Shelter Ins Retirement Plan Activity Q4 2008-Q3 2023

Q2 2023

			Value		Shares		↓ Weighting
IVV	New	ISHARES TRcore s&p500 etf	$62,942,720	–	141,219	–	58.95%	–
IEFA	New	ISHARES TRcore msci eafe	$26,067,420	–	386,184	–	24.41%	–
IEMG	New	ISHARES INCcore msci emkt	$11,800,026	–	239,400	–	11.05%	–
BKNG	New	BOOKING HOLDINGS INC	$1,620,198	–	600	–	1.52%	–
OTIS	New	OTIS WORLDWIDE CORP	$1,424,160	–	16,000	–	1.33%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$1,304,489	–	5,300	–	1.22%	–
MKL	New	MARKEL GROUP INC	$829,908	–	600	–	0.78%	–
HAS	New	HASBRO INC	$790,194	–	12,200	–	0.74%	–

Q4 2022

			Value		Shares		↓ Weighting
MKL	Exit	MARKEL CORP	$0	–	-600	–	-0.47%	–
HAS	Exit	HASBRO INC	$0	–	-12,200	–	-0.59%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-600	–	-0.71%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-16,000	–	-0.74%	–
STZ	Exit	CONSTELLATION BRANDS INC CL A	$0	–	-5,300	–	-0.88%	–
IEMG	Exit	ISHARES INC CORE MSCI EMKT	$0	–	-407,580	–	-12.61%	–
IEFA	Exit	ISHARES TR CORE MSCI EAFE	$0	–	-612,583	–	-23.22%	–
IVV	Exit	ISHARES TR CORE S&P500 ETF	$0	–	-235,490	–	-60.79%	–

Q2 2022

			Value		Shares		↓ Weighting
IVV	New	ISHARES TR CORE S&P500 ETF	$89,286,000	–	235,490	–	59.32%	–
IEFA	New	ISHARES TR CORE MSCI EAFE	$36,051,000	–	612,583	–	23.95%	–
IEMG	New	ISHARES INC CORE MSCI EMKT	$19,975,000	–	407,580	–	13.27%	–
STZ	New	CONSTELLATION BRANDS INC CL A	$1,235,000	–	5,300	–	0.82%	–
OTIS	New	OTIS WORLDWIDE CORP	$1,131,000	–	16,000	–	0.75%	–
BKNG	New	BOOKING HOLDINGS INC	$1,049,000	–	600	–	0.70%	–
HAS	New	HASBRO INC	$999,000	–	12,200	–	0.66%	–
MKL	New	MARKEL CORP	$776,000	–	600	–	0.52%	–

Q4 2021

			Value		Shares		↓ Weighting
MKL	Exit	MARKEL CORP	$0	–	-600	–	-0.40%	–
HAS	Exit	HASBRO INC	$0	–	-12,200	–	-0.61%	–
STZ	Exit	CONSTELLATION BRANDScl a	$0	–	-5,300	–	-0.63%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-16,000	–	-0.74%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-600	–	-0.80%	–
IEMG	Exit	ISHARES INCcore msci emkt	$0	–	-407,580	–	-14.16%	–
IEFA	Exit	ISHARES TRcore msci eafe	$0	–	-612,583	–	-25.58%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-235,490	–	-57.07%	–

Q3 2021

			Value		Shares		↓ Weighting
IVV	Buy	ISHARES TRcore s&p500 etf	$101,454,000	+0.7%	235,490	+0.4%	57.07%	-1.5%
IEFA	Buy	ISHARES TRcore msci eafe	$45,472,000	-0.2%	612,583	+0.6%	25.58%	-2.3%
IEMG	Buy	ISHARES INCcore msci emkt	$25,172,000	+14.8%	407,580	+24.5%	14.16%	+12.4%

Q2 2021

			Value		Shares		↓ Weighting
IVV	New	ISHARES TR	$100,796,000	–	234,452	–	57.92%	–
IEFA	New	ISHARES TR	$45,572,000	–	608,683	–	26.19%	–
IEMG	New	ISHARES INC	$21,934,000	–	327,380	–	12.60%	–
BKNG	New	BOOKING HOLDINGS INC	$1,313,000	–	600	–	0.75%	–
OTIS	New	OTIS WORLDWIDE CORP	$1,308,000	–	16,000	–	0.75%	–
STZ	New	CONSTELLATION BRANDScl a	$1,240,000	–	5,300	–	0.71%	–
HAS	New	HASBRO INC	$1,153,000	–	12,200	–	0.66%	–
MKL	New	MARKEL CORP	$712,000	–	600	–	0.41%	–

Q4 2020

			Value		Shares		↓ Weighting
MKL	Exit	MARKEL CORP	$0	–	-600	–	-0.31%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-16,000	–	-0.53%	–
STZ	Exit	CONSTELLATION BRANDScl a	$0	–	-5,300	–	-0.53%	–
HAS	Exit	HASBRO INC	$0	–	-12,200	–	-0.53%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-600	–	-0.54%	–
EEMV	Exit	ISHARES INC MSCI EMERG MRKT	$0	–	-361,700	–	-10.54%	–
EFAV	Exit	ISHARES TR MSCI EAFE MIN VL	$0	–	-838,500	–	-30.20%	–
USMV	Exit	ISHARES TR MSCI USA MIN VOL	$0	–	-1,685,700	–	-56.81%	–

Q2 2020

			Value		Shares		↓ Weighting
USMV	New	ISHARES TR MSCI MIN VOL ETF	$102,204,000	–	1,685,700	–	56.57%	–
EFAV	New	ISHARES TR MIN VOL EAFE ETF	$55,391,000	–	838,500	–	30.66%	–
EEMV	New	ISHARES INC MIN VOL EMRG MKT	$18,819,000	–	361,700	–	10.42%	–
BKNG	New	BOOKING HOLDINGS INC	$955,000	–	600	–	0.53%	–
STZ	New	CONSTELLATION BRANDScl a	$927,000	–	5,300	–	0.51%	–
HAS	New	HASBRO INC	$914,000	–	12,200	–	0.51%	–
OTIS	New	OTIS WORLDWIDE CORP	$910,000	–	16,000	–	0.50%	–
MKL	New	MARKEL CORP	$554,000	–	600	–	0.31%	–

Q4 2019

			Value		Shares		↓ Weighting
	Exit	VANGUARD TSM IDX INST	$0	–	-74,700	–	-2.80%	–
EEMV	Exit	ISHARES:EDGE MSCI MV EM	$0	–	-349,500	–	-10.18%	–
EFAV	Exit	ISHARES:EDGE MSCI MVEAFE	$0	–	-823,700	–	-30.81%	–
USMV	Exit	ISHARES:EDGE MSCI MV USA	$0	–	-1,717,600	–	-56.20%	–

