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
3M COMPANY	COMMON STOCKS	88579Y101	3,448,000	15,707	SH		OTR	ALL	15,707	0	0
Advance Auto Parts Inc	COMMON STOCKS	00751Y106	2,417,708	20,394	SH		OTR	ALL	20,394	0	0
Aetna Inc	COMMON STOCKS	00817Y108	2,618,317	15,493	SH		OTR	ALL	15,493	0	0
Aflac Inc	COMMON STOCKS	001055102	2,493,969	56,992	SH		OTR	ALL	56,992	0	0
Agilent Technologies	COMMON STOCKS	00846U101	2,260,149	33,784	SH		OTR	ALL	33,784	0	0
Altria Group Inc	COMMON STOCKS	02209s103	693,310	11,125	SH		OTR	ALL	11,125	0	0
American Express Co	COMMON STOCKS	025816109	2,923,208	31,338	SH		OTR	ALL	31,338	0	0
Ameriprise Financial, Inc.	COMMON STOCKS	03076C106	2,087,285	14,109	SH		OTR	ALL	14,109	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	2,123,266	24,629	SH		OTR	ALL	24,629	0	0
Ametek Inc.	COMMON STOCKS	031100100	2,418,884	31,840	SH		OTR	ALL	31,840	0	0
Amgen Inc	COMMON STOCKS	031162100	4,123,399	24,187	SH		OTR	ALL	24,187	0	0
Anadarko Pete Corp	COMMON STOCKS	032511107	2,725,276	45,113	SH		OTR	ALL	45,113	0	0
Analog Devices Inc	COMMON STOCKS	032654105	2,533,322	27,799	SH		OTR	ALL	27,799	0	0
Andeavor	COMMON STOCKS	03349M105	2,051,725	20,403	SH		OTR	ALL	20,403	0	0
Applied Materials Inc	COMMON STOCKS	038222105	2,854,461	51,330	SH		OTR	ALL	51,330	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	657,129	41,407	SH		OTR	ALL	41,407	0	0
AT&T Inc	COMMON STOCKS	00206r102	598,064	16,776	SH		OTR	ALL	16,776	0	0
Automatic Data Processing Inc.	COMMON STOCKS	053015103	2,636,140	23,230	SH		OTR	ALL	23,230	0	0
Baker Hughes GE Co.	COMMON STOCKS	05722G100	2,067,059	74,435	SH		OTR	ALL	74,435	0	0
Bank of New York Mellon Corp	COMMON STOCKS	064058100	2,601,079	50,477	SH		OTR	ALL	50,477	0	0
BB&T Corp	COMMON STOCKS	054937107	2,627,759	50,495	SH		OTR	ALL	50,495	0	0
BCE Inc	COMMON STOCKS	05534b760	642,285	14,923	SH		OTR	ALL	14,923	0	0
Block H & R Inc	COMMON STOCKS	093671105	2,138,099	84,144	SH		OTR	ALL	84,144	0	0
Boeing Co	COMMON STOCKS	097023105	376,406	1,148	SH		OTR	ALL	1,148	0	0
CA Inc	COMMON STOCKS	12673P105	2,331,506	68,776	SH		OTR	ALL	68,776	0	0
Campbell Soup Co	COMMON STOCKS	134429109	2,126,001	49,088	SH		OTR	ALL	49,088	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	2,240,935	35,752	SH		OTR	ALL	35,752	0	0
Caterpillar Inc	COMMON STOCKS	149123101	2,908,396	19,734	SH		OTR	ALL	19,734	0	0
Centerpoint Energy, Inc.	COMMON STOCKS	15189T107	2,269,213	82,818	SH		OTR	ALL	82,818	0	0
Church & Dwight Co Inc	COMMON STOCKS	171340102	2,303,365	45,738	SH		OTR	ALL	45,738	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	900,346	20,992	SH		OTR	ALL	20,992	0	0
Citigroup Inc	COMMON STOCKS	172967424	3,962,520	58,704	SH		OTR	ALL	58,704	0	0
Citizens Financial Group	COMMON STOCKS	174610105	2,289,841	54,546	SH		OTR	ALL	54,546	0	0
