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	702,616	5,147	SH		SOLE	0	5,147	0	0
Abbvie Inc	COMMON STOCKS	00287Y109	1,375,305	18,051	SH		SOLE	0	18,051	0	0
Alphabet Inc Class A	COMMON STOCKS	02079k305	209,151	180	SH		SOLE	0	180	0	0
American Express Co	COMMON STOCKS	025816109	113,861	1,330	SH		SOLE	0	1,330	0	0
Amgen Inc	COMMON STOCKS	031162100	1,969,927	9,717	SH		SOLE	0	9,717	0	0
Apple Computer Inc	COMMON STOCKS	037833100	1,264,329	4,972	SH		SOLE	0	4,972	0	0
Ares Capital Corp	COMMON STOCKS	04010l103	339,580	31,501	SH		SOLE	0	31,501	0	0
AT&T Inc	COMMON STOCKS	00206r102	777,692	26,679	SH		SOLE	0	26,679	0	0
BCE Inc	COMMON STOCKS	05534b760	527,502	12,910	SH		SOLE	0	12,910	0	0
Berkshire Hathaway Inc Cl B	COMMON STOCKS	084670702	83,553	457	SH		SOLE	0	457	0	0
Blackrock Inc	COMMON STOCKS	09247X101	776,107	1,764	SH		SOLE	0	1,764	0	0
Broadcom Corp New	COMMON STOCKS	11135f101	1,199,963	5,061	SH		SOLE	0	5,061	0	0
CHEVRON CORP	COMMON STOCKS	166764100	728,150	10,049	SH		SOLE	0	10,049	0	0
Chipotle Mexican Grill Inc.	COMMON STOCKS	169656105	46,462	71	SH		SOLE	0	71	0	0
Cisco Sys Inc	COMMON STOCKS	17275r102	1,736,676	44,179	SH		SOLE	0	44,179	0	0
COCA-COLA COMPANY	COMMON STOCKS	191216100	965,756	21,825	SH		SOLE	0	21,825	0	0
Comcast Corp Cl A	COMMON STOCKS	20030N101	435,800	12,676	SH		SOLE	0	12,676	0	0
Crown Castle Intl Corp	COMMON STOCKS	22822V101	298,763	2,069	SH		SOLE	0	2,069	0	0
Dominion Res Inc Va	COMMON STOCKS	25746U109	273,600	3,790	SH		SOLE	0	3,790	0	0
Eaton Corp	COMMON STOCKS	G29183103	491,311	6,324	SH		SOLE	0	6,324	0	0
Equinix Inc	COMMON STOCKS	29444u700	84,316	135	SH		SOLE	0	135	0	0
Facebook Inc.	COMMON STOCKS	30303M102	161,462	968	SH		SOLE	0	968	0	0
Fedex Corp	COMMON STOCKS	31428X106	152,423	1,257	SH		SOLE	0	1,257	0	0
Goldman Sachs Group	COMMON STOCKS	38141G104	401,006	2,594	SH		SOLE	0	2,594	0	0
Home Depot Inc	COMMON STOCKS	437076102	1,722,959	9,228	SH		SOLE	0	9,228	0	0
INTEL CORP	COMMON STOCKS	458140100	930,431	17,192	SH		SOLE	0	17,192	0	0
International Paper Co	COMMON STOCKS	460146103	377,980	12,142	SH		SOLE	0	12,142	0	0
Intl Business Machines	COMMON STOCKS	459200101	501,181	4,518	SH		SOLE	0	4,518	0	0
J P Morgan Chase & Co	COMMON STOCKS	46625h100	1,337,665	14,858	SH		SOLE	0	14,858	0	0
Johnson & Johnson	COMMON STOCKS	478160104	2,021,368	15,415	SH		SOLE	0	15,415	0	0
KINDER MORGAN INC DE	COMMON STOCKS	49456B101	233,535	16,777	SH		SOLE	0	16,777	0	0
Lowe's Cos Inc	COMMON STOCKS	548661107	142,670	1,658	SH		SOLE	0	1,658	0	0
LyondellBasell Industries NV	COMMON STOCKS	n53745100	296,142	5,967	SH		SOLE	0	5,967	0	0
Magellan Midstream	COMMON STOCKS	559080106	170,408	4,670	SH		SOLE	0	4,670	0	0
McDonalds Corp	COMMON STOCKS	580135101	1,394,396	8,433	SH		SOLE	0	8,433	0	0
