0000909012-17-000065.txt : 20170215 0000909012-17-000065.hdr.sgml : 20170215 20170215143117 ACCESSION NUMBER: 0000909012-17-000065 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20161231 FILED AS OF DATE: 20170215 DATE AS OF CHANGE: 20170215 EFFECTIVENESS DATE: 20170215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Laffer Investments CENTRAL INDEX KEY: 0001307878 IRS NUMBER: 200536838 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10975 FILM NUMBER: 17614130 BUSINESS ADDRESS: STREET 1: 103 MURPHY COURT CITY: NASHVILLE STATE: TN ZIP: 37203 BUSINESS PHONE: 6154600100 MAIL ADDRESS: STREET 1: 103 MURPHY COURT CITY: NASHVILLE STATE: TN ZIP: 37203 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001307878 XXXXXXXX 12-31-2016 12-31-2016 Laffer Investments

103 MURPHY COURT NASHVILLE TN 37203

13F HOLDINGS REPORT 028-10975 N Arthur B. Laffer, Jr. 615 460 0100 /s/ ARTHUR B. LAFFER Nashville TN 02-15-2017 0 216 372345317 false INFORMATION TABLE 2 aci_13f.xml Activision Blizzard Inc. COMMON STOCKS 00507V109 1895594 52495 SH OTR ALL 52495 0 0 Advance Auto Parts Inc COMMON STOCKS 00751Y106 1646383 9735 SH OTR ALL 9735 0 0 Aetna Inc COMMON STOCKS 00817Y108 2150953 17345 SH OTR ALL 17345 0 0 Agilent Technologies COMMON STOCKS 00846U101 1743581 38270 SH OTR ALL 38270 0 0 Alerian MLP ETF EXCHANGE TRADED FUND 00162Q866 574005 45556 SH OTR ALL 45556 0 0 Alexandria Real Estate CONVERTIBLE PREFERRED STOCK 015271505 2594163 74225 SH OTR ALL 74225 0 0 Allergan PLC CONVERTIBLE PREFERRED STOCK G0177J116 3886668 5096 SH OTR ALL 5096 0 0 Altria Group Inc COMMON STOCKS 02209S103 997259 14748 SH OTR ALL 14748 0 0 American Tower Corp - Cl B CONVERTIBLE PREFERRED STOCK 03027X407 2255997 21750 SH OTR ALL 21750 0 0 Ameriprise Financial, Inc. COMMON STOCKS 03076C106 1706811 15385 SH OTR ALL 15385 0 0 Amerisourcebergen Corp Com COMMON STOCKS 03073E105 1746451 22336 SH OTR ALL 22336 0 0 Ametek Inc. COMMON STOCKS 031100100 1628586 33510 SH OTR ALL 33510 0 0 AMG Capital Trust II CONVERTIBLE PREFERRED STOCK 00170F209 1221103 22580 SH OTR ALL 22580 0 0 Amgen Inc COMMON STOCKS 031162100 523724 3582 SH OTR ALL 3582 0 0 Amphenol Corp COMMON STOCKS 032095101 1823808 27140 SH OTR ALL 27140 0 0 Anadarko Pertroleum Corp CONVERTIBLE PREFERRED STOCK 032511404 2499523 60912 SH OTR ALL 60912 0 0 Analog Devices Inc COMMON STOCKS 032654105 1824940 25130 SH OTR ALL 25130 0 0 Anthem Inc CONVERTIBLE PREFERRED STOCK 036752202 4358820 92731 SH OTR ALL 92731 0 0 Aon PLC COMMON STOCKS G0408V102 1979657 17750 SH OTR ALL 17750 0 0 Applied Materials Inc COMMON STOCKS 038222105 2045433 63385 SH OTR ALL 63385 0 0 Arconic Inc