GUARDIAN INVESTMENT MANAGEMENT Activity Q4 2006-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$20,218,614	-11.8%	118,092	-0.0%	18.37%	-5.8%
MSFT	Sell	MICROSOFT CORP	$4,830,975	-12.3%	15,300	-5.5%	4.39%	-6.4%
AMGN	Buy	AMGEN INC	$4,334,427	+22.3%	16,127	+1.0%	3.94%	+30.6%
JNJ	Sell	JOHNSON & JOHNSON	$3,925,835	-6.9%	25,206	-1.1%	3.57%	-0.6%
INTC	Buy	INTEL CORP	$3,781,062	+6.6%	106,359	+0.2%	3.44%	+13.8%
ABBV	Buy	ABBVIE INC	$3,401,698	+10.8%	22,821	+0.1%	3.09%	+18.3%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$2,517,256	+3.1%	7,186	+0.3%	2.29%	+10.1%
BAC	Buy	BANK AMERICA CORP	$2,381,485	-3.5%	86,979	+1.2%	2.16%	+3.1%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$2,081,779	-9.2%	35,868	+0.6%	1.89%	-3.1%
PFE	Sell	PFIZER INC	$1,970,464	-11.8%	59,405	-2.5%	1.79%	-5.8%
MRK	Sell	MERCK & CO INC	$1,853,100	-12.7%	18,000	-2.2%	1.68%	-6.8%
PEP	Buy	PEPSICO INC	$1,772,342	-8.3%	10,460	+0.3%	1.61%	-2.0%
CSCO	Buy	CISCO SYS INC	$1,569,792	+20.4%	29,200	+15.9%	1.43%	+28.7%
	Sell	GENERAL ELECTRIC CO	$1,320,188	-3.0%	11,942	-3.6%	1.20%	+3.6%
ABT	Sell	ABBOTT LABS	$1,254,207	-11.5%	12,950	-0.4%	1.14%	-5.5%
MMM	Sell	3M CO	$1,182,420	-29.4%	12,630	-24.5%	1.08%	-24.6%
T	Buy	AT&T INC	$918,668	-5.1%	61,163	+0.8%	0.84%	+1.5%
QS	Sell	QUANTUMSCAPE CORP	$858,344	-39.4%	6,510	-44.7%	0.78%	-35.3%
V	Sell	VISA INC	$800,948	-24.1%	24,713	-12.9%	0.73%	-18.8%
C	Sell	CITIGROUP INC	$738,489	-13.0%	17,995	-2.4%	0.67%	-7.1%
TGT	Buy	TARGET CORP	$685,534	-14.8%	6,200	+1.6%	0.62%	-9.1%
DE	Buy	DEERE & CO	$615,129	-5.1%	1,630	+1.9%	0.56%	+1.3%
GT	Sell	GOODYEAR TIRE & RUBR CO	$425,106	-15.3%	34,200	-6.8%	0.39%	-9.6%
	Buy	WARNER BROS DISCOVERY INC	$414,266	-11.5%	38,146	+2.2%	0.38%	-5.5%
RTX	Sell	RTX CORPORATION	$324,585	-53.1%	4,510	-49.7%	0.30%	-49.9%
DIS	Buy	DISNEY WALT CO	$316,005	-8.1%	3,900	+1.3%	0.29%	-1.7%
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-4,692	–	-0.70%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-5,005	–	-0.76%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$22,916,097	–	118,142	–	19.50%	–
MSFT	New	MICROSOFT CORP	$5,511,639	–	16,185	–	4.69%	–
NVDA	New	NVIDIA CORPORATION	$4,734,017	–	11,191	–	4.03%	–
JNJ	New	JOHNSON & JOHNSON	$4,218,277	–	25,485	–	3.59%	–
INTC	New	INTEL CORP	$3,548,285	–	106,109	–	3.02%	–
AMGN	New	AMGEN INC	$3,544,438	–	15,964	–	3.02%	–
CVX	New	CHEVRON CORP NEW	$3,455,721	–	21,962	–	2.94%	–
WMT	New	WALMART INC	$3,350,292	–	21,315	–	2.85%	–
JPM	New	JPMORGAN CHASE & CO	$3,267,746	–	22,468	–	2.78%	–
ABBV	New	ABBVIE INC	$3,071,035	–	22,794	–	2.61%	–
COST	New	COSTCO WHSL CORP NEW	$2,918,020	–	5,420	–	2.48%	–
BIIB	New	BIOGEN INC	$2,867,015	–	10,065	–	2.44%	–
PG	New	PROCTER AND GAMBLE CO	$2,782,153	–	18,335	–	2.37%	–
CMCSA	New	COMCAST CORP NEWcl a	$2,705,404	–	65,112	–	2.30%	–
ITW	New	ILLINOIS TOOL WKS INC	$2,660,701	–	10,636	–	2.26%	–
BAC	New	BANK AMERICA CORP	$2,466,738	–	85,979	–	2.10%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,442,583	–	7,163	–	2.08%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$2,293,759	–	35,668	–	1.95%	–
PFE	New	PFIZER INC	$2,233,995	–	60,905	–	1.90%	–
MRK	New	MERCK & CO INC	$2,123,176	–	18,400	–	1.81%	–
PEP	New	PEPSICO INC	$1,931,845	–	10,430	–	1.64%	–
BA	New	BOEING CO	$1,832,235	–	8,677	–	1.56%	–
MMM	New	3M CO	$1,674,505	–	16,730	–	1.42%	–
XOM	New	EXXON MOBIL CORP	$1,597,275	–	14,893	–	1.36%	–
CSX	New	CSX CORP	$1,573,715	–	46,150	–	1.34%	–
TXN	New	TEXAS INSTRS INC	$1,476,164	–	8,200	–	1.26%	–
CAT	New	CATERPILLAR INC	$1,473,101	–	5,987	–	1.25%	–
QS	New	QUANTUMSCAPE CORP	$1,417,137	–	11,770	–	1.21%	–
ABT	New	ABBOTT LABS	$1,417,260	–	13,000	–	1.21%	–
	New	GENERAL ELECTRIC CO	$1,361,261	–	12,392	–	1.16%	–
CSCO	New	CISCO SYS INC	$1,303,848	–	25,200	–	1.11%	–
V	New	VISA INC	$1,054,820	–	28,363	–	0.90%	–
SO	New	SOUTHERN CO	$1,047,428	–	14,910	–	0.89%	–
EL	New	LAUDER ESTEE COS INCcl a	$972,081	–	4,950	–	0.83%	–
T	New	AT&T INC	$967,575	–	60,663	–	0.82%	–
AMZN	New	AMAZON COM INC	$938,592	–	7,200	–	0.80%	–
MDLZ	New	MONDELEZ INTL INCcl a	$915,397	–	12,550	–	0.78%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$897,146	–	5,005	–	0.76%	–
C	New	CITIGROUP INC	$848,517	–	18,430	–	0.72%	–
AXP	New	AMERICAN EXPRESS CO	$817,346	–	4,692	–	0.70%	–
TGT	New	TARGET CORP	$804,590	–	6,100	–	0.68%	–
HD	New	HOME DEPOT INC	$765,267	–	2,465	–	0.65%	–
KKR	New	KKR & CO INC	$756,000	–	13,500	–	0.64%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$747,286	–	3,400	–	0.64%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$692,339	–	8,960	–	0.59%	–
DE	New	DEERE & CO	$648,304	–	1,600	–	0.55%	–
EMR	New	EMERSON ELEC CO	$601,093	–	6,650	–	0.51%	–
DUK	New	DUKE ENERGY CORP NEW	$599,428	–	5,699	–	0.51%	–
GILD	New	GILEAD SCIENCES INC	$581,879	–	7,550	–	0.50%	–
NSC	New	NORFOLK SOUTHN CORP	$504,501	–	2,225	–	0.43%	–
GT	New	GOODYEAR TIRE & RUBR CO	$502,056	–	36,700	–	0.43%	–
QCOM	New	QUALCOMM INC	$480,922	–	4,040	–	0.41%	–
	New	WARNER BROS DISCOVERY INC	$468,005	–	37,321	–	0.40%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$411,466	–	3,075	–	0.35%	–
DIS	New	DISNEY WALT CO	$343,728	–	3,850	–	0.29%	–

Q4 2022

			Value		Shares		↓ Weighting
MP	Exit	MP MATERIALS CORP	$0	–	-10,000	–	-0.28%	–
TRN	Exit	TRINITY INDS INC	$0	–	-13,500	–	-0.29%	–
HTBK	Exit	HERITAGE COMM CORP	$0	–	-29,465	–	-0.34%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-34,300	–	-0.35%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-9,750	–	-0.38%	–
	Exit	WARNER BROS DISCOVERY INC	$0	–	-33,973	–	-0.40%	–
DIS	Exit	DISNEY WALT CO	$0	–	-4,600	–	-0.44%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-6,917	–	-0.51%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-5,699	–	-0.54%	–
TGT	Exit	TARGET CORP	$0	–	-3,665	–	-0.55%	–
DE	Exit	DEERE & CO	$0	–	-1,700	–	-0.58%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,040	–	-0.58%	–
KKR	Exit	KKR & CO INC	$0	–	-13,750	–	-0.60%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-4,975	–	-0.60%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,280	–	-0.64%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-10,600	–	-0.66%	–
C	Exit	CITIGROUP INC	$0	–	-16,330	–	-0.69%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-12,550	–	-0.70%	–
	Exit	GENERAL ELECTRIC CO	$0	–	-1,717	–	-0.74%	–
NSC	Exit	NORFOLK SOUTHN CORP	$0	–	-3,950	–	-0.84%	–
SO	Exit	SOUTHERN CO	$0	–	-14,910	–	-1.03%	–
CSCO	Exit	CISCO SYS INC	$0	–	-25,500	–	-1.03%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-5,000	–	-1.09%	–
BA	Exit	BOEING CO	$0	–	-8,927	–	-1.10%	–
CAT	Exit	CATERPILLAR INC	$0	–	-6,687	–	-1.11%	–
QS	Exit	QUANTUMSCAPE CORP	$0	–	-11,645	–	-1.13%	–
CSX	Exit	CSX CORP	$0	–	-46,750	–	-1.26%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-8,200	–	-1.29%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,416	–	-1.32%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-11,316	–	-1.39%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-17,574	–	-1.56%	–
MRK	Exit	MERCK & CO INC	$0	–	-18,700	–	-1.63%	–
T	Exit	AT&T INC	$0	–	-116,563	–	-1.81%	–
PEP	Exit	PEPSICO INC	$0	–	-11,380	–	-1.88%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-7,236	–	-1.96%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-70,612	–	-2.10%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-12,086	–	-2.21%	–
V	Exit	VISA INC	$0	–	-62,578	–	-2.41%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-22,759	–	-2.41%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-19,262	–	-2.46%	–
MMM	Exit	3M CO	$0	–	-22,296	–	-2.50%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-5,420	–	-2.59%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-88,879	–	-2.72%	–
BIIB	Exit	BIOGEN INC	$0	–	-10,165	–	-2.75%	–
PFE	Exit	PFIZER INC	$0	–	-63,030	–	-2.80%	–
INTC	Exit	INTEL CORP	$0	–	-107,729	–	-2.81%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-39,750	–	-2.86%	–
WMT	Exit	WALMART INC	$0	–	-24,165	–	-3.18%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-22,184	–	-3.23%	–
ABBV	Exit	ABBVIE INC	$0	–	-23,817	–	-3.24%	–
AMGN	Exit	AMGEN INC	$0	–	-16,038	–	-3.66%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-15,840	–	-3.74%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-26,960	–	-4.46%	–
AAPL	Exit	APPLE INC	$0	–	-118,533	–	-16.60%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$16,381,000	+0.0%	118,533	-1.1%	16.60%	+16.5%
JNJ	Sell	JOHNSON & JOHNSON	$4,404,000	-9.0%	26,960	-1.1%	4.46%	+6.0%
AMGN	Buy	AMGEN INC	$3,614,000	-6.8%	16,038	+0.6%	3.66%	+8.6%
ABBV	Sell	ABBVIE INC	$3,196,000	-22.7%	23,817	-11.8%	3.24%	-10.0%
CVX	Buy	CHEVRON CORP NEW	$3,187,000	+13.0%	22,184	+13.9%	3.23%	+31.6%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$2,825,000	-9.9%	39,750	-2.5%	2.86%	+4.9%
INTC	Sell	INTEL CORP	$2,776,000	-34.9%	107,729	-5.5%	2.81%	-24.2%
PFE	Sell	PFIZER INC	$2,758,000	-30.2%	63,030	-15.3%	2.80%	-18.7%
BAC	Buy	BK OF AMERICA CORP	$2,684,000	+4.8%	88,879	+8.0%	2.72%	+22.0%
COST	Sell	COSTCO WHSL CORP NEW	$2,559,000	+554.5%	5,420	-63.9%	2.59%	+662.6%
MMM	Buy	3M CO	$2,463,000	-3.3%	22,296	+13.2%	2.50%	+12.6%
PG	Sell	PROCTER AND GAMBLE CO	$2,431,000	-13.1%	19,262	-1.0%	2.46%	+1.2%
JPM	Buy	JPMORGAN CHASE & CO	$2,378,000	+12.6%	22,759	+21.3%	2.41%	+31.1%
V	Buy	VISA INC	$2,376,000	-16.2%	62,578	+12.0%	2.41%	-2.4%
ITW	Buy	ILLINOIS TOOL WKS INC	$2,183,000	+12.1%	12,086	+13.1%	2.21%	+30.6%
CMCSA	Sell	COMCAST CORP NEWcl a	$2,071,000	-26.8%	70,612	-2.1%	2.10%	-14.7%
PEP	Sell	PEPSICO INC	$1,857,000	-14.5%	11,380	-12.7%	1.88%	-0.4%
T	Buy	AT&T INC	$1,788,000	-11.9%	116,563	+20.4%	1.81%	+2.6%
MRK	Buy	MERCK & CO INC	$1,610,000	-4.5%	18,700	+1.1%	1.63%	+11.2%
ABT	Sell	ABBOTT LABS	$1,298,000	-11.0%	13,416	-0.1%	1.32%	+3.6%
TXN	Sell	TEXAS INSTRS INC	$1,269,000	-17.3%	8,200	-18.0%	1.29%	-3.7%
CSX	Buy	CSX CORP	$1,245,000	-5.9%	46,750	+2.7%	1.26%	+9.6%
QS	Sell	QUANTUMSCAPE CORP	$1,116,000	+287.5%	11,645	-65.2%	1.13%	+350.6%
BA	Buy	BOEING CO	$1,080,000	-58.4%	8,927	+64.7%	1.10%	-51.5%
EL	New	LAUDER ESTEE COS INCcl a	$1,079,000	–	5,000	–	1.09%	–
NSC	Sell	NORFOLK SOUTHN CORP	$828,000	-63.5%	3,950	-60.5%	0.84%	-57.5%
	Sell	GENERAL ELECTRIC CO	$725,000	-6.0%	1,717	-85.8%	0.74%	+9.5%
MDLZ	Sell	MONDELEZ INTL INCcl a	$688,000	-13.4%	12,550	-2.0%	0.70%	+0.9%
C	Buy	CITIGROUP INC	$680,000	-2.6%	16,330	+7.6%	0.69%	+13.5%
GILD	Sell	GILEAD SCIENCES INC	$653,000	-3.0%	10,600	-10.9%	0.66%	+13.0%
HD	New	HOME DEPOT INC	$629,000	–	2,280	–	0.64%	–
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$591,000	-58.1%	4,975	-50.2%	0.60%	-51.2%
QCOM	New	QUALCOMM INC	$569,000	–	5,040	–	0.58%	–
DE	Sell	DEERE & CO	$567,000	-81.1%	1,700	-83.0%	0.58%	-77.9%
TGT	New	TARGET CORP	$543,000	–	3,665	–	0.55%	–
DUK	Sell	DUKE ENERGY CORP NEW	$530,000	-66.7%	5,699	-61.6%	0.54%	-61.2%
EMR	Sell	EMERSON ELEC CO	$506,000	-36.4%	6,917	-30.8%	0.51%	-25.9%
DIS	Sell	DISNEY WALT CO	$434,000	-54.0%	4,600	-54.0%	0.44%	-46.4%
	Buy	WARNER BROS DISCOVERY INC	$390,000	+18.5%	33,973	+38.4%	0.40%	+38.1%
BK	Sell	BANK NEW YORK MELLON CORP	$375,000	-74.6%	9,750	-72.4%	0.38%	-70.4%
GT	Buy	GOODYEAR TIRE & RUBR CO	$346,000	+6.8%	34,300	+13.2%	0.35%	+24.5%
GOLD	Exit	BARRICK GOLD CORP	$0	–	-11,500	–	-0.18%	–
	Exit	MANDIANT INC	$0	–	-24,200	–	-0.42%	–
DOW	Exit	DOW INC	$0	–	-10,000	–	-0.45%	–
VIAC	Exit	PARAMOUNT GLOBAL	$0	–	-31,178	–	-0.67%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-14,914	–	-0.92%	–
GSK	Exit	GSK PLCsponsored adr	$0	–	-26,600	–	-1.01%	–
PJT	Exit	PJT PARTNERS INC	$0	–	-27,374	–	-1.67%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$16,378,000	–	119,793	–	14.25%	–
JNJ	New	JOHNSON & JOHNSON	$4,838,000	–	27,260	–	4.21%	–
INTC	New	INTEL CORP	$4,266,000	–	114,035	–	3.71%	–
ABBV	New	ABBVIE INC	$4,137,000	–	27,017	–	3.60%	–
MSFT	New	MICROSOFT CORP	$4,068,000	–	15,840	–	3.54%	–
PFE	New	PFIZER INC	$3,950,000	–	74,430	–	3.44%	–
AMGN	New	AMGEN INC	$3,877,000	–	15,938	–	3.37%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$3,137,000	–	40,750	–	2.73%	–
DE	New	DEERE & CO	$2,994,000	–	10,000	–	2.60%	–
WMT	New	WALMART INC	$2,937,000	–	24,165	–	2.56%	–
V	New	VISA INC	$2,836,000	–	55,888	–	2.47%	–
CMCSA	New	COMCAST CORP NEWcl a	$2,829,000	–	72,112	–	2.46%	–
CVX	New	CHEVRON CORP NEW	$2,820,000	–	19,484	–	2.45%	–
PG	New	PROCTER AND GAMBLE CO	$2,798,000	–	19,462	–	2.44%	–
BA	New	BOEING CO	$2,597,000	–	5,420	–	2.26%	–
BAC	New	BK OF AMERICA CORP	$2,561,000	–	82,279	–	2.23%	–
MMM	New	3M CO	$2,548,000	–	19,696	–	2.22%	–
NSC	New	NORFOLK SOUTHN CORP	$2,270,000	–	10,000	–	1.98%	–
PEP	New	PEPSICO INC	$2,171,000	–	13,030	–	1.89%	–
JPM	New	JPMORGAN CHASE & CO	$2,112,000	–	18,759	–	1.84%	–
BIIB	New	BIOGEN INC	$2,073,000	–	10,165	–	1.80%	–
T	New	AT&T INC	$2,029,000	–	96,813	–	1.77%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$1,975,000	–	7,236	–	1.72%	–
ITW	New	ILLINOIS TOOL WKS INC	$1,947,000	–	10,686	–	1.69%	–
PJT	New	PJT PARTNERS INC	$1,923,000	–	27,374	–	1.67%	–
NVDA	New	NVIDIA CORPORATION	$1,715,000	–	11,316	–	1.49%	–
MRK	New	MERCK & CO INC	$1,686,000	–	18,500	–	1.47%	–
DUK	New	DUKE ENERGY CORP NEW	$1,591,000	–	14,849	–	1.38%	–
TXN	New	TEXAS INSTRS INC	$1,535,000	–	10,000	–	1.34%	–
XOM	New	EXXON MOBIL CORP	$1,505,000	–	17,574	–	1.31%	–
BK	New	BANK NEW YORK MELLON CORP	$1,474,000	–	35,350	–	1.28%	–
ABT	New	ABBOTT LABS	$1,458,000	–	13,426	–	1.27%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,411,000	–	10,000	–	1.23%	–
CSX	New	CSX CORP	$1,323,000	–	45,500	–	1.15%	–
CAT	New	CATERPILLAR INC	$1,196,000	–	6,687	–	1.04%	–
GSK	New	GSK PLCsponsored adr	$1,157,000	–	26,600	–	1.01%	–
CSCO	New	CISCO SYS INC	$1,087,000	–	25,500	–	0.95%	–
SO	New	SOUTHERN CO	$1,063,000	–	14,910	–	0.92%	–
PYPL	New	PAYPAL HLDGS INC	$1,058,000	–	14,914	–	0.92%	–
DIS	New	DISNEY WALT CO	$944,000	–	10,000	–	0.82%	–
EMR	New	EMERSON ELEC CO	$795,000	–	10,000	–	0.69%	–
MDLZ	New	MONDELEZ INTL INCcl a	$794,000	–	12,800	–	0.69%	–
	New	GENERAL ELECTRIC CO	$771,000	–	12,104	–	0.67%	–
VIAC	New	PARAMOUNT GLOBAL	$769,000	–	31,178	–	0.67%	–
C	New	CITIGROUP INC	$698,000	–	15,180	–	0.61%	–
GILD	New	GILEAD SCIENCES INC	$673,000	–	11,900	–	0.59%	–
KKR	New	KKR & CO INC	$636,000	–	13,750	–	0.55%	–
DOW	New	DOW INC	$516,000	–	10,000	–	0.45%	–
	New	MANDIANT INC	$484,000	–	24,200	–	0.42%	–
COST	New	COSTCO WHSL CORP NEW	$391,000	–	15,000	–	0.34%	–
	New	WARNER BROS DISCOVERY INC	$329,000	–	24,539	–	0.29%	–
MP	New	MP MATERIALS CORP	$328,000	–	10,000	–	0.28%	–
TRN	New	TRINITY INDS INC	$327,000	–	13,500	–	0.28%	–
GT	New	GOODYEAR TIRE & RUBR CO	$324,000	–	30,300	–	0.28%	–
HTBK	New	HERITAGE COMM CORP	$314,000	–	29,465	–	0.27%	–
QS	New	QUANTUMSCAPE CORP	$288,000	–	33,500	–	0.25%	–
GOLD	New	BARRICK GOLD CORP	$203,000	–	11,500	–	0.18%	–

