COMPASS CAPITAL MANAGEMENT, INC Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$58,881,619	-11.8%	186,482	-4.9%	4.63%	-3.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$56,971,210	+0.8%	435,360	-7.8%	4.48%	+10.1%
FDX	Sell	FEDEX CORP	$56,039,882	-3.5%	211,535	-9.7%	4.40%	+5.3%
V	Sell	VISA INC	$53,423,823	-7.7%	232,267	-4.7%	4.20%	+0.8%
ROP	Sell	ROPER TECHNOLOGIES INC	$53,383,629	-5.8%	110,233	-6.5%	4.19%	+2.8%
APH	Sell	AMPHENOL CORP NEWcl a	$53,378,753	-7.8%	635,537	-6.7%	4.19%	+0.6%
WMT	Sell	WALMART INC	$52,904,516	-3.9%	330,798	-5.6%	4.16%	+4.8%
SHW	Sell	SHERWIN WILLIAMS CO	$52,352,474	-12.3%	205,264	-8.7%	4.11%	-4.3%
ACN	Sell	ACCENTURE PLC IRELAND	$52,249,983	-4.4%	170,134	-3.9%	4.10%	+4.4%
FAST	Sell	FASTENAL CO	$51,696,676	-12.4%	946,132	-5.4%	4.06%	-4.4%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$51,547,706	+2.0%	386,763	-3.9%	4.05%	+11.3%
EXPD	Sell	EXPEDITORS INTL WASH INC	$51,271,681	-9.5%	447,280	-4.4%	4.03%	-1.3%
DHR	Sell	DANAHER CORPORATION	$51,101,435	-0.7%	205,971	-4.0%	4.02%	+8.4%
SYK	Sell	STRYKER CORPORATION	$50,557,297	-14.3%	185,009	-4.3%	3.97%	-6.4%
CHD	Sell	CHURCH & DWIGHT CO INC	$50,304,238	-12.2%	548,993	-4.0%	3.95%	-4.2%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$50,082,339	-6.9%	455,211	-4.3%	3.93%	+1.6%
ITW	Sell	ILLINOIS TOOL WKS INC	$49,613,045	-12.3%	215,419	-4.7%	3.90%	-4.3%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$48,350,058	-6.9%	95,521	-4.0%	3.80%	+1.6%
FISV	Sell	FISERV INC	$47,677,987	-15.9%	422,079	-6.0%	3.75%	-8.2%
QCOM	Sell	QUALCOMM INC	$47,316,633	-9.2%	426,046	-2.7%	3.72%	-0.9%
CVS	Sell	CVS HEALTH CORP	$47,086,753	-1.6%	674,402	-2.6%	3.70%	+7.3%
JNJ	Sell	JOHNSON & JOHNSON	$46,557,718	-9.1%	298,926	-3.4%	3.66%	-0.8%
MRK	Sell	MERCK & CO INC	$44,856,036	-14.6%	435,707	-4.3%	3.52%	-6.8%
ZBRA	Buy	ZEBRA TECHNOLOGIES CORPORATIcl a	$43,546,592	-15.7%	184,106	+5.5%	3.42%	-8.0%
DIS	Sell	DISNEY WALT CO	$39,946,120	-10.6%	492,858	-1.5%	3.14%	-2.4%
AAPL	Sell	APPLE INC	$2,943,442	-16.0%	17,192	-4.8%	0.23%	-8.3%
OMC	Sell	OMNICOM GROUP INC	$954,312	-27.1%	12,813	-6.8%	0.08%	-20.2%
TGT	Buy	TARGET CORP	$700,253	-16.2%	6,333	+0.0%	0.06%	-8.3%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$460,396	-9.1%	1,077	-5.8%	0.04%	0.0%

Q2 2023

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$66,790,236	–	196,130	–	4.81%	–
SHW	New	SHERWIN WILLIAMS CO	$59,701,899	–	224,849	–	4.30%	–
FAST	New	FASTENAL CO	$59,009,669	–	1,000,333	–	4.25%	–
SYK	New	STRYKER CORPORATION	$58,974,992	–	193,304	–	4.24%	–
FDX	New	FEDEX CORP	$58,051,792	–	234,174	–	4.18%	–
APH	New	AMPHENOL CORP NEWcl a	$57,890,792	–	681,469	–	4.17%	–
V	New	VISA INC	$57,859,958	–	243,641	–	4.16%	–
CHD	New	CHURCH & DWIGHT CO INC	$57,325,116	–	571,936	–	4.13%	–
ROP	New	ROPER TECHNOLOGIES INC	$56,685,255	–	117,898	–	4.08%	–
EXPD	New	EXPEDITORS INTL WASH INC	$56,683,653	–	467,957	–	4.08%	–
FISV	New	FISERV INC	$56,670,327	–	449,230	–	4.08%	–
ITW	New	ILLINOIS TOOL WKS INC	$56,568,317	–	226,129	–	4.07%	–
GOOGL	New	ALPHABET INCcap stk cl a	$56,495,767	–	471,978	–	4.07%	–
WMT	New	WALMART INC	$55,065,867	–	350,336	–	3.96%	–
ACN	New	ACCENTURE PLC IRELAND	$54,637,676	–	177,062	–	3.93%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$53,800,436	–	475,773	–	3.87%	–
MRK	New	MERCK & CO INC	$52,531,874	–	455,255	–	3.78%	–
QCOM	New	QUALCOMM INC	$52,119,649	–	437,833	–	3.75%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$51,915,681	–	99,503	–	3.74%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$51,633,577	–	174,538	–	3.72%	–
DHR	New	DANAHER CORPORATION	$51,470,909	–	214,462	–	3.70%	–
JNJ	New	JOHNSON & JOHNSON	$51,219,528	–	309,446	–	3.69%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$50,536,738	–	402,299	–	3.64%	–
CVS	New	CVS HEALTH CORP	$47,874,162	–	692,524	–	3.45%	–
DIS	New	DISNEY WALT CO	$44,667,921	–	500,313	–	3.22%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$4,142,480	–	8	–	0.30%	–
AAPL	New	APPLE INC	$3,504,456	–	18,067	–	0.25%	–
OMC	New	OMNICOM GROUP INC	$1,308,598	–	13,753	–	0.09%	–
MCD	New	MCDONALDS CORP	$1,090,987	–	3,656	–	0.08%	–
TGT	New	TARGET CORP	$835,144	–	6,332	–	0.06%	–
PEP	New	PEPSICO INC	$701,613	–	3,788	–	0.05%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$506,669	–	1,143	–	0.04%	–
HD	New	HOME DEPOT INC	$427,441	–	1,376	–	0.03%	–
GOOG	New	ALPHABET INCcap stk cl c	$246,779	–	2,040	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$209,968	–	390	–	0.02%	–

Q4 2022

			Value		Shares		↓ Weighting
HD	Exit	HOME DEPOT INC	$0	–	-1,403	–	-0.03%	–
PEP	Exit	PEPSICO INC	$0	–	-3,788	–	-0.05%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,656	–	-0.07%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-14,121	–	-0.08%	–
TGT	Exit	TARGET CORP	$0	–	-6,588	–	-0.09%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-5,184	–	-0.16%	–
AAPL	Exit	APPLE INC	$0	–	-17,786	–	-0.22%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.28%	–
FDX	Exit	FEDEX CORP	$0	–	-241,106	–	-3.14%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-709,989	–	-3.58%	–
CHD	Exit	CHURCH & DWIGHT CO INC	$0	–	-578,214	–	-3.62%	–
ECL	Exit	ECOLAB INC	$0	–	-290,779	–	-3.68%	–
QCOM	Exit	QUALCOMM INC	$0	–	-373,875	–	-3.71%	–
DIS	Exit	DISNEY WALT CO	$0	–	-448,814	–	-3.72%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-474,297	–	-3.76%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-209,659	–	-3.77%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-451,190	–	-3.79%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-120,194	–	-3.79%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-170,963	–	-3.86%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-500,510	–	-3.88%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-246,560	–	-3.91%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-409,269	–	-4.02%	–
FISV	Exit	FISERV INC	$0	–	-493,653	–	-4.05%	–
V	Exit	VISA INC	$0	–	-261,026	–	-4.07%	–
FAST	Exit	FASTENAL CO	$0	–	-1,012,672	–	-4.09%	–
SYK	Exit	STRYKER CORPORATION	$0	–	-232,805	–	-4.14%	–
APH	Exit	AMPHENOL CORP NEWcl a	$0	–	-708,908	–	-4.17%	–
WMT	Exit	WALMART INC	$0	–	-374,501	–	-4.26%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-300,691	–	-4.31%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-98,180	–	-4.37%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-213,952	–	-4.37%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-528,122	–	-4.42%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-199,384	–	-4.52%	–

Q3 2022

			Value		Shares		↓ Weighting
DHR	Sell	DANAHER CORPORATION	$51,499,000	-0.1%	199,384	-1.9%	4.52%	+7.0%
CVS	Sell	CVS HEALTH CORP	$50,367,000	-2.2%	528,122	-5.0%	4.42%	+4.7%
MSFT	Buy	MICROSOFT CORP	$49,829,000	-8.7%	213,952	+0.6%	4.37%	-2.3%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$49,796,000	-8.6%	98,180	-2.1%	4.37%	-2.2%
JNJ	Buy	JOHNSON & JOHNSON	$49,121,000	-6.2%	300,691	+1.9%	4.31%	+0.3%
WMT	Sell	WALMART INC	$48,573,000	+6.1%	374,501	-0.5%	4.26%	+13.6%
APH	Sell	AMPHENOL CORP NEWcl a	$47,468,000	+1.6%	708,908	-2.3%	4.17%	+8.7%
SYK	Buy	STRYKER CORPORATION	$47,152,000	+3.7%	232,805	+1.9%	4.14%	+11.0%
FAST	Buy	FASTENAL CO	$46,623,000	-7.6%	1,012,672	+0.2%	4.09%	-1.1%
V	Sell	VISA INC	$46,371,000	-10.4%	261,026	-0.7%	4.07%	-4.1%
FISV	Sell	FISERV INC	$46,191,000	-2.7%	493,653	-7.5%	4.05%	+4.2%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$45,846,000	-7.8%	409,269	+0.2%	4.02%	-1.4%
ITW	Buy	ILLINOIS TOOL WKS INC	$44,541,000	-0.6%	246,560	+0.3%	3.91%	+6.4%
EXPD	Buy	EXPEDITORS INTL WASH INC	$44,200,000	-9.0%	500,510	+0.4%	3.88%	-2.6%
ACN	Buy	ACCENTURE PLC IRELAND	$43,989,000	-5.8%	170,963	+1.7%	3.86%	+0.8%
ROP	Buy	ROPER TECHNOLOGIES INC	$43,227,000	-8.3%	120,194	+0.6%	3.79%	-1.9%
GOOGL	Buy	ALPHABET INCcap stk cl a	$43,156,000	-12.0%	451,190	+1904.6%	3.79%	-5.8%
SHW	Buy	SHERWIN WILLIAMS CO	$42,928,000	-6.8%	209,659	+1.9%	3.77%	-0.3%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$42,853,000	-3.7%	474,297	+0.2%	3.76%	+3.1%
DIS	Buy	DISNEY WALT CO	$42,337,000	+1.1%	448,814	+1.2%	3.72%	+8.2%
QCOM	Buy	QUALCOMM INC	$42,240,000	-10.6%	373,875	+1.1%	3.71%	-4.3%
ECL	Buy	ECOLAB INC	$41,994,000	-5.2%	290,779	+0.9%	3.68%	+1.4%
CHD	Buy	CHURCH & DWIGHT CO INC	$41,308,000	-21.7%	578,214	+1.6%	3.62%	-16.2%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$40,782,000	-7.9%	709,989	+8.2%	3.58%	-1.4%
FDX	Buy	FEDEX CORP	$35,797,000	-26.9%	241,106	+11.6%	3.14%	-21.8%
AAPL	Sell	APPLE INC	$2,458,000	-5.3%	17,786	-6.3%	0.22%	+1.4%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$1,852,000	+304.4%	5,184	+327.4%	0.16%	+328.9%
TGT	Sell	TARGET CORP	$978,000	+4.3%	6,588	-0.8%	0.09%	+11.7%
OMC	Sell	OMNICOM GROUP INC	$891,000	-0.8%	14,121	-0.0%	0.08%	+5.4%
SCHV	Exit	SCHWAB STRATEGIC TRus lcap va etf	$0	–	-3,419	–	-0.02%	–
SCHB	Exit	SCHWAB STRATEGIC TRus brd mkt etf	$0	–	-6,844	–	-0.02%	–
SCHF	Exit	SCHWAB STRATEGIC TRintl eqty etf	$0	–	-10,870	–	-0.03%	–
VTI	Exit	VANGUARD INDEX FDStotal stk mkt	$0	–	-2,373	–	-0.04%	–

