InvestorLaffer Investments
Portfolio Value $ 391,183,437,000
Current Positions195
Opened Positions4
Closed Positions11


Latest Holdings, Performance, AUM (from 13F, 13D)

Laffer Investments has disclosed 195 total holdings in their latest SEC filings. Most recent portfolio value is calculated to be $ 391,183,437,000 USD. Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). Laffer Investments's top holdings are Microsoft Corp. (NASDAQ:MSFT) , JPMorgan Chase & Co. (NYSE:JPM) , UnitedHealth Group Inc. (NYSE:UNH) , Wells Fargo & Co. (NYSE:WFC) , and Becton Dickinson & Co. 6.125% Preferred Series A (NYSE:BDXA) . Laffer Investments's new positions include VEREIT, Inc. Bond (02917TAB0) , CSG Systems International, Inc. Bond 4.250% 3/1 (126349AF6) , InterDigital, Inc. Bond (458660AD9) , nVent Electric plc (NYSE:NVT.WI) , and .

All Laffer Investments holdings are listed in the following tables. Data is sourced from 13D/13G, 13F, and N-Q filings. Green rows indicate new positions. Red rows indicate closed positions.

This form was filed on August 16, 2018. Click the link icon to see the full transaction history.

Reporting
Period
Form Security Imputed
Share Price
Prev
Shares
Current
Shares
Change
(Percent)
Prev Value
($1000)
Current Value
($1000)
Change
(Percent)
2018-06-30 13F-HR NVT.WI / nVent Electric plc 25,099.99 31,702 795,720
2018-06-30 13F-HR 126349AF6 / CSG Systems International, Inc. Bond 4.250% 3/1 1,078,821.24 2,053 2,214,820
2018-06-30 13F-HR MMM / 3M Co. 196,720.00 15,707 15,707 0.00 3,448,000 3,089,881 -10.39
2018-06-30 13F-HR Broadcom Corp New / (11135F101) 242,639.79 2,840 689,097
2018-06-30 13F-HR DE / Deere & Co. 139,799.95 16,711 16,711 0.00 2,595,552 2,336,197 -9.99
2018-06-30 13F-HR GRMN / Garmin Ltd. 61,000.00 38,270 38,270 0.00 2,255,251 2,334,470 3.51
2018-06-30 13F-HR Leucadia National Corp / (47233W109) 22,739.99 82,470 1,875,367
2018-06-30 13F-HR QCOM / QUALCOMM Incorporated 56,119.99 49,969 49,969 0.00 2,768,782 2,804,260 1.28
2018-06-30 13F-HR TSS / Total System Services, Inc. 84,520.00 28,881 28,881 0.00 2,491,275 2,441,022 -2.02
2018-06-30 13F-HR WHR / Whirlpool Corp. 146,229.95 13,655 13,655 0.00 2,090,717 1,996,770 -4.49
2018-06-30 13F-HR Ares Capital Corp / CONVERTIBLE BOND (04010LAT0) 1,038,211.30 1,628 1,690,208
2018-06-30 13F-HR 756577AD4 / Red Hat, Inc. Bond 1,827,525.63 1,850 1,619 -12.49 3,756,036 2,958,764 -21.23
2018-06-30 13F-HR 02917TAB0 / VEREIT, Inc. Bond 1,010,564.84 2,799 2,828,571
2018-06-30 13F-HR AMG Capital Trust II / CONVERTIBLE PREFERRED STOCK (00170F209) 59,419.97 30,040 1,784,976
2018-06-30 13F-HR Assurant Inc / CONVERTIBLE PREFERRED STOCK (04621X207) 112,469.99 21,496 2,417,655
2018-06-30 13F-HR Nabors Industries / CONVERTIBLE PREFERRED STOCK (G6359F129) 45,698.92 9,715 443,965
