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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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
ADT Corporation	COMMON STOCKS	00101J106	1,674,867	40,593	SH		OTR	ALL	40,593	0	0
Alcoa Inc.	CONVERTIBLE PREFERRED STOCK	013817309	1,083,001	32,930	SH		OTR	ALL	32,930	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	12,143	1,112	SH		OTR	ALL	1,112	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	2,046,279	70,360	SH		OTR	ALL	70,360	0	0
Allergan PLC	CONVERTIBLE PREFERRED STOCK	G0177J116	2,828,886	3,075	SH		OTR	ALL	3,075	0	0
Altria Group Inc	COMMON STOCKS	02209S103	753,611	12,027	SH		OTR	ALL	12,027	0	0
American Tower Corp	CONVERTIBLE PREFERRED STOCK	03027X308	2,058,070	19,540	SH		OTR	ALL	19,540	0	0
American Tower REIT	COMMON STOCKS	03027X100	2,349,186	22,948	SH		OTR	ALL	22,948	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	1,377,876	15,920	SH		OTR	ALL	15,920	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	1,218,174	21,940	SH		OTR	ALL	21,940	0	0
Amgen Inc	COMMON STOCKS	031162100	422,802	2,820	SH		OTR	ALL	2,820	0	0
Amphenol Corp	COMMON STOCKS	032095101	1,769,523	30,604	SH		OTR	ALL	30,604	0	0
Anadarko Pertroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	1,393,705	40,834	SH		OTR	ALL	40,834	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	3,927,133	84,210	SH		OTR	ALL	84,210	0	0
Aon PLC	COMMON STOCKS	G0408V102	2,025,598	19,393	SH		OTR	ALL	19,393	0	0
Apartment Investment & Management Company	COMMON STOCKS	03748R101	1,641,978	39,263	SH		OTR	ALL	39,263	0	0
Ares Capital Corp	COMMON STOCKS	04010L103	212,019	14,287	SH		OTR	ALL	14,287	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAG8	2,754,918	2,695	SH		OTR	ALL	2,695	0	0
Autozone Inc	COMMON STOCKS	053332102	2,113,618	2,653	SH		OTR	ALL	2,653	0	0
Banc of California Inc.	CONVERTIBLE PREFERRED STOCK	05990K700	321,451	3,987	SH		OTR	ALL	3,987	0	0
Bank of America Corp	COMMON STOCKS	060505104	1,348,146	99,715	SH		OTR	ALL	99,715	0	0
BB&T Corp	COMMON STOCKS	054937107	1,616,456	48,586	SH		OTR	ALL	48,586	0	0
BCE Inc New	COMMON STOCKS	05534B760	752,639	16,527	SH		OTR	ALL	16,527	0	0
Bed Bath & Beyond In	COMMON STOCKS	075896100	1,131,841	22,801	SH		OTR	ALL	22,801	0	0
Berkshire Hathaway Inc Cl B	COMMON STOCKS	084670702	7,555,961	53,256	SH		OTR	ALL	53,256	0	0
Best Buy Inc	COMMON STOCKS	086516101	1,446,532	44,591	SH		OTR	ALL	44,591	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,329,454	50,320	SH		OTR	ALL	50,320	0	0
Boeing Co	COMMON STOCKS	097023105	401,638	3,164	SH		OTR	ALL	3,164	0	0
Boston Scientific Co	COMMON STOCKS	101137107	1,984,755	105,516	SH		OTR	ALL	105,516	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	3,386,534	53,014	SH		OTR	ALL	53,014	0	0
Broadcom Corp New	COMMON STOCKS	y09827109	2,801,857	18,135	SH		OTR	ALL	18,135	0	0
Brown-Forman Corporation	COMMON STOCKS	115637209	1,811,060	18,392	SH		OTR	ALL	18,392	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,286,056	15,121	SH		OTR	ALL	15,121	0	0
Calif Resources	COMMON STOCKS	13057Q107	0	0	SH		OTR	ALL	0	0	0
Cameron International Corp	COMMON STOCKS	13342B105	1,865,465	27,822	SH		OTR	ALL	27,822	0	0
