	2,659	PRN		OTR	2,659	0	0	0
Autozone Inc	COMMON STOCKS	053332102	1,920,320	2,653	PRN		OTR	2,653	0	0	0
Banc of California Inc.	CONVERTIBLE PREFERRED STOCK	05990K700	217,283	3,735	PRN		OTR	3,735	0	0	0
Bank of America Corp	COMMON STOCKS	060505104	1,553,559	99,715	PRN		OTR	99,715	0	0	0
BB&T Corp	COMMON STOCKS	054937107	1,729,661	48,586	PRN		OTR	48,586	0	0	0
BCE Inc New	COMMON STOCKS	05534B760	1,355,851	33,101	PRN		OTR	33,101.837	0	0	0
Bed Bath & Beyond In	COMMON STOCKS	075896100	1,300,113	22,801	PRN		OTR	22,801	0	0	0
Berkshire Hathaway Inc Cl B	COMMON STOCKS	084670702	6,944,582	53,256	PRN		OTR	53,256	0	0	0
Best Buy Inc	COMMON STOCKS	086516101	1,655,217	44,591	PRN		OTR	44,591	0	0	0
BlackRock Global Allocation Fund	MUTUAL FUND	09251T103	3,567	188	PRN		OTR	188.373	0	0	0
Blackrock Inc	COMMON STOCKS	09247X101	1,370,662	4,607	PRN		OTR	4,607.733	0	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,821,584	50,320	PRN		OTR	50,320	0	0	0
Boeing Co	COMMON STOCKS	097023105	1,230,838	9,399	PRN		OTR	9,399.303	0	0	0
Boston Scientific Co	COMMON STOCKS	101137107	1,731,517	105,516	PRN		OTR	105,516	0	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	3,138,428	53,014	PRN		OTR	53,014	0	0	0
Broadcom Corp	COMMON STOCKS	111320107	2,130,436	41,424	PRN		OTR	41,424	0	0	0
Brown-Forman Corporation	COMMON STOCKS	115637209	1,782,184	18,392	PRN		OTR	18,392	0	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,561,041	15,904	PRN		OTR	15,904	0	0	0
Cameron International Corp	COMMON STOCKS	13342B105	1,706,045	27,822	PRN		OTR	27,822	0	0	0
Campbell Soup Co	COMMON STOCKS	134429109	1,714,808	33,836	PRN		OTR	33,836	0	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	1,757,872	22,883	PRN		OTR	22,883	0	0	0
Carmax Inc	COMMON STOCKS	143130102	1,393,723	23,495	PRN		OTR	23,495	0	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T206	939,555	16,066	PRN		OTR	16,066	0	0	0
Cisco Sys Inc	COMMON STOCKS	17275R102	1,374,395	52,357	PRN		OTR	52,357.934	0	0	0
Citigroup Inc.	PREFERRED STOCK	172967358	207,849	7,721	PRN		OTR	7,721	0	0	0
Citrix Systems Inc	CONVERTIBLE BOND	177376AD2	1,673,016	1,578	PRN		OTR	1,578	0	0	0
Clorox Co	COMMON STOCKS	189054109	1,790,368	15,497	PRN		OTR	15,497	0	0	0
CME Group Inc	COMMON STOCKS	12572Q105	1,970,168	21,244	PRN		OTR	21,244	0	0	0
CMS Energy Corp	COMMON STOCKS	125896100	1,644,463	46,559	PRN		OTR	46,559	0	0	0
Coca-Cola Company	COMMON STOCKS	191216100	5,811,661	144,856	PRN		OTR	144,856.972	0	0	0
Constellation Brands	COMMON STOCKS	21036P108	1,944,260	15,528	PRN		OTR	15,528	0	0	0
Consumer Staples Spdr	EXCHANGE TRADED FUND	81369Y308	33,802	716	PRN		OTR	716	0	0	0
Corning Inc	COMMON STOCKS	219350105	1,573,173	91,891	PRN		OTR	91,891	0	0	0
Crown Castle Intl Corp	COMMON STOCKS	22822V101	1,793,898	22,745	PRN		OTR	22,745	0	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	1,816,620	61,874	PRN		OTR	61,874	0	0	0
Darden Restaurants	COMMON STOCKS	237194105	1,679,641	24,506	PRN		OTR	24,506	0	0	0
