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

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
1/100 Berkshire Htwy Class A	COM A SH	084990175	1,410	5	SH		SOLE		0	0	5
3m Co Com	COM	88579Y101	463	2,355	SH		SOLE		0	0	2,355
Aberdeen Emerging Markets Equity Income Fund, Inc.	COM	00301W105	238	34,069	SH		SOLE		0	0	34,069
Adams Express	COM	006212104	2,577	167,131	SH		SOLE		0	0	167,131
Am Express Co.	COM	025816109	283	2,888	SH		SOLE		0	0	2,888
American Tower Corp	COM	03027X100	820	5,690	SH		SOLE		0	0	5,690
Amgen Inc.	COM	031162100	270	1,460	SH		SOLE		0	0	1,460
Apple Computer	COM	037833100	1,874	10,125	SH		SOLE		0	0	10,125
Aqua America Inc Com	COM	03836W103	796	22,618	SH		SOLE		0	0	22,618
Atmos Energy Corp.	COM	049560105	1,493	16,561	SH		SOLE		0	0	16,561
AutoZone Inc.	COM	053332102	261	389	SH		SOLE		0	0	389
Baidu Com Inc Spons Adr Repstg Ord Shs Cl A	SPON ADR REP A	056752108	1,373	5,651	SH		SOLE		0	0	5,651
Bank Amer Corp	COM	060505815	1,086	44,350	SH		SOLE		0	0	44,350
Berkshire Hathaway	CL A	084670207	9,628	51,581	SH		SOLE		0	0	51,581
Blackrock Inc Com	COM	09247X101	563	1,129	SH		SOLE		0	0	1,129
Blackrock Income Trust	COM	09247F100	828	141,948	SH		SOLE		0	0	141,948
Boeing Inc.	COM	097023105	310	923	SH		SOLE		0	0	923
Boulder Growth & Income Fd Inc Com	COM	101507101	120	11,670	SH		SOLE		0	0	11,670
Canadian Natl Ry Co Com Isin#ca1363751027	COM	136375102	763	9,337	SH		SOLE		0	0	9,337
Carmax Inc	COM	143130102	800	10,975	SH		SOLE		0	0	10,975
Carnival Corp	UNIT 99/99/9999	143658300	844	14,725	SH		SOLE		0	0	14,725
Clorox Co Com	COM	189054109	1,038	7,675	SH		SOLE		0	0	7,675
Compass Minerals	COM	20451N101	1,537	23,377	SH		SOLE		0	0	23,377
Cracker Barrel Old Ctry	COM	22410J106	1,059	6,780	SH		SOLE		0	0	6,780
CVS Corp.	COM	126650100	2,165	33,651	SH		SOLE		0	0	33,651
Dbx Etf Tr X-Trackers Msci Eafe Hedged Equity Fd	XTRACK MSCI EMRG	233051200	1,021	32,509	SH		SOLE		0	0	32,509
Diageo Plc Sponsored Adr New	SPON ADR NEW	25243Q205	501	3,480	SH		SOLE		0	0	3,480
Diamonds Tr Unit Ser I	UT SER 1	78467X109	1,129	4,650	SH		SOLE		0	0	4,650
FedEx Corp.	COM	31428X106	5,185	22,835	SH		SOLE		0	0	22,835
General American Investors	COM	368802104	2,410	70,236	SH		SOLE		0	0	70,236
General Electric Co.	COM	369604103	220	16,167	SH		SOLE		0	0	16,167
General Mls Inc	COM	370334104	236	5,334	SH		SOLE		0	0	5,334
Goldman Sachs Actvbeta	EQUITY ETF	381430503	2,857	52,183	SH		SOLE		0	0	52,183
Google Inc	CAP STK CL C	02079K107	638	572	SH		SOLE		0	0	572
Google Inc Cl A	CAP STK CL A	02079K305	4,218	3,735	SH		SOLE		0	0	3,735
Health Care Reit	COM	95040Q104	630	10,050	SH		SOLE		0	0	10,050
Home Depot	COM	437076102	574	2,941	SH		SOLE		0	0	2,941
Ishares Msci Eafe Esg	MSCI EAFE ESG OP	46435G516	256	3,925	SH		SOLE		0	0	3,925
