WEYBOSSET RESEARCH & MANAGEMENT LLC Activity Q4 2004-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
CPRT	Buy	COPART INC	$31,215	-6.9%	724,411	+97.1%	12.43%	+1.2%
DE	Sell	DEERE & CO	$19,574	-7.9%	51,867	-1.1%	7.79%	+0.1%
AGM	Sell	FEDERAL AGRIC MTG CORPcl c	$18,639	+5.5%	120,795	-1.7%	7.42%	+14.8%
KEYS	Buy	KEYSIGHT TECHNOLOGIES INC	$14,137	-20.2%	106,851	+1.0%	5.63%	-13.2%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$13,831	+1.5%	39,482	-1.2%	5.51%	+10.3%
TJX	Sell	TJX COS INC NEW	$13,590	+3.8%	152,906	-1.0%	5.41%	+12.8%
HXL	Sell	HEXCEL CORP NEW	$11,868	-14.7%	182,191	-0.4%	4.72%	-7.2%
SAIC	Sell	SCIENCE APPLICATIONS INTL CO	$10,662	-6.9%	101,024	-0.8%	4.24%	+1.2%
GD	Sell	GENERAL DYNAMICS CORP	$10,344	+2.4%	46,810	-0.3%	4.12%	+11.3%
CMI	Sell	CUMMINS INC	$10,079	-7.3%	44,117	-0.6%	4.01%	+0.8%
APTV	Sell	APTIV PLC	$10,035	-5.2%	101,782	-1.9%	4.00%	+3.1%
CNI	Buy	CANADIAN NATL RY CO	$9,786	-10.3%	90,332	+0.2%	3.90%	-2.5%
OZK	Sell	BANK OZK LITTLE ROCK ARK	$9,526	-7.9%	256,978	-0.2%	3.79%	+0.1%
NYT	Sell	NEW YORK TIMES COcl a	$9,240	+4.1%	224,263	-0.5%	3.68%	+13.2%
JNJ	Sell	JOHNSON & JOHNSON	$8,732	-7.0%	56,066	-1.2%	3.48%	+1.1%
HPQ	Sell	HP INC	$8,303	-16.8%	323,059	-0.6%	3.31%	-9.6%
LH	Sell	LABORATORY CORP AMER HLDGS	$7,949	-16.8%	39,538	-0.1%	3.16%	-9.5%
RH	Sell	RH	$7,249	-21.8%	27,420	-2.5%	2.89%	-15.0%
FMC	Buy	FMC CORP	$6,328	-34.4%	94,487	+2.2%	2.52%	-28.7%
CHRW	Buy	C H ROBINSON WORLDWIDE INC	$5,177	+20.3%	60,102	+31.7%	2.06%	+30.8%
EXPD	Buy	EXPEDITORS INTL WASH INC	$4,079	-4.2%	35,584	+1.2%	1.62%	+4.1%
AAPL	Sell	APPLE INC	$777	-27.8%	4,537	-18.2%	0.31%	-21.6%
	Buy	WOLFSPEED INC	$532	-27.5%	13,959	+5.7%	0.21%	-21.2%
AMZN	Sell	AMAZON COM INC	$515	-16.0%	4,051	-13.8%	0.20%	-8.5%
GOOGL	Sell	ALPHABET INCcap stk cl a	$414	-1.2%	3,160	-9.7%	0.16%	+7.8%
	Buy	BIOHAVEN LTD	$316	+30.0%	12,140	+19.7%	0.13%	+41.6%
KOPN	Buy	KOPIN CORP	$247	-36.2%	202,856	+12.8%	0.10%	-31.0%
GOOG	New	ALPHABET INCcap stk cl c	$216	–	1,640	–	0.09%	–
BX	New	BLACKSTONE INC	$214	–	1,999	–	0.08%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-10,287	–	-0.07%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-1,150	–	-0.07%	–
CTVA	Exit	CORTEVA INC	$0	–	-3,600	–	-0.08%	–
ABT	Exit	ABBOTT LABS	$0	–	-1,880	–	-0.08%	–
CMP	Exit	COMPASS MINERALS INTL INC	$0	–	-6,250	–	-0.08%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-2,217	–	-0.08%	–

Q2 2023

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$33,529	–	367,603	–	12.28%	–
DE	New	DEERE & CO	$21,254	–	52,454	–	7.78%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$17,708	–	105,749	–	6.48%	–
AGM	New	FEDERAL AGRIC MTG CORPcl c	$17,660	–	122,859	–	6.47%	–
HXL	New	HEXCEL CORP NEW	$13,908	–	182,949	–	5.09%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$13,628	–	39,965	–	4.99%	–
TJX	New	TJX COS INC NEW	$13,093	–	154,418	–	4.80%	–
SAIC	New	SCIENCE APPLICATIONS INTL CO	$11,451	–	101,804	–	4.19%	–
CNI	New	CANADIAN NATL RY CO	$10,915	–	90,156	–	4.00%	–
CMI	New	CUMMINS INC	$10,876	–	44,362	–	3.98%	–
APTV	New	APTIV PLC	$10,588	–	103,714	–	3.88%	–
OZK	New	BANK OZK LITTLE ROCK ARK	$10,343	–	257,542	–	3.79%	–
GD	New	GENERAL DYNAMICS CORP	$10,105	–	46,968	–	3.70%	–
HPQ	New	HP INC	$9,984	–	325,111	–	3.66%	–
FMC	New	FMC CORP	$9,649	–	92,473	–	3.53%	–
LH	New	LABORATORY CORP AMER HLDGS	$9,549	–	39,569	–	3.50%	–
JNJ	New	JOHNSON & JOHNSON	$9,389	–	56,722	–	3.44%	–
RH	New	RH	$9,274	–	28,137	–	3.40%	–
NYT	New	NEW YORK TIMES COcl a	$8,878	–	225,451	–	3.25%	–
CHRW	New	C H ROBINSON WORLDWIDE INC	$4,304	–	45,622	–	1.58%	–
EXPD	New	EXPEDITORS INTL WASH INC	$4,260	–	35,167	–	1.56%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,739	–	16,367	–	1.00%	–
INGR	New	INGREDION INC	$2,143	–	20,225	–	0.78%	–
AAPL	New	APPLE INC	$1,076	–	5,548	–	0.39%	–
	New	WOLFSPEED INC	$734	–	13,211	–	0.27%	–
XOM	New	EXXON MOBIL CORP	$725	–	6,756	–	0.26%	–
AMZN	New	AMAZON COM INC	$613	–	4,701	–	0.22%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$523	–	2,375	–	0.19%	–
GOOGL	New	ALPHABET INCcap stk cl a	$419	–	3,500	–	0.15%	–
KOPN	New	KOPIN CORP	$387	–	179,831	–	0.14%	–
V	New	VISA INC	$354	–	1,490	–	0.13%	–
IYW	New	ISHARES TRu.s. tech etf	$266	–	2,444	–	0.10%	–
	New	BIOHAVEN LTD	$243	–	10,140	–	0.09%	–
MSFT	New	MICROSOFT CORP	$243	–	713	–	0.09%	–
CAT	New	CATERPILLAR INC	$234	–	950	–	0.09%	–
ABBV	New	ABBVIE INC	$216	–	1,605	–	0.08%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$217	–	2,217	–	0.08%	–
CMP	New	COMPASS MINERALS INTL INC	$213	–	6,250	–	0.08%	–
CRM	New	SALESFORCE INC	$210	–	995	–	0.08%	–
CTVA	New	CORTEVA INC	$206	–	3,600	–	0.08%	–
ABT	New	ABBOTT LABS	$205	–	1,880	–	0.08%	–
WELL	New	WELLTOWER INC	$202	–	2,500	–	0.07%	–
AXP	New	AMERICAN EXPRESS CO	$200	–	1,150	–	0.07%	–
ARCC	New	ARES CAPITAL CORP	$193	–	10,287	–	0.07%	–
	New	CHARGE ENTERPRISES INC	$172	–	175,000	–	0.06%	–

Q4 2022

			Value		Shares		↓ Weighting
ARCC	Exit	ARES CAPITAL CORP	$0	–	-10,287	–	-0.08%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-2,100	–	-0.09%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-1,500	–	-0.09%	–
SO	Exit	SOUTHERN CO	$0	–	-3,000	–	-0.09%	–
AMT	Exit	AMERICAN TOWER CORP NEW	$0	–	-1,025	–	-0.10%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-1,575	–	-0.10%	–
CRM	Exit	SALESFORCE INC	$0	–	-1,575	–	-0.10%	–
CMP	Exit	COMPASS MINERALS INTL INC	$0	–	-6,150	–	-0.10%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-1,325	–	-0.10%	–
APTVPRA	Exit	APTIV PLC5.5% cnv pfd a	$0	–	-2,580	–	-0.11%	–
KO	Exit	COCA COLA CO	$0	–	-4,544	–	-0.11%	–
ABT	Exit	ABBOTT LABS	$0	–	-2,700	–	-0.12%	–
XLU	Exit	SELECT SECTOR SPDR TRsbi int-utils	$0	–	-4,000	–	-0.12%	–
WELL	Exit	WELLTOWER INC	$0	–	-4,150	–	-0.12%	–
V	Exit	VISA INC	$0	–	-1,605	–	-0.12%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-1,800	–	-0.13%	–
UNP	Exit	UNION PAC CORP	$0	–	-1,525	–	-0.13%	–
CSCO	Exit	CISCO SYS INC	$0	–	-7,500	–	-0.13%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-1,375	–	-0.14%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-1,350	–	-0.15%	–
PFE	Exit	PFIZER INC	$0	–	-8,397	–	-0.16%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-4,529	–	-0.16%	–
AMGN	Exit	AMGEN INC	$0	–	-1,850	–	-0.18%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,800	–	-0.18%	–
CTVA	Exit	CORTEVA INC	$0	–	-7,356	–	-0.18%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,250	–	-0.19%	–
AMZN	Exit	AMAZON COM INC	$0	–	-4,620	–	-0.23%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-8,131	–	-0.31%	–
INGR	Exit	INGREDION INC	$0	–	-20,000	–	-0.71%	–
	Exit	WOLFSPEED INC	$0	–	-16,290	–	-0.74%	–
AAPL	Exit	APPLE INC	$0	–	-12,440	–	-0.76%	–
EXPD	Exit	EXPEDITORS INTL WASH INC	$0	–	-33,157	–	-1.29%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-16,297	–	-1.31%	–
CHRW	Exit	C H ROBINSON WORLDWIDE INC	$0	–	-42,831	–	-1.81%	–
RH	Exit	RH	$0	–	-25,973	–	-2.81%	–
NYT	Exit	NEW YORK TIMES COcl a	$0	–	-223,341	–	-2.82%	–
APTV	Exit	APTIV PLC	$0	–	-102,353	–	-3.52%	–
HPQ	Exit	HP INC	$0	–	-324,099	–	-3.55%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-39,609	–	-3.57%	–
CMI	Exit	CUMMINS INC	$0	–	-44,686	–	-4.00%	–
SAIC	Exit	SCIENCE APPLICATIONS INTL CO	$0	–	-103,515	–	-4.03%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-58,305	–	-4.19%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-188,122	–	-4.28%	–
TJX	Exit	TJX COS INC NEW	$0	–	-156,611	–	-4.28%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-90,272	–	-4.29%	–
FMC	Exit	FMC CORP	$0	–	-92,771	–	-4.31%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-47,071	–	-4.39%	–
OZK	Exit	BANK OZK	$0	–	-260,805	–	-4.54%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-40,671	–	-4.78%	–
AGM	Exit	FEDERAL AGRIC MTG CORPcl c	$0	–	-128,380	–	-5.60%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-108,721	–	-7.52%	–
DE	Exit	DEERE & CO	$0	–	-54,522	–	-8.01%	–
CPRT	Exit	COPART INC	$0	–	-193,959	–	-9.08%	–

Q3 2022

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$20,637,000	-2.2%	193,959	-0.1%	9.08%	-12.9%
DE	Buy	DEERE & CO	$18,204,000	+12.2%	54,522	+0.7%	8.01%	-0.1%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$17,108,000	+13.4%	108,721	-0.7%	7.52%	+1.0%
AGM	Buy	FEDERAL AGRIC MTG CORPcl c	$12,728,000	+2.9%	128,380	+1.4%	5.60%	-8.3%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$10,860,000	-1.2%	40,671	+1.0%	4.78%	-12.0%
OZK	Buy	BANK OZK	$10,317,000	+8.0%	260,805	+2.4%	4.54%	-3.9%
GD	Buy	GENERAL DYNAMICS CORP	$9,987,000	-2.5%	47,071	+1.7%	4.39%	-13.2%
FMC	Buy	FMC CORP	$9,806,000	+0.8%	92,771	+2.1%	4.31%	-10.2%
CNI	New	CANADIAN NATL RY CO	$9,748,000	–	90,272	–	4.29%	–
TJX	Buy	TJX COS INC NEW	$9,729,000	+13.6%	156,611	+2.1%	4.28%	+1.2%
HXL	Buy	HEXCEL CORP NEW	$9,730,000	+0.8%	188,122	+1.0%	4.28%	-10.3%
JNJ	Buy	JOHNSON & JOHNSON	$9,525,000	-5.7%	58,305	+2.5%	4.19%	-16.0%
SAIC	Buy	SCIENCE APPLICATIONS INTL CO	$9,154,000	-7.5%	103,515	+1.2%	4.03%	-17.7%
CMI	Buy	CUMMINS INC	$9,094,000	+7.4%	44,686	+2.1%	4.00%	-4.4%
LH	Buy	LABORATORY CORP AMER HLDGS	$8,112,000	-10.1%	39,609	+2.8%	3.57%	-20.0%
HPQ	Buy	HP INC	$8,077,000	-22.1%	324,099	+2.4%	3.55%	-30.7%
APTV	New	APTIV PLC	$8,005,000	–	102,353	–	3.52%	–
NYT	Buy	NEW YORK TIMES COcl a	$6,421,000	+8.0%	223,341	+4.8%	2.82%	-3.8%
RH	Buy	RH	$6,391,000	+34.4%	25,973	+8.9%	2.81%	+19.7%
CHRW	Buy	C H ROBINSON WORLDWIDE INC	$4,125,000	+6.6%	42,831	+12.1%	1.81%	-5.1%
JKHY	Sell	HENRY JACK & ASSOC INC	$2,970,000	+0.6%	16,297	-0.6%	1.31%	-10.4%
EXPD	Buy	EXPEDITORS INTL WASH INC	$2,928,000	+7.0%	33,157	+18.1%	1.29%	-4.7%
AAPL	Buy	APPLE INC	$1,719,000	+61.9%	12,440	+60.1%	0.76%	+44.3%
	Buy	WOLFSPEED INC	$1,684,000	+93.1%	16,290	+18.6%	0.74%	+71.9%
XOM	Buy	EXXON MOBIL CORP	$710,000	+155.4%	8,131	+4.5%	0.31%	+127.7%
AMZN	Buy	AMAZON COM INC	$522,000	+18.1%	4,620	+11.1%	0.23%	+5.5%
ABBV	Buy	ABBVIE INC	$436,000	+116.9%	3,250	+18.2%	0.19%	+93.9%
MSFT	Buy	MICROSOFT CORP	$419,000	-4.1%	1,800	+5.9%	0.18%	-14.8%
AMGN	Buy	AMGEN INC	$417,000	+18.1%	1,850	+27.6%	0.18%	+5.2%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$371,000	-12.5%	4,529	+2.6%	0.16%	-22.0%
PFE	Buy	PFIZER INC	$367,000	-11.4%	8,397	+6.3%	0.16%	-21.1%
ACN	New	ACCENTURE PLC IRELAND	$347,000	–	1,350	–	0.15%	–
STZ	Buy	CONSTELLATION BRANDS INCcl a	$316,000	+32.8%	1,375	+3.8%	0.14%	+17.8%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$291,000	-16.9%	1,800	-6.2%	0.13%	-26.0%
V	Buy	VISA INC	$285,000	+6.7%	1,605	+18.5%	0.12%	-5.3%
WELL	New	WELLTOWER INC	$267,000	–	4,150	–	0.12%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$262,000	–	4,000	–	0.12%	–
ABT	Buy	ABBOTT LABS	$261,000	0.0%	2,700	+12.5%	0.12%	-10.9%
KO	Buy	COCA COLA CO	$255,000	-6.6%	4,544	+4.6%	0.11%	-17.0%
APTVPRA	New	APTIV PLC5.5% cnv pfd a	$246,000	–	2,580	–	0.11%	–
CMP	New	COMPASS MINERALS INTL INC	$237,000	–	6,150	–	0.10%	–
CRM	Buy	SALESFORCE INC	$227,000	-14.0%	1,575	+8.6%	0.10%	-23.1%
AMT	New	AMERICAN TOWER CORP NEW	$220,000	–	1,025	–	0.10%	–
GOOGL	Buy	ALPHABET INCcap stk cl a	$201,000	-10.3%	2,100	+1938.8%	0.09%	-20.7%
KOPN	Exit	KOPIN CORP	$0	–	-156,030	–	-0.09%	–
MMM	Exit	3M CO	$0	–	-1,600	–	-0.10%	–
MCD	Exit	MCDONALDS CORP	$0	–	-940	–	-0.12%	–

