Karp 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

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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	88579y101	632	4,193	SH		SOLE		1,100	0	3,093
ACCENTURE	COMMON	G1151c101	2,398	22,945	SH		SOLE		4,123	0	18,822
ALASKA AIR	COMMON	011659109	394	4,900	SH		SOLE		700	0	4,200
ALPHABET	COMMON	38259P508	3,454	4,440	SH		SOLE		630	0	3,810
AMERICAN AIRLINES	COMMON	02376R102	1,820	42,966	SH		SOLE		7,250	0	35,716
APPLE	COMMON	037833100	4,541	43,139	SH		SOLE		6,722	0	36,417
AT&T	COMMON	00206r102	1,801	52,343	SH		SOLE		25,971	0	26,371
BERKSHIRE HATHAWAY CL B	CLASS B	084670702	2,078	15,735	SH		SOLE		3,650	0	12,085
BLACKROCK MUNI HOLDINGS CALIF	COMMON	09254l107	1,573	105,902	SH		SOLE		20,100	0	85,802
BLACKROCK MUNI YIELD CALIF	COMMON	09254m105	1,387	87,670	SH		SOLE		12,925	0	74,745
BLACKSTONE GROUP	COMMON	09253U108	3,382	115,676	SH		SOLE		20,800	0	94,876
CINTAS	COMMON	172908105	2,823	31,000	SH		SOLE		4,965	0	26,035
COLGATE-PALMOLIVE	CLASS A	194162103	837	12,562	SH		SOLE		2,070	0	10,492
COMCAST	COMMON	20030n101	3,200	56,704	SH		SOLE		9,700	0	47,004
COSTCO WHOLESALE	COMMON	22160k105	3,236	20,035	SH		SOLE		3,810	0	16,225
CVS CAREMARK	CLASS B	126650100	2,579	26,378	SH		SOLE		4,334	0	22,044
DB X TRACKERS MSCI GERMANY	COMMON	233051408	1,104	46,002	SH		SOLE		7,810	0	38,192
DISCOVER FINANCIAL SERVICES	COMMON	254709108	387	7,225	SH		SOLE		1,750	0	5,475
DISNEY WALT	COMMON	254687106	2,919	27,776	SH		SOLE		3,425	0	24,351
FACEBOOK	COMMON	30303m102	1,750	16,725	SH		SOLE		2,360	0	14,365
FIRST REPUBLIC	COMMON	3616C100	2,182	33,027	SH		SOLE		6,426	0	26,601
GENERAL DYNAMIC	COMMON	369550108	286	2,080	SH		SOLE		700	0	1,380
GENERAL ELECTRIC	COMMON	369604103	599	19,231	SH		SOLE		2,999	0	16,232
GENERAL MILLS	COMMON	370334104	3,481	60,377	SH		SOLE		11,892	0	48,484
GENTHERM	COMMON	03070L300	1,192	25,150	SH		SOLE		3,500	0	21,650
GOLDMAN SACHS	COMMON	38141g104	252	1,400	SH		SOLE		250	0	1,150
GUGGENHEIM S&P MIDCAP 400 PURE	COMMON	78355W502	259	5,425	SH		SOLE		745	0	4,680
GUGGENHEIM S&P SM CAP 600 PURE	COMMON	78355W809	202	2,500	SH		SOLE		775	0	1,725
HARTFORD FINL	COMMON	416515104	282	6,500	SH		SOLE		1,000	0	5,500
HOME DEPOT	COMMON	437076102	3,842	29,047	SH		SOLE		4,297	0	24,750
I SHARES DOW JONES SELECT DIV	COMMON	464287168	3,391	45,118	SH		SOLE		8,910	0	36,208
I SHARES DOW JONES U.S. R.E. I	COMMON	464287739	2,387	31,788	SH		SOLE		5,045	0	26,743
I SHARES DOW JONES US PHARMACE	COMMON	464288836	1,217	7,525	SH		SOLE		250	0	7,275
I SHARES IBOXX INVEST GRADE	COMMON	464287242	3,999	35,080	SH		SOLE		4,700	0	30,380
I SHARES MSCI SWEDEN INDX	COMMON	464286756	2,078	71,221	SH		SOLE		13,100	0	58,121
I SHARES RUSSELL 1000 GRWTH	COMMON	464287614	756	7,602	SH		SOLE		2,250	0	5,352
I SHARES RUSSELL 1000 VAL	COMMON	464287598	1,615	16,501	SH		SOLE		3,550	0	12,951
I SHARES RUSSELL MID CAP GRWTH	COMMON	464287481	3,827	41,629	SH		SOLE		7,279	0	34,350
I SHARES RUSSELL MID CAP VAL	COMMON	464287473	1,291	18,806	SH		SOLE		3,133	0	15,673
I SHARES TR DOW JONES AEROSPAC	COMMON	464288760	877	7,420	SH		SOLE		1,250	0	6,170
I SHARES TR IBOXX $HGH YLD COR	COMMON	464288513	2,300	28,537	SH		SOLE		5,395	0	23,142
I SHARES TR NASDAQ BIOTECHNOLO	COMMON	464287556	1,866	5,516	SH		SOLE		815	0	4,701
I SHARES TR S&P U S PFD STK	COMMON	464288687	2,863	73,694	SH		SOLE		12,850	0	60,844
ILLUMINA INC	COMMON	452327109	620	3,228	SH		SOLE		750	0	2,478
INTERCONTINENTAL EXCH	COMMON	45865v100	456	1,780	SH		SOLE		275	0	1,505
