The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Company COM 88579Y101 557 3,159 SH   SOLE   3,159 0 0
AFLAC Inc COM 001055102 201 2,800 SH   SOLE   2,800 0 0
AIG Warrants Expire 1/19/2021 COM 026874156 778 36,700 SH   SOLE   36,700 0 0
AT&T, Inc. COM 00206R102 1,609 39,612 SH   SOLE   39,612 0 0
Aetna Inc New COM 00817Y108 474 4,108 SH   SOLE   4,108 0 0
Agilent Technologies Inc COM 00846U101 263 5,586 SH   SOLE   5,586 0 0
Alphabet Inc Cl A COM 02079k305 399 496 SH   SOLE   496 0 0
Alphabet Inc Cl C COM 02079k107 435 559 SH   SOLE   559 0 0
Altria Group Inc COM 02209S103 315 4,985 SH   SOLE   4,985 0 0
Amazon.com, Inc. COM 023135106 716 855 SH   SOLE   855 0 0
American Express Company COM 025816109 1,212 18,920 SH   SOLE   18,920 0 0
American International Group N COM 026874784 1,972 33,225 SH   SOLE   33,225 0 0
Amgen Inc. COM 031162100 515 3,086 SH   SOLE   3,086 0 0
Apollo Global Management LLC COM 037612306 925 51,500 SH   SOLE   51,500 0 0
Apple Inc COM 037833100 3,940 34,856 SH   SOLE   34,856 0 0
Applied Materials Inc COM 038222105 323 10,700 SH   SOLE   10,700 0 0
Avis Budget Group Inc COM 053774105 326 9,540 SH   SOLE   9,540 0 0
Banco Santander, S.A. (ADR) COM 05964h105 350 79,281 SH   SOLE   79,281 0 0
Bank of America Corp COM 060505104 3,065 195,848 SH   SOLE   195,848 0 0
Bank of America Corp Warrants COM 060505146 92 20,000 SH   SOLE   20,000 0 0
Becton Dickinson & Co COM 075887109 790 4,397 SH   SOLE   4,397 0 0
Berkshire Hathaway Cl B COM 084670702 1,187 8,215 SH   SOLE   8,215 0 0
Berkshire Hathaway Inc. 1/100t COM 084670108 216 100 SH   SOLE   100 0 0
Blackstone Group LP COM 09253U108 3,194 125,110 SH   SOLE   125,110 0 0
Boeing Co COM 097023105 863 6,550 SH   SOLE   6,550 0 0
Bristol-Myers Squibb Co. COM 110122108 908 16,840 SH   SOLE   16,840 0 0
CBS Corp Cl B New COM 124857202 284 5,190 SH   SOLE   5,190 0 0
CVS Caremark Corp COM 126650100 610 6,850 SH   SOLE   6,850 0 0
Carlyle Group COM 14309l102 3,775 242,450 SH   SOLE   242,450 0 0
Caterpillar Inc COM 149123101 656 7,395 SH   SOLE   7,395 0 0
Charles Schwab Corp. COM 808513105 1,466 46,446 SH   SOLE   46,446 0 0
Chesapeake Energy Corp COM 165167107 387 61,750 SH   SOLE   61,750 0 0
Chevron Corp COM 166764100 660 6,415 SH   SOLE   6,415 0 0
Cisco Systems Inc COM 17275R102 1,804 56,867 SH   SOLE   56,867 0 0
Citigroup Inc COM 172967424 2,171 45,959 SH   SOLE   45,959 0 0
Coach Inc COM 189754104 23,530 643,604 SH   SOLE   643,604 0 0
Coca-Cola Co. COM 191216100 259 6,129 SH   SOLE   6,129 0 0
Comcast Corp New Cl A COM 20030N101 2,204 33,222 SH   SOLE   33,222 0 0
ConocoPhillips COM 20825C104 785 18,051 SH   SOLE   18,051 0 0
Corning Inc COM 219350105 248 10,498 SH   SOLE   10,498 0 0
Costco Wholesale Corp New COM 22160K105 1,307 8,570 SH   SOLE   8,570 0 0
Diageo Plc New (ADR) COM 25243Q205 244 2,100 SH   SOLE   2,100 0 0
Discovery Communications Ser A COM 25470F104 204 7,587 SH   SOLE   7,587 0 0
Discovery Communications Ser C COM 25470F302 553 21,012 SH   SOLE   21,012 0 0
Dupont E.I. Denemours COM 263534109 221 3,297 SH   SOLE   3,297 0 0
