Baker Ellis Asset Management 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

OMB APPROVAL

OMB Number:		3235-0006
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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
3m Company	COMMON STOCK	88579Y101	379	3,175	SH		SOLE	NONE	3,175	0	0
Abbott Laboratories	COMMON STOCK	002824100	1,503	45,295	SH		SOLE	NONE	45,295	0	0
AbbVie Inc.	COMMON STOCK	00287Y109	1,717	38,392	SH		SOLE	NONE	38,392	0	0
Aberdeen Asia-Pacific Income F	ETF/ETN	003009107	450	74,337	SH		SOLE	NONE	74,337	0	0
ABM Industries	COMMON STOCK	000957100	152	5,700	SH		SOLE	NONE	5,700	0	0
Accenture	COMMON STOCK	G1151C101	170	2,313	SH		SOLE	NONE	2,313	0	0
Aetna Inc	COMMON STOCK	00817Y108	301	4,700	SH		SOLE	NONE	4,700	0	0
AGL Resources New	COMMON STOCK	654086107	898	19,509	SH		SOLE	NONE	19,509	0	0
Alaska Air Group	COMMON STOCK	011659109	470	7,500	SH		SOLE	NONE	7,500	0	0
Alexander & Baldwin	COMMON STOCK	014491104	661	18,339	SH		SOLE	NONE	18,339	0	0
Altria Group	COMMON STOCK	718154107	128	3,739	SH		SOLE	NONE	3,739	0	0
American Express	COMMON STOCK	025816109	1,056	13,987	SH		SOLE	NONE	13,987	0	0
AmerisourceBergen Corp	COMMON STOCK	03073E105	3,543	57,981	SH		SOLE	NONE	57,981	0	0
Amgen Inc	COMMON STOCK	031162100	134	1,200	SH		SOLE	NONE	1,200	0	0
Anadarko Pete Corp	COMMON STOCK	032511107	328	3,525	SH		SOLE	NONE	3,525	0	0
Anheuser Busch Cos	COMMON STOCK	035229103	114	1,150	SH		SOLE	NONE	1,150	0	0
Apollo Commercial Real Estate	REIT	03762U105	818	53,550	SH		SOLE	NONE	53,550	0	0
Archer Daniels Midland	COMMON STOCK	039483102	384	10,425	SH		SOLE	NONE	10,425	0	0
Ares Cap Corp 7% Pfd.	PREFERRED STOCK	04010L509	189	7,300	SH		SOLE	NONE	7,300	0	0
AT&T	COMMON STOCK	00206R102	307	9,063	SH		SOLE	NONE	9,063	0	0
Automatic Data Processing	COMMON STOCK	053015103	800	11,050	SH		SOLE	NONE	11,050	0	0
Ball Corp	COMMON STOCK	058498106	1,698	37,823	SH		SOLE	NONE	37,823	0	0
Bank of America	COMMON STOCK	060505104	170	12,318	SH		SOLE	NONE	12,318	0	0
Bank of New York Mellon	COMMON STOCK	064058100	1,288	42,652	SH		SOLE	NONE	42,652	0	0
Bank of Nova Scotia	COMMON STOCK	064149107	1,258	21,958	SH		SOLE	NONE	21,958	0	0
Baxter International	COMMON STOCK	071813109	184	2,800	SH		SOLE	NONE	2,800	0	0
BCE	COMMON STOCK	05534B760	196	4,600	SH		SOLE	NONE	4,600	0	0
Berkshire Hathaway Cl A	COMMON STOCK	084670108	3,067	18	SH		SOLE	NONE	18	0	0
Berkshire Hathaway Cl B	COMMON STOCK	084670702	6,498	57,246	SH		SOLE	NONE	57,246	0	0
Boeing	COMMON STOCK	097023105	351	2,987	SH		SOLE	NONE	2,987	0	0
BP p.l.c.	COMMON STOCK	055622104	458	10,900	SH		SOLE	NONE	10,900	0	0
Bristol Myers Squibb	COMMON STOCK	110122108	1,568	33,877	SH		SOLE	NONE	33,877	0	0