Q3 2019

			Value		Shares		↓ Weighting
USMV	New	ISHARES:EDGE MSCI MV USA	$110,098,000	–	1,717,600	–	56.20%	–
EFAV	New	ISHARES:EDGE MSCI MVEAFE	$60,361,000	–	823,700	–	30.81%	–
EEMV	New	ISHARES:EDGE MSCI MV EM	$19,953,000	–	349,500	–	10.18%	–
ATVI	Exit	ACTIVISION BLIZZARD ORD	$0	–	-13,300	–	-0.32%	–
CI	Exit	CIGNA ORD	$0	–	-6,445	–	-0.51%	–
CLB	Exit	CORE LABORATORIES ORD	$0	–	-21,600	–	-0.57%	–
BBT	Exit	BB AND T ORD	$0	–	-34,300	–	-0.85%	–
GE	Exit	GENERAL ELECTRIC ORD	$0	–	-179,400	–	-0.95%	–
ECL	Exit	ECOLAB ORD	$0	–	-9,666	–	-0.96%	–
APA	Exit	APACHE ORD	$0	–	-69,400	–	-1.01%	–
DISCK	Exit	DISCOVERY SRS C ORD	$0	–	-78,200	–	-1.12%	–
GILD	Exit	GILEAD SCIENCES ORD	$0	–	-35,400	–	-1.20%	–
NEE	Exit	NEXTERA ENERGY ORD	$0	–	-12,300	–	-1.27%	–
TGT	Exit	TARGET ORD	$0	–	-29,900	–	-1.30%	–
ENB	Exit	ENBRIDGE ORD	$0	–	-73,800	–	-1.34%	–
SLB	Exit	SCHLUMBERGER ORD	$0	–	-69,200	–	-1.38%	–
OAK	Exit	OAKTREE CAPITAL GROUP CL A UNT	$0	–	-61,100	–	-1.52%	–
SJM	Exit	JM SMUCKER ORD	$0	–	-27,200	–	-1.58%	–
MMM	Exit	3M ORD	$0	–	-18,100	–	-1.58%	–
LIN	Exit	LINDE ORD	$0	–	-16,900	–	-1.71%	–
PFE	Exit	PFIZER ORD	$0	–	-80,100	–	-1.75%	–
RDSB	Exit	ROYAL DUTCH SHELL ADR REP 2 CL B ORDadr	$0	–	-61,200	–	-2.02%	–
BHP	Exit	BHP GROUP ADRadr	$0	–	-69,700	–	-2.04%	–
ITW	Exit	ILLINOIS TOOL ORD	$0	–	-27,700	–	-2.10%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL ORD	$0	–	-53,800	–	-2.13%	–
VRSK	Exit	VERISK ANALYTICS ORD	$0	–	-28,900	–	-2.13%	–
ABBV	Exit	ABBVIE ORD	$0	–	-62,600	–	-2.29%	–
XOM	Exit	EXXON MOBIL ORD	$0	–	-60,312	–	-2.33%	–
IEMG	Exit	ISHARES:CORE MSCI EMMKTS	$0	–	-90,500	–	-2.34%	–
DE	Exit	DEERE ORD	$0	–	-28,700	–	-2.39%	–
MDT	Exit	MEDTRONIC ORD	$0	–	-50,922	–	-2.50%	–
CAT	Exit	CATERPILLAR ORD	$0	–	-36,600	–	-2.51%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES ORD	$0	–	-37,600	–	-2.61%	–
ABT	Exit	ABBOTT LABORATORIES ORD	$0	–	-62,600	–	-2.65%	–
AXP	Exit	AMERICAN EXPRESS ORD	$0	–	-45,700	–	-2.84%	–
LOW	Exit	LOWE'S COMPANIES ORD	$0	–	-58,400	–	-2.96%	–
INTC	Exit	INTEL ORD	$0	–	-131,100	–	-3.16%	–
PEP	Exit	PEPSICO ORD	$0	–	-52,900	–	-3.49%	–
CME	Exit	CME GROUP CL A ORD	$0	–	-35,900	–	-3.51%	–
PG	Exit	PROCTER & GAMBLE ORD	$0	–	-69,600	–	-3.84%	–
BRKA	Exit	BERKSHIRE HATHAWAY CL A ORD	$0	–	-25	–	-4.00%	–
UNP	Exit	UNION PACIFIC ORD	$0	–	-49,112	–	-4.18%	–
ORCL	Exit	ORACLE ORD	$0	–	-153,300	–	-4.40%	–
WMT	Exit	WALMART ORD	$0	–	-81,824	–	-4.55%	–
	Exit	VANGUARD TOT I S INS	$0	–	-80,500	–	-4.59%	–
V	Exit	VISA CL A ORD	$0	–	-54,800	–	-4.79%	–

Q2 2019

			Value		Shares		↓ Weighting
V	New	VISA CL A ORD	$9,511,000	–	54,800	–	4.79%	–
	New	VANGUARD TOT I S INS	$9,117,000	–	80,500	–	4.59%	–
WMT	New	WALMART ORD	$9,041,000	–	81,824	–	4.55%	–
ORCL	New	ORACLE ORD	$8,734,000	–	153,300	–	4.40%	–
UNP	New	UNION PACIFIC ORD	$8,305,000	–	49,112	–	4.18%	–
BRKA	New	BERKSHIRE HATHAWAY CL A ORD	$7,959,000	–	25	–	4.00%	–
PG	New	PROCTER & GAMBLE ORD	$7,632,000	–	69,600	–	3.84%	–
CME	New	CME GROUP CL A ORD	$6,969,000	–	35,900	–	3.51%	–
PEP	New	PEPSICO ORD	$6,937,000	–	52,900	–	3.49%	–
INTC	New	INTEL ORD	$6,276,000	–	131,100	–	3.16%	–
LOW	New	LOWE'S COMPANIES ORD	$5,893,000	–	58,400	–	2.96%	–
AXP	New	AMERICAN EXPRESS ORD	$5,641,000	–	45,700	–	2.84%	–
	New	VANGUARD TSM IDX INST	$5,457,000	–	74,700	–	2.75%	–
ABT	New	ABBOTT LABORATORIES ORD	$5,265,000	–	62,600	–	2.65%	–
IBM	New	INTERNATIONAL BUSINESS MACHINES ORD	$5,185,000	–	37,600	–	2.61%	–
CAT	New	CATERPILLAR ORD	$4,988,000	–	36,600	–	2.51%	–
MDT	New	MEDTRONIC ORD	$4,959,000	–	50,922	–	2.50%	–
DE	New	DEERE ORD	$4,756,000	–	28,700	–	2.39%	–
IEMG	New	ISHARES:CORE MSCI EMMKTS	$4,655,000	–	90,500	–	2.34%	–
XOM	New	EXXON MOBIL ORD	$4,622,000	–	60,312	–	2.33%	–
ABBV	New	ABBVIE ORD	$4,552,000	–	62,600	–	2.29%	–
VRSK	New	VERISK ANALYTICS ORD	$4,233,000	–	28,900	–	2.13%	–
PM	New	PHILIP MORRIS INTERNATIONAL ORD	$4,225,000	–	53,800	–	2.13%	–
ITW	New	ILLINOIS TOOL ORD	$4,177,000	–	27,700	–	2.10%	–
BHP	New	BHP GROUP ADRadr	$4,050,000	–	69,700	–	2.04%	–
RDSB	New	ROYAL DUTCH SHELL ADR REP 2 CL B ORDadr	$4,023,000	–	61,200	–	2.02%	–
PFE	New	PFIZER ORD	$3,470,000	–	80,100	–	1.75%	–
LIN	New	LINDE ORD	$3,394,000	–	16,900	–	1.71%	–
MMM	New	3M ORD	$3,137,000	–	18,100	–	1.58%	–
SJM	New	JM SMUCKER ORD	$3,133,000	–	27,200	–	1.58%	–
OAK	New	OAKTREE CAPITAL GROUP CL A UNT	$3,027,000	–	61,100	–	1.52%	–
SLB	New	SCHLUMBERGER ORD	$2,750,000	–	69,200	–	1.38%	–
ENB	New	ENBRIDGE ORD	$2,663,000	–	73,800	–	1.34%	–
TGT	New	TARGET ORD	$2,590,000	–	29,900	–	1.30%	–
NEE	New	NEXTERA ENERGY ORD	$2,520,000	–	12,300	–	1.27%	–
GILD	New	GILEAD SCIENCES ORD	$2,392,000	–	35,400	–	1.20%	–
DISCK	New	DISCOVERY SRS C ORD	$2,225,000	–	78,200	–	1.12%	–
APA	New	APACHE ORD	$2,011,000	–	69,400	–	1.01%	–
ECL	New	ECOLAB ORD	$1,908,000	–	9,666	–	0.96%	–
GE	New	GENERAL ELECTRIC ORD	$1,884,000	–	179,400	–	0.95%	–
BBT	New	BB AND T ORD	$1,685,000	–	34,300	–	0.85%	–
CLB	New	CORE LABORATORIES ORD	$1,129,000	–	21,600	–	0.57%	–
CI	New	CIGNA ORD	$1,015,000	–	6,445	–	0.51%	–
ATVI	New	ACTIVISION BLIZZARD ORD	$628,000	–	13,300	–	0.32%	–

