ARMSTRONG HENRY H ASSOCIATES INC Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$248,334,467	-7.6%	786,491	-0.4%	28.37%	-4.5%
BRKB	Sell	Berkshire Hathaway Inc. B	$122,649,751	+2.4%	350,128	-0.3%	14.01%	+5.9%
JNJ	Sell	Johnson & Johnson	$60,781,859	-6.6%	390,253	-0.8%	6.94%	-3.4%
PG	Sell	Procter & Gamble	$58,940,081	-4.6%	404,087	-0.7%	6.73%	-1.3%
MCO	Sell	Moody's Corp	$50,895,959	-9.5%	160,977	-0.5%	5.81%	-6.4%
APD	Sell	Air Products & Chemicals	$16,342,950	-5.9%	57,667	-0.6%	1.87%	-2.7%
INTC	Sell	Intel Corp	$15,121,899	+5.4%	425,370	-0.9%	1.73%	+9.0%
MDT	Sell	Medtronic PLC	$13,499,294	-13.7%	172,273	-2.9%	1.54%	-10.7%
GOOG	Sell	Alphabet Inc Cl C	$13,254,749	+8.2%	100,529	-0.8%	1.51%	+11.9%
UNP	Buy	Union Pacific Corp	$12,194,052	-0.3%	59,883	+0.1%	1.39%	+3.1%
AAPL	Buy	Apple Inc.	$11,978,323	-11.7%	69,963	+0.0%	1.37%	-8.7%
KO	Sell	Coca-Cola Company	$9,391,625	-8.2%	167,768	-1.2%	1.07%	-5.0%
MA	Sell	Mastercard Inc	$5,791,371	-0.7%	14,628	-1.3%	0.66%	+2.8%
GOOGL	Buy	Alphabet Inc Cl A	$4,764,220	+9.5%	36,407	+0.1%	0.54%	+13.1%
WAT	Sell	Waters Corp.	$2,933,773	+2.7%	10,699	-0.2%	0.34%	+6.0%
ABT	Sell	Abbott Laboratories	$2,774,946	-11.3%	28,652	-0.2%	0.32%	-8.4%
MKC	Sell	McCormick & Co	$2,014,898	-19.9%	26,638	-7.6%	0.23%	-17.3%
	Sell	Visa Inc.	$1,724,845	-3.8%	7,499	-0.7%	0.20%	-0.5%
	Buy	General Electric Co.	$1,519,731	+4.1%	13,747	+3.5%	0.17%	+8.1%
FAST	Sell	Fastenal Co	$1,507,080	-10.6%	27,582	-3.5%	0.17%	-7.5%
XOM	Sell	ExxonMobil Inc.	$1,210,721	+7.2%	10,297	-2.2%	0.14%	+10.4%
ADSK	Sell	Autodesk Inc	$1,010,755	-8.0%	4,885	-9.0%	0.12%	-5.0%
NVO	Buy	Novo Nordisk ADR	$938,865	+12.4%	10,324	+100.0%	0.11%	+16.3%
IBM	Sell	IBM	$786,662	-9.7%	5,607	-13.8%	0.09%	-6.2%
DIS	Sell	Walt Disney Co	$734,232	-9.8%	9,059	-0.6%	0.08%	-6.7%
TJX	Sell	TJX Companies	$708,374	-0.8%	7,970	-5.3%	0.08%	+2.5%
COST	Sell	Costco Wholesale Corp	$630,495	+0.9%	1,116	-3.9%	0.07%	+4.3%
NVDA	Buy	Nvidia Corp	$598,111	+15.4%	1,375	+12.2%	0.07%	+19.3%
EXPD	Buy	Expeditors Intl Wash	$542,606	-0.6%	4,734	+5.0%	0.06%	+3.3%
RBA	Sell	RB Global, Inc.	$484,688	-4.1%	7,755	-7.9%	0.06%	-1.8%
EMR	Sell	Emerson Electric	$417,569	-8.8%	4,324	-14.6%	0.05%	-5.9%
NTR	Sell	Nutrien	$377,539	+3.7%	6,113	-0.8%	0.04%	+7.5%
	Buy	GE Healthcare Technologies	$279,304	-13.0%	4,105	+3.9%	0.03%	-8.6%
AMGN	New	Amgen Inc.	$234,090	–	870	–	0.03%	–
RTX	Exit	Raytheon Technologies Co	$0	–	-2,590	–	-0.03%	–

Q2 2023

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$268,848,475	–	789,477	–	29.69%	–
BRKA	New	Berkshire Hathaway Inc. A	$178,126,640	–	344	–	19.67%	–
BRKB	New	Berkshire Hathaway Inc. B	$119,788,441	–	351,286	–	13.23%	–
JNJ	New	Johnson & Johnson	$65,095,363	–	393,278	–	7.19%	–
PG	New	Procter & Gamble	$61,761,272	–	407,020	–	6.82%	–
MCO	New	Moody's Corp	$56,254,108	–	161,780	–	6.21%	–
APD	New	Air Products & Chemicals	$17,369,674	–	57,990	–	1.92%	–
MDT	New	Medtronic PLC	$15,637,969	–	177,502	–	1.73%	–
INTC	New	Intel Corp	$14,353,101	–	429,220	–	1.58%	–
AAPL	New	Apple Inc.	$13,567,986	–	69,949	–	1.50%	–
GOOG	New	Alphabet Inc Cl C	$12,252,930	–	101,289	–	1.35%	–
UNP	New	Union Pacific Corp	$12,236,265	–	59,800	–	1.35%	–
KO	New	Coca-Cola Co	$10,226,410	–	169,818	–	1.13%	–
MA	New	Mastercard Inc	$5,829,886	–	14,823	–	0.64%	–
GOOGL	New	Alphabet Inc Cl A	$4,351,933	–	36,357	–	0.48%	–
ADP	New	Automatic Data Processing	$3,596,204	–	16,362	–	0.40%	–
HD	New	Home Depot	$3,377,589	–	10,873	–	0.37%	–
PEP	New	Pepsico	$3,175,041	–	17,142	–	0.35%	–
ABT	New	Abbott Labs	$3,129,092	–	28,702	–	0.35%	–
ABBV	New	Abbvie Inc	$3,108,895	–	23,075	–	0.34%	–
WAT	New	Waters Corp.	$2,857,042	–	10,719	–	0.32%	–
SPY	New	S&P Depository Receiptsetf	$2,654,891	–	5,989	–	0.29%	–
MKC	New	McCormick & Co	$2,514,230	–	28,823	–	0.28%	–
J	New	Jacobs Engineering Gp	$2,030,760	–	17,081	–	0.22%	–
	New	Visa Inc.	$1,792,737	–	7,549	–	0.20%	–
FAST	New	Fastenal Co	$1,685,757	–	28,577	–	0.19%	–
AMZN	New	Amazon Com Inc.	$1,611,901	–	12,365	–	0.18%	–
MMM	New	3M Company	$1,515,663	–	15,143	–	0.17%	–
	New	General Electric	$1,459,247	–	13,284	–	0.16%	–
SCHW	New	The Charles Schwab Corp	$1,393,818	–	24,591	–	0.15%	–
XOM	New	ExxonMobil	$1,129,235	–	10,529	–	0.12%	–
ADSK	New	Autodesk Inc	$1,098,756	–	5,370	–	0.12%	–
PFE	New	Pfizer Inc	$887,473	–	24,195	–	0.10%	–
IBM	New	IBM	$870,702	–	6,507	–	0.10%	–
NVO	New	Novo Nordisk ADR	$835,366	–	5,162	–	0.09%	–
DIS	New	Walt Disney Co	$813,787	–	9,115	–	0.09%	–
VTI	New	Vanguard Total Stock Mktetf	$770,980	–	3,500	–	0.08%	–
TJX	New	TJX Companies	$713,932	–	8,420	–	0.08%	–
COST	New	Costco Wholesale Corp	$625,059	–	1,161	–	0.07%	–
HSY	New	Hershey Foods	$606,771	–	2,430	–	0.07%	–
EXPD	New	Expeditors Intl Wash	$546,119	–	4,509	–	0.06%	–
NVDA	New	Nvidia Corp	$518,200	–	1,225	–	0.06%	–
RBA	New	RB Global, Inc.	$505,200	–	8,420	–	0.06%	–
EMR	New	Emerson Electric	$457,735	–	5,064	–	0.05%	–
NTR	New	Nutrien	$363,925	–	6,163	–	0.04%	–
BHC	New	Bausch Health Cos Inc	$353,720	–	44,215	–	0.04%	–
MRK	New	Merck & Co.	$349,747	–	3,031	–	0.04%	–
SHW	New	Sherwin Williams Co	$318,624	–	1,200	–	0.04%	–
	New	GE Healthcare Technologies	$321,060	–	3,952	–	0.04%	–
WMT	New	Wal-Mart Stores, Inc	$300,843	–	1,914	–	0.03%	–
KMB	New	Kimberly Clark Corp.	$274,187	–	1,986	–	0.03%	–
DAR	New	Darling Ingredients Inc	$259,625	–	4,070	–	0.03%	–
RTX	New	Raytheon Technologies Co	$253,716	–	2,590	–	0.03%	–
IVV	New	Ishares S&P500 Index Fdetf	$233,998	–	525	–	0.03%	–
CVX	New	Chevron Corp.	$215,097	–	1,367	–	0.02%	–
CDNA	New	CareDx Inc.	$136,306	–	16,036	–	0.02%	–
	New	Nextdoor Hldgs Inc	$33,281	–	10,209	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
RTX	Exit	Raytheon Tech	$0	–	-2,590	–	-0.03%	–
IVV	Exit	Ishares S&P500 Index Fdetf	$0	–	-625	–	-0.03%	–
KMB	Exit	Kimberly Clark	$0	–	-1,986	–	-0.03%	–
MRK	Exit	Merck & Co.	$0	–	-2,795	–	-0.03%	–
GLW	Exit	Corning Inc.	$0	–	-8,450	–	-0.03%	–
SHW	Exit	Sherwin Williams Co	$0	–	-1,200	–	-0.03%	–
WMT	Exit	Wal-Mart Stores, Inc	$0	–	-1,914	–	-0.03%	–
DAR	Exit	Darling Ingredients Inc	$0	–	-4,070	–	-0.04%	–
CDNA	Exit	CareDx Inc.	$0	–	-16,036	–	-0.04%	–
NTR	Exit	Nutrien	$0	–	-4,348	–	-0.05%	–
BHC	Exit	Bausch Health Cos Inc	$0	–	-56,095	–	-0.05%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-4,408	–	-0.05%	–
RBA	Exit	Ritchie Bros. Auctioneers	$0	–	-7,545	–	-0.06%	–
EMR	Exit	Emerson Elec	$0	–	-6,484	–	-0.06%	–
LBRDK	Exit	Liberty Broadband Corp Cl C	$0	–	-6,947	–	-0.07%	–
HSY	Exit	Hershey Foods	$0	–	-2,430	–	-0.07%	–
ECL	Exit	Ecolab Inc.	$0	–	-3,975	–	-0.08%	–
TJX	Exit	TJX Companies	$0	–	-9,535	–	-0.08%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,287	–	-0.08%	–
VTI	Exit	Vanguard Total Stock Mktetf	$0	–	-3,500	–	-0.08%	–
SPY	Exit	S&P Depository Receiptsetf	$0	–	-1,831	–	-0.09%	–
FB	Exit	Meta Platforms Inc.	$0	–	-5,472	–	-0.10%	–
IBM	Exit	IBM	$0	–	-6,507	–	-0.10%	–
	Exit	General Electric	$0	–	-13,302	–	-0.11%	–
DIS	Exit	Walt Disney Co	$0	–	-9,115	–	-0.12%	–
NVO	Exit	Novo Nordisk ADR	$0	–	-8,705	–	-0.12%	–
XOM	Exit	ExxonMobil	$0	–	-10,919	–	-0.13%	–
ADSK	Exit	Autodesk Inc	$0	–	-5,405	–	-0.14%	–
PFE	Exit	Pfizer Inc	$0	–	-24,895	–	-0.15%	–
FAST	Exit	Fastenal Co	$0	–	-28,940	–	-0.18%	–
KMX	Exit	Carmax Inc.	$0	–	-20,601	–	-0.18%	–
	Exit	Visa	$0	–	-7,762	–	-0.19%	–
WU	Exit	Western Union	$0	–	-117,194	–	-0.21%	–
MMM	Exit	3M Company	$0	–	-15,438	–	-0.23%	–
AMZN	Exit	Amazon Com Inc.	$0	–	-15,950	–	-0.24%	–
J	Exit	Jacobs Engineering Gp	$0	–	-17,881	–	-0.26%	–
SCHW	Exit	The Charles Schwab Corp	$0	–	-27,591	–	-0.27%	–
WAT	Exit	Waters Corp.	$0	–	-10,463	–	-0.38%	–
PEP	Exit	Pepsico	$0	–	-17,568	–	-0.39%	–
ABT	Exit	Abbott Labs	$0	–	-29,852	–	-0.39%	–
HD	Exit	Home Depot	$0	–	-10,873	–	-0.41%	–
ABBV	Exit	Abbvie Inc	$0	–	-25,010	–	-0.46%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-38,860	–	-0.50%	–
ADP	Exit	Automatic Data	$0	–	-17,349	–	-0.53%	–
MKC	Exit	McCormick & Co	$0	–	-57,789	–	-0.56%	–
MA	Exit	Mastercard Inc	$0	–	-14,881	–	-0.57%	–
UNP	Exit	Union Pacific Corp	$0	–	-42,335	–	-1.12%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-272,593	–	-1.16%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-101,620	–	-1.32%	–
KO	Exit	Coca-Cola Co	$0	–	-178,624	–	-1.36%	–
APD	Exit	Air Products & Chemicals	$0	–	-43,055	–	-1.36%	–
AAPL	Exit	Apple Computer	$0	–	-75,478	–	-1.41%	–
INTC	Exit	Intel Corp	$0	–	-477,342	–	-1.67%	–
MDT	Exit	Medtronic PLC	$0	–	-210,915	–	-2.31%	–
MCO	Exit	Moody's Corp	$0	–	-174,236	–	-5.74%	–
PG	Exit	Procter & Gamble	$0	–	-419,747	–	-7.18%	–
JNJ	Exit	Johnson & Johnson	$0	–	-418,838	–	-9.27%	–
BRKB	Exit	Berkshire Hathaway Inc. B	$0	–	-345,156	–	-12.49%	–
BRKA	Exit	Berkshire Hathaway Inc. A	$0	–	-360	–	-19.83%	–
MSFT	Exit	Microsoft	$0	–	-814,526	–	-25.71%	–

Q3 2022

			Value		Shares		↓ Weighting
MSFT	Buy	Microsoft	$189,703,000	-9.3%	814,526	+0.0%	25.71%	-2.5%
BRKA	Buy	Berkshire Hathaway Inc. A	$146,329,000	+0.2%	360	+0.8%	19.83%	+7.7%
BRKB	Buy	Berkshire Hathaway Inc. B	$92,163,000	-2.2%	345,156	+0.0%	12.49%	+5.1%
JNJ	Buy	Johnson & Johnson	$68,421,000	-7.4%	418,838	+0.6%	9.27%	-0.6%
PG	Buy	Procter & Gamble	$52,993,000	-11.5%	419,747	+0.8%	7.18%	-4.9%
MCO	Buy	Moody's Corp	$42,359,000	-10.6%	174,236	+0.0%	5.74%	-3.9%
MDT	Buy	Medtronic PLC	$17,031,000	-9.9%	210,915	+0.2%	2.31%	-3.2%
INTC	Sell	Intel Corp	$12,301,000	-31.5%	477,342	-0.5%	1.67%	-26.4%
AAPL	Buy	Apple Computer	$10,431,000	+8.0%	75,478	+6.8%	1.41%	+16.1%
APD	Buy	Air Products & Chemicals	$10,020,000	+1.2%	43,055	+4.5%	1.36%	+8.7%
KO	Sell	Coca-Cola Co	$10,006,000	-12.0%	178,624	-1.2%	1.36%	-5.5%
GOOG	Buy	Alphabet Inc Cl C	$9,771,000	-11.0%	101,620	+1924.3%	1.32%	-4.4%
WBA	Sell	Walgreen Boots Alliance	$8,559,000	-18.9%	272,593	-2.1%	1.16%	-12.8%
UNP	Buy	Union Pacific Corp	$8,248,000	-3.9%	42,335	+5.3%	1.12%	+3.3%
MA	Buy	Mastercard Inc	$4,231,000	-9.5%	14,881	+0.4%	0.57%	-2.9%
MKC	Buy	McCormick & Co	$4,119,000	-13.8%	57,789	+0.6%	0.56%	-7.5%
ADP	Sell	Automatic Data	$3,924,000	+6.5%	17,349	-1.1%	0.53%	+14.4%
GOOGL	Buy	Alphabet Inc Cl A	$3,717,000	-4.2%	38,860	+2081.9%	0.50%	+2.9%
ABT	Sell	Abbott Labs	$2,888,000	-11.5%	29,852	-0.7%	0.39%	-5.1%
WAT	Buy	Waters Corp.	$2,820,000	-16.5%	10,463	+2.5%	0.38%	-10.3%
AMZN	Buy	Amazon Com Inc.	$1,802,000	+7.6%	15,950	+1.2%	0.24%	+15.6%
MMM	Buy	3M Company	$1,706,000	-14.4%	15,438	+0.2%	0.23%	-8.0%
WU	Buy	Western Union	$1,582,000	-18.0%	117,194	+0.0%	0.21%	-11.9%
	Sell	Visa	$1,379,000	-10.6%	7,762	-1.0%	0.19%	-4.1%
FAST	Buy	Fastenal Co	$1,332,000	-7.2%	28,940	+0.7%	0.18%	0.0%
ADSK	Sell	Autodesk Inc	$1,010,000	+4.6%	5,405	-3.7%	0.14%	+12.3%
XOM	Sell	ExxonMobil	$953,000	-5.5%	10,919	-7.2%	0.13%	+1.6%
NVO	New	Novo Nordisk ADR	$867,000	–	8,705	–	0.12%	–
DIS	Sell	Walt Disney Co	$860,000	-2.2%	9,115	-2.1%	0.12%	+5.4%
FB	Buy	Meta Platforms Inc.	$742,000	-15.6%	5,472	+0.4%	0.10%	-9.0%
SPY	Buy	S&P Depository Receiptsetf	$654,000	-3.7%	1,831	+1.7%	0.09%	+3.5%
RBA	Buy	Ritchie Bros. Auctioneers	$471,000	+6.1%	7,545	+10.5%	0.06%	+14.3%
EXPD	Buy	Expeditors Intl Wash	$389,000	-7.4%	4,408	+2.3%	0.05%	0.0%
NTR	Buy	Nutrien	$363,000	+9.7%	4,348	+4.6%	0.05%	+16.7%
WMT	Sell	Wal-Mart Stores, Inc	$248,000	0.0%	1,914	-6.0%	0.03%	+9.7%
CVX	Exit	Chevron Corp	$0	–	-1,500	–	-0.03%	–
AMGN	Exit	Amgen Inc.	$0	–	-896	–	-0.03%	–
NVDA	Exit	Nvidia Corp	$0	–	-1,528	–	-0.03%	–

