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
Estimated average burden
hours per response:		23.8

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
Vodafone Group Plc-Sp Adr	AMERICAN DEPOSITARY RECEIPT	92857W308	591,777	18,344	PRN		OTR	18,344	0	0	0
ADT Corporation	COMMON STOCKS	00101J106	1,338,757	40,593	PRN		OTR	40,593	0	0	0
Altria Group Inc	COMMON STOCKS	02209S103	647,528	11,124	PRN		OTR	11,124	0	0	0
American Tower REIT	COMMON STOCKS	03027X100	2,224,808	22,948	PRN		OTR	22,948	0	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	1,651,063	15,920	PRN		OTR	15,920	0	0	0
Amgen Inc	COMMON STOCKS	031162100	400,305	2,466	PRN		OTR	2,466	0	0	0
Amphenol Corp	COMMON STOCKS	032095101	1,598,446	30,604	PRN		OTR	30,604	0	0	0
Aon PLC	COMMON STOCKS	G0408V102	1,788,228	19,393	PRN		OTR	19,393	0	0	0
Apartment Investment & Management Company	COMMON STOCKS	03748R101	1,571,697	39,263	PRN		OTR	39,263	0	0	0
Ares Capital Corp	COMMON STOCKS	04010L103	180,519	12,668	PRN		OTR	12,668	0	0	0
Autozone Inc	COMMON STOCKS	053332102	1,968,287	2,653	PRN		OTR	2,653	0	0	0
Bank of America Corp	COMMON STOCKS	060505104	1,678,203	99,715	PRN		OTR	99,715	0	0	0
BB&T Corp	COMMON STOCKS	054937107	1,837,036	48,586	PRN		OTR	48,586	0	0	0
BCE Inc New	COMMON STOCKS	05534B760	581,733	15,063	PRN		OTR	15,063	0	0	0
Bed Bath & Beyond In	COMMON STOCKS	075896100	1,100,148	22,801	PRN		OTR	22,801	0	0	0
Berkshire Hathaway Inc Cl B	COMMON STOCKS	084670702	7,031,922	53,256	PRN		OTR	53,256	0	0	0
Best Buy Inc	COMMON STOCKS	086516101	1,357,795	44,591	PRN		OTR	44,591	0	0	0
Blackrock Inc	COMMON STOCKS	09247X101	5,107	15	PRN		OTR	15	0	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,676,159	50,320	PRN		OTR	50,320	0	0	0
Boeing Co	COMMON STOCKS	097023105	389,525	2,694	PRN		OTR	2,694	0	0	0
Boston Scientific Co	COMMON STOCKS	101137107	1,945,715	105,516	PRN		OTR	105,516	0	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	3,646,833	53,014	PRN		OTR	53,014	0	0	0
Broadcom Corp	COMMON STOCKS	111320107	2,395,135	41,424	PRN		OTR	41,424	0	0	0
Brown-Forman Corporation	COMMON STOCKS	115637209	1,825,957	18,392	PRN		OTR	18,392	0	0	0
Cameron International Corp	COMMON STOCKS	13342B105	1,758,350	27,822	PRN		OTR	27,822	0	0	0
Campbell Soup Co	COMMON STOCKS	134429109	1,778,081	33,836	PRN		OTR	33,836	0	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	2,042,765	22,883	PRN		OTR	22,883	0	0	0
Carmax Inc	COMMON STOCKS	143130102	1,268,025	23,495	PRN		OTR	23,495	0	0	0
Cisco Sys Inc	COMMON STOCKS	17275R102	611,476	22,518	PRN		OTR	22,518	0	0	0
Clorox Co	COMMON STOCKS	189054109	1,965,484	15,497	PRN		OTR	15,497	0	0	0
CME Group Inc	COMMON STOCKS	12572Q105	1,924,706	21,244	PRN		OTR	21,244	0	0	0
CMS Energy Corp	COMMON STOCKS	125896100	1,679,848	46,559	PRN		OTR	46,559	0	0	0
Coca-Cola Company	COMMON STOCKS	191216100	5,299,116	123,350	PRN		OTR	123,350	0	0	0
Constellation Brands	COMMON STOCKS	21036P108	2,211,808	15,528	PRN		OTR	15,528	0	0	0
Corning Inc	COMMON STOCKS	219350105	1,679,767	91,891	PRN		OTR	91,891	0	0	0
Crown Castle Intl Corp	COMMON STOCKS	22822V101	1,966,305	22,745	PRN		OTR	22,745	0	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	1,981,824	61,874	PRN		OTR	61,874	0	0	0
