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
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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	1,142	5,487	SH		SOLE	NONE	5,487	0	0
Abbott Laboratories	COMMON STOCK	002824100	1,886	38,804	SH		SOLE	NONE	38,804	0	0
AbbVie Inc.	COMMON STOCK	00287Y109	1,819	25,082	SH		SOLE	NONE	25,082	0	0
ABM Industries	COMMON STOCK	000957100	592	14,250	SH		SOLE	NONE	14,250	0	0
Accenture PLC	COMMON STOCK	G1151C101	199	1,610	SH		SOLE	NONE	1,610	0	0
Alaska Air Group	COMMON STOCK	011659109	525	5,850	SH		SOLE	NONE	5,850	0	0
Alaska Communications Systems	COMMON STOCK	01167P101	29	13,000	SH		SOLE	NONE	13,000	0	0
Alexander & Baldwin	COMMON STOCK	014491104	695	16,787	SH		SOLE	NONE	16,787	0	0
AllianceBernstein Holding L.P.	COMMON STOCK	01881G106	118	5,000	SH		SOLE	NONE	5,000	0	0
Alphabet Inc. CL A	COMMON STOCK	02079K305	1,874	2,016	SH		SOLE	NONE	2,016	0	0
Alphabet Inc. CL C	COMMON STOCK	02079K107	2,342	2,577	SH		SOLE	NONE	2,577	0	0
Altria Group	COMMON STOCK	718154107	413	5,546	SH		SOLE	NONE	5,546	0	0
Amazon.com Inc.	COMMON STOCK	023135106	1,151	1,189	SH		SOLE	NONE	1,189	0	0
American Express	COMMON STOCK	025816109	1,276	15,152	SH		SOLE	NONE	15,152	0	0
AmerisourceBergen Corp.	COMMON STOCK	03073E105	4,879	51,610	SH		SOLE	NONE	51,610	0	0
Anadarko Pete Corp	COMMON STOCK	032511107	124	2,725	SH		SOLE	NONE	2,725	0	0
Anheuser-Busch InBev	COMMON STOCK	035229103	259	2,350	SH		SOLE	NONE	2,350	0	0
Apollo Commercial Real Estate	REIT	03762U105	549	29,616	SH		SOLE	NONE	29,616	0	0
Apple Computer	COMMON STOCK	037833100	2,400	16,665	SH		SOLE	NONE	16,665	0	0
AptarGroup Inc	COMMON STOCK	038336103	130	1,500	SH		SOLE	NONE	1,500	0	0
Archer Daniels Midland	COMMON STOCK	039483102	339	8,200	SH		SOLE	NONE	8,200	0	0
Armada Hoffler Properties, Inc	REIT	04208T108	294	22,700	SH		SOLE	NONE	22,700	0	0
AT&T	COMMON STOCK	00206R102	453	12,001	SH		SOLE	NONE	12,001	0	0
Automatic Data Processing	COMMON STOCK	053015103	514	5,020	SH		SOLE	NONE	5,020	0	0
Avista Corp.	COMMON STOCK	05379B107	202	4,750	SH		SOLE	NONE	4,750	0	0
Baldwin & Lyons Inc CL B	COMMON STOCK	057755209	169	6,900	SH		SOLE	NONE	6,900	0	0
Ball Corp	COMMON STOCK	058498106	2,364	55,996	SH		SOLE	NONE	55,996	0	0
Bank of America	COMMON STOCK	060505104	354	14,600	SH		SOLE	NONE	14,600	0	0
Bank of New York Mellon	COMMON STOCK	064058100	2,676	52,448	SH		SOLE	NONE	52,448	0	0
Bank of Nova Scotia	COMMON STOCK	064149107	803	13,353	SH		SOLE	NONE	13,353	0	0
Baxter International	COMMON STOCK	071813109	109	1,800	SH		SOLE	NONE	1,800	0	0
BCE Inc.	COMMON STOCK	05534B760	482	10,700	SH		SOLE	NONE	10,700	0	0
Becton Dickinson Co	COMMON STOCK	075887109	176	900	SH		SOLE	NONE	900	0	0