Q2 2022

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$54,598,000	–	212,584	–	4.48%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$54,466,000	–	100,254	–	4.47%	–
CHD	New	CHURCH & DWIGHT CO INC	$52,749,000	–	569,274	–	4.33%	–
JNJ	New	JOHNSON & JOHNSON	$52,392,000	–	295,148	–	4.30%	–
V	New	VISA INC	$51,758,000	–	262,877	–	4.24%	–
DHR	New	DANAHER CORPORATION	$51,526,000	–	203,243	–	4.22%	–
CVS	New	CVS HEALTH CORP	$51,490,000	–	555,691	–	4.22%	–
FAST	New	FASTENAL CO	$50,439,000	–	1,010,402	–	4.14%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$49,735,000	–	408,402	–	4.08%	–
GOOGL	New	ALPHABET INCcap stk cl a	$49,051,000	–	22,508	–	4.02%	–
FDX	New	FEDEX CORP	$48,973,000	–	216,016	–	4.02%	–
EXPD	New	EXPEDITORS INTL WASH INC	$48,567,000	–	498,323	–	3.98%	–
FISV	New	FISERV INC	$47,461,000	–	533,450	–	3.89%	–
QCOM	New	QUALCOMM INC	$47,246,000	–	369,861	–	3.87%	–
ROP	New	ROPER TECHNOLOGIES INC	$47,159,000	–	119,495	–	3.87%	–
APH	New	AMPHENOL CORP NEWcl a	$46,715,000	–	725,619	–	3.83%	–
ACN	New	ACCENTURE PLC IRELAND	$46,675,000	–	168,107	–	3.83%	–
SHW	New	SHERWIN WILLIAMS CO	$46,069,000	–	205,748	–	3.78%	–
WMT	New	WALMART INC	$45,768,000	–	376,447	–	3.75%	–
SYK	New	STRYKER CORPORATION	$45,460,000	–	228,523	–	3.73%	–
ITW	New	ILLINOIS TOOL WKS INC	$44,796,000	–	245,795	–	3.67%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$44,495,000	–	473,147	–	3.65%	–
ECL	New	ECOLAB INC	$44,317,000	–	288,223	–	3.63%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$44,270,000	–	655,949	–	3.63%	–
DIS	New	DISNEY WALT CO	$41,863,000	–	443,459	–	3.43%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$3,272,000	–	8	–	0.27%	–
AAPL	New	APPLE INC	$2,596,000	–	18,986	–	0.21%	–
TGT	New	TARGET CORP	$938,000	–	6,639	–	0.08%	–
MCD	New	MCDONALDS CORP	$903,000	–	3,656	–	0.07%	–
OMC	New	OMNICOM GROUP INC	$898,000	–	14,123	–	0.07%	–
PEP	New	PEPSICO INC	$631,000	–	3,788	–	0.05%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$458,000	–	1,213	–	0.04%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$448,000	–	2,373	–	0.04%	–
HD	New	HOME DEPOT INC	$385,000	–	1,403	–	0.03%	–
SCHF	New	SCHWAB STRATEGIC TRintl eqty etf	$342,000	–	10,870	–	0.03%	–
SCHB	New	SCHWAB STRATEGIC TRus brd mkt etf	$302,000	–	6,844	–	0.02%	–
SCHV	New	SCHWAB STRATEGIC TRus lcap va etf	$213,000	–	3,419	–	0.02%	–

Q4 2021

			Value		Shares		↓ Weighting
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-4,900	–	-0.02%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-960	–	-0.03%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,428	–	-0.04%	–
PEP	Exit	PEPSICO INC	$0	–	-3,788	–	-0.04%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,656	–	-0.07%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-14,156	–	-0.08%	–
TGT	Exit	TARGET CORP	$0	–	-7,996	–	-0.14%	–
AAPL	Exit	APPLE INC	$0	–	-20,530	–	-0.22%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.25%	–
FDX	Exit	FEDEX CORP	$0	–	-196,057	–	-3.31%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-224,140	–	-3.57%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-410,591	–	-3.58%	–
ECL	Exit	ECOLAB INC	$0	–	-229,241	–	-3.68%	–
QCOM	Exit	QUALCOMM INC	$0	–	-371,150	–	-3.69%	–
DIS	Exit	DISNEY WALT CO	$0	–	-288,295	–	-3.76%	–
WMT	Exit	WALMART INC	$0	–	-352,863	–	-3.79%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-304,752	–	-3.79%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-110,920	–	-3.81%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-431,280	–	-3.82%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-599,933	–	-3.82%	–
FISV	Exit	FISERV INC	$0	–	-464,010	–	-3.88%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-684,071	–	-3.91%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-404,939	–	-3.91%	–
FAST	Exit	FASTENAL CO	$0	–	-990,997	–	-3.94%	–
V	Exit	VISA INC	$0	–	-231,564	–	-3.97%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-437,873	–	-4.02%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-630,885	–	-4.12%	–
SYK	Exit	STRYKER CORPORATION	$0	–	-206,985	–	-4.21%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-197,106	–	-4.25%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-20,744	–	-4.27%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-173,430	–	-4.28%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-188,514	–	-4.42%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-103,182	–	-4.54%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-218,963	–	-4.76%	–

Q3 2021

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$61,730,000	+0.0%	218,963	-3.9%	4.76%	+0.8%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$58,951,000	+7.2%	103,182	-5.3%	4.54%	+8.0%
DHR	Sell	DANAHER CORPORATION	$57,391,000	+1.3%	188,514	-10.7%	4.42%	+2.1%
ACN	Sell	ACCENTURE PLC IRELAND	$55,484,000	+1.2%	173,430	-6.8%	4.28%	+1.9%
GOOGL	Sell	ALPHABET INCcap stk cl a	$55,459,000	-1.2%	20,744	-9.7%	4.27%	-0.4%
SHW	Sell	SHERWIN WILLIAMS CO	$55,137,000	+2.0%	197,106	-0.7%	4.25%	+2.8%
SYK	Buy	STRYKER CORPORATION	$54,586,000	+2.0%	206,985	+0.4%	4.21%	+2.7%
CVS	Buy	CVS HEALTH CORP	$53,537,000	+2.5%	630,885	+0.8%	4.12%	+3.3%
EXPD	Buy	EXPEDITORS INTL WASH INC	$52,164,000	-5.6%	437,873	+0.3%	4.02%	-4.9%
V	Buy	VISA INC	$51,581,000	-3.9%	231,564	+0.9%	3.97%	-3.2%
FAST	Buy	FASTENAL CO	$51,145,000	-0.2%	990,997	+0.5%	3.94%	+0.5%
MDT	Buy	MEDTRONIC PLC	$50,759,000	+1.7%	404,939	+0.8%	3.91%	+2.5%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$50,765,000	+10.3%	684,071	+3.0%	3.91%	+11.1%
FISV	New	FISERV INC	$50,345,000	–	464,010	–	3.88%	–
CHD	Buy	CHURCH & DWIGHT INC	$49,536,000	+1.8%	599,933	+5.1%	3.82%	+2.6%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$49,520,000	-0.6%	431,280	+2.8%	3.82%	+0.2%
ROP	Sell	ROPER TECHNOLOGIES INC	$49,485,000	-7.9%	110,920	-2.9%	3.81%	-7.2%
JNJ	Buy	JOHNSON & JOHNSON	$49,217,000	-1.0%	304,752	+1.0%	3.79%	-0.3%
WMT	Buy	WALMART INC	$49,182,000	+0.7%	352,863	+1.9%	3.79%	+1.4%
DIS	Buy	DISNEY WALT CO	$48,771,000	-1.4%	288,295	+2.5%	3.76%	-0.6%
QCOM	Buy	QUALCOMM INC	$47,871,000	-9.1%	371,150	+0.7%	3.69%	-8.5%
ECL	Buy	ECOLAB INC	$47,824,000	+3.3%	229,241	+1.9%	3.68%	+4.0%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$46,413,000	-1.2%	410,591	+1.5%	3.58%	-0.5%
ITW	Buy	ILLINOIS TOOL WKS INC	$46,314,000	-5.6%	224,140	+2.1%	3.57%	-4.9%
FDX	Buy	FEDEX CORP	$42,993,000	-17.5%	196,057	+12.3%	3.31%	-16.8%
AAPL	Sell	APPLE INC	$2,905,000	-7.5%	20,530	-10.5%	0.22%	-6.7%
TGT	Sell	TARGET CORP	$1,829,000	-6.2%	7,996	-0.8%	0.14%	-5.4%
OMC	Sell	OMNICOM GROUP INC	$1,026,000	-15.6%	14,156	-6.8%	0.08%	-15.1%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$412,000	-4.6%	960	-5.0%	0.03%	-3.0%
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-352,932	–	-3.64%	–

Q2 2021

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$61,717,000	–	227,822	–	4.72%	–
DHR	New	DANAHER CORPORATION	$56,638,000	–	211,052	–	4.33%	–
GOOGL	New	ALPHABET INCcap stk cl a	$56,105,000	–	22,977	–	4.29%	–
EXPD	New	EXPEDITORS INTL WASH INC	$55,282,000	–	436,663	–	4.23%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$54,985,000	–	108,996	–	4.20%	–
ACN	New	ACCENTURE PLC IRELAND	$54,840,000	–	186,029	–	4.19%	–
SHW	New	SHERWIN WILLIAMS CO	$54,054,000	–	198,398	–	4.13%	–
ROP	New	ROPER TECHNOLOGIES INC	$53,707,000	–	114,222	–	4.11%	–
V	New	VISA INC	$53,672,000	–	229,545	–	4.10%	–
SYK	New	STRYKER CORPORATION	$53,533,000	–	206,110	–	4.09%	–
QCOM	New	QUALCOMM INC	$52,692,000	–	368,653	–	4.03%	–
CVS	New	CVS HEALTH CORP	$52,231,000	–	625,973	–	4.00%	–
FDX	New	FEDEX CORP	$52,093,000	–	174,616	–	3.98%	–
FAST	New	FASTENAL CO	$51,251,000	–	985,595	–	3.92%	–
MDT	New	MEDTRONIC PLC	$49,890,000	–	401,916	–	3.82%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$49,815,000	–	419,674	–	3.81%	–
JNJ	New	JOHNSON & JOHNSON	$49,712,000	–	301,762	–	3.80%	–
DIS	New	DISNEY WALT CO	$49,452,000	–	281,347	–	3.78%	–
ITW	New	ILLINOIS TOOL WKS INC	$49,065,000	–	219,470	–	3.75%	–
WMT	New	WALMART INC	$48,851,000	–	346,415	–	3.74%	–
CHD	New	CHURCH & DWIGHT INC	$48,656,000	–	570,950	–	3.72%	–
PG	New	PROCTER AND GAMBLE CO	$47,621,000	–	352,932	–	3.64%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$46,992,000	–	404,653	–	3.59%	–
ECL	New	ECOLAB INC	$46,315,000	–	224,864	–	3.54%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$46,013,000	–	664,345	–	3.52%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$3,349,000	–	8	–	0.26%	–
AAPL	New	APPLE INC	$3,140,000	–	22,930	–	0.24%	–
TGT	New	TARGET CORP	$1,949,000	–	8,062	–	0.15%	–
OMC	New	OMNICOM GROUP INC	$1,215,000	–	15,186	–	0.09%	–
MCD	New	MCDONALDS CORP	$844,000	–	3,656	–	0.06%	–
PEP	New	PEPSICO INC	$561,000	–	3,788	–	0.04%	–
HD	New	HOME DEPOT INC	$455,000	–	1,428	–	0.04%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$432,000	–	1,010	–	0.03%	–
LW	New	LAMB WESTON HLDGS INC	$395,000	–	4,900	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
CNSL	Exit	CONSOLIDATED COMM HLDGS INC	$0	–	-10,102	–	-0.01%	–
SHOP	Exit	SHOPIFY INCcl a	$0	–	-200	–	-0.02%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-6,660	–	-0.02%	–
CSCO	Exit	CISCO SYS INC	$0	–	-6,244	–	-0.02%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-1,000	–	-0.02%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-2,535	–	-0.03%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-914	–	-0.03%	–
GIS	Exit	GENERAL MLS INC	$0	–	-6,028	–	-0.04%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-6,300	–	-0.04%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,946	–	-0.05%	–
PEP	Exit	PEPSICO INC	$0	–	-3,938	–	-0.05%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,656	–	-0.08%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-17,441	–	-0.08%	–
TGT	Exit	TARGET CORP	$0	–	-9,657	–	-0.15%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.25%	–
AAPL	Exit	APPLE INC	$0	–	-29,534	–	-0.33%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-24,845	–	-3.53%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-371,808	–	-3.60%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-312,080	–	-3.64%	–
DIS	Exit	DISNEY WALT CO	$0	–	-303,323	–	-3.65%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-647,454	–	-3.66%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-96,161	–	-3.68%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-257,266	–	-3.71%	–
ECL	Exit	ECOLAB INC	$0	–	-193,812	–	-3.75%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-372,915	–	-3.76%	–
WMT	Exit	WALMART INC	$0	–	-279,882	–	-3.79%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-287,378	–	-3.87%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-579,386	–	-3.90%	–
FAST	Exit	FASTENAL CO	$0	–	-894,832	–	-3.91%	–
V	Exit	VISA INC	$0	–	-203,060	–	-3.93%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-210,194	–	-3.94%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-443,844	–	-4.03%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-184,179	–	-4.03%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-462,495	–	-4.06%	–
SYK	Exit	STRYKER CORPORATION	$0	–	-202,181	–	-4.08%	–
QCOM	Exit	QUALCOMM INC	$0	–	-370,725	–	-4.23%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-206,222	–	-4.30%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-100,931	–	-4.32%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-64,287	–	-4.34%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-218,748	–	-4.46%	–
FDX	Exit	FEDEX CORP	$0	–	-189,286	–	-4.61%	–

