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	3,849	16,355	SH		SOLE	NONE	16,355	0	0
Abbott Laboratories	COMMON STOCK	002824100	867	15,200	SH		SOLE	NONE	15,200	0	0
AbbVie Inc.	COMMON STOCK	00287Y109	2,355	24,352	SH		SOLE	NONE	24,352	0	0
ABM Industries	COMMON STOCK	000957100	637	16,875	SH		SOLE	NONE	16,875	0	0
Accenture PLC	COMMON STOCK	G1151C101	239	1,560	SH		SOLE	NONE	1,560	0	0
Aircastle Limited	COMMON STOCK	G0129K104	106	4,545	SH		SOLE	NONE	4,545	0	0
Alaska Air Group	COMMON STOCK	011659109	445	6,050	SH		SOLE	NONE	6,050	0	0
Alaska Communications Systems	COMMON STOCK	01167P101	31	11,500	SH		SOLE	NONE	11,500	0	0
Albemarle Corp	COMMON STOCK	012653101	2,531	19,790	SH		SOLE	NONE	19,790	0	0
Alexander & Baldwin	COMMON STOCK	014491104	407	14,687	SH		SOLE	NONE	14,687	0	0
AllianceBernstein Holding L.P.	COMMON STOCK	01881G106	225	9,000	SH		SOLE	NONE	9,000	0	0
Allstate	COMMON STOCK	020002101	137	1,310	SH		SOLE	NONE	1,310	0	0
Alphabet Inc. CL A	COMMON STOCK	02079K305	2,103	1,996	SH		SOLE	NONE	1,996	0	0
Alphabet Inc. CL C	COMMON STOCK	02079K107	3,503	3,348	SH		SOLE	NONE	3,348	0	0
Altria Group	COMMON STOCK	718154107	376	5,259	SH		SOLE	NONE	5,259	0	0
Amazon.com Inc.	COMMON STOCK	023135106	1,141	976	SH		SOLE	NONE	976	0	0
American Express	COMMON STOCK	025816109	1,454	14,639	SH		SOLE	NONE	14,639	0	0
AmerisourceBergen Corp.	COMMON STOCK	03073E105	4,580	49,880	SH		SOLE	NONE	49,880	0	0
Anadarko Pete Corp	COMMON STOCK	032511107	146	2,725	SH		SOLE	NONE	2,725	0	0
Anheuser-Busch InBev	COMMON STOCK	035229103	262	2,350	SH		SOLE	NONE	2,350	0	0
Apollo Commercial Real Estate	REIT	03762U105	535	29,016	SH		SOLE	NONE	29,016	0	0
Apple Computer	COMMON STOCK	037833100	2,807	16,586	SH		SOLE	NONE	16,586	0	0
AptarGroup Inc	COMMON STOCK	038336103	129	1,500	SH		SOLE	NONE	1,500	0	0
Archer Daniels Midland	COMMON STOCK	039483102	305	7,600	SH		SOLE	NONE	7,600	0	0
Armada Hoffler Properties, Inc	REIT	04208T108	353	22,700	SH		SOLE	NONE	22,700	0	0
AT&T	COMMON STOCK	00206R102	427	10,994	SH		SOLE	NONE	10,994	0	0
Automatic Data Processing	COMMON STOCK	053015103	588	5,020	SH		SOLE	NONE	5,020	0	0
Baldwin & Lyons Inc CL B	COMMON STOCK	057755209	138	5,750	SH		SOLE	NONE	5,750	0	0
Ball Corp	COMMON STOCK	058498106	2,108	55,696	SH		SOLE	NONE	55,696	0	0
Bank of America	COMMON STOCK	060505104	416	14,100	SH		SOLE	NONE	14,100	0	0
Bank of New York Mellon	COMMON STOCK	064058100	2,846	52,848	SH		SOLE	NONE	52,848	0	0
Bank of Nova Scotia	COMMON STOCK	064149107	926	14,353	SH		SOLE	NONE	14,353	0	0
BCE Inc.	COMMON STOCK	05534B760	562	11,700	SH		SOLE	NONE	11,700	0	0
Becton Dickinson Co	COMMON STOCK	075887109	171	800	SH		SOLE	NONE	800	0	0
Berkshire Hathaway Cl A	COMMON STOCK	084670108	5,952	20	SH		SOLE	NONE	20	0	0
