Highmount Capital, LLC Activity Q4 2008-Q2 2015

Q2 2015

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRUST	$61,762,000	–	300,035	–	15.81%	–
MDY	New	SPDR S&P MIDCAP 400 ETF TRUST	$16,288,000	–	59,621	–	4.17%	–
AAXJ	New	ISHARES MSCI ALL COUNTRY ASIA	$15,814,000	–	251,015	–	4.05%	–
KYN	New	KAYNE ANDERSON MLP INVESTMENT	$15,339,000	–	499,810	–	3.93%	–
HEFA	New	ISHARES CURRENCY HEDGED MSCI E	$13,426,000	–	491,630	–	3.44%	–
VTI	New	VANGUARD TOTL SM ETF	$12,667,000	–	118,362	–	3.24%	–
ARCC	New	ARES CAPITAL CORP	$12,148,000	–	738,015	–	3.11%	–
REZ	New	ISHARES RESID REAL ESTATE CAPP	$11,049,000	–	197,225	–	2.83%	–
IWV	New	ISHARES RUSSELL 3000 ETF	$10,926,000	–	88,125	–	2.80%	–
AAPL	New	APPLE	$9,417,000	–	75,080	–	2.41%	–
TYG	New	TORTOISE ENERGY INFRASTRUCTURE	$9,377,000	–	254,059	–	2.40%	–
IJH	New	ISHARES S&P MIDCAP 400	$7,019,000	–	46,800	–	1.80%	–
GBDC	New	GOLUB CAPITAL BDC	$6,298,000	–	380,322	–	1.61%	–
MSFT	New	MICROSOFT CORP	$6,250,000	–	141,584	–	1.60%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS	$5,619,000	–	137,439	–	1.44%	–
UTX	New	UNITED TECHNOLOGIES	$5,603,000	–	50,513	–	1.43%	–
PFE	New	PFIZER	$5,512,000	–	164,403	–	1.41%	–
IVV	New	ISHARES S&P 500 INDEX	$5,116,000	–	24,690	–	1.31%	–
HD	New	HOME DEPOT	$4,926,000	–	44,330	–	1.26%	–
JPM	New	JPMORGAN CHASE	$4,887,000	–	72,122	–	1.25%	–
PEP	New	PEPSICO INC	$4,832,000	–	51,768	–	1.24%	–
OXY	New	OCCIDENTAL PETROLEUM	$4,479,000	–	57,597	–	1.15%	–
XOM	New	EXXON MOBIL CORP	$4,197,000	–	50,445	–	1.07%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$3,994,000	–	100,725	–	1.02%	–
YHOO	New	YAHOO! INC.	$3,938,000	–	100,220	–	1.01%	–
SLB	New	SCHLUMBERGER	$3,932,000	–	45,620	–	1.01%	–
EDIV	New	SPDR S&P EMERGING MARKETS DIV	$3,768,000	–	115,110	–	0.96%	–
FMS	New	FRESENIUS MEDICAL CARE ADR	$3,602,000	–	86,605	–	0.92%	–
ABBV	New	ABBVIE INC	$3,515,000	–	52,307	–	0.90%	–
JNJ	New	JOHNSON & JOHNSON	$3,432,000	–	35,214	–	0.88%	–
EMC	New	EMC	$3,346,000	–	126,800	–	0.86%	–
ZTS	New	ZOETIS INC.	$3,130,000	–	64,921	–	0.80%	–
C	New	CITIGROUP INC	$3,122,000	–	56,522	–	0.80%	–
VCSH	New	VANGUARD S/T CORP BOND ETF	$3,003,000	–	37,735	–	0.77%	–
PF	New	PINNACLE FOODS INC	$2,995,000	–	65,766	–	0.77%	–
GOOGL	New	GOOGLE INC CL A	$2,906,000	–	5,381	–	0.74%	–
SJM	New	THE J.M. SMUCKER COMPANY	$2,777,000	–	25,615	–	0.71%	–
ADSK	New	AUTODESK INC	$2,709,000	–	54,105	–	0.69%	–
KORS	New	MICHAEL KORS HOLDINGS LTD	$2,641,000	–	62,745	–	0.68%	–
MMM	New	3M COMPANY	$2,568,000	–	16,645	–	0.66%	–
A	New	AGILENT TECHNOLOGIES INC.	$2,407,000	–	62,380	–	0.62%	–
BLW	New	BLACKROCK LIMITED DURATION INC	$2,384,000	–	157,345	–	0.61%	–
ADP	New	AUTOMATIC DATA PROCESSING	$2,207,000	–	27,507	–	0.56%	–
EMR	New	EMERSON ELECTRIC CO	$2,196,000	–	39,610	–	0.56%	–
BKLN	New	PROSHARES TR.SENIOR LOAN PTF E	$2,186,000	–	91,850	–	0.56%	–
CBSH	New	COMMERCE BANCSHARES INC.	$2,147,000	–	45,900	–	0.55%	–
BMY	New	BRISTOL-MYERS SQUIBB CORP	$2,115,000	–	31,779	–	0.54%	–
AIG	New	AMERICAN INTERNATIONAL GROUP I	$2,086,000	–	33,740	–	0.53%	–
DD	New	DU PONT ( E. I. ) DE NEMOURS &	$1,963,000	–	30,695	–	0.50%	–
KMB	New	KIMBERLY-CLARK	$1,958,000	–	18,483	–	0.50%	–
MON	New	MONSANTO	$1,916,000	–	17,978	–	0.49%	–
AMZN	New	AMAZON.COM	$1,890,000	–	4,354	–	0.48%	–
GLW	New	CORNING INC	$1,703,000	–	86,310	–	0.44%	–
ORCL	New	ORACLE	$1,652,000	–	40,989	–	0.42%	–
WM	New	WASTE MANAGEMENT INC.	$1,654,000	–	35,695	–	0.42%	–
PG	New	PROCTER & GAMBLE CO	$1,615,000	–	20,641	–	0.41%	–
TRV	New	THE TRAVELERS COMPANIES INC	$1,607,000	–	16,625	–	0.41%	–
VT	New	VANGUARD TOTAL WORLD STOCK IND	$1,595,000	–	25,920	–	0.41%	–
ACC	New	AMERICAN CAMPUS COMMUNITIES	$1,561,000	–	41,425	–	0.40%	–
UPS	New	UNITED PARCEL SVC INC CL B	$1,554,000	–	16,040	–	0.40%	–
IJR	New	ISHARES S&P SMALLCAP 600 INDEX	$1,517,000	–	12,871	–	0.39%	–
ESS	New	ESSEX PROPERTY TRUST	$1,498,000	–	7,050	–	0.38%	–
LMT	New	LOCKHEED MARTIN CORPORATION	$1,451,000	–	7,806	–	0.37%	–
HON	New	HONEYWELL INTL	$1,441,000	–	14,127	–	0.37%	–
APD	New	AIR PRODUCTS & CHEMICALS INC	$1,405,000	–	10,265	–	0.36%	–
CAT	New	CATERPILLAR INC	$1,372,000	–	16,179	–	0.35%	–
COP	New	CONOCO PHILLIPS	$1,364,000	–	22,210	–	0.35%	–
POT	New	POTASH CORPORATION OF SASKATCH	$1,328,000	–	42,885	–	0.34%	–
GE	New	GENERAL ELECTRIC CO	$1,285,000	–	48,356	–	0.33%	–
CMD	New	CANTEL MEDICAL CORP	$1,268,000	–	23,632	–	0.32%	–
IWM	New	ISHARES RUSSELL 2000 ETF	$1,244,000	–	9,960	–	0.32%	–
AMGN	New	AMGEN	$1,194,000	–	7,780	–	0.31%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$1,175,000	–	7,221	–	0.30%	–
LVS	New	LAS VEGAS SANDS	$1,163,000	–	22,115	–	0.30%	–
WYNN	New	WYNN RESORTS LTD	$1,115,000	–	11,305	–	0.28%	–
CELG	New	CELGENE CORP	$991,000	–	8,565	–	0.25%	–
PHO	New	POWERSHARES WATER RESOURCES	$942,000	–	37,750	–	0.24%	–
KO	New	COCA-COLA	$893,000	–	22,751	–	0.23%	–
MOO	New	MARKET VECTORS - AGRIBUSINESS	$886,000	–	16,075	–	0.23%	–
TCAP	New	TRIANGLE CAPITAL	$831,000	–	35,440	–	0.21%	–
GS	New	GOLDMAN SACHS GROUP INC	$787,000	–	3,771	–	0.20%	–
CSWC	New	CAPITAL SOUTHWEST CORP	$731,000	–	14,648	–	0.19%	–
TGT	New	TARGET	$689,000	–	8,445	–	0.18%	–
QCOM	New	QUALCOMM	$666,000	–	10,640	–	0.17%	–
PZD	New	POWERSHARES CLEANTECH PORTFOLI	$635,000	–	20,850	–	0.16%	–
IVZ	New	INVESCO LTD	$584,000	–	15,585	–	0.15%	–
BOND	New	PIMCO TOTAL RETURN ETF	$573,000	–	5,355	–	0.15%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$553,000	–	6,550	–	0.14%	–
ITW	New	ILLINOIS TOOL WORKS INC.	$555,000	–	6,045	–	0.14%	–
CVS	New	CVS CAREMARK CORP	$551,000	–	5,250	–	0.14%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$541,000	–	6,086	–	0.14%	–
MRK	New	MERCK & CO	$537,000	–	9,432	–	0.14%	–
IWO	New	ISHARES RUSSELL 2000 GROWTH ET	$533,000	–	3,450	–	0.14%	–
XBKS	New	XENITH CORP	$523,000	–	87,000	–	0.13%	–
APC	New	ANADARKO PETROLEUM	$514,000	–	6,590	–	0.13%	–
T	New	AT&T INC	$517,000	–	14,604	–	0.13%	–
GILD	New	GILEAD SCIENCES INC.	$492,000	–	4,200	–	0.13%	–
VZ	New	VERIZON COMMUNICATIONS	$478,000	–	10,262	–	0.12%	–
CPT	New	CAMDEN PROPERTY TRUST	$468,000	–	6,298	–	0.12%	–
CMCSK	New	COMCAST CORP NEW	$453,000	–	7,550	–	0.12%	–
TYL	New	TYLER TECHNOLOGIES INC COM	$423,000	–	3,269	–	0.11%	–
BRKB	New	BERKSHIRE HATHAWAY INC.CL B	$420,000	–	3,087	–	0.11%	–
WMT	New	WAL MART STORES	$398,000	–	5,615	–	0.10%	–
PBD	New	POWERSHARES GLOBAL CLEAN ENERG	$385,000	–	30,300	–	0.10%	–
DEM	New	WISDOMTREE EMERGING MARKETS EQ	$386,000	–	8,883	–	0.10%	–
RDSA	New	ROYAL DUTCH SHELL PLC SPONS ADadr	$368,000	–	6,456	–	0.09%	–
CSCO	New	CISCO SYSTEMS	$362,000	–	13,187	–	0.09%	–
DIS	New	WALT DISNEY COMPANY	$362,000	–	3,173	–	0.09%	–
DVY	New	ISHARES SELECT DIVIDEND ETF	$327,000	–	4,350	–	0.08%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$327,000	–	2,997	–	0.08%	–
CL	New	COLGATE PALMOLIVE CO	$314,000	–	4,805	–	0.08%	–
CVX	New	CHEVRON CORPORATION	$292,000	–	3,023	–	0.08%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$291,000	–	3,039	–	0.07%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION	$291,000	–	3,700	–	0.07%	–
R297	New	PROSHARES ULTRASHORT 20+ YR TR	$290,000	–	5,816	–	0.07%	–
CROP	New	INDEXIQ GLOBAL AGRIBUSINESS SM	$282,000	–	10,000	–	0.07%	–
CEF	New	CENTRAL FUND CANADA	$266,000	–	22,800	–	0.07%	–
PBW	New	POWERSHARES WILDERHILL CLEAN E	$260,000	–	48,000	–	0.07%	–
LQD	New	ISHARES IBOXX INV GR CORP BOND	$255,000	–	2,200	–	0.06%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$242,000	–	5,889	–	0.06%	–
MCD	New	MC DONALDS CORP	$239,000	–	2,518	–	0.06%	–
APA	New	APACHE CORPORATION	$229,000	–	3,973	–	0.06%	–
XYL	New	XYLEM INC	$213,000	–	5,737	–	0.06%	–
HRS	New	HARRIS CORP DEL	$210,000	–	2,733	–	0.05%	–
PII	New	POLARIS INDUSTRIES INC.	$207,000	–	1,400	–	0.05%	–
ROP	New	ROPER INDS INC	$207,000	–	1,200	–	0.05%	–
PH	New	PARKER HANNIFIN CORP	$204,000	–	1,755	–	0.05%	–
WFC	New	WELLS FARGO & CO	$205,000	–	3,649	–	0.05%	–

