Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TMO	Thermo Electron Corp	77,895	$19.01M	4.3%	$79.76	+182.9%	COM	883556102
UNH	United Health Group Inc.	65,914	$17.54M	4.0%	$50.94	+352.8%	COM	91324P102
SYK	Stryker Corp	91,243	$16.21M	3.7%	$56.92	+176.8%	COM	863667101
JPM	JP Morgan Chase & Co	132,945	$15M	3.4%	$36.38	+154.6%	COM	46625H100
PEP	Pepsico Inc.	109,707	$12.27M	2.8%	$56.00	+61.3%	COM	713448108
SCHW	Charles Schwab Corp	234,096	$11.51M	2.6%	$15.92	+189.3%	COM	808513105
CSCO	Cisco Systems Inc	227,457	$11.07M	2.5%	$15.35	+134.9%	COM	17275R102
EPD	Enterprise Products Partners L	371,977	$10.69M	2.4%	$48.50	—	PTP	293792107
MMM	Minnesota Mining & Manufacturi	48,017	$10.12M	2.3%	$62.10	+112.9%	COM	88579Y101
—	Aetna Inc	47,580	$9.652M	2.2%	$63.54	—	COM	00817Y108
ZBH	Zimmer Holdings Inc	71,452	$9.394M	2.1%	$72.18	+55.1%	COM	98956P102
—	United Technologies Corp	65,998	$9.227M	2.1%	$92.74	—	COM	913017109
MSFT	Microsoft Corp	78,066	$8.928M	2.0%	$26.70	+277.5%	COM	594918104
—	Constellation Brands Inc	41,171	$8.877M	2.0%	$153.30	—	COM	20136p108
POST	Post Holdings Inc.	80,439	$7.886M	1.8%	$41.05	+49.5%	COM	737446104
JNJ	Johnson & Johnson	57,054	$7.883M	1.8%	$59.66	+81.1%	COM	478160104
CSX	CSX Corp	102,812	$7.613M	1.7%	$6.68	+222.8%	COM	126408103
AMAT	Applied Materials Inc	193,750	$7.488M	1.7%	$12.48	+226.2%	COM	038222105
NVS	Novartis AG ADR	82,493	$7.108M	1.6%	$70.71	—	COM	66987V109
IBM	International Business Machine	46,717	$7.064M	1.6%	$118.25	-14.4%	COM	459200101
—	Medtronic PLC	68,333	$6.722M	1.5%	$52.84	—	COM	585055106
—	GasLog Ltd.	327,883	$6.476M	1.5%	$13.94	—	COM	G37585109
ORCL	Oracle Corp	124,389	$6.413M	1.4%	$27.57	+58.0%	COM	68389X105
PG	Procter & Gamble Co	71,684	$5.966M	1.3%	$55.24	+22.7%	COM	742718109
CME	CME Group, Inc.	33,640	$5.726M	1.3%	$39.16	+229.7%	COM	12572Q105
CVX	ChevronTexaco Corp	44,192	$5.404M	1.2%	$71.40	+23.1%	COM	166764100
—	Anheuser-Busch Cos Inc	59,650	$5.224M	1.2%	$90.26	—	COM	035229103
NEE	NextEra Energy, Inc.	31,118	$5.215M	1.2%	$14.15	+150.6%	COM	65339F101
—	Walgreens Boots Alliance Inc	71,132	$5.186M	1.2%	$76.92	—	COM	931427108
—	Herc Holdings Inc	98,368	$5.036M	1.1%	$51.42	—	COM	42704l104
—	Berry Plastics Group Inc	98,023	$4.743M	1.1%	$44.86	—	COM	08579w103
HRTX	Heron Therapeutics Inc	141,000	$4.463M	1.0%	$22.68	+64.2%	COM	427746102
—	Caesars Entertainment Corp	428,757	$4.395M	1.0%	$10.63	—	COM	127686103
WMB	Williams Cos Inc.	155,340	$4.224M	1.0%	$19.29	-0.3%	COM	969457100
