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 054937602 273 12,000 SH   SOLE   12,000 0 0
Stanley Black & Decker PFD 854502705 291 12,000 SH   SOLE   12,000 0 0
3M Company COM 88579y101 7,934 44,436 SH   SOLE   44,436 0 0
AT&T Corp. COM 00206R102 7,185 168,946 SH   SOLE   168,946 0 0
AbbVie Inc. COM 00287y109 9,229 147,396 SH   SOLE   147,396 0 0
Activision Blizzard Inc. COM 00507V109 5,979 165,587 SH   SOLE   165,587 0 0
Allstate COM 020002101 8,444 113,936 SH   SOLE   113,936 0 0
Alphabet Class-C Share COM 02079K107 702 910 SH   SOLE   910 0 0
Alphabet Inc. Class A COM 02079k305 13,264 16,739 SH   SOLE   16,739 0 0
Amgen COM 031162100 8,673 59,320 SH   SOLE   59,320 0 0
Apple Inc. COM 037833100 15,656 135,181 SH   SOLE   135,181 0 0
Arthur J. Gallagher & Co. COM 363576109 1,611 31,020 SH   SOLE   31,020 0 0
BB&T Corporation COM 054937107 370 7,882 SH   SOLE   7,882 0 0
Bank Of America Corp COM 060505104 213 9,663 SH   SOLE   9,663 0 0
Berkshire Hathaway Inc. Cl B COM 084670702 8,463 51,932 SH   SOLE   51,932 0 0
Bristol Myers Squibb COM 110122108 1,142 19,550 SH   SOLE   19,550 0 0
CNOOC Limited ADR COM 126132109 5,478 44,192 SH   SOLE   44,192 0 0
CVS Health Corp COM 126650100 9,870 125,086 SH   SOLE   125,086 0 0
Cardinal Health Inc. COM 14149y108 6,769 94,056 SH   SOLE   94,056 0 0
Carolina Financial Group COM 143873107 812 26,400 SH   SOLE   26,400 0 0
Caterpillar Inc Del COM 149123101 8,982 96,858 SH   SOLE   96,858 0 0
Celgene COM 151020104 2,059 17,795 SH   SOLE   17,795 0 0
Chevron Corp COM 166764100 8,570 72,820 SH   SOLE   72,820 0 0
Cisco Systems COM 17275R102 10,150 335,902 SH   SOLE   335,902 0 0
Coca-Cola Co. COM 191216100 786 18,972 SH   SOLE   18,972 0 0
Cognizant Technology Solutions COM 192446102 222 3,975 SH   SOLE   3,975 0 0
Computer Sciences Corp. COM 205363104 10,641 179,086 SH   SOLE   179,086 0 0
Delta Air Lines COM 247361702 2,239 45,523 SH   SOLE   45,523 0 0
Dominion Resources, Inc. COM 25746U109 1,261 16,470 SH   SOLE   16,470 0 0
Dow Chemical Co. COM 260543103 6,973 121,879 SH   SOLE   121,879 0 0
Exelon Corp COM 30161N101 8,538 240,584 SH   SOLE   240,584 0 0
Exxon Mobil Corp. COM 30231g102 8,037 89,047 SH   SOLE   89,047 0 0
FedEx Corp COM 31428X106 9,579 51,448 SH   SOLE   51,448 0 0
First Bancorp NC COM 318910106 634 23,386 SH   SOLE   23,386 0 0
Fiserv Inc. COM 337738108 10,634 100,064 SH   SOLE   100,064 0 0
Foot Locker, Inc. COM 344849104 3,118 43,988 SH   SOLE   43,988 0 0
Ford Motor Co. COM 345370860 2,364 194,925 SH   SOLE   194,925 0 0
General Dynamics COM 369550108 10,556 61,139 SH   SOLE   61,139 0 0
General Elec Co. COM 369604103 943 29,862 SH   SOLE   29,862 0 0
Gilead Sciences Inc. COM 375558103 254 3,555 SH   SOLE   3,555 0 0
Goldman Sachs Group COM 38141G104 1,202 5,020 SH   SOLE   5,020 0 0
Halliburton Co. COM 406216101 9,290 171,761 SH   SOLE   171,761 0 0
Home Depot Inc. COM 437076102 9,968 74,350 SH   SOLE   74,350 0 0
Host Hotels and Resorts COM 44107P104 6,439 341,802 SH   SOLE   341,802 0 0
Humana Inc. COM 444859102 2,178 10,679 SH   SOLE   10,679 0 0
IShares Russell Mid-Cap Index COM 464287499 1,340 7,495 SH   SOLE   7,495 0 0