Berkshire Hathaway Cl B	COMMON STOCK	084670702	13,204	66,615	SH		SOLE	NONE	66,615	0	0
Bluerock Residential PFD A	COMMON STOCK	09627J508	140	5,300	SH		SOLE	NONE	5,300	0	0
Boeing	COMMON STOCK	097023105	608	2,060	SH		SOLE	NONE	2,060	0	0
BP p.l.c.	COMMON STOCK	055622104	425	10,110	SH		SOLE	NONE	10,110	0	0
Bristol Myers Squibb	COMMON STOCK	110122108	2,035	33,202	SH		SOLE	NONE	33,202	0	0
Brixmor Property Group Inc.	REIT	11120U105	352	18,875	SH		SOLE	NONE	18,875	0	0
Broadridge Financial Solutions	COMMON STOCK	11133T103	258	2,850	SH		SOLE	NONE	2,850	0	0
Canadian National Railway Co.	COMMON STOCK	136375102	295	3,572	SH		SOLE	NONE	3,572	0	0
Canon Inc.	COMMON STOCK	138006309	123	3,300	SH		SOLE	NONE	3,300	0	0
Carriage Services	COMMON STOCK	143905107	158	6,150	SH		SOLE	NONE	6,150	0	0
Caterpillar	COMMON STOCK	149123101	152	965	SH		SOLE	NONE	965	0	0
Central Fund of Canada Ltd.	ETF/ETN	153501101	255	19,001	SH		SOLE	NONE	19,001	0	0
ChevronTexaco	COMMON STOCK	166764100	1,616	12,905	SH		SOLE	NONE	12,905	0	0
Cisco Systems	COMMON STOCK	17275R102	539	14,073	SH		SOLE	NONE	14,073	0	0
City Office Reit Red PFD Ser A	PREFERRED STOCK	178587200	264	10,500	SH		SOLE	NONE	10,500	0	0
Clarus Corp.	COMMON STOCK	18270P109	167	21,296	SH		SOLE	NONE	21,296	0	0
Clorox Company	COMMON STOCK	189054109	732	4,923	SH		SOLE	NONE	4,923	0	0
Coca-Cola Company	COMMON STOCK	191216100	179	3,900	SH		SOLE	NONE	3,900	0	0
Comcast Corporation	COMMON STOCK	20030N101	2,700	67,416	SH		SOLE	NONE	67,416	0	0
Conoco Phillips	COMMON STOCK	718507106	101	1,840	SH		SOLE	NONE	1,840	0	0
Consolidated Edison	COMMON STOCK	209115104	149	1,750	SH		SOLE	NONE	1,750	0	0
Corning Inc	COMMON STOCK	219350105	195	6,100	SH		SOLE	NONE	6,100	0	0
Costco Wholesale	COMMON STOCK	22160K105	1,661	8,923	SH		SOLE	NONE	8,923	0	0
Deere & Company	COMMON STOCK	244199105	792	5,061	SH		SOLE	NONE	5,061	0	0
Delta Air Lines Inc.	COMMON STOCK	247361702	106	1,885	SH		SOLE	NONE	1,885	0	0
Diageo PLC	COMMON STOCK	25243Q205	312	2,135	SH		SOLE	NONE	2,135	0	0
Dominion Resources	COMMON STOCK	25746U109	634	7,827	SH		SOLE	NONE	7,827	0	0
DowDuPont Inc.	COMMON STOCK	26078J100	2,416	33,918	SH		SOLE	NONE	33,918	0	0
Duke Energy	COMMON STOCK	264399106	550	6,538	SH		SOLE	NONE	6,538	0	0
Edwards Lifesciences	COMMON STOCK	28176E108	197	1,750	SH		SOLE	NONE	1,750	0	0
EOG Resources	COMMON STOCK	26875P101	113	1,044	SH		SOLE	NONE	1,044	0	0
Equity Residential	REIT	29476L107	108	1,700	SH		SOLE	NONE	1,700	0	0
Eversource Energy	COMMON STOCK	30040W108	967	15,310	SH		SOLE	NONE	15,310	0	0
Exelon	COMMON STOCK	30161N101	118	3,000	SH		SOLE	NONE	3,000	0	0
Express Scripts Holding Co.	COMMON STOCK	302182100	113	1,510	SH		SOLE	NONE	1,510	0	0