2018-06-30 13F-HR Guggenheim Enhanced Short Duration Bond ETF / EXCHANGE TRADED FUND (46090A887) 50,249.66 2,235 112,308
2018-06-30 13F-HR Digital Realty Trust Inc / PREFERRED STOCK (253868871) 26,039.97 11,958 311,386
2018-06-30 13F-HR STZ / Constellation Brands, Inc. 218,869.95 11,934 11,934 0.00 2,719,997 2,611,994 -3.97
2018-06-30 13F-HR KEY / KeyCorp 19,540.00 116,358 116,358 0.00 2,274,798 2,273,635 -0.05
2018-06-30 13F-HR ADI / Analog Devices, Inc. 95,920.00 27,799 27,799 0.00 2,533,322 2,666,480 5.26
2018-06-30 13F-HR D / Dominion Resources, Inc. 68,179.83 84,841 4,749 -94.40 3,915,072 323,786 -91.73
2018-06-30 13F-HR D / Dominion Resources, Inc. 46,145.99 4,895 84,841 1,633.22 330,069 3,915,072 1,086.14
2018-06-30 13F-HR CMS / CMS Energy Corp. 47,280.00 50,483 50,483 0.00 2,286,375 2,386,836 4.39
2018-06-30 13F-HR SCHW / Schwab Charles Corp 51,099.99 55,684 55,684 0.00 2,907,818 2,845,452 -2.14
2018-06-30 13F-HR AXP / American Express Co. 98,000.00 31,338 31,338 0.00 2,923,208 3,071,124 5.06
2018-06-30 13F-HR ARCC / Ares Capital Corp. 16,449.99 41,407 40,259 -2.77 657,129 662,260 0.78
2018-06-30 13F-HR LUK / Leucadia National Corp. 82,470 0 -100.00 1,874,543 0 -100.00
2018-06-30 13F-HR AET / Aetna, Inc. 183,499.97 15,493 15,493 0.00 2,618,317 2,842,965 8.58
2018-06-30 13F-HR AEUA / Anadarko Petroleum Corp., 7.50% Tangible Equity Units due 6/7/2018 60,623 0 -100.00 1,812,142 0 -100.00
2018-06-30 13F-HR MO / Altria Group, Inc. 56,790.00 11,125 10,995 -1.17 693,310 624,406 -9.94
2018-06-30 13F-HR AFL / AFLAC, Inc. 43,019.99 56,992 56,992 0.00 2,493,969 2,451,795 -1.69
2018-06-30 13F-HR AMP / Ameriprise Financial, Inc. 139,879.93 14,109 14,109 0.00 2,087,285 1,973,566 -5.45
2018-06-30 13F-HR AMGN / Amgen Inc. 184,589.98 24,187 24,067 -0.50 4,123,399 4,442,527 7.74
2018-06-30 13F-HR APC / Anadarko Petroleum Corp. 73,249.99 45,113 45,113 0.00 2,725,276 3,304,527 21.25
2018-06-30 13F-HR ABC / AmerisourceBergen Corp. 85,269.97 24,629 24,629 0.00 2,123,266 2,100,114 -1.09
2018-06-30 13F-HR ANDV / Andeavor Corp. 131,179.97 20,403 20,403 0.00 2,051,725 2,676,465 30.45
2018-06-30 13F-HR BBT / BB&T Corp. 50,439.98 50,495 50,495 0.00 2,627,759 2,546,967 -3.07
2018-06-30 13F-HR CPB / Campbell Soup Co. 40,539.99 49,088 49,088 0.00 2,126,001 1,990,027 -6.40
2018-06-30 13F-HR CA / CA, Inc. 35,649.99 68,776 68,776 0.00 2,331,506 2,451,864 5.16
2018-06-30 13F-HR ADP / Automatic Data Processing, Inc. 134,139.99 23,230 23,230 0.00 2,636,140 3,116,072 18.21
2018-06-30 13F-HR BCE / BCE Inc. 40,489.94 14,923 14,763 -1.07 642,285 597,753 -6.93
2018-06-30 13F-HR HRB / Block (H.&R.), Inc. 22,780.00 84,144 84,144 0.00 2,138,099 1,916,800 -10.35
2018-06-30 13F-HR CAT / Caterpillar, Inc. 135,669.96 19,734 19,734 0.00 2,908,396 2,677,311 -7.95
2018-06-30 13F-HR BHGE / Baker Hughes, a GE company 33,030.00 74,435 74,435 0.00 2,067,059 2,458,588 18.94
