Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORPORATION	162,756	$13.61M	5.9%	$53.69	-3.2%	COM	30231G102
CVX	CHEVRON CORP	119,696	$11.42M	5.0%	$69.82	-17.8%	COM	166764100
PM	PHILIP MORRIS INTERNATIONAL-AL	115,706	$11.35M	4.9%	$49.85	+12.1%	COM	718172109
AAPL	APPLE INC	84,335	$9.192M	4.0%	$17.88	+26.1%	COM	037833100
IBM	INTERNATIONAL BUSINESS MACHINE	50,192	$7.602M	3.3%	$118.94	-29.3%	COM	459200101
MRK	MERCK & CO.	139,770	$7.395M	3.2%	$35.76	+0.8%	COM	58933Y105
KO	COCA-COLA CO	157,190	$7.292M	3.2%	$27.85	+14.3%	COM	191216100
—	EQUITY COMMONWEALTH REIT(FRMLY	255,900	$7.221M	3.1%	$26.32	—	COM	294628102
MO	ALTRIA GROUP INC	103,806	$6.504M	2.8%	$16.28	+90.9%	COM	02209S103
PG	PROCTER & GAMBLE CO	75,464	$6.211M	2.7%	$55.13	+11.8%	COM	742718109
—	ROYAL DUTCH SHELL PLC - ADR A	117,470	$5.691M	2.5%	$60.70	—	COM	780259206
DEO	DIAGEO PLC ADR	46,740	$5.042M	2.2%	$113.73	—	COM	25243Q205
BMY	BRISTOL-MYERS SQUIBB CO	76,824	$4.908M	2.1%	$28.67	+56.3%	COM	110122108
JPM	JPMORGAN CHASE & CO.	81,434	$4.823M	2.1%	$38.96	+15.1%	COM	46625H100
PEP	PEPSICO	43,609	$4.469M	1.9%	$56.00	+30.8%	COM	713448108
JNJ	JOHNSON & JOHNSON	38,510	$4.167M	1.8%	$59.66	+32.0%	COM	478160104
—	GENERAL MOTORS CO	132,000	$4.149M	1.8%	$35.64	—	COM	37045v100
BRK/A	BERKSHIRE HATHAWAY INC CL A	19	$4.056M	1.8%	$165023.42	+20.9%	COM	084670108
M	MACY'S INC. (FORMERLY FEDERATE	87,756	$3.869M	1.7%	$46.44	-11.0%	COM	55616P104
PFE	PFIZER, INC.	127,050	$3.766M	1.6%	$16.46	+13.5%	COM	717081103
HD	HOME DEPOT	23,600	$3.149M	1.4%	$56.05	+75.5%	COM	437076102
L	LOEWS CORP	81,477	$3.117M	1.4%	$42.08	-16.5%	COM	540424108
—	REYNOLDS AMERICAN INC	60,450	$3.041M	1.3%	$59.47	—	COM	761713106
—	RBC SER C-1 5.5% CALL'17@25(FR	112,040	$2.872M	1.2%	$24.74	—	PREFERRED	78013g402
—	BERKSHIRE HATHAWAY CL B	20,014	$2.84M	1.2%	$111.92	—	COM	084670207
RHHBY	ROCHE HOLDINGS LTD ADR	88,650	$2.715M	1.2%	$49.80	—	COM	771195104
TGT	TARGET CORP-FRMLY DAYTON HUDSO	30,920	$2.544M	1.1%	$47.95	+17.6%	COM	87612E106
NKE	NIKE INC., CL B	40,000	$2.459M	1.1%	$41.60	+27.9%	COM	654106103
—	TWENTY-FIRST CENTURY FOX, INC.	85,342	$2.379M	1.0%	$32.58	—	COM	90130A101
—	TOTAL SA SPON ADR	51,895	$2.357M	1.0%	$48.70	—	COM	89151E109
—	AT&T INC	59,438	$2.328M	1.0%	$35.40	—	COM	78387G103
KMB	KIMBERLY-CLARK	14,600	$1.964M	0.9%	$63.81	+45.4%	COM	494368103
KHC	KRAFT HEINZ CO (THE)	23,609	$1.855M	0.8%	$47.86	+0.9%	COM	500754106
MDLZ	MONDELEZ INTL INC (FMRLY KRAFT	46,053	$1.848M	0.8%	$23.16	+40.0%	COM	609207105
WMT	WAL-MART STORES	26,800	$1.836M	0.8%	$19.98	-8.4%	COM	931142103
INTC	INTEL CORP	56,000	$1.812M	0.8%	$17.18	+42.0%	COM	458140100
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$1.8M	0.8%	$94.35	+1.8%	COM	H1467J104
—	ZOETIS INC.	40,257	$1.785M	0.8%	$30.88	—	COM	98978v103
DIS	DISNEY WALT CO	17,520	$1.74M	0.8%	$57.99	+53.5%	COM	254687106
