Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| V | Buy | VISA INC | $4,043,000 | +34.7% | 26,939 | +18.9% | 6.20% | +22.3% |
| WFC | Buy | WELLS FARGO CO NEW | $2,787,000 | +1.4% | 53,024 | +6.9% | 4.28% | -8.0% |
| MMM | Buy | 3M CO | $2,692,000 | +7.4% | 12,774 | +0.2% | 4.13% | -2.5% |
| CVS | Buy | CVS HEALTH CORP | $2,626,000 | +34.0% | 33,355 | +9.6% | 4.03% | +21.7% |
| MA | Buy | MASTERCARD INCORPORATEDcl a | $2,479,000 | +54.1% | 11,138 | +36.1% | 3.80% | +39.8% |
| JNJ | Sell | JOHNSON & JOHNSON | $2,184,000 | -29.0% | 15,803 | -37.6% | 3.35% | -35.5% |
| T | Sell | AT&T INC | $1,760,000 | +4.6% | 52,399 | -0.0% | 2.70% | -5.1% |
| HON | New | HONEYWELL INTL INC | $1,629,000 | – | 9,790 | – | 2.50% | – |
| UTX | Sell | UNITED TECHNOLOGIES CORP | $1,538,000 | -42.2% | 10,997 | -48.3% | 2.36% | -47.5% |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | New | EXPRESS SCRIPTS HLDG CO | $4,376,000 | – | 56,672 | – | 7.40% | – |
| CL | New | COLGATE PALMOLIVE CO | $4,241,000 | – | 65,445 | – | 7.17% | – |
| PEP | New | PEPSICO INC | $4,152,000 | – | 38,137 | – | 7.02% | – |
| PG | New | PROCTER AND GAMBLE CO | $3,897,000 | – | 49,920 | – | 6.59% | – |
| BRKB | New | BERKSHIRE HATHAWAY INC DELcl b new | $3,776,000 | – | 20,230 | – | 6.38% | – |
| CNC | New | CENTENE CORP DEL | $3,196,000 | – | 25,940 | – | 5.40% | – |
| JNJ | New | JOHNSON & JOHNSON | $3,075,000 | – | 25,338 | – | 5.20% | – |
| V | New | VISA INC | $3,002,000 | – | 22,664 | – | 5.07% | – |
| BLK | New | BLACKROCK INC | $2,902,000 | – | 5,815 | – | 4.90% | – |
| WFC | New | WELLS FARGO CO NEW | $2,749,000 | – | 49,585 | – | 4.65% | – |
| FDX | New | FEDEX CORP | $2,744,000 | – | 12,085 | – | 4.64% | – |
| UTX | New | UNITED TECHNOLOGIES CORP | $2,661,000 | – | 21,282 | – | 4.50% | – |
| WBA | New | WALGREENS BOOTS ALLIANCE INC | $2,519,000 | – | 41,976 | – | 4.26% | – |
| MMM | New | 3M CO | $2,507,000 | – | 12,744 | – | 4.24% | – |
| EMR | New | EMERSON ELEC CO | $2,269,000 | – | 32,820 | – | 3.84% | – |
| ANTM | New | ANTHEM INC | $2,257,000 | – | 9,484 | – | 3.82% | – |
| CVS | New | CVS HEALTH CORP | $1,959,000 | – | 30,445 | – | 3.31% | – |
| T | New | AT&T INC | $1,683,000 | – | 52,400 | – | 2.84% | – |
| MA | New | MASTERCARD INCORPORATEDcl a | $1,609,000 | – | 8,185 | – | 2.72% | – |
| ATHN | New | ATHENAHEALTH INC | $1,473,000 | – | 9,256 | – | 2.49% | – |
| DLTR | New | DOLLAR TREE INC | $510,000 | – | 6,000 | – | 0.86% | – |
| FIS | New | FIDELITY NATL INFORMATION SV | $474,000 | – | 4,467 | – | 0.80% | – |
| CEM | New | CLEARBRIDGE ENERGY MLP FD IN | $472,000 | – | 33,435 | – | 0.80% | – |
| NTRS | New | NORTHERN TR CORP | $410,000 | – | 3,980 | – | 0.69% | – |
| MMP | New | MAGELLAN MIDSTREAM PRTNRS LP | $247,000 | – | 3,569 | – | 0.42% | – |
Q4 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BWP | Exit | BOARDWALK PIPELINE PTNunit lp | $0 | – | -10,670 | – | -0.12% | – |
| VZ | Exit | VERIZON COMMUNICATIONS INC | $0 | – | -4,515 | – | -0.17% | – |
| PFE | Exit | PFIZER INC | $0 | – | -6,944 | – | -0.19% | – |
| UPS | Exit | UNITED PARCEL SERVICE CL B | $0 | – | -2,295 | – | -0.21% | – |
| T | Exit | AT&T INC | $0 | – | -7,048 | – | -0.21% | – |
| TGP | Exit | TEEKAY LNG PTNunit lp | $0 | – | -17,865 | – | -0.24% | – |
| TEP | Exit | TALLGRASS ENERGY PARTNERS LP | $0 | – | -7,600 | – | -0.28% | – |
| CEQP | Exit | CRESTWOOD EQUITY PTNunit lp | $0 | – | -16,299 | – | -0.30% | – |
| TGE | Exit | TALLGRASS ENERGY GP LP | $0 | – | -14,600 | – | -0.31% | – |
| FIS | Exit | FIDELITY NATIONAL INFORMATION | $0 | – | -4,467 | – | -0.32% | – |
| TRP | Exit | TRANSCANADA CORP | $0 | – | -9,405 | – | -0.36% | – |
| EEP | Exit | ENBRIDGE ENERGY PTNunit lp | $0 | – | -30,005 | – | -0.36% | – |
| CAPL | Exit | CROSSAMERICA PARTNERS LPunit lp | $0 | – | -17,975 | – | -0.37% | – |
| KMI | Exit | KINDER MORGAN INC | $0 | – | -26,480 | – | -0.39% | – |
| PAGP | Exit | PLAINS GP HOLDINGS LPunit lp | $0 | – | -23,371 | – | -0.39% | – |
| DLTR | Exit | DOLLAR TREE INC | $0 | – | -6,000 | – | -0.40% | – |
| TRGP | Exit | TARGA RESOURCES CORP | $0 | – | -11,155 | – | -0.40% | – |
| ETP | Exit | ENERGY TRANSFER PTNunit lp | $0 | – | -29,889 | – | -0.42% | – |
| MRK | Exit | MERCK & CO INC | $0 | – | -8,560 | – | -0.42% | – |
| PAA | Exit | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $0 | – | -26,500 | – | -0.43% | – |
| XOM | Exit | EXXON MOBIL CORP | $0 | – | -6,870 | – | -0.43% | – |
| ET | Exit | ENERGY TRANSFER EQUITYunit lp | $0 | – | -36,370 | – | -0.48% | – |
| BPL | Exit | BUCKEYE PTNunit lp | $0 | – | -11,425 | – | -0.50% | – |
| NSH | Exit | NUSTAR GROUP HOLDINGS LLCunit llc | $0 | – | -30,495 | – | -0.51% | – |
| EPD | Exit | ENTERPRISE PRODUCTS PTNunit lp | $0 | – | -27,265 | – | -0.54% | – |
| CEM | Exit | CLEARBRIDGE ENERGY MLP FUND | $0 | – | -57,500 | – | -0.65% | – |
| MMP | Exit | MAGELLAN MIDSTREAM PTNunit lp | $0 | – | -13,030 | – | -0.71% | – |
| WPZ | Exit | WILLIAMS PARTNERS LPunit lp | $0 | – | -29,036 | – | -0.86% | – |
| ATHN | Exit | ATHENAHEALTH INC | $0 | – | -9,280 | – | -0.88% | – |
| OKE | Exit | ONEOK INC | $0 | – | -24,336 | – | -1.03% | – |
| ANTM | Exit | ANTHEM INC | $0 | – | -11,984 | – | -1.74% | – |
| EMR | Exit | EMERSON ELECTRIC CO | $0 | – | -59,365 | – | -2.84% | – |
| CNC | Exit | CENTENE CORP | $0 | – | -45,110 | – | -3.33% | – |
| CVS | Exit | CVS HEALTH CORP | $0 | – | -63,820 | – | -3.96% | – |
| NTRS | Exit | NORTHERN TRUST CORP | $0 | – | -59,392 | – | -4.16% | – |
| UTX | Exit | UNITED TECHNOLOGIES CORP | $0 | – | -47,947 | – | -4.24% | – |
| WFC | Exit | WELLS FARGO & CO. NEW | $0 | – | -105,500 | – | -4.44% | – |
| WBA | Exit | WALGREENS BOOTS ALLIANCE INC | $0 | – | -77,721 | – | -4.58% | – |
| ESRX | Exit | EXPRESS SCRIPTS HOLDING CO | $0 | – | -98,137 | – | -4.74% | – |
| PG | Exit | PROCTER & GAMBLE CO | $0 | – | -69,687 | – | -4.84% | – |
| JNJ | Exit | JOHNSON & JOHNSON | $0 | – | -49,566 | – | -4.91% | – |
| BLK | Exit | BLACKROCK INC. | $0 | – | -14,500 | – | -4.94% | – |
| MMM | Exit | 3M CO | $0 | – | -30,950 | – | -4.95% | – |
| PEP | Exit | PEPSICO INC | $0 | – | -60,637 | – | -5.15% | – |
| FDX | Exit | FEDEX CORP | $0 | – | -30,419 | – | -5.23% | – |
| TWX | Exit | TIME WARNER INC | $0 | – | -70,920 | – | -5.54% | – |
| CL | Exit | COLGATE PALMOLIVE CO | $0 | – | -102,332 | – | -5.68% | – |
| V | Exit | VISA INC | $0 | – | -73,294 | – | -5.88% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -42,613 | – | -5.96% | – |
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $7,812,000 | -17.5% | 42,613 | -23.7% | 5.96% | +2.0% |
| V | Sell | VISA INC | $7,713,000 | -19.4% | 73,294 | -28.2% | 5.88% | -0.4% |
| CL | Sell | COLGATE PALMOLIVE CO | $7,455,000 | -18.1% | 102,332 | -16.6% | 5.68% | +1.2% |
| TWX | Sell | TIME WARNER INC | $7,266,000 | -17.0% | 70,920 | -18.7% | 5.54% | +2.5% |
| FDX | Sell | FEDEX CORP | $6,862,000 | -26.3% | 30,419 | -29.0% | 5.23% | -8.9% |
