Chief Executive Officer

0000909012-15-000200.txt : 20150511 0000909012-15-000200.hdr.sgml : 20150511 20150511151032 ACCESSION NUMBER: 0000909012-15-000200 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150331 FILED AS OF DATE: 20150511 DATE AS OF CHANGE: 20150511 EFFECTIVENESS DATE: 20150511 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: 15850318 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 03-31-2015 03-31-2015 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 05-11-2015 0 202 714347336 false INFORMATION TABLE 2 aci_13f.xml Ace Ltd COMMON STOCKS H0023R105 2963850 26584 SH OTR ALL 26584 0 0 ACTAVIS INC COMMON STOCKS G0083B108 2193584 7370 SH OTR ALL 7370 0 0 Altera Corp COMMON STOCKS 021441100 2523323 58805 SH OTR ALL 58805 0 0 Altria Group Inc COMMON STOCKS 02209S103 214836 4295 SH OTR ALL 4295 0 0 Amphenol Corp COMMON STOCKS 032095101 3049863 51754 SH OTR ALL 51754 0 0 Analog Devices Inc COMMON STOCKS 032654105 2679957 42539 SH OTR ALL 42539 0 0 Apartment Investment & Management Company COMMON STOCKS 03748R101 2649991 67327 SH OTR ALL 67327 0 0 Applied Materials Inc COMMON STOCKS 038222105 3025702 134118 SH OTR ALL 134118 0 0 ARES CAPITAL CORP COMMON STOCKS 04010L103 216565 12613 SH OTR ALL 12613 0 0 BCE INC NEW COMMON STOCKS 05534B760 12499038 295067 SH OTR ALL 295067 0 0 Bemis Company Inc COMMON STOCKS 081437105 2210654 47736 SH OTR ALL 47736 0 0 BLACKROCK INC COMMON STOCKS 09247X101 15358795 41982 SH OTR ALL 41982 0 0 Boeing Co COMMON STOCKS 097023105 14587273 97196 SH OTR ALL 97196 0 0 Bristol Myers Squibb COMMON STOCKS 110122108 4751973 73674 SH OTR ALL 73674 0 0 Broadcom Corp COMMON STOCKS 111320107 3092952 71439 SH OTR ALL 71439 0 0 Brown-Forman Corporation COMMON STOCKS 115637209 2389758 26450 SH OTR ALL 26450 0 0 CA INC COMMON STOCKS 12673P105 2285244 70078 SH OTR ALL 70078 0 0 Cablevision Sys Corp COMMON STOCKS 12686C109 1831427 100078 SH OTR ALL 100078 0 0 Centerpoint Energy, Inc. COMMON STOCKS 15189T107 1828981 89612 SH OTR ALL 89612 0 0 Centurylink Inc COMMON STOCKS 156700106 2222291 64321 SH OTR ALL 64321 0 0 Cigna Corp COMMON STOCKS 125509109 3490220 26964 SH OTR ALL 26964 0 0 Cintas Corp COMMON STOCKS 172908105 3127735 38316 SH OTR ALL 38316 0 0 Cisco Sys Inc COMMON STOCKS 17275R102 12856515 467085 SH OTR ALL 467085 0 0 Clorox Co COMMON STOCKS 189054109 2740211 24823 SH OTR ALL 24823 0 0 CME Group Inc COMMON STOCKS 12572Q105 3153464 33296 SH OTR ALL 33296 0 0 CMS Energy Corp COMMON STOCKS 125896100 2501476 71655 SH OTR ALL 71655 0 0 COCA-COLA COMPANY COMMON STOCKS 191216100 12810597 315921 SH OTR ALL 315921 0 0 Comerica Inc COMMON STOCKS 200340107 2068534 45835 SH OTR ALL 45835 0 0 Computer Sciences Co COMMON STOCKS 205363104 2371296 36325 SH OTR ALL 36325 0 0 Corning Inc COMMON STOCKS 219350105 3169779 139761 SH OTR ALL 139761 0 0 Danaher Corp COMMON STOCKS 235851102 3210578 37816 SH OTR ALL 37816 0 0 