Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORPORATION	162,856	$15.27M	6.4%	$53.69	+7.8%	COM	30231G102
CVX	CHEVRON CORP	119,496	$12.53M	5.3%	$69.82	-4.4%	COM	166764100
PM	PHILIP MORRIS INTERNATIONAL-AL	115,506	$11.75M	4.9%	$49.85	+23.2%	COM	718172109
MRK	MERCK & CO.	139,770	$8.052M	3.4%	$35.76	+10.4%	COM	58933Y105
AAPL	APPLE INC	84,135	$8.043M	3.4%	$17.88	+26.5%	COM	037833100
IBM	INTERNATIONAL BUSINESS MACHINE	51,192	$7.77M	3.3%	$118.47	-19.7%	COM	459200101
MO	ALTRIA GROUP INC	103,806	$7.158M	3.0%	$16.28	+104.0%	COM	02209S103
KO	COCA-COLA CO	156,990	$7.116M	3.0%	$27.85	+19.6%	COM	191216100
—	EQUITY COMMONWEALTH REIT(FRMLY	237,500	$6.918M	2.9%	$26.32	—	COM	294628102
—	ROYAL DUTCH SHELL PLC - ADR A	116,870	$6.454M	2.7%	$60.70	—	COM	780259206
PG	PROCTER & GAMBLE CO	75,464	$6.39M	2.7%	$55.13	+14.9%	COM	742718109
DEO	DIAGEO PLC ADR	46,740	$5.276M	2.2%	$113.73	—	COM	25243Q205
JPM	JPMORGAN CHASE & CO.	81,434	$5.06M	2.1%	$38.96	+24.0%	COM	46625H100
PEP	PEPSICO	43,609	$4.62M	1.9%	$56.00	+37.7%	COM	713448108
JNJ	JOHNSON & JOHNSON	37,610	$4.562M	1.9%	$59.66	+45.9%	COM	478160104
PFE	PFIZER, INC.	127,050	$4.473M	1.9%	$16.46	+27.9%	COM	717081103
BMY	BRISTOL-MYERS SQUIBB CO	59,924	$4.407M	1.8%	$28.67	+76.2%	COM	110122108
—	GENERAL MOTORS CO	141,280	$3.998M	1.7%	$35.16	—	COM	37045v100
BRK/A	BERKSHIRE HATHAWAY INC CL A	18	$3.906M	1.6%	$165023.42	+30.0%	COM	084670108
L	LOEWS CORP	81,477	$3.348M	1.4%	$42.08	-9.8%	COM	540424108
—	REYNOLDS AMERICAN INC	60,450	$3.26M	1.4%	$59.47	—	COM	761713106
HD	HOME DEPOT	23,600	$3.013M	1.3%	$56.05	+87.3%	COM	437076102
M	MACY'S INC. (FORMERLY FEDERATE	87,756	$2.949M	1.2%	$46.44	-22.9%	COM	55616P104
RHHBY	ROCHE HOLDINGS LTD ADR	88,650	$2.921M	1.2%	$49.80	—	COM	771195104
—	BERKSHIRE HATHAWAY CL B	20,014	$2.898M	1.2%	$111.92	—	COM	084670207
—	RBC SER C-1 5.5% CALL'17@25(FR	112,040	$2.891M	1.2%	$24.74	—	PREFERRED	78013g402
—	AT&T INC	59,438	$2.568M	1.1%	$35.40	—	COM	78387G103
—	TOTAL SA SPON ADR	51,895	$2.496M	1.0%	$48.70	—	COM	89151E109
—	TWENTY-FIRST CENTURY FOX, INC.	85,342	$2.309M	1.0%	$32.58	—	COM	90130A101
NKE	NIKE INC., CL B	40,000	$2.208M	0.9%	$41.60	+21.0%	COM	654106103
TGT	TARGET CORP-FRMLY DAYTON HUDSO	30,920	$2.159M	0.9%	$47.95	+17.0%	COM	87612E106
MDLZ	MONDELEZ INTL INC (FMRLY KRAFT	46,053	$2.096M	0.9%	$23.16	+50.4%	COM	609207105
KHC	KRAFT HEINZ CO (THE)	23,609	$2.089M	0.9%	$47.86	+12.0%	COM	500754106
KMB	KIMBERLY-CLARK	14,600	$2.007M	0.8%	$63.81	+47.2%	COM	494368103
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$1.975M	0.8%	$94.35	+9.8%	COM	H1467J104
WMT	WAL-MART STORES	26,800	$1.957M	0.8%	$19.98	-2.3%	COM	931142103
—	EXPRESS SCRIPTS HOLDING CO	24,460	$1.854M	0.8%	$61.73	—	COM	302182100
INTC	INTEL CORP	56,500	$1.853M	0.8%	$17.18	+46.2%	COM	458140100
VZ	VERIZON	31,718	$1.771M	0.7%	$26.98	+16.7%	COM	92343V104