VZ	VERIZON	31,718	$1.715M	0.7%	$26.98	+11.3%	COM	92343V104
—	EXPRESS SCRIPTS HOLDING CO	24,460	$1.68M	0.7%	$61.73	—	COM	302182100
QCOM	QUALCOMM INC.	32,700	$1.672M	0.7%	$42.52	-13.2%	COM	747525103
—	NEW YORK COMMUNITY BANCORP, IN	95,850	$1.524M	0.7%	$14.04	—	COM	649445103
—	UNITED TECHNOLOGIES CORP	14,400	$1.441M	0.6%	$92.92	—	COM	913017109
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$1.37M	0.6%	$44.20	—	COM	19122T109
—	GENERAL GROWTH PROPERTIES - RE	44,846	$1.333M	0.6%	$19.87	—	COM	370021107
—	PUBLIC STORAGE SER W 5.2% CALL	52,000	$1.33M	0.6%	$23.44	—	PREFERRED	74460w875
GIS	GENERAL MILLS INC	20,500	$1.299M	0.6%	$31.98	+28.8%	COM	370334104
AAL	AMERICAN AIRLINES GROUP INC.	30,800	$1.263M	0.5%	$43.35	-11.1%	COM	02376R102
—	NOVARTIS AG - ADR	17,300	$1.253M	0.5%	$79.40	—	COM	66987v109
—	AON PLC	11,618	$1.214M	0.5%	$64.38	—	COM	037389103
EPD	ENTERPRISE PRODUCTS PARTNERS L	48,380	$1.191M	0.5%	$50.88	—	COM	293792107
SWRAY	SINGAPORE AIRLINES	127,911	$1.161M	0.5%	$9.19	—	COM	870794302
F	FORD MOTOR COMPANY	79,585	$1.074M	0.5%	$8.44	-11.7%	COM	345370860
SRE	SEMPRA ENERGY	10,000	$1.041M	0.5%	$35.44	-0.6%	COM	816851109
BOH	BANK OF HAWAII CORPORATION	15,000	$1.024M	0.4%	$31.53	+39.3%	COM	062540109
GILD	GILEAD SCIENCES, INC	10,800	$992K	0.4%	$75.16	-15.6%	COM	375558103
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$951K	0.4%	$87.72	+44.0%	COM	053484101
—	GE (FORMERLY GE CAP) 4.875% CA	36,000	$951K	0.4%	$23.69	—	PREFERRED	369622410
SKT	TANGER FACTORY OUTLET REIT	25,200	$917K	0.4%	$33.45	—	COM	875465106
BA	BOEING CO	6,850	$870K	0.4%	$81.75	+36.8%	COM	097023105
PSX	PHILLIPS 66	9,850	$853K	0.4%	$40.44	+38.6%	COM	718546104
NSRGY	NESTLE ADR	11,000	$821K	0.4%	$65.82	—	COM	641069406
—	CONOCOPHILLIPS	19,700	$793K	0.3%	$60.51	—	COM	20825c104
—	ALLEGHANY CORP	1,594	$791K	0.3%	$383.31	—	COM	017175100
BAC	BANK OF AMERICA (NEW)	58,017	$784K	0.3%	$10.13	+7.1%	COM	060505104
BXP	BOSTON PROPERTIES INC. REIT	6,000	$762K	0.3%	$64.00	+24.1%	COM	101121101
MSFT	MICROSOFT CORP	13,800	$762K	0.3%	$26.70	+72.5%	COM	594918104
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$717K	0.3%	$67.30	+32.5%	COM	98956P102
—	ABBVIE INC.	12,200	$697K	0.3%	$46.09	—	COM	00287y109
AEP	AMERICAN ELECTRIC POWER	10,000	$664K	0.3%	$30.44	+43.5%	COM	025537101
PSA	PUBLIC STORAGE - REIT	2,388	$659K	0.3%	$97.16	+75.1%	COM	74460D109
CSCO	CISCO SYSTEMS INC	21,700	$618K	0.3%	$15.24	+24.3%	COM	17275R102
UNP	UNION PACIFIC CORPORATION	7,700	$613K	0.3%	$72.17	-14.1%	COM	907818108
—	TIFFANY & CO	8,300	$609K	0.3%	$72.89	—	COM	886547108
—	U.S. BANCORP (FORMERLY FIRST B	14,789	$600K	0.3%	$36.18	—	COM	902973106
—	YUM BRANDS INC (FORMERLY TRICO	7,040	$576K	0.3%	$69.32	—	COM	895953107
TXN	TEXAS INSTRUMENTS INC.	10,000	$574K	0.2%	$25.31	+60.1%	COM	882508104
