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
Activision Blizzard Inc.	COMMON STOCKS	00507V109	2,617,401	52,495	SH		OTR	ALL	52,495	0	0
Advance Auto Parts Inc	COMMON STOCKS	00751Y106	1,443,311	9,735	SH		OTR	ALL	9,735	0	0
Aetna Inc	COMMON STOCKS	00817Y108	2,212,355	17,345	SH		OTR	ALL	17,345	0	0
Agilent Technologies	COMMON STOCKS	00846U101	2,023,335	38,270	SH		OTR	ALL	38,270	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	14,134	1,112	SH		OTR	ALL	1,112	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	2,528,124	72,543	SH		OTR	ALL	72,543	0	0
Allergan PLC	CONVERTIBLE PREFERRED STOCK	G0177J116	4,406,745	5,194	SH		OTR	ALL	5,194	0	0
Altria Group Inc	COMMON STOCKS	02209S103	865,539	12,119	SH		OTR	ALL	12,119	0	0
American Tower Corp - Cl B	CONVERTIBLE PREFERRED STOCK	03027X407	2,370,274	21,220	SH		OTR	ALL	21,220	0	0
Ameriprise Financial, Inc.	COMMON STOCKS	03076C106	1,995,127	15,385	SH		OTR	ALL	15,385	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	1,976,736	22,336	SH		OTR	ALL	22,336	0	0
Ametek Inc.	COMMON STOCKS	031100100	1,812,221	33,510	SH		OTR	ALL	33,510	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	1,249,498	22,115	SH		OTR	ALL	22,115	0	0
Amgen Inc	COMMON STOCKS	031162100	433,473	2,642	SH		OTR	ALL	2,642	0	0
Amphenol Corp	COMMON STOCKS	032095101	1,931,554	27,140	SH		OTR	ALL	27,140	0	0
Anadarko Pertroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	2,595,831	59,688	SH		OTR	ALL	59,688	0	0
Analog Devices Inc	COMMON STOCKS	032654105	2,594,783	31,663	SH		OTR	ALL	31,663	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	4,640,694	90,994	SH		OTR	ALL	90,994	0	0
Aon PLC	COMMON STOCKS	G0408V102	2,106,748	17,750	SH		OTR	ALL	17,750	0	0
Applied Materials Inc	COMMON STOCKS	038222105	2,465,677	63,385	SH		OTR	ALL	63,385	0	0
Arconic Inc	CONVERTIBLE PREFERRED STOCK	03965L308	1,368,197	33,330	SH		OTR	ALL	33,330	0	0
Ares Capital Corp	COMMON STOCKS	04010L103	813,645	46,815	SH		OTR	ALL	46,815	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAM5	3,182,052	3,035	SH		OTR	ALL	3,035,000	0	0
AT&T Inc	COMMON STOCKS	00206R102	738,427	17,772	SH		OTR	ALL	17,772	0	0
Automatic Data Processing Inc.	COMMON STOCKS	053015103	2,267,427	22,145	SH		OTR	ALL	22,145	0	0
Baker Hughes Inc	COMMON STOCKS	057224107	1,765,288	29,510	SH		OTR	ALL	29,510	0	0
Bank of New York Mellon Corp	COMMON STOCKS	064058100	2,214,851	46,895	SH		OTR	ALL	46,895	0	0
BB&T Corp	COMMON STOCKS	054937107	2,024,910	45,300	SH		OTR	ALL	45,300	0	0
BCE Inc New	COMMON STOCKS	05534B760	753,121	17,012	SH		OTR	ALL	17,012	0	0
Best Buy Inc	COMMON STOCKS	086516101	1,746,054	35,525	SH		OTR	ALL	35,525	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,668,420	71,760	SH		OTR	ALL	71,760	0	0
Boeing Co	COMMON STOCKS	097023105	424,287	2,399	SH		OTR	ALL	2,399	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	2,951,801	54,281	SH		OTR	ALL	54,281	0	0
Broadcom Corp New	COMMON STOCKS	y09827109	3,169,008	14,473	SH		OTR	ALL	14,473	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,651,757	15,401	SH		OTR	ALL	15,401	0	0