QCOM	QUALCOMM INC.	32,700	$1.752M	0.7%	$42.52	-5.3%	COM	747525103
DIS	DISNEY WALT CO	17,520	$1.714M	0.7%	$57.99	+59.0%	COM	254687106
—	ZOETIS INC.	35,440	$1.682M	0.7%	$30.88	—	COM	98978v103
—	UNITED TECHNOLOGIES CORP	14,400	$1.477M	0.6%	$92.92	—	COM	913017109
GIS	GENERAL MILLS INC	20,500	$1.462M	0.6%	$31.98	+42.1%	COM	370334104
—	NEW YORK COMMUNITY BANCORP, IN	95,850	$1.437M	0.6%	$14.04	—	COM	649445103
—	NOVARTIS AG - ADR	17,300	$1.427M	0.6%	$79.40	—	COM	66987v109
EPD	ENTERPRISE PRODUCTS PARTNERS L	48,380	$1.416M	0.6%	$50.88	—	COM	293792107
—	PUBLIC STORAGE SER W 5.2% CALL	52,000	$1.358M	0.6%	$23.44	—	PREFERRED	74460w875
—	GENERAL GROWTH PROPERTIES - RE	44,846	$1.337M	0.6%	$19.87	—	COM	370021107
—	BANK OF AMERICA CORP 6.000% CA	50,000	$1.302M	0.5%	$26.04	—	PREFERRED	060505260
—	AON PLC	11,618	$1.269M	0.5%	$64.38	—	COM	037389103
META	FACEBOOK INC	10,200	$1.166M	0.5%	$104.68	+9.3%	COM	30303M102
SRE	SEMPRA ENERGY	10,000	$1.14M	0.5%	$35.44	+10.1%	COM	816851109
SWRAY	SINGAPORE AIRLINES	127,911	$1.13M	0.5%	$9.19	—	COM	870794302
NSRGY	NESTLE ADR	14,400	$1.113M	0.5%	$68.53	—	COM	641069406
BOH	BANK OF HAWAII CORPORATION	15,000	$1.032M	0.4%	$31.53	+53.3%	COM	062540109
SKT	TANGER FACTORY OUTLET REIT	25,200	$1.013M	0.4%	$33.45	—	COM	875465106
F	FORD MOTOR COMPANY	79,585	$1M	0.4%	$8.44	-5.9%	COM	345370860
—	GE (FORMERLY GE CAP) 4.875% CA	36,000	$988K	0.4%	$23.69	—	PREFERRED	369622410
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$964K	0.4%	$44.20	—	COM	19122T109
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$902K	0.4%	$87.72	+48.0%	COM	053484101
GILD	GILEAD SCIENCES, INC	10,800	$901K	0.4%	$75.16	-16.5%	COM	375558103
BA	BOEING CO	6,850	$890K	0.4%	$81.75	+45.0%	COM	097023105
—	ALLEGHANY CORP	1,594	$876K	0.4%	$383.31	—	COM	017175100
AAL	AMERICAN AIRLINES GROUP INC.	30,800	$872K	0.4%	$43.35	-25.2%	COM	02376R102
—	CONOCOPHILLIPS	19,700	$859K	0.4%	$60.51	—	COM	20825c104
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$810K	0.3%	$67.30	+55.4%	COM	98956P102
BXP	BOSTON PROPERTIES INC. REIT	6,000	$791K	0.3%	$64.00	+34.9%	COM	101121101
PSX	PHILLIPS 66	9,850	$781K	0.3%	$40.44	+40.2%	COM	718546104
BAC	BANK OF AMERICA (NEW)	58,017	$770K	0.3%	$10.13	+11.9%	COM	060505104
—	ABBVIE INC.	12,200	$755K	0.3%	$46.09	—	COM	00287y109
BUD	ANHEUSER-BUSCH INBEV NV SPN AD	5,700	$751K	0.3%	$131.75	—	COM	03524A108
MSFT	MICROSOFT CORP	14,100	$721K	0.3%	$27.11	+69.6%	COM	594918104
AEP	AMERICAN ELECTRIC POWER	10,000	$701K	0.3%	$30.44	+53.1%	COM	025537101
UNP	UNION PACIFIC CORPORATION	7,700	$672K	0.3%	$72.17	-5.4%	COM	907818108
TXN	TEXAS INSTRUMENTS INC.	10,000	$627K	0.3%	$25.31	+80.4%	COM	882508104
CSCO	CISCO SYSTEMS INC	21,700	$623K	0.3%	$15.24	+36.9%	COM	17275R102
PSA	PUBLIC STORAGE - REIT	2,388	$610K	0.3%	$97.16	+79.3%	COM	74460D109
