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
Huadian Power International C CS 614278901 16 40,000 SH   SOLE   40,000 0 0
Kingmaker Footwear Holdings CS 649209905 19 120,000 SH   SOLE   120,000 0 0
Restaurant Brands NZ Ltd CS 600298905 283 45,000 SH   SOLE   45,000 0 0
Westshore Terminals Investmen CS 96145a960 170 10,120 SH   SOLE   10,120 0 0
3M Corp. CS 88579Y101 1,065 6,145 SH   SOLE   6,145 0 0
A T & T CS 00206R102 1,260 37,605 SH   SOLE   37,605 0 0
AMN Healthcare Services CS 001744101 1,082 19,949 SH   SOLE   19,949 0 0
AbbVie Inc. CS 00287y109 515 7,080 SH   SOLE   7,080 0 0
Abbott Labs CS 002824100 2,134 25,378 SH   SOLE   25,378 0 0
Akamai Technologies CS 00971t101 469 5,850 SH   SOLE   5,850 0 0
Alaska Air CS 011659109 246 3,850 SH   SOLE   3,850 0 0
Albemarle Corp. CS 012653101 225 3,200 SH   SOLE   3,200 0 0
Alexandria Real Estate CS 015271109 445 3,152 SH   SOLE   3,152 0 0
Allstate CS 020002101 203 2,000 SH   SOLE   2,000 0 0
Alphabet Inc Class A CS 02079k305 1,108 1,023 SH   SOLE   1,023 0 0
Alphabet Inc Class C CS 02079k107 774 716 SH   SOLE   716 0 0
American Airlines Group Inc. CS 02376r102 370 11,337 SH   SOLE   11,337 0 0
Amgen CS 031162100 1,799 9,762 SH   SOLE   9,762 0 0
Analog Devices CS 032654105 1,357 12,025 SH   SOLE   12,025 0 0
Apple Computer CS 037833100 2,235 11,294 SH   SOLE   11,294 0 0
Astrazeneca CS 046353108 244 5,907 SH   SOLE   5,907 0 0
Atlas Air Worldwide CS 049164205 1,113 24,925 SH   SOLE   24,925 0 0
BB&T CS 054937107 802 16,325 SH   SOLE   16,325 0 0
Baxter International CS 071813109 520 6,350 SH   SOLE   6,350 0 0
Becton Dickinson CS 075887109 823 3,265 SH   SOLE   3,265 0 0
Berkshire Hathaway B CS 084670702 1,489 6,986 SH   SOLE   6,986 0 0
Bio Telemetry, Inc. CS 090672106 549 11,400 SH   SOLE   11,400 0 0
Biomarin Pharmaceutical CS 09061g101 270 3,150 SH   SOLE   3,150 0 0
Blackstone Mortgage Trust CS 09257w100 827 23,250 SH   SOLE   23,250 0 0
Boeing CS 097023105 1,367 3,755 SH   SOLE   3,755 0 0
Bristol Myers Squibb CS 110122108 1,498 33,037 SH   SOLE   33,037 0 0
Broadcom CS 11135F101 230 800 SH   SOLE   800 0 0
Brooks Automation CS 114340102 376 9,700 SH   SOLE   9,700 0 0
C.V.S. Caremark CS 126650100 1,904 34,950 SH   SOLE   34,950 0 0
CBS CS 124857202 474 9,500 SH   SOLE   9,500 0 0
CME Group CS 12572q105 239 1,230 SH   SOLE   1,230 0 0
CSX Corp CS 126408103 1,878 24,275 SH   SOLE   24,275 0 0
Cabot Oil & Gas CS 127097103 250 10,900 SH   SOLE   10,900 0 0
Canadian Pacific CS 13645T100 201 855 SH   SOLE   855 0 0
