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	3,140,669	48,685	SH		OTR	ALL	48,685	0	0
Advance Auto Parts Inc	COMMON STOCKS	00751Y106	903,216	9,105	SH		OTR	ALL	9,105	0	0
Aetna Inc	COMMON STOCKS	00817Y108	2,577,552	16,210	SH		OTR	ALL	16,210	0	0
Agilent Technologies	COMMON STOCKS	00846U101	2,291,298	35,690	SH		OTR	ALL	35,690	0	0
Altria Group Inc	COMMON STOCKS	02209s103	743,789	11,728	SH		OTR	ALL	11,728	0	0
Ameriprise Financial, Inc.	COMMON STOCKS	03076C106	2,135,573	14,380	SH		OTR	ALL	14,380	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	1,725,834	20,856	SH		OTR	ALL	20,856	0	0
Ametek Inc.	COMMON STOCKS	031100100	2,063,750	31,250	SH		OTR	ALL	31,250	0	0
Amgen Inc	COMMON STOCKS	031162100	482,719	2,589	SH		OTR	ALL	2,589	0	0
Amphenol Corp	COMMON STOCKS	032095101	2,143,084	25,320	SH		OTR	ALL	25,320	0	0
Analog Devices Inc	COMMON STOCKS	032654105	2,558,214	29,688	SH		OTR	ALL	29,688	0	0
Andeavor	COMMON STOCKS	03349M105	1,807,084	17,519	SH		OTR	ALL	17,519	0	0
Aon PLC	COMMON STOCKS	G0408V102	2,413,572	16,520	SH		OTR	ALL	16,520	0	0
Applied Materials Inc	COMMON STOCKS	038222105	3,081,644	59,160	SH		OTR	ALL	59,160	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	733,878	44,776	SH		OTR	ALL	44,776	0	0
AT&T Inc	COMMON STOCKS	00206r102	694,719	17,736	SH		OTR	ALL	17,736	0	0
Automatic Data Processing Inc.	COMMON STOCKS	053015103	2,250,352	20,585	SH		OTR	ALL	20,585	0	0
Baker Hughes GE Co.	COMMON STOCKS	05722G100	1,010,712	27,600	SH		OTR	ALL	27,600	0	0
Bank of New York Mellon Corp	COMMON STOCKS	064058100	2,322,806	43,810	SH		OTR	ALL	43,810	0	0
BB&T Corp	COMMON STOCKS	054937107	1,978,990	42,160	SH		OTR	ALL	42,160	0	0
BCE Inc	COMMON STOCKS	05534b760	762,486	16,282	SH		OTR	ALL	16,282	0	0
Best Buy Inc	COMMON STOCKS	086516101	1,872,844	32,880	SH		OTR	ALL	32,880	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,769,658	66,830	SH		OTR	ALL	66,830	0	0
Boeing Co	COMMON STOCKS	097023105	426,564	1,678	SH		OTR	ALL	1,678	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	3,232,956	50,721	SH		OTR	ALL	50,721	0	0
Broadcom Corp New	COMMON STOCKS	y09827109	3,279,868	13,523	SH		OTR	ALL	13,523	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	1,639,406	24,498	SH		OTR	ALL	24,498	0	0
Centurylink Inc	COMMON STOCKS	156700106	1,275,069	67,464	SH		OTR	ALL	67,464	0	0
Cintas Corp	COMMON STOCKS	172908105	1,899,446	13,165	SH		OTR	ALL	13,165	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	767,604	22,825	SH		OTR	ALL	22,825	0	0
Citizens Financial Group	COMMON STOCKS	174610105	1,802,612	47,600	SH		OTR	ALL	47,600	0	0
Clorox Co	COMMON STOCKS	189054109	1,896,865	14,380	SH		OTR	ALL	14,380	0	0
CME Group Inc	COMMON STOCKS	12572q105	3,132,986	23,091	SH		OTR	ALL	23,091	0	0
CMS Energy Corp	COMMON STOCKS	125896100	1,822,228	39,340	SH		OTR	ALL	39,340	0	0
Comerica Inc	COMMON STOCKS	200340107	1,742,541	22,850	SH		OTR	ALL	22,850	0	0
Cooper Cos Inc/The	COMMON STOCKS	216648402	2,120,948	8,945	SH		OTR	ALL	8,945	0	0