Campbell Soup Co	COMMON STOCKS	134429109	2,158,398	33,836	SH		OTR	ALL	33,836	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	1,875,261	22,883	SH		OTR	ALL	22,883	0	0
Carmax Inc	COMMON STOCKS	143130102	1,200,594	23,495	SH		OTR	ALL	23,495	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T206	1,199,457	18,998	SH		OTR	ALL	18,998	0	0
Cisco Sys Inc	COMMON STOCKS	17275R102	695,778	24,439	SH		OTR	ALL	24,439	0	0
Citigroup Inc.	PREFERRED STOCK	172967358	216,262	7,913	SH		OTR	ALL	7,913	0	0
Citrix Systems Inc	CONVERTIBLE BOND	177376AD2	1,680,817	1,498	SH		OTR	ALL	1,498	0	0
Clorox Co	COMMON STOCKS	189054109	1,953,551	15,497	SH		OTR	ALL	15,497	0	0
CME Group Inc	COMMON STOCKS	12572Q105	2,040,486	21,244	SH		OTR	ALL	21,244	0	0
CMS Energy Corp	COMMON STOCKS	125896100	1,975,963	46,559	SH		OTR	ALL	46,559	0	0
Coca-Cola Company	COMMON STOCKS	191216100	5,780,936	124,616	SH		OTR	ALL	124,616	0	0
Constellation Brands	COMMON STOCKS	21036P108	2,346,125	15,528	SH		OTR	ALL	15,528	0	0
Consumer Staples Spdr	EXCHANGE TRADED FUND	81369Y308	37,990	716	SH		OTR	ALL	716	0	0
Corning Inc	COMMON STOCKS	219350105	1,919,602	91,891	SH		OTR	ALL	91,891	0	0
Crown Castle Intl Corp	COMMON STOCKS	22822V101	1,967,442	22,745	SH		OTR	ALL	22,745	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	1,870,451	61,874	SH		OTR	ALL	61,874	0	0
Darden Restaurants	COMMON STOCKS	237194105	2,308,300	34,816	SH		OTR	ALL	34,816	0	0
Davita Health Care Partners Inc	COMMON STOCKS	23918K108	1,525,863	20,794	SH		OTR	ALL	20,794	0	0
Delta Air Lines, Inc.	COMMON STOCKS	247361702	2,302,028	47,289	SH		OTR	ALL	47,289	0	0
Dollar General Corp.	COMMON STOCKS	256677105	2,088,468	24,398	SH		OTR	ALL	24,398	0	0
Dollar Tree, Inc.	COMMON STOCKS	256746108	400,508	4,857	SH		OTR	ALL	4,857	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U869	3,396,528	67,141	SH		OTR	ALL	67,141	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	1,951,949	21,829	SH		OTR	ALL	21,829	0	0
DTE Energy Co	COMMON STOCKS	233331107	1,899,055	20,947	SH		OTR	ALL	20,947	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	1,180,987	11,457	SH		OTR	ALL	11,457	0	0
Ebay Inc	COMMON STOCKS	278642103	1,080,500	45,285	SH		OTR	ALL	45,285	0	0
Ecolab Inc	COMMON STOCKS	278865100	1,938,886	17,386	SH		OTR	ALL	17,386	0	0
Edison International	COMMON STOCKS	281020107	504,524	7,018	SH		OTR	ALL	7,018	0	0
Energy Transfer Partners LP	LIMITED PARTNERSHIPS	29273R109	439,662	13,595	SH		OTR	ALL	13,595	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	248,675	7,105	SH		OTR	ALL	7,105	0	0
Equifax Inc	COMMON STOCKS	294429105	1,827,154	15,987	SH		OTR	ALL	15,987	0	0
Exelon Corp	CONVERTIBLE PREFERRED STOCK	30161N127	1,492,224	30,443	SH		OTR	ALL	30,443	0	0
Fastenal Co.	COMMON STOCKS	311900104	1,856,855	37,895	SH		OTR	ALL	37,895	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	1,702,849	26,897	SH		OTR	ALL	26,897	0	0
Ford Motor Co	COMMON STOCKS	345370860	640,386	47,436	SH		OTR	ALL	47,436	0	0
Four Corners Property Trust	REITS - usd	35086t109	219,905	12,251	SH		OTR	ALL	12,251	0	0
