Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
TLT	TLT US 01/13/17 P114	8,800	$105M	9.7%	$11912.95	—	—	Put	464287432
JPM	JPMORGAN CHASE	346,217	$29.88M	2.8%	$86.29 *	$43.50	+55.8%	COM	46625H100
MO	ALTRIA GROUP	408,484	$27.62M	2.5%	$67.62 *	$21.55	+66.9%	COM	02209S103
LMT	LOCKHEED MARTIN	108,700	$27.17M	2.5%	$249.94 *	$136.99	+43.7%	COM	539830109
CSCO	CISCO SYSTEMS	855,000	$25.84M	2.4%	$30.22 *	$19.28	+18.5%	COM	17275R102
IBM	INTL BUSINESS MACHINES	144,500	$23.99M	2.2%	$165.99 *	$100.95	+6.7%	COM	459200101
—	GENERAL ELECTRIC	744,302	$23.52M	2.2%	$31.60	$25.78	—	COM	369604103
MRK	MERCK & CO	397,200	$23.38M	2.2%	$58.87 *	$36.80	+15.7%	COM	58933Y105
WFC	WELLS FARGO	421,100	$23.21M	2.1%	$55.11 *	$37.51	+14.3%	COM	949746101
—	REYNOLDS AMERICAN	403,771	$22.63M	2.1%	$56.04	$53.73	—	COM	761713106
VZ	VERIZON COMMUNICATIONS	409,900	$21.88M	2.0%	$53.38 *	$27.98	+18.3%	COM	92343V104
—	SIX FLAGS ENTERTAINMENT	362,700	$21.75M	2.0%	$59.96	$45.08	—	COM	83001A102
MSFT	MICROSOFT	332,500	$20.66M	1.9%	$62.14 *	$37.42	+49.4%	COM	594918104
PSA	PUBLIC STORAGE	92,100	$20.58M	1.9%	$223.50 *	$122.18	+27.1%	COM	74460D109
KHC	KRAFT HEINZ CO	235,600	$20.57M	1.9%	$87.32 *	$47.85	+21.0%	COM	500754106
EPD	ENTERPRISE PRODUCTS PARTNERS	751,000	$20.31M	1.9%	$27.04	$31.43	—	COM	293792107
PAYX	PAYCHEX	332,600	$20.25M	1.9%	$60.88 *	$31.29	+48.7%	COM	704326107
INTC	INTEL	551,500	$20M	1.8%	$36.27 *	$22.84	+29.6%	COM	458140100
MCD	MCDONALD'S	159,400	$19.4M	1.8%	$121.72 *	$74.06	+32.8%	COM	580135101
—	MAGELLAN MIDSTREAM PARTNERS	255,600	$19.33M	1.8%	$75.63	$72.11	—	COM	559080106
QCOM	QUALCOMM	287,100	$18.72M	1.7%	$65.20 *	$44.14	+15.4%	COM	747525103
JNJ	JOHNSON & JOHNSON	160,500	$18.49M	1.7%	$115.21 *	$74.80	+20.1%	COM	478160104
CVX	CHEVRON	155,450	$18.3M	1.7%	$117.70 *	$66.37	+20.8%	COM	166764100
BOH	BANK OF HAWAII	206,100	$18.28M	1.7%	$88.69 *	$42.63	+48.6%	COM	062540109
PFE	PFIZER	542,590	$17.62M	1.6%	$32.48 *	$18.18	+14.3%	COM	717081103
—	REGAL ENTERTAINMENT GROUP-A	824,800	$16.99M	1.6%	$20.60	$20.77	—	COM	758766109
CME	CHICAGO MERCANTILE EXCHANGE	144,000	$16.61M	1.5%	$115.35 *	$57.21	+46.5%	COM	12572Q105
