Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TMO	Thermo Electron Corp	74,135	$21.59M	5.0%	$79.76	+253.1%	COM	883556102
SYK	Stryker Corp	91,323	$19.75M	4.5%	$56.92	+251.7%	COM	863667101
JPM	JP Morgan Chase & Co	131,375	$15.46M	3.6%	$36.38	+161.4%	COM	46625H100
PEP	Pepsico Inc.	109,727	$15.04M	3.5%	$56.00	+95.3%	COM	713448108
UNH	United Health Group Inc.	66,114	$14.37M	3.3%	$50.94	+326.3%	COM	91324P102
CSCO	Cisco Systems Inc	227,457	$11.24M	2.6%	$15.35	+178.8%	COM	17275R102
MSFT	Microsoft Corp	78,386	$10.9M	2.5%	$26.70	+386.5%	COM	594918104
EPD	Enterprise Products Partners L	372,177	$10.64M	2.4%	$48.50	—	PTP	293792107
SCHW	Charles Schwab Corp	234,476	$9.808M	2.3%	$15.92	+131.9%	COM	808513105
AMAT	Applied Materials Inc	193,600	$9.661M	2.2%	$12.48	+263.4%	COM	038222105
—	Constellation Brands Inc	45,107	$9.35M	2.1%	$154.30	—	COM	20136p108
—	United Technologies Corp	66,048	$9.017M	2.1%	$92.74	—	COM	913017109
PG	Procter & Gamble Co	71,804	$8.931M	2.1%	$55.24	+82.8%	COM	742718109
POST	Post Holdings Inc.	81,139	$8.588M	2.0%	$41.05	+66.0%	COM	737446104
MMM	Minnesota Mining & Manufacturi	48,207	$7.925M	1.8%	$62.10	+78.1%	COM	88579Y101
JNJ	Johnson & Johnson	57,224	$7.404M	1.7%	$59.66	+84.4%	COM	478160104
NEE	NextEra Energy, Inc.	31,358	$7.306M	1.7%	$14.15	+226.8%	COM	65339F101
NVS	Novartis AG ADR	82,783	$7.194M	1.7%	$70.71	—	COM	66987V109
IBM	International Business Machine	49,341	$7.175M	1.6%	$117.09	-12.5%	COM	459200101
CSX	CSX Corp	102,822	$7.122M	1.6%	$6.68	+219.5%	COM	126408103
CME	CME Group, Inc.	33,640	$7.109M	1.6%	$39.16	+319.6%	COM	12572Q105
ORCL	Oracle Corp	123,769	$6.811M	1.6%	$27.57	+82.7%	COM	68389X105
CVS	CVS Corp	107,189	$6.76M	1.6%	$53.17	-9.0%	COM	126650100
ZBH	Zimmer Holdings Inc	46,892	$6.437M	1.5%	$72.18	+69.9%	COM	98956P102
CVX	ChevronTexaco Corp	49,230	$5.839M	1.3%	$73.28	+24.9%	COM	166764100
DE	Deere & Co	33,112	$5.585M	1.3%	$85.75	+70.3%	COM	244199105
—	Anheuser-Busch Cos Inc	55,110	$5.244M	1.2%	$90.26	—	COM	035229103
—	Berry Plastics Group Inc	128,225	$5.035M	1.2%	$44.11	—	COM	08579w103
PAGS	Pagseguro Digital LTD	102,820	$4.762M	1.1%	$25.77	+80.3%	COM	G68707101
—	Buckeye Partners LP	110,874	$4.556M	1.0%	$67.07	—	PTP	118230101
V	Visa, Inc	26,360	$4.534M	1.0%	$137.10	+24.2%	COM	92826C839
—	Medtronic PLC	40,157	$4.362M	1.0%	$52.84	—	COM	585055106
—	GasLog Ltd.	331,683	$4.262M	1.0%	$13.94	—	COM	G37585109
