GRAYBILL WEALTH MANAGEMENT, LTD. Activity Q4 2003-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INCstock	$11,358,916	-11.8%	66,345	-0.0%	5.54%	-9.3%
BRKB	Sell	BERKSHIRE HATHAWAY INCstock	$8,480,184	+1.7%	24,208	-1.0%	4.14%	+4.5%
GOOGL	Sell	ALPHABET INCstock	$8,403,701	+8.9%	64,219	-0.4%	4.10%	+11.9%
SHY	Sell	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$7,588,554	-0.3%	93,721	-0.1%	3.70%	+2.4%
FLEX	Buy	FLEX LTDstock	$6,922,287	-0.5%	256,571	+1.9%	3.38%	+2.2%
SNPS	Sell	SYNOPSYS INCstock	$6,704,639	+4.1%	14,608	-1.3%	3.27%	+6.9%
GLD	Sell	SPDR GOLD SHARESetf	$6,460,868	-4.3%	37,684	-0.5%	3.15%	-1.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INCstock	$6,255,804	-3.3%	12,359	-0.4%	3.05%	-0.7%
LNG	Buy	CHENIERE ENERGY INCstock	$6,080,503	+9.8%	36,638	+0.8%	2.97%	+12.8%
ADP	Sell	AUTOMATIC DATA PROCESSING INCstock	$5,623,514	+8.6%	23,375	-0.8%	2.74%	+11.6%
IEMG	Buy	ISHARES CORE EMERGING MARKETS ETFetf	$5,620,935	-0.5%	118,112	+3.0%	2.74%	+2.2%
VGK	Buy	VANGUARD FTSE EUROPE ETFetf	$5,592,901	-3.9%	96,546	+2.4%	2.73%	-1.2%
BLK	Buy	BLACKROCK INCstock	$5,399,104	-6.2%	8,351	+0.3%	2.63%	-3.6%
RTX	Sell	RAYTHEON TECHNOLOGIES CORPstock	$5,187,271	-27.1%	72,075	-0.8%	2.53%	-25.1%
WMB	Buy	THE WILLIAMS COMPANIES INCstock	$5,124,614	+3.9%	152,111	+0.6%	2.50%	+6.7%
MSFT	Sell	MICROSOFT CORPstock	$4,634,010	-8.4%	14,676	-1.2%	2.26%	-5.9%
IEF	Buy	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$4,479,211	-2.3%	48,905	+3.1%	2.18%	+0.4%
ABT	Sell	ABBOTT LABORATORIESstock	$4,438,400	-11.2%	45,828	-0.1%	2.16%	-8.8%
CMCSA	Buy	COMCAST CORPstock	$4,382,908	+8.3%	98,848	+1.5%	2.14%	+11.2%
OTIS	Buy	OTIS WORLDWIDE CORPstock	$4,376,965	-8.7%	54,501	+1.2%	2.14%	-6.2%
FISV	Buy	FISERV INCstock	$4,335,069	-9.4%	38,377	+1.2%	2.12%	-6.9%
URI	Buy	UNITED RENTALS INCstock	$4,217,648	+0.4%	9,487	+0.6%	2.06%	+3.2%
	Buy	BROOKFIELD CORPORATIONstock	$4,213,367	-4.8%	134,742	+2.4%	2.06%	-2.2%
BDX	Sell	BECTON DICKINSON & COstock	$4,197,252	-3.2%	16,235	-1.1%	2.05%	-0.5%
AMZN	Sell	AMAZON.COM INCstock	$3,831,758	-2.6%	30,143	-0.1%	1.87%	+0.1%
V	Sell	VISA INCstock	$3,810,284	-3.3%	16,566	-0.1%	1.86%	-0.6%
WWD	Buy	WOODWARD INCstock	$3,749,392	+5.9%	30,174	+1.4%	1.83%	+8.8%
SBUX	Buy	STARBUCKS CORPstock	$3,648,882	-7.1%	39,979	+0.8%	1.78%	-4.6%
JNJ	Sell	JOHNSON & JOHNSONstock	$3,531,290	-11.7%	22,673	-6.2%	1.72%	-9.3%
DEO	Buy	DIAGEO PLCadr	$3,391,631	-13.8%	22,735	+0.3%	1.66%	-11.4%
KMI	Buy	KINDER MORGAN INCstock	$3,239,451	-3.0%	195,383	+0.7%	1.58%	-0.3%
BAC	Sell	BANK OF AMERICA CORPstock	$3,173,983	-5.4%	115,923	-0.9%	1.55%	-2.8%
CVS	Buy	CVS HEALTH CORPstock	$3,101,929	+5.7%	44,428	+4.7%	1.51%	+8.6%
	Buy	GENERAL ELECTRIC COstock	$3,070,281	+5.1%	27,773	+4.4%	1.50%	+8.0%
IGSB	Buy	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$3,056,874	+2.1%	61,346	+2.8%	1.49%	+4.9%
COST	Sell	COSTCO WHOLESALE CORPstock	$2,975,553	+3.7%	5,267	-1.2%	1.45%	+6.6%
PLD	Sell	PROLOGIS INCreit	$2,790,699	-9.6%	24,870	-1.2%	1.36%	-7.1%
UBER	New	UBER TECHNOLOGIES INC COMstock	$2,780,693	–	60,463	–	1.36%	–
JPM	Sell	JPMORGAN CHASE & COstock	$2,714,689	-1.4%	18,719	-1.1%	1.32%	+1.3%
PEP	Buy	PEPSICO INCstock	$2,701,694	-7.8%	15,945	+0.8%	1.32%	-5.2%
DIS	Buy	THE WALT DISNEY COstock	$2,596,168	-7.8%	32,032	+1.6%	1.27%	-5.2%
KMX	Sell	CARMAX INCstock	$2,212,153	-15.7%	31,276	-0.3%	1.08%	-13.5%
NXRT	Sell	NEXPOINT RESIDENTIAL TRUST INCreit	$2,007,349	-29.9%	62,379	-1.0%	0.98%	-28.1%
	New	KENVUE INCstock	$1,899,037	–	94,574	–	0.93%	–
	Sell	BROOKFIELD ASSET MANAGEMENT LTDstock	$986,364	+0.4%	29,585	-1.7%	0.48%	+3.2%
SPY	Buy	SPDR S&P 500 ETF TRUSTetf	$822,044	+17.7%	1,923	+22.1%	0.40%	+20.8%
	Sell	GE HEALTHCARE TECHNOLOGIES INCstock	$586,029	-18.0%	8,613	-2.0%	0.29%	-15.6%
LLY	Sell	ELI LILLY & COstock	$537,130	-52.1%	1,000	-58.2%	0.26%	-50.8%
IEFA	Buy	ISHARES CORE MSCI EAFE ETFetf	$401,544	+20.4%	6,240	+26.3%	0.20%	+24.1%
AMJ	Sell	J.P. MORGAN ALERIAN MLP INDEX ETNetf	$285,162	+0.1%	11,545	-7.1%	0.14%	+3.0%
UTG	Sell	REAVES UTILITY INCOME FUNDcef	$274,872	-11.0%	11,151	-1.0%	0.13%	-8.8%
IJH	Buy	ISHARES CORE S&P MID-CAP ETFetf	$265,558	+20.2%	1,065	+26.0%	0.13%	+23.8%
UL	Sell	UNILEVER PLCadr	$249,717	-11.9%	5,055	-7.0%	0.12%	-9.6%
F	Sell	FORD MOTOR COstock	$192,510	-18.5%	15,500	-0.7%	0.09%	-16.1%
VZ	Exit	VERIZON COMMUNICATIONS INCstock	$0	–	-60,920	–	-1.08%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INCstock	$12,872,715	–	66,364	–	6.11%	–
BRKB	New	BERKSHIRE HATHAWAY INCstock	$8,336,433	–	24,447	–	3.96%	–
GOOGL	New	ALPHABET INCstock	$7,714,950	–	64,452	–	3.66%	–
SHY	New	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$7,610,185	–	93,860	–	3.61%	–
RTX	New	RAYTHEON TECHNOLOGIES CORPstock	$7,117,753	–	72,660	–	3.38%	–
FLEX	New	FLEX LTDstock	$6,957,636	–	251,723	–	3.30%	–
GLD	New	SPDR GOLD SHARESetf	$6,751,207	–	37,871	–	3.21%	–
TMO	New	THERMO FISHER SCIENTIFIC INCstock	$6,471,836	–	12,404	–	3.07%	–
SNPS	New	SYNOPSYS INCstock	$6,441,752	–	14,795	–	3.06%	–
VGK	New	VANGUARD FTSE EUROPE ETFetf	$5,818,697	–	94,306	–	2.76%	–
BLK	New	BLACKROCK INCstock	$5,756,074	–	8,328	–	2.73%	–
IEMG	New	ISHARES CORE EMERGING MARKETS ETFetf	$5,649,884	–	114,625	–	2.68%	–
LNG	New	CHENIERE ENERGY INCstock	$5,538,950	–	36,354	–	2.63%	–
ADP	New	AUTOMATIC DATA PROCESSING INCstock	$5,177,168	–	23,555	–	2.46%	–
MSFT	New	MICROSOFT CORPstock	$5,059,177	–	14,856	–	2.40%	–
ABT	New	ABBOTT LABORATORIESstock	$4,998,976	–	45,854	–	2.37%	–
WMB	New	THE WILLIAMS COMPANIES INCstock	$4,931,650	–	151,139	–	2.34%	–
OTIS	New	OTIS WORLDWIDE CORPstock	$4,792,574	–	53,843	–	2.28%	–
FISV	New	FISERV INCstock	$4,783,906	–	37,922	–	2.27%	–
IEF	New	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$4,583,594	–	47,449	–	2.18%	–
	New	BROOKFIELD CORPORATIONstock	$4,427,778	–	131,583	–	2.10%	–
BDX	New	BECTON DICKINSON & COstock	$4,334,351	–	16,417	–	2.06%	–
URI	New	UNITED RENTALS INCstock	$4,199,545	–	9,429	–	1.99%	–
CMCSA	New	COMCAST CORPstock	$4,046,904	–	97,398	–	1.92%	–
JNJ	New	JOHNSON & JOHNSONstock	$4,001,122	–	24,173	–	1.90%	–
V	New	VISA INCstock	$3,938,934	–	16,586	–	1.87%	–
AMZN	New	AMAZON.COM INCstock	$3,933,201	–	30,172	–	1.87%	–
DEO	New	DIAGEO PLCadr	$3,934,092	–	22,677	–	1.87%	–
SBUX	New	STARBUCKS CORPstock	$3,927,019	–	39,643	–	1.86%	–
WWD	New	WOODWARD INCstock	$3,540,078	–	29,771	–	1.68%	–
BAC	New	BANK OF AMERICA CORPstock	$3,355,782	–	116,967	–	1.59%	–
KMI	New	KINDER MORGAN INCstock	$3,339,500	–	193,931	–	1.59%	–
PLD	New	PROLOGIS INCreit	$3,087,364	–	25,176	–	1.47%	–
IGSB	New	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$2,995,001	–	59,697	–	1.42%	–
CVS	New	CVS HEALTH CORPstock	$2,933,781	–	42,439	–	1.39%	–
PEP	New	PEPSICO INCstock	$2,929,337	–	15,815	–	1.39%	–
	New	GENERAL ELECTRIC COstock	$2,921,720	–	26,597	–	1.39%	–
COST	New	COSTCO WHOLESALE CORPstock	$2,868,941	–	5,329	–	1.36%	–
NXRT	New	NEXPOINT RESIDENTIAL TRUST INCreit	$2,865,343	–	63,002	–	1.36%	–
DIS	New	THE WALT DISNEY COstock	$2,814,584	–	31,525	–	1.34%	–
JPM	New	JPMORGAN CHASE & COstock	$2,752,499	–	18,925	–	1.31%	–
KMX	New	CARMAX INCstock	$2,625,616	–	31,369	–	1.25%	–
VZ	New	VERIZON COMMUNICATIONS INCstock	$2,265,604	–	60,920	–	1.08%	–
LLY	New	ELI LILLY & COstock	$1,121,331	–	2,391	–	0.53%	–
	New	BROOKFIELD ASSET MANAGEMENT LTDstock	$982,196	–	30,101	–	0.47%	–
	New	GE HEALTHCARE TECHNOLOGIES INCstock	$714,262	–	8,792	–	0.34%	–
SPY	New	SPDR S&P 500 ETF TRUSTetf	$698,166	–	1,575	–	0.33%	–
IEFA	New	ISHARES CORE MSCI EAFE ETFetf	$333,585	–	4,942	–	0.16%	–
UTG	New	REAVES UTILITY INCOME FUNDcef	$308,804	–	11,262	–	0.15%	–
AMJ	New	J.P. MORGAN ALERIAN MLP INDEX ETNetf	$284,748	–	12,429	–	0.14%	–
UL	New	UNILEVER PLCadr	$283,483	–	5,438	–	0.14%	–
F	New	FORD MOTOR COstock	$236,255	–	15,615	–	0.11%	–
IJH	New	ISHARES CORE S&P MID-CAP ETFetf	$220,951	–	845	–	0.10%	–

Q4 2022

			Value		Shares		↓ Weighting
F	Exit	FORD MOTOR COstock	$0	–	-15,700	–	-0.10%	–
UL	Exit	UNILEVER PLCadr	$0	–	-5,597	–	-0.15%	–
HSY	Exit	HERSHEY CO COMstock	$0	–	-1,150	–	-0.15%	–
AMJ	Exit	J.P. MORGAN ALERIAN MLP INDEX ETNetf	$0	–	-14,620	–	-0.17%	–
UTG	Exit	REAVES UTILITY INCOME FUNDcef	$0	–	-11,136	–	-0.18%	–
LLY	Exit	ELI LILLY & COstock	$0	–	-1,442	–	-0.28%	–
	Exit	GENERAL ELECTRIC COstock	$0	–	-27,290	–	-1.00%	–
JPM	Exit	JPMORGAN CHASE & COstock	$0	–	-18,904	–	-1.17%	–
KMX	Exit	CARMAX INCstock	$0	–	-30,978	–	-1.22%	–
IGSB	Exit	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$0	–	-42,717	–	-1.25%	–
WWD	Exit	WOODWARD INCstock	$0	–	-29,108	–	-1.39%	–
VZ	Exit	VERIZON COMMUNICATIONS INCstock	$0	–	-64,217	–	-1.45%	–
PLD	Exit	PROLOGIS INCreit	$0	–	-24,369	–	-1.47%	–
BAC	Exit	BANK OF AMERICA CORPstock	$0	–	-82,666	–	-1.48%	–
COST	Exit	COSTCO WHOLESALE CORPstock	$0	–	-5,413	–	-1.52%	–
URI	Exit	UNITED RENTALS INCstock	$0	–	-9,487	–	-1.52%	–
PEP	Exit	PEPSICO INCstock	$0	–	-15,884	–	-1.54%	–
NXRT	Exit	NEXPOINT RESIDENTIAL TRUST INCreit	$0	–	-59,554	–	-1.64%	–
V	Exit	VISA INCstock	$0	–	-16,354	–	-1.73%	–
DIS	Exit	THE WALT DISNEY COstock	$0	–	-31,037	–	-1.74%	–
CMCSA	Exit	COMCAST CORPstock	$0	–	-101,591	–	-1.77%	–
AMZN	Exit	AMAZON.COM INCstock	$0	–	-26,662	–	-1.79%	–
VGK	Exit	VANGUARD FTSE EUROPE ETFetf	$0	–	-69,190	–	-1.90%	–
MSFT	Exit	MICROSOFT CORPstock	$0	–	-13,809	–	-1.91%	–
KMI	Exit	KINDER MORGAN INCstock	$0	–	-193,972	–	-1.92%	–
SBUX	Exit	STARBUCKS CORPstock	$0	–	-39,355	–	-1.97%	–
OTIS	Exit	OTIS WORLDWIDE CORPstock	$0	–	-53,607	–	-2.03%	–
DEO	Exit	DIAGEO PLCadr	$0	–	-20,321	–	-2.05%	–
IEMG	Exit	ISHARES CORE EMERGING MARKETS ETFetf	$0	–	-80,596	–	-2.06%	–
FISV	Exit	FISERV INCstock	$0	–	-37,704	–	-2.10%	–
BDX	Exit	BECTON DICKINSON & COstock	$0	–	-15,913	–	-2.11%	–
JNJ	Exit	JOHNSON & JOHNSONstock	$0	–	-22,635	–	-2.20%	–
CVS	Exit	CVS HEALTH CORPstock	$0	–	-40,272	–	-2.28%	–
FLEX	Exit	FLEX LTDstock	$0	–	-244,062	–	-2.42%	–
WMB	Exit	THE WILLIAMS COMPANIES INCstock	$0	–	-146,835	–	-2.50%	–
ABT	Exit	ABBOTT LABORATORIESstock	$0	–	-43,926	–	-2.52%	–
BLK	Exit	BLACKROCK INCstock	$0	–	-8,196	–	-2.68%	–
SNPS	Exit	SYNOPSYS INCstock	$0	–	-15,014	–	-2.72%	–
GLD	Exit	SPDR GOLD SHARESetf	$0	–	-30,210	–	-2.78%	–
BAM	Exit	BROOKFIELD ASSET MANAGEMENT INCstock	$0	–	-121,923	–	-2.96%	–
ADP	Exit	AUTOMATIC DATA PROCESSING INCstock	$0	–	-22,851	–	-3.07%	–
IEF	Exit	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$0	–	-54,345	–	-3.10%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORPstock	$0	–	-68,836	–	-3.35%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INCstock	$0	–	-11,779	–	-3.55%	–
LNG	Exit	CHENIERE ENERGY INCstock	$0	–	-36,387	–	-3.59%	–
GOOGL	Exit	ALPHABET INCstock	$0	–	-63,683	–	-3.62%	–
BRKB	Exit	BERKSHIRE HATHAWAY INCstock	$0	–	-24,305	–	-3.86%	–
SHY	Exit	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$0	–	-94,751	–	-4.57%	–
AAPL	Exit	APPLE INCstock	$0	–	-67,169	–	-5.51%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INCstock	$9,282,000	-8.1%	67,169	-9.1%	5.51%	-1.4%
SHY	Buy	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$7,695,000	-0.8%	94,751	+1.1%	4.57%	+6.4%
BRKB	Buy	BERKSHIRE HATHAWAY INCstock	$6,490,000	-1.5%	24,305	+0.7%	3.86%	+5.6%
GOOGL	Buy	ALPHABET INCstock	$6,091,000	-12.7%	63,683	+1890.1%	3.62%	-6.3%
LNG	Buy	CHENIERE ENERGY INCstock	$6,037,000	+26.2%	36,387	+1.2%	3.59%	+35.4%
TMO	Sell	THERMO FISHER SCIENTIFIC INCstock	$5,974,000	-8.2%	11,779	-1.7%	3.55%	-1.6%
RTX	Buy	RAYTHEON TECHNOLOGIES CORPstock	$5,635,000	-13.3%	68,836	+1.8%	3.35%	-7.0%
IEF	Buy	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$5,217,000	-5.8%	54,345	+0.4%	3.10%	+1.0%
ADP	Sell	AUTOMATIC DATA PROCESSING INCstock	$5,169,000	+5.2%	22,851	-2.3%	3.07%	+12.9%
BAM	Buy	BROOKFIELD ASSET MANAGEMENT INCstock	$4,985,000	-7.0%	121,923	+1.1%	2.96%	-0.3%
GLD	Buy	SPDR GOLD SHARESetf	$4,673,000	-7.7%	30,210	+0.5%	2.78%	-1.0%
SNPS	Sell	SYNOPSYS INCstock	$4,587,000	-0.9%	15,014	-1.5%	2.72%	+6.4%
BLK	Sell	BLACKROCK INCstock	$4,510,000	-11.4%	8,196	-1.9%	2.68%	-4.9%
ABT	Buy	ABBOTT LABORATORIESstock	$4,250,000	-9.5%	43,926	+1.6%	2.52%	-2.9%
WMB	Buy	THE WILLIAMS COMPANIES INCstock	$4,204,000	-4.3%	146,835	+4.3%	2.50%	+2.7%
FLEX	Buy	FLEX LTDstock	$4,066,000	+15.9%	244,062	+0.7%	2.42%	+24.4%
CVS	Buy	CVS HEALTH CORPstock	$3,841,000	+5.4%	40,272	+2.4%	2.28%	+13.0%
JNJ	Buy	JOHNSON & JOHNSONstock	$3,698,000	-6.6%	22,635	+1.4%	2.20%	+0.2%
BDX	Buy	BECTON DICKINSON & COstock	$3,546,000	-7.7%	15,913	+2.1%	2.11%	-1.0%
FISV	Buy	FISERV INCstock	$3,528,000	+7.1%	37,704	+1.9%	2.10%	+15.0%
IEMG	Buy	ISHARES CORE EMERGING MARKETS ETFetf	$3,464,000	-11.7%	80,596	+0.8%	2.06%	-5.2%
DEO	Buy	DIAGEO PLCadr	$3,451,000	-1.1%	20,321	+1.4%	2.05%	+6.2%
OTIS	Sell	OTIS WORLDWIDE CORPstock	$3,420,000	-10.1%	53,607	-0.4%	2.03%	-3.6%
SBUX	Buy	STARBUCKS CORPstock	$3,316,000	+11.0%	39,355	+0.6%	1.97%	+19.1%
KMI	Buy	KINDER MORGAN INCstock	$3,228,000	+2.5%	193,972	+3.3%	1.92%	+9.9%
MSFT	Buy	MICROSOFT CORPstock	$3,216,000	-8.9%	13,809	+0.5%	1.91%	-2.3%
VGK	Buy	VANGUARD FTSE EUROPE ETFetf	$3,193,000	+47.6%	69,190	+69.0%	1.90%	+58.3%
AMZN	Buy	AMAZON.COM INCstock	$3,013,000	+7.1%	26,662	+0.7%	1.79%	+15.0%
CMCSA	Buy	COMCAST CORPstock	$2,980,000	-24.5%	101,591	+1.1%	1.77%	-19.0%
DIS	Buy	THE WALT DISNEY COstock	$2,928,000	+1.5%	31,037	+1.6%	1.74%	+8.9%
V	Sell	VISA INCstock	$2,905,000	-9.8%	16,354	-0.0%	1.73%	-3.2%
NXRT	Buy	NEXPOINT RESIDENTIAL TRUST INCreit	$2,752,000	-23.0%	59,554	+4.2%	1.64%	-17.3%
PEP	Sell	PEPSICO INCstock	$2,593,000	-2.5%	15,884	-0.5%	1.54%	+4.5%
URI	Sell	UNITED RENTALS INCstock	$2,563,000	+10.0%	9,487	-1.1%	1.52%	+17.9%
COST	Sell	COSTCO WHOLESALE CORPstock	$2,556,000	-2.2%	5,413	-0.7%	1.52%	+4.9%
BAC	Buy	BANK OF AMERICA CORPstock	$2,497,000	-1.7%	82,666	+1.3%	1.48%	+5.4%
PLD	Buy	PROLOGIS INCreit	$2,476,000	-12.9%	24,369	+0.9%	1.47%	-6.5%
VZ	Buy	VERIZON COMMUNICATIONS INCstock	$2,438,000	-24.6%	64,217	+0.8%	1.45%	-19.2%
WWD	Sell	WOODWARD INCstock	$2,336,000	-13.7%	29,108	-0.6%	1.39%	-7.4%
IGSB	Buy	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$2,105,000	-0.9%	42,717	+1.6%	1.25%	+6.2%
KMX	Sell	CARMAX INCstock	$2,045,000	-47.8%	30,978	-28.4%	1.22%	-43.9%
JPM	Buy	JPMORGAN CHASE & COstock	$1,975,000	-6.8%	18,904	+0.4%	1.17%	-0.1%
	Buy	GENERAL ELECTRIC COstock	$1,690,000	-1.3%	27,290	+1.5%	1.00%	+5.9%
LLY	Buy	ELI LILLY & COstock	$466,000	+3.3%	1,442	+3.6%	0.28%	+10.8%
UTG	Sell	REAVES UTILITY INCOME FUNDcef	$303,000	-12.7%	11,136	-0.4%	0.18%	-6.2%
AMJ	Sell	J.P. MORGAN ALERIAN MLP INDEX ETNetf	$293,000	+4.3%	14,620	-1.3%	0.17%	+11.5%
HSY	New	HERSHEY CO COMstock	$254,000	–	1,150	–	0.15%	–
UL	Buy	UNILEVER PLCadr	$245,000	-3.5%	5,597	+0.8%	0.15%	+3.5%
SO	Exit	THE SOUTHERN COMPANYstock	$0	–	-4,900	–	-0.19%	–
STOR	Exit	STORE CAPITAL CORPreit	$0	–	-127,399	–	-1.84%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE INCstock	$10,102,000	–	73,889	–	5.59%	–
SHY	New	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$7,760,000	–	93,737	–	4.30%	–
GOOGL	New	ALPHABET INCstock	$6,974,000	–	3,200	–	3.86%	–
BRKB	New	BERKSHIRE HATHAWAY INCstock	$6,591,000	–	24,142	–	3.65%	–
TMO	New	THERMO FISHER SCIENTIFIC INCstock	$6,509,000	–	11,981	–	3.60%	–
RTX	New	RAYTHEON TECHNOLOGIES CORPstock	$6,502,000	–	67,652	–	3.60%	–
IEF	New	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$5,540,000	–	54,150	–	3.07%	–
BAM	New	BROOKFIELD ASSET MANAGEMENT INCstock	$5,362,000	–	120,572	–	2.97%	–
BLK	New	BLACKROCK INCstock	$5,089,000	–	8,356	–	2.82%	–
GLD	New	SPDR GOLD SHARESetf	$5,065,000	–	30,068	–	2.80%	–
ADP	New	AUTOMATIC DATA PROCESSING INCstock	$4,912,000	–	23,388	–	2.72%	–
LNG	New	CHENIERE ENERGY INCstock	$4,783,000	–	35,951	–	2.65%	–
ABT	New	ABBOTT LABORATORIESstock	$4,695,000	–	43,214	–	2.60%	–
SNPS	New	SYNOPSYS INCstock	$4,627,000	–	15,236	–	2.56%	–
WMB	New	THE WILLIAMS COMPANIES INCstock	$4,393,000	–	140,765	–	2.43%	–
JNJ	New	JOHNSON & JOHNSONstock	$3,961,000	–	22,312	–	2.19%	–
CMCSA	New	COMCAST CORPstock	$3,945,000	–	100,533	–	2.18%	–
IEMG	New	ISHARES CORE EMERGING MARKETS ETFetf	$3,921,000	–	79,924	–	2.17%	–
KMX	New	CARMAX INCstock	$3,914,000	–	43,254	–	2.17%	–
BDX	New	BECTON DICKINSON & COstock	$3,843,000	–	15,588	–	2.13%	–
OTIS	New	OTIS WORLDWIDE CORPstock	$3,803,000	–	53,817	–	2.11%	–
CVS	New	CVS HEALTH CORPstock	$3,645,000	–	39,335	–	2.02%	–
NXRT	New	NEXPOINT RESIDENTIAL TRUST INCreit	$3,572,000	–	57,150	–	1.98%	–
MSFT	New	MICROSOFT CORPstock	$3,530,000	–	13,746	–	1.95%	–
FLEX	New	FLEX LTDstock	$3,507,000	–	242,372	–	1.94%	–
DEO	New	DIAGEO PLCadr	$3,488,000	–	20,033	–	1.93%	–
STOR	New	STORE CAPITAL CORPreit	$3,323,000	–	127,399	–	1.84%	–
FISV	New	FISERV INCstock	$3,293,000	–	37,014	–	1.82%	–
VZ	New	VERIZON COMMUNICATIONS INCstock	$3,234,000	–	63,722	–	1.79%	–
V	New	VISA INCstock	$3,221,000	–	16,360	–	1.78%	–
KMI	New	KINDER MORGAN INCstock	$3,149,000	–	187,866	–	1.74%	–
SBUX	New	STARBUCKS CORPstock	$2,988,000	–	39,118	–	1.65%	–
DIS	New	THE WALT DISNEY COstock	$2,885,000	–	30,563	–	1.60%	–
PLD	New	PROLOGIS INCreit	$2,842,000	–	24,158	–	1.57%	–
AMZN	New	AMAZON.COM INCstock	$2,812,000	–	26,479	–	1.56%	–
WWD	New	WOODWARD INCstock	$2,708,000	–	29,284	–	1.50%	–
PEP	New	PEPSICO INCstock	$2,660,000	–	15,959	–	1.47%	–
COST	New	COSTCO WHOLESALE CORPstock	$2,613,000	–	5,452	–	1.45%	–
BAC	New	BANK OF AMERICA CORPstock	$2,541,000	–	81,629	–	1.41%	–
URI	New	UNITED RENTALS INCstock	$2,331,000	–	9,595	–	1.29%	–
VGK	New	VANGUARD FTSE EUROPE ETFetf	$2,163,000	–	40,941	–	1.20%	–
IGSB	New	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$2,125,000	–	42,042	–	1.18%	–
JPM	New	JPMORGAN CHASE & COstock	$2,120,000	–	18,826	–	1.17%	–
	New	GENERAL ELECTRIC COstock	$1,712,000	–	26,884	–	0.95%	–
LLY	New	ELI LILLY & COstock	$451,000	–	1,392	–	0.25%	–
SO	New	THE SOUTHERN COMPANYstock	$349,000	–	4,900	–	0.19%	–
UTG	New	REAVES UTILITY INCOME FUNDcef	$347,000	–	11,180	–	0.19%	–
AMJ	New	JPMORGAN ALERIAN MLP INDEX ETNetf	$281,000	–	14,820	–	0.16%	–
UL	New	UNILEVER PLCadr	$254,000	–	5,552	–	0.14%	–
F	New	FORD MOTOR COstock	$175,000	–	15,700	–	0.10%	–

