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	994	5,568	SH		SOLE	NONE	5,568	0	0
Abbott Laboratories	COMMON STOCK	002824100	1,496	38,954	SH		SOLE	NONE	38,954	0	0
AbbVie Inc.	COMMON STOCK	00287Y109	1,573	25,112	SH		SOLE	NONE	25,112	0	0
Aberdeen Asia-Pacific Income F	ETF/ETN	003009107	115	24,800	SH		SOLE	NONE	24,800	0	0
ABM Industries	COMMON STOCK	000957100	582	14,250	SH		SOLE	NONE	14,250	0	0
Accenture PLC	COMMON STOCK	G1151C101	201	1,717	SH		SOLE	NONE	1,717	0	0
Alaska Air Group	COMMON STOCK	011659109	594	6,700	SH		SOLE	NONE	6,700	0	0
Alaska Communications Systems	COMMON STOCK	01167P101	43	26,500	SH		SOLE	NONE	26,500	0	0
Alexander & Baldwin	COMMON STOCK	014491104	758	16,887	SH		SOLE	NONE	16,887	0	0
Alphabet Inc. CL A	COMMON STOCK	02079K305	1,580	1,994	SH		SOLE	NONE	1,994	0	0
Alphabet Inc. CL C	COMMON STOCK	02079K107	1,741	2,256	SH		SOLE	NONE	2,256	0	0
Altria Group	COMMON STOCK	718154107	399	5,899	SH		SOLE	NONE	5,899	0	0
Amazon.com Inc.	COMMON STOCK	023135106	793	1,058	SH		SOLE	NONE	1,058	0	0
American Express	COMMON STOCK	025816109	1,124	15,169	SH		SOLE	NONE	15,169	0	0
AmerisourceBergen Corporation	COMMON STOCK	03073E105	3,819	48,846	SH		SOLE	NONE	48,846	0	0
Anadarko Pete Corp	COMMON STOCK	032511107	190	2,725	SH		SOLE	NONE	2,725	0	0
Anheuser-Busch InBev	COMMON STOCK	035229103	262	2,488	SH		SOLE	NONE	2,488	0	0
Apollo Commercial Real Estate	REIT	03762U105	495	29,782	SH		SOLE	NONE	29,782	0	0
Apple Computer	COMMON STOCK	037833100	1,896	16,366	SH		SOLE	NONE	16,366	0	0
AptarGroup Inc	COMMON STOCK	038336103	110	1,500	SH		SOLE	NONE	1,500	0	0
Archer Daniels Midland	COMMON STOCK	039483102	379	8,300	SH		SOLE	NONE	8,300	0	0
Armada Hoffler Properties, Inc	REIT	04208T108	331	22,700	SH		SOLE	NONE	22,700	0	0
AT&T	COMMON STOCK	00206R102	523	12,301	SH		SOLE	NONE	12,301	0	0
Automatic Data Processing	COMMON STOCK	053015103	468	4,550	SH		SOLE	NONE	4,550	0	0
Avista Corp.	COMMON STOCK	05379B107	202	5,050	SH		SOLE	NONE	5,050	0	0
B/E Aerospace Inc.	COMMON STOCK	073302101	2,924	48,580	SH		SOLE	NONE	48,580	0	0
Baldwin & Lyons Inc CL B	COMMON STOCK	057755209	421	16,700	SH		SOLE	NONE	16,700	0	0
Ball Corp	COMMON STOCK	058498106	1,954	26,028	SH		SOLE	NONE	26,028	0	0
Bank of America	COMMON STOCK	060505104	278	12,600	SH		SOLE	NONE	12,600	0	0
Bank of New York Mellon	COMMON STOCK	064058100	2,386	50,356	SH		SOLE	NONE	50,356	0	0
Bank of Nova Scotia	COMMON STOCK	064149107	750	13,478	SH		SOLE	NONE	13,478	0	0
BCE Inc.	COMMON STOCK	05534B760	489	11,300	SH		SOLE	NONE	11,300	0	0
Becton Dickinson Co	COMMON STOCK	075887109	157	950	SH		SOLE	NONE	950	0	0
Berkshire Hathaway Cl A	COMMON STOCK	084670108	5,127	21	SH		SOLE	NONE	21	0	0
