Greylin Investment Management, Inc Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$201,934,989	-0.8%	576,463	-3.4%	36.28%	-1.3%
XOM	Sell	EXXON MOBIL CORP	$63,068,093	+5.9%	536,385	-3.4%	11.33%	+5.3%
INTC	Buy	INTEL CORP	$36,780,350	+7.6%	1,034,609	+1.2%	6.61%	+7.0%
OXYWS	Buy	OCCIDENTAL PETE CORP*w exp 08/03/202	$24,957,067	+17.5%	577,042	+1.4%	4.48%	+16.9%
QCOM	Buy	QUALCOMM INC	$20,446,368	+0.2%	184,102	+7.3%	3.67%	-0.4%
OGN	Buy	ORGANON & CO	$13,183,028	-9.8%	759,391	+8.1%	2.37%	-10.3%
JNJ	Sell	JOHNSON & JOHNSON	$12,159,714	-7.2%	78,072	-1.4%	2.18%	-7.7%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$10,690,445	+6.6%	123,247	+2.5%	1.92%	+6.1%
COP	Sell	CONOCOPHILLIPS	$10,060,804	+14.8%	83,980	-0.7%	1.81%	+14.2%
AMGN	Sell	AMGEN INC	$9,299,365	+9.4%	34,601	-9.7%	1.67%	+8.8%
GILD	Sell	GILEAD SCIENCES INC	$9,007,263	-17.7%	120,193	-15.4%	1.62%	-18.2%
ALLY	Sell	ALLY FINL INC	$8,627,538	-3.5%	323,371	-2.3%	1.55%	-4.0%
OXY	Buy	OCCIDENTAL PETE CORP	$8,422,073	+13.1%	129,810	+2.5%	1.51%	+12.5%
VTRS	Buy	VIATRIS INC	$8,391,373	+2.0%	851,052	+3.2%	1.51%	+1.5%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$7,507,468	-0.4%	337,566	+27.6%	1.35%	-0.9%
BAC	Buy	BANK AMERICA CORP	$6,930,535	-4.1%	253,124	+0.5%	1.24%	-4.6%
FDX	Sell	FEDEX CORP	$6,854,275	+3.9%	25,873	-2.8%	1.23%	+3.4%
MO	Buy	ALTRIA GROUP INC	$6,779,469	+0.7%	161,224	+8.5%	1.22%	+0.1%
CVX	Sell	CHEVRON CORP NEW	$6,282,950	+3.4%	37,261	-3.5%	1.13%	+2.8%
USB	Buy	US BANCORP DEL	$5,745,795	+1.9%	173,799	+1.8%	1.03%	+1.3%
KHC	Sell	KRAFT HEINZ CO	$5,102,885	-13.8%	151,691	-9.1%	0.92%	-14.3%
LLY	Sell	ELI LILLY & CO	$4,726,744	-29.9%	8,800	-38.8%	0.85%	-30.4%
MRK	Sell	MERCK & CO INC	$4,723,861	-11.9%	45,885	-1.2%	0.85%	-12.3%
NAT	Buy	NORDIC AMERICAN TANKERS LIMI	$4,565,619	+24.7%	1,108,160	+11.1%	0.82%	+23.9%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$4,507,387	-20.3%	32,127	-24.0%	0.81%	-20.7%
KO	Sell	COCA COLA CO	$4,266,292	-14.2%	76,211	-7.7%	0.77%	-14.6%
HD	Sell	HOME DEPOT INC	$4,207,880	-4.2%	13,926	-1.5%	0.76%	-4.7%
MMM	Buy	3M CO	$3,706,509	+26.2%	39,591	+34.9%	0.67%	+25.4%
CSCO	Sell	CISCO SYS INC	$3,639,875	+0.8%	67,706	-3.0%	0.65%	+0.3%
CAH	Sell	CARDINAL HEALTH INC	$3,409,595	-19.7%	39,272	-12.6%	0.61%	-20.1%
BTI	Buy	BRITISH AMERN TOB PLCsponsored adr	$3,075,322	+24.8%	97,909	+31.9%	0.55%	+24.3%
RKT	Buy	ROCKET COS INC	$2,070,194	-6.5%	253,080	+2.4%	0.37%	-7.0%
NXPI	Sell	NXP SEMICONDUCTORS N V	$1,922,631	-4.7%	9,617	-2.4%	0.34%	-5.2%
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$1,526,856	–	11,456	–	0.27%	–
PEP	Sell	PEPSICO INC	$1,361,450	-16.8%	8,035	-9.1%	0.24%	-17.2%
NTAP	Buy	NETAPP INC	$1,358,859	+1.1%	17,908	+1.8%	0.24%	+0.4%
RTX	Sell	RTX CORPORATION	$1,288,479	-29.1%	17,903	-3.5%	0.23%	-29.3%
QSR	Sell	RESTAURANT BRANDS INTL INC	$1,088,837	-35.3%	16,344	-24.7%	0.20%	-35.5%
PSX	Sell	PHILLIPS 66	$1,089,881	+4.3%	9,071	-17.2%	0.20%	+3.7%
GNRC	Buy	GENERAC HLDGS INC	$967,238	-23.8%	8,877	+4.3%	0.17%	-24.0%
JPM	Sell	JPMORGAN CHASE & CO	$906,375	-7.7%	6,250	-7.4%	0.16%	-7.9%
PYPL	New	PAYPAL HLDGS INC	$889,703	–	15,219	–	0.16%	–
DVN	Sell	DEVON ENERGY CORP NEW	$763,916	-8.2%	16,015	-7.0%	0.14%	-8.7%
MCK	Sell	MCKESSON CORP	$656,624	-26.7%	1,510	-27.9%	0.12%	-27.2%
HON	Sell	HONEYWELL INTL INC	$637,353	-12.9%	3,450	-2.1%	0.12%	-12.9%
MTB	Sell	M & T BK CORP	$619,605	+1.1%	4,900	-1.0%	0.11%	0.0%
PFE	Sell	PFIZER INC	$603,031	-17.1%	18,180	-8.3%	0.11%	-17.6%
SBR	New	SABINE RTY TRunit ben int	$598,325	–	9,100	–	0.11%	–
COF	New	CAPITAL ONE FINL CORP	$579,389	–	5,970	–	0.10%	–
PG	Sell	PROCTER AND GAMBLE CO	$430,287	-24.9%	2,950	-21.9%	0.08%	-25.2%
ABT	Sell	ABBOTT LABS	$428,561	-15.0%	4,425	-4.3%	0.08%	-15.4%
SO	New	SOUTHERN CO	$354,342	–	5,475	–	0.06%	–
PM	Sell	PHILIP MORRIS INTL INC	$284,684	-28.4%	3,075	-24.5%	0.05%	-29.2%
MCD	Sell	MCDONALDS CORP	$266,074	-55.6%	1,010	-49.8%	0.05%	-55.6%
TSN	New	TYSON FOODS INCcl a	$252,349	–	4,998	–	0.04%	–
HP	Buy	HELMERICH & PAYNE INC	$241,830	+19.8%	5,736	+0.7%	0.04%	+19.4%
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$235,101	-23.8%	2,095	-1.2%	0.04%	-25.0%
WMB	Sell	WILLIAMS COS INC	$234,988	-17.9%	6,975	-20.5%	0.04%	-19.2%
WSBC	Exit	WESBANCO INC	$0	–	-7,845	–	-0.04%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-8,957	–	-0.04%	–
CHWY	Exit	CHEWY INCcl a	$0	–	-6,135	–	-0.04%	–

Q2 2023

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$203,588,253	–	597,033	–	36.78%	–
XOM	New	EXXON MOBIL CORP	$59,578,076	–	555,507	–	10.76%	–
INTC	New	INTEL CORP	$34,195,978	–	1,022,607	–	6.18%	–
OXYWS	New	OCCIDENTAL PETE CORP*w exp 08/03/202	$21,232,542	–	568,932	–	3.84%	–
QCOM	New	QUALCOMM INC	$20,415,122	–	171,498	–	3.69%	–
OGN	New	ORGANON & CO	$14,616,861	–	702,396	–	2.64%	–
JNJ	New	JOHNSON & JOHNSON	$13,100,246	–	79,146	–	2.37%	–
GILD	New	GILEAD SCIENCES INC	$10,948,179	–	142,055	–	1.98%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$10,023,921	–	120,263	–	1.81%	–
ALLY	New	ALLY FINL INC	$8,938,743	–	330,942	–	1.62%	–
COP	New	CONOCOPHILLIPS	$8,760,744	–	84,555	–	1.58%	–
AMGN	New	AMGEN INC	$8,502,922	–	38,298	–	1.54%	–
VTRS	New	VIATRIS INC	$8,227,801	–	824,429	–	1.49%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$7,536,317	–	264,525	–	1.36%	–
OXY	New	OCCIDENTAL PETE CORP	$7,447,608	–	126,660	–	1.34%	–
BAC	New	BANK AMERICA CORP	$7,226,523	–	251,883	–	1.30%	–
LLY	New	LILLY ELI & CO	$6,746,277	–	14,385	–	1.22%	–
MO	New	ALTRIA GROUP INC	$6,734,253	–	148,659	–	1.22%	–
FDX	New	FEDEX CORP	$6,597,115	–	26,612	–	1.19%	–
CVX	New	CHEVRON CORP NEW	$6,076,070	–	38,615	–	1.10%	–
KHC	New	KRAFT HEINZ CO	$5,921,791	–	166,811	–	1.07%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$5,653,175	–	42,248	–	1.02%	–
USB	New	US BANCORP DEL	$5,640,556	–	170,719	–	1.02%	–
MRK	New	MERCK & CO INC	$5,361,019	–	46,460	–	0.97%	–
KO	New	COCA COLA CO	$4,972,125	–	82,566	–	0.90%	–
HD	New	HOME DEPOT INC	$4,391,207	–	14,136	–	0.79%	–
CAH	New	CARDINAL HEALTH INC	$4,248,274	–	44,922	–	0.77%	–
LOW	New	LOWES COS INC	$3,842,543	–	17,025	–	0.69%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$3,662,242	–	997,886	–	0.66%	–
CSCO	New	CISCO SYS INC	$3,611,866	–	69,808	–	0.65%	–
AAPL	New	APPLE INC	$3,230,958	–	16,657	–	0.58%	–
MMM	New	3M CO	$2,937,541	–	29,349	–	0.53%	–
BTI	New	BRITISH AMERN TOB PLCsponsored adr	$2,464,303	–	74,226	–	0.44%	–
RKT	New	ROCKET COS INC	$2,213,882	–	247,085	–	0.40%	–
TSLA	New	TESLA INC	$2,029,765	–	7,754	–	0.37%	–
NXPI	New	NXP SEMICONDUCTORS N V	$2,016,507	–	9,852	–	0.36%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$1,816,570	–	18,544	–	0.33%	–
QSR	New	RESTAURANT BRANDS INTL INC	$1,683,037	–	21,711	–	0.30%	–
PEP	New	PEPSICO INC	$1,636,419	–	8,835	–	0.30%	–
NTAP	New	NETAPP INC	$1,343,800	–	17,589	–	0.24%	–
GNRC	New	GENERAC HLDGS INC	$1,268,947	–	8,509	–	0.23%	–
PSX	New	PHILLIPS 66	$1,044,602	–	10,952	–	0.19%	–
JPM	New	JPMORGAN CHASE & CO	$981,720	–	6,750	–	0.18%	–
MCK	New	MCKESSON CORP	$895,214	–	2,095	–	0.16%	–
DVN	New	DEVON ENERGY CORP NEW	$832,173	–	17,215	–	0.15%	–
TXN	New	TEXAS INSTRS INC	$742,583	–	4,125	–	0.13%	–
HON	New	HONEYWELL INTL INC	$731,438	–	3,525	–	0.13%	–
PFE	New	PFIZER INC	$727,474	–	19,833	–	0.13%	–
MTB	New	M & T BK CORP	$612,612	–	4,950	–	0.11%	–
MCD	New	MCDONALDS CORP	$599,804	–	2,010	–	0.11%	–
ITW	New	ILLINOIS TOOL WKS INC	$592,879	–	2,370	–	0.11%	–
PG	New	PROCTER AND GAMBLE CO	$572,819	–	3,775	–	0.10%	–
CSX	New	CSX CORP	$514,330	–	15,083	–	0.09%	–
ABT	New	ABBOTT LABS	$504,218	–	4,625	–	0.09%	–
PM	New	PHILIP MORRIS INTL INC	$397,802	–	4,075	–	0.07%	–
AXP	New	AMERICAN EXPRESS CO	$374,530	–	2,150	–	0.07%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$347,681	–	1,575	–	0.06%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$308,672	–	2,120	–	0.06%	–
WMB	New	WILLIAMS COS INC	$286,328	–	8,775	–	0.05%	–
CAT	New	CATERPILLAR INC	$258,353	–	1,050	–	0.05%	–
EFA	New	ISHARES TRmsci eafe etf	$247,370	–	3,412	–	0.04%	–
CHWY	New	CHEWY INCcl a	$242,148	–	6,135	–	0.04%	–
BEN	New	FRANKLIN RESOURCES INC	$239,241	–	8,957	–	0.04%	–
MSFT	New	MICROSOFT CORP	$238,378	–	700	–	0.04%	–
SYF	New	SYNCHRONY FINANCIAL	$223,872	–	6,600	–	0.04%	–
DWM	New	WISDOMTREE TRintl equity fd	$216,080	–	4,319	–	0.04%	–
HP	New	HELMERICH & PAYNE INC	$201,888	–	5,695	–	0.04%	–
WSBC	New	WESBANCO INC	$200,910	–	7,845	–	0.04%	–

Q4 2022

			Value		Shares		↓ Weighting
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-11,225	–	-0.01%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-11,345	–	-0.04%	–
HP	Exit	HELMERICH & PAYNE INC	$0	–	-5,915	–	-0.05%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-2,170	–	-0.05%	–
CSX	Exit	CSX CORP	$0	–	-9,030	–	-0.05%	–
RKT	Exit	ROCKET COS INC	$0	–	-41,670	–	-0.06%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-9,375	–	-0.06%	–
CHWY	Exit	CHEWY INCcl a	$0	–	-9,105	–	-0.06%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS PLC	$0	–	-2,078	–	-0.06%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-13,293	–	-0.06%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,150	–	-0.06%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-4,625	–	-0.08%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-5,350	–	-0.08%	–
SO	Exit	SOUTHERN CO	$0	–	-6,175	–	-0.09%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,370	–	-0.09%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,010	–	-0.10%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,875	–	-0.10%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-2,350	–	-0.10%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-4,375	–	-0.12%	–
MMM	Exit	3M CO	$0	–	-5,735	–	-0.13%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,100	–	-0.13%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-3,810	–	-0.13%	–
SBR	Exit	SABINE RTY TRunit ben int	$0	–	-9,100	–	-0.14%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-6,800	–	-0.15%	–
ALLY	Exit	ALLY FINL INC	$0	–	-25,555	–	-0.15%	–
MTB	Exit	M & T BK CORP	$0	–	-4,950	–	-0.18%	–
TWTR	Exit	TWITTER INC	$0	–	-21,250	–	-0.19%	–
STOR	Exit	STORE CAP CORP	$0	–	-30,610	–	-0.20%	–
TSLA	Exit	TESLA INC	$0	–	-3,964	–	-0.22%	–
MCK	Exit	MCKESSON CORP	$0	–	-3,232	–	-0.23%	–
NTAP	Exit	NETAPP INC	$0	–	-18,858	–	-0.24%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-22,731	–	-0.25%	–
PSX	Exit	PHILLIPS 66	$0	–	-16,602	–	-0.28%	–
PFE	Exit	PFIZER INC	$0	–	-31,577	–	-0.29%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-10,920	–	-0.34%	–
PEP	Exit	PEPSICO INC	$0	–	-11,720	–	-0.40%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-33,650	–	-0.42%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-25,895	–	-0.44%	–
AAPL	Exit	APPLE INC	$0	–	-16,691	–	-0.48%	–
BTI	Exit	BRITISH AMERN TOB PLCsponsored adr	$0	–	-65,404	–	-0.48%	–
CSCO	Exit	CISCO SYS INC	$0	–	-64,028	–	-0.53%	–
LOW	Exit	LOWES COS INC	$0	–	-17,625	–	-0.69%	–
USB	Exit	US BANCORP DEL	$0	–	-85,628	–	-0.72%	–
FDX	Exit	FEDEX CORP	$0	–	-26,383	–	-0.81%	–
MRK	Exit	MERCK & CO INC	$0	–	-46,945	–	-0.84%	–
HD	Exit	HOME DEPOT INC	$0	–	-14,932	–	-0.86%	–
LLY	Exit	LILLY ELI & CO	$0	–	-14,625	–	-0.98%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-37,487	–	-1.12%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-141,140	–	-1.18%	–
KO	Exit	COCA COLA CO	$0	–	-103,444	–	-1.20%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-198,469	–	-1.30%	–
VTRS	Exit	VIATRIS INC	$0	–	-841,787	–	-1.49%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-261,760	–	-1.64%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-131,722	–	-1.68%	–
AMGN	Exit	AMGEN INC	$0	–	-38,708	–	-1.81%	–
OGN	Exit	ORGANON & CO	$0	–	-387,520	–	-1.88%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-93,535	–	-1.99%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-150,591	–	-2.09%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-189,734	–	-2.43%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-147,023	–	-2.44%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-107,476	–	-2.66%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-82,583	–	-2.80%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-415,388	–	-2.88%	–
INTC	Exit	INTEL CORP	$0	–	-627,683	–	-3.36%	–
QCOM	Exit	QUALCOMM INC	$0	–	-164,328	–	-3.86%	–
OXYWS	Exit	OCCIDENTAL PETE CORP*w exp 08/03/202	$0	–	-549,893	–	-4.53%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-625,686	–	-11.36%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-613,981	–	-34.09%	–

Q3 2022

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$163,945,000	-2.4%	613,981	-0.3%	34.09%	+5.0%
XOM	Sell	EXXON MOBIL CORP	$54,629,000	+1.2%	625,686	-0.8%	11.36%	+8.9%
OXYWS	Buy	OCCIDENTAL PETE CORP*w exp 08/03/202	$21,787,000	+12.0%	549,893	+4.5%	4.53%	+20.5%
QCOM	Sell	QUALCOMM INC	$18,566,000	-11.9%	164,328	-0.4%	3.86%	-5.2%
INTC	Buy	INTEL CORP	$16,175,000	+25.9%	627,683	+82.7%	3.36%	+35.4%
KHC	Sell	KRAFT HEINZ CO	$13,853,000	-29.0%	415,388	-18.8%	2.88%	-23.6%
JNJ	Sell	JOHNSON & JOHNSON	$13,491,000	-9.7%	82,583	-1.9%	2.80%	-2.9%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$12,769,000	-22.7%	107,476	-8.2%	2.66%	-16.9%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$11,760,000	-28.4%	147,023	+1.8%	2.44%	-23.0%
GILD	Sell	GILEAD SCIENCES INC	$11,705,000	-25.2%	189,734	-25.1%	2.43%	-19.5%
CAH	Sell	CARDINAL HEALTH INC	$10,041,000	-5.4%	150,591	-25.8%	2.09%	+1.8%
COP	Sell	CONOCOPHILLIPS	$9,572,000	+6.9%	93,535	-6.2%	1.99%	+15.0%
OGN	Buy	ORGANON & CO	$9,068,000	-15.3%	387,520	+22.2%	1.88%	-8.8%
AMGN	Sell	AMGEN INC	$8,725,000	-10.6%	38,708	-3.5%	1.81%	-3.8%
OXY	Buy	OCCIDENTAL PETE CORP	$8,094,000	+28.6%	131,722	+23.3%	1.68%	+38.4%
BAC	Sell	BK OF AMERICA CORP	$7,905,000	-4.9%	261,760	-2.0%	1.64%	+2.4%
VTRS	Buy	VIATRIS INC	$7,172,000	+31.4%	841,787	+61.4%	1.49%	+41.3%
WBA	Sell	WALGREENS BOOTS ALLIANCE INC	$6,232,000	-47.7%	198,469	-36.8%	1.30%	-43.7%
KO	Sell	COCA COLA CO	$5,795,000	-22.2%	103,444	-12.6%	1.20%	-16.3%
MO	Buy	ALTRIA GROUP INC	$5,699,000	+34.3%	141,140	+38.9%	1.18%	+44.5%
CVX	Buy	CHEVRON CORP NEW	$5,386,000	-0.6%	37,487	+0.2%	1.12%	+7.0%
LLY	Sell	LILLY ELI & CO	$4,729,000	-13.9%	14,625	-13.7%	0.98%	-7.4%
HD	Sell	HOME DEPOT INC	$4,120,000	-0.1%	14,932	-0.7%	0.86%	+7.5%
MRK	Sell	MERCK & CO INC	$4,043,000	-5.8%	46,945	-0.3%	0.84%	+1.3%
FDX	Buy	FEDEX CORP	$3,917,000	-32.9%	26,383	+2.4%	0.81%	-27.8%
USB	Buy	US BANCORP DEL	$3,453,000	-10.0%	85,628	+2.7%	0.72%	-3.1%
LOW	Sell	LOWES COS INC	$3,310,000	+7.0%	17,625	-0.5%	0.69%	+15.1%
CSCO	Buy	CISCO SYS INC	$2,561,000	-2.0%	64,028	+4.4%	0.53%	+5.3%
BTI	Sell	BRITISH AMERN TOB PLCsponsored adr	$2,322,000	-28.0%	65,404	-13.0%	0.48%	-22.5%
AAPL	Buy	APPLE INC	$2,307,000	+5.0%	16,691	+3.9%	0.48%	+12.9%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$2,120,000	-52.7%	25,895	-44.5%	0.44%	-49.1%
DVN	Buy	DEVON ENERGY CORP NEW	$2,023,000	+138.3%	33,650	+118.5%	0.42%	+156.7%
PEP	Sell	PEPSICO INC	$1,913,000	-4.3%	11,720	-2.3%	0.40%	+3.1%
NXPI	Sell	NXP SEMICONDUCTORS N V	$1,611,000	-3.2%	10,920	-2.9%	0.34%	+4.0%
PFE	Sell	PFIZER INC	$1,382,000	-45.1%	31,577	-34.3%	0.29%	-41.1%
PSX	Sell	PHILLIPS 66	$1,340,000	-11.0%	16,602	-9.5%	0.28%	-4.1%
QSR	Buy	RESTAURANT BRANDS INTL INC	$1,209,000	+25.8%	22,731	+18.6%	0.25%	+34.9%
NTAP	Sell	NETAPP INC	$1,166,000	-6.5%	18,858	-1.3%	0.24%	+0.4%
MCK	Sell	MCKESSON CORP	$1,098,000	-59.6%	3,232	-61.2%	0.23%	-56.6%
TSLA	Buy	TESLA INC	$1,051,000	+18.2%	3,964	+200.3%	0.22%	+27.3%
STOR	Buy	STORE CAP CORP	$959,000	+377.1%	30,610	+296.5%	0.20%	+410.3%
TWTR	Sell	TWITTER INC	$932,000	+1.0%	21,250	-13.9%	0.19%	+9.0%
MTB	Sell	M & T BK CORP	$873,000	+7.9%	4,950	-2.5%	0.18%	+16.7%
ALLY	New	ALLY FINL INC	$711,000	–	25,555	–	0.15%	–
SBR	New	SABINE RTY TRunit ben int	$647,000	–	9,100	–	0.14%	–
MMM	Buy	3M CO	$634,000	+20.3%	5,735	+40.9%	0.13%	+29.4%
PG	Sell	PROCTER AND GAMBLE CO	$552,000	-14.7%	4,375	-2.8%	0.12%	-8.0%
UTHR	Sell	UNITED THERAPEUTICS CORP DEL	$492,000	-13.1%	2,350	-2.1%	0.10%	-6.4%
ABT	Sell	ABBOTT LABS	$472,000	-11.8%	4,875	-1.0%	0.10%	-4.9%
SO	Sell	SOUTHERN CO	$420,000	-6.0%	6,175	-1.6%	0.09%	+1.2%
ATVI	New	ACTIVISION BLIZZARD INC	$398,000	–	5,350	–	0.08%	–
BEN	Sell	FRANKLIN RESOURCES INC	$286,000	-38.5%	13,293	-33.3%	0.06%	-34.4%
CHWY	Sell	CHEWY INCcl a	$280,000	-59.2%	9,105	-53.9%	0.06%	-56.4%
JAZZ	Sell	JAZZ PHARMACEUTICALS PLC	$277,000	-57.6%	2,078	-50.3%	0.06%	-54.0%
WMB	Sell	WILLIAMS COS INC	$268,000	-9.8%	9,375	-1.6%	0.06%	-1.8%
RKT	New	ROCKET COS INC	$263,000	–	41,670	–	0.06%	–
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$227,000	-5.8%	2,170	-5.4%	0.05%	0.0%
HP	Buy	HELMERICH & PAYNE INC	$219,000	-13.4%	5,915	+0.9%	0.05%	-6.1%
KMI	Sell	KINDER MORGAN INC DEL	$189,000	-15.6%	11,345	-15.3%	0.04%	-9.3%
PBR	Exit	PETROLEO BRASILEIRO SA PETROsponsored adr	$0	–	-11,800	–	-0.03%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-3,412	–	-0.04%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-1,765	–	-0.04%	–
GIS	Exit	GENERAL MLS INC	$0	–	-2,900	–	-0.04%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-9,245	–	-0.06%	–
PKX	Exit	POSCO HOLDINGS INCsponsored adr	$0	–	-8,505	–	-0.07%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-2,110	–	-0.09%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-24,380	–	-0.24%	–
GSK	Exit	GSK PLCsponsored adr	$0	–	-38,155	–	-0.32%	–