CMS Energy Corp	COMMON STOCKS	125896100	2,286,375	50,483	SH		OTR	ALL	50,483	0	0
Comerica Inc	COMMON STOCKS	200340107	2,482,956	25,883	SH		OTR	ALL	25,883	0	0
Consolidated Edison	COMMON STOCKS	209115104	2,328,769	29,879	SH		OTR	ALL	29,879	0	0
Constellation Brands	COMMON STOCKS	21036P108	2,719,997	11,934	SH		OTR	ALL	11,934	0	0
CSX Corp	COMMON STOCKS	126408103	2,596,253	46,603	SH		OTR	ALL	46,603	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	1,981,261	45,193	SH		OTR	ALL	45,193	0	0
Deere & Co	COMMON STOCKS	244199105	2,595,552	16,711	SH		OTR	ALL	16,711	0	0
Dentsply Intl Inc	COMMON STOCKS	24906P109	1,793,551	35,650	SH		OTR	ALL	35,650	0	0
Dominion Res Inc Va	COMMON STOCKS	25746U109	330,069	4,895	SH		OTR	ALL	4,895	0	0
Eastman Chem Co	COMMON STOCKS	277432100	2,520,194	23,870	SH		OTR	ALL	23,870	0	0
EQT Midstream Partners LP	COMMON STOCKS	26885b100	272,718	4,620	SH		OTR	ALL	4,620	0	0
Fastenal Co.	COMMON STOCKS	311900104	2,312,104	42,354	SH		OTR	ALL	42,354	0	0
Foot Locker Inc	COMMON STOCKS	344849104	2,202,542	48,365	SH		OTR	ALL	48,365	0	0
Garmin Ltd	COMMON STOCKS	H2906T109	2,255,251	38,270	SH		OTR	ALL	38,270	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	3,257,305	12,933	SH		OTR	ALL	12,933	0	0
Grainger W W Inc	COMMON STOCKS	384802104	2,755,237	9,761	SH		OTR	ALL	9,761	0	0
Halliburton Co	COMMON STOCKS	406216101	2,410,509	51,353	SH		OTR	ALL	51,353	0	0
HUMANA INC	COMMON STOCKS	444859102	2,640,985	9,824	SH		OTR	ALL	9,824	0	0
International Flavors & Fragrances	COMMON STOCKS	459506101	2,042,971	14,922	SH		OTR	ALL	14,922	0	0
Intuit	COMMON STOCKS	461202103	2,771,866	15,990	SH		OTR	ALL	15,990	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	7,357,762	66,907	SH		OTR	ALL	66,907	0	0
JB Hunt	COMMON STOCKS	445658107	2,249,748	19,204	SH		OTR	ALL	19,204	0	0
Johnson & Johnson	COMMON STOCKS	478160104	719,690	5,616	SH		OTR	ALL	5,616	0	0
Johnson Controls Inc	COMMON STOCKS	G51502105	2,337,504	66,331	SH		OTR	ALL	66,331	0	0
Kansas City Southern	COMMON STOCKS	485170302	2,277,629	20,734	SH		OTR	ALL	20,734	0	0
Keycorp	COMMON STOCKS	493267108	2,274,798	116,358	SH		OTR	ALL	116,358	0	0
KINDER MORGAN INC DE	COMMON STOCKS	49456B101	251,758	16,717	SH		OTR	ALL	16,717	0	0
Kla-Tencor Corp	COMMON STOCKS	482480100	2,351,999	21,576	SH		OTR	ALL	21,576	0	0
Kohl's Corp	COMMON STOCKS	500255104	3,292,074	50,253	SH		OTR	ALL	50,253	0	0
Ladder Capitol Corp	COMMON STOCKS	505743104	679,399	45,053	SH		OTR	ALL	45,053	0	0
Lennar Corp - Cl A	COMMON STOCKS	526057104	2,067,792	35,083	SH		OTR	ALL	35,083	0	0
Leucadia National Corp	COMMON STOCKS	527288104	1,874,543	82,470	SH		OTR	ALL	82,470	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	754,977	7,144	SH		OTR	ALL	7,144	0	0
