LAFFER INVESTMENTS Information

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

Report Date: 12/31/2013

Position Statistics

Total Positions 250
New Positions 101
Increased Positions 148
Decreased Positions 96
Positions with Activity 244
Sold Out Positions 60
Total Mkt Value (in $ millions) 559

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

Sector Weighting

Basic Materials 4.02%
Capital Goods 1.46%
Conglomerates 0%
Consumer Cyclical 3%
Consumer/Non-Cyclical 11.46%
Energy 11.7%
Financial 22.83%
Healthcare 3.36%
Services 21.45%
Technology 11.47%
Transportation 0.24%
Utilities 8.26%

96 DECREASED Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
NEXTERA ENERGY INC COM 9,899 -1,441 (12.71) 102,480
MICROSOFT CORP COM 9,667 -1,851 (16.07) 241,627
JOHNSON & JOHNSON COM 9,296 -1,568 (14.43) 93,940
ROYAL DUTCH SHELL PLC SPONS ADR A 9,244 -10,599 (53.41) 122,119
ONEOK INC NEW COM 8,980 -866 (8.79) 147,133
GENERAL MLS INC COM 8,803 -746 (7.81) 168,996
GENERAL ELECTRIC CO COM 8,796 -1,667 (15.94) 331,174
ISHARES MSCI SZ CAP ETF 5,886 -232 (3.79) 170,726
ISHARES MSCI SWEDEN ETF 5,527 -150 (2.64) 153,867
WISDOMTREE TR JAPN HEDGE EQT 4,990 -952 (16.02) 107,044
WELLS FARGO & CO NEW PERP PFD CNV A 3,751 -370 (8.98) 3,171
ALLERGAN INC COM 3,612 -2,588 (41.74) 26,973
UNITED TECHNOLOGIES CORP CORP UNIT 2,934 -122 (4) 44,141
OMNICOM GROUP INC COM 2,570 -1,393 (35.15) 36,117
XILINX INC COM 2,539 -1,006 (28.39) 48,650
MICROCHIP TECHNOLOGY INC COM 2,473 -12 (0.47) 52,251
CLOROX CO DEL COM 2,317 -3,524 (60.34) 25,502
CIGNA CORPORATION COM 2,301 -1,769 (43.47) 30,414
ALTERA CORP COM 2,084 -548 (20.83) 60,490
WEYERHAEUSER CO PREF CONV SER A 1,903 -57 (2.93) 36,631