Q4 2021

			Value		Shares		↓ Weighting
HTBK	Exit	HERITAGE COMM CORP	$0	–	-29,465	–	-0.26%	–
TRN	Exit	TRINITY INDS INC	$0	–	-14,000	–	-0.28%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-20,000	–	-0.28%	–
FEYE	Exit	FIREEYE INC	$0	–	-29,500	–	-0.39%	–
DOW	Exit	DOW INC	$0	–	-11,161	–	-0.40%	–
QS	Exit	QUANTUMSCAPE CORP	$0	–	-23,150	–	-0.42%	–
DISCA	Exit	DISCOVERY INC	$0	–	-25,200	–	-0.47%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-15,275	–	-0.54%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-12,800	–	-0.55%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-19,303	–	-0.56%	–
C	Exit	CITIGROUP INC	$0	–	-11,480	–	-0.59%	–
KKR	Exit	KKR & CO INC	$0	–	-13,750	–	-0.62%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-12,200	–	-0.63%	–
MP	Exit	MP MATERIALS CORP	$0	–	-26,750	–	-0.64%	–
SO	Exit	SOUTHERN CO	$0	–	-14,910	–	-0.68%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-11,000	–	-0.70%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-11,500	–	-0.72%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-26,100	–	-0.74%	–
CSX	Exit	CSX CORP	$0	–	-41,400	–	-0.91%	–
	Exit	GENERAL ELECTRIC CO	$0	–	-12,958	–	-0.98%	–
MRK	Exit	MERCK & CO INC	$0	–	-18,700	–	-1.04%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-10,373	–	-1.06%	–
CSCO	Exit	CISCO SYS INC	$0	–	-26,600	–	-1.07%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-15,149	–	-1.09%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,417	–	-1.17%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-17,117	–	-1.26%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-10,000	–	-1.42%	–
PEP	Exit	PEPSICO INC	$0	–	-13,039	–	-1.45%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-34,174	–	-1.48%	–
WMT	Exit	WALMART INC	$0	–	-14,715	–	-1.51%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-40,950	–	-1.57%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-10,686	–	-1.63%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-10,806	–	-1.65%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-22,784	–	-1.71%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-41,450	–	-1.81%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-16,659	–	-2.01%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-19,762	–	-2.04%	–
ABBV	Exit	ABBVIE INC	$0	–	-26,417	–	-2.10%	–
BA	Exit	BOEING CO	$0	–	-12,968	–	-2.10%	–
BIIB	Exit	BIOGEN INC	$0	–	-10,165	–	-2.12%	–
T	Exit	AT&T INC	$0	–	-112,573	–	-2.24%	–
MMM	Exit	3M CO	$0	–	-17,381	–	-2.25%	–
AMGN	Exit	AMGEN INC	$0	–	-14,548	–	-2.28%	–
PFE	Exit	PFIZER INC	$0	–	-76,030	–	-2.41%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-12,101	–	-2.50%	–
V	Exit	VISA INC	$0	–	-68,896	–	-2.75%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-90,379	–	-2.83%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-14,914	–	-2.86%	–
DE	Exit	DEERE & CO	$0	–	-11,900	–	-2.93%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-27,260	–	-3.25%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-17,390	–	-3.62%	–
INTC	Exit	INTEL CORP	$0	–	-103,706	–	-4.08%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-101,112	–	-4.17%	–
BX	Exit	BLACKSTONE INC	$0	–	-83,000	–	-7.13%	–
AAPL	Exit	APPLE INC	$0	–	-115,431	–	-12.06%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$16,333,000	-9.2%	115,431	+765.2%	12.06%	-2.0%
BX	New	BLACKSTONE INC	$9,655,000	–	83,000	–	7.13%	–
CMCSA	Sell	COMCAST CORP NEWcl a	$5,655,000	-11.4%	101,112	-9.7%	4.17%	-4.4%
INTC	Sell	INTEL CORP	$5,525,000	-17.3%	103,706	-12.9%	4.08%	-10.8%
MSFT	Sell	MICROSOFT CORP	$4,902,000	-25.0%	17,390	-27.9%	3.62%	-19.0%
JNJ	Sell	JOHNSON & JOHNSON	$4,402,000	-12.3%	27,260	-10.3%	3.25%	-5.4%
BAC	Buy	BK OF AMERICA CORP	$3,836,000	-36.9%	90,379	+524.2%	2.83%	-31.9%
V	Sell	VISA INC	$3,721,000	-13.2%	68,896	-10.0%	2.75%	-6.4%
PFE	Sell	PFIZER INC	$3,270,000	+2.3%	76,030	-6.9%	2.41%	+10.3%
AMGN	Sell	AMGEN INC	$3,093,000	-25.6%	14,548	-14.7%	2.28%	-19.7%
T	Sell	AT&T INC	$3,040,000	-25.0%	112,573	-20.1%	2.24%	-19.0%
BIIB	Sell	BIOGEN INC	$2,876,000	-22.1%	10,165	-4.7%	2.12%	-15.9%
ABBV	Sell	ABBVIE INC	$2,849,000	-13.7%	26,417	-9.9%	2.10%	-6.9%
PG	Sell	PROCTER AND GAMBLE CO	$2,762,000	-10.9%	19,762	-14.0%	2.04%	-3.8%
JPM	Buy	JPMORGAN CHASE & CO	$2,726,000	+5.7%	16,659	+0.5%	2.01%	+14.1%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$2,452,000	-30.0%	41,450	-21.0%	1.81%	-24.5%
CVX	Buy	CHEVRON CORP NEW	$2,311,000	-2.8%	22,784	+0.4%	1.71%	+4.9%
NVDA	New	NVIDIA CORPORATION	$2,240,000	–	10,806	–	1.65%	–
ITW	Sell	ILLINOIS TOOL WKS INC	$2,208,000	-32.7%	10,686	-27.2%	1.63%	-27.4%
BK	Buy	BANK NEW YORK MELLON CORP	$2,122,000	+100.8%	40,950	+98.4%	1.57%	+116.6%
WMT	Sell	WALMART INC	$2,050,000	-7.9%	14,715	-6.7%	1.51%	-0.6%
XOM	Sell	EXXON MOBIL CORP	$2,010,000	-35.2%	34,174	-30.6%	1.48%	-30.1%
PEP	Sell	PEPSICO INC	$1,959,000	-24.6%	13,039	-25.6%	1.45%	-18.6%
TXN	New	TEXAS INSTRS INC	$1,921,000	–	10,000	–	1.42%	–
DUK	Sell	DUKE ENERGY CORP NEW	$1,478,000	-3.2%	15,149	-2.1%	1.09%	+4.4%
CSCO	Sell	CISCO SYS INC	$1,447,000	+2.7%	26,600	-0.7%	1.07%	+10.8%
MRK	Sell	MERCK & CO INC	$1,404,000	-24.4%	18,700	-21.8%	1.04%	-18.5%
	New	GENERAL ELECTRIC CO	$1,335,000	–	12,958	–	0.98%	–
CSX	Sell	CSX CORP	$1,231,000	-15.1%	41,400	-8.5%	0.91%	-8.4%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$997,000	-38.3%	26,100	-35.7%	0.74%	-33.4%
RTX	New	RAYTHEON TECHNOLOGIES CORP	$945,000	–	11,000	–	0.70%	–
MP	New	MP MATERIALS CORP	$862,000	–	26,750	–	0.64%	–
GILD	Sell	GILEAD SCIENCES INC	$852,000	-2.6%	12,200	-3.9%	0.63%	+5.0%
C	Sell	CITIGROUP INC	$805,000	-42.5%	11,480	-42.0%	0.59%	-37.9%
VIAC	Sell	VIACOMCBS INCcl b	$762,000	-54.5%	19,303	-47.9%	0.56%	-50.9%
MDLZ	Sell	MONDELEZ INTL INCcl a	$744,000	-42.0%	12,800	-37.7%	0.55%	-37.5%
QS	New	QUANTUMSCAPE CORP	$568,000	–	23,150	–	0.42%	–
DOW	Sell	DOW INC	$542,000	-55.5%	11,161	-42.0%	0.40%	-52.0%
FEYE	Buy	FIREEYE INC	$525,000	-7.2%	29,500	+5.4%	0.39%	0.0%
GT	Sell	GOODYEAR TIRE & RUBR CO	$380,000	-61.3%	20,000	-65.1%	0.28%	-58.3%
SLB	Exit	SCHLUMBERGER LTD	$0	–	-11,950	–	-0.26%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-12,715	–	-0.27%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-11,100	–	-0.31%	–
GLW	Exit	CORNING INC	$0	–	-14,500	–	-0.41%	–
WBT	Exit	WELBILT INC	$0	–	-30,350	–	-0.48%	–
TXT	Exit	TEXTRON INC	$0	–	-13,900	–	-0.65%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-11,500	–	-0.82%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-169,820	–	-1.56%	–

