Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORPORATION	162,656	$13.34M	5.5%	$53.69	+4.5%	COM	30231G102
PM	PHILIP MORRIS INTERNATIONAL-AL	115,406	$13.03M	5.4%	$49.85	+31.6%	COM	718172109
CVX	CHEVRON CORP	119,396	$12.82M	5.3%	$69.82	+9.9%	COM	166764100
AAPL	APPLE INC	83,035	$11.93M	4.9%	$17.88	+70.3%	COM	037833100
IBM	INTERNATIONAL BUSINESS MACHINE	50,192	$8.74M	3.6%	$118.47	-3.4%	COM	459200101
MRK	MERCK & CO.	136,370	$8.665M	3.6%	$35.76	+28.8%	COM	58933Y105
KO	COCA-COLA CO	176,315	$7.483M	3.1%	$28.23	+11.6%	COM	191216100
MO	ALTRIA GROUP INC	103,406	$7.385M	3.1%	$16.28	+136.9%	COM	02209S103
JPM	JPMORGAN CHASE & CO.	81,434	$7.153M	3.0%	$38.96	+78.8%	COM	46625H100
PG	PROCTER & GAMBLE CO	75,464	$6.78M	2.8%	$55.13	+27.0%	COM	742718109
—	ROYAL DUTCH SHELL PLC - ADR A	120,670	$6.363M	2.6%	$60.31	—	COM	780259206
DEO	DIAGEO PLC ADR	46,740	$5.402M	2.2%	$113.73	—	COM	25243Q205
—	GENERAL MOTORS CO	142,080	$5.024M	2.1%	$35.16	—	COM	37045v100
PEP	PEPSICO	43,609	$4.878M	2.0%	$56.00	+46.3%	COM	713448108
JNJ	JOHNSON & JOHNSON	37,510	$4.672M	1.9%	$59.66	+56.5%	COM	478160104
BRK/A	BERKSHIRE HATHAWAY INC CL A	18	$4.497M	1.9%	$165023.42	+52.0%	COM	084670108
PFE	PFIZER, INC.	125,533	$4.294M	1.8%	$16.46	+30.1%	COM	717081103
—	REYNOLDS AMERICAN INC	60,450	$3.81M	1.6%	$59.47	—	COM	761713106
L	LOEWS CORP	79,477	$3.717M	1.5%	$42.08	+6.7%	COM	540424108
HD	HOME DEPOT	23,600	$3.465M	1.4%	$56.05	+104.0%	COM	437076102
—	BERKSHIRE HATHAWAY CL B	20,014	$3.336M	1.4%	$111.92	—	COM	084670207
BMY	BRISTOL-MYERS SQUIBB CO	59,924	$3.259M	1.3%	$28.67	+39.3%	COM	110122108
—	RBC SER C-1 5.5 CALL'17 25(FR	112,040	$2.863M	1.2%	$24.74	—	PREFERRED	78013g402
RHHBY	ROCHE HOLDINGS LTD ADR	88,650	$2.839M	1.2%	$49.80	—	COM	771195104
—	TWENTY-FIRST CENTURY FOX, INC.	85,342	$2.764M	1.1%	$32.58	—	COM	90130A101
M	MACY'S INC. (FORMERLY FEDERATE	86,256	$2.557M	1.1%	$46.44	-33.5%	COM	55616P104
NKE	NIKE INC., CL B	45,000	$2.508M	1.0%	$42.04	+17.2%	COM	654106103
—	AT&T INC	59,438	$2.47M	1.0%	$35.40	—	COM	78387G103
KHC	KRAFT HEINZ CO (THE)	23,609	$2.144M	0.9%	$47.86	+25.2%	COM	500754106
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$2.058M	0.9%	$94.35	+21.8%	COM	H1467J104
INTC	INTEL CORP	55,500	$2.002M	0.8%	$17.18	+72.8%	COM	458140100
DIS	DISNEY WALT CO	17,520	$1.987M	0.8%	$57.99	+77.6%	COM	254687106
MDLZ	MONDELEZ INTL INC (FMRLY KRAFT	46,053	$1.984M	0.8%	$23.16	+55.0%	COM	609207105
WMT	WAL-MART STORES	26,800	$1.932M	0.8%	$19.98	-1.0%	COM	931142103
KMB	KIMBERLY-CLARK	14,600	$1.922M	0.8%	$63.81	+45.1%	COM	494368103
QCOM	QUALCOMM INC.	32,700	$1.875M	0.8%	$42.52	+7.0%	COM	747525103
—	TOTAL SA SPON ADR	36,395	$1.835M	0.8%	$48.70	—	COM	89151E109
—	ZOETIS INC.	34,362	$1.834M	0.8%	$30.88	—	COM	98978v103
TGT	TARGET CORP-FRMLY DAYTON HUDSO	30,920	$1.706M	0.7%	$47.95	+0.1%	COM	87612E106
—	UNITED TECHNOLOGIES CORP	14,400	$1.616M	0.7%	$92.92	—	COM	913017109
