SALEM CAPITAL MANAGEMENT INC Activity Q1 1999-Q3 2022

Q3 2022

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$8,864,000	-10.1%	38,061	-0.9%	7.02%	-2.4%
MRK	Buy	Merck & Co.	$7,039,000	-5.4%	81,739	+0.2%	5.57%	+2.7%
HON	Sell	Honeywell Int'l	$5,591,000	-4.2%	33,483	-0.3%	4.43%	+4.0%
PXD	Sell	Pioneer Natural Resources	$4,839,000	-3.6%	22,350	-0.7%	3.83%	+4.7%
LOW	Sell	Lowe's Companies, Inc.	$4,230,000	+7.0%	22,524	-0.4%	3.35%	+16.2%
CVX	Buy	Chevron Corp.	$4,009,000	+0.3%	27,902	+1.1%	3.17%	+8.9%
FCX	Buy	Freeport-McMoRan, Inc.	$3,269,000	-4.6%	119,599	+2.1%	2.59%	+3.6%
VZ	Buy	Verizon Communications	$3,015,000	-25.0%	79,415	+0.3%	2.39%	-18.6%
JPM	Buy	JP Morgan Chase & Co.	$2,942,000	-6.9%	28,153	+0.4%	2.33%	+1.1%
TFC	Sell	Truist Fin'l Corp.	$2,861,000	-8.7%	65,708	-0.5%	2.26%	-0.8%
WRK	Sell	Westrock Company	$2,819,000	-23.3%	91,267	-1.1%	2.23%	-16.8%
SLB	Buy	Schlumberger, Ltd.	$2,622,000	+948.8%	73,049	+943.7%	2.08%	+1040.7%
COST	Sell	Costco Wholesale Corp.	$2,414,000	-1.8%	5,111	-0.3%	1.91%	+6.7%
	Buy	Eaton Corp. PLC	$2,370,000	+6.4%	17,768	+0.5%	1.88%	+15.5%
NOK	Buy	Nokia Corp ADR	$2,269,000	+1.3%	531,484	+9.5%	1.80%	+10.0%
APTV	Buy	Aptiv PLC	$2,166,000	-11.5%	27,698	+0.8%	1.72%	-3.9%
NVS	Sell	Novartis AG ADR	$1,245,000	-11.1%	16,377	-1.2%	0.99%	-3.4%
AAPL	Sell	Apple Computer	$1,003,000	-1.7%	7,260	-2.7%	0.79%	+6.7%
PYPL	Buy	PayPal Holdings Inc.	$742,000	+27.7%	8,625	+3.6%	0.59%	+38.4%
ADP	Buy	Automatic Data Proc	$541,000	+12.0%	2,393	+4.0%	0.43%	+21.6%
KO	Buy	Coca-Cola Co.	$244,000	-7.6%	4,359	+3.8%	0.19%	+0.5%
INTC	Exit	Intel	$0	–	-7,750	–	-0.21%	–
CMCSA	Exit	Comcast CL A	$0	–	-89,239	–	-2.55%	–

Q2 2022

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$9,863,000	–	38,402	–	7.19%	–
MRK	New	Merck & Co.	$7,440,000	–	81,605	–	5.42%	–
PFE	New	Pfizer Inc.	$7,250,000	–	138,274	–	5.29%	–
WY	New	Weyerhaeuser Co.	$6,171,000	–	186,317	–	4.50%	–
BAC	New	Bank of America Corp.	$6,149,000	–	197,540	–	4.48%	–
HON	New	Honeywell Int'l	$5,837,000	–	33,583	–	4.26%	–
CSCO	New	Cisco Systems	$5,598,000	–	131,290	–	4.08%	–
PXD	New	Pioneer Natural Resources	$5,019,000	–	22,500	–	3.66%	–
GLW	New	Corning	$4,868,000	–	154,499	–	3.55%	–
IP	New	International Paper	$4,487,000	–	107,258	–	3.27%	–
DVN	New	Devon Energy	$4,403,000	–	79,887	–	3.21%	–
VZ	New	Verizon Communications	$4,020,000	–	79,206	–	2.93%	–
CVX	New	Chevron Corp.	$3,996,000	–	27,602	–	2.91%	–
LOW	New	Lowe's Companies, Inc.	$3,952,000	–	22,624	–	2.88%	–
JNJ	New	Johnson & Johnson	$3,697,000	–	20,826	–	2.70%	–
WRK	New	Westrock Company	$3,676,000	–	92,267	–	2.68%	–
PCAR	New	Paccar Inc.	$3,515,000	–	42,690	–	2.56%	–
CMCSA	New	Comcast CL A	$3,502,000	–	89,239	–	2.55%	–
BWA	New	Borg Warner Inc.	$3,434,000	–	102,899	–	2.50%	–
FCX	New	Freeport-McMoRan, Inc.	$3,428,000	–	117,149	–	2.50%	–
JPM	New	JP Morgan Chase & Co.	$3,159,000	–	28,053	–	2.30%	–
TFC	New	Truist Fin'l Corp.	$3,133,000	–	66,058	–	2.28%	–
RTX	New	Raytheon Technologies Corp.	$2,743,000	–	28,542	–	2.00%	–
COST	New	Costco Wholesale Corp.	$2,457,000	–	5,126	–	1.79%	–
APTV	New	Aptiv PLC	$2,447,000	–	27,473	–	1.78%	–
NOK	New	Nokia Corp ADR	$2,239,000	–	485,584	–	1.63%	–
	New	Eaton Corp. PLC	$2,227,000	–	17,678	–	1.62%	–
ABT	New	Abbott Laboratories	$1,749,000	–	16,096	–	1.28%	–
PAYX	New	Paychex Inc	$1,463,000	–	12,845	–	1.07%	–
NVS	New	Novartis AG ADR	$1,401,000	–	16,577	–	1.02%	–
EOG	New	EOG Resources, Inc.	$1,265,000	–	11,450	–	0.92%	–
HD	New	Home Depot Inc.	$1,049,000	–	3,825	–	0.76%	–
AAPL	New	Apple Computer	$1,020,000	–	7,460	–	0.74%	–
LLY	New	Lilly, Eli	$939,000	–	2,897	–	0.68%	–
AVGO	New	Broadcom Inc.	$865,000	–	1,780	–	0.63%	–
ADI	New	Analog Devices	$675,000	–	4,619	–	0.49%	–
PG	New	Procter & Gamble	$637,000	–	4,430	–	0.46%	–
PYPL	New	PayPal Holdings Inc.	$581,000	–	8,325	–	0.42%	–
CL	New	Colgate Palmolive	$580,000	–	7,233	–	0.42%	–
NFG	New	National Fuel Gas	$514,000	–	7,778	–	0.38%	–
ADP	New	Automatic Data Proc	$483,000	–	2,300	–	0.35%	–
PNC	New	PNC Financial Services Grp.	$481,000	–	3,050	–	0.35%	–
NSRGY	New	Nestle S A ADR	$451,000	–	3,875	–	0.33%	–
CVS	New	CVS Health Corporation	$445,000	–	4,805	–	0.32%	–
KMB	New	Kimberly-Clark	$412,000	–	3,049	–	0.30%	–
FDX	New	Fedex Corp.	$408,000	–	1,800	–	0.30%	–
AVB	New	AvalonBay Communities	$372,000	–	1,914	–	0.27%	–
COP	New	Conocophillips	$359,000	–	4,000	–	0.26%	–
NEE	New	Nextera Energy Inc.	$310,000	–	4,000	–	0.23%	–
ABBV	New	AbbVie Inc.	$291,000	–	1,900	–	0.21%	–
INTC	New	Intel	$290,000	–	7,750	–	0.21%	–
KO	New	Coca-Cola Co.	$264,000	–	4,200	–	0.19%	–
SLB	New	Schlumberger, Ltd.	$250,000	–	6,999	–	0.18%	–
SYK	New	Stryker	$242,000	–	1,217	–	0.18%	–
BK	New	Bank New York Mellon Corp.	$238,000	–	5,700	–	0.17%	–
GIS	New	General Mills	$211,000	–	2,800	–	0.15%	–
CTAS	New	Cintas Corp	$205,000	–	550	–	0.15%	–

Q4 2021

			Value		Shares		↓ Weighting
ABBV	Exit	AbbVie Inc.	$0	–	-1,900	–	-0.11%	–
CSX	Exit	CSX Corp.	$0	–	-6,956	–	-0.11%	–
CTAS	Exit	Cintas Corp	$0	–	-550	–	-0.11%	–
KO	Exit	Coca-Cola Co.	$0	–	-4,200	–	-0.12%	–
SO	Exit	Southern Co.	$0	–	-3,550	–	-0.12%	–
ROK	Exit	Rockwell Automation Inc.	$0	–	-755	–	-0.12%	–
GIS	Exit	General Mills	$0	–	-3,720	–	-0.12%	–
DOV	Exit	Dover Corp	$0	–	-1,500	–	-0.13%	–
COP	Exit	Conocophillips	$0	–	-4,000	–	-0.15%	–
UL	Exit	Unilever PLC ADR	$0	–	-5,037	–	-0.15%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-5,700	–	-0.16%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-9,999	–	-0.16%	–
GPN	Exit	Global Payments Inc.	$0	–	-1,960	–	-0.17%	–
SYK	Exit	Stryker	$0	–	-1,450	–	-0.21%	–
NEE	Exit	Nextera Energy Inc.	$0	–	-4,989	–	-0.22%	–
CVS	Exit	CVS Health Corporation	$0	–	-4,655	–	-0.22%	–
NFG	Exit	National Fuel Gas	$0	–	-8,640	–	-0.25%	–
ADP	Exit	Automatic Data Proc	$0	–	-2,300	–	-0.25%	–
AVB	Exit	AvalonBay Communities	$0	–	-2,286	–	-0.28%	–
KMB	Exit	Kimberly-Clark	$0	–	-4,050	–	-0.29%	–
FDX	Exit	Fedex Corp.	$0	–	-2,950	–	-0.35%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-8,100	–	-0.36%	–
INTC	Exit	Intel	$0	–	-12,637	–	-0.37%	–
PG	Exit	Procter & Gamble	$0	–	-4,830	–	-0.37%	–
LLY	Exit	Lilly, Eli	$0	–	-3,194	–	-0.40%	–
CL	Exit	Colgate Palmolive	$0	–	-9,850	–	-0.41%	–
VNT	Exit	Vontier Corp.	$0	–	-23,500	–	-0.43%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-6,575	–	-0.43%	–
PNC	Exit	PNC Financial Services Grp.	$0	–	-4,070	–	-0.44%	–
ADI	Exit	Analog Devices	$0	–	-5,149	–	-0.47%	–
MMM	Exit	3M Company	$0	–	-4,950	–	-0.48%	–
VTWO	Exit	Vanguard Russell 2000 ETF	$0	–	-11,011	–	-0.53%	–
AVGO	Exit	Broadcom Inc.	$0	–	-2,395	–	-0.64%	–
AAPL	Exit	Apple Computer	$0	–	-8,260	–	-0.64%	–
JOF	Exit	Japan Smaller Capitalization F	$0	–	-134,544	–	-0.67%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-103,150	–	-0.77%	–
HD	Exit	Home Depot Inc.	$0	–	-4,436	–	-0.80%	–
T	Exit	AT & T Corp.	$0	–	-58,973	–	-0.87%	–
PAYX	Exit	Paychex Inc	$0	–	-17,854	–	-1.10%	–
ABT	Exit	Abbott Laboratories	$0	–	-18,413	–	-1.19%	–
RTX	Exit	Raytheon Technologies Corp.	$0	–	-26,650	–	-1.26%	–
NVS	Exit	Novartis AG ADR	$0	–	-30,744	–	-1.38%	–
PHG	Exit	Philips	$0	–	-57,456	–	-1.40%	–
ERIC	Exit	Ericsson ADR	$0	–	-231,600	–	-1.42%	–
NOK	Exit	Nokia Corp ADR	$0	–	-488,650	–	-1.46%	–
	Exit	Eaton Corp. PLC	$0	–	-18,678	–	-1.53%	–
CVX	Exit	Chevron Corp.	$0	–	-27,969	–	-1.55%	–
PYPL	Exit	PayPal Holdings Inc.	$0	–	-12,225	–	-1.74%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-7,983	–	-1.96%	–
PCAR	Exit	Paccar Inc.	$0	–	-45,622	–	-1.97%	–
PXD	Exit	Pioneer Natural Resources	$0	–	-22,895	–	-2.09%	–
FCX	Exit	Freeport-McMoRan, Inc.	$0	–	-117,949	–	-2.10%	–
JNJ	Exit	Johnson & Johnson	$0	–	-24,281	–	-2.15%	–
TFC	Exit	Truist Fin'l Corp.	$0	–	-70,225	–	-2.26%	–
VZ	Exit	Verizon Communications	$0	–	-82,280	–	-2.43%	–
DVN	Exit	Devon Energy	$0	–	-125,759	–	-2.45%	–
BWA	Exit	Borg Warner Inc.	$0	–	-105,664	–	-2.50%	–
APTV	Exit	Aptiv PLC	$0	–	-30,723	–	-2.51%	–
WRK	Exit	Westrock Company	$0	–	-94,774	–	-2.59%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-31,338	–	-2.81%	–
CMCSA	Exit	Comcast CL A	$0	–	-94,044	–	-2.88%	–
GLW	Exit	Corning	$0	–	-159,011	–	-3.18%	–
PFE	Exit	Pfizer Inc.	$0	–	-143,169	–	-3.37%	–
IP	Exit	International Paper	$0	–	-115,052	–	-3.52%	–
MRK	Exit	Merck & Co.	$0	–	-88,671	–	-3.65%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-33,104	–	-3.68%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-203,728	–	-3.97%	–
CSCO	Exit	Cisco Systems	$0	–	-143,045	–	-4.26%	–
HON	Exit	Honeywell Int'l	$0	–	-39,176	–	-4.56%	–
BAC	Exit	Bank of America Corp.	$0	–	-220,880	–	-5.14%	–
MSFT	Exit	Microsoft	$0	–	-45,698	–	-7.06%	–

Q3 2021

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$12,883,000	-1.0%	45,698	-4.9%	7.06%	-1.1%
BAC	Sell	Bank of America Corp.	$9,376,000	+1.8%	220,880	-1.1%	5.14%	+1.7%
HON	Sell	Honeywell Int'l	$8,316,000	-5.8%	39,176	-2.7%	4.56%	-5.8%
CSCO	Sell	Cisco Systems	$7,786,000	+1.7%	143,045	-1.0%	4.26%	+1.7%
WY	Sell	Weyerhaeuser Co.	$7,247,000	+2.6%	203,728	-0.7%	3.97%	+2.5%
LOW	Sell	Lowe's Companies, Inc.	$6,715,000	+3.2%	33,104	-1.3%	3.68%	+3.1%
MRK	Sell	Merck & Co.	$6,660,000	-5.3%	88,671	-2.0%	3.65%	-5.4%
IP	Sell	International Paper	$6,434,000	-9.7%	115,052	-1.0%	3.52%	-9.7%
PFE	Sell	Pfizer Inc.	$6,158,000	+6.2%	143,169	-3.3%	3.37%	+6.2%
GLW	Sell	Corning	$5,802,000	-11.2%	159,011	-0.5%	3.18%	-11.3%
CMCSA	Buy	Comcast CL A	$5,260,000	-1.8%	94,044	+0.1%	2.88%	-1.9%
JPM	Sell	JP Morgan Chase & Co.	$5,130,000	+4.9%	31,338	-0.3%	2.81%	+4.9%
WRK	Sell	Westrock Company	$4,723,000	-7.0%	94,774	-0.7%	2.59%	-7.0%
APTV	Sell	Aptiv PLC	$4,577,000	-6.2%	30,723	-1.0%	2.51%	-6.3%
BWA	Buy	Borg Warner Inc.	$4,566,000	-3.6%	105,664	+8.3%	2.50%	-3.7%
DVN	Sell	Devon Energy	$4,466,000	+21.4%	125,759	-0.2%	2.45%	+21.3%
VZ	Buy	Verizon Communications	$4,444,000	-2.7%	82,280	+1.0%	2.43%	-2.7%
TFC	Buy	Truist Fin'l Corp.	$4,119,000	+11.3%	70,225	+5.3%	2.26%	+11.2%
JNJ	Sell	Johnson & Johnson	$3,921,000	-2.8%	24,281	-0.8%	2.15%	-2.8%
FCX	Buy	Freeport-McMoRan, Inc.	$3,837,000	-4.6%	117,949	+8.9%	2.10%	-4.6%
PXD	Buy	Pioneer Natural Resources	$3,812,000	+30.5%	22,895	+27.4%	2.09%	+30.5%
PCAR	Buy	Paccar Inc.	$3,600,000	+498.0%	45,622	+575.9%	1.97%	+497.6%
COST	Sell	Costco Wholesale Corp.	$3,587,000	+8.2%	7,983	-4.7%	1.96%	+8.2%
PYPL	Sell	PayPal Holdings Inc.	$3,181,000	-12.9%	12,225	-2.4%	1.74%	-12.9%
CVX	Buy	Chevron Corp.	$2,837,000	+58.7%	27,969	+63.9%	1.55%	+58.6%
	Sell	Eaton Corp. PLC	$2,789,000	-0.3%	18,678	-1.1%	1.53%	-0.3%
ERIC	Buy	Ericsson ADR	$2,594,000	+11.4%	231,600	+25.1%	1.42%	+11.4%
NVS	Buy	Novartis AG ADR	$2,514,000	+215.0%	30,744	+251.6%	1.38%	+215.1%
RTX	Buy	Raytheon Technologies Corp.	$2,291,000	+4.1%	26,650	+3.4%	1.26%	+4.1%
ABT	Sell	Abbott Laboratories	$2,175,000	+0.5%	18,413	-1.3%	1.19%	+0.4%
T	Sell	AT & T Corp.	$1,593,000	-47.8%	58,973	-44.4%	0.87%	-47.8%
HD	Sell	Home Depot Inc.	$1,456,000	+0.3%	4,436	-2.5%	0.80%	+0.4%
JOF	Sell	Japan Smaller Capitalization F	$1,218,000	-5.6%	134,544	-5.9%	0.67%	-5.7%
AVGO	Buy	Broadcom Inc.	$1,161,000	+8.0%	2,395	+6.2%	0.64%	+8.0%
VTWO	Buy	Vanguard Russell 2000 ETF	$973,000	-3.6%	11,011	+1.0%	0.53%	-3.6%
ADI	Sell	Analog Devices	$862,000	-14.4%	5,149	-12.0%	0.47%	-14.5%
VNT	New	Vontier Corp.	$790,000	–	23,500	–	0.43%	–
CL	Sell	Colgate Palmolive	$744,000	-26.6%	9,850	-20.9%	0.41%	-26.5%
LLY	Sell	Lilly, Eli	$738,000	-8.0%	3,194	-8.6%	0.40%	-8.2%
INTC	Sell	Intel	$673,000	-24.8%	12,637	-20.7%	0.37%	-24.8%
EOG	Buy	EOG Resources, Inc.	$650,000	+8.2%	8,100	+12.5%	0.36%	+8.2%
KMB	Sell	Kimberly-Clark	$536,000	-22.2%	4,050	-21.4%	0.29%	-22.2%
AVB	Sell	AvalonBay Communities	$507,000	+2.8%	2,286	-3.3%	0.28%	+3.0%
NFG	Sell	National Fuel Gas	$454,000	-3.8%	8,640	-4.4%	0.25%	-3.9%
CVS	Sell	CVS Health Corporation	$395,000	-7.3%	4,655	-8.8%	0.22%	-7.3%
GIS	Sell	General Mills	$223,000	-7.9%	3,720	-6.3%	0.12%	-8.3%
CTAS	Sell	Cintas Corp	$209,000	-15.7%	550	-15.4%	0.11%	-16.2%
CAT	Exit	Caterpillar	$0	–	-1,016	–	-0.12%	–
XOM	Exit	Exxon Mobil	$0	–	-3,926	–	-0.14%	–
IBM	Exit	Int'l Bus Machines	$0	–	-1,700	–	-0.14%	–
OGN	Exit	Organon & Co.	$0	–	-8,751	–	-0.14%	–
VCSH	Exit	Vanguard ST Corporate Bond ETF	$0	–	-28,700	–	-1.30%	–

