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	3,089,881	15,707	SH		OTR	ALL	15,707	0	0
Advance Auto Parts Inc	COMMON STOCKS	00751Y106	2,767,465	20,394	SH		OTR	ALL	20,394	0	0
Aetna Inc	COMMON STOCKS	00817Y108	2,842,965	15,493	SH		OTR	ALL	15,493	0	0
Aflac Inc	COMMON STOCKS	001055102	2,451,795	56,992	SH		OTR	ALL	56,992	0	0
Agilent Technologies	COMMON STOCKS	00846U101	2,089,202	33,784	SH		OTR	ALL	33,784	0	0
Altria Group Inc	COMMON STOCKS	02209s103	624,406	10,995	SH		OTR	ALL	10,995	0	0
American Express Co	COMMON STOCKS	025816109	3,071,124	31,338	SH		OTR	ALL	31,338	0	0
Ameriprise Financial, Inc.	COMMON STOCKS	03076C106	1,973,566	14,109	SH		OTR	ALL	14,109	0	0
Amerisourcebergen Corp Com	COMMON STOCKS	03073E105	2,100,114	24,629	SH		OTR	ALL	24,629	0	0
Ametek Inc.	COMMON STOCKS	031100100	2,297,574	31,840	SH		OTR	ALL	31,840	0	0
Amgen Inc	COMMON STOCKS	031162100	4,442,527	24,067	SH		OTR	ALL	24,067	0	0
Anadarko Pete Corp	COMMON STOCKS	032511107	3,304,527	45,113	SH		OTR	ALL	45,113	0	0
Analog Devices Inc	COMMON STOCKS	032654105	2,666,480	27,799	SH		OTR	ALL	27,799	0	0
Andeavor	COMMON STOCKS	03349M105	2,676,465	20,403	SH		OTR	ALL	20,403	0	0
Applied Materials Inc	COMMON STOCKS	038222105	2,370,932	51,330	SH		OTR	ALL	51,330	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	662,260	40,259	SH		OTR	ALL	40,259	0	0
AT&T Inc	COMMON STOCKS	00206r102	2,014,292	62,731	SH		OTR	ALL	62,731	0	0
Automatic Data Processing Inc.	COMMON STOCKS	053015103	3,116,072	23,230	SH		OTR	ALL	23,230	0	0
Baker Hughes GE Co.	COMMON STOCKS	05722G100	2,458,588	74,435	SH		OTR	ALL	74,435	0	0
Bank of New York Mellon Corp	COMMON STOCKS	064058100	2,722,224	50,477	SH		OTR	ALL	50,477	0	0
BB&T Corp	COMMON STOCKS	054937107	2,546,967	50,495	SH		OTR	ALL	50,495	0	0
BCE Inc	COMMON STOCKS	05534b760	597,753	14,763	SH		OTR	ALL	14,763	0	0
Block H & R Inc	COMMON STOCKS	093671105	1,916,800	84,144	SH		OTR	ALL	84,144	0	0
Boeing Co	COMMON STOCKS	097023105	373,422	1,113	SH		OTR	ALL	1,113	0	0
Broadcom Corp New	COMMON STOCKS	11135f101	689,097	2,840	SH		OTR	ALL	2,840	0	0
CA Inc	COMMON STOCKS	12673P105	2,451,864	68,776	SH		OTR	ALL	68,776	0	0
Campbell Soup Co	COMMON STOCKS	134429109	1,990,027	49,088	SH		OTR	ALL	49,088	0	0
Cardinal Health Inc	COMMON STOCKS	14149Y108	1,745,770	35,752	SH		OTR	ALL	35,752	0	0
Caterpillar Inc	COMMON STOCKS	149123101	2,677,311	19,734	SH		OTR	ALL	19,734	0	0
Centerpoint Energy, Inc.	COMMON STOCKS	15189T107	2,294,886	82,818	SH		OTR	ALL	82,818	0	0
Church & Dwight Co Inc	COMMON STOCKS	171340102	2,431,432	45,738	SH		OTR	ALL	45,738	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	878,801	20,423	SH		OTR	ALL	20,423	0	0
Citigroup Inc	COMMON STOCKS	172967424	3,928,471	58,704	SH		OTR	ALL	58,704	0	0
