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
3M COMPANY	COMMON STOCKS	88579Y101	813,472	4,611	SH		SOLE	0	4,611	0	0
Abbott Laboratories	COMMON STOCKS	002824100	311,219	3,583	SH		SOLE	0	3,583	0	0
Abbvie Inc	COMMON STOCKS	00287Y109	1,324,204	14,956	SH		SOLE	0	14,956	0	0
Alphabet Inc Class A	COMMON STOCKS	02079k305	131,260	98	SH		SOLE	0	98	0	0
American Express Co	COMMON STOCKS	025816109	92,247	741	SH		SOLE	0	741	0	0
Amgen Inc	COMMON STOCKS	031162100	2,166,255	8,986	SH		SOLE	0	8,986	0	0
Apple Computer Inc	COMMON STOCKS	037833100	1,333,171	4,540	SH		SOLE	0	4,540	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	632,626	33,921	SH		SOLE	0	33,921	0	0
AT&T Inc	COMMON STOCKS	00206r102	610,038	15,610	SH		SOLE	0	15,610	0	0
BCE Inc	COMMON STOCKS	05534b760	613,534	13,237	SH		SOLE	0	13,237	0	0
Berkshire Hathaway Inc Cl B	COMMON STOCKS	084670702	71,800	317	SH		SOLE	0	317	0	0
Blackrock Inc	COMMON STOCKS	09247X101	752,541	1,497	SH		SOLE	0	1,497	0	0
Boeing Co	COMMON STOCKS	097023105	835,574	2,565	SH		SOLE	0	2,565	0	0
Broadcom Corp New	COMMON STOCKS	11135f101	1,513,735	4,790	SH		SOLE	0	4,790	0	0
CHEVRON CORP	COMMON STOCKS	166764100	1,035,301	8,591	SH		SOLE	0	8,591	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	1,896,386	39,541	SH		SOLE	0	39,541	0	0
COCA-COLA COMPANY	COMMON STOCKS	191216100	1,076,668	19,452	SH		SOLE	0	19,452	0	0
Comcast Corp Cl A	COMMON STOCKS	20030N101	276,070	6,139	SH		SOLE	0	6,139	0	0
Crown Castle Intl Corp	COMMON STOCKS	22822V101	320,832	2,257	SH		SOLE	0	2,257	0	0
Dominion Res Inc Va	COMMON STOCKS	25746U109	342,212	4,132	SH		SOLE	0	4,132	0	0
Eaton Corp	COMMON STOCKS	G29183103	355,957	3,758	SH		SOLE	0	3,758	0	0
Equinix Inc	COMMON STOCKS	29444u700	44,944	77	SH		SOLE	0	77	0	0
Facebook Inc.	COMMON STOCKS	30303M102	100,572	490	SH		SOLE	0	490	0	0
Fedex Corp	COMMON STOCKS	31428X106	105,544	698	SH		SOLE	0	698	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	86,913	378	SH		SOLE	0	378	0	0
Home Depot Inc	COMMON STOCKS	437076102	1,904,055	8,719	SH		SOLE	0	8,719	0	0
INTEL CORP	COMMON STOCKS	458140100	912,951	15,254	SH		SOLE	0	15,254	0	0
International Paper Co	COMMON STOCKS	460146103	501,806	10,897	SH		SOLE	0	10,897	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	1,939,890	13,916	SH		SOLE	0	13,916	0	0
Johnson & Johnson	COMMON STOCKS	478160104	2,030,510	13,920	SH		SOLE	0	13,920	0	0
KINDER MORGAN INC DE	COMMON STOCKS	49456B101	360,800	17,043	SH		SOLE	0	17,043	0	0
Ladder Capitol Corp	COMMON STOCKS	505743104	659,235	36,543	SH		SOLE	0	36,543	0	0
Legg Mason Inc	COMMON STOCKS	524901105	670,296	18,666	SH		SOLE	0	18,666	0	0
Lowe's Cos Inc	COMMON STOCKS	548661107	109,101	911	SH		SOLE	0	911	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	597,019	6,319	SH		SOLE	0	6,319	0	0
Magellan Midstream	COMMON STOCKS	559080106	260,281	4,140	SH		SOLE	0	4,140	0	0
Marathon Petroleum Corporation	COMMON STOCKS	56585A102	369,272	6,129	SH		SOLE	0	6,129	0	0
