Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CVX	CHEVRON CORP	117,628	$12.8M	5.5%	$108.79 *	$69.82	+21.4%	COM	166764100
AAPL	APPLE INC.	78,805	$12.43M	5.3%	$157.74 *	$18.48	+149.0%	COM	037833100
XOM	EXXON MOBIL CORPORATION	156,356	$10.66M	4.6%	$68.19 *	$53.69	+5.0%	COM	30231G102
MRK	MERCK & CO.	134,470	$10.28M	4.4%	$76.41 *	$35.76	+58.0%	COM	58933Y105
KO	COCA-COLA CO	173,015	$8.192M	3.5%	$47.35 *	$28.23	+36.0%	COM	191216100
JPM	JPMORGAN CHASE & CO.	81,134	$7.92M	3.4%	$97.62 *	$38.96	+124.7%	COM	46625H100
PM	PHILIP MORRIS INTERNATIONAL-AL	113,806	$7.598M	3.3%	$66.76 *	$49.85	+14.9%	COM	718172109
—	ROYAL DUTCH SHELL PLC - ADR A	120,270	$7.008M	3.0%	$58.27	$60.31	—	COM	780259206
PG	PROCTER & GAMBLE CO	74,414	$6.84M	2.9%	$91.92 *	$55.13	+35.6%	COM	742718109
DEO	DIAGEO PLC ADR	45,840	$6.5M	2.8%	$141.80	$113.73	—	COM	25243Q205
NKE	NIKE, INC. CL B	82,850	$6.142M	2.6%	$74.13 *	$45.26	+50.6%	COM	654106103
BRK/A	BERKSHIRE HATHAWAY INC. CL A	18	$5.508M	2.4%	$306000.00 *	$165023.42	+89.7%	COM	084670108
PFE	PFIZER, INC.	124,472	$5.433M	2.3%	$43.65 *	$16.46	+82.5%	COM	717081103
JNJ	JOHNSON & JOHNSON	37,410	$4.828M	2.1%	$129.06 *	$59.66	+91.3%	COM	478160104
PEP	PEPSICO	42,409	$4.685M	2.0%	$110.47 *	$56.00	+61.9%	COM	713448108
BA	BOEING COMPANY	13,525	$4.362M	1.9%	$322.51 *	$206.13	+62.5%	COM	097023105
—	BERKSHIRE HATHAWAY INC. CL B	20,018	$4.087M	1.8%	$204.17	$111.92	—	COM	084670207
—	TWENTY-FIRST CENTURY FOX, INC.	84,342	$4.059M	1.7%	$48.13	$32.58	—	COM	90130A101
HD	HOME DEPOT	22,550	$3.875M	1.7%	$171.84 *	$56.05	+168.3%	COM	437076102
L	LOEWS CORP	79,477	$3.618M	1.6%	$45.52	$42.08	+8.6%	COM	540424108
—	GENERAL MOTORS CO	106,780	$3.572M	1.5%	$33.45	$35.16	—	COM	37045v100
TGT	TARGET CORP-FRMLY DAYTON HUDSO	53,270	$3.521M	1.5%	$66.10 *	$52.52	+20.5%	COM	87612E106
BMY	BRISTOL-MYERS SQUIBB CO	59,924	$3.115M	1.3%	$51.98 *	$28.67	+43.0%	COM	110122108
—	ZOETIS INC.	34,076	$2.915M	1.3%	$85.54	$30.88	—	COM	98978v103
IBM	INTERNATIONAL BUSINESS MACHINE	25,292	$2.875M	1.2%	$113.67 *	$117.65	-25.2%	COM	459200101
RHHBY	ROCHE HOLDINGS LTD ADR	85,250	$2.65M	1.1%	$31.09	$49.80	—	COM	771195104
SPG	SIMON PROPERTY GROUP, INC. REI	15,700	$2.637M	1.1%	$167.96 *	$104.77	+15.4%	COM	828806109
INTC	INTEL CORP	54,500	$2.558M	1.1%	$46.94 *	$17.18	+134.0%	COM	458140100
MO	ALTRIA GROUP INC.	51,206	$2.529M	1.1%	$49.39 *	$16.28	+103.5%	COM	02209S103
WMT	WALMART INC.	26,800	$2.496M	1.1%	$93.13 *	$19.98	+43.9%	COM	931142103
T	AT&T INC.	83,138	$2.373M	1.0%	$28.54 *	$15.44	-9.2%	COM	00206R102
CB	CHUBB LIMITED (FRMLY ACE LIMIT	15,106	$1.951M	0.8%	$129.15 *	$94.35	+21.4%	COM	H1467J104
DIS	DISNEY WALT CO	17,520	$1.921M	0.8%	$109.65	$57.99	+88.2%	COM	254687106
MDLZ	MONDELEZ INTL INC.(FMRLY KRAFT	45,638	$1.827M	0.8%	$40.03 *	$23.16	+54.5%	COM	609207105
—	TOTAL SA SPON ADR	34,995	$1.826M	0.8%	$52.18	$48.70	—	COM	89151E109
VZ	VERIZON COMMUNICATIONS INC.	31,592	$1.776M	0.8%	$56.22 *	$28.13	+37.3%	COM	92343V104
META	FACEBOOK INC.	13,415	$1.759M	0.8%	$131.12 *	$134.59	+6.9%	COM	30303M102
