Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CVX	CHEVRON CORP	117,848	$13.44M	5.4%	$114.04 *	$69.82	+21.8%	COM	166764100
AAPL	APPLE INC.	76,615	$12.85M	5.2%	$167.77 *	$17.88	+126.1%	COM	037833100
XOM	EXXON MOBIL CORPORATION	161,756	$12.07M	4.9%	$74.61 *	$53.69	+3.8%	COM	30231G102
PM	PHILIP MORRIS INTERNATIONAL-AL	113,806	$11.31M	4.6%	$99.40 *	$49.85	+37.8%	COM	718172109
JPM	JPMORGAN CHASE & CO.	81,134	$8.922M	3.6%	$109.97 *	$38.96	+134.7%	COM	46625H100
IBM	INTERNATIONAL BUSINESS MACHINE	52,092	$7.992M	3.2%	$153.42 *	$117.65	-8.8%	COM	459200101
—	ROYAL DUTCH SHELL PLC - ADR A	119,670	$7.636M	3.1%	$63.81	$60.31	—	COM	780259206
KO	COCA-COLA CO	173,015	$7.514M	3.0%	$43.43 *	$28.23	+24.2%	COM	191216100
MRK	MERCK & CO.	134,470	$7.325M	2.9%	$54.47 *	$35.76	+18.2%	COM	58933Y105
DEO	DIAGEO PLC ADR	45,840	$6.208M	2.5%	$135.43	$113.73	—	COM	25243Q205
PG	PROCTER & GAMBLE CO	74,414	$5.9M	2.4%	$79.29 *	$55.13	+23.1%	COM	742718109
NKE	NIKE, INC. CL B	82,850	$5.505M	2.2%	$66.45 *	$45.26	+31.7%	COM	654106103
BRK/A	BERKSHIRE HATHAWAY INC. CL A	18	$5.384M	2.2%	$299111.11 *	$165023.42	+86.8%	COM	084670108
—	GENERAL MOTORS CO	141,380	$5.138M	2.1%	$36.34	$35.16	—	COM	37045v100
JNJ	JOHNSON & JOHNSON	37,510	$4.807M	1.9%	$128.15 *	$59.66	+81.6%	COM	478160104
PEP	PEPSICO	42,409	$4.629M	1.9%	$109.15 *	$56.00	+59.4%	COM	713448108
PFE	PFIZER, INC.	124,472	$4.418M	1.8%	$35.49 *	$16.46	+47.3%	COM	717081103
HD	HOME DEPOT	22,550	$4.019M	1.6%	$178.23 *	$56.05	+176.0%	COM	437076102
—	BERKSHIRE HATHAWAY INC. CL B	20,014	$3.992M	1.6%	$199.46	$111.92	—	COM	084670207
L	LOEWS CORP	79,477	$3.952M	1.6%	$49.73	$42.08	+16.0%	COM	540424108
T	AT&T INC.	109,138	$3.891M	1.6%	$35.65 *	$15.44	+2.4%	COM	00206R102
BMY	BRISTOL-MYERS SQUIBB CO	59,924	$3.79M	1.5%	$63.25 *	$28.67	+67.8%	COM	110122108
TGT	TARGET CORP-FRMLY DAYTON HUDSO	54,020	$3.751M	1.5%	$69.44 *	$52.52	+11.3%	COM	87612E106
MO	ALTRIA GROUP INC.	51,206	$3.191M	1.3%	$62.32 *	$16.28	+124.7%	COM	02209S103
—	TWENTY-FIRST CENTURY FOX, INC.	85,342	$3.131M	1.3%	$36.69	$32.58	—	COM	90130A101
—	GGP INC. REIT - FMRLY GENERAL	147,894	$3.026M	1.2%	$20.46	$22.03	—	COM	36174x101
—	ZOETIS INC.	34,076	$2.846M	1.1%	$83.52	$30.88	—	COM	98978v103
INTC	INTEL CORP	54,500	$2.838M	1.1%	$52.07 *	$17.18	+133.2%	COM	458140100
RHHBY	ROCHE HOLDINGS LTD ADR	85,250	$2.44M	1.0%	$28.62	$49.80	—	COM	771195104
SPG	SIMON PROPERTY GROUP, INC. REI	15,700	$2.423M	1.0%	$154.33 *	$104.77	-0.9%	COM	828806109
WMT	WALMART INC.	26,800	$2.384M	1.0%	$88.96 *	$19.98	+41.8%	COM	931142103
KMI	KINDER MORGAN, INC.	155,950	$2.349M	0.9%	$15.06 *	$12.10	-8.5%	COM	49456B101
BA	BOEING COMPANY	6,825	$2.238M	0.9%	$327.91	$81.75	+294.9%	COM	097023105
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$2.066M	0.8%	$136.77 *	$94.35	+33.7%	COM	H1467J104
—	TOTAL SA SPON ADR	34,995	$2.019M	0.8%	$57.69	$48.70	—	COM	89151E109
META	FACEBOOK INC.	12,200	$1.949M	0.8%	$159.75 *	$116.75	+52.7%	COM	30303M102
MDLZ	MONDELEZ INTL INC.(FMRLY KRAFT	45,638	$1.904M	0.8%	$41.72 *	$23.16	+54.8%	COM	609207105
—	UNITED TECHNOLOGIES CORP	14,400	$1.812M	0.7%	$125.83	$92.92	—	COM	913017109
