WILKINS INVESTMENT COUNSEL INC Activity Q4 2004-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MRK	Sell	Merck	$17,569	-12.7%	170,652	-2.2%	4.75%	-9.7%
PG	Sell	Procter & Gamble	$14,288	-4.0%	97,954	-0.2%	3.86%	-0.6%
BP	Sell	BP PLC	$13,606	+9.0%	351,388	-0.7%	3.68%	+12.8%
ADP	Sell	Automatic Data Processing	$13,546	+6.1%	56,306	-3.1%	3.66%	+9.8%
NVS	Sell	Novartis	$13,339	-0.4%	130,950	-1.4%	3.61%	+3.1%
NEM	Buy	Newmont	$12,980	-11.5%	351,275	+2.2%	3.51%	-8.4%
INTC	Sell	Intel	$12,599	+5.3%	354,401	-1.0%	3.41%	+9.0%
CTVA	Buy	Corteva	$12,446	-7.3%	243,275	+3.9%	3.37%	-4.0%
CB	Sell	Chubb Limited	$12,352	+7.9%	59,334	-0.2%	3.34%	+11.7%
JNJ	Buy	Johnson & Johnson	$11,880	-4.9%	76,276	+1.1%	3.21%	-1.6%
FFIV	Sell	F5 Networks	$10,591	+9.1%	65,723	-1.0%	2.86%	+12.9%
WMB	Sell	Williams Cos	$10,222	+2.7%	303,400	-0.6%	2.76%	+6.3%
PEP	Sell	PepsiCo	$10,024	-8.9%	59,162	-0.4%	2.71%	-5.7%
WY	Buy	Weyerhaeuser	$9,702	-8.4%	316,450	+0.1%	2.62%	-5.2%
DD	Sell	DuPont	$9,630	+3.8%	129,106	-0.6%	2.60%	+7.5%
IFF	Buy	International Flavors & Fragra	$9,592	+3.3%	140,702	+20.6%	2.59%	+6.9%
SLB	Sell	SLB	$9,570	+6.2%	164,150	-10.6%	2.59%	+9.9%
UPS	Sell	United Parcel Service	$9,454	-13.8%	60,656	-0.8%	2.56%	-10.7%
MDT	Buy	Medtronic	$9,096	-9.6%	116,075	+1.7%	2.46%	-6.4%
IBM	Buy	International Business Machine	$9,024	+5.3%	64,320	+0.4%	2.44%	+9.0%
FAST	Sell	Fastenal	$8,633	-7.7%	157,990	-0.4%	2.34%	-4.5%
EMR	Sell	Emerson Electric	$8,446	+6.1%	87,460	-0.7%	2.28%	+9.8%
FTNT	Buy	Fortinet	$8,056	-16.2%	137,290	+7.9%	2.18%	-13.3%
MMM	Buy	3M	$7,556	-3.7%	80,710	+3.0%	2.04%	-0.3%
SYY	Sell	Sysco	$7,541	-12.3%	114,170	-1.4%	2.04%	-9.1%
NTRS	Sell	Northern Trust	$7,521	-6.8%	108,247	-0.6%	2.03%	-3.6%
IT	Sell	Gartner	$6,647	-2.2%	19,345	-0.3%	1.80%	+1.3%
TXN	Buy	Texas Instruments	$6,589	-10.2%	41,440	+1.7%	1.78%	-7.0%
FISV	Sell	Fiserv	$5,515	-11.3%	48,825	-1.0%	1.49%	-8.2%
CL	Buy	Colgate-Palmolive	$5,255	-7.6%	73,895	+0.1%	1.42%	-4.4%
HSY	Sell	Hershey Company	$5,252	-21.4%	26,250	-1.9%	1.42%	-18.7%
ACN	Sell	Accenture	$5,238	-0.8%	17,055	-0.3%	1.42%	+2.8%
SPLK	Sell	Splunk	$5,131	+31.1%	35,083	-4.9%	1.39%	+35.7%
AMT	Buy	American Tower	$5,083	-7.1%	30,910	+9.6%	1.38%	-3.8%
TRMB	Sell	Trimble	$4,493	-21.9%	83,425	-23.3%	1.22%	-19.2%
CHRW	Sell	C. H. Robinson Worldwide	$3,440	-9.3%	39,935	-0.6%	0.93%	-6.1%
PFE	Sell	Pfizer	$3,389	-10.2%	102,161	-0.7%	0.92%	-7.0%
UNP	Buy	Union Pacific	$3,324	+0.4%	16,325	+0.9%	0.90%	+3.9%
XOM	Sell	Exxon Mobil	$2,584	+9.2%	21,975	-0.4%	0.70%	+13.1%
GIS	Sell	General Mills	$2,563	-17.3%	40,060	-0.9%	0.69%	-14.4%
ILMN	New	Illumina	$2,128	–	15,500	–	0.58%	–
V	Sell	Visa	$1,783	-6.2%	7,752	-3.1%	0.48%	-2.8%
ADSK	Buy	Autodesk	$1,638	+2.3%	7,915	+1.2%	0.44%	+6.0%
ANSS	Sell	Ansys	$1,480	-15.5%	4,975	-6.2%	0.40%	-12.7%
CLX	Buy	Clorox	$1,381	-17.4%	10,540	+0.3%	0.37%	-14.4%
NEE	Buy	NextEra Energy	$1,322	-18.2%	23,080	+6.0%	0.36%	-15.2%
CMCSA	Buy	Comcast Corp	$1,131	+8.9%	25,508	+2.0%	0.31%	+12.9%
CSCO	Sell	Cisco Systems	$948	-1.2%	17,638	-4.9%	0.26%	+2.0%
MSFT	Buy	Microsoft	$868	+6.2%	2,749	+14.5%	0.24%	+10.3%
TECH	Buy	Bio-Techne	$847	+11.3%	12,450	+33.5%	0.23%	+15.1%
JPM	Buy	J.P. Morgan Chase	$797	+2.4%	5,498	+2.8%	0.22%	+6.4%
COP	Sell	ConocoPhillips	$691	+14.6%	5,767	-0.9%	0.19%	+18.4%
AAPL	Buy	Apple	$552	+27.8%	3,225	+44.9%	0.15%	+31.9%
KO	Sell	Coca Cola	$543	-8.0%	9,700	-1.0%	0.15%	-4.5%
LLY	Sell	Eli Lilly	$537	-16.5%	1,000	-27.0%	0.14%	-13.7%
APD	Buy	Air Products	$529	+4.3%	1,868	+10.3%	0.14%	+8.3%
PSX	Buy	Phillips 66	$502	+32.1%	4,178	+4.7%	0.14%	+37.4%
DIS	Buy	Walt Disney	$497	-4.1%	6,132	+5.7%	0.13%	-0.7%
AMZN	Buy	Amazon	$467	-1.3%	3,675	+1.4%	0.13%	+1.6%
CVX	Sell	Chevron	$381	+0.5%	2,260	-6.2%	0.10%	+4.0%
HIG	Sell	Hartford Financial	$252	-37.6%	3,559	-36.6%	0.07%	-35.8%
REG	New	Regency Centers Corp	$238	–	4,000	–	0.06%	–
WMT	New	Wal-Mart Stores	$218	–	1,362	–	0.06%	–
ITW	New	Illinois Tool Works	$207	–	900	–	0.06%	–
	Sell	Skillz	$99	-50.0%	19,500	-10.6%	0.03%	-48.1%
SO	Exit	Southern	$0	–	-2,900	–	-0.05%	–
VZ	Exit	Verizon	$0	–	-7,544	–	-0.07%	–
T	Exit	AT&T	$0	–	-39,714	–	-0.16%	–
UBA	Exit	Urstadt Biddle Properties	$0	–	-31,950	–	-0.18%	–

Q2 2023

			Value		Shares		↓ Weighting
MRK	New	Merck	$20,132	–	174,472	–	5.26%	–
PG	New	Procter & Gamble	$14,886	–	98,104	–	3.89%	–
NEM	New	Newmont	$14,665	–	343,775	–	3.83%	–
CTVA	New	Corteva	$13,420	–	234,210	–	3.51%	–
NVS	New	Novartis	$13,396	–	132,750	–	3.50%	–
ADP	New	Automatic Data Processing	$12,771	–	58,107	–	3.34%	–
JNJ	New	Johnson & Johnson	$12,493	–	75,476	–	3.26%	–
BP	New	BP PLC	$12,485	–	353,788	–	3.26%	–
INTC	New	Intel	$11,968	–	357,909	–	3.13%	–
CB	New	Chubb Limited	$11,452	–	59,470	–	2.99%	–
PEP	New	PepsiCo	$11,001	–	59,395	–	2.87%	–
UPS	New	United Parcel Service	$10,962	–	61,156	–	2.86%	–
WY	New	Weyerhaeuser	$10,596	–	316,200	–	2.77%	–
MDT	New	Medtronic	$10,059	–	114,175	–	2.63%	–
WMB	New	Williams Cos	$9,955	–	305,100	–	2.60%	–
FFIV	New	F5 Networks	$9,711	–	66,398	–	2.54%	–
FTNT	New	Fortinet	$9,619	–	127,250	–	2.51%	–
FAST	New	Fastenal	$9,358	–	158,640	–	2.44%	–
IFF	New	International Flavors & Fragra	$9,287	–	116,682	–	2.43%	–
DD	New	DuPont	$9,277	–	129,859	–	2.42%	–
SLB	New	SLB	$9,015	–	183,525	–	2.36%	–
SYY	New	Sysco	$8,594	–	115,820	–	2.24%	–
IBM	New	International Business Machine	$8,573	–	64,070	–	2.24%	–
NTRS	New	Northern Trust	$8,074	–	108,897	–	2.11%	–
EMR	New	Emerson Electric	$7,960	–	88,060	–	2.08%	–
MMM	New	3M	$7,846	–	78,385	–	2.05%	–
TXN	New	Texas Instruments	$7,339	–	40,765	–	1.92%	–
IT	New	Gartner	$6,794	–	19,395	–	1.78%	–
HSY	New	Hershey Company	$6,681	–	26,755	–	1.75%	–
FISV	New	Fiserv	$6,219	–	49,300	–	1.62%	–
TRMB	New	Trimble	$5,756	–	108,725	–	1.50%	–
CL	New	Colgate-Palmolive	$5,687	–	73,820	–	1.49%	–
AMT	New	American Tower	$5,469	–	28,200	–	1.43%	–
ACN	New	Accenture	$5,278	–	17,105	–	1.38%	–
SPLK	New	Splunk	$3,915	–	36,903	–	1.02%	–
CHRW	New	C. H. Robinson Worldwide	$3,791	–	40,185	–	0.99%	–
PFE	New	Pfizer	$3,773	–	102,849	–	0.99%	–
UNP	New	Union Pacific	$3,310	–	16,175	–	0.86%	–
GIS	New	General Mills	$3,099	–	40,410	–	0.81%	–
XOM	New	Exxon Mobil	$2,366	–	22,060	–	0.62%	–
V	New	Visa	$1,900	–	8,002	–	0.50%	–
ANSS	New	Ansys	$1,752	–	5,305	–	0.46%	–
CLX	New	Clorox	$1,672	–	10,511	–	0.44%	–
NEE	New	NextEra Energy	$1,616	–	21,780	–	0.42%	–
ADSK	New	Autodesk	$1,601	–	7,825	–	0.42%	–
	New	Berkshire Hathaway Class A (3	$1,553	–	300	–	0.41%	–
STT	New	State Street	$1,354	–	18,500	–	0.35%	–
	New	Aspen Technology	$1,056	–	6,300	–	0.28%	–
CMCSA	New	Comcast Corp	$1,039	–	25,000	–	0.27%	–
CSCO	New	Cisco Systems	$960	–	18,550	–	0.25%	–
MSFT	New	Microsoft	$817	–	2,400	–	0.21%	–
JPM	New	J.P. Morgan Chase	$778	–	5,348	–	0.20%	–
TECH	New	Bio-Techne	$761	–	9,325	–	0.20%	–
UBA	New	Urstadt Biddle Properties	$679	–	31,950	–	0.18%	–
LLY	New	Eli Lilly	$643	–	1,370	–	0.17%	–
T	New	AT&T	$633	–	39,714	–	0.16%	–
COP	New	ConocoPhillips	$603	–	5,817	–	0.16%	–
KO	New	Coca Cola	$590	–	9,800	–	0.15%	–
DIS	New	Walt Disney	$518	–	5,800	–	0.14%	–
APD	New	Air Products	$507	–	1,694	–	0.13%	–
AMZN	New	Amazon	$473	–	3,625	–	0.12%	–
SHW	New	Sherwin Williams	$451	–	1,700	–	0.12%	–
AAPL	New	Apple	$432	–	2,225	–	0.11%	–
HIG	New	Hartford Financial	$404	–	5,614	–	0.11%	–
NSC	New	Norfolk Southern	$385	–	1,700	–	0.10%	–
DOW	New	Dow	$380	–	7,134	–	0.10%	–
PSX	New	Phillips 66	$380	–	3,989	–	0.10%	–
CVX	New	Chevron	$379	–	2,410	–	0.10%	–
DUK	New	Duke Energy	$370	–	4,121	–	0.10%	–
ORCL	New	Oracle	$345	–	2,900	–	0.09%	–
VZ	New	Verizon	$281	–	7,544	–	0.07%	–
SO	New	Southern	$204	–	2,900	–	0.05%	–
	New	Skillz	$198	–	21,800	–	0.05%	–

Q4 2022

			Value		Shares		↓ Weighting
ORCL	Exit	Oracle	$0	–	-3,300	–	-0.06%	–
ES	Exit	Eversource Energy	$0	–	-3,000	–	-0.07%	–
VZ	Exit	Verizon	$0	–	-7,544	–	-0.08%	–
PSX	Exit	Phillips 66	$0	–	-3,989	–	-0.09%	–
SHW	Exit	Sherwin Williams	$0	–	-1,700	–	-0.10%	–
NSC	Exit	Norfolk Southern	$0	–	-1,700	–	-0.10%	–
CVX	Exit	Chevron	$0	–	-2,485	–	-0.10%	–
AAPL	Exit	Apple	$0	–	-2,639	–	-0.11%	–
DOW	Exit	Dow	$0	–	-8,467	–	-0.11%	–
DUK	Exit	Duke Energy	$0	–	-4,121	–	-0.11%	–
APD	Exit	Air Products	$0	–	-1,694	–	-0.12%	–
HIG	Exit	Hartford Financial	$0	–	-6,864	–	-0.12%	–
SKLZ	Exit	Skillz	$0	–	-436,000	–	-0.13%	–
UBA	Exit	Urstadt Biddle Properties	$0	–	-31,950	–	-0.14%	–
AMZN	Exit	Amazon	$0	–	-4,585	–	-0.15%	–
LLY	Exit	Eli Lilly	$0	–	-1,650	–	-0.16%	–
DIS	Exit	Walt Disney	$0	–	-5,800	–	-0.16%	–
KO	Exit	Coca Cola	$0	–	-10,200	–	-0.17%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-5,498	–	-0.17%	–
T	Exit	AT&T	$0	–	-39,714	–	-0.18%	–
COP	Exit	ConocoPhillips	$0	–	-6,117	–	-0.18%	–
MSFT	Exit	Microsoft	$0	–	-2,700	–	-0.18%	–
CMCSA	Exit	Comcast Corp	$0	–	-25,000	–	-0.21%	–
CSCO	Exit	Cisco Systems	$0	–	-20,450	–	-0.24%	–
STT	Exit	State Street	$0	–	-18,000	–	-0.32%	–
	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.36%	–
MMC	Exit	Marsh & McLennan	$0	–	-8,240	–	-0.36%	–
ANSS	Exit	Ansys	$0	–	-5,805	–	-0.38%	–
CLX	Exit	Clorox	$0	–	-10,311	–	-0.39%	–
HD	Exit	Home Depot	$0	–	-4,910	–	-0.40%	–
ADSK	Exit	Autodesk	$0	–	-7,712	–	-0.42%	–
V	Exit	Visa	$0	–	-8,243	–	-0.43%	–
	Exit	Aspen Technology	$0	–	-7,190	–	-0.50%	–
NEE	Exit	NextEra Energy	$0	–	-22,880	–	-0.52%	–
XOM	Exit	Exxon Mobil	$0	–	-22,739	–	-0.58%	–
SPLK	Exit	Splunk	$0	–	-34,601	–	-0.76%	–
UNP	Exit	Union Pacific	$0	–	-15,325	–	-0.87%	–
GIS	Exit	General Mills	$0	–	-47,910	–	-1.07%	–
CHRW	Exit	C. H. Robinson Worldwide	$0	–	-40,885	–	-1.15%	–
ACN	Exit	Accenture	$0	–	-17,105	–	-1.29%	–
FISV	Exit	Fiserv	$0	–	-49,500	–	-1.36%	–
PFE	Exit	Pfizer	$0	–	-109,964	–	-1.41%	–
CL	Exit	Colgate-Palmolive	$0	–	-72,420	–	-1.49%	–
IT	Exit	Gartner	$0	–	-19,645	–	-1.59%	–
FTNT	Exit	Fortinet	$0	–	-124,945	–	-1.80%	–
AMT	Exit	American Tower	$0	–	-28,825	–	-1.81%	–
TXN	Exit	Texas Instruments	$0	–	-40,275	–	-1.82%	–
EMR	Exit	Emerson Electric	$0	–	-87,500	–	-1.88%	–
TRMB	Exit	Trimble	$0	–	-120,430	–	-1.91%	–
IBM	Exit	International Business Machine	$0	–	-57,195	–	-1.99%	–
HSY	Exit	Hershey Company	$0	–	-30,863	–	-1.99%	–
DD	Exit	DuPont	$0	–	-136,304	–	-2.01%	–
FAST	Exit	Fastenal	$0	–	-157,840	–	-2.13%	–
SLB	Exit	SLB	$0	–	-210,525	–	-2.21%	–
WY	Exit	Weyerhaeuser	$0	–	-283,185	–	-2.37%	–
MMM	Exit	3M	$0	–	-74,937	–	-2.42%	–
SYY	Exit	Sysco	$0	–	-118,645	–	-2.46%	–
MDT	Exit	Medtronic PLC	$0	–	-104,130	–	-2.46%	–
INTC	Exit	Intel	$0	–	-327,833	–	-2.47%	–
WMB	Exit	Williams Cos	$0	–	-297,725	–	-2.49%	–
NTRS	Exit	Northern Trust	$0	–	-99,697	–	-2.50%	–
IFF	Exit	International Flavors & Fragra	$0	–	-94,162	–	-2.50%	–
FFIV	Exit	F5 Networks	$0	–	-63,047	–	-2.67%	–
BP	Exit	BP PLC	$0	–	-348,656	–	-2.91%	–
UPS	Exit	United Parcel Service	$0	–	-62,087	–	-2.94%	–
PEP	Exit	PepsiCo	$0	–	-61,574	–	-2.94%	–
NVS	Exit	Novartis	$0	–	-133,785	–	-2.98%	–
CB	Exit	Chubb Limited	$0	–	-60,211	–	-3.20%	–
JNJ	Exit	Johnson & Johnson	$0	–	-75,212	–	-3.60%	–
PG	Exit	Procter & Gamble	$0	–	-99,479	–	-3.68%	–
ADP	Exit	Automatic Data Processing	$0	–	-59,217	–	-3.92%	–
CTVA	Exit	Corteva	$0	–	-238,224	–	-3.98%	–
NEM	Exit	Newmont	$0	–	-327,320	–	-4.02%	–
MRK	Exit	Merck	$0	–	-200,024	–	-5.04%	–

Q3 2022

			Value		Shares		↓ Weighting
MRK	Sell	Merck	$17,226,000	-6.8%	200,024	-1.3%	5.04%	+2.8%
NEM	Buy	Newmont	$13,757,000	-27.4%	327,320	+3.0%	4.02%	-20.0%
CTVA	Sell	Corteva	$13,615,000	+4.4%	238,224	-1.1%	3.98%	+15.2%
ADP	Sell	Automatic Data Processing	$13,394,000	+4.9%	59,217	-2.6%	3.92%	+15.7%
PG	Sell	Procter & Gamble	$12,559,000	-12.6%	99,479	-0.4%	3.68%	-3.5%
CB	Sell	Chubb Limited	$10,951,000	-7.5%	60,211	-0.1%	3.20%	+2.0%
NVS	Buy	Novartis	$10,169,000	-9.5%	133,785	+0.6%	2.98%	-0.2%
PEP	Sell	PepsiCo	$10,053,000	-2.2%	61,574	-0.1%	2.94%	+7.9%
UPS	Sell	United Parcel Service	$10,030,000	-11.8%	62,087	-0.3%	2.94%	-2.7%
BP	Buy	BP PLC	$9,954,000	+1.8%	348,656	+1.1%	2.91%	+12.3%
FFIV	Sell	F5 Networks	$9,125,000	-6.4%	63,047	-1.0%	2.67%	+3.2%
IFF	Buy	International Flavors & Fragra	$8,553,000	-20.5%	94,162	+4.3%	2.50%	-12.2%
WMB	Buy	Williams Cos	$8,524,000	-5.7%	297,725	+2.8%	2.49%	+4.0%
INTC	Buy	Intel	$8,448,000	-22.2%	327,833	+12.9%	2.47%	-14.2%
MDT	Buy	Medtronic PLC	$8,408,000	-7.6%	104,130	+2.7%	2.46%	+1.9%
SYY	Sell	Sysco	$8,389,000	-16.6%	118,645	-0.1%	2.46%	-8.1%
MMM	Buy	3M	$8,281,000	-12.0%	74,937	+3.1%	2.42%	-2.9%
WY	Buy	Weyerhaeuser	$8,088,000	-12.5%	283,185	+1.5%	2.37%	-3.5%
SLB	Sell	SLB	$7,558,000	-2.6%	210,525	-3.0%	2.21%	+7.5%
FAST	Buy	Fastenal	$7,267,000	-7.0%	157,840	+0.8%	2.13%	+2.6%
DD	Sell	DuPont	$6,870,000	-15.5%	136,304	-6.8%	2.01%	-6.8%
HSY	Sell	Hershey Company	$6,804,000	-1.8%	30,863	-4.2%	1.99%	+8.3%
IBM	Buy	International Business Machine	$6,795,000	-11.5%	57,195	+5.2%	1.99%	-2.4%
TRMB	Sell	Trimble	$6,536,000	-6.9%	120,430	-0.1%	1.91%	+2.6%
EMR	Buy	Emerson Electric	$6,407,000	-7.8%	87,500	+0.1%	1.88%	+1.7%
TXN	Buy	Texas Instruments	$6,234,000	+9.7%	40,275	+8.9%	1.82%	+21.0%
AMT	Sell	American Tower	$6,189,000	-16.1%	28,825	-0.2%	1.81%	-7.5%
FTNT	Buy	Fortinet	$6,139,000	-12.1%	124,945	+1.2%	1.80%	-3.1%
IT	Sell	Gartner	$5,436,000	+11.6%	19,645	-2.5%	1.59%	+23.1%
CL	Sell	Colgate-Palmolive	$5,088,000	-12.7%	72,420	-0.4%	1.49%	-3.7%
FISV	Sell	Fiserv	$4,632,000	+3.5%	49,500	-1.6%	1.36%	+14.2%
ACN	Sell	Accenture	$4,401,000	-7.4%	17,105	-0.1%	1.29%	+2.1%
CHRW	Sell	C. H. Robinson Worldwide	$3,938,000	-5.7%	40,885	-0.7%	1.15%	+4.1%
UNP	Sell	Union Pacific	$2,986,000	-8.9%	15,325	-0.3%	0.87%	+0.5%
SPLK	Sell	Splunk	$2,602,000	-50.0%	34,601	-41.1%	0.76%	-44.8%
XOM	Sell	Exxon Mobil	$1,985,000	+1.3%	22,739	-0.7%	0.58%	+11.7%
NEE	Sell	NextEra Energy	$1,794,000	+0.1%	22,880	-1.1%	0.52%	+10.5%
	Sell	Aspen Technology	$1,713,000	+27.5%	7,190	-1.7%	0.50%	+40.3%
V	Sell	Visa	$1,464,000	-22.9%	8,243	-14.5%	0.43%	-15.1%
ADSK	Sell	Autodesk	$1,441,000	+0.3%	7,712	-7.7%	0.42%	+10.8%
JPM	Sell	J.P. Morgan Chase	$575,000	-14.2%	5,498	-7.7%	0.17%	-5.6%
KO	Sell	Coca Cola	$571,000	-11.5%	10,200	-0.5%	0.17%	-2.3%
LLY	Sell	Eli Lilly	$534,000	-15.5%	1,650	-15.4%	0.16%	-7.1%
AMZN	Sell	Amazon	$518,000	-24.5%	4,585	-29.0%	0.15%	-16.5%
HIG	Sell	Hartford Financial	$425,000	-22.7%	6,864	-18.3%	0.12%	-15.1%
DOW	Sell	Dow	$372,000	-17.5%	8,467	-3.1%	0.11%	-9.2%
AAPL	Sell	Apple	$365,000	-0.5%	2,639	-1.6%	0.11%	+10.3%
CVX	Sell	Chevron	$357,000	-1.7%	2,485	-1.0%	0.10%	+8.3%
SO	Exit	Southern	$0	–	-2,900	–	-0.06%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-2,800	–	-0.06%	–

