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
Activision Blizzard Inc.	COMMON STOCKS	00507V109	3,082,734	48,685	SH		OTR	ALL	48,685	0	0
Advance Auto Parts Inc	COMMON STOCKS	00751Y106	907,677	9,105	SH		OTR	ALL	9,105	0	0
Aetna Inc	COMMON STOCKS	00817Y108	2,924,122	16,210	SH		OTR	ALL	16,210	0	0
Agilent Technologies	COMMON STOCKS	00846U101	2,390,159	35,690	SH		OTR	ALL	35,690	0	0
Altria Group Inc	COMMON STOCKS	02209s103	772,014	10,811	SH		OTR	ALL	10,811	0	0
Ameriprise Financial, Inc.	COMMON STOCKS	03076C106	2,436,979	14,380	SH		OTR	ALL	14,380	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	1,914,998	20,856	SH		OTR	ALL	20,856	0	0
Ametek Inc.	COMMON STOCKS	031100100	2,264,688	31,250	SH		OTR	ALL	31,250	0	0
Amgen Inc	COMMON STOCKS	031162100	720,642	4,144	SH		OTR	ALL	4,144	0	0
Amphenol Corp	COMMON STOCKS	032095101	2,223,096	25,320	SH		OTR	ALL	25,320	0	0
Analog Devices Inc	COMMON STOCKS	032654105	2,643,123	29,688	SH		OTR	ALL	29,688	0	0
Andeavor	COMMON STOCKS	03349M105	2,003,122	17,519	SH		OTR	ALL	17,519	0	0
Aon PLC	COMMON STOCKS	G0408V102	2,213,680	16,520	SH		OTR	ALL	16,520	0	0
Applied Materials Inc	COMMON STOCKS	038222105	3,024,259	59,160	SH		OTR	ALL	59,160	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	644,379	40,991	SH		OTR	ALL	40,991	0	0
AT&T Inc	COMMON STOCKS	00206r102	618,348	15,904	SH		OTR	ALL	15,904	0	0
Automatic Data Processing Inc.	COMMON STOCKS	053015103	2,412,356	20,585	SH		OTR	ALL	20,585	0	0
Baker Hughes GE Co.	COMMON STOCKS	05722G100	873,264	27,600	SH		OTR	ALL	27,600	0	0
Bank of New York Mellon Corp	COMMON STOCKS	064058100	2,359,607	43,810	SH		OTR	ALL	43,810	0	0
BB&T Corp	COMMON STOCKS	054937107	2,096,195	42,160	SH		OTR	ALL	42,160	0	0
BCE Inc	COMMON STOCKS	05534b760	711,076	14,811	SH		OTR	ALL	14,811	0	0
Best Buy Inc	COMMON STOCKS	086516101	2,251,294	32,880	SH		OTR	ALL	32,880	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,752,283	66,830	SH		OTR	ALL	66,830	0	0
Boeing Co	COMMON STOCKS	097023105	426,440	1,446	SH		OTR	ALL	1,446	0	0
Bristol Myers Squibb	COMMON STOCKS	110122108	3,108,183	50,721	SH		OTR	ALL	50,721	0	0
Broadcom Corp New	COMMON STOCKS	y09827109	3,474,059	13,523	SH		OTR	ALL	13,523	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	1,500,992	24,498	SH		OTR	ALL	24,498	0	0
Centurylink Inc	COMMON STOCKS	156700106	1,125,300	67,464	SH		OTR	ALL	67,464	0	0
Cintas Corp	COMMON STOCKS	172908105	2,051,502	13,165	SH		OTR	ALL	13,165	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	799,513	20,875	SH		OTR	ALL	20,875	0	0
Citizens Financial Group	COMMON STOCKS	174610105	1,998,248	47,600	SH		OTR	ALL	47,600	0	0
Clorox Co	COMMON STOCKS	189054109	2,138,881	14,380	SH		OTR	ALL	14,380	0	0
CME Group Inc	COMMON STOCKS	12572q105	3,155,702	21,607	SH		OTR	ALL	21,607	0	0
CMS Energy Corp	COMMON STOCKS	125896100	1,860,782	39,340	SH		OTR	ALL	39,340	0	0
Comerica Inc	COMMON STOCKS	200340107	1,983,609	22,850	SH		OTR	ALL	22,850	0	0
Cooper Cos Inc/The	COMMON STOCKS	216648402	1,948,937	8,945	SH		OTR	ALL	8,945	0	0
