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
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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
BB&T Pfd 5.2% PFD 054937602 306 12,000 SH   SOLE   12,000 0 0
Nextera Energy Cap Pfd 5.625 PFD 65339k704 204 8,000 SH   SOLE   8,000 0 0
Stanley Black & Decker 5.75% PFD 854502705 309 12,000 SH   SOLE   12,000 0 0
3M Company COM 88579y101 7,669 43,522 SH   SOLE   43,522 0 0
AT&T Corp. COM 00206R102 6,642 163,569 SH   SOLE   163,569 0 0
AbbVie Inc. COM 00287y109 9,395 148,971 SH   SOLE   148,971 0 0
Activision Blizzard Inc. COM 00507V109 8,220 185,570 SH   SOLE   185,570 0 0
Allstate COM 020002101 7,910 114,340 SH   SOLE   114,340 0 0
Alphabet Class-C Share COM 02079K107 970 1,248 SH   SOLE   1,248 0 0
Alphabet Inc. Class A COM 02079k305 13,373 16,632 SH   SOLE   16,632 0 0
Amgen COM 031162100 9,731 58,338 SH   SOLE   58,338 0 0
Apple Inc. COM 037833100 15,551 137,565 SH   SOLE   137,565 0 0
Arthur J. Gallagher & Co. COM 363576109 7,149 140,548 SH   SOLE   140,548 0 0
BB&T Corporation COM 054937107 410 10,882 SH   SOLE   10,882 0 0
Bank Of America Corp COM 060505104 308 19,728 SH   SOLE   19,728 0 0
Berkshire Hathaway Inc. Cl B COM 084670702 7,564 52,358 SH   SOLE   52,358 0 0
Boeing Co. COM 097023105 324 2,462 SH   SOLE   2,462 0 0
Bristol Myers Squibb COM 110122108 5,880 109,060 SH   SOLE   109,060 0 0
CNOOC Limited ADR COM 126132109 5,827 46,073 SH   SOLE   46,073 0 0
CVS Health Corp COM 126650100 10,298 115,728 SH   SOLE   115,728 0 0
Cardinal Health Inc. COM 14149y108 8,083 104,039 SH   SOLE   104,039 0 0
Carolina Financial Group COM 143873107 589 26,400 SH   SOLE   26,400 0 0
Caterpillar Inc Del COM 149123101 8,731 98,356 SH   SOLE   98,356 0 0
Celgene COM 151020104 2,062 19,730 SH   SOLE   19,730 0 0
Chevron Corp COM 166764100 7,573 73,587 SH   SOLE   73,587 0 0
Cisco Systems COM 17275R102 10,307 324,961 SH   SOLE   324,961 0 0
Coca-Cola Co. COM 191216100 785 18,572 SH   SOLE   18,572 0 0
Cognizant Technology Solutions COM 192446102 393 8,241 SH   SOLE   8,241 0 0
Computer Sciences Corp. COM 205363104 10,200 195,370 SH   SOLE   195,370 0 0
Delta Air Lines COM 247361702 2,295 58,321 SH   SOLE   58,321 0 0
Dominion Resources, Inc. COM 25746U109 1,261 16,980 SH   SOLE   16,980 0 0
Dow Chemical Co. COM 260543103 6,514 125,682 SH   SOLE   125,682 0 0
Exelon Corp COM 30161N101 9,540 286,587 SH   SOLE   286,587 0 0
Exxon Mobil Corp. COM 30231g102 7,824 89,643 SH   SOLE   89,643 0 0
FedEx Corp COM 31428X106 9,232 52,851 SH   SOLE   52,851 0 0
First Bancorp NC COM 318910106 462 23,386 SH   SOLE   23,386 0 0
Fiserv Inc. COM 337738108 10,322 103,775 SH   SOLE   103,775 0 0
Foot Locker, Inc. COM 344849104 3,316 48,978 SH   SOLE   48,978 0 0
Ford Motor Co. COM 345370860 8,121 672,873 SH   SOLE   672,873 0 0
General Dynamics COM 369550108 10,114 65,186 SH   SOLE   65,186 0 0
General Elec Co. COM 369604103 1,002 33,859 SH   SOLE   33,859 0 0
Gilead Sciences Inc. COM 375558103 510 6,455 SH   SOLE   6,455 0 0
Goldman Sachs Group COM 38141G104 836 5,190 SH   SOLE   5,190 0 0
Goodyear Tire & Rubber COM 382550101 436 13,525 SH   SOLE   13,525 0 0
Halliburton Co. COM 406216101 7,920 176,473 SH   SOLE   176,473 0 0
Home Depot Inc. COM 437076102 9,641 74,925 SH   SOLE   74,925 0 0
Host Hotels and Resorts COM 44107P104 5,065 325,350 SH   SOLE   325,350 0 0
Humana Inc. COM 444859102 336 1,900 SH   SOLE   1,900 0 0