Berkshire Hathaway Cl A	COMMON STOCK	084670108	5,349	21	SH		SOLE	NONE	21	0	0
Berkshire Hathaway Cl B	COMMON STOCK	084670702	11,327	66,880	SH		SOLE	NONE	66,880	0	0
Black Diamond Inc.	COMMON STOCK	09202G101	172	25,796	SH		SOLE	NONE	25,796	0	0
Bluerock Residential PFD A	PREFERRED STOCK	09627J508	141	5,300	SH		SOLE	NONE	5,300	0	0
Boeing	COMMON STOCK	097023105	454	2,295	SH		SOLE	NONE	2,295	0	0
BP p.l.c.	COMMON STOCK	055622104	270	7,800	SH		SOLE	NONE	7,800	0	0
Bristol Myers Squibb	COMMON STOCK	110122108	1,864	33,452	SH		SOLE	NONE	33,452	0	0
Brixmor Property Group Inc.	REIT	11120U105	974	54,495	SH		SOLE	NONE	54,495	0	0
Broadridge Financial Solutions	COMMON STOCK	11133T103	215	2,850	SH		SOLE	NONE	2,850	0	0
Campbell Soup Company	COMMON STOCK	134429109	369	7,082	SH		SOLE	NONE	7,082	0	0
Canadian National Railway Co.	COMMON STOCK	136375102	357	4,400	SH		SOLE	NONE	4,400	0	0
Carriage Services	COMMON STOCK	143905107	166	6,150	SH		SOLE	NONE	6,150	0	0
Caterpillar	COMMON STOCK	149123101	104	965	SH		SOLE	NONE	965	0	0
Central Fund of Canada Ltd.	ETF/ETN	153501101	234	19,000	SH		SOLE	NONE	19,000	0	0
ChevronTexaco	COMMON STOCK	166764100	1,357	13,004	SH		SOLE	NONE	13,004	0	0
Cisco Systems	COMMON STOCK	17275R102	494	15,773	SH		SOLE	NONE	15,773	0	0
City Office Reit Red PFD Ser A	PREFERRED STOCK	178587200	265	10,500	SH		SOLE	NONE	10,500	0	0
Clorox Company	COMMON STOCK	189054109	753	5,651	SH		SOLE	NONE	5,651	0	0
Coca-Cola Company	COMMON STOCK	191216100	1,057	23,571	SH		SOLE	NONE	23,571	0	0
Coca-Cola European Partners PL	COMMON STOCK	G25839104	404	9,945	SH		SOLE	NONE	9,945	0	0
Comcast Corporation	COMMON STOCK	20030N101	2,134	54,826	SH		SOLE	NONE	54,826	0	0
Consolidated Edison	COMMON STOCK	209115104	159	1,967	SH		SOLE	NONE	1,967	0	0
Corning Inc	COMMON STOCK	219350105	186	6,200	SH		SOLE	NONE	6,200	0	0
Costco Wholesale	COMMON STOCK	22160K105	1,104	6,904	SH		SOLE	NONE	6,904	0	0
Deere & Company	COMMON STOCK	244199105	650	5,261	SH		SOLE	NONE	5,261	0	0
Delta Air Lines Inc.	COMMON STOCK	247361702	117	2,185	SH		SOLE	NONE	2,185	0	0
Diageo PLC	COMMON STOCK	25243Q205	268	2,235	SH		SOLE	NONE	2,235	0	0
Dominion Resources	COMMON STOCK	25746U109	630	8,227	SH		SOLE	NONE	8,227	0	0
Du Pont	COMMON STOCK	263534109	2,180	27,010	SH		SOLE	NONE	27,010	0	0
Duke Energy	COMMON STOCK	264399106	210	2,509	SH		SOLE	NONE	2,509	0	0
Edwards Lifesciences	COMMON STOCK	28176E108	231	1,950	SH		SOLE	NONE	1,950	0	0
Enbridge Inc	COMMON STOCK	29250N105	139	3,480	SH		SOLE	NONE	3,480	0	0
Equity Residential	REIT	29476L107	171	2,600	SH		SOLE	NONE	2,600	0	0
Eversource Energy	COMMON STOCK	30040W108	969	15,965	SH		SOLE	NONE	15,965	0	0
