Kelman-Lazarov 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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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
Adams Express	COM	006212104	2,546	172,347	SH		SOLE	0	0	0	172,347
Am Express Co.	COM	025816109	279	2,988	SH		SOLE	0	0	0	2,988
Amgen Inc.	COM	031162100	269	1,580	SH		SOLE	0	0	0	1,580
Apple Computer	COM	037833100	1,786	10,646	SH		SOLE	0	0	0	10,646
Atmos Energy Corp.	COM	049560105	1,462	17,355	SH		SOLE	0	0	0	17,355
AutoZone Inc.	COM	053332102	259	399	SH		SOLE	0	0	0	399
Baidu Com Inc Spons Adr Repstg Ord Shs Cl A	SPON ADR REP A	056752108	1,289	5,776	SH		SOLE	0	0	0	5,776
Bank Amer Corp	COM	060505815	1,181	50,200	SH		SOLE	0	0	0	50,200
Berkshire Hathaway	CL A	084670207	10,972	55,004	SH		SOLE	0	0	0	55,004
1/100 Berkshire Htwy Class A	CL A	084990175	1,496	500	SH		SOLE	0	0	0	500
Boeing Inc.	COM	097023105	286	873	SH		SOLE	0	0	0	873
Boulder Growth & Income Fd Inc Com	COM	101507101	235	21,800	SH		SOLE	0	0	0	21,800
CVS Corp.	COM	126650100	2,257	36,274	SH		SOLE	0	0	0	36,274
Canadian Natl Ry Co Com Isin#ca1363751027	COM	136375102	707	9,665	SH		SOLE	0	0	0	9,665
Carmax Inc	COM	143130102	694	11,200	SH		SOLE	0	0	0	11,200
Carnival Corp	UNIT 99/99/9999	143658300	1,041	15,875	SH		SOLE	0	0	0	15,875
Clorox Co Com	COM	189054109	1,032	7,750	SH		SOLE	0	0	0	7,750
Corindus Vascular	COM	218730109	92	66,950	SH		SOLE	0	0	0	66,950
Dbx Etf Tr X-Trackers Msci Eafe Hedged Equity Fd	XTRACK MSCI EMRG	233051200	1,143	37,209	SH		SOLE	0	0	0	37,209
Walt Disney Co.	COM DISNEY	254687106	1,333	13,272	SH		SOLE	0	0	0	13,272
General American Investors	COM	368802104	2,476	73,976	SH		SOLE	0	0	0	73,976
General Electric Co.	COM	369604103	216	16,047	SH		SOLE	0	0	0	16,047
General Mls Inc	COM	370334104	254	5,634	SH		SOLE	0	0	0	5,634
Goldman Sachs Actvbeta	EQUITY ETF	381430503	1,295	24,239	SH		SOLE	0	0	0	24,239
Home Depot	COM	437076102	524	2,941	SH		SOLE	0	0	0	2,941
Ishares Tr Large Growth Index Fd	MRNGSTR LG-CP GR	464287119	497	3,035	SH		SOLE	0	0	0	3,035
Ishares Nasdaq Biotech	NASDAQ BIOTECH	464287556	1,082	10,135	SH		SOLE	0	0	0	10,135
IShares Tr Russell 1000 Value	RUS 1000 VAL ETF	464287598	276	2,304	SH		SOLE	0	0	0	2,304
IShares Tr Russell 1000 Growth Index Fund	RUS 1000 GRW ETF	464287614	290	2,132	SH		SOLE	0	0	0	2,132
Ishares Tr Russell 1000 Index	RUS 1000 ETF	464287622	370	2,522	SH		SOLE	0	0	0	2,522
Ishares Tr S&P SmCap 600	CORE S&P SCP ETF	464287804	3,448	44,769	SH		SOLE	0	0	0	44,769
Ishares Tr Dow Jones US Total Mkt	DOW JONES US ETF	464287846	696	5,268	SH		SOLE	0	0	0	5,268
Johnson & Johnson	COM	478160104	624	4,872	SH		SOLE	0	0	0	4,872
Kimberly Clark Corp	COM	494368103	548	4,980	SH		SOLE	0	0	0	4,980
Lowes Cos Inc	COM	548661107	866	9,866	SH		SOLE	0	0	0	9,866
MFS Charter Income Trust	SH BEN INT	552727109	2,917	359,229	SH		SOLE	0	0	0	359,229
McCormick & Co Inc Com Non Vtg	COM VTG	579780206	1,650	15,507	SH		SOLE	0	0	0	15,507
