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 1,532 26,850 SH   DFND   0 0 26,850
ABBVIE INC COM 00287Y109 5,043 52,150 SH   DFND   0 0 52,150
ALTRIA GROUP INC COM 02209S103 2,349 32,898 SH   DFND   0 0 32,898
ANALOG DEVICES INC COM 032654105 1,585 17,806 SH   DFND   0 0 17,806
AUTOMATIC DATA PROCESSING IN COM 053015103 6,053 51,650 SH   DFND   0 0 51,650
BANK AMER CORP COM 060505104 5,798 196,407 SH   DFND   0 0 196,407
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 1,168 12,900 SH   DFND   0 0 12,900
CBL & ASSOC PPTYS INC COM 124830100 671 118,581 SH   DFND   0 0 118,581
CDK GLOBAL INC COM 12508E101 534 7,495 SH   DFND   0 0 7,495
CHEVRON CORP NEW COM 166764100 657 5,250 SH   DFND   0 0 5,250
CHUBB LIMITED COM H1467J104 351 2,400 SH   DFND   0 0 2,400
CISCO SYS INC COM 17275R102 1,612 42,100 SH   DFND   0 0 42,100
CITIGROUP INC COM NEW 172967424 1,399 18,803 SH   DFND   0 0 18,803
COCA COLA CO COM 191216100 1,736 37,840 SH   DFND   0 0 37,840
COLGATE PALMOLIVE CO COM 194162103 448 5,932 SH   DFND   0 0 5,932
COMCAST CORP NEW CL A 20030N101 440 10,998 SH   DFND   0 0 10,998
CONOCOPHILLIPS COM 20825C104 285 5,200 SH   DFND   0 0 5,200
CROWN CASTLE INTL CORP NEW COM 22822V101 333 3,000 SH   DFND   0 0 3,000
EBAY INC COM 278642103 2,129 56,400 SH   DFND   0 0 56,400
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 813 60,684 SH   DFND   0 0 60,684
FEDEX CORP COM 31428X106 1,597 6,400 SH   DFND   0 0 6,400
GENERAL ELECTRIC CO COM 369604103 234 13,383 SH   DFND   0 0 13,383
GOLDMAN SACHS GROUP INC COM 38141G104 3,122 12,255 SH   DFND   0 0 12,255
HCP INC COM 40414L109 304 11,644 SH   DFND   0 0 11,644
HOME DEPOT INC COM 437076102 2,511 13,250 SH   DFND   0 0 13,250
ILLINOIS TOOL WKS INC COM 452308109 367 2,198 SH   DFND   0 0 2,198
INTERNATIONAL BUSINESS MACHS COM 459200101 4,778 31,144 SH   DFND   0 0 31,144
ISTAR INC COM 45031U101 622 55,000 SH   DFND   0 0 55,000
JOHNSON & JOHNSON COM 478160104 457 3,270 SH   DFND   0 0 3,270
JPMORGAN CHASE & CO COM 46625H100 4,231 39,564 SH   DFND   0 0 39,564
KINDER MORGAN INC DEL COM 49456B101 5,038 278,801 SH   DFND   0 0 278,801
LILLY ELI & CO COM 532457108 524 6,200 SH   DFND   0 0 6,200
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2,674 37,692 SH   DFND   0 0 37,692
MERCK & CO INC COM 58933Y105 382 6,796 SH   DFND   0 0 6,796
MICROSOFT CORP COM 594918104 6,689 78,200 SH   DFND   0 0 78,200
MONDELEZ INTL INC CL A 609207105 315 7,369 SH   DFND   0 0 7,369
MYLAN N V SHS EURO N59465109 3,948 93,300 SH   DFND   0 0 93,300
PAYPAL HLDGS INC COM 70450Y103 4,123 56,000 SH   DFND   0 0 56,000
PEPSICO INC COM 713448108 240 2,000 SH   DFND   0 0 2,000
PFIZER INC COM 717081103 2,604 71,900 SH   DFND   0 0 71,900
PHILIP MORRIS INTL INC COM 718172109 1,051 9,950 SH   DFND   0 0 9,950
PRAXAIR INC COM 74005P104 247 1,600 SH   DFND   0 0 1,600
QUALCOMM INC COM 747525103 3,928 61,350 SH   DFND   0 0 61,350
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 224 5,500 SH   DFND   0 0 5,500
TARGET CORP COM 87612E106 339 5,200 SH   DFND   0 0 5,200
TIME WARNER INC COM NEW 887317303 274 3,000 SH   DFND   0 0 3,000
VISA INC COM CL A 92826C839 10,285 90,200 SH   DFND   0 0 90,200
VORNADO RLTY TR SH BEN INT 929042109 643 8,227 SH   DFND   0 0 8,227
WAL-MART STORES INC COM 931142103 2,844 28,800 SH   DFND   0 0 28,800
WASHINGTON PRIME GROUP NEW COM 93964W108 483 67,891 SH   DFND   0 0 67,891
WILLIAMS COS INC DEL COM 969457100 5,903 193,600 SH   DFND   0 0 193,600
WYNDHAM WORLDWIDE CORP COM 98310W108 3,766 32,500 SH   DFND   0 0 32,500