BOWEN HANES & CO INC Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$90,040,537	-12.4%	525,907	-0.8%	3.03%	-8.0%
LLY	Sell	LILLY ELI & COMPANY	$81,995,580	+9.2%	152,655	-4.6%	2.76%	+14.7%
MSFT	Sell	MICROSOFT	$79,832,967	-7.9%	252,836	-0.7%	2.69%	-3.2%
COST	Sell	COSTCO WHOLESALE	$76,381,462	+3.5%	135,198	-1.4%	2.57%	+8.7%
TDY	Buy	TELEDYNE TECHNOLOGIES	$76,205,073	+0.0%	186,512	+0.6%	2.56%	+5.1%
NVDA	Buy	NVIDIA CORP COM	$72,682,479	+9.3%	167,090	+6.3%	2.45%	+14.8%
DE	Sell	DEERE & CO	$66,896,266	-7.0%	177,265	-0.2%	2.25%	-2.3%
HD	Buy	HOME DEPOT	$64,038,280	-2.6%	211,935	+0.1%	2.16%	+2.3%
GOOG	Buy	ALPHABET INC CLASS C	$62,223,839	+9.4%	471,929	+0.3%	2.09%	+14.9%
VRTX	Buy	VERTEX PHARMACEUTICALS	$60,993,596	+0.0%	175,400	+1.2%	2.05%	+5.1%
ZTS	Buy	ZOETIS	$60,368,798	+1.3%	346,987	+0.3%	2.03%	+6.5%
SPGI	Buy	S & P GLOBAL	$60,242,223	-8.8%	164,862	+0.1%	2.03%	-4.2%
TMO	Buy	THERMO FISHER SCIENTIFIC	$60,007,466	-0.9%	118,552	+2.2%	2.02%	+4.1%
AVY	Sell	AVERY DENNISON	$59,980,060	+0.7%	328,352	-5.3%	2.02%	+5.8%
PANW	Sell	PALO ALTO NETWORKS	$59,754,067	-10.9%	254,880	-2.9%	2.01%	-6.4%
UNP	Buy	UNION PACIFIC	$58,831,965	+0.3%	288,916	+0.8%	1.98%	+5.4%
TXN	Buy	TEXAS INSTRUMENTS	$57,786,301	-11.4%	363,413	+0.3%	1.94%	-6.9%
TTEK	Sell	TETRA TECH	$57,690,064	-7.2%	379,465	-0.1%	1.94%	-2.6%
PG	Buy	PROCTER & GAMBLE	$56,737,644	-2.5%	388,987	+1.4%	1.91%	+2.4%
MMC	Sell	MARSH & MCLENNAN	$56,466,767	-1.9%	296,725	-3.0%	1.90%	+3.1%
ADBE	Buy	ADOBE	$56,335,282	+4.3%	110,483	+0.0%	1.90%	+9.6%
ATI	Sell	ATI INC	$56,226,743	-9.9%	1,366,385	-3.2%	1.89%	-5.4%
ISRG	Sell	INTUITIVE SURGICAL	$54,462,396	-15.5%	186,330	-1.2%	1.83%	-11.3%
HON	Sell	HONEYWELL INT'L	$54,352,171	-14.3%	294,209	-3.8%	1.83%	-10.0%
ADP	Sell	AUTOMATIC DATA PROCESSING	$53,644,047	+4.7%	222,978	-4.4%	1.80%	+9.9%
V	Sell	VISA	$53,161,521	-3.3%	231,127	-0.2%	1.79%	+1.6%
AXP	Buy	AMERICAN EXPRESS	$51,830,545	-13.5%	347,413	+1.0%	1.74%	-9.2%
CHD	Sell	CHURCH AND DWIGHT	$51,397,682	-8.9%	560,926	-0.3%	1.73%	-4.2%
SCHW	Buy	CHARLES SCHWAB CORP	$49,815,985	+9.3%	907,395	+12.9%	1.68%	+14.9%
MKC	Sell	MCCORMICK & CO	$49,723,013	-24.8%	657,364	-13.3%	1.67%	-21.0%
NFLX	Buy	NETFLIX INC	$49,709,152	-6.1%	131,645	+9.5%	1.67%	-1.4%
BX	Buy	BLACKSTONE INC	$47,596,088	+30.2%	444,242	+13.0%	1.60%	+36.8%
LMT	Sell	LOCKHEED MARTIN	$47,342,028	-15.8%	115,762	-5.3%	1.59%	-11.6%
PEP	Buy	PEPSICO	$45,999,571	+8.3%	271,480	+18.4%	1.55%	+13.8%
BA	Buy	BOEING	$45,588,213	-9.1%	237,835	+0.2%	1.53%	-4.5%
MSI	Buy	MOTOROLA SOLUTIONS	$45,344,294	-7.1%	166,560	+0.1%	1.53%	-2.4%
CNQ	Buy	CANADIAN NATURAL RESOURCES ADR	$44,297,010	+15.0%	684,970	+0.0%	1.49%	+20.8%
JNJ	Sell	JOHNSON & JOHNSON	$42,909,125	-6.4%	275,500	-0.5%	1.44%	-1.6%
NDSN	Buy	NORDSON CORP	$37,691,628	-9.8%	168,892	+0.3%	1.27%	-5.2%
ACN	Sell	ACCENTURE LTD (IL)	$37,274,248	-2.9%	121,371	-2.5%	1.25%	+2.0%
ETN	Buy	EATON CORP (IL)	$37,043,750	+5124.2%	173,686	+4825.9%	1.25%	+5321.7%
SLB	Sell	SCHLUMBERGER LIMITED (NE)	$36,976,192	+17.9%	634,240	-0.7%	1.24%	+23.8%
MCK	Buy	MCKESSON CORP	$36,403,468	+9.6%	83,715	+7.7%	1.22%	+15.1%
SONY	Sell	SONY CORP (JP)	$34,257,343	-20.3%	415,694	-13.0%	1.15%	-16.3%
PLD	Buy	PROLOGIS	$27,907,749	+0.1%	248,710	+9.4%	0.94%	+5.2%
ITT	New	ITT INC	$26,087,140	–	266,440	–	0.88%	–
FICO	New	FAIR ISAAC CORP	$26,055,900	–	30,000	–	0.88%	–
WY	Buy	WEYERHAEUSER	$25,024,876	-5.0%	816,206	+3.8%	0.84%	-0.2%
BIP	Buy	BROOKFIELD INFRASTRUCTURE PARTunt	$21,965,563	-12.2%	747,128	+9.0%	0.74%	-7.7%
EPD	Buy	ENTERPRISE PRODUCTS PARTNERS L	$21,764,624	+12.9%	795,200	+8.7%	0.73%	+18.4%
BEP	Buy	BROOKFIELD RENEWABLE PARTNERSunt	$17,002,745	-12.9%	782,095	+18.1%	0.57%	-8.5%
CCJ	New	CAMECO (CA)	$15,856,000	–	400,000	–	0.53%	–
SPH	Buy	SUBURBAN PROPANE PARTNERS LPunt	$12,679,500	+11.3%	790,000	+2.6%	0.43%	+17.0%
AMT	New	AMERICAN TOWER CORP	$10,689,250	–	65,000	–	0.36%	–
EXR	New	EXTRA SPACE STORAGE	$10,668,645	–	87,750	–	0.36%	–
MA	Buy	MASTERCARD INC CL A	$10,125,398	+1.4%	25,575	+0.8%	0.34%	+6.6%
JPM	Buy	JPMORGAN CHASE	$5,486,832	+2.1%	37,835	+2.4%	0.18%	+7.6%
XYL	Buy	XYLEM	$5,474,362	-16.7%	60,138	+3.1%	0.18%	-12.8%
CSCO	Buy	CISCO SYSTEMS	$5,243,804	+6.5%	97,541	+2.5%	0.18%	+11.4%
UNH	Sell	UNITEDHEALTH GROUP	$4,559,390	-4.4%	9,043	-8.8%	0.15%	0.0%
WM	Sell	WASTE MANAGEMENT	$4,131,124	-91.5%	27,100	-90.3%	0.14%	-91.1%
UPS	Sell	UNITED PARCEL SERVICE	$3,850,924	-14.8%	24,706	-2.0%	0.13%	-10.3%
CVX	Buy	CHEVRON	$3,726,671	+12.8%	22,101	+5.3%	0.12%	+17.9%
PH	Sell	PARKER-HANNIFIN	$3,418,038	-0.2%	8,775	-0.1%	0.12%	+4.5%
CL	Sell	COLGATE PALMOLIVE	$3,299,277	-8.3%	46,397	-0.6%	0.11%	-3.5%
GLW	Sell	CORNING	$3,153,615	-14.2%	103,499	-1.3%	0.11%	-10.2%
FMC	Sell	FMC CORP	$3,083,567	-39.0%	46,044	-4.9%	0.10%	-35.8%
	Sell	CANADIAN PACIFIC KANSAS CITY L	$3,054,084	-9.6%	41,044	-1.9%	0.10%	-4.6%
EMR	Buy	EMERSON ELECTRIC	$2,868,129	+9.4%	29,700	+2.4%	0.10%	+15.5%
MCD	Buy	MCDONALD'S	$2,657,846	+3.1%	10,089	+16.8%	0.09%	+7.2%
ADM	Buy	ARCHER-DANIELS MIDLAND	$2,649,806	+6.4%	35,134	+6.6%	0.09%	+11.2%
NSRGY	Sell	NESTLE SA ADR (SZ)	$2,381,889	-24.4%	21,047	-19.6%	0.08%	-20.8%
NEE	Buy	NEXTERA ENERGY	$2,369,858	-17.5%	41,366	+6.8%	0.08%	-13.0%
PFE	Buy	PFIZER	$2,359,349	-3.0%	71,129	+7.2%	0.08%	+1.3%
ROK	Sell	ROCKWELL AUTOMATION	$1,983,652	-17.4%	6,939	-4.8%	0.07%	-13.0%
AMZN	Buy	AMAZON.COM INC	$1,803,706	+0.6%	14,189	+3.1%	0.06%	+7.0%
AWK	Buy	AMERICAN WATER WORKS	$1,709,102	-4.5%	13,802	+10.0%	0.06%	+1.8%
KMB	Buy	KIMBERLY-CLARK	$1,699,634	-8.7%	14,064	+4.3%	0.06%	-5.0%
MDT	Sell	MEDTRONIC PLC (IL)	$1,645,011	-27.5%	20,993	-18.5%	0.06%	-24.7%
CB	Buy	CHUBB LTD (SZ)	$1,567,595	+11.1%	7,530	+2.7%	0.05%	+17.8%
VZ	Buy	VERIZON COMMUNICATIONS	$1,551,467	-10.1%	47,870	+3.2%	0.05%	-5.5%
IBM	Buy	IBM	$1,416,328	+5.6%	10,095	+0.7%	0.05%	+11.6%
APD	Buy	AIR PRODUCTS AND CHEMICALS	$1,276,434	+6.3%	4,504	+12.3%	0.04%	+13.2%
BEPC	Buy	BROOKFIELD RENEWABLE CORP-A (C	$1,195,013	-20.1%	49,917	+5.2%	0.04%	-16.7%
NEM	Sell	NEWMONT CORP	$1,138,984	-17.9%	30,825	-5.3%	0.04%	-13.6%
DIS	Sell	WALT DISNEY	$1,025,282	-83.5%	12,650	-81.9%	0.04%	-82.5%
VRT	Sell	VERTIV HOLDINGS	$1,041,600	+7.8%	28,000	-28.2%	0.04%	+12.9%
	Sell	GE HEALTHCARE TECHNOLOGIES INC	$925,480	-42.3%	13,602	-31.1%	0.03%	-39.2%
IP	Sell	INT'L PAPER	$795,592	-5.9%	22,430	-15.6%	0.03%	0.0%
LOW	Sell	LOWE'S COMPANIES	$617,285	-8.5%	2,970	-0.7%	0.02%	-4.5%
SNA	Buy	SNAP-ON	$553,480	+2.7%	2,170	+16.0%	0.02%	+11.8%
CCI	Sell	CROWN CASTLE INT'L	$524,019	-57.0%	5,694	-46.7%	0.02%	-53.8%
DUK	Sell	DUKE ENERGY CORP NEW	$493,638	-1.9%	5,593	-0.3%	0.02%	+6.2%
NEP	Sell	NEXTERA ENERGY PARTNERS LP	$418,770	-97.9%	14,100	-95.9%	0.01%	-97.8%
HSY	Buy	HERSHEY	$370,148	+68.5%	1,850	+110.2%	0.01%	+71.4%
GILD	Sell	GILEAD SCIENCES	$289,643	-60.7%	3,865	-59.6%	0.01%	-58.3%
MMM	New	3M COMPANY	$274,119	–	2,928	–	0.01%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-800	–	-0.01%	–
OLN	Exit	OLIN	$0	–	-4,000	–	-0.01%	–
OMC	Exit	OMNICOM GROUP	$0	–	-2,500	–	-0.01%	–
AMT	Exit	AMERICAN TOWER CORP CL A	$0	–	-60,000	–	-0.37%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQUITIE	$0	–	-150,000	–	-0.54%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-355,145	–	-1.07%	–
TKR	Exit	TIMKEN	$0	–	-460,110	–	-1.35%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$102,829,704	–	530,132	–	3.29%	–
MSFT	New	MICROSOFT	$86,685,479	–	254,553	–	2.78%	–
TDY	New	TELEDYNE TECHNOLOGIES	$76,192,250	–	185,333	–	2.44%	–
LLY	New	LILLY ELI & COMPANY	$75,071,973	–	160,075	–	2.40%	–
COST	New	COSTCO WHOLESALE	$73,801,669	–	137,081	–	2.36%	–
DE	New	DEERE & CO	$71,944,321	–	177,557	–	2.30%	–
PANW	New	PALO ALTO NETWORKS	$67,071,375	–	262,500	–	2.15%	–
NVDA	New	NVIDIA CORP COM	$66,515,665	–	157,240	–	2.13%	–
MKC	New	MCCORMICK & CO	$66,101,062	–	757,779	–	2.12%	–
SPGI	New	S & P GLOBAL	$66,045,425	–	164,747	–	2.12%	–
HD	New	HOME DEPOT	$65,764,973	–	211,708	–	2.11%	–
TXN	New	TEXAS INSTRUMENTS	$65,244,289	–	362,428	–	2.09%	–
ISRG	New	INTUITIVE SURGICAL	$64,488,174	–	188,595	–	2.07%	–
HON	New	HONEYWELL INT'L	$63,430,467	–	305,689	–	2.03%	–
ATI	New	ATI INC	$62,433,078	–	1,411,555	–	2.00%	–
TTEK	New	TETRA TECH	$62,189,271	–	379,805	–	1.99%	–
VRTX	New	VERTEX PHARMACEUTICALS	$60,982,484	–	173,290	–	1.95%	–
TMO	New	THERMO FISHER SCIENTIFIC	$60,539,174	–	116,031	–	1.94%	–
AXP	New	AMERICAN EXPRESS	$59,929,678	–	344,028	–	1.92%	–
ZTS	New	ZOETIS	$59,579,666	–	345,971	–	1.91%	–
AVY	New	AVERY DENNISON	$59,549,660	–	346,622	–	1.91%	–
UNP	New	UNION PACIFIC	$58,670,079	–	286,727	–	1.88%	–
PG	New	PROCTER & GAMBLE	$58,216,113	–	383,657	–	1.86%	–
MMC	New	MARSH & MCLENNAN	$57,548,718	–	305,980	–	1.84%	–
GOOG	New	ALPHABET INC CLASS C	$56,901,143	–	470,374	–	1.82%	–
CHD	New	CHURCH AND DWIGHT	$56,399,356	–	562,699	–	1.81%	–
LMT	New	LOCKHEED MARTIN	$56,251,991	–	122,186	–	1.80%	–
V	New	VISA	$54,984,932	–	231,535	–	1.76%	–
ADBE	New	ADOBE	$54,005,523	–	110,443	–	1.73%	–
NFLX	New	NETFLIX INC	$52,946,898	–	120,200	–	1.70%	–
ADP	New	AUTOMATIC DATA PROCESSING	$51,254,588	–	233,198	–	1.64%	–
BA	New	BOEING	$50,143,109	–	237,465	–	1.61%	–
MSI	New	MOTOROLA SOLUTIONS	$48,803,258	–	166,405	–	1.56%	–
WM	New	WASTE MANAGEMENT	$48,553,438	–	279,976	–	1.56%	–
JNJ	New	JOHNSON & JOHNSON	$45,848,212	–	276,995	–	1.47%	–
SCHW	New	CHARLES SCHWAB CORP	$45,563,238	–	803,868	–	1.46%	–
SONY	New	SONY CORP (JP)	$43,004,815	–	477,619	–	1.38%	–
PEP	New	PEPSICO	$42,454,647	–	229,212	–	1.36%	–
TKR	New	TIMKEN	$42,113,868	–	460,110	–	1.35%	–
NDSN	New	NORDSON CORP	$41,789,045	–	168,382	–	1.34%	–
CNQ	New	CANADIAN NATURAL RESOURCES ADR	$38,528,817	–	684,835	–	1.23%	–
ACN	New	ACCENTURE LTD (IL)	$38,398,461	–	124,436	–	1.23%	–
BX	New	BLACKSTONE INC	$36,552,271	–	393,162	–	1.17%	–
LULU	New	LULULEMON ATHLETICA	$35,957,500	–	95,000	–	1.15%	–
EW	New	EDWARDS LIFESCIENCES	$33,500,828	–	355,145	–	1.07%	–
PSTG	New	PURE STORAGE	$33,366,100	–	906,195	–	1.07%	–
MCK	New	MCKESSON CORP	$33,219,079	–	77,740	–	1.06%	–
SLB	New	SCHLUMBERGER LIMITED (NE)	$31,366,558	–	638,570	–	1.00%	–
WELL	New	WELLTOWER	$28,387,779	–	350,943	–	0.91%	–
PLD	New	PROLOGIS	$27,877,478	–	227,330	–	0.89%	–
WY	New	WEYERHAEUSER	$26,347,841	–	786,268	–	0.84%	–
TSLA	New	TESLA MOTORS INC	$26,177,000	–	100,000	–	0.84%	–
SUN	New	SUNOCO LP	$26,136,000	–	600,000	–	0.84%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$25,016,297	–	685,378	–	0.80%	–
EQIX	New	EQUINIX	$23,518,200	–	30,000	–	0.75%	–
NEP	New	NEXTERA ENERGY PARTNERS LP	$20,116,452	–	343,050	–	0.64%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERSunt	$19,527,393	–	662,170	–	0.62%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS L	$19,280,295	–	731,700	–	0.62%	–
ARE	New	ALEXANDRIA REAL ESTATE EQUITIE	$17,023,500	–	150,000	–	0.54%	–
AMT	New	AMERICAN TOWER CORP CL A	$11,636,400	–	60,000	–	0.37%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPunt	$11,396,000	–	770,000	–	0.36%	–
LAND	New	GLADSTONE LAND CORP	$10,891,138	–	669,400	–	0.35%	–
MA	New	MASTERCARD INC CL A	$9,981,954	–	25,380	–	0.32%	–
XYL	New	XYLEM	$6,572,278	–	58,358	–	0.21%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$6,511,387	–	53,782	–	0.21%	–
DIS	New	WALT DISNEY	$6,230,851	–	69,790	–	0.20%	–
JPM	New	JPMORGAN CHASE	$5,373,135	–	36,944	–	0.17%	–
FMC	New	FMC CORP	$5,052,038	–	48,419	–	0.16%	–
CSCO	New	CISCO SYSTEMS	$4,925,182	–	95,191	–	0.16%	–
UNH	New	UNITEDHEALTH GROUP	$4,766,988	–	9,918	–	0.15%	–
UPS	New	UNITED PARCEL SERVICE	$4,517,817	–	25,204	–	0.14%	–
GLW	New	CORNING	$3,673,909	–	104,849	–	0.12%	–
CL	New	COLGATE PALMOLIVE	$3,596,521	–	46,684	–	0.12%	–
PH	New	PARKER-HANNIFIN	$3,426,501	–	8,785	–	0.11%	–
	New	CANADIAN PACIFIC KANSAS CITY L	$3,380,224	–	41,850	–	0.11%	–
CVX	New	CHEVRON	$3,302,934	–	20,991	–	0.11%	–
NSRGY	New	NESTLE SA ADR (SZ)	$3,150,041	–	26,174	–	0.10%	–
WMT	New	WALMART	$2,962,057	–	18,845	–	0.10%	–
LHX	New	L3HARRIS	$2,905,227	–	14,840	–	0.09%	–
NEE	New	NEXTERA ENERGY	$2,873,840	–	38,731	–	0.09%	–
EMR	New	EMERSON ELECTRIC	$2,621,310	–	29,000	–	0.08%	–
MCD	New	MCDONALD'S	$2,577,964	–	8,639	–	0.08%	–
ADM	New	ARCHER-DANIELS MIDLAND	$2,490,382	–	32,959	–	0.08%	–
PFE	New	PFIZER	$2,432,948	–	66,329	–	0.08%	–
ROK	New	ROCKWELL AUTOMATION	$2,400,373	–	7,286	–	0.08%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$2,361,757	–	54,645	–	0.08%	–
MDT	New	MEDTRONIC PLC (IL)	$2,268,399	–	25,748	–	0.07%	–
CAT	New	CATERPILLAR	$1,987,838	–	8,079	–	0.06%	–
VMC	New	VULCAN MATERIALS	$1,949,605	–	8,648	–	0.06%	–
KMB	New	KIMBERLY-CLARK	$1,861,601	–	13,484	–	0.06%	–
AMZN	New	AMAZON.COM INC	$1,793,623	–	13,759	–	0.06%	–
AWK	New	AMERICAN WATER WORKS	$1,790,370	–	12,542	–	0.06%	–
KO	New	COCA-COLA	$1,742,887	–	28,942	–	0.06%	–
VZ	New	VERIZON COMMUNICATIONS	$1,725,244	–	46,390	–	0.06%	–
	New	GE HEALTHCARE TECHNOLOGIES INC	$1,603,759	–	19,741	–	0.05%	–
BEPC	New	BROOKFIELD RENEWABLE CORP-A (C	$1,495,971	–	47,461	–	0.05%	–
CB	New	CHUBB LTD (SZ)	$1,411,465	–	7,330	–	0.04%	–
NEM	New	NEWMONT CORP	$1,387,943	–	32,535	–	0.04%	–
IBM	New	IBM	$1,341,445	–	10,025	–	0.04%	–
GOOGL	New	ALPHABET INC CLASS A	$1,316,101	–	10,995	–	0.04%	–
BDX	New	BECTON DICKINSON & CO	$1,267,248	–	4,800	–	0.04%	–
CCI	New	CROWN CASTLE INT'L	$1,217,905	–	10,689	–	0.04%	–
APD	New	AIR PRODUCTS AND CHEMICALS	$1,200,816	–	4,009	–	0.04%	–
TT	New	TRANE TECHNOLOGIES PLC (IL)	$1,144,691	–	5,985	–	0.04%	–
FDX	New	FEDEX CORPORATION	$1,066,218	–	4,301	–	0.03%	–
ORCL	New	ORACLE CORP COM	$960,461	–	8,065	–	0.03%	–
VRT	New	VERTIV HOLDINGS	$966,030	–	39,000	–	0.03%	–
IP	New	INT'L PAPER	$845,510	–	26,580	–	0.03%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$791,406	–	6,300	–	0.02%	–
STT	New	STATE STREET	$737,142	–	10,073	–	0.02%	–
GILD	New	GILEAD SCIENCES	$737,175	–	9,565	–	0.02%	–
ETN	New	EATON CORP (IL)	$709,079	–	3,526	–	0.02%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$728,933	–	14,567	–	0.02%	–
EFX	New	EQUIFAX	$671,546	–	2,854	–	0.02%	–
LOW	New	LOWE'S COMPANIES	$674,843	–	2,990	–	0.02%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$701,845	–	37,115	–	0.02%	–
NSC	New	NORFOLK SOUTHERN	$583,907	–	2,575	–	0.02%	–
CMI	New	CUMMINS INC	$588,384	–	2,400	–	0.02%	–
BHP	New	BHP GROUP LTD (AU)	$575,815	–	9,650	–	0.02%	–
RHHBY	New	ROCHE HOLDING AG (SZ)	$521,048	–	13,640	–	0.02%	–
SNA	New	SNAP-ON	$538,915	–	1,870	–	0.02%	–
RTX	New	RTX CORP	$523,498	–	5,344	–	0.02%	–
GNRC	New	GENERAC HOLDINGS	$502,568	–	3,370	–	0.02%	–
DUK	New	DUKE ENERGY CORP NEW	$503,262	–	5,608	–	0.02%	–
ABBV	New	ABBVIE INC	$480,312	–	3,565	–	0.02%	–
DD	New	DUPONT DE NEMOURS	$359,772	–	5,036	–	0.01%	–
XOM	New	EXXON MOBIL	$363,148	–	3,386	–	0.01%	–
AON	New	AON PLC	$383,172	–	1,110	–	0.01%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG (TW)	$332,027	–	3,290	–	0.01%	–
ABT	New	ABBOTT LABORATORIES	$301,985	–	2,770	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$324,218	–	4,445	–	0.01%	–
IR	New	INGERSOLL RAND (IL)	$279,545	–	4,277	–	0.01%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CORP	$292,213	–	6,411	–	0.01%	–
DOW	New	DOW INC	$287,657	–	5,401	–	0.01%	–
NICE	New	NICE SYS LTD	$289,100	–	1,400	–	0.01%	–
SBUX	New	STARBUCKS CORPORATION	$269,542	–	2,721	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$264,243	–	2,290	–	0.01%	–
COF	New	CAPITAL ONE FINANCIAL CP	$237,770	–	2,174	–	0.01%	–
OMC	New	OMNICOM GROUP	$237,875	–	2,500	–	0.01%	–
HSY	New	HERSHEY	$219,736	–	880	–	0.01%	–
OLN	New	OLIN	$205,560	–	4,000	–	0.01%	–
ADSK	New	AUTODESK INC COM	$204,610	–	1,000	–	0.01%	–
ITW	New	ILLINOIS TOOL WORKS	$200,128	–	800	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
F	Exit	FORD MOTOR	$0	–	-10,000	–	-0.00%	–
EL	Exit	ESTEE LAUDER	$0	–	-954	–	-0.01%	–
NEOG	Exit	NEOGEN CORP COM	$0	–	-15,041	–	-0.01%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-2,345	–	-0.01%	–
TM	Exit	TOYOTA MOTOR (JP)	$0	–	-1,600	–	-0.01%	–
COF	Exit	CAPITAL ONE FINANCIAL CP	$0	–	-2,174	–	-0.01%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG (TW)	$0	–	-3,330	–	-0.01%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-2,010	–	-0.01%	–
ETN	Exit	EATON CORP	$0	–	-1,942	–	-0.01%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-2,770	–	-0.01%	–
DLR	Exit	DIGITAL REALTY TRUST	$0	–	-2,495	–	-0.01%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-6,348	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-5,305	–	-0.01%	–
AON	Exit	AON PLC	$0	–	-1,110	–	-0.01%	–
XOM	Exit	EXXON MOBIL	$0	–	-3,411	–	-0.01%	–
AKAM	Exit	AKAMAI TECHNOLOGIES	$0	–	-4,100	–	-0.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-2,730	–	-0.01%	–
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CORP	$0	–	-9,670	–	-0.02%	–
SNA	Exit	SNAP-ON	$0	–	-2,020	–	-0.02%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-5,025	–	-0.02%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-5,344	–	-0.02%	–
DOW	Exit	DOW INC	$0	–	-9,797	–	-0.02%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-8,065	–	-0.02%	–
CMI	Exit	CUMMINS INC	$0	–	-2,400	–	-0.02%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-10,344	–	-0.02%	–
BHP	Exit	BHP GROUP LTD (AU)	$0	–	-10,175	–	-0.02%	–
LOW	Exit	LOWE'S COMPANIES	$0	–	-3,000	–	-0.02%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-6,312	–	-0.02%	–
RHHBY	Exit	ROCHE HOLDING AG (SZ)	$0	–	-15,600	–	-0.02%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-9,540	–	-0.03%	–
STT	Exit	STATE STREET	$0	–	-11,343	–	-0.03%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-6,550	–	-0.03%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-47,165	–	-0.03%	–
CVX	Exit	CHEVRON	$0	–	-5,721	–	-0.03%	–
EFX	Exit	EQUIFAX	$0	–	-4,838	–	-0.03%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-5,651	–	-0.03%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-33,864	–	-0.03%	–
TT	Exit	TRANE TECHNOLOGIES PLC (IL)	$0	–	-5,985	–	-0.03%	–
APD	Exit	AIR PRODUCTS AND CHEMICALS	$0	–	-4,009	–	-0.04%	–
ADBE	Exit	ADOBE	$0	–	-3,568	–	-0.04%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-6,274	–	-0.04%	–
VRT	Exit	VERTIV HOLDINGS	$0	–	-103,350	–	-0.04%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-4,865	–	-0.04%	–
CB	Exit	CHUBB LTD (SZ)	$0	–	-5,700	–	-0.04%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-22,356	–	-0.04%	–
GOOGL	Exit	ALPHABET INC CLASS A	$0	–	-10,995	–	-0.04%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-12,251	–	-0.04%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-5,017	–	-0.04%	–
IP	Exit	INT'L PAPER	$0	–	-42,000	–	-0.05%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-6,509	–	-0.05%	–
BEPC	Exit	BROOKFIELD RENEWABLE CORP-A (C	$0	–	-44,565	–	-0.06%	–
WPM	Exit	WHEATON PRECIOUS METALS (CA)	$0	–	-46,445	–	-0.06%	–
NEM	Exit	NEWMONT CORP	$0	–	-37,130	–	-0.06%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-14,334	–	-0.06%	–
KO	Exit	COCA-COLA	$0	–	-29,042	–	-0.06%	–
AWK	Exit	AMERICAN WATER WORKS	$0	–	-13,082	–	-0.07%	–
TFC	Exit	TRUIST FINANCIAL CORP	$0	–	-38,915	–	-0.07%	–
MCD	Exit	MCDONALD'S	$0	–	-7,682	–	-0.07%	–
CAT	Exit	CATERPILLAR	$0	–	-11,939	–	-0.08%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-23,733	–	-0.08%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-53,031	–	-0.08%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-8,835	–	-0.08%	–
WMT	Exit	WALMART	$0	–	-16,895	–	-0.08%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-29,370	–	-0.09%	–
PFE	Exit	PFIZER	$0	–	-57,299	–	-0.10%	–
MMM	Exit	3M COMPANY	$0	–	-23,296	–	-0.10%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-37,350	–	-0.11%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-43,000	–	-0.11%	–
LHX	Exit	L3HARRIS	$0	–	-16,123	–	-0.13%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-43,411	–	-0.13%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-43,588	–	-0.14%	–
UPS	Exit	UNITED PARCEL SERVICE	$0	–	-21,994	–	-0.14%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-98,234	–	-0.14%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-52,935	–	-0.14%	–
GLW	Exit	CORNING	$0	–	-153,959	–	-0.17%	–
XYL	Exit	XYLEM	$0	–	-54,968	–	-0.19%	–
FMC	Exit	FMC CORP	$0	–	-49,764	–	-0.20%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-57,302	–	-0.24%	–
MA	Exit	MASTERCARD INC CL A	$0	–	-24,990	–	-0.28%	–
LSI	Exit	LIFE STORAGE	$0	–	-65,800	–	-0.28%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-68,589	–	-0.28%	–
PEP	Exit	PEPSICO	$0	–	-45,318	–	-0.29%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPunt	$0	–	-725,000	–	-0.42%	–
LAND	Exit	GLADSTONE LAND CORP	$0	–	-630,000	–	-0.44%	–
NOK	Exit	NOKIA (FI)	$0	–	-3,443,390	–	-0.57%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS L	$0	–	-629,700	–	-0.58%	–
EQIX	Exit	EQUINIX	$0	–	-28,000	–	-0.62%	–
SLB	Exit	SCHLUMBERGER LIMITED (NE)	$0	–	-475,000	–	-0.66%	–
VIAV	Exit	VIAVI SOLUTIONS	$0	–	-1,400,000	–	-0.71%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQUITIE	$0	–	-138,000	–	-0.75%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-134,699	–	-0.75%	–
BEP	Exit	BROOKFIELD RENEWABLE PARTNERSunt	$0	–	-632,045	–	-0.76%	–
NVDA	Exit	NVIDIA CORP COM	$0	–	-171,405	–	-0.80%	–
WY	Exit	WEYERHAEUSER	$0	–	-739,648	–	-0.82%	–
WELL	Exit	WELLTOWER	$0	–	-328,943	–	-0.82%	–
PLD	Exit	PROLOGIS	$0	–	-221,110	–	-0.87%	–
PSTG	Exit	PURE STORAGE	$0	–	-825,000	–	-0.87%	–
SUN	Exit	SUNOCO LP	$0	–	-600,000	–	-0.90%	–
NEP	Exit	NEXTERA ENERGY PARTNERS LP	$0	–	-344,350	–	-0.96%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-714,065	–	-0.99%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-246,320	–	-1.00%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-228,674	–	-1.00%	–
IBM	Exit	IBM	$0	–	-221,950	–	-1.02%	–
LULU	Exit	LULULEMON ATHLETICA	$0	–	-95,000	–	-1.03%	–
PLUG	Exit	PLUG POWER	$0	–	-1,276,340	–	-1.04%	–
SONY	Exit	SONY CORP (JP)	$0	–	-427,139	–	-1.06%	–
CNQ	Exit	CANADIAN NATURAL RESOURCES ADR	$0	–	-625,235	–	-1.13%	–
GNRC	Exit	GENERAC HOLDINGS	$0	–	-167,765	–	-1.16%	–
BA	Exit	BOEING	$0	–	-248,335	–	-1.16%	–
MSI	Exit	MOTOROLA SOLUTIONS	$0	–	-140,125	–	-1.21%	–
ISRG	Exit	INTUITIVE SURGICAL	$0	–	-173,420	–	-1.26%	–
ACN	Exit	ACCENTURE LTD (IL)	$0	–	-133,036	–	-1.32%	–
NDSN	Exit	NORDSON CORP	$0	–	-162,317	–	-1.33%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-276,140	–	-1.44%	–
DIS	Exit	WALT DISNEY	$0	–	-402,310	–	-1.47%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-258,318	–	-1.49%	–
ADM	Exit	ARCHER-DANIELS MIDLAND	$0	–	-484,169	–	-1.51%	–
ATI	Exit	ATI INC	$0	–	-1,494,165	–	-1.54%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-559,424	–	-1.54%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-250,509	–	-1.59%	–
V	Exit	VISA	$0	–	-231,933	–	-1.59%	–
BX	Exit	BLACKSTONE INC	$0	–	-509,202	–	-1.65%	–
UNH	Exit	UNITEDHEALTH GROUP	$0	–	-90,424	–	-1.77%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-476,589	–	-1.77%	–
WM	Exit	WASTE MANAGEMENT	$0	–	-293,312	–	-1.82%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-296,013	–	-1.87%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-384,693	–	-1.88%	–
ZTS	Exit	ZOETIS	$0	–	-327,777	–	-1.88%	–
TTEK	Exit	TETRA TECH	$0	–	-380,315	–	-1.89%	–
MKC	Exit	MCCORMICK & CO	$0	–	-686,273	–	-1.89%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-127,094	–	-1.90%	–
SPGI	Exit	S & P GLOBAL	$0	–	-164,362	–	-1.94%	–
HON	Exit	HONEYWELL INT'L	$0	–	-311,758	–	-2.01%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-181,010	–	-2.03%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-232,555	–	-2.03%	–
LLY	Exit	LILLY ELI & COMPANY	$0	–	-170,659	–	-2.13%	–
UNP	Exit	UNION PACIFIC	$0	–	-286,502	–	-2.16%	–
AVY	Exit	AVERY DENNISON	$0	–	-345,009	–	-2.17%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-363,755	–	-2.18%	–
HD	Exit	HOME DEPOT	$0	–	-209,955	–	-2.24%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-115,028	–	-2.26%	–
DE	Exit	DEERE & CO	$0	–	-180,474	–	-2.33%	–
MSFT	Exit	MICROSOFT	$0	–	-258,961	–	-2.33%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-183,878	–	-2.40%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-135,663	–	-2.48%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-911,610	–	-2.53%	–
AAPL	Exit	APPLE INC	$0	–	-554,070	–	-2.96%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$76,572,000	-1.0%	554,070	-2.1%	2.96%	+5.6%
SCHW	Buy	CHARLES SCHWAB CORP	$65,517,000	+14.0%	911,610	+0.2%	2.53%	+21.5%
COST	Buy	COSTCO WHOLESALE	$64,070,000	-1.1%	135,663	+0.4%	2.48%	+5.4%
TDY	Buy	TELEDYNE TECHNOLOGIES	$62,053,000	-10.0%	183,878	+0.0%	2.40%	-4.0%
MSFT	Sell	MICROSOFT	$60,312,000	-11.1%	258,961	-1.9%	2.33%	-5.2%
DE	Buy	DEERE & CO	$60,258,000	+11.5%	180,474	+0.0%	2.33%	+18.9%
TMO	Sell	THERMO FISHER SCIENTIFIC	$58,341,000	-11.2%	115,028	-4.9%	2.26%	-5.3%
HD	Buy	HOME DEPOT	$57,935,000	+4.2%	209,955	+3.6%	2.24%	+11.2%
TXN	Sell	TEXAS INSTRUMENTS	$56,302,000	+0.5%	363,755	-0.2%	2.18%	+7.1%
AVY	Sell	AVERY DENNISON	$56,133,000	-2.3%	345,009	-2.8%	2.17%	+4.2%
UNP	Sell	UNION PACIFIC	$55,816,000	-8.8%	286,502	-0.2%	2.16%	-2.8%
LLY	Buy	LILLY ELI & COMPANY	$55,183,000	+0.6%	170,659	+0.9%	2.13%	+7.3%
ADP	Sell	AUTOMATIC DATA PROCESSING	$52,602,000	+7.4%	232,555	-0.2%	2.03%	+14.5%
VRTX	Sell	VERTEX PHARMACEUTICALS	$52,410,000	-2.9%	181,010	-5.5%	2.03%	+3.6%
HON	Sell	HONEYWELL INT'L	$52,054,000	-12.7%	311,758	-9.2%	2.01%	-6.9%
SPGI	Sell	S & P GLOBAL	$50,188,000	-12.1%	164,362	-2.9%	1.94%	-6.2%
LMT	Sell	LOCKHEED MARTIN	$49,095,000	-10.3%	127,094	-0.2%	1.90%	-4.4%
MKC	Sell	MCCORMICK & CO	$48,911,000	-14.9%	686,273	-0.6%	1.89%	-9.3%
TTEK	Sell	TETRA TECH	$48,882,000	-6.0%	380,315	-0.2%	1.89%	+0.2%
ZTS	Buy	ZOETIS	$48,606,000	-8.7%	327,777	+5.9%	1.88%	-2.6%
PG	Sell	PROCTER & GAMBLE	$48,567,000	-14.8%	384,693	-2.9%	1.88%	-9.1%
JNJ	Buy	JOHNSON & JOHNSON	$48,357,000	-6.6%	296,013	+1.5%	1.87%	-0.4%
WM	Buy	WASTE MANAGEMENT	$46,992,000	+14.9%	293,312	+9.7%	1.82%	+22.5%
GOOG	Buy	ALPHABET INC CLASS C	$45,824,000	-12.3%	476,589	+1895.8%	1.77%	-6.4%
UNH	Buy	UNITEDHEALTH GROUP	$45,668,000	-1.6%	90,424	+0.1%	1.77%	+4.9%
BX	Sell	BLACKSTONE INC	$42,620,000	-16.8%	509,202	-9.3%	1.65%	-11.3%
V	Buy	VISA	$41,203,000	-9.7%	231,933	+0.1%	1.59%	-3.7%
PANW	Buy	PALO ALTO NETWORKS	$41,031,000	+15.6%	250,509	+248.6%	1.59%	+23.3%
CHD	Buy	CHURCH AND DWIGHT	$39,965,000	-22.9%	559,424	+0.0%	1.54%	-17.8%
ATI	Sell	ATI INC	$39,760,000	+17.2%	1,494,165	-0.0%	1.54%	+24.9%
ADM	Sell	ARCHER-DANIELS MIDLAND	$38,951,000	+3.1%	484,169	-0.6%	1.51%	+9.8%
MMC	Buy	MARSH & MCLENNAN	$38,564,000	+3425.0%	258,318	+3564.6%	1.49%	+3627.5%
DIS	Buy	WALT DISNEY	$37,950,000	+3.6%	402,310	+3.7%	1.47%	+10.5%
AXP	Buy	AMERICAN EXPRESS	$37,254,000	+4.7%	276,140	+7.6%	1.44%	+11.6%
NDSN	Buy	NORDSON CORP	$34,455,000	+4.9%	162,317	+0.0%	1.33%	+11.7%
ACN	Buy	ACCENTURE LTD (IL)	$34,230,000	+1.3%	133,036	+9.4%	1.32%	+8.1%
ISRG	Buy	INTUITIVE SURGICAL	$32,506,000	+10.6%	173,420	+18.4%	1.26%	+17.9%
MSI	New	MOTOROLA SOLUTIONS	$31,384,000	–	140,125	–	1.21%	–
BA	Buy	BOEING	$30,068,000	+20.0%	248,335	+35.6%	1.16%	+28.1%
GNRC	Buy	GENERAC HOLDINGS	$29,886,000	+590.0%	167,765	+715.8%	1.16%	+636.3%
CNQ	Sell	CANADIAN NATURAL RESOURCES ADR	$29,117,000	-39.1%	625,235	-29.8%	1.13%	-35.1%
SONY	Buy	SONY CORP (JP)	$27,358,000	-19.8%	427,139	+2.4%	1.06%	-14.5%
PLUG	Sell	PLUG POWER	$26,816,000	+26.7%	1,276,340	-0.0%	1.04%	+35.2%
LULU	Buy	LULULEMON ATHLETICA	$26,558,000	+8.2%	95,000	+5.6%	1.03%	+15.4%
IBM	Sell	IBM	$26,370,000	-19.1%	221,950	-3.9%	1.02%	-13.7%
AMZN	Buy	AMAZON.COM INC	$25,840,000	+43.1%	228,674	+34.5%	1.00%	+52.5%
JPM	Sell	JPMORGAN CHASE	$25,740,000	-46.6%	246,320	-42.5%	1.00%	-43.1%
BIP	Buy	BROOKFIELD INFRASTRUCTURE PARTunt	$25,635,000	-6.0%	714,065	+0.1%	0.99%	+0.2%
NEP	Buy	NEXTERA ENERGY PARTNERS LP	$24,900,000	-2.4%	344,350	+0.1%	0.96%	+4.1%
PSTG	New	PURE STORAGE	$22,580,000	–	825,000	–	0.87%	–
PLD	Sell	PROLOGIS	$22,465,000	-15.0%	221,110	-1.6%	0.87%	-9.4%
WELL	Sell	WELLTOWER	$21,158,000	-22.7%	328,943	-1.0%	0.82%	-17.5%
WY	Sell	WEYERHAEUSER	$21,124,000	-14.8%	739,648	-1.2%	0.82%	-9.1%
NVDA	Sell	NVIDIA CORP COM	$20,807,000	-37.6%	171,405	-22.1%	0.80%	-33.4%
BEP	Sell	BROOKFIELD RENEWABLE PARTNERSunt	$19,783,000	-12.7%	632,045	-2.9%	0.76%	-6.9%
CCI	Buy	CROWN CASTLE INT'L	$19,471,000	-7.0%	134,699	+8.4%	0.75%	-0.8%
ARE	Buy	ALEXANDRIA REAL ESTATE EQUITIE	$19,346,000	+6.7%	138,000	+10.4%	0.75%	+13.9%
VIAV	Sell	VIAVI SOLUTIONS	$18,270,000	-26.7%	1,400,000	-25.7%	0.71%	-21.9%
SLB	Buy	SCHLUMBERGER LIMITED (NE)	$17,052,000	+19.2%	475,000	+18.8%	0.66%	+27.0%
NOK	Sell	NOKIA (FI)	$14,703,000	-19.1%	3,443,390	-12.7%	0.57%	-13.7%
PEP	Sell	PEPSICO	$7,399,000	-19.4%	45,318	-17.7%	0.29%	-14.1%
NSRGY	Sell	NESTLE SA ADR (SZ)	$7,381,000	-11.5%	68,589	-4.3%	0.28%	-5.6%
LSI	Sell	LIFE STORAGE	$7,288,000	-48.5%	65,800	-48.1%	0.28%	-45.0%
MA	Sell	MASTERCARD INC CL A	$7,106,000	-10.5%	24,990	-0.7%	0.28%	-4.5%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$6,188,000	-9.1%	57,302	-5.3%	0.24%	-3.2%
FMC	Sell	FMC CORP	$5,260,000	-13.0%	49,764	-11.9%	0.20%	-7.3%
XYL	Sell	XYLEM	$4,802,000	+3.5%	54,968	-7.4%	0.19%	+10.7%
GLW	Sell	CORNING	$4,468,000	-69.3%	153,959	-66.7%	0.17%	-67.2%
VZ	Sell	VERIZON COMMUNICATIONS	$3,730,000	-26.1%	98,234	-1.2%	0.14%	-21.3%
CL	Sell	COLGATE PALMOLIVE	$3,719,000	-34.3%	52,935	-25.1%	0.14%	-29.8%
UPS	Sell	UNITED PARCEL SERVICE	$3,553,000	-11.6%	21,994	-0.1%	0.14%	-6.2%
MDT	Buy	MEDTRONIC PLC (IL)	$3,520,000	+50.4%	43,588	+67.2%	0.14%	+60.0%
NEE	Sell	NEXTERA ENERGY	$3,404,000	-13.4%	43,411	-14.4%	0.13%	-7.7%
LHX	Sell	L3HARRIS	$3,351,000	-14.0%	16,123	-0.0%	0.13%	-7.8%
CP	Sell	CANADIAN PACIFIC RAILWAY LTD (	$2,869,000	-6.3%	43,000	-1.9%	0.11%	0.0%
EMR	Sell	EMERSON ELECTRIC	$2,735,000	-19.6%	37,350	-12.6%	0.11%	-13.8%
MMM	Sell	3M COMPANY	$2,574,000	-35.7%	23,296	-24.7%	0.10%	-31.0%
PFE	Sell	PFIZER	$2,507,000	-43.2%	57,299	-31.9%	0.10%	-39.4%
EW	Sell	EDWARDS LIFESCIENCES	$2,427,000	-13.9%	29,370	-0.9%	0.09%	-7.8%
WMT	Sell	WALMART	$2,191,000	-12.0%	16,895	-17.5%	0.08%	-5.6%
CSCO	Sell	CISCO SYSTEMS	$2,121,000	-23.8%	53,031	-18.8%	0.08%	-18.8%
PYPL	Sell	PAYPAL HOLDINGS	$2,043,000	+17.9%	23,733	-4.3%	0.08%	+25.4%
MCD	Sell	MCDONALD'S	$1,773,000	-6.5%	7,682	-0.0%	0.07%	0.0%
AWK	Sell	AMERICAN WATER WORKS	$1,703,000	-25.4%	13,082	-14.7%	0.07%	-20.5%
KO	Sell	COCA-COLA	$1,627,000	-27.0%	29,042	-18.1%	0.06%	-22.2%
KMB	Sell	KIMBERLY-CLARK	$1,613,000	-36.9%	14,334	-24.2%	0.06%	-33.3%
NEM	Sell	NEWMONT CORP	$1,561,000	-30.6%	37,130	-1.5%	0.06%	-26.8%
BEPC	Sell	BROOKFIELD RENEWABLE CORP-A (C	$1,456,000	-19.4%	44,565	-12.1%	0.06%	-13.8%
ROK	Buy	ROCKWELL AUTOMATION	$1,400,000	+16.4%	6,509	+7.9%	0.05%	+22.7%
IP	Sell	INT'L PAPER	$1,331,000	-27.1%	42,000	-3.8%	0.05%	-22.7%
BDX	Sell	BECTON DICKINSON & CO	$1,118,000	-10.5%	5,017	-1.0%	0.04%	-4.4%
IFF	Sell	INTL FLAVORS& FRAGRANCES	$1,113,000	-96.2%	12,251	-95.0%	0.04%	-95.9%
GOOGL	Buy	ALPHABET INC CLASS A	$1,052,000	-12.3%	10,995	+1899.1%	0.04%	-4.7%
BNS	Sell	BANK OF NOVA SCOTIA ADR (CA)	$1,063,000	-95.7%	22,356	-94.7%	0.04%	-95.5%
CB	Buy	CHUBB LTD (SZ)	$1,037,000	+107.8%	5,700	+124.4%	0.04%	+122.2%
VRT	Sell	VERTIV HOLDINGS	$1,005,000	+11.9%	103,350	-5.4%	0.04%	+18.2%
ADBE	Sell	ADOBE	$982,000	-97.0%	3,568	-96.0%	0.04%	-96.8%
VMC	Sell	VULCAN MATERIALS	$989,000	-2.6%	6,274	-12.2%	0.04%	+2.7%
APD	Sell	AIR PRODUCTS AND CHEMICALS	$933,000	-18.5%	4,009	-15.8%	0.04%	-14.3%
ABB	Sell	ABB LTD ADR (SZ)	$869,000	-30.8%	33,864	-27.9%	0.03%	-26.1%
EFX	Sell	EQUIFAX	$829,000	-47.1%	4,838	-43.6%	0.03%	-43.9%
CHKP	Buy	CHECK POINT SOFTWARE TECH (IS)	$734,000	+4.9%	6,550	+13.9%	0.03%	+12.0%
STT	Sell	STATE STREET	$690,000	-14.2%	11,343	-13.0%	0.03%	-6.9%
BMY	Sell	BRISTOL-MYERS SQUIBB	$678,000	-8.1%	9,540	-0.5%	0.03%	-3.7%
RHHBY	Sell	ROCHE HOLDING AG (SZ)	$634,000	-4.2%	15,600	-1.7%	0.02%	+4.2%
DUK	Sell	DUKE ENERGY CORP NEW	$587,000	-31.8%	6,312	-21.4%	0.02%	-25.8%
BHP	Sell	BHP GROUP LTD (AU)	$509,000	-18.0%	10,175	-7.9%	0.02%	-13.0%
DD	Sell	DUPONT DE NEMOURS	$521,000	-37.5%	10,344	-31.0%	0.02%	-33.3%
RY	Sell	ROYAL BANK CANADA MONTREAL (CA	$452,000	-62.4%	5,025	-59.5%	0.02%	-61.4%
RTX	Sell	RAYTHEON TECHNOLOGIES	$437,000	-30.5%	5,344	-18.3%	0.02%	-26.1%
SNA	Sell	SNAP-ON	$407,000	-10.0%	2,020	-12.0%	0.02%	0.0%
AKAM	Sell	AKAMAI TECHNOLOGIES	$329,000	-54.6%	4,100	-48.3%	0.01%	-50.0%
XOM	Sell	EXXON MOBIL	$298,000	+1.4%	3,411	-0.7%	0.01%	+9.1%
DLR	Sell	DIGITAL REALTY TRUST	$247,000	-57.6%	2,495	-44.5%	0.01%	-52.4%
ABT	Sell	ABBOTT LABORATORIES	$268,000	-43.9%	2,770	-37.0%	0.01%	-41.2%
TM	Sell	TOYOTA MOTOR (JP)	$208,000	-56.5%	1,600	-48.4%	0.01%	-52.9%
EL	Sell	ESTEE LAUDER	$206,000	-15.2%	954	-0.1%	0.01%	-11.1%
MRK	Sell	MERCK & CO INC NEW	$202,000	-34.6%	2,345	-30.7%	0.01%	-27.3%
NEOG	New	NEOGEN CORP COM	$210,000	–	15,041	–	0.01%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-3,229	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-5,601	–	-0.01%	–
ADI	Exit	ANALOG DEVICES INC COM	$0	–	-1,481	–	-0.01%	–
OLN	Exit	OLIN	$0	–	-5,500	–	-0.01%	–
FNB	Exit	FNB CORP	$0	–	-27,216	–	-0.01%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-8,214	–	-0.01%	–
GRMN	Exit	GARMIN LTD (SZ)	$0	–	-230,000	–	-0.82%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$77,359,000	–	565,820	–	2.80%	–
TDY	New	TELEDYNE TECHNOLOGIES	$68,949,000	–	183,810	–	2.50%	–
MSFT	New	MICROSOFT	$67,809,000	–	264,024	–	2.46%	–
TMO	New	THERMO FISHER SCIENTIFIC	$65,702,000	–	120,935	–	2.38%	–
COST	New	COSTCO WHOLESALE	$64,762,000	–	135,123	–	2.35%	–
UNP	New	UNION PACIFIC	$61,224,000	–	287,059	–	2.22%	–
HON	New	HONEYWELL INT'L	$59,647,000	–	343,174	–	2.16%	–
MKC	New	MCCORMICK & CO	$57,500,000	–	690,695	–	2.08%	–
AVY	New	AVERY DENNISON	$57,479,000	–	355,092	–	2.08%	–
SCHW	New	CHARLES SCHWAB CORP	$57,461,000	–	909,481	–	2.08%	–
SPGI	New	S & P GLOBAL	$57,074,000	–	169,328	–	2.07%	–
PG	New	PROCTER & GAMBLE	$56,980,000	–	396,273	–	2.07%	–
TXN	New	TEXAS INSTRUMENTS	$56,030,000	–	364,658	–	2.03%	–
HD	New	HOME DEPOT	$55,574,000	–	202,625	–	2.02%	–
LLY	New	LILLY ELI & COMPANY	$54,827,000	–	169,099	–	1.99%	–
LMT	New	LOCKHEED MARTIN	$54,736,000	–	127,304	–	1.98%	–
DE	New	DEERE & CO	$54,043,000	–	180,462	–	1.96%	–
VRTX	New	VERTEX PHARMACEUTICALS	$53,970,000	–	191,525	–	1.96%	–
ZTS	New	ZOETIS	$53,217,000	–	309,602	–	1.93%	–
GOOG	New	ALPHABET INC CLASS C	$52,236,000	–	23,880	–	1.89%	–
TTEK	New	TETRA TECH	$52,011,000	–	380,890	–	1.89%	–
CHD	New	CHURCH AND DWIGHT	$51,811,000	–	559,149	–	1.88%	–
JNJ	New	JOHNSON & JOHNSON	$51,790,000	–	291,758	–	1.88%	–
BX	New	BLACKSTONE INC	$51,210,000	–	561,326	–	1.86%	–
ADP	New	AUTOMATIC DATA PROCESSING	$48,966,000	–	233,125	–	1.78%	–
JPM	New	JPMORGAN CHASE	$48,204,000	–	428,065	–	1.75%	–
CNQ	New	CANADIAN NATURAL RESOURCES ADR	$47,811,000	–	890,670	–	1.73%	–
UNH	New	UNITEDHEALTH GROUP	$46,416,000	–	90,369	–	1.68%	–
V	New	VISA	$45,626,000	–	231,734	–	1.66%	–
WM	New	WASTE MANAGEMENT	$40,885,000	–	267,257	–	1.48%	–
ADM	New	ARCHER-DANIELS MIDLAND	$37,793,000	–	487,020	–	1.37%	–
DIS	New	WALT DISNEY	$36,625,000	–	387,973	–	1.33%	–
AXP	New	AMERICAN EXPRESS	$35,591,000	–	256,750	–	1.29%	–
PANW	New	PALO ALTO NETWORKS	$35,493,000	–	71,856	–	1.29%	–
SONY	New	SONY CORP (JP)	$34,109,000	–	417,139	–	1.24%	–
ATI	New	ATI INC	$33,937,000	–	1,494,365	–	1.23%	–
ACN	New	ACCENTURE LTD (IL)	$33,775,000	–	121,645	–	1.22%	–
NVDA	New	NVIDIA CORP COM	$33,339,000	–	219,928	–	1.21%	–
NDSN	New	NORDSON CORP	$32,857,000	–	162,305	–	1.19%	–
IBM	New	IBM	$32,601,000	–	230,900	–	1.18%	–
ADBE	New	ADOBE	$32,553,000	–	88,928	–	1.18%	–
ISRG	New	INTUITIVE SURGICAL	$29,386,000	–	146,410	–	1.07%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$28,927,000	–	242,835	–	1.05%	–
WELL	New	WELLTOWER	$27,360,000	–	332,243	–	0.99%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$27,269,000	–	713,465	–	0.99%	–
PLD	New	PROLOGIS	$26,441,000	–	224,743	–	0.96%	–
NEP	New	NEXTERA ENERGY PARTNERS LP	$25,515,000	–	344,050	–	0.92%	–
BA	New	BOEING	$25,047,000	–	183,200	–	0.91%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$25,008,000	–	422,356	–	0.91%	–
VIAV	New	VIAVI SOLUTIONS	$24,920,000	–	1,883,585	–	0.90%	–
WY	New	WEYERHAEUSER	$24,783,000	–	748,288	–	0.90%	–
LULU	New	LULULEMON ATHLETICA	$24,535,000	–	90,000	–	0.89%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERSunt	$22,655,000	–	651,005	–	0.82%	–
GRMN	New	GARMIN LTD (SZ)	$22,597,000	–	230,000	–	0.82%	–
SUN	New	SUNOCO LP	$22,350,000	–	600,000	–	0.81%	–
PLUG	New	PLUG POWER	$21,157,000	–	1,276,840	–	0.77%	–
CCI	New	CROWN CASTLE INT'L	$20,932,000	–	124,316	–	0.76%	–
EQIX	New	EQUINIX	$18,397,000	–	28,000	–	0.67%	–
NOK	New	NOKIA (FI)	$18,179,000	–	3,943,390	–	0.66%	–
ARE	New	ALEXANDRIA REAL ESTATE EQUITIE	$18,129,000	–	125,000	–	0.66%	–
AMZN	New	AMAZON.COM INC	$18,053,000	–	169,975	–	0.66%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS L	$15,346,000	–	629,700	–	0.56%	–
GLW	New	CORNING	$14,559,000	–	462,051	–	0.53%	–
SLB	New	SCHLUMBERGER LIMITED (NE)	$14,304,000	–	400,000	–	0.52%	–
LSI	New	LIFE STORAGE	$14,158,000	–	126,800	–	0.51%	–
LAND	New	GLADSTONE LAND CORP	$13,961,000	–	630,000	–	0.51%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPunt	$11,063,000	–	725,000	–	0.40%	–
PEP	New	PEPSICO	$9,176,000	–	55,056	–	0.33%	–
NSRGY	New	NESTLE SA ADR (SZ)	$8,341,000	–	71,665	–	0.30%	–
MA	New	MASTERCARD INC CL A	$7,936,000	–	25,155	–	0.29%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$6,805,000	–	60,502	–	0.25%	–
FMC	New	FMC CORP	$6,046,000	–	56,499	–	0.22%	–
CL	New	COLGATE PALMOLIVE	$5,663,000	–	70,664	–	0.20%	–
VZ	New	VERIZON COMMUNICATIONS	$5,044,000	–	99,386	–	0.18%	–
XYL	New	XYLEM	$4,640,000	–	59,347	–	0.17%	–
PFE	New	PFIZER	$4,412,000	–	84,155	–	0.16%	–
GNRC	New	GENERAC HOLDINGS	$4,331,000	–	20,565	–	0.16%	–
UPS	New	UNITED PARCEL SERVICE	$4,017,000	–	22,007	–	0.15%	–
MMM	New	3M COMPANY	$4,003,000	–	30,934	–	0.14%	–
NEE	New	NEXTERA ENERGY	$3,930,000	–	50,736	–	0.14%	–
LHX	New	L3HARRIS	$3,898,000	–	16,128	–	0.14%	–
EMR	New	EMERSON ELECTRIC	$3,400,000	–	42,746	–	0.12%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$3,062,000	–	43,850	–	0.11%	–
EW	New	EDWARDS LIFESCIENCES	$2,818,000	–	29,630	–	0.10%	–
CSCO	New	CISCO SYSTEMS	$2,785,000	–	65,311	–	0.10%	–
KMB	New	KIMBERLY-CLARK	$2,556,000	–	18,912	–	0.09%	–
WMT	New	WALMART	$2,490,000	–	20,480	–	0.09%	–
MDT	New	MEDTRONIC PLC (IL)	$2,340,000	–	26,075	–	0.08%	–
AWK	New	AMERICAN WATER WORKS	$2,282,000	–	15,340	–	0.08%	–
NEM	New	NEWMONT CORP	$2,249,000	–	37,689	–	0.08%	–
KO	New	COCA-COLA	$2,230,000	–	35,442	–	0.08%	–
PH	New	PARKER-HANNIFIN	$2,174,000	–	8,835	–	0.08%	–
CAT	New	CATERPILLAR	$2,134,000	–	11,939	–	0.08%	–
MCD	New	MCDONALD'S	$1,897,000	–	7,684	–	0.07%	–
TFC	New	TRUIST FINANCIAL CORP	$1,846,000	–	38,915	–	0.07%	–
IP	New	INT'L PAPER	$1,827,000	–	43,675	–	0.07%	–
BEPC	New	BROOKFIELD RENEWABLE CORP-A (C	$1,806,000	–	50,726	–	0.06%	–
PYPL	New	PAYPAL HOLDINGS	$1,733,000	–	24,808	–	0.06%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$1,673,000	–	46,445	–	0.06%	–
EFX	New	EQUIFAX	$1,568,000	–	8,578	–	0.06%	–
ABB	New	ABB LTD ADR (SZ)	$1,255,000	–	46,964	–	0.05%	–
FDX	New	FEDEX CORPORATION	$1,281,000	–	5,651	–	0.05%	–
BDX	New	BECTON DICKINSON & CO	$1,249,000	–	5,067	–	0.04%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$1,202,000	–	12,413	–	0.04%	–
ROK	New	ROCKWELL AUTOMATION	$1,203,000	–	6,035	–	0.04%	–
GOOGL	New	ALPHABET INC CLASS A	$1,199,000	–	550	–	0.04%	–
APD	New	AIR PRODUCTS AND CHEMICALS	$1,145,000	–	4,762	–	0.04%	–
NSC	New	NORFOLK SOUTHERN	$1,106,000	–	4,865	–	0.04%	–
MMC	New	MARSH & MCLENNAN	$1,094,000	–	7,049	–	0.04%	–
VMC	New	VULCAN MATERIALS	$1,015,000	–	7,143	–	0.04%	–
VRT	New	VERTIV HOLDINGS	$898,000	–	109,250	–	0.03%	–
DUK	New	DUKE ENERGY CORP NEW	$861,000	–	8,029	–	0.03%	–
CVX	New	CHEVRON	$828,000	–	5,721	–	0.03%	–
DD	New	DUPONT DE NEMOURS	$833,000	–	14,990	–	0.03%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$817,000	–	47,165	–	0.03%	–
STT	New	STATE STREET	$804,000	–	13,043	–	0.03%	–
TT	New	TRANE TECHNOLOGIES PLC (IL)	$777,000	–	5,985	–	0.03%	–
BMY	New	BRISTOL-MYERS SQUIBB	$738,000	–	9,590	–	0.03%	–
AKAM	New	AKAMAI TECHNOLOGIES	$725,000	–	7,935	–	0.03%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$700,000	–	5,750	–	0.02%	–
RHHBY	New	ROCHE HOLDING AG (SZ)	$662,000	–	15,873	–	0.02%	–
BHP	New	BHP GROUP LTD (AU)	$621,000	–	11,050	–	0.02%	–
RTX	New	RAYTHEON TECHNOLOGIES	$629,000	–	6,545	–	0.02%	–
DLR	New	DIGITAL REALTY TRUST	$583,000	–	4,493	–	0.02%	–
ORCL	New	ORACLE CORP COM	$564,000	–	8,065	–	0.02%	–
LOW	New	LOWE'S COMPANIES	$524,000	–	3,000	–	0.02%	–
DOW	New	DOW INC	$506,000	–	9,797	–	0.02%	–
CB	New	CHUBB LTD (SZ)	$499,000	–	2,540	–	0.02%	–
TM	New	TOYOTA MOTOR (JP)	$478,000	–	3,100	–	0.02%	–
CMI	New	CUMMINS INC	$464,000	–	2,400	–	0.02%	–
ABT	New	ABBOTT LABORATORIES	$478,000	–	4,399	–	0.02%	–
SNA	New	SNAP-ON	$452,000	–	2,295	–	0.02%	–
ABBV	New	ABBVIE INC	$418,000	–	2,730	–	0.02%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CORP	$411,000	–	9,670	–	0.02%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$358,000	–	8,214	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$329,000	–	5,305	–	0.01%	–
AON	New	AON PLC	$299,000	–	1,110	–	0.01%	–
XOM	New	EXXON MOBIL	$294,000	–	3,436	–	0.01%	–
FNB	New	FNB CORP	$296,000	–	27,216	–	0.01%	–
UL	New	UNILEVER PLC ADR (GB)	$291,000	–	6,348	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$309,000	–	3,385	–	0.01%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG (TW)	$272,000	–	3,330	–	0.01%	–
EL	New	ESTEE LAUDER	$243,000	–	955	–	0.01%	–
OLN	New	OLIN	$255,000	–	5,500	–	0.01%	–
A	New	AGILENT TECHNOLOGIES	$239,000	–	2,010	–	0.01%	–
ETN	New	EATON CORP	$245,000	–	1,942	–	0.01%	–
ADI	New	ANALOG DEVICES INC COM	$216,000	–	1,481	–	0.01%	–
COF	New	CAPITAL ONE FINANCIAL CP	$227,000	–	2,174	–	0.01%	–
INTC	New	INTEL CORP	$210,000	–	5,601	–	0.01%	–
GE	New	GENERAL ELECTRIC	$206,000	–	3,229	–	0.01%	–
F	New	FORD MOTOR	$111,000	–	10,000	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-5,274	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-3,220	–	-0.01%	–
SBUX	Exit	STARBUCKS CORPORATION	$0	–	-1,921	–	-0.01%	–
IR	Exit	INGERSOLL RAND (IL)	$0	–	-4,277	–	-0.01%	–
ADI	Exit	ANALOG DEVICES INC COM	$0	–	-1,481	–	-0.01%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-3,309	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-5,185	–	-0.01%	–
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CORP	$0	–	-5,117	–	-0.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-2,695	–	-0.01%	–
EL	Exit	ESTEE LAUDER	$0	–	-965	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-5,601	–	-0.01%	–
ETN	Exit	EATON CORP	$0	–	-1,900	–	-0.01%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-2,010	–	-0.01%	–
AON	Exit	AON PLC	$0	–	-1,110	–	-0.01%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-6,248	–	-0.01%	–
COF	Exit	CAPITAL ONE FINANCIAL CP	$0	–	-2,174	–	-0.01%	–
HBAN	Exit	HUNTINGTON BANCSHARES	$0	–	-23,400	–	-0.01%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG (TW)	$0	–	-3,330	–	-0.01%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-3,620	–	-0.01%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-7,831	–	-0.01%	–
LOW	Exit	LOWE'S COMPANIES	$0	–	-1,992	–	-0.01%	–
NVS	Exit	NOVARTIS AG ADS (SZ)	$0	–	-4,745	–	-0.01%	–
DOW	Exit	DOW INC	$0	–	-6,989	–	-0.01%	–
CB	Exit	CHUBB LTD (SZ)	$0	–	-2,510	–	-0.01%	–
FNB	Exit	FNB CORP	$0	–	-36,936	–	-0.01%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-4,399	–	-0.02%	–
CMI	Exit	CUMMINS INC	$0	–	-2,400	–	-0.02%	–
SNA	Exit	SNAP-ON	$0	–	-2,645	–	-0.02%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-9,490	–	-0.02%	–
IBM	Exit	IBM	$0	–	-4,410	–	-0.02%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-7,872	–	-0.02%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-8,065	–	-0.02%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-7,375	–	-0.03%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-46,165	–	-0.03%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-9,079	–	-0.03%	–
T	Exit	AT&T	$0	–	-33,253	–	-0.03%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-3,150	–	-0.03%	–
CVX	Exit	CHEVRON	$0	–	-8,950	–	-0.03%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-13,520	–	-0.03%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-4,239	–	-0.03%	–
DLR	Exit	DIGITAL REALTY TRUST	$0	–	-6,519	–	-0.03%	–
TT	Exit	TRANE TECHNOLOGIES PLC (IL)	$0	–	-5,985	–	-0.03%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-7,009	–	-0.03%	–
TM	Exit	TOYOTA MOTOR (JP)	$0	–	-6,050	–	-0.03%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-4,865	–	-0.04%	–
BHP	Exit	BHP GROUP LTD (AU)	$0	–	-22,100	–	-0.04%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-7,294	–	-0.04%	–
APD	Exit	AIR PRODUCTS AND CHEMICALS	$0	–	-4,836	–	-0.04%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-21,506	–	-0.04%	–
GOOGL	Exit	ALPHABET INC CLASS A	$0	–	-518	–	-0.04%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-14,527	–	-0.04%	–
WPM	Exit	WHEATON PRECIOUS METALS (CA)	$0	–	-40,545	–	-0.05%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-6,661	–	-0.05%	–
STT	Exit	STATE STREET	$0	–	-19,493	–	-0.05%	–
MCD	Exit	MCDONALD'S	$0	–	-7,032	–	-0.05%	–
KO	Exit	COCA-COLA	$0	–	-34,600	–	-0.06%	–
NEM	Exit	NEWMONT CORP	$0	–	-35,972	–	-0.06%	–
BEPC	Exit	BROOKFIELD RENEWABLE CORP-A (C	$0	–	-52,010	–	-0.06%	–
AKAM	Exit	AKAMAI TECHNOLOGIES	$0	–	-19,150	–	-0.06%	–
CAT	Exit	CATERPILLAR	$0	–	-10,484	–	-0.06%	–
EFX	Exit	EQUIFAX	$0	–	-8,578	–	-0.07%	–
TFC	Exit	TRUIST FINANCIAL CORP	$0	–	-38,915	–	-0.07%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-9,185	–	-0.08%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-43,190	–	-0.09%	–
AWK	Exit	AMERICAN WATER WORKS	$0	–	-16,787	–	-0.09%	–
RHHBY	Exit	ROCHE HOLDING AG (SZ)	$0	–	-64,907	–	-0.09%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-22,314	–	-0.09%	–
WM	Exit	WASTE MANAGEMENT	$0	–	-23,686	–	-0.11%	–
IP	Exit	INT'L PAPER	$0	–	-67,675	–	-0.12%	–
PFE	Exit	PFIZER	$0	–	-90,052	–	-0.12%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-51,422	–	-0.12%	–
UPS	Exit	UNITED PARCEL SERVICE	$0	–	-23,403	–	-0.13%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-95,017	–	-0.16%	–
FMC	Exit	FMC CORP	$0	–	-57,615	–	-0.16%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-73,913	–	-0.17%	–
MA	Exit	MASTERCARD INC CL A	$0	–	-17,360	–	-0.18%	–
MMM	Exit	3M COMPANY	$0	–	-36,857	–	-0.20%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-70,592	–	-0.20%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-63,694	–	-0.23%	–
XYL	Exit	XYLEM	$0	–	-61,944	–	-0.24%	–
PEP	Exit	PEPSICO	$0	–	-57,417	–	-0.26%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-74,020	–	-0.27%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPunt	$0	–	-600,000	–	-0.28%	–
LSI	Exit	LIFE STORAGE	$0	–	-100,000	–	-0.35%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS L	$0	–	-548,700	–	-0.36%	–
LAND	Exit	GLADSTONE LAND CORP	$0	–	-600,000	–	-0.42%	–
SOFI	Exit	SOFI TECHNOLOGIES	$0	–	-1,000,000	–	-0.49%	–
OLN	Exit	OLIN	$0	–	-334,000	–	-0.50%	–
HASI	Exit	HANNON ARMSTRONG SUSTAINABLE I	$0	–	-315,000	–	-0.52%	–
SONO	Exit	SONOS INC	$0	–	-550,000	–	-0.55%	–
CNQ	Exit	CANADIAN NATURAL RESOURCES ADR	$0	–	-500,000	–	-0.56%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQUITIE	$0	–	-105,000	–	-0.62%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-42,000	–	-0.62%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-617,384	–	-0.63%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-125,573	–	-0.67%	–
VIAV	Exit	VIAVI SOLUTIONS	$0	–	-1,400,000	–	-0.68%	–
EQIX	Exit	EQUINIX	$0	–	-28,000	–	-0.68%	–
SUN	Exit	SUNOCO LP	$0	–	-600,000	–	-0.69%	–
PSTG	Exit	PURE STORAGE	$0	–	-900,000	–	-0.70%	–
BEP	Exit	BROOKFIELD RENEWABLE PARTNERSunt	$0	–	-660,300	–	-0.75%	–
SEDG	Exit	SOLAREDGE TECHNOLOGIES	$0	–	-92,000	–	-0.75%	–
NEP	Exit	NEXTERA ENERGY PARTNERS LP	$0	–	-343,550	–	-0.80%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-475,644	–	-0.82%	–
WY	Exit	WEYERHAEUSER	$0	–	-753,908	–	-0.82%	–
WELL	Exit	WELLTOWER	$0	–	-332,943	–	-0.84%	–
PLD	Exit	PROLOGIS	$0	–	-222,081	–	-0.86%	–
LHX	Exit	L3HARRIS	$0	–	-128,568	–	-0.87%	–
LULU	Exit	LULULEMON ATHLETICA	$0	–	-70,000	–	-0.87%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-181,730	–	-0.94%	–
ERIC	Exit	LM ERICSSON TELEPHONE ADR (SE)	$0	–	-2,786,880	–	-0.96%	–
UNH	Exit	UNITEDHEALTH GROUP	$0	–	-81,885	–	-0.98%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-178,645	–	-1.00%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-250,875	–	-1.03%	–
GRMN	Exit	GARMIN LTD (SZ)	$0	–	-222,000	–	-1.06%	–
JCI	Exit	JOHNSON CONTROLS (IL)	$0	–	-532,750	–	-1.11%	–
WMT	Exit	WALMART	$0	–	-273,742	–	-1.17%	–
GNRC	Exit	GENERAC HOLDINGS	$0	–	-99,225	–	-1.24%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-750,691	–	-1.26%	–
GLW	Exit	CORNING	$0	–	-1,136,878	–	-1.27%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-122,824	–	-1.30%	–
NDSN	Exit	NORDSON CORP	$0	–	-183,275	–	-1.34%	–
ACN	Exit	ACCENTURE LTD (IL)	$0	–	-137,965	–	-1.36%	–
SONY	Exit	SONY CORP (JP)	$0	–	-407,139	–	-1.38%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-564,444	–	-1.43%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-238,263	–	-1.46%	–
VRT	Exit	VERTIV HOLDINGS	$0	–	-2,049,650	–	-1.52%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-19,121	–	-1.56%	–
DIS	Exit	WALT DISNEY	$0	–	-310,875	–	-1.62%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-16,453	–	-1.66%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-434,710	–	-1.67%	–
V	Exit	VISA	$0	–	-248,464	–	-1.70%	–
MKC	Exit	MCCORMICK & CO	$0	–	-690,860	–	-1.72%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-401,857	–	-1.72%	–
UNP	Exit	UNION PACIFIC	$0	–	-289,662	–	-1.74%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-359,694	–	-1.78%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-227,671	–	-1.82%	–
ADBE	Exit	ADOBE	$0	–	-103,483	–	-1.83%	–
TTEK	Exit	TETRA TECH	$0	–	-415,475	–	-1.90%	–
NVDA	Exit	NVIDIA CORP COM	$0	–	-299,937	–	-1.91%	–
DE	Exit	DEERE & CO	$0	–	-188,427	–	-1.94%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-141,371	–	-1.95%	–
AVY	Exit	AVERY DENNISON	$0	–	-322,470	–	-2.05%	–
ZTS	Exit	ZOETIS	$0	–	-349,896	–	-2.09%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-367,636	–	-2.17%	–
HD	Exit	HOME DEPOT	$0	–	-217,362	–	-2.19%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-438,076	–	-2.20%	–
HON	Exit	HONEYWELL INT'L	$0	–	-340,142	–	-2.22%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-1,035,459	–	-2.32%	–
SPGI	Exit	S & P GLOBAL	$0	–	-180,854	–	-2.36%	–
BX	Exit	BLACKSTONE INC	$0	–	-677,166	–	-2.42%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-184,593	–	-2.44%	–
MSFT	Exit	MICROSOFT	$0	–	-292,877	–	-2.54%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-146,821	–	-2.58%	–
AAPL	Exit	APPLE INC	$0	–	-614,520	–	-2.67%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$86,955,000	+0.6%	614,520	-2.6%	2.67%	+1.6%
TMO	Sell	THERMO FISHER SCIENTIFIC	$83,883,000	+11.2%	146,821	-1.8%	2.58%	+12.3%
MSFT	Sell	MICROSOFT	$82,568,000	+1.1%	292,877	-2.8%	2.54%	+2.1%
TDY	Sell	TELEDYNE TECHNOLOGIES	$79,297,000	+2.1%	184,593	-0.5%	2.44%	+3.1%
BX	Sell	BLACKSTONE INC	$78,781,000	+10.5%	677,166	-7.8%	2.42%	+11.5%
SPGI	Sell	S & P GLOBAL	$76,843,000	+3.0%	180,854	-0.5%	2.36%	+4.1%
SCHW	Sell	CHARLES SCHWAB CORP	$75,423,000	-5.9%	1,035,459	-6.0%	2.32%	-5.0%
HON	Sell	HONEYWELL INT'L	$72,205,000	-6.6%	340,142	-3.5%	2.22%	-5.7%
JPM	Buy	JPMORGAN CHASE	$71,709,000	+6.0%	438,076	+0.7%	2.20%	+7.0%
HD	Sell	HOME DEPOT	$71,351,000	+2.1%	217,362	-0.8%	2.19%	+3.1%
TXN	Sell	TEXAS INSTRUMENTS	$70,663,000	-1.0%	367,636	-0.9%	2.17%	0.0%
ZTS	Sell	ZOETIS	$67,929,000	+2.5%	349,896	-1.6%	2.09%	+3.6%
AVY	Sell	AVERY DENNISON	$66,819,000	-3.2%	322,470	-1.8%	2.05%	-2.2%
COST	Buy	COSTCO WHOLESALE	$63,525,000	+14.5%	141,371	+0.8%	1.95%	+15.6%
DE	Sell	DEERE & CO	$63,136,000	-6.9%	188,427	-2.0%	1.94%	-6.0%
NVDA	Buy	NVIDIA CORP COM	$62,135,000	-6.0%	299,937	+262.9%	1.91%	-5.1%
TTEK	Sell	TETRA TECH	$62,047,000	+21.7%	415,475	-0.5%	1.90%	+22.9%
ADBE	Sell	ADOBE	$59,577,000	-3.1%	103,483	-1.4%	1.83%	-2.1%
PYPL	Buy	PAYPAL HOLDINGS	$59,242,000	-8.6%	227,671	+2.3%	1.82%	-7.8%
JNJ	Sell	JOHNSON & JOHNSON	$58,091,000	-2.7%	359,694	-0.8%	1.78%	-1.8%
UNP	Buy	UNION PACIFIC	$56,777,000	-8.0%	289,662	+3.2%	1.74%	-7.1%
PG	Sell	PROCTER & GAMBLE	$56,180,000	+3.0%	401,857	-0.6%	1.72%	+4.0%
MKC	Buy	MCCORMICK & CO	$55,980,000	-7.4%	690,860	+1.0%	1.72%	-6.4%
V	Sell	VISA	$55,345,000	-5.9%	248,464	-1.2%	1.70%	-4.9%
MDT	Sell	MEDTRONIC PLC (IL)	$54,491,000	+0.1%	434,710	-0.9%	1.67%	+1.1%
AMZN	Sell	AMAZON.COM INC	$54,049,000	-6.2%	16,453	-1.8%	1.66%	-5.3%
DIS	Sell	WALT DISNEY	$52,591,000	-5.5%	310,875	-1.9%	1.62%	-4.6%
GOOG	Sell	ALPHABET INC CLASS C	$50,963,000	+2.0%	19,121	-4.1%	1.56%	+3.0%
VRT	Buy	VERTIV HOLDINGS	$49,376,000	-10.3%	2,049,650	+1.6%	1.52%	-9.4%
ADP	Sell	AUTOMATIC DATA PROCESSING	$47,634,000	-8.2%	238,263	-8.8%	1.46%	-7.3%
CHD	Sell	CHURCH AND DWIGHT	$46,606,000	-3.6%	564,444	-0.5%	1.43%	-2.7%
ACN	Sell	ACCENTURE LTD (IL)	$44,138,000	+4.7%	137,965	-3.5%	1.36%	+5.8%
LMT	Buy	LOCKHEED MARTIN	$42,387,000	-6.5%	122,824	+2.5%	1.30%	-5.5%
GLW	Sell	CORNING	$41,485,000	-20.6%	1,136,878	-11.0%	1.27%	-19.8%
CSCO	Buy	CISCO SYSTEMS	$40,860,000	+17.4%	750,691	+14.3%	1.26%	+18.6%
GNRC	Buy	GENERAC HOLDINGS	$40,550,000	+14.9%	99,225	+16.7%	1.24%	+16.0%
WMT	Sell	WALMART	$38,154,000	-3.2%	273,742	-2.1%	1.17%	-2.3%
JCI	Sell	JOHNSON CONTROLS (IL)	$36,270,000	-5.9%	532,750	-5.2%	1.11%	-4.9%
IFF	Sell	INTL FLAVORS& FRAGRANCES	$33,547,000	-16.1%	250,875	-6.2%	1.03%	-15.2%
VRTX	Buy	VERTEX PHARMACEUTICALS	$32,404,000	+7.1%	178,645	+19.1%	1.00%	+8.2%
UNH	Buy	UNITEDHEALTH GROUP	$31,996,000	+518.2%	81,885	+533.5%	0.98%	+526.1%
ERIC	Buy	LM ERICSSON TELEPHONE ADR (SE)	$31,213,000	-9.6%	2,786,880	+1.6%	0.96%	-8.6%
AXP	Buy	AMERICAN EXPRESS	$30,445,000	+177.7%	181,730	+173.9%	0.94%	+180.8%
LULU	New	LULULEMON ATHLETICA	$28,329,000	–	70,000	–	0.87%	–
LHX	Buy	L3HARRIS	$28,316,000	+724.1%	128,568	+708.7%	0.87%	+736.5%
PLD	Sell	PROLOGIS	$27,856,000	+4.8%	222,081	-0.2%	0.86%	+5.8%
WY	Buy	WEYERHAEUSER	$26,817,000	+3.5%	753,908	+0.1%	0.82%	+4.6%
NEP	Buy	NEXTERA ENERGY PARTNERS LP	$25,890,000	-1.2%	343,550	+0.1%	0.80%	-0.3%
SEDG	Sell	SOLAREDGE TECHNOLOGIES	$24,400,000	-11.7%	92,000	-8.0%	0.75%	-10.8%
BEP	Sell	BROOKFIELD RENEWABLE PARTNERSunt	$24,372,000	-4.6%	660,300	-0.3%	0.75%	-3.6%
PSTG	New	PURE STORAGE	$22,644,000	–	900,000	–	0.70%	–
SUN	Buy	SUNOCO LP	$22,392,000	+0.7%	600,000	+1.7%	0.69%	+1.8%
VIAV	Buy	VIAVI SOLUTIONS	$22,036,000	+4.0%	1,400,000	+16.7%	0.68%	+5.1%
CCI	Sell	CROWN CASTLE INT'L	$21,764,000	-11.4%	125,573	-0.3%	0.67%	-10.6%
ABB	Buy	ABB LTD ADR (SZ)	$20,596,000	+1201.1%	617,384	+1225.9%	0.63%	+1218.8%
PANW	New	PALO ALTO NETWORKS	$20,118,000	–	42,000	–	0.62%	–
CNQ	New	CANADIAN NATURAL RESOURCES ADR	$18,270,000	–	500,000	–	0.56%	–
SONO	New	SONOS INC	$17,798,000	–	550,000	–	0.55%	–
OLN	New	OLIN	$16,115,000	–	334,000	–	0.50%	–
SOFI	New	SOFI TECHNOLOGIES	$15,880,000	–	1,000,000	–	0.49%	–
EPD	Buy	ENTERPRISE PRODUCTS PARTNERS L	$11,874,000	+6.6%	548,700	+18.8%	0.36%	+7.7%
LSI	New	LIFE STORAGE	$11,474,000	–	100,000	–	0.35%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPunt	$9,210,000	–	600,000	–	0.28%	–
NSRGY	Buy	NESTLE SA ADR (SZ)	$8,898,000	+1.9%	74,020	+5.7%	0.27%	+2.6%
PEP	Buy	PEPSICO	$8,636,000	+1.9%	57,417	+0.4%	0.26%	+2.7%
XYL	Sell	XYLEM	$7,661,000	+0.9%	61,944	-2.1%	0.24%	+1.7%
CNI	Buy	CANADIAN NAT'L RWY ADR (CA)	$7,366,000	+10.8%	63,694	+1.1%	0.23%	+11.9%
EMR	Sell	EMERSON ELECTRIC	$6,650,000	-84.2%	70,592	-83.8%	0.20%	-84.0%
MMM	Sell	3M COMPANY	$6,465,000	-28.7%	36,857	-19.2%	0.20%	-27.9%
MA	Buy	MASTERCARD INC CL A	$6,036,000	+4.6%	17,360	+9.8%	0.18%	+5.1%
CL	Sell	COLGATE PALMOLIVE	$5,586,000	-7.7%	73,913	-0.7%	0.17%	-6.5%
FMC	Sell	FMC CORP	$5,275,000	-36.6%	57,615	-25.1%	0.16%	-36.0%
VZ	Sell	VERIZON COMMUNICATIONS	$5,132,000	-13.8%	95,017	-10.6%	0.16%	-12.7%
UPS	Sell	UNITED PARCEL SERVICE	$4,262,000	-90.6%	23,403	-89.2%	0.13%	-90.5%
NEE	Sell	NEXTERA ENERGY	$4,038,000	+6.0%	51,422	-1.0%	0.12%	+6.9%
PFE	Sell	PFIZER	$3,873,000	+9.7%	90,052	-0.1%	0.12%	+11.2%
IP	Sell	INT'L PAPER	$3,784,000	-30.2%	67,675	-23.5%	0.12%	-29.7%
WM	Sell	WASTE MANAGEMENT	$3,538,000	+4.0%	23,686	-2.5%	0.11%	+5.8%
KMB	Sell	KIMBERLY-CLARK	$2,955,000	-3.3%	22,314	-2.3%	0.09%	-2.2%
RHHBY	Buy	ROCHE HOLDING AG (SZ)	$2,951,000	+93.3%	64,907	+99.8%	0.09%	+97.8%
AWK	Sell	AMERICAN WATER WORKS	$2,838,000	+7.0%	16,787	-2.5%	0.09%	+7.4%
CP	Sell	CANADIAN PACIFIC RAILWAY LTD (	$2,810,000	-91.7%	43,190	-90.2%	0.09%	-91.7%
PH	Sell	PARKER-HANNIFIN	$2,568,000	-10.7%	9,185	-1.9%	0.08%	-9.2%
AKAM	Sell	AKAMAI TECHNOLOGIES	$2,003,000	-94.2%	19,150	-93.6%	0.06%	-94.1%
CAT	Buy	CATERPILLAR	$2,013,000	-10.5%	10,484	+1.5%	0.06%	-8.8%
BEPC	Sell	BROOKFIELD RENEWABLE CORP-A (C	$2,019,000	-10.4%	52,010	-3.2%	0.06%	-10.1%
NEM	Buy	NEWMONT CORP	$1,953,000	-14.3%	35,972	+0.1%	0.06%	-13.0%
MCD	Sell	MCDONALD'S	$1,695,000	+4.1%	7,032	-0.2%	0.05%	+4.0%
BDX	Sell	BECTON DICKINSON & CO	$1,637,000	-1.0%	6,661	-2.1%	0.05%	0.0%
WPM	Buy	WHEATON PRECIOUS METALS (CA)	$1,524,000	-10.3%	40,545	+5.2%	0.05%	-9.6%
GOOGL	Sell	ALPHABET INC CLASS A	$1,385,000	+9.3%	518	-0.2%	0.04%	+10.3%
VMC	Sell	VULCAN MATERIALS	$1,234,000	-5.2%	7,294	-2.5%	0.04%	-5.0%
APD	Sell	AIR PRODUCTS AND CHEMICALS	$1,239,000	-11.2%	4,836	-0.4%	0.04%	-9.5%
NSC	Sell	NORFOLK SOUTHERN	$1,164,000	-10.3%	4,865	-0.4%	0.04%	-7.7%
BHP	Sell	BHP GROUP LTD (AU)	$1,183,000	-90.3%	22,100	-86.8%	0.04%	-90.3%
MMC	Sell	MARSH & MCLENNAN	$1,061,000	+7.4%	7,009	-0.2%	0.03%	+10.0%
TM	Sell	TOYOTA MOTOR (JP)	$1,075,000	-97.3%	6,050	-97.3%	0.03%	-97.2%
DLR	Sell	DIGITAL REALTY TRUST	$942,000	-4.7%	6,519	-0.7%	0.03%	-3.3%
FDX	Sell	FEDEX CORPORATION	$930,000	-84.4%	4,239	-78.8%	0.03%	-84.0%
T	Sell	AT&T	$898,000	-15.7%	33,253	-10.1%	0.03%	-12.5%
DD	Sell	DUPONT DE NEMOURS	$919,000	-31.0%	13,520	-21.4%	0.03%	-31.7%
CVX	Buy	CHEVRON	$908,000	+0.2%	8,950	+3.5%	0.03%	0.0%
MFC	Buy	MANULIFE FINL CORP ADR (CA)	$888,000	-0.2%	46,165	+2.2%	0.03%	0.0%
RTX	Buy	RAYTHEON TECHNOLOGIES	$677,000	+0.9%	7,872	+0.0%	0.02%	+5.0%
IBM	Buy	IBM	$613,000	-2.7%	4,410	+2.6%	0.02%	0.0%
FNB	Sell	FNB CORP	$429,000	-25.4%	36,936	-20.8%	0.01%	-23.5%
GE	Sell	GENERAL ELECTRIC	$373,000	-16.2%	3,620	-89.0%	0.01%	-21.4%
UL	Sell	UNILEVER PLC ADR (GB)	$339,000	-21.3%	6,248	-15.3%	0.01%	-23.1%
ABBV	Buy	ABBVIE INC	$291,000	+16.9%	2,695	+21.7%	0.01%	+12.5%
INTC	Buy	INTEL CORP	$298,000	+4.2%	5,601	+10.0%	0.01%	0.0%
MRK	Sell	MERCK & CO INC NEW	$249,000	-4.2%	3,309	-1.2%	0.01%	0.0%
IR	Sell	INGERSOLL RAND (IL)	$216,000	-4.4%	4,277	-7.6%	0.01%	0.0%
XOM	Exit	EXXON MOBIL	$0	–	-3,739	–	-0.01%	–
CODI	Exit	COMPASS DIVERSIFIED HOLDINGSsh ben int	$0	–	-425,000	–	-0.33%	–
BRKS	Exit	BROOKS AUTOMATION	$0	–	-250,000	–	-0.72%	–
TKR	Exit	TIMKEN	$0	–	-365,000	–	-0.89%	–

