Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
TMO	Thermo Electron Corp	77,825	$16.4M	3.9%	$210.72 *	$79.76	+153.6%	COM	883556102
UNH	United Health Group Inc.	65,744	$15.57M	3.7%	$236.84 *	$50.94	+270.9%	COM	91324P102
SYK	Stryker Corp	91,335	$15.43M	3.6%	$168.94 *	$56.92	+160.2%	COM	863667101
JPM	JP Morgan Chase & Co	132,145	$14.38M	3.4%	$108.78 *	$36.38	+144.1%	COM	46625H100
SCHW	Charles Schwab Corp	233,516	$12.99M	3.1%	$55.61 *	$15.92	+194.9%	COM	808513105
PEP	Pepsico Inc.	111,060	$11.01M	2.6%	$99.13 *	$56.00	+53.7%	COM	713448108
CSCO	Cisco Systems Inc	232,103	$10.4M	2.4%	$44.83 *	$15.35	+120.5%	COM	17275R102
EPD	Enterprise Products Partners L	371,977	$9.95M	2.3%	$26.75	$48.50	—	PTP	293792107
AMAT	Applied Materials Inc	193,255	$9.839M	2.3%	$50.91	$12.48	+307.7%	COM	038222105
MMM	Minnesota Mining & Manufacturi	48,520	$9.462M	2.2%	$195.01 *	$62.10	+124.7%	COM	88579Y101
—	Constellation Brands Inc	40,896	$9.393M	2.2%	$229.68	$153.30	—	COM	20136p108
ZBH	Zimmer Holdings Inc	73,052	$8.543M	2.0%	$116.94 *	$72.18	+37.8%	COM	98956P102
—	Aetna Inc	47,350	$8.462M	2.0%	$178.71	$63.54	—	COM	00817Y108
—	United Technologies Corp	65,848	$7.833M	1.8%	$118.96	$92.74	—	COM	913017109
MSFT	Microsoft Corp	77,823	$7.393M	1.7%	$95.00 *	$26.70	+215.8%	COM	594918104
JNJ	Johnson & Johnson	57,797	$7.283M	1.7%	$126.01 *	$59.66	+72.9%	COM	478160104
—	Anheuser-Busch Cos Inc	70,978	$6.927M	1.6%	$97.59	$90.26	—	COM	035229103
IBM	International Business Machine	47,372	$6.869M	1.6%	$145.00 *	$118.25	-11.7%	COM	459200101
POST	Post Holdings Inc.	82,920	$6.524M	1.5%	$78.68 *	$41.05	+20.8%	COM	737446104
NVS	Novartis AG ADR	83,843	$6.396M	1.5%	$76.29 *	$72.61	+11.3%	COM	66987V109
CSX	CSX Corp	102,462	$6.132M	1.4%	$59.85 *	$6.68	+150.5%	COM	126408103
ORCL	Oracle Corp	124,539	$5.723M	1.3%	$45.95 *	$27.57	+47.7%	COM	68389X105
—	Cotiviti Holdings Inc.	160,833	$5.62M	1.3%	$34.94	$22.58	—	COM	22164k101
—	GasLog Ltd.	335,178	$5.597M	1.3%	$16.70	$13.94	—	COM	G37585109
—	Medtronic PLC	68,163	$5.522M	1.3%	$81.01	$52.84	—	COM	585055106
CVX	ChevronTexaco Corp	44,202	$5.519M	1.3%	$124.86 *	$71.40	+14.2%	COM	166764100
—	Berry Plastics Group Inc	98,530	$5.415M	1.3%	$54.96	$44.86	—	COM	08579w103
CME	CME Group, Inc.	33,640	$5.265M	1.2%	$156.51 *	$39.16	+215.1%	COM	12572Q105
PG	Procter & Gamble Co	73,064	$5.258M	1.2%	$71.96 *	$55.24	+17.0%	COM	742718109
LVS	Las Vegas Sands Corp	68,590	$5.135M	1.2%	$74.87 *	$41.51	+48.8%	COM	517834107
—	Caesars Entertainment Corp	434,023	$5.078M	1.2%	$11.70	$10.63	—	COM	127686103
NEE	NextEra Energy, Inc.	30,918	$5.046M	1.2%	$163.21 *	$14.15	+138.2%	COM	65339F101
MCK	McKesson Corp	31,722	$4.892M	1.1%	$154.21 *	$129.68	+2.2%	COM	58155Q103
—	Walgreens Boots Alliance Inc	74,230	$4.856M	1.1%	$65.42	$76.92	—	COM	931427108