CONVERTIBLE PREFERRED STOCK 03965L308 1006806 33370 SH OTR ALL 33370 0 0 Ares Capital Corp COMMON STOCKS 04010L103 926045 56158 SH OTR ALL 56158 0 0 Ares Capital Corp CONVERTIBLE BOND 04010LAG8 2843888 2742 SH OTR ALL 2742 0 0 AT&T Inc COMMON STOCKS 00206R102 905463 21290 SH OTR ALL 21290 0 0 Automatic Data Processing Inc. COMMON STOCKS 053015103 2276063 22145 SH OTR ALL 22145 0 0 Baker Hughes Inc COMMON STOCKS 057224107 1917264 29510 SH OTR ALL 29510 0 0 Bank of New York Mellon Corp COMMON STOCKS 064058100 2221885 46895 SH OTR ALL 46895 0 0 BB&T Corp COMMON STOCKS 054937107 2130006 45300 SH OTR ALL 45300 0 0 BCE Inc New COMMON STOCKS 05534B760 937054 21671 SH OTR ALL 21671 0 0 Best Buy Inc COMMON STOCKS 086516101 1515851 35525 SH OTR ALL 35525 0 0 Block H & R Inc COMMON STOCKS 093671105 1649762 71760 SH OTR ALL 71760 0 0 Boeing Co COMMON STOCKS 097023105 625210 4016 SH OTR ALL 4016 0 0 Bristol Myers Squibb COMMON STOCKS 110122108 3172181 54281 SH OTR ALL 54281 0 0 Broadcom Corp New COMMON STOCKS y09827109 2558392 14473 SH OTR ALL 14473 0 0 Bunge Ltd. Perpetual Conv Pfd CONVERTIBLE PREFERRED STOCK G16962204 1600622 15701 SH OTR ALL 15701 0 0 Cardinal Health Inc COMMON STOCKS 14149Y108 1898784 26383 SH OTR ALL 26383 0 0 Centurylink Inc COMMON STOCKS 156700106 1723075 72459 SH OTR ALL 72459 0 0 Cintas Corp COMMON STOCKS 172908105 1616106 13985 SH OTR ALL 13985 0 0 Cisco Sys Inc COMMON STOCKS 17275R102 977073 32332 SH OTR ALL 32332 0 0 Citigroup Inc. PREFERRED STOCK 172967358 307444 10988 SH OTR ALL 10988 0 0 Citizens Financial Group COMMON STOCKS 174610105 1823187 51170 SH OTR ALL 51170 0 0 Citrix Systems Inc CONVERTIBLE BOND 177376AD2 1813843 1562 SH OTR ALL 1562 0 0 Clorox Co COMMON STOCKS 189054109 1858509 15485 SH OTR ALL 15485 0 0 CME Group Inc COMMON STOCKS 12572Q105 3036127 26321 SH OTR ALL 26321 0 0 CMS Energy Corp COMMON STOCKS 125896100 1754283 42150 SH OTR ALL 42150 0 0 Coca-Cola Company COMMON STOCKS 191216100 866887 20909 SH OTR ALL 20909 0 0 Comerica Inc COMMON STOCKS 200340107 1668354 24495 SH OTR ALL 24495 0 0 Cooper Cos Inc/The COMMON STOCKS 216648402 1683701 9625 SH OTR ALL 9625 0 0 Corning Inc COMMON STOCKS 219350105 1851072 76270 SH OTR ALL 76270 0 0 CyrusOne Inc. REITS - usd 23283R100 468859 10482 SH OTR ALL 10482 0 0 D.R. Horton Inc COMMON STOCKS 23331A109 1614301 59067 SH OTR ALL 59067 0 0 Darden Restaurants COMMON STOCKS 237194105 1546899 21272 SH OTR ALL 21272 0 0 Dentsply Intl Inc COMMON STOCKS 24906P109 1721219 29815 SH OTR ALL 29815 0 0 Digital Realty Trust COMMON STOCKS 253868103 1815844 18480 SH OTR ALL 18480 0 0 Digital Realty Trust Inc PREFERRED STOCK 