UNP	Union Pacific Corp	25,846	$4.209M	0.9%	$66.07	+93.4%	COM	907818108
MCK	McKesson Corp	31,722	$4.208M	0.9%	$129.68	-5.1%	COM	58155Q103
—	Buckeye Partners LP	112,474	$4.016M	0.9%	$67.07	—	PTP	118230101
BK	Bank of New York Co Inc/The	78,356	$3.995M	0.9%	$21.22	+101.3%	COM	064058100
LVS	Las Vegas Sands Corp	66,356	$3.937M	0.9%	$41.51	+40.4%	COM	517834107
DE	Deere & Co	25,024	$3.762M	0.8%	$68.04	+89.0%	COM	244199105
—	Alphabet Inc. Class C	3,041	$3.671M	0.8%	$1040.79	—	COM	38259p508
SLB	Schlumberger Ltd	59,031	$3.596M	0.8%	$55.52	-6.3%	COM	806857108
—	Constellium NV	286,312	$3.536M	0.8%	$11.15	—	COM	n22035104
—	Energy Transfer Partners LP	153,800	$3.424M	0.8%	$40.49	—	PTP	29273R109
—	General Electric Co.	301,791	$3.407M	0.8%	$23.28	—	COM	369604103
—	Dollar Tree Stores Inc.	41,725	$3.403M	0.8%	$81.26	—	COM	256747106
SPOT	Spotify Technology SA	18,230	$3.297M	0.7%	$164.89	+11.2%	COM	L8681T102
—	Discovery Communications, Inc.	96,241	$3.08M	0.7%	$31.85	—	COM	039014718
PFE	Pfizer Inc	69,506	$3.063M	0.7%	$16.56	+67.0%	COM	717081103
XOM	Exxon Mobil Corp	34,660	$2.947M	0.7%	$53.81	+8.1%	COM	30231G102
TCEHY	Tencent Holdings Ltd	66,803	$2.728M	0.6%	$51.93	—	COM	88032Q109
—	Magellan Midstream Partners (L	40,000	$2.709M	0.6%	$54.50	—	PTP	559080106
WFC	Wells Fargo & Co	50,610	$2.66M	0.6%	$28.39	+63.8%	COM	949746101
CNDT	Conduent Inc	117,565	$2.648M	0.6%	$16.38	+25.3%	COM	206787103
—	Magnachip Semiconductor	266,724	$2.641M	0.6%	$10.74	—	COM	55933j203
IVV	iShares S&P 500 Index Fund/US	8,372	$2.451M	0.6%	$163.22	—	COM	464287200
—	Duke Energy Corp	30,471	$2.438M	0.5%	$67.80	—	COM	26441C105
—	Royal Dutch Petroleum Co	35,700	$2.433M	0.5%	$63.44	—	COM	780259206
PAA	Plains All American Pipeline (	96,937	$2.424M	0.5%	$55.81	—	PTP	726503105
WY	Weyerhaeuser Co	73,840	$2.383M	0.5%	$21.11	+22.7%	COM	962166104
INTC	Intel Corp	48,486	$2.293M	0.5%	$17.38	+138.8%	COM	458140100
VZ	Verizon Communications Inc	42,865	$2.289M	0.5%	$28.19	+26.4%	COM	92343V104
INTU	Intuit Inc	9,980	$2.269M	0.5%	$55.85	+266.3%	COM	461202103
—	Dell Technologies Inc - CL V	22,523	$2.187M	0.5%	$47.81	—	COM	24703L103
COST	Costco Wholesale Corp	9,204	$2.162M	0.5%	$86.75	+134.2%	COM	22160K105
EIX	Edison International	30,380	$2.056M	0.5%	$30.86	+57.1%	COM	281020107
—	Australia and New Zealand Bank	91,370	$1.845M	0.4%	$26.12	—	COM	052528304
—	Despegar.com Corp	108,610	$1.832M	0.4%	$20.56	—	COM	G27358103
YUM	Yum! Brands Inc.	19,950	$1.814M	0.4%	$38.97	+87.1%	COM	988498101
—	Verastem Inc	249,600	$1.81M	0.4%	$7.25	—	COM	92337c104