Calatlantic Group Inc	CONVERTIBLE BOND	783764AQ6	1,185,188	934	SH		OTR	ALL	934,000	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	2,151,534	26,383	SH		OTR	ALL	26,383	0	0
Centurylink Inc	COMMON STOCKS	156700106	1,707,859	72,459	SH		OTR	ALL	72,459	0	0
Cintas Corp	COMMON STOCKS	172908105	1,769,662	13,985	SH		OTR	ALL	13,985	0	0
Cisco Sys Inc	COMMON STOCKS	17275R102	806,705	23,867	SH		OTR	ALL	23,867	0	0
Citigroup Inc.	PREFERRED STOCK	172967358	318,084	11,014	SH		OTR	ALL	11,014	0	0
Citizens Financial Group	COMMON STOCKS	174610105	1,767,924	51,170	SH		OTR	ALL	51,170	0	0
Citrix Systems Inc	CONVERTIBLE BOND	177376AD2	1,932,705	1,531	SH		OTR	ALL	1,531,000	0	0
Clorox Co	COMMON STOCKS	189054109	2,087,843	15,485	SH		OTR	ALL	15,485	0	0
CME Group Inc	COMMON STOCKS	12572Q105	2,924,024	24,613	SH		OTR	ALL	24,613	0	0
CMS Energy Corp	COMMON STOCKS	125896100	1,885,791	42,150	SH		OTR	ALL	42,150	0	0
Comerica Inc	COMMON STOCKS	200340107	1,679,867	24,495	SH		OTR	ALL	24,495	0	0
Cooper Cos Inc/The	COMMON STOCKS	216648402	1,923,941	9,625	SH		OTR	ALL	9,625	0	0
Corning Inc	COMMON STOCKS	219350105	2,059,290	76,270	SH		OTR	ALL	76,270	0	0
CVS Corp	COMMON STOCKS	126650100	762,863	9,718	SH		OTR	ALL	9,718	0	0
CyrusOne Inc.	REITS - usd	23283R100	401,312	7,797	SH		OTR	ALL	7,797	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	1,967,522	59,067	SH		OTR	ALL	59,067	0	0
Darden Restaurants	COMMON STOCKS	237194105	1,779,828	21,272	SH		OTR	ALL	21,272	0	0
Dentsply Intl Inc	COMMON STOCKS	24906P109	1,861,649	29,815	SH		OTR	ALL	29,815	0	0
Digital Realty Trust	COMMON STOCKS	253868103	1,966,087	18,480	SH		OTR	ALL	18,480	0	0
Digital Realty Trust Inc	PREFERRED STOCK	253868871	273,735	9,954	SH		OTR	ALL	9,954	0	0
Dominion Resources	CONVERTIBLE PREFERRED STOCK	25746U836	2,845,362	55,923	SH		OTR	ALL	55,923	0	0
Dominion Resources Inc	CONVERTIBLE PREFERRED STOCK	25746U869	3,756,153	74,675	SH		OTR	ALL	74,675	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	1,995,120	20,375	SH		OTR	ALL	20,375	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	1,405,919	13,025	SH		OTR	ALL	13,025	0	0
Dycom Industries	CONVERTIBLE BOND	267475AB7	1,127,968	963	SH		OTR	ALL	963,000	0	0
Enbridge Inc	COMMON STOCKS	29250N105	2,365,926	56,547	SH		OTR	ALL	56,547	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	350,241	9,786	SH		OTR	ALL	9,786	0	0
EQT Midstream Partners LP	COMMON STOCKS	26885B100	418,105	5,437	SH		OTR	ALL	5,437	0	0
Equifax Inc	COMMON STOCKS	294429105	2,044,263	14,950	SH		OTR	ALL	14,950	0	0
Expedia Inc.	COMMON STOCKS	30212P303	1,837,035	14,560	SH		OTR	ALL	14,560	0	0
Fastenal Co.	COMMON STOCKS	311900104	1,830,568	35,545	SH		OTR	ALL	35,545	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	2,053,400	25,790	SH		OTR	ALL	25,790	0	0
Financial Select Sector SPDR Fund	EXCHANGE TRADED FUND	81369Y605	121,118	5,104	SH		OTR	ALL	5,104	0	0
Finisar Corp	CONVERTIBLE BOND	31787AAM3	1,502,900	1,325	SH		OTR	ALL	1,325,000	0	0
Ford Motor Co	COMMON STOCKS	345370860	2,034,742	174,806	SH		OTR	ALL	174,806	0	0
