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 2,119 26,850 SH   DFND   0 0 26,850
ABBVIE INC COM 00287Y109 4,659 61,150 SH   DFND   0 0 61,150
ALTRIA GROUP INC COM 02209S103 1,279 33,081 SH   DFND   0 0 33,081
ANALOG DEVICES INC COM 032654105 1,498 16,715 SH   DFND   0 0 16,715
AUTOMATIC DATA PROCESSING IN COM 053015103 6,554 47,950 SH   DFND   0 0 47,950
BK OF AMERICA CORP COM 060505104 3,969 186,961 SH   DFND   0 0 186,961
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 1,223 12,900 SH   DFND   0 0 12,900
CBL & ASSOC PPTYS INC COM 124830100 31 155,864 SH   DFND   0 0 155,864
CDK GLOBAL INC COM 12508E101 202 6,163 SH   DFND   0 0 6,163
CHEVRON CORP NEW COM 166764100 344 4,750 SH   DFND   0 0 4,750
CISCO SYS INC COM 17275R102 1,655 42,100 SH   DFND   0 0 42,100
CITIGROUP INC COM NEW 172967424 789 18,744 SH   DFND   0 0 18,744
COCA COLA CO COM 191216100 1,668 37,690 SH   DFND   0 0 37,690
COLGATE PALMOLIVE CO COM 194162103 221 3,332 SH   DFND   0 0 3,332
COMCAST CORP NEW CL A 20030N101 378 10,998 SH   DFND   0 0 10,998
CROWN CASTLE INTL CORP NEW COM 22822V101 375 2,600 SH   DFND   0 0 2,600
EBAY INC COM 278642103 1,683 56,000 SH   DFND   0 0 56,000
ENBRIDGE INC COM 29250N105 641 22,045 SH   DFND   0 0 22,045
FEDEX CORP COM 31428X106 2,422 19,975 SH   DFND   0 0 19,975
GOLDMAN SACHS GROUP INC COM 38141G104 1,949 12,609 SH   DFND   0 0 12,609
HOME DEPOT INC COM 437076102 2,539 13,600 SH   DFND   0 0 13,600
ILLINOIS TOOL WKS INC COM 452308109 312 2,198 SH   DFND   0 0 2,198
INTEL CORP COM 458140100 216 4,000 SH   DFND   0 0 4,000
INTERNATIONAL BUSINESS MACHS COM 459200101 3,426 30,882 SH   DFND   0 0 30,882
ISTAR INC COM 45031U101 584 55,000 SH   DFND   0 0 55,000
JPMORGAN CHASE & CO COM 46625H100 3,411 37,890 SH   DFND   0 0 37,890
KINDER MORGAN INC DEL COM 49456B101 4,481 321,942 SH   DFND   0 0 321,942
LILLY ELI & CO COM 532457108 860 6,200 SH   DFND   0 0 6,200
LINDE PLC SHS G5494J103 277 1,600 SH   DFND   0 0 1,600
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 1,186 32,506 SH   DFND   0 0 32,506
MICROSOFT CORP COM 594918104 12,420 78,750 SH   DFND   0 0 78,750
MONDELEZ INTL INC CL A 609207105 348 6,954 SH   DFND   0 0 6,954
MYLAN NV SHS EURO N59465109 1,563 104,800 SH   DFND   0 0 104,800
PAYPAL HLDGS INC COM 70450Y103 5,320 55,570 SH   DFND   0 0 55,570
PFIZER INC COM 717081103 2,278 69,800 SH   DFND   0 0 69,800
PHILIP MORRIS INTL INC COM 718172109 1,120 15,350 SH   DFND   0 0 15,350
QUALCOMM INC COM 747525103 4,201 62,100 SH   DFND   0 0 62,100
VISA INC COM CL A 92826C839 14,287 88,673 SH   DFND   0 0 88,673
VORNADO RLTY TR SH BEN INT 929042109 275 7,598 SH   DFND   0 0 7,598
WALMART INC COM 931142103 3,193 28,100 SH   DFND   0 0 28,100
WASHINGTON PRIME GROUP NEW COM 93964W108 87 107,891 SH   DFND   0 0 107,891
WILLIAMS COS INC COM 969457100 3,061 216,300 SH   DFND   0 0 216,300
WYNDHAM DESTINATIONS INC COM 98310W108 707 32,600 SH   DFND   0 0 32,600
WYNDHAM HOTELS & RESORTS INC COM 98311A105 1,052 33,400 SH   DFND   0 0 33,400