Laffer Investments

Laffer Investments as of March 31, 2011

Portfolio Holdings for Laffer Investments

Laffer Investments holds 256 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Spdr S&p 500 Etf (SPY) 8.9 $30M 222k 132.59
Texas Instruments Incorporated (TXN) 1.9 $6.2M 178k 34.56
Halliburton Company (HAL) 1.8 $5.8M 117k 49.84
iShares MSCI South Korea Index Fund (EWY) 1.5 $5.1M 79k 64.35
iShares MSCI Canada Index (EWC) 1.5 $5.1M 152k 33.61
Costco Wholesale Corporation (COST) 1.5 $5.0M 68k 73.32
iShares MSCI Sweden Index (EWD) 1.4 $4.7M 145k 32.79
Corning Incorporated (GLW) 1.4 $4.7M 228k 20.63
iShares MSCI Switzerland Index Fund (EWL) 1.4 $4.7M 184k 25.29
iShares MSCI Poland Investable ETF (EPOL) 1.4 $4.6M 128k 35.80
iShares MSCI Singapore Index Fund 1.3 $4.4M 322k 13.67
Ishares Tr zealand invst (ENZL) 1.3 $4.4M 147k 29.81
iShares MSCI Hong Kong Index Fund (EWH) 1.3 $4.3M 229k 18.93
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 1.3 $4.2M 40k 104.44
E M C Corp Mass note 1.750%12/0 1.2 $3.9M 2.3k 1669.17
iShares IBoxx $ Invest Grade Corp Bd (LQD) 1.1 $3.7M 35k 108.20
Baker Hughes Incorporated 1.1 $3.7M 50k 73.43
iShares Barclays Inter Crd Bd Fund ETF) (IGIB) 1.1 $3.5M 34k 105.29
iShares Barclays TIPS Bond Fund (TIP) 1.0 $3.4M 31k 109.16
Rayonier Trs Hldgs Inc note 3.750%10/1 1.0 $3.4M 2.7k 1238.38
Altera Corporation 1.0 $3.4M 76k 44.02
Transocean Inc note 1.500%12/1 1.0 $3.3M 3.3k 1001.36
Dominion Res Inc Va New debt 1.0 $3.3M 2.6k 1285.66
Allergan 1.0 $3.3M 46k 71.02
Morgan Stanley (MS) 1.0 $3.2M 118k 27.32
Starwood Hotels & Resorts Worldwide 0.9 $3.1M 53k 58.12
Jns 3.25% 7/15/2014 note 0.9 $3.1M 2.5k 1218.72
Te Connectivity Ltd for 0.9 $3.1M 88k 34.82
Intel Corp sdcv 0.9 $3.0M 2.8k 1050.52
Archer Daniels Midland Co note 0.875% 2/1 0.9 $2.9M 2.6k 1116.24
Affiliated Managers Group note 3.950% 8/1 0.9 $2.9M 2.4k 1188.89
Molson Coors Brewing Co note 2.500% 7/3 0.9 $2.9M 2.5k 1169.63
National Retail Properties I note 5.125% 6/1 0.8 $2.8M 2.4k 1194.98
Symantec Corp note 1.000% 6/1 0.8 $2.8M 2.3k 1214.84
Medtronic Inc note 1.625% 4/1 0.8 $2.8M 2.7k 1044.66
Eaton Corporation 0.8 $2.8M 50k 55.44
Limited Brands 0.8 $2.8M 84k 32.88
U.S. Bancorp (USB) 0.8 $2.7M 101k 26.43
SLM Corporation (SLM) 0.8 $2.7M 173k 15.30
Beckman Coulter Inc note 2.500%12/1 0.8 $2.6M 2.1k 1207.22
Newmont Mining Corp note 3.000% 2/1 0.8 $2.6M 2.1k 1244.79
Newell Financial Trust I Cvt P convert 0.8 $2.6M 54k 47.90
Boston Pptys Ltd Partnership note 3.750% 5/1 0.8 $2.6M 2.2k 1173.96