2018-06-30 13F-HR CAH / Cardinal Health, Inc. 48,830.00 35,752 35,752 0.00 2,240,935 1,745,770 -22.10
2018-06-30 13F-HR BA / Boeing Company (The) 335,509.43 1,148 1,113 -3.05 376,406 373,422 -0.79
2018-06-30 13F-HR AMAT / Applied Materials, Inc. 46,189.99 51,330 51,330 0.00 2,854,461 2,370,932 -16.94
2018-06-30 13F-HR T / AT & T, Inc. 32,109.99 16,776 62,731 273.93 598,064 2,014,292 236.80
2018-06-30 13F-HR CSCO / Cisco Systems, Inc. 43,029.97 20,992 20,423 -2.71 900,346 878,801 -2.39
2018-06-30 13F-HR CMA / Comerica, Inc. 90,919.99 25,883 25,883 0.00 2,482,956 2,353,282 -5.22
2018-06-30 13F-HR DHI / D.R. Horton, Inc. 41,000.00 45,193 45,193 0.00 1,981,261 1,852,913 -6.48
2018-06-30 13F-HR CSX / CSX Corp. 63,779.99 46,603 46,603 0.00 2,596,253 2,972,339 14.49
2018-06-30 13F-HR EMN / Eastman Chemical Company 99,959.99 23,870 23,870 0.00 2,520,194 2,386,045 -5.32
2018-06-30 13F-HR EQM / EQT Midstream Partners LP 51,589.90 4,620 4,616 -0.09 272,718 238,139 -12.68
2018-06-30 13F-HR GWW / Grainger (W.W.), Inc. 308,399.96 9,761 9,761 0.00 2,755,237 3,010,292 9.26
2018-06-30 13F-HR IFF / International Flavors & Fragrances, Inc 123,959.99 14,922 14,922 0.00 2,042,971 1,849,731 -9.46
2018-06-30 13F-HR KMI / Kinder Morgan, Inc. 17,669.95 16,717 17,779 6.35 251,758 314,154 24.78
2018-06-30 13F-HR PBCT / People's United Financial, Inc. 18,090.00 117,262 117,262 0.00 2,188,108 2,121,269 -3.05
2018-06-30 13F-HR MTB / M & T Bank Corp. 170,149.98 14,075 14,075 0.00 2,594,867 2,394,861 -7.71
2018-06-30 13F-HR INTU / Intuit Inc. 204,304.94 15,990 15,990 0.00 2,771,866 3,266,836 17.86
2018-06-30 13F-HR PNC / PNC Financial Services Group, Inc. (The) 135,099.98 20,035 20,035 0.00 3,030,093 2,706,728 -10.67
2018-06-30 13F-HR MAT / Mattel, Inc. 16,420.00 140,450 140,450 0.00 1,846,917 2,306,189 24.87
2018-06-30 13F-HR MAR / Marriott International, Inc. 126,600.00 19,805 19,805 0.00 2,693,083 2,507,313 -6.90
2018-06-30 13F-HR JCI / Johnson Controls International plc 33,449.99 66,331 66,331 0.00 2,337,504 2,218,771 -5.08
2018-06-30 13F-HR MOS / Mosaic Company 28,049.99 86,739 86,739 0.00 2,106,022 2,433,028 15.53
2018-06-30 13F-HR MRK / Merck & Co., Inc. 60,699.99 69,085 69,085 0.00 3,763,059 4,193,459 11.44
2018-06-30 13F-HR NRG / NRG Energy, Inc. 30,700.00 78,856 78,856 0.00 2,407,473 2,420,879 0.56
2018-06-30 13F-HR PEP / PepsiCo, Inc. 108,870.00 0 6,569 0 715,167
2018-06-30 13F-HR OKE / ONEOK, Inc. 69,829.92 10,771 10,483 -2.67 613,085 732,027 19.40
2018-06-30 13F-HR PKG / Packaging Corp. of America 111,789.99 17,975 17,975 0.00 2,025,782 2,009,425 -0.81
2018-06-30 13F-HR KSU / Kansas City Southern 105,959.97 20,734 20,734 0.00 2,277,629 2,196,974 -3.54
2018-06-30 13F-HR LYB / LyondellBasell Industries NV 109,849.94 7,144 6,944 -2.80 754,977 762,798 1.04