Q2 2022

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$21,098,000	–	194,176	–	10.42%	–
DE	New	DEERE & CO	$16,221,000	–	54,166	–	8.01%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$15,087,000	–	109,443	–	7.45%	–
AGM	New	FEDERAL AGRIC MTG CORPcl c	$12,365,000	–	126,623	–	6.11%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$10,993,000	–	40,264	–	5.43%	–
HPQ	New	HP INC	$10,374,000	–	316,492	–	5.12%	–
GD	New	GENERAL DYNAMICS CORP	$10,242,000	–	46,293	–	5.06%	–
JNJ	New	JOHNSON & JOHNSON	$10,098,000	–	56,891	–	4.99%	–
SAIC	New	SCIENCE APPLICATIONS INTL CO	$9,900,000	–	102,288	–	4.89%	–
FMC	New	FMC CORP	$9,728,000	–	90,903	–	4.80%	–
HXL	New	HEXCEL CORP NEW	$9,654,000	–	186,195	–	4.77%	–
OZK	New	BANK OZK	$9,557,000	–	254,644	–	4.72%	–
LH	New	LABORATORY CORP AMER HLDGS	$9,026,000	–	38,515	–	4.46%	–
TJX	New	TJX COS INC NEW	$8,564,000	–	153,344	–	4.23%	–
CMI	New	CUMMINS INC	$8,470,000	–	43,766	–	4.18%	–
NYT	New	NEW YORK TIMES COcl a	$5,947,000	–	213,167	–	2.94%	–
RH	New	RH	$4,756,000	–	23,848	–	2.35%	–
CHRW	New	C H ROBINSON WORLDWIDE INC	$3,871,000	–	38,191	–	1.91%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,952,000	–	16,397	–	1.46%	–
EXPD	New	EXPEDITORS INTL WASH INC	$2,736,000	–	28,078	–	1.35%	–
INGR	New	INGREDION INC	$1,763,000	–	20,000	–	0.87%	–
AAPL	New	APPLE INC	$1,062,000	–	7,770	–	0.52%	–
	New	WOLFSPEED INC	$872,000	–	13,741	–	0.43%	–
AMZN	New	AMAZON COM INC	$442,000	–	4,160	–	0.22%	–
MSFT	New	MICROSOFT CORP	$437,000	–	1,700	–	0.22%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$424,000	–	4,413	–	0.21%	–
PFE	New	PFIZER INC	$414,000	–	7,897	–	0.20%	–
CTVA	New	CORTEVA INC	$398,000	–	7,356	–	0.20%	–
AMGN	New	AMGEN INC	$353,000	–	1,450	–	0.17%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$350,000	–	1,919	–	0.17%	–
UNP	New	UNION PAC CORP	$325,000	–	1,525	–	0.16%	–
CSCO	New	CISCO SYS INC	$320,000	–	7,500	–	0.16%	–
XOM	New	EXXON MOBIL CORP	$278,000	–	7,781	–	0.14%	–
KO	New	COCA COLA CO	$273,000	–	4,344	–	0.14%	–
V	New	VISA INC	$267,000	–	1,355	–	0.13%	–
CRM	New	SALESFORCE INC	$264,000	–	1,450	–	0.13%	–
ABT	New	ABBOTT LABS	$261,000	–	2,400	–	0.13%	–
ITW	New	ILLINOIS TOOL WKS INC	$241,000	–	1,325	–	0.12%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$238,000	–	1,325	–	0.12%	–
MCD	New	MCDONALDS CORP	$232,000	–	940	–	0.12%	–
GOOGL	New	ALPHABET INCcap stk cl a	$224,000	–	103	–	0.11%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$214,000	–	1,575	–	0.11%	–
SO	New	SOUTHERN CO	$214,000	–	3,000	–	0.11%	–
AXP	New	AMERICAN EXPRESS CO	$208,000	–	1,500	–	0.10%	–
MMM	New	3M CO	$207,000	–	1,600	–	0.10%	–
ABBV	New	ABBVIE INC	$201,000	–	2,750	–	0.10%	–
ARCC	New	ARES CAPITAL CORP	$184,000	–	10,287	–	0.09%	–
KOPN	New	KOPIN CORP	$175,000	–	156,030	–	0.09%	–

Q4 2021

			Value		Shares		↓ Weighting
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-200,000	–	-0.00%	–
SO	Exit	SOUTHERN CO	$0	–	-3,300	–	-0.08%	–
KO	Exit	COCA COLA CO	$0	–	-4,047	–	-0.09%	–
	Exit	NRG ENERGY INC	$0	–	-5,205	–	-0.09%	–
ABBV	Exit	ABBVIE INC	$0	–	-2,000	–	-0.09%	–
BX	Exit	BLACKSTONE INC	$0	–	-1,999	–	-0.10%	–
MMM	Exit	3M CO	$0	–	-1,398	–	-0.10%	–
MAR	Exit	MARRIOTT INTL INC NEW CL A	$0	–	-1,775	–	-0.11%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-1,625	–	-0.11%	–
GOOG	Exit	ALPHABET INCcap stk cla	$0	–	-100	–	-0.11%	–
ACN	Exit	ACCENTURE PLC IRELAND SHScla	$0	–	-850	–	-0.11%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-1,375	–	-0.12%	–
ABT	Exit	ABBOTT LABS	$0	–	-2,450	–	-0.12%	–
CAT	Exit	CATERPILLAR INC	$0	–	-1,600	–	-0.12%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-1,850	–	-0.13%	–
STZ	Exit	CONSTELLATION BRANDS INCcla	$0	–	-1,575	–	-0.14%	–
AMGN	Exit	AMGEN	$0	–	-1,625	–	-0.14%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,531	–	-0.15%	–
CTVA	Exit	CORTEVA INC	$0	–	-8,856	–	-0.15%	–
V	Exit	VISA INCcla	$0	–	-1,719	–	-0.16%	–
PFE	Exit	PFIZER INC	$0	–	-9,197	–	-0.16%	–
UPS	Exit	UNITED PARCEL SERVICE INCclb	$0	–	-2,250	–	-0.17%	–
CREE	Exit	CREE INC	$0	–	-5,580	–	-0.18%	–
CSCO	Exit	CISCO SYS	$0	–	-8,700	–	-0.19%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-1,750	–	-0.19%	–
UNP	Exit	UNION PACIFIC	$0	–	-2,475	–	-0.20%	–
RTX	Exit	RAYTHEON TECHOLOGIES CORP	$0	–	-5,729	–	-0.20%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-8,872	–	-0.21%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,100	–	-0.24%	–
AMZN	Exit	AMAZON INC	$0	–	-202	–	-0.27%	–
AAPL	Exit	APPLE INC	$0	–	-8,087	–	-0.46%	–
TRP	Exit	TC ENERGY CORP	$0	–	-42,203	–	-0.82%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-16,467	–	-1.10%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-69,707	–	-2.14%	–
FMC	Exit	F M C CORP	$0	–	-86,458	–	-3.22%	–
INGR	Exit	INGREDION INC	$0	–	-92,543	–	-3.35%	–
HPQ	Exit	HP INC	$0	–	-315,475	–	-3.51%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-45,574	–	-3.63%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-150,538	–	-3.63%	–
SAIC	Exit	SCIENCE APPLICATIONS INTL CO	$0	–	-104,813	–	-3.64%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-56,757	–	-3.72%	–
CMI	Exit	CUMMINS INC	$0	–	-41,739	–	-3.81%	–
TJX	Exit	TJX COS INC	$0	–	-149,153	–	-4.00%	–
NYT	Exit	NEW YORK TIMES COcla	$0	–	-204,767	–	-4.10%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-88,384	–	-4.15%	–
OZK	Exit	BANK OZK	$0	–	-250,498	–	-4.38%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-38,324	–	-4.38%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-40,009	–	-4.44%	–
APTV	Exit	APTIV PLC	$0	–	-91,374	–	-5.53%	–
AGM	Exit	FEDERAL AGRIC MTG CORPclc	$0	–	-127,529	–	-5.62%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-111,073	–	-7.42%	–
DE	Exit	DEERE & CO	$0	–	-54,936	–	-7.48%	–
CPRT	Exit	COPART INC	$0	–	-199,471	–	-11.24%	–

Q3 2021

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$27,671,000	+4.7%	199,471	-0.5%	11.24%	+4.7%
DE	Sell	DEERE & CO	$18,407,000	-5.7%	54,936	-0.7%	7.48%	-5.7%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$18,248,000	+6.0%	111,073	-0.4%	7.42%	+6.0%
AGM	Buy	FEDERAL AGRIC MTG CORPclc	$13,839,000	+9.8%	127,529	+0.1%	5.62%	+9.8%
APTV	Buy	APTIV PLC	$13,612,000	-5.1%	91,374	+0.3%	5.53%	-5.0%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$10,920,000	-1.8%	40,009	-0.0%	4.44%	-1.8%
LH	Sell	LABORATORY CORP AMER HLDGS	$10,786,000	+1.6%	38,324	-0.5%	4.38%	+1.6%
OZK	Sell	BANK OZK	$10,766,000	+1.9%	250,498	-0.0%	4.38%	+1.9%
CNI	Buy	CANADIAN NATL RAILWAY CO	$10,222,000	+10.2%	88,384	+0.6%	4.15%	+10.3%
NYT	Buy	NEW YORK TIMES COcla	$10,089,000	+13.4%	204,767	+0.2%	4.10%	+13.4%
TJX	Buy	TJX COS INC	$9,841,000	-2.1%	149,153	+0.0%	4.00%	-2.1%
CMI	Buy	CUMMINS INC	$9,373,000	-7.6%	41,739	+0.3%	3.81%	-7.6%
JNJ	Buy	JOHNSON & JOHNSON	$9,166,000	-1.8%	56,757	+0.2%	3.72%	-1.8%
SAIC	Buy	SCIENCE APPLICATIONS INTL CO	$8,968,000	-2.4%	104,813	+0.1%	3.64%	-2.4%
HXL	Buy	HEXCEL CORP NEW	$8,940,000	-4.0%	150,538	+0.9%	3.63%	-3.9%
GD	Buy	GENL DYNAMICS CORP	$8,934,000	+4.2%	45,574	+0.1%	3.63%	+4.3%
HPQ	Buy	HP INC	$8,631,000	-9.3%	315,475	+0.1%	3.51%	-9.3%
INGR	Buy	INGREDION INC	$8,237,000	-1.1%	92,543	+0.6%	3.35%	-1.1%
FMC	Buy	F M C CORP	$7,916,000	-14.8%	86,458	+0.7%	3.22%	-14.8%
CL	Buy	COLGATE PALMOLIVE CO	$5,268,000	-7.1%	69,707	+0.0%	2.14%	-7.0%
JKHY	Sell	HENRY JACK & ASSOC INC	$2,702,000	-1.1%	16,467	-1.5%	1.10%	-1.1%
TRP	Sell	TC ENERGY CORP	$2,030,000	-7.2%	42,203	-4.5%	0.82%	-7.2%
AAPL	Sell	APPLE INC	$1,144,000	-12.9%	8,087	-15.7%	0.46%	-12.9%
AMZN	Buy	AMAZON INC	$664,000	+0.5%	202	+5.2%	0.27%	+0.4%
MSFT	Buy	MICROSOFT CORP	$592,000	+7.8%	2,100	+3.7%	0.24%	+8.1%
XOM	New	EXXON MOBIL CORP	$522,000	–	8,872	–	0.21%	–
RTX	Buy	RAYTHEON TECHOLOGIES CORP	$492,000	+8.1%	5,729	+7.5%	0.20%	+8.1%
UNP	Sell	UNION PACIFIC	$485,000	-13.5%	2,475	-2.9%	0.20%	-13.6%
CRM	Buy	SALESFORCE COM INC	$475,000	+19.6%	1,750	+7.7%	0.19%	+19.9%
CSCO	Buy	CISCO SYS	$474,000	+107.9%	8,700	+102.3%	0.19%	+107.5%
CREE	New	CREE INC	$450,000	–	5,580	–	0.18%	–
UPS	Sell	UNITED PARCEL SERVICE INCclb	$410,000	-21.2%	2,250	-10.0%	0.17%	-20.9%
V	Sell	VISA INCcla	$383,000	-6.1%	1,719	-1.4%	0.16%	-6.0%
CTVA	Buy	CORTEVA INC	$373,000	+1.6%	8,856	+6.9%	0.15%	+2.0%
MCD	Sell	MCDONALDS CORP	$369,000	-6.6%	1,531	-10.5%	0.15%	-6.2%
AMGN	Buy	AMGEN	$346,000	-8.5%	1,625	+4.8%	0.14%	-8.4%
STZ	Buy	CONSTELLATION BRANDS INCcla	$332,000	-3.8%	1,575	+6.8%	0.14%	-3.6%
AXP	Sell	AMERICAN EXPRESS CO	$310,000	-3.7%	1,850	-5.1%	0.13%	-3.8%
ABT	Sell	ABBOTT LABS	$289,000	-25.5%	2,450	-26.9%	0.12%	-25.9%
ITW	Sell	ILLINOIS TOOL WKS INC	$284,000	-24.1%	1,375	-17.9%	0.12%	-24.3%
ACN	Sell	ACCENTURE PLC IRELAND SHScla	$272,000	-48.8%	850	-52.8%	0.11%	-48.6%
GOOG	Sell	ALPHABET INCcap stk cla	$267,000	+4.3%	100	-4.8%	0.11%	+4.8%
JPM	Buy	JPMORGAN CHASE & CO	$266,000	+14.2%	1,625	+8.3%	0.11%	+13.7%
MAR	Buy	MARRIOTT INTL INC NEW CL A	$263,000	+22.3%	1,775	+12.7%	0.11%	+23.0%
BX	New	BLACKSTONE INC	$233,000	–	1,999	–	0.10%	–
ABBV	Sell	ABBVIE INC	$216,000	-41.9%	2,000	-39.4%	0.09%	-41.7%
	New	NRG ENERGY INC	$213,000	–	5,205	–	0.09%	–
KO	New	COCA COLA CO	$212,000	–	4,047	–	0.09%	–
COKE	Exit	COCA COLA CO	$0	–	-3,847	–	-0.08%	–
	Exit	CREE INC	$0	–	-5,154	–	-0.20%	–

Q2 2021

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$26,437,000	–	200,538	–	10.74%	–
DE	New	DEERE & CO	$19,516,000	–	55,332	–	7.93%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$17,221,000	–	111,526	–	7.00%	–
APTV	New	APTIV PLC	$14,339,000	–	91,140	–	5.83%	–
AGM	New	FEDERAL AGRIC MTG CORPclc	$12,606,000	–	127,458	–	5.12%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$11,124,000	–	40,027	–	4.52%	–
LH	New	LABORATORY CORP AMER HLDGS	$10,620,000	–	38,499	–	4.32%	–
OZK	New	BANK OZK	$10,565,000	–	250,599	–	4.29%	–
CMI	New	CUMMINS INC	$10,144,000	–	41,605	–	4.12%	–
TJX	New	TJX COS INC	$10,054,000	–	149,123	–	4.08%	–
HPQ	New	HP INC	$9,518,000	–	315,275	–	3.87%	–
JNJ	New	JOHNSON & JOHNSON	$9,333,000	–	56,651	–	3.79%	–
HXL	New	HEXCEL CORP NEW	$9,308,000	–	149,168	–	3.78%	–
FMC	New	F M C CORP	$9,294,000	–	85,897	–	3.78%	–
CNI	New	CANADIAN NATL RAILWAY CO	$9,272,000	–	87,873	–	3.77%	–
SAIC	New	SCIENCE APPLICATIONS INTL CO	$9,189,000	–	104,744	–	3.73%	–
NYT	New	NEW YORK TIMES COcla	$8,897,000	–	204,297	–	3.62%	–
GD	New	GENL DYNAMICS CORP	$8,570,000	–	45,520	–	3.48%	–
INGR	New	INGREDION INC	$8,329,000	–	92,030	–	3.38%	–
CL	New	COLGATE PALMOLIVE CO	$5,668,000	–	69,676	–	2.30%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,733,000	–	16,712	–	1.11%	–
TRP	New	TC ENERGY CORP	$2,187,000	–	44,174	–	0.89%	–
AAPL	New	APPLE INC	$1,314,000	–	9,596	–	0.53%	–
AMZN	New	AMAZON INC	$661,000	–	192	–	0.27%	–
UNP	New	UNION PACIFIC	$561,000	–	2,550	–	0.23%	–
MSFT	New	MICROSOFT CORP	$549,000	–	2,025	–	0.22%	–
ACN	New	ACCENTURE PLC IRELAND SHScla	$531,000	–	1,800	–	0.22%	–
UPS	New	UNITED PARCEL SERVICE INCclb	$520,000	–	2,500	–	0.21%	–
	New	CREE INC	$505,000	–	5,154	–	0.20%	–
RTX	New	RAYTHEON CO	$455,000	–	5,329	–	0.18%	–
V	New	VISA INCcla	$408,000	–	1,743	–	0.17%	–
CRM	New	SALESFORCE COM INC	$397,000	–	1,625	–	0.16%	–
MCD	New	MCDONALDS CORP	$395,000	–	1,711	–	0.16%	–
ABT	New	ABBOTT LABS	$388,000	–	3,350	–	0.16%	–
AMGN	New	AMGEN	$378,000	–	1,550	–	0.15%	–
ITW	New	ILLINOIS TOOL WKS INC	$374,000	–	1,675	–	0.15%	–
ABBV	New	ABBVIE INC	$372,000	–	3,300	–	0.15%	–
CTVA	New	CORTEVA INC	$367,000	–	8,284	–	0.15%	–
PFE	New	PFIZER INC	$360,000	–	9,197	–	0.15%	–
CAT	New	CATERPILLAR INC	$348,000	–	1,600	–	0.14%	–
STZ	New	CONSTELLATION BRANDS INCcla	$345,000	–	1,475	–	0.14%	–
AXP	New	AMERICAN EXPRESS CO	$322,000	–	1,950	–	0.13%	–
MMM	New	3M CO	$278,000	–	1,398	–	0.11%	–
GOOG	New	ALPHABET INCcap stk cla	$256,000	–	105	–	0.10%	–
JPM	New	JPMORGAN CHASE & CO	$233,000	–	1,500	–	0.10%	–
CSCO	New	CISCO SYS	$228,000	–	4,300	–	0.09%	–
MAR	New	MARRIOTT INTL INC NEW CL A	$215,000	–	1,575	–	0.09%	–
COKE	New	COCA COLA CO	$208,000	–	3,847	–	0.08%	–
SO	New	SOUTHERN CO	$200,000	–	3,300	–	0.08%	–
CTTC	New	CALMARE THERAPEUTICS INC	$24,000	–	200,000	–	0.01%	–