Global Payments Inc	COMMON STOCKS	37940X102	1,917,360	23,765	SH		OTR	ALL	23,765	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	2,667,049	11,610	SH		OTR	ALL	11,610	0	0
Grainger W W Inc	COMMON STOCKS	384802104	1,677,036	7,205	SH		OTR	ALL	7,205	0	0
Great Plains Energy Inc. 7	CONVERTIBLE PREFERRED STOCK	391164878	2,297,011	42,751	SH		OTR	ALL	42,751	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	401,979	7,998	SH		OTR	ALL	7,998	0	0
Harley-Davidson, Inc	COMMON STOCKS	412822108	1,683,715	27,830	SH		OTR	ALL	27,830	0	0
Hess Corp - Conv Pr	CONVERTIBLE PREFERRED STOCK	42809H404	2,087,677	35,087	SH		OTR	ALL	35,087	0	0
Hewlett Packard Co	COMMON STOCKS	40434L105	2,199,687	123,025	SH		OTR	ALL	123,025	0	0
Home Depot Inc	COMMON STOCKS	437076102	4,517,959	30,770	SH		OTR	ALL	30,770	0	0
HUMANA INC	COMMON STOCKS	444859102	2,009,865	9,750	SH		OTR	ALL	9,750	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	2,621,788	2,600	SH		OTR	ALL	2,600,000	0	0
INTEL CORP	COMMON STOCKS	458140100	4,234,907	117,408	SH		OTR	ALL	117,408	0	0
Intercontinental Exchange Group. Inc.	COMMON STOCKS	45866F104	2,063,420	34,465	SH		OTR	ALL	34,465	0	0
International Paper Co	COMMON STOCKS	460146103	1,738,098	34,228	SH		OTR	ALL	34,228	0	0
Intuit	COMMON STOCKS	461202103	1,959,651	16,895	SH		OTR	ALL	16,895	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	1,607,922	52,495	SH		OTR	ALL	52,495	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	311,376	2,959	SH		OTR	ALL	2,959	0	0
iShares Currency Hedged Germany MSCI ETF	EXCHANGE TRADED FUND	46434V704	461,032	16,566	SH		OTR	ALL	16,566	0	0
iShares Currency Hedged MSCI Spain ETF	EXCHANGE TRADED FUND	46435G813	472,039	20,728	SH		OTR	ALL	20,728	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	537,492	10,566	SH		OTR	ALL	10,566	0	0
iShares GNMA Bond Fund	EXCHANGE TRADED FUND	46429B333	88,828	1,788	SH		OTR	ALL	1,788	0	0
iShares High Yield Hedged	EXCHANGE TRADED FUND	46431W606	58,526	643	SH		OTR	ALL	643	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	323,996	3,691	SH		OTR	ALL	3,691	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	572,807	4,858	SH		OTR	ALL	4,858	0	0
ISHARES INC MSCI SINGAPORE INDEX FD	EXCHANGE TRADED FUND	46434G780	441,967	19,376	SH		OTR	ALL	19,376	0	0
iShares Interest Rate Hedged 10plus Year	EXCHANGE TRADED FUND	46431W812	116,898	4,661	SH		OTR	ALL	4,661	0	0
iShares Intermediate Credit	EXCHANGE TRADED FUND	464288638	555,805	5,101	SH		OTR	ALL	5,101	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	111,904	1,324	SH		OTR	ALL	1,324	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	599,344	5,625	SH		OTR	ALL	5,625	0	0
iShares MSCI Hong Kong Index Fund	EXCHANGE TRADED FUND	464286871	460,798	20,710	SH		OTR	ALL	20,710	0	0
iShares MSCI India ETF	EXCHANGE TRADED FUND	46429B598	488,364	15,511	SH		OTR	ALL	15,511	0	0
iShares MSCI Taiwan Index	EXCHANGE TRADED FUND	46434G772	447,741	13,474	SH		OTR	ALL	13,474	0	0
iShares MSCI United Kingdom	EXCHANGE TRADED FUND	46435G334	436,463	13,409	SH		OTR	ALL	13,409	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	22,930	200	SH		OTR	ALL	200	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625H100	7,119,959	81,056	SH		OTR	ALL	81,056	0	0