Broadridge Financial Solutions	COMMON STOCK	11133T103	206	6,500	SH		SOLE	NONE	6,500	0	0
Campbell Soup Company	COMMON STOCK	134429109	374	9,182	SH		SOLE	NONE	9,182	0	0
Canadian Currency Tst	ETF/ETN	23129X105	246	2,550	SH		SOLE	NONE	2,550	0	0
Canadian Natl Ry Co	COMMON STOCK	136375102	280	2,766	SH		SOLE	NONE	2,766	0	0
Canadian Pacific Railway	COMMON STOCK	13645T100	189	1,529	SH		SOLE	NONE	1,529	0	0
Carriage Services Inc	COMMON STOCK	143905107	166	8,550	SH		SOLE	NONE	8,550	0	0
Caterpillar	COMMON STOCK	149123101	247	2,965	SH		SOLE	NONE	2,965	0	0
CBL & Associates Pptys.	COMMON STOCK	124830100	327	17,100	SH		SOLE	NONE	17,100	0	0
Cenovus Energy Inc Com Npv	COMMON STOCK	15135U109	502	16,817	SH		SOLE	NONE	16,817	0	0
Central Fund of Canada Ltd.	ETF/ETN	153501101	301	20,500	SH		SOLE	NONE	20,500	0	0
ChevronTexaco	COMMON STOCK	166764100	2,000	16,463	SH		SOLE	NONE	16,463	0	0
Clorox Co Del	COMMON STOCK	189054109	748	9,151	SH		SOLE	NONE	9,151	0	0
Coca Cola Enterprises Inc	COMMON STOCK	191219104	432	10,750	SH		SOLE	NONE	10,750	0	0
Coca-Cola Bottling	COMMON STOCK	191098102	192	3,075	SH		SOLE	NONE	3,075	0	0
Coca-Cola Company	COMMON STOCK	191216100	959	25,307	SH		SOLE	NONE	25,307	0	0
Comcast Corporation	COMMON STOCK	20030N101	978	21,681	SH		SOLE	NONE	21,681	0	0
Conoco Phillips	COMMON STOCK	718507106	184	2,640	SH		SOLE	NONE	2,640	0	0
Cooper International Corp.	COMMON STOCK	216640102	346	5,931	SH		SOLE	NONE	5,931	0	0
Corning Inc	COMMON STOCK	219350105	235	16,100	SH		SOLE	NONE	16,100	0	0
Costco Wholesale	COMMON STOCK	22160K105	882	7,657	SH		SOLE	NONE	7,657	0	0
Deere & Company	COMMON STOCK	244199105	661	8,126	SH		SOLE	NONE	8,126	0	0
Devon Energy Corp	COMMON STOCK	25179M103	130	2,250	SH		SOLE	NONE	2,250	0	0
Diageo Plc	COMMON STOCK	25243Q205	163	1,285	SH		SOLE	NONE	1,285	0	0
Dominion Resources	COMMON STOCK	25746U109	729	11,662	SH		SOLE	NONE	11,662	0	0
Dover Corp	COMMON STOCK	260003108	472	5,250	SH		SOLE	NONE	5,250	0	0
Du Pont	COMMON STOCK	263534109	2,021	34,520	SH		SOLE	NONE	34,520	0	0
Duke Energy	COMMON STOCK	264399106	188	2,814	SH		SOLE	NONE	2,814	0	0
Einstein Noah Restaurant	COMMON STOCK	28257U104	373	21,550	SH		SOLE	NONE	21,550	0	0
Enbridge Inc	COMMON STOCK	29250N105	179	4,300	SH		SOLE	NONE	4,300	0	0
Encana	COMMON STOCK	292505104	238	13,762	SH		SOLE	NONE	13,762	0	0
Ensco PLC	COMMON STOCK	G3157S106	2,462	45,805	SH		SOLE	NONE	45,805	0	0
Era Group Inc.	COMMON STOCK	26885G109	314	11,571	SH		SOLE	NONE	11,571	0	0
ETFS Physical Platinum Shares	ETF/ETN	26922V101	302	2,200	SH		SOLE	NONE	2,200	0	0
Exelis Inc	COMMON STOCK	30162A108	403	25,658	SH		SOLE	NONE	25,658	0	0
Exxon Mobil	COMMON STOCK	30231G102	1,571	18,255	SH		SOLE	NONE	18,255	0	0
Facebook Inc	COMMON STOCK	30303M102	191	3,800	SH		SOLE	NONE	3,800	0	0