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$17,988,000	–	13,341	–	12.30%	–
INTC	New	INTEL CORP	$6,681,000	–	119,009	–	4.57%	–
MSFT	New	MICROSOFT CORP	$6,532,000	–	24,115	–	4.47%	–
CMCSA	New	COMCAST CORP NEWcl a	$6,384,000	–	111,972	–	4.37%	–
BAC	New	BK OF AMERICA CORP	$6,080,000	–	14,479	–	4.16%	–
JNJ	New	JOHNSON & JOHNSON	$5,021,000	–	30,384	–	3.44%	–
PYPL	New	PAYPAL HLDGS INC	$4,347,000	–	14,914	–	2.97%	–
V	New	VISA INC	$4,289,000	–	76,546	–	2.93%	–
DE	New	DEERE & CO	$4,197,000	–	11,900	–	2.87%	–
AMGN	New	AMGEN INC	$4,155,000	–	17,047	–	2.84%	–
T	New	AT&T INC	$4,053,000	–	140,836	–	2.77%	–
BIIB	New	BIOGEN INC	$3,692,000	–	10,665	–	2.52%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$3,504,000	–	52,446	–	2.40%	–
MMM	New	3M CO	$3,452,000	–	17,381	–	2.36%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$3,383,000	–	12,101	–	2.31%	–
ABBV	New	ABBVIE INC	$3,302,000	–	29,317	–	2.26%	–
ITW	New	ILLINOIS TOOL WKS INC	$3,283,000	–	14,686	–	2.25%	–
PFE	New	PFIZER INC	$3,198,000	–	81,665	–	2.19%	–
BA	New	BOEING CO	$3,106,000	–	12,968	–	2.12%	–
XOM	New	EXXON MOBIL CORP	$3,104,000	–	49,213	–	2.12%	–
PG	New	PROCTER AND GAMBLE CO	$3,099,000	–	22,974	–	2.12%	–
PEP	New	PEPSICO INC	$2,597,000	–	17,530	–	1.78%	–
JPM	New	JPMORGAN CHASE & CO	$2,579,000	–	16,584	–	1.76%	–
CVX	New	CHEVRON CORP NEW	$2,377,000	–	22,700	–	1.63%	–
GE	New	GENERAL ELECTRIC CO	$2,286,000	–	169,820	–	1.56%	–
WMT	New	WALMART INC	$2,225,000	–	15,779	–	1.52%	–
MRK	New	MERCK & CO INC	$1,858,000	–	23,900	–	1.27%	–
EMR	New	EMERSON ELEC CO	$1,705,000	–	17,117	–	1.17%	–
VIAC	New	VIACOMCBS INCcl b	$1,673,000	–	37,021	–	1.14%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,616,000	–	40,600	–	1.10%	–
ABT	New	ABBOTT LABS	$1,555,000	–	13,417	–	1.06%	–
DUK	New	DUKE ENERGY CORP NEW	$1,527,000	–	15,475	–	1.04%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,520,000	–	10,373	–	1.04%	–
CSX	New	CSX CORP	$1,450,000	–	45,230	–	0.99%	–
CSCO	New	CISCO SYS INC	$1,409,000	–	26,800	–	0.96%	–
C	New	CITIGROUP INC	$1,399,000	–	19,780	–	0.96%	–
MDLZ	New	MONDELEZ INTL INCcl a	$1,283,000	–	20,550	–	0.88%	–
DOW	New	DOW INC	$1,218,000	–	19,248	–	0.83%	–
PM	New	PHILIP MORRIS INTL INC	$1,199,000	–	11,500	–	0.82%	–
BK	New	BANK NEW YORK MELLON CORP	$1,057,000	–	20,636	–	0.72%	–
GT	New	GOODYEAR TIRE & RUBR CO	$982,000	–	57,279	–	0.67%	–
MU	New	MICRON TECHNOLOGY INC	$977,000	–	11,500	–	0.67%	–
TXT	New	TEXTRON INC	$955,000	–	13,900	–	0.65%	–
SO	New	SOUTHERN CO	$903,000	–	14,910	–	0.62%	–
GILD	New	GILEAD SCIENCES INC	$875,000	–	12,700	–	0.60%	–
KKR	New	KKR & CO INC	$815,000	–	13,750	–	0.56%	–
DISCA	New	DISCOVERY INC	$774,000	–	25,200	–	0.53%	–
MO	New	ALTRIA GROUP INC	$728,000	–	15,275	–	0.50%	–
WBT	New	WELBILT INC	$702,000	–	30,350	–	0.48%	–
GLW	New	CORNING INC	$593,000	–	14,500	–	0.41%	–
FEYE	New	FIREEYE INC	$566,000	–	28,000	–	0.39%	–
KHC	New	KRAFT HEINZ CO	$452,000	–	11,100	–	0.31%	–
OXY	New	OCCIDENTAL PETE CORP	$397,000	–	12,715	–	0.27%	–
SLB	New	SCHLUMBERGER LTD	$382,000	–	11,950	–	0.26%	–
TRN	New	TRINITY INDS INC	$378,000	–	14,000	–	0.26%	–
HTBK	New	HERITAGE COMM CORP	$328,000	–	29,465	–	0.22%	–

Q4 2020

			Value		Shares		↓ Weighting
TRN	Exit	TRINITY INDS INC	$0	–	-14,000	–	-0.24%	–
CTVA	Exit	CORTEVA INC	$0	–	-10,021	–	-0.25%	–
HTBK	Exit	HERITAGE COMM CORP	$0	–	-44,465	–	-0.26%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-17,207	–	-0.28%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-13,650	–	-0.36%	–
DISCA	Exit	DISCOVERY INC	$0	–	-20,000	–	-0.38%	–
GLW	Exit	CORNING INC	$0	–	-14,500	–	-0.41%	–
KKR	Exit	KKR & CO INC	$0	–	-13,750	–	-0.41%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-15,236	–	-0.46%	–
TXT	Exit	TEXTRON INC	$0	–	-15,100	–	-0.47%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-15,450	–	-0.52%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-79,979	–	-0.53%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-11,693	–	-0.57%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-14,200	–	-0.58%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-26,689	–	-0.66%	–
SO	Exit	SOUTHERN CO	$0	–	-13,910	–	-0.66%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-11,500	–	-0.75%	–
C	Exit	CITIGROUP INC	$0	–	-21,690	–	-0.82%	–
CSCO	Exit	CISCO SYS INC	$0	–	-26,900	–	-0.92%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-17,117	–	-0.98%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-187,270	–	-1.02%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-21,050	–	-1.05%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-10,194	–	-1.08%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-84,449	–	-1.15%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-37,550	–	-1.23%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-10,000	–	-1.30%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,817	–	-1.31%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-10,558	–	-1.31%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-20,258	–	-1.56%	–
WMT	Exit	WALMART INC	$0	–	-12,829	–	-1.56%	–
CSX	Exit	CSX CORP	$0	–	-23,230	–	-1.57%	–
MRK	Exit	MERCK & CO. INC	$0	–	-22,000	–	-1.59%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-25,680	–	-1.61%	–
PEP	Exit	PEPSICO INC	$0	–	-14,380	–	-1.74%	–
BA	Exit	BOEING CO	$0	–	-12,618	–	-1.82%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-21,934	–	-1.84%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-61,511	–	-1.84%	–
ABBV	Exit	ABBVIE INC	$0	–	-29,517	–	-2.25%	–
DE	Exit	DEERE & CO	$0	–	-11,900	–	-2.30%	–
PFE	Exit	PFIZER INC	$0	–	-73,611	–	-2.36%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-45,521	–	-2.39%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-14,486	–	-2.44%	–
MMM	Exit	3M CO	$0	–	-18,147	–	-2.53%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-14,914	–	-2.56%	–
BIIB	Exit	BIOGEN INC	$0	–	-10,465	–	-2.59%	–
V	Exit	VISA INC	$0	–	-50,738	–	-2.63%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-24,165	–	-2.93%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-167,219	–	-3.51%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-29,334	–	-3.81%	–
AMGN	Exit	AMGEN INC	$0	–	-17,298	–	-3.83%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-24,265	–	-4.45%	–
T	Exit	AT&T INC	$0	–	-188,571	–	-4.69%	–
INTC	Exit	INTEL CORP	$0	–	-110,209	–	-4.98%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-132,472	–	-5.34%	–
AAPL	Exit	APPLE INC	$0	–	-92,311	–	-9.32%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$10,690,000	-11.7%	92,311	+178.1%	9.32%	-15.1%
INTC	Sell	INTEL CORP	$5,706,000	-14.7%	110,209	-1.4%	4.98%	-17.9%
T	Sell	AT&T INC	$5,376,000	-6.8%	188,571	-1.2%	4.69%	-10.3%
MSFT	Sell	MICROSOFT CORP	$5,103,000	-2.7%	24,265	-5.8%	4.45%	-6.4%
AMGN	Sell	AMGEN INC	$4,396,000	+6.2%	17,298	-1.3%	3.83%	+2.2%
JNJ	Buy	JOHNSON & JOHNSON	$4,367,000	+156.7%	29,334	+33.3%	3.81%	+146.9%
BAC	Sell	BK OF AMERICA CORP	$4,028,000	-1.1%	167,219	-2.5%	3.51%	-4.8%
PG	Sell	PROCTER AND GAMBLE CO	$3,358,000	+11.6%	24,165	-4.0%	2.93%	+7.4%
V	Sell	VISA INC	$3,018,000	+3.9%	50,738	-3.7%	2.63%	-0.0%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$2,744,000	-0.7%	45,521	-3.2%	2.39%	-4.5%
PFE	Buy	PFIZER INC	$2,701,000	+13.0%	73,611	+0.7%	2.36%	+8.7%
DE	Buy	DEERE & CO	$2,637,000	+41.0%	11,900	+934.8%	2.30%	+35.6%
XOM	Buy	EXXON MOBIL CORP	$2,111,000	+0.2%	61,511	+30.5%	1.84%	-3.7%
BA	Buy	BOEING CO	$2,085,000	-6.1%	12,618	+4.1%	1.82%	-9.7%
PEP	Sell	PEPSICO INC	$1,993,000	+4.6%	14,380	-0.2%	1.74%	+0.6%
CVX	Sell	CHEVRON CORP NEW	$1,848,000	-22.7%	25,680	-4.1%	1.61%	-25.6%
MRK	Buy	MERCK & CO. INC	$1,824,000	+466.5%	22,000	+83.3%	1.59%	+444.5%
CSX	Sell	CSX CORP	$1,805,000	+2.6%	23,230	-7.9%	1.57%	-1.3%
DUK	Sell	DUKE ENERGY CORP NEW	$1,795,000	+9.3%	20,258	-1.5%	1.56%	+5.2%
CAT	Sell	CATERPILLAR INC DEL	$1,492,000	+17.3%	10,000	-0.6%	1.30%	+12.8%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$1,320,000	+34.3%	84,449	-0.6%	1.15%	+29.2%
MDLZ	Sell	MONDELEZ INTL INCcl a	$1,209,000	+6.1%	21,050	-5.6%	1.05%	+2.0%
GE	Buy	GENERAL ELECTRIC CO	$1,166,000	+0.5%	187,270	+10.2%	1.02%	-3.2%
EMR	Sell	EMERSON ELEC CO	$1,122,000	-0.2%	17,117	-5.5%	0.98%	-4.0%
C	Buy	CITIGROUP INC	$935,000	-10.5%	21,690	+6.1%	0.82%	-13.9%
SO	Sell	SOUTHERN CO	$754,000	+2.7%	13,910	-1.8%	0.66%	-1.2%
VIAC	New	VIACOMCBS INCcl b	$752,000	–	26,689	–	0.66%	–
MU	Sell	MICRON TECHNOLOGY INC	$666,000	-24.8%	14,200	-17.4%	0.58%	-27.6%
DD	New	DUPONT DE NEMOURS INC	$649,000	–	11,693	–	0.57%	–
GT	Buy	GOODYEAR TIRE & RUBR CO	$613,000	-11.5%	79,979	+3.2%	0.53%	-15.0%
MO	Sell	ALTRIA GROUP INC	$596,000	-21.9%	15,450	-20.6%	0.52%	-24.9%
TXT	Sell	TEXTRON INC	$544,000	-8.7%	15,100	-16.6%	0.47%	-12.2%
KKR	Sell	KKR & CO INC	$472,000	+7.3%	13,750	-3.5%	0.41%	+3.3%
KHC	Sell	KRAFT HEINZ CO	$409,000	-7.3%	13,650	-1.4%	0.36%	-10.8%
CTVA	Sell	CORTEVA INC	$289,000	-10.5%	10,021	-17.1%	0.25%	-14.0%
SLB	Exit	SCHLUMBERGER LTD	$0	–	-15,250	–	-0.26%	–
DIS	Exit	DISNEY WALT CO	$0	–	-11,362	–	-1.15%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$12,107,000	–	33,190	–	10.97%	–
INTC	New	INTEL CORP	$6,687,000	–	111,759	–	6.06%	–
T	New	AT&T INC	$5,768,000	–	190,817	–	5.23%	–
MSFT	New	MICROSOFT CORP	$5,243,000	–	25,765	–	4.75%	–
CMCSA	New	COMCAST CORP NEWcl a	$5,164,000	–	132,472	–	4.68%	–
AMGN	New	AMGEN INC	$4,138,000	–	17,531	–	3.75%	–
BAC	New	BK OF AMERICA CORP	$4,071,000	–	171,446	–	3.69%	–
PG	New	PROCTER AND GAMBLE CO	$3,009,000	–	25,173	–	2.73%	–
V	New	VISA INC	$2,904,000	–	52,669	–	2.63%	–
ABBV	New	ABBVIE INC	$2,898,000	–	29,517	–	2.63%	–
MMM	New	3M CO	$2,831,000	–	18,147	–	2.57%	–
BIIB	New	BIOGEN INC	$2,800,000	–	10,465	–	2.54%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$2,764,000	–	47,021	–	2.50%	–
PYPL	New	PAYPAL HLDGS INC	$2,599,000	–	14,914	–	2.36%	–
ITW	New	ILLINOIS TOOL WKS INC	$2,532,000	–	14,486	–	2.30%	–
PFE	New	PFIZER INC	$2,391,000	–	73,111	–	2.17%	–
CVX	New	CHEVRON CORP NEW	$2,390,000	–	26,790	–	2.17%	–
BA	New	BOEING CO	$2,221,000	–	12,118	–	2.01%	–
XOM	New	EXXON MOBIL CORP	$2,107,000	–	47,136	–	1.91%	–
JPM	New	JPMORGAN CHASE & CO	$2,063,000	–	21,934	–	1.87%	–
PEP	New	PEPSICO INC	$1,906,000	–	14,413	–	1.73%	–
DE	New	DEERE & CO	$1,870,000	–	1,150	–	1.70%	–
CSX	New	CSX CORP	$1,759,000	–	25,230	–	1.59%	–
JNJ	New	JOHNSON & JOHNSON	$1,701,000	–	22,000	–	1.54%	–
DUK	New	DUKE ENERGY CORP NEW	$1,642,000	–	20,558	–	1.49%	–
WMT	New	WALMART INC	$1,537,000	–	12,829	–	1.39%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,532,000	–	37,550	–	1.39%	–
TXN	New	TEXAS INSTRS INC	$1,341,000	–	10,558	–	1.22%	–
CAT	New	CATERPILLAR INC DEL	$1,272,000	–	10,057	–	1.15%	–
DIS	New	DISNEY WALT CO	$1,267,000	–	11,362	–	1.15%	–
ABT	New	ABBOTT LABS	$1,263,000	–	13,817	–	1.14%	–
CSCO	New	CISCO SYS INC	$1,255,000	–	26,900	–	1.14%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,231,000	–	10,194	–	1.12%	–
GE	New	GENERAL ELECTRIC CO	$1,160,000	–	169,870	–	1.05%	–
MDLZ	New	MONDELEZ INTL INCcl a	$1,140,000	–	22,300	–	1.03%	–
EMR	New	EMERSON ELEC CO	$1,124,000	–	18,117	–	1.02%	–
C	New	CITIGROUP INC	$1,045,000	–	20,450	–	0.95%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$983,000	–	84,999	–	0.89%	–
MU	New	MICRON TECHNOLOGY INC	$886,000	–	17,200	–	0.80%	–
PM	New	PHILIP MORRIS INTL INC	$806,000	–	11,500	–	0.73%	–
MO	New	ALTRIA GROUP INC	$763,000	–	19,450	–	0.69%	–
SO	New	SOUTHERN CO	$734,000	–	14,160	–	0.66%	–
GT	New	GOODYEAR TIRE & RUBR CO	$693,000	–	77,479	–	0.63%	–
TXT	New	TEXTRON INC	$596,000	–	18,100	–	0.54%	–
BK	New	BANK NEW YORK MELLON CORP	$589,000	–	15,236	–	0.53%	–
KHC	New	KRAFT HEINZ CO	$441,000	–	13,850	–	0.40%	–
KKR	New	KKR & CO INC	$440,000	–	14,250	–	0.40%	–
DISCA	New	DISCOVERY INC	$422,000	–	20,000	–	0.38%	–
GLW	New	CORNING INC	$376,000	–	14,500	–	0.34%	–
HTBK	New	HERITAGE COMMERCE CORP	$333,000	–	44,465	–	0.30%	–
CTVA	New	CORTEVA INC	$323,000	–	12,091	–	0.29%	–
MRK	New	MERCK & CO. INC	$322,000	–	12,000	–	0.29%	–
OXY	New	OCCIDENTAL PETE CORP	$315,000	–	17,207	–	0.28%	–
TRN	New	TRINITY INDS INC	$298,000	–	14,000	–	0.27%	–
SLB	New	SCHLUMBERGER LTD	$283,000	–	15,250	–	0.26%	–

Q4 2019

			Value		Shares		↓ Weighting
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-13,900	–	-0.23%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-11,604	–	-0.27%	–
TRN	Exit	TRINITY INDS INC	$0	–	-18,800	–	-0.35%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-16,433	–	-0.40%	–
GLW	Exit	CORNING INC	$0	–	-19,500	–	-0.49%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-39,979	–	-0.52%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-11,772	–	-0.60%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-20,200	–	-0.61%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-16,117	–	-0.64%	–
CTVA	Exit	CORTEVA INC	$0	–	-26,066	–	-0.65%	–
GIS	Exit	GENERAL MLS INC	$0	–	-14,400	–	-0.70%	–
QCOM	Exit	QUALCOMM INC	$0	–	-10,590	–	-0.72%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-21,900	–	-0.75%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-88,999	–	-0.76%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-31,050	–	-0.85%	–
FLR	Exit	FLUOR CORP NEW	$0	–	-62,000	–	-1.05%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-22,800	–	-1.12%	–
ABT	Exit	ABBOTT LABS	$0	–	-15,591	–	-1.16%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-10,483	–	-1.18%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-26,351	–	-1.18%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-10,790	–	-1.24%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-32,700	–	-1.24%	–
CSCO	Exit	CISCO SYS INC	$0	–	-28,950	–	-1.27%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-163,520	–	-1.30%	–
WMT	Exit	WALMART INC	$0	–	-12,679	–	-1.34%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-33,286	–	-1.34%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-14,914	–	-1.37%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-23,984	–	-1.42%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-11,469	–	-1.48%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-17,582	–	-1.50%	–
CSX	Exit	CSX CORP	$0	–	-25,230	–	-1.55%	–
C	Exit	CITIGROUP INC	$0	–	-25,950	–	-1.59%	–
DE	Exit	DEERE & CO	$0	–	-11,900	–	-1.78%	–
PFE	Exit	PFIZER INC	$0	–	-59,611	–	-1.90%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-14,618	–	-2.03%	–
MMM	Exit	3M CO	$0	–	-14,477	–	-2.05%	–
BIIB	Exit	BIOGEN INC	$0	–	-10,065	–	-2.08%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-46,264	–	-2.08%	–
ABBV	Exit	ABBVIE INC	$0	–	-31,016	–	-2.09%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-20,334	–	-2.13%	–
V	Exit	VISA INC	$0	–	-43,279	–	-2.32%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-23,498	–	-2.60%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-47,088	–	-2.95%	–
AMGN	Exit	AMGEN INC	$0	–	-18,123	–	-3.11%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-26,985	–	-3.33%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-31,918	–	-3.36%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-29,543	–	-3.40%	–
BA	Exit	BOEING CO	$0	–	-11,105	–	-3.75%	–
BAC	Exit	BANK AMER CORP	$0	–	-193,236	–	-5.01%	–
INTC	Exit	INTEL CORP	$0	–	-117,479	–	-5.38%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-134,472	–	-5.38%	–
T	Exit	AT&T INC	$0	–	-167,659	–	-5.64%	–
AAPL	Exit	APPLE INC	$0	–	-34,040	–	-6.77%	–

