SUMMITRY LLC Activity Q4 2003-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$70,406,767	+2.7%	200,990	+0.0%	4.63%	+6.9%
GOOGL	Buy	ALPHABET INCcap stk cl a	$69,290,425	+10.1%	529,500	+0.7%	4.56%	+14.6%
V	Buy	VISA INC	$65,719,122	-2.5%	285,723	+0.6%	4.32%	+1.5%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$64,313,518	+2.1%	740,085	+18.6%	4.23%	+6.3%
ULTA	Buy	ULTA BEAUTY INC	$63,394,289	+11.6%	158,704	+31.5%	4.17%	+16.1%
AMZN	Sell	AMAZON COM INC	$62,341,301	-4.1%	490,413	-1.7%	4.10%	-0.2%
FISV	Buy	FISERV INC	$60,660,785	-9.2%	537,011	+1.4%	3.99%	-5.5%
MA	Buy	MASTERCARD INCORPORATEDcl a	$54,982,597	+1.5%	138,877	+0.8%	3.62%	+5.6%
LOW	Buy	LOWES COS INC	$54,174,304	-6.7%	260,654	+1.4%	3.56%	-2.8%
FB	Sell	META PLATFORMS INCcl a	$53,905,045	+4.5%	179,558	-0.1%	3.54%	+8.7%
MSFT	Sell	MICROSOFT CORP	$53,335,348	-23.2%	168,916	-17.2%	3.51%	-20.1%
DIS	Buy	DISNEY WALT CO	$51,132,353	-3.7%	630,874	+6.1%	3.36%	+0.3%
SCHW	Buy	SCHWAB CHARLES CORP	$50,838,765	-1.7%	926,025	+1.5%	3.34%	+2.4%
KMX	Buy	CARMAX INC	$50,197,936	-15.5%	709,712	+0.0%	3.30%	-12.0%
A	Buy	AGILENT TECHNOLOGIES INC	$48,536,049	-5.2%	434,055	+1.9%	3.19%	-1.3%
ZBRA	Buy	ZEBRA TECHNOLOGIES CORPORATIcl a	$43,769,034	-18.2%	185,046	+2.3%	2.88%	-14.9%
CRM	Buy	SALESFORCE INC	$41,037,400	-3.8%	202,374	+0.3%	2.70%	+0.2%
MCO	Buy	MOODYS CORP	$39,393,799	-8.2%	124,597	+1.0%	2.59%	-4.5%
IBDW	Buy	ISHARES TRibonds dec 2031	$38,440,868	+35.1%	1,983,021	+41.3%	2.53%	+40.6%
ROST	Buy	ROSS STORES INC	$37,805,439	+2.2%	334,710	+1.5%	2.49%	+6.4%
WFC	Buy	WELLS FARGO CO NEW	$36,222,559	-0.4%	886,504	+4.1%	2.38%	+3.7%
STIP	Buy	ISHARES TR0-5 yr tips etf	$32,645,564	+7.6%	336,830	+8.4%	2.15%	+12.0%
IBDO	Buy	ISHARES TRibonds dec23 etf	$31,089,309	+68.9%	1,225,919	+68.4%	2.04%	+75.8%
IBDR	New	ISHARES TRibonds dec2026	$30,863,197	–	1,322,614	–	2.03%	–
SBUX	Buy	STARBUCKS CORP	$30,180,644	-6.0%	330,674	+2.0%	1.98%	-2.2%
IBDU	Buy	ISHARES TRibonds dec 29	$30,100,103	+31.9%	1,374,434	+35.2%	1.98%	+37.2%
GWW	Sell	GRAINGER W W INC	$29,399,266	-12.4%	42,494	-0.1%	1.93%	-8.8%
MDT	Buy	MEDTRONIC PLC	$28,549,026	-9.1%	364,331	+2.2%	1.88%	-5.4%
IBDP	Buy	ISHARES TRibonds dec24 etf	$28,542,827	+2.6%	1,154,178	+2.2%	1.88%	+6.8%
NFLX	Buy	NETFLIX INC	$23,397,607	-13.5%	61,964	+0.9%	1.54%	-10.0%
IBTD	Sell	ISHARES TRibonds 23 trm ts	$20,708,109	-24.3%	834,332	-24.4%	1.36%	-21.2%
IBTE	Sell	ISHARES TRibonds 24 trm ts	$20,554,875	-25.5%	862,201	-25.6%	1.35%	-22.4%
ETN	Sell	EATON CORP PLC	$6,876,361	+3.7%	32,241	-2.2%	0.45%	+7.9%
ABC	Buy	CENCORA INC	$5,989,042	-6.4%	33,278	+0.1%	0.39%	-2.5%
EMR	Buy	EMERSON ELEC CO	$5,844,610	+11.0%	60,522	+3.9%	0.38%	+15.3%
CAT	Sell	CATERPILLAR INC	$5,327,049	+10.8%	19,513	-0.2%	0.35%	+15.1%
AAPL	Sell	APPLE INC	$4,939,462	-12.6%	28,850	-1.0%	0.32%	-9.0%
PG	Buy	PROCTER AND GAMBLE CO	$4,739,284	-1.2%	32,492	+2.8%	0.31%	+3.0%
CSCO	Buy	CISCO SYS INC	$4,511,325	+8.0%	83,916	+4.0%	0.30%	+12.5%
JNJ	Buy	JOHNSON & JOHNSON	$4,386,098	-2.3%	28,161	+3.8%	0.29%	+1.4%
MCD	Buy	MCDONALDS CORP	$4,281,691	-9.0%	16,253	+3.1%	0.28%	-5.1%
TGT	Buy	TARGET CORP	$4,268,445	-10.2%	38,604	+7.2%	0.28%	-6.3%
	New	BROOKFIELD ASSET MANAGMT LTD	$4,133,360	–	123,976	–	0.27%	–
SYY	Buy	SYSCO CORP	$4,132,095	-5.5%	62,560	+6.2%	0.27%	-1.4%
LMT	Buy	LOCKHEED MARTIN CORP	$3,865,899	-9.3%	9,453	+2.1%	0.25%	-5.6%
KMB	Buy	KIMBERLY-CLARK CORP	$3,850,161	-7.4%	31,859	+5.8%	0.25%	-3.8%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$3,765,196	-10.2%	24,156	+3.3%	0.25%	-6.4%
USB	Buy	US BANCORP DEL	$3,656,304	+4.7%	110,596	+4.6%	0.24%	+8.6%
MMM	Buy	3M CO	$3,640,695	+4.6%	38,888	+11.9%	0.24%	+8.6%
T	Buy	AT&T INC	$3,105,956	+7.7%	206,788	+14.3%	0.20%	+12.1%
VZ	Buy	VERIZON COMMUNICATIONS INC	$3,064,009	-3.1%	94,539	+11.2%	0.20%	+0.5%
WFCPRL	Sell	WELLS FARGO CO NEWperp pfd cnv a	$2,650,355	-5.0%	2,377	-1.9%	0.17%	-1.1%
BACPRL	Sell	BANK AMERICA CORP7.25%cnv pfd l	$2,350,100	-7.1%	2,113	-2.1%	0.16%	-3.1%
GOOG	Sell	ALPHABET INCcap stk cl c	$1,807,928	+5.2%	13,712	-3.4%	0.12%	+9.2%
UNP	Buy	UNION PAC CORP	$1,237,397	+0.0%	6,077	+0.5%	0.08%	+3.8%
CB	Buy	CHUBB LIMITED	$1,038,819	+8.6%	4,990	+0.5%	0.07%	+13.3%
PEP	Sell	PEPSICO INC	$733,323	-16.9%	4,328	-9.1%	0.05%	-14.3%
TIP	Buy	ISHARES TRtips bd etf	$612,363	-2.2%	5,904	+1.4%	0.04%	0.0%
BAC	Buy	BANK AMERICA CORP	$606,558	-3.4%	22,153	+1.3%	0.04%	0.0%
ABBV	Sell	ABBVIE INC	$578,055	+9.8%	3,878	-0.7%	0.04%	+15.2%
QCOM	Sell	QUALCOMM INC	$548,485	-14.0%	4,939	-7.8%	0.04%	-10.0%
CVX	Buy	CHEVRON CORP NEW	$408,757	+8.3%	2,424	+1.1%	0.03%	+12.5%
NVDA	Buy	NVIDIA CORPORATION	$413,676	+4.9%	951	+2.0%	0.03%	+8.0%
XOM	Sell	EXXON MOBIL CORP	$347,802	+7.7%	2,958	-1.8%	0.02%	+15.0%
ADBE	Sell	ADOBE INC	$345,713	-1.8%	678	-5.8%	0.02%	+4.5%
BLK	Sell	BLACKROCK INC	$327,124	-8.5%	506	-2.1%	0.02%	-4.3%
ESS	Sell	ESSEX PPTY TR INC	$339,132	-23.3%	1,599	-15.3%	0.02%	-21.4%
BKNG	Buy	BOOKING HOLDINGS INC	$333,067	+19.8%	108	+4.9%	0.02%	+22.2%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$322,410	-1.3%	2,298	-5.9%	0.02%	0.0%
MRK	Sell	MERCK & CO INC	$293,717	-13.8%	2,853	-3.4%	0.02%	-13.6%
NEE	Sell	NEXTERA ENERGY INC	$268,347	-24.6%	4,684	-2.3%	0.02%	-18.2%
TSLA	Sell	TESLA INC	$261,230	-6.6%	1,044	-2.3%	0.02%	-5.6%
SLB	New	SCHLUMBERGER LTD	$214,836	–	3,685	–	0.01%	–
TPVG	Exit	TRIPLEPOINT VENTURE GROWTH B	$0	–	-10,000	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-4,701	–	-0.01%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-925	–	-0.01%	–
TNET	Exit	TRINET GROUP INC	$0	–	-15,986	–	-0.10%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-155,772	–	-1.67%	–
IBDQ	Exit	ISHARES TRibonds dec25 etf	$0	–	-1,362,689	–	-2.10%	–

Q2 2023

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$69,484,176	–	204,041	–	4.39%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$68,532,872	–	200,976	–	4.33%	–
V	New	VISA INC	$67,417,399	–	283,887	–	4.26%	–
FISV	New	FISERV INC	$66,830,826	–	529,773	–	4.22%	–
AMZN	New	AMAZON COM INC	$65,035,301	–	498,890	–	4.11%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$62,979,518	–	624,053	–	3.98%	–
GOOGL	New	ALPHABET INCcap stk cl a	$62,956,146	–	525,949	–	3.98%	–
KMX	New	CARMAX INC	$59,380,386	–	709,443	–	3.75%	–
LOW	New	LOWES COS INC	$58,035,805	–	257,137	–	3.67%	–
ULTA	New	ULTA BEAUTY INC	$56,811,733	–	120,723	–	3.59%	–
MA	New	MASTERCARD INCORPORATEDcl a	$54,195,328	–	137,796	–	3.42%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$53,519,474	–	180,913	–	3.38%	–
DIS	New	DISNEY WALT CO	$53,080,937	–	594,545	–	3.35%	–
SCHW	New	SCHWAB CHARLES CORP	$51,703,607	–	912,202	–	3.27%	–
FB	New	META PLATFORMS INCcl a	$51,602,819	–	179,813	–	3.26%	–
A	New	AGILENT TECHNOLOGIES INC	$51,200,793	–	425,786	–	3.23%	–
MCO	New	MOODYS CORP	$42,915,113	–	123,419	–	2.71%	–
CRM	New	SALESFORCE INC	$42,640,719	–	201,840	–	2.69%	–
ROST	New	ROSS STORES INC	$36,981,220	–	329,807	–	2.34%	–
WFC	New	WELLS FARGO CO NEW	$36,357,826	–	851,870	–	2.30%	–
GWW	New	GRAINGER W W INC	$33,554,483	–	42,550	–	2.12%	–
IBDQ	New	ISHARES TRibonds dec25 etf	$33,222,369	–	1,362,689	–	2.10%	–
SBUX	New	STARBUCKS CORP	$32,109,866	–	324,146	–	2.03%	–
MDT	New	MEDTRONIC PLC	$31,418,734	–	356,625	–	1.98%	–
STIP	New	ISHARES TR0-5 yr tips etf	$30,337,789	–	310,838	–	1.92%	–
IBDW	New	ISHARES TRibonds dec 2031	$28,447,129	–	1,403,410	–	1.80%	–
IBDP	New	ISHARES TRibonds dec24 etf	$27,810,076	–	1,129,573	–	1.76%	–
IBTE	New	ISHARES TRibonds 24 trm ts	$27,573,624	–	1,158,556	–	1.74%	–
IBTD	New	ISHARES TRibonds 23 trm ts	$27,373,203	–	1,103,313	–	1.73%	–
NFLX	New	NETFLIX INC	$27,045,646	–	61,399	–	1.71%	–
DG	New	DOLLAR GEN CORP NEW	$26,446,973	–	155,772	–	1.67%	–
IBDU	New	ISHARES TRibonds dec 29	$22,824,332	–	1,016,674	–	1.44%	–
IBDO	New	ISHARES TRibonds dec23 etf	$18,406,701	–	727,825	–	1.16%	–
ETN	New	EATON CORP PLC	$6,632,278	–	32,980	–	0.42%	–
ABC	New	AMERISOURCEBERGEN CORP	$6,395,989	–	33,238	–	0.40%	–
AAPL	New	APPLE INC	$5,654,430	–	29,151	–	0.36%	–
EMR	New	EMERSON ELEC CO	$5,267,116	–	58,271	–	0.33%	–
CAT	New	CATERPILLAR INC	$4,809,294	–	19,546	–	0.30%	–
PG	New	PROCTER AND GAMBLE CO	$4,795,895	–	31,606	–	0.30%	–
TGT	New	TARGET CORP	$4,751,566	–	36,024	–	0.30%	–
MCD	New	MCDONALDS CORP	$4,705,329	–	15,768	–	0.30%	–
JNJ	New	JOHNSON & JOHNSON	$4,490,581	–	27,130	–	0.28%	–
SYY	New	SYSCO CORP	$4,371,790	–	58,919	–	0.28%	–
LMT	New	LOCKHEED MARTIN CORP	$4,264,500	–	9,263	–	0.27%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$4,191,403	–	23,383	–	0.26%	–
CSCO	New	CISCO SYS INC	$4,176,298	–	80,717	–	0.26%	–
KMB	New	KIMBERLY-CLARK CORP	$4,158,782	–	30,123	–	0.26%	–
USB	New	US BANCORP DEL	$3,492,196	–	105,696	–	0.22%	–
MMM	New	3M CO	$3,478,929	–	34,758	–	0.22%	–
VZ	New	VERIZON COMMUNICATIONS INC	$3,162,155	–	85,027	–	0.20%	–
T	New	AT&T INC	$2,884,542	–	180,849	–	0.18%	–
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$2,791,296	–	2,423	–	0.18%	–
BACPRL	New	BANK AMERICA CORP7.25%cnv pfd l	$2,528,788	–	2,158	–	0.16%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,717,774	–	14,200	–	0.11%	–
TNET	New	TRINET GROUP INC	$1,518,191	–	15,986	–	0.10%	–
UNP	New	UNION PAC CORP	$1,237,069	–	6,046	–	0.08%	–
CB	New	CHUBB LIMITED	$956,253	–	4,966	–	0.06%	–
PEP	New	PEPSICO INC	$881,952	–	4,762	–	0.06%	–
IVV	New	ISHARES TRcore s&p500 etf	$657,051	–	1,474	–	0.04%	–
BAC	New	BANK AMERICA CORP	$627,620	–	21,876	–	0.04%	–
TIP	New	ISHARES TRtips bd etf	$626,349	–	5,820	–	0.04%	–
QCOM	New	QUALCOMM INC	$637,618	–	5,356	–	0.04%	–
KO	New	COCA COLA CO	$577,691	–	9,593	–	0.04%	–
DEO	New	DIAGEO PLCspon adr new	$562,076	–	3,240	–	0.04%	–
EOG	New	EOG RES INC	$514,523	–	4,496	–	0.03%	–
SO	New	SOUTHERN CO	$523,363	–	7,450	–	0.03%	–
ABBV	New	ABBVIE INC	$526,256	–	3,906	–	0.03%	–
ESS	New	ESSEX PPTY TR INC	$442,359	–	1,888	–	0.03%	–
NVDA	New	NVIDIA CORPORATION	$394,255	–	932	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$395,743	–	2,721	–	0.02%	–
DE	New	DEERE & CO	$383,310	–	946	–	0.02%	–
CVX	New	CHEVRON CORP NEW	$377,358	–	2,398	–	0.02%	–
BLK	New	BLACKROCK INC	$357,320	–	517	–	0.02%	–
HD	New	HOME DEPOT INC	$359,722	–	1,158	–	0.02%	–
MRK	New	MERCK & CO INC	$340,747	–	2,953	–	0.02%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$352,073	–	720	–	0.02%	–
NEE	New	NEXTERA ENERGY INC	$355,789	–	4,795	–	0.02%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$326,631	–	2,441	–	0.02%	–
XOM	New	EXXON MOBIL CORP	$322,930	–	3,011	–	0.02%	–
WMT	New	WALMART INC	$297,699	–	1,894	–	0.02%	–
BKNG	New	BOOKING HOLDINGS INC	$278,134	–	103	–	0.02%	–
TSLA	New	TESLA INC	$279,833	–	1,069	–	0.02%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$240,049	–	9,110	–	0.02%	–
LH	New	LABORATORY CORP AMER HLDGS	$223,231	–	925	–	0.01%	–
C	New	CITIGROUP INC	$216,435	–	4,701	–	0.01%	–
TPVG	New	TRIPLEPOINT VENTURE GROWTH B	$117,800	–	10,000	–	0.01%	–
ECC	New	EAGLE POINT CREDIT COMPANY I	$101,600	–	10,000	–	0.01%	–
OXLC	New	OXFORD LANE CAP CORP	$96,800	–	20,000	–	0.01%	–
XFLT	New	XAI OCTAGON FLOATING RATE &	$66,800	–	10,000	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
XFLT	Exit	XAI OCTAGON FLOATING RATE &	$0	–	-10,000	–	-0.00%	–
OXLC	Exit	OXFORD LANE CAP CORP	$0	–	-20,000	–	-0.01%	–
TPVG	Exit	TRIPLEPOINT VENTURE GROWTH B	$0	–	-10,000	–	-0.01%	–
NEWT	Exit	NEWTEK BUSINESS SVCS CORP	$0	–	-10,000	–	-0.01%	–
EQR	Exit	EQUITY RESIDENTIALsh ben int	$0	–	-3,000	–	-0.02%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-125	–	-0.02%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-9,110	–	-0.02%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-1,015	–	-0.02%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-798	–	-0.02%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-3,000	–	-0.02%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-3,302	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-492	–	-0.02%	–
TSLA	Exit	TESLA INC	$0	–	-1,014	–	-0.02%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-2,977	–	-0.02%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-2,205	–	-0.02%	–
DE	Exit	DEERE & CO	$0	–	-815	–	-0.02%	–
C	Exit	CITIGROUP INC	$0	–	-6,778	–	-0.02%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-2,816	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,810	–	-0.02%	–
MRK	Exit	MERCK & CO INC	$0	–	-3,400	–	-0.02%	–
BLK	Exit	BLACKROCK INC	$0	–	-558	–	-0.02%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-4,012	–	-0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,176	–	-0.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,750	–	-0.02%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-1,599	–	-0.03%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,196	–	-0.03%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,500	–	-0.03%	–
EOG	Exit	EOG RES INC	$0	–	-4,663	–	-0.04%	–
QCOM	Exit	QUALCOMM INC	$0	–	-4,785	–	-0.04%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,059	–	-0.04%	–
KO	Exit	COCA COLA CO	$0	–	-9,844	–	-0.04%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-1,572	–	-0.04%	–
SO	Exit	SOUTHERN CO	$0	–	-8,824	–	-0.04%	–
DEO	Exit	DIAGEO PLCspon adr new	$0	–	-3,490	–	-0.04%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-1,744	–	-0.05%	–
IGSB	Exit	ISHARES TR	$0	–	-14,436	–	-0.05%	–
PEP	Exit	PEPSICO INC	$0	–	-4,785	–	-0.06%	–
CB	Exit	CHUBB LIMITED	$0	–	-4,600	–	-0.06%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-29,638	–	-0.07%	–
UNP	Exit	UNION PAC CORP	$0	–	-6,124	–	-0.09%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-19,266	–	-0.14%	–
T	Exit	AT&T INC	$0	–	-140,829	–	-0.16%	–
TGT	Exit	TARGET CORP	$0	–	-16,196	–	-0.18%	–
USB	Exit	US BANCORP DEL	$0	–	-61,848	–	-0.19%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-66,578	–	-0.19%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-34,393	–	-0.20%	–
BACPRL	Exit	BK OF AMERICA CORP7.25%cnv pfd l	$0	–	-2,279	–	-0.20%	–
MMM	Exit	3M CO	$0	–	-25,312	–	-0.21%	–
CSCO	Exit	CISCO SYS INC	$0	–	-70,173	–	-0.21%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-25,763	–	-0.22%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-27,847	–	-0.22%	–
WFCPRL	Exit	WELLS FARGO CO NEWperp pfd cnv a	$0	–	-2,556	–	-0.23%	–
CAT	Exit	CATERPILLAR INC	$0	–	-18,919	–	-0.23%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-20,159	–	-0.25%	–
MCD	Exit	MCDONALDS CORP	$0	–	-14,559	–	-0.25%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-8,775	–	-0.26%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-28,205	–	-0.27%	–
MTB	Exit	M & T BK CORP	$0	–	-20,257	–	-0.27%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-48,952	–	-0.27%	–
SYY	Exit	SYSCO CORP	$0	–	-51,693	–	-0.28%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-23,772	–	-0.29%	–
ETN	Exit	EATON CORP PLC	$0	–	-29,362	–	-0.30%	–
AAPL	Exit	APPLE INC	$0	–	-30,774	–	-0.32%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-34,469	–	-0.35%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-43,143	–	-0.38%	–
IBDO	Exit	ISHARES TRibonds dec23 etf	$0	–	-714,378	–	-1.34%	–
IBDR	Exit	ISHARES TRibonds dec2026	$0	–	-771,134	–	-1.34%	–
GWW	Exit	GRAINGER W W INC	$0	–	-44,733	–	-1.65%	–
KMX	Exit	CARMAX INC	$0	–	-366,692	–	-1.83%	–
AMZN	Exit	AMAZON COM INC	$0	–	-217,092	–	-1.85%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-105,088	–	-1.90%	–
STIP	Exit	ISHARES TR0-5 yr tips etf	$0	–	-275,077	–	-2.00%	–
IBDP	Exit	ISHARES TRibonds dec24 etf	$0	–	-1,089,832	–	-2.00%	–
IBTE	Exit	ISHARES TRibonds 24 trm ts	$0	–	-1,123,253	–	-2.03%	–
IBTD	Exit	ISHARES TRibonds 23 trm ts	$0	–	-1,086,953	–	-2.03%	–
CRM	Exit	SALESFORCE INC	$0	–	-194,255	–	-2.11%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-359,153	–	-2.19%	–
IBDT	Exit	ISHARES TRibds dec28 etf	$0	–	-1,271,533	–	-2.28%	–
A	Exit	AGILENT TECHNOLOGIES INC	$0	–	-254,277	–	-2.33%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-793,969	–	-2.41%	–
IBDQ	Exit	ISHARES TRibonds dec25 etf	$0	–	-1,332,423	–	-2.43%	–
NFLX	Exit	NETFLIX INC	$0	–	-140,080	–	-2.49%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-76,268	–	-2.71%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-280,964	–	-2.88%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATIcl a	$0	–	-147,300	–	-2.91%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-462,711	–	-2.94%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-139,174	–	-2.99%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-571,690	–	-3.10%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-622,412	–	-3.22%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-120,478	–	-3.65%	–
V	Exit	VISA INC	$0	–	-289,036	–	-3.88%	–
DIS	Exit	DISNEY WALT CO	$0	–	-549,770	–	-3.92%	–
ROST	Exit	ROSS STORES INC	$0	–	-625,226	–	-3.98%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-203,177	–	-4.10%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-590,328	–	-4.26%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-251,983	–	-4.43%	–
FISV	Exit	FISERV INC	$0	–	-633,382	–	-4.47%	–
LOW	Exit	LOWES COS INC	$0	–	-357,884	–	-5.07%	–