Emerson Electric Co COM 291011104 214 3,918 SH   SOLE   3,918 0 0
Expedia Inc COM 30212p303 245 2,100 SH   SOLE   2,100 0 0
Exxon Mobil Corp COM 30231G102 698 7,999 SH   SOLE   7,999 0 0
FedEx Corp. COM 31428X106 2,076 11,885 SH   SOLE   11,885 0 0
Federal Realty Investment Trus COM 313747206 335 2,175 SH   SOLE   2,175 0 0
General Electric Company COM 369604103 3,905 131,836 SH   SOLE   131,836 0 0
Gilead Sciences Inc COM 375558103 203 2,560 SH   SOLE   2,560 0 0
GlaxoSmithKline Plc (ADR) COM 37733W105 404 9,372 SH   SOLE   9,372 0 0
Goldman Sachs Group Inc COM 38141G104 303 1,880 SH   SOLE   1,880 0 0
HP Inc. COM 40434l105 1,064 68,512 SH   SOLE   68,512 0 0
HSBC Hldgs PLC (ADR)New COM 404280406 276 7,345 SH   SOLE   7,345 0 0
Hewlett Packard Enterprise Com COM 42824c109 1,487 65,361 SH   SOLE   65,361 0 0
Home Depot Inc COM 437076102 2,641 20,523 SH   SOLE   20,523 0 0
Honda Motor Co Ltd (ADR) COM 438128308 361 12,468 SH   SOLE   12,468 0 0
Honeywell International COM 438516106 1,445 12,396 SH   SOLE   12,396 0 0
Host Hotels & Resorts, Inc. COM 44107P104 530 34,015 SH   SOLE   34,015 0 0
Humana Inc COM 444859102 637 3,600 SH   SOLE   3,600 0 0
Intel Corp COM 458140100 2,316 61,342 SH   SOLE   61,342 0 0
International Bancshares Corp. COM 459044103 14,608 490,525 SH   SOLE   490,525 0 0
International Business Machine COM 459200101 1,187 7,470 SH   SOLE   7,470 0 0
JP Morgan Warrants Exp. 10/28/ COM 46634e114 664 26,950 SH   SOLE   26,950 0 0
JPMorgan Chase & Co COM 46625H100 2,201 33,052 SH   SOLE   33,052 0 0
Johnson & Johnson COM 478160104 1,589 13,449 SH   SOLE   13,449 0 0
Johnson Controls Inc. COM g51502105 509 10,934 SH   SOLE   10,934 0 0
KKR & Co. LP Del Com Units COM 48248m102 3,711 260,225 SH   SOLE   260,225 0 0
Koninklijke Philips Electronic COM 500472303 1,090 36,836 SH   SOLE   36,836 0 0
Level 3 Communications COM 52729n308 423 9,131 SH   SOLE   9,131 0 0
Liberty Ventures Corp. COM 53071m880 209 5,249 SH   SOLE   5,249 0 0
Lockheed Martin Corp COM 539830109 982 4,095 SH   SOLE   4,095 0 0
Lowe's Companies, Inc. COM 548661107 578 8,000 SH   SOLE   8,000 0 0
Marriott International, Inc. C COM 571903202 206 3,057 SH   SOLE   3,057 0 0
Marsh & McLennan Companies, In COM 571748102 491 7,300 SH   SOLE   7,300 0 0
McDonald's Corp. COM 580135101 1,429 12,391 SH   SOLE   12,391 0 0
McKesson Corp. COM 58155Q103 457 2,738 SH   SOLE   2,738 0 0
Medtronic Inc. COM g5960L103 427 4,943 SH   SOLE   4,943 0 0
Merck & Co Inc New COM 58933Y105 395 6,325 SH   SOLE   6,325 0 0
Microsoft Corp COM 594918104 2,901 50,358 SH   SOLE   50,358 0 0
Monsanto Company COM 61166W101 446 4,360 SH   SOLE   4,360 0 0
Morgan Stanley COM 617446448 229 7,140 SH   SOLE   7,140 0 0
Movado Group Inc. COM 624580106 215 10,000 SH   SOLE   10,000 0 0
Newmont Mining Corp COM 651639106 367 9,350 SH   SOLE   9,350 0 0
Nike Inc Cl B COM 654106103 267 5,068 SH   SOLE   5,068 0 0
Nokia Corp (ADR) COM 654902204 243 42,053 SH   SOLE   42,053 0 0
Novartis AG (ADR) COM 66987V109 355 4,495 SH   SOLE   4,495 0 0
Oaktree Capital COM 674001201 614 14,475 SH   SOLE   14,475 0 0