—	Buckeye Partners LP	112,184	$4.699M	1.1%	$41.89	$67.07	—	PTP	118230101
—	General Electric Co.	316,765	$4.451M	1.0%	$14.05	$23.28	—	COM	369604103
HRTX	Heron Therapeutics Inc	140,000	$4.417M	1.0%	$31.55 *	$22.68	+21.7%	COM	427746102
BK	Bank of New York Co Inc/The	78,356	$4.246M	1.0%	$54.19 *	$21.22	+95.5%	COM	064058100
—	Dollar Tree Stores Inc.	43,767	$4.199M	1.0%	$95.94	$81.26	—	COM	256747106
SLB	Schlumberger Ltd	59,781	$4.089M	1.0%	$68.40 *	$55.52	-6.6%	COM	806857108
UNP	Union Pacific Corp	25,846	$3.431M	0.8%	$132.75 *	$66.07	+71.5%	COM	907818108
DE	Deere & Co	24,984	$3.382M	0.8%	$135.37 *	$68.04	+103.4%	COM	244199105
—	Constellium NV	300,200	$3.347M	0.8%	$11.15	$11.15	—	COM	n22035104
TCEHY	Tencent Holdings Ltd	66,303	$3.265M	0.8%	$49.24 *	$48.75	+9.3%	COM	88032Q109
—	Alphabet Inc. Class C	3,040	$3.164M	0.7%	$1040.79	$1040.79	—	COM	38259p508
SPOT	Spotify Technology SA	19,000	$3.133M	0.7%	$164.89	$164.89	—	COM	L8681T102
—	Magnachip Semiconduct	274,957	$2.997M	0.7%	$10.90	$10.74	—	COM	55933j203
—	Energy Transfer Partners LP	153,800	$2.79M	0.7%	$18.14	$40.49	—	PTP	29273R109
WY	Weyerhaeuser Co	73,840	$2.687M	0.6%	$36.39 *	$21.11	+22.5%	COM	962166104
—	Herc Holdings Inc	52,000	$2.671M	0.6%	$51.37	$51.37	—	COM	42704l104
XOM	Exxon Mobil Corp	34,660	$2.667M	0.6%	$76.95 *	$53.81	-2.9%	COM	30231G102
WFC	Wells Fargo & Co	50,610	$2.66M	0.6%	$52.56 *	$28.39	+48.6%	COM	949746101
—	Magellan Midstream Partners (L	40,000	$2.652M	0.6%	$66.30	$54.50	—	PTP	559080106
—	Williams Partners LP	71,361	$2.619M	0.6%	$36.70	$51.60	—	PTP	96950F104
INTC	Intel Corp	48,146	$2.568M	0.6%	$53.34 *	$17.38	+153.2%	COM	458140100
—	Royal Dutch Petroleum Co	35,700	$2.465M	0.6%	$69.05	$63.44	—	COM	780259206
PFE	Pfizer Inc	69,506	$2.461M	0.6%	$35.41 *	$16.56	+43.8%	COM	717081103
—	Duke Energy Corp	30,041	$2.398M	0.6%	$79.82	$67.64	—	COM	26441C105
—	Discovery Communications, Inc.	99,807	$2.396M	0.6%	$24.01	$31.85	—	COM	039014718
PAA	Plains All American Pipeline (	98,862	$2.331M	0.5%	$23.58	$55.81	—	PTP	726503105
—	Wynn Resorts Ltd.	12,101	$2.322M	0.5%	$191.88	$98.67	—	COM	983143410
CNDT	Conduent Inc	116,675	$2.269M	0.5%	$19.45 *	$16.38	+13.8%	COM	206787103
—	Carrols Restaurant Group Inc.	212,674	$2.244M	0.5%	$10.55	$14.25	—	COM	14574x104
IVV	iShares S&P 500 Index Fund/US	8,358	$2.23M	0.5%	$266.81	$163.85	+62.0%	COM	464287200
SNNAQ	Sienna Biopharmaceuticals Inc	113,917	$2.163M	0.5%	$18.99 *	$17.48	0.0%	COM	82622H108
VZ	Verizon Communications Inc	42,435	$2.072M	0.5%	$48.83 *	$28.15	+11.7%	COM	92343V104
—	Australia and New Zealand Bank	100,000	$2.061M	0.5%	$20.61	$26.12	—	COM	052528304
—	Time Warner Inc	21,054	$1.985M	0.5%	$94.28	$58.62	—	COM	887317105
EIX	Edison International	30,050	$1.969M	0.5%	$65.52 *	$30.71	+48.8%	COM	281020107
