LAFFER INVESTMENTS Information

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

Report Date: 03/31/2014

Position Statistics

Total Positions 196
New Positions 6
Increased Positions 59
Decreased Positions 31
Positions with Activity 90
Sold Out Positions 7
Total Mkt Value (in $ millions) 591

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

Sector Weighting

Basic Materials 4.11%
Capital Goods 1.37%
Conglomerates
Consumer Cyclical 1.72%
Consumer/Non-Cyclical 10.04%
Energy 10.5%
Financial 22.76%
Healthcare 4.97%
Services 23.32%
Technology 11.94%
Transportation 0.25%
Utilities 8.5%

196 Positions as of 03/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
PHILIP MORRIS INTL INC COM 8,748 589 7.21 101,690
GENERAL ELECTRIC CO COM 8,738 21 .25 331,985
AMERICAN RLTY CAP PPTYS INC COM 8,725 459 5.55 701,391
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 8,307 4,204 102.43 253,973
GENESIS ENERGY L P UNIT LTD PARTN 8,181 15 .19 150,229
ISHARES NW ZEALND CP ETF 6,026 -3 (0.04) 142,487
SPDR S&P 500 ETF TR TR UNIT 6,021 -2 (0.04) 30,546
ISHARES MSCI CDA ETF 5,894 -2 (0.03) 181,507
ISHARES MSCI SZ CAP ETF 5,830 -3 (0.04) 170,652
ISHARES MSCI HONG KG ETF 5,596 -1 (0.02) 266,217
ISHARES MSCI SWEDEN ETF 5,360 -3 (0.05) 153,795
WISDOMTREE TR JAPN HEDGE EQT 5,335 -1 (0.02) 107,026
ISHARES MSCI SINGAP ETF 5,233 -1 (0.02) 381,996
ALLERGAN INC COM 4,456 New 26,973
WELLS FARGO & CO NEW PERP PFD CNV A 3,816 5 .13 3,175
BRISTOL MYERS SQUIBB CO COM 3,622 New 75,585
APPLIED MATLS INC COM 3,512 New 150,942
CORNING INC COM 3,504 New 159,116
LORILLARD INC COM 3,321 New 52,705
BROADCOM CORP CL A 3,300 New 86,482