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 Corp. CS 88579Y101 1,189 6,658 SH   SOLE   6,658 0 0
A T & T CS 00206R102 1,116 26,236 SH   SOLE   26,236 0 0
AECOM Technology Corp CS 00766t100 429 11,800 SH   SOLE   11,800 0 0
AbbVie Inc. CS 00287y109 548 8,758 SH   SOLE   8,758 0 0
Abbott Labs CS 002824100 1,123 29,227 SH   SOLE   29,227 0 0
Air Prod.& Chem. CS 009158106 489 3,400 SH   SOLE   3,400 0 0
Akamai Technologies CS 00971t101 639 9,580 SH   SOLE   9,580 0 0
Alaska Air CS 011659109 366 4,125 SH   SOLE   4,125 0 0
Allergan CS g0177j108 446 2,125 SH   SOLE   2,125 0 0
AllianceBernstein Holdings CS 01881G106 1,632 69,588 SH   SOLE   69,588 0 0
Alphabet Inc Class A CS 02079k305 218 275 SH   SOLE   275 0 0
Alphabet Inc Class C CS 02079k107 567 735 SH   SOLE   735 0 0
Altria Group CS 02209S103 515 7,612 SH   SOLE   7,612 0 0
American Airlines Group Inc. CS 02376r102 821 17,575 SH   SOLE   17,575 0 0
American Campus Communities CS 024835100 236 4,750 SH   SOLE   4,750 0 0
American States Water CS 029899101 241 5,300 SH   SOLE   5,300 0 0
Amgen CS 031162100 872 5,965 SH   SOLE   5,965 0 0
Antero Resources CS 03674x106 399 16,850 SH   SOLE   16,850 0 0
Apple Computer CS 037833100 1,351 11,665 SH   SOLE   11,665 0 0
Astrazeneca CS 046353108 521 19,065 SH   SOLE   19,065 0 0
Avnet CS 053807103 976 20,500 SH   SOLE   20,500 0 0
Axalta Coating Systems CS g0750c108 358 13,150 SH   SOLE   13,150 0 0
BB&T CS 054937107 1,819 38,690 SH   SOLE   38,690 0 0
Bank of Nova Scotia CS 064149107 313 5,625 SH   SOLE   5,625 0 0
Belden Inc. CS 077454106 378 5,050 SH   SOLE   5,050 0 0
Berkshire Hathaway B CS 084670702 1,006 6,173 SH   SOLE   6,173 0 0
Boeing CS 097023105 1,059 6,800 SH   SOLE   6,800 0 0
Boston Scientific CS 101137107 250 11,550 SH   SOLE   11,550 0 0
Bristol Myers Squibb CS 110122108 1,520 26,017 SH   SOLE   26,017 0 0
Brookfield Asset Management CS 112585104 348 10,550 SH   SOLE   10,550 0 0
C.V.S. Caremark CS 126650100 1,111 14,080 SH   SOLE   14,080 0 0
CSX Corp CS 126408103 1,689 47,013 SH   SOLE   47,013 0 0
Canadian Pacific CS 13645T100 548 3,840 SH   SOLE   3,840 0 0
Capital One Finl. CS 14040H105 467 5,350 SH   SOLE   5,350 0 0
Carnival Corp.-Cl A CS 143658300 489 9,400 SH   SOLE   9,400 0 0
Cavium CS 14964u108 200 3,286 SH   SOLE   3,286 0 0
Celgene CS 151020104 1,305 11,275 SH   SOLE   11,275 0 0
Century Bancorp CS 156432106 283 4,709 SH   SOLE   4,709 0 0
Chevron Corporation CS 166764100 203 1,725 SH   SOLE   1,725 0 0
Church and Dwight CS 171340102 4,932 111,600 SH   SOLE   111,600 0 0
Cisco Systems CS 17275R102 1,704 56,400 SH   SOLE   56,400 0 0
