The Securities and Exchange Commission has not necessarily
reviewed the information in this filing and has not determined
if it is accurate and complete.
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 | ||||
| VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY | |||||
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COM | 002824100 | 904,017 | 8,700 | SH | SOLE | 0 | 0 | 8,700 | ||
| AbbVie Inc. | COM | 00287y109 | 7,409,664 | 43,200 | SH | SOLE | 11,000 | 0 | 32,200 | ||
| Aegon Ltd - NY Reg Shrs | COM | 0076ca104 | 224,916 | 36,691 | SH | SOLE | 0 | 0 | 36,691 | ||
| Agilent Technologies, Inc.(spu | COM | 00846U101 | 206,501 | 1,593 | SH | SOLE | 0 | 0 | 1,593 | ||
| Allstate Corp | COM | 020002101 | 319,320 | 2,000 | SH | SOLE | 0 | 0 | 2,000 | ||
| Alphabet Inc. Cl C | COM | 02079K107 | 11,911,295 | 64,940 | SH | SOLE | 19,000 | 0 | 45,940 | ||
| Altria Group Inc. | COM | 02209S103 | 4,695,112 | 103,076 | SH | SOLE | 27,000 | 0 | 76,076 | ||
| Amazon.com, Inc. | COM | 023135106 | 4,629,304 | 23,955 | SH | SOLE | 5,000 | 0 | 18,955 | ||
| American Electric Power | COM | 025537101 | 877,400 | 10,000 | SH | SOLE | 10,000 | 0 | 0 | ||
| Aon PLC | COM | 037389103 | 3,410,812 | 11,618 | SH | SOLE | 0 | 0 | 11,618 | ||
| Apple Inc. | COM | 037833100 | 54,762,885 | 260,008 | SH | SOLE | 74,800 | 0 | 185,208 | ||
| Applied Materials Inc | COM | 038222105 | 725,669 | 3,075 | SH | SOLE | 0 | 0 | 3,075 | ||
| Archer-Daniels-Midland Corp | COM | 039483102 | 614,897 | 10,172 | SH | SOLE | 0 | 0 | 10,172 | ||
| AstraZeneca PLC-SPONS ADR | COM | 046353108 | 623,920 | 8,000 | SH | SOLE | 8,000 | 0 | 0 | ||
| AvalonBay Communities, Inc REI | COM | 053484101 | 1,034,450 | 5,000 | SH | SOLE | 5,000 | 0 | 0 | ||
| Bank of Hawaii Corporation | COM | 062540109 | 4,162,600 | 72,760 | SH | SOLE | 12,000 | 0 | 60,760 | ||
| Berkshire Hathaway Inc. Cl A | COM | 084670108 | 11,020,338 | 18 | SH | SOLE | 9 | 0 | 9 | ||
| Berkshire Hathaway Inc. Cl B | COM | 084670702 | 8,346,722 | 20,518 | SH | SOLE | 0 | 0 | 20,518 | ||
| Blackstone Inc. (The) | COM | 09260d107 | 1,361,800 | 11,000 | SH | SOLE | 10,000 | 0 | 1,000 | ||
| BP PLC Spons ADR | COM | 055622104 | 420,276 | 11,642 | SH | SOLE | 0 | 0 | 11,642 | ||
| Bristol-Myers Squibb Co | COM | 110122108 | 2,482,414 | 59,774 | SH | SOLE | 0 | 0 | 59,774 | ||
| British American Tobacco PLC - | COM | 110448107 | 1,851,594 | 59,864 | SH | SOLE | 19,000 | 0 | 40,864 | ||
| BXP Inc. (frmly Boston Propert | COM | 101121101 | 369,360 | 6,000 | SH | SOLE | 0 | 0 | 6,000 | ||
| Carrier Global Corp (RTX Spino | COM | 14448c104 | 908,352 | 14,400 | SH | SOLE | 6,000 | 0 | 8,400 | ||
| Caterpillar Inc. | COM | 149123101 | 2,231,770 | 6,700 | SH | SOLE | 4,000 | 0 | 2,700 | ||