Q2 2022

			Value		Shares		↓ Weighting
NEM	New	Newmont	$18,956,000	–	317,675	–	5.03%	–
MRK	New	Merck	$18,482,000	–	202,719	–	4.90%	–
PG	New	Procter & Gamble	$14,362,000	–	99,879	–	3.81%	–
JNJ	New	Johnson & Johnson	$13,351,000	–	75,212	–	3.54%	–
CTVA	New	Corteva	$13,036,000	–	240,790	–	3.46%	–
ADP	New	Automatic Data Processing	$12,764,000	–	60,770	–	3.39%	–
CB	New	Chubb Limited	$11,844,000	–	60,251	–	3.14%	–
UPS	New	United Parcel Service	$11,373,000	–	62,302	–	3.02%	–
NVS	New	Novartis	$11,238,000	–	132,947	–	2.98%	–
INTC	New	Intel	$10,862,000	–	290,358	–	2.88%	–
IFF	New	International Flavors & Fragra	$10,752,000	–	90,262	–	2.85%	–
PEP	New	PepsiCo	$10,274,000	–	61,649	–	2.73%	–
SYY	New	Sysco	$10,063,000	–	118,795	–	2.67%	–
BP	New	BP PLC	$9,778,000	–	344,888	–	2.59%	–
FFIV	New	F5 Networks	$9,750,000	–	63,712	–	2.59%	–
NTRS	New	Northern Trust	$9,619,000	–	99,697	–	2.55%	–
MMM	New	3M	$9,407,000	–	72,690	–	2.50%	–
WY	New	Weyerhaeuser	$9,242,000	–	279,035	–	2.45%	–
MDT	New	Medtronic PLC	$9,099,000	–	101,381	–	2.41%	–
WMB	New	Williams Cos	$9,039,000	–	289,625	–	2.40%	–
DD	New	DuPont	$8,130,000	–	146,275	–	2.16%	–
FAST	New	Fastenal	$7,814,000	–	156,540	–	2.07%	–
SLB	New	Schlumberger	$7,759,000	–	216,975	–	2.06%	–
IBM	New	International Business Machine	$7,679,000	–	54,385	–	2.04%	–
AMT	New	American Tower	$7,380,000	–	28,875	–	1.96%	–
TRMB	New	Trimble	$7,021,000	–	120,580	–	1.86%	–
FTNT	New	Fortinet	$6,986,000	–	123,470	–	1.85%	–
EMR	New	Emerson Electric	$6,950,000	–	87,375	–	1.84%	–
HSY	New	Hershey Company	$6,929,000	–	32,203	–	1.84%	–
CL	New	Colgate-Palmolive	$5,830,000	–	72,745	–	1.55%	–
PFE	New	Pfizer	$5,765,000	–	109,964	–	1.53%	–
TXN	New	Texas Instruments	$5,684,000	–	36,995	–	1.51%	–
SPLK	New	Splunk	$5,200,000	–	58,781	–	1.38%	–
IT	New	Gartner	$4,872,000	–	20,145	–	1.29%	–
ACN	New	Accenture	$4,753,000	–	17,120	–	1.26%	–
FISV	New	Fiserv	$4,474,000	–	50,285	–	1.19%	–
CHRW	New	C. H. Robinson Worldwide	$4,174,000	–	41,175	–	1.11%	–
GIS	New	General Mills	$3,615,000	–	47,910	–	0.96%	–
UNP	New	Union Pacific	$3,279,000	–	15,375	–	0.87%	–
XOM	New	Exxon Mobil	$1,960,000	–	22,889	–	0.52%	–
V	New	Visa	$1,899,000	–	9,643	–	0.50%	–
NEE	New	NextEra Energy	$1,792,000	–	23,130	–	0.48%	–
CLX	New	Clorox	$1,454,000	–	10,311	–	0.39%	–
ADSK	New	Autodesk	$1,437,000	–	8,358	–	0.38%	–
ANSS	New	Ansys	$1,389,000	–	5,805	–	0.37%	–
HD	New	Home Depot	$1,347,000	–	4,910	–	0.36%	–
	New	Aspen Technology	$1,344,000	–	7,316	–	0.36%	–
MMC	New	Marsh & McLennan	$1,279,000	–	8,240	–	0.34%	–
	New	Berkshire Hathaway Class A (3	$1,227,000	–	300	–	0.33%	–
STT	New	State Street	$1,110,000	–	18,000	–	0.29%	–
CMCSA	New	Comcast Corp	$981,000	–	25,000	–	0.26%	–
CSCO	New	Cisco Systems	$872,000	–	20,450	–	0.23%	–
T	New	AT&T	$832,000	–	39,714	–	0.22%	–
MSFT	New	Microsoft	$693,000	–	2,700	–	0.18%	–
AMZN	New	Amazon	$686,000	–	6,460	–	0.18%	–
JPM	New	J.P. Morgan Chase	$670,000	–	5,954	–	0.18%	–
KO	New	Coca Cola	$645,000	–	10,250	–	0.17%	–
LLY	New	Eli Lilly	$632,000	–	1,950	–	0.17%	–
HIG	New	Hartford Financial	$550,000	–	8,400	–	0.15%	–
COP	New	ConocoPhillips	$549,000	–	6,117	–	0.15%	–
DIS	New	Walt Disney	$548,000	–	5,800	–	0.14%	–
SKLZ	New	Skillz	$541,000	–	436,000	–	0.14%	–
UBA	New	Urstadt Biddle Properties	$518,000	–	31,950	–	0.14%	–
DOW	New	Dow	$451,000	–	8,734	–	0.12%	–
DUK	New	Duke Energy	$442,000	–	4,121	–	0.12%	–
APD	New	Air Products	$407,000	–	1,694	–	0.11%	–
NSC	New	Norfolk Southern	$386,000	–	1,700	–	0.10%	–
VZ	New	Verizon	$383,000	–	7,544	–	0.10%	–
SHW	New	Sherwin Williams	$381,000	–	1,700	–	0.10%	–
AAPL	New	Apple Computer	$367,000	–	2,682	–	0.10%	–
CVX	New	Chevron	$363,000	–	2,510	–	0.10%	–
PSX	New	Phillips 66	$327,000	–	3,989	–	0.09%	–
ES	New	Eversource Energy	$253,000	–	3,000	–	0.07%	–
ORCL	New	Oracle	$231,000	–	3,300	–	0.06%	–
BMY	New	Bristol-Myers Squibb	$216,000	–	2,800	–	0.06%	–
SO	New	Southern	$207,000	–	2,900	–	0.06%	–

Q4 2021

			Value		Shares		↓ Weighting
SWK	Exit	Stanley Black & Decker	$0	–	-1,200	–	-0.05%	–
AAPL	Exit	Apple Computer	$0	–	-1,882	–	-0.06%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-5,900	–	-0.07%	–
ORCL	Exit	Oracle	$0	–	-3,300	–	-0.07%	–
ES	Exit	Eversource Energy	$0	–	-3,500	–	-0.07%	–
CVX	Exit	Chevron	$0	–	-3,010	–	-0.08%	–
PSX	Exit	Phillips 66	$0	–	-5,070	–	-0.09%	–
AMGN	Exit	Amgen	$0	–	-1,800	–	-0.09%	–
K	Exit	Kellogg Company	$0	–	-6,224	–	-0.10%	–
DUK	Exit	Duke Energy	$0	–	-4,121	–	-0.10%	–
NSC	Exit	Norfolk Southern	$0	–	-1,700	–	-0.10%	–
COP	Exit	ConocoPhillips	$0	–	-6,117	–	-0.10%	–
VZ	Exit	Verizon	$0	–	-7,644	–	-0.10%	–
APD	Exit	Air Products	$0	–	-1,694	–	-0.11%	–
LLY	Exit	Eli Lilly	$0	–	-2,050	–	-0.12%	–
AMZN	Exit	Amazon.Com	$0	–	-155	–	-0.12%	–
DOW	Exit	Dow	$0	–	-8,934	–	-0.13%	–
SHW	Exit	Sherwin Williams	$0	–	-2,100	–	-0.14%	–
HIG	Exit	Hartford Financial	$0	–	-8,400	–	-0.14%	–
UBA	Exit	Urstadt Biddle Properties	$0	–	-31,950	–	-0.15%	–
MSFT	Exit	Microsoft	$0	–	-2,825	–	-0.20%	–
DIS	Exit	Walt Disney	$0	–	-5,800	–	-0.24%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-6,354	–	-0.25%	–
CSCO	Exit	Cisco Systems	$0	–	-19,750	–	-0.26%	–
	Exit	1/100 Berkshire Htwy Cla 100 S	$0	–	-300	–	-0.30%	–
MMC	Exit	Marsh & McLennan	$0	–	-8,240	–	-0.30%	–
IBM	Exit	International Business Machine	$0	–	-9,300	–	-0.32%	–
XOM	Exit	Exxon Mobil	$0	–	-23,339	–	-0.34%	–
CMCSA	Exit	Comcast Corp	$0	–	-25,000	–	-0.34%	–
KO	Exit	Coca Cola	$0	–	-26,750	–	-0.34%	–
STT	Exit	State Street	$0	–	-18,000	–	-0.37%	–
T	Exit	AT&T	$0	–	-64,907	–	-0.43%	–
CLX	Exit	Clorox	$0	–	-10,711	–	-0.43%	–
HD	Exit	Home Depot	$0	–	-5,690	–	-0.46%	–
NEE	Exit	NextEra Energy	$0	–	-27,180	–	-0.52%	–
ANSS	Exit	Ansys	$0	–	-7,945	–	-0.66%	–
UNP	Exit	Union Pacific	$0	–	-16,000	–	-0.77%	–
GIS	Exit	General Mills	$0	–	-52,735	–	-0.77%	–
ADSK	Exit	Autodesk	$0	–	-11,454	–	-0.80%	–
CHRW	Exit	C. H. Robinson Worldwide	$0	–	-41,940	–	-0.89%	–
CERN	Exit	Cerner Corp	$0	–	-68,120	–	-1.17%	–
PFE	Exit	Pfizer	$0	–	-114,771	–	-1.21%	–
TXN	Exit	Texas Instruments	$0	–	-27,755	–	-1.30%	–
AZPN	Exit	Aspen Technology	$0	–	-45,205	–	-1.36%	–
SKLZ	Exit	Skillz	$0	–	-572,000	–	-1.37%	–
CL	Exit	Colgate-Palmolive	$0	–	-75,205	–	-1.39%	–
IT	Exit	Gartner	$0	–	-20,630	–	-1.53%	–
FTNT	Exit	Fortinet	$0	–	-24,703	–	-1.76%	–
ACN	Exit	Accenture	$0	–	-22,885	–	-1.79%	–
WMB	Exit	Williams Cos	$0	–	-293,150	–	-1.86%	–
SPLK	Exit	Splunk	$0	–	-53,910	–	-1.91%	–
AMT	Exit	American Tower	$0	–	-30,373	–	-1.97%	–
HSY	Exit	Hershey Company	$0	–	-48,774	–	-2.02%	–
SLB	Exit	Schlumberger	$0	–	-289,650	–	-2.10%	–
EMR	Exit	Emerson Electric	$0	–	-91,975	–	-2.12%	–
FAST	Exit	Fastenal	$0	–	-184,400	–	-2.33%	–
DD	Exit	DuPont	$0	–	-142,991	–	-2.38%	–
PEP	Exit	PepsiCo	$0	–	-64,852	–	-2.38%	–
WY	Exit	Weyerhaeuser	$0	–	-282,360	–	-2.45%	–
BP	Exit	BP PLC	$0	–	-367,988	–	-2.46%	–
MMM	Exit	3M	$0	–	-58,147	–	-2.49%	–
SYY	Exit	Sysco	$0	–	-133,335	–	-2.56%	–
CTVA	Exit	Corteva	$0	–	-252,115	–	-2.59%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-130,590	–	-2.61%	–
TRMB	Exit	Trimble	$0	–	-132,880	–	-2.67%	–
CB	Exit	Chubb Limited	$0	–	-63,147	–	-2.68%	–
NTRS	Exit	Northern Trust	$0	–	-105,047	–	-2.77%	–
MDT	Exit	Medtronic PLC	$0	–	-91,675	–	-2.81%	–
UPS	Exit	United Parcel Service	$0	–	-64,887	–	-2.89%	–
IFF	Exit	International Flavors & Fragra	$0	–	-89,727	–	-2.93%	–
JNJ	Exit	Johnson & Johnson	$0	–	-76,269	–	-3.01%	–
FFIV	Exit	F5 Networks	$0	–	-64,104	–	-3.11%	–
ADP	Exit	Automatic Data Processing	$0	–	-67,930	–	-3.32%	–
INTC	Exit	Intel	$0	–	-278,473	–	-3.63%	–
MRK	Exit	Merck	$0	–	-203,132	–	-3.73%	–
PG	Exit	Procter & Gamble	$0	–	-109,616	–	-3.74%	–
NEM	Exit	Newmont	$0	–	-349,600	–	-4.64%	–

Q3 2021

			Value		Shares		↓ Weighting
NEM	Sell	Newmont	$18,983,000	-14.6%	349,600	-0.3%	4.64%	-15.1%
PG	Sell	Procter & Gamble	$15,324,000	+2.0%	109,616	-1.5%	3.74%	+1.4%
MRK	Buy	Merck	$15,257,000	-1.7%	203,132	+1.8%	3.73%	-2.3%
INTC	Buy	Intel	$14,837,000	-1.8%	278,473	+3.5%	3.63%	-2.4%
ADP	Sell	Automatic Data Processing	$13,581,000	-1.6%	67,930	-2.3%	3.32%	-2.2%
FFIV	Sell	F5 Networks	$12,743,000	+6.4%	64,104	-0.1%	3.11%	+5.7%
JNJ	Sell	Johnson & Johnson	$12,317,000	-2.1%	76,269	-0.2%	3.01%	-2.7%
IFF	Sell	International Flavors & Fragra	$11,998,000	-11.1%	89,727	-0.7%	2.93%	-11.7%
UPS	Sell	United Parcel Service	$11,816,000	-13.8%	64,887	-1.5%	2.89%	-14.3%
MDT	Buy	Medtronic PLC	$11,491,000	+1.4%	91,675	+0.4%	2.81%	+0.7%
NTRS	Sell	Northern Trust	$11,325,000	-7.8%	105,047	-1.2%	2.77%	-8.4%
CB	Sell	Chubb Limited	$10,955,000	+8.5%	63,147	-0.6%	2.68%	+7.8%
TRMB	Sell	Trimble	$10,929,000	-9.2%	132,880	-9.6%	2.67%	-9.8%
NVS	Buy	Novartis AG (ADR)	$10,680,000	-8.7%	130,590	+1.9%	2.61%	-9.2%
CTVA	Buy	Corteva	$10,609,000	+1.6%	252,115	+7.1%	2.59%	+1.0%
SYY	Sell	Sysco	$10,467,000	+0.1%	133,335	-0.8%	2.56%	-0.5%
MMM	Buy	3M	$10,200,000	-9.0%	58,147	+3.1%	2.49%	-9.6%
BP	Buy	BP PLC	$10,057,000	+9.6%	367,988	+5.9%	2.46%	+8.9%
WY	Buy	Weyerhaeuser	$10,044,000	+8.5%	282,360	+5.0%	2.45%	+7.8%
PEP	Sell	PepsiCo	$9,754,000	+0.5%	64,852	-1.0%	2.38%	-0.2%
DD	Buy	DuPont	$9,722,000	-5.8%	142,991	+7.2%	2.38%	-6.4%
FAST	Sell	Fastenal	$9,517,000	-3.8%	184,400	-3.1%	2.33%	-4.4%
EMR	Sell	Emerson Electric	$8,664,000	-3.6%	91,975	-1.5%	2.12%	-4.2%
SLB	Sell	Schlumberger	$8,585,000	-14.5%	289,650	-7.6%	2.10%	-15.0%
HSY	Sell	Hershey Company	$8,255,000	-5.5%	48,774	-2.7%	2.02%	-6.1%
AMT	Sell	American Tower	$8,061,000	-2.1%	30,373	-0.3%	1.97%	-2.7%
SPLK	Buy	Splunk	$7,801,000	+710.1%	53,910	+709.5%	1.91%	+704.2%
WMB	Sell	Williams Cos	$7,604,000	-2.4%	293,150	-0.1%	1.86%	-3.0%
ACN	Sell	Accenture	$7,321,000	-13.0%	22,885	-19.8%	1.79%	-13.5%
FTNT	Buy	Fortinet	$7,214,000	+32.1%	24,703	+7.8%	1.76%	+31.3%
IT	Buy	Gartner	$6,269,000	+102.2%	20,630	+61.1%	1.53%	+100.8%
CL	Sell	Colgate-Palmolive	$5,684,000	-7.2%	75,205	-0.1%	1.39%	-7.8%
SKLZ	New	Skillz	$5,617,000	–	572,000	–	1.37%	–
AZPN	Sell	Aspen Technology	$5,551,000	-11.5%	45,205	-0.8%	1.36%	-12.1%
TXN	Sell	Texas Instruments	$5,335,000	-0.9%	27,755	-0.9%	1.30%	-1.5%
CERN	Buy	Cerner Corp	$4,804,000	-4.9%	68,120	+5.4%	1.17%	-5.5%
CHRW	Buy	C. H. Robinson Worldwide	$3,649,000	+19.8%	41,940	+29.0%	0.89%	+19.1%
ADSK	Buy	Autodesk	$3,266,000	+40.4%	11,454	+43.7%	0.80%	+39.5%
GIS	Sell	General Mills	$3,155,000	-11.5%	52,735	-9.8%	0.77%	-12.0%
T	Sell	AT&T	$1,753,000	-22.7%	64,907	-17.7%	0.43%	-23.3%
XOM	Sell	Exxon Mobil	$1,373,000	-8.3%	23,339	-1.7%	0.34%	-8.7%
IBM	Sell	International Business Machine	$1,292,000	-6.0%	9,300	-0.7%	0.32%	-6.5%
	New	1/100 Berkshire Htwy Cla 100 S	$1,234,000	–	300	–	0.30%	–
JPM	Sell	J.P. Morgan Chase	$1,040,000	+3.2%	6,354	-1.9%	0.25%	+2.4%
DOW	Sell	Dow	$514,000	-26.3%	8,934	-18.8%	0.13%	-26.3%
AMZN	Buy	Amazon.Com	$509,000	+124.2%	155	+134.8%	0.12%	+121.4%
LLY	Sell	Eli Lilly	$474,000	-17.4%	2,050	-18.0%	0.12%	-17.7%
VZ	Sell	Verizon	$413,000	-70.1%	7,644	-69.0%	0.10%	-70.3%
DUK	New	Duke Energy	$402,000	–	4,121	–	0.10%	–
WBA	Sell	Walgreens Boots Alliance	$278,000	-28.5%	5,900	-20.3%	0.07%	-29.2%
NKE	Exit	Nike Inc. Cl B	$0	–	-1,374	–	-0.05%	–
DUK	Exit	Duke Energy	$0	–	-4,121	–	-0.10%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.31%	–

Q2 2021

			Value		Shares		↓ Weighting
NEM	New	Newmont	$22,232,000	–	350,775	–	5.47%	–
MRK	New	Merck	$15,520,000	–	199,557	–	3.82%	–
INTC	New	Intel	$15,107,000	–	269,098	–	3.72%	–
PG	New	Procter & Gamble	$15,020,000	–	111,318	–	3.69%	–
ADP	New	Automatic Data Processing	$13,807,000	–	69,516	–	3.40%	–
UPS	New	United Parcel Service	$13,703,000	–	65,887	–	3.37%	–
IFF	New	International Flavors & Fragra	$13,499,000	–	90,352	–	3.32%	–
JNJ	New	Johnson & Johnson	$12,585,000	–	76,391	–	3.10%	–
NTRS	New	Northern Trust	$12,287,000	–	106,272	–	3.02%	–
TRMB	New	Trimble	$12,035,000	–	147,070	–	2.96%	–
FFIV	New	F5 Networks	$11,980,000	–	64,179	–	2.95%	–
NVS	New	Novartis AG (ADR)	$11,696,000	–	128,190	–	2.88%	–
MDT	New	Medtronic PLC	$11,336,000	–	91,325	–	2.79%	–
MMM	New	3M	$11,206,000	–	56,417	–	2.76%	–
SYY	New	Sysco	$10,452,000	–	134,435	–	2.57%	–
CTVA	New	Corteva	$10,439,000	–	235,371	–	2.57%	–
DD	New	DuPont	$10,321,000	–	133,333	–	2.54%	–
CB	New	Chubb Limited	$10,095,000	–	63,517	–	2.48%	–
SLB	New	Schlumberger	$10,037,000	–	313,550	–	2.47%	–
FAST	New	Fastenal	$9,897,000	–	190,325	–	2.43%	–
PEP	New	PepsiCo	$9,708,000	–	65,517	–	2.39%	–
WY	New	Weyerhaeuser	$9,256,000	–	268,910	–	2.28%	–
BP	New	BP PLC	$9,179,000	–	347,438	–	2.26%	–
EMR	New	Emerson Electric	$8,986,000	–	93,375	–	2.21%	–
HSY	New	Hershey Company	$8,731,000	–	50,124	–	2.15%	–
ACN	New	Accenture	$8,414,000	–	28,543	–	2.07%	–
AMT	New	American Tower	$8,232,000	–	30,473	–	2.02%	–
WMB	New	Williams Cos	$7,792,000	–	293,480	–	1.92%	–
AZPN	New	Aspen Technology	$6,269,000	–	45,580	–	1.54%	–
CL	New	Colgate Palmolive	$6,122,000	–	75,250	–	1.51%	–
FTNT	New	Fortinet	$5,460,000	–	22,923	–	1.34%	–
TXN	New	Texas Instruments	$5,385,000	–	28,005	–	1.32%	–
CERN	New	Cerner Corp	$5,050,000	–	64,615	–	1.24%	–
PFE	New	Pfizer	$4,494,000	–	114,771	–	1.10%	–
GIS	New	General Mills	$3,563,000	–	58,485	–	0.88%	–
UNP	New	Union Pacific	$3,519,000	–	16,000	–	0.86%	–
IT	New	Gartner Inc	$3,101,000	–	12,805	–	0.76%	–
CHRW	New	C. H. Robinson Worldwide	$3,045,000	–	32,505	–	0.75%	–
ANSS	New	Ansys Inc.	$2,757,000	–	7,945	–	0.68%	–
ADSK	New	Autodesk Inc.	$2,326,000	–	7,970	–	0.57%	–
T	New	AT&T	$2,269,000	–	78,823	–	0.56%	–
NEE	New	NextEra Energy	$1,992,000	–	27,180	–	0.49%	–
CLX	New	Clorox	$1,927,000	–	10,711	–	0.47%	–
HD	New	Home Depot	$1,814,000	–	5,690	–	0.45%	–
XOM	New	Exxon Mobil	$1,497,000	–	23,739	–	0.37%	–
STT	New	State Street	$1,481,000	–	18,000	–	0.36%	–
KO	New	Coca Cola	$1,447,000	–	26,750	–	0.36%	–
CMCSA	New	Comcast Corp	$1,425,000	–	25,000	–	0.35%	–
VZ	New	Verizon	$1,381,000	–	24,644	–	0.34%	–
IBM	New	International Business Machine	$1,374,000	–	9,370	–	0.34%	–
BRKA	New	Berkshire Hathaway Class A (3	$1,256,000	–	300	–	0.31%	–
MMC	New	Marsh & McLennan	$1,159,000	–	8,240	–	0.28%	–
CSCO	New	Cisco Systems	$1,047,000	–	19,750	–	0.26%	–
DIS	New	Walt Disney	$1,019,000	–	5,800	–	0.25%	–
JPM	New	J.P. Morgan Chase	$1,008,000	–	6,479	–	0.25%	–
SPLK	New	Splunk Inc.	$963,000	–	6,660	–	0.24%	–
MSFT	New	Microsoft	$765,000	–	2,825	–	0.19%	–
DOW	New	Dow Inc.	$697,000	–	11,008	–	0.17%	–
UBA	New	Urstadt Biddle Properties Inc	$619,000	–	31,950	–	0.15%	–
LLY	New	Eli Lilly	$574,000	–	2,500	–	0.14%	–
SHW	New	Sherwin Williams	$572,000	–	2,100	–	0.14%	–
HIG	New	Hartford Financial	$521,000	–	8,400	–	0.13%	–
APD	New	Air Products	$487,000	–	1,694	–	0.12%	–
NSC	New	Norfolk Southern	$451,000	–	1,700	–	0.11%	–
AMGN	New	Amgen	$439,000	–	1,800	–	0.11%	–
PSX	New	Phillips 66	$435,000	–	5,070	–	0.11%	–
DUK	New	Duke Energy	$407,000	–	4,121	–	0.10%	–
K	New	Kellogg Company	$400,000	–	6,224	–	0.10%	–
WBA	New	Walgreens Boots Alliance	$389,000	–	7,400	–	0.10%	–
COP	New	ConocoPhillips	$373,000	–	6,117	–	0.09%	–
CVX	New	Chevron	$315,000	–	3,010	–	0.08%	–
ES	New	Eversource Energy	$281,000	–	3,500	–	0.07%	–
AAPL	New	Apple Computer	$258,000	–	1,882	–	0.06%	–
ORCL	New	Oracle	$257,000	–	3,300	–	0.06%	–
SWK	New	Stanley Black & Decker, Inc.	$246,000	–	1,200	–	0.06%	–
AMZN	New	Amazon.com	$227,000	–	66	–	0.06%	–
NKE	New	Nike Inc. Cl B	$212,000	–	1,374	–	0.05%	–