Citigroup CS 172967424 354 5,962 SH   SOLE   5,962 0 0
Citizens Financial Group CS 174610105 351 9,850 SH   SOLE   9,850 0 0
Clorox Company CS 189054109 840 7,000 SH   SOLE   7,000 0 0
Coca-Cola CS 191216100 525 12,673 SH   SOLE   12,673 0 0
Colgate-Palmolive CS 194162103 209 3,200 SH   SOLE   3,200 0 0
Costco Wholesale CS 22160K105 745 4,650 SH   SOLE   4,650 0 0
Cullen/Frost Bankers CS 229899109 453 5,135 SH   SOLE   5,135 0 0
Cynosure CS 232577205 914 20,033 SH   SOLE   20,033 0 0
DaVita Inc. CS 23918k108 260 4,050 SH   SOLE   4,050 0 0
Darden Restaurants CS 237194105 927 12,750 SH   SOLE   12,750 0 0
Delta Airlines CS 247361702 357 7,250 SH   SOLE   7,250 0 0
Diamond Offshore Drilling CS 25271c102 224 12,650 SH   SOLE   12,650 0 0
Discovery Communications CS 25470f104 311 11,350 SH   SOLE   11,350 0 0
Eli Lilly CS 532457108 400 5,440 SH   SOLE   5,440 0 0
Emerson Electric CS 291011104 1,037 18,595 SH   SOLE   18,595 0 0
Enterprise Products Partners L CS 293792107 732 27,080 SH   SOLE   27,080 0 0
Envision Healthcare CS 29414d100 519 8,200 SH   SOLE   8,200 0 0
Estee Lauder CS 518439104 977 12,775 SH   SOLE   12,775 0 0
Exxon Mobil CS 30231G102 2,744 30,398 SH   SOLE   30,398 0 0
FedEx CS 31428X106 894 4,800 SH   SOLE   4,800 0 0
First Republic Preferred C CS 33616c605 449 19,325 SH   SOLE   19,325 0 0
Fluor CS 343412102 646 12,300 SH   SOLE   12,300 0 0
Fortinet CS 34959e109 287 9,525 SH   SOLE   9,525 0 0
Fortune Brands & Home Security CS 34964c106 585 10,950 SH   SOLE   10,950 0 0
General Dynamics CS 369550108 242 1,401 SH   SOLE   1,401 0 0
General Electric CS 369604103 3,315 104,911 SH   SOLE   104,911 0 0
General Motors CS 37045v100 406 11,645 SH   SOLE   11,645 0 0
Gilead Sciences CS 375558103 1,347 18,815 SH   SOLE   18,815 0 0
GlaxoSmithKline CS 37733W105 399 10,350 SH   SOLE   10,350 0 0
HSBC Holdings Pfd A CS 404280604 261 10,350 SH   SOLE   10,350 0 0
Halyard Health CS 40650v100 488 13,207 SH   SOLE   13,207 0 0
Hanesbrands, Inc. CS 410345102 286 13,244 SH   SOLE   13,244 0 0
Headwaters Inc CS 42210p102 1,178 50,106 SH   SOLE   50,106 0 0
Hess Corporation CS 42809h107 249 4,000 SH   SOLE   4,000 0 0
Home Depot CS 437076102 399 2,973 SH   SOLE   2,973 0 0
Honeywell Int'l. CS 438516106 931 8,037 SH   SOLE   8,037 0 0
Hormel Foods Corp CS 440452100 536 15,400 SH   SOLE   15,400 0 0
Independent Bank CS 453836108 1,364 19,365 SH   SOLE   19,365 0 0
Ingersoll-Rand CS g47791101 852 11,350 SH   SOLE   11,350 0 0
Ingredion CS 457187102 369 2,950 SH   SOLE   2,950 0 0
Installed Building Products In CS 45780r101 384 9,300 SH   SOLE   9,300 0 0
Int'l Bus. Mach. CS 459200101 912 5,494 SH   SOLE   5,494 0 0
