Equity Holdings	Ticker	% of Net Assets
Berkshire Hathaway, Inc. (Class B)	BRK/B	4.1%
Visa, Inc.	V	3.3%
Apple, Inc.	AAPL	3.2%
Alphabet, Inc. (Class C)	GOOG	3.1%
Dollar Tree, Inc.	DLTR	2.8%
Altria Group, Inc.	MO	2.6%
CarMax, Inc.	KMX	2.3%
Norfolk Southern Corp.	NSC	2.2%
FedEx Corp.	FDX	2.1%
Nestle SA	NSRGY	2.1%
Cisco Systems, Inc.	CSCO	2.1%
O'Reilly Automotive, Inc.	ORLY	2.0%
Carnival Corp.	CCL	2.0%
BlackRock, Inc.	BLK	2.0%
The Home Depot, Inc.	HD	1.9%
Progressive Corp.	PGR	1.9%
Alleghany Corp.	Y	1.8%
NewMarket Corp.	NEU	1.7%
Martin Marietta Materials, Inc.	MLM	1.7%
Wells Fargo & Co.	WFC	1.6%
Southwest Airlines Co.	LUV	1.6%
The Charles Schwab Corp.	SCHW	1.5%
General Dynamics Corp.	GD	1.4%
Albemarle Corp.	ALB	1.4%
Chevron Corp.	CVX	1.3%
The Coca-Cola Company	KO	1.0%
Verizon Communications, Inc.	VZ	1.0%
Bristol Myers Squibb	BMY	0.9%
Lowe's Companies, Inc.	LOW	0.9%
Total as % of Net Assets		57.35%

Fixed Income Holdings	Ticker	% of Net Assets
U.S. Treasury Note/Bond - 3 5/8% (8/15/19)	912828LJ7	1.7%
U.S. Treasury Note/Bond - 2 3/4% (2/15/24)	912828B66	1.6%
Morgan Stanley - 5 1/2% (7/28/21)	61747WAL3	1.3%
Fannie Mae Pool - AU4405	3138X33P5	1.3%
U.S. Treasury Note/Bond - 2 5/8% (11/15/20)	912828PC8	1.2%
Freddie Mac Gold Pool - G61281	31335BM60	0.9%
Freddie Mac Gold Pool - Q11129	3132HMHE4	0.9%
Encana Corp. - 3.9% (11/15/21)	292505AJ3	0.9%
Celgene Corp. - 3 5/8% (5/15/24)	151020AP9	0.9%
Capital One Financial Corp. - 4 3/4% (7/15/21)	14040HAY1	0.8%
Goldman Sachs - 6% (6/15/20)	38141EA66	0.8%
Edwards Lifesciences - 4.3% (6/15/28)	28176EAD0	0.8%
Raymond James Financial, Inc. - 3 5/8% (9/15/26)	754730AE9	0.8%
Diamond Finco 1/Finco 2 - 5.45% (6/15/23)	25272KAG8	0.7%
Synovus Financial - 3.125% (11/01/22)	87161CAL9	0.7%
FHLB - 1.25% (10/17/31)	3130A9JQ5	0.6%
Synchrony Financial - 3 3/4% (8/15/21)	87165BAC7	0.6%
Fannie Mae - 2 1/2% (3/30/26)	3136G3GG4	0.6%
Freddie Mac - 2% (10/27/23)	3134GARC0	0.6%
Verizon Communications, Inc. - 2.45% (11/1/22)	92343VBJ2	0.6%
National Oilwell Varco, Inc. - 2.6% (12/1/22)	637071AJ0	0.6%
Boardwalk Pipeline Partners - 4.45% (07/15/27)	096630AF5	0.6%
American International Group. Inc. - 4 7/8% (6/1/22)	026874CU9	0.6%
Rio Tinto Finance USA, Ltd. - 3 3/4% (6/15/25)	767201AS5	0.6%
AngloGold Ashanti Holdings PLC - 5 1/8% (8/1/22)	03512TAC5	0.5%
U.S. Treasury Note/Bond - 3 5/8% (2/15/44)	912810RE0	0.5%
American International Group, Inc. - 4 1/8% (2/15/24)	026874CY1	0.5%
Alibaba Group - 3.6% (11/28/24)	01609WAQ5	0.5%
CVS Health Corp. - 4 1/8% (5/15/21)	126650BW9	0.5%