Medtronic Inc	COMMON STOCKS	G5960L103	1,063,222	11,790	SH		SOLE	0	11,790	0	0
Microsoft Corp	COMMON STOCKS	594918104	1,557,543	9,876	SH		SOLE	0	9,876	0	0
Morgan Stanley	COMMON STOCKS	617446448	993,514	29,221	SH		SOLE	0	29,221	0	0
NextEra Energy Inc	COMMON STOCKS	65339f101	255,779	1,063	SH		SOLE	0	1,063	0	0
Oneok Inc New	COMMON STOCKS	682680103	199,757	9,159	SH		SOLE	0	9,159	0	0
Oracle Systems Corp	COMMON STOCKS	68389X105	138,658	2,869	SH		SOLE	0	2,869	0	0
Palo Alta Networks	COMMON STOCKS	697435105	93,457	570	SH		SOLE	0	570	0	0
PEPSICO INC	COMMON STOCKS	713448108	661,390	5,507	SH		SOLE	0	5,507	0	0
Philip Morris Intl Inc	COMMON STOCKS	718172109	561,427	7,695	SH		SOLE	0	7,695	0	0
Proctor & Gamble Co	COMMON STOCKS	742718109	514,030	4,673	SH		SOLE	0	4,673	0	0
Recruit Holdings Co	COMMON STOCKS	j6433a101	2,486	96	SH		SOLE	0	96	0	0
Salesforce.com Inc	COMMON STOCKS	79466L302	126,414	878	SH		SOLE	0	878	0	0
Splunk Inc	COMMON STOCKS	848637104	99,595	789	SH		SOLE	0	789	0	0
Starbucks Corp	COMMON STOCKS	855244109	1,793,715	27,285	SH		SOLE	0	27,285	0	0
T.Rowe Price Group Inc	COMMON STOCKS	74144T108	647,907	6,635	SH		SOLE	0	6,635	0	0
Texas Instrs Inc	COMMON STOCKS	882508104	1,629,358	16,305	SH		SOLE	0	16,305	0	0
Tjx Cos Inc New	COMMON STOCKS	872540109	37,435	783	SH		SOLE	0	783	0	0
Tyson Foods Inc	COMMON STOCKS	902494103	450,344	7,782	SH		SOLE	0	7,782	0	0
United Parcel Services	COMMON STOCKS	911312106	1,203,996	12,888	SH		SOLE	0	12,888	0	0
United Technologies	COMMON STOCKS	913017109	971,787	10,302	SH		SOLE	0	10,302	0	0
Valero Energy Corp	COMMON STOCKS	91913y100	316,884	6,986	SH		SOLE	0	6,986	0	0
Visa. Inc - Class A Shares	COMMON STOCKS	92826C839	47,691	296	SH		SOLE	0	296	0	0
Wal-Mart Stores Inc	COMMON STOCKS	931142103	1,349,691	11,879	SH		SOLE	0	11,879	0	0
Walt Disney Co	COMMON STOCKS	254687106	99,015	1,025	SH		SOLE	0	1,025	0	0
Ares Capital Corp	CONVERTIBLE BOND	04010LAW3	2,363,901	2,657	SH		SOLE	0	2,657	0	0
Blackrock TCP Cap	CONVERTIBLE BOND	87238QAD5	2,461,767	2,767	SH		SOLE	0	2,767	0	0
Booking Holdings Inc	CONVERTIBLE BOND	741503AX4	2,684,328	2,668	SH		SOLE	0	2,668	0	0
CSG Systems International	CONVERTIBLE BOND	126349AF6	2,105,592	2,034	SH		SOLE	0	2,034	0	0
Cypress Semiconductor Co	CONVERTIBLE BOND	232806AP4	1,378,344	1,142	SH		SOLE	0	1,142	0	0
Deutsche Bank AG London/VOYA	CONVERTIBLE BOND	25155MKM2	2,756,603	3,013	SH		SOLE	0	3,013	0	0
Fortive Corporation	CONVERTIBLE BOND	34959JAK4	2,176,945	2,327	SH		SOLE	0	2,327	0	0
HANNON ARMSTRONG	CONVERTIBLE BOND	41068XAB6	2,228,284	2,332	SH		SOLE	0	2,332	0	0
Hercules Capital Inc	CONVERTIBLE BOND	427096AF9	2,091,529	2,282	SH		SOLE	0	2,282	0	0