Q3 2022

			Value		Shares		↓ Weighting
LOW	Sell	LOWES COS INC	$67,214,000	+6.5%	357,884	-1.0%	5.07%	+10.0%
FISV	Sell	FISERV INC	$59,266,000	+3.0%	633,382	-2.0%	4.47%	+6.5%
MSFT	Buy	MICROSOFT CORP	$58,687,000	-8.9%	251,983	+0.5%	4.43%	-5.8%
GOOGL	Buy	ALPHABET INCcap stk cl a	$56,465,000	-12.8%	590,328	+1886.1%	4.26%	-9.9%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$54,252,000	-1.8%	203,177	+0.4%	4.10%	+1.5%
ROST	Sell	ROSS STORES INC	$52,688,000	+18.6%	625,226	-1.2%	3.98%	+22.5%
DIS	Buy	DISNEY WALT CO	$51,860,000	+29.7%	549,770	+29.8%	3.92%	+34.0%
V	Sell	VISA INC	$51,347,000	-19.2%	289,036	-10.5%	3.88%	-16.5%
ULTA	Sell	ULTA BEAUTY INC	$48,335,000	+2.7%	120,478	-1.3%	3.65%	+6.1%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$42,673,000	+1.1%	622,412	+20.6%	3.22%	+4.5%
SCHW	Sell	SCHWAB CHARLES CORP	$41,087,000	+12.3%	571,690	-1.3%	3.10%	+16.1%
MA	Sell	MASTERCARD INCORPORATEDcl a	$39,573,000	-21.4%	139,174	-12.8%	2.99%	-18.8%
SBUX	Sell	STARBUCKS CORP	$38,988,000	+8.4%	462,711	-1.7%	2.94%	+12.0%
ZBRA	Buy	ZEBRA TECHNOLOGIES CORPORATIcl a	$38,594,000	+15.3%	147,300	+29.4%	2.91%	+19.1%
FB	Buy	META PLATFORMS INCcl a	$38,121,000	-13.8%	280,964	+2.5%	2.88%	-10.9%
NOC	Sell	NORTHROP GRUMMAN CORP	$35,870,000	-25.8%	76,268	-24.5%	2.71%	-23.3%
NFLX	Sell	NETFLIX INC	$32,980,000	+33.3%	140,080	-1.0%	2.49%	+37.7%
IBDQ	New	ISHARES TRibonds dec25 etf	$32,151,000	–	1,332,423	–	2.43%	–
WFC	Buy	WELLS FARGO CO NEW	$31,933,000	+4.8%	793,969	+2.0%	2.41%	+8.3%
A	Sell	AGILENT TECHNOLOGIES INC	$30,907,000	+0.3%	254,277	-2.0%	2.33%	+3.6%
IBDT	New	ISHARES TRibds dec28 etf	$30,250,000	–	1,271,533	–	2.28%	–
MDT	Buy	MEDTRONIC PLC	$29,002,000	-9.1%	359,153	+1.0%	2.19%	-6.1%
CRM	Sell	SALESFORCE INC	$27,942,000	-12.9%	194,255	-0.1%	2.11%	-10.0%
IBTD	New	ISHARES TRibonds 23 trm ts	$26,924,000	–	1,086,953	–	2.03%	–
IBTE	New	ISHARES TRibonds 24 trm ts	$26,902,000	–	1,123,253	–	2.03%	–
IBDP	New	ISHARES TRibonds dec24 etf	$26,537,000	–	1,089,832	–	2.00%	–
STIP	New	ISHARES TR0-5 yr tips etf	$26,438,000	–	275,077	–	2.00%	–
DG	Sell	DOLLAR GEN CORP NEW	$25,206,000	-3.2%	105,088	-1.0%	1.90%	0.0%
AMZN	Buy	AMAZON COM INC	$24,531,000	+7.1%	217,092	+0.7%	1.85%	+10.6%
KMX	Sell	CARMAX INC	$24,209,000	-27.6%	366,692	-0.7%	1.83%	-25.2%
GWW	Sell	GRAINGER W W INC	$21,883,000	-26.7%	44,733	-31.9%	1.65%	-24.3%
IBDR	New	ISHARES TRibonds dec2026	$17,813,000	–	771,134	–	1.34%	–
IBDO	New	ISHARES TRibonds dec23 etf	$17,824,000	–	714,378	–	1.34%	–
PGR	Buy	PROGRESSIVE CORP	$5,014,000	+1.7%	43,143	+1.7%	0.38%	+5.0%
ABC	Buy	AMERISOURCEBERGEN CORP	$4,665,000	+0.0%	34,469	+4.6%	0.35%	+3.2%
AAPL	Buy	APPLE INC	$4,253,000	+20.2%	30,774	+19.0%	0.32%	+24.4%
ETN	Buy	EATON CORP PLC	$3,916,000	+13.7%	29,362	+7.4%	0.30%	+17.5%
JNJ	Buy	JOHNSON & JOHNSON	$3,883,000	+0.4%	23,772	+9.1%	0.29%	+3.5%
SYY	Buy	SYSCO CORP	$3,655,000	-12.9%	51,693	+4.4%	0.28%	-9.8%
EMR	Buy	EMERSON ELEC CO	$3,584,000	-0.4%	48,952	+8.2%	0.27%	+3.0%
MTB	Buy	M & T BK CORP	$3,572,000	+16.2%	20,257	+5.0%	0.27%	+20.0%
PG	Buy	PROCTER AND GAMBLE CO	$3,561,000	-4.0%	28,205	+9.4%	0.27%	-0.7%
LMT	Buy	LOCKHEED MARTIN CORP	$3,390,000	-6.2%	8,775	+4.4%	0.26%	-3.0%
MCD	Buy	MCDONALDS CORP	$3,359,000	-0.1%	14,559	+6.9%	0.25%	+3.3%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$3,256,000	-5.3%	20,159	+7.1%	0.25%	-2.0%
CAT	Buy	CATERPILLAR INC	$3,104,000	+1.2%	18,919	+10.2%	0.23%	+4.5%
WFCPRL	Sell	WELLS FARGO CO NEWperp pfd cnv a	$3,077,000	-8.9%	2,556	-8.0%	0.23%	-6.1%
TIP	Sell	ISHARES TRtips bd etf	$2,921,000	-95.3%	27,847	-94.9%	0.22%	-95.1%
KMB	Buy	KIMBERLY-CLARK CORP	$2,899,000	-11.1%	25,763	+6.8%	0.22%	-8.0%
CSCO	Buy	CISCO SYS INC	$2,807,000	+4.9%	70,173	+11.8%	0.21%	+8.2%
MMM	Buy	3M CO	$2,797,000	-5.3%	25,312	+10.9%	0.21%	-2.3%
BACPRL	Sell	BK OF AMERICA CORP7.25%cnv pfd l	$2,673,000	-10.8%	2,279	-8.4%	0.20%	-7.8%
NVS	Buy	NOVARTIS AGsponsored adr	$2,614,000	-3.8%	34,393	+7.0%	0.20%	-0.5%
VZ	Buy	VERIZON COMMUNICATIONS INC	$2,528,000	-15.5%	66,578	+13.0%	0.19%	-12.8%
USB	Buy	US BANCORP DEL	$2,494,000	-4.1%	61,848	+9.4%	0.19%	-1.1%
TGT	Buy	TARGET CORP	$2,403,000	+17.3%	16,196	+11.6%	0.18%	+20.7%
T	Buy	AT&T INC	$2,160,000	-15.6%	140,829	+15.4%	0.16%	-12.8%
GOOG	Buy	ALPHABET INCcap stk cl c	$1,852,000	-3.3%	19,266	+2099.3%	0.14%	0.0%
UNP	Buy	UNION PAC CORP	$1,193,000	-1.2%	6,124	+8.3%	0.09%	+2.3%
BAC	Buy	BK OF AMERICA CORP	$895,000	+6.0%	29,638	+9.3%	0.07%	+9.7%
PEP	Buy	PEPSICO INC	$781,000	+14.0%	4,785	+16.5%	0.06%	+18.0%
IGSB	Sell	ISHARES TR	$711,000	-99.1%	14,436	-99.1%	0.05%	-99.1%
SPY	New	SPDR S&P 500 ETF TRtr unit	$623,000	–	1,744	–	0.05%	–
SO	Buy	SOUTHERN CO	$600,000	+13.0%	8,824	+18.4%	0.04%	+15.4%
DEO	Sell	DIAGEO PLCspon adr new	$593,000	-5.3%	3,490	-2.9%	0.04%	-2.2%
KO	Buy	COCA COLA CO	$551,000	+8.9%	9,844	+22.4%	0.04%	+13.5%
QCOM	Buy	QUALCOMM INC	$541,000	-10.9%	4,785	+0.7%	0.04%	-6.8%
ABBV	Buy	ABBVIE INC	$545,000	+5.0%	4,059	+19.8%	0.04%	+7.9%
EOG	Buy	EOG RES INC	$521,000	+17.9%	4,663	+16.6%	0.04%	+21.9%
HD	Buy	HOME DEPOT INC	$414,000	+45.8%	1,500	+44.9%	0.03%	+47.6%
AGG	Sell	ISHARES TRcore us aggbd et	$404,000	-99.2%	4,196	-99.1%	0.03%	-99.1%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$327,000	+4.8%	2,750	+24.3%	0.02%	+8.7%
NEE	Buy	NEXTERA ENERGY INC	$315,000	+1.6%	4,012	+0.3%	0.02%	+4.3%
CVX	New	CHEVRON CORP NEW	$313,000	–	2,176	–	0.02%	–
BLK	Buy	BLACKROCK INC	$307,000	+11.6%	558	+23.7%	0.02%	+15.0%
LQD	Sell	ISHARES TRiboxx inv cp etf	$289,000	-99.2%	2,816	-99.1%	0.02%	-99.2%
JPM	New	JPMORGAN CHASE & CO	$294,000	–	2,810	–	0.02%	–
MRK	New	MERCK & CO INC	$293,000	–	3,400	–	0.02%	–
C	Buy	CITIGROUP INC	$282,000	+16.0%	6,778	+28.3%	0.02%	+16.7%
NVDA	New	NVIDIA CORPORATION	$268,000	–	2,205	–	0.02%	–
TSLA	New	TESLA INC	$269,000	–	1,014	–	0.02%	–
XOM	New	EXXON MOBIL CORP	$260,000	–	2,977	–	0.02%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$235,000	–	3,302	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$232,000	–	492	–	0.02%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$220,000	–	798	–	0.02%	–
NEWT	New	NEWTEK BUSINESS SVCS CORP	$163,000	–	10,000	–	0.01%	–
TPVG	New	TRIPLEPOINT VENTURE GROWTH B	$109,000	–	10,000	–	0.01%	–
XFLT	New	XAI OCTAGON FLOATING RATE &	$59,000	–	10,000	–	0.00%	–
CWBR	Exit	COHBAR INC	$0	–	-25,000	–	0.00%	–
	Exit	WARNER BROS DISCOVERY INC	$0	–	-27,461	–	-0.03%	–

Q2 2022

			Value		Shares		↓ Weighting
IGSB	New	ISHARES TR	$80,141,000	–	1,585,385	–	5.86%	–
GOOGL	New	ALPHABET INCcap stk cl a	$64,774,000	–	29,723	–	4.73%	–
MSFT	New	MICROSOFT CORP	$64,404,000	–	250,764	–	4.70%	–
V	New	VISA INC	$63,561,000	–	322,827	–	4.64%	–
LOW	New	LOWES COS INC	$63,117,000	–	361,352	–	4.61%	–
TIP	New	ISHARES TRtips bd etf	$61,969,000	–	544,015	–	4.53%	–
FISV	New	FISERV INC	$57,513,000	–	646,436	–	4.20%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$55,225,000	–	202,275	–	4.03%	–
MA	New	MASTERCARD INCORPORATEDcl a	$50,338,000	–	159,560	–	3.68%	–
NOC	New	NORTHROP GRUMMAN CORP	$48,319,000	–	100,965	–	3.53%	–
AGG	New	ISHARES TRcore us aggbd et	$47,725,000	–	469,368	–	3.49%	–
ULTA	New	ULTA BEAUTY INC	$47,060,000	–	122,081	–	3.44%	–
ROST	New	ROSS STORES INC	$44,435,000	–	632,703	–	3.25%	–
FB	New	META PLATFORMS INCcl a	$44,201,000	–	274,112	–	3.23%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$42,193,000	–	516,128	–	3.08%	–
DIS	New	DISNEY WALT CO	$39,992,000	–	423,639	–	2.92%	–
SCHW	New	SCHWAB CHARLES CORP	$36,578,000	–	578,951	–	2.67%	–
SBUX	New	STARBUCKS CORP	$35,963,000	–	470,786	–	2.63%	–
LQD	New	ISHARES TRiboxx inv cp etf	$35,809,000	–	325,447	–	2.62%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$33,462,000	–	113,835	–	2.44%	–
KMX	New	CARMAX INC	$33,421,000	–	369,370	–	2.44%	–
CRM	New	SALESFORCE INC	$32,091,000	–	194,443	–	2.34%	–
MDT	New	MEDTRONIC PLC	$31,906,000	–	355,504	–	2.33%	–
A	New	AGILENT TECHNOLOGIES INC	$30,811,000	–	259,415	–	2.25%	–
WFC	New	WELLS FARGO CO NEW	$30,482,000	–	778,187	–	2.23%	–
GWW	New	GRAINGER W W INC	$29,872,000	–	65,735	–	2.18%	–
DG	New	DOLLAR GEN CORP NEW	$26,047,000	–	106,123	–	1.90%	–
NFLX	New	NETFLIX INC	$24,748,000	–	141,524	–	1.81%	–
AMZN	New	AMAZON COM INC	$22,908,000	–	215,684	–	1.67%	–
PGR	New	PROGRESSIVE CORP	$4,931,000	–	42,408	–	0.36%	–
ABC	New	AMERISOURCEBERGEN CORP	$4,663,000	–	32,956	–	0.34%	–
SYY	New	SYSCO CORP	$4,195,000	–	49,523	–	0.31%	–
JNJ	New	JOHNSON & JOHNSON	$3,869,000	–	21,795	–	0.28%	–
PG	New	PROCTER AND GAMBLE CO	$3,709,000	–	25,791	–	0.27%	–
LMT	New	LOCKHEED MARTIN CORP	$3,613,000	–	8,404	–	0.26%	–
EMR	New	EMERSON ELEC CO	$3,600,000	–	45,260	–	0.26%	–
AAPL	New	APPLE INC	$3,537,000	–	25,868	–	0.26%	–
ETN	New	EATON CORP PLC	$3,443,000	–	27,330	–	0.25%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$3,437,000	–	18,828	–	0.25%	–
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$3,378,000	–	2,779	–	0.25%	–
MCD	New	MCDONALDS CORP	$3,363,000	–	13,623	–	0.25%	–
KMB	New	KIMBERLY-CLARK CORP	$3,260,000	–	24,121	–	0.24%	–
MTB	New	M & T BK CORP	$3,074,000	–	19,287	–	0.22%	–
CAT	New	CATERPILLAR INC	$3,068,000	–	17,165	–	0.22%	–
BACPRL	New	BK OF AMERICA CORP7.25%cnv pfd l	$2,996,000	–	2,487	–	0.22%	–
VZ	New	VERIZON COMMUNICATIONS INC	$2,991,000	–	58,930	–	0.22%	–
MMM	New	3M CO	$2,953,000	–	22,821	–	0.22%	–
NVS	New	NOVARTIS AGsponsored adr	$2,716,000	–	32,134	–	0.20%	–
CSCO	New	CISCO SYS INC	$2,677,000	–	62,779	–	0.20%	–
USB	New	US BANCORP DEL	$2,601,000	–	56,520	–	0.19%	–
T	New	AT&T INC	$2,558,000	–	122,045	–	0.19%	–
TGT	New	TARGET CORP	$2,049,000	–	14,511	–	0.15%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,916,000	–	876	–	0.14%	–
UNP	New	UNION PAC CORP	$1,207,000	–	5,657	–	0.09%	–
CB	New	CHUBB LIMITED	$904,000	–	4,600	–	0.07%	–
BAC	New	BK OF AMERICA CORP	$844,000	–	27,121	–	0.06%	–
PEP	New	PEPSICO INC	$685,000	–	4,108	–	0.05%	–
DEO	New	DIAGEO PLCspon adr new	$626,000	–	3,594	–	0.05%	–
IVV	New	ISHARES TRcore s&p500 etf	$596,000	–	1,572	–	0.04%	–
QCOM	New	QUALCOMM INC	$607,000	–	4,753	–	0.04%	–
SO	New	SOUTHERN CO	$531,000	–	7,450	–	0.04%	–
ABBV	New	ABBVIE INC	$519,000	–	3,389	–	0.04%	–
KO	New	COCA COLA CO	$506,000	–	8,042	–	0.04%	–
EOG	New	EOG RES INC	$442,000	–	4,000	–	0.03%	–
ESS	New	ESSEX PPTY TR INC	$418,000	–	1,599	–	0.03%	–
	New	WARNER BROS DISCOVERY INC	$369,000	–	27,461	–	0.03%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$312,000	–	2,213	–	0.02%	–
NEE	New	NEXTERA ENERGY INC	$310,000	–	4,000	–	0.02%	–
HD	New	HOME DEPOT INC	$284,000	–	1,035	–	0.02%	–
BLK	New	BLACKROCK INC	$275,000	–	451	–	0.02%	–
DE	New	DEERE & CO	$244,000	–	815	–	0.02%	–
C	New	CITIGROUP INC	$243,000	–	5,284	–	0.02%	–
LH	New	LABORATORY CORP AMER HLDGS	$238,000	–	1,015	–	0.02%	–
BKNG	New	BOOKING HOLDINGS INC	$219,000	–	125	–	0.02%	–
BOH	New	BANK HAWAII CORP	$223,000	–	3,000	–	0.02%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$222,000	–	9,110	–	0.02%	–
EQR	New	EQUITY RESIDENTIALsh ben int	$217,000	–	3,000	–	0.02%	–
OXLC	New	OXFORD LANE CAP CORP	$114,000	–	20,000	–	0.01%	–
CWBR	New	COHBAR INC	$5,000	–	25,000	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-34,237	–	-0.18%	–
T	Exit	AT&T INC	$0	–	-111,012	–	-0.19%	–
MTB	Exit	M & T BK CORP	$0	–	-21,099	–	-0.20%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-31,692	–	-0.20%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-59,538	–	-0.20%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-25,032	–	-0.21%	–
CAT	Exit	CATERPILLAR INC	$0	–	-19,197	–	-0.23%	–
USB	Exit	US BANCORP DEL	$0	–	-62,852	–	-0.23%	–
MCD	Exit	MCDONALDS CORP	$0	–	-15,916	–	-0.24%	–
CSCO	Exit	CISCO SYS INC	$0	–	-72,937	–	-0.25%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-21,881	–	-0.25%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-24,765	–	-0.25%	–
HBI	Exit	HANESBRANDS INC	$0	–	-233,767	–	-0.25%	–
MMM	Exit	3M CO	$0	–	-23,306	–	-0.26%	–
AAPL	Exit	APPLE INC	$0	–	-29,129	–	-0.26%	–
SYY	Exit	SYSCO CORP	$0	–	-54,189	–	-0.27%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-38,602	–	-0.27%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-30,920	–	-0.27%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-49,810	–	-0.28%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-49,808	–	-0.29%	–
ETN	Exit	EATON CORP PLC	$0	–	-31,596	–	-0.30%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-39,947	–	-0.30%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATIcl a	$0	–	-50,540	–	-1.63%	–
GWW	Exit	GRAINGER W W INC	$0	–	-70,094	–	-1.72%	–
KMX	Exit	CARMAX INC	$0	–	-230,790	–	-1.85%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-739,614	–	-1.96%	–
A	Exit	AGILENT TECHNOLOGIES INC	$0	–	-220,927	–	-2.18%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-104,603	–	-2.36%	–
C	Exit	CITIGROUP INC	$0	–	-543,331	–	-2.38%	–
ROST	Exit	ROSS STORES INC	$0	–	-359,631	–	-2.45%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-192,603	–	-2.55%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-329,760	–	-2.58%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-318,298	–	-2.65%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-158,890	–	-2.69%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-611,010	–	-2.78%	–
V	Exit	VISA INC	$0	–	-236,367	–	-3.29%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-467,939	–	-3.36%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-160,141	–	-3.48%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-23,743	–	-3.52%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-1,257,748	–	-3.65%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-167,955	–	-3.79%	–
DIS	Exit	DISNEY WALT CO	$0	–	-368,791	–	-3.90%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-531,580	–	-4.24%	–
FISV	Exit	FISERV INC	$0	–	-630,012	–	-4.27%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-266,132	–	-4.69%	–
LOW	Exit	LOWES COS INC	$0	–	-396,792	–	-5.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-307,456	–	-5.25%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-32,352	–	-5.41%	–
IGSB	Exit	ISHARES TR	$0	–	-1,585,948	–	-5.42%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-262,367	–	-5.57%	–

Q3 2021

			Value		Shares		↓ Weighting
FB	Sell	FACEBOOK INCcl a	$89,045,000	-2.6%	262,367	-0.2%	5.57%	-1.8%
IGSB	Buy	ISHARES TR	$86,656,000	+2.5%	1,585,948	+2.8%	5.42%	+3.4%
GOOGL	Sell	ALPHABET INCcap stk cl a	$86,493,000	+7.6%	32,352	-1.7%	5.41%	+8.5%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$83,917,000	+0.1%	307,456	+1.9%	5.25%	+0.9%
LOW	Buy	LOWES COS INC	$80,493,000	+5.6%	396,792	+1.0%	5.03%	+6.5%
MSFT	Sell	MICROSOFT CORP	$75,028,000	+3.8%	266,132	-0.3%	4.69%	+4.6%
FISV	Buy	FISERV INC	$68,356,000	+37.1%	630,012	+35.1%	4.27%	+38.3%
TIP	Buy	ISHARES TRtips bd etf	$67,878,000	+2.2%	531,580	+2.5%	4.24%	+3.1%
DIS	Buy	DISNEY WALT CO	$62,388,000	-1.1%	368,791	+2.8%	3.90%	-0.2%
ULTA	Sell	ULTA BEAUTY INC	$60,618,000	-10.6%	167,955	-14.3%	3.79%	-9.9%
WFC	Sell	WELLS FARGO CO NEW	$58,372,000	-14.4%	1,257,748	-16.4%	3.65%	-13.6%
BKNG	Buy	BOOKING HOLDINGS INC	$56,363,000	+11.4%	23,743	+2.7%	3.52%	+12.3%
MA	Buy	MASTERCARD INCORPORATEDcl a	$55,678,000	+30.1%	160,141	+36.6%	3.48%	+31.2%
AGG	Buy	ISHARES TRcore us aggbd et	$53,733,000	+2.2%	467,939	+2.6%	3.36%	+3.0%
V	Buy	VISA INC	$52,651,000	-2.4%	236,367	+2.4%	3.29%	-1.6%
SCHW	Buy	SCHWAB CHARLES CORP	$44,506,000	+1.9%	611,010	+1.8%	2.78%	+2.7%
CRM	Buy	SALESFORCE COM INC	$43,094,000	+48.6%	158,890	+33.8%	2.69%	+49.8%
LQD	Buy	ISHARES TRiboxx inv cp etf	$42,343,000	+1.3%	318,298	+2.3%	2.65%	+2.1%
MDT	Buy	MEDTRONIC PLC	$41,335,000	+3.4%	329,760	+2.4%	2.58%	+4.3%
DG	Buy	DOLLAR GEN CORP NEW	$40,859,000	+0.4%	192,603	+2.4%	2.55%	+1.3%
ROST	Buy	ROSS STORES INC	$39,146,000	+50.7%	359,631	+71.7%	2.45%	+52.0%
C	Buy	CITIGROUP INC	$38,131,000	+2.3%	543,331	+3.1%	2.38%	+3.2%
NOC	Buy	NORTHROP GRUMMAN CORP	$37,673,000	+2.0%	104,603	+3.0%	2.36%	+2.9%
A	Sell	AGILENT TECHNOLOGIES INC	$34,803,000	+4.3%	220,927	-2.1%	2.18%	+5.1%
BAC	Sell	BK OF AMERICA CORP	$31,397,000	-21.6%	739,614	-23.8%	1.96%	-20.9%
KMX	Buy	CARMAX INC	$29,532,000	-0.5%	230,790	+0.4%	1.85%	+0.3%
GWW	Buy	GRAINGER W W INC	$27,551,000	-8.3%	70,094	+2.2%	1.72%	-7.5%
ZBRA	Sell	ZEBRA TECHNOLOGIES CORPORATIcl a	$26,049,000	-21.5%	50,540	-19.4%	1.63%	-20.9%
ABC	Buy	AMERISOURCEBERGEN CORP	$4,772,000	+38.7%	39,947	+32.9%	0.30%	+39.9%
ETN	Buy	EATON CORP PLC	$4,718,000	+1.6%	31,596	+0.8%	0.30%	+2.4%
EMR	Buy	EMERSON ELEC CO	$4,692,000	+4.9%	49,808	+7.2%	0.29%	+5.8%
PGR	Buy	PROGRESSIVE CORP	$4,502,000	+19.8%	49,810	+30.1%	0.28%	+20.6%
PG	Sell	PROCTER AND GAMBLE CO	$4,323,000	+1.7%	30,920	-1.8%	0.27%	+2.7%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$4,310,000	-9.1%	38,602	-2.2%	0.27%	-8.5%
SYY	Sell	SYSCO CORP	$4,254,000	-0.1%	54,189	-1.1%	0.27%	+0.8%
AAPL	Sell	APPLE INC	$4,122,000	+0.2%	29,129	-3.0%	0.26%	+1.2%
MMM	Sell	3M CO	$4,088,000	-14.7%	23,306	-3.4%	0.26%	-13.8%
HBI	Sell	HANESBRANDS INC	$4,011,000	-10.2%	233,767	-2.3%	0.25%	-9.4%
JNJ	Sell	JOHNSON & JOHNSON	$3,999,000	-13.4%	24,765	-11.6%	0.25%	-12.6%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$3,985,000	-14.1%	21,881	-1.9%	0.25%	-13.2%
CSCO	Sell	CISCO SYS INC	$3,970,000	-1.8%	72,937	-4.4%	0.25%	-1.2%
MCD	Sell	MCDONALDS CORP	$3,838,000	+2.1%	15,916	-2.2%	0.24%	+3.0%
USB	Sell	US BANCORP DEL	$3,736,000	+2.7%	62,852	-1.6%	0.23%	+3.5%
CAT	Sell	CATERPILLAR INC	$3,685,000	-13.6%	19,197	-2.0%	0.23%	-12.9%
KMB	Sell	KIMBERLY-CLARK CORP	$3,315,000	-1.1%	25,032	-0.1%	0.21%	-0.5%
VZ	Sell	VERIZON COMMUNICATIONS INC	$3,216,000	-5.0%	59,538	-1.5%	0.20%	-4.3%
CVX	Buy	CHEVRON CORP NEW	$3,215,000	-2.2%	31,692	+1.0%	0.20%	-1.5%
MTB	Buy	M & T BK CORP	$3,151,000	+4.5%	21,099	+1.7%	0.20%	+5.3%
T	Sell	AT&T INC	$2,998,000	-9.2%	111,012	-3.3%	0.19%	-8.8%
NVS	Sell	NOVARTIS AGsponsored adr	$2,800,000	-11.5%	34,237	-1.3%	0.18%	-10.7%
NEWT	Exit	NEWTEK BUSINESS SVCS CORP	$0	–	-10,000	–	-0.02%	–
BAX	Exit	BAXTER INTL INC	$0	–	-42,259	–	-0.21%	–
EXC	Exit	EXELON CORP	$0	–	-104,010	–	-0.29%	–
BLK	Exit	BLACKROCK INC	$0	–	-59,378	–	-3.22%	–

Q2 2021

			Value		Shares		↓ Weighting
FB	New	FACEBOOK INCcl a	$91,445,000	–	262,992	–	5.67%	–
IGSB	New	ISHARES TR	$84,540,000	–	1,542,426	–	5.24%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$83,860,000	–	301,742	–	5.20%	–
GOOGL	New	ALPHABET INCcap stk cl a	$80,396,000	–	32,925	–	4.98%	–
LOW	New	LOWES COS INC	$76,202,000	–	392,856	–	4.72%	–
MSFT	New	MICROSOFT CORP	$72,308,000	–	266,919	–	4.48%	–
WFC	New	WELLS FARGO CO NEW	$68,156,000	–	1,504,889	–	4.22%	–
ULTA	New	ULTA BEAUTY INC	$67,800,000	–	196,084	–	4.20%	–
TIP	New	ISHARES TRtips bd etf	$66,386,000	–	518,597	–	4.12%	–
DIS	New	DISNEY WALT CO	$63,059,000	–	358,756	–	3.91%	–
V	New	VISA INC	$53,971,000	–	230,822	–	3.34%	–
AGG	New	ISHARES TRcore us aggbd et	$52,587,000	–	455,966	–	3.26%	–
BLK	New	BLACKROCK INC	$51,954,000	–	59,378	–	3.22%	–
BKNG	New	BOOKING HOLDINGS INC	$50,609,000	–	23,129	–	3.14%	–
FISV	New	FISERV INC	$49,842,000	–	466,291	–	3.09%	–
SCHW	New	SCHWAB CHARLES CORP	$43,683,000	–	599,962	–	2.71%	–
MA	New	MASTERCARD INCORPORATEDcl a	$42,793,000	–	117,213	–	2.65%	–
LQD	New	ISHARES TRiboxx inv cp etf	$41,812,000	–	311,191	–	2.59%	–
DG	New	DOLLAR GEN CORP NEW	$40,688,000	–	188,031	–	2.52%	–
BAC	New	BK OF AMERICA CORP	$40,030,000	–	970,902	–	2.48%	–
MDT	New	MEDTRONIC PLC	$39,969,000	–	321,989	–	2.48%	–
C	New	CITIGROUP INC	$37,276,000	–	526,873	–	2.31%	–
NOC	New	NORTHROP GRUMMAN CORP	$36,917,000	–	101,580	–	2.29%	–
A	New	AGILENT TECHNOLOGIES INC	$33,371,000	–	225,769	–	2.07%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$33,198,000	–	62,698	–	2.06%	–
GWW	New	GRAINGER W W INC	$30,029,000	–	68,559	–	1.86%	–
KMX	New	CARMAX INC	$29,682,000	–	229,823	–	1.84%	–
CRM	New	SALESFORCE COM INC	$29,004,000	–	118,738	–	1.80%	–
ROST	New	ROSS STORES INC	$25,968,000	–	209,419	–	1.61%	–
MMM	New	3M CO	$4,792,000	–	24,124	–	0.30%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$4,741,000	–	39,457	–	0.29%	–
ETN	New	EATON CORP PLC	$4,643,000	–	31,333	–	0.29%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$4,638,000	–	22,301	–	0.29%	–
EXC	New	EXELON CORP	$4,609,000	–	104,010	–	0.29%	–
JNJ	New	JOHNSON & JOHNSON	$4,617,000	–	28,028	–	0.29%	–
HBI	New	HANESBRANDS INC	$4,468,000	–	239,292	–	0.28%	–
EMR	New	EMERSON ELEC CO	$4,471,000	–	46,460	–	0.28%	–
CAT	New	CATERPILLAR INC	$4,263,000	–	19,587	–	0.26%	–
SYY	New	SYSCO CORP	$4,258,000	–	54,770	–	0.26%	–
PG	New	PROCTER AND GAMBLE CO	$4,249,000	–	31,487	–	0.26%	–
AAPL	New	APPLE INC	$4,114,000	–	30,041	–	0.26%	–
CSCO	New	CISCO SYS INC	$4,042,000	–	76,256	–	0.25%	–
MCD	New	MCDONALDS CORP	$3,759,000	–	16,274	–	0.23%	–
PGR	New	PROGRESSIVE CORP	$3,759,000	–	38,280	–	0.23%	–
USB	New	US BANCORP DEL	$3,638,000	–	63,857	–	0.23%	–
ABC	New	AMERISOURCEBERGEN CORP	$3,441,000	–	30,051	–	0.21%	–
BAX	New	BAXTER INTL INC	$3,402,000	–	42,259	–	0.21%	–
VZ	New	VERIZON COMMUNICATIONS INC	$3,386,000	–	60,439	–	0.21%	–
KMB	New	KIMBERLY-CLARK CORP	$3,352,000	–	25,059	–	0.21%	–
T	New	AT&T INC	$3,303,000	–	114,781	–	0.20%	–
CVX	New	CHEVRON CORP NEW	$3,287,000	–	31,383	–	0.20%	–
NVS	New	NOVARTIS AGsponsored adr	$3,164,000	–	34,680	–	0.20%	–
MTB	New	M & T BK CORP	$3,014,000	–	20,744	–	0.19%	–
NEWT	New	NEWTEK BUSINESS SVCS CORP	$349,000	–	10,000	–	0.02%	–

