Grassi Investment Management 13FHR Quarterly holdings report by institutional manager | SEC 8 Jan 15

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	COM	88579Y101	7,714	46,942	SH		SOLE		0	0	46,942
ABBOTT LABS COM	COM	002824100	493	10,950	SH		SOLE		0	0	10,950
ABBVIE INC.	COM	00287Y109	8,833	134,975	SH		SOLE		200	0	134,775
ACCESS MIDSTREAM	COM	00434L109	1,061	19,582	SH		SOLE		0	0	19,432
ALTRIA GROUP INC	COM	02209S103	6,941	140,871	SH		SOLE		0	0	140,871
AMER INT'L GROUP	COM	026874784	7,148	127,614	SH		SOLE		150	0	127,314
AMERICAN CAMPUS	COM	024835100	625	15,100	SH		SOLE		0	0	15,100
AMERICAN EXPRESS	COM	025816109	2,301	24,735	SH		SOLE		0	0	24,735
ANADARKO PETRO	COM	032511107	800	9,700	SH		SOLE		0	0	9,700
APACHE CORP	COM	037411105	760	12,125	SH		SOLE		0	0	12,125
APOLLO INVESTMENT	COM	03761U106	74	10,000	SH		SOLE		0	0	10,000
APPLE COMPUTER	COM	037833100	8,666	78,514	SH		SOLE		0	0	78,514
APPLIED MATERIALS	COM	038222105	9,711	389,690	SH		SOLE		0	0	389,690
AT&T	COM	00206r102	4,929	146,737	SH		SOLE		0	0	146,537
AVALONBAY	COM	053484101	676	4,135	SH		SOLE		0	0	4,135
B&G FOODS INC	COM	05508R106	434	14,504	SH		SOLE		0	0	14,504
BANK OF AMERICA	COM	060505104	14,194	793,423	SH		SOLE		600	0	791,823
BANK OF NEW YORK	COM	064057102	205	5,050	SH		SOLE		0	0	5,050
BLACKSTONE GROUP LP	COM	09253u108	5,901	174,430	SH		SOLE		0	0	174,430
BOEING	COM	097023105	7,765	59,738	SH		SOLE		0	0	59,738
BRINKER INTL INC	COM	109641100	3,238	55,175	SH		SOLE		0	0	55,175
BRISTOL-MYERS	COM	110122108	7,057	119,543	SH		SOLE		0	0	119,293
BUNGE LIMITED	COM	013317810	205	2,250	SH		SOLE		0	0	2,250
CAMDEN PROPERTY TR	COM	133131102	635	8,600	SH		SOLE		0	0	8,600
CATALENT INC	COM	148806102	836	30,000	SH		SOLE		0	0	30,000
CATERPILLAR	COM	149123101	4,911	53,650	SH		SOLE		0	0	53,650
CELGENE CORP	COM	151022104	232	2,075	SH		SOLE		0	0	2,075
CHEVRON CORP	COM	166764100	3,238	28,860	SH		SOLE		0	0	28,860
CITIGROUP INC	COM	172967101	8,117	150,017	SH		SOLE		0	0	150,017
CLOROX COMPANY	COM	189054109	625	6,000	SH		SOLE		0	0	6,000
COMCAST CL A	COM	20030N101	5,731	98,800	SH		SOLE		0	0	98,800
COMM BK BAY OAKLAND CA	COM	203485107	127	30,000	SH		SOLE		0	0	30,000
CONOCOPHILLIPS	COM	20825c104	4,160	60,234	SH		SOLE		0	0	60,234
COUPONS.COM	COM	22265J102	94,312	5,313,350	SH		SOLE		0	0	5,313,350
CUMMINS INC	COM	231021106	534	3,705	SH		SOLE		0	0	3,705
DEUTSCHE TELEKOM	COM	251566105	390	24,520	SH		SOLE		0	0	24,120
DOW CHEMICAL	COM	260543103	6,743	147,840	SH		SOLE		0	0	147,840
DU PONT EI DE NMRS	COM	263534109	8,164	110,418	SH		SOLE		0	0	110,318
EMERSON ELECTRIC	COM	291011104	3,074	49,800	SH		SOLE		0	0	49,800
ENABLE MIDSTREAM	COM	292480100	872	44,976	SH		SOLE		0	0	44,676
ENERGY TRANSFER	COM	29273R109	3,237	49,807	SH		SOLE		0	0	49,657
ENERGY TRANSFER EQU	COM	29273v100	6,087	106,076	SH		SOLE		0	0	105,926
ENTERPRISE PRODS	COM	293792107	7,505	207,769	SH		SOLE		0	0	207,569
EQT MIDSTREAM	COM	26885B100	361	4,100	SH		SOLE		0	0	4,100
EXPRESS SCRIPTS INC	COM	302182100	2,908	34,350	SH		SOLE		100	0	34,250
EXXON MOBIL CORP	COM	30231G102	3,587	38,800	SH		SOLE		0	0	38,800