Corning Inc	COMMON STOCKS	219350105	2,277,528	71,195	SH		OTR	ALL	71,195	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	2,814,059	55,102	SH		OTR	ALL	55,102	0	0
Darden Restaurants	COMMON STOCKS	237194105	1,912,430	19,917	SH		OTR	ALL	19,917	0	0
Dentsply Intl Inc	COMMON STOCKS	24906P109	1,832,049	27,830	SH		OTR	ALL	27,830	0	0
Digital Realty Trust	COMMON STOCKS	253868103	1,949,968	17,120	SH		OTR	ALL	17,120	0	0
Dominion Res Inc Va	COMMON STOCKS	25746U109	370,525	4,571	SH		OTR	ALL	4,571	0	0
Dr Pepper Snapple Group Inc.	COMMON STOCKS	26138E109	1,840,258	18,960	SH		OTR	ALL	18,960	0	0
Dun & Bradstreet Corp	COMMON STOCKS	26483E100	1,442,234	12,180	SH		OTR	ALL	12,180	0	0
Enbridge Inc	COMMON STOCKS	29250N105	2,068,059	52,878	SH		OTR	ALL	52,878	0	0
EQT Midstream Partners LP	COMMON STOCKS	26885b100	321,128	4,393	SH		OTR	ALL	4,393	0	0
Equifax Inc	COMMON STOCKS	294429105	1,646,753	13,965	SH		OTR	ALL	13,965	0	0
Expedia Inc.	COMMON STOCKS	30212P303	1,622,285	13,545	SH		OTR	ALL	13,545	0	0
Fastenal Co.	COMMON STOCKS	311900104	1,811,606	33,125	SH		OTR	ALL	33,125	0	0
Fidelity Natl Inform	COMMON STOCKS	31620M106	2,259,571	24,015	SH		OTR	ALL	24,015	0	0
Ford Motor Co	COMMON STOCKS	345370860	2,047,686	163,946	SH		OTR	ALL	163,946	0	0
Global Payments Inc	COMMON STOCKS	37940X102	2,222,822	22,175	SH		OTR	ALL	22,175	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	2,761,598	10,840	SH		OTR	ALL	10,840	0	0
Grainger W W Inc	COMMON STOCKS	384802104	1,575,788	6,670	SH		OTR	ALL	6,670	0	0
Harley-Davidson, Inc	COMMON STOCKS	412822108	1,310,414	25,755	SH		OTR	ALL	25,755	0	0
Hewlett Packard Co	COMMON STOCKS	40434L105	2,403,124	114,380	SH		OTR	ALL	114,380	0	0
Home Depot Inc	COMMON STOCKS	437076102	5,429,087	28,645	SH		OTR	ALL	28,645	0	0
HUMANA INC	COMMON STOCKS	444859102	2,254,956	9,090	SH		OTR	ALL	9,090	0	0
INTEL CORP	COMMON STOCKS	458140100	5,057,890	109,573	SH		OTR	ALL	109,573	0	0
Intercontinental Exchange Group. Inc.	COMMON STOCKS	45866F104	2,255,450	31,965	SH		OTR	ALL	31,965	0	0
International Paper Co	COMMON STOCKS	460146103	1,856,282	32,038	SH		OTR	ALL	32,038	0	0
Intuit	COMMON STOCKS	461202103	2,480,302	15,720	SH		OTR	ALL	15,720	0	0
Invesco Ltd.	COMMON STOCKS	G491BT108	1,784,979	48,850	SH		OTR	ALL	48,850	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	7,887,039	73,752	SH		OTR	ALL	73,752	0	0
JB Hunt	COMMON STOCKS	445658107	1,770,692	15,400	SH		OTR	ALL	15,400	0	0
Johnson & Johnson	COMMON STOCKS	478160104	779,358	5,578	SH		OTR	ALL	5,578	0	0
Keycorp	COMMON STOCKS	493267108	1,877,121	93,065	SH		OTR	ALL	93,065	0	0
Kla-Tencor Corp	COMMON STOCKS	482480100	2,148,682	20,450	SH		OTR	ALL	20,450	0	0
Kohl's Corp	COMMON STOCKS	500255104	1,450,761	26,752	SH		OTR	ALL	26,752	0	0
Lam Research Corp	COMMON STOCKS	512807108	2,915,669	15,840	SH		OTR	ALL	15,840	0	0
Lauder Estee Cos Inc	COMMON STOCKS	518439104	2,958,966	23,255	SH		OTR	ALL	23,255	0	0
