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
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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
Gilead Sciences, Inc. COMMON STOCK 375558103 34,202,114 506,248 SH   SOLE 0.00 489,623 0 16,625
Johnson & Johnson COMMON STOCK 478160104 33,465,084 240,272 SH   SOLE 0.00 232,362 0 7,910
Medtronic Inc. COMMON STOCK G5960L103 33,886,655 347,948 SH   SOLE 0.00 336,570 0 11,378
UnitedHealth Group, Inc. COMMON STOCK 91324P102 33,261,491 136,312 SH   SOLE 0.00 131,864 0 4,448
Amazon.Com, Inc. COMMON STOCK 023135106 33,333,568 17,603 SH   SOLE 0.00 17,015 0 588
Starbucks Corp COMMON STOCK 855244109 17,365,384 207,150 SH   SOLE 0.00 200,402 0 6,748
TJX Companies COMMON STOCK 872540109 17,258,604 326,373 SH   SOLE 0.00 315,728 0 10,645
Coca-Cola Company COMMON STOCK 191216100 33,688,570 661,598 SH   SOLE 0.00 640,025 0 21,573
Mondelez International Inc COMMON STOCK 609207105 33,726,523 625,724 SH   SOLE 0.00 605,259 0 20,465
Procter & Gamble Co COMMON STOCK 742718109 34,270,997 312,549 SH   SOLE 0.00 302,385 0 10,164
Walmart Inc. COMMON STOCK 931142103 34,589,888 313,059 SH   SOLE 0.00 303,169 0 9,890
Apple, Inc. COMMON STOCK 037833100 34,466,382 174,143 SH   SOLE 0.00 168,460 0 5,683
Cisco Systems, Inc. COMMON STOCK 17275R102 32,724,599 597,928 SH   SOLE 0.00 578,548 0 19,380
Mastercard Inc. COMMON STOCK 57636Q104 33,865,395 128,021 SH   SOLE 0.00 123,801 0 4,220
Microsoft Corp COMMON STOCK 594918104 34,248,213 255,660 SH   SOLE 0.00 247,259 0 8,401
PayPal Holdings, Inc. COMMON STOCK 70450Y103 33,613,124 293,667 SH   SOLE 0.00 283,972 0 9,695
AT&T, Inc. COMMON STOCK 00206R102 35,120,390 1,048,057 SH   SOLE 0.00 1,013,677 0 34,380
Alphabet Inc. Class A COMMON STOCK 02079K305 33,374,061 30,822 SH   SOLE 0.00 29,813 0 1,009
Comcast Corp. Cl.A COMMON STOCK 20030N101 33,726,502 797,694 SH   SOLE 0.00 770,889 0 26,805
Disney, Walt Co. COMMON STOCK 254687106 33,967,988 243,254 SH   SOLE 0.00 235,113 0 8,141
Duke Energy Corp New COMMON STOCK 26441c204 34,170,057 387,240 SH   SOLE 0.00 374,394 0 12,846
Communication Services Sel Sect SPDR Fd COMMON STOCK 81369Y852 37,766,702 767,304 SH   SOLE 0.00 747,766 0 19,538
Consumer Discretionary Select Sect SPDR Fd COMMON STOCK 81369y407 26,093,952 218,909 SH   SOLE 0.00 213,297 0 5,612
Consumer Staples Select Sector SPDR Fund COMMON STOCK 81369Y308 51,187,020 881,471 SH   SOLE 0.00 858,921 0 22,550
Global X MLP ETF COMMON STOCK 37950E473 32,977 3,739 SH   SOLE 0.00 3,739 0 0
Health Care Select Sector SPDR Fund COMMON STOCK 81369y209 49,609,646 535,510 SH   SOLE 0.00 521,879 0 13,631
IPath Bbg Commodity ETN COMMON STOCK 06738c778 42,634 1,917 SH   SOLE 0.00 1,917 0 0