Exxon Mobil	COMMON STOCK	30231G102	1,544	19,120	SH		SOLE	NONE	19,120	0	0
Facebook Inc	COMMON STOCK	30303M102	559	3,701	SH		SOLE	NONE	3,701	0	0
Fedex Corp	COMMON STOCK	31428X106	1,032	4,750	SH		SOLE	NONE	4,750	0	0
Fiat Chrysler Automobiles N.V.	COMMON STOCK	N31738102	1,202	113,050	SH		SOLE	NONE	113,050	0	0
Flexshares Quality Dividend In	ETF/ETN	33939L860	477	11,620	SH		SOLE	NONE	11,620	0	0
Fomento Economico Mexicano	COMMON STOCK	344419106	4,663	47,422	SH		SOLE	NONE	47,422	0	0
Fresh Del Monte Produce Inc.	COMMON STOCK	G36738105	3,202	62,901	SH		SOLE	NONE	62,901	0	0
Gabelli Global Sml & Md Cap PF	PREFERRED STOCK	36249W203	127	5,000	SH		SOLE	NONE	5,000	0	0
General American Investors Co.	COMMON STOCK	368802104	207	6,036	SH		SOLE	NONE	6,036	0	0
General Electric	COMMON STOCK	369604103	506	18,750	SH		SOLE	NONE	18,750	0	0
General Mills	COMMON STOCK	370334104	3,126	56,434	SH		SOLE	NONE	56,434	0	0
General Motors	COMMON STOCK	37045V100	452	12,953	SH		SOLE	NONE	12,953	0	0
Genuine Parts	COMMON STOCK	372460105	1,139	12,280	SH		SOLE	NONE	12,280	0	0
GlaxoSmithKline Plc Adr	COMMON STOCK	37733W105	136	3,150	SH		SOLE	NONE	3,150	0	0
Goldman Sachs TreasuryAccess	ETF/ETN	381430529	1,526	15,254	SH		SOLE	NONE	15,254	0	0
Hasbro	COMMON STOCK	418056107	346	3,100	SH		SOLE	NONE	3,100	0	0
Hexcel Corp.	COMMON STOCK	428291108	4,373	82,830	SH		SOLE	NONE	82,830	0	0
Highwoods Properties Inc.	REIT	431284108	761	15,000	SH		SOLE	NONE	15,000	0	0
Home Depot	COMMON STOCK	437076102	1,061	6,917	SH		SOLE	NONE	6,917	0	0
Honeywell Intl.	COMMON STOCK	438516106	2,690	20,181	SH		SOLE	NONE	20,181	0	0
Host Hotels & Resorts, Inc.	REIT	44107P104	1,385	75,815	SH		SOLE	NONE	75,815	0	0
Houston Wire & Cable Company	COMMON STOCK	44244K109	60	11,500	SH		SOLE	NONE	11,500	0	0
Humana Inc.	COMMON STOCK	444859102	602	2,500	SH		SOLE	NONE	2,500	0	0
Imperial Oil Ltd.	COMMON STOCK	453038408	456	15,623	SH		SOLE	NONE	15,623	0	0
Ingles Markets, Inc.	COMMON STOCK	457030104	1,234	37,061	SH		SOLE	NONE	37,061	0	0
Intel	COMMON STOCK	458140100	890	26,381	SH		SOLE	NONE	26,381	0	0
Intl Paper Co.	COMMON STOCK	460146103	3,748	66,207	SH		SOLE	NONE	66,207	0	0
Investors Title	COMMON STOCK	461804106	1,030	5,327	SH		SOLE	NONE	5,327	0	0
iShares 1-3 Yr Treas Index Fd	ETF/ETN	464287457	253	3,000	SH		SOLE	NONE	3,000	0	0
iShares DJ US Oil Equip & Svcs	ETF/ETN	464288844	644	19,090	SH		SOLE	NONE	19,090	0	0
iShares Global Telecom Fd	ETF/ETN	464287275	1,522	26,017	SH		SOLE	NONE	26,017	0	0
iShares Hong Kong Index Fd	ETF/ETN	464286871	152	6,475	SH		SOLE	NONE	6,475	0	0
iShares MSCI EAFE Minimum Vola	ETF/ETN	46429B689	7,328	105,830	SH		SOLE	NONE	105,830	0	0
iShares MSCI Emerging Markets	ETF/ETN	464286533	167	3,020	SH		SOLE	NONE	3,020	0	0