Q4 2018

			Value		Shares		↓ Weighting
TEVA	Exit	TEVA PHARMACEUTICAL INDUSTRIES LTD	$0	–	-33,900	–	-0.34%	–
ECL	Exit	ECOLAB INC	$0	–	-10,366	–	-0.75%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-53,900	–	-0.76%	–
BBT	Exit	BB&T CORP	$0	–	-36,900	–	-0.83%	–
GE	Exit	GENERAL ELECTRIC COMPANY	$0	–	-192,900	–	-1.01%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-13,200	–	-1.02%	–
DISCK	Exit	DISCOVERY INC-C	$0	–	-84,100	–	-1.15%	–
ENB	Exit	ENBRIDGE INC.	$0	–	-79,400	–	-1.18%	–
CLB	Exit	CORE LABORATORIES N.V.	$0	–	-23,200	–	-1.24%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-28,482	–	-1.25%	–
OAK	Exit	OAKTREE CAPITAL GROUP LLC	$0	–	-65,700	–	-1.26%	–
TGT	Exit	TARGET CORP	$0	–	-32,100	–	-1.31%	–
PX	Exit	PRAXAIR INC	$0	–	-18,200	–	-1.35%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-38,100	–	-1.36%	–
SJM	Exit	JM SMUCKER CO	$0	–	-29,300	–	-1.39%	–
APA	Exit	APACHE CORP	$0	–	-74,600	–	-1.64%	–
BHP	Exit	BHP BILLITON LTD - SPON ADRadr	$0	–	-75,000	–	-1.73%	–
VRSK	Exit	VERISK ANALYTICS INC - CLASS A	$0	–	-31,100	–	-1.73%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-29,800	–	-1.94%	–
PFE	Exit	PFIZER INC	$0	–	-101,300	–	-2.06%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-74,400	–	-2.10%	–
DE	Exit	DEERE & CO	$0	–	-30,900	–	-2.15%	–
RDSB	Exit	ROYAL DUTCH SHELL PLC - ADR Badr	$0	–	-65,800	–	-2.16%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-57,900	–	-2.18%	–
MMM	Exit	3M COMPANY	$0	–	-22,900	–	-2.23%	–
ABT	Exit	ABBOTT LABS	$0	–	-67,300	–	-2.28%	–
IEMG	Exit	ISHARES CORE MSCI EMERGING	$0	–	-97,300	–	-2.33%	–
AXP	Exit	AMERICAN EXPRESS COMPANY	$0	–	-49,100	–	-2.42%	–
MDT	Exit	MEDTRONIC INC	$0	–	-54,722	–	-2.49%	–
XOM	Exit	EXXON MOBIL CORPORATION	$0	–	-64,812	–	-2.55%	–
	Exit	VANGUARD TOT STK MKT-INST	$0	–	-80,300	–	-2.70%	–
CAT	Exit	CATERPILLAR TRACTOR CO	$0	–	-39,400	–	-2.78%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-40,400	–	-2.82%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-74,800	–	-2.88%	–
PEP	Exit	PEPSICO INCORPORATED	$0	–	-56,900	–	-2.94%	–
ABBV	Exit	ABBVIE INC	$0	–	-67,300	–	-2.94%	–
CME	Exit	CME GROUP INC	$0	–	-38,600	–	-3.04%	–
INTC	Exit	INTEL CORP	$0	–	-141,000	–	-3.08%	–
WMT	Exit	WAL-MART STORES	$0	–	-88,024	–	-3.82%	–
ORCL	Exit	ORACLE CORP	$0	–	-164,800	–	-3.93%	–
UNP	Exit	UNION PACIFIC CORPORATION	$0	–	-52,812	–	-3.98%	–
BRKA	Exit	BERKSHIRE HATHAWAY	$0	–	-27	–	-3.99%	–
V	Exit	VISA INC/A	$0	–	-58,900	–	-4.09%	–
LOW	Exit	LOWE'S CORP	$0	–	-78,500	–	-4.17%	–
	Exit	VANGUARD TOT INT ST IDX-INST	$0	–	-86,600	–	-4.65%	–

Q3 2018

			Value		Shares		↓ Weighting
MDT	Sell	MEDTRONIC INC	$5,383,000	-13.8%	54,722	-25.0%	2.49%	-16.9%
RDSB	Sell	ROYAL DUTCH SHELL PLC - ADR Badr	$4,667,000	-21.9%	65,800	-20.0%	2.16%	-24.7%
TGT	Sell	TARGET CORP	$2,832,000	-13.1%	32,100	-25.0%	1.31%	-16.3%
ESRX	Sell	EXPRESS SCRIPTS HOLDING CO	$2,706,000	-17.7%	28,482	-33.1%	1.25%	-20.7%

Q2 2018

			Value		Shares		↓ Weighting
	New	VANGUARD TOT INT ST IDX-INST	$10,049,000	–	86,600	–	4.82%	–
V	New	VISA INC/A	$7,801,000	–	58,900	–	3.74%	–
BRKA	New	BERKSHIRE HATHAWAY	$7,615,000	–	27	–	3.66%	–
WMT	New	WAL-MART STORES	$7,539,000	–	88,024	–	3.62%	–
LOW	New	LOWE'S CORP	$7,502,000	–	78,500	–	3.60%	–
UNP	New	UNION PACIFIC CORPORATION	$7,482,000	–	52,812	–	3.59%	–
ORCL	New	ORACLE CORP	$7,261,000	–	164,800	–	3.48%	–
INTC	New	INTEL CORP	$7,009,000	–	141,000	–	3.36%	–
CME	New	CME GROUP INC	$6,327,000	–	38,600	–	3.04%	–
MDT	New	MEDTRONIC INC	$6,243,000	–	72,922	–	3.00%	–
ABBV	New	ABBVIE INC	$6,235,000	–	67,300	–	2.99%	–
PEP	New	PEPSICO INCORPORATED	$6,195,000	–	56,900	–	2.97%	–
RDSB	New	ROYAL DUTCH SHELL PLC - ADR Badr	$5,972,000	–	82,200	–	2.87%	–
PG	New	PROCTER & GAMBLE CO	$5,839,000	–	74,800	–	2.80%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$5,644,000	–	40,400	–	2.71%	–
	New	VANGUARD TOT STK MKT-INST	$5,489,000	–	80,300	–	2.63%	–
XOM	New	EXXON MOBIL CORPORATION	$5,362,000	–	64,812	–	2.57%	–
CAT	New	CATERPILLAR TRACTOR CO	$5,345,000	–	39,400	–	2.56%	–
IEMG	New	ISHARES CORE MSCI EMERGING	$5,109,000	–	97,300	–	2.45%	–
SLB	New	SCHLUMBERGER LTD	$4,987,000	–	74,400	–	2.39%	–
AXP	New	AMERICAN EXPRESS COMPANY	$4,812,000	–	49,100	–	2.31%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$4,675,000	–	57,900	–	2.24%	–
MMM	New	3M COMPANY	$4,505,000	–	22,900	–	2.16%	–
DE	New	DEERE & CO	$4,320,000	–	30,900	–	2.07%	–
ITW	New	ILLINOIS TOOL WORKS	$4,128,000	–	29,800	–	1.98%	–
ABT	New	ABBOTT LABS	$4,105,000	–	67,300	–	1.97%	–
BHP	New	BHP BILLITON LTD - SPON ADRadr	$3,751,000	–	75,000	–	1.80%	–
PFE	New	PFIZER INC	$3,675,000	–	101,300	–	1.76%	–
APA	New	APACHE CORP	$3,488,000	–	74,600	–	1.67%	–
VRSK	New	VERISK ANALYTICS INC - CLASS A	$3,348,000	–	31,100	–	1.61%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$3,288,000	–	42,582	–	1.58%	–
TGT	New	TARGET CORP	$3,258,000	–	42,800	–	1.56%	–
SJM	New	JM SMUCKER CO	$3,149,000	–	29,300	–	1.51%	–
CLB	New	CORE LABORATORIES N.V.	$2,928,000	–	23,200	–	1.40%	–
PX	New	PRAXAIR INC	$2,878,000	–	18,200	–	1.38%	–
ENB	New	ENBRIDGE INC.	$2,834,000	–	79,400	–	1.36%	–
GILD	New	GILEAD SCIENCES INC	$2,699,000	–	38,100	–	1.30%	–
OAK	New	OAKTREE CAPITAL GROUP LLC	$2,671,000	–	65,700	–	1.28%	–
GE	New	GENERAL ELECTRIC COMPANY	$2,625,000	–	192,900	–	1.26%	–
NEE	New	NEXTERA ENERGY INC	$2,205,000	–	13,200	–	1.06%	–
DISCK	New	DISCOVERY INC-C	$2,145,000	–	84,100	–	1.03%	–
BBT	New	BB&T CORP	$1,861,000	–	36,900	–	0.89%	–
BEN	New	FRANKLIN RESOURCES	$1,727,000	–	53,900	–	0.83%	–
ECL	New	ECOLAB INC	$1,455,000	–	10,366	–	0.70%	–
TEVA	New	TEVA PHARMACEUTICAL INDUSTRIES LTD	$824,000	–	33,900	–	0.40%	–