Q2 2022

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$209,112,000	–	814,203	–	26.38%	–
BRKA	New	Berkshire Hathaway	$145,995,000	–	357	–	18.42%	–
BRKB	New	Berkshire Hathaway	$94,231,000	–	345,144	–	11.89%	–
JNJ	New	Johnson & Johnson	$73,928,000	–	416,470	–	9.33%	–
PG	New	Procter & Gamble	$59,872,000	–	416,384	–	7.55%	–
MCO	New	Moody's Corp	$47,381,000	–	174,214	–	5.98%	–
MDT	New	Medtronic PLC	$18,897,000	–	210,553	–	2.38%	–
INTC	New	Intel Corp	$17,952,000	–	479,862	–	2.26%	–
KO	New	Coca-Cola Co	$11,373,000	–	180,780	–	1.44%	–
GOOG	New	Alphabet Inc Cl C	$10,981,000	–	5,020	–	1.38%	–
WBA	New	Walgreen Boots Alliance	$10,549,000	–	278,341	–	1.33%	–
APD	New	Air Products & Chemicals	$9,905,000	–	41,188	–	1.25%	–
AAPL	New	Apple Computer	$9,658,000	–	70,644	–	1.22%	–
UNP	New	Union Pacific Corp	$8,579,000	–	40,223	–	1.08%	–
MKC	New	McCormick & Co	$4,781,000	–	57,424	–	0.60%	–
MA	New	Mastercard Inc	$4,677,000	–	14,826	–	0.59%	–
GOOGL	New	Alphabet Inc Cl A	$3,881,000	–	1,781	–	0.49%	–
ABBV	New	Abbvie Inc	$3,831,000	–	25,010	–	0.48%	–
ADP	New	Automatic Data	$3,686,000	–	17,549	–	0.46%	–
WAT	New	Waters Corp.	$3,378,000	–	10,206	–	0.43%	–
ABT	New	Abbott Labs	$3,265,000	–	30,052	–	0.41%	–
HD	New	Home Depot	$2,982,000	–	10,873	–	0.38%	–
PEP	New	Pepsico	$2,928,000	–	17,568	–	0.37%	–
J	New	Jacobs Engineering Gp	$2,273,000	–	17,881	–	0.29%	–
MMM	New	3M Company	$1,993,000	–	15,403	–	0.25%	–
WU	New	Western Union	$1,930,000	–	117,187	–	0.24%	–
KMX	New	Carmax Inc.	$1,864,000	–	20,601	–	0.24%	–
SCHW	New	The Charles Schwab Corp	$1,743,000	–	27,591	–	0.22%	–
AMZN	New	Amazon Com Inc.	$1,674,000	–	15,760	–	0.21%	–
	New	Visa	$1,543,000	–	7,837	–	0.20%	–
FAST	New	Fastenal Co	$1,435,000	–	28,740	–	0.18%	–
PFE	New	Pfizer Inc	$1,305,000	–	24,895	–	0.16%	–
XOM	New	ExxonMobil	$1,008,000	–	11,769	–	0.13%	–
ADSK	New	Autodesk Inc	$966,000	–	5,615	–	0.12%	–
IBM	New	IBM	$919,000	–	6,507	–	0.12%	–
FB	New	Meta Platforms Inc.	$879,000	–	5,452	–	0.11%	–
DIS	New	Walt Disney Co	$879,000	–	9,315	–	0.11%	–
	New	General Electric	$847,000	–	13,302	–	0.11%	–
LBRDK	New	Liberty Broadband Corp Cl C	$803,000	–	6,947	–	0.10%	–
SPY	New	S&P Depository Receiptsetf	$679,000	–	1,801	–	0.09%	–
VTI	New	Vanguard Total Stock Mktetf	$660,000	–	3,500	–	0.08%	–
COST	New	Costco Wholesale Corp	$617,000	–	1,287	–	0.08%	–
ECL	New	Ecolab Inc.	$611,000	–	3,975	–	0.08%	–
TJX	New	TJX Companies	$533,000	–	9,535	–	0.07%	–
HSY	New	Hershey Foods	$523,000	–	2,430	–	0.07%	–
EMR	New	Emerson Elec	$516,000	–	6,484	–	0.06%	–
BHC	New	Bausch Health Cos Inc	$469,000	–	56,095	–	0.06%	–
RBA	New	Ritchie Bros. Auctioneers	$444,000	–	6,825	–	0.06%	–
EXPD	New	Expeditors Intl Wash	$420,000	–	4,308	–	0.05%	–
CDNA	New	CareDx Inc.	$344,000	–	16,036	–	0.04%	–
NTR	New	Nutrien	$331,000	–	4,158	–	0.04%	–
KMB	New	Kimberly Clark	$268,000	–	1,986	–	0.03%	–
SHW	New	Sherwin Williams Co	$269,000	–	1,200	–	0.03%	–
GLW	New	Corning Inc.	$266,000	–	8,450	–	0.03%	–
MRK	New	Merck & Co.	$255,000	–	2,795	–	0.03%	–
DAR	New	Darling Ingredients Inc	$243,000	–	4,070	–	0.03%	–
RTX	New	Raytheon Tech	$249,000	–	2,590	–	0.03%	–
WMT	New	Wal-Mart Stores, Inc	$248,000	–	2,037	–	0.03%	–
IVV	New	Ishares S&P500 Index Fdetf	$237,000	–	625	–	0.03%	–
NVDA	New	Nvidia Corp	$232,000	–	1,528	–	0.03%	–
AMGN	New	Amgen Inc.	$218,000	–	896	–	0.03%	–
CVX	New	Chevron Corp	$217,000	–	1,500	–	0.03%	–

Q4 2021

			Value		Shares		↓ Weighting
MRK	Exit	Merck & Co.	$0	–	-2,795	–	-0.02%	–
RTX	Exit	Raytheon Tech	$0	–	-2,590	–	-0.03%	–
IVV	Exit	Ishares S&P500 Index Fdetf	$0	–	-625	–	-0.03%	–
WMT	Exit	Wal-Mart Stores, Inc	$0	–	-2,037	–	-0.03%	–
DAR	Exit	Darling Ingredients Inc	$0	–	-4,070	–	-0.03%	–
GLW	Exit	Corning Inc.	$0	–	-8,450	–	-0.04%	–
AMGN	Exit	Amgen Inc.	$0	–	-1,512	–	-0.04%	–
KMB	Exit	Kimberly Clark	$0	–	-2,493	–	-0.04%	–
SHW	Exit	Sherwin Williams Co	$0	–	-1,200	–	-0.04%	–
RBA	Exit	Ritchie Bros. Auctioneers	$0	–	-6,100	–	-0.04%	–
HSY	Exit	Hershey Foods	$0	–	-2,430	–	-0.05%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-4,243	–	-0.06%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,362	–	-0.07%	–
EMR	Exit	Emerson Elec	$0	–	-6,484	–	-0.07%	–
TJX	Exit	TJX Companies	$0	–	-9,450	–	-0.07%	–
VTI	Exit	Vanguard Total Stock Mktetf	$0	–	-3,500	–	-0.09%	–
IBM	Exit	IBM	$0	–	-6,527	–	-0.10%	–
SPY	Exit	S&P Depository Receiptsetf	$0	–	-2,301	–	-0.11%	–
CDNA	Exit	CareDx Inc.	$0	–	-16,036	–	-0.12%	–
PFE	Exit	Pfizer Inc	$0	–	-25,079	–	-0.12%	–
LBRDK	Exit	Liberty Broadband Corp Cl C	$0	–	-6,947	–	-0.14%	–
ECL	Exit	Ecolab Inc.	$0	–	-6,445	–	-0.16%	–
	Exit	General Electric	$0	–	-13,302	–	-0.16%	–
DIS	Exit	Walt Disney Co	$0	–	-9,315	–	-0.18%	–
FAST	Exit	Fastenal Co	$0	–	-30,640	–	-0.18%	–
ADSK	Exit	Autodesk Inc	$0	–	-5,677	–	-0.19%	–
FB	Exit	Facebook, Inc.	$0	–	-5,132	–	-0.20%	–
	Exit	Visa	$0	–	-7,907	–	-0.20%	–
BHC	Exit	Bausch Health Cos Inc	$0	–	-65,525	–	-0.21%	–
SCHW	Exit	The Charles Schwab Corp	$0	–	-27,591	–	-0.23%	–
XOM	Exit	ExxonMobile	$0	–	-36,374	–	-0.25%	–
J	Exit	Jacobs Engineering Gp	$0	–	-17,881	–	-0.27%	–
WU	Exit	Western Union	$0	–	-124,971	–	-0.29%	–
AMZN	Exit	Amazon Com Inc.	$0	–	-789	–	-0.30%	–
KMX	Exit	Carmax Inc.	$0	–	-20,601	–	-0.30%	–
PEP	Exit	Pepsico	$0	–	-17,738	–	-0.31%	–
ABBV	Exit	Abbvie Inc	$0	–	-24,758	–	-0.31%	–
MMM	Exit	3M Company	$0	–	-15,901	–	-0.32%	–
WAT	Exit	Waters Corp.	$0	–	-9,549	–	-0.40%	–
ADP	Exit	Automatic Data	$0	–	-17,549	–	-0.41%	–
HD	Exit	Home Depot	$0	–	-10,750	–	-0.41%	–
ABT	Exit	Abbott Labs	$0	–	-30,052	–	-0.41%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-1,737	–	-0.54%	–
MKC	Exit	McCormick & Co	$0	–	-61,424	–	-0.58%	–
MA	Exit	Mastercard Inc	$0	–	-14,666	–	-0.59%	–
UNP	Exit	Union Pacific Corp	$0	–	-41,570	–	-0.94%	–
KO	Exit	Coca-Cola Co	$0	–	-189,335	–	-1.15%	–
AAPL	Exit	Apple Computer	$0	–	-72,568	–	-1.19%	–
APD	Exit	Air Products & Chemicals	$0	–	-41,494	–	-1.23%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-4,836	–	-1.49%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-300,898	–	-1.64%	–
INTC	Exit	Intel Corp	$0	–	-493,705	–	-3.05%	–
MDT	Exit	Medtronic PLC	$0	–	-214,468	–	-3.11%	–
PG	Exit	Procter & Gamble	$0	–	-421,942	–	-6.83%	–
MCO	Exit	Moody's Corp	$0	–	-181,534	–	-7.46%	–
JNJ	Exit	Johnson & Johnson	$0	–	-423,717	–	-7.92%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-354,250	–	-11.20%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-355	–	-16.91%	–
MSFT	Exit	Microsoft	$0	–	-830,573	–	-27.11%	–

Q3 2021

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$234,155,000	+2.8%	830,573	-1.2%	27.11%	+3.6%
BRKA	Sell	Berkshire Hathaway	$146,040,000	-2.5%	355	-0.8%	16.91%	-1.8%
BRKB	Sell	Berkshire Hathaway	$96,689,000	-1.9%	354,250	-0.1%	11.20%	-1.1%
JNJ	Sell	Johnson & Johnson	$68,430,000	-2.2%	423,717	-0.3%	7.92%	-1.5%
MCO	Sell	Moody's Corp	$64,464,000	-2.8%	181,534	-0.8%	7.46%	-2.0%
PG	Buy	Procter & Gamble	$58,988,000	+3.7%	421,942	+0.1%	6.83%	+4.6%
MDT	Sell	Medtronic PLC	$26,884,000	+0.9%	214,468	-0.1%	3.11%	+1.7%
INTC	Sell	Intel Corp	$26,305,000	-5.7%	493,705	-0.6%	3.05%	-5.0%
WBA	Sell	Walgreen Boots Alliance	$14,157,000	-11.4%	300,898	-0.9%	1.64%	-10.7%
GOOG	Buy	Alphabet Inc Cl C	$12,889,000	+6.4%	4,836	+0.1%	1.49%	+7.2%
APD	Sell	Air Products & Chemicals	$10,627,000	-11.0%	41,494	-0.0%	1.23%	-10.3%
AAPL	Buy	Apple Computer	$10,268,000	+3.6%	72,568	+0.3%	1.19%	+4.4%
KO	Sell	Coca-Cola Co	$9,934,000	-4.4%	189,335	-1.4%	1.15%	-3.7%
UNP	Sell	Union Pacific Corp	$8,148,000	-12.4%	41,570	-1.8%	0.94%	-11.8%
MA	Buy	Mastercard Inc	$5,099,000	-3.4%	14,666	+1.4%	0.59%	-2.8%
MKC	Sell	McCormick & Co	$4,977,000	-8.4%	61,424	-0.2%	0.58%	-7.7%
GOOGL	Buy	Alphabet Inc Cl A	$4,645,000	+11.6%	1,737	+1.9%	0.54%	+12.6%
ABT	Buy	Abbott Labs	$3,550,000	+4.0%	30,052	+2.0%	0.41%	+4.8%
HD	Buy	Home Depot	$3,529,000	+3.7%	10,750	+0.7%	0.41%	+4.6%
ADP	Sell	Automatic Data	$3,508,000	-2.4%	17,549	-3.0%	0.41%	-1.7%
WAT	Sell	Waters Corp.	$3,412,000	+2.2%	9,549	-1.2%	0.40%	+2.9%
MMM	Buy	3M Company	$2,789,000	-11.1%	15,901	+0.7%	0.32%	-10.3%
ABBV	Buy	Abbvie Inc	$2,671,000	-1.8%	24,758	+2.5%	0.31%	-1.3%
PEP	Sell	Pepsico	$2,668,000	-0.3%	17,738	-1.7%	0.31%	+0.7%
AMZN	Buy	Amazon Com Inc.	$2,592,000	-3.0%	789	+1.5%	0.30%	-2.3%
WU	Sell	Western Union	$2,527,000	-16.5%	124,971	-5.1%	0.29%	-15.8%
XOM	Buy	ExxonMobile	$2,140,000	+18.6%	36,374	+27.2%	0.25%	+19.8%
	Buy	Visa	$1,761,000	-4.0%	7,907	+0.8%	0.20%	-3.3%
ADSK	Buy	Autodesk Inc	$1,619,000	+15.6%	5,677	+18.3%	0.19%	+16.1%
FAST	Buy	Fastenal Co	$1,581,000	-0.6%	30,640	+0.2%	0.18%	0.0%
	New	General Electric	$1,371,000	–	13,302	–	0.16%	–
ECL	Sell	Ecolab Inc.	$1,345,000	-11.0%	6,445	-12.1%	0.16%	-10.3%
PFE	Buy	Pfizer Inc	$1,079,000	+11.4%	25,079	+1.3%	0.12%	+12.6%
SPY	Buy	S&P Depository Receiptsetf	$987,000	+135.0%	2,301	+134.6%	0.11%	+137.5%
VTI	Sell	Vanguard Total Stock Mktetf	$777,000	-11.1%	3,500	-10.7%	0.09%	-10.0%
TJX	Buy	TJX Companies	$624,000	-1.6%	9,450	+0.5%	0.07%	-1.4%
COST	Sell	Costco Wholesale Corp	$612,000	-12.2%	1,362	-22.7%	0.07%	-11.2%
EXPD	Sell	Expeditors Intl Wash	$505,000	-9.2%	4,243	-3.4%	0.06%	-9.4%
MRK	New	Merck & Co.	$210,000	–	2,795	–	0.02%	–
	Exit	Paypal	$0	–	-755	–	-0.02%	–
HEI	Exit	Heico	$0	–	-1,900	–	-0.03%	–
GE	Exit	General Electric	$0	–	-106,439	–	-0.16%	–

