LAFFER INVESTMENTS Information

103 MURPHY COURT, NASHVILLE, Tennessee, 37203, (615) 460-0100

Report Date: 09/30/2014

Position Statistics

Total Positions 225
New Positions 44
Increased Positions 101
Decreased Positions 27
Positions with Activity 128
Sold Out Positions 7
Total Mkt Value (in $ millions) 626

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 4.43%
Capital Goods 1.33%
Conglomerates
Consumer Cyclical 3.41%
Consumer/Non-Cyclical 7.2%
Energy 8.05%
Financial 21.8%
Healthcare 5.09%
Services 24.52%
Technology 12.64%
Transportation 2.25%
Utilities 8.66%

27 DECREASED Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
WISDOMTREE TR JAPN HEDGE EQT 7,072 -22 (0.31) 122,373
ISHARES MSCI HONG KG ETF 6,537 -16 (0.25) 268,921
SPDR S&P 500 ETF TR TR UNIT 6,353 -17 (0.27) 30,064
ISHARES TR HDG MSCI GERMN 6,280 -15 (0.23) 227,540
ISHARES MSCI SINGAP ETF 5,571 -13 (0.23) 408,730
ISHARES MSCI CDA ETF 5,396 -14 (0.27) 183,990
ISHARES NW ZEALND CP ETF 5,379 -13 (0.23) 133,376
WELLS FARGO & CO NEW PERP PFD CNV A 3,636 -62 (1.68) 2,983
NEXTERA ENERGY INC CORP UNIT 2,832 -151 (5.08) 41,805
DOMINION RES INC VA NEW CRP UNIT 2013 B 2,725 -247 (8.32) 47,790
NEXTERA ENERGY INC CORP UNIT 2,692 -260 (8.81) 41,520
PEOPLES UNITED FINANCIAL INC COM 2,058 -11 (0.55) 135,770
AMERICAN TOWER CORP NEW PFD CONV SER A 1,891 -53 (2.72) 18,255
STANLEY BLACK & DECKER INC CORP UNIT 1,750 -62 (3.43) 12,593
BUNGE LIMITED PREF PERP CONV 1,638 -79 (4.58) 14,950
DOMINION RES INC VA NEW CRP UNIT 2013 A 1,415 -9 (0.62) 24,800
GENESEE & WYO INC UNIT 100115 1,159 -25 (2.08) 9,905
ONE GAS INC COM -1 (90.91) 2
ISHARES MSCI SZ CAP ETF (84.62) 2
AK STL HLDG CORP COM -2 Sold Out 0