Q4 2014

			Value		Shares		↓ Weighting
BFCF	Exit	BFC FINANCIAL CORP	$0	–	-50,088	–	-0.05%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-1,755	–	-0.05%	–
XYL	Exit	XYLEM INC	$0	–	-5,737	–	-0.05%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-2,345	–	-0.05%	–
PII	Exit	POLARIS INDUSTRIES INC.	$0	–	-1,400	–	-0.05%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,707	–	-0.05%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-1,697	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL INC	$0	–	-6,314	–	-0.05%	–
MCD	Exit	MC DONALDS CORP	$0	–	-2,293	–	-0.05%	–
CLR	Exit	CONTINENTAL RESOURCES	$0	–	-3,300	–	-0.06%	–
FLS	Exit	FLOWSERVE CP	$0	–	-3,150	–	-0.06%	–
MA	Exit	MASTERCARD	$0	–	-3,450	–	-0.06%	–
CROP	Exit	INDEXIQ GLOBAL AGRIBUSINESS SM	$0	–	-10,000	–	-0.06%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-3,039	–	-0.06%	–
LQD	Exit	ISHARES IBOXX INV GR CORP BOND	$0	–	-2,200	–	-0.06%	–
PHB	Exit	POWERSHARES ETF II-FUND.HY COR	$0	–	-14,025	–	-0.07%	–
HCSG	Exit	HEALTHCARE SERVICES	$0	–	-9,515	–	-0.07%	–
SRCL	Exit	STERICYCLE INC	$0	–	-2,395	–	-0.07%	–
TYL	Exit	TYLER TECHNOLOGIES INC COM	$0	–	-3,269	–	-0.07%	–
DIS	Exit	WALT DISNEY COMPANY	$0	–	-3,283	–	-0.07%	–
DSI	Exit	ISHARES KLD 400 SOCIAL INDEX	$0	–	-4,000	–	-0.07%	–
PBW	Exit	POWERSHARES WILDERHILL CLEAN E	$0	–	-48,000	–	-0.08%	–
ZBH	Exit	ZIMMER HOLDINGS INC	$0	–	-3,052	–	-0.08%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-4,805	–	-0.08%	–
ECL	Exit	ECOLAB INC	$0	–	-2,750	–	-0.08%	–
R297	Exit	PROSHARES ULTRASHORT 20+ YR TR	$0	–	-5,816	–	-0.08%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-13,133	–	-0.08%	–
ABT	Exit	ABBOTT LABS	$0	–	-9,202	–	-0.10%	–
DVY	Exit	ISHARES SELECT DIVIDEND ETF	$0	–	-5,250	–	-0.10%	–
WAG	Exit	WALGREEN	$0	–	-6,550	–	-0.10%	–
PBD	Exit	POWERSHARES GLOBAL CLEAN ENERG	$0	–	-30,300	–	-0.10%	–
CVX	Exit	CHEVRON CORPORATION	$0	–	-3,313	–	-0.10%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-3,560	–	-0.10%	–
CMCSK	Exit	COMCAST CORP NEW	$0	–	-7,600	–	-0.10%	–
SBUX	Exit	STARBUCKS CORP.	$0	–	-5,592	–	-0.10%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-8,151	–	-0.10%	–
CVS	Exit	CVS CAREMARK CORP	$0	–	-5,335	–	-0.11%	–
GILD	Exit	GILEAD SCIENCES INC.	$0	–	-3,980	–	-0.11%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC.CL B	$0	–	-3,120	–	-0.11%	–
WMT	Exit	WAL MART STORES	$0	–	-5,690	–	-0.11%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION	$0	–	-5,820	–	-0.11%	–
CEF	Exit	CENTRAL FUND CANADA	$0	–	-36,300	–	-0.11%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC SPONS ADadr	$0	–	-6,456	–	-0.12%	–
CHD	Exit	CHURCH & DWIGHT CO INC.	$0	–	-7,205	–	-0.13%	–
ITW	Exit	ILLINOIS TOOL WORKS INC.	$0	–	-6,045	–	-0.13%	–
CSWC	Exit	CAPITAL SOUTHWEST CORP	$0	–	-14,648	–	-0.13%	–
ABEV	Exit	AMBEV ADRadr	$0	–	-80,000	–	-0.13%	–
ENIA	Exit	ENERSIS S.A. SPONS ADRadr	$0	–	-34,000	–	-0.13%	–
APA	Exit	APACHE CORPORATION	$0	–	-5,828	–	-0.14%	–
EIDO	Exit	ISHARES MSCI INDONESIA INVSTBL	$0	–	-20,000	–	-0.14%	–
XBKS	Exit	XENITH CORP	$0	–	-87,000	–	-0.14%	–
MRK	Exit	MERCK & CO	$0	–	-9,325	–	-0.14%	–
EPHE	Exit	ISHARES MSCI PHILIPPINES INVST	$0	–	-15,000	–	-0.14%	–
PZD	Exit	POWERSHARES CLEANTECH PORTFOLI	$0	–	-20,850	–	-0.15%	–
T	Exit	AT&T INC	$0	–	-18,424	–	-0.16%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-9,256	–	-0.16%	–
APC	Exit	ANADARKO PETROLEUM	$0	–	-6,590	–	-0.17%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-3,766	–	-0.17%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-13,839	–	-0.17%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-23,902	–	-0.20%	–
MOO	Exit	MARKET VECTORS - AGRIBUSINESS	$0	–	-16,075	–	-0.21%	–
CELG	Exit	CELGENE CORP	$0	–	-9,400	–	-0.22%	–
PHO	Exit	POWERSHARES WATER RESOURCES	$0	–	-38,600	–	-0.24%	–
KO	Exit	COCA-COLA	$0	–	-23,441	–	-0.25%	–
AMGN	Exit	AMGEN	$0	–	-7,880	–	-0.28%	–
IWM	Exit	ISHARES RUSSELL 2000 ETF	$0	–	-10,490	–	-0.29%	–
HON	Exit	HONEYWELL INTL	$0	–	-12,672	–	-0.29%	–
TCAP	Exit	TRIANGLE CAPITAL	$0	–	-47,770	–	-0.30%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-47,785	–	-0.30%	–
CAT	Exit	CATERPILLAR INC	$0	–	-12,664	–	-0.31%	–
FLR	Exit	FLUOR	$0	–	-18,800	–	-0.31%	–
POT	Exit	POTASH CORPORATION OF SASKATCH	$0	–	-36,495	–	-0.31%	–
IJR	Exit	ISHARES S&P SMALLCAP 600 INDEX	$0	–	-12,296	–	-0.32%	–
APD	Exit	AIR PRODUCTS & CHEMICALS INC	$0	–	-10,310	–	-0.34%	–
UPS	Exit	UNITED PARCEL SVC INC CL B	$0	–	-14,415	–	-0.35%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-7,501	–	-0.36%	–
COP	Exit	CONOCO PHILLIPS	$0	–	-18,680	–	-0.36%	–
ESS	Exit	ESSEX PROPERTY TRUST	$0	–	-8,140	–	-0.36%	–
BKLN	Exit	PROSHARES TR.SENIOR LOAN PTF E	$0	–	-59,975	–	-0.36%	–
TRV	Exit	THE TRAVELERS COMPANIES INC	$0	–	-16,120	–	-0.38%	–
LMT	Exit	LOCKHEED MARTIN CORPORATION	$0	–	-8,336	–	-0.38%	–
ORCL	Exit	ORACLE	$0	–	-42,015	–	-0.40%	–
GLW	Exit	CORNING INC	$0	–	-84,365	–	-0.41%	–
WM	Exit	WASTE MANAGEMENT INC.	$0	–	-34,535	–	-0.41%	–
ACC	Exit	AMERICAN CAMPUS COMMUNITIES	$0	–	-46,320	–	-0.42%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CORP	$0	–	-33,143	–	-0.42%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-21,031	–	-0.44%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP I	$0	–	-33,460	–	-0.45%	–
CPT	Exit	CAMDEN PROPERTY TRUST	$0	–	-27,715	–	-0.47%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-18,513	–	-0.50%	–
CBSH	Exit	COMMERCE BANCSHARES INC.	$0	–	-45,063	–	-0.50%	–
TEX	Exit	TEREX CORPORATION	$0	–	-66,867	–	-0.53%	–
DD	Exit	DU PONT ( E. I. ) DE NEMOURS &	$0	–	-29,940	–	-0.54%	–
PF	Exit	PINNACLE FOODS INC	$0	–	-67,940	–	-0.55%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-35,830	–	-0.56%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-27,107	–	-0.56%	–
IVZ	Exit	INVESCO LTD	$0	–	-60,292	–	-0.59%	–
QCOM	Exit	QUALCOMM	$0	–	-32,507	–	-0.61%	–
MMM	Exit	3M COMPANY	$0	–	-17,805	–	-0.63%	–
VT	Exit	VANGUARD TOTAL WORLD STOCK IND	$0	–	-47,335	–	-0.71%	–
C	Exit	CITIGROUP INC	$0	–	-55,523	–	-0.72%	–
ADSK	Exit	AUTODESK INC	$0	–	-52,947	–	-0.73%	–
FMS	Exit	FRESENIUS MEDICAL CARE ADR	$0	–	-85,460	–	-0.74%	–
YHOO	Exit	YAHOO! INC.	$0	–	-79,089	–	-0.80%	–
WYND	Exit	WYNDHAM WORLDWIDE CORP	$0	–	-40,033	–	-0.81%	–
TGT	Exit	TARGET	$0	–	-54,000	–	-0.84%	–
A	Exit	AGILENT TECHNOLOGIES INC.	$0	–	-60,543	–	-0.86%	–
EMC	Exit	EMC	$0	–	-121,886	–	-0.89%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-34,258	–	-0.91%	–
ZTS	Exit	ZOETIS INC.	$0	–	-101,347	–	-0.93%	–
IVV	Exit	ISHARES S&P 500 INDEX	$0	–	-19,125	–	-0.94%	–
IJH	Exit	ISHARES S&P MIDCAP 400	$0	–	-29,100	–	-0.99%	–
MON	Exit	MONSANTO	$0	–	-36,047	–	-1.01%	–
VCSH	Exit	VANGUARD S/T CORP BOND ETF	$0	–	-52,227	–	-1.04%	–
BLW	Exit	BLACKROCK LIMITED DURATION INC	$0	–	-279,155	–	-1.13%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-50,431	–	-1.18%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS	$0	–	-113,859	–	-1.18%	–
OXY	Exit	OCCIDENTAL PETROLEUM	$0	–	-50,089	–	-1.20%	–
PEP	Exit	PEPSICO INC	$0	–	-51,780	–	-1.20%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-46,062	–	-1.21%	–
PFE	Exit	PFIZER	$0	–	-164,609	–	-1.21%	–
HD	Exit	HOME DEPOT	$0	–	-53,253	–	-1.22%	–
DEM	Exit	WISDOMTREE EMERGING MARKETS EQ	$0	–	-103,380	–	-1.23%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-92,575	–	-1.39%	–
SLB	Exit	SCHLUMBERGER	$0	–	-55,248	–	-1.40%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-142,210	–	-1.41%	–
GBDC	Exit	GOLUB CAPITAL BDC	$0	–	-375,407	–	-1.49%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-138,770	–	-1.60%	–
AAPL	Exit	APPLE	$0	–	-87,357	–	-2.20%	–
AAXJ	Exit	ISHARES MSCI ALL COUNTRY ASIA	$0	–	-155,158	–	-2.37%	–
IWV	Exit	ISHARES RUSSELL 3000 ETF	$0	–	-83,943	–	-2.44%	–
VTI	Exit	VANGUARD TOTL SM ETF	$0	–	-116,158	–	-2.93%	–
TYG	Exit	TORTOISE ENERGY INFRASTRUCTURE	$0	–	-255,991	–	-3.07%	–
REZ	Exit	ISHARES RESID REAL ESTATE CAPP	$0	–	-262,652	–	-3.35%	–
MDY	Exit	SPDR S&P MIDCAP 400 ETF TRUST	$0	–	-54,440	–	-3.38%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-859,310	–	-3.46%	–
IWO	Exit	ISHARES RUSSELL 2000 GROWTH ET	$0	–	-115,175	–	-3.72%	–
HEDJ	Exit	WISDOMTREE EUROPE HEDGED EQUIT	$0	–	-305,770	–	-4.41%	–
KYN	Exit	KAYNE ANDERSON MLP INVESTMENT	$0	–	-500,201	–	-5.10%	–
SPY	Exit	SPDR S&P 500 ETF TRUST	$0	–	-225,880	–	-11.10%	–