Intel CS 458140100 1,891 52,138 SH   SOLE   52,138 0 0
Johnson & Johnson CS 478160104 3,899 33,843 SH   SOLE   33,843 0 0
Kansas City So. CS 485170302 244 2,875 SH   SOLE   2,875 0 0
Kellogg CS 487836108 970 13,160 SH   SOLE   13,160 0 0
KeyCorp CS 493267108 211 11,545 SH   SOLE   11,545 0 0
Kimberly Clark CS 494368103 2,777 24,338 SH   SOLE   24,338 0 0
Kinder Morgan Inc CS 49456b101 564 27,238 SH   SOLE   27,238 0 0
L Brands Inc CS 501797104 224 3,400 SH   SOLE   3,400 0 0
Lennar CS 526057104 514 11,970 SH   SOLE   11,970 0 0
Lowes CS 548661107 473 6,650 SH   SOLE   6,650 0 0
M.D.C. Holdings, Inc. CS 552676108 217 8,457 SH   SOLE   8,457 0 0
Marathon Oil CS 565849106 272 15,700 SH   SOLE   15,700 0 0
MaxLinear, Inc. CS 57776j100 516 23,650 SH   SOLE   23,650 0 0
McDonald's CS 580135101 1,241 10,194 SH   SOLE   10,194 0 0
Merck CS 58933y105 825 14,010 SH   SOLE   14,010 0 0
MetLife CS 59156R108 843 15,650 SH   SOLE   15,650 0 0
Microsoft CS 594918104 926 14,902 SH   SOLE   14,902 0 0
Mohawk Industries CS 608190104 619 3,100 SH   SOLE   3,100 0 0
Mondelez International CS 609207105 368 8,310 SH   SOLE   8,310 0 0
Morgan Stanley CS 617446448 936 22,164 SH   SOLE   22,164 0 0
Mylan Labs CS n59465109 313 8,200 SH   SOLE   8,200 0 0
New York Community Bancorp CS 649445103 255 16,000 SH   SOLE   16,000 0 0
Nike Inc Class B CS 654106103 1,153 22,677 SH   SOLE   22,677 0 0
Nordstrom CS 655664100 658 13,725 SH   SOLE   13,725 0 0
Norfolk Southern CS 655844108 438 4,050 SH   SOLE   4,050 0 0
Northrop Grumman CS 666807102 320 1,375 SH   SOLE   1,375 0 0
Novartis AG ADS CS 66987V109 749 10,280 SH   SOLE   10,280 0 0
Novo Nordisk CS 670100205 207 5,775 SH   SOLE   5,775 0 0
PPG Industries CS 693506107 940 9,925 SH   SOLE   9,925 0 0
Palo Alto Networks CS 697435105 563 4,504 SH   SOLE   4,504 0 0
Parexel International Corp CS 699462107 508 7,725 SH   SOLE   7,725 0 0
Patterson Companies CS 703395103 626 15,268 SH   SOLE   15,268 0 0
PayPal CS 70450y103 957 24,250 SH   SOLE   24,250 0 0
Pentair CS g7s00t104 1,587 28,300 SH   SOLE   28,300 0 0
Pepsico CS 713448108 754 7,204 SH   SOLE   7,204 0 0
Pfizer CS 717081103 1,927 59,342 SH   SOLE   59,342 0 0
Phillips 66 CS 718546104 475 5,500 SH   SOLE   5,500 0 0
Plains All American Pipeline L CS 726503105 370 11,450 SH   SOLE   11,450 0 0
Potash Saskatchewan CS 73755L107 453 25,050 SH   SOLE   25,050 0 0
Praxair CS 74005P104 267 2,275 SH   SOLE   2,275 0 0
Procter & Gamble CS 742718109 847 10,076 SH   SOLE   10,076 0 0
Prosperity Bancshares, Inc. CS 743606105 1,516 21,125 SH   SOLE   21,125 0 0
