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
AbbVie Inc. COM 00287Y109 1,062 20,657 SH   SOLE   20,057 0 600
Abbott Laboratories Co. COM 002824100 839 21,777 SH   SOLE   21,177 0 600
Anadarko Petroleum COM 032511107 3,756 44,317 SH   SOLE   44,317 0 0
Apache Corporation COM 037411105 4,296 51,787 SH   SOLE   51,237 0 550
Apple Inc. COM 037833100 958 1,784 SH   SOLE   1,744 0 40
B B & T Corporation COM 054937107 11,076 275,718 SH   SOLE   274,618 0 1,100
BHP Billiton Ltd. Sponsr ADR COM 088606108 441 6,500 SH   SOLE   6,500 0 0
BHP Billiton PLC ADR COM 05545E209 1,354 21,930 SH   SOLE   21,805 0 125
BP PLC COM 055622104 933 19,397 SH   SOLE   19,397 0 0
Bank of America Corporation COM 060505104 937 54,496 SH   SOLE   54,496 0 0
Berkshire Hathaway Inc. Class COM 084670108 562 3 SH   SOLE   3 0 0
Bolt Technology COM 097698104 1,281 64,800 SH   SOLE   64,800 0 0
CF Industries Holdings Inc. COM 125269100 2,243 8,605 SH   SOLE   8,505 0 100
Caterpillar Inc. COM 149123101 1,594 16,040 SH   SOLE   16,040 0 0
Cenovus Energy Inc. COM 15135U109 895 30,910 SH   SOLE   30,910 0 0
Chesapeake Energy Corp. COM 165167107 811 31,670 SH   SOLE   31,670 0 0
Chevron Corporation COM 166764100 4,606 38,738 SH   SOLE   38,538 0 200
Cliffs Natural Resources Inc. COM 18683K101 207 10,100 SH   SOLE   9,900 0 200
Computer Sciences Corp. COM 205363104 374 6,156 SH   SOLE   6,156 0 0
ConocoPhillips COM 20825C104 5,607 79,708 SH   SOLE   79,064 0 644
Darden Restaurants Inc. COM 237194105 978 19,261 SH   SOLE   19,261 0 0
Duke Energy Corp. COM 26441C204 667 9,362 SH   SOLE   9,362 0 0
Encana Corporation COM 292505104 633 29,610 SH   SOLE   29,610 0 0
Ensco PLC COM G3157S106 1,787 33,855 SH   SOLE   33,855 0 0
Exxon Mobil Corp. COM 30231G102 1,998 20,450 SH   SOLE   20,450 0 0
Federal Realty Trust COM 313747206 585 5,100 SH   SOLE   5,100 0 0
Freeport-McMoRan Copper & Gold COM 35671D857 3,671 110,994 SH   SOLE   110,076 0 918
General Electric Co. COM 369604103 970 37,451 SH   SOLE   37,451 0 0
General Mills Inc. COM 370334104 15,784 304,585 SH   SOLE   304,435 0 150
Hewlett Packard Co. COM 428236103 3,380 104,460 SH   SOLE   104,460 0 0
International Business Machine COM 459200101 9,580 49,768 SH   SOLE   49,528 0 240
John Deere & Co. COM 244199105 1,936 21,320 SH   SOLE   21,020 0 300
Johnson & Johnson COM 478160104 2,442 24,855 SH   SOLE   24,575 0 280
Laboratory Corp. of America Ho COM 50540R409 215 2,190 SH   SOLE   2,190 0 0
MDU Resources COM 552690109 3,534 102,992 SH   SOLE   102,642 0 350
McDonalds Corporation COM 580135101 1,782 18,175 SH   SOLE   18,175 0 0
Merck & Company Inc. New COM 58933Y105 1,731 30,483 SH   SOLE   30,483 0 0
Microsoft Corp. COM 594918104 711 17,337 SH   SOLE   16,937 0 400
NVR Inc. COM 62944T105 2,260 1,970 SH   SOLE   1,970 0 0
Nabors Industries Ltd. COM G6359F103 671 27,225 SH   SOLE   27,225 0 0
National Oil Well Varco Inc. COM 637071101 2,769 35,559 SH   SOLE   35,159 0 400
NextEra Energy Inc. COM 65339F101 1,852 19,367 SH   SOLE   19,367 0 0
Noble Corp. PLC COM G65431101 255 7,800 SH   SOLE   7,800 0 0
PNC Financial Services Group I COM 693475105 285 3,273 SH   SOLE   3,273 0 0
Pfizer Inc. COM 717081103 611 19,021 SH   SOLE   19,021 0 0
Phillips 66 COM 718546104 2,910 37,762 SH   SOLE   37,440 0 322
Plum Creek Timber Co. Inc. COM 729251108 932 22,165 SH   SOLE   22,165 0 0
Potash Corp. of Saskatchewan I COM 73755L107 420 11,590 SH   SOLE   11,040 0 550
Quest Diagnostics COM 74834L100 733 12,650 SH   SOLE   12,650 0 0
Rayonier Incorporated COM 754907103 3,004 65,423 SH   SOLE   65,423 0 0
Raytheon Company COM 755111507 405 4,100 SH   SOLE   4,100 0 0
Regions Financial Corp. New COM 7591EP100 306 27,540 SH   SOLE   27,540 0 0
Ryland Group Inc. COM 783764103 857 21,470 SH   SOLE   21,470 0 0
Schlumberger Ltd. COM 806857108 1,230 12,620 SH   SOLE   12,620 0 0
Spectra Energy Corp. COM 847560109 822 22,254 SH   SOLE   22,254 0 0
Suncor Energy Inc. New COM 867224107 552 15,800 SH   SOLE   15,800 0 0
Transocean Ltd. COM H8817H100 666 16,105 SH   SOLE   16,105 0 0
VSE Corporation COM 918284100 1,032 19,581 SH   SOLE   19,581 0 0
Valero Energy Corp. COM 91913Y100 605 11,400 SH   SOLE   11,400 0 0
Wal-Mart Stores Inc. COM 931142103 935 12,238 SH   SOLE   12,088 0 150
Washington REIT SBI COM 939653101 860 36,005 SH   SOLE   36,005 0 0
Weyerhaeuser Company COM 962166104 817 27,837 SH   SOLE   27,837 0 0
YUM! Brands Inc. COM 988498101 222 2,945 SH   SOLE   2,945 0 0
Central Europe, Russia & Turke CFND 153436100 934 35,560 SH   SOLE   35,560 0 0