McDonalds Corp	COMMON STOCKS	580135101	864,148	4,373	SH		SOLE	0	4,373	0	0
Medtronic Inc	COMMON STOCKS	G5960L103	958,198	8,446	SH		SOLE	0	8,446	0	0
Microsoft Corp	COMMON STOCKS	594918104	1,317,268	8,353	SH		SOLE	0	8,353	0	0
Morgan Stanley	COMMON STOCKS	617446448	1,451,552	28,395	SH		SOLE	0	28,395	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	280,421	1,158	SH		SOLE	0	1,158	0	0
Oneok Inc New	COMMON STOCKS	682680103	662,944	8,761	SH		SOLE	0	8,761	0	0
Oracle Systems Corp	COMMON STOCKS	68389X105	85,774	1,619	SH		SOLE	0	1,619	0	0
Palo Alta Networks	COMMON STOCKS	697435105	73,306	317	SH		SOLE	0	317	0	0
PEPSICO INC	COMMON STOCKS	713448108	779,975	5,707	SH		SOLE	0	5,707	0	0
Philip Morris Intl Inc	COMMON STOCKS	718172109	674,423	7,926	SH		SOLE	0	7,926	0	0
Proctor & Gamble Co	COMMON STOCKS	742718109	518,335	4,150	SH		SOLE	0	4,150	0	0
Salesforce.com Inc	COMMON STOCKS	79466L302	71,073	437	SH		SOLE	0	437	0	0
Simon Ppty Group Inc	COMMON STOCKS	828806109	704,431	4,729	SH		SOLE	0	4,729	0	0
Smucker J M Co	COMMON STOCKS	832696405	584,481	5,613	SH		SOLE	0	5,613	0	0
Splunk Inc	COMMON STOCKS	848637104	66,348	443	SH		SOLE	0	443	0	0
Starbucks Corp	COMMON STOCKS	855244109	1,358,803	15,455	SH		SOLE	0	15,455	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	718,734	5,899	SH		SOLE	0	5,899	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	1,921,271	14,976	SH		SOLE	0	14,976	0	0
Tiffany & Co New	COMMON STOCKS	886547108	23,121	173	SH		SOLE	0	173	0	0
United Parcel Services	COMMON STOCKS	911312106	1,445,105	12,345	SH		SOLE	0	12,345	0	0
United Technologies	COMMON STOCKS	913017109	1,221,143	8,154	SH		SOLE	0	8,154	0	0
US Bancorp	COMMON STOCKS	902973304	958,778	16,171	SH		SOLE	0	16,171	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	617,715	6,596	SH		SOLE	0	6,596	0	0
Verizon Communications	COMMON STOCKS	92343V104	356,365	5,804	SH		SOLE	0	5,804	0	0
Visa. Inc - Class A Shares	COMMON STOCKS	92826C839	30,815	164	SH		SOLE	0	164	0	0
Wal-Mart Stores Inc	COMMON STOCKS	931142103	1,233,559	10,380	SH		SOLE	0	10,380	0	0
Walt Disney Co	COMMON STOCKS	254687106	82,872	573	SH		SOLE	0	573	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAW3	2,894,813	2,632	SH		SOLE	0	2,632	0	0
Blackrock TCP Cap	CONVERTIBLE BOND	87238QAD5	2,746,161	2,596	SH		SOLE	0	2,596	0	0
Booking Holdings Inc	CONVERTIBLE BOND	741503AX4	3,079,808	2,643	SH		SOLE	0	2,643	0	0
CSG Systems International	CONVERTIBLE BOND	126349AF6	2,334,131	2,015	SH		SOLE	0	2,015	0	0
Cypress Semiconductor Co	CONVERTIBLE BOND	232806AP4	1,400,180	1,138	SH		SOLE	0	1,138	0	0
Deutsche Bank AG London/VOYA	CONVERTIBLE BOND	25155MKM2	3,154,987	2,999	SH		SOLE	0	2,999	0	0
Greenbrier Cos Inc	CONVERTIBLE BOND	393657AK7	1,534,086	1,542	SH		SOLE	0	1,542	0	0
HANNON ARMSTRONG	CONVERTIBLE BOND	41068XAB6	2,886,790	2,318	SH		SOLE	0	2,318	0	0