—	PRUDENTIAL FINANCIAL INC 5.625	72,000	$1.702M	0.7%	$23.64	$24.77	—	PREFERRED	744320805
—	AON PLC	11,618	$1.689M	0.7%	$145.38	$64.38	—	COM	037389103
KMB	KIMBERLY-CLARK	14,800	$1.686M	0.7%	$113.92 *	$64.11	+34.8%	COM	494368103
—	UNITED TECHNOLOGIES CORP	14,400	$1.533M	0.7%	$106.46	$92.92	—	COM	913017109
GIS	GENERAL MILLS, INC.	39,000	$1.519M	0.7%	$38.95 *	$32.84	+0.4%	COM	370334104
MSFT	MICROSOFT CORPORATION	13,800	$1.402M	0.6%	$101.59	$27.11	+268.8%	COM	594918104
BAC	BANK OF AMERICA (NEW)	56,633	$1.395M	0.6%	$24.63 *	$10.13	+125.0%	COM	060505104
—	BANK OF AMERICA CORP 6.000 CA	50,000	$1.253M	0.5%	$25.06	$26.04	—	PREFERRED	060505260
—	COCA-COLA EUROPEAN PARTNERS PL	27,000	$1.238M	0.5%	$45.85	$45.85	—	COM	g25839104
—	CONOCOPHILLIPS	19,200	$1.197M	0.5%	$62.34	$60.51	—	COM	20825c104
KMI	KINDER MORGAN, INC.	77,450	$1.191M	0.5%	$15.38 *	$12.10	-7.5%	COM	49456B101
CI	CIGNA CORP (ACQUIRED EXPRESS S	5,940	$1.128M	0.5%	$189.90	$190.77	0.0%	COM	125523100
—	ABBVIE INC.	12,200	$1.125M	0.5%	$92.21	$46.09	—	COM	00287y109
NSRGY	NESTLE ADR	13,400	$1.085M	0.5%	$80.97	$68.53	—	COM	641069406
SRE	SEMPRA ENERGY	10,000	$1.082M	0.5%	$108.20 *	$35.44	+27.6%	COM	816851109
UNP	UNION PACIFIC CORPORATION	7,700	$1.064M	0.5%	$138.18 *	$72.17	+75.2%	COM	907818108
BOH	BANK OF HAWAII CORPORATION	15,000	$1.01M	0.4%	$67.33 *	$31.53	+81.1%	COM	062540109
SWRAY	SINGAPORE AIRLINES	123,431	$1.008M	0.4%	$8.17	$9.19	—	COM	870794302
—	ALLEGHANY CORP	1,594	$994K	0.4%	$623.59	$383.31	—	COM	017175100
KHC	KRAFT HEINZ CO (THE)	22,909	$986K	0.4%	$43.04 *	$47.86	-23.5%	COM	500754106
EPD	ENTERPRISE PRODUCTS PARTNERS L	39,840	$980K	0.4%	$24.60	$50.88	—	COM	293792107
TXN	TEXAS INSTRUMENTS INC.	10,000	$945K	0.4%	$94.50 *	$25.31	+212.6%	COM	882508104
—	IAC/INTERACTIVECORP	4,925	$901K	0.4%	$182.94	$65.35	—	COM	44919p508
STZ	CONSTELLATION BRANDS, INC.	5,500	$885K	0.4%	$160.91 *	$157.94	+12.0%	COM	21036P108
—	ENERGY TRANSFER OPER LP 7.375	40,000	$880K	0.4%	$22.00	$25.00	—	PREFERRED	29278n301
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$870K	0.4%	$174.00 *	$87.72	+60.8%	COM	053484101
CAT	CATERPILLAR INC.	6,800	$864K	0.4%	$127.06 *	$111.50	0.0%	COM	149123101
GOOG	ALPHABET INC. CL C	800	$828K	0.4%	$1035.00 *	$35.65	+49.0%	COM	02079K107
PSX	PHILLIPS 66	9,600	$827K	0.4%	$86.15 *	$40.44	+81.2%	COM	718546104
—	PUBLIC STORAGE SER W 5.2 CALL	34,000	$748K	0.3%	$22.00	$23.44	—	PREFERRED	74460w875
AEP	AMERICAN ELECTRIC POWER	10,000	$747K	0.3%	$74.70 *	$30.44	+91.8%	COM	025537101
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,728	$698K	0.3%	$103.75 *	$67.30	+57.6%	COM	98956P102
BXP	BOSTON PROPERTIES INC. REIT	6,000	$675K	0.3%	$112.50 *	$64.00	+35.3%	COM	101121101
—	U.S. BANCORP (FORMERLY FIRST B	14,610	$668K	0.3%	$45.72	$36.18	—	COM	902973106
—	PUBLIC STORAGE 5.15 CALLABLE	30,000	$647K	0.3%	$21.57	$25.05	—	PREFERRED	74460W685
—	TIFFANY & CO	8,000	$644K	0.3%	$80.50	$72.89	—	COM	886547108
ABT	ABBOTT LABORATORIES	8,700	$629K	0.3%	$72.30 *	$28.85	+115.4%	COM	002824100