Q4 2020

			Value		Shares		↓ Weighting
GE	Exit	General Electric	$0	–	-22,298	–	-0.04%	–
COP	Exit	ConocoPhillips	$0	–	-6,117	–	-0.06%	–
AAPL	Exit	Apple Computer	$0	–	-1,800	–	-0.06%	–
ORCL	Exit	Oracle	$0	–	-3,600	–	-0.06%	–
CVX	Exit	Chevron	$0	–	-3,235	–	-0.07%	–
SWK	Exit	Stanley Black & Decker, Inc.	$0	–	-1,500	–	-0.07%	–
ES	Exit	Eversource Energy	$0	–	-3,500	–	-0.09%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.09%	–
HIG	Exit	Hartford Financial	$0	–	-8,400	–	-0.09%	–
PSX	Exit	Phillips 66	$0	–	-6,170	–	-0.10%	–
NSC	Exit	Norfolk Southern	$0	–	-1,700	–	-0.11%	–
LLY	Exit	Eli Lilly	$0	–	-2,500	–	-0.11%	–
K	Exit	Kellogg Company	$0	–	-6,224	–	-0.12%	–
DUK	Exit	Duke Energy	$0	–	-5,407	–	-0.14%	–
SHW	Exit	Sherwin Williams	$0	–	-700	–	-0.15%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-16,300	–	-0.17%	–
DOW	Exit	Dow Inc.	$0	–	-12,433	–	-0.17%	–
APD	Exit	Air Products	$0	–	-2,094	–	-0.19%	–
RTX	Exit	Raytheon Technologies	$0	–	-11,308	–	-0.19%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-7,880	–	-0.23%	–
DIS	Exit	Walt Disney	$0	–	-6,500	–	-0.24%	–
AMGN	Exit	Amgen	$0	–	-3,500	–	-0.26%	–
CSCO	Exit	Cisco Systems	$0	–	-22,850	–	-0.27%	–
MMC	Exit	Marsh & McLennan	$0	–	-8,240	–	-0.28%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.29%	–
FTNT	Exit	Fortinet	$0	–	-8,200	–	-0.29%	–
STT	Exit	State Street	$0	–	-18,000	–	-0.32%	–
IBM	Exit	International Business Machine	$0	–	-9,450	–	-0.34%	–
CMCSA	Exit	Comcast Corp	$0	–	-25,000	–	-0.34%	–
MSFT	Exit	Microsoft	$0	–	-5,570	–	-0.35%	–
VZ	Exit	Verizon	$0	–	-26,144	–	-0.46%	–
HD	Exit	Home Depot	$0	–	-5,715	–	-0.47%	–
XOM	Exit	Exxon Mobil	$0	–	-46,390	–	-0.48%	–
KO	Exit	Coca Cola	$0	–	-34,950	–	-0.51%	–
NEE	Exit	NextEra Energy	$0	–	-6,920	–	-0.57%	–
CLX	Exit	Clorox	$0	–	-10,871	–	-0.68%	–
T	Exit	AT&T	$0	–	-88,273	–	-0.75%	–
ANSS	Exit	Ansys Inc.	$0	–	-8,805	–	-0.86%	–
CHRW	Exit	C. H. Robinson Worldwide	$0	–	-28,210	–	-0.86%	–
CERN	Exit	Cerner Corp	$0	–	-41,520	–	-0.90%	–
UNP	Exit	Union Pacific	$0	–	-16,500	–	-0.97%	–
TXN	Exit	Texas Instruments	$0	–	-28,905	–	-1.23%	–
GIS	Exit	General Mills	$0	–	-68,135	–	-1.25%	–
PFE	Exit	Pfizer	$0	–	-121,671	–	-1.33%	–
SLB	Exit	Schlumberger	$0	–	-303,150	–	-1.41%	–
CL	Exit	Colgate Palmolive	$0	–	-65,690	–	-1.51%	–
WMB	Exit	Williams Cos	$0	–	-268,925	–	-1.58%	–
BP	Exit	BP PLC	$0	–	-324,703	–	-1.69%	–
AZPN	Exit	Aspen Technology	$0	–	-47,135	–	-1.78%	–
AMT	Exit	American Tower	$0	–	-25,508	–	-1.84%	–
CTVA	Exit	Corteva	$0	–	-226,161	–	-1.94%	–
EMR	Exit	Emerson Electric	$0	–	-99,900	–	-1.95%	–
DD	Exit	DuPont	$0	–	-123,206	–	-2.04%	–
HSY	Exit	Hershey Company	$0	–	-50,714	–	-2.17%	–
WY	Exit	Weyerhaeuser	$0	–	-262,400	–	-2.23%	–
ACN	Exit	Accenture	$0	–	-34,583	–	-2.33%	–
CB	Exit	Chubb Limited	$0	–	-67,304	–	-2.33%	–
FFIV	Exit	F5 Networks	$0	–	-65,455	–	-2.40%	–
TRMB	Exit	Trimble	$0	–	-172,200	–	-2.50%	–
MMM	Exit	3M	$0	–	-52,991	–	-2.53%	–
NTRS	Exit	Northern Trust	$0	–	-110,982	–	-2.58%	–
PEP	Exit	PepsiCo	$0	–	-65,857	–	-2.72%	–
FAST	Exit	Fastenal	$0	–	-207,550	–	-2.79%	–
SYY	Exit	Sysco	$0	–	-152,270	–	-2.82%	–
MDT	Exit	Medtronic PLC	$0	–	-93,995	–	-2.91%	–
ADP	Exit	Automatic Data Processing	$0	–	-71,931	–	-2.99%	–
IFF	Exit	International Flavors & Fragra	$0	–	-86,747	–	-3.17%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-126,470	–	-3.28%	–
JNJ	Exit	Johnson & Johnson	$0	–	-76,634	–	-3.40%	–
UPS	Exit	United Parcel Service	$0	–	-70,722	–	-3.51%	–
INTC	Exit	Intel	$0	–	-261,897	–	-4.04%	–
PG	Exit	Procter & Gamble	$0	–	-118,215	–	-4.90%	–
MRK	Exit	Merck	$0	–	-203,357	–	-5.03%	–
NEM	Exit	Newmont	$0	–	-369,850	–	-7.00%	–

Q3 2020

			Value		Shares		↓ Weighting
NEM	Buy	Newmont	$23,467,000	+3.4%	369,850	+0.6%	7.00%	-2.6%
MRK	Buy	Merck	$16,868,000	+7.9%	203,357	+0.6%	5.03%	+1.6%
PG	Sell	Procter & Gamble	$16,431,000	+15.8%	118,215	-0.4%	4.90%	+9.0%
INTC	Buy	Intel	$13,561,000	-9.6%	261,897	+4.5%	4.04%	-14.8%
UPS	Sell	United Parcel Service	$11,784,000	+47.9%	70,722	-1.3%	3.51%	+39.3%
JNJ	Buy	Johnson & Johnson	$11,409,000	+6.3%	76,634	+0.4%	3.40%	+0.1%
NVS	Buy	Novartis AG (ADR)	$10,998,000	+1.7%	126,470	+2.1%	3.28%	-4.2%
IFF	Buy	International Flavors & Fragra	$10,622,000	+4.9%	86,747	+4.9%	3.17%	-1.2%
ADP	Buy	Automatic Data Processing	$10,034,000	+1.2%	71,931	+8.0%	2.99%	-4.7%
MDT	Buy	Medtronic PLC	$9,768,000	+14.2%	93,995	+0.8%	2.91%	+7.6%
SYY	Sell	Sysco	$9,474,000	+12.5%	152,270	-1.2%	2.82%	+6.0%
FAST	Sell	Fastenal	$9,358,000	+5.0%	207,550	-0.2%	2.79%	-1.1%
PEP	Sell	PepsiCo	$9,128,000	+4.7%	65,857	-0.1%	2.72%	-1.3%
NTRS	Buy	Northern Trust	$8,653,000	-1.6%	110,982	+0.1%	2.58%	-7.4%
MMM	Buy	3M	$8,488,000	+3.1%	52,991	+0.4%	2.53%	-2.8%
TRMB	Sell	Trimble	$8,386,000	+9.9%	172,200	-2.6%	2.50%	+3.5%
FFIV	Buy	F5 Networks	$8,036,000	-6.0%	65,455	+6.8%	2.40%	-11.5%
CB	Buy	Chubb Limited	$7,815,000	-5.4%	67,304	+3.2%	2.33%	-10.9%
ACN	Sell	Accenture	$7,815,000	+2.6%	34,583	-2.5%	2.33%	-3.4%
WY	Sell	Weyerhaeuser	$7,484,000	+22.4%	262,400	-3.6%	2.23%	+15.2%
HSY	Buy	Hershey Company	$7,269,000	+10.9%	50,714	+0.2%	2.17%	+4.4%
DD	Sell	DuPont	$6,835,000	+3.7%	123,206	-0.7%	2.04%	-2.3%
EMR	Sell	Emerson Electric	$6,550,000	+3.8%	99,900	-1.8%	1.95%	-2.2%
CTVA	Buy	Corteva	$6,516,000	+32.3%	226,161	+23.0%	1.94%	+24.6%
AMT	Sell	American Tower	$6,166,000	-8.2%	25,508	-1.8%	1.84%	-13.5%
AZPN	Buy	Aspen Technology	$5,967,000	+46.2%	47,135	+19.6%	1.78%	+37.7%
BP	Buy	BP PLC	$5,669,000	-16.5%	324,703	+11.5%	1.69%	-21.4%
WMB	Buy	Williams Cos	$5,284,000	+14.8%	268,925	+11.1%	1.58%	+8.1%
CL	Buy	Colgate Palmolive	$5,068,000	+7.5%	65,690	+2.0%	1.51%	+1.2%
SLB	Buy	Schlumberger	$4,717,000	-13.3%	303,150	+2.5%	1.41%	-18.4%
CERN	Buy	Cerner Corp	$3,001,000	+7.0%	41,520	+1.5%	0.90%	+0.8%
CHRW	Sell	C. H. Robinson Worldwide	$2,883,000	+28.2%	28,210	-0.8%	0.86%	+20.8%
ANSS	Sell	Ansys Inc.	$2,881,000	+1.0%	8,805	-9.9%	0.86%	-4.9%
T	Sell	AT&T	$2,517,000	-5.9%	88,273	-0.2%	0.75%	-11.3%
XOM	Sell	Exxon Mobil	$1,593,000	-24.8%	46,390	-2.1%	0.48%	-29.2%
MSFT	Sell	Microsoft	$1,172,000	+2.9%	5,570	-0.4%	0.35%	-3.3%
FTNT	Buy	Fortinet	$966,000	+1.6%	8,200	+18.4%	0.29%	-4.3%
CSCO	Sell	Cisco Systems	$900,000	-18.8%	22,850	-3.8%	0.27%	-23.6%
DIS	Sell	Walt Disney	$807,000	-3.5%	6,500	-13.3%	0.24%	-9.1%
JPM	Buy	J.P. Morgan Chase	$759,000	+58.8%	7,880	+55.1%	0.23%	+49.7%
ES	New	Eversource Energy	$292,000	–	3,500	–	0.09%	–
SWK	New	Stanley Black & Decker, Inc.	$243,000	–	1,500	–	0.07%	–
ORCL	New	Oracle	$215,000	–	3,600	–	0.06%	–
AAPL	New	Apple Computer	$208,000	–	1,800	–	0.06%	–

Q2 2020

			Value		Shares		↓ Weighting
NEM	New	Newmont	$22,705,000	–	367,750	–	7.19%	–
MRK	New	Merck	$15,635,000	–	202,182	–	4.95%	–
INTC	New	Intel	$14,993,000	–	250,597	–	4.75%	–
PG	New	Procter & Gamble	$14,194,000	–	118,710	–	4.49%	–
NVS	New	Novartis AG (ADR)	$10,817,000	–	123,845	–	3.42%	–
JNJ	New	Johnson & Johnson	$10,731,000	–	76,309	–	3.40%	–
IFF	New	International Flavors & Fragra	$10,129,000	–	82,712	–	3.21%	–
ADP	New	Automatic Data Processing	$9,915,000	–	66,591	–	3.14%	–
FAST	New	Fastenal	$8,909,000	–	207,950	–	2.82%	–
NTRS	New	Northern Trust	$8,797,000	–	110,882	–	2.78%	–
PEP	New	PepsiCo	$8,717,000	–	65,907	–	2.76%	–
MDT	New	Medtronic PLC	$8,551,000	–	93,245	–	2.71%	–
FFIV	New	F5 Networks	$8,550,000	–	61,300	–	2.71%	–
SYY	New	Sysco	$8,421,000	–	154,070	–	2.67%	–
CB	New	Chubb Limited	$8,259,000	–	65,229	–	2.61%	–
MMM	New	3M	$8,231,000	–	52,764	–	2.60%	–
UPS	New	United Parcel Service	$7,969,000	–	71,677	–	2.52%	–
TRMB	New	Trimble	$7,634,000	–	176,750	–	2.42%	–
ACN	New	Accenture	$7,618,000	–	35,480	–	2.41%	–
BP	New	BP PLC	$6,790,000	–	291,153	–	2.15%	–
AMT	New	American Tower	$6,717,000	–	25,980	–	2.13%	–
DD	New	DuPont	$6,591,000	–	124,056	–	2.09%	–
HSY	New	Hershey Company	$6,557,000	–	50,589	–	2.08%	–
EMR	New	Emerson Electric	$6,308,000	–	101,700	–	2.00%	–
WY	New	Weyerhaeuser	$6,115,000	–	272,275	–	1.94%	–
SLB	New	Schlumberger	$5,439,000	–	295,775	–	1.72%	–
CTVA	New	Corteva	$4,924,000	–	183,815	–	1.56%	–
CL	New	Colgate Palmolive	$4,716,000	–	64,372	–	1.49%	–
WMB	New	Williams Cos	$4,604,000	–	242,075	–	1.46%	–
GIS	New	General Mills	$4,201,000	–	68,135	–	1.33%	–
AZPN	New	Aspen Technology	$4,082,000	–	39,395	–	1.29%	–
PFE	New	Pfizer	$3,979,000	–	121,671	–	1.26%	–
TXN	New	Texas Instruments	$3,670,000	–	28,905	–	1.16%	–
ANSS	New	Ansys Inc.	$2,852,000	–	9,775	–	0.90%	–
CERN	New	Cerner Corp	$2,805,000	–	40,920	–	0.89%	–
UNP	New	Union Pacific	$2,790,000	–	16,500	–	0.88%	–
T	New	AT&T	$2,674,000	–	88,448	–	0.85%	–
CLX	New	Clorox	$2,385,000	–	10,871	–	0.76%	–
CHRW	New	C. H. Robinson Worldwide	$2,248,000	–	28,435	–	0.71%	–
XOM	New	Exxon Mobil	$2,119,000	–	47,390	–	0.67%	–
NEE	New	NextEra Energy	$1,662,000	–	6,920	–	0.53%	–
KO	New	Coca Cola	$1,562,000	–	34,950	–	0.49%	–
VZ	New	Verizon	$1,441,000	–	26,144	–	0.46%	–
HD	New	Home Depot	$1,432,000	–	5,715	–	0.45%	–
STT	New	State Street	$1,144,000	–	18,000	–	0.36%	–
MSFT	New	Microsoft	$1,139,000	–	5,595	–	0.36%	–
IBM	New	International Business Machine	$1,141,000	–	9,450	–	0.36%	–
CSCO	New	Cisco Systems	$1,108,000	–	23,748	–	0.35%	–
CMCSA	New	Comcast Corp	$974,000	–	25,000	–	0.31%	–
FTNT	New	Fortinet	$951,000	–	6,925	–	0.30%	–
MMC	New	Marsh & McLennan	$885,000	–	8,240	–	0.28%	–
DIS	New	Walt Disney	$836,000	–	7,500	–	0.26%	–
AMGN	New	Amgen	$826,000	–	3,500	–	0.26%	–
BRKA	New	Berkshire Hathaway Class A (3	$802,000	–	300	–	0.25%	–
RTX	New	Raytheon Technologies	$697,000	–	11,308	–	0.22%	–
WBA	New	Walgreens Boots Alliance	$691,000	–	16,300	–	0.22%	–
APD	New	Air Products	$506,000	–	2,094	–	0.16%	–
DOW	New	Dow Inc.	$507,000	–	12,433	–	0.16%	–
JPM	New	J.P. Morgan Chase	$478,000	–	5,080	–	0.15%	–
PSX	New	Phillips 66	$444,000	–	6,170	–	0.14%	–
DUK	New	Duke Energy	$432,000	–	5,407	–	0.14%	–
LLY	New	Eli Lilly	$410,000	–	2,500	–	0.13%	–
K	New	Kellogg Company	$411,000	–	6,224	–	0.13%	–
SHW	New	Sherwin Williams	$404,000	–	700	–	0.13%	–
UBA	New	Urstadt Biddle Properties Inc	$380,000	–	31,950	–	0.12%	–
HIG	New	Hartford Financial	$324,000	–	8,400	–	0.10%	–
NSC	New	Norfolk Southern	$298,000	–	1,700	–	0.09%	–
CVX	New	Chevron	$289,000	–	3,235	–	0.09%	–
COP	New	ConocoPhillips	$257,000	–	6,117	–	0.08%	–
GE	New	General Electric	$152,000	–	22,298	–	0.05%	–

Q4 2019

			Value		Shares		↓ Weighting
ORCL	Exit	Oracle	$0	–	-4,700	–	-0.08%	–
RDSA	Exit	Royal DutchShell Class A (ADR)	$0	–	-4,406	–	-0.08%	–
LLY	Exit	Eli Lilly	$0	–	-2,600	–	-0.09%	–
NSC	Exit	Norfolk Southern	$0	–	-1,700	–	-0.09%	–
GE	Exit	General Electric	$0	–	-36,643	–	-0.10%	–
COP	Exit	ConocoPhillips	$0	–	-6,117	–	-0.10%	–
K	Exit	Kellogg Company	$0	–	-6,224	–	-0.12%	–
SHW	Exit	Sherwin Williams	$0	–	-750	–	-0.12%	–
CVX	Exit	Chevron	$0	–	-3,765	–	-0.13%	–
FTNT	Exit	Fortinet	$0	–	-6,525	–	-0.15%	–
HIG	Exit	Hartford Financial	$0	–	-8,400	–	-0.15%	–
APD	Exit	Air Products	$0	–	-2,294	–	-0.15%	–
DUK	Exit	Duke Energy	$0	–	-5,755	–	-0.17%	–
BWFG	Exit	Bankwell Financial	$0	–	-22,165	–	-0.18%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-5,250	–	-0.19%	–
PSX	Exit	Phillips 66	$0	–	-6,961	–	-0.21%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.23%	–
AMGN	Exit	Amgen	$0	–	-4,000	–	-0.23%	–
MMC	Exit	Marsh & McLennan	$0	–	-8,000	–	-0.24%	–
MSFT	Exit	Microsoft	$0	–	-5,745	–	-0.24%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.28%	–
DIS	Exit	Walt Disney	$0	–	-7,700	–	-0.30%	–
CHRW	Exit	C. H. Robinson Worldwide	$0	–	-12,765	–	-0.32%	–
DOW	Exit	Dow Inc.	$0	–	-24,661	–	-0.35%	–
CSCO	Exit	Cisco Systems	$0	–	-25,298	–	-0.38%	–
HD	Exit	Home Depot	$0	–	-5,575	–	-0.39%	–
CMCSA	Exit	Comcast Corp	$0	–	-28,812	–	-0.39%	–
STT	Exit	State Street	$0	–	-22,000	–	-0.39%	–
IBM	Exit	International Business Machine	$0	–	-10,200	–	-0.45%	–
NEE	Exit	NextEra Energy	$0	–	-6,920	–	-0.48%	–
VZ	Exit	Verizon	$0	–	-26,892	–	-0.49%	–
CERN	Exit	Cerner Corp	$0	–	-24,975	–	-0.51%	–
UNP	Exit	Union Pacific	$0	–	-11,225	–	-0.55%	–
UTX	Exit	United Technologies	$0	–	-14,175	–	-0.58%	–
KO	Exit	Coca Cola	$0	–	-37,080	–	-0.61%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-37,000	–	-0.62%	–
TXN	Exit	Texas Instruments	$0	–	-16,305	–	-0.63%	–
ANSS	Exit	Ansys Inc.	$0	–	-12,130	–	-0.81%	–
LOGM	Exit	LogMeIn	$0	–	-41,465	–	-0.88%	–
CTVA	Exit	Corteva	$0	–	-112,338	–	-0.94%	–
XOM	Exit	Exxon Mobil	$0	–	-49,550	–	-1.05%	–
T	Exit	AT&T	$0	–	-95,630	–	-1.09%	–
GIS	Exit	General Mills	$0	–	-69,675	–	-1.15%	–
AZPN	Exit	Aspen Technology	$0	–	-35,850	–	-1.33%	–
PFE	Exit	Pfizer	$0	–	-124,190	–	-1.34%	–
CL	Exit	Colgate Palmolive	$0	–	-62,700	–	-1.38%	–
WMB	Exit	Williams Cos	$0	–	-195,875	–	-1.42%	–
CLX	Exit	Clorox	$0	–	-37,246	–	-1.70%	–
DD	Exit	DuPont	$0	–	-84,132	–	-1.80%	–
AMT	Exit	American Tower	$0	–	-28,370	–	-1.88%	–
SLB	Exit	Schlumberger	$0	–	-196,273	–	-2.02%	–
WY	Exit	Weyerhaeuser	$0	–	-243,000	–	-2.02%	–
TRMB	Exit	Trimble	$0	–	-176,475	–	-2.06%	–
FAST	Exit	Fastenal	$0	–	-213,250	–	-2.09%	–
MMM	Exit	3M	$0	–	-44,172	–	-2.18%	–
EMR	Exit	Emerson Electric	$0	–	-109,797	–	-2.21%	–
ACN	Exit	Accenture	$0	–	-40,125	–	-2.32%	–
UPS	Exit	United Parcel Service	$0	–	-68,247	–	-2.46%	–
FFIV	Exit	F5 Networks	$0	–	-60,425	–	-2.55%	–
HSY	Exit	Hershey Company	$0	–	-55,023	–	-2.56%	–
IFF	Exit	International Flavors & Fragra	$0	–	-74,832	–	-2.76%	–
PEP	Exit	PepsiCo	$0	–	-67,707	–	-2.79%	–
CB	Exit	Chubb Limited	$0	–	-57,849	–	-2.81%	–
JNJ	Exit	Johnson & Johnson	$0	–	-77,049	–	-3.00%	–
BP	Exit	BP PLC	$0	–	-263,918	–	-3.01%	–
NTRS	Exit	Northern Trust	$0	–	-113,082	–	-3.17%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-122,020	–	-3.19%	–
MDT	Exit	Medtronic PLC	$0	–	-98,170	–	-3.20%	–
ADP	Exit	Automatic Data Processing	$0	–	-68,371	–	-3.32%	–
SYY	Exit	Sysco	$0	–	-174,800	–	-4.17%	–
NEM	Exit	Newmont Goldcorp	$0	–	-372,560	–	-4.24%	–
INTC	Exit	Intel	$0	–	-287,597	–	-4.45%	–
PG	Exit	Procter & Gamble	$0	–	-123,690	–	-4.62%	–
MRK	Exit	Merck	$0	–	-206,968	–	-5.24%	–