—	Zogenix Inc	35,508	$1.761M	0.4%	$49.59	—	COM	98978l204
—	Enbridge Energy Partners LP	157,976	$1.736M	0.4%	$30.49	—	PTP	29250R106
—	Nasdaq-100 Index Tracking Stoc	9,172	$1.704M	0.4%	$145.44	—	COM	73935a104
T	AT&T Corp	50,156	$1.684M	0.4%	$13.10	+10.5%	COM	00206R102
—	DXC Technology Company	17,306	$1.618M	0.4%	$85.81	—	COM	23355l106
SNNAQ	Sienna Biopharmaceuticals Inc	108,010	$1.601M	0.4%	$17.47	-9.1%	COM	82622H108
MA	Mastercard, Inc.	6,900	$1.536M	0.3%	$71.04	+182.0%	COM	57636Q104
PAGS	Pagseguro Digital LTD	54,000	$1.494M	0.3%	$27.20	0.0%	COM	G68707101
—	Wynn Resorts Ltd.	11,500	$1.461M	0.3%	$98.67	—	COM	983143410
—	Viacom CL B	43,080	$1.454M	0.3%	$69.49	—	COM	92553P201
ET	Energy Transfer Equity LP	82,100	$1.431M	0.3%	$18.29	—	PTP	29273V100
AMZN	Amazon.com Inc	675	$1.352M	0.3%	$35.85	+162.3%	COM	023135106
CL	Colgate-Palmolive Co	20,000	$1.339M	0.3%	$44.54	+25.7%	COM	194162103
VTR	Ventas Inc (REIT)	22,713	$1.235M	0.3%	$48.94	-13.0%	COM	92276F100
TGT	Target Corp	13,376	$1.18M	0.3%	$47.01	+44.6%	COM	87612E106
PLAY	Dave & Buster's Entertainment	17,818	$1.18M	0.3%	$59.48	-8.9%	COM	238337109
—	DowDuPont Inc.	16,620	$1.069M	0.2%	$69.15	—	COM	26078j100
—	Goldman Sachs Middle Market Le	54,592	$1.037M	0.2%	$19.16	—	COM	9EQ4GKU01
CLPHY	CLP Holdings Ltd	86,400	$1.014M	0.2%	$8.16	—	COM	18946Q101
VWO	Vanguard MSCI Emerging Mkts	24,320	$997K	0.2%	$39.59	—	COM	922042858
—	AbbVie Inc.	10,038	$949K	0.2%	$41.34	—	COM	002874y10
BMY	Bristol-Myers Squibb Co	15,000	$931K	0.2%	$29.94	+50.2%	COM	110122108
—	Comcast Corp Cl A	23,622	$836K	0.2%	$46.99	—	COM	20030n101
SO	Southern Co/The	19,000	$828K	0.2%	$26.74	+28.2%	COM	842587107
AMGN	Amgen Inc.	3,989	$827K	0.2%	$73.34	+114.6%	COM	031162100
CHTR	Charter Communications Inc	2,486	$810K	0.2%	$214.89	+42.0%	COM	16119P108
M	Macy's Inc	23,068	$801K	0.2%	$64.73	-42.5%	COM	55616P104
OKE	Oneok Inc	11,714	$794K	0.2%	$32.05	+33.5%	COM	682680103
ABT	Abbott Laboratories	10,038	$736K	0.2%	$28.85	+100.5%	COM	002824100
PPG	PPG Industries Inc	6,600	$720K	0.2%	$77.45	+22.3%	COM	693506107
EMR	Emerson Electric Co.	9,313	$713K	0.2%	$40.02	+54.8%	COM	291011104
—	Yum China Holdings Inc	19,950	$700K	0.2%	$26.12	—	COM	98850p109
MDU	MDU Resources Group Inc	26,324	$676K	0.2%	$6.58	+30.4%	COM	552690109
—	NuStar Energy LP	21,049	$585K	0.1%	$22.65	—	PTP	67058H102
HON	Honeywell International Inc	3,350	$557K	0.1%	$53.13	+128.9%	COM	438516106
IWP	iShares Russell Midcap Growth	4,017	$545K	0.1%	$71.84	—	COM	464287481