Q2 2022

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$168,060,000	–	615,558	–	32.48%	–
XOM	New	EXXON MOBIL CORP	$53,994,000	–	630,481	–	10.43%	–
QCOM	New	QUALCOMM INC	$21,074,000	–	164,977	–	4.07%	–
KHC	New	KRAFT HEINZ CO	$19,522,000	–	511,847	–	3.77%	–
OXYWS	New	OCCIDENTAL PETE CORP*w exp 08/03/202	$19,449,000	–	526,062	–	3.76%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$16,529,000	–	117,071	–	3.19%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$16,425,000	–	144,482	–	3.17%	–
GILD	New	GILEAD SCIENCES INC	$15,648,000	–	253,156	–	3.02%	–
JNJ	New	JOHNSON & JOHNSON	$14,946,000	–	84,198	–	2.89%	–
INTC	New	INTEL CORP	$12,850,000	–	343,486	–	2.48%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$11,908,000	–	314,204	–	2.30%	–
OGN	New	ORGANON & CO	$10,703,000	–	317,124	–	2.07%	–
CAH	New	CARDINAL HEALTH INC	$10,613,000	–	203,040	–	2.05%	–
AMGN	New	AMGEN INC	$9,755,000	–	40,095	–	1.88%	–
COP	New	CONOCOPHILLIPS	$8,957,000	–	99,735	–	1.73%	–
BAC	New	BK OF AMERICA CORP	$8,312,000	–	267,005	–	1.61%	–
KO	New	COCA COLA CO	$7,445,000	–	118,343	–	1.44%	–
OXY	New	OCCIDENTAL PETE CORP	$6,292,000	–	106,857	–	1.22%	–
FDX	New	FEDEX CORP	$5,838,000	–	25,753	–	1.13%	–
LLY	New	LILLY ELI & CO	$5,492,000	–	16,940	–	1.06%	–
VTRS	New	VIATRIS INC	$5,459,000	–	521,393	–	1.06%	–
CVX	New	CHEVRON CORP NEW	$5,417,000	–	37,412	–	1.05%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$4,482,000	–	46,632	–	0.87%	–
MRK	New	MERCK & CO INC	$4,293,000	–	47,090	–	0.83%	–
MO	New	ALTRIA GROUP INC	$4,244,000	–	101,613	–	0.82%	–
HD	New	HOME DEPOT INC	$4,124,000	–	15,037	–	0.80%	–
USB	New	US BANCORP DEL	$3,836,000	–	83,353	–	0.74%	–
BTI	New	BRITISH AMERN TOB PLCsponsored adr	$3,224,000	–	75,144	–	0.62%	–
LOW	New	LOWES COS INC	$3,093,000	–	17,710	–	0.60%	–
MCK	New	MCKESSON CORP	$2,719,000	–	8,334	–	0.52%	–
CSCO	New	CISCO SYS INC	$2,614,000	–	61,310	–	0.50%	–
PFE	New	PFIZER INC	$2,519,000	–	48,042	–	0.49%	–
AAPL	New	APPLE INC	$2,197,000	–	16,066	–	0.42%	–
PEP	New	PEPSICO INC	$1,999,000	–	11,995	–	0.39%	–
NXPI	New	NXP SEMICONDUCTORS N V	$1,665,000	–	11,250	–	0.32%	–
GSK	New	GSK PLCsponsored adr	$1,661,000	–	38,155	–	0.32%	–
PSX	New	PHILLIPS 66	$1,505,000	–	18,352	–	0.29%	–
NTAP	New	NETAPP INC	$1,247,000	–	19,111	–	0.24%	–
VZ	New	VERIZON COMMUNICATIONS INC	$1,237,000	–	24,380	–	0.24%	–
QSR	New	RESTAURANT BRANDS INTL INC	$961,000	–	19,170	–	0.19%	–
TWTR	New	TWITTER INC	$923,000	–	24,675	–	0.18%	–
TSLA	New	TESLA INC	$889,000	–	1,320	–	0.17%	–
DVN	New	DEVON ENERGY CORP NEW	$849,000	–	15,400	–	0.16%	–
MTB	New	M & T BK CORP	$809,000	–	5,075	–	0.16%	–
JPM	New	JPMORGAN CHASE & CO	$766,000	–	6,800	–	0.15%	–
CHWY	New	CHEWY INCcl a	$686,000	–	19,765	–	0.13%	–
HON	New	HONEYWELL INTL INC	$662,000	–	3,810	–	0.13%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$653,000	–	4,183	–	0.13%	–
PG	New	PROCTER AND GAMBLE CO	$647,000	–	4,500	–	0.12%	–
TXN	New	TEXAS INSTRS INC	$630,000	–	4,100	–	0.12%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$566,000	–	2,400	–	0.11%	–
ABT	New	ABBOTT LABS	$535,000	–	4,925	–	0.10%	–
MMM	New	3M CO	$527,000	–	4,070	–	0.10%	–
MCD	New	MCDONALDS CORP	$496,000	–	2,010	–	0.10%	–
BEN	New	FRANKLIN RESOURCES INC	$465,000	–	19,939	–	0.09%	–
GD	New	GENERAL DYNAMICS CORP	$467,000	–	2,110	–	0.09%	–
PM	New	PHILIP MORRIS INTL INC	$457,000	–	4,625	–	0.09%	–
SO	New	SOUTHERN CO	$447,000	–	6,275	–	0.09%	–
ITW	New	ILLINOIS TOOL WKS INC	$432,000	–	2,370	–	0.08%	–
PKX	New	POSCO HOLDINGS INCsponsored adr	$379,000	–	8,505	–	0.07%	–
SLB	New	SCHLUMBERGER LTD	$331,000	–	9,245	–	0.06%	–
AXP	New	AMERICAN EXPRESS CO	$298,000	–	2,150	–	0.06%	–
WMB	New	WILLIAMS COS INC	$297,000	–	9,525	–	0.06%	–
CSX	New	CSX CORP	$262,000	–	9,030	–	0.05%	–
HP	New	HELMERICH & PAYNE INC	$253,000	–	5,865	–	0.05%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$241,000	–	2,295	–	0.05%	–
KMI	New	KINDER MORGAN INC DEL	$224,000	–	13,390	–	0.04%	–
GIS	New	GENERAL MLS INC	$219,000	–	2,900	–	0.04%	–
EFA	New	ISHARES TRmsci eafe etf	$213,000	–	3,412	–	0.04%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$210,000	–	1,765	–	0.04%	–
STOR	New	STORE CAP CORP	$201,000	–	7,720	–	0.04%	–
PBR	New	PETROLEO BRASILEIRO SA PETROsponsored adr	$138,000	–	11,800	–	0.03%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$24,000	–	11,225	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
CAT	Exit	CATERPILLAR INC	$0	–	-1,100	–	-0.04%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-3,993	–	-0.04%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-2,300	–	-0.04%	–
EBAY	Exit	EBAY INC.	$0	–	-3,163	–	-0.04%	–
GIS	Exit	GENERAL MLS INC	$0	–	-3,650	–	-0.04%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-4,319	–	-0.05%	–
TSN	Exit	TYSON FOODS INCcl a	$0	–	-3,119	–	-0.05%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-925	–	-0.05%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-3,412	–	-0.05%	–
CSX	Exit	CSX CORP	$0	–	-9,030	–	-0.06%	–
PBRA	Exit	PETROLEO BRASILEIRO SA PETROsp adr non vtg	$0	–	-27,900	–	-0.06%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS PLC	$0	–	-2,242	–	-0.06%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-12,000	–	-0.06%	–
DIS	Exit	DISNEY WALT CO	$0	–	-1,914	–	-0.07%	–
LPX	Exit	LOUISIANA PAC CORP	$0	–	-5,450	–	-0.07%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-1,923	–	-0.07%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,050	–	-0.07%	–
MMM	Exit	3M CO	$0	–	-1,964	–	-0.07%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-1,759	–	-0.07%	–
SPPP	Exit	SPROTT PHYSICAL PLAT PALLADunit	$0	–	-25,000	–	-0.07%	–
DHI	Exit	D R HORTON INC	$0	–	-4,600	–	-0.08%	–
T	Exit	AT&T INC	$0	–	-15,040	–	-0.08%	–
PHM	Exit	PULTE GROUP INC	$0	–	-8,860	–	-0.08%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-24,732	–	-0.08%	–
ORMP	Exit	ORAMED PHARMACEUTICALS INC	$0	–	-18,900	–	-0.08%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-8,999	–	-0.09%	–
SO	Exit	SOUTHERN CO	$0	–	-6,875	–	-0.09%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-3,075	–	-0.09%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-7,417	–	-0.09%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-4,875	–	-0.10%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,395	–	-0.10%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-3,905	–	-0.11%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,215	–	-0.11%	–
SYF	Exit	SYNCHRONY FINANCIAL	$0	–	-11,605	–	-0.12%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-5,110	–	-0.12%	–
ABT	Exit	ABBOTT LABS	$0	–	-5,040	–	-0.12%	–
BBL	Exit	BHP GROUP PLCsponsored adr	$0	–	-12,725	–	-0.13%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-3,929	–	-0.13%	–
TSLA	Exit	TESLA INC	$0	–	-855	–	-0.14%	–
MTB	Exit	M & T BK CORP	$0	–	-5,225	–	-0.16%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,100	–	-0.16%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-5,700	–	-0.16%	–
HTGC	Exit	HERCULES CAPITAL INC	$0	–	-50,000	–	-0.17%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-24,740	–	-0.17%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-3,985	–	-0.17%	–
ASO	Exit	ACADEMY SPORTS & OUTDOORS IN	$0	–	-24,842	–	-0.20%	–
PLTR	Exit	PALANTIR TECHNOLOGIES INCcl a	$0	–	-42,744	–	-0.21%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-6,900	–	-0.23%	–
STNE	Exit	STONECO LTD	$0	–	-32,631	–	-0.23%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-12,940	–	-0.27%	–
PSX	Exit	PHILLIPS 66	$0	–	-20,415	–	-0.29%	–
XHB	Exit	SPDR SER TRs&p homebuild	$0	–	-22,715	–	-0.33%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-48,005	–	-0.35%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-9,552	–	-0.36%	–
PEP	Exit	PEPSICO INC	$0	–	-12,665	–	-0.39%	–
INTC	Exit	INTEL CORP	$0	–	-36,545	–	-0.40%	–
AAPL	Exit	APPLE INC	$0	–	-16,470	–	-0.48%	–
CSCO	Exit	CISCO SYS INC	$0	–	-43,289	–	-0.48%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-53,530	–	-0.50%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-82,419	–	-0.50%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-13,066	–	-0.52%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-89,884	–	-0.55%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-1,066,935	–	-0.56%	–
BTI	Exit	BRITISH AMERN TOB PLCsponsored adr	$0	–	-82,487	–	-0.60%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-103,109	–	-0.62%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-73,657	–	-0.71%	–
MRK	Exit	MERCK & CO INC	$0	–	-46,890	–	-0.72%	–
CHWY	Exit	CHEWY INCcl a	$0	–	-52,580	–	-0.73%	–
LOW	Exit	LOWES COS INC	$0	–	-18,670	–	-0.78%	–
LLY	Exit	LILLY ELI & CO	$0	–	-17,160	–	-0.81%	–
AMGN	Exit	AMGEN INC	$0	–	-22,091	–	-0.96%	–
NTAP	Exit	NETAPP INC	$0	–	-52,512	–	-0.96%	–
USB	Exit	US BANCORP DEL	$0	–	-82,385	–	-1.00%	–
FDX	Exit	FEDEX CORP	$0	–	-23,671	–	-1.06%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-105,368	–	-1.07%	–
RKT	Exit	ROCKET COS INC	$0	–	-337,263	–	-1.11%	–
HD	Exit	HOME DEPOT INC	$0	–	-17,237	–	-1.16%	–
OXYWS	Exit	OCCIDENTAL PETE CORP*w exp 08/03/202	$0	–	-502,693	–	-1.22%	–
KO	Exit	COCA COLA CO	$0	–	-117,313	–	-1.26%	–
MCK	Exit	MCKESSON CORP	$0	–	-31,430	–	-1.28%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-76,567	–	-1.35%	–
PFE	Exit	PFIZER INC	$0	–	-181,549	–	-1.60%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-122,211	–	-1.70%	–
OGN	Exit	ORGANON & CO	$0	–	-327,490	–	-2.20%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-272,837	–	-2.37%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-82,005	–	-2.49%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-187,740	–	-2.69%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-86,480	–	-2.86%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-481,135	–	-3.63%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-142,472	–	-4.05%	–
QCOM	Exit	QUALCOMM INC	$0	–	-185,741	–	-4.91%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-682,135	–	-8.22%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-624,885	–	-34.93%	–

Q3 2021

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$170,556,000	-3.1%	624,885	-1.4%	34.93%	+2.5%
XOM	Sell	EXXON MOBIL CORP	$40,123,000	-10.2%	682,135	-3.7%	8.22%	-5.0%
QCOM	Sell	QUALCOMM INC	$23,957,000	-14.2%	185,741	-5.0%	4.91%	-9.2%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$19,794,000	-3.8%	142,472	+1.5%	4.05%	+1.8%
KHC	Sell	KRAFT HEINZ CO	$17,715,000	-13.9%	481,135	-4.7%	3.63%	-8.9%
JNJ	Sell	JOHNSON & JOHNSON	$13,967,000	-2.0%	86,480	-0.1%	2.86%	+3.7%
GILD	Buy	GILEAD SCIENCES INC	$13,114,000	+2.3%	187,740	+0.9%	2.69%	+8.3%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$12,141,000	+88.6%	82,005	+188.9%	2.49%	+99.5%
BAC	Sell	BK OF AMERICA CORP	$11,582,000	-0.5%	272,837	-3.4%	2.37%	+5.3%
OGN	Buy	ORGANON & CO	$10,738,000	+49.0%	327,490	+37.5%	2.20%	+57.6%
COP	Buy	CONOCOPHILLIPS	$8,282,000	+43.6%	122,211	+29.0%	1.70%	+52.0%
PFE	Sell	PFIZER INC	$7,808,000	+9.4%	181,549	-0.4%	1.60%	+15.8%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$6,582,000	-0.4%	76,567	-1.2%	1.35%	+5.4%
MCK	Sell	MCKESSON CORP	$6,267,000	+0.7%	31,430	-3.4%	1.28%	+6.6%
KO	Sell	COCA COLA CO	$6,155,000	-3.1%	117,313	-0.1%	1.26%	+2.5%
OXYWS	Buy	OCCIDENTAL PETE CORP*w exp 08/03/202	$5,957,000	+2.2%	502,693	+19.9%	1.22%	+8.2%
HD	Sell	HOME DEPOT INC	$5,658,000	-1.1%	17,237	-3.9%	1.16%	+4.7%
RKT	Sell	ROCKET COS INC	$5,410,000	-68.3%	337,263	-61.7%	1.11%	-66.4%
CAH	Buy	CARDINAL HEALTH INC	$5,212,000	+175.6%	105,368	+218.2%	1.07%	+191.5%
FDX	Sell	FEDEX CORP	$5,191,000	-28.0%	23,671	-2.1%	1.06%	-23.8%
USB	Sell	US BANCORP DEL	$4,897,000	+4.1%	82,385	-0.2%	1.00%	+10.2%
NTAP	Sell	NETAPP INC	$4,713,000	-38.1%	52,512	-43.5%	0.96%	-34.4%
AMGN	Buy	AMGEN INC	$4,698,000	+843.4%	22,091	+980.2%	0.96%	+902.1%
LLY	Buy	LILLY ELI & CO	$3,965,000	+1.0%	17,160	+0.3%	0.81%	+6.8%
LOW	Sell	LOWES COS INC	$3,787,000	+2.1%	18,670	-2.4%	0.78%	+8.1%
CHWY	Sell	CHEWY INCcl a	$3,581,000	-19.3%	52,580	-5.6%	0.73%	-14.7%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$3,466,000	+125.1%	73,657	+151.6%	0.71%	+138.3%
OXY	Sell	OCCIDENTAL PETE CORP	$3,050,000	-28.9%	103,109	-24.8%	0.62%	-24.7%
BTI	Buy	BRITISH AMERN TOB PLCsponsored adr	$2,910,000	-7.8%	82,487	+2.7%	0.60%	-2.5%
NAT	Sell	NORDIC AMERICAN TANKERS LIMI	$2,731,000	-63.1%	1,066,935	-52.8%	0.56%	-61.0%
SLB	Sell	SCHLUMBERGER LTD	$2,664,000	-51.1%	89,884	-47.2%	0.55%	-48.2%
NXPI	Sell	NXP SEMICONDUCTORS N V	$2,559,000	-34.7%	13,066	-31.4%	0.52%	-30.9%
BEN	Sell	FRANKLIN RESOURCES INC	$2,449,000	-22.5%	82,419	-16.5%	0.50%	-17.8%
MO	Buy	ALTRIA GROUP INC	$2,437,000	+11.0%	53,530	+16.3%	0.50%	+17.4%
AAPL	Buy	APPLE INC	$2,331,000	+3.8%	16,470	+0.4%	0.48%	+9.7%
INTC	Buy	INTEL CORP	$1,947,000	+159.9%	36,545	+173.9%	0.40%	+175.2%
UTHR	Sell	UNITED THERAPEUTICS CORP DEL	$1,763,000	-30.9%	9,552	-32.8%	0.36%	-26.8%
DVN	Sell	DEVON ENERGY CORP NEW	$1,705,000	+16.2%	48,005	-4.5%	0.35%	+22.9%
XHB	Sell	SPDR SER TRs&p homebuild	$1,630,000	-42.6%	22,715	-41.4%	0.33%	-39.3%
PSX	Buy	PHILLIPS 66	$1,430,000	0.0%	20,415	+22.5%	0.29%	+5.8%
CVX	Buy	CHEVRON CORP NEW	$1,313,000	+29.0%	12,940	+33.2%	0.27%	+36.5%
STNE	Sell	STONECO LTD	$1,133,000	-60.6%	32,631	-23.9%	0.23%	-58.3%
JPM	Sell	JPMORGAN CHASE & CO	$1,129,000	+4.4%	6,900	-0.7%	0.23%	+10.5%
PLTR	Sell	PALANTIR TECHNOLOGIES INCcl a	$1,028,000	-9.3%	42,744	-0.6%	0.21%	-3.7%
ASO	Sell	ACADEMY SPORTS & OUTDOORS IN	$994,000	-34.0%	24,842	-31.9%	0.20%	-29.9%
HON	Sell	HONEYWELL INTL INC	$846,000	-8.3%	3,985	-5.3%	0.17%	-3.4%
CAG	New	CONAGRA BRANDS INC	$838,000	–	24,740	–	0.17%	–
HTGC	Sell	HERCULES CAPITAL INC	$831,000	-6.2%	50,000	-3.8%	0.17%	-0.6%
MTB	Buy	M & T BK CORP	$780,000	+6.8%	5,225	+4.0%	0.16%	+13.5%
TSLA	Buy	TESLA INC	$663,000	+147.4%	855	+116.5%	0.14%	+161.5%
SWKS	Sell	SKYWORKS SOLUTIONS INC	$647,000	-40.9%	3,929	-31.2%	0.13%	-37.3%
BBL	Sell	BHP GROUP PLCsponsored adr	$645,000	-28.9%	12,725	-16.3%	0.13%	-25.0%
ABT	Sell	ABBOTT LABS	$595,000	-2.3%	5,040	-4.0%	0.12%	+3.4%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$571,000	-38.1%	5,110	-33.5%	0.12%	-34.6%
SYF	Sell	SYNCHRONY FINANCIAL	$567,000	-6.4%	11,605	-7.0%	0.12%	-0.9%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$522,000	-10.0%	3,905	+0.6%	0.11%	-4.5%
PM	Sell	PHILIP MORRIS INTL INC	$462,000	-9.1%	4,875	-4.9%	0.10%	-3.1%
QSR	Buy	RESTAURANT BRANDS INTL INC	$454,000	-3.6%	7,417	+1.4%	0.09%	+2.2%
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$450,000	-9.8%	3,075	-0.8%	0.09%	-5.2%
WFC	Sell	WELLS FARGO CO NEW	$418,000	-9.7%	8,999	-12.0%	0.09%	-4.4%
ORMP	New	ORAMED PHARMACEUTICALS INC	$415,000	–	18,900	–	0.08%	–
KMI	Buy	KINDER MORGAN INC DEL	$414,000	+1.5%	24,732	+10.4%	0.08%	+7.6%
T	Sell	AT&T INC	$406,000	-11.2%	15,040	-5.2%	0.08%	-5.7%
PHM	Sell	PULTE GROUP INC	$407,000	-46.0%	8,860	-35.8%	0.08%	-43.2%
DHI	Sell	D R HORTON INC	$386,000	-26.6%	4,600	-21.0%	0.08%	-22.5%
SPPP	Sell	SPROTT PHYSICAL PLAT PALLADunit	$358,000	-35.8%	25,000	-15.8%	0.07%	-32.4%
GD	Buy	GENERAL DYNAMICS CORP	$345,000	+13.1%	1,759	+8.6%	0.07%	+20.3%
MMM	Sell	3M CO	$345,000	-13.1%	1,964	-1.8%	0.07%	-7.8%
MHK	Sell	MOHAWK INDS INC	$341,000	-39.5%	1,923	-34.5%	0.07%	-35.8%
LPX	Sell	LOUISIANA PAC CORP	$334,000	-38.8%	5,450	-39.8%	0.07%	-35.8%
DIS	Sell	DISNEY WALT CO	$324,000	-9.0%	1,914	-5.4%	0.07%	-4.3%
WMB	Sell	WILLIAMS COS INC	$311,000	-6.0%	12,000	-3.6%	0.06%	0.0%
JAZZ	Buy	JAZZ PHARMACEUTICALS PLC	$292,000	+18.2%	2,242	+61.3%	0.06%	+25.0%
PBRA	New	PETROLEO BRASILEIRO SA PETROsp adr non vtg	$288,000	–	27,900	–	0.06%	–
TSN	Sell	TYSON FOODS INCcl a	$246,000	-4.7%	3,119	-10.9%	0.05%	0.0%
EBAY	Sell	EBAY INC.	$220,000	-3.5%	3,163	-2.5%	0.04%	+2.3%
GIS	Sell	GENERAL MLS INC	$218,000	-9.5%	3,650	-7.6%	0.04%	-4.3%
VZ	Buy	VERIZON COMMUNICATIONS INC	$216,000	+5.9%	3,993	+9.6%	0.04%	+12.8%
ROKU	Exit	ROKU INC	$0	–	-467	–	-0.04%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-690	–	-0.05%	–
UL	Exit	UNILEVER PLCspon adr new	$0	–	-6,215	–	-0.07%	–
CFB	Exit	CROSSFIRST BANKSHARES INC	$0	–	-35,500	–	-0.09%	–