Mondelez Intl Inc Cl A	CL A	609207105	725	17,363	SH		SOLE	0	0	0	17,363
Norfolk Southern Corp	COM	655844108	1,254	9,235	SH		SOLE	0	0	0	9,235
Nuveen Municipal Value Fund	COM	670928100	298	31,450	SH		SOLE	0	0	0	31,450
Pepsico Inc.	COM	713448108	799	7,316	SH		SOLE	0	0	0	7,316
Pfizer	COM	717081103	445	12,534	SH		SOLE	0	0	0	12,534
Rydex Etf Tr Russell Top 50 Etf Fd	ETF	739371698	261	1,400	SH		SOLE	0	0	0	1,400
Procter & Gamble	COM	742718109	2,686	33,879	SH		SOLE	0	0	0	33,879
Reinsurance Group Amer Inc Com New	COM NEW	759351604	347	2,250	SH		SOLE	0	0	0	2,250
Reliance Bancshares Inc Cl A Com	CL A	759450109	50	30,000	SH		SOLE	0	0	0	30,000
Schw US Lcap Gro Etf	US LCAP GR ETF	808524300	3,954	55,133	SH		SOLE	0	0	0	55,133
Schw US Lcap Val Etf	US LCAP VA ETF	808524409	3,167	59,936	SH		SOLE	0	0	0	59,936
Sch Fnd US Lg Etf	SCHWAB FDT US LG	808524771	8,650	238,007	SH		SOLE	0	0	0	238,007
Schwab International	INTL EQTY ETF	808524805	222	6,591	SH		SOLE	0	0	0	6,591
Sch US Agg Bnd Etf	US AGGREGATE B	808524839	11,969	234,596	SH		SOLE	0	0	0	234,596
Templeton Emerging Markets Income Fund	COM	880192109	2,605	230,489	SH		SOLE	0	0	0	230,489
Templeton Global Income Fund	COM	880198106	7,190	1,125,196	SH		SOLE	0	0	0	1,125,196
Tri Continental Corp.	COM	895436103	2,354	89,485	SH		SOLE	0	0	0	89,485
Unilever Plc Spon Adr New Isin#us9047677045	SPON ADR NEW	904767704	220	3,962	SH		SOLE	0	0	0	3,962
Vanguard Specialized Portfolios Dividend Appreciat	DIV APP ETF	921908844	1,545	15,285	SH		SOLE	0	0	0	15,285
Vanguard Short-Term Bond	SHORT TRM BOND	921937827	696	8,875	SH		SOLE	0	0	0	8,875
Vanguard FTSE Developed International ETF	FTSE DEV MKT ETF	921943858	202	4,564	SH		SOLE	0	0	0	4,564
Vanguard Intl Equity Index Fd Inc Ftse All World E	ALLWRLD EX US	922042775	208	3,825	SH		SOLE	0	0	0	3,825
Vanguard Growth Fund ETF	GROWTH ETF	922908736	1,121	7,901	SH		SOLE	0	0	0	7,901
Vanguard Index Fds Vanguard Value Etf	VALUE ETF	922908744	3,209	31,102	SH		SOLE	0	0	0	31,102
Vanguard Index Fds Vanguard Total Stk Mkt Etf	TOTAL STK MKT	922908769	209	1,543	SH		SOLE	0	0	0	1,543
Wal Mart Stores Inc.	COM	931142103	1,307	14,692	SH		SOLE	0	0	0	14,692
Wells Fargo Co.	COM	949746101	2,959	56,466	SH		SOLE	0	0	0	56,466
Yum Brands Inc	COM	988498101	1,608	18,888	SH		SOLE	0	0	0	18,888
First Israel Fund	COM	00301L109	505	25,904	SH		SOLE	0	0	0	25,904
Google Inc	CAP STK CL C	02079K107	638	618	SH		SOLE	0	0	0	618
Google Inc Cl A	CAP STK CL A	02079K305	4,023	3,879	SH		SOLE	0	0	0	3,879
American Tower Corp	COM	03027X100	837	5,760	SH		SOLE	0	0	0	5,760
Aqua America Inc Com	COM	03836W103	770	22,618	SH		SOLE	0	0	0	22,618
Blackrock Income Trust	COM	09247F100	1,010	172,125	SH		SOLE	0	0	0	172,125
Blackrock Inc Com	COM	09247X101	647	1,194	SH		SOLE	0	0	0	1,194
Cohen & Steers Quality Income Rlty Fd Inc Com	COM	19247L106	563	47,484	SH		SOLE	0	0	0	47,484
Compass Minerals	COM	20451N101	1,532	25,402	SH		SOLE	0	0	0	25,402