FACEBOOK, INC.	COM	30303M102	1,835	23,515	SH		SOLE		0	0	23,515
FIRST REPUBLIC BANK	COM	33616C100	5,718	109,700	SH		SOLE		200	0	109,500
FLOWERS FOODS	COM	343498101	384	20,000	SH		SOLE		0	0	20,000
FRANKLIN RES	COM	354613101	598	10,800	SH		SOLE		0	0	10,800
FREEPORT MCMORAN	COM	35671d857	1,332	57,013	SH		SOLE		0	0	56,713
GAP INC	COM	364760108	1,150	27,300	SH		SOLE		0	0	27,300
GEN MOTORS CORP	COM	370442105	643	18,429	SH		SOLE		0	0	18,429
GENERAL ELECTRIC	COM	369604103	5,254	207,924	SH		SOLE		0	0	207,424
GENERAL MILLS INC	COM	370334104	3,419	64,113	SH		SOLE		0	0	63,963
GOOGLE INC CLASS A	COM	38259p508	202	380	SH		SOLE		0	0	380
HALLIBURTON CO	COM	406216101	1,628	41,400	SH		SOLE		0	0	41,400
HARTFORD FINANCIAL	COM	416515104	463	11,100	SH		SOLE		0	0	11,100
HCP, INC.	COM	40414L109	4,435	100,725	SH		SOLE		0	0	100,575
HEWLETT-PACKARD CO	COM	428236103	1,047	26,100	SH		SOLE		0	0	26,100
HILTON WORLDWIDE	COM	43300A104	2,331	89,340	SH		SOLE		0	0	89,340
HOLLY ENERGY	COM	435763107	317	10,600	SH		SOLE		0	0	10,600
HOME DEPOT INC	COM	437076102	6,285	59,879	SH		SOLE		0	0	59,879
HONEYWELL INT'L INC	COM	438516106	6,260	62,650	SH		SOLE		0	0	62,650
IBM CORPORATION	COM	459200101	1,833	11,428	SH		SOLE		0	0	11,428
INGREDION	COM	457187102	374	4,407	SH		SOLE		0	0	4,407
INTEL CORPORATION	COM	458140100	6,941	191,275	SH		SOLE		0	0	191,275
INTL PAPER	COM	460146103	7,395	138,020	SH		SOLE		0	0	137,820
JOHNSON & JOHNSON	COM	478160104	4,322	41,327	SH		SOLE		0	0	41,327
JP MORGAN CHASE	COM	46625H100	6,463	103,274	SH		SOLE		100	0	102,974
KELLOGG CO	COM	487836108	2,827	43,200	SH		SOLE		0	0	43,200
KEYCORP	COM	493267108	5,083	365,652	SH		SOLE		500	0	364,152
KIMCO REALTY CORP	COM	49446R109	310	12,317	SH		SOLE		0	0	12,317
KINDER MORGAN INC.	COM	49456B101	544	12,855	SH		SOLE		0	0	12,655
KOHLBERG KRAVIS	COM	48248M102	6,326	272,547	SH		SOLE		0	0	272,347
KRAFT FOOD GROUP	COM	50076Q106	5,552	88,605	SH		SOLE		0	0	88,605
LAM RESEARCH CORP	COM	512807108	778	9,800	SH		SOLE		0	0	9,800
LILLY, ELI & CO	COM	532457108	4,495	65,155	SH		SOLE		0	0	65,155
LOCKHEED MARTIN	COM	539830109	7,317	37,995	SH		SOLE		0	0	37,995
LORILLARD, INC	COM	544147101	2,974	47,256	SH		SOLE		100	0	46,956
MACERICH CO	COM	554382101	630	7,553	SH		SOLE		0	0	7,553
MAGELLAN	COM	559080106	996	12,050	SH		SOLE		0	0	12,050
MARRIOTT INTL	COM	571903202	4,003	51,300	SH		SOLE		0	0	51,300
MERCK & CO INC	COM	589331107	6,638	116,881	SH		SOLE		0	0	116,681
MICROSOFT CORP	COM	594918104	3,524	75,860	SH		SOLE		0	0	75,860
MONDELEZ INTL	COM	609207105	1,240	34,126	SH		SOLE		0	0	34,126
MONSANTO	COM	61166w101	3,799	31,800	SH		SOLE		0	0	31,800
MORGAN STANLEY	COM	617446448	5,884	151,650	SH		SOLE		300	0	151,350
NESTLE SA	COM	641069406	3,192	43,762	SH		SOLE		0	0	43,762
NIKE	COM	654106103	1,036	10,775	SH		SOLE		0	0	10,775
NORTHSTAR MGMT	COM	66705Y104	2,031	90,000	SH		SOLE		0	0	90,000
NORTHSTAR RLTY	COM	66704r704	1,582	90,000	SH		SOLE		0	0	90,000
NUCOR CORP	COM	670346105	3,785	77,162	SH		SOLE		0	0	77,012
OCCIDENTAL PETROL	COM	674599105	428	5,308	SH		SOLE		0	0	5,308