Nabors Inds Inc note 0.940% 5/1 0.8 $2.5M 2.5k 1004.62
Ingersoll-rand Co Ltd-cl A 0.8 $2.5M 52k 48.31
Nasdaq Omx Group Inc note 2.500% 8/1 0.8 $2.5M 2.5k 1004.52
Eastman Chemical Company (EMN) 0.7 $2.5M 25k 99.32
J.M. Smucker Company (SJM) 0.7 $2.4M 34k 71.39
Amgen Inc note 0.375% 2/0 0.7 $2.4M 2.4k 998.15
CIGNA Corporation 0.7 $2.4M 54k 44.28
Allegheny Technologies Inc note 4.250% 6/0 0.7 $2.3M 1.3k 1782.73
Motorola Solutions (MSI) 0.7 $2.3M 53k 44.69
Bunge Limited 4.875% Cum. Cv. pfd cv 0.7 $2.4M 22k 104.83
Wyndham Worldwide Corporation 0.7 $2.3M 73k 31.81
Apache Corp. 6% Mandatory Conv pfd cv 0.7 $2.3M 33k 70.86
Textron (TXT) 0.7 $2.3M 84k 27.39
Manitowoc Company 0.7 $2.2M 102k 21.88
Xilinx 0.7 $2.2M 68k 32.80
Amphenol Corporation (APH) 0.7 $2.2M 41k 54.39
Marriott International (MAR) 0.7 $2.2M 62k 35.58
McCormick & Company, Incorporated (MKC) 0.7 $2.2M 46k 47.83
Ppl Corp unit 99/99/9999 0.7 $2.2M 41k 53.24
Hologic Inc frnt 2.000%12/1 0.7 $2.2M 1.8k 1228.30
Rowan Companies 0.6 $2.1M 48k 44.18
Charles Riv Labs Intl Inc note 2.250% 6/1 0.6 $2.1M 2.0k 1065.13
Wells Fargo & Company Non-cum Perpet cnv (WFC.PL) 0.6 $2.1M 2.0k 1035.08
Abercrombie & Fitch (ANF) 0.6 $2.1M 36k 58.70
D Xl Company Switzerland Equity conv pref. 0.6 $2.1M 62k 33.69
L-3 Communications Corp debt 3.000% 8/0 0.6 $2.0M 2.0k 1015.03
Clorox Company (CLX) 0.6 $2.0M 29k 70.07
Microchip Technology (MCHP) 0.6 $2.0M 53k 38.01
T. Rowe Price (TROW) 0.6 $2.0M 30k 66.42
CF Industries Holdings (CF) 0.6 $2.0M 15k 136.79
United States Steel Corporation 0.6 $2.0M 37k 53.94
Harris Corporation 0.6 $2.0M 40k 49.60
Mylan 0.6 $1.9M 86k 22.66
Sherwin-Williams Company (SHW) 0.6 $1.9M 23k 83.99
Vornado Rlty L P debt 0.6 $1.9M 1.7k 1155.34
Metlife Inc 5% 10/0/14 Conv Pr cv prf 0.6 $1.9M 23k 84.85
Legg Mason 0.6 $1.9M 53k 36.09
Flowserve Corporation (FLS) 0.6 $1.9M 15k 128.80
Fidelity National Information Services (FIS) 0.6 $1.8M 56k 32.69
Parker-Hannifin Corporation (PH) 0.6 $1.8M 20k 94.68
Capital One Financial (COF) 0.5 $1.8M 35k 51.96
Rockwell Automation (ROK) 0.5 $1.8M 19k 94.65
Hologic Inc frnt 2.000%12/1 0.5 $1.7M 1.7k 978.66
Stanley Black & Decker Inc unit 99/99/9999 0.5 $1.7M 14k 119.62
Best Buy Inc sdcv 2.250% 1/1 0.5 $1.6M 1.6k 1037.65
Great Plains Energy Inc unit 06/15/2042 0.5 $1.6M 25k 64.55
Nextera Energy Cvp convert 0.5 $1.6M 32k 51.61
Archer Daniels Midland Co unit 99/99/9999 0.5 $1.6M 35k 45.15
Windstream Corporation 0.5 $1.6M 121k 12.88
Rockwell Collins 0.5 $1.5M 24k 64.83
