Obermeyer Wood Investment Counsel, LLLP 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
Abbott Laboratories	COM	002824100	473	10,499	SH		SOLE		10,499	0	0
AbbVie Inc.	COM	00287y109	665	10,169	SH		SOLE		10,169	0	0
Accelerate Diagnostics Inc.	COM	00430h102	5,307	276,549	SH		SOLE		276,549	0	0
AEROVIRONMENT INC	COM	008073108	10,138	372,025	SH		SOLE		372,025	0	0
Albany Molecular Research Inc.	COM	012423109	4,900	301,003	SH		SOLE		301,003	0	0
Alliance Resource Partners LP	COM	01877R108	1,483	34,450	SH		SOLE		34,450	0	0
Allstate Corp	COM	020002101	211	3,000	SH		SOLE		3,000	0	0
Amazon.com Inc.	COM	023135106	281	905	SH		SOLE		905	0	0
American International Group	COM	026874784	20,127	359,350	SH		SOLE		359,350	0	0
AMERIGAS PARTNERS L P UNIT L P	COM	030975106	207	4,310	SH		SOLE		4,310	0	0
Amgen Inc.	COM	031162100	377	2,364	SH		SOLE		2,364	0	0
Ampio Pharmaceuticals, Inc.	COM	03209t109	67	19,508	SH		SOLE		19,508	0	0
Anadarko Petroleum Corp	COM	032511107	1,162	14,080	SH		SOLE		14,080	0	0
Analog Devices Inc.	COM	032654105	19,931	358,992	SH		SOLE		358,992	0	0
ANTHEM INC	COM	036752103	15,223	121,132	SH		SOLE		121,132	0	0
Apache Corp	COM	037411105	8,544	136,335	SH		SOLE		136,335	0	0
Apple Inc	COM	037833100	471	4,266	SH		SOLE		4,266	0	0
ARM Holdings PLC Spons ADR	COM	042068106	1,664	35,947	SH		SOLE		35,947	0	0
B C E INC NEW F	COM	05534B760	12,404	270,485	SH		SOLE		270,485	0	0
BANK MONTREAL QUE COM	COM	063671101	878	12,410	SH		SOLE		12,410	0	0
Bank of America Corp	COM	060505104	31,541	1,763,074	SH		SOLE		1,763,074	0	0
Berkshire Hathaway Inc - CL B	COM	084670702	24,722	164,649	SH		SOLE		164,649	0	0
Berkshire Hathaway Inc - CL A	COM	084670108	2,034	9	SH		SOLE		9	0	0
Borg Warner Automotive Inc.	COM	099724106	264	4,800	SH		SOLE		4,800	0	0
BP PLC - Spons ADR	COM	055622104	218	5,710	SH		SOLE		5,710	0	0
Bristol Myers Squibb Co	COM	110122108	1,356	22,963	SH		SOLE		22,963	0	0
BROOKFIELD ASSET MGMT	COM	112585104	18,204	363,144	SH		SOLE		363,144	0	0
Cabot Oil & Gas Corp	COM	127097103	15,567	525,718	SH		SOLE		525,718	0	0
CAMPBELL SOUP COMPANY	COM	134429109	255	5,785	SH		SOLE		5,785	0	0
Canadian Pacific Railway Ltd	COM	13645T100	443	2,300	SH		SOLE		2,300	0	0
Carlisle Companies	COM	142339100	933	10,344	SH		SOLE		10,344	0	0
CARNIVAL CORP	COM	143658300	14,880	328,251	SH		SOLE		328,251	0	0
Caterpillar Inc	COM	149123101	10,528	115,027	SH		SOLE		115,027	0	0
CBRE Group, Inc.	COM	12504L109	28,961	845,573	SH		SOLE		845,573	0	0
Celgene Corp	COM	151020104	133,683	1,195,088	SH		SOLE		1,195,088	0	0
Chevron Corp.	COM	166764100	1,336	11,906	SH		SOLE		11,906	0	0
CHINA FUND INC	COM	169373107	629	34,520	SH		SOLE		34,520	0	0
Cimarex Energy Corp	COM	171798101	572	5,400	SH		SOLE		5,400	0	0
Cisco Systems Inc.	COM	17275R102	13,973	502,368	SH		SOLE		502,368	0	0
Citigroup Inc	COM	172967424	18,080	334,130	SH		SOLE		334,130	0	0
Coca-Cola	COM	191216100	230	5,450	SH		SOLE		5,450	0	0
CONAGRA INCORPORATED	COM	205887102	432	11,905	SH		SOLE		11,905	0	0
Conoco Phillips	COM	20825C104	230	3,337	SH		SOLE		3,337	0	0
Continental Resources, Inc.	COM	212015101	13,378	348,738	SH		SOLE		348,738	0	0
Crescent Point Energy Tr CD	COM	22576c101	1,131	48,850	SH		SOLE		48,850	0	0
Cummins, Inc.	COM	231021106	18,013	124,944	SH		SOLE		124,944	0	0