Frontier Communications Conv Prf	CONVERTIBLE PREFERRED STOCK	35906A207	245,084	2,351	SH		OTR	ALL	2,351	0	0
General Growth Properties, Inc.	REITS - usd	370023103	1,772,383	59,616	SH		OTR	ALL	59,616	0	0
Gilead Sciences Inc. Senior Note Conv B/E	CONVERTIBLE BOND	375558AP8	4,209,800	1,023	SH		OTR	ALL	1,023	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	1,275,933	8,128	SH		OTR	ALL	8,128	0	0
Grainger W W Inc	COMMON STOCKS	384802104	1,544,606	6,617	SH		OTR	ALL	6,617	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	341,858	6,855	SH		OTR	ALL	6,855	0	0
Hershey Foods Corp	COMMON STOCKS	427866108	1,717,110	18,646	SH		OTR	ALL	18,646	0	0
Hess Corp - Conv Pr	CONVERTIBLE PREFERRED STOCK	42809H404	1,335,253	19,925	SH		OTR	ALL	19,925	0	0
Home Depot Inc	COMMON STOCKS	437076102	5,227,387	39,177	SH		OTR	ALL	39,177	0	0
Huntington Bancshare	COMMON STOCKS	446150104	1,329,465	139,357	SH		OTR	ALL	139,357	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	2,709,592	2,604	SH		OTR	ALL	2,604	0	0
Intel Corp	CONVERTIBLE BOND	458140AF7	3,785,471	2,360	SH		OTR	ALL	2,360	0	0
Intel Corp	CONVERTIBLE BOND	458140AD2	2,938,632	2,277	SH		OTR	ALL	2,277	0	0
Intuitive Surgical Inc	COMMON STOCKS	46120E602	2,109,084	3,509	SH		OTR	ALL	3,509	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	1,262,370	41,026	SH		OTR	ALL	41,026	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	377,087	3,577	SH		OTR	ALL	3,577	0	0
iShares Barclays 3-7 Year Tr	EXCHANGE TRADED FUND	464288661	168,521	1,338	SH		OTR	ALL	1,338	0	0
iShares Currency Hedged Germany MSCI ETF	EXCHANGE TRADED FUND	46434V704	4,729,038	205,521	SH		OTR	ALL	205,521	0	0
iShares Currency Hedged MSCI Spain ETF	EXCHANGE TRADED FUND	46435G813	4,067,030	215,073	SH		OTR	ALL	215,073	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	494,620	9,810	SH		OTR	ALL	9,810	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	331,007	4,052	SH		OTR	ALL	4,052	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	670,857	5,646	SH		OTR	ALL	5,646	0	0
iShares Intermediate Credit	EXCHANGE TRADED FUND	464288638	645,306	5,883	SH		OTR	ALL	5,883	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	243,951	2,869	SH		OTR	ALL	2,869	0	0
iShares Lehman 20+ Tr	EXCHANGE TRADED FUND	464287432	26,905	206	SH		OTR	ALL	206	0	0
iShares Lehman 7-10 Tr	EXCHANGE TRADED FUND	464287440	44,798	406	SH		OTR	ALL	406	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	511,819	4,675	SH		OTR	ALL	4,675	0	0
iShares MSCI Hong Kong Index Fund	EXCHANGE TRADED FUND	464286871	4,856,437	245,646	SH		OTR	ALL	245,646	0	0
iShares MSCI India ETF	EXCHANGE TRADED FUND	46429B598	4,838,723	178,419	SH		OTR	ALL	178,419	0	0
iShares MSCI Ireland Capped ETF	EXCHANGE TRADED FUND	46429B507	4,950,348	123,143	SH		OTR	ALL	123,143	0	0
iShares MSCI United Kingdom	EXCHANGE TRADED FUND	46434V548	4,613,934	294,256	SH		OTR	ALL	294,256	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	49,409	431	SH		OTR	ALL	431	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625H100	2,110,956	35,646	SH		OTR	ALL	35,646	0	0
Janus Capitol Group Inc.	CONVERTIBLE BOND	47102XAH8	1,091,440	766	SH		OTR	ALL	766	0	0
Johnson & Johnson	COMMON STOCKS	478160104	697,457	6,446	SH		OTR	ALL	6,446	0	0