Fedex Corp	COMMON STOCK	31428X106	542	4,752	SH		SOLE	NONE	4,752	0	0
Fiserv Inc	COMMON STOCK	337733108	202	2,000	SH		SOLE	NONE	2,000	0	0
Fomento Economico Mexicano	COMMON STOCK	344419106	2,591	26,685	SH		SOLE	NONE	26,685	0	0
Ford Motor	COMMON STOCK	345370860	451	26,731	SH		SOLE	NONE	26,731	0	0
Fourstar Group	COMMON STOCK	346233109	325	15,100	SH		SOLE	NONE	15,100	0	0
Fresh Del Monte Produce	COMMON STOCK	G36738105	2,305	77,670	SH		SOLE	NONE	77,670	0	0
General Electric	COMMON STOCK	369604103	352	14,750	SH		SOLE	NONE	14,750	0	0
General Mills	COMMON STOCK	370334104	6,165	128,654	SH		SOLE	NONE	128,654	0	0
General Motors	COMMON STOCK	37045V100	1,098	30,533	SH		SOLE	NONE	30,533	0	0
Genuine Parts	COMMON STOCK	372460105	1,395	17,242	SH		SOLE	NONE	17,242	0	0
GlaxoSmithKline Plc Adr	COMMON STOCK	37733W105	151	3,000	SH		SOLE	NONE	3,000	0	0
Gold Miners ETF	ETF/ETN	57060U100	181	7,215	SH		SOLE	NONE	7,215	0	0
Google Inc	COMMON STOCK	38259P508	542	619	SH		SOLE	NONE	619	0	0
Halliburton	COMMON STOCK	406216101	113	2,350	SH		SOLE	NONE	2,350	0	0
Hasbro	COMMON STOCK	418056107	191	4,058	SH		SOLE	NONE	4,058	0	0
Health Care Property	COMMON STOCK	40414L109	162	3,947	SH		SOLE	NONE	3,947	0	0
Helmerich & Payne	COMMON STOCK	423452101	683	9,900	SH		SOLE	NONE	9,900	0	0
Hershey Co	COMMON STOCK	427866108	278	3,000	SH		SOLE	NONE	3,000	0	0
Home Depot	COMMON STOCK	437076102	618	8,146	SH		SOLE	NONE	8,146	0	0
Honda Motors	COMMON STOCK	438128308	1,086	28,485	SH		SOLE	NONE	28,485	0	0
Honeywell Intl.	COMMON STOCK	438516106	1,002	12,070	SH		SOLE	NONE	12,070	0	0
Hospira Inc	COMMON STOCK	441060100	133	3,400	SH		SOLE	NONE	3,400	0	0
Hubbell Inc Cl A	COMMON STOCK	443510102	377	4,000	SH		SOLE	NONE	4,000	0	0
Humana Inc.	COMMON STOCK	444859102	503	5,390	SH		SOLE	NONE	5,390	0	0
Imperial Oil Ltd.	COMMON STOCK	453038408	1,922	43,728	SH		SOLE	NONE	43,728	0	0
Ingersoll-Rand Plc Shs	COMMON STOCK	G47791101	334	5,150	SH		SOLE	NONE	5,150	0	0
Ingles Mkts Inc Cl A	COMMON STOCK	457030104	2,075	72,237	SH		SOLE	NONE	72,237	0	0
Ingram Micro Inc	COMMON STOCK	457153104	364	15,800	SH		SOLE	NONE	15,800	0	0
International Business Machine	COMMON STOCK	459200101	614	3,315	SH		SOLE	NONE	3,315	0	0
Intl Paper Co	COMMON STOCK	460146103	3,267	72,928	SH		SOLE	NONE	72,928	0	0
Investors Title	COMMON STOCK	461804106	759	10,100	SH		SOLE	NONE	10,100	0	0
iShares DJ US Oil Equip & Svcs	ETF/ETN	464288844	475	7,590	SH		SOLE	NONE	7,590	0	0
Ishares Global Telecom Fd	ETF/ETN	464287275	1,662	25,899	SH		SOLE	NONE	25,899	0	0
iShares Gold Trust	ETF/ETN	464285105	258	20,000	SH		SOLE	NONE	20,000	0	0
Ishares Hong Kong Index Fd	ETF/ETN	464286871	400	19,950	SH		SOLE	NONE	19,950	0	0
Ishares Inc Msci Switzerland I	ETF/ETN	464286749	119	3,800	SH		SOLE	NONE	3,800	0	0