Darden Restaurants COMMON STOCKS 237194105 2904098 41882 SH OTR ALL 41882 0 0 Dr Pepper Snapple Group Inc. COMMON STOCKS 26138E109 3176870 40480 SH OTR ALL 40480 0 0 DTE Energy Co COMMON STOCKS 233331107 2333958 28925 SH OTR ALL 28925 0 0 Dun & Bradstreet Corp COMMON STOCKS 26483E100 2469775 19241 SH OTR ALL 19241 0 0 ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN COMMON STOCKS 29273R109 10132325 181745 SH OTR ALL 181745 0 0 Ensco International Spon Adr COMMON STOCKS G3157S106 801840 38056 SH OTR ALL 38056 0 0 Equifax Inc COMMON STOCKS 294429105 2772423 29811 SH OTR ALL 29811 0 0 Expedia Inc COMMON STOCKS 30212P303 3135941 33315 SH OTR ALL 33315 0 0 Exxon Mobil Corp COMMON STOCKS 30231G102 8500 100 SH OTR ALL 100 0 0 Family Dlr Stores Inc COMMON STOCKS 307000109 2341780 29553 SH OTR ALL 29553 0 0 Fastenal Co. COMMON STOCKS 311900104 1900043 45856 SH OTR ALL 45856 0 0 Fidelity Natl Inform COMMON STOCKS 31620M106 2934815 43121 SH OTR ALL 43121 0 0 Ford Motor Co COMMON STOCKS 345370860 12537731 776811 SH OTR ALL 776811 0 0 Frontier Communications COMMON STOCKS 35906A108 2756057 390930 SH OTR ALL 390930 0 0 General Electric Co COMMON STOCKS 369604103 12269663 494545 SH OTR ALL 494545 0 0 Glaxosmithkline PLC COMMON STOCKS 37733W105 11586096 251053 SH OTR ALL 251053 0 0 Graham Holdings Company COMMON STOCKS 384637104 3485821 3321 SH OTR ALL 3321 0 0 Grainger W W Inc COMMON STOCKS 384802104 2010044 8524 SH OTR ALL 8524 0 0 Harley-Davidson, Inc COMMON STOCKS 412822108 2123410 34959 SH OTR ALL 34959 0 0 Hershey Foods Corp COMMON STOCKS 427866108 2389347 23678 SH OTR ALL 23678 0 0 Hormel Foods Corp COMMON STOCKS 440452100 2538466 44652 SH OTR ALL 44652 0 0 Host Hotels & Resorts COMMON STOCKS 44107P104 2269826 112479 SH OTR ALL 112479 0 0 Interpublic Group of Companies Inc COMMON STOCKS 460690100 2561496 115800 SH OTR ALL 115800 0 0 Invesco Ltd. COMMON STOCKS G491BT108 2509718 63233 SH OTR ALL 63233 0 0 J P Morgan Chase & Co COMMON STOCKS 46625H100 12842536 211993 SH OTR ALL 211993 0 0 Jabil Circuit Inc COMMON STOCKS 466313103 2059123 88072 SH OTR ALL 88072 0 0 JOHNSON & JOHNSON COMMON STOCKS 478160104 12762114 126859 SH OTR ALL 126859 0 0 Keycorp COMMON STOCKS 493267108 2359778 166651 SH OTR ALL 166651 0 0 Kinder Morgan Inc COMMON STOCKS 49456B101 216273 5142 SH OTR ALL 5142 0 0 Kla-Tencor Corp COMMON STOCKS 482480100 2109573 36191 SH OTR ALL 36191 0 0 Kohl's Corp COMMON STOCKS 500255104 3311227 42316 SH OTR ALL 42316 0 0 Legg Mason Inc COMMON STOCKS 524901105 2880281 52179 SH OTR ALL 52179 0 0 Leggett & Platt Inc COMMON STOCKS 524660107 2826561 61327 SH OTR ALL 61327 0 0 Linear Technology Co COMMON STOCKS 535678106 2253280 48147 SH OTR ALL 48147 0 0 Lorillard Inc COMMON STOCKS 544147101 3057465 46786 SH OTR ALL 46786 0 0 LyondellBasell Industries NV COMMON STOCKS N53745100 14224039 162005 SH OTR ALL 162005 0 0 Marathon Oil Corp COMMON STOCKS 565849106 