ILLUMINA INC	CONVERTIBLE BOND	452327AH2	2,767,060	2,250	SH		SOLE	0	2,250	0	0
New Mountain Finance	CONVERTIBLE BOND	647551AC4	2,047,840	2,427	SH		SOLE	0	2,427	0	0
ON Semiconductor Corp	CONVERTIBLE BOND	682189AP0	1,651,398	1,627	SH		SOLE	0	1,627	0	0
Palo Alto Networks	CONVERTIBLE BOND	697435ad7	1,276,112	1,320	SH		SOLE	0	1,320	0	0
Spirit Realty Capital	CONVERTIBLE BOND	84860WAB8	2,301,870	2,377	SH		SOLE	0	2,377	0	0
Starwood Property Trust	CONVERTIBLE BOND	85571BAH8	1,063,097	1,180	SH		SOLE	0	1,180	0	0
Synaptics Inc	CONVERTIBLE BOND	87157DAD1	1,654,264	1,587	SH		SOLE	0	1,587	0	0
TPG Specialty Lending	CONVERTIBLE BOND	87265KAD4	2,504,974	2,693	SH		SOLE	0	2,693	0	0
Vereit Inc	CONVERTIBLE BOND	02917TAB0	2,830,253	2,813	SH		SOLE	0	2,813	0	0
Verint Systems Inc	CONVERTIBLE BOND	92343XAA8	1,578,951	1,623	SH		SOLE	0	1,623	0	0
Western Digital Corp	CONVERTIBLE BOND	958102AP0	1,241,538	1,394	SH		SOLE	0	1,394	0	0
American Electric Power	CONVERTIBLE PREFERRED STOCK	025537127	775,152	16,000	SH		SOLE	0	16,000	0	0
AMG Capital Trust II	CONVERTIBLE PREFERRED STOCK	00170F209	1,009,158	30,990	SH		SOLE	0	30,990	0	0
Assurant Inc	CONVERTIBLE PREFERRED STOCK	04621X207	2,246,261	21,230	SH		SOLE	0	21,230	0	0
Becton Dickinson and Co	CONVERTIBLE PREFERRED STOCK	075887208	3,730,472	68,370	SH		SOLE	0	68,370	0	0
Broadcom Inc	CONVERTIBLE PREFERRED STOCK	11135F200	2,794,574	2,965	SH		SOLE	0	2,965	0	0
Bunge Ltd. Perpetual Conv Pfd	CONVERTIBLE PREFERRED STOCK	G16962204	1,562,490	16,618	SH		SOLE	0	16,618	0	0
Centerpoint Energy Inc	CONVERTIBLE PREFERRED STOCK	15189T503	1,710,852	58,635	SH		SOLE	0	58,635	0	0
Crown Castle Int Corp	CONVERTIBLE PREFERRED STOCK	22822V309	4,228,310	3,276	SH		SOLE	0	3,276	0	0
Danaher Corp	CONVERTIBLE PREFERRED STOCK	235851300	3,620,052	3,443	SH		SOLE	0	3,443	0	0
Dominion Energy	CONVERTIBLE PREFERRED STOCK	25746U133	3,728,504	40,014	SH		SOLE	0	40,014	0	0
DTE Energy Co	CONVERTIBLE PREFERRED STOCK	233331842	1,879,054	47,835	SH		SOLE	0	47,835	0	0
Energizer Holdings Inc	CONVERTIBLE PREFERRED STOCK	29272W208	221,307	3,210	SH		SOLE	0	3,210	0	0
Entertainment Properties	CONVERTIBLE PREFERRED STOCK	26884U307	176,425	8,202	SH		SOLE	0	8,202	0	0
Fortive Corporation	CONVERTIBLE PREFERRED STOCK	34959J207	1,872,525	2,574	SH		SOLE	0	2,574	0	0
International Flavor & Fragrances	CONVERTIBLE PREFERRED STOCK	459506309	1,717,555	44,742	SH		SOLE	0	44,742	0	0
Sempra Energy	CONVERTIBLE PREFERRED STOCK	816851406	2,380,185	25,104	SH		SOLE	0	25,104	0	0
South Jersey Industries	CONVERTIBLE PREFERRED STOCK	838518116	1,336,459	31,933	SH		SOLE	0	31,933	0	0
Southern Co	CONVERTIBLE PREFERRED STOCK	842587602	1,491,950	32,515	SH		SOLE	0	32,515	0	0
Stanley Black & Decker	CONVERTIBLE PREFERRED STOCK	854502846	1,917,824	27,267	SH		SOLE	0	27,267	0	0