Q2 2021

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$227,738,000	–	840,671	–	26.16%	–
BRKA	New	Berkshire Hathaway	$149,859,000	–	358	–	17.22%	–
BRKB	New	Berkshire Hathaway	$98,573,000	–	354,680	–	11.32%	–
JNJ	New	Johnson & Johnson	$70,000,000	–	424,911	–	8.04%	–
MCO	New	Moody's Corp	$66,332,000	–	183,050	–	7.62%	–
PG	New	Procter & Gamble	$56,859,000	–	421,397	–	6.53%	–
INTC	New	Intel Corp	$27,897,000	–	496,924	–	3.20%	–
MDT	New	Medtronic PLC	$26,636,000	–	214,582	–	3.06%	–
WBA	New	Walgreen Boots Alliance	$15,980,000	–	303,752	–	1.84%	–
GOOG	New	Alphabet Inc Cl C	$12,113,000	–	4,833	–	1.39%	–
APD	New	Air Products & Chemicals	$11,940,000	–	41,504	–	1.37%	–
KO	New	Coca-Cola Co	$10,391,000	–	192,030	–	1.19%	–
AAPL	New	Apple Computer	$9,913,000	–	72,381	–	1.14%	–
UNP	New	Union Pacific Corp	$9,306,000	–	42,315	–	1.07%	–
MKC	New	McCormick & Co	$5,436,000	–	61,554	–	0.62%	–
MA	New	Mastercard Inc	$5,280,000	–	14,461	–	0.61%	–
GOOGL	New	Alphabet Inc Cl A	$4,163,000	–	1,705	–	0.48%	–
ADP	New	Automatic Data	$3,595,000	–	18,099	–	0.41%	–
ABT	New	Abbott Labs	$3,414,000	–	29,452	–	0.39%	–
HD	New	Home Depot	$3,404,000	–	10,674	–	0.39%	–
WAT	New	Waters Corp.	$3,340,000	–	9,664	–	0.38%	–
MMM	New	3M Company	$3,137,000	–	15,791	–	0.36%	–
WU	New	Western Union	$3,025,000	–	131,678	–	0.35%	–
ABBV	New	Abbvie Inc	$2,721,000	–	24,158	–	0.31%	–
AMZN	New	Amazon Com Inc.	$2,673,000	–	777	–	0.31%	–
PEP	New	Pepsico	$2,675,000	–	18,053	–	0.31%	–
KMX	New	Carmax Inc.	$2,661,000	–	20,601	–	0.31%	–
J	New	Jacobs Engineering Gp	$2,386,000	–	17,881	–	0.27%	–
SCHW	New	The Charles Schwab Corp	$2,009,000	–	27,591	–	0.23%	–
BHC	New	Bausch Health Cos Inc	$1,921,000	–	65,525	–	0.22%	–
	New	Visa	$1,835,000	–	7,847	–	0.21%	–
XOM	New	ExxonMobile	$1,805,000	–	28,607	–	0.21%	–
FB	New	Facebook, Inc.	$1,784,000	–	5,132	–	0.20%	–
DIS	New	Walt Disney Co	$1,637,000	–	9,315	–	0.19%	–
FAST	New	Fastenal Co	$1,591,000	–	30,590	–	0.18%	–
ECL	New	Ecolab Inc.	$1,511,000	–	7,335	–	0.17%	–
CDNA	New	CareDx Inc.	$1,468,000	–	16,036	–	0.17%	–
GE	New	General Electric	$1,433,000	–	106,439	–	0.16%	–
ADSK	New	Autodesk Inc	$1,400,000	–	4,797	–	0.16%	–
LBRDK	New	Liberty Broadband Corp Cl C	$1,206,000	–	6,947	–	0.14%	–
PFE	New	Pfizer Inc	$969,000	–	24,754	–	0.11%	–
IBM	New	IBM	$957,000	–	6,527	–	0.11%	–
VTI	New	Vanguard Total Stock Mktetf	$874,000	–	3,921	–	0.10%	–
COST	New	Costco Wholesale Corp	$697,000	–	1,762	–	0.08%	–
TJX	New	TJX Companies	$634,000	–	9,400	–	0.07%	–
EMR	New	Emerson Elec	$624,000	–	6,484	–	0.07%	–
EXPD	New	Expeditors Intl Wash	$556,000	–	4,393	–	0.06%	–
HSY	New	Hershey Foods	$423,000	–	2,430	–	0.05%	–
SPY	New	S&P Depository Receiptsetf	$420,000	–	981	–	0.05%	–
AMGN	New	Amgen Inc.	$369,000	–	1,512	–	0.04%	–
RBA	New	Ritchie Bros. Auctioneers	$362,000	–	6,100	–	0.04%	–
GLW	New	Corning Inc.	$346,000	–	8,450	–	0.04%	–
KMB	New	Kimberly Clark	$334,000	–	2,493	–	0.04%	–
SHW	New	Sherwin Williams Co	$327,000	–	1,200	–	0.04%	–
WMT	New	Wal-Mart Stores, Inc	$287,000	–	2,037	–	0.03%	–
DAR	New	Darling Ingredients Inc	$275,000	–	4,070	–	0.03%	–
IVV	New	Ishares S&P500 Index Fdetf	$269,000	–	625	–	0.03%	–
HEI	New	Heico	$264,000	–	1,900	–	0.03%	–
	New	Paypal	$220,000	–	755	–	0.02%	–
RTX	New	Raytheon Tech	$221,000	–	2,590	–	0.02%	–

Q4 2020

			Value		Shares		↓ Weighting
MRK	Exit	Merch & Company	$0	–	-2,545	–	-0.03%	–
SHW	Exit	Sherwin Williams Co	$0	–	-300	–	-0.03%	–
IVV	Exit	Ishares S&P500 Index Fdetf	$0	–	-775	–	-0.04%	–
GLW	Exit	Corning Inc.	$0	–	-8,450	–	-0.04%	–
SPY	Exit	S&P Depository Receiptsetf	$0	–	-851	–	-0.04%	–
WMT	Exit	Wal-Mart Stores, Inc	$0	–	-2,160	–	-0.04%	–
	Exit	Paypal	$0	–	-1,630	–	-0.04%	–
RBA	Exit	Ritchie Bros. Auctioneers	$0	–	-5,460	–	-0.04%	–
HSY	Exit	Hershey Foods	$0	–	-2,430	–	-0.05%	–
KMB	Exit	Kimberly Clark	$0	–	-2,493	–	-0.05%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-4,393	–	-0.06%	–
EMR	Exit	Emerson Elec	$0	–	-7,384	–	-0.07%	–
TJX	Exit	TJX Companies	$0	–	-9,166	–	-0.07%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,662	–	-0.08%	–
CDNA	Exit	CareDx Inc.	$0	–	-16,036	–	-0.08%	–
VTI	Exit	Vanguard Total Stock Mktetf	$0	–	-3,921	–	-0.09%	–
ECL	Exit	Ecolab Inc.	$0	–	-3,528	–	-0.10%	–
AMGN	Exit	Amgen Inc.	$0	–	-2,841	–	-0.10%	–
IBM	Exit	IBM	$0	–	-6,527	–	-0.11%	–
GE	Exit	General Electric	$0	–	-131,696	–	-0.11%	–
PFE	Exit	Pfizer Inc	$0	–	-24,654	–	-0.12%	–
SCHW	Exit	The Charles Schwab Corp	$0	–	-27,591	–	-0.14%	–
XOM	Exit	ExxonMobile	$0	–	-32,050	–	-0.15%	–
BHC	Exit	Bausch Health Cos Inc	$0	–	-73,875	–	-0.16%	–
DIS	Exit	Walt Disney Co	$0	–	-9,295	–	-0.16%	–
FAST	Exit	Fastenal Co	$0	–	-27,435	–	-0.17%	–
LBRDK	Exit	Liberty Broadband Corp Cl C	$0	–	-9,947	–	-0.20%	–
	Exit	Visa	$0	–	-7,520	–	-0.21%	–
WAT	Exit	Waters Corp.	$0	–	-8,349	–	-0.23%	–
J	Exit	Jacobs Engineering Gp	$0	–	-17,881	–	-0.23%	–
KMX	Exit	Carmax Inc.	$0	–	-20,601	–	-0.26%	–
FB	Exit	Facebook, Inc.	$0	–	-7,552	–	-0.27%	–
ABBV	Exit	Abbvie Inc	$0	–	-24,208	–	-0.29%	–
AMZN	Exit	Amazon Com Inc.	$0	–	-766	–	-0.33%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-1,698	–	-0.34%	–
PEP	Exit	Pepsico	$0	–	-18,259	–	-0.35%	–
ADP	Exit	Automatic Data	$0	–	-18,789	–	-0.36%	–
MMM	Exit	3M Company	$0	–	-17,009	–	-0.38%	–
HD	Exit	Home Depot	$0	–	-10,634	–	-0.41%	–
WU	Exit	Western Union	$0	–	-139,393	–	-0.41%	–
ABT	Exit	Abbott Labs	$0	–	-29,852	–	-0.45%	–
MA	Exit	Mastercard Inc	$0	–	-14,304	–	-0.67%	–
MKC	Exit	McCormick & Co	$0	–	-27,582	–	-0.74%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-4,468	–	-0.91%	–
AAPL	Exit	Apple Computer	$0	–	-67,783	–	-1.09%	–
UNP	Exit	Union Pacific Corp	$0	–	-41,120	–	-1.12%	–
KO	Exit	Coca-Cola Co	$0	–	-215,155	–	-1.47%	–
APD	Exit	Air Products & Chemicals	$0	–	-39,356	–	-1.62%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-341,871	–	-1.70%	–
MDT	Exit	Medtronic PLC	$0	–	-213,507	–	-3.08%	–
INTC	Exit	Intel Corp	$0	–	-500,968	–	-3.60%	–
MCO	Exit	Moody's Corp	$0	–	-192,925	–	-7.75%	–
PG	Exit	Procter & Gamble	$0	–	-418,153	–	-8.06%	–
JNJ	Exit	Johnson & Johnson	$0	–	-429,942	–	-8.87%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-369,523	–	-10.90%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-361	–	-16.01%	–
MSFT	Exit	Microsoft	$0	–	-874,534	–	-25.49%	–

Q3 2020

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$183,941,000	+2.9%	874,534	-0.5%	25.49%	-4.8%
BRKA	Sell	Berkshire Hathaway	$115,520,000	+18.4%	361	-1.1%	16.01%	+9.5%
BRKB	Sell	Berkshire Hathaway	$78,686,000	+17.8%	369,523	-1.2%	10.90%	+9.0%
JNJ	Sell	Johnson & Johnson	$64,010,000	+5.1%	429,942	-0.8%	8.87%	-2.8%
PG	Sell	Procter & Gamble	$58,119,000	+15.2%	418,153	-0.9%	8.06%	+6.6%
MCO	Sell	Moody's Corp	$55,919,000	+5.3%	192,925	-0.2%	7.75%	-2.6%
INTC	Sell	Intel Corp	$25,940,000	-13.9%	500,968	-0.5%	3.60%	-20.3%
MDT	Sell	Medtronic PLC	$22,188,000	+12.2%	213,507	-1.0%	3.08%	+3.8%
WBA	Sell	Walgreen Boots Alliance	$12,280,000	-18.8%	341,871	-4.2%	1.70%	-24.9%
APD	Buy	Air Products & Chemicals	$11,722,000	+23.9%	39,356	+0.5%	1.62%	+14.7%
KO	Sell	Coca-Cola Co	$10,622,000	+10.5%	215,155	-0.0%	1.47%	+2.2%
UNP	Buy	Union Pacific Corp	$8,095,000	+17.2%	41,120	+0.7%	1.12%	+8.5%
AAPL	Buy	Apple Computer	$7,850,000	+26.8%	67,783	+299.4%	1.09%	+17.4%
GOOG	Buy	Alphabet Inc Cl C	$6,566,000	+6.3%	4,468	+2.3%	0.91%	-1.6%
MKC	Buy	McCormick & Co	$5,354,000	+10.8%	27,582	+2.5%	0.74%	+2.5%
MA	Buy	Mastercard Inc	$4,837,000	+14.9%	14,304	+0.5%	0.67%	+6.3%
WU	Sell	Western Union	$2,987,000	-4.0%	139,393	-3.2%	0.41%	-11.2%
MMM	Sell	3M Company	$2,725,000	-3.4%	17,009	-5.9%	0.38%	-10.4%
ADP	Buy	Automatic Data	$2,621,000	-5.7%	18,789	+0.7%	0.36%	-12.7%
PEP	Sell	Pepsico	$2,531,000	+3.9%	18,259	-0.9%	0.35%	-3.8%
GOOGL	Buy	Alphabet Inc Cl A	$2,489,000	+3.8%	1,698	+0.4%	0.34%	-3.9%
AMZN	Buy	Amazon Com Inc.	$2,412,000	+15.4%	766	+1.1%	0.33%	+6.7%
ABBV	Buy	Abbvie Inc	$2,120,000	-10.3%	24,208	+0.6%	0.29%	-16.9%
WAT	Buy	Waters Corp.	$1,634,000	+9.5%	8,349	+1.0%	0.23%	+0.9%
	Buy	Visa	$1,504,000	+5.9%	7,520	+2.3%	0.21%	-2.3%
FAST	Buy	Fastenal Co	$1,237,000	+5.4%	27,435	+0.1%	0.17%	-2.8%
XOM	Sell	ExxonMobile	$1,100,000	-23.6%	32,050	-0.4%	0.15%	-29.6%
GE	Buy	General Electric	$820,000	-8.6%	131,696	+0.2%	0.11%	-14.9%
ECL	Buy	Ecolab Inc.	$705,000	+46.0%	3,528	+45.2%	0.10%	+36.1%
COST	Buy	Costco Wholesale Corp	$590,000	+23.4%	1,662	+5.5%	0.08%	+13.9%
TJX	Buy	TJX Companies	$510,000	+11.6%	9,166	+1.5%	0.07%	+4.4%
RBA	Sell	Ritchie Bros. Auctioneers	$324,000	+26.6%	5,460	-12.8%	0.04%	+18.4%
WMT	Buy	Wal-Mart Stores, Inc	$302,000	+31.9%	2,160	+12.9%	0.04%	+23.5%
MRK	New	Merch & Company	$211,000	–	2,545	–	0.03%	–
SHW	New	Sherwin Williams Co	$209,000	–	300	–	0.03%	–
TIF	Exit	Tiffany & Co	$0	–	-1,700	–	-0.03%	–