Dover Corp	COM	260003108	396	5,521	SH		SOLE		5,521	0	0
Du Pont (E.I.) de Nemours	COM	263534109	15,826	214,040	SH		SOLE		214,040	0	0
Eaton Corporation	COM	g29183103	15,031	221,177	SH		SOLE		221,177	0	0
Eli Lilly	COM	532457108	460	6,668	SH		SOLE		6,668	0	0
Emerson Electric Co	COM	291011104	11,698	189,497	SH		SOLE		189,497	0	0
Energy Transfer Equity LP	COM	29273v100	11,087	451,440	SH		SOLE		451,440	0	0
ENERGY TRANSFER PARTNERS LP UN	COM	29273R109	351	5,394	SH		SOLE		5,394	0	0
Enterprise Products Partners LP	COM	293792107	9,424	260,920	SH		SOLE		260,920	0	0
EQT Corporation	COM	26884L109	13,963	184,448	SH		SOLE		184,448	0	0
Exxon Mobil Corp	COM	30231G102	3,894	42,121	SH		SOLE		42,121	0	0
FREEPORT MCMORAN COPPER	COM	35671D857	220	9,414	SH		SOLE		9,414	0	0
FRONTLINE LTD SHS	COM	G3682E127	53	21,000	SH		SOLE		21,000	0	0
GAP INC DEL	COM	364760108	10,969	260,475	SH		SOLE		260,475	0	0
General Mills	COM	370334104	219	4,100	SH		SOLE		4,100	0	0
General Motors	COM	37045v100	21,241	608,451	SH		SOLE		608,451	0	0
Google Inc. Class A	COM	38259p508	1,158	2,182	SH		SOLE		2,182	0	0
Google Inc. Class C	COM	38259p706	7,517	14,280	SH		SOLE		14,280	0	0
Harman International Industries	COM	413086109	12,947	121,325	SH		SOLE		121,325	0	0
Henry Schein Inc.	COM	806407102	440	3,229	SH		SOLE		3,229	0	0
Hershey Foods Corp.	COM	427866108	611	5,875	SH		SOLE		5,875	0	0
Home Depot Inc	COM	437076102	436	4,155	SH		SOLE		4,155	0	0
IBM Corp	COM	459200101	715	4,458	SH		SOLE		4,458	0	0
IDEXX Laboratories	COM	45168D104	2,285	15,410	SH		SOLE		15,410	0	0
ILLUMINA INC COM	COM	452327109	221	1,200	SH		SOLE		1,200	0	0
INCYTE CORPORATION	COM	45337C102	731	10,000	SH		SOLE		10,000	0	0
ISHARES MSCI ACWI ETF	COM	464288257	2,945	50,340	SH		SOLE		50,340	0	0
IShares Silver Trust	COM	46428q109	284	18,847	SH		SOLE		18,847	0	0
ISHARES TR BARCLAYS 1-3 YEAR C	COM	464288646	1,510	14,353	SH		SOLE		14,353	0	0
J.P. Morgan Chase & Co	COM	46625H100	504	8,061	SH		SOLE		8,061	0	0
Johnson & Johnson	COM	478160104	1,105	10,568	SH		SOLE		10,568	0	0
JOY GLOBAL INC	COM	481165108	8,545	183,684	SH		SOLE		183,684	0	0
Kimberly-Clark Corp.	COM	494368103	967	8,366	SH		SOLE		8,366	0	0
Kinder Morgan Inc	COM	49456b101	410	9,681	SH		SOLE		9,681	0	0
KRAFT FOODS GROUP	COM	50076Q106	226	3,601	SH		SOLE		3,601	0	0
Liberty Interactive Corporation	COM	53071M104	246	8,346	SH		SOLE		8,346	0	0
Lockheed Martin Corp.	COM	539830109	490	2,545	SH		SOLE		2,545	0	0
Lowe's Companies	COM	548661107	24,974	362,997	SH		SOLE		362,997	0	0
Lyondell Bassell Industries	COM	N53745100	12,232	154,074	SH		SOLE		154,074	0	0
Magellan Midstream Partners LP	COM	559080106	2,015	24,380	SH		SOLE		24,380	0	0
Markwest Energy Partners LP	COM	570759100	16,048	238,848	SH		SOLE		238,848	0	0
Marsh & McLennan Cos	COM	571748102	324	5,667	SH		SOLE		5,667	0	0
MasterCard Inc. Class A	COM	57636q104	49,499	574,503	SH		SOLE		574,503	0	0
MATTEL INC	COM	577081102	8,597	277,805	SH		SOLE		277,805	0	0
MEDTRONIC INC	COM	585055106	27,456	380,277	SH		SOLE		380,277	0	0
Merck & Co.	COM	58933y105	382	6,733	SH		SOLE		6,733	0	0
Mondelez International Inc.	COM	609207105	330	9,085	SH		SOLE		9,085	0	0
Nordstrom Inc.	COM	655664100	14,716	185,364	SH		SOLE		185,364	0	0