Q2 2021

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$176,099,000	–	633,632	–	34.08%	–
XOM	New	EXXON MOBIL CORP	$44,694,000	–	708,522	–	8.65%	–
QCOM	New	QUALCOMM INC	$27,936,000	–	195,453	–	5.41%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$20,581,000	–	140,402	–	3.98%	–
KHC	New	KRAFT HEINZ CO	$20,580,000	–	504,671	–	3.98%	–
RKT	New	ROCKET COS INC	$17,040,000	–	880,644	–	3.30%	–
JNJ	New	JOHNSON & JOHNSON	$14,255,000	–	86,531	–	2.76%	–
GILD	New	GILEAD SCIENCES INC	$12,816,000	–	186,110	–	2.48%	–
BAC	New	BK OF AMERICA CORP	$11,645,000	–	282,429	–	2.25%	–
NTAP	New	NETAPP INC	$7,608,000	–	92,982	–	1.47%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$7,410,000	–	2,259,265	–	1.43%	–
FDX	New	FEDEX CORP	$7,210,000	–	24,168	–	1.40%	–
OGN	New	ORGANON & CO	$7,209,000	–	238,225	–	1.40%	–
PFE	New	PFIZER INC	$7,135,000	–	182,199	–	1.38%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$6,611,000	–	77,492	–	1.28%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$6,438,000	–	28,388	–	1.25%	–
KO	New	COCA COLA CO	$6,354,000	–	117,426	–	1.23%	–
MCK	New	MCKESSON CORP	$6,222,000	–	32,535	–	1.20%	–
OXYWS	New	OCCIDENTAL PETE CORP*w exp 08/03/202	$5,831,000	–	419,179	–	1.13%	–
COP	New	CONOCOPHILLIPS	$5,768,000	–	94,715	–	1.12%	–
HD	New	HOME DEPOT INC	$5,720,000	–	17,937	–	1.11%	–
SLB	New	SCHLUMBERGER LTD	$5,453,000	–	170,368	–	1.06%	–
USB	New	US BANCORP DEL	$4,705,000	–	82,585	–	0.91%	–
CHWY	New	CHEWY INCcl a	$4,438,000	–	55,681	–	0.86%	–
OXY	New	OCCIDENTAL PETE CORP	$4,289,000	–	137,145	–	0.83%	–
LLY	New	LILLY ELI & CO	$3,927,000	–	17,110	–	0.76%	–
NXPI	New	NXP SEMICONDUCTORS N V	$3,916,000	–	19,035	–	0.76%	–
LOW	New	LOWES COS INC	$3,710,000	–	19,125	–	0.72%	–
MRK	New	MERCK & CO INC	$3,647,000	–	46,890	–	0.71%	–
BTI	New	BRITISH AMERN TOB PLCsponsored adr	$3,157,000	–	80,307	–	0.61%	–
BEN	New	FRANKLIN RESOURCES INC	$3,159,000	–	98,762	–	0.61%	–
STNE	New	STONECO LTD	$2,875,000	–	42,871	–	0.56%	–
XHB	New	SPDR SER TRs&p homebuild	$2,841,000	–	38,791	–	0.55%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$2,550,000	–	14,212	–	0.49%	–
CSCO	New	CISCO SYS INC	$2,294,000	–	43,289	–	0.44%	–
AAPL	New	APPLE INC	$2,246,000	–	16,400	–	0.44%	–
MO	New	ALTRIA GROUP INC	$2,195,000	–	46,039	–	0.42%	–
CAH	New	CARDINAL HEALTH INC	$1,891,000	–	33,115	–	0.37%	–
PEP	New	PEPSICO INC	$1,877,000	–	12,665	–	0.36%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$1,540,000	–	29,277	–	0.30%	–
ASO	New	ACADEMY SPORTS & OUTDOORS IN	$1,505,000	–	36,492	–	0.29%	–
DVN	New	DEVON ENERGY CORP NEW	$1,467,000	–	50,255	–	0.28%	–
PSX	New	PHILLIPS 66	$1,430,000	–	16,665	–	0.28%	–
PLTR	New	PALANTIR TECHNOLOGIES INCcl a	$1,133,000	–	42,994	–	0.22%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$1,095,000	–	5,709	–	0.21%	–
JPM	New	JPMORGAN CHASE & CO	$1,081,000	–	6,950	–	0.21%	–
CVX	New	CHEVRON CORP NEW	$1,018,000	–	9,715	–	0.20%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$923,000	–	7,685	–	0.18%	–
HON	New	HONEYWELL INTL INC	$923,000	–	4,210	–	0.18%	–
BBL	New	BHP GROUP PLCsponsored adr	$907,000	–	15,200	–	0.18%	–
HTGC	New	HERCULES CAPITAL INC	$886,000	–	51,950	–	0.17%	–
TXN	New	TEXAS INSTRS INC	$788,000	–	4,100	–	0.15%	–
PG	New	PROCTER AND GAMBLE CO	$769,000	–	5,700	–	0.15%	–
PHM	New	PULTE GROUP INC	$754,000	–	13,810	–	0.15%	–
INTC	New	INTEL CORP	$749,000	–	13,343	–	0.14%	–
MTB	New	M & T BK CORP	$730,000	–	5,025	–	0.14%	–
ABT	New	ABBOTT LABS	$609,000	–	5,250	–	0.12%	–
SYF	New	SYNCHRONY FINANCIAL	$606,000	–	12,480	–	0.12%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$580,000	–	3,880	–	0.11%	–
MHK	New	MOHAWK INDS INC	$564,000	–	2,935	–	0.11%	–
SPPP	New	SPROTT PHYSICAL PLAT PALLADunit	$558,000	–	29,675	–	0.11%	–
LPX	New	LOUISIANA PAC CORP	$546,000	–	9,050	–	0.11%	–
ITW	New	ILLINOIS TOOL WKS INC	$535,000	–	2,395	–	0.10%	–
DHI	New	D R HORTON INC	$526,000	–	5,825	–	0.10%	–
MCD	New	MCDONALDS CORP	$512,000	–	2,215	–	0.10%	–
PM	New	PHILIP MORRIS INTL INC	$508,000	–	5,125	–	0.10%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$499,000	–	3,100	–	0.10%	–
AMGN	New	AMGEN INC	$498,000	–	2,045	–	0.10%	–
CFB	New	CROSSFIRST BANKSHARES INC	$488,000	–	35,500	–	0.09%	–
QSR	New	RESTAURANT BRANDS INTL INC	$471,000	–	7,316	–	0.09%	–
WFC	New	WELLS FARGO CO NEW	$463,000	–	10,229	–	0.09%	–
T	New	AT&T INC	$457,000	–	15,865	–	0.09%	–
SO	New	SOUTHERN CO	$416,000	–	6,875	–	0.08%	–
KMI	New	KINDER MORGAN INC DEL	$408,000	–	22,397	–	0.08%	–
MMM	New	3M CO	$397,000	–	1,999	–	0.08%	–
UL	New	UNILEVER PLCspon adr new	$364,000	–	6,215	–	0.07%	–
DIS	New	DISNEY WALT CO	$356,000	–	2,024	–	0.07%	–
AXP	New	AMERICAN EXPRESS CO	$339,000	–	2,050	–	0.07%	–
WMB	New	WILLIAMS COS INC	$331,000	–	12,450	–	0.06%	–
GD	New	GENERAL DYNAMICS CORP	$305,000	–	1,619	–	0.06%	–
CSX	New	CSX CORP	$290,000	–	9,030	–	0.06%	–
TSLA	New	TESLA INC	$268,000	–	395	–	0.05%	–
EFA	New	ISHARES TRmsci eafe etf	$269,000	–	3,412	–	0.05%	–
TSN	New	TYSON FOODS INCcl a	$258,000	–	3,499	–	0.05%	–
MSFT	New	MICROSOFT CORP	$251,000	–	925	–	0.05%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$247,000	–	1,390	–	0.05%	–
ANET	New	ARISTA NETWORKS INC	$250,000	–	690	–	0.05%	–
GIS	New	GENERAL MLS INC	$241,000	–	3,950	–	0.05%	–
CAT	New	CATERPILLAR INC	$239,000	–	1,100	–	0.05%	–
DWM	New	WISDOMTREE TRintl equity fd	$235,000	–	4,319	–	0.04%	–
EBAY	New	EBAY INC.	$228,000	–	3,243	–	0.04%	–
EMR	New	EMERSON ELEC CO	$221,000	–	2,300	–	0.04%	–
ROKU	New	ROKU INC	$214,000	–	467	–	0.04%	–
VZ	New	VERIZON COMMUNICATIONS INC	$204,000	–	3,643	–	0.04%	–

Q4 2020

			Value		Shares		↓ Weighting
GHL	Exit	GREENHILL & CO INC	$0	–	-10,950	–	-0.03%	–
SPPP	Exit	SPROTT PHYSICAL PLAT PALLADunit	$0	–	-10,075	–	-0.04%	–
ROKU	Exit	ROKU INC	$0	–	-1,075	–	-0.05%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,050	–	-0.06%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-1,030	–	-0.06%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-3,512	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,115	–	-0.06%	–
CSX	Exit	CSX CORP	$0	–	-3,065	–	-0.06%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-13,025	–	-0.07%	–
DIS	Exit	DISNEY WALT CO	$0	–	-2,049	–	-0.07%	–
GIS	Exit	GENERAL MLS INC	$0	–	-4,450	–	-0.07%	–
CFB	Exit	CROSSFIRST BANKSHARES INC	$0	–	-32,500	–	-0.08%	–
SLNO	Exit	SOLENO THERAPEUTICS INC	$0	–	-134,195	–	-0.09%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-6,042	–	-0.09%	–
INTC	Exit	INTEL CORP	$0	–	-6,750	–	-0.09%	–
MMM	Exit	3M CO	$0	–	-2,265	–	-0.10%	–
SO	Exit	SOUTHERN CO	$0	–	-6,875	–	-0.10%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-5,225	–	-0.10%	–
AMGN	Exit	AMGEN INC	$0	–	-1,762	–	-0.12%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-47,245	–	-0.12%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-3,275	–	-0.12%	–
UN	Exit	UNILEVER N V	$0	–	-7,460	–	-0.12%	–
T	Exit	AT&T INC	$0	–	-16,240	–	-0.12%	–
PSX	Exit	PHILLIPS 66	$0	–	-9,325	–	-0.13%	–
MCK	Exit	MCKESSON CORP	$0	–	-3,332	–	-0.13%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,315	–	-0.14%	–
MTB	Exit	M & T BK CORP	$0	–	-5,575	–	-0.14%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,750	–	-0.14%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,100	–	-0.16%	–
SMPL	Exit	SIMPLY GOOD FOODS CO	$0	–	-27,180	–	-0.16%	–
ABT	Exit	ABBOTT LABS	$0	–	-5,550	–	-0.16%	–
HTGC	Exit	HERCULES CAPITAL INC	$0	–	-59,225	–	-0.18%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-10,090	–	-0.19%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-4,560	–	-0.20%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-7,880	–	-0.20%	–
BBL	Exit	BHP GROUP PLCsponsored adr	$0	–	-18,000	–	-0.20%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-20,735	–	-0.21%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-10,285	–	-0.22%	–
OXYWS	Exit	OCCIDENTAL PETE CORP*w exp 08/03/202	$0	–	-283,899	–	-0.23%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-6,325	–	-0.23%	–
SCPL	Exit	SCIPLAY CORPcl a	$0	–	-54,300	–	-0.24%	–
LPX	Exit	LOUISIANA PAC CORP	$0	–	-30,845	–	-0.24%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-9,550	–	-0.25%	–
SYF	Exit	SYNCHRONY FINANCIAL	$0	–	-40,745	–	-0.28%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-51,174	–	-0.32%	–
RKT	Exit	ROCKET COS INC	$0	–	-71,535	–	-0.38%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-50,115	–	-0.44%	–
CSCO	Exit	CISCO SYS INC	$0	–	-43,289	–	-0.45%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-12,097	–	-0.47%	–
BTI	Exit	BRITISH AMERN TOB PLCsponsored adr	$0	–	-49,115	–	-0.47%	–
AAPL	Exit	APPLE INC	$0	–	-15,666	–	-0.48%	–
PEP	Exit	PEPSICO INC	$0	–	-13,190	–	-0.49%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-97,805	–	-0.53%	–
XHB	Exit	SPDR SER TRs&p homebuild	$0	–	-43,041	–	-0.62%	–
LLY	Exit	LILLY ELI & CO	$0	–	-17,580	–	-0.69%	–
USB	Exit	US BANCORP DEL	$0	–	-84,565	–	-0.81%	–
STNE	Exit	STONECO LTD	$0	–	-57,380	–	-0.81%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-327,263	–	-0.87%	–
LOW	Exit	LOWES COS INC	$0	–	-21,185	–	-0.94%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-62,106	–	-0.95%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-242,133	–	-1.00%	–
MRK	Exit	MERCK & CO. INC	$0	–	-47,830	–	-1.06%	–
NTAP	Exit	NETAPP INC	$0	–	-95,125	–	-1.11%	–
CHWY	Exit	CHEWY INCcl a	$0	–	-80,876	–	-1.18%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-53,189	–	-1.43%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-86,866	–	-1.46%	–
KO	Exit	COCA COLA CO	$0	–	-116,215	–	-1.53%	–
HD	Exit	HOME DEPOT INC	$0	–	-21,792	–	-1.61%	–
PFE	Exit	PFIZER INC	$0	–	-173,308	–	-1.70%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-297,078	–	-1.91%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-73,616	–	-2.39%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-2,830,710	–	-2.63%	–
FDX	Exit	FEDEX CORP	$0	–	-43,412	–	-2.91%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-87,352	–	-3.47%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-469,257	–	-3.75%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-126,462	–	-4.21%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-680,456	–	-6.23%	–
QCOM	Exit	QUALCOMM INC	$0	–	-232,679	–	-7.30%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-660,197	–	-37.47%	–

Q3 2020

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$140,582,000	+20.9%	660,197	+1.3%	37.47%	+14.2%
QCOM	Sell	QUALCOMM INC	$27,382,000	+8.1%	232,679	-16.2%	7.30%	+2.1%
XOM	Buy	EXXON MOBIL CORP	$23,360,000	-4.2%	680,456	+24.8%	6.23%	-9.6%
NXPI	Sell	NXP SEMICONDUCTORS N V	$15,784,000	-6.7%	126,462	-14.7%	4.21%	-11.9%
KHC	Buy	KRAFT HEINZ CO	$14,054,000	-1.4%	469,257	+5.0%	3.75%	-6.9%
JNJ	Sell	JOHNSON & JOHNSON	$13,005,000	+4.1%	87,352	-1.6%	3.47%	-1.7%
FDX	Sell	FEDEX CORP	$10,919,000	+75.2%	43,412	-2.3%	2.91%	+65.4%
NAT	Sell	NORDIC AMERICAN TANKERS LIMI	$9,879,000	-14.7%	2,830,710	-0.8%	2.63%	-19.5%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$8,957,000	-29.3%	73,616	-29.8%	2.39%	-33.2%
BAC	Buy	BK OF AMERICA CORP	$7,157,000	+2.0%	297,078	+0.6%	1.91%	-3.6%
PFE	Buy	PFIZER INC	$6,360,000	+23.0%	173,308	+9.6%	1.70%	+16.2%
HD	Sell	HOME DEPOT INC	$6,052,000	-3.6%	21,792	-13.0%	1.61%	-8.9%
KO	Sell	COCA COLA CO	$5,738,000	+8.4%	116,215	-1.9%	1.53%	+2.3%
GILD	Buy	GILEAD SCIENCES INC	$5,489,000	+724.2%	86,866	+902.8%	1.46%	+678.2%
UTHR	Sell	UNITED THERAPEUTICS CORP DEL	$5,372,000	-61.4%	53,189	-53.8%	1.43%	-63.6%
CHWY	Sell	CHEWY INCcl a	$4,434,000	+16.9%	80,876	-4.7%	1.18%	+10.4%
NTAP	Buy	NETAPP INC	$4,170,000	+156.0%	95,125	+159.1%	1.11%	+141.5%
MRK	Sell	MERCK & CO. INC	$3,967,000	+2.7%	47,830	-4.2%	1.06%	-3.0%
SLB	Sell	SCHLUMBERGER LTD	$3,768,000	-39.8%	242,133	-28.8%	1.00%	-43.1%
RTX	New	RAYTHEON TECHNOLOGIES CORP	$3,574,000	–	62,106	–	0.95%	–
LOW	Sell	LOWES COS INC	$3,514,000	+17.4%	21,185	-4.4%	0.94%	+10.9%
OXY	Sell	OCCIDENTAL PETE CORP	$3,276,000	-68.9%	327,263	-43.2%	0.87%	-70.7%
STNE	Sell	STONECO LTD	$3,035,000	+7.4%	57,380	-21.3%	0.81%	+1.5%
USB	Buy	US BANCORP DEL	$3,032,000	-2.0%	84,565	+0.7%	0.81%	-7.4%
LLY	Sell	LILLY ELI & CO	$2,602,000	-14.5%	17,580	-5.2%	0.69%	-19.2%
XHB	New	SPDR SER TRs&p homebuild	$2,319,000	–	43,041	–	0.62%	–
BEN	Buy	FRANKLIN RESOURCES INC	$1,990,000	+109.9%	97,805	+116.4%	0.53%	+97.8%
PEP	Sell	PEPSICO INC	$1,828,000	-0.5%	13,190	-5.0%	0.49%	-6.2%
AAPL	Buy	APPLE INC	$1,814,000	-16.1%	15,666	+164.2%	0.48%	-20.8%
BTI	Buy	BRITISH AMERN TOB PLCsponsored adr	$1,776,000	+300.9%	49,115	+330.6%	0.47%	+278.4%
SWKS	Sell	SKYWORKS SOLUTIONS INC	$1,760,000	-15.3%	12,097	-25.6%	0.47%	-20.1%
CSCO	Sell	CISCO SYS INC	$1,705,000	-16.7%	43,289	-1.4%	0.45%	-21.5%
COP	Sell	CONOCOPHILLIPS	$1,646,000	-27.6%	50,115	-7.4%	0.44%	-31.6%
RKT	New	ROCKET COS INC	$1,426,000	–	71,535	–	0.38%	–
WFC	Sell	WELLS FARGO CO NEW	$1,203,000	-53.4%	51,174	-49.3%	0.32%	-56.0%
SYF	Buy	SYNCHRONY FINANCIAL	$1,066,000	+52.9%	40,745	+29.5%	0.28%	+44.2%
MHK	New	MOHAWK INDS INC	$932,000	–	9,550	–	0.25%	–
LPX	New	LOUISIANA PAC CORP	$910,000	–	30,845	–	0.24%	–
SCPL	Sell	SCIPLAY CORPcl a	$881,000	-42.8%	54,300	-47.7%	0.24%	-46.0%
PG	Sell	PROCTER AND GAMBLE CO	$879,000	+14.5%	6,325	-1.6%	0.23%	+7.8%
OXYWS	New	OCCIDENTAL PETE CORP*w exp 08/03/202	$852,000	–	283,899	–	0.23%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$834,000	–	10,285	–	0.22%	–
MO	Buy	ALTRIA GROUP INC	$801,000	+65.8%	20,735	+68.6%	0.21%	+56.6%
BBL	New	BHP GROUP PLCsponsored adr	$768,000	–	18,000	–	0.20%	–
JPM	Sell	JPMORGAN CHASE & CO	$759,000	-27.8%	7,880	-29.4%	0.20%	-32.0%
HON	Sell	HONEYWELL INTL INC	$751,000	-9.2%	4,560	-20.3%	0.20%	-14.2%
CVX	Buy	CHEVRON CORP NEW	$726,000	+1.3%	10,090	+25.7%	0.19%	-4.0%
HTGC	New	HERCULES CAPITAL INC	$685,000	–	59,225	–	0.18%	–
ABT	Sell	ABBOTT LABS	$604,000	-4.3%	5,550	-19.6%	0.16%	-9.6%
SMPL	Sell	SIMPLY GOOD FOODS CO	$599,000	-42.1%	27,180	-51.2%	0.16%	-45.2%
ITW	Sell	ILLINOIS TOOL WKS INC	$531,000	+8.4%	2,750	-1.8%	0.14%	+2.9%
MTB	Sell	M & T BK CORP	$513,000	-12.3%	5,575	-0.9%	0.14%	-17.0%
MCK	Buy	MCKESSON CORP	$496,000	+6.2%	3,332	+9.4%	0.13%	0.0%
PSX	New	PHILLIPS 66	$483,000	–	9,325	–	0.13%	–
T	Buy	AT&T INC	$463,000	-0.9%	16,240	+5.2%	0.12%	-6.8%
UN	New	UNILEVER N V	$451,000	–	7,460	–	0.12%	–
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$446,000	+4.4%	3,275	-8.4%	0.12%	-1.7%
AMGN	Sell	AMGEN INC	$448,000	-65.7%	1,762	-68.2%	0.12%	-67.8%
DVN	Buy	DEVON ENERGY CORP NEW	$447,000	-15.5%	47,245	+1.3%	0.12%	-20.1%
PM	Sell	PHILIP MORRIS INTL INC	$392,000	+5.9%	5,225	-0.9%	0.10%	0.0%
SO	Sell	SOUTHERN CO	$373,000	-17.1%	6,875	-20.7%	0.10%	-22.0%
MMM	Buy	3M CO	$363,000	+7.4%	2,265	+4.6%	0.10%	+2.1%
INTC	Sell	INTEL CORP	$350,000	-20.5%	6,750	-8.2%	0.09%	-25.0%
QSR	Buy	RESTAURANT BRANDS INTL INC	$347,000	+12.7%	6,042	+7.3%	0.09%	+5.7%
SLNO	New	SOLENO THERAPEUTICS INC	$337,000	–	134,195	–	0.09%	–
CFB	Buy	CROSSFIRST BANKSHARES INC	$282,000	-3.8%	32,500	+8.3%	0.08%	-9.6%
GIS	Sell	GENERAL MLS INC	$274,000	-42.8%	4,450	-42.8%	0.07%	-45.9%
DIS	Sell	DISNEY WALT CO	$254,000	-13.6%	2,049	-22.4%	0.07%	-18.1%
WMB	New	WILLIAMS COS INC	$256,000	–	13,025	–	0.07%	–
MSFT	Sell	MICROSOFT CORP	$235,000	-29.0%	1,115	-31.4%	0.06%	-32.3%
EFA	New	ISHARES TRmsci eafe etf	$224,000	–	3,512	–	0.06%	–
ANET	New	ARISTA NETWORKS INC	$213,000	–	1,030	–	0.06%	–
AXP	New	AMERICAN EXPRESS CO	$206,000	–	2,050	–	0.06%	–
ROKU	New	ROKU INC	$203,000	–	1,075	–	0.05%	–
SPPP	New	SPROTT PHYSICAL PLAT PALLADunit	$160,000	–	10,075	–	0.04%	–
GHL	New	GREENHILL & CO INC	$124,000	–	10,950	–	0.03%	–
WNC	Exit	WABASH NATL CORP	$0	–	-15,090	–	-0.04%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-15,600	–	-0.12%	–
APA	Exit	APACHE CORP	$0	–	-34,325	–	-0.13%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-200	–	-0.15%	–
SBR	Exit	SABINE ROYALTY TRunit ben int	$0	–	-22,725	–	-0.18%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-21,605	–	-0.20%	–
WPP	Exit	WPP PLC NEWadr	$0	–	-26,575	–	-0.29%	–
TPR	Exit	TAPESTRY INC	$0	–	-93,530	–	-0.35%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-246,875	–	-0.48%	–