Q3 2020

			Value		Shares		↓ Weighting
FDX	Sell	FEDEX CORP	$47,609,000	+31.7%	189,286	-26.6%	4.61%	+16.6%
MSFT	Sell	MICROSOFT CORP	$46,009,000	-1.0%	218,748	-4.2%	4.46%	-12.4%
SHW	Sell	SHERWIN WILLIAMS CO	$44,791,000	+17.4%	64,287	-2.6%	4.34%	+3.9%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$44,563,000	+13.9%	100,931	-6.5%	4.32%	+0.8%
DHR	Sell	DANAHER CORPORATION	$44,406,000	+13.1%	206,222	-7.1%	4.30%	+0.1%
QCOM	Sell	QUALCOMM INC	$43,627,000	+13.4%	370,725	-12.1%	4.23%	+0.4%
SYK	Buy	STRYKER CORPORATION	$42,128,000	+24.3%	202,181	+7.5%	4.08%	+10.1%
EXPD	Sell	EXPEDITORS INTL WASH INC	$41,865,000	+18.2%	462,495	-0.7%	4.06%	+4.6%
ACN	Sell	ACCENTURE PLC IRELAND	$41,623,000	+4.0%	184,179	-1.2%	4.03%	-8.0%
CHD	Sell	CHURCH & DWIGHT INC	$41,593,000	+15.5%	443,844	-4.7%	4.03%	+2.2%
ITW	Sell	ILLINOIS TOOL WKS INC	$40,612,000	+10.5%	210,194	-0.0%	3.94%	-2.2%
V	Buy	VISA INC	$40,606,000	+4.3%	203,060	+0.7%	3.93%	-7.7%
FAST	Sell	FASTENAL CO	$40,348,000	+2.4%	894,832	-2.7%	3.91%	-9.4%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$40,221,000	+15.3%	579,386	-5.6%	3.90%	+2.1%
PG	Buy	PROCTER AND GAMBLE CO	$39,943,000	+17.1%	287,378	+0.7%	3.87%	+3.6%
WMT	Buy	WALMART INC	$39,158,000	+20.3%	279,882	+3.0%	3.79%	+6.5%
MDT	Buy	MEDTRONIC PLC	$38,753,000	+19.9%	372,915	+5.8%	3.76%	+6.1%
ECL	Buy	ECOLAB INC	$38,731,000	+8.7%	193,812	+8.2%	3.75%	-3.8%
JNJ	Buy	JOHNSON & JOHNSON	$38,302,000	+10.3%	257,266	+4.2%	3.71%	-2.4%
ROP	Buy	ROPER TECHNOLOGIES INC	$37,994,000	+3.0%	96,161	+1.2%	3.68%	-8.8%
CVS	Buy	CVS HEALTH CORP	$37,811,000	+8.4%	647,454	+20.6%	3.66%	-4.1%
DIS	Buy	DISNEY WALT CO	$37,636,000	+15.9%	303,323	+4.1%	3.65%	+2.6%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$37,556,000	+13.5%	312,080	+1.3%	3.64%	+0.5%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$37,199,000	+12.6%	371,808	+3.1%	3.60%	-0.4%
GOOGL	New	ALPHABET INCcap stk cl a	$36,413,000	–	24,845	–	3.53%	–
AAPL	Buy	APPLE INC	$3,420,000	+427.0%	29,534	+1559.2%	0.33%	+366.2%
TGT	Sell	TARGET CORP	$1,520,000	+29.4%	9,657	-1.4%	0.15%	+14.0%
OMC	Sell	OMNICOM GROUP INC	$863,000	-15.5%	17,441	-6.7%	0.08%	-25.0%
PEP	Sell	PEPSICO INC	$546,000	-9.3%	3,938	-13.5%	0.05%	-19.7%
LW	Sell	LAMB WESTON HLDGS INC	$418,000	-5.2%	6,300	-8.7%	0.04%	-16.7%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$306,000	+3.7%	914	-4.4%	0.03%	-6.2%
CRM	New	SALESFORCE COM INC	$251,000	–	1,000	–	0.02%	–
CSCO	New	CISCO SYS INC	$246,000	–	6,244	–	0.02%	–
CAG	New	CONAGRA BRANDS INC	$238,000	–	6,660	–	0.02%	–
SHOP	New	SHOPIFY INCcl a	$205,000	–	200	–	0.02%	–
CNSL	New	CONSOLIDATED COMM HLDGS INC	$57,000	–	10,102	–	0.01%	–
MMM	Exit	3M CO	$0	–	-4,047	–	-0.07%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-756,234	–	-3.51%	–

Q2 2020

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$46,460,000	–	228,294	–	5.09%	–
ACN	New	ACCENTURE PLC IRELAND	$40,021,000	–	186,385	–	4.38%	–
FAST	New	FASTENAL CO	$39,406,000	–	919,839	–	4.31%	–
DHR	New	DANAHER CORPORATION	$39,250,000	–	221,963	–	4.30%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$39,116,000	–	107,955	–	4.28%	–
V	New	VISA INC	$38,948,000	–	201,623	–	4.26%	–
QCOM	New	QUALCOMM INC	$38,460,000	–	421,667	–	4.21%	–
SHW	New	SHERWIN WILLIAMS CO	$38,152,000	–	66,024	–	4.18%	–
ROP	New	ROPER TECHNOLOGIES INC	$36,883,000	–	94,995	–	4.04%	–
ITW	New	ILLINOIS TOOL WKS INC	$36,754,000	–	210,204	–	4.02%	–
FDX	New	FEDEX CORP	$36,139,000	–	257,733	–	3.96%	–
CHD	New	CHURCH & DWIGHT INC	$36,010,000	–	465,850	–	3.94%	–
ECL	New	ECOLAB INC	$35,639,000	–	179,135	–	3.90%	–
EXPD	New	EXPEDITORS INTL WASH INC	$35,422,000	–	465,837	–	3.88%	–
CVS	New	CVS HEALTH CORP	$34,887,000	–	536,974	–	3.82%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$34,873,000	–	613,743	–	3.82%	–
JNJ	New	JOHNSON & JOHNSON	$34,727,000	–	246,940	–	3.80%	–
PG	New	PROCTER AND GAMBLE CO	$34,119,000	–	285,348	–	3.74%	–
SYK	New	STRYKER CORPORATION	$33,880,000	–	188,022	–	3.71%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$33,086,000	–	307,975	–	3.62%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$33,037,000	–	360,669	–	3.62%	–
WMT	New	WALMART INC	$32,557,000	–	271,805	–	3.56%	–
DIS	New	DISNEY WALT CO	$32,476,000	–	291,240	–	3.56%	–
MDT	New	MEDTRONIC PLC	$32,311,000	–	352,353	–	3.54%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$32,057,000	–	756,234	–	3.51%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,138,000	–	8	–	0.23%	–
TGT	New	TARGET CORP	$1,175,000	–	9,799	–	0.13%	–
OMC	New	OMNICOM GROUP INC	$1,021,000	–	18,701	–	0.11%	–
MCD	New	MCDONALDS CORP	$674,000	–	3,656	–	0.07%	–
AAPL	New	APPLE INC	$649,000	–	1,780	–	0.07%	–
MMM	New	3M CO	$631,000	–	4,047	–	0.07%	–
PEP	New	PEPSICO INC	$602,000	–	4,550	–	0.07%	–
HD	New	HOME DEPOT INC	$487,000	–	1,946	–	0.05%	–
LW	New	LAMB WESTON HLDGS INC	$441,000	–	6,900	–	0.05%	–
GIS	New	GENERAL MLS INC	$372,000	–	6,028	–	0.04%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$295,000	–	956	–	0.03%	–
CNI	New	CANADIAN NATL RY CO	$225,000	–	2,535	–	0.02%	–

Q4 2019

			Value		Shares		↓ Weighting
MRK	Exit	MERCK & CO INC	$0	–	-2,598	–	-0.03%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-1,985	–	-0.03%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-2,535	–	-0.03%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-1,000	–	-0.04%	–
AAPL	Exit	APPLE INC	$0	–	-1,754	–	-0.05%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,946	–	-0.05%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-3,895	–	-0.05%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-7,421	–	-0.06%	–
PEP	Exit	PEPSICO INC	$0	–	-4,635	–	-0.07%	–
MMM	Exit	3M CO	$0	–	-4,212	–	-0.08%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,656	–	-0.09%	–
TGT	Exit	TARGET CORP	$0	–	-11,249	–	-0.14%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-17,190	–	-0.16%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.29%	–
FDX	Exit	FEDEX CORP	$0	–	-194,954	–	-3.32%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-491,870	–	-3.47%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-328,745	–	-3.55%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-282,264	–	-3.61%	–
SNA	Exit	SNAP ON INC	$0	–	-200,042	–	-3.66%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-243,824	–	-3.69%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-584,682	–	-3.78%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-436,191	–	-3.79%	–
QCOM	Exit	QUALCOMM INC	$0	–	-427,374	–	-3.81%	–
DIS	Exit	DISNEY WALT CO	$0	–	-251,332	–	-3.83%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-440,300	–	-3.87%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-216,088	–	-3.95%	–
FAST	Exit	FASTENAL CO	$0	–	-1,041,050	–	-3.98%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-279,820	–	-4.07%	–
ECL	Exit	ECOLAB INC	$0	–	-176,046	–	-4.08%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-321,403	–	-4.08%	–
V	Exit	VISA INC	$0	–	-204,318	–	-4.11%	–
WMT	Exit	WALMART INC	$0	–	-297,228	–	-4.12%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-184,228	–	-4.14%	–
SYK	Exit	STRYKER CORP	$0	–	-164,272	–	-4.15%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-567,837	–	-4.19%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-250,310	–	-4.23%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-124,287	–	-4.23%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-69,852	–	-4.49%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-284,616	–	-4.63%	–

Q3 2019

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$39,570,000	+1.4%	284,616	-2.3%	4.63%	-0.5%
SHW	Sell	SHERWIN WILLIAMS CO	$38,410,000	+13.7%	69,852	-5.3%	4.49%	+11.5%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$36,201,000	-0.7%	124,287	+0.1%	4.23%	-2.5%
DHR	Buy	DANAHER CORPORATION	$36,152,000	+1.2%	250,310	+0.1%	4.23%	-0.7%
CVS	Buy	CVS HEALTH CORP	$35,813,000	+15.8%	567,837	+0.0%	4.19%	+13.6%
SYK	Sell	STRYKER CORP	$35,532,000	-0.9%	164,272	-5.8%	4.15%	-2.7%
ACN	Sell	ACCENTURE PLC IRELAND	$35,436,000	+0.7%	184,228	-3.3%	4.14%	-1.2%
WMT	Sell	WALMART INC	$35,275,000	+5.2%	297,228	-2.0%	4.12%	+3.3%
V	Sell	VISA INC	$35,145,000	-4.7%	204,318	-3.9%	4.11%	-6.5%
MDT	Sell	MEDTRONIC PLC	$34,911,000	+6.0%	321,403	-5.0%	4.08%	+4.0%
ECL	Sell	ECOLAB INC	$34,864,000	+0.1%	176,046	-0.2%	4.08%	-1.8%
PG	Sell	PROCTER & GAMBLE CO	$34,804,000	+5.7%	279,820	-6.8%	4.07%	+3.7%
FAST	Buy	FASTENAL CO	$34,011,000	+3.1%	1,041,050	+2.9%	3.98%	+1.2%
ITW	Buy	ILLINOIS TOOL WKS INC	$33,816,000	+4.6%	216,088	+0.8%	3.95%	+2.7%
CHD	Sell	CHURCH & DWIGHT INC	$33,128,000	+1.8%	440,300	-1.1%	3.87%	-0.1%
DIS	Buy	DISNEY WALT CO	$32,754,000	-6.4%	251,332	+0.3%	3.83%	-8.1%
QCOM	Buy	QUALCOMM INC	$32,600,000	+1.8%	427,374	+1.6%	3.81%	-0.1%
EXPD	Buy	EXPEDITORS INTL WASH INC	$32,405,000	+1.8%	436,191	+3.9%	3.79%	-0.1%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$32,339,000	+3.3%	584,682	+2.1%	3.78%	+1.4%
JNJ	Buy	JOHNSON & JOHNSON	$31,546,000	+0.4%	243,824	+8.1%	3.69%	-1.5%
SNA	Buy	SNAP ON INC	$31,315,000	+1.2%	200,042	+7.1%	3.66%	-0.7%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$30,908,000	+1.8%	282,264	+7.4%	3.61%	-0.1%
ICE	New	INTERCONTINENTAL EXCHANGE IN	$30,333,000	–	328,745	–	3.55%	–
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$29,643,000	-2.9%	491,870	+2.1%	3.47%	-4.7%
FDX	Buy	FEDEX CORP	$28,379,000	-5.9%	194,954	+6.1%	3.32%	-7.7%
TGT	Sell	TARGET CORP	$1,203,000	+22.4%	11,249	-0.9%	0.14%	+20.5%
MMM	Buy	3M CO	$692,000	-4.2%	4,212	+1.1%	0.08%	-5.8%
PEP	Buy	PEPSICO INC	$635,000	+10.1%	4,635	+5.3%	0.07%	+7.2%
CVX	Sell	CHEVRON CORP NEW	$462,000	-6.7%	3,895	-2.0%	0.05%	-8.5%
SPY	New	SPDR S&P 500 ETF TRtr unit	$297,000	–	1,000	–	0.04%	–
MRK	Buy	MERCK & CO INC	$219,000	+4.3%	2,598	+3.9%	0.03%	+4.0%
PFE	Exit	PFIZER INC	$0	–	-4,974	–	-0.03%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-8,360	–	-0.03%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-861,930	–	-3.57%	–

Q2 2019

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$39,015,000	–	291,242	–	4.65%	–
V	New	VISA INC	$36,897,000	–	212,603	–	4.40%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$36,455,000	–	124,132	–	4.34%	–
SYK	New	STRYKER CORP	$35,839,000	–	174,331	–	4.27%	–
DHR	New	DANAHER CORPORATION	$35,740,000	–	250,068	–	4.26%	–
ACN	New	ACCENTURE PLC IRELAND	$35,198,000	–	190,494	–	4.19%	–
DIS	New	DISNEY WALT CO	$34,993,000	–	250,592	–	4.17%	–
ECL	New	ECOLAB INC	$34,832,000	–	176,420	–	4.15%	–
SHW	New	SHERWIN WILLIAMS CO	$33,794,000	–	73,739	–	4.03%	–
WMT	New	WALMART INC	$33,526,000	–	303,426	–	3.99%	–
FAST	New	FASTENAL CO	$32,981,000	–	1,012,003	–	3.93%	–
MDT	New	MEDTRONIC PLC	$32,933,000	–	338,160	–	3.92%	–
PG	New	PROCTER AND GAMBLE CO	$32,919,000	–	300,220	–	3.92%	–
CHD	New	CHURCH & DWIGHT INC	$32,537,000	–	445,350	–	3.88%	–
ITW	New	ILLINOIS TOOL WKS INC	$32,325,000	–	214,341	–	3.85%	–
QCOM	New	QUALCOMM INC	$32,010,000	–	420,795	–	3.81%	–
EXPD	New	EXPEDITORS INTL WASH INC	$31,836,000	–	419,668	–	3.79%	–
JNJ	New	JOHNSON & JOHNSON	$31,430,000	–	225,658	–	3.74%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$31,307,000	–	572,659	–	3.73%	–
SNA	New	SNAP ON INC	$30,943,000	–	186,806	–	3.69%	–
CVS	New	CVS HEALTH CORP	$30,931,000	–	567,653	–	3.68%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$30,531,000	–	481,634	–	3.64%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$30,376,000	–	262,742	–	3.62%	–
FDX	New	FEDEX CORP	$30,170,000	–	183,750	–	3.59%	–
BEN	New	FRANKLIN RES INC	$29,995,000	–	861,930	–	3.57%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,547,000	–	8	–	0.30%	–
OMC	New	OMNICOM GROUP INC	$1,409,000	–	17,190	–	0.17%	–
TGT	New	TARGET CORP	$983,000	–	11,350	–	0.12%	–
MCD	New	MCDONALDS CORP	$759,000	–	3,656	–	0.09%	–
MMM	New	3M CO	$722,000	–	4,168	–	0.09%	–
PEP	New	PEPSICO INC	$577,000	–	4,400	–	0.07%	–
CVX	New	CHEVRON CORP NEW	$495,000	–	3,975	–	0.06%	–
LW	New	LAMB WESTON HLDGS INC	$470,000	–	7,421	–	0.06%	–
HD	New	HOME DEPOT INC	$405,000	–	1,946	–	0.05%	–
AAPL	New	APPLE INC	$347,000	–	1,754	–	0.04%	–
AXP	New	AMERICAN EXPRESS CO	$245,000	–	1,985	–	0.03%	–
FITB	New	FIFTH THIRD BANCORP	$233,000	–	8,360	–	0.03%	–
CNI	New	CANADIAN NATL RY CO	$234,000	–	2,535	–	0.03%	–
PFE	New	PFIZER INC	$215,000	–	4,974	–	0.03%	–
MRK	New	MERCK & CO INC	$210,000	–	2,500	–	0.02%	–