Legg Mason Inc	COMMON STOCKS	524901105	1,858,874	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	1,713,373	64,680	SH		OTR	ALL	64,680	0	0
Lowe's Cos Inc	COMMON STOCKS	548661107	2,871,381	30,895	SH		OTR	ALL	30,895	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	783,272	7,100	SH		OTR	ALL	7,100	0	0
M & T Bk Corp	COMMON STOCKS	55261F104	1,918,508	11,220	SH		OTR	ALL	11,220	0	0
Macquarie Infrastructure Corp	COMMON STOCKS	55608b105	573,242	8,929	SH		OTR	ALL	8,929	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	1,506,601	88,990	SH		OTR	ALL	88,990	0	0
Marsh & Mclennan Cos	COMMON STOCKS	571748102	2,298,616	28,242	SH		OTR	ALL	28,242	0	0
Martin Marietta Materials	COMMON STOCKS	573284106	1,576,236	7,131	SH		OTR	ALL	7,131	0	0
Mckesson Corp	COMMON STOCKS	58155Q103	2,054,329	13,173	SH		OTR	ALL	13,173	0	0
Medtronic Inc	COMMON STOCKS	G5960L103	3,476,288	43,050	SH		OTR	ALL	43,050	0	0
Microchip Technology	COMMON STOCKS	595017104	2,207,985	25,125	SH		OTR	ALL	25,125	0	0
Microsoft Corp	COMMON STOCKS	594918104	12,276,786	143,521	SH		OTR	ALL	143,521	0	0
Moody's Corp	COMMON STOCKS	615369105	2,546,273	17,250	SH		OTR	ALL	17,250	0	0
Morgan Stanley	COMMON STOCKS	617446448	2,755,987	52,525	SH		OTR	ALL	52,525	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	431,865	2,765	SH		OTR	ALL	2,765	0	0
Northern Trust Corp	COMMON STOCKS	665859104	1,890,918	18,930	SH		OTR	ALL	18,930	0	0
Omnicom Group	COMMON STOCKS	681919106	1,481,362	20,340	SH		OTR	ALL	20,340	0	0
Paychex Inc	COMMON STOCKS	704326107	2,715,235	39,883	SH		OTR	ALL	39,883	0	0
People's United Financial	COMMON STOCKS	712704105	1,438,872	76,945	SH		OTR	ALL	76,945	0	0
Perkinelmer Inc	COMMON STOCKS	714046109	2,087,576	28,550	SH		OTR	ALL	28,550	0	0
Pfizer Inc	COMMON STOCKS	717081103	696,185	19,221	SH		OTR	ALL	19,221	0	0
Pioneer Nat Res Co	COMMON STOCKS	723787107	1,725,907	9,985	SH		OTR	ALL	9,985	0	0
PNC FINANCIAL SERVICES GROUP INC	COMMON STOCKS	693475105	2,804,998	19,440	SH		OTR	ALL	19,440	0	0
Progressive Corp	COMMON STOCKS	743315103	2,833,178	50,305	SH		OTR	ALL	50,305	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	2,249,814	19,567	SH		OTR	ALL	19,567	0	0
Quest Diagnostics In	COMMON STOCKS	74834L100	1,763,463	17,905	SH		OTR	ALL	17,905	0	0
Robert Half International, Inc.	COMMON STOCKS	770323103	1,730,626	31,160	SH		OTR	ALL	31,160	0	0
Roper Industries Inc	COMMON STOCKS	776696106	2,407,405	9,295	SH		OTR	ALL	9,295	0	0
Ryder Sys Inc	COMMON STOCKS	783549108	1,493,597	17,745	SH		OTR	ALL	17,745	0	0
S&P Global Inc.	COMMON STOCKS	78409V104	2,815,428	16,620	SH		OTR	ALL	16,620	0	0
Schlumberger Ltd	COMMON STOCKS	806857108	2,492,756	36,990	SH		OTR	ALL	36,990	0	0
Schwab Charles Corp	COMMON STOCKS	808513105	2,750,864	53,550	SH		OTR	ALL	53,550	0	0
Sealed Air Corp New	COMMON STOCKS	81211K100	1,586,721	32,185	SH		OTR	ALL	32,185	0	0
Sempra Energy	COMMON STOCKS	816851109	1,937,925	18,125	SH		OTR	ALL	18,125	0	0
Sherwin Williams Co	COMMON STOCKS	824348106	2,624,666	6,401	SH		OTR	ALL	6,401	0	0