Q3 2019

			Value		Shares		↓ Weighting
MRK	Sell	Merck	$17,423,000	+0.0%	206,968	-0.3%	5.24%	+0.2%
PG	Sell	Procter & Gamble	$15,385,000	+11.6%	123,690	-1.7%	4.62%	+11.7%
INTC	Buy	Intel	$14,820,000	+8.1%	287,597	+0.5%	4.45%	+8.3%
NEM	Sell	Newmont Goldcorp	$14,127,000	-1.8%	372,560	-0.3%	4.24%	-1.6%
SYY	Sell	Sysco	$13,879,000	+8.1%	174,800	-3.7%	4.17%	+8.3%
ADP	Sell	Automatic Data Processing	$11,036,000	-3.9%	68,371	-1.6%	3.32%	-3.8%
MDT	Sell	Medtronic PLC	$10,663,000	+10.5%	98,170	-0.9%	3.20%	+10.7%
NVS	Sell	Novartis AG (ADR)	$10,604,000	-5.0%	122,020	-0.2%	3.19%	-4.9%
NTRS	Sell	Northern Trust	$10,553,000	+3.6%	113,082	-0.1%	3.17%	+3.8%
BP	Buy	BP PLC	$10,026,000	-8.3%	263,918	+0.7%	3.01%	-8.1%
JNJ	Buy	Johnson & Johnson	$9,969,000	-5.9%	77,049	+1.2%	3.00%	-5.8%
CB	Sell	Chubb Limited	$9,339,000	+8.6%	57,849	-0.9%	2.81%	+8.8%
PEP	Sell	PepsiCo	$9,283,000	+3.6%	67,707	-1.0%	2.79%	+3.7%
IFF	Buy	International Flavors & Fragra	$9,181,000	-7.3%	74,832	+9.7%	2.76%	-7.1%
HSY	Sell	Hershey Company	$8,528,000	+12.2%	55,023	-2.9%	2.56%	+12.4%
FFIV	Buy	F5 Networks	$8,485,000	-2.5%	60,425	+1.1%	2.55%	-2.4%
UPS	Sell	United Parcel Service	$8,177,000	+14.7%	68,247	-1.2%	2.46%	+14.9%
ACN	Sell	Accenture	$7,718,000	+2.8%	40,125	-1.2%	2.32%	+3.0%
EMR	Buy	Emerson Electric	$7,341,000	+0.5%	109,797	+0.3%	2.21%	+0.6%
MMM	Buy	3M	$7,262,000	-2.4%	44,172	+2.9%	2.18%	-2.3%
FAST	Buy	Fastenal	$6,967,000	+1.8%	213,250	+1.5%	2.09%	+1.9%
TRMB	Buy	Trimble	$6,849,000	-10.1%	176,475	+4.4%	2.06%	-10.0%
WY	Buy	Weyerhaeuser	$6,731,000	+12.0%	243,000	+6.5%	2.02%	+12.2%
SLB	Sell	Schlumberger	$6,707,000	-15.7%	196,273	-2.0%	2.02%	-15.6%
AMT	Sell	American Tower	$6,273,000	+7.3%	28,370	-0.8%	1.88%	+7.5%
DD	Buy	DuPont	$5,999,000	-2.6%	84,132	+2.6%	1.80%	-2.4%
CLX	Sell	Clorox	$5,657,000	-3.3%	37,246	-2.5%	1.70%	-3.1%
WMB	Buy	Williams Cos	$4,713,000	-10.5%	195,875	+4.3%	1.42%	-10.4%
CL	Sell	Colgate Palmolive	$4,609,000	+1.3%	62,700	-1.3%	1.38%	+1.5%
PFE	Buy	Pfizer	$4,462,000	-16.5%	124,190	+0.6%	1.34%	-16.4%
AZPN	Sell	Aspen Technology	$4,412,000	-5.4%	35,850	-4.5%	1.33%	-5.2%
T	Sell	AT&T	$3,619,000	+10.9%	95,630	-1.8%	1.09%	+11.0%
XOM	Sell	Exxon Mobil	$3,499,000	-8.5%	49,550	-0.7%	1.05%	-8.4%
CTVA	Buy	Corteva	$3,145,000	+5.7%	112,338	+11.7%	0.94%	+5.9%
LOGM	Sell	LogMeIn	$2,942,000	-24.9%	41,465	-22.0%	0.88%	-24.8%
ANSS	Sell	Ansys Inc.	$2,685,000	+7.2%	12,130	-0.8%	0.81%	+7.3%
WBA	Sell	Walgreens Boots Alliance	$2,046,000	-11.4%	37,000	-12.4%	0.62%	-11.3%
UNP	Buy	Union Pacific	$1,818,000	-1.6%	11,225	+2.7%	0.55%	-1.4%
CERN	Buy	Cerner Corp	$1,703,000	-5.1%	24,975	+2.0%	0.51%	-4.8%
IBM	Sell	International Business Machine	$1,483,000	+0.7%	10,200	-4.5%	0.45%	+0.9%
HD	Buy	Home Depot	$1,294,000	+13.6%	5,575	+1.8%	0.39%	+13.7%
DOW	Sell	Dow Inc.	$1,175,000	-36.6%	24,661	-34.3%	0.35%	-36.5%
CHRW	Buy	C. H. Robinson Worldwide	$1,082,000	+32.4%	12,765	+31.8%	0.32%	+32.7%
MSFT	Sell	Microsoft	$799,000	+1.1%	5,745	-2.5%	0.24%	+1.3%
MMC	Sell	Marsh & McLennan	$800,000	-19.8%	8,000	-20.0%	0.24%	-19.7%
FTNT	New	Fortinet	$501,000	–	6,525	–	0.15%	–
CVX	Sell	Chevron	$447,000	-6.5%	3,765	-2.0%	0.13%	-6.3%
COP	Sell	ConocoPhillips	$349,000	-14.9%	6,117	-8.9%	0.10%	-14.6%
LLY	Sell	Eli Lilly	$291,000	-7.6%	2,600	-8.5%	0.09%	-8.4%
RHT	Exit	Red Hat	$0	–	-12,610	–	-0.71%	–

Q2 2019

			Value		Shares		↓ Weighting
MRK	New	Merck	$17,415,000	–	207,693	–	5.22%	–
NEM	New	Newmont Goldcorp	$14,380,000	–	373,810	–	4.31%	–
PG	New	Procter & Gamble	$13,791,000	–	125,772	–	4.14%	–
INTC	New	Intel	$13,705,000	–	286,297	–	4.11%	–
SYY	New	Sysco	$12,843,000	–	181,600	–	3.85%	–
ADP	New	Automatic Data Processing	$11,487,000	–	69,481	–	3.45%	–
NVS	New	Novartis AG (ADR)	$11,167,000	–	122,295	–	3.35%	–
BP	New	BP PLC	$10,930,000	–	262,118	–	3.28%	–
JNJ	New	Johnson & Johnson	$10,599,000	–	76,099	–	3.18%	–
NTRS	New	Northern Trust	$10,186,000	–	113,182	–	3.06%	–
IFF	New	International Flavors & Fragra	$9,899,000	–	68,227	–	2.97%	–
MDT	New	Medtronic PLC	$9,648,000	–	99,070	–	2.90%	–
PEP	New	PepsiCo	$8,964,000	–	68,357	–	2.69%	–
FFIV	New	F5 Networks	$8,705,000	–	59,775	–	2.61%	–
CB	New	Chubb Limited	$8,596,000	–	58,359	–	2.58%	–
SLB	New	Schlumberger	$7,958,000	–	200,248	–	2.39%	–
TRMB	New	Trimble	$7,622,000	–	168,975	–	2.29%	–
HSY	New	Hershey Company	$7,599,000	–	56,693	–	2.28%	–
ACN	New	Accenture	$7,506,000	–	40,625	–	2.25%	–
MMM	New	3M	$7,444,000	–	42,947	–	2.23%	–
EMR	New	Emerson Electric	$7,307,000	–	109,522	–	2.19%	–
UPS	New	United Parcel Service	$7,130,000	–	69,047	–	2.14%	–
FAST	New	Fastenal	$6,846,000	–	210,050	–	2.05%	–
DD	New	DuPont	$6,157,000	–	82,011	–	1.85%	–
WY	New	Weyerhaeuser	$6,008,000	–	228,100	–	1.80%	–
CLX	New	Clorox	$5,848,000	–	38,196	–	1.76%	–
AMT	New	American Tower	$5,846,000	–	28,595	–	1.75%	–
PFE	New	Pfizer	$5,345,000	–	123,390	–	1.60%	–
WMB	New	Williams Cos	$5,267,000	–	187,825	–	1.58%	–
AZPN	New	Aspen Technology	$4,664,000	–	37,525	–	1.40%	–
CL	New	Colgate Palmolive	$4,551,000	–	63,500	–	1.36%	–
LOGM	New	LogMeIn	$3,917,000	–	53,165	–	1.18%	–
XOM	New	Exxon Mobil	$3,825,000	–	49,920	–	1.15%	–
GIS	New	General Mills	$3,659,000	–	69,675	–	1.10%	–
T	New	AT&T	$3,263,000	–	97,380	–	0.98%	–
CTVA	New	Corteva	$2,974,000	–	100,581	–	0.89%	–
ANSS	New	Ansys Inc.	$2,505,000	–	12,230	–	0.75%	–
RHT	New	Red Hat	$2,368,000	–	12,610	–	0.71%	–
WBA	New	Walgreens Boots Alliance	$2,310,000	–	42,250	–	0.69%	–
KO	New	Coca Cola	$1,888,000	–	37,080	–	0.57%	–
TXN	New	Texas Instruments	$1,871,000	–	16,305	–	0.56%	–
DOW	New	Dow Inc.	$1,852,000	–	37,563	–	0.56%	–
UTX	New	United Technologies	$1,846,000	–	14,175	–	0.55%	–
UNP	New	Union Pacific	$1,848,000	–	10,925	–	0.55%	–
CERN	New	Cerner Corp	$1,794,000	–	24,475	–	0.54%	–
VZ	New	Verizon	$1,536,000	–	26,892	–	0.46%	–
IBM	New	International Business Machine	$1,473,000	–	10,680	–	0.44%	–
NEE	New	NextEra Energy	$1,418,000	–	6,920	–	0.42%	–
CSCO	New	Cisco Systems	$1,385,000	–	25,298	–	0.42%	–
STT	New	State Street	$1,233,000	–	22,000	–	0.37%	–
CMCSA	New	Comcast Corp	$1,218,000	–	28,812	–	0.36%	–
HD	New	Home Depot	$1,139,000	–	5,475	–	0.34%	–
DIS	New	Walt Disney	$1,075,000	–	7,700	–	0.32%	–
MMC	New	Marsh & McLennan	$997,000	–	10,000	–	0.30%	–
BRKA	New	Berkshire Hathaway Class A (3	$955,000	–	300	–	0.29%	–
CHRW	New	C. H. Robinson Worldwide	$817,000	–	9,685	–	0.24%	–
MSFT	New	Microsoft	$790,000	–	5,895	–	0.24%	–
AMGN	New	Amgen	$737,000	–	4,000	–	0.22%	–
UBA	New	Urstadt Biddle Properties Inc	$671,000	–	31,950	–	0.20%	–
PSX	New	Phillips 66	$651,000	–	6,961	–	0.20%	–
BWFG	New	Bankwell Financial	$636,000	–	22,165	–	0.19%	–
JPM	New	J.P. Morgan Chase	$587,000	–	5,250	–	0.18%	–
APD	New	Air Products	$519,000	–	2,294	–	0.16%	–
DUK	New	Duke Energy	$508,000	–	5,755	–	0.15%	–
CVX	New	Chevron	$478,000	–	3,840	–	0.14%	–
HIG	New	Hartford Financial	$468,000	–	8,400	–	0.14%	–
COP	New	ConocoPhillips	$410,000	–	6,717	–	0.12%	–
GE	New	General Electric	$385,000	–	36,643	–	0.12%	–
SHW	New	Sherwin Williams	$344,000	–	750	–	0.10%	–
NSC	New	Norfolk Southern	$339,000	–	1,700	–	0.10%	–
K	New	Kellogg Company	$333,000	–	6,224	–	0.10%	–
LLY	New	Eli Lilly	$315,000	–	2,840	–	0.10%	–
RDSA	New	Royal DutchShell Class A (ADR)	$287,000	–	4,406	–	0.09%	–
ORCL	New	Oracle	$268,000	–	4,700	–	0.08%	–

Q4 2018

			Value		Shares		↓ Weighting
AAPL	Exit	Apple Computer	$0	–	-1,040	–	-0.07%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-3,754	–	-0.07%	–
MANH	Exit	Manhattan Associates	$0	–	-5,200	–	-0.08%	–
LLY	Exit	Eli Lilly	$0	–	-2,840	–	-0.09%	–
RDSA	Exit	Royal DutchShell Class A (ADR)	$0	–	-4,606	–	-0.09%	–
ORCL	Exit	Oracle	$0	–	-6,100	–	-0.09%	–
NSC	Exit	Norfolk Southern	$0	–	-1,900	–	-0.10%	–
SHW	Exit	Sherwin Williams	$0	–	-800	–	-0.11%	–
APD	Exit	Air Products	$0	–	-2,294	–	-0.12%	–
HIG	Exit	Hartford Financial	$0	–	-8,500	–	-0.13%	–
K	Exit	Kellogg Company	$0	–	-6,493	–	-0.14%	–
DUK	Exit	Duke Energy	$0	–	-5,855	–	-0.14%	–
CVX	Exit	Chevron	$0	–	-3,965	–	-0.14%	–
COP	Exit	ConocoPhillips	$0	–	-6,717	–	-0.16%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.20%	–
BWFG	Exit	Bankwell Financial	$0	–	-22,165	–	-0.21%	–
ESRX	Exit	Express Scripts	$0	–	-7,700	–	-0.22%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-6,550	–	-0.22%	–
MSFT	Exit	Microsoft	$0	–	-6,595	–	-0.23%	–
PSX	Exit	Phillips 66	$0	–	-7,205	–	-0.24%	–
MMC	Exit	Marsh & McLennan	$0	–	-10,000	–	-0.25%	–
AMGN	Exit	Amgen	$0	–	-4,000	–	-0.25%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.29%	–
GE	Exit	General Electric	$0	–	-88,428	–	-0.30%	–
HD	Exit	Home Depot	$0	–	-5,575	–	-0.35%	–
CMCSA	Exit	Comcast Corp	$0	–	-34,812	–	-0.37%	–
DIS	Exit	Walt Disney	$0	–	-10,950	–	-0.38%	–
NEE	Exit	NextEra Energy	$0	–	-7,945	–	-0.40%	–
CERN	Exit	Cerner Corp	$0	–	-21,550	–	-0.42%	–
CSCO	Exit	Cisco Systems	$0	–	-29,501	–	-0.43%	–
RHT	Exit	Red Hat	$0	–	-11,960	–	-0.49%	–
IBM	Exit	International Business Machine	$0	–	-10,945	–	-0.50%	–
VZ	Exit	Verizon	$0	–	-32,342	–	-0.52%	–
KO	Exit	Coca Cola	$0	–	-37,400	–	-0.52%	–
STT	Exit	State Street	$0	–	-22,000	–	-0.55%	–
UNP	Exit	Union Pacific	$0	–	-11,425	–	-0.56%	–
TXN	Exit	Texas Instruments	$0	–	-18,255	–	-0.59%	–
UTX	Exit	United Technologies	$0	–	-14,175	–	-0.59%	–
ANSS	Exit	Ansys Inc.	$0	–	-12,230	–	-0.68%	–
T	Exit	AT&T	$0	–	-99,119	–	-1.00%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-47,260	–	-1.03%	–
WY	Exit	Weyerhaeuser	$0	–	-116,850	–	-1.13%	–
CL	Exit	Colgate Palmolive	$0	–	-64,750	–	-1.30%	–
WMB	Exit	Williams Cos	$0	–	-161,450	–	-1.31%	–
AMT	Exit	American Tower	$0	–	-30,825	–	-1.34%	–
AZPN	Exit	Aspen Technology	$0	–	-40,400	–	-1.38%	–
XOM	Exit	Exxon Mobil	$0	–	-54,170	–	-1.38%	–
LOGM	Exit	LogMeIn	$0	–	-56,215	–	-1.50%	–
PFE	Exit	Pfizer	$0	–	-131,290	–	-1.73%	–
HSY	Exit	Hershey Company	$0	–	-58,203	–	-1.78%	–
CLX	Exit	Clorox	$0	–	-39,678	–	-1.79%	–
FAST	Exit	Fastenal	$0	–	-106,600	–	-1.85%	–
GIS	Exit	General Mills	$0	–	-147,200	–	-1.89%	–
TRMB	Exit	Trimble	$0	–	-170,775	–	-2.22%	–
ACN	Exit	Accenture	$0	–	-43,750	–	-2.23%	–
CB	Exit	Chubb Limited	$0	–	-56,934	–	-2.28%	–
UPS	Exit	United Parcel Service	$0	–	-66,875	–	-2.34%	–
PEP	Exit	PepsiCo	$0	–	-70,107	–	-2.35%	–
SLB	Exit	Schlumberger	$0	–	-130,570	–	-2.38%	–
EMR	Exit	Emerson Electric	$0	–	-110,900	–	-2.54%	–
MMM	Exit	3M	$0	–	-43,925	–	-2.77%	–
IFF	Exit	International Flavors & Fragra	$0	–	-68,827	–	-2.87%	–
MDT	Exit	Medtronic PLC	$0	–	-98,370	–	-2.90%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-123,620	–	-3.19%	–
JNJ	Exit	Johnson & Johnson	$0	–	-77,129	–	-3.19%	–
PG	Exit	Procter & Gamble	$0	–	-130,494	–	-3.25%	–
NEM	Exit	Newmont Mining	$0	–	-360,785	–	-3.26%	–
ADP	Exit	Automatic Data Processing	$0	–	-74,431	–	-3.36%	–
FFIV	Exit	F5 Networks	$0	–	-59,060	–	-3.52%	–
NTRS	Exit	Northern Trust	$0	–	-115,635	–	-3.54%	–
BP	Exit	BP PLC	$0	–	-261,468	–	-3.61%	–
DWDP	Exit	DowDuPont	$0	–	-195,671	–	-3.77%	–
INTC	Exit	Intel	$0	–	-289,750	–	-4.10%	–
SYY	Exit	Sysco	$0	–	-187,875	–	-4.12%	–
MRK	Exit	Merck	$0	–	-214,940	–	-4.56%	–

Q3 2018

			Value		Shares		↓ Weighting
MRK	Sell	Merck	$15,248,000	+16.1%	214,940	-0.6%	4.56%	+10.4%
SYY	Sell	Sysco	$13,762,000	+3.1%	187,875	-3.9%	4.12%	-2.0%
INTC	Sell	Intel	$13,702,000	-5.5%	289,750	-0.6%	4.10%	-10.1%
DWDP	Sell	DowDuPont	$12,584,000	-3.1%	195,671	-0.7%	3.77%	-7.8%
BP	Sell	BP PLC	$12,054,000	+0.8%	261,468	-0.2%	3.61%	-4.1%
NTRS	Sell	Northern Trust	$11,810,000	-3.1%	115,635	-2.4%	3.54%	-7.8%
FFIV	Sell	F5 Networks	$11,778,000	+14.2%	59,060	-1.3%	3.52%	+8.6%
ADP	Sell	Automatic Data Processing	$11,214,000	+8.8%	74,431	-3.1%	3.36%	+3.5%
NEM	Buy	Newmont Mining	$10,896,000	-19.1%	360,785	+1.0%	3.26%	-23.1%
PG	Buy	Procter & Gamble	$10,861,000	+6.7%	130,494	+0.1%	3.25%	+1.5%
JNJ	Sell	Johnson & Johnson	$10,657,000	+13.1%	77,129	-0.7%	3.19%	+7.5%
NVS	Sell	Novartis AG (ADR)	$10,651,000	+13.9%	123,620	-0.1%	3.19%	+8.3%
MDT	Sell	Medtronic PLC	$9,677,000	+14.8%	98,370	-0.1%	2.90%	+9.1%
IFF	Sell	International Flavors & Fragra	$9,575,000	+11.7%	68,827	-0.4%	2.87%	+6.3%
MMM	Sell	3M	$9,255,000	+6.0%	43,925	-1.1%	2.77%	+0.8%
EMR	Sell	Emerson Electric	$8,493,000	+10.0%	110,900	-0.6%	2.54%	+4.7%
SLB	Buy	Schlumberger	$7,954,000	-4.4%	130,570	+5.2%	2.38%	-9.1%
PEP	Sell	PepsiCo	$7,838,000	+2.4%	70,107	-0.3%	2.35%	-2.6%
UPS	Sell	United Parcel Service	$7,808,000	+8.3%	66,875	-1.5%	2.34%	+3.0%
CB	Sell	Chubb Limited	$7,609,000	+4.8%	56,934	-0.4%	2.28%	-0.4%
ACN	Sell	Accenture	$7,446,000	-1.5%	43,750	-5.3%	2.23%	-6.3%
TRMB	Sell	Trimble	$7,422,000	+31.4%	170,775	-0.7%	2.22%	+24.9%
GIS	Sell	General Mills	$6,318,000	-6.8%	147,200	-3.9%	1.89%	-11.3%
FAST	Sell	Fastenal	$6,185,000	+20.2%	106,600	-0.3%	1.85%	+14.3%
CLX	Buy	Clorox	$5,968,000	+12.3%	39,678	+1.0%	1.79%	+6.8%
HSY	Sell	Hershey Company	$5,937,000	+9.0%	58,203	-0.6%	1.78%	+3.6%
PFE	Sell	Pfizer	$5,786,000	+18.9%	131,290	-2.2%	1.73%	+13.1%
LOGM	Buy	LogMeIn	$5,009,000	+4.2%	56,215	+20.7%	1.50%	-0.9%
XOM	Sell	Exxon Mobil	$4,606,000	+1.7%	54,170	-1.1%	1.38%	-3.3%
AZPN	Sell	Aspen Technology	$4,602,000	+4.1%	40,400	-15.2%	1.38%	-1.0%
WMB	Buy	Williams Cos	$4,390,000	+5.9%	161,450	+5.6%	1.31%	+0.7%
WY	Buy	Weyerhaeuser	$3,771,000	+2.3%	116,850	+15.6%	1.13%	-2.8%
WBA	Sell	Walgreens Boots Alliance	$3,445,000	+17.1%	47,260	-3.6%	1.03%	+11.3%
T	Sell	AT&T	$3,328,000	+2.3%	99,119	-2.1%	1.00%	-2.7%
UTX	Sell	United Technologies	$1,982,000	+7.3%	14,175	-4.1%	0.59%	+2.1%
TXN	Buy	Texas Instruments	$1,959,000	+26.2%	18,255	+29.7%	0.59%	+19.8%
UNP	Sell	Union Pacific	$1,860,000	+12.5%	11,425	-2.1%	0.56%	+6.9%
KO	Buy	Coca Cola	$1,728,000	+6.5%	37,400	+1.1%	0.52%	+1.2%
VZ	Sell	Verizon	$1,727,000	+3.2%	32,342	-2.7%	0.52%	-1.9%
RHT	Buy	Red Hat	$1,630,000	+3.2%	11,960	+1.7%	0.49%	-1.8%
CSCO	Sell	Cisco Systems	$1,435,000	+11.2%	29,501	-1.7%	0.43%	+5.9%
GE	Sell	General Electric	$998,000	-18.7%	88,428	-1.9%	0.30%	-22.5%
PSX	Sell	Phillips 66	$812,000	-7.9%	7,205	-8.3%	0.24%	-12.6%
JPM	Sell	J.P. Morgan Chase	$739,000	+6.6%	6,550	-1.5%	0.22%	+1.4%
CVX	Sell	Chevron	$485,000	-15.1%	3,965	-12.2%	0.14%	-19.4%
MANH	Sell	Manhattan Associates	$284,000	+8.8%	5,200	-6.3%	0.08%	+3.7%
AAPL	New	Apple Computer	$235,000	–	1,040	–	0.07%	–