International Paper COM 460146103 8,320 156,807 SH   SOLE   156,807 0 0
J. P. Morgan COM 46625H100 7,775 90,112 SH   SOLE   90,112 0 0
Japan (iShares MSCI Index) COM 46434G822 332 6,800 SH   SOLE   6,800 0 0
Johnson & Johnson COM 478160104 6,763 58,709 SH   SOLE   58,709 0 0
KeyCorp COM 493267108 656 35,950 SH   SOLE   35,950 0 0
Kinder Morgan Inc. COM 49456b101 285 13,799 SH   SOLE   13,799 0 0
Lam Research COM 512807108 8,892 84,110 SH   SOLE   84,110 0 0
Lowe's Companies Inc. COM 548661107 435 6,121 SH   SOLE   6,121 0 0
MSCI EAFE ETF COM 464287465 1,205 20,890 SH   SOLE   20,890 0 0
Manitowoc Foodservice COM 563568104 425 22,000 SH   SOLE   22,000 0 0
Manitowoc Inc Com COM 563571108 239 40,000 SH   SOLE   40,000 0 0
Marathon Oil Group COM 565849106 1,828 105,604 SH   SOLE   105,604 0 0
Medtronic PLC COM G5960L103 7,738 108,648 SH   SOLE   108,648 0 0
Merck & Co. COM 58933y105 2,033 34,535 SH   SOLE   34,535 0 0
Microchip Technology Inc. COM 595017104 215 3,360 SH   SOLE   3,360 0 0
Microsoft Corp. COM 594918104 11,263 181,254 SH   SOLE   181,254 0 0
NVR Inc. COM 62944T105 6,607 3,959 SH   SOLE   3,959 0 0
Omnicom Group Inc. COM 681919106 7,354 86,406 SH   SOLE   86,406 0 0
PNC Financial Services Group COM 693475105 6,558 56,077 SH   SOLE   56,077 0 0
Pfizer Inc. COM 717081103 5,801 178,613 SH   SOLE   178,613 0 0
Phillips 66 COM 718546104 6,922 80,115 SH   SOLE   80,115 0 0
Priceline Group Inc. COM 741503403 6,845 4,669 SH   SOLE   4,669 0 0
Procter & Gamble COM 742718109 7,713 91,739 SH   SOLE   91,739 0 0
Public Storage Inc. COM 74460D109 4,543 20,329 SH   SOLE   20,329 0 0
Qualcomm Inc. COM 747525103 10,090 154,766 SH   SOLE   154,766 0 0
R2000 ETF COM 464287655 745 5,530 SH   SOLE   5,530 0 0
Schlumberger Limited COM 806857108 7,841 93,406 SH   SOLE   93,406 0 0
Simon PPTY Group COM 828806109 1,066 6,000 SH   SOLE   6,000 0 0
Standard & Poors Depository Re COM 78462F103 314 1,405 SH   SOLE   1,405 0 0
Starbucks Corp. COM 855244109 326 5,879 SH   SOLE   5,879 0 0
SunTrust Banks Inc. COM 867914103 1,115 20,330 SH   SOLE   20,330 0 0
TJX Cos. Inc. COM 872540109 385 5,128 SH   SOLE   5,128 0 0
Target Corp. COM 87612E106 3,445 47,701 SH   SOLE   47,701 0 0
Textron Inc. COM 883203101 8,465 174,335 SH   SOLE   174,335 0 0
Tyson Foods, Inc. COM 902494103 11,097 179,926 SH   SOLE   179,926 0 0
U.S. Bancorp COM 902973304 9,727 189,365 SH   SOLE   189,365 0 0
UnitedHealth Group Inc. COM 91324P102 8,298 51,854 SH   SOLE   51,854 0 0
Valero Energy Corp. COM 91913y100 799 11,700 SH   SOLE   11,700 0 0
Vanguard Ftse Emerging COM 922042858 309 8,655 SH   SOLE   8,655 0 0
Verizon Communications COM 92343v104 9,924 185,927 SH   SOLE   185,927 0 0
Visa Inc. COM 92826c839 10,382 133,074 SH   SOLE   133,074 0 0
Walt Disney Co. COM 254687106 11,199 107,463 SH   SOLE   107,463 0 0
Wells Fargo & Co. COM 949746101 7,046 127,868 SH   SOLE   127,868 0 0
Western Digital Corp. COM 958102105 10,926 160,799 SH   SOLE   160,799 0 0
DFA Inv. Dimension Grp MMF 23320384p 227 6,710 SH   SOLE   6,710 0 0
DFA intl Core Eq Fd MMF 233203371 233 20,046 SH   SOLE   20,046 0 0