Q3 2019

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$7,624,000	+16.2%	34,040	+2.6%	6.77%	+18.6%
T	Buy	AT&T INC	$6,344,000	+14.3%	167,659	+1.2%	5.64%	+16.7%
CMCSA	Buy	COMCAST CORP NEWcl a	$6,061,000	+7.8%	134,472	+1.1%	5.38%	+10.1%
INTC	Buy	INTEL CORP	$6,053,000	+8.7%	117,479	+1.0%	5.38%	+11.0%
BAC	Buy	BANK AMER CORP	$5,636,000	+2.3%	193,236	+1.7%	5.01%	+4.4%
BA	Buy	BOEING CO	$4,225,000	+4.6%	11,105	+0.0%	3.75%	+6.8%
JNJ	Sell	JOHNSON & JOHNSON	$3,822,000	-7.7%	29,543	-0.7%	3.40%	-5.8%
CVX	Sell	CHEVRON CORP NEW	$3,785,000	-5.0%	31,918	-0.3%	3.36%	-3.0%
AMGN	Buy	AMGEN INC	$3,506,000	+5.0%	18,123	+0.1%	3.11%	+7.2%
XOM	Buy	EXXON MOBIL CORP	$3,324,000	-5.8%	47,088	+2.3%	2.95%	-3.7%
PG	Sell	PROCTER & GAMBLE CO	$2,922,000	+12.9%	23,498	-0.4%	2.60%	+15.4%
V	Buy	VISA INC	$2,612,000	+8.2%	43,279	+2.4%	2.32%	+10.5%
JPM	Sell	JPMORGAN CHASE & CO	$2,393,000	-6.3%	20,334	-10.9%	2.13%	-4.3%
ABBV	Sell	ABBVIE INC	$2,348,000	+3.8%	31,016	-0.3%	2.09%	+5.9%
BMY	Buy	BRISTOL MYERS SQUIBB CO	$2,346,000	+21.0%	46,264	+8.2%	2.08%	+23.5%
BIIB	Sell	BIOGEN INC	$2,343,000	-9.5%	10,065	-9.0%	2.08%	-7.6%
ITW	Buy	ILLINOIS TOOL WKS INC	$2,287,000	+9.4%	14,618	+5.4%	2.03%	+11.7%
PFE	Buy	PFIZER INC	$2,141,000	-16.7%	59,611	+0.4%	1.90%	-14.9%
C	Sell	CITIGROUP INC	$1,795,000	-12.9%	25,950	-11.9%	1.59%	-11.1%
CSX	Buy	CSX CORP	$1,747,000	-11.5%	25,230	+4.1%	1.55%	-9.6%
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,668,000	–	11,469	–	1.48%	–
EMR	Sell	EMERSON ELEC CO	$1,603,000	-1.5%	23,984	-1.6%	1.42%	+0.6%
GE	Sell	GENERAL ELECTRIC CO	$1,462,000	-16.6%	163,520	-2.1%	1.30%	-14.9%
CSCO	Sell	CISCO SYS INC	$1,427,000	-17.6%	28,950	-8.5%	1.27%	-15.9%
TXN	Buy	TEXAS INSTRS INC	$1,394,000	+12.7%	10,790	+0.1%	1.24%	+15.1%
CAT	Sell	CATERPILLAR INC DEL	$1,324,000	-8.1%	10,483	-0.9%	1.18%	-6.2%
MDLZ	Sell	MONDELEZ INTL INCcl a	$1,261,000	-1.7%	22,800	-4.2%	1.12%	+0.4%
FLR	Buy	FLUOR CORP NEW	$1,185,000	+80.4%	62,000	+217.9%	1.05%	+84.1%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$852,000	-17.0%	88,999	+0.6%	0.76%	-15.2%
QCOM	Sell	QUALCOMM INC	$808,000	-16.3%	10,590	-16.5%	0.72%	-14.4%
GIS	Buy	GENERAL MLS INC	$793,000	+21.8%	14,400	+16.1%	0.70%	+24.4%
CTVA	Sell	CORTEVA INC	$729,000	-39.3%	26,066	-35.8%	0.65%	-38.0%
OXY	Buy	OCCIDENTAL PETE CORP	$716,000	-11.1%	16,117	+0.6%	0.64%	-9.1%
SLB	Buy	SCHLUMBERGER LTD	$690,000	+2.4%	20,200	+19.2%	0.61%	+4.6%
GT	New	GOODYEAR TIRE & RUBR CO	$582,000	–	39,979	–	0.52%	–
GLW	New	CORNING INC	$556,000	–	19,500	–	0.49%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$263,000	–	13,900	–	0.23%	–
DISH	Exit	DISH NETWORK CORPcl a	$0	–	-16,000	–	-0.54%	–
L100PS	Exit	ARCONIC INC	$0	–	-30,520	–	-0.68%	–
AMAT	Exit	APPLIED MATLS INC	$0	–	-20,900	–	-0.82%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-32,100	–	-0.83%	–
MRK	Exit	MERCK & CO INC	$0	–	-11,850	–	-0.86%	–
TXT	Exit	TEXTRON INC	$0	–	-21,550	–	-0.99%	–
PEP	Exit	PEPSICO INC	$0	–	-14,473	–	-1.65%	–

Q2 2019

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$6,563,000	–	33,163	–	5.71%	–
CMCSA	New	COMCAST CORP NEWcl a	$5,622,000	–	132,972	–	4.89%	–
INTC	New	INTEL CORP	$5,566,000	–	116,279	–	4.84%	–
T	New	AT&T INC	$5,552,000	–	165,677	–	4.83%	–
BAC	New	BANK AMER CORP	$5,510,000	–	190,000	–	4.79%	–
JNJ	New	JOHNSON & JOHNSON	$4,142,000	–	29,743	–	3.60%	–
BA	New	BOEING CO	$4,041,000	–	11,101	–	3.52%	–
CVX	New	CHEVRON CORP NEW	$3,983,000	–	32,011	–	3.46%	–
MSFT	New	MICROSOFT CORP	$3,615,000	–	26,985	–	3.14%	–
XOM	New	EXXON MOBIL CORP	$3,527,000	–	46,030	–	3.07%	–
AMGN	New	AMGEN INC	$3,338,000	–	18,113	–	2.90%	–
BIIB	New	BIOGEN INC	$2,588,000	–	11,065	–	2.25%	–
PG	New	PROCTER AND GAMBLE CO	$2,587,000	–	23,592	–	2.25%	–
PFE	New	PFIZER INC	$2,571,000	–	59,355	–	2.24%	–
JPM	New	JPMORGAN CHASE & CO	$2,553,000	–	22,834	–	2.22%	–
MMM	New	3M CO	$2,509,000	–	14,477	–	2.18%	–
V	New	VISA INC	$2,414,000	–	42,262	–	2.10%	–
ABBV	New	ABBVIE INC	$2,263,000	–	31,116	–	1.97%	–
ITW	New	ILLINOIS TOOL WKS INC	$2,091,000	–	13,868	–	1.82%	–
C	New	CITIGROUP INC	$2,062,000	–	29,450	–	1.79%	–
CSX	New	CSX CORP	$1,974,000	–	24,230	–	1.72%	–
DE	New	DEERE & CO	$1,972,000	–	11,900	–	1.72%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,939,000	–	42,754	–	1.69%	–
PEP	New	PEPSICO INC	$1,898,000	–	14,473	–	1.65%	–
GE	New	GENERAL ELECTRIC CO	$1,754,000	–	167,020	–	1.53%	–
CSCO	New	CISCO SYS INC	$1,732,000	–	31,650	–	1.51%	–
PYPL	New	PAYPAL HLDGS INC	$1,707,000	–	14,914	–	1.48%	–
EMR	New	EMERSON ELEC CO	$1,627,000	–	24,384	–	1.42%	–
DUK	New	DUKE ENERGY CORP NEW	$1,551,000	–	17,582	–	1.35%	–
BK	New	BANK NEW YORK MELLON CORP	$1,470,000	–	33,286	–	1.28%	–
CAT	New	CATERPILLAR INC DEL	$1,441,000	–	10,574	–	1.25%	–
WMT	New	WALMART INC	$1,401,000	–	12,679	–	1.22%	–
ABT	New	ABBOTT LABS	$1,311,000	–	15,591	–	1.14%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,309,000	–	32,700	–	1.14%	–
MDLZ	New	MONDELEZ INTL INCcl a	$1,283,000	–	23,800	–	1.12%	–
WFC	New	WELLS FARGO CO NEW	$1,247,000	–	26,351	–	1.08%	–
TXN	New	TEXAS INSTRS INC	$1,237,000	–	10,782	–	1.08%	–
CTVA	New	CORTEVA INC	$1,201,000	–	40,627	–	1.04%	–
TXT	New	TEXTRON INC	$1,143,000	–	21,550	–	0.99%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$1,027,000	–	88,499	–	0.89%	–
MRK	New	MERCK & CO INC	$993,000	–	11,850	–	0.86%	–
QCOM	New	QUALCOMM INC	$965,000	–	12,690	–	0.84%	–
VIAB	New	VIACOM INC NEWcl b	$959,000	–	32,100	–	0.83%	–
AMAT	New	APPLIED MATLS INC	$939,000	–	20,900	–	0.82%	–
MU	New	MICRON TECHNOLOGY INC	$845,000	–	21,900	–	0.74%	–
CAG	New	CONAGRA BRANDS INC	$823,000	–	31,050	–	0.72%	–
OXY	New	OCCIDENTAL PETE CORP	$805,000	–	16,015	–	0.70%	–
L100PS	New	ARCONIC INC	$788,000	–	30,520	–	0.68%	–
COP	New	CONOCOPHILLIPS	$718,000	–	11,772	–	0.62%	–
SLB	New	SCHLUMBERGER LTD	$674,000	–	16,950	–	0.59%	–
FLR	New	FLUOR CORP NEW	$657,000	–	19,500	–	0.57%	–
GIS	New	GENERAL MLS INC	$651,000	–	12,400	–	0.57%	–
DISH	New	DISH NETWORK CORPcl a	$615,000	–	16,000	–	0.54%	–
KHC	New	KRAFT HEINZ CO	$510,000	–	16,433	–	0.44%	–
TRN	New	TRINITY INDS INC	$390,000	–	18,800	–	0.34%	–
WY	New	WEYERHAEUSER CO	$305,000	–	11,604	–	0.26%	–