Q2 2021

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$13,014,000	–	48,040	–	7.13%	–
BAC	New	Bank of America Corp.	$9,210,000	–	223,380	–	5.05%	–
HON	New	Honeywell Int'l	$8,830,000	–	40,254	–	4.84%	–
CSCO	New	Cisco Systems	$7,654,000	–	144,423	–	4.20%	–
IP	New	International Paper	$7,125,000	–	116,216	–	3.90%	–
WY	New	Weyerhaeuser Co.	$7,064,000	–	205,228	–	3.87%	–
MRK	New	Merck & Co.	$7,036,000	–	90,471	–	3.86%	–
GLW	New	Corning	$6,535,000	–	159,775	–	3.58%	–
LOW	New	Lowe's Companies, Inc.	$6,508,000	–	33,554	–	3.57%	–
PFE	New	Pfizer Inc.	$5,796,000	–	148,019	–	3.18%	–
CMCSA	New	Comcast CL A	$5,358,000	–	93,972	–	2.94%	–
WRK	New	Westrock Company	$5,078,000	–	95,407	–	2.78%	–
JPM	New	JP Morgan Chase & Co.	$4,889,000	–	31,430	–	2.68%	–
APTV	New	Aptiv PLC	$4,882,000	–	31,033	–	2.68%	–
BWA	New	Borg Warner Inc.	$4,737,000	–	97,586	–	2.60%	–
VZ	New	Verizon Communications	$4,565,000	–	81,480	–	2.50%	–
JNJ	New	Johnson & Johnson	$4,033,000	–	24,481	–	2.21%	–
FCX	New	Freeport-McMoRan, Inc.	$4,021,000	–	108,349	–	2.20%	–
TFC	New	Truist Fin'l Corp.	$3,700,000	–	66,675	–	2.03%	–
DVN	New	Devon Energy	$3,680,000	–	126,059	–	2.02%	–
PYPL	New	PayPal Holdings Inc.	$3,651,000	–	12,525	–	2.00%	–
COST	New	Costco Wholesale Corp.	$3,314,000	–	8,375	–	1.82%	–
T	New	AT & T Corp.	$3,054,000	–	106,105	–	1.67%	–
PXD	New	Pioneer Natural Resources	$2,920,000	–	17,970	–	1.60%	–
PHG	New	Philips	$2,856,000	–	57,456	–	1.56%	–
	New	Eaton Corp. PLC	$2,797,000	–	18,878	–	1.53%	–
NOK	New	Nokia Corp ADR	$2,600,000	–	488,650	–	1.42%	–
VCSH	New	Vanguard ST Corporate Bond ETF	$2,374,000	–	28,700	–	1.30%	–
ERIC	New	Ericsson ADR	$2,329,000	–	185,100	–	1.28%	–
RTX	New	Raytheon Technologies Corp.	$2,200,000	–	25,785	–	1.21%	–
ABT	New	Abbott Laboratories	$2,164,000	–	18,663	–	1.19%	–
PAYX	New	Paychex Inc	$1,916,000	–	17,854	–	1.05%	–
CVX	New	Chevron Corp.	$1,788,000	–	17,069	–	0.98%	–
HD	New	Home Depot Inc.	$1,451,000	–	4,550	–	0.80%	–
MRO	New	Marathon Oil Corp.	$1,405,000	–	103,150	–	0.77%	–
JOF	New	Japan Smaller Capitalization F	$1,290,000	–	142,986	–	0.71%	–
AAPL	New	Apple Computer	$1,131,000	–	8,260	–	0.62%	–
AVGO	New	Broadcom Inc.	$1,075,000	–	2,255	–	0.59%	–
CL	New	Colgate Palmolive	$1,013,000	–	12,448	–	0.56%	–
VTWO	New	Vanguard Russell 2000 ETF	$1,009,000	–	10,901	–	0.55%	–
ADI	New	Analog Devices	$1,007,000	–	5,849	–	0.55%	–
MMM	New	3M Company	$983,000	–	4,950	–	0.54%	–
INTC	New	Intel	$895,000	–	15,937	–	0.49%	–
FDX	New	Fedex Corp.	$880,000	–	2,950	–	0.48%	–
NSRGY	New	Nestle S A ADR	$820,000	–	6,575	–	0.45%	–
LLY	New	Lilly, Eli	$802,000	–	3,494	–	0.44%	–
NVS	New	Novartis AG ADR	$798,000	–	8,744	–	0.44%	–
PNC	New	PNC Financial Services Grp.	$776,000	–	4,070	–	0.42%	–
KMB	New	Kimberly-Clark	$689,000	–	5,150	–	0.38%	–
PG	New	Procter & Gamble	$652,000	–	4,830	–	0.36%	–
PCAR	New	Paccar Inc.	$602,000	–	6,750	–	0.33%	–
EOG	New	EOG Resources, Inc.	$601,000	–	7,200	–	0.33%	–
AVB	New	AvalonBay Communities	$493,000	–	2,364	–	0.27%	–
NFG	New	National Fuel Gas	$472,000	–	9,040	–	0.26%	–
ADP	New	Automatic Data Proc	$457,000	–	2,300	–	0.25%	–
CVS	New	CVS Health Corporation	$426,000	–	5,105	–	0.23%	–
SYK	New	Stryker	$377,000	–	1,450	–	0.21%	–
GPN	New	Global Payments Inc.	$368,000	–	1,960	–	0.20%	–
NEE	New	Nextera Energy Inc.	$366,000	–	4,989	–	0.20%	–
SLB	New	Schlumberger, Ltd.	$320,000	–	9,999	–	0.18%	–
UL	New	Unilever PLC ADR	$295,000	–	5,037	–	0.16%	–
BK	New	Bank New York Mellon Corp.	$292,000	–	5,700	–	0.16%	–
OGN	New	Organon & Co.	$265,000	–	8,751	–	0.14%	–
XOM	New	Exxon Mobil	$248,000	–	3,926	–	0.14%	–
CTAS	New	Cintas Corp	$248,000	–	650	–	0.14%	–
IBM	New	Int'l Bus Machines	$249,000	–	1,700	–	0.14%	–
COP	New	Conocophillips	$244,000	–	4,000	–	0.13%	–
GIS	New	General Mills	$242,000	–	3,970	–	0.13%	–
KO	New	Coca-Cola Co.	$227,000	–	4,200	–	0.12%	–
DOV	New	Dover Corp	$226,000	–	1,500	–	0.12%	–
CSX	New	CSX Corp.	$223,000	–	6,956	–	0.12%	–
CAT	New	Caterpillar	$221,000	–	1,016	–	0.12%	–
ROK	New	Rockwell Automation Inc.	$216,000	–	755	–	0.12%	–
SO	New	Southern Co.	$215,000	–	3,550	–	0.12%	–
ABBV	New	AbbVie Inc.	$214,000	–	1,900	–	0.12%	–

Q4 2020

			Value		Shares		↓ Weighting
KO	Exit	Coca-Cola Co.	$0	–	-4,200	–	-0.15%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-6,350	–	-0.16%	–
GIS	Exit	General Mills	$0	–	-3,970	–	-0.18%	–
CTAS	Exit	Cintas Corp	$0	–	-750	–	-0.18%	–
AMGN	Exit	Amgen	$0	–	-1,100	–	-0.20%	–
CVS	Exit	CVS Health Corporation	$0	–	-5,105	–	-0.22%	–
ABBV	Exit	AbbVie Inc.	$0	–	-3,500	–	-0.22%	–
UL	Exit	Unilever PLC ADR	$0	–	-5,037	–	-0.22%	–
VCSH	Exit	Vanguard ST Corporate Bond FD	$0	–	-3,800	–	-0.23%	–
NEE	Exit	Nextera Energy Inc.	$0	–	-1,247	–	-0.25%	–
AVB	Exit	AvalonBay Communities	$0	–	-2,364	–	-0.26%	–
NFG	Exit	National Fuel Gas	$0	–	-9,040	–	-0.27%	–
ADP	Exit	Automatic Data Proc	$0	–	-2,700	–	-0.27%	–
PNC	Exit	PNC Financial Services Grp.	$0	–	-3,795	–	-0.30%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-102,174	–	-0.30%	–
AVGO	Exit	Broadcom Inc.	$0	–	-1,355	–	-0.36%	–
PCAR	Exit	Paccar Inc.	$0	–	-6,750	–	-0.42%	–
SYK	Exit	Stryker	$0	–	-2,850	–	-0.43%	–
LLY	Exit	Lilly, Eli	$0	–	-4,344	–	-0.46%	–
ADI	Exit	Analog Devices	$0	–	-6,150	–	-0.52%	–
NVS	Exit	Novartis AG ADR	$0	–	-8,444	–	-0.53%	–
FDX	Exit	Fedex Corp.	$0	–	-2,950	–	-0.54%	–
PG	Exit	Procter & Gamble	$0	–	-5,532	–	-0.56%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-6,575	–	-0.57%	–
MMM	Exit	3M Company	$0	–	-4,950	–	-0.57%	–
KMB	Exit	Kimberly-Clark	$0	–	-5,450	–	-0.58%	–
AAPL	Exit	Apple Computer	$0	–	-8,260	–	-0.69%	–
CL	Exit	Colgate Palmolive	$0	–	-12,450	–	-0.70%	–
CVX	Exit	Chevron Corp.	$0	–	-15,125	–	-0.79%	–
HAL	Exit	Halliburton Co.	$0	–	-99,200	–	-0.86%	–
DVN	Exit	Devon Energy	$0	–	-128,511	–	-0.88%	–
HD	Exit	Home Depot Inc.	$0	–	-4,650	–	-0.93%	–
JOF	Exit	Japan Smaller Capitalization F	$0	–	-149,230	–	-0.94%	–
RTX	Exit	Raytheon Technologies Corp.	$0	–	-22,876	–	-0.95%	–
PAYX	Exit	Paychex Inc	$0	–	-17,854	–	-1.03%	–
	Exit	Eaton Corp. PLC	$0	–	-18,823	–	-1.39%	–
ABT	Exit	Abbott Laboratories	$0	–	-20,283	–	-1.60%	–
TFC	Exit	Truist Fin'l Corp.	$0	–	-60,074	–	-1.65%	–
PHG	Exit	Philips	$0	–	-55,449	–	-1.89%	–
PYPL	Exit	PayPal Holdings Inc.	$0	–	-13,875	–	-1.98%	–
APTV	Exit	Aptiv PLC	$0	–	-31,383	–	-2.08%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-30,330	–	-2.11%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-8,400	–	-2.16%	–
DD	Exit	DuPont de Nemours Inc.	$0	–	-56,704	–	-2.28%	–
WRK	Exit	Westrock Company	$0	–	-93,499	–	-2.35%	–
T	Exit	AT & T Corp.	$0	–	-119,493	–	-2.47%	–
BWA	Exit	Borg Warner Inc.	$0	–	-94,299	–	-2.64%	–
VZ	Exit	Verizon Communications	$0	–	-64,380	–	-2.77%	–
JNJ	Exit	Johnson & Johnson	$0	–	-26,070	–	-2.81%	–
CMCSA	Exit	Comcast CL A	$0	–	-86,198	–	-2.89%	–
IP	Exit	International Paper	$0	–	-115,719	–	-3.40%	–
PFE	Exit	Pfizer Inc.	$0	–	-131,677	–	-3.50%	–
GLW	Exit	Corning	$0	–	-164,450	–	-3.86%	–
BAC	Exit	Bank of America Corp.	$0	–	-239,213	–	-4.17%	–
CSCO	Exit	Cisco Systems	$0	–	-146,322	–	-4.17%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-207,505	–	-4.28%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-36,022	–	-4.32%	–
INTC	Exit	Intel	$0	–	-119,717	–	-4.49%	–
MRK	Exit	Merck & Co.	$0	–	-81,326	–	-4.88%	–
HON	Exit	Honeywell Int'l	$0	–	-41,508	–	-4.94%	–
MSFT	Exit	Microsoft	$0	–	-53,775	–	-8.19%	–

Q3 2020

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$11,310,000	-5.6%	53,775	-8.7%	8.19%	-4.6%
HON	Sell	Honeywell Int'l	$6,833,000	+8.0%	41,508	-5.1%	4.94%	+9.2%
MRK	Sell	Merck & Co.	$6,746,000	+2.0%	81,326	-4.9%	4.88%	+3.1%
INTC	Sell	Intel	$6,199,000	-21.7%	119,717	-9.5%	4.49%	-20.8%
LOW	Sell	Lowe's Companies, Inc.	$5,975,000	+12.2%	36,022	-8.6%	4.32%	+13.4%
WY	Sell	Weyerhaeuser Co.	$5,918,000	+20.4%	207,505	-5.2%	4.28%	+21.7%
CSCO	Sell	Cisco Systems	$5,764,000	-19.6%	146,322	-4.8%	4.17%	-18.8%
BAC	Sell	Bank of America Corp.	$5,763,000	-1.0%	239,213	-2.4%	4.17%	+0.1%
GLW	Sell	Corning	$5,330,000	+18.4%	164,450	-5.4%	3.86%	+19.7%
PFE	Sell	Pfizer Inc.	$4,833,000	+5.2%	131,677	-6.3%	3.50%	+6.3%
IP	Sell	International Paper	$4,691,000	+9.2%	115,719	-5.2%	3.40%	+10.4%
CMCSA	Sell	Comcast CL A	$3,988,000	+10.7%	86,198	-6.7%	2.89%	+11.9%
JNJ	Sell	Johnson & Johnson	$3,881,000	-1.5%	26,070	-6.9%	2.81%	-0.4%
VZ	Sell	Verizon Communications	$3,830,000	+2.1%	64,380	-5.4%	2.77%	+3.2%
BWA	Sell	Borg Warner Inc.	$3,653,000	+2.1%	94,299	-7.0%	2.64%	+3.2%
T	Sell	AT & T Corp.	$3,407,000	-11.8%	119,493	-6.5%	2.47%	-10.8%
WRK	Sell	Westrock Company	$3,248,000	+12.9%	93,499	-8.2%	2.35%	+14.1%
DD	Sell	DuPont de Nemours Inc.	$3,146,000	+1.1%	56,704	-3.2%	2.28%	+2.2%
JPM	Sell	JP Morgan Chase & Co.	$2,920,000	-4.6%	30,330	-6.8%	2.11%	-3.6%
APTV	Sell	Aptiv PLC	$2,877,000	+7.8%	31,383	-8.3%	2.08%	+9.0%
PYPL	Sell	PayPal Holdings Inc.	$2,734,000	-10.0%	13,875	-20.4%	1.98%	-9.0%
PHG	Buy	Philips	$2,614,000	+10.6%	55,449	+9.9%	1.89%	+11.8%
TFC	Sell	Truist Fin'l Corp.	$2,286,000	+0.8%	60,074	-0.5%	1.65%	+1.9%
ABT	Sell	Abbott Laboratories	$2,207,000	+13.3%	20,283	-4.8%	1.60%	+14.5%
	Sell	Eaton Corp. PLC	$1,921,000	-3.4%	18,823	-17.2%	1.39%	-2.3%
RTX	Sell	Raytheon Technologies Corp.	$1,316,000	-14.5%	22,876	-8.4%	0.95%	-13.6%
JOF	Sell	Japan Smaller Capitalization F	$1,294,000	-6.2%	149,230	-15.4%	0.94%	-5.1%
DVN	Buy	Devon Energy	$1,216,000	+29.4%	128,511	+55.1%	0.88%	+30.8%
HAL	Sell	Halliburton Co.	$1,195,000	-16.3%	99,200	-9.9%	0.86%	-15.4%
CVX	Buy	Chevron Corp.	$1,089,000	+78.2%	15,125	+120.8%	0.79%	+79.9%
AAPL	Buy	Apple Computer	$957,000	+24.9%	8,260	+293.3%	0.69%	+26.5%
MMM	Sell	3M Company	$793,000	-12.4%	4,950	-14.7%	0.57%	-11.4%
PG	Sell	Procter & Gamble	$769,000	+5.2%	5,532	-9.6%	0.56%	+6.5%
LLY	Sell	Lilly, Eli	$643,000	-19.1%	4,344	-10.3%	0.46%	-18.3%
AVGO	New	Broadcom Inc.	$494,000	–	1,355	–	0.36%	–
MRO	Buy	Marathon Oil Corp.	$418,000	-20.5%	102,174	+18.8%	0.30%	-19.6%
VCSH	New	Vanguard ST Corporate Bond FD	$315,000	–	3,800	–	0.23%	–
CTAS	New	Cintas Corp	$250,000	–	750	–	0.18%	–
KO	New	Coca-Cola Co.	$207,000	–	4,200	–	0.15%	–
XOM	Exit	Exxon Mobil	$0	–	-5,007	–	-0.16%	–
LCNTU	Exit	LA Cent Oil&Gas Co.	$0	–	-225	–	-0.16%	–
OTIS	Exit	Otis Worldwide Corp.	$0	–	-11,278	–	-0.46%	–
DOW	Exit	Dow Inc.	$0	–	-83,503	–	-2.44%	–

Q2 2020

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$11,982,000	–	58,875	–	8.58%	–
INTC	New	Intel	$7,916,000	–	132,302	–	5.67%	–
CSCO	New	Cisco Systems	$7,171,000	–	153,750	–	5.14%	–
MRK	New	Merck & Co.	$6,614,000	–	85,532	–	4.74%	–
HON	New	Honeywell Int'l	$6,324,000	–	43,734	–	4.53%	–
BAC	New	Bank of America Corp.	$5,819,000	–	245,016	–	4.17%	–
LOW	New	Lowe's Companies, Inc.	$5,327,000	–	39,425	–	3.81%	–
WY	New	Weyerhaeuser Co.	$4,914,000	–	218,806	–	3.52%	–
PFE	New	Pfizer Inc.	$4,595,000	–	140,528	–	3.29%	–
GLW	New	Corning	$4,503,000	–	173,850	–	3.22%	–
IP	New	International Paper	$4,296,000	–	122,020	–	3.08%	–
JNJ	New	Johnson & Johnson	$3,939,000	–	28,011	–	2.82%	–
T	New	AT & T Corp.	$3,863,000	–	127,794	–	2.77%	–
VZ	New	Verizon Communications	$3,750,000	–	68,030	–	2.68%	–
CMCSA	New	Comcast CL A	$3,602,000	–	92,400	–	2.58%	–
BWA	New	Borg Warner Inc.	$3,579,000	–	101,400	–	2.56%	–
DOW	New	Dow Inc.	$3,404,000	–	83,503	–	2.44%	–
DD	New	DuPont de Nemours Inc.	$3,113,000	–	58,592	–	2.23%	–
JPM	New	JP Morgan Chase & Co.	$3,060,000	–	32,533	–	2.19%	–
PYPL	New	PayPal Holdings Inc.	$3,038,000	–	17,435	–	2.18%	–
WRK	New	Westrock Company	$2,877,000	–	101,800	–	2.06%	–
APTV	New	Aptiv PLC	$2,668,000	–	34,235	–	1.91%	–
COST	New	Costco Wholesale Corp.	$2,547,000	–	8,400	–	1.82%	–
PHG	New	Philips	$2,363,000	–	50,449	–	1.69%	–
TFC	New	Truist Fin'l Corp.	$2,267,000	–	60,375	–	1.62%	–
	New	Eaton Corp. PLC	$1,988,000	–	22,725	–	1.42%	–
ABT	New	Abbott Laboratories	$1,948,000	–	21,308	–	1.40%	–
RTX	New	Raytheon Technologies Corp.	$1,539,000	–	24,977	–	1.10%	–
HAL	New	Halliburton Co.	$1,428,000	–	110,050	–	1.02%	–
JOF	New	Japan Smaller Capitalization F	$1,379,000	–	176,292	–	0.99%	–
PAYX	New	Paychex Inc	$1,352,000	–	17,854	–	0.97%	–
HD	New	Home Depot Inc.	$1,165,000	–	4,650	–	0.83%	–
DVN	New	Devon Energy	$940,000	–	82,864	–	0.67%	–
CL	New	Colgate Palmolive	$912,000	–	12,450	–	0.65%	–
MMM	New	3M Company	$905,000	–	5,800	–	0.65%	–
LLY	New	Lilly, Eli	$795,000	–	4,844	–	0.57%	–
KMB	New	Kimberly-Clark	$770,000	–	5,450	–	0.55%	–
AAPL	New	Apple Computer	$766,000	–	2,100	–	0.55%	–
ADI	New	Analog Devices	$754,000	–	6,150	–	0.54%	–
NVS	New	Novartis AG ADR	$737,000	–	8,444	–	0.53%	–
PG	New	Procter & Gamble	$731,000	–	6,117	–	0.52%	–
NSRGY	New	Nestle S A ADR	$726,000	–	6,575	–	0.52%	–
OTIS	New	Otis Worldwide Corp.	$641,000	–	11,278	–	0.46%	–
CVX	New	Chevron Corp.	$611,000	–	6,850	–	0.44%	–
MRO	New	Marathon Oil Corp.	$526,000	–	85,975	–	0.38%	–
SYK	New	Stryker	$514,000	–	2,850	–	0.37%	–
PCAR	New	Paccar Inc.	$505,000	–	6,750	–	0.36%	–
FDX	New	Fedex Corp.	$414,000	–	2,950	–	0.30%	–
ADP	New	Automatic Data Proc	$402,000	–	2,700	–	0.29%	–
PNC	New	PNC Financial Services Grp.	$399,000	–	3,795	–	0.29%	–
NFG	New	National Fuel Gas	$379,000	–	9,040	–	0.27%	–
AVB	New	AvalonBay Communities	$366,000	–	2,364	–	0.26%	–
ABBV	New	AbbVie Inc.	$344,000	–	3,500	–	0.25%	–
CVS	New	CVS Health Corporation	$332,000	–	5,105	–	0.24%	–
EOG	New	EOG Resources, Inc.	$322,000	–	6,350	–	0.23%	–
NEE	New	Nextera Energy Inc.	$300,000	–	1,247	–	0.22%	–
UL	New	Unilever PLC ADR	$276,000	–	5,037	–	0.20%	–
AMGN	New	Amgen	$259,000	–	1,100	–	0.18%	–
GIS	New	General Mills	$245,000	–	3,970	–	0.18%	–
LCNTU	New	LA Cent Oil&Gas Co.	$231,000	–	225	–	0.16%	–
XOM	New	Exxon Mobil	$224,000	–	5,007	–	0.16%	–