| PEP | Sell | PEPSICO INC | $6,757,000 | -24.2% | 60,637 | -21.4% | 5.15% | -6.3% |
| MMM | Sell | 3M CO | $6,496,000 | -29.6% | 30,950 | -30.1% | 4.95% | -13.0% |
| BLK | Sell | BLACKROCK INC. | $6,483,000 | -14.8% | 14,500 | -19.5% | 4.94% | +5.2% |
| JNJ | Sell | JOHNSON & JOHNSON | $6,444,000 | -27.5% | 49,566 | -26.3% | 4.91% | -10.5% |
| PG | Sell | PROCTER & GAMBLE CO | $6,340,000 | -13.9% | 69,687 | -17.5% | 4.84% | +6.4% |
| ESRX | Sell | EXPRESS SCRIPTS HOLDING CO | $6,214,000 | -18.4% | 98,137 | -17.7% | 4.74% | +0.8% |
| WBA | Sell | WALGREENS BOOTS ALLIANCE INC | $6,002,000 | -23.7% | 77,721 | -22.6% | 4.58% | -5.7% |
| WFC | Sell | WELLS FARGO & CO. NEW | $5,818,000 | -16.8% | 105,500 | -16.4% | 4.44% | +2.8% |
| UTX | Sell | UNITED TECHNOLOGIES CORP | $5,566,000 | -24.6% | 47,947 | -20.7% | 4.24% | -6.8% |
| NTRS | Sell | NORTHERN TRUST CORP | $5,460,000 | -24.0% | 59,392 | -19.6% | 4.16% | -6.1% |
| CVS | Sell | CVS HEALTH CORP | $5,190,000 | -16.8% | 63,820 | -17.7% | 3.96% | +2.8% |
| CNC | Sell | CENTENE CORP | $4,365,000 | -1.2% | 45,110 | -18.4% | 3.33% | +22.1% |
| EMR | Sell | EMERSON ELECTRIC CO | $3,730,000 | -14.5% | 59,365 | -18.9% | 2.84% | +5.5% |
| OKE | Buy | ONEOK INC | $1,348,000 | +560.8% | 24,336 | +523.2% | 1.03% | +715.9% |
| WPZ | Sell | WILLIAMS PARTNERS LPunit lp | $1,130,000 | -6.4% | 29,036 | -3.5% | 0.86% | +15.7% |
| MMP | Sell | MAGELLAN MIDSTREAM PTNunit lp | $926,000 | -5.1% | 13,030 | -4.9% | 0.71% | +17.1% |
| CEM | Sell | CLEARBRIDGE ENERGY MLP FUND | $853,000 | -30.7% | 57,500 | -28.7% | 0.65% | -14.4% |
| EPD | Sell | ENTERPRISE PRODUCTS PTNunit lp | $711,000 | -20.8% | 27,265 | -17.8% | 0.54% | -2.2% |
| NSH | Sell | NUSTAR GROUP HOLDINGS LLCunit llc | $671,000 | -14.5% | 30,495 | -5.1% | 0.51% | +5.6% |
| BPL | Sell | BUCKEYE PTNunit lp | $651,000 | -16.0% | 11,425 | -5.7% | 0.50% | +3.8% |
| ET | Sell | ENERGY TRANSFER EQUITYunit lp | $632,000 | -9.2% | 36,370 | -6.2% | 0.48% | +12.1% |
| PAA | Sell | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $562,000 | -29.7% | 26,500 | -12.9% | 0.43% | -13.0% |
| ETP | Sell | ENERGY TRANSFER PTNunit lp | $547,000 | -15.8% | 29,889 | -6.3% | 0.42% | +4.0% |
| TRGP | Sell | TARGA RESOURCES CORP | $528,000 | -0.4% | 11,155 | -4.9% | 0.40% | +23.2% |
| PAGP | Sell | PLAINS GP HOLDINGS LPunit lp | $511,000 | -20.4% | 23,371 | -4.7% | 0.39% | -1.5% |
| CAPL | Sell | CROSSAMERICA PARTNERS LPunit lp | $490,000 | +3.4% | 17,975 | -3.3% | 0.37% | +27.6% |
| EEP | Sell | ENBRIDGE ENERGY PTNunit lp | $479,000 | -5.5% | 30,005 | -5.3% | 0.36% | +16.6% |
| TRP | Sell | TRANSCANADA CORP | $465,000 | -1.3% | 9,405 | -4.7% | 0.36% | +22.0% |
| TGE | Sell | TALLGRASS ENERGY GP LP | $412,000 | +4.0% | 14,600 | -6.3% | 0.31% | +28.7% |
| CEQP | Sell | CRESTWOOD EQUITY PTNunit lp | $398,000 | -1.2% | 16,299 | -4.9% | 0.30% | +22.1% |
| TEP | Sell | TALLGRASS ENERGY PARTNERS LP | $364,000 | -10.6% | 7,600 | -6.4% | 0.28% | +10.8% |
| TGP | Sell | TEEKAY LNG PTNunit lp | $318,000 | +7.4% | 17,865 | -7.5% | 0.24% | +32.2% |
| UPS | Sell | UNITED PARCEL SERVICE CL B | $276,000 | -24.2% | 2,295 | -30.3% | 0.21% | -6.7% |
| BWP | Sell | BOARDWALK PIPELINE PTNunit lp | $157,000 | -31.7% | 10,670 | -16.6% | 0.12% | -15.5% |
| AAPL | Exit | APPLE INC | $0 | – | -2,695 | – | -0.24% | – |
| FEN | Exit | FIRST TR ENERGY INCOME & GRW | $0 | – | -24,725 | – | -0.39% | – |
| OKS | Exit | ONEOK PARTNERSunit lp | $0 | – | -21,820 | – | -0.69% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| V | New | VISA INC | $9,567,000 | – | 102,018 | – | 5.91% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $9,464,000 | – | 55,876 | – | 5.84% | – |
| FDX | New | FEDEX CORP | $9,307,000 | – | 42,822 | – | 5.75% | – |
| MMM | New | 3M CO | $9,223,000 | – | 44,302 | – | 5.69% | – |
| CL | New | COLGATE PALMOLIVE CO | $9,099,000 | – | 122,750 | – | 5.62% | – |
| PEP | New | PEPSICO INC | $8,912,000 | – | 77,164 | – | 5.50% | – |
| JNJ | New | JOHNSON & JOHNSON | $8,892,000 | – | 67,216 | – | 5.49% | – |
| TWX | New | TIME WARNER INC | $8,754,000 | – | 87,185 | – | 5.40% | – |
| WBA | New | WALGREENS BOOTS ALLIANCE INC | $7,862,000 | – | 100,394 | – | 4.85% | – |
| ESRX | New | EXPRESS SCRIPTS HOLDING CO | $7,615,000 | – | 119,288 | – | 4.70% | – |
| BLK | New | BLACKROCK INC. | $7,612,000 | – | 18,020 | – | 4.70% | – |
| UTX | New | UNITED TECHNOLOGIES CORP | $7,379,000 | – | 60,432 | – | 4.56% | – |
| PG | New | PROCTER & GAMBLE CO | $7,361,000 | – | 84,468 | – | 4.54% | – |
| NTRS | New | NORTHERN TRUST CORP | $7,183,000 | – | 73,892 | – | 4.43% | – |
| WFC | New | WELLS FARGO & CO. NEW | $6,992,000 | – | 126,190 | – | 4.32% | – |
| CVS | New | CVS HEALTH CORP | $6,237,000 | – | 77,520 | – | 3.85% | – |
| CNC | New | CENTENE CORP | $4,417,000 | – | 55,295 | – | 2.73% | – |
| EMR | New | EMERSON ELECTRIC CO | $4,365,000 | – | 73,212 | – | 2.70% | – |
| ANTM | New | ANTHEM INC | $2,255,000 | – | 11,984 | – | 1.39% | – |
| ATHN | New | ATHENAHEALTH INC | $1,304,000 | – | 9,280 | – | 0.80% | – |
| CEM | New | CLEARBRIDGE ENERGY MLP FUND | $1,230,000 | – | 80,605 | – | 0.76% | – |
| WPZ | New | WILLIAMS PARTNERS LPunit lp | $1,207,000 | – | 30,103 | – | 0.74% | – |
| OKS | New | ONEOK PARTNERSunit lp | $1,114,000 | – | 21,820 | – | 0.69% | – |
| MMP | New | MAGELLAN MIDSTREAM PTNunit lp | $976,000 | – | 13,695 | – | 0.60% | – |
| EPD | New | ENTERPRISE PRODUCTS PTNunit lp | $898,000 | – | 33,168 | – | 0.55% | – |
| PAA | New | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $799,000 | – | 30,432 | – | 0.49% | – |
| NSH | New | NUSTAR GROUP HOLDINGS LLCunit llc | $785,000 | – | 32,124 | – | 0.48% | – |
| BPL | New | BUCKEYE PTNunit lp | $775,000 | – | 12,118 | – | 0.48% | – |
| ET | New | ENERGY TRANSFER EQUITYunit lp | $696,000 | – | 38,762 | – | 0.43% | – |
| ETP | New | ENERGY TRANSFER PTNunit lp | $650,000 | – | 31,894 | – | 0.40% | – |
| PAGP | New | PLAINS GP HOLDINGS LPunit lp | $642,000 | – | 24,533 | – | 0.40% | – |
| FEN | New | FIRST TR ENERGY INCOME & GRW | $629,000 | – | 24,725 | – | 0.39% | – |
| XOM | New | EXXON MOBIL CORP | $555,000 | – | 6,870 | – | 0.34% | – |
| MRK | New | MERCK & CO INC | $549,000 | – | 8,560 | – | 0.34% | – |
| TRGP | New | TARGA RESOURCES CORP | $530,000 | – | 11,727 | – | 0.33% | – |
| KMI | New | KINDER MORGAN INC | $507,000 | – | 26,480 | – | 0.31% | – |
| EEP | New | ENBRIDGE ENERGY PTNunit lp | $507,000 | – | 31,677 | – | 0.31% | – |
| CAPL | New | CROSSAMERICA PARTNERS LPunit lp | $474,000 | – | 18,580 | – | 0.29% | – |
| TRP | New | TRANSCANADA CORP | $471,000 | – | 9,870 | – | 0.29% | – |
| DLTR | New | DOLLAR TREE INC | $420,000 | – | 6,000 | – | 0.26% | – |
| TEP | New | TALLGRASS ENERGY PARTNERS LP | $407,000 | – | 8,120 | – | 0.25% | – |
| CEQP | New | CRESTWOOD EQUITY PTNunit lp | $403,000 | – | 17,137 | – | 0.25% | – |
| TGE | New | TALLGRASS ENERGY GP LP | $396,000 | – | 15,585 | – | 0.24% | – |
| AAPL | New | APPLE INC | $388,000 | – | 2,695 | – | 0.24% | – |