| Chevron Corp | COM | 166764100 | 17,723,012 | 113,304 | SH | SOLE | 9,000 | 0 | 104,304 | ||
| Chubb Limited (frmly ACE Limit | COM | H1467J104 | 3,802,222 | 14,906 | SH | SOLE | 5,000 | 0 | 9,906 | ||
| Church & Dwight | COM | 171340102 | 248,832 | 2,400 | SH | SOLE | 0 | 0 | 2,400 | ||
| Cigna Corp (acquired Express S | COM | 125523100 | 1,960,941 | 5,932 | SH | SOLE | 0 | 0 | 5,932 | ||
| Coca-Cola Co | COM | 191216100 | 10,994,328 | 172,731 | SH | SOLE | 40,000 | 0 | 132,731 | ||
| ConocoPhillips | COM | 20825c104 | 2,482,046 | 21,700 | SH | SOLE | 12,000 | 0 | 9,700 | ||
| Constellation Brands, Inc. | COM | 21036P108 | 2,714,304 | 10,550 | SH | SOLE | 2,000 | 0 | 8,550 | ||
| COPT Defense Prop REIT(frm Cor | COM | 22002T108 | 227,773 | 9,100 | SH | SOLE | 9,100 | 0 | 0 | ||
| Crown Castle International Cor | COM | 22822v101 | 420,110 | 4,300 | SH | SOLE | 0 | 0 | 4,300 | ||
| Darden Restaurants Inc. | COM | 237194105 | 453,960 | 3,000 | SH | SOLE | 0 | 0 | 3,000 | ||
| Diageo PLC ADR | COM | 25243Q205 | 5,672,339 | 44,990 | SH | SOLE | 15,000 | 0 | 29,990 | ||
| Digital Realty Trust, Inc. REI | COM | 253868103 | 3,472,822 | 22,840 | SH | SOLE | 5,500 | 0 | 17,340 | ||
| Disney Walt Co | COM | 254687106 | 5,547,829 | 55,875 | SH | SOLE | 27,644 | 0 | 28,231 | ||
| Edwards Lifesciences Corp. | COM | 28176E108 | 1,142,617 | 12,370 | SH | SOLE | 0 | 0 | 12,370 | ||
| Emerson Electric Co | COM | 291011104 | 785,441 | 7,130 | SH | SOLE | 0 | 0 | 7,130 | ||
| Enterprise Products Partners, | COM | 293792107 | 4,515,374 | 155,810 | SH | SOLE | 17,500 | 0 | 138,310 | ||
| Expedia Inc.(IAC/InterActiveCo | COM | 30212p303 | 617,351 | 4,900 | SH | SOLE | 0 | 0 | 4,900 | ||
| Exxon Mobil Corporation | COM | 30231G102 | 1,346,904 | 11,700 | SH | SOLE | 6,000 | 0 | 5,700 | ||
| Fidelity National Financial, I | COM | 31620r303 | 516,834 | 10,458 | SH | SOLE | 0 | 0 | 10,458 | ||
| Fidelity National Information | COM | 31620m106 | 404,231 | 5,364 | SH | SOLE | 0 | 0 | 5,364 | ||
| General Mills, Inc. | COM | 370334104 | 3,542,560 | 56,000 | SH | SOLE | 20,000 | 0 | 36,000 | ||
| General Motors Company | COM | 37045v100 | 5,275,068 | 113,540 | SH | SOLE | 15,000 | 0 | 98,540 | ||
| Home Depot | COM | 437076102 | 6,729,892 | 19,550 | SH | SOLE | 10,000 | 0 | 9,550 | ||
| Howard Hughes Holdings Inc. | COM | 44267T102 | 265,762 | 4,100 | SH | SOLE | 4,002 | 0 | 98 | ||
| IAC Inc. | COM | 44891n208 | 230,736 | 4,925 | SH | SOLE | 0 | 0 | 4,925 | ||
| International Business Machine | COM | 459200101 | 5,439,623 | 31,452 | SH | SOLE | 4,000 | 0 | 27,452 | ||
| Iron Mountain Inc. REIT | COM | 46284v101 | 11,704,372 | 130,600 | SH | SOLE | 27,000 | 0 | 103,600 | ||
| Johnson & Johnson | COM | 478160104 | 4,557,269 | 31,180 | SH | SOLE | 8,062 | 0 | 23,118 | ||