M & T Bk Corp	COMMON STOCKS	55261F104	2,594,867	14,075	SH		OTR	ALL	14,075	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	2,087,657	129,427	SH		OTR	ALL	129,427	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	2,696,223	36,879	SH		OTR	ALL	36,879	0	0
Marriott Intl Inc	COMMON STOCKS	571903202	2,693,083	19,805	SH		OTR	ALL	19,805	0	0
Mattel Inc	COMMON STOCKS	577081102	1,846,917	140,450	SH		OTR	ALL	140,450	0	0
Merck & Co Inc	COMMON STOCKS	58933Y105	3,763,059	69,085	SH		OTR	ALL	69,085	0	0
Microsoft Corp	COMMON STOCKS	594918104	11,045,769	121,023	SH		OTR	ALL	121,023	0	0
Mosaic Company	COMMON STOCKS	61945C103	2,106,022	86,739	SH		OTR	ALL	86,739	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	452,914	2,773	SH		OTR	ALL	2,773	0	0
Nordstrom Inc	COMMON STOCKS	655664100	2,274,931	46,993	SH		OTR	ALL	46,993	0	0
NRG Energy Inc.	COMMON STOCKS	629377508	2,407,473	78,856	SH		OTR	ALL	78,856	0	0
Oneok Inc New	COMMON STOCKS	682680103	613,085	10,771	SH		OTR	ALL	10,771	0	0
Packaging Corp of America	COMMON STOCKS	695156109	2,025,782	17,975	SH		OTR	ALL	17,975	0	0
Paychex Inc	COMMON STOCKS	704326107	2,939,875	47,733	SH		OTR	ALL	47,733	0	0
Pentair PLC	COMMON STOCKS	G7S00T104	2,159,857	31,702	SH		OTR	ALL	31,702	0	0
People's United Financial	COMMON STOCKS	712704105	2,188,108	117,262	SH		OTR	ALL	117,262	0	0
Pfizer Inc	COMMON STOCKS	717081103	687,228	19,364	SH		OTR	ALL	19,364	0	0
Philip Morris Intl Inc	COMMON STOCKS	718172109	3,805,230	38,282	SH		OTR	ALL	38,282	0	0
PNC FINANCIAL SERVICES GROUP INC	COMMON STOCKS	693475105	3,030,093	20,035	SH		OTR	ALL	20,035	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	2,378,232	22,967	SH		OTR	ALL	22,967	0	0
Pulte Homes Inc	COMMON STOCKS	745867101	1,937,198	65,690	SH		OTR	ALL	65,690	0	0
Qualcomm Inc	COMMON STOCKS	747525103	2,768,782	49,969	SH		OTR	ALL	49,969	0	0
Range Res Corp	COMMON STOCKS	75281A109	1,883,962	129,571	SH		OTR	ALL	129,571	0	0
Regions Finl Corp	COMMON STOCKS	7591EP100	2,503,933	134,765	SH		OTR	ALL	134,765	0	0
Republic Services Inc	COMMON STOCKS	760759100	2,359,509	35,626	SH		OTR	ALL	35,626	0	0
Rio Tinto PLC - Spon ADR	COMMON STOCKS	767204100	637,580	12,373	SH		OTR	ALL	12,373	0	0
Schwab Charles Corp	COMMON STOCKS	808513105	2,907,818	55,684	SH		OTR	ALL	55,684	0	0
Sealed Air Corp New	COMMON STOCKS	81211K100	1,976,427	46,189	SH		OTR	ALL	46,189	0	0
Sempra Energy	COMMON STOCKS	816851109	2,582,528	23,220	SH		OTR	ALL	23,220	0	0
Six Flags Entertainment	COMMON STOCKS	83001a102	737,905	11,852	SH		OTR	ALL	11,852	0	0
SKYWORKS SOLUTIONS INC	COMMON STOCKS	83088M102	2,363,328	23,572	SH		OTR	ALL	23,572	0	0
SMITH (A.O.) CORP	COMMON STOCKS	831865209	2,297,379	36,128	SH		OTR	ALL	36,128	0	0
SOUTHERN COMPANY	COMMON STOCKS	842587107	2,583,223	57,842	SH		OTR	ALL	57,842	0	0
Starbucks Corp	COMMON STOCKS	855244109	3,047,908	52,650	SH		OTR	ALL	52,650	0	0