Citizens Financial Group	COMMON STOCKS	174610105	2,121,839	54,546	SH		OTR	ALL	54,546	0	0
CMS Energy Corp	COMMON STOCKS	125896100	2,386,836	50,483	SH		OTR	ALL	50,483	0	0
Comerica Inc	COMMON STOCKS	200340107	2,353,282	25,883	SH		OTR	ALL	25,883	0	0
Consolidated Edison	COMMON STOCKS	209115104	2,329,964	29,879	SH		OTR	ALL	29,879	0	0
Constellation Brands	COMMON STOCKS	21036P108	2,611,994	11,934	SH		OTR	ALL	11,934	0	0
CSX Corp	COMMON STOCKS	126408103	2,972,339	46,603	SH		OTR	ALL	46,603	0	0
D.R. Horton Inc	COMMON STOCKS	23331A109	1,852,913	45,193	SH		OTR	ALL	45,193	0	0
Deere & Co	COMMON STOCKS	244199105	2,336,197	16,711	SH		OTR	ALL	16,711	0	0
Dentsply Intl Inc	COMMON STOCKS	24906P109	1,560,400	35,650	SH		OTR	ALL	35,650	0	0
Dominion Res Inc Va	COMMON STOCKS	25746U109	323,786	4,749	SH		OTR	ALL	4,749	0	0
Eastman Chem Co	COMMON STOCKS	277432100	2,386,045	23,870	SH		OTR	ALL	23,870	0	0
EQT Midstream Partners LP	COMMON STOCKS	26885b100	238,139	4,616	SH		OTR	ALL	4,616	0	0
Fastenal Co.	COMMON STOCKS	311900104	2,038,498	42,354	SH		OTR	ALL	42,354	0	0
Foot Locker Inc	COMMON STOCKS	344849104	2,546,417	48,365	SH		OTR	ALL	48,365	0	0
Garmin Ltd	COMMON STOCKS	H2906T109	2,334,470	38,270	SH		OTR	ALL	38,270	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	2,852,631	12,933	SH		OTR	ALL	12,933	0	0
Grainger W W Inc	COMMON STOCKS	384802104	3,010,292	9,761	SH		OTR	ALL	9,761	0	0
Halliburton Co	COMMON STOCKS	406216101	2,313,966	51,353	SH		OTR	ALL	51,353	0	0
HUMANA INC	COMMON STOCKS	444859102	2,923,917	9,824	SH		OTR	ALL	9,824	0	0
International Flavors & Fragrances	COMMON STOCKS	459506101	1,849,731	14,922	SH		OTR	ALL	14,922	0	0
Intuit	COMMON STOCKS	461202103	3,266,836	15,990	SH		OTR	ALL	15,990	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	6,948,889	66,688	SH		OTR	ALL	66,688	0	0
JB Hunt	COMMON STOCKS	445658107	2,334,246	19,204	SH		OTR	ALL	19,204	0	0
Johnson & Johnson	COMMON STOCKS	478160104	667,491	5,501	SH		OTR	ALL	5,501	0	0
Johnson Controls Inc	COMMON STOCKS	G51502105	2,218,771	66,331	SH		OTR	ALL	66,331	0	0
Kansas City Southern	COMMON STOCKS	485170302	2,196,974	20,734	SH		OTR	ALL	20,734	0	0
Keycorp	COMMON STOCKS	493267108	2,273,635	116,358	SH		OTR	ALL	116,358	0	0
KINDER MORGAN INC DE	COMMON STOCKS	49456B101	314,154	17,779	SH		OTR	ALL	17,779	0	0
Kla-Tencor Corp	COMMON STOCKS	482480100	2,212,187	21,576	SH		OTR	ALL	21,576	0	0
Kohl's Corp	COMMON STOCKS	500255104	3,643,031	49,973	SH		OTR	ALL	49,973	0	0
Ladder Capitol Corp	COMMON STOCKS	505743104	684,749	43,838	SH		OTR	ALL	43,838	0	0
Lennar Corp - Cl A	COMMON STOCKS	526057104	1,841,857	35,083	SH		OTR	ALL	35,083	0	0
Leucadia National Corp	COMMON STOCKS	47233w109	1,875,367	82,470	SH		OTR	ALL	82,470	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	762,798	6,944	SH		OTR	ALL	6,944	0	0
