Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC.	298,753	$41.29M	12.4%	$83.83	+84.0%	COM	037833100
CVX	CHEVRON CORP	115,236	$16.56M	5.0%	$70.02	+89.7%	COM	166764100
MRK	MERCK & CO., INC.	134,570	$11.59M	3.5%	$35.76	+124.9%	COM	58933Y105
KO	COCA-COLA CO	171,980	$9.634M	2.9%	$29.07	+92.8%	COM	191216100
PG	PROCTER & GAMBLE CO	75,109	$9.483M	2.8%	$56.77	+130.0%	COM	742718109
PM	PHILIP MORRIS INTERNATIONAL-AL	112,506	$9.339M	2.8%	$49.85	+62.4%	COM	718172109
TGT	TARGET CORP-FRMLY DAYTON HUDSO	55,755	$8.273M	2.5%	$59.36	+140.8%	COM	87612E106
DEO	DIAGEO PLC ADR	45,040	$7.648M	2.3%	$113.73	—	COM	25243Q205
BRK/A	BERKSHIRE HATHAWAY INC. CL A	18	$7.316M	2.2%	$165023.42	+159.4%	COM	084670108
JPM	JPMORGAN CHASE & CO.	67,531	$7.057M	2.1%	$38.96	+171.1%	COM	46625H100
PEP	PEPSICO	42,009	$6.858M	2.1%	$56.00	+175.8%	COM	713448108
JNJ	JOHNSON & JOHNSON	40,945	$6.689M	2.0%	$69.26	+120.8%	COM	478160104
NKE	NIKE, INC. CL B	78,570	$6.531M	2.0%	$47.39	+114.3%	COM	654106103
PFE	PFIZER, INC.	141,575	$6.195M	1.9%	$17.77	+127.4%	COM	717081103
GOOG	ALPHABET INC. CL C	61,060	$5.871M	1.8%	$108.12	+2.5%	COM	02079K107
—	ABBVIE INC.	43,500	$5.838M	1.7%	$71.60	—	COM	00287y109
—	IRON MOUNTAIN INC. REIT	131,600	$5.786M	1.7%	$31.99	—	COM	46284v101
MSFT	MICROSOFT CORPORATION	23,904	$5.567M	1.7%	$127.88	+100.9%	COM	594918104
BRK/B	BERKSHIRE HATHAWAY INC. CL B	20,518	$5.479M	1.6%	$206.19	+38.0%	COM	084670702
HD	HOME DEPOT	19,550	$5.395M	1.6%	$56.05	+382.9%	COM	437076102
DIS	DISNEY WALT CO	53,915	$5.086M	1.5%	$94.34	+10.8%	COM	254687106
—	ZOETIS INC.	33,900	$5.027M	1.5%	$30.88	—	COM	98978v103
BOH	BANK OF HAWAII CORPORATION	61,500	$4.681M	1.4%	$49.28	+35.8%	COM	062540109
RHHBY	ROCHE HOLDING LTD ADR	108,000	$4.387M	1.3%	$48.21	—	COM	771195104
GIS	GENERAL MILLS, INC.	56,000	$4.29M	1.3%	$34.14	+98.5%	COM	370334104
BMY	BRISTOL-MYERS SQUIBB CO	60,224	$4.281M	1.3%	$31.01	+100.9%	COM	110122108
MO	ALTRIA GROUP INC.	103,626	$4.184M	1.3%	$22.36	+47.9%	COM	02209S103
KMI	KINDER MORGAN, INC.	245,220	$4.08M	1.2%	$11.69	+26.3%	COM	49456B101
L	LOEWS CORP	77,917	$3.883M	1.2%	$42.08	+31.8%	COM	540424108
EPD	ENTERPRISE PRODUCTS PARTNERS,	157,460	$3.744M	1.1%	$23.47	—	COM	293792107
IBM	INTERNATIONAL BUSINESS MACHINE	31,452	$3.737M	1.1%	$117.45	-1.5%	COM	459200101
VZ	VERIZON COMMUNICATIONS INC.	97,325	$3.695M	1.1%	$38.98	-8.2%	COM	92343V104
—	GENERAL MOTORS COMPANY	112,840	$3.621M	1.1%	$33.71	—	COM	37045v100
WMT	WALMART INC.	26,800	$3.476M	1.0%	$19.98	+110.1%	COM	931142103
SKT	TANGER FACTORY OUTLET REIT	238,150	$3.258M	1.0%	$10.85	—	COM	875465106
—	AON PLC	11,618	$3.112M	0.9%	$64.38	—	COM	037389103
—	PROMETHEUS BIOSCIENCES, INC.	51,047	$3.012M	0.9%	$35.00	—	COM	74349u108
VICI	VICI PROPERTIES INC. (REIT)	100,150	$2.989M	0.9%	$22.68	+20.8%	COM	925652109
—	BANK OF AMERICA 5 PERP CALL 9	141,115	$2.889M	0.9%	$25.06	—	PREFERRED	06055h202
