Vision Capital 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
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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
AEGON N V PRP CP SEC 6.375	ps	007924301	709	27,495	SH		SOLE		27,495	0	0
BARCLAYS BK 8.125%ADR F SPONSO	ps	06739h362	272	10,250	SH		SOLE		10,250	0	0
DEUTSCHE BK CONTINGNT CAP TR V	ps	25150L108	203	7,460	SH		SOLE		7,460	0	0
FEDERAL NATL MTG ASSN PFD 8.25	ps	313586737	63	13,800	SH		SOLE		13,800	0	0
GOLDMAN SACHS GP PREFERRED	ps	38143y665	747	37,615	SH		SOLE		37,615	0	0
TCF FINANCIAL PFD 6.45%	ps	872277405	344	13,400	SH		SOLE		13,400	0	0
TCF FINANCIAL PFD 7.50%	ps	872277207	488	18,350	SH		SOLE		18,350	0	0
ABBVIE INC COM	cs	00287Y109	7,741	130,679	SH		SOLE		67,134	0	63,545
ALLERGAN PLC	cs	G0177J108	8,307	26,582	SH		SOLE		12,647	0	13,935
ALPHABET INC CL A	cs	02079K305	18,874	24,259	SH		SOLE		13,404	0	10,855
ALPHABET INC CL C	cs	02079K107	3,632	4,786	SH		SOLE		690	0	4,096
AMAZON COM INC COM	cs	023135106	16,837	24,911	SH		SOLE		15,191	0	9,720
AMERISOURCEBERGEN CORP COM	cs	03073E105	10,146	97,831	SH		SOLE		44,966	0	52,865
AMGEN INC COM	cs	031162100	712	4,384	SH		SOLE		4,384	0	0
APPLE INC COM	cs	037833100	29,694	282,102	SH		SOLE		236,153	0	45,949
ASSOCIATES FIRST CAP CP RESIDU	cs	046008207	0	12,275	SH		SOLE		12,275	0	0
AT&T INC COM	cs	00206R102	228	6,640	SH		SOLE		6,640	0	0
BERKSHIRE HATHAWAY CL A	cs	084670108	9,890	50	SH		SOLE		50	0	0
BERKSHIRE HATHAWAY CL B	cs	084670702	9,363	70,914	SH		SOLE		70,914	0	0
BRISTOL MYERS SQUIBB CO COM	cs	110122108	1,587	23,068	SH		SOLE		23,068	0	0
CARMAX INC COM	cs	143130102	7,128	132,081	SH		SOLE		53,606	0	78,475
CELGENE CORP COM	cs	151020104	7,229	60,363	SH		SOLE		32,698	0	27,665
CHEVRON CORP NEW COM	cs	166764100	298	3,309	SH		SOLE		3,309	0	0
COGNIZANT TECHNOLOGY SOLUTIONS	cs	192446102	4,382	73,005	SH		SOLE		34,925	0	38,080
COSTCO WHSL CORP NEW COM	cs	22160K105	463	2,866	SH		SOLE		2,866	0	0
DISCOVER FINANCIAL SERVICES	cs	254709108	9,172	171,057	SH		SOLE		77,012	0	94,045
DISNEY WALT CO COM DISNEY	cs	254687106	3,769	35,866	SH		SOLE		15,281	0	20,585
DOWNEY FINANCIAL CORP	cs	261018105	0	67,008	SH		SOLE		67,008	0	0
DU PONT E I DE NEMOURS & CO CO	cs	263534109	853	12,810	SH		SOLE		12,810	0	0
ELECTRONIC ARTS INC COM	cs	285512109	3,195	46,490	SH		SOLE		22,115	0	24,375
EXXON MOBIL CORP COM	cs	30231G102	318	4,074	SH		SOLE		4,074	0	0
FACEBOOK INC CL A	cs	30303M102	3,868	36,962	SH		SOLE		18,287	0	18,675
FIREEYE INC	cs	31816Q101	4,790	230,971	SH		SOLE		100,071	0	130,900
GILEAD SCIENCES INC COM	cs	375558103	12,207	120,637	SH		SOLE		56,090	0	64,547
HAVERTY FURNITURE COS	cs	419596101	432	20,154	SH		SOLE		20,154	0	0
HONEYWELL INTL INC COM	cs	438516106	10,104	97,555	SH		SOLE		46,280	0	51,275
IAC INTERACTIVE CORP	cs	44919P508	6,390	106,411	SH		SOLE		50,076	0	56,335
INTEL CORP COM	cs	458140100	1,301	37,762	SH		SOLE		37,762	0	0
KEURIG GREEN MOUNTAIN INC	cs	49271M100	1,588	17,643	SH		SOLE		17,643	0	0
KROGER CO COM	cs	501044101	10,259	245,260	SH		SOLE		112,125	0	133,135