Janus Capitol Group Inc.	CONVERTIBLE BOND	47102XAH8	1,031,950	792	SH		OTR	ALL	792,000	0	0
JB Hunt	COMMON STOCKS	445658107	1,511,417	16,475	SH		OTR	ALL	16,475	0	0
Johnson & Johnson	COMMON STOCKS	478160104	794,878	6,382	SH		OTR	ALL	6,382	0	0
Keycorp	COMMON STOCKS	493267108	1,780,045	100,115	SH		OTR	ALL	100,115	0	0
Kinder Morgan Inc/Delaware	CONVERTIBLE PREFERRED STOCK	49456B200	248,353	4,979	SH		OTR	ALL	4,979	0	0
Kla-Tencor Corp	COMMON STOCKS	482480100	2,095,343	22,040	SH		OTR	ALL	22,040	0	0
Kohl's Corp	COMMON STOCKS	500255104	1,143,423	28,722	SH		OTR	ALL	28,722	0	0
Lam Research Corp	COMMON STOCKS	512807108	2,181,478	16,995	SH		OTR	ALL	16,995	0	0
Lam Research Corp 1.25	CONVERTIBLE BOND	512807AL2	5,852,345	2,748	SH		OTR	ALL	2,748,000	0	0
Lauder Estee Cos Inc	COMMON STOCKS	518439104	2,118,902	24,990	SH		OTR	ALL	24,990	0	0
Legg Mason Inc	COMMON STOCKS	524901105	1,718,655	47,595	SH		OTR	ALL	47,595	0	0
Leggett & Platt Inc	COMMON STOCKS	524660107	1,655,075	32,891	SH		OTR	ALL	32,891	0	0
Leucadia National Corp	COMMON STOCKS	527288104	1,797,250	69,125	SH		OTR	ALL	69,125	0	0
Lowe's Cos Inc	COMMON STOCKS	548661107	2,737,182	33,295	SH		OTR	ALL	33,295	0	0
LyondellBasell Industries NV	COMMON STOCKS	N53745100	735,903	8,070	SH		OTR	ALL	8,070	0	0
M & T Bk Corp	COMMON STOCKS	55261F104	1,868,365	12,075	SH		OTR	ALL	12,075	0	0
Macquarie Infrastructure	CONVERTIBLE BOND	55608BAA3	3,058,612	2,699	SH		OTR	ALL	2,699,000	0	0
Macquarie Infrastructure Corp	COMMON STOCKS	55608B105	785,333	9,746	SH		OTR	ALL	9,746	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	1,505,898	95,310	SH		OTR	ALL	95,310	0	0
Marsh & Mclennan Cos	COMMON STOCKS	571748102	2,236,429	30,267	SH		OTR	ALL	30,267	0	0
Martin Marietta Materials	COMMON STOCKS	573284106	1,675,287	7,676	SH		OTR	ALL	7,676	0	0
Mckesson Corp	COMMON STOCKS	58155Q103	2,093,876	14,123	SH		OTR	ALL	14,123	0	0
Medtronic Inc	COMMON STOCKS	G5960L103	3,710,996	46,065	SH		OTR	ALL	46,065	0	0
Microchip Technology	COMMON STOCKS	595017104	1,986,895	26,930	SH		OTR	ALL	26,930	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	1,436,590	1,261	SH		OTR	ALL	1,261,000	0	0
Microsoft Corp	COMMON STOCKS	594918104	10,344,037	157,061	SH		OTR	ALL	157,061	0	0
Moody's Corp	COMMON STOCKS	615369105	2,059,855	18,385	SH		OTR	ALL	18,385	0	0
Morgan Stanley	COMMON STOCKS	617446448	2,416,604	56,410	SH		OTR	ALL	56,410	0	0
Morgan Stanley Repstng 1/1000 Non Cuml PFD F Pe	PREFERRED STOCK	61763E207	330,701	11,727	SH		OTR	ALL	11,727	0	0
Newmont Mining Corp	CONVERTIBLE BOND	651639AJ5	1,236,769	1,228	SH		OTR	ALL	1,228,000	0	0
NextEra Energy Inc	COMMON STOCKS	65339F101	432,350	3,368	SH		OTR	ALL	3,368	0	0
Northern Trust Corporation	COMMON STOCKS	665859104	1,753,678	20,255	SH		OTR	ALL	20,255	0	0
Nustar Logistics Lp	PREFERRED STOCK	67059T204	330,558	12,636	SH		OTR	ALL	12,636	0	0
NXP Semiconductor NV	CONVERTIBLE BOND	62952QAB6	3,204,191	2,751	SH		OTR	ALL	2,751,000	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,434,966	1,820	SH		OTR	ALL	1,820,000	0	0