| JPMorgan Chase & Co. | COM | 46625H100 | 12,930,684 | 63,931 | SH | SOLE | 12,000 | 0 | 51,931 | ||
| Kimberly-Clark | COM | 494368103 | 1,962,440 | 14,200 | SH | SOLE | 0 | 0 | 14,200 | ||
| Kinder Morgan, Inc. | COM | 49456B101 | 4,832,781 | 243,220 | SH | SOLE | 57,500 | 0 | 185,720 | ||
| KKR & Co. Inc. | COM | 48251w104 | 1,894,320 | 18,000 | SH | SOLE | 18,000 | 0 | 0 | ||
| Loews Corp | COM | 540424108 | 5,823,517 | 77,917 | SH | SOLE | 0 | 0 | 77,917 | ||
| Marker Therapeutics, Inc. | COM | 57055L107 | 383,901 | 70,700 | SH | SOLE | 40,000 | 0 | 30,700 | ||
| McDonald's Corp | COM | 580135101 | 1,783,880 | 7,000 | SH | SOLE | 7,000 | 0 | 0 | ||
| Merck & Co., Inc. | COM | 58933Y105 | 16,628,816 | 134,320 | SH | SOLE | 19,000 | 0 | 115,320 | ||
| MetLife Inc. | COM | 59156r108 | 280,760 | 4,000 | SH | SOLE | 0 | 0 | 4,000 | ||
| Microsoft Corporation | COM | 594918104 | 10,851,499 | 24,279 | SH | SOLE | 4,000 | 0 | 20,279 | ||
| Mondelez Intl Inc.(fmrly Kraft | COM | 609207105 | 2,977,520 | 45,500 | SH | SOLE | 17,612 | 0 | 27,888 | ||
| Morgan Stanley | COM | 617446448 | 1,107,966 | 11,400 | SH | SOLE | 10,000 | 0 | 1,400 | ||
| Nestle SA - Spon ADR | COM | 641069406 | 1,741,650 | 17,000 | SH | SOLE | 7,000 | 0 | 10,000 | ||
| NIKE, Inc. Cl B | COM | 654106103 | 5,936,895 | 78,770 | SH | SOLE | 37,500 | 0 | 41,270 | ||
| Novartis AG - ADR | COM | 66987v109 | 1,144,445 | 10,750 | SH | SOLE | 0 | 0 | 10,750 | ||
| Nvidia Corporation | COM | 67066G104 | 10,062,333 | 81,450 | SH | SOLE | 34,000 | 0 | 47,450 | ||
| On Holding AG | COM | h5919c104 | 388,000 | 10,000 | SH | SOLE | 10,000 | 0 | 0 | ||
| Oracle Corp | COM | 68389X105 | 423,600 | 3,000 | SH | SOLE | 0 | 0 | 3,000 | ||
| Otis Worldwide Corp (RTX Spino | COM | 68902v107 | 693,072 | 7,200 | SH | SOLE | 3,000 | 0 | 4,200 | ||
| PepsiCo | COM | 713448108 | 6,961,530 | 42,209 | SH | SOLE | 15,000 | 0 | 27,209 | ||
| Pfizer, Inc. | COM | 717081103 | 4,335,921 | 154,965 | SH | SOLE | 54,754 | 0 | 100,211 | ||
| Philip Morris International-Al | COM | 718172109 | 11,359,701 | 112,106 | SH | SOLE | 29,500 | 0 | 82,606 | ||
| Phillips 66 | COM | 718546104 | 1,778,742 | 12,600 | SH | SOLE | 6,000 | 0 | 6,600 | ||
| Procter & Gamble Co | COM | 742718109 | 12,337,500 | 74,809 | SH | SOLE | 11,000 | 0 | 63,809 | ||
| Public Storage - REIT | COM | 74460D109 | 686,908 | 2,388 | SH | SOLE | 0 | 0 | 2,388 | ||
| Ralph Lauren Corp (fmly Polo R | COM | 751212101 | 525,180 | 3,000 | SH | SOLE | 3,000 | 0 | 0 | ||
| Rexford Industrial Realty, Inc | COM | 76169c100 | 2,167,074 | 48,600 | SH | SOLE | 30,000 | 0 | 18,600 | ||
| Rio Tinto PLC Sponsored ADR | COM | 767204100 | 659,300 | 10,000 | SH | SOLE | 0 | 0 | 10,000 | ||
| Roche Holding Ltd ADR | COM | 771195104 | 3,744,360 | 108,000 | SH | SOLE | 21,000 | 0 | 87,000 | ||