1770728 67818 SH OTR ALL 67818 0 0 Marsh & Mclennan Cos COMMON STOCKS 571748102 3004293 53562 SH OTR ALL 53562 0 0 Mcgraw Hill Financial, Inc. COMMON STOCKS 580645109 3431329 33185 SH OTR ALL 33185 0 0 Microchip Technology COMMON STOCKS 595017104 2272285 46468 SH OTR ALL 46468 0 0 Microsoft Corp COMMON STOCKS 594918104 13851233 340701 SH OTR ALL 340701 0 0 Moody's Corp COMMON STOCKS 615369105 3016739 29063 SH OTR ALL 29063 0 0 Morgan Stanley COMMON STOCKS 617446448 3385054 94846 SH OTR ALL 94846 0 0 National Grid Plc-Sp Adr COMMON STOCKS 636274300 212761 3293 SH OTR ALL 3293 0 0 NEXTERA ENERGY INC COMMON STOCKS 65339F101 14424159 138627 SH OTR ALL 138627 0 0 NGL Energy Partners LP COMMON STOCKS 62913M107 7399144 282087 SH OTR ALL 282087 0 0 Noble Corp PLC COMMON STOCKS G65431101 780702 54671 SH OTR ALL 54671 0 0 Nordstrom Inc COMMON STOCKS 655664100 2642528 32900 SH OTR ALL 32900 0 0 Northern Trust Corporation COMMON STOCKS 665859104 2495072 35823 SH OTR ALL 35823 0 0 Northstar Realty Financial Corp COMMON STOCKS 66704R704 15605130 861210 SH OTR ALL 861210 0 0 Omega Healthcare Investors Inc COMMON STOCKS 681936100 15232876 375471 SH OTR ALL 375471 0 0 Omnicom Group COMMON STOCKS 681919106 2679393 34360 SH OTR ALL 34360 0 0 Paragon Offshore PLC COMMON STOCKS G6S01W108 23690 18223 SH OTR ALL 18223 0 0 Paychex Inc COMMON STOCKS 704326107 16585274 334279 SH OTR ALL 334279 0 0 Peabody Energy Corp COMMON STOCKS 704549104 589997 119918 SH OTR ALL 119918 0 0 People's United Financial COMMON STOCKS 712704105 2063704 135770 SH OTR ALL 135770 0 0 Perkinelmer Inc COMMON STOCKS 714046109 2539510 49658 SH OTR ALL 49658 0 0 Perrigo Co Plc COMMON STOCKS G97822103 2696478 16288 SH OTR ALL 16288 0 0 PFIZER INC COMMON STOCKS 717081103 12636528 363223 SH OTR ALL 363223 0 0 PHILIP MORRIS INTL INC COMMON STOCKS 718172109 10709741 142171 SH OTR ALL 142171 0 0 Pioneer Nat Res Co COMMON STOCKS 723787107 2095381 12815 SH OTR ALL 12815 0 0 Pitney Bowes Inc COMMON STOCKS 724479100 2284847 97978 SH OTR ALL 97978 0 0 Plum Creek Timber Co COMMON STOCKS 729251108 1970675 45355 SH OTR ALL 45355 0 0 Quest Diagnostics In COMMON STOCKS 74834L100 2657704 34583 SH OTR ALL 34583 0 0 Reynolds American In COMMON STOCKS 761713106 2795610 40569 SH OTR ALL 40569 0 0 Robert Half International, Inc. COMMON STOCKS 770323103 2980973 49256 SH OTR ALL 49256 0 0 Roper Industries Inc COMMON STOCKS 776696106 2869304 16682 SH OTR ALL 16682 0 0 Ryder Sys Inc COMMON STOCKS 783549108 2687285 28320 SH OTR ALL 28320 0 0 Scana Corp COMMON STOCKS 80589M102 2108702 38347 SH OTR ALL 38347 0 0 Seagate Technology Plc COMMON STOCKS G7945M107 2650981 50951 SH OTR ALL 50951 0 0 S&P SELECT Healthcare SECTOR SPDR ETF COMMON STOCKS 81369Y209 38570 532 SH OTR ALL 532 0 0 Sempra Energy COMMON STOCKS 816851109 2740654 25139 SH OTR ALL 25139 0 0 Sherwin Williams Co COMMON STOCKS 824348106 3394939 11933 SH OTR ALL 11933 