Q4 2017

			Value		Shares		↓ Weighting
TEVA	Exit	TEVA PHARMACEUTICAL INDUSTRIES LTD	$0	–	-38,100	–	-0.31%	–
ECL	Exit	ECOLAB INC	$0	–	-11,766	–	-0.70%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-11,600	–	-0.79%	–
BBT	Exit	BB&T CORP	$0	–	-41,500	–	-0.91%	–
CLB	Exit	CORE LABORATORIES N.V.	$0	–	-26,100	–	-1.20%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-60,700	–	-1.26%	–
TGT	Exit	TARGET CORP	$0	–	-48,100	–	-1.32%	–
PX	Exit	PRAXAIR INC	$0	–	-20,400	–	-1.33%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-47,882	–	-1.41%	–
VRSK	Exit	VERISK ANALYTICS INC - CLASS A	$0	–	-41,200	–	-1.60%	–
SJM	Exit	JM SMUCKER CO	$0	–	-33,000	–	-1.61%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-42,800	–	-1.62%	–
OAK	Exit	OAKTREE CAPITAL GROUP LLC	$0	–	-73,900	–	-1.62%	–
ENB	Exit	ENBRIDGE INC.	$0	–	-89,300	–	-1.74%	–
ABT	Exit	ABBOTT LABS	$0	–	-75,700	–	-1.88%	–
PFE	Exit	PFIZER INC	$0	–	-113,900	–	-1.89%	–
IEMG	Exit	ISHARES CORE MSCI EMERGING	$0	–	-75,600	–	-1.90%	–
BHP	Exit	BHP BILLITON LTD - SPON ADRadr	$0	–	-105,500	–	-1.99%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-33,600	–	-2.32%	–
AXP	Exit	AMERICAN EXPRESS COMPANY	$0	–	-55,300	–	-2.33%	–
GE	Exit	GENERAL ELECTRIC COMPANY	$0	–	-217,000	–	-2.44%	–
RDSB	Exit	ROYAL DUTCH SHELL PLC - ADR Badr	$0	–	-92,400	–	-2.69%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-83,700	–	-2.72%	–
XOM	Exit	EXXON MOBIL CORPORATION	$0	–	-72,912	–	-2.78%	–
MDT	Exit	MEDTRONIC INC	$0	–	-82,022	–	-2.97%	–
DE	Exit	DEERE & CO	$0	–	-51,600	–	-3.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-45,400	–	-3.07%	–
ABBV	Exit	ABBVIE INC	$0	–	-75,700	–	-3.13%	–
MMM	Exit	3M COMPANY	$0	–	-32,300	–	-3.16%	–
UNP	Exit	UNION PACIFIC CORPORATION	$0	–	-59,412	–	-3.21%	–
LOW	Exit	LOWE'S CORP	$0	–	-88,300	–	-3.29%	–
INTC	Exit	INTEL CORP	$0	–	-186,600	–	-3.31%	–
PEP	Exit	PEPSICO INCORPORATED	$0	–	-63,900	–	-3.32%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-65,100	–	-3.37%	–
CME	Exit	CME GROUP INC	$0	–	-54,100	–	-3.42%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-84,200	–	-3.57%	–
WMT	Exit	WAL-MART STORES	$0	–	-99,024	–	-3.60%	–
CAT	Exit	CATERPILLAR TRACTOR CO	$0	–	-67,800	–	-3.94%	–
V	Exit	VISA INC/A	$0	–	-81,000	–	-3.97%	–
ORCL	Exit	ORACLE CORP	$0	–	-185,400	–	-4.18%	–
BRKA	Exit	BERKSHIRE HATHAWAY	$0	–	-40	–	-5.12%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKA	Sell	BERKSHIRE HATHAWAY	$10,990,000	+2.7%	40	-4.8%	5.12%	+2.1%
ORCL	Sell	ORACLE CORP	$8,964,000	-8.4%	185,400	-5.0%	4.18%	-9.0%
V	Sell	VISA INC/A	$8,524,000	+6.6%	81,000	-5.0%	3.97%	+5.9%
CAT	Sell	CATERPILLAR TRACTOR CO	$8,455,000	+10.2%	67,800	-5.0%	3.94%	+9.5%
WMT	Sell	WAL-MART STORES	$7,738,000	-1.9%	99,024	-5.0%	3.60%	-2.5%
PG	Sell	PROCTER & GAMBLE CO	$7,661,000	-0.9%	84,200	-5.1%	3.57%	-1.5%
CME	Sell	CME GROUP INC	$7,340,000	+2.8%	54,100	-5.1%	3.42%	+2.2%
PM	Sell	PHILIP MORRIS INTERNATIONAL	$7,227,000	-10.3%	65,100	-5.1%	3.37%	-10.9%
PEP	Sell	PEPSICO INCORPORATED	$7,120,000	-8.4%	63,900	-5.1%	3.32%	-9.0%
INTC	Sell	INTEL CORP	$7,106,000	+7.2%	186,600	-5.0%	3.31%	+6.5%
LOW	Sell	LOWE'S CORP	$7,059,000	-2.1%	88,300	-5.1%	3.29%	-2.7%
UNP	Sell	UNION PACIFIC CORPORATION	$6,890,000	+1.0%	59,412	-5.1%	3.21%	+0.4%
MMM	Sell	3M COMPANY	$6,780,000	-4.2%	32,300	-5.0%	3.16%	-4.8%
ABBV	Sell	ABBVIE INC	$6,727,000	+16.4%	75,700	-5.0%	3.13%	+15.7%
IBM	Sell	INTERNATIONAL BUSINESS MACHINE	$6,587,000	-10.4%	45,400	-5.0%	3.07%	-11.0%
DE	Sell	DEERE & CO	$6,480,000	-3.4%	51,600	-5.0%	3.02%	-4.1%
MDT	Sell	MEDTRONIC INC	$6,379,000	-16.8%	82,022	-5.1%	2.97%	-17.4%
XOM	Sell	EXXON MOBIL CORPORATION	$5,977,000	-17.8%	72,912	-19.1%	2.78%	-18.4%
SLB	Sell	SCHLUMBERGER LTD	$5,839,000	+0.7%	83,700	-5.0%	2.72%	-0.0%
RDSB	Sell	ROYAL DUTCH SHELL PLC - ADR Badr	$5,779,000	+9.0%	92,400	-5.1%	2.69%	+8.3%
GE	Sell	GENERAL ELECTRIC COMPANY	$5,247,000	-15.0%	217,000	-5.0%	2.44%	-15.5%
AXP	Sell	AMERICAN EXPRESS COMPANY	$5,002,000	+2.0%	55,300	-5.0%	2.33%	+1.3%
ITW	Sell	ILLINOIS TOOL WORKS	$4,971,000	-2.0%	33,600	-5.1%	2.32%	-2.6%
BHP	Sell	BHP BILLITON LTD - SPON ADRadr	$4,276,000	+8.1%	105,500	-5.0%	1.99%	+7.4%
IEMG	Buy	ISHARES CORE MSCI EMERGING	$4,084,000	+97.1%	75,600	+82.6%	1.90%	+95.9%
PFE	Sell	PFIZER INC	$4,066,000	+1.0%	113,900	-5.0%	1.89%	+0.3%
ABT	Sell	ABBOTT LABS	$4,039,000	+4.3%	75,700	-5.0%	1.88%	+3.6%
ENB	Sell	ENBRIDGE INC.	$3,736,000	-0.2%	89,300	-5.0%	1.74%	-0.8%
OAK	New	OAKTREE CAPITAL GROUP LLC	$3,477,000	–	73,900	–	1.62%	–
GILD	Sell	GILEAD SCIENCES INC	$3,468,000	+8.6%	42,800	-5.1%	1.62%	+7.9%
SJM	Sell	JM SMUCKER CO	$3,463,000	-15.7%	33,000	-4.9%	1.61%	-16.2%
VRSK	Sell	VERISK ANALYTICS INC - CLASS A	$3,427,000	-6.4%	41,200	-5.1%	1.60%	-7.0%
ESRX	Sell	EXPRESS SCRIPTS HOLDING CO	$3,032,000	-5.7%	47,882	-5.0%	1.41%	-6.4%
PX	Sell	PRAXAIR INC	$2,851,000	+0.0%	20,400	-5.1%	1.33%	-0.6%
TGT	Sell	TARGET CORP	$2,838,000	+7.1%	48,100	-5.1%	1.32%	+6.4%
BEN	Sell	FRANKLIN RESOURCES	$2,702,000	-5.6%	60,700	-5.0%	1.26%	-6.3%
CLB	Sell	CORE LABORATORIES N.V.	$2,576,000	-7.5%	26,100	-5.1%	1.20%	-8.1%
BBT	Buy	BB&T CORP	$1,948,000	+31.6%	41,500	+27.3%	0.91%	+30.7%
NEE	New	NEXTERA ENERGY INC	$1,700,000	–	11,600	–	0.79%	–