Darden Restaurants	COMMON STOCKS	237194105	2,148,486	33,760	PRN		OTR	33,760	0	0	0
Davita Health Care Partners Inc	COMMON STOCKS	23918K108	1,449,549	20,794	PRN		OTR	20,794	0	0	0
Delta Air Lines, Inc.	COMMON STOCKS	247361702	2,397,079	47,289	PRN		OTR	47,289	0	0	0
Dollar General Corp.	COMMON STOCKS	256677105	1,753,484	24,398	PRN		OTR	24,398	0	0	0
Dollar Tree, Inc.	COMMON STOCKS	256746108	375,057	4,857	PRN		OTR	4,857	0	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	2,034,462	21,829	PRN		OTR	21,829	0	0	0
DTE Energy Co	COMMON STOCKS	233331107	1,679,739	20,947	PRN		OTR	20,947	0	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	1,190,726	11,457	PRN		OTR	11,457	0	0	0
Ebay Inc	COMMON STOCKS	278642103	1,244,431	45,285	PRN		OTR	45,285	0	0	0
Ecolab Inc	COMMON STOCKS	278865100	1,988,610	17,386	PRN		OTR	17,386	0	0	0
Edison International	COMMON STOCKS	281020107	361,181	6,100	PRN		OTR	6,100	0	0	0
Equifax Inc	COMMON STOCKS	294429105	1,780,472	15,987	PRN		OTR	15,987	0	0	0
Fastenal Co.	COMMON STOCKS	311900104	1,546,873	37,895	PRN		OTR	37,895	0	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	1,629,958	26,897	PRN		OTR	26,897	0	0	0
Ford Motor Co	COMMON STOCKS	345370860	582,241	41,323	PRN		OTR	41,323	0	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	1,464,909	8,128	PRN		OTR	8,128	0	0	0
Grainger W W Inc	COMMON STOCKS	384802104	1,340,538	6,617	PRN		OTR	6,617	0	0	0
Hershey Foods Corp	COMMON STOCKS	427866108	1,664,528	18,646	PRN		OTR	18,646	0	0	0
Home Depot Inc	COMMON STOCKS	437076102	5,181,158	39,177	PRN		OTR	39,177	0	0	0
Huntington Bancshare	COMMON STOCKS	446150104	1,541,288	139,357	PRN		OTR	139,357	0	0	0
Intuitive Surgical Inc	COMMON STOCKS	46120E602	1,916,475	3,509	PRN		OTR	3,509	0	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	1,373,550	41,026	PRN		OTR	41,026	0	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625H100	2,273,544	34,432	PRN		OTR	34,432	0	0	0
Johnson & Johnson	COMMON STOCKS	478160104	612,519	5,963	PRN		OTR	5,963	0	0	0
L Brands Inc	COMMON STOCKS	501797104	1,928,856	20,130	PRN		OTR	20,130	0	0	0
Level 3 Communication	COMMON STOCKS	52729N308	1,612,208	29,658	PRN		OTR	29,658	0	0	0
LyondellBasell Industries NV	COMMON STOCKS	N53745100	562,416	6,472	PRN		OTR	6,472	0	0	0
Macquarie Infrastructure Corp	COMMON STOCKS	55608B105	640,477	8,822	PRN		OTR	8,822	0	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	720,928	57,262	PRN		OTR	57,262	0	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	1,912,273	36,888	PRN		OTR	36,888	0	0	0
Martin Marietta Materials	COMMON STOCKS	573284106	1,418,929	10,389	PRN		OTR	10,389	0	0	0
McDonalds Corp	COMMON STOCKS	580135101	3,888,459	32,914	PRN		OTR	32,914	0	0	0
Mckesson Corp	COMMON STOCKS	58155Q103	2,101,091	10,653	PRN		OTR	10,653	0	0	0
Merck & Co Inc	COMMON STOCKS	58933Y105	3,922,149	74,255	PRN		OTR	74,255	0	0	0
Microsoft Corp	COMMON STOCKS	594918104	664,262	11,973	PRN		OTR	11,973	0	0	0
Mohawk Industries Inc	COMMON STOCKS	608190104	1,705,267	9,004	PRN		OTR	9,004	0	0	0
Moody's Corp	COMMON STOCKS	615369105	1,640,860	16,353	PRN		OTR	16,353	0	0	0