Harman International Industries 0.5 $1.5M 32k 46.82
Invitrogen Corp note 3.250% 6/1 0.5 $1.5M 1.3k 1135.44
Hartford Finl Svcs Group Inc dep conv p 0.4 $1.5M 56k 26.05
Cooper Industries 0.4 $1.5M 22k 64.90
TECO Energy 0.4 $1.5M 78k 18.76
Health Care Reit Inc Cvt cv bnd 0.4 $1.5M 1.3k 1147.56
Discover Financial Services 0.4 $1.4M 60k 24.12
DENTSPLY International 0.4 $1.4M 39k 36.99
Pall Corporation 0.4 $1.4M 25k 57.61
Coca-cola Enterprises 0.4 $1.4M 52k 27.30
Prologis debt 0.4 $1.4M 1.4k 1017.36
Lowe's Companies (LOW) 0.4 $1.4M 51k 26.43
ITT Corporation 0.4 $1.4M 23k 60.05
CenturyLink 0.4 $1.3M 32k 41.55
PerkinElmer (RVTY) 0.4 $1.3M 50k 26.27
Health Care Reit Pfd I 6.5% 0.4 $1.3M 26k 52.06
Total System Services 0.4 $1.3M 71k 18.02
Ca 0.4 $1.3M 52k 24.18
Analog Devices (ADI) 0.4 $1.2M 32k 39.38
Boston Properties (BXP) 0.4 $1.2M 13k 94.85
iShares iBoxx $ High Yid Corp Bond (HYG) 0.4 $1.2M 13k 91.96
KLA-Tencor Corporation (KLAC) 0.4 $1.2M 25k 47.32
Wisconsin Energy Corporation 0.3 $1.2M 38k 30.50
Anglogold Ashanti Holdings Fin pfd cv 0.3 $1.2M 22k 53.84
Integrys Energy 0.3 $1.1M 23k 50.51
Motorola Mobility Holdings 0.3 $1.1M 46k 24.40
Comerica Incorporated (CMA) 0.3 $1.1M 30k 36.72
Molex Incorporated 0.3 $1.0M 42k 25.12
Linear Technology Corporation 0.3 $1.0M 31k 33.63
National Semiconductor Corporation 0.3 $1.1M 75k 14.34
Frontier Communications 0.3 $947k 115k 8.22
C.R. Bard 0.3 $944k 9.5k 99.36
SCANA Corporation 0.2 $815k 21k 39.37
RadioShack Corporation 0.2 $748k 50k 15.01
NiSource (NI) 0.2 $560k 29k 19.18
Huntington Bancshares Incorporated (HBAN) 0.2 $525k 79k 6.64
Textron Inc note 4.500% 5/0 0.1 $439k 201.00 2182.50
Zions Bancorporation (ZION) 0.1 $429k 19k 23.06
Vale Cap Ii gtd cv 6.75%12 0.1 $365k 3.9k 92.75
Hudson City Ban 0.1 $240k 25k 9.68
3m Co cv bnd 0.1 $195k 206.00 944.38
Keycorp New pfd 7.75% sr a 0.0 $127k 1.1k 112.40
Fifth Third Bancorp cnv pfd dep1/250 0.0 $65k 435.00 148.22
Aviat Networks 0.0 $51k 9.8k 5.17
Bank Of America Corporation preferred (BAC.PL) 0.0 $81k 80.00 1010.99
Huntington Bancshares Inc pfd conv ser a 0.0 $57k 52.00 1092.57
Bk Of Amer Prfd equs 0.0 $51k 2.0k 25.49
Principal Financial preferred 0.0 $51k 2.1k 24.17
Exxon Mobil Corporation (XOM) 0.0 $17k 200.00 84.13
Stanley Black & Decker (SWK) 0.0 $18k 235.00 76.60
SLM Corporation (SLMPRA) 0.0 $31k 725.00 43.35
Metlife Inc. 6.5% Pfd Non-cumu p 0.0 $37k 1.5k 24.86
Consolidated Edison Ny Pfd $5 0.0 $39k 425.00 92.80
Goldman Sachs Grp 0.0 $37k 1.5k 24.91