Q3 2014

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRUST	$44,502,000	+3.7%	225,880	+3.0%	11.10%	+7.6%
KYN	Buy	KAYNE ANDERSON MLP INVESTMENT	$20,428,000	+4.1%	500,201	+0.4%	5.10%	+8.0%
HEDJ	Sell	WISDOMTREE EUROPE HEDGED EQUIT	$17,667,000	-1.4%	305,770	-0.3%	4.41%	+2.3%
IWO	Sell	ISHARES RUSSELL 2000 GROWTH ET	$14,937,000	-9.7%	115,175	-3.6%	3.72%	-6.3%
ARCC	Sell	ARES CAPITAL CORP	$13,886,000	-11.4%	859,310	-2.1%	3.46%	-8.0%
MDY	Buy	SPDR S&P MIDCAP 400 ETF TRUST	$13,572,000	-1.6%	54,440	+2.8%	3.38%	+2.1%
REZ	Buy	ISHARES RESID REAL ESTATE CAPP	$13,429,000	-4.0%	262,652	+0.1%	3.35%	-0.4%
TYG	Sell	TORTOISE ENERGY INFRASTRUCTURE	$12,313,000	-3.8%	255,991	-1.1%	3.07%	-0.2%
IWV	Sell	ISHARES RUSSELL 3000 ETF	$9,803,000	-7.6%	83,943	-6.9%	2.44%	-4.1%
AAXJ	Sell	ISHARES MSCI ALL COUNTRY ASIA	$9,514,000	-4.5%	155,158	-2.4%	2.37%	-0.9%
AAPL	Sell	APPLE	$8,801,000	-8.3%	87,357	-15.4%	2.20%	-4.8%
MSFT	Sell	MICROSOFT CORP	$6,433,000	+8.5%	138,770	-2.4%	1.60%	+12.6%
GBDC	Buy	GOLUB CAPITAL BDC	$5,987,000	-5.6%	375,407	+4.7%	1.49%	-2.1%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKET	$5,652,000	+3.2%	142,210	+10.6%	1.41%	+7.1%
SLB	Sell	SCHLUMBERGER	$5,618,000	-16.2%	55,248	-2.8%	1.40%	-13.0%
JPM	Sell	JPMORGAN CHASE	$5,576,000	+2.0%	92,575	-2.4%	1.39%	+5.9%
DEM	Buy	WISDOMTREE EMERGING MARKETS EQ	$4,939,000	-6.1%	103,380	+1.9%	1.23%	-2.5%
HD	Sell	HOME DEPOT	$4,885,000	+10.6%	53,253	-2.3%	1.22%	+14.8%
PFE	Sell	PFIZER	$4,867,000	-2.6%	164,609	-2.2%	1.21%	+1.1%
UTX	Sell	UNITED TECHNOLOGIES	$4,864,000	-10.0%	46,062	-1.6%	1.21%	-6.6%
PEP	Sell	PEPSICO INC	$4,820,000	+3.7%	51,780	-0.5%	1.20%	+7.6%
OXY	Sell	OCCIDENTAL PETROLEUM	$4,816,000	-6.6%	50,089	-0.3%	1.20%	-3.1%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS	$4,749,000	-0.2%	113,859	+3.2%	1.18%	+3.6%
XOM	Sell	EXXON MOBIL CORP	$4,743,000	-7.7%	50,431	-1.2%	1.18%	-4.2%
BLW	Buy	BLACKROCK LIMITED DURATION INC	$4,514,000	-3.5%	279,155	+3.1%	1.13%	+0.1%
VCSH	Sell	VANGUARD S/T CORP BOND ETF	$4,171,000	-2.5%	52,227	-1.9%	1.04%	+1.2%
MON	Sell	MONSANTO	$4,055,000	-10.7%	36,047	-1.0%	1.01%	-7.3%
IJH	Buy	ISHARES S&P MIDCAP 400	$3,979,000	-2.4%	29,100	+2.2%	0.99%	+1.3%
IVV	Buy	ISHARES S&P 500 INDEX	$3,791,000	+11.1%	19,125	+10.4%	0.94%	+15.2%
ZTS	Sell	ZOETIS INC.	$3,745,000	+11.2%	101,347	-2.9%	0.93%	+15.5%
JNJ	Sell	JOHNSON & JOHNSON	$3,651,000	+1.8%	34,258	-0.1%	0.91%	+5.7%
EMC	Sell	EMC	$3,566,000	+8.6%	121,886	-2.3%	0.89%	+12.7%
A	Sell	AGILENT TECHNOLOGIES INC.	$3,449,000	-3.1%	60,543	-2.3%	0.86%	+0.6%
TGT	Sell	TARGET	$3,384,000	+4.5%	54,000	-3.4%	0.84%	+8.5%
WYND	Sell	WYNDHAM WORLDWIDE CORP	$3,253,000	+3.6%	40,033	-3.5%	0.81%	+7.4%
YHOO	Sell	YAHOO! INC.	$3,223,000	+13.4%	79,089	-2.3%	0.80%	+17.7%
FMS	Buy	FRESENIUS MEDICAL CARE ADR	$2,965,000	+82.2%	85,460	+75.9%	0.74%	+89.0%
ADSK	Sell	AUTODESK INC	$2,917,000	-6.5%	52,947	-4.3%	0.73%	-2.9%
C	Sell	CITIGROUP INC	$2,877,000	+6.7%	55,523	-3.0%	0.72%	+10.8%
VT	Sell	VANGUARD TOTAL WORLD STOCK IND	$2,858,000	-68.6%	47,335	-67.6%	0.71%	-67.4%
MMM	Sell	3M COMPANY	$2,522,000	-1.2%	17,805	-0.1%	0.63%	+2.6%
QCOM	Sell	QUALCOMM	$2,430,000	-6.4%	32,507	-0.8%	0.61%	-2.9%
IVZ	Sell	INVESCO LTD	$2,380,000	+2.9%	60,292	-1.6%	0.59%	+6.8%
ADP	Buy	AUTOMATIC DATA PROCESSING	$2,252,000	+5.3%	27,107	+0.4%	0.56%	+9.3%
EMR	Buy	EMERSON ELECTRIC CO	$2,242,000	+3.1%	35,830	+9.3%	0.56%	+7.1%
PF	Sell	PINNACLE FOODS INC	$2,218,000	-1.8%	67,940	-1.0%	0.55%	+1.8%
DD	Buy	DU PONT ( E. I. ) DE NEMOURS &	$2,148,000	+11.0%	29,940	+1.2%	0.54%	+15.3%
TEX	Sell	TEREX CORPORATION	$2,124,000	-25.4%	66,867	-3.5%	0.53%	-22.6%
KMB	Buy	KIMBERLY-CLARK	$1,991,000	-2.6%	18,513	+0.7%	0.50%	+1.2%
CPT	Buy	CAMDEN PROPERTY TRUST	$1,899,000	-1.0%	27,715	+2.8%	0.47%	+2.8%
AIG	Sell	AMERICAN INTERNATIONAL GROUP I	$1,807,000	-3.5%	33,460	-2.5%	0.45%	+0.2%
BMY	Buy	BRISTOL-MYERS SQUIBB CORP	$1,696,000	+10.6%	33,143	+4.8%	0.42%	+14.6%
ACC	Buy	AMERICAN CAMPUS COMMUNITIES	$1,688,000	-0.6%	46,320	+4.3%	0.42%	+3.2%
WM	Buy	WASTE MANAGEMENT INC.	$1,641,000	+7.0%	34,535	+0.7%	0.41%	+11.1%
GLW	Buy	CORNING INC	$1,631,000	-11.6%	84,365	+0.4%	0.41%	-8.1%
ORCL	Sell	ORACLE	$1,608,000	-6.3%	42,015	-0.8%	0.40%	-2.9%
LMT	Buy	LOCKHEED MARTIN CORPORATION	$1,523,000	+15.0%	8,336	+1.2%	0.38%	+19.5%
TRV	Buy	THE TRAVELERS COMPANIES INC	$1,514,000	+0.6%	16,120	+0.8%	0.38%	+4.4%
ESS	Buy	ESSEX PROPERTY TRUST	$1,455,000	-1.3%	8,140	+2.1%	0.36%	+2.5%
COP	Sell	CONOCO PHILLIPS	$1,429,000	-13.2%	18,680	-2.8%	0.36%	-10.1%
IBM	Sell	INTERNATIONAL BUSINESS MACHINE	$1,423,000	-0.6%	7,501	-5.0%	0.36%	+3.2%
UPS	Buy	UNITED PARCEL SVC INC CL B	$1,416,000	-3.2%	14,415	+1.1%	0.35%	+0.3%
APD	Buy	AIR PRODUCTS & CHEMICALS INC	$1,342,000	+1.9%	10,310	+0.7%	0.34%	+6.0%
POT	Buy	POTASH CORPORATION OF SASKATCH	$1,261,000	+5.0%	36,495	+15.4%	0.31%	+8.7%
CAT	Buy	CATERPILLAR INC	$1,254,000	+0.9%	12,664	+10.7%	0.31%	+4.7%
FLR	Sell	FLUOR	$1,255,000	-14.5%	18,800	-1.5%	0.31%	-11.3%
TCAP	Buy	TRIANGLE CAPITAL	$1,209,000	-10.4%	47,770	+0.3%	0.30%	-6.8%
HON	Buy	HONEYWELL INTL	$1,180,000	+1.2%	12,672	+1.0%	0.29%	+5.0%
KO	Sell	COCA-COLA	$1,000,000	-1.1%	23,441	-1.8%	0.25%	+2.5%
VZ	Sell	VERIZON COMMUNICATIONS	$691,000	-2.0%	13,839	-4.1%	0.17%	+1.8%
GS	Sell	GOLDMAN SACHS GROUP INC	$691,000	+8.0%	3,766	-1.4%	0.17%	+11.7%
T	Sell	AT&T INC	$649,000	-16.1%	18,424	-15.9%	0.16%	-12.9%
ABEV	New	AMBEV ADRadr	$524,000	–	80,000	–	0.13%	–
CHD	Sell	CHURCH & DWIGHT CO INC.	$505,000	-0.8%	7,205	-1.2%	0.13%	+3.3%
RDSA	Sell	ROYAL DUTCH SHELL PLC SPONS ADadr	$491,000	-12.6%	6,456	-5.3%	0.12%	-9.6%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION	$447,000	-5.7%	5,820	-4.2%	0.11%	-2.6%
BRKB	Sell	BERKSHIRE HATHAWAY INC.CL B	$431,000	+4.6%	3,120	-4.1%	0.11%	+8.1%
WFC	Sell	WELLS FARGO & CO	$423,000	-1.6%	8,151	-0.4%	0.10%	+1.9%
CVX	Sell	CHEVRON CORPORATION	$395,000	-9.0%	3,313	-0.3%	0.10%	-4.8%
WAG	Sell	WALGREEN	$388,000	-20.7%	6,550	-0.8%	0.10%	-17.8%
ABT	Sell	ABBOTT LABS	$382,000	+0.3%	9,202	-1.4%	0.10%	+3.3%
ZBH	Buy	ZIMMER HOLDINGS INC	$307,000	+29.0%	3,052	+33.2%	0.08%	+35.1%
DIS	Sell	WALT DISNEY COMPANY	$292,000	+0.7%	3,283	-3.0%	0.07%	+4.3%
PHB	Sell	POWERSHARES ETF II-FUND.HY COR	$267,000	-48.7%	14,025	-47.1%	0.07%	-46.4%
CROP	Sell	INDEXIQ GLOBAL AGRIBUSINESS SM	$257,000	-23.1%	10,000	-17.9%	0.06%	-20.0%
MA	Sell	MASTERCARD	$255,000	-2.3%	3,450	-2.8%	0.06%	+1.6%
CLR	Buy	CONTINENTAL RESOURCES	$219,000	-16.1%	3,300	+100.0%	0.06%	-12.7%
MCD	New	MC DONALDS CORP	$217,000	–	2,293	–	0.05%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$216,000	–	6,314	–	0.05%	–
COST	New	COSTCO WHOLESALE	$213,000	–	1,697	–	0.05%	–
PII	New	POLARIS INDUSTRIES INC.	$210,000	–	1,400	–	0.05%	–
AXP	Sell	AMERICAN EXPRESS	$205,000	-58.6%	2,345	-55.1%	0.05%	-57.1%
PRGO	Exit	PERRIGO CO PLC	$0	–	-1,460	–	-0.05%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-1,770	–	-0.05%	–
HRS	Exit	HARRIS CORP DEL	$0	–	-3,050	–	-0.06%	–
ETAK	Exit	ELEPHANT TALK COMMUNICATIONS	$0	–	-578,922	–	-0.13%	–
ABV	Exit	AMBEV ADRadr	$0	–	-80,000	–	-0.14%	–
RSG	Exit	REPUBLIC SERVICES INC	$0	–	-48,655	–	-0.44%	–