QEP Resources CS 74733v100 346 18,800 SH   SOLE   18,800 0 0
Radian CS 750236101 312 17,350 SH   SOLE   17,350 0 0
Regeneron Pharmaceuticals CS 75886f107 268 730 SH   SOLE   730 0 0
Restaurant Brands Int'l CS 76131d103 418 8,761 SH   SOLE   8,761 0 0
Roche Holdings Ltd CS 771195104 438 15,350 SH   SOLE   15,350 0 0
Rollins CS 775711104 260 7,700 SH   SOLE   7,700 0 0
Salesforce.com CS 79466l302 431 6,300 SH   SOLE   6,300 0 0
Schlumberger CS 806857108 945 11,252 SH   SOLE   11,252 0 0
Skyworks Solutions Inc CS 83088M102 724 9,700 SH   SOLE   9,700 0 0
Spirit Airlines CS 848577102 427 7,375 SH   SOLE   7,375 0 0
Starbucks CS 855244109 433 7,800 SH   SOLE   7,800 0 0
State Street Preferred C CS 857477509 264 11,300 SH   SOLE   11,300 0 0
Synaptics CS 87157d109 415 7,754 SH   SOLE   7,754 0 0
Sysco Corp CS 871829107 524 9,470 SH   SOLE   9,470 0 0
Target CS 87612E106 711 9,850 SH   SOLE   9,850 0 0
The FRS Company CS aci076053 0 114,324 SH   SOLE   114,324 0 0
The Gap Inc. CS 364760108 387 17,225 SH   SOLE   17,225 0 0
Toll Brothers CS 889478103 1,247 40,225 SH   SOLE   40,225 0 0
Toronto-Dominion Bank CS 891160509 257 5,200 SH   SOLE   5,200 0 0
Trinity Industries CS 896522109 268 9,665 SH   SOLE   9,665 0 0
UPS CS 911312106 751 6,550 SH   SOLE   6,550 0 0
Under Armour Class A CS 904311107 235 8,105 SH   SOLE   8,105 0 0
Union Pacific CS 907818108 732 7,063 SH   SOLE   7,063 0 0
United Continental Holdings CS 910047109 255 3,500 SH   SOLE   3,500 0 0
United Rentals, Inc. CS 911363109 1,101 10,430 SH   SOLE   10,430 0 0
United Technologies CS 913017109 764 6,970 SH   SOLE   6,970 0 0
VCA Inc CS 918194101 275 4,000 SH   SOLE   4,000 0 0
Valero CS 91913Y100 1,547 22,650 SH   SOLE   22,650 0 0
Verizon Comm. CS 92343V104 266 4,978 SH   SOLE   4,978 0 0
ViaSat, Inc. CS 92552v100 510 7,700 SH   SOLE   7,700 0 0
Vulcan Materials CS 929160109 389 3,108 SH   SOLE   3,108 0 0
W.P. Carey & Co. CS 92936u109 510 8,634 SH   SOLE   8,634 0 0
Wal-Mart Stores CS 931142103 635 9,187 SH   SOLE   9,187 0 0
Walt Disney CS 254687106 1,806 17,325 SH   SOLE   17,325 0 0
Washington Trust CS 940610108 3,783 67,493 SH   SOLE   67,493 0 0
Waste Management Inc. CS 94106l109 273 3,850 SH   SOLE   3,850 0 0
Wells Fargo CS 949746101 2,211 40,117 SH   SOLE   40,117 0 0
WhiteWave Foods CS 966244105 245 4,400 SH   SOLE   4,400 0 0
Whole Foods CS 966837106 364 11,836 SH   SOLE   11,836 0 0
WisdomTree Financial CS 97717p104 385 34,550 SH   SOLE   34,550 0 0
World Fuel Services CS 981475106 248 5,400 SH   SOLE   5,400 0 0
Wyndham Worldwide CS 98310w108 1,283 16,800 SH   SOLE   16,800 0 0
Zoetis Inc CS 98978v103 1,003 18,745 SH   SOLE   18,745 0 0