Q2 2020

			Value		Shares		↓ Weighting
MSFT	New	Microsoft	$178,842,000	–	878,789	–	26.79%	–
BRKA	New	Berkshire Hathaway	$97,565,000	–	365	–	14.62%	–
BRKB	New	Berkshire Hathaway	$66,786,000	–	374,131	–	10.00%	–
JNJ	New	Johnson & Johnson	$60,932,000	–	433,275	–	9.13%	–
MCO	New	Moody's Corp	$53,103,000	–	193,291	–	7.96%	–
PG	New	Procter & Gamble	$50,449,000	–	421,920	–	7.56%	–
INTC	New	Intel Corp	$30,113,000	–	503,317	–	4.51%	–
MDT	New	Medtronic PLC	$19,775,000	–	215,646	–	2.96%	–
WBA	New	Walgreen Boots Alliance	$15,131,000	–	356,953	–	2.27%	–
KO	New	Coca-Cola Co	$9,614,000	–	215,179	–	1.44%	–
APD	New	Air Products & Chemicals	$9,459,000	–	39,176	–	1.42%	–
UNP	New	Union Pacific Corp	$6,905,000	–	40,839	–	1.03%	–
AAPL	New	Apple Computer	$6,191,000	–	16,971	–	0.93%	–
GOOG	New	Alphabet Inc Cl C	$6,175,000	–	4,368	–	0.92%	–
MKC	New	McCormick & Co	$4,830,000	–	26,919	–	0.72%	–
MA	New	Mastercard Inc	$4,208,000	–	14,229	–	0.63%	–
WU	New	Western Union	$3,113,000	–	143,973	–	0.47%	–
MMM	New	3M Company	$2,820,000	–	18,077	–	0.42%	–
ADP	New	Automatic Data	$2,778,000	–	18,659	–	0.42%	–
ABT	New	Abbott Labs	$2,729,000	–	29,852	–	0.41%	–
HD	New	Home Depot	$2,664,000	–	10,634	–	0.40%	–
PEP	New	Pepsico	$2,437,000	–	18,429	–	0.36%	–
GOOGL	New	Alphabet Inc Cl A	$2,399,000	–	1,692	–	0.36%	–
ABBV	New	Abbvie Inc	$2,363,000	–	24,066	–	0.35%	–
AMZN	New	Amazon Com Inc.	$2,091,000	–	758	–	0.31%	–
KMX	New	Carmax Inc.	$1,845,000	–	20,601	–	0.28%	–
FB	New	Facebook, Inc.	$1,715,000	–	7,552	–	0.26%	–
J	New	Jacobs Engineering Gp	$1,516,000	–	17,881	–	0.23%	–
WAT	New	Waters Corp.	$1,492,000	–	8,269	–	0.22%	–
XOM	New	ExxonMobile	$1,439,000	–	32,170	–	0.22%	–
	New	Visa	$1,420,000	–	7,349	–	0.21%	–
BHC	New	Bausch Health Cos Inc	$1,351,000	–	73,875	–	0.20%	–
LBRDK	New	Liberty Broadband Corp Cl C	$1,233,000	–	9,947	–	0.18%	–
FAST	New	Fastenal Co	$1,174,000	–	27,395	–	0.18%	–
DIS	New	Walt Disney Co	$1,036,000	–	9,295	–	0.16%	–
SCHW	New	The Charles Schwab Corp	$931,000	–	27,591	–	0.14%	–
GE	New	General Electric	$897,000	–	131,396	–	0.13%	–
PFE	New	Pfizer Inc	$806,000	–	24,654	–	0.12%	–
IBM	New	IBM	$788,000	–	6,527	–	0.12%	–
AMGN	New	Amgen Inc.	$670,000	–	2,841	–	0.10%	–
VTI	New	Vanguard Total Stock Mktetf	$614,000	–	3,921	–	0.09%	–
CDNA	New	CareDx Inc.	$568,000	–	16,036	–	0.08%	–
COST	New	Costco Wholesale Corp	$478,000	–	1,576	–	0.07%	–
ECL	New	Ecolab Inc.	$483,000	–	2,430	–	0.07%	–
EMR	New	Emerson Elec	$458,000	–	7,384	–	0.07%	–
TJX	New	TJX Companies	$457,000	–	9,030	–	0.07%	–
KMB	New	Kimberly Clark	$352,000	–	2,493	–	0.05%	–
EXPD	New	Expeditors Intl Wash	$334,000	–	4,393	–	0.05%	–
HSY	New	Hershey Foods	$315,000	–	2,430	–	0.05%	–
	New	Paypal	$284,000	–	1,630	–	0.04%	–
SPY	New	S&P Depository Receiptsetf	$262,000	–	851	–	0.04%	–
RBA	New	Ritchie Bros. Auctioneers	$256,000	–	6,260	–	0.04%	–
IVV	New	Ishares S&P500 Index Fdetf	$240,000	–	775	–	0.04%	–
WMT	New	Wal-Mart Stores, Inc	$229,000	–	1,914	–	0.03%	–
GLW	New	Corning Inc.	$219,000	–	8,450	–	0.03%	–
TIF	New	Tiffany & Co	$207,000	–	1,700	–	0.03%	–

Q4 2019

			Value		Shares		↓ Weighting
BE	Exit	Bloom Energy Corp	$0	–	-58,175	–	-0.03%	–
	Exit	Paypal Holdings	$0	–	-1,880	–	-0.04%	–
WMT	Exit	Wal-Mart Stores, Inc	$0	–	-1,914	–	-0.04%	–
ECL	Exit	Ecolab Inc	$0	–	-1,175	–	-0.04%	–
CDK	Exit	CDK Global Inc	$0	–	-5,086	–	-0.04%	–
RBA	Exit	Ritchie Bros. Auctioneers	$0	–	-6,110	–	-0.04%	–
GLW	Exit	Corning Inc.	$0	–	-8,450	–	-0.04%	–
IVV	Exit	Ishares S&P500 Index Fdetf	$0	–	-965	–	-0.05%	–
SPY	Exit	S&P Depository Receiptsetf	$0	–	-1,101	–	-0.05%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-4,642	–	-0.06%	–
KMB	Exit	Kimberly Clark	$0	–	-2,493	–	-0.06%	–
CDNA	Exit	CareDx Inc.	$0	–	-16,036	–	-0.06%	–
HSY	Exit	Hershey Foods	$0	–	-2,430	–	-0.06%	–
PFE	Exit	Pfizer Inc	$0	–	-11,031	–	-0.06%	–
UTX	Exit	United Technologies	$0	–	-3,282	–	-0.07%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,626	–	-0.08%	–
TJX	Exit	TJX Companies	$0	–	-8,525	–	-0.08%	–
EMR	Exit	Emerson Elec	$0	–	-7,384	–	-0.08%	–
AMGN	Exit	Amgen Inc.	$0	–	-2,971	–	-0.09%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-476	–	-0.10%	–
VTI	Exit	Vanguard Total Stock Mktetf	$0	–	-3,921	–	-0.10%	–
	Exit	Visa	$0	–	-3,498	–	-0.10%	–
FAST	Exit	Fastenal Co	$0	–	-28,030	–	-0.15%	–
IBM	Exit	IBM	$0	–	-6,554	–	-0.16%	–
GE	Exit	General Electric	$0	–	-131,396	–	-0.19%	–
DIS	Exit	Walt Disney Co	$0	–	-9,305	–	-0.20%	–
BHC	Exit	Bausch Health Cos Inc	$0	–	-75,305	–	-0.27%	–
WAT	Exit	Waters Corp.	$0	–	-8,099	–	-0.30%	–
ABBV	Exit	Abbvie Inc	$0	–	-24,441	–	-0.30%	–
ABT	Exit	Abbott Labs	$0	–	-30,227	–	-0.42%	–
PEP	Exit	Pepsico	$0	–	-18,852	–	-0.42%	–
XOM	Exit	ExxonMobile	$0	–	-36,839	–	-0.43%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-2,140	–	-0.43%	–
MA	Exit	Mastercard Inc	$0	–	-10,191	–	-0.45%	–
MMM	Exit	3M Company	$0	–	-18,077	–	-0.49%	–
ADP	Exit	Automatic Data	$0	–	-19,381	–	-0.51%	–
MKC	Exit	McCormick & Co	$0	–	-21,009	–	-0.54%	–
WU	Exit	Western Union	$0	–	-155,473	–	-0.59%	–
AAPL	Exit	Apple Computer	$0	–	-16,461	–	-0.60%	–
UNP	Exit	Union Pacific Corp	$0	–	-38,854	–	-1.03%	–
APD	Exit	Air Products & Chemicals	$0	–	-35,600	–	-1.30%	–
KO	Exit	Coca-Cola Co	$0	–	-232,342	–	-2.08%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-396,712	–	-3.60%	–
MDT	Exit	Medtronic PLC	$0	–	-214,168	–	-3.82%	–
INTC	Exit	Intel Corp	$0	–	-521,282	–	-4.41%	–
MCO	Exit	Moody's Corp	$0	–	-195,664	–	-6.58%	–
PG	Exit	Procter & Gamble	$0	–	-411,246	–	-8.39%	–
JNJ	Exit	Johnson & Johnson	$0	–	-432,087	–	-9.17%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-345,919	–	-11.80%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-378	–	-19.34%	–
MSFT	Exit	Microsoft	$0	–	-906,726	–	-20.68%	–

Q3 2019

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft	$126,062,000	+2.5%	906,726	-1.2%	20.68%	+23.0%
BRKA	Sell	Berkshire Hathaway	$117,872,000	-3.6%	378	-1.6%	19.34%	+15.7%
BRKB	Buy	Berkshire Hathaway	$71,958,000	-1.6%	345,919	+0.9%	11.80%	+18.1%
JNJ	Sell	Johnson & Johnson	$55,903,000	-7.6%	432,087	-0.5%	9.17%	+10.9%
PG	Sell	Procter & Gamble	$51,151,000	+13.0%	411,246	-0.4%	8.39%	+35.6%
MCO	Sell	Moody's Corp	$40,078,000	+3.7%	195,664	-1.2%	6.58%	+24.4%
INTC	Buy	Intel Corp	$26,862,000	+8.0%	521,282	+0.3%	4.41%	+29.5%
MDT	Buy	Medtronic PLC	$23,263,000	+12.4%	214,168	+0.7%	3.82%	+34.9%
WBA	Sell	Walgreen Boots Alliance	$21,942,000	+0.9%	396,712	-0.2%	3.60%	+21.1%
KO	Sell	Coca-Cola Co	$12,649,000	+4.0%	232,342	-2.7%	2.08%	+24.8%
APD	Buy	Air Products & Chemicals	$7,898,000	+1.2%	35,600	+3.2%	1.30%	+21.5%
UNP	Buy	Union Pacific Corp	$6,293,000	-2.1%	38,854	+2.2%	1.03%	+17.4%
AAPL	Buy	Apple Computer	$3,687,000	+13.2%	16,461	+0.1%	0.60%	+36.0%
WU	Sell	Western Union	$3,602,000	+15.7%	155,473	-0.6%	0.59%	+39.1%
MKC	Buy	McCormick & Co	$3,284,000	+3.2%	21,009	+2.4%	0.54%	+23.9%
ADP	Sell	Automatic Data	$3,129,000	-12.5%	19,381	-10.5%	0.51%	+4.9%
MMM	Sell	3M Company	$2,972,000	-20.7%	18,077	-16.4%	0.49%	-4.7%
MA	Buy	Mastercard Inc	$2,768,000	+3.4%	10,191	+0.7%	0.45%	+24.0%
GOOG	Buy	Alphabet Inc Cl C	$2,609,000	+13.0%	2,140	+0.2%	0.43%	+35.4%
XOM	Sell	ExxonMobile	$2,601,000	-25.7%	36,839	-19.4%	0.43%	-10.9%
WAT	Sell	Waters Corp.	$1,808,000	-1.1%	8,099	-4.7%	0.30%	+18.8%
GE	Sell	General Electric	$1,175,000	-21.5%	131,396	-7.8%	0.19%	-5.9%
IBM	Sell	IBM	$953,000	-2.1%	6,554	-7.1%	0.16%	+17.3%
FAST	Sell	Fastenal Co	$916,000	-1.9%	28,030	-2.2%	0.15%	+17.2%
EMR	Sell	Emerson Elec	$494,000	-28.7%	7,384	-28.9%	0.08%	-14.7%
UTX	Sell	United Technologies	$448,000	-4.7%	3,282	-9.0%	0.07%	+14.1%
EXPD	Sell	Expeditors Intl Wash	$345,000	-11.5%	4,642	-9.7%	0.06%	+7.5%
IVV	Sell	Ishares S&P500 Index Fdetf	$288,000	-5.3%	965	-6.4%	0.05%	+11.9%
RBA	Sell	Ritchie Bros. Auctioneers	$244,000	+9.9%	6,110	-8.6%	0.04%	+33.3%
CDK	Sell	CDK Global Inc	$245,000	-13.7%	5,086	-11.6%	0.04%	+2.6%
ECL	Sell	Ecolab Inc	$233,000	-4.5%	1,175	-5.1%	0.04%	+15.2%
SM	Exit	SM Energy Company	$0	–	-10,000	–	-17.12%	–

Q2 2019

			Value		Shares		↓ Weighting
SM	New	SM Energy Company	$125,200,000	–	10,000	–	17.12%	–
MSFT	New	Microsoft	$122,975,000	–	917,996	–	16.81%	–
BRKA	New	Berkshire Hathaway	$122,246,000	–	384	–	16.71%	–
BRKB	New	Berkshire Hathaway	$73,109,000	–	342,961	–	10.00%	–
JNJ	New	Johnson & Johnson	$60,513,000	–	434,467	–	8.27%	–
PG	New	Procter & Gamble	$45,267,000	–	412,828	–	6.19%	–
MCO	New	Moody's Corp	$38,661,000	–	197,949	–	5.28%	–
INTC	New	Intel Corp	$24,882,000	–	519,775	–	3.40%	–
WBA	New	Walgreen Boots Alliance	$21,738,000	–	397,629	–	2.97%	–
MDT	New	Medtronic PLC	$20,703,000	–	212,583	–	2.83%	–
KO	New	Coca-Cola Co	$12,157,000	–	238,739	–	1.66%	–
APD	New	Air Products & Chemicals	$7,808,000	–	34,490	–	1.07%	–
UNP	New	Union Pacific Corp	$6,430,000	–	38,023	–	0.88%	–
MMM	New	3M Company	$3,748,000	–	21,623	–	0.51%	–
ADP	New	Automatic Data	$3,578,000	–	21,644	–	0.49%	–
XOM	New	ExxonMobile	$3,503,000	–	45,717	–	0.48%	–
AAPL	New	Apple Computer	$3,256,000	–	16,452	–	0.44%	–
MKC	New	McCormick & Co	$3,181,000	–	20,519	–	0.44%	–
WU	New	Western Union	$3,112,000	–	156,473	–	0.42%	–
MA	New	Mastercard Inc	$2,676,000	–	10,116	–	0.37%	–
ABT	New	Abbott Labs	$2,542,000	–	30,227	–	0.35%	–
PEP	New	Pepsico	$2,472,000	–	18,852	–	0.34%	–
GOOG	New	Alphabet Inc Cl C	$2,309,000	–	2,136	–	0.32%	–
BHC	New	Bausch Health Cos Inc	$1,899,000	–	75,305	–	0.26%	–
WAT	New	Waters Corp.	$1,829,000	–	8,499	–	0.25%	–
ABBV	New	Abbvie Inc	$1,777,000	–	24,441	–	0.24%	–
GE	New	General Electric	$1,497,000	–	142,525	–	0.20%	–
DIS	New	Walt Disney Co	$1,299,000	–	9,305	–	0.18%	–
IBM	New	IBM	$973,000	–	7,054	–	0.13%	–
FAST	New	Fastenal Co	$934,000	–	28,655	–	0.13%	–
BE	New	Bloom Energy Corp	$714,000	–	58,175	–	0.10%	–
EMR	New	Emerson Elec	$693,000	–	10,384	–	0.10%	–
	New	Visa	$607,000	–	3,498	–	0.08%	–
VTI	New	Vanguard Total Stock Mktetf	$589,000	–	3,921	–	0.08%	–
CDNA	New	CareDx Inc.	$577,000	–	16,036	–	0.08%	–
AMGN	New	Amgen Inc.	$547,000	–	2,971	–	0.08%	–
GOOGL	New	Alphabet Inc Cl A	$515,000	–	476	–	0.07%	–
PFE	New	Pfizer Inc	$478,000	–	11,031	–	0.06%	–
UTX	New	United Technologies	$470,000	–	3,607	–	0.06%	–
TJX	New	TJX Companies	$451,000	–	8,525	–	0.06%	–
COST	New	Costco Wholesale Corp	$430,000	–	1,626	–	0.06%	–
EXPD	New	Expeditors Intl Wash	$390,000	–	5,142	–	0.05%	–
KMB	New	Kimberly Clark	$332,000	–	2,493	–	0.04%	–
HSY	New	Hershey Foods	$326,000	–	2,430	–	0.04%	–
SPY	New	S&P Depository Receiptsetf	$323,000	–	1,101	–	0.04%	–
IVV	New	Ishares S&P500 Index Fdetf	$304,000	–	1,031	–	0.04%	–
CDK	New	CDK Global Inc	$284,000	–	5,752	–	0.04%	–
GLW	New	Corning Inc.	$281,000	–	8,450	–	0.04%	–
ECL	New	Ecolab Inc	$244,000	–	1,238	–	0.03%	–
RBA	New	Ritchie Bros. Auctioneers	$222,000	–	6,685	–	0.03%	–
WMT	New	Wal-Mart Stores, Inc	$211,000	–	1,914	–	0.03%	–
	New	Paypal Holdings	$215,000	–	1,880	–	0.03%	–