M & T Bk Corp	COMMON STOCKS	55261F104	2,394,861	14,075	SH		OTR	ALL	14,075	0	0
Marathon Oil Corp	COMMON STOCKS	565849106	2,699,847	129,427	SH		OTR	ALL	129,427	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	2,587,430	36,879	SH		OTR	ALL	36,879	0	0
Marriott Intl Inc	COMMON STOCKS	571903202	2,507,313	19,805	SH		OTR	ALL	19,805	0	0
Mattel Inc	COMMON STOCKS	577081102	2,306,189	140,450	SH		OTR	ALL	140,450	0	0
Merck & Co Inc	COMMON STOCKS	58933Y105	4,193,459	69,085	SH		OTR	ALL	69,085	0	0
Microsoft Corp	COMMON STOCKS	594918104	11,080,411	112,366	SH		OTR	ALL	112,366	0	0
Mosaic Company	COMMON STOCKS	61945C103	2,433,028	86,739	SH		OTR	ALL	86,739	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	449,644	2,692	SH		OTR	ALL	2,692	0	0
Nordstrom Inc	COMMON STOCKS	655664100	2,433,297	46,993	SH		OTR	ALL	46,993	0	0
NRG Energy Inc.	COMMON STOCKS	629377508	2,420,879	78,856	SH		OTR	ALL	78,856	0	0
nVent	COMMON STOCKS	G6700G107	795,720	31,702	SH		OTR	ALL	31,702	0	0
Oneok Inc New	COMMON STOCKS	682680103	732,027	10,483	SH		OTR	ALL	10,483	0	0
Packaging Corp of America	COMMON STOCKS	695156109	2,009,425	17,975	SH		OTR	ALL	17,975	0	0
Paychex Inc	COMMON STOCKS	704326107	3,247,786	47,517	SH		OTR	ALL	47,517	0	0
Pentair PLC	COMMON STOCKS	G7S00T104	1,334,020	31,702	SH		OTR	ALL	31,702	0	0
People's United Financial	COMMON STOCKS	712704105	2,121,269	117,262	SH		OTR	ALL	117,262	0	0
PEPSICO INC	COMMON STOCKS	713448108	715,167	6,569	SH		OTR	ALL	6,569	0	0
Pfizer Inc	COMMON STOCKS	717081103	684,385	18,864	SH		OTR	ALL	18,864	0	0
Philip Morris Intl Inc	COMMON STOCKS	718172109	3,090,888	38,282	SH		OTR	ALL	38,282	0	0
PNC FINANCIAL SERVICES GROUP INC	COMMON STOCKS	693475105	2,706,728	20,035	SH		OTR	ALL	20,035	0	0
Prudential Finl Inc	COMMON STOCKS	744320102	2,147,644	22,967	SH		OTR	ALL	22,967	0	0
Pulte Homes Inc	COMMON STOCKS	745867101	1,888,587	65,690	SH		OTR	ALL	65,690	0	0
Qualcomm Inc	COMMON STOCKS	747525103	2,804,260	49,969	SH		OTR	ALL	49,969	0	0
Range Res Corp	COMMON STOCKS	75281A109	2,167,722	129,571	SH		OTR	ALL	129,571	0	0
Regions Finl Corp	COMMON STOCKS	7591EP100	2,396,121	134,765	SH		OTR	ALL	134,765	0	0
Republic Services Inc	COMMON STOCKS	760759100	2,435,393	35,626	SH		OTR	ALL	35,626	0	0
Rio Tinto PLC - Spon ADR	COMMON STOCKS	767204100	670,031	12,077	SH		OTR	ALL	12,077	0	0
Schwab Charles Corp	COMMON STOCKS	808513105	2,845,452	55,684	SH		OTR	ALL	55,684	0	0
Sealed Air Corp New	COMMON STOCKS	81211K100	1,960,723	46,189	SH		OTR	ALL	46,189	0	0
Sempra Energy	COMMON STOCKS	816851109	2,696,074	23,220	SH		OTR	ALL	23,220	0	0
Six Flags Entertainment	COMMON STOCKS	83001a102	808,657	11,544	SH		OTR	ALL	11,544	0	0
SKYWORKS SOLUTIONS INC	COMMON STOCKS	83088M102	2,278,233	23,572	SH		OTR	ALL	23,572	0	0
SMITH (A.O.) CORP	COMMON STOCKS	831865209	2,136,971	36,128	SH		OTR	ALL	36,128	0	0