CB	CHUBB LIMITED (FRMLY ACE LIMIT	14,906	$2.711M	0.8%	$94.35	+92.6%	COM	H1467J104
—	ORGANON & CO. (MERCK SPIN OFF)	109,955	$2.573M	0.8%	$30.70	—	COM	68622v106
MDLZ	MONDELEZ INTL INC.(FMRLY KRAFT	45,638	$2.502M	0.7%	$23.16	+144.4%	COM	609207105
STZ	CONSTELLATION BRANDS, INC.	10,875	$2.498M	0.7%	$155.04	+48.0%	COM	21036P108
DLR	DIGITAL REALTY TRUST, INC. REI	22,840	$2.265M	0.7%	$120.34	-9.8%	COM	253868103
—	CONOCOPHILLIPS	21,700	$2.221M	0.7%	$64.70	—	COM	20825c104
BTI	BRITISH AMERICAN TOBACCO PLC -	61,864	$2.196M	0.7%	$38.40	—	COM	110448107
SRE	SEMPRA ENERGY	14,500	$2.174M	0.7%	$42.21	+71.7%	COM	816851109
—	TOTALENERGIES SE ADR (FRMRLY T	40,795	$1.898M	0.6%	$48.47	—	COM	89151E109
BPY 6.5 PERP A-1	BROOKFIELD PRPTY PTNRS LP 6.5 PFD	100,000	$1.897M	0.6%	$24.83	—	PREFERRED	G16249149
NSRGY	NESTLE SA - SPON ADR	17,000	$1.829M	0.5%	$79.48	—	COM	641069406
—	PRUDENTIAL FINANCIAL INC 5.625	74,000	$1.812M	0.5%	$24.87	—	PREFERRED	744320805
META	META PLATFORMS INC. (FRMLY FAC	13,195	$1.79M	0.5%	$135.53	+18.8%	COM	30303M102
KMB	KIMBERLY-CLARK	14,700	$1.654M	0.5%	$64.11	+78.3%	COM	494368103
CI	CIGNA CORP (ACQUIRED EXPRESS S	5,932	$1.646M	0.5%	$190.77	+38.8%	COM	125523100
MCD	MCDONALD'S CORP	7,000	$1.615M	0.5%	$171.84	+37.5%	COM	580135101
TXN	TEXAS INSTRUMENTS INC.	10,000	$1.548M	0.5%	$25.31	+499.1%	COM	882508104
UNP	UNION PACIFIC CORPORATION	7,500	$1.461M	0.4%	$72.17	+183.0%	COM	907818108
—	RAYTHEON TECHNOLGIES CORP - NC	17,400	$1.424M	0.4%	$65.80	—	COM	75513e101
INTC	INTEL CORP	54,200	$1.397M	0.4%	$17.18	+88.1%	COM	458140100
AMAT	APPLIED MATERIALS INC	16,775	$1.374M	0.4%	$105.93	-11.7%	COM	038222105
—	ALLEGHANY CORP	1,594	$1.338M	0.4%	$383.31	—	COM	017175100
CAT	CATERPILLAR INC.	6,700	$1.099M	0.3%	$111.53	+54.4%	COM	149123101
—	REXFORD INDUSTRIAL REALTY, INC	21,000	$1.092M	0.3%	$13.81	—	COM	76169c100
AMZN	AMAZON.COM, INC.	9,100	$1.028M	0.3%	$123.83	+2.1%	COM	023135106
XOM	EXXON MOBIL CORPORATION	11,700	$1.022M	0.3%	$76.52	+6.3%	COM	30231G102
PSX	PHILLIPS 66	12,600	$1.017M	0.3%	$51.48	+46.4%	COM	718546104
NVDA	NVIDIA CORPORATION	8,255	$1.002M	0.3%	$18.06	-12.6%	COM	67066G104
—	BLACKSTONE INC. (THE)	11,000	$921K	0.3%	$44.45	—	COM	09260d107
AVB	AVALONBAY COMMUNITIES, INC REIT	5,000	$921K	0.3%	$87.72	+103.2%	COM	053484101
MS	MORGAN STANLEY	11,400	$901K	0.3%	$39.15	+92.2%	COM	617446448
—	PUBLIC STORAGE 5.15 SER F CAL	40,000	$873K	0.3%	$24.97	—	PREFERRED	74460W685
AEP	AMERICAN ELECTRIC POWER	10,000	$865K	0.3%	$30.44	+186.1%	COM	025537101
ABT	ABBOTT LABORATORIES	8,700	$842K	0.3%	$28.85	+246.7%	COM	002824100
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$824K	0.2%	$67.80	+136.7%	COM	911312106
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$818K	0.2%	$23.37	+217.9%	COM	039483102
—	NOVARTIS AG - ADR	10,750	$817K	0.2%	$81.77	—	COM	66987v109
—	KKR & CO. INC.	18,000	$774K	0.2%	$27.28	—	COM	48251w104
