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	488	3,238	SH		SOLE	NONE	3,238	0	0
Abbott Laboratories	COMMON STOCK	002824100	1,788	39,807	SH		SOLE	NONE	39,807	0	0
AbbVie Inc.	COMMON STOCK	00287Y109	1,593	26,895	SH		SOLE	NONE	26,895	0	0
Aberdeen Asia-Pacific Income	ETF/ETN	003009107	122	26,600	SH		SOLE	NONE	26,600	0	0
ABM Industries	COMMON STOCK	000957100	387	13,600	SH		SOLE	NONE	13,600	0	0
Accenture	COMMON STOCK	G1151C101	200	1,917	SH		SOLE	NONE	1,917	0	0
AGL Resources	COMMON STOCK	654086107	220	3,450	SH		SOLE	NONE	3,450	0	0
Alaska Air Group	COMMON STOCK	011659109	479	5,950	SH		SOLE	NONE	5,950	0	0
Alaska Communications Systems	COMMON STOCK	01167P101	46	26,500	SH		SOLE	NONE	26,500	0	0
Alexander & Baldwin	COMMON STOCK	014491104	518	14,670	SH		SOLE	NONE	14,670	0	0
Alphabet Inc. CL A	COMMON STOCK	02079K305	1,538	1,977	SH		SOLE	NONE	1,977	0	0
Alphabet Inc. CL C	COMMON STOCK	02079K107	1,228	1,618	SH		SOLE	NONE	1,618	0	0
Altria Group	COMMON STOCK	718154107	308	5,285	SH		SOLE	NONE	5,285	0	0
Amazon.com Inc.	COMMON STOCK	023135106	703	1,040	SH		SOLE	NONE	1,040	0	0
American Airlines Group Inc.	COMMON STOCK	02376R102	442	10,430	SH		SOLE	NONE	10,430	0	0
American Express	COMMON STOCK	025816109	1,001	14,395	SH		SOLE	NONE	14,395	0	0
AmerisourceBergen Corp	COMMON STOCK	03073E105	4,644	44,781	SH		SOLE	NONE	44,781	0	0
Amgen Inc	COMMON STOCK	031162100	230	1,416	SH		SOLE	NONE	1,416	0	0
Anadarko Pete Corp	COMMON STOCK	032511107	137	2,825	SH		SOLE	NONE	2,825	0	0
Anheuser-Busch InBev	COMMON STOCK	035229103	244	1,950	SH		SOLE	NONE	1,950	0	0
Apollo Commercial Real Estate	REIT	03762U105	550	31,948	SH		SOLE	NONE	31,948	0	0
Apple Computer	COMMON STOCK	037833100	1,622	15,410	SH		SOLE	NONE	15,410	0	0
AptarGroup Inc	COMMON STOCK	038336103	109	1,500	SH		SOLE	NONE	1,500	0	0
Archer Daniels Midland	COMMON STOCK	039483102	321	8,750	SH		SOLE	NONE	8,750	0	0
Armada Hoffler Properties, Inc	REIT	04208T108	227	21,700	SH		SOLE	NONE	21,700	0	0
AT&T	COMMON STOCK	00206R102	331	9,613	SH		SOLE	NONE	9,613	0	0
Automatic Data Processing	COMMON STOCK	053015103	463	5,470	SH		SOLE	NONE	5,470	0	0
Avista Corp.	COMMON STOCK	05379B107	444	12,550	SH		SOLE	NONE	12,550	0	0
Baldwin & Lyons Inc CL B	COMMON STOCK	057755209	332	13,800	SH		SOLE	NONE	13,800	0	0
Ball Corp	COMMON STOCK	058498106	1,846	25,379	SH		SOLE	NONE	25,379	0	0
Bank of America	COMMON STOCK	060505104	212	12,600	SH		SOLE	NONE	12,600	0	0
Bank of New York Mellon	COMMON STOCK	064058100	2,008	48,706	SH		SOLE	NONE	48,706	0	0
Bank of Nova Scotia	COMMON STOCK	064149107	618	15,278	SH		SOLE	NONE	15,278	0	0
BCE	COMMON STOCK	05534B760	263	6,800	SH		SOLE	NONE	6,800	0	0
Becton Dickinson Co	COMMON STOCK	075887109	162	1,050	SH		SOLE	NONE	1,050	0	0