Ishares Nasdaq Biotech	NASDAQ BIOTECH	464287556	1,113	10,135	SH		SOLE		0	0	10,135
Ishares Tr Dow Jones US Total Mkt	DOW JONES US ETF	464287846	718	5,268	SH		SOLE		0	0	5,268
Ishares Tr Large Growth Index Fd	MRNGSTR LG-CP GR	464287119	616	3,529	SH		SOLE		0	0	3,529
IShares Tr Russell 1000 Growth Index Fund	RUS 1000 GRW ETF	464287614	281	1,952	SH		SOLE		0	0	1,952
Ishares Tr Russell 1000 Index	RUS 1000 ETF	464287622	383	2,522	SH		SOLE		0	0	2,522
IShares Tr Russell 1000 Value	RUS 1000 VAL ETF	464287598	299	2,463	SH		SOLE		0	0	2,463
Ishares Tr S&P SmCap 600	CORE S&P SCP ETF	464287804	4,021	48,177	SH		SOLE		0	0	48,177
Johnson & Johnson	COM	478160104	568	4,681	SH		SOLE		0	0	4,681
Kimberly Clark Corp	COM	494368103	461	4,380	SH		SOLE		0	0	4,380
Lowes Cos Inc	COM	548661107	905	9,470	SH		SOLE		0	0	9,470
Market Vectors Etf Tr Mkt Vectors Wide Moat Etf	MORNINGSTAR WIDE	92189F643	11,387	261,401	SH		SOLE		0	0	261,401
Mastercard Inc Cl A Com	CL A	57636Q104	4,325	22,009	SH		SOLE		0	0	22,009
McCormick & Co Inc Com Non Vtg	COM VTG	579780206	1,411	12,152	SH		SOLE		0	0	12,152
Merck & Co Inc	COM	58933Y105	409	6,732	SH		SOLE		0	0	6,732
MFS Charter Income Trust	SH BEN INT	552727109	2,491	314,140	SH		SOLE		0	0	314,140
Mid America Apt Communities	COM	59522J103	2,488	24,712	SH		SOLE		0	0	24,712
MidCap SPDR Trust Unit Ser-1	UTSER1 S&PDCRP	78467Y107	2,050	5,774	SH		SOLE		0	0	5,774
Mondelez Intl Inc Cl A	CL A	609207105	670	16,335	SH		SOLE		0	0	16,335
Morgan Stanley Emerging Debt	COM	61744H105	3,965	453,136	SH		SOLE		0	0	453,136
Morgan Stanley Emerging Mkt	COM	61744G107	235	14,450	SH		SOLE		0	0	14,450
Netflix Com Inc	COM	64110L106	949	2,425	SH		SOLE		0	0	2,425
Norfolk Southern Corp	COM	655844108	1,393	9,235	SH		SOLE		0	0	9,235
Novartis Ag Sponsored Adr	SPONSORED ADR	66987V109	509	6,738	SH		SOLE		0	0	6,738
Nuveen Municipal Value Fund	COM	670928100	301	31,450	SH		SOLE		0	0	31,450
Oracle Corp	COM	68389X105	244	5,546	SH		SOLE		0	0	5,546
Pepsico Inc.	COM	713448108	802	7,365	SH		SOLE		0	0	7,365
Pfizer	COM	717081103	455	12,534	SH		SOLE		0	0	12,534
PIMCO Intermediate Muni Bond ETF	INTER MUN BD ACT	72201R866	452	8,544	SH		SOLE		0	0	8,544
PIMCO Total Return ETF	ACTIVE BD ETF	72201R775	1,783	17,301	SH		SOLE		0	0	17,301
Powershares Exchange Traded Fd Tr Dynamic Buyback	DYNA BUYBK ACH	73935X286	1,139	20,072	SH		SOLE		0	0	20,072
Procter & Gamble	COM	742718109	2,456	31,465	SH		SOLE		0	0	31,465
Prudential Global Short Duration High Yield Fd Inc	COM	74433A109	3,369	246,662	SH		SOLE		0	0	246,662
Reinsurance Group Amer Inc Com New	COM NEW	759351604	240	1,800	SH		SOLE		0	0	1,800
Reliance Bancshares Inc Cl A Com	COM CL A	759450109	53	30,000	SH		SOLE		0	0	30,000
Revenueshares Etf Tr Large Cap Fd	LARGE CAP REV ET	68386C104	5,268	103,774	SH		SOLE		0	0	103,774