Berkshire Hathaway Cl B	COMMON STOCK	084670702	10,725	65,803	SH		SOLE	NONE	65,803	0	0
Black Diamond Inc.	COMMON STOCK	09202G101	138	25,796	SH		SOLE	NONE	25,796	0	0
Bluerock Residential PFD A	PREFERRED STOCK	09627J508	138	5,300	SH		SOLE	NONE	5,300	0	0
Boeing	COMMON STOCK	097023105	357	2,295	SH		SOLE	NONE	2,295	0	0
BP p.l.c.	COMMON STOCK	055622104	307	8,200	SH		SOLE	NONE	8,200	0	0
Bristol Myers Squibb	COMMON STOCK	110122108	1,948	33,333	SH		SOLE	NONE	33,333	0	0
Brixmor Property Group Inc.	REIT	11120U105	1,140	46,675	SH		SOLE	NONE	46,675	0	0
Broadridge Financial Solutions	COMMON STOCK	11133T103	189	2,850	SH		SOLE	NONE	2,850	0	0
Campbell Soup Company	COMMON STOCK	134429109	440	7,282	SH		SOLE	NONE	7,282	0	0
Canadian National Railway Co.	COMMON STOCK	136375102	317	4,700	SH		SOLE	NONE	4,700	0	0
Carriage Services	COMMON STOCK	143905107	172	6,000	SH		SOLE	NONE	6,000	0	0
Central Fund of Canada Ltd.	ETF/ETN	153501101	215	19,000	SH		SOLE	NONE	19,000	0	0
ChevronTexaco	COMMON STOCK	166764100	1,618	13,749	SH		SOLE	NONE	13,749	0	0
Cisco Systems	COMMON STOCK	17275R102	491	16,234	SH		SOLE	NONE	16,234	0	0
City Office Reit Red PFD Ser A	PREFERRED STOCK	178587200	244	10,700	SH		SOLE	NONE	10,700	0	0
Clorox Company	COMMON STOCK	189054109	702	5,851	SH		SOLE	NONE	5,851	0	0
Coca-Cola Bottling	COMMON STOCK	191098102	103	575	SH		SOLE	NONE	575	0	0
Coca-Cola Company	COMMON STOCK	191216100	1,021	24,628	SH		SOLE	NONE	24,628	0	0
Coca-Cola European Partners PL	COMMON STOCK	G25839104	317	10,095	SH		SOLE	NONE	10,095	0	0
Comcast Corporation	COMMON STOCK	20030N101	1,744	25,250	SH		SOLE	NONE	25,250	0	0
Conoco Phillips	COMMON STOCK	718507106	102	2,040	SH		SOLE	NONE	2,040	0	0
Consolidated Edison	COMMON STOCK	209115104	145	1,967	SH		SOLE	NONE	1,967	0	0
Corning Inc	COMMON STOCK	219350105	158	6,500	SH		SOLE	NONE	6,500	0	0
Costco Wholesale	COMMON STOCK	22160K105	1,088	6,794	SH		SOLE	NONE	6,794	0	0
Deere & Company	COMMON STOCK	244199105	533	5,170	SH		SOLE	NONE	5,170	0	0
Delta Air Lines Inc.	COMMON STOCK	247361702	107	2,185	SH		SOLE	NONE	2,185	0	0
Diageo PLC	COMMON STOCK	25243Q205	232	2,235	SH		SOLE	NONE	2,235	0	0
Dominion Resources	COMMON STOCK	25746U109	684	8,927	SH		SOLE	NONE	8,927	0	0
Du Pont	COMMON STOCK	263534109	2,007	27,340	SH		SOLE	NONE	27,340	0	0
Duke Energy	COMMON STOCK	264399106	200	2,575	SH		SOLE	NONE	2,575	0	0
Edwards Lifesciences	COMMON STOCK	28176E108	187	2,000	SH		SOLE	NONE	2,000	0	0
Eli Lilly	COMMON STOCK	532457108	125	1,700	SH		SOLE	NONE	1,700	0	0
EOG Resources	COMMON STOCK	26875P101	106	1,044	SH		SOLE	NONE	1,044	0	0
Equity Residential	REIT	29476L107	183	2,850	SH		SOLE	NONE	2,850	0	0
Eversource Energy	COMMON STOCK	30040W108	898	16,265	SH		SOLE	NONE	16,265	0	0