Q4 2019

			Value		Shares		↓ Weighting
LCNTU	Exit	LA Cent Oil&Gas Co.	$0	–	-225	–	-0.12%	–
AMGN	Exit	Amgen	$0	–	-1,100	–	-0.12%	–
GIS	Exit	General Mills	$0	–	-3,970	–	-0.12%	–
KO	Exit	Coca-Cola Co.	$0	–	-4,200	–	-0.13%	–
COP	Exit	Conocophillips	$0	–	-4,000	–	-0.13%	–
IBM	Exit	Int'l Bus Machines	$0	–	-1,600	–	-0.13%	–
ABBV	Exit	AbbVie Inc.	$0	–	-3,500	–	-0.15%	–
NEE	Exit	Nextera Energy Inc.	$0	–	-1,247	–	-0.17%	–
SO	Exit	Southern Co.	$0	–	-4,750	–	-0.17%	–
UL	Exit	Unilever PLC ADR	$0	–	-5,337	–	-0.18%	–
CVS	Exit	CVS Health Corporation	$0	–	-5,105	–	-0.18%	–
CTAS	Exit	Cintas Corp	$0	–	-1,250	–	-0.19%	–
UNP	Exit	Union Pacific Corp.	$0	–	-2,200	–	-0.20%	–
ADP	Exit	Automatic Data Proc	$0	–	-2,700	–	-0.25%	–
NFG	Exit	National Fuel Gas	$0	–	-9,735	–	-0.26%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-6,350	–	-0.27%	–
PCAR	Exit	Paccar Inc.	$0	–	-6,750	–	-0.27%	–
AAPL	Exit	Apple Computer	$0	–	-2,150	–	-0.28%	–
FDX	Exit	Fedex Corp.	$0	–	-3,350	–	-0.28%	–
AVB	Exit	AvalonBay Communities	$0	–	-2,364	–	-0.29%	–
PNC	Exit	PNC Financial Services Grp.	$0	–	-3,795	–	-0.30%	–
LLY	Exit	Lilly, Eli	$0	–	-4,844	–	-0.31%	–
XOM	Exit	Exxon Mobil	$0	–	-9,518	–	-0.38%	–
ADI	Exit	Analog Devices	$0	–	-6,450	–	-0.41%	–
SYK	Exit	Stryker	$0	–	-3,650	–	-0.45%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-7,325	–	-0.46%	–
NVS	Exit	Novartis AG ADR	$0	–	-9,344	–	-0.46%	–
CVX	Exit	Chevron Corp.	$0	–	-7,050	–	-0.48%	–
KMB	Exit	Kimberly-Clark	$0	–	-6,175	–	-0.50%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-25,697	–	-0.50%	–
CL	Exit	Colgate Palmolive	$0	–	-12,450	–	-0.52%	–
PG	Exit	Procter & Gamble	$0	–	-7,552	–	-0.54%	–
HD	Exit	Home Depot Inc.	$0	–	-4,700	–	-0.62%	–
MMM	Exit	3M Company	$0	–	-6,675	–	-0.63%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-112,325	–	-0.79%	–
PAYX	Exit	Paychex Inc	$0	–	-17,854	–	-0.85%	–
JOF	Exit	Japan Smaller Capitalization F	$0	–	-177,325	–	-0.89%	–
ABT	Exit	Abbott Laboratories	$0	–	-22,245	–	-1.07%	–
PYPL	Exit	PayPal Holdings Inc.	$0	–	-20,675	–	-1.23%	–
	Exit	Eaton Corp. PLC	$0	–	-28,300	–	-1.35%	–
HAL	Exit	Halliburton Co.	$0	–	-125,000	–	-1.35%	–
DVN	Exit	Devon Energy	$0	–	-100,914	–	-1.39%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-8,820	–	-1.46%	–
NCR	Exit	NCR Corp.	$0	–	-86,050	–	-1.56%	–
PHG	Exit	Philips	$0	–	-68,295	–	-1.80%	–
CMCSA	Exit	Comcast CL A	$0	–	-70,425	–	-1.82%	–
WFC	Exit	Wells Fargo Co.	$0	–	-63,291	–	-1.83%	–
OXY	Exit	Occidental Petroleum	$0	–	-72,839	–	-1.86%	–
APTV	Exit	Aptiv PLC	$0	–	-39,510	–	-1.98%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-33,189	–	-2.24%	–
UTX	Exit	United Technologies	$0	–	-28,810	–	-2.25%	–
BWA	Exit	Borg Warner Inc.	$0	–	-107,600	–	-2.26%	–
DD	Exit	DuPont de Nemours Inc.	$0	–	-60,666	–	-2.48%	–
WRK	Exit	Westrock Company	$0	–	-118,725	–	-2.48%	–
DOW	Exit	Dow Inc.	$0	–	-94,921	–	-2.59%	–
JNJ	Exit	Johnson & Johnson	$0	–	-37,056	–	-2.75%	–
VZ	Exit	Verizon Communications	$0	–	-81,830	–	-2.83%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-48,275	–	-3.04%	–
T	Exit	AT & T Corp.	$0	–	-146,844	–	-3.18%	–
PFE	Exit	Pfizer Inc.	$0	–	-155,628	–	-3.20%	–
IP	Exit	International Paper	$0	–	-134,395	–	-3.22%	–
GLW	Exit	Corning	$0	–	-197,975	–	-3.23%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-235,631	–	-3.74%	–
MRK	Exit	Merck & Co.	$0	–	-94,642	–	-4.56%	–
INTC	Exit	Intel	$0	–	-156,032	–	-4.60%	–
BAC	Exit	Bank of America Corp.	$0	–	-277,091	–	-4.63%	–
CSCO	Exit	Cisco Systems	$0	–	-170,350	–	-4.82%	–
HON	Exit	Honeywell Int'l	$0	–	-51,634	–	-5.00%	–
MSFT	Exit	Microsoft	$0	–	-65,309	–	-5.20%	–

Q3 2019

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$9,080,000	+2.2%	65,309	-1.5%	5.20%	+5.5%
HON	Sell	Honeywell Int'l	$8,737,000	-5.0%	51,634	-1.9%	5.00%	-1.9%
CSCO	Sell	Cisco Systems	$8,417,000	-12.1%	170,350	-2.7%	4.82%	-9.3%
BAC	Sell	Bank of America Corp.	$8,083,000	-0.5%	277,091	-1.1%	4.63%	+2.7%
INTC	Sell	Intel	$8,040,000	+5.8%	156,032	-1.7%	4.60%	+9.2%
MRK	Sell	Merck & Co.	$7,967,000	-6.6%	94,642	-7.0%	4.56%	-3.6%
WY	Sell	Weyerhaeuser Co.	$6,527,000	+3.7%	235,631	-1.4%	3.74%	+7.0%
GLW	Sell	Corning	$5,646,000	-16.3%	197,975	-2.4%	3.23%	-13.6%
IP	Buy	International Paper	$5,620,000	-1.8%	134,395	+1.7%	3.22%	+1.4%
PFE	Sell	Pfizer Inc.	$5,592,000	-18.9%	155,628	-2.3%	3.20%	-16.3%
T	Sell	AT & T Corp.	$5,557,000	+10.7%	146,844	-1.9%	3.18%	+14.3%
LOW	Sell	Lowe's Companies, Inc.	$5,308,000	+7.1%	48,275	-1.7%	3.04%	+10.5%
VZ	Sell	Verizon Communications	$4,939,000	+2.5%	81,830	-3.0%	2.83%	+5.8%
JNJ	Sell	Johnson & Johnson	$4,794,000	-35.0%	37,056	-30.0%	2.75%	-32.9%
DOW	Buy	Dow Inc.	$4,523,000	+3.4%	94,921	+7.0%	2.59%	+6.7%
WRK	Sell	Westrock Company	$4,328,000	-1.7%	118,725	-1.7%	2.48%	+1.4%
DD	Buy	DuPont de Nemours Inc.	$4,326,000	+14.0%	60,666	+20.0%	2.48%	+17.7%
BWA	Buy	Borg Warner Inc.	$3,947,000	+16.4%	107,600	+33.3%	2.26%	+20.2%
UTX	Buy	United Technologies	$3,933,000	+5.2%	28,810	+0.3%	2.25%	+8.6%
JPM	Buy	JP Morgan Chase & Co.	$3,906,000	+16.1%	33,189	+10.3%	2.24%	+19.8%
APTV	Buy	Aptiv PLC	$3,454,000	+35.2%	39,510	+25.0%	1.98%	+39.5%
OXY	Buy	Occidental Petroleum	$3,239,000	-4.4%	72,839	+8.1%	1.86%	-1.3%
WFC	Sell	Wells Fargo Co.	$3,192,000	+3.9%	63,291	-2.5%	1.83%	+7.3%
CMCSA	Buy	Comcast CL A	$3,175,000	+46.7%	70,425	+37.6%	1.82%	+51.4%
PHG	Sell	Philips	$3,150,000	-0.3%	68,295	-5.8%	1.80%	+2.9%
NCR	Sell	NCR Corp.	$2,716,000	-2.2%	86,050	-3.6%	1.56%	+0.9%
COST	Sell	Costco Wholesale Corp.	$2,541,000	+2.9%	8,820	-5.6%	1.46%	+6.1%
DVN	Sell	Devon Energy	$2,428,000	-20.5%	100,914	-5.7%	1.39%	-17.9%
HAL	Sell	Halliburton Co.	$2,356,000	-19.0%	125,000	-2.3%	1.35%	-16.4%
	Buy	Eaton Corp. PLC	$2,353,000	+81.4%	28,300	+81.7%	1.35%	+87.2%
PYPL	Sell	PayPal Holdings Inc.	$2,142,000	-15.7%	20,675	-6.9%	1.23%	-13.0%
ABT	Sell	Abbott Laboratories	$1,861,000	-1.4%	22,245	-0.9%	1.07%	+1.7%
PAYX	Sell	Paychex Inc	$1,478,000	-6.0%	17,854	-6.5%	0.85%	-3.0%
MRO	Buy	Marathon Oil Corp.	$1,378,000	-13.1%	112,325	+0.6%	0.79%	-10.3%
HD	Sell	Home Depot Inc.	$1,090,000	+3.8%	4,700	-6.9%	0.62%	+7.0%
KMB	Sell	Kimberly-Clark	$877,000	+1.3%	6,175	-5.0%	0.50%	+4.4%
CVX	Sell	Chevron Corp.	$836,000	-7.9%	7,050	-3.4%	0.48%	-5.0%
LLY	Sell	Lilly, Eli	$542,000	-2.9%	4,844	-3.9%	0.31%	0.0%
PNC	Sell	PNC Financial Services Grp.	$532,000	-7.6%	3,795	-9.5%	0.30%	-4.7%
PCAR	Sell	Paccar Inc.	$473,000	-66.7%	6,750	-65.9%	0.27%	-65.6%
ABBV	Sell	AbbVie Inc.	$265,000	-10.2%	3,500	-13.6%	0.15%	-7.3%
DUK	Exit	Duke Energy Corp.	$0	–	-2,490	–	-0.12%	–
DOV	Exit	Dover Corp	$0	–	-2,550	–	-0.14%	–
CTVA	Exit	Corteva Inc.	$0	–	-50,779	–	-0.83%	–

Q2 2019

			Value		Shares		↓ Weighting
CSCO	New	Cisco Systems	$9,578,000	–	175,000	–	5.32%	–
HON	New	Honeywell Int'l	$9,194,000	–	52,659	–	5.10%	–
MSFT	New	Microsoft	$8,881,000	–	66,299	–	4.93%	–
MRK	New	Merck & Co.	$8,529,000	–	101,717	–	4.73%	–
BAC	New	Bank of America Corp.	$8,124,000	–	280,141	–	4.51%	–
INTC	New	Intel	$7,601,000	–	158,782	–	4.22%	–
JNJ	New	Johnson & Johnson	$7,374,000	–	52,946	–	4.09%	–
PFE	New	Pfizer Inc.	$6,899,000	–	159,253	–	3.83%	–
GLW	New	Corning	$6,743,000	–	202,925	–	3.74%	–
WY	New	Weyerhaeuser Co.	$6,295,000	–	238,986	–	3.49%	–
IP	New	International Paper	$5,723,000	–	132,120	–	3.18%	–
T	New	AT & T Corp.	$5,018,000	–	149,744	–	2.78%	–
LOW	New	Lowe's Companies, Inc.	$4,957,000	–	49,125	–	2.75%	–
VZ	New	Verizon Communications	$4,818,000	–	84,330	–	2.67%	–
WRK	New	Westrock Company	$4,404,000	–	120,750	–	2.44%	–
DOW	New	Dow Inc.	$4,373,000	–	88,685	–	2.43%	–
DD	New	DuPont de Nemours Inc.	$3,794,000	–	50,543	–	2.10%	–
UTX	New	United Technologies	$3,738,000	–	28,710	–	2.07%	–
BWA	New	Borg Warner Inc.	$3,390,000	–	80,750	–	1.88%	–
OXY	New	Occidental Petroleum	$3,388,000	–	67,375	–	1.88%	–
JPM	New	JP Morgan Chase & Co.	$3,364,000	–	30,089	–	1.87%	–
PHG	New	Philips	$3,159,000	–	72,495	–	1.75%	–
WFC	New	Wells Fargo Co.	$3,071,000	–	64,891	–	1.70%	–
DVN	New	Devon Energy	$3,053,000	–	107,064	–	1.69%	–
HAL	New	Halliburton Co.	$2,908,000	–	127,900	–	1.61%	–
NCR	New	NCR Corp.	$2,776,000	–	89,250	–	1.54%	–
APTV	New	Aptiv PLC	$2,555,000	–	31,610	–	1.42%	–
PYPL	New	PayPal Holdings Inc.	$2,541,000	–	22,200	–	1.41%	–
COST	New	Costco Wholesale Corp.	$2,470,000	–	9,345	–	1.37%	–
CMCSA	New	Comcast CL A	$2,164,000	–	51,175	–	1.20%	–
ABT	New	Abbott Laboratories	$1,888,000	–	22,445	–	1.05%	–
MRO	New	Marathon Oil Corp.	$1,586,000	–	111,625	–	0.88%	–
PAYX	New	Paychex Inc	$1,572,000	–	19,104	–	0.87%	–
JOF	New	Japan Smaller Capitalization F	$1,507,000	–	177,325	–	0.84%	–
CTVA	New	Corteva Inc.	$1,502,000	–	50,779	–	0.83%	–
PCAR	New	Paccar Inc.	$1,419,000	–	19,800	–	0.79%	–
	New	Eaton Corp. PLC	$1,297,000	–	15,575	–	0.72%	–
MMM	New	3M Company	$1,157,000	–	6,675	–	0.64%	–
HD	New	Home Depot Inc.	$1,050,000	–	5,050	–	0.58%	–
SLB	New	Schlumberger, Ltd.	$1,021,000	–	25,697	–	0.57%	–
CVX	New	Chevron Corp.	$908,000	–	7,300	–	0.50%	–
CL	New	Colgate Palmolive	$892,000	–	12,450	–	0.50%	–
KMB	New	Kimberly-Clark	$866,000	–	6,500	–	0.48%	–
NVS	New	Novartis AG ADR	$853,000	–	9,344	–	0.47%	–
PG	New	Procter & Gamble	$828,000	–	7,552	–	0.46%	–
NSRGY	New	Nestle S A ADR	$757,000	–	7,325	–	0.42%	–
SYK	New	Stryker	$750,000	–	3,650	–	0.42%	–
XOM	New	Exxon Mobil	$729,000	–	9,518	–	0.40%	–
ADI	New	Analog Devices	$728,000	–	6,450	–	0.40%	–
EOG	New	EOG Resources, Inc.	$592,000	–	6,350	–	0.33%	–
PNC	New	PNC Financial Services Grp.	$576,000	–	4,195	–	0.32%	–
LLY	New	Lilly, Eli	$558,000	–	5,041	–	0.31%	–
FDX	New	Fedex Corp.	$550,000	–	3,350	–	0.30%	–
NFG	New	National Fuel Gas	$514,000	–	9,735	–	0.28%	–
AVB	New	AvalonBay Communities	$480,000	–	2,364	–	0.27%	–
ADP	New	Automatic Data Proc	$446,000	–	2,700	–	0.25%	–
AAPL	New	Apple Computer	$426,000	–	2,150	–	0.24%	–
UNP	New	Union Pacific Corp.	$372,000	–	2,200	–	0.21%	–
UL	New	Unilever PLC ADR	$331,000	–	5,337	–	0.18%	–
CTAS	New	Cintas Corp	$297,000	–	1,250	–	0.16%	–
ABBV	New	AbbVie Inc.	$295,000	–	4,050	–	0.16%	–
CVS	New	CVS Health Corporation	$278,000	–	5,105	–	0.15%	–
SO	New	Southern Co.	$263,000	–	4,750	–	0.15%	–
DOV	New	Dover Corp	$256,000	–	2,550	–	0.14%	–
NEE	New	Nextera Energy Inc.	$256,000	–	1,247	–	0.14%	–
COP	New	Conocophillips	$244,000	–	4,000	–	0.14%	–
IBM	New	Int'l Bus Machines	$221,000	–	1,600	–	0.12%	–
DUK	New	Duke Energy Corp.	$220,000	–	2,490	–	0.12%	–
KO	New	Coca-Cola Co.	$214,000	–	4,200	–	0.12%	–
GIS	New	General Mills	$209,000	–	3,970	–	0.12%	–
LCNTU	New	LA Cent Oil&Gas Co.	$203,000	–	225	–	0.11%	–
AMGN	New	Amgen	$203,000	–	1,100	–	0.11%	–

Q4 2018

			Value		Shares		↓ Weighting
SO	Exit	Southern Co.	$0	–	-4,750	–	-0.11%	–
NEE	Exit	Nextera Energy Inc.	$0	–	-1,247	–	-0.11%	–
GIS	Exit	General Mills	$0	–	-4,970	–	-0.11%	–
LCNTU	Exit	LA Cent Oil&Gas Co.	$0	–	-225	–	-0.12%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-4,400	–	-0.12%	–
DOV	Exit	Dover Corp	$0	–	-2,550	–	-0.12%	–
SYY	Exit	Sysco	$0	–	-3,091	–	-0.12%	–
AMGN	Exit	Amgen	$0	–	-1,100	–	-0.12%	–
DUK	Exit	Duke Energy Corp.	$0	–	-3,186	–	-0.14%	–
CTAS	Exit	Cintas Corp	$0	–	-1,300	–	-0.14%	–
COP	Exit	Conocophillips	$0	–	-4,000	–	-0.17%	–
UL	Exit	Unilever PLC ADR	$0	–	-6,337	–	-0.19%	–
UNP	Exit	Union Pacific Corp.	$0	–	-2,200	–	-0.19%	–
UTX	Exit	United Technologies	$0	–	-2,627	–	-0.20%	–
ADP	Exit	Automatic Data Proc	$0	–	-2,700	–	-0.22%	–
IBM	Exit	Int'l Bus Machines	$0	–	-2,776	–	-0.22%	–
AAPL	Exit	Apple Computer	$0	–	-1,925	–	-0.23%	–
PNC	Exit	PNC Financial Services Grp.	$0	–	-3,195	–	-0.23%	–
JOF	Exit	Japan Smaller Capitalization F	$0	–	-41,500	–	-0.24%	–
AVB	Exit	AvalonBay Communities	$0	–	-2,664	–	-0.26%	–
PCAR	Exit	Paccar Inc.	$0	–	-7,100	–	-0.26%	–
ABBV	Exit	AbbVie Inc.	$0	–	-5,725	–	-0.29%	–
LLY	Exit	Lilly, Eli	$0	–	-5,393	–	-0.31%	–
ADI	Exit	Analog Devices	$0	–	-6,289	–	-0.31%	–
NFG	Exit	National Fuel Gas	$0	–	-10,735	–	-0.32%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-7,325	–	-0.32%	–
SYK	Exit	Stryker	$0	–	-3,650	–	-0.35%	–
KMB	Exit	Kimberly-Clark	$0	–	-6,890	–	-0.42%	–
FDX	Exit	Fedex Corp.	$0	–	-3,350	–	-0.43%	–
CL	Exit	Colgate Palmolive	$0	–	-12,750	–	-0.46%	–
NVS	Exit	Novartis AG ADR	$0	–	-10,019	–	-0.46%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-7,150	–	-0.49%	–
XOM	Exit	Exxon Mobil	$0	–	-10,766	–	-0.49%	–
CVX	Exit	Chevron Corp.	$0	–	-8,350	–	-0.54%	–
HD	Exit	Home Depot Inc.	$0	–	-5,300	–	-0.59%	–
CVS	Exit	CVS Health Corporation	$0	–	-14,254	–	-0.60%	–
PAYX	Exit	Paychex Inc	$0	–	-18,999	–	-0.75%	–
MMM	Exit	3M Company	$0	–	-6,775	–	-0.76%	–
APC	Exit	Anadarko Petroleum	$0	–	-25,450	–	-0.92%	–
ABT	Exit	Abbott Laboratories	$0	–	-23,645	–	-0.93%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-33,675	–	-1.10%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-9,695	–	-1.22%	–
WFC	Exit	Wells Fargo Co.	$0	–	-45,366	–	-1.27%	–
CTB	Exit	Cooper Tire & Rubber	$0	–	-85,450	–	-1.29%	–
GT	Exit	Goodyear Tire & Rub	$0	–	-103,650	–	-1.30%	–
PYPL	Exit	PayPal Holdings Inc.	$0	–	-28,785	–	-1.35%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-110,375	–	-1.37%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-23,989	–	-1.45%	–
HAL	Exit	Halliburton Co.	$0	–	-69,775	–	-1.51%	–
PHG	Exit	Philips	$0	–	-72,617	–	-1.76%	–
NCR	Exit	NCR Corp.	$0	–	-121,850	–	-1.85%	–
T	Exit	AT & T Corp.	$0	–	-122,132	–	-2.19%	–
WRK	Exit	Westrock Company	$0	–	-77,159	–	-2.20%	–
PG	Exit	Procter & Gamble	$0	–	-50,601	–	-2.25%	–
VZ	Exit	Verizon Communications	$0	–	-83,062	–	-2.37%	–
DVN	Exit	Devon Energy	$0	–	-113,364	–	-2.42%	–
OXY	Exit	Occidental Petroleum	$0	–	-63,200	–	-2.77%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-50,225	–	-3.08%	–
IP	Exit	International Paper	$0	–	-135,314	–	-3.55%	–
GLW	Exit	Corning	$0	–	-211,350	–	-3.98%	–
PFE	Exit	Pfizer Inc.	$0	–	-169,698	–	-4.00%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-240,646	–	-4.15%	–
MRK	Exit	Merck & Co.	$0	–	-110,897	–	-4.20%	–
INTC	Exit	Intel	$0	–	-168,887	–	-4.27%	–
JNJ	Exit	Johnson & Johnson	$0	–	-58,581	–	-4.32%	–
BAC	Exit	Bank of America Corp.	$0	–	-291,891	–	-4.59%	–
HON	Exit	Honeywell Int'l	$0	–	-54,128	–	-4.76%	–
CSCO	Exit	Cisco Systems	$0	–	-184,825	–	-4.80%	–
DWDP	Exit	DowDupont	$0	–	-144,657	–	-4.97%	–
MSFT	Exit	Microsoft	$0	–	-103,221	–	-6.31%	–