Q4 2021

			Value		Shares		↓ Weighting
F	Exit	FORD MTR CO DEL COMstock	$0	–	-17,925	–	-0.12%	–
AMJ	Exit	JPMORGAN ALERIAN MLP INDEX ETNetf	$0	–	-14,810	–	-0.13%	–
LLY	Exit	LILLY ELI & CO COMstock	$0	–	-1,168	–	-0.13%	–
UTG	Exit	REAVES UTIL INCOME FD COM SH BEN INTcef	$0	–	-9,208	–	-0.15%	–
GLD	Exit	SPDR GOLD SHARESetf	$0	–	-2,419	–	-0.20%	–
BABA	Exit	ALIBABA GROUP HLDG LTD SPONSORED ADSadr	$0	–	-12,501	–	-0.91%	–
IGSB	Exit	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$0	–	-40,592	–	-1.09%	–
VGK	Exit	VANGUARD FTSE EUROPE ETFetf	$0	–	-39,991	–	-1.29%	–
PFE	Exit	PFIZER INC COMstock	$0	–	-64,599	–	-1.37%	–
V	Exit	VISA INC COM CL Astock	$0	–	-12,975	–	-1.42%	–
	Exit	GENERAL ELECTRIC CO COM NEWstock	$0	–	-28,674	–	-1.45%	–
PLD	Exit	PROLOGIS INC. COMreit	$0	–	-23,865	–	-1.47%	–
JPM	Exit	JPMORGAN CHASE & CO COMstock	$0	–	-18,311	–	-1.48%	–
PEP	Exit	PEPSICO INC COMstock	$0	–	-20,953	–	-1.55%	–
KMI	Exit	KINDER MORGAN INC DEL COMstock	$0	–	-191,353	–	-1.58%	–
FISV	Exit	FISERV INC COMstock	$0	–	-30,299	–	-1.62%	–
WWD	Exit	WOODWARD INC COMstock	$0	–	-29,059	–	-1.62%	–
URI	Exit	UNITED RENTALS INC COMstock	$0	–	-9,524	–	-1.64%	–
CVS	Exit	CVS HEALTH CORP COMstock	$0	–	-39,459	–	-1.65%	–
BAC	Exit	BK OF AMERICA CORP COMstock	$0	–	-81,420	–	-1.70%	–
JNJ	Exit	JOHNSON & JOHNSON COMstock	$0	–	-22,481	–	-1.79%	–
DEO	Exit	DIAGEO PLC SPON ADR NEWadr	$0	–	-19,841	–	-1.88%	–
BDX	Exit	BECTON DICKINSON & CO COMstock	$0	–	-15,641	–	-1.89%	–
COST	Exit	COSTCO WHSL CORP NEW COMstock	$0	–	-8,746	–	-1.94%	–
STOR	Exit	STORE CAP CORP COMreit	$0	–	-123,251	–	-1.94%	–
BLK	Exit	BLACKROCK INC COMstock	$0	–	-4,880	–	-2.02%	–
NXRT	Exit	NEXPOINT RESIDENTIAL TR INC COMreit	$0	–	-67,700	–	-2.06%	–
FLEX	Exit	FLEX LTD ORDstock	$0	–	-237,057	–	-2.06%	–
KMX	Exit	CARMAX INC COMstock	$0	–	-33,290	–	-2.10%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COMstock	$0	–	-79,302	–	-2.11%	–
IEF	Exit	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$0	–	-37,536	–	-2.13%	–
OTIS	Exit	OTIS WORLDWIDE CORP COMstock	$0	–	-53,646	–	-2.17%	–
WMB	Exit	WILLIAMS COS INC COMstock	$0	–	-179,392	–	-2.29%	–
ADP	Exit	AUTOMATIC DATA PROCESSING INC COMstock	$0	–	-23,490	–	-2.31%	–
IEMG	Exit	ISHARES CORE MSCI EMERGING MARKETS ETFetf	$0	–	-78,597	–	-2.39%	–
UL	Exit	UNILEVER PLC SPON ADR NEWadr	$0	–	-90,188	–	-2.41%	–
LNG	Exit	CHENIERE ENERGY INC COM NEWstock	$0	–	-50,085	–	-2.41%	–
SBUX	Exit	STARBUCKS CORP COMstock	$0	–	-44,492	–	-2.42%	–
DIS	Exit	DISNEY WALT CO COMstock	$0	–	-29,366	–	-2.45%	–
CMCSA	Exit	COMCAST CORP NEW CL Astock	$0	–	-99,702	–	-2.74%	–
SNPS	Exit	SYNOPSYS INC COMstock	$0	–	-19,847	–	-2.92%	–
ABT	Exit	ABBOTT LABS COMstock	$0	–	-51,830	–	-3.01%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP COMstock	$0	–	-73,311	–	-3.10%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DEL CL B NEWstock	$0	–	-25,695	–	-3.45%	–
BAM	Exit	BROOKFIELD ASSET MGMT INC CL A LTD VT SHstock	$0	–	-140,728	–	-3.71%	–
SHY	Exit	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$0	–	-91,561	–	-3.88%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC COMstock	$0	–	-14,251	–	-4.01%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Astock	$0	–	-3,124	–	-4.11%	–
AAPL	Exit	APPLE INC COMstock	$0	–	-81,926	–	-5.71%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC COMstock	$11,593,000	+5.0%	81,926	+1.6%	5.71%	+4.8%
GOOGL	Sell	ALPHABET INC CAP STK CL Astock	$8,353,000	+7.3%	3,124	-2.1%	4.11%	+7.1%
TMO	Sell	THERMO FISHER SCIENTIFIC INC COMstock	$8,142,000	+10.9%	14,251	-2.1%	4.01%	+10.7%
SHY	Buy	ISHARES 1-3 YEAR TREASURY BOND ETFetf	$7,888,000	+0.5%	91,561	+0.5%	3.88%	+0.3%
BAM	Sell	BROOKFIELD ASSET MGMT INC CL A LTD VT SHstock	$7,530,000	+4.7%	140,728	-0.2%	3.71%	+4.6%
BRKB	Buy	BERKSHIRE HATHAWAY INC DEL CL B NEWstock	$7,013,000	+0.4%	25,695	+2.2%	3.45%	+0.2%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP COMstock	$6,302,000	+1.6%	73,311	+0.8%	3.10%	+1.4%
ABT	Sell	ABBOTT LABS COMstock	$6,123,000	+0.9%	51,830	-1.0%	3.01%	+0.7%
SNPS	Sell	SYNOPSYS INC COMstock	$5,942,000	+4.9%	19,847	-3.4%	2.92%	+4.8%
CMCSA	Buy	COMCAST CORP NEW CL Astock	$5,576,000	-0.3%	99,702	+1.7%	2.74%	-0.4%
DIS	Buy	DISNEY WALT CO COMstock	$4,968,000	-3.1%	29,366	+0.6%	2.45%	-3.3%
SBUX	Sell	STARBUCKS CORP COMstock	$4,908,000	-2.1%	44,492	-0.8%	2.42%	-2.3%
LNG	Buy	CHENIERE ENERGY INC COM NEWstock	$4,892,000	+14.4%	50,085	+1.6%	2.41%	+14.2%
UL	Buy	UNILEVER PLC SPON ADR NEWadr	$4,890,000	-5.5%	90,188	+1.9%	2.41%	-5.7%
IEMG	Buy	ISHARES CORE MSCI EMERGING MARKETS ETFetf	$4,854,000	-7.3%	78,597	+0.6%	2.39%	-7.4%
ADP	Buy	AUTOMATIC DATA PROCESSING INC COMstock	$4,696,000	+1.5%	23,490	+0.8%	2.31%	+1.4%
WMB	Buy	WILLIAMS COS INC COMstock	$4,653,000	+0.8%	179,392	+3.2%	2.29%	+0.7%
OTIS	Sell	OTIS WORLDWIDE CORP COMstock	$4,414,000	+0.3%	53,646	-0.3%	2.17%	+0.1%
IEF	Buy	ISHARES 7-10 YEAR TREASURY BOND ETFetf	$4,325,000	+1.7%	37,536	+1.9%	2.13%	+1.5%
VZ	Buy	VERIZON COMMUNICATIONS INC COMstock	$4,283,000	-3.2%	79,302	+0.5%	2.11%	-3.3%
KMX	Buy	CARMAX INC COMstock	$4,260,000	-0.3%	33,290	+0.6%	2.10%	-0.4%
FLEX	Buy	FLEX LTD ORDstock	$4,191,000	+3.3%	237,057	+4.4%	2.06%	+3.2%
NXRT	Sell	NEXPOINT RESIDENTIAL TR INC COMreit	$4,189,000	+10.0%	67,700	-2.3%	2.06%	+9.8%
BLK	Buy	BLACKROCK INC COMstock	$4,093,000	-3.7%	4,880	+0.5%	2.02%	-3.9%
STOR	Buy	STORE CAP CORP COMreit	$3,948,000	-5.2%	123,251	+2.1%	1.94%	-5.4%
COST	Sell	COSTCO WHSL CORP NEW COMstock	$3,930,000	+8.6%	8,746	-4.4%	1.94%	+8.5%
BDX	Buy	BECTON DICKINSON & CO COMstock	$3,845,000	+3.2%	15,641	+2.1%	1.89%	+3.1%
DEO	Buy	DIAGEO PLC SPON ADR NEWadr	$3,829,000	+5.5%	19,841	+4.8%	1.88%	+5.4%
JNJ	Buy	JOHNSON & JOHNSON COMstock	$3,631,000	-1.1%	22,481	+0.8%	1.79%	-1.3%
BAC	Sell	BK OF AMERICA CORP COMstock	$3,456,000	+2.9%	81,420	-0.1%	1.70%	+2.7%
CVS	Buy	CVS HEALTH CORP COMstock	$3,348,000	+3.7%	39,459	+1.9%	1.65%	+3.5%
URI	Sell	UNITED RENTALS INC COMstock	$3,342,000	+7.0%	9,524	-2.7%	1.64%	+6.9%
WWD	Buy	WOODWARD INC COMstock	$3,289,000	-5.9%	29,059	+2.2%	1.62%	-6.0%
FISV	New	FISERV INC COMstock	$3,287,000	–	30,299	–	1.62%	–
KMI	Buy	KINDER MORGAN INC DEL COMstock	$3,201,000	-5.9%	191,353	+2.5%	1.58%	-6.0%
PEP	Buy	PEPSICO INC COMstock	$3,152,000	+4.0%	20,953	+2.4%	1.55%	+3.9%
JPM	Sell	JPMORGAN CHASE & CO COMstock	$2,997,000	+2.7%	18,311	-2.4%	1.48%	+2.6%
PLD	Sell	PROLOGIS INC. COMreit	$2,993,000	+3.6%	23,865	-1.3%	1.47%	+3.4%
	New	GENERAL ELECTRIC CO COM NEWstock	$2,954,000	–	28,674	–	1.45%	–
V	Buy	VISA INC COM CL Astock	$2,890,000	-2.2%	12,975	+2.7%	1.42%	-2.3%
PFE	Buy	PFIZER INC COMstock	$2,778,000	+11.1%	64,599	+1.2%	1.37%	+10.9%
VGK	Buy	VANGUARD FTSE EUROPE ETFetf	$2,624,000	-1.8%	39,991	+0.6%	1.29%	-2.0%
IGSB	New	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETFetf	$2,218,000	–	40,592	–	1.09%	–
BABA	Buy	ALIBABA GROUP HLDG LTD SPONSORED ADSadr	$1,851,000	-32.8%	12,501	+3.0%	0.91%	-32.9%
GLD	Buy	SPDR GOLD SHARESetf	$397,000	+18.9%	2,419	+19.8%	0.20%	+18.2%
UTG	Buy	REAVES UTIL INCOME FD COM SH BEN INTcef	$302,000	+4.1%	9,208	+9.0%	0.15%	+4.2%
LLY	Sell	LILLY ELI & CO COMstock	$270,000	-58.3%	1,168	-58.6%	0.13%	-58.3%
AMJ	Sell	JPMORGAN ALERIAN MLP INDEX ETNetf	$269,000	-8.5%	14,810	-1.1%	0.13%	-9.0%
SEGI	Exit	Sycamore Entertainment Group	$0	–	-30,000	–	0.00%	–
IBZT	Exit	IBIZ Technology	$0	–	-10,000	–	0.00%	–
SESN	Exit	Sesen Bio Inc.	$0	–	-10,000	–	-0.02%	–
SYK	Exit	Stryker Corp	$0	–	-850	–	-0.11%	–
AMZN	Exit	Amazon.com Incorporated	$0	–	-117	–	-0.20%	–
MSFT	Exit	Microsoft	$0	–	-2,094	–	-0.28%	–
UPS	Exit	United Parcel Service	$0	–	-12,480	–	-1.28%	–
GE	Exit	General Electric	$0	–	-204,226	–	-1.36%	–
SCHW	Exit	Schwab Charles Corporation	$0	–	-55,189	–	-1.98%	–