253868871 268812 9901 SH OTR ALL 9901 0 0 Dominion Resources CONVERTIBLE PREFERRED STOCK 25746U836 1886714 37278 SH OTR ALL 37278 0 0 Dominion Resources Inc CONVERTIBLE PREFERRED STOCK 25746U869 4225284 83385 SH OTR ALL 83385 0 0 Dr Pepper Snapple Group Inc. COMMON STOCKS 26138E109 1847401 20375 SH OTR ALL 20375 0 0 Dun & Bradstreet Corp COMMON STOCKS 26483E100 1580193 13025 SH OTR ALL 13025 0 0 Dycom Industries CONVERTIBLE BOND 267475AB7 1038941 947 SH OTR ALL 947 0 0 Entertainment Properties CONVERTIBLE PREFERRED STOCK 26884U307 351372 9793 SH OTR ALL 9793 0 0 Equifax Inc COMMON STOCKS 294429105 1767538 14950 SH OTR ALL 14950 0 0 Expedia Inc. COMMON STOCKS 30212P303 1649356 14560 SH OTR ALL 14560 0 0 Fastenal Co. COMMON STOCKS 311900104 1669904 35545 SH OTR ALL 35545 0 0 Fidelity Natl Inform COMMON STOCKS 31620M106 1950755 25790 SH OTR ALL 25790 0 0 Financial Select Sector SPDR Fund EXCHANGE TRADED FUND 81369Y605 118668 5104 SH OTR ALL 5104 0 0 Ford Motor Co COMMON STOCKS 345370860 2120396 174806 SH OTR ALL 174806 0 0 Global Payments Inc COMMON STOCKS 37940X102 1649528 23765 SH OTR ALL 23765 0 0 Goldman Sachs Group COMMON STOCKS 38141G104 2780014 11610 SH OTR ALL 11610 0 0 Grainger W W Inc COMMON STOCKS 384802104 1673361 7205 SH OTR ALL 7205 0 0 Great Plains Energy Inc. 7 percent CONVERTIBLE PREFERRED STOCK 391164878 1521319 30030 SH OTR ALL 30030 0 0 Guggenheim Enhanced Short Duration Bond ETF EXCHANGE TRADED FUND 18383M654 405721 8095 SH OTR ALL 8095 0 0 Harley-Davidson, Inc COMMON STOCKS 412822108 1623602 27830 SH OTR ALL 27830 0 0 Harman Intl Inds Inc COMMON STOCKS 413086109 1675737 15075 SH OTR ALL 15075 0 0 Hess Corp - Conv Pr CONVERTIBLE PREFERRED STOCK 42809H404 1559897 21150 SH OTR ALL 21150 0 0 Hewlett Packard Co COMMON STOCKS 40434L105 1825691 123025 SH OTR ALL 123025 0 0 Home Depot Inc COMMON STOCKS 437076102 4125641 30770 SH OTR ALL 30770 0 0 HUMANA INC COMMON STOCKS 444859102 1989292 9750 SH OTR ALL 9750 0 0 Illumina Inc CONVERTIBLE BOND 452327AF6 2530606 2641 SH OTR ALL 2641 0 0 INTEL CORP COMMON STOCKS 458140100 4258388 117408 SH OTR ALL 117408 0 0 Intercontinental Exchange Group. Inc. COMMON STOCKS 45866F104 1944515 34465 SH OTR ALL 34465 0 0 International Paper Co COMMON STOCKS 460146103 1816137 34228 SH OTR ALL 34228 0 0 Intuit COMMON STOCKS 461202103 1936335 16895 SH OTR ALL 16895 0 0 Invesco Ltd. COMMON STOCKS G491BT108 1592698 52495 SH OTR ALL 52495 0 0 iShares 1-3 Year Credit Bond EXCHANGE TRADED FUND 464288646 313770 2990 SH OTR ALL 2990 0 0 iShares Currency Hedged Germany MSCI ETF EXCHANGE TRADED FUND 46434V704 449383 17391 SH OTR ALL 17391 0 0 iShares Currency