Q4 2018

			Value		Shares		↓ Weighting
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-1,985	–	-0.03%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-2,535	–	-0.03%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-8,360	–	-0.03%	–
PFE	Exit	PFIZER INC	$0	–	-5,424	–	-0.03%	–
GWW	Exit	GRAINGER W W INC	$0	–	-730	–	-0.03%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-5,158	–	-0.04%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-11,100	–	-0.05%	–
AAPL	Exit	APPLE INC	$0	–	-2,053	–	-0.06%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,372	–	-0.06%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-4,073	–	-0.06%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-8,153	–	-0.07%	–
PEP	Exit	PEPSICO INC	$0	–	-5,419	–	-0.08%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,156	–	-0.09%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-9,794	–	-0.11%	–
MMM	Exit	3M CO	$0	–	-4,041	–	-0.11%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-17,945	–	-0.16%	–
TGT	Exit	TARGET CORP	$0	–	-14,155	–	-0.16%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.34%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-838,824	–	-3.34%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-324,954	–	-3.54%	–
WMT	Exit	WALMART INC	$0	–	-297,952	–	-3.67%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-200,405	–	-3.70%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-367,353	–	-3.71%	–
FDX	Exit	FEDEX CORP	$0	–	-118,717	–	-3.74%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-389,983	–	-3.76%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-211,711	–	-3.83%	–
QCOM	Exit	QUALCOMM INC	$0	–	-408,729	–	-3.86%	–
SNA	Exit	SNAP ON INC	$0	–	-161,288	–	-3.88%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-252,044	–	-3.89%	–
FAST	Exit	FASTENAL CO	$0	–	-512,939	–	-3.90%	–
DIS	Exit	DISNEY WALT CO	$0	–	-256,231	–	-3.93%	–
ECL	Exit	ECOLAB INC	$0	–	-194,445	–	-3.99%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-282,047	–	-4.02%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-312,346	–	-4.02%	–
SYK	Exit	STRYKER CORP	$0	–	-173,375	–	-4.04%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-423,049	–	-4.04%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-522,092	–	-4.06%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-184,027	–	-4.10%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-398,757	–	-4.11%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-69,891	–	-4.17%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-132,881	–	-4.25%	–
V	Exit	VISA INC	$0	–	-219,223	–	-4.31%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-305,928	–	-4.58%	–

Q3 2018

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$34,989,000	+12.2%	305,928	-3.3%	4.58%	+1.0%
V	Sell	VISA INC	$32,903,000	+9.7%	219,223	-3.2%	4.31%	-1.2%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$32,434,000	+16.2%	132,881	-1.4%	4.25%	+4.6%
SHW	Sell	SHERWIN WILLIAMS CO	$31,815,000	+7.7%	69,891	-3.6%	4.17%	-3.0%
CVS	Sell	CVS HEALTH CORP	$31,390,000	+19.5%	398,757	-2.3%	4.11%	+7.6%
ACN	Sell	ACCENTURE PLC IRELAND	$31,321,000	+3.0%	184,027	-1.0%	4.10%	-7.3%
CHD	Sell	CHURCH & DWIGHT INC	$30,997,000	+4.9%	522,092	-6.1%	4.06%	-5.5%
WBA	New	WALGREENS BOOTS ALLIANCE INC	$30,840,000	–	423,049	–	4.04%	–
SYK	Buy	STRYKER CORP	$30,805,000	+6.5%	173,375	+1.2%	4.04%	-4.1%
MDT	Sell	MEDTRONIC PLC	$30,725,000	+13.0%	312,346	-1.7%	4.02%	+1.7%
DHR	Buy	DANAHER CORP DEL	$30,647,000	+10.7%	282,047	+0.6%	4.02%	-0.3%
ECL	Sell	ECOLAB INC	$30,485,000	+11.3%	194,445	-0.4%	3.99%	+0.2%
DIS	Buy	DISNEY WALT CO	$29,964,000	+12.7%	256,231	+1.0%	3.93%	+1.5%
FAST	Sell	FASTENAL CO	$29,761,000	+19.1%	512,939	-1.2%	3.90%	+7.3%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$29,658,000	+16.8%	252,044	-3.0%	3.89%	+5.2%
SNA	Sell	SNAP ON INC	$29,612,000	+8.7%	161,288	-4.8%	3.88%	-2.1%
QCOM	Sell	QUALCOMM INC	$29,441,000	+18.5%	408,729	-7.7%	3.86%	+6.7%
JNJ	Buy	JOHNSON & JOHNSON	$29,252,000	+14.8%	211,711	+0.8%	3.83%	+3.3%
EXPD	Buy	EXPEDITORS INTL WASH INC	$28,675,000	+1.2%	389,983	+0.7%	3.76%	-8.8%
FDX	Buy	FEDEX CORP	$28,586,000	+9.8%	118,717	+3.5%	3.74%	-1.1%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$28,341,000	+5.0%	367,353	+7.5%	3.71%	-5.5%
ITW	Buy	ILLINOIS TOOL WKS INC	$28,281,000	+10.8%	200,405	+8.7%	3.70%	-0.3%
WMT	Buy	WALMART INC	$27,981,000	+10.6%	297,952	+0.9%	3.67%	-0.4%
PG	Buy	PROCTER AND GAMBLE CO	$27,046,000	+8.0%	324,954	+1.3%	3.54%	-2.8%
BEN	Buy	FRANKLIN RES INC	$25,509,000	+6.7%	838,824	+12.4%	3.34%	-4.0%
TGT	Sell	TARGET CORP	$1,249,000	+14.3%	14,155	-1.4%	0.16%	+3.1%
XOM	Sell	EXXON MOBIL CORP	$833,000	-2.1%	9,794	-4.8%	0.11%	-12.1%
MCD	Buy	MCDONALDS CORP	$695,000	+21.3%	4,156	+13.7%	0.09%	+9.6%
HD	Buy	HOME DEPOT INC	$491,000	+29.2%	2,372	+21.9%	0.06%	+16.4%
AAPL	Buy	APPLE INC	$463,000	+42.5%	2,053	+17.0%	0.06%	+29.8%
WFC	Sell	WELLS FARGO CO NEW	$271,000	-27.2%	5,158	-23.2%	0.04%	-33.3%
GWW	New	GRAINGER W W INC	$261,000	–	730	–	0.03%	–
FITB	New	FIFTH THIRD BANCORP	$233,000	–	8,360	–	0.03%	–
PFE	New	PFIZER INC	$239,000	–	5,424	–	0.03%	–
AXP	New	AMERICAN EXPRESS CO	$211,000	–	1,985	–	0.03%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-333,890	–	-3.67%	–

Q2 2018

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$31,187,000	–	316,267	–	4.54%	–
ACN	New	ACCENTURE PLC IRELAND	$30,423,000	–	185,969	–	4.43%	–
V	New	VISA INC	$29,997,000	–	226,477	–	4.36%	–
CHD	New	CHURCH & DWIGHT INC	$29,544,000	–	555,749	–	4.30%	–
SHW	New	SHERWIN WILLIAMS CO	$29,540,000	–	72,478	–	4.30%	–
SYK	New	STRYKER CORP	$28,931,000	–	171,331	–	4.21%	–
EXPD	New	EXPEDITORS INTL WASH INC	$28,323,000	–	387,451	–	4.12%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$27,923,000	–	134,801	–	4.06%	–
DHR	New	DANAHER CORP DEL	$27,674,000	–	280,440	–	4.03%	–
ECL	New	ECOLAB INC	$27,385,000	–	195,149	–	3.98%	–
SNA	New	SNAP ON INC	$27,236,000	–	169,460	–	3.96%	–
MDT	New	MEDTRONIC PLC	$27,200,000	–	317,714	–	3.96%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$27,000,000	–	341,812	–	3.93%	–
DIS	New	DISNEY WALT CO	$26,592,000	–	253,713	–	3.87%	–
CVS	New	CVS HEALTH CORP	$26,261,000	–	408,093	–	3.82%	–
FDX	New	FEDEX CORP	$26,033,000	–	114,651	–	3.79%	–
ITW	New	ILLINOIS TOOL WKS INC	$25,533,000	–	184,300	–	3.72%	–
JNJ	New	JOHNSON & JOHNSON	$25,489,000	–	210,066	–	3.71%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$25,389,000	–	259,921	–	3.69%	–
WMT	New	WALMART INC	$25,300,000	–	295,385	–	3.68%	–
NVS	New	NOVARTIS A Gsponsored adr	$25,222,000	–	333,890	–	3.67%	–
PG	New	PROCTER AND GAMBLE CO	$25,042,000	–	320,810	–	3.64%	–
FAST	New	FASTENAL CO	$24,978,000	–	518,968	–	3.64%	–
QCOM	New	QUALCOMM INC	$24,839,000	–	442,606	–	3.61%	–
BEN	New	FRANKLIN RES INC	$23,913,000	–	746,126	–	3.48%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,256,000	–	8	–	0.33%	–
OMC	New	OMNICOM GROUP INC	$1,369,000	–	17,945	–	0.20%	–
TGT	New	TARGET CORP	$1,093,000	–	14,363	–	0.16%	–
XOM	New	EXXON MOBIL CORP	$851,000	–	10,286	–	0.12%	–
MMM	New	3M CO	$795,000	–	4,041	–	0.12%	–
PEP	New	PEPSICO INC	$590,000	–	5,419	–	0.09%	–
MCD	New	MCDONALDS CORP	$573,000	–	3,656	–	0.08%	–
LW	New	LAMB WESTON HLDGS INC	$559,000	–	8,153	–	0.08%	–
CVX	New	CHEVRON CORP NEW	$515,000	–	4,073	–	0.08%	–
CAG	New	CONAGRA BRANDS INC	$397,000	–	11,100	–	0.06%	–
HD	New	HOME DEPOT INC	$380,000	–	1,946	–	0.06%	–
WFC	New	WELLS FARGO CO NEW	$372,000	–	6,713	–	0.05%	–
AAPL	New	APPLE INC	$325,000	–	1,754	–	0.05%	–
CNI	New	CANADIAN NATL RY CO	$207,000	–	2,535	–	0.03%	–

Q4 2017

			Value		Shares		↓ Weighting
CNI	Exit	CANADIAN NATL RY CO	$0	–	-2,535	–	-0.03%	–
AAPL	Exit	APPLE INC	$0	–	-1,754	–	-0.04%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-8,153	–	-0.06%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,388	–	-0.06%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-8,858	–	-0.08%	–
PEP	Exit	PEPSICO INC	$0	–	-5,419	–	-0.10%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-5,248	–	-0.10%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-21,800	–	-0.12%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,686	–	-0.12%	–
MMM	Exit	3M CO	$0	–	-4,958	–	-0.16%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-13,272	–	-0.17%	–
TGT	Exit	TARGET CORP	$0	–	-20,104	–	-0.19%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-16,761	–	-0.20%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.35%	–
QCOM	Exit	QUALCOMM INC	$0	–	-422,910	–	-3.48%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-289,922	–	-3.58%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-249,589	–	-3.61%	–
DIS	Exit	DISNEY WALT CO	$0	–	-231,908	–	-3.63%	–
JCI	Exit	JOHNSON CTLS INTL PLC	$0	–	-572,111	–	-3.66%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-300,138	–	-3.73%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-280,023	–	-3.82%	–
ECL	Exit	ECOLAB INC	$0	–	-187,076	–	-3.82%	–
FAST	Exit	FASTENAL CO	$0	–	-529,064	–	-3.83%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-185,499	–	-3.83%	–
BCR	Exit	BARD C R INC	$0	–	-75,698	–	-3.85%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-283,838	–	-3.87%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-301,429	–	-3.89%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-553,798	–	-3.92%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-421,904	–	-4.01%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-349,801	–	-4.03%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-222,664	–	-4.03%	–
SYK	Exit	STRYKER CORP	$0	–	-180,322	–	-4.07%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-191,809	–	-4.12%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-138,493	–	-4.16%	–
V	Exit	VISA INC	$0	–	-249,535	–	-4.17%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-73,738	–	-4.19%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-180,234	–	-4.24%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-366,034	–	-4.33%	–
FDX	Exit	FEDEX CORP	$0	–	-121,082	–	-4.34%	–