Morgan Stanley	COMMON STOCKS	617446448	2,004,348	63,010	PRN		OTR	63,010	0	0	0
Newell Rubbermaid Inc.	COMMON STOCKS	651229106	1,759,100	39,907	PRN		OTR	39,907	0	0	0
NextEra Energy Inc	COMMON STOCKS	65339F101	387,094	3,726	PRN		OTR	3,726	0	0	0
NGL Energy Partners LP	COMMON STOCKS	62913M107	11	1	PRN		OTR	1	0	0	0
Nucor Corp	COMMON STOCKS	670346105	1,362,502	33,809	PRN		OTR	33,809	0	0	0
Occidental Pete Corp	COMMON STOCKS	674599105	1,494,113	22,099	PRN		OTR	22,099	0	0	0
Oracle Systems Corp	COMMON STOCKS	68389X105	3,389,216	92,779	PRN		OTR	92,779	0	0	0
O'Reilly Automotive Inc.	COMMON STOCKS	67103H107	2,061,571	8,135	PRN		OTR	8,135	0	0	0
Paccar Inc	COMMON STOCKS	693718108	1,300,229	27,431	PRN		OTR	27,431	0	0	0
Paychex Inc	COMMON STOCKS	704326107	2,430,401	45,952	PRN		OTR	45,952	0	0	0
PayPal Inc	COMMON STOCKS	70450Y103	1,639,317	45,285	PRN		OTR	45,285	0	0	0
People's United Financial	COMMON STOCKS	712704105	1,549,075	95,918	PRN		OTR	95,918	0	0	0
Pepsico Inc	COMMON STOCKS	713448108	4,279,273	42,827	PRN		OTR	42,827	0	0	0
Pfizer Inc	COMMON STOCKS	717081103	585,882	18,150	PRN		OTR	18,150	0	0	0
PG&E Corporation	COMMON STOCKS	69331C108	1,885,213	35,443	PRN		OTR	35,443	0	0	0
Pinnacle Foods	COMMON STOCKS	72348P104	42	1	PRN		OTR	1	0	0	0
Pitney Bowes Inc	COMMON STOCKS	724479100	1,331,491	64,479	PRN		OTR	64,479	0	0	0
Precision Castparts Corp	COMMON STOCKS	740189105	2,168,829	9,348	PRN		OTR	9,348	0	0	0
Priceline.com	COMMON STOCKS	741503403	2,552,449	2,002	PRN		OTR	2,002	0	0	0
Proctor & Gamble Co	COMMON STOCKS	742718109	611,854	7,705	PRN		OTR	7,705	0	0	0
Progressive Corp Ohi	COMMON STOCKS	743315103	1,960,183	61,641	PRN		OTR	61,641	0	0	0
Prologis	COMMON STOCKS	74340W103	1,939,597	45,191	PRN		OTR	45,191	0	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	567,427	6,970	PRN		OTR	6,970	0	0	0
Quanta Services	COMMON STOCKS	74762E102	1,064,299	52,558	PRN		OTR	52,558	0	0	0
Ralph Lauren Corp Cl A	COMMON STOCKS	751212101	1,313,234	11,780	PRN		OTR	11,780	0	0	0
Red Hat Inc	COMMON STOCKS	756577102	1,800,206	21,739	PRN		OTR	21,739	0	0	0
Regeneron Pharmaceuticals	COMMON STOCKS	75886F107	2,363,113	4,353	PRN		OTR	4,353	0	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	1,293,427	27,438	PRN		OTR	27,438	0	0	0
Scana Corp	COMMON STOCKS	80589M102	1,735,700	28,694	PRN		OTR	28,694	0	0	0
Schlumberger Ltd	COMMON STOCKS	806857108	2,668,844	38,263	PRN		OTR	38,263	0	0	0
Seadrill Partners LLC	COMMON STOCKS	Y7545W109	3	1	PRN		OTR	1	0	0	0
Seagate Technology Plc	COMMON STOCKS	G7945M107	1,083,742	29,562	PRN		OTR	29,562	0	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	1,712,840	6,598	PRN		OTR	6,598	0	0	0
Snap On Tools Corp	COMMON STOCKS	833034101	1,719,271	10,029	PRN		OTR	10,029	0	0	0
Southwest Airlines co	COMMON STOCKS	844741108	2,053,014	47,678	PRN		OTR	47,678	0	0	0
St Jude Med Inc	COMMON STOCKS	790849103	1,494,772	24,199	PRN		OTR	24,199	0	0	0
Stanley Black & Decker Inc	COMMON STOCKS	854502101	1,747,383	16,372	PRN		OTR	16,372	0	0	0
Starbucks Corp	COMMON STOCKS	855244109	3,286,342	54,745	PRN		OTR	54,745	0	0	0
Suntrust Bks Inc	COMMON STOCKS	867914103	1,797,309	41,954	PRN		OTR	41,954	0	0	0