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$86,443,000	–	631,156	–	2.63%	–
MSFT	New	MICROSOFT	$81,663,000	–	301,452	–	2.48%	–
SCHW	New	CHARLES SCHWAB CORP	$80,177,000	–	1,101,184	–	2.44%	–
TDY	New	TELEDYNE TECHNOLOGIES	$77,680,000	–	185,470	–	2.36%	–
HON	New	HONEYWELL INT'L	$77,295,000	–	352,382	–	2.35%	–
TMO	New	THERMO FISHER SCIENTIFIC	$75,441,000	–	149,545	–	2.29%	–
SPGI	New	S & P GLOBAL	$74,587,000	–	181,719	–	2.27%	–
TXN	New	TEXAS INSTRUMENTS	$71,369,000	–	371,136	–	2.17%	–
BX	New	BLACKSTONE INC	$71,327,000	–	734,271	–	2.17%	–
HD	New	HOME DEPOT	$69,883,000	–	219,146	–	2.12%	–
AVY	New	AVERY DENNISON	$69,021,000	–	328,295	–	2.10%	–
DE	New	DEERE & CO	$67,816,000	–	192,272	–	2.06%	–
JPM	New	JPMORGAN CHASE	$67,657,000	–	434,981	–	2.06%	–
ZTS	New	ZOETIS	$66,244,000	–	355,460	–	2.01%	–
NVDA	New	NVIDIA CORP COM	$66,128,000	–	82,650	–	2.01%	–
PYPL	New	PAYPAL HOLDINGS	$64,845,000	–	222,468	–	1.97%	–
UNP	New	UNION PACIFIC	$61,723,000	–	280,647	–	1.88%	–
ADBE	New	ADOBE	$61,482,000	–	104,983	–	1.87%	–
MKC	New	MCCORMICK & CO	$60,428,000	–	684,192	–	1.84%	–
JNJ	New	JOHNSON & JOHNSON	$59,716,000	–	362,486	–	1.82%	–
V	New	VISA	$58,798,000	–	251,469	–	1.79%	–
AMZN	New	AMAZON.COM INC	$57,619,000	–	16,749	–	1.75%	–
DIS	New	WALT DISNEY	$55,678,000	–	316,765	–	1.69%	–
COST	New	COSTCO WHOLESALE	$55,478,000	–	140,213	–	1.69%	–
VRT	New	VERTIV HOLDINGS	$55,069,000	–	2,017,170	–	1.67%	–
PG	New	PROCTER & GAMBLE	$54,548,000	–	404,266	–	1.66%	–
MDT	New	MEDTRONIC PLC (IL)	$54,441,000	–	438,580	–	1.66%	–
GLW	New	CORNING	$52,243,000	–	1,277,344	–	1.59%	–
ADP	New	AUTOMATIC DATA PROCESSING	$51,892,000	–	261,263	–	1.58%	–
TTEK	New	TETRA TECH	$50,969,000	–	417,640	–	1.55%	–
GOOG	New	ALPHABET INC CLASS C	$49,953,000	–	19,931	–	1.52%	–
CHD	New	CHURCH AND DWIGHT	$48,352,000	–	567,374	–	1.47%	–
LMT	New	LOCKHEED MARTIN	$45,328,000	–	119,804	–	1.38%	–
UPS	New	UNITED PARCEL SERVICE	$45,219,000	–	217,430	–	1.38%	–
ACN	New	ACCENTURE LTD (IL)	$42,145,000	–	142,965	–	1.28%	–
EMR	New	EMERSON ELECTRIC	$41,968,000	–	436,081	–	1.28%	–
NDSN	New	NORDSON CORP	$40,231,000	–	183,275	–	1.22%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$39,961,000	–	267,476	–	1.22%	–
SONY	New	SONY CORP (JP)	$39,582,000	–	407,139	–	1.20%	–
TM	New	TOYOTA MOTOR (JP)	$39,454,000	–	225,660	–	1.20%	–
WMT	New	WALMART	$39,425,000	–	279,567	–	1.20%	–
JCI	New	JOHNSON CONTROLS (IL)	$38,553,000	–	561,750	–	1.17%	–
GNRC	New	GENERAC HOLDINGS	$35,288,000	–	85,000	–	1.07%	–
CSCO	New	CISCO SYSTEMS	$34,803,000	–	656,655	–	1.06%	–
AKAM	New	AKAMAI TECHNOLOGIES	$34,750,000	–	298,025	–	1.06%	–
ERIC	New	LM ERICSSON TELEPHONE ADR (SE)	$34,514,000	–	2,743,595	–	1.05%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$33,901,000	–	440,790	–	1.03%	–
GRMN	New	GARMIN LTD (SZ)	$32,110,000	–	222,000	–	0.98%	–
VRTX	New	VERTEX PHARMACEUTICALS	$30,244,000	–	150,000	–	0.92%	–
TKR	New	TIMKEN	$29,415,000	–	365,000	–	0.89%	–
WELL	New	WELLTOWER	$27,668,000	–	332,943	–	0.84%	–
SEDG	New	SOLAREDGE TECHNOLOGIES	$27,637,000	–	100,000	–	0.84%	–
PLD	New	PROLOGIS	$26,586,000	–	222,420	–	0.81%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$26,422,000	–	475,644	–	0.80%	–
NEP	New	NEXTERA ENERGY PARTNERS LP	$26,211,000	–	343,250	–	0.80%	–
WY	New	WEYERHAEUSER	$25,920,000	–	753,058	–	0.79%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERSunt	$25,535,000	–	662,050	–	0.78%	–
CCI	New	CROWN CASTLE INT'L	$24,566,000	–	125,914	–	0.75%	–
BRKS	New	BROOKS AUTOMATION	$23,820,000	–	250,000	–	0.72%	–
EQIX	New	EQUINIX	$22,473,000	–	28,000	–	0.68%	–
SUN	New	SUNOCO LP	$22,243,000	–	590,000	–	0.68%	–
VIAV	New	VIAVI SOLUTIONS	$21,192,000	–	1,200,000	–	0.64%	–
ARE	New	ALEXANDRIA REAL ESTATE EQUITIE	$19,104,000	–	105,000	–	0.58%	–
HASI	New	HANNON ARMSTRONG SUSTAINABLE I	$17,687,000	–	315,000	–	0.54%	–
LAND	New	GLADSTONE LAND CORP	$14,436,000	–	600,000	–	0.44%	–
BHP	New	BHP GROUP LTD (AU)	$12,177,000	–	167,200	–	0.37%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS L	$11,141,000	–	461,700	–	0.34%	–
AXP	New	AMERICAN EXPRESS	$10,965,000	–	66,360	–	0.33%	–
CODI	New	COMPASS DIVERSIFIED HOLDINGSsh ben int	$10,837,000	–	425,000	–	0.33%	–
MMM	New	3M COMPANY	$9,066,000	–	45,643	–	0.28%	–
NSRGY	New	NESTLE SA ADR (SZ)	$8,736,000	–	70,030	–	0.27%	–
PEP	New	PEPSICO	$8,475,000	–	57,196	–	0.26%	–
FMC	New	FMC CORP	$8,320,000	–	76,898	–	0.25%	–
XYL	New	XYLEM	$7,589,000	–	63,260	–	0.23%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$6,647,000	–	62,994	–	0.20%	–
CL	New	COLGATE PALMOLIVE	$6,055,000	–	74,433	–	0.18%	–
VZ	New	VERIZON COMMUNICATIONS	$5,957,000	–	106,323	–	0.18%	–
FDX	New	FEDEX CORPORATION	$5,954,000	–	19,957	–	0.18%	–
MA	New	MASTERCARD INC CL A	$5,772,000	–	15,810	–	0.18%	–
IP	New	INT'L PAPER	$5,425,000	–	88,480	–	0.16%	–
UNH	New	UNITEDHEALTH GROUP	$5,176,000	–	12,925	–	0.16%	–
NEE	New	NEXTERA ENERGY	$3,808,000	–	51,966	–	0.12%	–
PFE	New	PFIZER	$3,529,000	–	90,122	–	0.11%	–
LHX	New	L3HARRIS	$3,436,000	–	15,898	–	0.10%	–
WM	New	WASTE MANAGEMENT	$3,403,000	–	24,285	–	0.10%	–
KMB	New	KIMBERLY-CLARK	$3,055,000	–	22,839	–	0.09%	–
PH	New	PARKER-HANNIFIN	$2,875,000	–	9,360	–	0.09%	–
AWK	New	AMERICAN WATER WORKS	$2,652,000	–	17,209	–	0.08%	–
NEM	New	NEWMONT CORP	$2,278,000	–	35,939	–	0.07%	–
BEPC	New	BROOKFIELD RENEWABLE CORP-A (C	$2,253,000	–	53,711	–	0.07%	–
CAT	New	CATERPILLAR	$2,249,000	–	10,334	–	0.07%	–
TFC	New	TRUIST FINANCIAL CORP	$2,160,000	–	38,915	–	0.07%	–
EFX	New	EQUIFAX	$2,055,000	–	8,578	–	0.06%	–
KO	New	COCA-COLA	$1,872,000	–	34,600	–	0.06%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$1,699,000	–	38,545	–	0.05%	–
MCD	New	MCDONALD'S	$1,628,000	–	7,047	–	0.05%	–
BDX	New	BECTON DICKINSON & CO	$1,654,000	–	6,803	–	0.05%	–
STT	New	STATE STREET	$1,604,000	–	19,493	–	0.05%	–
ABB	New	ABB LTD ADR (SZ)	$1,583,000	–	46,564	–	0.05%	–
RHHBY	New	ROCHE HOLDING AG (SZ)	$1,527,000	–	32,490	–	0.05%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$1,472,000	–	14,527	–	0.04%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$1,399,000	–	21,506	–	0.04%	–
APD	New	AIR PRODUCTS AND CHEMICALS	$1,396,000	–	4,853	–	0.04%	–
DD	New	DUPONT DE NEMOURS	$1,332,000	–	17,210	–	0.04%	–
VMC	New	VULCAN MATERIALS	$1,302,000	–	7,481	–	0.04%	–
NSC	New	NORFOLK SOUTHERN	$1,297,000	–	4,885	–	0.04%	–
GOOGL	New	ALPHABET INC CLASS A	$1,267,000	–	519	–	0.04%	–
TT	New	TRANE TECHNOLOGIES PLC (IL)	$1,102,000	–	5,985	–	0.03%	–
T	New	AT&T	$1,065,000	–	36,993	–	0.03%	–
DLR	New	DIGITAL REALTY TRUST	$988,000	–	6,568	–	0.03%	–
MMC	New	MARSH & MCLENNAN	$988,000	–	7,025	–	0.03%	–
CVX	New	CHEVRON	$906,000	–	8,650	–	0.03%	–
ROK	New	ROCKWELL AUTOMATION	$901,000	–	3,150	–	0.03%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$890,000	–	45,165	–	0.03%	–
DUK	New	DUKE ENERGY CORP NEW	$896,000	–	9,079	–	0.03%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$856,000	–	7,375	–	0.03%	–
RTX	New	RAYTHEON TECHNOLOGIES	$671,000	–	7,870	–	0.02%	–
BMY	New	BRISTOL-MYERS SQUIBB	$634,000	–	9,490	–	0.02%	–
ORCL	New	ORACLE CORP COM	$628,000	–	8,065	–	0.02%	–
IBM	New	IBM	$630,000	–	4,300	–	0.02%	–
CMI	New	CUMMINS INC	$585,000	–	2,400	–	0.02%	–
SNA	New	SNAP-ON	$591,000	–	2,645	–	0.02%	–
FNB	New	FNB CORP	$575,000	–	46,656	–	0.02%	–
ABT	New	ABBOTT LABORATORIES	$510,000	–	4,399	–	0.02%	–
GE	New	GENERAL ELECTRIC	$445,000	–	33,042	–	0.01%	–
NVS	New	NOVARTIS AG ADS (SZ)	$433,000	–	4,745	–	0.01%	–
DOW	New	DOW INC	$442,000	–	6,989	–	0.01%	–
UL	New	UNILEVER PLC ADR (GB)	$431,000	–	7,373	–	0.01%	–
LEG	New	LEGGETT & PLATT	$406,000	–	7,831	–	0.01%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG (TW)	$400,000	–	3,330	–	0.01%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CORP	$386,000	–	5,117	–	0.01%	–
CB	New	CHUBB LTD (SZ)	$399,000	–	2,510	–	0.01%	–
LOW	New	LOWE'S COMPANIES	$386,000	–	1,992	–	0.01%	–
HBAN	New	HUNTINGTON BANCSHARES	$334,000	–	23,400	–	0.01%	–
COF	New	CAPITAL ONE FINANCIAL CP	$336,000	–	2,174	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$324,000	–	5,185	–	0.01%	–
INTC	New	INTEL CORP	$286,000	–	5,090	–	0.01%	–
EL	New	ESTEE LAUDER	$307,000	–	965	–	0.01%	–
A	New	AGILENT TECHNOLOGIES	$297,000	–	2,010	–	0.01%	–
ETN	New	EATON CORP	$282,000	–	1,900	–	0.01%	–
ABBV	New	ABBVIE INC	$249,000	–	2,215	–	0.01%	–
ADI	New	ANALOG DEVICES INC COM	$255,000	–	1,481	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$260,000	–	3,349	–	0.01%	–
AON	New	AON PLC	$265,000	–	1,110	–	0.01%	–
IR	New	INGERSOLL RAND (IL)	$226,000	–	4,629	–	0.01%	–
XOM	New	EXXON MOBIL	$236,000	–	3,739	–	0.01%	–
C	New	CITIGROUP INC	$228,000	–	3,220	–	0.01%	–
SBUX	New	STARBUCKS CORPORATION	$215,000	–	1,921	–	0.01%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$210,000	–	5,274	–	0.01%	–