DIS	DISNEY WALT CO	17,520	$1.76M	0.7%	$100.46	$57.99	+74.1%	COM	254687106
BAC	BANK OF AMERICA (NEW)	57,017	$1.71M	0.7%	$29.99 *	$10.13	+157.2%	COM	060505104
—	EXPRESS SCRIPTS HOLDING CO	24,441	$1.688M	0.7%	$69.06	$61.73	—	COM	302182100
—	AON PLC	11,618	$1.63M	0.7%	$140.30	$64.38	—	COM	037389103
KMB	KIMBERLY-CLARK	14,800	$1.63M	0.7%	$110.14 *	$64.11	+34.5%	COM	494368103
AAL	AMERICAN AIRLINES GROUP INC.	30,300	$1.574M	0.6%	$51.95	$43.35	+20.6%	COM	02376R102
VZ	VERIZON COMMUNICATIONS INC.	31,592	$1.511M	0.6%	$47.83 *	$28.13	+17.4%	COM	92343V104
KHC	KRAFT HEINZ CO (THE)	23,609	$1.471M	0.6%	$62.31 *	$47.86	+2.3%	COM	500754106
—	BANK OF AMERICA CORP 6.000 CA	50,000	$1.298M	0.5%	$25.96	$26.04	—	PREFERRED	060505260
MSFT	MICROSOFT CORPORATION	13,800	$1.26M	0.5%	$91.30 *	$27.11	+211.0%	COM	594918104
BOH	BANK OF HAWAII CORPORATION	15,000	$1.247M	0.5%	$83.13 *	$31.53	+96.9%	COM	062540109
—	NEW YORK COMMUNITY BANCORP, IN	93,850	$1.223M	0.5%	$13.03	$14.04	—	COM	649445103
—	ABBVIE INC.	12,200	$1.155M	0.5%	$94.67	$46.09	—	COM	00287y109
—	CONOCOPHILLIPS	19,200	$1.138M	0.5%	$59.27	$60.51	—	COM	20825c104
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$1.125M	0.5%	$41.67	$44.20	—	COM	19122T109
SRE	SEMPRA ENERGY	10,000	$1.112M	0.4%	$111.20 *	$35.44	+18.0%	COM	816851109
SWRAY	SINGAPORE AIRLINES	123,431	$1.107M	0.4%	$8.97	$9.19	—	COM	870794302
NSRGY	NESTLE ADR	13,400	$1.059M	0.4%	$79.03	$68.53	—	COM	641069406
TXN	TEXAS INSTRUMENTS INC.	10,000	$1.039M	0.4%	$103.90 *	$25.31	+243.1%	COM	882508104
UNP	UNION PACIFIC CORPORATION	7,700	$1.035M	0.4%	$134.42 *	$72.17	+56.7%	COM	907818108
—	PUBLIC STORAGE 5.15 CALLABLE	42,000	$1.019M	0.4%	$24.26	$25.05	—	PREFERRED	74460W685
—	ALLEGHANY CORP	1,594	$979K	0.4%	$614.18	$383.31	—	COM	017175100
EPD	ENTERPRISE PRODUCTS PARTNERS L	39,840	$975K	0.4%	$24.47	$50.88	—	COM	293792107
GIS	GENERAL MILLS, INC.	20,500	$924K	0.4%	$45.07 *	$31.98	+28.2%	COM	370334104
PSX	PHILLIPS 66	9,600	$921K	0.4%	$95.94 *	$40.44	+76.7%	COM	718546104
—	PUBLIC STORAGE SER W 5.2 CALL	38,000	$918K	0.4%	$24.16	$23.44	—	PREFERRED	74460w875
F	FORD MOTOR COMPANY	79,585	$882K	0.4%	$11.08 *	$8.12	-7.9%	COM	345370860
GOOG	ALPHABET INC. CL C	800	$825K	0.3%	$1031.25 *	$35.65	+53.7%	COM	02079K107
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$822K	0.3%	$164.40 *	$87.72	+42.1%	COM	053484101
BTI	BRITISH AMERICAN TOBACCO SPON	13,963	$806K	0.3%	$57.72	$57.72	—	COM	110448107
—	IAC/INTERACTIVECORP	5,000	$782K	0.3%	$156.40	$65.35	—	COM	44919p508
—	TIFFANY & CO	8,000	$781K	0.3%	$97.63	$72.89	—	COM	886547108
—	U.S. BANCORP (FORMERLY FIRST B	14,789	$747K	0.3%	$50.51	$36.18	—	COM	902973106
BXP	BOSTON PROPERTIES INC. REIT	6,000	$739K	0.3%	$123.17 *	$64.00	+33.0%	COM	101121101
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$734K	0.3%	$109.10	$67.30	+61.7%	COM	98956P102
AEP	AMERICAN ELECTRIC POWER	10,000	$686K	0.3%	$68.60 *	$30.44	+67.5%	COM	025537101
—	NOVARTIS AG - ADR	8,150	$659K	0.3%	$80.86	$79.40	—	COM	66987v109
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$605K	0.2%	$28.81	$13.81	—	COM	76169c100