Q4 2020

			Value		Shares		↓ Weighting
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-161,400	–	-0.01%	–
EGI	Exit	ENTREE RES LTD	$0	–	-50,143	–	-0.01%	–
KOPN	Exit	KOPIN CORP	$0	–	-35,348	–	-0.03%	–
SO	Exit	SOUTHERN CO	$0	–	-3,800	–	-0.11%	–
GSBD	Exit	GOLDMAN SACHS BDC INC	$0	–	-15,035	–	-0.12%	–
CTVA	Exit	CORTEVA INC	$0	–	-8,284	–	-0.13%	–
MMM	Exit	3M CO	$0	–	-1,500	–	-0.13%	–
CAT	Exit	CATERPILLAR INC	$0	–	-1,655	–	-0.14%	–
WELL	Exit	WELLTOWER INC	$0	–	-5,050	–	-0.15%	–
STZ	Exit	CONSTELLATION BRANDS INCcla	$0	–	-1,500	–	-0.16%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,400	–	-0.16%	–
CSCO	Exit	CISCO SYS	$0	–	-8,300	–	-0.18%	–
RTX	Exit	RAYTHEON CO	$0	–	-5,883	–	-0.19%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-1,850	–	-0.20%	–
ABT	Exit	ABBOTT LABS	$0	–	-3,350	–	-0.20%	–
UPS	Exit	UNITED PARCEL SERVICE INCclb	$0	–	-2,200	–	-0.20%	–
KO	Exit	COCA COLA INC	$0	–	-7,477	–	-0.20%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-26,880	–	-0.21%	–
PFE	Exit	PFIZER INC	$0	–	-10,247	–	-0.21%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-1,575	–	-0.22%	–
ACN	Exit	ACCENTURE PLC IRELAND SHScla	$0	–	-1,800	–	-0.22%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,986	–	-0.24%	–
AMGN	Exit	AMGEN	$0	–	-1,725	–	-0.24%	–
V	Exit	VISA INCcla	$0	–	-2,343	–	-0.26%	–
UNP	Exit	UNION PACIFIC	$0	–	-2,650	–	-0.29%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,475	–	-0.29%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-15,272	–	-0.29%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-2	–	-0.35%	–
AMZN	Exit	AMAZON INC	$0	–	-247	–	-0.43%	–
AAPL	Exit	APPLE INC	$0	–	-11,302	–	-0.72%	–
TCP	Exit	TC PIPELINES LP	$0	–	-76,390	–	-1.07%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-17,149	–	-1.53%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-126,582	–	-2.33%	–
OZK	Exit	BANK OZK	$0	–	-239,695	–	-2.80%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-66,444	–	-2.81%	–
HPQ	Exit	HP INC	$0	–	-301,694	–	-3.14%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-41,423	–	-3.14%	–
INGR	Exit	INGREDION INC	$0	–	-78,877	–	-3.27%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-37,384	–	-3.86%	–
EGOV	Exit	NIC INC	$0	–	-361,466	–	-3.90%	–
AGM	Exit	FEDERAL AGRIC MTG CORPclc	$0	–	-123,757	–	-4.32%	–
TJX	Exit	TJX COS INC	$0	–	-143,719	–	-4.39%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-54,418	–	-4.44%	–
APTV	Exit	APTIV PLC	$0	–	-88,399	–	-4.44%	–
NYT	Exit	NEW YORK TIMES COcla	$0	–	-197,444	–	-4.63%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-39,959	–	-4.67%	–
CMI	Exit	CUMMINS INC	$0	–	-40,540	–	-4.70%	–
FMC	Exit	F M C CORP	$0	–	-81,879	–	-4.76%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-83,875	–	-4.90%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-110,760	–	-6.00%	–
DE	Exit	DEERE & CO	$0	–	-56,833	–	-6.91%	–
CPRT	Exit	COPART INC	$0	–	-203,184	–	-11.72%	–

Q3 2020

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$21,367,000	+25.3%	203,184	-0.8%	11.72%	+17.3%
DE	Sell	DEERE & CO	$12,596,000	+39.4%	56,833	-1.2%	6.91%	+30.5%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$10,941,000	-2.6%	110,760	-0.6%	6.00%	-8.7%
CNI	Sell	CANADIAN NATL RAILWAY CO	$8,929,000	+19.0%	83,875	-1.0%	4.90%	+11.4%
FMC	Sell	F M C CORP	$8,672,000	+5.3%	81,879	-0.9%	4.76%	-1.3%
CMI	Sell	CUMMINS INC	$8,560,000	+21.1%	40,540	-0.6%	4.70%	+13.4%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$8,509,000	+17.4%	39,959	-1.6%	4.67%	+10.0%
NYT	Sell	NEW YORK TIMES COcla	$8,449,000	+0.3%	197,444	-1.5%	4.63%	-6.1%
APTV	Buy	APTIV PLC	$8,104,000	+20.1%	88,399	+2.1%	4.44%	+12.5%
JNJ	Sell	JOHNSON & JOHNSON	$8,102,000	+2.9%	54,418	-2.8%	4.44%	-3.6%
TJX	Sell	TJX COS INC	$7,998,000	+9.8%	143,719	-0.2%	4.39%	+2.9%
AGM	Buy	FEDERAL AGRIC MTG CORPclc	$7,878,000	+1.8%	123,757	+2.4%	4.32%	-4.6%
EGOV	Buy	NIC INC	$7,121,000	-13.9%	361,466	+0.3%	3.90%	-19.4%
LH	Sell	LABORATORY CORP AMER HLDGS	$7,038,000	+12.5%	37,384	-0.7%	3.86%	+5.4%
INGR	Buy	INGREDION INC	$5,969,000	-5.2%	78,877	+3.9%	3.27%	-11.2%
GD	Buy	GENL DYNAMICS CORP	$5,734,000	-6.0%	41,423	+1.5%	3.14%	-12.0%
HPQ	Buy	HP INC	$5,729,000	+13.0%	301,694	+3.8%	3.14%	+5.9%
CL	Buy	COLGATE PALMOLIVE CO	$5,126,000	+5.4%	66,444	+0.1%	2.81%	-1.3%
OZK	Buy	BANK OZK	$5,110,000	-2.1%	239,695	+7.8%	2.80%	-8.3%
HXL	Buy	HEXCEL CORP NEW	$4,247,000	-16.8%	126,582	+12.1%	2.33%	-22.1%
JKHY	Buy	HENRY JACK & ASSOC INC	$2,788,000	-10.8%	17,149	+0.9%	1.53%	-16.5%
TCP	Sell	TC PIPELINES LP	$1,954,000	-23.1%	76,390	-6.6%	1.07%	-28.0%
AAPL	Buy	APPLE INC	$1,309,000	+10.8%	11,302	+249.2%	0.72%	+3.8%
AMZN	Sell	AMAZON INC	$778,000	-5.0%	247	-16.8%	0.43%	-11.0%
XOM	Sell	EXXON MOBIL CORP	$524,000	-36.6%	15,272	-17.4%	0.29%	-40.7%
MSFT	Sell	MICROSOFT CORP	$521,000	-30.3%	2,475	-32.6%	0.29%	-34.6%
UNP	Buy	UNION PACIFIC	$522,000	+58.2%	2,650	+35.9%	0.29%	+48.2%
V	Sell	VISA INCcla	$469,000	-22.7%	2,343	-25.5%	0.26%	-27.6%
MCD	New	MCDONALDS CORP	$436,000	–	1,986	–	0.24%	–
CRM	Sell	SALESFORCE COM INC	$396,000	-19.5%	1,575	-40.0%	0.22%	-24.7%
ARCC	Buy	ARES CAPITAL CORP	$375,000	+0.5%	26,880	+4.3%	0.21%	-5.5%
PFE	New	PFIZER INC	$376,000	–	10,247	–	0.21%	–
KO	Sell	COCA COLA INC	$369,000	-28.9%	7,477	-35.6%	0.20%	-33.6%
UPS	New	UNITED PARCEL SERVICE INCclb	$367,000	–	2,200	–	0.20%	–
ABT	Sell	ABBOTT LABS	$365,000	-15.9%	3,350	-29.5%	0.20%	-21.3%
ITW	Sell	ILLINOIS TOOL WKS INC	$357,000	-9.2%	1,850	-17.8%	0.20%	-14.8%
RTX	Buy	RAYTHEON CO	$339,000	+29.9%	5,883	+38.9%	0.19%	+21.6%
CSCO	Sell	CISCO SYS	$327,000	-35.1%	8,300	-23.1%	0.18%	-39.3%
ABBV	Sell	ABBVIE INC	$298,000	-31.8%	3,400	-23.6%	0.16%	-36.3%
STZ	Sell	CONSTELLATION BRANDS INCcla	$284,000	-13.9%	1,500	-53.8%	0.16%	-19.2%
WELL	New	WELLTOWER INC	$278,000	–	5,050	–	0.15%	–
MMM	New	3M CO	$240,000	–	1,500	–	0.13%	–
SO	New	SOUTHERN CO	$206,000	–	3,800	–	0.11%	–
KOPN	Sell	KOPIN CORP	$49,000	-43.0%	35,348	-45.2%	0.03%	-46.0%
EGI	New	ENTREE RES LTD	$16,000	–	50,143	–	0.01%	–
DIS	Exit	DISNEY WALT CO	$0	–	-1,845	–	-0.12%	–
VFC	Exit	V F CORP	$0	–	-3,750	–	-0.13%	–
ATOM	Exit	ATOMERA INC	$0	–	-26,575	–	-0.14%	–
GOOGL	Exit	ALPHABET CAPITAL STKcla	$0	–	-180	–	-0.15%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-2,158	–	-0.15%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-9,965	–	-0.55%	–

Q2 2020

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$17,059,000	–	204,869	–	9.99%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$11,230,000	–	111,432	–	6.58%	–
DE	New	DEERE & CO	$9,037,000	–	57,508	–	5.29%	–
NYT	New	NEW YORK TIMES COcla	$8,424,000	–	200,423	–	4.93%	–
EGOV	New	NIC INC	$8,272,000	–	360,273	–	4.84%	–
FMC	New	F M C CORP	$8,233,000	–	82,645	–	4.82%	–
JNJ	New	JOHNSON & JOHNSON	$7,874,000	–	55,993	–	4.61%	–
AGM	New	FEDERAL AGRIC MTG CORPclc	$7,736,000	–	120,851	–	4.53%	–
CNI	New	CANADIAN NATL RAILWAY CO	$7,506,000	–	84,745	–	4.40%	–
TJX	New	TJX COS INC	$7,282,000	–	144,019	–	4.26%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$7,247,000	–	40,596	–	4.24%	–
CMI	New	CUMMINS INC	$7,068,000	–	40,793	–	4.14%	–
APTV	New	APTIV PLC	$6,748,000	–	86,603	–	3.95%	–
INGR	New	INGREDION INC	$6,299,000	–	75,890	–	3.69%	–
LH	New	LABORATORY CORP AMER HLDGS	$6,255,000	–	37,654	–	3.66%	–
GD	New	GENL DYNAMICS CORP	$6,101,000	–	40,820	–	3.57%	–
OZK	New	BANK OZK	$5,220,000	–	222,398	–	3.06%	–
HXL	New	HEXCEL CORP NEW	$5,104,000	–	112,871	–	2.99%	–
HPQ	New	HP INC	$5,068,000	–	290,755	–	2.97%	–
CL	New	COLGATE PALMOLIVE CO	$4,863,000	–	66,379	–	2.85%	–
JKHY	New	HENRY JACK & ASSOC INC	$3,127,000	–	16,994	–	1.83%	–
TCP	New	TC PIPELINES LP	$2,541,000	–	81,812	–	1.49%	–
AAPL	New	APPLE INC	$1,181,000	–	3,237	–	0.69%	–
JPM	New	JPMORGAN CHASE & CO	$937,000	–	9,965	–	0.55%	–
XOM	New	EXXON MOBIL CORP	$826,000	–	18,478	–	0.48%	–
AMZN	New	AMAZON INC	$819,000	–	297	–	0.48%	–
MSFT	New	MICROSOFT CORP	$747,000	–	3,673	–	0.44%	–
V	New	VISA INCcla	$607,000	–	3,143	–	0.36%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$535,000	–	2	–	0.31%	–
KO	New	COCA COLA INC	$519,000	–	11,610	–	0.30%	–
CSCO	New	CISCO SYS	$504,000	–	10,800	–	0.30%	–
CRM	New	SALESFORCE COM INC	$492,000	–	2,625	–	0.29%	–
ABBV	New	ABBVIE INC	$437,000	–	4,450	–	0.26%	–
ABT	New	ABBOTT LABS	$434,000	–	4,750	–	0.25%	–
AMGN	New	AMGEN	$407,000	–	1,725	–	0.24%	–
ITW	New	ILLINOIS TOOL WKS INC	$393,000	–	2,250	–	0.23%	–
ACN	New	ACCENTURE PLC IRELAND SHScla	$386,000	–	1,800	–	0.23%	–
ARCC	New	ARES CAPITAL CORP	$373,000	–	25,782	–	0.22%	–
UNP	New	UNION PACIFIC	$330,000	–	1,950	–	0.19%	–
STZ	New	CONSTELLATION BRANDS INCcla	$330,000	–	3,250	–	0.19%	–
RTX	New	RAYTHEON CO	$261,000	–	4,235	–	0.15%	–
PG	New	PROCTER & GAMBLE CO	$258,000	–	2,158	–	0.15%	–
GOOGL	New	ALPHABET CAPITAL STKcla	$255,000	–	180	–	0.15%	–
GSBD	New	GOLDMAN SACHS BDC INC	$244,000	–	15,035	–	0.14%	–
ATOM	New	ATOMERA INC	$239,000	–	26,575	–	0.14%	–
VFC	New	V F CORP	$229,000	–	3,750	–	0.13%	–
CTVA	New	CORTEVA INC	$222,000	–	8,284	–	0.13%	–
CAT	New	CATERPILLAR INC	$209,000	–	1,655	–	0.12%	–
DIS	New	DISNEY WALT CO	$206,000	–	1,845	–	0.12%	–
KOPN	New	KOPIN CORP	$86,000	–	64,545	–	0.05%	–
CTTC	New	CALMARE THERAPEUTICS INC	$10,000	–	161,400	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
KOPN	Exit	KOPIN CORP	$0	–	-11,875	–	-0.01%	–
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-161,400	–	-0.01%	–
ATOM	Exit	ATOMERA INC	$0	–	-18,280	–	-0.04%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,750	–	-0.23%	–
RTN	Exit	RAYTHEON CO	$0	–	-2,080	–	-0.23%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,590	–	-0.24%	–
PFE	Exit	PFIZER INC	$0	–	-12,847	–	-0.26%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-25,146	–	-0.27%	–
V	Exit	VISA INC	$0	–	-2,743	–	-0.27%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-3,575	–	-0.28%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-3,633	–	-0.28%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,339	–	-0.29%	–
AMZN	Exit	AMAZON INC	$0	–	-297	–	-0.30%	–
CSCO	Exit	CISCO SYS	$0	–	-10,950	–	-0.31%	–
UNP	Exit	UNION PACIFIC	$0	–	-3,650	–	-0.34%	–
WELL	Exit	WELLTOWER INC	$0	–	-6,650	–	-0.34%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-2	–	-0.36%	–
LTHM	Exit	LIVENT CORP	$0	–	-116,308	–	-0.44%	–
KO	Exit	COCA COLA INC	$0	–	-14,530	–	-0.45%	–
AAPL	Exit	APPLE INC	$0	–	-3,654	–	-0.47%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-21,168	–	-0.86%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-18,964	–	-1.58%	–
TCP	Exit	TC PIPELINES LP	$0	–	-83,800	–	-1.95%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-68,929	–	-2.90%	–
HPQ	Exit	HP INC	$0	–	-271,069	–	-2.93%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-63,170	–	-2.97%	–
OZK	Exit	BANK OZK	$0	–	-208,101	–	-3.25%	–
NYT	Exit	NEW YORK TIMES COcl a	$0	–	-204,715	–	-3.33%	–
INGR	Exit	INGREDION INC	$0	–	-72,386	–	-3.38%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-39,325	–	-3.78%	–
CMI	Exit	CUMMINS INC	$0	–	-40,856	–	-3.80%	–
APTV	Exit	APTIV PLC	$0	–	-77,528	–	-3.88%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-40,770	–	-4.26%	–
EGOV	Exit	NIC INC	$0	–	-366,645	–	-4.33%	–
FMC	Exit	F M C CORP	$0	–	-87,472	–	-4.39%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-59,350	–	-4.39%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-86,754	–	-4.46%	–
TJX	Exit	TJX COS INC	$0	–	-149,266	–	-4.76%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-42,638	–	-5.07%	–
AGM	Exit	FEDERAL AGRIC MTG CORPcl c	$0	–	-118,838	–	-5.55%	–
DE	Exit	DEERE & CO	$0	–	-59,907	–	-5.78%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-119,975	–	-6.67%	–
CPRT	Exit	COPART INC	$0	–	-224,354	–	-10.31%	–