Q4 2020

			Value		Shares		↓ Weighting
ATI	Exit	ALLEGHENY TECH	$0	–	-23,830	–	-0.00%	–
SYK	Exit	STRYKER	$0	–	-1,920	–	-0.01%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-4,020	–	-0.01%	–
EL	Exit	ESTEE LAUDER	$0	–	-1,930	–	-0.01%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-66,084	–	-0.01%	–
AON	Exit	AON PLC	$0	–	-2,220	–	-0.01%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-2,400	–	-0.01%	–
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CORP	$0	–	-10,234	–	-0.01%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG (TW)	$0	–	-6,660	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-10,695	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-11,240	–	-0.01%	–
LOW	Exit	LOWES COMPANIES INC	$0	–	-3,634	–	-0.01%	–
HBAN	Exit	HUNTINGTON BANCSHARES	$0	–	-63,800	–	-0.01%	–
CB	Exit	CHUBB LTD (SZ)	$0	–	-5,020	–	-0.01%	–
FNB	Exit	FNB CORP	$0	–	-93,312	–	-0.01%	–
DOW	Exit	DOW INC	$0	–	-14,426	–	-0.01%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS L	$0	–	-45,979	–	-0.01%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-8,678	–	-0.01%	–
SNA	Exit	SNAP-ON	$0	–	-5,290	–	-0.01%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-19,843	–	-0.02%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-15,569	–	-0.02%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-8,718	–	-0.02%	–
DLR	Exit	DIGITAL REALTY TRUST	$0	–	-6,253	–	-0.02%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-16,130	–	-0.02%	–
CMI	Exit	CUMMINS INC	$0	–	-4,800	–	-0.02%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-16,798	–	-0.02%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-19,074	–	-0.02%	–
CVX	Exit	CHEVRON	$0	–	-15,600	–	-0.02%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-82,130	–	-0.02%	–
NVS	Exit	NOVARTIS AG ADS (SZ)	$0	–	-16,485	–	-0.03%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-6,300	–	-0.03%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-12,492	–	-0.03%	–
TT	Exit	TRANE TECHNOLOGIES PLC (IL)	$0	–	-11,970	–	-0.03%	–
GOOGL	Exit	ALPHABET INC CLASS A	$0	–	-1,058	–	-0.03%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-18,358	–	-0.03%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-14,750	–	-0.03%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-43,443	–	-0.03%	–
APD	Exit	AIR PRODUCTS AND CHEMICALS	$0	–	-6,456	–	-0.04%	–
IBM	Exit	IBM	$0	–	-16,480	–	-0.04%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-29,054	–	-0.04%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-15,074	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-56,819	–	-0.04%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-9,885	–	-0.04%	–
MCD	Exit	MCDONALD'S	$0	–	-10,760	–	-0.04%	–
T	Exit	AT&T	$0	–	-89,225	–	-0.05%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-10,680	–	-0.05%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-109,739	–	-0.05%	–
EFX	Exit	EQUIFAX	$0	–	-17,634	–	-0.05%	–
CAT	Exit	CATERPILLAR	$0	–	-19,679	–	-0.05%	–
TFC	Exit	TRUIST FINANCIAL CORP	$0	–	-81,450	–	-0.06%	–
WPM	Exit	WHEATON PRECIOUS METALS (CA)	$0	–	-80,550	–	-0.07%	–
BEPC	Exit	BROOKFIELD RENEWABLE CORP-A (C	$0	–	-67,381	–	-0.07%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-19,670	–	-0.07%	–
KO	Exit	COCA-COLA	$0	–	-80,320	–	-0.07%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-36,026	–	-0.08%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-73,998	–	-0.09%	–
AWK	Exit	AMERICAN WATER WORKS	$0	–	-35,039	–	-0.09%	–
WM	Exit	WASTE MANAGEMENT	$0	–	-48,050	–	-0.10%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-23,240	–	-0.10%	–
IP	Exit	INT'L PAPER	$0	–	-135,350	–	-0.10%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-18,190	–	-0.10%	–
PFE	Exit	PFIZER	$0	–	-165,634	–	-0.11%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-161,602	–	-0.12%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-44,429	–	-0.12%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-26,011	–	-0.13%	–
LAND	Exit	GLADSTONE LAND CORP	$0	–	-500,000	–	-0.14%	–
GLW	Exit	CORNING	$0	–	-264,489	–	-0.16%	–
MA	Exit	MASTERCARD INC CL A	$0	–	-31,440	–	-0.20%	–
XYL	Exit	XYLEM	$0	–	-129,842	–	-0.20%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-199,186	–	-0.22%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-153,248	–	-0.22%	–
MMM	Exit	3M COMPANY	$0	–	-75,255	–	-0.22%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-127,759	–	-0.25%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQUITIE	$0	–	-100,000	–	-0.30%	–
EQIX	Exit	EQUINIX	$0	–	-23,000	–	-0.32%	–
WELL	Exit	WELLTOWER	$0	–	-330,993	–	-0.34%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-110,999	–	-0.34%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-357,820	–	-0.37%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-168,460	–	-0.37%	–
PLD	Exit	PROLOGIS	$0	–	-202,510	–	-0.38%	–
CGEN	Exit	COMPUGEN LTD (IS)	$0	–	-1,300,000	–	-0.39%	–
WY	Exit	WEYERHAEUSER	$0	–	-753,408	–	-0.40%	–
SUN	Exit	SUNOCO LP	$0	–	-1,160,000	–	-0.52%	–
NEP	Exit	NEXTERA ENERGY PARTNERS LPunt	$0	–	-665,200	–	-0.74%	–
TDOC	Exit	TELADOC	$0	–	-200,000	–	-0.81%	–
ERIC	Exit	LM ERICSSON TELEPHONE ADR (SE)	$0	–	-4,042,920	–	-0.81%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-950,348	–	-0.83%	–
CRWD	Exit	CROWDSTRIKE HOLDINGS	$0	–	-330,000	–	-0.84%	–
BEP	Exit	BROOKFIELD RENEWABLE PARTNERSunt	$0	–	-883,038	–	-0.86%	–
STT	Exit	STATE STREET	$0	–	-858,968	–	-0.94%	–
DOCU	Exit	DOCUSIGN	$0	–	-250,000	–	-0.99%	–
CLX	Exit	CLOROX	$0	–	-265,154	–	-1.03%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-38,982	–	-1.06%	–
SEDG	Exit	SOLAREDGE TECHNOLOGIES	$0	–	-260,000	–	-1.14%	–
SONY	Exit	SONY CORP (JP)	$0	–	-850,000	–	-1.20%	–
VRT	Exit	VERTIV HOLDINGS	$0	–	-3,806,950	–	-1.22%	–
ACN	Exit	ACCENTURE LTD (IL)	$0	–	-299,978	–	-1.25%	–
NEM	Exit	NEWMONT CORP	$0	–	-1,103,528	–	-1.29%	–
INTU	Exit	INTUIT	$0	–	-215,680	–	-1.30%	–
PEP	Exit	PEPSICO	$0	–	-512,196	–	-1.31%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-262,000	–	-1.31%	–
BX	Exit	BLACKSTONE GROUP	$0	–	-1,383,730	–	-1.33%	–
AKAM	Exit	AKAMAI TECHNOLOGIES	$0	–	-665,130	–	-1.36%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-2,089,308	–	-1.40%	–
WMT	Exit	WALMART	$0	–	-560,190	–	-1.44%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-582,290	–	-1.50%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-806,316	–	-1.54%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-844,020	–	-1.56%	–
LHX	Exit	L3HARRIS	$0	–	-503,136	–	-1.58%	–
FMC	Exit	FMC CORP	$0	–	-821,986	–	-1.60%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-905,542	–	-1.61%	–
TTEK	Exit	TETRA TECH	$0	–	-933,700	–	-1.64%	–
RHHBY	Exit	ROCHE HOLDING AG (SZ)	$0	–	-2,084,140	–	-1.64%	–
AVY	Exit	AVERY DENNISON	$0	–	-737,830	–	-1.74%	–
V	Exit	VISA	$0	–	-502,316	–	-1.85%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-283,336	–	-1.85%	–
UPS	Exit	UNITED PARCEL SERVICE	$0	–	-607,500	–	-1.87%	–
DIS	Exit	WALT DISNEY	$0	–	-815,941	–	-1.87%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-264,586	–	-1.87%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-33,842	–	-1.96%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-1,151,910	–	-1.99%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-729,602	–	-2.00%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-811,930	–	-2.08%	–
ADBE	Exit	ADOBE	$0	–	-233,370	–	-2.11%	–
NVDA	Exit	NVIDIA CORP COM	$0	–	-214,150	–	-2.14%	–
UNP	Exit	UNION PACIFIC	$0	–	-593,784	–	-2.16%	–
ZTS	Exit	ZOETIS	$0	–	-717,130	–	-2.19%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-607,992	–	-2.21%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-844,994	–	-2.22%	–
HON	Exit	HONEYWELL INT'L	$0	–	-744,823	–	-2.26%	–
DE	Exit	DEERE & CO	$0	–	-560,817	–	-2.29%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-409,674	–	-2.34%	–
MKC	Exit	MCCORMICK & CO	$0	–	-656,484	–	-2.35%	–
SPGI	Exit	S & P GLOBAL	$0	–	-367,408	–	-2.44%	–
HD	Exit	HOME DEPOT	$0	–	-488,792	–	-2.50%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-323,513	–	-2.63%	–
MSFT	Exit	MICROSOFT	$0	–	-683,430	–	-2.65%	–
AAPL	Exit	APPLE INC	$0	–	-1,571,627	–	-3.36%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$182,010,000	+9.2%	1,571,627	+244.0%	3.36%	-2.2%
MSFT	Sell	MICROSOFT	$143,746,000	-1.0%	683,430	-4.2%	2.65%	-11.3%
TMO	Sell	THERMO FISHER SCIENTIFIC	$142,838,000	+20.2%	323,513	-1.4%	2.63%	+7.6%
HD	Sell	HOME DEPOT	$135,742,000	+10.4%	488,792	-0.4%	2.50%	-1.1%
SPGI	Sell	S & P GLOBAL	$132,488,000	+9.0%	367,408	-0.4%	2.44%	-2.4%
MKC	Sell	MCCORMICK & CO	$127,424,000	+7.8%	656,484	-0.3%	2.35%	-3.5%
TDY	Buy	TELEDYNE TECHNOLOGIES	$127,084,000	+0.5%	409,674	+0.8%	2.34%	-10.0%
DE	Sell	DEERE & CO	$124,294,000	+40.8%	560,817	-0.1%	2.29%	+26.1%
HON	Buy	HONEYWELL INT'L	$122,605,000	+15.1%	744,823	+1.1%	2.26%	+3.0%
TXN	Buy	TEXAS INSTRUMENTS	$120,656,000	+12.9%	844,994	+0.4%	2.22%	+1.1%
PYPL	Sell	PAYPAL HOLDINGS	$119,792,000	-0.9%	607,992	-12.4%	2.21%	-11.3%
ZTS	Buy	ZOETIS	$118,592,000	+20.8%	717,130	+0.1%	2.19%	+8.2%
UNP	Buy	UNION PACIFIC	$116,898,000	+16.6%	593,784	+0.1%	2.16%	+4.4%
NVDA	Sell	NVIDIA CORP COM	$115,902,000	+10.8%	214,150	-22.3%	2.14%	-0.8%
ADBE	Sell	ADOBE	$114,452,000	+10.8%	233,370	-1.7%	2.11%	-0.8%
PG	Buy	PROCTER & GAMBLE	$112,850,000	+16.6%	811,930	+0.3%	2.08%	+4.4%
JNJ	Buy	JOHNSON & JOHNSON	$108,623,000	+6.7%	729,602	+0.8%	2.00%	-4.5%
CHD	Sell	CHURCH AND DWIGHT	$107,946,000	+20.1%	1,151,910	-1.0%	1.99%	+7.5%
AMZN	Sell	AMAZON.COM INC	$106,560,000	+13.6%	33,842	-0.5%	1.96%	+1.7%
LMT	Buy	LOCKHEED MARTIN	$101,410,000	+5.5%	264,586	+0.4%	1.87%	-5.6%
DIS	Buy	WALT DISNEY	$101,242,000	+11.4%	815,941	+0.1%	1.87%	-0.3%
UPS	Sell	UNITED PARCEL SERVICE	$101,228,000	+48.6%	607,500	-0.9%	1.87%	+33.0%
COST	Buy	COSTCO WHOLESALE	$100,584,000	+18.6%	283,336	+1.3%	1.85%	+6.1%
V	Sell	VISA	$100,448,000	+3.0%	502,316	-0.5%	1.85%	-7.7%
AVY	Buy	AVERY DENNISON	$94,324,000	+13.8%	737,830	+1.5%	1.74%	+1.9%
RHHBY	Buy	ROCHE HOLDING AG (SZ)	$89,222,000	+1.3%	2,084,140	+2.7%	1.64%	-9.3%
TTEK	Buy	TETRA TECH	$89,168,000	+20.8%	933,700	+0.1%	1.64%	+8.2%
JPM	Buy	JPMORGAN CHASE	$87,176,000	+5.3%	905,542	+2.9%	1.61%	-5.7%
FMC	Sell	FMC CORP	$87,056,000	+6.2%	821,986	-0.1%	1.60%	-4.9%
LHX	Buy	L3HARRIS	$85,452,000	+1.7%	503,136	+1.6%	1.58%	-9.0%
AXP	Sell	AMERICAN EXPRESS	$84,614,000	+3.8%	844,020	-1.5%	1.56%	-7.1%
MDT	Buy	MEDTRONIC PLC (IL)	$83,792,000	+19.3%	806,316	+5.3%	1.54%	+6.8%
ADP	Buy	AUTOMATIC DATA PROCESSING	$81,224,000	-5.2%	582,290	+1.2%	1.50%	-15.1%
WMT	Sell	WALMART	$78,376,000	+16.5%	560,190	-0.3%	1.44%	+4.3%
SCHW	Buy	CHARLES SCHWAB CORP	$75,696,000	+38.4%	2,089,308	+28.9%	1.40%	+23.9%
AKAM	Buy	AKAMAI TECHNOLOGIES	$73,524,000	+4.9%	665,130	+1.6%	1.36%	-6.1%
BX	Buy	BLACKSTONE GROUP	$72,230,000	-5.2%	1,383,730	+2.9%	1.33%	-15.1%
PEP	Buy	PEPSICO	$70,990,000	+5.4%	512,196	+0.5%	1.31%	-5.6%
INTU	Sell	INTUIT	$70,356,000	+9.6%	215,680	-0.5%	1.30%	-1.8%
NEM	New	NEWMONT CORP	$70,018,000	–	1,103,528	–	1.29%	–
ACN	Sell	ACCENTURE LTD (IL)	$67,792,000	-7.1%	299,978	-11.8%	1.25%	-16.8%
VRT	Sell	VERTIV HOLDINGS	$65,936,000	+27.1%	3,806,950	-0.5%	1.22%	+13.9%
GOOG	Buy	ALPHABET INC CLASS C	$57,288,000	+13.0%	38,982	+8.7%	1.06%	+1.1%
STT	Buy	STATE STREET	$50,962,000	-6.5%	858,968	+0.2%	0.94%	-16.3%
BEP	Buy	BROOKFIELD RENEWABLE PARTNERSunt	$46,404,000	+24.4%	883,038	+13.4%	0.86%	+11.3%
ERIC	Buy	LM ERICSSON TELEPHONE ADR (SE)	$44,028,000	+57.8%	4,042,920	+34.8%	0.81%	+41.5%
NEP	Buy	NEXTERA ENERGY PARTNERS LPunt	$39,886,000	+26.4%	665,200	+8.1%	0.74%	+13.1%
SUN	Buy	SUNOCO LP	$28,292,000	+19.2%	1,160,000	+11.5%	0.52%	+6.7%
WY	Sell	WEYERHAEUSER	$21,487,000	+26.8%	753,408	-0.1%	0.40%	+13.5%
CGEN	New	COMPUGEN LTD (IS)	$21,124,000	–	1,300,000	–	0.39%	–
PLD	Buy	PROLOGIS	$20,377,000	+16.3%	202,510	+7.8%	0.38%	+4.2%
NSRGY	Buy	NESTLE SA ADR (SZ)	$20,090,000	+8.2%	168,460	+0.2%	0.37%	-3.1%
DD	Buy	DUPONT DE NEMOURS	$19,851,000	+1116.4%	357,820	+1064.4%	0.37%	+976.5%
CCI	Sell	CROWN CASTLE INT'L	$18,481,000	-0.6%	110,999	-0.1%	0.34%	-11.0%
WELL	Buy	WELLTOWER	$18,234,000	+18.4%	330,993	+11.2%	0.34%	+6.0%
EQIX	Buy	EQUINIX	$17,483,000	+15.8%	23,000	+7.0%	0.32%	+3.5%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$13,602,000	+19.5%	127,759	-0.6%	0.25%	+7.3%
MMM	Buy	3M COMPANY	$12,054,000	+9.4%	75,255	+6.6%	0.22%	-2.2%
VZ	Buy	VERIZON COMMUNICATIONS	$11,850,000	+10.9%	199,186	+2.8%	0.22%	-0.9%
CL	Sell	COLGATE PALMOLIVE	$11,823,000	+3.3%	153,248	-1.9%	0.22%	-7.6%
XYL	Sell	XYLEM	$10,922,000	+28.5%	129,842	-0.8%	0.20%	+14.9%
MA	Buy	MASTERCARD INC CL A	$10,632,000	+20.5%	31,440	+5.4%	0.20%	+7.7%
GLW	Buy	CORNING	$8,572,000	+32.1%	264,489	+5.5%	0.16%	+17.9%
LAND	Buy	GLADSTONE LAND CORP	$7,510,000	+55.3%	500,000	+63.9%	0.14%	+38.0%
NEE	Sell	NEXTERA ENERGY	$7,219,000	+15.0%	26,011	-0.5%	0.13%	+3.1%
KMB	Sell	KIMBERLY-CLARK	$6,560,000	+3.3%	44,429	-1.1%	0.12%	-7.6%
CSCO	Sell	CISCO SYSTEMS	$6,366,000	-93.8%	161,602	-92.6%	0.12%	-94.4%
PFE	Buy	PFIZER	$6,078,000	+14.6%	165,634	+2.1%	0.11%	+2.8%
CP	Sell	CANADIAN PACIFIC RAILWAY LTD (	$5,538,000	+18.4%	18,190	-0.7%	0.10%	+6.2%
IP	Sell	INT'L PAPER	$5,488,000	+10.3%	135,350	-4.2%	0.10%	-1.0%
BDX	Sell	BECTON DICKINSON & CO	$5,408,000	-22.1%	23,240	-19.9%	0.10%	-30.1%
AWK	Sell	AMERICAN WATER WORKS	$5,076,000	+12.6%	35,039	-0.0%	0.09%	+1.1%
EMR	Sell	EMERSON ELECTRIC	$4,852,000	+5.5%	73,998	-0.2%	0.09%	-6.3%
IFF	Sell	INTL FLAVORS& FRAGRANCES	$4,412,000	0.0%	36,026	-0.0%	0.08%	-11.0%
BEPC	New	BROOKFIELD RENEWABLE CORP-A (C	$3,949,000	–	67,381	–	0.07%	–
CAT	Sell	CATERPILLAR	$2,935,000	+17.9%	19,679	-0.0%	0.05%	+5.9%
ABB	Buy	ABB LTD ADR (SZ)	$2,793,000	+16.7%	109,739	+3.4%	0.05%	+4.1%
FDX	Buy	FEDEX CORPORATION	$2,686,000	+140.3%	10,680	+33.8%	0.05%	+117.4%
T	Sell	AT&T	$2,544,000	-6.7%	89,225	-1.0%	0.05%	-16.1%
NSC	Sell	NORFOLK SOUTHERN	$2,116,000	+21.1%	9,885	-0.8%	0.04%	+8.3%
GSK	Sell	GLAXOSMITHKLINE PLC ADR (GB)	$2,138,000	-73.3%	56,819	-71.0%	0.04%	-76.4%
VMC	Sell	VULCAN MATERIALS	$2,043,000	+16.5%	15,074	-0.4%	0.04%	+5.6%
IBM	Buy	IBM	$2,006,000	+44.1%	16,480	+43.1%	0.04%	+27.6%
APD	Buy	AIR PRODUCTS AND CHEMICALS	$1,922,000	+72.2%	6,456	+39.7%	0.04%	+52.2%
BNS	Sell	BANK OF NOVA SCOTIA ADR (CA)	$1,804,000	-2.5%	43,443	-3.2%	0.03%	-13.2%
DUK	Sell	DUKE ENERGY CORP NEW	$1,626,000	+8.1%	18,358	-2.5%	0.03%	-3.2%
TT	Sell	TRANE TECHNOLOGIES PLC (IL)	$1,452,000	+19.0%	11,970	-12.6%	0.03%	+8.0%
NVS	Sell	NOVARTIS AG ADS (SZ)	$1,433,000	-11.9%	16,485	-11.4%	0.03%	-21.2%
MMC	Buy	MARSH & MCLENNAN	$1,432,000	+11.2%	12,492	+4.2%	0.03%	-3.7%
BMY	Buy	BRISTOL-MYERS SQUIBB	$1,150,000	+3.0%	19,074	+0.5%	0.02%	-8.7%
MFC	Sell	MANULIFE FINL CORP ADR (CA)	$1,142,000	-8.9%	82,130	-10.9%	0.02%	-19.2%
UL	Sell	UNILEVER PLC ADR (GB)	$1,036,000	+9.1%	16,798	-3.0%	0.02%	-5.0%
DLR	Buy	DIGITAL REALTY TRUST	$918,000	+168.4%	6,253	+159.7%	0.02%	+142.9%
RTX	Sell	RAYTHEON TECHNOLOGIES	$896,000	-6.7%	15,569	-0.0%	0.02%	-15.0%
LEG	Sell	LEGGETT & PLATT	$817,000	+13.5%	19,843	-3.2%	0.02%	0.0%
SNA	Sell	SNAP-ON	$778,000	-18.8%	5,290	-23.6%	0.01%	-30.0%
EPD	Sell	ENTERPRISE PRODUCTS PARTNERS L	$726,000	-13.2%	45,979	-0.0%	0.01%	-23.5%
DOW	Sell	DOW INC	$678,000	+4.6%	14,426	-9.2%	0.01%	-7.7%
MDLZ	Sell	MONDELEZ INTERNATIONAL	$615,000	+9.0%	10,695	-2.9%	0.01%	-8.3%
HBAN	Sell	HUNTINGTON BANCSHARES	$586,000	-46.6%	63,800	-47.5%	0.01%	-52.2%
INTC	Sell	INTEL CORP	$582,000	-24.8%	11,240	-13.0%	0.01%	-31.2%
BIPC	New	BROOKFIELD INFRASTRUCTURE CORP	$566,000	–	10,234	–	0.01%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG (TW)	$540,000	–	6,660	–	0.01%	–
EL	New	ESTEE LAUDER	$422,000	–	1,930	–	0.01%	–
A	New	AGILENT TECHNOLOGIES	$406,000	–	4,020	–	0.01%	–
SYK	New	STRYKER	$400,000	–	1,920	–	0.01%	–
ATI	Sell	ALLEGHENY TECH	$208,000	-57.0%	23,830	-49.8%	0.00%	-60.0%
TRP	Exit	TC ENERGY (CA)	$0	–	-23,720	–	-0.02%	–
XOM	Exit	EXXON MOBIL	$0	–	-24,028	–	-0.02%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$166,672,000	–	456,884	–	3.43%	–
MSFT	New	MICROSOFT	$145,184,000	–	713,400	–	2.99%	–
TDY	New	TELEDYNE TECHNOLOGIES	$126,436,000	–	406,614	–	2.60%	–
HD	New	HOME DEPOT	$122,908,000	–	490,632	–	2.53%	–
SPGI	New	S & P GLOBAL	$121,534,000	–	368,864	–	2.50%	–
PYPL	New	PAYPAL HOLDINGS	$120,936,000	–	694,116	–	2.49%	–
TMO	New	THERMO FISHER SCIENTIFIC	$118,862,000	–	328,038	–	2.45%	–
MKC	New	MCCORMICK & CO	$118,174,000	–	658,686	–	2.43%	–
TXN	New	TEXAS INSTRUMENTS	$106,840,000	–	841,456	–	2.20%	–
HON	New	HONEYWELL INT'L	$106,556,000	–	736,958	–	2.19%	–
NVDA	New	NVIDIA CORP COM	$104,650,000	–	275,460	–	2.16%	–
ADBE	New	ADOBE	$103,330,000	–	237,370	–	2.13%	–
CSCO	New	CISCO SYSTEMS	$102,232,000	–	2,191,934	–	2.10%	–
JNJ	New	JOHNSON & JOHNSON	$101,836,000	–	724,148	–	2.10%	–
UNP	New	UNION PACIFIC	$100,282,000	–	593,144	–	2.06%	–
ZTS	New	ZOETIS	$98,172,000	–	716,370	–	2.02%	–
V	New	VISA	$97,488,000	–	504,670	–	2.01%	–
PG	New	PROCTER & GAMBLE	$96,746,000	–	809,110	–	1.99%	–
LMT	New	LOCKHEED MARTIN	$96,166,000	–	263,528	–	1.98%	–
AMZN	New	AMAZON.COM INC	$93,832,000	–	34,012	–	1.93%	–
DIS	New	WALT DISNEY	$90,860,000	–	814,812	–	1.87%	–
CHD	New	CHURCH AND DWIGHT	$89,908,000	–	1,163,102	–	1.85%	–
DE	New	DEERE & CO	$88,258,000	–	561,610	–	1.82%	–
RHHBY	New	ROCHE HOLDING AG (SZ)	$88,038,000	–	2,029,460	–	1.81%	–
ADP	New	AUTOMATIC DATA PROCESSING	$85,654,000	–	575,280	–	1.76%	–
COST	New	COSTCO WHOLESALE	$84,840,000	–	279,806	–	1.75%	–
LHX	New	L3HARRIS	$84,004,000	–	495,106	–	1.73%	–
AVY	New	AVERY DENNISON	$82,900,000	–	726,622	–	1.71%	–
JPM	New	JPMORGAN CHASE	$82,776,000	–	880,042	–	1.70%	–
FMC	New	FMC CORP	$81,992,000	–	823,046	–	1.69%	–
AXP	New	AMERICAN EXPRESS	$81,534,000	–	856,450	–	1.68%	–
BX	New	BLACKSTONE GROUP	$76,176,000	–	1,344,450	–	1.57%	–
VRTX	New	VERTEX PHARMACEUTICALS	$76,062,000	–	262,000	–	1.57%	–
TTEK	New	TETRA TECH	$73,826,000	–	933,100	–	1.52%	–
ACN	New	ACCENTURE LTD (IL)	$73,000,000	–	339,978	–	1.50%	–
MDT	New	MEDTRONIC PLC (IL)	$70,232,000	–	765,896	–	1.45%	–
AKAM	New	AKAMAI TECHNOLOGIES	$70,104,000	–	654,630	–	1.44%	–
UPS	New	UNITED PARCEL SERVICE	$68,142,000	–	612,900	–	1.40%	–
PEP	New	PEPSICO	$67,374,000	–	509,400	–	1.39%	–
WMT	New	WALMART	$67,276,000	–	561,660	–	1.38%	–
INTU	New	INTUIT	$64,178,000	–	216,680	–	1.32%	–
SONY	New	SONY CORP (JP)	$58,760,000	–	850,000	–	1.21%	–
CLX	New	CLOROX	$58,166,000	–	265,154	–	1.20%	–
SCHW	New	CHARLES SCHWAB CORP	$54,682,000	–	1,620,698	–	1.13%	–
STT	New	STATE STREET	$54,492,000	–	857,470	–	1.12%	–
VRT	New	VERTIV HOLDINGS	$51,872,000	–	3,825,300	–	1.07%	–
GOOG	New	ALPHABET INC CLASS C	$50,694,000	–	35,862	–	1.04%	–
DOCU	New	DOCUSIGN	$43,052,000	–	250,000	–	0.89%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$39,068,000	–	950,348	–	0.80%	–
TDOC	New	TELADOC	$38,168,000	–	200,000	–	0.79%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERSunt	$37,294,000	–	778,580	–	0.77%	–
SEDG	New	SOLAREDGE TECHNOLOGIES	$36,082,000	–	260,000	–	0.74%	–
CRWD	New	CROWDSTRIKE HOLDINGS	$33,096,000	–	330,000	–	0.68%	–
NEP	New	NEXTERA ENERGY PARTNERS LPunt	$31,548,000	–	615,200	–	0.65%	–
ERIC	New	LM ERICSSON TELEPHONE ADR (SE)	$27,900,000	–	3,000,000	–	0.57%	–
SUN	New	SUNOCO LP	$23,744,000	–	1,040,000	–	0.49%	–
CCI	New	CROWN CASTLE INT'L	$18,600,000	–	111,145	–	0.38%	–
NSRGY	New	NESTLE SA ADR (SZ)	$18,560,000	–	168,050	–	0.38%	–
PLD	New	PROLOGIS	$17,528,000	–	187,806	–	0.36%	–
WY	New	WEYERHAEUSER	$16,940,000	–	754,250	–	0.35%	–
ARE	New	ALEXANDRIA REAL ESTATE EQUITIE	$16,225,000	–	100,000	–	0.33%	–
WELL	New	WELLTOWER	$15,406,000	–	297,695	–	0.32%	–
EQIX	New	EQUINIX	$15,099,000	–	21,500	–	0.31%	–
CL	New	COLGATE PALMOLIVE	$11,442,000	–	156,192	–	0.24%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$11,384,000	–	128,520	–	0.23%	–
MMM	New	3M COMPANY	$11,016,000	–	70,616	–	0.23%	–
VZ	New	VERIZON COMMUNICATIONS	$10,684,000	–	193,810	–	0.22%	–
MA	New	MASTERCARD INC CL A	$8,824,000	–	29,840	–	0.18%	–
XYL	New	XYLEM	$8,500,000	–	130,844	–	0.18%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$8,002,000	–	196,180	–	0.16%	–
BDX	New	BECTON DICKINSON & CO	$6,938,000	–	28,996	–	0.14%	–
GLW	New	CORNING	$6,490,000	–	250,610	–	0.13%	–
KMB	New	KIMBERLY-CLARK	$6,352,000	–	44,940	–	0.13%	–
NEE	New	NEXTERA ENERGY	$6,278,000	–	26,142	–	0.13%	–
PFE	New	PFIZER	$5,304,000	–	162,194	–	0.11%	–
WM	New	WASTE MANAGEMENT	$5,088,000	–	48,050	–	0.10%	–
IP	New	INT'L PAPER	$4,976,000	–	141,350	–	0.10%	–
LAND	New	GLADSTONE LAND CORP	$4,837,000	–	305,000	–	0.10%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$4,678,000	–	18,320	–	0.10%	–
EMR	New	EMERSON ELECTRIC	$4,598,000	–	74,134	–	0.10%	–
AWK	New	AMERICAN WATER WORKS	$4,508,000	–	35,040	–	0.09%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$4,412,000	–	36,028	–	0.09%	–
PH	New	PARKER-HANNIFIN	$3,604,000	–	19,670	–	0.07%	–
KO	New	COCA-COLA	$3,588,000	–	80,320	–	0.07%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$3,548,000	–	80,550	–	0.07%	–
TFC	New	TRUIST FINANCIAL CORP	$3,058,000	–	81,450	–	0.06%	–
EFX	New	EQUIFAX	$3,030,000	–	17,634	–	0.06%	–
T	New	AT&T	$2,726,000	–	90,152	–	0.06%	–
CAT	New	CATERPILLAR	$2,490,000	–	19,680	–	0.05%	–
ABB	New	ABB LTD ADR (SZ)	$2,394,000	–	106,150	–	0.05%	–
MCD	New	MCDONALD'S	$1,984,000	–	10,760	–	0.04%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$1,970,000	–	29,054	–	0.04%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$1,850,000	–	44,874	–	0.04%	–
NSC	New	NORFOLK SOUTHERN	$1,748,000	–	9,960	–	0.04%	–
VMC	New	VULCAN MATERIALS	$1,754,000	–	15,140	–	0.04%	–
DD	New	DUPONT DE NEMOURS	$1,632,000	–	30,730	–	0.03%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$1,584,000	–	14,750	–	0.03%	–
NVS	New	NOVARTIS AG ADS (SZ)	$1,626,000	–	18,610	–	0.03%	–
GOOGL	New	ALPHABET INC CLASS A	$1,500,000	–	1,058	–	0.03%	–
DUK	New	DUKE ENERGY CORP NEW	$1,504,000	–	18,826	–	0.03%	–
IBM	New	IBM	$1,392,000	–	11,520	–	0.03%	–
CVX	New	CHEVRON	$1,392,000	–	15,600	–	0.03%	–
ROK	New	ROCKWELL AUTOMATION	$1,342,000	–	6,300	–	0.03%	–
MMC	New	MARSH & MCLENNAN	$1,288,000	–	11,992	–	0.03%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$1,254,000	–	92,130	–	0.03%	–
TT	New	TRANE TECHNOLOGIES PLC (IL)	$1,220,000	–	13,700	–	0.02%	–
HBAN	New	HUNTINGTON BANCSHARES	$1,098,000	–	121,600	–	0.02%	–
FDX	New	FEDEX CORPORATION	$1,118,000	–	7,980	–	0.02%	–
APD	New	AIR PRODUCTS AND CHEMICALS	$1,116,000	–	4,620	–	0.02%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,116,000	–	18,980	–	0.02%	–
XOM	New	EXXON MOBIL	$1,074,000	–	24,028	–	0.02%	–
TRP	New	TC ENERGY (CA)	$1,016,000	–	23,720	–	0.02%	–
RTX	New	RAYTHEON TECHNOLOGIES	$960,000	–	15,570	–	0.02%	–
SNA	New	SNAP-ON	$958,000	–	6,920	–	0.02%	–
UL	New	UNILEVER PLC ADR (GB)	$950,000	–	17,310	–	0.02%	–
ORCL	New	ORACLE CORP COM	$892,000	–	16,130	–	0.02%	–
CMI	New	CUMMINS INC	$832,000	–	4,800	–	0.02%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS L	$836,000	–	45,980	–	0.02%	–
INTC	New	INTEL CORP	$774,000	–	12,920	–	0.02%	–
ABT	New	ABBOTT LABORATORIES	$798,000	–	8,718	–	0.02%	–
LEG	New	LEGGETT & PLATT	$720,000	–	20,500	–	0.02%	–
FNB	New	FNB CORP	$700,000	–	93,312	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$672,000	–	8,678	–	0.01%	–
DOW	New	DOW INC	$648,000	–	15,890	–	0.01%	–
CB	New	CHUBB LTD (SZ)	$636,000	–	5,020	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$564,000	–	11,020	–	0.01%	–
ATI	New	ALLEGHENY TECH	$484,000	–	47,480	–	0.01%	–
LOW	New	LOWES COMPANIES INC	$492,000	–	3,634	–	0.01%	–
AON	New	AON PLC	$428,000	–	2,220	–	0.01%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$428,000	–	2,400	–	0.01%	–
GE	New	GENERAL ELECTRIC	$452,000	–	66,084	–	0.01%	–
DLR	New	DIGITAL REALTY TRUST	$342,000	–	2,408	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
RDSA	Exit	ROYAL DUTCH SHELL PLC ADR A (N	$0	–	-3,744	–	-0.01%	–
AON	Exit	AON PLC	$0	–	-1,110	–	-0.01%	–
LOW	Exit	LOWES COMPANIES INC	$0	–	-1,867	–	-0.01%	–
SBUX	Exit	STARBUCKS CORPORATION	$0	–	-2,350	–	-0.01%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-3,180	–	-0.01%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-1,560	–	-0.01%	–
WAB	Exit	WABTEC	$0	–	-3,500	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-4,120	–	-0.01%	–
PNC	Exit	PNC FINL SVCS GROUP COM	$0	–	-2,175	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-5,510	–	-0.01%	–
CTVA	Exit	CORTEVA	$0	–	-10,559	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-6,790	–	-0.02%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-4,349	–	-0.02%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-4,359	–	-0.02%	–
CMI	Exit	CUMMINS INC	$0	–	-2,400	–	-0.02%	–
RHHBY	Exit	ROCHE HOLDING AG (SZ)	$0	–	-12,126	–	-0.02%	–
OLN	Exit	OLIN	$0	–	-24,050	–	-0.02%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-9,490	–	-0.02%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-8,990	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-57,442	–	-0.02%	–
FNB	Exit	FNB CORP	$0	–	-46,656	–	-0.02%	–
CB	Exit	CHUBB LTD (SZ)	$0	–	-3,500	–	-0.02%	–
CBS	Exit	CBS CORP	$0	–	-15,405	–	-0.03%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-10,440	–	-0.03%	–
TRP	Exit	TC ENERGY (CA)	$0	–	-12,325	–	-0.03%	–
GOOGL	Exit	ALPHABET INC CLASS A	$0	–	-600	–	-0.03%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-4,450	–	-0.03%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-17,875	–	-0.03%	–
NVS	Exit	NOVARTIS AG ADS (SZ)	$0	–	-9,096	–	-0.03%	–
IBM	Exit	IBM	$0	–	-6,780	–	-0.04%	–
DAL	Exit	DELTA AIR LINES	$0	–	-16,984	–	-0.04%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-10,544	–	-0.04%	–
IR	Exit	INGERSOLL-RAND PLC (IL)	$0	–	-8,800	–	-0.05%	–
DOW	Exit	DOW INC	$0	–	-22,789	–	-0.05%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-8,021	–	-0.05%	–
MAR	Exit	MARRIOTT INT'L	$0	–	-8,910	–	-0.05%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-10,925	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-14,527	–	-0.05%	–
EFX	Exit	EQUIFAX	$0	–	-8,817	–	-0.05%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-22,437	–	-0.05%	–
CAT	Exit	CATERPILLAR	$0	–	-10,360	–	-0.06%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-9,920	–	-0.06%	–
PLD	Exit	PROLOGIS	$0	–	-19,451	–	-0.07%	–
SNA	Exit	SNAP-ON	$0	–	-10,960	–	-0.07%	–
WY	Exit	WEYERHAEUSER	$0	–	-62,980	–	-0.07%	–
T	Exit	AT&T	$0	–	-47,316	–	-0.08%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-90,915	–	-0.08%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-16,510	–	-0.08%	–
XOM	Exit	EXXON MOBIL	$0	–	-26,154	–	-0.08%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-11,015	–	-0.08%	–
HBAN	Exit	HUNTINGTON BANCSHARES	$0	–	-146,680	–	-0.09%	–
ATI	Exit	ALLEGHENY TECH	$0	–	-106,640	–	-0.09%	–
AWK	Exit	AMERICAN WATER WORKS	$0	–	-17,373	–	-0.09%	–
CCI	Exit	CROWN CASTLE INTERNATIONAL COR	$0	–	-16,290	–	-0.10%	–
MCD	Exit	MCDONALD'S	$0	–	-10,594	–	-0.10%	–
BBT	Exit	BB&T	$0	–	-43,025	–	-0.10%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-19,369	–	-0.10%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-23,716	–	-0.10%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-10,720	–	-0.10%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-131,540	–	-0.10%	–
PFE	Exit	PFIZER	$0	–	-70,052	–	-0.11%	–
IP	Exit	INT'L PAPER	$0	–	-61,340	–	-0.11%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-2,128	–	-0.11%	–
KO	Exit	COCA-COLA	$0	–	-47,855	–	-0.11%	–
WELL	Exit	WELLTOWER INC	$0	–	-32,280	–	-0.12%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-12,874	–	-0.13%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-45,567	–	-0.13%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-22,900	–	-0.14%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-13,230	–	-0.14%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-25,870	–	-0.16%	–
MA	Exit	MASTERCARD INC CL A	$0	–	-14,035	–	-0.16%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-65,870	–	-0.17%	–
XYL	Exit	XYLEM	$0	–	-54,667	–	-0.18%	–
OEC	Exit	ORION ENGINEERED CARBONS (LU)	$0	–	-272,935	–	-0.19%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-25,660	–	-0.20%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-200,350	–	-0.20%	–
BPY	Exit	BROOKFIELD PROPERTY PARTNERS Lunt	$0	–	-254,000	–	-0.22%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-74,735	–	-0.28%	–
PEP	Exit	PEPSICO	$0	–	-53,915	–	-0.31%	–
LUV	Exit	SOUTHWEST AIRLINES	$0	–	-186,000	–	-0.43%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS Lmlp	$0	–	-397,516	–	-0.48%	–
SLB	Exit	SCHLUMBERGER LIMITED (NE)	$0	–	-406,225	–	-0.59%	–
BEP	Exit	BROOKFIELD RENEWABLE COMMON LPunt	$0	–	-351,490	–	-0.61%	–
MTSC	Exit	MTS SYSTEMS	$0	–	-273,700	–	-0.64%	–
MMM	Exit	3M COMPANY	$0	–	-92,797	–	-0.65%	–
DBX	Exit	DROPBOX	$0	–	-790,000	–	-0.68%	–
NOK	Exit	NOKIA (FI)	$0	–	-3,568,320	–	-0.77%	–
WPM	Exit	WHEATON PRECIOUS METALS (CA)	$0	–	-738,000	–	-0.82%	–
SONY	Exit	SONY CORP (JP)	$0	–	-340,000	–	-0.85%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-74,235	–	-0.91%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-105,000	–	-0.91%	–
NVDA	Exit	NVIDIA CORP COM	$0	–	-124,150	–	-0.92%	–
BX	Exit	BLACKSTONE GROUP	$0	–	-444,585	–	-0.92%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-477,749	–	-1.01%	–
JKHY	Exit	JACK HENRY ASSOC	$0	–	-165,000	–	-1.02%	–
GRMN	Exit	GARMIN LTD (SZ)	$0	–	-300,000	–	-1.08%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-150,000	–	-1.08%	–
VMW	Exit	VMWARE INC	$0	–	-176,160	–	-1.12%	–
FSLR	Exit	FIRST SOLAR	$0	–	-458,730	–	-1.13%	–
STT	Exit	STATE STREET	$0	–	-477,465	–	-1.20%	–
NKE	Exit	NIKE	$0	–	-304,245	–	-1.21%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-244,104	–	-1.22%	–
ACN	Exit	ACCENTURE LTD (IL)	$0	–	-155,609	–	-1.27%	–
WM	Exit	WASTE MANAGEMENT	$0	–	-263,920	–	-1.29%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-303,288	–	-1.34%	–
MSI	Exit	MOTOROLA SOLUTIONS	$0	–	-187,610	–	-1.36%	–
CVX	Exit	CHEVRON	$0	–	-270,070	–	-1.36%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-454,951	–	-1.38%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-459,076	–	-1.43%	–
ADBE	Exit	ADOBE	$0	–	-124,700	–	-1.46%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-813,735	–	-1.48%	–
AVY	Exit	AVERY DENNISON	$0	–	-322,111	–	-1.56%	–
TTEK	Exit	TETRA TECH	$0	–	-433,850	–	-1.60%	–
V	Exit	VISA	$0	–	-229,417	–	-1.68%	–
UNP	Exit	UNION PACIFIC	$0	–	-250,086	–	-1.72%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-254,715	–	-1.75%	–
DE	Exit	DEERE AND CO	$0	–	-244,645	–	-1.75%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-325,142	–	-1.79%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-1,019,591	–	-1.81%	–
BA	Exit	BOEING	$0	–	-114,242	–	-1.85%	–
FMC	Exit	FMC CORP	$0	–	-500,627	–	-1.87%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-374,852	–	-1.88%	–
WMT	Exit	WALMART	$0	–	-376,532	–	-1.90%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-362,604	–	-1.92%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-416,865	–	-1.92%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-118,565	–	-1.97%	–
DIS	Exit	WALT DISNEY	$0	–	-360,356	–	-2.00%	–
GLW	Exit	CORNING	$0	–	-1,671,129	–	-2.03%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-637,611	–	-2.04%	–
ZTS	Exit	ZOETIS	$0	–	-387,645	–	-2.05%	–
LHX	Exit	L3HARRIS	$0	–	-235,753	–	-2.09%	–
SPGI	Exit	S & P GLOBAL	$0	–	-201,497	–	-2.10%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-1,007,932	–	-2.12%	–
MKC	Exit	MCCORMICK & CO	$0	–	-330,523	–	-2.20%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-182,977	–	-2.26%	–
MSFT	Exit	MICROSOFT	$0	–	-400,915	–	-2.37%	–
HD	Exit	HOME DEPOT INC	$0	–	-240,419	–	-2.37%	–
HON	Exit	HONEYWELL INT'L	$0	–	-331,259	–	-2.38%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-474,843	–	-2.61%	–
AAPL	Exit	APPLE INC	$0	–	-274,813	–	-2.62%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-237,557	–	-3.25%	–