iShares Russell 1000	ETF/ETN	464287622	257	1,899	SH		SOLE	NONE	1,899	0	0
iShares Russell 1000 Growth In	ETF/ETN	464287614	191	1,606	SH		SOLE	NONE	1,606	0	0
iShares Russell 1000 Value Ind	ETF/ETN	464287598	319	2,738	SH		SOLE	NONE	2,738	0	0
iShares Russell Mid-Cap Index	ETF/ETN	464287499	264	1,374	SH		SOLE	NONE	1,374	0	0
iShares Russell Midcap Value I	ETF/ETN	464287473	359	4,266	SH		SOLE	NONE	4,266	0	0
iShares Tr Russell 2000 Index	ETF/ETN	464287655	114	807	SH		SOLE	NONE	807	0	0
iShares US Preferred Stock	ETF/ETN	464288687	202	5,166	SH		SOLE	NONE	5,166	0	0
ITT Inc.	COMMON STOCK	45073V108	982	24,449	SH		SOLE	NONE	24,449	0	0
J P Morgan Chase	COMMON STOCK	46625H100	1,619	17,712	SH		SOLE	NONE	17,712	0	0
JM Smucker	COMMON STOCK	832696405	323	2,730	SH		SOLE	NONE	2,730	0	0
John Bean Technologies	COMMON STOCK	477839104	2,484	25,344	SH		SOLE	NONE	25,344	0	0
Johnson & Johnson	COMMON STOCK	478160104	4,391	33,191	SH		SOLE	NONE	33,191	0	0
Kimberly Clark	COMMON STOCK	494368103	2,320	17,968	SH		SOLE	NONE	17,968	0	0
Kraft Heinz Co.	COMMON STOCK	500754106	268	3,133	SH		SOLE	NONE	3,133	0	0
Kroger	COMMON STOCK	501044101	5,955	255,366	SH		SOLE	NONE	255,366	0	0
Laboratory Corp of America Hol	COMMON STOCK	50540R409	1,017	6,600	SH		SOLE	NONE	6,600	0	0
Luxfer Holdings PLC	COMMON STOCK	550678106	143	11,200	SH		SOLE	NONE	11,200	0	0
Marathon Petroleum Corp	COMMON STOCK	56585A102	1,287	24,591	SH		SOLE	NONE	24,591	0	0
Marcus Corp	COMMON STOCK	566330106	426	14,095	SH		SOLE	NONE	14,095	0	0
Marriott International, Inc.	COMMON STOCK	571903202	133	1,330	SH		SOLE	NONE	1,330	0	0
MartenTransport Ltd.	COMMON STOCK	573075108	571	20,840	SH		SOLE	NONE	20,840	0	0
Matson Navigation Co.	COMMON STOCK	57686G105	686	22,820	SH		SOLE	NONE	22,820	0	0
MDU Resources Group Inc.	COMMON STOCK	552690109	142	5,425	SH		SOLE	NONE	5,425	0	0
Merck & Co Inc	COMMON STOCK	58933Y105	1,919	29,944	SH		SOLE	NONE	29,944	0	0
Microsoft	COMMON STOCK	594918104	5,402	78,372	SH		SOLE	NONE	78,372	0	0
Mid-America Apartment Communit	REIT	59522J103	574	5,450	SH		SOLE	NONE	5,450	0	0
Mine Safety Appliances	COMMON STOCK	602720104	406	5,000	SH		SOLE	NONE	5,000	0	0
Molson Coors Brewing Company	COMMON STOCK	60871R209	2,887	33,436	SH		SOLE	NONE	33,436	0	0
Mondelez International Inc.	COMMON STOCK	609207105	385	8,906	SH		SOLE	NONE	8,906	0	0
Multi Color Corp.	COMMON STOCK	625383104	722	8,851	SH		SOLE	NONE	8,851	0	0
NBT Bancorp Inc	COMMON STOCK	628778102	370	10,000	SH		SOLE	NONE	10,000	0	0
New York Times	COMMON STOCK	650111107	266	15,000	SH		SOLE	NONE	15,000	0	0
NextEra Energy Inc New	COMMON STOCK	65339F101	405	2,888	SH		SOLE	NONE	2,888	0	0