Dupont Pfd B p (CTA.PB) 0.0 $46k 500.00 91.75
Us Bancorp Float Rate Pfd 3.5%min (USB.PH) 0.0 $36k 1.6k 22.67
Metlife Inc Pfd A Flt preferr (MET.PA) 0.0 $29k 1.2k 24.01
Morgan Stanley Pfd A preferr (MS.PA) 0.0 $46k 2.2k 20.69
Bank Of America Corp equs 0.0 $45k 2.0k 22.39
Bk America Pfd equs 0.0 $34k 1.5k 22.68
Ing Groep Nv equs 0.0 $48k 2.2k 21.59
Alabama Pwr Co preferred 0.0 $21k 800.00 25.69
Alabama Pwr Co preferred 0.0 $39k 1.6k 25.00
Alabama Pwr Co preferred 0.0 $26k 1.0k 26.25
Hsbc Usa Inc New preferred 0.0 $26k 1.2k 21.85
Hsbc Usa Inc New preferred 0.0 $35k 1.4k 25.00
Interstate Pwr & Lt preferred 0.0 $34k 1.2k 28.22
Mississippi Power Co preferred 0.0 $43k 1.8k 23.82
Pacific Gas & Elec preferred 0.0 $38k 1.4k 26.78
Southern Calif Ediso preferred 0.0 $29k 1.6k 18.00
Suntrust Bks Inc preferred 0.0 $18k 800.00 22.25
Diamond Offshore Drilling 0.0 $14k 175.00 77.70
Time Warner 0.0 $13k 360.00 35.70
iShares FTSE/Xinhua China 25 Index (FXI) 0.0 $2.7k 60.00 44.91
iShares MSCI Emerging Markets Indx (EEM) 0.0 $2.4k 50.00 48.67
Joy Global 0.0 $14k 140.00 98.81
Cabot Oil & Gas Corporation (CTRA) 0.0 $16k 305.00 52.97
Caterpillar (CAT) 0.0 $15k 135.00 111.35
Coca-Cola Company (KO) 0.0 $13k 200.00 66.34
Devon Energy Corporation (DVN) 0.0 $14k 150.00 91.77
McDonald's Corporation (MCD) 0.0 $14k 180.00 76.09
Range Resources (RRC) 0.0 $16k 265.00 58.46
Home Depot (HD) 0.0 $14k 365.00 37.06
Via 0.0 $14k 305.00 46.52
Walt Disney Company (DIS) 0.0 $14k 315.00 43.09
CBS Corporation 0.0 $14k 550.00 25.04
General Electric Company 0.0 $6.0k 300.00 20.05
Apache Corporation 0.0 $14k 110.00 130.92
Avon Products 0.0 $13k 495.00 27.04
Carnival Corporation (CCL) 0.0 $13k 335.00 38.36
Coach 0.0 $13k 250.00 52.04
Cummins (CMI) 0.0 $15k 135.00 109.62
FMC Technologies 0.0 $6.8k 145.00 47.24
Family Dollar Stores 0.0 $14k 275.00 51.32
International Game Technology 0.0 $13k 815.00 16.23
J.C. Penney Company 0.0 $14k 400.00 35.91
Kohl's Corporation (KSS) 0.0 $14k 255.00 53.04
Leggett & Platt (LEG) 0.0 $15k 590.00 24.50
Newmont Mining Corporation (NEM) 0.0 $13k 245.00 54.58
Noble Energy 0.0 $15k 150.00 96.65
Nucor Corporation (NUE) 0.0 $13k 290.00 46.02
McGraw-Hill Companies 0.0 $14k 355.00 39.40
V.F. Corporation (VFC) 0.0 $14k 145.00 98.53
Nordstrom 0.0 $14k 305.00 44.88
Ross Stores (ROST) 0.0 $14k 190.00 71.12
Johnson Controls 0.0 $14k 335.00 41.57
Tiffany & Co. 0.0 $14k 225.00 61.44
Darden Restaurants (DRI) 0.0 $14k 290.00 49.13
Emerson Electric (EMR) 0.0 $13k 230.00 58.43