Q3 2019

			Value		Shares		↓ Weighting
TDY	Sell	TELEDYNE TECHNOLOGIES	$76,491,000	+11.1%	237,557	-5.5%	3.25%	+9.8%
AAPL	Buy	APPLE INC	$61,550,000	+14.3%	274,813	+1.0%	2.62%	+13.0%
TXN	Sell	TEXAS INSTRUMENTS	$61,369,000	+8.2%	474,843	-3.9%	2.61%	+6.9%
HON	Sell	HONEYWELL INT'L	$56,049,000	-3.3%	331,259	-0.3%	2.38%	-4.5%
HD	Sell	HOME DEPOT INC	$55,782,000	+10.5%	240,419	-0.9%	2.37%	+9.2%
MSFT	Sell	MICROSOFT	$55,739,000	+2.1%	400,915	-1.6%	2.37%	+0.9%
TMO	Sell	THERMO FISHER SCIENTIFIC	$53,296,000	-12.6%	182,977	-11.8%	2.26%	-13.6%
MKC	Sell	MCCORMICK & CO	$51,661,000	-7.2%	330,523	-8.0%	2.20%	-8.3%
CSCO	Buy	CISCO SYSTEMS	$49,802,000	-8.3%	1,007,932	+1.6%	2.12%	-9.3%
SPGI	Sell	S & P GLOBAL	$49,363,000	-14.1%	201,497	-20.1%	2.10%	-15.1%
LHX	New	L3HARRIS	$49,188,000	–	235,753	–	2.09%	–
ZTS	Sell	ZOETIS	$48,297,000	+4.8%	387,645	-4.5%	2.05%	+3.6%
CHD	Sell	CHURCH AND DWIGHT	$47,974,000	-15.7%	637,611	-18.1%	2.04%	-16.7%
GLW	Buy	CORNING	$47,661,000	-12.1%	1,671,129	+2.5%	2.03%	-13.1%
DIS	Buy	WALT DISNEY	$46,962,000	-0.3%	360,356	+6.9%	2.00%	-1.4%
LMT	Sell	LOCKHEED MARTIN	$46,247,000	+6.0%	118,565	-1.2%	1.97%	+4.8%
NSRGY	Sell	NESTLE SA ADR (SZ)	$45,188,000	+1.6%	416,865	-3.1%	1.92%	+0.4%
PG	Sell	PROCTER & GAMBLE	$45,101,000	+8.3%	362,604	-4.5%	1.92%	+7.0%
WMT	Sell	WALMART	$44,687,000	+7.2%	376,532	-0.2%	1.90%	+5.9%
AXP	Sell	AMERICAN EXPRESS	$44,337,000	-4.5%	374,852	-0.3%	1.88%	-5.6%
FMC	Buy	FMC CORP	$43,895,000	+15.0%	500,627	+8.8%	1.87%	+13.7%
BA	Buy	BOEING	$43,466,000	+12.8%	114,242	+7.9%	1.85%	+11.4%
SCHW	Buy	CHARLES SCHWAB CORP	$42,649,000	+7.1%	1,019,591	+2.9%	1.81%	+5.8%
JNJ	Buy	JOHNSON & JOHNSON	$42,067,000	-6.9%	325,142	+0.3%	1.79%	-8.0%
DE	Buy	DEERE AND CO	$41,267,000	+2.0%	244,645	+0.2%	1.75%	+0.8%
ADP	Sell	AUTOMATIC DATA PROCESSING	$41,116,000	-9.1%	254,715	-6.9%	1.75%	-10.2%
UNP	Sell	UNION PACIFIC	$40,509,000	-4.3%	250,086	-0.1%	1.72%	-5.4%
V	Sell	VISA	$39,462,000	-7.8%	229,417	-7.0%	1.68%	-9.0%
TTEK	Sell	TETRA TECH	$37,641,000	-3.0%	433,850	-12.1%	1.60%	-4.1%
AVY	Sell	AVERY DENNISON	$36,582,000	-2.4%	322,111	-0.5%	1.56%	-3.5%
GSK	Buy	GLAXOSMITHKLINE PLC ADR (GB)	$34,730,000	+12.3%	813,735	+5.3%	1.48%	+11.0%
ADBE	Buy	ADOBE	$34,448,000	-6.2%	124,700	+0.0%	1.46%	-7.3%
CL	Buy	COLGATE PALMOLIVE	$33,747,000	+5.8%	459,076	+3.2%	1.43%	+4.5%
DD	Buy	DUPONT DE NEMOURS	$32,443,000	+2020.5%	454,951	+2132.8%	1.38%	+1989.4%
CVX	Buy	CHEVRON	$32,030,000	-4.0%	270,070	+0.7%	1.36%	-5.2%
MSI	Sell	MOTOROLA SOLUTIONS	$31,971,000	-3.0%	187,610	-5.1%	1.36%	-4.1%
PYPL	Buy	PAYPAL HOLDINGS	$31,418,000	+2.0%	303,288	+12.7%	1.34%	+0.8%
WM	Sell	WASTE MANAGEMENT	$30,351,000	-5.2%	263,920	-4.9%	1.29%	-6.3%
JPM	Sell	JPMORGAN CHASE	$28,729,000	+4.8%	244,104	-0.5%	1.22%	+3.6%
NKE	Sell	NIKE	$28,575,000	-6.0%	304,245	-16.0%	1.21%	-7.1%
STT	New	STATE STREET	$28,261,000	–	477,465	–	1.20%	–
FSLR	Buy	FIRST SOLAR	$26,611,000	-1.4%	458,730	+11.6%	1.13%	-2.6%
VMW	Sell	VMWARE INC	$26,435,000	-13.5%	176,160	-3.6%	1.12%	-14.6%
BIP	Sell	BROOKFIELD INFRASTRUCTURE PARTunt	$23,701,000	+14.9%	477,749	-0.6%	1.01%	+13.5%
BX	New	BLACKSTONE GROUP	$21,714,000	–	444,585	–	0.92%	–
NVDA	Sell	NVIDIA CORP COM	$21,611,000	-11.9%	124,150	-16.9%	0.92%	-13.1%
PANW	Sell	PALO ALTO NETWORKS	$21,402,000	-8.7%	105,000	-8.7%	0.91%	-9.7%
COST	New	COSTCO WHOLESALE	$21,388,000	–	74,235	–	0.91%	–
SONY	New	SONY CORP (JP)	$20,104,000	–	340,000	–	0.85%	–
WPM	Buy	WHEATON PRECIOUS METALS (CA)	$19,365,000	+236.5%	738,000	+210.1%	0.82%	+231.9%
NOK	Sell	NOKIA (FI)	$18,056,000	-20.1%	3,568,320	-20.9%	0.77%	-21.1%
DBX	Sell	DROPBOX	$15,934,000	-27.7%	790,000	-10.2%	0.68%	-28.6%
MMM	Buy	3M COMPANY	$15,256,000	-4.0%	92,797	+1.2%	0.65%	-5.1%
MTSC	New	MTS SYSTEMS	$15,122,000	–	273,700	–	0.64%	–
BEP	Buy	BROOKFIELD RENEWABLE COMMON LPunt	$14,278,000	+27.4%	351,490	+8.5%	0.61%	+25.9%
SLB	New	SCHLUMBERGER LIMITED (NE)	$13,881,000	–	406,225	–	0.59%	–
EPD	Buy	ENTERPRISE PRODUCTS PARTNERS Lmlp	$11,361,000	-0.1%	397,516	+0.9%	0.48%	-1.2%
LUV	New	SOUTHWEST AIRLINES	$10,046,000	–	186,000	–	0.43%	–
PEP	Sell	PEPSICO	$7,392,000	+3.6%	53,915	-0.9%	0.31%	+2.3%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$6,716,000	-4.2%	74,735	-1.4%	0.28%	-5.6%
BPY	New	BROOKFIELD PROPERTY PARTNERS Lunt	$5,156,000	–	254,000	–	0.22%	–
NSC	Sell	NORFOLK SOUTHERN	$4,610,000	-11.1%	25,660	-1.4%	0.20%	-12.1%
OEC	Sell	ORION ENGINEERED CARBONS (LU)	$4,561,000	-71.7%	272,935	-63.8%	0.19%	-72.0%
XYL	Buy	XYLEM	$4,353,000	-3.2%	54,667	+1.7%	0.18%	-4.1%
VZ	Buy	VERIZON COMMUNICATIONS	$3,976,000	+11.7%	65,870	+5.8%	0.17%	+10.5%
MA	New	MASTERCARD INC CL A	$3,811,000	–	14,035	–	0.16%	–
FDX	Buy	FEDEX CORPORATION	$3,766,000	+40.6%	25,870	+58.6%	0.16%	+39.1%
BDX	Buy	BECTON DICKINSON & CO	$3,347,000	+7.4%	13,230	+7.0%	0.14%	+6.0%
KMB	Sell	KIMBERLY-CLARK	$3,253,000	+5.9%	22,900	-0.7%	0.14%	+4.5%
EMR	Sell	EMERSON ELECTRIC	$3,047,000	-42.9%	45,567	-43.0%	0.13%	-43.9%
NEE	Buy	NEXTERA ENERGY	$3,000,000	+13.8%	12,874	+0.0%	0.13%	+13.3%
KO	Buy	COCA-COLA	$2,605,000	+29.5%	47,855	+21.1%	0.11%	+27.6%
GOOG	Sell	ALPHABET INC CLASS C	$2,594,000	-7.3%	2,128	-17.8%	0.11%	-8.3%
IP	Sell	INT'L PAPER	$2,565,000	-7.0%	61,340	-3.6%	0.11%	-8.4%
MFC	Buy	MANULIFE FINL CORP ADR (CA)	$2,415,000	+5.0%	131,540	+4.0%	0.10%	+4.0%
MMC	Sell	MARSH & MCLENNAN	$2,373,000	-87.7%	23,716	-87.7%	0.10%	-87.8%
CP	Buy	CANADIAN PACIFIC RAILWAY LTD (	$2,385,000	-4.5%	10,720	+0.9%	0.10%	-5.6%
IFF	Sell	INTL FLAVORS& FRAGRANCES	$2,376,000	-94.1%	19,369	-93.1%	0.10%	-94.2%
BBT	Sell	BB&T	$2,296,000	+4.5%	43,025	-3.8%	0.10%	+4.3%
MCD	Buy	MCDONALD'S	$2,275,000	+403.3%	10,594	+386.4%	0.10%	+410.5%
AWK	Buy	AMERICAN WATER WORKS	$2,158,000	+7.1%	17,373	+0.1%	0.09%	+5.7%
ATI	Sell	ALLEGHENY TECH	$2,159,000	-30.4%	106,640	-13.4%	0.09%	-30.8%
HBAN	Buy	HUNTINGTON BANCSHARES	$2,093,000	+5.1%	146,680	+1.8%	0.09%	+3.5%
XOM	Sell	EXXON MOBIL	$1,847,000	-15.0%	26,154	-7.8%	0.08%	-16.1%
ABB	Sell	ABB LTD ADR (SZ)	$1,788,000	-9.7%	90,915	-8.0%	0.08%	-10.6%
SNA	Sell	SNAP-ON	$1,716,000	-17.3%	10,960	-12.5%	0.07%	-18.0%
CAT	Sell	CATERPILLAR	$1,309,000	-10.0%	10,360	-2.9%	0.06%	-11.1%
MDT	Buy	MEDTRONIC PLC (IL)	$1,187,000	+12.1%	10,925	+0.5%	0.05%	+8.7%
MAR	Buy	MARRIOTT INT'L	$1,108,000	-9.3%	8,910	+2.3%	0.05%	-11.3%
DOW	Sell	DOW INC	$1,086,000	-88.0%	22,789	-87.6%	0.05%	-88.2%
IBM	Buy	IBM	$986,000	+43.5%	6,780	+36.1%	0.04%	+40.0%
DAL	Buy	DELTA AIR LINES	$978,000	+8.5%	16,984	+6.9%	0.04%	+7.7%
NVS	Sell	NOVARTIS AG ADS (SZ)	$790,000	-8.9%	9,096	-4.2%	0.03%	-8.1%
GOOGL	Buy	ALPHABET INC CLASS A	$733,000	+12.9%	600	+0.2%	0.03%	+10.7%
LEG	Sell	LEGGETT & PLATT	$732,000	-3.8%	17,875	-9.8%	0.03%	-6.1%
UL	Sell	UNILEVER PLC ADR (GB)	$627,000	-5.1%	10,440	-2.2%	0.03%	-3.6%
TRP	Buy	TC ENERGY (CA)	$638,000	+8.9%	12,325	+4.2%	0.03%	+8.0%
CBS	Buy	CBS CORP	$622,000	-12.1%	15,405	+8.6%	0.03%	-13.3%
BMY	Sell	BRISTOL-MYERS SQUIBB	$481,000	-1.2%	9,490	-11.6%	0.02%	-4.8%
OLN	Sell	OLIN	$450,000	-48.9%	24,050	-40.1%	0.02%	-50.0%
RHHBY	Buy	ROCHE HOLDING AG (SZ)	$442,000	+5.5%	12,126	+1.7%	0.02%	+5.6%
CMI	Sell	CUMMINS INC	$390,000	-20.9%	2,400	-16.5%	0.02%	-19.0%
CTVA	Sell	CORTEVA	$296,000	-42.2%	10,559	-39.0%	0.01%	-40.9%
WAB	New	WABTEC	$252,000	–	3,500	–	0.01%	–
A	New	AGILENT TECHNOLOGIES	$244,000	–	3,180	–	0.01%	–
SBUX	New	STARBUCKS CORPORATION	$208,000	–	2,350	–	0.01%	–
LOW	New	LOWES COMPANIES INC	$205,000	–	1,867	–	0.01%	–
VET	Exit	VERMILION ENERGY (CA)	$0	–	-10,080	–	-0.01%	–
TKR	Exit	TIMKEN	$0	–	-33,600	–	-0.07%	–
F	Exit	FORD MOTOR	$0	–	-369,755	–	-0.16%	–
UNH	Exit	UNITEDHEALTH GROUP	$0	–	-75,173	–	-0.79%	–
LIN	Exit	LINDE PLC COM (GB)	$0	–	-95,609	–	-0.83%	–
WMGI	Exit	WRIGHT MEDICAL GROUP NV (NE)	$0	–	-698,000	–	-0.90%	–
HRS	Exit	HARRIS	$0	–	-259,368	–	-2.11%	–

Q2 2019

			Value		Shares		↓ Weighting
TDY	New	TELEDYNE TECHNOLOGIES	$68,850,000	–	251,395	–	2.96%	–
TMO	New	THERMO FISHER SCIENTIFIC	$60,948,000	–	207,532	–	2.62%	–
HON	New	HONEYWELL INT'L	$57,986,000	–	332,124	–	2.49%	–
SPGI	New	S & P GLOBAL	$57,480,000	–	252,338	–	2.47%	–
CHD	New	CHURCH AND DWIGHT	$56,903,000	–	778,852	–	2.45%	–
TXN	New	TEXAS INSTRUMENTS	$56,721,000	–	494,258	–	2.44%	–
MKC	New	MCCORMICK & CO	$55,660,000	–	359,073	–	2.39%	–
MSFT	New	MICROSOFT	$54,588,000	–	407,492	–	2.35%	–
CSCO	New	CISCO SYSTEMS	$54,295,000	–	992,047	–	2.34%	–
GLW	New	CORNING	$54,197,000	–	1,630,962	–	2.33%	–
AAPL	New	APPLE INC	$53,852,000	–	272,088	–	2.32%	–
HD	New	HOME DEPOT INC	$50,472,000	–	242,689	–	2.17%	–
HRS	New	HARRIS	$49,054,000	–	259,368	–	2.11%	–
DIS	New	WALT DISNEY	$47,089,000	–	337,216	–	2.02%	–
AXP	New	AMERICAN EXPRESS	$46,406,000	–	375,937	–	2.00%	–
ZTS	New	ZOETIS	$46,079,000	–	406,018	–	1.98%	–
ADP	New	AUTOMATIC DATA PROCESSING	$45,246,000	–	273,670	–	1.95%	–
JNJ	New	JOHNSON & JOHNSON	$45,169,000	–	324,302	–	1.94%	–
NSRGY	New	NESTLE SA ADR (SZ)	$44,485,000	–	430,220	–	1.91%	–
LMT	New	LOCKHEED MARTIN	$43,619,000	–	119,985	–	1.88%	–
V	New	VISA	$42,821,000	–	246,737	–	1.84%	–
UNP	New	UNION PACIFIC	$42,329,000	–	250,306	–	1.82%	–
WMT	New	WALMART	$41,690,000	–	377,322	–	1.79%	–
PG	New	PROCTER & GAMBLE	$41,653,000	–	379,869	–	1.79%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$40,525,000	–	279,311	–	1.74%	–
DE	New	DEERE AND CO	$40,447,000	–	244,085	–	1.74%	–
SCHW	New	CHARLES SCHWAB CORP	$39,827,000	–	990,976	–	1.71%	–
TTEK	New	TETRA TECH	$38,792,000	–	493,850	–	1.67%	–
BA	New	BOEING	$38,537,000	–	105,867	–	1.66%	–
FMC	New	FMC CORP	$38,155,000	–	459,972	–	1.64%	–
AVY	New	AVERY DENNISON	$37,465,000	–	323,866	–	1.61%	–
ADBE	New	ADOBE	$36,740,000	–	124,690	–	1.58%	–
CVX	New	CHEVRON	$33,380,000	–	268,240	–	1.44%	–
MSI	New	MOTOROLA SOLUTIONS	$32,948,000	–	197,610	–	1.42%	–
WM	New	WASTE MANAGEMENT	$32,012,000	–	277,475	–	1.38%	–
CL	New	COLGATE PALMOLIVE	$31,895,000	–	445,020	–	1.37%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$30,926,000	–	772,765	–	1.33%	–
PYPL	New	PAYPAL HOLDINGS	$30,790,000	–	269,005	–	1.32%	–
VMW	New	VMWARE INC	$30,569,000	–	182,820	–	1.32%	–
NKE	New	NIKE	$30,390,000	–	362,007	–	1.31%	–
ACN	New	ACCENTURE LTD (IL)	$28,752,000	–	155,609	–	1.24%	–
VRTX	New	VERTEX PHARMACEUTICALS	$27,507,000	–	150,000	–	1.18%	–
JPM	New	JPMORGAN CHASE	$27,418,000	–	245,239	–	1.18%	–
FSLR	New	FIRST SOLAR	$26,994,000	–	411,000	–	1.16%	–
NVDA	New	NVIDIA CORP COM	$24,542,000	–	149,435	–	1.06%	–
GRMN	New	GARMIN LTD (SZ)	$23,940,000	–	300,000	–	1.03%	–
PANW	New	PALO ALTO NETWORKS	$23,432,000	–	115,000	–	1.01%	–
NOK	New	NOKIA (FI)	$22,600,000	–	4,510,985	–	0.97%	–
JKHY	New	JACK HENRY ASSOC	$22,097,000	–	165,000	–	0.95%	–
DBX	New	DROPBOX	$22,044,000	–	880,000	–	0.95%	–
WMGI	New	WRIGHT MEDICAL GROUP NV (NE)	$20,814,000	–	698,000	–	0.90%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$20,633,000	–	480,499	–	0.89%	–
MMC	New	MARSH & MCLENNAN	$19,303,000	–	193,516	–	0.83%	–
LIN	New	LINDE PLC COM (GB)	$19,198,000	–	95,609	–	0.83%	–
UNH	New	UNITEDHEALTH GROUP	$18,343,000	–	75,173	–	0.79%	–
OEC	New	ORION ENGINEERED CARBONS (LU)	$16,132,000	–	753,500	–	0.69%	–
MMM	New	3M COMPANY	$15,889,000	–	91,662	–	0.68%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS Lmlp	$11,376,000	–	394,026	–	0.49%	–
BEP	New	BROOKFIELD RENEWABLE COMMON LPunt	$11,209,000	–	324,045	–	0.48%	–
DOW	New	DOW INC	$9,041,000	–	183,341	–	0.39%	–
PEP	New	PEPSICO	$7,135,000	–	54,410	–	0.31%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$7,012,000	–	75,825	–	0.30%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$5,755,000	–	238,000	–	0.25%	–
EMR	New	EMERSON ELECTRIC	$5,338,000	–	80,001	–	0.23%	–
NSC	New	NORFOLK SOUTHERN	$5,188,000	–	26,025	–	0.22%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$4,867,000	–	200,350	–	0.21%	–
XYL	New	XYLEM	$4,498,000	–	53,775	–	0.19%	–
F	New	FORD MOTOR	$3,783,000	–	369,755	–	0.16%	–
VZ	New	VERIZON COMMUNICATIONS	$3,558,000	–	62,280	–	0.15%	–
BDX	New	BECTON DICKINSON & CO	$3,117,000	–	12,370	–	0.13%	–
ATI	New	ALLEGHENY TECH	$3,103,000	–	123,140	–	0.13%	–
KMB	New	KIMBERLY-CLARK	$3,072,000	–	23,050	–	0.13%	–
PFE	New	PFIZER	$3,035,000	–	70,052	–	0.13%	–
GOOG	New	ALPHABET INC CLASS C	$2,797,000	–	2,588	–	0.12%	–
IP	New	INT'L PAPER	$2,757,000	–	63,640	–	0.12%	–
FDX	New	FEDEX CORPORATION	$2,678,000	–	16,310	–	0.12%	–
WELL	New	WELLTOWER INC	$2,632,000	–	32,280	–	0.11%	–
NEE	New	NEXTERA ENERGY	$2,637,000	–	12,873	–	0.11%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$2,498,000	–	10,620	–	0.11%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$2,300,000	–	126,540	–	0.10%	–
BBT	New	BB&T	$2,197,000	–	44,710	–	0.09%	–
XOM	New	EXXON MOBIL	$2,173,000	–	28,359	–	0.09%	–
CCI	New	CROWN CASTLE INTERNATIONAL COR	$2,123,000	–	16,290	–	0.09%	–
SNA	New	SNAP-ON	$2,074,000	–	12,520	–	0.09%	–
AWK	New	AMERICAN WATER WORKS	$2,014,000	–	17,358	–	0.09%	–
KO	New	COCA-COLA	$2,012,000	–	39,520	–	0.09%	–
HBAN	New	HUNTINGTON BANCSHARES	$1,991,000	–	144,080	–	0.09%	–
ABB	New	ABB LTD ADR (SZ)	$1,979,000	–	98,815	–	0.08%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$1,909,000	–	16,510	–	0.08%	–
PH	New	PARKER-HANNIFIN	$1,873,000	–	11,015	–	0.08%	–
TKR	New	TIMKEN	$1,725,000	–	33,600	–	0.07%	–
WY	New	WEYERHAEUSER	$1,659,000	–	62,980	–	0.07%	–
T	New	AT&T	$1,586,000	–	47,316	–	0.07%	–
PLD	New	PROLOGIS	$1,558,000	–	19,451	–	0.07%	–
DD	New	DUPONT DE NEMOURS	$1,530,000	–	20,376	–	0.07%	–
CAT	New	CATERPILLAR	$1,454,000	–	10,670	–	0.06%	–
VMC	New	VULCAN MATERIALS	$1,362,000	–	9,920	–	0.06%	–
MAR	New	MARRIOTT INT'L	$1,222,000	–	8,710	–	0.05%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$1,219,000	–	22,437	–	0.05%	–
EFX	New	EQUIFAX	$1,192,000	–	8,817	–	0.05%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$1,153,000	–	14,527	–	0.05%	–
IR	New	INGERSOLL-RAND PLC (IL)	$1,115,000	–	8,800	–	0.05%	–
MDT	New	MEDTRONIC PLC (IL)	$1,059,000	–	10,870	–	0.05%	–
UTX	New	UNITED TECHNOLOGIES	$1,044,000	–	8,021	–	0.04%	–
DUK	New	DUKE ENERGY CORP NEW	$930,000	–	10,544	–	0.04%	–
DAL	New	DELTA AIR LINES	$901,000	–	15,884	–	0.04%	–
OLN	New	OLIN	$880,000	–	40,175	–	0.04%	–
NVS	New	NOVARTIS AG ADS (SZ)	$867,000	–	9,496	–	0.04%	–
LEG	New	LEGGETT & PLATT	$761,000	–	19,825	–	0.03%	–
ROK	New	ROCKWELL AUTOMATION	$729,000	–	4,450	–	0.03%	–
CBS	New	CBS CORP	$708,000	–	14,180	–	0.03%	–
IBM	New	IBM	$687,000	–	4,980	–	0.03%	–
UL	New	UNILEVER PLC ADR (GB)	$661,000	–	10,670	–	0.03%	–
GOOGL	New	ALPHABET INC CLASS A	$649,000	–	599	–	0.03%	–
GE	New	GENERAL ELECTRIC	$603,000	–	57,442	–	0.03%	–
TRP	New	TC ENERGY (CA)	$586,000	–	11,825	–	0.02%	–
FNB	New	FNB CORP	$549,000	–	46,656	–	0.02%	–
ORCL	New	ORACLE CORP COM	$512,000	–	8,990	–	0.02%	–
CTVA	New	CORTEVA	$512,000	–	17,323	–	0.02%	–
CB	New	CHUBB LTD (SZ)	$516,000	–	3,500	–	0.02%	–
BMY	New	BRISTOL-MYERS SQUIBB	$487,000	–	10,740	–	0.02%	–
CMI	New	CUMMINS INC	$493,000	–	2,875	–	0.02%	–
MCD	New	MCDONALD'S	$452,000	–	2,178	–	0.02%	–
RHHBY	New	ROCHE HOLDING AG (SZ)	$419,000	–	11,926	–	0.02%	–
ABT	New	ABBOTT LABORATORIES	$367,000	–	4,359	–	0.02%	–
MRK	New	MERCK & CO INC NEW	$365,000	–	4,349	–	0.02%	–
INTC	New	INTEL CORP	$325,000	–	6,790	–	0.01%	–
PNC	New	PNC FINL SVCS GROUP COM	$299,000	–	2,175	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$297,000	–	5,510	–	0.01%	–
C	New	CITIGROUP INC	$289,000	–	4,120	–	0.01%	–
RDSA	New	ROYAL DUTCH SHELL PLC ADR A (N	$244,000	–	3,744	–	0.01%	–
ITW	New	ILLINOIS TOOL WORKS	$235,000	–	1,560	–	0.01%	–
VET	New	VERMILION ENERGY (CA)	$219,000	–	10,080	–	0.01%	–
AON	New	AON PLC	$214,000	–	1,110	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
LNC	Exit	LINCOLN NATIONAL	$0	–	-2,975	–	-0.01%	–
COF	Exit	CAPITAL ONE FINANCIAL CP	$0	–	-2,174	–	-0.01%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-2,805	–	-0.01%	–
PNR	Exit	PENTAIR PLC (IL)	$0	–	-5,250	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-5,510	–	-0.01%	–
DNB	Exit	DUN & BRADSTREET	$0	–	-1,620	–	-0.01%	–
STT	Exit	STATE STREET	$0	–	-3,045	–	-0.01%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC ADR A (N	$0	–	-3,944	–	-0.01%	–
JEF	Exit	JEFFERIES FINANCIAL GROUP	$0	–	-12,000	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-4,120	–	-0.01%	–
Y	Exit	ALLEGHANY CORP	$0	–	-461	–	-0.01%	–
PNC	Exit	PNC FINL SVCS GROUP COM	$0	–	-2,175	–	-0.01%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-4,349	–	-0.01%	–
FLR	Exit	FLUOR	$0	–	-5,575	–	-0.01%	–
MET	Exit	METLIFE	$0	–	-6,650	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-6,790	–	-0.01%	–
CB	Exit	CHUBB LTD (SZ)	$0	–	-2,765	–	-0.02%	–
CMI	Exit	CUMMINS INC	$0	–	-2,875	–	-0.02%	–
BWA	Exit	BORG WARNER INC	$0	–	-11,080	–	-0.02%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-9,540	–	-0.02%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-12,840	–	-0.02%	–
TRP	Exit	TRANSCANADA CORP ADR (CA)	$0	–	-13,350	–	-0.02%	–
FNB	Exit	FNB CORP	$0	–	-46,656	–	-0.03%	–
WPM	Exit	WHEATON PRECIOUS METALS (CA)	$0	–	-35,000	–	-0.03%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-6,375	–	-0.03%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-11,805	–	-0.03%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-12,070	–	-0.03%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-10,740	–	-0.03%	–
GOOGL	Exit	ALPHABET INC CLASS A	$0	–	-548	–	-0.03%	–
VOD	Exit	VODAFONE GROUP (GB)	$0	–	-34,825	–	-0.03%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-67,650	–	-0.03%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-4,560	–	-0.04%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-4,450	–	-0.04%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-10,854	–	-0.04%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-16,618	–	-0.04%	–
NVS	Exit	NOVARTIS AG ADS (SZ)	$0	–	-10,450	–	-0.04%	–
MAR	Exit	MARRIOTT INT'L	$0	–	-7,310	–	-0.04%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-7,160	–	-0.04%	–
IR	Exit	INGERSOLL-RAND PLC (IL)	$0	–	-10,600	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-14,527	–	-0.05%	–
EFX	Exit	EQUIFAX	$0	–	-9,447	–	-0.05%	–
GM	Exit	GENERAL MOTORS	$0	–	-38,140	–	-0.06%	–
PLD	Exit	PROLOGIS	$0	–	-19,306	–	-0.06%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-22,724	–	-0.06%	–
CAT	Exit	CATERPILLAR	$0	–	-10,185	–	-0.07%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-9,658	–	-0.07%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-19,310	–	-0.07%	–
OLN	Exit	OLIN	$0	–	-63,675	–	-0.07%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-7,790	–	-0.07%	–
BBT	Exit	BB&T	$0	–	-38,462	–	-0.08%	–
WELL	Exit	WELLTOWER INC	$0	–	-30,445	–	-0.09%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-11,115	–	-0.09%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-19,219	–	-0.09%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-50,580	–	-0.10%	–
WY	Exit	WEYERHAEUSER	$0	–	-70,091	–	-0.10%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-19,810	–	-0.10%	–
T	Exit	AT&T	$0	–	-75,554	–	-0.11%	–
HBAN	Exit	HUNTINGTON BANCSHARES	$0	–	-174,180	–	-0.11%	–
SNA	Exit	SNAP-ON	$0	–	-14,760	–	-0.12%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-24,662	–	-0.12%	–
XYL	Exit	XYLEM	$0	–	-37,895	–	-0.13%	–
PFE	Exit	PFIZER	$0	–	-71,845	–	-0.14%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-146,665	–	-0.15%	–
XOM	Exit	EXXON MOBIL	$0	–	-41,781	–	-0.16%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-3,100	–	-0.16%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-46,905	–	-0.17%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-200,350	–	-0.21%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-79,608	–	-0.32%	–
BEP	Exit	BROOKFIELD RENEWABLE COMMON LPunt	$0	–	-322,545	–	-0.43%	–
PEP	Exit	PEPSICO	$0	–	-96,512	–	-0.48%	–
BX	Exit	BLACKSTONE GROUP LPunt	$0	–	-284,250	–	-0.48%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS Lmlp	$0	–	-395,596	–	-0.50%	–
ADBE	Exit	ADOBE	$0	–	-55,000	–	-0.65%	–
SEDG	Exit	SOLAREDGE TECHNOLOGIES	$0	–	-400,000	–	-0.66%	–
AGN	Exit	ALLERGAN PLC (IL)	$0	–	-80,420	–	-0.67%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-100,000	–	-0.69%	–
MLNX	Exit	MELLANOX TECHNOLOGIES (IS)	$0	–	-220,000	–	-0.71%	–
MDP	Exit	MEREDITH CORP	$0	–	-332,000	–	-0.75%	–
STZ	Exit	CONSTELLATION BRANDS	$0	–	-82,100	–	-0.78%	–
GRMN	Exit	GARMIN LTD (SZ)	$0	–	-255,000	–	-0.79%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-80,000	–	-0.79%	–
KO	Exit	COCA-COLA	$0	–	-389,820	–	-0.79%	–
LUV	Exit	SOUTHWEST AIRLINES	$0	–	-288,825	–	-0.79%	–
RYAM	Exit	RAYONIER ADVANCED MATERIALS	$0	–	-1,000,000	–	-0.81%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-225,285	–	-0.82%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-479,149	–	-0.84%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-224,460	–	-0.87%	–
ACN	Exit	ACCENTURE LTD (IL)	$0	–	-120,000	–	-0.90%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-1,181,220	–	-0.93%	–
IP	Exit	INT'L PAPER	$0	–	-445,842	–	-0.96%	–
VET	Exit	VERMILION ENERGY (CA)	$0	–	-675,490	–	-0.98%	–
COO	Exit	THE COOPER COMPANIES	$0	–	-85,230	–	-1.04%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-212,329	–	-1.06%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-314,872	–	-1.06%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-380,319	–	-1.12%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-187,393	–	-1.15%	–
TKR	Exit	TIMKEN	$0	–	-545,425	–	-1.20%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-104,431	–	-1.20%	–
VMW	Exit	VMWARE INC	$0	–	-175,000	–	-1.20%	–
NOK	Exit	NOKIA (FI)	$0	–	-5,007,185	–	-1.23%	–
IBM	Exit	IBM	$0	–	-196,173	–	-1.31%	–
OEC	Exit	ORION ENGINEERED CARBONS (LU)	$0	–	-927,130	–	-1.31%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-333,656	–	-1.38%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-165,000	–	-1.40%	–
JKHY	Exit	JACK HENRY ASSOC	$0	–	-200,000	–	-1.41%	–
DIS	Exit	WALT DISNEY	$0	–	-283,408	–	-1.46%	–
CVX	Exit	CHEVRON	$0	–	-275,210	–	-1.48%	–
BA	Exit	BOEING	$0	–	-91,267	–	-1.49%	–
DE	Exit	DEERE AND CO	$0	–	-226,790	–	-1.50%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-323,342	–	-1.52%	–
AVY	Exit	AVERY DENNISON	$0	–	-320,461	–	-1.53%	–
ZTS	Exit	ZOETIS	$0	–	-385,897	–	-1.56%	–
FMC	Exit	FMC CORP	$0	–	-412,915	–	-1.58%	–
DWDP	Exit	DOWDUPONT	$0	–	-569,254	–	-1.61%	–
HPQ	Exit	HP INC	$0	–	-1,458,160	–	-1.66%	–
MSFT	Exit	MICROSOFT	$0	–	-335,843	–	-1.69%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-160,614	–	-1.70%	–
UNP	Exit	UNION PACIFIC	$0	–	-239,106	–	-1.71%	–
V	Exit	VISA	$0	–	-260,212	–	-1.72%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-113,649	–	-1.73%	–
TTEK	Exit	TETRA TECH	$0	–	-579,870	–	-1.74%	–
ATI	Exit	ALLEGHENY TECH	$0	–	-1,383,435	–	-1.80%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-271,318	–	-1.80%	–
HRS	Exit	HARRIS	$0	–	-246,365	–	-1.84%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-309,588	–	-1.88%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-911,439	–	-1.95%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-910,115	–	-1.97%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-774,366	–	-2.02%	–
SPGI	Exit	S & P GLOBAL	$0	–	-235,588	–	-2.03%	–
HD	Exit	HOME DEPOT INC	$0	–	-227,302	–	-2.07%	–
MKC	Exit	MCCORMICK & CO	$0	–	-372,328	–	-2.16%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-203,359	–	-2.18%	–
HON	Exit	HONEYWELL INT'L	$0	–	-301,313	–	-2.21%	–
MMM	Exit	3M COMPANY	$0	–	-239,208	–	-2.22%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-470,813	–	-2.22%	–
GLW	Exit	CORNING	$0	–	-1,571,419	–	-2.44%	–
AAPL	Exit	APPLE INC	$0	–	-254,505	–	-2.53%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-252,363	–	-2.74%	–

Q3 2018

			Value		Shares		↓ Weighting
TDY	Sell	TELEDYNE TECHNOLOGIES	$62,253,000	+22.5%	252,363	-1.1%	2.74%	+15.5%
AAPL	Sell	APPLE INC	$57,452,000	+17.3%	254,505	-3.8%	2.53%	+10.5%
GLW	Sell	CORNING	$55,471,000	+26.8%	1,571,419	-1.2%	2.44%	+19.5%
TXN	Sell	TEXAS INSTRUMENTS	$50,514,000	-3.3%	470,813	-0.7%	2.22%	-8.9%
MMM	Buy	3M COMPANY	$50,403,000	+7.6%	239,208	+0.4%	2.22%	+1.3%
HON	Sell	HONEYWELL INT'L	$50,138,000	+10.5%	301,313	-4.3%	2.21%	+4.2%
TMO	Sell	THERMO FISHER SCIENTIFIC	$49,636,000	+17.4%	203,359	-0.4%	2.18%	+10.6%
MKC	Sell	MCCORMICK & CO	$49,054,000	+12.4%	372,328	-0.9%	2.16%	+5.9%
HD	Sell	HOME DEPOT INC	$47,086,000	+5.1%	227,302	-1.0%	2.07%	-1.0%
SPGI	Sell	S & P GLOBAL	$46,032,000	-8.7%	235,588	-4.8%	2.03%	-14.0%
CHD	Buy	CHURCH AND DWIGHT	$45,974,000	+11.7%	774,366	+0.0%	2.02%	+5.3%
SCHW	Sell	CHARLES SCHWAB CORP	$44,732,000	-4.1%	910,115	-0.3%	1.97%	-9.6%
CSCO	Buy	CISCO SYSTEMS	$44,342,000	+15.4%	911,439	+2.1%	1.95%	+8.7%
JNJ	Buy	JOHNSON & JOHNSON	$42,776,000	+14.6%	309,588	+0.6%	1.88%	+7.9%
HRS	Sell	HARRIS	$41,687,000	+6.2%	246,365	-9.3%	1.84%	+0.1%
ATI	Sell	ALLEGHENY TECH	$40,881,000	+11.9%	1,383,435	-4.9%	1.80%	+5.4%
ADP	Sell	AUTOMATIC DATA PROCESSING	$40,877,000	+5.2%	271,318	-6.4%	1.80%	-0.9%
TTEK	Sell	TETRA TECH	$39,605,000	+15.8%	579,870	-0.8%	1.74%	+9.1%
LMT	Sell	LOCKHEED MARTIN	$39,318,000	+16.5%	113,649	-0.5%	1.73%	+9.8%
V	Sell	VISA	$39,055,000	-3.7%	260,212	-15.0%	1.72%	-9.2%
UNP	Buy	UNION PACIFIC	$38,934,000	+15.2%	239,106	+0.3%	1.71%	+8.5%
FDX	Buy	FEDEX CORPORATION	$38,674,000	+13.5%	160,614	+7.0%	1.70%	+6.9%
MSFT	Buy	MICROSOFT	$38,410,000	+419.8%	335,843	+348.2%	1.69%	+390.1%
HPQ	Sell	HP INC	$37,577,000	+13.5%	1,458,160	-0.1%	1.66%	+7.0%
DWDP	Buy	DOWDUPONT	$36,609,000	-1.8%	569,254	+0.6%	1.61%	-7.5%
FMC	Sell	FMC CORP	$35,998,000	-10.5%	412,915	-8.4%	1.58%	-15.6%
ZTS	Buy	ZOETIS	$35,333,000	+8.3%	385,897	+0.8%	1.56%	+2.1%
AVY	Sell	AVERY DENNISON	$34,722,000	-1.0%	320,461	-6.7%	1.53%	-6.7%
AXP	Buy	AMERICAN EXPRESS	$34,433,000	+10.2%	323,342	+1.4%	1.52%	+3.9%
DE	Buy	DEERE AND CO	$34,093,000	+8.3%	226,790	+0.7%	1.50%	+2.0%
BA	Buy	BOEING	$33,942,000	+15.7%	91,267	+4.4%	1.49%	+9.1%
CVX	Buy	CHEVRON	$33,653,000	-0.5%	275,210	+2.9%	1.48%	-6.3%
DIS	Buy	WALT DISNEY	$33,142,000	+12.1%	283,408	+0.5%	1.46%	+5.6%
JKHY	Sell	JACK HENRY ASSOC	$32,016,000	+14.2%	200,000	-7.0%	1.41%	+7.6%
WMT	Sell	WAL-MART STORES INC	$31,334,000	+7.2%	333,656	-2.2%	1.38%	+1.0%
OEC	Sell	ORION ENGINEERED CARBONS (LU)	$29,761,000	+3.6%	927,130	-0.4%	1.31%	-2.4%
IBM	Buy	IBM	$29,663,000	+30.8%	196,173	+20.9%	1.31%	+23.2%
NOK	Buy	NOKIA (FI)	$27,940,000	-2.6%	5,007,185	+0.4%	1.23%	-8.2%
VMW	Sell	VMWARE INC	$27,310,000	-7.1%	175,000	-12.5%	1.20%	-12.5%
BDX	Buy	BECTON DICKINSON & CO	$27,256,000	+1080.4%	104,431	+983.3%	1.20%	+1011.1%
TKR	Buy	TIMKEN	$27,189,000	+50.6%	545,425	+31.5%	1.20%	+41.8%
IFF	Buy	INTL FLAVORS& FRAGRANCES	$26,070,000	+48.6%	187,393	+32.4%	1.15%	+40.0%
CL	Sell	COLGATE PALMOLIVE	$25,462,000	+3.0%	380,319	-0.3%	1.12%	-2.9%
EMR	Buy	EMERSON ELECTRIC	$24,113,000	+374.6%	314,872	+328.4%	1.06%	+348.1%
JPM	Buy	JPMORGAN CHASE	$23,959,000	+925.6%	212,329	+847.3%	1.06%	+867.9%
VET	Sell	VERMILION ENERGY (CA)	$22,251,000	-8.7%	675,490	-0.2%	0.98%	-14.0%
IP	Sell	INT'L PAPER	$21,913,000	-32.4%	445,842	-28.4%	0.96%	-36.3%
MFC	Buy	MANULIFE FINL CORP ADR (CA)	$21,120,000	+20.2%	1,181,220	+20.8%	0.93%	+13.3%
ACN	New	ACCENTURE LTD (IL)	$20,424,000	–	120,000	–	0.90%	–
PYPL	Buy	PAYPAL HOLDINGS	$19,717,000	+54.6%	224,460	+46.5%	0.87%	+45.6%
BIP	Sell	BROOKFIELD INFRASTRUCTURE PARTunt	$19,108,000	+3.0%	479,149	-0.8%	0.84%	-2.9%
MMC	Sell	MARSH & MCLENNAN	$18,636,000	-9.1%	225,285	-10.0%	0.82%	-14.3%
RYAM	Buy	RAYONIER ADVANCED MATERIALS	$18,430,000	+33.1%	1,000,000	+23.5%	0.81%	+25.3%
LUV	New	SOUTHWEST AIRLINES	$18,037,000	–	288,825	–	0.79%	–
KO	Buy	COCA-COLA	$18,006,000	+137.5%	389,820	+125.5%	0.79%	+124.0%
PANW	New	PALO ALTO NETWORKS	$18,021,000	–	80,000	–	0.79%	–
GRMN	New	GARMIN LTD (SZ)	$17,863,000	–	255,000	–	0.79%	–
STZ	New	CONSTELLATION BRANDS	$17,702,000	–	82,100	–	0.78%	–
MDP	Buy	MEREDITH CORP	$16,949,000	+10.8%	332,000	+10.7%	0.75%	+4.3%
MLNX	Sell	MELLANOX TECHNOLOGIES (IS)	$16,159,000	-16.7%	220,000	-4.3%	0.71%	-21.5%
IPGP	Sell	IPG PHOTONICS	$15,607,000	-49.5%	100,000	-28.6%	0.69%	-52.4%
AGN	New	ALLERGAN PLC (IL)	$15,318,000	–	80,420	–	0.67%	–
SEDG	Sell	SOLAREDGE TECHNOLOGIES	$15,060,000	-30.1%	400,000	-11.1%	0.66%	-34.1%
ADBE	New	ADOBE	$14,847,000	–	55,000	–	0.65%	–
EPD	Sell	ENTERPRISE PRODUCTS PARTNERS Lmlp	$11,365,000	+3.5%	395,596	-0.3%	0.50%	-2.5%
BX	Buy	BLACKSTONE GROUP LPunt	$10,824,000	+19.0%	284,250	+0.5%	0.48%	+12.2%
PEP	Sell	PEPSICO	$10,790,000	-69.1%	96,512	-69.9%	0.48%	-70.9%
BEP	Sell	BROOKFIELD RENEWABLE COMMON LPunt	$9,754,000	+0.3%	322,545	-0.3%	0.43%	-5.5%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$7,149,000	-73.6%	79,608	-76.0%	0.32%	-75.2%
PG	Sell	PROCTER & GAMBLE	$3,904,000	+0.1%	46,905	-6.2%	0.17%	-5.5%
GOOG	Sell	ALPHABET INC CLASS C	$3,700,000	+3.5%	3,100	-3.3%	0.16%	-2.4%
XOM	Sell	EXXON MOBIL	$3,552,000	-7.8%	41,781	-10.3%	0.16%	-13.3%
ABB	Sell	ABB LTD ADR (SZ)	$3,466,000	-81.5%	146,665	-82.9%	0.15%	-82.5%
PFE	Sell	PFIZER	$3,166,000	+20.1%	71,845	-1.1%	0.14%	+13.0%
XYL	Buy	XYLEM	$3,027,000	+18.7%	37,895	+0.1%	0.13%	+11.8%
KMB	Sell	KIMBERLY-CLARK	$2,803,000	+3.3%	24,662	-4.2%	0.12%	-3.1%
SNA	Sell	SNAP-ON	$2,710,000	+8.8%	14,760	-4.7%	0.12%	+2.6%
HBAN	Sell	HUNTINGTON BANCSHARES	$2,599,000	-2.0%	174,180	-3.0%	0.11%	-8.1%
T	Sell	AT&T	$2,537,000	-2.4%	75,554	-6.7%	0.11%	-7.4%
CHKP	Sell	CHECK POINT SOFTWARE TECH (IS)	$2,331,000	+14.7%	19,810	-4.8%	0.10%	+8.4%
WY	Sell	WEYERHAEUSER	$2,262,000	-22.8%	70,091	-12.8%	0.10%	-27.0%
LEG	Sell	LEGGETT & PLATT	$2,215,000	-20.6%	50,580	-19.0%	0.10%	-24.6%
VMC	Buy	VULCAN MATERIALS	$2,137,000	-13.7%	19,219	+0.2%	0.09%	-19.0%
WELL	Buy	WELLTOWER INC	$1,958,000	+4.8%	30,445	+2.2%	0.09%	-1.1%
BBT	Sell	BB&T	$1,867,000	-6.3%	38,462	-2.6%	0.08%	-11.8%
CP	Sell	CANADIAN PACIFIC RAILWAY LTD (	$1,651,000	+15.1%	7,790	-0.6%	0.07%	+9.0%
OLN	Sell	OLIN	$1,635,000	-15.2%	63,675	-5.2%	0.07%	-20.0%
NSRGY	Sell	NESTLE SA ADR (SZ)	$1,607,000	+7.4%	19,310	-0.1%	0.07%	+1.4%
NEE	Buy	NEXTERA ENERGY	$1,619,000	+19.4%	9,658	+19.0%	0.07%	+12.7%
CAT	Sell	CATERPILLAR	$1,553,000	+8.3%	10,185	-3.6%	0.07%	+1.5%
BNS	Sell	BANK OF NOVA SCOTIA ADR (CA)	$1,355,000	+0.6%	22,724	-3.5%	0.06%	-4.8%
PLD	Buy	PROLOGIS	$1,309,000	+49.3%	19,306	+44.5%	0.06%	+41.5%
GM	Sell	GENERAL MOTORS	$1,284,000	-53.0%	38,140	-45.0%	0.06%	-55.5%
RY	Sell	ROYAL BANK CANADA MONTREAL (CA	$1,165,000	+2.2%	14,527	-4.1%	0.05%	-3.8%
IR	Sell	INGERSOLL-RAND PLC (IL)	$1,084,000	-11.1%	10,600	-22.1%	0.05%	-15.8%
UTX	Sell	UNITED TECHNOLOGIES	$1,001,000	+2.4%	7,160	-8.4%	0.04%	-4.3%
MAR	Sell	MARRIOTT INT'L	$965,000	-93.6%	7,310	-93.9%	0.04%	-94.1%
KHC	Sell	KRAFT HEINZ CO	$916,000	-26.1%	16,618	-15.8%	0.04%	-31.0%
NVS	New	NOVARTIS AG ADS (SZ)	$900,000	–	10,450	–	0.04%	–
DUK	Sell	DUKE ENERGY CORP NEW	$869,000	-19.2%	10,854	-20.2%	0.04%	-24.0%
NSC	Sell	NORFOLK SOUTHERN	$823,000	+17.7%	4,560	-1.6%	0.04%	+9.1%
GE	Sell	GENERAL ELECTRIC	$764,000	-36.4%	67,650	-23.4%	0.03%	-39.3%
VOD	Sell	VODAFONE GROUP (GB)	$756,000	-37.6%	34,825	-30.1%	0.03%	-42.1%
BMY	Sell	BRISTOL-MYERS SQUIBB	$667,000	+11.5%	10,740	-0.6%	0.03%	+3.6%
UL	Sell	UNILEVER PLC ADR (GB)	$663,000	-5.6%	12,070	-5.0%	0.03%	-12.1%
WPM	Sell	WHEATON PRECIOUS METALS (CA)	$612,000	-96.4%	35,000	-95.5%	0.03%	-96.6%
GSK	Sell	GLAXOSMITHKLINE PLC ADR (GB)	$516,000	-5.0%	12,840	-4.7%	0.02%	-8.0%
BWA	Sell	BORG WARNER INC	$474,000	-1.9%	11,080	-0.9%	0.02%	-8.7%
FLR	Sell	FLUOR	$324,000	+9.5%	5,575	-8.2%	0.01%	0.0%
STT	Sell	STATE STREET	$255,000	-98.7%	3,045	-98.6%	0.01%	-98.8%
DNB	Sell	DUN & BRADSTREET	$231,000	-13.2%	1,620	-25.2%	0.01%	-16.7%
COF	New	CAPITAL ONE FINANCIAL CP	$206,000	–	2,174	–	0.01%	–
ABT	New	ABBOTT LABORATORIES	$206,000	–	2,805	–	0.01%	–
LNC	New	LINCOLN NATIONAL	$201,000	–	2,975	–	0.01%	–
INGR	Exit	INGREDION	$0	–	-1,960	–	-0.01%	–
GLNCY	Exit	GLENCORE PLC ADR (SZ)	$0	–	-1,458,000	–	-0.65%	–
KMT	Exit	KENNAMETAL	$0	–	-452,800	–	-0.76%	–
BAYRY	Exit	BAYER ADR (DE)	$0	–	-603,470	–	-0.78%	–
COT	Exit	COTT CORP (CA)	$0	–	-1,255,000	–	-0.97%	–
PUK	Exit	PRUDENTIAL PLC (GB)	$0	–	-465,000	–	-0.99%	–
TSE	Exit	TRINSEO S.A. (LU)	$0	–	-330,000	–	-1.09%	–