Cracker Barrel Old Ctry	COM	22410J106	1,112	6,984	SH		SOLE	0	0	0	6,984
Diageo Plc Sponsored Adr New	SPON ADR NEW	25243Q205	478	3,529	SH		SOLE	0	0	0	3,529
FedEx Corp.	COM	31428X106	5,905	24,592	SH		SOLE	0	0	0	24,592
Van Kmpn Am Cap TR Inv Muni	COM	46131M106	147	12,000	SH		SOLE	0	0	0	12,000
Mastercard Inc Cl A Com	CL A	57636Q104	4,497	25,675	SH		SOLE	0	0	0	25,675
Merck & Co Inc	COM	58933Y105	366	6,713	SH		SOLE	0	0	0	6,713
Mid America Apt Communities	COM	59522J103	2,670	29,266	SH		SOLE	0	0	0	29,266
Monsanto Co New Com	COM	61166W101	1,006	8,621	SH		SOLE	0	0	0	8,621
Morgan Stanley Emerging Mkt	COM	61744G107	269	14,600	SH		SOLE	0	0	0	14,600
Morgan Stanley Emerging Debt	COM	61744H105	4,672	497,507	SH		SOLE	0	0	0	497,507
Netflix Com Inc	COM	64110L106	1,004	3,400	SH		SOLE	0	0	0	3,400
Novartis Ag Sponsored Adr	SPONSORED ADR	66987V109	572	7,073	SH		SOLE	0	0	0	7,073
Revenueshares Etf Tr Large Cap Fd	LARGE CAP REV ET	68386C104	5,603	112,469	SH		SOLE	0	0	0	112,469
Oracle Corp	COM	68389X105	254	5,546	SH		SOLE	0	0	0	5,546
Paragon Natl Bk Memphis Tenn Com	COM	69912S100	142	13,000	SH		SOLE	0	0	0	13,000
PIMCO Total Return ETF	ACTIVE BD ETF	72201R775	1,978	18,980	SH		SOLE	0	0	0	18,980
PIMCO Intermediate Muni Bond ETF	INTER MUN BD ACT	72201R866	609	11,544	SH		SOLE	0	0	0	11,544
Powershares Exchange Traded Fd Tr Dynamic Buyback	DYNA BUYBK ACH	73935X286	1,153	20,246	SH		SOLE	0	0	0	20,246
Prudential Global Short Duration High Yield Fd Inc	COM	74433A109	4,573	329,464	SH		SOLE	0	0	0	329,464
S&P Depositary Receipts	TR UNIT	78462F103	2,980	11,324	SH		SOLE	0	0	0	11,324
Spdr Index Shs Fds Euro Stoxx 50 Etf	EURO STOXX 50	78463X202	519	12,876	SH		SOLE	0	0	0	12,876
Spdr Russell 3000 Etf	PORTFOLIO TL STK	78464A805	300	9,150	SH		SOLE	0	0	0	9,150
Diamonds Tr Unit Ser I	UT SER 1	78467X109	1,234	5,123	SH		SOLE	0	0	0	5,123
MidCap SPDR Trust Unit Ser-1	UTSER1 S&PDCRP	78467Y107	2,010	5,883	SH		SOLE	0	0	0	5,883
Technology Select Sector Spdr	TECHNOLOGY	81369Y803	1,136	17,366	SH		SOLE	0	0	0	17,366
Templeton Dragon Fund	COM	88018T101	340	15,300	SH		SOLE	0	0	0	15,300
3m Co Com	COM	88579Y101	517	2,355	SH		SOLE	0	0	0	2,355
Market Vectors Etf Tr Mkt Vectors Wide Moat Etf	MORNINGSTAR WIDE	92189F643	10,499	253,161	SH		SOLE	0	0	0	253,161
Vanguard World Fds Vanguard Health Care Etf	HEALTH CAR ETF	92204A504	463	3,013	SH		SOLE	0	0	0	3,013
Ventas Inc Com	COM	92276F100	2,517	50,817	SH		SOLE	0	0	0	50,817
Visa Inc Cl A	COM CL A	92826C839	1,591	13,303	SH		SOLE	0	0	0	13,303
Health Care Reit	COM	95040Q104	705	12,950	SH		SOLE	0	0	0	12,950
Wisdomtree Tr Largecap Divid Fd	US LARGECAP DIVD	97717W307	518	5,854	SH		SOLE	0	0	0	5,854
Wisdomtree Tr Divid Top 100 Fd	US DIVID EX FNCL	97717W406	982	11,613	SH		SOLE	0	0	0	11,613
Wisdomtree Tr Smallcap Earnings Fd	US SMALLCO ERNGS	97717W562	2,803	78,457	SH		SOLE	0	0	0	78,457
Yum China Holdings I	COM	98850P109	720	17,342	SH		SOLE	0	0	0	17,342