Q4 2020

			Value		Shares		↓ Weighting
DE	Exit	DEERE & CO	$0	–	-1,010	–	-0.02%	–
FDX	Exit	FEDEX CORP	$0	–	-1,025	–	-0.02%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-3,500	–	-0.02%	–
AMGN	Exit	AMGEN INC	$0	–	-1,060	–	-0.02%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-1,421	–	-0.02%	–
SNA	Exit	SNAP ON INC	$0	–	-1,985	–	-0.02%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-1,076	–	-0.02%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-1,530	–	-0.02%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-1,599	–	-0.03%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,781	–	-0.03%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-695	–	-0.03%	–
SO	Exit	SOUTHERN CO	$0	–	-7,450	–	-0.03%	–
KO	Exit	COCA COLA CO	$0	–	-8,341	–	-0.03%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,207	–	-0.03%	–
DEO	Exit	DIAGEO PLCspon adr new	$0	–	-3,740	–	-0.04%	–
CB	Exit	CHUBB LIMITED	$0	–	-4,600	–	-0.04%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-1,624	–	-0.04%	–
QCOM	Exit	QUALCOMM INC	$0	–	-4,614	–	-0.04%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,025	–	-0.04%	–
PEP	Exit	PEPSICO INC	$0	–	-4,186	–	-0.05%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-1,500	–	-0.09%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,601	–	-0.09%	–
AMZN	Exit	AMAZON COM INC	$0	–	-350	–	-0.09%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-971	–	-0.12%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-45,994	–	-0.13%	–
MTB	Exit	M & T BK CORP	$0	–	-17,347	–	-0.13%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-25,869	–	-0.15%	–
USB	Exit	US BANCORP DEL	$0	–	-55,515	–	-0.16%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-61,842	–	-0.19%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-19,946	–	-0.20%	–
CSCO	Exit	CISCO SYS INC	$0	–	-62,893	–	-0.20%	–
T	Exit	AT&T INC	$0	–	-88,580	–	-0.20%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-26,624	–	-0.21%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-29,747	–	-0.21%	–
INTC	Exit	INTEL CORP	$0	–	-52,059	–	-0.22%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-42,184	–	-0.22%	–
BAX	Exit	BAXTER INTL INC	$0	–	-35,526	–	-0.23%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-19,467	–	-0.23%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-50,542	–	-0.24%	–
EXC	Exit	EXELON CORP	$0	–	-85,769	–	-0.25%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-20,976	–	-0.25%	–
SYY	Exit	SYSCO CORP	$0	–	-49,731	–	-0.25%	–
ETN	Exit	EATON CORP PLC	$0	–	-30,998	–	-0.26%	–
MCD	Exit	MCDONALDS CORP	$0	–	-14,550	–	-0.26%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-23,623	–	-0.28%	–
MMM	Exit	3M CO	$0	–	-22,050	–	-0.28%	–
HBI	Exit	HANESBRANDS INC	$0	–	-227,430	–	-0.29%	–
BACPRL	Exit	BK OF AMERICA CORP7.25%cnv pfd l	$0	–	-2,478	–	-0.30%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-22,562	–	-0.30%	–
WFCPRL	Exit	WELLS FARGO CO NEWperp pfd cnv a	$0	–	-2,855	–	-0.31%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-47,475	–	-0.31%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-28,470	–	-0.32%	–
AAPL	Exit	APPLE INC	$0	–	-38,672	–	-0.36%	–
ROST	Exit	ROSS STORES INC	$0	–	-202,231	–	-1.52%	–
C	Exit	CITIGROUP INC	$0	–	-449,366	–	-1.56%	–
FOXA	Exit	FOX CORP	$0	–	-697,089	–	-1.56%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATIcl a	$0	–	-84,905	–	-1.72%	–
A	Exit	AGILENT TECHNOLOGIES INC	$0	–	-226,571	–	-1.84%	–
KMX	Exit	CARMAX INC	$0	–	-262,617	–	-1.94%	–
GWW	Exit	GRAINGER W W INC	$0	–	-70,006	–	-2.01%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-1,204,355	–	-2.34%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-824,782	–	-2.40%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-302,948	–	-2.53%	–
FISV	Exit	FISERV INC	$0	–	-320,470	–	-2.66%	–
BLK	Exit	BLACKROCK INC	$0	–	-60,093	–	-2.73%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-268,935	–	-2.92%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-111,368	–	-3.03%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-552,244	–	-3.09%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-22,662	–	-3.12%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-1,679,333	–	-3.18%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-237,748	–	-3.29%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-381,658	–	-3.63%	–
V	Exit	VISA INC	$0	–	-233,160	–	-3.75%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-213,841	–	-3.86%	–
LOW	Exit	LOWES COS INC	$0	–	-292,531	–	-3.91%	–
DIS	Exit	DISNEY WALT CO	$0	–	-399,665	–	-3.99%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-254,703	–	-4.31%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-37,253	–	-4.40%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-262,189	–	-4.49%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-458,632	–	-4.67%	–
IGSB	Exit	ISHARES TR	$0	–	-1,292,538	–	-5.71%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-280,833	–	-5.92%	–

Q3 2020

			Value		Shares		↓ Weighting
FB	Sell	FACEBOOK INCcl a	$73,550,000	+8.9%	280,833	-5.6%	5.92%	+5.9%
IGSB	Buy	ISHARES TR	$70,973,000	+3.6%	1,292,538	+3.2%	5.71%	+0.7%
TIP	Buy	ISHARES TRtips bd etf	$58,017,000	+5.0%	458,632	+2.0%	4.67%	+2.1%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$55,831,000	+18.2%	262,189	-0.9%	4.49%	+14.9%
GOOGL	Sell	ALPHABET INCcap stk cl a	$54,598,000	+1.3%	37,253	-2.0%	4.40%	-1.5%
MSFT	Sell	MICROSOFT CORP	$53,572,000	-8.4%	254,703	-11.3%	4.31%	-10.9%
DIS	Sell	DISNEY WALT CO	$49,590,000	+10.3%	399,665	-0.9%	3.99%	+7.3%
LOW	Sell	LOWES COS INC	$48,519,000	-12.4%	292,531	-28.6%	3.91%	-14.8%
ULTA	Buy	ULTA BEAUTY INC	$47,896,000	+43.4%	213,841	+30.2%	3.86%	+39.4%
V	Sell	VISA INC	$46,625,000	-1.4%	233,160	-4.8%	3.75%	-4.2%
AGG	Buy	ISHARES TRcore us aggbd et	$45,059,000	+3.1%	381,658	+3.2%	3.63%	+0.2%
VAR	Sell	VARIAN MED SYS INC	$40,893,000	+37.7%	237,748	-1.9%	3.29%	+33.9%
WFC	Buy	WELLS FARGO CO NEW	$39,481,000	+45.9%	1,679,333	+58.9%	3.18%	+41.9%
BKNG	Sell	BOOKING HOLDINGS INC	$38,767,000	-17.7%	22,662	-23.4%	3.12%	-20.0%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$38,337,000	+19.0%	552,244	-2.6%	3.09%	+15.7%
MA	Sell	MASTERCARD INCORPORATEDcl a	$37,661,000	+13.5%	111,368	-0.8%	3.03%	+10.3%
LQD	Buy	ISHARES TRiboxx inv cp etf	$36,228,000	+2.3%	268,935	+2.1%	2.92%	-0.5%
BLK	Sell	BLACKROCK INC	$33,866,000	-8.6%	60,093	-11.7%	2.73%	-11.1%
FISV	Buy	FISERV INC	$33,024,000	+6.1%	320,470	+0.5%	2.66%	+3.2%
MDT	Buy	MEDTRONIC PLC	$31,482,000	+23.3%	302,948	+8.8%	2.53%	+19.9%
SCHW	Buy	SCHWAB CHARLES CORP	$29,882,000	+8.0%	824,782	+0.6%	2.40%	+5.0%
BAC	Sell	BK OF AMERICA CORP	$29,013,000	+1.0%	1,204,355	-0.5%	2.34%	-1.8%
GWW	Sell	GRAINGER W W INC	$24,976,000	+11.5%	70,006	-1.8%	2.01%	+8.4%
KMX	Sell	CARMAX INC	$24,137,000	+0.5%	262,617	-2.1%	1.94%	-2.3%
A	Sell	AGILENT TECHNOLOGIES INC	$22,870,000	+13.9%	226,571	-0.3%	1.84%	+10.8%
ZBRA	Sell	ZEBRA TECHNOLOGIES CORPORATIcl a	$21,435,000	-1.9%	84,905	-0.5%	1.72%	-4.6%
FOXA	Sell	FOX CORP	$19,400,000	+2.9%	697,089	-0.8%	1.56%	+0.1%
C	Buy	CITIGROUP INC	$19,372,000	-14.0%	449,366	+1.9%	1.56%	-16.4%
ROST	Buy	ROSS STORES INC	$18,872,000	+10.9%	202,231	+1.3%	1.52%	+7.8%
AAPL	Sell	APPLE INC	$4,479,000	-89.8%	38,672	-67.9%	0.36%	-90.1%
PG	Sell	PROCTER AND GAMBLE CO	$3,957,000	+12.1%	28,470	-3.5%	0.32%	+9.2%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$3,849,000	+38.9%	47,475	-2.8%	0.31%	+35.4%
WFCPRL	Buy	WELLS FARGO CO NEWperp pfd cnv a	$3,832,000	+6.0%	2,855	+2.4%	0.31%	+3.0%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$3,759,000	+45.9%	22,562	-2.6%	0.30%	+42.3%
BACPRL	Buy	BK OF AMERICA CORP7.25%cnv pfd l	$3,687,000	+14.5%	2,478	+3.3%	0.30%	+11.7%
HBI	Sell	HANESBRANDS INC	$3,582,000	+39.3%	227,430	-0.2%	0.29%	+35.2%
MMM	Buy	3M CO	$3,532,000	+6.2%	22,050	+3.4%	0.28%	+3.3%
JNJ	Sell	JOHNSON & JOHNSON	$3,517,000	+5.6%	23,623	-0.2%	0.28%	+2.5%
MCD	Sell	MCDONALDS CORP	$3,194,000	+17.8%	14,550	-1.0%	0.26%	+14.2%
ETN	Sell	EATON CORP PLC	$3,163,000	+15.4%	30,998	-1.1%	0.26%	+12.3%
SYY	Buy	SYSCO CORP	$3,094,000	+15.1%	49,731	+1.1%	0.25%	+11.7%
KMB	Sell	KIMBERLY CLARK CORP	$3,097,000	+4.0%	20,976	-0.5%	0.25%	+0.8%
EXC	Buy	EXELON CORP	$3,067,000	+0.2%	85,769	+1.6%	0.25%	-2.4%
VZ	Buy	VERIZON COMMUNICATIONS INC	$3,007,000	+8.1%	50,542	+0.2%	0.24%	+5.2%
CAT	Buy	CATERPILLAR INC DEL	$2,904,000	+19.5%	19,467	+1.3%	0.23%	+16.4%
BAX	Sell	BAXTER INTL INC	$2,857,000	-7.1%	35,526	-0.5%	0.23%	-9.8%
EMR	Buy	EMERSON ELEC CO	$2,766,000	+7.0%	42,184	+1.2%	0.22%	+4.2%
INTC	Sell	INTEL CORP	$2,696,000	-14.2%	52,059	-0.9%	0.22%	-16.5%
ABC	Sell	AMERISOURCEBERGEN CORP	$2,580,000	-4.2%	26,624	-0.4%	0.21%	-6.7%
NVS	Buy	NOVARTIS AGsponsored adr	$2,587,000	+0.8%	29,747	+1.2%	0.21%	-2.3%
T	Buy	AT&T INC	$2,525,000	-3.2%	88,580	+2.6%	0.20%	-6.0%
CSCO	Buy	CISCO SYS INC	$2,477,000	-14.7%	62,893	+1.0%	0.20%	-17.1%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$2,427,000	+2.4%	19,946	+1.6%	0.20%	-0.5%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$2,328,000	-6.7%	61,842	+1.1%	0.19%	-9.7%
USB	Buy	US BANCORP DEL	$1,990,000	+2.8%	55,515	+5.6%	0.16%	0.0%
CVX	Buy	CHEVRON CORP NEW	$1,863,000	-14.9%	25,869	+5.4%	0.15%	-17.1%
MTB	Buy	M & T BK CORP	$1,597,000	-4.7%	17,347	+7.7%	0.13%	-7.2%
XOM	Buy	EXXON MOBIL CORP	$1,579,000	-15.9%	45,994	+9.5%	0.13%	-18.1%
GOOG	Sell	ALPHABET INCcap stk cl c	$1,427,000	+1.6%	971	-2.2%	0.12%	-0.9%
AMZN	Buy	AMAZON COM INC	$1,102,000	+24.8%	350	+9.4%	0.09%	+21.9%
UNP	Buy	UNION PAC CORP	$1,103,000	+16.5%	5,601	+0.0%	0.09%	+14.1%
ISRG	Buy	INTUITIVE SURGICAL INC	$1,064,000	+86.7%	1,500	+50.0%	0.09%	+83.0%
IVV	Buy	ISHARES TRcore s&p500 etf	$546,000	+51.7%	1,624	+39.9%	0.04%	+46.7%
QCOM	Buy	QUALCOMM INC	$543,000	+29.6%	4,614	+0.5%	0.04%	+25.7%
KO	Buy	COCA COLA CO	$412,000	+13.2%	8,341	+2.5%	0.03%	+10.0%
JPM	Buy	JPMORGAN CHASE & CO	$405,000	+16.0%	4,207	+13.5%	0.03%	+13.8%
ABBV	Sell	ABBVIE INC	$331,000	-17.2%	3,781	-7.1%	0.03%	-18.2%
ITW	Buy	ILLINOIS TOOL WKS INC	$296,000	+41.0%	1,530	+27.5%	0.02%	+41.2%
SNA	Buy	SNAP ON INC	$292,000	+31.5%	1,985	+24.1%	0.02%	+33.3%
AMGN	Buy	AMGEN INC	$269,000	+34.5%	1,060	+24.7%	0.02%	+29.4%
NTRS	New	NORTHERN TR CORP	$273,000	–	3,500	–	0.02%	–
LH	Sell	LABORATORY CORP AMER HLDGS	$268,000	-3.2%	1,421	-14.7%	0.02%	-4.3%
FDX	New	FEDEX CORP	$258,000	–	1,025	–	0.02%	–
DE	New	DEERE & CO	$224,000	–	1,010	–	0.02%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-16,075	–	-0.01%	–
EOG	Exit	EOG RES INC	$0	–	-4,000	–	-0.02%	–

Q2 2020

			Value		Shares		↓ Weighting
IGSB	New	ISHARES TRsh tr crport etf	$68,499,000	–	1,252,037	–	5.67%	–
FB	New	FACEBOOK INCcl a	$67,551,000	–	297,489	–	5.59%	–
MSFT	New	MICROSOFT CORP	$58,460,000	–	287,258	–	4.84%	–
LOW	New	LOWES COS INC	$55,363,000	–	409,732	–	4.58%	–
TIP	New	ISHARES TRtips bd etf	$55,280,000	–	449,430	–	4.58%	–
GOOGL	New	ALPHABET INCcap stk cl a	$53,913,000	–	38,019	–	4.46%	–
V	New	VISA INC	$47,297,000	–	244,847	–	3.92%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$47,236,000	–	264,610	–	3.91%	–
BKNG	New	BOOKING HOLDINGS INC	$47,098,000	–	29,578	–	3.90%	–
DIS	New	DISNEY WALT CO	$44,964,000	–	403,232	–	3.72%	–
AAPL	New	APPLE INC	$43,891,000	–	120,315	–	3.63%	–
AGG	New	ISHARES TRcore us aggbd et	$43,703,000	–	369,710	–	3.62%	–
BLK	New	BLACKROCK INC	$37,045,000	–	68,087	–	3.07%	–
LQD	New	ISHARES TRiboxx inv cp etf	$35,415,000	–	263,308	–	2.93%	–
ULTA	New	ULTA BEAUTY INC	$33,402,000	–	164,202	–	2.76%	–
MA	New	MASTERCARD INCORPORATEDcl a	$33,195,000	–	112,258	–	2.75%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$32,211,000	–	566,904	–	2.67%	–
FISV	New	FISERV INC	$31,118,000	–	318,763	–	2.58%	–
VAR	New	VARIAN MED SYS INC	$29,693,000	–	242,356	–	2.46%	–
BAC	New	BK OF AMERICA CORP	$28,735,000	–	1,209,908	–	2.38%	–
SCHW	New	SCHWAB CHARLES CORP	$27,675,000	–	820,243	–	2.29%	–
WFC	New	WELLS FARGO CO NEW	$27,060,000	–	1,057,014	–	2.24%	–
MDT	New	MEDTRONIC PLC	$25,530,000	–	278,407	–	2.11%	–
KMX	New	CARMAX INC	$24,015,000	–	268,175	–	1.99%	–
C	New	CITIGROUP INC	$22,533,000	–	440,965	–	1.86%	–
GWW	New	GRAINGER W W INC	$22,405,000	–	71,316	–	1.86%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$21,849,000	–	85,363	–	1.81%	–
A	New	AGILENT TECHNOLOGIES INC	$20,080,000	–	227,228	–	1.66%	–
FOXA	New	FOX CORP	$18,856,000	–	703,039	–	1.56%	–
ROST	New	ROSS STORES INC	$17,021,000	–	199,686	–	1.41%	–
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$3,615,000	–	2,787	–	0.30%	–
PG	New	PROCTER AND GAMBLE CO	$3,529,000	–	29,514	–	0.29%	–
JNJ	New	JOHNSON & JOHNSON	$3,330,000	–	23,677	–	0.28%	–
MMM	New	3M CO	$3,326,000	–	21,325	–	0.28%	–
BACPRL	New	BK OF AMERICA CORP7.25%cnv pfd l	$3,219,000	–	2,398	–	0.27%	–
INTC	New	INTEL CORP	$3,141,000	–	52,506	–	0.26%	–
BAX	New	BAXTER INTL INC	$3,075,000	–	35,710	–	0.26%	–
EXC	New	EXELON CORP	$3,062,000	–	84,389	–	0.25%	–
KMB	New	KIMBERLY CLARK CORP	$2,979,000	–	21,075	–	0.25%	–
CSCO	New	CISCO SYS INC	$2,904,000	–	62,260	–	0.24%	–
VZ	New	VERIZON COMMUNICATIONS INC	$2,782,000	–	50,459	–	0.23%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$2,772,000	–	48,825	–	0.23%	–
ETN	New	EATON CORP PLC	$2,742,000	–	31,341	–	0.23%	–
MCD	New	MCDONALDS CORP	$2,712,000	–	14,703	–	0.22%	–
SYY	New	SYSCO CORP	$2,689,000	–	49,204	–	0.22%	–
ABC	New	AMERISOURCEBERGEN CORP	$2,693,000	–	26,728	–	0.22%	–
T	New	AT&T INC	$2,609,000	–	86,321	–	0.22%	–
EMR	New	EMERSON ELEC CO	$2,585,000	–	41,672	–	0.21%	–
NVS	New	NOVARTIS AGsponsored adr	$2,567,000	–	29,392	–	0.21%	–
HBI	New	HANESBRANDS INC	$2,572,000	–	227,825	–	0.21%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$2,576,000	–	23,166	–	0.21%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$2,496,000	–	61,192	–	0.21%	–
CAT	New	CATERPILLAR INC DEL	$2,430,000	–	19,212	–	0.20%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$2,370,000	–	19,624	–	0.20%	–
CVX	New	CHEVRON CORP NEW	$2,190,000	–	24,542	–	0.18%	–
USB	New	US BANCORP DEL	$1,936,000	–	52,582	–	0.16%	–
XOM	New	EXXON MOBIL CORP	$1,878,000	–	41,995	–	0.16%	–
MTB	New	M & T BK CORP	$1,675,000	–	16,106	–	0.14%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,404,000	–	993	–	0.12%	–
UNP	New	UNION PAC CORP	$947,000	–	5,599	–	0.08%	–
AMZN	New	AMAZON COM INC	$883,000	–	320	–	0.07%	–
CB	New	CHUBB LIMITED	$582,000	–	4,600	–	0.05%	–
ISRG	New	INTUITIVE SURGICAL INC	$570,000	–	1,000	–	0.05%	–
PEP	New	PEPSICO INC	$554,000	–	4,186	–	0.05%	–
DEO	New	DIAGEO P L Cspon adr new	$503,000	–	3,740	–	0.04%	–
HD	New	HOME DEPOT INC	$507,000	–	2,025	–	0.04%	–
QCOM	New	QUALCOMM INC	$419,000	–	4,591	–	0.04%	–
ABBV	New	ABBVIE INC	$400,000	–	4,071	–	0.03%	–
SO	New	SOUTHERN CO	$386,000	–	7,450	–	0.03%	–
ESS	New	ESSEX PPTY TR INC	$366,000	–	1,599	–	0.03%	–
KO	New	COCA COLA CO	$364,000	–	8,141	–	0.03%	–
IVV	New	ISHARES TRcore s&p500 etf	$360,000	–	1,161	–	0.03%	–
JPM	New	JPMORGAN CHASE & CO	$349,000	–	3,707	–	0.03%	–
ADBE	New	ADOBE INC	$303,000	–	695	–	0.02%	–
LH	New	LABORATORY CORP AMER HLDGS	$277,000	–	1,666	–	0.02%	–
NEE	New	NEXTERA ENERGY INC	$258,000	–	1,076	–	0.02%	–
SNA	New	SNAP ON INC	$222,000	–	1,600	–	0.02%	–
EOG	New	EOG RES INC	$203,000	–	4,000	–	0.02%	–
AMGN	New	AMGEN INC	$200,000	–	850	–	0.02%	–
ITW	New	ILLINOIS TOOL WKS INC	$210,000	–	1,200	–	0.02%	–
GE	New	GENERAL ELECTRIC CO	$110,000	–	16,075	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
GM	Exit	GENERAL MTRS CO	$0	–	-5,495	–	-0.02%	–
BWX	Exit	SPDR SERIES TRUSTblomberg intl tr	$0	–	-7,090	–	-0.02%	–
FNDF	Exit	SCHWAB STRATEGIC TRschwb fdt int lg	$0	–	-7,946	–	-0.02%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-1,000	–	-0.02%	–
VOE	Exit	VANGUARD INDEX FDSmcap vl idxvip	$0	–	-2,043	–	-0.02%	–
ADBE	Exit	ADOBE INC	$0	–	-895	–	-0.02%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-8,310	–	-0.02%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-3,000	–	-0.02%	–
EQR	Exit	EQUITY RESIDENTIALsh ben int	$0	–	-3,000	–	-0.02%	–
SCHG	Exit	SCHWAB STRATEGIC TRus lcap gr etf	$0	–	-3,087	–	-0.02%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,125	–	-0.02%	–
VTR	Exit	VENTAS INC	$0	–	-3,618	–	-0.02%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-990	–	-0.02%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,063	–	-0.03%	–
EOG	Exit	EOG RES INC	$0	–	-6,000	–	-0.04%	–
KO	Exit	COCA COLA CO	$0	–	-8,341	–	-0.04%	–
SO	Exit	SOUTHERN CO	$0	–	-7,550	–	-0.04%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-1,599	–	-0.04%	–
PEP	Exit	PEPSICO INC	$0	–	-4,236	–	-0.05%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-4,705	–	-0.05%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-3,965	–	-0.05%	–
CB	Exit	CHUBB LIMITED	$0	–	-4,380	–	-0.06%	–
AMZN	Exit	AMAZON COM INC	$0	–	-450	–	-0.06%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-661	–	-0.06%	–
UNP	Exit	UNION PACIFIC CORP	$0	–	-5,590	–	-0.07%	–
DOW	Exit	DOW INC	$0	–	-36,648	–	-0.14%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-21,991	–	-0.14%	–
MCK	Exit	MCKESSON CORP	$0	–	-13,712	–	-0.15%	–
MTB	Exit	M & T BK CORP	$0	–	-12,058	–	-0.15%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-15,194	–	-0.15%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-29,594	–	-0.16%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-23,998	–	-0.16%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-49,548	–	-0.17%	–
USB	Exit	US BANCORP DEL	$0	–	-38,690	–	-0.17%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-18,248	–	-0.17%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-15,583	–	-0.18%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-34,197	–	-0.18%	–
INTC	Exit	INTEL CORP	$0	–	-46,154	–	-0.19%	–
PAYX	Exit	PAYCHEX INC	$0	–	-29,266	–	-0.19%	–
CSCO	Exit	CISCO SYS INC	$0	–	-49,600	–	-0.19%	–
HBI	Exit	HANESBRANDS INC	$0	–	-159,810	–	-0.19%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-41,446	–	-0.20%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-19,314	–	-0.20%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-17,612	–	-0.20%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-21,487	–	-0.20%	–
MCD	Exit	MCDONALDS CORP	$0	–	-12,367	–	-0.21%	–
BAX	Exit	BAXTER INTL INC	$0	–	-30,799	–	-0.21%	–
T	Exit	AT&T INC	$0	–	-71,157	–	-0.21%	–
EXC	Exit	EXELON CORP	$0	–	-66,432	–	-0.25%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-25,910	–	-0.25%	–
SYY	Exit	SYSCO CORP	$0	–	-41,224	–	-0.26%	–
WFCPRL	Exit	WELLS FARGO CO NEWperp pfd cnv a	$0	–	-2,246	–	-0.27%	–
BAC	Exit	BANK AMER CORP	$0	–	-673,847	–	-1.55%	–
OI	Exit	OWENS ILL INC	$0	–	-2,085,538	–	-1.69%	–
BLK	Exit	BLACKROCK INC	$0	–	-49,142	–	-1.73%	–
GWW	Exit	GRAINGER W W INC	$0	–	-73,824	–	-1.73%	–
LOW	Exit	LOWES COS INC	$0	–	-202,945	–	-1.76%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-2,533,755	–	-1.79%	–
DE	Exit	DEERE & CO	$0	–	-137,409	–	-1.83%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-86,898	–	-1.86%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-100,635	–	-1.99%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-632,842	–	-2.26%	–
C	Exit	CITIGROUP INC	$0	–	-426,399	–	-2.32%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-281,659	–	-2.42%	–
FOXA	Exit	FOX CORP	$0	–	-979,732	–	-2.44%	–
FISV	Exit	FISERV INC	$0	–	-316,036	–	-2.58%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-260,379	–	-2.62%	–
EXPE	Exit	EXPEDIA GROUP INC	$0	–	-258,439	–	-2.74%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-633,681	–	-3.01%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-817,843	–	-3.02%	–
DIS	Exit	DISNEY WALT CO	$0	–	-302,419	–	-3.11%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-797,855	–	-3.18%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-20,983	–	-3.25%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-234,597	–	-3.30%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-372,122	–	-3.32%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-268,107	–	-3.56%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-39,164	–	-3.78%	–
AAPL	Exit	APPLE INC	$0	–	-217,085	–	-3.84%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-350,127	–	-3.84%	–
V	Exit	VISA INC	$0	–	-284,531	–	-3.86%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-453,864	–	-4.17%	–
AGN	Exit	ALLERGAN PLC	$0	–	-334,786	–	-4.45%	–
IGSB	Exit	ISHARES TRsh tr crport etf	$0	–	-1,231,687	–	-5.22%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-353,284	–	-5.80%	–

