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
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
ABBOTT LABS COM 002824100 1,300 28,950 SH   DFND   28,950 0 0
ABBVIE INC COM 00287Y109 3,160 53,350 SH   DFND   53,350 0 0
ACE LTD SHS H0023R105 280 2,400 SH   DFND   2,400 0 0
ALTRIA GROUP INC COM 02209S103 2,256 38,750 SH   DFND   38,750 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 4,761 56,200 SH   DFND   56,200 0 0
BANK AMER CORP COM 060505104 3,757 223,238 SH   DFND   223,238 0 0
BOEING CO COM 097023105 3,657 25,290 SH   DFND   25,290 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 693 12,900 SH   DFND   12,900 0 0
CBL & ASSOC PPTYS INC COM 124830100 536 43,349 SH   DFND   43,349 0 0
CDK GLOBAL INC COM 12508E101 917 19,327 SH   DFND   19,327 0 0
CHEVRON CORP NEW COM 166764100 688 7,650 SH   DFND   7,650 0 0
CISCO SYS INC COM 17275R102 1,143 42,100 SH   DFND   42,100 0 0
CITIGROUP INC COM NEW 172967424 1,154 22,303 SH   DFND   22,303 0 0
COCA COLA CO COM 191216100 1,797 41,840 SH   DFND   41,840 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 228 3,800 SH   DFND   3,800 0 0
COLGATE PALMOLIVE CO COM 194162103 428 6,430 SH   DFND   6,430 0 0
COMCAST CORP NEW CL A 20030N101 310 5,499 SH   DFND   5,499 0 0
CONOCOPHILLIPS COM 20825C104 355 7,600 SH   DFND   7,600 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 510 5,900 SH   DFND   5,900 0 0
E M C CORP MASS COM 268648102 1,967 76,600 SH   DFND   76,600 0 0
EBAY INC COM 278642103 1,550 56,400 SH   DFND   56,400 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 1,339 59,986 SH   DFND   59,986 0 0
GENERAL ELECTRIC CO COM 369604103 3,578 114,852 SH   DFND   114,852 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,209 12,255 SH   DFND   12,255 0 0
HCP INC COM 40414L109 709 18,544 SH   DFND   18,544 0 0
HOME DEPOT INC COM 437076102 2,202 16,650 SH   DFND   16,650 0 0
ILLINOIS TOOL WKS INC COM 452308109 204 2,198 SH   DFND   2,198 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 4,327 31,445 SH   DFND   31,445 0 0
ISTAR INC COM 45031U101 645 55,000 SH   DFND   55,000 0 0
JOHNSON & JOHNSON COM 478160104 336 3,270 SH   DFND   3,270 0 0
JPMORGAN CHASE & CO COM 46625H100 2,929 44,364 SH   DFND   44,364 0 0
KINDER MORGAN INC DEL COM 49456B101 4,348 291,392 SH   DFND   291,392 0 0
LILLY ELI & CO COM 532457108 522 6,200 SH   DFND   6,200 0 0
LINEAR TECHNOLOGY CORP COM 535678106 3,596 84,660 SH   DFND   84,660 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 4,107 60,469 SH   DFND   60,469 0 0
MERCK & CO INC NEW COM 58933Y105 517 9,796 SH   DFND   9,796 0 0
MICROSOFT CORP COM 594918104 5,060 91,200 SH   DFND   91,200 0 0
MONDELEZ INTL INC CL A 609207105 330 7,369 SH   DFND   7,369 0 0
PAYPAL HLDGS INC COM 70450Y103 2,042 56,400 SH   DFND   56,400 0 0
PEPSICO INC COM 713448108 208 2,086 SH   DFND   2,086 0 0
PFIZER INC COM 717081103 2,321 71,900 SH   DFND   71,900 0 0
PHILIP MORRIS INTL INC COM 718172109 1,068 12,150 SH   DFND   12,150 0 0
PHILLIPS 66 COM 718546104 213 2,600 SH   DFND   2,600 0 0
QUALCOMM INC COM 747525103 1,412 28,250 SH   DFND   28,250 0 0
TARGET CORP COM 87612E106 378 5,200 SH   DFND   5,200 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,284 19,560 SH   DFND   19,560 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 220 4,754 SH   DFND   4,754 0 0
VISA INC COM CL A 92826C839 8,453 109,000 SH   DFND   109,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 1,044 10,449 SH   DFND   10,449 0 0
WAL-MART STORES INC COM 931142103 1,888 30,800 SH   DFND   30,800 0 0
WILLIAMS COS INC DEL COM 969457100 1,506 58,600 SH   DFND   58,600 0 0
WYNDHAM WORLDWIDE CORP COM 98310W108 1,816 25,000 SH   DFND   25,000 0 0