Ishares Msci Germany Index Fd	ETF/ETN	464286806	249	8,936	SH		SOLE	NONE	8,936	0	0
iShares MSCI South Korea Index	ETF/ETN	464286772	329	5,350	SH		SOLE	NONE	5,350	0	0
Ishares Singapore Index Fd	ETF/ETN	464286673	5,956	446,161	SH		SOLE	NONE	446,161	0	0
Ishares Taiwan Index Fd	ETF/ETN	464286731	242	17,351	SH		SOLE	NONE	17,351	0	0
ITT Corporation	COMMON STOCK	450911102	1,741	48,421	SH		SOLE	NONE	48,421	0	0
J P Morgan Chase	COMMON STOCK	46625H100	392	7,584	SH		SOLE	NONE	7,584	0	0
JM Smucker	COMMON STOCK	832696405	1,929	18,367	SH		SOLE	NONE	18,367	0	0
John Bean Technologies	COMMON STOCK	477839104	1,845	74,140	SH		SOLE	NONE	74,140	0	0
Johnson & Johnson	COMMON STOCK	478160104	2,328	26,853	SH		SOLE	NONE	26,853	0	0
Kellogg	COMMON STOCK	487836108	264	4,500	SH		SOLE	NONE	4,500	0	0
Kimberly Clark	COMMON STOCK	494368103	1,540	16,347	SH		SOLE	NONE	16,347	0	0
Kraft Foods Group	COMMON STOCK	50076Q106	177	3,367	SH		SOLE	NONE	3,367	0	0
Kroger	COMMON STOCK	501044101	6,914	171,395	SH		SOLE	NONE	171,395	0	0
Laboratory Corp of America Hol	COMMON STOCK	50540R409	377	3,800	SH		SOLE	NONE	3,800	0	0
Liberty Global Inc.	COMMON STOCK	G5480U104	345	4,350	SH		SOLE	NONE	4,350	0	0
Macy's Inc	COMMON STOCK	55616P104	130	3,000	SH		SOLE	NONE	3,000	0	0
Marathon Oil Corp	COMMON STOCK	565849106	471	13,500	SH		SOLE	NONE	13,500	0	0
Marathon Petroleum Corp	COMMON STOCK	56585A102	450	7,000	SH		SOLE	NONE	7,000	0	0
Marcus Corp	COMMON STOCK	566330106	421	28,950	SH		SOLE	NONE	28,950	0	0
MartenTransport Ltd.	COMMON STOCK	573075108	378	22,040	SH		SOLE	NONE	22,040	0	0
Matson Navigation Co.	COMMON STOCK	57686G105	930	35,473	SH		SOLE	NONE	35,473	0	0
Maxus Realty Trust	REIT	57774B109	110	4,067	SH		SOLE	NONE	4,067	0	0
McDonalds	COMMON STOCK	580135101	126	1,309	SH		SOLE	NONE	1,309	0	0
MDU Resources Group Inc.	COMMON STOCK	552690109	468	16,715	SH		SOLE	NONE	16,715	0	0
Merck & Co Inc	COMMON STOCK	58933Y105	1,664	34,955	SH		SOLE	NONE	34,955	0	0
MFRI Inc.	COMMON STOCK	552721102	584	51,168	SH		SOLE	NONE	51,168	0	0
Microsoft	COMMON STOCK	594918104	2,653	79,727	SH		SOLE	NONE	79,727	0	0
Mine Safety Appliances	COMMON STOCK	602720104	364	7,050	SH		SOLE	NONE	7,050	0	0
Molson Coors Co Cl B	COMMON STOCK	60871R209	851	16,971	SH		SOLE	NONE	16,971	0	0
Mondelez International Inc.	COMMON STOCK	609207105	349	11,108	SH		SOLE	NONE	11,108	0	0
Multi Color Corp.	COMMON STOCK	625383104	1,103	32,512	SH		SOLE	NONE	32,512	0	0
Nash Finch Co	COMMON STOCK	631158102	532	20,125	SH		SOLE	NONE	20,125	0	0
National Health Investors	COMMON STOCK	63633D104	114	2,000	SH		SOLE	NONE	2,000	0	0
National Oilwell	COMMON STOCK	637071101	461	5,900	SH		SOLE	NONE	5,900	0	0
NBT Bancorp Inc	COMMON STOCK	628778102	322	14,000	SH		SOLE	NONE	14,000	0	0