Q3 2019

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$18,022,000	+1.5%	224,354	-5.6%	10.31%	-0.1%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$11,668,000	+7.7%	119,975	-0.6%	6.67%	+6.0%
DE	Buy	DEERE & CO	$10,105,000	+2.2%	59,907	+0.4%	5.78%	+0.6%
AGM	Buy	FEDERAL AGRIC MTG CORPcl c	$9,704,000	+13.0%	118,838	+0.6%	5.55%	+11.3%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELclb	$8,870,000	-1.8%	42,638	+0.7%	5.07%	-3.2%
TJX	Sell	TJX COS INC	$8,320,000	+5.1%	149,266	-0.3%	4.76%	+3.5%
CNI	Buy	CANADIAN NATL RAILWAY CO	$7,796,000	-2.4%	86,754	+0.4%	4.46%	-3.9%
JNJ	Buy	JOHNSON & JOHNSON	$7,679,000	-6.3%	59,350	+0.8%	4.39%	-7.8%
FMC	Buy	F M C CORP	$7,670,000	+6.4%	87,472	+0.7%	4.39%	+4.8%
EGOV	Buy	NIC INC	$7,571,000	+30.3%	366,645	+1.2%	4.33%	+28.3%
GD	Buy	GENL DYNAMICS CORP	$7,450,000	+1.2%	40,770	+0.7%	4.26%	-0.3%
APTV	Buy	APTIV PLC	$6,777,000	+9.1%	77,528	+0.9%	3.88%	+7.5%
CMI	Sell	CUMMINS INC	$6,646,000	-5.7%	40,856	-0.7%	3.80%	-7.2%
LH	Buy	LABORATORY CORP AMER HLDGS	$6,607,000	-2.6%	39,325	+0.2%	3.78%	-4.1%
INGR	Buy	INGREDION INC	$5,917,000	+2.4%	72,386	+3.3%	3.38%	+0.8%
NYT	Buy	NEW YORK TIMES COcl a	$5,830,000	-11.5%	204,715	+1.4%	3.33%	-12.9%
OZK	Buy	BANK OZK	$5,675,000	-6.0%	208,101	+3.7%	3.25%	-7.4%
HXL	Buy	HEXCEL CORP NEW	$5,188,000	+7.1%	63,170	+5.4%	2.97%	+5.4%
HPQ	Sell	HP INC	$5,129,000	-15.5%	271,069	-7.1%	2.93%	-16.8%
CL	Buy	COLGATE PALMOLIVE CO	$5,067,000	+3.3%	68,929	+0.7%	2.90%	+1.7%
TCP	New	TC PIPELINES LP	$3,408,000	–	83,800	–	1.95%	–
JKHY	Sell	HENRY JACK & ASSOC INC	$2,768,000	+8.7%	18,964	-0.3%	1.58%	+7.0%
XOM	Sell	EXXON MOBIL CORP	$1,495,000	-8.0%	21,168	-0.2%	0.86%	-9.4%
KO	Sell	COCA COLA INC	$791,000	+6.3%	14,530	-0.5%	0.45%	+4.6%
LTHM	Buy	LIVENT CORP	$778,000	+34.8%	116,308	+39.4%	0.44%	+32.8%
CSCO	Buy	CISCO SYS	$541,000	-5.4%	10,950	+4.8%	0.31%	-6.9%
MCD	Sell	MCDONALDS CORP	$502,000	-0.2%	2,339	-3.4%	0.29%	-1.7%
MSFT	Sell	MICROSOFT CORP	$497,000	+2.3%	3,575	-1.4%	0.28%	+0.7%
ARCC	Buy	ARES CAPITAL CORP	$469,000	+4.7%	25,146	+0.7%	0.27%	+3.1%
ATOM	Sell	ATOMERA INC	$69,000	-48.1%	18,280	-30.8%	0.04%	-49.4%
KOPN	Sell	KOPIN CORP	$8,000	-80.5%	11,875	-68.6%	0.01%	-79.2%
APD	Exit	AIR PROD & CHEMS INC	$0	–	-900	–	-0.12%	–
MTB	Exit	M & T BK CORP	$0	–	-1,212	–	-0.12%	–
SO	Exit	SOUTHERN CO	$0	–	-3,800	–	-0.12%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,450	–	-0.13%	–
VFC	Exit	V F CORP	$0	–	-3,100	–	-0.16%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-2,355	–	-0.19%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,450	–	-0.19%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-3,260	–	-0.20%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-1,850	–	-0.20%	–
AMGN	Exit	AMGEN INC	$0	–	-1,875	–	-0.20%	–
STZ	Exit	CONSTELLATION BRANDS INCcl b	$0	–	-1,800	–	-0.21%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,525	–	-0.22%	–
MMM	Exit	3M CO	$0	–	-2,250	–	-0.23%	–

Q2 2019

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$17,757,000	–	237,587	–	10.31%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$10,836,000	–	120,655	–	6.29%	–
DE	New	DEERE & CO	$9,890,000	–	59,682	–	5.74%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$9,028,000	–	42,353	–	5.24%	–
AGM	New	FEDERAL AGRIC MTG CORPcl c	$8,585,000	–	118,153	–	4.99%	–
JNJ	New	JOHNSON & JOHNSON	$8,197,000	–	58,854	–	4.76%	–
CNI	New	CANADIAN NATL RAILWAY CO	$7,988,000	–	86,375	–	4.64%	–
TJX	New	TJX COS INC	$7,917,000	–	149,707	–	4.60%	–
GD	New	GENL DYNAMICS CORP	$7,360,000	–	40,482	–	4.27%	–
FMC	New	F M C CORP	$7,207,000	–	86,887	–	4.19%	–
CMI	New	CUMMINS INC	$7,051,000	–	41,150	–	4.10%	–
LH	New	LABORATORY CORP AMER HLDGS	$6,785,000	–	39,240	–	3.94%	–
NYT	New	NEW YORK TIMES COcl a	$6,587,000	–	201,935	–	3.83%	–
APTV	New	APTIV PLC	$6,211,000	–	76,841	–	3.61%	–
HPQ	New	HP INC	$6,069,000	–	291,924	–	3.52%	–
OZK	New	BANK OZK	$6,036,000	–	200,591	–	3.51%	–
EGOV	New	NIC INC	$5,809,000	–	362,155	–	3.37%	–
INGR	New	INGREDION INC	$5,779,000	–	70,061	–	3.36%	–
CL	New	COLGATE PALMOLIVE CO	$4,905,000	–	68,434	–	2.85%	–
HXL	New	HEXCEL CORP NEW	$4,846,000	–	59,920	–	2.81%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,546,000	–	19,013	–	1.48%	–
XOM	New	EXXON MOBIL CORP	$1,625,000	–	21,206	–	0.94%	–
KO	New	COCA COLA INC	$744,000	–	14,604	–	0.43%	–
AAPL	New	APPLE INC	$723,000	–	3,654	–	0.42%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$637,000	–	2	–	0.37%	–
UNP	New	UNION PACIFIC	$617,000	–	3,650	–	0.36%	–
LTHM	New	LIVENT CORP	$577,000	–	83,426	–	0.34%	–
CSCO	New	CISCO SYS	$572,000	–	10,450	–	0.33%	–
AMZN	New	AMAZON INC	$562,000	–	297	–	0.33%	–
PFE	New	PFIZER INC	$557,000	–	12,847	–	0.32%	–
WELL	New	WELLTOWER INC	$542,000	–	6,650	–	0.32%	–
MCD	New	MCDONALDS CORP	$503,000	–	2,422	–	0.29%	–
MSFT	New	MICROSOFT CORP	$486,000	–	3,625	–	0.28%	–
V	New	VISA INC	$476,000	–	2,743	–	0.28%	–
UTX	New	UNITED TECHNOLOGIES CORP	$473,000	–	3,633	–	0.28%	–
ARCC	New	ARES CAPITAL CORP	$448,000	–	24,971	–	0.26%	–
JPM	New	JPMORGAN CHASE & CO	$401,000	–	3,590	–	0.23%	–
ABT	New	ABBOTT LABS	$399,000	–	4,750	–	0.23%	–
MMM	New	3M CO	$390,000	–	2,250	–	0.23%	–
ITW	New	ILLINOIS TOOL WKS INC	$381,000	–	2,525	–	0.22%	–
RTN	New	RAYTHEON CO	$362,000	–	2,080	–	0.21%	–
STZ	New	CONSTELLATION BRANDS INCcl b	$354,000	–	1,800	–	0.21%	–
AMGN	New	AMGEN INC	$346,000	–	1,875	–	0.20%	–
ACN	New	ACCENTURE PLC IRELAND	$342,000	–	1,850	–	0.20%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$337,000	–	3,260	–	0.20%	–
ABBV	New	ABBVIE INC	$324,000	–	4,450	–	0.19%	–
CAT	New	CATERPILLAR INC DEL	$321,000	–	2,355	–	0.19%	–
VFC	New	V F CORP	$271,000	–	3,100	–	0.16%	–
SLB	New	SCHLUMBERGER LTD	$217,000	–	5,450	–	0.13%	–
SO	New	SOUTHERN CO	$210,000	–	3,800	–	0.12%	–
MTB	New	M & T BK CORP	$206,000	–	1,212	–	0.12%	–
APD	New	AIR PROD & CHEMS INC	$204,000	–	900	–	0.12%	–
ATOM	New	ATOMERA INC	$133,000	–	26,420	–	0.08%	–
KOPN	New	KOPIN CORP	$41,000	–	37,835	–	0.02%	–
CTTC	New	CALMARE THERAPEUTICS INC	$16,000	–	161,400	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-161,400	–	-0.01%	–
NAT	Exit	NORDIC AMERICAN TANKERS	$0	–	-17,250	–	-0.02%	–
ATOM	Exit	ATOMERA INC	$0	–	-14,000	–	-0.05%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-13,625	–	-0.09%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-3,384	–	-0.12%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-179	–	-0.12%	–
WELL	Exit	WELLTOWER INC	$0	–	-3,750	–	-0.14%	–
VFC	Exit	V F CORP	$0	–	-3,100	–	-0.17%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,500	–	-0.19%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-1,950	–	-0.19%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,450	–	-0.19%	–
AMGN	Exit	AMGEN INC	$0	–	-1,725	–	-0.21%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-3,200	–	-0.22%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,725	–	-0.22%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,515	–	-0.23%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-2,705	–	-0.24%	–
V	Exit	VISA INC	$0	–	-2,743	–	-0.24%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-24,229	–	-0.24%	–
RTN	Exit	RAYTHEON CO	$0	–	-2,100	–	-0.25%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,731	–	-0.26%	–
MMM	Exit	3M CO	$0	–	-2,450	–	-0.30%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,643	–	-0.31%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-3,868	–	-0.31%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-8,500	–	-0.32%	–
PFE	Exit	PFIZER INC	$0	–	-12,797	–	-0.32%	–
CSCO	Exit	CISCO SYS	$0	–	-12,475	–	-0.35%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-2	–	-0.37%	–
KO	Exit	COCA COLA INC	$0	–	-15,378	–	-0.41%	–
AMZN	Exit	AMAZON INC	$0	–	-408	–	-0.47%	–
UNP	Exit	UNION PACIFIC	$0	–	-5,125	–	-0.48%	–
AAPL	Exit	APPLE INC	$0	–	-4,732	–	-0.62%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-23,800	–	-1.17%	–
TCP	Exit	TC PIPELINES LP	$0	–	-93,993	–	-1.64%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-20,799	–	-1.92%	–
PII	Exit	POLARIS INDS INC	$0	–	-41,185	–	-2.40%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-40,969	–	-2.55%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-67,748	–	-2.61%	–
NYT	Exit	NEW YORK TIMES COcl a	$0	–	-203,215	–	-2.71%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-27,918	–	-2.80%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-43,821	–	-3.27%	–
CMI	Exit	CUMMINS INC	$0	–	-39,936	–	-3.36%	–
APTV	Exit	APTIV PLC	$0	–	-79,288	–	-3.83%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-70,646	–	-3.86%	–
FMC	Exit	F M C CORP	$0	–	-86,406	–	-4.34%	–
HPQ	Exit	HP INC	$0	–	-296,801	–	-4.41%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-86,684	–	-4.49%	–
INGR	Exit	INGREDION INC	$0	–	-77,403	–	-4.68%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-123,221	–	-4.71%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-40,124	–	-4.73%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-60,145	–	-4.79%	–
TJX	Exit	TJX COS INC	$0	–	-75,751	–	-4.89%	–
AGM	Exit	FEDERAL AGRIC MTG CORPcl c	$0	–	-118,426	–	-4.93%	–
DE	Exit	DEERE & CO	$0	–	-60,772	–	-5.27%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-43,268	–	-5.34%	–
CPRT	Exit	COPART INC	$0	–	-258,128	–	-7.67%	–

Q3 2018

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$13,301,000	-9.7%	258,128	-0.9%	7.67%	-13.9%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELclb	$9,264,000	+15.5%	43,268	+0.7%	5.34%	+10.1%
DE	Buy	DEERE & CO	$9,136,000	+8.9%	60,772	+1.2%	5.27%	+3.8%
AGM	Buy	FEDERAL AGRIC MTG CORPcl c	$8,548,000	-18.8%	118,426	+0.6%	4.93%	-22.6%
TJX	Buy	TJX COS INC	$8,486,000	+18.5%	75,751	+0.6%	4.89%	+13.0%
JNJ	Buy	JOHNSON & JOHNSON	$8,310,000	+15.0%	60,145	+1.0%	4.79%	+9.7%
GD	Buy	GENL DYNAMICS CORP	$8,214,000	+10.3%	40,124	+0.5%	4.73%	+5.2%
KEYS	Buy	KEYSIGHT TECHNOLOGIES INC	$8,167,000	+13.9%	123,221	+1.5%	4.71%	+8.6%
INGR	Buy	INGREDION INC	$8,124,000	+7.8%	77,403	+13.7%	4.68%	+2.8%
CNI	Buy	CANADIAN NATL RAILWAY CO	$7,784,000	+10.9%	86,684	+0.9%	4.49%	+5.7%
HPQ	Buy	HP INC	$7,649,000	+15.6%	296,801	+1.8%	4.41%	+10.2%
FMC	Buy	F M C CORP	$7,533,000	-0.1%	86,406	+2.2%	4.34%	-4.8%
COF	Buy	CAPITAL ONE FINL CORP	$6,706,000	+4.6%	70,646	+1.2%	3.86%	-0.3%
APTV	Buy	APTIV PLC	$6,652,000	-6.5%	79,288	+2.2%	3.83%	-10.8%
CMI	Buy	CUMMINS INC	$5,833,000	+12.7%	39,936	+2.6%	3.36%	+7.4%
MIDD	Buy	MIDDLEBY CORP	$5,668,000	+26.2%	43,821	+1.8%	3.27%	+20.3%
LH	Buy	LABORATORY CORP AMER HLDGS	$4,849,000	-0.9%	27,918	+2.4%	2.80%	-5.5%
NYT	Buy	NEW YORK TIMES COcl a	$4,704,000	-6.9%	203,215	+4.2%	2.71%	-11.2%
CL	Buy	COLGATE PALMOLIVE CO	$4,536,000	+5.3%	67,748	+2.0%	2.61%	+0.4%
DGX	Buy	QUEST DIAGNOSTICS INC	$4,421,000	+0.2%	40,969	+2.1%	2.55%	-4.4%
PII	Buy	POLARIS INDS INC	$4,158,000	-15.2%	41,185	+2.6%	2.40%	-19.2%
JKHY	Sell	HENRY JACK & ASSOC INC	$3,329,000	+21.2%	20,799	-1.3%	1.92%	+15.6%
TCP	Buy	TC PIPELINES LP	$2,851,000	+17.9%	93,993	+0.9%	1.64%	+12.4%
XOM	Sell	EXXON MOBIL CORP	$2,024,000	+1.6%	23,800	-1.2%	1.17%	-3.1%
AAPL	Sell	APPLE INC	$1,068,000	+16.7%	4,732	-4.3%	0.62%	+11.4%
UNP	Sell	UNION PACIFIC	$835,000	+14.9%	5,125	-0.1%	0.48%	+9.6%
AMZN	Buy	AMAZON INC	$817,000	+29.5%	408	+10.0%	0.47%	+23.6%
KO	Sell	COCA COLA INC	$710,000	+3.6%	15,378	-1.6%	0.41%	-1.2%
CSCO	Sell	CISCO SYS	$607,000	+12.0%	12,475	-0.9%	0.35%	+6.7%
MSFT	Sell	MICROSOFT CORP	$531,000	+13.7%	4,643	-2.0%	0.31%	+8.5%
MMM	Buy	3M CO	$516,000	+41.8%	2,450	+32.4%	0.30%	+35.0%
ARCC	Buy	ARES CAPITAL CORP	$416,000	+9.8%	24,229	+5.1%	0.24%	+4.8%
JPM	Buy	JPMORGAN CHASE & CO	$397,000	+11.5%	3,515	+2.9%	0.23%	+6.5%
AMGN	Buy	AMGEN INC	$358,000	+17.4%	1,725	+4.5%	0.21%	+12.0%
WELL	Buy	WELLTOWER INC	$241,000	+8.1%	3,750	+5.6%	0.14%	+3.0%
MO	New	ALTRIA GROUP INC	$204,000	–	3,384	–	0.12%	–
GE	New	GENERAL ELECTRIC CO	$154,000	–	13,625	–	0.09%	–
ATOM	New	ATOMERA INC	$84,000	–	14,000	–	0.05%	–
NAT	New	NORDIC AMERICAN TANKERS	$36,000	–	17,250	–	0.02%	–
MTB	Exit	M&T BK CORP	$0	–	-1,212	–	-0.12%	–
NFLX	Exit	NETFLIX INC	$0	–	-538	–	-0.13%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,675	–	-0.21%	–