Whirlpool Corporation (WHR) 0.0 $15k 170.00 85.36
Masco Corporation (MAS) 0.0 $14k 1.0k 13.92
National-Oilwell Var 0.0 $14k 175.00 79.27
Polo Ralph Lauren Corporation 0.0 $14k 110.00 123.65
Newfield Exploration 0.0 $14k 190.00 76.01
Helmerich & Payne (HP) 0.0 $14k 210.00 68.69
Yum! Brands (YUM) 0.0 $14k 275.00 51.38
Goodyear Tire & Rubber Company (GT) 0.0 $15k 985.00 14.98
Anadarko Petroleum Corporation 0.0 $14k 165.00 81.92
Deere & Company (DE) 0.0 $15k 155.00 96.89
Macy's (M) 0.0 $14k 580.00 24.26
News Corporation 0.0 $14k 780.00 17.58
Nike (NKE) 0.0 $12k 155.00 75.70
Schlumberger (SLB) 0.0 $14k 145.00 93.26
Target Corporation (TGT) 0.0 $13k 260.00 50.01
Gap (GAP) 0.0 $14k 610.00 22.66
Staples 0.0 $13k 645.00 19.42
TJX Companies (TJX) 0.0 $14k 275.00 49.73
Starbucks Corporation (SBUX) 0.0 $15k 415.00 36.95
EOG Resources (EOG) 0.0 $15k 125.00 118.51
Washington Post Company 0.0 $13k 30.00 437.56
Gannett 0.0 $13k 835.00 15.23
Nicor 0.0 $14k 260.00 53.70
FLIR Systems 0.0 $15k 425.00 34.61
Discovery Communications 0.0 $13k 320.00 39.90
Big Lots (BIGGQ) 0.0 $15k 335.00 43.43
Chesapeake Energy Corporation 0.0 $13k 395.00 33.52
Paccar (PCAR) 0.0 $14k 275.00 52.36
Pioneer Natural Resources 0.0 $14k 135.00 101.92
Roper Industries (ROP) 0.0 $14k 160.00 86.46
Southwestern Energy Company 0.0 $16k 360.00 42.97
Sears Holdings Corporation 0.0 $14k 165.00 82.65
Wynn Resorts (WYNN) 0.0 $13k 105.00 127.16
Estee Lauder Companies (EL) 0.0 $14k 145.00 96.36
Cliffs Natural Resources 0.0 $14k 140.00 98.28
Noble Corporation Com Stk 0.0 $14k 305.00 45.62
AK Steel Holding Corporation 0.0 $14k 885.00 15.78
Denbury Resources 0.0 $14k 560.00 24.40
Urban Outfitters (URBN) 0.0 $11k 355.00 29.83
Allegheny Technologies Incorporated (ATI) 0.0 $14k 210.00 67.72
Cameron International Corporation 0.0 $13k 230.00 57.10
EQT Corporation (EQT) 0.0 $14k 280.00 49.90
Nabors Industries 0.0 $15k 490.00 30.38
Scripps Networks Interactive 0.0 $13k 255.00 50.09
iShares MSCI Brazil Index (EWZ) 0.0 $2.3k 30.00 77.51
Oneok (OKE) 0.0 $14k 210.00 66.88
iShares MSCI Taiwan Index 0.0 $2.8k 190.00 14.86
QEP Resources 0.0 $14k 350.00 40.54
Market Vectors Vietnam ETF. 0.0 $2.4k 100.00 23.73
iShares MSCI South Africa Index (EZA) 0.0 $2.9k 40.00 72.93
Global X InterBolsa FTSE Colombia20 0.0 $2.4k 60.00 40.50
iShares Lehman 1-3 Year Treas.Bond (SHY) 0.0 $4.2k 50.00 83.68
MSCI Emerging Markets East. Eur Ind 0.0 $3.2k 90.00 35.83
United Dominion Realty Tr In note 4.000%12/1 0.0 $4.1k 4.00 1024.81