2018-06-30 13F-HR JWN / Nordstrom, Inc. 51,779.99 46,993 46,993 0.00 2,274,931 2,433,297 6.96
2018-06-30 13F-HR JPM / JPMorgan Chase & Co. 104,199.99 66,907 66,688 -0.33 7,357,762 6,948,889 -5.56
2018-06-30 13F-HR KLAC / KLA-Tencor Corp. 102,529.99 21,576 21,576 0.00 2,351,999 2,212,187 -5.94
2018-06-30 13F-HR JNJ / Johnson & Johnson 121,339.94 5,616 5,501 -2.05 719,690 667,491 -7.25
2018-06-30 13F-HR PNR / Pentair plc. 42,079.99 31,702 31,702 0.00 2,159,857 1,334,020 -38.24
2018-06-30 13F-HR PAYX / Paychex, Inc. 68,349.98 47,733 47,517 -0.45 2,939,875 3,247,786 10.47
2018-06-30 13F-HR JBHT / Hunt (J.B.) Transport Services, Inc. 121,549.99 19,204 19,204 0.00 2,249,748 2,334,246 3.76
2018-06-30 13F-HR SIX / Six Flags Entertainment Corp 70,049.98 11,852 11,544 -2.60 737,905 808,657 9.59
2018-06-30 13F-HR SRE / Sempra Energy 116,109.99 23,220 23,220 0.00 2,582,528 2,696,074 4.40
2018-06-30 13F-HR SWKS / Skyworks Solutions, Inc. 96,649.97 23,572 23,572 0.00 2,363,328 2,278,233 -3.60
2018-06-30 13F-HR RRC / Range Resources Corp. 16,729.99 129,571 129,571 0.00 1,883,962 2,167,722 15.06
2018-06-30 13F-HR SEE / Sealed Air Corp. 42,450.00 46,189 46,189 0.00 1,976,427 1,960,723 -0.79
2018-06-30 13F-HR RSG / Republic Services, Inc. 68,359.99 35,626 35,626 0.00 2,359,509 2,435,393 3.22
2018-06-30 13F-HR SO / Southern Co. (The) 46,310.00 57,842 57,842 0.00 2,583,223 2,678,663 3.69
2018-06-30 13F-HR SBUX / Starbucks Corp. 48,849.99 52,650 52,650 0.00 3,047,908 2,571,952 -15.62
2018-06-30 13F-HR TMO / Thermo Fisher Scientific, Inc. 207,139.94 15,035 15,035 0.00 3,104,126 3,114,349 0.33
2018-06-30 13F-HR TXN / Texas Instruments Inc. 110,249.99 39,109 38,865 -0.62 4,063,034 4,284,866 5.46
2018-06-30 13F-HR UNM / Unum Group 36,989.98 40,512 40,512 0.00 1,928,776 1,498,538 -22.31
2018-06-30 13F-HR UPS / United Parcel Service, Inc. 106,229.94 6,523 6,367 -2.39 682,697 676,366 -0.93
2018-06-30 13F-HR VLO / Valero Energy Corp. 110,829.99 36,890 36,650 -0.65 3,422,285 4,061,919 18.69
2018-06-30 13F-HR UNH / UnitedHealth Group Inc. 245,339.99 20,495 20,495 0.00 4,385,930 5,028,243 14.64
2018-06-30 13F-HR VIAB / Viacom, Inc. 30,160.00 79,069 79,069 0.00 2,455,883 2,384,721 -2.90
2018-06-30 13F-HR ZB.PRA / Zions Bancorporation 52,689.98 43,988 43,988 0.00 2,319,487 2,317,727 -0.08
2018-06-30 13F-HR VFC / V.F. Corp. 81,519.97 11,853 11,520 -2.81 878,544 939,110 6.89
2018-06-30 13F-HR WLTW / Willis Towers Watson Public Limited Company 151,599.97 15,744 15,744 0.00 2,396,079 2,386,790 -0.39
2018-06-30 13F-HR WFC / Wells Fargo & Co. 55,440.00 90,687 90,687 0.00 4,752,905 5,027,687 5.78
2018-06-30 13F-HR 74973WAB3 / Rti Intl Metals Inc Bond 1,011,019.96 1,059 952 -10.10 1,130,383 962,491 -14.85
2018-06-30 13F-HR 741503AX4 / The Priceline Group Inc. Bond 1,201,889.85 3,002 2,669 -11.09 3,752,289 3,207,844 -14.51