Q2 2018

			Value		Shares		↓ Weighting
INTC	New	Intel	$14,495,000	–	291,600	–	4.56%	–
NEM	New	Newmont Mining	$13,466,000	–	357,085	–	4.24%	–
SYY	New	Sysco	$13,351,000	–	195,498	–	4.20%	–
MRK	New	Merck	$13,130,000	–	216,315	–	4.13%	–
DWDP	New	DowDuPont	$12,984,000	–	196,971	–	4.09%	–
NTRS	New	Northern Trust	$12,186,000	–	118,435	–	3.84%	–
BP	New	BP PLC	$11,959,000	–	261,918	–	3.76%	–
FFIV	New	F5 Networks	$10,314,000	–	59,810	–	3.25%	–
ADP	New	Automatic Data Processing	$10,303,000	–	76,806	–	3.24%	–
PG	New	Procter & Gamble	$10,179,000	–	130,394	–	3.20%	–
JNJ	New	Johnson & Johnson	$9,426,000	–	77,679	–	2.97%	–
NVS	New	Novartis AG (ADR)	$9,350,000	–	123,770	–	2.94%	–
MMM	New	3M	$8,733,000	–	44,395	–	2.75%	–
IFF	New	International Flavors & Fragra	$8,569,000	–	69,127	–	2.70%	–
MDT	New	Medtronic PLC	$8,432,000	–	98,495	–	2.65%	–
SLB	New	Schlumberger	$8,323,000	–	124,170	–	2.62%	–
EMR	New	Emerson Electric	$7,718,000	–	111,625	–	2.43%	–
PEP	New	PepsiCo	$7,654,000	–	70,307	–	2.41%	–
ACN	New	Accenture	$7,560,000	–	46,215	–	2.38%	–
CB	New	Chubb Limited	$7,261,000	–	57,164	–	2.28%	–
UPS	New	United Parcel Service	$7,210,000	–	67,875	–	2.27%	–
GIS	New	General Mills	$6,777,000	–	153,125	–	2.13%	–
TRMB	New	Trimble	$5,649,000	–	172,025	–	1.78%	–
HSY	New	Hershey Company	$5,449,000	–	58,553	–	1.72%	–
CLX	New	Clorox	$5,316,000	–	39,303	–	1.67%	–
FAST	New	Fastenal	$5,146,000	–	106,925	–	1.62%	–
PFE	New	Pfizer	$4,868,000	–	134,190	–	1.53%	–
LOGM	New	LogMeIn	$4,808,000	–	46,565	–	1.51%	–
XOM	New	Exxon Mobil	$4,531,000	–	54,770	–	1.43%	–
AMT	New	American Tower	$4,444,000	–	30,825	–	1.40%	–
AZPN	New	Aspen Technology	$4,419,000	–	47,650	–	1.39%	–
CL	New	Colgate Palmolive	$4,196,000	–	64,750	–	1.32%	–
WMB	New	Williams Cos	$4,146,000	–	152,950	–	1.30%	–
WY	New	Weyerhaeuser	$3,687,000	–	101,125	–	1.16%	–
T	New	AT&T	$3,252,000	–	101,288	–	1.02%	–
WBA	New	Walgreens Boots Alliance	$2,943,000	–	49,035	–	0.93%	–
ANSS	New	Ansys Inc.	$2,130,000	–	12,230	–	0.67%	–
STT	New	State Street	$2,048,000	–	22,000	–	0.64%	–
UTX	New	United Technologies	$1,847,000	–	14,775	–	0.58%	–
VZ	New	Verizon	$1,673,000	–	33,250	–	0.53%	–
UNP	New	Union Pacific	$1,654,000	–	11,675	–	0.52%	–
KO	New	Coca Cola	$1,623,000	–	37,000	–	0.51%	–
RHT	New	Red Hat	$1,580,000	–	11,760	–	0.50%	–
TXN	New	Texas Instruments	$1,552,000	–	14,080	–	0.49%	–
IBM	New	International Business Machine	$1,529,000	–	10,945	–	0.48%	–
NEE	New	NextEra Energy	$1,327,000	–	7,945	–	0.42%	–
CSCO	New	Cisco Systems	$1,291,000	–	30,001	–	0.41%	–
CERN	New	Cerner Corp	$1,288,000	–	21,550	–	0.40%	–
GE	New	General Electric	$1,227,000	–	90,128	–	0.39%	–
DIS	New	Walt Disney	$1,148,000	–	10,950	–	0.36%	–
CMCSA	New	Comcast Corp	$1,142,000	–	34,812	–	0.36%	–
HD	New	Home Depot	$1,088,000	–	5,575	–	0.34%	–
PSX	New	Phillips 66	$882,000	–	7,855	–	0.28%	–
BRKA	New	Berkshire Hathaway Class A (3	$846,000	–	300	–	0.27%	–
MMC	New	Marsh & McLennan	$820,000	–	10,000	–	0.26%	–
AMGN	New	Amgen	$738,000	–	4,000	–	0.23%	–
UBA	New	Urstadt Biddle Properties Inc	$723,000	–	31,950	–	0.23%	–
BWFG	New	Bankwell Financial	$713,000	–	22,165	–	0.22%	–
JPM	New	J.P. Morgan Chase	$693,000	–	6,650	–	0.22%	–
MSFT	New	Microsoft	$650,000	–	6,595	–	0.20%	–
ESRX	New	Express Scripts	$595,000	–	7,700	–	0.19%	–
CVX	New	Chevron	$571,000	–	4,515	–	0.18%	–
COP	New	ConocoPhillips	$468,000	–	6,717	–	0.15%	–
DUK	New	Duke Energy	$463,000	–	5,855	–	0.15%	–
K	New	Kellogg Company	$454,000	–	6,493	–	0.14%	–
HIG	New	Hartford Financial	$435,000	–	8,500	–	0.14%	–
APD	New	Air Products	$357,000	–	2,294	–	0.11%	–
SHW	New	Sherwin Williams	$326,000	–	800	–	0.10%	–
RDSA	New	Royal DutchShell Class A (ADR)	$319,000	–	4,606	–	0.10%	–
NSC	New	Norfolk Southern	$287,000	–	1,900	–	0.09%	–
ORCL	New	Oracle	$269,000	–	6,100	–	0.08%	–
MANH	New	Manhattan Associates	$261,000	–	5,550	–	0.08%	–
LLY	New	Eli Lilly	$242,000	–	2,840	–	0.08%	–
BMY	New	Bristol Myers Squibb	$208,000	–	3,754	–	0.06%	–

Q4 2017

			Value		Shares		↓ Weighting
MANH	Exit	Manhattan Associates	$0	–	-5,100	–	-0.06%	–
LLY	Exit	Eli Lilly	$0	–	-2,840	–	-0.07%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-4,261	–	-0.08%	–
SHW	Exit	Sherwin Williams	$0	–	-800	–	-0.09%	–
NSC	Exit	Norfolk Southern	$0	–	-2,200	–	-0.09%	–
RDSA	Exit	Royal DutchShell Class A ADR	$0	–	-4,906	–	-0.09%	–
APD	Exit	Air Products	$0	–	-2,294	–	-0.11%	–
ORCL	Exit	Oracle	$0	–	-7,200	–	-0.11%	–
K	Exit	Kellogg Company	$0	–	-6,493	–	-0.12%	–
COP	Exit	ConocoPhillips	$0	–	-9,152	–	-0.14%	–
CVX	Exit	Chevron	$0	–	-4,815	–	-0.17%	–
HIG	Exit	Hartford Financial	$0	–	-10,400	–	-0.18%	–
DUK	Exit	Duke Energy	$0	–	-7,486	–	-0.19%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.21%	–
MSFT	Exit	Microsoft	$0	–	-10,495	–	-0.24%	–
AMGN	Exit	Amgen	$0	–	-4,275	–	-0.24%	–
BWFG	Exit	Bankwell Financial	$0	–	-22,165	–	-0.25%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.25%	–
MMC	Exit	Marsh & McLennan	$0	–	-10,000	–	-0.26%	–
NGG	Exit	National Grid	$0	–	-13,750	–	-0.26%	–
PSX	Exit	Phillips 66	$0	–	-9,663	–	-0.27%	–
HD	Exit	Home Depot	$0	–	-6,103	–	-0.30%	–
TWX	Exit	Time Warner Inc.	$0	–	-10,000	–	-0.31%	–
CERN	Exit	Cerner Corp	$0	–	-15,225	–	-0.33%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-13,150	–	-0.38%	–
RHT	Exit	Red Hat Inc.	$0	–	-11,935	–	-0.40%	–
UNP	Exit	Union Pacific	$0	–	-11,875	–	-0.42%	–
NEE	Exit	NextEra Energy, Inc.	$0	–	-9,445	–	-0.42%	–
DIS	Exit	Walt Disney	$0	–	-14,450	–	-0.43%	–
ANSS	Exit	Ansys Inc.	$0	–	-12,530	–	-0.47%	–
CMCSA	Exit	Comcast Corp	$0	–	-40,000	–	-0.47%	–
VZ	Exit	Verizon	$0	–	-33,894	–	-0.51%	–
UTX	Exit	United Technologies	$0	–	-14,975	–	-0.53%	–
KO	Exit	Coca Cola	$0	–	-40,000	–	-0.55%	–
IBM	Exit	International Business Machine	$0	–	-14,240	–	-0.63%	–
WY	Exit	Weyerhaeuser	$0	–	-80,050	–	-0.83%	–
CSCO	Exit	Cisco Systems	$0	–	-85,021	–	-0.87%	–
STT	Exit	State Street	$0	–	-30,100	–	-0.88%	–
AZPN	Exit	Aspen Technology, Inc	$0	–	-49,550	–	-0.95%	–
LOGM	Exit	LogMeIn Inc.	$0	–	-28,685	–	-0.96%	–
GE	Exit	General Electric	$0	–	-131,178	–	-0.96%	–
T	Exit	AT&T	$0	–	-111,149	–	-1.32%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-59,295	–	-1.39%	–
XOM	Exit	Exxon Mobil	$0	–	-57,220	–	-1.43%	–
AMT	Exit	American Tower	$0	–	-35,200	–	-1.46%	–
FAST	Exit	Fastenal	$0	–	-107,675	–	-1.49%	–
CL	Exit	Colgate Palmolive	$0	–	-68,050	–	-1.51%	–
CLX	Exit	Clorox	$0	–	-41,448	–	-1.66%	–
HSY	Exit	Hershey Foods	$0	–	-59,478	–	-1.98%	–
FFIV	Exit	F5 Networks	$0	–	-57,760	–	-2.12%	–
TRMB	Exit	Trimble	$0	–	-178,475	–	-2.13%	–
PEP	Exit	PepsiCo	$0	–	-63,497	–	-2.15%	–
CB	Exit	Chubb Limited	$0	–	-50,018	–	-2.17%	–
ACN	Exit	Accenture	$0	–	-53,015	–	-2.18%	–
EMR	Exit	Emerson Electric	$0	–	-114,440	–	-2.19%	–
MDT	Exit	Medtronic PLC	$0	–	-94,150	–	-2.23%	–
GIS	Exit	General Mills	$0	–	-144,875	–	-2.28%	–
ESRX	Exit	Express Scripts	$0	–	-119,686	–	-2.31%	–
SLB	Exit	Schlumberger Ltd	$0	–	-115,385	–	-2.45%	–
UPS	Exit	United Parcel Service	$0	–	-71,675	–	-2.62%	–
ADP	Exit	Automatic Data Processing	$0	–	-81,876	–	-2.72%	–
PFE	Exit	Pfizer	$0	–	-272,042	–	-2.96%	–
BP	Exit	BP P.L.C.	$0	–	-262,708	–	-3.07%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-117,690	–	-3.07%	–
MMM	Exit	3M	$0	–	-49,678	–	-3.17%	–
JNJ	Exit	Johnson & Johnson	$0	–	-81,851	–	-3.24%	–
IFF	Exit	International Flavors & Fragra	$0	–	-75,660	–	-3.29%	–
PG	Exit	Procter & Gamble	$0	–	-119,534	–	-3.31%	–
SYY	Exit	Sysco	$0	–	-203,515	–	-3.34%	–
NTRS	Exit	Northern Trust	$0	–	-127,055	–	-3.55%	–
INTC	Exit	Intel	$0	–	-307,652	–	-3.56%	–
NEM	Exit	Newmont Mining	$0	–	-358,235	–	-4.09%	–
MRK	Exit	Merck	$0	–	-213,829	–	-4.16%	–
DWDP	Exit	DowDuPont	$0	–	-204,637	–	-4.31%	–

Q3 2017

			Value		Shares		↓ Weighting
DWDP	New	DowDuPont	$14,167,000	–	204,637	–	4.31%	–
MRK	Buy	Merck	$13,691,000	+0.8%	213,829	+0.9%	4.16%	-3.5%
NEM	Buy	Newmont Mining	$13,437,000	+16.1%	358,235	+0.2%	4.09%	+11.1%
INTC	Buy	Intel	$11,715,000	+14.0%	307,652	+1.0%	3.56%	+9.1%
NTRS	Sell	Northern Trust	$11,680,000	-5.8%	127,055	-0.4%	3.55%	-9.9%
SYY	Sell	Sysco	$10,980,000	+7.1%	203,515	-0.1%	3.34%	+2.5%
PG	Sell	Procter & Gamble	$10,875,000	+4.2%	119,534	-0.2%	3.31%	-0.3%
IFF	Sell	International Flavors & Fragra	$10,813,000	+3.5%	75,660	-2.2%	3.29%	-0.9%
JNJ	Sell	Johnson & Johnson	$10,641,000	-2.3%	81,851	-0.6%	3.24%	-6.6%
MMM	Sell	3M	$10,427,000	-3.2%	49,678	-3.9%	3.17%	-7.3%
NVS	Buy	Novartis AG (ADR)	$10,104,000	+2.9%	117,690	+0.1%	3.07%	-1.5%
BP	Buy	BP P.L.C.	$10,096,000	+14.0%	262,708	+2.8%	3.07%	+9.1%
PFE	Sell	Pfizer	$9,712,000	+6.1%	272,042	-0.1%	2.96%	+1.6%
ADP	Sell	Automatic Data Processing	$8,951,000	+5.1%	81,876	-1.5%	2.72%	+0.6%
SLB	Buy	Schlumberger Ltd	$8,049,000	+9.9%	115,385	+3.7%	2.45%	+5.2%
ESRX	Buy	Express Scripts	$7,579,000	-0.4%	119,686	+0.4%	2.31%	-4.7%
GIS	Buy	General Mills	$7,499,000	-0.8%	144,875	+6.1%	2.28%	-5.2%
MDT	Buy	Medtronic PLC	$7,322,000	-8.3%	94,150	+4.6%	2.23%	-12.2%
EMR	Buy	Emerson Electric	$7,191,000	+7.4%	114,440	+1.9%	2.19%	+2.8%
ACN	Sell	Accenture	$7,161,000	+5.7%	53,015	-3.2%	2.18%	+1.2%
CB	Sell	Chubb Limited	$7,130,000	-3.5%	50,018	-1.6%	2.17%	-7.6%
PEP	Sell	PepsiCo	$7,075,000	-4.1%	63,497	-0.5%	2.15%	-8.2%
TRMB	Sell	Trimble	$7,005,000	+9.6%	178,475	-0.4%	2.13%	+4.9%
FFIV	Buy	F5 Networks	$6,964,000	-3.9%	57,760	+1.3%	2.12%	-8.0%
HSY	Sell	Hershey Foods	$6,493,000	-1.9%	59,478	-3.5%	1.98%	-6.1%
CLX	Sell	Clorox	$5,467,000	-16.8%	41,448	-15.9%	1.66%	-20.4%
CL	Sell	Colgate Palmolive	$4,957,000	-5.6%	68,050	-4.0%	1.51%	-9.7%
FAST	Buy	Fastenal	$4,908,000	+94.8%	107,675	+86.0%	1.49%	+86.4%
AMT	Sell	American Tower	$4,811,000	+2.3%	35,200	-1.0%	1.46%	-2.1%
XOM	Buy	Exxon Mobil	$4,691,000	+2.4%	57,220	+0.9%	1.43%	-2.0%
WBA	Buy	Walgreens Boots Alliance	$4,579,000	-1.1%	59,295	+0.3%	1.39%	-5.4%
T	Sell	AT&T	$4,354,000	-8.1%	111,149	-11.5%	1.32%	-12.0%
GE	Sell	General Electric	$3,172,000	-11.6%	131,178	-1.2%	0.96%	-15.4%
LOGM	Buy	LogMeIn Inc.	$3,157,000	+130.3%	28,685	+118.7%	0.96%	+120.2%
AZPN	Sell	Aspen Technology, Inc	$3,112,000	+13.0%	49,550	-0.6%	0.95%	+8.1%
CSCO	Sell	Cisco Systems	$2,859,000	+6.8%	85,021	-0.6%	0.87%	+2.2%
WY	Buy	Weyerhaeuser	$2,724,000	+535.0%	80,050	+525.4%	0.83%	+509.6%
IBM	Buy	International Business Machine	$2,066,000	-5.4%	14,240	+0.2%	0.63%	-9.5%
KO	Sell	Coca Cola	$1,800,000	-0.2%	40,000	-0.5%	0.55%	-4.4%
VZ	Sell	Verizon	$1,677,000	+9.7%	33,894	-1.0%	0.51%	+4.9%
JPM	Sell	J.P. Morgan Chase	$1,256,000	-0.1%	13,150	-4.4%	0.38%	-4.5%
PSX	Buy	Phillips 66	$885,000	+11.0%	9,663	+0.2%	0.27%	+6.3%
MSFT	Buy	Microsoft	$782,000	+12.4%	10,495	+3.9%	0.24%	+7.7%
CVX	Sell	Chevron	$566,000	+3.1%	4,815	-8.5%	0.17%	-1.7%
K	Sell	Kellogg Company	$405,000	-11.2%	6,493	-1.1%	0.12%	-15.2%
APD	Sell	Air Products	$347,000	-24.2%	2,294	-28.3%	0.11%	-27.4%
BMY	Buy	Bristol Myers Squibb	$272,000	+21.4%	4,261	+6.1%	0.08%	+16.9%
MANH	New	Manhattan Associates	$212,000	–	5,100	–	0.06%	–
AGN	Exit	Allergan	$0	–	-900	–	-0.07%	–
SPLS	Exit	Staples	$0	–	-40,000	–	-0.13%	–
DD	Exit	DuPont	$0	–	-23,361	–	-0.60%	–
DOW	Exit	Dow Chemical	$0	–	-175,900	–	-3.53%	–

Q2 2017

			Value		Shares		↓ Weighting
MRK	New	Merck	$13,577,000	–	211,849	–	4.32%	–
NTRS	New	Northern Trust	$12,403,000	–	127,585	–	3.94%	–
NEM	New	Newmont Mining	$11,575,000	–	357,375	–	3.68%	–
DOW	New	Dow Chemical	$11,094,000	–	175,900	–	3.53%	–
JNJ	New	Johnson & Johnson	$10,894,000	–	82,351	–	3.46%	–
MMM	New	3M	$10,767,000	–	51,718	–	3.42%	–
IFF	New	International Flavors & Fragra	$10,446,000	–	77,380	–	3.32%	–
PG	New	Procter & Gamble	$10,435,000	–	119,734	–	3.32%	–
INTC	New	Intel	$10,274,000	–	304,517	–	3.27%	–
SYY	New	Sysco	$10,256,000	–	203,775	–	3.26%	–
NVS	New	Novartis AG (ADR)	$9,815,000	–	117,590	–	3.12%	–
PFE	New	Pfizer	$9,150,000	–	272,394	–	2.91%	–
BP	New	BP P.L.C.	$8,859,000	–	255,668	–	2.82%	–
ADP	New	Automatic Data Processing	$8,515,000	–	83,106	–	2.71%	–
MDT	New	Medtronic PLC	$7,987,000	–	90,000	–	2.54%	–
UPS	New	United Parcel Service	$7,927,000	–	71,675	–	2.52%	–
ESRX	New	Express Scripts	$7,608,000	–	119,166	–	2.42%	–
GIS	New	General Mills	$7,563,000	–	136,525	–	2.40%	–
CB	New	Chubb Limited	$7,386,000	–	50,806	–	2.35%	–
PEP	New	PepsiCo	$7,374,000	–	63,847	–	2.34%	–
SLB	New	Schlumberger Ltd	$7,324,000	–	111,235	–	2.33%	–
FFIV	New	F5 Networks	$7,244,000	–	57,010	–	2.30%	–
ACN	New	Accenture	$6,773,000	–	54,765	–	2.15%	–
EMR	New	Emerson Electric	$6,695,000	–	112,290	–	2.13%	–
HSY	New	Hershey Foods	$6,617,000	–	61,628	–	2.10%	–
CLX	New	Clorox	$6,569,000	–	49,303	–	2.09%	–
TRMB	New	Trimble	$6,391,000	–	179,175	–	2.03%	–
CL	New	Colgate Palmolive	$5,252,000	–	70,850	–	1.67%	–
T	New	AT&T	$4,737,000	–	125,545	–	1.51%	–
AMT	New	American Tower	$4,704,000	–	35,550	–	1.50%	–
WBA	New	Walgreens Boots Alliance	$4,632,000	–	59,145	–	1.47%	–
XOM	New	Exxon Mobil	$4,579,000	–	56,720	–	1.46%	–
GE	New	General Electric	$3,587,000	–	132,818	–	1.14%	–
AZPN	New	Aspen Technology, Inc	$2,755,000	–	49,850	–	0.88%	–
STT	New	State Street	$2,701,000	–	30,100	–	0.86%	–
CSCO	New	Cisco Systems	$2,678,000	–	85,570	–	0.85%	–
FAST	New	Fastenal	$2,519,000	–	57,875	–	0.80%	–
IBM	New	International Business Machine	$2,185,000	–	14,205	–	0.70%	–
DD	New	DuPont	$1,885,000	–	23,361	–	0.60%	–
UTX	New	United Technologies	$1,829,000	–	14,975	–	0.58%	–
KO	New	Coca Cola	$1,803,000	–	40,200	–	0.57%	–
CMCSA	New	Comcast Corp	$1,557,000	–	40,000	–	0.50%	–
DIS	New	Walt Disney	$1,535,000	–	14,450	–	0.49%	–
VZ	New	Verizon	$1,529,000	–	34,244	–	0.49%	–
ANSS	New	Ansys Inc.	$1,525,000	–	12,530	–	0.48%	–
LOGM	New	LogMeIn Inc.	$1,371,000	–	13,115	–	0.44%	–
NEE	New	NextEra Energy, Inc.	$1,324,000	–	9,445	–	0.42%	–
UNP	New	Union Pacific	$1,293,000	–	11,875	–	0.41%	–
JPM	New	J.P. Morgan Chase	$1,257,000	–	13,750	–	0.40%	–
RHT	New	Red Hat Inc.	$1,143,000	–	11,935	–	0.36%	–
CERN	New	Cerner Corp	$1,012,000	–	15,225	–	0.32%	–
TWX	New	Time Warner Inc.	$1,004,000	–	10,000	–	0.32%	–
HD	New	Home Depot	$936,000	–	6,103	–	0.30%	–
NGG	New	National Grid	$864,000	–	13,750	–	0.28%	–
PSX	New	Phillips 66	$797,000	–	9,644	–	0.25%	–
MMC	New	Marsh & McLennan	$780,000	–	10,000	–	0.25%	–
BRKA	New	Berkshire Hathaway Class A (3	$764,000	–	300	–	0.24%	–
AMGN	New	Amgen	$736,000	–	4,275	–	0.23%	–
MSFT	New	Microsoft	$696,000	–	10,100	–	0.22%	–
BWFG	New	Bankwell Financial	$692,000	–	22,165	–	0.22%	–
UBA	New	Urstadt Biddle Properties Inc	$633,000	–	31,950	–	0.20%	–
DUK	New	Duke Energy	$626,000	–	7,486	–	0.20%	–
CVX	New	Chevron	$549,000	–	5,265	–	0.18%	–
HIG	New	Hartford Financial	$547,000	–	10,400	–	0.17%	–
APD	New	Air Products	$458,000	–	3,200	–	0.15%	–
K	New	Kellogg Company	$456,000	–	6,567	–	0.14%	–
WY	New	Weyerhaeuser	$429,000	–	12,800	–	0.14%	–
COP	New	ConocoPhillips	$402,000	–	9,152	–	0.13%	–
SPLS	New	Staples	$403,000	–	40,000	–	0.13%	–
ORCL	New	Oracle	$361,000	–	7,200	–	0.12%	–
SHW	New	Sherwin Williams	$281,000	–	800	–	0.09%	–
NSC	New	Norfolk Southern	$268,000	–	2,200	–	0.08%	–
RDSA	New	Royal DutchShell Class A ADR	$261,000	–	4,906	–	0.08%	–
LLY	New	Eli Lilly	$234,000	–	2,840	–	0.07%	–
BMY	New	Bristol Myers Squibb	$224,000	–	4,017	–	0.07%	–
AGN	New	Allergan	$219,000	–	900	–	0.07%	–