Target Corp	COMMON STOCKS	87612E106	585,744	8,067	PRN		OTR	8,067	0	0	0
Teradata Corp	COMMON STOCKS	88076W103	880,578	33,330	PRN		OTR	33,330	0	0	0
Tesoro Corporation	COMMON STOCKS	881609101	1,854,090	17,596	PRN		OTR	17,596	0	0	0
Textron Inc	COMMON STOCKS	883203101	1,491,817	35,511	PRN		OTR	35,511	0	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	2,648,906	18,674	PRN		OTR	18,674	0	0	0
Time Warner Inc	COMMON STOCKS	887317303	2,025,787	31,325	PRN		OTR	31,325	0	0	0
Total Sys Svcs Inc	COMMON STOCKS	891906109	1,832,839	36,804	PRN		OTR	36,804	0	0	0
Travelers Companies	COMMON STOCKS	89417E109	2,230,113	19,760	PRN		OTR	19,760	0	0	0
Union Pac Corp	COMMON STOCKS	907818108	2,383,927	30,485	PRN		OTR	30,485	0	0	0
United Parcel Services	COMMON STOCKS	911312106	599,224	6,227	PRN		OTR	6,227	0	0	0
United Technologies	COMMON STOCKS	913017109	2,736,553	28,485	PRN		OTR	28,485	0	0	0
Universal Health Services - B	COMMON STOCKS	913903100	1,583,003	13,248	PRN		OTR	13,248	0	0	0
Valero Energy Corp	COMMON STOCKS	91913Y100	2,367,512	33,482	PRN		OTR	33,482	0	0	0
Varian Medical Systems Inc	COMMON STOCKS	92220P105	1,440,583	17,829	PRN		OTR	17,829	0	0	0
Visa. Inc - Class A Shares	COMMON STOCKS	92826C839	5,249,514	67,692	PRN		OTR	67,692	0	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	1,734,816	18,267	PRN		OTR	18,267	0	0	0
Wal-Mart Stores Inc	COMMON STOCKS	931142103	3,013,385	49,158	PRN		OTR	49,158	0	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	1,619,849	54,031	PRN		OTR	54,031	0	0	0
Whole Foods Market Inc	COMMON STOCKS	966837106	1,213,906	36,236	PRN		OTR	36,236	0	0	0
Wisconsin Energy Corp	COMMON STOCKS	92939U106	635,423	12,384	PRN		OTR	12,384	0	0	0
Zions Bancorp	COMMON STOCKS	989701107	1,396,231	51,144	PRN		OTR	51,144	0	0	0
Apollo Invt Corp	CONVERTIBLE BOND	03761UAE6	1,552,161	1,472	PRN		OTR	1,472	0	0	0
Ares Capital Corp Conv Bond	CONVERTIBLE BOND	04010LAB9	2,722,885	2,599	PRN		OTR	2,599	0	0	0
Citrix Systems Inc	CONVERTIBLE BOND	177376AD2	1,708,562	1,564	PRN		OTR	1,564	0	0	0
Developers Diversified Realty Corp	CONVERTIBLE BOND	251591AX1	8	2	PRN		OTR	2	0	0	0
Gilead Sciences Inc. Senior Note Conv B/E	CONVERTIBLE BOND	375558AP8	4,822,213	1,074	PRN		OTR	1,074	0	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	1,344,904	1,231	PRN		OTR	1,231	0	0	0
Intel Corp	CONVERTIBLE BOND	458140AF7	4,173,746	2,465	PRN		OTR	2,465	0	0	0
Intel Corp	CONVERTIBLE BOND	458140AD2	3,061,611	2,379	PRN		OTR	2,379	0	0	0
Janus Capitol Group Inc.	CONVERTIBLE BOND	47102XAH8	1,092,172	783	PRN		OTR	783	0	0	0
Lam Research Corp 1.25	CONVERTIBLE BOND	512807AL2	2,434,541	1,693	PRN		OTR	1,693	0	0	0
Macquarie Infrastructure	CONVERTIBLE BOND	55608BAA3	1,401,757	1,217	PRN		OTR	1,217	0	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	1,043,914	1,238	PRN		OTR	1,238	0	0	0
Newmont Mining Corp	CONVERTIBLE BOND	651639AJ5	1,155,728	1,153	PRN		OTR	1,153	0	0	0
Novellus Systems	CONVERTIBLE BOND	670008AD3	3,093,635	1,313	PRN		OTR	1,313	0	0	0
NVIDIA Corp	CONVERTIBLE BOND	67066GAC8	1,444,757	868	PRN		OTR	868	0	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,381,253	1,846	PRN		OTR	1,846	0	0	0