Q4 2018

			Value		Shares		↓ Weighting
AMZN	Exit	Amazon Com Inc	$0	–	-100	–	-0.03%	–
DCI	Exit	Donaldson Company Inc	$0	–	-3,500	–	-0.03%	–
TIF	Exit	Tiffany & Co., Inc.	$0	–	-1,700	–	-0.03%	–
RBA	Exit	Ritchie Bros. Auctioneers	$0	–	-6,235	–	-0.04%	–
IVV	Exit	Ishares S&P500 Index Fdetf	$0	–	-851	–	-0.04%	–
HSY	Exit	Hershey Foods	$0	–	-2,430	–	-0.04%	–
KMB	Exit	Kimberly Clark	$0	–	-2,493	–	-0.04%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,196	–	-0.04%	–
GLW	Exit	Corning Inc.	$0	–	-8,450	–	-0.05%	–
SM	Exit	SM Energy Company	$0	–	-10,000	–	-0.05%	–
SPY	Exit	S&P Depository Receiptsetf	$0	–	-1,081	–	-0.05%	–
HDV	Exit	Ishares Core High Divetf	$0	–	-3,515	–	-0.05%	–
CDK	Exit	CDK Global Inc	$0	–	-5,750	–	-0.06%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-5,142	–	-0.06%	–
PFE	Exit	Pfizer Inc	$0	–	-9,698	–	-0.07%	–
	Exit	Visa	$0	–	-3,313	–	-0.08%	–
VTI	Exit	Vanguard Total Stock Mktetf	$0	–	-3,921	–	-0.09%	–
AMGN	Exit	Amgen Inc.	$0	–	-2,971	–	-0.10%	–
CERN	Exit	Cerner Corp	$0	–	-10,250	–	-0.10%	–
EMR	Exit	Emerson Elec	$0	–	-8,950	–	-0.10%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-576	–	-0.11%	–
AGN	Exit	Allergan Plc	$0	–	-3,690	–	-0.11%	–
ECL	Exit	Ecolab Inc	$0	–	-6,688	–	-0.16%	–
DIS	Exit	Walt Disney Co	$0	–	-9,305	–	-0.17%	–
IBM	Exit	IBM	$0	–	-8,329	–	-0.19%	–
VSM	Exit	Versum Materials Inc	$0	–	-46,384	–	-0.26%	–
GE	Exit	General Electric	$0	–	-150,679	–	-0.26%	–
PEP	Exit	Pepsico	$0	–	-17,649	–	-0.30%	–
UTX	Exit	United Technologies	$0	–	-14,547	–	-0.31%	–
ABT	Exit	Abbott Labs	$0	–	-30,527	–	-0.34%	–
ABBV	Exit	Abbvie Inc	$0	–	-25,241	–	-0.37%	–
BHC	Exit	Bausch Health Cos Inc	$0	–	-92,938	–	-0.37%	–
TJX	Exit	TJX Companies	$0	–	-22,975	–	-0.40%	–
FAST	Exit	Fastenal Co	$0	–	-44,735	–	-0.40%	–
WAT	Exit	Waters Corp.	$0	–	-14,569	–	-0.44%	–
WU	Exit	Western Union	$0	–	-167,351	–	-0.49%	–
MKC	Exit	McCormick & Co	$0	–	-24,819	–	-0.50%	–
ADP	Exit	Automatic Data	$0	–	-22,164	–	-0.51%	–
XOM	Exit	ExxonMobile	$0	–	-45,069	–	-0.59%	–
AAPL	Exit	Apple Computer	$0	–	-19,627	–	-0.68%	–
MMM	Exit	3M Company	$0	–	-21,977	–	-0.71%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-4,397	–	-0.81%	–
MA	Exit	Mastercard Inc	$0	–	-28,701	–	-0.98%	–
APD	Exit	Air Products & Chemicals	$0	–	-39,405	–	-1.01%	–
UNP	Exit	Union Pacific Corp	$0	–	-50,456	–	-1.26%	–
KO	Exit	Coca-Cola Co	$0	–	-246,520	–	-1.75%	–
MDT	Exit	Medtronic PLC	$0	–	-217,262	–	-3.28%	–
INTC	Exit	Intel Corp	$0	–	-566,654	–	-4.11%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-449,977	–	-5.04%	–
MCO	Exit	Moody's Corp	$0	–	-215,928	–	-5.54%	–
PG	Exit	Procter & Gamble	$0	–	-467,966	–	-5.98%	–
JNJ	Exit	Johnson & Johnson	$0	–	-496,872	–	-10.54%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-344,908	–	-11.34%	–
MSFT	Exit	Microsoft	$0	–	-1,045,397	–	-18.36%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-432	–	-21.22%	–

Q3 2018

			Value		Shares		↓ Weighting
BRKA	Sell	Berkshire Hathaway	$138,240,000	+11.9%	432	-1.4%	21.22%	+0.7%
MSFT	Sell	Microsoft	$119,562,000	+13.8%	1,045,397	-1.9%	18.36%	+2.5%
BRKB	Buy	Berkshire Hathaway	$73,848,000	+14.9%	344,908	+0.1%	11.34%	+3.4%
JNJ	Sell	Johnson & Johnson	$68,653,000	+12.3%	496,872	-1.3%	10.54%	+1.1%
PG	Sell	Procter & Gamble	$38,949,000	+5.8%	467,966	-0.8%	5.98%	-4.7%
MCO	Buy	Moody's Corp	$36,103,000	-1.3%	215,928	+0.7%	5.54%	-11.2%
WBA	Sell	Walgreen Boots Alliance	$32,803,000	+20.8%	449,977	-0.5%	5.04%	+8.8%
INTC	Buy	Intel Corp	$26,797,000	-1.7%	566,654	+3.3%	4.11%	-11.5%
MDT	Buy	Medtronic PLC	$21,372,000	+20.5%	217,262	+4.8%	3.28%	+8.5%
KO	Sell	Coca-Cola Co	$11,387,000	+4.0%	246,520	-1.2%	1.75%	-6.3%
UNP	Buy	Union Pacific Corp	$8,216,000	+25.1%	50,456	+8.8%	1.26%	+12.6%
APD	Buy	Air Products & Chemicals	$6,583,000	+17.1%	39,405	+9.1%	1.01%	+5.4%
MA	Buy	Mastercard Inc	$6,389,000	+13.6%	28,701	+0.3%	0.98%	+2.3%
GOOG	Buy	Alphabet Inc Cl C	$5,248,000	+7.8%	4,397	+0.7%	0.81%	-2.9%
AAPL	Sell	Apple Computer	$4,431,000	+21.9%	19,627	-0.1%	0.68%	+9.7%
MKC	Buy	McCormick & Co	$3,270,000	+14.9%	24,819	+1.2%	0.50%	+3.5%
WU	Sell	Western Union	$3,190,000	-7.1%	167,351	-0.9%	0.49%	-16.4%
WAT	Buy	Waters Corp.	$2,836,000	+2.3%	14,569	+1.7%	0.44%	-8.0%
BHC	New	Bausch Health Cos Inc	$2,386,000	–	92,938	–	0.37%	–
UTX	Buy	United Technologies	$2,034,000	+21.4%	14,547	+8.6%	0.31%	+9.1%
VSM	Buy	Versum Materials Inc	$1,670,000	-0.5%	46,384	+2.6%	0.26%	-10.5%
GOOGL	Buy	Alphabet Inc Cl A	$695,000	+31.9%	576	+23.3%	0.11%	+18.9%
IVV	New	Ishares S&P500 Index Fdetf	$249,000	–	851	–	0.04%	–
HSY	Buy	Hershey Foods	$248,000	+10.2%	2,430	+0.6%	0.04%	0.0%
AMZN	New	Amazon Com Inc	$200,000	–	100	–	0.03%	–
DCI	New	Donaldson Company Inc	$204,000	–	3,500	–	0.03%	–
SRCL	Exit	Stericycle Inc.	$0	–	-18,055	–	-0.20%	–
VRX	Exit	Valeant Pharmaceuticals	$0	–	-92,938	–	-0.37%	–

Q2 2018

			Value		Shares		↓ Weighting
BRKA	New	Berkshire Hathaway	$123,533,000	–	438	–	21.07%	–
MSFT	New	Microsoft	$105,040,000	–	1,065,202	–	17.91%	–
BRKB	New	Berkshire Hathaway	$64,287,000	–	344,423	–	10.96%	–
JNJ	New	Johnson & Johnson	$61,114,000	–	503,662	–	10.42%	–
PG	New	Procter & Gamble	$36,812,000	–	471,588	–	6.28%	–
MCO	New	Moody's Corp	$36,580,000	–	214,471	–	6.24%	–
INTC	New	Intel Corp	$27,257,000	–	548,324	–	4.65%	–
WBA	New	Walgreen Boots Alliance	$27,148,000	–	452,352	–	4.63%	–
MDT	New	Medtronic PLC	$17,740,000	–	207,217	–	3.02%	–
KO	New	Coca-Cola Co	$10,945,000	–	249,545	–	1.87%	–
UNP	New	Union Pacific Corp	$6,570,000	–	46,371	–	1.12%	–
MA	New	Mastercard Inc	$5,626,000	–	28,626	–	0.96%	–
APD	New	Air Products & Chemicals	$5,623,000	–	36,110	–	0.96%	–
GOOG	New	Alphabet Inc Cl C	$4,870,000	–	4,365	–	0.83%	–
MMM	New	3M Company	$4,323,000	–	21,977	–	0.74%	–
XOM	New	ExxonMobile	$3,729,000	–	45,069	–	0.64%	–
AAPL	New	Apple Computer	$3,636,000	–	19,644	–	0.62%	–
WU	New	Western Union	$3,435,000	–	168,951	–	0.59%	–
ADP	New	Automatic Data	$2,973,000	–	22,164	–	0.51%	–
MKC	New	McCormick & Co	$2,846,000	–	24,519	–	0.48%	–
WAT	New	Waters Corp.	$2,772,000	–	14,319	–	0.47%	–
ABBV	New	Abbvie Inc	$2,339,000	–	25,241	–	0.40%	–
TJX	New	TJX Companies	$2,187,000	–	22,975	–	0.37%	–
VRX	New	Valeant Pharmaceuticals	$2,160,000	–	92,938	–	0.37%	–
FAST	New	Fastenal Co	$2,153,000	–	44,735	–	0.37%	–
GE	New	General Electric	$2,051,000	–	150,679	–	0.35%	–
PEP	New	Pepsico	$1,921,000	–	17,649	–	0.33%	–
ABT	New	Abbott Labs	$1,862,000	–	30,527	–	0.32%	–
VSM	New	Versum Materials Inc	$1,679,000	–	45,189	–	0.29%	–
UTX	New	United Technologies	$1,675,000	–	13,397	–	0.29%	–
SRCL	New	Stericycle Inc.	$1,179,000	–	18,055	–	0.20%	–
IBM	New	IBM	$1,164,000	–	8,329	–	0.20%	–
DIS	New	Walt Disney Co	$975,000	–	9,305	–	0.17%	–
ECL	New	Ecolab Inc	$939,000	–	6,688	–	0.16%	–
EMR	New	Emerson Elec	$619,000	–	8,950	–	0.11%	–
CERN	New	Cerner Corp	$613,000	–	10,250	–	0.10%	–
AGN	New	Allergan Plc	$615,000	–	3,690	–	0.10%	–
VTI	New	Vanguard Total Stock Mktetf	$551,000	–	3,921	–	0.09%	–
AMGN	New	Amgen Inc.	$548,000	–	2,971	–	0.09%	–
GOOGL	New	Alphabet Inc Cl A	$527,000	–	467	–	0.09%	–
	New	Visa	$439,000	–	3,313	–	0.08%	–
EXPD	New	Expeditors Intl Wash	$376,000	–	5,142	–	0.06%	–
CDK	New	CDK Global Inc	$374,000	–	5,750	–	0.06%	–
PFE	New	Pfizer Inc	$352,000	–	9,698	–	0.06%	–
HDV	New	Ishares Core High Divetf	$299,000	–	3,515	–	0.05%	–
SPY	New	S&P Depository Receiptsetf	$293,000	–	1,081	–	0.05%	–
KMB	New	Kimberly Clark	$263,000	–	2,493	–	0.04%	–
SM	New	SM Energy Company	$257,000	–	10,000	–	0.04%	–
COST	New	Costco Wholesale Corp	$250,000	–	1,196	–	0.04%	–
GLW	New	Corning Inc.	$232,000	–	8,450	–	0.04%	–
HSY	New	Hershey Foods	$225,000	–	2,415	–	0.04%	–
TIF	New	Tiffany & Co., Inc.	$224,000	–	1,700	–	0.04%	–
RBA	New	Ritchie Bros. Auctioneers	$213,000	–	6,235	–	0.04%	–

