CARDEROCK CAPITAL MANAGEMENT INC Activity Q4 2001-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Computer	$13,290,176	+78017.8%	77,625	-11.5%	4.46%	-15.5%
MA	Sell	Mastercard Worldwide	$12,519,862	+97856.8%	31,623	-2.7%	4.20%	+6.0%
MSFT	Sell	Microsoft Corp	$10,478,795	+91602.1%	33,187	-1.1%	3.52%	-0.8%
GOOGL	Sell	Alphabet Inc	$9,553,042	+105692.3%	73,002	-3.2%	3.21%	+14.5%
CDNS	Sell	Cadence Design Sys	$8,245,954	+97300.8%	35,194	-2.5%	2.77%	+5.4%
AON	Buy	Aon PLC	$8,204,711	+94380.8%	25,306	+0.6%	2.75%	+2.2%
FTNT	Buy	Fortinet Inc	$8,129,527	+93785.3%	138,540	+20.9%	2.73%	+1.6%
PH	Sell	Parker Hannifin Corp	$7,787,284	+97253.2%	19,992	-2.5%	2.61%	+5.4%
LRCX	Sell	Lam Research Corp	$7,664,770	+95399.3%	12,229	-2.1%	2.57%	+3.3%
ORLY	Sell	O'Reilly Automotive New	$7,626,244	+92372.9%	8,391	-2.8%	2.56%	+0.1%
ITW	Sell	Illinois Tool Works	$7,533,440	+89583.8%	32,710	-2.6%	2.53%	-3.0%
CTAS	Sell	Cintas Corp	$7,199,758	+93977.6%	14,968	-2.8%	2.42%	+1.8%
ADP	Sell	Automatic Data Proc	$7,020,124	+87849.4%	29,180	-19.6%	2.36%	-4.8%
APH	Sell	Amphenol Corp	$6,984,608	+97260.0%	83,160	-1.5%	2.34%	+5.4%
ACN	Sell	Accenture PLC Cl A	$6,862,066	+96372.2%	22,344	-3.1%	2.30%	+4.4%
UNH	Sell	UnitedHealth Grp	$6,863,538	+102233.9%	13,613	-2.5%	2.30%	+10.7%
APD	Sell	Air Products & Chemicals	$6,529,536	+91917.1%	23,040	-2.7%	2.19%	-0.4%
POOL	Sell	Pool Corp	$6,504,523	+85711.6%	18,266	-9.7%	2.18%	-7.1%
DHR	Buy	Danaher Corp	$6,453,825	+107231.2%	26,013	+3.8%	2.17%	+16.2%
HON	Sell	Honeywell Intl Inc	$6,432,277	+87011.0%	34,818	-2.2%	2.16%	-5.7%
COST	Buy	Costco Wholesale Co	$6,384,048	+105683.7%	11,300	+0.8%	2.14%	+14.5%
SPGI	Sell	S&P Global Inc	$6,374,943	+88613.4%	17,446	-2.7%	2.14%	-4.0%
SHW	Buy	Sherwin-Williams Co	$6,351,255	+96747.4%	24,902	+0.8%	2.13%	+4.8%
AME	Buy	Ametek	$6,345,110	+92219.4%	42,942	+1.1%	2.13%	-0.1%
TMO	Sell	Thermo Fisher Scientific	$6,273,471	+90113.8%	12,394	-7.0%	2.10%	-2.4%
PWR	Sell	Quanta Svcs	$6,241,029	+92827.8%	33,362	-2.4%	2.09%	+0.6%
ACGL	Buy	Arch Cap Group Ltd	$6,218,496	+162390.1%	78,014	+52.6%	2.09%	+75.8%
ANSS	Sell	Ansys	$6,014,676	+87513.6%	20,214	-2.8%	2.02%	-5.2%
ROP	Buy	Roper Technologies Inc	$6,009,431	+103636.1%	12,409	+3.0%	2.02%	+12.3%
VRSN	Buy	Verisign	$5,897,269	+101053.8%	29,118	+12.9%	1.98%	+9.5%
HD	Sell	Home Depot	$5,814,163	+97078.1%	19,242	-0.1%	1.95%	+5.2%
MTD	Buy	Mettler Toledo Intl	$5,351,978	+97742.4%	4,830	+15.8%	1.80%	+5.9%
IDXX	Buy	Idexx Labs	$5,291,404	+98804.7%	12,101	+13.6%	1.78%	+7.1%
INTU	Buy	Intuit	$5,226,916	+113429.9%	10,230	+1.8%	1.75%	+22.8%
IEX	Buy	Idex Corp	$5,160,144	+127216.7%	24,806	+31.8%	1.73%	+37.8%
WCN	Buy	Waste Connections Inc	$4,943,046	+97937.4%	36,806	+4.3%	1.66%	+6.1%
FISV	Buy	Fiserv	$4,730,991	+92338.3%	41,882	+3.2%	1.59%	+0.1%
ABT	Sell	Abbott Laboratories	$4,712,043	+87451.9%	48,653	-1.4%	1.58%	-5.3%
MCO	Sell	Moody's Corp	$4,541,150	+88681.0%	14,363	-2.4%	1.52%	-3.9%
IR	Buy	Ingersoll Rand	$4,494,618	+104183.5%	70,537	+7.0%	1.51%	+12.9%
HEI	Sell	Heico Corp	$4,296,974	+88993.4%	26,536	-2.6%	1.44%	-3.5%
CHD	Sell	Church & Dwight	$4,066,814	+88193.8%	44,383	-3.4%	1.36%	-4.4%
MKC	Buy	McCormick & Co	$3,769,368	+95423.8%	49,833	+10.1%	1.26%	+3.3%
NKE	Buy	Nike Cl B	$3,591,965	+87615.9%	37,565	+1.3%	1.20%	-5.1%
AMT	Sell	American Tower Corp	$1,926,532	+57254.3%	11,715	-32.4%	0.65%	-37.9%
ENPH	Sell	Enphase Energy Inc	$1,525,665	+37608.0%	12,698	-47.4%	0.51%	-59.2%
CVX	Buy	Chevron Corp	$791,165	+107395.2%	4,692	+0.4%	0.26%	+16.2%
XOM	Buy	Exxon Mobil Corp	$513,002	+150340.5%	4,363	+37.2%	0.17%	+62.3%
JNJ	New	Johnson & Johnson	$246,552	–	1,583	–	0.08%	–
KO	Sell	Coca Cola Co	$209,925	+88103.8%	3,750	-5.1%	0.07%	-5.4%
EXR	Exit	Extra Space Storage	$0	–	-21,504	–	-0.99%	–
SEDG	Exit	Solaredge Tech	$0	–	-14,100	–	-1.18%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$17,013	–	87,707	–	5.28%	–
MA	New	Mastercard Worldwide	$12,781	–	32,496	–	3.96%	–
MSFT	New	Microsoft Corp	$11,427	–	33,555	–	3.54%	–
GOOGL	New	Alphabet Inc	$9,030	–	75,438	–	2.80%	–
AON	New	Aon PLC	$8,684	–	25,157	–	2.69%	–
FTNT	New	Fortinet Inc	$8,659	–	114,552	–	2.68%	–
CDNS	New	Cadence Design Sys	$8,466	–	36,101	–	2.62%	–
ITW	New	Illinois Tool Works	$8,400	–	33,578	–	2.60%	–
ORLY	New	O'Reilly Automotive New	$8,247	–	8,633	–	2.56%	–
LRCX	New	Lam Research Corp	$8,026	–	12,485	–	2.49%	–
PH	New	Parker Hannifin Corp	$7,999	–	20,507	–	2.48%	–
ADP	New	Automatic Data Proc	$7,982	–	36,315	–	2.48%	–
CTAS	New	Cintas Corp	$7,653	–	15,396	–	2.37%	–
POOL	New	Pool Corp	$7,580	–	20,232	–	2.35%	–
HON	New	Honeywell Intl Inc	$7,384	–	35,585	–	2.29%	–
SPGI	New	S&P Global Inc	$7,186	–	17,925	–	2.23%	–
APH	New	Amphenol Corp	$7,174	–	84,446	–	2.22%	–
ACN	New	Accenture PLC Cl A	$7,113	–	23,050	–	2.20%	–
APD	New	Air Products & Chemicals	$7,096	–	23,691	–	2.20%	–
TMO	New	Thermo Fisher Scientific	$6,954	–	13,328	–	2.16%	–
AME	New	Ametek	$6,873	–	42,459	–	2.13%	–
ANSS	New	Ansys	$6,865	–	20,787	–	2.13%	–
PWR	New	Quanta Svcs	$6,716	–	34,186	–	2.08%	–
UNH	New	UnitedHealth Grp	$6,707	–	13,955	–	2.08%	–
SHW	New	Sherwin-Williams Co	$6,558	–	24,699	–	2.03%	–
COST	New	Costco Wholesale Co	$6,035	–	11,210	–	1.87%	–
DHR	New	Danaher Corp	$6,013	–	25,055	–	1.86%	–
HD	New	Home Depot	$5,983	–	19,259	–	1.86%	–
VRSN	New	Verisign	$5,830	–	25,799	–	1.81%	–
ROP	New	Roper Technologies Inc	$5,793	–	12,048	–	1.80%	–
MTD	New	Mettler Toledo Intl	$5,470	–	4,170	–	1.70%	–
ABT	New	Abbott Laboratories	$5,382	–	49,363	–	1.67%	–
IDXX	New	Idexx Labs	$5,350	–	10,653	–	1.66%	–
FISV	New	Fiserv	$5,118	–	40,568	–	1.59%	–
MCO	New	Moody's Corp	$5,115	–	14,711	–	1.59%	–
WCN	New	Waste Connections Inc	$5,042	–	35,277	–	1.56%	–
HEI	New	Heico Corp	$4,823	–	27,258	–	1.50%	–
CHD	New	Church & Dwight	$4,606	–	45,956	–	1.43%	–
INTU	New	Intuit	$4,604	–	10,048	–	1.43%	–
IR	New	Ingersoll Rand	$4,310	–	65,943	–	1.34%	–
NKE	New	Nike Cl B	$4,095	–	37,099	–	1.27%	–
IEX	New	Idex Corp	$4,053	–	18,828	–	1.26%	–
ENPH	New	Enphase Energy Inc	$4,046	–	24,158	–	1.26%	–
MKC	New	McCormick & Co	$3,946	–	45,242	–	1.22%	–
ACGL	New	Arch Cap Group Ltd	$3,827	–	51,130	–	1.19%	–
SEDG	New	Solaredge Tech	$3,794	–	14,100	–	1.18%	–
AMT	New	American Tower Corp	$3,359	–	17,322	–	1.04%	–
EXR	New	Extra Space Storage	$3,201	–	21,504	–	0.99%	–
TROW	New	TRPrice Assoc	$879	–	7,850	–	0.27%	–
CVX	New	Chevron Corp	$736	–	4,675	–	0.23%	–
BRKB	New	Berkshire Hathaway Cl B	$423	–	1,240	–	0.13%	–
PAYX	New	Paychex	$414	–	3,700	–	0.13%	–
XOM	New	Exxon Mobil Corp	$341	–	3,180	–	0.11%	–
IYW	New	iShares US Tech ETF	$340	–	3,120	–	0.10%	–
MAR	New	Marriott Intl New Cl A	$316	–	1,718	–	0.10%	–
CSX	New	CSX Corp	$252	–	7,400	–	0.08%	–
KO	New	Coca Cola Co	$238	–	3,950	–	0.07%	–
DLR	New	Digital Realty Trust REIT	$205	–	1,800	–	0.06%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	KBS REIT II	$0	–	-15,000	–	0.00%	–
TFC	Exit	Truist Finl Corp	$0	–	-4,727	–	-0.10%	–
IYW	Exit	iShares US Tech ETF	$0	–	-3,120	–	-0.12%	–
CSX	Exit	CSX Corp	$0	–	-9,008	–	-0.12%	–
MAR	Exit	Marriott Intl New Cl A	$0	–	-1,718	–	-0.12%	–
KO	Exit	Coca Cola Co	$0	–	-4,513	–	-0.13%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-3,480	–	-0.16%	–
ECL	Exit	Ecolab	$0	–	-2,110	–	-0.16%	–
BRKB	Exit	Berkshire Hathaway Cl B	$0	–	-1,250	–	-0.17%	–
JNJ	Exit	Johnson & Johnson	$0	–	-2,127	–	-0.18%	–
TTC	Exit	Toro Co	$0	–	-4,629	–	-0.20%	–
PAYX	Exit	Paychex	$0	–	-3,902	–	-0.22%	–
CVX	Exit	Chevron Corp	$0	–	-4,906	–	-0.36%	–
TEL	Exit	TE Connectivity Ltd	$0	–	-6,869	–	-0.39%	–
TROW	Exit	TRPrice Assoc	$0	–	-7,850	–	-0.42%	–
GNRC	Exit	Generac Hldgs Inc	$0	–	-4,788	–	-0.44%	–
ADBE	Exit	Adobe Inc	$0	–	-4,486	–	-0.63%	–
LRCX	Exit	Lam Research Corp	$0	–	-3,615	–	-0.68%	–
PKI	Exit	PerkinElmer Inc	$0	–	-12,882	–	-0.79%	–
EL	Exit	Estee Lauder Cos	$0	–	-7,269	–	-0.80%	–
ANSS	Exit	Ansys	$0	–	-7,542	–	-0.85%	–
IDXX	Exit	Idexx Labs	$0	–	-5,370	–	-0.89%	–
SEDG	Exit	Solaredge Tech	$0	–	-7,849	–	-0.93%	–
ENPH	Exit	Enphase Energy Inc	$0	–	-7,190	–	-1.02%	–
VRSN	Exit	Verisign	$0	–	-11,892	–	-1.05%	–
MCO	Exit	Moody's Corp	$0	–	-9,034	–	-1.12%	–
JPM	Exit	J P Morgan Chase	$0	–	-21,692	–	-1.16%	–
ROP	Exit	Roper Technologies Inc	$0	–	-6,397	–	-1.17%	–
FISV	Exit	Fiserv	$0	–	-24,758	–	-1.18%	–
SPGI	Exit	S&P Global Inc	$0	–	-7,904	–	-1.23%	–
INTU	Exit	Intuit	$0	–	-6,409	–	-1.27%	–
PWR	Exit	Quanta Svcs	$0	–	-21,288	–	-1.38%	–
NKE	Exit	Nike Cl B	$0	–	-33,355	–	-1.42%	–
FTNT	Exit	Fortinet Inc	$0	–	-57,093	–	-1.43%	–
EW	Exit	Edward Lifesciences	$0	–	-34,409	–	-1.45%	–
MKC	Exit	McCormick & Co	$0	–	-40,129	–	-1.46%	–
EXR	Exit	Extra Space Storage	$0	–	-17,343	–	-1.53%	–
CHD	Exit	Church & Dwight	$0	–	-42,452	–	-1.55%	–
AMT	Exit	American Tower Corp	$0	–	-14,187	–	-1.56%	–
LH	Exit	Laboratory Corp	$0	–	-14,993	–	-1.57%	–
SHW	Exit	Sherwin-Williams Co	$0	–	-15,440	–	-1.61%	–
ITW	Exit	Illinois Tool Works	$0	–	-17,848	–	-1.64%	–
AME	Exit	Ametek	$0	–	-29,412	–	-1.70%	–
WCN	Exit	Waste Connections Inc	$0	–	-26,272	–	-1.81%	–
TSM	Exit	Taiwan Semiconductor	$0	–	-53,098	–	-1.86%	–
NEE	Exit	NextEra Energy	$0	–	-48,989	–	-1.96%	–
APD	Exit	Air Products & Chemicals	$0	–	-17,676	–	-2.10%	–
HON	Exit	Honeywell Intl Inc	$0	–	-24,910	–	-2.12%	–
AON	Exit	Aon PLC	$0	–	-16,266	–	-2.22%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-4,073	–	-2.25%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-18,035	–	-2.37%	–
CDNS	Exit	Cadence Design Sys	$0	–	-29,247	–	-2.44%	–
ADP	Exit	Automatic Data Proc	$0	–	-21,303	–	-2.46%	–
HD	Exit	Home Depot	$0	–	-17,875	–	-2.52%	–
ABT	Exit	Abbott Laboratories	$0	–	-51,833	–	-2.56%	–
APH	Exit	Amphenol Corp	$0	–	-82,611	–	-2.82%	–
CTAS	Exit	Cintas Corp	$0	–	-14,938	–	-2.96%	–
COST	Exit	Costco Wholesale Co	$0	–	-12,335	–	-2.97%	–
DHR	Exit	Danaher Corp	$0	–	-22,932	–	-3.02%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-8,613	–	-3.09%	–
MA	Exit	Mastercard Worldwide	$0	–	-21,831	–	-3.17%	–
MSFT	Exit	Microsoft Corp	$0	–	-33,462	–	-3.98%	–
GOOGL	Exit	Alphabet Inc	$0	–	-81,509	–	-3.98%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-16,761	–	-4.34%	–
AAPL	Exit	Apple Computer	$0	–	-94,020	–	-6.63%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Computer	$12,994,000	-2.0%	94,020	-3.1%	6.63%	+19.8%
TMO	Sell	Thermo Fisher Scientific	$8,501,000	-10.4%	16,761	-4.0%	4.34%	+9.5%
GOOGL	Buy	Alphabet Inc	$7,796,000	-21.7%	81,509	+1684.3%	3.98%	-4.3%
MSFT	Sell	Microsoft Corp	$7,793,000	-13.7%	33,462	-4.8%	3.98%	+5.4%
MA	Sell	Mastercard Worldwide	$6,207,000	-12.7%	21,831	-3.1%	3.17%	+6.7%
ORLY	Sell	O'Reilly Automotive New	$6,058,000	+9.1%	8,613	-2.0%	3.09%	+33.4%
DHR	Sell	Danaher Corp	$5,923,000	-22.8%	22,932	-24.3%	3.02%	-5.7%
COST	Sell	Costco Wholesale Co	$5,825,000	-13.2%	12,335	-11.9%	2.97%	+6.1%
CTAS	Buy	Cintas Corp	$5,799,000	+52.6%	14,938	+46.9%	2.96%	+86.5%
APH	Sell	Amphenol Corp	$5,532,000	+1.4%	82,611	-2.5%	2.82%	+23.9%
ABT	Sell	Abbott Laboratories	$5,015,000	-29.4%	51,833	-20.7%	2.56%	-13.8%
HD	Sell	Home Depot	$4,932,000	-9.3%	17,875	-9.9%	2.52%	+10.8%
ADP	Sell	Automatic Data Proc	$4,819,000	-1.0%	21,303	-8.1%	2.46%	+20.9%
CDNS	Sell	Cadence Design Sys	$4,780,000	-7.3%	29,247	-14.9%	2.44%	+13.3%
ACN	Sell	Accenture PLC Cl A	$4,640,000	-17.7%	18,035	-11.2%	2.37%	+0.6%
MTD	Buy	Mettler Toledo Intl	$4,416,000	+20.9%	4,073	+28.1%	2.25%	+47.8%
AON	Sell	Aon PLC	$4,357,000	-3.7%	16,266	-3.1%	2.22%	+17.7%
HON	Sell	Honeywell Intl Inc	$4,159,000	-12.5%	24,910	-8.9%	2.12%	+7.0%
APD	Sell	Air Products & Chemicals	$4,114,000	-8.0%	17,676	-5.0%	2.10%	+12.4%
NEE	Buy	NextEra Energy	$3,841,000	+38.5%	48,989	+36.8%	1.96%	+69.1%
TSM	Sell	Taiwan Semiconductor	$3,640,000	-34.4%	53,098	-21.7%	1.86%	-19.8%
WCN	Sell	Waste Connections Inc	$3,550,000	-5.9%	26,272	-13.7%	1.81%	+15.0%
AME	Sell	Ametek	$3,336,000	-1.2%	29,412	-4.2%	1.70%	+20.8%
ITW	Sell	Illinois Tool Works	$3,224,000	-7.3%	17,848	-6.5%	1.64%	+13.2%
SHW	Sell	Sherwin-Williams Co	$3,161,000	-15.9%	15,440	-8.0%	1.61%	+2.8%
LH	Sell	Laboratory Corp	$3,071,000	-28.9%	14,993	-18.6%	1.57%	-13.1%
AMT	Sell	American Tower Corp	$3,046,000	-36.7%	14,187	-24.6%	1.56%	-22.6%
CHD	Sell	Church & Dwight	$3,033,000	-30.7%	42,452	-10.2%	1.55%	-15.4%
EXR	Sell	Extra Space Storage	$2,995,000	-13.2%	17,343	-14.5%	1.53%	+6.0%
MKC	Sell	McCormick & Co	$2,860,000	-19.1%	40,129	-5.5%	1.46%	-1.1%
EW	Sell	Edward Lifesciences	$2,843,000	-45.3%	34,409	-37.0%	1.45%	-33.1%
FTNT	Sell	Fortinet Inc	$2,805,000	-44.3%	57,093	-35.9%	1.43%	-32.0%
NKE	Buy	Nike Cl B	$2,772,000	-3.9%	33,355	+18.2%	1.42%	+17.4%
PWR	New	Quanta Svcs	$2,712,000	–	21,288	–	1.38%	–
INTU	Sell	Intuit	$2,482,000	-14.5%	6,409	-14.9%	1.27%	+4.5%
SPGI	Sell	S&P Global Inc	$2,413,000	-43.9%	7,904	-38.1%	1.23%	-31.5%
FISV	Sell	Fiserv	$2,317,000	+2.6%	24,758	-2.5%	1.18%	+25.5%
ROP	Sell	Roper Technologies Inc	$2,301,000	-22.6%	6,397	-15.1%	1.17%	-5.5%
JPM	Sell	J P Morgan Chase	$2,267,000	-48.4%	21,692	-44.4%	1.16%	-36.9%
MCO	Sell	Moody's Corp	$2,196,000	-29.6%	9,034	-21.3%	1.12%	-14.0%
VRSN	Sell	Verisign	$2,066,000	-18.5%	11,892	-21.5%	1.05%	-0.4%
ENPH	Buy	Enphase Energy Inc	$1,995,000	+102.7%	7,190	+42.7%	1.02%	+147.7%
SEDG	Sell	Solaredge Tech	$1,817,000	-18.4%	7,849	-3.6%	0.93%	-0.3%
IDXX	Sell	Idexx Labs	$1,750,000	-20.6%	5,370	-14.6%	0.89%	-3.0%
ANSS	Sell	Ansys	$1,672,000	-26.6%	7,542	-20.8%	0.85%	-10.3%
EL	Sell	Estee Lauder Cos	$1,569,000	-45.6%	7,269	-35.9%	0.80%	-33.5%
PKI	Sell	PerkinElmer Inc	$1,550,000	-56.5%	12,882	-48.6%	0.79%	-46.9%
LRCX	Sell	Lam Research Corp	$1,323,000	-54.3%	3,615	-46.7%	0.68%	-44.1%
ADBE	Sell	Adobe Inc	$1,235,000	-68.4%	4,486	-58.0%	0.63%	-61.4%
GNRC	Sell	Generac Hldgs Inc	$853,000	-64.0%	4,788	-57.5%	0.44%	-56.1%
TEL	Sell	TE Connectivity Ltd	$758,000	-74.4%	6,869	-73.7%	0.39%	-68.7%
CVX	Buy	Chevron Corp	$705,000	+2.0%	4,906	+2.7%	0.36%	+24.6%
TTC	Sell	Toro Co	$400,000	+7.5%	4,629	-5.8%	0.20%	+31.6%
JNJ	Buy	Johnson & Johnson	$347,000	-2.3%	2,127	+6.4%	0.18%	+19.6%
BRKB	Sell	Berkshire Hathaway Cl B	$334,000	-7.7%	1,250	-5.7%	0.17%	+12.6%
ECL	Sell	Ecolab	$305,000	-12.1%	2,110	-6.4%	0.16%	+7.6%
XOM	Buy	Exxon Mobil Corp	$304,000	+15.2%	3,480	+13.0%	0.16%	+40.9%
KO	New	Coca Cola Co	$253,000	–	4,513	–	0.13%	–
CSX	New	CSX Corp	$240,000	–	9,008	–	0.12%	–
TFC	Buy	Truist Finl Corp	$206,000	-6.4%	4,727	+1.9%	0.10%	+14.1%
	New	KBS REIT II	$0	–	15,000	–	0.00%	–
	Exit	Carlyle Tactical Priv Fdishares	$0	–	-23,000	–	-0.08%	–
IRT	Exit	Independence Realty Tr REIT	$0	–	-9,900	–	-0.09%	–
DLR	Exit	Digital Realty Trust REIT	$0	–	-1,900	–	-0.10%	–
GRMN	Exit	Garmin Ltd	$0	–	-14,842	–	-0.61%	–
AKAM	Exit	Akamai Technologies Inc	$0	–	-18,268	–	-0.70%	–
BCPC	Exit	Balchem Corp	$0	–	-19,303	–	-1.05%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$13,260,000	–	96,985	–	5.54%	–
GOOGL	New	Alphabet Inc	$9,955,000	–	4,568	–	4.16%	–
TMO	New	Thermo Fisher Scientific	$9,489,000	–	17,466	–	3.96%	–
MSFT	New	Microsoft Corp	$9,032,000	–	35,167	–	3.77%	–
DHR	New	Danaher Corp	$7,676,000	–	30,278	–	3.21%	–
MA	New	Mastercard Worldwide	$7,110,000	–	22,536	–	2.97%	–
ABT	New	Abbott Laboratories	$7,103,000	–	65,371	–	2.97%	–
COST	New	Costco Wholesale Co	$6,708,000	–	13,997	–	2.80%	–
ACN	New	Accenture PLC Cl A	$5,639,000	–	20,310	–	2.36%	–
ORLY	New	O'Reilly Automotive New	$5,551,000	–	8,787	–	2.32%	–
TSM	New	Taiwan Semiconductor	$5,546,000	–	67,847	–	2.32%	–
APH	New	Amphenol Corp	$5,457,000	–	84,765	–	2.28%	–
HD	New	Home Depot	$5,439,000	–	19,830	–	2.27%	–
EW	New	Edward Lifesciences	$5,195,000	–	54,636	–	2.17%	–
CDNS	New	Cadence Design Sys	$5,154,000	–	34,356	–	2.15%	–
FTNT	New	Fortinet Inc	$5,039,000	–	89,065	–	2.10%	–
ADP	New	Automatic Data Proc	$4,870,000	–	23,185	–	2.03%	–
AMT	New	American Tower Corp	$4,811,000	–	18,822	–	2.01%	–
HON	New	Honeywell Intl Inc	$4,752,000	–	27,340	–	1.98%	–
AON	New	Aon PLC	$4,525,000	–	16,778	–	1.89%	–
APD	New	Air Products & Chemicals	$4,474,000	–	18,603	–	1.87%	–
JPM	New	J P Morgan Chase	$4,391,000	–	38,996	–	1.83%	–
CHD	New	Church & Dwight	$4,378,000	–	47,252	–	1.83%	–
LH	New	Laboratory Corp	$4,318,000	–	18,425	–	1.80%	–
SPGI	New	S&P Global Inc	$4,305,000	–	12,772	–	1.80%	–
ADBE	New	Adobe Inc	$3,913,000	–	10,689	–	1.63%	–
CTAS	New	Cintas Corp	$3,800,000	–	10,172	–	1.59%	–
WCN	New	Waste Connections Inc	$3,772,000	–	30,430	–	1.58%	–
SHW	New	Sherwin-Williams Co	$3,757,000	–	16,777	–	1.57%	–
MTD	New	Mettler Toledo Intl	$3,652,000	–	3,179	–	1.52%	–
PKI	New	PerkinElmer Inc	$3,567,000	–	25,081	–	1.49%	–
MKC	New	McCormick & Co	$3,534,000	–	42,449	–	1.48%	–
ITW	New	Illinois Tool Works	$3,478,000	–	19,082	–	1.45%	–
EXR	New	Extra Space Storage	$3,452,000	–	20,290	–	1.44%	–
AME	New	Ametek	$3,375,000	–	30,717	–	1.41%	–
MCO	New	Moody's Corp	$3,121,000	–	11,477	–	1.30%	–
ROP	New	Roper Technologies Inc	$2,973,000	–	7,533	–	1.24%	–
TEL	New	TE Connectivity Ltd	$2,959,000	–	26,152	–	1.24%	–
INTU	New	Intuit	$2,902,000	–	7,529	–	1.21%	–
LRCX	New	Lam Research Corp	$2,893,000	–	6,788	–	1.21%	–
NKE	New	Nike Cl B	$2,885,000	–	28,231	–	1.20%	–
EL	New	Estee Lauder Cos Inc Cl A	$2,886,000	–	11,332	–	1.20%	–
NEE	New	NextEra Energy	$2,774,000	–	35,807	–	1.16%	–
VRSN	New	Verisign	$2,534,000	–	15,145	–	1.06%	–
BCPC	New	Balchem Corp	$2,504,000	–	19,303	–	1.05%	–
GNRC	New	Generac Hldgs Inc	$2,370,000	–	11,254	–	0.99%	–
ANSS	New	Ansys	$2,278,000	–	9,518	–	0.95%	–
FISV	New	Fiserv	$2,259,000	–	25,395	–	0.94%	–
SEDG	New	Solaredge Tech	$2,227,000	–	8,139	–	0.93%	–
IDXX	New	Idexx Labs	$2,204,000	–	6,285	–	0.92%	–
AKAM	New	Akamai Technologies Inc	$1,668,000	–	18,268	–	0.70%	–
GRMN	New	Garmin Ltd	$1,458,000	–	14,842	–	0.61%	–
ENPH	New	Enphase Energy Inc	$984,000	–	5,038	–	0.41%	–
TROW	New	TRPrice Assoc	$892,000	–	7,850	–	0.37%	–
CVX	New	Chevron Corp	$691,000	–	4,776	–	0.29%	–
PAYX	New	Paychex	$444,000	–	3,902	–	0.18%	–
TTC	New	Toro Co	$372,000	–	4,912	–	0.16%	–
BRKB	New	Berkshire Hathaway Cl B	$362,000	–	1,325	–	0.15%	–
JNJ	New	Johnson & Johnson	$355,000	–	2,000	–	0.15%	–
ECL	New	Ecolab	$347,000	–	2,255	–	0.14%	–
XOM	New	Exxon Mobil Corp	$264,000	–	3,080	–	0.11%	–
IYW	New	iShares US Tech ETFishares	$249,000	–	3,120	–	0.10%	–
DLR	New	Digital Realty Trust REIT	$247,000	–	1,900	–	0.10%	–
MAR	New	Marriott Intl New Cl A	$234,000	–	1,718	–	0.10%	–
TFC	New	Truist Finl Corp	$220,000	–	4,637	–	0.09%	–
IRT	New	Independence Realty Tr REIT	$205,000	–	9,900	–	0.09%	–
	New	Carlyle Tactical Priv Fdishares	$193,000	–	23,000	–	0.08%	–

