Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CVX	CHEVRON CORP	119,396	$14.03M	5.6%	$117.50 *	$69.82	+9.1%	COM	166764100
XOM	EXXON MOBIL CORPORATION	162,656	$13.34M	5.3%	$81.98 *	$53.69	+1.2%	COM	30231G102
PM	PHILIP MORRIS INTERNATIONAL-AL	115,406	$12.81M	5.1%	$111.01 *	$49.85	+50.9%	COM	718172109
AAPL	APPLE INC.	81,235	$12.52M	5.0%	$154.12 *	$17.88	+102.2%	COM	037833100
MRK	MERCK & CO.	136,170	$8.719M	3.5%	$64.03 *	$35.76	+30.6%	COM	58933Y105
KO	COCA-COLA CO	175,615	$7.904M	3.1%	$45.01 *	$28.23	+23.8%	COM	191216100
JPM	JPMORGAN CHASE & CO.	81,434	$7.778M	3.1%	$95.51 *	$38.96	+89.1%	COM	46625H100
IBM	INTERNATIONAL BUSINESS MACHINE	52,192	$7.572M	3.0%	$145.08 *	$117.65	-17.7%	COM	459200101
—	ROYAL DUTCH SHELL PLC - ADR A	120,670	$7.31M	2.9%	$60.58	$60.31	—	COM	780259206
PG	PROCTER & GAMBLE CO	75,414	$6.861M	2.7%	$90.98 *	$55.13	+32.4%	COM	742718109
MO	ALTRIA GROUP INC	103,406	$6.558M	2.6%	$63.42 *	$16.28	+121.7%	COM	02209S103
DEO	DIAGEO PLC ADR	46,640	$6.163M	2.4%	$132.14	$113.73	—	COM	25243Q205
—	GENERAL MOTORS CO	141,580	$5.717M	2.3%	$40.38	$35.16	—	COM	37045v100
BRK/A	BERKSHIRE HATHAWAY INC CL A	18	$4.945M	2.0%	$274722.22 *	$165023.42	+60.8%	COM	084670108
JNJ	JOHNSON & JOHNSON	37,510	$4.877M	1.9%	$130.02 *	$59.66	+76.0%	COM	478160104
PEP	PEPSICO	43,609	$4.859M	1.9%	$111.42 *	$56.00	+59.7%	COM	713448108
PFE	PFIZER, INC.	125,230	$4.471M	1.8%	$35.70 *	$16.46	+35.2%	COM	717081103
NKE	NIKE, INC. CL B	82,850	$4.296M	1.7%	$51.85 *	$45.26	+11.3%	COM	654106103
HD	HOME DEPOT	23,550	$3.852M	1.5%	$163.57 *	$56.05	+123.3%	COM	437076102
BMY	BRISTOL-MYERS SQUIBB CO	59,924	$3.82M	1.5%	$63.75 *	$28.67	+50.4%	COM	110122108
L	LOEWS CORP	79,477	$3.804M	1.5%	$47.86 *	$42.08	+9.0%	COM	540424108
—	BERKSHIRE HATHAWAY CL B	20,014	$3.669M	1.5%	$183.32	$111.92	—	COM	084670207
—	GGP INC. REIT - FMRLY GENERAL	149,446	$3.104M	1.2%	$20.77	$22.03	—	COM	36174x101
RHHBY	ROCHE HOLDINGS LTD ADR	88,650	$2.837M	1.1%	$32.00	$49.80	—	COM	771195104
KMI	KINDER MORGAN, INC.	144,850	$2.778M	1.1%	$19.18 *	$12.47	-1.4%	COM	49456B101
—	RBC 5.5 CALL 11/13/17@25(FRML	108,040	$2.731M	1.1%	$25.28	$24.74	—	PREFERRED	78013g402
T	AT&T INC	59,438	$2.328M	0.9%	$39.17 *	$15.60	0.0%	COM	00206R102
—	TWENTY-FIRST CENTURY FOX, INC.	85,342	$2.251M	0.9%	$26.38	$32.58	—	COM	90130A101
—	ZOETIS INC.	34,362	$2.191M	0.9%	$63.76	$30.88	—	COM	98978v103