LAUDER ESTEE COS INC CL A	cs	518439104	8,322	94,507	SH		SOLE		49,022	0	45,485
LINKEDIN CORP COM CL A	cs	53578A108	7,950	35,320	SH		SOLE		15,710	0	19,610
MERCHANTS BANCORP	cs	588436105	18	25,667	SH		SOLE		25,667	0	0
MICROSOFT CORP COM	cs	594918104	5,242	94,493	SH		SOLE		94,493	0	0
NVR INC	cs	62944T105	8,670	5,277	SH		SOLE		2,637	0	2,640
ORACLE CORP COM	cs	68389X105	6,911	189,196	SH		SOLE		102,876	0	86,320
PAYPAL HOLDINGS INC	cs	70450Y103	8,418	232,545	SH		SOLE		110,145	0	122,400
PIONEER NAT RES CO COM	cs	723787107	5,706	45,511	SH		SOLE		16,211	0	29,300
PRECISION CASTPARTS CORP COM	cs	740189105	12,459	53,700	SH		SOLE		53,700	0	0
QORVO INC	cs	74736K101	1,258	24,723	SH		SOLE		24,723	0	0
SHERWIN WILLIAMS CO COM	cs	824348106	9,395	36,192	SH		SOLE		16,332	0	19,860
SKECHERS USA INC	cs	830566105	2,690	89,050	SH		SOLE		31,065	0	57,985
SKYWORKS SOLUTIONS INC COM	cs	83088M102	6,523	84,897	SH		SOLE		42,934	0	41,963
STANCORP FINL GROUP INC COM	cs	852891100	228	2,000	SH		SOLE		2,000	0	0
STARBUCKS CORP COM	cs	855244109	11,200	186,575	SH		SOLE		101,870	0	84,705
STARWOOD HOTELS&RESORTS WRLDWD	cs	85590A401	8,486	122,494	SH		SOLE		53,854	0	68,640
STERICYCLE INC COM	cs	858912108	6,868	56,948	SH		SOLE		31,563	0	25,385
TD AMERITRADE HOLDING CORP	cs	87236Y108	8,679	250,035	SH		SOLE		110,630	0	139,405
TRIPADVISOR INC	cs	896945201	7,872	92,335	SH		SOLE		41,275	0	51,060
UNITED TECHNOLOGIES CORP COM	cs	913017109	7,167	74,607	SH		SOLE		37,392	0	37,215
VERIZON COMMUNICATIONS INC COM	cs	92343V104	11,775	254,766	SH		SOLE		117,106	0	137,660
VF CORP	cs	918204108	6,946	111,575	SH		SOLE		46,375	0	65,200
VISA INC	cs	92826C839	10,168	131,115	SH		SOLE		66,335	0	64,780
WHITEWAVE FOODS COMPANY	cs	966244105	5,738	147,467	SH		SOLE		56,241	0	91,226
ZOETIS INC CL A	cs	98978V103	8,121	169,475	SH		SOLE		82,525	0	86,950
INVESTMENT CO AMER CL A	cs	461308108	319	9,557	SH		SOLE		9,557	0	0
TEMPLETON FDS INC FOREIGN FD A	cs	880196209	95	14,843	SH		SOLE		14,843	0	0
VANGUARD SPECIALIZED PORTFOLIO	cs	921908604	307	13,685	SH		SOLE		13,685	0	0
BAIDU INC SPON ADR REP A	ad	056752108	248	1,310	SH		SOLE		1,310	0	0
ISHARES CORE S&P MID CAP ETF	et	464287507	10,065	72,245	SH		SOLE		72,245	0	0
ISHARES MRNGSTR LARGE CAP GROW	et	464287119	337	2,805	SH		SOLE		2,805	0	0
ISHARES RUSSELL 1000 GROWTH ET	et	464287614	226	2,270	SH		SOLE		2,270	0	0
ISHARES RUSSELL 2000 INDEX ETF	et	464287655	259	2,301	SH		SOLE		2,301	0	0
ISHARES TR CORE S&P500 ETF	et	464287200	9,184	44,826	SH		SOLE		44,826	0	0
ISHARES TR RUS 1000 ETF	et	464287622	582	5,139	SH		SOLE		5,139	0	0
ISHARES TR S&P SMALLCAP 600	et	464287804	5,162	46,880	SH		SOLE		46,880	0	0
SPDRS SELECT SECTOR FINANCIAL	et	81369Y605	217	9,118	SH		SOLE		9,118	0	0
VANGUARD FTSE DEVELOPED MARKET	et	921943858	11,933	324,963	SH		SOLE		324,963	0	0
VANGUARD FTSE EMERGING MARKETS	et	922042858	3,272	100,026	SH		SOLE		100,026	0	0
VANGUARD INDEX FDS REIT ETF	et	922908553	4,304	53,979	SH		SOLE		53,979	0	0
VANGUARD S&P 500 INDEX ETF	et	922908363	5,397	28,874	SH		SOLE		28,874	0	0