Q4 2017

			Value		Shares		↓ Weighting
AON	Exit	AON Plcclass a	$0	–	-1,652	–	-0.04%	–
SM	Exit	SM Energy Company	$0	–	-14,000	–	-0.04%	–
GLW	Exit	Corning Inc.	$0	–	-8,450	–	-0.05%	–
SPY	Exit	S&P Depository Receiptsetf	$0	–	-1,022	–	-0.05%	–
BPL	Exit	Buckeye Part	$0	–	-4,450	–	-0.05%	–
HSY	Exit	Hershey Foods	$0	–	-2,400	–	-0.05%	–
KMB	Exit	Kimberly Clark	$0	–	-2,493	–	-0.05%	–
HDV	Exit	Ishares Core High Divetf	$0	–	-3,715	–	-0.06%	–
	Exit	Visa	$0	–	-3,388	–	-0.06%	–
CDK	Exit	CDK Global Inc	$0	–	-6,250	–	-0.07%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-7,350	–	-0.08%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-467	–	-0.08%	–
PFE	Exit	Pfizer Inc	$0	–	-12,813	–	-0.08%	–
MON	Exit	Monsanto	$0	–	-3,960	–	-0.08%	–
FEYE	Exit	FireEye Inc.	$0	–	-30,032	–	-0.09%	–
EMR	Exit	Emerson Elec	$0	–	-9,250	–	-0.10%	–
AMGN	Exit	Amgen Inc.	$0	–	-3,248	–	-0.11%	–
CERN	Exit	Cerner Corp	$0	–	-9,500	–	-0.12%	–
AGN	Exit	Allergan Plc	$0	–	-3,690	–	-0.14%	–
ECL	Exit	Ecolab Inc	$0	–	-6,660	–	-0.15%	–
SRCL	Exit	Stericycle Inc.	$0	–	-12,000	–	-0.16%	–
DIS	Exit	Walt Disney Co	$0	–	-9,780	–	-0.17%	–
IBM	Exit	IBM	$0	–	-8,630	–	-0.22%	–
VRX	Exit	Valeant Pharmaceuticals	$0	–	-93,458	–	-0.24%	–
VSM	Exit	Versum Materials Inc	$0	–	-38,528	–	-0.27%	–
UTX	Exit	United Technologies	$0	–	-13,484	–	-0.28%	–
ABT	Exit	Abbott Labs	$0	–	-30,952	–	-0.30%	–
TJX	Exit	TJX Companies	$0	–	-23,935	–	-0.32%	–
PEP	Exit	Pepsico	$0	–	-17,954	–	-0.36%	–
FAST	Exit	Fastenal Co	$0	–	-44,480	–	-0.36%	–
ABBV	Exit	Abbvie Inc	$0	–	-24,841	–	-0.40%	–
MKC	Exit	McCormick & Co	$0	–	-23,264	–	-0.43%	–
ADP	Exit	Automatic Data	$0	–	-22,264	–	-0.44%	–
WAT	Exit	Waters Corp.	$0	–	-13,775	–	-0.44%	–
AAPL	Exit	Apple Computer	$0	–	-19,893	–	-0.55%	–
WU	Exit	Western Union	$0	–	-167,091	–	-0.58%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-3,591	–	-0.62%	–
XOM	Exit	ExxonMobile	$0	–	-46,832	–	-0.69%	–
APD	Exit	Air Products & Chemicals	$0	–	-25,730	–	-0.70%	–
MA	Exit	Mastercard Inc	$0	–	-27,784	–	-0.71%	–
UNP	Exit	Union Pacific Corp	$0	–	-34,820	–	-0.73%	–
GE	Exit	General Electric	$0	–	-180,523	–	-0.78%	–
MMM	Exit	3M Company	$0	–	-22,677	–	-0.86%	–
KO	Exit	Coca-Cola Co	$0	–	-260,546	–	-2.11%	–
MDT	Exit	Medtronic PLC	$0	–	-184,557	–	-2.58%	–
INTC	Exit	Intel Corp	$0	–	-522,699	–	-3.58%	–
MCO	Exit	Moody's Corp	$0	–	-213,178	–	-5.34%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-470,972	–	-6.54%	–
PG	Exit	Procter & Gamble	$0	–	-467,667	–	-7.66%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-338,665	–	-11.17%	–
JNJ	Exit	Johnson & Johnson	$0	–	-499,327	–	-11.68%	–
MSFT	Exit	Microsoft	$0	–	-1,086,989	–	-14.57%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-457	–	-22.59%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKA	Sell	Berkshire Hathaway	$125,556,000	+7.6%	457	-0.2%	22.59%	+1.5%
MSFT	Sell	Microsoft	$80,970,000	+7.9%	1,086,989	-0.2%	14.57%	+1.7%
JNJ	Buy	Johnson & Johnson	$64,918,000	-1.3%	499,327	+0.4%	11.68%	-7.0%
BRKB	Buy	Berkshire Hathaway	$62,084,000	+10.0%	338,665	+1.6%	11.17%	+3.7%
PG	Buy	Procter & Gamble	$42,548,000	+6.2%	467,667	+1.7%	7.66%	+0.1%
WBA	Buy	Walgreen Boots Alliance	$36,368,000	-0.1%	470,972	+1.3%	6.54%	-5.8%
MCO	Sell	Moody's Corp	$29,676,000	+14.3%	213,178	-0.1%	5.34%	+7.7%
INTC	Buy	Intel Corp	$19,903,000	+19.2%	522,699	+4.0%	3.58%	+12.4%
MDT	Buy	Medtronic PLC	$14,353,000	-1.1%	184,557	+12.9%	2.58%	-6.8%
KO	Sell	Coca-Cola Co	$11,727,000	-3.4%	260,546	-3.7%	2.11%	-8.9%
MMM	Sell	3M Company	$4,760,000	-1.2%	22,677	-2.0%	0.86%	-6.8%
GE	Sell	General Electric	$4,365,000	-10.9%	180,523	-0.5%	0.78%	-16.0%
UNP	Buy	Union Pacific Corp	$4,038,000	+15.5%	34,820	+8.4%	0.73%	+8.8%
MA	Buy	Mastercard Inc	$3,923,000	+22.1%	27,784	+5.0%	0.71%	+15.2%
APD	Buy	Air Products & Chemicals	$3,891,000	+14.9%	25,730	+8.7%	0.70%	+8.2%
XOM	Sell	ExxonMobile	$3,839,000	+1.3%	46,832	-0.2%	0.69%	-4.4%
GOOG	Buy	Alphabet Inc Cl C	$3,444,000	+8.1%	3,591	+2.5%	0.62%	+2.0%
WU	Sell	Western Union	$3,208,000	-1.2%	167,091	-1.9%	0.58%	-6.9%
AAPL	Sell	Apple Computer	$3,066,000	+6.8%	19,893	-0.2%	0.55%	+0.7%
WAT	Sell	Waters Corp.	$2,473,000	-2.5%	13,775	-0.2%	0.44%	-8.1%
ADP	Sell	Automatic Data	$2,434,000	+5.3%	22,264	-1.3%	0.44%	-0.7%
MKC	Buy	McCormick & Co	$2,388,000	+5.9%	23,264	+0.6%	0.43%	0.0%
ABBV	Sell	Abbvie Inc	$2,207,000	+20.4%	24,841	-1.8%	0.40%	+13.4%
PEP	Sell	Pepsico	$2,001,000	-3.8%	17,954	-0.3%	0.36%	-9.3%
TJX	Buy	TJX Companies	$1,765,000	+3.3%	23,935	+1.1%	0.32%	-2.5%
ABT	Buy	Abbott Labs	$1,652,000	+13.2%	30,952	+3.1%	0.30%	+6.5%
UTX	Sell	United Technologies	$1,565,000	-5.2%	13,484	-0.3%	0.28%	-10.5%
VSM	Buy	Versum Materials Inc	$1,496,000	+57.6%	38,528	+31.9%	0.27%	+48.6%
VRX	Sell	Valeant Pharmaceuticals	$1,339,000	-17.4%	93,458	-0.3%	0.24%	-22.3%
IBM	Sell	IBM	$1,252,000	-6.4%	8,630	-0.7%	0.22%	-11.8%
DIS	Sell	Walt Disney Co	$964,000	-8.5%	9,780	-1.4%	0.17%	-13.9%
SRCL	New	Stericycle Inc.	$859,000	–	12,000	–	0.16%	–
ECL	Buy	Ecolab Inc	$857,000	-1.6%	6,660	+1.5%	0.15%	-7.2%
EMR	Buy	Emerson Elec	$581,000	+7.4%	9,250	+1.9%	0.10%	+1.9%
FEYE	Buy	FireEye Inc.	$503,000	+10.8%	30,032	+0.7%	0.09%	+4.6%
EXPD	Buy	Expeditors Intl Wash	$440,000	+7.1%	7,350	+1.0%	0.08%	+1.3%
SPY	New	S&P Depository Receiptsetf	$257,000	–	1,022	–	0.05%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,277	–	-0.04%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKA	New	Berkshire Hathaway	$116,653,000	–	458	–	22.27%	–
MSFT	New	Microsoft	$75,050,000	–	1,088,784	–	14.33%	–
JNJ	New	Johnson & Johnson	$65,800,000	–	497,392	–	12.56%	–
BRKB	New	Berkshire Hathaway	$56,455,000	–	333,325	–	10.78%	–
PG	New	Procter & Gamble	$40,073,000	–	459,812	–	7.65%	–
WBA	New	Walgreen Boots Alliance	$36,410,000	–	464,947	–	6.95%	–
MCO	New	Moody's Corp	$25,962,000	–	213,367	–	4.96%	–
INTC	New	Intel Corp	$16,695,000	–	502,814	–	3.19%	–
MDT	New	Medtronic PLC	$14,510,000	–	163,497	–	2.77%	–
KO	New	Coca-Cola Co	$12,140,000	–	270,686	–	2.32%	–
GE	New	General Electric	$4,900,000	–	181,423	–	0.94%	–
MMM	New	3M Company	$4,820,000	–	23,151	–	0.92%	–
XOM	New	ExxonMobile	$3,790,000	–	46,947	–	0.72%	–
UNP	New	Union Pacific Corp	$3,497,000	–	32,110	–	0.67%	–
APD	New	Air Products & Chemicals	$3,387,000	–	23,675	–	0.65%	–
WU	New	Western Union	$3,246,000	–	170,391	–	0.62%	–
MA	New	Mastercard Inc	$3,213,000	–	26,459	–	0.61%	–
GOOG	New	Alphabet Inc Cl C	$3,185,000	–	3,505	–	0.61%	–
AAPL	New	Apple Computer	$2,871,000	–	19,934	–	0.55%	–
WAT	New	Waters Corp.	$2,537,000	–	13,800	–	0.48%	–
ADP	New	Automatic Data	$2,312,000	–	22,564	–	0.44%	–
MKC	New	McCormick & Co	$2,254,000	–	23,114	–	0.43%	–
PEP	New	Pepsico	$2,079,000	–	18,004	–	0.40%	–
FAST	New	Fastenal Co	$1,936,000	–	44,480	–	0.37%	–
ABBV	New	Abbvie Inc	$1,833,000	–	25,285	–	0.35%	–
TJX	New	TJX Companies	$1,709,000	–	23,685	–	0.33%	–
UTX	New	United Technologies	$1,651,000	–	13,524	–	0.32%	–
VRX	New	Valeant Pharmaceuticals	$1,622,000	–	93,753	–	0.31%	–
ABT	New	Abbott Labs	$1,459,000	–	30,010	–	0.28%	–
IBM	New	IBM	$1,337,000	–	8,694	–	0.26%	–
DIS	New	Walt Disney Co	$1,054,000	–	9,920	–	0.20%	–
VSM	New	Versum Materials Inc	$949,000	–	29,203	–	0.18%	–
AGN	New	Allergan Plc	$897,000	–	3,690	–	0.17%	–
ECL	New	Ecolab Inc	$871,000	–	6,560	–	0.17%	–
CERN	New	Cerner Corp	$631,000	–	9,500	–	0.12%	–
AMGN	New	Amgen Inc.	$559,000	–	3,248	–	0.11%	–
EMR	New	Emerson Elec	$541,000	–	9,080	–	0.10%	–
MON	New	Monsanto	$469,000	–	3,960	–	0.09%	–
FEYE	New	FireEye Inc.	$454,000	–	29,832	–	0.09%	–
GOOGL	New	Alphabet Inc Cl A	$434,000	–	467	–	0.08%	–
PFE	New	Pfizer Inc	$430,000	–	12,813	–	0.08%	–
EXPD	New	Expeditors Intl Wash	$411,000	–	7,275	–	0.08%	–
CDK	New	CDK Global Inc	$388,000	–	6,250	–	0.07%	–
	New	Visa	$318,000	–	3,388	–	0.06%	–
KMB	New	Kimberly Clark	$322,000	–	2,493	–	0.06%	–
HDV	New	Ishares Core High Divetf	$309,000	–	3,715	–	0.06%	–
BPL	New	Buckeye Part	$284,000	–	4,450	–	0.05%	–
HSY	New	Hershey Foods	$258,000	–	2,400	–	0.05%	–
GLW	New	Corning Inc.	$254,000	–	8,450	–	0.05%	–
SM	New	SM Energy Company	$231,000	–	14,000	–	0.04%	–
AON	New	AON Plcclass a	$220,000	–	1,652	–	0.04%	–
COST	New	Costco Wholesale Corp	$204,000	–	1,277	–	0.04%	–

Q4 2016

			Value		Shares		↓ Weighting
HSY	Exit	Hershey Foods	$0	–	-2,400	–	-0.04%	–
V	Exit	Visa	$0	–	-3,238	–	-0.05%	–
MON	Exit	Monsanto	$0	–	-2,860	–	-0.06%	–
HDV	Exit	Ishares Core High Divetf	$0	–	-3,715	–	-0.06%	–
KMB	Exit	Kimberly Clark	$0	–	-2,593	–	-0.06%	–
BPL	Exit	Buckeye Part	$0	–	-4,950	–	-0.07%	–
PFE	Exit	Pfizer Inc	$0	–	-10,778	–	-0.07%	–
CDK	Exit	CDK Global Inc	$0	–	-6,416	–	-0.07%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-8,375	–	-0.08%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-542	–	-0.08%	–
FEYE	Exit	FireEye Inc.	$0	–	-30,032	–	-0.08%	–
ECL	Exit	Ecolab Inc	$0	–	-4,098	–	-0.10%	–
EMR	Exit	Emerson Elec	$0	–	-9,580	–	-0.10%	–
CERN	Exit	Cerner Corp	$0	–	-9,500	–	-0.11%	–
MKC	Exit	McCormick & Co	$0	–	-6,264	–	-0.12%	–
	Exit	SM Energy Company	$0	–	-17,300	–	-0.13%	–
AMGN	Exit	Amgen Inc.	$0	–	-4,283	–	-0.14%	–
AGN	Exit	Allergan, Inc.	$0	–	-3,690	–	-0.16%	–
ABT	Exit	Abbott Labs	$0	–	-32,941	–	-0.27%	–
IBM	Exit	IBM	$0	–	-9,050	–	-0.28%	–
TJX	Exit	TJX Companies	$0	–	-19,535	–	-0.28%	–
FAST	Exit	Fastenal Co	$0	–	-36,725	–	-0.30%	–
DIS	Exit	Walt Disney Co	$0	–	-17,520	–	-0.31%	–
ABBV	Exit	Abbvie Inc	$0	–	-27,685	–	-0.34%	–
WAT	Exit	Waters Corp.	$0	–	-11,350	–	-0.35%	–
UNP	Exit	Union Pacific Corp	$0	–	-20,175	–	-0.38%	–
APD	Exit	Air Products & Chemicals	$0	–	-13,115	–	-0.38%	–
ADP	Exit	Automatic Data	$0	–	-22,564	–	-0.38%	–
AAPL	Exit	Apple Computer	$0	–	-17,612	–	-0.38%	–
PEP	Exit	Pepsico	$0	–	-19,204	–	-0.40%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-2,844	–	-0.42%	–
MA	Exit	Mastercard Inc	$0	–	-24,024	–	-0.47%	–
WU	Exit	Western Union	$0	–	-173,004	–	-0.69%	–
MMM	Exit	3M Company	$0	–	-23,151	–	-0.78%	–
XOM	Exit	ExxonMobile	$0	–	-51,087	–	-0.86%	–
GE	Exit	General Electric	$0	–	-188,880	–	-1.08%	–
VRX	Exit	Valeant Pharmaceuticals	$0	–	-242,935	–	-1.15%	–
MDT	Exit	Medtronic PLC	$0	–	-132,012	–	-2.19%	–
KO	Exit	Coca-Cola Co	$0	–	-281,794	–	-2.29%	–
INTC	Exit	Intel Corp	$0	–	-441,663	–	-3.20%	–
MCO	Exit	Moody's Corp	$0	–	-225,047	–	-4.68%	–
PG	Exit	Procter & Gamble	$0	–	-416,519	–	-7.18%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-465,960	–	-7.22%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-333,049	–	-9.24%	–
LLTC	Exit	Linear Technology	$0	–	-936,360	–	-10.67%	–
JNJ	Exit	Johnson & Johnson	$0	–	-491,525	–	-11.16%	–
MSFT	Exit	Microsoft	$0	–	-1,082,162	–	-11.98%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-460	–	-19.11%	–

Q3 2016

			Value		Shares		↓ Weighting
BRKA	Sell	Berkshire Hathaway	$99,461,000	-4.3%	460	-4.0%	19.11%	-8.3%
MSFT	Sell	Microsoft	$62,333,000	+12.5%	1,082,162	-0.1%	11.98%	+7.7%
JNJ	Sell	Johnson & Johnson	$58,064,000	-3.1%	491,525	-0.5%	11.16%	-7.2%
LLTC	Sell	Linear Technology	$55,517,000	+24.1%	936,360	-2.6%	10.67%	+18.9%
BRKB	Buy	Berkshire Hathaway	$48,116,000	+5.0%	333,049	+5.2%	9.24%	+0.5%
WBA	Sell	Walgreen Boots Alliance	$37,566,000	-3.5%	465,960	-0.3%	7.22%	-7.5%
PG	Buy	Procter & Gamble	$37,383,000	+7.7%	416,519	+1.6%	7.18%	+3.2%
MCO	Sell	Moody's Corp	$24,368,000	+12.8%	225,047	-2.3%	4.68%	+8.1%
INTC	Buy	Intel Corp	$16,673,000	+16.2%	441,663	+1.0%	3.20%	+11.3%
KO	Buy	Coca-Cola Co	$11,926,000	-5.8%	281,794	+0.8%	2.29%	-9.8%
MDT	Sell	Medtronic PLC	$11,406,000	-0.5%	132,012	-0.1%	2.19%	-4.7%
VRX	Sell	Valeant Pharmaceuticals	$5,964,000	+8.8%	242,935	-10.7%	1.15%	+4.3%
GE	Buy	General Electric	$5,595,000	-5.1%	188,880	+0.9%	1.08%	-9.1%
XOM	Buy	ExxonMobile	$4,459,000	-5.9%	51,087	+1.0%	0.86%	-9.9%
MMM	Buy	3M Company	$4,080,000	+2.7%	23,151	+2.1%	0.78%	-1.6%
WU	Sell	Western Union	$3,602,000	+7.4%	173,004	-1.0%	0.69%	+2.8%
AAPL	Buy	Apple Computer	$1,991,000	+19.8%	17,612	+1.3%	0.38%	+15.0%
APD	Buy	Air Products & Chemicals	$1,972,000	+17.0%	13,115	+10.5%	0.38%	+12.1%
UNP	Buy	Union Pacific Corp	$1,968,000	+19.5%	20,175	+6.9%	0.38%	+14.5%
WAT	Sell	Waters Corp.	$1,799,000	+12.0%	11,350	-0.6%	0.35%	+7.5%
ABBV	Buy	Abbvie Inc	$1,746,000	+4.5%	27,685	+2.6%	0.34%	0.0%
DIS	Buy	Walt Disney Co	$1,627,000	-4.3%	17,520	+0.8%	0.31%	-8.2%
FAST	Buy	Fastenal Co	$1,534,000	-3.5%	36,725	+2.5%	0.30%	-7.5%
TJX	Buy	TJX Companies	$1,461,000	+1.7%	19,535	+5.0%	0.28%	-2.4%
ABT	Buy	Abbott Labs	$1,393,000	+9.3%	32,941	+1.6%	0.27%	+4.7%
AMGN	Buy	Amgen Inc.	$714,000	+108.8%	4,283	+90.5%	0.14%	+98.6%
MKC	Buy	McCormick & Co	$626,000	-4.6%	6,264	+1.9%	0.12%	-9.1%
EMR	Buy	Emerson Elec	$522,000	+4.8%	9,580	+0.3%	0.10%	0.0%
ECL	Sell	Ecolab Inc	$499,000	+0.4%	4,098	-2.1%	0.10%	-4.0%
EXPD	Sell	Expeditors Intl Wash	$431,000	+3.1%	8,375	-1.8%	0.08%	-1.2%
KMB	Sell	Kimberly Clark	$327,000	-9.9%	2,593	-1.9%	0.06%	-13.7%
V	New	Visa	$268,000	–	3,238	–	0.05%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,277	–	-0.04%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKA	New	Berkshire Hathaway	$103,931,000	–	479	–	20.85%	–
JNJ	New	Johnson & Johnson	$59,897,000	–	493,795	–	12.02%	–
MSFT	New	Microsoft	$55,424,000	–	1,083,137	–	11.12%	–
BRKB	New	Berkshire Hathaway	$45,832,000	–	316,538	–	9.20%	–
LLTC	New	Linear Technology	$44,730,000	–	961,321	–	8.97%	–
WBA	New	Walgreen Boots Alliance	$38,914,000	–	467,318	–	7.81%	–
PG	New	Procter & Gamble	$34,705,000	–	409,886	–	6.96%	–
MCO	New	Moody's Corp	$21,596,000	–	230,458	–	4.33%	–
INTC	New	Intel Corp	$14,349,000	–	437,478	–	2.88%	–
KO	New	Coca-Cola Co	$12,667,000	–	279,429	–	2.54%	–
MDT	New	Medtronic PLC	$11,461,000	–	132,081	–	2.30%	–
GE	New	General Electric	$5,894,000	–	187,233	–	1.18%	–
VRX	New	Valeant Pharmaceuticals	$5,480,000	–	272,092	–	1.10%	–
XOM	New	ExxonMobile	$4,740,000	–	50,570	–	0.95%	–
MMM	New	3M Company	$3,971,000	–	22,677	–	0.80%	–
WU	New	Western Union	$3,353,000	–	174,804	–	0.67%	–
MA	New	Mastercard Inc	$2,116,000	–	24,024	–	0.42%	–
ADP	New	Automatic Data	$2,073,000	–	22,564	–	0.42%	–
PEP	New	Pepsico	$2,034,000	–	19,204	–	0.41%	–
GOOG	New	Alphabet Inc Cl C	$1,968,000	–	2,844	–	0.40%	–
DIS	New	Walt Disney Co	$1,700,000	–	17,380	–	0.34%	–
APD	New	Air Products & Chemicals	$1,686,000	–	11,870	–	0.34%	–
ABBV	New	Abbvie Inc	$1,671,000	–	26,991	–	0.34%	–
AAPL	New	Apple Computer	$1,662,000	–	17,382	–	0.33%	–
UNP	New	Union Pacific Corp	$1,647,000	–	18,880	–	0.33%	–
WAT	New	Waters Corp.	$1,606,000	–	11,420	–	0.32%	–
FAST	New	Fastenal Co	$1,590,000	–	35,825	–	0.32%	–
TJX	New	TJX Companies	$1,437,000	–	18,605	–	0.29%	–
IBM	New	IBM	$1,374,000	–	9,050	–	0.28%	–
ABT	New	Abbott Labs	$1,274,000	–	32,421	–	0.26%	–
AGN	New	Allergan, Inc.	$853,000	–	3,690	–	0.17%	–
MKC	New	McCormick & Co	$656,000	–	6,150	–	0.13%	–
CERN	New	Cerner Corp	$557,000	–	9,500	–	0.11%	–
ECL	New	Ecolab Inc	$497,000	–	4,188	–	0.10%	–
EMR	New	Emerson Elec	$498,000	–	9,550	–	0.10%	–
FEYE	New	FireEye Inc.	$495,000	–	30,032	–	0.10%	–
	New	SM Energy Company	$467,000	–	17,300	–	0.09%	–
EXPD	New	Expeditors Intl Wash	$418,000	–	8,525	–	0.08%	–
PFE	New	Pfizer Inc	$379,000	–	10,778	–	0.08%	–
GOOGL	New	Alphabet Inc Cl A	$381,000	–	542	–	0.08%	–
KMB	New	Kimberly Clark	$363,000	–	2,643	–	0.07%	–
CDK	New	CDK Global Inc	$356,000	–	6,416	–	0.07%	–
BPL	New	Buckeye Part	$348,000	–	4,950	–	0.07%	–
AMGN	New	Amgen Inc.	$342,000	–	2,248	–	0.07%	–
HDV	New	Ishares Core High Divetf	$305,000	–	3,715	–	0.06%	–
MON	New	Monsanto	$295,000	–	2,860	–	0.06%	–
HSY	New	Hershey Foods	$272,000	–	2,400	–	0.06%	–
COST	New	Costco Wholesale Corp	$201,000	–	1,277	–	0.04%	–