Q2 2018

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$14,725,000	–	260,350	–	8.90%	–
AGM	New	FEDERAL AGRIC MTG CORPcl c	$10,530,000	–	117,680	–	6.36%	–
DE	New	DEERE & CO	$8,392,000	–	60,029	–	5.07%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$8,020,000	–	42,969	–	4.85%	–
FMC	New	F M C CORP	$7,544,000	–	84,570	–	4.56%	–
INGR	New	INGREDION INC	$7,536,000	–	68,078	–	4.56%	–
GD	New	GENL DYNAMICS CORP	$7,445,000	–	39,939	–	4.50%	–
JNJ	New	JOHNSON & JOHNSON	$7,225,000	–	59,544	–	4.37%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$7,169,000	–	121,450	–	4.33%	–
TJX	New	TJX COS INC	$7,164,000	–	75,273	–	4.33%	–
APTV	New	APTIV PLC	$7,111,000	–	77,605	–	4.30%	–
CNI	New	CANADIAN NATL RAILWAY CO	$7,021,000	–	85,881	–	4.24%	–
HPQ	New	HP INC	$6,618,000	–	291,675	–	4.00%	–
COF	New	CAPITAL ONE FINL CORP	$6,414,000	–	69,794	–	3.88%	–
CMI	New	CUMMINS INC	$5,176,000	–	38,915	–	3.13%	–
NYT	New	NEW YORK TIMES COcl a	$5,051,000	–	195,000	–	3.05%	–
PII	New	POLARIS INDS INC	$4,905,000	–	40,145	–	2.96%	–
LH	New	LABORATORY CORP AMER HLDGS	$4,895,000	–	27,268	–	2.96%	–
MIDD	New	MIDDLEBY CORP	$4,493,000	–	43,026	–	2.72%	–
DGX	New	QUEST DIAGNOSTICS INC	$4,411,000	–	40,119	–	2.67%	–
CL	New	COLGATE PALMOLIVE CO	$4,306,000	–	66,433	–	2.60%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,747,000	–	21,074	–	1.66%	–
TCP	New	TC PIPELINES LP	$2,418,000	–	93,171	–	1.46%	–
XOM	New	EXXON MOBIL CORP	$1,992,000	–	24,078	–	1.20%	–
AAPL	New	APPLE INC	$915,000	–	4,944	–	0.55%	–
UNP	New	UNION PACIFIC	$727,000	–	5,130	–	0.44%	–
KO	New	COCA COLA INC	$685,000	–	15,627	–	0.41%	–
AMZN	New	AMAZON INC	$631,000	–	371	–	0.38%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$564,000	–	2	–	0.34%	–
DWDP	New	DOWDUPONT INC	$560,000	–	8,500	–	0.34%	–
CSCO	New	CISCO SYS	$542,000	–	12,590	–	0.33%	–
UTX	New	UNITED TECHNOLOGIES CORP	$484,000	–	3,868	–	0.29%	–
MSFT	New	MICROSOFT CORP	$467,000	–	4,738	–	0.28%	–
PFE	New	PFIZER INC	$464,000	–	12,797	–	0.28%	–
MCD	New	MCDONALDS CORP	$428,000	–	2,731	–	0.26%	–
RTN	New	RAYTHEON CO	$406,000	–	2,100	–	0.24%	–
ARCC	New	ARES CAPITAL CORP	$379,000	–	23,052	–	0.23%	–
ITW	New	ILLINOIS TOOL WKS INC	$378,000	–	2,725	–	0.23%	–
CAT	New	CATERPILLAR INC DEL	$367,000	–	2,705	–	0.22%	–
SLB	New	SCHLUMBERGER LTD	$365,000	–	5,450	–	0.22%	–
MMM	New	3M CO	$364,000	–	1,850	–	0.22%	–
V	New	VISA INC	$363,000	–	2,743	–	0.22%	–
JPM	New	JPMORGAN CHASE & CO	$356,000	–	3,415	–	0.22%	–
ABBV	New	ABBVIE INC	$340,000	–	3,675	–	0.21%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$340,000	–	3,200	–	0.21%	–
ACN	New	ACCENTURE PLC IRELAND	$319,000	–	1,950	–	0.19%	–
AMGN	New	AMGEN INC	$305,000	–	1,650	–	0.18%	–
ABT	New	ABBOTT LABS	$274,000	–	4,500	–	0.17%	–
VFC	New	V F CORP	$253,000	–	3,100	–	0.15%	–
WELL	New	WELLTOWER INC	$223,000	–	3,550	–	0.14%	–
NFLX	New	NETFLIX INC	$211,000	–	538	–	0.13%	–
MTB	New	M&T BK CORP	$206,000	–	1,212	–	0.12%	–
GOOGL	New	ALPHABET INCcap stk cl a	$202,000	–	179	–	0.12%	–
CTTC	New	CALMARE THERAPEUTICS INC	$16,000	–	161,400	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-50,000	–	-0.00%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-1,329	–	-0.13%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-3,383	–	-0.14%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,750	–	-0.15%	–
MTB	Exit	M&T BK CORP	$0	–	-1,454	–	-0.16%	–
SAN	Exit	BANCO SANTANDER SAadr	$0	–	-35,033	–	-0.16%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,600	–	-0.16%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-2,000	–	-0.18%	–
AAPL	Exit	APPLE INC	$0	–	-1,844	–	-0.19%	–
V	Exit	VISA INC	$0	–	-2,725	–	-0.19%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,590	–	-0.23%	–
AMZN	Exit	AMAZON COM INC	$0	–	-376	–	-0.24%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-3,000	–	-0.25%	–
CSCO	Exit	CISCO SYS	$0	–	-11,080	–	-0.25%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,450	–	-0.25%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-5,138	–	-0.25%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-3,250	–	-0.26%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-16,270	–	-0.26%	–
PFE	Exit	PFIZER INC	$0	–	-11,347	–	-0.27%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,600	–	-0.27%	–
ITW	Exit	ILLIMOIS TOOL WKS INC	$0	–	-2,900	–	-0.28%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-27,079	–	-0.30%	–
RTN	Exit	RAYTHEON CO	$0	–	-2,450	–	-0.30%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-4,068	–	-0.31%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,203	–	-0.33%	–
MMM	Exit	3M CO	$0	–	-2,525	–	-0.35%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-2	–	-0.36%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-6,672	–	-0.40%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-8,777	–	-0.40%	–
KO	Exit	COCA COLA INC	$0	–	-16,289	–	-0.49%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-5,232	–	-0.52%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-25,908	–	-0.57%	–
UNP	Exit	UNION PACIFIC	$0	–	-9,265	–	-0.71%	–
NYT	Exit	NEW YORK TIMES COcl a	$0	–	-99,975	–	-1.30%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-21,777	–	-1.49%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-28,012	–	-1.53%	–
INGR	Exit	INGREDION INC	$0	–	-24,000	–	-1.92%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-37,277	–	-2.32%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-26,940	–	-2.70%	–
PII	Exit	POLARIS INDS INC	$0	–	-39,425	–	-2.74%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-66,264	–	-3.21%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-117,900	–	-3.27%	–
TCP	Exit	TC PIPELINES LP	$0	–	-98,613	–	-3.43%	–
BUD	Exit	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$0	–	-44,931	–	-3.56%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-41,846	–	-3.56%	–
TJX	Exit	TJX COS INC	$0	–	-74,395	–	-3.64%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-70,940	–	-3.99%	–
CMI	Exit	CUMMINS INC	$0	–	-38,550	–	-4.30%	–
CSRA	Exit	CSRA INC	$0	–	-205,358	–	-4.40%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-84,244	–	-4.64%	–
FMC	Exit	F M C CORP	$0	–	-83,290	–	-4.94%	–
DE	Exit	DEERE & CO	$0	–	-62,447	–	-5.21%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-60,497	–	-5.23%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-44,198	–	-5.38%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-40,135	–	-5.48%	–
AGM	Exit	FEDERAL AGRIC MTG CORPcl c	$0	–	-121,535	–	-5.87%	–
CPRT	Exit	COPART INC	$0	–	-285,601	–	-6.52%	–

Q3 2017

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$9,816,000	-0.4%	285,601	-7.8%	6.52%	+2.8%
AGM	Sell	FEDERAL AGRIC MTG CORPcl c	$8,840,000	-7.9%	121,535	-18.1%	5.87%	-5.0%
GD	Sell	GENL DYNAMICS CORP	$8,251,000	-10.0%	40,135	-13.2%	5.48%	-7.1%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$8,102,000	+3.4%	44,198	-4.5%	5.38%	+6.7%
JNJ	Sell	JOHNSON & JOHNSON	$7,865,000	-6.2%	60,497	-4.5%	5.23%	-3.2%
DE	Sell	DEERE & CO	$7,843,000	-4.5%	62,447	-6.0%	5.21%	-1.5%
FMC	Sell	F M C CORP	$7,439,000	+15.7%	83,290	-5.4%	4.94%	+19.3%
CNI	Sell	CANADIAN NATL RAILWAY CO	$6,980,000	-9.7%	84,244	-11.7%	4.64%	-6.8%
CSRA	Sell	CSRA INC	$6,627,000	-4.1%	205,358	-5.6%	4.40%	-1.0%
CMI	Sell	CUMMINS INC	$6,478,000	-1.8%	38,550	-5.2%	4.30%	+1.3%
COF	Sell	CAPITAL ONE FINL CORP	$6,006,000	-0.7%	70,940	-3.1%	3.99%	+2.5%
TJX	Sell	TJX COS INC	$5,485,000	-1.6%	74,395	-3.7%	3.64%	+1.5%
MIDD	Sell	MIDDLEBY CORP	$5,363,000	+2.0%	41,846	-3.3%	3.56%	+5.3%
BUD	Sell	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$5,360,000	+3.7%	44,931	-4.1%	3.56%	+7.0%
TCP	Sell	TC PIPELINES LP	$5,159,000	-9.5%	98,613	-4.8%	3.43%	-6.6%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$4,915,000	+3.6%	117,900	-3.2%	3.27%	+6.9%
CL	Sell	COLGATE PALMOLIVE CO	$4,827,000	-3.4%	66,264	-1.7%	3.21%	-0.3%
PII	Sell	POLARIS INDS INC	$4,125,000	+12.3%	39,425	-1.0%	2.74%	+15.8%
LH	Sell	LABORATORY CORP AMER HLDGS	$4,067,000	-4.5%	26,940	-2.5%	2.70%	-1.4%
DGX	Sell	QUEST DIAGNOSTICS INC	$3,491,000	-18.9%	37,277	-3.7%	2.32%	-16.3%
XOM	Sell	EXXON MOBIL CORP	$2,296,000	-7.1%	28,012	-3.0%	1.53%	-4.1%
JKHY	Sell	HENRY JACK & ASSOC INC	$2,238,000	-5.3%	21,777	-4.3%	1.49%	-2.3%
NYT	Buy	NEW YORK TIMES COcl a	$1,960,000	+13.2%	99,975	+2.2%	1.30%	+16.8%
GT	Sell	GOODYEAR TIRE & RUBR CO	$861,000	-29.7%	25,908	-26.0%	0.57%	-27.5%
WYNN	Buy	WYNN RESORTS LTD	$779,000	+13.9%	5,232	+2.6%	0.52%	+17.7%
KO	Sell	COCA COLA INC	$733,000	-0.5%	16,289	-0.9%	0.49%	+2.5%
DWDP	New	DOWDUPONT INC	$608,000	–	8,777	–	0.40%	–
PG	Buy	PROCTER & GAMBLE CO	$607,000	+4.5%	6,672	+0.0%	0.40%	+7.8%
MCD	Sell	MCDONALDS CORP	$502,000	-2.1%	3,203	-4.4%	0.33%	+1.2%
UTX	Sell	UNITED TECHNOLOGIES CORP	$472,000	-7.3%	4,068	-2.4%	0.31%	-4.3%
ARCC	Sell	ARES CAPITAL CORP	$444,000	-58.8%	27,079	-58.8%	0.30%	-57.5%
ABBV	Sell	ABBVIE INC	$409,000	+19.9%	4,600	-2.1%	0.27%	+23.6%
GE	Sell	GENERAL ELECTRIC CO	$393,000	-26.7%	16,270	-18.1%	0.26%	-24.3%
SLB	Sell	SCHLUMBERGER LTD	$380,000	+4.4%	5,450	-1.4%	0.25%	+7.7%
JPM	Buy	JPMORGAN CHASE & CO	$343,000	+6.9%	3,590	+2.1%	0.23%	+10.1%
V	Sell	VISA INC	$287,000	+1.1%	2,725	-9.9%	0.19%	+4.4%
AAPL	Sell	APPLE INC	$284,000	-61.1%	1,844	-63.7%	0.19%	-59.9%
ABT	Sell	ABBOTT LABS	$245,000	+7.5%	4,600	-2.1%	0.16%	+10.9%
SAN	Buy	BANCO SANTANDER SAadr	$243,000	+6.1%	35,033	+2.3%	0.16%	+9.5%
MTB	Sell	M&T BK CORP	$234,000	-15.8%	1,454	-15.2%	0.16%	-13.4%
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$227,000	–	3,750	–	0.15%	–
MO	Buy	ALTRIA GROUP INC	$215,000	-14.7%	3,383	+0.0%	0.14%	-11.7%
APD	New	AIR PRODS & CHEMS INC	$201,000	–	1,329	–	0.13%	–
UFPI	Exit	UNIVERSAL FST PRODS INC	$0	–	-2,415	–	-0.14%	–
DIS	Exit	DISNEY WALT CO	$0	–	-2,000	–	-0.14%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-3,985	–	-0.21%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,850	–	-0.36%	–

Q2 2017

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$9,851,000	–	309,863	–	6.34%	–
AGM	New	FEDERAL AGRIC MTG CORPcl c	$9,599,000	–	148,362	–	6.18%	–
GD	New	GENL DYNAMICS CORP	$9,165,000	–	46,262	–	5.90%	–
JNJ	New	JOHNSON & JOHNSON	$8,384,000	–	63,376	–	5.40%	–
DE	New	DEERE & CO	$8,213,000	–	66,450	–	5.29%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$7,838,000	–	46,278	–	5.05%	–
CNI	New	CANADIAN NATL RAILWAY CO	$7,732,000	–	95,402	–	4.98%	–
CSRA	New	CSRA INC	$6,907,000	–	217,547	–	4.45%	–
CMI	New	CUMMINS INC	$6,596,000	–	40,659	–	4.25%	–
FMC	New	F M C CORP	$6,432,000	–	88,055	–	4.14%	–
COF	New	CAPITAL ONE FINL CORP	$6,046,000	–	73,181	–	3.89%	–
TCP	New	TC PIPELINES LP	$5,699,000	–	103,616	–	3.67%	–
TJX	New	TJX COS INC	$5,576,000	–	77,260	–	3.59%	–
MIDD	New	MIDDLEBY CORP	$5,256,000	–	43,256	–	3.38%	–
BUD	New	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$5,169,000	–	46,841	–	3.33%	–
CL	New	COLGATE PALMOLIVE CO	$4,997,000	–	67,408	–	3.22%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$4,742,000	–	121,800	–	3.05%	–
DGX	New	QUEST DIAGNOSTICS INC	$4,304,000	–	38,720	–	2.77%	–
LH	New	LABORATORY CORP AMER HLDGS	$4,257,000	–	27,617	–	2.74%	–
PII	New	POLARIS INDS INC	$3,674,000	–	39,830	–	2.37%	–
INGR	New	INGREDION INC	$2,861,000	–	24,000	–	1.84%	–
XOM	New	EXXON MOBIL CORP	$2,472,000	–	28,867	–	1.59%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,363,000	–	22,751	–	1.52%	–
NYT	New	NEW YORK TIMES COcl a	$1,731,000	–	97,805	–	1.12%	–
GT	New	GOODYEAR TIRE & RUBR CO	$1,225,000	–	35,033	–	0.79%	–
ARCC	New	ARES CAPITAL CORP	$1,077,000	–	65,731	–	0.69%	–
UNP	New	UNION PACIFIC	$1,009,000	–	9,265	–	0.65%	–
KO	New	COCA COLA INC	$737,000	–	16,439	–	0.48%	–
AAPL	New	APPLE INC	$731,000	–	5,079	–	0.47%	–
WYNN	New	WYNN RESORTS LTD	$684,000	–	5,101	–	0.44%	–
PG	New	PROCTER & GAMBLE CO	$581,000	–	6,671	–	0.37%	–
DD	New	DU PONT E I DE NEMOURS & CO	$553,000	–	6,850	–	0.36%	–
GE	New	GENERAL ELECTRIC CO	$536,000	–	19,863	–	0.34%	–
MMM	New	3M CO	$526,000	–	2,525	–	0.34%	–
MCD	New	MCDONALDS CORP	$513,000	–	3,352	–	0.33%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$509,000	–	2	–	0.33%	–
UTX	New	UNITED TECHNOLOGIES CORP	$509,000	–	4,168	–	0.33%	–
ITW	New	ILLIMOIS TOOL WKS INC	$415,000	–	2,900	–	0.27%	–
RTN	New	RAYTHEON CO	$396,000	–	2,450	–	0.26%	–
PFE	New	PFIZER INC	$381,000	–	11,347	–	0.24%	–
AMZN	New	AMAZON INC	$364,000	–	376	–	0.23%	–
SLB	New	SCHLUMBERGER LTD	$364,000	–	5,525	–	0.23%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$359,000	–	3,250	–	0.23%	–
MSFT	New	MICROSOFT CORP	$354,000	–	5,138	–	0.23%	–
CSCO	New	CISCO SYS	$347,000	–	11,080	–	0.22%	–
ABBV	New	ABBVIE INC	$341,000	–	4,700	–	0.22%	–
JPM	New	JPMORGAN CHASE & CO	$321,000	–	3,515	–	0.21%	–
CAT	New	CATERPILLAR INC DEL	$322,000	–	3,000	–	0.21%	–
CVS	New	CVS HEALTH CORP	$321,000	–	3,985	–	0.21%	–
V	New	VISA INC	$284,000	–	3,025	–	0.18%	–
MTB	New	M&T BK CORP	$278,000	–	1,714	–	0.18%	–
MO	New	ALTRIA GROUP INC	$252,000	–	3,382	–	0.16%	–
ACN	New	ACCENTURE PLC IRELAND	$247,000	–	2,000	–	0.16%	–
ABT	New	ABBOTT LABS	$228,000	–	4,700	–	0.15%	–
SAN	New	BANCO SANTANDER SAadr	$229,000	–	34,247	–	0.15%	–
DIS	New	DISNEY WALT CO	$213,000	–	2,000	–	0.14%	–
UFPI	New	UNIVERSAL FST PRODS INC	$211,000	–	2,415	–	0.14%	–
CTTC	New	CALMARE THERAPEUTICS INC	$5,000	–	50,000	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-50,000	–	-0.01%	–
SAN	Exit	BANCO SANTANDER SAadr	$0	–	-33,358	–	-0.11%	–
VFC	Exit	V F CORP	$0	–	-3,700	–	-0.15%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-3,382	–	-0.16%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,376	–	-0.16%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,700	–	-0.17%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-2,000	–	-0.18%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-2,900	–	-0.19%	–
V	Exit	VISA INC	$0	–	-3,130	–	-0.19%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,650	–	-0.19%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-2,871	–	-0.20%	–
DIS	Exit	DISNEY WALT CO	$0	–	-3,013	–	-0.20%	–
RTN	Exit	RAYTHEON CO	$0	–	-2,450	–	-0.24%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-3,100	–	-0.25%	–
ITW	Exit	ILLIMOIS TOOL WKS INC	$0	–	-2,900	–	-0.25%	–
CSCO	Exit	CISCO SYS	$0	–	-11,132	–	-0.26%	–
PFE	Exit	PFIZER INC	$0	–	-10,947	–	-0.27%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,497	–	-0.29%	–
AMZN	Exit	AMAZON INC	$0	–	-484	–	-0.29%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-4,068	–	-0.30%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,375	–	-0.31%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-2	–	-0.31%	–
UFPI	Exit	UNIVERSAL FST PRODS INC	$0	–	-4,500	–	-0.32%	–
MMM	Exit	3M CO	$0	–	-2,525	–	-0.32%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,700	–	-0.32%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-5,350	–	-0.34%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-6,567	–	-0.43%	–
AAPL	Exit	APPLE INC	$0	–	-5,399	–	-0.44%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-21,657	–	-0.46%	–
MTB	Exit	M&T BK CORP	$0	–	-6,011	–	-0.51%	–
KO	Exit	COCA COLA INC	$0	–	-16,787	–	-0.51%	–
UNP	Exit	UNION PACIFIC	$0	–	-12,110	–	-0.86%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-45,752	–	-1.07%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-27,247	–	-1.69%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-151,698	–	-1.70%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-30,840	–	-1.95%	–
INGR	Exit	INGREDION INC	$0	–	-24,000	–	-2.31%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-38,450	–	-2.36%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-24,497	–	-2.44%	–
CSRA	Exit	CSRA INC	$0	–	-141,890	–	-2.76%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-64,658	–	-3.47%	–
	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-69,117	–	-3.53%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-69,683	–	-3.63%	–
PX	Exit	PRAXAIR INC	$0	–	-42,113	–	-3.69%	–
CMI	Exit	CUMMINS INC	$0	–	-40,163	–	-3.73%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-41,974	–	-3.76%	–
TJX	Exit	TJX COS INC	$0	–	-75,820	–	-4.11%	–
DE	Exit	DEERE & CO	$0	–	-66,701	–	-4.12%	–
BUD	Exit	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$0	–	-43,394	–	-4.13%	–
STON	Exit	STONEMOR PARTNERS LP	$0	–	-229,452	–	-4.16%	–
TCP	Exit	TC PIPELINES LP	$0	–	-101,162	–	-4.18%	–
AGM	Exit	FEDERAL AGRIC MTG CORPcl c	$0	–	-156,752	–	-4.49%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-96,698	–	-4.58%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-48,054	–	-5.03%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-63,848	–	-5.46%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-50,346	–	-5.66%	–
CPRT	Exit	COPART INC	$0	–	-175,045	–	-6.79%	–