Q2 2014

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRUST	$42,926,000	–	219,325	–	10.32%	–
KYN	New	KAYNE ANDERSON MLP INVESTMENT	$19,625,000	–	497,983	–	4.72%	–
HEDJ	New	WISDOMTREE EUROPE HEDGED EQUIT	$17,920,000	–	306,685	–	4.31%	–
IWO	New	ISHARES RUSSELL 2000 GROWTH ET	$16,537,000	–	119,472	–	3.97%	–
ARCC	New	ARES CAPITAL CORP	$15,674,000	–	877,628	–	3.77%	–
REZ	New	ISHARES RESID REAL ESTATE CAPP	$13,988,000	–	262,299	–	3.36%	–
MDY	New	SPDR S&P MIDCAP 400 ETF TRUST	$13,793,000	–	52,935	–	3.31%	–
TYG	New	TORTOISE ENERGY INFRASTRUCTURE	$12,804,000	–	258,939	–	3.08%	–
VTI	New	VANGUARD TOTL SM ETF	$11,821,000	–	116,158	–	2.84%	–
IWV	New	ISHARES RUSSELL 3000 ETF	$10,614,000	–	90,150	–	2.55%	–
AAXJ	New	ISHARES MSCI ALL COUNTRY ASIA	$9,962,000	–	158,908	–	2.39%	–
AAPL	New	APPLE	$9,598,000	–	103,283	–	2.31%	–
VT	New	VANGUARD TOTAL WORLD STOCK IND	$9,097,000	–	146,183	–	2.19%	–
SLB	New	SCHLUMBERGER	$6,703,000	–	56,832	–	1.61%	–
GBDC	New	GOLUB CAPITAL BDC	$6,345,000	–	358,510	–	1.52%	–
MSFT	New	MICROSOFT CORP	$5,929,000	–	142,193	–	1.42%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$5,476,000	–	128,580	–	1.32%	–
JPM	New	JPMORGAN CHASE	$5,468,000	–	94,890	–	1.31%	–
UTX	New	UNITED TECHNOLOGIES	$5,404,000	–	46,804	–	1.30%	–
DEM	New	WISDOMTREE EMERGING MARKETS EQ	$5,261,000	–	101,490	–	1.26%	–
OXY	New	OCCIDENTAL PETROLEUM	$5,155,000	–	50,229	–	1.24%	–
XOM	New	EXXON MOBIL CORP	$5,138,000	–	51,040	–	1.24%	–
PFE	New	PFIZER	$4,997,000	–	168,367	–	1.20%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS	$4,758,000	–	110,321	–	1.14%	–
BLW	New	BLACKROCK LIMITED DURATION INC	$4,680,000	–	270,700	–	1.12%	–
PEP	New	PEPSICO INC	$4,649,000	–	52,048	–	1.12%	–
MON	New	MONSANTO	$4,542,000	–	36,414	–	1.09%	–
HD	New	HOME DEPOT	$4,415,000	–	54,534	–	1.06%	–
VCSH	New	VANGUARD S/T CORP BOND ETF	$4,279,000	–	53,240	–	1.03%	–
IJH	New	ISHARES S&P MIDCAP 400	$4,076,000	–	28,487	–	0.98%	–
JNJ	New	JOHNSON & JOHNSON	$3,587,000	–	34,288	–	0.86%	–
A	New	AGILENT TECHNOLOGIES INC.	$3,560,000	–	61,980	–	0.86%	–
IVV	New	ISHARES S&P 500 INDEX	$3,413,000	–	17,325	–	0.82%	–
ZTS	New	ZOETIS INC.	$3,368,000	–	104,359	–	0.81%	–
EMC	New	EMC	$3,285,000	–	124,710	–	0.79%	–
TGT	New	TARGET	$3,239,000	–	55,898	–	0.78%	–
WYND	New	WYNDHAM WORLDWIDE CORP	$3,140,000	–	41,475	–	0.76%	–
ADSK	New	AUTODESK INC	$3,119,000	–	55,320	–	0.75%	–
TEX	New	TEREX CORPORATION	$2,849,000	–	69,312	–	0.68%	–
YHOO	New	YAHOO! INC.	$2,843,000	–	80,925	–	0.68%	–
C	New	CITIGROUP INC	$2,696,000	–	57,250	–	0.65%	–
QCOM	New	QUALCOMM	$2,595,000	–	32,763	–	0.62%	–
MMM	New	3M COMPANY	$2,552,000	–	17,820	–	0.61%	–
IVZ	New	INVESCO LTD	$2,312,000	–	61,245	–	0.56%	–
PF	New	PINNACLE FOODS INC	$2,258,000	–	68,645	–	0.54%	–
EMR	New	EMERSON ELECTRIC CO	$2,174,000	–	32,770	–	0.52%	–
ADP	New	AUTOMATIC DATA PROCESSING	$2,139,000	–	26,992	–	0.51%	–
CBSH	New	COMMERCE BANCSHARES INC.	$2,095,000	–	45,063	–	0.50%	–
KMB	New	KIMBERLY-CLARK	$2,044,000	–	18,383	–	0.49%	–
DD	New	DU PONT ( E. I. ) DE NEMOURS &	$1,936,000	–	29,590	–	0.46%	–
CPT	New	CAMDEN PROPERTY TRUST	$1,918,000	–	26,965	–	0.46%	–
AIG	New	AMERICAN INTERNATIONAL GROUP I	$1,873,000	–	34,315	–	0.45%	–
RSG	New	REPUBLIC SERVICES INC	$1,847,000	–	48,655	–	0.44%	–
GLW	New	CORNING INC	$1,844,000	–	84,045	–	0.44%	–
ORCL	New	ORACLE	$1,717,000	–	42,375	–	0.41%	–
ACC	New	AMERICAN CAMPUS COMMUNITIES	$1,698,000	–	44,410	–	0.41%	–
PG	New	PROCTER & GAMBLE CO	$1,652,000	–	21,031	–	0.40%	–
COP	New	CONOCO PHILLIPS	$1,646,000	–	19,210	–	0.40%	–
FMS	New	FRESENIUS MEDICAL CARE ADR	$1,627,000	–	48,595	–	0.39%	–
BMY	New	BRISTOL-MYERS SQUIBB CORP	$1,534,000	–	31,633	–	0.37%	–
WM	New	WASTE MANAGEMENT INC.	$1,533,000	–	34,290	–	0.37%	–
TRV	New	THE TRAVELERS COMPANIES INC	$1,505,000	–	16,000	–	0.36%	–
BKLN	New	PROSHARES TR.SENIOR LOAN PTF E	$1,492,000	–	59,975	–	0.36%	–
ESS	New	ESSEX PROPERTY TRUST	$1,474,000	–	7,975	–	0.35%	–
FLR	New	FLUOR	$1,468,000	–	19,085	–	0.35%	–
UPS	New	UNITED PARCEL SVC INC CL B	$1,463,000	–	14,260	–	0.35%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$1,431,000	–	7,895	–	0.34%	–
IJR	New	ISHARES S&P SMALLCAP 600 INDEX	$1,378,000	–	12,296	–	0.33%	–
TCAP	New	TRIANGLE CAPITAL	$1,350,000	–	47,610	–	0.32%	–
LMT	New	LOCKHEED MARTIN CORPORATION	$1,324,000	–	8,241	–	0.32%	–
APD	New	AIR PRODUCTS & CHEMICALS INC	$1,317,000	–	10,240	–	0.32%	–
GE	New	GENERAL ELECTRIC CO	$1,256,000	–	47,785	–	0.30%	–
IWM	New	ISHARES RUSSELL 2000 ETF	$1,246,000	–	10,490	–	0.30%	–
CAT	New	CATERPILLAR INC	$1,243,000	–	11,439	–	0.30%	–
POT	New	POTASH CORPORATION OF SASKATCH	$1,201,000	–	31,635	–	0.29%	–
HON	New	HONEYWELL INTL	$1,166,000	–	12,552	–	0.28%	–
PHO	New	POWERSHARES WATER RESOURCES	$1,026,000	–	38,600	–	0.25%	–
KO	New	COCA-COLA	$1,011,000	–	23,866	–	0.24%	–
AMGN	New	AMGEN	$932,000	–	7,880	–	0.22%	–
MOO	New	MARKET VECTORS - AGRIBUSINESS	$884,000	–	16,075	–	0.21%	–
CMD	New	CANTEL MEDICAL CORP	$875,000	–	23,902	–	0.21%	–
CELG	New	CELGENE CORP	$807,000	–	9,400	–	0.19%	–
T	New	AT&T INC	$774,000	–	21,915	–	0.19%	–
APC	New	ANADARKO PETROLEUM	$721,000	–	6,590	–	0.17%	–
VZ	New	VERIZON COMMUNICATIONS	$705,000	–	14,428	–	0.17%	–
PZD	New	POWERSHARES CLEANTECH PORTFOLI	$685,000	–	20,850	–	0.16%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$642,000	–	9,256	–	0.15%	–
GS	New	GOLDMAN SACHS GROUP INC	$640,000	–	3,821	–	0.15%	–
APA	New	APACHE CORPORATION	$586,000	–	5,828	–	0.14%	–
ENIA	New	ENERSIS S.A. SPONS ADRadr	$573,000	–	34,000	–	0.14%	–
ABV	New	AMBEV ADRadr	$563,000	–	80,000	–	0.14%	–
RDSA	New	ROYAL DUTCH SHELL PLC SPONS ADadr	$562,000	–	6,820	–	0.14%	–
EPHE	New	ISHARES MSCI PHILIPPINES INVST	$552,000	–	15,000	–	0.13%	–
XBKS	New	XENITH CORP	$551,000	–	87,000	–	0.13%	–
MRK	New	MERCK & CO	$539,000	–	9,325	–	0.13%	–
EIDO	New	ISHARES MSCI INDONESIA INVSTBL	$528,000	–	20,000	–	0.13%	–
ITW	New	ILLINOIS TOOL WORKS INC.	$529,000	–	6,045	–	0.13%	–
ETAK	New	ELEPHANT TALK COMMUNICATIONS	$527,000	–	578,922	–	0.13%	–
CEF	New	CENTRAL FUND CANADA	$528,000	–	36,300	–	0.13%	–
CSWC	New	CAPITAL SOUTHWEST CORP	$527,000	–	14,648	–	0.13%	–
PHB	New	POWERSHARES ETF II-FUND.HY COR	$520,000	–	26,525	–	0.12%	–
CHD	New	CHURCH & DWIGHT CO INC.	$509,000	–	7,290	–	0.12%	–
AXP	New	AMERICAN EXPRESS	$495,000	–	5,220	–	0.12%	–
WAG	New	WALGREEN	$489,000	–	6,600	–	0.12%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION	$474,000	–	6,075	–	0.11%	–
CVX	New	CHEVRON CORPORATION	$434,000	–	3,323	–	0.10%	–
SBUX	New	STARBUCKS CORP.	$433,000	–	5,592	–	0.10%	–
WMT	New	WAL MART STORES	$427,000	–	5,690	–	0.10%	–
WFC	New	WELLS FARGO & CO	$430,000	–	8,186	–	0.10%	–
BDX	New	BECTON DICKINSON & CO	$421,000	–	3,560	–	0.10%	–
PBD	New	POWERSHARES GLOBAL CLEAN ENERG	$422,000	–	30,300	–	0.10%	–
BRKB	New	BERKSHIRE HATHAWAY INC.CL B	$412,000	–	3,255	–	0.10%	–
DVY	New	ISHARES SELECT DIVIDEND ETF	$404,000	–	5,250	–	0.10%	–
CVS	New	CVS CAREMARK CORP	$402,000	–	5,335	–	0.10%	–
CMCSK	New	COMCAST CORP NEW	$405,000	–	7,600	–	0.10%	–
ABT	New	ABBOTT LABS	$381,000	–	9,337	–	0.09%	–
R297	New	PROSHARES ULTRASHORT 20+ YR TR	$353,000	–	5,816	–	0.08%	–
PBW	New	POWERSHARES WILDERHILL CLEAN E	$331,000	–	48,000	–	0.08%	–
CROP	New	INDEXIQ GLOBAL AGRIBUSINESS SM	$334,000	–	12,175	–	0.08%	–
CL	New	COLGATE PALMOLIVE CO	$328,000	–	4,805	–	0.08%	–
GILD	New	GILEAD SCIENCES INC.	$330,000	–	3,980	–	0.08%	–
CSCO	New	CISCO SYSTEMS	$326,000	–	13,133	–	0.08%	–
ECL	New	ECOLAB INC	$306,000	–	2,750	–	0.07%	–
TYL	New	TYLER TECHNOLOGIES INC COM	$298,000	–	3,269	–	0.07%	–
DIS	New	WALT DISNEY COMPANY	$290,000	–	3,383	–	0.07%	–
DSI	New	ISHARES KLD 400 SOCIAL INDEX	$292,000	–	4,000	–	0.07%	–
SRCL	New	STERICYCLE INC	$284,000	–	2,395	–	0.07%	–
HCSG	New	HEALTHCARE SERVICES	$280,000	–	9,515	–	0.07%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$271,000	–	3,039	–	0.06%	–
CLR	New	CONTINENTAL RESOURCES	$261,000	–	1,650	–	0.06%	–
MA	New	MASTERCARD	$261,000	–	3,550	–	0.06%	–
LQD	New	ISHARES IBOXX INV GR CORP BOND	$262,000	–	2,200	–	0.06%	–
ZBH	New	ZIMMER HOLDINGS INC	$238,000	–	2,292	–	0.06%	–
HRS	New	HARRIS CORP DEL	$231,000	–	3,050	–	0.06%	–
FLS	New	FLOWSERVE CP	$234,000	–	3,150	–	0.06%	–
GLD	New	SPDR GOLD TRUST	$226,000	–	1,770	–	0.05%	–
XYL	New	XYLEM INC	$224,000	–	5,737	–	0.05%	–
PH	New	PARKER HANNIFIN CORP	$221,000	–	1,755	–	0.05%	–
PRGO	New	PERRIGO CO PLC	$213,000	–	1,460	–	0.05%	–
ABBV	New	ABBVIE INC	$209,000	–	3,707	–	0.05%	–
BFCF	New	BFC FINANCIAL CORP	$185,000	–	50,088	–	0.04%	–