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$2.153M	0.9%	$142.53 *	$94.35	+32.3%	COM	H1467J104
INTC	INTEL CORP	55,500	$2.113M	0.8%	$38.07 *	$17.18	+72.3%	COM	458140100
WMT	WAL-MART STORES	26,800	$2.094M	0.8%	$78.13 *	$19.98	+14.6%	COM	931142103
BTI	BRITISH AMERICAN TOBACCO SPON	31,782	$1.985M	0.8%	$62.46	$62.46	—	COM	110448107
—	TOTAL SA SPON ADR	36,195	$1.937M	0.8%	$53.52	$48.70	—	COM	89151E109
MDLZ	MONDELEZ INTL INC (FMRLY KRAFT	46,053	$1.873M	0.7%	$40.67 *	$23.16	+49.8%	COM	609207105
KHC	KRAFT HEINZ CO (THE)	23,609	$1.831M	0.7%	$77.56 *	$47.86	+17.9%	COM	500754106
TGT	TARGET CORP-FRMLY DAYTON HUDSO	30,520	$1.801M	0.7%	$59.01 *	$47.95	-8.0%	COM	87612E106
META	FACEBOOK INC	10,200	$1.743M	0.7%	$170.88 *	$104.68	+58.3%	COM	30303M102
BA	BOEING CO	6,850	$1.741M	0.7%	$254.16 *	$81.75	+169.6%	COM	097023105
DIS	DISNEY WALT CO	17,520	$1.727M	0.7%	$98.57	$57.99	+67.2%	COM	254687106
KMB	KIMBERLY-CLARK	14,600	$1.718M	0.7%	$117.67 *	$63.81	+42.6%	COM	494368103
—	AON PLC	11,618	$1.697M	0.7%	$146.07	$64.38	—	COM	037389103
QCOM	QUALCOMM INC.	32,700	$1.695M	0.7%	$51.83 *	$42.52	-0.5%	COM	747525103
—	UNITED TECHNOLOGIES CORP	14,400	$1.672M	0.7%	$116.11	$92.92	—	COM	913017109
VZ	VERIZON	31,718	$1.57M	0.6%	$49.50 *	$26.98	+12.0%	COM	92343V104
—	EXPRESS SCRIPTS HOLDING CO	24,460	$1.549M	0.6%	$63.33	$61.73	—	COM	302182100
BAC	BANK OF AMERICA (NEW)	57,017	$1.445M	0.6%	$25.34 *	$10.13	+97.0%	COM	060505104
AAL	AMERICAN AIRLINES GROUP INC.	30,300	$1.439M	0.6%	$47.49	$43.35	+8.4%	COM	02376R102
—	BANK OF AMERICA CORP 6.000 CA	50,000	$1.33M	0.5%	$26.60	$26.04	—	PREFERRED	060505260
BOH	BANK OF HAWAII CORPORATION	15,000	$1.25M	0.5%	$83.33 *	$31.53	+86.2%	COM	062540109
—	NEW YORK COMMUNITY BANCORP, IN	95,850	$1.236M	0.5%	$12.90	$14.04	—	COM	649445103
SRE	SEMPRA ENERGY	10,000	$1.141M	0.5%	$114.10 *	$35.44	+24.6%	COM	816851109
NSRGY	NESTLE ADR	13,400	$1.126M	0.4%	$84.03	$68.53	—	COM	641069406
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$1.124M	0.4%	$41.63	$44.20	—	COM	19122T109
—	ABBVIE INC.	12,200	$1.084M	0.4%	$88.85	$46.09	—	COM	00287y109
—	PUBLIC STORAGE 5.15 CALLABLE	42,000	$1.064M	0.4%	$25.33	$25.05	—	PREFERRED	74460W685
GIS	GENERAL MILLS INC	20,500	$1.061M	0.4%	$51.76 *	$31.98	+27.3%	COM	370334104
SWRAY	SINGAPORE AIRLINES	127,911	$1.057M	0.4%	$8.26	$9.19	—	COM	870794302
EPD	ENTERPRISE PRODUCTS PARTNERS L	39,840	$1.039M	0.4%	$26.08	$50.88	—	COM	293792107