Berkshire Hathaway Cl A	COMMON STOCK	084670108	4,154	21	SH		SOLE	NONE	21	0	0
Berkshire Hathaway Cl B	COMMON STOCK	084670702	8,941	67,717	SH		SOLE	NONE	67,717	0	0
Boeing	COMMON STOCK	097023105	871	6,027	SH		SOLE	NONE	6,027	0	0
BP p.l.c.	COMMON STOCK	055622104	244	7,800	SH		SOLE	NONE	7,800	0	0
Bristol Myers Squibb	COMMON STOCK	110122108	2,319	33,707	SH		SOLE	NONE	33,707	0	0
Brixmor Property Group Inc.	REIT	11120U105	955	36,975	SH		SOLE	NONE	36,975	0	0
Broadridge Financial Solutions	COMMON STOCK	11133T103	269	5,000	SH		SOLE	NONE	5,000	0	0
Campbell Soup Company	COMMON STOCK	134429109	460	8,753	SH		SOLE	NONE	8,753	0	0
Canadian National Railway Co.	COMMON STOCK	136375102	305	5,450	SH		SOLE	NONE	5,450	0	0
Carriage Services	COMMON STOCK	143905107	146	6,050	SH		SOLE	NONE	6,050	0	0
Cenovus Energy Inc.	COMMON STOCK	15135U109	106	8,367	SH		SOLE	NONE	8,367	0	0
ChevronTexaco	COMMON STOCK	166764100	1,227	13,640	SH		SOLE	NONE	13,640	0	0
Cisco Systems	COMMON STOCK	17275R102	453	16,667	SH		SOLE	NONE	16,667	0	0
Clorox Company	COMMON STOCK	189054109	742	5,851	SH		SOLE	NONE	5,851	0	0
Coca Cola Enterprises Inc	COMMON STOCK	191219104	497	10,095	SH		SOLE	NONE	10,095	0	0
Coca-Cola Bottling	COMMON STOCK	191098102	123	675	SH		SOLE	NONE	675	0	0
Coca-Cola Company	COMMON STOCK	191216100	1,063	24,741	SH		SOLE	NONE	24,741	0	0
Comcast Corporation	COMMON STOCK	20030N101	1,297	22,981	SH		SOLE	NONE	22,981	0	0
Cooper International Corp.	COMMON STOCK	216640102	353	5,578	SH		SOLE	NONE	5,578	0	0
Corning Inc	COMMON STOCK	219350105	112	6,100	SH		SOLE	NONE	6,100	0	0
Costco Wholesale	COMMON STOCK	22160K105	946	5,855	SH		SOLE	NONE	5,855	0	0
Deere & Company	COMMON STOCK	244199105	402	5,276	SH		SOLE	NONE	5,276	0	0
Delta Air Lines Inc.	COMMON STOCK	247361702	253	4,985	SH		SOLE	NONE	4,985	0	0
Diageo PLC	COMMON STOCK	25243Q205	195	1,785	SH		SOLE	NONE	1,785	0	0
Dominion Resources	COMMON STOCK	25746U109	631	9,327	SH		SOLE	NONE	9,327	0	0
Du Pont	COMMON STOCK	263534109	2,271	34,096	SH		SOLE	NONE	34,096	0	0
Duke Energy	COMMON STOCK	264399106	177	2,481	SH		SOLE	NONE	2,481	0	0
Edwards Lifesciences	COMMON STOCK	28176E108	158	2,000	SH		SOLE	NONE	2,000	0	0
Equity Residential	REIT	29476L107	233	2,850	SH		SOLE	NONE	2,850	0	0
Eversource Energy	COMMON STOCK	30040W108	966	18,917	SH		SOLE	NONE	18,917	0	0
Express Scripts Holding Co.	COMMON STOCK	302182100	149	1,705	SH		SOLE	NONE	1,705	0	0
Exxon Mobil	COMMON STOCK	30231G102	1,488	19,085	SH		SOLE	NONE	19,085	0	0
Facebook Inc	COMMON STOCK	30303M102	325	3,110	SH		SOLE	NONE	3,110	0	0
Fedex Corp	COMMON STOCK	31428X106	738	4,950	SH		SOLE	NONE	4,950	0	0
Fiat Chrysler Automobiles N.V.	COMMON STOCK	N31738102	1,060	75,800	SH		SOLE	NONE	75,800	0	0