JPMorgan Chase & Co	PREFERRED STOCK	48127A161	234,397	8,462	SH		OTR	ALL	8,462	0	0
Kinder Morgan Inc/Delaware	CONVERTIBLE PREFERRED STOCK	49456B200	163,521	3,636	SH		OTR	ALL	3,636	0	0
L Brands Inc	COMMON STOCKS	501797104	1,767,527	20,129	SH		OTR	ALL	20,129	0	0
Laclede Group Inc	CONVERTIBLE PREFERRED STOCK	505597500	2,187,506	36,247	SH		OTR	ALL	36,247	0	0
Lam Research Corp 1.25	CONVERTIBLE BOND	512807AL2	2,410,048	1,626	SH		OTR	ALL	1,626	0	0
Level 3 Communication	COMMON STOCKS	52729N308	1,567,425	29,658	SH		OTR	ALL	29,658	0	0
LyondellBasell Industries NV	COMMON STOCKS	N53745100	635,089	7,421	SH		OTR	ALL	7,421	0	0
Macquarie Infrastructure	CONVERTIBLE BOND	55608BAA3	1,328,475	1,191	SH		OTR	ALL	1,191	0	0
Macquarie Infrastructure Corp	COMMON STOCKS	55608B105	651,605	9,662	SH		OTR	ALL	9,662	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	637,898	57,262	SH		OTR	ALL	57,262	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	1,371,495	36,888	SH		OTR	ALL	36,888	0	0
Martin Marietta Materials	COMMON STOCKS	573284106	1,657,149	10,389	SH		OTR	ALL	10,389	0	0
McDonalds Corp	COMMON STOCKS	580135101	4,136,631	32,914	SH		OTR	ALL	32,914	0	0
Mckesson Corp	COMMON STOCKS	58155Q103	1,675,184	10,653	SH		OTR	ALL	10,653	0	0
Merck & Co Inc	COMMON STOCKS	58933Y105	3,928,832	74,255	SH		OTR	ALL	74,255	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	838,557	1,186	SH		OTR	ALL	1,186	0	0
Microsoft Corp	COMMON STOCKS	594918104	708,600	12,830	SH		OTR	ALL	12,830	0	0
Mohawk Industries Inc	COMMON STOCKS	608190104	1,718,863	9,004	SH		OTR	ALL	9,004	0	0
Moody's Corp	COMMON STOCKS	615369105	1,579,045	16,353	SH		OTR	ALL	16,353	0	0
Morgan Stanley	COMMON STOCKS	617446448	1,575,880	63,010	SH		OTR	ALL	63,010	0	0
Morgan Stanley Repstng 1/1000 Non Cuml PFD F Pe	PREFERRED STOCK	61763E207	228,383	8,415	SH		OTR	ALL	8,415	0	0
Newell Brands Inc	COMMON STOCKS	651229106	1,767,481	39,907	SH		OTR	ALL	39,907	0	0
Newmont Mining Corp	CONVERTIBLE BOND	651639AJ5	1,177,347	1,125	SH		OTR	ALL	1,125	0	0
NextEra Energy Inc	COMMON STOCKS	65339F101	504,601	4,264	SH		OTR	ALL	4,264	0	0
NextEra Inc	CONVERTIBLE PREFERRED STOCK	65339F846	3,598,151	59,397	SH		OTR	ALL	59,397	0	0
Novellus Systems	CONVERTIBLE BOND	670008AD3	3,104,350	1,264	SH		OTR	ALL	1,264	0	0
Nucor Corp	COMMON STOCKS	670346105	1,599,165	33,809	SH		OTR	ALL	33,809	0	0
Nustar Logistics Lp	PREFERRED STOCK	67059T204	205,660	9,100	SH		OTR	ALL	9,100	0	0
NVIDIA Corp	CONVERTIBLE BOND	67066GAC8	1,496,134	834	SH		OTR	ALL	834	0	0
NXP Semiconductor NV	CONVERTIBLE BOND	62952QAB6	1,956,570	1,761	SH		OTR	ALL	1,761	0	0
Occidental Pete Corp	COMMON STOCKS	674599105	1,512,234	22,099	SH		OTR	ALL	22,099	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,215,245	1,782	SH		OTR	ALL	1,782	0	0
Omega Healthcare Investors Inc	REITS - usd	681936100	660,639	18,715	SH		OTR	ALL	18,715	0	0
Oracle Systems Corp	COMMON STOCKS	68389X105	3,795,588	92,779	SH		OTR	ALL	92,779	0	0
O'Reilly Automotive Inc.	COMMON STOCKS	67103H107	2,226,224	8,135	SH		OTR	ALL	8,135	0	0
Paccar Inc	COMMON STOCKS	693718108	1,500,201	27,431	SH		OTR	ALL	27,431	0	0