Q2 2020

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$116,289,000	–	651,440	–	32.82%	–
QCOM	New	QUALCOMM INC	$25,322,000	–	277,621	–	7.15%	–
XOM	New	EXXON MOBIL CORP	$24,390,000	–	545,405	–	6.88%	–
NXPI	New	NXP SEMICONDUCTORS N V	$16,911,000	–	148,290	–	4.77%	–
KHC	New	KRAFT HEINZ CO	$14,249,000	–	446,811	–	4.02%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$13,935,000	–	115,168	–	3.93%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$12,663,000	–	104,855	–	3.57%	–
JNJ	New	JOHNSON & JOHNSON	$12,488,000	–	88,802	–	3.52%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$11,580,000	–	2,852,285	–	3.27%	–
OXY	New	OCCIDENTAL PETE CORP	$10,539,000	–	575,913	–	2.98%	–
BAC	New	BK OF AMERICA CORP	$7,016,000	–	295,418	–	1.98%	–
HD	New	HOME DEPOT INC	$6,275,000	–	25,049	–	1.77%	–
SLB	New	SCHLUMBERGER LTD	$6,258,000	–	340,273	–	1.77%	–
FDX	New	FEDEX CORP	$6,233,000	–	44,449	–	1.76%	–
KO	New	COCA COLA CO	$5,292,000	–	118,440	–	1.49%	–
PFE	New	PFIZER INC	$5,169,000	–	158,070	–	1.46%	–
MRK	New	MERCK & CO. INC	$3,862,000	–	49,946	–	1.09%	–
CHWY	New	CHEWY INCcl a	$3,794,000	–	84,891	–	1.07%	–
USB	New	US BANCORP DEL	$3,093,000	–	83,990	–	0.87%	–
LLY	New	LILLY ELI & CO	$3,044,000	–	18,540	–	0.86%	–
LOW	New	LOWES COS INC	$2,994,000	–	22,160	–	0.84%	–
STNE	New	STONECO LTD	$2,825,000	–	72,885	–	0.80%	–
WFC	New	WELLS FARGO CO NEW	$2,584,000	–	100,922	–	0.73%	–
COP	New	CONOCOPHILLIPS	$2,274,000	–	54,120	–	0.64%	–
AAPL	New	APPLE INC	$2,163,000	–	5,930	–	0.61%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$2,078,000	–	16,252	–	0.59%	–
CSCO	New	CISCO SYS INC	$2,047,000	–	43,889	–	0.58%	–
PEP	New	PEPSICO INC	$1,837,000	–	13,890	–	0.52%	–
GE	New	GENERAL ELECTRIC CO	$1,686,000	–	246,875	–	0.48%	–
NTAP	New	NETAPP INC	$1,629,000	–	36,715	–	0.46%	–
SCPL	New	SCIPLAY CORPcl a	$1,540,000	–	103,835	–	0.44%	–
AMGN	New	AMGEN INC	$1,308,000	–	5,547	–	0.37%	–
TPR	New	TAPESTRY INC	$1,242,000	–	93,530	–	0.35%	–
JPM	New	JPMORGAN CHASE & CO	$1,051,000	–	11,169	–	0.30%	–
WPP	New	WPP PLC NEWadr	$1,040,000	–	26,575	–	0.29%	–
SMPL	New	SIMPLY GOOD FOODS CO	$1,035,000	–	55,710	–	0.29%	–
BEN	New	FRANKLIN RESOURCES INC	$948,000	–	45,190	–	0.27%	–
HON	New	HONEYWELL INTL INC	$827,000	–	5,720	–	0.23%	–
PG	New	PROCTER AND GAMBLE CO	$768,000	–	6,425	–	0.22%	–
CVX	New	CHEVRON CORP NEW	$717,000	–	8,030	–	0.20%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$706,000	–	21,605	–	0.20%	–
SYF	New	SYNCHRONY FINANCIAL	$697,000	–	31,475	–	0.20%	–
GILD	New	GILEAD SCIENCES INC	$666,000	–	8,662	–	0.19%	–
SBR	New	SABINE ROYALTY TRunit ben int	$630,000	–	22,725	–	0.18%	–
ABT	New	ABBOTT LABS	$631,000	–	6,900	–	0.18%	–
MTB	New	M & T BK CORP	$585,000	–	5,625	–	0.16%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$535,000	–	200	–	0.15%	–
DVN	New	DEVON ENERGY CORP NEW	$529,000	–	46,620	–	0.15%	–
TXN	New	TEXAS INSTRS INC	$521,000	–	4,100	–	0.15%	–
ITW	New	ILLINOIS TOOL WKS INC	$490,000	–	2,800	–	0.14%	–
MO	New	ALTRIA GROUP INC	$483,000	–	12,300	–	0.14%	–
GIS	New	GENERAL MLS INC	$479,000	–	7,775	–	0.14%	–
T	New	AT&T INC	$467,000	–	15,443	–	0.13%	–
MCK	New	MCKESSON CORP	$467,000	–	3,047	–	0.13%	–
APA	New	APACHE CORP	$463,000	–	34,325	–	0.13%	–
SO	New	SOUTHERN CO	$450,000	–	8,670	–	0.13%	–
BTI	New	BRITISH AMERN TOB PLCsponsored adr	$443,000	–	11,405	–	0.12%	–
DAL	New	DELTA AIR LINES INC DEL	$438,000	–	15,600	–	0.12%	–
INTC	New	INTEL CORP	$440,000	–	7,350	–	0.12%	–
MCD	New	MCDONALDS CORP	$427,000	–	2,315	–	0.12%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$427,000	–	3,575	–	0.12%	–
PM	New	PHILIP MORRIS INTL INC	$370,000	–	5,275	–	0.10%	–
MMM	New	3M CO	$338,000	–	2,165	–	0.10%	–
MSFT	New	MICROSOFT CORP	$331,000	–	1,625	–	0.09%	–
QSR	New	RESTAURANT BRANDS INTL INC	$308,000	–	5,630	–	0.09%	–
DIS	New	DISNEY WALT CO	$294,000	–	2,639	–	0.08%	–
CFB	New	CROSSFIRST BANKSHARES INC	$293,000	–	30,000	–	0.08%	–
CSX	New	CSX CORP	$214,000	–	3,065	–	0.06%	–
WNC	New	WABASH NATL CORP	$160,000	–	15,090	–	0.04%	–

Q4 2019

			Value		Shares		↓ Weighting
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-6,350	–	-0.05%	–
MMM	Exit	3M CO	$0	–	-1,275	–	-0.05%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-4,319	–	-0.05%	–
CSX	Exit	CSX CORP	$0	–	-3,100	–	-0.05%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,575	–	-0.05%	–
MCK	Exit	MCKESSON CORP	$0	–	-1,702	–	-0.06%	–
TPR	Exit	TAPESTRY INC	$0	–	-9,170	–	-0.06%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,075	–	-0.06%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-4,680	–	-0.06%	–
ROKU	Exit	ROKU INC	$0	–	-2,615	–	-0.06%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,240	–	-0.06%	–
BUD	Exit	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$0	–	-2,890	–	-0.07%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-7,085	–	-0.07%	–
INTC	Exit	INTEL CORP	$0	–	-7,675	–	-0.09%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-5,268	–	-0.10%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-7,000	–	-0.10%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-3,150	–	-0.12%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,325	–	-0.12%	–
PSX	Exit	PHILLIPS 66	$0	–	-5,015	–	-0.12%	–
T	Exit	AT&T INC	$0	–	-13,755	–	-0.12%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,100	–	-0.13%	–
SO	Exit	SOUTHERN CO	$0	–	-8,550	–	-0.13%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-4,775	–	-0.16%	–
ABT	Exit	ABBOTT LABS	$0	–	-7,865	–	-0.16%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-47,575	–	-0.16%	–
DOW	Exit	DOW INC	$0	–	-17,015	–	-0.19%	–
WNC	Exit	WABASH NATL CORP	$0	–	-56,820	–	-0.20%	–
SJM	Exit	SMUCKER J M CO	$0	–	-8,030	–	-0.21%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-15,455	–	-0.21%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-14,707	–	-0.22%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-7,643	–	-0.23%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-5,720	–	-0.23%	–
MTB	Exit	M & T BK CORP	$0	–	-6,250	–	-0.24%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-8,575	–	-0.24%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-8,920	–	-0.25%	–
SYF	Exit	SYNCHRONY FINL	$0	–	-35,740	–	-0.29%	–
AAPL	Exit	APPLE INC	$0	–	-5,520	–	-0.30%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-968,780	–	-0.33%	–
PFE	Exit	PFIZER INC	$0	–	-47,685	–	-0.41%	–
FDX	Exit	FEDEX CORP	$0	–	-12,597	–	-0.44%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-34,180	–	-0.48%	–
WPP	Exit	WPP PLC NEWadr	$0	–	-35,290	–	-0.53%	–
LLY	Exit	LILLY ELI & CO	$0	–	-19,910	–	-0.53%	–
CSCO	Exit	CISCO SYS INC	$0	–	-46,414	–	-0.55%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-265,255	–	-0.57%	–
LOW	Exit	LOWES COS INC	$0	–	-21,925	–	-0.58%	–
PEP	Exit	PEPSICO INC	$0	–	-18,035	–	-0.59%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-37,682	–	-0.71%	–
AMGN	Exit	AMGEN INC	$0	–	-15,857	–	-0.73%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-57,295	–	-0.78%	–
STNE	Exit	STONECO LTD	$0	–	-94,440	–	-0.78%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-1,861,120	–	-0.96%	–
APA	Exit	APACHE CORP	$0	–	-164,835	–	-1.01%	–
USB	Exit	US BANCORP DEL	$0	–	-84,435	–	-1.12%	–
MRK	Exit	MERCK & CO INC	$0	–	-56,675	–	-1.14%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-103,666	–	-1.25%	–
GIS	Exit	GENERAL MLS INC	$0	–	-107,008	–	-1.41%	–
HD	Exit	HOME DEPOT INC	$0	–	-26,905	–	-1.49%	–
KO	Exit	COCA COLA CO	$0	–	-121,355	–	-1.58%	–
BAC	Exit	BANK AMER CORP	$0	–	-300,235	–	-2.09%	–
BP	Exit	BP PLCsponsored adr	$0	–	-259,800	–	-2.36%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-433,687	–	-2.89%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-100,974	–	-3.12%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-177,661	–	-3.38%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-522,730	–	-4.26%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-447,177	–	-4.74%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-188,955	–	-4.92%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-141,919	–	-4.92%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-343,164	–	-5.78%	–
QCOM	Exit	QUALCOMM INC	$0	–	-322,840	–	-5.88%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-657,991	–	-32.66%	–

Q3 2019

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$136,875,000	-4.5%	657,991	-2.1%	32.66%	+1.5%
QCOM	Sell	QUALCOMM INC	$24,626,000	-7.1%	322,840	-7.4%	5.88%	-1.3%
XOM	Sell	EXXON MOBIL CORP	$24,231,000	-20.3%	343,164	-13.5%	5.78%	-15.3%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$20,638,000	-9.7%	141,919	-14.3%	4.92%	-4.0%
NXPI	Sell	NXP SEMICONDUCTORS N V	$20,619,000	+3.9%	188,955	-7.1%	4.92%	+10.4%
OXY	Buy	OCCIDENTAL PETE CORP	$19,886,000	+64.0%	447,177	+85.5%	4.74%	+74.3%
SLB	Sell	SCHLUMBERGER LTD	$17,862,000	-31.5%	522,730	-20.3%	4.26%	-27.2%
UTHR	Buy	UNITED THERAPEUTICS CORP DEL	$14,168,000	+30.6%	177,661	+27.8%	3.38%	+38.8%
JNJ	Sell	JOHNSON & JOHNSON	$13,064,000	-11.1%	100,974	-4.3%	3.12%	-5.5%
KHC	Sell	KRAFT HEINZ CO	$12,115,000	-29.7%	433,687	-21.9%	2.89%	-25.3%
BP	Sell	BP PLCsponsored adr	$9,870,000	-31.1%	259,800	-24.4%	2.36%	-26.8%
BAC	Sell	BANK AMER CORP	$8,758,000	-5.7%	300,235	-6.3%	2.09%	+0.2%
KO	Sell	COCA COLA CO	$6,607,000	+2.8%	121,355	-3.8%	1.58%	+9.3%
HD	Sell	HOME DEPOT INC	$6,242,000	+8.1%	26,905	-3.1%	1.49%	+15.0%
GIS	Sell	GENERAL MLS INC	$5,898,000	-17.1%	107,008	-21.0%	1.41%	-12.0%
WFC	Sell	WELLS FARGO CO NEW	$5,229,000	+1.3%	103,666	-5.0%	1.25%	+7.7%
MRK	Sell	MERCK & CO INC	$4,771,000	-1.8%	56,675	-2.1%	1.14%	+4.3%
USB	Sell	US BANCORP DEL	$4,673,000	+3.4%	84,435	-2.1%	1.12%	+9.9%
APA	Buy	APACHE CORP	$4,220,000	+27.9%	164,835	+44.8%	1.01%	+35.9%
NAT	Sell	NORDIC AMERICAN TANKERS LIMI	$4,020,000	-8.9%	1,861,120	-1.3%	0.96%	-3.2%
STNE	Sell	STONECO LTD	$3,285,000	+17.5%	94,440	-0.1%	0.78%	+24.8%
COP	Sell	CONOCOPHILLIPS	$3,265,000	-9.0%	57,295	-2.6%	0.78%	-3.3%
AMGN	Sell	AMGEN INC	$3,068,000	+4.6%	15,857	-0.3%	0.73%	+11.2%
SWKS	Buy	SKYWORKS SOLUTIONS INC	$2,986,000	+14.1%	37,682	+11.2%	0.71%	+21.3%
PEP	Sell	PEPSICO INC	$2,473,000	+1.8%	18,035	-2.6%	0.59%	+8.3%
LOW	Sell	LOWES COS INC	$2,411,000	+8.3%	21,925	-0.7%	0.58%	+15.0%
GE	Sell	GENERAL ELECTRIC CO	$2,371,000	-20.2%	265,255	-6.2%	0.57%	-15.1%
CSCO	Sell	CISCO SYS INC	$2,293,000	-10.6%	46,414	-1.0%	0.55%	-5.0%
WPP	Buy	WPP PLC NEWadr	$2,209,000	+56.7%	35,290	+57.4%	0.53%	+66.2%
RDSA	Sell	ROYAL DUTCH SHELL PLCspons adr a	$2,011,000	-32.4%	34,180	-25.3%	0.48%	-28.1%
FDX	Buy	FEDEX CORP	$1,834,000	+4.2%	12,597	+17.5%	0.44%	+10.9%
PFE	Buy	PFIZER INC	$1,713,000	-16.0%	47,685	+1.3%	0.41%	-10.7%
CHK	Sell	CHESAPEAKE ENERGY CORP	$1,366,000	-28.0%	968,780	-0.4%	0.33%	-23.5%
AAPL	Sell	APPLE INC	$1,236,000	+12.9%	5,520	-0.3%	0.30%	+19.9%
SYF	Sell	SYNCHRONY FINL	$1,218,000	-9.8%	35,740	-8.3%	0.29%	-4.0%
CVX	Sell	CHEVRON CORP NEW	$1,058,000	-5.5%	8,920	-0.8%	0.25%	+0.4%
HON	Sell	HONEYWELL INTL INC	$968,000	-6.4%	5,720	-3.5%	0.23%	-0.4%
PG	Sell	PROCTER & GAMBLE CO	$951,000	+0.3%	7,643	-11.6%	0.23%	+6.6%
GILD	Sell	GILEAD SCIENCES INC	$932,000	-8.4%	14,707	-2.3%	0.22%	-2.6%
TAP	Buy	MOLSON COORS BREWING COcl b	$889,000	+243.2%	15,455	+234.2%	0.21%	+265.5%
SJM	Buy	SMUCKER J M CO	$883,000	-3.9%	8,030	+0.6%	0.21%	+2.4%
WNC	Sell	WABASH NATL CORP	$824,000	-32.0%	56,820	-23.7%	0.20%	-27.6%
DOW	New	DOW INC	$811,000	–	17,015	–	0.19%	–
CEF	Sell	CENTRAL FD CDA LTDcl a	$674,000	-9.3%	47,575	-15.3%	0.16%	-3.6%
ABT	Sell	ABBOTT LABS	$658,000	-4.8%	7,865	-4.3%	0.16%	+1.3%
ZBH	Sell	ZIMMER BIOMET HLDGS INC	$655,000	+9.2%	4,775	-6.4%	0.16%	+15.6%
SO	New	SOUTHERN CO	$528,000	–	8,550	–	0.13%	–
TXN	Sell	TEXAS INSTRS INC	$530,000	+11.3%	4,100	-1.1%	0.13%	+17.8%
T	Buy	AT&T INC	$520,000	+13.0%	13,755	+0.3%	0.12%	+20.4%
PSX	Sell	PHILLIPS 66	$514,000	-26.1%	5,015	-32.6%	0.12%	-21.2%
MCD	Sell	MCDONALDS CORP	$499,000	+0.8%	2,325	-2.5%	0.12%	+7.2%
RDSB	Sell	ROYAL DUTCH SHELL PLCspon adr b	$419,000	-12.3%	7,000	-3.8%	0.10%	-6.5%
MO	Buy	ALTRIA GROUP INC	$290,000	-4.9%	7,085	+10.0%	0.07%	+1.5%
BUD	Sell	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$275,000	-73.6%	2,890	-75.4%	0.07%	-71.8%
ROKU	Sell	ROKU INC	$266,000	+1.1%	2,615	-10.0%	0.06%	+6.8%
AXP	Sell	AMERICAN EXPRESS CO	$245,000	-6.5%	2,075	-2.4%	0.06%	-1.7%
TPR	Sell	TAPESTRY INC	$239,000	-52.3%	9,170	-41.9%	0.06%	-49.1%
MCK	New	MCKESSON CORP	$233,000	–	1,702	–	0.06%	–
MMM	New	3M CO	$210,000	–	1,275	–	0.05%	–
SU	Sell	SUNCOR ENERGY INC NEW	$201,000	-44.2%	6,350	-45.0%	0.05%	-40.7%
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-8,025	–	-0.05%	–
HP	Exit	HELMERICH & PAYNE INC	$0	–	-18,015	–	-0.20%	–

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$143,257,000	–	672,031	–	32.17%	–
XOM	New	EXXON MOBIL CORP	$30,397,000	–	396,671	–	6.82%	–
QCOM	New	QUALCOMM INC	$26,511,000	–	348,511	–	5.95%	–
SLB	New	SCHLUMBERGER LTD	$26,076,000	–	656,173	–	5.86%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$22,847,000	–	165,680	–	5.13%	–
NXPI	New	NXP SEMICONDUCTORS N V	$19,848,000	–	203,335	–	4.46%	–
KHC	New	KRAFT HEINZ CO	$17,232,000	–	555,150	–	3.87%	–
JNJ	New	JOHNSON & JOHNSON	$14,690,000	–	105,474	–	3.30%	–
BP	New	BP PLCsponsored adr	$14,328,000	–	343,605	–	3.22%	–
OXY	New	OCCIDENTAL PETE CORP	$12,122,000	–	241,087	–	2.72%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$10,849,000	–	138,978	–	2.44%	–
BAC	New	BANK AMER CORP	$9,292,000	–	320,400	–	2.09%	–
GIS	New	GENERAL MLS INC	$7,117,000	–	135,518	–	1.60%	–
KO	New	COCA COLA CO	$6,426,000	–	126,195	–	1.44%	–
HD	New	HOME DEPOT INC	$5,772,000	–	27,755	–	1.30%	–
WFC	New	WELLS FARGO CO NEW	$5,161,000	–	109,071	–	1.16%	–
MRK	New	MERCK & CO INC	$4,857,000	–	57,920	–	1.09%	–
USB	New	US BANCORP DEL	$4,521,000	–	86,285	–	1.02%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$4,414,000	–	1,886,395	–	0.99%	–
COP	New	CONOCOPHILLIPS	$3,588,000	–	58,825	–	0.81%	–
APA	New	APACHE CORP	$3,299,000	–	113,865	–	0.74%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$2,976,000	–	45,735	–	0.67%	–
GE	New	GENERAL ELECTRIC CO	$2,971,000	–	282,930	–	0.67%	–
AMGN	New	AMGEN INC	$2,932,000	–	15,912	–	0.66%	–
STNE	New	STONECO LTD	$2,795,000	–	94,495	–	0.63%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$2,618,000	–	33,887	–	0.59%	–
CSCO	New	CISCO SYS INC	$2,565,000	–	46,864	–	0.58%	–
PEP	New	PEPSICO INC	$2,429,000	–	18,520	–	0.54%	–
LOW	New	LOWES COS INC	$2,227,000	–	22,070	–	0.50%	–
LLY	New	LILLY ELI & CO	$2,206,000	–	19,910	–	0.50%	–
PFE	New	PFIZER INC	$2,040,000	–	47,085	–	0.46%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,896,000	–	972,230	–	0.43%	–
FDX	New	FEDEX CORP	$1,760,000	–	10,717	–	0.40%	–
WPP	New	WPP PLC NEWadr	$1,410,000	–	22,420	–	0.32%	–
SYF	New	SYNCHRONY FINL	$1,351,000	–	38,975	–	0.30%	–
WNC	New	WABASH NATL CORP	$1,212,000	–	74,470	–	0.27%	–
CVX	New	CHEVRON CORP NEW	$1,119,000	–	8,995	–	0.25%	–
AAPL	New	APPLE INC	$1,095,000	–	5,535	–	0.25%	–
MTB	New	M & T BK CORP	$1,063,000	–	6,250	–	0.24%	–
BUD	New	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$1,040,000	–	11,750	–	0.23%	–
HON	New	HONEYWELL INTL INC	$1,034,000	–	5,925	–	0.23%	–
GILD	New	GILEAD SCIENCES INC	$1,017,000	–	15,047	–	0.23%	–
JPM	New	JPMORGAN CHASE & CO	$959,000	–	8,575	–	0.22%	–
PG	New	PROCTER AND GAMBLE CO	$948,000	–	8,643	–	0.21%	–
SJM	New	SMUCKER J M CO	$919,000	–	7,980	–	0.21%	–
HP	New	HELMERICH & PAYNE INC	$912,000	–	18,015	–	0.20%	–
CEF	New	CENTRAL FD CDA LTDcl a	$743,000	–	56,150	–	0.17%	–
PSX	New	PHILLIPS 66	$696,000	–	7,445	–	0.16%	–
ABT	New	ABBOTT LABS	$691,000	–	8,215	–	0.16%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$600,000	–	5,100	–	0.14%	–
TPR	New	TAPESTRY INC	$501,000	–	15,775	–	0.11%	–
MCD	New	MCDONALDS CORP	$495,000	–	2,385	–	0.11%	–
TXN	New	TEXAS INSTRS INC	$476,000	–	4,145	–	0.11%	–
ITW	New	ILLINOIS TOOL WKS INC	$475,000	–	3,150	–	0.11%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$478,000	–	7,275	–	0.11%	–
T	New	AT&T INC	$460,000	–	13,720	–	0.10%	–
PM	New	PHILIP MORRIS INTL INC	$414,000	–	5,268	–	0.09%	–
INTC	New	INTEL CORP	$367,000	–	7,675	–	0.08%	–
SU	New	SUNCOR ENERGY INC NEW	$360,000	–	11,555	–	0.08%	–
MO	New	ALTRIA GROUP INC	$305,000	–	6,442	–	0.07%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$267,000	–	9,240	–	0.06%	–
ROKU	New	ROKU INC	$263,000	–	2,905	–	0.06%	–
AXP	New	AMERICAN EXPRESS CO	$262,000	–	2,125	–	0.06%	–
TAP	New	MOLSON COORS BREWING COcl b	$259,000	–	4,625	–	0.06%	–
MDLZ	New	MONDELEZ INTL INCcl a	$252,000	–	4,680	–	0.06%	–
CSX	New	CSX CORP	$240,000	–	3,100	–	0.05%	–
DVN	New	DEVON ENERGY CORP NEW	$229,000	–	8,025	–	0.05%	–
DWM	New	WISDOMTREE TRintl equity fd	$220,000	–	4,319	–	0.05%	–
MSFT	New	MICROSOFT CORP	$211,000	–	1,575	–	0.05%	–

Q4 2018

			Value		Shares		↓ Weighting
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-11,010	–	-0.04%	–
MMM	Exit	3M CO	$0	–	-953	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-5,125	–	-0.04%	–
AMBA	Exit	AMBARELLA INC	$0	–	-5,650	–	-0.05%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-4,319	–	-0.05%	–
STOR	Exit	STORE CAP CORP	$0	–	-8,400	–	-0.05%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,275	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-5,980	–	-0.06%	–
BKR	Exit	BAKER HUGHES A GE COcl a	$0	–	-7,650	–	-0.06%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,240	–	-0.06%	–
CSX	Exit	CSX CORP	$0	–	-3,625	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,662	–	-0.07%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-5,717	–	-0.07%	–
INTC	Exit	INTEL CORP	$0	–	-7,275	–	-0.07%	–
SYNA	Exit	SYNAPTICS INC	$0	–	-8,170	–	-0.08%	–
BB	Exit	BLACKBERRY LTD	$0	–	-32,550	–	-0.08%	–
SO	Exit	SOUTHERN CO	$0	–	-9,037	–	-0.08%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,475	–	-0.09%	–
FDX	Exit	FEDEX CORP	$0	–	-1,833	–	-0.10%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-3,153	–	-0.10%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-5,593	–	-0.10%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-11,360	–	-0.10%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-10,610	–	-0.10%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,245	–	-0.10%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-6,875	–	-0.10%	–
BPT	Exit	BP PRUDHOE BAY RTY TRunit ben int	$0	–	-14,325	–	-0.11%	–
T	Exit	AT&T INC	$0	–	-15,507	–	-0.11%	–
IBKC	Exit	IBERIABANK CORP	$0	–	-7,172	–	-0.13%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-5,250	–	-0.15%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-47,585	–	-0.15%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-8,803	–	-0.16%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-19,005	–	-0.16%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-8,840	–	-0.22%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-6,075	–	-0.22%	–
MTB	Exit	M & T BK CORP	$0	–	-6,250	–	-0.22%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-11,517	–	-0.22%	–
ROKU	Exit	ROKU INC	$0	–	-15,155	–	-0.24%	–
SBR	Exit	SABINE ROYALTY TRunit ben int	$0	–	-28,127	–	-0.26%	–
AAPL	Exit	APPLE INC	$0	–	-5,466	–	-0.27%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-11,216	–	-0.30%	–
HBI	Exit	HANESBRANDS INC	$0	–	-78,785	–	-0.31%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-138,975	–	-0.35%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-108,830	–	-0.35%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-217,765	–	-0.53%	–
CSCO	Exit	CISCO SYS INC	$0	–	-50,789	–	-0.53%	–
PFE	Exit	PFIZER INC	$0	–	-56,060	–	-0.53%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-38,230	–	-0.56%	–
LOW	Exit	LOWES COS INC	$0	–	-22,764	–	-0.56%	–
ABT	Exit	ABBOTT LABS	$0	–	-36,916	–	-0.58%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-614,720	–	-0.60%	–
LLY	Exit	LILLY ELI & CO	$0	–	-26,215	–	-0.61%	–
PEP	Exit	PEPSICO INC	$0	–	-25,467	–	-0.61%	–
AMGN	Exit	AMGEN INC	$0	–	-15,757	–	-0.70%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-1,720,945	–	-0.78%	–
USB	Exit	US BANCORP DEL	$0	–	-91,028	–	-1.04%	–
APA	Exit	APACHE CORP	$0	–	-106,425	–	-1.09%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$0	–	-236,895	–	-1.10%	–
HP	Exit	HELMERICH & PAYNE INC	$0	–	-80,860	–	-1.20%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-118,881	–	-1.35%	–
HD	Exit	HOME DEPOT INC	$0	–	-30,544	–	-1.36%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-83,465	–	-1.39%	–
GIS	Exit	GENERAL MLS INC	$0	–	-154,920	–	-1.43%	–
KO	Exit	COCA COLA CO	$0	–	-167,615	–	-1.67%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-130,719	–	-1.72%	–
USG	Exit	U S G CORP	$0	–	-209,115	–	-1.95%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-187,989	–	-2.23%	–
BAC	Exit	BANK AMER CORP	$0	–	-354,680	–	-2.25%	–
TPR	Exit	TAPESTRY INC	$0	–	-216,150	–	-2.34%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-142,902	–	-2.38%	–
MRK	Exit	MERCK & CO INC	$0	–	-230,740	–	-3.53%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-121,682	–	-3.62%	–
BP	Exit	BP PLCsponsored adr	$0	–	-455,835	–	-4.53%	–
QCOM	Exit	QUALCOMM INC	$0	–	-337,568	–	-5.24%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-198,203	–	-6.46%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-415,400	–	-7.61%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-698,442	–	-32.22%	–