—	EXPRESS SCRIPTS HOLDING CO	24,460	$1.612M	0.7%	$61.73	—	COM	302182100
VZ	VERIZON	31,718	$1.546M	0.6%	$26.98	+16.5%	COM	92343V104
META	FACEBOOK INC	10,200	$1.449M	0.6%	$104.68	+26.8%	COM	30303M102
—	AON PLC	11,618	$1.379M	0.6%	$64.38	—	COM	037389103
BAC	BANK OF AMERICA (NEW)	57,017	$1.345M	0.6%	$10.13	+91.3%	COM	060505104
—	NEW YORK COMMUNITY BANCORP, IN	95,850	$1.339M	0.6%	$14.04	—	COM	649445103
—	BANK OF AMERICA CORP 6.000 CA	50,000	$1.29M	0.5%	$26.04	—	PREFERRED	060505260
AAL	AMERICAN AIRLINES GROUP INC.	30,300	$1.282M	0.5%	$43.35	+1.0%	COM	02376R102
BOH	BANK OF HAWAII CORPORATION	15,000	$1.235M	0.5%	$31.53	+93.1%	COM	062540109
BA	BOEING CO	6,850	$1.211M	0.5%	$81.75	+94.2%	COM	097023105
GIS	GENERAL MILLS INC	20,500	$1.21M	0.5%	$31.98	+39.5%	COM	370334104
EPD	ENTERPRISE PRODUCTS PARTNERS L	41,840	$1.155M	0.5%	$50.88	—	COM	293792107
SRE	SEMPRA ENERGY	10,000	$1.105M	0.5%	$35.44	+12.7%	COM	816851109
—	PUBLIC STORAGE SER W 5.2 CALL	42,000	$1.047M	0.4%	$23.44	—	PREFERRED	74460w875
—	GGP INC REIT - FMRLY GENERAL G	44,846	$1.04M	0.4%	$24.97	—	COM	36174x101
SWRAY	SINGAPORE AIRLINES	127,911	$1.04M	0.4%	$9.19	—	COM	870794302
NSRGY	NESTLE ADR	13,400	$1.03M	0.4%	$68.53	—	COM	641069406
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$1.018M	0.4%	$44.20	—	COM	19122T109
—	CONOCOPHILLIPS	19,700	$982K	0.4%	$60.51	—	COM	20825c104
—	ALLEGHANY CORP	1,594	$980K	0.4%	$383.31	—	COM	017175100
F	FORD MOTOR COMPANY	79,585	$926K	0.4%	$8.12	-4.2%	COM	345370860
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$918K	0.4%	$87.72	+50.8%	COM	053484101
MSFT	MICROSOFT CORP	13,800	$909K	0.4%	$27.11	+113.3%	COM	594918104
SKT	TANGER FACTORY OUTLET REIT	25,200	$826K	0.3%	$33.45	—	COM	875465106
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$822K	0.3%	$67.30	+56.6%	COM	98956P102
UNP	UNION PACIFIC CORPORATION	7,700	$816K	0.3%	$72.17	+21.4%	COM	907818108
TXN	TEXAS INSTRUMENTS INC.	10,000	$806K	0.3%	$25.31	+139.6%	COM	882508104
—	ABBVIE INC.	12,200	$795K	0.3%	$46.09	—	COM	00287y109
BXP	BOSTON PROPERTIES INC. REIT	6,000	$794K	0.3%	$64.00	+41.6%	COM	101121101
PSX	PHILLIPS 66	9,850	$780K	0.3%	$40.44	+41.6%	COM	718546104
—	TIFFANY & CO	8,000	$762K	0.3%	$72.89	—	COM	886547108
—	U.S. BANCORP (FORMERLY FIRST B	14,789	$762K	0.3%	$36.18	—	COM	902973106
AEP	AMERICAN ELECTRIC POWER	10,000	$671K	0.3%	$30.44	+55.7%	COM	025537101
—	GE (FORMERLY GE CAP) 4.875 CA	26,000	$668K	0.3%	$23.69	—	PREFERRED	369622410
GOOG	ALPHABET INC CL C	800	$664K	0.3%	$35.65	+14.2%	COM	02079K107
—	EXPEDIA INC (IAC/INTERACTIVECO	5,000	$631K	0.3%	$60.20	—	COM	30212p105
—	NOVARTIS AG - ADR	8,150	$605K	0.3%	$79.40	—	COM	66987v109
BUD	ANHEUSER-BUSCH INBEV NV SPN AD	5,200	$571K	0.2%	$131.74	—	COM	03524A108
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$547K	0.2%	$67.80	+15.6%	COM	911312106