MCK	McKesson Corp	31,100	$4.25M	1.0%	$129.68	+4.6%	COM	58155Q103
UNP	Union Pacific Corp	25,692	$4.162M	1.0%	$66.07	+120.7%	COM	907818108
LVS	Las Vegas Sands Corp	67,092	$3.875M	0.9%	$41.51	+28.5%	COM	517834107
—	Alphabet Inc. Class C	3,093	$3.777M	0.9%	$1041.22	—	COM	38259p508
WMB	Williams Cos Inc.	155,616	$3.744M	0.9%	$19.29	-8.6%	COM	969457100
—	Constellium NV	292,112	$3.713M	0.9%	$11.13	—	COM	n22035104
ET	Energy Transfer Equity LP	278,964	$3.649M	0.8%	$14.71	—	PTP	29273V100
BK	Bank of New York Co Inc/The	78,156	$3.533M	0.8%	$21.22	+74.4%	COM	064058100
—	Magnachip Semiconductor	339,560	$3.443M	0.8%	$10.00	—	COM	55933j203
—	Activision Blizzard	61,024	$3.229M	0.7%	$49.21	—	COM	00507v109
PPG	PPG Industries Inc	26,880	$3.186M	0.7%	$94.64	+7.6%	COM	693506107
—	Duke Energy Corp	30,971	$2.969M	0.7%	$68.10	—	COM	26441C105
XOM	Exxon Mobil Corp	41,460	$2.927M	0.7%	$54.32	-1.0%	COM	30231G102
—	Magellan Midstream Partners (L	41,000	$2.717M	0.6%	$54.56	—	PTP	559080106
TCEHY	Tencent Holdings Ltd	64,103	$2.669M	0.6%	$51.93	—	COM	88032Q109
INTU	Intuit Inc	9,980	$2.654M	0.6%	$55.85	+372.7%	COM	461202103
COST	Costco Wholesale Corp	9,204	$2.652M	0.6%	$86.75	+195.5%	COM	22160K105
HRTX	Heron Therapeutics Inc	142,330	$2.633M	0.6%	$22.68	-18.9%	COM	427746102
INTC	Intel Corp	50,086	$2.581M	0.6%	$18.18	+136.7%	COM	458140100
—	Discovery Communications, Inc.	96,241	$2.563M	0.6%	$31.85	—	COM	039014718
PFE	Pfizer Inc	69,506	$2.497M	0.6%	$16.56	+63.2%	COM	717081103
IVV	iShares S&P 500 Index Fund/US	8,016	$2.393M	0.5%	$163.22	—	COM	464287200
EIX	Edison International	30,980	$2.337M	0.5%	$31.15	+74.0%	COM	281020107
YUM	Yum! Brands Inc.	19,950	$2.263M	0.5%	$38.97	+160.5%	COM	988498101
CAG	ConAgra Foods Inc.	73,463	$2.254M	0.5%	$22.21	-0.1%	COM	205887102
—	Lyft	54,192	$2.213M	0.5%	$40.84	—	COM	55087p104
PLAY	Dave & Buster's Entertainment	56,693	$2.208M	0.5%	$46.32	-13.0%	COM	238337109
—	Alibaba Group Holding-SP	12,831	$2.146M	0.5%	$167.25	—	COM	01609w102
SPOT	Spotify Technology SA	18,505	$2.11M	0.5%	$164.62	-14.2%	COM	L8681T102
—	Royal Dutch Petroleum Co	35,700	$2.101M	0.5%	$63.44	—	COM	780259206
WY	Weyerhaeuser Co	73,840	$2.045M	0.5%	$21.11	-2.8%	COM	962166104
—	Despegar.com Corp	178,933	$2.026M	0.5%	$17.50	—	COM	G27358103
PAA	Plains All American Pipeline (	96,937	$2.011M	0.5%	$55.81	—	PTP	726503105
T	AT&T Corp	50,156	$1.898M	0.4%	$13.10	+29.8%	COM	00206R102