Express Scripts Holding Co.	COMMON STOCK	302182100	112	1,621	SH		SOLE	NONE	1,621	0	0
Exxon Mobil	COMMON STOCK	30231G102	1,747	19,353	SH		SOLE	NONE	19,353	0	0
Facebook Inc	COMMON STOCK	30303M102	413	3,586	SH		SOLE	NONE	3,586	0	0
Fedex Corp	COMMON STOCK	31428X106	903	4,850	SH		SOLE	NONE	4,850	0	0
Ferrari N.V.	COMMON STOCK	N3167Y103	385	6,615	SH		SOLE	NONE	6,615	0	0
Fiat Chrysler Automobiles N.V.	COMMON STOCK	N31738102	937	102,750	SH		SOLE	NONE	102,750	0	0
Flexshares Quality Dividend In	ETF/ETN	33939L860	407	10,305	SH		SOLE	NONE	10,305	0	0
Fomento Economico Mexicano	COMMON STOCK	344419106	3,605	47,300	SH		SOLE	NONE	47,300	0	0
Fresh Del Monte Produce Inc.	COMMON STOCK	G36738105	3,890	64,156	SH		SOLE	NONE	64,156	0	0
Gabelli Global Sml & Md Cap PF	PREFERRED STOCK	36249W203	120	5,000	SH		SOLE	NONE	5,000	0	0
General American Investors Co.	ETF/ETN	368802104	188	6,036	SH		SOLE	NONE	6,036	0	0
General Electric	COMMON STOCK	369604103	618	19,569	SH		SOLE	NONE	19,569	0	0
General Mills	COMMON STOCK	370334104	3,673	59,459	SH		SOLE	NONE	59,459	0	0
General Motors	COMMON STOCK	37045V100	329	9,453	SH		SOLE	NONE	9,453	0	0
Genuine Parts	COMMON STOCK	372460105	1,269	13,280	SH		SOLE	NONE	13,280	0	0
GlaxoSmithKline Plc Adr	COMMON STOCK	37733W105	130	3,367	SH		SOLE	NONE	3,367	0	0
Hasbro	COMMON STOCK	418056107	253	3,250	SH		SOLE	NONE	3,250	0	0
Helmerich & Payne	COMMON STOCK	423452101	360	4,650	SH		SOLE	NONE	4,650	0	0
Highwoods Properties Inc.	REIT	431284108	765	15,000	SH		SOLE	NONE	15,000	0	0
Home Depot	COMMON STOCK	437076102	898	6,697	SH		SOLE	NONE	6,697	0	0
Honeywell Intl.	COMMON STOCK	438516106	2,215	19,116	SH		SOLE	NONE	19,116	0	0
Host Hotels & Resorts, Inc.	REIT	44107P104	1,298	68,890	SH		SOLE	NONE	68,890	0	0
Houston Wire & Cable Company	COMMON STOCK	44244K109	81	12,500	SH		SOLE	NONE	12,500	0	0
Humana Inc.	COMMON STOCK	444859102	518	2,540	SH		SOLE	NONE	2,540	0	0
Imperial Oil Ltd.	COMMON STOCK	453038408	693	19,926	SH		SOLE	NONE	19,926	0	0
Ingles Markets, Inc.	COMMON STOCK	457030104	1,756	36,501	SH		SOLE	NONE	36,501	0	0
Intel	COMMON STOCK	458140100	962	26,532	SH		SOLE	NONE	26,532	0	0
Intl Paper Co.	COMMON STOCK	460146103	3,781	71,252	SH		SOLE	NONE	71,252	0	0
Investors Title	COMMON STOCK	461804106	902	5,702	SH		SOLE	NONE	5,702	0	0
iShares 1-3 Yr Treas Index Fd	ETF/ETN	464287457	169	2,000	SH		SOLE	NONE	2,000	0	0
iShares DJ US Oil Equip & Svcs	ETF/ETN	464288844	1,086	23,890	SH		SOLE	NONE	23,890	0	0
iShares Global Telecom Fd	ETF/ETN	464287275	1,604	27,317	SH		SOLE	NONE	27,317	0	0
iShares Hong Kong Index Fd	ETF/ETN	464286871	126	6,475	SH		SOLE	NONE	6,475	0	0
iShares iBoxx $ Invst Grade Cr	ETF/ETN	464287242	238	2,033	SH		SOLE	NONE	2,033	0	0