NCR	COMMON STOCK	62886E108	216	5,450	SH		SOLE	NONE	5,450	0	0
New York Times	COMMON STOCK	650111107	582	46,330	SH		SOLE	NONE	46,330	0	0
Newcastle Invt Corp	COMMON STOCK	65105M108	101	18,000	SH		SOLE	NONE	18,000	0	0
NextEra Energy Inc New	COMMON STOCK	65339F101	176	2,200	SH		SOLE	NONE	2,200	0	0
Nike Cl B	COMMON STOCK	654106103	1,421	19,565	SH		SOLE	NONE	19,565	0	0
Norfolk Southern Crp	COMMON STOCK	655844108	308	3,980	SH		SOLE	NONE	3,980	0	0
Northeast Utilities	COMMON STOCK	664397106	1,112	26,955	SH		SOLE	NONE	26,955	0	0
Northrop Grumman Corp.	COMMON STOCK	666807102	2,742	28,785	SH		SOLE	NONE	28,785	0	0
Northwest Natural Gas	COMMON STOCK	667655104	456	10,857	SH		SOLE	NONE	10,857	0	0
Northwest Pipe	COMMON STOCK	667746101	744	22,640	SH		SOLE	NONE	22,640	0	0
Novartis AG Adr	COMMON STOCK	66987V109	3,789	49,391	SH		SOLE	NONE	49,391	0	0
NTT Docomo Inc. ADR	COMMON STOCK	62942M201	120	7,400	SH		SOLE	NONE	7,400	0	0
Oneok Inc	COMMON STOCK	682680103	240	4,500	SH		SOLE	NONE	4,500	0	0
Paccar Inc	COMMON STOCK	693718108	167	3,000	SH		SOLE	NONE	3,000	0	0
Park City Group Inc.	COMMON STOCK	700215304	161	18,450	SH		SOLE	NONE	18,450	0	0
Parkervision Inc	COMMON STOCK	701354102	103	30,800	SH		SOLE	NONE	30,800	0	0
Pebblebrook Hotel Pfd Ser B	PREFERRED STOCK	70509V308	360	13,950	SH		SOLE	NONE	13,950	0	0
Pepco Holdings	COMMON STOCK	713291102	212	11,505	SH		SOLE	NONE	11,505	0	0
Pepsico	COMMON STOCK	713448108	3,347	42,106	SH		SOLE	NONE	42,106	0	0
Petroleo Brasileiro	COMMON STOCK	71654V408	144	9,300	SH		SOLE	NONE	9,300	0	0
Petroleo Brasileiro Cl A	COMMON STOCK	71654V101	128	7,626	SH		SOLE	NONE	7,626	0	0
Pfizer	COMMON STOCK	717081103	1,235	43,007	SH		SOLE	NONE	43,007	0	0
Philip Morris Intl	COMMON STOCK	718172109	156	1,799	SH		SOLE	NONE	1,799	0	0
Pimco ETF Short Maturity Str	ETF/ETN	72201R833	3,219	31,744	SH		SOLE	NONE	31,744	0	0
Pimco Total Return ETF	ETF/ETN	72201R775	1,269	11,988	SH		SOLE	NONE	11,988	0	0
Portland Gen Elec Co	COMMON STOCK	736508847	367	13,000	SH		SOLE	NONE	13,000	0	0
Potlatch Corp	COMMON STOCK	737630103	389	9,801	SH		SOLE	NONE	9,801	0	0
Powershares Ftse Rafi US1000	ETF/ETN	73935X583	2,344	31,048	SH		SOLE	NONE	31,048	0	0
Powershares High Yld Corp Bond	ETF/ETN	73936T557	911	48,431	SH		SOLE	NONE	48,431	0	0
PPL Corp	COMMON STOCK	69351T106	1,152	37,920	SH		SOLE	NONE	37,920	0	0
Precision Castparts	COMMON STOCK	740189105	400	1,762	SH		SOLE	NONE	1,762	0	0
Procter & Gamble	COMMON STOCK	742718109	1,032	13,648	SH		SOLE	NONE	13,648	0	0
Rayonier	COMMON STOCK	754907103	4,087	73,445	SH		SOLE	NONE	73,445	0	0
Raytheon	COMMON STOCK	755111507	517	6,709	SH		SOLE	NONE	6,709	0	0
Republic Services	COMMON STOCK	760759100	1,309	39,227	SH		SOLE	NONE	39,227	0	0