Fiserv Inc	COMMON STOCK	337733108	120	1,316	SH		SOLE	NONE	1,316	0	0
Flexshares Quality Dividend In	ETF/ETN	33939L860	325	9,320	SH		SOLE	NONE	9,320	0	0
Fomento Economico Mexicano	COMMON STOCK	344419106	2,263	24,501	SH		SOLE	NONE	24,501	0	0
Ford Motor	COMMON STOCK	345370860	410	29,100	SH		SOLE	NONE	29,100	0	0
Forestar Group Inc.	COMMON STOCK	346233109	144	13,150	SH		SOLE	NONE	13,150	0	0
Fresh Del Monte Produce	COMMON STOCK	G36738105	2,738	70,426	SH		SOLE	NONE	70,426	0	0
General American Investors Co.	COMMON STOCK	368802104	176	5,497	SH		SOLE	NONE	5,497	0	0
General Electric	COMMON STOCK	369604103	510	16,358	SH		SOLE	NONE	16,358	0	0
General Mills	COMMON STOCK	370334104	5,835	101,190	SH		SOLE	NONE	101,190	0	0
General Motors	COMMON STOCK	37045V100	315	9,250	SH		SOLE	NONE	9,250	0	0
Genuine Parts	COMMON STOCK	372460105	1,248	14,533	SH		SOLE	NONE	14,533	0	0
GlaxoSmithKline Plc Adr	COMMON STOCK	37733W105	121	3,000	SH		SOLE	NONE	3,000	0	0
Harris Corp.	COMMON STOCK	413875105	107	1,236	SH		SOLE	NONE	1,236	0	0
Hasbro	COMMON STOCK	418056107	222	3,300	SH		SOLE	NONE	3,300	0	0
Health Care Property	COMMON STOCK	40414L109	128	3,347	SH		SOLE	NONE	3,347	0	0
Helmerich & Payne	COMMON STOCK	423452101	244	4,550	SH		SOLE	NONE	4,550	0	0
Highwoods Properties Inc.	REIT	431284108	641	14,700	SH		SOLE	NONE	14,700	0	0
Home Depot	COMMON STOCK	437076102	858	6,486	SH		SOLE	NONE	6,486	0	0
Honeywell Intl.	COMMON STOCK	438516106	1,913	18,475	SH		SOLE	NONE	18,475	0	0
Host Hotels & Resorts, Inc.	REIT	44107P104	300	19,525	SH		SOLE	NONE	19,525	0	0
Humana Inc.	COMMON STOCK	444859102	480	2,690	SH		SOLE	NONE	2,690	0	0
Imperial Oil Ltd.	COMMON STOCK	453038408	752	23,110	SH		SOLE	NONE	23,110	0	0
Ingles Markets, Inc.	COMMON STOCK	457030104	2,429	55,104	SH		SOLE	NONE	55,104	0	0
Ingram Micro Inc	COMMON STOCK	457153104	366	12,050	SH		SOLE	NONE	12,050	0	0
Intel	COMMON STOCK	458140100	617	17,901	SH		SOLE	NONE	17,901	0	0
Intl Paper Co.	COMMON STOCK	460146103	2,631	69,787	SH		SOLE	NONE	69,787	0	0
Investors Title	COMMON STOCK	461804106	714	7,141	SH		SOLE	NONE	7,141	0	0
iShares DJ US Oil Equip & Svcs	ETF/ETN	464288844	109	3,050	SH		SOLE	NONE	3,050	0	0
iShares Global Telecom Fd	ETF/ETN	464287275	1,236	21,373	SH		SOLE	NONE	21,373	0	0
iShares Gold Trust	ETF/ETN	464285105	205	20,000	SH		SOLE	NONE	20,000	0	0
iShares Hong Kong Index Fd	ETF/ETN	464286871	186	9,400	SH		SOLE	NONE	9,400	0	0
iShares MSCI All Country World	ETF/ETN	464286525	1,940	28,000	SH		SOLE	NONE	28,000	0	0
iShares MSCI EAFE Minimum Vola	ETF/ETN	46429B689	4,106	63,290	SH		SOLE	NONE	63,290	0	0
iShares MSCI Emerging Markets	ETF/ETN	464286533	160	3,280	SH		SOLE	NONE	3,280	0	0
iShares Russell 1000	ETF/ETN	464287622	124	1,096	SH		SOLE	NONE	1,096	0	0