Corning Inc	COMMON STOCKS	219350105	2,130,154	71,195	SH		OTR	ALL	71,195	0	0
CVS Corp	COMMON STOCKS	126650100	755,625	9,292	SH		OTR	ALL	9,292	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	2,200,222	55,102	SH		OTR	ALL	55,102	0	0
Darden Restaurants	COMMON STOCKS	237194105	1,569,061	19,917	SH		OTR	ALL	19,917	0	0
Dentsply Intl Inc	COMMON STOCKS	24906P109	1,664,512	27,830	SH		OTR	ALL	27,830	0	0
Digital Realty Trust	COMMON STOCKS	253868103	2,025,809	17,120	SH		OTR	ALL	17,120	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	1,677,391	18,960	SH		OTR	ALL	18,960	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	1,417,873	12,180	SH		OTR	ALL	12,180	0	0
Enbridge Inc	COMMON STOCKS	29250N105	2,208,942	52,795	SH		OTR	ALL	52,795	0	0
EQT Midstream Partners LP	COMMON STOCKS	26885b100	392,018	5,229	SH		OTR	ALL	5,229	0	0
Equifax Inc	COMMON STOCKS	294429105	1,480,150	13,965	SH		OTR	ALL	13,965	0	0
Expedia Inc.	COMMON STOCKS	30212P303	1,949,667	13,545	SH		OTR	ALL	13,545	0	0
Fastenal Co.	COMMON STOCKS	311900104	1,509,837	33,125	SH		OTR	ALL	33,125	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	2,242,760	24,015	SH		OTR	ALL	24,015	0	0
Ford Motor Co	COMMON STOCKS	345370860	1,962,433	163,946	SH		OTR	ALL	163,946	0	0
Global Payments Inc	COMMON STOCKS	37940X102	2,107,290	22,175	SH		OTR	ALL	22,175	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	2,571,139	10,840	SH		OTR	ALL	10,840	0	0
Grainger W W Inc	COMMON STOCKS	384802104	1,198,932	6,670	SH		OTR	ALL	6,670	0	0
Harley-Davidson, Inc	COMMON STOCKS	412822108	1,241,648	25,755	SH		OTR	ALL	25,755	0	0
Hewlett Packard Co	COMMON STOCKS	40434L105	2,283,024	114,380	SH		OTR	ALL	114,380	0	0
Home Depot Inc	COMMON STOCKS	437076102	4,685,176	28,645	SH		OTR	ALL	28,645	0	0
HUMANA INC	COMMON STOCKS	444859102	2,214,596	9,090	SH		OTR	ALL	9,090	0	0
INTEL CORP	COMMON STOCKS	458140100	4,172,539	109,573	SH		OTR	ALL	109,573	0	0
Intercontinental Exchange Group. Inc.	COMMON STOCKS	45866F104	2,195,995	31,965	SH		OTR	ALL	31,965	0	0
International Paper Co	COMMON STOCKS	460146103	1,820,399	32,038	SH		OTR	ALL	32,038	0	0
Intuit	COMMON STOCKS	461202103	2,234,440	15,720	SH		OTR	ALL	15,720	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	1,711,704	48,850	SH		OTR	ALL	48,850	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	7,245,484	75,861	SH		OTR	ALL	75,861	0	0
JB Hunt	COMMON STOCKS	445658107	1,710,632	15,400	SH		OTR	ALL	15,400	0	0
Johnson & Johnson	COMMON STOCKS	478160104	791,240	6,086	SH		OTR	ALL	6,086	0	0
Keycorp	COMMON STOCKS	493267108	1,751,483	93,065	SH		OTR	ALL	93,065	0	0
Kla-Tencor Corp	COMMON STOCKS	482480100	2,167,700	20,450	SH		OTR	ALL	20,450	0	0
Kohl's Corp	COMMON STOCKS	500255104	1,221,228	26,752	SH		OTR	ALL	26,752	0	0
Lam Research Corp	COMMON STOCKS	512807108	2,931,033	15,840	SH		OTR	ALL	15,840	0	0
Lauder Estee Cos Inc	COMMON STOCKS	518439104	2,507,819	23,255	SH		OTR	ALL	23,255	0	0