Q3 2019

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$73,490,000	-2.9%	353,284	-0.5%	5.80%	-6.8%
IGSB	Buy	ISHARES TRsh tr crport etf	$66,105,000	+1.3%	1,231,687	+0.8%	5.22%	-2.8%
AGN	Sell	ALLERGAN PLC	$56,341,000	-2.0%	334,786	-2.5%	4.45%	-5.9%
TIP	Buy	ISHARES TRtips bd etf	$52,780,000	+1.4%	453,864	+0.7%	4.17%	-2.7%
V	Sell	VISA INC	$48,942,000	-4.5%	284,531	-3.6%	3.86%	-8.3%
MSFT	Sell	MICROSOFT CORP	$48,678,000	-4.4%	350,127	-7.9%	3.84%	-8.2%
AAPL	Sell	APPLE INC	$48,621,000	+5.4%	217,085	-6.9%	3.84%	+1.2%
GOOGL	Sell	ALPHABET INCcap stk cl a	$47,825,000	+12.0%	39,164	-0.6%	3.78%	+7.5%
LH	Sell	LABORATORY CORP AMER HLDGS	$45,042,000	-3.1%	268,107	-0.3%	3.56%	-7.0%
AGG	Buy	ISHARES TRcore us aggbd et	$42,113,000	+2.1%	372,122	+0.4%	3.32%	-2.0%
FB	Buy	FACEBOOK INCcl a	$41,777,000	-7.0%	234,597	+0.8%	3.30%	-10.7%
BKNG	Buy	BOOKING HLDGS INC	$41,181,000	+6.0%	20,983	+1.2%	3.25%	+1.8%
WFC	Buy	WELLS FARGO CO NEW	$40,244,000	+26.0%	797,855	+18.2%	3.18%	+21.0%
DIS	Sell	DISNEY WALT CO	$39,411,000	-8.1%	302,419	-1.5%	3.11%	-11.8%
FLS	Buy	FLOWSERVE CORP	$38,201,000	-11.2%	817,843	+0.2%	3.02%	-14.7%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$38,189,000	-5.3%	633,681	-0.4%	3.01%	-9.1%
EXPE	Sell	EXPEDIA GROUP INC	$34,737,000	-0.8%	258,439	-1.8%	2.74%	-4.7%
LQD	Sell	ISHARES TRiboxx inv cp etf	$33,193,000	+2.4%	260,379	-0.1%	2.62%	-1.7%
FISV	Sell	FISERV INC	$32,738,000	+3.4%	316,036	-9.0%	2.58%	-0.8%
FOXA	Buy	FOX CORP	$30,896,000	+1.0%	979,732	+17.3%	2.44%	-3.1%
MDT	Sell	MEDTRONIC PLC	$30,594,000	-9.5%	281,659	-18.8%	2.42%	-13.1%
C	Sell	CITIGROUP INC	$29,456,000	-1.7%	426,399	-0.3%	2.32%	-5.6%
BK	Buy	BANK NEW YORK MELLON CORP	$28,611,000	+2.5%	632,842	+0.1%	2.26%	-1.6%
ULTA	New	ULTA BEAUTY INC	$25,224,000	–	100,635	–	1.99%	–
MA	Sell	MASTERCARD INCcl a	$23,599,000	+2.0%	86,898	-0.6%	1.86%	-2.1%
DE	Buy	DEERE & CO	$23,178,000	+2.4%	137,409	+0.6%	1.83%	-1.7%
GE	Sell	GENERAL ELECTRIC CO	$22,652,000	-15.8%	2,533,755	-1.2%	1.79%	-19.2%
LOW	Buy	LOWES COS INC	$22,316,000	+8755.6%	202,945	+8017.8%	1.76%	+8285.7%
GWW	Buy	GRAINGER W W INC	$21,937,000	+10.8%	73,824	+0.0%	1.73%	+6.4%
BLK	Buy	BLACKROCK INC	$21,900,000	+782.0%	49,142	+828.8%	1.73%	+747.5%
OI	Sell	OWENS ILL INC	$21,418,000	-42.8%	2,085,538	-3.8%	1.69%	-45.1%
BAC	Buy	BANK AMER CORP	$19,656,000	+0.8%	673,847	+0.2%	1.55%	-3.2%
WFCPRL	Buy	WELLS FARGO CO NEWperp pfd cnv a	$3,420,000	+17.7%	2,246	+5.4%	0.27%	+13.0%
SYY	Buy	SYSCO CORP	$3,273,000	+14.5%	41,224	+2.0%	0.26%	+9.8%
PG	Buy	PROCTER & GAMBLE CO	$3,223,000	+15.9%	25,910	+2.1%	0.25%	+10.9%
EXC	Buy	EXELON CORP	$3,209,000	+6.5%	66,432	+5.7%	0.25%	+2.0%
BAX	Buy	BAXTER INTL INC	$2,694,000	+9.9%	30,799	+2.9%	0.21%	+5.4%
T	Buy	AT&T INC	$2,693,000	+17.1%	71,157	+3.7%	0.21%	+12.7%
MCD	Buy	MCDONALDS CORP	$2,655,000	+8.0%	12,367	+4.4%	0.21%	+4.0%
CVX	Buy	CHEVRON CORP NEW	$2,548,000	+1.1%	21,487	+6.1%	0.20%	-2.9%
JNJ	Buy	JOHNSON & JOHNSON	$2,499,000	-2.7%	19,314	+4.7%	0.20%	-6.6%
VZ	Buy	VERIZON COMMUNICATIONS INC	$2,502,000	+11.2%	41,446	+5.3%	0.20%	+6.5%
KMB	Buy	KIMBERLY CLARK CORP	$2,502,000	+11.0%	17,612	+4.1%	0.20%	+6.5%
CSCO	Buy	CISCO SYS INC	$2,451,000	-5.7%	49,600	+4.5%	0.19%	-9.8%
HBI	New	HANESBRANDS INC	$2,448,000	–	159,810	–	0.19%	–
PAYX	Buy	PAYCHEX INC	$2,422,000	+4.9%	29,266	+4.3%	0.19%	+0.5%
INTC	Buy	INTEL CORP	$2,378,000	+14.1%	46,154	+6.0%	0.19%	+9.9%
EMR	Buy	EMERSON ELEC CO	$2,286,000	+6.8%	34,197	+6.6%	0.18%	+2.3%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$2,266,000	+11.7%	15,583	+5.9%	0.18%	+7.2%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$2,186,000	+23.2%	18,248	+6.2%	0.17%	+18.5%
USB	Buy	US BANCORP DEL	$2,141,000	+12.0%	38,690	+6.0%	0.17%	+7.6%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$2,115,000	+13.4%	49,548	+6.3%	0.17%	+9.2%
XOM	Buy	EXXON MOBIL CORP	$2,090,000	-1.7%	29,594	+6.6%	0.16%	-5.7%
NVS	Buy	NOVARTIS A Gsponsored adr	$2,085,000	-2.4%	23,998	+2.5%	0.16%	-6.2%
CAT	Buy	CATERPILLAR INC DEL	$1,919,000	-0.8%	15,194	+7.1%	0.15%	-5.0%
MTB	Buy	M & T BK CORP	$1,905,000	-0.9%	12,058	+6.7%	0.15%	-5.1%
MCK	Buy	MCKESSON CORP	$1,874,000	+6.7%	13,712	+4.9%	0.15%	+2.8%
ABC	Buy	AMERISOURCEBERGEN CORP	$1,811,000	+2.0%	21,991	+5.5%	0.14%	-2.1%
DOW	Buy	DOW INC	$1,746,000	+5.4%	36,648	+9.1%	0.14%	+1.5%
UNP	Buy	UNION PACIFIC CORP	$906,000	-4.1%	5,590	+0.0%	0.07%	-7.7%
GOOG	Sell	ALPHABET INCcap stk cl c	$806,000	+12.3%	661	-0.5%	0.06%	+8.5%
AMZN	Buy	AMAZON COM INC	$781,000	+11.4%	450	+21.6%	0.06%	+6.9%
UTX	Sell	UNITED TECHNOLOGIES CORP	$642,000	-6.1%	4,705	-10.4%	0.05%	-8.9%
SO	Buy	SOUTHERN CO	$466,000	+12.0%	7,550	+0.4%	0.04%	+8.8%
KO	Buy	COCA COLA CO	$454,000	+9.4%	8,341	+2.5%	0.04%	+5.9%
QCOM	Sell	QUALCOMM INC	$386,000	-14.4%	5,063	-14.7%	0.03%	-18.9%
HD	Buy	HOME DEPOT INC	$261,000	+22.5%	1,125	+9.8%	0.02%	+16.7%
SCHG	Buy	SCHWAB STRATEGIC TRus lcap gr etf	$259,000	+3.6%	3,087	+2.9%	0.02%	-4.8%
ADBE	Buy	ADOBE INC	$247,000	+20.5%	895	+28.8%	0.02%	+11.8%
VOE	Buy	VANGUARD INDEX FDSmcap vl idxvip	$231,000	+1.8%	2,043	+0.3%	0.02%	-5.3%
FNDF	Sell	SCHWAB STRATEGIC TRschwb fdt int lg	$219,000	-12.7%	7,946	-12.0%	0.02%	-19.0%
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-1,818	–	-0.02%	–
BA	Exit	BOEING CO	$0	–	-619	–	-0.02%	–
ED	Exit	CONSOLIDATED EDISON INC	$0	–	-27,931	–	-0.20%	–

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$75,691,000	–	355,071	–	6.22%	–
IGSB	New	ISHARES TRsh tr crport etf	$65,275,000	–	1,221,462	–	5.37%	–
AGN	New	ALLERGAN PLC	$57,489,000	–	343,361	–	4.73%	–
TIP	New	ISHARES TRtips bd etf	$52,069,000	–	450,851	–	4.28%	–
V	New	VISA INC	$51,226,000	–	295,163	–	4.21%	–
MSFT	New	MICROSOFT CORP	$50,903,000	–	379,986	–	4.19%	–
LH	New	LABORATORY CORP AMER HLDGS	$46,479,000	–	268,818	–	3.82%	–
AAPL	New	APPLE INC	$46,146,000	–	233,155	–	3.79%	–
FB	New	FACEBOOK INCcl a	$44,914,000	–	232,716	–	3.69%	–
FLS	New	FLOWSERVE CORP	$43,003,000	–	816,148	–	3.54%	–
DIS	New	DISNEY WALT CO	$42,891,000	–	307,156	–	3.53%	–
GOOGL	New	ALPHABET INCcap stk cl a	$42,684,000	–	39,420	–	3.51%	–
AGG	New	ISHARES TRcore us aggbd et	$41,257,000	–	370,514	–	3.39%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$40,326,000	–	636,151	–	3.32%	–
BKNG	New	BOOKING HLDGS INC	$38,853,000	–	20,725	–	3.20%	–
OI	New	OWENS ILL INC	$37,428,000	–	2,167,201	–	3.08%	–
EXPE	New	EXPEDIA GROUP INC	$35,003,000	–	263,121	–	2.88%	–
MDT	New	MEDTRONIC PLC	$33,802,000	–	347,079	–	2.78%	–
LQD	New	ISHARES TRiboxx inv cp etf	$32,422,000	–	260,691	–	2.67%	–
WFC	New	WELLS FARGO CO NEW	$31,934,000	–	674,855	–	2.63%	–
FISV	New	FISERV INC	$31,675,000	–	347,462	–	2.60%	–
FOXA	New	FOX CORP	$30,600,000	–	835,165	–	2.52%	–
C	New	CITIGROUP INC	$29,957,000	–	427,774	–	2.46%	–
BK	New	BANK NEW YORK MELLON CORP	$27,900,000	–	631,941	–	2.29%	–
GE	New	GENERAL ELECTRIC CO	$26,917,000	–	2,563,539	–	2.21%	–
MA	New	MASTERCARD INCcl a	$23,131,000	–	87,441	–	1.90%	–
DE	New	DEERE & CO	$22,638,000	–	136,614	–	1.86%	–
GWW	New	GRAINGER W W INC	$19,795,000	–	73,798	–	1.63%	–
BAC	New	BANK AMER CORP	$19,494,000	–	672,214	–	1.60%	–
EXC	New	EXELON CORP	$3,014,000	–	62,878	–	0.25%	–
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$2,906,000	–	2,130	–	0.24%	–
SYY	New	SYSCO CORP	$2,858,000	–	40,418	–	0.24%	–
PG	New	PROCTER AND GAMBLE CO	$2,782,000	–	25,369	–	0.23%	–
CSCO	New	CISCO SYS INC	$2,598,000	–	47,465	–	0.21%	–
JNJ	New	JOHNSON & JOHNSON	$2,569,000	–	18,443	–	0.21%	–
CVX	New	CHEVRON CORP NEW	$2,521,000	–	20,256	–	0.21%	–
BLK	New	BLACKROCK INC	$2,483,000	–	5,291	–	0.20%	–
MCD	New	MCDONALDS CORP	$2,459,000	–	11,841	–	0.20%	–
BAX	New	BAXTER INTL INC	$2,451,000	–	29,923	–	0.20%	–
ED	New	CONSOLIDATED EDISON INC	$2,449,000	–	27,931	–	0.20%	–
PAYX	New	PAYCHEX INC	$2,309,000	–	28,065	–	0.19%	–
T	New	AT&T INC	$2,299,000	–	68,597	–	0.19%	–
KMB	New	KIMBERLY CLARK CORP	$2,255,000	–	16,916	–	0.18%	–
VZ	New	VERIZON COMMUNICATIONS INC	$2,249,000	–	39,374	–	0.18%	–
EMR	New	EMERSON ELEC CO	$2,141,000	–	32,091	–	0.18%	–
NVS	New	NOVARTIS A Gsponsored adr	$2,137,000	–	23,408	–	0.18%	–
XOM	New	EXXON MOBIL CORP	$2,127,000	–	27,762	–	0.18%	–
INTC	New	INTEL CORP	$2,084,000	–	43,532	–	0.17%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$2,029,000	–	14,712	–	0.17%	–
CAT	New	CATERPILLAR INC DEL	$1,934,000	–	14,193	–	0.16%	–
MTB	New	M & T BK CORP	$1,922,000	–	11,303	–	0.16%	–
USB	New	US BANCORP DEL	$1,912,000	–	36,484	–	0.16%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,865,000	–	46,598	–	0.15%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,774,000	–	17,182	–	0.15%	–
ABC	New	AMERISOURCEBERGEN CORP	$1,776,000	–	20,835	–	0.15%	–
MCK	New	MCKESSON CORP	$1,757,000	–	13,077	–	0.14%	–
DOW	New	DOW INC	$1,657,000	–	33,594	–	0.14%	–
UNP	New	UNION PACIFIC CORP	$945,000	–	5,588	–	0.08%	–
GOOG	New	ALPHABET INCcap stk cl c	$718,000	–	664	–	0.06%	–
AMZN	New	AMAZON COM INC	$701,000	–	370	–	0.06%	–
DEO	New	DIAGEO P L Cspon adr new	$683,000	–	3,965	–	0.06%	–
UTX	New	UNITED TECHNOLOGIES CORP	$684,000	–	5,250	–	0.06%	–
CB	New	CHUBB LIMITED	$645,000	–	4,380	–	0.05%	–
EOG	New	EOG RES INC	$559,000	–	6,000	–	0.05%	–
PEP	New	PEPSICO INC	$555,000	–	4,236	–	0.05%	–
ESS	New	ESSEX PPTY TR INC	$467,000	–	1,599	–	0.04%	–
QCOM	New	QUALCOMM INC	$451,000	–	5,934	–	0.04%	–
KO	New	COCA COLA CO	$415,000	–	8,141	–	0.03%	–
SO	New	SOUTHERN CO	$416,000	–	7,520	–	0.03%	–
IVV	New	ISHARES TRcore s&p500 etf	$292,000	–	990	–	0.02%	–
LOW	New	LOWES COS INC	$252,000	–	2,500	–	0.02%	–
SCHG	New	SCHWAB STRATEGIC TRus lcap gr etf	$250,000	–	3,001	–	0.02%	–
FNDF	New	SCHWAB STRATEGIC TRschwb fdt int lg	$251,000	–	9,027	–	0.02%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$240,000	–	8,310	–	0.02%	–
VTR	New	VENTAS INC	$247,000	–	3,618	–	0.02%	–
BOH	New	BANK HAWAII CORP	$249,000	–	3,000	–	0.02%	–
VOE	New	VANGUARD INDEX FDSmcap vl idxvip	$227,000	–	2,036	–	0.02%	–
EQR	New	EQUITY RESIDENTIALsh ben int	$228,000	–	3,000	–	0.02%	–
BA	New	BOEING CO	$225,000	–	619	–	0.02%	–
HD	New	HOME DEPOT INC	$213,000	–	1,025	–	0.02%	–
ADBE	New	ADOBE INC	$205,000	–	695	–	0.02%	–
BWX	New	SPDR SERIES TRUSTblomberg intl tr	$205,000	–	7,090	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$203,000	–	1,818	–	0.02%	–
GM	New	GENERAL MTRS CO	$212,000	–	5,495	–	0.02%	–
NEE	New	NEXTERA ENERGY INC	$205,000	–	1,000	–	0.02%	–

Q4 2018

			Value		Shares		↓ Weighting
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-3,840	–	-0.02%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,000	–	-0.02%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-750	–	-0.02%	–
GM	Exit	GENERAL MTRS CO	$0	–	-6,450	–	-0.02%	–
BA	Exit	BOEING CO	$0	–	-619	–	-0.02%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-818	–	-0.02%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-3,000	–	-0.02%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-8,600	–	-0.02%	–
FDX	Exit	FEDEX CORP	$0	–	-1,080	–	-0.02%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,325	–	-0.02%	–
LOW	Exit	LOWES COS INC	$0	–	-2,500	–	-0.02%	–
SO	Exit	SOUTHERN CO	$0	–	-7,450	–	-0.03%	–
KO	Exit	COCA COLA CO	$0	–	-8,141	–	-0.03%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-1,599	–	-0.03%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,890	–	-0.04%	–
PEP	Exit	PEPSICO INC	$0	–	-4,386	–	-0.04%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-3,965	–	-0.05%	–
CB	Exit	CHUBB LIMITED	$0	–	-4,380	–	-0.05%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-578	–	-0.06%	–
AMZN	Exit	AMAZON COM INC	$0	–	-350	–	-0.06%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-5,250	–	-0.06%	–
EOG	Exit	EOG RES INC	$0	–	-6,000	–	-0.06%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,581	–	-0.08%	–
MCK	Exit	MCKESSON CORP	$0	–	-8,921	–	-0.10%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-14,828	–	-0.12%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-35,095	–	-0.12%	–
MTB	Exit	M & T BK CORP	$0	–	-8,731	–	-0.12%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-22,684	–	-0.12%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-12,743	–	-0.13%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-13,183	–	-0.13%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-30,388	–	-0.14%	–
MCD	Exit	MCDONALDS CORP	$0	–	-9,767	–	-0.14%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-10,894	–	-0.14%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-10,767	–	-0.14%	–
ED	Exit	CONSOLIDATED EDISON INC	$0	–	-21,871	–	-0.14%	–
INTC	Exit	INTEL CORP	$0	–	-36,466	–	-0.15%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-32,354	–	-0.15%	–
PAYX	Exit	PAYCHEX INC	$0	–	-23,915	–	-0.15%	–
T	Exit	AT&T INC	$0	–	-52,451	–	-0.15%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-21,240	–	-0.15%	–
BAX	Exit	BAXTER INTL INC	$0	–	-24,317	–	-0.16%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-22,377	–	-0.16%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-25,186	–	-0.16%	–
HST	Exit	HOST HOTELS & RESORTS INC	$0	–	-92,157	–	-0.17%	–
CSCO	Exit	CISCO SYS INC	$0	–	-41,942	–	-0.17%	–
WFCPRL	Exit	WELLS FARGO CO NEWperp pfd cnv a	$0	–	-1,603	–	-0.18%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-16,977	–	-0.18%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-15,518	–	-0.18%	–
BXMT	Exit	BLACKSTONE MTG TR INC	$0	–	-65,519	–	-0.19%	–
EXC	Exit	EXELON CORP	$0	–	-55,195	–	-0.20%	–
SYY	Exit	SYSCO CORP	$0	–	-34,629	–	-0.22%	–
USB	Exit	US BANCORP DEL	$0	–	-53,970	–	-0.24%	–
DE	Exit	DEERE & CO	$0	–	-135,617	–	-1.74%	–
GWW	Exit	GRAINGER W W INC	$0	–	-58,676	–	-1.79%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-10,644	–	-1.80%	–
CFX	Exit	COLFAX CORP	$0	–	-588,951	–	-1.81%	–
DIS	Exit	DISNEY WALT CO	$0	–	-183,069	–	-1.82%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-573,531	–	-2.49%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-257,063	–	-2.52%	–
C	Exit	CITIGROUP INC	$0	–	-424,513	–	-2.60%	–
FISV	Exit	FISERV INC	$0	–	-381,811	–	-2.68%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-181,490	–	-2.69%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-2,820,586	–	-2.71%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,167,088	–	-2.93%	–
EXPE	Exit	EXPEDIA GROUP INC	$0	–	-273,644	–	-3.04%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-365,758	–	-3.07%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-369,233	–	-3.32%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-461,171	–	-3.39%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-248,248	–	-3.48%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-529,994	–	-3.48%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-34,135	–	-3.51%	–
OI	Exit	OWENS ILL INC	$0	–	-2,194,274	–	-3.51%	–
V	Exit	VISA INC	$0	–	-278,137	–	-3.56%	–
AAPL	Exit	APPLE INC	$0	–	-202,345	–	-3.89%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-423,684	–	-4.13%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-462,042	–	-4.36%	–
IGSB	Exit	ISHARES TRsh tr crport etf	$0	–	-1,221,986	–	-5.40%	–
AGN	Exit	ALLERGAN PLC	$0	–	-348,224	–	-5.65%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-1,409,886	–	-6.57%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-370,794	–	-6.76%	–