| FIS | New | FIDELITY NATIONAL INFORMATION | $381,000 | – | 4,467 | – | 0.24% | – |
| UPS | New | UNITED PARCEL SERVICE CL B | $364,000 | – | 3,295 | – | 0.22% | – |
| TGP | New | TEEKAY LNG PTNunit lp | $296,000 | – | 19,310 | – | 0.18% | – |
| T | New | AT&T INC | $266,000 | – | 7,048 | – | 0.16% | – |
| PFE | New | PFIZER INC | $233,000 | – | 6,944 | – | 0.14% | – |
| BWP | New | BOARDWALK PIPELINE PTNunit lp | $230,000 | – | 12,797 | – | 0.14% | – |
| OKE | New | ONEOK INC | $204,000 | – | 3,905 | – | 0.13% | – |
| VZ | New | VERIZON COMMUNICATIONS INC | $202,000 | – | 4,515 | – | 0.12% | – |
Q4 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| OKE | Exit | ONEOK INC | $0 | – | -3,905 | – | -0.13% | – |
| BWP | Exit | BOARDWALK PIPELINE PTNunit lp | $0 | – | -14,799 | – | -0.17% | – |
| SPH | Exit | SUBURBAN PROPANE PTNunit lp | $0 | – | -8,365 | – | -0.19% | – |
| TGP | Exit | TEEKAY LNG PTNunit lp | $0 | – | -19,310 | – | -0.20% | – |
| AAPL | Exit | APPLE INC | $0 | – | -2,695 | – | -0.20% | – |
| FIS | Exit | FIDELITY NATIONAL INFORMATION | $0 | – | -4,467 | – | -0.23% | – |
| UPS | Exit | UNITED PARCEL SERVICE CL B | $0 | – | -3,295 | – | -0.24% | – |
| CEQP | Exit | CRESTWOOD EQUITY PTNunit lp | $0 | – | -17,727 | – | -0.25% | – |
| TRP | Exit | TRANSCANADA CORP | $0 | – | -9,870 | – | -0.31% | – |
| CAPL | Exit | CROSSAMERICA PARTNERS LPunit lp | $0 | – | -18,580 | – | -0.32% | – |
| DLTR | Exit | DOLLAR TREE INC | $0 | – | -6,000 | – | -0.32% | – |
| MRK | Exit | MERCK & CO INC | $0 | – | -8,560 | – | -0.36% | – |
| TRGP | Exit | TARGA RESOURCES CORP | $0 | – | -11,727 | – | -0.38% | – |
| XOM | Exit | EXXON MOBIL CORP | $0 | – | -6,870 | – | -0.40% | – |
| KMI | Exit | KINDER MORGAN INC | $0 | – | -26,480 | – | -0.41% | – |
| ET | Exit | ENERGY TRANSFER EQUITYunit lp | $0 | – | -38,762 | – | -0.44% | – |
| FEN | Exit | FIRST TR ENERGY INCOME & GRW | $0 | – | -24,725 | – | -0.45% | – |
| ETP | Exit | ENERGY TRANSFER PTNunit lp | $0 | – | -21,261 | – | -0.53% | – |
| NSH | Exit | NUSTAR GROUP HOLDINGS LLCunit llc | $0 | – | -32,124 | – | -0.55% | – |
| PAGP | Exit | PLAINS GP HOLDINGS LPunit lp | $0 | – | -65,345 | – | -0.56% | – |
| OKS | Exit | ONEOK PARTNERSunit lp | $0 | – | -21,820 | – | -0.58% | – |
| BPL | Exit | BUCKEYE PTNunit lp | $0 | – | -12,198 | – | -0.58% | – |
| EEP | Exit | ENBRIDGE ENERGY PTNunit lp | $0 | – | -34,380 | – | -0.58% | – |
| EPD | Exit | ENTERPRISE PRODUCTS PTNunit lp | $0 | – | -33,768 | – | -0.62% | – |
| PAA | Exit | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $0 | – | -30,432 | – | -0.64% | – |
| MMP | Exit | MAGELLAN MIDSTREAM PTNunit lp | $0 | – | -13,695 | – | -0.65% | – |
| WPZ | Exit | WILLIAMS PARTNERS LPunit lp | $0 | – | -30,103 | – | -0.75% | – |
| ATHN | Exit | ATHENAHEALTH INC | $0 | – | -9,308 | – | -0.78% | – |
| CEM | Exit | CLEARBRIDGE ENERGY MLP FUND | $0 | – | -80,605 | – | -0.88% | – |
| ANTM | Exit | ANTHEM INC | $0 | – | -12,927 | – | -1.08% | – |
| CNC | Exit | CENTENE CORP | $0 | – | -54,995 | – | -2.46% | – |
| EMR | Exit | EMERSON ELECTRIC CO | $0 | – | -74,257 | – | -2.70% | – |
| NTRS | Exit | NORTHERN TRUST CORP | $0 | – | -77,726 | – | -3.53% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -89,757 | – | -3.84% | – |
| WFC | Exit | WELLS FARGO & CO. NEW | $0 | – | -129,910 | – | -3.84% | – |
| UTX | Exit | UNITED TECHNOLOGIES CORP | $0 | – | -62,169 | – | -4.22% | – |
| CVS | Exit | CVS HEALTH CORP | $0 | – | -71,940 | – | -4.28% | – |
| TWX | Exit | TIME WARNER INC | $0 | – | -90,480 | – | -4.81% | – |
| PG | Exit | PROCTER & GAMBLE CO | $0 | – | -86,755 | – | -5.20% | – |
| FDX | Exit | FEDEX CORP | $0 | – | -44,727 | – | -5.22% | – |
| JNJ | Exit | JOHNSON & JOHNSON | $0 | – | -69,606 | – | -5.49% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -58,206 | – | -5.62% | – |
| MMM | Exit | 3M CO | $0 | – | -48,082 | – | -5.66% | – |
| WBA | Exit | WALGREENS BOOTS ALLIANCE INC | $0 | – | -106,019 | – | -5.71% | – |
| V | Exit | VISA INC | $0 | – | -104,533 | – | -5.77% | – |
| PEP | Exit | PEPSICO INC | $0 | – | -79,667 | – | -5.79% | – |
| ESRX | Exit | EXPRESS SCRIPTS HOLDING CO | $0 | – | -125,295 | – | -5.90% | – |
| CL | Exit | COLGATE PALMOLIVE CO | $0 | – | -125,000 | – | -6.19% | – |
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CL | Sell | COLGATE PALMOLIVE CO | $9,267,000 | -0.7% | 125,000 | -1.9% | 6.19% | -0.4% |
| ESRX | Sell | EXPRESS SCRIPTS HOLDING CO | $8,837,000 | -8.1% | 125,295 | -1.2% | 5.90% | -7.8% |
| PEP | Sell | PEPSICO INC | $8,665,000 | +0.3% | 79,667 | -2.3% | 5.79% | +0.5% |
| V | Sell | VISA INC | $8,645,000 | +8.6% | 104,533 | -2.6% | 5.77% | +8.9% |
| WBA | Sell | WALGREENS BOOTS ALLIANCE INC | $8,547,000 | -5.1% | 106,019 | -2.0% | 5.71% | -4.9% |
| MMM | Sell | 3M CO | $8,473,000 | -2.3% | 48,082 | -2.9% | 5.66% | -2.0% |
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $8,409,000 | -1.9% | 58,206 | -1.7% | 5.62% | -1.7% |
| JNJ | Sell | JOHNSON & JOHNSON | $8,223,000 | -4.5% | 69,606 | -1.9% | 5.49% | -4.3% |
| FDX | Sell | FEDEX CORP | $7,813,000 | +12.6% | 44,727 | -2.2% | 5.22% | +12.9% |
| PG | Sell | PROCTER & GAMBLE CO | $7,786,000 | +3.9% | 86,755 | -2.0% | 5.20% | +4.2% |
| TWX | Sell | TIME WARNER INC | $7,203,000 | +6.1% | 90,480 | -2.0% | 4.81% | +6.4% |
| CVS | Sell | CVS HEALTH CORP | $6,402,000 | -9.3% | 71,940 | -2.4% | 4.28% | -9.1% |
| UTX | Sell | UNITED TECHNOLOGIES CORP | $6,316,000 | -3.5% | 62,169 | -2.6% | 4.22% | -3.2% |
| WFC | Sell | WELLS FARGO & CO. NEW | $5,752,000 | -8.4% | 129,910 | -2.1% | 3.84% | -8.1% |
| AXP | Sell | AMERICAN EXPRESS CO | $5,748,000 | +3.5% | 89,757 | -1.8% | 3.84% | +3.8% |
| NTRS | Sell | NORTHERN TRUST CORP | $5,285,000 | -0.3% | 77,726 | -2.8% | 3.53% | -0.0% |
| EMR | Sell | EMERSON ELECTRIC CO | $4,048,000 | +2.4% | 74,257 | -2.0% | 2.70% | +2.7% |
| CNC | Sell | CENTENE CORP | $3,682,000 | -7.8% | 54,995 | -1.7% | 2.46% | -7.6% |
| MMP | Sell | MAGELLAN MIDSTREAM PTNunit lp | $969,000 | -8.7% | 13,695 | -1.9% | 0.65% | -8.5% |
| PAGP | Buy | PLAINS GP HOLDINGS LPunit lp | $846,000 | +25.0% | 65,345 | +0.6% | 0.56% | +25.3% |
| AAPL | Buy | APPLE INC | $305,000 | +47.3% | 2,695 | +24.2% | 0.20% | +47.8% |
| OKE | New | ONEOK INC | $201,000 | – | 3,905 | – | 0.13% | – |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | New | EXPRESS SCRIPTS HOLDING CO | $9,613,000 | – | 126,819 | – | 6.40% | – |
| CL | New | COLGATE PALMOLIVE CO | $9,329,000 | – | 127,448 | – | 6.21% | – |
| WBA | New | WALGREENS BOOTS ALLIANCE INC | $9,009,000 | – | 108,189 | – | 6.00% | – |
| MMM | New | 3M CO | $8,669,000 | – | 49,503 | – | 5.77% | – |
| PEP | New | PEPSICO INC | $8,642,000 | – | 81,578 | – | 5.76% | – |
| JNJ | New | JOHNSON & JOHNSON | $8,611,000 | – | 70,985 | – | 5.74% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $8,574,000 | – | 59,219 | – | 5.71% | – |
| V | New | VISA INC | $7,962,000 | – | 107,353 | – | 5.30% | – |
| PG | New | PROCTER & GAMBLE CO | $7,493,000 | – | 88,501 | – | 4.99% | – |