Q3 2018

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$11,805,000	+6.8%	103,221	-8.0%	6.31%	+6.4%
DWDP	Sell	DowDupont	$9,303,000	-3.4%	144,657	-1.0%	4.97%	-3.8%
CSCO	Sell	Cisco Systems	$8,992,000	+12.1%	184,825	-0.8%	4.80%	+11.7%
HON	Sell	Honeywell Int'l	$8,907,000	+13.7%	54,128	-0.5%	4.76%	+13.3%
BAC	Sell	Bank of America Corp.	$8,599,000	+2.5%	291,891	-1.9%	4.59%	+2.1%
JNJ	Buy	Johnson & Johnson	$8,094,000	+13.9%	58,581	+0.0%	4.32%	+13.5%
INTC	Sell	Intel	$7,987,000	-4.9%	168,887	-0.1%	4.27%	-5.3%
MRK	Sell	Merck & Co.	$7,867,000	+14.8%	110,897	-1.8%	4.20%	+14.4%
WY	Sell	Weyerhaeuser Co.	$7,766,000	-13.6%	240,646	-2.4%	4.15%	-13.9%
PFE	Sell	Pfizer Inc.	$7,479,000	+20.6%	169,698	-0.7%	4.00%	+20.1%
GLW	Sell	Corning	$7,461,000	+27.1%	211,350	-0.9%	3.98%	+26.6%
IP	Sell	International Paper	$6,651,000	-7.9%	135,314	-2.5%	3.55%	-8.3%
LOW	Sell	Lowe's Companies, Inc.	$5,767,000	+19.2%	50,225	-0.8%	3.08%	+18.8%
OXY	Sell	Occidental Petroleum	$5,193,000	-3.0%	63,200	-1.2%	2.77%	-3.4%
DVN	Sell	Devon Energy	$4,528,000	-9.5%	113,364	-0.4%	2.42%	-9.8%
VZ	Sell	Verizon Communications	$4,435,000	+5.0%	83,062	-1.1%	2.37%	+4.6%
PG	Sell	Procter & Gamble	$4,212,000	+3.5%	50,601	-3.0%	2.25%	+3.1%
WRK	Sell	Westrock Company	$4,123,000	-6.7%	77,159	-0.5%	2.20%	-7.1%
T	Buy	AT & T Corp.	$4,101,000	+8.1%	122,132	+3.4%	2.19%	+7.7%
NCR	Sell	NCR Corp.	$3,462,000	-16.3%	121,850	-11.7%	1.85%	-16.6%
PHG	Sell	Philips	$3,305,000	+5.6%	72,617	-1.9%	1.76%	+5.2%
HAL	Sell	Halliburton Co.	$2,828,000	-10.2%	69,775	-0.2%	1.51%	-10.5%
JPM	Sell	JP Morgan Chase & Co.	$2,707,000	+8.1%	23,989	-0.2%	1.45%	+7.7%
MRO	Sell	Marathon Oil Corp.	$2,570,000	+9.7%	110,375	-1.7%	1.37%	+9.3%
PYPL	Sell	PayPal Holdings Inc.	$2,528,000	+4.9%	28,785	-0.6%	1.35%	+4.4%
GT	Sell	Goodyear Tire & Rub	$2,424,000	-30.0%	103,650	-30.3%	1.30%	-30.3%
CTB	Sell	Cooper Tire & Rubber	$2,418,000	-10.0%	85,450	-16.3%	1.29%	-10.3%
WFC	Buy	Wells Fargo Co.	$2,384,000	-1.2%	45,366	+4.2%	1.27%	-1.6%
SLB	Sell	Schlumberger, Ltd.	$2,051,000	-13.7%	33,675	-5.0%	1.10%	-14.0%
ABT	Sell	Abbott Laboratories	$1,735,000	+17.8%	23,645	-2.1%	0.93%	+17.3%
APC	Sell	Anadarko Petroleum	$1,716,000	-9.4%	25,450	-1.6%	0.92%	-9.7%
PAYX	Sell	Paychex Inc	$1,399,000	+7.0%	18,999	-0.7%	0.75%	+6.6%
CVS	Sell	CVS Health Corporation	$1,122,000	+18.2%	14,254	-3.4%	0.60%	+17.7%
XOM	Buy	Exxon Mobil	$915,000	+8.4%	10,766	+5.5%	0.49%	+8.2%
NVS	Buy	Novartis AG ADR	$863,000	+16.8%	10,019	+2.5%	0.46%	+16.4%
CL	Sell	Colgate Palmolive	$854,000	+0.9%	12,750	-2.3%	0.46%	+0.4%
KMB	Sell	Kimberly-Clark	$783,000	+1.8%	6,890	-5.6%	0.42%	+1.5%
ADI	Sell	Analog Devices	$581,000	-5.4%	6,289	-1.7%	0.31%	-5.8%
LLY	Sell	Lilly, Eli	$579,000	+21.9%	5,393	-3.1%	0.31%	+21.2%
PCAR	Buy	Paccar Inc.	$484,000	+13.1%	7,100	+2.9%	0.26%	+13.1%
JOF	New	Japan Smaller Capitalization F	$459,000	–	41,500	–	0.24%	–
PNC	Buy	PNC Financial Services Grp.	$435,000	+84.3%	3,195	+82.6%	0.23%	+82.7%
IBM	Sell	Int'l Bus Machines	$420,000	+4.5%	2,776	-3.6%	0.22%	+3.7%
UTX	Sell	United Technologies	$367,000	+8.6%	2,627	-2.9%	0.20%	+8.3%
UL	Buy	Unilever PLC ADR	$348,000	+0.3%	6,337	+1.0%	0.19%	0.0%
CTAS	Sell	Cintas Corp	$257,000	+2.8%	1,300	-3.7%	0.14%	+2.2%
SYY	New	Sysco	$226,000	–	3,091	–	0.12%	–
DOV	New	Dover Corp	$226,000	–	2,550	–	0.12%	–
GIS	Buy	General Mills	$213,000	+0.5%	4,970	+3.5%	0.11%	0.0%
NEE	New	Nextera Energy Inc.	$209,000	–	1,247	–	0.11%	–
SO	Sell	Southern Co.	$207,000	-11.5%	4,750	-5.9%	0.11%	-11.2%
VOD	Exit	Vodafone Group PLC ADR	$0	–	-106,909	–	-1.39%	–
BGGSQ	Exit	Briggs & Stratton	$0	–	-205,011	–	-1.94%	–

Q2 2018

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$11,058,000	–	112,136	–	5.93%	–
DWDP	New	DowDupont	$9,635,000	–	146,157	–	5.17%	–
WY	New	Weyerhaeuser Co.	$8,986,000	–	246,475	–	4.82%	–
INTC	New	Intel	$8,401,000	–	169,000	–	4.50%	–
BAC	New	Bank of America Corp.	$8,390,000	–	297,641	–	4.50%	–
CSCO	New	Cisco Systems	$8,020,000	–	186,375	–	4.30%	–
HON	New	Honeywell Int'l	$7,836,000	–	54,398	–	4.20%	–
IP	New	International Paper	$7,225,000	–	138,720	–	3.87%	–
JNJ	New	Johnson & Johnson	$7,105,000	–	58,555	–	3.81%	–
MRK	New	Merck & Co.	$6,853,000	–	112,894	–	3.67%	–
PFE	New	Pfizer Inc.	$6,203,000	–	170,970	–	3.33%	–
GLW	New	Corning	$5,869,000	–	213,350	–	3.15%	–
OXY	New	Occidental Petroleum	$5,356,000	–	64,000	–	2.87%	–
DVN	New	Devon Energy	$5,005,000	–	113,848	–	2.68%	–
LOW	New	Lowe's Companies, Inc.	$4,838,000	–	50,625	–	2.59%	–
WRK	New	Westrock Company	$4,420,000	–	77,509	–	2.37%	–
VZ	New	Verizon Communications	$4,225,000	–	83,975	–	2.26%	–
NCR	New	NCR Corp.	$4,138,000	–	138,025	–	2.22%	–
PG	New	Procter & Gamble	$4,070,000	–	52,144	–	2.18%	–
T	New	AT & T Corp.	$3,793,000	–	118,132	–	2.03%	–
BGGSQ	New	Briggs & Stratton	$3,610,000	–	205,011	–	1.94%	–
GT	New	Goodyear Tire & Rub	$3,463,000	–	148,700	–	1.86%	–
HAL	New	Halliburton Co.	$3,150,000	–	69,900	–	1.69%	–
PHG	New	Philips	$3,129,000	–	74,017	–	1.68%	–
CTB	New	Cooper Tire & Rubber	$2,687,000	–	102,150	–	1.44%	–
VOD	New	Vodafone Group PLC ADR	$2,599,000	–	106,909	–	1.39%	–
JPM	New	JP Morgan Chase & Co.	$2,505,000	–	24,043	–	1.34%	–
WFC	New	Wells Fargo Co.	$2,414,000	–	43,550	–	1.29%	–
PYPL	New	PayPal Holdings Inc.	$2,411,000	–	28,960	–	1.29%	–
SLB	New	Schlumberger, Ltd.	$2,376,000	–	35,450	–	1.27%	–
MRO	New	Marathon Oil Corp.	$2,342,000	–	112,275	–	1.26%	–
COST	New	Costco Wholesale Corp.	$2,026,000	–	9,695	–	1.09%	–
APC	New	Anadarko Petroleum	$1,895,000	–	25,875	–	1.02%	–
ABT	New	Abbott Laboratories	$1,473,000	–	24,145	–	0.79%	–
MMM	New	3M Company	$1,333,000	–	6,775	–	0.72%	–
PAYX	New	Paychex Inc	$1,307,000	–	19,124	–	0.70%	–
CVX	New	Chevron Corp.	$1,056,000	–	8,350	–	0.57%	–
HD	New	Home Depot Inc.	$1,034,000	–	5,300	–	0.55%	–
CVS	New	CVS Health Corporation	$949,000	–	14,750	–	0.51%	–
EOG	New	EOG Resources, Inc.	$890,000	–	7,150	–	0.48%	–
CL	New	Colgate Palmolive	$846,000	–	13,050	–	0.45%	–
XOM	New	Exxon Mobil	$844,000	–	10,207	–	0.45%	–
KMB	New	Kimberly-Clark	$769,000	–	7,300	–	0.41%	–
FDX	New	Fedex Corp.	$761,000	–	3,350	–	0.41%	–
NVS	New	Novartis AG ADR	$739,000	–	9,778	–	0.40%	–
SYK	New	Stryker	$616,000	–	3,650	–	0.33%	–
ADI	New	Analog Devices	$614,000	–	6,401	–	0.33%	–
NFG	New	National Fuel Gas	$569,000	–	10,735	–	0.30%	–
NSRGY	New	Nestle S A ADR	$567,000	–	7,325	–	0.30%	–
ABBV	New	AbbVie Inc.	$530,000	–	5,725	–	0.28%	–
LLY	New	Lilly, Eli	$475,000	–	5,567	–	0.26%	–
AVB	New	AvalonBay Communities	$458,000	–	2,664	–	0.25%	–
PCAR	New	Paccar Inc.	$428,000	–	6,900	–	0.23%	–
IBM	New	Int'l Bus Machines	$402,000	–	2,880	–	0.22%	–
ADP	New	Automatic Data Proc	$362,000	–	2,700	–	0.19%	–
AAPL	New	Apple Computer	$356,000	–	1,925	–	0.19%	–
UL	New	Unilever PLC ADR	$347,000	–	6,275	–	0.19%	–
UTX	New	United Technologies	$338,000	–	2,705	–	0.18%	–
UNP	New	Union Pacific Corp.	$312,000	–	2,200	–	0.17%	–
COP	New	Conocophillips	$278,000	–	4,000	–	0.15%	–
DUK	New	Duke Energy Corp.	$252,000	–	3,186	–	0.14%	–
CTAS	New	Cintas Corp	$250,000	–	1,350	–	0.13%	–
BK	New	Bank New York Mellon Corp.	$237,000	–	4,400	–	0.13%	–
PNC	New	PNC Financial Services Grp.	$236,000	–	1,750	–	0.13%	–
SO	New	Southern Co.	$234,000	–	5,050	–	0.12%	–
LCNTU	New	LA Cent Oil&Gas Co.	$214,000	–	225	–	0.12%	–
GIS	New	General Mills	$212,000	–	4,800	–	0.11%	–
AMGN	New	Amgen	$203,000	–	1,100	–	0.11%	–

Q4 2017

			Value		Shares		↓ Weighting
COP	Exit	Conocophillips	$0	–	-4,000	–	-0.10%	–
CTAS	Exit	Cintas Corp	$0	–	-1,500	–	-0.11%	–
AMGN	Exit	Amgen	$0	–	-1,200	–	-0.12%	–
PNC	Exit	PNC Financial Services Grp.	$0	–	-1,750	–	-0.12%	–
AAPL	Exit	Apple Computer	$0	–	-1,575	–	-0.12%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-4,643	–	-0.13%	–
UNP	Exit	Union Pacific Corp.	$0	–	-2,200	–	-0.13%	–
SYY	Exit	Sysco	$0	–	-4,900	–	-0.14%	–
DOV	Exit	Dover Corp	$0	–	-2,925	–	-0.14%	–
DUK	Exit	Duke Energy Corp.	$0	–	-3,219	–	-0.14%	–
SO	Exit	Southern Co.	$0	–	-6,000	–	-0.15%	–
ADP	Exit	Automatic Data Proc	$0	–	-2,700	–	-0.15%	–
UTX	Exit	United Technologies	$0	–	-2,705	–	-0.16%	–
UL	Exit	Unilever PLC ADR	$0	–	-6,640	–	-0.20%	–
GIS	Exit	General Mills	$0	–	-7,600	–	-0.20%	–
GE	Exit	General Electric	$0	–	-16,678	–	-0.21%	–
PCAR	Exit	Paccar Inc.	$0	–	-5,850	–	-0.22%	–
IBM	Exit	Int'l Bus Machines	$0	–	-3,180	–	-0.24%	–
LLY	Exit	Lilly, Eli	$0	–	-6,067	–	-0.27%	–
ADI	Exit	Analog Devices	$0	–	-6,151	–	-0.27%	–
AVB	Exit	AvalonBay Communities	$0	–	-3,027	–	-0.28%	–
SYK	Exit	Stryker	$0	–	-3,850	–	-0.28%	–
NFG	Exit	National Fuel Gas	$0	–	-12,250	–	-0.36%	–
BCR	Exit	C R Bard Inc.	$0	–	-2,350	–	-0.39%	–
FDX	Exit	Fedex Corp.	$0	–	-3,400	–	-0.40%	–
NVS	Exit	Novartis AG ADR	$0	–	-10,280	–	-0.46%	–
KMB	Exit	Kimberly-Clark	$0	–	-7,800	–	-0.47%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-10,050	–	-0.50%	–
ABBV	Exit	AbbVie Inc.	$0	–	-11,700	–	-0.54%	–
XOM	Exit	Exxon Mobil	$0	–	-12,685	–	-0.54%	–
CL	Exit	Colgate Palmolive	$0	–	-14,350	–	-0.54%	–
CVX	Exit	Chevron Corp.	$0	–	-9,350	–	-0.57%	–
T	Exit	AT & T Corp.	$0	–	-28,531	–	-0.58%	–
PAYX	Exit	Paychex Inc	$0	–	-19,324	–	-0.60%	–
HD	Exit	Home Depot Inc.	$0	–	-7,850	–	-0.66%	–
APC	Exit	Anadarko Petroleum	$0	–	-31,125	–	-0.78%	–
MMM	Exit	3M Company	$0	–	-7,600	–	-0.82%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-9,995	–	-0.85%	–
ABT	Exit	Abbott Laboratories	$0	–	-31,169	–	-0.86%	–
PYPL	Exit	PayPal Holdings Inc.	$0	–	-30,150	–	-1.00%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-148,350	–	-1.04%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-24,843	–	-1.22%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-42,367	–	-1.52%	–
DVN	Exit	Devon Energy	$0	–	-85,296	–	-1.62%	–
VOD	Exit	Vodafone Group PLC ADR	$0	–	-110,497	–	-1.62%	–
CTB	Exit	Cooper Tire & Rubber	$0	–	-84,872	–	-1.64%	–
HAL	Exit	Halliburton Co.	$0	–	-70,650	–	-1.68%	–
PHG	Exit	Philips	$0	–	-81,574	–	-1.73%	–
OXY	Exit	Occidental Petroleum	$0	–	-57,175	–	-1.89%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-44,112	–	-1.91%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-49,375	–	-2.04%	–
VZ	Exit	Verizon Communications	$0	–	-85,350	–	-2.18%	–
NCR	Exit	NCR Corp.	$0	–	-116,150	–	-2.25%	–
WRK	Exit	Westrock Company	$0	–	-78,884	–	-2.31%	–
BGGSQ	Exit	Briggs & Stratton	$0	–	-199,050	–	-2.41%	–
GT	Exit	Goodyear Tire & Rub	$0	–	-141,850	–	-2.43%	–
PG	Exit	Procter & Gamble	$0	–	-56,701	–	-2.66%	–
CVS	Exit	CVS Health Corporation	$0	–	-73,310	–	-3.08%	–
PFE	Exit	Pfizer Inc.	$0	–	-184,868	–	-3.40%	–
GLW	Exit	Corning	$0	–	-225,075	–	-3.47%	–
INTC	Exit	Intel	$0	–	-180,154	–	-3.54%	–
CSCO	Exit	Cisco Systems	$0	–	-204,750	–	-3.55%	–
MRK	Exit	Merck & Co.	$0	–	-114,384	–	-3.78%	–
BAC	Exit	Bank of America Corp.	$0	–	-312,191	–	-4.08%	–
IP	Exit	International Paper	$0	–	-145,855	–	-4.27%	–
JNJ	Exit	Johnson & Johnson	$0	–	-65,190	–	-4.37%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-255,285	–	-4.48%	–
HON	Exit	Honeywell Int'l	$0	–	-62,133	–	-4.54%	–
MSFT	Exit	Microsoft	$0	–	-129,359	–	-4.97%	–
DWDP	Exit	DowDupont	$0	–	-155,123	–	-5.54%	–

