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	1,046	5,468	SH		SOLE	NONE	5,468	0	0
Abbott Laboratories	COMMON STOCK	002824100	1,729	38,924	SH		SOLE	NONE	38,924	0	0
AbbVie Inc.	COMMON STOCK	00287Y109	1,651	25,332	SH		SOLE	NONE	25,332	0	0
Aberdeen Asia-Pacific Income F	ETF/ETN	003009107	119	23,800	SH		SOLE	NONE	23,800	0	0
ABM Industries	COMMON STOCK	000957100	621	14,250	SH		SOLE	NONE	14,250	0	0
Accenture PLC	COMMON STOCK	G1151C101	206	1,717	SH		SOLE	NONE	1,717	0	0
Alaska Air Group	COMMON STOCK	011659109	553	6,000	SH		SOLE	NONE	6,000	0	0
Alaska Communications Systems	COMMON STOCK	01167P101	37	20,000	SH		SOLE	NONE	20,000	0	0
Alexander & Baldwin	COMMON STOCK	014491104	752	16,887	SH		SOLE	NONE	16,887	0	0
Alphabet Inc. CL A	COMMON STOCK	02079K305	1,691	1,995	SH		SOLE	NONE	1,995	0	0
Alphabet Inc. CL C	COMMON STOCK	02079K107	1,899	2,289	SH		SOLE	NONE	2,289	0	0
Altria Group	COMMON STOCK	718154107	421	5,899	SH		SOLE	NONE	5,899	0	0
Amazon.com Inc.	COMMON STOCK	023135106	947	1,068	SH		SOLE	NONE	1,068	0	0
American Express	COMMON STOCK	025816109	1,200	15,169	SH		SOLE	NONE	15,169	0	0
AmerisourceBergen Corporation	COMMON STOCK	03073E105	4,401	49,730	SH		SOLE	NONE	49,730	0	0
Anadarko Pete Corp	COMMON STOCK	032511107	169	2,725	SH		SOLE	NONE	2,725	0	0
Anheuser-Busch InBev	COMMON STOCK	035229103	258	2,350	SH		SOLE	NONE	2,350	0	0
Apollo Commercial Real Estate	REIT	03762U105	560	29,782	SH		SOLE	NONE	29,782	0	0
Apple Computer	COMMON STOCK	037833100	2,398	16,691	SH		SOLE	NONE	16,691	0	0
AptarGroup Inc	COMMON STOCK	038336103	115	1,500	SH		SOLE	NONE	1,500	0	0
Archer Daniels Midland	COMMON STOCK	039483102	382	8,300	SH		SOLE	NONE	8,300	0	0
Armada Hoffler Properties, Inc	REIT	04208T108	315	22,700	SH		SOLE	NONE	22,700	0	0
AT&T	COMMON STOCK	00206R102	511	12,301	SH		SOLE	NONE	12,301	0	0
Automatic Data Processing	COMMON STOCK	053015103	497	4,850	SH		SOLE	NONE	4,850	0	0
Avista Corp.	COMMON STOCK	05379B107	185	4,750	SH		SOLE	NONE	4,750	0	0
B/E Aerospace Inc.	COMMON STOCK	073302101	3,106	48,450	SH		SOLE	NONE	48,450	0	0
Baldwin & Lyons Inc CL B	COMMON STOCK	057755209	394	16,100	SH		SOLE	NONE	16,100	0	0
Ball Corp	COMMON STOCK	058498106	2,012	27,098	SH		SOLE	NONE	27,098	0	0
Bank of America	COMMON STOCK	060505104	297	12,600	SH		SOLE	NONE	12,600	0	0
Bank of New York Mellon	COMMON STOCK	064058100	2,392	50,656	SH		SOLE	NONE	50,656	0	0
Bank of Nova Scotia	COMMON STOCK	064149107	789	13,478	SH		SOLE	NONE	13,478	0	0
BCE Inc.	COMMON STOCK	05534B760	485	10,950	SH		SOLE	NONE	10,950	0	0
Becton Dickinson Co	COMMON STOCK	075887109	174	950	SH		SOLE	NONE	950	0	0
Berkshire Hathaway Cl A	COMMON STOCK	084670108	5,247	21	SH		SOLE	NONE	21	0	0