Q3 2018

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$79,391,000	+13.6%	370,794	-0.9%	6.76%	+4.3%
FLS	Sell	FLOWSERVE CORP	$77,107,000	+32.6%	1,409,886	-2.1%	6.57%	+21.7%
AGN	Buy	ALLERGAN PLC	$66,330,000	+15.1%	348,224	+0.7%	5.65%	+5.7%
IGSB	Buy	ISHARES TRsh tr crport etf	$63,336,000	+4.3%	1,221,986	+108.6%	5.40%	-4.3%
TIP	Buy	ISHARES TRtips bd etf	$51,111,000	+0.2%	462,042	+2.3%	4.36%	-8.0%
MSFT	Sell	MICROSOFT CORP	$48,457,000	+12.8%	423,684	-2.7%	4.13%	+3.6%
AAPL	Sell	APPLE INC	$45,677,000	+19.9%	202,345	-1.7%	3.89%	+10.1%
V	Sell	VISA INC	$41,746,000	+8.1%	278,137	-4.6%	3.56%	-0.8%
OI	Buy	OWENS ILL INC	$41,230,000	+14.2%	2,194,274	+2.1%	3.51%	+4.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$41,204,000	-26.3%	34,135	-31.1%	3.51%	-32.4%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$40,889,000	+13.0%	529,994	+15.7%	3.48%	+3.7%
FB	Buy	FACEBOOK INCcl a	$40,827,000	+29.5%	248,248	+53.0%	3.48%	+18.9%
NVS	Buy	NOVARTIS A Gsponsored adr	$39,734,000	+14.3%	461,171	+0.2%	3.39%	+5.0%
AGG	Buy	ISHARES TRcore us aggbd et	$38,961,000	+1.6%	369,233	+2.4%	3.32%	-6.7%
MDT	Sell	MEDTRONIC PLC	$35,980,000	+14.4%	365,758	-0.4%	3.07%	+5.0%
EXPE	Buy	EXPEDIA GROUP INC	$35,705,000	+8.7%	273,644	+0.2%	3.04%	-0.2%
BAC	Buy	BANK AMER CORP	$34,382,000	+5.7%	1,167,088	+1.1%	2.93%	-3.0%
GE	Buy	GENERAL ELECTRIC CO	$31,844,000	+3.9%	2,820,586	+25.3%	2.71%	-4.6%
LH	Buy	LABORATORY CORP AMER HLDGS	$31,521,000	-1.4%	181,490	+1.9%	2.69%	-9.4%
FISV	Sell	FISERV INC	$31,454,000	+9.9%	381,811	-1.1%	2.68%	+0.9%
C	Buy	CITIGROUP INC	$30,455,000	+8.0%	424,513	+0.7%	2.60%	-0.9%
LQD	Buy	ISHARES TRiboxx inv cp etf	$29,544,000	+5.4%	257,063	+5.0%	2.52%	-3.3%
BK	Buy	BANK NEW YORK MELLON CORP	$29,244,000	-4.4%	573,531	+1.1%	2.49%	-12.3%
DIS	Buy	DISNEY WALT CO	$21,408,000	+8133.8%	183,069	+7281.8%	1.82%	+7500.0%
CFX	Buy	COLFAX CORP	$21,238,000	+20.1%	588,951	+2.1%	1.81%	+10.2%
BKNG	Buy	BOOKING HLDGS INC	$21,118,000	-1.5%	10,644	+0.6%	1.80%	-9.6%
GWW	Sell	GRAINGER W W INC	$20,971,000	-40.2%	58,676	-48.4%	1.79%	-45.1%
DE	Buy	DEERE & CO	$20,387,000	+8.9%	135,617	+1.3%	1.74%	0.0%
USB	Buy	US BANCORP DEL	$2,850,000	+6.9%	53,970	+1.2%	0.24%	-1.6%
SYY	Buy	SYSCO CORP	$2,537,000	+8.4%	34,629	+1.0%	0.22%	-0.5%
EXC	Buy	EXELON CORP	$2,410,000	+3.7%	55,195	+1.1%	0.20%	-5.1%
BXMT	Buy	BLACKSTONE MTG TR INC	$2,196,000	+7.9%	65,519	+1.1%	0.19%	-1.1%
JNJ	Buy	JOHNSON & JOHNSON	$2,144,000	+23.6%	15,518	+8.6%	0.18%	+13.7%
CVX	Buy	CHEVRON CORP NEW	$2,076,000	-1.4%	16,977	+1.9%	0.18%	-9.2%
WFCPRL	Buy	WELLS FARGO CO NEWperp pfd cnv a	$2,069,000	+7.1%	1,603	+4.5%	0.18%	-1.7%
CSCO	Buy	CISCO SYS INC	$2,040,000	+14.5%	41,942	+1.3%	0.17%	+5.5%
HST	Buy	HOST HOTELS & RESORTS INC	$1,945,000	+0.7%	92,157	+0.5%	0.17%	-7.3%
EMR	Buy	EMERSON ELEC CO	$1,929,000	+11.6%	25,186	+0.7%	0.16%	+2.5%
XOM	Buy	EXXON MOBIL CORP	$1,903,000	+7.0%	22,377	+4.1%	0.16%	-1.8%
BAX	Buy	BAXTER INTL INC	$1,875,000	+6.2%	24,317	+1.7%	0.16%	-2.4%
PG	Buy	PROCTER AND GAMBLE CO	$1,768,000	+8.5%	21,240	+1.8%	0.15%	0.0%
PAYX	Buy	PAYCHEX INC	$1,761,000	+8.8%	23,915	+1.0%	0.15%	0.0%
T	Buy	AT&T INC	$1,761,000	+8.1%	52,451	+3.4%	0.15%	-0.7%
VZ	Buy	VERIZON COMMUNICATIONS INC	$1,727,000	+10.4%	32,354	+4.1%	0.15%	+1.4%
INTC	Buy	INTEL CORP	$1,724,000	-1.7%	36,466	+3.4%	0.15%	-9.8%
ED	Buy	CONSOLIDATED EDISON INC	$1,666,000	+0.3%	21,871	+2.7%	0.14%	-7.8%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$1,647,000	+11.6%	10,894	+3.1%	0.14%	+2.2%
CAT	Buy	CATERPILLAR INC DEL	$1,642,000	+15.7%	10,767	+3.0%	0.14%	+6.1%
MCD	Buy	MCDONALDS CORP	$1,634,000	+9.4%	9,767	+2.4%	0.14%	0.0%
WFC	Buy	WELLS FARGO CO NEW	$1,597,000	-2.6%	30,388	+2.8%	0.14%	-10.5%
KMB	Buy	KIMBERLY CLARK CORP	$1,498,000	+10.8%	13,183	+2.7%	0.13%	+2.4%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$1,488,000	+12.1%	12,743	+2.0%	0.13%	+3.3%
DWDP	Buy	DOWDUPONT INC	$1,459,000	-0.3%	22,684	+2.1%	0.12%	-8.8%
MTB	Buy	M & T BK CORP	$1,437,000	-0.7%	8,731	+2.6%	0.12%	-9.0%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$1,410,000	+2.8%	35,095	+3.1%	0.12%	-5.5%
ABC	Buy	AMERISOURCEBERGEN CORP	$1,367,000	+11.0%	14,828	+2.7%	0.12%	+1.8%
MCK	Buy	MCKESSON CORP	$1,183,000	+5.4%	8,921	+6.1%	0.10%	-2.9%
UNP	Buy	UNION PAC CORP	$909,000	+15.1%	5,581	+0.0%	0.08%	+5.5%
AMZN	Buy	AMAZON COM INC	$701,000	+42.2%	350	+20.7%	0.06%	+30.4%
GOOG	Sell	ALPHABET INCcap stk cl c	$690,000	-65.9%	578	-68.2%	0.06%	-68.6%
KO	Sell	COCA COLA CO	$376,000	+4.2%	8,141	-1.2%	0.03%	-5.9%
EPD	Buy	ENTERPRISE PRODS PARTNERS L	$247,000	+17.6%	8,600	+13.2%	0.02%	+10.5%
BA	New	BOEING CO	$230,000	–	619	–	0.02%	–
GM	Sell	GENERAL MTRS CO	$217,000	-33.2%	6,450	-21.8%	0.02%	-40.0%
AIG	Sell	AMERICAN INTL GROUP INC	$204,000	-13.2%	3,840	-13.5%	0.02%	-22.7%
ADBE	New	ADOBE SYS INC	$202,000	–	750	–	0.02%	–
VTR	Exit	VENTAS INC	$0	–	-3,618	–	-0.02%	–

Q2 2018

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$69,868,000	–	374,326	–	6.48%	–
IGSB	New	ISHARES TR1 3 yr cr bd etf	$60,747,000	–	585,800	–	5.64%	–
FLS	New	FLOWSERVE CORP	$58,152,000	–	1,439,404	–	5.40%	–
AGN	New	ALLERGAN PLC	$57,637,000	–	345,710	–	5.35%	–
GOOGL	New	ALPHABET INCcap stk cl a	$55,928,000	–	49,529	–	5.19%	–
TIP	New	ISHARES TRtips bd etf	$50,997,000	–	451,822	–	4.73%	–
MSFT	New	MICROSOFT CORP	$42,943,000	–	435,486	–	3.99%	–
V	New	VISA INC	$38,612,000	–	291,519	–	3.58%	–
AGG	New	ISHARES TRcore us aggbd et	$38,355,000	–	360,746	–	3.56%	–
AAPL	New	APPLE INC	$38,102,000	–	205,834	–	3.54%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$36,190,000	–	458,163	–	3.36%	–
OI	New	OWENS ILL INC	$36,115,000	–	2,148,425	–	3.35%	–
GWW	New	GRAINGER W W INC	$35,062,000	–	113,691	–	3.25%	–
NVS	New	NOVARTIS A Gsponsored adr	$34,755,000	–	460,094	–	3.23%	–
EXPE	New	EXPEDIA GROUP INC	$32,834,000	–	273,186	–	3.05%	–
BAC	New	BANK AMER CORP	$32,540,000	–	1,154,306	–	3.02%	–
LH	New	LABORATORY CORP AMER HLDGS	$31,960,000	–	178,023	–	2.97%	–
FB	New	FACEBOOK INCcl a	$31,524,000	–	162,225	–	2.93%	–
MDT	New	MEDTRONIC PLC	$31,452,000	–	367,390	–	2.92%	–
GE	New	GENERAL ELECTRIC CO	$30,648,000	–	2,251,890	–	2.84%	–
BK	New	BANK NEW YORK MELLON CORP	$30,594,000	–	567,284	–	2.84%	–
FISV	New	FISERV INC	$28,611,000	–	386,163	–	2.66%	–
C	New	CITIGROUP INC	$28,208,000	–	421,515	–	2.62%	–
LQD	New	ISHARES TRiboxx inv cp etf	$28,040,000	–	244,745	–	2.60%	–
BKNG	New	BOOKING HLDGS INC	$21,441,000	–	10,577	–	1.99%	–
DE	New	DEERE & CO	$18,718,000	–	133,893	–	1.74%	–
CFX	New	COLFAX CORP	$17,687,000	–	577,054	–	1.64%	–
USB	New	US BANCORP DEL	$2,666,000	–	53,308	–	0.25%	–
SYY	New	SYSCO CORP	$2,341,000	–	34,278	–	0.22%	–
EXC	New	EXELON CORP	$2,325,000	–	54,576	–	0.22%	–
CVX	New	CHEVRON CORP NEW	$2,105,000	–	16,653	–	0.20%	–
BXMT	New	BLACKSTONE MTG TR INC	$2,036,000	–	64,778	–	0.19%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,026,000	–	1,816	–	0.19%	–
HST	New	HOST HOTELS & RESORTS INC	$1,932,000	–	91,714	–	0.18%	–
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$1,931,000	–	1,534	–	0.18%	–
CSCO	New	CISCO SYS INC	$1,781,000	–	41,389	–	0.16%	–
XOM	New	EXXON MOBIL CORP	$1,778,000	–	21,491	–	0.16%	–
BAX	New	BAXTER INTL INC	$1,766,000	–	23,911	–	0.16%	–
INTC	New	INTEL CORP	$1,753,000	–	35,274	–	0.16%	–
JNJ	New	JOHNSON & JOHNSON	$1,734,000	–	14,287	–	0.16%	–
EMR	New	EMERSON ELEC CO	$1,729,000	–	25,009	–	0.16%	–
ED	New	CONSOLIDATED EDISON INC	$1,661,000	–	21,300	–	0.15%	–
WFC	New	WELLS FARGO CO NEW	$1,639,000	–	29,571	–	0.15%	–
T	New	AT&T INC	$1,629,000	–	50,740	–	0.15%	–
PG	New	PROCTER AND GAMBLE CO	$1,629,000	–	20,864	–	0.15%	–
PAYX	New	PAYCHEX INC	$1,618,000	–	23,678	–	0.15%	–
VZ	New	VERIZON COMMUNICATIONS INC	$1,564,000	–	31,081	–	0.14%	–
MCD	New	MCDONALDS CORP	$1,494,000	–	9,536	–	0.14%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,476,000	–	10,563	–	0.14%	–
DWDP	New	DOWDUPONT INC	$1,464,000	–	22,213	–	0.14%	–
MTB	New	M & T BK CORP	$1,447,000	–	8,506	–	0.13%	–
CAT	New	CATERPILLAR INC DEL	$1,419,000	–	10,456	–	0.13%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,372,000	–	34,041	–	0.13%	–
KMB	New	KIMBERLY CLARK CORP	$1,352,000	–	12,837	–	0.12%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,327,000	–	12,488	–	0.12%	–
ABC	New	AMERISOURCEBERGEN CORP	$1,231,000	–	14,442	–	0.11%	–
MCK	New	MCKESSON CORP	$1,122,000	–	8,410	–	0.10%	–
UNP	New	UNION PAC CORP	$790,000	–	5,579	–	0.07%	–
EOG	New	EOG RES INC	$747,000	–	6,000	–	0.07%	–
UTX	New	UNITED TECHNOLOGIES CORP	$656,000	–	5,250	–	0.06%	–
DEO	New	DIAGEO P L Cspon adr new	$571,000	–	3,965	–	0.05%	–
CB	New	CHUBB LIMITED	$556,000	–	4,380	–	0.05%	–
AMZN	New	AMAZON COM INC	$493,000	–	290	–	0.05%	–
PEP	New	PEPSICO INC	$478,000	–	4,386	–	0.04%	–
ESS	New	ESSEX PPTY TR INC	$382,000	–	1,599	–	0.04%	–
KO	New	COCA COLA CO	$361,000	–	8,241	–	0.03%	–
SO	New	SOUTHERN CO	$345,000	–	7,450	–	0.03%	–
QCOM	New	QUALCOMM INC	$331,000	–	5,890	–	0.03%	–
GM	New	GENERAL MTRS CO	$325,000	–	8,245	–	0.03%	–
DIS	New	DISNEY WALT CO	$260,000	–	2,480	–	0.02%	–
HD	New	HOME DEPOT INC	$259,000	–	1,325	–	0.02%	–
FDX	New	FEDEX CORP	$245,000	–	1,080	–	0.02%	–
BOH	New	BANK HAWAII CORP	$250,000	–	3,000	–	0.02%	–
AIG	New	AMERICAN INTL GROUP INC	$235,000	–	4,440	–	0.02%	–
LOW	New	LOWES COS INC	$239,000	–	2,500	–	0.02%	–
IVV	New	ISHARES TRcore s&p500 etf	$223,000	–	818	–	0.02%	–
VTR	New	VENTAS INC	$206,000	–	3,618	–	0.02%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$210,000	–	7,600	–	0.02%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$208,000	–	3,000	–	0.02%	–

Q4 2017

			Value		Shares		↓ Weighting
VSAR	Exit	VERSARTIS INC	$0	–	-40,000	–	-0.01%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-818	–	-0.02%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,035	–	-0.02%	–
LOW	Exit	LOWES COS INC	$0	–	-2,800	–	-0.02%	–
QQQ	Exit	POWERSHARES QQQ TRUSTunit ser 1	$0	–	-1,613	–	-0.02%	–
AMZN	Exit	AMAZON COM INC	$0	–	-255	–	-0.02%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-3,000	–	-0.02%	–
DIS	Exit	DISNEY WALT CO	$0	–	-2,599	–	-0.02%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,785	–	-0.03%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,890	–	-0.03%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,496	–	-0.03%	–
SO	Exit	SOUTHERN CO	$0	–	-7,450	–	-0.03%	–
KO	Exit	COCA COLA CO	$0	–	-8,515	–	-0.04%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-1,599	–	-0.04%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-6,693	–	-0.04%	–
FDX	Exit	FEDEX CORP	$0	–	-1,977	–	-0.04%	–
TWX	Exit	TIME WARNER INC	$0	–	-4,924	–	-0.05%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-4,299	–	-0.05%	–
EOG	Exit	EOG RES INC	$0	–	-6,000	–	-0.05%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-5,190	–	-0.06%	–
PEP	Exit	PEPSICO INC	$0	–	-5,519	–	-0.06%	–
CB	Exit	CHUBB LIMITED	$0	–	-4,380	–	-0.06%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,572	–	-0.06%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-31,564	–	-0.07%	–
MCK	Exit	MCKESSON CORP	$0	–	-6,300	–	-0.09%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-24,060	–	-0.09%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-11,835	–	-0.09%	–
PAYX	Exit	PAYCHEX INC	$0	–	-18,760	–	-0.10%	–
MTB	Exit	M & T BK CORP	$0	–	-7,050	–	-0.10%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-9,860	–	-0.11%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-8,100	–	-0.11%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-24,709	–	-0.11%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-17,905	–	-0.12%	–
ETN	Exit	EATON CORP PLC	$0	–	-16,090	–	-0.12%	–
MCD	Exit	MCDONALDS CORP	$0	–	-8,120	–	-0.12%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-10,848	–	-0.12%	–
ED	Exit	CONSOLIDATED EDISON INC	$0	–	-16,410	–	-0.12%	–
HST	Exit	HOST HOTELS & RESORTS INC	$0	–	-72,181	–	-0.12%	–
INTC	Exit	INTEL CORP	$0	–	-36,511	–	-0.13%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-22,400	–	-0.13%	–
CSCO	Exit	CISCO SYS INC	$0	–	-42,150	–	-0.13%	–
BAX	Exit	BAXTER INTL INC	$0	–	-23,020	–	-0.13%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-27,562	–	-0.14%	–
WFCPRL	Exit	WELLS FARGO CO NEWperp pfd cnv a	$0	–	-1,184	–	-0.14%	–
BXMT	Exit	BLACKSTONE MTG TR INC	$0	–	-50,055	–	-0.14%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-12,445	–	-0.14%	–
T	Exit	AT&T INC	$0	–	-40,359	–	-0.15%	–
SYY	Exit	SYSCO CORP	$0	–	-29,510	–	-0.15%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-13,314	–	-0.16%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-21,347	–	-0.16%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-19,460	–	-0.16%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-15,598	–	-0.17%	–
EXC	Exit	EXELON CORP	$0	–	-49,455	–	-0.17%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,461	–	-0.22%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-116,430	–	-1.63%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-10,375	–	-1.76%	–
EXPE	Exit	EXPEDIA INC DEL	$0	–	-142,908	–	-1.91%	–
CFX	Exit	COLFAX CORP	$0	–	-581,724	–	-2.25%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-83,730	–	-2.39%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-648,110	–	-2.44%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-374,510	–	-2.52%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-366,196	–	-2.64%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-234,991	–	-2.64%	–
FISV	Exit	FISERV INC	$0	–	-221,767	–	-2.65%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-566,105	–	-2.78%	–
GWW	Exit	GRAINGER W W INC	$0	–	-170,965	–	-2.85%	–
OI	Exit	OWENS ILL INC	$0	–	-1,369,153	–	-3.20%	–
DE	Exit	DEERE & CO	$0	–	-281,941	–	-3.28%	–
V	Exit	VISA INC	$0	–	-339,897	–	-3.32%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,416,238	–	-3.33%	–
AAPL	Exit	APPLE INC	$0	–	-239,384	–	-3.42%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-351,440	–	-3.57%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-453,034	–	-3.61%	–
GM	Exit	GENERAL MTRS CO	$0	–	-979,192	–	-3.67%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-538,730	–	-3.72%	–
AGN	Exit	ALLERGAN PLC	$0	–	-225,304	–	-4.28%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-427,136	–	-4.50%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-52,415	–	-4.73%	–
C	Exit	CITIGROUP INC	$0	–	-710,874	–	-4.80%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-1,224,722	–	-4.84%	–
IGSB	Exit	ISHARES TR1 3 yr cr bd etf	$0	–	-557,046	–	-5.44%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-410,250	–	-6.98%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$75,207,000	+9.0%	410,250	+0.7%	6.98%	+6.1%
IGSB	Buy	ISHARES TR1 3 yr cr bd etf	$58,685,000	+2.6%	557,046	+2.5%	5.44%	-0.1%
FLS	Buy	FLOWSERVE CORP	$52,161,000	-4.1%	1,224,722	+4.5%	4.84%	-6.7%
C	Buy	CITIGROUP INC	$51,709,000	+23.2%	710,874	+13.2%	4.80%	+19.9%
GOOGL	Buy	ALPHABET INCcap stk cl a	$51,038,000	+5.0%	52,415	+0.2%	4.73%	+2.2%
TIP	Buy	ISHARES TRtips bd etf	$48,514,000	+2.0%	427,136	+1.8%	4.50%	-0.7%
AGN	Buy	ALLERGAN PLC	$46,176,000	-13.8%	225,304	+2.3%	4.28%	-16.0%
MSFT	Buy	MICROSOFT CORP	$40,130,000	+9.3%	538,730	+1.1%	3.72%	+6.4%
GM	Buy	GENERAL MTRS CO	$39,540,000	+16.8%	979,192	+1.0%	3.67%	+13.7%
NVS	Buy	NOVARTIS A Gsponsored adr	$38,893,000	+3.9%	453,034	+1.0%	3.61%	+1.2%
AGG	Buy	ISHARES TRcore us aggbd et	$38,514,000	+1.6%	351,440	+1.5%	3.57%	-1.1%
AAPL	Sell	APPLE INC	$36,894,000	-36.5%	239,384	-40.6%	3.42%	-38.1%
BAC	Buy	BANK AMER CORP	$35,887,000	+45.9%	1,416,238	+39.6%	3.33%	+42.0%
V	Buy	VISA INC	$35,771,000	+12.9%	339,897	+0.6%	3.32%	+9.9%
DE	Sell	DEERE & CO	$35,409,000	+0.9%	281,941	-0.8%	3.28%	-1.8%
OI	Sell	OWENS ILL INC	$34,448,000	+4.3%	1,369,153	-0.9%	3.20%	+1.5%
GWW	Buy	GRAINGER W W INC	$30,731,000	+44.4%	170,965	+45.0%	2.85%	+40.5%
BK	Buy	BANK NEW YORK MELLON CORP	$30,015,000	+5.1%	566,105	+1.1%	2.78%	+2.4%
FISV	Buy	FISERV INC	$28,599,000	+5.5%	221,767	+0.1%	2.65%	+2.7%
LQD	Buy	ISHARES TRiboxx inv cp etf	$28,488,000	+2.3%	234,991	+1.7%	2.64%	-0.4%
MDT	Buy	MEDTRONIC PLC	$28,479,000	-11.4%	366,196	+1.1%	2.64%	-13.7%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$27,167,000	+9.7%	374,510	+0.4%	2.52%	+6.7%
MDLZ	Buy	MONDELEZ INTL INCcl a	$26,352,000	-4.8%	648,110	+1.1%	2.44%	-7.3%
CMG	New	CHIPOTLE MEXICAN GRILL INC	$25,775,000	–	83,730	–	2.39%	–
CFX	Sell	COLFAX CORP	$24,223,000	+4.2%	581,724	-1.5%	2.25%	+1.4%
EXPE	Buy	EXPEDIA INC DEL	$20,570,000	-1.6%	142,908	+1.8%	1.91%	-4.2%
PCLN	Buy	PRICELINE GRP INC	$18,995,000	-0.4%	10,375	+1.7%	1.76%	-3.0%
LH	New	LABORATORY CORP AMER HLDGS	$17,577,000	–	116,430	–	1.63%	–
GOOG	Sell	ALPHABET INCcap stk cl c	$2,360,000	+0.3%	2,461	-4.9%	0.22%	-2.2%
EXC	Buy	EXELON CORP	$1,863,000	+16.2%	49,455	+11.3%	0.17%	+13.1%
CVX	Buy	CHEVRON CORP NEW	$1,833,000	+33.0%	15,598	+18.1%	0.17%	+29.8%
PG	Buy	PROCTER AND GAMBLE CO	$1,770,000	+13.8%	19,460	+9.1%	0.16%	+10.8%
XOM	Buy	EXXON MOBIL CORP	$1,750,000	+12.5%	21,347	+10.8%	0.16%	+9.5%
JNJ	Buy	JOHNSON & JOHNSON	$1,731,000	+6.0%	13,314	+7.9%	0.16%	+3.2%
SYY	Buy	SYSCO CORP	$1,592,000	+19.3%	29,510	+11.2%	0.15%	+16.5%
T	Buy	AT&T INC	$1,581,000	+16.5%	40,359	+12.2%	0.15%	+14.0%
CAT	Buy	CATERPILLAR INC DEL	$1,552,000	+26.4%	12,445	+8.9%	0.14%	+23.1%
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$1,557,000	–	1,184	–	0.14%	–
BXMT	Buy	BLACKSTONE MTG TR INC	$1,553,000	+12.4%	50,055	+14.4%	0.14%	+9.1%
WFC	Sell	WELLS FARGO CO NEW	$1,520,000	-92.4%	27,562	-92.4%	0.14%	-92.6%
BAX	Buy	BAXTER INTL INC	$1,445,000	+14.6%	23,020	+10.5%	0.13%	+11.7%
CSCO	Buy	CISCO SYS INC	$1,418,000	+41.9%	42,150	+32.0%	0.13%	+38.9%
EMR	Buy	EMERSON ELEC CO	$1,408,000	+18.7%	22,400	+12.6%	0.13%	+15.9%
INTC	Buy	INTEL CORP	$1,390,000	+17.8%	36,511	+4.4%	0.13%	+15.2%
HST	Buy	HOST HOTELS & RESORTS INC	$1,335,000	+17.4%	72,181	+16.0%	0.12%	+14.8%
ED	Buy	CONSOLIDATED EDISON INC	$1,324,000	+12.9%	16,410	+13.1%	0.12%	+9.8%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$1,303,000	+22.1%	10,848	+12.4%	0.12%	+18.6%
MCD	Buy	MCDONALDS CORP	$1,272,000	+13.3%	8,120	+10.7%	0.12%	+10.3%
DWDP	New	DOWDUPONT INC	$1,240,000	–	17,905	–	0.12%	–
ETN	New	EATON CORP PLC	$1,236,000	–	16,090	–	0.12%	–
VZ	Buy	VERIZON COMMUNICATIONS INC	$1,223,000	+26.7%	24,709	+14.3%	0.11%	+22.8%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$1,175,000	+7.8%	8,100	+14.3%	0.11%	+4.8%
KMB	Buy	KIMBERLY CLARK CORP	$1,160,000	+3.9%	9,860	+14.1%	0.11%	+1.9%
MTB	Buy	M & T BK CORP	$1,135,000	+13.3%	7,050	+14.0%	0.10%	+10.5%
PAYX	Buy	PAYCHEX INC	$1,125,000	+22.1%	18,760	+16.0%	0.10%	+18.2%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$977,000	+13.1%	24,060	+20.1%	0.09%	+11.0%
ABC	Buy	AMERISOURCEBERGEN CORP	$979,000	+3.1%	11,835	+17.8%	0.09%	+1.1%
MCK	Buy	MCKESSON CORP	$968,000	+11.3%	6,300	+19.2%	0.09%	+8.4%
GE	Sell	GENERAL ELECTRIC CO	$763,000	-12.7%	31,564	-2.5%	0.07%	-14.5%
UNP	Buy	UNION PAC CORP	$646,000	+6.4%	5,572	+0.0%	0.06%	+3.4%
PEP	Sell	PEPSICO INC	$615,000	-8.1%	5,519	-4.8%	0.06%	-10.9%
UTX	Sell	UNITED TECHNOLOGIES CORP	$602,000	-5.3%	5,190	-0.3%	0.06%	-8.2%
DEO	Sell	DIAGEO P L Cspon adr new	$568,000	+9.9%	4,299	-0.3%	0.05%	+8.2%
TWX	Sell	TIME WARNER INC	$504,000	-96.7%	4,924	-96.8%	0.05%	-96.8%
FDX	Buy	FEDEX CORP	$446,000	+4.0%	1,977	+0.1%	0.04%	0.0%
AIG	Sell	AMERICAN INTL GROUP INC	$411,000	-8.1%	6,693	-6.4%	0.04%	-11.6%
KO	Buy	COCA COLA CO	$383,000	+3.5%	8,515	+3.3%	0.04%	+2.9%
JPM	New	JPMORGAN CHASE & CO	$334,000	–	3,496	–	0.03%	–
HD	Buy	HOME DEPOT INC	$292,000	+43.8%	1,785	+34.7%	0.03%	+42.1%
AMZN	Buy	AMAZON COM INC	$245,000	+1.2%	255	+2.0%	0.02%	0.0%
QQQ	New	POWERSHARES QQQ TRUSTunit ser 1	$235,000	–	1,613	–	0.02%	–
LOW	New	LOWES COS INC	$224,000	–	2,800	–	0.02%	–
SLB	New	SCHLUMBERGER LTD	$212,000	–	3,035	–	0.02%	–
IVV	New	ISHARES TRcore s&p500 etf	$207,000	–	818	–	0.02%	–
VSAR	New	VERSARTIS INC	$98,000	–	40,000	–	0.01%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-7,600	–	-0.02%	–
BCR	Exit	BARD C R INC	$0	–	-1,211	–	-0.04%	–
DOW	Exit	DOW CHEM CO	$0	–	-15,875	–	-0.10%	–
SRCL	Exit	STERICYCLE INC	$0	–	-252,325	–	-1.83%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$69,018,000	–	407,497	–	6.57%	–
AAPL	New	APPLE INC	$58,069,000	–	403,204	–	5.53%	–
IGSB	New	ISHARES TR1-3 yr cr bd etf	$57,224,000	–	543,386	–	5.45%	–
FLS	New	FLOWSERVE CORP	$54,416,000	–	1,172,000	–	5.18%	–
AGN	New	ALLERGAN PLC	$53,542,000	–	220,257	–	5.10%	–
GOOGL	New	ALPHABET INCcap stk cl a	$48,608,000	–	52,285	–	4.63%	–
TIP	New	ISHARES TRtips bd etf	$47,586,000	–	419,517	–	4.53%	–
C	New	CITIGROUP INC	$41,984,000	–	627,751	–	4.00%	–
AGG	New	ISHARES TRcore us aggbd et	$37,919,000	–	346,264	–	3.61%	–
NVS	New	NOVARTIS A Gsponsored adr	$37,424,000	–	448,357	–	3.56%	–
MSFT	New	MICROSOFT CORP	$36,715,000	–	532,636	–	3.50%	–
DE	New	DEERE & CO	$35,109,000	–	284,078	–	3.34%	–
GM	New	GENERAL MTRS CO	$33,852,000	–	969,134	–	3.22%	–
OI	New	OWENS ILL INC	$33,036,000	–	1,381,098	–	3.15%	–
MDT	New	MEDTRONIC PLC	$32,132,000	–	362,054	–	3.06%	–
V	New	VISA INC	$31,697,000	–	337,997	–	3.02%	–
BK	New	BANK NEW YORK MELLON CORP	$28,559,000	–	559,756	–	2.72%	–
LQD	New	ISHARES TRiboxx inv cp etf	$27,843,000	–	231,045	–	2.65%	–
MDLZ	New	MONDELEZ INTL INCcl a	$27,689,000	–	641,108	–	2.64%	–
FISV	New	FISERV INC	$27,115,000	–	221,640	–	2.58%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$24,774,000	–	373,099	–	2.36%	–
BAC	New	BANK AMER CORP	$24,604,000	–	1,014,163	–	2.34%	–
CFX	New	COLFAX CORP	$23,255,000	–	590,676	–	2.22%	–
GWW	New	GRAINGER W W INC	$21,289,000	–	117,924	–	2.03%	–
EXPE	New	EXPEDIA INC DEL	$20,905,000	–	140,351	–	1.99%	–
WFC	New	WELLS FARGO CO NEW	$20,099,000	–	362,737	–	1.91%	–
SRCL	New	STERICYCLE INC	$19,257,000	–	252,325	–	1.83%	–
PCLN	New	PRICELINE GRP INC	$19,079,000	–	10,200	–	1.82%	–
TWX	New	TIME WARNER INC	$15,464,000	–	154,005	–	1.47%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,352,000	–	2,588	–	0.22%	–
JNJ	New	JOHNSON & JOHNSON	$1,633,000	–	12,342	–	0.16%	–
EXC	New	EXELON CORP	$1,603,000	–	44,433	–	0.15%	–
XOM	New	EXXON MOBIL CORP	$1,555,000	–	19,267	–	0.15%	–
PG	New	PROCTER AND GAMBLE CO	$1,555,000	–	17,845	–	0.15%	–
BXMT	New	BLACKSTONE MTG TR INC	$1,382,000	–	43,740	–	0.13%	–
CVX	New	CHEVRON CORP NEW	$1,378,000	–	13,208	–	0.13%	–
T	New	AT&T INC	$1,357,000	–	35,964	–	0.13%	–
SYY	New	SYSCO CORP	$1,335,000	–	26,530	–	0.13%	–
BAX	New	BAXTER INTL INC	$1,261,000	–	20,830	–	0.12%	–
CAT	New	CATERPILLAR INC DEL	$1,228,000	–	11,425	–	0.12%	–
EMR	New	EMERSON ELEC CO	$1,186,000	–	19,890	–	0.11%	–
ED	New	CONSOLIDATED EDISON INC	$1,173,000	–	14,510	–	0.11%	–
INTC	New	INTEL CORP	$1,180,000	–	34,982	–	0.11%	–
HST	New	HOST HOTELS & RESORTS INC	$1,137,000	–	62,221	–	0.11%	–
MCD	New	MCDONALDS CORP	$1,123,000	–	7,335	–	0.11%	–
KMB	New	KIMBERLY CLARK CORP	$1,116,000	–	8,640	–	0.11%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,090,000	–	7,086	–	0.10%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,067,000	–	9,647	–	0.10%	–
DOW	New	DOW CHEM CO	$1,001,000	–	15,875	–	0.10%	–
CSCO	New	CISCO SYS INC	$999,000	–	31,920	–	0.10%	–
MTB	New	M & T BK CORP	$1,002,000	–	6,185	–	0.10%	–
VZ	New	VERIZON COMMUNICATIONS INC	$965,000	–	21,615	–	0.09%	–
ABC	New	AMERISOURCEBERGEN CORP	$950,000	–	10,050	–	0.09%	–
PAYX	New	PAYCHEX INC	$921,000	–	16,175	–	0.09%	–
MCK	New	MCKESSON CORP	$870,000	–	5,285	–	0.08%	–
GE	New	GENERAL ELECTRIC CO	$874,000	–	32,361	–	0.08%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$864,000	–	20,030	–	0.08%	–
PEP	New	PEPSICO INC	$669,000	–	5,795	–	0.06%	–
CB	New	CHUBB LIMITED	$637,000	–	4,380	–	0.06%	–
UTX	New	UNITED TECHNOLOGIES CORP	$636,000	–	5,205	–	0.06%	–
UNP	New	UNION PAC CORP	$607,000	–	5,570	–	0.06%	–
EOG	New	EOG RES INC	$543,000	–	6,000	–	0.05%	–
DEO	New	DIAGEO P L Cspon adr new	$517,000	–	4,314	–	0.05%	–
AIG	New	AMERICAN INTL GROUP INC	$447,000	–	7,153	–	0.04%	–
FDX	New	FEDEX CORP	$429,000	–	1,975	–	0.04%	–
ESS	New	ESSEX PPTY TR INC	$411,000	–	1,599	–	0.04%	–
BCR	New	BARD C R INC	$383,000	–	1,211	–	0.04%	–
KO	New	COCA COLA CO	$370,000	–	8,241	–	0.04%	–
SO	New	SOUTHERN CO	$357,000	–	7,450	–	0.03%	–
QCOM	New	QUALCOMM INC	$325,000	–	5,890	–	0.03%	–
DIS	New	DISNEY WALT CO	$276,000	–	2,599	–	0.03%	–
BOH	New	BANK HAWAII CORP	$249,000	–	3,000	–	0.02%	–
AMZN	New	AMAZON COM INC	$242,000	–	250	–	0.02%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$206,000	–	7,600	–	0.02%	–
HD	New	HOME DEPOT INC	$203,000	–	1,325	–	0.02%	–