| CVS | New | CVS HEALTH CORP | $7,059,000 | – | 73,730 | – | 4.70% | – |
| FDX | New | FEDEX CORP | $6,941,000 | – | 45,732 | – | 4.62% | – |
| TWX | New | TIME WARNER INC | $6,789,000 | – | 92,320 | – | 4.52% | – |
| UTX | New | UNITED TECHNOLOGIES CORP | $6,545,000 | – | 63,824 | – | 4.36% | – |
| WFC | New | WELLS FARGO & CO. NEW | $6,279,000 | – | 132,670 | – | 4.18% | – |
| AXP | New | AMERICAN EXPRESS CO | $5,551,000 | – | 91,364 | – | 3.70% | – |
| NTRS | New | NORTHERN TRUST CORP | $5,301,000 | – | 80,002 | – | 3.53% | – |
| CNC | New | CENTENE CORP | $3,994,000 | – | 55,965 | – | 2.66% | – |
| EMR | New | EMERSON ELECTRIC CO | $3,954,000 | – | 75,807 | – | 2.63% | – |
| ANTM | New | ANTHEM INC | $1,698,000 | – | 12,927 | – | 1.13% | – |
| ATHN | New | ATHENAHEALTH INC | $1,285,000 | – | 9,308 | – | 0.86% | – |
| CEM | New | CLEARBRIDGE ENERGY MLP FUND | $1,284,000 | – | 80,605 | – | 0.86% | – |
| MMP | New | MAGELLAN MIDSTREAM PTNunit lp | $1,061,000 | – | 13,965 | – | 0.71% | – |
| WPZ | New | WILLIAMS PARTNERS LPunit lp | $1,043,000 | – | 30,103 | – | 0.70% | – |
| EPD | New | ENTERPRISE PRODUCTS PTNunit lp | $988,000 | – | 33,768 | – | 0.66% | – |
| OKS | New | ONEOK PARTNERSunit lp | $874,000 | – | 21,820 | – | 0.58% | – |
| BPL | New | BUCKEYE PTNunit lp | $858,000 | – | 12,198 | – | 0.57% | – |
| PAA | New | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $837,000 | – | 30,432 | – | 0.56% | – |
| NSH | New | NUSTAR GROUP HOLDINGS LLCunit llc | $824,000 | – | 32,124 | – | 0.55% | – |
| ETP | New | ENERGY TRANSFER PTNunit lp | $809,000 | – | 21,261 | – | 0.54% | – |
| EEP | New | ENBRIDGE ENERGY PTNunit lp | $798,000 | – | 34,380 | – | 0.53% | – |
| PAGP | New | PLAINS GP HOLDINGS LPunit lp | $677,000 | – | 64,945 | – | 0.45% | – |
| XOM | New | EXXON MOBIL CORP | $644,000 | – | 6,870 | – | 0.43% | – |
| FEN | New | FIRST TR ENERGY INCOME & GRW | $630,000 | – | 24,725 | – | 0.42% | – |
| DLTR | New | DOLLAR TREE INC | $565,000 | – | 6,000 | – | 0.38% | – |
| ET | New | ENERGY TRANSFER EQUITYunit lp | $557,000 | – | 38,762 | – | 0.37% | – |
| KMI | New | KINDER MORGAN INC | $496,000 | – | 26,480 | – | 0.33% | – |
| TRGP | New | TARGA RESOURCES CORP | $494,000 | – | 11,727 | – | 0.33% | – |
| MRK | New | MERCK & CO INC | $493,000 | – | 8,560 | – | 0.33% | – |
| CAPL | New | CROSSAMERICA PARTNERS LPunit lp | $456,000 | – | 18,580 | – | 0.30% | – |
| TRP | New | TRANSCANADA CORP | $446,000 | – | 9,870 | – | 0.30% | – |
| CEQP | New | CRESTWOOD EQUITY PTNunit lp | $357,000 | – | 17,727 | – | 0.24% | – |
| UPS | New | UNITED PARCEL SERVICE CL B | $355,000 | – | 3,295 | – | 0.24% | – |
| FIS | New | FIDELITY NATIONAL INFORMATION | $329,000 | – | 4,467 | – | 0.22% | – |
| SPH | New | SUBURBAN PROPANE PTNunit lp | $279,000 | – | 8,365 | – | 0.19% | – |
| BWP | New | BOARDWALK PIPELINE PTNunit lp | $258,000 | – | 14,799 | – | 0.17% | – |
| TGP | New | TEEKAY LNG PTNunit lp | $217,000 | – | 19,310 | – | 0.14% | – |
| AAPL | New | APPLE INC | $207,000 | – | 2,170 | – | 0.14% | – |
Q4 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BWP | Exit | BOARDWALK PIPELINE PTNunit lp | $0 | – | -15,099 | – | -0.13% | – |
| AAPL | Exit | APPLE INC | $0 | – | -1,820 | – | -0.14% | – |
| ARLP | Exit | ALLIANCE RESOURCE PTNunit lp | $0 | – | -9,558 | – | -0.15% | – |
| CAPL | Exit | CROSSAMERICA PARTNERS LPunit lp | $0 | – | -10,725 | – | -0.17% | – |
| NSH | Exit | NUSTAR GROUP HOLDINGS LLCunit llc | $0 | – | -9,699 | – | -0.18% | – |
| OKS | Exit | ONEOK PARTNERSunit lp | $0 | – | -8,880 | – | -0.18% | – |
| SPH | Exit | SUBURBAN PROPANE PTNunit lp | $0 | – | -8,365 | – | -0.20% | – |
| CEQP | Exit | CRESTWOOD EQUITY PTNunit lp | $0 | – | -127,803 | – | -0.21% | – |
| FIS | Exit | FIDELITY NATIONAL INFORMATION | $0 | – | -4,467 | – | -0.21% | – |
| PAGP | Exit | PLAINS GP HOLDINGS LPunit lp | $0 | – | -17,325 | – | -0.21% | – |
| UPS | Exit | UNITED PARCEL SERVICE CL B | $0 | – | -3,295 | – | -0.23% | – |
| TGP | Exit | TEEKAY LNG PTNunit lp | $0 | – | -14,140 | – | -0.24% | – |
| ETP | Exit | ENERGY TRANSFER PTNunit lp | $0 | – | -9,191 | – | -0.27% | – |
| EEP | Exit | ENBRIDGE ENERGY PTNunit lp | $0 | – | -15,565 | – | -0.27% | – |
| DLTR | Exit | DOLLAR TREE INC | $0 | – | -6,000 | – | -0.28% | – |
| MRK | Exit | MERCK & CO INC | $0 | – | -8,560 | – | -0.30% | – |
| PAA | Exit | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $0 | – | -14,162 | – | -0.30% | – |
| WPZ | Exit | WILLIAMS PARTNERS LPunit lp | $0 | – | -13,518 | – | -0.30% | – |
| BPL | Exit | BUCKEYE PTNunit lp | $0 | – | -7,313 | – | -0.31% | – |
| XOM | Exit | EXXON MOBIL CORP | $0 | – | -6,870 | – | -0.36% | – |
| EPD | Exit | ENTERPRISE PRODUCTS PTNunit lp | $0 | – | -20,868 | – | -0.37% | – |
| ET | Exit | ENERGY TRANSFER EQUITYunit lp | $0 | – | -27,397 | – | -0.40% | – |
| FEN | Exit | FIRST TR ENERGY INCOME & GRW | $0 | – | -24,725 | – | -0.44% | – |
| MMP | Exit | MAGELLAN MIDSTREAM PTNunit lp | $0 | – | -10,762 | – | -0.46% | – |
| ATHN | Exit | ATHENAHEALTH INC | $0 | – | -9,328 | – | -0.88% | – |
| CEM | Exit | CLEARBRIDGE ENERGY MLP FUND | $0 | – | -79,910 | – | -0.98% | – |
| ANTM | Exit | ANTHEM INC | $0 | – | -14,927 | – | -1.48% | – |
| CMI | Exit | CUMMINS INC | $0 | – | -32,076 | – | -2.46% | – |
| EMR | Exit | EMERSON ELECTRIC CO | $0 | – | -112,783 | – | -3.52% | – |
| NTRS | Exit | NORTHERN TRUST CORP | $0 | – | -79,664 | – | -3.84% | – |
| UTX | Exit | UNITED TECHNOLOGIES CORP | $0 | – | -66,843 | – | -4.21% | – |
| WMT | Exit | WAL MART STORES INC | $0 | – | -98,826 | – | -4.53% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -87,405 | – | -4.58% | – |
| PG | Exit | PROCTER & GAMBLE CO | $0 | – | -91,863 | – | -4.68% | – |
| FDX | Exit | FEDEX CORP | $0 | – | -47,927 | – | -4.88% | – |
| JNJ | Exit | JOHNSON & JOHNSON | $0 | – | -74,825 | – | -4.94% | – |
| WFC | Exit | WELLS FARGO & CO. NEW | $0 | – | -137,900 | – | -5.01% | – |
| CVS | Exit | CVS HEALTH CORP | $0 | – | -76,840 | – | -5.24% | – |
| MMM | Exit | 3M CO | $0 | – | -52,818 | – | -5.30% | – |
| V | Exit | VISA INC | $0 | – | -111,668 | – | -5.50% | – |
| PEP | Exit | PEPSICO INC | $0 | – | -85,013 | – | -5.67% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -61,949 | – | -5.72% | – |
| CL | Exit | COLGATE PALMOLIVE CO | $0 | – | -133,313 | – | -5.98% | – |
| WBA | Exit | WALGREENS BOOTS ALLIANCE INC | $0 | – | -114,755 | – | -6.75% | – |
| ESRX | Exit | EXPRESS SCRIPTS HOLDING CO | $0 | – | -131,030 | – | -7.50% | – |
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | Sell | EXPRESS SCRIPTS HOLDING CO | $10,608,000 | -16.5% | 131,030 | -8.3% | 7.50% | -3.7% |
| WBA | Sell | WALGREENS BOOTS ALLIANCE INC | $9,536,000 | -14.3% | 114,755 | -12.9% | 6.75% | -1.1% |
| CL | Sell | COLGATE PALMOLIVE CO | $8,460,000 | -8.4% | 133,313 | -5.6% | 5.98% | +5.6% |
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $8,078,000 | -11.4% | 61,949 | -7.6% | 5.72% | +2.1% |