MA	Mastercard, Inc.	6,850	$1.86M	0.4%	$71.04	+274.6%	COM	57636Q104
—	New Relic Inc	29,517	$1.814M	0.4%	$61.46	—	COM	64829b100
—	Australia and New Zealand Bank	91,370	$1.755M	0.4%	$26.12	—	COM	052528304
—	Nasdaq-100 Index Tracking Stoc	9,172	$1.732M	0.4%	$145.44	—	COM	73935a104
VTR	Ventas Inc (REIT)	23,333	$1.704M	0.4%	$48.81	+12.6%	COM	92276F100
FDX	FedEx Corp	11,011	$1.603M	0.4%	$184.32	-22.3%	COM	31428X106
SLB	Schlumberger Ltd	45,040	$1.539M	0.4%	$55.52	-44.2%	COM	806857108
CL	Colgate-Palmolive Co	20,000	$1.47M	0.3%	$44.54	+40.4%	COM	194162103
—	Zogenix Inc	36,048	$1.443M	0.3%	$49.40	—	COM	98978l204
TGT	Target Corp	13,376	$1.43M	0.3%	$47.01	+71.0%	COM	87612E106
ZTS	Zoetis	11,074	$1.38M	0.3%	$85.91	+33.4%	COM	98978V103
—	Goldman Sachs Middle Market Le	71,707	$1.352M	0.3%	$19.14	—	COM	9EQ4GKU01
—	Wynn Resorts Ltd.	11,720	$1.274M	0.3%	$98.67	—	COM	983143410
AMZN	Amazon.com Inc	696	$1.208M	0.3%	$37.54	+147.0%	COM	023135106
SO	Southern Co/The	19,000	$1.174M	0.3%	$26.74	+69.3%	COM	842587107
—	Comcast Corp Cl A	23,622	$1.065M	0.2%	$46.99	—	COM	20030n101
CHTR	Charter Communications Inc	2,483	$1.023M	0.2%	$214.89	+87.8%	COM	16119P108
—	Viacom CL B	41,830	$1.005M	0.2%	$69.49	—	COM	92553P201
VWO	Vanguard MSCI Emerging Mkts	24,590	$990K	0.2%	$39.59	—	COM	922042858
ALC	Alcon, Inc	16,556	$965K	0.2%	$57.87	+2.2%	COM	H01301128
—	Harvest	294,759	$940K	0.2%	$9.01	—	COM	41755M102
—	Yum China Holdings Inc	19,950	$906K	0.2%	$26.12	—	COM	98850p109
CLPHY	CLP Holdings Ltd	86,400	$906K	0.2%	$8.16	—	COM	18946Q101
ABT	Abbott Laboratories	10,038	$840K	0.2%	$28.85	+163.8%	COM	002824100
OKE	Oneok Inc	10,835	$798K	0.2%	$32.05	+45.4%	COM	682680103
AMGN	Amgen Inc.	3,989	$772K	0.2%	$73.34	+115.4%	COM	031162100
BMY	Bristol-Myers Squibb Co	15,000	$761K	0.2%	$29.94	+22.8%	COM	110122108
—	AbbVie Inc.	10,038	$760K	0.2%	$41.34	—	COM	002874y10
MDU	MDU Resources Group Inc	26,324	$742K	0.2%	$6.58	+28.4%	COM	552690109
CNDT	Conduent Inc	118,657	$738K	0.2%	$16.37	-52.7%	COM	206787103
SRE	Sempra Energy	4,400	$649K	0.1%	$27.84	+104.2%	COM	816851109
NI	NiSource Inc	21,200	$634K	0.1%	$7.81	+204.0%	COM	65473P105
EMR	Emerson Electric Co.	9,313	$623K	0.1%	$40.02	+35.8%	COM	291011104
—	NuStar Energy LP	20,967	$594K	0.1%	$22.65	—	PTP	67058H102
—	Verastem Inc	479,123	$580K	0.1%	$4.52	—	COM	92337c104
HON	Honeywell International Inc	3,350	$567K	0.1%	$53.13	+162.2%	COM	438516106
