D L Carlson Investment 13F-HR Quarterly holdings report by institutional manager

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

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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
AT&T Inc	COM	00206r102	3,313	98,881	SH		SOLE		14,994	0	83,887
Abbott Labs	COM	002824100	828	9,845	SH		SOLE		470	0	9,375
Accenture PLC	COM	g1151c101	957	5,178	SH		SOLE		1,355	0	3,823
Adobe Systems	COM	00724F101	2,864	9,720	SH		SOLE		2,445	0	7,275
Advncd Micro Devices Inc	COM	007903107	4,607	151,700	SH		SOLE		23,810	0	127,890
Albemarle Corp.	COM	012653101	390	5,540	SH		SOLE		2,590	0	2,950
Alerian MLP ETF	COM	00162Q866	98	10,000	SH		SOLE		0	0	10,000
Alliant Energy Corp	COM	018802108	2,421	49,320	SH		SOLE		7,325	0	41,995
Alphabet, Inc. Class A	COM	02079K305	5,029	4,644	SH		SOLE		694	0	3,950
Alphabet, Inc. Class C	COM	02079K107	885	819	SH		SOLE		187	0	632
Altria Group Inc	COM	02209s103	3,122	65,941	SH		SOLE		6,500	0	59,441
Amazon.com	COM	023135106	9,684	5,114	SH		SOLE		784	0	4,330
Amgen	COM	031162100	224	1,215	SH		SOLE		0	0	1,215
Analog Devices Inc.	COM	032654105	317	2,808	SH		SOLE		392	0	2,416
Annaly Mort Mgmt	COM	035710409	128	14,000	SH		SOLE		0	0	14,000
Apple Computer	COM	037833100	11,152	56,347	SH		SOLE		8,937	0	47,410
Ares Capital Corp.	COM	04010l103	4,841	269,847	SH		SOLE		46,095	0	223,752
Atlassian Corp.	COM	g06242104	3,404	26,013	SH		SOLE		3,695	0	22,318
BCE Inc.	COM	05534b760	2,534	55,720	SH		SOLE		7,830	0	47,890
BHP Billiton PLC ADR	COM	05545e209	4,477	87,596	SH		SOLE		10,675	0	76,921
BJ's Wholesale Club Hldgs	COM	05550J101	2,471	93,580	SH		SOLE		10,740	0	82,840
Bank of NT Butterfield & Son L	COM	G0772R208	204	6,000	SH		SOLE		0	0	6,000
Becton Dickinson	COM	075887109	4,492	17,826	SH		SOLE		3,575	0	14,251
Berkshire Hathaway CL B New	COM	084670702	420	1,970	SH		SOLE		958	0	1,012
Boeing Co	COM	097023105	2,997	8,233	SH		SOLE		1,095	0	7,138
Bristol Myers	COM	110122108	1,983	43,726	SH		SOLE		4,190	0	39,536
Cadence Bancorp Class A	COM	12739A100	610	29,327	SH		SOLE		12,795	0	16,532
Caterpillar Tractor	COM	149123101	4,213	30,912	SH		SOLE		3,495	0	27,417
Centerstate Bank Corp.	COM	15201p109	1,756	76,270	SH		SOLE		4,965	0	71,305
Charles Schwab	COM	808513105	2,048	50,954	SH		SOLE		3,365	0	47,589
Chevron Corp	COM	166764100	3,060	24,590	SH		SOLE		2,888	0	21,702
Cisco Systems	COM	17275R102	1,397	25,520	SH		SOLE		9,075	0	16,445
Citigroup	COM	172967424	4,599	65,670	SH		SOLE		11,085	0	54,585
Coca Cola Euro Ptnrs	COM	g25839104	4,809	85,113	SH		SOLE		16,105	0	69,008
Columbia Sportswear, Co.	COM	198516106	1,809	18,061	SH		SOLE		1,670	0	16,391