Legg Mason Inc	COMMON STOCKS	524901105	1,740,646	44,280	SH		OTR	ALL	44,280	0	0
Leggett & Platt Inc	COMMON STOCKS	524660107	1,454,858	30,481	SH		OTR	ALL	30,481	0	0
Leucadia National Corp	COMMON STOCKS	527288104	1,633,170	64,680	SH		OTR	ALL	64,680	0	0
Lowe's Cos Inc	COMMON STOCKS	548661107	2,469,746	30,895	SH		OTR	ALL	30,895	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	771,797	7,792	SH		OTR	ALL	7,792	0	0
M & T Bk Corp	COMMON STOCKS	55261F104	1,806,868	11,220	SH		OTR	ALL	11,220	0	0
Macquarie Infrastructure Corp	COMMON STOCKS	55608b105	699,496	9,691	SH		OTR	ALL	9,691	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	1,206,704	88,990	SH		OTR	ALL	88,990	0	0
Marsh & Mclennan Cos	COMMON STOCKS	571748102	2,366,962	28,242	SH		OTR	ALL	28,242	0	0
Martin Marietta Materials	COMMON STOCKS	573284106	1,470,626	7,131	SH		OTR	ALL	7,131	0	0
Mckesson Corp	COMMON STOCKS	58155Q103	2,023,504	13,173	SH		OTR	ALL	13,173	0	0
Medtronic Inc	COMMON STOCKS	G5960L103	3,347,998	43,050	SH		OTR	ALL	43,050	0	0
Microchip Technology	COMMON STOCKS	595017104	2,255,722	25,125	SH		OTR	ALL	25,125	0	0
Microsoft Corp	COMMON STOCKS	594918104	10,919,638	146,592	SH		OTR	ALL	146,592	0	0
Moody's Corp	COMMON STOCKS	615369105	2,401,372	17,250	SH		OTR	ALL	17,250	0	0
Morgan Stanley	COMMON STOCKS	617446448	2,530,129	52,525	SH		OTR	ALL	52,525	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	470,278	3,209	SH		OTR	ALL	3,209	0	0
Northern Trust Corp	COMMON STOCKS	665859104	1,740,234	18,930	SH		OTR	ALL	18,930	0	0
Omnicom Group	COMMON STOCKS	681919106	1,506,583	20,340	SH		OTR	ALL	20,340	0	0
Paychex Inc	COMMON STOCKS	704326107	2,466,274	41,132	SH		OTR	ALL	41,132	0	0
People's United Financial	COMMON STOCKS	712704105	1,395,782	76,945	SH		OTR	ALL	76,945	0	0
Perkinelmer Inc	COMMON STOCKS	714046109	1,969,093	28,550	SH		OTR	ALL	28,550	0	0
Pfizer Inc	COMMON STOCKS	717081103	750,521	21,023	SH		OTR	ALL	21,023	0	0
Pioneer Nat Res Co	COMMON STOCKS	723787107	1,473,186	9,985	SH		OTR	ALL	9,985	0	0
PNC FINANCIAL SERVICES GROUP INC	COMMON STOCKS	693475105	2,619,928	19,440	SH		OTR	ALL	19,440	0	0
Progressive Corp	COMMON STOCKS	743315103	2,435,768	50,305	SH		OTR	ALL	50,305	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	2,080,363	19,567	SH		OTR	ALL	19,567	0	0
Quest Diagnostics In	COMMON STOCKS	74834L100	1,676,624	17,905	SH		OTR	ALL	17,905	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	1,568,594	31,160	SH		OTR	ALL	31,160	0	0
Roper Industries Inc	COMMON STOCKS	776696106	2,262,403	9,295	SH		OTR	ALL	9,295	0	0
Ryder Sys Inc	COMMON STOCKS	783549108	1,500,339	17,745	SH		OTR	ALL	17,745	0	0
S&P Global Inc.	COMMON STOCKS	78409V104	2,597,872	16,620	SH		OTR	ALL	16,620	0	0
Schlumberger Ltd	COMMON STOCKS	806857108	2,580,422	36,990	SH		OTR	ALL	36,990	0	0
Schwab Charles Corp	COMMON STOCKS	808513105	2,342,277	53,550	SH		OTR	ALL	53,550	0	0
Sealed Air Corp New	COMMON STOCKS	81211K100	1,374,943	32,185	SH		OTR	ALL	32,185	0	0