AAPL	Apple Computer Inc	2,458	$551K	0.1%	$30.84	+62.8%	COM	037833100
IWP	iShares Russell Midcap Growth	3,801	$537K	0.1%	$71.84	—	COM	464287481
BAX	Baxter International Inc	6,000	$525K	0.1%	$31.05	+143.2%	COM	071813109
—	United Parcel Service Inc	4,250	$509K	0.1%	$88.36	—	COM	013104104
MRK	Merck & Co Inc	5,967	$502K	0.1%	$30.02	+118.1%	COM	58933Y105
IWS	iShares Russell Midcap Value I	5,346	$480K	0.1%	$58.64	—	COM	464287473
—	General Electric Co.	49,055	$439K	0.1%	$23.28	—	COM	369604103
—	Herc Holdings Inc	9,037	$420K	0.1%	$51.42	—	COM	42704l104
WFC	Wells Fargo & Co	8,274	$417K	0.1%	$28.39	+40.2%	COM	949746101
—	Alphabet Inc. Class A	340	$414K	0.1%	$901.75	—	COM	38259p706
BA	Boeing Co	1,080	$411K	0.1%	$158.76	+122.0%	COM	097023105
—	DuPont de Nemours, Inc.	5,627	$401K	0.1%	$71.26	—	COM	26614n102
BCE	BCE Inc	7,918	$383K	0.1%	$22.29	+37.4%	COM	05534B760
BP	BP PLC	9,832	$374K	0.1%	$41.77	—	COM	055622104
—	Linde PLC	1,850	$358K	0.1%	$156.22	—	COM	IE00BZ12W
—	Source Capital Inc.	9,574	$350K	0.1%	$61.73	—	COM	836144105
—	Canadian Pacific Railway Ltd	1,500	$334K	0.1%	$152.67	—	COM	135923100
IEV	iShares S&P Euro 350 Index	7,296	$316K	0.1%	$40.09	—	COM	464287861
—	Berkshire Hathaway, Inc. Class	100	$312K	0.1%	$2170.00	—	COM	084990175
BIO	Bio-Rad	900	$299K	0.1%	$242.32	+34.6%	COM	090572207
USB	US Bancorp	5,000	$277K	0.1%	$25.38	+62.1%	COM	902973304
—	Dow Chemical Co	5,627	$268K	0.1%	$49.23	—	COM	260543103
BRK/B	Berkshire Hathaway	1,249	$260K	0.1%	$153.96	+33.8%	COM	084670702
MAR	Marriot International Inc	2,064	$257K	0.1%	$80.37	+57.7%	COM	571903202
—	Service Properties Trust	10,000	$256K	0.1%	$25.60	—	COM	81761l102
GILD	Gilead Sciences	3,600	$228K	0.1%	$52.48	-2.9%	COM	375558103
LOW	Lowe's Cos	2,000	$220K	0.1%	$88.06	+6.8%	COM	548661107
PFLC	Pacific Financial Corp	10,570	$119K	0.0%	$6.69	+23.5%	COM	694275108
—	Oncternal Therapeutics, Inc	13,046	$65,000	0.0%	$6.67	—	COM	68236p107
—	Oaktree Specialty Lending Corp	12,000	$62,000	0.0%	$4.92	—	COM	67401p108
DDEJF	Dundee Bancorp Inc.	58,111	$43,000	0.0%	$22.10	-96.6%	COM	264901109
—	Strata Skin Sciences, Inc	10,020	$21,000	0.0%	$2.10	—	COM	86272a206
BNDSF	Banco de Sabadell SA	10,000	$10,000	0.0%	$1.43	-51.6%	COM	E15819191
PMTYF	Playmates Toys	88,000	$6,000	0.0%	$0.14	-63.5%	COM	G7147S100
—	SunEdison, Inc.	20,408	$0	0.0%	$0.15	—	COM	86732y109
PAASF	Pan American Warrants	13,000	$0	0.0%	—	—	WT	697900132