—	JPMORGAN CHASE 6.125 CALLABLE	20,000	$530K	0.2%	$24.90	—	PREFERRED	48127r461
PSA	PUBLIC STORAGE - REIT	2,388	$523K	0.2%	$97.16	+58.7%	COM	74460D109
HSBC	HSBC HOLDINGS PLC LTD ADR	12,780	$522K	0.2%	$51.90	—	COM	404280406
SYY	SYSCO CORP	10,000	$519K	0.2%	$24.40	+72.3%	COM	871829107
—	BANCO SANTANDER SA ADR	85,410	$518K	0.2%	$6.49	—	COM	05964h105
—	BANK OF AMERICA 6.20 PERP CAL	20,000	$517K	0.2%	$26.05	—	PREFERRED	060505286
—	HOWARD HUGHES CORP (THE)(SPINO	4,296	$504K	0.2%	$112.20	—	COM	44267d107
GILD	GILEAD SCIENCES, INC	7,000	$475K	0.2%	$75.16	-32.6%	COM	375558103
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$473K	0.2%	$13.81	—	COM	76169c100
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$468K	0.2%	$23.37	+47.3%	COM	039483102
—	YUM BRANDS INC (FORMERLY TRICO	7,040	$450K	0.2%	$69.32	—	COM	895953107
BP	BP PLC SPONS ADR	12,642	$436K	0.2%	$40.99	—	COM	055622104
—	FIDELITY NATIONAL INFORMATION	5,364	$427K	0.2%	$42.88	—	COM	31620m106
EMR	EMERSON ELECTRIC CO	7,130	$427K	0.2%	$40.02	+19.8%	COM	291011104
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$407K	0.2%	$27.73	—	COM	31620r303
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$407K	0.2%	$41.05	—	COM	767204100
—	TRAVELERS COMPANIES, INC	3,311	$399K	0.2%	$80.04	—	COM	89417e109
ABT	ABBOTT LABORATORIES	8,700	$386K	0.2%	$28.85	+28.0%	COM	002824100
SPG	SIMON PROPERTY GROUP, INC. REI	2,200	$378K	0.2%	$115.91	-3.8%	COM	828806109
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$370K	0.2%	$13.43	—	COM	166744201
—	IAC/INTERACTIVECORP	5,000	$369K	0.2%	$65.35	—	COM	44919p508
—	PROSHARES ULTRASHORT 20 YEAR	9,000	$352K	0.1%	$41.89	—	COM	74347b201
—	KKR & CO. LP	18,000	$328K	0.1%	$14.67	—	COM	48248m102
—	APOLLO INVESTMENT CORPORATION	50,000	$328K	0.1%	$5.56	—	COM	03761U106
—	BLACKSTONE GROUP LP (THE)	11,000	$327K	0.1%	$28.07	—	COM	09253u108
STZ	CONSTELLATION BRANDS, INC.	2,000	$324K	0.1%	$124.77	+9.0%	COM	21036P108
TEVA	TEVA PHARMACEUTICALS ADR	10,000	$321K	0.1%	$39.20	—	COM	881624209
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$301K	0.1%	$26.26	—	COM	22002T108
WFC	WELLS FARGO & CO.	5,300	$295K	0.1%	$36.83	+20.5%	COM	949746101
DAL	DELTA AIR LINES INC	6,000	$276K	0.1%	$38.40	+14.5%	COM	247361702
DB	DEUTSCHE BANK AG	16,000	$275K	0.1%	$10.58	+41.2%	COM	D18190898
BAX	BAXTER INT'L INC	5,106	$265K	0.1%	$32.47	+30.6%	COM	071813109
DRI	DARDEN RESTAURANTS INC	3,000	$251K	0.1%	$53.91	+8.6%	COM	237194105
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$249K	0.1%	$41.94	—	COM	046353108
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$248K	0.1%	$26.50	—	PREFERRED	112714209
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$245K	0.1%	$173.67	—	COM	731572103
—	METLIFE INC	4,000	$211K	0.1%	$54.00	—	COM	59156r108
—	BLACKROCK CAPITAL INVESTMENT C	27,500	$208K	0.1%	$7.56	—	COM	092533108
—	DEUTSCHE BANK AG RIGHTS	16,000	$38,000	0.0%	$2.38	—	RIGHT	d1t769565