ORACLE CORP	COM	68389X105	782	17,400	SH		SOLE		0	0	17,400
PAC MERC BNCRP	COM	694552100	317	45,000	SH		SOLE		0	0	45,000
PEPSICO INC	COM	713448108	7,010	74,129	SH		SOLE		0	0	74,029
PFIZER INC	COM	717081103	7,031	225,721	SH		SOLE		0	0	225,421
PHILIP MORRIS INTL	COM	718172109	3,588	44,046	SH		SOLE		0	0	44,046
PINNACLE FOODS	COM	72348P104	6,682	189,292	SH		SOLE		0	0	189,092
PLAINS ALL AM	COM	726503105	2,001	38,994	SH		SOLE		0	0	38,994
PLAINS GP HLDGS	COM	72651A108	1,770	68,920	SH		SOLE		0	0	68,920
PROCTER & GAMBLE	COM	742718109	20,511	225,175	SH		SOLE		0	0	225,075
PROLOGIS	COM	74340W103	8,907	207,000	SH		SOLE		0	0	207,000
QUALCOMM INC	COM	747525103	1,227	16,501	SH		SOLE		0	0	16,501
REGENCY CENTERS	COM	758847103	383	6,000	SH		SOLE		0	0	6,000
REYNOLDS AMERICAN	COM	761713106	6,204	96,530	SH		SOLE		0	0	96,380
ROBERT HALF INTL	COM	770323103	3,795	65,000	SH		SOLE		0	0	65,000
ROCHE HLDGS LTD	COM	771195104	6,472	190,405	SH		SOLE		200	0	190,055
ROYAL DUTCH SHELL	COM	780259206	6,329	94,530	SH		SOLE		0	0	94,330
SALESFORCE.COM	COM	79466L302	1,550	26,131	SH		SOLE		0	0	26,131
SANOFI-AVENTIS	COM	80105N105	2,372	52,000	SH		SOLE		0	0	52,000
SBA COMMUNICATIONS	COM	78388J106	1,307	11,800	SH		SOLE		0	0	11,800
SCHWAB, CHARLES	COM	808513105	797	26,393	SH		SOLE		0	0	26,393
SEADRILL LTD	COM	G7945E105	2,448	205,000	SH		SOLE		0	0	205,000
SEAGATE TECHNOLOGY	COM	G7945M107	6,375	95,860	SH		SOLE		0	0	95,860
SIMON PPTY GRP INC	COM	828806109	696	3,820	SH		SOLE		0	0	3,820
STARBUCKS CORP	COM	855244109	1,140	13,896	SH		SOLE		0	0	13,896
TARGA CORP	COM	87612G101	530	5,000	SH		SOLE		0	0	5,000
TARGA RESOURCES	COM	87611x105	2,223	46,423	SH		SOLE		0	0	46,223
TAUBMAN CENTERS	COM	876664103	229	3,000	SH		SOLE		0	0	3,000
TRANSCANADA CORP	COM	89353D107	491	10,000	SH		SOLE		0	0	10,000
TRAVELERS CO	COM	89417E109	1,146	10,831	SH		SOLE		0	0	10,731
UNILEVER NV	COM	904784709	2,959	75,800	SH		SOLE		0	0	75,800
UNION PACIFIC	COM	907818108	6,581	55,240	SH		SOLE		0	0	55,240
UNITED TECH	COM	913017109	6,187	53,800	SH		SOLE		0	0	53,800
VENTAS INC.	COM	92276F100	1,712	23,875	SH		SOLE		0	0	23,725
VERIZON COMM	COM	92343V104	7,410	158,410	SH		SOLE		0	0	158,410
VISA INC CL A	COM	92826c839	6,778	25,851	SH		SOLE		0	0	25,851
VORNADO RLTY	COM	929042109	4,329	36,780	SH		SOLE		0	0	36,780
WAL-MART STORES	COM	931142103	3,569	41,554	SH		SOLE		0	0	41,554
WALGREEN CO	COM	931427108	1,673	21,950	SH		SOLE		0	0	21,950
WELLS FARGO & CO	COM	949746101	4,817	87,872	SH		SOLE		200	0	87,672
WESTERN GAS	COM	958254104	1,138	15,576	SH		SOLE		0	0	15,576
WEYERHAEUSER	COM	984332106	5,127	142,865	SH		SOLE		0	0	142,565
WHITEWAVE FOOD CO	COM	966244105	217	6,200	SH		SOLE		0	0	6,200
WILLIAMS PARTNERS LP	COM	96950f104	426	9,525	SH		SOLE		0	0	9,525
DFA US CORE EQUITY I	COM	245918784	375	20,945	SH		SOLE		0	0	20,945
VANGUARD CA INT	COM	922021308	268	22,727	SH		SOLE		0	0	22,727
VANGUARD INDX TR	COM	922908108	856	4,509	SH		SOLE		0	0	4,509
VANGUARD WELL FUND	COM	921935102	291	7,444	SH		SOLE		0	0	7,444

Grassi Investment Management 13F-HRQuarterly holdings report by institutional manager