Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC.	78,415	$17.7M	6.5%	$18.48	+166.6%	COM	037833100
CVX	CHEVRON CORP	117,628	$14.38M	5.3%	$69.82	+25.9%	COM	166764100
XOM	EXXON MOBIL CORPORATION	161,756	$13.75M	5.1%	$53.69	+8.4%	COM	30231G102
MRK	MERCK & CO.	134,470	$9.539M	3.5%	$35.76	+41.6%	COM	58933Y105
PM	PHILIP MORRIS INTERNATIONAL-AL	113,806	$9.28M	3.4%	$49.85	+11.3%	COM	718172109
JPM	JPMORGAN CHASE & CO.	81,134	$9.155M	3.4%	$38.96	+137.7%	COM	46625H100
—	ROYAL DUTCH SHELL PLC - ADR A	119,670	$8.154M	3.0%	$60.31	—	COM	780259206
KO	COCA-COLA CO	173,015	$7.992M	2.9%	$28.23	+28.6%	COM	191216100
IBM	INTERNATIONAL BUSINESS MACHINE	52,092	$7.877M	2.9%	$117.65	-13.9%	COM	459200101
NKE	NIKE, INC. CL B	82,850	$7.019M	2.6%	$45.26	+61.2%	COM	654106103
DEO	DIAGEO PLC ADR	45,840	$6.494M	2.4%	$113.73	—	COM	25243Q205
PG	PROCTER & GAMBLE CO	74,414	$6.193M	2.3%	$55.13	+23.0%	COM	742718109
BRK/A	BERKSHIRE HATHAWAY INC. CL A	18	$5.76M	2.1%	$165023.42	+87.7%	COM	084670108
PFE	PFIZER, INC.	124,472	$5.485M	2.0%	$16.46	+68.0%	COM	717081103
JNJ	JOHNSON & JOHNSON	37,410	$5.169M	1.9%	$59.66	+81.1%	COM	478160104
TGT	TARGET CORP-FRMLY DAYTON HUDSO	54,020	$4.765M	1.8%	$52.52	+29.4%	COM	87612E106
—	GENERAL MOTORS CO	141,380	$4.76M	1.8%	$35.16	—	COM	37045v100
PEP	PEPSICO	42,409	$4.741M	1.7%	$56.00	+61.3%	COM	713448108
HD	HOME DEPOT	22,550	$4.671M	1.7%	$56.05	+199.6%	COM	437076102
—	BERKSHIRE HATHAWAY INC. CL B	20,014	$4.285M	1.6%	$111.92	—	COM	084670207
L	LOEWS CORP	79,477	$3.992M	1.5%	$42.08	+15.4%	COM	540424108
—	TWENTY-FIRST CENTURY FOX, INC.	84,342	$3.908M	1.4%	$32.58	—	COM	90130A101
BMY	BRISTOL-MYERS SQUIBB CO	59,924	$3.72M	1.4%	$28.67	+56.9%	COM	110122108
BA	BOEING COMPANY	9,925	$3.691M	1.4%	$159.40	+112.7%	COM	097023105
T	AT&T INC.	109,138	$3.665M	1.3%	$15.44	-6.3%	COM	00206R102
—	ZOETIS INC.	34,076	$3.12M	1.1%	$30.88	—	COM	98978v103
MO	ALTRIA GROUP INC.	51,206	$3.088M	1.1%	$16.28	+106.2%	COM	02209S103
META	FACEBOOK INC.	17,015	$2.798M	1.0%	$134.59	+33.6%	COM	30303M102
SPG	SIMON PROPERTY GROUP, INC. REI	15,700	$2.775M	1.0%	$104.77	+13.0%	COM	828806109
KMI	KINDER MORGAN, INC.	155,450	$2.756M	1.0%	$12.10	-3.4%	COM	49456B101
INTC	INTEL CORP	54,500	$2.577M	0.9%	$17.18	+141.7%	COM	458140100
RHHBY	ROCHE HOLDINGS LTD ADR	85,250	$2.571M	0.9%	$49.80	—	COM	771195104
WMT	WALMART INC.	26,800	$2.517M	0.9%	$19.98	+36.8%	COM	931142103
—	EXPRESS SCRIPTS HOLDING CO	24,441	$2.322M	0.9%	$61.73	—	COM	302182100
—	TOTAL SA SPON ADR	34,995	$2.253M	0.8%	$48.70	—	COM	89151E109
GIS	GENERAL MILLS, INC.	50,500	$2.167M	0.8%	$32.84	+6.5%	COM	370334104
DIS	DISNEY WALT CO	17,520	$2.049M	0.8%	$57.99	+83.8%	COM	254687106
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$2.019M	0.7%	$94.35	+26.4%	COM	H1467J104
—	UNITED TECHNOLOGIES CORP	14,400	$2.013M	0.7%	$92.92	—	COM	913017109