Q4 2021

			Value		Shares		↓ Weighting
LHX	Exit	L3 Harris	$0	–	-3	–	0.00%	–
PSX	Exit	Phillips 66	$0	–	-1	–	0.00%	–
CVET	Exit	Covetrus Inc	$0	–	-66	–	0.00%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-7	–	0.00%	–
KHC	Exit	Kraft Heinz Company	$0	–	-25	–	0.00%	–
CHKP	Exit	Check Point Software	$0	–	-2	–	0.00%	–
MPC	Exit	Marathon Pete Corp	$0	–	-4	–	0.00%	–
PSA	Exit	Public Storage Com	$0	–	-2	–	0.00%	–
HUBB	Exit	Hubbell Inc	$0	–	-30	–	-0.00%	–
T	Exit	AT & T	$0	–	-200	–	-0.00%	–
VNT	Exit	Vontier Corp	$0	–	-150	–	-0.00%	–
ABB	Exit	ABB Ltd Spons ADR	$0	–	-150	–	-0.00%	–
TSLA	Exit	Tesla Inc	$0	–	-5	–	-0.00%	–
IJR	Exit	iShares Core S&P Small Cap ETFishares	$0	–	-64	–	-0.00%	–
FTV	Exit	Fortive Corp	$0	–	-102	–	-0.00%	–
NOC	Exit	Northrop Corp	$0	–	-20	–	-0.00%	–
CTXS	Exit	Citrix Systems	$0	–	-75	–	-0.00%	–
MSI	Exit	Motorola Solutions	$0	–	-50	–	-0.00%	–
CAT	Exit	Caterpillar Inc	$0	–	-50	–	-0.00%	–
CTVA	Exit	Corteva Inc	$0	–	-211	–	-0.00%	–
DLTR	Exit	Dollar Tree Inc	$0	–	-120	–	-0.00%	–
QCOM	Exit	Qualcomm	$0	–	-75	–	-0.00%	–
VLO	Exit	Valero Energy Corp New	$0	–	-165	–	-0.00%	–
UNP	Exit	Union Pacific Corp	$0	–	-50	–	-0.00%	–
DOW	Exit	Dow Inc	$0	–	-211	–	-0.00%	–
KO	Exit	Coca Cola Co	$0	–	-225	–	-0.00%	–
HSIC	Exit	Henry Schein	$0	–	-200	–	-0.00%	–
AZO	Exit	Autozone	$0	–	-10	–	-0.01%	–
ETN	Exit	Eaton Corp PLC	$0	–	-130	–	-0.01%	–
OTIS	Exit	Otis Worldwide Corp	$0	–	-212	–	-0.01%	–
IVV	Exit	iShares S&P 500 Value Fdishares	$0	–	-47	–	-0.01%	–
CARR	Exit	Carrier Global Corp	$0	–	-415	–	-0.01%	–
UPS	Exit	United Parcel Svc Cl B	$0	–	-167	–	-0.01%	–
VAC	Exit	Marriott Vacations Worldwide	$0	–	-170	–	-0.01%	–
AJG	Exit	Arthur J. Gallagher & Co	$0	–	-200	–	-0.01%	–
	Exit	Invesco Dev Mkts Fdishares	$0	–	-594	–	-0.01%	–
FB	Exit	Facebook Inc Cl A	$0	–	-90	–	-0.01%	–
MFC	Exit	Manulife Finl Corp	$0	–	-1,940	–	-0.01%	–
PANW	Exit	Palo Alto Networks	$0	–	-75	–	-0.01%	–
VZ	Exit	Verizon Communications Inc	$0	–	-657	–	-0.01%	–
LULU	Exit	Lululemon Athletica	$0	–	-100	–	-0.01%	–
KBE	Exit	SPDR S&P Bank ETFishares	$0	–	-940	–	-0.01%	–
WAT	Exit	Waters Corp	$0	–	-140	–	-0.01%	–
USB	Exit	US Bancorp Com	$0	–	-900	–	-0.02%	–
IBM	Exit	Intl Business Mach	$0	–	-382	–	-0.02%	–
D	Exit	Dominion Energy Inc	$0	–	-800	–	-0.02%	–
XLF	Exit	Select Str Finl Select SPDR ET	$0	–	-1,585	–	-0.02%	–
CVS	Exit	CVS Health Corp	$0	–	-740	–	-0.02%	–
DHI	Exit	D R Horton Inc	$0	–	-778	–	-0.02%	–
PEP	Exit	PepsiCo Inc	$0	–	-435	–	-0.02%	–
MCD	Exit	McDonald's Corp	$0	–	-265	–	-0.02%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-595	–	-0.02%	–
RTX	Exit	Raytheon Technologies Corp	$0	–	-765	–	-0.02%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-300	–	-0.02%	–
MMM	Exit	3M Co	$0	–	-400	–	-0.02%	–
LOW	Exit	Lowes Cos	$0	–	-375	–	-0.02%	–
XLU	Exit	Utilities Select Sector SPDR	$0	–	-1,221	–	-0.02%	–
V	Exit	VISA Inc Com Cl A	$0	–	-375	–	-0.02%	–
ENPH	Exit	Enphase Energy Inc	$0	–	-569	–	-0.02%	–
MCHP	Exit	Microchip Technology	$0	–	-561	–	-0.02%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-1,570	–	-0.03%	–
BAM	Exit	Brookfield Asset Mgmt Inc	$0	–	-1,912	–	-0.03%	–
TRV	Exit	Travelers Cos Inc	$0	–	-700	–	-0.03%	–
INTC	Exit	Intel Corp	$0	–	-2,090	–	-0.03%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-2,000	–	-0.03%	–
	Exit	SEI Mkt Gwth Stratishares	$0	–	-3,778	–	-0.03%	–
	Exit	Johcm Intl Select Fdishares	$0	–	-3,717	–	-0.03%	–
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-1,250	–	-0.03%	–
XLV	Exit	Sector Healthcare Select Secto	$0	–	-1,010	–	-0.04%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-2,205	–	-0.04%	–
	Exit	Vanguard Life Gwth Fdishares	$0	–	-3,078	–	-0.04%	–
IT	Exit	Gartner Group Cl A	$0	–	-482	–	-0.04%	–
MRK	Exit	Merck & Co Inc New	$0	–	-2,050	–	-0.04%	–
PNC	Exit	PNC Finl Svcs Group	$0	–	-800	–	-0.04%	–
NFLX	Exit	Netflix Com	$0	–	-266	–	-0.05%	–
	Exit	Edgewood Grwth Instl Fdishares	$0	–	-2,757	–	-0.05%	–
CSX	Exit	CSX Corp	$0	–	-6,000	–	-0.05%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-70	–	-0.05%	–
TFC	Exit	Truist Finl Corp	$0	–	-3,237	–	-0.05%	–
CL	Exit	Colgate Palmolive	$0	–	-2,525	–	-0.05%	–
SBUX	Exit	Starbucks Corp	$0	–	-1,875	–	-0.06%	–
DIS	Exit	Walt Disney Company	$0	–	-1,250	–	-0.06%	–
UNH	Exit	UnitedHealth Grp	$0	–	-540	–	-0.06%	–
CLX	Exit	Clorox Co	$0	–	-1,365	–	-0.06%	–
PG	Exit	Procter & Gamble Co	$0	–	-1,686	–	-0.07%	–
TEL	Exit	TE Connectivity Ltd	$0	–	-1,839	–	-0.07%	–
BRKB	Exit	Berkshire Hathaway Cl B	$0	–	-925	–	-0.07%	–
MAR	Exit	Marriott Intl New Cl A	$0	–	-1,718	–	-0.07%	–
IYW	Exit	iShares US Tech ETFishares	$0	–	-3,120	–	-0.09%	–
JNJ	Exit	Johnson & Johnson	$0	–	-2,339	–	-0.11%	–
CVX	Exit	Chevron Corp	$0	–	-4,831	–	-0.14%	–
AMGN	Exit	Amgen Inc	$0	–	-2,478	–	-0.15%	–
PAYX	Exit	Paychex	$0	–	-4,748	–	-0.15%	–
EXR	Exit	Extra Space Storage	$0	–	-3,633	–	-0.17%	–
PKI	Exit	PerkinElmer Inc	$0	–	-8,162	–	-0.40%	–
AKAM	Exit	Akamai Technologies Inc	$0	–	-13,596	–	-0.40%	–
PYPL	Exit	Paypal Hldgs Inc	$0	–	-5,556	–	-0.41%	–
TROW	Exit	TRPrice Assoc	$0	–	-7,925	–	-0.44%	–
TMUS	Exit	T-Mobile US Inc	$0	–	-13,757	–	-0.50%	–
AMZN	Exit	Amazon.com	$0	–	-583	–	-0.54%	–
LRCX	Exit	Lam Research Corp	$0	–	-3,469	–	-0.56%	–
SEDG	Exit	Solaredge Tech	$0	–	-7,845	–	-0.59%	–
FICO	Exit	Fair Isaac Corp	$0	–	-5,469	–	-0.61%	–
ATR	Exit	Aptargroup	$0	–	-19,016	–	-0.64%	–
BCPC	Exit	Balchem Corp	$0	–	-16,610	–	-0.68%	–
GRMN	Exit	Garmin Ltd	$0	–	-16,906	–	-0.74%	–
EQIX	Exit	Equinix Inc REIT	$0	–	-3,342	–	-0.74%	–
CSGP	Exit	Costar Group Com	$0	–	-31,172	–	-0.76%	–
WCN	Exit	Waste Connections Inc	$0	–	-23,710	–	-0.84%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-12,531	–	-0.87%	–
NEE	Exit	NextEra Energy	$0	–	-40,566	–	-0.90%	–
MKC	Exit	McCormick & Co	$0	–	-43,231	–	-0.99%	–
GNRC	Exit	Generac Hldgs Inc	$0	–	-8,870	–	-1.02%	–
AME	Exit	Ametek	$0	–	-30,730	–	-1.07%	–
CTAS	Exit	Cintas Corp	$0	–	-10,233	–	-1.10%	–
APD	Exit	Air Products & Chemicals	$0	–	-16,009	–	-1.16%	–
ECL	Exit	Ecolab	$0	–	-19,660	–	-1.16%	–
FISV	Exit	Fiserv	$0	–	-40,143	–	-1.23%	–
JPM	Exit	J P Morgan Chase	$0	–	-26,735	–	-1.23%	–
ITW	Exit	Illinois Tool Works	$0	–	-21,999	–	-1.28%	–
MCO	Exit	Moody's Corp	$0	–	-13,382	–	-1.34%	–
FTNT	Exit	Fortinet Inc	$0	–	-16,541	–	-1.36%	–
ADP	Exit	Automatic Data Proc	$0	–	-24,942	–	-1.40%	–
EW	Exit	Edward Lifesciences	$0	–	-44,299	–	-1.41%	–
CHD	Exit	Church & Dwight	$0	–	-60,747	–	-1.41%	–
CDNS	Exit	Cadence Design Sys	$0	–	-33,797	–	-1.44%	–
ROP	Exit	Roper Technologies Inc	$0	–	-11,599	–	-1.46%	–
AMT	Exit	American Tower Corp	$0	–	-20,084	–	-1.50%	–
TTC	Exit	Toro Co	$0	–	-55,852	–	-1.53%	–
SHW	Exit	Sherwin-Williams Co	$0	–	-19,465	–	-1.53%	–
HON	Exit	Honeywell Intl Inc	$0	–	-27,178	–	-1.63%	–
SPGI	Exit	S&P Global Inc	$0	–	-14,494	–	-1.74%	–
EL	Exit	Estee Lauder Cos Inc	$0	–	-21,489	–	-1.82%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-10,665	–	-1.84%	–
AON	Exit	Aon PLC	$0	–	-24,089	–	-1.94%	–
ABT	Exit	Abbott Laboratories	$0	–	-60,390	–	-2.01%	–
HD	Exit	Home Depot	$0	–	-21,975	–	-2.03%	–
ANSS	Exit	Ansys	$0	–	-21,365	–	-2.05%	–
LH	Exit	Laboratory Corp	$0	–	-26,120	–	-2.07%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-5,391	–	-2.09%	–
COST	Exit	Costco Wholesale	$0	–	-16,859	–	-2.14%	–
NKE	Exit	Nike Cl B	$0	–	-58,086	–	-2.38%	–
APH	Exit	Amphenol Corp	$0	–	-119,007	–	-2.46%	–
MA	Exit	Mastercard Worldwide	$0	–	-25,514	–	-2.50%	–
IDXX	Exit	Idexx Labs	$0	–	-15,774	–	-2.76%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-18,480	–	-2.98%	–
GOOGL	Exit	Alphabet Inc	$0	–	-3,971	–	-2.99%	–
DHR	Exit	Danaher Corp	$0	–	-34,927	–	-3.00%	–
TSM	Exit	Taiwan Semiconductor	$0	–	-96,648	–	-3.04%	–
ADBE	Exit	Adobe Inc	$0	–	-19,182	–	-3.11%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-35,100	–	-3.16%	–
INTU	Exit	Intuit	$0	–	-21,009	–	-3.19%	–
MSFT	Exit	Microsoft Corp	$0	–	-43,698	–	-3.47%	–
AAPL	Exit	Apple Computer	$0	–	-143,933	–	-5.74%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Computer	$20,367,000	+3.7%	143,933	+0.4%	5.74%	+6.6%
MSFT	Buy	Microsoft Corp	$12,319,000	+5.8%	43,698	+1.7%	3.47%	+8.8%
INTU	Buy	Intuit	$11,335,000	+12.5%	21,009	+2.2%	3.19%	+15.6%
ACN	Sell	Accenture PLC Cl A	$11,229,000	-11.6%	35,100	-18.5%	3.16%	-9.1%
ADBE	Buy	Adobe Inc	$11,043,000	-0.3%	19,182	+1.5%	3.11%	+2.5%
TSM	Sell	Taiwan Semiconductor	$10,791,000	-24.1%	96,648	-18.3%	3.04%	-22.0%
DHR	Buy	Danaher Corp	$10,633,000	+14.0%	34,927	+0.5%	3.00%	+17.1%
GOOGL	Buy	Alphabet Inc	$10,617,000	+18.1%	3,971	+7.8%	2.99%	+21.3%
TMO	Sell	Thermo Fisher Scientific	$10,558,000	+13.2%	18,480	-0.1%	2.98%	+16.3%
IDXX	Sell	Idexx Labs	$9,810,000	-1.9%	15,774	-0.4%	2.76%	+0.8%
MA	Buy	Mastercard Worldwide	$8,871,000	-4.6%	25,514	+0.1%	2.50%	-2.0%
APH	Sell	Amphenol Corp	$8,715,000	+6.3%	119,007	-0.7%	2.46%	+9.3%
NKE	Buy	Nike Cl B	$8,436,000	-4.5%	58,086	+1.5%	2.38%	-1.9%
COST	Buy	Costco Wholesale	$7,576,000	+15.1%	16,859	+1.3%	2.14%	+18.3%
MTD	Buy	Mettler Toledo Intl	$7,425,000	+1.4%	5,391	+1.9%	2.09%	+4.1%
LH	Sell	Laboratory Corp	$7,351,000	+1.5%	26,120	-0.5%	2.07%	+4.4%
ANSS	Sell	Ansys	$7,274,000	-11.1%	21,365	-9.3%	2.05%	-8.6%
HD	Buy	Home Depot	$7,214,000	+5.7%	21,975	+2.7%	2.03%	+8.7%
ABT	Buy	Abbott Laboratories	$7,134,000	+2.6%	60,390	+0.7%	2.01%	+5.5%
AON	Buy	Aon PLC	$6,884,000	+19.8%	24,089	+0.1%	1.94%	+23.2%
ORLY	Buy	O'Reilly Automotive New	$6,517,000	+8.9%	10,665	+0.9%	1.84%	+11.9%
EL	Buy	Estee Lauder Cos Inc	$6,445,000	-5.5%	21,489	+0.2%	1.82%	-2.9%
SPGI	Buy	S&P Global Inc	$6,158,000	+4.8%	14,494	+1.2%	1.74%	+7.6%
HON	Buy	Honeywell Intl Inc	$5,769,000	+1.6%	27,178	+5.0%	1.63%	+4.5%
SHW	Buy	Sherwin-Williams Co	$5,445,000	+3.1%	19,465	+0.5%	1.53%	+5.9%
TTC	Sell	Toro Co	$5,441,000	-18.8%	55,852	-8.4%	1.53%	-16.5%
AMT	Buy	American Tower Corp	$5,330,000	-1.6%	20,084	+0.2%	1.50%	+1.1%
ROP	Buy	Roper Technologies Inc	$5,175,000	-3.4%	11,599	+1.8%	1.46%	-0.7%
CDNS	Buy	Cadence Design Sys	$5,118,000	+11.1%	33,797	+0.3%	1.44%	+14.1%
CHD	Sell	Church & Dwight	$5,016,000	-13.7%	60,747	-11.0%	1.41%	-11.3%
EW	Buy	Edward Lifesciences	$5,015,000	+12.0%	44,299	+2.4%	1.41%	+15.1%
ADP	Buy	Automatic Data Proc	$4,986,000	+3.6%	24,942	+2.9%	1.40%	+6.4%
FTNT	Buy	Fortinet Inc	$4,831,000	+22.9%	16,541	+0.2%	1.36%	+26.3%
MCO	Buy	Moody's Corp	$4,752,000	-0.1%	13,382	+2.0%	1.34%	+2.7%
ITW	Sell	Illinois Tool Works	$4,546,000	-20.1%	21,999	-13.5%	1.28%	-17.8%
JPM	Buy	J P Morgan Chase	$4,376,000	+8.1%	26,735	+2.7%	1.23%	+11.1%
FISV	Sell	Fiserv	$4,356,000	-9.1%	40,143	-10.4%	1.23%	-6.5%
ECL	Sell	Ecolab	$4,101,000	+1.1%	19,660	-0.2%	1.16%	+4.0%
APD	Buy	Air Products & Chemicals	$4,100,000	-10.8%	16,009	+0.2%	1.16%	-8.3%
CTAS	Buy	Cintas Corp	$3,895,000	+2.1%	10,233	+2.5%	1.10%	+5.0%
AME	Sell	Ametek	$3,811,000	-23.9%	30,730	-18.1%	1.07%	-21.8%
GNRC	Buy	Generac Hldgs Inc	$3,625,000	+30.2%	8,870	+32.3%	1.02%	+33.9%
MKC	Sell	McCormick & Co	$3,503,000	-24.8%	43,231	-18.1%	0.99%	-22.7%
NEE	Buy	NextEra Energy	$3,185,000	+9.9%	40,566	+2.6%	0.90%	+13.1%
BDX	Sell	Becton Dickinson & Co	$3,080,000	-28.3%	12,531	-29.1%	0.87%	-26.3%
WCN	Buy	Waste Connections Inc	$2,986,000	+11.9%	23,710	+6.1%	0.84%	+14.9%
CSGP	Buy	Costar Group Com	$2,683,000	+4.9%	31,172	+1.0%	0.76%	+7.8%
EQIX	Buy	Equinix Inc REIT	$2,641,000	+23.4%	3,342	+25.3%	0.74%	+26.7%
GRMN	Buy	Garmin Ltd	$2,628,000	+47.1%	16,906	+36.9%	0.74%	+51.2%
BCPC	Buy	Balchem Corp	$2,410,000	+12.7%	16,610	+1.9%	0.68%	+15.7%
ATR	Sell	Aptargroup	$2,270,000	-15.6%	19,016	-0.4%	0.64%	-13.3%
FICO	Sell	Fair Isaac Corp	$2,176,000	-38.0%	5,469	-21.7%	0.61%	-36.3%
SEDG	Buy	Solaredge Tech	$2,081,000	+1.7%	7,845	+6.0%	0.59%	+4.5%
LRCX	Buy	Lam Research Corp	$1,974,000	+18.3%	3,469	+35.2%	0.56%	+21.4%
AMZN	Buy	Amazon.com	$1,915,000	-0.4%	583	+4.3%	0.54%	+2.5%
TMUS	Sell	T-Mobile US Inc	$1,758,000	-14.2%	13,757	-2.7%	0.50%	-11.9%
PYPL	Sell	Paypal Hldgs Inc	$1,446,000	-34.8%	5,556	-27.0%	0.41%	-33.1%
AKAM	Buy	Akamai Technologies Inc	$1,422,000	-8.5%	13,596	+2.0%	0.40%	-5.9%
PKI	New	PerkinElmer Inc	$1,414,000	–	8,162	–	0.40%	–
EXR	Buy	Extra Space Storage	$610,000	+11.7%	3,633	+9.0%	0.17%	+14.7%
PAYX	Sell	Paychex	$534,000	-10.9%	4,748	-15.0%	0.15%	-8.5%
AMGN	Sell	Amgen Inc	$527,000	-89.8%	2,478	-88.3%	0.15%	-89.5%
CVX	Buy	Chevron Corp	$490,000	+25.3%	4,831	+29.5%	0.14%	+29.0%
JNJ	Sell	Johnson & Johnson	$378,000	-21.6%	2,339	-20.0%	0.11%	-18.9%
IYW	New	iShares US Tech ETFishares	$316,000	–	3,120	–	0.09%	–
MAR	Sell	Marriott Intl New Cl A	$254,000	-3.1%	1,718	-10.4%	0.07%	0.0%
BRKB	Sell	Berkshire Hathaway Cl B	$252,000	-13.7%	925	-11.9%	0.07%	-11.2%
TEL	New	TE Connectivity Ltd	$252,000	–	1,839	–	0.07%	–
PG	New	Procter & Gamble Co	$236,000	–	1,686	–	0.07%	–
CLX	Sell	Clorox Co	$226,000	-16.9%	1,365	-9.6%	0.06%	-14.7%
UNH	Sell	UnitedHealth Grp	$211,000	-89.3%	540	-89.1%	0.06%	-89.1%
DIS	New	Walt Disney Company	$211,000	–	1,250	–	0.06%	–
SBUX	Sell	Starbucks Corp	$207,000	-89.1%	1,875	-89.0%	0.06%	-88.9%
TFC	New	Truist Finl Corp	$190,000	–	3,237	–	0.05%	–
CL	New	Colgate Palmolive	$191,000	–	2,525	–	0.05%	–
GOOG	New	Alphabet Inc Cl C	$187,000	–	70	–	0.05%	–
CSX	New	CSX Corp	$178,000	–	6,000	–	0.05%	–
	New	Edgewood Grwth Instl Fdishares	$173,000	–	2,757	–	0.05%	–
NFLX	New	Netflix Com	$162,000	–	266	–	0.05%	–
PNC	New	PNC Finl Svcs Group	$157,000	–	800	–	0.04%	–
MRK	Sell	Merck & Co Inc New	$154,000	-23.8%	2,050	-21.2%	0.04%	-21.8%
IT	New	Gartner Group Cl A	$146,000	–	482	–	0.04%	–
	New	Vanguard Life Gwth Fdishares	$135,000	–	3,078	–	0.04%	–
BMY	Sell	Bristol-Myers Squibb	$130,000	-48.2%	2,205	-41.2%	0.04%	-46.4%
XLV	New	Sector Healthcare Select Secto	$129,000	–	1,010	–	0.04%	–
NVO	New	Novo Nordisk Spons ADR	$120,000	–	1,250	–	0.03%	–
	New	Johcm Intl Select Fdishares	$117,000	–	3,717	–	0.03%	–
	New	SEI Mkt Gwth Stratishares	$115,000	–	3,778	–	0.03%	–
CSCO	New	Cisco Systems Inc	$109,000	–	2,000	–	0.03%	–
INTC	New	Intel Corp	$111,000	–	2,090	–	0.03%	–
TRV	New	Travelers Cos Inc	$106,000	–	700	–	0.03%	–
BAM	New	Brookfield Asset Mgmt Inc	$102,000	–	1,912	–	0.03%	–
XOM	New	Exxon Mobil Corp	$92,000	–	1,570	–	0.03%	–
ENPH	New	Enphase Energy Inc	$85,000	–	569	–	0.02%	–
MCHP	New	Microchip Technology	$86,000	–	561	–	0.02%	–
V	New	VISA Inc Com Cl A	$84,000	–	375	–	0.02%	–
XLU	New	Utilities Select Sector SPDR	$78,000	–	1,221	–	0.02%	–
LOW	New	Lowes Cos	$76,000	–	375	–	0.02%	–
MMM	New	3M Co	$70,000	–	400	–	0.02%	–
NSC	New	Norfolk Southern Corp	$72,000	–	300	–	0.02%	–
RTX	New	Raytheon Technologies Corp	$66,000	–	765	–	0.02%	–
CNI	Sell	Canadian National Railway Corp	$69,000	-95.6%	595	-96.0%	0.02%	-95.6%
PEP	New	PepsiCo Inc	$65,000	–	435	–	0.02%	–
MCD	New	McDonald's Corp	$64,000	–	265	–	0.02%	–
CVS	New	CVS Health Corp	$63,000	–	740	–	0.02%	–
DHI	Sell	D R Horton Inc	$65,000	-96.9%	778	-96.6%	0.02%	-96.8%
XLF	New	Select Str Finl Select SPDR ET	$59,000	–	1,585	–	0.02%	–
D	New	Dominion Energy Inc	$58,000	–	800	–	0.02%	–
IBM	New	Intl Business Mach	$53,000	–	382	–	0.02%	–
USB	New	US Bancorp Com	$53,000	–	900	–	0.02%	–
KBE	New	SPDR S&P Bank ETFishares	$50,000	–	940	–	0.01%	–
WAT	New	Waters Corp	$50,000	–	140	–	0.01%	–
LULU	New	Lululemon Athletica	$40,000	–	100	–	0.01%	–
PANW	New	Palo Alto Networks	$36,000	–	75	–	0.01%	–
VZ	New	Verizon Communications Inc	$35,000	–	657	–	0.01%	–
MFC	New	Manulife Finl Corp	$37,000	–	1,940	–	0.01%	–
FB	New	Facebook Inc Cl A	$31,000	–	90	–	0.01%	–
	New	Invesco Dev Mkts Fdishares	$31,000	–	594	–	0.01%	–
AJG	New	Arthur J. Gallagher & Co	$30,000	–	200	–	0.01%	–
VAC	New	Marriott Vacations Worldwide	$27,000	–	170	–	0.01%	–
UPS	New	United Parcel Svc Cl B	$30,000	–	167	–	0.01%	–
IVV	New	iShares S&P 500 Value Fdishares	$20,000	–	47	–	0.01%	–
CARR	New	Carrier Global Corp	$21,000	–	415	–	0.01%	–
AZO	New	Autozone	$17,000	–	10	–	0.01%	–
OTIS	New	Otis Worldwide Corp	$17,000	–	212	–	0.01%	–
ETN	New	Eaton Corp PLC	$19,000	–	130	–	0.01%	–
HSIC	New	Henry Schein	$15,000	–	200	–	0.00%	–
QCOM	New	Qualcomm	$10,000	–	75	–	0.00%	–
MSI	New	Motorola Solutions	$12,000	–	50	–	0.00%	–
UNP	Sell	Union Pacific Corp	$10,000	-97.8%	50	-97.6%	0.00%	-97.6%
DOW	New	Dow Inc	$12,000	–	211	–	0.00%	–
VLO	New	Valero Energy Corp New	$12,000	–	165	–	0.00%	–
DLTR	New	Dollar Tree Inc	$11,000	–	120	–	0.00%	–
CTVA	New	Corteva Inc	$9,000	–	211	–	0.00%	–
KO	New	Coca Cola Co	$12,000	–	225	–	0.00%	–
CAT	New	Caterpillar Inc	$10,000	–	50	–	0.00%	–
IJR	New	iShares Core S&P Small Cap ETFishares	$7,000	–	64	–	0.00%	–
FTV	New	Fortive Corp	$7,000	–	102	–	0.00%	–
CTXS	New	Citrix Systems	$8,000	–	75	–	0.00%	–
NOC	New	Northrop Corp	$7,000	–	20	–	0.00%	–
TSLA	New	Tesla Inc	$4,000	–	5	–	0.00%	–
VNT	New	Vontier Corp	$5,000	–	150	–	0.00%	–
T	New	AT & T	$5,000	–	200	–	0.00%	–
HUBB	New	Hubbell Inc	$5,000	–	30	–	0.00%	–
ABB	New	ABB Ltd Spons ADR	$5,000	–	150	–	0.00%	–
CMCSA	New	Comcast Corp Cl A	$0	–	7	–	0.00%	–
PSX	New	Phillips 66	$0	–	1	–	0.00%	–
KHC	New	Kraft Heinz Company	$1,000	–	25	–	0.00%	–
PSA	New	Public Storage Com	$1,000	–	2	–	0.00%	–
CHKP	New	Check Point Software	$0	–	2	–	0.00%	–
CVET	New	Covetrus Inc	$1,000	–	66	–	0.00%	–
LHX	New	L3 Harris	$1,000	–	3	–	0.00%	–
MPC	New	Marathon Pete Corp	$0	–	4	–	0.00%	–
ATRS	Exit	Antares Pharma Inc	$0	–	-25,000	–	-0.03%	–
DBRG	Exit	DigitalBridge Group Inc	$0	–	-15,000	–	-0.03%	–
CDMO	Exit	Avid Bioservices Inc	$0	–	-10,000	–	-0.07%	–
LOGI	Exit	Logitech Intl ADR	$0	–	-10,166	–	-0.34%	–
TFX	Exit	Teleflex	$0	–	-4,183	–	-0.46%	–