Sempra Energy	COMMON STOCKS	816851109	2,068,606	18,125	SH		OTR	ALL	18,125	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	2,291,814	6,401	SH		OTR	ALL	6,401	0	0
Six Flags Entertainment	COMMON STOCKS	83001a102	796,607	13,072	SH		OTR	ALL	13,072	0	0
SKYWORKS SOLUTIONS INC	COMMON STOCKS	83088M102	2,126,143	20,865	SH		OTR	ALL	20,865	0	0
Spectra Energy Partners LP	COMMON STOCKS	84756n109	396,135	8,926	SH		OTR	ALL	8,926	0	0
Starbucks Corp	COMMON STOCKS	855244109	2,394,928	44,590	SH		OTR	ALL	44,590	0	0
Symantec Corp	COMMON STOCKS	871503108	2,212,378	67,430	SH		OTR	ALL	67,430	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	1,956,227	21,580	SH		OTR	ALL	21,580	0	0
TE Connectivity Ltd	COMMON STOCKS	H84989104	2,091,866	25,185	SH		OTR	ALL	25,185	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	3,955,365	44,125	SH		OTR	ALL	44,125	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	2,995,036	15,830	SH		OTR	ALL	15,830	0	0
TRACTOR SUPPLY COMPANY	COMMON STOCKS	892356106	1,303,141	20,590	SH		OTR	ALL	20,590	0	0
Union Pac Corp	COMMON STOCKS	907818108	2,972,311	25,630	SH		OTR	ALL	25,630	0	0
United Parcel Services	COMMON STOCKS	911312106	851,438	7,090	SH		OTR	ALL	7,090	0	0
Unitedhealth Group Inc	COMMON STOCKS	91324P102	4,342,190	22,171	SH		OTR	ALL	22,171	0	0
Universal Health Services - B	COMMON STOCKS	913903100	1,579,230	14,235	SH		OTR	ALL	14,235	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	2,960,112	38,478	SH		OTR	ALL	38,478	0	0
VF Corp	COMMON STOCKS	918204108	845,989	13,308	SH		OTR	ALL	13,308	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	1,569,510	13,123	SH		OTR	ALL	13,123	0	0
Walt Disney Co	COMMON STOCKS	254687106	3,388,935	34,381	SH		OTR	ALL	34,381	0	0
Wells Fargo & Co New	COMMON STOCKS	949746101	398,513	7,226	SH		OTR	ALL	7,226	0	0
Western Un Co	COMMON STOCKS	959802109	1,374,624	71,595	SH		OTR	ALL	71,595	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	1,847,658	54,295	SH		OTR	ALL	54,295	0	0
Williams Cos Inc Del	COMMON STOCKS	969457100	1,704,087	56,784	SH		OTR	ALL	56,784	0	0
Willis Tower Watson PLC	COMMON STOCKS	G96629103	2,091,667	13,562	SH		OTR	ALL	13,562	0	0
Xilinx Inc	COMMON STOCKS	983919101	2,062,215	29,115	SH		OTR	ALL	29,115	0	0
Xl Group Plc	COMMON STOCKS	G98294104	1,703,451	43,180	SH		OTR	ALL	43,180	0	0
Zions Bancorp	COMMON STOCKS	989701107	1,705,321	36,145	SH		OTR	ALL	36,145	0	0
Arconinc (RTI)	CONVERTIBLE BOND	74973WAB3	1,190,317	1,053	SH		OTR	ALL	1,053	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAM5	3,125,444	2,990	SH		OTR	ALL	2,990	0	0
Calatlantic Group Inc	CONVERTIBLE BOND	783764AQ6	1,138,098	936	SH		OTR	ALL	936	0	0
Citrix Inc	CONVERTIBLE BOND	177376AD2	1,782,960	1,527	SH		OTR	ALL	1,527	0	0
Dycom Inc	CONVERTIBLE BOND	267475AB7	1,104,009	967	SH		OTR	ALL	967	0	0
Finisar Corp	CONVERTIBLE BOND	31787AAM3	2,372,382	2,258	SH		OTR	ALL	2,258	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	2,726,616	2,575	SH		OTR	ALL	2,575	0	0