ECL	Sell	ECOLAB INC	$1,513,000	-7.9%	11,766	-4.9%	0.70%	-8.4%
TEVA	Sell	TEVA PHARMACEUTICAL INDUSTRIES LTD	$671,000	-49.6%	38,100	-5.0%	0.31%	-49.8%
EEQ	Exit	ENBRIDGE ENERGY MANAGEMENT LLC	$0	–	-1	–	0.00%	–
SPWR	Exit	SUNPOWER CORP	$0	–	-142,700	–	-0.62%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKA	New	BERKSHIRE HATHAWAY	$10,697,000	–	42	–	5.02%	–
ORCL	New	ORACLE CORP	$9,787,000	–	195,200	–	4.59%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$8,057,000	–	68,600	–	3.78%	–
V	New	VISA INC/A	$7,999,000	–	85,300	–	3.75%	–
WMT	New	WAL-MART STORES	$7,888,000	–	104,224	–	3.70%	–
PEP	New	PEPSICO INCORPORATED	$7,772,000	–	67,300	–	3.64%	–
PG	New	PROCTER & GAMBLE CO	$7,730,000	–	88,700	–	3.62%	–
CAT	New	CATERPILLAR TRACTOR CO	$7,673,000	–	71,400	–	3.60%	–
MDT	New	MEDTRONIC INC	$7,670,000	–	86,422	–	3.60%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$7,353,000	–	47,800	–	3.45%	–
XOM	New	EXXON MOBIL CORPORATION	$7,275,000	–	90,112	–	3.41%	–
LOW	New	LOWE'S CORP	$7,210,000	–	93,000	–	3.38%	–
CME	New	CME GROUP INC	$7,139,000	–	57,000	–	3.35%	–
MMM	New	3M COMPANY	$7,078,000	–	34,000	–	3.32%	–
UNP	New	UNION PACIFIC CORPORATION	$6,819,000	–	62,612	–	3.20%	–
DE	New	DEERE & CO	$6,711,000	–	54,300	–	3.15%	–
INTC	New	INTEL CORP	$6,630,000	–	196,500	–	3.11%	–
GE	New	GENERAL ELECTRIC COMPANY	$6,172,000	–	228,500	–	2.89%	–
SLB	New	SCHLUMBERGER LTD	$5,801,000	–	88,100	–	2.72%	–
ABBV	New	ABBVIE INC	$5,779,000	–	79,700	–	2.71%	–
RDSB	New	ROYAL DUTCH SHELL PLC - ADR Badr	$5,301,000	–	97,400	–	2.48%	–
ITW	New	ILLINOIS TOOL WORKS	$5,071,000	–	35,400	–	2.38%	–
AXP	New	AMERICAN EXPRESS COMPANY	$4,903,000	–	58,200	–	2.30%	–
SJM	New	JM SMUCKER CO	$4,106,000	–	34,700	–	1.92%	–
PFE	New	PFIZER INC	$4,027,000	–	119,900	–	1.89%	–
BHP	New	BHP BILLITON LTD - SPON ADRadr	$3,954,000	–	111,100	–	1.85%	–
ABT	New	ABBOTT LABS	$3,874,000	–	79,700	–	1.82%	–
ENB	New	ENBRIDGE INC.	$3,742,000	–	94,000	–	1.75%	–
VRSK	New	VERISK ANALYTICS INC - CLASS A	$3,662,000	–	43,400	–	1.72%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$3,216,000	–	50,382	–	1.51%	–
GILD	New	GILEAD SCIENCES INC	$3,192,000	–	45,100	–	1.50%	–
BEN	New	FRANKLIN RESOURCES	$2,862,000	–	63,900	–	1.34%	–
PX	New	PRAXAIR INC	$2,850,000	–	21,500	–	1.34%	–
CLB	New	CORE LABORATORIES N.V.	$2,785,000	–	27,500	–	1.31%	–
TGT	New	TARGET CORP	$2,651,000	–	50,700	–	1.24%	–
IEMG	New	ISHARES CORE MSCI EMERGING	$2,072,000	–	41,400	–	0.97%	–
ECL	New	ECOLAB INC	$1,642,000	–	12,366	–	0.77%	–
BBT	New	BB&T CORP	$1,480,000	–	32,600	–	0.69%	–
SPWR	New	SUNPOWER CORP	$1,333,000	–	142,700	–	0.62%	–
TEVA	New	TEVA PHARMACEUTICAL INDUSTRIES LTD	$1,332,000	–	40,100	–	0.62%	–
EEQ	New	ENBRIDGE ENERGY MANAGEMENT LLC	$0	–	1	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
SPWR	Exit	SUNPOWER CORP	$0	–	-142,700	–	-0.58%	–
IEMG	Exit	ISHARES CORE MSCI EMERGING	$0	–	-31,200	–	-0.65%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDUSTRIES LTD	$0	–	-40,100	–	-0.84%	–
ECL	Exit	ECOLAB INC	$0	–	-16,466	–	-0.91%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-63,900	–	-1.04%	–
EEQ	Exit	ENBRIDGE ENERGY MANAGEMENT LLC	$0	–	-116,293	–	-1.35%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-38,000	–	-1.37%	–
CLB	Exit	CORE LABORATORIES N.V.	$0	–	-27,500	–	-1.41%	–
PX	Exit	PRAXAIR INC	$0	–	-26,900	–	-1.48%	–
ABT	Exit	ABBOTT LABS	$0	–	-79,700	–	-1.54%	–
TGT	Exit	TARGET CORP	$0	–	-50,700	–	-1.59%	–
VRSK	Exit	VERISK ANALYTICS INC - CLASS A	$0	–	-43,400	–	-1.61%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-50,382	–	-1.62%	–
AXP	Exit	AMERICAN EXPRESS COMPANY	$0	–	-58,200	–	-1.70%	–
BHP	Exit	BHP BILLITON LTD - SPON ADRadr	$0	–	-111,100	–	-1.76%	–
PFE	Exit	PFIZER INC	$0	–	-119,900	–	-1.85%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-75,900	–	-1.89%	–
ENB	Exit	ENBRIDGE INC.	$0	–	-94,000	–	-1.90%	–
DE	Exit	DEERE & CO	$0	–	-54,300	–	-2.11%	–
SJM	Exit	JM SMUCKER CO	$0	–	-34,700	–	-2.14%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-39,300	–	-2.15%	–
ABBV	Exit	ABBVIE INC	$0	–	-79,700	–	-2.29%	–
RDSB	Exit	ROYAL DUTCH SHELL PLC - ADR Badr	$0	–	-97,400	–	-2.35%	–
CME	Exit	CME GROUP INC	$0	–	-57,000	–	-2.72%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-68,600	–	-3.04%	–
LOW	Exit	LOWE'S CORP	$0	–	-93,000	–	-3.06%	–
GE	Exit	GENERAL ELECTRIC COMPANY	$0	–	-228,500	–	-3.09%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-88,100	–	-3.16%	–
MMM	Exit	3M COMPANY	$0	–	-40,000	–	-3.22%	–
V	Exit	VISA INC/A	$0	–	-85,300	–	-3.22%	–
INTC	Exit	INTEL CORP	$0	–	-196,500	–	-3.38%	–
MDT	Exit	MEDTRONIC INC	$0	–	-86,422	–	-3.40%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-47,800	–	-3.46%	–
CAT	Exit	CATERPILLAR TRACTOR CO	$0	–	-89,200	–	-3.61%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-88,700	–	-3.63%	–
PEP	Exit	PEPSICO INCORPORATED	$0	–	-74,800	–	-3.71%	–
XOM	Exit	EXXON MOBIL CORPORATION	$0	–	-100,112	–	-3.98%	–
UNP	Exit	UNION PACIFIC CORPORATION	$0	–	-92,112	–	-4.10%	–
WMT	Exit	WAL-MART STORES	$0	–	-130,324	–	-4.29%	–
ORCL	Exit	ORACLE CORP	$0	–	-244,000	–	-4.37%	–
BRKA	Exit	BERKSHIRE HATHAWAY	$0	–	-45	–	-4.44%	–