Norfolk Southern Corp	COM	655844108	836	7,628	SH		SOLE		7,628	0	0
NOVAGOLD RES INC NEW F	COM	66987E206	68	23,000	SH		SOLE		23,000	0	0
NuStar Energy LP	COM	67058h102	318	5,500	SH		SOLE		5,500	0	0
Nustar Holdings LLC	COM	67059l102	551	16,000	SH		SOLE		16,000	0	0
Omega Healthcare Investors, Inc.	COM	681936100	1,735	44,400	SH		SOLE		44,400	0	0
Oracle Corp	COM	68389X105	32,265	717,489	SH		SOLE		717,489	0	0
Pembina Pipeline Corp	COM	706327103	364	10,000	SH		SOLE		10,000	0	0
Pepsico Inc	COM	713448108	419	4,435	SH		SOLE		4,435	0	0
Philip Morris International	COM	718172109	236	2,902	SH		SOLE		2,902	0	0
Phillips 66	COM	718546104	22,894	319,299	SH		SOLE		319,299	0	0
Pioneer Natural Resources	COM	723787107	5,000	33,594	SH		SOLE		33,594	0	0
Plains All American Pipeline LP	COM	726503105	7,051	137,402	SH		SOLE		137,402	0	0
Potash Corporation of Saskatchewan	COM	73755l107	22,218	629,037	SH		SOLE		629,037	0	0
POWERSHARES ETF CHINESE YUAN D	COM	73937B753	4,253	174,940	SH		SOLE		174,940	0	0
Praxair Inc.	COM	74005P104	281	2,172	SH		SOLE		2,172	0	0
Procter & Gamble Co	COM	742718109	745	8,184	SH		SOLE		8,184	0	0
Qualcomm, Inc.	COM	747525103	11,788	158,595	SH		SOLE		158,595	0	0
Quidel Corp	COM	74838J101	20,928	723,648	SH		SOLE		723,648	0	0
REYNOLDS AMERICAN INC COM	COM	761713106	1,097	17,071	SH		SOLE		17,071	0	0
Rockwell Collins Inc	COM	774341101	253	3,000	SH		SOLE		3,000	0	0
Royal Dutch Shell PLC -ADR A	COM	780259206	760	11,347	SH		SOLE		11,347	0	0
Southern Co.	COM	842587107	329	6,705	SH		SOLE		6,705	0	0
SPDR GOLD TRUST	COM	78463V107	20,936	184,327	SH		SOLE		184,327	0	0
SPDR INTL INFLATION GOVT ETF	COM	78464A490	7,772	136,478	SH		SOLE		136,478	0	0
SPDR SERIES TRUST KBW REGL BKG	COM	78464A698	24,766	608,507	SH		SOLE		608,507	0	0
SPDR Trust Series 1 FD	COM	78462F103	587	2,856	SH		SOLE		2,856	0	0
Starwood Hotels & Resorts Worldwide	COM	85590a401	20,093	247,845	SH		SOLE		247,845	0	0
STATOIL ASA	COM	85771P102	664	37,690	SH		SOLE		37,690	0	0
Stericycle Inc	COM	858912108	504	3,846	SH		SOLE		3,846	0	0
Stryker Corp.	COM	863667101	212	2,250	SH		SOLE		2,250	0	0
TC PIPELINES LP	COM	87233Q108	241	3,380	SH		SOLE		3,380	0	0
TECO ENERGY INC	COM	872375100	291	14,225	SH		SOLE		14,225	0	0
Teekay Offshore Partnership	COM	y8565j101	1,384	51,664	SH		SOLE		51,664	0	0
Teva Pharmaceuticals Inc. ADR	COM	881624209	23,317	405,436	SH		SOLE		405,436	0	0
3M Co	COM	88579Y101	373	2,271	SH		SOLE		2,271	0	0
Transmontaigne Partners LP	COM	89376V100	850	26,964	SH		SOLE		26,964	0	0
Union Pacific Corp	COM	907818108	452	3,794	SH		SOLE		3,794	0	0
United Parcel Service Cl B	COM	911312106	356	3,205	SH		SOLE		3,205	0	0
United Technologies Corp	COM	913017109	744	6,473	SH		SOLE		6,473	0	0
UNITEDHEALTH GROUP INC COM	COM	91324P102	33,257	328,986	SH		SOLE		328,986	0	0
US Bancorp	COM	902973304	876	19,487	SH		SOLE		19,487	0	0
VENTAS INC COM	COM	92276F100	14,105	196,720	SH		SOLE		196,720	0	0
Visa Inc-Class A	COM	92826c839	540	2,060	SH		SOLE		2,060	0	0
Walt Disney Co	COM	254687106	15,463	164,168	SH		SOLE		164,168	0	0
Wells Fargo & Co	COM	949746101	23,008	419,709	SH		SOLE		419,709	0	0
XCEL ENERGY INC	COM	98389B100	266	7,400	SH		SOLE		7,400	0	0
YAHOO! INC	COM	984332106	7,911	156,616	SH		SOLE		156,616	0	0