iShares Russell 1000 Growth In	ETF/ETN	464287614	109	1,096	SH		SOLE	NONE	1,096	0	0
iShares Russell 1000 Value Ind	ETF/ETN	464287598	200	2,045	SH		SOLE	NONE	2,045	0	0
iShares Russell Mid-Cap Index	ETF/ETN	464287499	209	1,303	SH		SOLE	NONE	1,303	0	0
iShares Russell Midcap Value I	ETF/ETN	464287473	286	4,164	SH		SOLE	NONE	4,164	0	0
iShares Singapore Index Fd	ETF/ETN	464286673	120	11,700	SH		SOLE	NONE	11,700	0	0
iShares Taiwan Index Fd	ETF/ETN	464286731	148	11,626	SH		SOLE	NONE	11,626	0	0
ITT Corporation	COMMON STOCK	450911102	1,231	33,893	SH		SOLE	NONE	33,893	0	0
J P Morgan Chase	COMMON STOCK	46625H100	960	14,540	SH		SOLE	NONE	14,540	0	0
JM Smucker	COMMON STOCK	832696405	371	3,007	SH		SOLE	NONE	3,007	0	0
John Bean Technologies	COMMON STOCK	477839104	2,890	58,003	SH		SOLE	NONE	58,003	0	0
Johnson & Johnson	COMMON STOCK	478160104	3,422	33,315	SH		SOLE	NONE	33,315	0	0
Kimberly Clark	COMMON STOCK	494368103	2,193	17,228	SH		SOLE	NONE	17,228	0	0
Kraft Heinz Co.	COMMON STOCK	500754106	233	3,201	SH		SOLE	NONE	3,201	0	0
Kroger	COMMON STOCK	501044101	10,627	254,063	SH		SOLE	NONE	254,063	0	0
Laboratory Corp of America Hol	COMMON STOCK	50540R409	755	6,110	SH		SOLE	NONE	6,110	0	0
Liberty Global Inc Com Ser C	COMMON STOCK	530555309	145	3,550	SH		SOLE	NONE	3,550	0	0
Liberty Global Inc.	COMMON STOCK	G5480U104	150	3,550	SH		SOLE	NONE	3,550	0	0
Macy's Inc	COMMON STOCK	55616P104	105	3,000	SH		SOLE	NONE	3,000	0	0
Marathon Petroleum Corp	COMMON STOCK	56585A102	992	19,144	SH		SOLE	NONE	19,144	0	0
Marcus Corp	COMMON STOCK	566330106	551	29,050	SH		SOLE	NONE	29,050	0	0
Market Vectors Oil Services ET	COMMON STOCK	678002106	196	7,400	SH		SOLE	NONE	7,400	0	0
MartenTransport Ltd.	COMMON STOCK	573075108	394	22,240	SH		SOLE	NONE	22,240	0	0
Matson Navigation Co.	COMMON STOCK	57686G105	1,035	24,269	SH		SOLE	NONE	24,269	0	0
Mckesson Corp.	COMMON STOCK	58155Q103	125	635	SH		SOLE	NONE	635	0	0
MDU Resources Group Inc.	COMMON STOCK	552690109	153	8,375	SH		SOLE	NONE	8,375	0	0
Merck & Co Inc	COMMON STOCK	58933Y105	1,524	28,845	SH		SOLE	NONE	28,845	0	0
Microsoft	COMMON STOCK	594918104	4,119	74,251	SH		SOLE	NONE	74,251	0	0
Mid-America Apartment Communit	REIT	59522J103	509	5,600	SH		SOLE	NONE	5,600	0	0
Mine Safety Appliances	COMMON STOCK	602720104	217	5,000	SH		SOLE	NONE	5,000	0	0
Molson Coors Brewing Company	COMMON STOCK	60871R209	2,686	28,596	SH		SOLE	NONE	28,596	0	0
Mondelez International Inc.	COMMON STOCK	609207105	396	8,838	SH		SOLE	NONE	8,838	0	0
Multi Color Corp.	COMMON STOCK	625383104	604	10,101	SH		SOLE	NONE	10,101	0	0
NBT Bancorp Inc	COMMON STOCK	628778102	362	13,000	SH		SOLE	NONE	13,000	0	0
New York Times	COMMON STOCK	650111107	207	15,409	SH		SOLE	NONE	15,409	0	0