Priceline Com Inc	CONVERTIBLE BOND	741503AQ9	3,080,691	2,154	PRN		OTR	2,154	0	0	0
Prospect Capital Corp	CONVERTIBLE BOND	74348TAD4	1,462,676	1,399	PRN		OTR	1,399	0	0	0
Red Hat Inc.	CONVERTIBLE BOND	756577AD4	1,324,798	1,015	PRN		OTR	1,015	0	0	0
RPM International Inc.	CONVERTIBLE BOND	749685AT0	1,916,848	1,690	PRN		OTR	1,690	0	0	0
Sandisk Corp	CONVERTIBLE BOND	80004CAD3	2,784,413	1,760	PRN		OTR	1,760	0	0	0
Seacor Holdings Inc	CONVERTIBLE BOND	811904AM3	6	3	PRN		OTR	3	0	0	0
Trinity Industires Inc	CONVERTIBLE BOND	896522AF6	1,372,335	1,141	PRN		OTR	1,141	0	0	0
Xilinx Inc	CONVERTIBLE BOND	983919AF8	1,335,512	820	PRN		OTR	820	0	0	0
Yahoo Inc Conv Bond	CONVERTIBLE BOND	984332AF3	1,011,277	1,035	PRN		OTR	1,035	0	0	0
Alcoa Inc.	CONVERTIBLE PREFERRED STOCK	013817309	1,111,543	33,450	PRN		OTR	33,450	0	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	1,975,716	72,757	PRN		OTR	72,757	0	0	0
Allergan PLC	CONVERTIBLE PREFERRED STOCK	G0177J116	3,301,087	3,213	PRN		OTR	3,213	0	0	0
American Tower Corp	CONVERTIBLE PREFERRED STOCK	03027X308	2,081,470	20,335	PRN		OTR	20,335	0	0	0
Anadarko Pertroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	1,416,172	41,759	PRN		OTR	41,759	0	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	3,427,813	74,440	PRN		OTR	74,440	0	0	0
Banc of California Inc.	CONVERTIBLE PREFERRED STOCK	05990K700	265,801	3,926	PRN		OTR	3,926	0	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,436,261	15,529	PRN		OTR	15,529	0	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T206	1,109,213	19,401	PRN		OTR	19,401	0	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U885	2,244,183	41,715	PRN		OTR	41,715	0	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U869	2,106,518	43,750	PRN		OTR	43,750	0	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	216,698	6,941	PRN		OTR	6,941	0	0	0
Exelon Corp	CONVERTIBLE PREFERRED STOCK	30161N127	1,228,137	30,413	PRN		OTR	30,413	0	0	0
Frontier Communications Conv Prf	CONVERTIBLE PREFERRED STOCK	35906A207	212,428	2,331	PRN		OTR	2,331	0	0	0
Kinder Morgan Inc/Delaware	CONVERTIBLE PREFERRED STOCK	49456B200	121,243	3,031	PRN		OTR	3,031	0	0	0
Laclede Group Inc	CONVERTIBLE PREFERRED STOCK	505597500	2,100,546	37,552	PRN		OTR	37,552	0	0	0
Nextera Energy Inc	CONVERTIBLE PREFERRED STOCK	65339F861	2,906,405	53,086	PRN		OTR	53,086	0	0	0
NextEra Inc	CONVERTIBLE PREFERRED STOCK	65339F846	1,292,498	24,627	PRN		OTR	24,627	0	0	0
Southwestern Energy Co PFD	CONVERTIBLE PREFERRED STOCK	845467208	3,246	175	PRN		OTR	175	0	0	0
Stanley Black & Decker Inc.	CONVERTIBLE PREFERRED STOCK	854502804	1,382,527	11,630	PRN		OTR	11,630	0	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	860,696	9,450	PRN		OTR	9,450	0	0	0
Teva Pharmaceutical Cv Pfd	CONVERTIBLE PREFERRED STOCK	M8769Q136	1,777,244	1,738	PRN		OTR	1,738	0	0	0
Tyson Foods Inc	CONVERTIBLE PREFERRED STOCK	902494301	2,021,223	33,275	PRN		OTR	33,275	0	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,167,523	2,738	PRN		OTR	2,738	0	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	1,776,379	29,199	PRN		OTR	29,199	0	0	0