Constellation Brands, Inc.	COM	21036p108	1,428	7,253	SH		SOLE		1,715	0	5,538
Cree Inc.	COM	225447101	8,980	159,838	SH		SOLE		16,735	0	143,103
CyrusOne, Inc.	COM	23283r100	3,180	55,100	SH		SOLE		7,505	0	47,595
Dominion Res New	COM	25746u109	310	4,006	SH		SOLE		1,664	0	2,342
E I Du Pont	COM	263534109	293	3,899	SH		SOLE		214	0	3,685
EOG Resources, Inc.	COM	26875p101	2,432	26,106	SH		SOLE		3,627	0	22,479
Elastic NV	COM	N14506104	1,723	23,080	SH		SOLE		1,060	0	22,020
Emerson Electric	COM	291011104	234	3,500	SH		SOLE		0	0	3,500
Enbridge Inc.	COM	29250N105	713	19,759	SH		SOLE		5,164	0	14,595
Energy Select Spdr	COM	81369y506	398	6,250	SH		SOLE		3,215	0	3,035
Enterprise Prods LP	COM	293792107	689	23,874	SH		SOLE		2,500	0	21,374
Everest Reinsurance Group	COM	G3223R108	1,228	4,970	SH		SOLE		150	0	4,820
Exelon Corp.	COM	30161n101	2,768	57,741	SH		SOLE		6,160	0	51,581
Exxon Mobil	COM	30231g102	2,626	34,263	SH		SOLE		5,043	0	29,220
Facebook Inc.	COM	30303m102	6,157	31,903	SH		SOLE		4,170	0	27,733
Fidelity MSCI Financials ETF	COM	316092501	716	17,857	SH		SOLE		0	0	17,857
Fidelity MSCI Health Care ETF	COM	316092600	591	13,120	SH		SOLE		185	0	12,935
First Busey Corp	COM	319383204	259	9,800	SH		SOLE		9,800	0	0
First Republic Bank	COM	33616c100	1,748	17,896	SH		SOLE		2,015	0	15,881
Floor & Decor Hldgs	COM	339750101	418	9,970	SH		SOLE		3,525	0	6,445
Generac Holdings, Inc.	COM	368736104	4,734	68,202	SH		SOLE		11,517	0	56,685
Glacier Bancorp, Inc.	COM	37637q105	394	9,725	SH		SOLE		725	0	9,000
Goldman Sachs	COM	38141G104	3,198	15,629	SH		SOLE		2,013	0	13,616
Goldmining Inc.	COM	38149E101	10	14,000	SH		SOLE		0	0	14,000
Green Energy Renewable	COM	17277D101	0	10,000	SH		SOLE		0	0	10,000
HSBC Holdings Plc	COM	404280406	479	11,466	SH		SOLE		2,230	0	9,236
Healthcare Select Sector Spdr	COM	81369y209	736	7,948	SH		SOLE		1,074	0	6,874
Highwood REIT	COM	431284108	248	6,000	SH		SOLE		0	0	6,000
Home Depot Inc.	COM	437076102	5,186	24,935	SH		SOLE		4,771	0	20,164
Honeywell Inc.	COM	438516106	1,146	6,565	SH		SOLE		1,275	0	5,290
Illinois Tool Works	COM	452308109	4,568	30,293	SH		SOLE		4,684	0	25,609
Independent Bank Group, Inc.	COM	45384b106	1,502	27,332	SH		SOLE		2,620	0	24,712
Int'l. Flavors & Fragrances	COM	459506101	2,196	15,136	SH		SOLE		1,755	0	13,381
Intel Corp	COM	458140100	1,894	39,556	SH		SOLE		9,835	0	29,721
Invesco S&P 500 Equal Weight E	COM	46137v357	520	4,821	SH		SOLE		0	0	4,821
JP Morgan Chase	COM	46625H100	9,142	81,774	SH		SOLE		12,324	0	69,450
JPMorgan Diversified Rtn US Eq	COM	46641q407	1,011	13,505	SH		SOLE		1,230	0	12,275
Johnson & Johnson	COM	478160104	6,740	48,392	SH		SOLE		7,110	0	41,282
Kayne Anderson MLP Inv. Co.	COM	486606106	155	10,110	SH		SOLE		0	0	10,110