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$19,634,000	–	143,357	–	5.38%	–
TSM	New	Taiwan Semiconductor	$14,222,000	–	118,356	–	3.90%	–
ACN	New	Accenture PLC Cl A	$12,699,000	–	43,079	–	3.48%	–
MSFT	New	Microsoft Corp	$11,642,000	–	42,974	–	3.19%	–
ADBE	New	Adobe Inc	$11,072,000	–	18,905	–	3.04%	–
INTU	New	Intuit	$10,079,000	–	20,562	–	2.76%	–
IDXX	New	Idexx Labs	$10,003,000	–	15,839	–	2.74%	–
TMO	New	Thermo Fisher Scientific	$9,330,000	–	18,494	–	2.56%	–
DHR	New	Danaher Corp	$9,330,000	–	34,768	–	2.56%	–
MA	New	Mastercard Worldwide	$9,302,000	–	25,478	–	2.55%	–
GOOGL	New	Alphabet Inc	$8,993,000	–	3,683	–	2.47%	–
NKE	New	Nike Cl B	$8,837,000	–	57,200	–	2.42%	–
APH	New	Amphenol Corp	$8,195,000	–	119,789	–	2.25%	–
ANSS	New	Ansys	$8,178,000	–	23,565	–	2.24%	–
MTD	New	Mettler Toledo Intl	$7,326,000	–	5,288	–	2.01%	–
LH	New	Laboratory Corp	$7,239,000	–	26,242	–	1.98%	–
ABT	New	Abbott Laboratories	$6,952,000	–	59,967	–	1.91%	–
HD	New	Home Depot	$6,822,000	–	21,394	–	1.87%	–
EL	New	Lauder Estee Cos Inc	$6,821,000	–	21,443	–	1.87%	–
TTC	New	Toro Co	$6,699,000	–	60,967	–	1.84%	–
COST	New	Costco Wholesale	$6,583,000	–	16,637	–	1.80%	–
ORLY	New	O'Reilly Automotive New	$5,984,000	–	10,569	–	1.64%	–
SPGI	New	S&P Global Inc	$5,878,000	–	14,320	–	1.61%	–
CHD	New	Church & Dwight	$5,815,000	–	68,241	–	1.59%	–
AON	New	Aon PLC	$5,744,000	–	24,059	–	1.58%	–
ITW	New	Illinois Tool Works	$5,687,000	–	25,437	–	1.56%	–
HON	New	Honeywell	$5,676,000	–	25,878	–	1.56%	–
AMT	New	American Tower Corp	$5,414,000	–	20,041	–	1.48%	–
ROP	New	Roper Technologies Inc	$5,356,000	–	11,391	–	1.47%	–
SHW	New	Sherwin-Williams Co	$5,279,000	–	19,375	–	1.45%	–
AMGN	New	Amgen	$5,179,000	–	21,247	–	1.42%	–
AME	New	Ametek	$5,007,000	–	37,504	–	1.37%	–
ADP	New	Automatic Data Proc	$4,813,000	–	24,234	–	1.32%	–
FISV	New	Fiserv	$4,790,000	–	44,815	–	1.31%	–
MCO	New	Moody's Corp	$4,755,000	–	13,121	–	1.30%	–
MKC	New	McCormick & Co	$4,659,000	–	52,754	–	1.28%	–
CDNS	New	Cadence Design Sys	$4,608,000	–	33,681	–	1.26%	–
APD	New	Air Products & Chemicals	$4,595,000	–	15,973	–	1.26%	–
EW	New	Edward Lifesciences	$4,479,000	–	43,249	–	1.23%	–
BDX	New	Becton Dickinson & Co	$4,296,000	–	17,667	–	1.18%	–
ECL	New	Ecolab	$4,056,000	–	19,693	–	1.11%	–
JPM	New	J P Morgan Chase	$4,049,000	–	26,035	–	1.11%	–
FTNT	New	Fortinet Inc	$3,932,000	–	16,507	–	1.08%	–
CTAS	New	Cintas Corp	$3,815,000	–	9,986	–	1.05%	–
FICO	New	Fair Isaac Corp	$3,510,000	–	6,983	–	0.96%	–
NEE	New	NextEra Energy	$2,897,000	–	39,530	–	0.79%	–
GNRC	New	Generac Hldgs Inc	$2,784,000	–	6,705	–	0.76%	–
ATR	New	Aptargroup	$2,690,000	–	19,098	–	0.74%	–
WCN	New	Waste Connections Inc	$2,668,000	–	22,340	–	0.73%	–
CSGP	New	Costar Group Com	$2,557,000	–	30,870	–	0.70%	–
PYPL	New	Paypal Hldgs Inc	$2,218,000	–	7,608	–	0.61%	–
EQIX	New	Equinix Inc REIT	$2,141,000	–	2,668	–	0.59%	–
BCPC	New	Balchem Corp	$2,139,000	–	16,296	–	0.59%	–
DHI	New	D R Horton Inc	$2,075,000	–	22,965	–	0.57%	–
TMUS	New	T-Mobile US Inc	$2,048,000	–	14,140	–	0.56%	–
SEDG	New	Solaredge Tech	$2,046,000	–	7,403	–	0.56%	–
UNH	New	UnitedHealth Grp	$1,975,000	–	4,932	–	0.54%	–
AMZN	New	Amazon.com	$1,923,000	–	559	–	0.53%	–
SBUX	New	Starbucks Corp	$1,905,000	–	17,037	–	0.52%	–
GRMN	New	Garmin Ltd	$1,786,000	–	12,351	–	0.49%	–
TFX	New	Teleflex	$1,681,000	–	4,183	–	0.46%	–
LRCX	New	Lam Research Corp	$1,669,000	–	2,565	–	0.46%	–
CNI	New	Canadian National Railway Corp	$1,579,000	–	14,968	–	0.43%	–
TROW	New	TRPrice Assoc	$1,569,000	–	7,925	–	0.43%	–
AKAM	New	Akamai Technologies Inc	$1,554,000	–	13,327	–	0.43%	–
LOGI	New	Logitech Intl ADR	$1,229,000	–	10,166	–	0.34%	–
PAYX	New	Paychex	$599,000	–	5,585	–	0.16%	–
EXR	New	Extra Space Storage	$546,000	–	3,334	–	0.15%	–
JNJ	New	Johnson & Johnson	$482,000	–	2,923	–	0.13%	–
UNP	New	Union Pacific Corp	$450,000	–	2,048	–	0.12%	–
CVX	New	Chevron Texaco Corp	$391,000	–	3,731	–	0.11%	–
BRKB	New	Berkshire Hathaway Cl B	$292,000	–	1,050	–	0.08%	–
CLX	New	Clorox Co	$272,000	–	1,510	–	0.08%	–
MAR	New	Marriott Intl New Cl A	$262,000	–	1,918	–	0.07%	–
CDMO	New	Avid Bioservices Inc	$256,000	–	10,000	–	0.07%	–
BMY	New	Bristol-Myers Squibb	$251,000	–	3,750	–	0.07%	–
MRK	New	Merck & Co New	$202,000	–	2,601	–	0.06%	–
DBRG	New	DigitalBridge Group Inc	$118,000	–	15,000	–	0.03%	–
ATRS	New	Antares Pharma Inc	$109,000	–	25,000	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
AMZN	Exit	Amazon.com	$0	–	-69	–	-0.07%	–
EXR	Exit	Extra Space Storage	$0	–	-2,040	–	-0.07%	–
	Exit	SEI Mkt Gwth Stratishares	$0	–	-10,123	–	-0.08%	–
BRKB	Exit	Berkshire Hathaway Cl B	$0	–	-1,150	–	-0.08%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-4,475	–	-0.09%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-3,731	–	-0.09%	–
MRK	Exit	Merck & Co New	$0	–	-4,275	–	-0.12%	–
CLX	Exit	Clorox Co	$0	–	-1,825	–	-0.13%	–
UNP	Exit	Union Pacific Corp	$0	–	-2,130	–	-0.14%	–
PAYX	Exit	Paychex	$0	–	-5,859	–	-0.16%	–
JNJ	Exit	Johnson & Johnson	$0	–	-3,250	–	-0.16%	–
ENPH	Exit	Enphase Energy Inc	$0	–	-6,791	–	-0.19%	–
CSGP	Exit	Costar Group Com	$0	–	-808	–	-0.23%	–
AZO	Exit	Autozone	$0	–	-763	–	-0.30%	–
TROW	Exit	TRPrice Assoc	$0	–	-7,925	–	-0.34%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-12,149	–	-0.44%	–
WCN	Exit	Waste Connections Inc	$0	–	-16,190	–	-0.57%	–
SEDG	Exit	Solaredge Tech	$0	–	-7,199	–	-0.58%	–
VZ	Exit	Verizon Communication	$0	–	-31,267	–	-0.63%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-43,448	–	-0.68%	–
SPGI	Exit	S&P Global Inc	$0	–	-5,662	–	-0.69%	–
ATR	Exit	Aptargroup	$0	–	-18,464	–	-0.71%	–
JPM	Exit	J P Morgan Chase	$0	–	-27,514	–	-0.90%	–
NEE	Exit	NextEra Energy	$0	–	-9,703	–	-0.91%	–
FICO	Exit	Fair Isaac Corp	$0	–	-6,829	–	-0.98%	–
CTAS	Exit	Cintas Corp	$0	–	-9,254	–	-1.04%	–
LHX	Exit	L3 Harris	$0	–	-18,601	–	-1.07%	–
ADP	Exit	Automatic Data Proc	$0	–	-23,594	–	-1.11%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-7,274	–	-1.13%	–
SBUX	Exit	Starbucks Corp	$0	–	-39,713	–	-1.15%	–
EW	Exit	Edward Lifesciences	$0	–	-45,270	–	-1.22%	–
MCO	Exit	Moody's Corp	$0	–	-13,174	–	-1.29%	–
INTC	Exit	Intel Corp	$0	–	-73,917	–	-1.29%	–
UNH	Exit	UnitedHealth Grp	$0	–	-12,650	–	-1.33%	–
AME	Exit	Ametek	$0	–	-41,344	–	-1.39%	–
EL	Exit	Lauder Estee Cos Inc	$0	–	-19,588	–	-1.44%	–
SHW	Exit	Sherwin-Williams Co	$0	–	-6,274	–	-1.48%	–
HON	Exit	Honeywell	$0	–	-26,835	–	-1.49%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-20,455	–	-1.61%	–
ITW	Exit	Illinois Tool Works	$0	–	-24,883	–	-1.62%	–
LH	Exit	Laboratory Corp	$0	–	-25,996	–	-1.65%	–
AMT	Exit	American Tower Corp	$0	–	-20,322	–	-1.66%	–
ROP	Exit	Roper Technologies Inc	$0	–	-12,590	–	-1.68%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-5,308	–	-1.73%	–
TTC	Exit	Toro Co	$0	–	-61,268	–	-1.74%	–
ECL	Exit	Ecolab	$0	–	-26,200	–	-1.77%	–
AON	Exit	Aon PLC	$0	–	-25,617	–	-1.78%	–
APD	Exit	Air Products & Chemicals	$0	–	-17,823	–	-1.79%	–
FISV	Exit	Fiserv	$0	–	-53,647	–	-1.87%	–
COST	Exit	Costco Wholesale	$0	–	-16,260	–	-1.95%	–
MKC	Exit	McCormick & Co	$0	–	-30,771	–	-2.02%	–
HD	Exit	Home Depot	$0	–	-21,993	–	-2.06%	–
CHD	Exit	Church & Dwight	$0	–	-68,186	–	-2.16%	–
GOOGL	Exit	Alphabet Inc	$0	–	-4,367	–	-2.16%	–
ABT	Exit	Abbott Laboratories	$0	–	-59,237	–	-2.18%	–
APH	Exit	Amphenol Corp	$0	–	-59,700	–	-2.18%	–
AMGN	Exit	Amgen	$0	–	-25,742	–	-2.21%	–
INTU	Exit	Intuit	$0	–	-21,626	–	-2.38%	–
NKE	Exit	Nike Cl B	$0	–	-58,119	–	-2.46%	–
IDXX	Exit	Idexx Labs	$0	–	-19,400	–	-2.58%	–
DHR	Exit	Danaher Corp	$0	–	-35,526	–	-2.58%	–
ANSS	Exit	Ansys	$0	–	-24,499	–	-2.71%	–
MA	Exit	Mastercard Worldwide	$0	–	-25,695	–	-2.94%	–
ADBE	Exit	Adobe Inc	$0	–	-19,395	–	-3.21%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-42,538	–	-3.25%	–
MSFT	Exit	Microsoft Corp	$0	–	-45,798	–	-3.25%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-23,737	–	-3.54%	–
TSM	Exit	Taiwan Semiconductor	$0	–	-134,803	–	-3.69%	–
AAPL	Exit	Apple Computer	$0	–	-147,801	–	-5.78%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Computer	$17,117,000	+16.1%	147,801	+265.6%	5.78%	+6.4%
TSM	Sell	Taiwan Semiconductor	$10,928,000	+40.7%	134,803	-1.5%	3.69%	+28.9%
TMO	Sell	Thermo Fisher Scientific	$10,480,000	+18.2%	23,737	-3.0%	3.54%	+8.3%
MSFT	Buy	Microsoft Corp	$9,633,000	+5.0%	45,798	+1.6%	3.25%	-3.8%
ACN	Sell	Accenture PLC Cl A	$9,613,000	+4.9%	42,538	-0.3%	3.25%	-3.9%
ADBE	Sell	Adobe Inc	$9,512,000	+6.9%	19,395	-5.1%	3.21%	-2.0%
MA	Sell	Mastercard Worldwide	$8,689,000	+10.0%	25,695	-3.8%	2.94%	+0.8%
ANSS	Sell	Ansys	$8,017,000	+11.7%	24,499	-0.5%	2.71%	+2.3%
DHR	Buy	Danaher Corp	$7,650,000	+22.1%	35,526	+0.3%	2.58%	+11.9%
IDXX	Sell	Idexx Labs	$7,626,000	+9.9%	19,400	-7.7%	2.58%	+0.7%
NKE	Sell	Nike Cl B	$7,296,000	+26.1%	58,119	-1.5%	2.46%	+15.5%
INTU	Sell	Intuit	$7,055,000	+7.0%	21,626	-2.9%	2.38%	-2.0%
AMGN	Sell	Amgen	$6,543,000	+7.5%	25,742	-0.2%	2.21%	-1.5%
APH	Buy	Amphenol Corp	$6,464,000	+14.9%	59,700	+1.7%	2.18%	+5.3%
ABT	Buy	Abbott Laboratories	$6,447,000	+19.7%	59,237	+0.5%	2.18%	+9.7%
GOOGL	Sell	Alphabet Inc	$6,400,000	-5.8%	4,367	-8.8%	2.16%	-13.6%
CHD	Sell	Church & Dwight	$6,390,000	+14.8%	68,186	-5.3%	2.16%	+5.2%
HD	Sell	Home Depot	$6,108,000	+7.4%	21,993	-3.2%	2.06%	-1.6%
MKC	Sell	McCormick & Co	$5,973,000	+6.2%	30,771	-1.9%	2.02%	-2.7%
COST	Sell	Costco Wholesale	$5,772,000	+14.0%	16,260	-2.7%	1.95%	+4.4%
FISV	Sell	Fiserv	$5,528,000	+2.3%	53,647	-3.1%	1.87%	-6.3%
APD	Sell	Air Products & Chemicals	$5,309,000	+21.7%	17,823	-1.3%	1.79%	+11.5%
AON	Sell	Aon PLC	$5,285,000	+6.7%	25,617	-0.4%	1.78%	-2.2%
ECL	Sell	Ecolab	$5,236,000	-14.1%	26,200	-14.5%	1.77%	-21.3%
TTC	Sell	Toro Co	$5,143,000	+22.5%	61,268	-3.2%	1.74%	+12.2%
MTD	Sell	Mettler Toledo Intl	$5,126,000	+19.0%	5,308	-0.7%	1.73%	+9.1%
ROP	Sell	Roper Technologies Inc	$4,974,000	-0.7%	12,590	-2.4%	1.68%	-9.0%
AMT	Sell	American Tower Corp	$4,912,000	-8.9%	20,322	-2.6%	1.66%	-16.5%
LH	Sell	Laboratory Corp	$4,894,000	+10.8%	25,996	-2.2%	1.65%	+1.5%
ITW	Buy	Illinois Tool Works	$4,808,000	+12.5%	24,883	+1.8%	1.62%	+3.0%
BDX	Sell	Becton Dickinson & Co	$4,759,000	-4.0%	20,455	-1.3%	1.61%	-12.0%
HON	Sell	Honeywell	$4,417,000	+0.9%	26,835	-11.4%	1.49%	-7.6%
SHW	Sell	Sherwin-Williams Co	$4,371,000	-7.0%	6,274	-22.9%	1.48%	-14.8%
EL	Sell	Lauder Estee Cos Inc	$4,275,000	+15.2%	19,588	-0.4%	1.44%	+5.6%
AME	Buy	Ametek	$4,110,000	+13.1%	41,344	+1.6%	1.39%	+3.6%
UNH	Buy	UnitedHealth Grp	$3,944,000	+7.2%	12,650	+1.4%	1.33%	-1.8%
INTC	Sell	Intel Corp	$3,827,000	-30.1%	73,917	-19.2%	1.29%	-35.9%
MCO	Sell	Moody's Corp	$3,818,000	+4.7%	13,174	-0.8%	1.29%	-4.1%
EW	Buy	Edward Lifesciences	$3,613,000	+21.3%	45,270	+5.1%	1.22%	+11.1%
SBUX	Sell	Starbucks Corp	$3,412,000	+10.7%	39,713	-5.2%	1.15%	+1.5%
ORLY	Sell	O'Reilly Automotive New	$3,354,000	+9.1%	7,274	-0.2%	1.13%	0.0%
ADP	Sell	Automatic Data Proc	$3,291,000	-30.9%	23,594	-26.2%	1.11%	-36.6%
LHX	Sell	L3 Harris	$3,159,000	-14.3%	18,601	-14.3%	1.07%	-21.4%
CTAS	Buy	Cintas Corp	$3,080,000	+66.2%	9,254	+33.0%	1.04%	+52.3%
FICO	Buy	Fair Isaac Corp	$2,905,000	+6.6%	6,829	+4.8%	0.98%	-2.3%
NEE	Sell	NextEra Energy	$2,693,000	+13.3%	9,703	-1.9%	0.91%	+3.9%
JPM	Sell	J P Morgan Chase	$2,649,000	-6.1%	27,514	-8.3%	0.90%	-13.9%
ATR	New	Aptargroup	$2,090,000	–	18,464	–	0.71%	–
SPGI	Buy	S&P Global Inc	$2,042,000	+22.0%	5,662	+11.4%	0.69%	+11.8%
CMCSA	Sell	Comcast Corp Cl A	$2,010,000	+0.9%	43,448	-15.0%	0.68%	-7.6%
VZ	Sell	Verizon Communication	$1,860,000	+7.3%	31,267	-0.6%	0.63%	-1.7%
SEDG	Buy	Solaredge Tech	$1,716,000	+88.8%	7,199	+9.9%	0.58%	+73.1%
WCN	Buy	Waste Connections Inc	$1,681,000	+44.9%	16,190	+30.9%	0.57%	+32.7%
CNI	Sell	Canadian National Railway Corp	$1,293,000	+14.8%	12,149	-4.4%	0.44%	+5.3%
TROW	Sell	TRPrice Assoc	$1,016,000	-5.1%	7,925	-8.6%	0.34%	-13.2%
AZO	Sell	Autozone	$899,000	-2.8%	763	-7.0%	0.30%	-10.9%
CSGP	Buy	Costar Group Com	$686,000	+58.1%	808	+32.2%	0.23%	+45.0%
ENPH	New	Enphase Energy Inc	$561,000	–	6,791	–	0.19%	–
JNJ	Sell	Johnson & Johnson	$484,000	-20.3%	3,250	-24.7%	0.16%	-27.2%
PAYX	Sell	Paychex	$467,000	+4.7%	5,859	-0.4%	0.16%	-3.7%
UNP	Sell	Union Pacific Corp	$419,000	+15.4%	2,130	-0.7%	0.14%	+6.0%
MRK	Sell	Merck & Co New	$355,000	-6.8%	4,275	-13.2%	0.12%	-14.3%
CVX	Sell	Chevron Texaco Corp	$269,000	-72.0%	3,731	-65.4%	0.09%	-74.3%
BMY	Sell	Bristol-Myers Squibb	$270,000	+1.9%	4,475	-0.6%	0.09%	-7.1%
BRKB	New	Berkshire Hathaway Cl B	$245,000	–	1,150	–	0.08%	–
	New	SEI Mkt Gwth Stratishares	$245,000	–	10,123	–	0.08%	–
EXR	Sell	Extra Space Storage	$218,000	-0.9%	2,040	-14.5%	0.07%	-8.6%
AMZN	Sell	Amazon.com	$217,000	-27.9%	69	-36.7%	0.07%	-34.2%
NFLX	Exit	Netflix Com	$0	–	-450	–	-0.08%	–
DIS	Exit	Walt Disney Company	$0	–	-2,866	–	-0.12%	–
FDS	Exit	Factset Research System	$0	–	-1,005	–	-0.12%	–
	Exit	USAA Target Retirement 2020 Fdishares	$0	–	-33,033	–	-0.14%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$14,746,000	–	40,422	–	5.44%	–
MSFT	New	Microsoft Corp	$9,177,000	–	45,094	–	3.38%	–
ACN	New	Accenture PLC Cl A	$9,165,000	–	42,683	–	3.38%	–
ADBE	New	Adobe Inc	$8,899,000	–	20,442	–	3.28%	–
TMO	New	Thermo Fisher Scientific	$8,866,000	–	24,469	–	3.27%	–
MA	New	Mastercard Worldwide	$7,896,000	–	26,703	–	2.91%	–
TSM	New	Taiwan Semiconductor	$7,769,000	–	136,859	–	2.86%	–
ANSS	New	Ansys	$7,180,000	–	24,613	–	2.65%	–
IDXX	New	Idexx Labs	$6,942,000	–	21,027	–	2.56%	–
GOOGL	New	Alphabet Inc	$6,791,000	–	4,789	–	2.50%	–
INTU	New	Intuit	$6,595,000	–	22,267	–	2.43%	–
DHR	New	Danaher Corp	$6,264,000	–	35,426	–	2.31%	–
ECL	New	Ecolab	$6,096,000	–	30,640	–	2.25%	–
AMGN	New	Amgen	$6,085,000	–	25,800	–	2.24%	–
NKE	New	Nike Cl B	$5,788,000	–	59,033	–	2.13%	–
HD	New	Home Depot	$5,689,000	–	22,710	–	2.10%	–
APH	New	Amphenol Corp	$5,626,000	–	58,724	–	2.07%	–
MKC	New	McCormick & Co	$5,626,000	–	31,357	–	2.07%	–
CHD	New	Church & Dwight	$5,567,000	–	72,018	–	2.05%	–
INTC	New	Intel Corp	$5,472,000	–	91,452	–	2.02%	–
FISV	New	Fiserv	$5,405,000	–	55,369	–	1.99%	–
AMT	New	American Tower Corp	$5,393,000	–	20,858	–	1.99%	–
ABT	New	Abbott Laboratories	$5,388,000	–	58,930	–	1.99%	–
COST	New	Costco Wholesale	$5,065,000	–	16,706	–	1.87%	–
ROP	New	Roper Technologies Inc	$5,010,000	–	12,904	–	1.85%	–
BDX	New	Becton Dickinson & Co	$4,957,000	–	20,719	–	1.83%	–
AON	New	Aon PLC	$4,955,000	–	25,728	–	1.83%	–
ADP	New	Automatic Data Proc	$4,761,000	–	31,975	–	1.76%	–
SHW	New	Sherwin-Williams Co	$4,701,000	–	8,136	–	1.73%	–
LH	New	Laboratory Corp	$4,416,000	–	26,583	–	1.63%	–
HON	New	Honeywell	$4,379,000	–	30,288	–	1.61%	–
APD	New	Air Products & Chemicals	$4,362,000	–	18,065	–	1.61%	–
MTD	New	Mettler Toledo Intl	$4,306,000	–	5,345	–	1.59%	–
ITW	New	Illinois Tool Works	$4,275,000	–	24,447	–	1.58%	–
TTC	New	Toro Co	$4,200,000	–	63,311	–	1.55%	–
EL	New	Lauder Estee Cos Inc	$3,711,000	–	19,666	–	1.37%	–
LHX	New	L3 Harris	$3,684,000	–	21,713	–	1.36%	–
UNH	New	UnitedHealth Grp	$3,678,000	–	12,470	–	1.36%	–
MCO	New	Moody's Corp	$3,648,000	–	13,280	–	1.34%	–
AME	New	Ametek	$3,635,000	–	40,677	–	1.34%	–
SBUX	New	Starbucks Corp	$3,082,000	–	41,877	–	1.14%	–
ORLY	New	O'Reilly Automotive New	$3,073,000	–	7,288	–	1.13%	–
EW	New	Edward Lifesciences	$2,978,000	–	43,091	–	1.10%	–
JPM	New	J P Morgan Chase	$2,822,000	–	30,001	–	1.04%	–
FICO	New	Fair Isaac Corp	$2,724,000	–	6,516	–	1.00%	–
NEE	New	NextEra Energy	$2,376,000	–	9,892	–	0.88%	–
CMCSA	New	Comcast Corp Cl A	$1,993,000	–	51,123	–	0.74%	–
CTAS	New	Cintas Corp	$1,853,000	–	6,957	–	0.68%	–
VZ	New	Verizon Communication	$1,734,000	–	31,446	–	0.64%	–
SPGI	New	S&P Global Inc	$1,674,000	–	5,082	–	0.62%	–
WCN	New	Waste Connections Inc	$1,160,000	–	12,365	–	0.43%	–
CNI	New	Canadian National Railway Corp	$1,126,000	–	12,713	–	0.42%	–
TROW	New	TRPrice Assoc	$1,071,000	–	8,675	–	0.40%	–
CVX	New	Chevron Texaco Corp	$961,000	–	10,774	–	0.35%	–
AZO	New	Autozone	$925,000	–	820	–	0.34%	–
SEDG	New	Solaredge Tech	$909,000	–	6,553	–	0.34%	–
JNJ	New	Johnson & Johnson	$607,000	–	4,314	–	0.22%	–
PAYX	New	Paychex	$446,000	–	5,884	–	0.16%	–
CSGP	New	Costar Group Com	$434,000	–	611	–	0.16%	–
CLX	New	Clorox Co	$400,000	–	1,825	–	0.15%	–
	New	USAA Target Retirement 2020 Fdishares	$383,000	–	33,033	–	0.14%	–
MRK	New	Merck & Co New	$381,000	–	4,924	–	0.14%	–
UNP	New	Union Pacific Corp	$363,000	–	2,145	–	0.13%	–
FDS	New	Factset Research System	$330,000	–	1,005	–	0.12%	–
DIS	New	Walt Disney Company	$320,000	–	2,866	–	0.12%	–
AMZN	New	Amazon.com	$301,000	–	109	–	0.11%	–
BMY	New	Bristol-Myers Squibb	$265,000	–	4,500	–	0.10%	–
EXR	New	Extra Space Storage	$220,000	–	2,386	–	0.08%	–
NFLX	New	Netflix Com	$205,000	–	450	–	0.08%	–

Q4 2019

			Value		Shares		↓ Weighting
GOOG	Exit	Alphabet Inc Cl C	$0	–	-195	–	-0.09%	–
BRKB	Exit	Berkshire Hathaway Cl B	$0	–	-1,160	–	-0.09%	–
PNC	Exit	PNC Bk Corp	$0	–	-1,745	–	-0.09%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-5,050	–	-0.09%	–
FDS	Exit	Factset Research System	$0	–	-1,140	–	-0.10%	–
CSGP	Exit	Costar Group Com	$0	–	-476	–	-0.10%	–
EXR	Exit	Extra Space Storage	$0	–	-2,429	–	-0.10%	–
UNP	Exit	Union Pacific Corp	$0	–	-1,810	–	-0.11%	–
	Exit	Amer Fds Wash Mutualishares	$0	–	-6,555	–	-0.11%	–
CLX	Exit	Clorox Co	$0	–	-2,125	–	-0.12%	–
AMZN	Exit	Amazon.com	$0	–	-189	–	-0.12%	–
DIS	Exit	Walt Disney Company	$0	–	-3,266	–	-0.16%	–
PAYX	Exit	Paychex	$0	–	-5,609	–	-0.17%	–
MRK	Exit	Merck & Co New	$0	–	-5,524	–	-0.17%	–
JNJ	Exit	Johnson & Johnson	$0	–	-5,089	–	-0.24%	–
PSA	Exit	Public Storage Com	$0	–	-3,472	–	-0.31%	–
AZO	Exit	Autozone	$0	–	-844	–	-0.34%	–
TROW	Exit	TRPrice Assoc	$0	–	-8,997	–	-0.38%	–
FICO	Exit	Fair Isaac Corp	$0	–	-4,192	–	-0.47%	–
MAR	Exit	Marriott Intl New Cl A	$0	–	-11,731	–	-0.54%	–
VZ	Exit	Verizon Communication	$0	–	-28,901	–	-0.64%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-20,375	–	-0.67%	–
MPC	Exit	Marathon Pete Corp	$0	–	-30,128	–	-0.67%	–
EL	Exit	Lauder Estee Cos Inc	$0	–	-9,862	–	-0.72%	–
HSIC	Exit	Henry Schein	$0	–	-32,026	–	-0.75%	–
NEE	Exit	NextEra Energy	$0	–	-9,079	–	-0.78%	–
MCO	Exit	Moody's Corp	$0	–	-12,403	–	-0.94%	–
PSX	Exit	Phillips 66	$0	–	-25,199	–	-0.95%	–
UNH	Exit	UnitedHealth Grp	$0	–	-12,141	–	-0.97%	–
JPM	Exit	J P Morgan Chase	$0	–	-26,252	–	-1.14%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-26,353	–	-1.15%	–
FTV	Exit	Fortive Corp	$0	–	-46,007	–	-1.16%	–
CHKP	Exit	Check Point Software	$0	–	-30,882	–	-1.24%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-9,219	–	-1.35%	–
SBUX	Exit	Starbucks Corp	$0	–	-41,676	–	-1.36%	–
ITW	Exit	Illinois Tool Works	$0	–	-23,886	–	-1.38%	–
IT	Exit	Gartner Group Cl A	$0	–	-26,314	–	-1.38%	–
AME	Exit	Ametek	$0	–	-43,385	–	-1.47%	–
LH	Exit	Laboratory Corp	$0	–	-26,122	–	-1.62%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-6,262	–	-1.62%	–
APD	Exit	Air Products & Chemicals	$0	–	-19,957	–	-1.63%	–
LHX	Exit	L3 Harris	$0	–	-21,803	–	-1.67%	–
NKE	Exit	Nike Cl B	$0	–	-48,738	–	-1.68%	–
AMT	Exit	American Tower Corp.	$0	–	-21,114	–	-1.72%	–
TTC	Exit	Toro Co	$0	–	-64,207	–	-1.73%	–
INTC	Exit	Intel Corp	$0	–	-91,651	–	-1.74%	–
AON	Exit	Aon PLC	$0	–	-25,054	–	-1.78%	–
ABT	Exit	Abbott Laboratories	$0	–	-58,060	–	-1.79%	–
SHW	Exit	Sherwin-Williams Co	$0	–	-8,874	–	-1.80%	–
COST	Exit	Costco Wholesale	$0	–	-17,141	–	-1.82%	–
ADBE	Exit	Adobe Inc	$0	–	-18,509	–	-1.88%	–
HD	Exit	Home Depot	$0	–	-22,372	–	-1.91%	–
HON	Exit	Honeywell	$0	–	-31,309	–	-1.95%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-21,026	–	-1.96%	–
MKC	Exit	McCormick & Co	$0	–	-34,675	–	-2.00%	–
AMGN	Exit	Amgen	$0	–	-28,302	–	-2.02%	–
CHD	Exit	Church & Dwight	$0	–	-73,103	–	-2.02%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-123,908	–	-2.06%	–
IDXX	Exit	Idexx Labs	$0	–	-20,944	–	-2.10%	–
FISV	Exit	Fiserv	$0	–	-55,428	–	-2.11%	–
INTU	Exit	Intuit	$0	–	-21,949	–	-2.15%	–
GOOGL	Exit	Alphabet Inc	$0	–	-4,914	–	-2.21%	–
ECL	Exit	Ecolab	$0	–	-31,216	–	-2.28%	–
ROP	Exit	Roper Technologies Inc	$0	–	-17,526	–	-2.30%	–
APH	Exit	Amphenol Corp	$0	–	-65,715	–	-2.33%	–
MSFT	Exit	Microsoft Corp	$0	–	-47,148	–	-2.41%	–
DHR	Exit	Danaher Corp	$0	–	-45,902	–	-2.44%	–
ADP	Exit	Automatic Data Proc	$0	–	-41,582	–	-2.47%	–
TSM	Exit	Taiwan Semiconductor	$0	–	-144,894	–	-2.48%	–
ANSS	Exit	Ansys	$0	–	-31,772	–	-2.59%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-26,928	–	-2.89%	–
MA	Exit	Mastercard Worldwide	$0	–	-29,445	–	-2.94%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-45,175	–	-3.20%	–
AAPL	Exit	Apple Computer	$0	–	-49,564	–	-4.09%	–