SYY	SYSCO CORP	10,000	$627K	0.3%	$62.70 *	$24.40	+128.4%	COM	871829107
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$619K	0.3%	$29.48	$13.81	—	COM	76169c100
—	NOVARTIS AG - ADR	7,000	$601K	0.3%	$85.86	$79.40	—	COM	66987v109
—	YUM BRANDS INC. (FORMERLY TRIC	6,500	$597K	0.3%	$91.85	$69.32	—	COM	895953107
AMZN	AMAZON.COM, INC.	376	$565K	0.2%	$1502.66 *	$83.14	0.0%	COM	023135106
—	EXPEDIA INC.(IAC/INTERACTIVECO	4,950	$558K	0.2%	$112.73	$60.20	—	COM	30212p105
—	FIDELITY NATIONAL INFORMATION	5,364	$550K	0.2%	$102.54	$42.88	—	COM	31620m106
AAL	AMERICAN AIRLINES GROUP INC.	16,800	$539K	0.2%	$32.08 *	$43.35	-21.1%	COM	02376R102
SKT	TANGER FACTORY OUTLET REIT	25,200	$510K	0.2%	$20.24	$33.45	—	COM	875465106
—	BANK OF AMERICA 6.20 PERP CAL	20,000	$507K	0.2%	$25.35	$26.05	—	PREFERRED	060505286
—	JPMORGAN CHASE 6.125 CALLABLE	20,000	$507K	0.2%	$25.35	$24.90	—	PREFERRED	48127r461
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$497K	0.2%	$97.45 *	$67.80	+21.1%	COM	911312106
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$485K	0.2%	$48.50	$41.05	—	COM	767204100
PSA	PUBLIC STORAGE - REIT	2,388	$483K	0.2%	$202.26 *	$97.16	+56.3%	COM	74460D109
BP	BP PLC SPONS ADR	12,642	$479K	0.2%	$37.89	$40.99	—	COM	055622104
—	NEW YORK COMMUNITY BANCORP, IN	47,300	$445K	0.2%	$9.41	$14.04	—	COM	649445103
EMR	EMERSON ELECTRIC CO	7,130	$426K	0.2%	$59.75 *	$40.02	+42.4%	COM	291011104
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$417K	0.2%	$40.99 *	$23.37	+61.4%	COM	039483102
—	HOWARD HUGHES CORP (THE)(SPINO	4,100	$400K	0.2%	$97.56	$112.20	—	COM	44267d107
—	TRAVELERS COMPANIES, INC.	3,311	$396K	0.2%	$119.60	$80.04	—	COM	89417e109
—	KKR & CO. INC.	18,000	$353K	0.2%	$19.61	$27.28	—	COM	48251w104
BUD	ANHEUSER-BUSCH INBEV NV SPN AD	5,200	$342K	0.1%	$65.77	$131.74	—	COM	03524A108
BAX	BAXTER INT'L INC.	5,106	$336K	0.1%	$65.80 *	$32.47	+81.5%	COM	071813109
—	FNF GROUP (FIDELITY NATL FINCL	10,458	$329K	0.1%	$31.46	$27.73	—	COM	31620r303
—	BLACKSTONE GROUP LP (THE)	11,000	$328K	0.1%	$29.82	$28.07	—	COM	09253u108
—	RALPH LAUREN CORP (FMLY POLO R	3,000	$310K	0.1%	$103.33	$173.67	—	COM	731572103
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$304K	0.1%	$38.00	$41.94	—	COM	046353108
—	BROOKFIELD PPTY PTNRS LP(ACQUI	18,795	$303K	0.1%	$16.12	$20.90	—	COM	G16249107
DRI	DARDEN RESTAURANTS INC.	3,000	$300K	0.1%	$100.00 *	$53.91	+62.8%	COM	237194105
DAL	DELTA AIR LINES INC.	6,000	$299K	0.1%	$49.83 *	$38.40	+33.1%	COM	247361702
—	CK HUTCHISON HOLDINGS(FRM CHEU	30,000	$284K	0.1%	$9.47	$13.43	—	COM	166744201
—	BANCO SANTANDER SA ADR	63,337	$284K	0.1%	$4.48	$6.49	—	COM	05964h105
WFC	WELLS FARGO & CO.	5,300	$244K	0.1%	$46.04 *	$36.83	+14.1%	COM	949746101
—	YUM CHINA HOLDINGS, INC.	6,387	$214K	0.1%	$33.51	$39.49	—	COM	98850p109
—	BROOKFIELD DTLA FD OFFICE TR P	10,000	$207K	0.1%	$20.70	$26.50	—	PREFERRED	112714209
EW	EDWARDS LIFESCIENCES CORP.	1,340	$205K	0.1%	$152.99 *	$48.91	+3.5%	COM	28176E108
F	FORD MOTOR COMPANY	24,390	$187K	0.1%	$7.67 *	$8.12	-23.6%	COM	345370860