AAPL	Apple Computer Inc	2,408	$544K	0.1%	$30.44	+61.9%	COM	037833100
NI	NiSource Inc	21,200	$528K	0.1%	$7.81	+166.4%	COM	65473P105
IWS	iShares Russell Midcap Value I	5,699	$514K	0.1%	$58.64	—	COM	464287473
SRE	Sempra Energy	4,400	$500K	0.1%	$27.84	+63.6%	COM	816851109
—	United Parcel Service Inc	4,250	$496K	0.1%	$88.36	—	COM	013104104
BAX	Baxter International Inc	6,000	$463K	0.1%	$31.05	+109.1%	COM	071813109
BP	BP PLC	9,832	$453K	0.1%	$41.77	—	COM	055622104
MRK	Merck & Co Inc	5,967	$423K	0.1%	$30.02	+68.7%	COM	58933Y105
—	WageWorks, Inc.	9,441	$404K	0.1%	$62.14	—	COM	930427109
BA	Boeing Co	1,080	$402K	0.1%	$158.76	+113.6%	COM	097023105
IEV	iShares S&P Euro 350 Index	8,581	$387K	0.1%	$39.95	—	COM	464287861
—	Source Capital Inc.	9,574	$385K	0.1%	$61.73	—	COM	836144105
—	Alphabet Inc. Class A	280	$334K	0.1%	$869.90	—	COM	38259p706
BCE	BCE Inc	7,918	$321K	0.1%	$22.29	+16.2%	COM	05534B760
—	Berkshire Hathaway, Inc. Class	100	$320K	0.1%	$2170.00	—	COM	084990175
—	Canadian Pacific Railway Ltd	1,500	$318K	0.1%	$152.67	—	COM	135923100
—	Praxair Inc	1,850	$297K	0.1%	$112.43	—	COM	74005P104
—	Enbridge Inc.	9,140	$295K	0.1%	$41.79	—	COM	29250n105
—	Hospitality Properties Trust (	10,000	$288K	0.1%	$26.30	—	COM	44106M102
BIO	Bio-Rad	900	$282K	0.1%	$242.32	+28.1%	COM	090572207
MAR	Marriot International Inc	2,064	$273K	0.1%	$80.37	+49.5%	COM	571903202
BRK/B	Berkshire Hathaway	1,249	$267K	0.1%	$153.96	+33.3%	COM	084670702
USB	US Bancorp	5,000	$264K	0.1%	$25.38	+54.2%	COM	902973304
STT	State Street Corp	3,000	$251K	0.1%	$49.69	+39.5%	COM	857477103
FDX	FedEx Corp	1,040	$250K	0.1%	$169.58	+25.1%	COM	31428X106
GILD	Gilead Sciences	3,100	$239K	0.1%	$52.72	+7.8%	COM	375558103
LOW	Lowe's Cos	2,000	$230K	0.1%	$91.02	0.0%	COM	548661107
—	Perspecta Inc	8,538	$220K	0.0%	$25.77	—	COM	715347100
—	Bigen Idec Ltd.	600	$212K	0.0%	$353.33	—	COM	09062x103
PFLC	Pacific Financial Corp	10,570	$134K	0.0%	$6.69	+30.6%	COM	694275108
—	Rite Aid Corp	86,955	$111K	0.0%	$3.12	—	COM	767754104
DDEJF	Dundee Bancorp Inc.	58,111	$77,000	0.0%	$22.10	-94.9%	COM	264901109
—	Oaktree Specialty Lending Corp	12,000	$60,000	0.0%	$4.92	—	COM	67401p108
—	Neptune Tech & Bioresources	10,850	$42,000	0.0%	$3.87	—	COM	64077p108
—	Tahoe Resources Inc	13,000	$36,000	0.0%	$5.19	—	COM	873868103
BNDSF	Banco de Sabadell SA	10,000	$16,000	0.0%	$1.43	-15.3%	COM	E15819191
PMTYF	Playmates Toys	88,000	$8,000	0.0%	$0.14	-54.2%	COM	G7147S100
—	SunEdison, Inc.	20,408	$0	0.0%	$0.15	—	COM	86732y109