NextEra Energy Inc New	COMMON STOCK	65339F101	279	2,688	SH		SOLE	NONE	2,688	0	0
Nike, Inc.	COMMON STOCK	654106103	2,414	38,625	SH		SOLE	NONE	38,625	0	0
Norfolk Southern Crp	COMMON STOCK	655844108	337	3,980	SH		SOLE	NONE	3,980	0	0
Northrop Grumman Corp.	COMMON STOCK	666807102	4,469	23,667	SH		SOLE	NONE	23,667	0	0
Northwest Natural Gas	COMMON STOCK	667655104	1,072	21,190	SH		SOLE	NONE	21,190	0	0
Novartis AG Adr	COMMON STOCK	66987V109	3,586	41,681	SH		SOLE	NONE	41,681	0	0
NTT Docomo Inc. ADR	COMMON STOCK	62942M201	111	5,400	SH		SOLE	NONE	5,400	0	0
Nuveen CA Muni Advantage Fund	ETF/ETN	67066Y105	196	12,653	SH		SOLE	NONE	12,653	0	0
Oracle	COMMON STOCK	68389X105	241	6,600	SH		SOLE	NONE	6,600	0	0
Park City Group Inc.	COMMON STOCK	700215304	220	18,450	SH		SOLE	NONE	18,450	0	0
Pebblebrook Hotel Pfd Ser B	PREFERRED STOCK	70509V308	334	12,950	SH		SOLE	NONE	12,950	0	0
Pepsico	COMMON STOCK	713448108	4,941	49,449	SH		SOLE	NONE	49,449	0	0
Pfizer	COMMON STOCK	717081103	1,101	34,110	SH		SOLE	NONE	34,110	0	0
Philip Morris Intl	COMMON STOCK	718172109	241	2,745	SH		SOLE	NONE	2,745	0	0
Phillips 66	COMMON STOCK	718546104	113	1,385	SH		SOLE	NONE	1,385	0	0
Pimco ETF Short Maturity Str	ETF/ETN	72201R833	2,262	22,480	SH		SOLE	NONE	22,480	0	0
Pimco Muni Income Fd II Com	ETF/ETN	72200W106	163	13,000	SH		SOLE	NONE	13,000	0	0
Portland Gen Elec Co	COMMON STOCK	736508847	722	19,840	SH		SOLE	NONE	19,840	0	0
Potlatch Corp	COMMON STOCK	737630103	285	9,421	SH		SOLE	NONE	9,421	0	0
PowerShares FTSE RAFI US 1000	ETF/ETN	73935X583	5,270	60,695	SH		SOLE	NONE	60,695	0	0
Powershares High Yld Corp Bond	ETF/ETN	73936T557	1,852	106,206	SH		SOLE	NONE	106,206	0	0
PowerShares QQQ	ETF/ETN	631100104	485	4,338	SH		SOLE	NONE	4,338	0	0
PPL Corp.	COMMON STOCK	69351T106	1,076	31,517	SH		SOLE	NONE	31,517	0	0
Precision Castparts	COMMON STOCK	740189105	394	1,700	SH		SOLE	NONE	1,700	0	0
Procter & Gamble	COMMON STOCK	742718109	1,019	12,828	SH		SOLE	NONE	12,828	0	0
Quest Diagnostics Inc	COMMON STOCK	74834L100	160	2,250	SH		SOLE	NONE	2,250	0	0
Rayonier	COMMON STOCK	754907103	1,334	60,078	SH		SOLE	NONE	60,078	0	0
Rayonier Advanced Materials	COMMON STOCK	75508B104	110	11,244	SH		SOLE	NONE	11,244	0	0
Raytheon	COMMON STOCK	755111507	924	7,420	SH		SOLE	NONE	7,420	0	0
RCI Hospitality Holdings, Inc.	REIT	74934Q108	115	11,480	SH		SOLE	NONE	11,480	0	0
Republic Services	COMMON STOCK	760759100	1,936	44,008	SH		SOLE	NONE	44,008	0	0
Royal Dutch Shell Cl B	COMMON STOCK	780259107	191	4,140	SH		SOLE	NONE	4,140	0	0
Rush Enterprises Cl B	COMMON STOCK	781846308	128	5,852	SH		SOLE	NONE	5,852	0	0
S & P 500 Index Fund	ETF/ETN	78462F103	1,050	5,149	SH		SOLE	NONE	5,149	0	0
Scana Corp New	COMMON STOCK	80589M102	359	5,938	SH		SOLE	NONE	5,938	0	0