Exxon Mobil	COMMON STOCK	30231G102	1,633	19,520	SH		SOLE	NONE	19,520	0	0
Facebook Inc	COMMON STOCK	30303M102	644	3,651	SH		SOLE	NONE	3,651	0	0
Fedex Corp	COMMON STOCK	31428X106	1,185	4,750	SH		SOLE	NONE	4,750	0	0
Fiat Chrysler Automobiles N.V.	COMMON STOCK	N31738102	1,986	111,350	SH		SOLE	NONE	111,350	0	0
Firstenergy Corp	COMMON STOCK	337932107	122	4,000	SH		SOLE	NONE	4,000	0	0
Flexshares Quality Dividend In	ETF/ETN	33939L860	519	11,530	SH		SOLE	NONE	11,530	0	0
Fomento Economico Mexicano	COMMON STOCK	344419106	4,457	47,470	SH		SOLE	NONE	47,470	0	0
Fresh Del Monte Produce Inc.	COMMON STOCK	G36738105	2,886	60,551	SH		SOLE	NONE	60,551	0	0
Gabelli Global Sml & Md Cap PF	ETF/ETN	36249W203	127	5,000	SH		SOLE	NONE	5,000	0	0
General American Investors Co.	COMMON STOCK	368802104	208	6,036	SH		SOLE	NONE	6,036	0	0
General Electric	COMMON STOCK	369604103	226	12,950	SH		SOLE	NONE	12,950	0	0
General Mills	COMMON STOCK	370334104	2,975	50,169	SH		SOLE	NONE	50,169	0	0
General Motors	COMMON STOCK	37045V100	490	11,950	SH		SOLE	NONE	11,950	0	0
GlaxoSmithKline Plc Adr	COMMON STOCK	37733W105	112	3,150	SH		SOLE	NONE	3,150	0	0
Goldman Sachs TreasuryAccess 0	ETF/ETN	381430529	1,940	19,404	SH		SOLE	NONE	19,404	0	0
H&E Equipment Services, Inc.	COMMON STOCK	404030108	163	4,000	SH		SOLE	NONE	4,000	0	0
Hanesbrands Inc.	COMMON STOCK	410345102	3,855	184,340	SH		SOLE	NONE	184,340	0	0
Hasbro	COMMON STOCK	418056107	241	2,650	SH		SOLE	NONE	2,650	0	0
Hexcel Corp.	COMMON STOCK	428291108	5,034	81,385	SH		SOLE	NONE	81,385	0	0
Highwoods Properties Inc.	REIT	431284108	733	14,400	SH		SOLE	NONE	14,400	0	0
Home Depot	COMMON STOCK	437076102	1,290	6,806	SH		SOLE	NONE	6,806	0	0
Honeywell Intl.	COMMON STOCK	438516106	3,226	21,036	SH		SOLE	NONE	21,036	0	0
Host Hotels & Resorts, Inc.	RET	44107P104	1,453	73,175	SH		SOLE	NONE	73,175	0	0
Humana Inc.	COMMON STOCK	444859102	211	850	SH		SOLE	NONE	850	0	0
Imperial Oil Ltd.	COMMON STOCK	453038408	226	7,250	SH		SOLE	NONE	7,250	0	0
Ingles Markets, Inc.	COMMON STOCK	457030104	1,363	39,391	SH		SOLE	NONE	39,391	0	0
Intel	COMMON STOCK	458140100	1,165	25,231	SH		SOLE	NONE	25,231	0	0
Intl Paper Co.	COMMON STOCK	460146103	3,562	61,477	SH		SOLE	NONE	61,477	0	0
Investors Title	COMMON STOCK	461804106	895	4,512	SH		SOLE	NONE	4,512	0	0
iShares 1-3 Yr Treas Index Fd	ETF/ETN	464287457	436	5,200	SH		SOLE	NONE	5,200	0	0
iShares DJ US Oil Equip & Svcs	ETF/ETN	464288844	435	12,120	SH		SOLE	NONE	12,120	0	0
iShares Edge MSCI Multifactor	ETF/ETN	46434V274	556	19,288	SH		SOLE	NONE	19,288	0	0
iShares Edge MSCI USA Quality	ETF/ETN	46432F339	207	2,500	SH		SOLE	NONE	2,500	0	0
iShares Global Telecom Fd	ETF/ETN	464287275	1,311	21,652	SH		SOLE	NONE	21,652	0	0
iShares Hong Kong Index Fd	ETF/ETN	464286871	165	6,475	SH		SOLE	NONE	6,475	0	0