Hedged MSCI Spain ETF EXCHANGE TRADED FUND 46435G813 434934 21760 SH OTR ALL 21760 0 0 iShares Floating Rate Bond ETF EXCHANGE TRADED FUND 46429B655 540375 10652 SH OTR ALL 10652 0 0 iShares GNMA Bond Fund EXCHANGE TRADED FUND 46429B333 88827 1788 SH OTR ALL 1788 0 0 iShares High Yield Hedged EXCHANGE TRADED FUND 46431W606 57599 643 SH OTR ALL 643 0 0 iShares iBoxx High Yield Corp Bond ETF EXCHANGE TRADED FUND 464288513 323004 3732 SH OTR ALL 3732 0 0 iShares iBoxx Investment Grade EXCHANGE TRADED FUND 464287242 579103 4942 SH OTR ALL 4942 0 0 ISHARES INC MSCI SINGAPORE INDEX FD EXCHANGE TRADED FUND 46434G780 405376 20340 SH OTR ALL 20340 0 0 iShares Interest Rate Hedged 10plus Year EXCHANGE TRADED FUND 46431W812 116012 4661 SH OTR ALL 4661 0 0 iShares Intermediate Credit EXCHANGE TRADED FUND 464288638 561289 5188 SH OTR ALL 5188 0 0 iShares Lehman 1-3 Tr EXCHANGE TRADED FUND 464287457 111811 1324 SH OTR ALL 1324 0 0 iShares MBS ETF EXCHANGE TRADED FUND 464288588 604861 5688 SH OTR ALL 5688 0 0 iShares MSCI Hong Kong Index Fund EXCHANGE TRADED FUND 464286871 423711 21751 SH OTR ALL 21751 0 0 iShares MSCI India ETF EXCHANGE TRADED FUND 46429B598 436547 16283 SH OTR ALL 16283 0 0 iShares MSCI Taiwan Index EXCHANGE TRADED FUND 46434G772 415438 14145 SH OTR ALL 14145 0 0 iShares MSCI United Kingdom EXCHANGE TRADED FUND 46435G334 431992 14076 SH OTR ALL 14076 0 0 iShares TIPS Bond ETF EXCHANGE TRADED FUND 464287176 22634 200 SH OTR ALL 200 0 0 J P Morgan Chase & Co COMMON STOCKS 46625H100 7156115 82931 SH OTR ALL 82931 0 0 Janus Capitol Group Inc. CONVERTIBLE BOND 47102XAH8 1045159 797 SH OTR ALL 797 0 0 JB Hunt COMMON STOCKS 445658107 1599228 16475 SH OTR ALL 16475 0 0 Johnson & Johnson COMMON STOCKS 478160104 979745 8504 SH OTR ALL 8504 0 0 JPMorgan Chase & Co PREFERRED STOCK 48127A161 315991 11760 SH OTR ALL 11760 0 0 Keycorp COMMON STOCKS 493267108 1829101 100115 SH OTR ALL 100115 0 0 Kinder Morgan Inc/Delaware CONVERTIBLE PREFERRED STOCK 49456B200 244065 5000 SH OTR ALL 5000 0 0 Kla-Tencor Corp COMMON STOCKS 482480100 1734107 22040 SH OTR ALL 22040 0 0 Kohl's Corp COMMON STOCKS 500255104 1418292 28722 SH OTR ALL 28722 0 0 Lam Research Corp COMMON STOCKS 512807108 1796881 16995 SH OTR ALL 16995 0 0 Lam Research Corp 1.25 CONVERTIBLE BOND 512807AL2 5121853 2913 SH OTR ALL 2913 0 0 Lauder Estee Cos Inc COMMON STOCKS 518439104 1911485 24990 SH OTR ALL 24990 0 0 Legg Mason Inc COMMON STOCKS 524901105 1423566 47595 SH OTR ALL 47595 0 0 Leggett & Platt Inc COMMON STOCKS 524660107 1607712 32891 SH OTR ALL 32891 0 0 Leucadia National Corp COMMON STOCKS 527288104 1607156 69125 SH OTR ALL 69125 