WM	WASTE MANAGEMENT	225,800	$16.01M	1.5%	$70.91 *	$38.03	+59.0%	COM	94106L109
—	MAXIM INTEGRATED PRODUCTS	410,100	$15.82M	1.5%	$38.57	$35.94	—	COM	57772K101
XOM	EXXON MOBIL	171,456	$15.48M	1.4%	$90.26 *	$52.04	+15.9%	COM	30231G102
SPG	SIMON PROPERTY GROUP	84,360	$14.99M	1.4%	$177.67 *	$107.27	+2.8%	COM	828806109
KMB	KIMBERLY-CLARK	130,400	$14.88M	1.4%	$114.12 *	$74.43	+12.3%	COM	494368103
KEY	KEYCORP	799,700	$14.61M	1.3%	$18.27 *	$8.04	+54.7%	COM	493267108
TGT	TARGET	202,200	$14.61M	1.3%	$72.23 *	$50.80	+9.1%	COM	87612E106
KO	COCA-COLA	346,000	$14.35M	1.3%	$41.46 *	$31.21	+0.2%	COM	191216100
—	BB&T CORPORATION	299,500	$14.08M	1.3%	$47.02	$47.02	—	COM	054937107
MPC	MARATHON PETROLEUM	272,300	$13.71M	1.3%	$50.35 *	$34.23	+11.3%	COM	56585A102
EQR	EQUITY RESIDENTIAL	206,730	$13.3M	1.2%	$64.36 *	$40.46	+14.9%	COM	29476L107
MAT	MATTEL	469,500	$12.94M	1.2%	$27.55	$26.90	+2.4%	COM	577081102
LYB	LYONDELLBASELL INDUSTRIES-CL A	144,100	$12.36M	1.1%	$85.78 *	$47.02	+8.0%	COM	N53745100
AMGN	AMGEN	83,850	$12.26M	1.1%	$146.21 *	$114.05	-2.3%	COM	031162100
GIS	GENERAL MILLS	196,500	$12.14M	1.1%	$61.77 *	$39.91	+12.1%	COM	370334104
T	AT&T	280,000	$11.91M	1.1%	$42.53 *	$12.25	+37.5%	COM	00206R102
BA	BOEING	73,300	$11.41M	1.1%	$155.68 *	$112.66	+28.1%	COM	097023105
MCHP	MICROCHIP TECHNOLOGY	175,300	$11.24M	1.0%	$64.15 *	$17.69	+53.5%	COM	595017104
—	DOW CHEMICAL	192,300	$11M	1.0%	$57.22	$45.27	—	COM	260543103
DLR	DIGITAL REALTY REIT	111,000	$10.91M	1.0%	$98.26 *	$67.63	+6.5%	COM	253868103
OXY	OCCIDENTAL PETROLEUM	152,200	$10.84M	1.0%	$71.23 *	$55.00	+1.1%	COM	674599105
YUM	YUM! BRANDS	161,900	$10.25M	0.9%	$63.33 *	$53.30	+0.9%	COM	988498101
PM	PHILIP MORRIS	107,000	$9.789M	0.9%	$91.49 *	$51.09	+13.7%	COM	718172109
WMT	WAL-MART STORES	141,520	$9.782M	0.9%	$69.12 *	$18.76	+5.3%	COM	931142103
EMR	EMERSON ELECTRIC	175,100	$9.762M	0.9%	$55.75 *	$38.48	+15.9%	COM	291011104
AJG	ARTHUR J GALLAGHER & CO	180,600	$9.384M	0.9%	$51.96 *	$36.04	+25.4%	COM	363576109
—	SPECTRA ENERGY PARTNERS	203,600	$9.333M	0.9%	$45.84	$46.42	—	COM	84756N109
IVZ	INVESCO	300,000	$9.102M	0.8%	$30.34 *	$18.56	+7.7%	COM	G491BT108
PLD	PROLOGIS	172,000	$9.08M	0.8%	$52.79 *	$33.21	+23.6%	COM	74340W103