Canadian Natural Resources, Ltd. - 3.9% (2/1/25)	136385AV3	0.5%
Newmont Mining Corp. - 3 1/2% (3/15/22)	651639AN6	0.5%
Amgen, Inc. - 3.45% (10/1/20)	031162BD1	0.5%
U.S. Treasury Note/Bond - 4 1/4% (3/1/27)	00206RDQ2	0.5%
Fannie Mae - 1 1/2% (4/18/28)	3136G3GW9	0.5%
KeyCorp - 5.1% (3/24/21)	49326EED1	0.5%
JPMorgan Chase & Co. - 2.7% (5/18/23)	46625HRL6	0.5%
Fannie Mae - 1 1/2% (08/10/21)	3136G3U45	0.5%
Discover Financial Services - 5.2% (4/27/22)	254709AG3	0.5%
Macy's, Inc. - 4.375% (09/01/23)	55616XAK3	0.5%
Freddie Mac Gold Pool - Q08238	3132GTPX9	0.5%
Huntington Bancshares - 4% (5/15/25)	446150AM6	0.4%
Raymond James Financial, Inc. - 5 5/8% (4/1/24)	754730AD1	0.4%
Husky Energy - 4% (04/15/24)	448055AK9	0.4%
Goldcorp, Inc. - 3 5/8% (6/9/21)	380956AF9	0.4%
FHLB - 2.75% (7/11/31)	3130A8M75	0.4%
Willis Tower Watson - 3.6% (5/15/24)	970648AF8	0.4%
Cigna Corporation - 3 1/2% (6/15/24)	30219GAK4	0.4%
Agilent Technologies. Inc. - 5% (7/15/20)	00846UAG6	0.4%
Juniper Networks, Inc. - 4.6% (3/15/21)	48203RAF1	0.3%
General Electric Co. - 6% (8/7/19)	36962G4D3	0.3%
Goldman Sachs - 5 3/8% (3/15/20)	38141EA58	0.3%
First Niagara Financial Group - 6 3/4% (3/19/20)	33582VAB4	0.3%
Fannie Mae Pool - AJ3232	3138AUSW8	0.3%
Fannie Mae Pool - MA0918	31418AAU2	0.3%
AT&T, Inc. - 3% (2/15/22)	00206RBD3	0.3%
Fannie Mae Pool - AB4300	31417AX61	0.3%
Capital One - 2.25% (9/13/21)	14042RBT7	0.3%
AT&T - 3% (10/31/25)	9128285J5	0.2%
Prudential Financial - 3.878% (03/27/28)	74432QCC7	0.2%
Ford Motor Corp. - 7.45% (7/16/31)	345370CA6	0.2%
Wal-Mart Stores, Inc. - 5% (10/25/40)	931142CY7	0.2%
Corning, Inc. - 6.85% (3/1/29)	219350AH8	0.2%
Freddie Mac REMICS - 4016 NL	3137ANAJ4	0.2%
Lincoln National Corp. - 6 1/4% (2/15/20)	534187AY5	0.2%
Apple, Inc. - 4 1/2% (2/23/36)	037833BW9	0.2%
Freddie Mac REMICS - 4322 DJ	3137B8MS3	0.1%
Amgen, Inc. - 3 5/8% (5/22/24)	031162BV1	0.1%
Freddie Mac REMICS - 3928 HC	3137AEZ65	0.1%
Ginnie Mae - 2013-24 BD	38378FM72	0.1%
AT&T, Inc. - 5.35% (9/1/40)	04650NAB0	0.1%
Macy's, Inc. - 4.5% (12/15/34)	55616XAM9	0.1%
Fannie Mae Pool - 928831	31412L4Q0	0.1%
Fannie Mae REMICS - 2013-52 MD	3136AEJ24	0.1%
Fannie Mae REMICS - 2012-22 PA	3136A4AJ8	0.1%
Fannie Mae REMICS - 2012-16 Y	3136A4RW1	0.1%
Fannie Mae REMICS - 2010-134 DJ	31398SMH3	0.1%
Freddie Mac REMICS - 4309 JD	3137B7US6	0.1%
Freddie Mac REMICS - 4146 ML	3137AXGC1	0.1%
Freddie Mac Gold Pool - G02922	3128M4SK0	0.0%
Freddie Mac REMICS - 3870 NH	3137ABXJ5	0.0%
Fannie Mae Pool - 829054	31407FBX7	0.0%