2018-06-30 13F-HR 31787AAM3 / Finisar Corporation Bond 0.5% Due 12/15/2033 Bond 991,216.56 2,232 1,981 -11.25 2,207,859 1,963,600 -11.06
2018-06-30 13F-HR 04010LAM5 / Ares Capital Corp. 4.375% Bond Due 1/15/2019 1,045,713.96 2,955 2,608 -11.74 3,051,073 2,727,222 -10.61
2018-06-30 13F-HR 267475AB7 / Dycom Industries, Inc. Bond 1,165,164.14 960 859 -10.52 1,219,350 1,000,876 -17.92
2018-06-30 13F-HR Deutsche Bank AG London / CONVERTIBLE BOND (25155MKM2) 927,817.60 3,103 2,879,018
2018-06-30 13F-HR Hercules Capital Inc / CONVERTIBLE BOND (427096AF9) 1,041,315.26 2,287 2,381,488
2018-06-30 13F-HR 458660AD9 / InterDigital, Inc. Bond 1,223,246.17 1,568 1,918,050
2018-06-30 13F-HR 55608BAA3 / Macquarie Infrastructure Company LLC 2.875% Bond Due 7/15/2019 1,017,383.99 2,758 2,448 -11.24 2,768,670 2,490,556 -10.05
2018-06-30 13F-HR 595112AY9 / Micron Technology, Inc. Bond 1,802,989.22 1,243 1,113 -10.46 2,258,066 2,006,727 -11.13
2018-06-30 13F-HR 452327AF6 / Illumina, Inc. Bond 1,179,199.73 2,555 2,233 -12.60 2,832,294 2,633,153 -7.03
2018-06-30 13F-HR 177376AD2 / Citrix Systems, Inc. 0.5% Convertible Bond due 2019-04-15 1,454,762.80 1,526 1,328 -12.98 2,019,479 1,931,925 -4.34
2018-06-30 13F-HR 41068XAB6 / Hannon Armstrong Sustainable Infrastructure Capital, Inc. Bond 4.125% 9/0 991,080.75 1,534 2,353 53.39 1,483,999 2,332,013 57.14
2018-06-30 13F-HR 87238QAB9 / TCP Capital Corp., 5.25% Bond due 2019-12-15 1,028,904.98 2,341 2,147 -8.29 2,487,585 2,209,059 -11.20
2018-06-30 13F-HR 85571BAH8 / Starwood Property Trust Inc Bond 1,024,861.92 1,298 1,166 -10.17 1,363,081 1,194,989 -12.33
2018-06-30 13F-HR Sempra Energy / CONVERTIBLE PREFERRED STOCK (816851406) 103,007.97 25,223 2,598,170
2018-06-30 13F-HR South Jersey Industries / CONVERTIBLE PREFERRED STOCK (838518116) 54,832.00 32,119 1,761,149
2018-06-30 13F-HR XLF / SPDR Financial Select Sector ETF 26,589.93 5,104 5,104 0.00 140,717 135,715 -3.55
2018-06-30 13F-HR CCI / Crown Castle International Corp. 1,073,450.78 3,503 3,505 0.06 383,963 3,762,445 879.90
2018-06-30 13F-HR RYAM / Rayonier Advanced Materials Inc. 121,972.47 1,595 1,562 -2.07 239,695 190,521 -20.52
2018-06-30 13F-HR HES / Hess Corp. 75,276.97 35,107 31,628 -9.91 2,096,519 2,380,860 13.56
2018-06-30 13F-HR WFC.PRL / Wells Fargo & Co., 7.50% Non-Cumul Perp Conv Cl A Preferred Stock, Series L 1,260,299.87 2,589 2,301 -11.12 3,330,101 2,899,950 -12.92
2018-06-30 13F-HR SRCLP / Stericycle, Inc. 5.25% Series A Preferred 49,073.97 31,508 27,645 -12.26 1,426,587 1,356,650 -4.90
2018-06-30 13F-HR SBDKP / Stanley Black & Decker, Inc. 104,661.00 28,079 31,224 11.20 3,227,961 3,267,935 1.24
2018-06-30 13F-HR SLQD / iShares 0-5 Year Investment Grade Corporate Bond ETF 49,629.93 10,225 9,936 -2.83 508,591 493,123 -3.04
2018-06-30 13F-HR MBB / iShares MBS ETF 104,179.88 4,614 4,514 -2.17 482,808 470,268 -2.60