Carnival Corp.-Cl A CS 143658300 1,827 39,253 SH   SOLE   39,253 0 0
Century Bancorp CS 156432106 488 5,549 SH   SOLE   5,549 0 0
Charles River Laboratories CS 159864107 990 6,975 SH   SOLE   6,975 0 0
Cheniere Energy, Inc. CS 16411r208 633 9,250 SH   SOLE   9,250 0 0
Church and Dwight CS 171340102 5,680 77,750 SH   SOLE   77,750 0 0
Ciena Corporation CS 171779309 303 7,375 SH   SOLE   7,375 0 0
Cisco Systems CS 17275R102 4,564 83,400 SH   SOLE   83,400 0 0
Citizens Financial Group CS 174610105 612 17,295 SH   SOLE   17,295 0 0
Clorox Company CS 189054109 1,344 8,775 SH   SOLE   8,775 0 0
Coca-Cola CS 191216100 2,104 41,325 SH   SOLE   41,325 0 0
Colgate-Palmolive CS 194162103 651 9,088 SH   SOLE   9,088 0 0
Comcast Corp Cl A CS 20030n101 281 6,646 SH   SOLE   6,646 0 0
Constellation Brands CS 21036P108 645 3,275 SH   SOLE   3,275 0 0
Darden Restaurants CS 237194105 417 3,423 SH   SOLE   3,423 0 0
Delta Airlines CS 247361702 1,457 25,675 SH   SOLE   25,675 0 0
Digital Realty Trust CS 253868103 736 6,248 SH   SOLE   6,248 0 0
Edwards Lifesciences CS 28176E108 323 1,750 SH   SOLE   1,750 0 0
Elanco Animal Health CS 28414h103 321 9,500 SH   SOLE   9,500 0 0
Electronic Arts CS 285512109 853 8,425 SH   SOLE   8,425 0 0
Eli Lilly CS 532457108 1,019 9,200 SH   SOLE   9,200 0 0
Emerson Electric CS 291011104 561 8,408 SH   SOLE   8,408 0 0
Estee Lauder CS 518439104 2,115 11,550 SH   SOLE   11,550 0 0
Exxon Mobil CS 30231G102 1,951 25,461 SH   SOLE   25,461 0 0
Fabrinet CS g3323l100 795 16,008 SH   SOLE   16,008 0 0
Facebook Inc CS 30303m102 840 4,350 SH   SOLE   4,350 0 0
FedEx CS 31428X106 800 4,870 SH   SOLE   4,870 0 0
Fifth Third Bank CS 316773100 1,122 40,200 SH   SOLE   40,200 0 0
Foot Locker, Inc. CS 344849104 902 21,525 SH   SOLE   21,525 0 0
Fortinet CS 34959e109 761 9,900 SH   SOLE   9,900 0 0
Fortune Brands & Home Security CS 34964c106 460 8,050 SH   SOLE   8,050 0 0
Freeport McMoran CS 35671D857 319 27,500 SH   SOLE   27,500 0 0
General Electric CS 369604103 390 37,177 SH   SOLE   37,177 0 0
General Mills CS 370334104 710 13,525 SH   SOLE   13,525 0 0
Gilead Sciences CS 375558103 637 9,430 SH   SOLE   9,430 0 0
GlaxoSmithKline CS 37733W105 468 11,700 SH   SOLE   11,700 0 0
H&E Equipment Services CS 404030108 445 15,301 SH   SOLE   15,301 0 0
HCA Holdings CS 40412c101 676 5,000 SH   SOLE   5,000 0 0
HSBC Holdings Pfd A CS 404280604 254 9,700 SH   SOLE   9,700 0 0
Harris CS 413875105 378 2,000 SH   SOLE   2,000 0 0
Healthequity CS 42226a107 277 4,240 SH   SOLE   4,240 0 0
Hilton Hotels CS 432848109 425 4,350 SH   SOLE   4,350 0 0