SOUTHERN COMPANY	COMMON STOCKS	842587107	2,678,663	57,842	SH		OTR	ALL	57,842	0	0
Starbucks Corp	COMMON STOCKS	855244109	2,571,952	52,650	SH		OTR	ALL	52,650	0	0
Sysco Corp	COMMON STOCKS	871829107	2,812,045	41,178	SH		OTR	ALL	41,178	0	0
Target Corp	COMMON STOCKS	87612E106	2,848,714	37,424	SH		OTR	ALL	37,424	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	4,284,866	38,865	SH		OTR	ALL	38,865	0	0
Thermo Fisher Scientific Inc	COMMON STOCKS	883556102	3,114,349	15,035	SH		OTR	ALL	15,035	0	0
Tjx Cos Inc New	COMMON STOCKS	872540109	3,405,921	35,784	SH		OTR	ALL	35,784	0	0
Total Sys Svcs Inc	COMMON STOCKS	891906109	2,441,022	28,881	SH		OTR	ALL	28,881	0	0
United Parcel Services	COMMON STOCKS	911312106	676,366	6,367	SH		OTR	ALL	6,367	0	0
Unitedhealth Group Inc	COMMON STOCKS	91324P102	5,028,243	20,495	SH		OTR	ALL	20,495	0	0
Unum Group	COMMON STOCKS	91529Y106	1,498,538	40,512	SH		OTR	ALL	40,512	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	4,061,919	36,650	SH		OTR	ALL	36,650	0	0
VF Corp	COMMON STOCKS	918204108	939,110	11,520	SH		OTR	ALL	11,520	0	0
Viacom Inc Cl B	COMMON STOCKS	92553P201	2,384,721	79,069	SH		OTR	ALL	79,069	0	0
Walt Disney Co	COMMON STOCKS	254687106	3,860,781	36,836	SH		OTR	ALL	36,836	0	0
Wells Fargo & Co New	COMMON STOCKS	949746101	5,027,687	90,687	SH		OTR	ALL	90,687	0	0
Western Un Co	COMMON STOCKS	959802109	2,196,595	108,047	SH		OTR	ALL	108,047	0	0
Whirlpool Corp	COMMON STOCKS	963320106	1,996,770	13,655	SH		OTR	ALL	13,655	0	0
Williams Cos Inc Del	COMMON STOCKS	969457100	2,046,181	75,477	SH		OTR	ALL	75,477	0	0
Willis Tower Watson PLC	COMMON STOCKS	G96629103	2,386,790	15,744	SH		OTR	ALL	15,744	0	0
Xilinx Inc	COMMON STOCKS	983919101	2,069,459	31,711	SH		OTR	ALL	31,711	0	0
Xl Group Plc	COMMON STOCKS	G98294104	3,699,302	66,118	SH		OTR	ALL	66,118	0	0
Zions Bancorp	COMMON STOCKS	989701107	2,317,727	43,988	SH		OTR	ALL	43,988	0	0
Arconinc (RTI)	CONVERTIBLE BOND	74973WAB3	962,491	952	SH		OTR	ALL	952	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAM5	2,727,222	2,608	SH		OTR	ALL	2,608	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAT0	1,690,208	1,628	SH		OTR	ALL	1,628	0	0
Booking Holdings Inc	CONVERTIBLE BOND	741503AX4	3,207,844	2,669	SH		OTR	ALL	2,669	0	0
Citrix Inc	CONVERTIBLE BOND	177376AD2	1,931,925	1,328	SH		OTR	ALL	1,328	0	0
CSG Systems International	CONVERTIBLE BOND	126349AF6	2,214,820	2,053	SH		OTR	ALL	2,053	0	0
Deutsche Bank AG London	CONVERTIBLE BOND	25155MKM2	2,879,018	3,103	SH		OTR	ALL	3,103	0	0
Dycom Inc	CONVERTIBLE BOND	267475AB7	1,000,876	859	SH		OTR	ALL	859	0	0
Finisar Corp	CONVERTIBLE BOND	31787AAM3	1,963,600	1,981	SH		OTR	ALL	1,981	0	0
HANNON ARMSTRONG	CONVERTIBLE BOND	41068XAB6	2,332,013	2,353	SH		OTR	ALL	2,353	0	0