Davita Health Care Partners Inc	COMMON STOCKS	23918K108	1,504,030	20,794	PRN		OTR	20,794	0	0	0
Delaware Limited Term Div-A	MUTUAL FUND	245912308	12,515	1,474	PRN		OTR	1,474.152	0	0	0
Delta Air Lines, Inc.	COMMON STOCKS	247361702	2,121,857	47,289	PRN		OTR	47,289	0	0	0
Developers Diversified Realty Corp	CONVERTIBLE BOND	251591AX1	2,037,783	1,894	PRN		OTR	1,894	0	0	0
Dollar General Corp.	COMMON STOCKS	256677105	1,767,391	24,398	PRN		OTR	24,398	0	0	0
Dollar Tree, Inc.	COMMON STOCKS	256746108	323,767	4,857	PRN		OTR	4,857	0	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U885	2,364,135	42,265	PRN		OTR	42,265	0	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U869	2,188,035	44,151	PRN		OTR	44,151	0	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	1,725,582	21,829	PRN		OTR	21,829	0	0	0
DTE Energy Co	COMMON STOCKS	233331107	1,683,510	20,947	PRN		OTR	20,947	0	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	1,202,985	11,457	PRN		OTR	11,457	0	0	0
Ebay Inc	COMMON STOCKS	278642103	1,106,765	45,285	PRN		OTR	45,285	0	0	0
Ecolab Inc	COMMON STOCKS	278865100	1,907,591	17,386	PRN		OTR	17,386	0	0	0
Energy Transfer Partners LP	COMMON STOCKS	29273R109	782,013	19,040	PRN		OTR	19,040.987	0	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	202,176	6,577	PRN		OTR	6,577	0	0	0
Equifax Inc	COMMON STOCKS	294429105	1,553,616	15,987	PRN		OTR	15,987	0	0	0
Exelon Corp	CONVERTIBLE PREFERRED STOCK	30161N127	1,346,352	30,719	PRN		OTR	30,719	0	0	0
Fastenal Co.	COMMON STOCKS	311900104	1,387,335	37,895	PRN		OTR	37,895	0	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	1,804,250	26,897	PRN		OTR	26,897	0	0	0
Ford Motor Co	COMMON STOCKS	345370860	1,224,692	90,250	PRN		OTR	90,250.028	0	0	0
Frontier Communications Conv Prf	CONVERTIBLE PREFERRED STOCK	35906A207	205,481	2,196	PRN		OTR	2,196	0	0	0
General Growth Properties, Inc.	REITS - usd	370023103	1,548,227	59,616	PRN		OTR	59,616	0	0	0
Gilead Sciences Inc. Senior Note Conv B/E	CONVERTIBLE BOND	375558AP8	4,756,428	1,097	PRN		OTR	1,097	0	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	1,412,321	8,128	PRN		OTR	8,128	0	0	0
Grainger W W Inc	COMMON STOCKS	384802104	1,422,721	6,617	PRN		OTR	6,617	0	0	0
Guggenheim Dow Val 20 RE	COMMON STOCKS	40169K272	18,057	1,936	PRN		OTR	1,936	0	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	563,590	11,261	PRN		OTR	11,261	0	0	0
Hershey Foods Corp	COMMON STOCKS	427866108	1,713,194	18,646	PRN		OTR	18,646	0	0	0
Home Depot Inc	COMMON STOCKS	437076102	4,524,551	39,177	PRN		OTR	39,177	0	0	0
Huntington Bancshare	COMMON STOCKS	446150104	1,477,184	139,357	PRN		OTR	139,357	0	0	0
Income Fund of America	MUTUAL FUND	453320103	10,297	519	PRN		OTR	519.302	0	0	0
Intel Corp	CONVERTIBLE BOND	458140AF7	3,603,060	2,368	PRN		OTR	2,368	0	0	0
Intel Corp	CONVERTIBLE BOND	458140AD2	2,793,566	2,266	PRN		OTR	2,266	0	0	0