Hercules Capital Inc	CONVERTIBLE BOND	427096AF9	2,405,014	2,258	SH		SOLE	0	2,258	0	0
ILLUMINA INC	CONVERTIBLE BOND	452327AH2	3,104,974	2,233	SH		SOLE	0	2,233	0	0
Interdigital Inc	CONVERTIBLE BOND	458660AD9	1,688,629	1,671	SH		SOLE	0	1,671	0	0
New Mountain Finance	CONVERTIBLE BOND	647551AC4	2,626,243	2,399	SH		SOLE	0	2,399	0	0
ON Semiconductor Corp	CONVERTIBLE BOND	682189AP0	2,235,135	1,611	SH		SOLE	0	1,611	0	0
Palo Alto Networks	CONVERTIBLE BOND	697435ad7	677,250	609	SH		SOLE	0	609	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAB8	2,302,296	2,203	SH		SOLE	0	2,203	0	0
Starwood Property Trust	CONVERTIBLE BOND	85571BAH8	1,238,741	1,167	SH		SOLE	0	1,167	0	0
Synaptics Inc	CONVERTIBLE BOND	87157DAD1	1,749,360	1,572	SH		SOLE	0	1,572	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAD4	2,947,242	2,672	SH		SOLE	0	2,672	0	0
Vereit Inc	CONVERTIBLE BOND	02917TAB0	2,695,049	2,643	SH		SOLE	0	2,643	0	0
Verint Systems Inc	CONVERTIBLE BOND	92343XAA8	1,725,629	1,603	SH		SOLE	0	1,603	0	0
Western Digital Corp	CONVERTIBLE BOND	958102AP0	1,116,221	1,124	SH		SOLE	0	1,124	0	0
American Electric Power	CONVERTIBLE PREFERRED STOCK	025537127	865,520	16,000	SH		SOLE	0	16,000	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	1,400,125	29,265	SH		SOLE	0	29,265	0	0
Assurant Inc	CONVERTIBLE PREFERRED STOCK	04621X207	2,726,020	21,198	SH		SOLE	0	21,198	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	4,491,669	68,595	SH		SOLE	0	68,595	0	0
Broadcom Inc	CONVERTIBLE PREFERRED STOCK	11135F200	2,369,295	2,023	SH		SOLE	0	2,023	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,702,638	16,460	SH		SOLE	0	16,460	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T503	2,693,603	55,190	SH		SOLE	0	55,190	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	4,241,889	3,309	SH		SOLE	0	3,309	0	0
Danaher Corp	CONVERTIBLE PREFERRED STOCK	235851300	4,038,013	3,411	SH		SOLE	0	3,411	0	0
Dominion Energy	CONVERTIBLE PREFERRED STOCK	25746U133	4,262,452	39,877	SH		SOLE	0	39,877	0	0
DTE Energy Co	CONVERTIBLE PREFERRED STOCK	233331842	2,174,791	42,335	SH		SOLE	0	42,335	0	0
Energizer Holdings Inc	CONVERTIBLE PREFERRED STOCK	29272W208	346,169	3,310	SH		SOLE	0	3,310	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	324,156	8,488	SH		SOLE	0	8,488	0	0
Fortive Corporation	CONVERTIBLE PREFERRED STOCK	34959J207	2,490,346	2,556	SH		SOLE	0	2,556	0	0
International Flavor & Fragrances	CONVERTIBLE PREFERRED STOCK	459506309	2,108,694	43,911	SH		SOLE	0	43,911	0	0
Sempra Energy	CONVERTIBLE PREFERRED STOCK	816851406	3,013,710	25,051	SH		SOLE	0	25,051	0	0
South Jersey Industries	CONVERTIBLE PREFERRED STOCK	838518116	1,665,743	31,851	SH		SOLE	0	31,851	0	0
Southern Co	CONVERTIBLE PREFERRED STOCK	842587602	1,515,924	28,165	SH		SOLE	0	28,165	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502846	2,947,715	27,087	SH		SOLE	0	27,087	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	3,120,938	2,152	SH		SOLE	0	2,152	0	0