WMB	Williams Cos Inc.	72,200	$1.874M	0.4%	$25.96 *	$19.40	-16.4%	COM	969457100
INTU	Intuit Inc	9,980	$1.869M	0.4%	$187.27 *	$55.85	+194.3%	COM	461202103
COST	Costco Wholesale Corp	9,204	$1.809M	0.4%	$196.54 *	$86.75	+95.1%	COM	22160K105
—	DXC Technology Company	17,095	$1.757M	0.4%	$102.78	$85.87	—	COM	23355l106
YUM	Yum! Brands Inc.	19,950	$1.728M	0.4%	$86.62 *	$38.97	+89.6%	COM	988498101
—	Enbridge Energy Partners LP	157,976	$1.659M	0.4%	$10.50	$30.49	—	PTP	29250R106
—	Dell Technologies Inc - CL V	22,589	$1.613M	0.4%	$71.41	$47.81	—	COM	24703L103
—	Nasdaq-100 Index Tracking Stoc	9,172	$1.493M	0.4%	$162.78	$145.44	—	COM	73935a104
ET	Energy Transfer Equity LP	82,100	$1.302M	0.3%	$15.86	$18.29	—	PTP	29273V100
CL	Colgate-Palmolive Co	20,000	$1.3M	0.3%	$65.00 *	$44.54	+33.7%	COM	194162103
—	Viacom CL B	43,080	$1.291M	0.3%	$29.97	$69.49	—	COM	92553P201
MA	Mastercard, Inc.	6,900	$1.244M	0.3%	$180.29 *	$71.04	+136.2%	COM	57636Q104
VTR	Ventas Inc (REIT)	22,223	$1.165M	0.3%	$52.42 *	$49.18	-27.0%	COM	92276F100
VWO	Vanguard MSCI Emerging Mkts	25,387	$1.153M	0.3%	$45.42 *	$38.30	+22.7%	COM	922042858
AMZN	Amazon.com Inc	655	$1.036M	0.2%	$1581.68 *	$34.52	+109.6%	COM	023135106
—	DowDuPont Inc.	16,320	$1.029M	0.2%	$63.05	$69.21	—	COM	26078j100
—	AbbVie Inc.	10,038	$1.025M	0.2%	$102.11	$41.34	—	COM	002874y10
TGT	Target Corp	13,376	$951K	0.2%	$71.10 *	$47.01	+19.1%	COM	87612E106
CLPHY	CLP Holdings Ltd	86,400	$902K	0.2%	$10.44	$8.62	+19.9%	COM	18946Q101
SO	Southern Co/The	19,000	$870K	0.2%	$45.79 *	$26.74	+21.8%	COM	842587107
—	Yum China Holdings Inc	19,950	$847K	0.2%	$42.46	$26.12	—	COM	98850p109
BMY	Bristol-Myers Squibb Co	15,000	$790K	0.2%	$52.67 *	$29.94	+58.0%	COM	110122108
PLAY	Dave & Buster's Entertainment	18,125	$769K	0.2%	$42.43	$59.48	-29.8%	COM	238337109
—	Comcast Corp Cl A	23,622	$757K	0.2%	$32.05	$46.99	—	COM	20030n101
—	Goldman Sachs Middle Market Le	39,039	$750K	0.2%	$19.21	$19.20	—	COM	9EQ4GKU01
MDU	MDU Resources Group Inc	26,324	$742K	0.2%	$28.19 *	$6.58	+29.4%	COM	552690109
M	Macy's Inc	23,068	$709K	0.2%	$30.74 *	$64.73	-54.1%	COM	55616P104
OKE	Oneok Inc	11,714	$709K	0.2%	$60.53 *	$32.05	+8.7%	COM	682680103
CHTR	Charter Communications Inc	2,486	$695K	0.2%	$279.57 *	$214.89	+44.8%	COM	16119P108
PPG	PPG Industries Inc	6,400	$684K	0.2%	$106.88 *	$77.00	+25.1%	COM	693506107
AMGN	Amgen Inc.	3,989	$675K	0.2%	$169.22 *	$73.34	+83.6%	COM	031162100
T	AT&T Corp	19,915	$648K	0.2%	$32.54 *	$10.93	+40.2%	COM	00206R102
EMR	Emerson Electric Co.	9,313	$642K	0.2%	$68.94 *	$40.02	+41.9%	COM	291011104
ABT	Abbott Laboratories	10,038	$590K	0.1%	$58.78 *	$28.85	+81.4%	COM	002824100
NI	NiSource Inc	21,200	$520K	0.1%	$24.53 *	$7.81	+137.5%	COM	65473P105
IWS	iShares Russell Midcap Value I	5,688	$493K	0.1%	$86.67	$58.58	+47.5%	COM	464287473