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$11,045,000	–	80,645	–	5.44%	–
SHY	New	IShares Barclays 1-3 YR Treasu	$7,850,000	–	91,106	–	3.87%	–
GOOGL	New	Alphabet Inc Cap Cl A.	$7,788,000	–	3,190	–	3.84%	–
TMO	New	Thermo Fisher Scientific Inc.	$7,342,000	–	14,555	–	3.62%	–
BAM	New	Brookfield Asset Management	$7,191,000	–	141,053	–	3.54%	–
BRKB	New	Berkshire Hathaway	$6,988,000	–	25,144	–	3.44%	–
RTX	New	Raytheon Technologies	$6,205,000	–	72,733	–	3.06%	–
ABT	New	Abbott Laboratories	$6,071,000	–	52,368	–	2.99%	–
SNPS	New	Synopsys Incorporated	$5,664,000	–	20,539	–	2.79%	–
CMCSA	New	Comcast Corp-Class A	$5,592,000	–	98,068	–	2.76%	–
IEMG	New	IShares Core MSCI Emerging	$5,234,000	–	78,131	–	2.58%	–
UL	New	Unilever PLC	$5,177,000	–	88,493	–	2.55%	–
DIS	New	Walt Disney Company	$5,129,000	–	29,177	–	2.53%	–
SBUX	New	Starbucks Corporation	$5,014,000	–	44,846	–	2.47%	–
ADP	New	Automatic Data Processing	$4,627,000	–	23,296	–	2.28%	–
WMB	New	Williams Companies	$4,614,000	–	173,802	–	2.28%	–
VZ	New	Verizon Communications	$4,423,000	–	78,941	–	2.18%	–
OTIS	New	Otis Worldwide Corporation	$4,401,000	–	53,820	–	2.17%	–
LNG	New	Cheniere Energy Incorporated	$4,275,000	–	49,284	–	2.11%	–
KMX	New	CarMax Inc.	$4,272,000	–	33,079	–	2.11%	–
IEF	New	IShares 7-10 Year Treasury Bon	$4,254,000	–	36,832	–	2.10%	–
BLK	New	Blackrock Inc	$4,251,000	–	4,858	–	2.10%	–
STOR	New	Store Capital Corporation	$4,166,000	–	120,722	–	2.05%	–
FLEX	New	Flextronics International	$4,056,000	–	226,981	–	2.00%	–
SCHW	New	Schwab Charles Corporation	$4,018,000	–	55,189	–	1.98%	–
NXRT	New	Nexpoint Residential Trust	$3,809,000	–	69,275	–	1.88%	–
BDX	New	Becton Dickinson & Company	$3,724,000	–	15,312	–	1.84%	–
JNJ	New	Johnson & Johnson	$3,673,000	–	22,298	–	1.81%	–
DEO	New	Diageo PLC Sponsored ADR	$3,629,000	–	18,930	–	1.79%	–
COST	New	Costco Wholesale	$3,618,000	–	9,145	–	1.78%	–
WWD	New	Woodward Incorporated	$3,494,000	–	28,433	–	1.72%	–
KMI	New	Kinder Morgan Incorporated	$3,402,000	–	186,625	–	1.68%	–
BAC	New	Bank Of America	$3,360,000	–	81,482	–	1.66%	–
CVS	New	CVS Corporation	$3,230,000	–	38,714	–	1.59%	–
URI	New	United Rentals Incorporated	$3,122,000	–	9,786	–	1.54%	–
PEP	New	Pepsico	$3,031,000	–	20,457	–	1.49%	–
V	New	Visa Incorporated	$2,955,000	–	12,636	–	1.46%	–
JPM	New	J.P. Morgan Chase & Company	$2,917,000	–	18,755	–	1.44%	–
PLD	New	Prologis SBI	$2,889,000	–	24,173	–	1.42%	–
BABA	New	Alibaba Group Holding Ltd.	$2,753,000	–	12,141	–	1.36%	–
GE	New	General Electric	$2,749,000	–	204,226	–	1.36%	–
VGK	New	Vanguard FTSE Europe ETF	$2,673,000	–	39,741	–	1.32%	–
UPS	New	United Parcel Service	$2,595,000	–	12,480	–	1.28%	–
PFE	New	Pfizer	$2,500,000	–	63,834	–	1.23%	–
LLY	New	Eli Lilly & Company	$647,000	–	2,818	–	0.32%	–
MSFT	New	Microsoft	$567,000	–	2,094	–	0.28%	–
AMZN	New	Amazon.com Incorporated	$402,000	–	117	–	0.20%	–
GLD	New	SPDR Gold TR Gold	$334,000	–	2,019	–	0.16%	–
AMJ	New	JPMorgan Alerian MLP ETN	$294,000	–	14,970	–	0.14%	–
UTG	New	Reaves Utility Income Fund	$290,000	–	8,449	–	0.14%	–
F	New	Ford Motor Company	$266,000	–	17,925	–	0.13%	–
SYK	New	Stryker Corp	$221,000	–	850	–	0.11%	–
SESN	New	Sesen Bio Inc.	$46,000	–	10,000	–	0.02%	–
IBZT	New	IBIZ Technology	$0	–	10,000	–	0.00%	–
SEGI	New	Sycamore Entertainment Group	$0	–	30,000	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-10,000	–	0.00%	–
M	Exit	Macys Inc.	$0	–	-14,200	–	-0.05%	–
DVN	Exit	Devon Energy Corp New	$0	–	-11,800	–	-0.07%	–
AMJ	Exit	JPMorgan Alerian MLP ETN	$0	–	-11,950	–	-0.08%	–
BPR	Exit	Brookfield Property Reit	$0	–	-15,030	–	-0.12%	–
F	Exit	Ford Motor Company	$0	–	-29,250	–	-0.13%	–
UTG	Exit	Reaves Utility Income Fund	$0	–	-7,798	–	-0.16%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-1,815	–	-0.21%	–
MSFT	Exit	Microsoft	$0	–	-1,862	–	-0.26%	–
LLY	Exit	Eli Lilly & Company	$0	–	-2,970	–	-0.29%	–
AMZN	Exit	Amazon.com Incorporated	$0	–	-145	–	-0.30%	–
UN	Exit	Unilever N V	$0	–	-13,037	–	-0.51%	–
GE	Exit	General Electric	$0	–	-195,755	–	-0.80%	–
SLB	Exit	Schlumberger Ltd	$0	–	-84,986	–	-0.86%	–
SCHW	Exit	Schwab Charles Corporation	$0	–	-54,530	–	-1.29%	–
VGK	Exit	Vanguard FTSE Europe ETF	$0	–	-39,325	–	-1.34%	–
UPS	Exit	United Parcel Service	$0	–	-12,955	–	-1.41%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-23,219	–	-1.46%	–
LNG	Exit	Cheniere Energy Incorporated	$0	–	-48,650	–	-1.47%	–
WWD	Exit	Woodward Incorporated	$0	–	-28,404	–	-1.48%	–
PFE	Exit	Pfizer	$0	–	-62,929	–	-1.50%	–
FLEX	Exit	Flextronics International	$0	–	-221,876	–	-1.61%	–
DEO	Exit	Diageo PLC Sponsored ADR	$0	–	-18,328	–	-1.64%	–
V	Exit	Visa Incorporated	$0	–	-12,644	–	-1.65%	–
KMI	Exit	Kinder Morgan Incorporated	$0	–	-214,700	–	-1.72%	–
BAC	Exit	Bank Of America	$0	–	-119,778	–	-1.88%	–
URI	Exit	United Rentals Incorporated	$0	–	-17,662	–	-2.01%	–
JNJ	Exit	Johnson & Johnson	$0	–	-21,224	–	-2.06%	–
STOR	Exit	Store Capital Corporation	$0	–	-116,127	–	-2.08%	–
COST	Exit	Costco Wholesale	$0	–	-9,008	–	-2.08%	–
ADP	Exit	Automatic Data Processing	$0	–	-23,234	–	-2.11%	–
PLD	Exit	Prologis SBI	$0	–	-32,472	–	-2.13%	–
RTX	Exit	Raytheon Technologies	$0	–	-57,224	–	-2.14%	–
IEF	Exit	IShares 7-10 Year Treasury Bon	$0	–	-27,081	–	-2.15%	–
OTIS	Exit	Otis Worldwide Corporation	$0	–	-53,120	–	-2.16%	–
SHY	Exit	IShares Barclays 1-3 YR Treasu	$0	–	-39,270	–	-2.21%	–
BDX	Exit	Becton Dickinson & Company	$0	–	-14,931	–	-2.26%	–
WMB	Exit	Williams Companies	$0	–	-177,222	–	-2.27%	–
DIS	Exit	Walt Disney Company	$0	–	-28,818	–	-2.33%	–
UL	Exit	Unilever PLC	$0	–	-58,505	–	-2.35%	–
BLK	Exit	Blackrock Inc	$0	–	-6,414	–	-2.36%	–
KMX	Exit	CarMax Inc.	$0	–	-41,286	–	-2.47%	–
IEMG	Exit	IShares Core MSCI Emerging	$0	–	-77,125	–	-2.65%	–
CMCSA	Exit	Comcast Corp-Class A	$0	–	-94,906	–	-2.86%	–
NXRT	Exit	Nexpoint Residential Trust	$0	–	-103,612	–	-2.99%	–
VZ	Exit	Verizon Communications	$0	–	-77,556	–	-3.00%	–
GOOGL	Exit	Alphabet Inc Cap Cl A.	$0	–	-3,148	–	-3.00%	–
BAM	Exit	Brookfield Asset Management	$0	–	-140,489	–	-3.03%	–
SBUX	Exit	Starbucks Corporation	$0	–	-54,415	–	-3.04%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-24,439	–	-3.41%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-24,565	–	-3.41%	–
ABT	Exit	Abbott Laboratories	$0	–	-53,011	–	-3.76%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-14,423	–	-4.15%	–
AAPL	Exit	Apple Inc	$0	–	-96,078	–	-7.25%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Inc	$11,127,000	+27.4%	96,078	+301.3%	7.25%	+12.8%
TMO	Sell	Thermo Fisher Scientific Inc.	$6,368,000	+20.9%	14,423	-0.8%	4.15%	+7.0%
ABT	Sell	Abbott Laboratories	$5,769,000	+18.7%	53,011	-0.3%	3.76%	+5.1%
BRKB	Buy	Berkshire Hathaway	$5,231,000	+19.8%	24,565	+0.5%	3.41%	+6.1%
SNPS	Buy	Synopsys Incorporated	$5,229,000	+10.0%	24,439	+0.3%	3.41%	-2.6%
SBUX	Buy	Starbucks Corporation	$4,675,000	+71.5%	54,415	+46.9%	3.04%	+51.8%
BAM	Buy	Brookfield Asset Management	$4,645,000	+0.7%	140,489	+0.2%	3.03%	-10.9%
VZ	Buy	Verizon Communications	$4,614,000	+8.1%	77,556	+0.1%	3.00%	-4.4%
GOOGL	Buy	Alphabet Inc Cap Cl A.	$4,613,000	+7.1%	3,148	+3.6%	3.00%	-5.2%
NXRT	Buy	Nexpoint Residential Trust	$4,595,000	+26.3%	103,612	+0.7%	2.99%	+11.8%
CMCSA	Sell	Comcast Corp-Class A	$4,390,000	+18.6%	94,906	-0.0%	2.86%	+5.0%
IEMG	Buy	IShares Core MSCI Emerging	$4,072,000	+11.0%	77,125	+0.0%	2.65%	-1.8%
KMX	Buy	CarMax Inc.	$3,795,000	+3.5%	41,286	+0.8%	2.47%	-8.4%
BLK	Sell	Blackrock Inc	$3,615,000	+2.8%	6,414	-0.7%	2.36%	-9.0%
UL	Buy	Unilever PLC	$3,609,000	+13.1%	58,505	+0.7%	2.35%	+0.2%
DIS	Buy	Walt Disney Company	$3,575,000	+12.1%	28,818	+0.8%	2.33%	-0.8%
WMB	Sell	Williams Companies	$3,482,000	+3.0%	177,222	-0.3%	2.27%	-8.8%
BDX	Sell	Becton Dickinson & Company	$3,474,000	-3.4%	14,931	-0.6%	2.26%	-14.4%
SHY	Sell	IShares Barclays 1-3 YR Treasu	$3,397,000	-1.8%	39,270	-1.7%	2.21%	-13.0%
OTIS	Buy	Otis Worldwide Corporation	$3,316,000	+9.9%	53,120	+0.1%	2.16%	-2.7%
IEF	Sell	IShares 7-10 Year Treasury Bon	$3,299,000	-2.6%	27,081	-2.5%	2.15%	-13.8%
RTX	Buy	Raytheon Technologies	$3,293,000	-3.8%	57,224	+3.0%	2.14%	-14.8%
PLD	Sell	Prologis SBI	$3,267,000	+7.1%	32,472	-0.6%	2.13%	-5.2%
ADP	Buy	Automatic Data Processing	$3,241,000	+44.2%	23,234	+53.9%	2.11%	+27.6%
COST	Sell	Costco Wholesale	$3,198,000	+16.1%	9,008	-0.8%	2.08%	+2.8%
STOR	Buy	Store Capital Corporation	$3,185,000	+15.2%	116,127	+0.0%	2.08%	+2.0%
JNJ	Buy	Johnson & Johnson	$3,160,000	+5.9%	21,224	+0.1%	2.06%	-6.2%
URI	Sell	United Rentals Incorporated	$3,082,000	+16.5%	17,662	-0.5%	2.01%	+3.1%
BAC	Buy	Bank Of America	$2,885,000	+1.8%	119,778	+0.4%	1.88%	-9.9%
KMI	Buy	Kinder Morgan Incorporated	$2,647,000	-18.7%	214,700	+0.0%	1.72%	-28.0%
V	Sell	Visa Incorporated	$2,528,000	+3.2%	12,644	-0.3%	1.65%	-8.6%
DEO	New	Diageo PLC Sponsored ADR	$2,523,000	–	18,328	–	1.64%	–
FLEX	Buy	Flextronics International	$2,472,000	+9.7%	221,876	+0.9%	1.61%	-2.9%
PFE	Sell	Pfizer	$2,309,000	+11.3%	62,929	-0.8%	1.50%	-1.5%
WWD	Sell	Woodward Incorporated	$2,277,000	+2.5%	28,404	-0.9%	1.48%	-9.3%
LNG	Sell	Cheniere Energy Incorporated	$2,251,000	-4.4%	48,650	-0.2%	1.47%	-15.4%
JPM	Buy	J.P. Morgan Chase & Company	$2,235,000	+9.5%	23,219	+7.0%	1.46%	-3.1%
UPS	Sell	United Parcel Service	$2,159,000	+49.7%	12,955	-0.1%	1.41%	+32.5%
VGK	Buy	Vanguard FTSE Europe ETF	$2,062,000	+4.4%	39,325	+0.1%	1.34%	-7.6%
SCHW	Buy	Schwab Charles Corporation	$1,976,000	+7.4%	54,530	+0.1%	1.29%	-4.9%
SLB	Sell	Schlumberger Ltd	$1,322,000	-16.1%	84,986	-0.8%	0.86%	-25.7%
GE	Sell	General Electric	$1,220,000	-10.0%	195,755	-1.4%	0.80%	-20.3%
UN	Sell	Unilever N V	$787,000	+12.8%	13,037	-0.5%	0.51%	-0.2%
AMZN	Buy	Amazon.com Incorporated	$457,000	+18.4%	145	+3.6%	0.30%	+4.9%
LLY	Buy	Eli Lilly & Company	$440,000	+13.1%	2,970	+25.3%	0.29%	+0.3%
MSFT	Buy	Microsoft	$392,000	+14.6%	1,862	+10.7%	0.26%	+1.2%
UTG	Sell	Reaves Utility Income Fund	$244,000	+3.4%	7,798	-0.4%	0.16%	-8.6%
BPR	Buy	Brookfield Property Reit	$184,000	+27.8%	15,030	+4.3%	0.12%	+13.2%
AMJ	Buy	JPMorgan Alerian MLP ETN	$129,000	-13.4%	11,950	+6.1%	0.08%	-23.6%

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$8,735,000	–	23,944	–	6.43%	–
TMO	New	Thermo Fisher Scientific Inc.	$5,268,000	–	14,540	–	3.88%	–
ABT	New	Abbott Laboratories	$4,860,000	–	53,153	–	3.58%	–
SNPS	New	Synopsys Incorporated	$4,754,000	–	24,377	–	3.50%	–
BAM	New	Brookfield Asset Management	$4,614,000	–	140,235	–	3.40%	–
BRKB	New	Berkshire Hathaway	$4,365,000	–	24,454	–	3.21%	–
GOOGL	New	Alphabet Inc Cap Cl A.	$4,307,000	–	3,038	–	3.17%	–
VZ	New	Verizon Communications	$4,270,000	–	77,449	–	3.14%	–
CMCSA	New	Comcast Corp-Class A	$3,700,000	–	94,926	–	2.72%	–
IEMG	New	IShares Core MSCI Emerging	$3,670,000	–	77,100	–	2.70%	–
KMX	New	CarMax Inc.	$3,668,000	–	40,960	–	2.70%	–
NXRT	New	Nexpoint Residential Trust	$3,637,000	–	102,872	–	2.68%	–
BDX	New	Becton Dickinson & Company	$3,595,000	–	15,023	–	2.64%	–
BLK	New	Blackrock Inc	$3,516,000	–	6,462	–	2.59%	–
SHY	New	IShares Barclays 1-3 YR Treasu	$3,458,000	–	39,931	–	2.54%	–
RTX	New	Raytheon Technologies	$3,422,000	–	55,541	–	2.52%	–
IEF	New	IShares 7-10 Year Treasury Bon	$3,387,000	–	27,789	–	2.49%	–
WMB	New	Williams Companies	$3,381,000	–	177,759	–	2.49%	–
KMI	New	Kinder Morgan Incorporated	$3,255,000	–	214,595	–	2.40%	–
UL	New	Unilever PLC	$3,190,000	–	58,119	–	2.35%	–
DIS	New	Walt Disney Company	$3,189,000	–	28,603	–	2.35%	–
PLD	New	Prologis SBI	$3,049,000	–	32,672	–	2.24%	–
OTIS	New	Otis Worldwide Corporation	$3,017,000	–	53,059	–	2.22%	–
JNJ	New	Johnson & Johnson	$2,983,000	–	21,212	–	2.20%	–
BAC	New	Bank Of America	$2,833,000	–	119,263	–	2.08%	–
STOR	New	Store Capital Corporation	$2,764,000	–	116,102	–	2.03%	–
COST	New	Costco Wholesale	$2,754,000	–	9,082	–	2.03%	–
SBUX	New	Starbucks Corporation	$2,726,000	–	37,037	–	2.01%	–
URI	New	United Rentals Incorporated	$2,646,000	–	17,755	–	1.95%	–
V	New	Visa Incorporated	$2,449,000	–	12,676	–	1.80%	–
LNG	New	Cheniere Energy Incorporated	$2,355,000	–	48,728	–	1.73%	–
FLEX	New	Flextronics International	$2,253,000	–	219,801	–	1.66%	–
ADP	New	Automatic Data Processing	$2,248,000	–	15,101	–	1.65%	–
WWD	New	Woodward Incorporated	$2,222,000	–	28,649	–	1.64%	–
PFE	New	Pfizer	$2,075,000	–	63,467	–	1.53%	–
JPM	New	J.P. Morgan Chase & Company	$2,041,000	–	21,699	–	1.50%	–
VGK	New	Vanguard FTSE Europe ETF	$1,976,000	–	39,270	–	1.45%	–
SCHW	New	Schwab Charles Corporation	$1,839,000	–	54,495	–	1.35%	–
SLB	New	Schlumberger Ltd	$1,575,000	–	85,656	–	1.16%	–
UPS	New	United Parcel Service	$1,442,000	–	12,970	–	1.06%	–
GE	New	General Electric	$1,356,000	–	198,525	–	1.00%	–
UN	New	Unilever N V	$698,000	–	13,102	–	0.51%	–
LLY	New	Eli Lilly & Company	$389,000	–	2,370	–	0.29%	–
AMZN	New	Amazon.com Incorporated	$386,000	–	140	–	0.28%	–
MSFT	New	Microsoft	$342,000	–	1,682	–	0.25%	–
GLD	New	SPDR Gold TR Gold	$304,000	–	1,815	–	0.22%	–
UTG	New	Reaves Utility Income Fund	$236,000	–	7,833	–	0.17%	–
F	New	Ford Motor Company	$178,000	–	29,250	–	0.13%	–
AMJ	New	JPMorgan Alerian MLP ETN	$149,000	–	11,260	–	0.11%	–
BPR	New	Brookfield Property Reit	$144,000	–	14,410	–	0.11%	–
DVN	New	Devon Energy Corp New	$134,000	–	11,800	–	0.10%	–
M	New	Macys Inc.	$98,000	–	14,200	–	0.07%	–
IBZT	New	IBIZ Technology	$0	–	10,000	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-10,000	–	0.00%	–
GRPN	Exit	Groupon Inc.	$0	–	-23,800	–	-0.04%	–
JCPNQ	Exit	JC Penney	$0	–	-80,000	–	-0.05%	–
BX	Exit	Blackstone Group	$0	–	-4,500	–	-0.15%	–
AMZN	Exit	Amazon.com Incorporated	$0	–	-135	–	-0.16%	–
MSFT	Exit	Microsoft	$0	–	-1,702	–	-0.16%	–
M	Exit	Macys Inc.	$0	–	-15,400	–	-0.16%	–
IGT	Exit	International Game Tech	$0	–	-17,480	–	-0.17%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-1,815	–	-0.17%	–
UTG	Exit	Reaves Utility Income Fund	$0	–	-7,168	–	-0.18%	–
LLY	Exit	Eli Lilly & Company	$0	–	-2,370	–	-0.18%	–
AMJ	Exit	JPMorgan Alerian MLP ETN	$0	–	-11,430	–	-0.18%	–
DVN	Exit	Devon Energy Corp New	$0	–	-11,800	–	-0.19%	–
BPR	Exit	Brookfield Property Reit	$0	–	-14,165	–	-0.20%	–
ABBV	Exit	Abbvie Incorporated	$0	–	-4,625	–	-0.24%	–
F	Exit	Ford Motor Company	$0	–	-41,500	–	-0.26%	–
UPS	Exit	United Parcel Service	$0	–	-13,170	–	-1.07%	–
HAL	Exit	Halliburton Company	$0	–	-93,272	–	-1.19%	–
GE	Exit	General Electric	$0	–	-200,550	–	-1.21%	–
VGK	Exit	Vanguard FTSE Europe ETF	$0	–	-38,880	–	-1.41%	–
FLEX	Exit	Flextronics International	$0	–	-206,416	–	-1.46%	–
UN	Exit	Unilever N V	$0	–	-36,020	–	-1.46%	–
SCHW	Exit	Schwab Charles Corporation	$0	–	-54,700	–	-1.55%	–
LM	Exit	Legg Mason Inc.	$0	–	-62,185	–	-1.61%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-22,518	–	-1.79%	–
JNJ	Exit	Johnson & Johnson	$0	–	-21,299	–	-1.86%	–
PLD	Exit	Prologis SBI	$0	–	-33,832	–	-1.95%	–
SLB	Exit	Schlumberger Ltd	$0	–	-86,962	–	-2.01%	–
WMB	Exit	Williams Companies	$0	–	-127,485	–	-2.08%	–
LNG	Exit	Cheniere Energy Incorporated	$0	–	-49,650	–	-2.12%	–
SBUX	Exit	Starbucks Corporation	$0	–	-36,027	–	-2.16%	–
WWD	Exit	Woodward Incorporated	$0	–	-29,935	–	-2.18%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-16,887	–	-2.38%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-25,684	–	-2.38%	–
HXL	Exit	Hexcel Corporation	$0	–	-43,170	–	-2.40%	–
PFE	Exit	Pfizer	$0	–	-98,950	–	-2.40%	–
HYG	Exit	iShares TR High Yield ETF	$0	–	-41,463	–	-2.44%	–
GOOGL	Exit	Alphabet Inc Cap Cl A.	$0	–	-2,960	–	-2.44%	–
DIS	Exit	Walt Disney Company	$0	–	-28,095	–	-2.48%	–
BAC	Exit	Bank Of America	$0	–	-127,373	–	-2.51%	–
COST	Exit	Costco Wholesale	$0	–	-12,983	–	-2.53%	–
IEMG	Exit	IShares Core MSCI Emerging	$0	–	-77,030	–	-2.56%	–
BLK	Exit	Blackrock Inc	$0	–	-8,517	–	-2.57%	–
STOR	Exit	Store Capital Corporation	$0	–	-102,532	–	-2.60%	–
MTG	Exit	MGIC Investments	$0	–	-326,904	–	-2.78%	–
URI	Exit	United Rentals Incorporated	$0	–	-33,206	–	-2.80%	–
KMI	Exit	Kinder Morgan Incorporated	$0	–	-217,800	–	-3.04%	–
NXRT	Exit	Nexpoint Residential Trust	$0	–	-96,759	–	-3.06%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-15,804	–	-3.12%	–
ABT	Exit	Abbott Laboratories	$0	–	-55,121	–	-3.12%	–
VZ	Exit	Verizon Communications	$0	–	-79,228	–	-3.24%	–
BAM	Exit	Brookfield Asset Management	$0	–	-90,810	–	-3.26%	–
KMX	Exit	CarMax Inc.	$0	–	-54,850	–	-3.27%	–
AL	Exit	Air Lease Corporation	$0	–	-132,421	–	-3.75%	–
AAPL	Exit	Apple Inc	$0	–	-29,947	–	-4.54%	–
UTX	Exit	United Technologies	$0	–	-51,347	–	-4.74%	–

