The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 LABS COM 002824100 2,495 60,000 SH   OTR 1 0 60,000 0
ABBVIE INC COM 00287Y109 3,466 60,000 SH   OTR 1 0 60,000 0
AIR PRODS & CHEMS INC COM 009158106 1,562 12,000 SH   OTR 1 0 12,000 0
ALTRIA GROUP INC COM 02209S103 5,513 120,000 SH   OTR 1 0 120,000 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,796 16,200 SH   OTR 1 0 16,200 0
APPLE INC COM 037833100 1,693 16,800 SH   OTR 1 0 16,800 0
AUTOMATIC DATA PROCESSING IN COM 053015103 2,908 35,000 SH   OTR 1 0 35,000 0
BANK AMER CORP 7.25%CNV PFD L 060505682 287 250 SH   DFND 1 250 0 0
BARCLAYS BANK PLC ADS7.75%PFD S4 06739H511 13,447 520,000 SH   DFND 2 520,000 0 0
BLACKROCK INC COM 09247X101 2,134 6,500 SH   OTR 1 0 6,500 0
CIT GROUP INC COM NEW 125581801 43 927 SH   DFND   927 0 0
CIT GROUP INC COM NEW 125581801 280 6,099 SH   DFND   6,099 0 0
CANADIAN PAC RY LTD COM 13645T100 1,432 6,900 SH   OTR 1 0 6,900 0
CAPITALA FIN CORP COM 14054R106 3,818 215,476 SH   SOLE   215,476 0 0
CATERPILLAR INC DEL COM 149123101 3,070 31,000 SH   OTR 1 0 31,000 0
CHEVRON CORP NEW COM 166764100 7,756 65,000 SH   OTR 1 0 65,000 0
COCA COLA CO COM 191216100 8,532 200,000 SH   OTR 1 0 200,000 0
COMCAST CORP NEW CL A 20030N101 1,882 35,000 SH   OTR 1 0 35,000 0
CONOCOPHILLIPS COM 20825C104 4,209 55,000 SH   OTR 1 0 55,000 0
DIAGEO P L C SPON ADR NEW 25243Q205 1,339 11,600 SH   OTR 1 0 11,600 0
DISNEY WALT CO COM DISNEY 254687106 1,024 11,500 SH   OTR 1 0 11,500 0
ENTERPRISE PRODS PARTNERS L COM 293792107 6,045 150,000 SH   OTR 1 0 150,000 0
EXXON MOBIL CORP COM 30231G102 10,346 110,000 SH   OTR 1 0 110,000 0
FIFTH STR SR FLOATNG RATE CO COM 31679F101 4,610 390,000 SH   SOLE   390,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,959 60,000 SH   OTR 1 0 60,000 0
GILEAD SCIENCES INC COM 375558103 373 3,500 SH   OTR 1 0 3,500 0
INTEL CORP COM 458140100 2,786 80,000 SH   OTR 1 0 80,000 0
INTERNATIONAL BUSINESS MACHS COM 459200101 4,366 23,000 SH   OTR 1 0 23,000 0
ISHARES TR CORE S&P500 ETF 464287200 51,151 258,000 SH   DFND 1 258,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 5,320 45,000 SH   DFND   45,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 3,547 30,000 SH   DFND 2 30,000 0 0
ISHARES TR MSCI EAFE ETF 464287465 15,645 244,000 SH   DFND 1 244,000 0 0
JPMORGAN CHASE & CO COM 46625H100 3,855 64,000 SH   OTR 1 0 64,000 0
JOHNSON & JOHNSON COM 478160104 6,928 65,000 SH   OTR 1 0 65,000 0
KRAFT FOODS GROUP INC COM 50076Q106 1,598 28,333 SH   OTR 1 0 28,333 0
LAUDER ESTEE COS INC CL A 518439104 1,599 21,400 SH   OTR 1 0 21,400 0
MCDONALDS CORP COM 580135101 5,025 53,000 SH   OTR 1 0 53,000 0
MERCK & CO INC NEW COM 58933Y105 2,075 35,000 SH   OTR 1 0 35,000 0
MONDELEZ INTL INC CL A 609207105 2,913 85,000 SH   OTR 1 0 85,000 0
NRG ENERGY INC COM NEW 629377508 4 118 SH   DFND   118 0 0
NOVARTIS A G SPONSORED ADR 66987V109 1,346 14,300 SH   OTR 1 0 14,300 0
OCCIDENTAL PETE CORP DEL COM 674599105 3,125 32,500 SH   OTR 1 0 32,500 0
PEPSICO INC COM 713448108 4,189 45,000 SH   OTR 1 0 45,000 0
PHILIP MORRIS INTL INC COM 718172109 10,008 120,000 SH   OTR 1 0 120,000 0
PHILLIPS 66 COM 718546104 2,236 27,500 SH   OTR 1 0 27,500 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 7,652 130,000 SH   OTR 1 0 130,000 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 14,568 600,000 SH   DFND 2 600,000 0 0
PRAXAIR INC COM 74005P104 2,322 18,000 SH   OTR 1 0 18,000 0
PROCTER & GAMBLE CO COM 742718109 5,058 60,400 SH   OTR 1 0 60,400 0
RESOLUTE FST PRODS INC COM 76117W109 69 4,425 SH   DFND 2 4,425 0 0
TCP CAP CORP COM 87238Q103 9,106 566,625 SH   SOLE   566,625 0 0
TARGET CORP COM 87612E106 2,633 42,000 SH   OTR 1 0 42,000 0
TEXAS INSTRS INC COM 882508104 2,385 50,000 SH   OTR 1 0 50,000 0
TIME WARNER CABLE INC COM 88732J207 2,009 14,000 SH   OTR 1 0 14,000 0
UNION PAC CORP COM 907818108 1,409 13,000 SH   OTR 1 0 13,000 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 5,297 127,000 SH   DFND 1 127,000 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 34,312 190,000 SH   DFND 1 190,000 0 0
WAL-MART STORES INC COM 931142103 3,288 43,000 SH   OTR 1 0 43,000 0
WALGREEN CO COM 931422109 2,964 50,000 SH   OTR 1 0 50,000 0
WELLS FARGO & CO NEW COM 949746101 778 15,000 SH   OTR 1 0 15,000 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 3,448 65,000 SH   OTR 1 0 65,000 0