0 0 Linear Technology Co COMMON STOCKS 535678106 1755152 28150 SH OTR ALL 28150 0 0 Lowe's Cos Inc COMMON STOCKS 548661107 2367940 33295 SH OTR ALL 33295 0 0 LyondellBasell Industries NV COMMON STOCKS N53745100 835325 9738 SH OTR ALL 9738 0 0 M & T Bk Corp COMMON STOCKS 55261F104 1888892 12075 SH OTR ALL 12075 0 0 Macquarie Infrastructure CONVERTIBLE BOND 55608BAA3 3282620 2764 SH OTR ALL 2764 0 0 Macquarie Infrastructure Corp COMMON STOCKS 55608B105 953765 11674 SH OTR ALL 11674 0 0 Marathon Oil Corp COMMON STOCKS 565849106 1649816 95310 SH OTR ALL 95310 0 0 Marsh & Mclennan Cos COMMON STOCKS 571748102 2045746 30267 SH OTR ALL 30267 0 0 Martin Marietta Materials COMMON STOCKS 573284106 1700464 7676 SH OTR ALL 7676 0 0 Mckesson Corp COMMON STOCKS 58155Q103 1983575 14123 SH OTR ALL 14123 0 0 Medtronic Inc COMMON STOCKS G5960L103 3281209 46065 SH OTR ALL 46065 0 0 Microchip Technology COMMON STOCKS 595017104 1727559 26930 SH OTR ALL 26930 0 0 Micron Technology CONVERTIBLE BOND 595112AY9 1215258 1214 SH OTR ALL 1214 0 0 Microsoft Corp COMMON STOCKS 594918104 9978689 160584 SH OTR ALL 160584 0 0 Moody's Corp COMMON STOCKS 615369105 1733153 18385 SH OTR ALL 18385 0 0 Morgan Stanley COMMON STOCKS 617446448 2383322 56410 SH OTR ALL 56410 0 0 Morgan Stanley Repstng 1/1000 Non Cuml PFD F Pe PREFERRED STOCK 61763E207 316205 11694 SH OTR ALL 11694 0 0 Newmont Mining Corp CONVERTIBLE BOND 651639AJ5 1227372 1182 SH OTR ALL 1182 0 0 NextEra Energy Inc COMMON STOCKS 65339F101 548201 4589 SH OTR ALL 4589 0 0 Northern Trust Corporation COMMON STOCKS 665859104 1803707 20255 SH OTR ALL 20255 0 0 Nustar Logistics Lp PREFERRED STOCK 67059T204 325518 12617 SH OTR ALL 12617 0 0 NVIDIA Corp CONVERTIBLE BOND 67066GAC8 4349982 820 SH OTR ALL 820 0 0 NXP Semiconductor NV CONVERTIBLE BOND 62952QAB6 3196035 2805 SH OTR ALL 2805 0 0 Old Republic Intl Corp CONVERTIBLE BOND 680223AH7 2375657 1862 SH OTR ALL 1862 0 0 Omega Healthcare Investors Inc REITS - usd 681936100 766901 24533 SH OTR ALL 24533 0 0 Omnicom Group COMMON STOCKS 681919106 1846887 21700 SH OTR ALL 21700 0 0 Paychex Inc COMMON STOCKS 704326107 2830250 46489 SH OTR ALL 46489 0 0 People's United Financial COMMON STOCKS 712704105 1594973 82385 SH OTR ALL 82385 0 0 Perkinelmer Inc COMMON STOCKS 714046109 1587446 30440 SH OTR ALL 30440 0 0 Pfizer Inc COMMON STOCKS 717081103 848507 26124 SH OTR ALL 26124 0 0 Pioneer Nat Res Co COMMON STOCKS 723787107 1927649 10705 SH OTR ALL 10705 0 0 PNC FINANCIAL SERVICES GROUP INC COMMON STOCKS 693475105 2443879 20895 SH OTR ALL 20895 0 0 Priceline Com Inc CONVERTIBLE BOND 741503AQ9 3356545 2123 SH OTR ALL 2123 0 0 