Six Flags Entertainment	COMMON STOCKS	83001a102	784,261	11,781	SH		OTR	ALL	11,781	0	0
SKYWORKS SOLUTIONS INC	COMMON STOCKS	83088M102	1,981,132	20,865	SH		OTR	ALL	20,865	0	0
Spectra Energy Partners LP	COMMON STOCKS	84756n109	296,471	7,498	SH		OTR	ALL	7,498	0	0
Starbucks Corp	COMMON STOCKS	855244109	2,560,804	44,590	SH		OTR	ALL	44,590	0	0
Symantec Corp	COMMON STOCKS	871503108	1,892,086	67,430	SH		OTR	ALL	67,430	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	2,264,389	21,580	SH		OTR	ALL	21,580	0	0
TE Connectivity Ltd	COMMON STOCKS	H84989104	2,393,582	25,185	SH		OTR	ALL	25,185	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	4,515,359	43,234	SH		OTR	ALL	43,234	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	3,005,800	15,830	SH		OTR	ALL	15,830	0	0
TRACTOR SUPPLY COMPANY	COMMON STOCKS	892356106	1,539,103	20,590	SH		OTR	ALL	20,590	0	0
Union Pac Corp	COMMON STOCKS	907818108	3,436,983	25,630	SH		OTR	ALL	25,630	0	0
United Parcel Services	COMMON STOCKS	911312106	772,211	6,481	SH		OTR	ALL	6,481	0	0
Unitedhealth Group Inc	COMMON STOCKS	91324P102	4,887,819	22,171	SH		OTR	ALL	22,171	0	0
Universal Health Services - B	COMMON STOCKS	913903100	1,613,537	14,235	SH		OTR	ALL	14,235	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	3,430,265	37,322	SH		OTR	ALL	37,322	0	0
VF Corp	COMMON STOCKS	918204108	872,386	11,789	SH		OTR	ALL	11,789	0	0
Vulcan Materials Co	COMMON STOCKS	929160109	1,684,600	13,123	SH		OTR	ALL	13,123	0	0
Walt Disney Co	COMMON STOCKS	254687106	3,696,301	34,381	SH		OTR	ALL	34,381	0	0
Wells Fargo & Co New	COMMON STOCKS	949746101	378,156	6,233	SH		OTR	ALL	6,233	0	0
Western Un Co	COMMON STOCKS	959802109	1,361,021	71,595	SH		OTR	ALL	71,595	0	0
Weyerhaeuser Co	COMMON STOCKS	962166104	1,914,442	54,295	SH		OTR	ALL	54,295	0	0
Williams Cos Inc Del	COMMON STOCKS	969457100	1,731,344	56,784	SH		OTR	ALL	56,784	0	0
Willis Tower Watson PLC	COMMON STOCKS	G96629103	2,043,658	13,562	SH		OTR	ALL	13,562	0	0
Xilinx Inc	COMMON STOCKS	983919101	1,962,933	29,115	SH		OTR	ALL	29,115	0	0
Xl Group Plc	COMMON STOCKS	G98294104	1,518,209	43,180	SH		OTR	ALL	43,180	0	0
Zions Bancorp	COMMON STOCKS	989701107	1,837,250	36,145	SH		OTR	ALL	36,145	0	0
Arconinc (RTI)	CONVERTIBLE BOND	74973WAB3	1,229,495	1,067	SH		OTR	ALL	1,067	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAM5	3,187,345	2,998	SH		OTR	ALL	2,998	0	0
Calatlantic Group Inc	CONVERTIBLE BOND	783764AQ6	1,678,791	931	SH		OTR	ALL	931	0	0
Citrix Inc	CONVERTIBLE BOND	177376AD2	2,004,778	1,544	SH		OTR	ALL	1,544	0	0
Dycom Inc	CONVERTIBLE BOND	267475AB7	1,274,092	973	SH		OTR	ALL	973	0	0
Finisar Corp	CONVERTIBLE BOND	31787AAM3	2,173,823	2,155	SH		OTR	ALL	2,155	0	0
HANNON ARMSTRONG	CONVERTIBLE BOND	41068XAB6	1,630,334	1,543	SH		OTR	ALL	1,543	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	2,808,751	2,582	SH		OTR	ALL	2,582	0	0
Janus Capital	CONVERTIBLE BOND	47102XAH8	1,368,887	798	SH		OTR	ALL	798	0	0
Lam Research Corp	CONVERTIBLE BOND	512807AL2	7,920,681	2,587	SH		OTR	ALL	2,587	0	0