Rydex Etf Tr Russell Top 50 Etf Fd	GUGGENHM S&P 500	46137V233	270	1,400	SH		SOLE		0	0	1,400
S&P Depositary Receipts	TR UNIT	78462F103	3,038	11,197	SH		SOLE		0	0	11,197
Sch Fnd US Lg Etf	SCHWAB FDT US LG	808524771	10,069	269,661	SH		SOLE		0	0	269,661
Sch US Agg Bnd Etf	US AGGREGATE B	808524839	8,102	159,985	SH		SOLE		0	0	159,985
Schw US Lcap Gro Etf	US LCAP GR ETF	808524300	5,677	74,910	SH		SOLE		0	0	74,910
Schw US Lcap Val Etf	US LCAP VA ETF	808524409	7,851	147,793	SH		SOLE		0	0	147,793
Schwab Fundamental Intl Small Cap	SCHWB FDT INT SC	808524748	963	27,629	SH		SOLE		0	0	27,629
Schwab International	INTL EQTY ETF	808524805	1,573	47,605	SH		SOLE		0	0	47,605
Spdr Index Shs Fds Euro Stoxx 50 Etf	EURO STOXX 50	78463X202	472	12,326	SH		SOLE		0	0	12,326
Spdr Russell 3000 Etf	PORTFOLIO TL STK	78464A805	311	9,150	SH		SOLE		0	0	9,150
Technology Select Sector Spdr	TECHNOLOGY	81369Y803	1,154	16,616	SH		SOLE		0	0	16,616
Templeton Dragon Fund	COM	88018T101	308	14,450	SH		SOLE		0	0	14,450
Templeton Emerging Markets Income Fund	COM	880192109	2,892	281,629	SH		SOLE		0	0	281,629
Templeton Global Income Fund	COM	880198106	6,879	1,120,379	SH		SOLE		0	0	1,120,379
Tractor Supply Co	COM	892356106	214	2,800	SH		SOLE		0	0	2,800
Tri Continental Corp.	COM	895436103	2,115	79,767	SH		SOLE		0	0	79,767
Unilever Plc Spon Adr New Isin#us9047677045	SPON ADR NEW	904767704	208	3,762	SH		SOLE		0	0	3,762
Van Kmpn Am Cap TR Inv Muni	COM	46131M106	148	12,000	SH		SOLE		0	0	12,000
Vanguard Growth Fund ETF	GROWTH ETF	922908736	1,092	7,291	SH		SOLE		0	0	7,291
Vanguard Index Fds Vanguard Total Stk Mkt Etf	TOTAL STK MKT	922908769	217	1,543	SH		SOLE		0	0	1,543
Vanguard Index Fds Vanguard Value Etf	VALUE ETF	922908744	3,172	30,552	SH		SOLE		0	0	30,552
Vanguard Short-Term Bond	SHORT TRM BOND	921937827	632	8,075	SH		SOLE		0	0	8,075
Vanguard Specialized Portfolios Dividend Appreciat	DIV APP ETF	921908844	1,529	15,044	SH		SOLE		0	0	15,044
Vanguard World Fds Vanguard Health Care Etf	HEALTH CAR ETF	92204A504	479	3,013	SH		SOLE		0	0	3,013
Ventas Inc Com	COM	92276F100	2,391	41,977	SH		SOLE		0	0	41,977
Visa Inc Cl A	COM CL A	92826C839	1,682	12,697	SH		SOLE		0	0	12,697
Wal Mart Stores Inc.	COM	931142103	1,198	13,991	SH		SOLE		0	0	13,991
Walt Disney Co.	COM DISNEY	254687106	1,355	12,924	SH		SOLE		0	0	12,924
Wells Fargo Co.	COM	949746101	2,969	53,550	SH		SOLE		0	0	53,550
Wisdomtree Tr Divid Top 100 Fd	US DIVID EX FNCL	97717W406	1,009	11,613	SH		SOLE		0	0	11,613
Wisdomtree Tr Largecap Divid Fd	US LARGECAP DIVD	97717W307	507	5,654	SH		SOLE		0	0	5,654
Wisdomtree Tr Smallcap Earnings Fd	US SMALLCO ERNGS	97717W562	3,009	77,761	SH		SOLE		0	0	77,761
Yum Brands Inc	COM	988498101	1,466	18,738	SH		SOLE		0	0	18,738
Yum China Holdings I	COM	98850P109	654	16,999	SH		SOLE		0	0	16,999