Q3 2019

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Computer	$11,101,000	+21.9%	49,564	+7.7%	4.09%	+18.9%
ACN	Sell	Accenture PLC Cl A	$8,689,000	+1.1%	45,175	-2.9%	3.20%	-1.4%
MA	Sell	Mastercard Worldwide	$7,996,000	+2.6%	29,445	-0.0%	2.94%	+0.0%
TMO	Sell	Thermo Fisher Scientific	$7,843,000	-3.1%	26,928	-2.3%	2.89%	-5.5%
ANSS	Sell	Ansys	$7,033,000	+7.4%	31,772	-0.7%	2.59%	+4.7%
TSM	Buy	Taiwan Semiconductor	$6,735,000	+19.6%	144,894	+0.8%	2.48%	+16.6%
ADP	Sell	Automatic Data Proc	$6,712,000	-2.8%	41,582	-0.5%	2.47%	-5.3%
DHR	Sell	Danaher Corp	$6,630,000	+0.6%	45,902	-0.4%	2.44%	-1.9%
MSFT	Buy	Microsoft Corp	$6,555,000	+8.1%	47,148	+4.2%	2.41%	+5.5%
APH	Buy	Amphenol Corp	$6,341,000	+0.9%	65,715	+0.3%	2.33%	-1.6%
ROP	Sell	Roper Technologies Inc	$6,250,000	-4.8%	17,526	-2.2%	2.30%	-7.2%
ECL	Sell	Ecolab	$6,182,000	-0.3%	31,216	-0.6%	2.28%	-2.8%
GOOGL	Buy	Alphabet Inc	$6,001,000	+13.4%	4,914	+0.6%	2.21%	+10.6%
INTU	Sell	Intuit	$5,837,000	+1.7%	21,949	-0.1%	2.15%	-0.9%
FISV	Sell	Fiserv	$5,742,000	+10.2%	55,428	-3.0%	2.11%	+7.4%
IDXX	Sell	Idexx Labs	$5,695,000	-8.2%	20,944	-7.1%	2.10%	-10.5%
CMCSA	Sell	Comcast Corp Cl A	$5,586,000	+6.3%	123,908	-0.3%	2.06%	+3.6%
CHD	Sell	Church & Dwight	$5,500,000	+1.5%	73,103	-1.4%	2.02%	-1.1%
AMGN	Sell	Amgen	$5,477,000	-3.5%	28,302	-8.1%	2.02%	-5.9%
MKC	Buy	McCormick & Co	$5,420,000	+1.2%	34,675	+0.4%	2.00%	-1.3%
BDX	Buy	Becton Dickinson & Co	$5,319,000	+0.6%	21,026	+0.2%	1.96%	-2.0%
HON	Buy	Honeywell	$5,297,000	-3.0%	31,309	+0.1%	1.95%	-5.4%
HD	Buy	Home Depot	$5,191,000	+11.6%	22,372	+0.0%	1.91%	+8.9%
ADBE	Buy	Adobe Inc	$5,113,000	-5.2%	18,509	+1.1%	1.88%	-7.6%
COST	Sell	Costco Wholesale	$4,938,000	+8.5%	17,141	-0.5%	1.82%	+5.8%
SHW	Sell	Sherwin-Williams Co	$4,880,000	+19.2%	8,874	-0.6%	1.80%	+16.2%
ABT	Buy	Abbott Laboratories	$4,858,000	+3.3%	58,060	+3.8%	1.79%	+0.7%
AON	Buy	Aon PLC	$4,850,000	+1.1%	25,054	+0.8%	1.78%	-1.4%
INTC	Buy	Intel Corp	$4,723,000	+7.8%	91,651	+0.2%	1.74%	+5.1%
TTC	Buy	Toro Co	$4,706,000	+10.4%	64,207	+0.8%	1.73%	+7.7%
AMT	Sell	American Tower Corp.	$4,669,000	+7.3%	21,114	-0.8%	1.72%	+4.6%
NKE	Buy	Nike Cl B	$4,577,000	+12.7%	48,738	+0.8%	1.68%	+9.9%
LHX	New	L3 Harris	$4,549,000	–	21,803	–	1.67%	–
APD	Sell	Air Products & Chemicals	$4,428,000	-2.4%	19,957	-0.4%	1.63%	-4.8%
MTD	Sell	Mettler Toledo Intl	$4,411,000	-20.5%	6,262	-5.2%	1.62%	-22.5%
LH	Buy	Laboratory Corp	$4,388,000	-2.5%	26,122	+0.3%	1.62%	-4.9%
AME	Buy	Ametek	$3,984,000	+1.2%	43,385	+0.2%	1.47%	-1.3%
IT	Buy	Gartner Group Cl A	$3,763,000	-8.5%	26,314	+3.0%	1.38%	-10.8%
ITW	Buy	Illinois Tool Works	$3,738,000	+4.6%	23,886	+0.8%	1.38%	+2.0%
SBUX	Buy	Starbucks Corp	$3,685,000	+5.6%	41,676	+0.1%	1.36%	+2.9%
ORLY	Sell	O'Reilly Automotive New	$3,674,000	+6.2%	9,219	-1.6%	1.35%	+3.5%
CHKP	Sell	Check Point Software	$3,382,000	-18.8%	30,882	-14.2%	1.24%	-20.8%
FTV	Sell	Fortive Corp	$3,154,000	-23.5%	46,007	-9.1%	1.16%	-25.4%
CVX	Sell	Chevron Texaco Corp	$3,125,000	-15.0%	26,353	-10.8%	1.15%	-17.1%
JPM	Buy	J P Morgan Chase	$3,090,000	+7.4%	26,252	+2.0%	1.14%	+4.7%
UNH	Buy	UnitedHealth Grp	$2,638,000	-10.1%	12,141	+1.0%	0.97%	-12.4%
PSX	Sell	Phillips 66	$2,580,000	+8.9%	25,199	-0.5%	0.95%	+6.3%
MCO	Buy	Moody's Corp	$2,541,000	+5.7%	12,403	+0.8%	0.94%	+3.1%
NEE	Sell	NextEra Energy	$2,115,000	+10.6%	9,079	-2.8%	0.78%	+7.8%
HSIC	Buy	Henry Schein	$2,034,000	-7.4%	32,026	+1.9%	0.75%	-9.7%
EL	Buy	Lauder Estee Cos Inc	$1,962,000	+13.5%	9,862	+4.5%	0.72%	+10.7%
CNI	Buy	Canadian National Railway Corp	$1,831,000	-2.2%	20,375	+0.6%	0.67%	-4.7%
MPC	Sell	Marathon Pete Corp	$1,830,000	-21.0%	30,128	-27.3%	0.67%	-23.0%
VZ	Buy	Verizon Communication	$1,744,000	+15.9%	28,901	+9.7%	0.64%	+13.0%
MAR	Buy	Marriott Intl New Cl A	$1,459,000	-8.1%	11,731	+3.6%	0.54%	-10.4%
FICO	New	Fair Isaac Corp	$1,272,000	–	4,192	–	0.47%	–
TROW	Buy	TRPrice Assoc	$1,028,000	+4.4%	8,997	+0.2%	0.38%	+1.6%
AZO	Buy	Autozone	$915,000	+4.2%	844	+5.6%	0.34%	+1.8%
JNJ	Buy	Johnson & Johnson	$658,000	-6.3%	5,089	+1.0%	0.24%	-8.7%
PAYX	Buy	Paychex	$464,000	+7.2%	5,609	+6.7%	0.17%	+4.9%
MRK	Buy	Merck & Co New	$465,000	+9.9%	5,524	+9.4%	0.17%	+6.9%
DIS	Buy	Walt Disney Company	$426,000	+72.5%	3,266	+84.4%	0.16%	+68.8%
AMZN	New	Amazon.com	$328,000	–	189	–	0.12%	–
	Sell	Amer Fds Wash Mutualishares	$303,000	-20.5%	6,555	-21.1%	0.11%	-22.2%
UNP	Buy	Union Pacific Corp	$293,000	-3.0%	1,810	+1.4%	0.11%	-5.3%
EXR	Buy	Extra Space Storage	$284,000	+29.7%	2,429	+17.5%	0.10%	+26.5%
CSGP	New	Costar Group Com	$282,000	–	476	–	0.10%	–
FDS	Sell	Factset Research System	$277,000	-17.1%	1,140	-2.1%	0.10%	-19.0%
BMY	Sell	Bristol-Myers Squibb	$256,000	+7.6%	5,050	-3.8%	0.09%	+4.4%
PNC	Buy	PNC Bk Corp	$245,000	+13.4%	1,745	+10.8%	0.09%	+9.8%
BRKB	Buy	Berkshire Hathaway Cl B	$241,000	+12.1%	1,160	+14.9%	0.09%	+9.9%
GOOG	New	Alphabet Inc Cl C	$238,000	–	195	–	0.09%	–
CTSH	Exit	Cognizant Tech	$0	–	-8,185	–	-0.20%	–
HRS	Exit	Harris Corp	$0	–	-22,810	–	-1.63%	–

Q2 2019

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$9,106,000	–	46,010	–	3.44%	–
ACN	New	Accenture PLC Cl A	$8,596,000	–	46,522	–	3.24%	–
TMO	New	Thermo Fisher Scientific	$8,092,000	–	27,554	–	3.06%	–
MA	New	Mastercard Worldwide	$7,793,000	–	29,458	–	2.94%	–
ADP	New	Automatic Data Proc	$6,907,000	–	41,777	–	2.61%	–
DHR	New	Danaher Corp	$6,588,000	–	46,099	–	2.49%	–
ROP	New	Roper Technologies Inc	$6,566,000	–	17,927	–	2.48%	–
ANSS	New	Ansys	$6,550,000	–	31,981	–	2.47%	–
APH	New	Amphenol Corp	$6,285,000	–	65,513	–	2.37%	–
IDXX	New	Idexx Labs	$6,204,000	–	22,534	–	2.34%	–
ECL	New	Ecolab	$6,202,000	–	31,411	–	2.34%	–
MSFT	New	Microsoft Corp	$6,062,000	–	45,253	–	2.29%	–
INTU	New	Intuit	$5,742,000	–	21,973	–	2.17%	–
AMGN	New	Amgen	$5,676,000	–	30,802	–	2.14%	–
TSM	New	Taiwan Semiconductor	$5,632,000	–	143,779	–	2.13%	–
MTD	New	Mettler Toledo Intl	$5,550,000	–	6,607	–	2.10%	–
HON	New	Honeywell	$5,461,000	–	31,281	–	2.06%	–
CHD	New	Church & Dwight	$5,419,000	–	74,172	–	2.05%	–
ADBE	New	Adobe Inc	$5,394,000	–	18,308	–	2.04%	–
MKC	New	McCormick & Co	$5,354,000	–	34,537	–	2.02%	–
BDX	New	Becton Dickinson & Co	$5,289,000	–	20,989	–	2.00%	–
GOOGL	New	Alphabet Inc	$5,291,000	–	4,886	–	2.00%	–
CMCSA	New	Comcast Corp Cl A	$5,256,000	–	124,316	–	1.98%	–
FISV	New	Fiserv	$5,211,000	–	57,165	–	1.97%	–
AON	New	Aon PLC	$4,796,000	–	24,850	–	1.81%	–
ABT	New	Abbott Laboratories	$4,705,000	–	55,940	–	1.78%	–
HD	New	Home Depot	$4,650,000	–	22,361	–	1.76%	–
COST	New	Costco Wholesale	$4,551,000	–	17,222	–	1.72%	–
APD	New	Air Products & Chemicals	$4,536,000	–	20,036	–	1.71%	–
LH	New	Laboratory Corp	$4,502,000	–	26,040	–	1.70%	–
INTC	New	Intel Corp	$4,381,000	–	91,511	–	1.65%	–
AMT	New	American Tower Corp.	$4,350,000	–	21,275	–	1.64%	–
HRS	New	Harris Corp	$4,314,000	–	22,810	–	1.63%	–
TTC	New	Toro Co	$4,261,000	–	63,687	–	1.61%	–
CHKP	New	Check Point Software	$4,163,000	–	36,010	–	1.57%	–
FTV	New	Fortive Corp	$4,125,000	–	50,605	–	1.56%	–
IT	New	Gartner Group Cl A	$4,111,000	–	25,544	–	1.55%	–
SHW	New	Sherwin-Williams Co	$4,093,000	–	8,932	–	1.54%	–
NKE	New	Nike Cl B	$4,061,000	–	48,375	–	1.53%	–
AME	New	Ametek	$3,935,000	–	43,318	–	1.48%	–
CVX	New	Chevron Texaco Corp	$3,677,000	–	29,545	–	1.39%	–
ITW	New	Illinois Tool Works	$3,573,000	–	23,693	–	1.35%	–
SBUX	New	Starbucks Corp	$3,491,000	–	41,643	–	1.32%	–
ORLY	New	O'Reilly Automotive New	$3,459,000	–	9,365	–	1.31%	–
UNH	New	UnitedHealth Grp	$2,934,000	–	12,026	–	1.11%	–
JPM	New	J P Morgan Chase	$2,878,000	–	25,742	–	1.09%	–
MCO	New	Moody's Corp	$2,404,000	–	12,307	–	0.91%	–
PSX	New	Phillips 66	$2,369,000	–	25,321	–	0.89%	–
MPC	New	Marathon Pete Corp	$2,317,000	–	41,462	–	0.88%	–
HSIC	New	Henry Schein	$2,197,000	–	31,435	–	0.83%	–
NEE	New	NextEra Energy	$1,913,000	–	9,338	–	0.72%	–
CNI	New	Canadian National Railway Corp	$1,873,000	–	20,255	–	0.71%	–
EL	New	Lauder Estee Cos Inc	$1,728,000	–	9,439	–	0.65%	–
MAR	New	Marriott Intl New Cl A	$1,588,000	–	11,321	–	0.60%	–
VZ	New	Verizon Communication	$1,505,000	–	26,336	–	0.57%	–
TROW	New	TRPrice Assoc	$985,000	–	8,975	–	0.37%	–
AZO	New	Autozone	$878,000	–	799	–	0.33%	–
PSA	New	Public Storage Com	$827,000	–	3,472	–	0.31%	–
JNJ	New	Johnson & Johnson	$702,000	–	5,039	–	0.26%	–
CTSH	New	Cognizant Tech	$519,000	–	8,185	–	0.20%	–
PAYX	New	Paychex	$433,000	–	5,259	–	0.16%	–
MRK	New	Merck & Co New	$423,000	–	5,050	–	0.16%	–
	New	Amer Fds Wash Mutualishares	$381,000	–	8,305	–	0.14%	–
FDS	New	Factset Research System	$334,000	–	1,165	–	0.13%	–
CLX	New	Clorox Co	$325,000	–	2,125	–	0.12%	–
UNP	New	Union Pacific Corp	$302,000	–	1,785	–	0.11%	–
DIS	New	Walt Disney Company	$247,000	–	1,771	–	0.09%	–
BMY	New	Bristol-Myers Squibb	$238,000	–	5,250	–	0.09%	–
EXR	New	Extra Space Storage	$219,000	–	2,068	–	0.08%	–
PNC	New	PNC Bk Corp	$216,000	–	1,575	–	0.08%	–
BRKB	New	Berkshire Hathaway Cl B	$215,000	–	1,010	–	0.08%	–

Q4 2018

			Value		Shares		↓ Weighting
VZ	Exit	Verizon Communication	$0	–	-3,811	–	-0.08%	–
EXR	Exit	Extra Space Storage REIT	$0	–	-2,396	–	-0.08%	–
DIS	Exit	Walt Disney Company	$0	–	-1,796	–	-0.08%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-187	–	-0.09%	–
INTC	Exit	Intel Corp	$0	–	-4,819	–	-0.09%	–
BRKB	Exit	Berkshire Hathaway Cl B	$0	–	-1,098	–	-0.09%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-2,800	–	-0.09%	–
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-5,502	–	-0.10%	–
KNX	Exit	Knight-Swift Transn Hldgs	$0	–	-7,775	–	-0.11%	–
CLX	Exit	Clorox Co	$0	–	-2,150	–	-0.13%	–
FDS	Exit	Factset Research System	$0	–	-1,455	–	-0.13%	–
MRK	Exit	Merck & Co New	$0	–	-5,700	–	-0.16%	–
PAYX	Exit	Paychex	$0	–	-6,158	–	-0.18%	–
	Exit	Third Avenue Value Fdishares	$0	–	-10,000	–	-0.19%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-8,760	–	-0.22%	–
AZO	Exit	Autozone	$0	–	-740	–	-0.23%	–
EL	Exit	Lauder Estee Cos Inc	$0	–	-4,032	–	-0.23%	–
NEE	Exit	NextEra Energy	$0	–	-4,010	–	-0.26%	–
JNJ	Exit	Johnson & Johnson	$0	–	-5,267	–	-0.29%	–
PSA	Exit	Public Storage Com	$0	–	-3,745	–	-0.30%	–
AMT	Exit	American Tower Corp.	$0	–	-5,292	–	-0.30%	–
ABT	Exit	Abbott Laboratories	$0	–	-12,450	–	-0.36%	–
MGA	Exit	Magna Intl	$0	–	-18,345	–	-0.38%	–
TROW	Exit	TRPrice Assoc	$0	–	-8,975	–	-0.39%	–
VLO	Exit	Valero Energy Corp New	$0	–	-9,301	–	-0.42%	–
PH	Exit	Parker Hannifin Corp	$0	–	-6,237	–	-0.45%	–
UNH	Exit	UnitedHealth Grp	$0	–	-4,702	–	-0.49%	–
CTSH	Exit	Cognizant Tech	$0	–	-16,494	–	-0.50%	–
PPG	Exit	PPG Industries	$0	–	-11,775	–	-0.51%	–
ADBE	Exit	Adobe Inc	$0	–	-5,018	–	-0.54%	–
MAR	Exit	Marriott Intl New Cl A	$0	–	-10,972	–	-0.57%	–
BLK	Exit	BlackRock Inc	$0	–	-3,342	–	-0.62%	–
MMM	Exit	3M Co	$0	–	-7,589	–	-0.63%	–
EMN	Exit	Eastman Chemical	$0	–	-17,431	–	-0.66%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-21,874	–	-0.78%	–
MCO	Exit	Moody's Corp	$0	–	-12,342	–	-0.81%	–
SBUX	Exit	Starbucks Corp	$0	–	-40,900	–	-0.92%	–
PSX	Exit	Phillips 66	$0	–	-21,236	–	-0.94%	–
JPM	Exit	J P Morgan Chase	$0	–	-22,969	–	-1.02%	–
COST	Exit	Costco Wholesale	$0	–	-13,056	–	-1.21%	–
MSFT	Exit	Microsoft Corp	$0	–	-27,490	–	-1.24%	–
BKNG	Exit	Booking Hldgs Inc	$0	–	-1,623	–	-1.27%	–
IT	Exit	Gartner Group Cl A	$0	–	-20,492	–	-1.28%	–
HSIC	Exit	Henry Schein	$0	–	-38,342	–	-1.29%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-9,722	–	-1.33%	–
ITW	Exit	Illinois Tool Works	$0	–	-24,442	–	-1.36%	–
APD	Exit	Air Products & Chemicals	$0	–	-21,569	–	-1.42%	–
PNC	Exit	PNC Bk Corp	$0	–	-26,658	–	-1.43%	–
AME	Exit	Ametek	$0	–	-46,596	–	-1.45%	–
SHW	Exit	Sherwin-Williams Co	$0	–	-8,303	–	-1.49%	–
AON	Exit	Aon PLC	$0	–	-24,679	–	-1.50%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-31,613	–	-1.52%	–
HRS	Exit	Harris Corp	$0	–	-23,240	–	-1.55%	–
NKE	Exit	Nike Cl B	$0	–	-46,845	–	-1.57%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-113,632	–	-1.59%	–
MPC	Exit	Marathon Pete Corp	$0	–	-50,913	–	-1.61%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-6,697	–	-1.61%	–
HD	Exit	Home Depot	$0	–	-19,975	–	-1.63%	–
CHKP	Exit	Check Point Software	$0	–	-35,365	–	-1.64%	–
FTV	Exit	Fortive Corp	$0	–	-53,578	–	-1.78%	–
CHD	Exit	Church & Dwight	$0	–	-77,605	–	-1.82%	–
TTC	Exit	Toro Co	$0	–	-78,325	–	-1.85%	–
DHR	Exit	Danaher Corp	$0	–	-44,021	–	-1.89%	–
MKC	Exit	McCormick & Co	$0	–	-36,397	–	-1.89%	–
LH	Exit	Laboratory Corp	$0	–	-29,099	–	-1.99%	–
AMGN	Exit	Amgen	$0	–	-24,821	–	-2.03%	–
ECL	Exit	Ecolab	$0	–	-33,717	–	-2.08%	–
ANSS	Exit	Ansys	$0	–	-28,560	–	-2.10%	–
HON	Exit	Honeywell	$0	–	-33,120	–	-2.17%	–
GOOGL	Exit	Alphabet Inc	$0	–	-4,641	–	-2.21%	–
FISV	Exit	Fiserv	$0	–	-70,050	–	-2.28%	–
INTU	Exit	Intuit	$0	–	-25,865	–	-2.32%	–
TSM	Exit	Taiwan Semiconductor	$0	–	-148,802	–	-2.59%	–
APH	Exit	Amphenol Corp	$0	–	-69,903	–	-2.59%	–
ADP	Exit	Automatic Data Proc	$0	–	-44,535	–	-2.65%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-25,968	–	-2.67%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-28,389	–	-2.73%	–
IDXX	Exit	Idexx Labs	$0	–	-29,599	–	-2.92%	–
ROP	Exit	Roper Technologies Inc	$0	–	-25,714	–	-3.00%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-44,780	–	-3.01%	–
MA	Exit	Mastercard Worldwide	$0	–	-44,280	–	-3.89%	–
AAPL	Exit	Apple Computer	$0	–	-46,166	–	-4.11%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Computer	$10,421,000	+14.4%	46,166	-6.2%	4.11%	+4.6%
MA	Sell	Mastercard Worldwide	$9,857,000	+12.7%	44,280	-0.5%	3.89%	+3.1%
ACN	Sell	Accenture PLC Cl A	$7,622,000	+4.0%	44,780	-0.1%	3.01%	-4.9%
ROP	Sell	Roper Technologies Inc	$7,617,000	+6.5%	25,714	-0.8%	3.00%	-2.7%
IDXX	Sell	Idexx Labs	$7,390,000	+14.3%	29,599	-0.3%	2.92%	+4.5%
TMO	Buy	Thermo Fisher Scientific	$6,929,000	+18.0%	28,389	+0.1%	2.73%	+7.9%
BDX	Buy	Becton Dickinson & Co	$6,778,000	+24.8%	25,968	+14.5%	2.67%	+14.1%
ADP	Sell	Automatic Data Proc	$6,710,000	+12.3%	44,535	-0.1%	2.65%	+2.6%
APH	Sell	Amphenol Corp	$6,572,000	+7.9%	69,903	-0.0%	2.59%	-1.4%
TSM	Buy	Taiwan Semiconductor	$6,571,000	+21.0%	148,802	+0.2%	2.59%	+10.6%
INTU	Sell	Intuit	$5,882,000	-0.9%	25,865	-10.9%	2.32%	-9.4%
FISV	Buy	Fiserv	$5,771,000	+11.4%	70,050	+0.2%	2.28%	+1.9%
GOOGL	Buy	Alphabet Inc	$5,602,000	+8.6%	4,641	+1.6%	2.21%	-0.7%
HON	Buy	Honeywell	$5,511,000	+16.0%	33,120	+0.4%	2.17%	+6.0%
ANSS	Sell	Ansys	$5,332,000	+7.2%	28,560	-0.0%	2.10%	-2.0%
ECL	Sell	Ecolab	$5,286,000	+1.5%	33,717	-9.1%	2.08%	-7.2%
AMGN	Buy	Amgen	$5,145,000	+12.8%	24,821	+0.5%	2.03%	+3.2%
LH	Buy	Laboratory Corp	$5,054,000	-2.7%	29,099	+0.6%	1.99%	-11.0%
MKC	Buy	McCormick & Co	$4,795,000	+13.6%	36,397	+0.1%	1.89%	+3.9%
DHR	Buy	Danaher Corp	$4,783,000	+10.8%	44,021	+0.6%	1.89%	+1.3%
TTC	Buy	Toro Co	$4,697,000	-0.0%	78,325	+0.4%	1.85%	-8.6%
CHD	Buy	Church & Dwight	$4,607,000	+12.3%	77,605	+0.6%	1.82%	+2.7%
FTV	Sell	Fortive Corp	$4,511,000	+9.1%	53,578	-0.0%	1.78%	-0.2%
CHKP	Buy	Check Point Software	$4,161,000	+21.1%	35,365	+0.5%	1.64%	+10.7%
HD	Buy	Home Depot	$4,138,000	+6.3%	19,975	+0.1%	1.63%	-2.9%
MTD	Sell	Mettler Toledo Intl	$4,079,000	-2.7%	6,697	-7.6%	1.61%	-11.1%
MPC	Buy	Marathon Pete Corp	$4,072,000	+14.5%	50,913	+0.5%	1.61%	+4.7%
CMCSA	Buy	Comcast Corp New Cl A	$4,024,000	+8.3%	113,632	+0.4%	1.59%	-0.9%
NKE	Sell	Nike Cl B	$3,969,000	-2.2%	46,845	-8.0%	1.57%	-10.6%
HRS	Buy	Harris Corp	$3,933,000	+19.1%	23,240	+1.7%	1.55%	+8.8%
CVX	Buy	Chevron Texaco Corp	$3,866,000	-3.3%	31,613	+0.0%	1.52%	-11.5%
AON	Buy	Aon PLC	$3,795,000	+12.6%	24,679	+0.4%	1.50%	+3.0%
SHW	Buy	Sherwin-Williams Co	$3,780,000	+21.6%	8,303	+8.9%	1.49%	+11.2%
AME	Buy	Ametek	$3,687,000	+10.4%	46,596	+0.7%	1.45%	+0.9%
PNC	Buy	PNC Bk Corp	$3,631,000	+1.1%	26,658	+0.3%	1.43%	-7.6%
APD	Sell	Air Products & Chemicals	$3,603,000	+1.2%	21,569	-5.6%	1.42%	-7.5%
ITW	Buy	Illinois Tool Works	$3,449,000	+6.8%	24,442	+4.9%	1.36%	-2.4%
ORLY	Sell	O'Reilly Automotive New	$3,377,000	+18.1%	9,722	-7.0%	1.33%	+7.9%
HSIC	Buy	Henry Schein	$3,260,000	+19.2%	38,342	+1.8%	1.29%	+9.0%
IT	Buy	Gartner Group Cl A	$3,248,000	+19.7%	20,492	+0.3%	1.28%	+9.4%
BKNG	Sell	Booking Hldgs Inc	$3,221,000	-8.4%	1,623	-6.5%	1.27%	-16.3%
MSFT	Buy	Microsoft Corp	$3,144,000	+16.2%	27,490	+0.2%	1.24%	+6.2%
COST	Sell	Costco Wholesale	$3,066,000	+12.3%	13,056	-0.1%	1.21%	+2.6%
JPM	Buy	J P Morgan Chase	$2,592,000	+9.9%	22,969	+1.4%	1.02%	+0.4%
PSX	Buy	Phillips 66	$2,394,000	+0.8%	21,236	+0.4%	0.94%	-7.9%
SBUX	Sell	Starbucks Corp	$2,325,000	+1.1%	40,900	-13.1%	0.92%	-7.6%
MCO	Buy	Moody's Corp	$2,064,000	-1.7%	12,342	+0.3%	0.81%	-10.2%
CNI	Sell	Canadian National Railway Corp	$1,964,000	+9.8%	21,874	-0.1%	0.78%	+0.4%
EMN	Buy	Eastman Chemical	$1,668,000	+51.8%	17,431	+58.6%	0.66%	+38.8%
MMM	Buy	3M Co	$1,599,000	+7.5%	7,589	+0.3%	0.63%	-1.7%
BLK	Sell	BlackRock Inc	$1,575,000	-5.9%	3,342	-0.3%	0.62%	-14.0%
MAR	Buy	Marriott Intl New Cl A	$1,449,000	+4.9%	10,972	+0.6%	0.57%	-4.0%
ADBE	Sell	Adobe Inc	$1,355,000	+10.7%	5,018	-0.0%	0.54%	+1.3%
PPG	Sell	PPG Industries	$1,285,000	-6.0%	11,775	-10.6%	0.51%	-14.1%
CTSH	Buy	Cognizant Tech	$1,273,000	-1.9%	16,494	+0.3%	0.50%	-10.4%
UNH	Buy	UnitedHealth Grp	$1,251,000	+13.6%	4,702	+4.7%	0.49%	+3.8%
PH	Buy	Parker Hannifin Corp	$1,147,000	+20.6%	6,237	+2.2%	0.45%	+10.2%
VLO	Sell	Valero Energy Corp New	$1,058,000	+2.5%	9,301	-0.2%	0.42%	-6.3%
MGA	Buy	Magna Intl	$964,000	-9.0%	18,345	+0.7%	0.38%	-16.8%
ABT	Buy	Abbott Laboratories	$913,000	+31.6%	12,450	+9.5%	0.36%	+20.4%
AMT	Buy	American Tower Corp.	$769,000	+2.1%	5,292	+1.4%	0.30%	-6.8%
PSA	Sell	Public Storage Com	$755,000	-11.8%	3,745	-0.8%	0.30%	-19.2%
NEE	Sell	NextEra Energy	$672,000	-0.1%	4,010	-0.4%	0.26%	-8.6%
EL	Sell	Lauder Estee Cos Inc	$586,000	+1.4%	4,032	-0.4%	0.23%	-7.2%
AZO	Sell	Autozone	$574,000	+11.0%	740	-3.9%	0.23%	+1.3%
PAYX	Sell	Paychex	$454,000	+7.6%	6,158	-0.3%	0.18%	-1.6%
FDS	Buy	Factset Research System	$325,000	+19.9%	1,455	+6.2%	0.13%	+9.4%
CLX	Sell	Clorox Co	$323,000	+11.0%	2,150	-0.0%	0.13%	+0.8%
NVO	Sell	Novo Nordisk Spons ADR	$259,000	+2.0%	5,502	-0.0%	0.10%	-7.3%
BRKB	New	Berkshire Hathaway Cl B	$235,000	–	1,098	–	0.09%	–
INTC	Buy	Intel Corp	$228,000	-3.4%	4,819	+1.6%	0.09%	-11.8%
DIS	New	Walt Disney Company	$210,000	–	1,796	–	0.08%	–
EXR	Sell	Extra Space Storage REIT	$208,000	-13.3%	2,396	-0.5%	0.08%	-21.2%
VZ	New	Verizon Communication	$203,000	–	3,811	–	0.08%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$9,112,000	–	49,225	–	3.93%	–
MA	New	Mastercard Worldwide	$8,743,000	–	44,489	–	3.77%	–
ACN	New	Accenture PLC Cl A	$7,330,000	–	44,807	–	3.16%	–
ROP	New	Roper Technologies Inc	$7,154,000	–	25,927	–	3.09%	–
IDXX	New	Idexx Labs	$6,467,000	–	29,675	–	2.79%	–
APH	New	Amphenol Corp	$6,093,000	–	69,917	–	2.63%	–
ADP	New	Automatic Data Proc	$5,977,000	–	44,562	–	2.58%	–
INTU	New	Intuit	$5,933,000	–	29,038	–	2.56%	–
TMO	New	Thermo Fisher Scientific	$5,872,000	–	28,350	–	2.53%	–
TSM	New	Taiwan Semiconductor	$5,432,000	–	148,566	–	2.34%	–
BDX	New	Becton Dickinson & Co	$5,431,000	–	22,670	–	2.34%	–
ECL	New	Ecolab	$5,207,000	–	37,107	–	2.25%	–
LH	New	Laboratory Corp	$5,194,000	–	28,931	–	2.24%	–
FISV	New	Fiserv	$5,180,000	–	69,916	–	2.24%	–
GOOGL	New	Alphabet Inc	$5,160,000	–	4,570	–	2.23%	–
ANSS	New	Ansys	$4,975,000	–	28,561	–	2.15%	–
HON	New	Honeywell	$4,752,000	–	32,987	–	2.05%	–
TTC	New	Toro Co	$4,698,000	–	77,981	–	2.03%	–
AMGN	New	Amgen	$4,560,000	–	24,702	–	1.97%	–
DHR	New	Danaher Corp	$4,316,000	–	43,738	–	1.86%	–
MKC	New	McCormick & Co	$4,220,000	–	36,352	–	1.82%	–
MTD	New	Mettler Toledo Intl	$4,193,000	–	7,246	–	1.81%	–
FTV	New	Fortive Corp	$4,133,000	–	53,604	–	1.78%	–
CHD	New	Church & Dwight	$4,103,000	–	77,174	–	1.77%	–
NKE	New	Nike Cl B	$4,058,000	–	50,932	–	1.75%	–
CVX	New	Chevron Texaco Corp	$3,996,000	–	31,606	–	1.72%	–
HD	New	Home Depot	$3,893,000	–	19,954	–	1.68%	–
CMCSA	New	Comcast Corp New Cl A	$3,714,000	–	113,204	–	1.60%	–
PNC	New	PNC Bk Corp	$3,590,000	–	26,570	–	1.55%	–
APD	New	Air Products & Chemicals	$3,560,000	–	22,858	–	1.54%	–
MPC	New	Marathon Pete Corp	$3,555,000	–	50,677	–	1.53%	–
BKNG	New	Booking Hldgs Inc	$3,518,000	–	1,736	–	1.52%	–
CHKP	New	Check Point Software	$3,436,000	–	35,175	–	1.48%	–
AON	New	Aon PLC	$3,370,000	–	24,570	–	1.45%	–
AME	New	Ametek	$3,339,000	–	46,272	–	1.44%	–
HRS	New	Harris Corp	$3,303,000	–	22,851	–	1.42%	–
ITW	New	Illinois Tool Works	$3,230,000	–	23,311	–	1.39%	–
SHW	New	Sherwin-Williams Co	$3,109,000	–	7,627	–	1.34%	–
ORLY	New	O'Reilly Automotive New	$2,860,000	–	10,454	–	1.23%	–
HSIC	New	Henry Schein	$2,736,000	–	37,669	–	1.18%	–
COST	New	Costco Wholesale	$2,731,000	–	13,070	–	1.18%	–
IT	New	Gartner Group Cl A	$2,714,000	–	20,422	–	1.17%	–
MSFT	New	Microsoft Corp	$2,706,000	–	27,438	–	1.17%	–
PSX	New	Phillips 66	$2,375,000	–	21,145	–	1.02%	–
JPM	New	J P Morgan Chase	$2,359,000	–	22,644	–	1.02%	–
SBUX	New	Starbucks Corp	$2,300,000	–	47,075	–	0.99%	–
MCO	New	Moody's Corp	$2,099,000	–	12,309	–	0.91%	–
CNI	New	Canadian National Railway Corp	$1,789,000	–	21,889	–	0.77%	–
BLK	New	BlackRock Inc	$1,673,000	–	3,353	–	0.72%	–
MMM	New	3M Co	$1,488,000	–	7,563	–	0.64%	–
MAR	New	Marriott Intl New Cl A	$1,381,000	–	10,908	–	0.60%	–
PPG	New	PPG Industries	$1,367,000	–	13,175	–	0.59%	–
CTSH	New	Cognizant Tech	$1,298,000	–	16,437	–	0.56%	–
ADBE	New	Adobe Systems	$1,224,000	–	5,019	–	0.53%	–
UNH	New	UnitedHealth Grp	$1,101,000	–	4,489	–	0.48%	–
EMN	New	Eastman Chemical	$1,099,000	–	10,993	–	0.47%	–
MGA	New	Magna Intl	$1,059,000	–	18,226	–	0.46%	–
TROW	New	TRPrice Assoc	$1,042,000	–	8,975	–	0.45%	–
VLO	New	Valero Energy Corp New	$1,032,000	–	9,315	–	0.44%	–
PH	New	Parker Hannifin Corp	$951,000	–	6,101	–	0.41%	–
PSA	New	Public Storage Com	$856,000	–	3,775	–	0.37%	–
AMT	New	American Tower Corp.	$753,000	–	5,221	–	0.32%	–
ABT	New	Abbott Laboratories	$694,000	–	11,375	–	0.30%	–
NEE	New	NextEra Energy	$673,000	–	4,027	–	0.29%	–
JNJ	New	Johnson & Johnson	$639,000	–	5,267	–	0.28%	–
EL	New	Lauder Estee Cos Inc	$578,000	–	4,049	–	0.25%	–
AZO	New	Autozone	$517,000	–	770	–	0.22%	–
	New	Third Avenue Value Fdishares	$494,000	–	10,000	–	0.21%	–
BMY	New	Bristol-Myers Squibb	$485,000	–	8,760	–	0.21%	–
PAYX	New	Paychex	$422,000	–	6,179	–	0.18%	–
MRK	New	Merck & Co New	$346,000	–	5,700	–	0.15%	–
KNX	New	Knight-Swift Transn Hldgs	$297,000	–	7,775	–	0.13%	–
CLX	New	Clorox Co	$291,000	–	2,151	–	0.13%	–
FDS	New	Factset Research System	$271,000	–	1,370	–	0.12%	–
NVO	New	Novo Nordisk Spons ADR	$254,000	–	5,503	–	0.11%	–
EXR	New	Extra Space Storage REIT	$240,000	–	2,409	–	0.10%	–
INTC	New	Intel Corp	$236,000	–	4,745	–	0.10%	–
XOM	New	Exxon Mobil Corp	$232,000	–	2,800	–	0.10%	–
GOOG	New	Alphabet Inc Cl C	$209,000	–	187	–	0.09%	–