Weyerhaeuser Company	CONVERTIBLE PREFERRED STOCK	962166872	1,944,178	38,758	PRN		OTR	38,758	0	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	9,483	787	PRN		OTR	787	0	0	0
Consumer Staples Spdr	EXCHANGE TRADED FUND	81369Y308	36,150	716	PRN		OTR	716	0	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	355,701	7,134	PRN		OTR	7,134	0	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	389,530	3,724	PRN		OTR	3,724	0	0	0
iShares Barclays 3-7 Year Tr	EXCHANGE TRADED FUND	464288661	164,052	1,338	PRN		OTR	1,338	0	0	0
iShares Currency Hedged Germany MSCI ETF	EXCHANGE TRADED FUND	46434V704	5,084,990	206,539	PRN		OTR	206,539	0	0	0
iShares Currency Hedged MSCI Spain ETF	EXCHANGE TRADED FUND	46435G813	4,456,960	216,116	PRN		OTR	216,116	0	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	515,345	10,217	PRN		OTR	10,217	0	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	325,704	4,042	PRN		OTR	4,042	0	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	668,782	5,866	PRN		OTR	5,866	0	0	0
iShares Intermediate Credit	EXCHANGE TRADED FUND	464288638	656,446	6,119	PRN		OTR	6,119	0	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	242,028	2,869	PRN		OTR	2,869	0	0	0
iShares Lehman 20+ Tr	EXCHANGE TRADED FUND	464287432	24,839	206	PRN		OTR	206	0	0	0
iShares Lehman 7-10 Tr	EXCHANGE TRADED FUND	464287440	42,869	406	PRN		OTR	406	0	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	524,391	4,869	PRN		OTR	4,869	0	0	0
iShares MSCI Hong Kong Index Fund	EXCHANGE TRADED FUND	464286871	4,915,273	246,874	PRN		OTR	246,874.6	0	0	0
iShares MSCI India ETF	EXCHANGE TRADED FUND	46429B598	4,930,860	179,304	PRN		OTR	179,304	0	0	0
iShares MSCI Ireland Capped ETF	EXCHANGE TRADED FUND	46429B507	5,142,135	123,728	PRN		OTR	123,728	0	0	0
iShares MSCI United Kingdom	EXCHANGE TRADED FUND	46434V548	4,820,121	295,713	PRN		OTR	295,713	0	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	47,272	431	PRN		OTR	431	0	0	0
Sector Healthcare Select Spider ETF	EXCHANGE TRADED FUND	81369Y209	58,632	814	PRN		OTR	814	0	0	0
SPDR Barclays Convertible Securities ETF	EXCHANGE TRADED FUND	78464A359	270,067	6,240	PRN		OTR	6,240	0	0	0
Spdr S&P 500	EXCHANGE TRADED FUND	78462F103	5,411,729	26,545	PRN		OTR	26,545	0	0	0
Vanguard Intermediate - Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C870	134,964	1,605	PRN		OTR	1,605	0	0	0
Wisdomtree Japan Hedged Equity Fund	EXCHANGE TRADED FUND	97717W851	4,852,802	96,901	PRN		OTR	96,901	0	0	0
Energy Transfer Partners LP	LIMITED PARTNERSHIPS	29273R109	417,307	12,372	PRN		OTR	12,372	0	0	0
Four Corners Property Trust	REITS - usd	35086t109	197,338	8,168	PRN		OTR	8,168	0	0	0
General Growth Properties, Inc.	REITS - usd	370023103	1,622,151	59,616	PRN		OTR	59,616	0	0	0
Omega Healthcare Investors Inc	REITS - usd	681936100	576,120	16,470	PRN		OTR	16,470	0	0	0
Realty Income Corporation	REITS - usd	756109104	1,551,791	30,056	PRN		OTR	30,056	0	0	0
W P Carey Inc	REITS - usd	92936U109	571,061	9,679	PRN		OTR	9,679	0	0	0
Safeway Casa Ley CVR	WARRANTS	786cvr209	84,315	83,481	PRN		OTR	83,481	0	0	0
Safeway PDC, LLC CVR	WARRANTS	786cvr308	4,174	83,481	PRN		OTR	83,481	0	0	0