Berkshire Hathaway Cl B	COMMON STOCK	084670702	10,980	65,876	SH		SOLE	NONE	65,876	0	0
Black Diamond Inc.	COMMON STOCK	09202G101	141	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	406	2,295	SH		SOLE	NONE	2,295	0	0
BP p.l.c.	COMMON STOCK	055622104	283	8,200	SH		SOLE	NONE	8,200	0	0
Bristol Myers Squibb	COMMON STOCK	110122108	1,817	33,414	SH		SOLE	NONE	33,414	0	0
Brixmor Property Group Inc.	REIT	11120U105	1,028	47,905	SH		SOLE	NONE	47,905	0	0
Broadridge Financial Solutions	COMMON STOCK	11133T103	194	2,850	SH		SOLE	NONE	2,850	0	0
Campbell Soup Company	COMMON STOCK	134429109	417	7,282	SH		SOLE	NONE	7,282	0	0
Canadian National Railway Co.	COMMON STOCK	136375102	325	4,400	SH		SOLE	NONE	4,400	0	0
Carriage Services	COMMON STOCK	143905107	163	6,000	SH		SOLE	NONE	6,000	0	0
Central Fund of Canada Ltd.	ETF/ETN	153501101	244	19,000	SH		SOLE	NONE	19,000	0	0
ChevronTexaco	COMMON STOCK	166764100	1,467	13,666	SH		SOLE	NONE	13,666	0	0
Cisco Systems	COMMON STOCK	17275R102	567	16,764	SH		SOLE	NONE	16,764	0	0
City Office Reit Red PFD Ser A	PREFERRED STOCK	178587200	264	10,500	SH		SOLE	NONE	10,500	0	0
Clorox Company	COMMON STOCK	189054109	782	5,801	SH		SOLE	NONE	5,801	0	0
Coca-Cola Bottling	COMMON STOCK	191098102	108	525	SH		SOLE	NONE	525	0	0
Coca-Cola Company	COMMON STOCK	191216100	1,027	24,201	SH		SOLE	NONE	24,201	0	0
Coca-Cola European Partners PL	COMMON STOCK	G25839104	380	10,095	SH		SOLE	NONE	10,095	0	0
Comcast Corporation	COMMON STOCK	20030N101	1,891	50,300	SH		SOLE	NONE	50,300	0	0
Conoco Phillips	COMMON STOCK	718507106	102	2,040	SH		SOLE	NONE	2,040	0	0
Consolidated Edison	COMMON STOCK	209115104	153	1,967	SH		SOLE	NONE	1,967	0	0
Corning Inc	COMMON STOCK	219350105	167	6,200	SH		SOLE	NONE	6,200	0	0
Costco Wholesale	COMMON STOCK	22160K105	1,131	6,744	SH		SOLE	NONE	6,744	0	0
Deere & Company	COMMON STOCK	244199105	573	5,261	SH		SOLE	NONE	5,261	0	0
Delta Air Lines Inc.	COMMON STOCK	247361702	100	2,185	SH		SOLE	NONE	2,185	0	0
Diageo PLC	COMMON STOCK	25243Q205	258	2,235	SH		SOLE	NONE	2,235	0	0
Dominion Resources	COMMON STOCK	25746U109	669	8,627	SH		SOLE	NONE	8,627	0	0
Du Pont	COMMON STOCK	263534109	2,188	27,240	SH		SOLE	NONE	27,240	0	0
Duke Energy	COMMON STOCK	264399106	211	2,575	SH		SOLE	NONE	2,575	0	0
Edwards Lifesciences	COMMON STOCK	28176E108	188	2,000	SH		SOLE	NONE	2,000	0	0
Eli Lilly	COMMON STOCK	532457108	143	1,700	SH		SOLE	NONE	1,700	0	0
Enbridge Inc	COMMON STOCK	29250N105	146	3,480	SH		SOLE	NONE	3,480	0	0
EOG Resources	COMMON STOCK	26875P101	102	1,044	SH		SOLE	NONE	1,044	0	0
Equity Residential	REIT	29476L107	162	2,600	SH		SOLE	NONE	2,600	0	0