Macquarie Infrastructure Co	CONVERTIBLE BOND	55608BAA3	2,687,219	2,541	SH		OTR	ALL	2,541	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	1,832,205	1,262	SH		OTR	ALL	1,262	0	0
NXP Semiconductors	CONVERTIBLE BOND	62952QAB6	3,247,141	2,615	SH		OTR	ALL	2,615	0	0
Old Republic Intl Corp	CONVERTIBLE BOND	680223AH7	2,551,129	1,810	SH		OTR	ALL	1,810	0	0
Priceline Group Inc	CONVERTIBLE BOND	741503AX4	3,561,340	3,034	SH		OTR	ALL	3,034	0	0
Red Hat Inc	CONVERTIBLE BOND	756577AD4	3,085,874	1,870	SH		OTR	ALL	1,870	0	0
RPM International Inc	CONVERTIBLE BOND	749685AT0	1,939,488	1,667	SH		OTR	ALL	1,667	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAA0	2,117,499	2,096	SH		OTR	ALL	2,096	0	0
Starwood Property Trust	CONVERTIBLE BOND	85571BAH8	1,354,449	1,303	SH		OTR	ALL	1,303	0	0
TCP Capital Corp	CONVERTIBLE BOND	87238QAB9	2,116,309	2,011	SH		OTR	ALL	2,011	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAB8	2,419,489	2,336	SH		OTR	ALL	2,336	0	0
VEREIT	CONVERTIBLE BOND	02917TAA2	2,144,718	2,092	SH		OTR	ALL	2,092	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	2,234,170	59,718	SH		OTR	ALL	59,718	0	0
Allergan PLC	CONVERTIBLE PREFERRED STOCK	G0177J116	2,857,647	4,875	SH		OTR	ALL	4,875	0	0
American Tower Corp - Class B	CONVERTIBLE PREFERRED STOCK	03027X407	2,287,499	18,180	SH		OTR	ALL	18,180	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	2,190,058	34,225	SH		OTR	ALL	34,225	0	0
Anadarko Petroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	2,008,222	58,849	SH		OTR	ALL	58,849	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	4,866,264	86,865	SH		OTR	ALL	86,865	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	3,882,384	66,687	SH		OTR	ALL	66,687	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,963,030	18,894	SH		OTR	ALL	18,894	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	3,726,107	3,294	SH		OTR	ALL	3,294	0	0
Dominion Resources	CONVERTIBLE PREFERRED STOCK	25746U836	4,888,414	94,360	SH		OTR	ALL	94,360	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	344,363	9,345	SH		OTR	ALL	9,345	0	0
Hess Corp	CONVERTIBLE PREFERRED STOCK	42809H404	2,046,737	35,180	SH		OTR	ALL	35,180	0	0
Kinder Morgan Inc/Delaware	CONVERTIBLE PREFERRED STOCK	49456B200	299,448	7,915	SH		OTR	ALL	7,915	0	0
Rayonier	CONVERTIBLE PREFERRED STOCK	75508B203	458,368	3,165	SH		OTR	ALL	3,165	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502887	3,496,375	28,464	SH		OTR	ALL	28,464	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	1,613,663	30,336	SH		OTR	ALL	30,336	0	0
Teva Pharmaceutical Cv Pfd	CONVERTIBLE PREFERRED STOCK	M8769Q136	1,524,614	4,291	SH		OTR	ALL	4,291	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,400,776	2,589	SH		OTR	ALL	2,589	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	2,163,065	36,095	SH		OTR	ALL	36,095	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	19,239	1,783	SH		OTR	ALL	1,783	0	0