Q4 2017

			Value		Shares		↓ Weighting
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-5,578	–	-0.12%	–
PAYX	Exit	Paychex	$0	–	-5,000	–	-0.14%	–
MSFT	Exit	Microsoft Corp	$0	–	-4,017	–	-0.14%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-3,735	–	-0.14%	–
CLX	Exit	Clorox Co	$0	–	-2,451	–	-0.15%	–
KNX	Exit	Knight-Swift Transn Hldgs	$0	–	-8,750	–	-0.16%	–
MRK	Exit	Merck & Co New	$0	–	-6,157	–	-0.18%	–
ABT	Exit	Abbott Laboratories	$0	–	-8,250	–	-0.20%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-8,675	–	-0.25%	–
D	Exit	Dominion Energy Inc	$0	–	-7,353	–	-0.26%	–
NEE	Exit	NextEra Energy	$0	–	-4,007	–	-0.26%	–
AMT	Exit	American Tower Corp REIT Cl A	$0	–	-5,127	–	-0.32%	–
SNI	Exit	Scripps Networks Interactive	$0	–	-10,102	–	-0.39%	–
AZO	Exit	Autozone	$0	–	-1,463	–	-0.39%	–
TROW	Exit	TRPrice Assoc	$0	–	-9,975	–	-0.41%	–
JNJ	Exit	Johnson & Johnson	$0	–	-7,186	–	-0.42%	–
PSA	Exit	Public Storage Com	$0	–	-5,016	–	-0.48%	–
MAR	Exit	Marriott Intl New Cl A	$0	–	-11,397	–	-0.57%	–
PPG	Exit	PPG Industries	$0	–	-12,165	–	-0.60%	–
CTSH	Exit	Cognizant Tech	$0	–	-18,387	–	-0.60%	–
FDS	Exit	Factset Research System	$0	–	-7,630	–	-0.62%	–
SNA	Exit	Snap-On Inc	$0	–	-9,355	–	-0.63%	–
BLK	Exit	BlackRock Inc	$0	–	-3,155	–	-0.64%	–
IT	Exit	Gartner Group Cl A	$0	–	-12,063	–	-0.68%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-23,164	–	-0.87%	–
JPM	Exit	J P Morgan Chase	$0	–	-21,604	–	-0.93%	–
COST	Exit	Costco Wholesale	$0	–	-12,587	–	-0.93%	–
SHW	Exit	Sherwin-Williams Co	$0	–	-6,495	–	-1.05%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-11,610	–	-1.13%	–
DPS	Exit	Dr Pepper Snapple Group Inc	$0	–	-29,153	–	-1.16%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-13,432	–	-1.19%	–
APD	Exit	Air Products & Chemicals	$0	–	-18,744	–	-1.28%	–
RPM	Exit	RPM	$0	–	-57,439	–	-1.33%	–
AME	Exit	Ametek	$0	–	-45,758	–	-1.36%	–
NKE	Exit	Nike Cl B	$0	–	-59,072	–	-1.38%	–
PCLN	Exit	Priceline	$0	–	-1,683	–	-1.39%	–
SBUX	Exit	Starbucks Corp	$0	–	-57,591	–	-1.40%	–
HD	Exit	Home Depot	$0	–	-19,476	–	-1.44%	–
FB	Exit	Facebook Inc Cl A	$0	–	-19,240	–	-1.48%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-28,195	–	-1.49%	–
HRS	Exit	Harris Corp	$0	–	-26,632	–	-1.58%	–
CELG	Exit	Celgene Corp	$0	–	-24,184	–	-1.59%	–
AON	Exit	Aon PLC	$0	–	-24,226	–	-1.60%	–
PNC	Exit	PNC Bk Corp	$0	–	-26,269	–	-1.60%	–
ITW	Exit	Illinois Tool Works	$0	–	-25,387	–	-1.69%	–
DHR	Exit	Danaher Corp	$0	–	-43,778	–	-1.69%	–
ANSS	Exit	Ansys	$0	–	-31,472	–	-1.74%	–
FTV	Exit	Fortive Corp	$0	–	-54,620	–	-1.74%	–
CHKP	Exit	Check Point Software	$0	–	-35,467	–	-1.82%	–
MKC	Exit	McCormick & Co	$0	–	-42,566	–	-1.97%	–
LH	Exit	Laboratory Corp of American Hl	$0	–	-29,008	–	-1.98%	–
GOOGL	Exit	Alphabet Inc	$0	–	-4,520	–	-1.98%	–
HSIC	Exit	Henry Schein	$0	–	-54,197	–	-2.00%	–
HON	Exit	Honeywell	$0	–	-32,137	–	-2.06%	–
CHD	Exit	Church & Dwight	$0	–	-94,314	–	-2.06%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-7,439	–	-2.10%	–
FISV	Exit	Fiserv	$0	–	-37,169	–	-2.16%	–
ECL	Exit	Ecolab	$0	–	-37,837	–	-2.20%	–
INTU	Exit	Intuit	$0	–	-35,073	–	-2.25%	–
TTC	Exit	Toro Co	$0	–	-82,798	–	-2.32%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-133,816	–	-2.32%	–
AMGN	Exit	Amgen	$0	–	-27,880	–	-2.34%	–
ADP	Exit	Automatic Data Proc	$0	–	-47,686	–	-2.35%	–
IDXX	Exit	Idexx Labs	$0	–	-36,210	–	-2.54%	–
TSM	Exit	Taiwan Semiconductor Mfg ADR	$0	–	-151,921	–	-2.57%	–
BCR	Exit	Bard C R Inc N J Com	$0	–	-17,878	–	-2.58%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-33,333	–	-2.84%	–
APH	Exit	Amphenol Corp	$0	–	-74,757	–	-2.85%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-47,043	–	-2.87%	–
ROP	Exit	Roper Technologies Inc	$0	–	-29,467	–	-3.24%	–
MA	Exit	Mastercard Worldwide	$0	–	-51,712	–	-3.29%	–
AAPL	Exit	Apple Computer	$0	–	-50,492	–	-3.51%	–

Q3 2017

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Computer	$7,782,000	+6.9%	50,492	-0.2%	3.51%	+6.8%
MA	Sell	Mastercard Worldwide	$7,302,000	+16.1%	51,712	-0.2%	3.29%	+16.0%
ROP	Sell	Roper Technologies Inc	$7,172,000	+2.8%	29,467	-2.3%	3.24%	+2.7%
ACN	Sell	Accenture PLC Cl A	$6,354,000	+0.1%	47,043	-8.3%	2.87%	+0.1%
APH	Sell	Amphenol Corp	$6,327,000	+14.3%	74,757	-0.3%	2.85%	+14.3%
TMO	Buy	Thermo Fisher Scientific	$6,307,000	+23.8%	33,333	+14.2%	2.84%	+23.8%
BCR	Buy	Bard C R Inc N J Com	$5,730,000	+1.5%	17,878	+0.1%	2.58%	+1.5%
TSM	Buy	Taiwan Semiconductor Mfg ADR	$5,705,000	+7.5%	151,921	+0.1%	2.57%	+7.4%
IDXX	Sell	Idexx Labs	$5,630,000	-8.0%	36,210	-4.5%	2.54%	-8.0%
ADP	Sell	Automatic Data Proc	$5,213,000	+3.8%	47,686	-2.7%	2.35%	+3.8%
AMGN	Buy	Amgen	$5,198,000	+10.3%	27,880	+1.9%	2.34%	+10.2%
CMCSA	Sell	Comcast Corp New Cl A	$5,149,000	-3.6%	133,816	-2.5%	2.32%	-3.6%
TTC	Sell	Toro Co	$5,138,000	-13.8%	82,798	-3.7%	2.32%	-13.8%
INTU	Sell	Intuit	$4,985,000	+6.7%	35,073	-0.3%	2.25%	+6.7%
ECL	Sell	Ecolab	$4,866,000	-3.9%	37,837	-0.8%	2.20%	-3.9%
FISV	Sell	Fiserv	$4,793,000	+0.7%	37,169	-4.5%	2.16%	+0.7%
MTD	Buy	Mettler Toledo Intl	$4,658,000	+6.4%	7,439	+0.0%	2.10%	+6.4%
CHD	Sell	Church & Dwight	$4,570,000	-13.9%	94,314	-7.8%	2.06%	-13.9%
HON	Buy	Honeywell	$4,555,000	+6.4%	32,137	+0.0%	2.06%	+6.4%
HSIC	Buy	Henry Schein	$4,444,000	-11.0%	54,197	+98.7%	2.00%	-11.0%
GOOGL	Buy	Alphabet Inc	$4,401,000	+6.2%	4,520	+1.4%	1.98%	+6.2%
LH	Buy	Laboratory Corp of American Hl	$4,379,000	-1.7%	29,008	+0.4%	1.98%	-1.7%
MKC	Sell	McCormick & Co	$4,369,000	+5.1%	42,566	-0.1%	1.97%	+5.1%
CHKP	Sell	Check Point Software	$4,044,000	+3.6%	35,467	-0.9%	1.82%	+3.6%
FTV	Buy	Fortive Corp	$3,867,000	+38.1%	54,620	+23.5%	1.74%	+38.0%
ANSS	Buy	Ansys	$3,863,000	+1.0%	31,472	+0.1%	1.74%	+1.0%
DHR	Sell	Danaher Corp	$3,755,000	-21.6%	43,778	-22.9%	1.69%	-21.6%
ITW	Sell	Illinois Tool Works	$3,756,000	+2.7%	25,387	-0.6%	1.69%	+2.7%
PNC	Buy	PNC Bk Corp	$3,540,000	+55.6%	26,269	+44.2%	1.60%	+55.7%
AON	Buy	Aon PLC	$3,539,000	+10.5%	24,226	+0.5%	1.60%	+10.4%
CELG	Buy	Celgene Corp	$3,526,000	+13.4%	24,184	+1.0%	1.59%	+13.4%
HRS	Buy	Harris Corp	$3,507,000	+23.1%	26,632	+1.9%	1.58%	+23.0%
CVX	Sell	Chevron Texaco Corp	$3,313,000	+10.4%	28,195	-2.0%	1.49%	+10.3%
FB	Buy	Facebook Inc Cl A	$3,287,000	+17.8%	19,240	+4.1%	1.48%	+17.8%
HD	Buy	Home Depot	$3,186,000	+31.4%	19,476	+23.2%	1.44%	+31.4%
SBUX	Sell	Starbucks Corp	$3,093,000	-9.9%	57,591	-2.2%	1.40%	-9.9%
NKE	Sell	Nike Cl B	$3,063,000	-14.5%	59,072	-2.7%	1.38%	-14.5%
AME	Sell	Ametek	$3,022,000	+8.8%	45,758	-0.2%	1.36%	+8.8%
RPM	Sell	RPM	$2,949,000	-12.1%	57,439	-6.6%	1.33%	-12.2%
APD	Buy	Air Products & Chemicals	$2,834,000	+9.0%	18,744	+3.1%	1.28%	+9.0%
BDX	Sell	Becton Dickinson & Co	$2,632,000	-0.3%	13,432	-0.7%	1.19%	-0.3%
DPS	Sell	Dr Pepper Snapple Group Inc	$2,579,000	-5.3%	29,153	-2.5%	1.16%	-5.4%
ORLY	Buy	O'Reilly Automotive New	$2,501,000	-1.5%	11,610	+0.1%	1.13%	-1.5%
SHW	Buy	Sherwin-Williams Co	$2,325,000	+6.4%	6,495	+4.3%	1.05%	+6.4%
COST	Sell	Costco Wholesale	$2,068,000	-25.9%	12,587	-27.9%	0.93%	-26.0%
JPM	Buy	J P Morgan Chase	$2,063,000	+4.9%	21,604	+0.4%	0.93%	+5.0%
CNI	Buy	Canadian National Railway Corp	$1,919,000	+2.6%	23,164	+0.3%	0.87%	+2.6%
IT	Buy	Gartner Group Cl A	$1,501,000	+95.2%	12,063	+93.7%	0.68%	+95.1%
BLK	Buy	BlackRock Inc	$1,411,000	+6.8%	3,155	+0.9%	0.64%	+6.7%
SNA	Sell	Snap-On Inc	$1,394,000	-51.4%	9,355	-48.4%	0.63%	-51.4%
FDS	Sell	Factset Research System	$1,374,000	+8.0%	7,630	-0.3%	0.62%	+8.0%
PPG	Sell	PPG Industries	$1,322,000	-7.1%	12,165	-6.0%	0.60%	-7.2%
MAR	Buy	Marriott Intl New Cl A	$1,257,000	+18.7%	11,397	+7.9%	0.57%	+18.6%
PSA	Sell	Public Storage Com	$1,073,000	-1.3%	5,016	-3.7%	0.48%	-1.2%
AZO	Sell	Autozone	$871,000	-11.6%	1,463	-15.2%	0.39%	-11.5%
SNI	Sell	Scripps Networks Interactive	$868,000	+23.8%	10,102	-1.6%	0.39%	+24.1%
AMT	Buy	American Tower Corp REIT Cl A	$701,000	+10.6%	5,127	+6.9%	0.32%	+10.5%
NEE	Sell	NextEra Energy	$587,000	-2.7%	4,007	-6.8%	0.26%	-2.6%
D	Buy	Dominion Energy Inc	$566,000	+5.6%	7,353	+5.1%	0.26%	+5.4%
ABT	Sell	Abbott Laboratories	$440,000	-7.0%	8,250	-15.2%	0.20%	-7.0%
MRK	Sell	Merck & Co New	$394,000	-6.2%	6,157	-6.1%	0.18%	-5.8%
KNX	New	Knight-Swift Transn Hldgs	$364,000	–	8,750	–	0.16%	–
XOM	Sell	Exxon Mobil Corp	$306,000	-1.3%	3,735	-2.9%	0.14%	-1.4%
MSFT	Buy	Microsoft Corp	$299,000	+9.1%	4,017	+0.9%	0.14%	+8.9%
NVO	Sell	Novo Nordisk Spons ADR	$269,000	+6.3%	5,578	-5.5%	0.12%	+6.1%
	Exit	Vanguard 500 Index Fd Admiralishares	$0	–	-1,139	–	-0.12%	–
KNX	Exit	Knight Transn	$0	–	-8,750	–	-0.15%	–
AYI	Exit	Acuity Brands Inc	$0	–	-7,505	–	-0.69%	–
EFX	Exit	Equifax	$0	–	-32,627	–	-2.02%	–

Q2 2017

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$7,283,000	–	50,572	–	3.29%	–
ROP	New	Roper Technologies Inc	$6,980,000	–	30,147	–	3.15%	–
ACN	New	Accenture PLC Cl A	$6,346,000	–	51,313	–	2.86%	–
MA	New	Mastercard Worldwide	$6,292,000	–	51,808	–	2.84%	–
IDXX	New	Idexx Labs	$6,119,000	–	37,906	–	2.76%	–
TTC	New	Toro Co	$5,958,000	–	85,993	–	2.69%	–
BCR	New	Bard C R Inc N J Com	$5,648,000	–	17,869	–	2.55%	–
APH	New	Amphenol Corp	$5,535,000	–	74,976	–	2.50%	–
CMCSA	New	Comcast Corp New Cl A	$5,340,000	–	137,208	–	2.41%	–
TSM	New	Taiwan Semiconductor Mfg ADR	$5,308,000	–	151,844	–	2.40%	–
CHD	New	Church & Dwight	$5,309,000	–	102,333	–	2.40%	–
TMO	New	Thermo Fisher Scientific	$5,093,000	–	29,190	–	2.30%	–
ECL	New	Ecolab	$5,061,000	–	38,128	–	2.28%	–
ADP	New	Automatic Data Proc	$5,020,000	–	48,997	–	2.26%	–
HSIC	New	Henry Schein	$4,993,000	–	27,281	–	2.25%	–
DHR	New	Danaher Corp	$4,790,000	–	56,760	–	2.16%	–
FISV	New	Fiserv	$4,760,000	–	38,910	–	2.15%	–
AMGN	New	Amgen	$4,714,000	–	27,370	–	2.13%	–
INTU	New	Intuit	$4,670,000	–	35,165	–	2.11%	–
EFX	New	Equifax	$4,484,000	–	32,627	–	2.02%	–
LH	New	Laboratory Corp of American Hl	$4,453,000	–	28,888	–	2.01%	–
MTD	New	Mettler Toledo Intl	$4,376,000	–	7,436	–	1.97%	–
HON	New	Honeywell	$4,283,000	–	32,134	–	1.93%	–
MKC	New	McCormick & Co	$4,156,000	–	42,625	–	1.88%	–
GOOGL	New	Alphabet Inc	$4,143,000	–	4,456	–	1.87%	–
CHKP	New	Check Point Software	$3,903,000	–	35,781	–	1.76%	–
ANSS	New	Ansys	$3,824,000	–	31,427	–	1.72%	–
ITW	New	Illinois Tool Works	$3,658,000	–	25,532	–	1.65%	–
NKE	New	Nike Cl B	$3,581,000	–	60,695	–	1.62%	–
SBUX	New	Starbucks Corp	$3,433,000	–	58,868	–	1.55%	–
RPM	New	RPM	$3,355,000	–	61,495	–	1.51%	–
AON	New	Aon PLC	$3,204,000	–	24,098	–	1.44%	–
PCLN	New	Priceline	$3,147,000	–	1,683	–	1.42%	–
CELG	New	Celgene Corp	$3,110,000	–	23,944	–	1.40%	–
CVX	New	Chevron Texaco Corp	$3,001,000	–	28,762	–	1.35%	–
SNA	New	Snap-On Inc	$2,866,000	–	18,137	–	1.29%	–
HRS	New	Harris Corp	$2,850,000	–	26,126	–	1.29%	–
FTV	New	Fortive Corp	$2,801,000	–	44,221	–	1.26%	–
COST	New	Costco Wholesale	$2,792,000	–	17,455	–	1.26%	–
FB	New	Facebook Inc Cl A	$2,790,000	–	18,483	–	1.26%	–
AME	New	Ametek	$2,777,000	–	45,851	–	1.25%	–
DPS	New	Dr Pepper Snapple Group Inc	$2,724,000	–	29,898	–	1.23%	–
BDX	New	Becton Dickinson & Co	$2,640,000	–	13,530	–	1.19%	–
APD	New	Air Products & Chemicals	$2,600,000	–	18,175	–	1.17%	–
ORLY	New	O'Reilly Automotive New	$2,538,000	–	11,604	–	1.14%	–
HD	New	Home Depot	$2,425,000	–	15,808	–	1.09%	–
PNC	New	PNC Bk Corp	$2,275,000	–	18,220	–	1.03%	–
SHW	New	Sherwin-Williams Co	$2,185,000	–	6,225	–	0.99%	–
JPM	New	J P Morgan Chase	$1,966,000	–	21,510	–	0.89%	–
CNI	New	Canadian National Railway Corp	$1,871,000	–	23,089	–	0.84%	–
AYI	New	Acuity Brands Inc	$1,526,000	–	7,505	–	0.69%	–
PPG	New	PPG Industries	$1,423,000	–	12,940	–	0.64%	–
BLK	New	BlackRock Inc	$1,321,000	–	3,127	–	0.60%	–
FDS	New	Factset Research System	$1,272,000	–	7,655	–	0.57%	–
CTSH	New	Cognizant Tech	$1,221,000	–	18,387	–	0.55%	–
PSA	New	Public Storage Com	$1,087,000	–	5,211	–	0.49%	–
MAR	New	Marriott Intl New Cl A	$1,059,000	–	10,558	–	0.48%	–
AZO	New	Autozone	$985,000	–	1,726	–	0.44%	–
JNJ	New	Johnson & Johnson	$951,000	–	7,186	–	0.43%	–
IT	New	Gartner Group Cl A	$769,000	–	6,228	–	0.35%	–
TROW	New	TRPrice Assoc	$740,000	–	9,975	–	0.33%	–
SNI	New	Scripps Networks Interactive	$701,000	–	10,265	–	0.32%	–
AMT	New	American Tower Corp REIT Cl A	$634,000	–	4,794	–	0.29%	–
NEE	New	NextEra Energy	$603,000	–	4,300	–	0.27%	–
D	New	Dominion Energy Inc	$536,000	–	6,996	–	0.24%	–
BMY	New	Bristol-Myers Squibb	$483,000	–	8,675	–	0.22%	–
ABT	New	Abbott Laboratories	$473,000	–	9,725	–	0.21%	–
MRK	New	Merck & Co New	$420,000	–	6,559	–	0.19%	–
CLX	New	Clorox Co	$327,000	–	2,451	–	0.15%	–
KNX	New	Knight Transn	$324,000	–	8,750	–	0.15%	–
XOM	New	Exxon Mobil Corp	$310,000	–	3,846	–	0.14%	–
PAYX	New	Paychex	$285,000	–	5,000	–	0.13%	–
MSFT	New	Microsoft Corp	$274,000	–	3,981	–	0.12%	–
	New	Vanguard 500 Index Fd Admiralishares	$255,000	–	1,139	–	0.12%	–
NVO	New	Novo Nordisk Spons ADR	$253,000	–	5,903	–	0.11%	–

Q4 2016

			Value		Shares		↓ Weighting
AES	Exit	AES Corp	$0	–	-12,800	–	-0.08%	–
NBL	Exit	Noble Energy	$0	–	-5,750	–	-0.10%	–
KNX	Exit	Knight Transn	$0	–	-8,750	–	-0.13%	–
TRMB	Exit	Trimble Inc	$0	–	-9,048	–	-0.13%	–
XEC	Exit	Cimarex Energy Co	$0	–	-2,000	–	-0.14%	–
SRCL	Exit	Stericycle	$0	–	-3,540	–	-0.14%	–
PAYX	Exit	Paychex	$0	–	-5,200	–	-0.15%	–
CLX	Exit	Clorox Co	$0	–	-2,651	–	-0.17%	–
CTXS	Exit	Citrix Systems	$0	–	-3,915	–	-0.17%	–
FDS	Exit	Factset Research System	$0	–	-2,083	–	-0.17%	–
HD	Exit	Home Depot	$0	–	-3,062	–	-0.20%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-4,555	–	-0.20%	–
MRK	Exit	Merck & Co New	$0	–	-8,152	–	-0.26%	–
UTX	Exit	United Technologies	$0	–	-5,085	–	-0.26%	–
ABT	Exit	Abbott Laboratories	$0	–	-12,790	–	-0.27%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-5,775	–	-0.30%	–
D	Exit	Dominion Resources	$0	–	-8,174	–	-0.30%	–
NEE	Exit	NextEra Energy	$0	–	-5,100	–	-0.31%	–
MAR	Exit	Marriott Intl New Cl A	$0	–	-9,430	–	-0.32%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-14,000	–	-0.38%	–
BLK	Exit	BlackRock Inc	$0	–	-2,221	–	-0.40%	–
PCLN	Exit	Priceline	$0	–	-588	–	-0.43%	–
VFC	Exit	V F Corp	$0	–	-15,768	–	-0.44%	–
CTSH	Exit	Cognizant Tech	$0	–	-20,237	–	-0.48%	–
SLB	Exit	Schlumberger Ltd	$0	–	-12,812	–	-0.50%	–
JNJ	Exit	Johnson & Johnson	$0	–	-8,576	–	-0.51%	–
WFC	Exit	Wells Fargo & Co	$0	–	-24,551	–	-0.54%	–
FTV	Exit	Fortive Corp	$0	–	-28,532	–	-0.73%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-22,524	–	-0.74%	–
APD	Exit	Air Products & Chemicals	$0	–	-10,624	–	-0.80%	–
EFX	Exit	Equifax	$0	–	-13,204	–	-0.89%	–
TROW	Exit	TRPrice Assoc	$0	–	-27,120	–	-0.90%	–
AYI	Exit	Acuity Brands Inc	$0	–	-7,036	–	-0.93%	–
PSA	Exit	Public Storage Com	$0	–	-9,047	–	-1.01%	–
CVS	Exit	CVS Health Corp	$0	–	-24,095	–	-1.07%	–
AME	Exit	Ametek	$0	–	-48,414	–	-1.16%	–
AZO	Exit	Autozone	$0	–	-3,055	–	-1.18%	–
WPP	Exit	WPP PLC ADR New	$0	–	-20,782	–	-1.22%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-13,702	–	-1.23%	–
ITW	Exit	Illinois Tool Works	$0	–	-20,699	–	-1.24%	–
AON	Exit	Aon PLC	$0	–	-23,710	–	-1.34%	–
CELG	Exit	Celgene Corp	$0	–	-25,936	–	-1.36%	–
SNA	Exit	Snap-On Inc	$0	–	-17,886	–	-1.36%	–
CERN	Exit	Cerner Corp	$0	–	-44,504	–	-1.38%	–
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-69,004	–	-1.44%	–
COST	Exit	Costco Wholesale	$0	–	-18,976	–	-1.45%	–
LH	Exit	Laboratory Corp of American Hl	$0	–	-21,125	–	-1.45%	–
CHKP	Exit	Check Point Software	$0	–	-38,340	–	-1.49%	–
DPS	Exit	Dr Pepper Snapple Group Inc	$0	–	-32,972	–	-1.51%	–
RPM	Exit	RPM	$0	–	-57,159	–	-1.54%	–
SBUX	Exit	Starbucks Corp	$0	–	-60,049	–	-1.63%	–
GOOGL	Exit	Alphabet Inc	$0	–	-4,294	–	-1.73%	–
ANSS	Exit	Ansys	$0	–	-37,480	–	-1.74%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-8,456	–	-1.78%	–
PPG	Exit	PPG Industries	$0	–	-37,093	–	-1.92%	–
HON	Exit	Honeywell	$0	–	-33,062	–	-1.93%	–
FISV	Exit	Fiserv	$0	–	-40,364	–	-2.01%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-14,467	–	-2.03%	–
BCR	Exit	Bard C R Inc N J Com	$0	–	-18,175	–	-2.04%	–
NKE	Exit	Nike Cl B	$0	–	-79,945	–	-2.11%	–
MKC	Exit	McCormick & Co	$0	–	-42,615	–	-2.13%	–
ADP	Exit	Automatic Data Proc	$0	–	-50,384	–	-2.22%	–
DHR	Exit	Danaher Corp	$0	–	-57,251	–	-2.25%	–
TSM	Exit	Taiwan Semiconductor Mfg ADR	$0	–	-146,830	–	-2.25%	–
AMGN	Exit	Amgen	$0	–	-27,164	–	-2.27%	–
TTC	Exit	Toro Co	$0	–	-98,347	–	-2.31%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-69,703	–	-2.32%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-29,943	–	-2.38%	–
HSIC	Exit	Henry Schein	$0	–	-30,154	–	-2.46%	–
CHD	Exit	Church & Dwight	$0	–	-104,692	–	-2.51%	–
ECL	Exit	Ecolab	$0	–	-42,466	–	-2.59%	–
INTU	Exit	Intuit	$0	–	-47,070	–	-2.59%	–
APH	Exit	Amphenol Corp	$0	–	-80,183	–	-2.61%	–
ROP	Exit	Roper Technologies Inc	$0	–	-31,164	–	-2.85%	–
MA	Exit	Mastercard Worldwide	$0	–	-56,124	–	-2.86%	–
AAPL	Exit	Apple Computer	$0	–	-55,997	–	-3.17%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-52,498	–	-3.21%	–
IDXX	Exit	Idexx Labs	$0	–	-57,054	–	-3.22%	–