Q3 2017

			Value		Shares		↓ Weighting
DWDP	New	DowDupont	$10,739,000	–	155,123	–	5.54%	–
MSFT	Sell	Microsoft	$9,636,000	+5.8%	129,359	-2.1%	4.97%	-2.4%
HON	Sell	Honeywell Int'l	$8,807,000	+4.2%	62,133	-2.0%	4.54%	-3.8%
WY	Buy	Weyerhaeuser Co.	$8,687,000	+2.1%	255,285	+0.5%	4.48%	-5.8%
JNJ	Sell	Johnson & Johnson	$8,475,000	-3.6%	65,190	-1.9%	4.37%	-11.1%
MRK	Sell	Merck & Co.	$7,324,000	-1.1%	114,384	-1.0%	3.78%	-8.8%
CSCO	Sell	Cisco Systems	$6,886,000	+7.2%	204,750	-0.2%	3.55%	-1.1%
INTC	Buy	Intel	$6,860,000	+13.0%	180,154	+0.1%	3.54%	+4.2%
GLW	Buy	Corning	$6,734,000	+4.0%	225,075	+4.5%	3.47%	-4.0%
PFE	Sell	Pfizer Inc.	$6,600,000	+3.7%	184,868	-2.4%	3.40%	-4.3%
CVS	Sell	CVS Health Corporation	$5,962,000	+0.9%	73,310	-0.1%	3.08%	-6.9%
PG	Sell	Procter & Gamble	$5,159,000	+3.1%	56,701	-1.2%	2.66%	-4.8%
GT	Buy	Goodyear Tire & Rub	$4,717,000	+47.0%	141,850	+54.6%	2.43%	+35.7%
BGGSQ	Sell	Briggs & Stratton	$4,678,000	-2.7%	199,050	-0.3%	2.41%	-10.3%
WRK	Buy	Westrock Company	$4,475,000	+0.6%	78,884	+0.5%	2.31%	-7.2%
NCR	New	NCR Corp.	$4,358,000	–	116,150	–	2.25%	–
VZ	Buy	Verizon Communications	$4,224,000	+13.9%	85,350	+2.8%	2.18%	+5.0%
LOW	New	Lowe's Companies, Inc.	$3,947,000	–	49,375	–	2.04%	–
NSRGY	Sell	Nestle S A ADR	$3,706,000	-6.5%	44,112	-3.0%	1.91%	-13.8%
OXY	Buy	Occidental Petroleum	$3,671,000	+9.5%	57,175	+2.1%	1.89%	+1.0%
PHG	Sell	Philips	$3,361,000	+13.9%	81,574	-1.0%	1.73%	+5.0%
HAL	Sell	Halliburton Co.	$3,252,000	+7.3%	70,650	-0.5%	1.68%	-1.1%
CTB	New	Cooper Tire & Rubber	$3,174,000	–	84,872	–	1.64%	–
VOD	Buy	Vodafone Group PLC ADR	$3,145,000	+13.6%	110,497	+14.7%	1.62%	+4.8%
DVN	Buy	Devon Energy	$3,131,000	+24.3%	85,296	+8.2%	1.62%	+14.7%
SLB	Sell	Schlumberger, Ltd.	$2,956,000	+5.6%	42,367	-0.3%	1.52%	-2.5%
JPM	Buy	JP Morgan Chase & Co.	$2,373,000	+6.4%	24,843	+1.8%	1.22%	-1.8%
MRO	Sell	Marathon Oil Corp.	$2,012,000	+11.2%	148,350	-2.9%	1.04%	+2.6%
MMM	Sell	3M Company	$1,595,000	-3.6%	7,600	-4.4%	0.82%	-11.0%
APC	Buy	Anadarko Petroleum	$1,520,000	+18.1%	31,125	+9.7%	0.78%	+8.9%
HD	Sell	Home Depot Inc.	$1,284,000	+2.7%	7,850	-3.7%	0.66%	-5.3%
ABBV	Sell	AbbVie Inc.	$1,040,000	+16.6%	11,700	-4.9%	0.54%	+7.4%
EOG	Sell	EOG Resources, Inc.	$972,000	-0.6%	10,050	-6.9%	0.50%	-8.4%
KMB	Sell	Kimberly-Clark	$918,000	-10.0%	7,800	-1.3%	0.47%	-17.0%
ADI	Buy	Analog Devices	$530,000	+18.0%	6,151	+6.6%	0.27%	+8.8%
IBM	Sell	Int'l Bus Machines	$461,000	-29.7%	3,180	-25.4%	0.24%	-35.1%
GE	Sell	General Electric	$403,000	-93.4%	16,678	-92.6%	0.21%	-93.9%
UL	Sell	Unilever PLC ADR	$385,000	-51.6%	6,640	-54.8%	0.20%	-55.3%
PNC	New	PNC Financial Services Grp.	$236,000	–	1,750	–	0.12%	–
CTAS	New	Cintas Corp	$216,000	–	1,500	–	0.11%	–
COP	New	Conocophillips	$200,000	–	4,000	–	0.10%	–
DD	Exit	DuPont	$0	–	-34,430	–	-1.55%	–
DOW	Exit	Dow Chemical	$0	–	-113,275	–	-3.99%	–

Q2 2017

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$9,110,000	–	132,159	–	5.09%	–
JNJ	New	Johnson & Johnson	$8,789,000	–	66,440	–	4.91%	–
WY	New	Weyerhaeuser Co.	$8,506,000	–	253,897	–	4.76%	–
HON	New	Honeywell Int'l	$8,448,000	–	63,383	–	4.72%	–
IP	New	International Paper	$8,257,000	–	145,855	–	4.62%	–
BAC	New	Bank of America Corp.	$7,574,000	–	312,191	–	4.23%	–
MRK	New	Merck & Co.	$7,408,000	–	115,584	–	4.14%	–
DOW	New	Dow Chemical	$7,144,000	–	113,275	–	3.99%	–
GLW	New	Corning	$6,474,000	–	215,425	–	3.62%	–
CSCO	New	Cisco Systems	$6,421,000	–	205,150	–	3.59%	–
PFE	New	Pfizer Inc.	$6,364,000	–	189,450	–	3.56%	–
INTC	New	Intel	$6,072,000	–	179,954	–	3.40%	–
GE	New	General Electric	$6,062,000	–	224,443	–	3.39%	–
CVS	New	CVS Health Corporation	$5,907,000	–	73,410	–	3.30%	–
PG	New	Procter & Gamble	$5,002,000	–	57,393	–	2.80%	–
BGGSQ	New	Briggs & Stratton	$4,809,000	–	199,550	–	2.69%	–
WRK	New	Westrock Company	$4,447,000	–	78,484	–	2.49%	–
NSRGY	New	Nestle S A ADR	$3,964,000	–	45,462	–	2.22%	–
VZ	New	Verizon Communications	$3,709,000	–	83,050	–	2.07%	–
OXY	New	Occidental Petroleum	$3,354,000	–	56,025	–	1.88%	–
GT	New	Goodyear Tire & Rub	$3,208,000	–	91,775	–	1.79%	–
HAL	New	Halliburton Co.	$3,032,000	–	71,000	–	1.70%	–
PHG	New	Philips	$2,951,000	–	82,374	–	1.65%	–
SLB	New	Schlumberger, Ltd.	$2,798,000	–	42,492	–	1.56%	–
DD	New	DuPont	$2,779,000	–	34,430	–	1.55%	–
VOD	New	Vodafone Group PLC ADR	$2,768,000	–	96,343	–	1.55%	–
DVN	New	Devon Energy	$2,519,000	–	78,796	–	1.41%	–
JPM	New	JP Morgan Chase & Co.	$2,230,000	–	24,393	–	1.25%	–
MRO	New	Marathon Oil Corp.	$1,810,000	–	152,750	–	1.01%	–
MMM	New	3M Company	$1,655,000	–	7,950	–	0.92%	–
PYPL	New	PayPal Holdings Inc.	$1,618,000	–	30,150	–	0.90%	–
COST	New	Costco Wholesale Corp.	$1,599,000	–	9,995	–	0.89%	–
ABT	New	Abbott Laboratories	$1,515,000	–	31,169	–	0.85%	–
APC	New	Anadarko Petroleum	$1,287,000	–	28,375	–	0.72%	–
HD	New	Home Depot Inc.	$1,250,000	–	8,150	–	0.70%	–
PAYX	New	Paychex Inc	$1,100,000	–	19,324	–	0.62%	–
T	New	AT & T Corp.	$1,076,000	–	28,531	–	0.60%	–
CL	New	Colgate Palmolive	$1,064,000	–	14,350	–	0.60%	–
XOM	New	Exxon Mobil	$1,024,000	–	12,685	–	0.57%	–
KMB	New	Kimberly-Clark	$1,020,000	–	7,900	–	0.57%	–
EOG	New	EOG Resources, Inc.	$978,000	–	10,800	–	0.55%	–
CVX	New	Chevron Corp.	$975,000	–	9,350	–	0.54%	–
ABBV	New	AbbVie Inc.	$892,000	–	12,300	–	0.50%	–
NVS	New	Novartis AG ADR	$858,000	–	10,280	–	0.48%	–
UL	New	Unilever PLC ADR	$796,000	–	14,705	–	0.44%	–
BCR	New	C R Bard Inc.	$743,000	–	2,350	–	0.42%	–
FDX	New	Fedex Corp.	$739,000	–	3,400	–	0.41%	–
NFG	New	National Fuel Gas	$684,000	–	12,250	–	0.38%	–
IBM	New	Int'l Bus Machines	$656,000	–	4,265	–	0.37%	–
AVB	New	AvalonBay Communities	$582,000	–	3,027	–	0.32%	–
SYK	New	Stryker	$534,000	–	3,850	–	0.30%	–
LLY	New	Lilly, Eli	$499,000	–	6,067	–	0.28%	–
ADI	New	Analog Devices	$449,000	–	5,771	–	0.25%	–
GIS	New	General Mills	$421,000	–	7,600	–	0.24%	–
PCAR	New	Paccar Inc.	$386,000	–	5,850	–	0.22%	–
UTX	New	United Technologies	$330,000	–	2,705	–	0.18%	–
SO	New	Southern Co.	$287,000	–	6,000	–	0.16%	–
ADP	New	Automatic Data Proc	$277,000	–	2,700	–	0.16%	–
DUK	New	Duke Energy Corp.	$269,000	–	3,219	–	0.15%	–
SYY	New	Sysco	$247,000	–	4,900	–	0.14%	–
UNP	New	Union Pacific Corp.	$240,000	–	2,200	–	0.13%	–
BK	New	Bank New York Mellon Corp.	$237,000	–	4,643	–	0.13%	–
DOV	New	Dover Corp	$235,000	–	2,925	–	0.13%	–
AAPL	New	Apple Computer	$227,000	–	1,575	–	0.13%	–
AMGN	New	Amgen	$207,000	–	1,200	–	0.12%	–

Q4 2016

			Value		Shares		↓ Weighting
AMGN	Exit	Amgen	$0	–	-1,200	–	-0.11%	–
UNP	Exit	Union Pacific Corp.	$0	–	-2,200	–	-0.12%	–
ADP	Exit	Automatic Data Proc	$0	–	-2,700	–	-0.13%	–
SYY	Exit	Sysco	$0	–	-5,000	–	-0.13%	–
GSK	Exit	Glaxo Smithkline PLC-Spon ADR	$0	–	-5,850	–	-0.14%	–
WFC	Exit	Wells Fargo Co.	$0	–	-6,110	–	-0.15%	–
UTX	Exit	United Technologies	$0	–	-2,705	–	-0.15%	–
DUK	Exit	Duke Energy Corp.	$0	–	-3,602	–	-0.16%	–
ADI	Exit	Analog Devices	$0	–	-5,970	–	-0.21%	–
SO	Exit	Southern Co.	$0	–	-7,950	–	-0.22%	–
SYK	Exit	Stryker	$0	–	-3,950	–	-0.25%	–
GIS	Exit	General Mills	$0	–	-7,600	–	-0.27%	–
LLY	Exit	Lilly, Eli	$0	–	-6,067	–	-0.27%	–
BCR	Exit	C R Bard Inc.	$0	–	-2,350	–	-0.29%	–
AVB	Exit	AvalonBay Communities	$0	–	-3,027	–	-0.30%	–
FDX	Exit	Fedex Corp.	$0	–	-3,400	–	-0.33%	–
PYPL	Exit	PayPal Holdings Inc.	$0	–	-14,575	–	-0.33%	–
IBM	Exit	Int'l Bus Machines	$0	–	-4,132	–	-0.36%	–
NFG	Exit	National Fuel Gas	$0	–	-12,650	–	-0.38%	–
DOV	Exit	Dover Corp	$0	–	-10,750	–	-0.43%	–
ABBV	Exit	AbbVie Inc.	$0	–	-15,150	–	-0.52%	–
T	Exit	AT & T Corp.	$0	–	-24,970	–	-0.56%	–
KMB	Exit	Kimberly-Clark	$0	–	-8,250	–	-0.57%	–
CVX	Exit	Chevron Corp.	$0	–	-10,550	–	-0.60%	–
CL	Exit	Colgate Palmolive	$0	–	-14,950	–	-0.61%	–
HD	Exit	Home Depot Inc.	$0	–	-8,700	–	-0.61%	–
PAYX	Exit	Paychex Inc	$0	–	-20,149	–	-0.64%	–
NVS	Exit	Novartis AG ADR	$0	–	-15,020	–	-0.65%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-18,218	–	-0.66%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-12,550	–	-0.67%	–
XOM	Exit	Exxon Mobil	$0	–	-15,285	–	-0.73%	–
ABT	Exit	Abbott Laboratories	$0	–	-33,149	–	-0.77%	–
MMM	Exit	3M Company	$0	–	-8,500	–	-0.82%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-11,145	–	-0.93%	–
APC	Exit	Anadarko Petroleum	$0	–	-27,650	–	-0.96%	–
PHG	Exit	Philips	$0	–	-80,416	–	-1.30%	–
DD	Exit	DuPont	$0	–	-39,480	–	-1.45%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-174,304	–	-1.51%	–
HAL	Exit	Halliburton Co.	$0	–	-71,150	–	-1.75%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-45,262	–	-1.96%	–
WRK	Exit	Westrock Company	$0	–	-75,334	–	-2.00%	–
BGGSQ	Exit	Briggs & Stratton	$0	–	-197,475	–	-2.02%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-46,899	–	-2.02%	–
DVN	Exit	Devon Energy	$0	–	-84,268	–	-2.04%	–
VZ	Exit	Verizon Communications	$0	–	-79,081	–	-2.25%	–
VOD	Exit	Vodafone Group PLC ADR	$0	–	-141,837	–	-2.27%	–
WSM	Exit	Williams-Sonoma	$0	–	-84,550	–	-2.37%	–
GLW	Exit	Corning	$0	–	-199,025	–	-2.58%	–
BAC	Exit	Bank of America Corp.	$0	–	-313,091	–	-2.69%	–
PCAR	Exit	Paccar Inc.	$0	–	-88,123	–	-2.84%	–
PG	Exit	Procter & Gamble	$0	–	-64,982	–	-3.20%	–
DOW	Exit	Dow Chemical	$0	–	-113,600	–	-3.23%	–
INTC	Exit	Intel	$0	–	-163,029	–	-3.37%	–
CSCO	Exit	Cisco Systems	$0	–	-197,725	–	-3.44%	–
IP	Exit	International Paper	$0	–	-139,805	–	-3.68%	–
CVS	Exit	CVS Health Corporation	$0	–	-76,230	–	-3.72%	–
GE	Exit	General Electric	$0	–	-230,145	–	-3.74%	–
PFE	Exit	Pfizer Inc.	$0	–	-204,949	–	-3.81%	–
UL	Exit	Unilever PLC ADR	$0	–	-152,816	–	-3.97%	–
MRK	Exit	Merck & Co.	$0	–	-117,534	–	-4.02%	–
HON	Exit	Honeywell Int'l	$0	–	-66,533	–	-4.25%	–
MSFT	Exit	Microsoft	$0	–	-138,934	–	-4.39%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-257,632	–	-4.51%	–
JNJ	Exit	Johnson & Johnson	$0	–	-70,965	–	-4.60%	–

Q3 2016

			Value		Shares		↓ Weighting
JNJ	Sell	Johnson & Johnson	$8,383,000	-5.1%	70,965	-2.5%	4.60%	-9.7%
WY	Buy	Weyerhaeuser Co.	$8,229,000	+8.4%	257,632	+1.0%	4.51%	+3.1%
MSFT	Sell	Microsoft	$8,003,000	+11.7%	138,934	-0.8%	4.39%	+6.2%
HON	Sell	Honeywell Int'l	$7,757,000	-0.6%	66,533	-0.8%	4.25%	-5.4%
MRK	Buy	Merck & Co.	$7,335,000	+8.4%	117,534	+0.0%	4.02%	+3.1%
UL	Sell	Unilever PLC ADR	$7,243,000	-3.4%	152,816	-2.4%	3.97%	-8.1%
PFE	Buy	Pfizer Inc.	$6,942,000	-3.6%	204,949	+0.2%	3.81%	-8.3%
GE	Sell	General Electric	$6,817,000	-6.5%	230,145	-0.6%	3.74%	-11.0%
CVS	Sell	CVS Health Corporation	$6,784,000	-7.3%	76,230	-0.3%	3.72%	-11.8%
IP	Sell	International Paper	$6,708,000	+12.3%	139,805	-0.8%	3.68%	+6.8%
INTC	Buy	Intel	$6,154,000	+17.2%	163,029	+1.9%	3.37%	+11.5%
DOW	Buy	Dow Chemical	$5,888,000	+5.7%	113,600	+1.4%	3.23%	+0.5%
PG	Sell	Procter & Gamble	$5,832,000	+3.9%	64,982	-1.9%	3.20%	-1.1%
PCAR	Sell	Paccar Inc.	$5,180,000	+11.7%	88,123	-1.5%	2.84%	+6.2%
BAC	Buy	Bank of America Corp.	$4,900,000	+27.1%	313,091	+7.8%	2.69%	+20.9%
GLW	Buy	Corning	$4,707,000	+18.1%	199,025	+2.3%	2.58%	+12.4%
WSM	New	Williams-Sonoma	$4,319,000	–	84,550	–	2.37%	–
VOD	Buy	Vodafone Group PLC ADR	$4,135,000	-2.2%	141,837	+3.6%	2.27%	-7.0%
VZ	Buy	Verizon Communications	$4,111,000	-4.6%	79,081	+2.5%	2.25%	-9.2%
DVN	Buy	Devon Energy	$3,717,000	+22.2%	84,268	+0.4%	2.04%	+16.2%
SLB	Sell	Schlumberger, Ltd.	$3,688,000	-1.4%	46,899	-0.8%	2.02%	-6.2%
BGGSQ	Buy	Briggs & Stratton	$3,683,000	-1.0%	197,475	+12.5%	2.02%	-5.8%
WRK	Buy	Westrock Company	$3,652,000	+27.0%	75,334	+1.9%	2.00%	+20.8%
NSRGY	Sell	Nestle S A ADR	$3,577,000	+1.4%	45,262	-0.8%	1.96%	-3.6%
HAL	Sell	Halliburton Co.	$3,193,000	-1.8%	71,150	-0.9%	1.75%	-6.6%
MRO	Sell	Marathon Oil Corp.	$2,756,000	+4.6%	174,304	-0.7%	1.51%	-0.5%
DD	Sell	DuPont	$2,644,000	-13.6%	39,480	-16.4%	1.45%	-17.8%
PHG	Buy	Philips	$2,380,000	+26.9%	80,416	+7.0%	1.30%	+20.7%
COST	Sell	Costco Wholesale Corp.	$1,700,000	-5.0%	11,145	-2.2%	0.93%	-9.6%
MMM	Sell	3M Company	$1,498,000	-6.0%	8,500	-6.6%	0.82%	-10.7%
ABT	Sell	Abbott Laboratories	$1,402,000	+5.6%	33,149	-1.8%	0.77%	+0.4%
XOM	Sell	Exxon Mobil	$1,334,000	-7.5%	15,285	-0.6%	0.73%	-12.0%
JPM	Buy	JP Morgan Chase & Co.	$1,213,000	+30.0%	18,218	+21.3%	0.66%	+23.6%
NVS	Sell	Novartis AG ADR	$1,186,000	-44.7%	15,020	-42.2%	0.65%	-47.4%
HD	Sell	Home Depot Inc.	$1,120,000	-0.4%	8,700	-1.1%	0.61%	-5.2%
KMB	Sell	Kimberly-Clark	$1,041,000	-15.4%	8,250	-7.8%	0.57%	-19.5%
T	Sell	AT & T Corp.	$1,014,000	-9.6%	24,970	-3.9%	0.56%	-14.1%
DOV	Sell	Dover Corp	$792,000	+1.3%	10,750	-4.7%	0.43%	-3.8%
NFG	Sell	National Fuel Gas	$684,000	-10.2%	12,650	-5.6%	0.38%	-14.6%
IBM	Sell	Int'l Bus Machines	$656,000	-11.4%	4,132	-15.2%	0.36%	-15.7%
PYPL	Buy	PayPal Holdings Inc.	$597,000	+17.5%	14,575	+4.7%	0.33%	+11.6%
GIS	Sell	General Mills	$485,000	-27.6%	7,600	-19.1%	0.27%	-31.1%
SO	Sell	Southern Co.	$408,000	-13.0%	7,950	-9.1%	0.22%	-17.0%
UNP	New	Union Pacific Corp.	$215,000	–	2,200	–	0.12%	–
AMGN	New	Amgen	$200,000	–	1,200	–	0.11%	–
NXRA	Exit	Nextera Enterprises Inc.	$0	–	-30,000	–	0.00%	–
CAT	Exit	Caterpillar	$0	–	-2,700	–	-0.12%	–
ESRX	Exit	Express Scripts	$0	–	-2,845	–	-0.12%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-3,100	–	-0.13%	–
CTAS	Exit	Cintas Corp	$0	–	-2,500	–	-0.14%	–
STR	Exit	Questar Corp.	$0	–	-10,750	–	-0.16%	–