Q4 2018

			Value		Shares		↓ Weighting
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-34,615	–	-0.42%	–
GIS	Exit	GENERAL MLS INC	$0	–	-12,500	–	-0.47%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-16,704	–	-0.47%	–
L100PS	Exit	ARCONIC INC	$0	–	-33,687	–	-0.65%	–
TRN	Exit	TRINITY INDS INC	$0	–	-21,550	–	-0.69%	–
QCOM	Exit	QUALCOMM INC	$0	–	-11,790	–	-0.75%	–
MRK	Exit	MERCK & CO INC	$0	–	-12,250	–	-0.76%	–
LSXMA	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-20,120	–	-0.77%	–
AMAT	Exit	APPLIED MATLS INC	$0	–	-23,100	–	-0.78%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-13,258	–	-0.90%	–
TGT	Exit	TARGET CORP	$0	–	-12,100	–	-0.94%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-7,542	–	-0.95%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-32,650	–	-0.98%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-20,348	–	-0.99%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-13,665	–	-0.99%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-10,753	–	-1.02%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-26,850	–	-1.02%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-25,950	–	-1.03%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-20,625	–	-1.10%	–
FLR	Exit	FLUOR CORP NEW	$0	–	-22,600	–	-1.16%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-17,784	–	-1.20%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-26,351	–	-1.22%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-140,925	–	-1.24%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-6,352	–	-1.31%	–
TXT	Exit	TEXTRON INC	$0	–	-21,650	–	-1.36%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-19,498	–	-1.37%	–
ABT	Exit	ABBOTT LABS	$0	–	-21,591	–	-1.39%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-40,300	–	-1.42%	–
PEP	Exit	PEPSICO INC	$0	–	-14,840	–	-1.46%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-11,148	–	-1.50%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-33,586	–	-1.51%	–
CSCO	Exit	CISCO SYS INC	$0	–	-35,350	–	-1.51%	–
CSX	Exit	CSX CORP	$0	–	-24,230	–	-1.58%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-13,868	–	-1.72%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-27,021	–	-1.98%	–
V	Exit	VISA INC	$0	–	-42,164	–	-2.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-22,434	–	-2.23%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-44,404	–	-2.43%	–
ABBV	Exit	ABBVIE INC	$0	–	-30,116	–	-2.51%	–
PFE	Exit	PFIZER INC	$0	–	-65,097	–	-2.52%	–
MMM	Exit	3M CO	$0	–	-14,578	–	-2.70%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-88,152	–	-2.75%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-29,530	–	-2.97%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-45,166	–	-3.38%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-32,156	–	-3.46%	–
BIIB	Exit	BIOGEN INC	$0	–	-11,165	–	-3.47%	–
BA	Exit	BOEING CO	$0	–	-10,745	–	-3.52%	–
AMGN	Exit	AMGEN INC	$0	–	-19,345	–	-3.53%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-30,343	–	-3.69%	–
BAC	Exit	BANK AMER CORP	$0	–	-142,063	–	-3.70%	–
T	Exit	AT&T INC	$0	–	-165,411	–	-4.89%	–
INTC	Exit	INTEL CORP	$0	–	-118,579	–	-4.94%	–
AAPL	Exit	APPLE INC	$0	–	-33,682	–	-6.69%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$7,603,000	+22.5%	33,682	-1.0%	6.69%	+12.8%
INTC	Sell	INTEL CORP	$5,607,000	-7.5%	118,579	-2.8%	4.94%	-14.8%
T	Buy	AT&T INC	$5,554,000	+20.8%	165,411	+15.5%	4.89%	+11.2%
BAC	Buy	BANK AMER CORP	$4,205,000	+6.0%	142,063	+1.4%	3.70%	-2.4%
JNJ	Sell	JOHNSON & JOHNSON	$4,192,000	+12.7%	30,343	-1.1%	3.69%	+3.7%
AMGN	Sell	AMGEN INC	$4,010,000	+8.2%	19,345	-3.7%	3.53%	-0.4%
BA	Sell	BOEING CO	$3,996,000	+1.5%	10,745	-8.5%	3.52%	-6.6%
CVX	Sell	CHEVRON CORP NEW	$3,933,000	-6.3%	32,156	-3.2%	3.46%	-13.7%
XOM	Sell	EXXON MOBIL CORP	$3,840,000	+2.1%	45,166	-0.6%	3.38%	-6.0%
MSFT	Buy	MICROSOFT CORP	$3,377,000	+18.0%	29,530	+1.7%	2.97%	+8.6%
PFE	Buy	PFIZER INC	$2,868,000	+24.9%	65,097	+2.8%	2.52%	+14.9%
ABBV	Buy	ABBVIE INC	$2,848,000	+2.7%	30,116	+0.7%	2.51%	-5.4%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$2,756,000	+8.1%	44,404	-3.6%	2.43%	-0.4%
JPM	Buy	JPMORGAN CHASE & CO	$2,531,000	+12.5%	22,434	+2.7%	2.23%	+3.6%
V	Buy	VISA INC	$2,275,000	+12.2%	42,164	+4.6%	2.00%	+3.4%
PG	Sell	PROCTER AND GAMBLE CO	$2,248,000	+2.5%	27,021	-3.9%	1.98%	-5.6%
ITW	Buy	ILLINOIS TOOL WKS INC	$1,957,000	+33.0%	13,868	+30.6%	1.72%	+22.5%
CSCO	Sell	CISCO SYS INC	$1,719,000	+3.7%	35,350	-8.3%	1.51%	-4.5%
BK	Sell	BANK NEW YORK MELLON CORP	$1,712,000	-6.0%	33,586	-0.6%	1.51%	-13.5%
CAT	Sell	CATERPILLAR INC DEL	$1,699,000	+6.7%	11,148	-5.1%	1.50%	-1.8%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$1,618,000	-1.6%	40,300	-1.2%	1.42%	-9.4%
ABT	Sell	ABBOTT LABS	$1,583,000	+15.0%	21,591	-4.4%	1.39%	+5.9%
TXT	New	TEXTRON INC	$1,547,000	–	21,650	–	1.36%	–
COST	Sell	COSTCO WHSL CORP NEW	$1,491,000	+1.2%	6,352	-9.9%	1.31%	-6.8%
GE	Sell	GENERAL ELECTRIC CO	$1,409,000	-30.9%	140,925	-6.0%	1.24%	-36.4%
WFC	Buy	WELLS FARGO CO NEW	$1,385,000	+48.1%	26,351	+56.1%	1.22%	+36.4%
EMR	Buy	EMERSON ELEC CO	$1,362,000	+16.7%	17,784	+5.3%	1.20%	+7.5%
FLR	Buy	FLUOR CORP NEW	$1,313,000	+60.3%	22,600	+34.5%	1.16%	+47.6%
SLB	Sell	SCHLUMBERGER LTD	$1,256,000	-8.9%	20,625	-30.3%	1.10%	-16.2%
MU	Buy	MICRON TECHNOLOGY INC	$1,174,000	+4.6%	25,950	+21.3%	1.03%	-3.6%
TXN	Buy	TEXAS INSTRS INC	$1,153,000	-2.6%	10,753	+0.1%	1.02%	-10.3%
OXY	Buy	OCCIDENTAL PETE CORP DEL	$1,122,000	+10.3%	13,665	+12.3%	0.99%	+1.6%
KHC	Buy	KRAFT HEINZ CO	$1,121,000	-1.2%	20,348	+12.5%	0.99%	-9.0%
CAG	Sell	CONAGRA BRANDS INC	$1,109,000	-13.3%	32,650	-8.8%	0.98%	-20.2%
TGT	Sell	TARGET CORP	$1,067,000	+10.5%	12,100	-4.7%	0.94%	+1.7%
COP	Buy	CONOCOPHILLIPS	$1,026,000	+11.3%	13,258	+0.0%	0.90%	+2.5%
AMAT	Buy	APPLIED MATLS INC	$892,000	+8.3%	23,100	+29.4%	0.78%	-0.4%
MRK	Sell	MERCK & CO INC	$869,000	-4.2%	12,250	-18.1%	0.76%	-11.8%
QCOM	Sell	QUALCOMM INC	$849,000	+25.2%	11,790	-2.5%	0.75%	+15.3%
L100PS	Buy	ARCONIC INC	$742,000	+39.2%	33,687	+7.5%	0.65%	+28.3%
WY	Sell	WEYERHAEUSER CO	$539,000	-16.6%	16,704	-5.6%	0.47%	-23.2%
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$0	–	-18,500	–	-0.43%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$6,209,000	–	34,032	–	5.94%	–
INTC	New	INTEL CORP	$6,063,000	–	121,979	–	5.80%	–
T	New	AT&T INC	$4,598,000	–	143,209	–	4.40%	–
CVX	New	CHEVRON CORP NEW	$4,197,000	–	33,203	–	4.01%	–
BAC	New	BANK AMER CORP	$3,967,000	–	140,040	–	3.79%	–
BA	New	BOEING CO	$3,938,000	–	11,739	–	3.76%	–
XOM	New	EXXON MOBIL CORP	$3,760,000	–	45,453	–	3.59%	–
JNJ	New	JOHNSON & JOHNSON	$3,721,000	–	30,673	–	3.56%	–
AMGN	New	AMGEN INC	$3,706,000	–	20,079	–	3.54%	–
BIIB	New	BIOGEN INC	$3,240,000	–	11,165	–	3.10%	–
MMM	New	3M CO	$2,867,000	–	14,578	–	2.74%	–
MSFT	New	MICROSOFT CORP	$2,863,000	–	29,030	–	2.74%	–
ABBV	New	ABBVIE INC	$2,772,000	–	29,916	–	2.65%	–
CMCSA	New	COMCAST CORP NEWcl a	$2,686,000	–	88,152	–	2.57%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$2,549,000	–	46,078	–	2.44%	–
PFE	New	PFIZER INC	$2,297,000	–	63,332	–	2.20%	–
JPM	New	JPMORGAN CHASE & CO	$2,249,000	–	21,854	–	2.15%	–
PG	New	PROCTER AND GAMBLE CO	$2,194,000	–	28,113	–	2.10%	–
GE	New	GENERAL ELECTRIC CO	$2,039,000	–	149,975	–	1.95%	–
V	New	VISA INC	$2,027,000	–	40,298	–	1.94%	–
BK	New	BANK NEW YORK MELLON CORP	$1,822,000	–	33,786	–	1.74%	–
CSCO	New	CISCO SYS INC	$1,658,000	–	38,550	–	1.58%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,644,000	–	40,800	–	1.57%	–
PEP	New	PEPSICO INC	$1,615,000	–	14,840	–	1.54%	–
CAT	New	CATERPILLAR INC DEL	$1,593,000	–	11,742	–	1.52%	–
CSX	New	CSX CORP	$1,545,000	–	24,230	–	1.48%	–
DUK	New	DUKE ENERGY CORP NEW	$1,542,000	–	19,498	–	1.47%	–
COST	New	COSTCO WHSL CORP NEW	$1,473,000	–	7,051	–	1.41%	–
ITW	New	ILLINOIS TOOL WKS INC	$1,471,000	–	10,618	–	1.41%	–
SLB	New	SCHLUMBERGER LTD	$1,379,000	–	29,575	–	1.32%	–
ABT	New	ABBOTT LABS	$1,377,000	–	22,591	–	1.32%	–
CAG	New	CONAGRA BRANDS INC	$1,279,000	–	35,800	–	1.22%	–
TXN	New	TEXAS INSTRS INC	$1,184,000	–	10,746	–	1.13%	–
EMR	New	EMERSON ELEC CO	$1,167,000	–	16,884	–	1.12%	–
KHC	New	KRAFT HEINZ CO	$1,135,000	–	18,081	–	1.08%	–
MU	New	MICRON TECHNOLOGY INC	$1,122,000	–	21,400	–	1.07%	–
MDLZ	New	MONDELEZ INTL INCcl a	$1,100,000	–	26,850	–	1.05%	–
EL	New	LAUDER ESTEE COS INCcl a	$1,076,000	–	7,542	–	1.03%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$1,017,000	–	12,165	–	0.97%	–
TGT	New	TARGET CORP	$966,000	–	12,700	–	0.92%	–
WFC	New	WELLS FARGO CO NEW	$935,000	–	16,876	–	0.89%	–
COP	New	CONOCOPHILLIPS	$922,000	–	13,254	–	0.88%	–
LSXMA	New	LIBERTY MEDIA CORP DELAWARE	$912,000	–	20,120	–	0.87%	–
MRK	New	MERCK & CO INC	$907,000	–	14,950	–	0.87%	–
AMAT	New	APPLIED MATLS INC	$824,000	–	17,850	–	0.79%	–
FLR	New	FLUOR CORP NEW	$819,000	–	16,800	–	0.78%	–
TRN	New	TRINITY INDS INC	$738,000	–	21,550	–	0.70%	–
QCOM	New	QUALCOMM INC	$678,000	–	12,090	–	0.65%	–
WY	New	WEYERHAEUSER CO	$646,000	–	17,704	–	0.62%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$597,000	–	34,615	–	0.57%	–
GIS	New	GENERAL MLS INC	$553,000	–	12,500	–	0.53%	–
L100PS	New	ARCONIC INC	$533,000	–	31,332	–	0.51%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$449,000	–	18,500	–	0.43%	–

Q4 2017

			Value		Shares		↓ Weighting
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$0	–	-17,700	–	-0.34%	–
SNH	Exit	SENIOR HSG PPTYS TRsh ben int	$0	–	-16,240	–	-0.35%	–
STX	Exit	SEAGATE TECHNOLOGY PLC	$0	–	-10,300	–	-0.38%	–
EPD	Exit	ENTERPRISE PRODS PARTNERS L	$0	–	-13,434	–	-0.39%	–
RF	Exit	REGIONS FINL CORP NEW	$0	–	-25,700	–	-0.43%	–
KKR	Exit	KKR & CO L P DEL	$0	–	-19,749	–	-0.44%	–
KO	Exit	COCA COLA CO	$0	–	-10,580	–	-0.53%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-34,724	–	-0.54%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-19,500	–	-0.55%	–
TXT	Exit	TEXTRON INC	$0	–	-10,000	–	-0.59%	–
GIS	Exit	GENERAL MLS INC	$0	–	-10,400	–	-0.59%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-17,704	–	-0.67%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-35,210	–	-0.73%	–
POT	Exit	POTASH CORP SASK INC	$0	–	-35,100	–	-0.75%	–
TRN	Exit	TRINITY INDS INC	$0	–	-22,350	–	-0.79%	–
ABT	Exit	ABBOTT LABS	$0	–	-14,666	–	-0.86%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-19,350	–	-0.87%	–
CSX	Exit	CSX CORP	$0	–	-14,800	–	-0.89%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-21,450	–	-0.96%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-13,765	–	-0.98%	–
TGT	Exit	TARGET CORP	$0	–	-15,975	–	-1.04%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-12,546	–	-1.07%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-11,023	–	-1.09%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-20,850	–	-1.15%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-15,775	–	-1.22%	–
PEP	Exit	PEPSICO INC	$0	–	-10,340	–	-1.27%	–
CSCO	Exit	CISCO SYS INC	$0	–	-35,650	–	-1.32%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-37,300	–	-1.39%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-10,768	–	-1.48%	–
LSXMA	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-35,120	–	-1.62%	–
V	Exit	VISA INC	$0	–	-30,773	–	-1.68%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-10,618	–	-1.74%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-19,886	–	-1.84%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-32,050	–	-1.88%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-22,980	–	-1.89%	–
PFE	Exit	PFIZER INC	$0	–	-57,402	–	-2.26%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-22,551	–	-2.38%	–
BA	Exit	BOEING CO	$0	–	-9,109	–	-2.56%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-40,115	–	-2.82%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-29,227	–	-2.94%	–
ABBV	Exit	ABBVIE INC	$0	–	-31,416	–	-3.08%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-34,234	–	-3.10%	–
AMGN	Exit	AMGEN INC	$0	–	-16,236	–	-3.34%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-138,633	–	-3.70%	–
MMM	Exit	3M CO	$0	–	-16,128	–	-3.74%	–
BAC	Exit	BANK AMER CORP	$0	–	-135,572	–	-3.80%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-62,501	–	-3.81%	–
BIIB	Exit	BIOGEN INC	$0	–	-11,165	–	-3.86%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-30,359	–	-4.36%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-34,962	–	-4.54%	–
INTC	Exit	INTEL CORP	$0	–	-112,517	–	-4.73%	–
T	Exit	AT&T INC	$0	–	-122,836	–	-5.32%	–
AAPL	Exit	APPLE INC	$0	–	-31,227	–	-5.32%	–

Q3 2017

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$4,812,000	+7.0%	31,227	+2.9%	5.32%	+7.0%
T	Buy	AT&T INC	$4,811,000	+4.3%	122,836	+0.4%	5.32%	+4.3%
INTC	Sell	INTEL CORP	$4,285,000	+12.7%	112,517	-0.2%	4.73%	+12.7%
CVX	Sell	CHEVRON CORP NEW	$4,108,000	+11.4%	34,962	-1.1%	4.54%	+11.5%
BAC	Buy	BANK AMER CORP	$3,435,000	+4.5%	135,572	+0.0%	3.80%	+4.5%
GE	Buy	GENERAL ELECTRIC CO	$3,352,000	-10.4%	138,633	+0.1%	3.70%	-10.4%
AMGN	Sell	AMGEN INC	$3,027,000	+8.1%	16,236	-0.1%	3.34%	+8.1%
XOM	Buy	EXXON MOBIL CORP	$2,807,000	+2.5%	34,234	+0.9%	3.10%	+2.5%
PG	Sell	PROCTER AND GAMBLE CO	$2,659,000	+2.7%	29,227	-1.7%	2.94%	+2.7%
BMY	Buy	BRISTOL MYERS SQUIBB CO	$2,556,000	+17.2%	40,115	+2.6%	2.82%	+17.3%
BA	Sell	BOEING CO	$2,316,000	+19.4%	9,109	-7.1%	2.56%	+19.4%
JPM	Buy	JPMORGAN CHASE & CO	$2,154,000	+5.5%	22,551	+0.9%	2.38%	+5.5%
MSFT	Sell	MICROSOFT CORP	$1,712,000	-4.4%	22,980	-11.5%	1.89%	-4.4%
DUK	Sell	DUKE ENERGY CORP NEW	$1,669,000	-0.3%	19,886	-0.7%	1.84%	-0.3%
V	Sell	VISA INC	$1,523,000	+9.1%	30,773	-1.5%	1.68%	+9.1%
CAT	Sell	CATERPILLAR INC DEL	$1,343,000	+14.7%	10,768	-1.2%	1.48%	+14.7%
CSCO	Buy	CISCO SYS INC	$1,199,000	+14.2%	35,650	+6.3%	1.32%	+14.2%
SLB	Sell	SCHLUMBERGER LTD	$1,100,000	-2.1%	15,775	-7.6%	1.22%	-2.2%
COP	Buy	CONOCOPHILLIPS	$1,043,000	+17.7%	20,850	+3.4%	1.15%	+17.7%
TXN	Buy	TEXAS INSTRS INC	$988,000	+16.6%	11,023	+0.1%	1.09%	+16.7%
TGT	Buy	TARGET CORP	$943,000	+14.4%	15,975	+16.1%	1.04%	+14.5%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$871,000	-4.3%	21,450	+1.7%	0.96%	-4.3%
MDLZ	Buy	MONDELEZ INTL INCcl a	$787,000	-1.5%	19,350	+4.6%	0.87%	-1.5%
POT	Sell	POTASH CORP SASK INC	$675,000	+13.8%	35,100	-3.6%	0.75%	+13.9%
ABB	Sell	ABB LTDsponsored adr	$661,000	-1.6%	35,210	-4.1%	0.73%	-1.6%
CMCSA	Sell	COMCAST CORP NEWcl a	$498,000	-39.1%	19,500	-7.1%	0.55%	-39.2%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$488,000	+11.9%	34,724	-4.3%	0.54%	+11.8%
KKR	Buy	KKR & CO L P DEL	$401,000	+16.6%	19,749	+6.8%	0.44%	+16.6%
RF	Buy	REGIONS FINL CORP NEW	$391,000	+16.0%	25,700	+11.7%	0.43%	+16.1%
EPD	New	ENTERPRISE PRODS PARTNERS L	$350,000	–	13,434	–	0.39%	–
STX	Buy	SEAGATE TECHNOLOGY PLC	$341,000	-12.1%	10,300	+3.0%	0.38%	-12.1%
TEVA	Buy	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$311,000	-32.8%	17,700	+26.9%	0.34%	-32.8%
VXX	Exit	BARCLAYS BK PLCipath s&p500 vix	$0	–	-36,710	–	-0.74%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-18,450	–	-1.64%	–
DOW	Exit	DOW CHEM CO	$0	–	-35,900	–	-2.50%	–