Q2 2018

			Value		Shares		↓ Weighting
TXN	New	TEXAS INSTRUMENTS	$52,256,000	–	473,981	–	2.44%	–
TDY	New	TELEDYNE TECHNOLOGIES	$50,799,000	–	255,193	–	2.37%	–
SPGI	New	S & P GLOBAL	$50,445,000	–	247,413	–	2.36%	–
AAPL	New	APPLE INC	$48,978,000	–	264,590	–	2.29%	–
MMM	New	3M COMPANY	$46,859,000	–	238,203	–	2.19%	–
SCHW	New	CHARLES SCHWAB CORP	$46,640,000	–	912,715	–	2.18%	–
HON	New	HONEYWELL INT'L	$45,356,000	–	314,860	–	2.12%	–
HD	New	HOME DEPOT INC	$44,807,000	–	229,662	–	2.09%	–
GLW	New	CORNING	$43,739,000	–	1,589,917	–	2.04%	–
MKC	New	MCCORMICK & CO	$43,630,000	–	375,830	–	2.04%	–
TMO	New	THERMO FISHER SCIENTIFIC	$42,284,000	–	204,132	–	1.98%	–
CHD	New	CHURCH AND DWIGHT	$41,158,000	–	774,221	–	1.92%	–
V	New	VISA	$40,550,000	–	306,152	–	1.90%	–
FMC	New	FMC CORP	$40,201,000	–	450,635	–	1.88%	–
HRS	New	HARRIS	$39,248,000	–	271,540	–	1.83%	–
ADP	New	AUTOMATIC DATA PROCESSING	$38,868,000	–	289,756	–	1.82%	–
CSCO	New	CISCO SYSTEMS	$38,411,000	–	892,665	–	1.80%	–
JNJ	New	JOHNSON & JOHNSON	$37,340,000	–	307,728	–	1.74%	–
DWDP	New	DOWDUPONT	$37,296,000	–	565,782	–	1.74%	–
ATI	New	ALLEGHENY TECH	$36,543,000	–	1,454,735	–	1.71%	–
AVY	New	AVERY DENNISON	$35,065,000	–	343,441	–	1.64%	–
PEP	New	PEPSICO	$34,947,000	–	321,001	–	1.63%	–
TTEK	New	TETRA TECH	$34,197,000	–	584,570	–	1.60%	–
FDX	New	FEDEX CORPORATION	$34,083,000	–	150,106	–	1.59%	–
CVX	New	CHEVRON CORPORATION	$33,828,000	–	267,560	–	1.58%	–
UNP	New	UNION PACIFIC	$33,783,000	–	238,448	–	1.58%	–
LMT	New	LOCKHEED MARTIN	$33,754,000	–	114,255	–	1.58%	–
HPQ	New	HP INC	$33,108,000	–	1,459,160	–	1.55%	–
ZTS	New	ZOETIS	$32,616,000	–	382,857	–	1.52%	–
IP	New	INT'L PAPER	$32,437,000	–	622,835	–	1.52%	–
DE	New	DEERE AND CO	$31,488,000	–	225,236	–	1.47%	–
AXP	New	AMERICAN EXPRESS	$31,235,000	–	318,725	–	1.46%	–
IPGP	New	IPG PHOTONICS	$30,888,000	–	140,000	–	1.44%	–
DIS	New	WALT DISNEY	$29,560,000	–	282,038	–	1.38%	–
VMW	New	VMWARE INC	$29,394,000	–	200,000	–	1.37%	–
BA	New	BOEING	$29,326,000	–	87,407	–	1.37%	–
WMT	New	WAL-MART STORES INC	$29,231,000	–	341,284	–	1.37%	–
OEC	New	ORION ENGINEERED CARBONS (LU)	$28,721,000	–	930,990	–	1.34%	–
NOK	New	NOKIA (FI)	$28,677,000	–	4,987,285	–	1.34%	–
JKHY	New	JACK HENRY ASSOC	$28,027,000	–	215,000	–	1.31%	–
VRTX	New	VERTEX PHARMACEUTICALS	$28,043,000	–	165,000	–	1.31%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$27,128,000	–	331,842	–	1.27%	–
CL	New	COLGATE PALMOLIVE	$24,726,000	–	381,510	–	1.16%	–
VET	New	VERMILION ENERGY (CA)	$24,378,000	–	676,990	–	1.14%	–
TSE	New	TRINSEO S.A. (LU)	$23,413,000	–	330,000	–	1.09%	–
IBM	New	IBM	$22,676,000	–	162,320	–	1.06%	–
SEDG	New	SOLAREDGE TECHNOLOGIES	$21,532,000	–	450,000	–	1.01%	–
PUK	New	PRUDENTIAL PLC (GB)	$21,250,000	–	465,000	–	0.99%	–
COT	New	COTT CORP (CA)	$20,770,000	–	1,255,000	–	0.97%	–
MMC	New	MARSH & MCLENNAN	$20,511,000	–	250,225	–	0.96%	–
COO	New	THE COOPER COMPANIES	$20,067,000	–	85,230	–	0.94%	–
STT	New	STATE STREET	$19,761,000	–	212,275	–	0.92%	–
MLNX	New	MELLANOX TECHNOLOGIES (IS)	$19,389,000	–	230,000	–	0.91%	–
ABB	New	ABB LTD ADR (SZ)	$18,711,000	–	859,469	–	0.87%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$18,543,000	–	482,899	–	0.87%	–
TKR	New	TIMKEN	$18,058,000	–	414,650	–	0.84%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$17,571,000	–	977,770	–	0.82%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$17,545,000	–	141,537	–	0.82%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$17,207,000	–	780,000	–	0.80%	–
BAYRY	New	BAYER ADR (DE)	$16,644,000	–	603,470	–	0.78%	–
KMT	New	KENNAMETAL	$16,256,000	–	452,800	–	0.76%	–
MDP	New	MEREDITH CORP	$15,300,000	–	300,000	–	0.72%	–
MAR	New	MARRIOTT INT'L	$15,192,000	–	120,000	–	0.71%	–
GLNCY	New	GLENCORE PLC ADR (SZ)	$13,851,000	–	1,458,000	–	0.65%	–
RYAM	New	RAYONIER ADVANCED MATERIALS	$13,843,000	–	810,000	–	0.65%	–
PYPL	New	PAYPAL HOLDINGS	$12,754,000	–	153,165	–	0.60%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS Lmlp	$10,981,000	–	396,870	–	0.51%	–
BEP	New	BROOKFIELD RENEWABLE COMMON LPunt	$9,723,000	–	323,563	–	0.45%	–
BX	New	BLACKSTONE GROUP LPunt	$9,099,000	–	282,850	–	0.42%	–
KO	New	COCA-COLA	$7,583,000	–	172,900	–	0.35%	–
MSFT	New	MICROSOFT	$7,389,000	–	74,933	–	0.34%	–
EMR	New	EMERSON ELECTRIC	$5,081,000	–	73,491	–	0.24%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$4,706,000	–	200,350	–	0.22%	–
PG	New	PROCTER & GAMBLE	$3,901,000	–	49,979	–	0.18%	–
XOM	New	EXXON MOBIL	$3,854,000	–	46,590	–	0.18%	–
GOOG	New	ALPHABET INC CLASS C	$3,576,000	–	3,205	–	0.17%	–
WY	New	WEYERHAEUSER	$2,930,000	–	80,363	–	0.14%	–
LEG	New	LEGGETT & PLATT	$2,788,000	–	62,447	–	0.13%	–
GM	New	GENERAL MOTORS	$2,730,000	–	69,290	–	0.13%	–
KMB	New	KIMBERLY-CLARK	$2,713,000	–	25,755	–	0.13%	–
HBAN	New	HUNTINGTON BANCSHARES	$2,651,000	–	179,580	–	0.12%	–
PFE	New	PFIZER	$2,636,000	–	72,645	–	0.12%	–
T	New	AT&T	$2,600,000	–	80,974	–	0.12%	–
XYL	New	XYLEM	$2,550,000	–	37,852	–	0.12%	–
SNA	New	SNAP-ON	$2,490,000	–	15,490	–	0.12%	–
VMC	New	VULCAN MATERIALS	$2,475,000	–	19,180	–	0.12%	–
JPM	New	JPMORGAN CHASE	$2,336,000	–	22,414	–	0.11%	–
BDX	New	BECTON DICKINSON & CO	$2,309,000	–	9,640	–	0.11%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$2,033,000	–	20,810	–	0.10%	–
BBT	New	BB&T	$1,992,000	–	39,500	–	0.09%	–
OLN	New	OLIN	$1,929,000	–	67,175	–	0.09%	–
WELL	New	WELLTOWER INC	$1,868,000	–	29,795	–	0.09%	–
PH	New	PARKER-HANNIFIN	$1,732,000	–	11,115	–	0.08%	–
NSRGY	New	NESTLE SA ADR (SZ)	$1,496,000	–	19,325	–	0.07%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$1,435,000	–	7,840	–	0.07%	–
CAT	New	CATERPILLAR	$1,434,000	–	10,567	–	0.07%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$1,347,000	–	23,540	–	0.06%	–
NEE	New	NEXTERA ENERGY	$1,356,000	–	8,116	–	0.06%	–
KHC	New	KRAFT HEINZ	$1,239,000	–	19,726	–	0.06%	–
IR	New	INGERSOLL-RAND PLC (IL)	$1,220,000	–	13,600	–	0.06%	–
VOD	New	VODAFONE GROUP (GB)	$1,211,000	–	49,825	–	0.06%	–
GE	New	GENERAL ELECTRIC	$1,201,000	–	88,280	–	0.06%	–
EFX	New	EQUIFAX	$1,182,000	–	9,447	–	0.06%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$1,140,000	–	15,145	–	0.05%	–
DUK	New	DUKE ENERGY CORP NEW	$1,076,000	–	13,603	–	0.05%	–
UTX	New	UNITED TECHNOLOGIES	$978,000	–	7,820	–	0.05%	–
PLD	New	PROLOGIS	$877,000	–	13,356	–	0.04%	–
ROK	New	ROCKWELL AUTOMATION	$740,000	–	4,450	–	0.04%	–
UL	New	UNILEVER PLC ADR (GB)	$702,000	–	12,708	–	0.03%	–
NSC	New	NORFOLK SOUTHERN	$699,000	–	4,635	–	0.03%	–
FNB	New	FNB CORP	$626,000	–	46,656	–	0.03%	–
GOOGL	New	ALPHABET INC CLASS A	$619,000	–	548	–	0.03%	–
VZ	New	VERIZON COMMUNICATIONS	$594,000	–	11,805	–	0.03%	–
BMY	New	BRISTOL-MYERS SQUIBB	$598,000	–	10,805	–	0.03%	–
TRP	New	TRANSCANADA CORP ADR (CA)	$577,000	–	13,350	–	0.03%	–
MDT	New	MEDTRONIC PLC (IL)	$546,000	–	6,375	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$543,000	–	13,476	–	0.02%	–
BWA	New	BORG WARNER INC	$483,000	–	11,180	–	0.02%	–
ORCL	New	ORACLE CORP COM	$420,000	–	9,540	–	0.02%	–
CMI	New	CUMMINS INC	$382,000	–	2,875	–	0.02%	–
CB	New	CHUBB LTD (SZ)	$351,000	–	2,765	–	0.02%	–
INTC	New	INTEL CORP	$338,000	–	6,790	–	0.02%	–
PNC	New	PNC FINL SVCS GROUP COM	$294,000	–	2,175	–	0.01%	–
FLR	New	FLUOR	$296,000	–	6,075	–	0.01%	–
MET	New	METLIFE	$290,000	–	6,650	–	0.01%	–
JEF	New	JEFFERIES FINANCIAL GROUP	$273,000	–	12,000	–	0.01%	–
RDSA	New	ROYAL DUTCH SHELL PLC ADR A (N	$273,000	–	3,944	–	0.01%	–
C	New	CITIGROUP INC	$276,000	–	4,120	–	0.01%	–
Y	New	ALLEGHANY CORP	$265,000	–	461	–	0.01%	–
DNB	New	DUN & BRADSTREET	$266,000	–	2,165	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$264,000	–	4,349	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$226,000	–	5,510	–	0.01%	–
PNR	New	PENTAIR PLC (IL)	$221,000	–	5,250	–	0.01%	–
INGR	New	INGREDION	$217,000	–	1,960	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
CO	Exit	CHINA CORD BLOOD CORP	$0	–	-11,900	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-5,310	–	-0.01%	–
AMBA	Exit	AMBARELLA (CI)	$0	–	-4,500	–	-0.01%	–
CPB	Exit	CAMPBELL SOUP	$0	–	-4,690	–	-0.01%	–
LNC	Exit	LINCOLN NATIONAL	$0	–	-2,975	–	-0.01%	–
AON	Exit	AON PLC	$0	–	-1,380	–	-0.01%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC ADR A (N	$0	–	-4,049	–	-0.01%	–
DNB	Exit	DUN & BRADSTREET	$0	–	-2,165	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-6,790	–	-0.01%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-4,289	–	-0.01%	–
STT	Exit	STATE STREET	$0	–	-2,950	–	-0.01%	–
SNY	Exit	SANOFI SPONSORED ADR (FR)	$0	–	-5,850	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-4,120	–	-0.01%	–
PNC	Exit	PNC FINL SVCS GROUP COM	$0	–	-2,175	–	-0.01%	–
Y	Exit	ALLEGHANY CORP	$0	–	-561	–	-0.02%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-4,175	–	-0.02%	–
	Exit	LEUCADIA NAT'L CORP	$0	–	-14,500	–	-0.02%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS SER C	$0	–	-18,000	–	-0.02%	–
PNR	Exit	PENTAIR PLC (IL)	$0	–	-5,250	–	-0.02%	–
MTX	Exit	MINERALS TECHNOLOGIES	$0	–	-5,000	–	-0.02%	–
BA	Exit	BOEING	$0	–	-1,580	–	-0.02%	–
CB	Exit	CHUBB LTD (SZ)	$0	–	-2,765	–	-0.02%	–
TECK	Exit	TECK RESOURCES LTD (CA)	$0	–	-21,745	–	-0.02%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-9,890	–	-0.02%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-6,285	–	-0.02%	–
FLR	Exit	FLUOR	$0	–	-12,295	–	-0.02%	–
GOOGL	Exit	ALPHABET INC CLASS A	$0	–	-548	–	-0.02%	–
INGR	Exit	INGREDION	$0	–	-5,095	–	-0.03%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-12,854	–	-0.03%	–
BWA	Exit	BORG WARNER INC	$0	–	-13,025	–	-0.03%	–
KR	Exit	KROGER	$0	–	-33,050	–	-0.03%	–
FNB	Exit	FNB CORP	$0	–	-46,656	–	-0.03%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-10,805	–	-0.03%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-5,235	–	-0.03%	–
TRP	Exit	TRANSCANADA CORP ADR (CA)	$0	–	-14,865	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-19,483	–	-0.04%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-4,500	–	-0.04%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-14,495	–	-0.04%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-6,245	–	-0.04%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-8,110	–	-0.04%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-10,929	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-15,145	–	-0.06%	–
CAT	Exit	CATERPILLAR	$0	–	-10,365	–	-0.06%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-8,005	–	-0.06%	–
EFX	Exit	EQUIFAX	$0	–	-12,578	–	-0.06%	–
MET	Exit	METLIFE	$0	–	-25,595	–	-0.06%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-16,315	–	-0.06%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-23,499	–	-0.07%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-19,708	–	-0.08%	–
BBT	Exit	BB&T	$0	–	-36,650	–	-0.08%	–
KHC	Exit	KRAFT HEINZ	$0	–	-22,893	–	-0.08%	–
WELL	Exit	WELLTOWER INC	$0	–	-26,190	–	-0.09%	–
XYL	Exit	XYLEM	$0	–	-30,485	–	-0.09%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-11,555	–	-0.10%	–
HBAN	Exit	HUNTINGTON BANCSHARES	$0	–	-158,790	–	-0.10%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-16,955	–	-0.11%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-105,160	–	-0.12%	–
PFE	Exit	PFIZER	$0	–	-74,120	–	-0.12%	–
WY	Exit	WEYERHAEUSER	$0	–	-79,308	–	-0.13%	–
BDC	Exit	BELDEN	$0	–	-37,350	–	-0.14%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-26,082	–	-0.14%	–
USCR	Exit	U S CONCRETE	$0	–	-42,235	–	-0.15%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-54,287	–	-0.16%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE	$0	–	-46,574	–	-0.17%	–
BCR	Exit	C.R. BARD	$0	–	-12,013	–	-0.18%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-81,170	–	-0.18%	–
SNA	Exit	SNAP-ON	$0	–	-27,030	–	-0.19%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-200,350	–	-0.25%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-58,381	–	-0.25%	–
MSFT	Exit	MICROSOFT	$0	–	-78,818	–	-0.28%	–
T	Exit	AT&T	$0	–	-154,778	–	-0.28%	–
XOM	Exit	EXXON MOBIL	$0	–	-88,051	–	-0.34%	–
IBM	Exit	IBM	$0	–	-56,130	–	-0.38%	–
TNH	Exit	TERRA NITROGEN CO LPunt	$0	–	-103,400	–	-0.40%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-351,434	–	-0.40%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS Lmlp	$0	–	-345,796	–	-0.42%	–
BEP	Exit	BROOKFIELD RENEWABLE COMMON LPunt	$0	–	-273,295	–	-0.43%	–
BX	Exit	BLACKSTONE GROUP LPunt	$0	–	-281,370	–	-0.44%	–
KO	Exit	COCA-COLA	$0	–	-217,900	–	-0.46%	–
CBS	Exit	CBS CORP	$0	–	-190,000	–	-0.52%	–
MTW	Exit	MANITOWOC	$0	–	-1,540,000	–	-0.65%	–
WPM	Exit	WHEATON PRECIOUS METALS (CA)	$0	–	-765,000	–	-0.69%	–
VEOEY	Exit	VEOLIA ENVIRONNEMENT (FR)	$0	–	-660,000	–	-0.72%	–
MTSC	Exit	MTS SYSTEMS	$0	–	-295,000	–	-0.74%	–
SEDG	Exit	SOLAREDGE TECHNOLOGIES	$0	–	-563,000	–	-0.76%	–
KMT	Exit	KENNAMETAL	$0	–	-456,400	–	-0.87%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-154,485	–	-0.87%	–
COT	Exit	COTT CORP (CA)	$0	–	-1,310,000	–	-0.92%	–
AOS	Exit	A O SMITH	$0	–	-340,000	–	-0.95%	–
ZTS	Exit	ZOETIS	$0	–	-322,262	–	-0.97%	–
AGN	Exit	ALLERGAN PLC (IL)	$0	–	-100,360	–	-0.97%	–
BAYRY	Exit	BAYER ADR (DE)	$0	–	-603,160	–	-0.97%	–
OEC	Exit	ORION ENGINEERED CARBONS (LU)	$0	–	-921,155	–	-0.97%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-490,174	–	-1.00%	–
SIEGY	Exit	SIEMENS AG ADR (DE)	$0	–	-300,000	–	-1.00%	–
TSE	Exit	TRINSEO S.A. (LU)	$0	–	-330,000	–	-1.04%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-264,739	–	-1.04%	–
PUK	Exit	PRUDENTIAL PLC (GB)	$0	–	-465,000	–	-1.05%	–
VET	Exit	VERMILION ENERGY (CA)	$0	–	-658,010	–	-1.10%	–
IR	Exit	INGERSOLL-RAND PLC (IL)	$0	–	-266,035	–	-1.12%	–
VMW	Exit	VMWARE INC	$0	–	-218,050	–	-1.12%	–
JKHY	Exit	JACK HENRY ASSOC	$0	–	-235,000	–	-1.14%	–
CVX	Exit	CHEVRON CORPORATION	$0	–	-208,680	–	-1.15%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-219,560	–	-1.18%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-165,000	–	-1.18%	–
CMI	Exit	CUMMINS INC	$0	–	-159,550	–	-1.26%	–
HSIC	Exit	HENRY SCHEIN INC	$0	–	-335,380	–	-1.29%	–
TTEK	Exit	TETRA TECH	$0	–	-596,105	–	-1.30%	–
UNP	Exit	UNION PACIFIC	$0	–	-239,493	–	-1.31%	–
DIS	Exit	WALT DISNEY	$0	–	-284,223	–	-1.32%	–
OLN	Exit	OLIN	$0	–	-822,205	–	-1.32%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-386,863	–	-1.33%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-344,367	–	-1.34%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-315,295	–	-1.34%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-861,330	–	-1.36%	–
HPQ	Exit	HP INC	$0	–	-1,462,070	–	-1.37%	–
DE	Exit	DEERE AND CO	$0	–	-236,826	–	-1.40%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-165,000	–	-1.44%	–
NOK	Exit	NOKIA (FI)	$0	–	-5,133,775	–	-1.44%	–
V	Exit	VISA	$0	–	-313,362	–	-1.55%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-147,036	–	-1.56%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-303,596	–	-1.56%	–
PEP	Exit	PEPSICO	$0	–	-302,099	–	-1.58%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-1,715,035	–	-1.64%	–
ATI	Exit	ALLEGHENY TECH	$0	–	-1,471,535	–	-1.65%	–
MKC	Exit	MCCORMICK & CO	$0	–	-348,548	–	-1.68%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-742,466	–	-1.69%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-117,181	–	-1.71%	–
AVY	Exit	AVERY DENNISON	$0	–	-373,226	–	-1.73%	–
IP	Exit	INT'L PAPER	$0	–	-680,745	–	-1.82%	–
HRS	Exit	HARRIS	$0	–	-294,455	–	-1.82%	–
AAPL	Exit	APPLE INC	$0	–	-255,294	–	-1.85%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-41,066	–	-1.85%	–
DWDP	Exit	DOWDUPONT	$0	–	-576,511	–	-1.88%	–
HD	Exit	HOME DEPOT INC	$0	–	-246,693	–	-1.90%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-311,571	–	-1.90%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-217,908	–	-1.94%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-944,170	–	-1.94%	–
FMC	Exit	FMC CORP	$0	–	-478,030	–	-2.01%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-276,508	–	-2.07%	–
SPGI	Exit	S & P GLOBAL	$0	–	-292,478	–	-2.15%	–
GLW	Exit	CORNING	$0	–	-1,535,832	–	-2.16%	–
HON	Exit	HONEYWELL INT'L	$0	–	-325,488	–	-2.17%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-529,433	–	-2.23%	–
MMM	Exit	3M COMPANY	$0	–	-235,849	–	-2.33%	–

Q3 2017

			Value		Shares		↓ Weighting
MMM	Buy	3M COMPANY	$49,505,000	+4.7%	235,849	+3.9%	2.33%	+0.5%
TXN	Buy	TEXAS INSTRUMENTS	$47,458,000	+20.3%	529,433	+3.3%	2.23%	+15.5%
HON	Buy	HONEYWELL INT'L	$46,135,000	+10.7%	325,488	+4.1%	2.17%	+6.3%
GLW	Buy	CORNING	$45,952,000	+3.3%	1,535,832	+3.8%	2.16%	-0.8%
SPGI	Buy	S & P GLOBAL	$45,717,000	+13.4%	292,478	+5.9%	2.15%	+8.9%
TDY	Buy	TELEDYNE TECHNOLOGIES	$44,015,000	+27.4%	276,508	+2.2%	2.07%	+22.3%
FMC	Sell	FMC CORP	$42,693,000	+20.7%	478,030	-1.3%	2.01%	+15.8%
SCHW	Buy	CHARLES SCHWAB CORP	$41,298,000	+2.3%	944,170	+0.5%	1.94%	-1.8%
TMO	Buy	THERMO FISHER SCIENTIFIC	$41,228,000	+11.0%	217,908	+2.4%	1.94%	+6.5%
JNJ	Sell	JOHNSON & JOHNSON	$40,507,000	-1.8%	311,571	-0.1%	1.90%	-5.7%
HD	Buy	HOME DEPOT INC	$40,349,000	+10.8%	246,693	+4.0%	1.90%	+6.4%
DWDP	New	DOWDUPONT	$39,912,000	–	576,511	–	1.88%	–
GOOG	Sell	ALPHABET INC CLASS C	$39,387,000	+5.1%	41,066	-0.4%	1.85%	+0.9%
AAPL	Sell	APPLE INC	$39,346,000	+6.9%	255,294	-0.1%	1.85%	+2.7%
HRS	Buy	HARRIS	$38,774,000	+24.0%	294,455	+2.8%	1.82%	+19.1%
IP	Buy	INT'L PAPER	$38,680,000	+27.4%	680,745	+26.9%	1.82%	+22.2%
AVY	Sell	AVERY DENNISON	$36,703,000	+11.0%	373,226	-0.3%	1.73%	+6.5%
LMT	Sell	LOCKHEED MARTIN	$36,360,000	+11.4%	117,181	-0.3%	1.71%	+6.9%
CHD	Buy	CHURCH AND DWIGHT	$35,972,000	-3.5%	742,466	+3.3%	1.69%	-7.4%
MKC	Buy	MCCORMICK & CO	$35,775,000	+10.7%	348,548	+5.2%	1.68%	+6.3%
ATI	Buy	ALLEGHENY TECH	$35,170,000	+51.7%	1,471,535	+8.0%	1.65%	+45.6%
MFC	Buy	MANULIFE FINL CORP ADR (CA)	$34,798,000	+9.8%	1,715,035	+1.5%	1.64%	+5.4%
PEP	Buy	PEPSICO	$33,663,000	-3.2%	302,099	+0.3%	1.58%	-7.1%
ADP	Sell	AUTOMATIC DATA PROCESSING	$33,189,000	+6.1%	303,596	-0.6%	1.56%	+1.8%
FDX	Buy	FEDEX CORPORATION	$33,168,000	+5.0%	147,036	+1.2%	1.56%	+0.8%
V	Buy	VISA	$32,978,000	+12.5%	313,362	+0.2%	1.55%	+8.0%
NOK	Buy	NOKIA (FI)	$30,700,000	+2.9%	5,133,775	+6.0%	1.44%	-1.2%
IPGP	Buy	IPG PHOTONICS	$30,535,000	+38.0%	165,000	+8.2%	1.44%	+32.5%
DE	Sell	DEERE AND CO	$29,743,000	+1.6%	236,826	-0.0%	1.40%	-2.4%
HPQ	Buy	HP INC	$29,183,000	+32.2%	1,462,070	+15.8%	1.37%	+27.0%
CSCO	Buy	CISCO SYSTEMS	$28,967,000	+8.1%	861,330	+0.6%	1.36%	+3.7%
AXP	Buy	AMERICAN EXPRESS	$28,522,000	+22.9%	315,295	+14.5%	1.34%	+18.0%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$28,531,000	+1.4%	344,367	-0.8%	1.34%	-2.7%
CL	Sell	COLGATE PALMOLIVE	$28,183,000	-1.9%	386,863	-0.2%	1.33%	-5.8%
DIS	Buy	WALT DISNEY	$28,016,000	-0.2%	284,223	+7.6%	1.32%	-4.1%
UNP	Buy	UNION PACIFIC	$27,774,000	+11.9%	239,493	+5.1%	1.31%	+7.4%
TTEK	Buy	TETRA TECH	$27,749,000	+2.7%	596,105	+0.9%	1.30%	-1.4%
HSIC	Buy	HENRY SCHEIN INC	$27,498,000	+3.3%	335,380	+130.5%	1.29%	-0.9%
CMI	Buy	CUMMINS INC	$26,809,000	+4.1%	159,550	+0.5%	1.26%	-0.1%
VRTX	Sell	VERTEX PHARMACEUTICALS	$25,087,000	+8.1%	165,000	-8.3%	1.18%	+3.8%
CHKP	Buy	CHECK POINT SOFTWARE TECH (IS)	$25,034,000	+6.3%	219,560	+1.7%	1.18%	+2.0%
CVX	Buy	CHEVRON CORPORATION	$24,520,000	+3900.0%	208,680	+3449.0%	1.15%	+3743.3%
VMW	Buy	VMWARE INC	$23,809,000	+54.4%	218,050	+23.6%	1.12%	+48.1%
IR	Buy	INGERSOLL-RAND PLC (IL)	$23,722,000	-0.8%	266,035	+1.6%	1.12%	-4.8%
VET	Buy	VERMILION ENERGY (CA)	$23,412,000	+36.3%	658,010	+21.5%	1.10%	+30.8%
PUK	Buy	PRUDENTIAL PLC (GB)	$22,278,000	+13.9%	465,000	+9.4%	1.05%	+9.4%
MMC	Sell	MARSH & MCLENNAN	$22,188,000	-1.8%	264,739	-8.6%	1.04%	-5.7%
TSE	Buy	TRINSEO S.A. (LU)	$22,143,000	+7.4%	330,000	+10.0%	1.04%	+3.1%
SIEGY	Buy	SIEMENS AG ADR (DE)	$21,225,000	+8.1%	300,000	+5.6%	1.00%	+3.7%
BIP	Buy	BROOKFIELD INFRASTRUCTURE PARTunt	$21,146,000	+5.6%	490,174	+0.1%	1.00%	+1.4%
OEC	Buy	ORION ENGINEERED CARBONS (LU)	$20,680,000	+57.4%	921,155	+39.9%	0.97%	+51.1%
BAYRY	Buy	BAYER ADR (DE)	$20,640,000	+5.5%	603,160	+300.4%	0.97%	+1.4%
AGN	Buy	ALLERGAN PLC (IL)	$20,569,000	+1.1%	100,360	+19.9%	0.97%	-3.0%
ZTS	New	ZOETIS	$20,547,000	–	322,262	–	0.97%	–
AOS	Buy	A O SMITH	$20,206,000	+19.6%	340,000	+13.3%	0.95%	+14.7%
VMC	Buy	VULCAN MATERIALS	$18,476,000	+2.8%	154,485	+8.9%	0.87%	-1.2%
KMT	New	KENNAMETAL	$18,411,000	–	456,400	–	0.87%	–
SEDG	Buy	SOLAREDGE TECHNOLOGIES	$16,074,000	+3918.5%	563,000	+2715.0%	0.76%	+3680.0%
MTSC	Buy	MTS SYSTEMS	$15,768,000	+45.0%	295,000	+40.5%	0.74%	+39.2%
VEOEY	Buy	VEOLIA ENVIRONNEMENT (FR)	$15,193,000	+25.6%	660,000	+15.8%	0.72%	+20.6%
WPM	Buy	WHEATON PRECIOUS METALS (CA)	$14,604,000	+3.4%	765,000	+7.7%	0.69%	-0.7%
MTW	New	MANITOWOC	$13,860,000	–	1,540,000	–	0.65%	–
CBS	Sell	CBS CORP	$11,020,000	-17.7%	190,000	-9.5%	0.52%	-21.0%
BX	Buy	BLACKSTONE GROUP LPunt	$9,389,000	+0.5%	281,370	+0.4%	0.44%	-3.5%
BEP	Buy	BROOKFIELD RENEWABLE COMMON LPunt	$9,161,000	+6.8%	273,295	+1.8%	0.43%	+2.6%
EPD	Buy	ENTERPRISE PRODUCTS PARTNERS Lmlp	$9,015,000	-3.2%	345,796	+0.5%	0.42%	-7.0%
GE	Sell	GENERAL ELECTRIC	$8,498,000	-66.6%	351,434	-62.7%	0.40%	-67.9%
TNH	Buy	TERRA NITROGEN CO LPunt	$8,453,000	-4.5%	103,400	+0.3%	0.40%	-8.3%
IBM	Buy	IBM	$8,143,000	+911.6%	56,130	+973.2%	0.38%	+882.1%
XOM	Sell	EXXON MOBIL	$7,218,000	-72.4%	88,051	-72.8%	0.34%	-73.6%
T	Sell	AT&T	$6,063,000	-71.3%	154,778	-72.4%	0.28%	-72.5%
MSFT	Sell	MICROSOFT	$5,871,000	+5.1%	78,818	-2.8%	0.28%	+0.7%
PG	Sell	PROCTER & GAMBLE	$5,312,000	+1.3%	58,381	-3.0%	0.25%	-2.7%
SNA	Sell	SNAP-ON	$4,028,000	-82.2%	27,030	-81.1%	0.19%	-82.9%
LEG	Sell	LEGGETT & PLATT	$3,874,000	-84.5%	81,170	-82.9%	0.18%	-85.1%
BCR	Sell	C.R. BARD	$3,850,000	-9.7%	12,013	-10.9%	0.18%	-13.4%
WBA	Sell	WALGREENS BOOTS ALLIANCE	$3,596,000	-87.7%	46,574	-87.6%	0.17%	-88.2%
EMR	Sell	EMERSON ELECTRIC	$3,411,000	+0.7%	54,287	-4.4%	0.16%	-3.6%
USCR	Sell	U S CONCRETE	$3,223,000	-3.3%	42,235	-0.5%	0.15%	-6.7%
KMB	Buy	KIMBERLY-CLARK	$3,069,000	-7.9%	26,082	+1.0%	0.14%	-11.7%
BDC	Buy	BELDEN	$3,008,000	+8.0%	37,350	+1.2%	0.14%	+3.7%
ABB	Sell	ABB LTD ADR (SZ)	$2,603,000	-86.7%	105,160	-86.6%	0.12%	-87.3%
HBAN	Buy	HUNTINGTON BANCSHARES	$2,217,000	+28.2%	158,790	+24.1%	0.10%	+22.4%
WELL	Buy	WELLTOWER INC	$1,841,000	-5.0%	26,190	+1.2%	0.09%	-8.4%
KHC	Sell	KRAFT HEINZ	$1,775,000	-10.2%	22,893	-0.8%	0.08%	-14.4%
BBT	Buy	BB&T	$1,720,000	+6.2%	36,650	+2.8%	0.08%	+2.5%
CP	Buy	CANADIAN PACIFIC RAILWAY LTD (	$1,345,000	+10.0%	8,005	+5.3%	0.06%	+5.0%
EFX	Sell	EQUIFAX	$1,333,000	-58.4%	12,578	-46.1%	0.06%	-59.9%
MET	Buy	METLIFE	$1,330,000	-1.6%	25,595	+4.1%	0.06%	-4.5%
JPM	Buy	JPMORGAN CHASE	$1,044,000	+6.2%	10,929	+1.6%	0.05%	+2.1%
GSK	Buy	GLAXOSMITHKLINE PLC ADR (GB)	$791,000	-5.3%	19,483	+0.6%	0.04%	-9.8%
TRP	Buy	TRANSCANADA CORP ADR (CA)	$735,000	+26.5%	14,865	+22.0%	0.04%	+25.0%
KR	Sell	KROGER	$663,000	-57.4%	33,050	-50.5%	0.03%	-59.2%
FLR	Sell	FLUOR	$518,000	-28.4%	12,295	-22.2%	0.02%	-31.4%
MDT	Buy	MEDTRONIC PLC (IL)	$489,000	+35.8%	6,285	+55.0%	0.02%	+27.8%
TECK	Buy	TECK RESOURCES LTD (CA)	$459,000	+42.5%	21,745	+17.1%	0.02%	+37.5%
BA	Sell	BOEING	$402,000	+27.2%	1,580	-1.2%	0.02%	+26.7%
GILD	Sell	GILEAD SCIENCES	$338,000	-34.0%	4,175	-42.3%	0.02%	-36.0%
C	Sell	CITIGROUP INC	$300,000	-18.5%	4,120	-25.1%	0.01%	-22.2%
SNY	New	SANOFI SPONSORED ADR (FR)	$291,000	–	5,850	–	0.01%	–
AON	New	AON PLC	$202,000	–	1,380	–	0.01%	–
CPB	Sell	CAMPBELL SOUP	$220,000	-35.1%	4,690	-28.0%	0.01%	-41.2%
CO	New	CHINA CORD BLOOD CORP	$132,000	–	11,900	–	0.01%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-2,855	–	-0.01%	–
COF	Exit	CAPITAL ONE FINANCIAL CP	$0	–	-3,587	–	-0.02%	–
RRC	Exit	RANGE RESOURCES CORP	$0	–	-20,400	–	-0.02%	–
NUE	Exit	NUCOR	$0	–	-230,000	–	-0.65%	–
HHC	Exit	HOWARD HUGHES CORP	$0	–	-150,000	–	-0.90%	–
NWL	Exit	NEWELL BRANDS	$0	–	-541,005	–	-1.42%	–
DD	Exit	DUPONT	$0	–	-414,041	–	-1.64%	–

Q2 2017

			Value		Shares		↓ Weighting
MMM	New	3M COMPANY	$47,279,000	–	227,098	–	2.32%	–
GLW	New	CORNING	$44,467,000	–	1,479,752	–	2.18%	–
HON	New	HONEYWELL INT'L	$41,671,000	–	312,633	–	2.04%	–
JNJ	New	JOHNSON & JOHNSON	$41,249,000	–	311,809	–	2.02%	–
SCHW	New	CHARLES SCHWAB CORP	$40,358,000	–	939,425	–	1.98%	–
SPGI	New	S & P GLOBAL	$40,312,000	–	276,128	–	1.98%	–
TXN	New	TEXAS INSTRUMENTS	$39,442,000	–	512,698	–	1.93%	–
GOOG	New	ALPHABET INC CLASS C	$37,476,000	–	41,240	–	1.84%	–
CHD	New	CHURCH AND DWIGHT	$37,282,000	–	718,621	–	1.83%	–
TMO	New	THERMO FISHER SCIENTIFIC	$37,136,000	–	212,848	–	1.82%	–
AAPL	New	APPLE INC	$36,790,000	–	255,449	–	1.80%	–
HD	New	HOME DEPOT INC	$36,402,000	–	237,303	–	1.78%	–
FMC	New	FMC CORP	$35,385,000	–	484,390	–	1.73%	–
PEP	New	PEPSICO	$34,781,000	–	301,159	–	1.70%	–
TDY	New	TELEDYNE TECHNOLOGIES	$34,551,000	–	270,668	–	1.69%	–
DD	New	DUPONT	$33,417,000	–	414,041	–	1.64%	–
AVY	New	AVERY DENNISON	$33,067,000	–	374,186	–	1.62%	–
LMT	New	LOCKHEED MARTIN	$32,639,000	–	117,571	–	1.60%	–
MKC	New	MCCORMICK & CO	$32,315,000	–	331,403	–	1.58%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$31,688,000	–	1,689,135	–	1.55%	–
FDX	New	FEDEX CORPORATION	$31,590,000	–	145,356	–	1.55%	–
ADP	New	AUTOMATIC DATA PROCESSING	$31,290,000	–	305,391	–	1.53%	–
HRS	New	HARRIS	$31,257,000	–	286,555	–	1.53%	–
IP	New	INT'L PAPER	$30,370,000	–	536,475	–	1.49%	–
NOK	New	NOKIA (FI)	$29,843,000	–	4,844,575	–	1.46%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$29,349,000	–	374,786	–	1.44%	–
V	New	VISA	$29,317,000	–	312,612	–	1.44%	–
DE	New	DEERE AND CO	$29,274,000	–	236,866	–	1.43%	–
NWL	New	NEWELL BRANDS	$29,009,000	–	541,005	–	1.42%	–
CL	New	COLGATE PALMOLIVE	$28,737,000	–	387,651	–	1.41%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$28,149,000	–	347,303	–	1.38%	–
DIS	New	WALT DISNEY	$28,062,000	–	264,111	–	1.38%	–
TTEK	New	TETRA TECH	$27,027,000	–	590,755	–	1.32%	–
CSCO	New	CISCO SYSTEMS	$26,801,000	–	856,265	–	1.31%	–
HSIC	New	HENRY SCHEIN INC	$26,628,000	–	145,490	–	1.30%	–
XOM	New	EXXON MOBIL	$26,164,000	–	324,097	–	1.28%	–
CMI	New	CUMMINS INC	$25,756,000	–	158,770	–	1.26%	–
GE	New	GENERAL ELECTRIC	$25,454,000	–	942,384	–	1.25%	–
LEG	New	LEGGETT & PLATT	$24,965,000	–	475,245	–	1.22%	–
OLN	New	OLIN	$24,896,000	–	822,205	–	1.22%	–
UNP	New	UNION PACIFIC	$24,820,000	–	227,898	–	1.22%	–
JKHY	New	JACK HENRY ASSOC	$24,409,000	–	235,000	–	1.20%	–
IR	New	INGERSOLL-RAND PLC (IL)	$23,920,000	–	261,735	–	1.17%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$23,555,000	–	215,945	–	1.15%	–
VRTX	New	VERTEX PHARMACEUTICALS	$23,197,000	–	180,000	–	1.14%	–
AXP	New	AMERICAN EXPRESS	$23,202,000	–	275,425	–	1.14%	–
ATI	New	ALLEGHENY TECH	$23,181,000	–	1,362,770	–	1.14%	–
MMC	New	MARSH & MCLENNAN	$22,588,000	–	289,739	–	1.11%	–
SNA	New	SNAP-ON	$22,570,000	–	142,850	–	1.11%	–
IPGP	New	IPG PHOTONICS	$22,128,000	–	152,500	–	1.08%	–
HPQ	New	HP INC	$22,070,000	–	1,262,570	–	1.08%	–
T	New	AT&T	$21,143,000	–	560,383	–	1.04%	–
TSE	New	TRINSEO S.A. (LU)	$20,610,000	–	300,000	–	1.01%	–
AGN	New	ALLERGAN PLC (IL)	$20,351,000	–	83,720	–	1.00%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$20,024,000	–	489,474	–	0.98%	–
SIEGY	New	SIEMENS AG ADR (DE)	$19,639,000	–	284,000	–	0.96%	–
ABB	New	ABB LTD ADR (SZ)	$19,578,000	–	786,265	–	0.96%	–
BAYRY	New	BAYER ADR (DE)	$19,562,000	–	150,630	–	0.96%	–
PUK	New	PRUDENTIAL PLC (GB)	$19,554,000	–	425,000	–	0.96%	–
COT	New	COTT CORP (CA)	$18,916,000	–	1,310,000	–	0.93%	–
HHC	New	HOWARD HUGHES CORP	$18,426,000	–	150,000	–	0.90%	–
VMC	New	VULCAN MATERIALS	$17,970,000	–	141,850	–	0.88%	–
VET	New	VERMILION ENERGY (CA)	$17,183,000	–	541,550	–	0.84%	–
AOS	New	A O SMITH	$16,899,000	–	300,000	–	0.83%	–
VMW	New	VMWARE INC	$15,425,000	–	176,425	–	0.76%	–
WPM	New	WHEATON PRECIOUS METALS (CA)	$14,122,000	–	710,000	–	0.69%	–
CBS	New	CBS CORP	$13,394,000	–	210,000	–	0.66%	–
NUE	New	NUCOR	$13,310,000	–	230,000	–	0.65%	–
OEC	New	ORION ENGINEERED CARBONS (LU)	$13,139,000	–	658,605	–	0.64%	–
VEOEY	New	VEOLIA ENVIRONNEMENT (FR)	$12,095,000	–	570,000	–	0.59%	–
MTSC	New	MTS SYSTEMS	$10,878,000	–	210,000	–	0.53%	–
KO	New	COCA-COLA	$9,773,000	–	217,900	–	0.48%	–
BX	New	BLACKSTONE GROUP LPunt	$9,344,000	–	280,170	–	0.46%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS Lmlp	$9,317,000	–	344,046	–	0.46%	–
TNH	New	TERRA NITROGEN CO LPunt	$8,852,000	–	103,100	–	0.43%	–
BEP	New	BROOKFIELD RENEWABLE COMMON LPunt	$8,576,000	–	268,495	–	0.42%	–
MSFT	New	MICROSOFT	$5,587,000	–	81,058	–	0.27%	–
PG	New	PROCTER & GAMBLE	$5,246,000	–	60,197	–	0.26%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$4,766,000	–	200,350	–	0.23%	–
BCR	New	C.R. BARD	$4,264,000	–	13,488	–	0.21%	–
EMR	New	EMERSON ELECTRIC	$3,386,000	–	56,787	–	0.17%	–
KMB	New	KIMBERLY-CLARK	$3,333,000	–	25,812	–	0.16%	–
USCR	New	U S CONCRETE	$3,333,000	–	42,435	–	0.16%	–
EFX	New	EQUIFAX	$3,207,000	–	23,336	–	0.16%	–
BDC	New	BELDEN	$2,784,000	–	36,910	–	0.14%	–
WY	New	WEYERHAEUSER	$2,657,000	–	79,308	–	0.13%	–
PFE	New	PFIZER	$2,490,000	–	74,120	–	0.12%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$2,289,000	–	16,955	–	0.11%	–
KHC	New	KRAFT HEINZ	$1,976,000	–	23,070	–	0.10%	–
WELL	New	WELLTOWER INC	$1,938,000	–	25,890	–	0.10%	–
PH	New	PARKER-HANNIFIN	$1,847,000	–	11,555	–	0.09%	–
HBAN	New	HUNTINGTON BANCSHARES	$1,730,000	–	127,970	–	0.08%	–
NSRGY	New	NESTLE SA ADR (SZ)	$1,719,000	–	19,708	–	0.08%	–
XYL	New	XYLEM	$1,690,000	–	30,485	–	0.08%	–
BBT	New	BB&T	$1,619,000	–	35,650	–	0.08%	–
KR	New	KROGER	$1,558,000	–	66,824	–	0.08%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$1,413,000	–	23,499	–	0.07%	–
DUK	New	DUKE ENERGY CORP NEW	$1,364,000	–	16,315	–	0.07%	–
MET	New	METLIFE	$1,351,000	–	24,595	–	0.07%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$1,223,000	–	7,605	–	0.06%	–
CAT	New	CATERPILLAR	$1,114,000	–	10,365	–	0.06%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$1,098,000	–	15,145	–	0.05%	–
UTX	New	UNITED TECHNOLOGIES	$990,000	–	8,110	–	0.05%	–
JPM	New	JPMORGAN CHASE	$983,000	–	10,759	–	0.05%	–
NEE	New	NEXTERA ENERGY	$875,000	–	6,245	–	0.04%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$835,000	–	19,358	–	0.04%	–
IBM	New	IBM	$805,000	–	5,230	–	0.04%	–
UL	New	UNILEVER PLC ADR (GB)	$784,000	–	14,495	–	0.04%	–
ROK	New	ROCKWELL AUTOMATION	$729,000	–	4,500	–	0.04%	–
FLR	New	FLUOR	$723,000	–	15,795	–	0.04%	–
FNB	New	FNB CORP	$661,000	–	46,656	–	0.03%	–
NSC	New	NORFOLK SOUTHERN	$637,000	–	5,235	–	0.03%	–
INGR	New	INGREDION	$607,000	–	5,095	–	0.03%	–
CVX	New	CHEVRON CORPORATION	$613,000	–	5,880	–	0.03%	–
BMY	New	BRISTOL-MYERS SQUIBB	$602,000	–	10,805	–	0.03%	–
VZ	New	VERIZON COMMUNICATIONS	$574,000	–	12,854	–	0.03%	–
TRP	New	TRANSCANADA CORP ADR (CA)	$581,000	–	12,185	–	0.03%	–
BWA	New	BORG WARNER INC	$552,000	–	13,025	–	0.03%	–
GILD	New	GILEAD SCIENCES	$512,000	–	7,240	–	0.02%	–
GOOGL	New	ALPHABET INC CLASS A	$509,000	–	548	–	0.02%	–
ORCL	New	ORACLE CORP COM	$496,000	–	9,890	–	0.02%	–
RRC	New	RANGE RESOURCES CORP	$473,000	–	20,400	–	0.02%	–
DISCK	New	DISCOVERY COMMUNICATIONS SER C	$454,000	–	18,000	–	0.02%	–
SEDG	New	SOLAREDGE TECHNOLOGIES (IS)	$400,000	–	20,000	–	0.02%	–
CB	New	CHUBB LTD (SZ)	$402,000	–	2,765	–	0.02%	–
	New	LEUCADIA NAT'L CORP	$379,000	–	14,500	–	0.02%	–
C	New	CITIGROUP INC	$368,000	–	5,500	–	0.02%	–
MDT	New	MEDTRONIC PLC (IL)	$360,000	–	4,055	–	0.02%	–
MTX	New	MINERALS TECHNOLOGIES	$366,000	–	5,000	–	0.02%	–
PNR	New	PENTAIR PLC (IL)	$349,000	–	5,250	–	0.02%	–
CPB	New	CAMPBELL SOUP	$339,000	–	6,510	–	0.02%	–
TECK	New	TECK RESOURCES LTD (CA)	$322,000	–	18,565	–	0.02%	–
Y	New	ALLEGHANY CORP	$334,000	–	561	–	0.02%	–
COF	New	CAPITAL ONE FINANCIAL CP	$296,000	–	3,587	–	0.02%	–
BA	New	BOEING	$316,000	–	1,600	–	0.02%	–
PNC	New	PNC FINL SVCS GROUP COM	$272,000	–	2,175	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$275,000	–	4,289	–	0.01%	–
STT	New	STATE STREET	$265,000	–	2,950	–	0.01%	–
WDC	New	WESTERN DIGITAL CORP	$253,000	–	2,855	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$229,000	–	5,310	–	0.01%	–
AMBA	New	AMBARELLA (CI)	$218,000	–	4,500	–	0.01%	–
RDSA	New	ROYAL DUTCH SHELL PLC ADR A (N	$215,000	–	4,049	–	0.01%	–
DNB	New	DUN & BRADSTREET	$234,000	–	2,165	–	0.01%	–
INTC	New	INTEL CORP	$229,000	–	6,790	–	0.01%	–
LNC	New	LINCOLN NATIONAL	$201,000	–	2,975	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
K	Exit	KELLOGG	$0	–	-2,800	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-4,710	–	-0.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,580	–	-0.01%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-6,190	–	-0.01%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-4,539	–	-0.02%	–
Y	Exit	ALLEGHANY CORP	$0	–	-561	–	-0.02%	–
BG	Exit	BUNGE LTD ADR (BM)	$0	–	-4,955	–	-0.02%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-4,900	–	-0.02%	–
AMBA	Exit	AMBARELLA (CI)	$0	–	-4,500	–	-0.02%	–
PNR	Exit	PENTAIR PLC (IL)	$0	–	-5,250	–	-0.02%	–
	Exit	LEUCADIA NAT'L CORP	$0	–	-17,700	–	-0.02%	–
MTX	Exit	MINERALS TECHNOLOGIES	$0	–	-5,000	–	-0.02%	–
DNB	Exit	DUN & BRADSTREET	$0	–	-2,765	–	-0.02%	–
CVX	Exit	CHEVRON CORPORATION	$0	–	-3,725	–	-0.02%	–
SJM	Exit	J M SMUCKER	$0	–	-2,875	–	-0.02%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-7,854	–	-0.02%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS SER C	$0	–	-18,000	–	-0.02%	–
CPB	Exit	CAMPBELL SOUP	$0	–	-9,100	–	-0.03%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-4,575	–	-0.03%	–
PNY	Exit	PIEDMONT NATURAL GAS	$0	–	-9,550	–	-0.03%	–
YDKN	Exit	YADKIN FINANCIAL	$0	–	-21,600	–	-0.03%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-14,638	–	-0.03%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-7,510	–	-0.04%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-7,950	–	-0.04%	–
FLR	Exit	FLUOR	$0	–	-16,295	–	-0.04%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-6,995	–	-0.04%	–
INGR	Exit	INGREDION	$0	–	-6,500	–	-0.05%	–
CAT	Exit	CATERPILLAR	$0	–	-9,890	–	-0.05%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-11,341	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-15,145	–	-0.05%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-17,455	–	-0.05%	–
MO	Exit	ALTRIA GROUP	$0	–	-15,100	–	-0.05%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-7,850	–	-0.06%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-11,915	–	-0.06%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-7,485	–	-0.06%	–
BBT	Exit	BB&T	$0	–	-31,190	–	-0.06%	–
	Exit	ONEX CORP	$0	–	-18,000	–	-0.06%	–
IBM	Exit	IBM	$0	–	-7,605	–	-0.06%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-15,745	–	-0.06%	–
UN	Exit	UNILEVER N V - NEW YORK SHS AD	$0	–	-26,500	–	-0.06%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-23,499	–	-0.07%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-10,175	–	-0.07%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-16,648	–	-0.07%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-66,360	–	-0.08%	–
WELL	Exit	WELLTOWER INC	$0	–	-20,575	–	-0.08%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-21,065	–	-0.09%	–
KHC	Exit	KRAFT HEINZ	$0	–	-22,438	–	-0.11%	–
WY	Exit	WEYERHAEUSER	$0	–	-74,222	–	-0.13%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-183,695	–	-0.14%	–
PFE	Exit	PFIZER	$0	–	-81,735	–	-0.15%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-23,645	–	-0.18%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-62,152	–	-0.18%	–
EFX	Exit	EQUIFAX	$0	–	-26,916	–	-0.19%	–
MSFT	Exit	MICROSOFT	$0	–	-72,780	–	-0.22%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-63,972	–	-0.30%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE	$0	–	-73,657	–	-0.32%	–
BX	Exit	BLACKSTONE GROUP LPunt	$0	–	-240,570	–	-0.32%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS Lmlp	$0	–	-276,950	–	-0.40%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-250,225	–	-0.44%	–
BEP	Exit	BROOKFIELD RENEWABLE COMMON LPunt	$0	–	-271,095	–	-0.44%	–
KO	Exit	COCA-COLA	$0	–	-215,300	–	-0.48%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-100,000	–	-0.60%	–
TNH	Exit	TERRA NITROGEN CO LPunt	$0	–	-102,000	–	-0.61%	–
BCE	Exit	BCE (CA)	$0	–	-251,025	–	-0.61%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-294,670	–	-0.64%	–
HRC	Exit	HILL-ROM HOLDINGS	$0	–	-225,000	–	-0.74%	–
MLNX	Exit	MELLANOX TECHNOLOGIES (IS)	$0	–	-325,000	–	-0.74%	–
SIEGY	Exit	SIEMENS AG ADR (DE)	$0	–	-125,000	–	-0.78%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-329,525	–	-0.83%	–
HHC	Exit	HOWARD HUGHES CORP	$0	–	-140,000	–	-0.85%	–
XYL	Exit	XYLEM	$0	–	-319,600	–	-0.89%	–
TSE	Exit	TRINSEO S.A. (LU)	$0	–	-300,000	–	-0.90%	–
MET	Exit	METLIFE	$0	–	-386,330	–	-0.91%	–
BWA	Exit	BORG WARNER INC	$0	–	-493,735	–	-0.92%	–
DE	Exit	DEERE AND CO	$0	–	-208,425	–	-0.94%	–
OMC	Exit	OMNICOM GROUP	$0	–	-210,000	–	-0.95%	–
NOK	Exit	NOKIA (FI)	$0	–	-3,087,415	–	-0.95%	–
JKHY	Exit	JACK HENRY ASSOC	$0	–	-215,000	–	-0.98%	–
RHHBY	Exit	ROCHE HOLDING AG (SZ)	$0	–	-608,515	–	-1.00%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-557,924	–	-1.02%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-289,189	–	-1.03%	–
KR	Exit	KROGER	$0	–	-654,871	–	-1.03%	–
OLN	Exit	OLIN	$0	–	-948,465	–	-1.03%	–
HPQ	Exit	HP INC	$0	–	-1,268,145	–	-1.04%	–
SNA	Exit	SNAP-ON	$0	–	-134,060	–	-1.08%	–
HSIC	Exit	HENRY SCHEIN INC	$0	–	-126,625	–	-1.09%	–
WOOF	Exit	VCA INC	$0	–	-299,940	–	-1.11%	–
TTEK	Exit	TETRA TECH	$0	–	-600,145	–	-1.13%	–
ATI	Exit	ALLEGHENY TECH	$0	–	-1,210,945	–	-1.16%	–
UNP	Exit	UNION PACIFIC	$0	–	-227,581	–	-1.18%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-129,138	–	-1.20%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-358,570	–	-1.24%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-274,940	–	-1.26%	–
DD	Exit	DUPONT	$0	–	-365,073	–	-1.30%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-782,055	–	-1.31%	–
SWHC	Exit	SMITH & WESSON HOLDING CORP	$0	–	-956,900	–	-1.35%	–
VET	Exit	VERMILION ENERGY (CA)	$0	–	-657,570	–	-1.35%	–
COT	Exit	COTT CORP (CA)	$0	–	-1,800,000	–	-1.36%	–
AOS	Exit	A O SMITH	$0	–	-260,000	–	-1.36%	–
NWL	Exit	NEWELL BRANDS	$0	–	-522,585	–	-1.46%	–
XOM	Exit	EXXON MOBIL	$0	–	-322,208	–	-1.49%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-897,340	–	-1.50%	–
T	Exit	AT&T	$0	–	-703,528	–	-1.51%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-324,185	–	-1.52%	–
IP	Exit	INT'L PAPER	$0	–	-602,250	–	-1.53%	–
DIS	Exit	WALT DISNEY	$0	–	-312,437	–	-1.54%	–
AAPL	Exit	APPLE INC	$0	–	-257,834	–	-1.54%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-232,812	–	-1.56%	–
V	Exit	VISA	$0	–	-357,197	–	-1.56%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-657,128	–	-1.59%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-407,252	–	-1.60%	–
FMC	Exit	FMC CORP	$0	–	-628,450	–	-1.61%	–
HRS	Exit	HARRIS	$0	–	-332,455	–	-1.61%	–
BCR	Exit	C.R. BARD	$0	–	-138,949	–	-1.65%	–
HD	Exit	HOME DEPOT INC	$0	–	-244,659	–	-1.67%	–
SLW	Exit	SILVER WHEATON (CA)	$0	–	-1,171,195	–	-1.68%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-135,050	–	-1.72%	–
AVY	Exit	AVERY DENNISON	$0	–	-418,156	–	-1.72%	–
PEP	Exit	PEPSICO	$0	–	-304,551	–	-1.76%	–
MKC	Exit	MCCORMICK & CO	$0	–	-332,980	–	-1.76%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-315,588	–	-1.80%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-1,155,645	–	-1.81%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-218,439	–	-1.84%	–
GOOG	Exit	ALPHABET INC CLASS C	$0	–	-44,901	–	-1.85%	–
HON	Exit	HONEYWELL INT'L	$0	–	-321,570	–	-1.99%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-790,331	–	-2.01%	–
SPGI	Exit	S & P GLOBAL	$0	–	-318,363	–	-2.14%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-580,348	–	-2.16%	–
GLW	Exit	CORNING	$0	–	-1,722,627	–	-2.16%	–
MMM	Exit	3M COMPANY	$0	–	-231,370	–	-2.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-350,880	–	-2.20%	–