Oracle Corp COM 68389X105 1,997 50,850 SH   SOLE   50,850 0 0
PNC Financial Services Group, COM 693475105 315 3,500 SH   SOLE   3,500 0 0
Paypal COM 70450y103 1,064 25,975 SH   SOLE   25,975 0 0
Pepsico, Inc. COM 713448108 576 5,295 SH   SOLE   5,295 0 0
Petroleo Brasileiro SA (ADR) COM 71654V408 195 20,900 SH   SOLE   20,900 0 0
Pfizer, Inc. COM 717081103 1,696 50,068 SH   SOLE   50,068 0 0
Philip Morris International In COM 718172109 615 6,328 SH   SOLE   6,328 0 0
Potash Corporation of Saskatch COM 73755L107 227 13,900 SH   SOLE   13,900 0 0
Procter & Gamble COM 742718109 1,988 22,151 SH   SOLE   22,151 0 0
Qualcomm Inc COM 747525103 597 8,718 SH   SOLE   8,718 0 0
SAP AG (ADR) COM 803054204 789 8,635 SH   SOLE   8,635 0 0
Sanofi Aventis (ADR) COM 80105N105 241 6,300 SH   SOLE   6,300 0 0
Schlumberger Ltd F COM 806857108 368 4,676 SH   SOLE   4,676 0 0
Sony Corp. (ADR) COM 835699307 1,195 35,997 SH   SOLE   35,997 0 0
State Street Corp COM 857477103 230 3,300 SH   SOLE   3,300 0 0
TE Connectivity Ltd. F COM h84989104 1,013 15,739 SH   SOLE   15,739 0 0
Telefonica SA (ADR) COM 879382208 585 58,012 SH   SOLE   58,012 0 0
Teva Pharmaceutical Industries COM 881624209 1,585 34,447 SH   SOLE   34,447 0 0
The Walt Disney Co. COM 254687106 1,510 16,263 SH   SOLE   16,263 0 0
Thermo Fisher Scientific COM 883556102 517 3,250 SH   SOLE   3,250 0 0
Time Warner, Inc. COM 887317303 1,622 20,379 SH   SOLE   20,379 0 0
Toyota Motor Corp. (ADR) COM 892331307 520 4,480 SH   SOLE   4,480 0 0
UBS Group CHF0.10 COM H42097107 850 62,375 SH   SOLE   62,375 0 0
United Technologies Corp COM 913017109 529 5,206 SH   SOLE   5,206 0 0
UnitedHealth Group, Inc. COM 91324P102 3,465 24,751 SH   SOLE   24,751 0 0
Vale S.A. American Depositary COM 91912e105 126 23,000 SH   SOLE   23,000 0 0
Verizon Communications COM 92343V104 582 11,201 SH   SOLE   11,201 0 0
Viacom Inc Cl B New COM 92553P201 586 15,371 SH   SOLE   15,371 0 0
Visa, Inc. Cl A COM 92826C839 370 4,473 SH   SOLE   4,473 0 0
Vishay Intertechnology COM 928298108 396 28,103 SH   SOLE   28,103 0 0
WPP Plc (ADR) COM 92937A102 312 2,650 SH   SOLE   2,650 0 0
Wal-Mart Stores Inc COM 931142103 603 8,367 SH   SOLE   8,367 0 0
Waste Management Inc. COM 94106L109 383 6,000 SH   SOLE   6,000 0 0
Wells Fargo & Co New COM 949746101 1,566 35,368 SH   SOLE   35,368 0 0
Yahoo! Inc. COM 984332106 612 14,190 SH   SOLE   14,190 0 0
Yum! Brands, Inc. COM 988498101 1,518 16,714 SH   SOLE   16,714 0 0
eBay, Inc. COM 278642103 855 25,975 SH   SOLE   25,975 0 0
Consumer Discret Sel Sect SPDR COM 81369Y407 352 4,393 SH   SOLE   4,393 0 0
DB X-Trackers MSCI Europe UCIT COM 233051853 698 12,750 SH   SOLE   12,750 0 0
Direxion Daily Financial Bull COM 25459y694 350 12,000 SH   SOLE   12,000 0 0
Energy Select Sector SPDR COM 81369Y506 2,202 31,180 SH   SOLE   31,180 0 0
Financial Select Sector SPDR COM 81369Y605 604 31,300 SH   SOLE   31,300 0 0
First Trust ISE-Revere Natural COM 33733e807 6,258 236,871 SH   SOLE   236,871 0 0
Global X Silver Miners ETF COM 37954y848 2,805 63,061 SH   SOLE   63,061 0 0
Health Care Sector Select SPDR COM 81369Y209 577 8,000 SH   SOLE   8,000 0 0