iShares MSCI EAFE Minimum Vola	ETF/ETN	46429B689	6,306	103,005	SH		SOLE	NONE	103,005	0	0
iShares MSCI Emerging Markets	ETF/ETN	464286533	171	3,506	SH		SOLE	NONE	3,506	0	0
iShares Russell 1000	ETF/ETN	464287622	259	2,081	SH		SOLE	NONE	2,081	0	0
iShares Russell 1000 Growth In	ETF/ETN	464287614	168	1,606	SH		SOLE	NONE	1,606	0	0
iShares Russell 1000 Value Ind	ETF/ETN	464287598	312	2,781	SH		SOLE	NONE	2,781	0	0
iShares Russell Mid-Cap Index	ETF/ETN	464287499	246	1,374	SH		SOLE	NONE	1,374	0	0
iShares Russell Midcap Value I	ETF/ETN	464287473	349	4,334	SH		SOLE	NONE	4,334	0	0
iShares Tr Russell 2000 Index	ETF/ETN	464287655	109	807	SH		SOLE	NONE	807	0	0
ITT Inc.	COMMON STOCK	45073V108	973	25,224	SH		SOLE	NONE	25,224	0	0
J P Morgan Chase	COMMON STOCK	46625H100	1,456	16,877	SH		SOLE	NONE	16,877	0	0
JM Smucker	COMMON STOCK	832696405	350	2,730	SH		SOLE	NONE	2,730	0	0
John Bean Technologies	COMMON STOCK	477839104	2,393	27,843	SH		SOLE	NONE	27,843	0	0
Johnson & Johnson	COMMON STOCK	478160104	3,799	32,977	SH		SOLE	NONE	32,977	0	0
Kimberly Clark	COMMON STOCK	494368103	2,086	18,278	SH		SOLE	NONE	18,278	0	0
Kite Realty Group Trust	REIT	49803T300	218	9,300	SH		SOLE	NONE	9,300	0	0
Kraft Heinz Co.	COMMON STOCK	500754106	280	3,201	SH		SOLE	NONE	3,201	0	0
Kroger	COMMON STOCK	501044101	8,849	256,416	SH		SOLE	NONE	256,416	0	0
Laboratory Corp of America Hol	COMMON STOCK	50540R409	851	6,630	SH		SOLE	NONE	6,630	0	0
Liberty Global Inc.	COMMON STOCK	G5480U104	102	3,345	SH		SOLE	NONE	3,345	0	0
Luxfer Holdings PLC	COMMON STOCK	550678106	114	10,500	SH		SOLE	NONE	10,500	0	0
Macy's Inc	COMMON STOCK	55616P104	107	3,000	SH		SOLE	NONE	3,000	0	0
Marathon Petroleum Corp	COMMON STOCK	56585A102	986	19,573	SH		SOLE	NONE	19,573	0	0
Marcus Corp	COMMON STOCK	566330106	464	14,745	SH		SOLE	NONE	14,745	0	0
MartenTransport Ltd.	COMMON STOCK	573075108	498	21,390	SH		SOLE	NONE	21,390	0	0
Matson Navigation Co.	COMMON STOCK	57686G105	832	23,520	SH		SOLE	NONE	23,520	0	0
MDU Resources Group Inc.	COMMON STOCK	552690109	204	7,075	SH		SOLE	NONE	7,075	0	0
Merck & Co Inc	COMMON STOCK	58933Y105	1,772	30,101	SH		SOLE	NONE	30,101	0	0
Microsoft	COMMON STOCK	594918104	4,816	77,502	SH		SOLE	NONE	77,502	0	0
Mid-America Apartment Communit	REIT	59522J103	548	5,600	SH		SOLE	NONE	5,600	0	0
Mine Safety Appliances	COMMON STOCK	602720104	347	5,000	SH		SOLE	NONE	5,000	0	0
Molson Coors Brewing Company	COMMON STOCK	60871R209	2,885	29,646	SH		SOLE	NONE	29,646	0	0
Mondelez International Inc.	COMMON STOCK	609207105	404	9,114	SH		SOLE	NONE	9,114	0	0
Multi Color Corp.	COMMON STOCK	625383104	735	9,476	SH		SOLE	NONE	9,476	0	0
NBT Bancorp Inc	COMMON STOCK	628778102	461	11,000	SH		SOLE	NONE	11,000	0	0