| PEP | Sell | PEPSICO INC | $8,017,000 | -5.4% | 85,013 | -6.4% | 5.67% | +9.1% |
| V | Sell | VISA INC | $7,779,000 | -2.6% | 111,668 | -6.1% | 5.50% | +12.3% |
| MMM | Sell | 3M CO | $7,488,000 | -12.0% | 52,818 | -4.2% | 5.30% | +1.5% |
| CVS | Sell | CVS HEALTH CORP | $7,414,000 | -19.5% | 76,840 | -12.5% | 5.24% | -7.2% |
| WFC | Sell | WELLS FARGO & CO. NEW | $7,081,000 | -13.0% | 137,900 | -4.8% | 5.01% | +0.3% |
| JNJ | Sell | JOHNSON & JOHNSON | $6,985,000 | -10.5% | 74,825 | -6.6% | 4.94% | +3.2% |
| FDX | Sell | FEDEX CORP | $6,901,000 | -19.5% | 47,927 | -4.8% | 4.88% | -7.2% |
| PG | Sell | PROCTER & GAMBLE CO | $6,609,000 | -12.5% | 91,863 | -4.8% | 4.68% | +0.9% |
| AXP | Sell | AMERICAN EXPRESS CO | $6,479,000 | -8.5% | 87,405 | -4.1% | 4.58% | +5.5% |
| WMT | Sell | WAL MART STORES INC | $6,408,000 | -13.6% | 98,826 | -5.5% | 4.53% | -0.3% |
| UTX | Sell | UNITED TECHNOLOGIES CORP | $5,948,000 | -22.8% | 66,843 | -3.7% | 4.21% | -10.9% |
| NTRS | Sell | NORTHERN TRUST CORP | $5,430,000 | -21.0% | 79,664 | -11.4% | 3.84% | -8.9% |
| EMR | Sell | EMERSON ELECTRIC CO | $4,982,000 | -22.7% | 112,783 | -3.0% | 3.52% | -10.8% |
| CMI | Sell | CUMMINS INC | $3,483,000 | -21.8% | 32,076 | -5.5% | 2.46% | -9.8% |
| CEM | Sell | CLEARBRIDGE ENERGY MLP FUND | $1,384,000 | -26.5% | 79,910 | -1.2% | 0.98% | -15.2% |
| MMP | Buy | MAGELLAN MIDSTREAM PTNunit lp | $647,000 | -7.6% | 10,762 | +12.8% | 0.46% | +6.8% |
| FEN | Buy | FIRST TR ENERGY INCOME & GRW | $628,000 | -5.3% | 24,725 | +17.2% | 0.44% | +9.1% |
| ET | Buy | ENERGY TRANSFER EQUITYunit lp | $570,000 | -25.2% | 27,397 | +130.7% | 0.40% | -13.7% |
| EPD | Buy | ENTERPRISE PRODUCTS PTNunit lp | $520,000 | +0.4% | 20,868 | +20.4% | 0.37% | +15.7% |
| BPL | Buy | BUCKEYE PTNunit lp | $433,000 | -0.5% | 7,313 | +24.4% | 0.31% | +14.6% |
| WPZ | Buy | WILLIAMS PARTNERS LPunit lp | $431,000 | -18.4% | 13,518 | +24.1% | 0.30% | -5.9% |
| PAA | Buy | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $430,000 | -12.4% | 14,162 | +25.8% | 0.30% | +1.0% |
| MRK | Sell | MERCK & CO INC | $423,000 | -27.4% | 8,560 | -16.4% | 0.30% | -16.5% |
| EEP | Buy | ENBRIDGE ENERGY PTNunit lp | $385,000 | -2.3% | 15,565 | +31.5% | 0.27% | +12.4% |
| ETP | Buy | ENERGY TRANSFER PTNunit lp | $377,000 | +1.1% | 9,191 | +28.7% | 0.27% | +16.6% |
| TGP | Buy | TEEKAY LNG PTNunit lp | $338,000 | +3.7% | 14,140 | +39.7% | 0.24% | +19.5% |
| UPS | Sell | UNITED PARCEL SERVICE CL B | $325,000 | -4.1% | 3,295 | -5.9% | 0.23% | +10.6% |
| PAGP | Buy | PLAINS GP HOLDINGS LPunit lp | $303,000 | +5.2% | 17,325 | +55.7% | 0.21% | +20.9% |
| CEQP | Buy | CRESTWOOD EQUITY PTNunit lp | $291,000 | +254.9% | 127,803 | +543.1% | 0.21% | +312.0% |
| OKS | New | ONEOK PARTNERSunit lp | $260,000 | – | 8,880 | – | 0.18% | – |
| CAPL | Buy | CROSSAMERICA PARTNERS LPunit lp | $245,000 | +1.2% | 10,725 | +25.1% | 0.17% | +16.9% |
| AAPL | New | APPLE INC | $201,000 | – | 1,820 | – | 0.14% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | New | EXPRESS SCRIPTS HOLDING CO | $12,711,000 | – | 142,918 | – | 7.80% | – |
| WBA | New | WALGREENS BOOTS ALLIANCE INC | $11,121,000 | – | 131,700 | – | 6.82% | – |
| CL | New | COLGATE PALMOLIVE CO | $9,238,000 | – | 141,234 | – | 5.67% | – |
| CVS | New | CVS HEALTH CORP | $9,213,000 | – | 87,845 | – | 5.65% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $9,122,000 | – | 67,022 | – | 5.60% | – |
| FDX | New | FEDEX CORP | $8,577,000 | – | 50,337 | – | 5.26% | – |
| MMM | New | 3M CO | $8,508,000 | – | 55,138 | – | 5.22% | – |
| PEP | New | PEPSICO INC | $8,476,000 | – | 90,808 | – | 5.20% | – |
| WFC | New | WELLS FARGO & CO. NEW | $8,143,000 | – | 144,795 | – | 5.00% | – |
| V | New | VISA INC | $7,986,000 | – | 118,928 | – | 4.90% | – |
| JNJ | New | JOHNSON & JOHNSON | $7,806,000 | – | 80,095 | – | 4.79% | – |
| UTX | New | UNITED TECHNOLOGIES CORP | $7,701,000 | – | 69,418 | – | 4.72% | – |
| PG | New | PROCTER & GAMBLE CO | $7,551,000 | – | 96,513 | – | 4.63% | – |
| WMT | New | WAL MART STORES INC | $7,416,000 | – | 104,553 | – | 4.55% | – |
| AXP | New | AMERICAN EXPRESS CO | $7,081,000 | – | 91,115 | – | 4.34% | – |
| NTRS | New | NORTHERN TRUST CORP | $6,874,000 | – | 89,908 | – | 4.22% | – |
| EMR | New | EMERSON ELECTRIC CO | $6,443,000 | – | 116,233 | – | 3.95% | – |
| CMI | New | CUMMINS INC | $4,453,000 | – | 33,946 | – | 2.73% | – |
| ANTM | New | ANTHEM INC | $2,450,000 | – | 14,927 | – | 1.50% | – |
| CEM | New | CLEARBRIDGE ENERGY MLP FUND | $1,882,000 | – | 80,910 | – | 1.15% | – |
| ATHN | New | ATHENAHEALTH INC | $1,069,000 | – | 9,328 | – | 0.66% | – |
| ET | New | ENERGY TRANSFER EQUITYunit lp | $762,000 | – | 11,876 | – | 0.47% | – |
| MMP | New | MAGELLAN MIDSTREAM PTNunit lp | $700,000 | – | 9,538 | – | 0.43% | – |
| FEN | New | FIRST TR ENERGY INCOME & GRW | $663,000 | – | 21,100 | – | 0.41% | – |
| MRK | New | MERCK & CO INC | $583,000 | – | 10,242 | – | 0.36% | – |
| XOM | New | EXXON MOBIL CORP | $572,000 | – | 6,870 | – | 0.35% | – |
| WPZ | New | WILLIAMS PARTNERS LPunit lp | $528,000 | – | 10,893 | – | 0.32% | – |
| EPD | New | ENTERPRISE PRODUCTS PTNunit lp | $518,000 | – | 17,333 | – | 0.32% | – |
| PAA | New | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $491,000 | – | 11,262 | – | 0.30% | – |
| DLTR | New | DOLLAR TREE INC | $474,000 | – | 6,000 | – | 0.29% | – |
| BPL | New | BUCKEYE PTNunit lp | $435,000 | – | 5,878 | – | 0.27% | – |
| EEP | New | ENBRIDGE ENERGY PTNunit lp | $394,000 | – | 11,835 | – | 0.24% | – |
| ETP | New | ENERGY TRANSFER PTNunit lp | $373,000 | – | 7,141 | – | 0.23% | – |
| NSH | New | NUSTAR GROUP HOLDINGS LLCunit llc | $369,000 | – | 9,699 | – | 0.23% | – |
| UPS | New | UNITED PARCEL SERVICE CL B | $339,000 | – | 3,500 | – | 0.21% | – |
| SPH | New | SUBURBAN PROPANE PTNunit lp | $334,000 | – | 8,365 | – | 0.20% | – |
| TGP | New | TEEKAY LNG PTNunit lp | $326,000 | – | 10,120 | – | 0.20% | – |
| PAGP | New | PLAINS GP HOLDINGS LPunit lp | $288,000 | – | 11,130 | – | 0.18% | – |
| FIS | New | FIDELITY NATIONAL INFORMATION | $276,000 | – | 4,467 | – | 0.17% | – |
| CAPL | New | CROSSAMERICA PARTNERS LPunit lp | $242,000 | – | 8,575 | – | 0.15% | – |
| ARLP | New | ALLIANCE RESOURCE PTNunit lp | $239,000 | – | 9,558 | – | 0.15% | – |
| BWP | New | BOARDWALK PIPELINE PTNunit lp | $219,000 | – | 15,099 | – | 0.13% | – |
| CEQP | New | CRESTWOOD EQUITY PTNunit lp | $82,000 | – | 19,874 | – | 0.05% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CEQP | Exit | CRESTWOOD EQUITY PTNunit lp | $0 | – | -17,068 | – | -0.10% | – |
| MWE | Exit | MARKWEST ENERGY PTNunit lp | $0 | – | -2,939 | – | -0.13% | – |
| LINEQ | Exit | LINN ENERGY LLCunit llc | $0 | – | -7,598 | – | -0.13% | – |
| FIS | Exit | FIDELITY NATIONAL INFORMATION | $0 | – | -4,467 | – | -0.15% | – |
| BWP | Exit | BOARDWALK PIPELINE PTNunit lp | $0 | – | -14,150 | – | -0.16% | – |
| OKS | Exit | ONEOK PTNunit lp | $0 | – | -5,100 | – | -0.17% | – |