Schlumberger Limited	COMMON STOCK	806857108	305	4,368	SH		SOLE	NONE	4,368	0	0
Seaboard Corp.	COMMON STOCK	811543107	712	246	SH		SOLE	NONE	246	0	0
Simon Ppty Grp	COMMON STOCK	828806109	117	600	SH		SOLE	NONE	600	0	0
Sonoco Products	COMMON STOCK	835495102	1,731	42,349	SH		SOLE	NONE	42,349	0	0
Southern Co	COMMON STOCK	842587107	221	4,720	SH		SOLE	NONE	4,720	0	0
Southwest Air	COMMON STOCK	844741108	181	4,200	SH		SOLE	NONE	4,200	0	0
SPDR S&P Dividend ETF	ETF/ETN	78464A763	107	1,460	SH		SOLE	NONE	1,460	0	0
SPDR S&P Insurance ETF	ETF/ETN	78464A789	109	1,570	SH		SOLE	NONE	1,570	0	0
Starbucks	COMMON STOCK	855244109	1,059	17,637	SH		SOLE	NONE	17,637	0	0
Starwood Ppty Trust, Inc.	REIT	85571B105	203	9,850	SH		SOLE	NONE	9,850	0	0
Streettracks Gold Shrs	ETF/ETN	78463V107	990	9,753	SH		SOLE	NONE	9,753	0	0
Stryker Corp	COMMON STOCK	863667101	1,873	20,155	SH		SOLE	NONE	20,155	0	0
Syngenta AG	COMMON STOCK	87160A100	2,942	37,373	SH		SOLE	NONE	37,373	0	0
T Rowe Price Group, Inc.	COMMON STOCK	74144T108	140	1,960	SH		SOLE	NONE	1,960	0	0
The GEO Group, Inc	REIT	36162J106	289	9,995	SH		SOLE	NONE	9,995	0	0
Travelers Cos Inc.	COMMON STOCK	89417E109	253	2,245	SH		SOLE	NONE	2,245	0	0
Trustco Bk Corp Ny	COMMON STOCK	898349105	154	25,000	SH		SOLE	NONE	25,000	0	0
Twenty-First Century Fox, Cl B	COMMON STOCK	90130A200	517	19,000	SH		SOLE	NONE	19,000	0	0
UGI Corp	COMMON STOCK	902681105	1,181	34,979	SH		SOLE	NONE	34,979	0	0
Unilever PLC	COMMON STOCK	904767704	463	10,749	SH		SOLE	NONE	10,749	0	0
Union Pacific	COMMON STOCK	907818108	4,335	55,441	SH		SOLE	NONE	55,441	0	0
United Technologies	COMMON STOCK	913017109	1,970	20,502	SH		SOLE	NONE	20,502	0	0
Unitedhealth Group	COMMON STOCK	91324P102	322	2,740	SH		SOLE	NONE	2,740	0	0
Urstadt Biddle Pptys	COMMON STOCK	917286106	970	54,512	SH		SOLE	NONE	54,512	0	0
Urstadt Biddle Pptys 6.75% 12/	PREFERRED STOCK	917286809	475	18,175	SH		SOLE	NONE	18,175	0	0
Urstadt Biddle Pptys Inc Cl A	COMMON STOCK	917286205	1,315	68,364	SH		SOLE	NONE	68,364	0	0
Urstadt Biddle Pptys Inc Pfd S	PREFERRED STOCK	917286700	640	24,750	SH		SOLE	NONE	24,750	0	0
US Bancorp	COMMON STOCK	902973304	3,940	92,348	SH		SOLE	NONE	92,348	0	0
V F Corp	COMMON STOCK	918204108	199	3,200	SH		SOLE	NONE	3,200	0	0
Vanguard Consumer Staples ETF	ETF/ETN	92204A207	413	3,200	SH		SOLE	NONE	3,200	0	0
Vanguard Dividend Appreciation	ETF/ETN	921908844	899	11,563	SH		SOLE	NONE	11,563	0	0
Vanguard Energy ETF	ETF/ETN	92204A306	4,776	57,464	SH		SOLE	NONE	57,464	0	0
Vanguard Extended Mkt ETF	ETF/ETN	922908652	2,038	24,318	SH		SOLE	NONE	24,318	0	0
Vanguard Financials ETF	ETF/ETN	92204A405	1,532	31,620	SH		SOLE	NONE	31,620	0	0
Vanguard FTSE All World exUS E	ETF/ETN	922042775	143	3,294	SH		SOLE	NONE	3,294	0	0