Q3 2018

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$149,543,000	+11.6%	698,442	-2.7%	32.22%	+11.1%
XOM	Sell	EXXON MOBIL CORP	$35,317,000	+0.2%	415,400	-2.5%	7.61%	-0.2%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$29,970,000	+6.6%	198,203	-1.5%	6.46%	+6.1%
QCOM	Sell	QUALCOMM INC	$24,315,000	+19.7%	337,568	-6.7%	5.24%	+19.1%
BP	Sell	BP PLCsponsored adr	$21,014,000	-0.6%	455,835	-1.6%	4.53%	-1.1%
JNJ	Sell	JOHNSON & JOHNSON	$16,813,000	+10.2%	121,682	-3.3%	3.62%	+9.7%
MRK	Sell	MERCK & CO INC	$16,369,000	+7.9%	230,740	-7.7%	3.53%	+7.4%
GILD	Sell	GILEAD SCIENCES INC	$11,033,000	+8.1%	142,902	-0.8%	2.38%	+7.6%
TPR	Sell	TAPESTRY INC	$10,866,000	-27.8%	216,150	-33.0%	2.34%	-28.2%
BAC	Sell	BANK AMER CORP	$10,449,000	-7.3%	354,680	-11.3%	2.25%	-7.7%
KHC	Buy	KRAFT HEINZ CO	$10,360,000	+32.0%	187,989	+50.5%	2.23%	+31.4%
USG	Sell	U S G CORP	$9,057,000	-15.0%	209,115	-15.4%	1.95%	-15.4%
SLB	New	SCHLUMBERGER LTD	$7,963,000	–	130,719	–	1.72%	–
KO	Sell	COCA COLA CO	$7,742,000	+2.3%	167,615	-2.9%	1.67%	+1.8%
GIS	Buy	GENERAL MLS INC	$6,649,000	+703.0%	154,920	+728.2%	1.43%	+700.6%
COP	Sell	CONOCOPHILLIPS	$6,460,000	-21.4%	83,465	-29.3%	1.39%	-21.8%
HD	Sell	HOME DEPOT INC	$6,327,000	-3.4%	30,544	-9.1%	1.36%	-3.9%
WFC	Sell	WELLS FARGO CO NEW	$6,248,000	-9.2%	118,881	-4.2%	1.35%	-9.6%
HP	Sell	HELMERICH & PAYNE INC	$5,561,000	+2.2%	80,860	-5.3%	1.20%	+1.7%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$5,103,000	-13.3%	236,895	-2.1%	1.10%	-13.7%
APA	Sell	APACHE CORP	$5,073,000	+1.0%	106,425	-1.0%	1.09%	+0.6%
USB	Sell	US BANCORP DEL	$4,807,000	+0.5%	91,028	-4.8%	1.04%	+0.1%
NAT	Buy	NORDIC AMERICAN TANKERS LIMI	$3,597,000	-19.0%	1,720,945	+3.9%	0.78%	-19.4%
AMGN	Buy	AMGEN INC	$3,266,000	+12.5%	15,757	+0.2%	0.70%	+11.9%
PEP	Sell	PEPSICO INC	$2,847,000	-4.3%	25,467	-6.8%	0.61%	-4.8%
LLY	Sell	LILLY ELI & CO	$2,813,000	+21.1%	26,215	-3.7%	0.61%	+20.5%
CHK	Buy	CHESAPEAKE ENERGY CORP	$2,760,000	+29.8%	614,720	+51.5%	0.60%	+29.3%
ABT	Sell	ABBOTT LABS	$2,708,000	-3.9%	36,916	-20.1%	0.58%	-4.4%
LOW	Sell	LOWES COS INC	$2,614,000	+20.1%	22,764	-0.0%	0.56%	+19.5%
RDSA	Sell	ROYAL DUTCH SHELL PLCspons adr a	$2,605,000	-5.8%	38,230	-4.3%	0.56%	-6.2%
PFE	Sell	PFIZER INC	$2,471,000	+16.3%	56,060	-4.3%	0.53%	+15.7%
CSCO	Sell	CISCO SYS INC	$2,471,000	-12.2%	50,789	-22.4%	0.53%	-12.6%
GE	Buy	GENERAL ELECTRIC CO	$2,459,000	+42.3%	217,765	+71.5%	0.53%	+41.7%
BBBY	Sell	BED BATH & BEYOND INC	$1,632,000	-55.9%	108,830	-41.4%	0.35%	-56.1%
CEF	Sell	CENTRAL FD CDA LTDcl a	$1,623,000	-31.9%	138,975	-27.0%	0.35%	-32.2%
HBI	Buy	HANESBRANDS INC	$1,452,000	+51.7%	78,785	+81.3%	0.31%	+51.2%
CVX	Sell	CHEVRON CORP NEW	$1,371,000	-5.8%	11,216	-2.6%	0.30%	-6.3%
AAPL	Sell	APPLE INC	$1,234,000	+20.7%	5,466	-1.0%	0.27%	+20.4%
SBR	New	SABINE ROYALTY TRunit ben int	$1,187,000	–	28,127	–	0.26%	–
ROKU	Sell	ROKU INC	$1,107,000	+47.2%	15,155	-14.1%	0.24%	+46.6%
SWKS	New	SKYWORKS SOLUTIONS INC	$1,045,000	–	11,517	–	0.22%	–
MTB	Sell	M & T BK CORP	$1,028,000	-9.1%	6,250	-6.0%	0.22%	-9.8%
HON	Sell	HONEYWELL INTL INC	$1,011,000	-13.1%	6,075	-24.8%	0.22%	-13.5%
JPM	Sell	JPMORGAN CHASE & CO	$998,000	+1.4%	8,840	-6.4%	0.22%	+0.9%
SU	Sell	SUNCOR ENERGY INC NEW	$735,000	-56.7%	19,005	-54.5%	0.16%	-57.1%
PG	Sell	PROCTER AND GAMBLE CO	$733,000	+3.1%	8,803	-3.3%	0.16%	+2.6%
VIVO	Sell	MERIDIAN BIOSCIENCE INC	$709,000	-49.1%	47,585	-45.7%	0.15%	-49.3%
IBKC	Sell	IBERIABANK CORP	$583,000	-5.8%	7,172	-12.2%	0.13%	-6.0%
T	Buy	AT&T INC	$521,000	+12.5%	15,507	+7.4%	0.11%	+12.0%
BPT	Sell	BP PRUDHOE BAY RTY TRunit ben int	$493,000	+14.4%	14,325	-0.7%	0.11%	+14.0%
TXN	Sell	TEXAS INSTRS INC	$455,000	-4.0%	4,245	-1.2%	0.10%	-4.9%
NOV	Sell	NATIONAL OILWELL VARCO INC	$457,000	-4.2%	10,610	-3.4%	0.10%	-4.9%
DVN	Sell	DEVON ENERGY CORP NEW	$454,000	-12.9%	11,360	-4.2%	0.10%	-13.3%
FDX	Buy	FEDEX CORP	$441,000	+43.2%	1,833	+35.0%	0.10%	+41.8%
SO	New	SOUTHERN CO	$394,000	–	9,037	–	0.08%	–
BB	Sell	BLACKBERRY LTD	$370,000	-38.9%	32,550	-48.2%	0.08%	-38.9%
SYNA	Sell	SYNAPTICS INC	$373,000	-33.7%	8,170	-26.9%	0.08%	-34.4%
INTC	Sell	INTEL CORP	$344,000	-7.8%	7,275	-3.0%	0.07%	-8.6%
MSFT	Sell	MICROSOFT CORP	$304,000	+7.8%	2,662	-7.0%	0.07%	+8.2%
CSX	Sell	CSX CORP	$268,000	+15.0%	3,625	-0.7%	0.06%	+16.0%
AMBA	Sell	AMBARELLA INC	$219,000	-70.2%	5,650	-70.3%	0.05%	-70.4%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$206,000	-74.1%	5,125	-74.1%	0.04%	-74.4%
MMM	New	3M CO	$201,000	–	953	–	0.04%	–
KMI	Sell	KINDER MORGAN INC DEL	$195,000	-5.8%	11,010	-5.8%	0.04%	-6.7%
NAO	Exit	NORDIC AMERN OFFSHORE LTD	$0	–	-15,551	–	-0.00%	–
BIIB	Exit	BIOGEN INC	$0	–	-750	–	-0.05%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-3,671	–	-0.05%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-5,880	–	-0.07%	–
WNC	Exit	WABASH NATL CORP	$0	–	-34,100	–	-0.14%	–
GHL	Exit	GREENHILL & CO INC	$0	–	-47,800	–	-0.29%	–
WPP	Exit	WPP PLC NEWadr	$0	–	-30,950	–	-0.53%	–
APY	Exit	APERGY CORP	$0	–	-81,637	–	-0.74%	–
PSX	Exit	PHILLIPS 66	$0	–	-59,480	–	-1.45%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-118,703	–	-2.91%	–

Q2 2018

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$134,028,000	–	718,071	–	29.01%	–
XOM	New	EXXON MOBIL CORP	$35,234,000	–	425,895	–	7.63%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$28,118,000	–	201,272	–	6.09%	–
BP	New	BP PLCsponsored adr	$21,150,000	–	463,210	–	4.58%	–
QCOM	New	QUALCOMM INC	$20,313,000	–	361,963	–	4.40%	–
JNJ	New	JOHNSON & JOHNSON	$15,261,000	–	125,772	–	3.30%	–
MRK	New	MERCK & CO INC	$15,177,000	–	250,040	–	3.28%	–
TPR	New	TAPESTRY INC	$15,060,000	–	322,425	–	3.26%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$13,431,000	–	118,703	–	2.91%	–
BAC	New	BANK AMER CORP	$11,271,000	–	399,805	–	2.44%	–
USG	New	U S G CORP	$10,659,000	–	247,195	–	2.31%	–
GILD	New	GILEAD SCIENCES INC	$10,207,000	–	144,087	–	2.21%	–
COP	New	CONOCOPHILLIPS	$8,218,000	–	118,040	–	1.78%	–
KHC	New	KRAFT HEINZ CO	$7,847,000	–	124,910	–	1.70%	–
KO	New	COCA COLA CO	$7,571,000	–	172,615	–	1.64%	–
WFC	New	WELLS FARGO CO NEW	$6,878,000	–	124,071	–	1.49%	–
PSX	New	PHILLIPS 66	$6,680,000	–	59,480	–	1.45%	–
HD	New	HOME DEPOT INC	$6,553,000	–	33,589	–	1.42%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$5,886,000	–	242,005	–	1.27%	–
HP	New	HELMERICH & PAYNE INC	$5,443,000	–	85,360	–	1.18%	–
APA	New	APACHE CORP	$5,024,000	–	107,460	–	1.09%	–
USB	New	US BANCORP DEL	$4,782,000	–	95,595	–	1.04%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$4,440,000	–	1,656,895	–	0.96%	–
BBBY	New	BED BATH & BEYOND INC	$3,703,000	–	185,855	–	0.80%	–
APY	New	APERGY CORP	$3,408,000	–	81,637	–	0.74%	–
PEP	New	PEPSICO INC	$2,974,000	–	27,317	–	0.64%	–
AMGN	New	AMGEN INC	$2,904,000	–	15,732	–	0.63%	–
ABT	New	ABBOTT LABS	$2,819,000	–	46,216	–	0.61%	–
CSCO	New	CISCO SYS INC	$2,815,000	–	65,425	–	0.61%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$2,764,000	–	39,930	–	0.60%	–
WPP	New	WPP PLC NEWadr	$2,432,000	–	30,950	–	0.53%	–
CEF	New	CENTRAL FD CDA LTDcl a	$2,384,000	–	190,300	–	0.52%	–
LLY	New	LILLY ELI & CO	$2,322,000	–	27,215	–	0.50%	–
LOW	New	LOWES COS INC	$2,177,000	–	22,774	–	0.47%	–
PFE	New	PFIZER INC	$2,125,000	–	58,585	–	0.46%	–
CHK	New	CHESAPEAKE ENERGY CORP	$2,126,000	–	405,685	–	0.46%	–
GE	New	GENERAL ELECTRIC CO	$1,728,000	–	126,975	–	0.37%	–
SU	New	SUNCOR ENERGY INC NEW	$1,699,000	–	41,770	–	0.37%	–
CVX	New	CHEVRON CORP NEW	$1,456,000	–	11,516	–	0.32%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$1,393,000	–	87,635	–	0.30%	–
GHL	New	GREENHILL & CO INC	$1,358,000	–	47,800	–	0.29%	–
HON	New	HONEYWELL INTL INC	$1,163,000	–	8,075	–	0.25%	–
MTB	New	M & T BK CORP	$1,131,000	–	6,650	–	0.24%	–
AAPL	New	APPLE INC	$1,022,000	–	5,521	–	0.22%	–
JPM	New	JPMORGAN CHASE & CO	$984,000	–	9,440	–	0.21%	–
HBI	New	HANESBRANDS INC	$957,000	–	43,460	–	0.21%	–
GIS	New	GENERAL MLS INC	$828,000	–	18,705	–	0.18%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$796,000	–	19,755	–	0.17%	–
ROKU	New	ROKU INC	$752,000	–	17,640	–	0.16%	–
AMBA	New	AMBARELLA INC	$736,000	–	19,053	–	0.16%	–
PG	New	PROCTER AND GAMBLE CO	$711,000	–	9,103	–	0.15%	–
WNC	New	WABASH NATL CORP	$636,000	–	34,100	–	0.14%	–
IBKC	New	IBERIABANK CORP	$619,000	–	8,172	–	0.13%	–
BB	New	BLACKBERRY LTD	$606,000	–	62,815	–	0.13%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$585,000	–	5,250	–	0.13%	–
SYNA	New	SYNAPTICS INC	$563,000	–	11,170	–	0.12%	–
DVN	New	DEVON ENERGY CORP NEW	$521,000	–	11,860	–	0.11%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$499,000	–	6,875	–	0.11%	–
TXN	New	TEXAS INSTRS INC	$474,000	–	4,295	–	0.10%	–
NOV	New	NATIONAL OILWELL VARCO INC	$477,000	–	10,985	–	0.10%	–
T	New	AT&T INC	$463,000	–	14,434	–	0.10%	–
PM	New	PHILIP MORRIS INTL INC	$452,000	–	5,593	–	0.10%	–
ITW	New	ILLINOIS TOOL WKS INC	$437,000	–	3,153	–	0.10%	–
BPT	New	BP PRUDHOE BAY RTY TRunit ben int	$431,000	–	14,425	–	0.09%	–
MCD	New	MCDONALDS CORP	$388,000	–	2,475	–	0.08%	–
INTC	New	INTEL CORP	$373,000	–	7,500	–	0.08%	–
MO	New	ALTRIA GROUP INC	$325,000	–	5,717	–	0.07%	–
FDX	New	FEDEX CORP	$308,000	–	1,358	–	0.07%	–
MU	New	MICRON TECHNOLOGY INC	$308,000	–	5,880	–	0.07%	–
MSFT	New	MICROSOFT CORP	$282,000	–	2,862	–	0.06%	–
BKR	New	BAKER HUGHES A GE COcl a	$253,000	–	7,650	–	0.06%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$256,000	–	9,240	–	0.06%	–
MDLZ	New	MONDELEZ INTL INCcl a	$245,000	–	5,980	–	0.05%	–
DWDP	New	DOWDUPONT INC	$242,000	–	3,671	–	0.05%	–
CSX	New	CSX CORP	$233,000	–	3,650	–	0.05%	–
STOR	New	STORE CAP CORP	$230,000	–	8,400	–	0.05%	–
DWM	New	WISDOMTREE TRintl equity fd	$228,000	–	4,319	–	0.05%	–
AXP	New	AMERICAN EXPRESS CO	$223,000	–	2,275	–	0.05%	–
BIIB	New	BIOGEN INC	$218,000	–	750	–	0.05%	–
KMI	New	KINDER MORGAN INC DEL	$207,000	–	11,694	–	0.04%	–
NAO	New	NORDIC AMERN OFFSHORE LTD	$18,000	–	15,551	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
NAO	Exit	NORDIC AMERN OFFSHORE LTD	$0	–	-17,618	–	-0.01%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-2,275	–	-0.05%	–
CSX	Exit	CSX CORP	$0	–	-3,975	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-5,830	–	-0.05%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-4,319	–	-0.05%	–
AGN	Exit	ALLERGAN PLC	$0	–	-1,150	–	-0.05%	–
STOR	Exit	STORE CAP CORP	$0	–	-9,400	–	-0.05%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,240	–	-0.06%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-3,929	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-7,369	–	-0.06%	–
BPT	Exit	BP PRUDHOE BAY RTY TRunit ben int	$0	–	-14,475	–	-0.07%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-2,950	–	-0.08%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-5,357	–	-0.08%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-3,193	–	-0.08%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,379	–	-0.09%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,525	–	-0.09%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-3,375	–	-0.09%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-11,330	–	-0.09%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-6,875	–	-0.10%	–
WPP	Exit	WPP PLC NEWadr	$0	–	-4,625	–	-0.10%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-5,709	–	-0.10%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-12,080	–	-0.11%	–
SYNA	Exit	SYNAPTICS INC	$0	–	-12,245	–	-0.11%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-19,800	–	-0.11%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-3,403	–	-0.12%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-27,860	–	-0.12%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-7,018	–	-0.12%	–
T	Exit	AT&T INC	$0	–	-14,114	–	-0.13%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-5,275	–	-0.14%	–
AAPL	Exit	APPLE INC	$0	–	-4,801	–	-0.17%	–
BB	Exit	BLACKBERRY LTD	$0	–	-67,555	–	-0.17%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-9,614	–	-0.20%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-72,335	–	-0.24%	–
GHL	Exit	GREENHILL & CO INC	$0	–	-62,925	–	-0.24%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-8,225	–	-0.27%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-12,536	–	-0.27%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-10,249	–	-0.28%	–
MTB	Exit	M & T BK CORP	$0	–	-7,550	–	-0.28%	–
AMBA	Exit	AMBARELLA INC	$0	–	-26,545	–	-0.30%	–
BIIB	Exit	BIOGEN INC	$0	–	-4,590	–	-0.33%	–
APA	Exit	APACHE CORP	$0	–	-32,335	–	-0.34%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-346,630	–	-0.34%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-50,320	–	-0.40%	–
LOW	Exit	LOWES COS INC	$0	–	-23,254	–	-0.43%	–
PFE	Exit	PFIZER INC	$0	–	-56,948	–	-0.47%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-84,595	–	-0.47%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-25,777	–	-0.48%	–
CSCO	Exit	CISCO SYS INC	$0	–	-66,055	–	-0.51%	–
LLY	Exit	LILLY ELI & CO	$0	–	-27,015	–	-0.53%	–
ABT	Exit	ABBOTT LABS	$0	–	-46,681	–	-0.57%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-41,080	–	-0.57%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-204,475	–	-0.59%	–
AMGN	Exit	AMGEN INC	$0	–	-14,057	–	-0.60%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-517,525	–	-0.63%	–
PEP	Exit	PEPSICO INC	$0	–	-27,747	–	-0.71%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$0	–	-229,865	–	-0.93%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-111,410	–	-1.04%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-214,215	–	-1.15%	–
HP	Exit	HELMERICH & PAYNE INC	$0	–	-99,995	–	-1.19%	–
USB	Exit	US BANCORP DEL	$0	–	-98,515	–	-1.21%	–
HD	Exit	HOME DEPOT INC	$0	–	-33,084	–	-1.24%	–
PSX	Exit	PHILLIPS 66	$0	–	-66,520	–	-1.40%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-123,970	–	-1.42%	–
KO	Exit	COCA COLA CO	$0	–	-173,615	–	-1.79%	–
QCOM	Exit	QUALCOMM INC	$0	–	-155,350	–	-1.84%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-168,750	–	-2.13%	–
BAC	Exit	BANK AMER CORP	$0	–	-407,045	–	-2.36%	–
MRK	Exit	MERCK & CO INC	$0	–	-251,710	–	-3.69%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-127,512	–	-3.80%	–
BP	Exit	BP PLCsponsored adr	$0	–	-471,975	–	-4.15%	–
COH	Exit	COACH INC	$0	–	-639,905	–	-5.90%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-194,934	–	-6.48%	–
USG	Exit	U S G CORP	$0	–	-898,910	–	-6.72%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-401,775	–	-7.54%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-743,586	–	-31.21%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$136,314,000	+6.7%	743,586	-1.4%	31.21%	+5.9%
XOM	Buy	EXXON MOBIL CORP	$32,938,000	+2.1%	401,775	+0.5%	7.54%	+1.3%
USG	Sell	U S G CORP	$29,349,000	+10.3%	898,910	-2.0%	6.72%	+9.5%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$28,281,000	-3.0%	194,934	+2.8%	6.48%	-3.7%
COH	Sell	COACH INC	$25,775,000	-21.1%	639,905	-7.2%	5.90%	-21.6%
BP	Buy	BP PLCsponsored adr	$18,138,000	+10.9%	471,975	+0.0%	4.15%	+10.2%
JNJ	Sell	JOHNSON & JOHNSON	$16,578,000	-3.4%	127,512	-1.7%	3.80%	-4.1%
MRK	Sell	MERCK & CO INC	$16,117,000	-7.1%	251,710	-7.0%	3.69%	-7.8%
BAC	Sell	BANK AMER CORP	$10,315,000	+3.0%	407,045	-1.3%	2.36%	+2.3%
WFC	Sell	WELLS FARGO CO NEW	$9,307,000	-23.4%	168,750	-23.0%	2.13%	-23.9%
QCOM	Buy	QUALCOMM INC	$8,053,000	+13.4%	155,350	+20.7%	1.84%	+12.6%
KO	Sell	COCA COLA CO	$7,814,000	-2.0%	173,615	-2.4%	1.79%	-2.7%
COP	Sell	CONOCOPHILLIPS	$6,205,000	+13.1%	123,970	-0.7%	1.42%	+12.3%
PSX	Sell	PHILLIPS 66	$6,094,000	+2.7%	66,520	-7.3%	1.40%	+1.9%
HD	Sell	HOME DEPOT INC	$5,411,000	+5.7%	33,084	-0.9%	1.24%	+4.9%
USB	Sell	US BANCORP DEL	$5,279,000	+0.2%	98,515	-2.9%	1.21%	-0.5%
HP	Buy	HELMERICH & PAYNE INC	$5,211,000	+92.3%	99,995	+100.5%	1.19%	+90.9%
BBBY	Buy	BED BATH & BEYOND INC	$5,028,000	+56.8%	214,215	+103.1%	1.15%	+55.5%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$4,523,000	-7.6%	111,410	-1.9%	1.04%	-8.2%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$4,046,000	-58.6%	229,865	-21.9%	0.93%	-59.0%
PEP	Sell	PEPSICO INC	$3,092,000	-3.7%	27,747	-0.2%	0.71%	-4.3%
NAT	Buy	NORDIC AMERICAN TANKERS LIMI	$2,764,000	+9.5%	517,525	+30.0%	0.63%	+8.8%
AMGN	Buy	AMGEN INC	$2,621,000	+8.5%	14,057	+0.2%	0.60%	+7.7%
CEF	Sell	CENTRAL FD CDA LTDcl a	$2,591,000	-5.7%	204,475	-8.2%	0.59%	-6.5%
RDSA	Sell	ROYAL DUTCH SHELL PLCspons adr a	$2,489,000	-3.3%	41,080	-14.9%	0.57%	-4.0%
ABT	Sell	ABBOTT LABS	$2,491,000	+9.7%	46,681	-0.1%	0.57%	+8.8%
LLY	Sell	LILLY ELI & CO	$2,311,000	+3.9%	27,015	-0.1%	0.53%	+3.1%
CSCO	Sell	CISCO SYS INC	$2,221,000	+7.1%	66,055	-0.3%	0.51%	+6.5%
GILD	Sell	GILEAD SCIENCES INC	$2,088,000	+11.5%	25,777	-2.5%	0.48%	+10.6%
GE	Buy	GENERAL ELECTRIC CO	$2,046,000	+27.2%	84,595	+42.1%	0.47%	+26.1%
PFE	Sell	PFIZER INC	$2,033,000	+4.8%	56,948	-1.4%	0.47%	+4.3%
LOW	Sell	LOWES COS INC	$1,859,000	+2.3%	23,254	-0.8%	0.43%	+1.7%
SU	Sell	SUNCOR ENERGY INC NEW	$1,763,000	+11.4%	50,320	-7.2%	0.40%	+10.7%
CHK	Buy	CHESAPEAKE ENERGY CORP	$1,491,000	-5.6%	346,630	+9.1%	0.34%	-6.3%
APA	New	APACHE CORP	$1,481,000	–	32,335	–	0.34%	–
BIIB	Sell	BIOGEN INC	$1,437,000	+12.9%	4,590	-2.1%	0.33%	+11.9%
AMBA	Buy	AMBARELLA INC	$1,301,000	+19.0%	26,545	+17.9%	0.30%	+18.3%
MTB	Sell	M & T BK CORP	$1,216,000	-2.8%	7,550	-2.3%	0.28%	-3.8%
CVX	Buy	CHEVRON CORP NEW	$1,204,000	+13.4%	10,249	+0.7%	0.28%	+12.7%
JPM	Sell	JPMORGAN CHASE & CO	$1,197,000	+4.1%	12,536	-0.4%	0.27%	+3.4%
GHL	Buy	GREENHILL & CO INC	$1,045,000	+54.8%	62,925	+87.4%	0.24%	+53.2%
VIVO	Buy	MERIDIAN BIOSCIENCE INC	$1,034,000	+7.3%	72,335	+18.2%	0.24%	+6.8%
PG	Sell	PROCTER AND GAMBLE CO	$875,000	+4.3%	9,614	-0.2%	0.20%	+3.1%
BB	Sell	BLACKBERRY LTD	$755,000	+11.7%	67,555	-0.2%	0.17%	+10.9%
AAPL	Buy	APPLE INC	$740,000	+28.5%	4,801	+20.0%	0.17%	+27.1%
T	Sell	AT&T INC	$553,000	-2.0%	14,114	-5.6%	0.13%	-2.3%
KMI	Sell	KINDER MORGAN INC DEL	$534,000	-6.2%	27,860	-6.1%	0.12%	-6.9%
ITW	Buy	ILLINOIS TOOL WKS INC	$504,000	+5.0%	3,403	+1.6%	0.12%	+3.6%
ABB	Buy	ABB LTDsponsored adr	$490,000	+0.8%	19,800	+1.5%	0.11%	0.0%
SYNA	New	SYNAPTICS INC	$480,000	–	12,245	–	0.11%	–
MU	Sell	MICRON TECHNOLOGY INC	$475,000	-9.4%	12,080	-31.2%	0.11%	-9.9%
WMT	Sell	WAL-MART STORES INC	$446,000	-40.7%	5,709	-42.5%	0.10%	-41.0%
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$430,000	–	6,875	–	0.10%	–
WPP	New	WPP PLC NEWadr	$429,000	–	4,625	–	0.10%	–
NOV	Sell	NATIONAL OILWELL VARCO INC	$405,000	-60.2%	11,330	-63.3%	0.09%	-60.4%
UTHR	Buy	UNITED THERAPEUTICS CORP DEL	$396,000	+2.6%	3,375	+13.4%	0.09%	+2.2%
MCD	Sell	MCDONALDS CORP	$396,000	+1.3%	2,525	-1.0%	0.09%	+1.1%
TXN	Buy	TEXAS INSTRS INC	$393,000	+19.1%	4,379	+2.2%	0.09%	+18.4%
NXPI	Sell	NXP SEMICONDUCTORS N V	$334,000	-38.4%	2,950	-40.4%	0.08%	-39.2%
BPT	Buy	BP PRUDHOE BAY RTY TRunit ben int	$325,000	+7.6%	14,475	+3.6%	0.07%	+5.7%
INTC	Buy	INTEL CORP	$281,000	+28.9%	7,369	+13.8%	0.06%	+28.0%
DWDP	New	DOWDUPONT INC	$272,000	–	3,929	–	0.06%	–
STOR	New	STORE CAP CORP	$234,000	–	9,400	–	0.05%	–
DWM	New	WISDOMTREE TRintl equity fd	$235,000	–	4,319	–	0.05%	–
AGN	New	ALLERGAN PLC	$236,000	–	1,150	–	0.05%	–
CSX	Sell	CSX CORP	$216,000	-52.6%	3,975	-52.4%	0.05%	-53.3%
AXP	New	AMERICAN EXPRESS CO	$206,000	–	2,275	–	0.05%	–
NAO	New	NORDIC AMERN OFFSHORE LTD	$25,000	–	17,618	–	0.01%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-2,495	–	-0.06%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-8,525	–	-0.07%	–
CXO	Exit	CONCHO RES INC	$0	–	-2,700	–	-0.08%	–
SO	Exit	SOUTHERN CO	$0	–	-6,862	–	-0.08%	–
DOV	Exit	DOVER CORP	$0	–	-4,280	–	-0.08%	–
PAA	Exit	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$0	–	-19,550	–	-0.12%	–
IBKC	Exit	IBERIABANK CORP	$0	–	-9,172	–	-0.17%	–
SBR	Exit	SABINE ROYALTY TRunit ben int	$0	–	-28,916	–	-0.26%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$127,764,000	–	754,348	–	29.47%	–
COH	New	COACH INC	$32,651,000	–	689,715	–	7.53%	–
XOM	New	EXXON MOBIL CORP	$32,270,000	–	399,725	–	7.44%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$29,170,000	–	189,628	–	6.73%	–
USG	New	U S G CORP	$26,619,000	–	917,275	–	6.14%	–
MRK	New	MERCK & CO INC	$17,342,000	–	270,585	–	4.00%	–
JNJ	New	JOHNSON & JOHNSON	$17,156,000	–	129,682	–	3.96%	–
BP	New	BP PLCsponsored adr	$16,348,000	–	471,815	–	3.77%	–
WFC	New	WELLS FARGO CO NEW	$12,149,000	–	219,260	–	2.80%	–
BAC	New	BANK AMER CORP	$10,010,000	–	412,595	–	2.31%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$9,783,000	–	294,495	–	2.26%	–
KO	New	COCA COLA CO	$7,975,000	–	177,825	–	1.84%	–
QCOM	New	QUALCOMM INC	$7,104,000	–	128,655	–	1.64%	–
PSX	New	PHILLIPS 66	$5,936,000	–	71,785	–	1.37%	–
COP	New	CONOCOPHILLIPS	$5,486,000	–	124,785	–	1.26%	–
USB	New	US BANCORP DEL	$5,266,000	–	101,417	–	1.22%	–
HD	New	HOME DEPOT INC	$5,121,000	–	33,384	–	1.18%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$4,897,000	–	113,565	–	1.13%	–
BBBY	New	BED BATH & BEYOND INC	$3,207,000	–	105,485	–	0.74%	–
PEP	New	PEPSICO INC	$3,210,000	–	27,795	–	0.74%	–
CEF	New	CENTRAL FD CDA LTDcl a	$2,747,000	–	222,800	–	0.63%	–
HP	New	HELMERICH & PAYNE INC	$2,710,000	–	49,865	–	0.62%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$2,575,000	–	48,255	–	0.59%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$2,524,000	–	398,075	–	0.58%	–
AMGN	New	AMGEN INC	$2,416,000	–	14,030	–	0.56%	–
ABT	New	ABBOTT LABS	$2,271,000	–	46,715	–	0.52%	–
LLY	New	LILLY ELI & CO	$2,225,000	–	27,040	–	0.51%	–
CSCO	New	CISCO SYS INC	$2,074,000	–	66,275	–	0.48%	–
PFE	New	PFIZER INC	$1,940,000	–	57,748	–	0.45%	–
GILD	New	GILEAD SCIENCES INC	$1,872,000	–	26,447	–	0.43%	–
LOW	New	LOWES COS INC	$1,817,000	–	23,435	–	0.42%	–
GE	New	GENERAL ELECTRIC CO	$1,608,000	–	59,545	–	0.37%	–
SU	New	SUNCOR ENERGY INC NEW	$1,583,000	–	54,220	–	0.36%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,579,000	–	317,625	–	0.36%	–
BIIB	New	BIOGEN INC	$1,273,000	–	4,690	–	0.29%	–
MTB	New	M & T BK CORP	$1,251,000	–	7,725	–	0.29%	–
JPM	New	JPMORGAN CHASE & CO	$1,150,000	–	12,581	–	0.26%	–
SBR	New	SABINE ROYALTY TRunit ben int	$1,120,000	–	28,916	–	0.26%	–
HON	New	HONEYWELL INTL INC	$1,096,000	–	8,225	–	0.25%	–
AMBA	New	AMBARELLA INC	$1,093,000	–	22,515	–	0.25%	–
CVX	New	CHEVRON CORP NEW	$1,062,000	–	10,175	–	0.24%	–
NOV	New	NATIONAL OILWELL VARCO INC	$1,018,000	–	30,890	–	0.24%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$964,000	–	61,185	–	0.22%	–
PG	New	PROCTER AND GAMBLE CO	$839,000	–	9,629	–	0.19%	–
WMT	New	WAL-MART STORES INC	$752,000	–	9,930	–	0.17%	–
IBKC	New	IBERIABANK CORP	$748,000	–	9,172	–	0.17%	–
GHL	New	GREENHILL & CO INC	$675,000	–	33,575	–	0.16%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$677,000	–	5,275	–	0.16%	–
BB	New	BLACKBERRY LTD	$676,000	–	67,695	–	0.16%	–
KHC	New	KRAFT HEINZ CO	$601,000	–	7,018	–	0.14%	–
AAPL	New	APPLE INC	$576,000	–	4,001	–	0.13%	–
KMI	New	KINDER MORGAN INC DEL	$569,000	–	29,680	–	0.13%	–
T	New	AT&T INC	$564,000	–	14,958	–	0.13%	–
NXPI	New	NXP SEMICONDUCTORS N V	$542,000	–	4,950	–	0.12%	–
MU	New	MICRON TECHNOLOGY INC	$524,000	–	17,555	–	0.12%	–
PAA	New	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$514,000	–	19,550	–	0.12%	–
ABB	New	ABB LTDsponsored adr	$486,000	–	19,500	–	0.11%	–
ITW	New	ILLINOIS TOOL WKS INC	$480,000	–	3,350	–	0.11%	–
CSX	New	CSX CORP	$456,000	–	8,350	–	0.10%	–
MO	New	ALTRIA GROUP INC	$399,000	–	5,357	–	0.09%	–
MCD	New	MCDONALDS CORP	$391,000	–	2,550	–	0.09%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$386,000	–	2,975	–	0.09%	–
PM	New	PHILIP MORRIS INTL INC	$375,000	–	3,193	–	0.09%	–
DOV	New	DOVER CORP	$343,000	–	4,280	–	0.08%	–
TXN	New	TEXAS INSTRS INC	$330,000	–	4,284	–	0.08%	–
CXO	New	CONCHO RES INC	$328,000	–	2,700	–	0.08%	–
SO	New	SOUTHERN CO	$329,000	–	6,862	–	0.08%	–
GNRC	New	GENERAC HLDGS INC	$308,000	–	8,525	–	0.07%	–
BPT	New	BP PRUDHOE BAY RTY TRunit ben int	$302,000	–	13,975	–	0.07%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$256,000	–	2,495	–	0.06%	–
MDLZ	New	MONDELEZ INTL INCcl a	$252,000	–	5,830	–	0.06%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$250,000	–	9,240	–	0.06%	–
INTC	New	INTEL CORP	$218,000	–	6,475	–	0.05%	–