Q3 2017

			Value		Shares		↓ Weighting
FDX	Sell	FEDEX CORP	$27,314,000	+3.6%	121,082	-0.2%	4.34%	+1.0%
MSFT	Sell	MICROSOFT CORP	$27,266,000	+5.4%	366,034	-2.4%	4.33%	+2.8%
ITW	Sell	ILLINOIS TOOL WKS INC	$26,667,000	+2.9%	180,234	-0.4%	4.24%	+0.3%
SHW	Buy	SHERWIN WILLIAMS CO	$26,401,000	+2.7%	73,738	+0.7%	4.19%	+0.1%
V	Sell	VISA INC	$26,261,000	+6.4%	249,535	-5.2%	4.17%	+3.8%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$26,203,000	+4.0%	138,493	-4.1%	4.16%	+1.5%
ACN	Sell	ACCENTURE PLC IRELAND	$25,908,000	+7.5%	191,809	-1.5%	4.12%	+4.9%
SYK	Buy	STRYKER CORP	$25,609,000	+2.5%	180,322	+0.1%	4.07%	-0.1%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$25,388,000	+4.5%	222,664	-0.0%	4.03%	+1.9%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$25,375,000	+3.5%	349,801	-5.2%	4.03%	+1.0%
EXPD	Buy	EXPEDITORS INTL WASH INC	$25,255,000	+6.1%	421,904	+0.1%	4.01%	+3.5%
BEN	Buy	FRANKLIN RES INC	$24,650,000	+0.3%	553,798	+1.0%	3.92%	-2.2%
CVS	Buy	CVS HEALTH CORP	$24,512,000	+3.4%	301,429	+2.3%	3.89%	+0.8%
NVS	Buy	NOVARTIS A Gsponsored adr	$24,367,000	+3.3%	283,838	+0.5%	3.87%	+0.8%
BCR	Sell	BARD C R INC	$24,261,000	-2.1%	75,698	-3.5%	3.85%	-4.6%
FAST	Buy	FASTENAL CO	$24,115,000	+7.5%	529,064	+2.7%	3.83%	+4.8%
JNJ	Buy	JOHNSON & JOHNSON	$24,117,000	-1.0%	185,499	+0.7%	3.83%	-3.5%
ECL	Buy	ECOLAB INC	$24,060,000	-1.7%	187,076	+1.5%	3.82%	-4.1%
DHR	Buy	DANAHER CORP DEL	$24,020,000	+5.0%	280,023	+3.3%	3.82%	+2.4%
WMT	Sell	WAL-MART STORES INC	$23,453,000	+1.0%	300,138	-2.2%	3.73%	-1.5%
JCI	Buy	JOHNSON CTLS INTL PLC	$23,050,000	+3.3%	572,111	+11.1%	3.66%	+0.7%
DIS	Buy	DISNEY WALT CO	$22,859,000	-2.3%	231,908	+5.3%	3.63%	-4.8%
PG	Buy	PROCTER AND GAMBLE CO	$22,708,000	+6.2%	249,589	+1.7%	3.61%	+3.6%
MDT	New	MEDTRONIC PLC	$22,547,000	–	289,922	–	3.58%	–
QCOM	Buy	QUALCOMM INC	$21,924,000	+2.1%	422,910	+8.8%	3.48%	-0.4%
TGT	Sell	TARGET CORP	$1,186,000	+10.4%	20,104	-2.1%	0.19%	+7.4%
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,223	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-1,699	–	-0.04%	–
MRK	Exit	Merck & Co Inc	$0	–	-3,396	–	-0.04%	–
	Exit	Medtronic PLC	$0	–	-273,111	–	-3.95%	–

Q2 2017

			Value		Shares		↓ Weighting
FDX	New	FEDEX CORP	$26,358,000	–	121,279	–	4.29%	–
ITW	New	ILLINOIS TOOL WKS INC	$25,914,000	–	180,899	–	4.22%	–
MSFT	New	MICROSOFT CORP	$25,861,000	–	375,179	–	4.21%	–
SHW	New	SHERWIN WILLIAMS CO	$25,709,000	–	73,253	–	4.19%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$25,186,000	–	144,357	–	4.10%	–
SYK	New	STRYKER CORP	$24,989,000	–	180,064	–	4.07%	–
BCR	New	BARD C R INC	$24,792,000	–	78,427	–	4.04%	–
V	New	VISA INC	$24,674,000	–	263,109	–	4.02%	–
BEN	New	FRANKLIN RES INC	$24,569,000	–	548,533	–	4.00%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$24,508,000	–	369,093	–	3.99%	–
ECL	New	ECOLAB INC	$24,468,000	–	184,319	–	3.99%	–
JNJ	New	JOHNSON & JOHNSON	$24,362,000	–	184,154	–	3.97%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$24,291,000	–	222,692	–	3.96%	–
	New	Medtronic PLC	$24,239,000	–	273,111	–	3.95%	–
ACN	New	ACCENTURE PLC IRELAND	$24,095,000	–	194,817	–	3.92%	–
EXPD	New	EXPEDITORS INTL WASH INC	$23,802,000	–	421,432	–	3.88%	–
CVS	New	CVS HEALTH CORP	$23,713,000	–	294,714	–	3.86%	–
NVS	New	NOVARTIS A Gsponsored adr	$23,583,000	–	282,530	–	3.84%	–
DIS	New	DISNEY WALT CO	$23,406,000	–	220,293	–	3.81%	–
WMT	New	WAL-MART STORES INC	$23,222,000	–	306,848	–	3.78%	–
DHR	New	DANAHER CORP DEL	$22,874,000	–	271,055	–	3.73%	–
FAST	New	FASTENAL CO	$22,433,000	–	515,353	–	3.66%	–
JCI	New	JOHNSON CTLS INTL PLC	$22,323,000	–	514,828	–	3.64%	–
QCOM	New	QUALCOMM INC	$21,467,000	–	388,749	–	3.50%	–
PG	New	PROCTER AND GAMBLE CO	$21,380,000	–	245,320	–	3.48%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,038,000	–	8	–	0.33%	–
OMC	New	OMNICOM GROUP INC	$1,389,000	–	16,761	–	0.23%	–
TGT	New	TARGET CORP	$1,074,000	–	20,539	–	0.18%	–
XOM	New	EXXON MOBIL CORP	$1,071,000	–	13,272	–	0.17%	–
MMM	New	3M CO	$1,032,000	–	4,958	–	0.17%	–
CAG	New	CONAGRA BRANDS INC	$780,000	–	21,800	–	0.13%	–
MCD	New	MCDONALDS CORP	$718,000	–	4,686	–	0.12%	–
PEP	New	PEPSICO INC	$626,000	–	5,419	–	0.10%	–
CVX	New	CHEVRON CORP NEW	$548,000	–	5,248	–	0.09%	–
WFC	New	WELLS FARGO CO NEW	$491,000	–	8,858	–	0.08%	–
HD	New	HOME DEPOT INC	$366,000	–	2,388	–	0.06%	–
LW	New	LAMB WESTON HLDGS INC	$359,000	–	8,153	–	0.06%	–
AAPL	New	APPLE INC	$253,000	–	1,754	–	0.04%	–
KMB	New	KIMBERLY CLARK CORP	$219,000	–	1,699	–	0.04%	–
MRK	New	Merck & Co Inc	$218,000	–	3,396	–	0.04%	–
SLB	New	SCHLUMBERGER LTD	$212,000	–	3,223	–	0.04%	–
CNI	New	CANADIAN NATL RY CO	$205,000	–	2,535	–	0.03%	–

Q4 2016

			Value		Shares		↓ Weighting
SLB	Exit	SCHLUMBERGER LTD	$0	–	-2,723	–	-0.04%	–
AAPL	Exit	APPLE INC	$0	–	-1,964	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,189	–	-0.05%	–
DIS	Exit	DISNEY WALT CO	$0	–	-3,252	–	-0.06%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,759	–	-0.07%	–
PFE	Exit	PFIZER INC	$0	–	-13,124	–	-0.08%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-5,248	–	-0.10%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,686	–	-0.10%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-12,674	–	-0.10%	–
PEP	Exit	PEPSICO INC	$0	–	-5,419	–	-0.11%	–
MMM	Exit	3M CO	$0	–	-4,425	–	-0.15%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-13,073	–	-0.21%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-16,146	–	-0.26%	–
TGT	Exit	TARGET CORP	$0	–	-21,457	–	-0.28%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.32%	–
CAG	Exit	CONAGRA FOODS INC	$0	–	-38,065	–	-0.34%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-364,447	–	-3.26%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-218,041	–	-3.64%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-545,833	–	-3.64%	–
FAST	Exit	FASTENAL CO	$0	–	-467,386	–	-3.67%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-251,865	–	-3.67%	–
JCI	Exit	JOHNSON CTLS INTL PLC	$0	–	-424,514	–	-3.71%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-250,715	–	-3.72%	–
GWW	Exit	GRAINGER W W INC	$0	–	-88,908	–	-3.75%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-277,835	–	-3.76%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-256,992	–	-3.78%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-225,748	–	-3.80%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-73,943	–	-3.84%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-176,940	–	-3.92%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-405,941	–	-3.93%	–
BCR	Exit	BARD C R INC	$0	–	-94,235	–	-3.97%	–
	Exit	Medtronic PLC	$0	–	-245,006	–	-3.97%	–
ECL	Exit	ECOLAB INC	$0	–	-176,594	–	-4.04%	–
SYK	Exit	STRYKER CORP	$0	–	-185,342	–	-4.05%	–
V	Exit	VISA INC	$0	–	-264,138	–	-4.10%	–
FDX	Exit	FEDEX CORP	$0	–	-125,143	–	-4.10%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-388,940	–	-4.21%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-142,095	–	-4.24%	–
QCOM	Exit	QUALCOMM INC	$0	–	-333,615	–	-4.29%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-187,331	–	-4.30%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-191,827	–	-4.32%	–

Q3 2016

			Value		Shares		↓ Weighting
ITW	Sell	ILLINOIS TOOL WKS INC	$22,989,000	+7.0%	191,827	-7.0%	4.32%	+5.1%
ACN	Sell	ACCENTURE PLC IRELAND	$22,886,000	+7.8%	187,331	-0.0%	4.30%	+5.8%
QCOM	Sell	QUALCOMM INC	$22,853,000	+19.7%	333,615	-6.4%	4.29%	+17.6%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$22,602,000	+6.1%	142,095	-1.5%	4.24%	+4.1%
MSFT	Sell	MICROSOFT CORP	$22,403,000	+11.2%	388,940	-1.2%	4.21%	+9.2%
FDX	Sell	FEDEX CORP	$21,860,000	+14.5%	125,143	-0.5%	4.10%	+12.4%
V	Sell	VISA INC	$21,844,000	+11.0%	264,138	-0.4%	4.10%	+9.0%
SYK	Sell	STRYKER CORP	$21,576,000	-5.0%	185,342	-2.2%	4.05%	-6.7%
ECL	Buy	ECOLAB INC	$21,495,000	+3.0%	176,594	+0.4%	4.04%	+1.2%
	Sell	Medtronic PLC	$21,169,000	-3.5%	245,006	-3.1%	3.97%	-5.3%
BCR	Sell	BARD C R INC	$21,135,000	-7.6%	94,235	-3.1%	3.97%	-9.2%
EXPD	Buy	EXPEDITORS INTL WASH INC	$20,914,000	+5.5%	405,941	+0.4%	3.93%	+3.6%
JNJ	Sell	JOHNSON & JOHNSON	$20,902,000	-5.1%	176,940	-2.6%	3.92%	-6.8%
SHW	Buy	SHERWIN WILLIAMS CO	$20,457,000	-5.6%	73,943	+0.2%	3.84%	-7.3%
PG	Buy	PROCTER AND GAMBLE CO	$20,261,000	+6.6%	225,748	+0.5%	3.80%	+4.6%
DHR	Buy	DANAHER CORP DEL	$20,146,000	-6.9%	256,992	+20.0%	3.78%	-8.6%
WMT	Buy	WAL-MART STORES INC	$20,037,000	-0.2%	277,835	+1.1%	3.76%	-2.0%
GWW	Buy	GRAINGER W W INC	$19,990,000	+2.0%	88,908	+3.1%	3.75%	+0.1%
NVS	Buy	NOVARTIS A Gsponsored adr	$19,796,000	-2.9%	250,715	+1.4%	3.72%	-4.7%
JCI	New	JOHNSON CTLS INTL PLC	$19,753,000	–	424,514	–	3.71%	–
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$19,547,000	+5.7%	251,865	+8.6%	3.67%	+3.8%
FAST	Buy	FASTENAL CO	$19,527,000	-1.5%	467,386	+4.6%	3.67%	-3.3%
BEN	Buy	FRANKLIN RES INC	$19,415,000	+11.0%	545,833	+4.1%	3.64%	+9.0%
CVS	Buy	CVS HEALTH CORP	$19,403,000	-2.6%	218,041	+4.8%	3.64%	-4.4%
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$17,388,000	–	364,447	–	3.26%	–
TGT	Sell	TARGET CORP	$1,474,000	-2.1%	21,457	-0.5%	0.28%	-3.8%
MMM	Sell	3M CO	$780,000	-3.7%	4,425	-4.4%	0.15%	-5.8%
PEP	Sell	PEPSICO INC	$589,000	+0.3%	5,419	-2.3%	0.11%	-0.9%
MCD	Sell	MCDONALDS CORP	$541,000	-6.7%	4,686	-2.7%	0.10%	-8.1%
CVX	Buy	CHEVRON CORP NEW	$540,000	-1.6%	5,248	+0.3%	0.10%	-3.8%
PFE	Sell	PFIZER INC	$445,000	-6.9%	13,124	-3.3%	0.08%	-7.7%
HD	Sell	HOME DEPOT INC	$355,000	-14.7%	2,759	-15.3%	0.07%	-16.2%
AAPL	Sell	APPLE INC	$222,000	-6.3%	1,964	-20.8%	0.04%	-6.7%
SLB	Sell	SCHLUMBERGER LTD	$214,000	-7.4%	2,723	-6.6%	0.04%	-9.1%
ORCL	Exit	ORACLE CORP	$0	–	-473,504	–	-3.71%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-464,819	–	-3.93%	–