Eversource Energy	COMMON STOCK	30040W108	956	16,265	SH		SOLE	NONE	16,265	0	0
Express Scripts Holding Co.	COMMON STOCK	302182100	107	1,621	SH		SOLE	NONE	1,621	0	0
Exxon Mobil	COMMON STOCK	30231G102	1,576	19,220	SH		SOLE	NONE	19,220	0	0
Facebook Inc	COMMON STOCK	30303M102	509	3,586	SH		SOLE	NONE	3,586	0	0
Fedex Corp	COMMON STOCK	31428X106	927	4,750	SH		SOLE	NONE	4,750	0	0
Fiat Chrysler Automobiles N.V.	COMMON STOCK	N31738102	1,149	105,100	SH		SOLE	NONE	105,100	0	0
Flexshares Quality Dividend In	ETF/ETN	33939L860	429	10,505	SH		SOLE	NONE	10,505	0	0
Fomento Economico Mexicano	COMMON STOCK	344419106	4,187	47,297	SH		SOLE	NONE	47,297	0	0
Fresh Del Monte Produce Inc.	COMMON STOCK	G36738105	3,747	63,256	SH		SOLE	NONE	63,256	0	0
Gabelli Global Sml & Md Cap PF	ETF/ETN	36249W203	124	5,000	SH		SOLE	NONE	5,000	0	0
General American Investors Co.	COMMON STOCK	368802104	202	6,036	SH		SOLE	NONE	6,036	0	0
General Electric	COMMON STOCK	369604103	559	18,750	SH		SOLE	NONE	18,750	0	0
General Mills	COMMON STOCK	370334104	3,430	58,119	SH		SOLE	NONE	58,119	0	0
General Motors	COMMON STOCK	37045V100	391	11,053	SH		SOLE	NONE	11,053	0	0
Genuine Parts	COMMON STOCK	372460105	1,218	13,180	SH		SOLE	NONE	13,180	0	0
GlaxoSmithKline Plc Adr	COMMON STOCK	37733W105	133	3,150	SH		SOLE	NONE	3,150	0	0
Hasbro	COMMON STOCK	418056107	324	3,250	SH		SOLE	NONE	3,250	0	0
Helmerich & Payne	COMMON STOCK	423452101	303	4,550	SH		SOLE	NONE	4,550	0	0
Highwoods Properties Inc.	REIT	431284108	737	15,000	SH		SOLE	NONE	15,000	0	0
Home Depot	COMMON STOCK	437076102	983	6,697	SH		SOLE	NONE	6,697	0	0
Honeywell Intl.	COMMON STOCK	438516106	2,387	19,116	SH		SOLE	NONE	19,116	0	0
Host Hotels & Resorts, Inc.	REIT	44107P104	1,293	69,315	SH		SOLE	NONE	69,315	0	0
Houston Wire & Cable Company	COMMON STOCK	44244K109	78	11,500	SH		SOLE	NONE	11,500	0	0
Humana Inc.	COMMON STOCK	444859102	524	2,540	SH		SOLE	NONE	2,540	0	0
Imperial Oil Ltd.	COMMON STOCK	453038408	600	19,676	SH		SOLE	NONE	19,676	0	0
Ingles Markets, Inc.	COMMON STOCK	457030104	1,579	36,601	SH		SOLE	NONE	36,601	0	0
Intel	COMMON STOCK	458140100	952	26,381	SH		SOLE	NONE	26,381	0	0
Intl Paper Co.	COMMON STOCK	460146103	3,508	69,082	SH		SOLE	NONE	69,082	0	0
Investors Title	COMMON STOCK	461804106	886	5,602	SH		SOLE	NONE	5,602	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	968	22,990	SH		SOLE	NONE	22,990	0	0
iShares Global Telecom Fd	ETF/ETN	464287275	1,583	26,617	SH		SOLE	NONE	26,617	0	0
iShares Hong Kong Index Fd	ETF/ETN	464286871	144	6,475	SH		SOLE	NONE	6,475	0	0
iShares MSCI EAFE Minimum Vola	ETF/ETN	46429B689	6,835	103,555	SH		SOLE	NONE	103,555	0	0
iShares MSCI Emerging Markets	ETF/ETN	464286533	173	3,236	SH		SOLE	NONE	3,236	0	0