Q4 2016

			Value		Shares		↓ Weighting
RAD	Exit	RITE AID CORP	$0	–	-15,000	–	-0.03%	–
BPT	Exit	BP PRUDHOE BAY RTY TRunit ben int	$0	–	-10,775	–	-0.05%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-4,319	–	-0.05%	–
AMGN	Exit	AMGEN INC	$0	–	-1,348	–	-0.06%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-2,570	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-6,175	–	-0.06%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-10,825	–	-0.06%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-3,950	–	-0.06%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-5,732	–	-0.06%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,340	–	-0.06%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,623	–	-0.08%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,484	–	-0.08%	–
GHL	Exit	GREENHILL & CO INC	$0	–	-14,325	–	-0.08%	–
DOV	Exit	DOVER CORP	$0	–	-4,730	–	-0.09%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-4,470	–	-0.09%	–
AAPL	Exit	APPLE INC	$0	–	-3,251	–	-0.09%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-10,475	–	-0.10%	–
SO	Exit	SOUTHERN CO	$0	–	-7,562	–	-0.10%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,770	–	-0.10%	–
CXO	Exit	CONCHO RES INC	$0	–	-3,100	–	-0.11%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-200	–	-0.11%	–
PAA	Exit	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$0	–	-17,750	–	-0.14%	–
CSX	Exit	CSX CORP	$0	–	-19,450	–	-0.15%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-31,810	–	-0.15%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-6,911	–	-0.15%	–
T	Exit	AT&T INC	$0	–	-15,458	–	-0.16%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-5,525	–	-0.16%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-15,475	–	-0.17%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-5,325	–	-0.17%	–
BB	Exit	BLACKBERRY LTD	$0	–	-89,525	–	-0.18%	–
IBKC	Exit	IBERIABANK CORP	$0	–	-12,572	–	-0.21%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-9,790	–	-0.22%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-13,446	–	-0.22%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-9,490	–	-0.24%	–
SBR	Exit	SABINE ROYALTY TRunit ben int	$0	–	-28,927	–	-0.26%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-9,200	–	-0.27%	–
PFE	Exit	PFIZER INC	$0	–	-33,276	–	-0.28%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-18,385	–	-0.31%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-70,480	–	-0.31%	–
MTB	Exit	M & T BK CORP	$0	–	-12,675	–	-0.37%	–
SRG	Exit	SERITAGE GROWTH PPTYScl a	$0	–	-29,025	–	-0.37%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-50,630	–	-0.37%	–
AMBA	Exit	AMBARELLA INC	$0	–	-21,930	–	-0.40%	–
LOW	Exit	LOWES COS INC	$0	–	-24,395	–	-0.44%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-301,850	–	-0.47%	–
PSX	Exit	PHILLIPS 66	$0	–	-23,611	–	-0.47%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-189,500	–	-0.48%	–
ABT	Exit	ABBOTT LABS	$0	–	-46,605	–	-0.49%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-40,100	–	-0.50%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-44,560	–	-0.56%	–
LLY	Exit	LILLY ELI & CO	$0	–	-28,440	–	-0.57%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-55,360	–	-0.60%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-94,045	–	-0.65%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-77,880	–	-0.71%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-41,015	–	-0.74%	–
LNKD	Exit	LINKEDIN CORP	$0	–	-16,155	–	-0.77%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-229,125	–	-0.79%	–
PEP	Exit	PEPSICO INC	$0	–	-30,920	–	-0.84%	–
CSCO	Exit	CISCO SYS INC	$0	–	-122,385	–	-0.97%	–
HD	Exit	HOME DEPOT INC	$0	–	-35,799	–	-1.15%	–
JOY	Exit	JOY GLOBAL INC	$0	–	-216,850	–	-1.50%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-153,465	–	-1.66%	–
BAC	Exit	BANK AMER CORP	$0	–	-453,370	–	-1.77%	–
USB	Exit	US BANCORP DEL	$0	–	-228,485	–	-2.44%	–
KO	Exit	COCA COLA CO	$0	–	-253,115	–	-2.67%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-313,489	–	-3.46%	–
BP	Exit	BP PLCsponsored adr	$0	–	-449,065	–	-3.94%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-133,867	–	-3.94%	–
MRK	Exit	MERCK & CO INC	$0	–	-289,646	–	-4.51%	–
USG	Exit	U S G CORP	$0	–	-947,840	–	-6.11%	–
COH	Exit	COACH INC	$0	–	-739,250	–	-6.74%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-186,990	–	-7.41%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-390,125	–	-8.49%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-757,913	–	-27.31%	–

Q3 2016

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$109,496,000	-0.9%	757,913	-0.7%	27.31%	-0.6%
XOM	Sell	EXXON MOBIL CORP	$34,050,000	-9.8%	390,125	-3.1%	8.49%	-9.5%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$29,703,000	+5.0%	186,990	+0.3%	7.41%	+5.3%
COH	Buy	COACH INC	$27,027,000	-10.0%	739,250	+0.3%	6.74%	-9.7%
USG	Buy	U S G CORP	$24,502,000	-3.6%	947,840	+0.6%	6.11%	-3.3%
MRK	Sell	MERCK & CO INC	$18,077,000	+4.5%	289,646	-3.6%	4.51%	+4.8%
JNJ	Sell	JOHNSON & JOHNSON	$15,814,000	-9.7%	133,867	-7.3%	3.94%	-9.4%
BP	Buy	BP PLCsponsored adr	$15,789,000	+1.7%	449,065	+2.7%	3.94%	+2.0%
WFC	Buy	WELLS FARGO & CO NEW	$13,881,000	+11.4%	313,489	+19.1%	3.46%	+11.8%
KO	Sell	COCA COLA CO	$10,712,000	-8.5%	253,115	-2.0%	2.67%	-8.2%
USB	Sell	US BANCORP DEL	$9,800,000	-2.2%	228,485	-8.0%	2.44%	-1.9%
BAC	Buy	BANK AMER CORP	$7,095,000	+21.4%	453,370	+2.9%	1.77%	+21.8%
COP	Sell	CONOCOPHILLIPS	$6,671,000	-3.5%	153,465	-3.2%	1.66%	-3.2%
JOY	Sell	JOY GLOBAL INC	$6,015,000	+26.4%	216,850	-3.7%	1.50%	+26.8%
HD	Sell	HOME DEPOT INC	$4,607,000	+0.1%	35,799	-0.7%	1.15%	+0.3%
CSCO	Sell	CISCO SYS INC	$3,882,000	+7.0%	122,385	-3.2%	0.97%	+7.3%
PEP	Sell	PEPSICO INC	$3,363,000	-2.8%	30,920	-5.4%	0.84%	-2.4%
CEF	Sell	CENTRAL FD CDA LTDcl a	$3,169,000	-1.9%	229,125	-1.4%	0.79%	-1.6%
LNKD	Buy	LINKEDIN CORP	$3,088,000	+80.3%	16,155	+78.5%	0.77%	+80.8%
WMT	Sell	WAL-MART STORES INC	$2,958,000	-10.4%	41,015	-9.3%	0.74%	-10.1%
NOV	Buy	NATIONAL OILWELL VARCO INC	$2,861,000	+26.6%	77,880	+16.0%	0.71%	+27.0%
SU	Sell	SUNCOR ENERGY INC NEW	$2,613,000	-3.1%	94,045	-3.3%	0.65%	-2.8%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$2,388,000	+0.5%	55,360	+1.0%	0.60%	+1.0%
LLY	Sell	LILLY ELI & CO	$2,283,000	-2.7%	28,440	-4.5%	0.57%	-2.4%
RDSA	Sell	ROYAL DUTCH SHELL PLCspons adr a	$2,231,000	-10.1%	44,560	-0.9%	0.56%	-9.9%
BHI	Sell	BAKER HUGHES INC	$2,024,000	+3.1%	40,100	-7.8%	0.50%	+3.5%
NAT	Sell	NORDIC AMERICAN TANKERS LIMI	$1,916,000	-53.2%	189,500	-35.6%	0.48%	-53.0%
PSX	New	PHILLIPS 66	$1,902,000	–	23,611	–	0.47%	–
CHK	Sell	CHESAPEAKE ENERGY CORP	$1,893,000	+42.5%	301,850	-2.7%	0.47%	+43.0%
LOW	Sell	LOWES COS INC	$1,762,000	-9.3%	24,395	-0.6%	0.44%	-9.1%
AMBA	Sell	AMBARELLA INC	$1,614,000	+39.1%	21,930	-3.9%	0.40%	+39.9%
GE	Sell	GENERAL ELECTRIC CO	$1,500,000	-7.2%	50,630	-1.4%	0.37%	-7.0%
MTB	Sell	M & T BK CORP	$1,472,000	-6.2%	12,675	-4.5%	0.37%	-5.9%
SRG	Buy	SERITAGE GROWTH PPTYScl a	$1,471,000	+2.3%	29,025	+0.6%	0.37%	+2.5%
MU	Sell	MICRON TECHNOLOGY INC	$1,253,000	+26.7%	70,480	-1.9%	0.31%	+27.2%
DD	Sell	DU PONT E I DE NEMOURS & CO	$1,231,000	+0.1%	18,385	-3.2%	0.31%	+0.3%
PFE	Buy	PFIZER INC	$1,127,000	-3.1%	33,276	+0.8%	0.28%	-2.8%
CVX	Sell	CHEVRON CORP NEW	$977,000	-2.2%	9,490	-0.4%	0.24%	-1.6%
JPM	Sell	JPMORGAN CHASE & CO	$895,000	+4.1%	13,446	-2.9%	0.22%	+4.2%
PG	Sell	PROCTER AND GAMBLE CO	$879,000	+3.9%	9,790	-2.0%	0.22%	+4.3%
BB	Buy	BLACKBERRY LTD	$714,000	+23.3%	89,525	+3.7%	0.18%	+23.6%
ZBH	Sell	ZIMMER BIOMET HLDGS INC	$692,000	+3.7%	5,325	-3.9%	0.17%	+4.2%
BBBY	Sell	BED BATH & BEYOND INC	$667,000	-5.1%	15,475	-4.9%	0.17%	-5.1%
ITW	Sell	ILLINOIS TOOL WKS INC	$662,000	+13.6%	5,525	-1.3%	0.16%	+13.8%
T	Sell	AT&T INC	$628,000	-8.3%	15,458	-2.5%	0.16%	-7.6%
VIVO	Buy	MERIDIAN BIOSCIENCE INC	$614,000	+47.6%	31,810	+49.1%	0.15%	+48.5%
CSX	Sell	CSX CORP	$593,000	+6.1%	19,450	-9.3%	0.15%	+6.5%
PAA	Buy	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$558,000	+21.3%	17,750	+6.0%	0.14%	+21.9%
CXO	Sell	CONCHO RES INC	$426,000	-0.7%	3,100	-13.9%	0.11%	-0.9%
GNRC	Sell	GENERAC HLDGS INC	$380,000	+0.8%	10,475	-2.8%	0.10%	+1.1%
AAPL	Buy	APPLE INC	$368,000	+39.9%	3,251	+18.2%	0.09%	+41.5%
GILD	Buy	GILEAD SCIENCES INC	$354,000	+53.2%	4,470	+61.4%	0.09%	+54.4%
DOV	Sell	DOVER CORP	$348,000	-0.3%	4,730	-6.0%	0.09%	0.0%
GHL	New	GREENHILL & CO INC	$338,000	–	14,325	–	0.08%	–
TXN	Sell	TEXAS INSTRS INC	$315,000	+9.8%	4,484	-2.2%	0.08%	+11.3%
MCD	Buy	MCDONALDS CORP	$303,000	-2.3%	2,623	+1.9%	0.08%	-1.3%
MO	Sell	ALTRIA GROUP INC	$250,000	-13.8%	3,950	-6.0%	0.06%	-13.9%
ABB	New	ABB LTDsponsored adr	$244,000	–	10,825	–	0.06%	–
AMGN	New	AMGEN INC	$225,000	–	1,348	–	0.06%	–
DWM	New	WISDOMTREE TRintl equity fd	$203,000	–	4,319	–	0.05%	–
RAD	New	RITE AID CORP	$115,000	–	15,000	–	0.03%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-2,000	–	-0.05%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$110,462,000	–	762,911	–	27.46%	–
XOM	New	EXXON MOBIL CORP	$37,754,000	–	402,751	–	9.39%	–
COH	New	COACH INC	$30,027,000	–	737,030	–	7.46%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$28,288,000	–	186,375	–	7.03%	–
USG	New	U S G CORP	$25,406,000	–	942,350	–	6.32%	–
JNJ	New	JOHNSON & JOHNSON	$17,513,000	–	144,377	–	4.35%	–
MRK	New	MERCK & CO INC	$17,303,000	–	300,351	–	4.30%	–
BP	New	BP PLCsponsored adr	$15,520,000	–	437,065	–	3.86%	–
WFC	New	WELLS FARGO & CO NEW	$12,455,000	–	263,144	–	3.10%	–
KO	New	COCA COLA CO	$11,712,000	–	258,375	–	2.91%	–
USB	New	US BANCORP DEL	$10,021,000	–	248,475	–	2.49%	–
COP	New	CONOCOPHILLIPS	$6,916,000	–	158,615	–	1.72%	–
BAC	New	BANK AMER CORP	$5,845,000	–	440,468	–	1.45%	–
JOY	New	JOY GLOBAL INC	$4,758,000	–	225,075	–	1.18%	–
HD	New	HOME DEPOT INC	$4,604,000	–	36,059	–	1.14%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$4,090,000	–	294,475	–	1.02%	–
CSCO	New	CISCO SYS INC	$3,627,000	–	126,415	–	0.90%	–
PEP	New	PEPSICO INC	$3,461,000	–	32,670	–	0.86%	–
WMT	New	WAL-MART STORES INC	$3,301,000	–	45,200	–	0.82%	–
CEF	New	CENTRAL FD CDA LTDcl a	$3,230,000	–	232,400	–	0.80%	–
SU	New	SUNCOR ENERGY INC NEW	$2,697,000	–	97,245	–	0.67%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$2,483,000	–	44,960	–	0.62%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$2,375,000	–	54,810	–	0.59%	–
LLY	New	LILLY ELI & CO	$2,346,000	–	29,790	–	0.58%	–
NOV	New	NATIONAL OILWELL VARCO INC	$2,259,000	–	67,130	–	0.56%	–
BHI	New	BAKER HUGHES INC	$1,963,000	–	43,500	–	0.49%	–
LOW	New	LOWES COS INC	$1,943,000	–	24,545	–	0.48%	–
ABT	New	ABBOTT LABS	$1,832,000	–	46,605	–	0.46%	–
LNKD	New	LINKEDIN CORP	$1,713,000	–	9,050	–	0.43%	–
GE	New	GENERAL ELECTRIC CO	$1,616,000	–	51,330	–	0.40%	–
MTB	New	M & T BK CORP	$1,570,000	–	13,275	–	0.39%	–
SRG	New	SERITAGE GROWTH PPTYScl a	$1,438,000	–	28,850	–	0.36%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,328,000	–	310,275	–	0.33%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,230,000	–	18,985	–	0.31%	–
PFE	New	PFIZER INC	$1,163,000	–	33,026	–	0.29%	–
AMBA	New	AMBARELLA INC	$1,160,000	–	22,830	–	0.29%	–
HON	New	HONEYWELL INTL INC	$1,070,000	–	9,200	–	0.27%	–
CVX	New	CHEVRON CORP NEW	$999,000	–	9,525	–	0.25%	–
MU	New	MICRON TECHNOLOGY INC	$989,000	–	71,880	–	0.25%	–
SBR	New	SABINE ROYALTY TRunit ben int	$966,000	–	28,927	–	0.24%	–
JPM	New	JPMORGAN CHASE & CO	$860,000	–	13,846	–	0.21%	–
PG	New	PROCTER & GAMBLE CO	$846,000	–	9,990	–	0.21%	–
IBKC	New	IBERIABANK CORP	$751,000	–	12,572	–	0.19%	–
BBBY	New	BED BATH & BEYOND INC	$703,000	–	16,275	–	0.18%	–
T	New	AT&T INC	$685,000	–	15,858	–	0.17%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$667,000	–	5,540	–	0.17%	–
KHC	New	KRAFT HEINZ CO	$611,000	–	6,911	–	0.15%	–
ITW	New	ILLINOIS TOOL WKS INC	$583,000	–	5,600	–	0.14%	–
BB	New	BLACKBERRY LTD	$579,000	–	86,300	–	0.14%	–
CSX	New	CSX CORP	$559,000	–	21,450	–	0.14%	–
PAA	New	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$460,000	–	16,750	–	0.11%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$434,000	–	200	–	0.11%	–
CXO	New	CONCHO RES INC	$429,000	–	3,600	–	0.11%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$416,000	–	21,335	–	0.10%	–
SO	New	SOUTHERN CO	$406,000	–	7,562	–	0.10%	–
GNRC	New	GENERAC HLDGS INC	$377,000	–	10,775	–	0.09%	–
DOV	New	DOVER CORP	$349,000	–	5,030	–	0.09%	–
MCD	New	MCDONALDS CORP	$310,000	–	2,575	–	0.08%	–
QCOM	New	QUALCOMM INC	$309,000	–	5,770	–	0.08%	–
MO	New	ALTRIA GROUP INC	$290,000	–	4,200	–	0.07%	–
TXN	New	TEXAS INSTRS INC	$287,000	–	4,584	–	0.07%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$273,000	–	9,340	–	0.07%	–
MDLZ	New	MONDELEZ INTL INCcl a	$261,000	–	5,732	–	0.06%	–
AAPL	New	APPLE INC	$263,000	–	2,751	–	0.06%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$236,000	–	2,570	–	0.06%	–
GILD	New	GILEAD SCIENCES INC	$231,000	–	2,770	–	0.06%	–
INTC	New	INTEL CORP	$203,000	–	6,175	–	0.05%	–
PM	New	PHILIP MORRIS INTL INC	$203,000	–	2,000	–	0.05%	–
BPT	New	BP PRUDHOE BAY RTY TRunit ben int	$199,000	–	10,775	–	0.05%	–