Q2 2017

			Value		Shares		↓ Weighting
T	New	AT&T INC	$4,614,000	–	122,316	–	5.10%	–
AAPL	New	APPLE INC	$4,498,000	–	30,359	–	4.97%	–
JNJ	New	JOHNSON & JOHNSON	$4,016,000	–	30,359	–	4.44%	–
INTC	New	INTEL CORP	$3,803,000	–	112,717	–	4.20%	–
GE	New	GENERAL ELECTRIC CO	$3,742,000	–	138,527	–	4.13%	–
CVX	New	CHEVRON CORP NEW	$3,686,000	–	35,333	–	4.07%	–
WFC	New	WELLS FARGO CO NEW	$3,464,000	–	62,501	–	3.83%	–
MMM	New	3M CO	$3,357,000	–	16,128	–	3.71%	–
BAC	New	BANK AMER CORP	$3,288,000	–	135,568	–	3.63%	–
BIIB	New	BIOGEN INC	$3,029,000	–	11,165	–	3.35%	–
AMGN	New	AMGEN INC	$2,800,000	–	16,256	–	3.09%	–
XOM	New	EXXON MOBIL CORP	$2,739,000	–	33,934	–	3.03%	–
PG	New	PROCTER AND GAMBLE CO	$2,590,000	–	29,721	–	2.86%	–
ABBV	New	ABBVIE INC	$2,278,000	–	31,416	–	2.52%	–
DOW	New	DOW CHEM CO	$2,263,000	–	35,900	–	2.50%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$2,180,000	–	39,115	–	2.41%	–
JPM	New	JPMORGAN CHASE & CO	$2,042,000	–	22,351	–	2.26%	–
BA	New	BOEING CO	$1,940,000	–	9,809	–	2.14%	–
PFE	New	PFIZER INC	$1,928,000	–	57,402	–	2.13%	–
MSFT	New	MICROSOFT CORP	$1,791,000	–	25,980	–	1.98%	–
DUK	New	DUKE ENERGY CORP NEW	$1,674,000	–	20,031	–	1.85%	–
BK	New	BANK NEW YORK MELLON CORP	$1,635,000	–	32,050	–	1.81%	–
ITW	New	ILLINOIS TOOL WKS INC	$1,521,000	–	10,618	–	1.68%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,489,000	–	18,450	–	1.64%	–
LSXMA	New	LIBERTY MEDIA CORP DELAWARE	$1,464,000	–	35,120	–	1.62%	–
V	New	VISA INC	$1,396,000	–	31,251	–	1.54%	–
CAG	New	CONAGRA BRANDS INC	$1,333,000	–	37,300	–	1.47%	–
PEP	New	PEPSICO INC	$1,194,000	–	10,340	–	1.32%	–
CAT	New	CATERPILLAR INC DEL	$1,171,000	–	10,904	–	1.29%	–
SLB	New	SCHLUMBERGER LTD	$1,124,000	–	17,075	–	1.24%	–
CSCO	New	CISCO SYS INC	$1,050,000	–	33,550	–	1.16%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$982,000	–	12,546	–	1.08%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$910,000	–	21,100	–	1.00%	–
COP	New	CONOCOPHILLIPS	$886,000	–	20,156	–	0.98%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$856,000	–	13,765	–	0.95%	–
TXN	New	TEXAS INSTRS INC	$847,000	–	11,016	–	0.94%	–
TGT	New	TARGET CORP	$824,000	–	13,765	–	0.91%	–
CMCSA	New	COMCAST CORP NEWcl a	$818,000	–	21,000	–	0.90%	–
CSX	New	CSX CORP	$807,000	–	14,800	–	0.89%	–
MDLZ	New	MONDELEZ INTL INCcl a	$799,000	–	18,500	–	0.88%	–
ABT	New	ABBOTT LABS	$712,000	–	14,666	–	0.79%	–
ABB	New	ABB LTDsponsored adr	$672,000	–	36,710	–	0.74%	–
VXX	New	BARCLAYS BK PLCipath s&p500 vix	$672,000	–	36,710	–	0.74%	–
TRN	New	TRINITY INDS INC	$626,000	–	22,350	–	0.69%	–
POT	New	POTASH CORP SASK INC	$593,000	–	36,400	–	0.66%	–
WY	New	WEYERHAEUSER CO	$593,000	–	17,704	–	0.66%	–
GIS	New	GENERAL MLS INC	$576,000	–	10,400	–	0.64%	–
KO	New	COCA COLA CO	$475,000	–	10,580	–	0.52%	–
TXT	New	TEXTRON INC	$470,000	–	10,000	–	0.52%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$463,000	–	13,950	–	0.51%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$436,000	–	36,266	–	0.48%	–
STX	New	SEAGATE TECHNOLOGY PLC	$388,000	–	10,000	–	0.43%	–
KKR	New	KKR & CO L P DEL	$344,000	–	18,500	–	0.38%	–
RF	New	REGIONS FINL CORP NEW	$337,000	–	23,000	–	0.37%	–
SNH	New	SENIOR HSG PPTYS TRsh ben int	$332,000	–	16,240	–	0.37%	–

Q4 2016

			Value		Shares		↓ Weighting
PBCT	Exit	PEOPLES UNITED FINANCIAL INC	$0	–	-17,936	–	-0.29%	–
PHO	Exit	POWERSHARES ETF TRUSTwater resource	$0	–	-13,700	–	-0.36%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-12,750	–	-0.44%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-36,216	–	-0.45%	–
SWHC	Exit	SMITH & WESSON HLDG CORP	$0	–	-15,000	–	-0.45%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-11,250	–	-0.47%	–
CSX	Exit	CSX CORP	$0	–	-19,845	–	-0.58%	–
LSXMA	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-17,710	–	-0.62%	–
TRN	Exit	TRINITY INDS INC	$0	–	-32,700	–	-0.68%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-12,415	–	-0.69%	–
POT	Exit	POTASH CORP SASK INC	$0	–	-41,340	–	-0.75%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-22,704	–	-0.75%	–
KO	Exit	COCA COLA CO	$0	–	-14,980	–	-0.76%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-11,086	–	-0.77%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-16,486	–	-0.80%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-10,000	–	-0.84%	–
CSCO	Exit	CISCO SYS INC	$0	–	-26,500	–	-0.85%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-14,554	–	-1.01%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-17,790	–	-1.06%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-22,100	–	-1.07%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-12,375	–	-1.09%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-13,046	–	-1.21%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-26,450	–	-1.27%	–
PEP	Exit	PEPSICO INC	$0	–	-10,840	–	-1.28%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-29,550	–	-1.28%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-13,080	–	-1.29%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-22,880	–	-1.30%	–
ABT	Exit	ABBOTT LABS	$0	–	-32,066	–	-1.40%	–
CAG	Exit	CONAGRA FOODS INC	$0	–	-28,650	–	-1.52%	–
ABBV	Exit	ABBVIE INC	$0	–	-22,416	–	-1.54%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-21,700	–	-1.56%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-18,651	–	-1.57%	–
DOW	Exit	DOW CHEM CO	$0	–	-30,000	–	-1.66%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-23,104	–	-1.68%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-17,697	–	-1.69%	–
EMCI	Exit	EMC INS GROUP INC	$0	–	-57,035	–	-1.72%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-10,968	–	-1.94%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-29,764	–	-2.01%	–
V	Exit	VISA INC	$0	–	-33,528	–	-2.03%	–
BA	Exit	BOEING CO	$0	–	-14,298	–	-2.07%	–
PFE	Exit	PFIZER INC	$0	–	-58,319	–	-2.28%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-50,221	–	-2.64%	–
AMGN	Exit	AMGEN INC	$0	–	-16,477	–	-2.79%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-29,980	–	-2.82%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-35,440	–	-2.90%	–
MMM	Exit	3M CO	$0	–	-15,953	–	-3.11%	–
AAPL	Exit	APPLE INC	$0	–	-34,755	–	-3.70%	–
INTC	Exit	INTEL CORP	$0	–	-112,417	–	-4.10%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-31,909	–	-4.31%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-40,931	–	-4.77%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-46,735	–	-4.88%	–
F	Exit	FORD MTR CO DEL	$0	–	-36,475	–	-5.11%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-152,055	–	-5.33%	–
T	Exit	AT&T INC	$0	–	-134,428	–	-6.46%	–

Q3 2016

			Value		Shares		↓ Weighting
EMCI	New	EMC INS GROUP INC	$1,550,000	–	57,035	–	1.72%	–
EMC	Exit	E M C CORP MASS	$0	–	-57,035	–	-1.72%	–

Q2 2016

			Value		Shares		↓ Weighting
T	New	AT&T INC	$5,808,000	–	134,428	–	6.46%	–
GE	New	GENERAL ELECTRIC CO	$4,788,000	–	152,055	–	5.33%	–
F	New	FORD MTR CO DEL	$4,591,000	–	36,475	–	5.11%	–
XOM	New	EXXON MOBIL CORP	$4,380,000	–	46,735	–	4.88%	–
CVX	New	CHEVRON CORP NEW	$4,290,000	–	40,931	–	4.77%	–
JNJ	New	JOHNSON & JOHNSON	$3,870,000	–	31,909	–	4.31%	–
INTC	New	INTEL CORP	$3,687,000	–	112,417	–	4.10%	–
AAPL	New	APPLE INC	$3,322,000	–	34,755	–	3.70%	–
MMM	New	3M CO	$2,794,000	–	15,953	–	3.11%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$2,606,000	–	35,440	–	2.90%	–
PG	New	PROCTER & GAMBLE CO	$2,538,000	–	29,980	–	2.82%	–
AMGN	New	AMGEN INC	$2,506,000	–	16,477	–	2.79%	–
WFC	New	WELLS FARGO & CO NEW	$2,377,000	–	50,221	–	2.64%	–
PFE	New	PFIZER INC	$2,053,000	–	58,319	–	2.28%	–
BA	New	BOEING CO	$1,856,000	–	14,298	–	2.07%	–
V	New	VISA INC	$1,822,000	–	33,528	–	2.03%	–
AXP	New	AMERICAN EXPRESS CO	$1,808,000	–	29,764	–	2.01%	–
ITW	New	ILLINOIS TOOL WKS INC	$1,742,000	–	10,968	–	1.94%	–
EMC	New	E M C CORP MASS	$1,550,000	–	57,035	–	1.72%	–
DUK	New	DUKE ENERGY CORP NEW	$1,518,000	–	17,697	–	1.69%	–
CMCSA	New	COMCAST CORP NEWcl a	$1,506,000	–	23,104	–	1.68%	–
DOW	New	DOW CHEM CO	$1,491,000	–	30,000	–	1.66%	–
CAT	New	CATERPILLAR INC DEL	$1,414,000	–	18,651	–	1.57%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,406,000	–	21,700	–	1.56%	–
ABBV	New	ABBVIE INC	$1,388,000	–	22,416	–	1.54%	–
CAG	New	CONAGRA FOODS INC	$1,370,000	–	28,650	–	1.52%	–
ABT	New	ABBOTT LABS	$1,260,000	–	32,066	–	1.40%	–
MSFT	New	MICROSOFT CORP	$1,170,000	–	22,880	–	1.30%	–
KHC	New	KRAFT HEINZ CO	$1,157,000	–	13,080	–	1.29%	–
BK	New	BANK NEW YORK MELLON CORP	$1,148,000	–	29,550	–	1.28%	–
PEP	New	PEPSICO INC	$1,148,000	–	10,840	–	1.28%	–
MDLZ	New	MONDELEZ INTL INCcl a	$1,141,000	–	26,450	–	1.27%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$1,086,000	–	13,046	–	1.21%	–
SLB	New	SCHLUMBERGER LTD	$978,000	–	12,375	–	1.09%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$958,000	–	22,100	–	1.07%	–
ABB	New	ABB LTDsponsored adr	$953,000	–	17,790	–	1.06%	–
JPM	New	JPMORGAN CHASE & CO	$904,000	–	14,554	–	1.01%	–
CSCO	New	CISCO SYS INC	$760,000	–	26,500	–	0.85%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$756,000	–	10,000	–	0.84%	–
COP	New	CONOCOPHILLIPS	$719,000	–	16,486	–	0.80%	–
TXN	New	TEXAS INSTRS INC	$694,000	–	11,086	–	0.77%	–
KO	New	COCA COLA CO	$679,000	–	14,980	–	0.76%	–
WY	New	WEYERHAEUSER CO	$675,000	–	22,704	–	0.75%	–
POT	New	POTASH CORP SASK INC	$671,000	–	41,340	–	0.75%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$623,000	–	12,415	–	0.69%	–
TRN	New	TRINITY INDS INC	$607,000	–	32,700	–	0.68%	–
LSXMA	New	LIBERTY MEDIA CORP DELAWARE	$556,000	–	17,710	–	0.62%	–
CSX	New	CSX CORP	$517,000	–	19,845	–	0.58%	–
LNG	New	CHENIERE ENERGY INC	$422,000	–	11,250	–	0.47%	–
SWHC	New	SMITH & WESSON HLDG CORP	$408,000	–	15,000	–	0.45%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$403,000	–	36,216	–	0.45%	–
CNQ	New	CANADIAN NAT RES LTD	$393,000	–	12,750	–	0.44%	–
PHO	New	POWERSHARES ETF TRUSTwater resource	$324,000	–	13,700	–	0.36%	–
PBCT	New	PEOPLES UNITED FINANCIAL INC	$263,000	–	17,936	–	0.29%	–

Q4 2015

			Value		Shares		↓ Weighting
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-20,550	–	-0.16%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-16,250	–	-0.35%	–
PBCT	Exit	PEOPLES UNITED FINANCIAL INC	$0	–	-21,836	–	-0.38%	–
F	Exit	FORD MTR CO DEL	$0	–	-25,075	–	-0.38%	–
DE	Exit	DEERE & CO	$0	–	-4,800	–	-0.39%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-37,000	–	-0.40%	–
WY	Exit	WEYERHAEUSER CO	$0	–	-17,000	–	-0.49%	–
CSX	Exit	CSX CORP	$0	–	-21,195	–	-0.64%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-10,000	–	-0.71%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-15,000	–	-0.81%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-16,412	–	-0.88%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDadr	$0	–	-14,365	–	-0.93%	–
TRN	Exit	TRINITY INDS INC	$0	–	-37,600	–	-0.93%	–
KO	Exit	COCA COLA CO	$0	–	-22,165	–	-0.99%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-13,000	–	-1.03%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-14,875	–	-1.12%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-12,700	–	-1.14%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-7,138	–	-1.14%	–
ABT	Exit	ABBOTT LABS	$0	–	-26,566	–	-1.20%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-22,600	–	-1.21%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-26,450	–	-1.24%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-14,000	–	-1.27%	–
POT	Exit	POTASH CORP SASK INC	$0	–	-46,436	–	-1.29%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-19,000	–	-1.30%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-10,900	–	-1.32%	–
CSCO	Exit	CISCO SYS INC	$0	–	-46,500	–	-1.33%	–
DOW	Exit	DOW CHEM CO	$0	–	-30,000	–	-1.41%	–
ABBV	Exit	ABBVIE INC	$0	–	-23,516	–	-1.44%	–
PEP	Exit	PEPSICO INC	$0	–	-14,521	–	-1.51%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-34,850	–	-1.52%	–
HD	Exit	HOME DEPOT INC	$0	–	-11,750	–	-1.52%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-26,647	–	-1.56%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-27,550	–	-1.60%	–
EMC	Exit	E M C CORP MASS	$0	–	-60,000	–	-1.61%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-21,197	–	-1.66%	–
CAG	Exit	CONAGRA FOODS INC	$0	–	-38,850	–	-1.76%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-19,269	–	-1.85%	–
V	Exit	VISA INC	$0	–	-40,000	–	-1.91%	–
BA	Exit	BOEING CO	$0	–	-13,632	–	-1.98%	–
PFE	Exit	PFIZER INC	$0	–	-67,152	–	-2.37%	–
BAC	Exit	BANK AMER CORP	$0	–	-145,750	–	-2.77%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-35,689	–	-2.85%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-50,000	–	-2.85%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-35,229	–	-2.89%	–
AMGN	Exit	AMGEN INC	$0	–	-16,600	–	-2.89%	–
MMM	Exit	3M CO	$0	–	-20,000	–	-3.14%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-44,223	–	-3.25%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-37,000	–	-3.82%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-47,833	–	-3.93%	–
INTC	Exit	INTEL CORP	$0	–	-119,637	–	-4.31%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-50,438	–	-4.95%	–
AAPL	Exit	APPLE INC	$0	–	-35,000	–	-4.96%	–
T	Exit	AT&T INC	$0	–	-147,000	–	-5.24%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-179,319	–	-5.44%	–