Q2 2016

			Value		Shares		↓ Weighting
JNJ	New	Johnson & Johnson	$8,829,000	–	72,785	–	5.09%	–
HON	New	Honeywell Int'l	$7,802,000	–	67,077	–	4.50%	–
WY	New	Weyerhaeuser Co.	$7,591,000	–	254,982	–	4.38%	–
UL	New	Unilever PLC ADR	$7,498,000	–	156,506	–	4.32%	–
CVS	New	CVS Health Corporation	$7,317,000	–	76,430	–	4.22%	–
GE	New	General Electric	$7,289,000	–	231,545	–	4.20%	–
PFE	New	Pfizer Inc.	$7,199,000	–	204,469	–	4.15%	–
MSFT	New	Microsoft	$7,167,000	–	140,059	–	4.13%	–
MRK	New	Merck & Co.	$6,768,000	–	117,484	–	3.90%	–
IP	New	International Paper	$5,974,000	–	140,965	–	3.44%	–
CSCO	New	Cisco Systems	$5,673,000	–	197,725	–	3.27%	–
PG	New	Procter & Gamble	$5,611,000	–	66,273	–	3.23%	–
DOW	New	Dow Chemical	$5,571,000	–	112,075	–	3.21%	–
INTC	New	Intel	$5,249,000	–	160,029	–	3.03%	–
PCAR	New	Paccar Inc.	$4,638,000	–	89,423	–	2.67%	–
VZ	New	Verizon Communications	$4,308,000	–	77,156	–	2.48%	–
VOD	New	Vodafone Group PLC ADR	$4,228,000	–	136,868	–	2.44%	–
GLW	New	Corning	$3,984,000	–	194,525	–	2.30%	–
BAC	New	Bank of America Corp.	$3,855,000	–	290,541	–	2.22%	–
SLB	New	Schlumberger, Ltd.	$3,740,000	–	47,299	–	2.16%	–
BGGSQ	New	Briggs & Stratton	$3,719,000	–	175,575	–	2.14%	–
NSRGY	New	Nestle S A ADR	$3,528,000	–	45,637	–	2.03%	–
HAL	New	Halliburton Co.	$3,253,000	–	71,820	–	1.88%	–
DD	New	DuPont	$3,061,000	–	47,230	–	1.76%	–
DVN	New	Devon Energy	$3,042,000	–	83,918	–	1.75%	–
WRK	New	Westrock Company	$2,875,000	–	73,959	–	1.66%	–
MRO	New	Marathon Oil Corp.	$2,634,000	–	175,504	–	1.52%	–
NVS	New	Novartis AG ADR	$2,145,000	–	25,994	–	1.24%	–
PHG	New	Philips	$1,875,000	–	75,175	–	1.08%	–
COST	New	Costco Wholesale Corp.	$1,789,000	–	11,395	–	1.03%	–
MMM	New	3M Company	$1,594,000	–	9,100	–	0.92%	–
APC	New	Anadarko Petroleum	$1,472,000	–	27,650	–	0.85%	–
XOM	New	Exxon Mobil	$1,442,000	–	15,385	–	0.83%	–
ABT	New	Abbott Laboratories	$1,328,000	–	33,773	–	0.77%	–
KMB	New	Kimberly-Clark	$1,230,000	–	8,950	–	0.71%	–
PAYX	New	Paychex Inc	$1,199,000	–	20,149	–	0.69%	–
HD	New	Home Depot Inc.	$1,124,000	–	8,800	–	0.65%	–
T	New	AT & T Corp.	$1,122,000	–	25,970	–	0.65%	–
CVX	New	Chevron Corp.	$1,106,000	–	10,550	–	0.64%	–
CL	New	Colgate Palmolive	$1,094,000	–	14,950	–	0.63%	–
EOG	New	EOG Resources, Inc.	$1,047,000	–	12,550	–	0.60%	–
ABBV	New	AbbVie Inc.	$938,000	–	15,150	–	0.54%	–
JPM	New	JP Morgan Chase & Co.	$933,000	–	15,018	–	0.54%	–
DOV	New	Dover Corp	$782,000	–	11,275	–	0.45%	–
NFG	New	National Fuel Gas	$762,000	–	13,400	–	0.44%	–
IBM	New	Int'l Bus Machines	$740,000	–	4,874	–	0.43%	–
GIS	New	General Mills	$670,000	–	9,400	–	0.39%	–
BCR	New	C R Bard Inc.	$553,000	–	2,350	–	0.32%	–
AVB	New	AvalonBay Communities	$546,000	–	3,027	–	0.32%	–
FDX	New	Fedex Corp.	$516,000	–	3,400	–	0.30%	–
PYPL	New	PayPal Holdings Inc.	$508,000	–	13,925	–	0.29%	–
LLY	New	Lilly, Eli	$478,000	–	6,067	–	0.28%	–
SYK	New	Stryker	$473,000	–	3,950	–	0.27%	–
SO	New	Southern Co.	$469,000	–	8,750	–	0.27%	–
ADI	New	Analog Devices	$338,000	–	5,970	–	0.20%	–
DUK	New	Duke Energy Corp.	$309,000	–	3,602	–	0.18%	–
WFC	New	Wells Fargo Co.	$289,000	–	6,110	–	0.17%	–
UTX	New	United Technologies	$277,000	–	2,705	–	0.16%	–
STR	New	Questar Corp.	$273,000	–	10,750	–	0.16%	–
GSK	New	Glaxo Smithkline PLC-Spon ADR	$254,000	–	5,850	–	0.15%	–
SYY	New	Sysco	$254,000	–	5,000	–	0.15%	–
ADP	New	Automatic Data Proc	$248,000	–	2,700	–	0.14%	–
CTAS	New	Cintas Corp	$245,000	–	2,500	–	0.14%	–
BMY	New	Bristol Myers Squibb	$228,000	–	3,100	–	0.13%	–
ESRX	New	Express Scripts	$216,000	–	2,845	–	0.12%	–
CAT	New	Caterpillar	$205,000	–	2,700	–	0.12%	–
NXRA	New	Nextera Enterprises Inc.	$0	–	30,000	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
NXRA	Exit	Nextera Enterprises Inc.	$0	–	-30,000	–	0.00%	–
CC	Exit	Chemours Co.	$0	–	-16,477	–	-0.06%	–
ESRX	Exit	Express Scripts	$0	–	-2,845	–	-0.14%	–
DUK	Exit	Duke Energy Corp.	$0	–	-3,293	–	-0.14%	–
WFC	Exit	Wells Fargo Co.	$0	–	-4,660	–	-0.14%	–
SYY	Exit	Sysco	$0	–	-6,333	–	-0.14%	–
CTAS	Exit	Cintas Corp	$0	–	-3,000	–	-0.15%	–
ADP	Exit	Automatic Data Proc	$0	–	-4,300	–	-0.20%	–
ADI	Exit	Analog Devices	$0	–	-6,270	–	-0.21%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-6,730	–	-0.21%	–
SYK	Exit	Stryker	$0	–	-3,950	–	-0.22%	–
SO	Exit	Southern Co.	$0	–	-9,050	–	-0.24%	–
STR	Exit	Questar Corp.	$0	–	-20,900	–	-0.24%	–
FDX	Exit	Fedex Corp.	$0	–	-3,450	–	-0.29%	–
BCR	Exit	C R Bard Inc.	$0	–	-2,750	–	-0.30%	–
DOV	Exit	Dover Corp	$0	–	-9,095	–	-0.30%	–
AVB	Exit	AvalonBay Communities	$0	–	-3,027	–	-0.31%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-9,118	–	-0.33%	–
LLY	Exit	Lilly, Eli	$0	–	-7,150	–	-0.35%	–
GIS	Exit	General Mills	$0	–	-11,200	–	-0.37%	–
NFG	Exit	National Fuel Gas	$0	–	-13,400	–	-0.39%	–
IBM	Exit	Int'l Bus Machines	$0	–	-4,874	–	-0.42%	–
T	Exit	AT & T Corp.	$0	–	-25,595	–	-0.49%	–
CVX	Exit	Chevron Corp.	$0	–	-11,250	–	-0.52%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-12,750	–	-0.54%	–
CL	Exit	Colgate Palmolive	$0	–	-15,150	–	-0.56%	–
PAYX	Exit	Paychex Inc	$0	–	-20,149	–	-0.56%	–
KMB	Exit	Kimberly-Clark	$0	–	-9,100	–	-0.58%	–
HD	Exit	Home Depot Inc.	$0	–	-8,800	–	-0.60%	–
XOM	Exit	Exxon Mobil	$0	–	-16,685	–	-0.73%	–
APC	Exit	Anadarko Petroleum	$0	–	-22,950	–	-0.81%	–
MMM	Exit	3M Company	$0	–	-9,850	–	-0.82%	–
ABT	Exit	Abbott Laboratories	$0	–	-37,823	–	-0.89%	–
PHG	Exit	Philips	$0	–	-69,333	–	-0.96%	–
PCL	Exit	Plum Creek Timber	$0	–	-41,525	–	-0.96%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-11,520	–	-0.98%	–
ABBV	Exit	AbbVie Inc.	$0	–	-32,675	–	-1.04%	–
WRK	Exit	Westrock Company	$0	–	-35,684	–	-1.08%	–
HAL	Exit	Halliburton Co.	$0	–	-59,900	–	-1.24%	–
GLW	Exit	Corning	$0	–	-134,100	–	-1.35%	–
DVN	Exit	Devon Energy	$0	–	-70,341	–	-1.53%	–
VZ	Exit	Verizon Communications	$0	–	-73,827	–	-1.89%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-44,962	–	-1.99%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-49,263	–	-2.00%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-223,949	–	-2.02%	–
UTX	Exit	United Technologies	$0	–	-38,876	–	-2.03%	–
BGGSQ	Exit	Briggs & Stratton	$0	–	-186,150	–	-2.11%	–
VOD	Exit	Vodafone Group PLC ADR	$0	–	-128,293	–	-2.39%	–
EMC	Exit	EMC Corp.	$0	–	-171,783	–	-2.44%	–
GSK	Exit	Glaxo Smithkline PLC-Spon ADR	$0	–	-109,100	–	-2.46%	–
PCAR	Exit	Paccar Inc.	$0	–	-93,148	–	-2.85%	–
DD	Exit	DuPont	$0	–	-100,862	–	-2.86%	–
DOW	Exit	Dow Chemical	$0	–	-116,025	–	-2.89%	–
PG	Exit	Procter & Gamble	$0	–	-69,109	–	-2.92%	–
INTC	Exit	Intel	$0	–	-165,078	–	-2.92%	–
CSCO	Exit	Cisco Systems	$0	–	-193,750	–	-2.99%	–
IP	Exit	International Paper	$0	–	-134,724	–	-2.99%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-214,007	–	-3.44%	–
MRK	Exit	Merck & Co.	$0	–	-118,579	–	-3.44%	–
GE	Exit	General Electric	$0	–	-240,783	–	-3.57%	–
MSFT	Exit	Microsoft	$0	–	-142,294	–	-3.70%	–
PFE	Exit	Pfizer Inc.	$0	–	-209,594	–	-3.87%	–
UL	Exit	Unilever PLC ADR	$0	–	-164,924	–	-3.95%	–
HON	Exit	Honeywell Int'l	$0	–	-71,657	–	-3.98%	–
JNJ	Exit	Johnson & Johnson	$0	–	-74,375	–	-4.08%	–
NVS	Exit	Novartis AG ADR	$0	–	-76,213	–	-4.11%	–
CVS	Exit	CVS Health Corporation	$0	–	-83,100	–	-4.71%	–

Q3 2015

			Value		Shares		↓ Weighting
CVS	Sell	CVS Health Corporation	$8,017,000	-25.6%	83,100	-19.1%	4.71%	-15.7%
NVS	Sell	Novartis AG ADR	$7,005,000	-10.7%	76,213	-4.5%	4.11%	+1.2%
JNJ	Sell	Johnson & Johnson	$6,943,000	-8.1%	74,375	-4.1%	4.08%	+4.1%
HON	Sell	Honeywell Int'l	$6,785,000	-7.9%	71,657	-0.8%	3.98%	+4.3%
UL	Sell	Unilever PLC ADR	$6,726,000	-9.6%	164,924	-4.8%	3.95%	+2.4%
PFE	Sell	Pfizer Inc.	$6,583,000	-9.3%	209,594	-3.2%	3.87%	+2.8%
MSFT	Sell	Microsoft	$6,298,000	-5.1%	142,294	-5.3%	3.70%	+7.6%
GE	Sell	General Electric	$6,073,000	-7.9%	240,783	-3.0%	3.57%	+4.3%
MRK	Sell	Merck & Co.	$5,857,000	-14.7%	118,579	-1.7%	3.44%	-3.4%
WY	Sell	Weyerhaeuser Co.	$5,851,000	-15.7%	214,007	-2.9%	3.44%	-4.5%
IP	Sell	International Paper	$5,091,000	-21.4%	134,724	-1.0%	2.99%	-10.9%
CSCO	Sell	Cisco Systems	$5,086,000	-8.0%	193,750	-3.8%	2.99%	+4.2%
INTC	Sell	Intel	$4,975,000	-5.3%	165,078	-4.4%	2.92%	+7.3%
PG	Sell	Procter & Gamble	$4,972,000	-10.8%	69,109	-2.9%	2.92%	+1.1%
DOW	Sell	Dow Chemical	$4,919,000	-21.0%	116,025	-4.6%	2.89%	-10.4%
DD	Buy	DuPont	$4,862,000	-24.0%	100,862	+0.9%	2.86%	-13.9%
PCAR	Buy	Paccar Inc.	$4,860,000	-17.8%	93,148	+0.5%	2.85%	-6.9%
GSK	Sell	Glaxo Smithkline PLC-Spon ADR	$4,195,000	-9.2%	109,100	-1.7%	2.46%	+2.8%
EMC	Sell	EMC Corp.	$4,150,000	-9.8%	171,783	-1.4%	2.44%	+2.3%
VOD	Buy	Vodafone Group PLC ADR	$4,072,000	-11.5%	128,293	+1.6%	2.39%	+0.3%
BGGSQ	Sell	Briggs & Stratton	$3,595,000	-1.2%	186,150	-1.5%	2.11%	+12.0%
UTX	Sell	United Technologies	$3,460,000	-21.3%	38,876	-1.9%	2.03%	-10.8%
MRO	Buy	Marathon Oil Corp.	$3,449,000	-20.7%	223,949	+36.7%	2.02%	-10.1%
SLB	Sell	Schlumberger, Ltd.	$3,398,000	-29.9%	49,263	-12.4%	2.00%	-20.6%
NSRGY	Sell	Nestle S A ADR	$3,383,000	-4.4%	44,962	-8.3%	1.99%	+8.4%
VZ	Sell	Verizon Communications	$3,212,000	-9.0%	73,827	-2.6%	1.89%	+3.1%
DVN	Sell	Devon Energy	$2,609,000	-45.7%	70,341	-12.9%	1.53%	-38.5%
GLW	New	Corning	$2,296,000	–	134,100	–	1.35%	–
HAL	Sell	Halliburton Co.	$2,117,000	-34.6%	59,900	-20.2%	1.24%	-25.8%
WRK	New	Westrock Company	$1,836,000	–	35,684	–	1.08%	–
ABBV	Sell	AbbVie Inc.	$1,778,000	-22.2%	32,675	-3.9%	1.04%	-11.8%
PCL	Sell	Plum Creek Timber	$1,641,000	-7.6%	41,525	-5.1%	0.96%	+4.8%
PHG	Buy	Philips	$1,627,000	-7.5%	69,333	+0.4%	0.96%	+4.8%
ABT	Sell	Abbott Laboratories	$1,521,000	-23.3%	37,823	-6.4%	0.89%	-13.1%
APC	Sell	Anadarko Petroleum	$1,386,000	-24.8%	22,950	-2.8%	0.81%	-14.8%
XOM	Buy	Exxon Mobil	$1,241,000	+25.6%	16,685	+40.5%	0.73%	+42.4%
PAYX	Sell	Paychex Inc	$960,000	-0.3%	20,149	-1.9%	0.56%	+13.0%
CVX	Buy	Chevron Corp.	$887,000	+26.9%	11,250	+55.2%	0.52%	+43.9%
T	Sell	AT & T Corp.	$834,000	-13.7%	25,595	-5.9%	0.49%	-2.2%
JPM	Sell	JP Morgan Chase & Co.	$556,000	-12.9%	9,118	-3.2%	0.33%	-1.2%
DOV	Sell	Dover Corp	$520,000	-20.7%	9,095	-2.7%	0.30%	-10.3%
BCR	New	C R Bard Inc.	$512,000	–	2,750	–	0.30%	–
FDX	Buy	Fedex Corp.	$497,000	-1.2%	3,450	+16.9%	0.29%	+11.9%
QCOM	Sell	Qualcomm Inc.	$362,000	-17.2%	6,730	-3.6%	0.21%	-5.8%
CC	New	Chemours Co.	$107,000	–	16,477	–	0.06%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-4,943	–	-0.11%	–
ABB	Exit	ABB AB Spons ADR	$0	–	-9,950	–	-0.11%	–
UNP	Exit	Union Pacific Corp.	$0	–	-2,200	–	-0.11%	–
LCNTU	Exit	LA Cent Oil&Gas Co.	$0	–	-225	–	-0.12%	–
CAT	Exit	Caterpillar	$0	–	-2,700	–	-0.12%	–