F	FORD MOTOR	705,000	$8.552M	0.8%	$12.13 *	$7.67	-2.2%	COM	345370860
DUK	DUKE ENERGY	109,300	$8.484M	0.8%	$77.62 *	$46.36	+15.8%	COM	26441C204
LVS	LAS VEGAS SANDS	158,000	$8.439M	0.8%	$53.41 *	$46.83	-7.3%	COM	517834107
PG	PROCTER & GAMBLE	96,717	$8.132M	0.7%	$84.08 *	$56.60	+16.5%	COM	742718109
SO	SOUTHERN COMPANY	163,600	$8.047M	0.7%	$49.19 *	$30.13	+12.2%	COM	842587107
—	SPDR S&P OIL & GAS EXP & PR	170,200	$7.05M	0.7%	$41.42	$39.90	—	COM	78464A730
ED	CONSOLIDATED EDISON	87,000	$6.41M	0.6%	$73.68 *	$50.41	+5.8%	COM	209115104
—	UMPQUA HOLDINGS	238,300	$4.475M	0.4%	$18.78	$18.78	—	COM	904214103
IEI	ISHARES 3-7 YEAR TREASURY BOND	16,234	$1.989M	0.2%	$122.52	$123.38	-0.7%	COM	464288661
TLH	ISHARES 10-20 YEAR TREASURY	4,364	$580K	0.1%	$132.91	$145.53	-8.7%	COM	464288653
SPY	S&P 500 DEPOSITARY RECEIPTS	1,908	$426K	0.0%	$223.27	$193.46	+15.5%	COM	78462F103
—	WA/CLAY US INFL-LNKD SEC & INC FUND	29,100	$334K	0.0%	$11.48	$11.96	—	COM	95766Q106
AEE	AMEREN	5,200	$273K	0.0%	$52.50 *	$29.27	+38.3%	COM	023608102
BRK/A	BERKSHIRE HATHAWAY	1	$244K	0.0%	$244000.00	$165023.42	+47.9%	COM	084670108
IGIB	ISHARES BARCLAYS INTERMEDIATE	2,250	$243K	0.0%	$108.00 *	$54.13	-0.1%	COM	464288638
—	WA/CLAY US INFL-LNKD OPP & INC FUND	19,600	$218K	0.0%	$11.12	$11.84	—	COM	95766R104
—	BLACKROCK INCOME TRUST	28,900	$183K	0.0%	$6.33	$6.85	—	COM	09247F100
HEFA	ISHA CURR HEDGED MSCI EAFE	6,600	$172K	0.0%	$26.06	$28.39	-8.0%	COM	46434V803
COF	CAPITAL ONE FINL	1,969	$172K	0.0%	$87.35 *	$47.00	+58.6%	COM	14040H105
AAPL	APPLE	1,400	$162K	0.0%	$115.71 *	$18.77	+42.2%	COM	037833100
PEP	PEPSICO	1,500	$157K	0.0%	$104.67 *	$69.41	+14.8%	COM	713448108
—	PACIFIC EXPLORATION & PROD	2,376	$140K	0.0%	$58.92	$58.92	—	COM	69423W889
DVY	ISHARES SELECT DIVIDEND ETF	1,500	$133K	0.0%	$88.67	$77.22	+14.7%	COM	464287168
—	MFS MULTIMARKET INC TRUST	20,000	$121K	0.0%	$6.05	$6.65	—	COM	552737108
IWF	ISHARES RUSSELL 1000 GROWTH	1,000	$105K	0.0%	$105.00 *	$18.32	+43.2%	COM	464287614
ECL	ECOLAB	900	$105K	0.0%	$116.67 *	$77.54	+37.2%	COM	278865100
SCHW	CHARLES SCHWAB	2,633	$104K	0.0%	$39.50 *	$18.00	+95.2%	COM	808513105