Q4 2013

			Value		Shares		↓ Weighting
MBLX	Exit	METABOLIX INC	$0	–	-12,000	–	-0.00%	–
BFCF	Exit	BFC FINANCIAL CORP	$0	–	-46,369	–	-0.03%	–
LQD	Exit	ISHARES IBOXX INV GR CORP BOND	$0	–	-1,400	–	-0.04%	–
BCR	Exit	BARD (C.R.) INC.	$0	–	-1,745	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL INC	$0	–	-6,717	–	-0.05%	–
NEM	Exit	NEWMONT MINING CORP	$0	–	-7,440	–	-0.05%	–
CVS	Exit	CVS CAREMARK CORP	$0	–	-3,870	–	-0.05%	–
GOOGL	Exit	GOOGLE INC CL A	$0	–	-255	–	-0.06%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-1,770	–	-0.06%	–
FLS	Exit	FLOWSERVE CP	$0	–	-3,825	–	-0.06%	–
MA	Exit	MASTERCARD	$0	–	-355	–	-0.06%	–
HCSG	Exit	HEALTHCARE SERVICES	$0	–	-9,515	–	-0.06%	–
DSI	Exit	ISHARES KLD 400 SOCIAL INDEX	$0	–	-4,000	–	-0.06%	–
GILD	Exit	GILEAD SCIENCES INC.	$0	–	-3,980	–	-0.06%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-11,168	–	-0.06%	–
ECL	Exit	ECOLAB INC	$0	–	-2,765	–	-0.07%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC.CL B	$0	–	-2,430	–	-0.07%	–
SRCL	Exit	STERICYCLE INC	$0	–	-2,395	–	-0.07%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-3,889	–	-0.07%	–
CMCSK	Exit	COMCAST CORP NEW	$0	–	-6,600	–	-0.07%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-6,981	–	-0.07%	–
PBW	Exit	POWERSHARES WILDERHILL CLEAN E	$0	–	-48,000	–	-0.08%	–
WFM	Exit	WHOLE FOODS MARKET	$0	–	-5,426	–	-0.08%	–
CROP	Exit	INDEXIQ GLOBAL AGRIBUSINESS SM	$0	–	-12,025	–	-0.08%	–
PBD	Exit	POWERSHARES GLOBAL CLEAN ENERG	$0	–	-30,300	–	-0.09%	–
TYL	Exit	TYLER TECHNOLOGIES INC COM	$0	–	-4,000	–	-0.09%	–
EIDO	Exit	ISHARES MSCI INDONESIA INVSTBL	$0	–	-15,000	–	-0.09%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-3,560	–	-0.09%	–
WAG	Exit	WALGREEN	$0	–	-6,725	–	-0.09%	–
WMT	Exit	WAL MART STORES	$0	–	-4,885	–	-0.09%	–
MCD	Exit	MC DONALDS CORP	$0	–	-3,863	–	-0.09%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-6,350	–	-0.09%	–
IWF	Exit	ISHARES RUSSELL 1000 GROWTH	$0	–	-5,075	–	-0.10%	–
CHD	Exit	CHURCH & DWIGHT CO INC.	$0	–	-6,700	–	-0.10%	–
SBUX	Exit	STARBUCKS CORP.	$0	–	-5,592	–	-0.11%	–
R297	Exit	PROSHARES ULTRASHORT 20+ YR TR	$0	–	-5,816	–	-0.11%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC SPONS ADadr	$0	–	-6,820	–	-0.11%	–
ITW	Exit	ILLINOIS TOOL WORKS INC.	$0	–	-6,090	–	-0.11%	–
APA	Exit	APACHE CORPORATION	$0	–	-5,675	–	-0.12%	–
ABT	Exit	ABBOTT LABS	$0	–	-14,789	–	-0.12%	–
EPHE	Exit	ISHARES MSCI PHILIPPINES INVST	$0	–	-15,000	–	-0.12%	–
CSWC	Exit	CAPITAL SOUTHWEST CORP	$0	–	-14,648	–	-0.12%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-10,876	–	-0.12%	–
XBKS	Exit	XENITH CORP	$0	–	-87,000	–	-0.13%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-3,341	–	-0.13%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-8,786	–	-0.13%	–
ENIA	Exit	ENERSIS S.A. SPONS ADRadr	$0	–	-34,000	–	-0.14%	–
PZD	Exit	POWERSHARES CLEANTECH PORTFOLI	$0	–	-20,850	–	-0.15%	–
PHB	Exit	POWERSHARES ETF II-FUND.HY COR	$0	–	-33,200	–	-0.15%	–
CELG	Exit	CELGENE CORP	$0	–	-4,700	–	-0.18%	–
MOO	Exit	MARKET VECTORS - AGRIBUSINESS	$0	–	-14,775	–	-0.19%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-23,902	–	-0.19%	–
MRK	Exit	MERCK & CO	$0	–	-16,682	–	-0.20%	–
ABV	Exit	AMBEV ADRadr	$0	–	-20,825	–	-0.20%	–
ACC	Exit	AMERICAN CAMPUS COMMUNITIES	$0	–	-23,400	–	-0.20%	–
HON	Exit	HONEYWELL INTL	$0	–	-9,697	–	-0.20%	–
T	Exit	AT&T INC	$0	–	-24,649	–	-0.21%	–
APD	Exit	AIR PRODUCTS & CHEMICALS INC	$0	–	-7,895	–	-0.21%	–
LMT	Exit	LOCKHEED MARTIN CORPORATION	$0	–	-6,841	–	-0.22%	–
CPT	Exit	CAMDEN PROPERTY TRUST	$0	–	-14,300	–	-0.22%	–
AMGN	Exit	AMGEN	$0	–	-7,920	–	-0.22%	–
GLW	Exit	CORNING INC	$0	–	-61,510	–	-0.22%	–
BKLN	Exit	PROSHARES TR.SENIOR LOAN PTF E	$0	–	-36,300	–	-0.22%	–
WM	Exit	WASTE MANAGEMENT INC.	$0	–	-22,230	–	-0.23%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-12,866	–	-0.24%	–
ESS	Exit	ESSEX PROPERTY TRUST	$0	–	-6,705	–	-0.24%	–
TRV	Exit	THE TRAVELERS COMPANIES INC	$0	–	-11,765	–	-0.25%	–
TEI	Exit	TEMPLETON EMERGING MARKETS INC	$0	–	-71,750	–	-0.25%	–
UPS	Exit	UNITED PARCEL SVC INC CL B	$0	–	-11,800	–	-0.27%	–
IWM	Exit	ISHARES RUSSELL 2000 ETF	$0	–	-10,395	–	-0.27%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-46,709	–	-0.28%	–
COP	Exit	CONOCO PHILLIPS	$0	–	-16,067	–	-0.28%	–
TCAP	Exit	TRIANGLE CAPITAL	$0	–	-38,810	–	-0.28%	–
DVY	Exit	ISHARES SELECT DIVIDEND ETF	$0	–	-17,838	–	-0.29%	–
BK	Exit	BANK OF NEW YORK MELLON CORP	$0	–	-40,000	–	-0.30%	–
CVX	Exit	CHEVRON CORPORATION	$0	–	-10,022	–	-0.30%	–
VCSH	Exit	VANGUARD S/T CORP BOND ETF	$0	–	-16,990	–	-0.33%	–
GBDC	Exit	GOLUB CAPITAL BDC	$0	–	-78,460	–	-0.34%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-7,608	–	-0.35%	–
IVZ	Exit	INVESCO LTD	$0	–	-45,150	–	-0.36%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-15,978	–	-0.37%	–
DD	Exit	DU PONT ( E. I. ) DE NEMOURS &	$0	–	-26,590	–	-0.38%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-21,892	–	-0.39%	–
RSG	Exit	REPUBLIC SERVICES INC	$0	–	-49,090	–	-0.40%	–
FMS	Exit	FRESENIUS MEDICAL CARE ADR	$0	–	-52,240	–	-0.42%	–
IJR	Exit	ISHARES S&P SMALLCAP 600 INDEX	$0	–	-18,056	–	-0.44%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-28,395	–	-0.45%	–
CBSH	Exit	COMMERCE BANCSHARES INC.	$0	–	-43,072	–	-0.47%	–
MMM	Exit	3M COMPANY	$0	–	-16,015	–	-0.47%	–
PF	Exit	PINNACLE FOODS INC	$0	–	-73,785	–	-0.48%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-24,720	–	-0.50%	–
APC	Exit	ANADARKO PETROLEUM	$0	–	-27,910	–	-0.64%	–
IVV	Exit	ISHARES S&P 500 INDEX	$0	–	-15,775	–	-0.66%	–
ZTS	Exit	ZOETIS INC.	$0	–	-86,460	–	-0.66%	–
TGT	Exit	TARGET	$0	–	-42,548	–	-0.67%	–
FLR	Exit	FLUOR	$0	–	-39,372	–	-0.69%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-33,797	–	-0.72%	–
EMC	Exit	EMC	$0	–	-120,235	–	-0.76%	–
ORCL	Exit	ORACLE	$0	–	-100,393	–	-0.82%	–
IJH	Exit	ISHARES S&P MIDCAP 400	$0	–	-28,775	–	-0.88%	–
HD	Exit	HOME DEPOT	$0	–	-48,007	–	-0.90%	–
QCOM	Exit	QUALCOMM	$0	–	-54,144	–	-0.90%	–
OXY	Exit	OCCIDENTAL PETROLEUM	$0	–	-39,480	–	-0.91%	–
MON	Exit	MONSANTO	$0	–	-37,750	–	-0.97%	–
DEM	Exit	WISDOMTREE EMERGING MARKETS EQ	$0	–	-76,415	–	-0.97%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CORP	$0	–	-90,079	–	-1.03%	–
KO	Exit	COCA-COLA	$0	–	-115,251	–	-1.08%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-84,884	–	-1.08%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-59,342	–	-1.11%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-52,343	–	-1.11%	–
PFE	Exit	PFIZER	$0	–	-168,796	–	-1.20%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-145,665	–	-1.20%	–
PEP	Exit	PEPSICO INC	$0	–	-62,430	–	-1.22%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-46,444	–	-1.24%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-138,525	–	-1.35%	–
SLB	Exit	SCHLUMBERGER	$0	–	-70,295	–	-1.53%	–
AAPL	Exit	APPLE	$0	–	-18,385	–	-2.16%	–
IWV	Exit	ISHARES RUSSELL 3000 ETF	$0	–	-97,084	–	-2.42%	–
PHO	Exit	POWERSHARES WATER RESOURCES	$0	–	-449,244	–	-2.65%	–
VTI	Exit	VANGUARD TOTL SM ETF	$0	–	-130,335	–	-2.82%	–
MDY	Exit	SPDR S&P MIDCAP 400 ETF TRUST	$0	–	-56,454	–	-3.15%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS	$0	–	-345,723	–	-3.42%	–
REZ	Exit	ISHARES RESID REAL ESTATE CAPP	$0	–	-292,365	–	-3.46%	–
HEDJ	Exit	WISDOMTREE EUROPE HEDGED EQUIT	$0	–	-311,880	–	-4.09%	–
KYN	Exit	KAYNE ANDERSON MLP INVESTMENT	$0	–	-512,635	–	-4.53%	–
AAXJ	Exit	ISHARES MSCI ALL COUNTRY ASIA	$0	–	-318,635	–	-4.58%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-1,185,442	–	-5.06%	–
TYG	Exit	TORTOISE ENERGY INFRASTRUCTURE	$0	–	-498,329	–	-5.64%	–
IWO	Exit	ISHARES RUSSELL 2000 GROWTH ET	$0	–	-200,395	–	-6.22%	–
SPY	Exit	SPDR S&P 500 ETF TRUST	$0	–	-212,709	–	-8.82%	–