MSFT	MICROSOFT CORP	13,800	$1.028M	0.4%	$74.49 *	$27.11	+145.9%	COM	594918104
—	CONOCOPHILLIPS	19,700	$986K	0.4%	$50.05	$60.51	—	COM	20825c104
—	PUBLIC STORAGE SER W 5.2 CALL	38,000	$964K	0.4%	$25.37	$23.44	—	PREFERRED	74460w875
F	FORD MOTOR COMPANY	79,585	$953K	0.4%	$11.97 *	$8.12	-10.7%	COM	345370860
PSX	PHILLIPS 66	9,850	$902K	0.4%	$91.57 *	$40.44	+51.5%	COM	718546104
TXN	TEXAS INSTRUMENTS INC.	10,000	$896K	0.4%	$89.60 *	$25.31	+157.6%	COM	882508104
UNP	UNION PACIFIC CORPORATION	7,700	$893K	0.4%	$115.97 *	$72.17	+23.5%	COM	907818108
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$892K	0.4%	$178.40 *	$87.72	+59.9%	COM	053484101
—	ALLEGHANY CORP	1,594	$883K	0.3%	$553.95	$383.31	—	COM	017175100
—	U.S. BANCORP (FORMERLY FIRST B	14,789	$793K	0.3%	$53.62	$36.18	—	COM	902973106
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$788K	0.3%	$117.12 *	$67.30	+60.1%	COM	98956P102
GOOG	ALPHABET INC CL C	800	$767K	0.3%	$958.75 *	$35.65	+29.7%	COM	02079K107
BXP	BOSTON PROPERTIES INC. REIT	6,000	$737K	0.3%	$122.83 *	$64.00	+30.9%	COM	101121101
—	TIFFANY & CO	8,000	$734K	0.3%	$91.75	$72.89	—	COM	886547108
—	EXPEDIA INC (IAC/INTERACTIVECO	5,000	$720K	0.3%	$144.00	$60.20	—	COM	30212p105
AEP	AMERICAN ELECTRIC POWER	10,000	$702K	0.3%	$70.20 *	$30.44	+74.2%	COM	025537101
—	NOVARTIS AG - ADR	8,150	$700K	0.3%	$85.89	$79.40	—	COM	66987v109
HSBC	HSBC HOLDINGS PLC LTD ADR	12,780	$631K	0.2%	$49.37	$51.90	—	COM	404280406
BUD	ANHEUSER-BUSCH INBEV NV SPN AD	5,200	$620K	0.2%	$119.23	$131.74	—	COM	03524A108
SKT	TANGER FACTORY OUTLET REIT	25,200	$615K	0.2%	$24.40	$33.45	—	COM	875465106
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$612K	0.2%	$120.00 *	$67.80	+22.2%	COM	911312106
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$601K	0.2%	$28.62	$13.81	—	COM	76169c100
—	BANCO SANTANDER SA ADR	85,410	$593K	0.2%	$6.94	$6.49	—	COM	05964h105
—	IAC/INTERACTIVECORP	5,000	$588K	0.2%	$117.60	$65.35	—	COM	44919p508
GILD	GILEAD SCIENCES, INC	7,000	$567K	0.2%	$81.00 *	$75.16	-25.6%	COM	375558103
—	GE (FORMERLY GE CAP) 4.875 CA	22,000	$561K	0.2%	$25.50	$23.69	—	PREFERRED	369622410
SYY	SYSCO CORP	10,000	$540K	0.2%	$54.00 *	$24.40	+71.4%	COM	871829107
—	BANK OF AMERICA 6.20 PERP CAL	20,000	$535K	0.2%	$26.75	$26.05	—	PREFERRED	060505286
—	JPMORGAN CHASE 6.125 CALLABLE	20,000	$535K	0.2%	$26.75	$24.90	—	PREFERRED	48127r461