Proctor & Gamble Co COMMON STOCKS 742718109 932699 11093 SH OTR ALL 11093 0 0 Progressive Corp Ohi COMMON STOCKS 743315103 1920905 54110 SH OTR ALL 54110 0 0 Prudential Finl Inc COMMON STOCKS 744320102 2183907 20987 SH OTR ALL 20987 0 0 Quest Diagnostics In COMMON STOCKS 74834L100 1764020 19195 SH OTR ALL 19195 0 0 Red Hat Inc. CONVERTIBLE BOND 756577AD4 2247452 1908 SH OTR ALL 1908 0 0 Robert Half International, Inc. COMMON STOCKS 770323103 1631447 33445 SH OTR ALL 33445 0 0 Roper Industries Inc COMMON STOCKS 776696106 1820730 9945 SH OTR ALL 9945 0 0 RPM International Inc. CONVERTIBLE BOND 749685AT0 2010384 1679 SH OTR ALL 1679 0 0 Ryder Sys Inc COMMON STOCKS 783549108 1418826 19060 SH OTR ALL 19060 0 0 S&P Global Inc. COMMON STOCKS 78409V104 1910448 17765 SH OTR ALL 17765 0 0 Safeway Casa Ley CVR WARRANTS 786cvr209 84724 83481 SH OTR ALL 83481 0 0 Safeway PDC, LLC CVR WARRANTS 786cvr308 4073 83481 SH OTR ALL 83481 0 0 Schlumberger Ltd COMMON STOCKS 806857108 3324000 39595 SH OTR ALL 39595 0 0 Schwab Charles Corp COMMON STOCKS 808513105 2254921 57130 SH OTR ALL 57130 0 0 Sealed Air Corp New COMMON STOCKS 81211K100 1556068 34320 SH OTR ALL 34320 0 0 Sempra Energy COMMON STOCKS 816851109 1950403 19380 SH OTR ALL 19380 0 0 Sherwin Williams Co COMMON STOCKS 824348106 1847856 6876 SH OTR ALL 6876 0 0 Signet Jewlers Ltd. COMMON STOCKS G81276100 1588281 16850 SH OTR ALL 16850 0 0 Six Flags Entertainment COMMON STOCKS 83001A102 987781 16474 SH OTR ALL 16474 0 0 SKYWORKS SOLUTIONS INC COMMON STOCKS 83088M102 1665664 22310 SH OTR ALL 22310 0 0 SPDR Barclays Convertible Securities ETF EXCHANGE TRADED FUND 78464A359 387796 8495 SH OTR ALL 8495 0 0 Spdr S&P 500 EXCHANGE TRADED FUND 78462F103 502048 2246 SH OTR ALL 2246 0 0 Spectra Energy Corp COMMON STOCKS 847560109 2363907 57530 SH OTR ALL 57530 0 0 Spectra Energy Partners LP COMMON STOCKS 84756N109 557506 12162 SH OTR ALL 12162 0 0 Spire Inc CONVERTIBLE PREFERRED STOCK 505597500 2258240 39256 SH OTR ALL 39256 0 0 Spirit Realty Capital CONVERTIBLE BOND 84860WAA0 2254065 2143 SH OTR ALL 2143 0 0 Staples Inc COMMON STOCKS 855030102 1488272 164450 SH OTR ALL 164450 0 0 Starbucks Corp COMMON STOCKS 855244109 2651357 47755 SH OTR ALL 47755 0 0 Stericycle Inc CONVERTIBLE PREFERRED STOCK 858912207 2004589 31488 SH OTR ALL 31488 0 0 Symantec Corp COMMON STOCKS 871503108 1725455 72225 SH OTR ALL 72225 0 0 T.Rowe Price Group Inc COMMON STOCKS 74144T108 1746408 23205 SH OTR ALL 23205 0 0 Target Corp COMMON STOCKS 87612E106 843285 11675 SH OTR ALL 11675 0 0 TCP Capital Corp CONVERTIBLE BOND 87238QAB9 1045916 1000 SH OTR ALL 1000 0 0 TE Connectivity Ltd COMMON