New York Times	COMMON STOCK	650111107	200	15,000	SH		SOLE	NONE	15,000	0	0
NextEra Energy Inc New	COMMON STOCK	65339F101	345	2,888	SH		SOLE	NONE	2,888	0	0
Nike, Inc.	COMMON STOCK	654106103	1,784	35,094	SH		SOLE	NONE	35,094	0	0
Nordstrom Inc.	COMMON STOCK	655664100	3,800	79,280	SH		SOLE	NONE	79,280	0	0
Norfolk Southern Crp	COMMON STOCK	655844108	414	3,830	SH		SOLE	NONE	3,830	0	0
Northrop Grumman Corp.	COMMON STOCK	666807102	5,167	22,217	SH		SOLE	NONE	22,217	0	0
Northwest Natural Gas	COMMON STOCK	667655104	1,074	17,957	SH		SOLE	NONE	17,957	0	0
Novartis AG Adr	COMMON STOCK	66987V109	3,124	42,894	SH		SOLE	NONE	42,894	0	0
NTT Docomo Inc. ADR	COMMON STOCK	62942M201	123	5,400	SH		SOLE	NONE	5,400	0	0
Nuveen CA Muni Advantage Fund	ETF/ETN	67066Y105	141	10,000	SH		SOLE	NONE	10,000	0	0
Oracle	COMMON STOCK	68389X105	265	6,892	SH		SOLE	NONE	6,892	0	0
Park City Group Inc.	COMMON STOCK	700215304	234	18,450	SH		SOLE	NONE	18,450	0	0
Pepsico, Inc.	COMMON STOCK	713448108	5,628	53,788	SH		SOLE	NONE	53,788	0	0
Pfizer Inc.	COMMON STOCK	717081103	1,180	36,325	SH		SOLE	NONE	36,325	0	0
Philip Morris Intl	COMMON STOCK	718172109	251	2,745	SH		SOLE	NONE	2,745	0	0
Phillips 66	COMMON STOCK	718546104	107	1,235	SH		SOLE	NONE	1,235	0	0
Pimco ETF Short Maturity Str	ETF/ETN	72201R833	2,189	21,600	SH		SOLE	NONE	21,600	0	0
Pimco Muni Income Fd II Com	ETF/ETN	72200W106	134	11,000	SH		SOLE	NONE	11,000	0	0
Portland Gen Elec Co	COMMON STOCK	736508847	929	21,440	SH		SOLE	NONE	21,440	0	0
Potlatch Corp	REIT	737630103	419	10,051	SH		SOLE	NONE	10,051	0	0
PowerShares FTSE RAFI US 1000	ETF/ETN	73935X583	6,251	62,796	SH		SOLE	NONE	62,796	0	0
Powershares High Yld Corp Bond	ETF/ETN	73936T557	2,664	141,781	SH		SOLE	NONE	141,781	0	0
PowerShares QQQ	ETF/ETN	631100104	399	3,366	SH		SOLE	NONE	3,366	0	0
PPL Corp.	COMMON STOCK	69351T106	1,112	32,667	SH		SOLE	NONE	32,667	0	0
Procter & Gamble	COMMON STOCK	742718109	1,235	14,692	SH		SOLE	NONE	14,692	0	0
ProLogis	COMMON STOCK	743410102	554	10,500	SH		SOLE	NONE	10,500	0	0
Quest Diagnostics Inc.	COMMON STOCK	74834L100	207	2,250	SH		SOLE	NONE	2,250	0	0
Rayonier	COMMON STOCK	754907103	1,568	58,960	SH		SOLE	NONE	58,960	0	0
Raytheon	COMMON STOCK	755111507	1,174	8,270	SH		SOLE	NONE	8,270	0	0
Republic Services	COMMON STOCK	760759100	1,592	27,906	SH		SOLE	NONE	27,906	0	0
Rush Enterprises Cl B	COMMON STOCK	781846308	166	5,365	SH		SOLE	NONE	5,365	0	0
Ryder System, Inc.	COMMON STOCK	783549108	1,031	13,855	SH		SOLE	NONE	13,855	0	0
S & P 500 Index Fund	ETF/ETN	78462F103	1,496	6,692	SH		SOLE	NONE	6,692	0	0
Scana Corp New	COMMON STOCK	80589M102	395	5,388	SH		SOLE	NONE	5,388	0	0