0 0 T.Rowe Price Group Inc COMMON STOCKS 74144T108 2395388 29580 SH OTR ALL 29580 0 0 Target Corp COMMON STOCKS 87612E106 12973379 158077 SH OTR ALL 158077 0 0 Teco Energy Inc COMMON STOCKS 872375100 2200173 113411 SH OTR ALL 113411 0 0 Tesoro Corporation COMMON STOCKS 881609101 3292374 36065 SH OTR ALL 36065 0 0 Tiffany & Co New COMMON STOCKS 886547108 2035583 23129 SH OTR ALL 23129 0 0 Travelers Companies COMMON STOCKS 89417E109 3160207 29226 SH OTR ALL 29226 0 0 Tupperware Brands Corp COMMON STOCKS 899896104 212306 3076 SH OTR ALL 3076 0 0 United Parcel Services COMMON STOCKS 911312106 13511510 139380 SH OTR ALL 139380 0 0 Unum Group COMMON STOCKS 91529Y106 2205908 65399 SH OTR ALL 65399 0 0 Valero Energy Corp COMMON STOCKS 91913Y100 3392537 53325 SH OTR ALL 53325 0 0 Vodafone Group Plc-Sp Adr COMMON STOCKS 92857W308 12210818 373648 SH OTR ALL 373648 0 0 Vulcan Materials Co COMMON STOCKS 929160109 3420810 40579 SH OTR ALL 40579 0 0 W P Carey Inc COMMON STOCKS 92936U109 13677452 201139 SH OTR ALL 201139 0 0 Weyerhaeuser Co COMMON STOCKS 962166104 2689460 81130 SH OTR ALL 81130 0 0 WILLIAMS COS INC DEL COMMON STOCKS 969457100 14889296 294313 SH OTR ALL 294313 0 0 Windstream Holdings Inc COMMON STOCKS 97382A101 1741264 235306 SH OTR ALL 235306 0 0 Wisconsin Energy Corp COMMON STOCKS 976657106 2347785 47430 SH OTR ALL 47430 0 0 Xilinx Inc COMMON STOCKS 983919101 1977356 46746 SH OTR ALL 46746 0 0 Xl Group Plc COMMON STOCKS G98290102 2484037 67501 SH OTR ALL 67501 0 0 Anthem Inc CONVERTIBLE BOND 94973VBG1 5474479 2617 SH OTR ALL 2617 0 0 Apollo Invt Corp CONVERTIBLE BOND 03761UAE6 1913818 1823 SH OTR ALL 1823 0 0 ARES CAPITAL CORP SR CONV NOTE B/E CONVERTIBLE BOND 04010LAB9 3114235 2955 SH OTR ALL 2955 0 0 Developers Diversified Realty Corp CONVERTIBLE BOND 251591AX1 2663374 2088 SH OTR ALL 2088 0 0 GILEAD SCIENCES INC SENIOR NOTE CONV B/E CONVERTIBLE BOND 375558AP8 5249010 1214 SH OTR ALL 1214 0 0 HEALTH CARE REIT INC SENIOR NOTE CONV B/E CONVERTIBLE BOND 42217KAR7 2503308 1626 SH OTR ALL 1626 0 0 Intel Corp CONVERTIBLE BOND 458140AF7 4144590 2605 SH OTR ALL 2605 0 0 INTEL CORP JR SUB DEBENTURE CONV CONVERTIBLE BOND 458140AD2 3149966 2484 SH OTR ALL 2484 0 0 Janus Capitol Group Inc. CONVERTIBLE BOND 47102XAH8 1247976 777 SH OTR ALL 777 0 0 Lam Research Corp 1.25 CONVERTIBLE BOND 512807AL2 2205209 1680 SH OTR ALL 1680 0 0 Macquarie Infrastructure CONVERTIBLE BOND 55608BAA3 1335065 1113 SH OTR ALL 1113 0 0 Novellus Systems CONVERTIBLE BOND 670008AD3 1406562 680 SH OTR ALL 680 0 0 NVIDIA Corp CONVERTIBLE BOND 67066GAC8 1141300 961 SH OTR ALL 961 0 0 OLD REPUBLIC INTL CORP SENIOR NOTE CONV B/E CONVERTIBLE BOND 680223AH7 2306614 1938 SH OTR ALL 1938 0 0 Priceline Com Inc CONVERTIBLE BOND 741503AQ9 3235682 2406 SH OTR ALL 2406 0 0 Prospect Capital Corp CONVERTIBLE BOND 74348TAD4 1617438 1551 SH OTR ALL 1551 0 0 Rayonier TRS Holdings Inc. CONVERTIBLE BOND 