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 1,224 28,950 SH   DFND   28,950 0 0
ABBVIE INC COM 00287Y109 3,365 53,350 SH   DFND   53,350 0 0
ALTRIA GROUP INC COM 02209S103 2,434 38,498 SH   DFND   38,498 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 4,957 56,200 SH   DFND   56,200 0 0
BANK AMER CORP COM 060505104 3,494 223,238 SH   DFND   223,238 0 0
BOEING CO COM 097023105 2,936 22,290 SH   DFND   22,290 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 874 12,900 SH   DFND   12,900 0 0
CBL & ASSOC PPTYS INC COM 124830100 526 43,349 SH   DFND   43,349 0 0
CDK GLOBAL INC COM 12508E101 971 16,928 SH   DFND   16,928 0 0
CHEVRON CORP NEW COM 166764100 787 7,650 SH   DFND   7,650 0 0
CHUBB LIMITED COM H1467J104 302 2,400 SH   DFND   2,400 0 0
CISCO SYS INC COM 17275R102 1,335 42,100 SH   DFND   42,100 0 0
CITIGROUP INC COM NEW 172967424 935 19,803 SH   DFND   19,803 0 0
COCA COLA CO COM 191216100 1,771 41,840 SH   DFND   41,840 0 0
COLGATE PALMOLIVE CO COM 194162103 440 5,932 SH   DFND   5,932 0 0
COMCAST CORP NEW COM 20030N101 365 5,499 SH   DFND   5,499 0 0
CONOCOPHILLIPS COM 20825C104 330 7,600 SH   DFND   7,600 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 480 5,100 SH   DFND   5,100 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 381 7,978 SH   DFND   7,978 0 0
EBAY INC COM 278642103 1,856 56,400 SH   DFND   56,400 0 0
LILLY ELI & CO COM 532457108 498 6,200 SH   DFND   6,200 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 1,666 65,470 SH   DFND   65,470 0 0
FEDEX CORP COM 31428X106 1,118 6,400 SH   DFND   6,400 0 0
GENERAL ELECTRIC CO COM 369604103 3,373 113,883 SH   DFND   113,883 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,976 12,255 SH   DFND   12,255 0 0
HCP INC COM 40414L109 704 18,544 SH   DFND   18,544 0 0
ILLINOIS TOOL WKS INC COM 452308109 263 2,198 SH   DFND   2,198 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 4,995 31,444 SH   DFND   31,444 0 0
ISTAR INC COM 45031U101 590 55,000 SH   DFND   55,000 0 0
JOHNSON & JOHNSON COM 478160104 386 3,270 SH   DFND   3,270 0 0
JPMORGAN CHASE & CO COM 46625H100 2,954 44,364 SH   DFND   44,364 0 0
KINDER MORGAN INC DEL COM 49456B101 6,705 289,892 SH   DFND   289,892 0 0
LINEAR TECHNOLOGY CORP COM 535678106 4,818 81,260 SH   DFND   81,260 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 4,015 56,754 SH   DFND   56,754 0 0
MERCK & CO INC COM 58933Y105 611 9,796 SH   DFND   9,796 0 0
MICROSOFT CORP COM 594918104 5,253 91,200 SH   DFND   91,200 0 0
MONDELEZ INTL INC CL A 609207105 323 7,369 SH   DFND   7,369 0 0
PAYPAL HLDGS INC COM 70450Y103 2,311 56,400 SH   DFND   56,400 0 0
PEPSICO INC COM 713448108 227 2,086 SH   DFND   2,086 0 0
PFIZER INC COM 717081103 2,435 71,900 SH   DFND   71,900 0 0
PHILIP MORRIS INTL INC COM 718172109 1,181 12,150 SH   DFND   12,150 0 0
PHILLIPS 66 COM 718546104 209 2,600 SH   DFND   2,600 0 0
QUALCOMM INC COM 747525103 1,935 28,250 SH   DFND   28,250 0 0
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 393 12,000 SH   DFND   12,000 0 0
TARGET CORP COM 87612E106 357 5,200 SH   DFND   5,200 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 900 19,560 SH   DFND   19,560 0 0
HOME DEPOT INC COM 437076102 2,027 15,750 SH   DFND   15,750 0 0
WILLIAMS COS INC DEL COM 969457100 6,035 196,400 SH   DFND   196,400 0 0
TIME WARNER INC COM NEW 887317303 239 3,000 SH   DFND   3,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 247 4,752 SH   DFND   4,752 0 0
VISA INC COM CL A 92826C839 8,741 105,700 SH   DFND   105,700 0 0
VORNADO RLTY TR SH BEN INT 929042109 1,016 10,035 SH   DFND   10,035 0 0
WAL-MART STORES INC COM 931142103 2,221 30,800 SH   DFND   30,800 0 0
WYNDHAM WORLDWIDE CORP COM 98310W108 2,188 32,500 SH   DFND   32,500 0 0