Hercules Capital Inc	CONVERTIBLE BOND	427096AF9	2,381,488	2,287	SH		OTR	ALL	2,287	0	0
Illumina Inc	CONVERTIBLE BOND	452327AF6	2,633,153	2,233	SH		OTR	ALL	2,233	0	0
Interdigital Inc	CONVERTIBLE BOND	458660AD9	1,918,050	1,568	SH		OTR	ALL	1,568	0	0
Macquarie Infrastructure Co	CONVERTIBLE BOND	55608BAA3	2,490,556	2,448	SH		OTR	ALL	2,448	0	0
Micron Technology	CONVERTIBLE BOND	595112AY9	2,006,727	1,113	SH		OTR	ALL	1,113	0	0
NXP Semiconductors	CONVERTIBLE BOND	62952QAB6	2,720,900	2,264	SH		OTR	ALL	2,264	0	0
Red Hat Inc	CONVERTIBLE BOND	756577AD4	2,958,764	1,619	SH		OTR	ALL	1,619	0	0
RPM International Inc	CONVERTIBLE BOND	749685AT0	1,908,703	1,579	SH		OTR	ALL	1,579	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAA0	1,861,155	1,857	SH		OTR	ALL	1,857	0	0
Starwood Property Trust	CONVERTIBLE BOND	85571BAH8	1,194,989	1,166	SH		OTR	ALL	1,166	0	0
TCP Capital Corp	CONVERTIBLE BOND	87238QAB9	2,209,059	2,147	SH		OTR	ALL	2,147	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAB8	2,371,267	2,325	SH		OTR	ALL	2,325	0	0
Vereit Inc	CONVERTIBLE BOND	02917TAB0	2,828,571	2,799	SH		OTR	ALL	2,799	0	0
Alexandria Real Estate	CONVERTIBLE PREFERRED STOCK	015271505	1,839,156	51,698	SH		OTR	ALL	51,698	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	1,784,976	30,040	SH		OTR	ALL	30,040	0	0
Assurant Inc	CONVERTIBLE PREFERRED STOCK	04621X207	2,417,655	21,496	SH		OTR	ALL	21,496	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	4,526,972	73,149	SH		OTR	ALL	73,149	0	0
Belden Inc	CONVERTIBLE PREFERRED STOCK	077454205	269,269	3,196	SH		OTR	ALL	3,196	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,792,666	16,569	SH		OTR	ALL	16,569	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	3,762,445	3,505	SH		OTR	ALL	3,505	0	0
Dominion Resources	CONVERTIBLE PREFERRED STOCK	25746U836	3,915,072	84,841	SH		OTR	ALL	84,841	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	321,223	9,198	SH		OTR	ALL	9,198	0	0
Hess Corp	CONVERTIBLE PREFERRED STOCK	42809H404	2,380,860	31,628	SH		OTR	ALL	31,628	0	0
Nabors Industries	CONVERTIBLE PREFERRED STOCK	G6359F129	443,965	9,715	SH		OTR	ALL	9,715	0	0
Rayonier	CONVERTIBLE PREFERRED STOCK	75508B203	190,521	1,562	SH		OTR	ALL	1,562	0	0
Sempra Energy	CONVERTIBLE PREFERRED STOCK	816851406	2,598,170	25,223	SH		OTR	ALL	25,223	0	0
South Jersey Industries	CONVERTIBLE PREFERRED STOCK	838518116	1,761,149	32,119	SH		OTR	ALL	32,119	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502887	3,267,935	31,224	SH		OTR	ALL	31,224	0	0
Stericycle Inc	CONVERTIBLE PREFERRED STOCK	858912207	1,356,650	27,645	SH		OTR	ALL	27,645	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	2,899,950	2,301	SH		OTR	ALL	2,301	0	0
Welltower Inc Pfd	CONVERTIBLE PREFERRED STOCK	95040Q203	2,088,792	34,663	SH		OTR	ALL	34,663	0	0