IShares Barclays 20 plus Yr Trs Bd COMMON STOCK 464287432 11,582,492 87,211 SH   SOLE 0.00 84,021 0 3,190
SPDR Barclays High Yield Bond ETF COMMON STOCK 78468R622 4,466 41 SH   SOLE 0.00 41 0 0
SPDR Gold MiniSharesTrust COMMON STOCK 98149E204 45,186 3,207 SH   SOLE 0.00 3,207 0 0
SPDR Interm Term Corp B COMMON STOCK 78464A375 3,912 112 SH   SOLE 0.00 112 0 0
SPDR Portfolio Short Term Corp. Bd. ETF COMMON STOCK 78464A474 23,607,675 766,981 SH   SOLE 0.00 738,966 0 28,015
SPDR S&P 500 ETF Trust COMMON STOCK 78462F103 1,862,601 6,357 SH   SOLE 0.00 6,357 0 0
Technology Select Sector SPDR Fund COMMON STOCK 81369y803 75,166,645 963,181 SH   SOLE 0.00 938,661 0 24,520
Utilities Select Sector SPDR Fund COMMON STOCK 81369Y886 12,402,324 207,988 SH   SOLE 0.00 202,676 0 5,312
Vanguard FTSE All-World ex-US ETF COMMON STOCK 922042775 87,032,179 1,706,848 SH   SOLE 0.00 1,664,307 0 42,541
Vanguard FTSE Pacific ETF COMMON STOCK 922042866 18,821,632 284,831 SH   SOLE 0.00 277,759 0 7,072
Vanguard Intermediate Term Corp Bond COMMON STOCK 92206c870 11,531,618 128,343 SH   SOLE 0.00 123,645 0 4,698
iShares 0-5 Yr TIPS Bond ETF COMMON STOCK 46429B747 11,552,518 114,859 SH   SOLE 0.00 110,666 0 4,193
iShares Barclays 7-10 Yr Trsy Bond Fd COMMON STOCK 464287440 9,351 85 SH   SOLE 0.00 85 0 0
iShares Core MSCI EAFE COMMON STOCK 46432F842 2,517 41 SH   SOLE 0.00 41 0 0
iShares Core MSCI EM IMI ETF COMMON STOCK 46434G103 2,520 49 SH   SOLE 0.00 49 0 0
iShares Core MSCI Europe ETF COMMON STOCK 46434V738 19,053,481 408,873 SH   SOLE 0.00 398,695 0 10,178
iShares Int'l Select Divid ETF COMMON STOCK 464288448 3,932 128 SH   SOLE 0.00 128 0 0
iShares MSCI All Country Asia ex Japan ETF COMMON STOCK 464288182 9,389,686 134,542 SH   SOLE 0.00 131,154 0 3,388
iShares Russell 3000 ETF COMMON STOCK 464287689 60,670 352 SH   SOLE 0.00 352 0 0
iShares U.S. Telecommunications ETF COMMON STOCK 464287713 971 33 SH   SOLE 0.00 33 0 0
iShares US Preferred ETF COMMON STOCK 464288687 4,716 128 SH   SOLE 0.00 128 0 0
iShares iBoxx $ Invest. Grade Corp Bd ETF COMMON STOCK 464287242 24,171,806 194,354 SH   SOLE 0.00 187,255 0 7,099
BANK OF AMERICA CORP COMMON STOCK 060505104 5,307 183 SH   SOLE 0.00 183 0 0
GOLDMAN SACHS GRP INC COMMON STOCK 38141G104 5,319 26 SH   SOLE 0.00 26 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625H100 183,016 1,637 SH   SOLE 0.00 1,637 0 0
ISHARES CORE GROWTH ALLOCATI COMMON STOCK 464289867 2,393 52 SH   SOLE 0.00 52 0 0
VANGUARD TTL WRLD STK INDX COMMON STOCK 922042742 25,855 344 SH   SOLE 0.00 344 0 0
iShares MSCI ACWI ETF COMMON STOCK 464288257 111,375 1,511 SH   SOLE 0.00 1,511 0 0
ISHARES US FIN SERVICES ETF COMMON STOCK 464287770 5,489 41 SH   SOLE 0.00 41 0 0
ISHARES FLOATING RATE BD ETF COMMON STOCK 46429B655 8,556 168 SH   SOLE 0.00 168 0 0