iShares Russell 1000	ETF/ETN	464287622	273	2,081	SH		SOLE	NONE	2,081	0	0
iShares Russell 1000 Growth In	ETF/ETN	464287614	183	1,606	SH		SOLE	NONE	1,606	0	0
iShares Russell 1000 Value Ind	ETF/ETN	464287598	320	2,781	SH		SOLE	NONE	2,781	0	0
iShares Russell Mid-Cap Index	ETF/ETN	464287499	257	1,374	SH		SOLE	NONE	1,374	0	0
iShares Russell Midcap Value I	ETF/ETN	464287473	360	4,334	SH		SOLE	NONE	4,334	0	0
iShares Tr Russell 2000 Index	ETF/ETN	464287655	111	807	SH		SOLE	NONE	807	0	0
iShares US Preferred Stock	ETF/ETN	464288687	103	2,662	SH		SOLE	NONE	2,662	0	0
ITT Inc.	COMMON STOCK	45073V108	1,040	25,349	SH		SOLE	NONE	25,349	0	0
J P Morgan Chase	COMMON STOCK	46625H100	1,447	16,477	SH		SOLE	NONE	16,477	0	0
JM Smucker	COMMON STOCK	832696405	358	2,730	SH		SOLE	NONE	2,730	0	0
John Bean Technologies	COMMON STOCK	477839104	2,249	25,574	SH		SOLE	NONE	25,574	0	0
Johnson & Johnson	COMMON STOCK	478160104	4,116	33,048	SH		SOLE	NONE	33,048	0	0
Kimberly Clark	COMMON STOCK	494368103	2,399	18,228	SH		SOLE	NONE	18,228	0	0
Kite Realty Group Trust	REIT	49803T300	181	8,400	SH		SOLE	NONE	8,400	0	0
Kraft Heinz Co.	COMMON STOCK	500754106	291	3,201	SH		SOLE	NONE	3,201	0	0
Kroger	COMMON STOCK	501044101	7,435	252,136	SH		SOLE	NONE	252,136	0	0
Laboratory Corp of America Hol	COMMON STOCK	50540R409	947	6,600	SH		SOLE	NONE	6,600	0	0
Liberty Global Inc.	COMMON STOCK	G5480U104	109	3,045	SH		SOLE	NONE	3,045	0	0
Luxfer Holdings PLC	COMMON STOCK	550678106	128	10,500	SH		SOLE	NONE	10,500	0	0
Marathon Petroleum Corp	COMMON STOCK	56585A102	984	19,473	SH		SOLE	NONE	19,473	0	0
Marcus Corp	COMMON STOCK	566330106	473	14,745	SH		SOLE	NONE	14,745	0	0
MartenTransport Ltd.	COMMON STOCK	573075108	496	21,140	SH		SOLE	NONE	21,140	0	0
Matson Navigation Co.	COMMON STOCK	57686G105	737	23,220	SH		SOLE	NONE	23,220	0	0
MDU Resources Group Inc.	COMMON STOCK	552690109	185	6,775	SH		SOLE	NONE	6,775	0	0
Merck & Co Inc	COMMON STOCK	58933Y105	1,903	29,944	SH		SOLE	NONE	29,944	0	0
Microsoft	COMMON STOCK	594918104	5,162	78,378	SH		SOLE	NONE	78,378	0	0
Mid-America Apartment Communit	REIT	59522J103	570	5,600	SH		SOLE	NONE	5,600	0	0
Mine Safety Appliances	COMMON STOCK	602720104	353	5,000	SH		SOLE	NONE	5,000	0	0
Molson Coors Brewing Company	COMMON STOCK	60871R209	3,020	31,556	SH		SOLE	NONE	31,556	0	0
Mondelez International Inc.	COMMON STOCK	609207105	393	9,114	SH		SOLE	NONE	9,114	0	0
Multi Color Corp.	COMMON STOCK	625383104	643	9,051	SH		SOLE	NONE	9,051	0	0
NBT Bancorp Inc	COMMON STOCK	628778102	371	10,000	SH		SOLE	NONE	10,000	0	0
New York Times	COMMON STOCK	650111107	216	15,000	SH		SOLE	NONE	15,000	0	0