2018-06-30 13F-HR ICVT / iShares Convertible Bond ETF 57,709.90 2,178 2,051 -5.83 122,664 118,363 -3.51
2018-06-30 13F-HR FLOT / iShares Floating Rate Bond ETF 51,000.00 12,229 11,865 -2.98 622,822 605,115 -2.84
2018-06-30 13F-HR CLYH / iShares Interest Rate Hedged 10 Year Credit Bond ETF 25,619.82 4,661 4,661 0.00 122,304 119,414 -2.36
2018-06-30 13F-HR GNMA / iShares Core GNMA Bond ETF 48,384.79 1,788 1,788 0.00 86,882 86,512 -0.43
2018-06-30 13F-HR HEWG / iShares Currency Hedged MSCI Germany ETF 27,759.99 14,870 16,041 7.87 407,438 445,298 9.29
2018-06-30 13F-HR EWQ / iShares MSCI France ETF 30,519.94 14,993 16,171 7.86 470,780 493,538 4.83
2018-06-30 13F-HR EWS / iShares MSCI Singapore ETF 23,989.98 17,392 18,761 7.87 463,844 450,076 -2.97
2018-06-30 13F-HR EWH / iShares MSCI Hong Kong ETF 24,209.99 18,590 20,053 7.87 470,512 485,483 3.18
2018-06-30 13F-HR VCSH / Vanguard Short-Term Corporate Bond Index Fund 78,099.50 1,407 1,407 0.00 110,351 109,886 -0.42
2018-06-30 13F-HR SPY / SPDR S&P 500 ETF Trust 271,279.68 1,839 1,895 3.05 483,932 514,075 6.23
2018-06-30 13F-HR C.PRJ / Citigroup, Inc., 7.125% Dep Shares Fixed/Float Non-Cumul Preferred Stock Ser J 27,729.99 10,746 10,507 -2.22 306,905 291,359 -5.07
2018-06-30 13F-HR WPC / W.P. Carey Inc. 66,349.95 10,575 10,290 -2.70 655,544 682,741 4.15
2018-06-30 13F-HR AME / Ametek, Inc. 72,159.99 31,840 31,840 0.00 2,418,884 2,297,574 -5.02
2018-06-30 13F-HR ED / Consolidated Edison, Inc. 77,979.99 29,879 29,879 0.00 2,328,769 2,329,964 0.05
2018-06-30 13F-HR CSJ / iShares 1-3 Year Credit Bond ETF 103,699.98 4,369 4,193 -4.03 453,502 434,814 -4.12
2018-06-30 13F-HR SYY / SYSCO Corp. 68,289.98 41,178 41,178 0.00 2,469,032 2,812,045 13.89
2018-06-30 13F-HR INDA / iShares MSCI India ETF 33,289.97 13,926 15,022 7.87 475,294 500,082 5.22
2018-06-30 13F-HR MRO / Marathon Oil Corp. 20,860.00 129,427 129,427 0.00 2,087,657 2,699,847 29.32
2018-06-30 13F-HR AAP / Advance Auto Parts, Inc. 135,699.96 20,394 20,394 0.00 2,417,708 2,767,465 14.47
2018-06-30 13F-HR HCN.PRI / Welltower Inc. 6.50% Series I Cumul Convertible Perpetual Preferred Stock 60,259.99 38,014 34,663 -8.82 2,121,333 2,088,792 -1.53
2018-06-30 13F-HR BGEPF / Bunge Ltd., 4.875% Cumulative Convertible Perpetual Preference 108,193.98 18,554 16,569 -10.70 2,017,432 1,792,666 -11.14
2018-06-30 13F-HR LADR / Ladder Capital Corp 15,619.99 45,053 43,838 -2.70 679,399 684,749 0.79
2018-06-30 13F-HR AOS / Smith (A.O.) Corp. 59,149.99 36,128 36,128 0.00 2,297,379 2,136,971 -6.98
2018-06-30 13F-HR CG / The Carlyle Group L.P. 23,519.93 13,322 12,994 -2.46 320,527 305,618 -4.65
2018-06-30 13F-HR NEE / NextEra Energy, Inc. 167,029.72 2,773 2,692 -2.92 452,914 449,644 -0.72
2018-06-30 13F-HR TIP / iShares TIPS Bond ETF 112,870.00 200 200 0.00 22,610 22,574 -0.16