Q2 2015

			Value		Shares		↓ Weighting
CVS	New	CVS Health Corporation	$10,772,000	–	102,705	–	5.58%	–
NVS	New	Novartis AG ADR	$7,844,000	–	79,765	–	4.06%	–
JNJ	New	Johnson & Johnson	$7,556,000	–	77,525	–	3.92%	–
UL	New	Unilever PLC ADR	$7,444,000	–	173,266	–	3.86%	–
HON	New	Honeywell Int'l	$7,368,000	–	72,259	–	3.82%	–
PFE	New	Pfizer Inc.	$7,260,000	–	216,526	–	3.76%	–
WY	New	Weyerhaeuser Co.	$6,944,000	–	220,457	–	3.60%	–
MRK	New	Merck & Co.	$6,869,000	–	120,654	–	3.56%	–
MSFT	New	Microsoft	$6,633,000	–	150,246	–	3.44%	–
GE	New	General Electric	$6,596,000	–	248,233	–	3.42%	–
IP	New	International Paper	$6,477,000	–	136,095	–	3.36%	–
DD	New	DuPont	$6,394,000	–	99,989	–	3.31%	–
DOW	New	Dow Chemical	$6,224,000	–	121,625	–	3.22%	–
PCAR	New	Paccar Inc.	$5,914,000	–	92,675	–	3.06%	–
PG	New	Procter & Gamble	$5,571,000	–	71,206	–	2.89%	–
CSCO	New	Cisco Systems	$5,531,000	–	201,425	–	2.87%	–
INTC	New	Intel	$5,254,000	–	172,730	–	2.72%	–
SLB	New	Schlumberger, Ltd.	$4,849,000	–	56,263	–	2.51%	–
DVN	New	Devon Energy	$4,806,000	–	80,794	–	2.49%	–
GSK	New	Glaxo Smithkline PLC-Spon ADR	$4,622,000	–	110,970	–	2.40%	–
VOD	New	Vodafone Group PLC ADR	$4,602,000	–	126,257	–	2.38%	–
EMC	New	EMC Corp.	$4,599,000	–	174,260	–	2.38%	–
UTX	New	United Technologies	$4,396,000	–	39,626	–	2.28%	–
MRO	New	Marathon Oil Corp.	$4,347,000	–	163,775	–	2.25%	–
BGGSQ	New	Briggs & Stratton	$3,638,000	–	188,900	–	1.88%	–
NSRGY	New	Nestle S A ADR	$3,537,000	–	49,012	–	1.83%	–
VZ	New	Verizon Communications	$3,531,000	–	75,761	–	1.83%	–
HAL	New	Halliburton Co.	$3,235,000	–	75,100	–	1.68%	–
ABBV	New	AbbVie Inc.	$2,284,000	–	34,000	–	1.18%	–
ABT	New	Abbott Laboratories	$1,983,000	–	40,400	–	1.03%	–
APC	New	Anadarko Petroleum	$1,842,000	–	23,600	–	0.96%	–
PCL	New	Plum Creek Timber	$1,776,000	–	43,775	–	0.92%	–
PHG	New	Philips	$1,758,000	–	69,033	–	0.91%	–
COST	New	Costco Wholesale Corp.	$1,556,000	–	11,520	–	0.81%	–
MMM	New	3M Company	$1,520,000	–	9,850	–	0.79%	–
EOG	New	EOG Resources, Inc.	$1,116,000	–	12,750	–	0.58%	–
CL	New	Colgate Palmolive	$991,000	–	15,150	–	0.51%	–
XOM	New	Exxon Mobil	$988,000	–	11,875	–	0.51%	–
HD	New	Home Depot Inc.	$978,000	–	8,800	–	0.51%	–
T	New	AT & T Corp.	$966,000	–	27,196	–	0.50%	–
KMB	New	Kimberly-Clark	$964,000	–	9,100	–	0.50%	–
PAYX	New	Paychex Inc	$963,000	–	20,549	–	0.50%	–
IBM	New	Int'l Bus Machines	$793,000	–	4,874	–	0.41%	–
NFG	New	National Fuel Gas	$789,000	–	13,400	–	0.41%	–
CVX	New	Chevron Corp.	$699,000	–	7,250	–	0.36%	–
DOV	New	Dover Corp	$656,000	–	9,345	–	0.34%	–
JPM	New	JP Morgan Chase & Co.	$638,000	–	9,418	–	0.33%	–
GIS	New	General Mills	$624,000	–	11,200	–	0.32%	–
LLY	New	Lilly, Eli	$597,000	–	7,150	–	0.31%	–
FDX	New	Fedex Corp.	$503,000	–	2,950	–	0.26%	–
AVB	New	AvalonBay Communities	$484,000	–	3,027	–	0.25%	–
STR	New	Questar Corp.	$437,000	–	20,900	–	0.23%	–
QCOM	New	Qualcomm Inc.	$437,000	–	6,980	–	0.23%	–
ADI	New	Analog Devices	$402,000	–	6,270	–	0.21%	–
SO	New	Southern Co.	$379,000	–	9,050	–	0.20%	–
SYK	New	Stryker	$378,000	–	3,950	–	0.20%	–
ADP	New	Automatic Data Proc	$345,000	–	4,300	–	0.18%	–
WFC	New	Wells Fargo Co.	$262,000	–	4,660	–	0.14%	–
CTAS	New	Cintas Corp	$254,000	–	3,000	–	0.13%	–
ESRX	New	Express Scripts	$253,000	–	2,845	–	0.13%	–
DUK	New	Duke Energy Corp.	$233,000	–	3,293	–	0.12%	–
CAT	New	Caterpillar	$229,000	–	2,700	–	0.12%	–
SYY	New	Sysco	$229,000	–	6,333	–	0.12%	–
LCNTU	New	LA Cent Oil&Gas Co.	$222,000	–	225	–	0.12%	–
UNP	New	Union Pacific Corp.	$210,000	–	2,200	–	0.11%	–
ABB	New	ABB AB Spons ADR	$208,000	–	9,950	–	0.11%	–
BK	New	Bank New York Mellon Corp.	$207,000	–	4,943	–	0.11%	–
NXRA	New	Nextera Enterprises Inc.	$0	–	30,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
MTCI	Exit	Management Technologies Inc.	$0	–	-50,000	–	0.00%	–
NXRA	Exit	Nextera Enterprises Inc.	$0	–	-30,000	–	0.00%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-5,226	–	-0.09%	–
ESRX	Exit	Express Scripts	$0	–	-2,922	–	-0.10%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-2,980	–	-0.10%	–
CTAS	Exit	Cintas Corp	$0	–	-3,350	–	-0.11%	–
SYY	Exit	Sysco	$0	–	-6,333	–	-0.11%	–
WFC	Exit	Wells Fargo Co.	$0	–	-4,660	–	-0.11%	–
DUK	Exit	Duke Energy Corp.	$0	–	-3,293	–	-0.12%	–
KO	Exit	Coca-Cola Co.	$0	–	-5,826	–	-0.12%	–
CAT	Exit	Caterpillar	$0	–	-2,700	–	-0.12%	–
SYK	Exit	Stryker	$0	–	-3,950	–	-0.15%	–
ADP	Exit	Automatic Data Proc	$0	–	-4,300	–	-0.17%	–
SO	Exit	Southern Co.	$0	–	-9,050	–	-0.18%	–
ADI	Exit	Analog Devices	$0	–	-8,150	–	-0.19%	–
UNP	Exit	Union Pacific Corp.	$0	–	-3,800	–	-0.19%	–
AVB	Exit	AvalonBay Communities	$0	–	-3,027	–	-0.20%	–
LLY	Exit	Lilly, Eli	$0	–	-7,150	–	-0.22%	–
FDX	Exit	Fedex Corp.	$0	–	-2,950	–	-0.22%	–
STR	Exit	Questar Corp.	$0	–	-21,700	–	-0.23%	–
LCNTU	Exit	LA Cent Oil&Gas Co.	$0	–	-225	–	-0.26%	–
GIS	Exit	General Mills	$0	–	-11,200	–	-0.26%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-9,468	–	-0.27%	–
DOV	Exit	Dover Corp	$0	–	-7,645	–	-0.29%	–
T	Exit	AT & T Corp.	$0	–	-23,683	–	-0.39%	–
HD	Exit	Home Depot Inc.	$0	–	-9,350	–	-0.40%	–
CVX	Exit	Chevron Corp.	$0	–	-7,250	–	-0.40%	–
PAYX	Exit	Paychex Inc	$0	–	-20,449	–	-0.42%	–
IBM	Exit	Int'l Bus Machines	$0	–	-4,874	–	-0.43%	–
KMB	Exit	Kimberly-Clark	$0	–	-9,100	–	-0.46%	–
PCL	Exit	Plum Creek Timber	$0	–	-25,325	–	-0.46%	–
CL	Exit	Colgate Palmolive	$0	–	-15,150	–	-0.46%	–
NFG	Exit	National Fuel Gas	$0	–	-14,800	–	-0.48%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-13,550	–	-0.62%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-11,770	–	-0.69%	–
MMM	Exit	3M Company	$0	–	-10,850	–	-0.72%	–
XOM	Exit	Exxon Mobil	$0	–	-16,370	–	-0.72%	–
COP	Exit	Conocophillips	$0	–	-25,385	–	-0.90%	–
ABT	Exit	Abbott Laboratories	$0	–	-53,925	–	-1.04%	–
ABBV	Exit	AbbVie Inc.	$0	–	-44,350	–	-1.19%	–
PHG	Exit	Philips	$0	–	-92,241	–	-1.36%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-48,237	–	-1.66%	–
UTX	Exit	United Technologies	$0	–	-36,836	–	-1.81%	–
APC	Exit	Anadarko Petroleum	$0	–	-39,825	–	-1.88%	–
VOD	Exit	Vodafone Group PLC ADR	$0	–	-123,135	–	-1.89%	–
HAL	Exit	Halliburton Co.	$0	–	-66,650	–	-2.00%	–
VZ	Exit	Verizon Communications	$0	–	-86,193	–	-2.01%	–
ABB	Exit	ABB AB Spons ADR	$0	–	-194,925	–	-2.04%	–
OXY	Exit	Occidental Petroleum	$0	–	-49,650	–	-2.22%	–
EMC	Exit	EMC Corp.	$0	–	-176,860	–	-2.41%	–
CSCO	Exit	Cisco Systems	$0	–	-212,250	–	-2.49%	–
PCAR	Exit	Paccar Inc.	$0	–	-94,987	–	-2.52%	–
GSK	Exit	Glaxo Smithkline PLC-Spon ADR	$0	–	-120,520	–	-2.58%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-56,763	–	-2.69%	–
DVN	Exit	Devon Energy	$0	–	-88,244	–	-2.80%	–
INTC	Exit	Intel	$0	–	-179,995	–	-2.92%	–
PG	Exit	Procter & Gamble	$0	–	-76,218	–	-2.98%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-175,775	–	-3.08%	–
DOW	Exit	Dow Chemical	$0	–	-126,225	–	-3.08%	–
GE	Exit	General Electric	$0	–	-258,433	–	-3.09%	–
PFE	Exit	Pfizer Inc.	$0	–	-226,001	–	-3.12%	–
IP	Exit	International Paper	$0	–	-142,270	–	-3.17%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-226,532	–	-3.36%	–
MSFT	Exit	Microsoft	$0	–	-156,971	–	-3.39%	–
HON	Exit	Honeywell Int'l	$0	–	-78,234	–	-3.40%	–
MRK	Exit	Merck & Co.	$0	–	-123,079	–	-3.40%	–
UL	Exit	Unilever PLC ADR	$0	–	-178,526	–	-3.49%	–
DD	Exit	DuPont	$0	–	-105,429	–	-3.53%	–
NVS	Exit	Novartis AG ADR	$0	–	-83,665	–	-3.67%	–
JNJ	Exit	Johnson & Johnson	$0	–	-81,400	–	-4.04%	–
CVS	Exit	CVS Health Corporation	$0	–	-116,654	–	-4.33%	–

Q3 2014

			Value		Shares		↓ Weighting
CVS	Sell	CVS Health Corporation	$9,284,000	+1.4%	116,654	-4.0%	4.33%	+6.6%
JNJ	Sell	Johnson & Johnson	$8,676,000	+1.0%	81,400	-0.8%	4.04%	+6.2%
NVS	Sell	Novartis AG ADR	$7,875,000	-3.2%	83,665	-6.9%	3.67%	+1.7%
DD	Buy	DuPont	$7,566,000	+9.9%	105,429	+0.2%	3.53%	+15.5%
UL	Sell	Unilever PLC ADR	$7,480,000	-7.7%	178,526	-0.2%	3.49%	-3.0%
MRK	Sell	Merck & Co.	$7,296,000	+0.3%	123,079	-2.1%	3.40%	+5.4%
HON	Sell	Honeywell Int'l	$7,285,000	-1.1%	78,234	-1.3%	3.40%	+3.9%
MSFT	Sell	Microsoft	$7,277,000	+9.3%	156,971	-1.7%	3.39%	+14.9%
WY	Sell	Weyerhaeuser Co.	$7,217,000	-5.0%	226,532	-1.3%	3.36%	-0.1%
IP	Buy	International Paper	$6,792,000	-0.3%	142,270	+5.4%	3.17%	+4.8%
PFE	Buy	Pfizer Inc.	$6,683,000	+1.3%	226,001	+1.7%	3.12%	+6.5%
GE	Buy	General Electric	$6,621,000	-1.3%	258,433	+1.2%	3.09%	+3.7%
DOW	Sell	Dow Chemical	$6,619,000	-2.4%	126,225	-4.2%	3.08%	+2.6%
MRO	Sell	Marathon Oil Corp.	$6,607,000	-6.3%	175,775	-0.4%	3.08%	-1.5%
PG	Sell	Procter & Gamble	$6,382,000	+5.6%	76,218	-0.9%	2.98%	+11.0%
INTC	Sell	Intel	$6,267,000	+8.6%	179,995	-3.6%	2.92%	+14.1%
DVN	Sell	Devon Energy	$6,016,000	-16.1%	88,244	-2.3%	2.80%	-11.8%
SLB	Sell	Schlumberger, Ltd.	$5,772,000	-18.3%	56,763	-5.3%	2.69%	-14.2%
GSK	Buy	Glaxo Smithkline PLC-Spon ADR	$5,540,000	-9.4%	120,520	+5.4%	2.58%	-4.8%
PCAR	Sell	Paccar Inc.	$5,402,000	-10.4%	94,987	-1.0%	2.52%	-5.8%
CSCO	Sell	Cisco Systems	$5,342,000	+0.4%	212,250	-0.9%	2.49%	+5.5%
EMC	Sell	EMC Corp.	$5,175,000	+9.7%	176,860	-1.2%	2.41%	+15.3%
OXY	Buy	Occidental Petroleum	$4,774,000	-6.2%	49,650	+0.1%	2.22%	-1.4%
ABB	Buy	ABB AB Spons ADR	$4,368,000	-1.9%	194,925	+0.7%	2.04%	+3.1%
VZ	Buy	Verizon Communications	$4,309,000	+4.1%	86,193	+1.8%	2.01%	+9.4%
HAL	Sell	Halliburton Co.	$4,300,000	-14.8%	66,650	-6.2%	2.00%	-10.4%
VOD	Buy	Vodafone Group PLC ADR	$4,050,000	+19.2%	123,135	+21.0%	1.89%	+25.4%
APC	Sell	Anadarko Petroleum	$4,040,000	-18.8%	39,825	-12.3%	1.88%	-14.6%
UTX	Buy	United Technologies	$3,890,000	-8.2%	36,836	+0.4%	1.81%	-3.5%
NSRGY	Sell	Nestle S A ADR	$3,552,000	-5.6%	48,237	-0.4%	1.66%	-0.7%
PHG	Buy	Philips	$2,925,000	+2.4%	92,241	+2.5%	1.36%	+7.6%
ABBV	Sell	AbbVie Inc.	$2,562,000	-2.5%	44,350	-4.7%	1.19%	+2.5%
ABT	Sell	Abbott Laboratories	$2,243,000	-1.6%	53,925	-3.2%	1.04%	+3.4%
COP	Sell	Conocophillips	$1,942,000	-12.5%	25,385	-2.0%	0.90%	-8.0%
XOM	Buy	Exxon Mobil	$1,539,000	+7.7%	16,370	+15.3%	0.72%	+13.1%
COST	Sell	Costco Wholesale Corp.	$1,475,000	+6.8%	11,770	-1.9%	0.69%	+12.3%
EOG	Sell	EOG Resources, Inc.	$1,342,000	-18.3%	13,550	-3.6%	0.62%	-14.1%
CL	Sell	Colgate Palmolive	$988,000	-12.5%	15,150	-8.5%	0.46%	-8.2%
PCL	Sell	Plum Creek Timber	$988,000	-47.3%	25,325	-39.0%	0.46%	-44.6%
KMB	Buy	Kimberly-Clark	$979,000	-2.8%	9,100	+0.6%	0.46%	+2.0%
CVX	Sell	Chevron Corp.	$865,000	-9.4%	7,250	-0.9%	0.40%	-5.0%
T	Buy	AT & T Corp.	$835,000	+4.5%	23,683	+4.9%	0.39%	+9.9%
DOV	Buy	Dover Corp	$614,000	-11.4%	7,645	+0.3%	0.29%	-6.8%
STR	Buy	Questar Corp.	$484,000	-8.5%	21,700	+1.6%	0.23%	-3.8%
ADI	Sell	Analog Devices	$403,000	-16.7%	8,150	-8.9%	0.19%	-12.6%
SO	Sell	Southern Co.	$395,000	-16.0%	9,050	-12.6%	0.18%	-11.5%
SYK	Sell	Stryker	$319,000	-19.4%	3,950	-16.0%	0.15%	-15.3%
CTAS	Sell	Cintas Corp	$236,000	+0.4%	3,350	-9.5%	0.11%	+5.8%
QCOM	New	Qualcomm Inc.	$223,000	–	2,980	–	0.10%	–
BK	New	Bank New York Mellon Corp.	$202,000	–	5,226	–	0.09%	–
RDSA	Exit	Royal Dutch Shell PLC ADR A	$0	–	-2,433	–	-0.09%	–
NEM	Exit	Newmont Mining Corp.	$0	–	-16,025	–	-0.18%	–
DBD	Exit	Diebold Inc.	$0	–	-110,575	–	-1.97%	–