Omega Healthcare Investors Inc	REITS - usd	681936100	666,134	20,192	SH		OTR	ALL	20,192	0	0
Omnicom Group	COMMON STOCKS	681919106	1,870,757	21,700	SH		OTR	ALL	21,700	0	0
Paychex Inc	COMMON STOCKS	704326107	2,583,649	43,865	SH		OTR	ALL	43,865	0	0
People's United Financial	COMMON STOCKS	712704105	1,499,407	82,385	SH		OTR	ALL	82,385	0	0
Perkinelmer Inc	COMMON STOCKS	714046109	1,767,346	30,440	SH		OTR	ALL	30,440	0	0
Pfizer Inc	COMMON STOCKS	717081103	744,957	21,776	SH		OTR	ALL	21,776	0	0
Pioneer Nat Res Co	COMMON STOCKS	723787107	1,993,592	10,705	SH		OTR	ALL	10,705	0	0
PNC FINANCIAL SERVICES GROUP INC	COMMON STOCKS	693475105	2,512,415	20,895	SH		OTR	ALL	20,895	0	0
Priceline Com Inc	CONVERTIBLE BOND	741503AQ9	3,895,482	2,066	SH		OTR	ALL	2,066,000	0	0
Progressive Corp Ohi	COMMON STOCKS	743315103	2,120,030	54,110	SH		OTR	ALL	54,110	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	2,238,893	20,987	SH		OTR	ALL	20,987	0	0
Quest Diagnostics In	COMMON STOCKS	74834L100	1,884,757	19,195	SH		OTR	ALL	19,195	0	0
Rayonier	CONVERTIBLE PREFERRED STOCK	75508B203	351,706	3,440	SH		OTR	ALL	3,440	0	0
Red Hat Inc.	CONVERTIBLE BOND	756577AD4	2,437,931	1,875	SH		OTR	ALL	1,875,000	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	1,633,119	33,445	SH		OTR	ALL	33,445	0	0
Roper Industries Inc	COMMON STOCKS	776696106	2,053,543	9,945	SH		OTR	ALL	9,945	0	0
RPM International Inc.	CONVERTIBLE BOND	749685AT0	2,017,016	1,657	SH		OTR	ALL	1,657,000	0	0
Ryder Sys Inc	COMMON STOCKS	783549108	1,437,886	19,060	SH		OTR	ALL	19,060	0	0
S&P Global Inc.	COMMON STOCKS	78409V104	2,322,596	17,765	SH		OTR	ALL	17,765	0	0
Safeway Casa Ley CVR	WARRANTS	786cvr209	84,725	83,481	SH		OTR	ALL	83,481	0	0
Safeway PDC, LLC CVR	WARRANTS	786cvr308	4,074	83,481	SH		OTR	ALL	83,481	0	0
Schlumberger Ltd	COMMON STOCKS	806857108	3,092,370	39,595	SH		OTR	ALL	39,595	0	0
Schwab Charles Corp	COMMON STOCKS	808513105	2,331,475	57,130	SH		OTR	ALL	57,130	0	0
Sealed Air Corp New	COMMON STOCKS	81211K100	1,495,666	34,320	SH		OTR	ALL	34,320	0	0
Sempra Energy	COMMON STOCKS	816851109	2,141,490	19,380	SH		OTR	ALL	19,380	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	2,132,866	6,876	SH		OTR	ALL	6,876	0	0
Signet Jewlers Ltd.	COMMON STOCKS	G81276100	1,167,200	16,850	SH		OTR	ALL	16,850	0	0
Six Flags Entertainment	COMMON STOCKS	83001A102	812,812	13,663	SH		OTR	ALL	13,663	0	0
SKYWORKS SOLUTIONS INC	COMMON STOCKS	83088M102	2,185,934	22,310	SH		OTR	ALL	22,310	0	0
Spdr S&P 500	EXCHANGE TRADED FUND	78462F103	507,784	2,154	SH		OTR	ALL	2,154	0	0
Spectra Energy Partners LP	COMMON STOCKS	84756N109	385,954	8,840	SH		OTR	ALL	8,840	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAA0	2,189,673	2,119	SH		OTR	ALL	2,119,000	0	0
Staples Inc	COMMON STOCKS	855030102	1,442,227	164,450	SH		OTR	ALL	164,450	0	0
Starbucks Corp	COMMON STOCKS	855244109	2,788,414	47,755	SH		OTR	ALL	47,755	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	2,313,712	32,337	SH		OTR	ALL	32,337	0	0
Symantec Corp	COMMON STOCKS	871503108	2,215,863	72,225	SH		OTR	ALL	72,225	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	1,581,421	23,205	SH		OTR	ALL	23,205	0	0
