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 1,407 28,950 SH   DFND   0 0 28,950
ABBVIE INC COM 00287Y109 3,934 54,250 SH   DFND   0 0 54,250
ALTRIA GROUP INC COM 02209S103 2,867 38,498 SH   DFND   0 0 38,498
ANALOG DEVICES INC COM 032654105 1,467 18,850 SH   DFND   0 0 18,850
AUTOMATIC DATA PROCESSING IN COM 053015103 5,743 56,050 SH   DFND   0 0 56,050
BANK AMER CORP COM 060505104 5,323 219,409 SH   DFND   0 0 219,409
BOEING CO COM 097023105 4,408 22,290 SH   DFND   0 0 22,290
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 975 12,900 SH   DFND   0 0 12,900
CBL & ASSOC PPTYS INC COM 124830100 365 43,349 SH   DFND   0 0 43,349
CDK GLOBAL INC COM 12508E101 947 15,261 SH   DFND   0 0 15,261
CHEVRON CORP NEW COM 166764100 756 7,250 SH   DFND   0 0 7,250
CHUBB LIMITED COM H1467J104 349 2,400 SH   DFND   0 0 2,400
CISCO SYS INC COM 17275R102 1,318 42,100 SH   DFND   0 0 42,100
CITIGROUP INC COM NEW 172967424 1,258 18,803 SH   DFND   0 0 18,803
COCA COLA CO COM 191216100 1,877 41,840 SH   DFND   0 0 41,840
COLGATE PALMOLIVE CO COM 194162103 440 5,932 SH   DFND   0 0 5,932
COMCAST CORP NEW CL A 20030N101 428 10,998 SH   DFND   0 0 10,998
CONOCOPHILLIPS COM 20825C104 334 7,600 SH   DFND   0 0 7,600
CROWN CASTLE INTL CORP NEW COM 22822V101 651 6,500 SH   DFND   0 0 6,500
DELL TECHNOLOGIES INC COM CL V 24703L103 440 7,198 SH   DFND   0 0 7,198
EBAY INC COM 278642103 1,969 56,400 SH   DFND   0 0 56,400
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 1,080 70,064 SH   DFND   0 0 70,064
FEDEX CORP COM 31428X106 1,391 6,400 SH   DFND   0 0 6,400
GENERAL ELECTRIC CO COM 369604103 3,057 113,183 SH   DFND   0 0 113,183
GOLDMAN SACHS GROUP INC COM 38141G104 2,719 12,255 SH   DFND   0 0 12,255
HCP INC COM 40414L109 593 18,544 SH   DFND   0 0 18,544
HOME DEPOT INC COM 437076102 2,401 15,650 SH   DFND   0 0 15,650
ILLINOIS TOOL WKS INC COM 452308109 315 2,198 SH   DFND   0 0 2,198
INTERNATIONAL BUSINESS MACHS COM 459200101 4,837 31,444 SH   DFND   0 0 31,444
ISTAR INC COM 45031U101 662 55,000 SH   DFND   0 0 55,000
JOHNSON & JOHNSON COM 478160104 433 3,270 SH   DFND   0 0 3,270
JPMORGAN CHASE & CO COM 46625H100 3,936 43,064 SH   DFND   0 0 43,064
KINDER MORGAN INC DEL COM 49456B101 5,409 282,287 SH   DFND   0 0 282,287
LILLY ELI & CO COM 532457108 510 6,200 SH   DFND   0 0 6,200
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2,912 40,854 SH   DFND   0 0 40,854
MERCK & CO INC COM 58933Y105 628 9,796 SH   DFND   0 0 9,796
MICROSOFT CORP COM 594918104 6,286 91,200 SH   DFND   0 0 91,200
MONDELEZ INTL INC CL A 609207105 318 7,369 SH   DFND   0 0 7,369
MYLAN N V SHS EURO N59465109 2,263 58,300 SH   DFND   0 0 58,300
PAYPAL HLDGS INC COM 70450Y103 3,027 56,400 SH   DFND   0 0 56,400
PEPSICO INC COM 713448108 231 2,000 SH   DFND   0 0 2,000
PFIZER INC COM 717081103 2,415 71,900 SH   DFND   0 0 71,900
PHILIP MORRIS INTL INC COM 718172109 1,427 12,150 SH   DFND   0 0 12,150
PRAXAIR INC COM 74005P104 212 1,600 SH   DFND   0 0 1,600
QUALCOMM INC COM 747525103 3,548 64,250 SH   DFND   0 0 64,250
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 462 12,000 SH   DFND   0 0 12,000
TARGET CORP COM 87612E106 272 5,200 SH   DFND   0 0 5,200
TIME WARNER INC COM NEW 887317303 301 3,000 SH   DFND   0 0 3,000
VERIZON COMMUNICATIONS INC COM 92343V104 212 4,752 SH   DFND   0 0 4,752
VISA INC COM CL A 92826C839 9,416 100,400 SH   DFND   0 0 100,400
VORNADO RLTY TR SH BEN INT 929042109 924 9,835 SH   DFND   0 0 9,835
WAL-MART STORES INC COM 931142103 2,331 30,800 SH   DFND   0 0 30,800
WILLIAMS COS INC DEL COM 969457100 5,971 197,200 SH   DFND   0 0 197,200
WYNDHAM WORLDWIDE CORP COM 98310W108 3,263 32,500 SH   DFND   0 0 32,500