Q4 2015

			Value		Shares		↓ Weighting
CVX	Exit	Chevron Corp	$0	–	-2,558	–	-0.04%	–
HSY	Exit	Hershey Foods	$0	–	-2,400	–	-0.04%	–
MON	Exit	Monsanto	$0	–	-2,860	–	-0.05%	–
KMB	Exit	Kimberly Clark	$0	–	-2,248	–	-0.05%	–
BPL	Exit	Buckeye Part	$0	–	-4,950	–	-0.06%	–
AMGN	Exit	Amgen Inc.	$0	–	-2,148	–	-0.06%	–
PFE	Exit	Pfizer Inc	$0	–	-9,496	–	-0.06%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-484	–	-0.06%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-516	–	-0.06%	–
CDK	Exit	CDK Global Inc	$0	–	-7,270	–	-0.07%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-8,300	–	-0.08%	–
WAT	Exit	Waters Corp.	$0	–	-3,540	–	-0.09%	–
EMR	Exit	Emerson Elec	$0	–	-10,214	–	-0.09%	–
SIAL	Exit	Sigma Aldrich	$0	–	-3,590	–	-0.10%	–
MKC	Exit	McCormick & Co	$0	–	-6,150	–	-0.10%	–
FAST	Exit	Fastenal Co	$0	–	-20,000	–	-0.15%	–
IBM	Exit	IBM	$0	–	-8,772	–	-0.26%	–
ABT	Exit	Abbott Labs	$0	–	-32,771	–	-0.27%	–
MA	Exit	Mastercard Inc	$0	–	-15,524	–	-0.29%	–
ABBV	Exit	Abbvie Inc	$0	–	-27,041	–	-0.30%	–
ADP	Exit	Automatic Data	$0	–	-22,533	–	-0.37%	–
PEP	Exit	Pepsico	$0	–	-19,739	–	-0.38%	–
DIS	Exit	Walt Disney Co	$0	–	-18,329	–	-0.38%	–
AAPL	Exit	Apple Computer	$0	–	-17,220	–	-0.39%	–
MMM	Exit	3M Company	$0	–	-22,637	–	-0.66%	–
WU	Exit	Western Union	$0	–	-177,030	–	-0.67%	–
XOM	Exit	ExxonMobile	$0	–	-51,665	–	-0.79%	–
GE	Exit	General Electric	$0	–	-184,327	–	-0.95%	–
MDT	Exit	Medtronic PLC	$0	–	-133,128	–	-1.82%	–
KO	Exit	Coca-Cola Co	$0	–	-299,484	–	-2.46%	–
INTC	Exit	Intel Corp	$0	–	-409,868	–	-2.53%	–
MCO	Exit	Moody's Corp	$0	–	-225,277	–	-4.53%	–
PG	Exit	Procter & Gamble	$0	–	-373,761	–	-5.51%	–
VRX	Exit	Valeant Pharmaceuticals	$0	–	-198,274	–	-7.24%	–
PCP	Exit	Precision Cast Parts	$0	–	-155,554	–	-7.32%	–
WBA	Exit	Walgreen Boots Alliance	$0	–	-453,138	–	-7.71%	–
LLTC	Exit	Linear Technology	$0	–	-961,398	–	-7.94%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-297,919	–	-7.96%	–
JNJ	Exit	Johnson & Johnson	$0	–	-483,387	–	-9.24%	–
MSFT	Exit	Microsoft	$0	–	-1,059,418	–	-9.60%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-481	–	-19.24%	–

Q3 2015

			Value		Shares		↓ Weighting
BRKA	Buy	Berkshire Hathaway	$93,910,000	+0.5%	481	+5.5%	19.24%	-14.9%
MSFT	Buy	Microsoft	$46,890,000	+9.2%	1,059,418	+8.9%	9.60%	-7.6%
JNJ	Buy	Johnson & Johnson	$45,124,000	+4.2%	483,387	+8.8%	9.24%	-11.8%
BRKB	Buy	Berkshire Hathaway	$38,849,000	+4.2%	297,919	+8.7%	7.96%	-11.9%
LLTC	Buy	Linear Technology	$38,792,000	-2.2%	961,398	+7.2%	7.94%	-17.3%
WBA	Buy	Walgreen Boots Alliance	$37,656,000	+6.6%	453,138	+8.3%	7.71%	-9.8%
PCP	New	Precision Cast Parts	$35,732,000	–	155,554	–	7.32%	–
VRX	New	Valeant Pharmaceuticals	$35,368,000	–	198,274	–	7.24%	–
PG	Buy	Procter & Gamble	$26,888,000	+3.0%	373,761	+12.0%	5.51%	-12.9%
MCO	Sell	Moody's Corp	$22,122,000	-13.1%	225,277	-4.5%	4.53%	-26.5%
INTC	Buy	Intel Corp	$12,353,000	+17.4%	409,868	+18.5%	2.53%	-0.7%
KO	Sell	Coca-Cola Co	$12,015,000	-11.2%	299,484	-13.2%	2.46%	-24.9%
MDT	Sell	Medtronic PLC	$8,912,000	-13.7%	133,128	-4.4%	1.82%	-26.9%
GE	Buy	General Electric	$4,649,000	-3.3%	184,327	+1.9%	0.95%	-18.1%
XOM	Sell	ExxonMobile	$3,841,000	-13.0%	51,665	-2.7%	0.79%	-26.4%
WU	Sell	Western Union	$3,250,000	-12.6%	177,030	-3.2%	0.67%	-26.0%
MMM	Buy	3M Company	$3,209,000	-8.1%	22,637	+0.1%	0.66%	-22.2%
AAPL	Buy	Apple Computer	$1,899,000	-5.3%	17,220	+7.7%	0.39%	-19.8%
DIS	Buy	Walt Disney Co	$1,873,000	-9.2%	18,329	+1.5%	0.38%	-23.0%
PEP	Buy	Pepsico	$1,861,000	+1.8%	19,739	+0.8%	0.38%	-13.8%
ADP	Buy	Automatic Data	$1,811,000	+0.5%	22,533	+0.3%	0.37%	-14.9%
MA	Buy	Mastercard Inc	$1,399,000	+492.8%	15,524	+515.1%	0.29%	+403.5%
ABT	Sell	Abbott Labs	$1,318,000	-18.3%	32,771	-0.3%	0.27%	-30.8%
FAST	New	Fastenal Co	$732,000	–	20,000	–	0.15%	–
EMR	Sell	Emerson Elec	$451,000	-35.2%	10,214	-18.6%	0.09%	-45.2%
EXPD	Buy	Expeditors Intl Wash	$391,000	+4.0%	8,300	+1.8%	0.08%	-12.1%
CDK	Sell	CDK Global Inc	$347,000	-13.2%	7,270	-1.8%	0.07%	-26.8%
GOOG	New	Alphabet Inc Cl C	$314,000	–	516	–	0.06%	–
GOOGL	New	Alphabet Inc Cl A	$309,000	–	484	–	0.06%	–
AMGN	Buy	Amgen Inc.	$297,000	-7.2%	2,148	+3.0%	0.06%	-20.8%
PFE	Buy	Pfizer Inc	$298,000	-3.2%	9,496	+3.3%	0.06%	-18.7%
CVX	Sell	Chevron Corp	$202,000	-19.8%	2,558	-2.0%	0.04%	-32.8%
DCI	Exit	Donaldson Co Inc	$0	–	-6,650	–	-0.06%	–
GOOGL	Exit	Google Inc Class A	$0	–	-456	–	-0.06%	–
GOOG	Exit	Google Class C	$0	–	-488	–	-0.06%	–
CSCO	Exit	Cisco Systems	$0	–	-13,970	–	-0.09%	–

Q2 2015

			Value		Shares		↓ Weighting
BRKA	New	Berkshire Hathaway	$93,412,000	–	456	–	22.61%	–
JNJ	New	Johnson & Johnson	$43,311,000	–	444,395	–	10.48%	–
MSFT	New	Microsoft	$42,954,000	–	972,900	–	10.40%	–
LLTC	New	Linear Technology	$39,679,000	–	897,112	–	9.60%	–
BRKB	New	Berkshire Hathaway	$37,299,000	–	274,033	–	9.03%	–
WBA	New	Walgreen Boots Alliance	$35,329,000	–	418,394	–	8.55%	–
PG	New	Procter & Gamble	$26,116,000	–	333,788	–	6.32%	–
MCO	New	Moody's Corp	$25,456,000	–	235,792	–	6.16%	–
KO	New	Coca-Cola Co	$13,535,000	–	345,022	–	3.28%	–
INTC	New	Intel Corp	$10,524,000	–	346,024	–	2.55%	–
MDT	New	Medtronic PLC	$10,323,000	–	139,310	–	2.50%	–
GE	New	General Electric	$4,806,000	–	180,870	–	1.16%	–
XOM	New	ExxonMobile	$4,416,000	–	53,082	–	1.07%	–
WU	New	Western Union	$3,717,000	–	182,829	–	0.90%	–
MMM	New	3M Company	$3,490,000	–	22,617	–	0.84%	–
DIS	New	Walt Disney Co	$2,062,000	–	18,064	–	0.50%	–
AAPL	New	Apple Computer	$2,005,000	–	15,989	–	0.48%	–
PEP	New	Pepsico	$1,828,000	–	19,589	–	0.44%	–
ABBV	New	Abbvie Inc	$1,817,000	–	27,041	–	0.44%	–
ADP	New	Automatic Data	$1,802,000	–	22,463	–	0.44%	–
ABT	New	Abbott Labs	$1,613,000	–	32,871	–	0.39%	–
IBM	New	IBM	$1,427,000	–	8,772	–	0.34%	–
EMR	New	Emerson Elec	$696,000	–	12,550	–	0.17%	–
MKC	New	McCormick & Co	$498,000	–	6,150	–	0.12%	–
SIAL	New	Sigma Aldrich	$500,000	–	3,590	–	0.12%	–
WAT	New	Waters Corp.	$454,000	–	3,540	–	0.11%	–
CDK	New	CDK Global Inc	$400,000	–	7,405	–	0.10%	–
CSCO	New	Cisco Systems	$384,000	–	13,970	–	0.09%	–
EXPD	New	Expeditors Intl Wash	$376,000	–	8,150	–	0.09%	–
BPL	New	Buckeye Part	$366,000	–	4,950	–	0.09%	–
AMGN	New	Amgen Inc.	$320,000	–	2,085	–	0.08%	–
PFE	New	Pfizer Inc	$308,000	–	9,194	–	0.08%	–
MON	New	Monsanto	$305,000	–	2,860	–	0.07%	–
CVX	New	Chevron Corp	$252,000	–	2,610	–	0.06%	–
GOOG	New	Google Class C	$254,000	–	488	–	0.06%	–
GOOGL	New	Google Inc Class A	$246,000	–	456	–	0.06%	–
KMB	New	Kimberly Clark	$238,000	–	2,248	–	0.06%	–
DCI	New	Donaldson Co Inc	$238,000	–	6,650	–	0.06%	–
MA	New	Mastercard Inc	$236,000	–	2,524	–	0.06%	–
HSY	New	Hershey Foods	$213,000	–	2,400	–	0.05%	–

Q4 2014

			Value		Shares		↓ Weighting
GOOGL	Exit	Google Inc Class A	$0	–	-344	–	-0.05%	–
RDSA	Exit	Royal Dutch Schell	$0	–	-2,677	–	-0.05%	–
DCI	Exit	Donaldson Co Inc	$0	–	-5,200	–	-0.05%	–
HSY	Exit	Hershey Foods	$0	–	-2,400	–	-0.05%	–
CDK	Exit	CDK Global Inc	$0	–	-7,520	–	-0.05%	–
KMB	Exit	Kimberly Clark	$0	–	-2,324	–	-0.06%	–
VZ	Exit	Verizon Communications	$0	–	-5,439	–	-0.06%	–
EXPD	Exit	Expeditors Intl Wash	$0	–	-6,900	–	-0.06%	–
PFE	Exit	Pfizer Inc	$0	–	-9,689	–	-0.07%	–
AMGN	Exit	Amgen Inc.	$0	–	-2,123	–	-0.07%	–
WAT	Exit	Waters Corp.	$0	–	-3,190	–	-0.07%	–
MON	Exit	Monsanto	$0	–	-2,860	–	-0.07%	–
MKC	Exit	McCormick & Co	$0	–	-5,900	–	-0.09%	–
BPL	Exit	Buckeye Part	$0	–	-5,650	–	-0.10%	–
SIAL	Exit	Sigma Aldrich	$0	–	-3,500	–	-0.11%	–
CVX	Exit	Chevron Corp	$0	–	-5,589	–	-0.15%	–
EMR	Exit	Emerson Elec	$0	–	-13,150	–	-0.19%	–
ABT	Exit	Abbott Labs	$0	–	-30,421	–	-0.29%	–
AAPL	Exit	Apple Computer	$0	–	-14,565	–	-0.34%	–
ADP	Exit	Automatic Data	$0	–	-21,597	–	-0.36%	–
ABBV	Exit	Abbvie Inc	$0	–	-27,591	–	-0.36%	–
DIS	Exit	Walt Disney Co	$0	–	-18,229	–	-0.37%	–
PEP	Exit	Pepsico	$0	–	-19,554	–	-0.42%	–
IBM	Exit	IBM	$0	–	-14,439	–	-0.63%	–
WU	Exit	Western Union	$0	–	-193,485	–	-0.71%	–
MMM	Exit	3M Company	$0	–	-22,292	–	-0.72%	–
GE	Exit	General Electric	$0	–	-181,220	–	-1.06%	–
XOM	Exit	ExxonMobile	$0	–	-52,502	–	-1.13%	–
MDT	Exit	Medtronic	$0	–	-140,888	–	-2.00%	–
INTC	Exit	Intel Corp	$0	–	-312,489	–	-2.49%	–
KO	Exit	Coca-Cola Co	$0	–	-353,181	–	-3.45%	–
MCO	Exit	Moody's Corp	$0	–	-250,841	–	-5.43%	–
WAG	Exit	Walgreen Co	$0	–	-405,603	–	-5.50%	–
PG	Exit	Procter & Gamble	$0	–	-320,840	–	-6.15%	–
CSCO	Exit	Cisco Systems	$0	–	-1,267,745	–	-7.30%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-259,353	–	-8.20%	–
LLTC	Exit	Linear Technology	$0	–	-874,460	–	-8.89%	–
MSFT	Exit	Microsoft	$0	–	-965,848	–	-10.25%	–
JNJ	Exit	Johnson & Johnson	$0	–	-433,154	–	-10.57%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-465	–	-22.02%	–

