Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	JOHNSON&JOHNSON	216,194	$23.39M	7.0%	$86.62	—	—	47816010
—	PHILIP MORRIS IN	182,968	$17.95M	5.4%	$86.00	—	—	71817210
—	ALTRIA GROUP INC	247,420	$15.5M	4.6%	$35.02	—	—	02209S10
—	MCDONALDS CORP	113,791	$14.3M	4.3%	$96.94	—	—	58013510
—	PEPSICO INC	114,904	$11.78M	3.5%	$82.01	—	—	71344810
—	EXXON MOBIL CORP	139,835	$11.69M	3.5%	$87.56	—	—	30231G10
—	MONDELEZ INTER-A	290,568	$11.66M	3.5%	$29.87	—	—	60920710
—	DIAGEO PLC-ADR	97,079	$10.47M	3.1%	$116.07	—	—	25243Q20
—	ABBOTT LABS	234,498	$9.809M	2.9%	$37.53	—	—	00282410
—	BERKSHIRE HATH-B	67,743	$9.611M	2.9%	$118.49	—	—	08467070
—	LOCKHEED MARTIN	42,936	$9.51M	2.8%	$108.46	—	—	53983010
—	CIE FINANCI-REG	143,944	$9.421M	2.8%	$69.09	—	—	097174610
—	HEINEKEN HLDG	120,718	$9.414M	2.8%	$69.25	—	—	022350277
—	OXFORD INDS INC	138,640	$9.321M	2.8%	$62.57	—	—	69149730
—	REDWOOD TRUST	707,012	$9.248M	2.8%	$16.47	—	—	75807540
—	APPLE INC	84,381	$9.197M	2.8%	$133.87	—	—	03783310
—	LABORATORY CP	74,686	$8.748M	2.6%	$98.90	—	—	50540R40
—	JPMORGAN CHASE	135,980	$8.053M	2.4%	$54.91	—	—	46625H10
—	IBM	52,777	$7.993M	2.4%	$174.36	—	—	45920010
—	TWENTY-FIRST - B	282,867	$7.977M	2.4%	$29.80	—	—	90130A20
—	ORITANI FINANCIA	468,436	$7.949M	2.4%	$15.44	—	—	68633D10
—	WALT DISNEY CO	77,060	$7.653M	2.3%	$64.25	—	—	25468710
—	EQUITY ONE INC	254,965	$7.307M	2.2%	$22.79	—	—	29475210
—	NOW INC	382,142	$6.772M	2.0%	$21.12	—	—	67011P10
—	NISOURCE INC	274,529	$6.468M	1.9%	$18.57	—	—	65473P10
—	WESTAMERICA BANC	126,150	$6.145M	1.8%	$45.34	—	—	95709010
—	ABBVIE INC	106,692	$6.094M	1.8%	$52.01	—	—	00287Y10
—	COMPASS DIVERSIF	377,884	$5.914M	1.8%	$17.52	—	—	20451Q10
—	FRANKLIN RES INC	148,908	$5.815M	1.7%	$51.38	—	—	35461310
—	NATL OILWELL VAR	178,863	$5.563M	1.7%	$53.22	—	—	63707110
—	BROWN-FORMAN -B	55,547	$5.47M	1.6%	$67.54	—	—	11563720
—	GRACO INC	59,766	$5.018M	1.5%	$63.20	—	—	38410910
—	DOMINION RES/VA	64,230	$4.825M	1.4%	$59.33	—	—	25746U10
—	BANK NY MELLON	104,257	$3.84M	1.1%	$29.00	—	—	06405810
—	KINDER MORGAN IN	173,961	$3.107M	0.9%	$37.70	—	—	49456B10
—	LIBERTY INTER-A	116,180	$2.934M	0.9%	$23.01	—	—	53071M10
—	DUKE ENERGY CORP	34,169	$2.757M	0.8%	$67.66	—	—	26441C20
—	ISHARES 1-3 YEAR	26,325	$2.238M	0.7%	$84.37	—	—	46428745
—	GENERAL ELECTRIC	65,927	$2.096M	0.6%	$23.34	—	—	36960410
—	CHEVRON CORP	16,121	$1.538M	0.5%	$117.95	—	—	16676410
—	SPDR S&P 500 ETF	7,275	$1.495M	0.4%	$203.85	—	—	78462F10
—	BERKSHIRE HATH-A	5	$1.067M	0.3%	$168600.00	—	—	08467010
—	COCA-COLA CO/THE	21,660	$1.005M	0.3%	$40.10	—	—	19121610
—	PHILLIPS 66	11,118	$963K	0.3%	$76.06	—	—	71854610
—	VISA INC-CLASS A	10,252	$784K	0.2%	$114.64	—	—	92826C83
—	TWENTY-FIRST C-A	20,679	$577K	0.2%	$38.40	—	—	90130A10
—	AT&T INC	14,596	$572K	0.2%	$35.31	—	—	00206R10
—	CATERPILLAR INC	7,276	$557K	0.2%	$82.48	—	—	14912310
—	ALPHABET INC-A	615	$469K	0.1%	$639.02	—	—	02079K30
—	ALPHABET INC-C	616	$459K	0.1%	$608.77	—	—	02079K10
—	STARBUCKS CORP	6,228	$372K	0.1%	$67.92	—	—	85524410
—	ECOLAB INC	3,307	$369K	0.1%	$104.48	—	—	27886510
—	MASTERCARD INC-A	3,667	$347K	0.1%	$86.19	—	—	57636Q10
—	DUNKIN' BRANDS G	5,325	$251K	0.1%	$42.89	—	—	26550410
—	CONS EDISON INC	3,000	$230K	0.1%	$76.67	—	—	20911510