Q4 2016

			Value		Shares		↓ Weighting
NSC	Exit	Norfolk Southern	$0	–	-2,200	–	-0.07%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-4,367	–	-0.08%	–
RDSA	Exit	Royal DutchShell Class A ADR	$0	–	-4,906	–	-0.08%	–
SHW	Exit	Sherwin Williams	$0	–	-900	–	-0.08%	–
AGN	Exit	Allergan	$0	–	-1,115	–	-0.09%	–
RHT	Exit	Red Hat Inc.	$0	–	-3,310	–	-0.09%	–
LLY	Exit	Eli Lilly	$0	–	-3,735	–	-0.10%	–
ORCL	Exit	Oracle	$0	–	-8,500	–	-0.11%	–
SPLS	Exit	Staples	$0	–	-44,000	–	-0.13%	–
CHTR	Exit	Charter Communications	$0	–	-1,473	–	-0.13%	–
COP	Exit	ConocoPhillips	$0	–	-9,152	–	-0.13%	–
WY	Exit	Weyerhaeuser	$0	–	-12,800	–	-0.14%	–
K	Exit	Kellogg Company	$0	–	-6,567	–	-0.17%	–
BWFG	Exit	Bankwell Financial	$0	–	-22,165	–	-0.18%	–
CVX	Exit	Chevron	$0	–	-5,355	–	-0.18%	–
DUK	Exit	Duke Energy	$0	–	-7,486	–	-0.20%	–
MSFT	Exit	Microsoft	$0	–	-10,700	–	-0.21%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.22%	–
MMC	Exit	Marsh & McLennan	$0	–	-10,000	–	-0.23%	–
AMGN	Exit	Amgen	$0	–	-4,075	–	-0.23%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.24%	–
ANSS	Exit	Ansys Inc.	$0	–	-7,725	–	-0.24%	–
HIG	Exit	Hartford Financial	$0	–	-17,348	–	-0.25%	–
PSX	Exit	Phillips 66	$0	–	-9,644	–	-0.26%	–
HD	Exit	Home Depot	$0	–	-6,103	–	-0.26%	–
TWX	Exit	Time Warner Inc.	$0	–	-11,999	–	-0.32%	–
NGG	Exit	National Grid	$0	–	-15,000	–	-0.36%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-16,626	–	-0.37%	–
UNP	Exit	Union Pacific	$0	–	-11,975	–	-0.39%	–
NEE	Exit	NextEra Energy, Inc.	$0	–	-9,545	–	-0.39%	–
FAST	Exit	Fastenal	$0	–	-31,000	–	-0.44%	–
CMCSA	Exit	Comcast Corp	$0	–	-22,100	–	-0.49%	–
UTX	Exit	United Technologies	$0	–	-14,975	–	-0.51%	–
DD	Exit	DuPont	$0	–	-23,361	–	-0.52%	–
DIS	Exit	Walt Disney	$0	–	-18,500	–	-0.58%	–
KO	Exit	Coca Cola	$0	–	-42,150	–	-0.60%	–
VZ	Exit	Verizon	$0	–	-35,394	–	-0.62%	–
CSCO	Exit	Cisco Systems	$0	–	-72,965	–	-0.78%	–
AZPN	Exit	Aspen Technology, Inc	$0	–	-49,850	–	-0.78%	–
STT	Exit	State Street	$0	–	-36,180	–	-0.84%	–
IBM	Exit	International Business Machine	$0	–	-17,295	–	-0.92%	–
GE	Exit	General Electric	$0	–	-125,633	–	-1.25%	–
AMT	Exit	American Tower	$0	–	-35,700	–	-1.36%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-54,325	–	-1.47%	–
XOM	Exit	Exxon Mobil	$0	–	-52,362	–	-1.53%	–
TRMB	Exit	Trimble	$0	–	-175,125	–	-1.68%	–
MDT	Exit	Medtronic PLC	$0	–	-61,448	–	-1.78%	–
CL	Exit	Colgate Palmolive	$0	–	-74,480	–	-1.85%	–
T	Exit	AT&T	$0	–	-138,820	–	-1.89%	–
EMR	Exit	Emerson Electric	$0	–	-103,835	–	-1.90%	–
HSY	Exit	Hershey Foods	$0	–	-62,718	–	-2.01%	–
CLX	Exit	Clorox	$0	–	-48,888	–	-2.05%	–
CB	Exit	Chubb Limited	$0	–	-49,904	–	-2.10%	–
PEP	Exit	PepsiCo	$0	–	-61,947	–	-2.26%	–
ACN	Exit	Accenture	$0	–	-55,990	–	-2.30%	–
FFIV	Exit	F5 Networks	$0	–	-55,160	–	-2.31%	–
ESRX	Exit	Express Scripts	$0	–	-104,162	–	-2.46%	–
GIS	Exit	General Mills	$0	–	-116,420	–	-2.50%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-94,340	–	-2.50%	–
ADP	Exit	Automatic Data Processing	$0	–	-85,876	–	-2.54%	–
UPS	Exit	United Parcel Service	$0	–	-70,290	–	-2.58%	–
SLB	Exit	Schlumberger Ltd	$0	–	-98,040	–	-2.59%	–
BP	Exit	BP P.L.C.	$0	–	-238,492	–	-2.81%	–
NTRS	Exit	Northern Trust	$0	–	-125,575	–	-2.86%	–
PFE	Exit	Pfizer	$0	–	-257,473	–	-2.93%	–
LLTC	Exit	Linear Technology	$0	–	-149,580	–	-2.98%	–
DOW	Exit	Dow Chemical	$0	–	-173,520	–	-3.02%	–
JNJ	Exit	Johnson & Johnson	$0	–	-79,459	–	-3.15%	–
MMM	Exit	3M	$0	–	-54,968	–	-3.25%	–
SYY	Exit	Sysco	$0	–	-198,375	–	-3.26%	–
INTC	Exit	Intel	$0	–	-288,977	–	-3.66%	–
PG	Exit	Procter & Gamble	$0	–	-121,549	–	-3.66%	–
IFF	Exit	International Flavors & Fragra	$0	–	-78,285	–	-3.76%	–
MRK	Exit	Merck	$0	–	-206,304	–	-4.32%	–
NEM	Exit	Newmont Mining	$0	–	-334,500	–	-4.41%	–

Q3 2016

			Value		Shares		↓ Weighting
NEM	Buy	Newmont Mining	$13,143,000	+0.6%	334,500	+0.1%	4.41%	-0.3%
MRK	Buy	Merck	$12,875,000	+8.4%	206,304	+0.0%	4.32%	+7.4%
IFF	Sell	International Flavors & Fragra	$11,192,000	+10.2%	78,285	-2.9%	3.76%	+9.2%
PG	Sell	Procter & Gamble	$10,909,000	+5.4%	121,549	-0.6%	3.66%	+4.4%
INTC	Sell	Intel	$10,909,000	+14.8%	288,977	-0.2%	3.66%	+13.8%
SYY	Sell	Sysco	$9,722,000	-5.3%	198,375	-2.0%	3.26%	-6.2%
MMM	Sell	3M	$9,687,000	+0.4%	54,968	-0.3%	3.25%	-0.5%
JNJ	Sell	Johnson & Johnson	$9,386,000	-3.9%	79,459	-1.3%	3.15%	-4.7%
DOW	Buy	Dow Chemical	$8,994,000	+4.5%	173,520	+0.2%	3.02%	+3.6%
LLTC	Sell	Linear Technology	$8,869,000	+27.0%	149,580	-0.3%	2.98%	+25.9%
PFE	Buy	Pfizer	$8,721,000	-3.0%	257,473	+0.8%	2.93%	-3.8%
NTRS	Buy	Northern Trust	$8,538,000	+5.7%	125,575	+3.1%	2.86%	+4.8%
BP	Buy	BP P.L.C.	$8,385,000	+2.8%	238,492	+3.9%	2.81%	+1.9%
SLB	Buy	Schlumberger Ltd	$7,710,000	+1.1%	98,040	+1.7%	2.59%	+0.2%
UPS	Sell	United Parcel Service	$7,687,000	+1.3%	70,290	-0.2%	2.58%	+0.4%
ADP	Sell	Automatic Data Processing	$7,574,000	-4.3%	85,876	-0.3%	2.54%	-5.1%
NVS	Buy	Novartis AG (ADR)	$7,449,000	-4.1%	94,340	+0.2%	2.50%	-4.9%
GIS	Sell	General Mills	$7,437,000	-12.8%	116,420	-2.7%	2.50%	-13.6%
ESRX	Buy	Express Scripts	$7,347,000	-6.1%	104,162	+0.9%	2.46%	-6.9%
ACN	Sell	Accenture	$6,840,000	+7.3%	55,990	-0.5%	2.30%	+6.3%
PEP	Sell	PepsiCo	$6,738,000	+2.3%	61,947	-0.3%	2.26%	+1.4%
CB	Sell	Chubb Limited	$6,270,000	-4.3%	49,904	-0.5%	2.10%	-5.2%
CLX	Sell	Clorox	$6,120,000	-10.8%	48,888	-1.4%	2.05%	-11.6%
HSY	Sell	Hershey Foods	$5,996,000	-16.2%	62,718	-0.5%	2.01%	-16.9%
EMR	Buy	Emerson Electric	$5,660,000	+5.6%	103,835	+1.1%	1.90%	+4.7%
T	Sell	AT&T	$5,637,000	-7.0%	138,820	-1.0%	1.89%	-7.8%
CL	Sell	Colgate Palmolive	$5,522,000	+0.9%	74,480	-0.4%	1.85%	0.0%
TRMB	Buy	Trimble	$5,002,000	+17.4%	175,125	+0.1%	1.68%	+16.4%
WBA	Sell	Walgreens Boots Alliance	$4,380,000	-3.2%	54,325	-0.0%	1.47%	-4.0%
GE	Sell	General Electric	$3,721,000	-6.1%	125,633	-0.2%	1.25%	-6.9%
AZPN	Buy	Aspen Technology, Inc	$2,332,000	+17.7%	49,850	+1.2%	0.78%	+16.7%
CSCO	Sell	Cisco Systems	$2,314,000	+10.5%	72,965	-0.0%	0.78%	+9.6%
FAST	Buy	Fastenal	$1,295,000	+3.1%	31,000	+9.5%	0.44%	+2.4%
NEE	Sell	NextEra Energy, Inc.	$1,168,000	-8.1%	9,545	-2.1%	0.39%	-8.8%
CVX	Sell	Chevron	$551,000	-2.0%	5,355	-0.2%	0.18%	-2.6%
LLY	Sell	Eli Lilly	$300,000	+1.7%	3,735	-0.1%	0.10%	+1.0%
RHT	New	Red Hat Inc.	$268,000	–	3,310	–	0.09%	–
BMY	Sell	Bristol Myers Squibb	$235,000	-45.6%	4,367	-25.6%	0.08%	-45.9%
NSC	New	Norfolk Southern	$214,000	–	2,200	–	0.07%	–
STR	Exit	Questar	$0	–	-28,360	–	-0.24%	–
FEIC	Exit	FEI Company	$0	–	-8,050	–	-0.29%	–

Q2 2016

			Value		Shares		↓ Weighting
NEM	New	Newmont Mining	$13,070,000	–	334,100	–	4.42%	–
MRK	New	Merck	$11,882,000	–	206,254	–	4.02%	–
PG	New	Procter & Gamble	$10,355,000	–	122,298	–	3.51%	–
SYY	New	Sysco	$10,269,000	–	202,375	–	3.48%	–
IFF	New	International Flavors & Fragra	$10,160,000	–	80,592	–	3.44%	–
JNJ	New	Johnson & Johnson	$9,768,000	–	80,530	–	3.31%	–
MMM	New	3M	$9,652,000	–	55,118	–	3.27%	–
INTC	New	Intel	$9,500,000	–	289,627	–	3.22%	–
PFE	New	Pfizer	$8,991,000	–	255,340	–	3.04%	–
DOW	New	Dow Chemical	$8,605,000	–	173,095	–	2.91%	–
GIS	New	General Mills	$8,529,000	–	119,590	–	2.89%	–
BP	New	BP P.L.C.	$8,155,000	–	229,642	–	2.76%	–
NTRS	New	Northern Trust	$8,074,000	–	121,850	–	2.73%	–
ADP	New	Automatic Data Processing	$7,913,000	–	86,131	–	2.68%	–
ESRX	New	Express Scripts	$7,822,000	–	103,187	–	2.65%	–
NVS	New	Novartis AG (ADR)	$7,768,000	–	94,150	–	2.63%	–
SLB	New	Schlumberger Ltd	$7,623,000	–	96,400	–	2.58%	–
UPS	New	United Parcel Service	$7,589,000	–	70,450	–	2.57%	–
HSY	New	Hershey Foods	$7,152,000	–	63,018	–	2.42%	–
LLTC	New	Linear Technology	$6,981,000	–	150,035	–	2.36%	–
CLX	New	Clorox	$6,862,000	–	49,588	–	2.32%	–
PEP	New	PepsiCo	$6,584,000	–	62,147	–	2.23%	–
CB	New	Chubb Limited	$6,555,000	–	50,148	–	2.22%	–
ACN	New	Accenture	$6,374,000	–	56,265	–	2.16%	–
FFIV	New	F5 Networks	$6,279,000	–	55,160	–	2.13%	–
T	New	AT&T	$6,061,000	–	140,270	–	2.05%	–
CL	New	Colgate Palmolive	$5,472,000	–	74,750	–	1.85%	–
EMR	New	Emerson Electric	$5,359,000	–	102,740	–	1.81%	–
MDT	New	Medtronic PLC	$5,332,000	–	61,448	–	1.80%	–
XOM	New	Exxon Mobil	$4,908,000	–	52,362	–	1.66%	–
WBA	New	Walgreens Boots Alliance	$4,525,000	–	54,345	–	1.53%	–
TRMB	New	Trimble Navigation	$4,261,000	–	174,925	–	1.44%	–
AMT	New	American Tower	$4,056,000	–	35,700	–	1.37%	–
GE	New	General Electric	$3,964,000	–	125,933	–	1.34%	–
IBM	New	International Business Machine	$2,625,000	–	17,295	–	0.89%	–
CSCO	New	Cisco Systems	$2,094,000	–	72,970	–	0.71%	–
AZPN	New	Aspen Technology, Inc	$1,982,000	–	49,250	–	0.67%	–
VZ	New	Verizon	$1,976,000	–	35,394	–	0.67%	–
STT	New	State Street	$1,951,000	–	36,180	–	0.66%	–
KO	New	Coca Cola	$1,911,000	–	42,150	–	0.65%	–
DIS	New	Walt Disney	$1,810,000	–	18,500	–	0.61%	–
UTX	New	United Technologies	$1,536,000	–	14,975	–	0.52%	–
DD	New	DuPont	$1,514,000	–	23,361	–	0.51%	–
CMCSA	New	Comcast Corp	$1,441,000	–	22,100	–	0.49%	–
NEE	New	NextEra Energy, Inc.	$1,271,000	–	9,745	–	0.43%	–
FAST	New	Fastenal	$1,256,000	–	28,300	–	0.42%	–
NGG	New	National Grid	$1,115,000	–	15,000	–	0.38%	–
UNP	New	Union Pacific	$1,045,000	–	11,975	–	0.35%	–
JPM	New	J.P. Morgan Chase	$1,033,000	–	16,626	–	0.35%	–
TWX	New	Time Warner Inc.	$882,000	–	11,999	–	0.30%	–
FEIC	New	FEI Company	$860,000	–	8,050	–	0.29%	–
UBA	New	Urstadt Biddle Properties Inc	$792,000	–	31,950	–	0.27%	–
HD	New	Home Depot	$779,000	–	6,103	–	0.26%	–
HIG	New	Hartford Financial	$770,000	–	17,348	–	0.26%	–
PSX	New	Phillips 66	$765,000	–	9,644	–	0.26%	–
STR	New	Questar	$719,000	–	28,360	–	0.24%	–
ANSS	New	Ansys Inc.	$701,000	–	7,725	–	0.24%	–
MMC	New	Marsh & McLennan	$685,000	–	10,000	–	0.23%	–
BRKA	New	Berkshire Hathaway Class A (3	$651,000	–	300	–	0.22%	–
DUK	New	Duke Energy	$642,000	–	7,486	–	0.22%	–
AMGN	New	Amgen	$620,000	–	4,075	–	0.21%	–
CVX	New	Chevron	$562,000	–	5,365	–	0.19%	–
MSFT	New	Microsoft	$548,000	–	10,700	–	0.19%	–
K	New	Kellogg Company	$536,000	–	6,567	–	0.18%	–
BWFG	New	Bankwell Financial	$489,000	–	22,165	–	0.17%	–
BMY	New	Bristol Myers Squibb	$432,000	–	5,867	–	0.15%	–
COP	New	ConocoPhillips	$399,000	–	9,152	–	0.14%	–
WY	New	Weyerhaeuser	$381,000	–	12,800	–	0.13%	–
SPLS	New	Staples	$379,000	–	44,000	–	0.13%	–
ORCL	New	Oracle	$348,000	–	8,500	–	0.12%	–
CHTR	New	Charter Communications	$337,000	–	1,473	–	0.11%	–
LLY	New	Eli Lilly	$295,000	–	3,740	–	0.10%	–
RDSA	New	Royal DutchShell Class A ADR	$271,000	–	4,906	–	0.09%	–
SHW	New	Sherwin Williams	$264,000	–	900	–	0.09%	–
AGN	New	Allergan	$258,000	–	1,115	–	0.09%	–

Q4 2015

			Value		Shares		↓ Weighting
SHW	Exit	Sherwin Williams	$0	–	-1,000	–	-0.08%	–
CSX	Exit	CSX	$0	–	-9,150	–	-0.09%	–
AGN	Exit	Allergan	$0	–	-1,115	–	-0.12%	–
PCL	Exit	Plum Creek Timber	$0	–	-8,000	–	-0.12%	–
ORCL	Exit	Oracle	$0	–	-9,205	–	-0.13%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-5,652	–	-0.13%	–
RDSA	Exit	Royal DutchShell Class A ADR	$0	–	-7,589	–	-0.14%	–
LLY	Exit	Eli Lilly	$0	–	-4,790	–	-0.15%	–
BWFG	Exit	Bankwell Financial	$0	–	-22,165	–	-0.16%	–
K	Exit	Kellogg Company	$0	–	-6,567	–	-0.17%	–
CVX	Exit	Chevron	$0	–	-5,740	–	-0.17%	–
MMC	Exit	Marsh & McLennan	$0	–	-10,000	–	-0.20%	–
MSFT	Exit	Microsoft	$0	–	-11,800	–	-0.20%	–
TWC	Exit	Time Warner Cable	$0	–	-3,012	–	-0.21%	–
AMGN	Exit	Amgen	$0	–	-4,000	–	-0.21%	–
SPLS	Exit	Staples	$0	–	-47,500	–	-0.21%	–
DUK	Exit	Duke Energy	$0	–	-8,096	–	-0.22%	–
FAST	Exit	Fastenal	$0	–	-15,935	–	-0.22%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.22%	–
BXP	Exit	Boston Properties	$0	–	-5,000	–	-0.23%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.23%	–
UNP	Exit	Union Pacific	$0	–	-7,200	–	-0.24%	–
HD	Exit	Home Depot	$0	–	-6,003	–	-0.26%	–
STR	Exit	Questar	$0	–	-36,150	–	-0.27%	–
PSX	Exit	Phillips 66	$0	–	-10,544	–	-0.31%	–
TWX	Exit	Time Warner Inc.	$0	–	-11,999	–	-0.32%	–
HIG	Exit	Hartford Financial	$0	–	-20,650	–	-0.36%	–
NEE	Exit	NextEra Energy, Inc.	$0	–	-9,745	–	-0.36%	–
NGG	Exit	National Grid	$0	–	-15,000	–	-0.40%	–
DD	Exit	DuPont	$0	–	-23,661	–	-0.44%	–
UTX	Exit	United Technologies	$0	–	-15,025	–	-0.51%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-23,250	–	-0.54%	–
CMCSK	Exit	Comcast Corp Cl A Spl	$0	–	-28,000	–	-0.61%	–
KO	Exit	Coca Cola	$0	–	-43,250	–	-0.66%	–
VZ	Exit	Verizon	$0	–	-40,487	–	-0.67%	–
CSCO	Exit	Cisco Systems	$0	–	-71,170	–	-0.72%	–
DIS	Exit	Walt Disney	$0	–	-21,450	–	-0.84%	–
COP	Exit	ConocoPhillips	$0	–	-46,863	–	-0.86%	–
TRMB	Exit	Trimble Navigation	$0	–	-148,350	–	-0.93%	–
STT	Exit	State Street	$0	–	-39,180	–	-1.01%	–
IBM	Exit	International Business Machine	$0	–	-18,173	–	-1.01%	–
AMT	Exit	American Tower	$0	–	-35,900	–	-1.21%	–
GE	Exit	General Electric	$0	–	-129,488	–	-1.25%	–
SWI	Exit	SolarWinds, Inc	$0	–	-86,800	–	-1.30%	–
FFIV	Exit	F5 Networks	$0	–	-30,840	–	-1.37%	–
XOM	Exit	Exxon Mobil	$0	–	-51,797	–	-1.47%	–
EMR	Exit	Emerson Electric	$0	–	-90,840	–	-1.54%	–
MDT	Exit	Medtronic PLC	$0	–	-63,350	–	-1.62%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-56,445	–	-1.80%	–
T	Exit	AT&T	$0	–	-144,987	–	-1.81%	–
CL	Exit	Colgate Palmolive	$0	–	-78,000	–	-1.89%	–
ACN	Exit	Accenture	$0	–	-57,900	–	-2.18%	–
BP	Exit	BP P.L.C.	$0	–	-186,922	–	-2.18%	–
LLTC	Exit	Linear Technology	$0	–	-141,625	–	-2.19%	–
SLB	Exit	Schlumberger Ltd	$0	–	-83,285	–	-2.20%	–
NEM	Exit	Newmont Mining	$0	–	-364,200	–	-2.24%	–
HSY	Exit	Hershey Foods	$0	–	-64,245	–	-2.26%	–
PEP	Exit	PepsiCo	$0	–	-62,747	–	-2.26%	–
SIAL	Exit	Sigma Aldrich	$0	–	-43,649	–	-2.32%	–
CLX	Exit	Clorox	$0	–	-56,690	–	-2.51%	–
GIS	Exit	General Mills	$0	–	-123,300	–	-2.65%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-75,809	–	-2.67%	–
UPS	Exit	United Parcel Service	$0	–	-71,400	–	-2.70%	–
ESRX	Exit	Express Scripts	$0	–	-88,187	–	-2.73%	–
DOW	Exit	Dow Chemical	$0	–	-170,025	–	-2.76%	–
ADP	Exit	Automatic Data Processing	$0	–	-90,083	–	-2.77%	–
JNJ	Exit	Johnson & Johnson	$0	–	-82,102	–	-2.93%	–
PFE	Exit	Pfizer	$0	–	-245,850	–	-2.95%	–
NTRS	Exit	Northern Trust	$0	–	-116,835	–	-3.05%	–
MMM	Exit	3M	$0	–	-56,985	–	-3.09%	–
SYY	Exit	Sysco	$0	–	-211,025	–	-3.15%	–
PG	Exit	Procter & Gamble	$0	–	-121,163	–	-3.34%	–
INTC	Exit	Intel	$0	–	-290,927	–	-3.36%	–
IFF	Exit	International Flavors & Fragra	$0	–	-88,358	–	-3.49%	–
MRK	Exit	Merck	$0	–	-200,459	–	-3.79%	–
CB	Exit	Chubb	$0	–	-86,531	–	-4.06%	–