Schlumberger Limited	COMMON STOCK	806857108	774	9,223	SH		SOLE	NONE	9,223	0	0
Seaboard Corp.	COMMON STOCK	811543107	909	230	SH		SOLE	NONE	230	0	0
Sealed Air Corp New	COMMON STOCK	81211K100	2,258	49,810	SH		SOLE	NONE	49,810	0	0
Sonoco Products	COMMON STOCK	835495102	2,257	42,834	SH		SOLE	NONE	42,834	0	0
Southern Co	COMMON STOCK	842587107	188	3,820	SH		SOLE	NONE	3,820	0	0
Southwest Air	COMMON STOCK	844741108	263	5,280	SH		SOLE	NONE	5,280	0	0
SPDR S&P Dividend ETF	ETF/ETN	78464A763	125	1,460	SH		SOLE	NONE	1,460	0	0
Starbucks	COMMON STOCK	855244109	953	17,158	SH		SOLE	NONE	17,158	0	0
Starwood Ppty Trust, Inc.	REIT	85571B105	503	22,900	SH		SOLE	NONE	22,900	0	0
Streettracks Gold Shrs	ETF/ETN	78463V107	1,416	12,923	SH		SOLE	NONE	12,923	0	0
Stryker Corp	COMMON STOCK	863667101	3,229	26,955	SH		SOLE	NONE	26,955	0	0
T Rowe Price Group, Inc.	COMMON STOCK	74144T108	148	1,960	SH		SOLE	NONE	1,960	0	0
Texas Instruments	COMMON STOCK	882508104	106	1,450	SH		SOLE	NONE	1,450	0	0
The GEO Group, Inc	REIT	36162J106	370	10,290	SH		SOLE	NONE	10,290	0	0
Time Warner Inc	COMMON STOCK	887317303	145	1,500	SH		SOLE	NONE	1,500	0	0
Tompkins Financial Corp	COMMON STOCK	890110109	161	1,700	SH		SOLE	NONE	1,700	0	0
Travelers Cos Inc.	COMMON STOCK	89417E109	275	2,245	SH		SOLE	NONE	2,245	0	0
Trustco Bk Corp Ny	COMMON STOCK	898349105	201	23,000	SH		SOLE	NONE	23,000	0	0
Twenty-First Century Fox, Cl A	COMMON STOCK	90130A101	278	9,919	SH		SOLE	NONE	9,919	0	0
Twenty-First Century Fox, Cl B	COMMON STOCK	90130A200	507	18,600	SH		SOLE	NONE	18,600	0	0
UGI Corp	COMMON STOCK	902681105	1,445	31,357	SH		SOLE	NONE	31,357	0	0
Unilever PLC	COMMON STOCK	904767704	1,044	25,646	SH		SOLE	NONE	25,646	0	0
Union Pacific Corporation	COMMON STOCK	907818108	5,452	52,586	SH		SOLE	NONE	52,586	0	0
United Technologies Corp.	COMMON STOCK	913017109	1,997	18,217	SH		SOLE	NONE	18,217	0	0
Unitedhealth Group	COMMON STOCK	91324P102	431	2,690	SH		SOLE	NONE	2,690	0	0
Urstadt Biddle Pptys	REIT	917286106	1,019	53,362	SH		SOLE	NONE	53,362	0	0
Urstadt Biddle Pptys 6.75 12/	PREFERRED STOCK	917286809	491	19,175	SH		SOLE	NONE	19,175	0	0
Urstadt Biddle Pptys Inc Cl A	REIT	917286205	1,670	69,264	SH		SOLE	NONE	69,264	0	0
Urstadt Biddle Pptys Inc Pfd S	PREFERRED STOCK	917286700	664	26,050	SH		SOLE	NONE	26,050	0	0
US Bancorp	COMMON STOCK	902973304	4,768	92,818	SH		SOLE	NONE	92,818	0	0
V F Corp	COMMON STOCK	918204108	165	3,100	SH		SOLE	NONE	3,100	0	0
Vanguard Consumer Staples ETF	ETF/ETN	92204A207	228	1,700	SH		SOLE	NONE	1,700	0	0
Vanguard Energy ETF	ETF/ETN	92204A306	6,651	63,539	SH		SOLE	NONE	63,539	0	0
Vanguard Extended Mkt ETF	ETF/ETN	922908652	2,303	24,018	SH		SOLE	NONE	24,018	0	0