iShares MSCI EAFE Minimum Vola	ETF/ETN	46429B689	7,944	108,855	SH		SOLE	NONE	108,855	0	0
iShares MSCI Emerging Markets	ETF/ETN	464286533	186	3,061	SH		SOLE	NONE	3,061	0	0
iShares MSCI South Korea Index	ETF/ETN	464286772	142	1,900	SH		SOLE	NONE	1,900	0	0
iShares Russell 1000	ETF/ETN	464287622	282	1,899	SH		SOLE	NONE	1,899	0	0
iShares Russell 1000 Growth In	ETF/ETN	464287614	216	1,606	SH		SOLE	NONE	1,606	0	0
iShares Russell 1000 Value Ind	ETF/ETN	464287598	340	2,738	SH		SOLE	NONE	2,738	0	0
iShares Russell Mid-Cap Index	ETF/ETN	464287499	271	1,303	SH		SOLE	NONE	1,303	0	0
iShares Russell Midcap Value I	ETF/ETN	464287473	380	4,266	SH		SOLE	NONE	4,266	0	0
iShares Short Maturity Bond ET	ETF/ETN	46431W507	150	3,000	SH		SOLE	NONE	3,000	0	0
iShares Tr Russell 2000 Index	ETF/ETN	464287655	123	807	SH		SOLE	NONE	807	0	0
iShares US Preferred Stock	ETF/ETN	464288687	121	3,174	SH		SOLE	NONE	3,174	0	0
ITT Inc.	COMMON STOCK	45073V108	1,029	19,274	SH		SOLE	NONE	19,274	0	0
J P Morgan Chase	COMMON STOCK	46625H100	2,159	20,189	SH		SOLE	NONE	20,189	0	0
JM Smucker	COMMON STOCK	832696405	297	2,387	SH		SOLE	NONE	2,387	0	0
John Bean Technologies	COMMON STOCK	477839104	2,506	22,619	SH		SOLE	NONE	22,619	0	0
John Hancock Multifactor Mid C	ETF/ETN	47804J206	102	3,000	SH		SOLE	NONE	3,000	0	0
Johnson & Johnson	COMMON STOCK	478160104	4,542	32,506	SH		SOLE	NONE	32,506	0	0
Kimberly Clark	COMMON STOCK	494368103	1,946	16,130	SH		SOLE	NONE	16,130	0	0
Kraft Heinz Co.	COMMON STOCK	500754106	244	3,133	SH		SOLE	NONE	3,133	0	0
Kroger	COMMON STOCK	501044101	6,922	252,161	SH		SOLE	NONE	252,161	0	0
Laboratory Corp of America Hol	COMMON STOCK	50540R409	1,045	6,550	SH		SOLE	NONE	6,550	0	0
Luxfer Holdings PLC	COMMON STOCK	550678106	158	10,000	SH		SOLE	NONE	10,000	0	0
Marathon Petroleum Corp	COMMON STOCK	56585A102	1,568	23,758	SH		SOLE	NONE	23,758	0	0
Marriott International, Inc.	COMMON STOCK	571903202	147	1,080	SH		SOLE	NONE	1,080	0	0
MartenTransport Ltd.	COMMON STOCK	573075108	691	34,029	SH		SOLE	NONE	34,029	0	0
Matson Navigation Co.	COMMON STOCK	57686G105	620	20,762	SH		SOLE	NONE	20,762	0	0
Merck & Co Inc	COMMON STOCK	58933Y105	1,613	28,669	SH		SOLE	NONE	28,669	0	0
Microsoft	COMMON STOCK	594918104	6,527	76,303	SH		SOLE	NONE	76,303	0	0
Mid-America Apartment Communit	REIT	59522J103	568	5,650	SH		SOLE	NONE	5,650	0	0
Mine Safety Appliances	COMMON STOCK	602720104	388	5,000	SH		SOLE	NONE	5,000	0	0
Molson Coors Brewing Company	COMMON STOCK	60871R209	3,081	37,541	SH		SOLE	NONE	37,541	0	0
Mondelez International Inc.	COMMON STOCK	609207105	381	8,906	SH		SOLE	NONE	8,906	0	0
Multi Color Corp.	COMMON STOCK	625383104	618	8,251	SH		SOLE	NONE	8,251	0	0