Q3 2016

			Value		Shares		↓ Weighting
IDXX	Sell	Idexx Labs	$6,432,000	+19.0%	57,054	-2.0%	3.22%	+12.6%
ACN	Sell	Accenture PLC Cl A	$6,414,000	+7.5%	52,498	-0.4%	3.21%	+1.7%
AAPL	Sell	Apple Computer	$6,331,000	+17.4%	55,997	-0.8%	3.17%	+11.0%
MA	Sell	Mastercard Worldwide	$5,712,000	+15.2%	56,124	-0.3%	2.86%	+9.0%
ROP	Buy	Roper Technologies Inc	$5,687,000	+7.7%	31,164	+0.7%	2.85%	+1.9%
APH	Buy	Amphenol Corp	$5,205,000	+20.3%	80,183	+6.3%	2.61%	+13.8%
INTU	Buy	Intuit	$5,178,000	-0.2%	47,070	+1.3%	2.59%	-5.6%
ECL	Buy	Ecolab	$5,169,000	+2.7%	42,466	+0.0%	2.59%	-2.9%
CHD	Buy	Church & Dwight	$5,017,000	-8.1%	104,692	+97.3%	2.51%	-13.1%
HSIC	Sell	Henry Schein	$4,915,000	-9.3%	30,154	-1.6%	2.46%	-14.2%
TMO	Buy	Thermo Fisher Scientific	$4,763,000	+9.0%	29,943	+1.3%	2.38%	+3.2%
CMCSA	Sell	Comcast Corp New Cl A	$4,624,000	+1.0%	69,703	-0.7%	2.32%	-4.5%
TTC	Buy	Toro Co	$4,607,000	+5.6%	98,347	+98.8%	2.31%	-0.1%
AMGN	Buy	Amgen	$4,531,000	+12.8%	27,164	+2.9%	2.27%	+6.7%
TSM	Buy	Taiwan Semiconductor Mfg ADR	$4,492,000	+48.4%	146,830	+27.3%	2.25%	+40.5%
DHR	Buy	Danaher Corp	$4,488,000	-21.7%	57,251	+0.9%	2.25%	-25.9%
ADP	Buy	Automatic Data Proc	$4,444,000	-3.2%	50,384	+0.8%	2.22%	-8.5%
MKC	Buy	McCormick & Co	$4,258,000	-5.0%	42,615	+1.4%	2.13%	-10.2%
NKE	Buy	Nike Cl B	$4,209,000	-1.7%	79,945	+3.1%	2.11%	-7.0%
BCR	Buy	Bard C R Inc N J Com	$4,076,000	+42.0%	18,175	+48.9%	2.04%	+34.4%
ORLY	Sell	O'Reilly Automotive New	$4,052,000	+0.2%	14,467	-3.0%	2.03%	-5.1%
FISV	Sell	Fiserv	$4,015,000	-10.4%	40,364	-2.1%	2.01%	-15.3%
HON	Buy	Honeywell	$3,855,000	+126.0%	33,062	+125.5%	1.93%	+113.7%
PPG	Buy	PPG Industries	$3,834,000	+13.0%	37,093	+13.8%	1.92%	+6.9%
MTD	Sell	Mettler Toledo Intl	$3,550,000	+14.3%	8,456	-0.7%	1.78%	+8.1%
ANSS	Buy	Ansys	$3,471,000	+14.7%	37,480	+12.4%	1.74%	+8.6%
GOOGL	Buy	Alphabet Inc	$3,452,000	+16.2%	4,294	+1.7%	1.73%	+9.9%
SBUX	Buy	Starbucks Corp	$3,251,000	-5.1%	60,049	+0.2%	1.63%	-10.2%
RPM	Buy	RPM	$3,071,000	+8.7%	57,159	+1.0%	1.54%	+2.8%
DPS	Sell	Dr Pepper Snapple Group Inc	$3,011,000	-7.4%	32,972	-2.0%	1.51%	-12.4%
CHKP	Sell	Check Point Software	$2,976,000	-4.6%	38,340	-2.1%	1.49%	-9.8%
LH	New	Laboratory Corp of American Hl	$2,904,000	–	21,125	–	1.45%	–
COST	Buy	Costco Wholesale	$2,894,000	+178.5%	18,976	+186.8%	1.45%	+163.5%
NVO	Sell	Novo Nordisk Spons ADR	$2,870,000	-52.8%	69,004	-38.9%	1.44%	-55.3%
CERN	New	Cerner Corp	$2,748,000	–	44,504	–	1.38%	–
SNA	Buy	Snap-On Inc	$2,718,000	-3.1%	17,886	+0.7%	1.36%	-8.3%
CELG	Buy	Celgene Corp	$2,711,000	+7.2%	25,936	+1.2%	1.36%	+1.4%
AON	Buy	Aon PLC	$2,667,000	+8.4%	23,710	+5.3%	1.34%	+2.5%
ITW	Buy	Illinois Tool Works	$2,481,000	+16.0%	20,699	+0.8%	1.24%	+9.7%
BDX	Buy	Becton Dickinson & Co	$2,463,000	+83.0%	13,702	+72.7%	1.23%	+73.2%
WPP	Buy	WPP PLC ADR New	$2,446,000	+14.6%	20,782	+1.7%	1.22%	+8.4%
AZO	Sell	Autozone	$2,347,000	-3.7%	3,055	-0.4%	1.18%	-8.8%
AME	Sell	Ametek	$2,313,000	-24.1%	48,414	-26.6%	1.16%	-28.2%
CVS	Buy	CVS Health Corp	$2,144,000	-6.1%	24,095	+1.0%	1.07%	-11.1%
PSA	Sell	Public Storage Com	$2,019,000	-13.6%	9,047	-1.1%	1.01%	-18.3%
AYI	New	Acuity Brands Inc	$1,862,000	–	7,036	–	0.93%	–
TROW	Sell	TRPrice Assoc	$1,803,000	-11.7%	27,120	-3.1%	0.90%	-16.5%
EFX	Buy	Equifax	$1,777,000	+8.0%	13,204	+3.0%	0.89%	+2.2%
APD	Buy	Air Products & Chemicals	$1,597,000	+9.2%	10,624	+3.2%	0.80%	+3.4%
CNI	Sell	Canadian National Railway Corp	$1,473,000	+10.7%	22,524	-0.1%	0.74%	+4.8%
FTV	New	Fortive Corp	$1,452,000	–	28,532	–	0.73%	–
WFC	Sell	Wells Fargo & Co	$1,087,000	-38.6%	24,551	-34.4%	0.54%	-41.9%
JNJ	Sell	Johnson & Johnson	$1,013,000	-3.2%	8,576	-0.6%	0.51%	-8.5%
SLB	Buy	Schlumberger Ltd	$1,008,000	+5.1%	12,812	+5.6%	0.50%	-0.6%
CTSH	Sell	Cognizant Tech	$966,000	-48.8%	20,237	-38.6%	0.48%	-51.6%
VFC	Sell	V F Corp	$884,000	-21.8%	15,768	-14.2%	0.44%	-25.9%
PCLN	Buy	Priceline	$866,000	+20.4%	588	+2.1%	0.43%	+13.9%
BLK	New	BlackRock Inc	$805,000	–	2,221	–	0.40%	–
BMY	Sell	Bristol-Myers Squibb	$755,000	-29.4%	14,000	-3.8%	0.38%	-33.2%
MAR	Buy	Marriott Intl New Cl A	$635,000	+9.7%	9,430	+8.2%	0.32%	+3.9%
NEE	Buy	NextEra Energy	$624,000	+4.7%	5,100	+11.6%	0.31%	-1.0%
D	Buy	Dominion Resources	$607,000	-1.9%	8,174	+2.8%	0.30%	-7.3%
ABT	Sell	Abbott Laboratories	$541,000	+2.7%	12,790	-4.7%	0.27%	-2.9%
UTX	Sell	United Technologies	$517,000	-9.1%	5,085	-8.3%	0.26%	-14.0%
XOM	Sell	Exxon Mobil Corp	$398,000	-7.9%	4,555	-1.2%	0.20%	-13.1%
HD	Buy	Home Depot	$394,000	+16.6%	3,062	+15.5%	0.20%	+10.1%
FDS	Buy	Factset Research System	$338,000	+11.6%	2,083	+10.8%	0.17%	+5.6%
CTXS	Sell	Citrix Systems	$334,000	+3.7%	3,915	-2.5%	0.17%	-1.8%
SRCL	Sell	Stericycle	$284,000	-92.6%	3,540	-90.4%	0.14%	-93.0%
TRMB	New	Trimble Inc	$258,000	–	9,048	–	0.13%	–
AES	New	AES Corp	$164,000	–	12,800	–	0.08%	–
VZ	Exit	Verizon Communication	$0	–	-3,972	–	-0.12%	–
RAI	Exit	Reynolds America	$0	–	-4,158	–	-0.12%	–
NVS	Exit	Novartis AG ADR	$0	–	-12,052	–	-0.53%	–
GILD	Exit	Gilead Sciences	$0	–	-14,195	–	-0.63%	–

Q2 2016

			Value		Shares		↓ Weighting
NVO	New	Novo Nordisk Spons ADR	$6,076,000	–	112,985	–	3.22%	–
ACN	New	Accenture PLC Cl A	$5,969,000	–	52,686	–	3.16%	–
DHR	New	Danaher Corp	$5,730,000	–	56,732	–	3.03%	–
CHD	New	Church & Dwight	$5,460,000	–	53,064	–	2.89%	–
HSIC	New	Henry Schein	$5,417,000	–	30,638	–	2.87%	–
IDXX	New	Idexx Labs	$5,404,000	–	58,196	–	2.86%	–
AAPL	New	Apple Computer	$5,394,000	–	56,424	–	2.86%	–
ROP	New	Roper Technologies Inc	$5,279,000	–	30,952	–	2.79%	–
INTU	New	Intuit	$5,188,000	–	46,486	–	2.75%	–
ECL	New	Ecolab	$5,035,000	–	42,450	–	2.66%	–
MA	New	MasterCard Worldwide	$4,958,000	–	56,302	–	2.62%	–
ADP	New	Automatic Data Proc	$4,593,000	–	49,997	–	2.43%	–
CMCSA	New	Comcast Corp New Cl A	$4,578,000	–	70,223	–	2.42%	–
MKC	New	McCormick & Co	$4,484,000	–	42,039	–	2.37%	–
FISV	New	Fiserv	$4,482,000	–	41,221	–	2.37%	–
TMO	New	Thermo Fisher Scientific	$4,368,000	–	29,562	–	2.31%	–
TTC	New	Toro Co	$4,362,000	–	49,460	–	2.31%	–
APH	New	Amphenol Corp	$4,325,000	–	75,435	–	2.29%	–
NKE	New	Nike Cl B	$4,282,000	–	77,565	–	2.27%	–
ORLY	New	O'Reilly Automotive New	$4,042,000	–	14,908	–	2.14%	–
AMGN	New	Amgen	$4,018,000	–	26,410	–	2.13%	–
SRCL	New	Stericycle	$3,833,000	–	36,810	–	2.03%	–
SBUX	New	Starbucks Corp	$3,424,000	–	59,945	–	1.81%	–
PPG	New	PPG Industries	$3,394,000	–	32,587	–	1.80%	–
DPS	New	Dr Pepper Snapple Group Inc	$3,251,000	–	33,646	–	1.72%	–
CHKP	New	Check Point Software	$3,119,000	–	39,146	–	1.65%	–
MTD	New	Mettler Toledo Intl	$3,106,000	–	8,512	–	1.64%	–
AME	New	Ametek	$3,047,000	–	65,918	–	1.61%	–
TSM	New	Taiwan Semiconductor Mfg ADR	$3,026,000	–	115,367	–	1.60%	–
ANSS	New	Ansys	$3,026,000	–	33,340	–	1.60%	–
GOOGL	New	Alphabet Inc	$2,970,000	–	4,222	–	1.57%	–
BCR	New	Bard C R Inc N J Com	$2,871,000	–	12,208	–	1.52%	–
RPM	New	RPM	$2,826,000	–	56,570	–	1.50%	–
SNA	New	Snap-On Inc	$2,804,000	–	17,766	–	1.48%	–
CELG	New	Celgene Corp	$2,529,000	–	25,637	–	1.34%	–
AON	New	Aon PLC	$2,460,000	–	22,519	–	1.30%	–
AZO	New	Autozone	$2,436,000	–	3,068	–	1.29%	–
PSA	New	Public Storage Com	$2,337,000	–	9,144	–	1.24%	–
CVS	New	CVS Health Corp	$2,283,000	–	23,851	–	1.21%	–
ITW	New	Illinois Tool Works	$2,139,000	–	20,532	–	1.13%	–
WPP	New	WPP PLC ADR New	$2,135,000	–	20,427	–	1.13%	–
TROW	New	TRPrice Assoc	$2,043,000	–	27,996	–	1.08%	–
CTSH	New	Cognizant Tech	$1,887,000	–	32,962	–	1.00%	–
WFC	New	Wells Fargo & Co	$1,771,000	–	37,425	–	0.94%	–
HON	New	Honeywell	$1,706,000	–	14,664	–	0.90%	–
EFX	New	Equifax	$1,646,000	–	12,822	–	0.87%	–
APD	New	Air Products & Chemicals	$1,462,000	–	10,295	–	0.77%	–
BDX	New	Becton Dickinson & Co	$1,346,000	–	7,936	–	0.71%	–
CNI	New	Canadian National Railway Corp	$1,331,000	–	22,539	–	0.70%	–
GILD	New	Gilead Sciences	$1,184,000	–	14,195	–	0.63%	–
VFC	New	V F Corp	$1,130,000	–	18,378	–	0.60%	–
BMY	New	Bristol-Myers Squibb	$1,070,000	–	14,550	–	0.57%	–
JNJ	New	Johnson & Johnson	$1,046,000	–	8,626	–	0.55%	–
COST	New	Costco Wholesale	$1,039,000	–	6,616	–	0.55%	–
NVS	New	Novartis AG ADR	$994,000	–	12,052	–	0.53%	–
SLB	New	Schlumberger Ltd	$959,000	–	12,129	–	0.51%	–
PCLN	New	Priceline	$719,000	–	576	–	0.38%	–
D	New	Dominion Resources	$619,000	–	7,949	–	0.33%	–
CVX	New	Chevron Texaco Corp	$605,000	–	5,775	–	0.32%	–
NEE	New	NextEra Energy	$596,000	–	4,569	–	0.32%	–
MAR	New	Marriott Intl New Cl A	$579,000	–	8,712	–	0.31%	–
UTX	New	United Technologies	$569,000	–	5,548	–	0.30%	–
ABT	New	Abbott Laboratories	$527,000	–	13,415	–	0.28%	–
MRK	New	Merck & Co New	$470,000	–	8,152	–	0.25%	–
XOM	New	Exxon Mobil Corp	$432,000	–	4,610	–	0.23%	–
CLX	New	Clorox Co	$367,000	–	2,651	–	0.19%	–
HD	New	Home Depot	$338,000	–	2,650	–	0.18%	–
CTXS	New	Citrix Systems	$322,000	–	4,015	–	0.17%	–
PAYX	New	Paychex	$309,000	–	5,200	–	0.16%	–
FDS	New	Factset Research System	$303,000	–	1,880	–	0.16%	–
XEC	New	Cimarex Energy Co	$239,000	–	2,000	–	0.13%	–
KNX	New	Knight Transn	$233,000	–	8,750	–	0.12%	–
RAI	New	Reynolds America	$224,000	–	4,158	–	0.12%	–
VZ	New	Verizon Communication	$222,000	–	3,972	–	0.12%	–
NBL	New	Noble Energy	$206,000	–	5,750	–	0.11%	–

Q4 2015

			Value		Shares		↓ Weighting
WBA	Exit	Walgreen Boots Alliance Inc	$0	–	-2,450	–	-0.11%	–
XEC	Exit	Cimarex Energy Co	$0	–	-2,000	–	-0.11%	–
KNX	Exit	Knight Transn	$0	–	-8,750	–	-0.12%	–
PAYX	Exit	Paychex	$0	–	-6,200	–	-0.16%	–
AON	Exit	Aon PLC	$0	–	-3,411	–	-0.17%	–
HD	Exit	Home Depot	$0	–	-2,650	–	-0.17%	–
FDS	Exit	Factset Research System	$0	–	-1,980	–	-0.18%	–
CTXS	Exit	Citrix Systems	$0	–	-4,693	–	-0.18%	–
CLX	Exit	Clorox Co	$0	–	-2,861	–	-0.18%	–
DCI	Exit	Donaldson Co	$0	–	-12,626	–	-0.20%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-5,078	–	-0.21%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-1,450	–	-0.23%	–
MRK	Exit	Merck & Co New	$0	–	-8,552	–	-0.24%	–
IHG	Exit	InterContinental Htls Gp PLC S	$0	–	-13,627	–	-0.26%	–
WPP	Exit	WPP PLC ADR New	$0	–	-4,750	–	-0.28%	–
ITW	Exit	Illinois Tool Works	$0	–	-6,108	–	-0.28%	–
D	Exit	Dominion Resources	$0	–	-7,365	–	-0.29%	–
NEE	Exit	NextEra Energy	$0	–	-5,378	–	-0.29%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-5,354	–	-0.40%	–
BCR	Exit	Bard C R Inc N J Com	$0	–	-4,325	–	-0.45%	–
TROW	Exit	TRPrice Assoc	$0	–	-11,923	–	-0.46%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-14,650	–	-0.48%	–
JNJ	Exit	Johnson & Johnson	$0	–	-9,351	–	-0.49%	–
SLB	Exit	Schlumberger Ltd	$0	–	-12,765	–	-0.49%	–
WFC	Exit	Wells Fargo & Co	$0	–	-17,947	–	-0.51%	–
AJG	Exit	Arthur J. Gallagher & Co	$0	–	-24,201	–	-0.56%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-13,220	–	-0.58%	–
PPG	Exit	PPG Industries	$0	–	-12,634	–	-0.62%	–
HON	Exit	Honeywell	$0	–	-12,234	–	-0.65%	–
VFC	Exit	V F Corp	$0	–	-20,601	–	-0.78%	–
GOOGL	Exit	Google Cl A	$0	–	-2,511	–	-0.89%	–
RPM	Exit	RPM	$0	–	-39,815	–	-0.93%	–
PX	Exit	Praxair	$0	–	-16,527	–	-0.94%	–
SNA	Exit	Snap-On Inc	$0	–	-11,210	–	-0.94%	–
ESRX	Exit	Express Scripts Hldg Co	$0	–	-21,788	–	-0.98%	–
UTX	Exit	United Technologies	$0	–	-20,410	–	-1.01%	–
CMI	Exit	Cummins	$0	–	-17,280	–	-1.05%	–
PSA	Exit	Public Storage Com	$0	–	-8,954	–	-1.06%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-35,156	–	-1.11%	–
CVS	Exit	CVS Health Corp	$0	–	-21,065	–	-1.13%	–
SBUX	Exit	Starbucks Corp	$0	–	-35,783	–	-1.13%	–
TSM	Exit	Taiwan Semiconductor Mfg ADR	$0	–	-98,282	–	-1.14%	–
CTSH	Exit	Cognizant Tech	$0	–	-34,741	–	-1.21%	–
AZO	Exit	Autozone	$0	–	-3,049	–	-1.23%	–
TTC	Exit	Toro Co	$0	–	-31,843	–	-1.25%	–
CHKP	Exit	Check Point Software	$0	–	-28,992	–	-1.28%	–
DPS	Exit	Dr Pepper Snapple Group Inc	$0	–	-34,038	–	-1.50%	–
CELG	Exit	Celgene Corp	$0	–	-24,966	–	-1.51%	–
GWW	Exit	Grainger (WW)	$0	–	-12,909	–	-1.55%	–
AMGN	Exit	Amgen	$0	–	-20,406	–	-1.57%	–
ANSS	Exit	Ansys	$0	–	-33,029	–	-1.62%	–
MKC	Exit	McCormick & Co	$0	–	-36,622	–	-1.68%	–
DVA	Exit	Davita Healthcare Partners	$0	–	-45,355	–	-1.83%	–
NKE	Exit	Nike Cl B	$0	–	-27,313	–	-1.87%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-28,923	–	-1.97%	–
FISV	Exit	Fiserv	$0	–	-45,535	–	-2.20%	–
APH	Exit	Amphenol Corp New Cl A	$0	–	-77,744	–	-2.21%	–
ADP	Exit	Automatic Data Proc	$0	–	-49,329	–	-2.21%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-72,174	–	-2.29%	–
ABT	Exit	Abbott Laboratories	$0	–	-104,019	–	-2.33%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-16,901	–	-2.36%	–
AME	Exit	Ametek	$0	–	-80,790	–	-2.36%	–
INTU	Exit	Intuit	$0	–	-48,635	–	-2.41%	–
HSIC	Exit	Henry Schein	$0	–	-33,092	–	-2.45%	–
IDXX	Exit	Idexx Labs	$0	–	-59,859	–	-2.48%	–
NVS	Exit	Novartis AG ADR	$0	–	-49,083	–	-2.52%	–
CHD	Exit	Church & Dwight	$0	–	-55,248	–	-2.58%	–
ECL	Exit	Ecolab	$0	–	-45,129	–	-2.76%	–
DHR	Exit	Danaher Corp	$0	–	-58,162	–	-2.76%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-54,482	–	-2.98%	–
SRCL	Exit	Stericycle	$0	–	-38,663	–	-3.00%	–
MA	Exit	MasterCard Worldwide	$0	–	-60,817	–	-3.06%	–
ROP	Exit	Roper Technologies Inc	$0	–	-35,399	–	-3.09%	–
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-124,175	–	-3.76%	–
SIAL	Exit	Sigma-Aldrich Corp	$0	–	-48,575	–	-3.76%	–
AAPL	Exit	Apple Computer	$0	–	-63,225	–	-3.89%	–

Q3 2015

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Computer	$6,974,000	-12.0%	63,225	+0.1%	3.89%	-2.2%
SIAL	Sell	Sigma-Aldrich Corp	$6,748,000	-0.7%	48,575	-0.4%	3.76%	+10.3%
NVO	Buy	Novo Nordisk Spons ADR	$6,735,000	-0.3%	124,175	+0.7%	3.76%	+10.8%
ROP	Buy	Roper Technologies Inc	$5,547,000	-8.5%	35,399	+0.7%	3.09%	+1.6%
MA	Buy	MasterCard Worldwide	$5,481,000	+2.4%	60,817	+6.2%	3.06%	+13.7%
SRCL	Sell	Stericycle	$5,386,000	+4.0%	38,663	-0.0%	3.00%	+15.5%
ACN	Buy	Accenture PLC Cl A	$5,353,000	+2.0%	54,482	+0.5%	2.98%	+13.3%
DHR	Buy	Danaher Corp	$4,956,000	-0.4%	58,162	+0.0%	2.76%	+10.6%
ECL	Sell	Ecolab	$4,952,000	-16.4%	45,129	-13.8%	2.76%	-7.1%
CHD	Buy	Church & Dwight	$4,635,000	+3.6%	55,248	+0.2%	2.58%	+15.1%
NVS	Buy	Novartis AG ADR	$4,512,000	-6.1%	49,083	+0.4%	2.52%	+4.3%
IDXX	Buy	Idexx Labs	$4,445,000	+16.3%	59,859	+0.5%	2.48%	+29.2%
HSIC	Buy	Henry Schein	$4,392,000	-6.4%	33,092	+0.3%	2.45%	+4.0%
INTU	Sell	Intuit	$4,316,000	-12.0%	48,635	-0.1%	2.41%	-2.2%
AME	Buy	Ametek	$4,227,000	-3.3%	80,790	+1.2%	2.36%	+7.4%
ORLY	Sell	O'Reilly Automotive New	$4,225,000	-13.1%	16,901	-21.5%	2.36%	-3.5%
ABT	Buy	Abbott Laboratories	$4,184,000	-17.9%	104,019	+0.2%	2.33%	-8.8%
CMCSA	Buy	Comcast Corp New Cl A	$4,105,000	-5.1%	72,174	+0.3%	2.29%	+5.4%
ADP	Buy	Automatic Data Proc	$3,964,000	+27.4%	49,329	+27.2%	2.21%	+41.5%
APH	Buy	Amphenol Corp New Cl A	$3,962,000	-12.0%	77,744	+0.1%	2.21%	-2.3%
FISV	Sell	Fiserv	$3,944,000	-15.8%	45,535	-19.4%	2.20%	-6.4%
TMO	Buy	Thermo Fisher Scientific	$3,537,000	-5.2%	28,923	+0.6%	1.97%	+5.3%
NKE	Buy	Nike Cl B	$3,359,000	+16.0%	27,313	+1.9%	1.87%	+28.8%
DVA	Sell	Davita Healthcare Partners	$3,281,000	-9.3%	45,355	-0.4%	1.83%	+0.8%
MKC	Buy	McCormick & Co	$3,010,000	+3.5%	36,622	+2.0%	1.68%	+15.0%
ANSS	Buy	Ansys	$2,911,000	-1.7%	33,029	+1.8%	1.62%	+9.2%
AMGN	Sell	Amgen	$2,823,000	-19.6%	20,406	-10.8%	1.57%	-10.8%
GWW	Sell	Grainger (WW)	$2,776,000	-9.3%	12,909	-0.2%	1.55%	+0.7%
CELG	Sell	Celgene Corp	$2,701,000	-17.4%	24,966	-11.7%	1.51%	-8.3%
DPS	Sell	Dr Pepper Snapple Group Inc	$2,691,000	+8.3%	34,038	-0.1%	1.50%	+20.4%
CHKP	Buy	Check Point Software	$2,300,000	-0.1%	28,992	+0.1%	1.28%	+11.0%
TTC	Buy	Toro Co	$2,246,000	+4.7%	31,843	+0.6%	1.25%	+16.2%
AZO	Sell	Autozone	$2,207,000	-11.1%	3,049	-18.1%	1.23%	-1.2%
CTSH	Buy	Cognizant Tech	$2,175,000	+3.8%	34,741	+1.2%	1.21%	+15.3%
TSM	Sell	Taiwan Semiconductor Mfg ADR	$2,039,000	-8.9%	98,282	-0.3%	1.14%	+1.2%
SBUX	Buy	Starbucks Corp	$2,034,000	+7.7%	35,783	+1.6%	1.13%	+19.6%
CVS	Buy	CVS Health Corp	$2,032,000	+143.6%	21,065	+164.9%	1.13%	+170.4%
CNI	Sell	Canadian National Railway Corp	$1,995,000	-43.4%	35,156	-42.4%	1.11%	-37.2%
PSA	Buy	Public Storage Com	$1,895,000	+15.0%	8,954	+0.2%	1.06%	+27.8%
CMI	Sell	Cummins	$1,876,000	-18.7%	17,280	-1.8%	1.05%	-9.7%
UTX	Sell	United Technologies	$1,816,000	-54.7%	20,410	-43.5%	1.01%	-49.7%
ESRX	Sell	Express Scripts Hldg Co	$1,764,000	-9.3%	21,788	-0.4%	0.98%	+0.8%
SNA	Buy	Snap-On Inc	$1,692,000	+28.0%	11,210	+35.1%	0.94%	+42.2%
PX	Sell	Praxair	$1,683,000	-40.4%	16,527	-30.1%	0.94%	-33.9%
RPM	Buy	RPM	$1,668,000	-14.0%	39,815	+0.5%	0.93%	-4.5%
GOOGL	Buy	Google Cl A	$1,603,000	+20.9%	2,511	+2.3%	0.89%	+34.2%
VFC	Buy	V F Corp	$1,405,000	+1.9%	20,601	+4.2%	0.78%	+13.2%
HON	Buy	Honeywell	$1,158,000	-4.1%	12,234	+3.4%	0.65%	+6.6%
PPG	Buy	PPG Industries	$1,108,000	-23.4%	12,634	+0.2%	0.62%	-14.9%
CVX	Sell	Chevron Texaco Corp	$1,043,000	-63.5%	13,220	-55.4%	0.58%	-59.4%
AJG	Sell	Arthur J. Gallagher & Co	$999,000	-12.8%	24,201	-0.0%	0.56%	-3.1%
WFC	Buy	Wells Fargo & Co	$922,000	-3.9%	17,947	+5.3%	0.51%	+6.9%
SLB	Sell	Schlumberger Ltd	$880,000	-68.2%	12,765	-60.3%	0.49%	-64.7%
TROW	Sell	TRPrice Assoc	$829,000	-23.5%	11,923	-14.4%	0.46%	-15.1%
BCR	Buy	Bard C R Inc N J Com	$806,000	+15.1%	4,325	+5.5%	0.45%	+27.9%
BDX	Buy	Becton Dickinson & Co	$710,000	+1.1%	5,354	+8.0%	0.40%	+12.5%
NEE	Sell	NextEra Energy	$525,000	-1.1%	5,378	-0.8%	0.29%	+9.7%
D	Sell	Dominion Resources	$518,000	+5.1%	7,365	-0.0%	0.29%	+17.0%
ITW	Buy	Illinois Tool Works	$503,000	-9.2%	6,108	+1.2%	0.28%	+0.7%
WPP	Buy	WPP PLC ADR New	$494,000	-6.3%	4,750	+1.6%	0.28%	+3.8%
IHG	Sell	InterContinental Htls Gp PLC S	$472,000	-21.7%	13,627	-8.6%	0.26%	-13.2%
MRK	Sell	Merck & Co New	$422,000	-15.8%	8,552	-2.8%	0.24%	-6.7%
MTD	Buy	Mettler Toledo Intl	$413,000	-13.6%	1,450	+3.6%	0.23%	-4.2%
XOM	Sell	Exxon Mobil Corp	$378,000	-23.2%	5,078	-14.1%	0.21%	-14.6%
CLX	Sell	Clorox Co	$330,000	+10.0%	2,861	-0.9%	0.18%	+21.9%
HD	Buy	Home Depot	$306,000	+7.0%	2,650	+2.9%	0.17%	+18.8%
AON	Buy	Aon PLC	$302,000	+22.3%	3,411	+37.8%	0.17%	+35.5%
KNX	Sell	Knight Transn	$210,000	-17.3%	8,750	-7.9%	0.12%	-8.6%
XEC	Sell	Cimarex Energy Co	$205,000	-25.7%	2,000	-20.0%	0.11%	-18.0%
WBA	Sell	Walgreen Boots Alliance Inc	$204,000	-12.1%	2,450	-10.9%	0.11%	-1.7%
TRMB	Exit	Trimble Navigation Ltd	$0	–	-8,641	–	-0.10%	–
GILD	Exit	Gilead Sciences	$0	–	-1,925	–	-0.11%	–
MCK	Exit	McKesson HBOC Corp	$0	–	-1,040	–	-0.12%	–
NBL	Exit	Noble Energy	$0	–	-5,950	–	-0.13%	–
ENB	Exit	Enbridge	$0	–	-11,464	–	-0.27%	–
KMI	Exit	Kinder Morgan Inc	$0	–	-18,588	–	-0.36%	–
EOG	Exit	EOG Resources	$0	–	-14,550	–	-0.64%	–
TD	Exit	Toronto-Dominion Bk	$0	–	-30,965	–	-0.66%	–