Q3 2019

			Value		Shares		↓ Weighting
UTX	Buy	United Technologies	$7,010,000	+6.3%	51,347	+1.4%	4.74%	+4.9%
AAPL	Sell	Apple Inc	$6,707,000	+11.5%	29,947	-1.5%	4.54%	+10.0%
AL	Buy	Air Lease Corporation	$5,538,000	+1.4%	132,421	+0.2%	3.75%	-0.0%
KMX	Sell	CarMax Inc.	$4,827,000	+0.1%	54,850	-1.3%	3.27%	-1.3%
BAM	Sell	Brookfield Asset Management	$4,821,000	+10.2%	90,810	-0.8%	3.26%	+8.7%
VZ	Sell	Verizon Communications	$4,782,000	+5.4%	79,228	-0.3%	3.24%	+3.9%
ABT	Sell	Abbott Laboratories	$4,612,000	-2.8%	55,121	-2.3%	3.12%	-4.1%
TMO	Sell	Thermo Fisher Scientific Inc.	$4,603,000	-2.0%	15,804	-1.2%	3.12%	-3.4%
NXRT	Sell	Nexpoint Residential Trust	$4,524,000	+11.3%	96,759	-1.4%	3.06%	+9.8%
KMI	Buy	Kinder Morgan Incorporated	$4,489,000	+5.3%	217,800	+6.6%	3.04%	+3.8%
URI	Buy	United Rentals Incorporated	$4,139,000	-5.7%	33,206	+0.3%	2.80%	-7.0%
MTG	Buy	MGIC Investments	$4,112,000	-2.3%	326,904	+2.0%	2.78%	-3.7%
STOR	Buy	Store Capital Corporation	$3,836,000	+14.4%	102,532	+1.5%	2.60%	+12.9%
BLK	Buy	Blackrock Inc	$3,796,000	-4.7%	8,517	+0.4%	2.57%	-6.0%
IEMG	Sell	IShares Core MSCI Emerging	$3,776,000	-5.0%	77,030	-0.3%	2.56%	-6.3%
COST	Sell	Costco Wholesale	$3,740,000	+7.5%	12,983	-1.4%	2.53%	+6.0%
BAC	Buy	Bank Of America	$3,715,000	+0.8%	127,373	+0.2%	2.51%	-0.6%
DIS	Buy	Walt Disney Company	$3,661,000	-3.7%	28,095	+3.2%	2.48%	-5.1%
GOOGL	Buy	Alphabet Inc Cap Cl A.	$3,614,000	+12.9%	2,960	+0.1%	2.44%	+11.4%
HYG	Sell	iShares TR High Yield ETF	$3,614,000	-0.9%	41,463	-0.9%	2.44%	-2.3%
PFE	Buy	Pfizer	$3,555,000	-12.7%	98,950	+5.2%	2.40%	-13.9%
HXL	Sell	Hexcel Corporation	$3,546,000	-0.8%	43,170	-2.3%	2.40%	-2.2%
SNPS	Sell	Synopsys Incorporated	$3,525,000	+5.5%	25,684	-1.1%	2.38%	+4.0%
BRKB	New	Berkshire Hathaway	$3,513,000	–	16,887	–	2.38%	–
WWD	Sell	Woodward Incorporated	$3,228,000	-6.1%	29,935	-1.4%	2.18%	-7.3%
SBUX	Sell	Starbucks Corporation	$3,186,000	-18.7%	36,027	-23.0%	2.16%	-19.8%
LNG	Buy	Cheniere Energy Incorporated	$3,131,000	-7.5%	49,650	+0.4%	2.12%	-8.7%
WMB	New	Williams Companies	$3,067,000	–	127,485	–	2.08%	–
SLB	Buy	Schlumberger Ltd	$2,972,000	+43.8%	86,962	+67.2%	2.01%	+41.8%
PLD	Sell	Prologis SBI	$2,883,000	-29.4%	33,832	-33.6%	1.95%	-30.3%
JNJ	Buy	Johnson & Johnson	$2,756,000	-6.5%	21,299	+0.6%	1.86%	-7.8%
JPM	Sell	J.P. Morgan Chase & Company	$2,650,000	+4.5%	22,518	-0.7%	1.79%	+3.0%
LM	Sell	Legg Mason Inc.	$2,375,000	-44.9%	62,185	-44.7%	1.61%	-45.6%
SCHW	Buy	Schwab Charles Corporation	$2,288,000	+4.2%	54,700	+0.2%	1.55%	+2.8%
UN	Sell	Unilever N V	$2,162,000	-1.4%	36,020	-0.2%	1.46%	-2.7%
FLEX	Buy	Flextronics International	$2,160,000	+11.0%	206,416	+1.5%	1.46%	+9.5%
VGK	Buy	Vanguard FTSE Europe ETF	$2,084,000	-1.8%	38,880	+0.5%	1.41%	-3.2%
GE	Buy	General Electric	$1,793,000	-10.8%	200,550	+4.8%	1.21%	-12.0%
HAL	Buy	Halliburton Company	$1,758,000	-9.3%	93,272	+9.4%	1.19%	-10.5%
UPS	Sell	United Parcel Service	$1,578,000	+11.8%	13,170	-3.6%	1.07%	+10.3%
F	New	Ford Motor Company	$380,000	–	41,500	–	0.26%	–
ABBV	New	Abbvie Incorporated	$350,000	–	4,625	–	0.24%	–
BPR	Buy	Brookfield Property Reit	$289,000	+17.5%	14,165	+8.8%	0.20%	+16.0%
DVN	New	Devon Energy Corp New	$284,000	–	11,800	–	0.19%	–
AMJ	Buy	JPMorgan Alerian MLP ETN	$266,000	+1.9%	11,430	+9.9%	0.18%	+0.6%
LLY	Sell	Eli Lilly & Company	$265,000	-4.0%	2,370	-5.0%	0.18%	-5.3%
UTG	Sell	Reaves Utility Income Fund	$263,000	-13.5%	7,168	-15.6%	0.18%	-14.8%
GLD	Sell	SPDR Gold TR Gold	$252,000	-1.2%	1,815	-5.2%	0.17%	-2.3%
M	New	Macys Inc.	$239,000	–	15,400	–	0.16%	–
MSFT	Sell	Microsoft	$237,000	0.0%	1,702	-3.7%	0.16%	-1.8%
BX	New	Blackstone Group	$220,000	–	4,500	–	0.15%	–
JCPNQ	New	JC Penney	$71,000	–	80,000	–	0.05%	–
GRPN	New	Groupon Inc.	$63,000	–	23,800	–	0.04%	–
BX	Exit	Blackstone Group	$0	–	-5,500	–	-0.17%	–
INTC	Exit	Intel Corporation	$0	–	-97,616	–	-3.21%	–

Q2 2019

			Value		Shares		↓ Weighting
UTX	New	United Technologies	$6,593,000	–	50,637	–	4.52%	–
AAPL	New	Apple Inc	$6,015,000	–	30,392	–	4.13%	–
AL	New	Air Lease Corporation	$5,464,000	–	132,176	–	3.75%	–
KMX	New	CarMax Inc.	$4,823,000	–	55,545	–	3.31%	–
ABT	New	Abbott Laboratories	$4,745,000	–	56,426	–	3.26%	–
TMO	New	Thermo Fisher Scientific Inc.	$4,699,000	–	16,001	–	3.22%	–
INTC	New	Intel Corporation	$4,673,000	–	97,616	–	3.21%	–
VZ	New	Verizon Communications	$4,539,000	–	79,446	–	3.11%	–
URI	New	United Rentals Incorporated	$4,391,000	–	33,109	–	3.01%	–
BAM	New	Brookfield Asset Management	$4,373,000	–	91,525	–	3.00%	–
LM	New	Legg Mason Inc.	$4,307,000	–	112,524	–	2.96%	–
KMI	New	Kinder Morgan Incorporated	$4,265,000	–	204,265	–	2.93%	–
MTG	New	MGIC Investments	$4,210,000	–	320,378	–	2.89%	–
PLD	New	Prologis SBI	$4,082,000	–	50,965	–	2.80%	–
PFE	New	Pfizer	$4,073,000	–	94,016	–	2.79%	–
NXRT	New	Nexpoint Residential Trust	$4,063,000	–	98,149	–	2.79%	–
BLK	New	Blackrock Inc	$3,982,000	–	8,486	–	2.73%	–
IEMG	New	IShares Core MSCI Emerging	$3,973,000	–	77,245	–	2.73%	–
SBUX	New	Starbucks Corporation	$3,920,000	–	46,760	–	2.69%	–
DIS	New	Walt Disney Company	$3,803,000	–	27,236	–	2.61%	–
BAC	New	Bank Of America	$3,687,000	–	127,128	–	2.53%	–
HYG	New	iShares TR High Yield ETF	$3,647,000	–	41,836	–	2.50%	–
HXL	New	Hexcel Corporation	$3,575,000	–	44,200	–	2.45%	–
COST	New	Costco Wholesale	$3,480,000	–	13,168	–	2.39%	–
WWD	New	Woodward Incorporated	$3,436,000	–	30,360	–	2.36%	–
LNG	New	Cheniere Energy Incorporated	$3,385,000	–	49,450	–	2.32%	–
STOR	New	Store Capital Corporation	$3,352,000	–	100,995	–	2.30%	–
SNPS	New	Synopsys Incorporated	$3,342,000	–	25,966	–	2.29%	–
GOOGL	New	Alphabet Inc Cap Cl A.	$3,200,000	–	2,956	–	2.20%	–
JNJ	New	Johnson & Johnson	$2,949,000	–	21,176	–	2.02%	–
JPM	New	J.P. Morgan Chase & Company	$2,536,000	–	22,680	–	1.74%	–
SCHW	New	Schwab Charles Corporation	$2,195,000	–	54,615	–	1.51%	–
UN	New	Unilever N V	$2,193,000	–	36,110	–	1.50%	–
VGK	New	Vanguard FTSE Europe ETF	$2,123,000	–	38,675	–	1.46%	–
SLB	New	Schlumberger Ltd	$2,067,000	–	52,018	–	1.42%	–
GE	New	General Electric	$2,009,000	–	191,340	–	1.38%	–
FLEX	New	Flextronics International	$1,946,000	–	203,346	–	1.34%	–
HAL	New	Halliburton Company	$1,938,000	–	85,227	–	1.33%	–
UPS	New	United Parcel Service	$1,411,000	–	13,665	–	0.97%	–
UTG	New	Reaves Utility Income Fund	$304,000	–	8,493	–	0.21%	–
LLY	New	Eli Lilly & Company	$276,000	–	2,495	–	0.19%	–
AMJ	New	JPMorgan Alerian MLP ETN	$261,000	–	10,405	–	0.18%	–
AMZN	New	Amazon.com Incorporated	$256,000	–	135	–	0.18%	–
GLD	New	SPDR Gold TR Gold	$255,000	–	1,915	–	0.18%	–
BPR	New	Brookfield Property Reit	$246,000	–	13,015	–	0.17%	–
BX	New	Blackstone Group	$244,000	–	5,500	–	0.17%	–
MSFT	New	Microsoft	$237,000	–	1,767	–	0.16%	–
IGT	New	International Game Tech	$227,000	–	17,480	–	0.16%	–
IBZT	New	IBIZ Technology	$0	–	10,000	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-10,000	–	0.00%	–
RIGL	Exit	Rigel Pharmaceutical Inc.	$0	–	-17,900	–	-0.04%	–
BX	Exit	Blackstone Group	$0	–	-5,500	–	-0.15%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-1,915	–	-0.16%	–
UTG	Exit	Reaves Utility Income Fund	$0	–	-8,560	–	-0.19%	–
AMZN	Exit	Amazon.com Incorporated	$0	–	-135	–	-0.20%	–
LLY	Exit	Eli Lilly & Company	$0	–	-2,565	–	-0.20%	–
SPLV	Exit	Invesco S&P 500 Low Volatility	$0	–	-7,770	–	-0.28%	–
IGT	Exit	International Game Tech	$0	–	-31,190	–	-0.45%	–
UPS	Exit	United Parcel Service	$0	–	-14,040	–	-1.19%	–
UN	Exit	Unilever N V	$0	–	-33,795	–	-1.36%	–
VGK	Exit	Vanguard FTSE Europe ETF	$0	–	-36,165	–	-1.47%	–
DLR	Exit	Digital Realty Trust	$0	–	-20,375	–	-1.66%	–
GE	Exit	General Electric	$0	–	-205,458	–	-1.68%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-23,721	–	-1.70%	–
WWD	Exit	Woodward Incorporated	$0	–	-29,035	–	-1.70%	–
FLEX	Exit	Flextronics International	$0	–	-181,636	–	-1.73%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-21,240	–	-1.74%	–
SBUX	Exit	Starbucks Corporation	$0	–	-44,355	–	-1.83%	–
MET	Exit	Metlife, Incorporated	$0	–	-55,611	–	-1.88%	–
KMX	Exit	CarMax Inc.	$0	–	-35,166	–	-1.90%	–
STOR	Exit	Store Capital Corp.	$0	–	-95,170	–	-1.92%	–
COST	Exit	Costco Wholesale	$0	–	-12,002	–	-2.04%	–
JNJ	Exit	Johnson & Johnson	$0	–	-20,599	–	-2.06%	–
HXL	Exit	Hexcel Corporation	$0	–	-43,130	–	-2.10%	–
SLB	Exit	Schlumberger Ltd	$0	–	-47,839	–	-2.11%	–
GOOGL	Exit	Alphabet Inc Cap Cl A.	$0	–	-2,513	–	-2.20%	–
URI	Exit	United Rentals Incorporated	$0	–	-18,600	–	-2.21%	–
LM	Exit	Legg Mason Inc.	$0	–	-103,904	–	-2.35%	–
PLD	Exit	Prologis SBI	$0	–	-49,676	–	-2.44%	–
KMI	Exit	Kinder Morgan Incorporated	$0	–	-193,892	–	-2.49%	–
HYG	Exit	iShares TR High Yield ETF	$0	–	-40,130	–	-2.52%	–
NXRT	Exit	Nexpoint Residential Trust	$0	–	-105,930	–	-2.55%	–
CHSP	Exit	Chesapeake Lodging Trust	$0	–	-110,654	–	-2.57%	–
BAC	Exit	Bank Of America	$0	–	-120,727	–	-2.58%	–
LKQ	Exit	LKQ Corp	$0	–	-113,155	–	-2.60%	–
HAL	Exit	Halliburton Company	$0	–	-88,615	–	-2.60%	–
IEMG	Exit	IShares Core MSCI Emerging	$0	–	-72,890	–	-2.74%	–
BAM	Exit	Brookfield Asset Management Cl	$0	–	-85,460	–	-2.76%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-15,753	–	-2.79%	–
ABT	Exit	Abbott Laboratories	$0	–	-54,799	–	-2.91%	–
AL	Exit	Air Lease Corporation	$0	–	-88,946	–	-2.96%	–
PFE	Exit	Pfizer	$0	–	-93,274	–	-2.98%	–
VZ	Exit	Verizon Communications	$0	–	-77,092	–	-2.98%	–
MTG	Exit	MGIC Investments	$0	–	-313,098	–	-3.02%	–
ALLY	Exit	Ally Financial, Incorporated	$0	–	-159,784	–	-3.06%	–
INTC	Exit	Intel Corporation	$0	–	-94,016	–	-3.22%	–
AGN	Exit	Allergan	$0	–	-24,688	–	-3.41%	–
UTX	Exit	United Technologies	$0	–	-36,355	–	-3.68%	–
AAPL	Exit	Apple Inc	$0	–	-28,312	–	-4.63%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Inc	$6,391,000	+20.2%	28,312	-1.5%	4.63%	+13.6%
UTX	Sell	United Technologies	$5,083,000	+11.4%	36,355	-0.4%	3.68%	+5.3%
AGN	Sell	Allergan	$4,703,000	+13.8%	24,688	-0.4%	3.41%	+7.5%
INTC	Buy	Intel Corporation	$4,446,000	-4.9%	94,016	+0.0%	3.22%	-10.1%
ALLY	Sell	Ally Financial, Incorporated	$4,226,000	-0.6%	159,784	-1.3%	3.06%	-6.1%
MTG	Sell	MGIC Investments	$4,167,000	+21.6%	313,098	-2.1%	3.02%	+14.9%
VZ	Sell	Verizon Communications	$4,116,000	+3.9%	77,092	-2.1%	2.98%	-1.8%
PFE	Sell	Pfizer	$4,111,000	+19.7%	93,274	-1.5%	2.98%	+13.1%
AL	Sell	Air Lease Corporation	$4,081,000	+8.2%	88,946	-1.0%	2.96%	+2.2%
ABT	Sell	Abbott Laboratories	$4,020,000	+19.7%	54,799	-0.5%	2.91%	+13.1%
TMO	Sell	Thermo Fisher Scientific Inc.	$3,845,000	+16.6%	15,753	-1.1%	2.79%	+10.1%
BAM	Buy	Brookfield Asset Management Cl	$3,806,000	+70.4%	85,460	+55.1%	2.76%	+61.0%
IEMG	Buy	IShares Core MSCI Emerging	$3,774,000	+38.6%	72,890	+40.6%	2.74%	+31.0%
HAL	Buy	Halliburton Company	$3,592,000	-9.8%	88,615	+0.3%	2.60%	-14.7%
LKQ	Sell	LKQ Corp	$3,584,000	-1.2%	113,155	-0.5%	2.60%	-6.6%
BAC	Sell	Bank Of America	$3,557,000	+2.9%	120,727	-1.6%	2.58%	-2.8%
CHSP	Sell	Chesapeake Lodging Trust	$3,549,000	-0.4%	110,654	-1.7%	2.57%	-5.9%
NXRT	Sell	Nexpoint Residential Trust	$3,517,000	+0.8%	105,930	-13.7%	2.55%	-4.8%
HYG	Sell	iShares TR High Yield ETF	$3,469,000	+1.0%	40,130	-0.6%	2.52%	-4.5%
KMI	Sell	Kinder Morgan Incorporated	$3,438,000	+0.0%	193,892	-0.3%	2.49%	-5.5%
PLD	Sell	Prologis SBI	$3,368,000	+3.2%	49,676	-0.0%	2.44%	-2.5%
LM	Sell	Legg Mason Inc.	$3,245,000	-10.3%	103,904	-0.2%	2.35%	-15.2%
URI	Buy	United Rentals Incorporated	$3,043,000	+15.1%	18,600	+3.9%	2.21%	+8.8%
GOOGL	Sell	Alphabet Inc Cap Cl A.	$3,033,000	+6.0%	2,513	-0.9%	2.20%	+0.1%
SLB	Sell	Schlumberger Ltd	$2,914,000	-10.0%	47,839	-1.0%	2.11%	-15.0%
HXL	Sell	Hexcel Corporation	$2,892,000	+0.6%	43,130	-0.5%	2.10%	-5.0%
JNJ	Sell	Johnson & Johnson	$2,846,000	+13.0%	20,599	-0.8%	2.06%	+6.7%
COST	Sell	Costco Wholesale	$2,819,000	+11.3%	12,002	-0.9%	2.04%	+5.2%
STOR	Sell	Store Capital Corp.	$2,645,000	+0.6%	95,170	-0.8%	1.92%	-5.0%
KMX	Sell	CarMax Inc.	$2,626,000	+1.9%	35,166	-0.6%	1.90%	-3.7%
MET	Sell	Metlife, Incorporated	$2,598,000	-27.9%	55,611	-32.8%	1.88%	-31.9%
SBUX	Sell	Starbucks Corporation	$2,521,000	+15.7%	44,355	-0.6%	1.83%	+9.3%
JPM	Sell	J.P. Morgan Chase & Company	$2,397,000	+7.4%	21,240	-0.8%	1.74%	+1.5%
FLEX	Buy	Flextronics International	$2,383,000	-6.9%	181,636	+0.1%	1.73%	-12.0%
WWD	Sell	Woodward Incorporated	$2,348,000	+4.6%	29,035	-0.5%	1.70%	-1.2%
SNPS	Sell	Synopsys Incorporated	$2,339,000	+14.2%	23,721	-0.9%	1.70%	+8.0%
GE	Sell	General Electric	$2,320,000	-17.3%	205,458	-0.3%	1.68%	-21.8%
DLR	Buy	Digital Realty Trust	$2,292,000	+0.9%	20,375	+0.1%	1.66%	-4.6%
VGK	Buy	Vanguard FTSE Europe ETF	$2,033,000	+0.2%	36,165	+0.0%	1.47%	-5.3%
UN	Sell	Unilever N V	$1,877,000	-0.4%	33,795	-0.1%	1.36%	-5.9%
UTG	Sell	Reaves Utility Income Fund	$262,000	+3.6%	8,560	-2.3%	0.19%	-2.1%
GLD	Sell	SPDR Gold TR Gold	$216,000	-12.2%	1,915	-7.7%	0.16%	-16.9%
BX	New	Blackstone Group	$209,000	–	5,500	–	0.15%	–
RIGL	Sell	Rigel Pharmaceutical Inc.	$57,000	+7.5%	17,900	-3.6%	0.04%	0.0%