NBT Bancorp Inc	COMMON STOCK	628778102	368	10,000	SH		SOLE	NONE	10,000	0	0
New York Times	COMMON STOCK	650111107	278	15,000	SH		SOLE	NONE	15,000	0	0
NextEra Energy Inc New	COMMON STOCK	65339F101	451	2,888	SH		SOLE	NONE	2,888	0	0
Nike, Inc.	COMMON STOCK	654106103	2,032	32,488	SH		SOLE	NONE	32,488	0	0
Nordstrom Inc.	COMMON STOCK	655664100	3,719	78,493	SH		SOLE	NONE	78,493	0	0
Norfolk Southern Crp	COMMON STOCK	655844108	548	3,780	SH		SOLE	NONE	3,780	0	0
Northrop Grumman Corp.	COMMON STOCK	666807102	4,920	16,032	SH		SOLE	NONE	16,032	0	0
Novartis AG Adr	COMMON STOCK	66987V109	3,702	44,094	SH		SOLE	NONE	44,094	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	143	10,000	SH		SOLE	NONE	10,000	0	0
Oracle	COMMON STOCK	68389X105	343	7,262	SH		SOLE	NONE	7,262	0	0
Park City Group Inc.	COMMON STOCK	700215304	176	18,450	SH		SOLE	NONE	18,450	0	0
Pepsico, Inc.	COMMON STOCK	713448108	6,662	55,555	SH		SOLE	NONE	55,555	0	0
Pfizer Inc.	COMMON STOCK	717081103	1,421	39,243	SH		SOLE	NONE	39,243	0	0
Philip Morris Intl	COMMON STOCK	718172109	260	2,460	SH		SOLE	NONE	2,460	0	0
Pimco ETF Short Maturity Str	ETF/ETN	72201R833	1,999	19,680	SH		SOLE	NONE	19,680	0	0
Pope Resources a Delaware LP	COMMON STOCK	732857107	133	1,900	SH		SOLE	NONE	1,900	0	0
Portland Gen Elec Co	COMMON STOCK	736508847	973	21,340	SH		SOLE	NONE	21,340	0	0
Potlatch Corp	COMMON STOCK	737630103	439	8,801	SH		SOLE	NONE	8,801	0	0
PowerShares FTSE RAFI US 1000	ETF/ETN	73935X583	8,476	74,628	SH		SOLE	NONE	74,628	0	0
Powershares High Yield Corp Bo	ETF/ETN	73936T557	2,869	151,390	SH		SOLE	NONE	151,390	0	0
PowerShares QQQ	ETF/ETN	631100104	613	3,937	SH		SOLE	NONE	3,937	0	0
PPL Corp.	COMMON STOCK	69351T106	1,023	33,067	SH		SOLE	NONE	33,067	0	0
Procter & Gamble	COMMON STOCK	742718109	1,192	12,972	SH		SOLE	NONE	12,972	0	0
ProLogis	COMMON STOCK	743410102	600	9,300	SH		SOLE	NONE	9,300	0	0
Quest Diagnostics Inc.	COMMON STOCK	74834L100	177	1,800	SH		SOLE	NONE	1,800	0	0
Radisys Corp.	COMMON STOCK	750459109	14	14,000	SH		SOLE	NONE	14,000	0	0
Rayonier	COMMON STOCK	754907103	2,123	67,111	SH		SOLE	NONE	67,111	0	0
Raytheon	COMMON STOCK	755111507	1,662	8,850	SH		SOLE	NONE	8,850	0	0
Royal Dutch Shell Cl A	COMMON STOCK	780259206	267	4,000	SH		SOLE	NONE	4,000	0	0
Rush Enterprises Cl B	COMMON STOCK	781846308	157	3,250	SH		SOLE	NONE	3,250	0	0
S & P 500 Index Fund	ETF/ETN	78462F103	1,786	6,692	SH		SOLE	NONE	6,692	0	0
Schlumberger Limited	COMMON STOCK	806857108	657	9,750	SH		SOLE	NONE	9,750	0	0
Seaboard Corp.	COMMON STOCK	811543107	1,032	234	SH		SOLE	NONE	234	0	0
Seagate Technology	COMMON STOCK	G7945J104	172	4,100	SH		SOLE	NONE	4,100	0	0
Sonoco Products	COMMON STOCK	835495102	2,352	44,254	SH		SOLE	NONE	44,254	0	0