2018-06-30 13F-HR BDC / Belden, Inc. 84,251.88 3,250 3,196 -1.66 303,148 269,269 -11.18
2018-06-30 13F-HR EPR / EPR Properties 34,923.14 9,434 9,198 -2.50 328,869 321,223 -2.32
2018-06-30 13F-HR PHM / PulteGroup, Inc. 28,749.99 65,690 65,690 0.00 1,937,198 1,888,587 -2.51
2018-06-30 13F-HR LQD / iShares iBoxx $ Investment Grade Corporate Bond ETF 114,569.54 1,959 1,891 -3.47 229,967 216,651 -5.79
2018-06-30 13F-HR 62952QAB6 / NXP Semiconductors N.V. Bond 1,201,810.95 2,554 2,264 -11.35 3,189,937 2,720,900 -14.70
2018-06-30 13F-HR HYGH / iShares Interest Rate Hedged High Yield Bond ETF 90,548.99 643 643 0.00 58,236 58,223 -0.02
2018-06-30 13F-HR LEN / Lennar Corp. 52,499.99 35,083 35,083 0.00 2,067,792 1,841,857 -10.93
2018-06-30 13F-HR FL / Foot Locker, Inc. 52,649.99 48,365 48,365 0.00 2,202,542 2,546,417 15.61
2018-06-30 13F-HR MSFT / Microsoft Corp. 98,610.00 121,023 112,366 -7.15 11,045,769 11,080,411 0.31
2018-06-30 13F-HR WU / Western Union Co. (The) 20,330.00 108,047 108,047 0.00 2,077,743 2,196,595 5.72
2018-06-30 13F-HR CCI / Crown Castle International Corp. 107,819.79 3,505 3,396 -3.11 3,762,445 366,156 -90.27
2018-06-30 13F-HR RIO / Rio Tinto plc 55,479.92 12,373 12,077 -2.39 637,580 670,031 5.09
2018-06-30 13F-HR CFG / Citizens Financial Group, Inc. 38,899.99 54,546 54,546 0.00 2,289,841 2,121,839 -7.34
2018-06-30 13F-HR 84860WAA0 / Spirit Realty Capital, Inc. Bond 1,002,237.48 2,088 1,857 -11.06 2,125,693 1,861,155 -12.44
2018-06-30 13F-HR CNP / CenterPoint Energy, Inc. 27,709.99 82,818 82,818 0.00 2,269,213 2,294,886 1.13
2018-06-30 13F-HR NSS / Nustar Logistics LP 25,359.99 12,301 12,017 -2.31 310,600 304,751 -1.88
2018-06-30 13F-HR DIS / The Walt Disney Co. 104,810.00 36,836 36,836 0.00 3,699,807 3,860,781 4.35
2018-06-30 13F-HR HYG / iShares iBoxx $ High Yield Corporate Bond ETF 85,079.79 3,510 3,409 -2.88 300,596 290,037 -3.51
2018-06-30 13F-HR FAST / Fastenal Co. 48,130.00 42,354 42,354 0.00 2,312,104 2,038,498 -11.83
2018-06-30 13F-HR CHD / Church & Dwight Co., Inc. 53,160.00 45,738 45,738 0.00 2,303,365 2,431,432 5.56
2018-06-30 13F-HR GS / Goldman Sachs Group, Inc. (The) 220,569.94 12,933 12,933 0.00 3,257,305 2,852,631 -12.42
2018-06-30 13F-HR EWT / iShares MSCI Taiwan ETF 36,000.00 12,094 13,046 7.87 463,683 469,656 1.29
2018-06-30 13F-HR XL / XL Group Ltd. 55,950.00 66,118 66,118 0.00 3,653,680 3,699,302 1.25
2018-06-30 13F-HR BK / Bank of New York Mellon Corp. (The) 53,929.99 50,477 50,477 0.00 2,601,079 2,722,224 4.66
2018-06-30 13F-HR TGT / Target Corp. 76,119.98 37,424 37,424 0.00 2,598,348 2,848,714 9.64
2018-06-30 13F-HR SHY / iShares 1-3 Year Treasury Bond ETF 83,369.34 1,324 1,324 0.00 110,633 110,381 -0.23
2018-06-30 13F-HR PRU / Prudential Financial, Inc. 93,509.99 22,967 22,967 0.00 2,378,232 2,147,644 -9.70
2018-06-30 13F-HR TJX / TJX Companies, Inc. (The) 95,180.00 35,784 35,784 0.00 2,918,543 3,405,921 16.70