Q3 2015

			Value		Shares		↓ Weighting
CB	Sell	Chubb	$10,613,000	+24.9%	86,531	-3.1%	4.06%	+31.2%
MRK	Buy	Merck	$9,901,000	-12.5%	200,459	+0.9%	3.79%	-8.1%
IFF	Sell	International Flavors & Fragra	$9,124,000	-6.2%	88,358	-0.7%	3.49%	-1.5%
INTC	Buy	Intel	$8,769,000	-0.8%	290,927	+0.1%	3.36%	+4.1%
PG	Buy	Procter & Gamble	$8,716,000	-5.1%	121,163	+3.2%	3.34%	-0.4%
SYY	Buy	Sysco	$8,224,000	+9.5%	211,025	+1.4%	3.15%	+14.9%
MMM	Sell	3M	$8,079,000	-8.3%	56,985	-0.2%	3.09%	-3.7%
NTRS	Sell	Northern Trust	$7,963,000	-11.0%	116,835	-0.2%	3.05%	-6.6%
PFE	Sell	Pfizer	$7,722,000	-6.4%	245,850	-0.1%	2.95%	-1.7%
JNJ	Buy	Johnson & Johnson	$7,664,000	-4.2%	82,102	+0.0%	2.93%	+0.6%
DOW	Buy	Dow Chemical	$7,209,000	-14.0%	170,025	+3.8%	2.76%	-9.7%
ESRX	Buy	Express Scripts	$7,140,000	-8.2%	88,187	+0.9%	2.73%	-3.6%
NVS	Sell	Novartis AG (ADR)	$6,968,000	-6.7%	75,809	-0.2%	2.67%	-2.0%
GIS	Sell	General Mills	$6,921,000	+0.6%	123,300	-0.2%	2.65%	+5.6%
CLX	Sell	Clorox	$6,549,000	+10.0%	56,690	-1.0%	2.51%	+15.5%
SIAL	Sell	Sigma Aldrich	$6,064,000	-1.9%	43,649	-1.6%	2.32%	+3.0%
NEM	Buy	Newmont Mining	$5,853,000	-17.0%	364,200	+20.7%	2.24%	-12.8%
SLB	Buy	Schlumberger Ltd	$5,744,000	-11.0%	83,285	+11.3%	2.20%	-6.5%
LLTC	Buy	Linear Technology	$5,715,000	-6.6%	141,625	+2.3%	2.19%	-1.9%
BP	Buy	BP P.L.C.	$5,712,000	-17.8%	186,922	+7.5%	2.18%	-13.7%
ACN	Sell	Accenture	$5,689,000	+1.2%	57,900	-0.3%	2.18%	+6.2%
CL	Sell	Colgate Palmolive	$4,950,000	-3.7%	78,000	-0.8%	1.89%	+1.1%
T	Buy	AT&T	$4,724,000	-7.9%	144,987	+0.4%	1.81%	-3.3%
WBA	Sell	Walgreens Boots Alliance	$4,691,000	-7.5%	56,445	-6.0%	1.80%	-2.9%
MDT	Sell	Medtronic PLC	$4,241,000	-12.5%	63,350	-3.1%	1.62%	-8.1%
EMR	Buy	Emerson Electric	$4,012,000	-10.5%	90,840	+12.4%	1.54%	-6.0%
SWI	Buy	SolarWinds, Inc	$3,406,000	+38.7%	86,800	+63.1%	1.30%	+45.6%
GE	Sell	General Electric	$3,266,000	-5.4%	129,488	-0.3%	1.25%	-0.6%
IBM	Buy	International Business Machine	$2,635,000	-10.7%	18,173	+0.2%	1.01%	-6.2%
STT	Buy	State Street	$2,633,000	-12.3%	39,180	+0.5%	1.01%	-8.0%
TRMB	Buy	Trimble Navigation	$2,436,000	-17.8%	148,350	+17.5%	0.93%	-13.6%
COP	Buy	ConocoPhillips	$2,248,000	-21.8%	46,863	+0.1%	0.86%	-17.9%
DIS	Sell	Walt Disney	$2,192,000	-18.5%	21,450	-8.9%	0.84%	-14.3%
CSCO	Buy	Cisco Systems	$1,868,000	-4.0%	71,170	+0.4%	0.72%	+0.8%
JPM	Buy	J.P. Morgan Chase	$1,418,000	-9.8%	23,250	+0.2%	0.54%	-5.2%
FAST	New	Fastenal	$583,000	–	15,935	–	0.22%	–
SPLS	Sell	Staples	$557,000	-24.2%	47,500	-1.0%	0.21%	-20.5%
BMY	Buy	Bristol Myers Squibb	$335,000	-6.4%	5,652	+5.1%	0.13%	-1.5%
ORCL	New	Oracle	$332,000	–	9,205	–	0.13%	–
AGN	Sell	Allergan	$303,000	-14.4%	1,115	-4.3%	0.12%	-10.1%
CSX	Sell	CSX	$246,000	-25.0%	9,150	-9.0%	0.09%	-21.7%
WMB	Exit	Williams Cos	$0	–	-3,600	–	-0.08%	–
WMT	Exit	Wal-Mart Stores	$0	–	-3,195	–	-0.08%	–

Q2 2015

			Value		Shares		↓ Weighting
MRK	New	Merck	$11,315,000	–	198,759	–	4.12%	–
IFF	New	International Flavors & Fragra	$9,730,000	–	89,025	–	3.54%	–
PG	New	Procter & Gamble	$9,186,000	–	117,403	–	3.35%	–
NTRS	New	Northern Trust	$8,948,000	–	117,035	–	3.26%	–
INTC	New	Intel	$8,842,000	–	290,702	–	3.22%	–
MMM	New	3M	$8,808,000	–	57,085	–	3.21%	–
CB	New	Chubb	$8,494,000	–	89,281	–	3.10%	–
DOW	New	Dow Chemical	$8,384,000	–	163,850	–	3.06%	–
PFE	New	Pfizer	$8,250,000	–	246,050	–	3.01%	–
JNJ	New	Johnson & Johnson	$8,001,000	–	82,099	–	2.92%	–
ESRX	New	Express Scripts	$7,774,000	–	87,412	–	2.83%	–
SYY	New	Sysco	$7,510,000	–	208,025	–	2.74%	–
NVS	New	Novartis AG (ADR)	$7,466,000	–	75,925	–	2.72%	–
ADP	New	Automatic Data Processing	$7,227,000	–	90,083	–	2.63%	–
NEM	New	Newmont Mining	$7,050,000	–	301,800	–	2.57%	–
BP	New	BP P.L.C.	$6,948,000	–	173,867	–	2.53%	–
UPS	New	United Parcel Service	$6,919,000	–	71,400	–	2.52%	–
GIS	New	General Mills	$6,881,000	–	123,500	–	2.51%	–
SLB	New	Schlumberger Ltd	$6,452,000	–	74,860	–	2.35%	–
SIAL	New	Sigma Aldrich	$6,180,000	–	44,349	–	2.25%	–
LLTC	New	Linear Technology	$6,121,000	–	138,400	–	2.23%	–
CLX	New	Clorox	$5,954,000	–	57,240	–	2.17%	–
PEP	New	PepsiCo	$5,857,000	–	62,747	–	2.13%	–
HSY	New	Hershey Foods	$5,707,000	–	64,245	–	2.08%	–
ACN	New	Accenture	$5,623,000	–	58,100	–	2.05%	–
CL	New	Colgate Palmolive	$5,142,000	–	78,610	–	1.87%	–
T	New	AT&T	$5,130,000	–	144,412	–	1.87%	–
WBA	New	Walgreens Boots Alliance	$5,072,000	–	60,070	–	1.85%	–
MDT	New	Medtronic PLC	$4,846,000	–	65,400	–	1.77%	–
EMR	New	Emerson Electric	$4,482,000	–	80,850	–	1.63%	–
XOM	New	Exxon Mobil	$4,310,000	–	51,797	–	1.57%	–
FFIV	New	F5 Networks	$3,712,000	–	30,840	–	1.35%	–
GE	New	General Electric	$3,451,000	–	129,888	–	1.26%	–
AMT	New	American Tower	$3,349,000	–	35,900	–	1.22%	–
STT	New	State Street	$3,003,000	–	39,000	–	1.09%	–
TRMB	New	Trimble Navigation	$2,962,000	–	126,250	–	1.08%	–
IBM	New	International Business Machine	$2,951,000	–	18,143	–	1.08%	–
COP	New	ConocoPhillips	$2,875,000	–	46,813	–	1.05%	–
DIS	New	Walt Disney	$2,688,000	–	23,550	–	0.98%	–
SWI	New	SolarWinds, Inc	$2,455,000	–	53,225	–	0.90%	–
CSCO	New	Cisco Systems	$1,946,000	–	70,870	–	0.71%	–
VZ	New	Verizon	$1,887,000	–	40,487	–	0.69%	–
KO	New	Coca Cola	$1,697,000	–	43,250	–	0.62%	–
CMCSK	New	Comcast Corp Cl A Spl	$1,678,000	–	28,000	–	0.61%	–
UTX	New	United Technologies	$1,667,000	–	15,025	–	0.61%	–
JPM	New	J.P. Morgan Chase	$1,572,000	–	23,200	–	0.57%	–
DD	New	DuPont	$1,513,000	–	23,661	–	0.55%	–
TWX	New	Time Warner Inc.	$1,049,000	–	11,999	–	0.38%	–
NGG	New	National Grid	$969,000	–	15,000	–	0.35%	–
NEE	New	NextEra Energy, Inc.	$955,000	–	9,745	–	0.35%	–
HIG	New	Hartford Financial	$858,000	–	20,650	–	0.31%	–
PSX	New	Phillips 66	$849,000	–	10,544	–	0.31%	–
STR	New	Questar	$756,000	–	36,150	–	0.28%	–
SPLS	New	Staples	$735,000	–	48,000	–	0.27%	–
UNP	New	Union Pacific	$687,000	–	7,200	–	0.25%	–
HD	New	Home Depot	$667,000	–	6,003	–	0.24%	–
BRKA	New	Berkshire Hathaway Class A (3	$615,000	–	300	–	0.22%	–
AMGN	New	Amgen	$614,000	–	4,000	–	0.22%	–
BXP	New	Boston Properties	$605,000	–	5,000	–	0.22%	–
UBA	New	Urstadt Biddle Properties Inc	$597,000	–	31,950	–	0.22%	–
DUK	New	Duke Energy	$572,000	–	8,096	–	0.21%	–
MMC	New	Marsh & McLennan	$567,000	–	10,000	–	0.21%	–
CVX	New	Chevron	$554,000	–	5,740	–	0.20%	–
TWC	New	Time Warner Cable	$537,000	–	3,012	–	0.20%	–
MSFT	New	Microsoft	$521,000	–	11,800	–	0.19%	–
RDSA	New	Royal DutchShell Class A ADR	$433,000	–	7,589	–	0.16%	–
K	New	Kellogg Company	$412,000	–	6,567	–	0.15%	–
LLY	New	Eli Lilly	$400,000	–	4,790	–	0.15%	–
BWFG	New	Bankwell Financial	$395,000	–	22,165	–	0.14%	–
BMY	New	Bristol Myers Squibb	$358,000	–	5,377	–	0.13%	–
AGN	New	Allergan	$354,000	–	1,165	–	0.13%	–
CSX	New	CSX	$328,000	–	10,050	–	0.12%	–
PCL	New	Plum Creek Timber	$325,000	–	8,000	–	0.12%	–
SHW	New	Sherwin Williams	$275,000	–	1,000	–	0.10%	–
WMT	New	Wal-Mart Stores	$227,000	–	3,195	–	0.08%	–
WMB	New	Williams Cos	$207,000	–	3,600	–	0.08%	–

Q4 2014

			Value		Shares		↓ Weighting
WMB	Exit	Williams Cos	$0	–	-3,900	–	-0.08%	–
WMT	Exit	Wal-Mart Stores	$0	–	-3,270	–	-0.09%	–
PM	Exit	Phillip Morris Intl Inc. Com	$0	–	-3,000	–	-0.09%	–
POT	Exit	Potash Corp	$0	–	-7,500	–	-0.09%	–
NSC	Exit	Norfolk Southern	$0	–	-2,300	–	-0.09%	–
CAG	Exit	Conagra Foods	$0	–	-8,000	–	-0.09%	–
SHW	Exit	Sherwin Williams	$0	–	-1,200	–	-0.09%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-5,377	–	-0.10%	–
B108PS	Exit	Actavis	$0	–	-1,222	–	-0.10%	–
PCL	Exit	Plum Creek Timber	$0	–	-8,000	–	-0.11%	–
CSX	Exit	CSX	$0	–	-10,050	–	-0.12%	–
SM	Exit	SM Energy Company	$0	–	-5,000	–	-0.14%	–
K	Exit	Kellogg Company	$0	–	-6,567	–	-0.14%	–
DE	Exit	Deere	$0	–	-5,000	–	-0.15%	–
BWFG	Exit	Bankwell Financial	$0	–	-22,165	–	-0.15%	–
TWC	Exit	Time Warner Cable	$0	–	-3,012	–	-0.15%	–
LLY	Exit	Eli Lilly	$0	–	-7,140	–	-0.16%	–
MMC	Exit	Marsh & McLennan	$0	–	-10,000	–	-0.19%	–
HD	Exit	Home Depot	$0	–	-6,003	–	-0.20%	–
MSFT	Exit	Microsoft	$0	–	-12,000	–	-0.20%	–
AMGN	Exit	Amgen	$0	–	-4,000	–	-0.20%	–
BXP	Exit	Boston Properties	$0	–	-5,000	–	-0.21%	–
SPLS	Exit	Staples	$0	–	-49,500	–	-0.21%	–
BRKA	Exit	Berkshire Hathaway Class A (3	$0	–	-300	–	-0.22%	–
RDSA	Exit	Royal DutchShell Class A ADR	$0	–	-8,189	–	-0.22%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.23%	–
DUK	Exit	Duke Energy	$0	–	-9,196	–	-0.25%	–
CVX	Exit	Chevron	$0	–	-6,540	–	-0.28%	–
HIG	Exit	Hartford Financial	$0	–	-21,150	–	-0.28%	–
UNP	Exit	Union Pacific	$0	–	-7,600	–	-0.29%	–
STR	Exit	Questar	$0	–	-37,350	–	-0.30%	–
TWX	Exit	Time Warner Inc.	$0	–	-11,999	–	-0.32%	–
NEE	Exit	NextEra Energy, Inc.	$0	–	-9,745	–	-0.33%	–
TRMB	Exit	Trimble Navigation	$0	–	-32,325	–	-0.35%	–
NGG	Exit	National Grid	$0	–	-15,000	–	-0.38%	–
PSX	Exit	Phillips 66	$0	–	-13,840	–	-0.40%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-25,389	–	-0.55%	–
UTX	Exit	United Technologies	$0	–	-15,225	–	-0.57%	–
CMCSK	Exit	Comcast Corp Cl A Spl	$0	–	-30,792	–	-0.59%	–
DD	Exit	DuPont	$0	–	-24,011	–	-0.62%	–
CSCO	Exit	Cisco Systems	$0	–	-73,570	–	-0.66%	–
KO	Exit	Coca Cola	$0	–	-43,850	–	-0.67%	–
VZ	Exit	Verizon	$0	–	-40,987	–	-0.73%	–
SWI	Exit	SolarWinds, Inc	$0	–	-52,475	–	-0.79%	–
DIS	Exit	Walt Disney	$0	–	-28,650	–	-0.91%	–
AMT	Exit	American Tower	$0	–	-35,700	–	-1.19%	–
STT	Exit	State Street	$0	–	-46,000	–	-1.21%	–
GE	Exit	General Electric	$0	–	-138,088	–	-1.26%	–
IBM	Exit	International Business Machine	$0	–	-18,843	–	-1.28%	–
EMR	Exit	Emerson Electric	$0	–	-58,335	–	-1.30%	–
COP	Exit	ConocoPhillips	$0	–	-48,013	–	-1.31%	–
FFIV	Exit	F5 Networks	$0	–	-30,940	–	-1.31%	–
WAG	Exit	Walgreen	$0	–	-68,170	–	-1.44%	–
ACN	Exit	Accenture	$0	–	-58,000	–	-1.68%	–
T	Exit	AT&T	$0	–	-145,812	–	-1.83%	–
CL	Exit	Colgate Palmolive	$0	–	-79,960	–	-1.86%	–
CLX	Exit	Clorox	$0	–	-60,428	–	-2.07%	–
PEP	Exit	PepsiCo	$0	–	-63,722	–	-2.12%	–
LLTC	Exit	Linear Technology	$0	–	-137,950	–	-2.19%	–
ESRX	Exit	Express Scripts	$0	–	-87,612	–	-2.21%	–
XOM	Exit	Exxon Mobil	$0	–	-66,032	–	-2.22%	–
GIS	Exit	General Mills	$0	–	-123,500	–	-2.22%	–
HSY	Exit	Hershey Foods	$0	–	-66,405	–	-2.26%	–
NEM	Exit	Newmont Mining	$0	–	-279,650	–	-2.30%	–
SLB	Exit	Schlumberger Ltd	$0	–	-68,495	–	-2.49%	–
UPS	Exit	United Parcel Service	$0	–	-73,000	–	-2.56%	–
SIAL	Exit	Sigma Aldrich	$0	–	-52,800	–	-2.56%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-78,000	–	-2.62%	–
PFE	Exit	Pfizer	$0	–	-250,304	–	-2.64%	–
BP	Exit	BP P.L.C.	$0	–	-169,794	–	-2.66%	–
ADP	Exit	Automatic Data Processing	$0	–	-92,783	–	-2.75%	–
SYY	Exit	Sysco	$0	–	-207,675	–	-2.81%	–
NTRS	Exit	Northern Trust	$0	–	-117,785	–	-2.86%	–
DOW	Exit	Dow Chemical	$0	–	-156,450	–	-2.93%	–
CB	Exit	Chubb	$0	–	-91,169	–	-2.96%	–
MDT	Exit	Medtronic	$0	–	-136,967	–	-3.03%	–
MMM	Exit	3M	$0	–	-60,210	–	-3.04%	–
JNJ	Exit	Johnson & Johnson	$0	–	-82,999	–	-3.16%	–
IFF	Exit	International Flavors & Fragra	$0	–	-94,000	–	-3.22%	–
PG	Exit	Procter & Gamble	$0	–	-118,483	–	-3.54%	–
INTC	Exit	Intel	$0	–	-291,242	–	-3.62%	–
MRK	Exit	Merck	$0	–	-196,659	–	-4.16%	–

Q3 2014

			Value		Shares		↓ Weighting
MRK	Sell	Merck	$11,658,000	+2.1%	196,659	-0.4%	4.16%	+3.3%
INTC	Sell	Intel	$10,141,000	+11.3%	291,242	-1.2%	3.62%	+12.7%
PG	Buy	Procter & Gamble	$9,922,000	+7.3%	118,483	+0.7%	3.54%	+8.7%
IFF	Sell	International Flavors & Fragra	$9,013,000	-11.1%	94,000	-3.3%	3.22%	-10.0%
JNJ	Sell	Johnson & Johnson	$8,847,000	+1.5%	82,999	-0.4%	3.16%	+2.8%
MMM	Sell	3M	$8,531,000	-2.9%	60,210	-1.8%	3.04%	-1.6%
MDT	Sell	Medtronic	$8,485,000	-2.9%	136,967	-0.1%	3.03%	-1.7%
CB	Sell	Chubb	$8,304,000	-1.6%	91,169	-0.4%	2.96%	-0.4%
DOW	Sell	Dow Chemical	$8,204,000	-1.3%	156,450	-3.1%	2.93%	-0.0%
NTRS	Sell	Northern Trust	$8,013,000	+5.4%	117,785	-0.5%	2.86%	+6.7%
SYY	Buy	Sysco	$7,881,000	+3.5%	207,675	+2.1%	2.81%	+4.8%
ADP	Sell	Automatic Data Processing	$7,708,000	+4.1%	92,783	-0.6%	2.75%	+5.4%
BP	Sell	BP P.L.C.	$7,462,000	-16.8%	169,794	-0.1%	2.66%	-15.8%
PFE	Sell	Pfizer	$7,401,000	-0.6%	250,304	-0.2%	2.64%	+0.6%
NVS	Sell	Novartis AG (ADR)	$7,342,000	+3.2%	78,000	-0.7%	2.62%	+4.5%
SIAL	Sell	Sigma Aldrich	$7,181,000	+32.9%	52,800	-0.8%	2.56%	+34.5%
UPS	Sell	United Parcel Service	$7,175,000	-5.2%	73,000	-0.9%	2.56%	-4.0%
SLB	Buy	Schlumberger Ltd	$6,965,000	-12.4%	68,495	+1.6%	2.49%	-11.3%
NEM	Buy	Newmont Mining	$6,446,000	-7.1%	279,650	+2.5%	2.30%	-6.0%
HSY	Sell	Hershey Foods	$6,337,000	-4.7%	66,405	-2.8%	2.26%	-3.5%
GIS	Buy	General Mills	$6,231,000	-3.0%	123,500	+1.0%	2.22%	-1.8%
XOM	Sell	Exxon Mobil	$6,210,000	-9.1%	66,032	-2.7%	2.22%	-8.0%
ESRX	Buy	Express Scripts	$6,188,000	+4.9%	87,612	+3.0%	2.21%	+6.3%
LLTC	Buy	Linear Technology	$6,124,000	-5.0%	137,950	+0.7%	2.19%	-3.8%
CLX	Sell	Clorox	$5,804,000	+4.7%	60,428	-0.3%	2.07%	+6.1%
CL	Sell	Colgate Palmolive	$5,215,000	-5.2%	79,960	-0.9%	1.86%	-4.1%
T	Sell	AT&T	$5,138,000	-1.6%	145,812	-1.2%	1.83%	-0.3%
WAG	Sell	Walgreen	$4,040,000	-42.5%	68,170	-28.1%	1.44%	-41.8%
COP	Sell	ConocoPhillips	$3,674,000	-11.7%	48,013	-1.0%	1.31%	-10.6%
EMR	Buy	Emerson Electric	$3,651,000	+3.5%	58,335	+9.8%	1.30%	+4.8%
IBM	Sell	International Business Machine	$3,577,000	+3.6%	18,843	-1.1%	1.28%	+4.9%
GE	Sell	General Electric	$3,538,000	-2.7%	138,088	-0.3%	1.26%	-1.5%
SWI	Buy	SolarWinds, Inc	$2,207,000	+42.9%	52,475	+31.4%	0.79%	+44.9%
VZ	Buy	Verizon	$2,049,000	+2.9%	40,987	+0.7%	0.73%	+4.1%
KO	Sell	Coca Cola	$1,871,000	-1.1%	43,850	-1.8%	0.67%	+0.1%
CSCO	Sell	Cisco Systems	$1,852,000	-31.1%	73,570	-32.0%	0.66%	-30.3%
DD	Sell	DuPont	$1,723,000	+8.8%	24,011	-0.8%	0.62%	+10.2%
JPM	Sell	J.P. Morgan Chase	$1,529,000	+0.4%	25,389	-3.9%	0.55%	+1.7%
PSX	Sell	Phillips 66	$1,125,000	-13.7%	13,840	-14.6%	0.40%	-12.4%
TRMB	New	Trimble Navigation	$986,000	–	32,325	–	0.35%	–
NEE	Sell	NextEra Energy, Inc.	$915,000	-11.3%	9,745	-3.2%	0.33%	-10.2%
STR	Sell	Questar	$833,000	-12.3%	37,350	-2.5%	0.30%	-11.3%
HIG	Sell	Hartford Financial	$788,000	+1.2%	21,150	-2.8%	0.28%	+2.2%
CVX	Sell	Chevron	$780,000	-10.0%	6,540	-1.5%	0.28%	-9.2%
SPLS	Sell	Staples	$599,000	+9.5%	49,500	-2.0%	0.21%	+10.9%
MSFT	Sell	Microsoft	$556,000	+8.8%	12,000	-2.0%	0.20%	+10.0%
BWFG	New	Bankwell Financial	$420,000	–	22,165	–	0.15%	–
B108PS	New	Actavis	$295,000	–	1,222	–	0.10%	–
SHW	Sell	Sherwin Williams	$263,000	-2.2%	1,200	-7.7%	0.09%	-1.1%
NSC	Sell	Norfolk Southern	$257,000	-0.4%	2,300	-8.0%	0.09%	+1.1%
WMT	Sell	Wal-Mart Stores	$250,000	-3.8%	3,270	-5.8%	0.09%	-3.3%
CMCSA	Exit	Comcast Corp	$0	–	-5,340	–	-0.10%	–
MCD	Exit	McDonald's	$0	–	-2,948	–	-0.10%	–
FRX	Exit	Forest Labs	$0	–	-3,700	–	-0.13%	–