Vanguard Global ex-US Real Est	ETF/ETN	922042676	193	3,770	SH		SOLE	NONE	3,770	0	0
Vanguard Growth ETF	ETF/ETN	922908736	150	1,409	SH		SOLE	NONE	1,409	0	0
Vanguard Health Care ETF	ETF/ETN	92204A504	1,588	11,950	SH		SOLE	NONE	11,950	0	0
Vanguard High Dividend Yield I	ETF/ETN	921946406	13,940	208,842	SH		SOLE	NONE	208,842	0	0
Vanguard Information Technolog	ETF/ETN	92204A702	8,693	80,278	SH		SOLE	NONE	80,278	0	0
Vanguard Intermediate-Term Cor	ETF/ETN	92206C870	399	4,740	SH		SOLE	NONE	4,740	0	0
Vanguard Mega Cap ETF	ETF/ETN	921910873	4,389	62,918	SH		SOLE	NONE	62,918	0	0
Vanguard REIT Index ETF	ETF/ETN	922908553	800	10,033	SH		SOLE	NONE	10,033	0	0
Vanguard S&P 500 ETF	ETF/ETN	922908363	3,947	21,115	SH		SOLE	NONE	21,115	0	0
Vanguard Short Term Bond ETF	ETF/ETN	921937827	215	2,700	SH		SOLE	NONE	2,700	0	0
Vanguard Small Cap Value ETF	ETF/ETN	922908611	1,407	14,245	SH		SOLE	NONE	14,245	0	0
Vanguard Total Stock Mkt ETF	ETF/ETN	922908769	21,724	208,283	SH		SOLE	NONE	208,283	0	0
Vanguard Total World Stk Index	ETF/ETN	922042742	2,777	48,189	SH		SOLE	NONE	48,189	0	0
Vanguard Utilities ETF	ETF/ETN	92204A876	1,509	16,060	SH		SOLE	NONE	16,060	0	0
Vectren Corp	COMMON STOCK	92240G101	1,318	31,073	SH		SOLE	NONE	31,073	0	0
Ventas Inc.	COMMON STOCK	92276F100	564	10,000	SH		SOLE	NONE	10,000	0	0
VeriFone Systems, Inc.	COMMON STOCK	92342Y109	396	14,130	SH		SOLE	NONE	14,130	0	0
Verizon Communications	COMMON STOCK	92343V104	2,072	44,821	SH		SOLE	NONE	44,821	0	0
Visa Inc	COMMON STOCK	92826C839	434	5,592	SH		SOLE	NONE	5,592	0	0
Vodafone Group PLC	COMMON STOCK	92857W100	381	11,805	SH		SOLE	NONE	11,805	0	0
Wabash National Corp.	COMMON STOCK	929566107	405	34,220	SH		SOLE	NONE	34,220	0	0
Wal-Mart Stores	COMMON STOCK	931142103	1,347	21,966	SH		SOLE	NONE	21,966	0	0
Walt Disney Co.	COMMON STOCK	254687106	3,093	29,434	SH		SOLE	NONE	29,434	0	0
Washington Real Estate Inv Tru	REIT	939653101	153	5,650	SH		SOLE	NONE	5,650	0	0
Waste Management	COMMON STOCK	94106L109	708	13,266	SH		SOLE	NONE	13,266	0	0
Wells Fargo & Co	COMMON STOCK	949746101	971	17,860	SH		SOLE	NONE	17,860	0	0
Western Asset High Income Oppo	ETF/ETN	95766K109	127	27,000	SH		SOLE	NONE	27,000	0	0
Weyerhaeuser	REIT	962166104	1,560	52,036	SH		SOLE	NONE	52,036	0	0
Whirlpool Corp	COMMON STOCK	963320106	847	5,770	SH		SOLE	NONE	5,770	0	0
Whitestone Reit	REIT	966084204	658	54,800	SH		SOLE	NONE	54,800	0	0
WisdomTree DEFA ETF	ETF/ETN	97717W703	2,771	59,480	SH		SOLE	NONE	59,480	0	0
WisdomTree Emerging Mkts Small	ETF/ETN	97717W281	1,026	29,264	SH		SOLE	NONE	29,264	0	0
Xylem Inc	COMMON STOCK	98419M100	316	8,647	SH		SOLE	NONE	8,647	0	0
Zimmer Biomet Holdings, Inc.	COMMON STOCK	98956P102	142	1,380	SH		SOLE	NONE	1,380	0	0