Q3 2014

			Value		Shares		↓ Weighting
BRKA	Buy	Berkshire Hathaway	$96,209,000	+9.4%	465	+0.4%	22.02%	+5.1%
JNJ	Buy	Johnson & Johnson	$46,170,000	+4.7%	433,154	+2.8%	10.57%	+0.6%
MSFT	Buy	Microsoft	$44,777,000	+12.6%	965,848	+1.3%	10.25%	+8.1%
LLTC	Buy	Linear Technology	$38,817,000	-2.7%	874,460	+3.2%	8.89%	-6.6%
BRKB	Buy	Berkshire Hathaway	$35,827,000	+11.9%	259,353	+2.6%	8.20%	+7.5%
CSCO	Buy	Cisco Systems	$31,909,000	+2.3%	1,267,745	+1.0%	7.30%	-1.8%
PG	Buy	Procter & Gamble	$26,867,000	+11.1%	320,840	+4.2%	6.15%	+6.6%
WAG	Buy	Walgreen Co	$24,040,000	-18.7%	405,603	+1.7%	5.50%	-21.9%
MCO	Sell	Moody's Corp	$23,704,000	+4.6%	250,841	-3.0%	5.43%	+0.4%
KO	Sell	Coca-Cola Co	$15,067,000	-0.2%	353,181	-0.9%	3.45%	-4.2%
INTC	Buy	Intel Corp	$10,881,000	+14.4%	312,489	+1.5%	2.49%	+9.8%
MDT	Sell	Medtronic	$8,728,000	-3.6%	140,888	-0.8%	2.00%	-7.5%
XOM	Sell	ExxonMobile	$4,938,000	-9.7%	52,502	-3.4%	1.13%	-13.3%
GE	Buy	General Electric	$4,643,000	-2.1%	181,220	+0.4%	1.06%	-5.9%
MMM	Buy	3M Company	$3,158,000	-0.8%	22,292	+0.3%	0.72%	-4.7%
WU	Sell	Western Union	$3,103,000	-7.7%	193,485	-0.2%	0.71%	-11.5%
PEP	Buy	Pepsico	$1,820,000	+4.7%	19,554	+0.5%	0.42%	+0.7%
DIS	Sell	Walt Disney Co	$1,623,000	+1.1%	18,229	-2.7%	0.37%	-2.9%
ADP	Buy	Automatic Data	$1,574,000	-7.2%	21,597	+0.9%	0.36%	-10.9%
AAPL	Buy	Apple Computer	$1,467,000	+9.5%	14,565	+1.0%	0.34%	+5.3%
WAT	Buy	Waters Corp.	$316,000	+8.6%	3,190	+14.3%	0.07%	+4.3%
PFE	Buy	Pfizer Inc	$287,000	+2.1%	9,689	+2.5%	0.07%	-1.5%
EXPD	Buy	Expeditors Intl Wash	$280,000	-2.4%	6,900	+6.2%	0.06%	-5.9%
VZ	Sell	Verizon Communications	$272,000	-7.8%	5,439	-9.6%	0.06%	-11.4%
KMB	Buy	Kimberly Clark	$250,000	0.0%	2,324	+3.4%	0.06%	-5.0%
CDK	New	CDK Global Inc	$230,000	–	7,520	–	0.05%	–
DCI	New	Donaldson Co Inc	$211,000	–	5,200	–	0.05%	–
RDSA	Sell	Royal Dutch Schell	$204,000	-38.2%	2,677	-33.1%	0.05%	-40.5%
HPQ	Exit	Hewlett-Packard Co	$0	–	-8,600	–	-0.07%	–

Q2 2014

			Value		Shares		↓ Weighting
BRKA	New	Berkshire Hathaway	$87,924,000	–	463	–	20.96%	–
JNJ	New	Johnson & Johnson	$44,077,000	–	421,310	–	10.51%	–
LLTC	New	Linear Technology	$39,884,000	–	847,341	–	9.51%	–
MSFT	New	Microsoft	$39,774,000	–	953,822	–	9.48%	–
BRKB	New	Berkshire Hathaway	$32,003,000	–	252,871	–	7.63%	–
CSCO	New	Cisco Systems	$31,203,000	–	1,255,648	–	7.44%	–
WAG	New	Walgreen Co	$29,557,000	–	398,722	–	7.05%	–
PG	New	Procter & Gamble	$24,192,000	–	307,831	–	5.77%	–
MCO	New	Moody's Corp	$22,670,000	–	258,611	–	5.40%	–
KO	New	Coca-Cola Co	$15,095,000	–	356,351	–	3.60%	–
INTC	New	Intel Corp	$9,511,000	–	307,796	–	2.27%	–
MDT	New	Medtronic	$9,056,000	–	142,038	–	2.16%	–
XOM	New	ExxonMobile	$5,471,000	–	54,342	–	1.30%	–
GE	New	General Electric	$4,741,000	–	180,420	–	1.13%	–
WU	New	Western Union	$3,363,000	–	193,955	–	0.80%	–
MMM	New	3M Company	$3,182,000	–	22,217	–	0.76%	–
IBM	New	IBM	$2,617,000	–	14,439	–	0.62%	–
PEP	New	Pepsico	$1,738,000	–	19,458	–	0.41%	–
ADP	New	Automatic Data	$1,696,000	–	21,397	–	0.40%	–
DIS	New	Walt Disney Co	$1,606,000	–	18,729	–	0.38%	–
ABBV	New	Abbvie Inc	$1,557,000	–	27,591	–	0.37%	–
AAPL	New	Apple Computer	$1,340,000	–	14,418	–	0.32%	–
ABT	New	Abbott Labs	$1,244,000	–	30,421	–	0.30%	–
EMR	New	Emerson Elec	$873,000	–	13,150	–	0.21%	–
CVX	New	Chevron Corp	$730,000	–	5,589	–	0.17%	–
BPL	New	Buckeye Part	$469,000	–	5,650	–	0.11%	–
MKC	New	McCormick & Co	$422,000	–	5,900	–	0.10%	–
MON	New	Monsanto	$357,000	–	2,860	–	0.08%	–
SIAL	New	Sigma Aldrich	$355,000	–	3,500	–	0.08%	–
RDSA	New	Royal Dutch Schell	$330,000	–	4,003	–	0.08%	–
VZ	New	Verizon Communications	$295,000	–	6,019	–	0.07%	–
HPQ	New	Hewlett-Packard Co	$290,000	–	8,600	–	0.07%	–
WAT	New	Waters Corp.	$291,000	–	2,790	–	0.07%	–
EXPD	New	Expeditors Intl Wash	$287,000	–	6,500	–	0.07%	–
PFE	New	Pfizer Inc	$281,000	–	9,454	–	0.07%	–
AMGN	New	Amgen Inc.	$251,000	–	2,123	–	0.06%	–
KMB	New	Kimberly Clark	$250,000	–	2,248	–	0.06%	–
HSY	New	Hershey Foods	$234,000	–	2,400	–	0.06%	–
GOOGL	New	Google Inc Class A	$201,000	–	344	–	0.05%	–

Q4 2013

			Value		Shares		↓ Weighting
L	Exit	Loews Corp	$0	–	-4,326	–	-0.06%	–
KMB	Exit	Kimberly Clark	$0	–	-2,248	–	-0.06%	–
HSY	Exit	Hershey Foods	$0	–	-2,400	–	-0.06%	–
RDSA	Exit	Royal Dutch Schell	$0	–	-4,003	–	-0.07%	–
PFE	Exit	Pfizer Inc	$0	–	-9,094	–	-0.07%	–
GOOGL	Exit	Google Inc	$0	–	-332	–	-0.08%	–
MON	Exit	Monsanto	$0	–	-2,860	–	-0.08%	–
VZ	Exit	Verizon Communications	$0	–	-6,992	–	-0.09%	–
BPL	Exit	Buckeye Part	$0	–	-5,650	–	-0.10%	–
CVX	Exit	Chevron Corp	$0	–	-6,865	–	-0.22%	–
EMR	Exit	Emerson Elec	$0	–	-14,450	–	-0.25%	–
AAPL	Exit	Apple Computer	$0	–	-1,990	–	-0.26%	–
ABT	Exit	Abbott Labs	$0	–	-31,211	–	-0.28%	–
DIS	Exit	Walt Disney Co	$0	–	-19,099	–	-0.33%	–
ABBV	Exit	Abbvie Inc	$0	–	-29,111	–	-0.35%	–
PEP	Exit	Pepsico	$0	–	-19,298	–	-0.42%	–
ADP	Exit	Automatic Data	$0	–	-21,797	–	-0.43%	–
MMM	Exit	3M Company	$0	–	-22,217	–	-0.72%	–
IBM	Exit	IBM	$0	–	-15,643	–	-0.78%	–
WU	Exit	Western Union	$0	–	-195,755	–	-0.99%	–
GE	Exit	General Electric	$0	–	-180,488	–	-1.17%	–
XOM	Exit	ExxonMobile	$0	–	-56,056	–	-1.30%	–
INTC	Exit	Intel Corp	$0	–	-310,159	–	-1.92%	–
MDT	Exit	Medtronic	$0	–	-143,288	–	-2.06%	–
KO	Exit	Coca-Cola Co	$0	–	-373,553	–	-3.82%	–
MCO	Exit	Moody's Corp	$0	–	-283,712	–	-5.39%	–
WAG	Exit	Walgreen Co	$0	–	-404,038	–	-5.88%	–
PG	Exit	Procter & Gamble	$0	–	-310,538	–	-6.35%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-259,614	–	-7.97%	–
CSCO	Exit	Cisco Systems	$0	–	-1,329,114	–	-8.42%	–
MSFT	Exit	Microsoft	$0	–	-983,007	–	-8.84%	–
LLTC	Exit	Linear Technology	$0	–	-869,426	–	-9.32%	–
JNJ	Exit	Johnson & Johnson	$0	–	-428,088	–	-10.03%	–
BRKA	Exit	Berkshire Hathaway	$0	–	-474	–	-21.84%	–

Q3 2013

			Value		Shares		↓ Weighting
BRKA	Sell	Berkshire Hathaway	$80,774,000	+0.2%	474	-0.8%	21.84%	-0.1%
JNJ	Sell	Johnson & Johnson	$37,111,000	+0.0%	428,088	-0.9%	10.03%	-0.3%
LLTC	Sell	Linear Technology	$34,481,000	+6.6%	869,426	-1.0%	9.32%	+6.2%
MSFT	Sell	Microsoft	$32,714,000	-4.7%	983,007	-1.0%	8.84%	-5.0%
CSCO	Sell	Cisco Systems	$31,142,000	-4.3%	1,329,114	-0.6%	8.42%	-4.6%
BRKB	Sell	Berkshire Hathaway	$29,469,000	+0.5%	259,614	-0.9%	7.97%	+0.2%
PG	Sell	Procter & Gamble	$23,474,000	-3.0%	310,538	-1.2%	6.35%	-3.3%
WAG	Sell	Walgreen Co	$21,737,000	+20.2%	404,038	-1.2%	5.88%	+19.8%
MCO	Sell	Moody's Corp	$19,953,000	-1.7%	283,712	-14.8%	5.39%	-2.0%
KO	Sell	Coca-Cola Co	$14,150,000	-7.2%	373,553	-1.7%	3.82%	-7.5%
MDT	Sell	Medtronic	$7,630,000	+2.6%	143,288	-0.9%	2.06%	+2.3%
INTC	Sell	Intel Corp	$7,109,000	-5.6%	310,159	-0.2%	1.92%	-5.9%
XOM	Buy	ExxonMobile	$4,823,000	-4.4%	56,056	+0.4%	1.30%	-4.7%
WU	Sell	Western Union	$3,653,000	+7.5%	195,755	-1.5%	0.99%	+7.0%
MMM	Buy	3M Company	$2,653,000	+9.9%	22,217	+0.6%	0.72%	+9.5%
ADP	Sell	Automatic Data	$1,578,000	+2.8%	21,797	-2.2%	0.43%	+2.6%
PEP	Sell	Pepsico	$1,534,000	-3.3%	19,298	-0.6%	0.42%	-3.5%
AAPL	Buy	Apple Computer	$949,000	+20.7%	1,990	+0.4%	0.26%	+20.7%
CVX	Sell	Chevron Corp	$834,000	-0.8%	6,865	-3.4%	0.22%	-1.3%
RDSA	Buy	Royal Dutch Schell	$263,000	+7.3%	4,003	+4.2%	0.07%	+7.6%
L	New	Loews Corp	$202,000	–	4,326	–	0.06%	–
T	Exit	Amer Tel & Tel	$0	–	-5,761	–	-0.06%	–
HPQ	Exit	Hewlett-Packard	$0	–	-8,600	–	-0.06%	–

Q2 2013

			Value		Shares		↓ Weighting
BRKA	New	Berkshire Hathaway	$80,591,000	–	478	–	21.85%	–
JNJ	New	Johnson & Johnson	$37,100,000	–	432,098	–	10.06%	–
MSFT	New	Microsoft	$34,315,000	–	993,347	–	9.30%	–
CSCO	New	Cisco Systems	$32,549,000	–	1,337,539	–	8.83%	–
LLTC	New	Linear Technology	$32,353,000	–	878,191	–	8.77%	–
BRKB	New	Berkshire Hathaway	$29,309,000	–	261,874	–	7.95%	–
PG	New	Procter & Gamble	$24,206,000	–	314,410	–	6.56%	–
MCO	New	Moody's Corp	$20,295,000	–	333,082	–	5.50%	–
WAG	New	Walgreen Co	$18,084,000	–	409,133	–	4.90%	–
KO	New	Coca-Cola Co	$15,246,000	–	380,093	–	4.13%	–
INTC	New	Intel Corp	$7,532,000	–	310,859	–	2.04%	–
MDT	New	Medtronic	$7,439,000	–	144,522	–	2.02%	–
XOM	New	ExxonMobile	$5,047,000	–	55,856	–	1.37%	–
GE	New	General Electric	$4,186,000	–	180,488	–	1.14%	–
WU	New	Western Union	$3,399,000	–	198,655	–	0.92%	–
IBM	New	IBM	$2,990,000	–	15,643	–	0.81%	–
MMM	New	3M Company	$2,415,000	–	22,087	–	0.66%	–
PEP	New	Pepsico	$1,587,000	–	19,408	–	0.43%	–
ADP	New	Automatic Data	$1,535,000	–	22,297	–	0.42%	–
DIS	New	Walt Disney Co	$1,206,000	–	19,099	–	0.33%	–
ABBV	New	Abbvie Inc	$1,203,000	–	29,111	–	0.33%	–
ABT	New	Abbott Labs	$1,089,000	–	31,211	–	0.30%	–
CVX	New	Chevron Corp	$841,000	–	7,105	–	0.23%	–
EMR	New	Emerson Elec	$788,000	–	14,450	–	0.21%	–
AAPL	New	Apple Computer	$786,000	–	1,982	–	0.21%	–
BPL	New	Buckeye Part	$396,000	–	5,650	–	0.11%	–
VZ	New	Verizon Communications	$352,000	–	6,992	–	0.10%	–
GOOGL	New	Google Inc	$292,000	–	332	–	0.08%	–
MON	New	Monsanto	$283,000	–	2,860	–	0.08%	–
PFE	New	Pfizer Inc	$255,000	–	9,094	–	0.07%	–
RDSA	New	Royal Dutch Schell	$245,000	–	3,843	–	0.07%	–
KMB	New	Kimberly Clark	$218,000	–	2,248	–	0.06%	–
HPQ	New	Hewlett-Packard	$213,000	–	8,600	–	0.06%	–
HSY	New	Hershey Foods	$214,000	–	2,400	–	0.06%	–
T	New	Amer Tel & Tel	$204,000	–	5,761	–	0.06%	–

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