Kratos Defense & Security Solu	COM	50077b207	6,412	280,110	SH		SOLE		52,450	0	227,660
Lockheed Martin	COM	539830109	5,771	15,875	SH		SOLE		2,513	0	13,362
Marathon Oil	COM	565849106	178	12,545	SH		SOLE		3,360	0	9,185
Masco Corp	COM	574599106	514	13,110	SH		SOLE		2,750	0	10,360
Masimo Corp.	COM	574795100	5,997	40,295	SH		SOLE		7,428	0	32,867
Materials Select Sector SPDR	COM	81369y100	1,345	22,993	SH		SOLE		3,025	0	19,968
McDonalds Corp	COM	580135101	740	3,565	SH		SOLE		1,910	0	1,655
McEwen Mining Inc.	COM	58039p107	19	11,039	SH		SOLE		0	0	11,039
Meritor, Inc.	COM	59001k100	1,956	80,680	SH		SOLE		7,000	0	73,680
Microsoft	COM	594918104	13,065	97,528	SH		SOLE		14,309	0	83,219
Mongodb, Inc.	COM	60937p106	7,993	52,554	SH		SOLE		6,610	0	45,944
Netflix	COM	64110l106	4,531	12,336	SH		SOLE		2,328	0	10,008
Nextera Energy Inc.	COM	65339f101	2,240	10,935	SH		SOLE		1,125	0	9,810
Nike Inc. Cl B	COM	654106103	3,842	45,767	SH		SOLE		7,280	0	38,487
Okta, Inc.	COM	679295105	2,456	19,885	SH		SOLE		1,870	0	18,015
Oneok, Inc	COM	682680103	3,417	49,652	SH		SOLE		7,140	0	42,512
Palo Alto Networks	COM	697435105	1,556	7,637	SH		SOLE		2,438	0	5,199
Pepsico Inc.	COM	713448108	619	4,720	SH		SOLE		1,925	0	2,795
Pfizer Inc.	COM	717081103	392	9,049	SH		SOLE		0	0	9,049
Preformed Line Prods	COM	740444104	289	5,200	SH		SOLE		0	0	5,200
Procter Gamble	COM	742718109	4,747	43,295	SH		SOLE		6,452	0	36,843
Q2 Holdings, Inc.	COM	74736l109	3,610	47,278	SH		SOLE		9,780	0	37,498
Repligen Corp.	COM	759916109	2,401	27,932	SH		SOLE		7,705	0	20,227
Roku, Inc.	COM	77543r102	2,491	27,497	SH		SOLE		3,100	0	24,397
Royal Dutch Shell PLC	COM	780259206	301	4,625	SH		SOLE		925	0	3,700
SPDR S&P 500 ETF Trust	COM	78462f103	261	892	SH		SOLE		0	0	892
SPDR S&P Bank ETF	COM	78464a797	558	12,880	SH		SOLE		3,005	0	9,875
SPDR S&P Biotech ETF	COM	78464a870	4,029	45,932	SH		SOLE		6,510	0	39,422
SPDR S&P Pharmaceuticals ETF	COM	78464a722	287	7,210	SH		SOLE		1,075	0	6,135
SPDR S&P Regional Banking ETF	COM	78464a698	341	6,375	SH		SOLE		1,825	0	4,550
Schwab US Broad Market	COM	808524102	315	4,470	SH		SOLE		315	0	4,155
Schwab US Div Eqty ETF	COM	808524797	2,486	46,850	SH		SOLE		2,226	0	44,624
Schwab US Large Cap Growth ETF	COM	808524300	290	3,481	SH		SOLE		50	0	3,431
Sector SPDR Fincl. Select	COM	81369y605	1,216	44,042	SH		SOLE		9,635	0	34,407
Slack Technologies	COM	83088v102	2,209	58,900	SH		SOLE		6,430	0	52,470
Snap, Inc.	COM	83304a106	2,504	175,080	SH		SOLE		8,625	0	166,455
Solera Bank	COM	83420T104	614	54,400	SH		SOLE		11,000	0	43,400
Starbucks	COM	855244109	2,490	29,701	SH		SOLE		6,595	0	23,106
Steel Case	COM	858155203	2,374	138,808	SH		SOLE		17,300	0	121,508