Home Depot CS 437076102 956 4,599 SH   SOLE   4,599 0 0
Honeywell Int'l. CS 438516106 932 5,337 SH   SOLE   5,337 0 0
Independent Bank CS 453836108 1,229 16,141 SH   SOLE   16,141 0 0
Int'l Bus. Mach. CS 459200101 1,309 9,490 SH   SOLE   9,490 0 0
Int'l Flvrs & Frag. CS 459506101 874 6,025 SH   SOLE   6,025 0 0
Intel CS 458140100 2,917 60,937 SH   SOLE   60,937 0 0
Intuit Inc. CS 461202103 235 900 SH   SOLE   900 0 0
J.P. Morgan Chase CS 46625H100 834 7,458 SH   SOLE   7,458 0 0
Johnson & Johnson CS 478160104 4,572 32,827 SH   SOLE   32,827 0 0
Juniper CS 48203R104 762 28,600 SH   SOLE   28,600 0 0
Kansas City So. CS 485170302 774 6,354 SH   SOLE   6,354 0 0
Kellogg CS 487836108 862 16,093 SH   SOLE   16,093 0 0
KeyCorp CS 493267108 557 31,395 SH   SOLE   31,395 0 0
Kimberly Clark CS 494368103 2,771 20,788 SH   SOLE   20,788 0 0
Kimco Realty Corp. CS 49446r109 305 16,500 SH   SOLE   16,500 0 0
Lennar CS 526057104 962 19,850 SH   SOLE   19,850 0 0
M.D.C. Holdings, Inc. CS 552676108 1,095 33,408 SH   SOLE   33,408 0 0
Marathon Petroleum CS 56585a102 1,020 18,250 SH   SOLE   18,250 0 0
Marriott CS 571903202 203 1,450 SH   SOLE   1,450 0 0
McDonald's CS 580135101 699 3,367 SH   SOLE   3,367 0 0
Medtronic PLC CS g5960l103 760 7,800 SH   SOLE   7,800 0 0
Merck CS 58933y105 1,991 23,745 SH   SOLE   23,745 0 0
Microsoft CS 594918104 2,001 14,934 SH   SOLE   14,934 0 0
Mohawk Industries CS 608190104 490 3,325 SH   SOLE   3,325 0 0
Morgan Stanley CS 617446448 455 10,375 SH   SOLE   10,375 0 0
Nektar Therapeutics CS 640268108 395 11,105 SH   SOLE   11,105 0 0
NextEra Energy Inc. CS 65339f101 287 1,400 SH   SOLE   1,400 0 0
Nike Inc Class B CS 654106103 1,262 15,035 SH   SOLE   15,035 0 0
Northrop Grumman CS 666807102 355 1,100 SH   SOLE   1,100 0 0
Nvidia CS 67066G104 264 1,610 SH   SOLE   1,610 0 0
Oshkosh Corp CS 688239201 455 5,450 SH   SOLE   5,450 0 0
PPG Industries CS 693506107 451 3,865 SH   SOLE   3,865 0 0
PRA Health Sciences, Inc. CS 69354m108 800 8,071 SH   SOLE   8,071 0 0
Packaging Corp of America CS 695156109 1,396 14,648 SH   SOLE   14,648 0 0
Parker Hannifin CS 701094104 639 3,760 SH   SOLE   3,760 0 0
Pepsico CS 713448108 752 5,738 SH   SOLE   5,738 0 0
Pfizer CS 717081103 2,118 48,884 SH   SOLE   48,884 0 0
Pioneer Natural Resources CS 723787107 408 2,650 SH   SOLE   2,650 0 0
Procter & Gamble CS 742718109 1,489 13,576 SH   SOLE   13,576 0 0
Prosperity Bancshares, Inc. CS 743606105 1,040 15,750 SH   SOLE   15,750 0 0
Raytheon CS 755111507 304 1,750 SH   SOLE   1,750 0 0
Restaurant Brands Int'l CS 76131d103 1,261 18,137 SH   SOLE   18,137 0 0