Royal Dutch Shell Cl A	COMMON STOCK	780259206	129	1,964	SH		SOLE	NONE	1,964	0	0
Royal Dutch Shell Cl B	COMMON STOCK	780259107	1,226	17,805	SH		SOLE	NONE	17,805	0	0
Rush Enterprises Cl B	COMMON STOCK	781846308	319	13,999	SH		SOLE	NONE	13,999	0	0
S & P 500 Index Fund	ETF/ETN	78462F103	835	4,972	SH		SOLE	NONE	4,972	0	0
Scana Corp New	COMMON STOCK	80589M102	520	11,285	SH		SOLE	NONE	11,285	0	0
Schlumberger Limited	COMMON STOCK	806857108	248	2,803	SH		SOLE	NONE	2,803	0	0
Seaboard Corp	COMMON STOCK	811543107	434	158	SH		SOLE	NONE	158	0	0
Seacorp Hldgs Inc	COMMON STOCK	811904101	1,008	11,146	SH		SOLE	NONE	11,146	0	0
SM Energy Corp	COMMON STOCK	792228108	228	2,950	SH		SOLE	NONE	2,950	0	0
Sonoco Products	COMMON STOCK	835495102	1,418	36,421	SH		SOLE	NONE	36,421	0	0
Southern Co	COMMON STOCK	842587107	281	6,812	SH		SOLE	NONE	6,812	0	0
SPDR S&P Dividend	ETF/ETN	78464A763	101	1,460	SH		SOLE	NONE	1,460	0	0
Starbucks	COMMON STOCK	855244109	787	10,230	SH		SOLE	NONE	10,230	0	0
Statoil Hydro Asa Adr	COMMON STOCK	85771P102	193	8,500	SH		SOLE	NONE	8,500	0	0
Streettracks Gold Shrs	ETF/ETN	78463V107	2,453	19,137	SH		SOLE	NONE	19,137	0	0
Stryker Corp	COMMON STOCK	863667101	1,533	22,686	SH		SOLE	NONE	22,686	0	0
Syngenta AG	COMMON STOCK	87160A100	4,719	58,040	SH		SOLE	NONE	58,040	0	0
Texas Instruments	COMMON STOCK	882508104	242	6,000	SH		SOLE	NONE	6,000	0	0
Timken Co	COMMON STOCK	887389104	393	6,504	SH		SOLE	NONE	6,504	0	0
Toronto Dominion Bk	COMMON STOCK	891160509	110	1,225	SH		SOLE	NONE	1,225	0	0
Travelers Cos Inc	COMMON STOCK	89417E109	190	2,245	SH		SOLE	NONE	2,245	0	0
Trustco Bk Corp Ny	COMMON STOCK	898349105	149	25,000	SH		SOLE	NONE	25,000	0	0
TRW Automotive Hldgs Corp.	COMMON STOCK	87264S106	446	6,260	SH		SOLE	NONE	6,260	0	0
Twenty-First Century Fox, Cl B	COMMON STOCK	90130A200	778	23,300	SH		SOLE	NONE	23,300	0	0
UGI Corp	COMMON STOCK	902681105	1,101	28,132	SH		SOLE	NONE	28,132	0	0
Unilever PLC	COMMON STOCK	904767704	651	16,879	SH		SOLE	NONE	16,879	0	0
Union Pacific	COMMON STOCK	907818108	4,858	31,271	SH		SOLE	NONE	31,271	0	0
United Parcel Svc	COMMON STOCK	911312106	1,408	15,411	SH		SOLE	NONE	15,411	0	0
United Technologies	COMMON STOCK	913017109	2,313	21,455	SH		SOLE	NONE	21,455	0	0
Unitedhealth Group	COMMON STOCK	91324P102	236	3,290	SH		SOLE	NONE	3,290	0	0
URS Corporation	COMMON STOCK	903236107	784	14,585	SH		SOLE	NONE	14,585	0	0
Urstadt Biddle Ppty Pfd D	PREFERRED STOCK	917286502	278	11,035	SH		SOLE	NONE	11,035	0	0
Urstadt Biddle Pptys	COMMON STOCK	917286106	1,161	67,572	SH		SOLE	NONE	67,572	0	0
Urstadt Biddle Pptys Inc Cl A	COMMON STOCK	917286205	1,470	73,939	SH		SOLE	NONE	73,939	0	0