Q3 2016

			Value		Shares		↓ Weighting
JNJ	Sell	JOHNSON & JOHNSON	$41,449,000	-4.1%	350,880	-1.5%	2.20%	-6.1%
MMM	Sell	3M COMPANY	$40,774,000	-0.5%	231,370	-1.1%	2.16%	-2.6%
GLW	Sell	CORNING	$40,740,000	+12.7%	1,722,627	-2.4%	2.16%	+10.4%
TXN	Buy	TEXAS INSTRUMENTS	$40,729,000	+18.7%	580,348	+5.9%	2.16%	+16.2%
SPGI	Sell	S & P GLOBAL	$40,292,000	+11.6%	318,363	-5.4%	2.14%	+9.3%
CHD	Buy	CHURCH AND DWIGHT	$37,873,000	-8.5%	790,331	+96.5%	2.01%	-10.4%
HON	Sell	HONEYWELL INT'L	$37,492,000	-5.9%	321,570	-6.1%	1.99%	-7.8%
GOOG	Sell	ALPHABET INC CLASS C	$34,901,000	+10.0%	44,901	-2.1%	1.85%	+7.7%
TMO	Sell	THERMO FISHER SCIENTIFIC	$34,745,000	+5.3%	218,439	-2.2%	1.84%	+3.1%
GE	Sell	GENERAL ELECTRIC	$34,230,000	-9.7%	1,155,645	-4.0%	1.81%	-11.5%
TDY	Sell	TELEDYNE TECHNOLOGIES	$34,061,000	+6.8%	315,588	-2.0%	1.80%	+4.6%
MKC	Sell	MCCORMICK & CO	$33,271,000	-6.5%	332,980	-0.2%	1.76%	-8.5%
PEP	Sell	PEPSICO	$33,126,000	+0.5%	304,551	-2.1%	1.76%	-1.5%
AVY	Sell	AVERY DENNISON	$32,528,000	+0.6%	418,156	-3.4%	1.72%	-1.5%
LMT	Buy	LOCKHEED MARTIN	$32,374,000	-2.7%	135,050	+0.7%	1.72%	-4.7%
SLW	Sell	SILVER WHEATON (CA)	$31,657,000	+9.6%	1,171,195	-4.6%	1.68%	+7.3%
HD	Sell	HOME DEPOT INC	$31,483,000	-5.7%	244,659	-6.4%	1.67%	-7.6%
BCR	Sell	C.R. BARD	$31,163,000	-7.2%	138,949	-2.7%	1.65%	-9.1%
HRS	Sell	HARRIS	$30,456,000	+9.3%	332,455	-0.4%	1.61%	+7.1%
FMC	Buy	FMC CORP	$30,379,000	+13.6%	628,450	+8.9%	1.61%	+11.3%
CL	Buy	COLGATE PALMOLIVE	$30,194,000	+1.6%	407,252	+0.3%	1.60%	-0.5%
LEG	Sell	LEGGETT & PLATT	$29,952,000	-12.8%	657,128	-2.3%	1.59%	-14.6%
V	Sell	VISA	$29,540,000	+11.3%	357,197	-0.2%	1.56%	+9.0%
KMB	Sell	KIMBERLY-CLARK	$29,367,000	-16.5%	232,812	-9.0%	1.56%	-18.2%
AAPL	Sell	APPLE INC	$29,148,000	+17.5%	257,834	-0.6%	1.54%	+15.1%
DIS	Buy	WALT DISNEY	$29,013,000	-3.8%	312,437	+1.3%	1.54%	-5.8%
IP	Sell	INT'L PAPER	$28,896,000	+12.7%	602,250	-0.4%	1.53%	+10.4%
ADP	Sell	AUTOMATIC DATA PROCESSING	$28,593,000	-7.5%	324,185	-3.7%	1.52%	-9.4%
T	Buy	AT&T	$28,570,000	-5.8%	703,528	+0.2%	1.51%	-7.7%
SCHW	Sell	CHARLES SCHWAB CORP	$28,329,000	+21.9%	897,340	-2.3%	1.50%	+19.4%
XOM	Buy	EXXON MOBIL	$28,122,000	-6.6%	322,208	+0.4%	1.49%	-8.5%
NWL	Sell	NEWELL BRANDS	$27,519,000	+7.0%	522,585	-1.3%	1.46%	+4.7%
VET	Buy	VERMILION ENERGY (CA)	$25,474,000	+28.0%	657,570	+5.1%	1.35%	+25.3%
SWHC	Sell	SMITH & WESSON HOLDING CORP	$25,444,000	-5.3%	956,900	-3.2%	1.35%	-7.2%
CSCO	Sell	CISCO SYSTEMS	$24,807,000	+9.2%	782,055	-1.2%	1.31%	+6.9%
DD	Buy	DUPONT	$24,449,000	+182.7%	365,073	+173.6%	1.30%	+176.7%
MDT	Sell	MEDTRONIC PLC (IL)	$23,755,000	-0.5%	274,940	-0.1%	1.26%	-2.6%
CNI	Buy	CANADIAN NAT'L RWY ADR (CA)	$23,450,000	+11.2%	358,570	+0.4%	1.24%	+8.9%
UNP	Buy	UNION PACIFIC	$22,196,000	+12.7%	227,581	+0.8%	1.18%	+10.4%
ATI	Sell	ALLEGHENY TECH	$21,882,000	+38.0%	1,210,945	-2.6%	1.16%	+35.1%
TTEK	Sell	TETRA TECH	$21,287,000	+12.7%	600,145	-2.3%	1.13%	+10.4%
WOOF	Sell	VCA INC	$20,990,000	+0.7%	299,940	-2.7%	1.11%	-1.4%
HSIC	Buy	HENRY SCHEIN INC	$20,637,000	-6.9%	126,625	+1.0%	1.09%	-8.8%
SNA	Sell	SNAP-ON	$20,372,000	-14.0%	134,060	-10.7%	1.08%	-15.8%
HPQ	Buy	HP INC	$19,694,000	+42.7%	1,268,145	+15.3%	1.04%	+39.6%
OLN	Sell	OLIN	$19,463,000	-29.4%	948,465	-14.5%	1.03%	-30.9%
KR	Buy	KROGER	$19,437,000	-19.2%	654,871	+0.2%	1.03%	-20.8%
BIP	Buy	BROOKFIELD INFRASTRUCTURE PARTunt	$19,327,000	+15.0%	557,924	+50.2%	1.02%	+12.7%
RHHBY	Sell	ROCHE HOLDING AG (SZ)	$18,846,000	-7.0%	608,515	-1.1%	1.00%	-8.9%
NOK	Sell	NOKIA (FI)	$17,876,000	-4.9%	3,087,415	-6.5%	0.95%	-6.9%
DE	Buy	DEERE AND CO	$17,789,000	+9.8%	208,425	+4.3%	0.94%	+7.6%
BWA	New	BORG WARNER INC	$17,370,000	–	493,735	–	0.92%	–
MET	Buy	METLIFE	$17,165,000	+11.8%	386,330	+0.3%	0.91%	+9.5%
TSE	Sell	TRINSEO S.A. (LU)	$16,968,000	+12.9%	300,000	-14.3%	0.90%	+10.6%
XYL	Buy	XYLEM	$16,763,000	+3807.5%	319,600	+3229.2%	0.89%	+3760.9%
UL	Buy	UNILEVER PLC ADR (GB)	$15,619,000	-0.4%	329,525	+0.7%	0.83%	-2.4%
SIEGY	New	SIEMENS AG ADR (DE)	$14,665,000	–	125,000	–	0.78%	–
MLNX	Buy	MELLANOX TECHNOLOGIES (IS)	$14,056,000	+17.2%	325,000	+30.0%	0.74%	+14.8%
HRC	New	HILL-ROM HOLDINGS	$13,945,000	–	225,000	–	0.74%	–
PYPL	New	PAYPAL HOLDINGS	$12,073,000	–	294,670	–	0.64%	–
BCE	New	BCE (CA)	$11,592,000	–	251,025	–	0.61%	–
VMC	New	VULCAN MATERIALS	$11,373,000	–	100,000	–	0.60%	–
KO	Buy	COCA-COLA	$9,111,000	-6.2%	215,300	+0.5%	0.48%	-8.2%
BEP	Buy	BROOKFIELD RENEWABLE COMMON LPunt	$8,339,000	+7.2%	271,095	+3.8%	0.44%	+5.0%
EPD	Buy	ENTERPRISE PRODUCTS PARTNERS Lmlp	$7,652,000	-5.1%	276,950	+0.5%	0.40%	-7.1%
BX	Sell	BLACKSTONE GROUP LPunt	$6,142,000	+3.7%	240,570	-0.3%	0.32%	+1.6%
WBA	Buy	WALGREENS BOOTS ALLIANCE	$5,938,000	+0.9%	73,657	+4.3%	0.32%	-0.9%
PG	Buy	PROCTER & GAMBLE	$5,741,000	+9.8%	63,972	+3.6%	0.30%	+7.4%
MSFT	Sell	MICROSOFT	$4,192,000	+7.0%	72,780	-5.0%	0.22%	+4.7%
EFX	Sell	EQUIFAX	$3,622,000	+4.4%	26,916	-0.4%	0.19%	+2.1%
EMR	Buy	EMERSON ELECTRIC	$3,388,000	+14.4%	62,152	+9.4%	0.18%	+12.5%
IFF	Buy	INTL FLAVORS& FRAGRANCES	$3,381,000	+25.2%	23,645	+10.4%	0.18%	+22.6%
PFE	Buy	PFIZER	$2,768,000	+5.3%	81,735	+9.5%	0.15%	+3.5%
MFC	New	MANULIFE FINL CORP ADR (CA)	$2,592,000	–	183,695	–	0.14%	–
WY	Buy	WEYERHAEUSER	$2,371,000	+22.2%	74,222	+13.9%	0.13%	+20.0%
KHC	Sell	KRAFT HEINZ	$2,008,000	-11.2%	22,438	-12.1%	0.11%	-13.1%
ABB	Buy	ABB LTD ADR (SZ)	$1,494,000	+19.2%	66,360	+5.0%	0.08%	+16.2%
CHKP	Buy	CHECK POINT SOFTWARE TECH (IS)	$1,222,000	+6.4%	15,745	+9.2%	0.06%	+4.8%
IBM	Buy	IBM	$1,208,000	+27.3%	7,605	+21.6%	0.06%	+25.5%
BBT	Buy	BB&T	$1,176,000	+23.4%	31,190	+16.6%	0.06%	+19.2%
NSC	Buy	NORFOLK SOUTHERN	$1,156,000	+207.4%	11,915	+169.9%	0.06%	+205.0%
MO	New	ALTRIA GROUP	$955,000	–	15,100	–	0.05%	–
GILD	Buy	GILEAD SCIENCES	$897,000	-1.0%	11,341	+4.5%	0.05%	-2.0%
CAT	Buy	CATERPILLAR	$878,000	+24.0%	9,890	+5.9%	0.05%	+23.7%
INGR	Sell	INGREDION	$865,000	-0.2%	6,500	-3.0%	0.05%	-2.1%
NEE	Sell	NEXTERA ENERGY	$856,000	-22.7%	6,995	-17.7%	0.04%	-25.0%
UTX	Sell	UNITED TECHNOLOGIES	$808,000	-3.3%	7,950	-2.5%	0.04%	-4.4%
CVS	Buy	CVS HEALTH CORP	$668,000	+5.2%	7,510	+13.2%	0.04%	+2.9%
GSK	Buy	GLAXOSMITHKLINE PLC ADR (GB)	$631,000	+9.4%	14,638	+10.0%	0.03%	+6.5%
PNY	Buy	PIEDMONT NATURAL GAS	$573,000	+83.1%	9,550	+83.7%	0.03%	+76.5%
VZ	Buy	VERIZON COMMUNICATIONS	$408,000	+11.5%	7,854	+19.8%	0.02%	+10.0%
SJM	Sell	J M SMUCKER	$390,000	-98.0%	2,875	-97.8%	0.02%	-98.0%
DNB	Buy	DUN & BRADSTREET	$378,000	+26.0%	2,765	+12.2%	0.02%	+25.0%
ABT	New	ABBOTT LABORATORIES	$262,000	–	6,190	–	0.01%	–
ABBV	New	ABBVIE INC	$226,000	–	3,580	–	0.01%	–
K	New	KELLOGG	$217,000	–	2,800	–	0.01%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-10,052	–	-0.03%	–
HBI	Exit	HANESBRANDS	$0	–	-458,800	–	-0.62%	–
ROP	Exit	ROPER TECHNOLOGIES	$0	–	-88,600	–	-0.82%	–
USCR	Exit	U S CONCRETE	$0	–	-255,000	–	-0.84%	–
CTSH	Exit	COGNIZANT TECH SOL CL A	$0	–	-300,061	–	-0.93%	–
LUV	Exit	SOUTHWEST AIRLINES	$0	–	-500,420	–	-1.06%	–
CRAY	Exit	CRAY INC	$0	–	-673,895	–	-1.09%	–

Q2 2016

			Value		Shares		↓ Weighting
JNJ	New	JOHNSON & JOHNSON	$43,209,000	–	356,213	–	2.34%	–
CHD	New	CHURCH AND DWIGHT	$41,391,000	–	402,281	–	2.24%	–
MMM	New	3M COMPANY	$40,973,000	–	233,970	–	2.22%	–
HON	New	HONEYWELL INT'L	$39,837,000	–	342,475	–	2.16%	–
GE	New	GENERAL ELECTRIC	$37,893,000	–	1,203,706	–	2.05%	–
GLW	New	CORNING	$36,138,000	–	1,764,567	–	1.96%	–
SPGI	New	S & P GLOBAL	$36,105,000	–	336,613	–	1.95%	–
MKC	New	MCCORMICK & CO	$35,599,000	–	333,730	–	1.93%	–
KMB	New	KIMBERLY-CLARK	$35,165,000	–	255,785	–	1.90%	–
LEG	New	LEGGETT & PLATT	$34,365,000	–	672,378	–	1.86%	–
TXN	New	TEXAS INSTRUMENTS	$34,322,000	–	547,833	–	1.86%	–
BCR	New	C.R. BARD	$33,577,000	–	142,784	–	1.82%	–
HD	New	HOME DEPOT INC	$33,369,000	–	261,329	–	1.80%	–
LMT	New	LOCKHEED MARTIN	$33,281,000	–	134,105	–	1.80%	–
TMO	New	THERMO FISHER SCIENTIFIC	$32,996,000	–	223,309	–	1.78%	–
PEP	New	PEPSICO	$32,947,000	–	310,996	–	1.78%	–
AVY	New	AVERY DENNISON	$32,344,000	–	432,696	–	1.75%	–
TDY	New	TELEDYNE TECHNOLOGIES	$31,894,000	–	322,003	–	1.72%	–
GOOG	New	ALPHABET INC CLASS C	$31,737,000	–	45,856	–	1.72%	–
ADP	New	AUTOMATIC DATA PROCESSING	$30,915,000	–	336,510	–	1.67%	–
T	New	AT&T	$30,333,000	–	701,994	–	1.64%	–
DIS	New	WALT DISNEY	$30,173,000	–	308,457	–	1.63%	–
XOM	New	EXXON MOBIL	$30,094,000	–	321,039	–	1.63%	–
CL	New	COLGATE PALMOLIVE	$29,733,000	–	406,189	–	1.61%	–
SLW	New	SILVER WHEATON (CA)	$28,886,000	–	1,227,620	–	1.56%	–
HRS	New	HARRIS	$27,859,000	–	333,880	–	1.51%	–
OLN	New	OLIN	$27,557,000	–	1,109,370	–	1.49%	–
SWHC	New	SMITH & WESSON HOLDING CORP	$26,866,000	–	988,465	–	1.45%	–
FMC	New	FMC CORP	$26,735,000	–	577,303	–	1.45%	–
V	New	VISA	$26,547,000	–	357,926	–	1.44%	–
NWL	New	NEWELL RUBBERMAID	$25,726,000	–	529,665	–	1.39%	–
IP	New	INT'L PAPER	$25,637,000	–	604,925	–	1.39%	–
COT	New	COTT CORP (CA)	$25,128,000	–	1,800,000	–	1.36%	–
AAPL	New	APPLE INC	$24,797,000	–	259,384	–	1.34%	–
KR	New	KROGER	$24,048,000	–	653,666	–	1.30%	–
MDT	New	MEDTRONIC PLC (IL)	$23,876,000	–	275,165	–	1.29%	–
SNA	New	SNAP-ON	$23,689,000	–	150,100	–	1.28%	–
SCHW	New	CHARLES SCHWAB CORP	$23,241,000	–	918,255	–	1.26%	–
AOS	New	A O SMITH	$22,909,000	–	260,000	–	1.24%	–
CSCO	New	CISCO SYSTEMS	$22,715,000	–	791,735	–	1.23%	–
HSIC	New	HENRY SCHEIN INC	$22,157,000	–	125,325	–	1.20%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$21,088,000	–	357,065	–	1.14%	–
WOOF	New	VCA INC	$20,847,000	–	308,340	–	1.13%	–
RHHBY	New	ROCHE HOLDING AG (SZ)	$20,266,000	–	615,045	–	1.10%	–
CRAY	New	CRAY INC	$20,163,000	–	673,895	–	1.09%	–
VET	New	VERMILION ENERGY (CA)	$19,902,000	–	625,445	–	1.08%	–
MMC	New	MARSH & MCLENNAN	$19,798,000	–	289,189	–	1.07%	–
UNP	New	UNION PACIFIC	$19,695,000	–	225,736	–	1.06%	–
LUV	New	SOUTHWEST AIRLINES	$19,621,000	–	500,420	–	1.06%	–
FDX	New	FEDEX CORPORATION	$19,601,000	–	129,138	–	1.06%	–
SJM	New	J M SMUCKER	$19,497,000	–	127,925	–	1.06%	–
TTEK	New	TETRA TECH	$18,894,000	–	614,545	–	1.02%	–
NOK	New	NOKIA (FI)	$18,798,000	–	3,303,735	–	1.02%	–
JKHY	New	JACK HENRY ASSOC	$18,763,000	–	215,000	–	1.02%	–
CTSH	New	COGNIZANT TECH SOL CL A	$17,175,000	–	300,061	–	0.93%	–
OMC	New	OMNICOM GROUP	$17,113,000	–	210,000	–	0.93%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$16,810,000	–	371,400	–	0.91%	–
DE	New	DEERE AND CO	$16,202,000	–	199,925	–	0.88%	–
HHC	New	HOWARD HUGHES CORP	$16,005,000	–	140,000	–	0.87%	–
ATI	New	ALLEGHENY TECH	$15,858,000	–	1,243,745	–	0.86%	–
UL	New	UNILEVER PLC ADR (GB)	$15,675,000	–	327,170	–	0.85%	–
USCR	New	U S CONCRETE	$15,532,000	–	255,000	–	0.84%	–
MET	New	METLIFE	$15,348,000	–	385,330	–	0.83%	–
ROP	New	ROPER TECHNOLOGIES	$15,112,000	–	88,600	–	0.82%	–
TSE	New	TRINSEO S.A. (LU)	$15,025,000	–	350,000	–	0.81%	–
HPQ	New	HP INC	$13,805,000	–	1,100,000	–	0.75%	–
MLNX	New	MELLANOX TECHNOLOGIES (IS)	$11,990,000	–	250,000	–	0.65%	–
HBI	New	HANESBRANDS	$11,530,000	–	458,800	–	0.62%	–
TNH	New	TERRA NITROGEN CO LPunt	$10,666,000	–	102,000	–	0.58%	–
KO	New	COCA-COLA	$9,714,000	–	214,300	–	0.53%	–
DD	New	DUPONT	$8,647,000	–	133,448	–	0.47%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$8,358,000	–	250,225	–	0.45%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS Lmlp	$8,060,000	–	275,450	–	0.44%	–
BEP	New	BROOKFIELD RENEWABLE COMMON LPunt	$7,778,000	–	261,095	–	0.42%	–
BX	New	BLACKSTONE GROUP LPunt	$5,922,000	–	241,320	–	0.32%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$5,883,000	–	70,647	–	0.32%	–
PG	New	PROCTER & GAMBLE	$5,227,000	–	61,739	–	0.28%	–
MSFT	New	MICROSOFT	$3,919,000	–	76,595	–	0.21%	–
EFX	New	EQUIFAX	$3,469,000	–	27,016	–	0.19%	–
EMR	New	EMERSON ELECTRIC	$2,962,000	–	56,792	–	0.16%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$2,700,000	–	21,420	–	0.15%	–
PFE	New	PFIZER	$2,628,000	–	74,635	–	0.14%	–
KHC	New	KRAFT HEINZ	$2,260,000	–	25,538	–	0.12%	–
WY	New	WEYERHAEUSER	$1,940,000	–	65,182	–	0.10%	–
NSRGY	New	NESTLE SA ADR (SZ)	$1,629,000	–	21,065	–	0.09%	–
WELL	New	WELLTOWER INC	$1,567,000	–	20,575	–	0.08%	–
DUK	New	DUKE ENERGY CORP NEW	$1,428,000	–	16,648	–	0.08%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,284,000	–	17,455	–	0.07%	–
ABB	New	ABB LTD ADR (SZ)	$1,253,000	–	63,180	–	0.07%	–
UN	New	UNILEVER N V - NEW YORK SHS AD	$1,244,000	–	26,500	–	0.07%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,137,000	–	7,850	–	0.06%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$1,152,000	–	23,499	–	0.06%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$1,149,000	–	14,420	–	0.06%	–
	New	ONEX CORP	$1,100,000	–	18,000	–	0.06%	–
NEE	New	NEXTERA ENERGY	$1,108,000	–	8,495	–	0.06%	–
PH	New	PARKER-HANNIFIN	$1,099,000	–	10,175	–	0.06%	–
BBT	New	BB&T	$953,000	–	26,750	–	0.05%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$964,000	–	7,485	–	0.05%	–
IBM	New	IBM	$949,000	–	6,255	–	0.05%	–
GILD	New	GILEAD SCIENCES	$906,000	–	10,856	–	0.05%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$895,000	–	15,145	–	0.05%	–
INGR	New	INGREDION	$867,000	–	6,700	–	0.05%	–
UTX	New	UNITED TECHNOLOGIES	$836,000	–	8,150	–	0.04%	–
FLR	New	FLUOR	$803,000	–	16,295	–	0.04%	–
CAT	New	CATERPILLAR	$708,000	–	9,340	–	0.04%	–
CVS	New	CVS HEALTH CORP	$635,000	–	6,635	–	0.03%	–
CPB	New	CAMPBELL SOUP	$605,000	–	9,100	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$577,000	–	13,305	–	0.03%	–
YDKN	New	YADKIN FINANCIAL	$542,000	–	21,600	–	0.03%	–
ROK	New	ROCKWELL AUTOMATION	$525,000	–	4,575	–	0.03%	–
WFC	New	WELLS FARGO & CO NEW	$476,000	–	10,052	–	0.03%	–
XYL	New	XYLEM	$429,000	–	9,600	–	0.02%	–
DISCK	New	DISCOVERY COMMUNICATIONS SER C	$429,000	–	18,000	–	0.02%	–
CVX	New	CHEVRON CORPORATION	$390,000	–	3,725	–	0.02%	–
VZ	New	VERIZON COMMUNICATIONS	$366,000	–	6,554	–	0.02%	–
NSC	New	NORFOLK SOUTHERN	$376,000	–	4,415	–	0.02%	–
PNR	New	PENTAIR PLC (IL)	$306,000	–	5,250	–	0.02%	–
	New	LEUCADIA NAT'L CORP	$307,000	–	17,700	–	0.02%	–
PNY	New	PIEDMONT NATURAL GAS	$313,000	–	5,200	–	0.02%	–
Y	New	ALLEGHANY CORP	$308,000	–	561	–	0.02%	–
BG	New	BUNGE LTD ADR (BM)	$293,000	–	4,955	–	0.02%	–
AXP	New	AMERICAN EXPRESS	$298,000	–	4,900	–	0.02%	–
DNB	New	DUN & BRADSTREET	$300,000	–	2,465	–	0.02%	–
MTX	New	MINERALS TECHNOLOGIES	$284,000	–	5,000	–	0.02%	–
MRK	New	MERCK & CO INC NEW	$261,000	–	4,539	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$214,000	–	4,710	–	0.01%	–
AMBA	New	AMBARELLA (CI)	$229,000	–	4,500	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
SUNEQ	Exit	SUNEDISON	$0	–	-24,000	–	-0.01%	–
NOK	Exit	NOKIA	$0	–	-31,000	–	-0.01%	–
BTTGY	Exit	BT GROUP PLC ADR (GB)	$0	–	-3,500	–	-0.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,070	–	-0.01%	–
EMC	Exit	EMC CORP	$0	–	-9,275	–	-0.01%	–
MTX	Exit	MINERALS TECHNOLOGIES	$0	–	-5,000	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-5,734	–	-0.01%	–
Y	Exit	ALLEGHANY CORP	$0	–	-561	–	-0.02%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-6,440	–	-0.02%	–
TRP	Exit	TRANSCANADA CORP ADR (CA)	$0	–	-9,455	–	-0.02%	–
XYL	Exit	XYLEM	$0	–	-9,600	–	-0.02%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-6,561	–	-0.02%	–
	Exit	LEUCADIA NAT'L CORP	$0	–	-17,700	–	-0.02%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-8,210	–	-0.02%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-5,000	–	-0.02%	–
NBBC	Exit	NEWBRIDGE BANCORP	$0	–	-43,200	–	-0.02%	–
BG	Exit	BUNGE LTD ADR (BM)	$0	–	-5,105	–	-0.02%	–
GBX	Exit	THE GREENBRIER COMPANIES	$0	–	-13,300	–	-0.02%	–
PNY	Exit	PIEDMONT NATURAL GAS	$0	–	-11,800	–	-0.03%	–
SNA	Exit	SNAP-ON	$0	–	-3,200	–	-0.03%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR (GB)	$0	–	-13,660	–	-0.03%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-10,001	–	-0.03%	–
CPB	Exit	CAMPBELL SOUP	$0	–	-10,750	–	-0.03%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-23,295	–	-0.04%	–
LOW	Exit	LOWES COMPANIES INC	$0	–	-9,900	–	-0.04%	–
FLR	Exit	FLUOR	$0	–	-16,115	–	-0.04%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-7,085	–	-0.04%	–
INGR	Exit	INGREDION	$0	–	-8,300	–	-0.04%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-8,450	–	-0.04%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-14,527	–	-0.05%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-7,850	–	-0.06%	–
UN	Exit	UNILEVER N V - NEW YORK SHS AD	$0	–	-26,300	–	-0.06%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-10,987	–	-0.06%	–
MFC	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-72,585	–	-0.06%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-18,955	–	-0.06%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-16,009	–	-0.07%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-12,010	–	-0.07%	–
	Exit	ONEX CORP	$0	–	-21,200	–	-0.07%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-8,585	–	-0.07%	–
BBT	Exit	BB&T	$0	–	-34,692	–	-0.07%	–
KMI	Exit	KINDER MORGAN	$0	–	-45,391	–	-0.07%	–
SKM	Exit	S K TELECOM LTD ADR (KO)	$0	–	-51,665	–	-0.07%	–
WELL	Exit	WELLTOWER INC	$0	–	-19,955	–	-0.08%	–
FMC	Exit	FMC CORP	$0	–	-41,976	–	-0.08%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-20,785	–	-0.09%	–
PCL	Exit	PLUM CREEK TIMBER	$0	–	-40,170	–	-0.09%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC ADR A (N	$0	–	-36,235	–	-0.10%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-42,321	–	-0.11%	–
CAT	Exit	CATERPILLAR	$0	–	-30,485	–	-0.12%	–
KHC	Exit	KRAFT HEINZ	$0	–	-28,949	–	-0.12%	–
MSFT	Exit	MICROSOFT	$0	–	-50,340	–	-0.13%	–
PFE	Exit	PFIZER	$0	–	-81,485	–	-0.15%	–
EFX	Exit	EQUIFAX	$0	–	-27,916	–	-0.16%	–
ABB	Exit	ABB LTD ADR (SZ)	$0	–	-162,470	–	-0.16%	–
BPT	Exit	BP PRUDHOE BAY ROYALTY TRUSTunt	$0	–	-93,000	–	-0.22%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-89,697	–	-0.23%	–
BEP	Exit	BROOKFIELD RENEWABLE COMMON LPunt	$0	–	-148,695	–	-0.24%	–
ARLP	Exit	ALLIANCE RESOURCE PARTNERS LPmlp	$0	–	-213,000	–	-0.27%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-66,947	–	-0.28%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS SER C	$0	–	-218,000	–	-0.30%	–
DISCA	Exit	DISCOVERY COMMUNICATIONS	$0	–	-206,211	–	-0.31%	–
EPD	Exit	ENTERPRISE PRODUCTS PARTNERS Lmlp	$0	–	-226,350	–	-0.32%	–
SJM	Exit	J M SMUCKER	$0	–	-52,925	–	-0.35%	–
DD	Exit	DUPONT	$0	–	-150,403	–	-0.42%	–
TGP	Exit	TEEKAY LNG PARTNERS LP (MI)unt	$0	–	-306,600	–	-0.42%	–
KO	Exit	COCA-COLA	$0	–	-213,400	–	-0.49%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-261,945	–	-0.62%	–
DE	Exit	DEERE AND CO	$0	–	-147,546	–	-0.63%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-334,775	–	-0.63%	–
ERIC	Exit	LM ERICSSON TELEPHONE ADR (SE)	$0	–	-1,171,300	–	-0.66%	–
HHC	Exit	HOWARD HUGHES CORP	$0	–	-100,000	–	-0.66%	–
TSE	Exit	TRINSEO S.A. (LU)	$0	–	-456,485	–	-0.66%	–
SWHC	Exit	SMITH & WESSON HOLDING CORP	$0	–	-700,000	–	-0.68%	–
PUK	Exit	PRUDENTIAL PLC (GB)	$0	–	-285,000	–	-0.69%	–
BCE	Exit	BCE (CA)	$0	–	-318,223	–	-0.75%	–
RHHBY	Exit	ROCHE HOLDING AG (SZ)	$0	–	-400,300	–	-0.76%	–
IBM	Exit	IBM	$0	–	-93,635	–	-0.78%	–
CRAY	Exit	CRAY INC	$0	–	-694,390	–	-0.79%	–
RH	Exit	RESTORATION HARDWARE	$0	–	-160,000	–	-0.86%	–
MET	Exit	METLIFE	$0	–	-317,375	–	-0.86%	–
PNR	Exit	PENTAIR PLC (IL)	$0	–	-298,270	–	-0.88%	–
AOS	Exit	A O SMITH	$0	–	-235,000	–	-0.88%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-205,416	–	-0.89%	–
OMC	Exit	OMNICOM GROUP	$0	–	-239,200	–	-0.91%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-111,579	–	-0.92%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-313,764	–	-0.94%	–
LYB	Exit	LYONDELLBASELL INDS NV (NE)	$0	–	-196,800	–	-0.94%	–
DNB	Exit	DUN & BRADSTREET	$0	–	-157,825	–	-0.95%	–
CERN	Exit	CERNER	$0	–	-276,400	–	-0.95%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-460,300	–	-0.97%	–
AVGO	Exit	AVAGO TECHNOLOGIES (HK)	$0	–	-136,000	–	-0.98%	–
VET	Exit	VERMILION ENERGY (CA)	$0	–	-535,735	–	-0.99%	–
ICLR	Exit	ICON PLC (IL)	$0	–	-246,870	–	-1.01%	–
TNH	Exit	TERRA NITROGEN CO LPunt	$0	–	-166,000	–	-1.03%	–
WAB	Exit	WABTEC	$0	–	-205,335	–	-1.04%	–
T	Exit	AT&T	$0	–	-561,790	–	-1.05%	–
MDT	Exit	MEDTRONIC PLC (IL)	$0	–	-276,001	–	-1.06%	–
CTSH	Exit	COGNIZANT TECH SOL CL A	$0	–	-300,061	–	-1.08%	–
UNP	Exit	UNION PACIFIC	$0	–	-223,524	–	-1.14%	–
AVY	Exit	AVERY DENNISON	$0	–	-353,041	–	-1.15%	–
COL	Exit	ROCKWELL COLLINS	$0	–	-246,305	–	-1.16%	–
XOM	Exit	EXXON MOBIL	$0	–	-272,964	–	-1.17%	–
COT	Exit	COTT CORP (CA)	$0	–	-1,880,000	–	-1.17%	–
IP	Exit	INT'L PAPER	$0	–	-557,863	–	-1.21%	–
MCK	Exit	MCKESSON CORP	$0	–	-115,855	–	-1.23%	–
WOOF	Exit	VCA INC	$0	–	-413,575	–	-1.25%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH (IS)	$0	–	-280,413	–	-1.28%	–
SCHW	Exit	SCHWAB CHARLES CP NEW COM	$0	–	-802,120	–	-1.32%	–
MTSC	Exit	MTS SYSTEMS	$0	–	-386,489	–	-1.34%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-238,404	–	-1.35%	–
HRS	Exit	HARRIS	$0	–	-321,263	–	-1.35%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-230,576	–	-1.37%	–
GLW	Exit	CORNING	$0	–	-1,394,390	–	-1.37%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-219,172	–	-1.38%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-425,575	–	-1.39%	–
TXT	Exit	TEXTRON INC	$0	–	-653,867	–	-1.42%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-984,547	–	-1.43%	–
MHFI	Exit	MCGRAW-HILL FINANCIAL	$0	–	-289,188	–	-1.44%	–
GOOG	Exit	GOOGLE INC CLASS C	$0	–	-41,521	–	-1.45%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-123,265	–	-1.47%	–
NVS	Exit	NOVARTIS AG ADS (SZ)	$0	–	-287,845	–	-1.52%	–
KR	Exit	KROGER	$0	–	-736,256	–	-1.53%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-537,710	–	-1.53%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-334,750	–	-1.55%	–
V	Exit	VISA	$0	–	-388,256	–	-1.56%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-663,158	–	-1.57%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-311,050	–	-1.62%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-233,390	–	-1.64%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-318,899	–	-1.71%	–
BCR	Exit	C.R. BARD	$0	–	-163,504	–	-1.75%	–
MKC	Exit	MCCORMICK & CO	$0	–	-373,283	–	-1.76%	–
HBI	Exit	HANESBRANDS	$0	–	-1,087,603	–	-1.81%	–
HON	Exit	HONEYWELL INT'L	$0	–	-337,355	–	-1.84%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE	$0	–	-388,962	–	-1.86%	–
HD	Exit	HOME DEPOT INC	$0	–	-282,178	–	-1.88%	–
AAPL	Exit	APPLE INC	$0	–	-297,225	–	-1.89%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-518,015	–	-1.89%	–
MMM	Exit	3M COMPANY	$0	–	-241,570	–	-1.97%	–
PEP	Exit	PEPSICO	$0	–	-364,799	–	-1.98%	–
DIS	Exit	WALT DISNEY	$0	–	-338,247	–	-1.99%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-421,978	–	-2.04%	–