Q3 2016

			Value		Shares		↓ Weighting
UNP	Sell	UNION PACIFIC CORPORATION	$8,984,000	-16.2%	92,112	-25.0%	4.10%	-16.2%
SJM	Sell	JM SMUCKER CO	$4,703,000	-33.4%	34,700	-25.1%	2.14%	-33.4%
GILD	Buy	GILEAD SCIENCES INC	$3,007,000	+39.7%	38,000	+47.3%	1.37%	+39.6%
EEQ	Buy	ENBRIDGE ENERGY MANAGEMENT LLC	$2,958,000	+13.4%	116,293	+2.6%	1.35%	+13.4%
ECL	Sell	ECOLAB INC	$2,004,000	-12.8%	16,466	-15.0%	0.91%	-12.8%
IEMG	New	ISHARES CORE MSCI EMERGING	$1,423,000	–	31,200	–	0.65%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-38,900	–	-0.17%	–

Q2 2016

			Value		Shares		↓ Weighting
UNP	New	UNION PACIFIC CORPORATION	$10,715,000	–	122,812	–	4.89%	–
ORCL	New	ORACLE CORP	$9,987,000	–	244,000	–	4.56%	–
BRKA	New	BERKSHIRE HATHAWAY	$9,764,000	–	45	–	4.46%	–
WMT	New	WAL-MART STORES	$9,516,000	–	130,324	–	4.34%	–
XOM	New	EXXON MOBIL CORPORATION	$9,384,000	–	100,112	–	4.28%	–
PEP	New	PEPSICO INCORPORATED	$7,924,000	–	74,800	–	3.62%	–
PG	New	PROCTER & GAMBLE CO	$7,510,000	–	88,700	–	3.43%	–
MDT	New	MEDTRONIC INC	$7,499,000	–	86,422	–	3.42%	–
LOW	New	LOWE'S CORP	$7,363,000	–	93,000	–	3.36%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$7,255,000	–	47,800	–	3.31%	–
GE	New	GENERAL ELECTRIC COMPANY	$7,193,000	–	228,500	–	3.28%	–
SJM	New	JM SMUCKER CO	$7,057,000	–	46,300	–	3.22%	–
MMM	New	3M COMPANY	$7,005,000	–	40,000	–	3.20%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$6,978,000	–	68,600	–	3.18%	–
SLB	New	SCHLUMBERGER LTD	$6,967,000	–	88,100	–	3.18%	–
CAT	New	CATERPILLAR TRACTOR CO	$6,762,000	–	89,200	–	3.08%	–
INTC	New	INTEL CORP	$6,445,000	–	196,500	–	2.94%	–
V	New	VISA INC/A	$6,327,000	–	85,300	–	2.89%	–
CME	New	CME GROUP INC	$5,552,000	–	57,000	–	2.53%	–
RDSB	New	ROYAL DUTCH SHELL PLC - ADR Badr	$5,454,000	–	97,400	–	2.49%	–
ABBV	New	ABBVIE INC	$4,934,000	–	79,700	–	2.25%	–
DE	New	DEERE & CO	$4,400,000	–	54,300	–	2.01%	–
PFE	New	PFIZER INC	$4,222,000	–	119,900	–	1.93%	–
ITW	New	ILLINOIS TOOL WORKS	$4,093,000	–	39,300	–	1.87%	–
ENB	New	ENBRIDGE INC.	$3,982,000	–	94,000	–	1.82%	–
EMR	New	EMERSON ELECTRIC CO	$3,959,000	–	75,900	–	1.81%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$3,819,000	–	50,382	–	1.74%	–
TGT	New	TARGET CORP	$3,540,000	–	50,700	–	1.62%	–
AXP	New	AMERICAN EXPRESS COMPANY	$3,536,000	–	58,200	–	1.61%	–
VRSK	New	VERISK ANALYTICS INC - CLASS A	$3,519,000	–	43,400	–	1.60%	–
CLB	New	CORE LABORATORIES N.V.	$3,407,000	–	27,500	–	1.55%	–
BHP	New	BHP BILLITON LTD - SPON ADRadr	$3,173,000	–	111,100	–	1.45%	–
ABT	New	ABBOTT LABS	$3,133,000	–	79,700	–	1.43%	–
PX	New	PRAXAIR INC	$3,023,000	–	26,900	–	1.38%	–
EEQ	New	ENBRIDGE ENERGY MANAGEMENT LLC	$2,609,000	–	113,398	–	1.19%	–
ECL	New	ECOLAB INC	$2,297,000	–	19,366	–	1.05%	–
SPWR	New	SUNPOWER CORP	$2,210,000	–	142,700	–	1.01%	–
GILD	New	GILEAD SCIENCES INC	$2,152,000	–	25,800	–	0.98%	–
BEN	New	FRANKLIN RESOURCES	$2,132,000	–	63,900	–	0.97%	–
TEVA	New	TEVA PHARMACEUTICAL INDUSTRIES LTD	$2,014,000	–	40,100	–	0.92%	–
ESV	New	ENSCO PLC-CL A	$378,000	–	38,900	–	0.17%	–

Q4 2015

			Value		Shares		↓ Weighting
SOUHY	Exit	SOUTH32 - ADRadr	$0	–	-36,320	–	-0.08%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-38,900	–	-0.27%	–
SPWR	Exit	SUNPOWER CORP	$0	–	-30,000	–	-0.30%	–
BP	Exit	BP P.L.C.	$0	–	-64,082	–	-0.97%	–
ITC	Exit	ITC HOLDINGS CORP	$0	–	-62,100	–	-1.02%	–
ECL	Exit	ECOLAB INC	$0	–	-19,366	–	-1.05%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDUSTRIES LTD	$0	–	-40,100	–	-1.12%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-63,900	–	-1.18%	–
EEQ	Exit	ENBRIDGE ENERGY MANAGEMENT LLC	$0	–	-104,294	–	-1.22%	–
PX	Exit	PRAXAIR INC	$0	–	-26,900	–	-1.35%	–
BHP	Exit	BHP BILLITON LTD - SPON ADRadr	$0	–	-90,800	–	-1.42%	–
ABT	Exit	ABBOTT LABS	$0	–	-79,700	–	-1.58%	–
VRSK	Exit	VERISK ANALYTICS INC - CLASS A	$0	–	-43,400	–	-1.58%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-75,900	–	-1.66%	–
ENB	Exit	ENBRIDGE INC.	$0	–	-94,000	–	-1.72%	–
MRK	Exit	MERCK & CO.	$0	–	-72,100	–	-1.76%	–
PFE	Exit	PFIZER INC	$0	–	-119,900	–	-1.86%	–
TGT	Exit	TARGET CORP	$0	–	-50,700	–	-1.97%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-50,382	–	-2.02%	–
AXP	Exit	AMERICAN EXPRESS COMPANY	$0	–	-58,200	–	-2.13%	–
ABBV	Exit	ABBVIE INC	$0	–	-79,700	–	-2.14%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-56,100	–	-2.28%	–
RDSB	Exit	ROYAL DUTCH SHELL PLC - ADR Badr	$0	–	-97,400	–	-2.28%	–
SJM	Exit	JM SMUCKER CO	$0	–	-46,300	–	-2.61%	–
CME	Exit	CME GROUP INC	$0	–	-57,000	–	-2.61%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-68,600	–	-2.69%	–
GE	Exit	GENERAL ELECTRIC COMPANY	$0	–	-228,500	–	-2.85%	–
MDT	Exit	MEDTRONIC INC	$0	–	-86,422	–	-2.86%	–
CAT	Exit	CATERPILLAR TRACTOR CO	$0	–	-89,200	–	-2.88%	–
INTC	Exit	INTEL CORP	$0	–	-196,500	–	-2.93%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-88,100	–	-3.00%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-88,700	–	-3.15%	–
LOW	Exit	LOWE'S CORP	$0	–	-93,000	–	-3.17%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-47,800	–	-3.42%	–
MMM	Exit	3M COMPANY	$0	–	-50,000	–	-3.50%	–
XOM	Exit	EXXON MOBIL CORPORATION	$0	–	-100,112	–	-3.68%	–
V	Exit	VISA INC/A	$0	–	-108,400	–	-3.73%	–
WMT	Exit	WAL-MART STORES	$0	–	-130,324	–	-4.18%	–
ORCL	Exit	ORACLE CORP	$0	–	-244,000	–	-4.36%	–
BRKA	Exit	BERKSHIRE HATHAWAY	$0	–	-52	–	-5.02%	–
PEP	Exit	PEPSICO INCORPORATED	$0	–	-107,700	–	-5.02%	–
UNP	Exit	UNION PACIFIC CORPORATION	$0	–	-122,812	–	-5.36%	–

Q3 2015

			Value		Shares		↓ Weighting
EEQ	Buy	ENBRIDGE ENERGY MANAGEMENT LLC	$2,480,000	-26.6%	104,294	+1.9%	1.22%	-19.3%
SPWR	New	SUNPOWER CORP	$601,000	–	30,000	–	0.30%	–
AVP	Exit	AVON PRODUCTS	$0	–	-107,700	–	-0.30%	–