TCP Capital Corp	CONVERTIBLE BOND	87238QAB9	1,132,613	1,055	SH		OTR	ALL	1,055,000	0	0
TE Connectivity Ltd	COMMON STOCKS	H84989104	2,013,223	27,005	SH		OTR	ALL	27,005	0	0
Tesoro Corporation	COMMON STOCKS	881609101	1,517,767	18,724	SH		OTR	ALL	18,724	0	0
Teva Pharmaceutical Cv Pfd	CONVERTIBLE PREFERRED STOCK	M8769Q136	2,893,078	5,014	SH		OTR	ALL	5,014	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	3,004,082	37,290	SH		OTR	ALL	37,290	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	2,609,664	16,990	SH		OTR	ALL	16,990	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAB8	2,471,884	2,347	SH		OTR	ALL	2,347,000	0	0
TRACTOR SUPPLY COMPANY	COMMON STOCKS	892356106	1,523,892	22,095	SH		OTR	ALL	22,095	0	0
Tyson Foods Inc	CONVERTIBLE PREFERRED STOCK	902494301	2,036,130	30,390	SH		OTR	ALL	30,390	0	0
Union Pac Corp	COMMON STOCKS	907818108	2,900,619	27,385	SH		OTR	ALL	27,385	0	0
United Parcel Services	COMMON STOCKS	911312106	794,235	7,402	SH		OTR	ALL	7,402	0	0
Unitedhealth Group Inc	COMMON STOCKS	91324P102	3,898,682	23,771	SH		OTR	ALL	23,771	0	0
Universal Health Services - B	COMMON STOCKS	913903100	1,899,107	15,260	SH		OTR	ALL	15,260	0	0
V F Corp	COMMON STOCKS	918204108	766,886	13,951	SH		OTR	ALL	13,951	0	0
Valero Energy Corp	COMMON STOCKS	91913Y100	2,713,581	40,935	SH		OTR	ALL	40,935	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	112,194	1,407	SH		OTR	ALL	1,407	0	0
VEREIT	CONVERTIBLE BOND	02917TAA2	1,087,468	1,074	SH		OTR	ALL	1,074,000	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	1,702,744	14,133	SH		OTR	ALL	14,133	0	0
W P Carey Inc	REITS - usd	92936U109	738,738	11,873	SH		OTR	ALL	11,873	0	0
Walt Disney Co	COMMON STOCKS	254687106	4,169,464	36,771	SH		OTR	ALL	36,771	0	0
Weatherford Bermuda	CONVERTIBLE BOND	947075AH0	1,382,388	1,049	SH		OTR	ALL	1,049,000	0	0
Wells Fargo & Co	PREFERRED STOCK	949746556	314,678	11,830	SH		OTR	ALL	11,830	0	0
WELLS FARGO & CO NEW COM	COMMON STOCKS	949746101	424,296	7,623	SH		OTR	ALL	7,623	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,251,188	2,624	SH		OTR	ALL	2,624	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	2,253,889	35,708	SH		OTR	ALL	35,708	0	0
Western Un Co	COMMON STOCKS	959802109	1,562,575	76,785	SH		OTR	ALL	76,785	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	1,977,636	58,200	SH		OTR	ALL	58,200	0	0
Whole Foods Market Inc	COMMON STOCKS	966837106	1,580,064	53,165	SH		OTR	ALL	53,165	0	0
Williams Cos Inc Del	COMMON STOCKS	969457100	1,797,415	60,744	SH		OTR	ALL	60,744	0	0
Willis Tower Watson PLC	COMMON STOCKS	G96629103	1,902,748	14,537	SH		OTR	ALL	14,537	0	0
Wisconsin Energy Corp	COMMON STOCKS	92939U106	817,050	13,476	SH		OTR	ALL	13,476	0	0
Xilinx Inc	COMMON STOCKS	983919101	1,808,484	31,240	SH		OTR	ALL	31,240	0	0
Xilinx Inc	CONVERTIBLE BOND	983919AF8	3,666,526	1,814	SH		OTR	ALL	1,814,000	0	0
Xl Group Plc	COMMON STOCKS	G98294104	1,844,920	46,285	SH		OTR	ALL	46,285	0	0
Zions Bancorp	COMMON STOCKS	989701107	1,628,130	38,765	SH		OTR	ALL	38,765	0	0