NextEra Energy Inc New	COMMON STOCK	65339F101	371	2,888	SH		SOLE	NONE	2,888	0	0
Nike, Inc.	COMMON STOCK	654106103	1,801	32,322	SH		SOLE	NONE	32,322	0	0
Nordstrom Inc.	COMMON STOCK	655664100	3,741	80,323	SH		SOLE	NONE	80,323	0	0
Norfolk Southern Crp	COMMON STOCK	655844108	429	3,830	SH		SOLE	NONE	3,830	0	0
Northrop Grumman Corp.	COMMON STOCK	666807102	5,208	21,897	SH		SOLE	NONE	21,897	0	0
Northwest Natural Gas	COMMON STOCK	667655104	1,002	16,957	SH		SOLE	NONE	16,957	0	0
Novartis AG Adr	COMMON STOCK	66987V109	3,178	42,794	SH		SOLE	NONE	42,794	0	0
NTT Docomo Inc. ADR	COMMON STOCK	62942M201	126	5,400	SH		SOLE	NONE	5,400	0	0
Nuveen CA Muni Advantage Fund	ETF/ETN	67066Y105	144	10,000	SH		SOLE	NONE	10,000	0	0
Oracle	COMMON STOCK	68389X105	295	6,604	SH		SOLE	NONE	6,604	0	0
Park City Group Inc.	COMMON STOCK	700215304	228	18,450	SH		SOLE	NONE	18,450	0	0
Pepsico, Inc.	COMMON STOCK	713448108	6,100	54,530	SH		SOLE	NONE	54,530	0	0
Pfizer Inc.	COMMON STOCK	717081103	1,236	36,125	SH		SOLE	NONE	36,125	0	0
Philip Morris Intl	COMMON STOCK	718172109	310	2,745	SH		SOLE	NONE	2,745	0	0
Pimco ETF Short Maturity Str	ETF/ETN	72201R833	2,155	21,200	SH		SOLE	NONE	21,200	0	0
Portland Gen Elec Co	COMMON STOCK	736508847	952	21,440	SH		SOLE	NONE	21,440	0	0
Potlatch Corp	COMMON STOCK	737630103	457	10,001	SH		SOLE	NONE	10,001	0	0
PowerShares FTSE RAFI US 1000	ETF/ETN	73935X583	6,808	66,436	SH		SOLE	NONE	66,436	0	0
Powershares High Yld Corp Bond	ETF/ETN	73936T557	2,683	142,631	SH		SOLE	NONE	142,631	0	0
PowerShares QQQ	ETF/ETN	631100104	426	3,216	SH		SOLE	NONE	3,216	0	0
PPL Corp.	COMMON STOCK	69351T106	1,221	32,667	SH		SOLE	NONE	32,667	0	0
Procter & Gamble	COMMON STOCK	742718109	1,294	14,398	SH		SOLE	NONE	14,398	0	0
ProLogis	COMMON STOCK	743410102	545	10,500	SH		SOLE	NONE	10,500	0	0
Quest Diagnostics Inc.	COMMON STOCK	74834L100	221	2,250	SH		SOLE	NONE	2,250	0	0
Radisys Corp.	COMMON STOCK	750459109	60	15,000	SH		SOLE	NONE	15,000	0	0
Rayonier	REIT	754907103	1,696	59,860	SH		SOLE	NONE	59,860	0	0
Raytheon	COMMON STOCK	755111507	1,246	8,170	SH		SOLE	NONE	8,170	0	0
Rush Enterprises Cl B	COMMON STOCK	781846308	158	5,065	SH		SOLE	NONE	5,065	0	0
Ryder System, Inc.	COMMON STOCK	783549108	1,026	13,595	SH		SOLE	NONE	13,595	0	0
S & P 500 Index Fund	ETF/ETN	78462F103	1,578	6,692	SH		SOLE	NONE	6,692	0	0
Scana Corp New	COMMON STOCK	80589M102	346	5,288	SH		SOLE	NONE	5,288	0	0
Schlumberger Limited	COMMON STOCK	806857108	743	9,520	SH		SOLE	NONE	9,520	0	0
Seaboard Corp.	COMMON STOCK	811543107	955	229	SH		SOLE	NONE	229	0	0
Sealed Air Corp New	COMMON STOCK	81211K100	2,165	49,674	SH		SOLE	NONE	49,674	0	0