—	PRUDENTIAL FINANCIAL INC 5.625	80,000	$1.982M	0.7%	$24.77	—	PFD	744320805
MDLZ	MONDELEZ INTL INC.(FMRLY KRAFT	45,638	$1.961M	0.7%	$23.16	+53.7%	COM	609207105
—	AON PLC	11,618	$1.787M	0.7%	$64.38	—	COM	037389103
VZ	VERIZON COMMUNICATIONS INC.	31,592	$1.687M	0.6%	$28.13	+26.7%	COM	92343V104
KMB	KIMBERLY-CLARK	14,800	$1.682M	0.6%	$64.11	+35.0%	COM	494368103
BAC	BANK OF AMERICA (NEW)	56,493	$1.664M	0.6%	$10.13	+151.4%	COM	060505104
MSFT	MICROSOFT CORPORATION	13,800	$1.578M	0.6%	$27.11	+271.8%	COM	594918104
—	CONOCOPHILLIPS	19,200	$1.486M	0.5%	$60.51	—	COM	20825c104
KHC	KRAFT HEINZ CO (THE)	23,609	$1.301M	0.5%	$47.86	-12.7%	COM	500754106
—	BANK OF AMERICA CORP 6.000 CA	50,000	$1.293M	0.5%	$26.04	—	PFD	060505260
UNP	UNION PACIFIC CORPORATION	7,700	$1.254M	0.5%	$72.17	+77.1%	COM	907818108
AAL	AMERICAN AIRLINES GROUP INC.	30,300	$1.252M	0.5%	$43.35	-11.6%	COM	02376R102
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$1.228M	0.5%	$44.20	—	COM	19122T109
BOH	BANK OF HAWAII CORPORATION	15,000	$1.184M	0.4%	$31.53	+95.7%	COM	062540109
—	BROOKFIELD PPTY PTNRS LP(ACQUI	55,601	$1.162M	0.4%	$20.90	—	COM	G16249107
—	ABBVIE INC.	12,200	$1.154M	0.4%	$46.09	—	COM	00287y109
EPD	ENTERPRISE PRODUCTS PARTNERS LP	39,840	$1.145M	0.4%	$50.88	—	COM	293792107
SRE	SEMPRA ENERGY	10,000	$1.137M	0.4%	$35.44	+28.6%	COM	816851109
NSRGY	NESTLE ADR	13,400	$1.115M	0.4%	$68.53	—	COM	641069406
PSX	PHILLIPS 66	9,600	$1.082M	0.4%	$40.44	+112.8%	COM	718546104
TXN	TEXAS INSTRUMENTS INC.	10,000	$1.073M	0.4%	$25.31	+256.6%	COM	882508104
—	IAC/INTERACTIVECORP	4,925	$1.067M	0.4%	$65.35	—	COM	44919p508
—	ALLEGHANY CORP	1,594	$1.04M	0.4%	$383.31	—	COM	017175100
SWRAY	SINGAPORE AIRLINES	123,431	$1.037M	0.4%	$9.19	—	COM	870794302
—	TIFFANY & CO	8,000	$1.032M	0.4%	$72.89	—	COM	886547108
—	ENERGY TRANSFER PTRS LP 7.375	40,000	$1.018M	0.4%	$25.00	—	PFD	29278n301
—	PUBLIC STORAGE 5.15 CALLABLE	42,000	$1M	0.4%	$25.05	—	PFD	74460W685
—	NEW YORK COMMUNITY BANCORP, IN	93,850	$973K	0.4%	$14.04	—	COM	649445103
GOOG	ALPHABET INC. CL C	800	$955K	0.4%	$35.65	+66.8%	COM	02079K107
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$906K	0.3%	$87.72	+57.7%	COM	053484101
—	PUBLIC STORAGE SER W 5.2 CALL	38,000	$904K	0.3%	$23.44	—	PFD	74460w875
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$885K	0.3%	$67.30	+66.3%	COM	98956P102
—	U.S. BANCORP (FORMERLY FIRST B	14,610	$772K	0.3%	$36.18	—	COM	902973106
BXP	BOSTON PROPERTIES INC. REIT	6,000	$739K	0.3%	$64.00	+41.1%	COM	101121101
F	FORD MOTOR COMPANY	79,585	$736K	0.3%	$8.12	-15.7%	COM	345370860
SYY	SYSCO CORP	10,000	$732K	0.3%	$24.40	+142.9%	COM	871829107
AEP	AMERICAN ELECTRIC POWER	10,000	$709K	0.3%	$30.44	+80.3%	COM	025537101
—	NOVARTIS AG - ADR	8,150	$702K	0.3%	$79.40	—	COM	66987v109