Q4 2016

			Value		Shares		↓ Weighting
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-3,730	–	-0.02%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-7,600	–	-0.02%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-3,575	–	-0.02%	–
PFE	Exit	PFIZER INC	$0	–	-6,647	–	-0.02%	–
KBWY	Exit	POWERSHARES ETF TRUST IIkbw yield reit	$0	–	-6,286	–	-0.02%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-5,475	–	-0.02%	–
AMZN	Exit	AMAZON COM INC	$0	–	-310	–	-0.03%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-3,600	–	-0.03%	–
DIS	Exit	DISNEY WALT CO	$0	–	-3,099	–	-0.03%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,632	–	-0.03%	–
MMM	Exit	3M CO	$0	–	-1,768	–	-0.03%	–
V	Exit	VISA INC	$0	–	-3,990	–	-0.03%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-3,897	–	-0.03%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,836	–	-0.04%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-1,750	–	-0.04%	–
HD	Exit	HOME DEPOT INC	$0	–	-3,378	–	-0.04%	–
SO	Exit	SOUTHERN CO	$0	–	-9,220	–	-0.05%	–
EOG	Exit	EOG RES INC	$0	–	-6,000	–	-0.06%	–
LOW	Exit	LOWES COS INC	$0	–	-8,300	–	-0.06%	–
CB	Exit	CHUBB LIMITED	$0	–	-4,878	–	-0.06%	–
KO	Exit	COCA COLA CO	$0	–	-15,491	–	-0.07%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-8,215	–	-0.07%	–
MTB	Exit	M & T BK CORP	$0	–	-5,775	–	-0.07%	–
MCK	Exit	MCKESSON CORP	$0	–	-4,080	–	-0.07%	–
UNP	Exit	UNION PAC CORP	$0	–	-7,013	–	-0.07%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-16,155	–	-0.07%	–
FDX	Exit	FEDEX CORP	$0	–	-4,062	–	-0.07%	–
DOW	Exit	DOW CHEM CO	$0	–	-13,930	–	-0.07%	–
MCD	Exit	MCDONALDS CORP	$0	–	-6,325	–	-0.07%	–
MAT	Exit	MATTEL INC	$0	–	-25,570	–	-0.08%	–
HST	Exit	HOST HOTELS & RESORTS INC	$0	–	-52,686	–	-0.08%	–
BAX	Exit	BAXTER INTL INC	$0	–	-18,545	–	-0.09%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-10,320	–	-0.09%	–
ED	Exit	CONSOLIDATED EDISON INC	$0	–	-12,240	–	-0.09%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-17,565	–	-0.10%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-7,735	–	-0.10%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-19,565	–	-0.10%	–
PAYX	Exit	PAYCHEX INC	$0	–	-17,660	–	-0.10%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-6,770	–	-0.11%	–
BXMT	Exit	BLACKSTONE MTG TR INC	$0	–	-37,040	–	-0.11%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-12,174	–	-0.11%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-10,415	–	-0.11%	–
WFCPRL	Exit	WELLS FARGO & CO NEWperp pfd cnv a	$0	–	-894	–	-0.12%	–
SYY	Exit	SYSCO CORP	$0	–	-24,025	–	-0.12%	–
EXCU	Exit	EXELON CORPunit 99/99/9999	$0	–	-25,320	–	-0.12%	–
CSCO	Exit	CISCO SYS INC	$0	–	-39,760	–	-0.13%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-44,266	–	-0.13%	–
T	Exit	AT&T INC	$0	–	-32,634	–	-0.13%	–
INTC	Exit	INTEL CORP	$0	–	-36,610	–	-0.14%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-14,272	–	-0.15%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-13,819	–	-0.16%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-23,478	–	-0.21%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,986	–	-0.23%	–
TWX	Exit	TIME WARNER INC	$0	–	-153,869	–	-1.23%	–
PEP	Exit	PEPSICO INC	$0	–	-140,914	–	-1.54%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-343,980	–	-1.65%	–
SRCL	Exit	STERICYCLE INC	$0	–	-226,155	–	-1.82%	–
CFX	Exit	COLFAX CORP	$0	–	-598,378	–	-1.89%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-169,950	–	-1.98%	–
BCR	Exit	BARD C R INC	$0	–	-88,969	–	-2.00%	–
FISV	Exit	FISERV INC	$0	–	-223,906	–	-2.24%	–
GWW	Exit	GRAINGER W W INC	$0	–	-107,545	–	-2.43%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-240,497	–	-2.45%	–
OI	Exit	OWENS ILL INC	$0	–	-1,329,380	–	-2.45%	–
DE	Exit	DEERE & CO	$0	–	-287,317	–	-2.46%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-210,030	–	-2.60%	–
C	Exit	CITIGROUP INC	$0	–	-562,903	–	-2.67%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-616,666	–	-2.74%	–
QCOM	Exit	QUALCOMM INC	$0	–	-405,005	–	-2.78%	–
GM	Exit	GENERAL MTRS CO	$0	–	-942,281	–	-3.00%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-540,335	–	-3.22%	–
BAC	Exit	BANK AMER CORP	$0	–	-2,156,691	–	-3.39%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-318,525	–	-3.59%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-869,527	–	-3.83%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-1,000,708	–	-4.00%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-50,758	–	-4.10%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-375,284	–	-4.39%	–
AAPL	Exit	APPLE INC	$0	–	-414,055	–	-4.70%	–
AGN	Exit	ALLERGAN PLC	$0	–	-203,546	–	-4.70%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-908,888	–	-5.25%	–
IGSB	Exit	ISHARES TR1-3 yr cr bd etf	$0	–	-500,446	–	-5.31%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-1,140,341	–	-5.52%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-405,401	–	-5.88%	–

Q3 2016

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$58,568,000	-13.5%	405,401	-13.3%	5.88%	-15.8%
FLS	Sell	FLOWSERVE CORP	$55,010,000	+2.4%	1,140,341	-4.1%	5.52%	-0.3%
IGSB	Buy	ISHARES TR1-3 yr cr bd etf	$52,927,000	+1.9%	500,446	+2.2%	5.31%	-0.8%
MSFT	Sell	MICROSOFT CORP	$52,352,000	+12.3%	908,888	-0.3%	5.25%	+9.2%
AGN	Sell	ALLERGAN PLC	$46,879,000	-3.7%	203,546	-3.4%	4.70%	-6.3%
AAPL	Buy	APPLE INC	$46,809,000	+18.6%	414,055	+0.3%	4.70%	+15.4%
TIP	Buy	ISHARES TRtips bd etf	$43,717,000	+2.7%	375,284	+2.9%	4.39%	-0.0%
GOOGL	Sell	ALPHABET INCcap stk cl a	$40,812,000	+14.2%	50,758	-0.1%	4.10%	+11.2%
BK	Buy	BANK NEW YORK MELLON CORP	$39,908,000	+3.1%	1,000,708	+0.4%	4.00%	+0.4%
MDLZ	Sell	MONDELEZ INTL INCcl a	$38,172,000	-4.0%	869,527	-0.5%	3.83%	-6.6%
AGG	Buy	ISHARES TRcore us aggbd et	$35,809,000	+1.7%	318,525	+1.9%	3.59%	-1.0%
BAC	Sell	BANK AMER CORP	$33,752,000	-28.1%	2,156,691	-39.0%	3.39%	-30.0%
AIG	Buy	AMERICAN INTL GROUP INC	$32,063,000	+12.6%	540,335	+0.4%	3.22%	+9.6%
GM	Buy	GENERAL MTRS CO	$29,936,000	+12.7%	942,281	+0.4%	3.00%	+9.6%
QCOM	Sell	QUALCOMM INC	$27,743,000	+26.1%	405,005	-1.4%	2.78%	+22.7%
WFC	Buy	WELLS FARGO & CO NEW	$27,306,000	+39.9%	616,666	+49.5%	2.74%	+36.2%
C	Sell	CITIGROUP INC	$26,586,000	-18.6%	562,903	-26.9%	2.67%	-20.8%
LQD	Buy	ISHARES TRiboxx inv cp etf	$25,871,000	+1.5%	210,030	+1.1%	2.60%	-1.2%
DE	Buy	DEERE & CO	$24,522,000	+6.6%	287,317	+1.2%	2.46%	+3.8%
OI	Sell	OWENS ILL INC	$24,447,000	-0.3%	1,329,380	-2.4%	2.45%	-3.0%
UTX	Sell	UNITED TECHNOLOGIES CORP	$24,434,000	-1.0%	240,497	-0.1%	2.45%	-3.7%
GWW	Sell	GRAINGER W W INC	$24,180,000	-1.2%	107,545	-0.1%	2.43%	-3.8%
FISV	Sell	FISERV INC	$22,272,000	-9.7%	223,906	-1.3%	2.24%	-12.1%
BCR	Sell	BARD C R INC	$19,954,000	-8.8%	88,969	-4.4%	2.00%	-11.3%
DEO	Sell	DIAGEO P L Cspon adr new	$19,721,000	+2.8%	169,950	-0.0%	1.98%	+0.1%
CFX	Buy	COLFAX CORP	$18,807,000	+19.2%	598,378	+0.4%	1.89%	+16.1%
SRCL	New	STERICYCLE INC	$18,124,000	–	226,155	–	1.82%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$16,411,000	–	343,980	–	1.65%	–
PEP	Buy	PEPSICO INC	$15,327,000	+3.8%	140,914	+1.1%	1.54%	+1.0%
TWX	Buy	TIME WARNER INC	$12,249,000	+10.0%	153,869	+1.6%	1.23%	+7.1%
GOOG	Sell	ALPHABET INCcap stk cl c	$2,321,000	+10.6%	2,986	-1.5%	0.23%	+7.9%
XOM	Buy	EXXON MOBIL CORP	$2,049,000	-0.8%	23,478	+6.5%	0.21%	-3.3%
JNJ	Buy	JOHNSON & JOHNSON	$1,632,000	+4.6%	13,819	+7.4%	0.16%	+1.9%
CVX	Buy	CHEVRON CORP NEW	$1,469,000	+10.4%	14,272	+12.4%	0.15%	+7.3%
INTC	Buy	INTEL CORP	$1,382,000	+24.2%	36,610	+7.9%	0.14%	+20.9%
T	Buy	AT&T INC	$1,325,000	+0.8%	32,634	+7.2%	0.13%	-2.2%
GE	Sell	GENERAL ELECTRIC CO	$1,311,000	-6.1%	44,266	-0.2%	0.13%	-8.3%
CSCO	Buy	CISCO SYS INC	$1,261,000	+25.5%	39,760	+13.6%	0.13%	+22.1%
EXCU	Buy	EXELON CORPunit 99/99/9999	$1,183,000	+7.9%	25,320	+14.0%	0.12%	+5.3%
SYY	Buy	SYSCO CORP	$1,177,000	+4.6%	24,025	+8.4%	0.12%	+1.7%
WFCPRL	Buy	WELLS FARGO & CO NEWperp pfd cnv a	$1,170,000	+22.9%	894	+22.0%	0.12%	+19.4%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$1,139,000	+11.1%	10,415	+9.5%	0.11%	+7.5%
PG	Sell	PROCTER AND GAMBLE CO	$1,093,000	+2.5%	12,174	-3.3%	0.11%	0.0%
BXMT	Buy	BLACKSTONE MTG TR INC	$1,091,000	+27.2%	37,040	+19.4%	0.11%	+23.9%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$1,075,000	+24.7%	6,770	+19.2%	0.11%	+21.3%
PAYX	Buy	PAYCHEX INC	$1,022,000	+9.4%	17,660	+12.4%	0.10%	+7.3%
VZ	Buy	VERIZON COMMUNICATIONS INC	$1,017,000	+14.1%	19,565	+22.7%	0.10%	+10.9%
KMB	Buy	KIMBERLY CLARK CORP	$976,000	+18.2%	7,735	+28.7%	0.10%	+15.3%
EMR	Buy	EMERSON ELEC CO	$957,000	+19.3%	17,565	+14.3%	0.10%	+15.7%
ED	Buy	CONSOLIDATED EDISON INC	$922,000	+8.9%	12,240	+16.3%	0.09%	+6.9%
CAT	Buy	CATERPILLAR INC DEL	$916,000	+36.5%	10,320	+16.6%	0.09%	+33.3%
BAX	Buy	BAXTER INTL INC	$883,000	+20.1%	18,545	+14.2%	0.09%	+17.1%
HST	Buy	HOST HOTELS & RESORTS INC	$820,000	+13.7%	52,686	+18.5%	0.08%	+10.8%
MAT	Buy	MATTEL INC	$774,000	+10.7%	25,570	+14.4%	0.08%	+8.3%
MCD	Buy	MCDONALDS CORP	$730,000	+14.4%	6,325	+19.2%	0.07%	+10.6%
DOW	Buy	DOW CHEM CO	$722,000	+25.8%	13,930	+20.6%	0.07%	+22.0%
FDX	Sell	FEDEX CORP	$710,000	-97.3%	4,062	-97.6%	0.07%	-97.3%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$697,000	+11.9%	16,155	+12.3%	0.07%	+9.4%
UNP	Buy	UNION PAC CORP	$684,000	+11.8%	7,013	+0.0%	0.07%	+9.5%
MCK	Buy	MCKESSON CORP	$680,000	+4.5%	4,080	+16.9%	0.07%	+1.5%
ABC	Buy	AMERISOURCEBERGEN CORP	$664,000	+19.4%	8,215	+17.2%	0.07%	+17.5%
MTB	Buy	M & T BK CORP	$670,000	+18.6%	5,775	+20.8%	0.07%	+15.5%
KO	Sell	COCA COLA CO	$656,000	-8.0%	15,491	-1.5%	0.07%	-10.8%
LOW	Sell	LOWES COS INC	$599,000	-9.2%	8,300	-0.4%	0.06%	-11.8%
SO	Buy	SOUTHERN CO	$473,000	+5.6%	9,220	+10.4%	0.05%	+2.2%
HD	Buy	HOME DEPOT INC	$435,000	+5.6%	3,378	+4.6%	0.04%	+4.8%
ESS	Buy	ESSEX PPTY TR INC	$390,000	+6.8%	1,750	+9.4%	0.04%	+2.6%
MDT	Buy	MEDTRONIC PLC	$337,000	+8.0%	3,897	+8.2%	0.03%	+6.2%
V	New	VISA INC	$330,000	–	3,990	–	0.03%	–
MMM	Sell	3M CO	$312,000	0.0%	1,768	-0.7%	0.03%	-3.1%
SLB	Sell	SCHLUMBERGER LTD	$286,000	-17.3%	3,632	-17.0%	0.03%	-19.4%
KBWY	New	POWERSHARES ETF TRUST IIkbw yield reit	$225,000	–	6,286	–	0.02%	–
PFE	New	PFIZER INC	$225,000	–	6,647	–	0.02%	–
CHL	Sell	CHINA MOBILE LIMITEDsponsored adr	$220,000	-17.0%	3,575	-21.9%	0.02%	-18.5%
EPD	Sell	ENTERPRISE PRODS PARTNERS L	$210,000	-6.2%	7,600	-0.7%	0.02%	-8.7%
HAL	Exit	HALLIBURTON CO	$0	–	-5,480	–	-0.03%	–
VTR	Exit	VENTAS INC	$0	–	-3,618	–	-0.03%	–
ETN	Exit	EATON CORP PLC	$0	–	-10,400	–	-0.06%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$67,705,000	–	467,611	–	6.98%	–
FLS	New	FLOWSERVE CORP	$53,696,000	–	1,188,749	–	5.54%	–
IGSB	New	ISHARES TR1-3 yr cr bd etf	$51,927,000	–	489,460	–	5.35%	–
AGN	New	ALLERGAN PLC	$48,684,000	–	210,673	–	5.02%	–
BAC	New	BANK AMER CORP	$46,947,000	–	3,537,830	–	4.84%	–
MSFT	New	MICROSOFT CORP	$46,637,000	–	911,413	–	4.81%	–
TIP	New	ISHARES TRtips bd etf	$42,552,000	–	364,718	–	4.39%	–
MDLZ	New	MONDELEZ INTL INCcl a	$39,761,000	–	873,670	–	4.10%	–
AAPL	New	APPLE INC	$39,468,000	–	412,844	–	4.07%	–
BK	New	BANK NEW YORK MELLON CORP	$38,706,000	–	996,294	–	3.99%	–
GOOGL	New	ALPHABET INCcap stk cl a	$35,735,000	–	50,794	–	3.68%	–
AGG	New	ISHARES TRcore us aggbd et	$35,218,000	–	312,732	–	3.63%	–
C	New	CITIGROUP INC	$32,654,000	–	770,325	–	3.37%	–
AIG	New	AMERICAN INTL GROUP INC	$28,466,000	–	538,208	–	2.93%	–
GM	New	GENERAL MTRS CO	$26,572,000	–	938,945	–	2.74%	–
FDX	New	FEDEX CORP	$25,984,000	–	171,196	–	2.68%	–
LQD	New	ISHARES TRiboxx inv cp etf	$25,487,000	–	207,661	–	2.63%	–
UTX	New	UNITED TECHNOLOGIES CORP	$24,683,000	–	240,688	–	2.54%	–
FISV	New	FISERV INC	$24,655,000	–	226,755	–	2.54%	–
OI	New	OWENS ILL INC	$24,521,000	–	1,361,499	–	2.53%	–
GWW	New	GRAINGER W W INC	$24,470,000	–	107,678	–	2.52%	–
DE	New	DEERE & CO	$22,999,000	–	283,797	–	2.37%	–
QCOM	New	QUALCOMM INC	$22,007,000	–	410,808	–	2.27%	–
BCR	New	BARD C R INC	$21,886,000	–	93,068	–	2.26%	–
WFC	New	WELLS FARGO & CO NEW	$19,521,000	–	412,454	–	2.01%	–
DEO	New	DIAGEO P L Cspon adr new	$19,185,000	–	169,959	–	1.98%	–
CFX	New	COLFAX CORP	$15,773,000	–	596,115	–	1.63%	–
PEP	New	PEPSICO INC	$14,771,000	–	139,425	–	1.52%	–
TWX	New	TIME WARNER INC	$11,134,000	–	151,405	–	1.15%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,098,000	–	3,031	–	0.22%	–
XOM	New	EXXON MOBIL CORP	$2,066,000	–	22,037	–	0.21%	–
JNJ	New	JOHNSON & JOHNSON	$1,560,000	–	12,864	–	0.16%	–
GE	New	GENERAL ELECTRIC CO	$1,396,000	–	44,343	–	0.14%	–
CVX	New	CHEVRON CORP NEW	$1,331,000	–	12,698	–	0.14%	–
T	New	AT&T INC	$1,315,000	–	30,444	–	0.14%	–
SYY	New	SYSCO CORP	$1,125,000	–	22,170	–	0.12%	–
INTC	New	INTEL CORP	$1,113,000	–	33,945	–	0.12%	–
EXCU	New	EXELON CORPunit 99/99/9999	$1,096,000	–	22,215	–	0.11%	–
PG	New	PROCTER & GAMBLE CO	$1,066,000	–	12,592	–	0.11%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,025,000	–	9,515	–	0.11%	–
CSCO	New	CISCO SYS INC	$1,005,000	–	35,014	–	0.10%	–
WFCPRL	New	WELLS FARGO & CO NEWperp pfd cnv a	$952,000	–	733	–	0.10%	–
PAYX	New	PAYCHEX INC	$934,000	–	15,705	–	0.10%	–
VZ	New	VERIZON COMMUNICATIONS INC	$891,000	–	15,948	–	0.09%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$862,000	–	5,681	–	0.09%	–
BXMT	New	BLACKSTONE MTG TR INC	$858,000	–	31,015	–	0.09%	–
ED	New	CONSOLIDATED EDISON INC	$847,000	–	10,525	–	0.09%	–
KMB	New	KIMBERLY CLARK CORP	$826,000	–	6,010	–	0.08%	–
EMR	New	EMERSON ELEC CO	$802,000	–	15,369	–	0.08%	–
BAX	New	BAXTER INTL INC	$735,000	–	16,245	–	0.08%	–
HST	New	HOST HOTELS & RESORTS INC	$721,000	–	44,476	–	0.07%	–
KO	New	COCA COLA CO	$713,000	–	15,732	–	0.07%	–
MAT	New	MATTEL INC	$699,000	–	22,355	–	0.07%	–
CAT	New	CATERPILLAR INC DEL	$671,000	–	8,850	–	0.07%	–
LOW	New	LOWES COS INC	$660,000	–	8,337	–	0.07%	–
MCK	New	MCKESSON CORP	$651,000	–	3,490	–	0.07%	–
CB	New	CHUBB LIMITED	$638,000	–	4,878	–	0.07%	–
MCD	New	MCDONALDS CORP	$638,000	–	5,305	–	0.07%	–
ETN	New	EATON CORP PLC	$621,000	–	10,400	–	0.06%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$623,000	–	14,380	–	0.06%	–
UNP	New	UNION PAC CORP	$612,000	–	7,010	–	0.06%	–
DOW	New	DOW CHEM CO	$574,000	–	11,550	–	0.06%	–
MTB	New	M & T BK CORP	$565,000	–	4,780	–	0.06%	–
ABC	New	AMERISOURCEBERGEN CORP	$556,000	–	7,010	–	0.06%	–
EOG	New	EOG RES INC	$501,000	–	6,000	–	0.05%	–
SO	New	SOUTHERN CO	$448,000	–	8,350	–	0.05%	–
HD	New	HOME DEPOT INC	$412,000	–	3,228	–	0.04%	–
LLY	New	LILLY ELI & CO	$381,000	–	4,836	–	0.04%	–
ESS	New	ESSEX PPTY TR INC	$365,000	–	1,599	–	0.04%	–
SLB	New	SCHLUMBERGER LTD	$346,000	–	4,378	–	0.04%	–
MDT	New	MEDTRONIC PLC	$312,000	–	3,600	–	0.03%	–
MMM	New	3M CO	$312,000	–	1,780	–	0.03%	–
DIS	New	DISNEY WALT CO	$303,000	–	3,099	–	0.03%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$275,000	–	5,475	–	0.03%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$274,000	–	3,730	–	0.03%	–
VTR	New	VENTAS INC	$263,000	–	3,618	–	0.03%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$265,000	–	4,575	–	0.03%	–
BOH	New	BANK HAWAII CORP	$248,000	–	3,600	–	0.03%	–
HAL	New	HALLIBURTON CO	$248,000	–	5,480	–	0.03%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$224,000	–	7,652	–	0.02%	–
AMZN	New	AMAZON COM INC	$222,000	–	310	–	0.02%	–