—	JPMORGAN CHASE 6.00 CALLABLE	30,000	$749K	0.2%	$26.13	—	PREFERRED	48128b648
SYY	SYSCO CORP	10,000	$707K	0.2%	$24.40	+210.3%	COM	871829107
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,700	$700K	0.2%	$67.30	+58.2%	COM	98956P102
PSA	PUBLIC STORAGE - REIT	2,388	$699K	0.2%	$97.16	+189.4%	COM	74460D109
—	CROWN CASTLE INTERNATIONAL COR	4,800	$694K	0.2%	$172.08	—	COM	22822v101
—	YUM BRANDS INC. (FORMERLY TRIC	6,080	$647K	0.2%	$69.32	—	COM	895953107
—	U.S. BANCORP (FORMERLY FIRST B	14,610	$589K	0.2%	$36.18	—	COM	902973106
—	ENERGY TRANSFER LP 7.375 PFD	26,000	$568K	0.2%	$25.27	—	PREFERRED	29273v407
—	COCA-COLA EUROPACIFIC PARTNERS	13,000	$554K	0.2%	$45.85	—	COM	g25839104
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$551K	0.2%	$41.05	—	COM	767204100
EMR	EMERSON ELECTRIC CO	7,130	$522K	0.2%	$40.02	+94.0%	COM	291011104
—	CARRIER GLOBAL CORP (UNITED TE	14,400	$512K	0.2%	$22.22	—	COM	14448c104
—	TRAVELERS COMPANIES, INC.	3,311	$507K	0.2%	$80.04	—	COM	89417e109
—	EXPEDIA INC.(IAC/INTERACTIVECO	4,900	$459K	0.1%	$134.34	—	COM	30212p303
—	OTIS WORLDWIDE CORP (UNITED TE	7,200	$459K	0.1%	$56.81	—	COM	68902v107
BXP	BOSTON PROPERTIES INC. REIT	6,000	$450K	0.1%	$64.00	+8.7%	COM	101121101
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$439K	0.1%	$41.94	—	COM	046353108
—	FIDELITY NATIONAL INFORMATION	5,364	$405K	0.1%	$42.88	—	COM	31620m106
DRI	DARDEN RESTAURANTS INC.	3,000	$379K	0.1%	$60.40	+85.7%	COM	237194105
—	FIDELITY NATIONAL FINANCIAL, I	10,458	$379K	0.1%	$27.73	—	COM	31620r303
—	VODAFONE GROUP PLC SPONS ADR	32,662	$370K	0.1%	$16.62	—	COM	92857t107
TSM	TAIWAN SEMICONDUCTOR MFG CO LT	5,006	$343K	0.1%	$46.54	—	COM	874039100
BP	BP PLC SPONS ADR	11,642	$332K	0.1%	$40.99	—	COM	055622104
EW	EDWARDS LIFESCIENCES CORP.	3,820	$316K	0.1%	$63.68	+51.1%	COM	28176E108
SWRAY	SWIRE PACIFIC LTD SPONS ADR RP	40,000	$300K	0.1%	$9.19	—	COM	870794302
—	YUM CHINA HOLDINGS, INC.	5,853	$277K	0.1%	$39.49	—	COM	98850p109
F	FORD MOTOR COMPANY	24,390	$273K	0.1%	$8.12	+33.7%	COM	345370860
—	IAC INC.	4,925	$273K	0.1%	$154.11	—	COM	44891n208
RL	RALPH LAUREN CORP (FMLY POLO R	3,000	$255K	0.1%	$87.38	+0.6%	COM	751212101
ALL	ALLSTATE CORP	2,000	$249K	0.1%	$86.64	+32.3%	COM	020002101
BAX	BAXTER INT'L INC.	4,606	$248K	0.1%	$32.47	+70.3%	COM	071813109
—	METLIFE INC.	4,000	$243K	0.1%	$60.75	—	COM	59156r108
—	HOWARD HUGHES CORP (THE)(SPINO	4,100	$227K	0.1%	$112.20	—	COM	44267d107
CDP	CORPORATE OFFICE PROPERTY TRUS	9,100	$211K	0.1%	$27.25	—	COM	22002T108
—	BLACK KNIGHT INC. (FNF GROUP S	3,206	$208K	0.1%	$65.50	—	COM	09215C105
TOST	TOAST, INC.	11,800	$197K	0.1%	$22.59	-23.2%	COM	888787108
—	AEGON NV - NY REG SHRS	36,691	$145K	0.0%	$2.55	—	COM	007924103
—	MARKER THERAPEUTICS, INC.	279,000	$103K	0.0%	$1.04	—	COM	57055L107
—	CREDIT SUISSE GROUP AG - SPON	10,000	$39,000	0.0%	$7.90	—	COM	225401108