Chief Executive Officer

0000909012-20-000065.txt : 20200428 0000909012-20-000065.hdr.sgml : 20200428 20200428110640 ACCESSION NUMBER: 0000909012-20-000065 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200428 DATE AS OF CHANGE: 20200428 EFFECTIVENESS DATE: 20200428 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: 20823176 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 03-31-2020 03-31-2020 Laffer Investments

103 MURPHY COURT NASHVILLE TN 37203

13F HOLDINGS REPORT 028-10975 N Arthur B. Laffer, Jr. Chief Executive Officer 615 460 0100 /s/ ARTHUR B. LAFFER Nashville TN 04-23-2020 0 126 128186739 false INFORMATION TABLE 2 aci_13f.xml 3M COMPANY COMMON STOCKS 88579Y101 702616 5147 SH SOLE 0 5147 0 0 Abbvie Inc COMMON STOCKS 00287Y109 1375305 18051 SH SOLE 0 18051 0 0 Alphabet Inc Class A COMMON STOCKS 02079k305 209151 180 SH SOLE 0 180 0 0 American Express Co COMMON STOCKS 025816109 113861 1330 SH SOLE 0 1330 0 0 Amgen Inc COMMON STOCKS 031162100 1969927 9717 SH SOLE 0 9717 0 0 Apple Computer Inc COMMON STOCKS 037833100 1264329 4972 SH SOLE 0 4972 0 0 Ares Capital Corp COMMON STOCKS 04010l103 339580 31501 SH SOLE 0 31501 0 0 AT&T Inc COMMON STOCKS 00206r102 777692 26679 SH SOLE 0 26679 0 0 BCE Inc COMMON STOCKS 05534b760 527502 12910 SH SOLE 0 12910 0 0 Berkshire Hathaway Inc Cl B COMMON STOCKS 084670702 83553 457 SH SOLE 0 457 0 0 Blackrock Inc COMMON STOCKS 09247X101 776107 1764 SH SOLE 0 1764 0 0 Broadcom Corp New COMMON STOCKS 11135f101 1199963 5061 SH SOLE 0 5061 0 0 CHEVRON CORP COMMON STOCKS 166764100 728150 10049 SH SOLE 0 10049 0 0 Chipotle Mexican Grill Inc. COMMON STOCKS 169656105 46462 71 SH SOLE 0 71 0 0 Cisco Sys Inc COMMON STOCKS 17275r102 1736676 44179 SH SOLE 0 44179 0 0 COCA-COLA COMPANY COMMON STOCKS 191216100 965756 21825 SH SOLE 0 21825 0 0 Comcast Corp Cl A COMMON STOCKS 20030N101 435800 12676 SH SOLE 0 12676 0 0 Crown Castle Intl Corp COMMON STOCKS 22822V101 298763 2069 SH SOLE 0 2069 0 0 Dominion Res Inc Va COMMON STOCKS 25746U109 273600 3790 SH SOLE 0 3790 0 0 Eaton Corp COMMON STOCKS G29183103 491311 6324 SH SOLE 0 6324 0 0 Equinix Inc COMMON STOCKS 29444u700 84316 135 SH SOLE 0 135 0 0 Facebook Inc. COMMON STOCKS 30303M102 161462 968 SH SOLE 0 968 0 0 Fedex Corp COMMON STOCKS 31428X106 152423 1257 SH SOLE 0 1257 0 0 Goldman Sachs Group COMMON STOCKS 38141G104 401006 2594 SH SOLE 0 2594 0 0 Home Depot Inc COMMON STOCKS 437076102 1722959 9228 SH SOLE 0 9228 0 0 INTEL CORP COMMON STOCKS 458140100 930431 17192 SH SOLE 0 17192 0 0 International Paper Co COMMON STOCKS 460146103 377980 12142 SH SOLE 0 12142 0 0 Intl Business Machines COMMON STOCKS 459200101 501181 4518 SH SOLE 0 4518 0 0 J P Morgan Chase & Co COMMON