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
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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
3M COMPANY	COMMON STOCKS	88579Y101	4,603	28	SH		SOLE	0	28	0	0
Abbott Laboratories	COMMON STOCKS	002824100	2,342	28	SH		SOLE	0	28	0	0
Abbvie Inc	COMMON STOCKS	00287Y109	599,399	7,916	SH		SOLE	0	7,916	0	0
Altria Group Inc	COMMON STOCKS	02209s103	488,305	11,939	SH		SOLE	0	11,939	0	0
Amgen Inc	COMMON STOCKS	031162100	725,662	3,750	SH		SOLE	0	3,750	0	0
Apple Computer Inc	COMMON STOCKS	037833100	24,636	110	SH		SOLE	0	110	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	696,054	37,352	SH		SOLE	0	37,352	0	0
AT&T Inc	COMMON STOCKS	00206r102	664,319	17,556	SH		SOLE	0	17,556	0	0
Bank of N.T. Butterfield & Son Limited	COMMON STOCKS	G0772R208	360,718	12,170	SH		SOLE	0	12,170	0	0
BCE Inc	COMMON STOCKS	05534b760	710,900	14,685	SH		SOLE	0	14,685	0	0
Blackrock Inc	COMMON STOCKS	09247X101	3,565	8	SH		SOLE	0	8	0	0
Boeing Co	COMMON STOCKS	097023105	5,707	15	SH		SOLE	0	15	0	0
Broadcom Corp New	COMMON STOCKS	11135f101	686,033	2,485	SH		SOLE	0	2,485	0	0
CHEVRON CORP	COMMON STOCKS	166764100	5,574	47	SH		SOLE	0	47	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	642,922	13,012	SH		SOLE	0	13,012	0	0
COCA-COLA COMPANY	COMMON STOCKS	191216100	6,478	119	SH		SOLE	0	119	0	0
Cracker Barrel	COMMON STOCKS	22410J106	704,599	4,332	SH		SOLE	0	4,332	0	0
Crown Castle Intl Corp	COMMON STOCKS	22822V101	446,917	3,215	SH		SOLE	0	3,215	0	0
Dominion Res Inc Va	COMMON STOCKS	25746U109	424,892	5,243	SH		SOLE	0	5,243	0	0
Eaton Corp	COMMON STOCKS	G29183103	391,969	4,714	SH		SOLE	0	4,714	0	0
Home Depot Inc	COMMON STOCKS	437076102	7,192	31	SH		SOLE	0	31	0	0
INTEL CORP	COMMON STOCKS	458140100	4,792	93	SH		SOLE	0	93	0	0
International Paper Co	COMMON STOCKS	460146103	2,801	67	SH		SOLE	0	67	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	812,884	6,907	SH		SOLE	0	6,907	0	0
Johnson & Johnson	COMMON STOCKS	478160104	615,201	4,755	SH		SOLE	0	4,755	0	0
KINDER MORGAN INC DE	COMMON STOCKS	49456B101	334,830	16,246	SH		SOLE	0	16,246	0	0
Kohl's Corp	COMMON STOCKS	500255104	503,999	10,149	SH		SOLE	0	10,149	0	0
Ladder Capitol Corp	COMMON STOCKS	505743104	697,224	40,372	SH		SOLE	0	40,372	0	0
Legg Mason Inc	COMMON STOCKS	524901105	775,104	20,296	SH		SOLE	0	20,296	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	623,605	6,970	SH		SOLE	0	6,970	0	0
Magellan Midstream	COMMON STOCKS	559080106	355,936	5,371	SH		SOLE	0	5,371	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	2,308	38	SH		SOLE	0	38	0	0
McDonalds Corp	COMMON STOCKS	580135101	5,797	27	SH		SOLE	0	27	0	0
Medtronic Inc	COMMON STOCKS	G5960L103	5,105	47	SH		SOLE	0	47	0	0
Microsoft Corp	COMMON STOCKS	594918104	6,395	46	SH		SOLE	0	46	0	0
Morgan Stanley	COMMON STOCKS	617446448	3,584	84	SH		SOLE	0	84	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	468,076	2,009	SH		SOLE	0	2,009	0	0
Oneok Inc New	COMMON STOCKS	682680103	722,088	9,799	SH		SOLE	0	9,799	0	0
PEPSICO INC	COMMON STOCKS	713448108	775,711	5,658	SH		SOLE	0	5,658	0	0
Proctor & Gamble Co	COMMON STOCKS	742718109	3,482	28	SH		SOLE	0	28	0	0
Rio Tinto PLC - Spon ADR	COMMON STOCKS	767204100	601,014	11,538	SH		SOLE	0	11,538	0	0
Smucker J M Co	COMMON STOCKS	832696405	688,175	6,255	SH		SOLE	0	6,255	0	0
Starbucks Corp	COMMON STOCKS	855244109	5,747	65	SH		SOLE	0	65	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	4,113	36	SH		SOLE	0	36	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	807,750	6,250	SH		SOLE	0	6,250	0	0