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$5,318,000	–	28,731	–	4.08%	–
INTC	New	Intel Corporation	$4,673,000	–	94,006	–	3.58%	–
UTX	New	United Technologies	$4,562,000	–	36,490	–	3.50%	–
ALLY	New	Ally Financial, Incorporated	$4,251,000	–	161,824	–	3.26%	–
AGN	New	Allergan	$4,133,000	–	24,793	–	3.17%	–
HAL	New	Halliburton Company	$3,981,000	–	88,350	–	3.05%	–
VZ	New	Verizon Communications	$3,960,000	–	78,707	–	3.04%	–
AL	New	Air Lease Corporation	$3,773,000	–	89,886	–	2.90%	–
LKQ	New	LKQ Corp	$3,626,000	–	113,670	–	2.78%	–
LM	New	Legg Mason Inc.	$3,616,000	–	104,129	–	2.77%	–
MET	New	Metlife, Incorporated	$3,605,000	–	82,693	–	2.77%	–
CHSP	New	Chesapeake Lodging Trust	$3,562,000	–	112,584	–	2.73%	–
NXRT	New	Nexpoint Residential Trust	$3,490,000	–	122,685	–	2.68%	–
BAC	New	Bank Of America	$3,458,000	–	122,657	–	2.65%	–
KMI	New	Kinder Morgan Incorporated	$3,437,000	–	194,492	–	2.64%	–
PFE	New	Pfizer	$3,434,000	–	94,653	–	2.64%	–
HYG	New	iShares TR High Yield ETF	$3,433,000	–	40,355	–	2.63%	–
MTG	New	MGIC Investments	$3,427,000	–	319,718	–	2.63%	–
ABT	New	Abbott Laboratories	$3,359,000	–	55,069	–	2.58%	–
TMO	New	Thermo Fisher Scientific Inc.	$3,299,000	–	15,928	–	2.53%	–
PLD	New	Prologis SBI	$3,265,000	–	49,700	–	2.50%	–
SLB	New	Schlumberger Ltd	$3,239,000	–	48,319	–	2.48%	–
HXL	New	Hexcel Corporation	$2,876,000	–	43,325	–	2.21%	–
GOOGL	New	Alphabet Inc Cap Cl A.	$2,862,000	–	2,535	–	2.20%	–
GE	New	General Electric	$2,805,000	–	206,108	–	2.15%	–
IEMG	New	IShares Core MSCI Emerging	$2,722,000	–	51,845	–	2.09%	–
URI	New	United Rentals Incorporated	$2,643,000	–	17,907	–	2.03%	–
STOR	New	Store Capital Corp.	$2,629,000	–	95,955	–	2.02%	–
KMX	New	CarMax Inc.	$2,578,000	–	35,376	–	1.98%	–
FLEX	New	Flextronics International	$2,560,000	–	181,436	–	1.96%	–
COST	New	Costco Wholesale	$2,532,000	–	12,117	–	1.94%	–
JNJ	New	Johnson & Johnson	$2,519,000	–	20,759	–	1.93%	–
DLR	New	Digital Realty Trust	$2,271,000	–	20,355	–	1.74%	–
WWD	New	Woodward Incorporated	$2,244,000	–	29,190	–	1.72%	–
BAM	New	Brookfield Asset Management Cl	$2,234,000	–	55,110	–	1.71%	–
JPM	New	J.P. Morgan Chase & Company	$2,232,000	–	21,420	–	1.71%	–
SBUX	New	Starbucks Corporation	$2,179,000	–	44,610	–	1.67%	–
SNPS	New	Synopsys Incorporated	$2,048,000	–	23,931	–	1.57%	–
VGK	New	Vanguard FTSE Europe ETF	$2,029,000	–	36,150	–	1.56%	–
UN	New	Unilever N V	$1,885,000	–	33,830	–	1.45%	–
UPS	New	United Parcel Service	$1,491,000	–	14,040	–	1.14%	–
IGT	New	International Game Tech	$725,000	–	31,190	–	0.56%	–
SPLV	New	Invesco S&P 500 Low Volatility	$368,000	–	7,770	–	0.28%	–
UTG	New	Reaves Utility Income Fund	$253,000	–	8,765	–	0.19%	–
GLD	New	SPDR Gold TR Gold	$246,000	–	2,075	–	0.19%	–
AMZN	New	Amazon.com Incorporated	$229,000	–	135	–	0.18%	–
LLY	New	Eli Lilly & Company	$219,000	–	2,565	–	0.17%	–
RIGL	New	Rigel Pharmaceutical Inc.	$53,000	–	18,570	–	0.04%	–
IBZT	New	IBIZ Technology	$0	–	10,000	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-22,500	–	0.00%	–
	Exit	Reaves Util Income Rights Exp	$0	–	-82,731	–	-0.02%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-2,075	–	-0.19%	–
LLY	Exit	Eli Lilly & Company	$0	–	-3,108	–	-0.20%	–
SPLV	Exit	Powershares EFT S&P500	$0	–	-7,810	–	-0.26%	–
IGT	Exit	International Game Tech	$0	–	-25,178	–	-0.46%	–
UPS	Exit	United Parcel Service	$0	–	-17,000	–	-1.51%	–
COST	Exit	Costco Wholesale	$0	–	-12,622	–	-1.53%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-21,981	–	-1.55%	–
VGK	Exit	Vanguard FTSE Europe ETF	$0	–	-36,245	–	-1.56%	–
HOLX	Exit	Hologic Incorporated	$0	–	-60,334	–	-1.64%	–
BAM	Exit	Brookfield Asset Management Cl	$0	–	-55,350	–	-1.69%	–
AINV	Exit	Apollo Investment Corporation	$0	–	-376,529	–	-1.70%	–
BMO	Exit	Bank of Montreal	$0	–	-31,085	–	-1.74%	–
STOR	Exit	Store Capital Corp.	$0	–	-94,815	–	-1.74%	–
URI	Exit	United Rentals Incorporated	$0	–	-18,087	–	-1.86%	–
GOOGL	Exit	Alphabet Inc Cap Cl A.	$0	–	-2,587	–	-1.86%	–
DLR	Exit	Digital Realty Trust	$0	–	-21,285	–	-1.86%	–
KMI	Exit	Kinder Morgan Incorporated	$0	–	-132,262	–	-1.88%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-34,751	–	-2.07%	–
PFN	Exit	Pimco Income Strategy Fund II	$0	–	-269,564	–	-2.13%	–
HPT	Exit	Hospitality Property Trust	$0	–	-102,048	–	-2.15%	–
UTG	Exit	Reaves Utility Income Fund	$0	–	-92,763	–	-2.18%	–
GE	Exit	General Electric	$0	–	-123,059	–	-2.20%	–
FLEX	Exit	Flextronics International	$0	–	-180,354	–	-2.21%	–
LM	Exit	Legg Mason Inc.	$0	–	-77,870	–	-2.26%	–
MET	Exit	Metlife, Incorporated	$0	–	-58,995	–	-2.27%	–
PLD	Exit	Prologis SBI	$0	–	-49,358	–	-2.32%	–
BAC	Exit	Bank Of America	$0	–	-125,507	–	-2.35%	–
FB	Exit	Facebook, Incorpoated CL A	$0	–	-19,154	–	-2.42%	–
JNJ	Exit	Johnson & Johnson	$0	–	-25,561	–	-2.46%	–
PFE	Exit	Pfizer	$0	–	-95,615	–	-2.52%	–
HXL	Exit	Hexcel Corporation	$0	–	-59,959	–	-2.55%	–
SLB	Exit	Schlumberger Ltd	$0	–	-49,341	–	-2.55%	–
UN	Exit	Unilever N V	$0	–	-58,633	–	-2.56%	–
NXRT	Exit	Nexpoint Residential Trust	$0	–	-147,132	–	-2.58%	–
VZ	Exit	Verizon Communications	$0	–	-72,271	–	-2.64%	–
UTX	Exit	United Technologies	$0	–	-31,697	–	-2.72%	–
AGN	Exit	Alergan	$0	–	-18,151	–	-2.75%	–
HYG	Exit	iShares TR High Yield ETF	$0	–	-42,862	–	-2.81%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-20,543	–	-2.88%	–
ABT	Exit	Abbott Laboratories	$0	–	-74,443	–	-2.94%	–
CHSP	Exit	Chesapeake Lodging Tust	$0	–	-147,524	–	-2.94%	–
ALLY	Exit	Ally Financial, Incorporated	$0	–	-165,494	–	-2.97%	–
MRK	Exit	Merck & Company	$0	–	-62,856	–	-2.98%	–
AL	Exit	Air Lease Corporation	$0	–	-113,248	–	-3.57%	–
MTG	Exit	MGIC Investments	$0	–	-395,275	–	-3.66%	–
AAPL	Exit	Apple Inc	$0	–	-36,019	–	-4.10%	–

Q3 2017

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Inc	$5,551,000	+7.6%	36,019	+0.6%	4.10%	+0.7%
MTG	Sell	MGIC Investments	$4,953,000	+11.5%	395,275	-0.4%	3.66%	+4.3%
AL	Buy	Air Lease Corporation	$4,827,000	+15.2%	113,248	+1.0%	3.57%	+7.8%
MRK	Buy	Merck & Company	$4,025,000	+0.4%	62,856	+0.5%	2.98%	-6.1%
ALLY	Sell	Ally Financial, Incorporated	$4,015,000	+16.0%	165,494	-0.0%	2.97%	+8.6%
CHSP	Buy	Chesapeake Lodging Tust	$3,979,000	+12.1%	147,524	+1.7%	2.94%	+4.9%
ABT	Buy	Abbott Laboratories	$3,972,000	+10.5%	74,443	+0.6%	2.94%	+3.3%
TMO	Buy	Thermo Fisher Scientific Inc.	$3,887,000	+9.8%	20,543	+1.2%	2.88%	+2.7%
HYG	Buy	iShares TR High Yield ETF	$3,804,000	+0.5%	42,862	+0.1%	2.81%	-6.0%
AGN	Buy	Alergan	$3,720,000	-14.4%	18,151	+1.5%	2.75%	-19.9%
UTX	Buy	United Technologies	$3,679,000	-3.7%	31,697	+1.3%	2.72%	-9.9%
VZ	Sell	Verizon Communications	$3,577,000	+10.2%	72,271	-0.5%	2.64%	+3.1%
NXRT	Buy	Nexpoint Residential Trust	$3,491,000	-4.2%	147,132	+0.5%	2.58%	-10.3%
UN	Buy	Unilever N V	$3,462,000	+7.1%	58,633	+0.2%	2.56%	+0.2%
HXL	Sell	Hexcel Corporation	$3,443,000	+7.8%	59,959	-0.9%	2.55%	+0.9%
SLB	Buy	Schlumberger Ltd	$3,442,000	+9.2%	49,341	+3.0%	2.55%	+2.2%
PFE	Buy	Pfizer	$3,413,000	+7.7%	95,615	+1.3%	2.52%	+0.8%
JNJ	Sell	Johnson & Johnson	$3,323,000	-2.6%	25,561	-0.9%	2.46%	-8.8%
FB	Sell	Facebook, Incorpoated CL A	$3,273,000	+12.5%	19,154	-0.6%	2.42%	+5.3%
BAC	Buy	Bank Of America	$3,180,000	+4.7%	125,507	+0.2%	2.35%	-2.0%
PLD	Sell	Prologis SBI	$3,132,000	+6.7%	49,358	-1.3%	2.32%	-0.1%
MET	Sell	Metlife, Incorporated	$3,065,000	-6.6%	58,995	-1.2%	2.27%	-12.5%
LM	Sell	Legg Mason Inc.	$3,061,000	+3.0%	77,870	-0.0%	2.26%	-3.6%
FLEX	Buy	Flextronics International	$2,988,000	+2.9%	180,354	+1.2%	2.21%	-3.7%
GE	Buy	General Electric	$2,976,000	-9.3%	123,059	+1.3%	2.20%	-15.2%
UTG	Sell	Reaves Utility Income Fund	$2,941,000	-8.7%	92,763	-1.1%	2.18%	-14.6%
HPT	Buy	Hospitality Property Trust	$2,907,000	-2.3%	102,048	+0.0%	2.15%	-8.5%
PFN	Sell	Pimco Income Strategy Fund II	$2,884,000	+2.5%	269,564	-0.0%	2.13%	-4.1%
SNPS	Buy	Synopsys Incorporated	$2,798,000	+12.2%	34,751	+1.6%	2.07%	+5.0%
KMI	New	Kinder Morgan Incorporated	$2,537,000	–	132,262	–	1.88%	–
GOOGL	Buy	Alphabet Inc Cap Cl A.	$2,519,000	+9.0%	2,587	+4.1%	1.86%	+2.0%
DLR	New	Digital Realty Trust	$2,519,000	–	21,285	–	1.86%	–
URI	Buy	United Rentals Incorporated	$2,509,000	+24.0%	18,087	+0.7%	1.86%	+16.0%
STOR	New	Store Capital Corp.	$2,358,000	–	94,815	–	1.74%	–
BMO	Sell	Bank of Montreal	$2,353,000	+2.4%	31,085	-0.6%	1.74%	-4.2%
AINV	Buy	Apollo Investment Corporation	$2,301,000	-3.2%	376,529	+1.2%	1.70%	-9.4%
BAM	Buy	Brookfield Asset Management Cl	$2,286,000	+8.3%	55,350	+2.8%	1.69%	+1.4%
HOLX	Sell	Hologic Incorporated	$2,214,000	-19.2%	60,334	-0.1%	1.64%	-24.4%
VGK	Buy	Vanguard FTSE Europe ETF	$2,114,000	+9.7%	36,245	+3.7%	1.56%	+2.6%
JPM	Sell	J.P. Morgan Chase & Company	$2,099,000	+3.5%	21,981	-0.9%	1.55%	-3.2%
COST	Buy	Costco Wholesale	$2,074,000	+6.5%	12,622	+3.7%	1.53%	-0.3%
LLY	Buy	Eli Lilly & Company	$266,000	+17.2%	3,108	+12.9%	0.20%	+10.1%
GLD	Sell	SPDR Gold TR Gold	$252,000	-1.9%	2,075	-4.6%	0.19%	-8.4%
	New	Reaves Util Income Rights Exp	$31,000	–	82,731	–	0.02%	–
MGRCL	Exit	Affiliated Managers	$0	–	-73,365	–	-1.47%	–
HZNP	Exit	Horizon Pharma PLC	$0	–	-164,358	–	-1.54%	–

Q2 2017

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$5,159,000	–	35,819	–	4.08%	–
MTG	New	MGIC Investments	$4,444,000	–	396,770	–	3.51%	–
AGN	New	Alergan	$4,348,000	–	17,886	–	3.44%	–
AL	New	Air Lease Corporation	$4,189,000	–	112,118	–	3.31%	–
MRK	New	Merck & Company	$4,010,000	–	62,566	–	3.17%	–
UTX	New	United Technologies	$3,822,000	–	31,297	–	3.02%	–
HYG	New	iShares TR High Yield ETF	$3,786,000	–	42,832	–	2.99%	–
NXRT	New	Nexpoint Residential Trust	$3,643,000	–	146,376	–	2.88%	–
ABT	New	Abbott Laboratories	$3,596,000	–	73,968	–	2.84%	–
CHSP	New	Chesapeake Lodging Tust	$3,550,000	–	145,079	–	2.81%	–
TMO	New	Thermo Fisher Scientific Inc.	$3,541,000	–	20,295	–	2.80%	–
ALLY	New	Ally Financial, Incorporated	$3,460,000	–	165,534	–	2.74%	–
JNJ	New	Johnson & Johnson	$3,411,000	–	25,781	–	2.70%	–
GE	New	General Electric	$3,282,000	–	121,519	–	2.59%	–
MET	New	Metlife, Incorporated	$3,280,000	–	59,693	–	2.59%	–
VZ	New	Verizon Communications	$3,245,000	–	72,651	–	2.56%	–
UN	New	Unilever N V	$3,233,000	–	58,503	–	2.56%	–
UTG	New	Reaves Utility Income Fund	$3,222,000	–	93,823	–	2.55%	–
HXL	New	Hexcel Corporation	$3,193,000	–	60,484	–	2.52%	–
PFE	New	Pfizer	$3,169,000	–	94,352	–	2.50%	–
SLB	New	Schlumberger Ltd	$3,153,000	–	47,887	–	2.49%	–
BAC	New	Bank Of America	$3,038,000	–	125,232	–	2.40%	–
HPT	New	Hospitality Property Trust	$2,974,000	–	102,011	–	2.35%	–
LM	New	Legg Mason Inc.	$2,972,000	–	77,887	–	2.35%	–
PLD	New	Prologis SBI	$2,934,000	–	50,029	–	2.32%	–
FB	New	Facebook, Incorpoated CL A	$2,909,000	–	19,269	–	2.30%	–
FLEX	New	Flextronics International	$2,905,000	–	178,129	–	2.30%	–
PFN	New	Pimco Income Strategy Fund II	$2,815,000	–	269,654	–	2.22%	–
HOLX	New	Hologic Incorporated	$2,741,000	–	60,404	–	2.17%	–
SNPS	New	Synopsys Incorporated	$2,494,000	–	34,191	–	1.97%	–
AINV	New	Apollo Investment Corporation	$2,378,000	–	372,177	–	1.88%	–
GOOGL	New	Alphabet Inc Cap Cl A.	$2,310,000	–	2,485	–	1.83%	–
BMO	New	Bank of Montreal	$2,298,000	–	31,285	–	1.82%	–
BAM	New	Brookfield Asset Management Cl	$2,111,000	–	53,840	–	1.67%	–
JPM	New	J.P. Morgan Chase & Company	$2,028,000	–	22,191	–	1.60%	–
URI	New	United Rentals Incorporated	$2,024,000	–	17,962	–	1.60%	–
HZNP	New	Horizon Pharma PLC	$1,951,000	–	164,358	–	1.54%	–
COST	New	Costco Wholesale	$1,947,000	–	12,175	–	1.54%	–
VGK	New	Vanguard FTSE Europe ETF	$1,927,000	–	34,955	–	1.52%	–
UPS	New	United Parcel Service	$1,880,000	–	17,000	–	1.49%	–
MGRCL	New	Affiliated Managers	$1,863,000	–	73,365	–	1.47%	–
IGT	New	International Game Tech	$461,000	–	25,178	–	0.36%	–
SPLV	New	Powershares Exchange Traded Fu	$349,000	–	7,810	–	0.28%	–
GLD	New	SPDR Gold TR Gold	$257,000	–	2,175	–	0.20%	–
LLY	New	Eli Lilly & Company	$227,000	–	2,753	–	0.18%	–
IBZT	New	IBIZ Technology	$0	–	22,500	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-22,500	–	0.00%	–
LLY	Exit	Eli Lilly & Company	$0	–	-2,753	–	-0.20%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-2,475	–	-0.29%	–
SPLV	Exit	Powershares Exchange Traded Fu	$0	–	-8,690	–	-0.34%	–
ABT	Exit	Abbott Laboratories	$0	–	-32,167	–	-1.26%	–
VGK	Exit	Vanguard FTSE Europe ETF	$0	–	-33,230	–	-1.50%	–
FISV	Exit	Fiserv Incorporated	$0	–	-17,578	–	-1.62%	–
COST	Exit	Costco Wholesale	$0	–	-11,745	–	-1.66%	–
UPS	Exit	United Parcel Service	$0	–	-17,000	–	-1.73%	–
GOOGL	Exit	Alphabet Inc Cap Cl A.	$0	–	-2,375	–	-1.77%	–
MGRCL	Exit	Affiliated Managers	$0	–	-73,436	–	-1.79%	–
AIG	Exit	American International Group	$0	–	-32,685	–	-1.80%	–
BMO	Exit	Bank of Montreal	$0	–	-29,965	–	-1.83%	–
AINV	Exit	Apollo Investment Corporation	$0	–	-355,951	–	-1.92%	–
HOLX	Exit	Hologic Incorporated	$0	–	-56,370	–	-2.03%	–
HXL	Exit	Hexcel Corporation	$0	–	-53,485	–	-2.20%	–
FB	Exit	Facebook, Incorpoated CL A	$0	–	-18,641	–	-2.22%	–
MET	Exit	Metlife, Incorporated	$0	–	-54,021	–	-2.23%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-41,715	–	-2.30%	–
PLD	Exit	Prologis SBI	$0	–	-46,964	–	-2.34%	–
PFN	Exit	Pimco Income Strategy Fund II	$0	–	-264,210	–	-2.34%	–
UN	Exit	Unilever N V	$0	–	-56,310	–	-2.41%	–
BCR	Exit	C.R. Bard, Inc.	$0	–	-11,952	–	-2.49%	–
HZNP	Exit	Horizon Pharma PLC	$0	–	-148,955	–	-2.51%	–
CTSH	Exit	Congnizant Tech CL A	$0	–	-57,785	–	-2.56%	–
BAC	Exit	Bank Of America	$0	–	-180,381	–	-2.62%	–
NXRT	Exit	Nexpoint Residential	$0	–	-143,925	–	-2.63%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-42,948	–	-2.66%	–
JNJ	Exit	Johnson & Johnson	$0	–	-24,325	–	-2.67%	–
UTG	Exit	Reaves Utility Income Fund	$0	–	-94,145	–	-2.67%	–
MTG	Exit	MGIC Investments	$0	–	-366,890	–	-2.73%	–
PFE	Exit	Pfizer	$0	–	-88,599	–	-2.79%	–
AL	Exit	Air Lease Corporation	$0	–	-105,534	–	-2.80%	–
URI	Exit	United Rentals Incorporated	$0	–	-38,825	–	-2.83%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-19,215	–	-2.84%	–
ALLY	Exit	Ally Financial, Incorporated	$0	–	-158,540	–	-2.87%	–
FLEX	Exit	Flextronics International	$0	–	-229,667	–	-2.91%	–
CHSP	Exit	Chesapeake Lodging Tust	$0	–	-137,221	–	-2.92%	–
SLB	Exit	Schlumberger Ltd	$0	–	-45,030	–	-3.29%	–
HYG	Exit	iShares TR High Yield ETF	$0	–	-41,135	–	-3.34%	–
VZ	Exit	Verizon Communications	$0	–	-69,130	–	-3.34%	–
MRK	Exit	Merck & Company	$0	–	-58,605	–	-3.40%	–
AAPL	Exit	Apple Inc	$0	–	-33,910	–	-3.56%	–
HPT	Exit	Hospitality Property Trust	$0	–	-136,098	–	-3.76%	–