Southwest Air	COMMON STOCK	844741108	346	5,280	SH		SOLE	NONE	5,280	0	0
SPDR S&P Dividend ETF	ETF/ETN	78464A763	138	1,460	SH		SOLE	NONE	1,460	0	0
Starbucks	COMMON STOCK	855244109	929	16,170	SH		SOLE	NONE	16,170	0	0
Starwood Ppty Trust, Inc.	REIT	85571B105	1,255	58,800	SH		SOLE	NONE	58,800	0	0
Statoil Hydro Asa Adr	COMMON STOCK	85771P102	131	6,100	SH		SOLE	NONE	6,100	0	0
Streettracks Gold Shrs	ETF/ETN	78463V107	1,980	16,013	SH		SOLE	NONE	16,013	0	0
Stryker Corp	COMMON STOCK	863667101	3,979	25,700	SH		SOLE	NONE	25,700	0	0
Superior Industries Internatio	COMMON STOCK	868168105	282	19,000	SH		SOLE	NONE	19,000	0	0
T Rowe Price Group, Inc.	COMMON STOCK	74144T108	206	1,960	SH		SOLE	NONE	1,960	0	0
TETRA Technologies Inc.	COMMON STOCK	88162F105	85	20,000	SH		SOLE	NONE	20,000	0	0
Texas Instruments	COMMON STOCK	882508104	100	950	SH		SOLE	NONE	950	0	0
Time Warner Inc	COMMON STOCK	887317303	137	1,500	SH		SOLE	NONE	1,500	0	0
Tompkins Financial Corp	COMMON STOCK	890110109	138	1,700	SH		SOLE	NONE	1,700	0	0
Travelers Cos Inc.	COMMON STOCK	89417E109	325	2,395	SH		SOLE	NONE	2,395	0	0
Trustco Bk Corp Ny	COMMON STOCK	898349105	212	23,000	SH		SOLE	NONE	23,000	0	0
Twenty-First Century Fox, Cl B	COMMON STOCK	90130A200	136	4,000	SH		SOLE	NONE	4,000	0	0
UGI Corp	COMMON STOCK	902681105	1,033	22,001	SH		SOLE	NONE	22,001	0	0
UMH Pptys Inc PFD C 6.750	PREFERRED STOCK	903002400	135	5,000	SH		SOLE	NONE	5,000	0	0
Unilever PLC	COMMON STOCK	904767704	1,027	18,550	SH		SOLE	NONE	18,550	0	0
Union Pacific Corporation	COMMON STOCK	907818108	6,918	51,590	SH		SOLE	NONE	51,590	0	0
United Technologies Corp.	COMMON STOCK	913017109	2,214	17,353	SH		SOLE	NONE	17,353	0	0
Unitedhealth Group	COMMON STOCK	91324P102	406	1,840	SH		SOLE	NONE	1,840	0	0
Urstadt Biddle Pptys	COMMON STOCK	917286106	995	58,680	SH		SOLE	NONE	58,680	0	0
Urstadt Biddle Pptys 6.75 12/	PREFERRED STOCK	917286809	571	21,775	SH		SOLE	NONE	21,775	0	0
Urstadt Biddle Pptys Inc Cl A	COMMON STOCK	917286205	2,004	92,164	SH		SOLE	NONE	92,164	0	0
Urstadt Biddle Pptys Inc Cum P	PREFERRED STOCK	917286882	889	34,000	SH		SOLE	NONE	34,000	0	0
US Bancorp	COMMON STOCK	902973304	4,868	90,846	SH		SOLE	NONE	90,846	0	0
V F Corp	COMMON STOCK	918204108	229	3,100	SH		SOLE	NONE	3,100	0	0
Vanguard Energy ETF	ETF/ETN	92204A306	3,920	39,618	SH		SOLE	NONE	39,618	0	0
Vanguard Extended Mkt ETF	ETF/ETN	922908652	2,643	23,652	SH		SOLE	NONE	23,652	0	0
Vanguard Financials ETF	ETF/ETN	92204A405	1,722	24,583	SH		SOLE	NONE	24,583	0	0
Vanguard FTSE All World ex-US	ETF/ETN	922042718	2,222	18,640	SH		SOLE	NONE	18,640	0	0
Vanguard FTSE Emerging Mkts ET	ETF/ETN	922042858	157	3,416	SH		SOLE	NONE	3,416	0	0
Vanguard Global ex-US Real Est	ETF/ETN	922042676	372	6,150	SH		SOLE	NONE	6,150	0	0