75508AAC0 1459994 1237 SH OTR ALL 1237 0 0 RPM International Inc. CONVERTIBLE BOND 749685AT0 1428334 1203 SH OTR ALL 1203 0 0 Sandisk Corp CONVERTIBLE BOND 80004CAD3 2548989 1864 SH OTR ALL 1864 0 0 Seacor Holdings Inc CONVERTIBLE BOND 811904AM3 1009386 967 SH OTR ALL 967 0 0 Starwood Ppty Tr Inc CONVERTIBLE BOND 85571BAA3 1182037 1067 SH OTR ALL 1067 0 0 Trinity Industires Inc CONVERTIBLE BOND 896522AF6 2045786 1288 SH OTR ALL 1288 0 0 Xilinx Inc CONVERTIBLE BOND 983919AF8 1175473 785 SH OTR ALL 785 0 0 Yahoo Inc Conv Bond CONVERTIBLE BOND 984332AF3 1270491 1174 SH OTR ALL 1174 0 0 ACTAVIS PUBLIC 5.5% PFD PFD CONV DUE 03/01/18 CONVERTIBLE PREFERRED STOCK g0083b116 1553119 1511 SH OTR ALL 1511 0 0 Alcoa Inc. CONVERTIBLE PREFERRED STOCK 013817309 1479819 33755 SH OTR ALL 33755 0 0 Alexandria Real Estate CONVERTIBLE PREFERRED STOCK 015271505 2205315 75200 SH OTR ALL 75200 0 0 American Tower Corp CONVERTIBLE PREFERRED STOCK 03027X308 1867465 18160 SH OTR ALL 18160 0 0 Banc of California Inc. CONVERTIBLE PREFERRED STOCK 05990K700 224995 3773 SH OTR ALL 3773 0 0 BUNGE LIMITED PERPETUAL CONV PFD SHS CONVERTIBLE PREFERRED STOCK G16962204 1533346 14645 SH OTR ALL 14645 0 0 CENTERPOINT ENERGY INC ZERO PREM EXCHG SUB NT CONVERTIBLE PREFERRED STOCK 15189T206 1172063 17896 SH OTR ALL 17896 0 0 Dominion Resources Inc CONVERTIBLE PREFERRED STOCK 25746U703 1393610 24815 SH OTR ALL 24815 0 0 Dominion Resources Inc CONVERTIBLE PREFERRED STOCK 25746U885 2581992 45780 SH OTR ALL 45780 0 0 Dominion Resources Inc CONVERTIBLE PREFERRED STOCK 25746U869 210346 4346 SH OTR ALL 4346 0 0 Entertainment Properties CONVERTIBLE PREFERRED STOCK 26884U307 223348 6571 SH OTR ALL 6571 0 0 Exelon Corp CONVERTIBLE PREFERRED STOCK 30161N127 1315107 27032 SH OTR ALL 27032 0 0 Genesee & Wyoming Inc CONVERTIBLE PREFERRED STOCK 371559204 1181213 9750 SH OTR ALL 9750 0 0 HEALTH CARE REIT INC *PFD PERPTL CONV SER I CONVERTIBLE PREFERRED STOCK 42217K601 2009219 29573 SH OTR ALL 29573 0 0 Laclede Group Inc CONVERTIBLE PREFERRED STOCK 505597500 2112294 38561 SH OTR ALL 38561 0 0 Nextera Energy Inc CONVERTIBLE PREFERRED STOCK 65339F861 2222252 39198 SH OTR ALL 39198 0 0 Nextera Energy Inc CONVERTIBLE PREFERRED STOCK 65339F887 2608005 39795 SH OTR ALL 39795 0 0 SOUTHWESTERN ENERGY CO DEP SHS REPSTG 1/20TH CONVERTIBLE PREFERRED STOCK 845467208 2050067 40684 SH OTR ALL 40684 0 0 STANLEY BLACK & DECKER INC CORP CONVERTIBLE CONVERTIBLE PREFERRED STOCK 854502309 1671401 12471 SH OTR ALL 12471 0 0 Stanley Black & Decker Inc. CONVERTIBLE PREFERRED STOCK 854502804 1440278 12657 SH OTR ALL 12657 0 0 Tyson Foods Inc CONVERTIBLE PREFERRED STOCK 902494301 1671590 34480 SH OTR ALL 34480 0 0 UNITED TECHNOLOGIES CORPUNIT 7.5% CONVERTIBLE PREFERRED STOCK 913017117 2857979 46441 SH OTR ALL 46441 0 0 WELLS FARGO & COMPANY PERPETUAL PFD CONVERTIBLE PREFERRED STOCK 949746804 3602660 2953 SH OTR ALL 2953 0 0 Weyerhaeuser