Sysco Corp	COMMON STOCKS	871829107	2,469,032	41,178	SH		OTR	ALL	41,178	0	0
Target Corp	COMMON STOCKS	87612E106	2,598,348	37,424	SH		OTR	ALL	37,424	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	4,063,034	39,109	SH		OTR	ALL	39,109	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	3,104,126	15,035	SH		OTR	ALL	15,035	0	0
Time Warner Inc	COMMON STOCKS	887317303	3,052,947	32,279	SH		OTR	ALL	32,279	0	0
Tjx Cos Inc New	COMMON STOCKS	872540109	2,918,543	35,784	SH		OTR	ALL	35,784	0	0
Total Sys Svcs Inc	COMMON STOCKS	891906109	2,491,275	28,881	SH		OTR	ALL	28,881	0	0
United Parcel Services	COMMON STOCKS	911312106	682,697	6,523	SH		OTR	ALL	6,523	0	0
Unitedhealth Group Inc	COMMON STOCKS	91324P102	4,385,930	20,495	SH		OTR	ALL	20,495	0	0
Unum Group	COMMON STOCKS	91529Y106	1,928,776	40,512	SH		OTR	ALL	40,512	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	3,422,285	36,890	SH		OTR	ALL	36,890	0	0
VF Corp	COMMON STOCKS	918204108	878,544	11,853	SH		OTR	ALL	11,853	0	0
Viacom Inc Cl B	COMMON STOCKS	92553P201	2,455,883	79,069	SH		OTR	ALL	79,069	0	0
Walt Disney Co	COMMON STOCKS	254687106	3,699,807	36,836	SH		OTR	ALL	36,836	0	0
Wells Fargo & Co New	COMMON STOCKS	949746101	4,752,905	90,687	SH		OTR	ALL	90,687	0	0
Western Un Co	COMMON STOCKS	959802109	2,077,743	108,047	SH		OTR	ALL	108,047	0	0
Whirlpool Corp	COMMON STOCKS	963320106	2,090,717	13,655	SH		OTR	ALL	13,655	0	0
Williams Cos Inc Del	COMMON STOCKS	969457100	1,876,358	75,477	SH		OTR	ALL	75,477	0	0
Willis Tower Watson PLC	COMMON STOCKS	G96629103	2,396,079	15,744	SH		OTR	ALL	15,744	0	0
Xilinx Inc	COMMON STOCKS	983919101	2,290,802	31,711	SH		OTR	ALL	31,711	0	0
Xl Group Plc	COMMON STOCKS	G98294104	3,653,680	66,118	SH		OTR	ALL	66,118	0	0
Zions Bancorp	COMMON STOCKS	989701107	2,319,487	43,988	SH		OTR	ALL	43,988	0	0
Arconinc (RTI)	CONVERTIBLE BOND	74973WAB3	1,130,383	1,059	SH		OTR	ALL	1,059	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAM5	3,051,073	2,955	SH		OTR	ALL	2,955	0	0
Booking Holdings Inc	CONVERTIBLE BOND	741503AX4	3,752,289	3,002	SH		OTR	ALL	3,002	0	0
Citrix Inc	CONVERTIBLE BOND	177376AD2	2,019,479	1,526	SH		OTR	ALL	1,526	0	0
Deutsche Bank AG London	CONVERTIBLE BOND	25155MKM2	1,479,929	1,451	SH		OTR	ALL	1,451	0	0
Dycom Inc	CONVERTIBLE BOND	267475AB7	1,219,350	960	SH		OTR	ALL	960	0	0
Finisar Corp	CONVERTIBLE BOND	31787AAM3	2,207,859	2,232	SH		OTR	ALL	2,232	0	0
HANNON ARMSTRONG	CONVERTIBLE BOND	41068XAB6	1,483,999	1,534	SH		OTR	ALL	1,534	0	0
Hercules Capital Inc	CONVERTIBLE BOND	427096AF9	2,637,729	2,567	SH		OTR	ALL	2,567	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	2,832,294	2,555	SH		OTR	ALL	2,555	0	0
Janus Capital	CONVERTIBLE BOND	47102XAH8	1,169,995	783	SH		OTR	ALL	783	0	0