Q4 2015

			Value		Shares		↓ Weighting
ORMP	Exit	ORAMED PHARM INC	$0	–	-22,800	–	-0.04%	–
HK	Exit	HALCON RES CORP	$0	–	-297,550	–	-0.04%	–
LPX	Exit	LOUISIANA PAC CORP	$0	–	-13,475	–	-0.05%	–
SO	Exit	SOUTHERN CO	$0	–	-4,600	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-7,125	–	-0.06%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-4,700	–	-0.06%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,584	–	-0.06%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,240	–	-0.06%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-2,870	–	-0.06%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,575	–	-0.07%	–
TTE	Exit	TOTAL S Asponsored adr	$0	–	-5,750	–	-0.07%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-3,650	–	-0.08%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-4,865	–	-0.08%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-5,050	–	-0.08%	–
PAA	Exit	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$0	–	-12,550	–	-0.11%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-9,332	–	-0.11%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-200	–	-0.11%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-6,025	–	-0.14%	–
T	Exit	AT&T INC	$0	–	-15,858	–	-0.14%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-10,700	–	-0.15%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-20,100	–	-0.15%	–
IMO	Exit	IMPERIAL OIL LTD	$0	–	-19,820	–	-0.17%	–
IBKC	Exit	IBERIABANK CORP	$0	–	-10,972	–	-0.18%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-10,050	–	-0.22%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-11,540	–	-0.23%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-14,396	–	-0.24%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-10,075	–	-0.26%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-16,975	–	-0.27%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-20,435	–	-0.27%	–
PFE	Exit	PFIZER INC	$0	–	-33,001	–	-0.29%	–
CSX	Exit	CSX CORP	$0	–	-44,775	–	-0.33%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-60,430	–	-0.42%	–
ABT	Exit	ABBOTT LABS	$0	–	-38,705	–	-0.43%	–
MTB	Exit	M & T BK CORP	$0	–	-14,200	–	-0.48%	–
LOW	Exit	LOWES COS INC	$0	–	-27,605	–	-0.53%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-76,030	–	-0.56%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-40,110	–	-0.72%	–
LLY	Exit	LILLY ELI & CO	$0	–	-33,765	–	-0.78%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-299,800	–	-0.88%	–
PEP	Exit	PEPSICO INC	$0	–	-35,570	–	-0.93%	–
CSCO	Exit	CISCO SYS INC	$0	–	-139,215	–	-1.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-41,962	–	-1.34%	–
BAC	Exit	BANK AMER CORP	$0	–	-321,278	–	-1.39%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-329,975	–	-1.39%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-133,090	–	-1.77%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-1,253,710	–	-2.55%	–
USB	Exit	US BANCORP DEL	$0	–	-295,685	–	-3.36%	–
BP	Exit	BP PLCsponsored adr	$0	–	-410,967	–	-3.48%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-252,019	–	-3.59%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-307,363	–	-4.21%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-169,357	–	-4.39%	–
KO	Exit	COCA COLA CO	$0	–	-424,270	–	-4.72%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-150,367	–	-6.05%	–
COH	Exit	COACH INC	$0	–	-850,215	–	-6.82%	–
USG	Exit	U S G CORP	$0	–	-962,185	–	-7.10%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-436,936	–	-9.01%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-768,586	–	-27.80%	–

Q3 2015

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$100,224,000	-4.4%	768,586	-0.2%	27.80%	+4.7%
XOM	Sell	EXXON MOBIL CORP	$32,486,000	-11.1%	436,936	-0.5%	9.01%	-2.6%
USG	Sell	U S G CORP	$25,613,000	-6.7%	962,185	-2.6%	7.10%	+2.2%
COH	Buy	COACH INC	$24,597,000	-14.5%	850,215	+2.2%	6.82%	-6.4%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$21,799,000	-5.2%	150,367	+6.4%	6.05%	+3.8%
KO	Sell	COCA COLA CO	$17,022,000	+1.0%	424,270	-1.3%	4.72%	+10.6%
JNJ	Sell	JOHNSON & JOHNSON	$15,809,000	-6.2%	169,357	-2.0%	4.39%	+2.7%
MRK	Sell	MERCK & CO INC NEW	$15,181,000	-14.9%	307,363	-2.0%	4.21%	-6.9%
WFC	Sell	WELLS FARGO & CO NEW	$12,941,000	-13.4%	252,019	-5.2%	3.59%	-5.2%
BP	Buy	BP PLCsponsored adr	$12,559,000	-15.2%	410,967	+10.9%	3.48%	-7.1%
USB	Sell	US BANCORP DEL	$12,126,000	-8.7%	295,685	-3.4%	3.36%	-0.0%
CHK	Buy	CHESAPEAKE ENERGY CORP	$9,190,000	-12.5%	1,253,710	+33.4%	2.55%	-4.2%
COP	Buy	CONOCOPHILLIPS	$6,383,000	-21.3%	133,090	+0.7%	1.77%	-13.9%
NAT	Sell	NORDIC AMERICAN TANKERS LIMI	$5,016,000	+5.1%	329,975	-1.6%	1.39%	+15.1%
BAC	Sell	BANK AMER CORP	$5,006,000	-9.6%	321,278	-1.3%	1.39%	-1.0%
HD	Sell	HOME DEPOT INC	$4,846,000	-2.2%	41,962	-5.9%	1.34%	+7.1%
CSCO	Sell	CISCO SYS INC	$3,654,000	-18.4%	139,215	-14.7%	1.01%	-10.7%
PEP	Sell	PEPSICO INC	$3,354,000	-2.3%	35,570	-3.3%	0.93%	+7.0%
CEF	Sell	CENTRAL FD CDA LTDcl a	$3,175,000	-10.6%	299,800	-1.6%	0.88%	-2.1%
LLY	Sell	LILLY ELI & CO	$2,826,000	-1.2%	33,765	-1.5%	0.78%	+8.1%
WMT	Buy	WAL-MART STORES INC	$2,601,000	+9.6%	40,110	+19.8%	0.72%	+20.1%
SU	Buy	SUNCOR ENERGY INC NEW	$2,032,000	+9.1%	76,030	+12.3%	0.56%	+19.5%
LOW	Sell	LOWES COS INC	$1,903,000	-0.5%	27,605	-3.3%	0.53%	+9.1%
MTB	Sell	M & T BK CORP	$1,732,000	-4.7%	14,200	-2.4%	0.48%	+4.1%
ABT	Sell	ABBOTT LABS	$1,557,000	-23.8%	38,705	-7.0%	0.43%	-16.4%
GE	Sell	GENERAL ELECTRIC CO	$1,524,000	-30.5%	60,430	-26.8%	0.42%	-23.9%
CSX	Sell	CSX CORP	$1,204,000	-35.9%	44,775	-22.1%	0.33%	-29.8%
PFE	Sell	PFIZER INC	$1,037,000	-10.6%	33,001	-4.6%	0.29%	-2.0%
DD	Buy	DU PONT E I DE NEMOURS & CO	$985,000	-10.0%	20,435	+19.4%	0.27%	-1.4%
BBBY	Sell	BED BATH & BEYOND INC	$968,000	-46.9%	16,975	-35.8%	0.27%	-41.8%
HON	Sell	HONEYWELL INTL INC	$954,000	-9.0%	10,075	-1.9%	0.26%	0.0%
JPM	Sell	JPMORGAN CHASE & CO	$878,000	-11.8%	14,396	-2.0%	0.24%	-3.2%
PG	Buy	PROCTER & GAMBLE CO	$830,000	+7.5%	11,540	+16.9%	0.23%	+17.3%
CVX	Buy	CHEVRON CORP NEW	$793,000	+100.3%	10,050	+145.1%	0.22%	+120.0%
IMO	Sell	IMPERIAL OIL LTD	$627,000	-28.1%	19,820	-12.2%	0.17%	-21.3%
KMI	Sell	KINDER MORGAN INC DEL	$556,000	-36.9%	20,100	-12.4%	0.15%	-30.9%
CPB	Sell	CAMPBELL SOUP CO	$542,000	-37.0%	10,700	-40.8%	0.15%	-31.2%
T	Sell	AT&T INC	$517,000	-9.3%	15,858	-1.2%	0.14%	-0.7%
ITW	Sell	ILLINOIS TOOL WKS INC	$496,000	-18.4%	6,025	-9.1%	0.14%	-10.4%
PAA	New	PLAINS ALL AMERN PIPELINE Lunit ltd partn	$381,000	–	12,550	–	0.11%	–
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDadr	$275,000	-32.3%	4,865	-29.1%	0.08%	-26.2%
AXP	Sell	AMERICAN EXPRESS CO	$271,000	-5.2%	3,650	-0.7%	0.08%	+4.2%
TTE	Sell	TOTAL S Asponsored adr	$257,000	-17.6%	5,750	-9.4%	0.07%	-10.1%
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$231,000	-9.1%	2,870	-9.5%	0.06%	0.0%
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$223,000	–	4,700	–	0.06%	–
INTC	Sell	INTEL CORP	$215,000	-1.8%	7,125	-1.0%	0.06%	+9.1%
SO	New	SOUTHERN CO	$206,000	–	4,600	–	0.06%	–
LPX	Sell	LOUISIANA PAC CORP	$192,000	-54.5%	13,475	-45.6%	0.05%	-50.5%
HK	Sell	HALCON RES CORP	$158,000	-55.2%	297,550	-2.2%	0.04%	-50.6%
ORMP	Sell	ORAMED PHARM INC	$125,000	-51.2%	22,800	-49.4%	0.04%	-46.2%
DWM	Exit	WISDOMTREE TRdefa fd	$0	–	-4,319	–	-0.06%	–
DOW	Exit	DOW CHEM CO	$0	–	-6,400	–	-0.08%	–
KRFT	Exit	KRAFT FOODS GROUP INC	$0	–	-7,144	–	-0.15%	–

Q2 2015

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$104,822,000	–	770,130	–	26.56%	–
XOM	New	EXXON MOBIL CORP	$36,523,000	–	438,976	–	9.25%	–
COH	New	COACH INC	$28,779,000	–	831,525	–	7.29%	–
USG	New	U S G CORP	$27,447,000	–	987,675	–	6.95%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$22,987,000	–	141,317	–	5.82%	–
MRK	New	MERCK & CO INC NEW	$17,847,000	–	313,498	–	4.52%	–
KO	New	COCA COLA CO	$16,860,000	–	429,770	–	4.27%	–
JNJ	New	JOHNSON & JOHNSON	$16,850,000	–	172,892	–	4.27%	–
WFC	New	WELLS FARGO & CO NEW	$14,952,000	–	265,869	–	3.79%	–
BP	New	BP PLCsponsored adr	$14,811,000	–	370,652	–	3.75%	–
USB	New	US BANCORP DEL	$13,282,000	–	306,035	–	3.36%	–
CHK	New	CHESAPEAKE ENERGY CORP	$10,499,000	–	939,910	–	2.66%	–
COP	New	CONOCOPHILLIPS	$8,115,000	–	132,140	–	2.06%	–
BAC	New	BANK AMER CORP	$5,538,000	–	325,353	–	1.40%	–
HD	New	HOME DEPOT INC	$4,955,000	–	44,584	–	1.26%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$4,773,000	–	335,400	–	1.21%	–
CSCO	New	CISCO SYS INC	$4,479,000	–	163,115	–	1.14%	–
CEF	New	CENTRAL FD CDA LTDcl a	$3,553,000	–	304,675	–	0.90%	–
PEP	New	PEPSICO INC	$3,432,000	–	36,770	–	0.87%	–
LLY	New	LILLY ELI & CO	$2,861,000	–	34,265	–	0.72%	–
WMT	New	WAL-MART STORES INC	$2,374,000	–	33,470	–	0.60%	–
GE	New	GENERAL ELECTRIC CO	$2,194,000	–	82,580	–	0.56%	–
ABT	New	ABBOTT LABS	$2,042,000	–	41,605	–	0.52%	–
LOW	New	LOWES COS INC	$1,912,000	–	28,555	–	0.48%	–
CSX	New	CSX CORP	$1,877,000	–	57,500	–	0.48%	–
SU	New	SUNCOR ENERGY INC NEW	$1,863,000	–	67,680	–	0.47%	–
BBBY	New	BED BATH & BEYOND INC	$1,823,000	–	26,425	–	0.46%	–
MTB	New	M & T BK CORP	$1,818,000	–	14,550	–	0.46%	–
PFE	New	PFIZER INC	$1,160,000	–	34,601	–	0.29%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,094,000	–	17,110	–	0.28%	–
HON	New	HONEYWELL INTL INC	$1,048,000	–	10,275	–	0.26%	–
JPM	New	JPMORGAN CHASE & CO	$996,000	–	14,696	–	0.25%	–
KMI	New	KINDER MORGAN INC DEL	$881,000	–	22,950	–	0.22%	–
IMO	New	IMPERIAL OIL LTD	$872,000	–	22,570	–	0.22%	–
CPB	New	CAMPBELL SOUP CO	$861,000	–	18,075	–	0.22%	–
PG	New	PROCTER & GAMBLE CO	$772,000	–	9,870	–	0.20%	–
IBKC	New	IBERIABANK CORP	$749,000	–	10,972	–	0.19%	–
ITW	New	ILLINOIS TOOL WKS INC	$608,000	–	6,625	–	0.15%	–
KRFT	New	KRAFT FOODS GROUP INC	$608,000	–	7,144	–	0.15%	–
T	New	AT&T INC	$570,000	–	16,052	–	0.14%	–
LPX	New	LOUISIANA PAC CORP	$422,000	–	24,775	–	0.11%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$410,000	–	200	–	0.10%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$406,000	–	6,864	–	0.10%	–
CVX	New	CHEVRON CORP NEW	$396,000	–	4,100	–	0.10%	–
MDLZ	New	MONDELEZ INTL INCcl a	$384,000	–	9,332	–	0.10%	–
HK	New	HALCON RES CORP	$353,000	–	304,350	–	0.09%	–
DOW	New	DOW CHEM CO	$327,000	–	6,400	–	0.08%	–
TTE	New	TOTAL S Asponsored adr	$312,000	–	6,350	–	0.08%	–
AXP	New	AMERICAN EXPRESS CO	$286,000	–	3,675	–	0.07%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$276,000	–	9,240	–	0.07%	–
ORMP	New	ORAMED PHARM INC	$256,000	–	45,100	–	0.06%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$254,000	–	3,170	–	0.06%	–
MO	New	ALTRIA GROUP INC	$247,000	–	5,050	–	0.06%	–
MCD	New	MCDONALDS CORP	$245,000	–	2,575	–	0.06%	–
TXN	New	TEXAS INSTRS INC	$236,000	–	4,584	–	0.06%	–
DWM	New	WISDOMTREE TRdefa fd	$220,000	–	4,319	–	0.06%	–
INTC	New	INTEL CORP	$219,000	–	7,200	–	0.06%	–

Q4 2014

			Value		Shares		↓ Weighting
TESO	Exit	TESCO CORP	$0	–	-10,125	–	-0.02%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-3,950	–	-0.05%	–
CLX	Exit	CLOROX CO DEL	$0	–	-2,290	–	-0.05%	–
DWM	Exit	WISDOMTREE TRdefa fd	$0	–	-4,319	–	-0.05%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-4,984	–	-0.06%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,575	–	-0.06%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,200	–	-0.06%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-5,700	–	-0.06%	–
DOMR	Exit	DOMINION RES BLACK WARRIOR Tunits ben int	$0	–	-39,775	–	-0.07%	–
INTC	Exit	INTEL CORP	$0	–	-8,300	–	-0.07%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,534	–	-0.07%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-3,675	–	-0.08%	–
ORCL	Exit	ORACLE CORP	$0	–	-9,100	–	-0.08%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-10,882	–	-0.09%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,240	–	-0.09%	–
TTE	Exit	TOTAL S Asponsored adr	$0	–	-6,350	–	-0.10%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-200	–	-0.10%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-5,200	–	-0.10%	–
KRFT	Exit	KRAFT FOODS GROUP INC	$0	–	-8,343	–	-0.11%	–
DOW	Exit	DOW CHEM CO	$0	–	-10,325	–	-0.13%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-6,695	–	-0.13%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-6,625	–	-0.13%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-10,714	–	-0.14%	–
T	Exit	AT&T INC	$0	–	-16,632	–	-0.14%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-17,825	–	-0.15%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-6,940	–	-0.17%	–
ORMP	Exit	ORAMED PHARM INC	$0	–	-89,500	–	-0.17%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-4,218	–	-0.18%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-20,750	–	-0.19%	–
IBKC	Exit	IBERIABANK CORP	$0	–	-12,772	–	-0.19%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-19,775	–	-0.20%	–
LPX	Exit	LOUISIANA PAC CORP	$0	–	-66,650	–	-0.22%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-14,966	–	-0.22%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-10,870	–	-0.22%	–
PFE	Exit	PFIZER INC	$0	–	-32,251	–	-0.23%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-10,525	–	-0.23%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-19,935	–	-0.34%	–
HK	Exit	HALCON RES CORP	$0	–	-450,100	–	-0.43%	–
MTB	Exit	M & T BK CORP	$0	–	-15,100	–	-0.44%	–
LOW	Exit	LOWES COS INC	$0	–	-38,620	–	-0.49%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-27,580	–	-0.50%	–
ABT	Exit	ABBOTT LABS	$0	–	-51,430	–	-0.51%	–
LLY	Exit	LILLY ELI & CO	$0	–	-34,935	–	-0.54%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-97,286	–	-0.60%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-320,050	–	-0.61%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-115,650	–	-0.64%	–
PEP	Exit	PEPSICO INC	$0	–	-37,608	–	-0.84%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-57,975	–	-0.91%	–
BAC	Exit	BANK AMER CORP	$0	–	-263,050	–	-1.07%	–
HD	Exit	HOME DEPOT INC	$0	–	-50,133	–	-1.10%	–
CSX	Exit	CSX CORP	$0	–	-145,890	–	-1.12%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-397,625	–	-1.17%	–
CSCO	Exit	CISCO SYS INC	$0	–	-210,490	–	-1.27%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-132,365	–	-2.42%	–
BP	Exit	BP PLCsponsored adr	$0	–	-298,110	–	-3.13%	–
USB	Exit	US BANCORP DEL	$0	–	-341,645	–	-3.42%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-309,169	–	-3.83%	–
KO	Exit	COCA COLA CO	$0	–	-437,920	–	-4.46%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-184,528	–	-4.70%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-379,528	–	-5.38%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-132,298	–	-6.00%	–
USG	Exit	U S G CORP	$0	–	-982,210	–	-6.45%	–
COH	Exit	COACH INC	$0	–	-808,086	–	-6.88%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-391,106	–	-8.79%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-834,977	–	-27.56%	–