Q2 2015

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer	$7,923,000	–	63,166	–	3.98%	–
SIAL	New	Sigma-Aldrich Corp	$6,796,000	–	48,771	–	3.41%	–
NVO	New	Novo Nordisk Spons ADR	$6,754,000	–	123,334	–	3.39%	–
ROP	New	Roper Technologies Inc	$6,065,000	–	35,169	–	3.04%	–
ECL	New	Ecolab	$5,920,000	–	52,361	–	2.97%	–
MA	New	MasterCard Worldwide	$5,352,000	–	57,255	–	2.69%	–
ACN	New	Accenture PLC Cl A	$5,249,000	–	54,236	–	2.64%	–
SRCL	New	Stericycle	$5,179,000	–	38,675	–	2.60%	–
ABT	New	Abbott Laboratories	$5,096,000	–	103,837	–	2.56%	–
DHR	New	Danaher Corp	$4,976,000	–	58,141	–	2.50%	–
INTU	New	Intuit	$4,904,000	–	48,670	–	2.46%	–
ORLY	New	O'Reilly Automotive New	$4,862,000	–	21,517	–	2.44%	–
NVS	New	Novartis AG ADR	$4,807,000	–	48,884	–	2.41%	–
HSIC	New	Henry Schein	$4,691,000	–	33,006	–	2.36%	–
FISV	New	Fiserv	$4,682,000	–	56,528	–	2.35%	–
APH	New	Amphenol Corp New Cl A	$4,502,000	–	77,659	–	2.26%	–
CHD	New	Church & Dwight	$4,474,000	–	55,142	–	2.25%	–
AME	New	Ametek	$4,372,000	–	79,813	–	2.20%	–
CMCSA	New	Comcast Corp New Cl A	$4,327,000	–	71,943	–	2.17%	–
UTX	New	United Technologies	$4,007,000	–	36,120	–	2.01%	–
IDXX	New	Idexx Labs	$3,821,000	–	59,577	–	1.92%	–
TMO	New	Thermo Fisher Scientific	$3,731,000	–	28,753	–	1.87%	–
DVA	New	Davita Healthcare Partners	$3,618,000	–	45,525	–	1.82%	–
CNI	New	Canadian National Railway Corp	$3,526,000	–	61,055	–	1.77%	–
AMGN	New	Amgen	$3,513,000	–	22,886	–	1.76%	–
CELG	New	Celgene Corp	$3,271,000	–	28,265	–	1.64%	–
ADP	New	Automatic Data Proc	$3,112,000	–	38,790	–	1.56%	–
GWW	New	Grainger (WW)	$3,061,000	–	12,934	–	1.54%	–
ANSS	New	Ansys	$2,960,000	–	32,441	–	1.49%	–
MKC	New	McCormick & Co	$2,907,000	–	35,909	–	1.46%	–
NKE	New	Nike Cl B	$2,896,000	–	26,807	–	1.45%	–
CVX	New	Chevron Texaco Corp	$2,859,000	–	29,634	–	1.44%	–
PX	New	Praxair	$2,825,000	–	23,630	–	1.42%	–
SLB	New	Schlumberger Ltd	$2,768,000	–	32,115	–	1.39%	–
DPS	New	Dr Pepper Snapple Group Inc	$2,484,000	–	34,071	–	1.25%	–
AZO	New	Autozone	$2,483,000	–	3,724	–	1.25%	–
CMI	New	Cummins	$2,308,000	–	17,594	–	1.16%	–
CHKP	New	Check Point Software	$2,303,000	–	28,957	–	1.16%	–
TSM	New	Taiwan Semiconductor Mfg ADR	$2,239,000	–	98,571	–	1.12%	–
TTC	New	Toro Co	$2,146,000	–	31,657	–	1.08%	–
CTSH	New	Cognizant Tech	$2,096,000	–	34,314	–	1.05%	–
ESRX	New	Express Scripts Hldg Co	$1,945,000	–	21,874	–	0.98%	–
RPM	New	RPM	$1,940,000	–	39,610	–	0.97%	–
SBUX	New	Starbucks Corp	$1,888,000	–	35,206	–	0.95%	–
PSA	New	Public Storage Com	$1,648,000	–	8,939	–	0.83%	–
PPG	New	PPG Industries	$1,447,000	–	12,609	–	0.73%	–
VFC	New	V F Corp	$1,379,000	–	19,771	–	0.69%	–
GOOGL	New	Google Cl A	$1,326,000	–	2,455	–	0.67%	–
SNA	New	Snap-On Inc	$1,322,000	–	8,300	–	0.66%	–
TD	New	Toronto-Dominion Bk	$1,316,000	–	30,965	–	0.66%	–
EOG	New	EOG Resources	$1,274,000	–	14,550	–	0.64%	–
HON	New	Honeywell	$1,207,000	–	11,832	–	0.61%	–
AJG	New	Arthur J. Gallagher & Co	$1,145,000	–	24,210	–	0.58%	–
TROW	New	TRPrice Assoc	$1,083,000	–	13,927	–	0.54%	–
BMY	New	Bristol-Myers Squibb	$975,000	–	14,650	–	0.49%	–
WFC	New	Wells Fargo & Co	$959,000	–	17,050	–	0.48%	–
JNJ	New	Johnson & Johnson	$911,000	–	9,351	–	0.46%	–
CVS	New	CVS Health Corp	$834,000	–	7,951	–	0.42%	–
KMI	New	Kinder Morgan Inc	$714,000	–	18,588	–	0.36%	–
BDX	New	Becton Dickinson & Co	$702,000	–	4,957	–	0.35%	–
BCR	New	Bard C R Inc N J Com	$700,000	–	4,100	–	0.35%	–
IHG	New	InterContinental Htls Gp PLC S	$603,000	–	14,915	–	0.30%	–
ITW	New	Illinois Tool Works	$554,000	–	6,034	–	0.28%	–
ENB	New	Enbridge	$536,000	–	11,464	–	0.27%	–
NEE	New	NextEra Energy	$531,000	–	5,421	–	0.27%	–
WPP	New	WPP PLC ADR New	$527,000	–	4,677	–	0.26%	–
MRK	New	Merck & Co New	$501,000	–	8,802	–	0.25%	–
D	New	Dominion Resources	$493,000	–	7,368	–	0.25%	–
XOM	New	Exxon Mobil Corp	$492,000	–	5,911	–	0.25%	–
MTD	New	Mettler Toledo Intl	$478,000	–	1,400	–	0.24%	–
DCI	New	Donaldson Co	$452,000	–	12,626	–	0.23%	–
CTXS	New	Citrix Systems	$329,000	–	4,693	–	0.16%	–
FDS	New	Factset Research System	$322,000	–	1,980	–	0.16%	–
CLX	New	Clorox Co	$300,000	–	2,887	–	0.15%	–
PAYX	New	Paychex	$291,000	–	6,200	–	0.15%	–
HD	New	Home Depot	$286,000	–	2,575	–	0.14%	–
XEC	New	Cimarex Energy Co	$276,000	–	2,500	–	0.14%	–
NBL	New	Noble Energy	$254,000	–	5,950	–	0.13%	–
KNX	New	Knight Transn	$254,000	–	9,500	–	0.13%	–
AON	New	Aon PLC	$247,000	–	2,475	–	0.12%	–
MCK	New	McKesson HBOC Corp	$234,000	–	1,040	–	0.12%	–
WBA	New	Walgreen Boots Alliance Inc	$232,000	–	2,750	–	0.12%	–
GILD	New	Gilead Sciences	$225,000	–	1,925	–	0.11%	–
TRMB	New	Trimble Navigation Ltd	$203,000	–	8,641	–	0.10%	–

Q4 2014

			Value		Shares		↓ Weighting
HD	Exit	Home Depot	$0	–	-2,275	–	-0.11%	–
DOV	Exit	Dover Corp	$0	–	-2,650	–	-0.11%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-1,975	–	-0.11%	–
STR	Exit	Questar Corp	$0	–	-10,686	–	-0.12%	–
FDS	Exit	Factset Research System	$0	–	-2,095	–	-0.13%	–
KNX	Exit	Knight Transn	$0	–	-9,500	–	-0.13%	–
IBM	Exit	Intl Business Mach	$0	–	-1,430	–	-0.14%	–
CLX	Exit	Clorox Co	$0	–	-2,847	–	-0.14%	–
PAYX	Exit	Paychex	$0	–	-6,700	–	-0.15%	–
HON	Exit	Honeywell	$0	–	-3,350	–	-0.16%	–
XEC	Exit	Cimarex Energy Co	$0	–	-2,500	–	-0.16%	–
WFC	Exit	Wells Fargo & Co	$0	–	-6,401	–	-0.17%	–
CVS	Exit	CVS Health Corp	$0	–	-4,300	–	-0.18%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-1,375	–	-0.18%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-4,060	–	-0.20%	–
KMI	Exit	Kinder Morgan Inc	$0	–	-10,000	–	-0.20%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-3,494	–	-0.20%	–
NBL	Exit	Noble Energy	$0	–	-5,950	–	-0.21%	–
ITW	Exit	Illinois Tool Works	$0	–	-4,963	–	-0.22%	–
D	Exit	Dominion Resources	$0	–	-7,298	–	-0.26%	–
MRK	Exit	Merck & Co New	$0	–	-8,802	–	-0.27%	–
BCR	Exit	Bard C R Inc N J Com	$0	–	-3,775	–	-0.28%	–
CTXS	Exit	Citrix Systems	$0	–	-8,156	–	-0.30%	–
ENB	Exit	Enbridge	$0	–	-12,357	–	-0.30%	–
IHG	Exit	InterContinental Htls Gp PLC S	$0	–	-18,437	–	-0.37%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-14,650	–	-0.38%	–
NOV	Exit	National Oilwell Varco	$0	–	-10,050	–	-0.39%	–
SJM	Exit	Smucker (JM)	$0	–	-8,100	–	-0.41%	–
BMO	Exit	Bank of Montreal	$0	–	-11,417	–	-0.43%	–
CLB	Exit	Core Laboratories NV	$0	–	-5,900	–	-0.44%	–
SBUX	Exit	Starbucks Corp	$0	–	-12,841	–	-0.50%	–
JNJ	Exit	Johnson & Johnson	$0	–	-9,476	–	-0.52%	–
BCE	Exit	BCE New	$0	–	-25,575	–	-0.56%	–
PPG	Exit	PPG Industries	$0	–	-5,605	–	-0.57%	–
MRO	Exit	Marathon Oil Corp	$0	–	-29,725	–	-0.57%	–
DCI	Exit	Donaldson Co	$0	–	-27,541	–	-0.57%	–
QCOM	Exit	Qualcomm	$0	–	-15,235	–	-0.58%	–
TROW	Exit	TRPrice Assoc	$0	–	-14,897	–	-0.60%	–
VFC	Exit	V F Corp	$0	–	-17,970	–	-0.61%	–
NEE	Exit	NextEra Energy	$0	–	-12,818	–	-0.62%	–
NSRGY	Exit	Nestle S.A. Spons ADR	$0	–	-16,949	–	-0.64%	–
RPM	Exit	RPM	$0	–	-28,153	–	-0.66%	–
AJG	Exit	Arthur J. Gallagher & Co	$0	–	-29,485	–	-0.69%	–
GOOGL	Exit	Google Cl A	$0	–	-2,338	–	-0.71%	–
PSA	Exit	Public Storage Com	$0	–	-8,345	–	-0.71%	–
ESRX	Exit	Express Scripts Hldg Co	$0	–	-20,727	–	-0.75%	–
CTSH	Exit	Cognizant Tech	$0	–	-33,745	–	-0.78%	–
TSM	Exit	Taiwan Semiconductor Mfg ADR	$0	–	-80,740	–	-0.84%	–
TTC	Exit	Toro Co	$0	–	-29,509	–	-0.90%	–
CHKP	Exit	Check Point Software	$0	–	-25,365	–	-0.90%	–
AZO	Exit	Autozone	$0	–	-3,529	–	-0.92%	–
KEX	Exit	Kirby Corp	$0	–	-15,739	–	-0.95%	–
NKE	Exit	Nike Cl B	$0	–	-23,075	–	-1.06%	–
DPS	Exit	Dr Pepper Snapple Group Inc	$0	–	-34,041	–	-1.12%	–
SLB	Exit	Schlumberger Ltd	$0	–	-21,850	–	-1.14%	–
CMI	Exit	Cummins	$0	–	-17,251	–	-1.17%	–
MKC	Exit	McCormick & Co	$0	–	-35,675	–	-1.22%	–
TRMB	Exit	Trimble Navigation Ltd	$0	–	-79,187	–	-1.24%	–
ANSS	Exit	Ansys	$0	–	-38,535	–	-1.50%	–
ADP	Exit	Automatic Data Proc	$0	–	-37,012	–	-1.58%	–
AMGN	Exit	Amgen	$0	–	-22,943	–	-1.65%	–
DVA	Exit	Davita Healthcare Partners	$0	–	-44,400	–	-1.67%	–
TD	Exit	Toronto-Dominion Bk	$0	–	-65,874	–	-1.67%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-22,554	–	-1.74%	–
CELG	Exit	Celgene Corp	$0	–	-36,566	–	-1.78%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-28,537	–	-1.78%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-67,443	–	-1.86%	–
IDXX	Exit	Idexx Labs	$0	–	-31,403	–	-1.90%	–
HSIC	Exit	Henry Schein	$0	–	-32,279	–	-1.93%	–
PX	Exit	Praxair	$0	–	-29,429	–	-1.95%	–
FISV	Exit	Fiserv	$0	–	-59,369	–	-1.97%	–
APH	Exit	Amphenol Corp New Cl A	$0	–	-40,305	–	-2.07%	–
MA	Exit	MasterCard Worldwide	$0	–	-56,446	–	-2.14%	–
INTU	Exit	Intuit	$0	–	-47,844	–	-2.15%	–
UTX	Exit	United Technologies	$0	–	-40,036	–	-2.17%	–
ABT	Exit	Abbott Laboratories	$0	–	-101,905	–	-2.18%	–
DHR	Exit	Danaher Corp	$0	–	-56,019	–	-2.18%	–
GWW	Exit	Grainger (WW)	$0	–	-17,010	–	-2.20%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-53,433	–	-2.23%	–
AME	Exit	Ametek	$0	–	-87,143	–	-2.24%	–
SRCL	Exit	Stericycle	$0	–	-37,614	–	-2.25%	–
CHD	Exit	Church & Dwight	$0	–	-62,740	–	-2.26%	–
NVS	Exit	Novartis AG ADR	$0	–	-49,012	–	-2.37%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-39,089	–	-2.39%	–
ROP	Exit	Roper Inds New Com	$0	–	-35,207	–	-2.64%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-75,948	–	-2.77%	–
ECL	Exit	Ecolab	$0	–	-51,333	–	-3.03%	–
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-143,117	–	-3.50%	–
SIAL	Exit	Sigma-Aldrich Corp	$0	–	-51,305	–	-3.58%	–
AAPL	Exit	Apple Computer	$0	–	-72,120	–	-3.73%	–

Q3 2014

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Computer	$7,266,000	+11.0%	72,120	+2.4%	3.73%	+9.2%
SIAL	Sell	Sigma-Aldrich Corp	$6,978,000	+30.5%	51,305	-2.6%	3.58%	+28.4%
NVO	Sell	Novo Nordisk Spons ADR	$6,815,000	+1.0%	143,117	-2.0%	3.50%	-0.6%
ECL	Sell	Ecolab	$5,895,000	-0.4%	51,333	-3.5%	3.03%	-2.0%
CNI	Buy	Canadian National Railway Corp	$5,389,000	+23.9%	75,948	+13.5%	2.77%	+21.9%
ROP	Sell	Roper Inds New Com	$5,150,000	-0.3%	35,207	-0.5%	2.64%	-1.9%
CVX	Sell	Chevron Texaco Corp	$4,664,000	-15.0%	39,089	-7.0%	2.39%	-16.4%
NVS	Buy	Novartis AG ADR	$4,614,000	+73.1%	49,012	+66.4%	2.37%	+70.2%
CHD	Sell	Church & Dwight	$4,402,000	+0.3%	62,740	-0.0%	2.26%	-1.4%
SRCL	Buy	Stericycle	$4,384,000	-0.2%	37,614	+1.4%	2.25%	-1.8%
AME	Sell	Ametek	$4,375,000	-6.7%	87,143	-2.9%	2.24%	-8.2%
ACN	Sell	Accenture PLC Cl A	$4,345,000	-9.5%	53,433	-10.0%	2.23%	-10.9%
GWW	Sell	Grainger (WW)	$4,281,000	-6.4%	17,010	-5.5%	2.20%	-7.9%
DHR	Buy	Danaher Corp	$4,256,000	+4.9%	56,019	+8.7%	2.18%	+3.2%
ABT	Buy	Abbott Laboratories	$4,238,000	+64.8%	101,905	+62.1%	2.18%	+62.1%
UTX	Sell	United Technologies	$4,228,000	-9.7%	40,036	-1.2%	2.17%	-11.1%
INTU	Buy	Intuit	$4,194,000	+12.4%	47,844	+3.2%	2.15%	+10.6%
MA	Sell	MasterCard Worldwide	$4,172,000	-4.8%	56,446	-5.4%	2.14%	-6.4%
APH	Sell	Amphenol Corp New Cl A	$4,025,000	+2.1%	40,305	-1.5%	2.07%	+0.5%
FISV	Sell	Fiserv	$3,837,000	+5.5%	59,369	-1.5%	1.97%	+3.8%
PX	Sell	Praxair	$3,796,000	-7.3%	29,429	-4.6%	1.95%	-8.8%
HSIC	Sell	Henry Schein	$3,760,000	-2.4%	32,279	-0.6%	1.93%	-3.9%
IDXX	Sell	Idexx Labs	$3,700,000	-13.9%	31,403	-2.4%	1.90%	-15.3%
CMCSA	Buy	Comcast Corp New Cl A	$3,627,000	+7.9%	67,443	+7.7%	1.86%	+6.2%
TMO	Buy	Thermo Fisher Scientific	$3,473,000	+39.5%	28,537	+35.2%	1.78%	+37.3%
CELG	Buy	Celgene Corp	$3,466,000	+11.4%	36,566	+1.0%	1.78%	+9.6%
ORLY	Sell	O'Reilly Automotive New	$3,391,000	-10.6%	22,554	-10.5%	1.74%	-12.1%
TD	Buy	Toronto-Dominion Bk	$3,254,000	-0.9%	65,874	+3.2%	1.67%	-2.5%
DVA	Buy	Davita Healthcare Partners	$3,247,000	+19.9%	44,400	+18.5%	1.67%	+18.0%
AMGN	Buy	Amgen	$3,223,000	+51.0%	22,943	+27.2%	1.65%	+48.6%
ADP	Buy	Automatic Data Proc	$3,075,000	+84.5%	37,012	+76.0%	1.58%	+81.6%
ANSS	Buy	Ansys	$2,916,000	+25.3%	38,535	+25.5%	1.50%	+23.3%
TRMB	Buy	Trimble Navigation Ltd	$2,415,000	-14.9%	79,187	+3.1%	1.24%	-16.3%
MKC	Sell	McCormick & Co	$2,387,000	-7.8%	35,675	-1.3%	1.22%	-9.3%
CMI	Sell	Cummins	$2,277,000	-14.6%	17,251	-0.1%	1.17%	-15.9%
SLB	New	Schlumberger Ltd	$2,222,000	–	21,850	–	1.14%	–
DPS	Buy	Dr Pepper Snapple Group Inc	$2,189,000	+30.5%	34,041	+18.9%	1.12%	+28.3%
NKE	Buy	Nike Cl B	$2,058,000	+17.5%	23,075	+2.2%	1.06%	+15.7%
KEX	Buy	Kirby Corp	$1,855,000	+44.6%	15,739	+43.7%	0.95%	+42.3%
AZO	Buy	Autozone	$1,799,000	-2.6%	3,529	+2.5%	0.92%	-4.2%
CHKP	Buy	Check Point Software	$1,756,000	+29.6%	25,365	+25.5%	0.90%	+27.4%
TTC	Buy	Toro Co	$1,748,000	-2.0%	29,509	+5.2%	0.90%	-3.7%
TSM	Buy	Taiwan Semiconductor Mfg ADR	$1,629,000	-1.6%	80,740	+4.3%	0.84%	-3.2%
CTSH	Sell	Cognizant Tech	$1,511,000	-9.7%	33,745	-1.4%	0.78%	-11.1%
ESRX	Buy	Express Scripts Hldg Co	$1,464,000	+3.2%	20,727	+1.4%	0.75%	+1.5%
PSA	Buy	Public Storage Com	$1,384,000	+3.6%	8,345	+7.1%	0.71%	+1.9%
GOOGL	Buy	Google Cl A	$1,376,000	+1.5%	2,338	+0.9%	0.71%	-0.1%
AJG	Sell	Arthur J. Gallagher & Co	$1,337,000	-45.5%	29,485	-43.9%	0.69%	-46.3%
RPM	Buy	RPM	$1,289,000	+72.3%	28,153	+73.8%	0.66%	+69.7%
NSRGY	Buy	Nestle S.A. Spons ADR	$1,246,000	+11.2%	16,949	+17.3%	0.64%	+9.6%
NEE	Sell	NextEra Energy	$1,203,000	-9.6%	12,818	-1.3%	0.62%	-11.1%
VFC	Buy	V F Corp	$1,187,000	+176.0%	17,970	+163.5%	0.61%	+171.9%
TROW	Sell	TRPrice Assoc	$1,168,000	-12.9%	14,897	-6.2%	0.60%	-14.3%
QCOM	Buy	Qualcomm	$1,139,000	+40.3%	15,235	+48.6%	0.58%	+38.0%
DCI	Sell	Donaldson Co	$1,119,000	-36.9%	27,541	-34.3%	0.57%	-37.9%
MRO	New	Marathon Oil Corp	$1,117,000	–	29,725	–	0.57%	–
PPG	Buy	PPG Industries	$1,103,000	+2.8%	5,605	+9.8%	0.57%	+1.1%
BCE	Sell	BCE New	$1,094,000	-29.6%	25,575	-25.3%	0.56%	-30.7%
JNJ	Sell	Johnson & Johnson	$1,010,000	-11.1%	9,476	-12.7%	0.52%	-12.6%
SBUX	New	Starbucks Corp	$969,000	–	12,841	–	0.50%	–
CLB	Sell	Core Laboratories NV	$863,000	-13.2%	5,900	-0.8%	0.44%	-14.5%
BMO	Sell	Bank of Montreal	$841,000	-0.2%	11,417	-0.4%	0.43%	-1.8%
SJM	Sell	Smucker (JM)	$802,000	-65.4%	8,100	-62.8%	0.41%	-66.0%
NOV	New	National Oilwell Varco	$765,000	–	10,050	–	0.39%	–
IHG	New	InterContinental Htls Gp PLC S	$713,000	–	18,437	–	0.37%	–
ENB	Sell	Enbridge	$592,000	-10.6%	12,357	-11.4%	0.30%	-11.9%
CTXS	Buy	Citrix Systems	$582,000	+16.2%	8,156	+1.9%	0.30%	+14.6%
BCR	New	Bard C R Inc N J Com	$539,000	–	3,775	–	0.28%	–
MRK	Sell	Merck & Co New	$522,000	-1.3%	8,802	-3.8%	0.27%	-2.9%
D	Sell	Dominion Resources	$504,000	-41.6%	7,298	-39.5%	0.26%	-42.4%
ITW	New	Illinois Tool Works	$419,000	–	4,963	–	0.22%	–
NBL	Sell	Noble Energy	$407,000	-23.8%	5,950	-13.8%	0.21%	-25.1%
BDX	Buy	Becton Dickinson & Co	$398,000	-0.3%	3,494	+3.5%	0.20%	-1.9%
KMI	New	Kinder Morgan Inc	$383,000	–	10,000	–	0.20%	–
XOM	Sell	Exxon Mobil Corp	$382,000	-8.4%	4,060	-1.9%	0.20%	-10.1%
MTD	Buy	Mettler Toledo Intl	$352,000	+2.9%	1,375	+1.9%	0.18%	+1.7%
CVS	New	CVS Health Corp	$342,000	–	4,300	–	0.18%	–
WFC	New	Wells Fargo & Co	$332,000	–	6,401	–	0.17%	–
HON	New	Honeywell	$312,000	–	3,350	–	0.16%	–
CLX	Sell	Clorox Co	$273,000	-69.5%	2,847	-70.9%	0.14%	-70.0%
IBM	Sell	Intl Business Mach	$271,000	-2.2%	1,430	-6.5%	0.14%	-3.5%
KNX	Sell	Knight Transn	$260,000	-4.8%	9,500	-17.4%	0.13%	-6.3%
FDS	Sell	Factset Research System	$255,000	-25.9%	2,095	-26.7%	0.13%	-26.8%
STR	Sell	Questar Corp	$238,000	-82.3%	10,686	-80.2%	0.12%	-82.5%
NSC	New	Norfolk Southern Corp	$220,000	–	1,975	–	0.11%	–
DOV	Sell	Dover Corp	$213,000	-23.1%	2,650	-13.1%	0.11%	-24.3%
HD	New	Home Depot	$209,000	–	2,275	–	0.11%	–
ANZBY	Exit	Australia & New Zealand Bkg Gr	$0	–	-6,750	–	-0.11%	–
VZ	Exit	Verizon Communication	$0	–	-4,343	–	-0.11%	–
ALXN	Exit	Alexion Pharmaceuticals	$0	–	-1,384	–	-0.11%	–
HP	Exit	Helmerich & Payne	$0	–	-1,858	–	-0.11%	–
WAG	Exit	Walgreen Co	$0	–	-3,000	–	-0.12%	–
SU	Exit	Suncor Energy	$0	–	-5,500	–	-0.12%	–
PG	Exit	Procter & Gamble Co	$0	–	-3,030	–	-0.12%	–
MCD	Exit	McDonald's Corp	$0	–	-2,717	–	-0.14%	–
FAST	Exit	Fastenal Co	$0	–	-6,950	–	-0.18%	–
	Exit	Liberty Acorn Fdishares	$0	–	-9,531	–	-0.19%	–
WGL	Exit	WGL Hldgs	$0	–	-10,216	–	-0.23%	–
AFL	Exit	AFLAC	$0	–	-9,066	–	-0.29%	–
RCI	Exit	Rogers Communications Cl B	$0	–	-19,075	–	-0.40%	–
EQT	Exit	EQT Corp	$0	–	-8,978	–	-0.50%	–
SYT	Exit	Syngenta ADR	$0	–	-14,576	–	-0.57%	–
A309PS	Exit	DIRECTV	$0	–	-14,050	–	-0.62%	–
LUXTY	Exit	Luxottica Group ADR	$0	–	-23,784	–	-0.72%	–
IHG	Exit	InterContinental Htls Gp PLC S	$0	–	-34,597	–	-0.75%	–