Q4 2015

			Value		Shares		↓ Weighting
BOH	Exit	BANK HAWAII CORP	$0	–	-3,300	–	-0.02%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-3,575	–	-0.02%	–
UN	Exit	UNILEVER N V	$0	–	-5,500	–	-0.03%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-3,730	–	-0.03%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-5,085	–	-0.03%	–
ED	Exit	CONSOLIDATED EDISON INC	$0	–	-3,515	–	-0.03%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,135	–	-0.03%	–
MDT	Exit	MEDTRONIC INC	$0	–	-3,600	–	-0.03%	–
MMM	Exit	3M CO	$0	–	-1,784	–	-0.03%	–
DIS	Exit	DISNEY WALT CO	$0	–	-2,569	–	-0.03%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-6,805	–	-0.03%	–
EXCU	Exit	EXELON CORPunit 99/99/9999	$0	–	-7,650	–	-0.04%	–
PAYX	Exit	PAYCHEX INC	$0	–	-7,530	–	-0.04%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-8,344	–	-0.04%	–
USBPRNCL	Exit	U.S. BANCORP PFD. SER. G	$0	–	-15,092	–	-0.05%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-7,282	–	-0.05%	–
EOG	Exit	EOG RES INC	$0	–	-6,000	–	-0.05%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-3,070	–	-0.05%	–
LLY	Exit	LILLY ELI & CO	$0	–	-5,636	–	-0.06%	–
SYY	Exit	SYSCO CORP	$0	–	-12,780	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-17,618	–	-0.06%	–
SPG	Exit	SIMON PPTY GROUP INC NEW	$0	–	-2,895	–	-0.06%	–
SO	Exit	SOUTHERN CO	$0	–	-12,650	–	-0.06%	–
LOW	Exit	LOWES COS INC	$0	–	-8,300	–	-0.07%	–
CSCO	Exit	CISCO SYS INC	$0	–	-23,040	–	-0.07%	–
T	Exit	AT&T INC	$0	–	-18,877	–	-0.07%	–
UNP	Exit	UNION PAC CORP	$0	–	-7,002	–	-0.07%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-7,838	–	-0.07%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-3,149	–	-0.08%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-9,220	–	-0.10%	–
CB	Exit	CHUBB CORP	$0	–	-8,105	–	-0.12%	–
HD	Exit	HOME DEPOT INC	$0	–	-8,793	–	-0.12%	–
KO	Exit	COCA COLA CO	$0	–	-27,084	–	-0.13%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-13,805	–	-0.16%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-20,704	–	-0.18%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-73,707	–	-0.59%	–
HAL	Exit	HALLIBURTON CO	$0	–	-156,635	–	-0.64%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-103,244	–	-1.06%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-15,557	–	-1.10%	–
TWX	Exit	TIME WARNER INC	$0	–	-141,045	–	-1.12%	–
EBAY	Exit	EBAY INC	$0	–	-470,447	–	-1.33%	–
PEP	Exit	PEPSICO INC	$0	–	-133,027	–	-1.45%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-200,922	–	-1.64%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-466,644	–	-1.68%	–
FDX	Exit	FEDEX CORP	$0	–	-106,039	–	-1.77%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-163,862	–	-2.04%	–
BCR	Exit	BARD C R INC	$0	–	-101,248	–	-2.18%	–
DE	Exit	DEERE & CO	$0	–	-260,658	–	-2.23%	–
OI	Exit	OWENS ILL INC	$0	–	-936,582	–	-2.25%	–
FISV	Exit	FISERV INC	$0	–	-232,838	–	-2.34%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-396,696	–	-2.36%	–
GWW	Exit	GRAINGER W W INC	$0	–	-102,975	–	-2.56%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-195,823	–	-2.63%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-317,760	–	-2.65%	–
AAPL	Exit	APPLE INC	$0	–	-223,002	–	-2.85%	–
GM	Exit	GENERAL MTRS CO	$0	–	-902,197	–	-3.14%	–
QCOM	Exit	QUALCOMM INC	$0	–	-539,296	–	-3.36%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-513,216	–	-3.38%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-719,492	–	-3.43%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-1,245,098	–	-3.64%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-768,920	–	-3.73%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-299,616	–	-3.80%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-54,817	–	-4.05%	–
C	Exit	CITIGROUP INC	$0	–	-725,587	–	-4.17%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-845,880	–	-4.33%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-290,916	–	-4.39%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-970,735	–	-4.40%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-355,288	–	-4.55%	–
BAC	Exit	BANK AMER CORP	$0	–	-2,847,500	–	-5.14%	–
IGSB	Exit	ISHARES TR1-3 yr cr bd etf	$0	–	-484,322	–	-5.90%	–

Q3 2015

			Value		Shares		↓ Weighting
IGSB	Buy	ISHARES TR1-3 yr cr bd etf	$50,917,000	+5.4%	484,322	+5.6%	5.90%	+7.0%
BAC	Buy	BANK AMER CORP	$44,364,000	-8.2%	2,847,500	+0.2%	5.14%	-6.8%
TIP	Buy	ISHARES TRtips bd etf	$39,327,000	-0.5%	355,288	+0.6%	4.55%	+1.0%
BK	Buy	BANK NEW YORK MELLON CORP	$38,004,000	-5.9%	970,735	+0.8%	4.40%	-4.5%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$37,935,000	+1.2%	290,916	+5.6%	4.39%	+2.7%
MSFT	Buy	MICROSOFT CORP	$37,439,000	+1.9%	845,880	+1.6%	4.33%	+3.4%
C	Buy	CITIGROUP INC	$35,996,000	-9.6%	725,587	+0.6%	4.17%	-8.2%
GOOGL	Buy	GOOGLE INCcl a	$34,994,000	+18.5%	54,817	+0.2%	4.05%	+20.2%
AGG	Buy	ISHARES TRcore us aggbd et	$32,832,000	+1.5%	299,616	+0.8%	3.80%	+3.1%
MDLZ	Buy	MONDELEZ INTL INCcl a	$32,195,000	+74.8%	768,920	+71.8%	3.73%	+77.5%
GE	Buy	GENERAL ELECTRIC CO	$31,401,000	-2.8%	1,245,098	+2.4%	3.64%	-1.3%
FLS	Buy	FLOWSERVE CORP	$29,600,000	+4.6%	719,492	+33.9%	3.43%	+6.2%
AIG	Sell	AMERICAN INTL GROUP INC	$29,161,000	-27.5%	513,216	-21.1%	3.38%	-26.4%
QCOM	Buy	QUALCOMM INC	$28,976,000	+4.2%	539,296	+21.4%	3.36%	+5.8%
GM	Buy	GENERAL MTRS CO	$27,084,000	+5.7%	902,197	+17.4%	3.14%	+7.4%
AAPL	Sell	APPLE INC	$24,597,000	-12.0%	223,002	-0.0%	2.85%	-10.7%
PG	Buy	PROCTER & GAMBLE CO	$22,860,000	+2521.6%	317,760	+2751.4%	2.65%	+2573.7%
LQD	Buy	ISHARES TRiboxx inv cp etf	$22,733,000	+2.1%	195,823	+1.8%	2.63%	+3.7%
GWW	Buy	GRAINGER W W INC	$22,141,000	-8.1%	102,975	+1.1%	2.56%	-6.7%
WFC	Buy	WELLS FARGO & CO NEW	$20,370,000	-8.3%	396,696	+0.4%	2.36%	-6.9%
FISV	Sell	FISERV INC	$20,166,000	-32.0%	232,838	-35.0%	2.34%	-30.9%
OI	Buy	OWENS ILL INC	$19,406,000	-5.4%	936,582	+4.7%	2.25%	-3.9%
DE	Buy	DEERE & CO	$19,289,000	-22.4%	260,658	+1.8%	2.23%	-21.2%
BCR	Sell	BARD C R INC	$18,864,000	+8.0%	101,248	-1.1%	2.18%	+9.7%
DEO	Buy	DIAGEO P L Cspon adr new	$17,663,000	-4.9%	163,862	+2.3%	2.04%	-3.4%
FDX	Buy	FEDEX CORP	$15,267,000	-14.9%	106,039	+0.7%	1.77%	-13.6%
PYPL	New	PAYPAL HLDGS INC	$14,485,000	–	466,644	–	1.68%	–
KHC	New	KRAFT HEINZ CO	$14,181,000	–	200,922	–	1.64%	–
PEP	Buy	PEPSICO INC	$12,544,000	+2.5%	133,027	+1.4%	1.45%	+4.0%
EBAY	Buy	EBAY INC	$11,498,000	-58.9%	470,447	+1.2%	1.33%	-58.3%
TWX	New	TIME WARNER INC	$9,697,000	–	141,045	–	1.12%	–
GOOG	Sell	GOOGLE INCcl c	$9,465,000	+11.4%	15,557	-4.8%	1.10%	+13.1%
UTX	Buy	UNITED TECHNOLOGIES CORP	$9,188,000	-15.9%	103,244	+4.8%	1.06%	-14.6%
HAL	New	HALLIBURTON CO	$5,537,000	–	156,635	–	0.64%	–
SLB	Buy	SCHLUMBERGER LTD	$5,084,000	+1833.1%	73,707	+2311.1%	0.59%	+1863.3%
XOM	Buy	EXXON MOBIL CORP	$1,539,000	-7.6%	20,704	+3.5%	0.18%	-6.3%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$1,362,000	+6.1%	13,805	+4.2%	0.16%	+8.2%
KO	Sell	COCA COLA CO	$1,087,000	-95.1%	27,084	-95.2%	0.13%	-95.0%
HD	Buy	HOME DEPOT INC	$1,016,000	+32.5%	8,793	+27.4%	0.12%	+35.6%
CB	Sell	CHUBB CORP	$994,000	+28.6%	8,105	-0.2%	0.12%	+30.7%
JNJ	Buy	JOHNSON & JOHNSON	$861,000	+9.5%	9,220	+14.4%	0.10%	+11.1%
CVX	Buy	CHEVRON CORP NEW	$618,000	-11.1%	7,838	+8.8%	0.07%	-8.9%
UNP	Buy	UNION PAC CORP	$619,000	-7.3%	7,002	+0.0%	0.07%	-5.3%
T	Buy	AT&T INC	$615,000	+37.9%	18,877	+50.3%	0.07%	+39.2%
CSCO	Buy	CISCO SYS INC	$605,000	+4.9%	23,040	+9.6%	0.07%	+6.1%
INTC	Buy	INTEL CORP	$531,000	+11.3%	17,618	+11.6%	0.06%	+13.0%
SYY	Buy	SYSCO CORP	$498,000	+22.4%	12,780	+13.4%	0.06%	+26.1%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$445,000	+6.7%	3,070	+19.8%	0.05%	+8.3%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDadr	$411,000	-37.5%	7,282	-35.3%	0.05%	-36.0%
USBPRNCL	Buy	U.S. BANCORP PFD. SER. G	$397,000	+13.8%	15,092	+15.0%	0.05%	+15.0%
VZ	Buy	VERIZON COMMUNICATIONS INC	$363,000	+11.3%	8,344	+19.4%	0.04%	+13.5%
PAYX	Buy	PAYCHEX INC	$359,000	+20.9%	7,530	+18.9%	0.04%	+23.5%
EXCU	New	EXELON CORPunit 99/99/9999	$334,000	–	7,650	–	0.04%	–
DIS	Buy	DISNEY WALT CO	$263,000	+1.5%	2,569	+13.2%	0.03%	0.0%
NOV	Sell	NATIONAL OILWELL VARCO INC	$256,000	-98.3%	6,805	-97.8%	0.03%	-98.2%
MDT	New	MEDTRONIC INC	$241,000	–	3,600	–	0.03%	–
KMB	New	KIMBERLY CLARK CORP	$233,000	–	2,135	–	0.03%	–
ED	New	CONSOLIDATED EDISON INC	$235,000	–	3,515	–	0.03%	–
EMR	Sell	EMERSON ELEC CO	$225,000	-25.5%	5,085	-6.8%	0.03%	-23.5%
BP	Exit	BP PLCsponsored adr	$0	–	-5,980	–	-0.03%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-3,600	–	-0.03%	–
BXMT	Exit	BLACKSTONE MTG TR INC	$0	–	-13,355	–	-0.04%	–
TWX	Exit	TIME WARNER INC	$0	–	-136,110	–	-1.36%	–

Q2 2015

			Value		Shares		↓ Weighting
BAC	New	BANK AMER CORP	$48,330,000	–	2,840,828	–	5.51%	–
IGSB	New	ISHARES1-3 yr cr bd etf	$48,313,000	–	458,682	–	5.51%	–
BK	New	BANK NEW YORK MELLON CORP	$40,397,000	–	962,943	–	4.61%	–
AIG	New	AMERICAN INTL GROUP INC	$40,208,000	–	650,701	–	4.58%	–
C	New	CITIGROUP INC	$39,821,000	–	721,182	–	4.54%	–
TIP	New	ISHARES TRtips bd etf	$39,531,000	–	353,027	–	4.51%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$37,494,000	–	275,586	–	4.28%	–
MSFT	New	MICROSOFT CORP	$36,753,000	–	832,874	–	4.19%	–
AGG	New	ISHARES TRcore us aggbd et	$32,331,000	–	297,214	–	3.69%	–
GE	New	GENERAL ELECTRIC CO	$32,297,000	–	1,216,062	–	3.68%	–
FISV	New	FISERV INC	$29,636,000	–	357,966	–	3.38%	–
GOOGL	New	GOOGLE INCcl a	$29,539,000	–	54,722	–	3.37%	–
FLS	New	FLOWSERVE CORP	$28,291,000	–	537,474	–	3.23%	–
EBAY	New	EBAY INC	$27,994,000	–	464,904	–	3.19%	–
AAPL	New	APPLE INC	$27,962,000	–	223,044	–	3.19%	–
QCOM	New	QUALCOMM INC	$27,804,000	–	444,139	–	3.17%	–
GM	New	GENERAL MTRS CO	$25,613,000	–	768,805	–	2.92%	–
DE	New	DEERE & CO	$24,845,000	–	256,109	–	2.83%	–
GWW	New	GRAINGER W W INC	$24,085,000	–	101,820	–	2.75%	–
KO	New	COCA COLA CO	$22,275,000	–	568,088	–	2.54%	–
LQD	New	ISHARES TRiboxx inv cp etf	$22,268,000	–	192,434	–	2.54%	–
WFC	New	WELLS FARGO & CO NEW	$22,221,000	–	395,291	–	2.53%	–
OI	New	OWENS ILL INC	$20,505,000	–	894,250	–	2.34%	–
DEO	New	DIAGEO P L Cspon adr new	$18,572,000	–	160,107	–	2.12%	–
MDLZ	New	MONDELEZ INTL INCcl a	$18,413,000	–	447,575	–	2.10%	–
FDX	New	FEDEX CORP	$17,934,000	–	105,298	–	2.04%	–
BCR	New	BARD C R INC	$17,461,000	–	102,338	–	1.99%	–
NOV	New	NATIONAL OILWELL VARCO INC	$14,819,000	–	307,057	–	1.69%	–
PEP	New	PEPSICO INC	$12,240,000	–	131,184	–	1.40%	–
TWX	New	TIME WARNER INC	$11,897,000	–	136,110	–	1.36%	–
UTX	New	UNITED TECHNOLOGIES CORP	$10,924,000	–	98,519	–	1.25%	–
GOOG	New	GOOGLE INCcl c	$8,500,000	–	16,336	–	0.97%	–
XOM	New	EXXON MOBIL CORP	$1,665,000	–	20,009	–	0.19%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,284,000	–	13,245	–	0.15%	–
PG	New	PROCTER & GAMBLE CO	$872,000	–	11,144	–	0.10%	–
JNJ	New	JOHNSON & JOHNSON	$786,000	–	8,060	–	0.09%	–
CB	New	CHUBB CORP	$773,000	–	8,125	–	0.09%	–
HD	New	HOME DEPOT INC	$767,000	–	6,901	–	0.09%	–
CVX	New	CHEVRON CORP NEW	$695,000	–	7,201	–	0.08%	–
UNP	New	UNION PAC CORP	$668,000	–	7,000	–	0.08%	–
ESS	New	ESSEX PPTY TR INC	$669,000	–	3,149	–	0.08%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$658,000	–	11,247	–	0.08%	–
CSCO	New	CISCO SYS INC	$577,000	–	21,020	–	0.07%	–
LOW	New	LOWES COS INC	$556,000	–	8,300	–	0.06%	–
EOG	New	EOG RES INC	$525,000	–	6,000	–	0.06%	–
SO	New	SOUTHERN CO	$530,000	–	12,650	–	0.06%	–
SPG	New	SIMON PPTY GROUP INC NEW	$501,000	–	2,895	–	0.06%	–
LLY	New	LILLY ELI & CO	$471,000	–	5,636	–	0.05%	–
INTC	New	INTEL CORP	$477,000	–	15,793	–	0.05%	–
T	New	AT&T INC	$446,000	–	12,560	–	0.05%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$417,000	–	2,563	–	0.05%	–
SYY	New	SYSCO CORP	$407,000	–	11,270	–	0.05%	–
BXMT	New	BLACKSTONE MTG TR INC	$372,000	–	13,355	–	0.04%	–
USBPRNCL	New	U.S. BANCORP PFD. SER. G	$349,000	–	13,122	–	0.04%	–
VZ	New	VERIZON COMMUNICATIONS INC	$326,000	–	6,991	–	0.04%	–
EMR	New	EMERSON ELEC CO	$302,000	–	5,455	–	0.03%	–
PAYX	New	PAYCHEX INC	$297,000	–	6,335	–	0.03%	–
MMM	New	3M CO	$275,000	–	1,784	–	0.03%	–
MDT	New	MEDTRONIC PLC	$267,000	–	3,600	–	0.03%	–
DIS	New	DISNEY WALT CO	$259,000	–	2,269	–	0.03%	–
SLB	New	SCHLUMBERGER LTD	$263,000	–	3,057	–	0.03%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$248,000	–	3,730	–	0.03%	–
BP	New	BP PLCsponsored adr	$239,000	–	5,980	–	0.03%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$229,000	–	3,575	–	0.03%	–
UN	New	UNILEVER N V	$230,000	–	5,500	–	0.03%	–
BOH	New	BANK HAWAII CORP	$220,000	–	3,300	–	0.02%	–

Q4 2014

			Value		Shares		↓ Weighting
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-3,575	–	-0.03%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-2,752	–	-0.03%	–
PAYX	Exit	PAYCHEX INC	$0	–	-5,000	–	-0.03%	–
MDT	Exit	MEDTRONIC INC	$0	–	-3,600	–	-0.03%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,056	–	-0.03%	–
DIS	Exit	DISNEY WALT CO	$0	–	-2,684	–	-0.03%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-4,649	–	-0.03%	–
UN	Exit	UNILEVER N V	$0	–	-6,375	–	-0.03%	–
MMM	Exit	3M CO	$0	–	-1,812	–	-0.03%	–
DMLP	Exit	DORCHESTER MINERALS LP	$0	–	-9,200	–	-0.03%	–
BXMT	Exit	BLACKSTONE MTG TR INC	$0	–	-10,090	–	-0.03%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,000	–	-0.04%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,886	–	-0.04%	–
BP	Exit	BP PLCsponsored adr	$0	–	-7,620	–	-0.04%	–
SYY	Exit	SYSCO CORP	$0	–	-9,410	–	-0.04%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-5,798	–	-0.04%	–
T	Exit	AT&T INC	$0	–	-11,729	–	-0.05%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-8,603	–	-0.05%	–
LOW	Exit	LOWES COS INC	$0	–	-8,431	–	-0.06%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,550	–	-0.06%	–
SPG	Exit	SIMON PPTY GROUP INC NEW	$0	–	-2,922	–	-0.06%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-3,267	–	-0.07%	–
SO	Exit	SOUTHERN CO	$0	–	-13,450	–	-0.07%	–
INTC	Exit	INTEL CORP	$0	–	-17,039	–	-0.07%	–
EOG	Exit	EOG RES INC	$0	–	-6,000	–	-0.07%	–
HD	Exit	HOME DEPOT INC	$0	–	-7,310	–	-0.08%	–
CB	Exit	CHUBB CORP	$0	–	-8,300	–	-0.09%	–
UNP	Exit	UNION PAC CORP	$0	–	-7,826	–	-0.10%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-11,220	–	-0.12%	–
HBI	Exit	HANESBRANDS INC	$0	–	-9,244	–	-0.12%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-8,953	–	-0.13%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-21,343	–	-0.25%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-93,329	–	-1.22%	–
DE	Exit	DEERE & CO	$0	–	-126,174	–	-1.28%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-19,855	–	-1.42%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-124,531	–	-1.52%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-109,971	–	-1.80%	–
BCR	Exit	BARD C R INC	$0	–	-101,629	–	-1.80%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-139,952	–	-2.00%	–
HSP	Exit	HOSPIRA INC	$0	–	-328,367	–	-2.12%	–
FDX	Exit	FEDEX CORP	$0	–	-110,081	–	-2.20%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-33,833	–	-2.47%	–
QCOM	Exit	QUALCOMM INC	$0	–	-266,227	–	-2.47%	–
GM	Exit	GENERAL MTRS CO	$0	–	-624,232	–	-2.47%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-169,824	–	-2.49%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-269,848	–	-2.55%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-399,223	–	-2.57%	–
EBAY	Exit	EBAY INC	$0	–	-383,063	–	-2.69%	–
CSCO	Exit	CISCO SYS INC	$0	–	-875,459	–	-2.73%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-409,265	–	-2.74%	–
KO	Exit	COCA COLA CO	$0	–	-535,430	–	-2.83%	–
AAPL	Exit	APPLE INC	$0	–	-229,637	–	-2.87%	–
PEP	Exit	PEPSICO INC	$0	–	-249,658	–	-2.88%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-341,682	–	-2.89%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-442,826	–	-2.95%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-231,445	–	-3.06%	–
FISV	Exit	FISERV INC	$0	–	-391,185	–	-3.13%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-1,115,532	–	-3.54%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-273,614	–	-3.70%	–
C	Exit	CITIGROUP INC	$0	–	-588,635	–	-3.78%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-838,016	–	-4.02%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-244,627	–	-4.19%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-732,191	–	-4.21%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-327,732	–	-4.55%	–
IGSB	Exit	ISHARES1-3 yr cr bd etf	$0	–	-411,167	–	-5.37%	–
BAC	Exit	BANK AMER CORP	$0	–	-2,595,057	–	-5.48%	–