Q2 2016

			Value		Shares		↓ Weighting
BCR	New	BARD C R INC	$22,868,000	–	97,243	–	4.37%	–
SYK	New	STRYKER CORP	$22,700,000	–	189,434	–	4.34%	–
JNJ	New	JOHNSON & JOHNSON	$22,031,000	–	181,625	–	4.21%	–
	New	Medtronic PLC	$21,941,000	–	252,865	–	4.20%	–
SHW	New	SHERWIN WILLIAMS CO	$21,666,000	–	73,775	–	4.14%	–
DHR	New	DANAHER CORP DEL	$21,639,000	–	214,245	–	4.14%	–
ITW	New	ILLINOIS TOOL WKS INC	$21,478,000	–	206,206	–	4.11%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$21,307,000	–	144,202	–	4.07%	–
ACN	New	ACCENTURE PLC IRELAND	$21,228,000	–	187,376	–	4.06%	–
ECL	New	ECOLAB INC	$20,859,000	–	175,873	–	3.99%	–
JCI	New	JOHNSON CTLS INC	$20,573,000	–	464,819	–	3.93%	–
NVS	New	NOVARTIS A Gsponsored adr	$20,396,000	–	247,197	–	3.90%	–
MSFT	New	MICROSOFT CORP	$20,140,000	–	393,598	–	3.85%	–
WMT	New	WAL-MART STORES INC	$20,076,000	–	274,940	–	3.84%	–
CVS	New	CVS HEALTH CORP	$19,919,000	–	208,052	–	3.81%	–
FAST	New	FASTENAL CO	$19,832,000	–	446,778	–	3.79%	–
EXPD	New	EXPEDITORS INTL WASH INC	$19,828,000	–	404,316	–	3.79%	–
V	New	VISA INC	$19,671,000	–	265,219	–	3.76%	–
GWW	New	GRAINGER W W INC	$19,600,000	–	86,250	–	3.75%	–
ORCL	New	ORACLE CORP	$19,381,000	–	473,504	–	3.71%	–
FDX	New	FEDEX CORP	$19,089,000	–	125,766	–	3.65%	–
QCOM	New	QUALCOMM INC	$19,084,000	–	356,241	–	3.65%	–
PG	New	PROCTER & GAMBLE CO	$19,010,000	–	224,519	–	3.64%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$18,487,000	–	232,015	–	3.54%	–
BEN	New	FRANKLIN RES INC	$17,490,000	–	524,118	–	3.34%	–
CAG	New	CONAGRA FOODS INC	$1,820,000	–	38,065	–	0.35%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,736,000	–	8	–	0.33%	–
TGT	New	TARGET CORP	$1,505,000	–	21,557	–	0.29%	–
OMC	New	OMNICOM GROUP INC	$1,316,000	–	16,146	–	0.25%	–
XOM	New	EXXON MOBIL CORP	$1,225,000	–	13,073	–	0.23%	–
MMM	New	3M CO	$810,000	–	4,627	–	0.16%	–
WFC	New	WELLS FARGO & CO NEW	$600,000	–	12,674	–	0.12%	–
PEP	New	PEPSICO INC	$587,000	–	5,544	–	0.11%	–
MCD	New	MCDONALDS CORP	$580,000	–	4,817	–	0.11%	–
CVX	New	CHEVRON CORP NEW	$549,000	–	5,233	–	0.10%	–
PFE	New	PFIZER INC	$478,000	–	13,574	–	0.09%	–
HD	New	HOME DEPOT INC	$416,000	–	3,259	–	0.08%	–
DIS	New	DISNEY WALT CO	$318,000	–	3,252	–	0.06%	–
KMB	New	KIMBERLY CLARK CORP	$301,000	–	2,189	–	0.06%	–
AAPL	New	APPLE INC	$237,000	–	2,480	–	0.04%	–
SLB	New	SCHLUMBERGER LTD	$231,000	–	2,915	–	0.04%	–

Q4 2015

			Value		Shares		↓ Weighting
DCI	Exit	DONALDSON INC	$0	–	-7,500	–	-0.05%	–
AAPL	Exit	APPLE INC	$0	–	-1,885	–	-0.05%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-1,511	–	-0.05%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-3,720	–	-0.05%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,189	–	-0.05%	–
DIS	Exit	DISNEY WALT CO	$0	–	-3,252	–	-0.07%	–
HD	Exit	HOME DEPOT INC	$0	–	-3,227	–	-0.08%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,316	–	-0.10%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-5,460	–	-0.10%	–
PFE	Exit	PFIZER INC	$0	–	-15,645	–	-0.11%	–
PEP	Exit	PEPSICO INC	$0	–	-6,029	–	-0.13%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-14,858	–	-0.17%	–
MMM	Exit	3M CO	$0	–	-5,527	–	-0.18%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-15,992	–	-0.24%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-16,458	–	-0.28%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.35%	–
TGT	Exit	TARGET CORP	$0	–	-21,652	–	-0.38%	–
CAG	Exit	CONAGRA FOODS INC	$0	–	-57,610	–	-0.52%	–
QCOM	Exit	QUALCOMM INC	$0	–	-261,673	–	-3.15%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-391,792	–	-3.28%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-237,383	–	-3.45%	–
ORCL	Exit	ORACLE CORP	$0	–	-438,984	–	-3.56%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-221,579	–	-3.58%	–
FAST	Exit	FASTENAL CO	$0	–	-439,341	–	-3.61%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-393,129	–	-3.65%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-73,074	–	-3.65%	–
FDX	Exit	FEDEX CORP	$0	–	-116,543	–	-3.76%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-181,286	–	-3.80%	–
	Exit	Medtronic PLC	$0	–	-254,592	–	-3.82%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-209,323	–	-3.86%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-189,496	–	-3.91%	–
GWW	Exit	GRAINGER W W INC	$0	–	-81,193	–	-3.92%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-222,017	–	-4.00%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-148,945	–	-4.09%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-412,176	–	-4.09%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-387,826	–	-4.09%	–
ECL	Exit	ECOLAB INC	$0	–	-168,760	–	-4.15%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-194,658	–	-4.21%	–
SYK	Exit	STRYKER CORP	$0	–	-199,960	–	-4.22%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-222,074	–	-4.24%	–
BCR	Exit	BARD C R INC	$0	–	-102,380	–	-4.28%	–
V	Exit	VISA INC	$0	–	-276,922	–	-4.33%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-196,791	–	-4.34%	–

Q3 2015

			Value		Shares		↓ Weighting
ACN	Sell	ACCENTURE PLC IRELAND	$19,337,000	-2.0%	196,791	-3.5%	4.34%	+4.1%
V	Sell	VISA INC	$19,290,000	-1.5%	276,922	-5.1%	4.33%	+4.6%
BCR	Sell	BARD C R INC	$19,074,000	-0.6%	102,380	-8.9%	4.28%	+5.6%
DHR	Sell	DANAHER CORP DEL	$18,923,000	-1.1%	222,074	-0.7%	4.24%	+5.0%
SYK	Sell	STRYKER CORP	$18,816,000	-3.8%	199,960	-2.3%	4.22%	+2.3%
CVS	Sell	CVS HEALTH CORP	$18,781,000	-11.5%	194,658	-3.8%	4.21%	-5.9%
ECL	Buy	ECOLAB INC	$18,516,000	-2.0%	168,760	+1.0%	4.15%	+4.2%
MSFT	Buy	MICROSOFT CORP	$18,243,000	+1.1%	412,176	+0.8%	4.09%	+7.4%
EXPD	Buy	EXPEDITORS INTL WASH INC	$18,247,000	+2.3%	387,826	+0.3%	4.09%	+8.7%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$18,213,000	-4.8%	148,945	+1.0%	4.09%	+1.2%
ADP	Buy	AUTOMATIC DATA PROCESSING IN	$17,841,000	+3.5%	222,017	+3.3%	4.00%	+9.9%
GWW	Buy	GRAINGER W W INC	$17,457,000	-6.6%	81,193	+2.8%	3.92%	-0.7%
NVS	Buy	NOVARTIS A Gsponsored adr	$17,418,000	-6.0%	189,496	+0.6%	3.91%	-0.1%
ITW	Buy	ILLINOIS TOOL WKS INC	$17,229,000	-8.4%	209,323	+2.1%	3.86%	-2.7%
	New	Medtronic PLC	$17,042,000	–	254,592	–	3.82%	–
JNJ	Buy	JOHNSON & JOHNSON	$16,923,000	-3.2%	181,286	+1.0%	3.80%	+2.8%
FDX	Buy	FEDEX CORP	$16,780,000	-12.0%	116,543	+4.1%	3.76%	-6.6%
SHW	Buy	SHERWIN WILLIAMS CO	$16,279,000	-17.0%	73,074	+2.5%	3.65%	-11.8%
JCI	Buy	JOHNSON CTLS INC	$16,260,000	-10.5%	393,129	+7.2%	3.65%	-4.9%
FAST	New	FASTENAL CO	$16,084,000	–	439,341	–	3.61%	–
PG	Buy	PROCTER & GAMBLE CO	$15,940,000	-4.0%	221,579	+4.4%	3.58%	+2.0%
ORCL	Buy	ORACLE CORP	$15,856,000	-6.5%	438,984	+4.3%	3.56%	-0.6%
WMT	Buy	WAL-MART STORES INC	$15,392,000	-4.1%	237,383	+5.0%	3.45%	+1.9%
BEN	Buy	FRANKLIN RES INC	$14,598,000	-13.3%	391,792	+14.1%	3.28%	-7.9%
QCOM	Buy	QUALCOMM INC	$14,060,000	-11.3%	261,673	+3.4%	3.15%	-5.7%
CAG	Sell	CONAGRA FOODS INC	$2,334,000	-24.9%	57,610	-19.0%	0.52%	-20.1%
TGT	Sell	TARGET CORP	$1,703,000	-10.4%	21,652	-7.0%	0.38%	-4.7%
XOM	Buy	EXXON MOBIL CORP	$1,224,000	-10.2%	16,458	+0.5%	0.28%	-4.5%
MCD	Sell	MCDONALDS CORP	$425,000	+0.5%	4,316	-3.1%	0.10%	+6.7%
DIS	Sell	DISNEY WALT CO	$332,000	-15.1%	3,252	-5.1%	0.07%	-10.8%
AAPL	Sell	APPLE INC	$208,000	-12.2%	1,885	-0.3%	0.05%	-6.0%
DCI	Sell	DONALDSON INC	$211,000	-98.8%	7,500	-98.5%	0.05%	-98.7%
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-1,437	–	-0.04%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-4,240	–	-0.05%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,037	–	-0.06%	–
MDT	Exit	Medtronic PLC	$0	–	-254,316	–	-3.98%	–

Q2 2015

			Value		Shares		↓ Weighting
CVS	New	CVS HEALTH CORP	$21,216,000	–	202,292	–	4.48%	–
ACN	New	ACCENTURE PLC IRELAND	$19,734,000	–	203,903	–	4.17%	–
SHW	New	SHERWIN WILLIAMS CO	$19,614,000	–	71,318	–	4.14%	–
V	New	VISA INC	$19,592,000	–	291,758	–	4.14%	–
SYK	New	STRYKER CORP	$19,550,000	–	204,564	–	4.13%	–
BCR	New	BARD C R INC	$19,192,000	–	112,429	–	4.05%	–
DHR	New	DANAHER CORP DEL	$19,140,000	–	223,623	–	4.04%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$19,128,000	–	147,414	–	4.04%	–
FDX	New	FEDEX CORP	$19,079,000	–	111,964	–	4.03%	–
ECL	New	ECOLAB INC	$18,889,000	–	167,056	–	3.99%	–
MDT	New	Medtronic PLC	$18,845,000	–	254,316	–	3.98%	–
ITW	New	ILLINOIS TOOL WKS INC	$18,816,000	–	204,986	–	3.97%	–
GWW	New	GRAINGER W W INC	$18,685,000	–	78,958	–	3.94%	–
NVS	New	NOVARTIS A Gsponsored adr	$18,528,000	–	188,406	–	3.91%	–
JCI	New	JOHNSON CTLS INC	$18,168,000	–	366,804	–	3.84%	–
MSFT	New	MICROSOFT CORP	$18,050,000	–	408,836	–	3.81%	–
EXPD	New	EXPEDITORS INTL WASH INC	$17,830,000	–	386,719	–	3.76%	–
JNJ	New	JOHNSON & JOHNSON	$17,489,000	–	179,445	–	3.69%	–
DCI	New	DONALDSON INC	$17,336,000	–	484,241	–	3.66%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$17,240,000	–	214,876	–	3.64%	–
ORCL	New	ORACLE CORP	$16,957,000	–	420,771	–	3.58%	–
BEN	New	FRANKLIN RES INC	$16,836,000	–	343,378	–	3.55%	–
PG	New	PROCTER & GAMBLE CO	$16,608,000	–	212,275	–	3.51%	–
WMT	New	WAL-MART STORES INC	$16,042,000	–	226,161	–	3.39%	–
QCOM	New	QUALCOMM INC	$15,850,000	–	253,073	–	3.35%	–
CAG	New	CONAGRA FOODS INC	$3,109,000	–	71,110	–	0.66%	–
TGT	New	TARGET CORP	$1,900,000	–	23,270	–	0.40%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,639,000	–	8	–	0.35%	–
XOM	New	EXXON MOBIL CORP	$1,363,000	–	16,384	–	0.29%	–
OMC	New	OMNICOM GROUP INC	$1,111,000	–	15,992	–	0.24%	–
MMM	New	3M CO	$853,000	–	5,527	–	0.18%	–
WFC	New	WELLS FARGO & CO NEW	$836,000	–	14,858	–	0.18%	–
PEP	New	PEPSICO INC	$563,000	–	6,029	–	0.12%	–
PFE	New	PFIZER INC	$525,000	–	15,645	–	0.11%	–
CVX	New	CHEVRON CORP NEW	$527,000	–	5,460	–	0.11%	–
MCD	New	MCDONALDS CORP	$423,000	–	4,454	–	0.09%	–
DIS	New	DISNEY WALT CO	$391,000	–	3,427	–	0.08%	–
HD	New	HOME DEPOT INC	$359,000	–	3,227	–	0.08%	–
SLB	New	SCHLUMBERGER LTD	$262,000	–	3,037	–	0.06%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$246,000	–	1,511	–	0.05%	–
CL	New	COLGATE PALMOLIVE CO	$243,000	–	3,720	–	0.05%	–
EMR	New	EMERSON ELEC CO	$235,000	–	4,240	–	0.05%	–
AAPL	New	APPLE INC	$237,000	–	1,890	–	0.05%	–
KMB	New	KIMBERLY CLARK CORP	$232,000	–	2,189	–	0.05%	–
SIAL	New	SIGMA ALDRICH CORP	$200,000	–	1,437	–	0.04%	–