Lam Research Corp	CONVERTIBLE BOND	512807AL2	8,571,595	2,527	SH		OTR	ALL	2,527	0	0
Macquarie Infrastructure Co	CONVERTIBLE BOND	55608BAA3	2,768,670	2,758	SH		OTR	ALL	2,758	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	2,258,066	1,243	SH		OTR	ALL	1,243	0	0
NXP Semiconductors	CONVERTIBLE BOND	62952QAB6	3,189,937	2,554	SH		OTR	ALL	2,554	0	0
Red Hat Inc	CONVERTIBLE BOND	756577AD4	3,756,036	1,850	SH		OTR	ALL	1,850	0	0
RPM International Inc	CONVERTIBLE BOND	749685AT0	2,024,910	1,778	SH		OTR	ALL	1,778	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAA0	2,125,693	2,088	SH		OTR	ALL	2,088	0	0
Starwood Property Trust	CONVERTIBLE BOND	85571BAH8	1,363,081	1,298	SH		OTR	ALL	1,298	0	0
TCP Capital Corp	CONVERTIBLE BOND	87238QAB9	2,487,585	2,341	SH		OTR	ALL	2,341	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAB8	2,706,983	2,577	SH		OTR	ALL	2,577	0	0
VEREIT	CONVERTIBLE BOND	02917TAA2	2,334,029	2,309	SH		OTR	ALL	2,309	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	2,125,356	58,553	SH		OTR	ALL	58,553	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	2,099,737	33,675	SH		OTR	ALL	33,675	0	0
Anadarko Petroleum Corp	CONVERTIBLE PREFERRED STOCK	032511404	1,812,142	60,623	SH		OTR	ALL	60,623	0	0
Anthem Inc	CONVERTIBLE PREFERRED STOCK	036752202	4,555,897	84,753	SH		OTR	ALL	84,753	0	0
Assurant Inc	CONVERTIBLE PREFERRED STOCK	04621X207	2,145,384	20,680	SH		OTR	ALL	20,680	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	4,755,307	81,653	SH		OTR	ALL	81,653	0	0
Belden Inc	CONVERTIBLE PREFERRED STOCK	077454205	303,148	3,250	SH		OTR	ALL	3,250	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	2,017,432	18,554	SH		OTR	ALL	18,554	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	4,428,106	3,969	SH		OTR	ALL	3,969	0	0
Dominion Resources	CONVERTIBLE PREFERRED STOCK	25746U836	4,393,157	94,674	SH		OTR	ALL	94,674	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	328,869	9,434	SH		OTR	ALL	9,434	0	0
Hess Corp	CONVERTIBLE PREFERRED STOCK	42809H404	2,096,519	35,107	SH		OTR	ALL	35,107	0	0
Rayonier	CONVERTIBLE PREFERRED STOCK	75508B203	239,695	1,595	SH		OTR	ALL	1,595	0	0
Sempra Energy	CONVERTIBLE PREFERRED STOCK	816851406	2,851,118	27,907	SH		OTR	ALL	27,907	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502887	3,227,961	28,079	SH		OTR	ALL	28,079	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	1,426,587	31,508	SH		OTR	ALL	31,508	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,330,101	2,589	SH		OTR	ALL	2,589	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	2,121,333	38,014	SH		OTR	ALL	38,014	0	0
Alerian MLP ETF	EXCHANGE TRADED FUND	00162Q866	20,004	2,135	SH		OTR	ALL	2,135	0	0
Financial Select Sector SPDR Fund	EXCHANGE TRADED FUND	81369Y605	140,717	5,104	SH		OTR	ALL	5,104	0	0