Q3 2016

			Value		Shares		↓ Weighting
HPT	Sell	Hospitality Property Trust	$4,045,000	+1.7%	136,098	-1.4%	3.76%	+2.2%
AAPL	Sell	Apple Inc	$3,834,000	+18.1%	33,910	-0.2%	3.56%	+18.6%
MRK	Sell	Merck & Company	$3,658,000	+7.2%	58,605	-1.1%	3.40%	+7.7%
VZ	Buy	Verizon Communications	$3,593,000	-6.0%	69,130	+1.0%	3.34%	-5.6%
HYG	Buy	iShares TR High Yield ETF	$3,589,000	+3.3%	41,135	+0.3%	3.34%	+3.8%
SLB	Sell	Schlumberger Ltd	$3,541,000	-2.2%	45,030	-1.6%	3.29%	-1.7%
CHSP	Buy	Chesapeake Lodging Tust	$3,142,000	-1.2%	137,221	+0.3%	2.92%	-0.7%
FLEX	Sell	Flextronics International	$3,128,000	+15.0%	229,667	-0.3%	2.91%	+15.6%
ALLY	Sell	Ally Financial, Incorporated	$3,087,000	+13.5%	158,540	-0.6%	2.87%	+14.0%
TMO	Sell	Thermo Fisher Scientific Inc.	$3,056,000	+6.4%	19,215	-1.2%	2.84%	+6.9%
URI	Sell	United Rentals Incorporated	$3,047,000	+15.3%	38,825	-1.4%	2.83%	+15.9%
AL	Sell	Air Lease Corporation	$3,016,000	+5.8%	105,534	-0.8%	2.80%	+6.3%
PFE	Sell	Pfizer	$3,001,000	-3.9%	88,599	-0.1%	2.79%	-3.4%
MTG	Sell	MGIC Investments	$2,935,000	+33.1%	366,890	-1.0%	2.73%	+33.8%
UTG	Sell	Reaves Utility Income Fund	$2,877,000	-8.1%	94,145	-2.3%	2.67%	-7.6%
JNJ	Sell	Johnson & Johnson	$2,874,000	-5.0%	24,325	-2.5%	2.67%	-4.5%
JPM	Sell	J.P. Morgan Chase & Company	$2,860,000	+5.3%	42,948	-1.7%	2.66%	+5.9%
NXRT	Sell	Nexpoint Residential	$2,830,000	+6.6%	143,925	-1.3%	2.63%	+7.1%
BAC	Buy	Bank Of America	$2,823,000	+19.3%	180,381	+1.1%	2.62%	+19.8%
CTSH	Sell	Congnizant Tech CL A	$2,757,000	-17.0%	57,785	-0.4%	2.56%	-16.6%
HZNP	Sell	Horizon Pharma PLC	$2,701,000	+9.3%	148,955	-0.7%	2.51%	+9.8%
BCR	Sell	C.R. Bard, Inc.	$2,681,000	-5.4%	11,952	-0.8%	2.49%	-4.9%
UN	Sell	Unilever N V	$2,596,000	-2.0%	56,310	-0.2%	2.41%	-1.6%
PFN	Sell	Pimco Income Strategy Fund II	$2,518,000	+3.5%	264,210	-0.1%	2.34%	+4.0%
PLD	Sell	Prologis SBI	$2,514,000	+7.8%	46,964	-1.3%	2.34%	+8.2%
SNPS	Buy	Synopsys Incorporated	$2,476,000	+10.0%	41,715	+0.2%	2.30%	+10.5%
MET	Buy	Metlife, Incorporated	$2,400,000	+12.4%	54,021	+0.7%	2.23%	+12.9%
FB	Buy	Facebook, Incorpoated CL A	$2,391,000	+12.9%	18,641	+0.6%	2.22%	+13.4%
HXL	Buy	Hexcel Corporation	$2,369,000	+8.7%	53,485	+2.2%	2.20%	+9.2%
HOLX	Sell	Hologic Incorporated	$2,189,000	+11.0%	56,370	-1.1%	2.03%	+11.5%
AINV	Sell	Apollo Investment Corporation	$2,065,000	+3.2%	355,951	-1.4%	1.92%	+3.7%
BMO	Sell	Bank of Montreal	$1,965,000	+1.3%	29,965	-2.0%	1.83%	+1.8%
AIG	Sell	American International Group	$1,940,000	+12.1%	32,685	-0.1%	1.80%	+12.7%
MGRCL	Sell	Affiliated Managers	$1,930,000	-3.9%	73,436	-2.5%	1.79%	-3.4%
GOOGL	Sell	Alphabet Inc Cap Cl A.	$1,909,000	+13.8%	2,375	-0.4%	1.77%	+14.3%
COST	Sell	Costco Wholesale	$1,791,000	-4.5%	11,745	-1.6%	1.66%	-4.0%
FISV	Sell	Fiserv Incorporated	$1,748,000	-37.6%	17,578	-31.8%	1.62%	-37.3%
VGK	Sell	Vanguard FTSE Europe ETF	$1,619,000	+3.4%	33,230	-1.0%	1.50%	+3.9%
ABT	Buy	Abbott Laboratories	$1,360,000	+8.8%	32,167	+1.2%	1.26%	+9.3%
SPLV	Sell	Powershares Exchange Traded Fu	$361,000	-14.9%	8,690	-12.3%	0.34%	-14.5%
GOOG	Exit	Alphabet Inc Cap Cl C.	$0	–	-2,071	–	-1.32%	–
MYL	Exit	Mylan Labs	$0	–	-60,035	–	-2.40%	–

Q2 2016

			Value		Shares		↓ Weighting
HPT	New	Hospitality Property Trust	$3,976,000	–	138,043	–	3.68%	–
VZ	New	Verizon Communications	$3,823,000	–	68,470	–	3.54%	–
SLB	New	Schlumberger Ltd	$3,620,000	–	45,775	–	3.35%	–
HYG	New	iShares TR High Yield ETF	$3,473,000	–	41,005	–	3.21%	–
MRK	New	Merck & Company	$3,413,000	–	59,235	–	3.16%	–
CTSH	New	Congnizant Tech CL A	$3,322,000	–	58,036	–	3.07%	–
AAPL	New	Apple Inc	$3,247,000	–	33,966	–	3.00%	–
CHSP	New	Chesapeake Lodging Tust	$3,180,000	–	136,781	–	2.94%	–
UTG	New	Reaves Utility Income Fund	$3,129,000	–	96,365	–	2.89%	–
PFE	New	Pfizer	$3,122,000	–	88,674	–	2.89%	–
JNJ	New	Johnson & Johnson	$3,025,000	–	24,941	–	2.80%	–
TMO	New	Thermo Fisher Scientific Inc.	$2,873,000	–	19,445	–	2.66%	–
AL	New	Air Lease Corporation	$2,850,000	–	106,407	–	2.64%	–
BCR	New	C.R. Bard, Inc.	$2,833,000	–	12,047	–	2.62%	–
FISV	New	Fiserv Incorporated	$2,801,000	–	25,763	–	2.59%	–
ALLY	New	Ally Financial, Incorporated	$2,721,000	–	159,420	–	2.52%	–
FLEX	New	Flextronics International	$2,719,000	–	230,462	–	2.52%	–
JPM	New	J.P. Morgan Chase & Company	$2,715,000	–	43,698	–	2.51%	–
NXRT	New	Nexpoint Residential	$2,655,000	–	145,890	–	2.46%	–
UN	New	Unilever N V	$2,649,000	–	56,430	–	2.45%	–
URI	New	United Rentals Incorporated	$2,642,000	–	39,380	–	2.44%	–
MYL	New	Mylan Labs	$2,596,000	–	60,035	–	2.40%	–
HZNP	New	Horizon Pharma PLC	$2,471,000	–	150,050	–	2.28%	–
PFN	New	Pimco Income Strategy Fund II	$2,434,000	–	264,595	–	2.25%	–
BAC	New	Bank Of America	$2,367,000	–	178,351	–	2.19%	–
PLD	New	Prologis SBI	$2,333,000	–	47,579	–	2.16%	–
SNPS	New	Synopsys Incorporated	$2,251,000	–	41,620	–	2.08%	–
MTG	New	MGIC Investments	$2,205,000	–	370,665	–	2.04%	–
HXL	New	Hexcel Corporation	$2,180,000	–	52,350	–	2.02%	–
MET	New	Metlife, Incorporated	$2,136,000	–	53,626	–	1.98%	–
FB	New	Facebook, Incorpoated CL A	$2,118,000	–	18,536	–	1.96%	–
MGRCL	New	Affiliated Managers	$2,009,000	–	75,286	–	1.86%	–
AINV	New	Apollo Investment Corporation	$2,001,000	–	361,148	–	1.85%	–
HOLX	New	Hologic Incorporated	$1,972,000	–	57,000	–	1.82%	–
BMO	New	Bank of Montreal	$1,939,000	–	30,585	–	1.79%	–
COST	New	Costco Wholesale	$1,875,000	–	11,937	–	1.73%	–
UPS	New	United Parcel Service	$1,831,000	–	17,000	–	1.69%	–
AIG	New	American International Group	$1,730,000	–	32,715	–	1.60%	–
GOOGL	New	Alphabet Inc Cap Cl A.	$1,678,000	–	2,385	–	1.55%	–
VGK	New	Vanguard FTSE Europe ETF	$1,566,000	–	33,560	–	1.45%	–
GOOG	New	Alphabet Inc Cap Cl C.	$1,433,000	–	2,071	–	1.32%	–
ABT	New	Abbott Laboratories	$1,250,000	–	31,787	–	1.16%	–
SPLV	New	Powershares Exchange Traded Fu	$424,000	–	9,910	–	0.39%	–
GLD	New	SPDR Gold TR Gold	$313,000	–	2,475	–	0.29%	–
LLY	New	Eli Lilly & Company	$217,000	–	2,753	–	0.20%	–
IBZT	New	IBIZ Technology	$0	–	22,500	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-22,500	–	0.00%	–
ORIG	Exit	Ocean Rig UDW Inc.	$0	–	-89,595	–	-0.16%	–
LLY	Exit	Eli Lilly & Company	$0	–	-2,606	–	-0.18%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-2,625	–	-0.23%	–
ABT	Exit	Abbott Laboratories	$0	–	-33,027	–	-1.09%	–
IEZ	Exit	iShares US Oil Services ETF	$0	–	-37,145	–	-1.11%	–
GOOG	Exit	Alphabet Inc Cap Cl C.	$0	–	-2,222	–	-1.11%	–
SUNEQ	Exit	Sunedison Incorporated	$0	–	-193,675	–	-1.14%	–
GOOGL	Exit	Alphabet Inc Cap Cl A.	$0	–	-2,508	–	-1.31%	–
VGK	Exit	Vanguard FTSE Europe ETF	$0	–	-34,890	–	-1.41%	–
BMO	Exit	Bank of Montreal	$0	–	-32,130	–	-1.44%	–
UPS	Exit	United Parcel Service	$0	–	-18,300	–	-1.48%	–
AFMCL	Exit	Affiliated Managers Group	$0	–	-73,996	–	-1.52%	–
AAXJ	Exit	iShares MSCI Asia ex-Japan ETF	$0	–	-36,815	–	-1.59%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-42,940	–	-1.62%	–
GE	Exit	General Electric	$0	–	-79,427	–	-1.64%	–
AINV	Exit	Apollo Investment Corporation	$0	–	-380,140	–	-1.71%	–
CCJ	Exit	Cameco Corporation	$0	–	-174,475	–	-1.74%	–
AMJ	Exit	JPMorgan Alerian MLP ETN	$0	–	-71,133	–	-1.77%	–
VWO	Exit	Vanguard Intl Equity Index ETF	$0	–	-70,216	–	-1.90%	–
BCR	Exit	C.R. Bard, Inc.	$0	–	-12,677	–	-1.94%	–
PFN	Exit	Pimco Income Strategy Fund II	$0	–	-267,225	–	-1.94%	–
FISV	Exit	Fiserv Incorporated	$0	–	-27,348	–	-1.94%	–
HIG	Exit	Hartford Financial	$0	–	-51,846	–	-1.95%	–
UN	Exit	Unilever N V	$0	–	-59,220	–	-1.95%	–
COST	Exit	Costco Wholesale	$0	–	-16,717	–	-1.98%	–
JNJ	Exit	Johnson & Johnson	$0	–	-26,289	–	-2.01%	–
HXL	Exit	Hexcel Corporation	$0	–	-55,360	–	-2.04%	–
FLEX	Exit	Flextronics International	$0	–	-238,677	–	-2.06%	–
AL	Exit	Air Lease Corporation	$0	–	-84,192	–	-2.13%	–
URI	Exit	United Rentals Incorporated	$0	–	-43,455	–	-2.14%	–
FB	Exit	Facebook, Incorpoated CL A	$0	–	-29,061	–	-2.14%	–
CHSP	Exit	Chesapeake Lodging Tust	$0	–	-102,086	–	-2.18%	–
NLY	Exit	Annaly Mortgage Management	$0	–	-272,925	–	-2.21%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-45,753	–	-2.29%	–
BAC	Exit	Bank Of America	$0	–	-185,636	–	-2.37%	–
PFE	Exit	Pfizer	$0	–	-92,449	–	-2.38%	–
PLD	Exit	Prologis SBI	$0	–	-75,604	–	-2.41%	–
AIG	Exit	American International Group	$0	–	-53,840	–	-2.51%	–
VZ	Exit	Verizon Communications	$0	–	-71,665	–	-2.56%	–
ESRX	Exit	Express Scripts Holding Co.	$0	–	-40,606	–	-2.69%	–
ALLY	Exit	Ally Financial, Incorporated	$0	–	-163,355	–	-2.73%	–
SLB	Exit	Schlumberger Ltd	$0	–	-48,757	–	-2.76%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-27,695	–	-2.78%	–
MTG	Exit	MGIC Investments	$0	–	-389,040	–	-2.95%	–
HYG	Exit	iShares TR High Yield ETF	$0	–	-43,560	–	-2.97%	–
HPT	Exit	Hospitality Property Trust	$0	–	-144,243	–	-3.02%	–
MET	Exit	Metlife, Incorporated	$0	–	-79,676	–	-3.08%	–
CTSH	Exit	Congnizant Tech Solutions CL A	$0	–	-61,306	–	-3.15%	–
AAPL	Exit	Apple Inc	$0	–	-35,267	–	-3.19%	–
HOLX	Exit	Hologic Incorporated	$0	–	-106,905	–	-3.43%	–

Q3 2015

			Value		Shares		↓ Weighting
HOLX	Buy	Hologic Incorporated	$4,183,000	+3.5%	106,905	+0.7%	3.43%	+14.6%
AAPL	Buy	Apple Inc	$3,890,000	-10.5%	35,267	+1.8%	3.19%	-0.8%
CTSH	Buy	Congnizant Tech Solutions CL A	$3,838,000	+4.2%	61,306	+1.7%	3.15%	+15.4%
MET	Buy	Metlife, Incorporated	$3,757,000	-14.7%	79,676	+1.3%	3.08%	-5.5%
HPT	Buy	Hospitality Property Trust	$3,690,000	+28.8%	144,243	+45.1%	3.02%	+42.6%
HYG	Buy	iShares TR High Yield ETF	$3,628,000	-5.7%	43,560	+0.5%	2.97%	+4.4%
MTG	Buy	MGIC Investments	$3,603,000	-17.2%	389,040	+1.8%	2.95%	-8.3%
TMO	Buy	Thermo Fisher Scientific Inc.	$3,387,000	-4.6%	27,695	+1.2%	2.78%	+5.6%
SLB	Buy	Schlumberger Ltd	$3,363,000	+15.0%	48,757	+43.7%	2.76%	+27.3%
ALLY	Buy	Ally Financial, Incorporated	$3,329,000	-7.9%	163,355	+1.3%	2.73%	+1.9%
ESRX	Buy	Express Scripts Holding Co.	$3,287,000	-8.3%	40,606	+0.8%	2.69%	+1.6%
VZ	Buy	Verizon Communications	$3,118,000	-4.7%	71,665	+2.1%	2.56%	+5.5%
AIG	Buy	American International Group	$3,059,000	-6.4%	53,840	+1.8%	2.51%	+3.6%
PLD	Buy	Prologis SBI	$2,941,000	+19.3%	75,604	+13.8%	2.41%	+32.1%
PFE	Buy	Pfizer	$2,904,000	-4.8%	92,449	+1.6%	2.38%	+5.4%
BAC	Buy	Bank Of America	$2,892,000	-6.3%	185,636	+2.4%	2.37%	+3.8%
JPM	Buy	J.P. Morgan Chase & Company	$2,790,000	-9.3%	45,753	+0.8%	2.29%	+0.5%
NLY	New	Annaly Mortgage Management	$2,694,000	–	272,925	–	2.21%	–
CHSP	Buy	Chesapeake Lodging Tust	$2,660,000	-13.1%	102,086	+1.6%	2.18%	-3.8%
FB	Buy	Facebook, Incorpoated CL A	$2,613,000	+5.0%	29,061	+0.1%	2.14%	+16.3%
URI	Buy	United Rentals Incorporated	$2,609,000	+12.7%	43,455	+64.5%	2.14%	+24.9%
AL	Buy	Air Lease Corporation	$2,603,000	-7.2%	84,192	+1.8%	2.13%	+2.7%
FLEX	Buy	Flextronics International	$2,516,000	-3.0%	238,677	+4.1%	2.06%	+7.4%
HXL	Buy	Hexcel Corporation	$2,483,000	-7.9%	55,360	+2.1%	2.04%	+2.0%
JNJ	Buy	Johnson & Johnson	$2,454,000	-2.6%	26,289	+1.7%	2.01%	+7.8%
COST	Buy	Costco Wholesale	$2,417,000	+8.0%	16,717	+0.9%	1.98%	+19.6%
UN	Buy	Unilever N V	$2,381,000	-3.2%	59,220	+0.7%	1.95%	+7.2%
HIG	Sell	Hartford Financial	$2,374,000	-25.1%	51,846	-32.0%	1.95%	-17.1%
FISV	Sell	Fiserv Incorporated	$2,369,000	-26.7%	27,348	-29.9%	1.94%	-18.8%
BCR	Sell	C.R. Bard, Inc.	$2,362,000	+8.3%	12,677	-0.7%	1.94%	+20.0%
PFN	Buy	Pimco Income Strategy Fund II	$2,362,000	-9.4%	267,225	+0.8%	1.94%	+0.4%
VWO	Buy	Vanguard Intl Equity Index ETF	$2,323,000	-18.4%	70,216	+0.8%	1.90%	-9.7%
AMJ	Buy	JPMorgan Alerian MLP ETN	$2,162,000	-22.1%	71,133	+1.5%	1.77%	-13.7%
CCJ	New	Cameco Corporation	$2,123,000	–	174,475	–	1.74%	–
AINV	Buy	Apollo Investment Corporation	$2,083,000	-21.2%	380,140	+1.9%	1.71%	-12.7%
GE	Buy	General Electric	$2,003,000	-4.2%	79,427	+0.9%	1.64%	+6.1%
SNPS	Buy	Synopsys Incorporated	$1,983,000	-8.2%	42,940	+0.7%	1.62%	+1.7%
AAXJ	Sell	iShares MSCI Asia ex-Japan ETF	$1,942,000	-16.3%	36,815	-0.0%	1.59%	-7.3%
AFMCL	Buy	Affiliated Managers Group	$1,849,000	+0.7%	73,996	+1.6%	1.52%	+11.5%
BMO	Buy	Bank of Montreal	$1,753,000	-6.9%	32,130	+1.2%	1.44%	+3.2%
VGK	Buy	Vanguard FTSE Europe ETF	$1,716,000	-7.3%	34,890	+1.7%	1.41%	+2.6%
GOOGL	New	Alphabet Inc Cap Cl A.	$1,601,000	–	2,508	–	1.31%	–
SUNEQ	Buy	Sunedison Incorporated	$1,391,000	-63.9%	193,675	+50.3%	1.14%	-60.0%
GOOG	New	Alphabet Inc Cap Cl C.	$1,352,000	–	2,222	–	1.11%	–
IEZ	Buy	iShares US Oil Services ETF	$1,351,000	-24.1%	37,145	+0.1%	1.11%	-16.0%
ABT	Buy	Abbott Laboratories	$1,328,000	-16.4%	33,027	+2.0%	1.09%	-7.5%
GOOG	Exit	Google Incorporated Cl. C	$0	–	-2,230	–	-0.86%	–
GOOGL	Exit	Google Inorporated Cl A.	$0	–	-2,472	–	-0.99%	–
WFTIQ	Exit	Weatherford Intl Ltd	$0	–	-116,319	–	-1.06%	–
SFTBY	Exit	Softbank Corp ADR	$0	–	-64,790	–	-1.41%	–
BKF	Exit	iShares MSCI BRIC Index ETF	$0	–	-57,240	–	-1.58%	–
BKLN	Exit	Powershares ETF Senior Loan	$0	–	-125,461	–	-2.21%	–