HSBC	HSBC HOLDINGS PLC LTD ADR	12,680	$604K	0.2%	$47.63	$51.90	—	COM	404280406
SYY	SYSCO CORP	10,000	$600K	0.2%	$60.00 *	$24.40	+101.8%	COM	871829107
BUD	ANHEUSER-BUSCH INBEV NV SPN AD	5,200	$572K	0.2%	$110.00	$131.74	—	COM	03524A108
—	HOWARD HUGHES CORP (THE)(SPINO	4,100	$570K	0.2%	$139.02	$112.20	—	COM	44267d107
—	YUM BRANDS INC (FORMERLY TRICO	6,560	$558K	0.2%	$85.06	$69.32	—	COM	895953107
SKT	TANGER FACTORY OUTLET REIT	25,200	$554K	0.2%	$21.98	$33.45	—	COM	875465106
—	EXPEDIA INC.(IAC/INTERACTIVECO	5,000	$552K	0.2%	$110.40	$60.20	—	COM	30212p105
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$534K	0.2%	$104.71 *	$67.80	+26.0%	COM	911312106
GILD	GILEAD SCIENCES, INC.	7,000	$528K	0.2%	$75.43 *	$75.16	-21.6%	COM	375558103
—	BANCO SANTANDER SA ADR	79,997	$524K	0.2%	$6.55	$6.49	—	COM	05964h105
—	JPMORGAN CHASE 6.125 CALLABLE	20,000	$523K	0.2%	$26.15	$24.90	—	PREFERRED	48127r461
ABT	ABBOTT LABORATORIES	8,700	$521K	0.2%	$59.89 *	$28.85	+82.3%	COM	002824100
—	BANK OF AMERICA 6.20 PERP CAL	20,000	$520K	0.2%	$26.00	$26.05	—	PREFERRED	060505286
—	FIDELITY NATIONAL INFORMATION	5,364	$517K	0.2%	$96.38	$42.88	—	COM	31620m106
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$515K	0.2%	$51.50	$41.05	—	COM	767204100
BP	BP PLC SPONS ADR	12,642	$513K	0.2%	$40.58	$40.99	—	COM	055622104
EMR	EMERSON ELECTRIC CO	7,130	$487K	0.2%	$68.30 *	$40.02	+47.4%	COM	291011104
PSA	PUBLIC STORAGE - REIT	2,388	$479K	0.2%	$200.59 *	$97.16	+45.0%	COM	74460D109
—	TRAVELERS COMPANIES, INC	3,311	$460K	0.2%	$138.93	$80.04	—	COM	89417e109
STZ	CONSTELLATION BRANDS, INC.	2,000	$456K	0.2%	$228.00 *	$124.77	+55.6%	COM	21036P108
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$441K	0.2%	$43.35 *	$23.37	+42.7%	COM	039483102
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$419K	0.2%	$40.07	$27.73	—	COM	31620r303
—	KKR & CO. LP	18,000	$365K	0.1%	$20.28	$14.67	—	COM	48248m102
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$360K	0.1%	$12.00	$13.43	—	COM	166744201
—	BLACKSTONE GROUP LP (THE)	11,000	$351K	0.1%	$31.91	$28.07	—	COM	09253u108
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$335K	0.1%	$111.67	$173.67	—	COM	731572103
BAX	BAXTER INT'L INC.	5,106	$332K	0.1%	$65.02 *	$32.47	+81.4%	COM	071813109
DAL	DELTA AIR LINES INC.	6,000	$329K	0.1%	$54.83 *	$38.40	+32.2%	COM	247361702
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$280K	0.1%	$35.00	$41.94	—	COM	046353108
WFC	WELLS FARGO & CO.	5,300	$278K	0.1%	$52.45 *	$36.83	+29.6%	COM	949746101
—	YUM CHINA HOLDINGS, INC.	6,560	$272K	0.1%	$41.46	$39.49	—	COM	98850p109
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$270K	0.1%	$27.00	$26.50	—	PREFERRED	112714209
—	APOLLO INVESTMENT CORPORATION	50,000	$261K	0.1%	$5.22	$5.56	—	COM	03761U106
DRI	DARDEN RESTAURANTS INC.	3,000	$256K	0.1%	$85.33 *	$53.91	+41.2%	COM	237194105
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$235K	0.1%	$25.82	$26.26	—	COM	22002T108
TSM	TAIWAN SEMICONDUCTOR MFG CO LT	5,006	$219K	0.1%	$43.75	$43.75	—	COM	874039100
—	BLACKROCK CAPITAL INVESTMENT C	27,500	$166K	0.1%	$6.04	$7.56	—	COM	092533108