Paychex Inc	COMMON STOCKS	704326107	2,556,239	47,329	SH		OTR	ALL	47,329	0	0
PayPal Inc	COMMON STOCKS	70450Y103	1,748,001	45,285	SH		OTR	ALL	45,285	0	0
People's United Financial	COMMON STOCKS	712704105	1,527,973	95,918	SH		OTR	ALL	95,918	0	0
Pepsico Inc	COMMON STOCKS	713448108	4,388,910	42,827	SH		OTR	ALL	42,827	0	0
Pfizer Inc	COMMON STOCKS	717081103	596,534	20,126	SH		OTR	ALL	20,126	0	0
PG&E Corporation	COMMON STOCKS	69331C108	2,116,655	35,443	SH		OTR	ALL	35,443	0	0
Pitney Bowes Inc	COMMON STOCKS	724479100	1,388,877	64,479	SH		OTR	ALL	64,479	0	0
Priceline Com Inc	CONVERTIBLE BOND	741503AQ9	2,950,803	2,060	SH		OTR	ALL	2,060	0	0
Priceline.com	COMMON STOCKS	741503403	2,580,497	2,002	SH		OTR	ALL	2,002	0	0
Proctor & Gamble Co	COMMON STOCKS	742718109	696,342	8,460	SH		OTR	ALL	8,460	0	0
Progressive Corp Ohi	COMMON STOCKS	743315103	2,166,064	61,641	SH		OTR	ALL	61,641	0	0
Prologis	COMMON STOCKS	74340W103	1,996,538	45,191	SH		OTR	ALL	45,191	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	44,126	611	SH		OTR	ALL	611	0	0
Quanta Services	COMMON STOCKS	74762E102	1,185,708	52,558	SH		OTR	ALL	52,558	0	0
Ralph Lauren Corp Cl A	COMMON STOCKS	751212101	1,133,942	11,780	SH		OTR	ALL	11,780	0	0
Realty Income Corporation	REITS - usd	756109104	1,878,800	30,056	SH		OTR	ALL	30,056	0	0
Red Hat Inc	COMMON STOCKS	756577102	1,619,772	21,739	SH		OTR	ALL	21,739	0	0
Red Hat Inc.	CONVERTIBLE BOND	756577AD4	2,291,059	1,844	SH		OTR	ALL	1,844	0	0
Regeneron Pharmaceuticals	COMMON STOCKS	75886F107	1,568,995	4,353	SH		OTR	ALL	4,353	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	1,278,062	27,438	SH		OTR	ALL	27,438	0	0
RPM International Inc.	CONVERTIBLE BOND	749685AT0	1,871,981	1,626	SH		OTR	ALL	1,626	0	0
Safeway Casa Ley CVR	WARRANTS	786cvr209	84,724	83,481	SH		OTR	ALL	83,481	0	0
Safeway PDC, LLC CVR	WARRANTS	786cvr308	4,073	83,481	SH		OTR	ALL	83,481	0	0
Scana Corp	COMMON STOCKS	80589M102	2,012,884	28,694	SH		OTR	ALL	28,694	0	0
Schlumberger Ltd	COMMON STOCKS	806857108	2,821,896	38,263	SH		OTR	ALL	38,263	0	0
Seagate Technology Plc	COMMON STOCKS	G7945M107	1,018,410	29,562	SH		OTR	ALL	29,562	0	0
Seaspan Corp	PREFERRED STOCK	Y75638133	217,288	9,215	SH		OTR	ALL	9,215	0	0
Sector Healthcare Select Spider ETF	EXCHANGE TRADED FUND	81369Y209	55,172	814	SH		OTR	ALL	814	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	1,878,252	6,598	SH		OTR	ALL	6,598	0	0
Six Flags Entertainment	COMMON STOCKS	83001A102	650,120	11,716	SH		OTR	ALL	11,716	0	0
Snap On Tools Corp	COMMON STOCKS	833034101	1,574,452	10,029	SH		OTR	ALL	10,029	0	0
Southwest Airlines co	COMMON STOCKS	844741108	2,135,974	47,678	SH		OTR	ALL	47,678	0	0
SPDR Barclays Convertible Securities ETF	EXCHANGE TRADED FUND	78464A359	145,368	3,365	SH		OTR	ALL	3,365	0	0
Spdr S&P 500	EXCHANGE TRADED FUND	78462F103	5,428,810	26,415	SH		OTR	ALL	26,415	0	0
St Jude Med Inc	COMMON STOCKS	790849103	1,330,945	24,199	SH		OTR	ALL	24,199	0	0
Stanley Black & Decker Inc	COMMON STOCKS	854502101	1,722,498	16,372	SH		OTR	ALL	16,372	0	0
Stanley Black & Decker Inc.	CONVERTIBLE PREFERRED STOCK	854502804	1,272,006	11,181	SH		OTR	ALL	11,181	0	0