Q2 2015

			Value		Shares		↓ Weighting
MET	New	Metlife, Incorporated	$4,403,000	–	78,641	–	3.26%	–
MTG	New	MGIC Investments	$4,350,000	–	382,260	–	3.22%	–
AAPL	New	Apple Inc	$4,345,000	–	34,643	–	3.22%	–
HOLX	New	Hologic Incorporated	$4,042,000	–	106,210	–	2.99%	–
SUNEQ	New	Sunedison Incorporated	$3,855,000	–	128,885	–	2.85%	–
HYG	New	iShares TR High Yield ETF	$3,848,000	–	43,335	–	2.85%	–
CTSH	New	Congnizant Tech Solutions CL A	$3,683,000	–	60,281	–	2.72%	–
ALLY	New	Ally Financial, Incorporated	$3,616,000	–	161,210	–	2.68%	–
ESRX	New	Express Scripts Holding Co.	$3,584,000	–	40,291	–	2.65%	–
TMO	New	Thermo Fisher Scientific Inc.	$3,552,000	–	27,375	–	2.63%	–
VZ	New	Verizon Communications	$3,271,000	–	70,180	–	2.42%	–
AIG	New	American International Group	$3,269,000	–	52,880	–	2.42%	–
FISV	New	Fiserv Incorporated	$3,234,000	–	39,039	–	2.39%	–
HIG	New	Hartford Financial	$3,170,000	–	76,256	–	2.35%	–
BAC	New	Bank Of America	$3,086,000	–	181,301	–	2.28%	–
JPM	New	J.P. Morgan Chase & Company	$3,075,000	–	45,378	–	2.28%	–
CHSP	New	Chesapeake Lodging Tust	$3,062,000	–	100,461	–	2.27%	–
PFE	New	Pfizer	$3,050,000	–	90,949	–	2.26%	–
BKLN	New	Powershares ETF Senior Loan	$2,985,000	–	125,461	–	2.21%	–
SLB	New	Schlumberger Ltd	$2,925,000	–	33,933	–	2.16%	–
HPT	New	Hospitality Property Trust	$2,865,000	–	99,408	–	2.12%	–
VWO	New	Vanguard Intl Equity Index ETF	$2,848,000	–	69,667	–	2.11%	–
AL	New	Air Lease Corporation	$2,805,000	–	82,742	–	2.08%	–
AMJ	New	JPMorgan Alerian MLP ETN	$2,775,000	–	70,078	–	2.05%	–
HXL	New	Hexcel Corporation	$2,697,000	–	54,225	–	2.00%	–
AINV	New	Apollo Investment Corporation	$2,642,000	–	373,148	–	1.96%	–
PFN	New	Pimco Income Strategy Fund II	$2,606,000	–	265,120	–	1.93%	–
FLEX	New	Flextronics International	$2,594,000	–	229,372	–	1.92%	–
JNJ	New	Johnson & Johnson	$2,520,000	–	25,854	–	1.86%	–
FB	New	Facebook, Incorpoated CL A	$2,489,000	–	29,025	–	1.84%	–
PLD	New	Prologis SBI	$2,466,000	–	66,462	–	1.82%	–
UN	New	Unilever N V	$2,460,000	–	58,785	–	1.82%	–
AAXJ	New	iShares MSCI Asia ex-Japan ETF	$2,320,000	–	36,820	–	1.72%	–
URI	New	United Rentals Incorporated	$2,314,000	–	26,410	–	1.71%	–
COST	New	Costco Wholesale	$2,238,000	–	16,572	–	1.66%	–
BCR	New	C.R. Bard, Inc.	$2,180,000	–	12,772	–	1.61%	–
SNPS	New	Synopsys Incorporated	$2,160,000	–	42,640	–	1.60%	–
BKF	New	iShares MSCI BRIC Index ETF	$2,142,000	–	57,240	–	1.58%	–
GE	New	General Electric	$2,091,000	–	78,682	–	1.55%	–
SFTBY	New	Softbank Corp ADR	$1,909,000	–	64,790	–	1.41%	–
BMO	New	Bank of Montreal	$1,882,000	–	31,750	–	1.39%	–
VGK	New	Vanguard FTSE Europe ETF	$1,851,000	–	34,295	–	1.37%	–
AFMCL	New	Affiliated Managers Group	$1,837,000	–	72,796	–	1.36%	–
IEZ	New	iShares US Oil Services ETF	$1,781,000	–	37,095	–	1.32%	–
UPS	New	United Parcel Service	$1,773,000	–	18,300	–	1.31%	–
ABT	New	Abbott Laboratories	$1,589,000	–	32,367	–	1.18%	–
WFTIQ	New	Weatherford Intl Ltd	$1,427,000	–	116,319	–	1.06%	–
GOOGL	New	Google Inorporated Cl A.	$1,335,000	–	2,472	–	0.99%	–
GOOG	New	Google Incorporated Cl. C	$1,161,000	–	2,230	–	0.86%	–
ORIG	New	Ocean Rig UDW Inc.	$460,000	–	89,595	–	0.34%	–
GLD	New	SPDR Gold TR Gold	$295,000	–	2,625	–	0.22%	–
LLY	New	Eli Lilly & Company	$218,000	–	2,606	–	0.16%	–
IBZT	New	IBIZ Technology	$0	–	22,500	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-22,500	–	0.00%	–
EXEL	Exit	Exelixis Incorporated	$0	–	-17,450	–	-0.02%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-2,475	–	-0.22%	–
GOOG	Exit	Google Incorporated Cl. C	$0	–	-2,294	–	-1.02%	–
ABT	Exit	Abbott Laboratories	$0	–	-31,872	–	-1.02%	–
GOOGL	Exit	Google Inorporated Cl A.	$0	–	-2,375	–	-1.07%	–
GTATQ	Exit	GT Advanced Technologies, Inc.	$0	–	-143,310	–	-1.19%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-43,610	–	-1.33%	–
AFMCL	Exit	Affiliated Managers Group	$0	–	-71,051	–	-1.39%	–
UPS	Exit	United Parcel Service	$0	–	-19,300	–	-1.46%	–
ORIG	Exit	Ocean Rig UDW Inc.	$0	–	-119,825	–	-1.48%	–
GE	Exit	General Electric	$0	–	-78,377	–	-1.54%	–
HXL	Exit	Hexcel Corporation	$0	–	-53,125	–	-1.62%	–
BKF	Exit	iShares MSCI BRIC Index	$0	–	-56,715	–	-1.62%	–
COST	Exit	Costco Wholesale	$0	–	-17,072	–	-1.64%	–
AAXJ	Exit	iShares MSCI Asia ex-Japan ETF	$0	–	-35,655	–	-1.68%	–
UN	Exit	Unilever N V	$0	–	-56,945	–	-1.73%	–
SFTBY	Exit	Softbank Corp ADR	$0	–	-65,635	–	-1.76%	–
WFTIQ	Exit	Weatherford Intl Ltd	$0	–	-111,509	–	-1.78%	–
FB	Exit	Facebook, Incorpoated CL A	$0	–	-29,710	–	-1.80%	–
ALLY	Exit	Ally Financial, Incorporated	$0	–	-102,835	–	-1.82%	–
FLEX	Exit	Flextronics International	$0	–	-232,782	–	-1.84%	–
SUNEQ	Exit	Sunedison Incorporated	$0	–	-127,970	–	-1.85%	–
PLD	Exit	Prologis SBI	$0	–	-66,106	–	-1.91%	–
HPT	Exit	Hospitality Property Trust	$0	–	-96,253	–	-1.98%	–
BCR	Exit	C.R. Bard, Inc.	$0	–	-18,477	–	-2.02%	–
FISV	Exit	Fiserv Incorporated	$0	–	-41,009	–	-2.03%	–
PFE	Exit	Pfizer	$0	–	-89,781	–	-2.04%	–
AIG	Exit	American International Group	$0	–	-49,405	–	-2.05%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-44,593	–	-2.06%	–
AL	Exit	Air Lease Corporation	$0	–	-83,422	–	-2.08%	–
JNJ	Exit	Johnson & Johnson	$0	–	-25,569	–	-2.09%	–
CTSH	Exit	Congnizant Tech Solutions CL A	$0	–	-61,241	–	-2.10%	–
PFN	Exit	Pimco Income Strategy Fund II	$0	–	-263,855	–	-2.13%	–
URI	Exit	United Rentals Incorporated	$0	–	-25,445	–	-2.17%	–
VWO	Exit	Vanguard Intl Equity Index ETF	$0	–	-68,731	–	-2.20%	–
HIG	Exit	Hartford Financial	$0	–	-77,041	–	-2.20%	–
ESRX	Exit	Express Scripts Holding Co.	$0	–	-40,738	–	-2.21%	–
CHSP	Exit	Chesapeake Lodging Tust	$0	–	-99,011	–	-2.21%	–
AINV	Exit	Apollo Investment Corporation	$0	–	-359,203	–	-2.25%	–
MTG	Exit	MGIC Investments	$0	–	-382,350	–	-2.29%	–
BKLN	Exit	Powershares ETF Senior Loan	$0	–	-123,746	–	-2.30%	–
BAC	Exit	Bank Of America	$0	–	-180,011	–	-2.35%	–
QCOM	Exit	Qualcomm Incorporated	$0	–	-42,936	–	-2.46%	–
SLB	Exit	Schlumberger Ltd	$0	–	-33,789	–	-2.64%	–
ISIS	Exit	Isis Pharmaceuticals Incorpora	$0	–	-90,240	–	-2.69%	–
VZ	Exit	Verizon Communications	$0	–	-70,630	–	-2.71%	–
MET	Exit	Metlife, Incorporated	$0	–	-66,431	–	-2.74%	–
AMJ	Exit	JPMorgan Alerian MLP Index ETN	$0	–	-68,963	–	-2.81%	–
HYG	Exit	iShares TR High Yield Corp	$0	–	-42,600	–	-3.00%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-34,420	–	-3.21%	–
AAPL	Exit	Apple Computer Inc	$0	–	-54,110	–	-4.18%	–

Q3 2014

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Computer Inc	$5,452,000	+8.6%	54,110	+0.2%	4.18%	+7.7%
TMO	Sell	Thermo Fisher Scientific Inc.	$4,189,000	+0.6%	34,420	-2.4%	3.21%	-0.2%
HYG	Buy	iShares TR High Yield Corp	$3,917,000	-2.2%	42,600	+1.2%	3.00%	-3.1%
AMJ	Buy	JPMorgan Alerian MLP Index ETN	$3,661,000	+1.9%	68,963	+0.5%	2.81%	+1.0%
MET	Buy	Metlife, Incorporated	$3,569,000	-2.5%	66,431	+0.8%	2.74%	-3.4%
VZ	Buy	Verizon Communications	$3,531,000	+45.4%	70,630	+42.3%	2.71%	+44.1%
ISIS	Sell	Isis Pharmaceuticals Incorpora	$3,504,000	+11.9%	90,240	-0.7%	2.69%	+10.9%
SLB	Buy	Schlumberger Ltd	$3,436,000	-12.7%	33,789	+1.3%	2.64%	-13.4%
QCOM	Sell	Qualcomm Incorporated	$3,210,000	-7.5%	42,936	-2.0%	2.46%	-8.3%
BAC	Buy	Bank Of America	$3,069,000	+12.5%	180,011	+1.4%	2.35%	+11.5%
BKLN	Buy	Powershares ETF Senior Loan	$3,005,000	-1.2%	123,746	+1.2%	2.30%	-2.0%
MTG	Sell	MGIC Investments	$2,986,000	-15.6%	382,350	-0.1%	2.29%	-16.3%
AINV	Buy	Apollo Investment Corporation	$2,935,000	+684.8%	359,203	+727.0%	2.25%	+678.9%
CHSP	Buy	Chesapeake Lodging Tust	$2,886,000	-2.8%	99,011	+0.8%	2.21%	-3.6%
ESRX	Buy	Express Scripts Holding Co.	$2,877,000	+2.0%	40,738	+0.2%	2.21%	+1.1%
HIG	Sell	Hartford Financial	$2,870,000	+3.3%	77,041	-0.7%	2.20%	+2.4%
VWO	Buy	Vanguard Intl Equity Index ETF	$2,867,000	-2.0%	68,731	+1.3%	2.20%	-2.8%
URI	Sell	United Rentals Incorporated	$2,827,000	-35.8%	25,445	-39.5%	2.17%	-36.3%
PFN	New	Pimco Income Strategy Fund II	$2,778,000	–	263,855	–	2.13%	–
CTSH	Buy	Congnizant Tech Solutions CL A	$2,742,000	-7.1%	61,241	+1.4%	2.10%	-7.9%
JNJ	Sell	Johnson & Johnson	$2,725,000	+0.6%	25,569	-1.2%	2.09%	-0.2%
AL	Buy	Air Lease Corporation	$2,711,000	-14.7%	83,422	+1.3%	2.08%	-15.4%
JPM	Sell	J.P. Morgan Chase & Company	$2,686,000	+3.6%	44,593	-0.9%	2.06%	+2.7%
AIG	Sell	American International Group	$2,669,000	-1.6%	49,405	-0.6%	2.05%	-2.4%
PFE	Sell	Pfizer	$2,655,000	-1.2%	89,781	-0.8%	2.04%	-2.0%
FISV	Sell	Fiserv Incorporated	$2,651,000	+5.9%	41,009	-1.2%	2.03%	+5.0%
BCR	Sell	C.R. Bard, Inc.	$2,637,000	-2.9%	18,477	-2.7%	2.02%	-3.7%
HPT	Buy	Hospitality Property Trust	$2,584,000	-10.3%	96,253	+1.6%	1.98%	-11.0%
PLD	Sell	Prologis SBI	$2,492,000	-9.2%	66,106	-1.1%	1.91%	-10.0%
SUNEQ	New	Sunedison Incorporated	$2,416,000	–	127,970	–	1.85%	–
FLEX	Buy	Flextronics International	$2,402,000	-5.7%	232,782	+1.2%	1.84%	-6.4%
ALLY	Buy	Ally Financial, Incorporated	$2,380,000	-2.3%	102,835	+1.0%	1.82%	-3.1%
FB	Sell	Facebook, Incorpoated CL A	$2,348,000	-18.1%	29,710	-30.3%	1.80%	-18.8%
WFTIQ	Sell	Weatherford Intl Ltd	$2,319,000	-10.3%	111,509	-0.8%	1.78%	-11.0%
SFTBY	New	Softbank Corp ADR	$2,300,000	–	65,635	–	1.76%	–
UN	Buy	Unilever N V	$2,260,000	-8.7%	56,945	+0.7%	1.73%	-9.5%
AAXJ	Sell	iShares MSCI Asia ex-Japan ETF	$2,186,000	-2.5%	35,655	-0.3%	1.68%	-3.2%
COST	Sell	Costco Wholesale	$2,139,000	+6.7%	17,072	-1.9%	1.64%	+5.8%
BKF	Sell	iShares MSCI BRIC Index	$2,112,000	-4.0%	56,715	-0.6%	1.62%	-4.8%
HXL	Sell	Hexcel Corporation	$2,109,000	-3.3%	53,125	-0.3%	1.62%	-4.1%
GE	Buy	General Electric	$2,008,000	-1.5%	78,377	+1.0%	1.54%	-2.3%
ORIG	Sell	Ocean Rig UDW Inc.	$1,932,000	-15.0%	119,825	-0.3%	1.48%	-15.7%
AFMCL	Buy	Affiliated Managers Group	$1,814,000	-2.5%	71,051	+0.2%	1.39%	-3.3%
SNPS	Sell	Synopsys Incorporated	$1,731,000	+1.5%	43,610	-0.8%	1.33%	+0.6%
GTATQ	Sell	GT Advanced Technologies, Inc.	$1,552,000	-42.0%	143,310	-0.3%	1.19%	-42.5%
GOOGL	Buy	Google Inorporated Cl A.	$1,397,000	+1.9%	2,375	+1.3%	1.07%	+1.0%
ABT	Sell	Abbott Laboratories	$1,326,000	+1.6%	31,872	-0.1%	1.02%	+0.8%
GOOG	Sell	Google Incorporated Cl. C	$1,324,000	-0.3%	2,294	-0.6%	1.02%	-1.2%
EXEL	Sell	Exelixis Incorporated	$27,000	-77.1%	17,450	-50.0%	0.02%	-76.9%
ACN	Exit	Accenture Plc	$0	–	-24,199	–	-1.51%	–
ORCL	Exit	Oracle Corporation	$0	–	-53,421	–	-1.68%	–