Shiloh Industries Inc.	COMMON STOCK	824543102	143	10,500	SH		SOLE	NONE	10,500	0	0
Signet Jewelers Limited	COMMON STOCK	G81276100	500	7,215	SH		SOLE	NONE	7,215	0	0
Sonoco Products	COMMON STOCK	835495102	2,254	42,584	SH		SOLE	NONE	42,584	0	0
Southern Co	COMMON STOCK	842587107	188	3,770	SH		SOLE	NONE	3,770	0	0
Southwest Air	COMMON STOCK	844741108	284	5,280	SH		SOLE	NONE	5,280	0	0
SPDR S&P Dividend ETF	ETF/ETN	78464A763	129	1,460	SH		SOLE	NONE	1,460	0	0
Starbucks	COMMON STOCK	855244109	999	17,108	SH		SOLE	NONE	17,108	0	0
Starwood Ppty Trust, Inc.	REIT	85571B105	517	22,900	SH		SOLE	NONE	22,900	0	0
Streettracks Gold Shrs	ETF/ETN	78463V107	1,572	13,238	SH		SOLE	NONE	13,238	0	0
Stryker Corp	COMMON STOCK	863667101	3,548	26,954	SH		SOLE	NONE	26,954	0	0
T Rowe Price Group, Inc.	COMMON STOCK	74144T108	134	1,960	SH		SOLE	NONE	1,960	0	0
Texas Instruments	COMMON STOCK	882508104	117	1,450	SH		SOLE	NONE	1,450	0	0
The GEO Group, Inc	REIT	36162J106	475	10,240	SH		SOLE	NONE	10,240	0	0
Time Warner Inc	COMMON STOCK	887317303	147	1,500	SH		SOLE	NONE	1,500	0	0
Tompkins Financial Corp	COMMON STOCK	890110109	137	1,700	SH		SOLE	NONE	1,700	0	0
Travelers Cos Inc.	COMMON STOCK	89417E109	289	2,395	SH		SOLE	NONE	2,395	0	0
Trustco Bk Corp Ny	COMMON STOCK	898349105	181	23,000	SH		SOLE	NONE	23,000	0	0
Twenty-First Century Fox, Cl A	COMMON STOCK	90130A101	292	9,019	SH		SOLE	NONE	9,019	0	0
Twenty-First Century Fox, Cl B	COMMON STOCK	90130A200	575	18,100	SH		SOLE	NONE	18,100	0	0
UGI Corp	COMMON STOCK	902681105	1,447	29,295	SH		SOLE	NONE	29,295	0	0
Unilever PLC	COMMON STOCK	904767704	1,279	25,930	SH		SOLE	NONE	25,930	0	0
Union Pacific Corporation	COMMON STOCK	907818108	5,554	52,436	SH		SOLE	NONE	52,436	0	0
United Technologies Corp.	COMMON STOCK	913017109	2,015	17,953	SH		SOLE	NONE	17,953	0	0
Unitedhealth Group	COMMON STOCK	91324P102	392	2,390	SH		SOLE	NONE	2,390	0	0
Urstadt Biddle Pptys	COMMON STOCK	917286106	946	55,066	SH		SOLE	NONE	55,066	0	0
Urstadt Biddle Pptys 6.75 12/	PREFERRED STOCK	917286809	509	19,775	SH		SOLE	NONE	19,775	0	0
Urstadt Biddle Pptys Inc Cl A	COMMON STOCK	917286205	1,418	68,964	SH		SOLE	NONE	68,964	0	0
Urstadt Biddle Pptys Inc Pfd S	PREFERRED STOCK	917286700	676	26,050	SH		SOLE	NONE	26,050	0	0
US Bancorp	COMMON STOCK	902973304	4,780	92,818	SH		SOLE	NONE	92,818	0	0
V F Corp	COMMON STOCK	918204108	170	3,100	SH		SOLE	NONE	3,100	0	0
Vanguard Consumer Staples ETF	ETF/ETN	92204A207	225	1,600	SH		SOLE	NONE	1,600	0	0
Vanguard Energy ETF	ETF/ETN	92204A306	5,979	61,824	SH		SOLE	NONE	61,824	0	0
Vanguard Extended Mkt ETF	ETF/ETN	922908652	2,399	24,018	SH		SOLE	NONE	24,018	0	0
Vanguard Financials ETF	ETF/ETN	92204A405	1,571	25,983	SH		SOLE	NONE	25,983	0	0