Industrial Select Sector SPDR COM 81369y704 1,473 25,225 SH   SOLE   25,225 0 0
Materials Select Sector SPDR E COM 81369Y100 1,185 24,815 SH   SOLE   24,815 0 0
Mexico Fund Inc COM 592835102 201 12,579 SH   SOLE   12,579 0 0
PowerShares Global Listed Priv COM 73935x195 309 28,500 SH   SOLE   28,500 0 0
PowerShares KBW Bank ETF COM 73937b746 10,492 287,607 SH   SOLE   287,607 0 0
PowerShares KBW Regional Banki COM 73937b712 1,266 29,050 SH   SOLE   29,050 0 0
PowerShares Water Resources COM 73935X575 349 14,200 SH   SOLE   14,200 0 0
Powershares QQQ Trust Series 1 COM 73935A104 13,411 112,967 SH   SOLE   112,967 0 0
ProShares Ultra Pro S&P500 COM 74347x864 442 6,000 SH   SOLE   6,000 0 0
SPDR DJ Euro Stoxx 50 ETF COM 78463x202 328 10,000 SH   SOLE   10,000 0 0
SPDR Dow Jones Global Real Est COM 78463x749 984 19,753 SH   SOLE   19,753 0 0
SPDR Dow Jones Industrial Aver COM 78467x109 988 5,405 SH   SOLE   5,405 0 0
SPDR KBW Bank ETF COM 78464A797 459 13,762 SH   SOLE   13,762 0 0
SPDR KBW Regional Banking ETF COM 78464A698 1,414 33,450 SH   SOLE   33,450 0 0
SPDR S&P 500 Index ETF COM 78462F103 1,695 7,836 SH   SOLE   7,836 0 0
SPDR S&P Global Natural Resour COM 78463X541 1,955 49,974 SH   SOLE   49,974 0 0
SPDR S&P Homebuilders ETF COM 78464a888 823 24,240 SH   SOLE   24,240 0 0
SPDR S&P Metals and Mining ETF COM 78464A755 452 17,050 SH   SOLE   17,050 0 0
SPDR S&P MidCap 400 ETF COM 78467Y107 356 1,260 SH   SOLE   1,260 0 0
SPDR S&P Oil & Gas Explor & Pr COM 78464A730 4,271 111,060 SH   SOLE   111,060 0 0
Schwab Emerging Markets Equity COM 808524706 409 17,740 SH   SOLE   17,740 0 0
Schwab Fundamental Intl. Large COM 808524755 328 13,025 SH   SOLE   13,025 0 0
Schwab Fundamental Intl. Small COM 808524748 252 8,590 SH   SOLE   8,590 0 0
Schwab Fundamental US Broad Mk COM 808524789 856 27,596 SH   SOLE   27,596 0 0
Schwab Fundamental US Small Co COM 808524763 209 6,705 SH   SOLE   6,705 0 0
Schwab International Equity ET COM 808524805 202 7,013 SH   SOLE   7,013 0 0
Schwab U.S. Broad Market ETF COM 808524102 477 9,112 SH   SOLE   9,112 0 0
Schwab US Large-Cap ETF COM 808524201 345 6,690 SH   SOLE   6,690 0 0
Swiss Helvetia Fund COM 870875101 128 11,929 SH   SOLE   11,929 0 0
Technology Select Sector SPDR COM 81369Y803 520 10,888 SH   SOLE   10,888 0 0
Vaneck Vectors Gold Miners ETF COM 92189f106 1,245 47,100 SH   SOLE   47,100 0 0
Vanguard Emerging Markets ETF COM 922042858 2,929 77,831 SH   SOLE   77,831 0 0
Vanguard European ETF COM 922042874 1,322 27,133 SH   SOLE   27,133 0 0
Vanguard Extended Market Index COM 922908652 3,189 34,945 SH   SOLE   34,945 0 0
Vanguard FTSE All World Ex-US COM 922042775 3,198 70,385 SH   SOLE   70,385 0 0
Vanguard FTSE All-World ex-US COM 922042718 309 3,100 SH   SOLE   3,100 0 0
Vanguard FTSE Developed Market COM 921943858 360 9,610 SH   SOLE   9,610 0 0
Vanguard Financials ETF COM 92204A405 4,759 96,421 SH   SOLE   96,421 0 0
Vanguard Global ex-US Real Est COM 922042676 334 5,950 SH   SOLE   5,950 0 0
Vanguard Growth ETF COM 922908736 980 8,725 SH   SOLE   8,725 0 0