Q3 2015

			Value		Shares		↓ Weighting
GE	Buy	GENERAL ELECTRIC CO	$4,905,000	+22.7%	179,319	+19.5%	5.44%	+21.9%
T	Sell	AT&T INC	$4,721,000	-10.3%	147,000	-0.7%	5.24%	-10.9%
AAPL	Buy	APPLE INC	$4,475,000	+135.7%	35,000	+133.3%	4.96%	+134.2%
CVX	Buy	CHEVRON CORP NEW	$4,459,000	-7.2%	50,438	+0.9%	4.95%	-7.8%
INTC	Sell	INTEL CORP	$3,883,000	+7.2%	119,637	-0.3%	4.31%	+6.6%
XOM	Sell	EXXON MOBIL CORP	$3,542,000	-14.4%	47,833	-4.3%	3.93%	-14.9%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$2,927,000	-5.9%	44,223	-3.9%	3.25%	-6.5%
AXP	Buy	AMERICAN EXPRESS CO	$2,603,000	-5.1%	35,229	+0.7%	2.89%	-5.7%
PG	Buy	PROCTER & GAMBLE CO	$2,568,000	-8.0%	35,689	+2.0%	2.85%	-8.5%
BAC	New	BANK AMER CORP	$2,495,000	–	145,750	–	2.77%	–
PFE	Sell	PFIZER INC	$2,138,000	-6.6%	67,152	-1.2%	2.37%	-7.2%
BA	Sell	BOEING CO	$1,780,000	-9.6%	13,632	-2.6%	1.98%	-10.2%
CAT	Buy	CATERPILLAR INC DEL	$1,665,000	+4.4%	19,269	+1.4%	1.85%	+3.7%
CAG	Sell	CONAGRA FOODS INC	$1,589,000	-8.6%	38,850	-0.4%	1.76%	-9.2%
DUK	New	DUKE ENERGY CORP NEW	$1,497,000	–	21,197	–	1.66%	–
EMC	Sell	E M C CORP MASS	$1,452,000	-15.4%	60,000	-7.7%	1.61%	-16.0%
MSFT	Buy	MICROSOFT CORP	$1,442,000	+20.2%	27,550	+2.0%	1.60%	+19.4%
ABB	Sell	ABB LTDsponsored adr	$1,407,000	-25.4%	26,647	-29.9%	1.56%	-25.8%
HD	Sell	HOME DEPOT INC	$1,375,000	+2.3%	11,750	-2.1%	1.52%	+1.6%
BK	Sell	BANK NEW YORK MELLON CORP	$1,372,000	-7.0%	34,850	-0.4%	1.52%	-7.6%
PEP	Sell	PEPSICO INC	$1,362,000	-3.9%	14,521	-3.2%	1.51%	-4.5%
ABBV	Sell	ABBVIE INC	$1,296,000	-24.3%	23,516	-5.9%	1.44%	-24.8%
KMB	New	KIMBERLY CLARK CORP	$1,185,000	–	10,900	–	1.32%	–
JPM	Sell	JPMORGAN CHASE & CO	$1,167,000	-14.3%	19,000	-5.0%	1.30%	-14.8%
POT	Sell	POTASH CORP SASK INC	$1,165,000	-25.2%	46,436	-7.1%	1.29%	-25.7%
ITW	Sell	ILLINOIS TOOL WKS INC	$1,142,000	-18.5%	14,000	-6.7%	1.27%	-19.0%
MDLZ	Sell	MONDELEZ INTL INCcl a	$1,116,000	-0.6%	26,450	-2.0%	1.24%	-1.3%
DD	Sell	DU PONT E I DE NEMOURS & CO	$1,092,000	-22.7%	22,600	-1.7%	1.21%	-23.1%
ABT	Sell	ABBOTT LABS	$1,082,000	-21.9%	26,566	-5.1%	1.20%	-22.4%
COST	New	COSTCO WHSL CORP NEW	$1,031,000	–	7,138	–	1.14%	–
SLB	Sell	SCHLUMBERGER LTD	$1,006,000	-20.4%	14,875	-0.8%	1.12%	-20.9%
KHC	New	KRAFT HEINZ CO	$926,000	–	13,000	–	1.03%	–
KO	Sell	COCA COLA CO	$892,000	-1.9%	22,165	-3.6%	0.99%	-2.5%
TRN	Sell	TRINITY INDS INC	$841,000	-20.1%	37,600	-6.0%	0.93%	-20.6%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDadr	$840,000	-8.1%	14,365	-4.2%	0.93%	-8.6%
COP	Buy	CONOCOPHILLIPS	$791,000	-17.6%	16,412	+2.6%	0.88%	-18.1%
CSX	Buy	CSX CORP	$572,000	-13.1%	21,195	+6.0%	0.64%	-13.6%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$364,000	-56.0%	37,000	-17.8%	0.40%	-56.3%
DE	New	DEERE & CO	$350,000	–	4,800	–	0.39%	–
F	Buy	FORD MTR CO DEL	$342,000	-8.8%	25,075	+0.3%	0.38%	-9.5%
PBCT	Buy	PEOPLES UNITED FINANCIAL INC	$340,000	-2.6%	21,836	+4.0%	0.38%	-3.3%
CNQ	Buy	CANADIAN NAT RES LTD	$315,000	-25.9%	16,250	+1.6%	0.35%	-26.4%
CHK	Buy	CHESAPEAKE ENERGY CORP	$148,000	-86.0%	20,550	+2.8%	0.16%	-86.1%
AA	Exit	ALCOA INC	$0	–	-12,000	–	-0.15%	–
TTE	Exit	TOTAL S Asponsored adr	$0	–	-12,000	–	-0.65%	–
KRFT	Exit	KRAFT FOODS GROUP INC	$0	–	-13,000	–	-1.28%	–

Q2 2015

			Value		Shares		↓ Weighting
T	New	AT&T INC	$5,264,000	–	148,000	–	5.88%	–
CVX	New	CHEVRON CORP NEW	$4,804,000	–	50,000	–	5.36%	–
XOM	New	EXXON MOBIL CORP	$4,136,000	–	50,000	–	4.62%	–
GE	New	GENERAL ELECTRIC CO	$3,999,000	–	150,000	–	4.46%	–
JNJ	New	JOHNSON & JOHNSON	$3,643,000	–	37,000	–	4.07%	–
INTC	New	INTEL CORP	$3,621,000	–	120,000	–	4.04%	–
MMM	New	3M CO	$3,113,000	–	20,000	–	3.48%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$3,112,000	–	46,000	–	3.47%	–
WFC	New	WELLS FARGO & CO NEW	$2,845,000	–	50,000	–	3.18%	–
PG	New	PROCTER & GAMBLE CO	$2,790,000	–	35,000	–	3.12%	–
AXP	New	AMERICAN EXPRESS CO	$2,744,000	–	35,000	–	3.06%	–
AMGN	New	AMGEN INC	$2,572,000	–	16,600	–	2.87%	–
PFE	New	PFIZER INC	$2,290,000	–	68,000	–	2.56%	–
BA	New	BOEING CO	$1,970,000	–	14,000	–	2.20%	–
AAPL	New	APPLE INC	$1,899,000	–	15,000	–	2.12%	–
ABB	New	ABB LTDsponsored adr	$1,885,000	–	38,000	–	2.10%	–
V	New	VISA INC	$1,880,000	–	40,000	–	2.10%	–
CAG	New	CONAGRA FOODS INC	$1,739,000	–	39,000	–	1.94%	–
EMC	New	E M C CORP MASS	$1,717,000	–	65,000	–	1.92%	–
ABBV	New	ABBVIE INC	$1,712,000	–	25,000	–	1.91%	–
CAT	New	CATERPILLAR INC DEL	$1,595,000	–	19,000	–	1.78%	–
POT	New	POTASH CORP SASK INC	$1,558,000	–	50,000	–	1.74%	–
DOW	New	DOW CHEM CO	$1,541,000	–	30,000	–	1.72%	–
BK	New	BANK NEW YORK MELLON CORP	$1,476,000	–	35,000	–	1.65%	–
PEP	New	PEPSICO INC	$1,418,000	–	15,000	–	1.58%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,412,000	–	23,000	–	1.58%	–
ITW	New	ILLINOIS TOOL WKS INC	$1,401,000	–	15,000	–	1.56%	–
ABT	New	ABBOTT LABS	$1,386,000	–	28,000	–	1.55%	–
JPM	New	JPMORGAN CHASE & CO	$1,361,000	–	20,000	–	1.52%	–
HD	New	HOME DEPOT INC	$1,344,000	–	12,000	–	1.50%	–
CSCO	New	CISCO SYS INC	$1,271,000	–	46,500	–	1.42%	–
SLB	New	SCHLUMBERGER LTD	$1,264,000	–	15,000	–	1.41%	–
MSFT	New	MICROSOFT CORP	$1,200,000	–	27,000	–	1.34%	–
KRFT	New	KRAFT FOODS GROUP INC	$1,148,000	–	13,000	–	1.28%	–
MDLZ	New	MONDELEZ INTL INCcl a	$1,123,000	–	27,000	–	1.25%	–
EL	New	LAUDER ESTEE COS INCcl a	$1,113,000	–	12,700	–	1.24%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,055,000	–	20,000	–	1.18%	–
TRN	New	TRINITY INDS INC	$1,052,000	–	40,000	–	1.18%	–
COP	New	CONOCOPHILLIPS	$960,000	–	16,000	–	1.07%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDadr	$914,000	–	15,000	–	1.02%	–
KO	New	COCA COLA CO	$909,000	–	23,000	–	1.02%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$828,000	–	45,000	–	0.92%	–
TXN	New	TEXAS INSTRS INC	$779,000	–	15,000	–	0.87%	–
CL	New	COLGATE PALMOLIVE CO	$662,000	–	10,000	–	0.74%	–
CSX	New	CSX CORP	$658,000	–	20,000	–	0.74%	–
TTE	New	TOTAL S Asponsored adr	$579,000	–	12,000	–	0.65%	–
WY	New	WEYERHAEUSER CO	$544,000	–	17,000	–	0.61%	–
CNQ	New	CANADIAN NAT RES LTD	$425,000	–	16,000	–	0.47%	–
F	New	FORD MTR CO DEL	$375,000	–	25,000	–	0.42%	–
PBCT	New	PEOPLES UNITED FINANCIAL INC	$349,000	–	21,000	–	0.39%	–
AA	New	ALCOA INC	$133,000	–	12,000	–	0.15%	–

Q4 2014

			Value		Shares		↓ Weighting
L	Exit	LOEWS	$0	–	-10,000	–	-0.51%	–
EWA	Exit	I SHARES AUSTRALIA	$0	–	-20,000	–	-0.60%	–
KRFT	Exit	KRAFT	$0	–	-10,000	–	-0.66%	–
BX	Exit	BLACKSTONE	$0	–	-18,000	–	-0.69%	–
SE	Exit	SPECTRA ENERGY	$0	–	-16,400	–	-0.70%	–
VEOEY	Exit	VEOLIA	$0	–	-31,000	–	-0.71%	–
WY	Exit	WEYERHAUSER	$0	–	-23,000	–	-0.78%	–
CSX	Exit	CSX	$0	–	-24,500	–	-0.82%	–
C	Exit	CITIGROUP	$0	–	-15,000	–	-0.82%	–
CNQ	Exit	CANADIAN NAT. RES.	$0	–	-20,000	–	-0.89%	–
MDLZ	Exit	MONDELEZ	$0	–	-25,000	–	-1.02%	–
BK	Exit	BANK OF NEW YORK MELLON	$0	–	-26,000	–	-1.06%	–
APC	Exit	ANADARKO	$0	–	-11,000	–	-1.08%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-15,000	–	-1.12%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-30,000	–	-1.15%	–
CHK	Exit	CHESAPEAKE ENERGY	$0	–	-40,000	–	-1.19%	–
ABBV	Exit	ABBVIE	$0	–	-20,000	–	-1.19%	–
EL	Exit	ESTEE LAUDER	$0	–	-15,700	–	-1.22%	–
POT	Exit	POTASH	$0	–	-30,000	–	-1.26%	–
EMC	Exit	EMC	$0	–	-40,000	–	-1.27%	–
COST	Exit	COSTCO	$0	–	-10,000	–	-1.29%	–
WAG	Exit	WALGREEN	$0	–	-17,000	–	-1.30%	–
MSFT	Exit	MICROSOFT	$0	–	-28,000	–	-1.33%	–
TTE	Exit	TOTAL SA	$0	–	-17,500	–	-1.33%	–
CSCO	Exit	CISCO	$0	–	-51,300	–	-1.33%	–
CAG	Exit	CONAGRA	$0	–	-37,000	–	-1.34%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-15,000	–	-1.44%	–
PEP	Exit	PEPSICO	$0	–	-15,000	–	-1.45%	–
NSC	Exit	NORFOLK & SOUTHERN	$0	–	-13,000	–	-1.46%	–
V	Exit	VERIZON	$0	–	-27,000	–	-1.49%	–
ABT	Exit	ABBOTT LABS	$0	–	-34,000	–	-1.52%	–
DUK	Exit	DUKE ENERGY	$0	–	-19,000	–	-1.57%	–
BACWSA	Exit	BANK OF AMERICA	$0	–	-85,000	–	-1.69%	–
ABB	Exit	ABB	$0	–	-25,500	–	-1.70%	–
KMB	Exit	KIMBERLY CLARK	$0	–	-15,000	–	-1.91%	–
TRN	Exit	TRINITY INDUSTRIES	$0	–	-23,000	–	-1.92%	–
COP	Exit	CONOCO	$0	–	-25,000	–	-2.04%	–
DD	Exit	E.I. DUPONT	$0	–	-27,000	–	-2.10%	–
BA	Exit	BOEING	$0	–	-14,486	–	-2.10%	–
CAT	Exit	CATERPILLAR TRACTOR	$0	–	-18,660	–	-2.15%	–
SLB	Exit	SCHLUMBERGER	$0	–	-20,000	–	-2.27%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-24,140	–	-2.52%	–
PFE	Exit	PFIZER	$0	–	-70,000	–	-2.60%	–
WFC	Exit	WELLS FARGO	$0	–	-47,000	–	-2.70%	–
T	Exit	AT&T	$0	–	-98,000	–	-2.74%	–
BMY	Exit	BRISTOL MYERS	$0	–	-52,000	–	-3.11%	–
MMM	Exit	3M CORP.	$0	–	-20,000	–	-3.14%	–
AMGN	Exit	AMGEN	$0	–	-22,797	–	-3.26%	–
PG	Exit	PROCTER&GAMBLE	$0	–	-33,000	–	-3.27%	–
INTC	Exit	INTEL	$0	–	-110,000	–	-3.29%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-32,000	–	-3.64%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-125,000	–	-3.75%	–
XOM	Exit	EXXON MOBIL	$0	–	-50,000	–	-5.65%	–
CVX	Exit	CHEVRON	$0	–	-50,000	–	-6.88%	–

Q3 2014

			Value		Shares		↓ Weighting
SLB	Buy	SCHLUMBERGER	$1,962,000	+10.9%	20,000	+33.3%	2.27%	+17.5%
TRN	Sell	TRINITY INDUSTRIES	$1,657,000	+11.5%	23,000	-32.4%	1.92%	+18.2%
ABB	Buy	ABB	$1,471,000	+33.4%	25,500	+8.4%	1.70%	+41.3%
BACWSA	New	BANK OF AMERICA	$1,462,000	–	85,000	–	1.69%	–
DUK	New	DUKE ENERGY	$1,353,000	–	19,000	–	1.57%	–
CSCO	Buy	CISCO	$1,149,000	-9.3%	51,300	+0.6%	1.33%	-3.9%
WAG	Sell	WALGREEN	$1,122,000	-24.3%	17,000	-15.0%	1.30%	-19.8%
POT	Sell	POTASH	$1,088,000	-18.1%	30,000	-14.3%	1.26%	-13.2%
FCX	Sell	FREEPORT MCMORAN	$997,000	-21.9%	30,000	-14.3%	1.15%	-17.3%
CL	Sell	COLGATE PALMOLIVE	$967,000	-8.4%	15,000	-3.2%	1.12%	-2.9%
APC	New	ANADARKO	$932,000	–	11,000	–	1.08%	–
C	New	CITIGROUP	$711,000	–	15,000	–	0.82%	–
BX	New	BLACKSTONE	$599,000	–	18,000	–	0.69%	–
KRFT	Sell	KRAFT	$567,000	-21.1%	10,000	-16.7%	0.66%	-16.4%
L	Sell	LOEWS	$440,000	-33.3%	10,000	-33.3%	0.51%	-29.4%
AKS	Exit	AK STL HLDG CORP	$0	–	-19,000	–	-0.17%	–
AA	Exit	ALCOA INC	$0	–	-11,500	–	-0.22%	–
	Exit	BLACKSTONE	$0	–	-18,000	–	-0.66%	–
C	Exit	CITIGROUP	$0	–	-15,000	–	-0.77%	–
AAPL	Exit	APPLE INC	$0	–	-10,000	–	-1.01%	–
SJD	Exit	BANK OF AMERICA	$0	–	-85,000	–	-1.43%	–
DUK	Exit	DUKE ENERGY	$0	–	-19,000	–	-1.50%	–