Global X MSCI Norway ETF	EXCHANGE TRADED FUND	37950E747	435,531	31,652	SH		OTR	ALL	31,652	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	73935B797	112,264	2,235	SH		OTR	ALL	2,235	0	0
iShares 0-5 Year Investment Grade Corporate Bond	EXCHANGE TRADED FUND	46434V100	508,591	10,225	SH		OTR	ALL	10,225	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	453,502	4,369	SH		OTR	ALL	4,369	0	0
iShares Convertible Bond ETF	EXCHANGE TRADED FUND	46435G102	122,664	2,178	SH		OTR	ALL	2,178	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	407,438	14,870	SH		OTR	ALL	14,870	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	622,822	12,229	SH		OTR	ALL	12,229	0	0
iShares GNMA Bond Fund	EXCHANGE TRADED FUND	46429B333	86,882	1,788	SH		OTR	ALL	1,788	0	0
iShares High Yield Hedged	EXCHANGE TRADED FUND	46431W606	58,236	643	SH		OTR	ALL	643	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	300,596	3,510	SH		OTR	ALL	3,510	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	229,967	1,959	SH		OTR	ALL	1,959	0	0
iShares Interest Rate Hedged 10plus Year	EXCHANGE TRADED FUND	46431W812	122,304	4,661	SH		OTR	ALL	4,661	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	110,633	1,324	SH		OTR	ALL	1,324	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	482,808	4,614	SH		OTR	ALL	4,614	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	470,780	14,993	SH		OTR	ALL	14,993	0	0
ISHARES MSCI HONG KONG ETF	EXCHANGE TRADED FUND	464286871	470,512	18,590	SH		OTR	ALL	18,590	0	0
ISHARES MSCI INDIA INDEX ETF	EXCHANGE TRADED FUND	46429b598	475,294	13,926	SH		OTR	ALL	13,926	0	0
ISHARES MSCI SINGAPORE CAPPED ETF	EXCHANGE TRADED FUND	46434g780	463,844	17,392	SH		OTR	ALL	17,392	0	0
ISHARES MSCI TAIWAN CAPPED ETF	EXCHANGE TRADED FUND	46434g772	463,683	12,094	SH		OTR	ALL	12,094	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	22,610	200	SH		OTR	ALL	200	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	483,932	1,839	SH		OTR	ALL	1,839	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	110,351	1,407	SH		OTR	ALL	1,407	0	0
Carlyle Group LP	PREFERRED STOCK	14309L201	320,527	13,322	SH		OTR	ALL	13,322	0	0
Citigroup Inc	PREFERRED STOCK	172967358	306,905	10,746	SH		OTR	ALL	10,746	0	0
Digital Realty Trust Inc	PREFERRED STOCK	253868871	322,420	12,264	SH		OTR	ALL	12,264	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	318,476	11,362	SH		OTR	ALL	11,362	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	310,600	12,301	SH		OTR	ALL	12,301	0	0
Crown Castle Intl Corp	REITS - usd	22822V101	383,963	3,503	SH		OTR	ALL	3,503	0	0
Omega Healthcare Investors Inc	REITS - usd	681936100	513,138	18,977	SH		OTR	ALL	18,977	0	0
W P Carey Inc	REITS - usd	92936u109	655,544	10,575	SH		OTR	ALL	10,575	0	0
Safeway PDC, LLC CVR	WARRANTS	786cvr308	4,090	83,481	SH		OTR	ALL	83,481	0	0