SRE	Sempra Energy	4,400	$491K	0.1%	$111.59 *	$27.84	+55.9%	COM	816851109
IWP	iShares Russell Midcap Growth	4,013	$490K	0.1%	$122.10 *	$35.74	+72.0%	COM	464287481
HON	Honeywell International Inc	3,350	$484K	0.1%	$144.48 *	$53.13	+109.2%	COM	438516106
—	United Parcel Service Inc	4,250	$478K	0.1%	$112.47	$88.36	—	COM	013104104
—	Nustar GP Holdings LLC	41,775	$478K	0.1%	$11.44	$26.73	—	PTP	67059L102
BP	BP PLC	9,832	$440K	0.1%	$44.75 *	$42.56	-4.7%	COM	055622104
BAX	Baxter International Inc	6,000	$421K	0.1%	$70.17 *	$31.05	+82.7%	COM	071813109
AAPL	Apple Computer Inc	2,408	$407K	0.1%	$169.02 *	$30.44	+29.6%	COM	037833100
IEV	iShares S&P Euro 350 Index	8,491	$402K	0.1%	$47.34	$41.80	+11.6%	COM	464287861
—	WageWorks, Inc.	9,441	$396K	0.1%	$41.94	$62.14	—	COM	930427109
—	Source Capital Inc.	9,574	$382K	0.1%	$39.90	$61.73	—	COM	836144105
BA	Boeing Co	1,080	$356K	0.1%	$329.63 *	$158.76	+97.8%	COM	097023105
MRK	Merck & Co Inc	5,967	$346K	0.1%	$57.99 *	$30.02	+36.4%	COM	58933Y105
BCE	BCE Inc	7,918	$335K	0.1%	$42.31 *	$22.29	+19.4%	COM	05534B760
STT	State Street Corp	3,000	$295K	0.1%	$98.33 *	$49.69	+57.6%	COM	857477103
—	Berkshire Hathaway, Inc. Class	100	$293K	0.1%	$2930.00	$2170.00	—	COM	084990175
—	Praxair Inc	1,850	$284K	0.1%	$153.51	$112.43	—	COM	74005P104
MAR	Marriot International Inc	2,064	$284K	0.1%	$137.60 *	$80.37	+58.7%	COM	571903202
—	Enbridge Inc.	9,140	$280K	0.1%	$30.63	$41.79	—	COM	29250n105
—	Canadian Pacific Railway Ltd	1,500	$268K	0.1%	$178.67	$152.67	—	COM	135923100
USB	US Bancorp	5,000	$254K	0.1%	$50.80 *	$25.38	+46.1%	COM	902973304
—	Hospitality Properties Trust (	10,000	$251K	0.1%	$25.10	$26.30	—	COM	44106M102
—	Alphabet Inc. Class A	240	$249K	0.1%	$1037.50	$829.17	—	COM	38259p706
BRK/B	Berkshire Hathaway	1,249	$244K	0.1%	$195.36 *	$153.96	+29.6%	COM	084670702
FDX	FedEx Corp	950	$232K	0.1%	$244.21 *	$165.14	+27.0%	COM	31428X106
NUE	Nucor Corp	3,794	$229K	0.1%	$60.36 *	$50.16	+3.2%	COM	670346105
BIO	Bio-Rad	900	$228K	0.1%	$253.33	$242.32	+3.2%	COM	090572207
PFLC	Pacific Financial Corp	10,570	$119K	0.0%	$11.26 *	$6.69	+12.8%	COM	694275108
DDEJF	Dundee Bancorp Inc.	58,111	$98,000	0.0%	$1.69 *	$22.10	-91.4%	COM	264901109
—	Rite Aid Corp	42,435	$70,000	0.0%	$1.65	$5.02	—	COM	767754104
—	Tahoe Resources Inc	13,000	$65,000	0.0%	$5.00	$5.19	—	COM	873868103
—	Ensco PLC	10,000	$55,000	0.0%	$5.50	$58.10	—	COM	29358Q109
—	Oaktree Specialty Lending Corp	12,000	$52,000	0.0%	$4.33	$4.92	—	COM	67401p108
—	Enduro Royalty Trust	10,652	$40,000	0.0%	$3.76	$13.81	—	COM	29269k100
BNDSF	Banco de Sabadell SA	10,000	$20,000	0.0%	$2.00 *	$1.43	+9.7%	COM	E15819191
PMTYF	Playmates Toys	88,000	$10,000	0.0%	$0.11	$0.14	-32.1%	COM	G7147S100
—	SunEdison, Inc.	20,408	$0	0.0%	$0.00	$0.15	—	COM	86732y109