Q2 2014

			Value		Shares		↓ Weighting
NVO	New	Novo Nordisk Spons ADR	$6,747,000	–	146,068	–	3.52%	–
AAPL	New	Apple Computer	$6,548,000	–	70,464	–	3.42%	–
ECL	New	Ecolab	$5,921,000	–	53,181	–	3.09%	–
CVX	New	Chevron Texaco Corp	$5,487,000	–	42,029	–	2.86%	–
SIAL	New	Sigma-Aldrich Corp	$5,348,000	–	52,701	–	2.79%	–
ROP	New	Roper Inds New Com	$5,166,000	–	35,380	–	2.70%	–
ACN	New	Accenture PLC Cl A	$4,801,000	–	59,391	–	2.50%	–
AME	New	Ametek	$4,690,000	–	89,718	–	2.45%	–
UTX	New	United Technologies	$4,680,000	–	40,535	–	2.44%	–
GWW	New	Grainger (WW)	$4,575,000	–	17,994	–	2.39%	–
SRCL	New	Stericycle	$4,393,000	–	37,097	–	2.29%	–
CHD	New	Church & Dwight	$4,390,000	–	62,763	–	2.29%	–
MA	New	MasterCard Worldwide	$4,384,000	–	59,668	–	2.29%	–
CNI	New	Canadian National Railway Corp	$4,351,000	–	66,917	–	2.27%	–
IDXX	New	Idexx Labs	$4,298,000	–	32,177	–	2.24%	–
PX	New	Praxair	$4,096,000	–	30,834	–	2.14%	–
DHR	New	Danaher Corp	$4,056,000	–	51,517	–	2.12%	–
APH	New	Amphenol Corp New Cl A	$3,941,000	–	40,902	–	2.06%	–
HSIC	New	Henry Schein	$3,852,000	–	32,461	–	2.01%	–
ORLY	New	O'Reilly Automotive New	$3,795,000	–	25,202	–	1.98%	–
INTU	New	Intuit	$3,732,000	–	46,341	–	1.95%	–
FISV	New	Fiserv	$3,636,000	–	60,278	–	1.90%	–
CMCSA	New	Comcast Corp New Cl A	$3,361,000	–	62,620	–	1.75%	–
TD	New	Toronto-Dominion Bk	$3,282,000	–	63,830	–	1.71%	–
CELG	New	Celgene Corp	$3,111,000	–	36,220	–	1.62%	–
TRMB	New	Trimble Navigation Ltd	$2,839,000	–	76,839	–	1.48%	–
DVA	New	Davita Healthcare Partners	$2,709,000	–	37,458	–	1.41%	–
NVS	New	Novartis AG ADR	$2,666,000	–	29,452	–	1.39%	–
CMI	New	Cummins	$2,665,000	–	17,274	–	1.39%	–
MKC	New	McCormick & Co	$2,588,000	–	36,150	–	1.35%	–
ABT	New	Abbott Laboratories	$2,572,000	–	62,881	–	1.34%	–
TMO	New	Thermo Fisher Scientific	$2,490,000	–	21,105	–	1.30%	–
AJG	New	Arthur J. Gallagher & Co	$2,451,000	–	52,590	–	1.28%	–
ANSS	New	Ansys	$2,328,000	–	30,710	–	1.21%	–
SJM	New	Smucker, (JM)	$2,321,000	–	21,779	–	1.21%	–
AMGN	New	Amgen	$2,134,000	–	18,031	–	1.11%	–
AZO	New	Autozone	$1,847,000	–	3,444	–	0.96%	–
TTC	New	Toro Co	$1,784,000	–	28,050	–	0.93%	–
DCI	New	Donaldson Co	$1,774,000	–	41,911	–	0.92%	–
NKE	New	Nike Cl B	$1,751,000	–	22,575	–	0.91%	–
DPS	New	Dr Pepper Snapple Group Inc	$1,678,000	–	28,636	–	0.88%	–
CTSH	New	Cognizant Tech	$1,674,000	–	34,221	–	0.87%	–
ADP	New	Automatic Data Proc	$1,667,000	–	21,032	–	0.87%	–
TSM	New	Taiwan Semiconductor Mfg ADR	$1,656,000	–	77,434	–	0.86%	–
BCE	New	BCE New	$1,553,000	–	34,236	–	0.81%	–
IHG	New	InterContinental Htls Gp PLC S	$1,436,000	–	34,597	–	0.75%	–
ESRX	New	Express Scripts Hldg Co	$1,418,000	–	20,450	–	0.74%	–
LUXTY	New	Luxottica Group ADR	$1,379,000	–	23,784	–	0.72%	–
GOOGL	New	Google Cl A	$1,355,000	–	2,318	–	0.71%	–
CHKP	New	Check Point Software	$1,355,000	–	20,212	–	0.71%	–
STR	New	Questar Corp	$1,341,000	–	54,070	–	0.70%	–
TROW	New	TRPrice Assoc	$1,341,000	–	15,884	–	0.70%	–
PSA	New	Public Storage Com	$1,336,000	–	7,795	–	0.70%	–
NEE	New	NextEra Energy	$1,331,000	–	12,989	–	0.69%	–
KEX	New	Kirby Corp	$1,283,000	–	10,955	–	0.67%	–
A309PS	New	DIRECTV	$1,194,000	–	14,050	–	0.62%	–
JNJ	New	Johnson & Johnson	$1,136,000	–	10,856	–	0.59%	–
NSRGY	New	Nestle S.A. Spons ADR	$1,120,000	–	14,451	–	0.58%	–
SYT	New	Syngenta ADR	$1,090,000	–	14,576	–	0.57%	–
PPG	New	PPG Industries	$1,073,000	–	5,105	–	0.56%	–
CLB	New	Core Laboratories NV	$994,000	–	5,950	–	0.52%	–
EQT	New	EQT Corp	$960,000	–	8,978	–	0.50%	–
CLX	New	Clorox Co	$894,000	–	9,783	–	0.47%	–
D	New	Dominion Resources	$863,000	–	12,071	–	0.45%	–
BMO	New	Bank of Montreal	$843,000	–	11,459	–	0.44%	–
QCOM	New	Qualcomm	$812,000	–	10,254	–	0.42%	–
RCI	New	Rogers Communications Cl B	$768,000	–	19,075	–	0.40%	–
RPM	New	RPM	$748,000	–	16,203	–	0.39%	–
BMY	New	Bristol-Myers Squibb	$711,000	–	14,650	–	0.37%	–
ENB	New	Enbridge	$662,000	–	13,950	–	0.34%	–
AFL	New	AFLAC	$564,000	–	9,066	–	0.29%	–
NBL	New	Noble Energy	$534,000	–	6,900	–	0.28%	–
MRK	New	Merck & Co New	$529,000	–	9,152	–	0.28%	–
CTXS	New	Citrix Systems	$501,000	–	8,006	–	0.26%	–
WGL	New	WGL Hldgs	$440,000	–	10,216	–	0.23%	–
VFC	New	V F Corp	$430,000	–	6,819	–	0.22%	–
XOM	New	Exxon Mobil Corp	$417,000	–	4,140	–	0.22%	–
BDX	New	Becton Dickinson & Co	$399,000	–	3,376	–	0.21%	–
XEC	New	Cimarex Energy Co	$359,000	–	2,500	–	0.19%	–
	New	Liberty Acorn Fdishares	$357,000	–	9,531	–	0.19%	–
FDS	New	Factset Research System	$344,000	–	2,860	–	0.18%	–
FAST	New	Fastenal Co	$344,000	–	6,950	–	0.18%	–
MTD	New	Mettler Toledo Intl	$342,000	–	1,350	–	0.18%	–
PAYX	New	Paychex	$278,000	–	6,700	–	0.14%	–
IBM	New	Intl Business Mach	$277,000	–	1,530	–	0.14%	–
DOV	New	Dover Corp	$277,000	–	3,050	–	0.14%	–
MCD	New	McDonald's Corp	$274,000	–	2,717	–	0.14%	–
KNX	New	Knight Transn	$273,000	–	11,500	–	0.14%	–
PG	New	Procter & Gamble Co	$238,000	–	3,030	–	0.12%	–
SU	New	Suncor Energy	$234,000	–	5,500	–	0.12%	–
WAG	New	Walgreen Co	$222,000	–	3,000	–	0.12%	–
HP	New	Helmerich & Payne	$216,000	–	1,858	–	0.11%	–
ALXN	New	Alexion Pharmaceuticals	$216,000	–	1,384	–	0.11%	–
ANZBY	New	Australia & New Zealand Bkg Gr	$212,000	–	6,750	–	0.11%	–
VZ	New	Verizon Communication	$212,000	–	4,343	–	0.11%	–

Q4 2013

			Value		Shares		↓ Weighting
KNX	Exit	Knight Transn	$0	–	-12,000	–	-0.12%	–
BFS	Exit	Saul Centers	$0	–	-4,650	–	-0.12%	–
XEC	Exit	Cimarex Energy Co	$0	–	-2,500	–	-0.14%	–
PG	Exit	Procter & Gamble Co	$0	–	-3,394	–	-0.15%	–
ANZBY	Exit	Australia & New Zealand Bkg Gr	$0	–	-9,750	–	-0.16%	–
HCN	Exit	Health Care Reit	$0	–	-4,650	–	-0.17%	–
FDS	Exit	Factset Research System	$0	–	-2,910	–	-0.18%	–
MTD	Exit	Mettler Toledo Intl	$0	–	-1,350	–	-0.19%	–
DOV	Exit	Dover Corp	$0	–	-3,650	–	-0.19%	–
PAYX	Exit	Paychex	$0	–	-8,721	–	-0.20%	–
AFL	Exit	Aflac	$0	–	-5,841	–	-0.21%	–
RPM	Exit	RPM	$0	–	-10,237	–	-0.22%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-4,395	–	-0.22%	–
SAP	Exit	SAP Aktiengesellschaft Spons A	$0	–	-5,450	–	-0.23%	–
NSRGY	Exit	Nestle S.A. Spons ADR	$0	–	-6,743	–	-0.27%	–
NBL	Exit	Noble Energy	$0	–	-7,100	–	-0.28%	–
MRK	Exit	Merck & Co New	$0	–	-11,347	–	-0.31%	–
GOOGL	Exit	Google Cl A	$0	–	-635	–	-0.32%	–
ENB	Exit	Enbridge	$0	–	-13,325	–	-0.32%	–
ORCL	Exit	Oracle Corp	$0	–	-18,805	–	-0.36%	–
QCOM	Exit	Qualcomm	$0	–	-9,757	–	-0.38%	–
CLX	Exit	Clorox Co	$0	–	-8,090	–	-0.38%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-15,050	–	-0.40%	–
CTXS	Exit	Citrix Systems	$0	–	-10,176	–	-0.42%	–
WGL	Exit	WGL Hldgs	$0	–	-17,384	–	-0.43%	–
D	Exit	Dominion Resources	$0	–	-12,101	–	-0.44%	–
WFM	Exit	Whole Foods Market	$0	–	-13,052	–	-0.44%	–
RCI	Exit	Rogers Communications Cl B	$0	–	-20,279	–	-0.51%	–
ABBV	Exit	AbbVie Inc	$0	–	-19,635	–	-0.51%	–
JNJ	Exit	Johnson & Johnson	$0	–	-10,256	–	-0.52%	–
BMO	Exit	Bank of Montreal	$0	–	-13,472	–	-0.52%	–
CHKP	Exit	Check Point Software	$0	–	-17,175	–	-0.56%	–
IHG	Exit	InterContinental Htls Gp PLC S	$0	–	-33,764	–	-0.57%	–
DPS	Exit	Dr Pepper Snapple Group Inc	$0	–	-24,368	–	-0.63%	–
NEE	Exit	NextEra Energy	$0	–	-14,048	–	-0.65%	–
PSA	Exit	Public Storage Com	$0	–	-7,109	–	-0.66%	–
STR	Exit	Questar Corp	$0	–	-52,849	–	-0.69%	–
CTSH	Exit	Cognizant Tech	$0	–	-14,684	–	-0.70%	–
LUXTY	Exit	Luxottica Group ADR	$0	–	-23,550	–	-0.72%	–
A309PS	Exit	DIRECTV	$0	–	-20,793	–	-0.72%	–
TSM	Exit	Taiwan Semiconductor Mfg ADR	$0	–	-77,826	–	-0.76%	–
RL	Exit	Ralph Lauren Corp	$0	–	-8,045	–	-0.77%	–
SJM	Exit	Smucker, (JM)	$0	–	-13,167	–	-0.80%	–
AZO	Exit	Autozone	$0	–	-3,362	–	-0.82%	–
TTC	Exit	Toro Co	$0	–	-27,475	–	-0.87%	–
ADP	Exit	Automatic Data Proc	$0	–	-20,809	–	-0.87%	–
NKE	Exit	Nike Cl B	$0	–	-20,722	–	-0.87%	–
IBM	Exit	Intl Business Mach	$0	–	-8,440	–	-0.91%	–
TROW	Exit	TRPrice Assoc	$0	–	-22,400	–	-0.93%	–
SYT	Exit	Syngenta ADR	$0	–	-20,744	–	-0.98%	–
TD	Exit	Toronto-Dominion Bank	$0	–	-18,951	–	-0.99%	–
ROST	Exit	Ross Stores	$0	–	-24,700	–	-1.04%	–
DCI	Exit	Donaldson Co	$0	–	-50,356	–	-1.11%	–
ABT	Exit	Abbott Laboratories	$0	–	-63,737	–	-1.23%	–
BCE	Exit	BCE New	$0	–	-52,392	–	-1.30%	–
ESRX	Exit	Express Scripts Hldg Co	$0	–	-36,629	–	-1.31%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-24,849	–	-1.33%	–
CMI	Exit	Cummins	$0	–	-17,341	–	-1.34%	–
TRMB	Exit	Trimble Navigation Ltd	$0	–	-77,962	–	-1.34%	–
AJG	Exit	Arthur J. Gallagher & Co	$0	–	-54,193	–	-1.37%	–
MCD	Exit	McDonald's Corp	$0	–	-25,884	–	-1.44%	–
ANSS	Exit	Ansys	$0	–	-30,277	–	-1.52%	–
MKC	Exit	McCormick & Co	$0	–	-40,689	–	-1.53%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-60,508	–	-1.58%	–
UTX	Exit	United Technologies	$0	–	-25,574	–	-1.60%	–
DVA	Exit	Davita Healthcare Partners	$0	–	-50,019	–	-1.65%	–
INTU	Exit	Intuit	$0	–	-44,067	–	-1.69%	–
DHR	Exit	Danaher Corp	$0	–	-42,399	–	-1.70%	–
FAST	Exit	Fastenal Co	$0	–	-60,769	–	-1.77%	–
CELG	Exit	Celgene Corp	$0	–	-20,417	–	-1.82%	–
APH	Exit	Amphenol Corp New Cl A	$0	–	-41,201	–	-1.85%	–
CNI	Exit	Canadian National Railway Corp	$0	–	-33,182	–	-1.95%	–
ORLY	Exit	O'Reilly Automotive New	$0	–	-27,055	–	-2.00%	–
PX	Exit	Praxair	$0	–	-28,766	–	-2.00%	–
FISV	Exit	Fiserv	$0	–	-35,837	–	-2.10%	–
IDXX	Exit	Idexx Labs	$0	–	-37,876	–	-2.19%	–
CHD	Exit	Church & Dwight	$0	–	-63,314	–	-2.20%	–
HSIC	Exit	Henry Schein	$0	–	-39,669	–	-2.39%	–
AME	Exit	Ametek	$0	–	-91,578	–	-2.44%	–
SRCL	Exit	Stericycle	$0	–	-36,860	–	-2.47%	–
NVO	Exit	Novo Nordisk Spons ADR	$0	–	-26,659	–	-2.62%	–
ACN	Exit	Accenture PLC Cl A	$0	–	-62,144	–	-2.65%	–
SIAL	Exit	Sigma-Aldrich Corp	$0	–	-54,283	–	-2.68%	–
MA	Exit	MasterCard Worldwide	$0	–	-6,901	–	-2.69%	–
ROP	Exit	Roper Inds New Com	$0	–	-36,325	–	-2.80%	–
AAPL	Exit	Apple Computer	$0	–	-10,602	–	-2.93%	–
CVX	Exit	Chevron Texaco Corp	$0	–	-42,525	–	-3.00%	–
ECL	Exit	Ecolab	$0	–	-54,687	–	-3.13%	–
GWW	Exit	Grainger (WW)	$0	–	-22,530	–	-3.42%	–

Q3 2013

			Value		Shares		↓ Weighting
GWW	Sell	Grainger (WW)	$5,896,000	-15.9%	22,530	-19.0%	3.42%	-17.5%
ECL	Sell	Ecolab	$5,401,000	+2.2%	54,687	-11.9%	3.13%	+0.3%
CVX	Buy	Chevron Texaco Corp	$5,167,000	+3.1%	42,525	+0.4%	3.00%	+1.2%
AAPL	Sell	Apple Computer	$5,055,000	+19.3%	10,602	-0.8%	2.93%	+17.1%
ROP	Buy	Roper Inds New Com	$4,827,000	+7.0%	36,325	+0.0%	2.80%	+5.0%
MA	Buy	MasterCard Worldwide	$4,643,000	+20.2%	6,901	+2.6%	2.69%	+18.0%
SIAL	Sell	Sigma-Aldrich Corp	$4,630,000	-7.7%	54,283	-13.0%	2.68%	-9.4%
ACN	Buy	Accenture PLC Cl A	$4,576,000	+42.2%	62,144	+38.9%	2.65%	+39.6%
NVO	Buy	Novo Nordisk Spons ADR	$4,511,000	+10.8%	26,659	+1.5%	2.62%	+8.7%
SRCL	Sell	Stericycle	$4,254,000	-0.1%	36,860	-4.5%	2.47%	-2.0%
AME	Sell	Ametek	$4,214,000	+0.5%	91,578	-7.6%	2.44%	-1.3%
HSIC	Buy	Henry Schein	$4,116,000	+14.0%	39,669	+5.2%	2.39%	+11.9%
CHD	Sell	Church & Dwight	$3,802,000	-3.2%	63,314	-0.5%	2.20%	-5.0%
IDXX	Sell	Idexx Labs	$3,774,000	+7.3%	37,876	-3.4%	2.19%	+5.3%
FISV	Sell	Fiserv	$3,621,000	+6.5%	35,837	-7.8%	2.10%	+4.5%
PX	Buy	Praxair	$3,458,000	+16.0%	28,766	+11.1%	2.00%	+13.9%
ORLY	Sell	O'Reilly Automotive New	$3,452,000	-18.2%	27,055	-27.8%	2.00%	-19.7%
CNI	Sell	Canadian National Railway Corp	$3,364,000	+3.5%	33,182	-0.6%	1.95%	+1.6%
APH	Buy	Amphenol Corp New Cl A	$3,188,000	-0.4%	41,201	+0.3%	1.85%	-2.3%
CELG	Sell	Celgene Corp	$3,147,000	+17.5%	20,417	-10.8%	1.82%	+15.3%
FAST	Buy	Fastenal Co	$3,055,000	+30.8%	60,769	+19.1%	1.77%	+28.3%
DHR	Buy	Danaher Corp	$2,939,000	+11.5%	42,399	+1.8%	1.70%	+9.4%
INTU	Buy	Intuit	$2,922,000	+20.5%	44,067	+10.9%	1.69%	+18.3%
DVA	Buy	Davita Healthcare Partners	$2,846,000	-4.9%	50,019	+102.0%	1.65%	-6.6%
UTX	Buy	United Technologies	$2,757,000	+17.1%	25,574	+1.0%	1.60%	+15.0%
CMCSA	Buy	Comcast Corp New Cl A	$2,730,000	+21.9%	60,508	+12.8%	1.58%	+19.7%
MKC	Sell	McCormick & Co	$2,633,000	-8.3%	40,689	-0.3%	1.53%	-10.0%
ANSS	Sell	Ansys	$2,620,000	+8.9%	30,277	-8.0%	1.52%	+6.9%
MCD	Sell	McDonald's Corp	$2,490,000	-3.9%	25,884	-1.1%	1.44%	-5.7%
AJG	Buy	Arthur J. Gallagher & Co	$2,366,000	+0.1%	54,193	+0.2%	1.37%	-1.7%
TRMB	Sell	Trimble Navigation Ltd	$2,316,000	+14.2%	77,962	-0.1%	1.34%	+12.1%
CMI	Sell	Cummins	$2,304,000	+22.4%	17,341	-0.0%	1.34%	+20.1%
TMO	Buy	Thermo Fisher Scientific	$2,290,000	+10.3%	24,849	+1.3%	1.33%	+8.3%
ESRX	Sell	Express Scripts Hldg Co	$2,264,000	-45.3%	36,629	-45.3%	1.31%	-46.3%
BCE	Sell	BCE New	$2,237,000	-20.1%	52,392	-23.2%	1.30%	-21.5%
ABT	Sell	Abbott Laboratories	$2,115,000	-5.6%	63,737	-0.8%	1.23%	-7.3%
DCI	Sell	Donaldson Co	$1,920,000	+6.2%	50,356	-0.7%	1.11%	+4.2%
ROST	Sell	Ross Stores	$1,798,000	+11.2%	24,700	-1.0%	1.04%	+9.1%
TD	Sell	Toronto-Dominion Bank	$1,705,000	+7.4%	18,951	-4.1%	0.99%	+5.4%
SYT	Sell	Syngenta ADR	$1,687,000	+4.0%	20,744	-0.4%	0.98%	+2.1%
TROW	Sell	TRPrice Assoc	$1,611,000	-17.1%	22,400	-15.7%	0.93%	-18.6%
IBM	Sell	Intl Business Mach	$1,563,000	-43.8%	8,440	-42.0%	0.91%	-44.8%
NKE	Sell	Nike Cl B	$1,505,000	+13.4%	20,722	-0.5%	0.87%	+11.4%
ADP	Buy	Automatic Data Proc	$1,506,000	+6.7%	20,809	+1.5%	0.87%	+4.7%
TTC	Sell	Toro Co	$1,493,000	+19.2%	27,475	-0.4%	0.87%	+17.0%
AZO	Buy	Autozone	$1,421,000	+45.6%	3,362	+45.9%	0.82%	+43.1%
SJM	Sell	Smucker, (JM)	$1,383,000	+1.0%	13,167	-0.8%	0.80%	-0.9%
TSM	Sell	Taiwan Semiconductor Mfg ADR	$1,320,000	-9.0%	77,826	-1.7%	0.76%	-10.7%
A309PS	Buy	DIRECTV	$1,243,000	+9.5%	20,793	+13.0%	0.72%	+7.6%
LUXTY	Buy	Luxottica Group ADR	$1,238,000	+8.3%	23,550	+4.2%	0.72%	+6.4%
CTSH	Buy	Cognizant Tech	$1,206,000	+31.5%	14,684	+0.3%	0.70%	+29.0%
STR	Sell	Questar Corp	$1,189,000	-50.1%	52,849	-47.1%	0.69%	-51.0%
PSA	Sell	Public Storage Com	$1,141,000	+1.9%	7,109	-2.7%	0.66%	-0.2%
NEE	Buy	NextEra Energy	$1,126,000	-1.7%	14,048	+0.0%	0.65%	-3.4%
DPS	Buy	Dr Pepper Snapple Group Inc	$1,092,000	+103.4%	24,368	+108.4%	0.63%	+99.7%
IHG	Sell	InterContinental Htls Gp PLC S	$986,000	+5.7%	33,764	-0.6%	0.57%	+3.8%
CHKP	Buy	Check Point Software	$971,000	+69.8%	17,175	+49.2%	0.56%	+66.6%
BMO	Sell	Bank of Montreal	$900,000	+7.5%	13,472	-6.6%	0.52%	+5.7%
JNJ	Sell	Johnson & Johnson	$889,000	-10.2%	10,256	-11.0%	0.52%	-12.0%
ABBV	Sell	AbbVie Inc	$878,000	-55.3%	19,635	-58.7%	0.51%	-56.2%
RCI	Buy	Rogers Communications Cl B	$872,000	+9.8%	20,279	+0.1%	0.51%	+7.9%
WFM	Buy	Whole Foods Market	$764,000	+14.4%	13,052	+0.7%	0.44%	+12.2%
D	Sell	Dominion Resources	$756,000	-24.2%	12,101	-31.0%	0.44%	-25.6%
WGL	Sell	WGL Hldgs	$742,000	-1.3%	17,384	-0.1%	0.43%	-3.2%
CTXS	Buy	Citrix Systems	$719,000	+31.0%	10,176	+11.8%	0.42%	+28.7%
CLX	New	Clorox Co	$661,000	–	8,090	–	0.38%	–
QCOM	Buy	Qualcomm	$657,000	+10.2%	9,757	+0.1%	0.38%	+8.2%
ORCL	Sell	Oracle Corp	$624,000	-46.1%	18,805	-50.1%	0.36%	-47.1%
GOOGL	New	Google Cl A	$556,000	–	635	–	0.32%	–
MRK	Sell	Merck & Co New	$540,000	-0.9%	11,347	-3.3%	0.31%	-2.8%
NSRGY	Buy	Nestle S.A. Spons ADR	$472,000	+9.0%	6,743	+1.9%	0.27%	+7.0%
SAP	New	SAP Aktiengesellschaft Spons A	$403,000	–	5,450	–	0.23%	–
XOM	Buy	Exxon Mobil Corp	$378,000	+5.3%	4,395	+10.6%	0.22%	+3.3%
RPM	New	RPM	$371,000	–	10,237	–	0.22%	–
AFL	New	Aflac	$362,000	–	5,841	–	0.21%	–
PAYX	Buy	Paychex	$354,000	+11.3%	8,721	+0.1%	0.20%	+9.0%
FDS	Buy	Factset Research System	$317,000	+42.2%	2,910	+33.2%	0.18%	+39.4%
HCN	Sell	Health Care Reit	$290,000	-65.2%	4,650	-62.6%	0.17%	-65.9%
XEC	New	Cimarex Energy Co	$241,000	–	2,500	–	0.14%	–
VZ	Exit	Verizon Communication	$0	–	-4,196	–	-0.12%	–
BCH	Exit	Banco de Chile ADR	$0	–	-3,215	–	-0.16%	–
ISRG	Exit	Intuitive Surgical	$0	–	-1,009	–	-0.30%	–
SO	Exit	Southern Co	$0	–	-19,671	–	-0.51%	–

Q2 2013

			Value		Shares		↓ Weighting
GWW	New	Grainger (WW)	$7,013,000	–	27,809	–	4.14%	–
ECL	New	Ecolab	$5,286,000	–	62,044	–	3.12%	–
SIAL	New	Sigma-Aldrich Corp	$5,018,000	–	62,394	–	2.96%	–
CVX	New	Chevron Texaco Corp	$5,012,000	–	42,356	–	2.96%	–
ROP	New	Roper Inds New Com	$4,510,000	–	36,307	–	2.66%	–
SRCL	New	Stericycle	$4,260,000	–	38,579	–	2.52%	–
AAPL	New	Apple Computer	$4,238,000	–	10,688	–	2.50%	–
ORLY	New	O'Reilly Automotive New	$4,218,000	–	37,454	–	2.49%	–
AME	New	Ametek	$4,192,000	–	99,106	–	2.48%	–
ESRX	New	Express Scripts Hldg Co	$4,136,000	–	66,997	–	2.44%	–
NVO	New	Novo Nordisk Spons ADR	$4,072,000	–	26,276	–	2.40%	–
CHD	New	Church & Dwight	$3,928,000	–	63,649	–	2.32%	–
MA	New	MasterCard Worldwide	$3,864,000	–	6,727	–	2.28%	–
HSIC	New	Henry Schein	$3,610,000	–	37,703	–	2.13%	–
IDXX	New	Idexx Labs	$3,517,000	–	39,212	–	2.08%	–
FISV	New	Fiserv	$3,399,000	–	38,885	–	2.01%	–
CNI	New	Canadian National Railway Corp	$3,249,000	–	33,398	–	1.92%	–
ACN	New	Accenture PLC Cl A	$3,219,000	–	44,727	–	1.90%	–
APH	New	Amphenol Corp New Cl A	$3,201,000	–	41,075	–	1.89%	–
DVA	New	Davita Healthcare Partners	$2,992,000	–	24,766	–	1.77%	–
PX	New	Praxair	$2,982,000	–	25,893	–	1.76%	–
MKC	New	McCormick & Co	$2,871,000	–	40,805	–	1.70%	–
BCE	New	BCE New	$2,798,000	–	68,207	–	1.65%	–
IBM	New	Intl Business Mach	$2,780,000	–	14,549	–	1.64%	–
CELG	New	Celgene Corp	$2,679,000	–	22,899	–	1.58%	–
DHR	New	Danaher Corp	$2,637,000	–	41,651	–	1.56%	–
MCD	New	McDonald's Corp	$2,592,000	–	26,180	–	1.53%	–
INTU	New	Intuit	$2,425,000	–	39,731	–	1.43%	–
ANSS	New	Ansys	$2,406,000	–	32,913	–	1.42%	–
STR	New	Questar Corp	$2,382,000	–	99,888	–	1.41%	–
AJG	New	Arthur J. Gallagher & Co	$2,363,000	–	54,086	–	1.40%	–
UTX	New	United Technologies	$2,354,000	–	25,328	–	1.39%	–
FAST	New	Fastenal Co	$2,336,000	–	51,026	–	1.38%	–
ABT	New	Abbott Laboratories	$2,240,000	–	64,233	–	1.32%	–
CMCSA	New	Comcast Corp New Cl A	$2,240,000	–	53,665	–	1.32%	–
TMO	New	Thermo Fisher Scientific	$2,076,000	–	24,533	–	1.23%	–
TRMB	New	Trimble Navigation Ltd	$2,028,000	–	78,013	–	1.20%	–
ABBV	New	AbbVie Inc	$1,966,000	–	47,556	–	1.16%	–
TROW	New	TRPrice Assoc	$1,944,000	–	26,560	–	1.15%	–
CMI	New	Cummins	$1,882,000	–	17,347	–	1.11%	–
DCI	New	Donaldson Co	$1,808,000	–	50,692	–	1.07%	–
SYT	New	Syngenta ADR	$1,622,000	–	20,836	–	0.96%	–
ROST	New	Ross Stores	$1,617,000	–	24,950	–	0.96%	–
TD	New	Toronto-Dominion Bank	$1,587,000	–	19,752	–	0.94%	–
TSM	New	Taiwan Semiconductor Mfg ADR	$1,451,000	–	79,208	–	0.86%	–
ADP	New	Automatic Data Proc	$1,412,000	–	20,502	–	0.83%	–
RL	New	Ralph Lauren Corp	$1,398,000	–	8,045	–	0.83%	–
SJM	New	Smucker, (JM)	$1,369,000	–	13,275	–	0.81%	–
NKE	New	Nike Cl B	$1,327,000	–	20,835	–	0.78%	–
TTC	New	Toro Co	$1,252,000	–	27,575	–	0.74%	–
ORCL	New	Oracle Corp	$1,158,000	–	37,707	–	0.68%	–
NEE	New	NextEra Energy	$1,145,000	–	14,047	–	0.68%	–
LUXTY	New	Luxottica Group ADR	$1,143,000	–	22,600	–	0.68%	–
A309PS	New	DIRECTV	$1,135,000	–	18,406	–	0.67%	–
PSA	New	Public Storage Com	$1,120,000	–	7,304	–	0.66%	–
D	New	Dominion Resources	$997,000	–	17,547	–	0.59%	–
JNJ	New	Johnson & Johnson	$990,000	–	11,525	–	0.58%	–
AZO	New	Autozone	$976,000	–	2,304	–	0.58%	–
IHG	New	InterContinental Htls Gp PLC S	$933,000	–	33,966	–	0.55%	–
CTSH	New	Cognizant Tech	$917,000	–	14,634	–	0.54%	–
SO	New	Southern Co	$868,000	–	19,671	–	0.51%	–
BMO	New	Bank of Montreal	$837,000	–	14,422	–	0.49%	–
HCN	New	Health Care Reit	$833,000	–	12,425	–	0.49%	–
RCI	New	Rogers Communications Cl B	$794,000	–	20,250	–	0.47%	–
WGL	New	WGL Hldgs	$752,000	–	17,398	–	0.44%	–
BMY	New	Bristol-Myers Squibb	$673,000	–	15,050	–	0.40%	–
WFM	New	Whole Foods Market	$668,000	–	12,967	–	0.40%	–
QCOM	New	Qualcomm	$596,000	–	9,749	–	0.35%	–
CHKP	New	Check Point Software	$572,000	–	11,515	–	0.34%	–
ENB	New	Enbridge	$561,000	–	13,325	–	0.33%	–
CTXS	New	Citrix Systems	$549,000	–	9,101	–	0.32%	–
MRK	New	Merck & Co New	$545,000	–	11,737	–	0.32%	–
DPS	New	Dr Pepper Snapple Group Inc	$537,000	–	11,691	–	0.32%	–
ISRG	New	Intuitive Surgical	$511,000	–	1,009	–	0.30%	–
NSRGY	New	Nestle S.A. Spons ADR	$433,000	–	6,620	–	0.26%	–
NBL	New	Noble Energy	$426,000	–	7,100	–	0.25%	–
XOM	New	Exxon Mobil Corp	$359,000	–	3,972	–	0.21%	–
PAYX	New	Paychex	$318,000	–	8,715	–	0.19%	–
DOV	New	Dover Corp	$283,000	–	3,650	–	0.17%	–
BCH	New	Banco de Chile ADR	$280,000	–	3,215	–	0.16%	–
MTD	New	Mettler Toledo Intl	$272,000	–	1,350	–	0.16%	–
PG	New	Procter & Gamble Co	$261,000	–	3,394	–	0.15%	–
ANZBY	New	Australia & New Zealand Bkg Gr	$255,000	–	9,750	–	0.15%	–
FDS	New	Factset Research System	$223,000	–	2,185	–	0.13%	–
VZ	New	Verizon Communication	$211,000	–	4,196	–	0.12%	–
BFS	New	Saul Centers	$207,000	–	4,650	–	0.12%	–
KNX	New	Knight Transn	$202,000	–	12,000	–	0.12%	–

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