Q3 2014

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$115,344,000	+6.3%	834,977	-2.7%	27.56%	+5.2%
XOM	Buy	EXXON MOBIL CORP	$36,784,000	+2.7%	391,106	+10.0%	8.79%	+1.7%
COH	Buy	COACH INC	$28,776,000	+11.3%	808,086	+6.8%	6.88%	+10.2%
USG	Sell	U S G CORP	$27,001,000	-10.9%	982,210	-2.3%	6.45%	-11.7%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$25,114,000	+4.7%	132,298	-0.1%	6.00%	+3.7%
MRK	Sell	MERCK & CO INC NEW	$22,498,000	-8.0%	379,528	-10.2%	5.38%	-8.8%
JNJ	Sell	JOHNSON & JOHNSON	$19,669,000	-5.9%	184,528	-7.6%	4.70%	-6.8%
KO	Buy	COCA COLA CO	$18,682,000	+2.6%	437,920	+1.9%	4.46%	+1.7%
WFC	Sell	WELLS FARGO & CO NEW	$16,037,000	-4.5%	309,169	-3.2%	3.83%	-5.4%
USB	Sell	US BANCORP DEL	$14,291,000	-4.6%	341,645	-1.2%	3.42%	-5.5%
BP	Buy	BP PLCsponsored adr	$13,102,000	+6.4%	298,110	+27.7%	3.13%	+5.4%
COP	Sell	CONOCOPHILLIPS	$10,129,000	-16.8%	132,365	-6.8%	2.42%	-17.6%
CSCO	Sell	CISCO SYS INC	$5,298,000	-0.5%	210,490	-1.7%	1.27%	-1.4%
CEF	New	CENTRAL FD CDA LTDcl a	$4,895,000	–	397,625	–	1.17%	–
CSX	Sell	CSX CORP	$4,677,000	-4.3%	145,890	-8.0%	1.12%	-5.2%
HD	Sell	HOME DEPOT INC	$4,599,000	+10.3%	50,133	-2.6%	1.10%	+9.2%
BAC	Buy	BANK AMER CORP	$4,485,000	+24.5%	263,050	+12.3%	1.07%	+23.4%
BBBY	Sell	BED BATH & BEYOND INC	$3,816,000	+11.4%	57,975	-2.9%	0.91%	+10.3%
PEP	Sell	PEPSICO INC	$3,501,000	+2.2%	37,608	-2.0%	0.84%	+1.2%
CHK	Buy	CHESAPEAKE ENERGY CORP	$2,659,000	-12.4%	115,650	+18.4%	0.64%	-13.3%
NAT	Buy	NORDIC AMERICAN TANKERS LIMI	$2,544,000	+7.0%	320,050	+28.3%	0.61%	+6.1%
GE	Buy	GENERAL ELECTRIC CO	$2,492,000	+0.7%	97,286	+3.3%	0.60%	-0.3%
LLY	Sell	LILLY ELI & CO	$2,266,000	+3.2%	34,935	-1.1%	0.54%	+2.1%
ABT	Sell	ABBOTT LABS	$2,139,000	-0.7%	51,430	-2.3%	0.51%	-1.7%
WMT	Buy	WAL-MART STORES INC	$2,109,000	+2.1%	27,580	+0.2%	0.50%	+1.2%
LOW	Sell	LOWES COS INC	$2,044,000	+9.5%	38,620	-0.7%	0.49%	+8.4%
MTB	Sell	M & T BK CORP	$1,862,000	-13.5%	15,100	-13.0%	0.44%	-14.3%
HK	Buy	HALCON RES CORP	$1,782,000	-45.6%	450,100	+0.2%	0.43%	-46.1%
DD	Sell	DU PONT E I DE NEMOURS & CO	$1,431,000	-13.2%	19,935	-20.9%	0.34%	-14.1%
HON	Sell	HONEYWELL INTL INC	$980,000	-2.6%	10,525	-2.8%	0.23%	-3.7%
PFE	Sell	PFIZER INC	$954,000	-0.7%	32,251	-0.4%	0.23%	-1.7%
LPX	Buy	LOUISIANA PAC CORP	$906,000	+17.1%	66,650	+29.4%	0.22%	+15.5%
JPM	Sell	JPMORGAN CHASE & CO	$902,000	+4.0%	14,966	-0.6%	0.22%	+3.3%
CPB	Sell	CAMPBELL SOUP CO	$845,000	-7.7%	19,775	-1.0%	0.20%	-8.6%
IBKC	New	IBERIABANK CORP	$798,000	–	12,772	–	0.19%	–
KMI	Buy	KINDER MORGAN INC DEL	$796,000	+7.1%	20,750	+1.2%	0.19%	+6.1%
VOO	New	VANGUARD INDEX FDS	$768,000	–	4,218	–	0.18%	–
ORMP	Sell	ORAMED PHARM INC	$728,000	-17.0%	89,500	-1.9%	0.17%	-17.9%
ZBH	Sell	ZIMMER HLDGS INC	$698,000	-7.2%	6,940	-4.1%	0.17%	-7.7%
SU	Buy	SUNCOR ENERGY INC NEW	$644,000	+18.6%	17,825	+39.8%	0.15%	+17.6%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDadr	$576,000	-9.3%	10,714	-11.6%	0.14%	-9.8%
ITW	Sell	ILLINOIS TOOL WKS INC	$559,000	-4.3%	6,625	-0.7%	0.13%	-5.0%
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$556,000	-7.6%	6,695	-11.8%	0.13%	-8.3%
DOW	Sell	DOW CHEM CO	$541,000	-12.6%	10,325	-14.1%	0.13%	-13.4%
TTE	Sell	TOTAL S Asponsored adr	$409,000	-15.5%	6,350	-5.2%	0.10%	-16.2%
MDLZ	Sell	MONDELEZ INTL INCcl a	$373,000	-22.5%	10,882	-14.9%	0.09%	-23.3%
EPD	Buy	ENTERPRISE PRODS PARTNERS L	$372,000	+2.8%	9,240	+100.0%	0.09%	+2.3%
ORCL	Sell	ORACLE CORP	$348,000	-19.8%	9,100	-15.0%	0.08%	-21.0%
CVX	Buy	CHEVRON CORP NEW	$302,000	-6.8%	2,534	+2.0%	0.07%	-7.7%
INTC	Sell	INTEL CORP	$289,000	+0.7%	8,300	-10.8%	0.07%	0.0%
DOMR	Sell	DOMINION RES BLACK WARRIOR Tunits ben int	$286,000	+18.7%	39,775	-0.3%	0.07%	+17.2%
TXN	Sell	TEXAS INSTRS INC	$238,000	-4.0%	4,984	-3.9%	0.06%	-5.0%
DWM	New	WISDOMTREE TRdefa fd	$226,000	–	4,319	–	0.05%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$202,000	–	3,950	–	0.05%	–
TESO	Sell	TESCO CORP	$92,000	-90.0%	10,125	-83.9%	0.02%	-90.1%
BCS	Exit	BARCLAYS PLCadr	$0	–	-20,000	–	-0.02%	–
MMM	Exit	3M CO	$0	–	-1,418	–	-0.05%	–
IMO	Exit	IMPERIAL OIL LTD	$0	–	-3,900	–	-0.05%	–
SBR	Exit	SABINE ROYALTY TRunit ben int	$0	–	-3,425	–	-0.05%	–
LO	Exit	LORILLARD INC	$0	–	-5,400	–	-0.08%	–
AMGN	Exit	AMGEN INC	$0	–	-5,168	–	-0.15%	–
EXC	Exit	EXELON CORP	$0	–	-17,970	–	-0.16%	–
ABBV	Exit	ABBVIE INC	$0	–	-36,685	–	-0.50%	–

Q2 2014

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$108,557,000	–	857,755	–	26.19%	–
XOM	New	EXXON MOBIL CORP	$35,804,000	–	355,626	–	8.64%	–
USG	New	U S G CORP	$30,305,000	–	1,005,795	–	7.31%	–
COH	New	COACH INC	$25,863,000	–	756,450	–	6.24%	–
MRK	New	MERCK & CO INC NEW	$24,443,000	–	422,528	–	5.90%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$23,996,000	–	132,375	–	5.79%	–
JNJ	New	JOHNSON & JOHNSON	$20,903,000	–	199,804	–	5.04%	–
KO	New	COCA COLA CO	$18,202,000	–	429,695	–	4.39%	–
WFC	New	WELLS FARGO & CO NEW	$16,786,000	–	319,372	–	4.05%	–
USB	New	US BANCORP DEL	$14,983,000	–	345,868	–	3.62%	–
BP	New	BP PLCsponsored adr	$12,315,000	–	233,461	–	2.97%	–
COP	New	CONOCOPHILLIPS	$12,171,000	–	141,965	–	2.94%	–
CSCO	New	CISCO SYS INC	$5,323,000	–	214,215	–	1.28%	–
CSX	New	CSX CORP	$4,886,000	–	158,585	–	1.18%	–
HD	New	HOME DEPOT INC	$4,168,000	–	51,485	–	1.01%	–
BAC	New	BANK OF AMERICA CORPORATION	$3,601,000	–	234,275	–	0.87%	–
PEP	New	PEPSICO INC	$3,427,000	–	38,358	–	0.83%	–
BBBY	New	BED BATH & BEYOND INC	$3,427,000	–	59,725	–	0.83%	–
HK	New	HALCON RES CORP	$3,274,000	–	449,050	–	0.79%	–
CHK	New	CHESAPEAKE ENERGY CORP	$3,035,000	–	97,650	–	0.73%	–
GE	New	GENERAL ELECTRIC CO	$2,474,000	–	94,134	–	0.60%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$2,377,000	–	249,400	–	0.57%	–
LLY	New	LILLY ELI & CO	$2,195,000	–	35,310	–	0.53%	–
ABT	New	ABBOTT LABS	$2,154,000	–	52,665	–	0.52%	–
MTB	New	M & T BK CORP	$2,152,000	–	17,350	–	0.52%	–
ABBV	New	ABBVIE INC	$2,071,000	–	36,685	–	0.50%	–
WMT	New	WAL-MART STORES INC	$2,065,000	–	27,512	–	0.50%	–
LOW	New	LOWES COS INC	$1,867,000	–	38,905	–	0.45%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,649,000	–	25,200	–	0.40%	–
HON	New	HONEYWELL INTL INC	$1,006,000	–	10,825	–	0.24%	–
PFE	New	PFIZER INC	$961,000	–	32,385	–	0.23%	–
TESO	New	TESCO CORP	$923,000	–	63,000	–	0.22%	–
CPB	New	CAMPBELL SOUP CO	$915,000	–	19,975	–	0.22%	–
ORMP	New	ORAMED PHARM INC	$877,000	–	91,200	–	0.21%	–
JPM	New	JPMORGAN CHASE & CO	$867,000	–	15,051	–	0.21%	–
PG	New	PROCTER & GAMBLE CO	$854,000	–	10,870	–	0.21%	–
LPX	New	LOUISIANA PAC CORP	$774,000	–	51,525	–	0.19%	–
ZBH	New	ZIMMER HLDGS INC	$752,000	–	7,240	–	0.18%	–
KMI	New	KINDER MORGAN INC DEL	$743,000	–	20,500	–	0.18%	–
EXC	New	EXELON CORP	$656,000	–	17,970	–	0.16%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$635,000	–	12,114	–	0.15%	–
DOW	New	DOW CHEM CO	$619,000	–	12,025	–	0.15%	–
AMGN	New	AMGEN INC	$612,000	–	5,168	–	0.15%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$602,000	–	7,595	–	0.14%	–
T	New	AT&T INC	$588,000	–	16,632	–	0.14%	–
ITW	New	ILLINOIS TOOL WKS INC	$584,000	–	6,675	–	0.14%	–
SU	New	SUNCOR ENERGY INC NEW	$543,000	–	12,747	–	0.13%	–
KRFT	New	KRAFT FOODS GROUP INC	$500,000	–	8,343	–	0.12%	–
TTE	New	TOTAL S Asponsored adr	$484,000	–	6,700	–	0.12%	–
MDLZ	New	MONDELEZ INTL INCcl a	$481,000	–	12,782	–	0.12%	–
PM	New	PHILIP MORRIS INTL INC	$438,000	–	5,200	–	0.11%	–
ORCL	New	ORACLE CORP	$434,000	–	10,700	–	0.10%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$380,000	–	200	–	0.09%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$362,000	–	4,620	–	0.09%	–
AXP	New	AMERICAN EXPRESS CO	$349,000	–	3,675	–	0.08%	–
LO	New	LORILLARD INC	$329,000	–	5,400	–	0.08%	–
CVX	New	CHEVRON CORP NEW	$324,000	–	2,484	–	0.08%	–
INTC	New	INTEL CORP	$287,000	–	9,300	–	0.07%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$264,000	–	3,200	–	0.06%	–
MCD	New	MCDONALDS CORP	$259,000	–	2,575	–	0.06%	–
TXN	New	TEXAS INSTRS INC	$248,000	–	5,184	–	0.06%	–
MO	New	ALTRIA GROUP INC	$239,000	–	5,700	–	0.06%	–
DOMR	New	DOMINION RES BLACK WARRIOR Tunits ben int	$241,000	–	39,875	–	0.06%	–
SBR	New	SABINE ROYALTY TRunit ben int	$208,000	–	3,425	–	0.05%	–
CLX	New	CLOROX CO DEL	$209,000	–	2,290	–	0.05%	–
MMM	New	3M CO	$203,000	–	1,418	–	0.05%	–
IMO	New	IMPERIAL OIL LTD	$205,000	–	3,900	–	0.05%	–
BCS	New	BARCLAYS PLCadr	$73,000	–	20,000	–	0.02%	–

Q4 2013

			Value		Shares		↓ Weighting
CLX	Exit	CLOROX CO DEL	$0	–	-2,590	–	-0.11%	–
DOMR	Exit	DOMINION RES BLACK WARRIOR Tunits ben int	$0	–	-40,075	–	-0.11%	–
INTC	Exit	INTEL CORP	$0	–	-10,500	–	-0.12%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,625	–	-0.13%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-3,775	–	-0.14%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-6,500	–	-0.15%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,484	–	-0.15%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-8,384	–	-0.17%	–
ORCL	Exit	ORACLE CORP	$0	–	-11,200	–	-0.19%	–
TTE	Exit	TOTAL S Asponsored adr	$0	–	-6,600	–	-0.19%	–
PFE	Exit	PFIZER INC	$0	–	-15,677	–	-0.23%	–
DOW	Exit	DOW CHEM CO	$0	–	-14,425	–	-0.28%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-12,532	–	-0.33%	–
MDR	Exit	MCDERMOTT INTL INC	$0	–	-88,675	–	-0.34%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-11,445	–	-0.42%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-22,575	–	-0.47%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-12,450	–	-0.48%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-12,275	–	-0.52%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-57,696	–	-0.70%	–
LOW	Exit	LOWES COS INC	$0	–	-40,560	–	-0.98%	–
ABT	Exit	ABBOTT LABS	$0	–	-60,363	–	-1.02%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-35,432	–	-1.33%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-51,666	–	-1.54%	–
PEP	Exit	PEPSICO INC	$0	–	-39,422	–	-1.59%	–
LLY	Exit	LILLY ELI & CO	$0	–	-78,210	–	-2.00%	–
HD	Exit	HOME DEPOT INC	$0	–	-55,150	–	-2.13%	–
CSCO	Exit	CISCO SYS INC	$0	–	-215,179	–	-2.56%	–
CEF	Exit	CENTRAL FD CDA LTDcl a	$0	–	-369,550	–	-2.76%	–
BP	Exit	BP PLCsponsored adr	$0	–	-189,440	–	-4.05%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-44,624	–	-4.20%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-173,824	–	-6.14%	–
USB	Exit	US BANCORP DEL	$0	–	-341,318	–	-6.35%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-320,203	–	-6.73%	–
KO	Exit	COCA COLA CO	$0	–	-378,070	–	-7.28%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-277,672	–	-12.24%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-360,151	–	-15.75%	–
USG	Exit	U S G CORP	$0	–	-1,109,025	–	-16.11%	–

Q3 2013

			Value		Shares		↓ Weighting
USG	Sell	U S G CORP	$31,696,000	+23.0%	1,109,025	-0.8%	16.11%	+96.4%
XOM	Sell	EXXON MOBIL CORP	$30,987,000	-4.9%	360,151	-0.2%	15.75%	+51.7%
JNJ	Sell	JOHNSON & JOHNSON	$24,071,000	-10.3%	277,672	-11.2%	12.24%	+43.2%
KO	Buy	COCA COLA CO	$14,321,000	-5.5%	378,070	+0.0%	7.28%	+50.8%
WFC	Buy	WELLS FARGO & CO NEW	$13,231,000	+0.2%	320,203	+0.1%	6.73%	+59.9%
USB	Buy	US BANCORP DEL	$12,485,000	+1.3%	341,318	+0.1%	6.35%	+61.7%
COP	Sell	CONOCOPHILLIPS	$12,083,000	+13.5%	173,824	-1.2%	6.14%	+81.1%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$8,263,000	+36.0%	44,624	+40.4%	4.20%	+117.1%
BP	Buy	BP PLCsponsored adr	$7,962,000	+57.1%	189,440	+56.0%	4.05%	+150.8%
CEF	Buy	CENTRAL FD CDA LTDcl a	$5,432,000	+10.5%	369,550	+2.2%	2.76%	+76.4%
CSCO	Sell	CISCO SYS INC	$5,042,000	-8.5%	215,179	-5.0%	2.56%	+46.0%
HD	Sell	HOME DEPOT INC	$4,183,000	-3.8%	55,150	-1.8%	2.13%	+53.6%
LLY	Sell	LILLY ELI & CO	$3,936,000	-0.9%	78,210	-3.3%	2.00%	+58.2%
PEP	Sell	PEPSICO INC	$3,134,000	-30.5%	39,422	-28.5%	1.59%	+10.9%
DD	Sell	DU PONT E I DE NEMOURS & CO	$3,026,000	+10.1%	51,666	-1.3%	1.54%	+75.6%
WMT	Sell	WAL-MART STORES INC	$2,621,000	-5.1%	35,432	-4.4%	1.33%	+51.4%
ABT	Sell	ABBOTT LABS	$2,003,000	-22.7%	60,363	-18.8%	1.02%	+23.4%
LOW	Sell	LOWES COS INC	$1,931,000	+13.7%	40,560	-2.3%	0.98%	+81.5%
GE	Buy	GENERAL ELECTRIC CO	$1,378,000	+7.2%	57,696	+4.1%	0.70%	+71.4%
HON	Sell	HONEYWELL INTL INC	$1,019,000	+3.8%	12,275	-0.8%	0.52%	+65.5%
PG	Sell	PROCTER & GAMBLE CO	$941,000	-18.5%	12,450	-17.0%	0.48%	+29.9%
CPB	Sell	CAMPBELL SOUP CO	$919,000	-19.8%	22,575	-11.7%	0.47%	+27.9%
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$828,000	+3.8%	11,445	-1.3%	0.42%	+65.7%
MDR	Buy	MCDERMOTT INTL INC	$659,000	+16.2%	88,675	+27.9%	0.34%	+85.1%
JPM	Sell	JPMORGAN CHASE & CO	$648,000	-5.8%	12,532	-3.8%	0.33%	+50.2%
DOW	New	DOW CHEM CO	$554,000	–	14,425	–	0.28%	–
PFE	Sell	PFIZER INC	$450,000	-8.2%	15,677	-10.4%	0.23%	+46.8%
TTE	Buy	TOTAL S Asponsored adr	$382,000	+28.6%	6,600	+8.2%	0.19%	+104.2%
TXN	Sell	TEXAS INSTRS INC	$338,000	+10.5%	8,384	-4.6%	0.17%	+77.3%
CVX	Sell	CHEVRON CORP NEW	$302,000	-5.0%	2,484	-7.5%	0.15%	+52.5%
INTC	Buy	INTEL CORP	$241,000	+17.0%	10,500	+23.5%	0.12%	+86.4%
CLX	Sell	CLOROX CO DEL	$212,000	-3.2%	2,590	-1.9%	0.11%	+54.3%
CMKX	Exit	CMKM Diamonds	$0	–	-1,000,000	–	0.00%	–
K	Exit	KELLOGG CO	$0	–	-3,200	–	-0.07%	–
	Exit	AT&T	$0	–	-16,605	–	-0.19%	–
MRK	Exit	Merck & Co	$0	–	-478,661	–	-7.08%	–
BRKB	Exit	Berkshire Hathaway Class B	$0	–	-896,742	–	-31.97%	–

Q2 2013

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class B	$100,363,000	–	896,742	–	31.97%	–
XOM	New	EXXON MOBIL CORP	$32,598,000	–	360,801	–	10.38%	–
JNJ	New	JOHNSON & JOHNSON	$26,835,000	–	312,542	–	8.55%	–
USG	New	U S G CORP	$25,760,000	–	1,117,575	–	8.21%	–
MRK	New	Merck & Co	$22,234,000	–	478,661	–	7.08%	–
KO	New	COCA COLA CO	$15,160,000	–	377,970	–	4.83%	–
WFC	New	WELLS FARGO & CO NEW	$13,202,000	–	319,903	–	4.21%	–
USB	New	US BANCORP DEL	$12,324,000	–	340,918	–	3.93%	–
COP	New	CONOCOPHILLIPS	$10,649,000	–	176,024	–	3.39%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$6,074,000	–	31,781	–	1.94%	–
CSCO	New	CISCO SYS INC	$5,511,000	–	226,454	–	1.76%	–
BP	New	BP PLCsponsored adr	$5,068,000	–	121,413	–	1.61%	–
CEF	New	CENTRAL FD CDA LTDcl a	$4,917,000	–	361,550	–	1.57%	–
PEP	New	PEPSICO INC	$4,508,000	–	55,122	–	1.44%	–
HD	New	HOME DEPOT INC	$4,349,000	–	56,140	–	1.38%	–
LLY	New	LILLY ELI & CO	$3,972,000	–	80,860	–	1.26%	–
WMT	New	WAL-MART STORES INC	$2,762,000	–	37,082	–	0.88%	–
DD	New	DU PONT E I DE NEMOURS & CO	$2,749,000	–	52,366	–	0.88%	–
ABT	New	ABBOTT LABS	$2,591,000	–	74,293	–	0.82%	–
LOW	New	LOWES COS INC	$1,698,000	–	41,510	–	0.54%	–
GE	New	GENERAL ELECTRIC CO	$1,285,000	–	55,412	–	0.41%	–
PG	New	PROCTER & GAMBLE CO	$1,155,000	–	15,000	–	0.37%	–
CPB	New	CAMPBELL SOUP CO	$1,146,000	–	25,575	–	0.36%	–
HON	New	HONEYWELL INTL INC	$982,000	–	12,375	–	0.31%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$798,000	–	11,595	–	0.25%	–
JPM	New	JPMORGAN CHASE & CO	$688,000	–	13,032	–	0.22%	–
	New	AT&T	$588,000	–	16,605	–	0.19%	–
MDR	New	MCDERMOTT INTL INC	$567,000	–	69,325	–	0.18%	–
PFE	New	PFIZER INC	$490,000	–	17,500	–	0.16%	–
ORCL	New	ORACLE CORP	$344,000	–	11,200	–	0.11%	–
CVX	New	CHEVRON CORP NEW	$318,000	–	2,684	–	0.10%	–
TXN	New	TEXAS INSTRS INC	$306,000	–	8,784	–	0.10%	–
TTE	New	TOTAL S Asponsored adr	$297,000	–	6,100	–	0.10%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$290,000	–	6,500	–	0.09%	–
AXP	New	AMERICAN EXPRESS CO	$282,000	–	3,775	–	0.09%	–
MCD	New	MCDONALDS CORP	$260,000	–	2,625	–	0.08%	–
CLX	New	CLOROX CO DEL	$219,000	–	2,640	–	0.07%	–
K	New	KELLOGG CO	$206,000	–	3,200	–	0.07%	–
INTC	New	INTEL CORP	$206,000	–	8,500	–	0.07%	–
DOMR	New	DOMINION RES BLACK WARRIOR Tunits ben int	$168,000	–	40,075	–	0.05%	–
CMKX	New	CMKM Diamonds	$0	–	1,000,000	–	0.00%	–

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