Vanguard Health Care ETF COM 92204A504 246 1,850 SH   SOLE   1,850 0 0
Vanguard High Dividend Yield E COM 921946406 840 11,650 SH   SOLE   11,650 0 0
Vanguard Mega Cap 300 Index ET COM 921910873 4,524 61,338 SH   SOLE   61,338 0 0
Vanguard MegaCap 300 Value Ind COM 921910840 4,199 67,000 SH   SOLE   67,000 0 0
Vanguard MegaCap300 Growth Ind COM 921910816 6,786 77,570 SH   SOLE   77,570 0 0
Vanguard Mid-Cap ETF COM 922908629 7,518 58,078 SH   SOLE   58,078 0 0
Vanguard Mid-Cap Growth ETF COM 922908538 1,287 12,095 SH   SOLE   12,095 0 0
Vanguard Mid-Cap Value ETF COM 922908512 1,807 19,310 SH   SOLE   19,310 0 0
Vanguard REIT ETF COM 922908553 599 6,910 SH   SOLE   6,910 0 0
Vanguard S&P 500 ETF COM 922908363 219 1,100 SH   SOLE   1,100 0 0
Vanguard Small-Cap ETF COM 922908751 1,051 8,600 SH   SOLE   8,600 0 0
Vanguard Small-Cap Growth ETF COM 922908595 204 1,550 SH   SOLE   1,550 0 0
Vanguard Total International S COM 921909768 618 13,095 SH   SOLE   13,095 0 0
Vanguard Total Stock Mkt COM 922908769 1,969 17,690 SH   SOLE   17,690 0 0
Vanguard Total World Stock ETF COM 922042742 330 5,419 SH   SOLE   5,419 0 0
Vanguard Value ETF COM 922908744 1,397 16,052 SH   SOLE   16,052 0 0
WisdomTree Dividend Ex-Financi COM 97717W406 310 3,945 SH   SOLE   3,945 0 0
WisdomTree Equity Income ETF COM 97717W208 283 4,250 SH   SOLE   4,250 0 0
WisdomTree Mid-Cap Dividend Fu COM 97717w505 227 2,500 SH   SOLE   2,500 0 0
iShares Core EAFE COM 46432F842 308 5,580 SH   SOLE   5,580 0 0
iShares Core MSCI Emerging Mkt COM 46434g103 326 7,146 SH   SOLE   7,146 0 0
iShares Core S&P Midcap ETF COM 464287507 991 6,406 SH   SOLE   6,406 0 0
iShares DJ US Home Constructio COM 464288752 6,106 221,651 SH   SOLE   221,651 0 0
iShares Dow Jones U.S. Technol COM 464287721 311 2,615 SH   SOLE   2,615 0 0
iShares MSCI Brazil Index ETF COM 464286400 4,404 130,560 SH   SOLE   130,560 0 0
iShares MSCI EAFE Value Index COM 464288877 1,345 29,130 SH   SOLE   29,130 0 0
iShares MSCI EM-ACC COM G4954M433 264 9,500 SH   SOLE   9,500 0 0
iShares MSCI EMU Index Fund ET COM 464286608 1,486 43,090 SH   SOLE   43,090 0 0
iShares MSCI Emerging Markets COM 464287234 826 22,050 SH   SOLE   22,050 0 0
iShares MSCI Japan Index ETF COM 464286848 925 73,750 SH   SOLE   73,750 0 0
iShares Russell 1000 Growth In COM 464287614 1,379 13,234 SH   SOLE   13,234 0 0
iShares Russell 1000 Value Ind COM 464287598 1,965 18,600 SH   SOLE   18,600 0 0
iShares Russell 2000 Index ETF COM 464287655 283 2,280 SH   SOLE   2,280 0 0
iShares Russell 2000 Value Ind COM 464287630 416 3,975 SH   SOLE   3,975 0 0
iShares Russell 3000 Index Fun COM 464287689 375 2,925 SH   SOLE   2,925 0 0
iShares Russell Midcap Growth COM 464287481 261 2,680 SH   SOLE   2,680 0 0
iShares Russell Midcap Value I COM 464287473 491 6,400 SH   SOLE   6,400 0 0
iShares S&P 100 Index ETF COM 464287101 928 9,673 SH   SOLE   9,673 0 0
iShares S&P Euro 350 Index Fun COM 464287861 343 8,700 SH   SOLE   8,700 0 0
iShares S&P Global Technology COM 464287291 6,097 55,075 SH   SOLE   55,075 0 0
iShares S&P SmallCap 600 Index COM 464287804 284 2,286 SH   SOLE   2,286 0 0