Vanguard Growth ETF	ETF/ETN	922908736	316	2,247	SH		SOLE	NONE	2,247	0	0
Vanguard Health Care ETF	ETF/ETN	92204A504	1,742	11,300	SH		SOLE	NONE	11,300	0	0
Vanguard High Dividend Yield I	ETF/ETN	921946406	18,271	213,370	SH		SOLE	NONE	213,370	0	0
Vanguard Information Technolog	ETF/ETN	92204A702	15,918	96,633	SH		SOLE	NONE	96,633	0	0
Vanguard Intermediate-Term Cor	ETF/ETN	92206C870	842	9,630	SH		SOLE	NONE	9,630	0	0
Vanguard Mega Cap ETF	ETF/ETN	921910873	3,290	35,843	SH		SOLE	NONE	35,843	0	0
Vanguard Mid Cap ETF	ETF/ETN	922908629	170	1,100	SH		SOLE	NONE	1,100	0	0
Vanguard Mid-Cap Value ETF	ETF/ETN	922908512	797	7,142	SH		SOLE	NONE	7,142	0	0
Vanguard REIT ETF	ETF/ETN	922908553	3,010	36,278	SH		SOLE	NONE	36,278	0	0
Vanguard S&P 500 ETF	ETF/ETN	922908363	9,921	40,448	SH		SOLE	NONE	40,448	0	0
Vanguard Short Term Bond ETF	ETF/ETN	921937827	1,032	13,050	SH		SOLE	NONE	13,050	0	0
Vanguard Small Cap Value ETF	ETF/ETN	922908611	3,520	26,510	SH		SOLE	NONE	26,510	0	0
Vanguard Total International S	ETF/ETN	921909768	514	9,050	SH		SOLE	NONE	9,050	0	0
Vanguard Total Stock Mkt ETF	ETF/ETN	922908769	32,492	236,738	SH		SOLE	NONE	236,738	0	0
Vanguard Total World Stk Index	ETF/ETN	922042742	4,300	57,907	SH		SOLE	NONE	57,907	0	0
Vanguard Utilities ETF	ETF/ETN	92204A876	1,327	11,384	SH		SOLE	NONE	11,384	0	0
Vanguard Value ETF	ETF/ETN	922908744	191	1,794	SH		SOLE	NONE	1,794	0	0
Vectren Corp	COMMON STOCK	92240G101	1,283	19,733	SH		SOLE	NONE	19,733	0	0
Ventas Inc.	COMMON STOCK	92276F100	139	2,310	SH		SOLE	NONE	2,310	0	0
Verizon Communications	COMMON STOCK	92343V104	3,769	71,216	SH		SOLE	NONE	71,216	0	0
Visa Inc	COMMON STOCK	92826C839	714	6,262	SH		SOLE	NONE	6,262	0	0
Vodafone Group PLC	COMMON STOCK	92857W100	1,558	48,851	SH		SOLE	NONE	48,851	0	0
Wabash National Corp.	COMMON STOCK	929566107	2,265	104,365	SH		SOLE	NONE	104,365	0	0
Wal-Mart Stores	COMMON STOCK	931142103	2,468	24,992	SH		SOLE	NONE	24,992	0	0
Walt Disney Co.	COMMON STOCK	254687106	3,681	34,242	SH		SOLE	NONE	34,242	0	0
Waste Management	COMMON STOCK	94106L109	795	9,217	SH		SOLE	NONE	9,217	0	0
Wells Fargo & Co	COMMON STOCK	949746101	1,465	24,139	SH		SOLE	NONE	24,139	0	0
Westport Fuel Systems Inc.	COMMON STOCK	960908309	38	10,000	SH		SOLE	NONE	10,000	0	0
Weyerhaeuser	REIT	962166104	1,941	55,044	SH		SOLE	NONE	55,044	0	0
Whirlpool Corp	COMMON STOCK	963320106	1,482	8,785	SH		SOLE	NONE	8,785	0	0
WisdomTree DEFA ETF	ETF/ETN	97717W703	6,233	111,740	SH		SOLE	NONE	111,740	0	0
WisdomTree Emerging Mkts Small	ETF/ETN	97717W281	4,683	89,790	SH		SOLE	NONE	89,790	0	0
Xylem Inc	COMMON STOCK	98419M100	498	7,298	SH		SOLE	NONE	7,298	0	0
Zimmer Biomet Holdings, Inc.	COMMON STOCK	98956P102	167	1,380	SH		SOLE	NONE	1,380	0	0