IShares Russell Mid-Cap Index COM 464287499 1,533 8,795 SH   SOLE   8,795 0 0
Ingram Micro Inc. COM 457153104 1,050 29,460 SH   SOLE   29,460 0 0
International Paper COM 460146103 7,966 166,045 SH   SOLE   166,045 0 0
J. P. Morgan COM 46625H100 3,715 55,795 SH   SOLE   55,795 0 0
Jabil Circuit, Inc. COM 466313103 217 9,975 SH   SOLE   9,975 0 0
Japan (iShares MSCI Index) COM 464286848 341 27,200 SH   SOLE   27,200 0 0
Johnson & Johnson COM 478160104 7,602 64,356 SH   SOLE   64,356 0 0
KeyCorp COM 493267108 577 47,430 SH   SOLE   47,430 0 0
Kinder Morgan Inc. COM 49456b101 505 21,860 SH   SOLE   21,860 0 0
Lam Research COM 512807108 7,245 76,504 SH   SOLE   76,504 0 0
Lowe's Companies Inc. COM 548661107 441 6,121 SH   SOLE   6,121 0 0
MSCI EAFE ETF COM 464287465 1,377 23,290 SH   SOLE   23,290 0 0
Manitowoc Foodservice COM 563568104 356 22,000 SH   SOLE   22,000 0 0
Manitowoc Inc Com COM 563571108 191 40,000 SH   SOLE   40,000 0 0
McKesson Corporation COM 58155q103 350 2,102 SH   SOLE   2,102 0 0
Medtronic PLC COM G5960L103 9,784 113,246 SH   SOLE   113,246 0 0
Merck & Co. COM 58933y105 2,298 36,825 SH   SOLE   36,825 0 0
Microchip Technology Inc. COM 595017104 444 7,160 SH   SOLE   7,160 0 0
Microsoft Corp. COM 594918104 10,801 187,520 SH   SOLE   187,520 0 0
NVR Inc. COM 62944T105 6,146 3,748 SH   SOLE   3,748 0 0
Pfizer Inc. COM 717081103 6,581 194,306 SH   SOLE   194,306 0 0
Phillips 66 COM 718546104 7,580 94,110 SH   SOLE   94,110 0 0
Priceline Group Inc. COM 741503403 5,150 3,500 SH   SOLE   3,500 0 0
Procter & Gamble COM 742718109 9,013 100,431 SH   SOLE   100,431 0 0
Public Storage Inc. COM 74460D109 6,717 30,105 SH   SOLE   30,105 0 0
Qualcomm Inc. COM 747525103 10,529 153,719 SH   SOLE   153,719 0 0
R2000 ETF COM 464287655 823 6,630 SH   SOLE   6,630 0 0
Reliance Steel & Aluminum COM 759509102 478 6,650 SH   SOLE   6,650 0 0
Schlumberger Limited COM 806857108 7,371 93,739 SH   SOLE   93,739 0 0
Simon PPTY Group COM 828806109 1,242 6,000 SH   SOLE   6,000 0 0
Skyworks Solutions Inc. COM 83088m102 236 3,110 SH   SOLE   3,110 0 0
Starbucks Corp. COM 855244109 363 6,714 SH   SOLE   6,714 0 0
SunTrust Banks Inc. COM 867914103 3,074 70,190 SH   SOLE   70,190 0 0
Synchrony Financial COM 87165B103 386 13,800 SH   SOLE   13,800 0 0
TJX Cos. Inc. COM 872540109 383 5,128 SH   SOLE   5,128 0 0
Target Corp. COM 87612E106 3,433 49,986 SH   SOLE   49,986 0 0
Textron Inc. COM 883203101 7,262 182,716 SH   SOLE   182,716 0 0
Tyson Foods, Inc. COM 902494103 12,206 163,472 SH   SOLE   163,472 0 0
U.S. Bancorp COM 902973304 8,584 200,152 SH   SOLE   200,152 0 0
UnitedHealth Group Inc. COM 91324P102 6,856 48,973 SH   SOLE   48,973 0 0
Valero Energy Corp. COM 91913y100 890 16,810 SH   SOLE   16,810 0 0
Vanguard Ftse Emerging COM 922042858 374 9,955 SH   SOLE   9,955 0 0
Verizon Communications COM 92343v104 10,543 202,831 SH   SOLE   202,831 0 0
Visa Inc. COM 92826c839 11,181 135,206 SH   SOLE   135,206 0 0
Walt Disney Co. COM 254687106 10,250 110,383 SH   SOLE   110,383 0 0
Wells Fargo & Co. COM 949746101 6,716 151,675 SH   SOLE   151,675 0 0
Western Digital Corp. COM 958102105 9,965 170,439 SH   SOLE   170,439 0 0
DFA Core Equity 2 MMF 23320339p 209 11,910 SH   SOLE   11,910 0 0
DFA Inv. Dimension Grp MMF 23320384p 239 7,670 SH   SOLE   7,670 0 0
DFA intl Core Eq Fd MMF 233203371 302 25,661 SH   SOLE   25,661 0 0