STOCKS 46625h100 1337665 14858 SH SOLE 0 14858 0 0 Johnson & Johnson COMMON STOCKS 478160104 2021368 15415 SH SOLE 0 15415 0 0 KINDER MORGAN INC DE COMMON STOCKS 49456B101 233535 16777 SH SOLE 0 16777 0 0 Lowe's Cos Inc COMMON STOCKS 548661107 142670 1658 SH SOLE 0 1658 0 0 LyondellBasell Industries NV COMMON STOCKS n53745100 296142 5967 SH SOLE 0 5967 0 0 Magellan Midstream COMMON STOCKS 559080106 170408 4670 SH SOLE 0 4670 0 0 McDonalds Corp COMMON STOCKS 580135101 1394396 8433 SH SOLE 0 8433 0 0 Medtronic Inc COMMON STOCKS G5960L103 1063222 11790 SH SOLE 0 11790 0 0 Microsoft Corp COMMON STOCKS 594918104 1557543 9876 SH SOLE 0 9876 0 0 Morgan Stanley COMMON STOCKS 617446448 993514 29221 SH SOLE 0 29221 0 0 NextEra Energy Inc COMMON STOCKS 65339f101 255779 1063 SH SOLE 0 1063 0 0 Oneok Inc New COMMON STOCKS 682680103 199757 9159 SH SOLE 0 9159 0 0 Oracle Systems Corp COMMON STOCKS 68389X105 138658 2869 SH SOLE 0 2869 0 0 Palo Alta Networks COMMON STOCKS 697435105 93457 570 SH SOLE 0 570 0 0 PEPSICO INC COMMON STOCKS 713448108 661390 5507 SH SOLE 0 5507 0 0 Philip Morris Intl Inc COMMON STOCKS 718172109 561427 7695 SH SOLE 0 7695 0 0 Proctor & Gamble Co COMMON STOCKS 742718109 514030 4673 SH SOLE 0 4673 0 0 Recruit Holdings Co COMMON STOCKS j6433a101 2486 96 SH SOLE 0 96 0 0 Salesforce.com Inc COMMON STOCKS 79466L302 126414 878 SH SOLE 0 878 0 0 Splunk Inc COMMON STOCKS 848637104 99595 789 SH SOLE 0 789 0 0 Starbucks Corp COMMON STOCKS 855244109 1793715 27285 SH SOLE 0 27285 0 0 T.Rowe Price Group Inc COMMON STOCKS 74144T108 647907 6635 SH SOLE 0 6635 0 0 Texas Instrs Inc COMMON STOCKS 882508104 1629358 16305 SH SOLE 0 16305 0 0 Tjx Cos Inc New COMMON STOCKS 872540109 37435 783 SH SOLE 0 783 0 0 Tyson Foods Inc COMMON STOCKS 902494103 450344 7782 SH SOLE 0 7782 0 0 United Parcel Services COMMON STOCKS 911312106 1203996 12888 SH SOLE 0 12888 0 0 United Technologies COMMON STOCKS 913017109 971787 10302 SH SOLE 0 10302 0 0 Valero Energy Corp COMMON STOCKS 91913y100 316884 6986 SH SOLE 0 6986 0 0 Visa. Inc - Class A Shares COMMON STOCKS 92826C839 47691 296 SH SOLE 0 296 0 0 Wal-Mart Stores Inc COMMON STOCKS 931142103 1349691 11879 SH SOLE 0 11879 0 0 Walt Disney Co COMMON STOCKS 254687106 99015 1025 SH SOLE 0 1025 0 0 Ares Capital Corp CONVERTIBLE BOND 04010LAW3 2363901 2657 SH SOLE 0 2657 0 0 Blackrock TCP Cap CONVERTIBLE BOND 87238QAD5 2461767 2767 SH SOLE 0 2767 0 0 Booking Holdings Inc CONVERTIBLE BOND 741503AX4 2684328 2668 SH SOLE 0 2668 0 0 CSG Systems International CONVERTIBLE BOND 126349AF6 2105592 2034 SH SOLE 0 2034 0 0 Cypress Semiconductor Co CONVERTIBLE BOND 232806AP4 1378344 1142 SH SOLE 0 1142 0 0 Deutsche Bank AG London/VOYA CONVERTIBLE BOND 