—	U.S. BANCORP (FORMERLY FIRST B	14,789	$596K	0.3%	$36.18	—	COM	902973106
—	YUM BRANDS INC (FORMERLY TRICO	7,040	$584K	0.2%	$69.32	—	COM	895953107
SPG	SIMON PROPERTY GROUP, INC. REI	2,600	$564K	0.2%	$115.91	+7.1%	COM	828806109
GOOG	ALPHABET INC CL C	800	$554K	0.2%	$35.65	0.0%	COM	02079K107
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$549K	0.2%	$67.80	+7.8%	COM	911312106
—	JPMORGAN CHASE 6.125% CALLABLE	20,000	$536K	0.2%	$24.90	—	PREFERRED	48127r461
—	EXPEDIA INC (IAC/INTERACTIVECO	5,000	$532K	0.2%	$60.20	—	COM	30212p105
—	BANK OF AMERICA 6.20% PERP CAL	20,000	$525K	0.2%	$26.05	—	PREFERRED	060505286
SYY	SYSCO CORP	10,000	$507K	0.2%	$24.40	+54.4%	COM	871829107
—	TIFFANY & CO	8,300	$503K	0.2%	$72.89	—	COM	886547108
TEVA	TEVA PHARMACEUTICALS ADR	10,000	$502K	0.2%	$39.20	—	COM	881624209
—	HOWARD HUGHES CORP (THE)(SPINO	4,296	$491K	0.2%	$112.20	—	COM	44267d107
BP	BP PLC SPONS ADR	12,642	$449K	0.2%	$41.55	—	COM	055622104
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$443K	0.2%	$13.81	—	COM	76169c100
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$436K	0.2%	$23.37	+28.3%	COM	039483102
—	BANCO SANTANDER SA ADR	106,987	$419K	0.2%	$6.49	—	COM	05964h105
HSBC	HSBC HOLDINGS PLC LTD ADR	12,780	$400K	0.2%	$51.90	—	COM	404280406
—	FIDELITY NATIONAL INFORMATION	5,364	$395K	0.2%	$42.88	—	COM	31620m106
—	TRAVELERS COMPANIES, INC	3,311	$394K	0.2%	$80.04	—	COM	89417e109
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$392K	0.2%	$27.73	—	COM	31620r303
EMR	EMERSON ELECTRIC CO	7,130	$372K	0.2%	$40.02	+3.8%	COM	291011104
ABT	ABBOTT LABORATORIES	8,700	$342K	0.1%	$28.85	+15.6%	COM	002824100
STZ	CONSTELLATION BRANDS, INC.	2,000	$331K	0.1%	$124.77	+8.6%	COM	21036P108
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$329K	0.1%	$13.43	—	COM	166744201
RIO	RIO TINTO PLC SPONSORED ADR	10,500	$329K	0.1%	$41.05	—	COM	767204100
TRIP	TRIPADVISOR INC.	5,000	$322K	0.1%	$50.93	+13.2%	COM	896945201
—	PROSHARES ULTRASHORT 20+ YEAR	9,000	$285K	0.1%	$41.89	—	COM	74347b201
—	IAC/INTERACTIVECORP	5,000	$282K	0.1%	$65.35	—	COM	44919p508
—	BLACKSTONE GROUP LP (THE)	11,400	$280K	0.1%	$28.07	—	COM	09253u108
—	APOLLO INVESTMENT CORPORATION	50,000	$277K	0.1%	$5.56	—	COM	03761U106
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$269K	0.1%	$173.67	—	COM	731572103
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$269K	0.1%	$26.26	—	COM	22002T108
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$242K	0.1%	$41.94	—	COM	046353108
BAX	BAXTER INT'L INC	5,106	$231K	0.1%	$32.47	+15.4%	COM	071813109
—	KKR & CO. LP	18,000	$222K	0.1%	$14.67	—	COM	48248m102
DAL	DELTA AIR LINES INC	6,000	$219K	0.1%	$38.40	-1.6%	COM	247361702
—	BLACKROCK CAPITAL INVESTMENT C	27,500	$214K	0.1%	$9.18	—	COM	092533108
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$201K	0.1%	$26.50	—	PREFERRED	112714209