Intuitive Surgical Inc	COMMON STOCKS	46120E602	1,612,666	3,509	PRN		OTR	3,509	0	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	1,281,241	41,026	PRN		OTR	41,026	0	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	617,428	5,873	PRN		OTR	5,873	0	0	0
iShares Barclays 3-7 Year Tr	EXCHANGE TRADED FUND	464288661	166,781	1,338	PRN		OTR	1,338	0	0	0
iShares Currency Hedged Germany MSCI ETF	EXCHANGE TRADED FUND	46434V704	5,118,024	225,563	PRN		OTR	225,563	0	0	0
iShares Currency Hedged MSCI Spain ETF	EXCHANGE TRADED FUND	46435G813	5,001,029	236,528	PRN		OTR	236,528	0	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	819,610	16,246	PRN		OTR	16,246	0	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	502,655	6,035	PRN		OTR	6,035	0	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	1,076,038	9,269	PRN		OTR	9,269	0	0	0
iShares Intermediate Credit	EXCHANGE TRADED FUND	464288638	1,050,487	9,673	PRN		OTR	9,673	0	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	243,836	2,869	PRN		OTR	2,869	0	0	0
iShares Lehman 20+ Tr	EXCHANGE TRADED FUND	464287432	25,449	206	PRN		OTR	206	0	0	0
iShares Lehman 7-10 Tr	EXCHANGE TRADED FUND	464287440	43,795	406	PRN		OTR	406	0	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	847,910	7,735	PRN		OTR	7,735	0	0	0
ISHARES MSCI HONG KONG INDEX FUND	EXCHANGE TRADED FUND	464286871	5,159,164	269,830	PRN		OTR	269,830.8	0	0	0
iShares MSCI India ETF	EXCHANGE TRADED FUND	46429B598	5,594,148	195,805	PRN		OTR	195,805	0	0	0
iShares MSCI Ireland Capped ETF	EXCHANGE TRADED FUND	46429B507	5,268,202	135,325	PRN		OTR	135,325	0	0	0
iShares MSCI United Kingdom	EXCHANGE TRADED FUND	46434V548	5,294,773	323,049	PRN		OTR	323,049	0	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	47,707	431	PRN		OTR	431	0	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625H100	2,965,756	48,642	PRN		OTR	48,642.874	0	0	0
Janus Balanced Fnd S	MUTUAL FUND	47103C886	4,171	143	PRN		OTR	143.252	0	0	0
Janus Capitol Group Inc.	CONVERTIBLE BOND	47102XAH8	1,044,954	788	PRN		OTR	788	0	0	0
Janus Flexible Bond F-T	MUTUAL FUND	471023606	7,386	706	PRN		OTR	706.157	0	0	0
Johnson & Johnson	COMMON STOCKS	478160104	1,330,941	14,257	PRN		OTR	14,257.537	0	0	0
JPMorgan Chase & Co	PREFERRED STOCK	48127A161	217,266	8,110	PRN		OTR	8,110	0	0	0
Kinder Morgan Inc	COMMON STOCKS	49456B101	1,042,838	37,674	PRN		OTR	37,674.787	0	0	0
L Brands Inc	COMMON STOCKS	501797104	1,814,316	20,130	PRN		OTR	20,130	0	0	0
Laclede Group Inc	CONVERTIBLE PREFERRED STOCK	505597500	2,003,057	37,711	PRN		OTR	37,711	0	0	0
Lam Research Corp 1.25	CONVERTIBLE BOND	512807AL2	1,906,462	1,504	PRN		OTR	1,504	0	0	0
Level 3 Communication	COMMON STOCKS	52729N308	1,295,758	29,658	PRN		OTR	29,658	0	0	0
LyondellBasell Industries NV	COMMON STOCKS	N53745100	1,175,542	14,102	PRN		OTR	14,102	0	0	0
Macquarie Infrastructure	CONVERTIBLE BOND	55608BAA3	1,403,433	1,219	PRN		OTR	1,219	0	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	881,834	57,262	PRN		OTR	57,262	0	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	1,709,021	36,888	PRN		OTR	36,888	0	0	0