25155MKM2 2756603 3013 SH SOLE 0 3013 0 0 Fortive Corporation CONVERTIBLE BOND 34959JAK4 2176945 2327 SH SOLE 0 2327 0 0 HANNON ARMSTRONG CONVERTIBLE BOND 41068XAB6 2228284 2332 SH SOLE 0 2332 0 0 Hercules Capital Inc CONVERTIBLE BOND 427096AF9 2091529 2282 SH SOLE 0 2282 0 0 ILLUMINA INC CONVERTIBLE BOND 452327AH2 2767060 2250 SH SOLE 0 2250 0 0 New Mountain Finance CONVERTIBLE BOND 647551AC4 2047840 2427 SH SOLE 0 2427 0 0 ON Semiconductor Corp CONVERTIBLE BOND 682189AP0 1651398 1627 SH SOLE 0 1627 0 0 Palo Alto Networks CONVERTIBLE BOND 697435ad7 1276112 1320 SH SOLE 0 1320 0 0 Spirit Realty Capital CONVERTIBLE BOND 84860WAB8 2301870 2377 SH SOLE 0 2377 0 0 Starwood Property Trust CONVERTIBLE BOND 85571BAH8 1063097 1180 SH SOLE 0 1180 0 0 Synaptics Inc CONVERTIBLE BOND 87157DAD1 1654264 1587 SH SOLE 0 1587 0 0 TPG Specialty Lending CONVERTIBLE BOND 87265KAD4 2504974 2693 SH SOLE 0 2693 0 0 Vereit Inc CONVERTIBLE BOND 02917TAB0 2830253 2813 SH SOLE 0 2813 0 0 Verint Systems Inc CONVERTIBLE BOND 92343XAA8 1578951 1623 SH SOLE 0 1623 0 0 Western Digital Corp CONVERTIBLE BOND 958102AP0 1241538 1394 SH SOLE 0 1394 0 0 American Electric Power CONVERTIBLE PREFERRED STOCK 025537127 775152 16000 SH SOLE 0 16000 0 0 AMG Capital Trust II CONVERTIBLE PREFERRED STOCK 00170F209 1009158 30990 SH SOLE 0 30990 0 0 Assurant Inc CONVERTIBLE PREFERRED STOCK 04621X207 2246261 21230 SH SOLE 0 21230 0 0 Becton Dickinson and Co CONVERTIBLE PREFERRED STOCK 075887208 3730472 68370 SH SOLE 0 68370 0 0 Broadcom Inc CONVERTIBLE PREFERRED STOCK 11135F200 2794574 2965 SH SOLE 0 2965 0 0 Bunge Ltd. Perpetual Conv Pfd CONVERTIBLE PREFERRED STOCK G16962204 1562490 16618 SH SOLE 0 16618 0 0 Centerpoint Energy Inc CONVERTIBLE PREFERRED STOCK 15189T503 1710852 58635 SH SOLE 0 58635 0 0 Crown Castle Int Corp CONVERTIBLE PREFERRED STOCK 22822V309 4228310 3276 SH SOLE 0 3276 0 0 Danaher Corp CONVERTIBLE PREFERRED STOCK 235851300 3620052 3443 SH SOLE 0 3443 0 0 Dominion Energy CONVERTIBLE PREFERRED STOCK 25746U133 3728504 40014 SH SOLE 0 40014 0 0 DTE Energy Co CONVERTIBLE PREFERRED STOCK 233331842 1879054 47835 SH SOLE 0 47835 0 0 Energizer Holdings Inc CONVERTIBLE PREFERRED STOCK 29272W208 221307 3210 SH SOLE 0 3210 0 0 Entertainment Properties CONVERTIBLE PREFERRED STOCK 26884U307 176425 8202 SH SOLE 0 8202 0 0 Fortive Corporation CONVERTIBLE PREFERRED STOCK 34959J207 1872525 2574 SH SOLE 0 2574 0 0 International Flavor & Fragrances CONVERTIBLE PREFERRED STOCK 459506309 1717555 44742 SH SOLE 0 44742 0 0 Sempra Energy CONVERTIBLE PREFERRED STOCK 816851406 2380185 25104 SH SOLE 0 25104 0 0 South Jersey Industries CONVERTIBLE PREFERRED STOCK 838518116 1336459 31933 SH SOLE 0 31933 0 0 Southern