Nike, Inc.	COMMON STOCK	654106103	1,913	32,422	SH		SOLE	NONE	32,422	0	0
Nordstrom Inc.	COMMON STOCK	655664100	3,934	82,243	SH		SOLE	NONE	82,243	0	0
Norfolk Southern Crp	COMMON STOCK	655844108	460	3,780	SH		SOLE	NONE	3,780	0	0
Northrop Grumman Corp.	COMMON STOCK	666807102	5,484	21,362	SH		SOLE	NONE	21,362	0	0
Novartis AG Adr	COMMON STOCK	66987V109	3,685	44,144	SH		SOLE	NONE	44,144	0	0
NTT Docomo Inc. ADR	COMMON STOCK	62942M201	128	5,400	SH		SOLE	NONE	5,400	0	0
Nuveen CA Muni Advantage Fund	ETF/ETN	67066Y105	150	10,000	SH		SOLE	NONE	10,000	0	0
Oracle	COMMON STOCK	68389X105	331	6,604	SH		SOLE	NONE	6,604	0	0
Park City Group Inc.	COMMON STOCK	700215304	224	18,450	SH		SOLE	NONE	18,450	0	0
Pepsico, Inc.	COMMON STOCK	713448108	6,454	55,885	SH		SOLE	NONE	55,885	0	0
Pfizer Inc.	COMMON STOCK	717081103	1,296	38,593	SH		SOLE	NONE	38,593	0	0
Philip Morris Intl	COMMON STOCK	718172109	289	2,460	SH		SOLE	NONE	2,460	0	0
Phillips 66	COMMON STOCK	718546104	160	1,935	SH		SOLE	NONE	1,935	0	0
Pimco ETF Short Maturity Str	ETF/ETN	72201R833	2,106	20,700	SH		SOLE	NONE	20,700	0	0
Portland Gen Elec Co	COMMON STOCK	736508847	975	21,340	SH		SOLE	NONE	21,340	0	0
Potlatch Corp	COMMON STOCK	737630103	439	9,601	SH		SOLE	NONE	9,601	0	0
PowerShares FTSE RAFI US 1000	ETF/ETN	73935X583	7,281	70,438	SH		SOLE	NONE	70,438	0	0
Powershares High Yld Corp Bond	ETF/ETN	73936T557	2,864	150,575	SH		SOLE	NONE	150,575	0	0
PowerShares QQQ	ETF/ETN	631100104	631	4,586	SH		SOLE	NONE	4,586	0	0
PPL Corp.	COMMON STOCK	69351T106	1,207	31,217	SH		SOLE	NONE	31,217	0	0
Procter & Gamble	COMMON STOCK	742718109	1,228	14,096	SH		SOLE	NONE	14,096	0	0
ProLogis	COMMON STOCK	743410102	616	10,500	SH		SOLE	NONE	10,500	0	0
Quest Diagnostics Inc.	COMMON STOCK	74834L100	250	2,250	SH		SOLE	NONE	2,250	0	0
Radisys Corp.	COMMON STOCK	750459109	56	15,000	SH		SOLE	NONE	15,000	0	0
Rayonier	COMMON STOCK	754907103	2,034	70,705	SH		SOLE	NONE	70,705	0	0
Raytheon	COMMON STOCK	755111507	1,405	8,700	SH		SOLE	NONE	8,700	0	0
Rush Enterprises Cl B	COMMON STOCK	781846308	176	4,828	SH		SOLE	NONE	4,828	0	0
Ryder System, Inc.	COMMON STOCK	783549108	924	12,840	SH		SOLE	NONE	12,840	0	0
S & P 500 Index Fund	ETF/ETN	78462F103	1,618	6,692	SH		SOLE	NONE	6,692	0	0
Scana Corp New	COMMON STOCK	80589M102	319	4,755	SH		SOLE	NONE	4,755	0	0
Schlumberger Limited	COMMON STOCK	806857108	698	10,601	SH		SOLE	NONE	10,601	0	0
Seaboard Corp.	COMMON STOCK	811543107	915	229	SH		SOLE	NONE	229	0	0
Sealed Air Corp New	COMMON STOCK	81211K100	2,184	48,784	SH		SOLE	NONE	48,784	0	0
Shiloh Industries Inc.	COMMON STOCK	824543102	123	10,500	SH		SOLE	NONE	10,500	0	0
Sonoco Products	COMMON STOCK	835495102	2,260	43,954	SH		SOLE	NONE	43,954	0	0