Q3 2013

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRUST	$35,737,000	+6.0%	212,709	+1.2%	8.82%	-0.4%
IWO	Buy	ISHARES RUSSELL 2000 GROWTH ET	$25,218,000	+107.0%	200,395	+83.4%	6.22%	+94.6%
TYG	Buy	TORTOISE ENERGY INFRASTRUCTURE	$22,873,000	-0.9%	498,329	+0.4%	5.64%	-6.8%
ARCC	Buy	ARES CAPITAL CORP	$20,496,000	+3.5%	1,185,442	+3.0%	5.06%	-2.7%
AAXJ	Buy	ISHARES MSCI ALL COUNTRY ASIA	$18,570,000	+6.7%	318,635	+0.3%	4.58%	+0.3%
KYN	Sell	KAYNE ANDERSON MLP INVESTMENT	$18,377,000	-8.0%	512,635	-0.2%	4.53%	-13.5%
HEDJ	New	WISDOMTREE EUROPE HEDGED EQUIT	$16,576,000	–	311,880	–	4.09%	–
REZ	Sell	ISHARES RESID REAL ESTATE CAPP	$14,025,000	-7.8%	292,365	-1.6%	3.46%	-13.3%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS	$13,876,000	+7.3%	345,723	+3.7%	3.42%	+0.9%
MDY	Buy	SPDR S&P MIDCAP 400 ETF TRUST	$12,777,000	+7.9%	56,454	+0.1%	3.15%	+1.4%
VTI	Buy	VANGUARD TOTL SM ETF	$11,424,000	+80.4%	130,335	+70.2%	2.82%	+69.6%
PHO	Sell	POWERSHARES WATER RESOURCES	$10,741,000	+6.1%	449,244	-2.2%	2.65%	-0.2%
IWV	Sell	ISHARES RUSSELL 3000 ETF	$9,819,000	+2.1%	97,084	-2.7%	2.42%	-4.0%
AAPL	Buy	APPLE	$8,765,000	+32.2%	18,385	+10.0%	2.16%	+24.3%
SLB	Buy	SCHLUMBERGER	$6,211,000	+59.5%	70,295	+29.3%	1.53%	+49.9%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKET	$5,483,000	+22.7%	138,525	+10.3%	1.35%	+15.3%
UTX	Sell	UNITED TECHNOLOGIES	$5,008,000	+12.5%	46,444	-3.1%	1.24%	+5.7%
PEP	Buy	PEPSICO INC	$4,963,000	+5.1%	62,430	+8.1%	1.22%	-1.2%
PFE	Buy	PFIZER	$4,849,000	+32.3%	168,796	+29.0%	1.20%	+24.3%
MSFT	Sell	MICROSOFT CORP	$4,848,000	-8.5%	145,665	-5.0%	1.20%	-14.0%
XOM	Sell	EXXON MOBIL CORP	$4,503,000	-6.2%	52,343	-1.5%	1.11%	-11.8%
PG	Buy	PROCTER & GAMBLE CO	$4,485,000	+0.2%	59,342	+2.1%	1.11%	-5.8%
JPM	Sell	JPMORGAN CHASE	$4,388,000	-6.5%	84,884	-4.5%	1.08%	-12.0%
KO	Buy	COCA-COLA	$4,365,000	-4.5%	115,251	+1.1%	1.08%	-10.2%
BMY	Buy	BRISTOL-MYERS SQUIBB CORP	$4,168,000	+7.5%	90,079	+3.8%	1.03%	+1.0%
DEM	Sell	WISDOMTREE EMERGING MARKETS EQ	$3,949,000	-78.0%	76,415	-79.4%	0.97%	-79.3%
MON	Sell	MONSANTO	$3,940,000	+5.2%	37,750	-0.4%	0.97%	-1.1%
OXY	Sell	OCCIDENTAL PETROLEUM	$3,693,000	+2.2%	39,480	-2.6%	0.91%	-4.0%
QCOM	Buy	QUALCOMM	$3,645,000	+17.5%	54,144	+6.6%	0.90%	+10.4%
HD	Sell	HOME DEPOT	$3,641,000	-4.1%	48,007	-2.0%	0.90%	-9.8%
IJH	Buy	ISHARES S&P MIDCAP 400	$3,572,000	+10.5%	28,775	+2.8%	0.88%	+3.9%
ORCL	Buy	ORACLE	$3,330,000	+13.0%	100,393	+4.6%	0.82%	+6.3%
EMC	Buy	EMC	$3,073,000	+10.7%	120,235	+2.3%	0.76%	+4.1%
JNJ	Buy	JOHNSON & JOHNSON	$2,929,000	+2.1%	33,797	+1.2%	0.72%	-4.0%
FLR	Buy	FLUOR	$2,794,000	+122.5%	39,372	+85.9%	0.69%	+108.8%
TGT	Buy	TARGET	$2,722,000	-5.2%	42,548	+2.1%	0.67%	-10.8%
ZTS	Buy	ZOETIS INC.	$2,691,000	+156.8%	86,460	+154.9%	0.66%	+141.5%
IVV	Buy	ISHARES S&P 500 INDEX	$2,664,000	+9.7%	15,775	+4.5%	0.66%	+3.1%
APC	Buy	ANADARKO PETROLEUM	$2,595,000	+16.9%	27,910	+8.1%	0.64%	+10.0%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS	$2,030,000	+25.5%	24,720	-4.3%	0.50%	+17.9%
PF	Sell	PINNACLE FOODS INC	$1,953,000	+8.2%	73,785	-1.3%	0.48%	+1.7%
MMM	Buy	3M COMPANY	$1,912,000	+43.8%	16,015	+31.6%	0.47%	+35.2%
EMR	Buy	EMERSON ELECTRIC CO	$1,837,000	+39.3%	28,395	+17.4%	0.45%	+30.9%
IJR	Buy	ISHARES S&P SMALLCAP 600 INDEX	$1,802,000	+15.0%	18,056	+4.0%	0.44%	+8.3%
FMS	Sell	FRESENIUS MEDICAL CARE ADR	$1,692,000	-9.1%	52,240	-1.0%	0.42%	-14.5%
RSG	Sell	REPUBLIC SERVICES INC	$1,638,000	-5.5%	49,090	-3.9%	0.40%	-11.2%
ADP	Buy	AUTOMATIC DATA PROCESSING	$1,584,000	+11.3%	21,892	+6.0%	0.39%	+4.8%
DD	Buy	DU PONT ( E. I. ) DE NEMOURS &	$1,557,000	+30.0%	26,590	+16.5%	0.38%	+22.3%
KMB	Buy	KIMBERLY-CLARK	$1,505,000	+13.7%	15,978	+17.3%	0.37%	+6.9%
IVZ	Sell	INVESCO LTD	$1,440,000	-3.9%	45,150	-4.2%	0.36%	-9.7%
IBM	Sell	INTERNATIONAL BUSINESS MACHINE	$1,409,000	-8.8%	7,608	-5.9%	0.35%	-14.1%
GBDC	Buy	GOLUB CAPITAL BDC	$1,359,000	+20.7%	78,460	+21.9%	0.34%	+13.6%
VCSH	Sell	VANGUARD S/T CORP BOND ETF	$1,352,000	-62.4%	16,990	-62.7%	0.33%	-64.6%
CVX	Buy	CHEVRON CORPORATION	$1,217,000	+14.9%	10,022	+12.0%	0.30%	+7.9%
DVY	Sell	ISHARES SELECT DIVIDEND ETF	$1,183,000	-6.1%	17,838	-9.4%	0.29%	-11.8%
TCAP	Buy	TRIANGLE CAPITAL	$1,139,000	+33.8%	38,810	+25.4%	0.28%	+26.0%