| RTX Corp (frmly Raytheon Tech | COM | 75513e101 | 1,746,786 | 17,400 | SH | SOLE | 6,000 | 0 | 11,400 | ||
| Sempra Energy | COM | 816851109 | 2,205,740 | 29,000 | SH | SOLE | 15,000 | 0 | 14,000 | ||
| Swire Pacific Ltd Spons ADR Rp | COM | 870794302 | 355,600 | 40,000 | SH | SOLE | 0 | 0 | 40,000 | ||
| Sysco Corp | COM | 871829107 | 713,900 | 10,000 | SH | SOLE | 0 | 0 | 10,000 | ||
| Taiwan Semiconductor Mfg Co Lt | COM | 874039100 | 870,093 | 5,006 | SH | SOLE | 0 | 0 | 5,006 | ||
| Tanger Inc. REIT | COM | 875465106 | 6,426,426 | 237,050 | SH | SOLE | 25,200 | 0 | 211,850 | ||
| Target Corp-frmly Dayton Hudso | COM | 87612E106 | 8,670,703 | 58,570 | SH | SOLE | 9,000 | 0 | 49,570 | ||
| Texas Instruments Inc. | COM | 882508104 | 1,945,300 | 10,000 | SH | SOLE | 0 | 0 | 10,000 | ||
| Toast, Inc. | COM | 888787108 | 304,086 | 11,800 | SH | SOLE | 0 | 0 | 11,800 | ||
| TotalEnergies SE ADR (frmrly T | COM | 89151E109 | 2,612,189 | 39,175 | SH | SOLE | 10,000 | 0 | 29,175 | ||
| Travelers Companies, Inc. | COM | 89417e109 | 663,702 | 3,264 | SH | SOLE | 0 | 0 | 3,264 | ||
| U.S. Bancorp (Formerly First B | COM | 902973304 | 580,017 | 14,610 | SH | SOLE | 0 | 0 | 14,610 | ||
| Union Pacific Corporation | COM | 907818108 | 1,696,950 | 7,500 | SH | SOLE | 0 | 0 | 7,500 | ||
| United Parcel Service, Inc. Cl | COM | 911312106 | 697,935 | 5,100 | SH | SOLE | 5,000 | 0 | 100 | ||
| UnitedHealth Group Inc | COM | 91324P102 | 1,573,613 | 3,090 | SH | SOLE | 1,200 | 0 | 1,890 | ||
| Verizon Communications Inc. | COM | 92343V104 | 4,147,053 | 100,559 | SH | SOLE | 27,000 | 0 | 73,559 | ||
| VICI Properties Inc. (REIT) | COM | 925652109 | 2,974,264 | 103,850 | SH | SOLE | 38,000 | 0 | 65,850 | ||
| Visa Inc. | COM | 92826c839 | 209,976 | 800 | SH | SOLE | 0 | 0 | 800 | ||
| Vivmark Residential REIT (fmrl | COM | 29476l107 | 3,779,030 | 54,500 | SH | SOLE | 20,000 | 0 | 34,500 | ||
| Vodafone Group PLC SPN ADR | COM | 92857W308 | 288,843 | 32,564 | SH | SOLE | 27,000 | 0 | 5,564 | ||
| Walmart Inc. | COM | 931142103 | 5,484,510 | 81,000 | SH | SOLE | 0 | 0 | 81,000 | ||
| Yum Brands Inc. (formerly Tric | COM | 988498101 | 805,357 | 6,080 | SH | SOLE | 0 | 0 | 6,080 | ||
| Zimmer Biomet Holdings(frmly Z | COM | 98956P102 | 727,151 | 6,700 | SH | SOLE | 0 | 0 | 6,700 | ||
| Zoetis Inc. | COM | 98978v103 | 5,870,663 | 33,864 | SH | SOLE | 7,172 | 0 | 26,692 | ||
| Brookfield Prpty Ptnrs LP 6.5 | PFD | G16249149 | 1,420,000 | 100,000 | SH | SOLE | 20,000 | 0 | 80,000 | ||
| JPMorgan Chase 6.00 Callable Q | PFD | 48128b648 | 753,000 | 30,000 | SH | SOLE | 30,000 | 0 | 0 | ||
| Prudential Financial Inc 5.625 | PFD | 744320805 | 1,789,230 | 73,000 | SH | SOLE | 20,000 | 0 | 53,000 | ||
| Public Storage 5.15 Ser F Call | PFD | 74460W685 | 925,200 | 40,000 | SH | SOLE | 30,000 | 0 | 10,000 | ||