2018-06-30 13F-HR MPC / Marathon Petroleum Corp. 70,159.98 36,879 36,879 0.00 2,696,223 2,587,430 -4.04
2018-06-30 13F-HR 87265KAB8 / TPG Specialty Lending, Inc. Bond 1,019,899.78 2,577 2,325 -9.78 2,706,983 2,371,267 -12.40
2018-06-30 13F-HR PFE / Pfizer, Inc. 36,279.95 19,364 18,864 -2.58 687,228 684,385 -0.41
2018-06-30 13F-HR XRAY / DENTSPLY SIRONA Inc. 43,769.99 35,650 35,650 0.00 1,793,551 1,560,400 -13.00
2018-06-30 13F-HR BDXA / Becton Dickinson & Co. 6.125% Preferred Series A 61,887.00 81,653 73,149 -10.41 4,755,307 4,526,972 -4.80
2018-06-30 13F-HR HUM / Humana, Inc. 297,629.99 9,824 9,824 0.00 2,640,985 2,923,917 10.71
2018-06-30 13F-HR A / Agilent Technologies, Inc. 61,839.98 33,784 33,784 0.00 2,260,149 2,089,202 -7.56
2018-06-30 13F-HR XLNX / Xilinx, Inc. 65,259.97 31,711 31,711 0.00 2,290,802 2,069,459 -9.66
2018-06-30 13F-HR PM / Philip Morris International, Inc. 80,739.98 38,282 38,282 0.00 3,805,230 3,090,888 -18.77
2018-06-30 13F-HR KSS / Kohl's Corp. 72,899.99 50,253 49,973 -0.56 3,292,074 3,643,031 10.66
2018-06-30 13F-HR HAL / Halliburton Co. 45,060.00 51,353 51,353 0.00 2,410,509 2,313,966 -4.01
2018-06-30 13F-HR ARE.PRD / Alexandria Real Estate Equities, Inc. 7.00% Series D Preferred 35,574.99 58,553 51,698 -11.71 2,125,356 1,839,156 -13.47
2018-06-30 13F-HR NORW / Global X Norway 30 ETF 14,309.99 31,652 34,127 7.82 435,531 488,357 12.13
2018-06-30 13F-HR MS.PRF / Morgan Stanley, 6.875% Dep Shares Fixed/Floating Non-Cumul Preferred Stock Ser F 27,379.96 11,362 11,088 -2.41 318,476 303,589 -4.67
2018-06-30 13F-HR C / Citigroup, Inc. 66,919.99 58,704 58,704 0.00 3,962,520 3,928,471 -0.86
2018-06-30 13F-HR 749685AT0 / RPM International, Inc. 2.25% Bond Due 12/15/2020 1,208,804.94 1,778 1,579 -11.19 2,024,910 1,908,703 -5.74
2018-06-30 13F-HR RF / Regions Financial Corp. 17,779.99 134,765 134,765 0.00 2,503,933 2,396,121 -4.31
2018-06-30 13F-HR WMB / Williams Companies, Inc. (The) 27,109.99 75,477 75,477 0.00 1,876,358 2,046,181 9.05
2018-06-30 13F-HR Safeway PDC, LLC CVR / WARRANTS (786CVR308) 83,481 0 -100.00 4,090 0
2018-06-30 13F-HR ARCP / 2,309 0 -100.00 2,334,029 0 -100.00
2018-06-30 13F-HR TWX / Time Warner, Inc. 32,279 0 -100.00 3,052,947 0 -100.00
2018-06-30 13F-HR 47102XAH8 / Janus Capital Group, Inc. Bond 783 0 -100.00 1,169,995 0 -100.00
2018-06-30 13F-HR 512807AL2 / Lam Research Corp. Bond 2,527 0 -100.00 8,571,595 0 -100.00
2018-06-30 13F-HR OHI / Omega HealthCare Investors, Inc. 18,977 0 -100.00 513,138 0 -100.00
2018-06-30 13F-HR ANTX / Anthem, Inc., 5.25% Equity Units due 5/1/2018 84,753 0 -100.00 4,555,897 0 -100.00
2018-06-30 13F-HR AMLP / Alerian ETF 2,135 0 -100.00 20,004 0 -100.00
2018-06-30 13F-HR Guggenheim Enhanced Short Duration Bond ETF / EXCHANGE TRADED FUND (73935B797) 2,235 0 -100.00 112,264 0