| DLTR | Exit | DOLLAR TREE INC | $0 | – | -6,000 | – | -0.20% | – |
| UPS | Exit | UNITED PARCEL SERVICE CL B | $0 | – | -3,500 | – | -0.20% | – |
| SPH | Exit | SUBURBAN PROPANE PTNunit lp | $0 | – | -7,797 | – | -0.20% | – |
| ARLP | Exit | ALLIANCE RESOURCE PTNunit lp | $0 | – | -8,898 | – | -0.22% | – |
| NSH | Exit | NUSTAR GROUP HOLDINGS LLCunit llc | $0 | – | -8,884 | – | -0.22% | – |
| TGP | Exit | TEEKAY LNG PTNunit lp | $0 | – | -9,455 | – | -0.24% | – |
| ETP | Exit | ENERGY TRANSFER PTNunit lp | $0 | – | -6,706 | – | -0.25% | – |
| BPL | Exit | BUCKEYE PTNunit lp | $0 | – | -5,513 | – | -0.26% | – |
| EEP | Exit | ENBRIDGE ENERGY PTNunit lp | $0 | – | -12,020 | – | -0.27% | – |
| MRK | Exit | MERCK & CO | $0 | – | -10,242 | – | -0.35% | – |
| L109PS | Exit | ACCESS MIDSTREAM PTNunit lp | $0 | – | -9,760 | – | -0.36% | – |
| XOM | Exit | EXXON MOBIL CORP | $0 | – | -6,870 | – | -0.38% | – |
| 4945SC | Exit | KINDER MORGAN ENERGY PTNunit lp | $0 | – | -7,246 | – | -0.39% | – |
| PAA | Exit | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $0 | – | -11,562 | – | -0.40% | – |
| ET | Exit | ENERGY TRANSFER EQUITYunit lp | $0 | – | -11,376 | – | -0.41% | – |
| EPD | Exit | ENTERPRISE PRODUCTS PTNunit lp | $0 | – | -17,988 | – | -0.42% | – |
| MMP | Exit | MAGELLAN MIDSTREAM PTNunit lp | $0 | – | -9,008 | – | -0.44% | – |
| ATHN | Exit | ATHENA HEALTH INC | $0 | – | -9,352 | – | -0.72% | – |
| CEM | Exit | CLEARBRIDGE ENERGY MLP FUND | $0 | – | -65,630 | – | -1.07% | – |
| V107SC | Exit | WELLPOINT INC | $0 | – | -15,427 | – | -1.08% | – |
| CMI | Exit | CUMMINS INC | $0 | – | -35,532 | – | -2.74% | – |
| WU | Exit | WESTERN UNION CO | $0 | – | -424,416 | – | -3.97% | – |
| V | Exit | VISA INC | $0 | – | -32,392 | – | -4.03% | – |
| NTRS | Exit | NORTHERN TRUST CO | $0 | – | -101,637 | – | -4.03% | – |
| CVS | Exit | CVS HEALTH CORP | $0 | – | -99,910 | – | -4.64% | – |
| EMR | Exit | EMERSON ELECTRIC CO | $0 | – | -130,788 | – | -4.78% | – |
| UTX | Exit | UNITED TECHNOLOGIES CORP | $0 | – | -78,706 | – | -4.85% | – |
| WMT | Exit | WAL MART STORES INC | $0 | – | -117,138 | – | -5.23% | – |
| AXP | Exit | AMERICAN EXPRESS INC | $0 | – | -102,953 | – | -5.26% | – |
| PG | Exit | PROCTER & GAMBLE CO | $0 | – | -107,869 | – | -5.27% | – |
| WAG | Exit | WALGREEN CO | $0 | – | -152,624 | – | -5.28% | – |
| MMM | Exit | 3M CO | $0 | – | -65,124 | – | -5.38% | – |
| FDX | Exit | FEDEX CORP | $0 | – | -58,914 | – | -5.55% | – |
| PEP | Exit | PEPSICO INC | $0 | – | -103,078 | – | -5.60% | – |
| JNJ | Exit | JOHNSON & JOHNSON INC | $0 | – | -91,845 | – | -5.71% | – |
| CL | Exit | COLGATE PALMOLIVE INC | $0 | – | -157,387 | – | -5.99% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -77,974 | – | -6.28% | – |
| ESRX | Exit | EXPRESS SCRIPTS HOLDING CO | $0 | – | -157,790 | – | -6.50% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | Buy | EXPRESS SCRIPTS HOLDING CO | $11,145,000 | +2.7% | 157,790 | +0.8% | 6.50% | +6.5% |
| BRKB | Buy | BERKSHIRE HATHAWAY CL B | $10,771,000 | +39.3% | 77,974 | +27.6% | 6.28% | +44.4% |
| CL | Buy | COLGATE PALMOLIVE INC | $10,265,000 | -3.4% | 157,387 | +0.9% | 5.99% | +0.1% |
| JNJ | Buy | JOHNSON & JOHNSON INC | $9,790,000 | +2.3% | 91,845 | +0.4% | 5.71% | +6.1% |
| PEP | Buy | PEPSICO INC | $9,595,000 | +5.0% | 103,078 | +0.8% | 5.60% | +8.9% |
| FDX | Buy | FEDEX CORP | $9,512,000 | +6.7% | 58,914 | +0.0% | 5.55% | +10.6% |
| MMM | Buy | 3M CO | $9,227,000 | -0.4% | 65,124 | +0.7% | 5.38% | +3.3% |
| WAG | Sell | WALGREEN CO | $9,046,000 | -20.3% | 152,624 | -0.3% | 5.28% | -17.3% |
| PG | Buy | PROCTER & GAMBLE CO | $9,033,000 | +7.7% | 107,869 | +1.1% | 5.27% | +11.7% |
| AXP | Sell | AMERICAN EXPRESS INC | $9,013,000 | -8.6% | 102,953 | -1.0% | 5.26% | -5.2% |
| WMT | Buy | WAL MART STORES INC | $8,958,000 | +2.3% | 117,138 | +0.4% | 5.23% | +6.0% |
| UTX | Buy | UNITED TECHNOLOGIES CORP | $8,311,000 | -7.5% | 78,706 | +1.2% | 4.85% | -4.1% |
| EMR | Buy | EMERSON ELECTRIC CO | $8,185,000 | -4.1% | 130,788 | +1.7% | 4.78% | -0.5% |
| CVS | New | CVS HEALTH CORP | $7,952,000 | – | 99,910 | – | 4.64% | – |
| NTRS | Buy | NORTHERN TRUST CO | $6,914,000 | +7.3% | 101,637 | +1.3% | 4.03% | +11.3% |
| V | Buy | VISA INC | $6,911,000 | +2.6% | 32,392 | +1.3% | 4.03% | +6.4% |
| WU | Buy | WESTERN UNION CO | $6,808,000 | -6.8% | 424,416 | +0.8% | 3.97% | -3.3% |
| CMI | Buy | CUMMINS INC | $4,689,000 | -10.4% | 35,532 | +4.8% | 2.74% | -7.1% |
| V107SC | Sell | WELLPOINT INC | $1,845,000 | -1.6% | 15,427 | -11.5% | 1.08% | +2.0% |
| CEM | Sell | CLEARBRIDGE ENERGY MLP FUND | $1,830,000 | -7.3% | 65,630 | -0.8% | 1.07% | -3.9% |
| MMP | Sell | MAGELLAN MIDSTREAM PTNunit lp | $758,000 | -23.5% | 9,008 | -23.6% | 0.44% | -20.8% |
| EPD | Buy | ENTERPRISE PRODUCTS PTNunit lp | $725,000 | -24.6% | 17,988 | +46.5% | 0.42% | -21.8% |
| ET | Sell | ENERGY TRANSFER EQUITYunit lp | $702,000 | -28.8% | 11,376 | -32.0% | 0.41% | -26.1% |
| PAA | Sell | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $681,000 | -27.8% | 11,562 | -26.4% | 0.40% | -25.2% |
| 4945SC | Sell | KINDER MORGAN ENERGY PTNunit lp | $676,000 | -15.1% | 7,246 | -25.2% | 0.39% | -12.1% |
| L109PS | Sell | ACCESS MIDSTREAM PTNunit lp | $621,000 | -30.4% | 9,760 | -30.5% | 0.36% | -27.9% |
| EEP | Sell | ENBRIDGE ENERGY PTNunit lp | $467,000 | -37.5% | 12,020 | -40.6% | 0.27% | -35.2% |
| BPL | Sell | BUCKEYE PTNunit lp | $439,000 | -40.4% | 5,513 | -37.8% | 0.26% | -38.3% |
| ETP | Sell | ENERGY TRANSFER PTNunit lp | $429,000 | -31.5% | 6,706 | -37.9% | 0.25% | -29.0% |
| TGP | Sell | TEEKAY LNG PTNunit lp | $412,000 | -39.6% | 9,455 | -36.1% | 0.24% | -37.5% |
| NSH | Sell | NUSTAR GROUP HOLDINGS LLCunit llc | $386,000 | -38.3% | 8,884 | -44.5% | 0.22% | -36.1% |
| ARLP | Sell | ALLIANCE RESOURCE PTNunit lp | $381,000 | -45.6% | 8,898 | -40.8% | 0.22% | -43.7% |
| SPH | Sell | SUBURBAN PROPANE PTNunit lp | $347,000 | -40.8% | 7,797 | -38.8% | 0.20% | -38.8% |
| OKS | Sell | ONEOK PTNunit lp | $285,000 | -46.5% | 5,100 | -43.9% | 0.17% | -44.7% |
| BWP | Sell | BOARDWALK PIPELINE PTNunit lp | $265,000 | -38.9% | 14,150 | -39.6% | 0.16% | -36.5% |
| LINEQ | Sell | LINN ENERGY LLCunit llc | $229,000 | -50.3% | 7,598 | -46.7% | 0.13% | -48.3% |
| CEQP | Sell | CRESTWOOD EQUITY PTNunit lp | $180,000 | -64.1% | 17,068 | -49.4% | 0.10% | -62.8% |
| LGP | Exit | LEHIGH GAS PTNunit lp | $0 | – | -8,165 | – | -0.12% | – |
| RRMS | Exit | ROSE ROCK MIDSTREAMunit lp | $0 | – | -6,380 | – | -0.20% | – |
| CMLP | Exit | CRESTWOOD MIDSTREAM PTNunit lp | $0 | – | -17,438 | – | -0.22% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -11 | – | -1.18% | – |
| KMI | Exit | KINDER MORGAN INC | $0 | – | -203,345 | – | -4.15% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| WAG | New | WALGREEN CO | $11,345,000 | – | 153,044 | – | 6.38% | – |
| ESRX | New | EXPRESS SCRIPTS HOLDING CO | $10,855,000 | – | 156,565 | – | 6.11% | – |
| CL | New | COLGATE PALMOLIVE INC | $10,630,000 | – | 155,914 | – | 5.98% | – |