Company CONVERTIBLE PREFERRED STOCK 962166872 2129812 38922 SH OTR ALL 38922 0 0 Alerian MLP ETF EXCHANGE TRADED FUND 00162Q866 1745898 105365 SH OTR ALL 105365 0 0 Consumer Staples Spdr EXCHANGE TRADED FUND 81369Y308 22713 466 SH OTR ALL 466 0 0 Guggenheim Enhanced Short Duration Bond ETF EXCHANGE TRADED FUND 18383M654 606476 12115 SH OTR ALL 12115 0 0 ISHARES MBS ETF EXCHANGE TRADED FUND 464288588 916594 8307 SH OTR ALL 8307 0 0 iShares Barclays 3-7 Year Tr EXCHANGE TRADED FUND 464288661 108276 872 SH OTR ALL 872 0 0 iShares Currency Hedged Germany MSCI ETF EXCHANGE TRADED FUND 46434V704 6515539 228295 SH OTR ALL 228295 0 0 iShares DJ Select Dividend EXCHANGE TRADED FUND 464287168 160946 2065 SH OTR ALL 2065 0 0 iShares Floating Rate Bond ETF EXCHANGE TRADED FUND 46429B655 424566 8384 SH OTR ALL 8384 0 0 ISHARES IBOXX $INVESTMENT GRADE CORP EXCHANGE TRADED FUND 464287242 1217343 10002 SH OTR ALL 10002 0 0 ISHARES INC MSCI CDA INDEX FD EXCHANGE TRADED FUND 464286509 5029713 185052 SH OTR ALL 185052 0 0 ISHARES INC MSCI SINGAPORE INDEX FD EXCHANGE TRADED FUND 464286673 5254600 410516 SH OTR ALL 410516 0 0 iShares Lehman 1-3 Tr EXCHANGE TRADED FUND 464287457 159320 1877 SH OTR ALL 1877 0 0 iShares Lehman 20+ Tr EXCHANGE TRADED FUND 464287432 16990 130 SH OTR ALL 130 0 0 iShares Lehman 7-10 Tr EXCHANGE TRADED FUND 464287440 28507 263 SH OTR ALL 263 0 0 ISHARES MSCI HONG KONG INDEX FUND EXCHANGE TRADED FUND 464286871 5914453 269697 SH OTR ALL 269697 0 0 iShares MSCI India ETF EXCHANGE TRADED FUND 46429B598 6191766 192950 SH OTR ALL 192950 0 0 ISHARES TRUST BARCLAYS 1-3 YEAR CREDIT EXCHANGE TRADED FUND 464288646 666316 6314 SH OTR ALL 6314 0 0 ISHARES TRUST BARCLAYS INTERMEDIATE EXCHANGE TRADED FUND 464288638 1154841 10435 SH OTR ALL 10435 0 0 ISHARES TRUST BARCLAYS TIPS BOND FUND EXCHANGE TRADED FUND 464287176 525808 4629 SH OTR ALL 4629 0 0 ISHARES TRUST MSCI NEW ZEALAND EXCHANGE TRADED FUND 464289123 5363914 133897 SH OTR ALL 133897 0 0 ISHARES TRUST IBOXX $ HIGH YIELD CORP BOND FD EXCHANGE TRADED FUND 464288513 544475 6009 SH OTR ALL 6009 0 0 Spdr S&P 500 EXCHANGE TRADED FUND 78462F103 6216433 30114 SH OTR ALL 30114 0 0 Vanguard Intermediate - Term Corporate Bond ETF EXCHANGE TRADED FUND 92206C870 91383 1042 SH OTR ALL 1042 0 0 Wisdomtree Japan Hedged Equity Fund EXCHANGE TRADED FUND 97717W851 6747515 122415 SH OTR ALL 122415 0 0 Aegon Nv Non Cuml PREFERRED STOCK 007924608 212553 7479 SH OTR ALL 7479 0 0 Citigroup Inc. PREFERRED STOCK 172967358 214818 7772 SH OTR ALL 7772 0 0 JPMorgan Chase & Co PREFERRED STOCK 48127A161 220635 8199 SH OTR ALL 8199 0 0 MORGAN STANLEY PREFERRED STOCK 61763E207 218600 7952 SH OTR ALL 7952 0 0 Nustar Logistics Lp PREFERRED STOCK 67059T204 209894 8045 SH OTR ALL 8045 0 0 Seaspan Corp PREFERRED STOCK Y75638133 215938 8195 SH OTR ALL 8195 0 0 Wells Fargo & Co PREFERRED STOCK 949746879 213730 7307 SH OTR ALL 7307 0 0