Q4 2014

			Value		Shares		↓ Weighting
CNI	Exit	CANADIAN NATL RY CO	$0	–	-2,830	–	-0.04%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-1,965	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,189	–	-0.04%	–
	Exit	Fidelity Puritan Fundeq mf	$0	–	-11,088	–	-0.05%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-4,020	–	-0.05%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-4,240	–	-0.05%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,056	–	-0.06%	–
HD	Exit	HOME DEPOT INC	$0	–	-3,429	–	-0.06%	–
	Exit	American New Perspective - Aeq mf	$0	–	-8,527	–	-0.06%	–
DIS	Exit	DISNEY WALT CO	$0	–	-4,315	–	-0.07%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,316	–	-0.08%	–
PFE	Exit	PFIZER INC	$0	–	-15,645	–	-0.09%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,465	–	-0.09%	–
PEP	Exit	PEPSICO INC	$0	–	-6,029	–	-0.11%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-5,460	–	-0.12%	–
	Exit	Fidelity Fundeq mf	$0	–	-15,974	–	-0.13%	–
MMM	Exit	3M CO	$0	–	-5,475	–	-0.15%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-18,543	–	-0.18%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-15,852	–	-0.21%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-14,605	–	-0.26%	–
TGT	Exit	TARGET CORP	$0	–	-23,162	–	-0.28%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.32%	–
CAG	Exit	CONAGRA FOODS INC	$0	–	-79,585	–	-0.51%	–
	Exit	Diamond Hill Lrg Cap Ieq mf	$0	–	-266,999	–	-1.16%	–
	Exit	Parnassus Equity Income Fund-Ieq mf	$0	–	-155,643	–	-1.17%	–
	Exit	Jensen Ieq mf	$0	–	-163,101	–	-1.20%	–
	Exit	Dodge & Cox Stockeq mf	$0	–	-34,951	–	-1.21%	–
	Exit	Vanguard Intl Growtheq mf	$0	–	-305,175	–	-1.33%	–
	Exit	Harbor Internationaleq mf	$0	–	-100,774	–	-1.34%	–
	Exit	Vanguard Institutional Index Feq mf	$0	–	-64,881	–	-2.26%	–
	Exit	Wasatch Small Cap Growth Fundeq mf	$0	–	-280,438	–	-2.71%	–
	Exit	Royce Premier Fund 1eq mf	$0	–	-654,293	–	-2.73%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-369,986	–	-2.89%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-354,762	–	-3.00%	–
QCOM	Exit	QUALCOMM INC	$0	–	-209,316	–	-3.01%	–
ORCL	Exit	ORACLE CORP	$0	–	-411,085	–	-3.03%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-207,595	–	-3.06%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-193,131	–	-3.11%	–
V	Exit	VISA INC	$0	–	-75,968	–	-3.12%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-299,895	–	-3.15%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-202,302	–	-3.17%	–
DCI	Exit	DONALDSON INC	$0	–	-405,419	–	-3.17%	–
	Exit	CR Bard Inc.	$0	–	-115,486	–	-3.17%	–
SYK	Exit	STRYKER CORP	$0	–	-206,998	–	-3.22%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-221,879	–	-3.25%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-205,631	–	-3.29%	–
MDT	Exit	MEDTRONIC INC	$0	–	-276,200	–	-3.29%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-204,147	–	-3.32%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-143,665	–	-3.37%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-165,997	–	-3.41%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-188,673	–	-3.42%	–
ECL	Exit	ECOLAB INC	$0	–	-155,728	–	-3.44%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-81,729	–	-3.45%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-399,133	–	-3.56%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-234,811	–	-3.60%	–
FDX	Exit	FEDEX CORP	$0	–	-116,923	–	-3.63%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-139,968	–	-3.66%	–

Q3 2014

			Value		Shares		↓ Weighting
SIAL	Sell	SIGMA ALDRICH CORP	$19,037,000	+13.0%	139,968	-15.7%	3.66%	+12.5%
FDX	Sell	FEDEX CORP	$18,877,000	+5.3%	116,923	-1.3%	3.63%	+4.8%
CVS	Sell	CVS HEALTH CORP	$18,689,000	+5.2%	234,811	-0.4%	3.60%	+4.7%
MSFT	Sell	MICROSOFT CORP	$18,504,000	+7.0%	399,133	-3.8%	3.56%	+6.5%
SHW	Sell	SHERWIN WILLIAMS CO	$17,898,000	+4.8%	81,729	-1.0%	3.45%	+4.3%
ECL	Sell	ECOLAB INC	$17,882,000	+2.6%	155,728	-0.5%	3.44%	+2.1%
NVS	Sell	NOVARTIS A Gsponsored adr	$17,760,000	+3.6%	188,673	-0.4%	3.42%	+3.1%
JNJ	Buy	JOHNSON & JOHNSON	$17,694,000	+1.9%	165,997	+0.1%	3.41%	+1.5%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$17,484,000	+3.1%	143,665	-0.0%	3.37%	+2.6%
ITW	Buy	ILLINOIS TOOL WKS INC	$17,234,000	-2.4%	204,147	+1.2%	3.32%	-2.8%
MDT	Sell	MEDTRONIC INC	$17,111,000	-4.4%	276,200	-1.6%	3.29%	-4.8%
ADP	Buy	AUTOMATIC DATA PROCESSING IN	$17,084,000	+5.1%	205,631	+0.3%	3.29%	+4.6%
DHR	Buy	DANAHER CORP DEL	$16,858,000	-1.0%	221,879	+2.6%	3.25%	-1.4%
SYK	Buy	STRYKER CORP	$16,715,000	-2.7%	206,998	+1.6%	3.22%	-3.2%
	Sell	CR Bard Inc.	$16,481,000	-0.4%	115,486	-0.2%	3.17%	-0.9%
DCI	Buy	DONALDSON INC	$16,472,000	-1.1%	405,419	+3.0%	3.17%	-1.6%
ACN	Buy	ACCENTURE PLC IRELAND	$16,451,000	+3.3%	202,302	+2.7%	3.17%	+2.8%
BEN	Buy	FRANKLIN RES INC	$16,377,000	-4.1%	299,895	+1.6%	3.15%	-4.5%
V	New	VISA INC	$16,209,000	–	75,968	–	3.12%	–
PG	Buy	PROCTER & GAMBLE CO	$16,173,000	+7.3%	193,131	+0.7%	3.11%	+6.9%
WMT	Buy	WAL-MART STORES INC	$15,875,000	+4.4%	207,595	+2.5%	3.06%	+3.9%
ORCL	Buy	ORACLE CORP	$15,736,000	-3.8%	411,085	+1.8%	3.03%	-4.2%
QCOM	Buy	QUALCOMM INC	$15,651,000	-3.1%	209,316	+2.6%	3.01%	-3.6%
JCI	Buy	JOHNSON CTLS INC	$15,610,000	-8.6%	354,762	+3.8%	3.00%	-9.0%
EXPD	Buy	EXPEDITORS INTL WASH INC	$15,014,000	-7.0%	369,986	+1.3%	2.89%	-7.4%
	Buy	Royce Premier Fund 1eq mf	$14,198,000	-7.3%	654,293	+1.4%	2.73%	-7.7%
	Buy	Wasatch Small Cap Growth Fundeq mf	$14,092,000	-2.5%	280,438	+1.7%	2.71%	-2.9%
	Buy	Vanguard Institutional Index Feq mf	$11,730,000	+1.1%	64,881	+0.5%	2.26%	+0.6%
	Buy	Harbor Internationaleq mf	$6,950,000	-6.1%	100,774	+1.0%	1.34%	-6.5%
	Buy	Vanguard Intl Growtheq mf	$6,927,000	-4.1%	305,175	+0.9%	1.33%	-4.5%
	Sell	Dodge & Cox Stockeq mf	$6,287,000	-0.2%	34,951	-0.9%	1.21%	-0.7%
	Sell	Jensen Ieq mf	$6,261,000	-0.3%	163,101	-0.3%	1.20%	-0.7%
	Sell	Parnassus Equity Income Fund-Ieq mf	$6,095,000	-1.4%	155,643	-0.4%	1.17%	-1.8%
	Sell	Diamond Hill Lrg Cap Ieq mf	$6,040,000	-1.2%	266,999	-0.0%	1.16%	-1.6%
TGT	Sell	TARGET CORP	$1,452,000	-8.0%	23,162	-15.0%	0.28%	-8.2%
MMM	Sell	3M CO	$776,000	-17.5%	5,475	-16.7%	0.15%	-18.1%
	Sell	Fidelity Fundeq mf	$679,000	-8.1%	15,974	-1.9%	0.13%	-8.4%
PEP	Sell	PEPSICO INC	$561,000	-9.4%	6,029	-13.0%	0.11%	-10.0%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$468,000	-8.6%	2,465	-12.7%	0.09%	-9.1%
SLB	Sell	SCHLUMBERGER LTD	$311,000	-31.8%	3,056	-21.0%	0.06%	-31.8%
CNI	New	CANADIAN NATL RY CO	$201,000	–	2,830	–	0.04%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,200	–	-0.04%	–
SYY	Exit	SYSCO CORP	$0	–	-420,922	–	-3.05%	–

Q2 2014

			Value		Shares		↓ Weighting
FDX	New	FEDEX CORP	$17,931,000	–	118,450	–	3.47%	–
MDT	New	MEDTRONIC INC	$17,891,000	–	280,601	–	3.46%	–
CVS	New	CVS CAREMARK CORPORATION	$17,762,000	–	235,663	–	3.44%	–
ITW	New	ILLINOIS TOOL WKS INC	$17,658,000	–	201,662	–	3.42%	–
ECL	New	ECOLAB INC	$17,430,000	–	156,548	–	3.37%	–
JNJ	New	JOHNSON & JOHNSON	$17,356,000	–	165,892	–	3.36%	–
MSFT	New	MICROSOFT CORP	$17,300,000	–	414,878	–	3.35%	–
SYK	New	STRYKER CORP	$17,179,000	–	203,732	–	3.32%	–
NVS	New	NOVARTIS A Gsponsored adr	$17,141,000	–	189,340	–	3.32%	–
SHW	New	SHERWIN WILLIAMS CO	$17,085,000	–	82,572	–	3.30%	–
BEN	New	FRANKLIN RES INC	$17,077,000	–	295,244	–	3.30%	–
JCI	New	JOHNSON CTLS INC	$17,072,000	–	341,928	–	3.30%	–
DHR	New	DANAHER CORP DEL	$17,020,000	–	216,184	–	3.29%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$16,957,000	–	143,707	–	3.28%	–
SIAL	New	SIGMA ALDRICH CORP	$16,848,000	–	166,022	–	3.26%	–
DCI	New	DONALDSON INC	$16,659,000	–	393,632	–	3.22%	–
	New	CR Bard Inc.	$16,553,000	–	115,744	–	3.20%	–
ORCL	New	ORACLE CORP	$16,360,000	–	403,646	–	3.16%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$16,249,000	–	204,953	–	3.14%	–
QCOM	New	QUALCOMM INC	$16,153,000	–	203,954	–	3.12%	–
EXPD	New	EXPEDITORS INTL WASH INC	$16,136,000	–	365,408	–	3.12%	–
ACN	New	ACCENTURE PLC IRELAND	$15,931,000	–	197,066	–	3.08%	–
SYY	New	SYSCO CORP	$15,764,000	–	420,922	–	3.05%	–
	New	Royce Premier Fund 1eq mf	$15,312,000	–	645,274	–	2.96%	–
WMT	New	WAL-MART STORES INC	$15,208,000	–	202,587	–	2.94%	–
PG	New	PROCTER & GAMBLE CO	$15,068,000	–	191,723	–	2.91%	–
	New	Wasatch Small Cap Growth Fundeq mf	$14,453,000	–	275,708	–	2.80%	–
	New	Vanguard Institutional Index Feq mf	$11,600,000	–	64,568	–	2.24%	–
	New	Harbor Internationaleq mf	$7,400,000	–	99,786	–	1.43%	–
	New	Vanguard Intl Growtheq mf	$7,224,000	–	302,503	–	1.40%	–
	New	Dodge & Cox Stockeq mf	$6,301,000	–	35,253	–	1.22%	–
	New	Jensen Ieq mf	$6,279,000	–	163,650	–	1.21%	–
	New	Parnassus Equity Income Fund-Ieq mf	$6,183,000	–	156,217	–	1.20%	–
	New	Diamond Hill Lrg Cap Ieq mf	$6,111,000	–	267,073	–	1.18%	–
CAG	New	CONAGRA FOODS INC	$2,362,000	–	79,585	–	0.46%	–
TGT	New	TARGET CORP	$1,579,000	–	27,246	–	0.30%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,519,000	–	8	–	0.29%	–
XOM	New	EXXON MOBIL CORP	$1,470,000	–	14,605	–	0.28%	–
OMC	New	OMNICOM GROUP INC	$1,129,000	–	15,852	–	0.22%	–
WFC	New	WELLS FARGO & CO NEW	$975,000	–	18,543	–	0.19%	–
MMM	New	3M CO	$941,000	–	6,570	–	0.18%	–
	New	Fidelity Fundeq mf	$739,000	–	16,276	–	0.14%	–
CVX	New	CHEVRON CORP NEW	$713,000	–	5,460	–	0.14%	–
PEP	New	PEPSICO INC	$619,000	–	6,930	–	0.12%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$512,000	–	2,823	–	0.10%	–
PFE	New	PFIZER INC	$464,000	–	15,645	–	0.09%	–
SLB	New	SCHLUMBERGER LTD	$456,000	–	3,868	–	0.09%	–
MCD	New	MCDONALDS CORP	$435,000	–	4,316	–	0.08%	–
DIS	New	DISNEY WALT CO	$370,000	–	4,315	–	0.07%	–
	New	American New Perspective - Aeq mf	$331,000	–	8,527	–	0.06%	–
HD	New	HOME DEPOT INC	$278,000	–	3,429	–	0.05%	–
EMR	New	EMERSON ELEC CO	$281,000	–	4,240	–	0.05%	–
CL	New	COLGATE PALMOLIVE CO	$274,000	–	4,020	–	0.05%	–
	New	Fidelity Puritan Fundeq mf	$249,000	–	11,088	–	0.05%	–
KMB	New	KIMBERLY CLARK CORP	$243,000	–	2,189	–	0.05%	–
UTX	New	UNITED TECHNOLOGIES CORP	$227,000	–	1,965	–	0.04%	–
AXP	New	AMERICAN EXPRESS CO	$209,000	–	2,200	–	0.04%	–