SPG	SIMON PROPERTY GROUP, INC. REI	2,600	$540K	0.2%	$115.91	0.0%	COM	828806109
—	EXPEDIA INC (IAC/INTERACTIVECO	5,000	$539K	0.2%	$60.20	—	COM	30212p105
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$538K	0.2%	$67.80	-0.2%	COM	911312106
TEVA	TEVA PHARMACEUTICALS ADR	10,000	$535K	0.2%	$39.20	—	COM	881624209
—	JPMORGAN CHASE 6.125% CALLABLE	20,000	$524K	0.2%	$24.90	—	PREFERRED	48127r461
—	BANK OF AMERICA 6.20% PERP CAL	20,000	$521K	0.2%	$26.05	—	PREFERRED	060505286
META	FACEBOOK INC	4,500	$513K	0.2%	$92.34	+13.5%	COM	30303M102
SYY	SYSCO CORP	10,000	$467K	0.2%	$24.40	+36.8%	COM	871829107
—	BANCO SANTANDER SA ADR	106,987	$466K	0.2%	$6.49	—	COM	05964h105
—	HOWARD HUGHES CORP (THE)(SPINO	4,296	$455K	0.2%	$112.20	—	COM	44267d107
HSBC	HSBC HOLDINGS PLC LTD ADR	13,067	$407K	0.2%	$51.90	—	COM	404280406
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$391K	0.2%	$13.43	—	COM	166744201
EMR	EMERSON ELECTRIC CO	7,130	$388K	0.2%	$40.02	-6.6%	COM	291011104
—	TRAVELERS COMPANIES, INC	3,311	$386K	0.2%	$80.04	—	COM	89417e109
BP	BP PLC SPONS ADR	12,642	$382K	0.2%	$41.55	—	COM	055622104
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$381K	0.2%	$13.81	—	COM	76169c100
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$369K	0.2%	$23.37	+11.1%	COM	039483102
ABT	ABBOTT LABORATORIES	8,700	$364K	0.2%	$28.85	+14.4%	COM	002824100
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$355K	0.2%	$27.73	—	COM	31620r303
—	FIDELITY NATIONAL INFORMATION	5,364	$340K	0.1%	$42.88	—	COM	31620m106
TRIP	TRIPADVISOR INC.	5,000	$333K	0.1%	$50.93	+15.6%	COM	896945201
—	PROSHARES ULTRASHORT 20+ YEAR	9,000	$332K	0.1%	$41.89	—	COM	74347b201
—	BLACKSTONE GROUP LP (THE)	11,400	$320K	0.1%	$28.07	—	COM	09253u108
STZ	CONSTELLATION BRANDS, INC.	2,000	$302K	0.1%	$124.77	0.0%	COM	21036P108
RIO	RIO TINTO PLC SPONSORED ADR	10,500	$297K	0.1%	$41.05	—	COM	767204100
DAL	DELTA AIR LINES INC	6,000	$292K	0.1%	$38.40	+7.7%	COM	247361702
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$289K	0.1%	$173.67	—	COM	731572103
—	SPDR DOW JONES INDUSTRIAL AVER	1,600	$283K	0.1%	$176.88	—	COM	78467x109
—	APOLLO INVESTMENT CORPORATION	50,000	$278K	0.1%	$5.56	—	COM	03761U106
—	SPDR S&P 500 ETF TRUST	1,300	$267K	0.1%	$205.38	—	COM	78462f103
—	KKR & CO. LP	18,000	$264K	0.1%	$14.67	—	COM	48248m102
—	BLACKROCK CAPITAL INVESTMENT C	27,500	$259K	0.1%	$9.18	—	COM	092533108
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$239K	0.1%	$26.26	—	COM	22002T108
—	IAC/INTERACTIVECORP	5,000	$235K	0.1%	$65.35	—	COM	44919p508
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$225K	0.1%	$41.94	—	COM	046353108
BAX	BAXTER INT'L INC	5,106	$210K	0.1%	$32.47	0.0%	COM	071813109
—	BAXALTA INC (BAXTER INT'L SPIN	5,106	$206K	0.1%	$40.34	—	COM	07177m103
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$193K	0.1%	$26.50	—	PREFERRED	112714209