Franklin High Yield	EXCHANGE TRADED FUND	35473P629	221,082	8,443	SH		SOLE	0	8,443	0	0
Global X MSCI Norway ETF	EXCHANGE TRADED FUND	37950E747	226,153	18,049	SH		SOLE	0	18,049	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	46090A887	123,179	2,445	SH		SOLE	0	2,445	0	0
Harvest CSI 300 China A-Shares ETF	EXCHANGE TRADED FUND	233051879	226,834	7,653	SH		SOLE	0	7,653	0	0
iShares 0-5 Year Investment Grade Corporate Bond	EXCHANGE TRADED FUND	46434V100	661,274	12,956	SH		SOLE	0	12,956	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	578,506	10,787	SH		SOLE	0	10,787	0	0
iShares Convertible Bond ETF	EXCHANGE TRADED FUND	46435G102	354,436	5,652	SH		SOLE	0	5,652	0	0
iShares Currency Hedged Canada	EXCHANGE TRADED FUND	46435G706	208,562	7,736	SH		SOLE	0	7,736	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	226,008	7,796	SH		SOLE	0	7,796	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	738,798	14,509	SH		SOLE	0	14,509	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	231,106	2,628	SH		SOLE	0	2,628	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	233,910	1,828	SH		SOLE	0	1,828	0	0
iShares Interest Rate Hedged Long-Term Corporate	EXCHANGE TRADED FUND	46431W812	248,536	9,810	SH		SOLE	0	9,810	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	425,108	3,934	SH		SOLE	0	3,934	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	230,114	7,035	SH		SOLE	0	7,035	0	0
iShares S&P India Nifty Fifty Index ETF	EXCHANGE TRADED FUND	464289529	221,601	5,738	SH		SOLE	0	5,738	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	23,314	200	SH		SOLE	0	200	0	0
Market Vectors Investment Grade Floating Rate Bo	EXCHANGE TRADED FUND	92189F486	184,990	7,309	SH		SOLE	0	7,309	0	0
SPDR Barclays Convertible Securities ETF	EXCHANGE TRADED FUND	78464A359	296,703	5,346	SH		SOLE	0	5,346	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	488,261	1,517	SH		SOLE	0	1,517	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	185,153	2,285	SH		SOLE	0	2,285	0	0
Stone Ridge Alternative Lending Risk Premium Fun	MUTUAL FUND	86172r101	119	11	SH		SOLE	0	11	0	0
Brunswick Corp	PREFERRED STOCK	117043406	306,697	11,222	SH		SOLE	0	11,222	0	0
Citigroup Inc	PREFERRED STOCK	172967358	289,549	10,217	SH		SOLE	0	10,217	0	0
Citizens Financial Group	PREFERRED STOCK	174610204	316,282	11,180	SH		SOLE	0	11,180	0	0
Digital Realty Trust	PREFERRED STOCK	253868848	304,042	11,543	SH		SOLE	0	11,543	0	0
Energy Transfer Partners 7 5/8 percent	PREFERRED STOCK	29278N400	323,752	13,044	SH		SOLE	0	13,044	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	302,527	10,690	SH		SOLE	0	10,690	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	300,440	11,654	SH		SOLE	0	11,654	0	0
Two Harbors Inv Corp	PREFERRED STOCK	90187B507	309,091	11,829	SH		SOLE	0	11,829	0	0
Vereit Inc	PREFERRED STOCK	92339V209	210,579	8,258	SH		SOLE	0	8,258	0	0