| AXP | New | AMERICAN EXPRESS INC | $9,861,000 | – | 103,944 | – | 5.55% | – |
| JNJ | New | JOHNSON & JOHNSON INC | $9,571,000 | – | 91,487 | – | 5.38% | – |
| MMM | New | 3M CO | $9,265,000 | – | 64,682 | – | 5.21% | – |
| PEP | New | PEPSICO INC | $9,134,000 | – | 102,243 | – | 5.14% | – |
| UTX | New | UNITED TECHNOLOGIES CORP | $8,982,000 | – | 77,798 | – | 5.05% | – |
| FDX | New | FEDEX CORP | $8,915,000 | – | 58,889 | – | 5.02% | – |
| WMT | New | WAL MART STORES INC | $8,760,000 | – | 116,687 | – | 4.93% | – |
| EMR | New | EMERSON ELECTRIC CO | $8,533,000 | – | 128,587 | – | 4.80% | – |
| PG | New | PROCTOR & GAMBLE CO | $8,385,000 | – | 106,690 | – | 4.72% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $7,734,000 | – | 61,108 | – | 4.35% | – |
| KMI | New | KINDER MORGAN INC | $7,373,000 | – | 203,345 | – | 4.15% | – |
| WU | New | WESTERN UNION CO | $7,301,000 | – | 421,065 | – | 4.11% | – |
| V | New | VISA INC | $6,737,000 | – | 31,971 | – | 3.79% | – |
| NTRS | New | NORTHERN TRUST CO | $6,443,000 | – | 100,338 | – | 3.62% | – |
| CMI | New | CUMMINS INC | $5,233,000 | – | 33,917 | – | 2.94% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $2,089,000 | – | 11 | – | 1.18% | – |
| CEM | New | CLEARBRIDGE ENERGY MLP FUND | $1,975,000 | – | 66,160 | – | 1.11% | – |
| V107SC | New | WELLPOINT INC | $1,875,000 | – | 17,427 | – | 1.06% | – |
| ATHN | New | ATHENA HEALTH INC | $1,170,000 | – | 9,352 | – | 0.66% | – |
| MMP | New | MAGELLAN MIDSTREAM PTNunit lp | $991,000 | – | 11,788 | – | 0.56% | – |
| ET | New | ENERGY TRANSFER EQUITYunit lp | $986,000 | – | 16,726 | – | 0.56% | – |
| EPD | New | ENTERPRISE PRODUCTS PTNunit lp | $961,000 | – | 12,279 | – | 0.54% | – |
| PAA | New | PLAINS ALL-AMERICAN PIPELINE LPunit lp | $943,000 | – | 15,707 | – | 0.53% | – |
| L109PS | New | ACCESS MIDSTREAM PTNunit lp | $892,000 | – | 14,035 | – | 0.50% | – |
| 4945SC | New | KINDER MORGAN ENERGY PTNunit lp | $796,000 | – | 9,683 | – | 0.45% | – |
| EEP | New | ENBRIDGE ENERGY PTNunit lp | $747,000 | – | 20,225 | – | 0.42% | – |
| BPL | New | BUCKEYE PTNunit lp | $737,000 | – | 8,868 | – | 0.42% | – |
| ARLP | New | ALLIANCE RESOURCE PTNunit lp | $701,000 | – | 15,018 | – | 0.39% | – |
| XOM | New | EXXON MOBIL CORP | $692,000 | – | 6,870 | – | 0.39% | – |
| TGP | New | TEEKAY LNG PTNunit lp | $682,000 | – | 14,785 | – | 0.38% | – |
| NSH | New | NUSTAR GROUP HOLDINGS LLCunit llc | $626,000 | – | 16,014 | – | 0.35% | – |
| ETP | New | ENERGY TRANSFER PTNunit lp | $626,000 | – | 10,791 | – | 0.35% | – |
| MRK | New | MERCK & CO | $592,000 | – | 10,242 | – | 0.33% | – |
| SPH | New | SUBURBAN PROPANE PTNunit lp | $586,000 | – | 12,750 | – | 0.33% | – |
| OKS | New | ONEOK PTNunit lp | $533,000 | – | 9,095 | – | 0.30% | – |
| CEQP | New | CRESTWOOD EQUITY PTNunit lp | $502,000 | – | 33,738 | – | 0.28% | – |
| LINEQ | New | LINN ENERGY LLCunit llc | $461,000 | – | 14,258 | – | 0.26% | – |
| BWP | New | BOARDWALK PIPELINE PTNunit lp | $434,000 | – | 23,435 | – | 0.24% | – |
| CMLP | New | CRESTWOOD MIDSTREAM PTNunit lp | $385,000 | – | 17,438 | – | 0.22% | – |
| UPS | New | UNITED PARCEL SERVICE CL B | $359,000 | – | 3,500 | – | 0.20% | – |
| RRMS | New | ROSE ROCK MIDSTREAMunit lp | $349,000 | – | 6,380 | – | 0.20% | – |
| DLTR | New | DOLLAR TREE INC | $327,000 | – | 6,000 | – | 0.18% | – |
| FIS | New | FIDELITY NATIONAL INFORMATION | $245,000 | – | 4,467 | – | 0.14% | – |
| LGP | New | LEHIGH GAS PTNunit lp | $219,000 | – | 8,165 | – | 0.12% | – |
| MWE | New | MARKWEST ENERGY PTNunit lp | $210,000 | – | 2,939 | – | 0.12% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FIS | Exit | FIDELITY NATIONAL INFORMATION | $0 | – | -4,467 | – | -0.10% | – |
| Exit | BAKER HUGHES INC | $0 | – | -4,450 | – | -0.10% | – | |
| TNH | Exit | TERRA NITROGEN COlp | $0 | – | -1,084 | – | -0.11% | – |
| MSFT | Exit | MICROSOFT CORP | $0 | – | -6,870 | – | -0.11% | – |
| NRGM | Exit | INERGY MIDSTREAM LPlp | $0 | – | -11,296 | – | -0.12% | – |
| MWE | Exit | MARKWEST ENERGY PTNlp | $0 | – | -3,986 | – | -0.14% | – |
| UPS | Exit | UNITED PARCEL SERVICE CL B | $0 | – | -3,500 | – | -0.15% | – |
| LINEQ | Exit | LINN ENERGY LLClp | $0 | – | -12,478 | – | -0.16% | – |
| DLTR | Exit | DOLLAR TREE INC | $0 | – | -6,000 | – | -0.16% | – |
| NSH | Exit | NUSTAR GROUP HOLDINGS LLCgp | $0 | – | -15,544 | – | -0.17% | – |
| NRGY | Exit | INERGY LPlp | $0 | – | -26,158 | – | -0.17% | – |
| EEP | Exit | ENBRIDGE ENERGY PTNlp | $0 | – | -17,820 | – | -0.26% | – |
| ETP | Exit | ENERGY TRANSFER PTNlp | $0 | – | -10,509 | – | -0.26% | – |
| BPL | Exit | BUCKEYE PTNlp | $0 | – | -8,724 | – | -0.28% | – |
| SPH | Exit | SUBURBAN PROPANE PTNlp | $0 | – | -12,247 | – | -0.28% | – |
| ARLP | Exit | ALLIANCE RESOURCE PTNlp | $0 | – | -8,434 | – | -0.30% | – |
| OKS | Exit | ONEOK PTNlp | $0 | – | -12,430 | – | -0.32% | – |
| Exit | BOARDWALK PIPELINE PTNlp | $0 | – | -22,710 | – | -0.33% | – | |
| ET | Exit | ENERGY TRANSFER EQUITYgp | $0 | – | -10,833 | – | -0.34% | – |
| L109PS | Exit | ACCESS MIDSTREAM PTNlp | $0 | – | -16,215 | – | -0.38% | – |
| TGP | Exit | TEEKAY LNG PTNlp | $0 | – | -21,136 | – | -0.45% | – |
| ATHN | Exit | ATHENA HEALTH INC | $0 | – | -9,376 | – | -0.49% | – |
| MMP | Exit | MAGELLAN MIDSTREAM PTNlp | $0 | – | -21,654 | – | -0.59% | – |
| PAA | Exit | PLAINS ALL-AMERICAN PIPELINE LPlp | $0 | – | -23,232 | – | -0.59% | – |
| 4945SC | Exit | KINDER MORGAN ENERGY PTNlp | $0 | – | -16,137 | – | -0.62% | – |
| V107SC | Exit | WELLPOINT INC | $0 | – | -17,427 | – | -0.70% | – |
| CEM | Exit | CLEARBRIDGE ENERGY MLP FUND | $0 | – | -55,125 | – | -0.71% | – |
| MRK | Exit | MERCK & CO | $0 | – | -32,885 | – | -0.75% | – |
| XOM | Exit | EXXON MOBIL CORP | $0 | – | -20,625 | – | -0.85% | – |
| EPD | Exit | ENTERPRISE PRODUCTS PTNlp | $0 | – | -30,816 | – | -0.90% | – |
| CMI | Exit | CUMMINS INC | $0 | – | -34,191 | – | -2.18% | – |
| Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -40,415 | – | -2.20% | – | |
| NTRS | Exit | NORTHERN TRUST CO | $0 | – | -112,918 | – | -2.95% | – |
| V | Exit | VISA INC | $0 | – | -36,539 | – | -3.36% | – |
| KMI | Exit | KINDER MORGAN INC | $0 | – | -231,660 | – | -3.96% | – |
| Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -49 | – | -4.01% | – | |
| FDX | Exit | FEDEX CORP | $0 | – | -76,595 | – | -4.20% | – |
| EMR | Exit | EMERSON ELECTRIC CO | $0 | – | -143,947 | – | -4.48% | – |
| MMM | Exit | 3M CO | $0 | – | -81,886 | – | -4.70% | – |
| PG | Exit | PROCTOR & GAMBLE CO | $0 | – | -137,052 | – | -4.98% | – |
| WU | Exit | WESTERN UNION CO | $0 | – | -576,559 | – | -5.17% | – |
| PEP | Exit | PEPSICO INC | $0 | – | -137,810 | – | -5.27% | – |
| Exit | AMERICAN EXPRESS INC | $0 | – | -146,976 | – | -5.34% | – | |
| JNJ | Exit | JOHNSON & JOHNSON INC | $0 | – | -128,874 | – | -5.37% | – |
| UTX | Exit | UNITED TECHNOLOGIES CORP | $0 | – | -107,045 | – | -5.55% | – |