Financial Select Sector SPDR Fund	EXCHANGE TRADED FUND	81369Y605	135,715	5,104	SH		OTR	ALL	5,104	0	0
Global X MSCI Norway ETF	EXCHANGE TRADED FUND	37950E747	488,357	34,127	SH		OTR	ALL	34,127	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	46090A887	112,308	2,235	SH		OTR	ALL	2,235	0	0
iShares 0-5 Year Investment Grade Corporate Bond	EXCHANGE TRADED FUND	46434V100	493,123	9,936	SH		OTR	ALL	9,936	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	434,814	4,193	SH		OTR	ALL	4,193	0	0
iShares Convertible Bond ETF	EXCHANGE TRADED FUND	46435G102	118,363	2,051	SH		OTR	ALL	2,051	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	445,298	16,041	SH		OTR	ALL	16,041	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	605,115	11,865	SH		OTR	ALL	11,865	0	0
iShares GNMA Bond Fund	EXCHANGE TRADED FUND	46429B333	86,512	1,788	SH		OTR	ALL	1,788	0	0
iShares High Yield Hedged	EXCHANGE TRADED FUND	46431W606	58,223	643	SH		OTR	ALL	643	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	290,037	3,409	SH		OTR	ALL	3,409	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	216,651	1,891	SH		OTR	ALL	1,891	0	0
iShares Interest Rate Hedged 10 plus Year	EXCHANGE TRADED FUND	46431W812	119,414	4,661	SH		OTR	ALL	4,661	0	0
iShares Lehman 1-3 Tr	EXCHANGE TRADED FUND	464287457	110,381	1,324	SH		OTR	ALL	1,324	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	470,268	4,514	SH		OTR	ALL	4,514	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	493,538	16,171	SH		OTR	ALL	16,171	0	0
ISHARES MSCI HONG KONG ETF	EXCHANGE TRADED FUND	464286871	485,483	20,053	SH		OTR	ALL	20,053	0	0
ISHARES MSCI INDIA INDEX ETF	EXCHANGE TRADED FUND	46429b598	500,082	15,022	SH		OTR	ALL	15,022	0	0
ISHARES MSCI SINGAPORE CAPPED ETF	EXCHANGE TRADED FUND	46434g780	450,076	18,761	SH		OTR	ALL	18,761	0	0
ISHARES MSCI TAIWAN CAPPED ETF	EXCHANGE TRADED FUND	46434g772	469,656	13,046	SH		OTR	ALL	13,046	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	22,574	200	SH		OTR	ALL	200	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	514,075	1,895	SH		OTR	ALL	1,895	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	109,886	1,407	SH		OTR	ALL	1,407	0	0
Carlyle Group LP	PREFERRED STOCK	14309L201	305,618	12,994	SH		OTR	ALL	12,994	0	0
Citigroup Inc	PREFERRED STOCK	172967358	291,359	10,507	SH		OTR	ALL	10,507	0	0
Digital Realty Trust Inc	PREFERRED STOCK	253868871	311,386	11,958	SH		OTR	ALL	11,958	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	303,589	11,088	SH		OTR	ALL	11,088	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	304,751	12,017	SH		OTR	ALL	12,017	0	0
Crown Castle Intl Corp	REITS - usd	22822V101	366,156	3,396	SH		OTR	ALL	3,396	0	0
W P Carey Inc	REITS - usd	92936u109	682,741	10,290	SH		OTR	ALL	10,290	0	0