United Parcel Services	COMMON STOCKS	911312106	732,938	6,117	SH		SOLE	0	6,117	0	0
United Technologies	COMMON STOCKS	913017109	5,597	41	SH		SOLE	0	41	0	0
US Bancorp	COMMON STOCKS	902973304	5,478	99	SH		SOLE	0	99	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	616,967	7,238	SH		SOLE	0	7,238	0	0
Verizon Communications	COMMON STOCKS	92343V104	3,018	50	SH		SOLE	0	50	0	0
Wal-Mart Stores Inc	COMMON STOCKS	931142103	6,764	57	SH		SOLE	0	57	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAW3	2,762,812	2,591	SH		SOLE	0	2,591	0	0
Blackrock TCP Cap	CONVERTIBLE BOND	87238QAD5	2,645,680	2,557	SH		SOLE	0	2,557	0	0
Booking Holdings Inc	CONVERTIBLE BOND	741503AX4	3,016,537	2,598	SH		SOLE	0	2,598	0	0
CSG Systems International	CONVERTIBLE BOND	126349AF6	2,246,722	1,979	SH		SOLE	0	1,979	0	0
Cypress Semiconductor Co	CONVERTIBLE BOND	232806AP4	1,366,819	1,121	SH		SOLE	0	1,121	0	0
Deutsche Bank AG London/VOYA	CONVERTIBLE BOND	25155MKM2	2,994,230	2,968	SH		SOLE	0	2,968	0	0
Dycom Inc	CONVERTIBLE BOND	267475AB7	951,819	994	SH		SOLE	0	994	0	0
Greenbrier Cos Inc	CONVERTIBLE BOND	393657AK7	1,462,471	1,513	SH		SOLE	0	1,513	0	0
HANNON ARMSTRONG	CONVERTIBLE BOND	41068XAB6	2,565,834	2,271	SH		SOLE	0	2,271	0	0
Hercules Capital Inc	CONVERTIBLE BOND	427096AF9	2,308,355	2,212	SH		SOLE	0	2,212	0	0
ILLUMINA INC	CONVERTIBLE BOND	452327AH2	2,917,654	2,192	SH		SOLE	0	2,192	0	0
Interdigital Inc	CONVERTIBLE BOND	458660AD9	1,773,075	1,772	SH		SOLE	0	1,772	0	0
New Mountain Finance	CONVERTIBLE BOND	647551AC4	2,488,004	2,352	SH		SOLE	0	2,352	0	0
NXP Semiconductors	CONVERTIBLE BOND	62952QAB6	2,383,272	2,172	SH		SOLE	0	2,172	0	0
ON Semiconductor Corp	CONVERTIBLE BOND	682189AP0	1,926,120	1,579	SH		SOLE	0	1,579	0	0
Palo Alto Networks	CONVERTIBLE BOND	697435ad7	623,231	588	SH		SOLE	0	588	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAB8	2,283,182	2,164	SH		SOLE	0	2,164	0	0
Starwood Property Trust	CONVERTIBLE BOND	85571BAH8	1,231,358	1,142	SH		SOLE	0	1,142	0	0
Synaptics Inc	CONVERTIBLE BOND	87157DAD1	1,441,296	1,540	SH		SOLE	0	1,540	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAD4	2,805,724	2,633	SH		SOLE	0	2,633	0	0
Vereit Inc	CONVERTIBLE BOND	02917TAB0	2,789,221	2,692	SH		SOLE	0	2,692	0	0
Verint Systems Inc	CONVERTIBLE BOND	92343XAA8	1,609,365	1,578	SH		SOLE	0	1,578	0	0
American Electric Power	CONVERTIBLE PREFERRED STOCK	025537127	883,504	16,000	SH		SOLE	0	16,000	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	1,415,845	29,400	SH		SOLE	0	29,400	0	0
Assurant Inc	CONVERTIBLE PREFERRED STOCK	04621X207	2,595,057	20,702	SH		SOLE	0	20,702	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	4,173,282	67,386	SH		SOLE	0	67,386	0	0
Broadcom Inc	CONVERTIBLE PREFERRED STOCK	11135F200	1,771,136	1,725	SH		SOLE	0	1,725	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,632,121	16,100	SH		SOLE	0	16,100	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T503	2,988,571	57,085	SH		SOLE	0	57,085	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	4,134,730	3,271	SH		SOLE	0	3,271	0	0
Danaher Corp	CONVERTIBLE PREFERRED STOCK	235851300	3,833,782	3,362	SH		SOLE	0	3,362	0	0
Dominion Energy	CONVERTIBLE PREFERRED STOCK	25746U133	4,126,000	39,052	SH		SOLE	0	39,052	0	0
Energizer Holdings Inc	CONVERTIBLE PREFERRED STOCK	29272W208	299,312	3,136	SH		SOLE	0	3,136	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	313,387	8,077	SH		SOLE	0	8,077	0	0