Martin Marietta Materials	COMMON STOCKS	573284106	1,578,608	10,389	PRN		OTR	10,389	0	0	0
McDonalds Corp	COMMON STOCKS	580135101	3,243,016	32,914	PRN		OTR	32,914	0	0	0
Mckesson Corp	COMMON STOCKS	58155Q103	1,971,124	10,653	PRN		OTR	10,653	0	0	0
Merck & Co Inc	COMMON STOCKS	58933Y105	3,667,454	74,255	PRN		OTR	74,255	0	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	987,655	1,137	PRN		OTR	1,137	0	0	0
Microsoft Corp	COMMON STOCKS	594918104	1,635,659	36,955	PRN		OTR	36,955.701	0	0	0
Mohawk Industries Inc	COMMON STOCKS	608190104	1,636,837	9,004	PRN		OTR	9,004	0	0	0
Moody's Corp	COMMON STOCKS	615369105	1,605,864	16,353	PRN		OTR	16,353	0	0	0
Morgan Stanley	COMMON STOCKS	617446448	1,984,815	63,010	PRN		OTR	63,010	0	0	0
MORGAN STANLEY REPSTG 1/1000 FXD/VAR	PREFERRED STOCK	61763E207	210,926	7,891	PRN		OTR	7,891	0	0	0
Newell Rubbermaid Inc.	COMMON STOCKS	651229106	1,584,706	39,907	PRN		OTR	39,907	0	0	0
Newmont Mining Corp	CONVERTIBLE BOND	651639AJ5	1,158,655	1,157	PRN		OTR	1,157	0	0	0
NextEra Energy Inc	COMMON STOCKS	65339F101	1,299,370	13,320	PRN		OTR	13,320.044	0	0	0
Nextera Energy Inc	CONVERTIBLE PREFERRED STOCK	65339F861	3,072,406	57,226	PRN		OTR	57,226	0	0	0
NextEra Inc	CONVERTIBLE PREFERRED STOCK	65339F846	1,112,962	21,677	PRN		OTR	21,677	0	0	0
NGL Energy Partners LP	COMMON STOCKS	62913M107	588,635	29,475	PRN		OTR	29,475.977	0	0	0
Northstar Realty Financial Corp	COMMON STOCKS	66704R704	1,168,897	94,647	PRN		OTR	94,647.561	0	0	0
Novellus Systems	CONVERTIBLE BOND	670008AD3	2,523,795	1,275	PRN		OTR	1,275	0	0	0
Nucor Corp	COMMON STOCKS	670346105	1,269,527	33,809	PRN		OTR	33,809	0	0	0
Nustar Logistics Lp	PREFERRED STOCK	67059T204	198,270	7,998	PRN		OTR	7,998	0	0	0
NVIDIA Corp	CONVERTIBLE BOND	67066GAC8	1,157,657	874	PRN		OTR	874	0	0	0
Occidental Pete Corp	COMMON STOCKS	674599105	1,461,848	22,099	PRN		OTR	22,099	0	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,169,209	1,865	PRN		OTR	1,865	0	0	0
Omega Healthcare Investors Inc	COMMON STOCKS	681936100	1,450,023	41,252	PRN		OTR	41,252.453	0	0	0
Oracle Systems Corp	COMMON STOCKS	68389X105	3,351,177	92,779	PRN		OTR	92,779	0	0	0
O'Reilly Automotive Inc.	COMMON STOCKS	67103H107	2,033,750	8,135	PRN		OTR	8,135	0	0	0
Paccar Inc	COMMON STOCKS	693718108	1,431,075	27,431	PRN		OTR	27,431	0	0	0
Paychex Inc	COMMON STOCKS	704326107	3,108,302	65,259	PRN		OTR	65,259.333	0	0	0
PayPal Inc	COMMON STOCKS	70450Y103	1,405,646	45,285	PRN		OTR	45,285	0	0	0
People's United Financial	COMMON STOCKS	712704105	1,508,790	95,918	PRN		OTR	95,918	0	0	0
Pepsico Inc	COMMON STOCKS	713448108	4,038,586	42,827	PRN		OTR	42,827	0	0	0
Pfizer Inc	COMMON STOCKS	717081103	1,308,101	41,646	PRN		OTR	41,646.014	0	0	0
PG&E Corporation	COMMON STOCKS	69331C108	1,871,390	35,443	PRN		OTR	35,443	0	0	0
Philip Morris Intl Inc	COMMON STOCKS	718172109	1,102,334	13,895	PRN		OTR	13,895.555	0	0	0
Pitney Bowes Inc	COMMON STOCKS	724479100	1,279,908	64,479	PRN		OTR	64,479	0	0	0