Stryker Corp.	COM	863667101	7,667	37,295	SH		SOLE		6,301	0	30,994
Surgutneftegaz JSC ADR Pfd	COM	868861105	75	11,000	SH		SOLE		0	0	11,000
TJX Cos Inc	COM	872540109	438	8,275	SH		SOLE		1,350	0	6,925
Target Corp	COM	87612e106	1,785	20,606	SH		SOLE		4,819	0	15,787
Technology Select Sect SPDR	COM	81369y803	313	4,009	SH		SOLE		100	0	3,909
Texas Instruments	COM	882508104	1,096	9,550	SH		SOLE		4,465	0	5,085
Tortoise MLP Fund	COM	89148b101	188	13,900	SH		SOLE		10,000	0	3,900
Total SA/Adr	COM	89151E109	3,007	53,891	SH		SOLE		7,250	0	46,641
Travelers Companies	COM	89417e109	732	4,899	SH		SOLE		1,600	0	3,299
US Bancorp	COM	902973304	271	5,168	SH		SOLE		1,500	0	3,668
Under Armour Inc. Class A	COM	904311107	4,937	194,750	SH		SOLE		28,585	0	166,165
Union Pacific Corp.	COM	907818108	364	2,150	SH		SOLE		231	0	1,919
Uranium Energy Corp	COM	916896103	25	18,000	SH		SOLE		0	0	18,000
Utilities Select Sector SPDR	COM	81369y886	1,645	27,593	SH		SOLE		4,897	0	22,696
VICI Properties, Inc.	COM	925652109	3,038	137,830	SH		SOLE		21,145	0	116,685
Vanguard Dividend Appreciation	COM	921908844	616	5,348	SH		SOLE		955	0	4,393
Vanguard FTSE Dev. Market	COM	921943858	286	6,868	SH		SOLE		0	0	6,868
Vanguard Reit	COM	922908553	1,970	22,544	SH		SOLE		5,056	0	17,488
Varian Med Sys	COM	92220p105	3,150	23,141	SH		SOLE		2,679	0	20,462
Verizon	COM	92343v104	2,471	43,245	SH		SOLE		12,365	0	30,880
WEC Energy Group, Inc.	COM	92939U106	300	3,602	SH		SOLE		2,540	0	1,062
Walt Disney Co.	COM	254687106	1,961	14,047	SH		SOLE		850	0	13,197
Welltower, Inc.	COM	95040Q104	4,162	51,047	SH		SOLE		7,950	0	43,097
Weyerhaeuser Co	COM	962166104	211	8,000	SH		SOLE		0	0	8,000
iShares China Large Cap	COM	464287184	219	5,130	SH		SOLE		1,000	0	4,130
iShares Core S&P 500 Index	COM	464287200	644	2,186	SH		SOLE		0	0	2,186
iShares Core US Value	COM	464287663	893	15,760	SH		SOLE		641	0	15,119
iShares DJ US Tech Sec	COM	464287721	471	2,381	SH		SOLE		508	0	1,873
iShares Global Telecom	COM	464287275	337	5,887	SH		SOLE		1,415	0	4,472
iShares Russell 1000	COM	464287622	303	1,862	SH		SOLE		0	0	1,862
iShares Russell 2000	COM	464287655	364	2,339	SH		SOLE		0	0	2,339
iShares S&P Global Cons Stpls	COM	464288737	265	5,030	SH		SOLE		1,680	0	3,350
iShares SP MidCap 400	COM	464287507	489	2,518	SH		SOLE		750	0	1,768
First Republic Bank 5.5 pfd	PFD	336158803	659	26,020	SH		SOLE		5,200	0	20,820
JP Morgan Chase 6.1 pfd	PFD	48127X542	1,399	53,631	SH		SOLE		16,275	0	37,356
Wells Fargo 5.70 Pfd	PFD	94988u714	1,155	44,637	SH		SOLE		9,350	0	35,287
Wells Fargo B 5.25 Pfd	PFD	949746655	204	8,140	SH		SOLE		5,000	0	3,140
Wells Fargo & Co 7.50 Cv Pfd S	COM	949746804	273	200	SH		SOLE		200	0	0