Starbucks Corp	COMMON STOCKS	855244109	3,268,276	54,745	SH		OTR	ALL	54,745	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	893,038	9,555	SH		OTR	ALL	9,555	0	0
Suntrust Bks Inc	COMMON STOCKS	867914103	1,513,700	41,954	SH		OTR	ALL	41,954	0	0
Target Corp	COMMON STOCKS	87612E106	726,779	8,833	SH		OTR	ALL	8,833	0	0
Teradata Corp	COMMON STOCKS	88076W103	874,579	33,330	SH		OTR	ALL	33,330	0	0
Tesoro Corporation	COMMON STOCKS	881609101	1,513,431	17,596	SH		OTR	ALL	17,596	0	0
Teva Pharmaceutical Cv Pfd	CONVERTIBLE PREFERRED STOCK	M8769Q136	2,249,198	2,560	SH		OTR	ALL	2,560	0	0
Textron Inc	COMMON STOCKS	883203101	1,294,731	35,511	SH		OTR	ALL	35,511	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	2,644,051	18,674	SH		OTR	ALL	18,674	0	0
Time Warner Inc	COMMON STOCKS	887317303	2,272,628	31,325	SH		OTR	ALL	31,325	0	0
Total Sys Svcs Inc	COMMON STOCKS	891906109	1,751,134	36,804	SH		OTR	ALL	36,804	0	0
Travelers Companies	COMMON STOCKS	89417E109	2,306,189	19,760	SH		OTR	ALL	19,760	0	0
Trinity Industires Inc	CONVERTIBLE BOND	896522AF6	1,190,110	1,091	SH		OTR	ALL	1,091	0	0
Tyson Foods Inc	CONVERTIBLE PREFERRED STOCK	902494301	2,374,091	31,870	SH		OTR	ALL	31,870	0	0
Union Pac Corp	COMMON STOCKS	907818108	2,425,081	30,485	SH		OTR	ALL	30,485	0	0
United Parcel Services	COMMON STOCKS	911312106	713,399	6,764	SH		OTR	ALL	6,764	0	0
United Technologies	COMMON STOCKS	913017109	2,851,348	28,485	SH		OTR	ALL	28,485	0	0
Universal Health Services - B	COMMON STOCKS	913903100	1,652,290	13,248	SH		OTR	ALL	13,248	0	0
Valero Energy Corp	COMMON STOCKS	91913Y100	2,147,535	33,482	SH		OTR	ALL	33,482	0	0
Vanguard Intermediate - Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C870	139,522	1,605	SH		OTR	ALL	1,605	0	0
Varian Medical Systems Inc	COMMON STOCKS	92220P105	1,426,676	17,829	SH		OTR	ALL	17,829	0	0
Visa. Inc - Class A Shares	COMMON STOCKS	92826C839	5,177,084	67,692	SH		OTR	ALL	67,692	0	0
Vodafone Group Plc-Sp Adr	AMERICAN DEPOSITARY RECEIPT	92857W308	656,159	20,473	SH		OTR	ALL	20,473	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	1,928,447	18,267	SH		OTR	ALL	18,267	0	0
W P Carey Inc	REITS - usd	92936U109	680,469	10,933	SH		OTR	ALL	10,933	0	0
Wal-Mart Stores Inc	COMMON STOCKS	931142103	3,366,831	49,158	SH		OTR	ALL	49,158	0	0
Wells Fargo & Co	PREFERRED STOCK	949746556	225,298	8,547	SH		OTR	ALL	8,547	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,132,079	2,623	SH		OTR	ALL	2,623	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	1,739,317	28,030	SH		OTR	ALL	28,030	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	1,673,880	54,031	SH		OTR	ALL	54,031	0	0
Weyerhaeuser Company	CONVERTIBLE PREFERRED STOCK	962166872	1,930,301	37,727	SH		OTR	ALL	37,727	0	0
Whole Foods Market Inc	COMMON STOCKS	966837106	1,127,301	36,236	SH		OTR	ALL	36,236	0	0
Wisconsin Energy Corp	COMMON STOCKS	92939U106	810,104	13,486	SH		OTR	ALL	13,486	0	0
Wisdomtree Japan Hedged Equity Fund	EXCHANGE TRADED FUND	97717W851	4,214,736	96,425	SH		OTR	ALL	96,425	0	0
Xilinx Inc	CONVERTIBLE BOND	983919AF8	1,311,766	789	SH		OTR	ALL	789	0	0
Zions Bancorp	COMMON STOCKS	989701107	1,238,196	51,144	SH		OTR	ALL	51,144	0	0