Freddie Mac Gold Pool - G11740	31283K4Z8	0.0%
Total as % of Net Assets		37.07%

Preferred Holdings	Ticker	% of Net Assets
CHS, Inc. - 7 1/2%	12542R803	0.1%
Morgan Stanley - 6 3/8%	61761J406	0.1%
Two Harbors Investment Corp - 7.625%	90187B309	0.1%
JPMorgan Chase & Co. - 6.15%	48127V827	0.1%
Huntington Bancshares, Inc. - 6 1/4%	446150708	0.1%
Royal Bank of Scotland - 0% (06/21/13)	020002127	0.1%
Arch Capital Group - 5.45%	03939A107	0.1%
AT & T - 5.625%	00206R409	0.1%
Chimera Investment Corp. - 8%	16934Q307	0.1%
BB&T Corp. - 5.2%	054937602	0.1%
Enbridge, Inc. - 6 3/8%	29250N477	0.1%
Wells Fargo & Co. - 6%	94988U730	0.1%
Wells Fargo & Co. - 5 1/2%	94988U672	0.1%
Capital One Financial Corp. - 6%	14040H840	0.1%
Hartford Financial - 6%	416518603	0.1%
Charles Schwab Corp. - 6%	808513402	0.1%
MetLife - 5.6275%	59156R876	0.1%
Annaly Capital Management - 6.95%	035710870	0.1%
Capital One Financial Corp. - 6.2%	14040H881	0.1%
Regions Financial Corp. - 6 3/8%	7591EP506	0.1%
State Street Corp. - 5.9%	857477608	0.1%
KeyCorp - 6 1/8%	493267702	0.1%
BB&T Corp. - 5 5/8%	054937875	0.1%
Investco Mortgage Capital - 7.5%	46131B506	0.1%
American International Group - 5.85%	026874768	0.1%
Southern Co. - 6 1/4%	842587206	0.1%
Monmouth Real Estate Investment Corp. - 6.125%	609720404	0.1%
Aegon NV - 6 3/8%	007924301	0.1%
Banc of California, Inc. - 7%	05990K874	0.1%
Citigroup, Inc. - 6.3%	172967317	0.1%
Bank of America Corp - 6%	060505229	0.1%
Vornado Realty Trust - 5 1/4%	929042828	0.0%
First Republic Bank - 5.7%	33616C852	0.0%
Public Storage - 5.4%	74460W776	0.0%
First Republic Bank - 5 1/2%	33616C837	0.0%
Citizens Financial Group - 6.35%	174610204	0.0%
U.S. Bancorp - 6 1/2%	902973833	0.0%
Goldman Sachs Group, Inc. - 6 3/8%	38148B108	0.0%
Goldman Sachs Group, Inc. - 6.3%	38148B504	0.0%
Axis Capital Holdings - 5.50%	05461T305	0.0%
Kimco Realty Corp. - 5 1/4%	49446R711	0.0%
Chimera Investment Corp. - 8%	16934Q406	0.0%
Bank of America - 6.2%	060505286	0.0%
Citigroup - 6.875%	172967341	0.0%
Legg Mason, Inc. - 5.45%	524901600	0.0%
Synovus - 6.25%	87161C600	0.0%
Prudential - 5.625%	744320805	0.0%
TCF Financial Corp. - 5.7%	872275300	0.0%
Legg Mason, Inc. - 6 3/8%	524901501	0.0%
Agilent Technologies. Inc. - 5% (7/15/20)	493267876	0.0%
IBERIABANK Corp. - 6 5/8%	450828207	0.0%
ING Groep NV - 6 1/8%	456837509	0.0%
Webster Financial Corp - 5 1/4%	947890505	0.0%
Total as % of Net Assets		2.68%

Cash & Other Holdings	Ticker	% of Net Assets
Cash & Other		2.9%
Total as % of Net Assets		2.93%