Q2 2014

			Value		Shares		↓ Weighting
MRK	New	Merck	$11,423,000	–	197,459	–	4.03%	–
IFF	New	International Flavors & Fragra	$10,136,000	–	97,200	–	3.57%	–
PG	New	Procter & Gamble	$9,249,000	–	117,683	–	3.26%	–
INTC	New	Intel	$9,112,000	–	294,892	–	3.21%	–
BP	New	BP P.L.C.	$8,970,000	–	170,044	–	3.16%	–
MMM	New	3M	$8,782,000	–	61,310	–	3.10%	–
MDT	New	Medtronic	$8,741,000	–	137,100	–	3.08%	–
JNJ	New	Johnson & Johnson	$8,715,000	–	83,299	–	3.07%	–
CB	New	Chubb	$8,440,000	–	91,569	–	2.98%	–
DOW	New	Dow Chemical	$8,308,000	–	161,450	–	2.93%	–
SLB	New	Schlumberger Ltd	$7,954,000	–	67,435	–	2.80%	–
SYY	New	Sysco	$7,617,000	–	203,400	–	2.68%	–
NTRS	New	Northern Trust	$7,602,000	–	118,385	–	2.68%	–
UPS	New	United Parcel Service	$7,566,000	–	73,700	–	2.67%	–
PFE	New	Pfizer	$7,447,000	–	250,904	–	2.62%	–
ADP	New	Automatic Data Processing	$7,403,000	–	93,383	–	2.61%	–
NVS	New	Novartis AG (ADR)	$7,111,000	–	78,550	–	2.51%	–
WAG	New	Walgreen	$7,026,000	–	94,780	–	2.48%	–
NEM	New	Newmont Mining	$6,941,000	–	272,850	–	2.45%	–
XOM	New	Exxon Mobil	$6,835,000	–	67,884	–	2.41%	–
HSY	New	Hershey Foods	$6,651,000	–	68,305	–	2.34%	–
LLTC	New	Linear Technology	$6,447,000	–	136,975	–	2.27%	–
GIS	New	General Mills	$6,426,000	–	122,300	–	2.26%	–
ESRX	New	Express Scripts	$5,899,000	–	85,087	–	2.08%	–
PEP	New	PepsiCo	$5,693,000	–	63,722	–	2.01%	–
CLX	New	Clorox	$5,541,000	–	60,628	–	1.95%	–
CL	New	Colgate Palmolive	$5,503,000	–	80,710	–	1.94%	–
SIAL	New	Sigma Aldrich	$5,404,000	–	53,250	–	1.90%	–
T	New	AT&T	$5,220,000	–	147,612	–	1.84%	–
ACN	New	Accenture	$4,689,000	–	58,000	–	1.65%	–
COP	New	ConocoPhillips	$4,159,000	–	48,512	–	1.47%	–
GE	New	General Electric	$3,638,000	–	138,438	–	1.28%	–
EMR	New	Emerson Electric	$3,526,000	–	53,135	–	1.24%	–
IBM	New	International Business Machine	$3,452,000	–	19,043	–	1.22%	–
FFIV	New	F5 Networks	$3,448,000	–	30,940	–	1.22%	–
AMT	New	American Tower	$3,212,000	–	35,700	–	1.13%	–
STT	New	State Street	$3,094,000	–	46,000	–	1.09%	–
CSCO	New	Cisco Systems	$2,688,000	–	108,170	–	0.95%	–
DIS	New	Walt Disney	$2,456,000	–	28,650	–	0.87%	–
VZ	New	Verizon	$1,991,000	–	40,687	–	0.70%	–
KO	New	Coca Cola	$1,891,000	–	44,650	–	0.67%	–
UTX	New	United Technologies	$1,758,000	–	15,225	–	0.62%	–
CMCSK	New	Comcast Corp Cl A Spl	$1,642,000	–	30,792	–	0.58%	–
DD	New	DuPont	$1,584,000	–	24,211	–	0.56%	–
SWI	New	SolarWinds, Inc	$1,544,000	–	39,950	–	0.54%	–
JPM	New	J.P. Morgan Chase	$1,523,000	–	26,424	–	0.54%	–
PSX	New	Phillips 66	$1,303,000	–	16,199	–	0.46%	–
NGG	New	National Grid	$1,116,000	–	15,000	–	0.39%	–
NEE	New	NextEra Energy, Inc.	$1,032,000	–	10,070	–	0.36%	–
STR	New	Questar	$950,000	–	38,300	–	0.34%	–
CVX	New	Chevron	$867,000	–	6,640	–	0.31%	–
TWX	New	Time Warner Inc.	$843,000	–	11,999	–	0.30%	–
HIG	New	Hartford Financial	$779,000	–	21,750	–	0.28%	–
UNP	New	Union Pacific	$758,000	–	7,600	–	0.27%	–
DUK	New	Duke Energy	$682,000	–	9,196	–	0.24%	–
RDSA	New	Royal DutchShell Class A ADR	$675,000	–	8,189	–	0.24%	–
UBA	New	Urstadt Biddle Properties Inc	$667,000	–	31,950	–	0.24%	–
BXP	New	Boston Properties	$591,000	–	5,000	–	0.21%	–
BRKA	New	Berkshire Hathaway Class A (3	$570,000	–	300	–	0.20%	–
SPLS	New	Staples	$547,000	–	50,500	–	0.19%	–
MMC	New	Marsh & McLennan	$518,000	–	10,000	–	0.18%	–
MSFT	New	Microsoft	$511,000	–	12,250	–	0.18%	–
HD	New	Home Depot	$486,000	–	6,003	–	0.17%	–
AMGN	New	Amgen	$473,000	–	4,000	–	0.17%	–
DE	New	Deere	$453,000	–	5,000	–	0.16%	–
LLY	New	Eli Lilly	$444,000	–	7,140	–	0.16%	–
TWC	New	Time Warner Cable	$444,000	–	3,012	–	0.16%	–
K	New	Kellogg Company	$431,000	–	6,567	–	0.15%	–
SM	New	SM Energy Company	$420,000	–	5,000	–	0.15%	–
FRX	New	Forest Labs	$366,000	–	3,700	–	0.13%	–
PCL	New	Plum Creek Timber	$361,000	–	8,000	–	0.13%	–
CSX	New	CSX	$310,000	–	10,050	–	0.11%	–
MCD	New	McDonald's	$297,000	–	2,948	–	0.10%	–
CMCSA	New	Comcast Corp	$287,000	–	5,340	–	0.10%	–
POT	New	Potash Corp	$285,000	–	7,500	–	0.10%	–
SHW	New	Sherwin Williams	$269,000	–	1,300	–	0.10%	–
WMT	New	Wal-Mart Stores	$260,000	–	3,470	–	0.09%	–
BMY	New	Bristol Myers Squibb	$261,000	–	5,377	–	0.09%	–
NSC	New	Norfolk Southern	$258,000	–	2,500	–	0.09%	–
PM	New	Phillip Morris Intl Inc. Com	$253,000	–	3,000	–	0.09%	–
CAG	New	Conagra Foods	$237,000	–	8,000	–	0.08%	–
WMB	New	Williams Cos	$227,000	–	3,900	–	0.08%	–

Q4 2013

			Value		Shares		↓ Weighting
DE	Exit	Deere	$0	–	-2,600	–	-0.10%	–
SHW	Exit	Sherwin Williams	$0	–	-1,400	–	-0.12%	–
WMT	Exit	Wal-Mart Stores	$0	–	-3,595	–	-0.12%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-5,777	–	-0.12%	–
MCD	Exit	McDonald's	$0	–	-2,898	–	-0.13%	–
LLY	Exit	Eli Lilly	$0	–	-7,240	–	-0.17%	–
UTX	Exit	United Technologies	$0	–	-3,475	–	-0.17%	–
QEP	Exit	QEP Resources	$0	–	-14,100	–	-0.18%	–
CTXS	Exit	Citrix Systems	$0	–	-5,650	–	-0.18%	–
MSFT	Exit	Microsoft	$0	–	-12,600	–	-0.19%	–
NEE	Exit	NextEra Energy, Inc.	$0	–	-5,395	–	-0.20%	–
RDSA	Exit	Royal DutchShell Class A ADR	$0	–	-8,289	–	-0.25%	–
UBA	Exit	Urstadt Biddle Properties Inc	$0	–	-31,950	–	-0.29%	–
UNP	Exit	Union Pacific	$0	–	-4,100	–	-0.29%	–
DUK	Exit	Duke Energy	$0	–	-10,293	–	-0.31%	–
HIG	Exit	Hartford Financial	$0	–	-22,930	–	-0.33%	–
VZ	Exit	Verizon	$0	–	-16,794	–	-0.36%	–
CVX	Exit	Chevron	$0	–	-7,040	–	-0.39%	–
DD	Exit	DuPont	$0	–	-14,703	–	-0.39%	–
STR	Exit	Questar	$0	–	-41,900	–	-0.43%	–
KO	Exit	Coca Cola	$0	–	-30,050	–	-0.52%	–
PSX	Exit	Phillips 66	$0	–	-19,948	–	-0.53%	–
JPM	Exit	J.P. Morgan Chase	$0	–	-22,390	–	-0.53%	–
IBM	Exit	International Business Machine	$0	–	-10,068	–	-0.85%	–
FFIV	Exit	F5 Networks	$0	–	-24,790	–	-0.97%	–
AMT	Exit	American Tower	$0	–	-36,600	–	-1.24%	–
GE	Exit	General Electric	$0	–	-118,788	–	-1.30%	–
ESRX	Exit	Express Scripts	$0	–	-49,802	–	-1.40%	–
COP	Exit	ConocoPhillips	$0	–	-49,970	–	-1.58%	–
EMR	Exit	Emerson Electric	$0	–	-55,535	–	-1.64%	–
T	Exit	AT&T	$0	–	-107,625	–	-1.66%	–
ACN	Exit	Accenture	$0	–	-60,900	–	-2.05%	–
NEM	Exit	Newmont Mining	$0	–	-169,375	–	-2.17%	–
CSCO	Exit	Cisco Systems	$0	–	-204,310	–	-2.18%	–
PEP	Exit	PepsiCo	$0	–	-60,472	–	-2.19%	–
SIAL	Exit	Sigma Aldrich	$0	–	-58,150	–	-2.26%	–
LLTC	Exit	Linear Technology	$0	–	-125,275	–	-2.27%	–
XOM	Exit	Exxon Mobil	$0	–	-58,869	–	-2.31%	–
CL	Exit	Colgate Palmolive	$0	–	-85,740	–	-2.32%	–
CLX	Exit	Clorox	$0	–	-62,278	–	-2.32%	–
SLB	Exit	Schlumberger Ltd	$0	–	-57,605	–	-2.32%	–
GIS	Exit	General Mills	$0	–	-106,950	–	-2.34%	–
SYY	Exit	Sysco	$0	–	-178,450	–	-2.59%	–
WAG	Exit	Walgreen	$0	–	-107,990	–	-2.65%	–
NVS	Exit	Novartis AG (ADR)	$0	–	-78,675	–	-2.75%	–
JNJ	Exit	Johnson & Johnson	$0	–	-71,064	–	-2.81%	–
NTRS	Exit	Northern Trust	$0	–	-113,960	–	-2.83%	–
BP	Exit	BP P.L.C.	$0	–	-148,136	–	-2.84%	–
INTC	Exit	Intel	$0	–	-283,057	–	-2.96%	–
UPS	Exit	United Parcel Service	$0	–	-76,225	–	-3.18%	–
HSY	Exit	Hershey Foods	$0	–	-76,210	–	-3.22%	–
DOW	Exit	Dow Chemical	$0	–	-184,800	–	-3.24%	–
ADP	Exit	Automatic Data Processing	$0	–	-98,683	–	-3.26%	–
PFE	Exit	Pfizer	$0	–	-254,881	–	-3.34%	–
MDT	Exit	Medtronic	$0	–	-138,450	–	-3.36%	–
CB	Exit	Chubb	$0	–	-87,119	–	-3.55%	–
MMM	Exit	3M	$0	–	-68,565	–	-3.73%	–
PG	Exit	Procter & Gamble	$0	–	-108,534	–	-3.74%	–
IFF	Exit	International Flavors & Fragra	$0	–	-110,575	–	-4.15%	–
MRK	Exit	Merck	$0	–	-191,404	–	-4.16%	–

Q3 2013

			Value		Shares		↓ Weighting
MRK	Sell	Merck	$9,113,000	+1.1%	191,404	-1.4%	4.16%	-0.6%
IFF	Sell	International Flavors & Fragra	$9,100,000	+5.9%	110,575	-3.3%	4.15%	+4.1%
PG	Sell	Procter & Gamble	$8,204,000	-4.4%	108,534	-2.6%	3.74%	-6.0%
MMM	Sell	3M	$8,187,000	+7.9%	68,565	-1.2%	3.73%	+6.1%
CB	Sell	Chubb	$7,776,000	+2.7%	87,119	-2.6%	3.55%	+1.0%
MDT	Sell	Medtronic	$7,372,000	+1.9%	138,450	-1.5%	3.36%	+0.2%
PFE	Sell	Pfizer	$7,321,000	+0.7%	254,881	-1.8%	3.34%	-1.0%
ADP	Sell	Automatic Data Processing	$7,143,000	+2.1%	98,683	-2.9%	3.26%	+0.4%
DOW	Sell	Dow Chemical	$7,096,000	+19.2%	184,800	-0.1%	3.24%	+17.2%
HSY	Sell	Hershey Foods	$7,049,000	-1.0%	76,210	-4.4%	3.22%	-2.6%
UPS	Sell	United Parcel Service	$6,965,000	+3.8%	76,225	-1.8%	3.18%	+2.0%
INTC	Buy	Intel	$6,488,000	-5.2%	283,057	+0.2%	2.96%	-6.8%
BP	Buy	BP P.L.C.	$6,226,000	+1.6%	148,136	+0.9%	2.84%	-0.1%
NTRS	Sell	Northern Trust	$6,197,000	-6.6%	113,960	-0.5%	2.83%	-8.1%
JNJ	Sell	Johnson & Johnson	$6,161,000	-3.8%	71,064	-4.7%	2.81%	-5.4%
NVS	Sell	Novartis AG (ADR)	$6,035,000	+6.5%	78,675	-1.9%	2.75%	+4.7%
WAG	Sell	Walgreen	$5,810,000	+18.4%	107,990	-2.7%	2.65%	+16.4%
SYY	Sell	Sysco	$5,680,000	-7.4%	178,450	-0.6%	2.59%	-8.9%
GIS	Buy	General Mills	$5,125,000	-1.2%	106,950	+0.0%	2.34%	-2.9%
SLB	Buy	Schlumberger Ltd	$5,090,000	+23.7%	57,605	+0.3%	2.32%	+21.6%
CLX	Sell	Clorox	$5,089,000	-4.3%	62,278	-2.7%	2.32%	-6.0%
CL	Sell	Colgate Palmolive	$5,084,000	+3.4%	85,740	-0.1%	2.32%	+1.6%
XOM	Sell	Exxon Mobil	$5,065,000	-7.6%	58,869	-3.0%	2.31%	-9.2%
LLTC	Sell	Linear Technology	$4,968,000	+5.8%	125,275	-1.7%	2.27%	+4.0%
SIAL	Sell	Sigma Aldrich	$4,960,000	+5.0%	58,150	-1.0%	2.26%	+3.2%
PEP	Sell	PepsiCo	$4,808,000	-4.8%	60,472	-2.0%	2.19%	-6.4%
CSCO	Sell	Cisco Systems	$4,787,000	-5.3%	204,310	-1.6%	2.18%	-6.9%
NEM	Buy	Newmont Mining	$4,759,000	+1.8%	169,375	+8.5%	2.17%	+0.0%
ACN	Sell	Accenture	$4,485,000	-0.4%	60,900	-2.6%	2.05%	-2.0%
T	Sell	AT&T	$3,640,000	-7.0%	107,625	-2.7%	1.66%	-8.6%
ESRX	Buy	Express Scripts	$3,078,000	+1.5%	49,802	+1.4%	1.40%	-0.2%
GE	Sell	General Electric	$2,838,000	+1.6%	118,788	-1.3%	1.30%	0.0%
FFIV	Buy	F5 Networks	$2,127,000	+28.8%	24,790	+3.3%	0.97%	+26.6%
IBM	Sell	International Business Machine	$1,864,000	-11.2%	10,068	-8.3%	0.85%	-12.7%
PSX	Sell	Phillips 66	$1,153,000	-4.6%	19,948	-2.7%	0.53%	-6.1%
KO	Sell	Coca Cola	$1,138,000	-5.9%	30,050	-0.3%	0.52%	-7.5%
VZ	Sell	Verizon	$784,000	-21.0%	16,794	-14.9%	0.36%	-22.3%
DUK	Sell	Duke Energy	$687,000	-2.7%	10,293	-1.6%	0.31%	-4.6%
UNP	Sell	Union Pacific	$637,000	-1.7%	4,100	-2.4%	0.29%	-3.3%
NEE	Sell	NextEra Energy, Inc.	$432,000	-3.6%	5,395	-1.9%	0.20%	-5.3%
SHW	Sell	Sherwin Williams	$255,000	-9.9%	1,400	-12.5%	0.12%	-11.5%
HCP	Exit	HCP	$0	–	-4,800	–	-0.10%	–

Q2 2013

			Value		Shares		↓ Weighting
MRK	New	Merck	$9,015,000	–	194,079	–	4.18%	–
IFF	New	International Flavors & Fragra	$8,596,000	–	114,375	–	3.99%	–
PG	New	Procter & Gamble	$8,583,000	–	111,486	–	3.98%	–
MMM	New	3M	$7,588,000	–	69,390	–	3.52%	–
CB	New	Chubb	$7,569,000	–	89,419	–	3.51%	–
PFE	New	Pfizer	$7,269,000	–	259,509	–	3.37%	–
MDT	New	Medtronic	$7,234,000	–	140,550	–	3.36%	–
HSY	New	Hershey Foods	$7,117,000	–	79,710	–	3.30%	–
ADP	New	Automatic Data Processing	$6,995,000	–	101,583	–	3.24%	–
INTC	New	Intel	$6,842,000	–	282,357	–	3.17%	–
UPS	New	United Parcel Service	$6,713,000	–	77,625	–	3.12%	–
NTRS	New	Northern Trust	$6,633,000	–	114,560	–	3.08%	–
JNJ	New	Johnson & Johnson	$6,404,000	–	74,589	–	2.97%	–
SYY	New	Sysco	$6,132,000	–	179,500	–	2.84%	–
BP	New	BP P.L.C.	$6,129,000	–	146,836	–	2.84%	–
DOW	New	Dow Chemical	$5,951,000	–	185,000	–	2.76%	–
NVS	New	Novartis AG (ADR)	$5,669,000	–	80,175	–	2.63%	–
XOM	New	Exxon Mobil	$5,482,000	–	60,679	–	2.54%	–
CLX	New	Clorox	$5,319,000	–	63,978	–	2.47%	–
GIS	New	General Mills	$5,188,000	–	106,900	–	2.41%	–
CSCO	New	Cisco Systems	$5,055,000	–	207,710	–	2.34%	–
PEP	New	PepsiCo	$5,048,000	–	61,722	–	2.34%	–
CL	New	Colgate Palmolive	$4,918,000	–	85,840	–	2.28%	–
WAG	New	Walgreen	$4,906,000	–	110,990	–	2.28%	–
SIAL	New	Sigma Aldrich	$4,725,000	–	58,750	–	2.19%	–
LLTC	New	Linear Technology	$4,696,000	–	127,475	–	2.18%	–
NEM	New	Newmont Mining	$4,677,000	–	156,175	–	2.17%	–
ACN	New	Accenture	$4,501,000	–	62,550	–	2.09%	–
SLB	New	Schlumberger Ltd	$4,114,000	–	57,405	–	1.91%	–
T	New	AT&T	$3,916,000	–	110,625	–	1.82%	–
ESRX	New	Express Scripts	$3,032,000	–	49,102	–	1.41%	–
EMR	New	Emerson Electric	$3,029,000	–	55,535	–	1.40%	–
COP	New	ConocoPhillips	$3,023,000	–	49,970	–	1.40%	–
GE	New	General Electric	$2,792,000	–	120,388	–	1.30%	–
AMT	New	American Tower	$2,678,000	–	36,600	–	1.24%	–
IBM	New	International Business Machine	$2,099,000	–	10,983	–	0.97%	–
FFIV	New	F5 Networks	$1,651,000	–	23,995	–	0.77%	–
KO	New	Coca Cola	$1,209,000	–	30,150	–	0.56%	–
PSX	New	Phillips 66	$1,208,000	–	20,498	–	0.56%	–
JPM	New	J.P. Morgan Chase	$1,182,000	–	22,390	–	0.55%	–
STR	New	Questar	$999,000	–	41,900	–	0.46%	–
VZ	New	Verizon	$993,000	–	19,732	–	0.46%	–
CVX	New	Chevron	$833,000	–	7,040	–	0.39%	–
DD	New	DuPont	$772,000	–	14,703	–	0.36%	–
HIG	New	Hartford Financial	$709,000	–	22,930	–	0.33%	–
DUK	New	Duke Energy	$706,000	–	10,463	–	0.33%	–
UNP	New	Union Pacific	$648,000	–	4,200	–	0.30%	–
UBA	New	Urstadt Biddle Properties Inc	$644,000	–	31,950	–	0.30%	–
RDSA	New	Royal DutchShell Class A ADR	$529,000	–	8,289	–	0.24%	–
NEE	New	NextEra Energy, Inc.	$448,000	–	5,500	–	0.21%	–
MSFT	New	Microsoft	$435,000	–	12,600	–	0.20%	–
QEP	New	QEP Resources	$392,000	–	14,100	–	0.18%	–
LLY	New	Eli Lilly	$356,000	–	7,240	–	0.16%	–
CTXS	New	Citrix Systems	$341,000	–	5,650	–	0.16%	–
UTX	New	United Technologies	$323,000	–	3,475	–	0.15%	–
MCD	New	McDonald's	$287,000	–	2,898	–	0.13%	–
SHW	New	Sherwin Williams	$283,000	–	1,600	–	0.13%	–
WMT	New	Wal-Mart Stores	$268,000	–	3,595	–	0.12%	–
BMY	New	Bristol Myers Squibb	$258,000	–	5,777	–	0.12%	–
HCP	New	HCP	$218,000	–	4,800	–	0.10%	–
DE	New	Deere	$211,000	–	2,600	–	0.10%	–

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