—	YUM BRANDS INC (FORMERLY TRICO	7,040	$518K	0.2%	$73.58	$69.32	—	COM	895953107
PSA	PUBLIC STORAGE - REIT	2,388	$511K	0.2%	$213.99 *	$97.16	+51.0%	COM	74460D109
—	HOWARD HUGHES CORP (THE)(SPINO	4,296	$507K	0.2%	$118.02	$112.20	—	COM	44267d107
—	FIDELITY NATIONAL INFORMATION	5,364	$501K	0.2%	$93.40	$42.88	—	COM	31620m106
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$496K	0.2%	$47.43	$27.73	—	COM	31620r303
BP	BP PLC SPONS ADR	12,642	$486K	0.2%	$38.44	$40.99	—	COM	055622104
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$472K	0.2%	$47.20	$41.05	—	COM	767204100
ABT	ABBOTT LABORATORIES	8,700	$464K	0.2%	$53.33 *	$28.85	+50.3%	COM	002824100
EMR	EMERSON ELECTRIC CO	7,130	$448K	0.2%	$62.83 *	$40.02	+23.0%	COM	291011104
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$432K	0.2%	$42.47 *	$23.37	+40.7%	COM	039483102
—	TRAVELERS COMPANIES, INC	3,311	$406K	0.2%	$122.62	$80.04	—	COM	89417e109
STZ	CONSTELLATION BRANDS, INC.	2,000	$399K	0.2%	$199.50 *	$124.77	+39.1%	COM	21036P108
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$383K	0.2%	$12.77	$13.43	—	COM	166744201
—	BLACKSTONE GROUP LP (THE)	11,000	$367K	0.1%	$33.36	$28.07	—	COM	09253u108
—	KKR & CO. LP	18,000	$366K	0.1%	$20.33	$14.67	—	COM	48248m102
SPG	SIMON PROPERTY GROUP, INC. REI	2,200	$354K	0.1%	$160.91 *	$115.91	-12.1%	COM	828806109
—	PROSHARES ULTRASHORT 20 YEAR	9,000	$320K	0.1%	$35.56	$41.89	—	COM	74347b201
BAX	BAXTER INT'L INC	5,106	$320K	0.1%	$62.67 *	$32.47	+64.8%	COM	071813109
—	APOLLO INVESTMENT CORPORATION	50,000	$306K	0.1%	$6.12	$5.56	—	COM	03761U106
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$299K	0.1%	$32.86	$26.26	—	COM	22002T108
WFC	WELLS FARGO & CO.	5,300	$292K	0.1%	$55.09 *	$36.83	+14.4%	COM	949746101
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$290K	0.1%	$29.00	$26.50	—	PREFERRED	112714209
DAL	DELTA AIR LINES INC	6,000	$289K	0.1%	$48.17 *	$38.40	+18.0%	COM	247361702
—	YUM CHINA HOLDINGS, INC.	7,040	$281K	0.1%	$39.91	$39.49	—	COM	98850p109
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$271K	0.1%	$33.88	$41.94	—	COM	046353108
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$265K	0.1%	$88.33	$173.67	—	COM	731572103
DRI	DARDEN RESTAURANTS INC	3,000	$236K	0.1%	$78.67 *	$53.91	+23.9%	COM	237194105
—	METLIFE INC	4,000	$208K	0.1%	$52.00	$54.00	—	COM	59156r108
—	BLACKROCK CAPITAL INVESTMENT C	27,500	$206K	0.1%	$7.49	$7.56	—	COM	092533108