Southern Co	COMMON STOCK	842587107	178	3,720	SH		SOLE	NONE	3,720	0	0
Southwest Air	COMMON STOCK	844741108	328	5,280	SH		SOLE	NONE	5,280	0	0
SPDR S&P Dividend ETF	ETF/ETN	78464A763	130	1,460	SH		SOLE	NONE	1,460	0	0
Starbucks	COMMON STOCK	855244109	991	16,990	SH		SOLE	NONE	16,990	0	0
Starwood Ppty Trust, Inc.	REIT	85571B105	613	27,400	SH		SOLE	NONE	27,400	0	0
Streettracks Gold Shrs	ETF/ETN	78463V107	1,749	14,818	SH		SOLE	NONE	14,818	0	0
Stryker Corp	COMMON STOCK	863667101	3,707	26,714	SH		SOLE	NONE	26,714	0	0
Superior Inds Intl	COMMON STOCK	868168105	196	9,540	SH		SOLE	NONE	9,540	0	0
T Rowe Price Group, Inc.	COMMON STOCK	74144T108	145	1,960	SH		SOLE	NONE	1,960	0	0
TETRA Technologies Inc.	COMMON STOCK	88162F105	61	22,000	SH		SOLE	NONE	22,000	0	0
Texas Instruments	COMMON STOCK	882508104	112	1,450	SH		SOLE	NONE	1,450	0	0
The GEO Group, Inc	REIT	36162J106	460	15,551	SH		SOLE	NONE	15,551	0	0
Time Warner Inc	COMMON STOCK	887317303	151	1,500	SH		SOLE	NONE	1,500	0	0
Tompkins Financial Corp	COMMON STOCK	890110109	134	1,700	SH		SOLE	NONE	1,700	0	0
Travelers Cos Inc.	COMMON STOCK	89417E109	303	2,395	SH		SOLE	NONE	2,395	0	0
Trustco Bk Corp Ny	COMMON STOCK	898349105	178	23,000	SH		SOLE	NONE	23,000	0	0
Twenty-First Century Fox, Cl B	COMMON STOCK	90130A200	111	4,000	SH		SOLE	NONE	4,000	0	0
UGI Corp	COMMON STOCK	902681105	1,291	26,676	SH		SOLE	NONE	26,676	0	0
Unilever PLC	COMMON STOCK	904767704	1,376	25,430	SH		SOLE	NONE	25,430	0	0
Union Pacific Corporation	COMMON STOCK	907818108	5,632	51,716	SH		SOLE	NONE	51,716	0	0
United Technologies Corp.	COMMON STOCK	913017109	2,178	17,838	SH		SOLE	NONE	17,838	0	0
Unitedhealth Group	COMMON STOCK	91324P102	415	2,240	SH		SOLE	NONE	2,240	0	0
Urstadt Biddle Pptys	COMMON STOCK	917286106	995	57,700	SH		SOLE	NONE	57,700	0	0
Urstadt Biddle Pptys 6.75 12/	PREFERRED STOCK	917286809	574	21,775	SH		SOLE	NONE	21,775	0	0
Urstadt Biddle Pptys Inc Cl A	COMMON STOCK	917286205	1,827	92,264	SH		SOLE	NONE	92,264	0	0
Urstadt Biddle Pptys Inc Pfd S	PREFERRED STOCK	917286700	740	28,650	SH		SOLE	NONE	28,650	0	0
US Bancorp	COMMON STOCK	902973304	4,867	93,746	SH		SOLE	NONE	93,746	0	0
V F Corp	COMMON STOCK	918204108	179	3,100	SH		SOLE	NONE	3,100	0	0
Vanguard Consumer Staples ETF	ETF/ETN	92204A207	212	1,500	SH		SOLE	NONE	1,500	0	0
Vanguard Energy ETF	ETF/ETN	92204A306	4,782	54,033	SH		SOLE	NONE	54,033	0	0
Vanguard Extended Mkt ETF	ETF/ETN	922908652	2,450	23,952	SH		SOLE	NONE	23,952	0	0
Vanguard Financials ETF	ETF/ETN	92204A405	1,631	26,083	SH		SOLE	NONE	26,083	0	0
Vanguard FTSE All World ex-US	ETF/ETN	922042718	108	1,000	SH		SOLE	NONE	1,000	0	0
Vanguard Global ex-US Real Est	ETF/ETN	922042676	267	4,750	SH		SOLE	NONE	4,750	0	0