| WMT | Exit | WAL MART STORES INC | $0 | – | -163,314 | – | -5.81% | – |
| WAG | Exit | WALGREEN CO | $0 | – | -231,496 | – | -5.99% | – |
| CL | Exit | COLGATE PALMOLIVE INC | $0 | – | -223,106 | – | -6.36% | – |
| ESRX | Exit | EXPRESS SCRIPTS HOLDING CO | $0 | – | -244,175 | – | -7.25% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | Sell | EXPRESS SCRIPTS HOLDING CO | $15,090,000 | -0.4% | 244,175 | -0.5% | 7.25% | -3.9% |
| CL | Sell | COLGATE PALMOLIVE INC | $13,230,000 | +3.4% | 223,106 | -0.1% | 6.36% | -0.3% |
| WAG | Sell | WALGREEN CO | $12,454,000 | +21.5% | 231,496 | -0.2% | 5.99% | +17.1% |
| WMT | Sell | WAL MART STORES INC | $12,079,000 | -1.1% | 163,314 | -0.4% | 5.81% | -4.6% |
| UTX | Sell | UNITED TECHNOLOGIES CORP | $11,542,000 | +15.0% | 107,045 | -0.9% | 5.55% | +10.9% |
| JNJ | Sell | JOHNSON & JOHNSON INC | $11,172,000 | +0.8% | 128,874 | -0.2% | 5.37% | -2.8% |
| New | AMERICAN EXPRESS INC | $11,100,000 | – | 146,976 | – | 5.34% | – | |
| PEP | Sell | PEPSICO INC | $10,956,000 | -2.8% | 137,810 | -0.0% | 5.27% | -6.3% |
| WU | Sell | WESTERN UNION CO | $10,759,000 | +8.8% | 576,559 | -0.3% | 5.17% | +4.9% |
| PG | Sell | PROCTOR & GAMBLE CO | $10,360,000 | -1.9% | 137,052 | -0.1% | 4.98% | -5.5% |
| MMM | Sell | 3M CO | $9,778,000 | +8.7% | 81,886 | -0.5% | 4.70% | +4.8% |
| EMR | Sell | EMERSON ELECTRIC CO | $9,313,000 | +18.5% | 143,947 | -0.1% | 4.48% | +14.2% |
| FDX | Sell | FEDEX CORP | $8,740,000 | +15.1% | 76,595 | -0.6% | 4.20% | +10.9% |
| New | BERKSHIRE HATHAWAY CL A | $8,350,000 | – | 49 | – | 4.01% | – | |
| New | BERKSHIRE HATHAWAY CL B | $4,588,000 | – | 40,415 | – | 2.20% | – | |
| CMI | Buy | CUMMINS INC | $4,543,000 | +30.9% | 34,191 | +6.9% | 2.18% | +26.2% |
| EPD | Sell | ENTERPRISE PRODUCTS PTNlp | $1,881,000 | -15.6% | 30,816 | -14.1% | 0.90% | -18.6% |
| XOM | Sell | EXXON MOBIL CORP | $1,775,000 | -9.8% | 20,625 | -5.3% | 0.85% | -13.0% |
| MRK | Sell | MERCK & CO | $1,566,000 | +1.2% | 32,885 | -1.3% | 0.75% | -2.5% |
| 4945SC | Sell | KINDER MORGAN ENERGY PTNlp | $1,288,000 | -14.2% | 16,137 | -8.2% | 0.62% | -17.4% |
| TGP | Sell | TEEKAY LNG PTNlp | $932,000 | -0.2% | 21,136 | -1.1% | 0.45% | -3.9% |
| ET | Sell | ENERGY TRANSFER EQUITYgp | $713,000 | -4.7% | 10,833 | -13.4% | 0.34% | -8.0% |
| New | BOARDWALK PIPELINE PTNlp | $690,000 | – | 22,710 | – | 0.33% | – | |
| OKS | Sell | ONEOK PTNlp | $659,000 | -16.2% | 12,430 | -21.7% | 0.32% | -19.1% |
| BPL | Sell | BUCKEYE PTNlp | $572,000 | -8.6% | 8,724 | -2.3% | 0.28% | -11.9% |
| EEP | Sell | ENBRIDGE ENERGY PTNlp | $543,000 | -10.1% | 17,820 | -10.1% | 0.26% | -13.3% |
| LINEQ | Sell | LINN ENERGY LLClp | $323,000 | -41.9% | 12,478 | -25.5% | 0.16% | -44.0% |
| New | BAKER HUGHES INC | $218,000 | – | 4,450 | – | 0.10% | – | |
| FIS | New | FIDELITY NATIONAL INFORMATION | $207,000 | – | 4,467 | – | 0.10% | – |
| BHI | Exit | BAKER HUGHES INC | $0 | – | -4,450 | – | -0.10% | – |
| BWP | Exit | BOARDWALK PIPELINE PTNlp | $0 | – | -22,710 | – | -0.34% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -40,558 | – | -2.26% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -49 | – | -4.12% | – |
| AXP | Exit | AMERICAN EXPRESS INC | $0 | – | -147,541 | – | -5.50% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ESRX | New | EXPRESS SCRIPTS HOLDING CO | $15,147,000 | – | 245,330 | – | 7.55% | – |
| CL | New | COLGATE PALMOLIVE INC | $12,790,000 | – | 223,256 | – | 6.38% | – |
| WMT | New | WAL MART STORES INC | $12,211,000 | – | 163,922 | – | 6.09% | – |
| PEP | New | PEPSICO INC | $11,276,000 | – | 137,861 | – | 5.62% | – |
| JNJ | New | JOHNSON & JOHNSON INC | $11,084,000 | – | 129,090 | – | 5.53% | – |
| AXP | New | AMERICAN EXPRESS INC | $11,030,000 | – | 147,541 | – | 5.50% | – |
| PG | New | PROCTOR & GAMBLE CO | $10,563,000 | – | 137,195 | – | 5.27% | – |
| WAG | New | WALGREEN CO | $10,253,000 | – | 231,959 | – | 5.11% | – |
| UTX | New | UNITED TECHNOLOGIES CORP | $10,034,000 | – | 107,964 | – | 5.00% | – |
| WU | New | WESTERN UNION CO | $9,891,000 | – | 578,088 | – | 4.93% | – |
| MMM | New | 3M CO | $8,998,000 | – | 82,288 | – | 4.49% | – |
| KMI | New | KINDER MORGAN INC | $8,838,000 | – | 231,660 | – | 4.41% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $8,261,000 | – | 49 | – | 4.12% | – |
| EMR | New | EMERSON ELECTRIC CO | $7,860,000 | – | 144,116 | – | 3.92% | – |
| FDX | New | FEDEX CORP | $7,596,000 | – | 77,050 | – | 3.79% | – |
| V | New | VISA INC | $6,677,000 | – | 36,539 | – | 3.33% | – |
| NTRS | New | NORTHERN TRUST CO | $6,538,000 | – | 112,918 | – | 3.26% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $4,539,000 | – | 40,558 | – | 2.26% | – |
| CMI | New | CUMMINS INC | $3,470,000 | – | 31,989 | – | 1.73% | – |
| EPD | New | ENTERPRISE PRODUCTS PTNlp | $2,229,000 | – | 35,863 | – | 1.11% | – |
| XOM | New | EXXON MOBIL CORP | $1,967,000 | – | 21,775 | – | 0.98% | – |
| CEM | New | CLEARBRIDGE ENERGY MLP FUND | $1,552,000 | – | 55,125 | – | 0.77% | – |
| MRK | New | MERCK & CO | $1,548,000 | – | 33,335 | – | 0.77% | – |
| 4945SC | New | KINDER MORGAN ENERGY PTNlp | $1,502,000 | – | 17,588 | – | 0.75% | – |
| V107SC | New | WELLPOINT INC | $1,426,000 | – | 17,427 | – | 0.71% | – |
| PAA | New | PLAINS ALL-AMERICAN PIPELINE LPlp | $1,297,000 | – | 23,232 | – | 0.65% | – |
| MMP | New | MAGELLAN MIDSTREAM PTNlp | $1,180,000 | – | 21,654 | – | 0.59% | – |
| TGP | New | TEEKAY LNG PTNlp | $934,000 | – | 21,370 | – | 0.47% | – |
| ATHN | New | ATHENA HEALTH INC | $794,000 | – | 9,376 | – | 0.40% | – |
| OKS | New | ONEOK PTNlp | $786,000 | – | 15,870 | – | 0.39% | – |
| L109PS | New | ACCESS MIDSTREAM PTNlp | $773,000 | – | 16,215 | – | 0.38% | – |
| ET | New | ENERGY TRANSFER EQUITYgp | $748,000 | – | 12,503 | – | 0.37% | – |
| BWP | New | BOARDWALK PIPELINE PTNlp | $686,000 | – | 22,710 | – | 0.34% | – |
| BPL | New | BUCKEYE PTNlp | $626,000 | – | 8,928 | – | 0.31% | – |
| EEP | New | ENBRIDGE ENERGY PTNlp | $604,000 | – | 19,820 | – | 0.30% | – |
| ARLP | New | ALLIANCE RESOURCE PTNlp | $596,000 | – | 8,434 | – | 0.30% | – |
| SPH | New | SUBURBAN PROPANE PTNlp | $569,000 | – | 12,247 | – | 0.28% | – |
| LINEQ | New | LINN ENERGY LLClp | $556,000 | – | 16,758 | – | 0.28% | – |
| ETP | New | ENERGY TRANSFER PTNlp | $531,000 | – | 10,509 | – | 0.26% | – |
| NRGY | New | INERGY LPlp | $419,000 | – | 26,158 | – | 0.21% | – |
| NSH | New | NUSTAR GROUP HOLDINGS LLCgp | $415,000 | – | 15,544 | – | 0.21% | – |
| DLTR | New | DOLLAR TREE INC | $305,000 | – | 6,000 | – | 0.15% | – |
| UPS | New | UNITED PARCEL SERVICE CL B | $303,000 | – | 3,500 | – | 0.15% | – |
| MWE | New | MARKWEST ENERGY PTNlp | $266,000 | – | 3,986 | – | 0.13% | – |
| NRGM | New | INERGY MIDSTREAM LPlp | $251,000 | – | 11,296 | – | 0.12% | – |
| MSFT | New | MICROSOFT CORP | $237,000 | – | 6,870 | – | 0.12% | – |
| TNH | New | TERRA NITROGEN COlp | $232,000 | – | 1,084 | – | 0.12% | – |
| BHI | New | BAKER HUGHES INC | $205,000 | – | 4,450 | – | 0.10% | – |