COP	Buy	CONOCO PHILLIPS	$1,116,000	+33.8%	16,067	+16.6%	0.28%	+25.6%
GE	Sell	GENERAL ELECTRIC CO	$1,116,000	+2.1%	46,709	-0.9%	0.28%	-4.2%
UPS	Buy	UNITED PARCEL SVC INC CL B	$1,078,000	+39.3%	11,800	+31.8%	0.27%	+31.0%
TEI	Buy	TEMPLETON EMERGING MARKETS INC	$1,024,000	+3.5%	71,750	+7.5%	0.25%	-2.3%
TRV	Buy	THE TRAVELERS COMPANIES INC	$997,000	+30.3%	11,765	+22.9%	0.25%	+22.4%
ESS	Buy	ESSEX PROPERTY TRUST	$990,000	+28.1%	6,705	+38.0%	0.24%	+20.2%
AXP	Sell	AMERICAN EXPRESS	$972,000	-72.6%	12,866	-72.9%	0.24%	-74.2%
WM	Buy	WASTE MANAGEMENT INC.	$916,000	+58.2%	22,230	+54.7%	0.23%	+48.7%
GLW	Buy	CORNING INC	$897,000	+73.5%	61,510	+69.4%	0.22%	+62.5%
BKLN	Buy	PROSHARES TR.SENIOR LOAN PTF E	$896,000	+24.8%	36,300	+25.2%	0.22%	+17.6%
AMGN	Buy	AMGEN	$886,000	+18.1%	7,920	+4.2%	0.22%	+11.2%
CPT	Buy	CAMDEN PROPERTY TRUST	$878,000	+26.0%	14,300	+42.0%	0.22%	+18.6%
LMT	Buy	LOCKHEED MARTIN CORPORATION	$872,000	+37.1%	6,841	+16.7%	0.22%	+28.7%
APD	Buy	AIR PRODUCTS & CHEMICALS INC	$841,000	+80.1%	7,895	+55.0%	0.21%	+68.3%
T	Buy	AT&T INC	$833,000	-2.6%	24,649	+2.0%	0.21%	-8.0%
HON	Buy	HONEYWELL INTL	$805,000	+20.0%	9,697	+14.7%	0.20%	+13.1%
ACC	Buy	AMERICAN CAMPUS COMMUNITIES	$799,000	+26.4%	23,400	+50.5%	0.20%	+18.7%
MRK	Buy	MERCK & CO	$794,000	+2.8%	16,682	+0.4%	0.20%	-3.4%
CMD	Buy	CANTEL MEDICAL CORP	$761,000	+42.5%	23,902	+51.7%	0.19%	+34.3%
MOO	Sell	MARKET VECTORS - AGRIBUSINESS	$758,000	-92.3%	14,775	-92.3%	0.19%	-92.8%
PHB	Sell	POWERSHARES ETF II-FUND.HY COR	$624,000	-47.5%	33,200	-47.9%	0.15%	-50.6%
ENIA	New	ENERSIS S.A. SPONS ADRadr	$546,000	–	34,000	–	0.14%	–
ESRX	Buy	EXPRESS SCRIPTS HOLDING CO	$543,000	+56.5%	8,786	+56.4%	0.13%	+47.3%
GS	Sell	GOLDMAN SACHS GROUP INC	$529,000	-1.3%	3,341	-5.6%	0.13%	-7.1%
VZ	Buy	VERIZON COMMUNICATIONS	$508,000	+19.5%	10,876	+28.8%	0.12%	+11.6%
CSWC	Buy	CAPITAL SOUTHWEST CORP	$501,000	-0.8%	14,648	+300.0%	0.12%	-6.8%
EPHE	Buy	ISHARES MSCI PHILIPPINES INVST	$493,000	+17.4%	15,000	+25.0%	0.12%	+10.9%
ABT	Buy	ABBOTT LABS	$490,000	+27.6%	14,789	+34.1%	0.12%	+19.8%
APA	Buy	APACHE CORPORATION	$483,000	+12.9%	5,675	+11.3%	0.12%	+6.2%
ITW	Buy	ILLINOIS TOOL WORKS INC.	$464,000	+11.0%	6,090	+0.7%	0.11%	+3.6%
R297	Sell	PROSHARES ULTRASHORT 20+ YR TR	$438,000	-48.2%	5,816	-50.1%	0.11%	-51.4%
SBUX	New	STARBUCKS CORP.	$430,000	–	5,592	–	0.11%	–
CHD	New	CHURCH & DWIGHT CO INC.	$402,000	–	6,700	–	0.10%	–
CL	Sell	COLGATE PALMOLIVE CO	$377,000	+3.3%	6,350	-0.4%	0.09%	-3.1%
MCD	Sell	MC DONALDS CORP	$371,000	-10.2%	3,863	-7.3%	0.09%	-14.8%
WMT	Sell	WAL MART STORES	$361,000	-24.3%	4,885	-23.7%	0.09%	-28.8%
BDX	New	BECTON DICKINSON & CO	$356,000	–	3,560	–	0.09%	–
EIDO	Buy	ISHARES MSCI INDONESIA INVSTBL	$354,000	+62.4%	15,000	+114.3%	0.09%	+52.6%
CROP	Sell	INDEXIQ GLOBAL AGRIBUSINESS SM	$326,000	+4.2%	12,025	-1.2%	0.08%	-2.4%
WFM	New	WHOLE FOODS MARKET	$317,000	–	5,426	–	0.08%	–
WFC	New	WELLS FARGO & CO	$288,000	–	6,981	–	0.07%	–
BRKB	Sell	BERKSHIRE HATHAWAY INC.CL B	$276,000	-9.8%	2,430	-11.0%	0.07%	-15.0%
SRCL	New	STERICYCLE INC	$276,000	–	2,395	–	0.07%	–
ECL	New	ECOLAB INC	$273,000	–	2,765	–	0.07%	–
CSCO	Sell	CISCO SYSTEMS	$262,000	-13.5%	11,168	-10.4%	0.06%	-18.8%
HCSG	New	HEALTHCARE SERVICES	$245,000	–	9,515	–	0.06%	–
MA	New	MASTERCARD	$239,000	–	355	–	0.06%	–
GLD	New	SPDR GOLD TRUST	$226,000	–	1,770	–	0.06%	–
CVS	Sell	CVS CAREMARK CORP	$220,000	-20.3%	3,870	-19.7%	0.05%	-25.0%
NEM	Sell	NEWMONT MINING CORP	$209,000	-11.8%	7,440	-5.9%	0.05%	-16.1%
MDLZ	Sell	MONDELEZ INTERNATIONAL INC	$211,000	-0.5%	6,717	-9.4%	0.05%	-7.1%
BCR	New	BARD (C.R.) INC.	$201,000	–	1,745	–	0.05%	–
LQD	Sell	ISHARES IBOXX INV GR CORP BOND	$159,000	-56.9%	1,400	-56.9%	0.04%	-59.8%
BFCF	Buy	BFC FINANCIAL CORP	$122,000	+45.2%	46,369	+31.7%	0.03%	+36.4%
ABBV	Exit	ABBVIE INC	$0	–	-5,402	–	-0.06%	–
EWC	Exit	ISHARES MSCI CANADA ETF	$0	–	-10,790	–	-0.07%	–
EWL	Exit	ISHARES MSCI SWITZERLAND INDEX	$0	–	-13,000	–	-0.10%	–
VALE	Exit	VALE S.Aadr	$0	–	-53,000	–	-0.18%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-9,700	–	-0.20%	–
ADT	Exit	ADT CORP	$0	–	-34,445	–	-0.36%	–
VLO	Exit	VALERO ENERGY CORP NEW	$0	–	-47,565	–	-0.43%	–
D	Exit	DOMINION RESOURCES INC. NEW	$0	–	-49,019	–	-0.73%	–