Q2 2015

			Value		Shares		↓ Weighting
UNP	New	UNION PACIFIC CORPORATION	$11,713,000	–	122,812	–	5.26%	–
BRKA	New	BERKSHIRE HATHAWAY	$10,652,000	–	52	–	4.79%	–
PEP	New	PEPSICO INCORPORATED	$10,053,000	–	107,700	–	4.52%	–
ORCL	New	ORACLE CORP	$9,833,000	–	244,000	–	4.42%	–
WMT	New	WAL-MART STORES	$9,244,000	–	130,324	–	4.15%	–
XOM	New	EXXON MOBIL CORPORATION	$8,329,000	–	100,112	–	3.74%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$7,775,000	–	47,800	–	3.49%	–
MMM	New	3M COMPANY	$7,715,000	–	50,000	–	3.47%	–
SLB	New	SCHLUMBERGER LTD	$7,593,000	–	88,100	–	3.41%	–
CAT	New	CATERPILLAR TRACTOR CO	$7,566,000	–	89,200	–	3.40%	–
V	New	VISA INC/A	$7,279,000	–	108,400	–	3.27%	–
PG	New	PROCTER & GAMBLE CO	$6,940,000	–	88,700	–	3.12%	–
MDT	New	MEDTRONIC INC	$6,404,000	–	86,422	–	2.88%	–
LOW	New	LOWE'S CORP	$6,228,000	–	93,000	–	2.80%	–
GE	New	GENERAL ELECTRIC COMPANY	$6,071,000	–	228,500	–	2.73%	–
INTC	New	INTEL CORP	$5,977,000	–	196,500	–	2.69%	–
RDSB	New	ROYAL DUTCH SHELL PLC - ADR Badr	$5,586,000	–	97,400	–	2.51%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$5,500,000	–	68,600	–	2.47%	–
ABBV	New	ABBVIE INC	$5,355,000	–	79,700	–	2.41%	–
CME	New	CME GROUP INC	$5,304,000	–	57,000	–	2.38%	–
ITW	New	ILLINOIS TOOL WORKS	$5,149,000	–	56,100	–	2.31%	–
SJM	New	JM SMUCKER CO	$5,019,000	–	46,300	–	2.26%	–
AXP	New	AMERICAN EXPRESS COMPANY	$4,523,000	–	58,200	–	2.03%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$4,481,000	–	50,382	–	2.01%	–
ENB	New	ENBRIDGE INC.	$4,398,000	–	94,000	–	1.98%	–
EMR	New	EMERSON ELECTRIC CO	$4,207,000	–	75,900	–	1.89%	–
TGT	New	TARGET CORP	$4,139,000	–	50,700	–	1.86%	–
MRK	New	MERCK & CO.	$4,105,000	–	72,100	–	1.84%	–
PFE	New	PFIZER INC	$4,020,000	–	119,900	–	1.81%	–
ABT	New	ABBOTT LABS	$3,912,000	–	79,700	–	1.76%	–
BHP	New	BHP BILLITON LTD - SPON ADRadr	$3,696,000	–	90,800	–	1.66%	–
EEQ	New	ENBRIDGE ENERGY MANAGEMENT LLC	$3,378,000	–	102,349	–	1.52%	–
PX	New	PRAXAIR INC	$3,216,000	–	26,900	–	1.44%	–
VRSK	New	VERISK ANALYTICS INC - CLASS A	$3,158,000	–	43,400	–	1.42%	–
BEN	New	FRANKLIN RESOURCES	$3,133,000	–	63,900	–	1.41%	–
BP	New	BP P.L.C.	$2,561,000	–	64,082	–	1.15%	–
TEVA	New	TEVA PHARMACEUTICAL INDUSTRIES LTD	$2,370,000	–	40,100	–	1.06%	–
ECL	New	ECOLAB INC	$2,190,000	–	19,366	–	0.98%	–
ITC	New	ITC HOLDINGS CORP	$1,998,000	–	62,100	–	0.90%	–
ESV	New	ENSCO PLC-CL A	$866,000	–	38,900	–	0.39%	–
AVP	New	AVON PRODUCTS	$674,000	–	107,700	–	0.30%	–
SOUHY	New	SOUTH32 - ADRadr	$244,000	–	36,320	–	0.11%	–

Q4 2014

			Value		Shares		↓ Weighting
AVP	Exit	AVON PRODUCTS	$0	–	-107,700	–	-0.55%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-38,900	–	-0.66%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDUSTRIES LTD	$0	–	-40,100	–	-0.88%	–
ITC	Exit	ITC HOLDINGS CORP	$0	–	-62,100	–	-0.90%	–
ECL	Exit	ECOLAB INC	$0	–	-19,366	–	-0.91%	–
VRSK	Exit	VERISK ANALYTICS INC - CLASS A	$0	–	-43,400	–	-1.08%	–
BP	Exit	BP P.L.C.	$0	–	-64,082	–	-1.15%	–
TGT	Exit	TARGET CORP	$0	–	-50,700	–	-1.30%	–
ABT	Exit	ABBOTT LABS	$0	–	-79,700	–	-1.35%	–
PX	Exit	PRAXAIR INC	$0	–	-26,900	–	-1.42%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-63,900	–	-1.42%	–
PFE	Exit	PFIZER INC	$0	–	-119,900	–	-1.45%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-50,382	–	-1.45%	–
EEQ	Exit	ENBRIDGE ENERGY MANAGEMENT LLC	$0	–	-97,779	–	-1.48%	–
MRK	Exit	MERCK & CO.	$0	–	-72,100	–	-1.74%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-170,800	–	-1.76%	–
ENB	Exit	ENBRIDGE INC.	$0	–	-94,000	–	-1.84%	–
CME	Exit	CME GROUP INC	$0	–	-57,000	–	-1.86%	–
SJM	Exit	JM SMUCKER CO	$0	–	-46,300	–	-1.87%	–
ABBV	Exit	ABBVIE INC	$0	–	-79,700	–	-1.88%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-75,900	–	-1.94%	–
MJN	Exit	MEAD JOHNSON NUTRITION CO	$0	–	-52,400	–	-2.06%	–
BHP	Exit	BHP BILLITON LTD - SPON ADRadr	$0	–	-90,800	–	-2.18%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-66,000	–	-2.28%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-68,600	–	-2.34%	–
V	Exit	VISA INC/A	$0	–	-27,100	–	-2.36%	–
GE	Exit	GENERAL ELECTRIC COMPANY	$0	–	-228,500	–	-2.39%	–
AXP	Exit	AMERICAN EXPRESS COMPANY	$0	–	-68,400	–	-2.44%	–
LOW	Exit	LOWE'S CORP	$0	–	-124,000	–	-2.68%	–
MMM	Exit	3M COMPANY	$0	–	-50,000	–	-2.89%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-88,700	–	-3.03%	–
RDSB	Exit	ROYAL DUTCH SHELL PLC - ADR Badr	$0	–	-97,400	–	-3.15%	–
F113PS	Exit	COVIDIEN LTD	$0	–	-90,400	–	-3.19%	–
INTC	Exit	INTEL CORP	$0	–	-245,600	–	-3.49%	–
CAT	Exit	CATERPILLAR TRACTOR CO	$0	–	-89,200	–	-3.61%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-88,100	–	-3.66%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-47,800	–	-3.70%	–
ORCL	Exit	ORACLE CORP	$0	–	-244,000	–	-3.81%	–
XOM	Exit	EXXON MOBIL CORPORATION	$0	–	-100,112	–	-3.84%	–
WMT	Exit	WAL-MART STORES	$0	–	-130,324	–	-4.07%	–
PEP	Exit	PEPSICO INCORPORATED	$0	–	-107,700	–	-4.09%	–
BRKA	Exit	BERKSHIRE HATHAWAY	$0	–	-52	–	-4.39%	–
UNP	Exit	UNION PACIFIC CORPORATION	$0	–	-122,812	–	-5.44%	–

Q3 2014

			Value		Shares		↓ Weighting
RDSB	New	ROYAL DUTCH SHELL PLC - ADR Badr	$7,706,000	–	97,400	–	3.15%	–
EEQ	Buy	ENBRIDGE ENERGY MANAGEMENT LLC	$3,638,000	+8.1%	97,779	+1.6%	1.48%	+9.0%
MNKKQ	Exit	MALLINCKRODT PLC	$0	–	-11,300	–	-0.36%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC - ADR Aadr	$0	–	-92,000	–	-3.06%	–