Q2 2014

			Value		Shares		↓ Weighting
AAPL	New	Apple Computer Inc	$5,018,000	–	54,001	–	3.88%	–
URI	New	United Rentals Incorporated	$4,403,000	–	42,045	–	3.41%	–
TMO	New	Thermo Fisher Scientific Inc.	$4,163,000	–	35,278	–	3.22%	–
HYG	New	iShares TR High Yield Corp	$4,006,000	–	42,076	–	3.10%	–
SLB	New	Schlumberger Ltd	$3,934,000	–	33,356	–	3.04%	–
MET	New	Metlife, Incorporated	$3,661,000	–	65,892	–	2.83%	–
AMJ	New	JPMorgan Alerian MLP Index ETN	$3,593,000	–	68,586	–	2.78%	–
MTG	New	MGIC Investments	$3,537,000	–	382,810	–	2.74%	–
QCOM	New	Qualcomm Incorporated	$3,471,000	–	43,824	–	2.68%	–
AL	New	Air Lease Corporation	$3,177,000	–	82,337	–	2.46%	–
ISIS	New	Isis Pharmaceuticals Incorpora	$3,132,000	–	90,920	–	2.42%	–
BKLN	New	Powershares ETF Senior Loan	$3,041,000	–	122,283	–	2.35%	–
CHSP	New	Chesapeake Lodging Tust	$2,969,000	–	98,226	–	2.30%	–
CTSH	New	Congnizant Tech Solutions CL A	$2,953,000	–	60,386	–	2.28%	–
VWO	New	Vanguard Intl Equity Index ETF	$2,926,000	–	67,846	–	2.26%	–
HPT	New	Hospitality Property Trust	$2,881,000	–	94,779	–	2.23%	–
FB	New	Facebook, Incorpoated CL A	$2,866,000	–	42,595	–	2.22%	–
ESRX	New	Express Scripts Holding Co.	$2,820,000	–	40,673	–	2.18%	–
HIG	New	Hartford Financial	$2,779,000	–	77,606	–	2.15%	–
PLD	New	Prologis SBI	$2,746,000	–	66,840	–	2.12%	–
BAC	New	Bank Of America	$2,729,000	–	177,541	–	2.11%	–
BCR	New	C.R. Bard, Inc.	$2,715,000	–	18,982	–	2.10%	–
AIG	New	American International Group	$2,712,000	–	49,683	–	2.10%	–
JNJ	New	Johnson & Johnson	$2,708,000	–	25,889	–	2.10%	–
PFE	New	Pfizer	$2,687,000	–	90,544	–	2.08%	–
GTATQ	New	GT Advanced Technologies, Inc.	$2,674,000	–	143,750	–	2.07%	–
JPM	New	J.P. Morgan Chase & Company	$2,592,000	–	44,980	–	2.00%	–
WFTIQ	New	Weatherford Intl Ltd	$2,586,000	–	112,444	–	2.00%	–
FLEX	New	Flextronics International	$2,546,000	–	229,994	–	1.97%	–
FISV	New	Fiserv Incorporated	$2,504,000	–	41,505	–	1.94%	–
UN	New	Unilever N V	$2,475,000	–	56,555	–	1.91%	–
ALLY	New	Ally Financial, Incorporated	$2,435,000	–	101,845	–	1.88%	–
VZ	New	Verizon Communications	$2,429,000	–	49,640	–	1.88%	–
ORIG	New	Ocean Rig UDW Inc.	$2,274,000	–	120,130	–	1.76%	–
AAXJ	New	iShares MSCI Asia ex-Japan ETF	$2,241,000	–	35,745	–	1.73%	–
BKF	New	iShares MSCI BRIC Index	$2,199,000	–	57,050	–	1.70%	–
HXL	New	Hexcel Corporation	$2,180,000	–	53,310	–	1.69%	–
ORCL	New	Oracle Corporation	$2,165,000	–	53,421	–	1.68%	–
GE	New	General Electric	$2,039,000	–	77,582	–	1.58%	–
COST	New	Costco Wholesale	$2,004,000	–	17,398	–	1.55%	–
UPS	New	United Parcel Service	$1,981,000	–	19,300	–	1.53%	–
ACN	New	Accenture Plc	$1,956,000	–	24,199	–	1.51%	–
AFMCL	New	Affiliated Managers Group	$1,861,000	–	70,923	–	1.44%	–
SNPS	New	Synopsys Incorporated	$1,706,000	–	43,945	–	1.32%	–
GOOGL	New	Google Inorporated Cl A.	$1,371,000	–	2,344	–	1.06%	–
GOOG	New	Google Incorporated Cl. C	$1,328,000	–	2,309	–	1.03%	–
ABT	New	Abbott Laboratories	$1,305,000	–	31,914	–	1.01%	–
AINV	New	Apollo Investment Corporation	$374,000	–	43,436	–	0.29%	–
GLD	New	SPDR Gold TR Gold	$317,000	–	2,475	–	0.24%	–
EXEL	New	Exelixis Incorporated	$118,000	–	34,900	–	0.09%	–
IBZT	New	IBIZ Technology	$0	–	22,500	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
IBZT	Exit	IBIZ Technology	$0	–	-22,500	–	0.00%	–
ANAD	Exit	Anadigics Incorporated	$0	–	-20,600	–	-0.04%	–
EXEL	Exit	Exelixis Incorporated	$0	–	-34,500	–	-0.17%	–
PCYC	Exit	Pharmacyclics Inc	$0	–	-1,500	–	-0.18%	–
JPC	Exit	Nuveen Pfd Income Opportunitiepfd	$0	–	-26,191	–	-0.19%	–
CORPRACL	Exit	Coresite Realty Pfd A 7.25%pfd	$0	–	-10,770	–	-0.22%	–
METPRA	Exit	Metlife Inc Pfd A Flt Ratepfd	$0	–	-12,620	–	-0.25%	–
GLD	Exit	SPDR Gold TR Gold	$0	–	-2,475	–	-0.27%	–
AINV	Exit	Apollo Investment Corporation	$0	–	-40,587	–	-0.28%	–
WFCPRN	Exit	Wells Fargo & Co Pfd N 5.2%pfd	$0	–	-17,135	–	-0.31%	–
GSPRA	Exit	Goldman Sachs Pfd A 3.75% Flt.pfd	$0	–	-18,030	–	-0.31%	–
NLYPRD	Exit	Annaly Capital Mgmt Pfd D 7.5%pfd	$0	–	-18,135	–	-0.36%	–
ABT	Exit	Abbott Laboratories	$0	–	-29,636	–	-0.84%	–
ZIONO	Exit	Zions Bancorp Pfd G 6.30%pfd	$0	–	-60,575	–	-1.22%	–
EMC	Exit	EMC Corporation	$0	–	-59,022	–	-1.29%	–
CPRQCL	Exit	Citigroup Inc. Pfd Q 6.00%pfd	$0	–	-65,350	–	-1.38%	–
SNPS	Exit	Synopsys Incorporated	$0	–	-43,970	–	-1.42%	–
ACN	Exit	Accenture Plc	$0	–	-23,731	–	-1.49%	–
ORCL	Exit	Oracle Corporation	$0	–	-52,988	–	-1.50%	–
GE	Exit	General Electric	$0	–	-73,767	–	-1.50%	–
AFMCL	Exit	Affiliated Managers Group	$0	–	-70,355	–	-1.52%	–
UPS	Exit	United Parcel Service	$0	–	-20,000	–	-1.56%	–
BACPRICL	Exit	Bank of America Pfd I 6.6250%pfd	$0	–	-74,965	–	-1.64%	–
COST	Exit	Costco Wholesale	$0	–	-17,344	–	-1.70%	–
CHSPPRACL	Exit	Chesapeake Lodging Pfd A 7.75%pfd	$0	–	-80,670	–	-1.71%	–
GOOGL	Exit	Google Incorporated	$0	–	-2,291	–	-1.71%	–
FLEX	Exit	Flextronics International	$0	–	-220,761	–	-1.71%	–
XLF	Exit	Financial Select Sector Spdr	$0	–	-101,565	–	-1.72%	–
ORIG	Exit	Ocean Rig UDW Inc.	$0	–	-112,770	–	-1.75%	–
UN	Exit	Unilever N V	$0	–	-54,970	–	-1.77%	–
CSCO	Exit	Cisco Systems	$0	–	-88,611	–	-1.77%	–
FISV	Exit	Fiserv Incorporated	$0	–	-20,703	–	-1.78%	–
CMOPRE	Exit	Capstead Mortgage Pfd E 7.5%pfd	$0	–	-87,980	–	-1.80%	–
BCR	Exit	C.R. Bard, Inc.	$0	–	-19,014	–	-1.87%	–
AL	Exit	Air Lease Corporation	$0	–	-81,188	–	-1.92%	–
JPM	Exit	J.P. Morgan Chase & Company	$0	–	-43,468	–	-1.92%	–
JNJ	Exit	Johnson & Johnson	$0	–	-25,983	–	-1.92%	–
WFT	Exit	Weatherford Intl Ltd	$0	–	-148,155	–	-1.94%	–
CHSP	Exit	Chesapeake Lodging Tust	$0	–	-96,550	–	-1.94%	–
AIG	Exit	American International Group	$0	–	-49,115	–	-2.04%	–
HIG	Exit	Hartford Financial	$0	–	-77,246	–	-2.05%	–
BAC	Exit	Bank Of America	$0	–	-174,725	–	-2.06%	–
URI	Exit	United Rentals Incorporated	$0	–	-41,495	–	-2.06%	–
PLD	Exit	Prologis SBI	$0	–	-65,210	–	-2.09%	–
ESRX	Exit	Express Scripts Holding Co.	$0	–	-39,742	–	-2.10%	–
CTSH	Exit	Congnizant Tech Solutions CL A	$0	–	-30,203	–	-2.12%	–
HPT	Exit	Hospitality Property Trust	$0	–	-91,285	–	-2.20%	–
VWO	Exit	Vanguard Intl Equity Index ETF	$0	–	-66,405	–	-2.27%	–
SLB	Exit	Schlumberger Ltd	$0	–	-32,865	–	-2.48%	–
BKLN	Exit	Powershares ETF Senior Loan	$0	–	-117,765	–	-2.48%	–
QCOM	Exit	Qualcomm Incorporated	$0	–	-43,433	–	-2.50%	–
EMB	Exit	IShares J.P.Morgan EM Bond Fun	$0	–	-27,190	–	-2.53%	–
AMJ	Exit	JPMorgan Alerian MLP Index ETN	$0	–	-67,340	–	-2.56%	–
MET	Exit	Metlife, Incorporated	$0	–	-64,203	–	-2.57%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-35,566	–	-2.80%	–
PFE	Exit	Pfizer	$0	–	-122,135	–	-2.99%	–
HYG	Exit	iShares TR High Yield Corp	$0	–	-40,905	–	-3.20%	–
ONXX	Exit	Onyx Pharmaceuticals	$0	–	-30,803	–	-3.28%	–
AAPL	Exit	Apple Computer Inc	$0	–	-8,129	–	-3.31%	–
FB	Exit	Facebook, Incorpoated CL A	$0	–	-80,460	–	-3.45%	–

Q3 2013

			Value		Shares		↓ Weighting
FB	Sell	Facebook, Incorpoated CL A	$4,042,000	+96.6%	80,460	-2.6%	3.45%	+86.8%
AAPL	Buy	Apple Computer Inc	$3,875,000	+47.1%	8,129	+22.3%	3.31%	+39.8%
ONXX	Sell	Onyx Pharmaceuticals	$3,841,000	+36.7%	30,803	-4.8%	3.28%	+29.9%
HYG	Sell	iShares TR High Yield Corp	$3,746,000	-2.4%	40,905	-3.2%	3.20%	-7.3%
PFE	Sell	Pfizer	$3,508,000	-1.9%	122,135	-4.3%	2.99%	-6.8%
TMO	Sell	Thermo Fisher Scientific Inc.	$3,277,000	+4.7%	35,566	-3.9%	2.80%	-0.5%
MET	Sell	Metlife, Incorporated	$3,014,000	-1.8%	64,203	-4.3%	2.57%	-6.7%
AMJ	Sell	JPMorgan Alerian MLP Index ETN	$3,003,000	-8.3%	67,340	-4.1%	2.56%	-12.9%
EMB	Sell	IShares J.P.Morgan EM Bond Fun	$2,964,000	-4.8%	27,190	-4.3%	2.53%	-9.5%
QCOM	Sell	Qualcomm Incorporated	$2,924,000	+6.8%	43,433	-3.1%	2.50%	+1.5%
BKLN	Sell	Powershares ETF Senior Loan	$2,906,000	-2.4%	117,765	-2.1%	2.48%	-7.2%
SLB	Sell	Schlumberger Ltd	$2,904,000	+20.0%	32,865	-2.6%	2.48%	+14.1%
VWO	Buy	Vanguard Intl Equity Index ETF	$2,665,000	+114.1%	66,405	+107.0%	2.27%	+103.4%
HPT	Sell	Hospitality Property Trust	$2,583,000	+4.8%	91,285	-2.7%	2.20%	-0.4%
CTSH	Sell	Congnizant Tech Solutions CL A	$2,480,000	+26.6%	30,203	-3.4%	2.12%	+20.3%
ESRX	Sell	Express Scripts Holding Co.	$2,456,000	-3.8%	39,742	-3.8%	2.10%	-8.6%
PLD	Sell	Prologis SBI	$2,453,000	-3.7%	65,210	-3.4%	2.09%	-8.5%
URI	New	United Rentals Incorporated	$2,419,000	–	41,495	–	2.06%	–
BAC	Sell	Bank Of America	$2,411,000	+4.7%	174,725	-2.4%	2.06%	-0.5%
HIG	Sell	Hartford Financial	$2,404,000	-2.9%	77,246	-3.6%	2.05%	-7.8%
AIG	Sell	American International Group	$2,388,000	+5.9%	49,115	-2.7%	2.04%	+0.6%
CHSP	Sell	Chesapeake Lodging Tust	$2,273,000	+10.7%	96,550	-2.2%	1.94%	+5.3%
WFT	Sell	Weatherford Intl Ltd	$2,271,000	+10.3%	148,155	-1.4%	1.94%	+4.9%
JNJ	Sell	Johnson & Johnson	$2,252,000	-18.4%	25,983	-19.2%	1.92%	-22.5%
JPM	New	J.P. Morgan Chase & Company	$2,247,000	–	43,468	–	1.92%	–
AL	Sell	Air Lease Corporation	$2,246,000	-2.6%	81,188	-2.9%	1.92%	-7.5%
BCR	Sell	C.R. Bard, Inc.	$2,190,000	+2.2%	19,014	-3.6%	1.87%	-2.9%
CMOPRE	Sell	Capstead Mortgage Pfd E 7.5%pfd	$2,104,000	-3.3%	87,980	-1.4%	1.80%	-8.1%
FISV	Sell	Fiserv Incorporated	$2,092,000	+11.5%	20,703	-3.5%	1.78%	+5.9%
CSCO	Sell	Cisco Systems	$2,076,000	-7.4%	88,611	-3.8%	1.77%	-11.9%
UN	Sell	Unilever N V	$2,073,000	-7.8%	54,970	-3.9%	1.77%	-12.4%
ORIG	New	Ocean Rig UDW Inc.	$2,052,000	–	112,770	–	1.75%	–
XLF	Sell	Financial Select Sector Spdr	$2,022,000	+0.3%	101,565	-2.0%	1.72%	-4.6%
GOOGL	Sell	Google Incorporated	$2,007,000	-3.8%	2,291	-3.3%	1.71%	-8.5%
FLEX	Sell	Flextronics International	$2,007,000	+14.9%	220,761	-2.1%	1.71%	+9.2%
CHSPPRACL	Sell	Chesapeake Lodging Pfd A 7.75%pfd	$2,002,000	-5.6%	80,670	-2.4%	1.71%	-10.3%
COST	Sell	Costco Wholesale	$1,998,000	-0.8%	17,344	-4.8%	1.70%	-5.7%
BACPRICL	Sell	Bank of America Pfd I 6.6250%pfd	$1,920,000	-19.7%	74,965	-18.0%	1.64%	-23.7%
AFMCL	Sell	Affiliated Managers Group	$1,780,000	-3.2%	70,355	-3.2%	1.52%	-8.0%
GE	Sell	General Electric	$1,762,000	-0.1%	73,767	-3.0%	1.50%	-5.1%
ORCL	Sell	Oracle Corporation	$1,758,000	+4.4%	52,988	-3.4%	1.50%	-0.8%
ACN	Sell	Accenture Plc	$1,748,000	-0.5%	23,731	-2.8%	1.49%	-5.4%
SNPS	Sell	Synopsys Incorporated	$1,658,000	+1.8%	43,970	-3.5%	1.42%	-3.2%
CPRQCL	Sell	Citigroup Inc. Pfd Q 6.00%pfd	$1,623,000	-11.9%	65,350	-11.6%	1.38%	-16.3%
EMC	Sell	EMC Corporation	$1,509,000	+4.2%	59,022	-3.7%	1.29%	-0.9%
ZIONO	Buy	Zions Bancorp Pfd G 6.30%pfd	$1,426,000	+8.1%	60,575	+16.9%	1.22%	+2.8%
ABT	Sell	Abbott Laboratories	$984,000	-8.6%	29,636	-4.0%	0.84%	-13.1%
NLYPRD	Buy	Annaly Capital Mgmt Pfd D 7.5%pfd	$425,000	-2.1%	18,135	+2.8%	0.36%	-6.9%
WFCPRN	Sell	Wells Fargo & Co Pfd N 5.2%pfd	$360,000	-18.7%	17,135	-9.5%	0.31%	-22.9%
GSPRA	Buy	Goldman Sachs Pfd A 3.75% Flt.pfd	$360,000	-7.0%	18,030	+1.0%	0.31%	-11.5%
AINV	Buy	Apollo Investment Corporation	$331,000	+13.4%	40,587	+7.6%	0.28%	+7.6%
METPRA	Buy	Metlife Inc Pfd A Flt Ratepfd	$290,000	-4.0%	12,620	+1.8%	0.25%	-8.9%
CORPRACL	Sell	Coresite Realty Pfd A 7.25%pfd	$257,000	-7.6%	10,770	-1.2%	0.22%	-12.4%
JPC	Buy	Nuveen Pfd Income Opportunitiepfd	$227,000	+11.3%	26,191	+22.4%	0.19%	+6.0%
PCYC	New	Pharmacyclics Inc	$207,000	–	1,500	–	0.18%	–
EXEL	New	Exelixis Incorporated	$201,000	–	34,500	–	0.17%	–
	Exit	Enron Corp 6.875%pfd	$0	–	-99,853	–	0.00%	–
GDX	Exit	Market Vectors Gold Miners ETF	$0	–	-40,785	–	-0.90%	–
ABBV	Exit	Abbvie Incorporated	$0	–	-29,656	–	-1.10%	–
VOD	Exit	Vodafone Group	$0	–	-80,990	–	-2.09%	–
HOLX	Exit	Hologic Incorporated	$0	–	-122,590	–	-2.12%	–

Q2 2013

			Value		Shares		↓ Weighting
HYG	New	iShares TR High Yield Corp	$3,840,000	–	42,255	–	3.45%	–
PFE	New	Pfizer	$3,577,000	–	127,688	–	3.21%	–
AMJ	New	JPMorgan Alerian MLP Index ETN	$3,276,000	–	70,245	–	2.94%	–
TMO	New	Thermo Fisher Scientific Inc.	$3,131,000	–	36,993	–	2.81%	–
EMB	New	IShares J.P.Morgan EM Bond Fun	$3,113,000	–	28,425	–	2.80%	–
MET	New	Metlife, Incorporated	$3,070,000	–	67,088	–	2.76%	–
BKLN	New	Powershares ETF Senior Loan	$2,977,000	–	120,270	–	2.67%	–
ONXX	New	Onyx Pharmaceuticals	$2,810,000	–	32,368	–	2.52%	–
JNJ	New	Johnson & Johnson	$2,761,000	–	32,153	–	2.48%	–
QCOM	New	Qualcomm Incorporated	$2,737,000	–	44,810	–	2.46%	–
AAPL	New	Apple Computer Inc	$2,635,000	–	6,646	–	2.37%	–
ESRX	New	Express Scripts Holding Co.	$2,552,000	–	41,327	–	2.29%	–
PLD	New	Prologis SBI	$2,547,000	–	67,537	–	2.29%	–
HIG	New	Hartford Financial	$2,477,000	–	80,096	–	2.22%	–
HPT	New	Hospitality Property Trust	$2,465,000	–	93,780	–	2.21%	–
SLB	New	Schlumberger Ltd	$2,419,000	–	33,752	–	2.17%	–
BACPRICL	New	Bank of America Pfd I 6.6250%pfd	$2,392,000	–	91,415	–	2.15%	–
HOLX	New	Hologic Incorporated	$2,366,000	–	122,590	–	2.12%	–
VOD	New	Vodafone Group	$2,328,000	–	80,990	–	2.09%	–
AL	New	Air Lease Corporation	$2,307,000	–	83,600	–	2.07%	–
BAC	New	Bank Of America	$2,302,000	–	179,020	–	2.07%	–
AIG	New	American International Group	$2,256,000	–	50,465	–	2.03%	–
UN	New	Unilever N V	$2,249,000	–	57,215	–	2.02%	–
CSCO	New	Cisco Systems	$2,241,000	–	92,088	–	2.01%	–
CMOPRE	New	Capstead Mortgagepfd	$2,176,000	–	89,250	–	1.95%	–
BCR	New	C.R. Bard, Inc.	$2,143,000	–	19,714	–	1.92%	–
CHSPPRACL	New	Chesapeake Lodging Pfd A 7.75%pfd	$2,120,000	–	82,665	–	1.90%	–
GOOGL	New	Google Incorporated	$2,086,000	–	2,370	–	1.87%	–
WFT	New	Weatherford Intl Ltd	$2,058,000	–	150,210	–	1.85%	–
FB	New	Facebook, Incorpoated CL A	$2,056,000	–	82,625	–	1.85%	–
CHSP	New	Chesapeake Lodging Tust	$2,053,000	–	98,730	–	1.84%	–
XLF	New	Financial Select Sector Spdr	$2,015,000	–	103,625	–	1.81%	–
COST	New	Costco Wholesale	$2,014,000	–	18,212	–	1.81%	–
CTSH	New	Congnizant Tech Solutions CL A	$1,959,000	–	31,274	–	1.76%	–
FISV	New	Fiserv Incorporated	$1,876,000	–	21,460	–	1.68%	–
CPRQCL	New	Citigroup Inc. Pfd Q 6.00%pfd	$1,843,000	–	73,945	–	1.66%	–
AFMCL	New	Affiliated Managers Group	$1,839,000	–	72,685	–	1.65%	–
GE	New	General Electric	$1,764,000	–	76,076	–	1.58%	–
ACN	New	Accenture Plc	$1,756,000	–	24,408	–	1.58%	–
FLEX	New	Flextronics International	$1,746,000	–	225,596	–	1.57%	–
UPS	New	United Parcel Service	$1,730,000	–	20,000	–	1.55%	–
ORCL	New	Oracle Corporation	$1,684,000	–	54,835	–	1.51%	–
SNPS	New	Synopsys Incorporated	$1,628,000	–	45,548	–	1.46%	–
EMC	New	EMC Corporation	$1,448,000	–	61,302	–	1.30%	–
ZIONO	New	Zions Bancorp Pfd G 6.30%pfd	$1,319,000	–	51,815	–	1.18%	–
VWO	New	Vanguard Intl Equity Index ETF	$1,245,000	–	32,083	–	1.12%	–
ABBV	New	Abbvie Incorporated	$1,226,000	–	29,656	–	1.10%	–
ABT	New	Abbott Laboratories	$1,077,000	–	30,886	–	0.97%	–
GDX	New	Market Vectors Gold Miners ETF	$999,000	–	40,785	–	0.90%	–
WFCPRN	New	Wells Fargo & Co Pfd N 5.2%pfd	$443,000	–	18,935	–	0.40%	–
NLYPRD	New	Annaly Capital Mgmt Pfd D 7.5%pfd	$434,000	–	17,635	–	0.39%	–
GSPRA	New	Goldman Sachs Pfd A 3.75% Flt.pfd	$387,000	–	17,855	–	0.35%	–
METPRA	New	Metlife Inc Pfd A Flt Ratepfd	$302,000	–	12,400	–	0.27%	–
GLD	New	SPDR Gold TR Gold	$295,000	–	2,475	–	0.26%	–
AINV	New	Apollo Investment Corporation	$292,000	–	37,710	–	0.26%	–
CORPRACL	New	Coresite Realty Pfd A 7.25%pfd	$278,000	–	10,905	–	0.25%	–
JPC	New	Nuveen Pfd Income Opportunitiepfd	$204,000	–	21,390	–	0.18%	–
ANAD	New	Anadigics Incorporated	$45,000	–	20,600	–	0.04%	–
	New	Enron Corp 6.875%pfd	$0	–	99,853	–	0.00%	–
IBZT	New	IBIZ Technology	$0	–	22,500	–	0.00%	–

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