Precision Castparts Corp	COMMON STOCKS	740189105	2,147,329	9,348	PRN		OTR	9,348	0	0	0
Priceline Com Inc	CONVERTIBLE BOND	741503AQ9	3,062,645	2,178	PRN		OTR	2,178	0	0	0
Priceline.com	COMMON STOCKS	741503403	2,476,193	2,002	PRN		OTR	2,002	0	0	0
Proctor & Gamble Co	COMMON STOCKS	742718109	1,293,912	17,986	PRN		OTR	17,986	0	0	0
Progressive Corp Ohi	COMMON STOCKS	743315103	1,888,680	61,641	PRN		OTR	61,641	0	0	0
Prologis	COMMON STOCKS	74340W103	1,757,929	45,191	PRN		OTR	45,191	0	0	0
Prospect Capital Corp	CONVERTIBLE BOND	74348TAD4	1,461,552	1,416	PRN		OTR	1,416	0	0	0
Quanta Services	COMMON STOCKS	74762E102	1,272,429	52,558	PRN		OTR	52,558	0	0	0
Ralph Lauren Corp Cl A	COMMON STOCKS	751212101	1,391,924	11,780	PRN		OTR	11,780	0	0	0
Realty Income Corporation	REITS - usd	756109104	1,424,353	30,056	PRN		OTR	30,056	0	0	0
Red Hat Inc	COMMON STOCKS	756577102	1,562,599	21,739	PRN		OTR	21,739	0	0	0
Regeneron Pharmaceuticals	COMMON STOCKS	75886F107	2,024,754	4,353	PRN		OTR	4,353	0	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	1,403,728	27,438	PRN		OTR	27,438	0	0	0
RPM International Inc.	CONVERTIBLE BOND	749685AT0	1,923,558	1,708	PRN		OTR	1,708	0	0	0
Safeway Casa Ley CVR	WARRANTS	786cvr209	84,724	83,481	PRN		OTR	83,481	0	0	0
Safeway PDC, LLC CVR	WARRANTS	786cvr308	4,073	83,481	PRN		OTR	83,481	0	0	0
Sandisk Corp	CONVERTIBLE BOND	80004CAD3	2,130,593	1,708	PRN		OTR	1,708	0	0	0
Scana Corp	COMMON STOCKS	80589M102	1,614,324	28,694	PRN		OTR	28,694	0	0	0
Schlumberger Ltd	COMMON STOCKS	806857108	2,638,999	38,263	PRN		OTR	38,263	0	0	0
Seacor Holdings Inc	CONVERTIBLE BOND	811904AM3	850,898	873	PRN		OTR	873	0	0	0
Seagate Technology Plc	COMMON STOCKS	G7945M107	1,324,377	29,562	PRN		OTR	29,562	0	0	0
Seaspan Corp	PREFERRED STOCK	Y75638133	196,005	8,210	PRN		OTR	8,210	0	0	0
SECTOR HEALTHCARE SELECT SECTOR SPDR ETF	EXCHANGE TRADED FUND	81369Y209	53,911	814	PRN		OTR	814	0	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	1,469,902	6,598	PRN		OTR	6,598	0	0	0
Snap On Tools Corp	COMMON STOCKS	833034101	1,513,777	10,029	PRN		OTR	10,029	0	0	0
Southwest Airlines co	COMMON STOCKS	844741108	1,813,671	47,678	PRN		OTR	47,678	0	0	0
Southwestern Energy Co PFD	CONVERTIBLE PREFERRED STOCK	845467208	1,294,107	41,340	PRN		OTR	41,340	0	0	0
Spdr S&P 500	EXCHANGE TRADED FUND	78462F103	5,549,604	28,960	PRN		OTR	28,960	0	0	0
St Jude Med Inc	COMMON STOCKS	790849103	1,526,714	24,199	PRN		OTR	24,199	0	0	0
Stanley Black & Decker Inc	COMMON STOCKS	854502101	1,587,756	16,372	PRN		OTR	16,372	0	0	0
Stanley Black & Decker Inc PFD	CONVERTIBLE PREFERRED STOCK	854502309	1,465,204	10,980	PRN		OTR	10,980	0	0	0
Stanley Black & Decker Inc.	CONVERTIBLE PREFERRED STOCK	854502804	1,289,676	11,572	PRN		OTR	11,572	0	0	0
Starbucks Corp	COMMON STOCKS	855244109	3,111,705	54,745	PRN		OTR	54,745	0	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	945,893	9,300	PRN		OTR	9,300	0	0	0
Suntrust Bks Inc	COMMON STOCKS	867914103	1,604,320	41,954	PRN		OTR	41,954	0	0	0