Roche Holdings Ltd CS 771195104 671 19,107 SH   SOLE   19,107 0 0
Ryder System, Inc. CS 783549108 557 9,550 SH   SOLE   9,550 0 0
SVB Financial Group CS 78486q101 230 1,025 SH   SOLE   1,025 0 0
Salesforce.com CS 79466l302 671 4,420 SH   SOLE   4,420 0 0
Schlumberger CS 806857108 353 8,874 SH   SOLE   8,874 0 0
Sensata Technologies CS g8060n102 751 15,325 SH   SOLE   15,325 0 0
Sherwin-Williams CS 824348106 206 450 SH   SOLE   450 0 0
Skyworks Solutions Inc CS 83088M102 365 4,725 SH   SOLE   4,725 0 0
Sony Corp CS 835699307 398 7,602 SH   SOLE   7,602 0 0
Square CS 852234103 667 9,200 SH   SOLE   9,200 0 0
Starbucks CS 855244109 472 5,625 SH   SOLE   5,625 0 0
State Street CS 857477103 608 10,840 SH   SOLE   10,840 0 0
SunTrust Banks CS 867914103 895 14,240 SH   SOLE   14,240 0 0
Sysco Corp CS 871829107 725 10,254 SH   SOLE   10,254 0 0
T-Mobile US, Inc. CS 872590104 552 7,450 SH   SOLE   7,450 0 0
Take Two Interactive Software CS 874054109 372 3,275 SH   SOLE   3,275 0 0
Tellurian CS 87968a104 86 11,000 SH   SOLE   11,000 0 0
Terex CS 880779103 670 21,350 SH   SOLE   21,350 0 0
The FRS Company CS aci076053 0 114,324 SH   SOLE   114,324 0 0
Toll Brothers CS 889478103 346 9,450 SH   SOLE   9,450 0 0
Trinity Industries CS 896522109 697 33,600 SH   SOLE   33,600 0 0
UPS CS 911312106 1,629 15,776 SH   SOLE   15,776 0 0
Union Pacific CS 907818108 874 5,167 SH   SOLE   5,167 0 0
United Airlines Holdings, Inc. CS 910047109 1,904 21,748 SH   SOLE   21,748 0 0
United Healthcare CS 91324P102 933 3,825 SH   SOLE   3,825 0 0
United Rentals, Inc. CS 911363109 1,215 9,164 SH   SOLE   9,164 0 0
United Technologies CS 913017109 1,256 9,650 SH   SOLE   9,650 0 0
Verizon Comm. CS 92343V104 1,101 19,270 SH   SOLE   19,270 0 0
Vertex Pharmaceuticals CS 92532F100 431 2,350 SH   SOLE   2,350 0 0
Virtu Financial, Inc. CS 928254101 1,214 55,718 SH   SOLE   55,718 0 0
Visa CS 92826c839 497 2,862 SH   SOLE   2,862 0 0
Walmart Inc. CS 931142103 305 2,762 SH   SOLE   2,762 0 0
Walt Disney CS 254687106 3,069 21,980 SH   SOLE   21,980 0 0
Washington Trust CS 940610108 3,766 72,172 SH   SOLE   72,172 0 0
Waste Management Inc. CS 94106l109 398 3,450 SH   SOLE   3,450 0 0
Wells Fargo CS 949746101 580 12,250 SH   SOLE   12,250 0 0
Weyerhaeuser CS 962166104 427 16,225 SH   SOLE   16,225 0 0
Xylem Inc CS 98419m100 217 2,600 SH   SOLE   2,600 0 0
Zoetis Inc CS 98978v103 2,051 18,073 SH   SOLE   18,073 0 0
Zuora CS 98983v106 198 12,894 SH   SOLE   12,894 0 0
eBay CS 278642103 415 10,500 SH   SOLE   10,500 0 0