ISHARES BARCLAYS 20+ YEAR TREA	COMMON	464287432	1,806	14,975	SH		SOLE		3,230	0	11,745
ISHARES EUROPE ETF	COMMON	464287861	677	16,870	SH		SOLE		3,270	0	13,600
ISHARES MORTGAGE REAL ESTATE C	COMMON	464288539	1,200	125,530	SH		SOLE		29,000	0	96,530
ISHARES NATL AMT FREE MUNI	COMMON	464288414	304	2,745	SH		SOLE		560	0	2,185
ISHARES US FINANCIAL SVCS	COMMON	464287770	1,051	11,683	SH		SOLE		2,870	0	8,813
ISHARES US MED DEVICES	COMMON	464288810	2,687	21,935	SH		SOLE		4,337	0	17,598
LAZARD LTD	COMMON	g54050102	1,058	23,498	SH		SOLE		5,175	0	18,323
LOCKHEED MARTIN	COMMON	539830109	519	2,392	SH		SOLE		266	0	2,126
MASCO	COMMON	574599106	2,681	94,738	SH		SOLE		20,500	0	74,238
MCKESSON	COMMON	58155Q103	217	1,100	SH		SOLE		400	0	700
NETFLIX	COMMON	64110l106	1,552	13,570	SH		SOLE		2,460	0	11,110
NEWELL RUBBERMAID	COMMON	651229106	656	14,892	SH		SOLE		2,241	0	12,651
PAYCHEX INC	COMMON	704326107	2,343	44,295	SH		SOLE		7,340	0	36,955
PHILIP MORRIS	COMMON	718172109	1,532	17,422	SH		SOLE		2,770	0	14,652
PINNACLE WEST	COMMON	723484101	425	6,586	SH		SOLE		3,293	0	3,293
POWERSHARES ETF DYNAMIC	COMMON	73935X757	2,282	62,089	SH		SOLE		9,242	0	52,847
POWERSHARES ETF TR DYNAMIC C	COMMON	73935x393	375	6,600	SH		SOLE		2,000	0	4,600
POWERSHARES EXCHANGE TRADED FD	COMMON	73937B407	1,028	35,455	SH		SOLE		4,500	0	30,955
POWERSHARES EXCHANGE TRADED FD	COMMON	73937B878	3,680	85,133	SH		SOLE		15,450	0	69,683
POWERSHARES QQQ TR UNIT SER 1	COMMON	73935a104	534	4,775	SH		SOLE		900	0	3,875
POWERSHARES S&P SM CAP FINANCI	COMMON	73937B803	1,912	46,894	SH		SOLE		9,705	0	37,189
POWERSHARES U.S. DLR BULLISH	COMMON	73936d107	718	28,006	SH		SOLE		7,027	0	20,979
PPG INDUSTRIES	COMMON	693506107	1,614	16,329	SH		SOLE		2,875	0	13,454
PROSHARES ULTRA FINLS	COMMON	74347r743	4,862	68,479	SH		SOLE		10,571	0	57,908
PROSHARES ULTRA QQQ	COMMON	74347r206	4,363	55,673	SH		SOLE		11,835	0	43,838
RAYTHEON CO COM NEW	COMMON	755111507	3,579	28,737	SH		SOLE		5,512	0	23,225
SECTOR SPDR CONSUMER STAPLES	COMMON	81369y308	6,326	125,287	SH		SOLE		21,145	0	104,141
SECTOR SPDR SHS UTILITIES	COMMON	81369y886	203	4,680	SH		SOLE		1,610	0	3,070
SELECT SECTOR SPDR HEALTHCARE	COMMON	81369y209	893	12,394	SH		SOLE		450	0	11,944
SKYWORKS SOLUTIONS INC COM	COMMON	83088M102	897	11,679	SH		SOLE		1,975	0	9,704
SPDR CONSUMER	COMMON	81369y407	5,215	66,719	SH		SOLE		11,215	0	55,504
SPDR S&P 500 ETF TRUSTUNIT SER	COMMON	78462f103	266	1,305	SH		SOLE		0	0	1,305
SPDR SER TR S&P HOMEBUILDERS	COMMON	78464a888	4,283	125,296	SH		SOLE		22,114	0	103,183
SPDR SER TR S&P REGL BKG ETF	COMMON	78464A698	3,525	84,079	SH		SOLE		13,708	0	70,371
STARBUCKS CORP	COMMON	855244109	1,793	29,875	SH		SOLE		4,800	0	25,075
SYNCHRONY FINANCIAL	COMMON	87165B103	231	7,599	SH		SOLE		721	0	6,878
TOPBUILD CORP	COMMON	89055F103	360	11,689	SH		SOLE		2,878	0	8,811
TRAVELERS	COMMON	89417e109	562	4,981	SH		SOLE		1,000	0	3,981
VANGUARD DIV APPREC	COMMON	921908844	3,008	38,683	SH		SOLE		5,100	0	33,583
VANGUARD EXTENDED MKT	COMMON	922908652	939	11,200	SH		SOLE		2,950	0	8,250
VANGUARD HEALTH	COMMON	92204a504	3,182	23,945	SH		SOLE		6,044	0	17,901
VANGUARD INFORM TECH	COMMON	92204a702	837	7,725	SH		SOLE		400	0	7,325
VANGUARD TELECOMM	COMMON	92204a884	1,476	17,595	SH		SOLE		3,270	0	14,325
VANGUARD WRLD EX. DUR TREA	COMMON	921910709	3,046	26,905	SH		SOLE		4,588	0	22,318
VERIFONE HLDGS	COMMON	92342y109	1,504	53,675	SH		SOLE		8,510	0	45,165
VISA	COMMON	92826c839	2,861	36,888	SH		SOLE		5,200	0	31,688
WELLS FARGO	COMMON	949746101	2,657	48,882	SH		SOLE		8,655	0	40,227