Vanguard Global ex-US Real Est	ETF/ETN	922042676	253	4,750	SH		SOLE	NONE	4,750	0	0
Vanguard Growth ETF	ETF/ETN	922908736	285	2,344	SH		SOLE	NONE	2,344	0	0
Vanguard Health Care ETF	ETF/ETN	92204A504	1,606	11,650	SH		SOLE	NONE	11,650	0	0
Vanguard High Dividend Yield I	ETF/ETN	921946406	16,799	216,345	SH		SOLE	NONE	216,345	0	0
Vanguard Information Technolog	ETF/ETN	92204A702	11,176	82,398	SH		SOLE	NONE	82,398	0	0
Vanguard Intermediate-Term Cor	ETF/ETN	92206C870	808	9,355	SH		SOLE	NONE	9,355	0	0
Vanguard Mega Cap ETF	ETF/ETN	921910873	2,995	37,131	SH		SOLE	NONE	37,131	0	0
Vanguard Mid-Cap Value ETF	ETF/ETN	922908512	722	7,080	SH		SOLE	NONE	7,080	0	0
Vanguard REIT ETF	ETF/ETN	922908553	2,710	32,815	SH		SOLE	NONE	32,815	0	0
Vanguard S&P 500 ETF	ETF/ETN	922908363	8,009	37,020	SH		SOLE	NONE	37,020	0	0
Vanguard Short Term Bond ETF	ETF/ETN	921937827	686	8,600	SH		SOLE	NONE	8,600	0	0
Vanguard Small Cap Value ETF	ETF/ETN	922908611	3,020	24,579	SH		SOLE	NONE	24,579	0	0
Vanguard Total Stock Mkt ETF	ETF/ETN	922908769	27,693	228,267	SH		SOLE	NONE	228,267	0	0
Vanguard Total World Stk Index	ETF/ETN	922042742	3,272	50,170	SH		SOLE	NONE	50,170	0	0
Vanguard Utilities ETF	ETF/ETN	92204A876	1,568	13,924	SH		SOLE	NONE	13,924	0	0
Vanguard Value ETF	ETF/ETN	922908744	170	1,785	SH		SOLE	NONE	1,785	0	0
Vectren Corp	COMMON STOCK	92240G101	1,221	20,833	SH		SOLE	NONE	20,833	0	0
Ventas Inc.	COMMON STOCK	92276F100	325	5,000	SH		SOLE	NONE	5,000	0	0
VeriFone Systems, Inc.	COMMON STOCK	92342Y109	435	23,220	SH		SOLE	NONE	23,220	0	0
Verizon Communications	COMMON STOCK	92343V104	3,153	64,681	SH		SOLE	NONE	64,681	0	0
Visa Inc	COMMON STOCK	92826C839	555	6,242	SH		SOLE	NONE	6,242	0	0
Vodafone Group PLC	COMMON STOCK	92857W100	1,003	37,968	SH		SOLE	NONE	37,968	0	0
Wabash National Corp.	COMMON STOCK	929566107	2,212	106,925	SH		SOLE	NONE	106,925	0	0
Wal-Mart Stores	COMMON STOCK	931142103	1,591	22,073	SH		SOLE	NONE	22,073	0	0
Walt Disney Co.	COMMON STOCK	254687106	4,024	35,489	SH		SOLE	NONE	35,489	0	0
Waste Management	COMMON STOCK	94106L109	904	12,400	SH		SOLE	NONE	12,400	0	0
Wells Fargo & Co	COMMON STOCK	949746101	1,343	24,128	SH		SOLE	NONE	24,128	0	0
Weyerhaeuser	REIT	962166104	2,422	71,264	SH		SOLE	NONE	71,264	0	0
Whirlpool Corp	COMMON STOCK	963320106	1,186	6,920	SH		SOLE	NONE	6,920	0	0
WisdomTree DEFA ETF	ETF/ETN	97717W703	3,643	73,255	SH		SOLE	NONE	73,255	0	0
WisdomTree Emerging Mkts Small	ETF/ETN	97717W281	3,081	68,649	SH		SOLE	NONE	68,649	0	0
Xylem Inc	COMMON STOCK	98419M100	389	7,748	SH		SOLE	NONE	7,748	0	0
Zimmer Biomet Holdings, Inc.	COMMON STOCK	98956P102	181	1,480	SH		SOLE	NONE	1,480	0	0