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$671K	0.2%	$13.81	—	COM	76169c100
—	EXPEDIA INC.(IAC/INTERACTIVECO	4,950	$646K	0.2%	$60.20	—	COM	30212p105
BTI	BRITISH AMERICAN TOBACCO SPON	13,763	$642K	0.2%	$57.72	—	COM	110448107
ABT	ABBOTT LABORATORIES	8,700	$638K	0.2%	$28.85	+100.5%	COM	002824100
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$595K	0.2%	$67.80	+30.4%	COM	911312106
—	YUM BRANDS INC (FORMERLY TRICO	6,500	$591K	0.2%	$69.32	—	COM	895953107
—	FIDELITY NATIONAL INFORMATION	5,364	$585K	0.2%	$42.88	—	COM	31620m106
BP	BP PLC SPONS ADR	12,642	$583K	0.2%	$40.99	—	COM	055622104
SKT	TANGER FACTORY OUTLET REIT	25,200	$577K	0.2%	$33.45	—	COM	875465106
EMR	EMERSON ELECTRIC CO	7,130	$546K	0.2%	$40.02	+54.8%	COM	291011104
—	BANK OF AMERICA 6.20 PERP CAL	20,000	$518K	0.2%	$26.05	—	PFD	060505286
—	JPMORGAN CHASE 6.125 CALLABLE	20,000	$516K	0.2%	$24.90	—	PFD	48127r461
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$511K	0.2%	$23.37	+68.9%	COM	039483102
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$510K	0.2%	$41.05	—	COM	767204100
—	HOWARD HUGHES CORP (THE)(SPINO	4,100	$509K	0.2%	$112.20	—	COM	44267d107
—	KKR & CO. INC.	18,000	$491K	0.2%	$27.28	—	COM	48251w104
PSA	PUBLIC STORAGE - REIT	2,388	$481K	0.2%	$97.16	+63.7%	COM	74460D109
BUD	ANHEUSER-BUSCH INBEV NV SPN AD	5,200	$455K	0.2%	$131.74	—	COM	03524A108
STZ	CONSTELLATION BRANDS, INC.	2,000	$431K	0.2%	$124.77	+51.1%	COM	21036P108
—	TRAVELERS COMPANIES, INC.	3,311	$429K	0.2%	$80.04	—	COM	89417e109
—	BLACKSTONE GROUP LP (THE)	11,000	$419K	0.2%	$28.07	—	COM	09253u108
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$413K	0.2%	$173.67	—	COM	731572103
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$412K	0.2%	$27.73	—	COM	31620r303
—	BANCO SANTANDER SA ADR	79,997	$400K	0.1%	$6.49	—	COM	05964h105
BAX	BAXTER INT'L INC.	5,106	$394K	0.1%	$32.47	+100.0%	COM	071813109
DAL	DELTA AIR LINES INC.	6,000	$347K	0.1%	$38.40	+33.8%	COM	247361702
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$343K	0.1%	$13.43	—	COM	166744201
DRI	DARDEN RESTAURANTS INC.	3,000	$334K	0.1%	$53.91	+70.4%	COM	237194105
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$317K	0.1%	$41.94	—	COM	046353108
WFC	WELLS FARGO & CO.	5,300	$279K	0.1%	$36.83	+26.3%	COM	949746101
—	APOLLO INVESTMENT CORPORATION	50,000	$272K	0.1%	$5.56	—	COM	03761U106
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$271K	0.1%	$26.26	—	COM	22002T108
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$235K	0.1%	$26.50	—	PFD	112714209
EW	EDWARDS LIFESCIENCES CORP.	1,340	$233K	0.1%	$48.91	0.0%	COM	28176E108
—	YUM CHINA HOLDINGS, INC.	6,387	$224K	0.1%	$39.49	—	COM	98850p109
TSM	TAIWAN SEMICONDUCTOR MFG CO LT	5,006	$221K	0.1%	$44.15	—	COM	874039100
—	BLACKROCK CAPITAL INVESTMENT C	27,500	$162K	0.1%	$7.56	—	COM	092533108