Q3 2016

			Value		Shares		↓ Weighting
CPRT	Sell	COPART INC	$9,375,000	+7.2%	175,045	-1.9%	6.79%	+2.0%
GD	Sell	GENL DYNAMICS CORP	$7,812,000	+10.8%	50,346	-0.6%	5.66%	+5.4%
JNJ	Sell	JOHNSON & JOHNSON	$7,542,000	-3.4%	63,848	-0.8%	5.46%	-8.0%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$6,942,000	-0.7%	48,054	-0.4%	5.03%	-5.5%
CNI	Buy	CANADIAN NATL RAILWAY CO	$6,324,000	+11.1%	96,698	+0.3%	4.58%	+5.7%
AGM	Buy	FEDERAL AGRIC MTG CORPcl c	$6,192,000	+50.9%	156,752	+33.0%	4.49%	+43.6%
TCP	Buy	TC PIPELINES LP	$5,769,000	-0.3%	101,162	+0.1%	4.18%	-5.2%
STON	Sell	STONEMOR PARTNERS LP	$5,745,000	-0.1%	229,452	-0.0%	4.16%	-4.9%
BUD	Buy	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$5,702,000	+0.3%	43,394	+0.5%	4.13%	-4.6%
DE	Sell	DEERE & CO	$5,693,000	+4.5%	66,701	-0.8%	4.12%	-0.6%
TJX	Sell	TJX COS INC	$5,670,000	-3.4%	75,820	-0.3%	4.11%	-8.1%
MIDD	Sell	MIDDLEBY CORP	$5,189,000	+7.0%	41,974	-0.2%	3.76%	+1.8%
CMI	Sell	CUMMINS INC	$5,147,000	+13.8%	40,163	-0.2%	3.73%	+8.3%
PX	Sell	PRAXAIR INC	$5,089,000	+6.4%	42,113	-1.1%	3.69%	+1.2%
COF	Buy	CAPITAL ONE FINL CORP	$5,005,000	+28.9%	69,683	+14.0%	3.63%	+22.7%
	Sell	EXPRESS SCRIPTS HLDG CO	$4,875,000	-7.1%	69,117	-0.2%	3.53%	-11.6%
CL	Sell	COLGATE PALMOLIVE CO	$4,794,000	-8.9%	64,658	-10.1%	3.47%	-13.3%
CSRA	Buy	CSRA INC	$3,817,000	+25.9%	141,890	+9.7%	2.76%	+19.8%
LH	Buy	LABORATORY CORP AMER HLDGS	$3,368,000	+5.7%	24,497	+0.1%	2.44%	+0.5%
DGX	Sell	QUEST DIAGNOSTICS INC	$3,254,000	+3.8%	38,450	-0.1%	2.36%	-1.3%
XOM	Sell	EXXON MOBIL CORP	$2,692,000	-7.7%	30,840	-0.8%	1.95%	-12.1%
ARCC	Buy	ARES CAPITAL CORP	$2,351,000	+12.3%	151,698	+2.9%	1.70%	+6.8%
JKHY	Sell	HENRY JACK & ASSOC INC	$2,331,000	-2.1%	27,247	-0.1%	1.69%	-6.8%
GT	Sell	GOODYEAR TIRE & RUBR CO	$1,478,000	+2.8%	45,752	-18.3%	1.07%	-2.2%
KO	Sell	COCA COLA INC	$710,000	-9.1%	16,787	-2.6%	0.51%	-13.6%
MTB	Sell	M&T BK CORP	$698,000	-2.2%	6,011	-0.4%	0.51%	-7.0%
GE	Sell	GENERAL ELECTRIC CO	$641,000	-14.9%	21,657	-9.5%	0.46%	-19.0%
AAPL	Sell	APPLE INC	$610,000	+16.9%	5,399	-1.1%	0.44%	+11.3%
PG	Buy	PROCTER & GAMBLE CO	$589,000	+5.9%	6,567	+0.0%	0.43%	+0.9%
CVS	Sell	CVS HEALTH CORP	$476,000	-12.0%	5,350	-5.3%	0.34%	-16.3%
AMZN	Buy	AMAZON INC	$405,000	+18.8%	484	+1.7%	0.29%	+12.7%
MCD	Sell	MCDONALDS CORP	$403,000	-29.4%	3,497	-26.3%	0.29%	-32.9%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$339,000	+0.6%	3,100	-0.9%	0.25%	-4.3%
WYNN	Buy	WYNN RESORTS LTD	$280,000	+16.2%	2,871	+7.9%	0.20%	+10.9%
DIS	Buy	DISNEY WALT CO	$280,000	-4.8%	3,013	+0.3%	0.20%	-9.4%
MSFT	Sell	MICROSOFT CORP	$268,000	+11.7%	4,650	-0.9%	0.19%	+6.0%
MO	Buy	ALTRIA GROUP INC	$214,000	-8.2%	3,382	+0.0%	0.16%	-12.4%

Q2 2016

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$8,743,000	–	178,395	–	6.66%	–
JNJ	New	JOHNSON & JOHNSON	$7,804,000	–	64,336	–	5.94%	–
GD	New	GENL DYNAMICS CORP	$7,052,000	–	50,648	–	5.37%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$6,988,000	–	48,264	–	5.32%	–
TJX	New	TJX COS INC	$5,871,000	–	76,015	–	4.47%	–
TCP	New	TC PIPELINES LP	$5,787,000	–	101,074	–	4.41%	–
STON	New	STONEMOR PARTNERS LP	$5,749,000	–	229,513	–	4.38%	–
CNI	New	CANADIAN NATL RAILWAY CO	$5,691,000	–	96,366	–	4.33%	–
BUD	New	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$5,684,000	–	43,164	–	4.33%	–
DE	New	DEERE & CO	$5,450,000	–	67,246	–	4.15%	–
CL	New	COLGATE PALMOLIVE CO	$5,263,000	–	71,901	–	4.01%	–
	New	EXPRESS SCRIPTS HLDG CO	$5,248,000	–	69,234	–	4.00%	–
MIDD	New	MIDDLEBY CORP	$4,849,000	–	42,074	–	3.69%	–
PX	New	PRAXAIR INC	$4,785,000	–	42,575	–	3.64%	–
CMI	New	CUMMINS INC	$4,523,000	–	40,224	–	3.44%	–
AGM	New	FEDERAL AGRIC MTG CORPcl c	$4,104,000	–	117,850	–	3.12%	–
COF	New	CAPITAL ONE FINL CORP	$3,882,000	–	61,127	–	2.96%	–
LH	New	LABORATORY CORP AMER HLDGS	$3,187,000	–	24,468	–	2.43%	–
DGX	New	QUEST DIAGNOSTICS INC	$3,135,000	–	38,507	–	2.39%	–
INGR	New	INGREDION INC	$3,106,000	–	24,000	–	2.36%	–
CSRA	New	CSRA INC	$3,031,000	–	129,378	–	2.31%	–
XOM	New	EXXON MOBIL CORP	$2,915,000	–	31,096	–	2.22%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,380,000	–	27,268	–	1.81%	–
ARCC	New	ARES CAPITAL CORP	$2,094,000	–	147,465	–	1.59%	–
GT	New	GOODYEAR TIRE & RUBR CO	$1,438,000	–	56,032	–	1.10%	–
UNP	New	UNION PACIFIC	$1,057,000	–	12,110	–	0.80%	–
KO	New	COCA COLA INC	$781,000	–	17,237	–	0.60%	–
GE	New	GENERAL ELECTRIC CO	$753,000	–	23,929	–	0.57%	–
MTB	New	M&T BK CORP	$714,000	–	6,036	–	0.54%	–
MCD	New	MCDONALDS CORP	$571,000	–	4,746	–	0.44%	–
PG	New	PROCTER & GAMBLE CO	$556,000	–	6,566	–	0.42%	–
CVS	New	CVS HEALTH CORP	$541,000	–	5,650	–	0.41%	–
AAPL	New	APPLE INC	$522,000	–	5,458	–	0.40%	–
MMM	New	3M CO	$442,000	–	2,525	–	0.34%	–
DD	New	DU PONT E I DE NEMOURS & CO	$434,000	–	6,700	–	0.33%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$434,000	–	2	–	0.33%	–
SLB	New	SCHLUMBERGER LTD	$425,000	–	5,375	–	0.32%	–
UTX	New	UNITED TECHNOLOGIES CORP	$417,000	–	4,068	–	0.32%	–
UFPI	New	UNIVERSAL FST PRODS INC	$417,000	–	4,500	–	0.32%	–
PFE	New	PFIZER INC	$385,000	–	10,947	–	0.29%	–
AMZN	New	AMAZON INC	$341,000	–	476	–	0.26%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$337,000	–	3,129	–	0.26%	–
RTN	New	RAYTHEON CO	$333,000	–	2,450	–	0.25%	–
CSCO	New	CISCO SYS	$319,000	–	11,132	–	0.24%	–
ITW	New	ILLIMOIS TOOL WKS INC	$302,000	–	2,900	–	0.23%	–
DIS	New	DISNEY WALT CO	$294,000	–	3,005	–	0.22%	–
MSFT	New	MICROSOFT CORP	$240,000	–	4,692	–	0.18%	–
WYNN	New	WYNN RESORTS LTD	$241,000	–	2,661	–	0.18%	–
V	New	VISA INC	$232,000	–	3,130	–	0.18%	–
MO	New	ALTRIA GROUP INC	$233,000	–	3,381	–	0.18%	–
ABBV	New	ABBVIE INC	$229,000	–	3,700	–	0.17%	–
VFC	New	V F CORP	$228,000	–	3,700	–	0.17%	–
ACN	New	ACCENTURE PLC IRELAND	$227,000	–	2,000	–	0.17%	–
CAT	New	CATERPILLAR INC DEL	$220,000	–	2,900	–	0.17%	–
JPM	New	JPMORGAN CHASE & CO	$210,000	–	3,376	–	0.16%	–
SAN	New	BANCO SANTANDER SAadr	$131,000	–	33,358	–	0.10%	–
CTTC	New	CALMARE THERAPEUTICS INC	$12,000	–	50,000	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
CTTC	Exit	CALMARE THERAPEUTICS INC	$0	–	-20,000	–	-0.00%	–
SAN	Exit	BANCO SANTANDER SAadr	$0	–	-33,040	–	-0.13%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,366	–	-0.15%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,900	–	-0.16%	–
VFC	Exit	V F CORP	$0	–	-3,350	–	-0.17%	–
ITW	Exit	ILLIMOIS TOOL WKS INC	$0	–	-2,900	–	-0.18%	–
PCL	Exit	PLUM CREEK TIMBER CO INC	$0	–	-7,997	–	-0.18%	–
PFE	Exit	PFIZER INC	$0	–	-7,997	–	-0.19%	–
UFPI	Exit	UNIVERSAL FST PRODS INC	$0	–	-4,500	–	-0.19%	–
RTN	Exit	RAYTHEON CO	$0	–	-2,450	–	-0.20%	–
CSCO	Exit	CISCO SYS	$0	–	-10,582	–	-0.21%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,500	–	-0.23%	–
UPS	Exit	UNITED PARCEL SSERVICE INCcl b	$0	–	-3,200	–	-0.24%	–
DIS	Exit	DISNEY WALT CO	$0	–	-3,097	–	-0.24%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-4,068	–	-0.27%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,575	–	-0.29%	–
MMM	Exit	3M CO	$0	–	-2,725	–	-0.29%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-3,087	–	-0.33%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-6,783	–	-0.36%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-22,262	–	-0.42%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-3	–	-0.44%	–
AAPL	Exit	APPLE INC	$0	–	-5,400	–	-0.44%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-6,400	–	-0.46%	–
MCD	Exit	MCDONALDS CORP	$0	–	-6,351	–	-0.47%	–
LINEQ	Exit	LINN ENERGY LLCunit ltd liab	$0	–	-242,279	–	-0.49%	–
KO	Exit	COCA COLA INC	$0	–	-18,815	–	-0.56%	–
MTB	Exit	M&T BK CORP	$0	–	-7,017	–	-0.64%	–
UNP	Exit	UNION PACIFIC	$0	–	-12,500	–	-0.82%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-137,809	–	-1.49%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-36,740	–	-1.50%	–
INGR	Exit	INGREDION INC	$0	–	-24,090	–	-1.57%	–
DAR	Exit	DARLING INGREDIENTS INC	$0	–	-191,330	–	-1.60%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-41,891	–	-1.92%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-37,394	–	-1.94%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-25,569	–	-2.07%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-38,391	–	-2.13%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-104,007	–	-2.27%	–
PX	Exit	PRAXAIR INC	$0	–	-48,411	–	-3.68%	–
CMI	Exit	CUMMINS INC	$0	–	-45,797	–	-3.71%	–
BUD	Exit	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$0	–	-49,010	–	-3.88%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-72,354	–	-3.91%	–
TCP	Exit	TC PIPELINES LP	$0	–	-113,056	–	-4.01%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-84,930	–	-4.02%	–
DE	Exit	DEERE & CO	$0	–	-75,690	–	-4.17%	–
TJX	Exit	TJX COS INC	$0	–	-89,207	–	-4.74%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-112,048	–	-4.74%	–
STON	Exit	STONEMOR PARTNERS LP	$0	–	-236,354	–	-4.80%	–
	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-80,459	–	-4.86%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-64,969	–	-5.09%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-80,283	–	-5.58%	–
CPRT	Exit	COPART INC	$0	–	-227,895	–	-5.59%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-58,594	–	-5.70%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-61,164	–	-6.29%	–