Urstadt Biddle Pptys Inc Pfd S	PREFERRED STOCK	917286700	467	19,500	SH		SOLE	NONE	19,500	0	0
US Bancorp	COMMON STOCK	902973304	3,624	99,066	SH		SOLE	NONE	99,066	0	0
V F Corp	COMMON STOCK	918204108	318	1,600	SH		SOLE	NONE	1,600	0	0
Vanguard Energy ETF	ETF/ETN	92204A306	8,687	72,807	SH		SOLE	NONE	72,807	0	0
Vanguard European ETF	ETF/ETN	922042874	235	4,309	SH		SOLE	NONE	4,309	0	0
Vanguard Extended Mkt ETF	ETF/ETN	922908652	2,915	37,795	SH		SOLE	NONE	37,795	0	0
Vanguard FTSE All World exUS E	ETF/ETN	922042775	241	4,961	SH		SOLE	NONE	4,961	0	0
Vanguard Health Care ETF	ETF/ETN	92204A504	1,043	11,200	SH		SOLE	NONE	11,200	0	0
Vanguard Industrials ETF	ETF/ETN	92204A603	107	1,200	SH		SOLE	NONE	1,200	0	0
Vanguard Sector Info Tech ETF	ETF/ETN	92204A702	5,486	67,985	SH		SOLE	NONE	67,985	0	0
Vanguard Short Term Bond ETF	ETF/ETN	921937827	338	4,200	SH		SOLE	NONE	4,200	0	0
Vanguard Small Cap Value ETF	ETF/ETN	922908611	509	5,636	SH		SOLE	NONE	5,636	0	0
Vanguard Total Stk Mkt ETF	ETF/ETN	922908769	17,075	194,809	SH		SOLE	NONE	194,809	0	0
Vanguard Total World Stk Index	ETF/ETN	922042742	2,017	36,304	SH		SOLE	NONE	36,304	0	0
Vanguard Utilities ETF	ETF/ETN	92204A876	1,816	22,248	SH		SOLE	NONE	22,248	0	0
Vanguard Whitehall Fds High D	ETF/ETN	921946406	11,865	206,391	SH		SOLE	NONE	206,391	0	0
Vectren Corp	COMMON STOCK	92240G101	944	28,306	SH		SOLE	NONE	28,306	0	0
Verizon Communications	COMMON STOCK	92343V104	1,364	29,214	SH		SOLE	NONE	29,214	0	0
Visa Inc	COMMON STOCK	92826C839	133	698	SH		SOLE	NONE	698	0	0
Vodafone Group PLC	COMMON STOCK	92857W100	3,987	113,337	SH		SOLE	NONE	113,337	0	0
Wal-Mart Stores	COMMON STOCK	931142103	1,730	23,387	SH		SOLE	NONE	23,387	0	0
Walt Disney Co	COMMON STOCK	254687106	809	12,547	SH		SOLE	NONE	12,547	0	0
Washington Real Estate Inv Tru	REIT	939653101	348	13,785	SH		SOLE	NONE	13,785	0	0
Waste Management	COMMON STOCK	94106L109	674	16,339	SH		SOLE	NONE	16,339	0	0
Wells Fargo & Co	COMMON STOCK	949746101	436	10,560	SH		SOLE	NONE	10,560	0	0
Wendy's International	COMMON STOCK	950590109	359	42,325	SH		SOLE	NONE	42,325	0	0
Whirlpool Corp	COMMON STOCK	963320106	556	3,800	SH		SOLE	NONE	3,800	0	0
Whitestone Reit	REIT	966084204	601	40,800	SH		SOLE	NONE	40,800	0	0
Williams Cos Inc	COMMON STOCK	969457100	114	3,135	SH		SOLE	NONE	3,135	0	0
Wisdomtree Japan Hedged Equity	ETF/ETN	97717W851	1,114	23,250	SH		SOLE	NONE	23,250	0	0
Wisdomtree Tree Emerging Mkts	ETF/ETN	97717W281	2,359	50,574	SH		SOLE	NONE	50,574	0	0
Xylem Inc	COMMON STOCK	98419M100	569	20,378	SH		SOLE	NONE	20,378	0	0
Yahoo Inc	COMMON STOCK	984332106	1,131	34,090	SH		SOLE	NONE	34,090	0	0
Yum! Brands	COMMON STOCK	988498101	761	10,663	SH		SOLE	NONE	10,663	0	0
Zimmer Holdings	COMMON STOCK	98956P102	113	1,380	SH		SOLE	NONE	1,380	0	0