Janus Capital	CONVERTIBLE BOND	47102XAH8	1,236,757	796	SH		OTR	ALL	796	0	0
Lam Research Corp	CONVERTIBLE BOND	512807AL2	8,051,866	2,619	SH		OTR	ALL	2,619	0	0
Macquarie Infrastructure Co	CONVERTIBLE BOND	55608BAA3	2,863,845	2,661	SH		OTR	ALL	2,661	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	1,774,458	1,260	SH		OTR	ALL	1,260	0	0
NXP Semiconductors	CONVERTIBLE BOND	62952QAB6	3,214,128	2,644	SH		OTR	ALL	2,644	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,318,598	1,801	SH		OTR	ALL	1,801	0	0
Priceline Group Inc	CONVERTIBLE BOND	741503AX4	3,465,224	3,009	SH		OTR	ALL	3,009	0	0
Red Hat Inc	CONVERTIBLE BOND	756577AD4	2,872,744	1,861	SH		OTR	ALL	1,861	0	0
RPM International Inc	CONVERTIBLE BOND	749685AT0	1,929,902	1,653	SH		OTR	ALL	1,653	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAA0	2,154,059	2,100	SH		OTR	ALL	2,100	0	0
TCP Capital Corp	CONVERTIBLE BOND	87238QAB9	2,170,948	1,997	SH		OTR	ALL	1,997	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAB8	2,479,539	2,330	SH		OTR	ALL	2,330	0	0
VEREIT	CONVERTIBLE BOND	02917TAA2	2,106,009	2,073	SH		OTR	ALL	2,073	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	2,179,127	59,998	SH		OTR	ALL	59,998	0	0
Allergan PLC	CONVERTIBLE PREFERRED STOCK	G0177J116	3,790,975	5,138	SH		OTR	ALL	5,138	0	0
American Tower Corp - Class B	CONVERTIBLE PREFERRED STOCK	03027X407	2,512,124	20,645	SH		OTR	ALL	20,645	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	2,106,844	34,130	SH		OTR	ALL	34,130	0	0
Anadarko Petroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	2,290,276	58,713	SH		OTR	ALL	58,713	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	4,577,959	87,650	SH		OTR	ALL	87,650	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	3,669,586	66,641	SH		OTR	ALL	66,641	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,951,324	18,829	SH		OTR	ALL	18,829	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	3,503,040	3,280	SH		OTR	ALL	3,280	0	0
Dominion Resources	CONVERTIBLE PREFERRED STOCK	25746U836	4,791,017	94,572	SH		OTR	ALL	94,572	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	344,789	9,479	SH		OTR	ALL	9,479	0	0
Hess Corp	CONVERTIBLE PREFERRED STOCK	42809H404	2,047,227	34,910	SH		OTR	ALL	34,910	0	0
Kinder Morgan Inc/Delaware	CONVERTIBLE PREFERRED STOCK	49456B200	251,870	5,975	SH		OTR	ALL	5,975	0	0
Rayonier	CONVERTIBLE PREFERRED STOCK	75508B203	352,042	3,335	SH		OTR	ALL	3,335	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502887	3,240,271	28,360	SH		OTR	ALL	28,360	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	1,858,697	31,960	SH		OTR	ALL	31,960	0	0
Teva Pharmaceutical Cv Pfd	CONVERTIBLE PREFERRED STOCK	M8769Q136	1,722,139	4,973	SH		OTR	ALL	4,973	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,409,480	2,586	SH		OTR	ALL	2,586	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	2,245,528	35,271	SH		OTR	ALL	35,271	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	13,003	1,159	SH		OTR	ALL	1,159	0	0