Target Corp	COMMON STOCKS	87612E106	1,391,606	17,691	PRN		OTR	17,691.418	0	0	0
Teradata Corp	COMMON STOCKS	88076W103	965,236	33,330	PRN		OTR	33,330	0	0	0
Tesoro Corporation	COMMON STOCKS	881609101	1,711,035	17,596	PRN		OTR	17,596	0	0	0
Textron Inc	COMMON STOCKS	883203101	1,336,634	35,511	PRN		OTR	35,511	0	0	0
The Bond Fund of America	MUTUAL FUND	097873103	7,681	602	PRN		OTR	602.931	0	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	2,283,456	18,674	PRN		OTR	18,674	0	0	0
Time Warner Inc	COMMON STOCKS	887317303	2,153,593	31,325	PRN		OTR	31,325	0	0	0
Total Sys Svcs Inc	COMMON STOCKS	891906109	1,672,005	36,804	PRN		OTR	36,804	0	0	0
Travelers Companies	COMMON STOCKS	89417E109	1,966,712	19,760	PRN		OTR	19,760	0	0	0
Trinity Industires Inc	CONVERTIBLE BOND	896522AF6	1,391,599	1,153	PRN		OTR	1,153	0	0	0
Tyson Foods Inc	CONVERTIBLE PREFERRED STOCK	902494301	1,741,294	33,560	PRN		OTR	33,560	0	0	0
Union Pac Corp	COMMON STOCKS	907818108	2,695,178	30,485	PRN		OTR	30,485	0	0	0
United Parcel Services	COMMON STOCKS	911312106	1,527,799	15,480	PRN		OTR	15,480.794	0	0	0
United Technologies	COMMON STOCKS	913017109	2,534,880	28,485	PRN		OTR	28,485	0	0	0
Universal Health Services - B	PREFERRED STOCK	913903100	1,653,482	13,248	PRN		OTR	13,248	0	0	0
Valero Energy Corp	COMMON STOCKS	91913Y100	2,012,268	33,482	PRN		OTR	33,482	0	0	0
Vanguard Intermediate - Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C870	137,115	1,605	PRN		OTR	1,605	0	0	0
Varian Medical Systems Inc	COMMON STOCKS	92220P105	1,315,423	17,829	PRN		OTR	17,829	0	0	0
Visa. Inc - Class A Shares	COMMON STOCKS	92826C839	4,715,424	67,692	PRN		OTR	67,692	0	0	0
Vodafone Group Plc-Sp Adr	COMMON STOCKS	92857W308	1,319,152	41,561	PRN		OTR	41,561.213	0	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	1,629,416	18,267	PRN		OTR	18,267	0	0	0
W P Carey Inc	COMMON STOCKS	92936U109	1,297,245	22,439	PRN		OTR	22,439.81	0	0	0
Wal-Mart Stores Inc	COMMON STOCKS	931142103	3,187,404	49,158	PRN		OTR	49,158	0	0	0
Wells Fargo & Co	PREFERRED STOCK	949746556	205,147	8,045	PRN		OTR	8,045	0	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,255,991	2,778	PRN		OTR	2,778	0	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	1,644,677	26,802	PRN		OTR	26,802	0	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	1,477,207	54,031	PRN		OTR	54,031	0	0	0
Weyerhaeuser Company	CONVERTIBLE PREFERRED STOCK	962166872	1,714,004	35,777	PRN		OTR	35,777	0	0	0
Whole Foods Market Inc	COMMON STOCKS	966837106	1,146,869	36,236	PRN		OTR	36,236	0	0	0
Wisconsin Energy Corp	COMMON STOCKS	92939U106	1,631,666	31,246	PRN		OTR	31,246	0	0	0
Wisdomtree Japan Hedged Equity Fund	EXCHANGE TRADED FUND	97717W851	5,146,865	105,772	PRN		OTR	105,772	0	0	0
Xilinx Inc	CONVERTIBLE BOND	983919AF8	1,086,626	719	PRN		OTR	719	0	0	0
Yahoo Inc Conv Bond	CONVERTIBLE BOND	984332AF3	1,042,145	1,074	PRN		OTR	1,074	0	0	0
Zions Bancorp	COMMON STOCKS	989701107	1,408,505	51,144	PRN		OTR	51,144	0	0	0