Co CONVERTIBLE PREFERRED STOCK 842587602 1491950 32515 SH SOLE 0 32515 0 0 Stanley Black & Decker CONVERTIBLE PREFERRED STOCK 854502846 1917824 27267 SH SOLE 0 27267 0 0 Wells Fargo & Company PFD CONVERTIBLE PREFERRED STOCK 949746804 2761350 2172 SH SOLE 0 2172 0 0 Franklin FTSE Switzerland ETF EXCHANGE TRADED FUND 35473P694 190653 7840 SH SOLE 0 7840 0 0 Franklin FTSE United Kingdon ETF EXCHANGE TRADED FUND 35473P678 159482 8990 SH SOLE 0 8990 0 0 Franklin High Yield EXCHANGE TRADED FUND 35473P629 190135 8443 SH SOLE 0 8443 0 0 Guggenheim Enhanced Short Duration Bond ETF EXCHANGE TRADED FUND 46090A887 120562 2445 SH SOLE 0 2445 0 0 iShares 0-5 Year Investment Grade Corporate Bond EXCHANGE TRADED FUND 46434V100 644449 12853 SH SOLE 0 12853 0 0 iShares 1-3 Year Credit Bond EXCHANGE TRADED FUND 464288646 558733 10671 SH SOLE 0 10671 0 0 iShares Convertible Bond ETF EXCHANGE TRADED FUND 46435G102 312406 5747 SH SOLE 0 5747 0 0 iShares Currency Hedged Canada EXCHANGE TRADED FUND 46435G706 172389 7981 SH SOLE 0 7981 0 0 ISHARES CURRENCY HEDGED MSCI GER ETF EXCHANGE TRADED FUND 46434v704 164009 7586 SH SOLE 0 7586 0 0 iShares Floating Rate Bond ETF EXCHANGE TRADED FUND 46429B655 702294 14409 SH SOLE 0 14409 0 0 iShares iBoxx High Yield Corp Bond ETF EXCHANGE TRADED FUND 464288513 199842 2593 SH SOLE 0 2593 0 0 iShares iBoxx Investment Grade EXCHANGE TRADED FUND 464287242 220341 1784 SH SOLE 0 1784 0 0 iShares Interest Rate Hedged Long-Term Corporate EXCHANGE TRADED FUND 46431W812 203361 9810 SH SOLE 0 9810 0 0 iShares MBS ETF EXCHANGE TRADED FUND 464288588 427513 3871 SH SOLE 0 3871 0 0 ISHARES MSCI FRANCE ETF EXCHANGE TRADED FUND 464286707 162908 6950 SH SOLE 0 6950 0 0 iShares TIPS Bond ETF EXCHANGE TRADED FUND 464287176 23584 200 SH SOLE 0 200 0 0 Market Vectors Investment Grade Floating Rate Bo EXCHANGE TRADED FUND 92189F486 172638 7309 SH SOLE 0 7309 0 0 SPDR S&P 500 ETF EXCHANGE TRADED FUND 78462f103 200271 777 SH SOLE 0 777 0 0 Vanguard Short-Term Corporate Bond ETF EXCHANGE TRADED FUND 92206C409 180743 2285 SH SOLE 0 2285 0 0 Brunswick Corp PREFERRED STOCK 117043406 244323 10883 SH SOLE 0 10883 0 0 Citigroup Inc PREFERRED STOCK 172967358 257087 9930 SH SOLE 0 9930 0 0 Citizens Financial Group PREFERRED STOCK 174610204 257937 10815 SH SOLE 0 10815 0 0 Digital Realty Trust PREFERRED STOCK 253868848 282153 11201 SH SOLE 0 11201 0 0 Energy Transfer Partners 7 5/8 percent PREFERRED STOCK 29278N400 160782 12660 SH SOLE 0 12660 0 0 Morgan Stanley PFD Perpetual PREFERRED STOCK 61763E207 266170 10377 SH SOLE 0 10377 0 0 Nustar Logistics LP PREFERRED STOCK 67059T204 150022 11331 SH SOLE 0 11331 0 0 Vereit Inc PREFERRED STOCK 92339V209 177639 8038 SH SOLE 0 8038 0 0