Q4 2013

			Value		Shares		↓ Weighting
	Exit	Credit Suisse Comm. Returneq mf	$0	–	-13,647	–	-0.02%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,189	–	-0.05%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-1,965	–	-0.05%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-2,500	–	-0.05%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-4,020	–	-0.05%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-3,806	–	-0.06%	–
HD	Exit	HOME DEPOT INC	$0	–	-3,604	–	-0.06%	–
DIS	Exit	DISNEY WALT CO	$0	–	-4,315	–	-0.06%	–
	Exit	American New Perspective - Aeq mf	$0	–	-8,527	–	-0.07%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,316	–	-0.09%	–
PEP	Exit	PEPSICO INC	$0	–	-5,614	–	-0.10%	–
MMM	Exit	3M CO	$0	–	-4,868	–	-0.13%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-5,841	–	-0.16%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-4,511	–	-0.19%	–
PFE	Exit	PFIZER INC	$0	–	-29,275	–	-0.19%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-21,338	–	-0.20%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-15,852	–	-0.23%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-14,413	–	-0.28%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-8	–	-0.31%	–
TGT	Exit	TARGET CORP	$0	–	-25,587	–	-0.37%	–
CAG	Exit	CONAGRA FOODS INC	$0	–	-90,730	–	-0.62%	–
	Exit	Dreyfus Appreciationeq mf	$0	–	-113,633	–	-1.24%	–
	Exit	Diamond Hill Lrg Cap Ieq mf	$0	–	-276,247	–	-1.29%	–
	Exit	Dodge & Cox Stockeq mf	$0	–	-38,497	–	-1.31%	–
	Exit	Jensen Ieq mf	$0	–	-167,459	–	-1.33%	–
	Exit	Vanguard Intl Growtheq mf	$0	–	-310,819	–	-1.54%	–
	Exit	Harbor Internationaleq mf	$0	–	-100,969	–	-1.57%	–
	Exit	Vanguard Institutional Index Feq mf	$0	–	-65,417	–	-2.27%	–
SYY	Exit	SYSCO CORP	$0	–	-388,434	–	-2.78%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-168,908	–	-2.87%	–
	Exit	Royce Premier Fundeq mf	$0	–	-574,543	–	-2.93%	–
ORCL	Exit	ORACLE CORP	$0	–	-395,996	–	-2.96%	–
	Exit	Wasatch Small Cap Growth Fundeq mf	$0	–	-258,184	–	-2.98%	–
QCOM	Exit	QUALCOMM INC	$0	–	-197,467	–	-2.99%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-180,213	–	-3.00%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-186,115	–	-3.08%	–
SYK	Exit	STRYKER CORP	$0	–	-205,987	–	-3.13%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-418,929	–	-3.14%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-163,681	–	-3.14%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-277,458	–	-3.16%	–
	Exit	CR Bard Inc.	$0	–	-122,943	–	-3.19%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-164,143	–	-3.20%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-198,472	–	-3.23%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-253,336	–	-3.24%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-188,197	–	-3.25%	–
DCI	Exit	DONALDSON INC	$0	–	-381,632	–	-3.28%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-332,001	–	-3.29%	–
MDT	Exit	MEDTRONIC INC	$0	–	-277,587	–	-3.33%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-81,246	–	-3.33%	–
FDX	Exit	FEDEX CORP	$0	–	-130,241	–	-3.34%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-214,691	–	-3.35%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-359,552	–	-3.36%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-165,192	–	-3.43%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-204,942	–	-3.52%	–
ECL	Exit	ECOLAB INC	$0	–	-162,719	–	-3.62%	–

Q3 2013

			Value		Shares		↓ Weighting
ECL	Sell	ECOLAB INC	$16,070,000	+14.8%	162,719	-1.0%	3.62%	+6.2%
ITW	Sell	ILLINOIS TOOL WKS INC	$15,631,000	+9.7%	204,942	-0.5%	3.52%	+1.5%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$15,222,000	+8.8%	165,192	-0.0%	3.43%	+0.7%
JCI	Sell	JOHNSON CTLS INC	$14,921,000	+10.8%	359,552	-4.4%	3.36%	+2.5%
DHR	Buy	DANAHER CORP DEL	$14,882,000	+9.6%	214,691	+0.1%	3.35%	+1.3%
FDX	Buy	FEDEX CORP	$14,862,000	+17.4%	130,241	+1.4%	3.34%	+8.6%
SHW	Buy	SHERWIN WILLIAMS CO	$14,801,000	+9.1%	81,246	+5.8%	3.33%	+0.9%
MDT	Sell	MEDTRONIC INC	$14,782,000	+3.3%	277,587	-0.2%	3.33%	-4.5%
EXPD	Sell	EXPEDITORS INTL WASH INC	$14,628,000	+13.8%	332,001	-1.8%	3.29%	+5.2%
DCI	Buy	DONALDSON INC	$14,552,000	+10.8%	381,632	+3.6%	3.28%	+2.5%
NVS	Buy	NOVARTIS A Gsponsored adr	$14,437,000	+10.9%	188,197	+2.2%	3.25%	+2.6%
CVS	Buy	CVS CAREMARK CORPORATION	$14,377,000	+0.2%	253,336	+0.9%	3.24%	-7.4%
ADP	Buy	AUTOMATIC DATA PROCESSING IN	$14,365,000	+6.2%	198,472	+1.0%	3.23%	-1.8%
JNJ	Buy	JOHNSON & JOHNSON	$14,230,000	+2.4%	164,143	+1.4%	3.20%	-5.3%
	Buy	CR Bard Inc.	$14,163,000	+6.4%	122,943	+0.4%	3.19%	-1.6%
BEN	Buy	FRANKLIN RES INC	$14,026,000	+16.6%	277,458	+213.6%	3.16%	+7.8%
SIAL	Buy	SIGMA ALDRICH CORP	$13,962,000	+8.1%	163,681	+2.0%	3.14%	0.0%
MSFT	Buy	MICROSOFT CORP	$13,942,000	+0.9%	418,929	+4.7%	3.14%	-6.7%
SYK	Buy	STRYKER CORP	$13,923,000	+6.9%	205,987	+2.3%	3.13%	-1.1%
ACN	Buy	ACCENTURE PLC IRELAND	$13,706,000	+7.8%	186,115	+5.4%	3.08%	-0.3%
WMT	Buy	WAL-MART STORES INC	$13,329,000	+6.0%	180,213	+6.7%	3.00%	-2.0%
QCOM	Buy	QUALCOMM INC	$13,293,000	+13.2%	197,467	+2.7%	2.99%	+4.7%
	Buy	Wasatch Small Cap Growth Fundeq mf	$13,247,000	+9.7%	258,184	+0.1%	2.98%	+1.5%
ORCL	Buy	ORACLE CORP	$13,135,000	+13.3%	395,996	+4.9%	2.96%	+4.8%
	Buy	Royce Premier Fundeq mf	$13,036,000	+10.4%	574,543	+0.6%	2.93%	+2.2%
PG	Buy	PROCTER & GAMBLE CO	$12,768,000	+1.7%	168,908	+3.6%	2.87%	-5.9%
SYY	Buy	SYSCO CORP	$12,364,000	-3.4%	388,434	+3.7%	2.78%	-10.7%
	Buy	Vanguard Institutional Index Feq mf	$10,074,000	+5.2%	65,417	+0.5%	2.27%	-2.7%
	Buy	Harbor Internationaleq mf	$6,995,000	+13.4%	100,969	+2.1%	1.57%	+4.9%
	Buy	Vanguard Intl Growtheq mf	$6,863,000	+15.9%	310,819	+2.0%	1.54%	+7.1%
	Sell	Jensen Ieq mf	$5,911,000	+4.8%	167,459	-0.4%	1.33%	-3.1%
	Sell	Dodge & Cox Stockeq mf	$5,830,000	+3.9%	38,497	-2.5%	1.31%	-3.9%
	Sell	Diamond Hill Lrg Cap Ieq mf	$5,732,000	+3.2%	276,247	-2.1%	1.29%	-4.5%
	Buy	Dreyfus Appreciationeq mf	$5,500,000	+5.1%	113,633	+1.1%	1.24%	-2.7%
CAG	Sell	CONAGRA FOODS INC	$2,753,000	-16.3%	90,730	-3.7%	0.62%	-22.6%
TGT	Sell	TARGET CORP	$1,637,000	-7.3%	25,587	-0.2%	0.37%	-14.4%
BRKA	Sell	BERKSHIRE HATHAWAY INC DELcl a	$1,363,000	-10.2%	8	-11.1%	0.31%	-16.8%
XOM	Sell	EXXON MOBIL CORP	$1,240,000	-9.9%	14,413	-5.4%	0.28%	-16.7%
WFC	Sell	WELLS FARGO & CO NEW	$882,000	-7.0%	21,338	-7.1%	0.20%	-14.3%
PFE	New	PFIZER INC	$841,000	–	29,275	–	0.19%	–
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$835,000	+22.4%	4,511	+26.4%	0.19%	+13.3%
CVX	Buy	CHEVRON CORP NEW	$710,000	+9.9%	5,841	+7.0%	0.16%	+1.9%
MMM	New	3M CO	$581,000	–	4,868	–	0.13%	–
PEP	Buy	PEPSICO INC	$446,000	+20.9%	5,614	+24.4%	0.10%	+11.1%
MCD	Buy	MCDONALDS CORP	$415,000	+78.1%	4,316	+83.3%	0.09%	+63.2%
DIS	New	DISNEY WALT CO	$278,000	–	4,315	–	0.06%	–
EMR	New	EMERSON ELEC CO	$246,000	–	3,806	–	0.06%	–
CL	Sell	COLGATE PALMOLIVE CO	$238,000	-3.6%	4,020	-6.9%	0.05%	-10.0%
SLB	New	SCHLUMBERGER LTD	$221,000	–	2,500	–	0.05%	–
UTX	New	UNITED TECHNOLOGIES CORP	$212,000	–	1,965	–	0.05%	–
KMB	New	KIMBERLY CLARK CORP	$206,000	–	2,189	–	0.05%	–
	New	Credit Suisse Comm. Returneq mf	$100,000	–	13,647	–	0.02%	–
MRK	Exit	Merck & Co Inc	$0	–	-4,636	–	-0.05%	–
NSRGY	Exit	Nestle SA ADR	$0	–	-3,796	–	-0.06%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-3,522	–	-0.07%	–
NVO	Exit	NOVO-NORDISK A Sadr	$0	–	-2,213	–	-0.08%	–

Q2 2013

			Value		Shares		↓ Weighting
CVS	New	CVS CAREMARK CORPORATION	$14,350,000	–	250,958	–	3.49%	–
MDT	New	MEDTRONIC INC	$14,311,000	–	278,047	–	3.48%	–
ITW	New	ILLINOIS TOOL WKS INC	$14,248,000	–	205,990	–	3.47%	–
ECL	New	ECOLAB INC	$13,998,000	–	164,313	–	3.41%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$13,986,000	–	165,259	–	3.40%	–
JNJ	New	JOHNSON & JOHNSON	$13,894,000	–	161,824	–	3.38%	–
MSFT	New	MICROSOFT CORP	$13,817,000	–	399,969	–	3.36%	–
DHR	New	DANAHER CORP DEL	$13,581,000	–	214,550	–	3.30%	–
SHW	New	SHERWIN WILLIAMS CO	$13,561,000	–	76,790	–	3.30%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$13,531,000	–	196,501	–	3.29%	–
JCI	New	JOHNSON CTLS INC	$13,466,000	–	376,240	–	3.28%	–
	New	CR Bard Inc.	$13,313,000	–	122,498	–	3.24%	–
DCI	New	DONALDSON INC	$13,131,000	–	368,226	–	3.20%	–
NVS	New	NOVARTIS A Gsponsored adr	$13,021,000	–	184,141	–	3.17%	–
SYK	New	STRYKER CORP	$13,021,000	–	201,314	–	3.17%	–
SIAL	New	SIGMA ALDRICH CORP	$12,911,000	–	160,542	–	3.14%	–
EXPD	New	EXPEDITORS INTL WASH INC	$12,858,000	–	338,021	–	3.13%	–
SYY	New	SYSCO CORP	$12,797,000	–	374,631	–	3.11%	–
ACN	New	ACCENTURE PLC IRELAND	$12,712,000	–	176,652	–	3.09%	–
FDX	New	FEDEX CORP	$12,664,000	–	128,467	–	3.08%	–
WMT	New	WAL-MART STORES INC	$12,577,000	–	168,844	–	3.06%	–
PG	New	PROCTER & GAMBLE CO	$12,552,000	–	163,035	–	3.05%	–
	New	Wasatch Small Cap Growth Fundeq mf	$12,072,000	–	257,845	–	2.94%	–
BEN	New	FRANKLIN RES INC	$12,033,000	–	88,467	–	2.93%	–
	New	Royce Premier Fundeq mf	$11,805,000	–	571,097	–	2.87%	–
QCOM	New	QUALCOMM INC	$11,744,000	–	192,239	–	2.86%	–
ORCL	New	ORACLE CORP	$11,592,000	–	377,460	–	2.82%	–
	New	Vanguard Institutional Index Feq mf	$9,573,000	–	65,089	–	2.33%	–
	New	Harbor Internationaleq mf	$6,166,000	–	98,896	–	1.50%	–
	New	Vanguard Intl Growtheq mf	$5,923,000	–	304,818	–	1.44%	–
	New	Jensen Ieq mf	$5,639,000	–	168,183	–	1.37%	–
	New	Dodge & Cox Stockeq mf	$5,610,000	–	39,487	–	1.36%	–
	New	Diamond Hill Lrg Cap Ieq mf	$5,552,000	–	282,257	–	1.35%	–
	New	Dreyfus Appreciationeq mf	$5,233,000	–	112,413	–	1.27%	–
CAG	New	CONAGRA FOODS INC	$3,291,000	–	94,215	–	0.80%	–
TGT	New	TARGET CORP	$1,766,000	–	25,642	–	0.43%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,517,000	–	9	–	0.37%	–
XOM	New	EXXON MOBIL CORP	$1,376,000	–	15,228	–	0.34%	–
OMC	New	OMNICOM GROUP INC	$997,000	–	15,852	–	0.24%	–
WFC	New	WELLS FARGO & CO NEW	$948,000	–	22,973	–	0.23%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$682,000	–	3,568	–	0.17%	–
CVX	New	CHEVRON CORP NEW	$646,000	–	5,460	–	0.16%	–
PEP	New	PEPSICO INC	$369,000	–	4,514	–	0.09%	–
NVO	New	NOVO-NORDISK A Sadr	$343,000	–	2,213	–	0.08%	–
NOC	New	NORTHROP GRUMMAN CORP	$292,000	–	3,522	–	0.07%	–
	New	American New Perspective - Aeq mf	$288,000	–	8,527	–	0.07%	–
HD	New	HOME DEPOT INC	$279,000	–	3,604	–	0.07%	–
NSRGY	New	Nestle SA ADR	$250,000	–	3,796	–	0.06%	–
CL	New	COLGATE PALMOLIVE CO	$247,000	–	4,320	–	0.06%	–
MCD	New	MCDONALDS CORP	$233,000	–	2,354	–	0.06%	–
MRK	New	Merck & Co Inc	$215,000	–	4,636	–	0.05%	–

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