Financial Select Sector SPDR Fund	EXCHANGE TRADED FUND	81369Y605	142,453	5,104	SH		OTR	ALL	5,104	0	0
Global X MSCI Norway ETF	EXCHANGE TRADED FUND	37950E747	451,017	34,337	SH		OTR	ALL	34,337	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	18383M654	407,688	8,131	SH		OTR	ALL	8,131	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	316,652	3,029	SH		OTR	ALL	3,029	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	462,024	16,104	SH		OTR	ALL	16,104	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	545,349	10,731	SH		OTR	ALL	10,731	0	0
iShares GNMA Bond Fund	EXCHANGE TRADED FUND	46429B333	88,470	1,788	SH		OTR	ALL	1,788	0	0
iShares High Yield Hedged	EXCHANGE TRADED FUND	46431W606	58,417	643	SH		OTR	ALL	643	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	330,628	3,789	SH		OTR	ALL	3,789	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	536,687	4,415	SH		OTR	ALL	4,415	0	0
iShares Interest Rate Hedged 10plus Year	EXCHANGE TRADED FUND	46431W812	123,144	4,661	SH		OTR	ALL	4,661	0	0
iShares Intermediate Credit	EXCHANGE TRADED FUND	464288638	521,587	4,776	SH		OTR	ALL	4,776	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	111,017	1,324	SH		OTR	ALL	1,324	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	609,908	5,722	SH		OTR	ALL	5,722	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	506,669	16,229	SH		OTR	ALL	16,229	0	0
ISHARES MSCI HONG KONG ETF	EXCHANGE TRADED FUND	464286871	511,476	20,121	SH		OTR	ALL	20,121	0	0
ISHARES MSCI INDIA INDEX ETF	EXCHANGE TRADED FUND	46429b598	543,395	15,065	SH		OTR	ALL	15,065	0	0
ISHARES MSCI SINGAPORE CAPPED ETF	EXCHANGE TRADED FUND	46434g780	487,691	18,808	SH		OTR	ALL	18,808	0	0
ISHARES MSCI TAIWAN CAPPED ETF	EXCHANGE TRADED FUND	46434g772	474,206	13,096	SH		OTR	ALL	13,096	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	22,816	200	SH		OTR	ALL	200	0	0
SPDR Barclays Convertible Securities ETF	EXCHANGE TRADED FUND	78464A359	553,513	10,939	SH		OTR	ALL	10,939	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	528,116	1,979	SH		OTR	ALL	1,979	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	111,575	1,407	SH		OTR	ALL	1,407	0	0
Carlyle Group LP	PREFERRED STOCK	14309L201	333,565	13,148	SH		OTR	ALL	13,148	0	0
Citigroup Inc	PREFERRED STOCK	172967358	305,204	10,579	SH		OTR	ALL	10,579	0	0
Digital Realty Trust Inc	PREFERRED STOCK	253868871	323,427	12,127	SH		OTR	ALL	12,127	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	318,869	11,212	SH		OTR	ALL	11,212	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	302,725	12,109	SH		OTR	ALL	12,109	0	0
Wells Fargo & Co	PREFERRED STOCK	949746556	305,613	11,319	SH		OTR	ALL	11,319	0	0
Crown Castle Intl Corp	REITS - usd	22822V101	387,203	3,488	SH		OTR	ALL	3,488	0	0
Omega Healthcare Investors Inc	REITS - usd	681936100	495,114	17,978	SH		OTR	ALL	17,978	0	0
W P Carey Inc	REITS - usd	92936u109	722,417	10,485	SH		OTR	ALL	10,485	0	0
Safeway Casa Ley CVR	WARRANTS	786cvr209	84,316	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