Q3 2015

			Value		Shares		↓ Weighting
GD	Sell	GENL DYNAMICS CORP	$8,438,000	-7.0%	61,164	-4.5%	6.29%	+4.9%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$7,641,000	-6.6%	58,594	-2.6%	5.70%	+5.2%
CPRT	Sell	COPART INC	$7,498,000	-9.5%	227,895	-2.4%	5.59%	+2.0%
JNJ	Sell	JOHNSON & JOHNSON	$7,494,000	-6.9%	80,283	-2.8%	5.58%	+4.9%
MIDD	Sell	MIDDLEBY CORP	$6,834,000	-13.1%	64,969	-7.3%	5.09%	-2.0%
	Sell	EXPRESS SCRIPTS HLDG CO	$6,514,000	-11.2%	80,459	-2.4%	4.86%	+0.1%
STON	Buy	STONEMOR PARTNERS LP	$6,448,000	-3.0%	236,354	+7.2%	4.80%	+9.3%
CNI	Sell	CANADIAN NATL RAILWAY CO	$6,360,000	-3.8%	112,048	-2.1%	4.74%	+8.5%
TJX	Sell	TJX COS INC	$6,358,000	+5.2%	89,207	-2.3%	4.74%	+18.6%
DE	Buy	DEERE & CO	$5,601,000	-15.2%	75,690	+11.2%	4.17%	-4.4%
CL	Sell	COLGATE PALMOLIVE CO	$5,390,000	-5.3%	84,930	-2.4%	4.02%	+6.7%
TCP	Buy	TC PIPELINES LP	$5,383,000	-15.4%	113,056	+1.3%	4.01%	-4.6%
COF	Sell	CAPITAL ONE FINL CORP	$5,247,000	-19.4%	72,354	-2.2%	3.91%	-9.1%
BUD	Sell	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$5,211,000	-13.4%	49,010	-1.7%	3.88%	-2.4%
CMI	Sell	CUMMINS INC	$4,973,000	-19.0%	45,797	-2.1%	3.71%	-8.7%
PX	Sell	PRAXAIR INC	$4,931,000	-16.3%	48,411	-1.8%	3.68%	-5.7%
GT	Buy	GOODYEAR TIRE & RUBR CO	$3,051,000	-0.7%	104,007	+2.1%	2.27%	+12.0%
XOM	Sell	EXXON MOBIL CORP	$2,854,000	-12.4%	38,391	-1.9%	2.13%	-1.2%
LH	Sell	LABORATORY CORP AMER HLDGS	$2,773,000	-10.7%	25,569	-0.2%	2.07%	+0.6%
DGX	Sell	QUEST DIAGNOSTICS INC	$2,575,000	-16.3%	41,891	-1.3%	1.92%	-5.7%
DAR	Sell	DARLING INGREDIENTS INC	$2,151,000	-49.5%	191,330	-34.2%	1.60%	-43.1%
HOG	Sell	HARLEY DAVIDSON INC	$2,017,000	-3.8%	36,740	-1.2%	1.50%	+8.4%
ARCC	Buy	ARES CAPITAL CORP	$1,995,000	-8.0%	137,809	+4.6%	1.49%	+3.7%
MTB	Sell	M&T BK CORP	$856,000	-2.7%	7,017	-0.4%	0.64%	+9.6%
KO	Sell	COCA COLA INC	$755,000	-3.7%	18,815	-5.8%	0.56%	+8.7%
LINEQ	Sell	LINN ENERGY LLCunit ltd liab	$652,000	-72.6%	242,279	-9.2%	0.49%	-69.1%
MCD	Sell	MCDONALDS CORP	$626,000	-4.3%	6,351	-7.6%	0.47%	+8.1%
AAPL	Sell	APPLE INC	$596,000	-15.7%	5,400	-4.2%	0.44%	-4.9%
GE	Buy	GENERAL ELECTRIC CO	$561,000	+17.4%	22,262	+23.6%	0.42%	+32.3%
PG	Sell	PROCTER & GAMBLE CO	$488,000	-15.7%	6,783	-8.4%	0.36%	-5.0%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$448,000	-11.1%	3,087	-0.3%	0.33%	+0.3%
SLB	Sell	SCHLUMBERGER LTD	$385,000	-20.5%	5,575	-0.7%	0.29%	-10.3%
DIS	Buy	DISNEY WALT CO	$317,000	-0.6%	3,097	+11.0%	0.24%	+11.8%
CSCO	Sell	CISCO SYS	$278,000	-4.8%	10,582	-0.5%	0.21%	+7.3%
RTN	New	RAYTHEON CO	$268,000	–	2,450	–	0.20%	–
PCL	Buy	PLUM CREEK TIMBER CO INC	$242,000	-14.2%	7,997	+14.9%	0.18%	-3.2%
ITW	New	ILLIMOIS TOOL WKS INC	$239,000	–	2,900	–	0.18%	–
VFC	New	V F CORP	$229,000	–	3,350	–	0.17%	–
CTTC	Buy	CALMARE THERAPEUTICS INC	$5,000	+66.7%	20,000	+100.0%	0.00%	+100.0%
ABT	Exit	ABBOTT LABS	$0	–	-4,200	–	-0.14%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-2,550	–	-0.14%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,475	–	-0.15%	–
WPZ	Exit	WILLIAMS PARTNERS L P NEW	$0	–	-6,440	–	-0.21%	–

Q2 2015

			Value		Shares		↓ Weighting
GD	New	GENL DYNAMICS CORP	$9,071,000	–	64,017	–	6.00%	–
CPRT	New	COPART INC	$8,286,000	–	233,528	–	5.48%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$8,184,000	–	60,128	–	5.41%	–
JNJ	New	JOHNSON & JOHNSON	$8,050,000	–	82,597	–	5.32%	–
MIDD	New	MIDDLEBY CORP	$7,863,000	–	70,059	–	5.20%	–
	New	EXPRESS SCRIPTS HLDG CO	$7,336,000	–	82,477	–	4.85%	–
STON	New	STONEMOR PARTNERS LP	$6,647,000	–	220,463	–	4.40%	–
CNI	New	CANADIAN NATL RAILWAY CO	$6,608,000	–	114,421	–	4.37%	–
DE	New	DEERE & CO	$6,607,000	–	68,083	–	4.37%	–
COF	New	CAPITAL ONE FINL CORP	$6,509,000	–	73,995	–	4.30%	–
TCP	New	TC PIPELINES LP	$6,363,000	–	111,637	–	4.21%	–
CMI	New	CUMMINS INC	$6,139,000	–	46,793	–	4.06%	–
TJX	New	TJX COS INC	$6,044,000	–	91,346	–	4.00%	–
BUD	New	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$6,017,000	–	49,860	–	3.98%	–
PX	New	PRAXAIR INC	$5,894,000	–	49,302	–	3.90%	–
CL	New	COLGATE PALMOLIVE CO	$5,693,000	–	87,039	–	3.76%	–
DAR	New	DARLING INGREDIENTS INC	$4,261,000	–	290,639	–	2.82%	–
XOM	New	EXXON MOBIL CORP	$3,257,000	–	39,141	–	2.15%	–
LH	New	LABORATORY CORP AMER HLDGS	$3,106,000	–	25,623	–	2.05%	–
DGX	New	QUEST DIAGNOSTICS INC	$3,076,000	–	42,422	–	2.03%	–
GT	New	GOODYEAR TIRE & RUBR CO	$3,071,000	–	101,870	–	2.03%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,419,000	–	37,394	–	1.60%	–
LINEQ	New	LINN ENERGY LLCunit ltd liab	$2,376,000	–	266,719	–	1.57%	–
ARCC	New	ARES CAPITAL CORP	$2,169,000	–	131,784	–	1.43%	–
HOG	New	HARLEY DAVIDSON INC	$2,096,000	–	37,197	–	1.39%	–
INGR	New	INGREDION INC	$1,923,000	–	24,090	–	1.27%	–
UNP	New	UNION PACIFIC	$1,192,000	–	12,500	–	0.79%	–
MTB	New	M&T BK CORP	$880,000	–	7,047	–	0.58%	–
KO	New	COCA COLA INC	$784,000	–	19,980	–	0.52%	–
AAPL	New	APPLE INC	$707,000	–	5,639	–	0.47%	–
CVS	New	CVS HEALTH CORP	$671,000	–	6,400	–	0.44%	–
MCD	New	MCDONALDS CORP	$654,000	–	6,875	–	0.43%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$615,000	–	3	–	0.41%	–
PG	New	PROCTER & GAMBLE CO	$579,000	–	7,407	–	0.38%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$504,000	–	3,097	–	0.33%	–
SLB	New	SCHLUMBERGER LTD	$484,000	–	5,615	–	0.32%	–
GE	New	GENERAL ELECTRIC CO	$478,000	–	18,005	–	0.32%	–
UTX	New	UNITED TECHNOLOGIES CORP	$451,000	–	4,068	–	0.30%	–
MMM	New	3M CO	$420,000	–	2,725	–	0.28%	–
DD	New	DU PONT E I DE NEMOURS & CO	$416,000	–	6,500	–	0.28%	–
DIS	New	DISNEY WALT CO	$319,000	–	2,791	–	0.21%	–
WPZ	New	WILLIAMS PARTNERS L P NEW	$312,000	–	6,440	–	0.21%	–
UPS	New	UNITED PARCEL SSERVICE INCcl b	$310,000	–	3,200	–	0.20%	–
CSCO	New	CISCO SYS	$292,000	–	10,632	–	0.19%	–
PCL	New	PLUM CREEK TIMBER CO INC	$282,000	–	6,961	–	0.19%	–
PFE	New	PFIZER INC	$268,000	–	7,997	–	0.18%	–
UFPI	New	UNIVERSAL FST PRODS INC	$234,000	–	4,500	–	0.16%	–
ABBV	New	ABBVIE INC	$233,000	–	3,475	–	0.15%	–
SAN	New	BANCO SANTANDER SAadr	$232,000	–	33,040	–	0.15%	–
JPM	New	JPMORGAN CHASE & CO	$228,000	–	3,366	–	0.15%	–
CAT	New	CATERPILLAR INC DEL	$216,000	–	2,550	–	0.14%	–
MSFT	New	MICROSOFT CORP	$216,000	–	4,900	–	0.14%	–
ABT	New	ABBOTT LABS	$206,000	–	4,200	–	0.14%	–
CTTC	New	CALMARE THERAPEUTICS INC	$3,000	–	10,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
ABBV	Exit	ABBVIE INC	$0	–	-3,475	–	-0.14%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-2,725	–	-0.14%	–
ABT	Exit	ABBOTT LABS	$0	–	-5,450	–	-0.15%	–
PFE	Exit	PFIZER INC	$0	–	-7,747	–	-0.15%	–
DIS	Exit	DISNEY (Walt) Co	$0	–	-2,730	–	-0.16%	–
CSCO	Exit	CISCO SYS	$0	–	-10,000	–	-0.17%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-2,550	–	-0.17%	–
SAN	Exit	BANCO SANTANDER SAadr	$0	–	-30,000	–	-0.19%	–
UPS	Exit	UNITED PARCEL SSERVICE INCcl b	$0	–	-3,200	–	-0.21%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-7,400	–	-0.23%	–
MMM	Exit	3M CO	$0	–	-2,841	–	-0.27%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-7,940	–	-0.27%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-16,717	–	-0.29%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-4,168	–	-0.30%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,500	–	-0.31%	–
L109PS	Exit	ACCESS MIDSTREAM PARTNRS LPunit	$0	–	-7,350	–	-0.32%	–
PCL	Exit	PLUM CREEK TIMBER CO INC	$0	–	-12,447	–	-0.33%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-6,400	–	-0.34%	–
AAPL	Exit	APPLE INC	$0	–	-5,584	–	-0.38%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,615	–	-0.38%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-3	–	-0.42%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-8,228	–	-0.46%	–
AZZ	Exit	AZZ INC	$0	–	-17,589	–	-0.50%	–
FI	Exit	FRANKS INTL N V	$0	–	-40,985	–	-0.52%	–
MTB	Exit	M&T BK CORP	$0	–	-7,216	–	-0.60%	–
4945SC	Exit	KINDER MORGAN ENERGY PARTNERut ltd partner	$0	–	-10,115	–	-0.64%	–
UNP	Exit	UNION PACIFIC	$0	–	-12,600	–	-0.92%	–
INGR	Exit	INGREDION INC	$0	–	-24,090	–	-1.23%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-38,073	–	-1.43%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-38,547	–	-1.51%	–
KO	Exit	COCA COLA INC	$0	–	-67,347	–	-1.94%	–
PSMT	Exit	PRICESMART INC	$0	–	-34,223	–	-1.98%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-42,053	–	-2.67%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-55,646	–	-3.06%	–
MCD	Exit	MCDONALDS CORP	$0	–	-55,776	–	-3.57%	–
DAR	Exit	DARLING INTL	$0	–	-295,765	–	-3.65%	–
BUD	Exit	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$0	–	-50,705	–	-3.79%	–
CMI	Exit	CUMMINS INC	$0	–	-44,430	–	-3.96%	–
STON	Exit	STONEMOR PARTNERS LP	$0	–	-228,019	–	-3.97%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-31,124	–	-3.98%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-90,617	–	-3.99%	–
LINEQ	Exit	LINN ENERGY LLCunit ltd liab	$0	–	-196,344	–	-3.99%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-368,000	–	-4.01%	–
	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-85,770	–	-4.09%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-74,557	–	-4.43%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-108,239	–	-5.18%	–
CPRT	Exit	COPART INC	$0	–	-245,649	–	-5.19%	–
TCP	Exit	TC PIPELINES LP	$0	–	-118,857	–	-5.43%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-68,988	–	-5.91%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-63,751	–	-5.94%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-85,229	–	-6.13%	–

Q3 2014

			Value		Shares		↓ Weighting
JNJ	Sell	JOHNSON & JOHNSON	$9,085,000	+1.8%	85,229	-0.1%	6.13%	+6.9%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$8,807,000	+9.0%	63,751	-0.1%	5.94%	+14.4%
GD	Buy	GENL DYNAMICS CORP	$8,768,000	+9.1%	68,988	+0.1%	5.91%	+14.6%
TCP	Buy	TC PIPELINES LP	$8,048,000	+33.4%	118,857	+1.8%	5.43%	+40.0%
CPRT	Sell	COPART INC	$7,692,000	-13.2%	245,649	-0.3%	5.19%	-8.9%
CNI	Sell	CANADIAN NATL RAILWAY CO	$7,681,000	+1.4%	108,239	-7.1%	5.18%	+6.4%
MIDD	Sell	MIDDLEBY CORP	$6,571,000	+6.2%	74,557	-0.3%	4.43%	+11.5%
	Buy	EXPRESS SCRIPTS HLDG CO	$6,058,000	+3.0%	85,770	+1.1%	4.09%	+8.1%
ARCC	Buy	ARES CAPITAL CORP	$5,947,000	-8.8%	368,000	+0.8%	4.01%	-4.2%
LINEQ	Buy	LINN ENERGY LLCunit ltd liab	$5,918,000	-6.1%	196,344	+0.8%	3.99%	-1.4%
CL	Sell	COLGATE PALMOLIVE CO	$5,910,000	-4.9%	90,617	-0.6%	3.99%	-0.2%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$5,908,000	+5.6%	31,124	+0.8%	3.98%	+10.8%
STON	Buy	STONEMOR PARTNERS LP	$5,881,000	+7.4%	228,019	+0.9%	3.97%	+12.8%
CMI	Sell	CUMMINS INC	$5,864,000	-20.6%	44,430	-7.2%	3.96%	-16.6%
BUD	New	ANHEUSER-BUSCH INBEV SA/NVsponsored adr	$5,621,000	–	50,705	–	3.79%	–
DAR	Buy	DARLING INTL	$5,418,000	-11.8%	295,765	+0.7%	3.65%	-7.4%
MCD	Sell	MCDONALDS CORP	$5,288,000	-9.4%	55,776	-3.7%	3.57%	-4.9%
COF	Buy	CAPITAL ONE FINL CORP	$4,542,000	-0.7%	55,646	+0.5%	3.06%	+4.3%
XOM	Sell	EXXON MOBIL CORP	$3,955,000	-7.7%	42,053	-1.2%	2.67%	-3.1%
PSMT	Sell	PRICESMART INC	$2,931,000	-2.9%	34,223	-1.3%	1.98%	+2.0%
KO	Sell	COCA COLA INC	$2,873,000	-55.7%	67,347	-56.0%	1.94%	-53.5%
HOG	Buy	HARLEY DAVIDSON INC	$2,243,000	-16.7%	38,547	+0.0%	1.51%	-12.5%
JKHY	Buy	HENRY JACK & ASSOC INC	$2,119,000	-6.3%	38,073	+0.0%	1.43%	-1.7%
4945SC	Buy	KINDER MORGAN ENERGY PARTNERut ltd partner	$944,000	+19.0%	10,115	+4.9%	0.64%	+24.9%
FI	Sell	FRANKS INTL N V	$766,000	-67.2%	40,985	-56.8%	0.52%	-65.6%
AZZ	Sell	AZZ INC	$735,000	-87.7%	17,589	-86.5%	0.50%	-87.1%
PG	Sell	PROCTER & GAMBLE CO	$689,000	+2.2%	8,228	-4.1%	0.46%	+7.4%
SLB	Sell	SCHLUMBERGER LTD	$571,000	-16.8%	5,615	-3.4%	0.38%	-12.7%
AAPL	Sell	APPLE INC	$563,000	+5.2%	5,584	-3.0%	0.38%	+10.5%
PCL	Sell	PLUM CREEK TIMBER CO INC	$486,000	-72.9%	12,447	-68.7%	0.33%	-71.5%
DD	Sell	DU PONT E I DE NEMOURS & CO	$466,000	+3.1%	6,500	-5.8%	0.31%	+8.3%
GE	Sell	GENERAL ELECTRIC CO	$428,000	-4.9%	16,717	-2.5%	0.29%	0.0%
BMY	New	BRISTOL MYERS SQUIBB CO	$406,000	–	7,940	–	0.27%	–
MMM	Sell	3M CO	$403,000	-3.6%	2,841	-2.6%	0.27%	+1.1%
MSFT	Sell	MICROSOFT CORP	$343,000	+5.5%	7,400	-5.1%	0.23%	+10.5%
SAN	Buy	BANCO SANTANDER SAadr	$285,000	-3.4%	30,000	+5.9%	0.19%	+1.1%
CAT	Sell	CATERPILLAR INC DEL	$253,000	-13.7%	2,550	-5.6%	0.17%	-9.0%
CSCO	Sell	CISCO SYS	$252,000	-3.4%	10,000	-4.8%	0.17%	+1.2%
DIS	Sell	DISNEY (Walt) Co	$243,000	0.0%	2,730	-3.5%	0.16%	+5.1%
ABT	Sell	ABBOTT LABS	$227,000	-3.0%	5,450	-4.8%	0.15%	+2.0%
ABBV	Sell	ABBVIE INC	$201,000	-24.7%	3,475	-26.5%	0.14%	-20.9%
UFPI	Exit	UNIVERSAL FST PRODS INC	$0	–	-4,500	–	-0.14%	–
EVEPQ	Exit	EV ENERGY PARTNERS L P	$0	–	-6,826	–	-0.17%	–