Q3 2015

			Value		Shares		↓ Weighting
CHD	Sell	CHURCH AND DWIGHT	$35,404,000	-0.5%	421,978	-3.8%	2.04%	+15.2%
DIS	Sell	WALT DISNEY	$34,569,000	-13.3%	338,247	-3.2%	1.99%	+0.4%
PEP	Sell	PEPSICO	$34,401,000	-3.0%	364,799	-4.0%	1.98%	+12.3%
MMM	Sell	3M COMPANY	$34,247,000	-10.7%	241,570	-2.8%	1.97%	+3.4%
CL	Sell	COLGATE PALMOLIVE	$32,873,000	-5.0%	518,015	-2.0%	1.89%	+10.0%
AAPL	Sell	APPLE INC	$32,784,000	-13.5%	297,225	-1.7%	1.89%	+0.1%
HD	Sell	HOME DEPOT INC	$32,589,000	+2.1%	282,178	-1.7%	1.88%	+18.2%
WBA	Buy	WALGREENS BOOTS ALLIANCE	$32,323,000	+8.0%	388,962	+9.7%	1.86%	+25.0%
HON	Buy	HONEYWELL INT'L	$31,944,000	+0.8%	337,355	+8.6%	1.84%	+16.7%
HBI	Buy	HANESBRANDS	$31,475,000	-1.7%	1,087,603	+13.2%	1.81%	+13.8%
MKC	Sell	MCCORMICK & CO	$30,676,000	-0.1%	373,283	-1.6%	1.76%	+15.7%
BCR	Sell	C.R. BARD	$30,462,000	+4.8%	163,504	-4.0%	1.75%	+21.3%
JNJ	Buy	JOHNSON & JOHNSON	$29,769,000	-2.3%	318,899	+2.0%	1.71%	+13.1%
TMO	Buy	THERMO FISHER SCIENTIFIC	$28,539,000	+81.8%	233,390	+92.9%	1.64%	+110.5%
TDY	Sell	TELEDYNE TECHNOLOGIES	$28,088,000	-16.2%	311,050	-2.0%	1.62%	-2.9%
LEG	Sell	LEGGETT & PLATT	$27,355,000	-16.1%	663,158	-1.0%	1.57%	-2.8%
V	Sell	VISA	$27,046,000	+3.7%	388,256	-0.0%	1.56%	+20.1%
ADP	Buy	AUTOMATIC DATA PROCESSING	$26,901,000	+47.8%	334,750	+47.5%	1.55%	+71.0%
TXN	Sell	TEXAS INSTRUMENTS	$26,627,000	-14.0%	537,710	-10.5%	1.53%	-0.5%
KR	Buy	KROGER	$26,557,000	-4.9%	736,256	+91.1%	1.53%	+10.1%
NVS	Sell	NOVARTIS AG ADS (SZ)	$26,459,000	-20.6%	287,845	-15.1%	1.52%	-8.1%
LMT	New	LOCKHEED MARTIN	$25,554,000	–	123,265	–	1.47%	–
GOOG	New	GOOGLE INC CLASS C	$25,262,000	–	41,521	–	1.45%	–
MHFI	Buy	MCGRAW-HILL FINANCIAL	$25,015,000	-2.9%	289,188	+12.8%	1.44%	+12.4%
GE	Buy	GENERAL ELECTRIC	$24,830,000	+34.1%	984,547	+41.3%	1.43%	+55.3%
TXT	Buy	TEXTRON INC	$24,612,000	+26.4%	653,867	+49.9%	1.42%	+46.3%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$24,156,000	-7.8%	425,575	-6.2%	1.39%	+6.8%
KMB	Sell	KIMBERLY-CLARK	$23,899,000	+1.1%	219,172	-1.8%	1.38%	+17.0%
GLW	Sell	CORNING	$23,872,000	-20.1%	1,394,390	-8.0%	1.37%	-7.6%
IFF	Buy	INTL FLAVORS& FRAGRANCES	$23,809,000	-1.7%	230,576	+4.1%	1.37%	+13.9%
HRS	Buy	HARRIS	$23,500,000	+9.2%	321,263	+14.9%	1.35%	+26.5%
GILD	Sell	GILEAD SCIENCES	$23,409,000	-23.3%	238,404	-8.5%	1.35%	-11.2%
MTSC	Buy	MTS SYSTEMS	$23,232,000	-8.3%	386,489	+5.2%	1.34%	+6.2%
SCHW	New	SCHWAB CHARLES CP NEW COM	$22,909,000	–	802,120	–	1.32%	–
CHKP	Buy	CHECK POINT SOFTWARE TECH (IS)	$22,245,000	+2.1%	280,413	+2.4%	1.28%	+18.2%
WOOF	New	VCA INC	$21,775,000	–	413,575	–	1.25%	–
MCK	Buy	MCKESSON CORP	$21,437,000	-8.9%	115,855	+10.6%	1.23%	+5.4%
IP	Sell	INT'L PAPER	$21,082,000	-31.2%	557,863	-13.4%	1.21%	-20.4%
COT	Sell	COTT CORP (CA)	$20,360,000	+7.3%	1,880,000	-3.1%	1.17%	+24.2%
XOM	Buy	EXXON MOBIL	$20,295,000	+6.6%	272,964	+19.3%	1.17%	+23.5%
COL	Buy	ROCKWELL COLLINS	$20,158,000	+55.9%	246,305	+75.9%	1.16%	+80.4%
AVY	Sell	AVERY DENNISON	$19,972,000	-29.2%	353,041	-23.8%	1.15%	-18.1%
UNP	Sell	UNION PACIFIC	$19,762,000	-15.4%	223,524	-8.8%	1.14%	-2.1%
CTSH	Buy	COGNIZANT TECH SOL CL A	$18,787,000	+11.8%	300,061	+9.1%	1.08%	+29.5%
MDT	Sell	MEDTRONIC PLC (IL)	$18,476,000	-9.7%	276,001	-0.0%	1.06%	+4.5%
T	Buy	AT&T	$18,303,000	+4.4%	561,790	+13.8%	1.05%	+20.9%
WAB	New	WABTEC	$18,080,000	–	205,335	–	1.04%	–
TNH	Sell	TERRA NITROGEN CO LPunt	$17,910,000	-11.9%	166,000	-1.1%	1.03%	+2.0%
ICLR	Buy	ICON PLC (IL)	$17,520,000	+53.1%	246,870	+45.2%	1.01%	+77.2%
VET	Buy	VERMILION ENERGY (CA)	$17,224,000	-2.5%	535,735	+31.0%	0.99%	+12.9%
BIP	Sell	BROOKFIELD INFRASTRUCTURE PARTunt	$16,925,000	-20.0%	460,300	-2.9%	0.97%	-7.4%
CERN	Sell	CERNER	$16,573,000	-15.9%	276,400	-3.2%	0.95%	-2.7%
DNB	Sell	DUN & BRADSTREET	$16,572,000	-37.6%	157,825	-27.5%	0.95%	-27.7%
LYB	New	LYONDELLBASELL INDS NV (NE)	$16,405,000	–	196,800	–	0.94%	–
MMC	Sell	MARSH & MCLENNAN	$16,385,000	-25.0%	313,764	-18.6%	0.94%	-13.2%
FDX	Sell	FEDEX CORPORATION	$16,065,000	-41.4%	111,579	-30.6%	0.92%	-32.2%
OMC	Sell	OMNICOM GROUP	$15,763,000	-6.7%	239,200	-1.6%	0.91%	+8.0%
NSRGY	Sell	NESTLE SA ADR (SZ)	$15,455,000	-26.5%	205,416	-29.5%	0.89%	-14.9%
AOS	New	A O SMITH	$15,320,000	–	235,000	–	0.88%	–
PNR	Buy	PENTAIR PLC (IL)	$15,224,000	-1.8%	298,270	+32.2%	0.88%	+13.6%
MET	Sell	METLIFE	$14,964,000	-24.0%	317,375	-9.8%	0.86%	-12.1%
CRAY	Buy	CRAY INC	$13,756,000	+52.6%	694,390	+127.3%	0.79%	+76.6%
IBM	Sell	IBM	$13,574,000	-20.7%	93,635	-11.0%	0.78%	-8.2%
RHHBY	New	ROCHE HOLDING AG (SZ)	$13,190,000	–	400,300	–	0.76%	–
BCE	Sell	BCE (CA)	$13,034,000	-25.2%	318,223	-22.4%	0.75%	-13.4%
PUK	Buy	PRUDENTIAL PLC (GB)	$12,010,000	+3.1%	285,000	+18.8%	0.69%	+19.3%
SWHC	New	SMITH & WESSON HOLDING CORP	$11,809,000	–	700,000	–	0.68%	–
TSE	New	TRINSEO S.A. (LU)	$11,526,000	–	456,485	–	0.66%	–
ERIC	New	LM ERICSSON TELEPHONE ADR (SE)	$11,455,000	–	1,171,300	–	0.66%	–
SPH	Sell	SUBURBAN PROPANE PARTNERS LPmlp	$11,004,000	-18.2%	334,775	-0.8%	0.63%	-5.4%
DE	Sell	DEERE AND CO	$10,918,000	-31.4%	147,546	-10.1%	0.63%	-20.6%
UL	Buy	UNILEVER PLC ADR (GB)	$10,682,000	+804.5%	261,945	+852.7%	0.62%	+942.4%
KO	Sell	COCA-COLA	$8,562,000	-17.1%	213,400	-19.0%	0.49%	-4.1%
TGP	Sell	TEEKAY LNG PARTNERS LP (MI)unt	$7,334,000	-26.3%	306,600	-0.7%	0.42%	-14.6%
DD	Sell	DUPONT	$7,249,000	-72.5%	150,403	-63.6%	0.42%	-68.2%
SJM	New	J M SMUCKER	$6,038,000	–	52,925	–	0.35%	–
EPD	Buy	ENTERPRISE PRODUCTS PARTNERS Lmlp	$5,636,000	+498.3%	226,350	+618.6%	0.32%	+589.4%
DISCA	Sell	DISCOVERY COMMUNICATIONS	$5,368,000	-34.4%	206,211	-16.2%	0.31%	-24.1%
DISCK	Sell	DISCOVERY COMMUNICATIONS SER C	$5,295,000	-34.0%	218,000	-15.5%	0.30%	-23.6%
PG	Sell	PROCTER & GAMBLE	$4,816,000	-76.4%	66,947	-74.3%	0.28%	-72.7%
ARLP	Sell	ALLIANCE RESOURCE PARTNERS LPmlp	$4,741,000	-17.4%	213,000	-7.4%	0.27%	-4.2%
BEP	Buy	BROOKFIELD RENEWABLE COMMON LPunt	$4,088,000	+24.7%	148,695	+34.6%	0.24%	+44.2%
EMR	Sell	EMERSON ELECTRIC	$3,962,000	-85.3%	89,697	-81.5%	0.23%	-82.9%
BPT	Sell	BP PRUDHOE BAY ROYALTY TRUSTunt	$3,821,000	-38.1%	93,000	-7.0%	0.22%	-28.3%
ABB	Sell	ABB LTD ADR (SZ)	$2,871,000	-84.5%	162,470	-81.6%	0.16%	-82.0%
EFX	Sell	EQUIFAX	$2,713,000	-3.3%	27,916	-3.4%	0.16%	+12.2%
PFE	Buy	PFIZER	$2,559,000	-5.8%	81,485	+0.6%	0.15%	+8.9%
MSFT	Buy	MICROSOFT	$2,228,000	+6.1%	50,340	+5.9%	0.13%	+23.1%
KHC	New	KRAFT HEINZ	$2,043,000	–	28,949	–	0.12%	–
CAT	Sell	CATERPILLAR	$1,992,000	-87.9%	30,485	-84.3%	0.12%	-85.9%
BNS	Sell	BANK OF NOVA SCOTIA ADR (CA)	$1,866,000	-91.7%	42,321	-90.2%	0.11%	-90.4%
RDSA	Sell	ROYAL DUTCH SHELL PLC ADR A (N	$1,717,000	-29.0%	36,235	-14.6%	0.10%	-17.5%
NSC	Sell	NORFOLK SOUTHERN	$1,588,000	-14.7%	20,785	-2.5%	0.09%	-2.2%
PCL	Sell	PLUM CREEK TIMBER	$1,587,000	-7.1%	40,170	-4.6%	0.09%	+7.1%
FMC	Sell	FMC CORP	$1,423,000	-47.1%	41,976	-17.9%	0.08%	-38.8%
WELL	New	WELLTOWER INC	$1,351,000	–	19,955	–	0.08%	–
SKM	Sell	S K TELECOM LTD ADR (KO)	$1,261,000	-93.3%	51,665	-93.2%	0.07%	-92.2%
KMI	Sell	KINDER MORGAN	$1,256,000	-93.7%	45,391	-91.3%	0.07%	-92.8%
DUK	Buy	DUKE ENERGY CORP NEW	$1,152,000	+12.2%	16,009	+10.1%	0.07%	+29.4%
MFC	Sell	MANULIFE FINL CORP ADR (CA)	$1,124,000	-95.4%	72,585	-94.5%	0.06%	-94.7%
UN	New	UNILEVER N V - NEW YORK SHS AD	$1,057,000	–	26,300	–	0.06%	–
UTX	Sell	UNITED TECHNOLOGIES	$752,000	-41.1%	8,450	-26.5%	0.04%	-31.7%
FLR	Sell	FLUOR	$682,000	-21.6%	16,115	-1.8%	0.04%	-9.3%
CSCO	Buy	CISCO SYSTEMS	$611,000	+0.8%	23,295	+5.6%	0.04%	+16.7%
WFC	Buy	WELLS FARGO & CO NEW	$514,000	-6.7%	10,001	+2.0%	0.03%	+11.1%
GSK	Sell	GLAXOSMITHKLINE PLC ADR (GB)	$525,000	-11.6%	13,660	-4.2%	0.03%	0.0%
GBX	Sell	THE GREENBRIER COMPANIES	$427,000	-98.1%	13,300	-97.2%	0.02%	-97.7%
BG	Sell	BUNGE LTD ADR (BM)	$374,000	-41.7%	5,105	-30.1%	0.02%	-31.2%
VZ	Buy	VERIZON COMMUNICATIONS	$357,000	+24.4%	8,210	+33.5%	0.02%	+50.0%
MRK	Buy	MERCK & CO INC NEW	$324,000	+44.0%	6,561	+65.8%	0.02%	+72.7%
XYL	Sell	XYLEM	$315,000	-98.1%	9,600	-97.9%	0.02%	-97.9%
TRP	Sell	TRANSCANADA CORP ADR (CA)	$299,000	-97.7%	9,455	-97.1%	0.02%	-97.4%
MDLZ	Buy	MONDELEZ INTERNATIONAL	$240,000	+6.2%	5,734	+4.3%	0.01%	+27.3%
EMC	Sell	EMC CORP	$224,000	-30.9%	9,275	-24.4%	0.01%	-18.8%
NOK	Sell	NOKIA	$210,000	-64.3%	31,000	-64.0%	0.01%	-58.6%
SUNEQ	Sell	SUNEDISON	$172,000	-99.4%	24,000	-97.7%	0.01%	-99.3%
CMI	Exit	CUMMINS INC	$0	–	-1,600	–	-0.01%	–
PLL	Exit	PALL	$0	–	-1,800	–	-0.01%	–
POT	Exit	POTASH CORP SASK INC COM	$0	–	-7,540	–	-0.01%	–
WY	Exit	WEYERHAEUSER	$0	–	-8,425	–	-0.01%	–
RIO	Exit	RIO TINTO PLC SPON ADR (GB)	$0	–	-8,100	–	-0.02%	–
DRC	Exit	DRESSER-RAND GROUP	$0	–	-4,300	–	-0.02%	–
SFG	Exit	STANCORP FINANCIAL GROUP	$0	–	-6,500	–	-0.02%	–
BASFY	Exit	BASF ADR (DE)	$0	–	-6,300	–	-0.03%	–
HCN	Exit	HEALTH CARE REIT	$0	–	-13,530	–	-0.04%	–
	Exit	SUNCOR ENERGY (CA)	$0	–	-37,000	–	-0.05%	–
KRFT	Exit	KRAFT FOODS GROUP	$0	–	-32,049	–	-0.14%	–
CTTAY	Exit	CONTINENTAL AG ADR (DE)	$0	–	-192,000	–	-0.46%	–
CNQ	Exit	CANADIAN NATURAL RESOURCES ADR	$0	–	-398,840	–	-0.54%	–
AKZOY	Exit	AKZO NOBEL NV ADR (NE)	$0	–	-500,000	–	-0.60%	–
BHP	Exit	BHP BILLITON LTD ADR (AU)	$0	–	-338,152	–	-0.68%	–
IVZ	Exit	INVESCO LTD (BM)	$0	–	-390,500	–	-0.73%	–
ACM	Exit	AECOM	$0	–	-461,238	–	-0.76%	–
DCI	Exit	DONALDSON	$0	–	-473,000	–	-0.84%	–
BDC	Exit	BELDEN	$0	–	-214,600	–	-0.87%	–
JWA	Exit	JOHN WILEY & SONS	$0	–	-325,000	–	-0.88%	–

Q2 2015

			Value		Shares		↓ Weighting
DIS	New	WALT DISNEY	$39,885,000	–	349,435	–	1.98%	–
MMM	New	3M COMPANY	$38,334,000	–	248,440	–	1.90%	–
AAPL	New	APPLE INC	$37,910,000	–	302,255	–	1.88%	–
CHD	New	CHURCH AND DWIGHT	$35,575,000	–	438,493	–	1.77%	–
PEP	New	PEPSICO	$35,462,000	–	379,925	–	1.76%	–
CL	New	COLGATE PALMOLIVE	$34,585,000	–	528,740	–	1.72%	–
TDY	New	TELEDYNE TECHNOLOGIES	$33,499,000	–	317,500	–	1.66%	–
NVS	New	NOVARTIS AG ADS (SZ)	$33,334,000	–	338,970	–	1.66%	–
LEG	New	LEGGETT & PLATT	$32,597,000	–	669,623	–	1.62%	–
HBI	New	HANESBRANDS	$32,024,000	–	961,093	–	1.59%	–
HD	New	HOME DEPOT INC	$31,910,000	–	287,143	–	1.59%	–
HON	New	HONEYWELL INT'L	$31,690,000	–	310,780	–	1.58%	–
TXN	New	TEXAS INSTRUMENTS	$30,959,000	–	601,025	–	1.54%	–
SUNEQ	New	SUNEDISON	$30,756,000	–	1,028,298	–	1.53%	–
MKC	New	MCCORMICK & CO	$30,699,000	–	379,240	–	1.53%	–
IP	New	INT'L PAPER	$30,658,000	–	644,215	–	1.52%	–
GILD	New	GILEAD SCIENCES	$30,518,000	–	260,659	–	1.52%	–
JNJ	New	JOHNSON & JOHNSON	$30,464,000	–	312,579	–	1.51%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$29,939,000	–	354,558	–	1.49%	–
GLW	New	CORNING	$29,893,000	–	1,515,103	–	1.49%	–
BCR	New	C.R. BARD	$29,071,000	–	170,303	–	1.44%	–
AVY	New	AVERY DENNISON	$28,227,000	–	463,188	–	1.40%	–
KR	New	KROGER	$27,931,000	–	385,203	–	1.39%	–
FDX	New	FEDEX CORPORATION	$27,414,000	–	160,880	–	1.36%	–
EMR	New	EMERSON ELECTRIC	$26,871,000	–	484,772	–	1.34%	–
DNB	New	DUN & BRADSTREET	$26,540,000	–	217,540	–	1.32%	–
DD	New	DUPONT	$26,403,000	–	412,873	–	1.31%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$26,189,000	–	453,484	–	1.30%	–
V	New	VISA	$26,080,000	–	388,391	–	1.30%	–
MHFI	New	MCGRAW-HILL FINANCIAL	$25,758,000	–	256,428	–	1.28%	–
MTSC	New	MTS SYSTEMS	$25,337,000	–	367,475	–	1.26%	–
MFC	New	MANULIFE FINL CORP ADR (CA)	$24,618,000	–	1,324,240	–	1.22%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$24,212,000	–	221,540	–	1.20%	–
KMB	New	KIMBERLY-CLARK	$23,640,000	–	223,082	–	1.18%	–
MCK	New	MCKESSON CORP	$23,543,000	–	104,725	–	1.17%	–
UNP	New	UNION PACIFIC	$23,367,000	–	245,009	–	1.16%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$22,363,000	–	433,136	–	1.11%	–
GBX	New	THE GREENBRIER COMPANIES	$22,239,000	–	474,675	–	1.10%	–
MMC	New	MARSH & MCLENNAN	$21,857,000	–	385,478	–	1.09%	–
CHKP	New	CHECK POINT SOFTWARE TECH (IS)	$21,783,000	–	273,833	–	1.08%	–
HRS	New	HARRIS	$21,511,000	–	279,688	–	1.07%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$21,159,000	–	474,100	–	1.05%	–
NSRGY	New	NESTLE SA ADR (SZ)	$21,035,000	–	291,500	–	1.04%	–
MDT	New	MEDTRONIC PLC (IL)	$20,455,000	–	276,051	–	1.02%	–
PG	New	PROCTER & GAMBLE	$20,416,000	–	260,947	–	1.02%	–
TNH	New	TERRA NITROGEN CO LPmlp	$20,319,000	–	167,800	–	1.01%	–
KMI	New	KINDER MORGAN	$20,085,000	–	523,177	–	1.00%	–
CERN	New	CERNER	$19,717,000	–	285,500	–	0.98%	–
MET	New	METLIFE	$19,700,000	–	351,855	–	0.98%	–
TXT	New	TEXTRON INC	$19,472,000	–	436,300	–	0.97%	–
XOM	New	EXXON MOBIL	$19,038,000	–	228,827	–	0.95%	–
COT	New	COTT CORP (CA)	$18,973,000	–	1,940,000	–	0.94%	–
SKM	New	S K TELECOM LTD ADR (KO)	$18,919,000	–	763,180	–	0.94%	–
GE	New	GENERAL ELECTRIC	$18,510,000	–	696,632	–	0.92%	–
ABB	New	ABB LTD ADR (SZ)	$18,482,000	–	885,170	–	0.92%	–
ADP	New	AUTOMATIC DATA PROCESSING	$18,206,000	–	226,920	–	0.90%	–
AVGO	New	AVAGO TECHNOLOGIES (HK)	$18,078,000	–	136,000	–	0.90%	–
VET	New	VERMILION ENERGY (CA)	$17,664,000	–	408,985	–	0.88%	–
JWA	New	JOHN WILEY & SONS	$17,670,000	–	325,000	–	0.88%	–
T	New	AT&T	$17,529,000	–	493,490	–	0.87%	–
BDC	New	BELDEN	$17,432,000	–	214,600	–	0.87%	–
BCE	New	BCE (CA)	$17,432,000	–	410,165	–	0.87%	–
IBM	New	IBM	$17,119,000	–	105,245	–	0.85%	–
XYL	New	XYLEM	$16,976,000	–	457,950	–	0.84%	–
DCI	New	DONALDSON	$16,933,000	–	473,000	–	0.84%	–
OMC	New	OMNICOM GROUP	$16,900,000	–	243,200	–	0.84%	–
CTSH	New	COGNIZANT TECH SOL CL A	$16,803,000	–	275,061	–	0.84%	–
CAT	New	CATERPILLAR	$16,432,000	–	193,725	–	0.82%	–
DE	New	DEERE AND CO	$15,926,000	–	164,101	–	0.79%	–
TMO	New	THERMO FISHER SCIENTIFIC	$15,701,000	–	121,000	–	0.78%	–
RH	New	RESTORATION HARDWARE	$15,621,000	–	160,000	–	0.78%	–
PNR	New	PENTAIR PLC (IL)	$15,508,000	–	225,570	–	0.77%	–
ACM	New	AECOM	$15,258,000	–	461,238	–	0.76%	–
IVZ	New	INVESCO LTD (BM)	$14,640,000	–	390,500	–	0.73%	–
HHC	New	HOWARD HUGHES CORP	$14,354,000	–	100,000	–	0.71%	–
BHP	New	BHP BILLITON LTD ADR (AU)	$13,766,000	–	338,152	–	0.68%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$13,457,000	–	337,425	–	0.67%	–
TRP	New	TRANSCANADA CORP ADR (CA)	$13,161,000	–	324,010	–	0.65%	–
COL	New	ROCKWELL COLLINS	$12,929,000	–	140,000	–	0.64%	–
AKZOY	New	AKZO NOBEL NV ADR (NE)	$12,160,000	–	500,000	–	0.60%	–
PUK	New	PRUDENTIAL PLC (GB)	$11,654,000	–	240,000	–	0.58%	–
ICLR	New	ICON PLC (IL)	$11,441,000	–	170,000	–	0.57%	–
CNQ	New	CANADIAN NATURAL RESOURCES ADR	$10,832,000	–	398,840	–	0.54%	–
KO	New	COCA-COLA	$10,333,000	–	263,400	–	0.51%	–
TGP	New	TEEKAY LNG PARTNERS LP (MI)unt	$9,947,000	–	308,900	–	0.49%	–
CTTAY	New	CONTINENTAL AG ADR (DE)	$9,177,000	–	192,000	–	0.46%	–
CRAY	New	CRAY INC	$9,015,000	–	305,500	–	0.45%	–
DISCA	New	DISCOVERY COMMUNICATIONS	$8,189,000	–	246,211	–	0.41%	–
DISCK	New	DISCOVERY COMMUNICATIONS SER C	$8,019,000	–	258,000	–	0.40%	–
BPT	New	BP PRUDHOE BAY ROYALTY TRUSTunt	$6,171,000	–	100,000	–	0.31%	–
ARLP	New	ALLIANCE RESOURCE PARTNERS LPmlp	$5,741,000	–	230,000	–	0.28%	–
BEP	New	BROOKFIELD RENEWABLE COMMON LPunt	$3,278,000	–	110,450	–	0.16%	–
EFX	New	EQUIFAX	$2,805,000	–	28,891	–	0.14%	–
KRFT	New	KRAFT FOODS GROUP	$2,729,000	–	32,049	–	0.14%	–
PFE	New	PFIZER	$2,716,000	–	80,990	–	0.14%	–
FMC	New	FMC CORP	$2,688,000	–	51,151	–	0.13%	–
RDSA	New	ROYAL DUTCH SHELL PLC ADR A (N	$2,419,000	–	42,435	–	0.12%	–
MSFT	New	MICROSOFT	$2,099,000	–	47,545	–	0.10%	–
NSC	New	NORFOLK SOUTHERN	$1,862,000	–	21,310	–	0.09%	–
PCL	New	PLUM CREEK TIMBER	$1,708,000	–	42,095	–	0.08%	–
BBT	New	BB&T	$1,398,000	–	34,692	–	0.07%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD (	$1,376,000	–	8,585	–	0.07%	–
PH	New	PARKER-HANNIFIN	$1,278,000	–	10,987	–	0.06%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,261,000	–	18,955	–	0.06%	–
UTX	New	UNITED TECHNOLOGIES	$1,276,000	–	11,500	–	0.06%	–
UL	New	UNILEVER PLC ADR (GB)	$1,181,000	–	27,495	–	0.06%	–
NEE	New	NEXTERA ENERGY	$1,177,000	–	12,010	–	0.06%	–
	New	ONEX CORP	$1,172,000	–	21,200	–	0.06%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,068,000	–	7,850	–	0.05%	–
	New	SUNCOR ENERGY (CA)	$1,018,000	–	37,000	–	0.05%	–
DUK	New	DUKE ENERGY CORP NEW	$1,027,000	–	14,536	–	0.05%	–
EPD	New	ENTERPRISE PT UTSmlp	$942,000	–	31,500	–	0.05%	–
RY	New	ROYAL BANK CANADA MONTREAL (CA	$888,000	–	14,527	–	0.04%	–
ROK	New	ROCKWELL AUTOMATION	$883,000	–	7,085	–	0.04%	–
HCN	New	HEALTH CARE REIT	$888,000	–	13,530	–	0.04%	–
FLR	New	FLUOR	$870,000	–	16,415	–	0.04%	–
INGR	New	INGREDION	$662,000	–	8,300	–	0.03%	–
LOW	New	LOWES COMPANIES INC	$663,000	–	9,900	–	0.03%	–
BG	New	BUNGE LTD ADR (BM)	$641,000	–	7,305	–	0.03%	–
CSCO	New	CISCO SYSTEMS	$606,000	–	22,060	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLC ADR (GB)	$594,000	–	14,265	–	0.03%	–
NOK	New	NOKIA	$589,000	–	86,000	–	0.03%	–
BASFY	New	BASF ADR (DE)	$553,000	–	6,300	–	0.03%	–
WFC	New	WELLS FARGO & CO NEW	$551,000	–	9,801	–	0.03%	–
SNA	New	SNAP-ON	$510,000	–	3,200	–	0.02%	–
CPB	New	CAMPBELL SOUP	$512,000	–	10,750	–	0.02%	–
SFG	New	STANCORP FINANCIAL GROUP	$491,000	–	6,500	–	0.02%	–
PNY	New	PIEDMONT NATURAL GAS	$417,000	–	11,800	–	0.02%	–
	New	LEUCADIA NAT'L CORP	$430,000	–	17,700	–	0.02%	–
NBBC	New	NEWBRIDGE BANCORP	$386,000	–	43,200	–	0.02%	–
AXP	New	AMERICAN EXPRESS	$389,000	–	5,000	–	0.02%	–
DRC	New	DRESSER-RAND GROUP	$366,000	–	4,300	–	0.02%	–
RIO	New	RIO TINTO PLC SPON ADR (GB)	$334,000	–	8,100	–	0.02%	–
MTX	New	MINERALS TECHNOLOGIES	$341,000	–	5,000	–	0.02%	–
ABT	New	ABBOTT LABORATORIES	$316,000	–	6,440	–	0.02%	–
EMC	New	EMC CORP	$324,000	–	12,275	–	0.02%	–
VZ	New	VERIZON COMMUNICATIONS	$287,000	–	6,150	–	0.01%	–
ABBV	New	ABBVIE INC	$273,000	–	4,070	–	0.01%	–
Y	New	ALLEGHANY CORP	$263,000	–	561	–	0.01%	–
WY	New	WEYERHAEUSER	$265,000	–	8,425	–	0.01%	–
POT	New	POTASH CORP SASK INC COM	$234,000	–	7,540	–	0.01%	–
BTTGY	New	BT GROUP PLC ADR (GB)	$248,000	–	3,500	–	0.01%	–
PLL	New	PALL	$224,000	–	1,800	–	0.01%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$226,000	–	5,495	–	0.01%	–
MRK	New	MERCK & CO INC NEW	$225,000	–	3,956	–	0.01%	–
CMI	New	CUMMINS INC	$210,000	–	1,600	–	0.01%	–

Q4 2014

			Value		Shares		↓ Weighting
NUE	Exit	NUCOR	$0	–	-3,900	–	-0.01%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-4,275	–	-0.01%	–
CMI	Exit	CUMMINS INC	$0	–	-1,600	–	-0.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,820	–	-0.01%	–
BTTGY	Exit	BT GROUP PLC ADR (GB)	$0	–	-3,800	–	-0.01%	–
Y	Exit	ALLEGHANY CORP	$0	–	-561	–	-0.01%	–
POT	Exit	POTASH CORP SASK INC COM	$0	–	-6,925	–	-0.01%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-6,190	–	-0.01%	–
SLW	Exit	SILVER WHEATON (CA)	$0	–	-14,000	–	-0.01%	–
MTX	Exit	MINERALS TECHNOLOGIES	$0	–	-5,000	–	-0.02%	–
NBBC	Exit	NEWBRIDGE BANCORP	$0	–	-43,200	–	-0.02%	–
EMC	Exit	EMC CORP	$0	–	-12,275	–	-0.02%	–
EPD	Exit	ENTERPRISE PT UTSmlp	$0	–	-9,900	–	-0.02%	–
SNA	Exit	SNAP-ON	$0	–	-3,200	–	-0.02%	–
PNY	Exit	PIEDMONT NATURAL GAS	$0	–	-12,200	–	-0.02%	–
SFG	Exit	STANCORP FINANCIAL GROUP	$0	–	-6,500	–	-0.02%	–
	Exit	LEUCADIA NAT'L CORP	$0	–	-16,800	–	-0.02%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-5,034	–	-0.02%	–
RIO	Exit	RIO TINTO PLC SPON ADR (GB)	$0	–	-9,100	–	-0.02%	–
CPB	Exit	CAMPBELL SOUP	$0	–	-11,300	–	-0.02%	–
UL	Exit	UNILEVER PLC ADR (GB)	$0	–	-12,305	–	-0.02%	–
	Exit	SUNCOR ENERGY (CA)	$0	–	-17,500	–	-0.03%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-24,850	–	-0.03%	–
INGR	Exit	INGREDION	$0	–	-9,000	–	-0.03%	–
LOW	Exit	LOWES	$0	–	-13,000	–	-0.03%	–
MSFT	Exit	MICROSOFT	$0	–	-15,985	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR	$0	–	-16,890	–	-0.04%	–
NCR	Exit	NCR	$0	–	-24,000	–	-0.04%	–
HCN	Exit	HEALTH CARE REIT	$0	–	-14,880	–	-0.04%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-17,671	–	-0.04%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-18,555	–	-0.05%	–
QCOM	Exit	QUALCOMM	$0	–	-13,325	–	-0.05%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-13,946	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA MONTREAL (CA	$0	–	-14,527	–	-0.05%	–
BBT	Exit	BB&T	$0	–	-27,802	–	-0.05%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-10,650	–	-0.06%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-12,110	–	-0.06%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-9,100	–	-0.06%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-11,296	–	-0.06%	–
	Exit	ONEX CORP	$0	–	-23,700	–	-0.06%	–
KRFT	Exit	KRAFT FOODS GROUP	$0	–	-32,449	–	-0.09%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD (	$0	–	-9,285	–	-0.09%	–
EFX	Exit	EQUIFAX	$0	–	-29,616	–	-0.11%	–
PFE	Exit	PFIZER	$0	–	-74,941	–	-0.11%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-20,505	–	-0.11%	–
PCL	Exit	PLUM CREEK TIMBER	$0	–	-67,890	–	-0.13%	–
BHI	Exit	BAKER HUGHES	$0	–	-45,600	–	-0.14%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC ADR A (N	$0	–	-41,205	–	-0.15%	–
KMI	Exit	KINDER MORGANmlp	$0	–	-89,890	–	-0.17%	–
SSW	Exit	SEASPAN CORP - HK	$0	–	-262,000	–	-0.28%	–
4305PS	Exit	ALCATEL-LUCENT ADR (FR)	$0	–	-1,900,006	–	-0.28%	–
DISCA	Exit	DISCOVERY COMMUNICATIONS	$0	–	-246,211	–	-0.46%	–
BPT	Exit	BP PRUDHOE BAY ROYALTY TRUSTunt	$0	–	-100,000	–	-0.46%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS SER C	$0	–	-264,211	–	-0.48%	–
ARLP	Exit	ALLIANCE RESOURCE PARTNERS LPmlp	$0	–	-240,130	–	-0.50%	–
KR	Exit	KROGER	$0	–	-200,000	–	-0.51%	–
PKI	Exit	PERKINELMER	$0	–	-240,090	–	-0.51%	–
KO	Exit	COCA-COLA	$0	–	-263,400	–	-0.55%	–
DRC	Exit	DRESSER-RAND GROUP	$0	–	-143,240	–	-0.58%	–
BCE	Exit	BCE (CA)	$0	–	-281,795	–	-0.59%	–
JDSU	Exit	JDS UNIPHASE	$0	–	-950,000	–	-0.59%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-372,420	–	-0.59%	–
AVGO	Exit	AVAGO TECHNOLOGIES (HK)	$0	–	-140,000	–	-0.60%	–
SAP	Exit	SAP AG ADR (DE)	$0	–	-172,900	–	-0.61%	–
AVY	Exit	AVERY DENNISON	$0	–	-284,625	–	-0.62%	–
WBK	Exit	WESTPAC BANKING ADR (AU)	$0	–	-462,000	–	-0.64%	–
SNY	Exit	SANOFI SPONSORED ADR (FR)	$0	–	-231,130	–	-0.64%	–
IVZ	Exit	INVESCO LTD (BM)	$0	–	-340,500	–	-0.66%	–
TGP	Exit	TEEKAY LNG PARTNERS LPunt	$0	–	-309,800	–	-0.66%	–
TKR	Exit	TIMKEN	$0	–	-320,065	–	-0.66%	–
JCI	Exit	JOHNSON CONTROLS	$0	–	-310,000	–	-0.67%	–
T	Exit	AT&T	$0	–	-388,605	–	-0.67%	–
MMC	Exit	MARSH & MCLENNAN	$0	–	-265,810	–	-0.68%	–
VET	Exit	VERMILION ENERGY (CA)	$0	–	-229,465	–	-0.68%	–
TRP	Exit	TRANSCANADA CORP ADR (CA)	$0	–	-276,535	–	-0.70%	–
MDT	Exit	MEDTRONIC	$0	–	-231,410	–	-0.70%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-327,225	–	-0.71%	–
HTHIY	Exit	HITACHI LTD ADR (JP)	$0	–	-193,000	–	-0.72%	–
BASFY	Exit	BASF ADR (DE)	$0	–	-161,645	–	-0.72%	–
FMC	Exit	FMC CORP	$0	–	-258,911	–	-0.72%	–
HHC	Exit	HOWARD HUGHES CORP	$0	–	-100,000	–	-0.73%	–
MCK	Exit	MCKESSON CORP	$0	–	-78,805	–	-0.75%	–
F	Exit	FORD MOTOR	$0	–	-1,039,230	–	-0.75%	–
TDC	Exit	TERADATA CORP	$0	–	-374,970	–	-0.77%	–
MHFI	Exit	MCGRAW-HILL FINANCIAL	$0	–	-187,405	–	-0.77%	–
ABB	Exit	ABB LTD ADR (CH)	$0	–	-713,715	–	-0.78%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-462,855	–	-0.79%	–
XYL	Exit	XYLEM	$0	–	-456,530	–	-0.79%	–
ITT	Exit	ITT CORP	$0	–	-364,200	–	-0.80%	–
V	Exit	VISA	$0	–	-78,989	–	-0.82%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-205,179	–	-0.83%	–
SUNEQ	Exit	SUNEDISON	$0	–	-920,480	–	-0.85%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-468,485	–	-0.87%	–
DE	Exit	DEERE AND CO	$0	–	-220,746	–	-0.88%	–
CERN	Exit	CERNER	$0	–	-304,075	–	-0.88%	–
WAG	Exit	WALGREEN	$0	–	-306,383	–	-0.89%	–
FLR	Exit	FLUOR	$0	–	-271,639	–	-0.89%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-169,520	–	-0.91%	–
JWA	Exit	JOHN WILEY & SONS	$0	–	-335,000	–	-0.92%	–
NSRGY	Exit	NESTLE SA ADR (SZ)	$0	–	-260,325	–	-0.94%	–
DCI	Exit	DONALDSON	$0	–	-473,000	–	-0.94%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-338,655	–	-0.94%	–
BDC	Exit	BELDEN	$0	–	-301,870	–	-0.94%	–
OMC	Exit	OMNICOM GROUP	$0	–	-283,260	–	-0.95%	–
CNQ	Exit	CANADIAN NATURAL RESOURCES ADR	$0	–	-503,410	–	-0.96%	–
PLL	Exit	PALL	$0	–	-238,150	–	-0.97%	–
XOM	Exit	EXXON MOBIL	$0	–	-215,231	–	-0.99%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-126,565	–	-1.00%	–
CAT	Exit	CATERPILLAR	$0	–	-210,150	–	-1.02%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-438,345	–	-1.02%	–
HON	Exit	HONEYWELL INT'L	$0	–	-233,023	–	-1.06%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-263,209	–	-1.08%	–
BHP	Exit	BHP BILLITON LTD ADR (AU)	$0	–	-374,467	–	-1.08%	–
BG	Exit	BUNGE LTD ADR (BM)	$0	–	-266,782	–	-1.10%	–
MET	Exit	METLIFE	$0	–	-424,825	–	-1.12%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-216,232	–	-1.14%	–
	Exit	MANULIFE FINL CORP ADR (CA)	$0	–	-1,233,985	–	-1.16%	–
TNH	Exit	TERRA NITROGEN CO LPmlp	$0	–	-167,420	–	-1.18%	–
HAL	Exit	HALLIBURTON COMPANY	$0	–	-377,776	–	-1.19%	–
MKC	Exit	MCCORMICK & CO	$0	–	-367,435	–	-1.20%	–
BCR	Exit	C.R. BARD	$0	–	-176,845	–	-1.23%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-1,021,377	–	-1.28%	–
MTSC	Exit	MTS SYSTEMS	$0	–	-387,675	–	-1.29%	–
PNR	Exit	PENTAIR PLC (IL)	$0	–	-407,155	–	-1.30%	–
SKM	Exit	S K TELECOM LTD ADR (KO)	$0	–	-880,750	–	-1.31%	–
DNB	Exit	DUN & BRADSTREET	$0	–	-229,020	–	-1.32%	–
IBM	Exit	IBM	$0	–	-142,420	–	-1.32%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-297,205	–	-1.39%	–
IP	Exit	INT'L PAPER	$0	–	-605,310	–	-1.41%	–
GLW	Exit	CORNING	$0	–	-1,494,940	–	-1.41%	–
4945SC	Exit	KINDER MORGAN ENERGY LP	$0	–	-313,100	–	-1.43%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR (CA)	$0	–	-477,178	–	-1.44%	–
UNP	Exit	UNION PACIFIC	$0	–	-274,441	–	-1.45%	–
AAPL	Exit	APPLE INC	$0	–	-312,865	–	-1.54%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-450,205	–	-1.54%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-297,319	–	-1.55%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-340,790	–	-1.57%	–
NVS	Exit	NOVARTIS AG ADS (SZ)	$0	–	-341,270	–	-1.57%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-522,802	–	-1.60%	–
CNI	Exit	CANADIAN NAT'L RWY ADR (CA)	$0	–	-484,757	–	-1.68%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-534,750	–	-1.70%	–
PEP	Exit	PEPSICO	$0	–	-389,927	–	-1.77%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-346,066	–	-1.80%	–
DIS	Exit	WALT DISNEY	$0	–	-415,530	–	-1.81%	–
MMM	Exit	3M COMPANY	$0	–	-277,127	–	-1.92%	–
DD	Exit	DUPONT	$0	–	-557,558	–	-1.96%	–
GBX	Exit	THE GREENBRIER COMPANIES	$0	–	-554,010	–	-1.99%	–

Q3 2014

			Value		Shares		↓ Weighting
GBX	Sell	THE GREENBRIER COMPANIES	$40,653,000	+10.0%	554,010	-13.6%	1.99%	+15.5%
DD	Sell	DUPONT	$40,010,000	+3.7%	557,558	-5.4%	1.96%	+8.8%
MMM	Sell	3M COMPANY	$39,263,000	-9.9%	277,127	-8.9%	1.92%	-5.4%
DIS	Sell	WALT DISNEY	$36,995,000	-4.4%	415,530	-7.9%	1.81%	+0.3%
GILD	Sell	GILEAD SCIENCES	$36,839,000	+9.9%	346,066	-14.4%	1.80%	+15.2%
PEP	Sell	PEPSICO	$36,298,000	-0.4%	389,927	-4.4%	1.77%	+4.5%
CL	Sell	COLGATE PALMOLIVE	$34,876,000	-8.3%	534,750	-4.1%	1.70%	-3.8%
CNI	Sell	CANADIAN NAT'L RWY ADR (CA)	$34,398,000	-2.5%	484,757	-10.6%	1.68%	+2.4%
EMR	Sell	EMERSON ELECTRIC	$32,717,000	-11.0%	522,802	-5.6%	1.60%	-6.7%
NVS	Sell	NOVARTIS AG ADS (SZ)	$32,124,000	-9.5%	341,270	-12.9%	1.57%	-5.0%
TDY	Sell	TELEDYNE TECHNOLOGIES	$32,038,000	-3.6%	340,790	-0.4%	1.57%	+1.2%
JNJ	Sell	JOHNSON & JOHNSON	$31,691,000	-7.8%	297,319	-9.5%	1.55%	-3.2%
CHD	Sell	CHURCH AND DWIGHT	$31,586,000	-2.9%	450,205	-3.2%	1.54%	+1.9%
AAPL	Buy	APPLE INC	$31,521,000	+25.1%	312,865	+15.4%	1.54%	+31.2%
UNP	Sell	UNION PACIFIC	$29,755,000	+0.9%	274,441	-7.1%	1.45%	+5.9%
BNS	Sell	BANK OF NOVA SCOTIA ADR (CA)	$29,513,000	-11.7%	477,178	-4.9%	1.44%	-7.4%
4945SC	Sell	KINDER MORGAN ENERGY LP	$29,206,000	+13.0%	313,100	-0.4%	1.43%	+18.6%
GLW	Sell	CORNING	$28,912,000	-17.0%	1,494,940	-5.8%	1.41%	-12.9%
IP	Sell	INT'L PAPER	$28,897,000	-8.7%	605,310	-3.5%	1.41%	-4.2%
IFF	Sell	INTL FLAVORS& FRAGRANCES	$28,496,000	-13.6%	297,205	-6.0%	1.39%	-9.3%
IBM	Sell	IBM	$27,036,000	-4.7%	142,420	-9.0%	1.32%	0.0%
DNB	Sell	DUN & BRADSTREET	$26,903,000	+0.1%	229,020	-6.1%	1.32%	+5.0%
SKM	Sell	S K TELECOM LTD ADR (KO)	$26,722,000	+7.8%	880,750	-7.8%	1.31%	+13.1%
PNR	Sell	PENTAIR PLC (IL)	$26,665,000	-13.2%	407,155	-4.4%	1.30%	-8.9%
MTSC	Sell	MTS SYSTEMS	$26,463,000	-5.7%	387,675	-6.4%	1.29%	-1.1%
GE	Sell	GENERAL ELECTRIC	$26,168,000	-8.4%	1,021,377	-6.1%	1.28%	-3.9%
BCR	Sell	C.R. BARD	$25,238,000	-5.2%	176,845	-5.0%	1.23%	-0.6%
MKC	Sell	MCCORMICK & CO	$24,581,000	-8.7%	367,435	-2.3%	1.20%	-4.2%
HAL	Sell	HALLIBURTON COMPANY	$24,370,000	-10.4%	377,776	-1.3%	1.19%	-5.9%
TNH	Buy	TERRA NITROGEN CO LPmlp	$24,175,000	+0.7%	167,420	+0.6%	1.18%	+5.5%
	Sell	MANULIFE FINL CORP ADR (CA)	$23,754,000	-7.2%	1,233,985	-4.3%	1.16%	-2.7%
KMB	Buy	KIMBERLY-CLARK	$23,260,000	-2.7%	216,232	+0.6%	1.14%	+2.2%
MET	Sell	METLIFE	$22,822,000	-3.7%	424,825	-0.4%	1.12%	+1.1%
BG	Sell	BUNGE LTD ADR (BM)	$22,471,000	-11.5%	266,782	-20.5%	1.10%	-7.2%
PG	Sell	PROCTER & GAMBLE	$22,041,000	-12.6%	263,209	-18.0%	1.08%	-8.3%
BHP	Buy	BHP BILLITON LTD ADR (AU)	$22,049,000	-13.2%	374,467	+0.9%	1.08%	-9.0%
HON	Sell	HONEYWELL INT'L	$21,699,000	-4.2%	233,023	-4.4%	1.06%	+0.5%
TXN	Sell	TEXAS INSTRUMENTS	$20,905,000	-14.5%	438,345	-14.3%	1.02%	-10.2%
CAT	Sell	CATERPILLAR	$20,811,000	-13.9%	210,150	-5.5%	1.02%	-9.7%
FDX	Sell	FEDEX CORPORATION	$20,434,000	+4.8%	126,565	-1.8%	1.00%	+10.0%
XOM	Sell	EXXON MOBIL	$20,242,000	-14.5%	215,231	-8.5%	0.99%	-10.3%
PLL	Buy	PALL	$19,933,000	+16.0%	238,150	+18.3%	0.97%	+21.6%
CNQ	Sell	CANADIAN NATURAL RESOURCES ADR	$19,552,000	-18.8%	503,410	-4.0%	0.96%	-14.9%
OMC	Buy	OMNICOM GROUP	$19,505,000	+21.7%	283,260	+25.9%	0.95%	+27.7%
BDC	Buy	BELDEN	$19,326,000	+0.5%	301,870	+22.7%	0.94%	+5.4%
A	Sell	AGILENT TECHNOLOGIES	$19,297,000	-1.3%	338,655	-0.5%	0.94%	+3.6%
NSRGY	Sell	NESTLE SA ADR (SZ)	$19,168,000	-9.0%	260,325	-4.0%	0.94%	-4.5%
JWA	Sell	JOHN WILEY & SONS	$18,797,000	-12.8%	335,000	-5.8%	0.92%	-8.5%
ROK	Sell	ROCKWELL AUTOMATION	$18,627,000	-27.5%	169,520	-17.5%	0.91%	-24.0%
WAG	Sell	WALGREEN	$18,159,000	-41.5%	306,383	-26.9%	0.89%	-38.7%
FLR	Sell	FLUOR	$18,143,000	-19.0%	271,639	-6.8%	0.89%	-15.0%
DE	Sell	DEERE AND CO	$18,099,000	-26.4%	220,746	-18.7%	0.88%	-22.9%
BIP	Sell	BROOKFIELD INFRASTRUCTURE PARTunt	$17,802,000	-9.7%	468,485	-0.8%	0.87%	-5.2%
SUNEQ	Sell	SUNEDISON	$17,379,000	-16.6%	920,480	-0.2%	0.85%	-12.6%
ADP	Sell	AUTOMATIC DATA PROCESSING	$17,046,000	-15.7%	205,179	-19.5%	0.83%	-11.5%
V	Sell	VISA	$16,854,000	-20.6%	78,989	-21.6%	0.82%	-16.7%
ITT	Sell	ITT CORP	$16,367,000	-6.7%	364,200	-0.1%	0.80%	-2.1%
XYL	Sell	XYLEM	$16,202,000	-9.2%	456,530	-0.1%	0.79%	-4.7%
LEG	Sell	LEGGETT & PLATT	$16,163,000	-14.1%	462,855	-15.7%	0.79%	-9.9%
ABB	Sell	ABB LTD ADR (CH)	$15,994,000	-23.0%	713,715	-20.9%	0.78%	-19.1%
MHFI	Buy	MCGRAW-HILL FINANCIAL	$15,826,000	+1.7%	187,405	+0.0%	0.77%	+6.6%
TDC	Buy	TERADATA CORP	$15,719,000	+7.0%	374,970	+2.6%	0.77%	+12.3%
F	Sell	FORD MOTOR	$15,370,000	-14.7%	1,039,230	-0.6%	0.75%	-10.6%
MCK	New	MCKESSON CORP	$15,341,000	–	78,805	–	0.75%	–
FMC	Sell	FMC CORP	$14,807,000	-35.7%	258,911	-20.0%	0.72%	-32.5%
BASFY	Buy	BASF ADR (DE)	$14,802,000	-21.2%	161,645	+0.2%	0.72%	-17.4%
HTHIY	Sell	HITACHI LTD ADR (JP)	$14,764,000	+0.6%	193,000	-3.5%	0.72%	+5.4%
TRP	Buy	TRANSCANADA CORP ADR (CA)	$14,250,000	+8.2%	276,535	+0.2%	0.70%	+13.5%
VET	Buy	VERMILION ENERGY (CA)	$13,945,000	+76.2%	229,465	+102.2%	0.68%	+84.6%
MMC	New	MARSH & MCLENNAN	$13,912,000	–	265,810	–	0.68%	–
T	Sell	AT&T	$13,694,000	-3.7%	388,605	-3.4%	0.67%	+1.1%
JCI	Sell	JOHNSON CONTROLS	$13,640,000	-24.7%	310,000	-14.6%	0.67%	-21.0%
TKR	Buy	TIMKEN	$13,568,000	-11.3%	320,065	+42.0%	0.66%	-6.9%
TGP	Buy	TEEKAY LNG PARTNERS LPunt	$13,495,000	-5.0%	309,800	+0.6%	0.66%	-0.5%
SNY	New	SANOFI SPONSORED ADR (FR)	$13,043,000	–	231,130	–	0.64%	–
AVY	Sell	AVERY DENNISON	$12,709,000	-40.0%	284,625	-31.1%	0.62%	-37.0%
AVGO	New	AVAGO TECHNOLOGIES (HK)	$12,180,000	–	140,000	–	0.60%	–
FCX	Sell	FREEPORT MCMORAN	$12,160,000	-16.5%	372,420	-6.6%	0.59%	-12.4%
JDSU	Sell	JDS UNIPHASE	$12,160,000	-2.5%	950,000	-5.0%	0.59%	+2.2%
BCE	Buy	BCE (CA)	$12,050,000	-2.0%	281,795	+3.9%	0.59%	+2.8%
DRC	Sell	DRESSER-RAND GROUP	$11,783,000	-21.0%	143,240	-38.8%	0.58%	-17.0%
PKI	Buy	PERKINELMER	$10,468,000	-6.1%	240,090	+0.9%	0.51%	-1.3%
KR	New	KROGER	$10,400,000	–	200,000	–	0.51%	–
DISCK	New	DISCOVERY COMMUNICATIONS SER C	$9,850,000	–	264,211	–	0.48%	–
DISCA	Sell	DISCOVERY COMMUNICATIONS	$9,307,000	-49.9%	246,211	-1.5%	0.46%	-47.4%
4305PS	Sell	ALCATEL-LUCENT ADR (FR)	$5,757,000	-50.7%	1,900,006	-42.1%	0.28%	-48.3%
SSW	Buy	SEASPAN CORP - HK	$5,633,000	+0.7%	262,000	+9.6%	0.28%	+5.4%
KMI	New	KINDER MORGANmlp	$3,446,000	–	89,890	–	0.17%	–
RDSA	Sell	ROYAL DUTCH SHELL PLC ADR A (N	$3,137,000	-7.8%	41,205	-0.2%	0.15%	-3.2%
BHI	Buy	BAKER HUGHES	$2,967,000	-10.3%	45,600	+2.6%	0.14%	-5.8%
PCL	Sell	PLUM CREEK TIMBER	$2,648,000	-19.1%	67,890	-6.5%	0.13%	-15.7%
NSC	Sell	NORFOLK SOUTHERN	$2,288,000	+8.2%	20,505	-0.1%	0.11%	+14.3%
EFX	Sell	EQUIFAX	$2,213,000	-3.5%	29,616	-6.3%	0.11%	+0.9%
PFE	Buy	PFIZER	$2,216,000	+6.8%	74,941	+7.2%	0.11%	+11.3%
CP	Sell	CANADIAN PACIFIC RAILWAY LTD (	$1,926,000	+13.0%	9,285	-1.3%	0.09%	+19.0%
KRFT	Sell	KRAFT FOODS GROUP	$1,830,000	-15.9%	32,449	-10.6%	0.09%	-11.9%
	New	ONEX CORP	$1,319,000	–	23,700	–	0.06%	–
PH	Sell	PARKER-HANNIFIN	$1,289,000	-16.6%	11,296	-8.1%	0.06%	-12.5%
BRKB	Buy	BERKSHIRE HATHAWAY CL B	$1,257,000	+282.1%	9,100	+250.0%	0.06%	+306.7%
NEE	Sell	NEXTERA ENERGY	$1,137,000	-22.0%	12,110	-14.8%	0.06%	-17.6%
DUK	Buy	DUKE ENERGY CORP NEW	$1,043,000	+11.2%	13,946	+10.3%	0.05%	+15.9%
QCOM	Buy	QUALCOMM	$996,000	+2.9%	13,325	+9.0%	0.05%	+8.9%
BMY	Sell	BRISTOL-MYERS SQUIBB	$950,000	-3.7%	18,555	-8.8%	0.05%	0.0%
WFC	Buy	WELLS FARGO & CO NEW	$917,000	+19.7%	17,671	+21.3%	0.04%	+25.0%
NCR	New	NCR	$802,000	–	24,000	–	0.04%	–
GSK	Buy	GLAXOSMITHKLINE PLC ADR	$776,000	-3.0%	16,890	+13.0%	0.04%	+2.7%
MSFT	Buy	MICROSOFT	$741,000	+11.8%	15,985	+0.5%	0.04%	+16.1%
LOW	Sell	LOWES	$688,000	+10.1%	13,000	-0.2%	0.03%	+17.2%
INGR	New	INGREDION	$682,000	–	9,000	–	0.03%	–
	Sell	SUNCOR ENERGY (CA)	$633,000	-67.8%	17,500	-62.1%	0.03%	-66.3%
AXP	New	AMERICAN EXPRESS	$441,000	–	5,034	–	0.02%	–
SFG	New	STANCORP FINANCIAL GROUP	$411,000	–	6,500	–	0.02%	–
	New	LEUCADIA NAT'L CORP	$401,000	–	16,800	–	0.02%	–
SNA	New	SNAP-ON	$387,000	–	3,200	–	0.02%	–
EPD	New	ENTERPRISE PT UTSmlp	$399,000	–	9,900	–	0.02%	–
EMC	Sell	EMC CORP	$359,000	-10.7%	12,275	-19.6%	0.02%	-5.3%
MTX	New	MINERALS TECHNOLOGIES	$309,000	–	5,000	–	0.02%	–
ABT	New	ABBOTT LABORATORIES	$257,000	–	6,190	–	0.01%	–
POT	Sell	POTASH CORP SASK INC COM	$239,000	-27.8%	6,925	-20.6%	0.01%	-20.0%
Y	New	ALLEGHANY CORP	$235,000	–	561	–	0.01%	–
BTTGY	Sell	BT GROUP PLC ADR (GB)	$234,000	-7.5%	3,800	-1.3%	0.01%	-8.3%
NUE	New	NUCOR	$212,000	–	3,900	–	0.01%	–
TKPPY	Exit	TECHNIP ADR	$0	–	-8,965	–	-0.01%	–
BAYRY	Exit	BAYER ADR	$0	–	-2,950	–	-0.02%	–
PHG	Exit	KONINKLIJKE PHILIPS NV ADR	$0	–	-37,757	–	-0.06%	–
WY	Exit	WEYERHAEUSER	$0	–	-63,300	–	-0.10%	–
CBI	Exit	CHICAGO BRIDGE & IRON (NE)	$0	–	-35,000	–	-0.11%	–
UN	Exit	UNILEVER N V - NEW YORK SHS AD	$0	–	-302,500	–	-0.62%	–