NKE	NIKE-B	2,000	$102K	0.0%	$51.00 *	$41.60	+8.8%	COM	654106103
GILD	GILEAD SCIENCES	1,400	$100K	0.0%	$71.43 *	$36.21	+42.2%	COM	375558103
TMO	THERMO FISHER SCIENTIFIC	700	$99,000	0.0%	$141.43 *	$84.52	+62.9%	COM	883556102
—	STERICYCLE	1,200	$92,000	0.0%	$76.67	$110.83	—	COM	858912108
—	MFS INTERMEDIATE INC TRUST	20,000	$89,000	0.0%	$4.45	$5.75	—	COM	55273C107
—	ENERGY TRANSFER PARTNERS	2,473	$89,000	0.0%	$35.99	$51.25	—	COM	29273R109
BRK/B	BERKSHIRE HATHAWAY-CL B	496	$81,000	0.0%	$163.31	$110.02	+48.1%	COM	084670702
—	MFS CHARTER INCOME TRUST	9,400	$80,000	0.0%	$8.51	$9.26	—	COM	552727109
GOOGL	ALPHABET INC-CL A	100	$79,000	0.0%	$790.00 *	$36.73	+7.1%	COM	02079K305
GOOG	ALPHABET INC- CL C	100	$77,000	0.0%	$770.00 *	$35.61	+7.6%	COM	02079K107
—	PUTNAM PREMIER INCOME TRUST	13,464	$67,000	0.0%	$4.98	$5.35	—	COM	746853100
NVS	NOVARTIS-ADR	876	$64,000	0.0%	$73.06	$74.60	-2.4%	COM	66987V109
—	MFS GOVT MARKETS INC TRUST	12,433	$63,000	0.0%	$5.07	$5.95	—	COM	552939100
—	PUTMAN MASTER INTER INCOME TRUST	13,690	$63,000	0.0%	$4.60	$4.97	—	COM	746909100
ORCL	ORACLE	1,500	$58,000	0.0%	$38.67 *	$29.68	+13.1%	COM	68389X105
CSX	CSX	1,500	$54,000	0.0%	$36.00 *	$6.66	+58.9%	COM	126408103
DE	DEERE & CO	500	$52,000	0.0%	$104.00 *	$71.30	+25.8%	COM	244199105
ITW	ILLINOIS TOOL WORKS	400	$49,000	0.0%	$122.50 *	$58.72	+68.6%	COM	452308109
DHR	DANAHER	600	$47,000	0.0%	$78.33 *	$27.52	+140.0%	COM	235851102
—	L-3 COMMUNICATIONS TITAN	300	$46,000	0.0%	$153.33	$92.73	—	COM	502424104
MPLX	MPLX LP	1,308	$45,000	0.0%	$34.40	$38.99	—	COM	55336V100
—	JACOBS ENGINEERING	700	$40,000	0.0%	$57.14	$55.71	—	COM	469814107
CL	COLGATE-PALMOLIVE	600	$39,000	0.0%	$65.00 *	$46.59	+13.6%	COM	194162103
DVN	DEVON ENERGY	800	$37,000	0.0%	$46.25 *	$37.00	-12.9%	COM	25179M103
EEM	ISHARES MSCI EMERGING MARKETS	900	$32,000	0.0%	$35.56	$41.50	-15.6%	COM	464287234
—	MONSANTO	200	$21,000	0.0%	$105.00	$100.00	—	COM	61166W101
BP	BP ADR	459	$17,000	0.0%	$37.04	$39.28	-4.8%	COM	055622104
FTV	FORTIVE CORP	300	$16,000	0.0%	$53.33 *	$30.87	+5.6%	COM	34959J108
COP	CONOCOPHILLIPS	300	$15,000	0.0%	$50.00 *	$38.73	-2.3%	COM	20825C104
ITT	ITT	400	$15,000	0.0%	$37.50 *	$35.86	+7.6%	COM	45073V108