Wells Fargo & Company PFD	CONVERTIBLE PREFERRED STOCK	949746804	2,761,350	2,172	SH		SOLE	0	2,172	0	0
Franklin FTSE Switzerland ETF	EXCHANGE TRADED FUND	35473P694	190,653	7,840	SH		SOLE	0	7,840	0	0
Franklin FTSE United Kingdon ETF	EXCHANGE TRADED FUND	35473P678	159,482	8,990	SH		SOLE	0	8,990	0	0
Franklin High Yield	EXCHANGE TRADED FUND	35473P629	190,135	8,443	SH		SOLE	0	8,443	0	0
Guggenheim Enhanced Short Duration Bond ETF	EXCHANGE TRADED FUND	46090A887	120,562	2,445	SH		SOLE	0	2,445	0	0
iShares 0-5 Year Investment Grade Corporate Bond	EXCHANGE TRADED FUND	46434V100	644,449	12,853	SH		SOLE	0	12,853	0	0
iShares 1-3 Year Credit Bond	EXCHANGE TRADED FUND	464288646	558,733	10,671	SH		SOLE	0	10,671	0	0
iShares Convertible Bond ETF	EXCHANGE TRADED FUND	46435G102	312,406	5,747	SH		SOLE	0	5,747	0	0
iShares Currency Hedged Canada	EXCHANGE TRADED FUND	46435G706	172,389	7,981	SH		SOLE	0	7,981	0	0
ISHARES CURRENCY HEDGED MSCI GER ETF	EXCHANGE TRADED FUND	46434v704	164,009	7,586	SH		SOLE	0	7,586	0	0
iShares Floating Rate Bond ETF	EXCHANGE TRADED FUND	46429B655	702,294	14,409	SH		SOLE	0	14,409	0	0
iShares iBoxx High Yield Corp Bond ETF	EXCHANGE TRADED FUND	464288513	199,842	2,593	SH		SOLE	0	2,593	0	0
iShares iBoxx Investment Grade	EXCHANGE TRADED FUND	464287242	220,341	1,784	SH		SOLE	0	1,784	0	0
iShares Interest Rate Hedged Long-Term Corporate	EXCHANGE TRADED FUND	46431W812	203,361	9,810	SH		SOLE	0	9,810	0	0
iShares MBS ETF	EXCHANGE TRADED FUND	464288588	427,513	3,871	SH		SOLE	0	3,871	0	0
ISHARES MSCI FRANCE ETF	EXCHANGE TRADED FUND	464286707	162,908	6,950	SH		SOLE	0	6,950	0	0
iShares TIPS Bond ETF	EXCHANGE TRADED FUND	464287176	23,584	200	SH		SOLE	0	200	0	0
Market Vectors Investment Grade Floating Rate Bo	EXCHANGE TRADED FUND	92189F486	172,638	7,309	SH		SOLE	0	7,309	0	0
SPDR S&P 500 ETF	EXCHANGE TRADED FUND	78462f103	200,271	777	SH		SOLE	0	777	0	0
Vanguard Short-Term Corporate Bond ETF	EXCHANGE TRADED FUND	92206C409	180,743	2,285	SH		SOLE	0	2,285	0	0
Brunswick Corp	PREFERRED STOCK	117043406	244,323	10,883	SH		SOLE	0	10,883	0	0
Citigroup Inc	PREFERRED STOCK	172967358	257,087	9,930	SH		SOLE	0	9,930	0	0
Citizens Financial Group	PREFERRED STOCK	174610204	257,937	10,815	SH		SOLE	0	10,815	0	0
Digital Realty Trust	PREFERRED STOCK	253868848	282,153	11,201	SH		SOLE	0	11,201	0	0
Energy Transfer Partners 7 5/8 percent	PREFERRED STOCK	29278N400	160,782	12,660	SH		SOLE	0	12,660	0	0
Morgan Stanley PFD Perpetual	PREFERRED STOCK	61763E207	266,170	10,377	SH		SOLE	0	10,377	0	0
Nustar Logistics LP	PREFERRED STOCK	67059T204	150,022	11,331	SH		SOLE	0	11,331	0	0
Vereit Inc	PREFERRED STOCK	92339V209	177,639	8,038	SH		SOLE	0	8,038	0	0