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 CO COM 88579Y101 263 1,940 SH   SOLE   1,940 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 19,218 384,275 SH   SOLE   384,275 0 0
APPLE INC COM 037833100 20,253 37,834 SH   SOLE   37,834 0 0
AT&T INC COM 00206R102 416 11,875 SH   SOLE   11,875 0 0
BANK HAWAII CORP COM 062540109 200 3,300 SH   SOLE   3,300 0 0
BANK NEW YORK MELLON CORP COM 064058100 28,937 819,989 SH   SOLE   819,989 0 0
BANK OF AMERICA CORPORATION COM 060505104 29,400 1,709,315 SH   SOLE   1,709,315 0 0
BARD C R INC COM 067383109 14,202 95,975 SH   SOLE   95,975 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 29,727 237,870 SH   SOLE   237,870 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 259 9,000 SH   SOLE   9,000 0 0
BP PLC SPONSORED ADR 055622104 383 7,972 SH   SOLE   7,972 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 234 4,500 SH   SOLE   4,500 0 0
CHEVRON CORP NEW COM 166764100 1,566 13,262 SH   SOLE   13,262 0 0
CHUBB CORP COM 171232101 750 8,400 SH   SOLE   8,400 0 0
CISCO SYS INC COM 17275R102 18,538 827,023 SH   SOLE   827,023 0 0
CITIGROUP INC COM NEW 172967101 19,347 406,442 SH   SOLE   406,442 0 0
COCA COLA CO COM 191216100 19,488 504,088 SH   SOLE   504,088 0 0
CONOCOPHILLIPS COM 20825C104 218 3,100 SH   SOLE   3,100 0 0
DEVON ENERGY CORP NEW COM 25179M103 23,505 351,391 SH   SOLE   351,391 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 16,135 129,502 SH   SOLE   129,502 0 0
DISNEY WALT CO COM DISNEY 254687106 202 2,519 SH   SOLE   2,519 0 0
DORCHESTER MINERALS LP COM UNIT 25820R105 270 10,306 SH   SOLE   10,306 0 0
EBAY INC COM 278642103 19,112 345,975 SH   SOLE   345,975 0 0
EMERSON ELEC CO COM 291011104 434 6,663 SH   SOLE   6,663 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 326 4,700 SH   SOLE   4,700 0 0
EOG RES INC COM 26875P101 589 3,145 SH   SOLE   3,145 0 0
ESSEX PPTY TR INC COM 297178105 468 2,750 SH   SOLE   2,750 0 0
EXELON CORP COM 30161N101 214 6,365 SH   SOLE   6,365 0 0
EXXON MOBIL CORP COM 30231G102 14,846 151,982 SH   SOLE   151,982 0 0
FEDEX CORP COM 31428X106 14,537 109,663 SH   SOLE   109,663 0 0
FISERV INC COM 337738108 21,630 381,555 SH   SOLE   381,555 0 0
GENERAL ELECTRIC CO COM 369604103 27,143 1,048,384 SH   SOLE   1,048,384 0 0
GENERAL MTRS CO COM 37045V100 19,480 565,957 SH   SOLE   565,957 0 0
GOOGLE INC CL A 38259P508 23,637 21,228 SH   SOLE   21,228 0 0
HANESBRANDS INC COM 410345102 523 6,836 SH   SOLE   6,836 0 0
HOME DEPOT INC COM 437076102 566 7,295 SH   SOLE   7,295 0 0
HOSPIRA INC COM 441060100 13,855 320,350 SH   SOLE   320,350 0 0
INTEL CORP COM 458140100 20,634 799,335 SH   SOLE   799,335 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 500 2,600 SH   SOLE   2,600 0 0
ISHARES 1-3 YR CR BD ETF 464288646 39,754 376,887 SH   SOLE   376,887 0 0
ISHARES CORE TOTUSBD ETF 464287226 27,280 252,800 SH   SOLE   252,800 0 0
ISHARES IBOXX INV CP ETF 464287242 18,477 158,004 SH   SOLE   158,004 0 0
ISHARES TIPS BD ETF 464287176 34,192 305,012 SH   SOLE   305,012 0 0
JOHNSON & JOHNSON COM 478160104 22,060 224,570 SH   SOLE   224,570 0 0
LILLY ELI & CO COM 532457108 285 4,836 SH   SOLE   4,836 0 0
LOWES COS INC COM 548661107 406 8,300 SH   SOLE   8,300 0 0
MEDLEY CAP CORP COM 58503F106 158 11,600 SH   SOLE   11,600 0 0
MEDTRONIC INC COM 585055106 415 6,750 SH   SOLE   6,750 0 0
MICROSOFT CORP COM 594918104 28,864 704,647 SH   SOLE   704,647 0 0
NATIONAL OILWELL VARCO INC COM 637071101 22,939 294,575 SH   SOLE   294,575 0 0
NEXTERA ENERGY INC COM 65339F101 210 2,200 SH   SOLE   2,200 0 0
NORTHROP GRUMMAN CORP COM 666807102 16,046 130,050 SH   SOLE   130,050 0 0
PARKER HANNIFIN CORP COM 701094104 14,389 120,195 SH   SOLE   120,195 0 0
PAYCHEX INC COM 704326107 281 6,600 SH   SOLE   6,600 0 0
PEPSICO INC COM 713448108 19,265 230,720 SH   SOLE   230,720 0 0
PROCTER & GAMBLE CO COM 742718109 851 10,564 SH   SOLE   10,564 0 0
QUALCOMM INC COM 747525103 20,502 259,980 SH   SOLE   259,980 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 219 3,000 SH   SOLE   3,000 0 0
SCHLUMBERGER LTD COM 806857108 351 3,600 SH   SOLE   3,600 0 0
SIMON PPTY GROUP INC NEW COM 828806109 475 2,895 SH   SOLE   2,895 0 0
SOUTHERN CO COM 842587107 591 13,450 SH   SOLE   13,450 0 0
SYSCO CORP COM 871829107 340 9,410 SH   SOLE   9,410 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 23,053 436,273 SH   SOLE   436,273 0 0
UNILEVER N V N Y SHS NEW 904784709 262 6,375 SH   SOLE   6,375 0 0
UNION PAC CORP COM 907818108 727 3,875 SH   SOLE   3,875 0 0
UNITED PARCEL SERVICE INC CL B 911312106 11,860 121,923 SH   SOLE   121,923 0 0
UNITED TECHNOLOGIES CORP COM 913017109 10,412 89,110 SH   SOLE   89,110 0 0
US BANCORP DEL COM NEW 902973304 18,127 422,942 SH   SOLE   422,942 0 0
VENTAS INC COM 92276F100 219 3,618 SH   SOLE   3,618 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 319 7,015 SH   SOLE   7,015 0 0
WAL-MART STORES INC COM 931142103 206 2,700 SH   SOLE   2,700 0 0
WELLS FARGO & CO NEW COM 949746101 19,398 389,987 SH   SOLE   389,987 0 0