Vanguard Growth ETF	ETF/ETN	922908736	298	2,344	SH		SOLE	NONE	2,344	0	0
Vanguard Health Care ETF	ETF/ETN	92204A504	1,717	11,650	SH		SOLE	NONE	11,650	0	0
Vanguard High Dividend Yield I	ETF/ETN	921946406	17,054	218,195	SH		SOLE	NONE	218,195	0	0
Vanguard Information Technolog	ETF/ETN	92204A702	12,321	87,483	SH		SOLE	NONE	87,483	0	0
Vanguard Intermediate-Term Cor	ETF/ETN	92206C870	830	9,480	SH		SOLE	NONE	9,480	0	0
Vanguard Mega Cap ETF	ETF/ETN	921910873	3,053	36,837	SH		SOLE	NONE	36,837	0	0
Vanguard Mid-Cap Value ETF	ETF/ETN	922908512	754	7,327	SH		SOLE	NONE	7,327	0	0
Vanguard REIT ETF	ETF/ETN	922908553	2,845	34,177	SH		SOLE	NONE	34,177	0	0
Vanguard S&P 500 ETF	ETF/ETN	922908363	8,570	38,595	SH		SOLE	NONE	38,595	0	0
Vanguard Short Term Bond ETF	ETF/ETN	921937827	942	11,800	SH		SOLE	NONE	11,800	0	0
Vanguard Small Cap Value ETF	ETF/ETN	922908611	3,391	27,590	SH		SOLE	NONE	27,590	0	0
Vanguard Total International S	ETF/ETN	921909768	376	7,227	SH		SOLE	NONE	7,227	0	0
Vanguard Total Stock Mkt ETF	ETF/ETN	922908769	29,836	239,741	SH		SOLE	NONE	239,741	0	0
Vanguard Total World Stk Index	ETF/ETN	922042742	3,775	55,900	SH		SOLE	NONE	55,900	0	0
Vanguard Utilities ETF	ETF/ETN	92204A876	1,471	12,874	SH		SOLE	NONE	12,874	0	0
Vanguard Value ETF	ETF/ETN	922908744	173	1,787	SH		SOLE	NONE	1,787	0	0
Vectren Corp	COMMON STOCK	92240G101	1,177	20,133	SH		SOLE	NONE	20,133	0	0
Ventas Inc.	COMMON STOCK	92276F100	320	4,610	SH		SOLE	NONE	4,610	0	0
VeriFone Systems, Inc.	COMMON STOCK	92342Y109	504	27,870	SH		SOLE	NONE	27,870	0	0
Verizon Communications	COMMON STOCK	92343V104	2,984	66,822	SH		SOLE	NONE	66,822	0	0
Visa Inc	COMMON STOCK	92826C839	587	6,262	SH		SOLE	NONE	6,262	0	0
Vodafone Group PLC	COMMON STOCK	92857W100	1,276	44,403	SH		SOLE	NONE	44,403	0	0
Wabash National Corp.	COMMON STOCK	929566107	2,343	106,615	SH		SOLE	NONE	106,615	0	0
Wal-Mart Stores	COMMON STOCK	931142103	1,824	24,103	SH		SOLE	NONE	24,103	0	0
Walt Disney Co.	COMMON STOCK	254687106	3,807	35,832	SH		SOLE	NONE	35,832	0	0
Waste Management	COMMON STOCK	94106L109	841	11,467	SH		SOLE	NONE	11,467	0	0
Wells Fargo & Co	COMMON STOCK	949746101	1,302	23,489	SH		SOLE	NONE	23,489	0	0
Weyerhaeuser	REIT	962166104	2,071	61,814	SH		SOLE	NONE	61,814	0	0
Whirlpool Corp	COMMON STOCK	963320106	1,461	7,625	SH		SOLE	NONE	7,625	0	0
WisdomTree DEFA ETF	ETF/ETN	97717W703	5,439	104,800	SH		SOLE	NONE	104,800	0	0
WisdomTree Emerging Mkts Small	ETF/ETN	97717W281	3,691	80,680	SH		SOLE	NONE	80,680	0	0
Xylem Inc	COMMON STOCK	98419M100	427	7,698	SH		SOLE	NONE	7,698	0	0
Zimmer Biomet Holdings, Inc.	COMMON STOCK	98956P102	190	1,480	SH		SOLE	NONE	1,480	0	0