Q2 2014

			Value		Shares		↓ Weighting
CVX	New	CHEVRON CORP NEW	$6,527,000	–	50,000	–	7.13%	–
XOM	New	EXXON MOBIL CORP	$5,034,000	–	50,000	–	5.50%	–
T	New	AT&T INC	$3,465,000	–	98,000	–	3.78%	–
INTC	New	INTEL CORP	$3,399,000	–	110,000	–	3.71%	–
JNJ	New	JOHNSON & JOHNSON	$3,348,000	–	32,000	–	3.66%	–
GE	New	GENERAL ELECTRIC CO	$3,285,000	–	125,000	–	3.59%	–
MMM	New	3M CO	$2,864,000	–	20,000	–	3.13%	–
AMGN	New	AMGEN INC	$2,698,000	–	22,797	–	2.95%	–
PG	New	PROCTER & GAMBLE CO	$2,593,000	–	33,000	–	2.83%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$2,520,000	–	52,000	–	2.75%	–
WFC	New	WELLS FARGO & CO NEW	$2,470,000	–	47,000	–	2.70%	–
AXP	New	AMERICAN EXPRESS CO	$2,290,000	–	24,140	–	2.50%	–
COP	New	CONOCOPHILLIPS	$2,143,000	–	25,000	–	2.34%	–
PFE	New	PFIZER INC	$2,078,000	–	70,000	–	2.27%	–
CAT	New	CATERPILLAR INC DEL	$2,021,000	–	18,660	–	2.21%	–
BA	New	BOEING CO	$1,843,000	–	14,486	–	2.01%	–
SLB	New	SCHLUMBERGER LTD	$1,769,000	–	15,000	–	1.93%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,767,000	–	27,000	–	1.93%	–
KMB	New	KIMBERLY CLARK CORP	$1,668,000	–	15,000	–	1.82%	–
TRN	New	TRINITY INDS INC	$1,486,000	–	34,000	–	1.62%	–
WAG	New	WALGREEN CO	$1,482,000	–	20,000	–	1.62%	–
ABT	New	ABBOTT LABS	$1,390,000	–	34,000	–	1.52%	–
DUK	New	DUKE ENERGY	$1,370,000	–	19,000	–	1.50%	–
PEP	New	PEPSICO INC	$1,340,000	–	15,000	–	1.46%	–
NSC	New	NORFOLK SOUTHERN CORP	$1,339,000	–	13,000	–	1.46%	–
POT	New	POTASH CORP SASK INC	$1,328,000	–	35,000	–	1.45%	–
V	New	VISA INC	$1,321,000	–	27,000	–	1.44%	–
ITW	New	ILLINOIS TOOL WKS INC	$1,315,000	–	15,000	–	1.44%	–
SJD	New	BANK OF AMERICA	$1,306,000	–	85,000	–	1.43%	–
FCX	New	FREEPORT-MCMORAN COPPER & GO	$1,277,000	–	35,000	–	1.40%	–
CSCO	New	CISCO SYS INC	$1,267,000	–	51,000	–	1.38%	–
TTE	New	TOTAL S Asponsored adr	$1,263,000	–	17,500	–	1.38%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,243,000	–	40,000	–	1.36%	–
MSFT	New	MICROSOFT CORP	$1,167,000	–	28,000	–	1.28%	–
EL	New	LAUDER ESTEE COS INCcl a	$1,166,000	–	15,700	–	1.27%	–
COST	New	COSTCO WHSL CORP NEW	$1,151,000	–	10,000	–	1.26%	–
ABBV	New	ABBVIE INC	$1,129,000	–	20,000	–	1.23%	–
ABB	New	ABB LTDsponsored adr	$1,103,000	–	23,525	–	1.20%	–
CAG	New	CONAGRA FOODS INC	$1,098,000	–	37,000	–	1.20%	–
CL	New	COLGATE PALMOLIVE CO	$1,056,000	–	15,500	–	1.15%	–
EMC	New	E M C CORP MASS	$1,054,000	–	40,000	–	1.15%	–
BK	New	BANK NEW YORK MELLON CORP	$975,000	–	26,000	–	1.06%	–
MDLZ	New	MONDELEZ INTL INCcl a	$940,000	–	25,000	–	1.03%	–
AAPL	New	APPLE INC	$923,000	–	10,000	–	1.01%	–
CNQ	New	CANADIAN NAT RES LTD	$918,000	–	20,000	–	1.00%	–
WY	New	WEYERHAEUSER CO	$761,000	–	23,000	–	0.83%	–
CSX	New	CSX CORP	$755,000	–	24,500	–	0.82%	–
KRFT	New	KRAFT FOODS GROUP INC	$719,000	–	12,000	–	0.78%	–
C	New	CITIGROUP	$707,000	–	15,000	–	0.77%	–
SE	New	SPECTRA ENERGY CORP	$696,000	–	16,400	–	0.76%	–
L	New	LOEWS CORP	$660,000	–	15,000	–	0.72%	–
	New	BLACKSTONE	$602,000	–	18,000	–	0.66%	–
VEOEY	New	VEOLIA ENVIRONNEMENTsponsored adr	$589,000	–	31,000	–	0.64%	–
EWA	New	ISHARESmsci aust etf	$523,000	–	20,000	–	0.57%	–
AA	New	ALCOA INC	$201,000	–	11,500	–	0.22%	–
AKS	New	AK STL HLDG CORP	$159,000	–	19,000	–	0.17%	–

Q4 2013

			Value		Shares		↓ Weighting
ABB	Exit	ABB	$0	–	-12,500	–	-0.39%	–
ATI	Exit	ALLEGHENY	$0	–	-11,250	–	-0.47%	–
BK	Exit	BANK OF NEW YORK MELLON	$0	–	-12,300	–	-0.50%	–
NE	Exit	NOBLE CORP	$0	–	-10,000	–	-0.51%	–
EWA	Exit	I SHARES AUSTRALIA	$0	–	-17,500	–	-0.60%	–
L	Exit	LOEWS	$0	–	-10,000	–	-0.64%	–
POT	Exit	POTASH	$0	–	-15,000	–	-0.64%	–
C	Exit	CITIGROUP	$0	–	-10,000	–	-0.66%	–
VEOEY	Exit	VEOLIA	$0	–	-31,000	–	-0.72%	–
CSX	Exit	CSX	$0	–	-24,500	–	-0.86%	–
WY	Exit	WEYERHAUSER	$0	–	-23,000	–	-0.90%	–
CSCO	Exit	CISCO	$0	–	-32,000	–	-1.02%	–
MDLZ	Exit	MONDELEZ	$0	–	-25,000	–	-1.07%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-20,000	–	-1.12%	–
ETN	Exit	EATON	$0	–	-12,700	–	-1.14%	–
IR	Exit	INGERSOLL RAND	$0	–	-14,000	–	-1.20%	–
ABBV	Exit	ABBVIE	$0	–	-20,000	–	-1.22%	–
CHK	Exit	CHESAPEAKE ENERGY	$0	–	-35,000	–	-1.23%	–
TRN	Exit	TRINITY INDUSTRIES	$0	–	-25,000	–	-1.23%	–
WAG	Exit	WALGREEN	$0	–	-17,000	–	-1.24%	–
CL	Exit	COLGATE PALMOLIVE	$0	–	-15,500	–	-1.25%	–
MSFT	Exit	MICROSOFT	$0	–	-28,000	–	-1.27%	–
CAG	Exit	CONAGRA	$0	–	-32,000	–	-1.32%	–
ABT	Exit	ABBOTT LABS	$0	–	-30,000	–	-1.35%	–
APC	Exit	ANADARKO	$0	–	-11,000	–	-1.36%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-13,000	–	-1.37%	–
TTE	Exit	TOTAL SA	$0	–	-17,500	–	-1.39%	–
EMC	Exit	EMC	$0	–	-40,000	–	-1.39%	–
DUK	Exit	DUKE ENERGY	$0	–	-16,000	–	-1.45%	–
EL	Exit	ESTEE LAUDER	$0	–	-15,700	–	-1.49%	–
WFC	Exit	WELLS FARGO	$0	–	-27,000	–	-1.52%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-15,000	–	-1.54%	–
COST	Exit	COSTCO	$0	–	-10,000	–	-1.57%	–
SJD	Exit	BANK OF AMERICA	$0	–	-85,000	–	-1.60%	–
V	Exit	VERIZON	$0	–	-25,500	–	-1.61%	–
PEP	Exit	PEPSICO	$0	–	-16,000	–	-1.73%	–
DD	Exit	E.I. DUPONT	$0	–	-22,000	–	-1.75%	–
SLB	Exit	SCHLUMBERGER	$0	–	-15,000	–	-1.80%	–
KMB	Exit	KIMBERLY CLARK	$0	–	-15,000	–	-1.92%	–
CAT	Exit	CATERPILLAR TRACTOR	$0	–	-18,660	–	-2.12%	–
BA	Exit	BOEING	$0	–	-14,486	–	-2.32%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-24,140	–	-2.48%	–
PFE	Exit	PFIZER	$0	–	-65,000	–	-2.50%	–
INTC	Exit	INTEL	$0	–	-90,000	–	-2.76%	–
COP	Exit	CONOCO	$0	–	-30,000	–	-2.84%	–
BMY	Exit	BRISTOL MYERS	$0	–	-48,930	–	-3.08%	–
PG	Exit	PROCTER AND GAMBLE	$0	–	-30,000	–	-3.08%	–
MMM	Exit	3M CORP.	$0	–	-20,000	–	-3.22%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-99,500	–	-3.22%	–
AMGN	Exit	AMGEN	$0	–	-22,797	–	-3.47%	–
JNJ	Exit	JOHNSON AND JOHNSON	$0	–	-30,000	–	-3.54%	–
T	Exit	ATT	$0	–	-98,000	–	-4.51%	–
XOM	Exit	EXXON MOBIL	$0	–	-50,000	–	-6.52%	–
CVX	Exit	CHEVRON	$0	–	-50,000	–	-8.27%	–

Q3 2013

			Value		Shares		↓ Weighting
CVX	Sell	CHEVRON	$6,075,000	+1.1%	50,000	-1.0%	8.27%	-4.5%
XOM	Sell	EXXON MOBIL	$4,788,000	-4.0%	50,000	-9.1%	6.52%	-9.4%
MMM	Buy	3M CORP.	$2,366,000	+11.7%	20,000	+3.6%	3.22%	+5.4%
COP	Buy	CONOCO	$2,085,000	+36.9%	30,000	+20.0%	2.84%	+29.2%
DD	Buy	E.I. DUPONT	$1,288,000	+12.7%	22,000	+1.1%	1.75%	+6.4%
PEP	Buy	PEPSICO	$1,272,000	+2.9%	16,000	+6.7%	1.73%	-2.9%
SJD	Buy	BANK OF AMERICA	$1,173,000	+11.1%	85,000	+4.7%	1.60%	+4.9%
WFC	Buy	WELLS FARGO	$1,116,000	+21.4%	27,000	+22.7%	1.52%	+14.6%
DUK	Buy	DUKE ENERGY	$1,068,000	+13.1%	16,000	+14.3%	1.45%	+6.8%
EMC	Buy	EMC	$1,022,000	+18.2%	40,000	+9.7%	1.39%	+11.5%
NSC	Buy	NORFOLK SOUTHERN	$1,006,000	+7.8%	13,000	+1.6%	1.37%	+1.8%
ABT	Buy	ABBOTT LABS	$995,000	+13.2%	30,000	+20.0%	1.35%	+6.9%
CAG	Buy	CONAGRA	$971,000	-0.9%	32,000	+14.3%	1.32%	-6.5%
CL	Buy	COLGATE PALMOLIVE	$919,000	-52.5%	15,500	+3.3%	1.25%	-55.1%
WAG	Sell	WALGREEN	$915,000	+1.7%	17,000	-15.0%	1.24%	-4.0%
CHK	Buy	CHESAPEAKE ENERGY	$906,000	+47.8%	35,000	+16.7%	1.23%	+39.5%
MDLZ	Buy	MONDELEZ	$786,000	+171.0%	25,000	+150.0%	1.07%	+156.0%
CSCO	Buy	CISCO	$749,000	+1.6%	32,000	+6.7%	1.02%	-4.0%
VEOEY	Buy	VEOLIA	$531,000	+54.8%	31,000	+3.3%	0.72%	+46.4%
C	Sell	CITIGROUP	$485,000	-17.0%	10,000	-16.7%	0.66%	-21.6%
POT	New	POTASH	$469,000	–	15,000	–	0.64%	–
L	New	LOEWS	$467,000	–	10,000	–	0.64%	–
EWA	Sell	I SHARES AUSTRALIA	$442,000	+31.2%	17,500	-16.7%	0.60%	+23.7%
NE	Sell	NOBLE CORP	$378,000	-30.6%	10,000	-31.0%	0.51%	-34.6%
BK	New	BANK OF NEW YORK MELLON	$371,000	–	12,300	–	0.50%	–
ATI	Buy	ALLEGHENY	$343,000	+21.2%	11,250	+4.7%	0.47%	+14.5%
ABB	New	ABB	$285,000	–	12,500	–	0.39%	–
AA	Exit	ALCOA	$0	–	-22,500	–	-0.25%	–

Q2 2013

			Value		Shares		↓ Weighting
CVX	New	CHEVRON	$6,008,000	–	50,502	–	8.66%	–
XOM	New	EXXON MOBIL	$4,988,000	–	55,000	–	7.19%	–
T	New	ATT	$3,479,000	–	98,000	–	5.02%	–
JNJ	New	JOHNSON JOHNSON	$2,588,000	–	30,000	–	3.73%	–
PG	New	PROCTERGAMBLE	$2,322,000	–	30,000	–	3.35%	–
AMGN	New	AMGEN	$2,314,000	–	22,797	–	3.34%	–
GE	New	GENERAL ELECTRIC	$2,312,000	–	99,500	–	3.33%	–
BMY	New	BRISTOL MYERS	$2,215,000	–	48,930	–	3.19%	–
INTC	New	INTEL	$2,185,000	–	90,000	–	3.15%	–
MMM	New	3M CORP.	$2,119,000	–	19,300	–	3.06%	–
CL	New	COLGATE PALMOLIVE	$1,934,000	–	15,000	–	2.79%	–
PFE	New	PFIZER	$1,825,000	–	65,000	–	2.63%	–
AXP	New	AMERICAN EXPRESS	$1,730,000	–	24,140	–	2.49%	–
CAT	New	CATERPILLAR TRACTOR	$1,542,000	–	18,660	–	2.22%	–
COP	New	CONOCO	$1,523,000	–	25,000	–	2.20%	–
BA	New	BOEING	$1,495,000	–	14,486	–	2.16%	–
KMB	New	KIMBERLY CLARK	$1,459,000	–	15,000	–	2.10%	–
V	New	VERIZON	$1,286,000	–	25,500	–	1.85%	–
PEP	New	PEPSICO	$1,236,000	–	15,000	–	1.78%	–
DD	New	E.I. DUPONT	$1,143,000	–	21,750	–	1.65%	–
COST	New	COSTCO	$1,108,000	–	10,000	–	1.60%	–
SLB	New	SCHLUMBERGER	$1,082,000	–	15,000	–	1.56%	–
SJD	New	BANK OF AMERICA	$1,056,000	–	81,215	–	1.52%	–
ITW	New	ILLINOIS TOOL WORKS	$1,048,000	–	15,000	–	1.51%	–
EL	New	ESTEE LAUDER	$1,040,000	–	15,700	–	1.50%	–
CAG	New	CONAGRA	$980,000	–	28,000	–	1.41%	–
MSFT	New	MICROSOFT	$973,000	–	28,000	–	1.40%	–
TRN	New	TRINITY INDUSTRIES	$966,000	–	25,000	–	1.39%	–
APC	New	ANADARKO	$955,000	–	11,000	–	1.38%	–
DUK	New	DUKE ENERGY	$944,000	–	14,000	–	1.36%	–
NSC	New	NORFOLK SOUTHERN	$933,000	–	12,800	–	1.34%	–
WFC	New	WELLS FARGO	$919,000	–	22,000	–	1.32%	–
WAG	New	WALGREEN	$900,000	–	20,000	–	1.30%	–
ABT	New	ABBOTT LABS	$879,000	–	25,000	–	1.27%	–
EMC	New	EMC	$865,000	–	36,475	–	1.25%	–
TTE	New	TOTAL SA	$856,000	–	17,500	–	1.23%	–
ETN	New	EATON	$840,000	–	12,700	–	1.21%	–
ABBV	New	ABBVIE	$831,000	–	20,000	–	1.20%	–
IR	New	INGERSOLL RAND	$786,000	–	14,000	–	1.13%	–
CSCO	New	CISCO	$737,000	–	30,000	–	1.06%	–
WY	New	WEYERHAUSER	$659,000	–	23,000	–	0.95%	–
CHK	New	CHESAPEAKE ENERGY	$613,000	–	30,000	–	0.88%	–
C	New	CITIGROUP	$584,000	–	12,000	–	0.84%	–
CSX	New	CSX	$572,000	–	24,500	–	0.82%	–
FCX	New	FREEPORT MCMORAN	$562,000	–	20,000	–	0.81%	–
NE	New	NOBLE CORP	$545,000	–	14,500	–	0.79%	–
VEOEY	New	VEOLIA	$343,000	–	30,000	–	0.49%	–
EWA	New	I SHARES AUSTRALIA	$337,000	–	21,000	–	0.49%	–
MDLZ	New	MONDELEZ	$290,000	–	10,000	–	0.42%	–
ATI	New	ALLEGHENY	$283,000	–	10,750	–	0.41%	–
AA	New	ALCOA	$176,000	–	22,500	–	0.25%	–

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