Q2 2013

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRUST	$33,730,000	–	210,261	–	8.85%	–
TYG	New	TORTOISE ENERGY INFRASTRUCTURE	$23,074,000	–	496,209	–	6.05%	–
KYN	New	KAYNE ANDERSON MLP INVESTMENT	$19,978,000	–	513,710	–	5.24%	–
ARCC	New	ARES CAPITAL CORP	$19,794,000	–	1,150,783	–	5.19%	–
DEM	New	WISDOMTREE EMERGING MARKETS EQ	$17,940,000	–	371,213	–	4.71%	–
AAXJ	New	ISHARES MSCI ALL COUNTRY ASIA	$17,405,000	–	317,775	–	4.57%	–
REZ	New	ISHARES RESID REAL ESTATE CAPP	$15,211,000	–	297,215	–	3.99%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS	$12,930,000	–	333,283	–	3.39%	–
IWO	New	ISHARES RUSSELL 2000 GROWTH ET	$12,182,000	–	109,245	–	3.20%	–
MDY	New	SPDR S&P MIDCAP 400 ETF TRUST	$11,844,000	–	56,374	–	3.11%	–
PHO	New	POWERSHARES WATER RESOURCES	$10,121,000	–	459,199	–	2.66%	–
MOO	New	MARKET VECTORS - AGRIBUSINESS	$9,864,000	–	192,685	–	2.59%	–
IWV	New	ISHARES RUSSELL 3000 ETF	$9,614,000	–	99,729	–	2.52%	–
AAPL	New	APPLE	$6,630,000	–	16,720	–	1.74%	–
VTI	New	VANGUARD TOTL SM ETF	$6,333,000	–	76,600	–	1.66%	–
MSFT	New	MICROSOFT CORP	$5,298,000	–	153,363	–	1.39%	–
XOM	New	EXXON MOBIL CORP	$4,803,000	–	53,165	–	1.26%	–
PEP	New	PEPSICO INC	$4,722,000	–	57,740	–	1.24%	–
JPM	New	JPMORGAN CHASE	$4,692,000	–	88,876	–	1.23%	–
KO	New	COCA-COLA	$4,570,000	–	113,946	–	1.20%	–
PG	New	PROCTER & GAMBLE CO	$4,475,000	–	58,127	–	1.17%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$4,470,000	–	125,555	–	1.17%	–
UTX	New	UNITED TECHNOLOGIES	$4,452,000	–	47,907	–	1.17%	–
SLB	New	SCHLUMBERGER	$3,895,000	–	54,355	–	1.02%	–
BMY	New	BRISTOL-MYERS SQUIBB CORP	$3,878,000	–	86,791	–	1.02%	–
HD	New	HOME DEPOT	$3,795,000	–	48,982	–	1.00%	–
MON	New	MONSANTO	$3,745,000	–	37,900	–	0.98%	–
PFE	New	PFIZER	$3,666,000	–	130,866	–	0.96%	–
OXY	New	OCCIDENTAL PETROLEUM	$3,615,000	–	40,514	–	0.95%	–
VCSH	New	VANGUARD S/T CORP BOND ETF	$3,598,000	–	45,490	–	0.94%	–
AXP	New	AMERICAN EXPRESS	$3,552,000	–	47,507	–	0.93%	–
IJH	New	ISHARES S&P MIDCAP 400	$3,232,000	–	27,980	–	0.85%	–
QCOM	New	QUALCOMM	$3,102,000	–	50,778	–	0.81%	–
ORCL	New	ORACLE	$2,948,000	–	95,993	–	0.77%	–
TGT	New	TARGET	$2,870,000	–	41,678	–	0.75%	–
JNJ	New	JOHNSON & JOHNSON	$2,868,000	–	33,408	–	0.75%	–
D	New	DOMINION RESOURCES INC. NEW	$2,785,000	–	49,019	–	0.73%	–
EMC	New	EMC	$2,776,000	–	117,535	–	0.73%	–
IVV	New	ISHARES S&P 500 INDEX	$2,429,000	–	15,100	–	0.64%	–
APC	New	ANADARKO PETROLEUM	$2,220,000	–	25,830	–	0.58%	–
CBSH	New	COMMERCE BANCSHARES INC.	$1,876,000	–	43,072	–	0.49%	–
FMS	New	FRESENIUS MEDICAL CARE ADR	$1,861,000	–	52,755	–	0.49%	–
PF	New	PINNACLE FOODS INC	$1,805,000	–	74,750	–	0.47%	–
RSG	New	REPUBLIC SERVICES INC	$1,734,000	–	51,080	–	0.46%	–
VLO	New	VALERO ENERGY CORP NEW	$1,654,000	–	47,565	–	0.43%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$1,618,000	–	25,830	–	0.42%	–
IJR	New	ISHARES S&P SMALLCAP 600 INDEX	$1,567,000	–	17,356	–	0.41%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$1,545,000	–	8,083	–	0.40%	–
IVZ	New	INVESCO LTD	$1,499,000	–	47,145	–	0.39%	–
ADP	New	AUTOMATIC DATA PROCESSING	$1,423,000	–	20,657	–	0.37%	–
ADT	New	ADT CORP	$1,373,000	–	34,445	–	0.36%	–
MMM	New	3M COMPANY	$1,330,000	–	12,165	–	0.35%	–
KMB	New	KIMBERLY-CLARK	$1,324,000	–	13,623	–	0.35%	–
EMR	New	EMERSON ELECTRIC CO	$1,319,000	–	24,185	–	0.35%	–
DVY	New	ISHARES SELECT DIVIDEND ETF	$1,260,000	–	19,688	–	0.33%	–
FLR	New	FLUOR	$1,256,000	–	21,180	–	0.33%	–
DD	New	DU PONT ( E. I. ) DE NEMOURS &	$1,198,000	–	22,815	–	0.31%	–
PHB	New	POWERSHARES ETF II-FUND.HY COR	$1,188,000	–	63,740	–	0.31%	–
GBDC	New	GOLUB CAPITAL BDC	$1,126,000	–	64,365	–	0.30%	–
BK	New	BANK OF NEW YORK MELLON CORP	$1,122,000	–	40,000	–	0.29%	–
GE	New	GENERAL ELECTRIC CO	$1,093,000	–	47,141	–	0.29%	–
CVX	New	CHEVRON CORPORATION	$1,059,000	–	8,947	–	0.28%	–
ZTS	New	ZOETIS INC.	$1,048,000	–	33,914	–	0.28%	–
IWM	New	ISHARES RUSSELL 2000 ETF	$1,008,000	–	10,395	–	0.26%	–
TEI	New	TEMPLETON EMERGING MARKETS INC	$989,000	–	66,750	–	0.26%	–
T	New	AT&T INC	$855,000	–	24,158	–	0.22%	–
TCAP	New	TRIANGLE CAPITAL	$851,000	–	30,945	–	0.22%	–
R297	New	PROSHARES ULTRASHORT 20+ YR TR	$845,000	–	11,666	–	0.22%	–
COP	New	CONOCO PHILLIPS	$834,000	–	13,780	–	0.22%	–
VRTX	New	VERTEX PHARMACEUTICALS	$777,000	–	9,700	–	0.20%	–
ABV	New	AMBEV ADRadr	$778,000	–	20,825	–	0.20%	–
ESS	New	ESSEX PROPERTY TRUST	$773,000	–	4,860	–	0.20%	–
UPS	New	UNITED PARCEL SVC INC CL B	$774,000	–	8,955	–	0.20%	–
MRK	New	MERCK & CO	$772,000	–	16,622	–	0.20%	–
TRV	New	THE TRAVELERS COMPANIES INC	$765,000	–	9,570	–	0.20%	–
AMGN	New	AMGEN	$750,000	–	7,600	–	0.20%	–
BKLN	New	PROSHARES TR.SENIOR LOAN PTF E	$718,000	–	29,000	–	0.19%	–
VALE	New	VALE S.Aadr	$697,000	–	53,000	–	0.18%	–
CPT	New	CAMDEN PROPERTY TRUST	$697,000	–	10,070	–	0.18%	–
HON	New	HONEYWELL INTL	$671,000	–	8,452	–	0.18%	–
LMT	New	LOCKHEED MARTIN CORPORATION	$636,000	–	5,861	–	0.17%	–
ACC	New	AMERICAN CAMPUS COMMUNITIES	$632,000	–	15,545	–	0.17%	–
WM	New	WASTE MANAGEMENT INC.	$579,000	–	14,370	–	0.15%	–
CELG	New	CELGENE CORP	$550,000	–	4,700	–	0.14%	–
GS	New	GOLDMAN SACHS GROUP INC	$536,000	–	3,541	–	0.14%	–
CMD	New	CANTEL MEDICAL CORP	$534,000	–	15,755	–	0.14%	–
PZD	New	POWERSHARES CLEANTECH PORTFOLI	$528,000	–	20,850	–	0.14%	–
GLW	New	CORNING INC	$517,000	–	36,315	–	0.14%	–
CSWC	New	CAPITAL SOUTHWEST CORP	$505,000	–	3,662	–	0.13%	–
WMT	New	WAL MART STORES	$477,000	–	6,400	–	0.12%	–
APD	New	AIR PRODS & CHEMS INC	$467,000	–	5,095	–	0.12%	–
XBKS	New	XENITH CORP	$463,000	–	87,000	–	0.12%	–
RDSA	New	ROYAL DUTCH SHELL PLC SPONS ADadr	$435,000	–	6,820	–	0.11%	–
APA	New	APACHE CORPORATION	$428,000	–	5,100	–	0.11%	–
VZ	New	VERIZON COMMUNICATIONS	$425,000	–	8,441	–	0.11%	–
EPHE	New	ISHARES MSCI PHILIPPINES INVST	$420,000	–	12,000	–	0.11%	–
ITW	New	ILLINOIS TOOL WORKS INC.	$418,000	–	6,045	–	0.11%	–
MCD	New	MC DONALDS CORP	$413,000	–	4,168	–	0.11%	–
ABT	New	ABBOTT LABS	$384,000	–	11,032	–	0.10%	–
EWL	New	ISHARES MSCI SWITZERLAND INDEX	$372,000	–	13,000	–	0.10%	–
IWF	New	ISHARES RUSSELL 1000 GROWTH	$369,000	–	5,075	–	0.10%	–
LQD	New	ISHARES IBOXX INV GR CORP BOND	$369,000	–	3,250	–	0.10%	–
CL	New	COLGATE PALMOLIVE CO	$365,000	–	6,376	–	0.10%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$347,000	–	5,616	–	0.09%	–
CROP	New	INDEXIQ GLOBAL AGRIBUSINESS SM	$313,000	–	12,175	–	0.08%	–
CSCO	New	CISCO SYSTEMS	$303,000	–	12,468	–	0.08%	–
BRKB	New	BERKSHIRE HATHAWAY INC.CL B	$306,000	–	2,730	–	0.08%	–
WAG	New	WALGREEN	$297,000	–	6,725	–	0.08%	–
PBD	New	POWERSHARES GLOBAL CLEAN ENERG	$295,000	–	30,300	–	0.08%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$284,000	–	3,889	–	0.08%	–
EWC	New	ISHARES MSCI CANADA ETF	$282,000	–	10,790	–	0.07%	–
TYL	New	TYLER TECHNOLOGIES INC COM	$274,000	–	4,000	–	0.07%	–
CVS	New	CVS CAREMARK CORP	$276,000	–	4,820	–	0.07%	–
CMCSK	New	COMCAST CORP NEW	$262,000	–	6,600	–	0.07%	–
PBW	New	POWERSHARES WILDERHILL CLEAN E	$259,000	–	48,000	–	0.07%	–
DSI	New	ISHARES KLD 400 SOCIAL INDEX	$241,000	–	4,000	–	0.06%	–
NEM	New	NEWMONT MINING CORP	$237,000	–	7,905	–	0.06%	–
GOOGL	New	GOOGLE INC CL A	$224,000	–	255	–	0.06%	–
ABBV	New	ABBVIE INC	$223,000	–	5,402	–	0.06%	–
EIDO	New	ISHARES MSCI INDONESIA INVSTBL	$218,000	–	7,000	–	0.06%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$212,000	–	7,417	–	0.06%	–
GILD	New	GILEAD SCIENCES INC.	$204,000	–	3,980	–	0.05%	–
FLS	New	FLOWSERVE CP	$207,000	–	3,825	–	0.05%	–
BFCF	New	BFC FINANCIAL CORP	$84,000	–	35,212	–	0.02%	–
MBLX	New	METABOLIX INC	$17,000	–	12,000	–	0.00%	–

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