Vanguard Financials ETF	ETF/ETN	92204A405	1,882	31,708	SH		SOLE	NONE	31,708	0	0
Vanguard Global ex-US Real Est	ETF/ETN	922042676	235	4,750	SH		SOLE	NONE	4,750	0	0
Vanguard Growth ETF	ETF/ETN	922908736	310	2,781	SH		SOLE	NONE	2,781	0	0
Vanguard Health Care ETF	ETF/ETN	92204A504	1,477	11,650	SH		SOLE	NONE	11,650	0	0
Vanguard High Dividend Yield I	ETF/ETN	921946406	16,390	216,312	SH		SOLE	NONE	216,312	0	0
Vanguard Information Technolog	ETF/ETN	92204A702	9,901	81,488	SH		SOLE	NONE	81,488	0	0
Vanguard Intermediate-Term Cor	ETF/ETN	92206C870	784	9,145	SH		SOLE	NONE	9,145	0	0
Vanguard Mega Cap ETF	ETF/ETN	921910873	4,227	55,366	SH		SOLE	NONE	55,366	0	0
Vanguard Mid-Cap Value ETF	ETF/ETN	922908512	666	6,853	SH		SOLE	NONE	6,853	0	0
Vanguard REIT ETF	ETF/ETN	922908553	2,673	32,387	SH		SOLE	NONE	32,387	0	0
Vanguard S&P 500 ETF	ETF/ETN	922908363	7,362	35,858	SH		SOLE	NONE	35,858	0	0
Vanguard Short Term Bond ETF	ETF/ETN	921937827	683	8,600	SH		SOLE	NONE	8,600	0	0
Vanguard Small Cap Value ETF	ETF/ETN	922908611	2,919	24,125	SH		SOLE	NONE	24,125	0	0
Vanguard Total Stock Mkt ETF	ETF/ETN	922908769	24,703	214,209	SH		SOLE	NONE	214,209	0	0
Vanguard Total World Stk Index	ETF/ETN	922042742	3,073	50,370	SH		SOLE	NONE	50,370	0	0
Vanguard Utilities ETF	ETF/ETN	92204A876	1,605	14,999	SH		SOLE	NONE	14,999	0	0
Vanguard Value ETF	ETF/ETN	922908744	166	1,782	SH		SOLE	NONE	1,782	0	0
Vectren Corp	COMMON STOCK	92240G101	1,086	20,833	SH		SOLE	NONE	20,833	0	0
Ventas Inc.	COMMON STOCK	92276F100	625	10,000	SH		SOLE	NONE	10,000	0	0
VeriFone Systems, Inc.	COMMON STOCK	92342Y109	417	23,520	SH		SOLE	NONE	23,520	0	0
Verizon Communications	COMMON STOCK	92343V104	3,432	64,294	SH		SOLE	NONE	64,294	0	0
Visa Inc	COMMON STOCK	92826C839	501	6,417	SH		SOLE	NONE	6,417	0	0
Vodafone Group PLC	COMMON STOCK	92857W100	832	34,068	SH		SOLE	NONE	34,068	0	0
Wabash National Corp.	COMMON STOCK	929566107	1,704	107,695	SH		SOLE	NONE	107,695	0	0
Wal-Mart Stores	COMMON STOCK	931142103	1,528	22,103	SH		SOLE	NONE	22,103	0	0
Walt Disney Co.	COMMON STOCK	254687106	3,696	35,459	SH		SOLE	NONE	35,459	0	0
Waste Management	COMMON STOCK	94106L109	923	13,016	SH		SOLE	NONE	13,016	0	0
Wells Fargo & Co	COMMON STOCK	949746101	1,330	24,128	SH		SOLE	NONE	24,128	0	0
Weyerhaeuser	REIT	962166104	2,148	71,374	SH		SOLE	NONE	71,374	0	0
Whirlpool Corp	COMMON STOCK	963320106	1,194	6,570	SH		SOLE	NONE	6,570	0	0
WisdomTree DEFA ETF	ETF/ETN	97717W703	3,339	71,965	SH		SOLE	NONE	71,965	0	0
WisdomTree Emerging Mkts Small	ETF/ETN	97717W281	2,648	67,699	SH		SOLE	NONE	67,699	0	0
Xylem Inc	COMMON STOCK	98419M100	384	7,748	SH		SOLE	NONE	7,748	0	0
Zimmer Biomet Holdings, Inc.	COMMON STOCK	98956P102	142	1,380	SH		SOLE	NONE	1,380	0	0