STOCKS H84989104 1870906 27005 SH OTR ALL 27005 0 0 Tesoro Corporation COMMON STOCKS 881609101 1637413 18724 SH OTR ALL 18724 0 0 Teva Pharmaceutical Cv Pfd CONVERTIBLE PREFERRED STOCK M8769Q136 3168868 4889 SH OTR ALL 4889 0 0 Texas Instrs Inc COMMON STOCKS 882508104 2721051 37290 SH OTR ALL 37290 0 0 Thermo Fisher Scientific Inc COMMON STOCKS 883556102 2397289 16990 SH OTR ALL 16990 0 0 TPG Specialty Lending CONVERTIBLE BOND 87265KAB8 2439866 2376 SH OTR ALL 2376 0 0 TRACTOR SUPPLY COMPANY COMMON STOCKS 892356106 1675021 22095 SH OTR ALL 22095 0 0 Tyson Foods Inc CONVERTIBLE PREFERRED STOCK 902494301 2113641 31165 SH OTR ALL 31165 0 0 Union Pac Corp COMMON STOCKS 907818108 2839276 27385 SH OTR ALL 27385 0 0 United Parcel Services COMMON STOCKS 911312106 1023162 8925 SH OTR ALL 8925 0 0 Unitedhealth Group Inc COMMON STOCKS 91324P102 3804310 23771 SH OTR ALL 23771 0 0 Universal Health Services - B COMMON STOCKS 913903100 1623358 15260 SH OTR ALL 15260 0 0 Valero Energy Corp COMMON STOCKS 91913Y100 2007241 29380 SH OTR ALL 29380 0 0 Vanguard Short-Term Corporate Bond ETF EXCHANGE TRADED FUND 92206C409 111673 1407 SH OTR ALL 1407 0 0 VEREIT CONVERTIBLE BOND 02917TAA2 999999 975 SH OTR ALL 975 0 0 Vodafone Group Plc-Sp Adr AMERICAN DEPOSITARY RECEIPT 92857W308 464 19 SH OTR ALL 19 0 0 Vulcan Materials Co COMMON STOCKS 929160109 1768744 14133 SH OTR ALL 14133 0 0 W P Carey Inc REITS - usd 92936U109 848532 14360 SH OTR ALL 14360 0 0 Walt Disney Co COMMON STOCKS 254687106 3832273 36771 SH OTR ALL 36771 0 0 Weatherford Bermuda CONVERTIBLE BOND 947075AH0 1291720 1073 SH OTR ALL 1073 0 0 Wells Fargo & Co PREFERRED STOCK 949746556 298967 11845 SH OTR ALL 11845 0 0 Wells Fargo & Company PFD CONVERTIBLE PREFERRED STOCK 949746804 3183769 2679 SH OTR ALL 2679 0 0 Welltower Inc Pfd CONVERTIBLE PREFERRED STOCK 95040Q203 1844200 30461 SH OTR ALL 30461 0 0 Western Un Co COMMON STOCKS 959802109 1667770 76785 SH OTR ALL 76785 0 0 Weyerhaeuser Co COMMON STOCKS 962166104 1751238 58200 SH OTR ALL 58200 0 0 Whole Foods Market Inc COMMON STOCKS 966837106 1635355 53165 SH OTR ALL 53165 0 0 Williams Cos Inc Del COMMON STOCKS 969457100 1891568 60744 SH OTR ALL 60744 0 0 Willis Tower Watson PLC COMMON STOCKS G96629103 1777584 14537 SH OTR ALL 14537 0 0 Wisconsin Energy Corp COMMON STOCKS 92939U106 930482 15865 SH OTR ALL 15865 0 0 Xilinx Inc COMMON STOCKS 983919101 1885958 31240 SH OTR ALL 31240 0 0 Xilinx Inc CONVERTIBLE BOND 983919AF8 3922412 1866 SH OTR ALL 1866 0 0 Xl Group Plc COMMON STOCKS G98294104 1724579 46285 SH OTR ALL 46285 0 0 Zions Bancorp COMMON STOCKS 989701107 1668445 38765 SH OTR ALL 38765 0 0