Financial Select Sector SPDR Fund	EXCHANGE TRADED FUND	81369Y605	131,989	5,104	SH		OTR	ALL	5,104	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	434,642	8,629	SH		OTR	ALL	8,629	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	346,390	3,288	SH		OTR	ALL	3,288	0	0
ISHARES CURNCY HDG MSCI SPAIN ETF	EXCHANGE TRADED FUND	46435g813	476,674	20,698	SH		OTR	ALL	20,698	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	471,395	16,546	SH		OTR	ALL	16,546	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	583,976	11,464	SH		OTR	ALL	11,464	0	0
iShares GNMA Bond Fund	EXCHANGE TRADED FUND	46429B333	89,274	1,788	SH		OTR	ALL	1,788	0	0
iShares High Yield Hedged	EXCHANGE TRADED FUND	46431W606	59,020	643	SH		OTR	ALL	643	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	355,838	4,009	SH		OTR	ALL	4,009	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	577,418	4,763	SH		OTR	ALL	4,763	0	0
iShares Interest Rate Hedged 10 plus Year	EXCHANGE TRADED FUND	46431W812	119,974	4,661	SH		OTR	ALL	4,661	0	0
iShares Intermediate Credit	EXCHANGE TRADED FUND	464288638	567,874	5,155	SH		OTR	ALL	5,155	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	111,811	1,324	SH		OTR	ALL	1,324	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	649,668	6,066	SH		OTR	ALL	6,066	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	504,782	16,336	SH		OTR	ALL	16,336	0	0
ISHARES MSCI HONG KONG ETF	EXCHANGE TRADED FUND	464286871	510,589	20,680	SH		OTR	ALL	20,680	0	0
ISHARES MSCI INDIA INDEX ETF	EXCHANGE TRADED FUND	46429b598	508,879	15,491	SH		OTR	ALL	15,491	0	0
ISHARES MSCI SINGAPORE CAPPED ETF	EXCHANGE TRADED FUND	46434g780	472,744	19,351	SH		OTR	ALL	19,351	0	0
ISHARES MSCI TAIWAN CAPPED ETF	EXCHANGE TRADED FUND	46434g772	485,689	13,454	SH		OTR	ALL	13,454	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	22,716	200	SH		OTR	ALL	200	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	515,272	2,051	SH		OTR	ALL	2,051	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	112,742	1,407	SH		OTR	ALL	1,407	0	0
Citigroup Inc	PREFERRED STOCK	172967358	309,555	10,678	SH		OTR	ALL	10,678	0	0
Digital Realty Trust Inc	PREFERRED STOCK	253868871	262,087	9,664	SH		OTR	ALL	9,664	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	327,930	11,351	SH		OTR	ALL	11,351	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	310,660	12,250	SH		OTR	ALL	12,250	0	0
Wells Fargo & Co	PREFERRED STOCK	949746556	312,137	11,442	SH		OTR	ALL	11,442	0	0
CyrusOne Inc.	REITS - usd	23283r100	445,275	7,556	SH		OTR	ALL	7,556	0	0
Omega Healthcare Investors Inc	REITS - usd	681936100	638,295	20,003	SH		OTR	ALL	20,003	0	0
W P Carey Inc	REITS - usd	92936u109	772,693	11,466	SH		OTR	ALL	11,466	0	0
Safeway Casa Ley CVR	WARRANTS	786cvr209	84,315	83,481	SH		OTR	ALL	83,481	0	0
Safeway PDC, LLC CVR	WARRANTS	786cvr308	2,504	83,481	SH		OTR	ALL	83,481	0	0