Q2 2014

			Value		Shares		↓ Weighting
CVS	New	CVS/Caremark Corp.	$9,158,000	–	121,504	–	4.06%	–
JNJ	New	Johnson & Johnson	$8,586,000	–	82,065	–	3.81%	–
NVS	New	Novartis AG ADR	$8,134,000	–	89,845	–	3.61%	–
UL	New	Unilever PLC ADR	$8,107,000	–	178,926	–	3.60%	–
WY	New	Weyerhaeuser Co.	$7,597,000	–	229,582	–	3.37%	–
HON	New	Honeywell Int'l	$7,367,000	–	79,254	–	3.27%	–
MRK	New	Merck & Co.	$7,275,000	–	125,759	–	3.23%	–
DVN	New	Devon Energy	$7,170,000	–	90,308	–	3.18%	–
SLB	New	Schlumberger, Ltd.	$7,069,000	–	59,933	–	3.14%	–
MRO	New	Marathon Oil Corp.	$7,048,000	–	176,550	–	3.12%	–
DD	New	DuPont	$6,884,000	–	105,199	–	3.05%	–
IP	New	International Paper	$6,815,000	–	135,030	–	3.02%	–
DOW	New	Dow Chemical	$6,784,000	–	131,825	–	3.01%	–
GE	New	General Electric	$6,709,000	–	255,308	–	2.98%	–
MSFT	New	Microsoft	$6,657,000	–	159,646	–	2.95%	–
PFE	New	Pfizer Inc.	$6,597,000	–	222,271	–	2.92%	–
GSK	New	Glaxo Smithkline PLC-Spon ADR	$6,117,000	–	114,380	–	2.71%	–
PG	New	Procter & Gamble	$6,042,000	–	76,885	–	2.68%	–
PCAR	New	Paccar Inc.	$6,026,000	–	95,912	–	2.67%	–
INTC	New	Intel	$5,770,000	–	186,720	–	2.56%	–
CSCO	New	Cisco Systems	$5,322,000	–	214,175	–	2.36%	–
OXY	New	Occidental Petroleum	$5,090,000	–	49,600	–	2.26%	–
HAL	New	Halliburton Co.	$5,045,000	–	71,050	–	2.24%	–
APC	New	Anadarko Petroleum	$4,973,000	–	45,425	–	2.20%	–
EMC	New	EMC Corp.	$4,717,000	–	179,085	–	2.09%	–
ABB	New	ABB AB Spons ADR	$4,454,000	–	193,475	–	1.98%	–
DBD	New	Diebold Inc.	$4,442,000	–	110,575	–	1.97%	–
UTX	New	United Technologies	$4,236,000	–	36,691	–	1.88%	–
VZ	New	Verizon Communications	$4,141,000	–	84,634	–	1.84%	–
NSRGY	New	Nestle S A ADR	$3,762,000	–	48,437	–	1.67%	–
VOD	New	Vodafone Group PLC ADR	$3,397,000	–	101,749	–	1.51%	–
PHG	New	Philips	$2,857,000	–	89,966	–	1.27%	–
ABBV	New	AbbVie Inc.	$2,627,000	–	46,550	–	1.16%	–
ABT	New	Abbott Laboratories	$2,279,000	–	55,725	–	1.01%	–
COP	New	Conocophillips	$2,220,000	–	25,897	–	0.98%	–
PCL	New	Plum Creek Timber	$1,873,000	–	41,525	–	0.83%	–
EOG	New	EOG Resources, Inc.	$1,642,000	–	14,050	–	0.73%	–
MMM	New	3M Company	$1,554,000	–	10,850	–	0.69%	–
XOM	New	Exxon Mobil	$1,429,000	–	14,195	–	0.63%	–
COST	New	Costco Wholesale Corp.	$1,381,000	–	11,995	–	0.61%	–
NFG	New	National Fuel Gas	$1,159,000	–	14,800	–	0.51%	–
CL	New	Colgate Palmolive	$1,129,000	–	16,556	–	0.50%	–
KMB	New	Kimberly-Clark	$1,007,000	–	9,050	–	0.45%	–
CVX	New	Chevron Corp.	$955,000	–	7,315	–	0.42%	–
IBM	New	Int'l Bus Machines	$884,000	–	4,874	–	0.39%	–
PAYX	New	Paychex Inc	$850,000	–	20,449	–	0.38%	–
T	New	AT & T Corp.	$799,000	–	22,583	–	0.35%	–
HD	New	Home Depot Inc.	$757,000	–	9,350	–	0.34%	–
DOV	New	Dover Corp	$693,000	–	7,620	–	0.31%	–
GIS	New	General Mills	$588,000	–	11,200	–	0.26%	–
LCNTU	New	LA Cent Oil&Gas Co.	$551,000	–	225	–	0.24%	–
JPM	New	JP Morgan Chase & Co.	$542,000	–	9,468	–	0.24%	–
STR	New	Questar Corp.	$529,000	–	21,350	–	0.24%	–
ADI	New	Analog Devices	$484,000	–	8,950	–	0.22%	–
SO	New	Southern Co.	$470,000	–	10,350	–	0.21%	–
FDX	New	Fedex Corp.	$447,000	–	2,950	–	0.20%	–
LLY	New	Lilly, Eli	$445,000	–	7,150	–	0.20%	–
AVB	New	AvalonBay Communities	$430,000	–	3,027	–	0.19%	–
NEM	New	Newmont Mining Corp.	$408,000	–	16,025	–	0.18%	–
SYK	New	Stryker	$396,000	–	4,700	–	0.18%	–
UNP	New	Union Pacific Corp.	$379,000	–	3,800	–	0.17%	–
ADP	New	Automatic Data Proc	$341,000	–	4,300	–	0.15%	–
CAT	New	Caterpillar	$293,000	–	2,700	–	0.13%	–
KO	New	Coca-Cola Co.	$247,000	–	5,826	–	0.11%	–
WFC	New	Wells Fargo Co.	$245,000	–	4,660	–	0.11%	–
DUK	New	Duke Energy Corp.	$244,000	–	3,293	–	0.11%	–
SYY	New	Sysco	$237,000	–	6,333	–	0.10%	–
CTAS	New	Cintas Corp	$235,000	–	3,700	–	0.10%	–
ESRX	New	Express Scripts	$203,000	–	2,922	–	0.09%	–
RDSA	New	Royal Dutch Shell PLC ADR A	$200,000	–	2,433	–	0.09%	–
NXRA	New	Nextera Enterprises Inc.	$0	–	30,000	–	0.00%	–
MTCI	New	Management Technologies Inc.	$0	–	50,000	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
MTCI	Exit	Management Technologies Inc.	$0	–	-50,000	–	0.00%	–
ISCIQ	Exit	ISC8 Inc.	$0	–	-29,311	–	0.00%	–
NXRA	Exit	Nextera Enterprises Inc.	$0	–	-30,000	–	0.00%	–
SYY	Exit	Sysco	$0	–	-6,333	–	-0.09%	–
WFC	Exit	Wells Fargo Co.	$0	–	-5,260	–	-0.10%	–
CTAS	Exit	Cintas Corp	$0	–	-4,300	–	-0.10%	–
CAT	Exit	Caterpillar	$0	–	-2,700	–	-0.10%	–
KO	Exit	Coca-Cola Co.	$0	–	-6,020	–	-0.10%	–
CTAPRA	Exit	DuPont PFD $3.50 SER Apfd	$0	–	-3,200	–	-0.11%	–
VZ	Exit	Verizon Communications	$0	–	-5,125	–	-0.11%	–
QEP	Exit	QEP Resources	$0	–	-9,900	–	-0.13%	–
ADP	Exit	Automatic Data Proc	$0	–	-4,300	–	-0.14%	–
UNP	Exit	Union Pacific Corp.	$0	–	-2,000	–	-0.14%	–
FDX	Exit	Fedex Corp.	$0	–	-2,950	–	-0.16%	–
DOV	Exit	Dover Corp	$0	–	-3,875	–	-0.16%	–
LLY	Exit	Lilly, Eli	$0	–	-7,150	–	-0.17%	–
AVB	Exit	AvalonBay Communities	$0	–	-3,027	–	-0.18%	–
SYK	Exit	Stryker	$0	–	-6,200	–	-0.19%	–
DUK	Exit	Duke Energy Corp.	$0	–	-6,299	–	-0.19%	–
SO	Exit	Southern Co.	$0	–	-11,350	–	-0.22%	–
STR	Exit	Questar Corp.	$0	–	-21,350	–	-0.22%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-9,468	–	-0.22%	–
ADI	Exit	Analog Devices	$0	–	-10,550	–	-0.23%	–
GIS	Exit	General Mills	$0	–	-11,200	–	-0.25%	–
LCNTU	Exit	LA Cent Oil&Gas Co.	$0	–	-225	–	-0.27%	–
HD	Exit	Home Depot Inc.	$0	–	-9,350	–	-0.33%	–
T	Exit	AT & T Corp.	$0	–	-23,267	–	-0.36%	–
PAYX	Exit	Paychex Inc	$0	–	-19,949	–	-0.37%	–
KMB	Exit	Kimberly-Clark	$0	–	-8,825	–	-0.38%	–
CVX	Exit	Chevron Corp.	$0	–	-7,315	–	-0.41%	–
CL	Exit	Colgate Palmolive	$0	–	-16,556	–	-0.45%	–
NFG	Exit	National Fuel Gas	$0	–	-15,100	–	-0.48%	–
IBM	Exit	Int'l Bus Machines	$0	–	-6,090	–	-0.52%	–
PCL	Exit	Plum Creek Timber	$0	–	-26,200	–	-0.56%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-7,700	–	-0.60%	–
XOM	Exit	Exxon Mobil	$0	–	-15,495	–	-0.61%	–
COST	Exit	Costco Wholesale Corp.	$0	–	-13,692	–	-0.72%	–
MMM	Exit	3M Company	$0	–	-13,550	–	-0.74%	–
ABT	Exit	Abbott Laboratories	$0	–	-62,550	–	-0.96%	–
COP	Exit	Conocophillips	$0	–	-30,462	–	-0.97%	–
NEM	Exit	Newmont Mining Corp.	$0	–	-83,425	–	-1.08%	–
ABBV	Exit	AbbVie Inc.	$0	–	-55,750	–	-1.15%	–
GOLD	Exit	Barrick Gold Corp	$0	–	-155,358	–	-1.33%	–
PHG	Exit	Philips	$0	–	-98,051	–	-1.45%	–
TLM	Exit	Talisman Energy Inc.	$0	–	-278,500	–	-1.47%	–
DBD	Exit	Diebold Inc.	$0	–	-120,175	–	-1.62%	–
NSRGY	Exit	Nestle S A ADR	$0	–	-50,812	–	-1.63%	–
HAL	Exit	Halliburton Co.	$0	–	-79,275	–	-1.76%	–
GLW	Exit	Corning	$0	–	-289,650	–	-1.94%	–
UTX	Exit	United Technologies	$0	–	-39,281	–	-1.95%	–
EMC	Exit	EMC Corp.	$0	–	-172,210	–	-2.02%	–
INTC	Exit	Intel	$0	–	-198,095	–	-2.09%	–
VOD	Exit	Vodafone Group PLC ADR	$0	–	-137,125	–	-2.22%	–
CSCO	Exit	Cisco Systems	$0	–	-210,050	–	-2.25%	–
APC	Exit	Anadarko Petroleum	$0	–	-53,775	–	-2.30%	–
ABB	Exit	ABB AB Spons ADR	$0	–	-212,575	–	-2.31%	–
OXY	Exit	Occidental Petroleum	$0	–	-55,245	–	-2.38%	–
DOW	Exit	Dow Chemical	$0	–	-138,800	–	-2.45%	–
DVN	Exit	Devon Energy	$0	–	-98,030	–	-2.60%	–
MSFT	Exit	Microsoft	$0	–	-172,596	–	-2.64%	–
PCAR	Exit	Paccar Inc.	$0	–	-103,212	–	-2.64%	–
SLB	Exit	Schlumberger, Ltd.	$0	–	-66,453	–	-2.70%	–
IP	Exit	International Paper	$0	–	-133,400	–	-2.75%	–
GSK	Exit	Glaxo Smithkline PLC-Spon ADR	$0	–	-120,875	–	-2.79%	–
MRO	Exit	Marathon Oil Corp.	$0	–	-178,575	–	-2.86%	–
PFE	Exit	Pfizer Inc.	$0	–	-218,035	–	-2.88%	–
MRK	Exit	Merck & Co.	$0	–	-132,521	–	-2.90%	–
GE	Exit	General Electric	$0	–	-268,073	–	-2.95%	–
PG	Exit	Procter & Gamble	$0	–	-86,502	–	-3.01%	–
DD	Exit	DuPont	$0	–	-114,153	–	-3.08%	–
WY	Exit	Weyerhaeuser Co.	$0	–	-241,107	–	-3.18%	–
UL	Exit	Unilever PLC ADR	$0	–	-187,876	–	-3.33%	–
NVS	Exit	Novartis AG ADR	$0	–	-94,670	–	-3.34%	–
HON	Exit	Honeywell Int'l	$0	–	-91,919	–	-3.51%	–
JNJ	Exit	Johnson & Johnson	$0	–	-88,728	–	-3.54%	–
CVS	Exit	CVS/Caremark Corp.	$0	–	-146,955	–	-3.84%	–

Q3 2013

			Value		Shares		↓ Weighting
CVS	Sell	CVS/Caremark Corp.	$8,340,000	-3.9%	146,955	-3.2%	3.84%	-7.3%
JNJ	Sell	Johnson & Johnson	$7,692,000	+0.9%	88,728	-0.1%	3.54%	-2.7%
HON	Sell	Honeywell Int'l	$7,633,000	+1.0%	91,919	-3.5%	3.51%	-2.6%
NVS	Sell	Novartis AG ADR	$7,262,000	+7.2%	94,670	-1.2%	3.34%	+3.4%
UL	Sell	Unilever PLC ADR	$7,248,000	-5.6%	187,876	-1.0%	3.33%	-8.9%
WY	Buy	Weyerhaeuser Co.	$6,903,000	+3.1%	241,107	+2.6%	3.18%	-0.5%
DD	Sell	DuPont	$6,685,000	+11.1%	114,153	-0.4%	3.08%	+7.3%
PG	Sell	Procter & Gamble	$6,539,000	-2.6%	86,502	-0.8%	3.01%	-6.0%
GE	Buy	General Electric	$6,404,000	+3.3%	268,073	+0.3%	2.95%	-0.3%
MRK	Buy	Merck & Co.	$6,309,000	+3.9%	132,521	+1.3%	2.90%	+0.2%
PFE	Buy	Pfizer Inc.	$6,263,000	+2.8%	218,035	+0.2%	2.88%	-0.8%
MRO	Buy	Marathon Oil Corp.	$6,229,000	+4.0%	178,575	+3.1%	2.86%	+0.3%
GSK	Sell	Glaxo Smithkline PLC-Spon ADR	$6,064,000	-1.0%	120,875	-1.3%	2.79%	-4.5%
IP	Buy	International Paper	$5,976,000	+2.0%	133,400	+0.9%	2.75%	-1.5%
SLB	Sell	Schlumberger, Ltd.	$5,872,000	+22.5%	66,453	-0.6%	2.70%	+18.3%
PCAR	Buy	Paccar Inc.	$5,745,000	+4.3%	103,212	+0.5%	2.64%	+0.6%
MSFT	Sell	Microsoft	$5,744,000	-3.9%	172,596	-0.2%	2.64%	-7.3%
DVN	Buy	Devon Energy	$5,662,000	+11.8%	98,030	+0.4%	2.60%	+7.9%
DOW	Sell	Dow Chemical	$5,330,000	+19.2%	138,800	-0.1%	2.45%	+15.1%
OXY	Buy	Occidental Petroleum	$5,168,000	+7.3%	55,245	+2.4%	2.38%	+3.5%
ABB	Buy	ABB AB Spons ADR	$5,015,000	+14.6%	212,575	+5.2%	2.31%	+10.5%
APC	Sell	Anadarko Petroleum	$5,001,000	+4.7%	53,775	-3.2%	2.30%	+1.0%
CSCO	Buy	Cisco Systems	$4,886,000	-1.0%	210,050	+3.6%	2.25%	-4.4%
VOD	Buy	Vodafone Group PLC ADR	$4,824,000	+26.8%	137,125	+3.6%	2.22%	+22.4%
INTC	Buy	Intel	$4,541,000	-3.9%	198,095	+1.6%	2.09%	-7.2%
EMC	Buy	EMC Corp.	$4,402,000	+76.6%	172,210	+63.1%	2.02%	+70.5%
UTX	Sell	United Technologies	$4,235,000	+14.2%	39,281	-1.5%	1.95%	+10.2%
GLW	Sell	Corning	$4,226,000	+0.0%	289,650	-2.4%	1.94%	-3.5%
HAL	Sell	Halliburton Co.	$3,817,000	+13.7%	79,275	-1.5%	1.76%	+9.8%
NSRGY	Buy	Nestle S A ADR	$3,537,000	+7.2%	50,812	+1.3%	1.63%	+3.5%
DBD	Buy	Diebold Inc.	$3,528,000	-7.9%	120,175	+5.7%	1.62%	-11.1%
TLM	Buy	Talisman Energy Inc.	$3,203,000	+2.9%	278,500	+2.3%	1.47%	-0.7%
PHG	Buy	Philips	$3,162,000	+32.4%	98,051	+11.6%	1.45%	+27.8%
GOLD	Sell	Barrick Gold Corp	$2,893,000	+4.1%	155,358	-12.0%	1.33%	+0.5%
ABBV	Sell	AbbVie Inc.	$2,494,000	-6.2%	55,750	-13.4%	1.15%	-9.5%
NEM	Sell	Newmont Mining Corp.	$2,344,000	-14.4%	83,425	-8.8%	1.08%	-17.4%
COP	Buy	Conocophillips	$2,117,000	+18.8%	30,462	+3.4%	0.97%	+14.7%
ABT	Sell	Abbott Laboratories	$2,076,000	-7.5%	62,550	-2.8%	0.96%	-10.7%
MMM	Buy	3M Company	$1,618,000	+12.5%	13,550	+3.0%	0.74%	+8.6%
COST	Sell	Costco Wholesale Corp.	$1,577,000	+2.1%	13,692	-2.0%	0.72%	-1.5%
EOG	Sell	EOG Resources, Inc.	$1,303,000	+27.6%	7,700	-0.6%	0.60%	+23.0%
PCL	Buy	Plum Creek Timber	$1,227,000	+89.9%	26,200	+89.2%	0.56%	+83.1%
CVX	Buy	Chevron Corp.	$889,000	+6.3%	7,315	+3.5%	0.41%	+2.5%
KMB	Sell	Kimberly-Clark	$831,000	-5.8%	8,825	-2.8%	0.38%	-9.0%
PAYX	Buy	Paychex Inc	$811,000	+11.9%	19,949	+0.5%	0.37%	+7.8%
T	Sell	AT & T Corp.	$787,000	-8.1%	23,267	-3.7%	0.36%	-11.3%
HD	Sell	Home Depot Inc.	$709,000	-7.6%	9,350	-5.6%	0.33%	-10.9%
ADI	Sell	Analog Devices	$496,000	-85.1%	10,550	-85.7%	0.23%	-85.6%
STR	Buy	Questar Corp.	$480,000	+1.9%	21,350	+8.1%	0.22%	-1.8%
SO	Sell	Southern Co.	$467,000	-11.4%	11,350	-5.0%	0.22%	-14.3%
DUK	Sell	Duke Energy Corp.	$421,000	-31.3%	6,299	-30.7%	0.19%	-33.6%
SYK	Sell	Stryker	$419,000	-1.9%	6,200	-6.1%	0.19%	-5.4%
DOV	New	Dover Corp	$348,000	–	3,875	–	0.16%	–
QEP	Sell	QEP Resources	$274,000	-7.7%	9,900	-7.5%	0.13%	-11.3%
CTAS	New	Cintas Corp	$220,000	–	4,300	–	0.10%	–
MTCI	New	Management Technologies Inc.	$0	–	50,000	–	0.00%	–
NXRA	New	Nextera Enterprises Inc.	$0	–	30,000	–	0.00%	–
ISCIQ	Sell	ISC8 Inc.	$1,000	-75.0%	29,311	-63.0%	0.00%	-100.0%
LUFK	Exit	Lufkin Industries Inc.	$0	–	-3,950	–	-0.17%	–

Q2 2013

			Value		Shares		↓ Weighting
CVS	New	CVS/Caremark Corp.	$8,680,000	–	151,794	–	4.14%	–
UL	New	Unilever PLC ADR	$7,674,000	–	189,726	–	3.66%	–
JNJ	New	Johnson & Johnson	$7,627,000	–	88,828	–	3.64%	–
HON	New	Honeywell Int'l	$7,561,000	–	95,293	–	3.60%	–
NVS	New	Novartis AG ADR	$6,774,000	–	95,795	–	3.23%	–
PG	New	Procter & Gamble	$6,714,000	–	87,202	–	3.20%	–
WY	New	Weyerhaeuser Co.	$6,693,000	–	234,932	–	3.19%	–
GE	New	General Electric	$6,199,000	–	267,323	–	2.96%	–
GSK	New	Glaxo Smithkline PLC-Spon ADR	$6,123,000	–	122,525	–	2.92%	–
PFE	New	Pfizer Inc.	$6,093,000	–	217,526	–	2.90%	–
MRK	New	Merck & Co.	$6,075,000	–	130,796	–	2.90%	–
DD	New	DuPont	$6,015,000	–	114,578	–	2.87%	–
MRO	New	Marathon Oil Corp.	$5,991,000	–	173,250	–	2.86%	–
MSFT	New	Microsoft	$5,976,000	–	172,996	–	2.85%	–
IP	New	International Paper	$5,856,000	–	132,150	–	2.79%	–
PCAR	New	Paccar Inc.	$5,508,000	–	102,649	–	2.63%	–
DVN	New	Devon Energy	$5,065,000	–	97,630	–	2.41%	–
CSCO	New	Cisco Systems	$4,933,000	–	202,725	–	2.35%	–
OXY	New	Occidental Petroleum	$4,816,000	–	53,975	–	2.30%	–
SLB	New	Schlumberger, Ltd.	$4,792,000	–	66,878	–	2.28%	–
APC	New	Anadarko Petroleum	$4,776,000	–	55,575	–	2.28%	–
INTC	New	Intel	$4,725,000	–	194,995	–	2.25%	–
DOW	New	Dow Chemical	$4,470,000	–	138,950	–	2.13%	–
ABB	New	ABB AB Spons ADR	$4,378,000	–	202,125	–	2.09%	–
GLW	New	Corning	$4,224,000	–	296,850	–	2.01%	–
DBD	New	Diebold Inc.	$3,830,000	–	113,675	–	1.83%	–
VOD	New	Vodafone Group PLC ADR	$3,803,000	–	132,300	–	1.81%	–
UTX	New	United Technologies	$3,707,000	–	39,881	–	1.77%	–
HAL	New	Halliburton Co.	$3,357,000	–	80,475	–	1.60%	–
ADI	New	Analog Devices	$3,323,000	–	73,750	–	1.58%	–
NSRGY	New	Nestle S A ADR	$3,298,000	–	50,137	–	1.57%	–
TLM	New	Talisman Energy Inc.	$3,112,000	–	272,300	–	1.48%	–
GOLD	New	Barrick Gold Corp	$2,778,000	–	176,472	–	1.32%	–
NEM	New	Newmont Mining Corp.	$2,738,000	–	91,425	–	1.30%	–
ABBV	New	AbbVie Inc.	$2,660,000	–	64,350	–	1.27%	–
EMC	New	EMC Corp.	$2,493,000	–	105,560	–	1.19%	–
PHG	New	Philips	$2,388,000	–	87,842	–	1.14%	–
ABT	New	Abbott Laboratories	$2,245,000	–	64,350	–	1.07%	–
COP	New	Conocophillips	$1,782,000	–	29,462	–	0.85%	–
COST	New	Costco Wholesale Corp.	$1,544,000	–	13,967	–	0.74%	–
MMM	New	3M Company	$1,438,000	–	13,150	–	0.68%	–
XOM	New	Exxon Mobil	$1,400,000	–	15,495	–	0.67%	–
IBM	New	Int'l Bus Machines	$1,164,000	–	6,090	–	0.56%	–
EOG	New	EOG Resources, Inc.	$1,021,000	–	7,750	–	0.49%	–
CL	New	Colgate Palmolive	$948,000	–	16,556	–	0.45%	–
KMB	New	Kimberly-Clark	$882,000	–	9,075	–	0.42%	–
NFG	New	National Fuel Gas	$875,000	–	15,100	–	0.42%	–
T	New	AT & T Corp.	$856,000	–	24,167	–	0.41%	–
CVX	New	Chevron Corp.	$836,000	–	7,065	–	0.40%	–
HD	New	Home Depot Inc.	$767,000	–	9,900	–	0.37%	–
PAYX	New	Paychex Inc	$725,000	–	19,849	–	0.35%	–
PCL	New	Plum Creek Timber	$646,000	–	13,850	–	0.31%	–
DUK	New	Duke Energy Corp.	$613,000	–	9,085	–	0.29%	–
LCNTU	New	LA Cent Oil&Gas Co.	$608,000	–	225	–	0.29%	–
GIS	New	General Mills	$544,000	–	11,200	–	0.26%	–
SO	New	Southern Co.	$527,000	–	11,950	–	0.25%	–
JPM	New	JP Morgan Chase & Co.	$500,000	–	9,468	–	0.24%	–
STR	New	Questar Corp.	$471,000	–	19,750	–	0.22%	–
SYK	New	Stryker	$427,000	–	6,600	–	0.20%	–
AVB	New	AvalonBay Communities	$408,000	–	3,027	–	0.19%	–
LLY	New	Lilly, Eli	$351,000	–	7,150	–	0.17%	–
LUFK	New	Lufkin Industries Inc.	$349,000	–	3,950	–	0.17%	–
UNP	New	Union Pacific Corp.	$309,000	–	2,000	–	0.15%	–
QEP	New	QEP Resources	$297,000	–	10,700	–	0.14%	–
ADP	New	Automatic Data Proc	$296,000	–	4,300	–	0.14%	–
FDX	New	Fedex Corp.	$291,000	–	2,950	–	0.14%	–
CTAPRA	New	DuPont PFD $3.50 SER Apfd	$279,000	–	3,200	–	0.13%	–
VZ	New	Verizon Communications	$258,000	–	5,125	–	0.12%	–
KO	New	Coca-Cola Co.	$241,000	–	6,020	–	0.12%	–
CAT	New	Caterpillar	$223,000	–	2,700	–	0.11%	–
SYY	New	Sysco	$216,000	–	6,333	–	0.10%	–
WFC	New	Wells Fargo Co.	$217,000	–	5,260	–	0.10%	–
ISCIQ	New	ISC8 Inc.	$4,000	–	79,311	–	0.00%	–

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