Fortive Corporation	CONVERTIBLE PREFERRED STOCK	34959J207	2,260,426	2,505	SH		SOLE	0	2,505	0	0
International Flavor & Fragrances	CONVERTIBLE PREFERRED STOCK	459506309	2,031,693	43,280	SH		SOLE	0	43,280	0	0
Sempra Energy	CONVERTIBLE PREFERRED STOCK	816851406	2,891,876	24,473	SH		SOLE	0	24,473	0	0
South Jersey Industries	CONVERTIBLE PREFERRED STOCK	838518116	1,612,443	30,971	SH		SOLE	0	30,971	0	0
Southern Co	CONVERTIBLE PREFERRED STOCK	842587602	1,479,551	27,650	SH		SOLE	0	27,650	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502887	3,286,153	32,592	SH		SOLE	0	32,592	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,212,019	2,118	SH		SOLE	0	2,118	0	0
Franklin High Yield	EXCHANGE TRADED FUND	35473P629	217,608	8,423	SH		SOLE	0	8,423	0	0
Global X MSCI Norway ETF	EXCHANGE TRADED FUND	37950E747	187,779	16,160	SH		SOLE	0	16,160	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	46090A887	115,741	2,296	SH		SOLE	0	2,296	0	0
Harvest CSI 300 China A-Shares ETF	EXCHANGE TRADED FUND	233051879	191,255	7,060	SH		SOLE	0	7,060	0	0
iShares 0-5 Year Investment Grade Corporate Bond	EXCHANGE TRADED FUND	46434V100	537,225	10,505	SH		SOLE	0	10,505	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	450,828	8,400	SH		SOLE	0	8,400	0	0
iShares Convertible Bond ETF	EXCHANGE TRADED FUND	46435G102	203,896	3,507	SH		SOLE	0	3,507	0	0
iShares Currency Hedged Canada	EXCHANGE TRADED FUND	46435G706	213,190	7,903	SH		SOLE	0	7,903	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	209,145	7,709	SH		SOLE	0	7,709	0	0
iShares DJ Select Dividend	EXCHANGE TRADED FUND	464287168	6,015	59	SH		SOLE	0	59	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	607,868	11,926	SH		SOLE	0	11,926	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	187,502	2,151	SH		SOLE	0	2,151	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	223,854	1,756	SH		SOLE	0	1,756	0	0
iShares Interest Rate Hedged Long-Term Corporate	EXCHANGE TRADED FUND	46431W812	217,737	9,031	SH		SOLE	0	9,031	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	427,893	3,951	SH		SOLE	0	3,951	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	206,790	6,861	SH		SOLE	0	6,861	0	0
ISHARES MSCI TAIWAN CAPPED ETF	EXCHANGE TRADED FUND	46434g772	213,287	5,866	SH		SOLE	0	5,866	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	23,258	200	SH		SOLE	0	200	0	0
Market Vectors Investment Grade Floating Rate Bo	EXCHANGE TRADED FUND	92189F486	177,058	7,015	SH		SOLE	0	7,015	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	466,819	1,573	SH		SOLE	0	1,573	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	184,064	2,271	SH		SOLE	0	2,271	0	0
Brunswick Corp	PREFERRED STOCK	117043406	282,624	10,617	SH		SOLE	0	10,617	0	0
Citigroup Inc	PREFERRED STOCK	172967358	275,792	9,711	SH		SOLE	0	9,711	0	0
Citizens Financial Group	PREFERRED STOCK	174610204	298,981	10,621	SH		SOLE	0	10,621	0	0
Digital Realty Trust	PREFERRED STOCK	253868848	291,518	10,947	SH		SOLE	0	10,947	0	0
Energy Transfer Partners 7 5/8 percent	PREFERRED STOCK	29278N400	261,721	10,596	SH		SOLE	0	10,596	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	285,243	10,180	SH		SOLE	0	10,180	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	287,223	11,094	SH		SOLE	0	11,094	0	0
Two Harbors Inv Corp	PREFERRED STOCK	90187B507	290,615	11,212	SH		SOLE	0	11,212	0	0
Vereit Inc	PREFERRED STOCK	92339V209	250,331	9,875	SH		SOLE	0	9,875	0	0