Q2 2014

			Value		Shares		↓ Weighting
MMM	New	3M COMPANY	$43,572,000	–	304,187	–	2.03%	–
DIS	New	WALT DISNEY	$38,684,000	–	451,175	–	1.80%	–
DD	New	DUPONT	$38,589,000	–	589,683	–	1.80%	–
CL	New	COLGATE PALMOLIVE	$38,034,000	–	557,845	–	1.77%	–
GBX	New	THE GREENBRIER COMPANIES	$36,946,000	–	641,415	–	1.72%	–
EMR	New	EMERSON ELECTRIC	$36,769,000	–	554,082	–	1.71%	–
PEP	New	PEPSICO	$36,446,000	–	407,952	–	1.70%	–
NVS	New	NOVARTIS AG ADS (SZ)	$35,489,000	–	392,015	–	1.65%	–
CNI	New	CANADIAN NAT'L RWY ADR (CA)	$35,262,000	–	542,327	–	1.64%	–
GLW	New	CORNING	$34,826,000	–	1,586,625	–	1.62%	–
JNJ	New	JOHNSON & JOHNSON	$34,377,000	–	328,589	–	1.60%	–
GILD	New	GILEAD SCIENCES	$33,528,000	–	404,391	–	1.56%	–
BNS	New	BANK OF NOVA SCOTIA ADR (CA)	$33,429,000	–	501,943	–	1.56%	–
TDY	New	TELEDYNE TECHNOLOGIES	$33,240,000	–	342,080	–	1.55%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$32,978,000	–	316,245	–	1.54%	–
CHD	New	CHURCH AND DWIGHT	$32,523,000	–	464,945	–	1.52%	–
IP	New	INT'L PAPER	$31,652,000	–	627,140	–	1.47%	–
WAG	New	WALGREEN	$31,067,000	–	419,093	–	1.45%	–
PNR	New	PENTAIR PLC (IL)	$30,709,000	–	425,810	–	1.43%	–
UNP	New	UNION PACIFIC	$29,478,000	–	295,516	–	1.37%	–
GE	New	GENERAL ELECTRIC	$28,577,000	–	1,087,412	–	1.33%	–
IBM	New	IBM	$28,355,000	–	156,425	–	1.32%	–
MTSC	New	MTS SYSTEMS	$28,054,000	–	414,025	–	1.31%	–
HAL	New	HALLIBURTON COMPANY	$27,190,000	–	382,901	–	1.27%	–
MKC	New	MCCORMICK & CO	$26,931,000	–	376,180	–	1.25%	–
DNB	New	DUN & BRADSTREET	$26,872,000	–	243,845	–	1.25%	–
BCR	New	C.R. BARD	$26,628,000	–	186,200	–	1.24%	–
4945SC	New	KINDER MORGAN ENERGY LPmlp	$25,839,000	–	314,300	–	1.20%	–
ROK	New	ROCKWELL AUTOMATION	$25,706,000	–	205,385	–	1.20%	–
	New	MANULIFE FINL CORP ADR (CA)	$25,608,000	–	1,288,800	–	1.19%	–
BHP	New	BHP BILLITON LTD ADR (AU)	$25,410,000	–	371,227	–	1.18%	–
BG	New	BUNGE LTD ADR (BM)	$25,397,000	–	335,762	–	1.18%	–
PG	New	PROCTER & GAMBLE	$25,219,000	–	320,896	–	1.18%	–
AAPL	New	APPLE INC	$25,196,000	–	271,130	–	1.17%	–
SKM	New	S K TELECOM LTD ADR (KO)	$24,790,000	–	955,675	–	1.16%	–
DE	New	DEERE AND CO	$24,598,000	–	271,651	–	1.15%	–
TXN	New	TEXAS INSTRUMENTS	$24,441,000	–	511,435	–	1.14%	–
CAT	New	CATERPILLAR	$24,173,000	–	222,445	–	1.13%	–
CNQ	New	CANADIAN NATURAL RESOURCES ADR	$24,085,000	–	524,610	–	1.12%	–
TNH	New	TERRA NITROGEN CO LPunt	$24,018,000	–	166,420	–	1.12%	–
KMB	New	KIMBERLY-CLARK	$23,900,000	–	214,892	–	1.11%	–
MET	New	METLIFE	$23,688,000	–	426,355	–	1.10%	–
XOM	New	EXXON MOBIL	$23,683,000	–	235,231	–	1.10%	–
FMC	New	FMC CORP	$23,038,000	–	323,616	–	1.07%	–
HON	New	HONEYWELL INT'L	$22,654,000	–	243,723	–	1.06%	–
FLR	New	FLUOR	$22,410,000	–	291,414	–	1.04%	–
JWA	New	JOHN WILEY & SONS	$21,546,000	–	355,600	–	1.00%	–
V	New	VISA	$21,236,000	–	100,784	–	0.99%	–
AVY	New	AVERY DENNISON	$21,167,000	–	413,005	–	0.99%	–
NSRGY	New	NESTLE SA ADR	$21,070,000	–	271,275	–	0.98%	–
SUNEQ	New	SUNEDISON	$20,838,000	–	922,020	–	0.97%	–
ABB	New	ABB LTD ADR	$20,761,000	–	901,875	–	0.97%	–
ADP	New	AUTOMATIC DATA PROCESSING	$20,210,000	–	254,924	–	0.94%	–
DCI	New	DONALDSON	$20,017,000	–	473,000	–	0.93%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$19,708,000	–	472,385	–	0.92%	–
A	New	AGILENT TECHNOLOGIES	$19,545,000	–	340,270	–	0.91%	–
FDX	New	FEDEX CORPORATION	$19,502,000	–	128,827	–	0.91%	–
BDC	New	BELDEN	$19,227,000	–	246,000	–	0.90%	–
LEG	New	LEGGETT & PLATT	$18,827,000	–	549,205	–	0.88%	–
BASFY	New	BASF ADR	$18,793,000	–	161,310	–	0.88%	–
DISCA	New	DISCOVERY COMMUNICATIONS	$18,570,000	–	250,000	–	0.86%	–
JCI	New	JOHNSON CONTROLS	$18,126,000	–	363,025	–	0.84%	–
F	New	FORD MOTOR	$18,027,000	–	1,045,625	–	0.84%	–
XYL	New	XYLEM	$17,852,000	–	456,800	–	0.83%	–
ITT	New	ITT CORP	$17,534,000	–	364,535	–	0.82%	–
PLL	New	PALL	$17,189,000	–	201,300	–	0.80%	–
OMC	New	OMNICOM GROUP	$16,024,000	–	225,000	–	0.75%	–
HHC	New	HOWARD HUGHES CORP	$15,783,000	–	100,000	–	0.74%	–
CERN	New	CERNER	$15,684,000	–	304,075	–	0.73%	–
MHFI	New	MCGRAW-HILL FINANCIAL	$15,556,000	–	187,355	–	0.72%	–
TKR	New	TIMKEN	$15,289,000	–	225,375	–	0.71%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$15,052,000	–	327,225	–	0.70%	–
DRC	New	DRESSER-RAND GROUP	$14,909,000	–	233,945	–	0.69%	–
WBK	New	WESTPAC BANKING ADR	$14,839,000	–	462,000	–	0.69%	–
MDT	New	MEDTRONIC	$14,755,000	–	231,410	–	0.69%	–
TDC	New	TERADATA CORP	$14,694,000	–	365,525	–	0.68%	–
HTHIY	New	HITACHI LTD ADR	$14,678,000	–	200,000	–	0.68%	–
FCX	New	FREEPORT MCMORAN	$14,557,000	–	398,835	–	0.68%	–
TGP	New	TEEKAY LNG PARTNERS LPunt	$14,211,000	–	308,000	–	0.66%	–
T	New	AT&T	$14,221,000	–	402,185	–	0.66%	–
SAP	New	SAP AG ADR	$13,313,000	–	172,900	–	0.62%	–
UN	New	UNILEVER N V - NEW YORK SHS AD	$13,237,000	–	302,500	–	0.62%	–
TRP	New	TRANSCANADA CORP ADR	$13,164,000	–	275,860	–	0.61%	–
IVZ	New	INVESCO LTD	$12,854,000	–	340,500	–	0.60%	–
JDSU	New	JDS UNIPHASE	$12,470,000	–	1,000,000	–	0.58%	–
BCE	New	BCE (CA)	$12,299,000	–	271,140	–	0.57%	–
4305PS	New	ALCATEL-LUCENT ADR (FR)	$11,673,000	–	3,279,001	–	0.54%	–
ARLP	New	ALLIANCE RESOURCE PARTNERS LPmlp	$11,202,000	–	240,130	–	0.52%	–
KO	New	COCA-COLA	$11,158,000	–	263,400	–	0.52%	–
PKI	New	PERKINELMER	$11,147,000	–	237,990	–	0.52%	–
BPT	New	BP PRUDHOE BAY ROYALTY TRUSTunt	$9,894,000	–	100,000	–	0.46%	–
VET	New	VERMILION ENERGY (CA)	$7,913,000	–	113,465	–	0.37%	–
SSW	New	SEASPAN CORP - HK	$5,595,000	–	239,000	–	0.26%	–
RDSA	New	ROYAL DUTCH SHELL PLC ADR A	$3,402,000	–	41,305	–	0.16%	–
BHI	New	BAKER HUGHES	$3,307,000	–	44,425	–	0.15%	–
PCL	New	PLUM CREEK TIMBER	$3,275,000	–	72,610	–	0.15%	–
CBI	New	CHICAGO BRIDGE & IRON (NE)	$2,387,000	–	35,000	–	0.11%	–
EFX	New	EQUIFAX	$2,293,000	–	31,616	–	0.11%	–
KRFT	New	KRAFT FOODS GROUP	$2,177,000	–	36,309	–	0.10%	–
NSC	New	NORFOLK SOUTHERN	$2,114,000	–	20,520	–	0.10%	–
WY	New	WEYERHAEUSER	$2,095,000	–	63,300	–	0.10%	–
PFE	New	PFIZER	$2,075,000	–	69,911	–	0.10%	–
	New	SUNCOR ENERGY CA	$1,967,000	–	46,150	–	0.09%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD	$1,705,000	–	9,410	–	0.08%	–
PH	New	PARKER-HANNIFIN	$1,546,000	–	12,296	–	0.07%	–
NEE	New	NEXTERA ENERGY	$1,457,000	–	14,215	–	0.07%	–
UTX	New	UNITED TECHNOLOGIES	$1,230,000	–	10,650	–	0.06%	–
PHG	New	KONINKLIJKE PHILIPS NV ADR	$1,199,000	–	37,757	–	0.06%	–
BBT	New	BB&T	$1,096,000	–	27,802	–	0.05%	–
RY	New	ROYAL BANK CANADA MONTREAL	$1,038,000	–	14,527	–	0.05%	–
BMY	New	BRISTOL-MYERS SQUIBB	$987,000	–	20,355	–	0.05%	–
QCOM	New	QUALCOMM	$968,000	–	12,225	–	0.04%	–
DUK	New	DUKE ENERGY CORP NEW	$938,000	–	12,646	–	0.04%	–
HCN	New	HEALTH CARE REIT	$933,000	–	14,880	–	0.04%	–
GSK	New	GLAXOSMITHKLINE PLC ADR	$800,000	–	14,950	–	0.04%	–
WFC	New	WELLS FARGO & CO NEW	$766,000	–	14,571	–	0.04%	–
MSFT	New	MICROSOFT	$663,000	–	15,900	–	0.03%	–
LOW	New	LOWES	$625,000	–	13,030	–	0.03%	–
CSCO	New	CISCO SYSTEMS	$618,000	–	24,850	–	0.03%	–
UL	New	UNILEVER PLC ADR	$558,000	–	12,305	–	0.03%	–
CPB	New	CAMPBELL SOUP	$518,000	–	11,300	–	0.02%	–
RIO	New	RIO TINTO PLC SPON ADR	$494,000	–	9,100	–	0.02%	–
PNY	New	PIEDMONT NATURAL GAS	$456,000	–	12,200	–	0.02%	–
BAYRY	New	BAYER ADR	$417,000	–	2,950	–	0.02%	–
EMC	New	EMC CORP	$402,000	–	15,275	–	0.02%	–
SLW	New	SILVER WHEATON (CA)	$368,000	–	14,000	–	0.02%	–
NBBC	New	NEWBRIDGE BANCORP	$348,000	–	43,200	–	0.02%	–
POT	New	POTASH CORP SASK INC COM	$331,000	–	8,725	–	0.02%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$329,000	–	2,600	–	0.02%	–
BTTGY	New	BT GROUP PLC ADR	$253,000	–	3,850	–	0.01%	–
CMI	New	CUMMINS INC	$247,000	–	1,600	–	0.01%	–
TKPPY	New	TECHNIP ADR	$246,000	–	8,965	–	0.01%	–
ABBV	New	ABBVIE INC	$216,000	–	3,820	–	0.01%	–
VZ	New	VERIZON COMMUNICATIONS	$209,000	–	4,275	–	0.01%	–

Q4 2013

			Value		Shares		↓ Weighting
NES	Exit	NUVERRA ENVIRONMENTAL SOLUTION	$0	–	-20,000	–	-0.00%	–
BTTGY	Exit	BT GROUP PLC ADR	$0	–	-3,850	–	-0.01%	–
CMI	Exit	CUMMINS INC	$0	–	-1,600	–	-0.01%	–
TKPPY	Exit	TECHNIP ADR	$0	–	-8,350	–	-0.01%	–
PNY	Exit	PIEDMONT NATURAL GAS	$0	–	-12,200	–	-0.02%	–
SUNEQ	Exit	SUNEDISON	$0	–	-50,000	–	-0.02%	–
RIO	Exit	RIO TINTO PLC SPON ADR	$0	–	-9,100	–	-0.02%	–
CPB	Exit	CAMPBELL SOUP	$0	–	-11,300	–	-0.02%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-12,155	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-5,000	–	-0.03%	–
QCOM	Exit	QUALCOMM	$0	–	-10,275	–	-0.04%	–
APC	Exit	ANADARKO PETROLEUM	$0	–	-7,500	–	-0.04%	–
MHFI	Exit	MCGRAW-HILL FINANCIAL	$0	–	-12,175	–	-0.04%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-12,638	–	-0.04%	–
MSFT	Exit	MICROSOFT	$0	–	-25,325	–	-0.04%	–
BBT	Exit	BB&T	$0	–	-26,310	–	-0.04%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-23,155	–	-0.06%	–
PH	Exit	PARKER-HANNIFIN	$0	–	-12,787	–	-0.07%	–
CP	Exit	CANADIAN PACIFIC RAILWAY LTD	$0	–	-11,505	–	-0.07%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-20,020	–	-0.08%	–
RY	Exit	ROYAL BANK CANADA MONTREAL	$0	–	-24,222	–	-0.08%	–
HCN	Exit	HEALTH CARE REIT	$0	–	-34,740	–	-0.11%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-27,575	–	-0.11%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-21,550	–	-0.12%	–
KRFT	Exit	KRAFT FOODS GROUP	$0	–	-45,073	–	-0.12%	–
PFE	Exit	PFIZER	$0	–	-83,395	–	-0.12%	–
EFX	Exit	EQUIFAX	$0	–	-45,178	–	-0.14%	–
BAYRY	Exit	BAYER ADR	$0	–	-23,720	–	-0.14%	–
PCL	Exit	PLUM CREEK TIMBER	$0	–	-87,665	–	-0.21%	–
EMC	Exit	EMC CORP	$0	–	-161,885	–	-0.21%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC ADR A	$0	–	-65,730	–	-0.22%	–
SSW	Exit	SEASPAN CORP - HK	$0	–	-200,000	–	-0.25%	–
ARLP	Exit	ALLIANCE RESOURCE PARTNERS LPmlp	$0	–	-70,000	–	-0.26%	–
SAIC	Exit	SCIENCE APPLICATIONS INT'L COR	$0	–	-158,979	–	-0.27%	–
BPT	Exit	BP PRUDHOE BAY ROYALTY TRUSTunt	$0	–	-100,000	–	-0.44%	–
UL	Exit	UNILEVER PLC ADR	$0	–	-229,265	–	-0.45%	–
SAP	Exit	SAP AG ADR	$0	–	-160,000	–	-0.60%	–
UN	Exit	UNILEVER N V - NEW YORK SHS AD	$0	–	-327,800	–	-0.63%	–
LDOS	Exit	LEIDOS HOLDINGS	$0	–	-278,209	–	-0.65%	–
XYL	Exit	XYLEM	$0	–	-466,660	–	-0.67%	–
TRP	Exit	TRANSCANADA CORP ADR	$0	–	-301,245	–	-0.68%	–
BCE	Exit	B C E	$0	–	-315,080	–	-0.69%	–
KO	Exit	COCA-COLA	$0	–	-363,400	–	-0.70%	–
TGP	Exit	TEEKAY LNG PARTNERS LPunt	$0	–	-313,815	–	-0.71%	–
OMC	Exit	OMNICOM GROUP	$0	–	-225,000	–	-0.73%	–
HAL	Exit	HALLIBURTON COMPANY	$0	–	-303,000	–	-0.75%	–
JDSU	Exit	JDS UNIPHASE	$0	–	-1,000,000	–	-0.75%	–
HTHIY	Exit	HITACHI LTD ADR	$0	–	-227,700	–	-0.77%	–
SPH	Exit	SUBURBAN PROPANE PARTNERS LPmlp	$0	–	-328,550	–	-0.79%	–
PLL	Exit	PALL	$0	–	-201,525	–	-0.79%	–
WBK	Exit	WESTPAC BANKING ADR	$0	–	-507,000	–	-0.80%	–
JCI	Exit	JOHNSON CONTROLS	$0	–	-375,000	–	-0.80%	–
BASFY	Exit	BASF ADR	$0	–	-168,600	–	-0.83%	–
FDX	Exit	FEDEX CORPORATION	$0	–	-143,827	–	-0.84%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR	$0	–	-337,435	–	-0.86%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-248,655	–	-0.88%	–
GBX	Exit	THE GREENBRIER COMPANIES	$0	–	-709,025	–	-0.90%	–
ERIC	Exit	LM ERICSSON TELEPHONE ADR	$0	–	-1,312,700	–	-0.90%	–
F	Exit	FORD MOTOR	$0	–	-1,042,280	–	-0.90%	–
FCX	Exit	FREEPORT MCMORAN COPPER	$0	–	-543,080	–	-0.92%	–
AAPL	Exit	APPLE INC	$0	–	-37,820	–	-0.92%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-352,140	–	-0.92%	–
BIP	Exit	BROOKFIELD INFRASTRUCTURE PARTunt	$0	–	-489,335	–	-0.95%	–
JWA	Exit	JOHN WILEY & SONS	$0	–	-393,450	–	-0.96%	–
DCI	Exit	DONALDSON	$0	–	-508,000	–	-0.99%	–
T	Exit	AT&T	$0	–	-575,975	–	-1.00%	–
CAT	Exit	CATERPILLAR	$0	–	-234,465	–	-1.00%	–
RYN	Exit	RAYONIER	$0	–	-352,500	–	-1.00%	–
CNQ	Exit	CANADIAN NATURAL RESOURCES ADR	$0	–	-625,715	–	-1.01%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-855,035	–	-1.02%	–
XOM	Exit	EXXON MOBIL	$0	–	-233,621	–	-1.03%	–
	Exit	MANULIFE FINL CORP ADR	$0	–	-1,221,795	–	-1.03%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-282,019	–	-1.04%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-513,580	–	-1.06%	–
CERN	Exit	CERNER	$0	–	-394,575	–	-1.06%	–
LEG	Exit	LEGGETT & PLATT	$0	–	-690,920	–	-1.06%	–
DISCA	Exit	DISCOVERY COMMUNICATIONS	$0	–	-250,000	–	-1.08%	–
BDC	Exit	BELDEN	$0	–	-334,000	–	-1.09%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-232,762	–	-1.12%	–
BHP	Exit	BHP BILLITON LTD ADR	$0	–	-332,477	–	-1.13%	–
MET	Exit	METLIFE	$0	–	-471,905	–	-1.13%	–
DE	Exit	DEERE AND CO	$0	–	-275,526	–	-1.15%	–
HON	Exit	HONEYWELL INT'L	$0	–	-278,464	–	-1.18%	–
SKM	Exit	S K TELECOM LTD ADR	$0	–	-1,040,175	–	-1.21%	–
WAG	Exit	WALGREEN	$0	–	-445,525	–	-1.22%	–
MKC	Exit	MCCORMICK & CO	$0	–	-374,295	–	-1.24%	–
FLR	Exit	FLUOR	$0	–	-357,260	–	-1.30%	–
PNR	Exit	PENTAIR	$0	–	-391,310	–	-1.30%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-338,686	–	-1.31%	–
4945SC	Exit	KINDER MORGAN ENERGY LPmlp	$0	–	-321,900	–	-1.31%	–
MTSC	Exit	MTS SYSTEMS	$0	–	-400,000	–	-1.32%	–
GLW	Exit	CORNING	$0	–	-1,787,735	–	-1.33%	–
BCR	Exit	C.R. BARD	$0	–	-227,475	–	-1.34%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-1,128,547	–	-1.38%	–
BG	Exit	BUNGE LTD ADR	$0	–	-362,192	–	-1.41%	–
UNP	Exit	UNION PACIFIC	$0	–	-181,436	–	-1.44%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-266,010	–	-1.45%	–
IP	Exit	INT'L PAPER	$0	–	-639,555	–	-1.46%	–
IBM	Exit	IBM	$0	–	-154,815	–	-1.47%	–
DNB	Exit	DUN & BRADSTREET	$0	–	-277,315	–	-1.47%	–
IFF	Exit	INTL FLAVORS& FRAGRANCES	$0	–	-350,240	–	-1.47%	–
CHD	Exit	CHURCH AND DWIGHT	$0	–	-483,065	–	-1.48%	–
DRC	Exit	DRESSER-RAND GROUP	$0	–	-465,990	–	-1.49%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-339,795	–	-1.51%	–
CNI	Exit	CANADIAN NATIONAL RAILWAY ADR	$0	–	-290,639	–	-1.51%	–
NVS	Exit	NOVARTIS AG ADS	$0	–	-384,355	–	-1.51%	–
ABB	Exit	ABB LTD ADR	$0	–	-1,280,425	–	-1.54%	–
BNS	Exit	BANK OF NOVA SCOTIA ADR	$0	–	-527,844	–	-1.55%	–
FMC	Exit	FMC CORP	$0	–	-438,600	–	-1.61%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-535,345	–	-1.72%	–
TDY	Exit	TELEDYNE TECHNOLOGIES	$0	–	-396,710	–	-1.72%	–
DIS	Exit	WALT DISNEY	$0	–	-537,005	–	-1.77%	–
PEP	Exit	PEPSICO	$0	–	-435,932	–	-1.77%	–
TNH	Exit	TERRA NITROGEN CO LPunt	$0	–	-175,100	–	-1.81%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-607,927	–	-1.84%	–
DD	Exit	DUPONT	$0	–	-686,935	–	-2.06%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-639,747	–	-2.12%	–
MMM	Exit	3M COMPANY	$0	–	-347,875	–	-2.12%	–

Q3 2013

			Value		Shares		↓ Weighting
MMM	Sell	3M COMPANY	$41,540,000	+4.3%	347,875	-4.5%	2.12%	-0.4%
EMR	Sell	EMERSON ELECTRIC	$41,392,000	+15.8%	639,747	-2.4%	2.12%	+10.5%
DD	Sell	DUPONT	$40,227,000	+9.6%	686,935	-1.8%	2.06%	+4.6%
CL	Sell	COLGATE PALMOLIVE	$36,050,000	+1.1%	607,927	-2.3%	1.84%	-3.5%
PEP	Sell	PEPSICO	$34,657,000	-4.5%	435,932	-1.8%	1.77%	-8.8%
DIS	Sell	WALT DISNEY	$34,631,000	-3.8%	537,005	-5.8%	1.77%	-8.1%
TDY	Sell	TELEDYNE TECHNOLOGIES	$33,693,000	+1.0%	396,710	-8.0%	1.72%	-3.6%
GILD	Sell	GILEAD SCIENCES	$33,657,000	+4.1%	535,345	-15.1%	1.72%	-0.6%
FMC	Buy	FMC CORP	$31,456,000	+36.4%	438,600	+16.2%	1.61%	+30.2%
BNS	Sell	BANK OF NOVA SCOTIA ADR	$30,251,000	+5.2%	527,844	-1.7%	1.55%	+0.4%
ABB	Sell	ABB LTD ADR	$30,205,000	+7.9%	1,280,425	-0.9%	1.54%	+3.0%
NVS	Sell	NOVARTIS AG ADS	$29,484,000	+5.2%	384,355	-3.1%	1.51%	+0.4%
JNJ	Buy	JOHNSON & JOHNSON	$29,457,000	+3.2%	339,795	+2.2%	1.51%	-1.5%
CNI	Sell	CANADIAN NATIONAL RAILWAY ADR	$29,462,000	+2.7%	290,639	-1.5%	1.51%	-2.0%
DRC	Sell	DRESSER-RAND GROUP	$29,078,000	-11.1%	465,990	-14.5%	1.49%	-15.1%
CHD	Sell	CHURCH AND DWIGHT	$29,008,000	-8.2%	483,065	-5.6%	1.48%	-12.4%
IFF	Sell	INTL FLAVORS& FRAGRANCES	$28,825,000	+6.3%	350,240	-2.9%	1.47%	+1.5%
DNB	Sell	DUN & BRADSTREET	$28,799,000	-8.2%	277,315	-13.9%	1.47%	-12.4%
IBM	Sell	IBM	$28,669,000	-3.9%	154,815	-0.9%	1.47%	-8.3%
IP	Sell	INT'L PAPER	$28,652,000	-0.6%	639,555	-1.7%	1.46%	-5.1%
ROK	Sell	ROCKWELL AUTOMATION	$28,447,000	+22.6%	266,010	-4.7%	1.45%	+17.0%
UNP	Sell	UNION PACIFIC	$28,184,000	-4.9%	181,436	-5.6%	1.44%	-9.2%
BG	Sell	BUNGE LTD ADR	$27,494,000	+4.5%	362,192	-2.5%	1.41%	-0.2%
GE	Buy	GENERAL ELECTRIC	$26,961,000	+3.4%	1,128,547	+0.3%	1.38%	-1.4%
BCR	Sell	C.R. BARD	$26,205,000	+1.0%	227,475	-4.8%	1.34%	-3.6%
GLW	Buy	CORNING	$26,083,000	+6.4%	1,787,735	+3.8%	1.33%	+1.6%
PG	Buy	PROCTER & GAMBLE	$25,601,000	-0.9%	338,686	+0.9%	1.31%	-5.4%
PNR	Sell	PENTAIR	$25,412,000	+6.6%	391,310	-5.3%	1.30%	+1.8%
FLR	Sell	FLUOR	$25,351,000	+10.8%	357,260	-7.4%	1.30%	+5.7%
MKC	Sell	MCCORMICK & CO	$24,217,000	-10.7%	374,295	-2.9%	1.24%	-14.8%
WAG	Sell	WALGREEN	$23,969,000	+19.3%	445,525	-1.9%	1.22%	+13.8%
SKM	Sell	S K TELECOM LTD ADR	$23,612,000	+10.6%	1,040,175	-0.9%	1.21%	+5.6%
HON	Sell	HONEYWELL INT'L	$23,124,000	-5.9%	278,464	-10.1%	1.18%	-10.2%
DE	Buy	DEERE AND CO	$22,425,000	+7.8%	275,526	+7.6%	1.15%	+2.9%
MET	Buy	METLIFE	$22,156,000	+6.1%	471,905	+3.4%	1.13%	+1.3%
BHP	Sell	BHP BILLITON LTD ADR	$22,110,000	+13.7%	332,477	-1.4%	1.13%	+8.4%
KMB	Buy	KIMBERLY-CLARK	$21,931,000	-1.5%	232,762	+1.5%	1.12%	-6.0%
BDC	Sell	BELDEN	$21,393,000	+19.0%	334,000	-7.2%	1.09%	+13.6%
DISCA	Sell	DISCOVERY COMMUNICATIONS	$21,105,000	-5.1%	250,000	-13.2%	1.08%	-9.4%
LEG	Sell	LEGGETT & PLATT	$20,831,000	-17.1%	690,920	-14.5%	1.06%	-20.8%
CERN	Buy	CERNER	$20,735,000	+3.8%	394,575	+89.9%	1.06%	-0.8%
TXN	Sell	TEXAS INSTRUMENTS	$20,692,000	+15.5%	513,580	-0.1%	1.06%	+10.2%
ADP	Sell	AUTOMATIC DATA PROCESSING	$20,413,000	+1.7%	282,019	-3.2%	1.04%	-2.9%
	Buy	MANULIFE FINL CORP ADR	$20,233,000	+4.0%	1,221,795	+0.6%	1.03%	-0.8%
XOM	Sell	EXXON MOBIL	$20,101,000	-17.6%	233,621	-13.5%	1.03%	-21.3%
CSCO	Buy	CISCO SYSTEMS	$20,034,000	+50.8%	855,035	+56.6%	1.02%	+43.8%
CNQ	Buy	CANADIAN NATURAL RESOURCES ADR	$19,672,000	+28.8%	625,715	+15.7%	1.01%	+23.0%
RYN	Sell	RAYONIER	$19,617,000	-2.1%	352,500	-2.5%	1.00%	-6.5%
CAT	Sell	CATERPILLAR	$19,554,000	-9.6%	234,465	-10.6%	1.00%	-13.7%
T	Buy	AT&T	$19,479,000	-2.7%	575,975	+1.8%	1.00%	-7.1%
DCI	Sell	DONALDSON	$19,370,000	+1.5%	508,000	-5.0%	0.99%	-3.1%
JWA	Sell	JOHN WILEY & SONS	$18,764,000	+16.0%	393,450	-2.5%	0.96%	+10.7%
BIP	Sell	BROOKFIELD INFRASTRUCTURE PARTunt	$18,605,000	-2.9%	489,335	-6.7%	0.95%	-7.3%
AAPL	Sell	APPLE INC	$18,031,000	+17.8%	37,820	-2.0%	0.92%	+12.6%
FCX	Buy	FREEPORT MCMORAN COPPER	$17,965,000	+2455.5%	543,080	+2033.9%	0.92%	+2315.8%
F	Buy	FORD MOTOR	$17,583,000	+328.5%	1,042,280	+292.9%	0.90%	+308.6%
ERIC	Sell	LM ERICSSON TELEPHONE ADR	$17,525,000	+18.2%	1,312,700	-0.1%	0.90%	+12.8%
GBX	Buy	THE GREENBRIER COMPANIES	$17,534,000	+32.9%	709,025	+30.9%	0.90%	+26.7%
NSRGY	Buy	NESTLE SA ADR	$17,306,000	+6.7%	248,655	+0.9%	0.88%	+2.0%
GSK	Buy	GLAXOSMITHKLINE PLC ADR	$16,929,000	+1.7%	337,435	+1.3%	0.86%	-2.9%
FDX	Sell	FEDEX CORPORATION	$16,412,000	+8.2%	143,827	-6.5%	0.84%	+3.3%
JCI	New	JOHNSON CONTROLS	$15,562,000	–	375,000	–	0.80%	–
WBK	Buy	WESTPAC BANKING ADR	$15,550,000	+17.4%	507,000	+405.0%	0.80%	+12.1%
PLL	Buy	PALL	$15,525,000	+16.3%	201,525	+0.3%	0.79%	+11.0%
SPH	Buy	SUBURBAN PROPANE PARTNERS LPmlp	$15,376,000	+1.8%	328,550	+1.0%	0.79%	-2.8%
HTHIY	Sell	HITACHI LTD ADR	$15,108,000	-2.0%	227,700	-4.6%	0.77%	-6.4%
HAL	New	HALLIBURTON COMPANY	$14,589,000	–	303,000	–	0.75%	–
TGP	Buy	TEEKAY LNG PARTNERS LPunt	$13,842,000	+2.9%	313,815	+1.9%	0.71%	-1.7%
KO	Sell	COCA-COLA	$13,766,000	-5.8%	363,400	-0.2%	0.70%	-10.0%
BCE	Sell	B C E	$13,454,000	+2.0%	315,080	-2.0%	0.69%	-2.5%
TRP	Sell	TRANSCANADA CORP ADR	$13,237,000	-12.6%	301,245	-14.3%	0.68%	-16.5%
XYL	Buy	XYLEM	$13,034,000	+9.5%	466,660	+5.7%	0.67%	+4.6%
LDOS	New	LEIDOS HOLDINGS	$12,664,000	–	278,209	–	0.65%	–
UL	Sell	UNILEVER PLC ADR	$8,845,000	-9.3%	229,265	-4.9%	0.45%	-13.4%
SAIC	New	SCIENCE APPLICATIONS INT'L COR	$5,366,000	–	158,979	–	0.27%	–
RDSA	Sell	ROYAL DUTCH SHELL PLC ADR A	$4,317,000	-46.5%	65,730	-48.0%	0.22%	-48.8%
EMC	Buy	EMC CORP	$4,138,000	+11.6%	161,885	+3.1%	0.21%	+6.5%
PCL	Buy	PLUM CREEK TIMBER	$4,105,000	+2.2%	87,665	+1.9%	0.21%	-2.3%
BAYRY	Sell	BAYER ADR	$2,798,000	+6.1%	23,720	-4.0%	0.14%	+1.4%
EFX	Sell	EQUIFAX	$2,704,000	+0.2%	45,178	-1.3%	0.14%	-4.2%
PFE	Buy	PFIZER	$2,396,000	+2.9%	83,395	+0.3%	0.12%	-2.4%
KRFT	Sell	KRAFT FOODS GROUP	$2,365,000	-6.2%	45,073	-0.1%	0.12%	-10.4%
UTX	Sell	UNITED TECHNOLOGIES	$2,324,000	+12.6%	21,550	-3.0%	0.12%	+7.2%
NEE	Sell	NEXTERA ENERGY	$2,210,000	-90.5%	27,575	-90.3%	0.11%	-90.9%
HCN	Sell	HEALTH CARE REIT	$2,167,000	-86.0%	34,740	-85.0%	0.11%	-86.6%
NSC	Buy	NORFOLK SOUTHERN	$1,549,000	+42.9%	20,020	+34.1%	0.08%	+36.2%
CP	Sell	CANADIAN PACIFIC RAILWAY LTD	$1,419,000	-5.0%	11,505	-6.5%	0.07%	-8.8%
PH	Sell	PARKER-HANNIFIN	$1,390,000	+12.6%	12,787	-1.2%	0.07%	+7.6%
BBT	Buy	BB&T	$888,000	+4.0%	26,310	+4.4%	0.04%	-2.2%
DUK	Sell	DUKE ENERGY CORP NEW	$844,000	-9.0%	12,638	-7.9%	0.04%	-14.0%
MSFT	Buy	MICROSOFT	$843,000	-1.9%	25,325	+1.8%	0.04%	-6.5%
MHFI	Sell	MCGRAW-HILL FINANCIAL	$799,000	+14.0%	12,175	-7.6%	0.04%	+7.9%
QCOM	Sell	QUALCOMM	$692,000	-94.7%	10,275	-95.2%	0.04%	-95.0%
BRKB	New	BERKSHIRE HATHAWAY CL B	$568,000	–	5,000	–	0.03%	–
WFC	New	WELLS FARGO & CO NEW	$502,000	–	12,155	–	0.03%	–
CMI	New	CUMMINS INC	$213,000	–	1,600	–	0.01%	–
BTTGY	New	BT GROUP PLC ADR	$213,000	–	3,850	–	0.01%	–
MCD	Exit	MCDONALD'S	$0	–	-14,150	–	-0.08%	–
SAI	Exit	SAIC INC	$0	–	-277,965	–	-0.21%	–

Q2 2013

			Value		Shares		↓ Weighting
MMM	New	3M COMPANY	$39,820,000	–	364,150	–	2.13%	–
TNH	New	TERRA NITROGEN CO LPunt	$37,470,000	–	175,100	–	2.01%	–
DD	New	DUPONT	$36,711,000	–	699,260	–	1.97%	–
PEP	New	PEPSICO	$36,301,000	–	443,837	–	1.94%	–
DIS	New	WALT DISNEY	$35,989,000	–	569,890	–	1.93%	–
EMR	New	EMERSON ELECTRIC	$35,756,000	–	655,597	–	1.92%	–
CL	New	COLGATE PALMOLIVE	$35,657,000	–	622,402	–	1.91%	–
TDY	New	TELEDYNE TECHNOLOGIES	$33,344,000	–	431,080	–	1.79%	–
DRC	New	DRESSER-RAND GROUP	$32,699,000	–	545,160	–	1.75%	–
GILD	New	GILEAD SCIENCES	$32,319,000	–	630,365	–	1.73%	–
CHD	New	CHURCH AND DWIGHT	$31,592,000	–	511,950	–	1.69%	–
DNB	New	DUN & BRADSTREET	$31,370,000	–	321,910	–	1.68%	–
IBM	New	IBM	$29,846,000	–	156,170	–	1.60%	–
UNP	New	UNION PACIFIC	$29,637,000	–	192,101	–	1.59%	–
IP	New	INT'L PAPER	$28,823,000	–	650,490	–	1.54%	–
BNS	New	BANK OF NOVA SCOTIA ADR	$28,755,000	–	536,969	–	1.54%	–
CNI	New	CANADIAN NATIONAL RAILWAY ADR	$28,693,000	–	294,984	–	1.54%	–
JNJ	New	JOHNSON & JOHNSON	$28,552,000	–	332,545	–	1.53%	–
NVS	New	NOVARTIS AG ADS	$28,035,000	–	396,475	–	1.50%	–
ABB	New	ABB LTD ADR	$27,984,000	–	1,291,970	–	1.50%	–
4945SC	New	KINDER MORGAN ENERGY LPmlp	$27,490,000	–	321,900	–	1.47%	–
MKC	New	MCCORMICK & CO	$27,122,000	–	385,470	–	1.45%	–
IFF	New	INTL FLAVORS& FRAGRANCES	$27,111,000	–	360,710	–	1.45%	–
BG	New	BUNGE LTD ADR	$26,300,000	–	371,627	–	1.41%	–
GE	New	GENERAL ELECTRIC	$26,080,000	–	1,124,627	–	1.40%	–
BCR	New	C.R. BARD	$25,958,000	–	238,845	–	1.39%	–
PG	New	PROCTER & GAMBLE	$25,843,000	–	335,667	–	1.38%	–
LEG	New	LEGGETT & PLATT	$25,121,000	–	808,010	–	1.34%	–
HON	New	HONEYWELL INT'L	$24,565,000	–	309,614	–	1.32%	–
GLW	New	CORNING	$24,503,000	–	1,721,915	–	1.31%	–
XOM	New	EXXON MOBIL	$24,390,000	–	269,946	–	1.31%	–
PNR	New	PENTAIR	$23,829,000	–	413,050	–	1.28%	–
ROK	New	ROCKWELL AUTOMATION	$23,207,000	–	279,130	–	1.24%	–
NEE	New	NEXTERA ENERGY	$23,182,000	–	284,510	–	1.24%	–
FMC	New	FMC CORP	$23,054,000	–	377,555	–	1.24%	–
FLR	New	FLUOR	$22,886,000	–	385,865	–	1.23%	–
MTSC	New	MTS SYSTEMS	$22,640,000	–	400,000	–	1.21%	–
KMB	New	KIMBERLY-CLARK	$22,272,000	–	229,282	–	1.19%	–
DISCA	New	DISCOVERY COMMUNICATIONS	$22,245,000	–	288,000	–	1.19%	–
CAT	New	CATERPILLAR	$21,635,000	–	262,275	–	1.16%	–
SKM	New	S K TELECOM LTD ADR	$21,341,000	–	1,049,750	–	1.14%	–
MET	New	METLIFE	$20,880,000	–	456,290	–	1.12%	–
DE	New	DEERE AND CO	$20,806,000	–	256,071	–	1.11%	–
WAG	New	WALGREEN	$20,084,000	–	454,385	–	1.08%	–
ADP	New	AUTOMATIC DATA PROCESSING	$20,064,000	–	291,380	–	1.08%	–
RYN	New	RAYONIER	$20,032,000	–	361,650	–	1.07%	–
T	New	AT&T	$20,020,000	–	565,525	–	1.07%	–
CERN	New	CERNER	$19,968,000	–	207,800	–	1.07%	–
	New	MANULIFE FINL CORP ADR	$19,464,000	–	1,214,975	–	1.04%	–
BHP	New	BHP BILLITON LTD ADR	$19,453,000	–	337,367	–	1.04%	–
BIP	New	BROOKFIELD INFRASTRUCTURE PARTunt	$19,151,000	–	524,410	–	1.03%	–
DCI	New	DONALDSON	$19,078,000	–	535,000	–	1.02%	–
BDC	New	BELDEN	$17,975,000	–	360,000	–	0.96%	–
TXN	New	TEXAS INSTRUMENTS	$17,921,000	–	514,230	–	0.96%	–
GSK	New	GLAXOSMITHKLINE PLC ADR	$16,641,000	–	333,025	–	0.89%	–
NSRGY	New	NESTLE SA ADR	$16,214,000	–	246,490	–	0.87%	–
JWA	New	JOHN WILEY & SONS	$16,174,000	–	403,450	–	0.87%	–
HCN	New	HEALTH CARE REIT	$15,485,000	–	231,020	–	0.83%	–
HTHIY	New	HITACHI LTD ADR	$15,410,000	–	238,700	–	0.82%	–
AAPL	New	APPLE INC	$15,300,000	–	38,585	–	0.82%	–
CNQ	New	CANADIAN NATURAL RESOURCES ADR	$15,278,000	–	540,610	–	0.82%	–
FDX	New	FEDEX CORPORATION	$15,164,000	–	153,827	–	0.81%	–
TRP	New	TRANSCANADA CORP ADR	$15,145,000	–	351,320	–	0.81%	–
SPH	New	SUBURBAN PROPANE PARTNERS LPmlp	$15,103,000	–	325,150	–	0.81%	–
BASFY	New	BASF ADR	$15,088,000	–	168,600	–	0.81%	–
A	New	AGILENT TECHNOLOGIES	$15,058,000	–	352,140	–	0.81%	–
ERIC	New	LM ERICSSON TELEPHONE ADR	$14,828,000	–	1,314,500	–	0.79%	–
KO	New	COCA-COLA	$14,606,000	–	364,160	–	0.78%	–
JDSU	New	JDS UNIPHASE	$14,390,000	–	1,000,000	–	0.77%	–
OMC	New	OMNICOM GROUP	$14,146,000	–	225,000	–	0.76%	–
TGP	New	TEEKAY LNG PARTNERS LPunt	$13,452,000	–	307,815	–	0.72%	–
PLL	New	PALL	$13,346,000	–	200,900	–	0.72%	–
CSCO	New	CISCO SYSTEMS	$13,288,000	–	546,030	–	0.71%	–
WBK	New	WESTPAC BANKING ADR	$13,242,000	–	100,400	–	0.71%	–
GBX	New	THE GREENBRIER COMPANIES	$13,198,000	–	541,570	–	0.71%	–
BCE	New	B C E	$13,190,000	–	321,544	–	0.71%	–
QCOM	New	QUALCOMM	$13,136,000	–	215,025	–	0.70%	–
UN	New	UNILEVER N V - NEW YORK SHS AD	$12,886,000	–	327,800	–	0.69%	–
XYL	New	XYLEM	$11,898,000	–	441,660	–	0.64%	–
SAP	New	SAP AG ADR	$11,653,000	–	160,000	–	0.62%	–
UL	New	UNILEVER PLC ADR	$9,747,000	–	240,965	–	0.52%	–
BPT	New	BP PRUDHOE BAY ROYALTY TRUSTunt	$9,627,000	–	100,000	–	0.52%	–
RDSA	New	ROYAL DUTCH SHELL PLC ADR A	$8,069,000	–	126,478	–	0.43%	–
ARLP	New	ALLIANCE RESOURCE PARTNERS LPmlp	$4,944,000	–	70,000	–	0.26%	–
SSW	New	SEASPAN CORP - HK	$4,150,000	–	200,000	–	0.22%	–
F	New	FORD MOTOR	$4,103,000	–	265,245	–	0.22%	–
PCL	New	PLUM CREEK TIMBER	$4,017,000	–	86,065	–	0.22%	–
SAI	New	SAIC INC	$3,872,000	–	277,965	–	0.21%	–
EMC	New	EMC CORP	$3,708,000	–	157,005	–	0.20%	–
EFX	New	EQUIFAX	$2,698,000	–	45,778	–	0.14%	–
BAYRY	New	BAYER ADR	$2,637,000	–	24,720	–	0.14%	–
KRFT	New	KRAFT FOODS GROUP	$2,520,000	–	45,108	–	0.14%	–
PFE	New	PFIZER	$2,329,000	–	83,145	–	0.12%	–
UTX	New	UNITED TECHNOLOGIES	$2,064,000	–	22,210	–	0.11%	–
CP	New	CANADIAN PACIFIC RAILWAY LTD	$1,494,000	–	12,305	–	0.08%	–
RY	New	ROYAL BANK CANADA MONTREAL	$1,412,000	–	24,222	–	0.08%	–
MCD	New	MCDONALD'S	$1,401,000	–	14,150	–	0.08%	–
PH	New	PARKER-HANNIFIN	$1,234,000	–	12,937	–	0.07%	–
NSC	New	NORFOLK SOUTHERN	$1,084,000	–	14,925	–	0.06%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,035,000	–	23,155	–	0.06%	–
DUK	New	DUKE ENERGY CORP NEW	$927,000	–	13,727	–	0.05%	–
BBT	New	BB&T	$854,000	–	25,210	–	0.05%	–
MSFT	New	MICROSOFT	$859,000	–	24,875	–	0.05%	–
FCX	New	FREEPORT MCMORAN COPPER	$703,000	–	25,450	–	0.04%	–
MHFI	New	MCGRAW-HILL FINANCIAL	$701,000	–	13,175	–	0.04%	–
APC	New	ANADARKO PETROLEUM	$644,000	–	7,500	–	0.03%	–
CPB	New	CAMPBELL SOUP	$506,000	–	11,300	–	0.03%	–
PNY	New	PIEDMONT NATURAL GAS	$412,000	–	12,200	–	0.02%	–
SUNEQ	New	SUNEDISON	$408,000	–	50,000	–	0.02%	–
RIO	New	RIO TINTO PLC SPON ADR	$374,000	–	9,100	–	0.02%	–
TKPPY	New	TECHNIP ADR	$212,000	–	8,350	–	0.01%	–
NES	New	NUVERRA ENVIRONMENTAL SOLUTION	$58,000	–	20,000	–	0.00%	–

Compare quarters

Export BOWEN HANES & CO INC's holdings