Q3 2014

			Value		Shares		↓ Weighting
BAC	Buy	BANK AMER CORP	$44,246,000	+13.9%	2,595,057	+2.7%	5.48%	+11.0%
IGSB	Buy	ISHARES1-3 yr cr bd etf	$43,288,000	+3.5%	411,167	+3.9%	5.37%	+0.8%
TIP	Buy	ISHARES TRtips bd etf	$36,729,000	+1.1%	327,732	+4.1%	4.55%	-1.5%
MSFT	Buy	MICROSOFT CORP	$33,944,000	+12.8%	732,191	+1.4%	4.21%	+9.8%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$33,793,000	+9.7%	244,627	+0.5%	4.19%	+6.8%
BK	Sell	BANK NEW YORK MELLON CORP	$32,456,000	+3.1%	838,016	-0.2%	4.02%	+0.5%
C	Buy	CITIGROUP INC	$30,503,000	+49.8%	588,635	+36.1%	3.78%	+45.9%
AGG	Buy	ISHARES TRcore us aggbd et	$29,854,000	+3.1%	273,614	+3.4%	3.70%	+0.5%
GE	Buy	GENERAL ELECTRIC CO	$28,580,000	+0.3%	1,115,532	+2.9%	3.54%	-2.3%
FISV	Buy	FISERV INC	$25,284,000	+7.2%	391,185	+0.0%	3.13%	+4.4%
JNJ	Buy	JOHNSON & JOHNSON	$24,670,000	+3.4%	231,445	+1.4%	3.06%	+0.7%
TEVA	Buy	TEVA PHARMACEUTICAL INDS LTDadr	$23,802,000	+2.9%	442,826	+0.4%	2.95%	+0.2%
DVN	Sell	DEVON ENERGY CORP NEW	$23,296,000	-18.2%	341,682	-4.7%	2.89%	-20.3%
PEP	Buy	PEPSICO INC	$23,241,000	+8.9%	249,658	+4.6%	2.88%	+6.1%
AAPL	Sell	APPLE INC	$23,136,000	-4.5%	229,637	-11.9%	2.87%	-7.0%
KO	Buy	COCA COLA CO	$22,841,000	+3.4%	535,430	+2.6%	2.83%	+0.7%
AIG	Buy	AMERICAN INTL GROUP INC	$22,109,000	+1.1%	409,265	+2.1%	2.74%	-1.5%
CSCO	Buy	CISCO SYS INC	$22,035,000	+3.8%	875,459	+2.5%	2.73%	+1.1%
EBAY	Buy	EBAY INC	$21,693,000	+17.9%	383,063	+4.2%	2.69%	+14.8%
WFC	Buy	WELLS FARGO & CO NEW	$20,708,000	-0.6%	399,223	+0.7%	2.57%	-3.1%
NOV	Sell	NATIONAL OILWELL VARCO INC	$20,535,000	-17.3%	269,848	-10.5%	2.55%	-19.5%
LQD	Buy	ISHARES TRiboxx inv cp etf	$20,077,000	+2.5%	169,824	+3.4%	2.49%	-0.1%
GM	Buy	GENERAL MTRS CO	$19,938,000	-10.2%	624,232	+2.1%	2.47%	-12.5%
QCOM	Sell	QUALCOMM INC	$19,906,000	-5.8%	266,227	-0.2%	2.47%	-8.2%
GOOGL	Buy	GOOGLE INCcl a	$19,908,000	+4.7%	33,833	+4.0%	2.47%	+2.0%
FDX	Sell	FEDEX CORP	$17,773,000	+5.6%	110,081	-1.0%	2.20%	+2.8%
HSP	Buy	HOSPIRA INC	$17,085,000	+2.0%	328,367	+0.7%	2.12%	-0.7%
DEO	Buy	DIAGEO P L Cspon adr new	$16,150,000	-6.1%	139,952	+3.6%	2.00%	-8.5%
BCR	Buy	BARD C R INC	$14,503,000	+2.6%	101,629	+2.9%	1.80%	0.0%
NOC	Buy	NORTHROP GRUMMAN CORP	$14,490,000	+12.1%	109,971	+1.8%	1.80%	+9.2%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$12,240,000	-2.2%	124,531	+2.2%	1.52%	-4.7%
GOOG	Sell	GOOGLE INCcl c	$11,463,000	-1.7%	19,855	-2.1%	1.42%	-4.2%
DE	New	DEERE & CO	$10,345,000	–	126,174	–	1.28%	–
UTX	Buy	UNITED TECHNOLOGIES CORP	$9,856,000	-5.9%	93,329	+2.8%	1.22%	-8.4%
XOM	Sell	EXXON MOBIL CORP	$2,007,000	-87.3%	21,343	-86.4%	0.25%	-87.6%
CVX	Buy	CHEVRON CORP NEW	$1,068,000	-6.2%	8,953	+2.7%	0.13%	-9.0%
HBI	Buy	HANESBRANDS INC	$993,000	+47.5%	9,244	+35.2%	0.12%	+43.0%
PG	Buy	PROCTER & GAMBLE CO	$940,000	+13.3%	11,220	+6.2%	0.12%	+10.4%
UNP	Buy	UNION PAC CORP	$848,000	+9.7%	7,826	+1.0%	0.10%	+7.1%
HD	Buy	HOME DEPOT INC	$671,000	+15.9%	7,310	+2.2%	0.08%	+12.2%
INTC	Buy	INTEL CORP	$593,000	+28.9%	17,039	+14.5%	0.07%	+25.4%
ESS	Buy	ESSEX PPTY TR INC	$584,000	+0.3%	3,267	+3.7%	0.07%	-2.7%
SPG	Buy	SIMON PPTY GROUP INC NEW	$480,000	-0.2%	2,922	+0.9%	0.06%	-1.6%
LOW	Buy	LOWES COS INC	$446,000	+12.1%	8,431	+1.6%	0.06%	+7.8%
VZ	Buy	VERIZON COMMUNICATIONS INC	$430,000	+30.7%	8,603	+28.1%	0.05%	+26.2%
T	Buy	AT&T INC	$413,000	-0.5%	11,729	+0.0%	0.05%	-3.8%
EMR	Sell	EMERSON ELEC CO	$363,000	-9.5%	5,798	-4.2%	0.04%	-11.8%
BP	Sell	BP PLCsponsored adr	$335,000	-20.4%	7,620	-4.4%	0.04%	-22.2%
LLY	Buy	LILLY ELI & CO	$317,000	+5.3%	4,886	+1.0%	0.04%	+2.6%
SLB	Sell	SCHLUMBERGER LTD	$305,000	-21.6%	3,000	-9.1%	0.04%	-24.0%
MMM	Buy	3M CO	$257,000	-0.4%	1,812	+0.7%	0.03%	-3.0%
BMY	Buy	BRISTOL MYERS SQUIBB CO	$238,000	+13.9%	4,649	+8.1%	0.03%	+11.1%
DIS	Buy	DISNEY WALT CO	$239,000	+10.6%	2,684	+6.6%	0.03%	+11.1%
RDSA	Buy	ROYAL DUTCH SHELL PLCspons adr a	$233,000	-5.7%	3,056	+1.9%	0.03%	-6.5%
MDT	Sell	MEDTRONIC INC	$223,000	-12.5%	3,600	-10.0%	0.03%	-12.5%
WMT	Buy	WAL-MART STORES INC	$210,000	+3.4%	2,752	+1.9%	0.03%	0.0%
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$210,000	–	3,575	–	0.03%	–
EXC	Exit	EXELON CORP	$0	–	-6,365	–	-0.03%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-2,875	–	-0.03%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-2,000	–	-0.03%	–
USB	Exit	US BANCORP DEL	$0	–	-8,000	–	-0.04%	–

Q2 2014

			Value		Shares		↓ Weighting
IGSB	New	ISHARES1-3 yr cr bd etf	$41,833,000	–	395,847	–	5.32%	–
BAC	New	BANK OF AMERICA CORPORATION	$38,839,000	–	2,526,905	–	4.94%	–
TIP	New	ISHAREStips bd etf	$36,323,000	–	314,867	–	4.62%	–
BK	New	BANK NEW YORK MELLON CORP	$31,466,000	–	839,554	–	4.00%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$30,812,000	–	243,460	–	3.92%	–
MSFT	New	MICROSOFT CORP	$30,101,000	–	721,838	–	3.83%	–
AGG	New	ISHAREScore totusbd etf	$28,945,000	–	264,576	–	3.68%	–
GE	New	GENERAL ELECTRIC CO	$28,491,000	–	1,084,121	–	3.63%	–
DVN	New	DEVON ENERGY CORP NEW	$28,478,000	–	358,671	–	3.62%	–
NOV	New	NATIONAL OILWELL VARCO INC	$24,836,000	–	301,590	–	3.16%	–
AAPL	New	APPLE INC	$24,228,000	–	260,709	–	3.08%	–
JNJ	New	JOHNSON & JOHNSON	$23,870,000	–	228,159	–	3.04%	–
FISV	New	FISERV INC	$23,595,000	–	391,160	–	3.00%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$23,132,000	–	441,273	–	2.94%	–
GM	New	GENERAL MTRS CO	$22,191,000	–	611,312	–	2.82%	–
KO	New	COCA COLA CO	$22,099,000	–	521,702	–	2.81%	–
AIG	New	AMERICAN INTL GROUP INC	$21,876,000	–	400,810	–	2.78%	–
PEP	New	PEPSICO INC	$21,332,000	–	238,768	–	2.72%	–
CSCO	New	CISCO SYS INC	$21,233,000	–	854,440	–	2.70%	–
QCOM	New	QUALCOMM INC	$21,126,000	–	266,740	–	2.69%	–
WFC	New	WELLS FARGO & CO NEW	$20,827,000	–	396,257	–	2.65%	–
C	New	CITIGROUP INC	$20,365,000	–	432,387	–	2.59%	–
LQD	New	ISHARESiboxx inv cp etf	$19,583,000	–	164,204	–	2.49%	–
GOOGL	New	GOOGLE INCcl a	$19,013,000	–	32,520	–	2.42%	–
EBAY	New	EBAY INC	$18,407,000	–	367,700	–	2.34%	–
DEO	New	DIAGEO P L Cspon adr new	$17,191,000	–	135,077	–	2.19%	–
FDX	New	FEDEX CORP	$16,829,000	–	111,168	–	2.14%	–
HSP	New	HOSPIRA INC	$16,750,000	–	326,070	–	2.13%	–
XOM	New	EXXON MOBIL CORP	$15,755,000	–	156,490	–	2.00%	–
BCR	New	BARD C R INC	$14,130,000	–	98,805	–	1.80%	–
NOC	New	NORTHROP GRUMMAN CORP	$12,921,000	–	108,008	–	1.64%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$12,513,000	–	121,883	–	1.59%	–
GOOG	New	GOOGLE INCcl c	$11,663,000	–	20,274	–	1.48%	–
UTX	New	UNITED TECHNOLOGIES CORP	$10,479,000	–	90,770	–	1.33%	–
CVX	New	CHEVRON CORP NEW	$1,138,000	–	8,715	–	0.14%	–
PG	New	PROCTER & GAMBLE CO	$830,000	–	10,564	–	0.11%	–
UNP	New	UNION PAC CORP	$773,000	–	7,750	–	0.10%	–
CB	New	CHUBB CORP	$765,000	–	8,300	–	0.10%	–
EOG	New	EOG RES INC	$701,000	–	6,000	–	0.09%	–
HBI	New	HANESBRANDS INC	$673,000	–	6,836	–	0.09%	–
SO	New	SOUTHERN CO	$610,000	–	13,450	–	0.08%	–
ESS	New	ESSEX PPTY TR INC	$582,000	–	3,149	–	0.07%	–
HD	New	HOME DEPOT INC	$579,000	–	7,150	–	0.07%	–
SPG	New	SIMON PPTY GROUP INC NEW	$481,000	–	2,895	–	0.06%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$462,000	–	2,550	–	0.06%	–
INTC	New	INTEL CORP	$460,000	–	14,875	–	0.06%	–
BP	New	BP PLCsponsored adr	$421,000	–	7,972	–	0.05%	–
T	New	AT&T INC	$415,000	–	11,725	–	0.05%	–
EMR	New	EMERSON ELEC CO	$401,000	–	6,050	–	0.05%	–
LOW	New	LOWES COS INC	$398,000	–	8,300	–	0.05%	–
SLB	New	SCHLUMBERGER LTD	$389,000	–	3,300	–	0.05%	–
SYY	New	SYSCO CORP	$352,000	–	9,410	–	0.04%	–
USB	New	US BANCORP DEL	$347,000	–	8,000	–	0.04%	–
VZ	New	VERIZON COMMUNICATIONS INC	$329,000	–	6,715	–	0.04%	–
LLY	New	LILLY ELI & CO	$301,000	–	4,836	–	0.04%	–
BXMT	New	BLACKSTONE MTG TR INC	$293,000	–	10,090	–	0.04%	–
DMLP	New	DORCHESTER MINERALS LP	$281,000	–	9,200	–	0.04%	–
UN	New	UNILEVER N V	$279,000	–	6,375	–	0.04%	–
MMM	New	3M CO	$258,000	–	1,800	–	0.03%	–
MDT	New	MEDTRONIC INC	$255,000	–	4,000	–	0.03%	–
PH	New	PARKER HANNIFIN CORP	$251,000	–	2,000	–	0.03%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$247,000	–	3,000	–	0.03%	–
COP	New	CONOCOPHILLIPS	$246,000	–	2,875	–	0.03%	–
EXC	New	EXELON CORP	$232,000	–	6,365	–	0.03%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$209,000	–	4,300	–	0.03%	–
DIS	New	DISNEY WALT CO	$216,000	–	2,519	–	0.03%	–
PAYX	New	PAYCHEX INC	$208,000	–	5,000	–	0.03%	–
WMT	New	WAL-MART STORES INC	$203,000	–	2,700	–	0.03%	–

Q4 2013

			Value		Shares		↓ Weighting
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,060	–	-0.03%	–
EXC	Exit	EXELON CORP	$0	–	-7,215	–	-0.03%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-2,600	–	-0.03%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-2,830	–	-0.03%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-4,734	–	-0.03%	–
VTR	Exit	VENTAS INC	$0	–	-3,618	–	-0.03%	–
MMM	Exit	3M CO	$0	–	-1,940	–	-0.04%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,836	–	-0.04%	–
DMLP	Exit	DORCHESTER MINERALS LP	$0	–	-10,419	–	-0.04%	–
UN	Exit	UNILEVER N V	$0	–	-7,175	–	-0.04%	–
SYY	Exit	SYSCO CORP	$0	–	-9,410	–	-0.04%	–
BP	Exit	BP PLCsponsored adr	$0	–	-7,672	–	-0.05%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-5,304	–	-0.05%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-7,183	–	-0.05%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-4,300	–	-0.06%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-6,050	–	-0.06%	–
T	Exit	AT&T INC	$0	–	-11,755	–	-0.06%	–
HBI	Exit	HANESBRANDS INC	$0	–	-6,836	–	-0.06%	–
SPG	Exit	SIMON PPTY GROUP INC NEW	$0	–	-2,895	–	-0.06%	–
ESS	Exit	ESSEX PPTY TR INC	$0	–	-3,000	–	-0.07%	–
LOW	Exit	LOWES COS INC	$0	–	-9,275	–	-0.07%	–
EOG	Exit	EOG RES INC	$0	–	-3,000	–	-0.08%	–
KO	Exit	COCA COLA CO	$0	–	-13,527	–	-0.08%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,921	–	-0.08%	–
HD	Exit	HOME DEPOT INC	$0	–	-7,600	–	-0.09%	–
SO	Exit	SOUTHERN CO	$0	–	-14,250	–	-0.09%	–
UNP	Exit	UNION PAC CORP	$0	–	-3,875	–	-0.09%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-10,814	–	-0.12%	–
CB	Exit	CHUBB CORP	$0	–	-9,150	–	-0.12%	–
HSP	Exit	HOSPIRA INC	$0	–	-141,591	–	-0.84%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-121,867	–	-0.93%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-85,008	–	-1.39%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-77,112	–	-1.48%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-117,598	–	-1.63%	–
QCOM	Exit	QUALCOMM INC	$0	–	-166,660	–	-1.70%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-210,159	–	-1.80%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-125,862	–	-1.82%	–
FDX	Exit	FEDEX CORP	$0	–	-107,539	–	-1.86%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-113,292	–	-1.87%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-144,785	–	-1.89%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-227,866	–	-2.00%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-194,552	–	-2.05%	–
BAC	Exit	BANK OF AMERICA CORPORATION	$0	–	-983,210	–	-2.06%	–
USB	Exit	US BANCORP DEL	$0	–	-402,446	–	-2.23%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-188,961	–	-2.24%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-303,945	–	-2.24%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-405,904	–	-2.32%	–
PAYX	Exit	PAYCHEX INC	$0	–	-378,539	–	-2.33%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-378,675	–	-2.37%	–
LQD	Exit	ISHARESiboxx inv cp etf	$0	–	-141,636	–	-2.44%	–
AAPL	Exit	APPLE INC	$0	–	-33,721	–	-2.44%	–
PEP	Exit	PEPSICO INC	$0	–	-209,983	–	-2.53%	–
INTC	Exit	INTEL CORP	$0	–	-738,763	–	-2.57%	–
CSCO	Exit	CISCO SYS INC	$0	–	-731,319	–	-2.60%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-149,097	–	-2.75%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-213,094	–	-2.80%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-558,796	–	-2.82%	–
C	Exit	CITIGROUP INC	$0	–	-387,917	–	-2.85%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-21,994	–	-2.92%	–
FISV	Exit	FISERV INC	$0	–	-193,015	–	-2.96%	–
GM	Exit	GENERAL MTRS CO	$0	–	-551,366	–	-3.01%	–
MDT	Exit	MEDTRONIC INC	$0	–	-416,565	–	-3.36%	–
AGG	Exit	ISHAREScore totusbd etf	$0	–	-215,975	–	-3.51%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-1,000,072	–	-3.62%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-226,311	–	-3.89%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-943,646	–	-4.32%	–
TIP	Exit	ISHAREStips bd etf	$0	–	-270,553	–	-4.62%	–
IGSB	Exit	ISHARES1-3 yr cr bd etf	$0	–	-327,264	–	-5.22%	–

Q3 2013

			Value		Shares		↓ Weighting
IGSB	Buy	ISHARES1-3 yr cr bd etf	$34,454,000	+5.2%	327,264	+4.9%	5.22%	+1.7%
TIP	Buy	ISHAREStips bd etf	$30,459,000	+6.2%	270,553	+5.6%	4.62%	+2.6%
BK	Buy	BANK NEW YORK MELLON CORP	$28,489,000	+16.6%	943,646	+8.3%	4.32%	+12.6%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$25,689,000	+0.3%	226,311	-1.2%	3.89%	-3.1%
GE	Buy	GENERAL ELECTRIC CO	$23,892,000	+4.0%	1,000,072	+1.0%	3.62%	+0.5%
AGG	Buy	ISHAREScore totusbd etf	$23,153,000	+11.9%	215,975	+11.9%	3.51%	+8.2%
MDT	Sell	MEDTRONIC INC	$22,182,000	+2.1%	416,565	-1.3%	3.36%	-1.3%
GM	Sell	GENERAL MTRS CO	$19,833,000	+5.7%	551,366	-2.1%	3.01%	+2.2%
FISV	Sell	FISERV INC	$19,504,000	+14.9%	193,015	-0.6%	2.96%	+11.0%
GOOGL	Sell	GOOGLE INCcl a	$19,265,000	-2.7%	21,994	-2.2%	2.92%	-6.0%
C	Sell	CITIGROUP INC	$18,818,000	+1.0%	387,917	-0.2%	2.85%	-2.4%
MSFT	Sell	MICROSOFT CORP	$18,597,000	-25.4%	558,796	-22.5%	2.82%	-27.9%
JNJ	Sell	JOHNSON & JOHNSON	$18,473,000	+0.9%	213,094	-0.1%	2.80%	-2.5%
CVX	Buy	CHEVRON CORP NEW	$18,115,000	+5.6%	149,097	+2.8%	2.75%	+2.0%
CSCO	Sell	CISCO SYS INC	$17,136,000	-32.2%	731,319	-29.5%	2.60%	-34.4%
INTC	Buy	INTEL CORP	$16,933,000	-3.4%	738,763	+2.1%	2.57%	-6.6%
PEP	Buy	PEPSICO INC	$16,694,000	-2.2%	209,983	+0.6%	2.53%	-5.5%
LQD	Buy	ISHARESiboxx inv cp etf	$16,079,000	+2.1%	141,636	+2.2%	2.44%	-1.4%
AAPL	Buy	APPLE INC	$16,076,000	+24.6%	33,721	+3.6%	2.44%	+20.3%
WFC	Sell	WELLS FARGO & CO NEW	$15,647,000	-0.0%	378,675	-0.1%	2.37%	-3.4%
PAYX	Sell	PAYCHEX INC	$15,384,000	-7.6%	378,539	-17.0%	2.33%	-10.8%
TEVA	Buy	TEVA PHARMACEUTICAL INDS LTDadr	$15,335,000	-1.3%	405,904	+2.4%	2.32%	-4.6%
AIG	Buy	AMERICAN INTL GROUP INC	$14,781,000	+22.0%	303,945	+12.1%	2.24%	+17.9%
NOV	Buy	NATIONAL OILWELL VARCO INC	$14,760,000	+79.7%	188,961	+58.5%	2.24%	+73.5%
USB	Buy	US BANCORP DEL	$14,721,000	+1.7%	402,446	+0.5%	2.23%	-1.8%
BAC	Buy	BANK OF AMERICA CORPORATION	$13,568,000	+18.5%	983,210	+10.5%	2.06%	+14.5%
COP	Buy	CONOCOPHILLIPS	$13,523,000	+15.0%	194,552	+0.1%	2.05%	+11.2%
DVN	Buy	DEVON ENERGY CORP NEW	$13,162,000	+17.5%	227,866	+5.6%	2.00%	+13.5%
XOM	Sell	EXXON MOBIL CORP	$12,457,000	-28.4%	144,785	-24.8%	1.89%	-30.8%
PH	Buy	PARKER HANNIFIN CORP	$12,317,000	+16.2%	113,292	+2.0%	1.87%	+12.3%
FDX	Buy	FEDEX CORP	$12,271,000	+17.3%	107,539	+1.3%	1.86%	+13.3%
NOC	New	NORTHROP GRUMMAN CORP	$11,990,000	–	125,862	–	1.82%	–
CHL	Sell	CHINA MOBILE LIMITEDsponsored adr	$11,859,000	-16.4%	210,159	-23.3%	1.80%	-19.2%
QCOM	New	QUALCOMM INC	$11,220,000	–	166,660	–	1.70%	–
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$10,745,000	+8.0%	117,598	+2.2%	1.63%	+4.4%
DEO	Buy	DIAGEO P L Cspon adr new	$9,799,000	+11.0%	77,112	+0.4%	1.48%	+7.2%
UTX	Buy	UNITED TECHNOLOGIES CORP	$9,166,000	+17.7%	85,008	+1.5%	1.39%	+13.8%
BEN	Buy	FRANKLIN RES INC	$6,160,000	-16.5%	121,867	+124.8%	0.93%	-19.3%
HSP	New	HOSPIRA INC	$5,553,000	–	141,591	–	0.84%	–
PG	Sell	PROCTER & GAMBLE CO	$817,000	-2.5%	10,814	-0.7%	0.12%	-5.3%
SO	Sell	SOUTHERN CO	$587,000	-7.4%	14,250	-0.9%	0.09%	-10.1%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$541,000	+2.3%	2,921	+5.5%	0.08%	-1.2%
KO	Buy	COCA COLA CO	$512,000	-2.5%	13,527	+3.4%	0.08%	-4.9%
LOW	Sell	LOWES COS INC	$442,000	-96.1%	9,275	-96.6%	0.07%	-96.2%
T	Sell	AT&T INC	$398,000	-5.9%	11,755	-1.7%	0.06%	-9.1%
EMR	Buy	EMERSON ELEC CO	$391,000	+33.4%	6,050	+12.6%	0.06%	+28.3%
SLB	Buy	SCHLUMBERGER LTD	$380,000	+29.3%	4,300	+4.9%	0.06%	+26.1%
VZ	Buy	VERIZON COMMUNICATIONS INC	$335,000	+1.8%	7,183	+10.0%	0.05%	-1.9%
BP	Sell	BP PLCsponsored adr	$322,000	-0.6%	7,672	-1.3%	0.05%	-3.9%
EPD	Buy	ENTERPRISE PRODS PARTNERS L	$324,000	+11.0%	5,304	+12.9%	0.05%	+6.5%
DMLP	Buy	DORCHESTER MINERALS LP	$249,000	-2.4%	10,419	+0.2%	0.04%	-5.0%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$219,000	-7.6%	4,734	-10.7%	0.03%	-10.8%
WMT	Sell	WAL-MART STORES INC	$209,000	-5.0%	2,830	-4.1%	0.03%	-8.6%
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$201,000	–	3,060	–	0.03%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-121,810	–	-1.89%	–

Q2 2013

			Value		Shares		↓ Weighting
IGSB	New	ISHARES TRbarclys 1-3yr cr	$32,757,000	–	311,884	–	5.14%	–
TIP	New	ISHARES TRbarclys tips bd	$28,694,000	–	256,171	–	4.50%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$25,624,000	–	228,951	–	4.02%	–
CSCO	New	CISCO SYS INC	$25,259,000	–	1,037,967	–	3.96%	–
MSFT	New	MICROSOFT CORP	$24,916,000	–	721,267	–	3.91%	–
BK	New	BANK NEW YORK MELLON CORP	$24,438,000	–	871,238	–	3.83%	–
GE	New	GENERAL ELECTRIC CO	$22,971,000	–	990,560	–	3.60%	–
MDT	New	MEDTRONIC INC	$21,727,000	–	422,130	–	3.41%	–
AGG	New	ISHARES TRcore totusbd etf	$20,689,000	–	192,981	–	3.24%	–
GOOGL	New	GOOGLE INCcl a	$19,807,000	–	22,499	–	3.11%	–
GM	New	GENERAL MTRS CO	$18,755,000	–	563,036	–	2.94%	–
C	New	CITIGROUP INC	$18,640,000	–	388,578	–	2.92%	–
JNJ	New	JOHNSON & JOHNSON	$18,312,000	–	213,278	–	2.87%	–
INTC	New	INTEL CORP	$17,524,000	–	723,251	–	2.75%	–
XOM	New	EXXON MOBIL CORP	$17,395,000	–	192,533	–	2.73%	–
CVX	New	CHEVRON CORP NEW	$17,155,000	–	144,967	–	2.69%	–
PEP	New	PEPSICO INC	$17,065,000	–	208,647	–	2.68%	–
FISV	New	FISERV INC	$16,979,000	–	194,250	–	2.66%	–
PAYX	New	PAYCHEX INC	$16,655,000	–	456,178	–	2.61%	–
LQD	New	ISHARES TRiboxx inv cpbd	$15,752,000	–	138,601	–	2.47%	–
WFC	New	WELLS FARGO & CO NEW	$15,648,000	–	379,163	–	2.46%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$15,536,000	–	396,331	–	2.44%	–
USB	New	US BANCORP DEL	$14,482,000	–	400,602	–	2.27%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$14,182,000	–	273,945	–	2.22%	–
AAPL	New	APPLE INC	$12,906,000	–	32,548	–	2.02%	–
AIG	New	AMERICAN INTL GROUP INC	$12,116,000	–	271,042	–	1.90%	–
BDX	New	BECTON DICKINSON & CO	$12,038,000	–	121,810	–	1.89%	–
COP	New	CONOCOPHILLIPS	$11,757,000	–	194,327	–	1.84%	–
BAC	New	BANK OF AMERICA CORPORATION	$11,447,000	–	890,153	–	1.80%	–
LOW	New	LOWES COS INC	$11,273,000	–	275,616	–	1.77%	–
DVN	New	DEVON ENERGY CORP NEW	$11,199,000	–	215,857	–	1.76%	–
PH	New	PARKER HANNIFIN CORP	$10,597,000	–	111,077	–	1.66%	–
FDX	New	FEDEX CORP	$10,461,000	–	106,113	–	1.64%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$9,953,000	–	115,088	–	1.56%	–
DEO	New	DIAGEO P L Cspon adr new	$8,826,000	–	76,783	–	1.38%	–
NOV	New	NATIONAL OILWELL VARCO INC	$8,214,000	–	119,221	–	1.29%	–
UTX	New	UNITED TECHNOLOGIES CORP	$7,785,000	–	83,766	–	1.22%	–
BEN	New	FRANKLIN RES INC	$7,375,000	–	54,220	–	1.16%	–
PG	New	PROCTER & GAMBLE CO	$838,000	–	10,889	–	0.13%	–
CB	New	CHUBB CORP	$775,000	–	9,150	–	0.12%	–
SO	New	SOUTHERN CO	$634,000	–	14,375	–	0.10%	–
UNP	New	UNION PAC CORP	$598,000	–	3,875	–	0.09%	–
HD	New	HOME DEPOT INC	$589,000	–	7,600	–	0.09%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$529,000	–	2,769	–	0.08%	–
KO	New	COCA COLA CO	$525,000	–	13,084	–	0.08%	–
ESS	New	ESSEX PPTY TR INC	$477,000	–	3,000	–	0.08%	–
SPG	New	SIMON PPTY GROUP INC NEW	$457,000	–	2,895	–	0.07%	–
T	New	AT&T INC	$423,000	–	11,955	–	0.07%	–
EOG	New	EOG RES INC	$395,000	–	3,000	–	0.06%	–
HBI	New	HANESBRANDS INC	$352,000	–	6,836	–	0.06%	–
VZ	New	VERIZON COMMUNICATIONS INC	$329,000	–	6,531	–	0.05%	–
BP	New	BP PLCsponsored adr	$324,000	–	7,772	–	0.05%	–
SYY	New	SYSCO CORP	$321,000	–	9,410	–	0.05%	–
EMR	New	EMERSON ELEC CO	$293,000	–	5,375	–	0.05%	–
SLB	New	SCHLUMBERGER LTD	$294,000	–	4,100	–	0.05%	–
EPD	New	ENTERPRISE PRODS PARTNERS L	$292,000	–	4,700	–	0.05%	–
UN	New	UNILEVER N V	$282,000	–	7,175	–	0.04%	–
DMLP	New	DORCHESTER MINERALS LP	$255,000	–	10,400	–	0.04%	–
VTR	New	VENTAS INC	$251,000	–	3,618	–	0.04%	–
LLY	New	LILLY ELI & CO	$238,000	–	4,836	–	0.04%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$237,000	–	5,300	–	0.04%	–
WMT	New	WAL-MART STORES INC	$220,000	–	2,950	–	0.04%	–
EXC	New	EXELON CORP	$223,000	–	7,215	–	0.04%	–
NEE	New	NEXTERA ENERGY INC	$212,000	–	2,600	–	0.03%	–
MMM	New	3M CO	$212,000	–	1,940	–	0.03%	–

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