Q2 2014

			Value		Shares		↓ Weighting
JNJ	New	JOHNSON & JOHNSON	$8,926,000	–	85,320	–	5.74%	–
CPRT	New	COPART INC	$8,859,000	–	246,349	–	5.69%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$8,080,000	–	63,841	–	5.19%	–
GD	New	GENL DYNAMICS CORP	$8,033,000	–	68,921	–	5.16%	–
CNI	New	CANADIAN NATL RAILWAY CO	$7,577,000	–	116,526	–	4.87%	–
CMI	New	CUMMINS INC	$7,385,000	–	47,866	–	4.74%	–
ARCC	New	ARES CAPITAL CORP	$6,520,000	–	365,056	–	4.19%	–
KO	New	COCA COLA INC	$6,487,000	–	153,147	–	4.17%	–
LINEQ	New	LINN ENERGY LLCunit ltd liab	$6,303,000	–	194,824	–	4.05%	–
CL	New	COLGATE PALMOLIVE CO	$6,217,000	–	91,188	–	4.00%	–
MIDD	New	MIDDLEBY CORP	$6,185,000	–	74,772	–	3.97%	–
DAR	New	DARLING INTL	$6,140,000	–	293,780	–	3.94%	–
TCP	New	TC PIPELINES LP	$6,032,000	–	116,765	–	3.88%	–
AZZ	New	AZZ INC	$5,989,000	–	129,961	–	3.85%	–
	New	EXPRESS SCRIPTS HLDG CO	$5,883,000	–	84,850	–	3.78%	–
MCD	New	MCDONALDS CORP	$5,837,000	–	57,937	–	3.75%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$5,597,000	–	30,878	–	3.60%	–
STON	New	STONEMOR PARTNERS LP	$5,474,000	–	225,924	–	3.52%	–
COF	New	CAPITAL ONE FINL CORP	$4,572,000	–	55,350	–	2.94%	–
XOM	New	EXXON MOBIL CORP	$4,287,000	–	42,577	–	2.75%	–
PSMT	New	PRICESMART INC	$3,017,000	–	34,662	–	1.94%	–
HOG	New	HARLEY DAVIDSON INC	$2,692,000	–	38,534	–	1.73%	–
FI	New	FRANKS INTL N V	$2,336,000	–	94,960	–	1.50%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,262,000	–	38,070	–	1.45%	–
INGR	New	INGREDION INC	$1,808,000	–	24,090	–	1.16%	–
PCL	New	PLUM CREEK TIMBER CO INC	$1,793,000	–	39,759	–	1.15%	–
UNP	New	UNION PACIFIC	$1,257,000	–	12,600	–	0.81%	–
MTB	New	M&T BK CORP	$895,000	–	7,216	–	0.58%	–
4945SC	New	KINDER MORGAN ENERGY PARTNERut ltd partner	$793,000	–	9,645	–	0.51%	–
SLB	New	SCHLUMBERGER LTD	$686,000	–	5,815	–	0.44%	–
PG	New	PROCTER & GAMBLE CO	$674,000	–	8,577	–	0.43%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$570,000	–	3	–	0.37%	–
AAPL	New	APPLE INC	$535,000	–	5,758	–	0.34%	–
CVS	New	CVS CAREMARK CORPORATION	$482,000	–	6,400	–	0.31%	–
UTX	New	UNITED TECHNOLOGIES CORP	$481,000	–	4,168	–	0.31%	–
L109PS	New	ACCESS MIDSTREAM PARTNRS LPunit	$467,000	–	7,350	–	0.30%	–
DD	New	DU PONT E I DE NEMOURS & CO	$452,000	–	6,900	–	0.29%	–
GE	New	GENERAL ELECTRIC CO	$450,000	–	17,140	–	0.29%	–
MMM	New	3M CO	$418,000	–	2,916	–	0.27%	–
UPS	New	UNITED PARCEL SSERVICE INCcl b	$329,000	–	3,200	–	0.21%	–
MSFT	New	MICROSOFT CORP	$325,000	–	7,800	–	0.21%	–
SAN	New	BANCO SANTANDER SAadr	$295,000	–	28,322	–	0.19%	–
CAT	New	CATERPILLAR INC DEL	$293,000	–	2,700	–	0.19%	–
EVEPQ	New	EV ENERGY PARTNERS L P	$270,000	–	6,826	–	0.17%	–
ABBV	New	ABBVIE INC	$267,000	–	4,725	–	0.17%	–
CSCO	New	CISCO SYS	$261,000	–	10,500	–	0.17%	–
DIS	New	DISNEY (Walt) Co	$243,000	–	2,830	–	0.16%	–
ABT	New	ABBOTT LABS	$234,000	–	5,725	–	0.15%	–
PFE	New	PFIZER INC	$230,000	–	7,747	–	0.15%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$224,000	–	2,725	–	0.14%	–
UFPI	New	UNIVERSAL FST PRODS INC	$217,000	–	4,500	–	0.14%	–

Q4 2013

			Value		Shares		↓ Weighting
	Exit	TITAN MED INC	$0	–	-10,000	–	-0.00%	–
SAN	Exit	BANCO SANTANDER SAadr	$0	–	-24,710	–	-0.15%	–
UFPI	Exit	UNIVERSAL FST PRODS INC	$0	–	-5,000	–	-0.16%	–
	Exit	ABBVIE INC	$0	–	-4,825	–	-0.16%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-2,104	–	-0.16%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-2,700	–	-0.17%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-9,296	–	-0.23%	–
UPS	Exit	UNITED PARCEL SSERVICE INCcl b	$0	–	-3,500	–	-0.24%	–
MMM	Exit	3M CO	$0	–	-2,966	–	-0.26%	–
L109PS	Exit	ACCESS MIDSTREAM PARTNRS LPunit	$0	–	-7,400	–	-0.26%	–
COSWF	Exit	CANADIAN OIL SANDS LTD (NEW) SHS	$0	–	-18,879	–	-0.27%	–
CVS	Exit	CVS CAREMARK CORP	$0	–	-6,550	–	-0.27%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-16,837	–	-0.30%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,900	–	-0.30%	–
AAPL	Exit	APPLE INC	$0	–	-871	–	-0.31%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-4,168	–	-0.33%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcla	$0	–	-3	–	-0.38%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,960	–	-0.39%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-7,929	–	-0.44%	–
MTB	Exit	M&T BK CORP	$0	–	-7,280	–	-0.60%	–
UNP	Exit	UNION PACIFIC	$0	–	-6,500	–	-0.74%	–
EVEPQ	Exit	EV ENERGY PARTNERS L P	$0	–	-34,834	–	-0.95%	–
INGR	Exit	INGREDION INC	$0	–	-24,090	–	-1.18%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-38,298	–	-1.46%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-37,741	–	-1.79%	–
LINEQ	Exit	LINN ENERGY LLCunit ltd liab	$0	–	-127,913	–	-2.45%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-38,608	–	-2.45%	–
PSMT	Exit	PRICESMART INC	$0	–	-36,152	–	-2.54%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-53,400	–	-2.71%	–
PCL	Exit	PLUM CREEK TIMBER CO INC	$0	–	-90,914	–	-3.14%	–
STON	Exit	STONEMOR PARTNERS LP	$0	–	-221,046	–	-3.86%	–
AZZ	Exit	AZZ INC	$0	–	-128,576	–	-3.97%	–
TCP	Exit	TC PIPELINES LP	$0	–	-116,569	–	-4.19%	–
CNI	Exit	CANADIAN NATL RAILWAY CO	$0	–	-57,740	–	-4.32%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-32,238	–	-4.40%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-100,922	–	-4.42%	–
GD	Exit	GENL DYNAMICS CORP	$0	–	-68,468	–	-4.42%	–
DAR	Exit	DARLING INTL	$0	–	-289,705	–	-4.52%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-356,253	–	-4.54%	–
KO	Exit	COCA COLA INC	$0	–	-165,816	–	-4.63%	–
CMI	Exit	CUMMINS INC	$0	–	-48,416	–	-4.75%	–
MCD	Exit	MCDONALDS CORP	$0	–	-72,302	–	-5.13%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELclb	$0	–	-63,132	–	-5.29%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-35,135	–	-5.42%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-86,372	–	-5.52%	–
CPRT	Exit	COPART INC	$0	–	-249,322	–	-5.85%	–

Q3 2013

			Value		Shares		↓ Weighting
CPRT	Buy	COPART INC	$7,926,000	+3.3%	249,322	+0.0%	5.85%	+0.6%
JNJ	Sell	JOHNSON & JOHNSON	$7,488,000	+0.9%	86,372	-0.0%	5.52%	-1.6%
MIDD	Sell	MIDDLEBY CORP	$7,340,000	+21.8%	35,135	-0.8%	5.42%	+18.7%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELclb	$7,166,000	+0.3%	63,132	-1.2%	5.29%	-2.3%
MCD	Sell	MCDONALDS CORP	$6,956,000	-3.5%	72,302	-0.7%	5.13%	-6.0%
CMI	Sell	CUMMINS INC	$6,433,000	+21.8%	48,416	-0.5%	4.75%	+18.7%
KO	Sell	COCA COLA INC	$6,281,000	-6.0%	165,816	-0.5%	4.63%	-8.4%
ARCC	Sell	ARES CAPITAL CORP	$6,160,000	+0.2%	356,253	-0.3%	4.54%	-2.3%
DAR	Sell	DARLING INTL	$6,130,000	+12.9%	289,705	-0.5%	4.52%	+10.0%
GD	Sell	GENL DYNAMICS CORP	$5,992,000	+11.1%	68,468	-0.6%	4.42%	+8.3%
CL	Sell	COLGATE PALMOLIVE CO	$5,985,000	+3.0%	100,922	-0.5%	4.42%	+0.4%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$5,970,000	-3.8%	32,238	-0.7%	4.40%	-6.2%
CNI	Sell	CANADIAN NATL RAILWAY CO	$5,853,000	+4.0%	57,740	-0.2%	4.32%	+1.3%
TCP	Sell	TC PIPELINES LP	$5,677,000	+0.1%	116,569	-0.7%	4.19%	-2.4%
AZZ	Buy	AZZ INC	$5,382,000	+10.2%	128,576	+1.5%	3.97%	+7.4%
STON	Buy	STONEMOR PARTNERS LP	$5,228,000	-5.5%	221,046	+0.6%	3.86%	-7.9%
PCL	Sell	PLUM CREEK TIMBER CO INC	$4,258,000	+0.1%	90,914	-0.2%	3.14%	-2.4%
COF	Sell	CAPITAL ONE FINL CORP	$3,671,000	+8.3%	53,400	-1.0%	2.71%	+5.5%
PSMT	Sell	PRICESMART INC	$3,443,000	+7.9%	36,152	-0.7%	2.54%	+5.1%
XOM	Sell	EXXON MOBIL CORP	$3,322,000	-16.1%	38,608	-11.9%	2.45%	-18.2%
LINEQ	Buy	LINN ENERGY LLCunit ltd liab	$3,316,000	-19.6%	127,913	+2.9%	2.45%	-21.7%
HOG	Sell	HARLEY DAVIDSON INC	$2,424,000	+16.7%	37,741	-0.4%	1.79%	+13.7%
JKHY	Sell	HENRY JACK & ASSOC INC	$1,978,000	+8.0%	38,298	-1.5%	1.46%	+5.2%
EVEPQ	Sell	EV ENERGY PARTNERS L P	$1,292,000	-13.4%	34,834	-12.8%	0.95%	-15.6%
MTB	Sell	M&T BK CORP	$815,000	-0.2%	7,280	-0.5%	0.60%	-2.8%
PG	Sell	PROCTER & GAMBLE CO	$599,000	-4.0%	7,929	-2.1%	0.44%	-6.4%
SLB	Buy	SCHLUMBERGER LTD	$527,000	+29.8%	5,960	+5.3%	0.39%	+26.7%
DD	Sell	DU PONT E I DE NEMOURS & CO	$404,000	+8.3%	6,900	-2.8%	0.30%	+5.7%
GE	Sell	GENERAL ELECTRIC CO	$402,000	+2.6%	16,837	-0.5%	0.30%	0.0%
COSWF	Sell	CANADIAN OIL SANDS LTD (NEW) SHS	$367,000	-2.7%	18,879	-7.7%	0.27%	-4.9%
UPS	Sell	UNITED PARCEL SSERVICE INCcl b	$320,000	+4.2%	3,500	-1.3%	0.24%	+1.7%
APD	New	AIR PRODS & CHEMS INC	$224,000	–	2,104	–	0.16%	–
	New	ABBVIE INC	$216,000	–	4,825	–	0.16%	–
SAN	Buy	BANCO SANTANDER SAadr	$202,000	+31.2%	24,710	+3.6%	0.15%	+27.4%
BAC	Exit	BANK OF AMERICA CORPORATION	$0	–	-10,006	–	-0.10%	–
ABT	Exit	ABBOTT LABS	$0	–	-5,875	–	-0.16%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,430	–	-0.18%	–

Q2 2013

			Value		Shares		↓ Weighting
CPRT	New	COPART INC	$7,676,000	–	249,208	–	5.81%	–
JNJ	New	JOHNSON & JOHNSON	$7,418,000	–	86,392	–	5.62%	–
MCD	New	MCDONALDS CORP	$7,210,000	–	72,823	–	5.46%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELclb	$7,148,000	–	63,867	–	5.41%	–
KO	New	COCA COLA INC	$6,682,000	–	166,600	–	5.06%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$6,205,000	–	32,467	–	4.70%	–
ARCC	New	ARES CAPITAL CORP	$6,145,000	–	357,286	–	4.65%	–
MIDD	New	MIDDLEBY CORP	$6,027,000	–	35,435	–	4.56%	–
CL	New	COLGATE PALMOLIVE CO	$5,809,000	–	101,398	–	4.40%	–
TCP	New	TC PIPELINES LP	$5,670,000	–	117,435	–	4.29%	–
CNI	New	CANADIAN NATL RAILWAY CO	$5,629,000	–	57,874	–	4.26%	–
STON	New	STONEMOR PARTNERS LP	$5,530,000	–	219,809	–	4.19%	–
DAR	New	DARLING INTL	$5,431,000	–	291,075	–	4.11%	–
GD	New	GENL DYNAMICS CORP	$5,394,000	–	68,864	–	4.08%	–
CMI	New	CUMMINS INC	$5,280,000	–	48,678	–	4.00%	–
AZZ	New	AZZ INC	$4,885,000	–	126,681	–	3.70%	–
PCL	New	PLUM CREEK TIMBER CO INC	$4,252,000	–	91,102	–	3.22%	–
LINEQ	New	LINN ENERGY LLCunit ltd liab	$4,124,000	–	124,292	–	3.12%	–
XOM	New	EXXON MOBIL CORP	$3,958,000	–	43,808	–	3.00%	–
COF	New	CAPITAL ONE FINL CORP	$3,389,000	–	53,952	–	2.57%	–
PSMT	New	PRICESMART INC	$3,191,000	–	36,416	–	2.42%	–
HOG	New	HARLEY DAVIDSON INC	$2,078,000	–	37,904	–	1.57%	–
JKHY	New	HENRY JACK & ASSOC INC	$1,832,000	–	38,870	–	1.39%	–
INGR	New	INGREDION INC	$1,581,000	–	24,090	–	1.20%	–
EVEPQ	New	EV ENERGY PARTNERS L P	$1,492,000	–	39,925	–	1.13%	–
UNP	New	UNION PACIFIC	$1,003,000	–	6,500	–	0.76%	–
MTB	New	M&T BK CORP	$817,000	–	7,314	–	0.62%	–
PG	New	PROCTER & GAMBLE CO	$624,000	–	8,103	–	0.47%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcla	$506,000	–	3	–	0.38%	–
SLB	New	SCHLUMBERGER LTD	$406,000	–	5,660	–	0.31%	–
GE	New	GENERAL ELECTRIC CO	$392,000	–	16,916	–	0.30%	–
UTX	New	UNITED TECHNOLOGIES CORP	$387,000	–	4,168	–	0.29%	–
COSWF	New	CANADIAN OIL SANDS LTD (NEW) SHS	$377,000	–	20,452	–	0.28%	–
CVS	New	CVS CAREMARK CORP	$375,000	–	6,550	–	0.28%	–
DD	New	DU PONT E I DE NEMOURS & CO	$373,000	–	7,100	–	0.28%	–
L109PS	New	ACCESS MIDSTREAM PARTNRS LPunit	$353,000	–	7,400	–	0.27%	–
AAPL	New	APPLE INC	$345,000	–	871	–	0.26%	–
MMM	New	3M CO	$324,000	–	2,966	–	0.24%	–
MSFT	New	MICROSOFT CORP	$321,000	–	9,296	–	0.24%	–
UPS	New	UNITED PARCEL SSERVICE INCcl b	$307,000	–	3,545	–	0.23%	–
JPM	New	JPMORGAN CHASE & CO	$234,000	–	4,430	–	0.18%	–
CAT	New	CATERPILLAR INC DEL	$223,000	–	2,700	–	0.17%	–
ABT	New	ABBOTT LABS	$205,000	–	5,875	–	0.16%	–
UFPI	New	UNIVERSAL FST PRODS INC	$200,000	–	5,000	–	0.15%	–
SAN	New	BANCO SANTANDER SAadr	$154,000	–	23,860	–	0.12%	–
BAC	New	BANK OF AMERICA CORPORATION	$129,000	–	10,006	–	0.10%	–
	New	TITAN MED INC	$5,000	–	10,000	–	0.00%	–

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