Q2 2014

			Value		Shares		↓ Weighting
UNP	New	UNION PACIFIC CORPORATION	$12,237,000	–	122,812	–	4.96%	–
SLB	New	SCHLUMBERGER LTD	$10,378,000	–	88,100	–	4.20%	–
XOM	New	EXXON MOBIL CORPORATION	$10,132,000	–	100,112	–	4.10%	–
BRKA	New	BERKSHIRE HATHAWAY	$9,909,000	–	52	–	4.01%	–
ORCL	New	ORACLE CORP	$9,889,000	–	244,000	–	4.00%	–
WMT	New	WAL-MART STORES	$9,819,000	–	130,324	–	3.98%	–
CAT	New	CATERPILLAR TRACTOR CO	$9,703,000	–	89,200	–	3.93%	–
PEP	New	PEPSICO INCORPORATED	$9,559,000	–	107,700	–	3.87%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$8,686,000	–	47,800	–	3.52%	–
F113PS	New	COVIDIEN LTD	$8,175,000	–	90,400	–	3.31%	–
INTC	New	INTEL CORP	$7,596,000	–	245,600	–	3.08%	–
RDSA	New	ROYAL DUTCH SHELL PLC - ADR Aadr	$7,565,000	–	92,000	–	3.06%	–
MMM	New	3M COMPANY	$7,185,000	–	50,000	–	2.91%	–
PG	New	PROCTER & GAMBLE CO	$7,009,000	–	88,700	–	2.84%	–
AXP	New	AMERICAN EXPRESS COMPANY	$6,493,000	–	68,400	–	2.63%	–
BHP	New	BHP BILLITON LTD - SPON ADRadr	$6,255,000	–	90,800	–	2.53%	–
GE	New	GENERAL ELECTRIC COMPANY	$6,039,000	–	228,500	–	2.45%	–
LOW	New	LOWE'S CORP	$5,880,000	–	124,000	–	2.38%	–
ITW	New	ILLINOIS TOOL WORKS	$5,844,000	–	66,000	–	2.37%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$5,821,000	–	68,600	–	2.36%	–
V	New	VISA INC/A	$5,671,000	–	27,100	–	2.30%	–
EMR	New	EMERSON ELECTRIC CO	$5,079,000	–	75,900	–	2.06%	–
SJM	New	JM SMUCKER CO	$4,910,000	–	46,300	–	1.99%	–
MJN	New	MEAD JOHNSON NUTRITION CO	$4,856,000	–	52,400	–	1.97%	–
ABBV	New	ABBVIE INC	$4,526,000	–	79,700	–	1.83%	–
ENB	New	ENBRIDGE INC.	$4,459,000	–	94,000	–	1.81%	–
CSCO	New	CISCO SYSTEMS INC	$4,219,000	–	170,800	–	1.71%	–
MRK	New	MERCK & CO.	$4,148,000	–	72,100	–	1.68%	–
CME	New	CME GROUP INC	$4,014,000	–	57,000	–	1.63%	–
BEN	New	FRANKLIN RESOURCES	$3,681,000	–	63,900	–	1.49%	–
PFE	New	PFIZER INC	$3,557,000	–	119,900	–	1.44%	–
PX	New	PRAXAIR INC	$3,548,000	–	26,900	–	1.44%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$3,507,000	–	50,382	–	1.42%	–
BP	New	BP P.L.C.	$3,371,000	–	64,082	–	1.36%	–
EEQ	New	ENBRIDGE ENERGY MANAGEMENT LLC	$3,366,000	–	96,232	–	1.36%	–
ABT	New	ABBOTT LABS	$3,231,000	–	79,700	–	1.31%	–
TGT	New	TARGET CORP	$2,947,000	–	50,700	–	1.19%	–
VRSK	New	VERISK ANALYTICS INC - CLASS A	$2,590,000	–	43,400	–	1.05%	–
ITC	New	ITC HOLDINGS CORP	$2,252,000	–	62,100	–	0.91%	–
ESV	New	ENSCO PLC-CL A	$2,153,000	–	38,900	–	0.87%	–
TEVA	New	TEVA PHARMACEUTICAL INDUSTRIES LTD	$2,118,000	–	40,100	–	0.86%	–
ECL	New	ECOLAB INC	$2,104,000	–	19,366	–	0.85%	–
AVP	New	AVON PRODUCTS	$1,563,000	–	107,700	–	0.63%	–
MNKKQ	New	MALLINCKRODT PLC	$883,000	–	11,300	–	0.36%	–

Q4 2013

			Value		Shares		↓ Weighting
TEVA	Exit	TEVA PHARMACEUTICAL INDUSTRIES LTD	$0	–	-40,100	–	-0.64%	–
ECL	Exit	ECOLAB INC	$0	–	-19,366	–	-0.81%	–
ITC	Exit	ITC HOLDINGS CORP	$0	–	-20,700	–	-0.82%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-38,900	–	-0.88%	–
HSP	Exit	HOSPIRA INC	$0	–	-53,900	–	-0.89%	–
AVP	Exit	AVON PRODUCTS	$0	–	-107,700	–	-0.94%	–
EEQ	Exit	ENBRIDGE ENERGY MANAGEMENT LLC	$0	–	-90,974	–	-1.11%	–
ABT	Exit	ABBOTT LABS	$0	–	-79,700	–	-1.12%	–
BP	Exit	BP P.L.C.	$0	–	-64,082	–	-1.14%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-44,400	–	-1.17%	–
VRSK	Exit	VERISK ANALYTICS INC - CLASS A	$0	–	-43,400	–	-1.19%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-50,382	–	-1.32%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-63,900	–	-1.37%	–
PX	Exit	PRAXAIR INC	$0	–	-26,900	–	-1.37%	–
TGT	Exit	TARGET CORP	$0	–	-50,700	–	-1.37%	–
HSBC	Exit	HSBC HOLDINGS PLC-SPONS ADRadr	$0	–	-60,500	–	-1.39%	–
MRK	Exit	MERCK & CO.	$0	–	-72,100	–	-1.45%	–
PFE	Exit	PFIZER INC	$0	–	-119,900	–	-1.46%	–
ABBV	Exit	ABBVIE INC	$0	–	-79,700	–	-1.51%	–
ENB	Exit	ENBRIDGE INC.	$0	–	-94,000	–	-1.66%	–
YUM	Exit	YUM BRANDS INC	$0	–	-55,600	–	-1.68%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-170,800	–	-1.69%	–
CME	Exit	CME GROUP INC	$0	–	-57,000	–	-1.78%	–
MJN	Exit	MEAD JOHNSON NUTRITION CO	$0	–	-61,600	–	-1.94%	–
SJM	Exit	JM SMUCKER CO	$0	–	-46,300	–	-2.06%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-75,900	–	-2.08%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-66,000	–	-2.13%	–
GE	Exit	GENERAL ELECTRIC COMPANY	$0	–	-228,500	–	-2.31%	–
F113PS	Exit	COVIDIEN LTD	$0	–	-90,400	–	-2.33%	–
INTC	Exit	INTEL CORP	$0	–	-245,600	–	-2.38%	–
LOW	Exit	LOWE'S CORP	$0	–	-124,000	–	-2.50%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-68,600	–	-2.51%	–
MMM	Exit	3M COMPANY	$0	–	-50,000	–	-2.53%	–
BHP	Exit	BHP BILLITON LTD - SPON ADRadr	$0	–	-90,800	–	-2.55%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC - ADR Aadr	$0	–	-92,000	–	-2.56%	–
V	Exit	VISA INC/A	$0	–	-31,900	–	-2.58%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-88,700	–	-2.84%	–
AXP	Exit	AMERICAN EXPRESS COMPANY	$0	–	-94,700	–	-3.03%	–
CAT	Exit	CATERPILLAR TRACTOR CO	$0	–	-89,200	–	-3.15%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-88,100	–	-3.29%	–
ORCL	Exit	ORACLE CORP	$0	–	-244,000	–	-3.42%	–
PEP	Exit	PEPSICO INCORPORATED	$0	–	-107,700	–	-3.62%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-47,800	–	-3.74%	–
BRKA	Exit	BERKSHIRE HATHAWAY	$0	–	-52	–	-3.75%	–
WMT	Exit	WAL-MART STORES	$0	–	-130,324	–	-4.08%	–
XOM	Exit	EXXON MOBIL CORPORATION	$0	–	-117,812	–	-4.29%	–
UNP	Exit	UNION PACIFIC CORPORATION	$0	–	-84,906	–	-5.58%	–

Q3 2013

			Value		Shares		↓ Weighting
BEN	Buy	FRANKLIN RESOURCES	$3,230,000	+11.5%	63,900	+200.0%	1.37%	+8.8%
EEQ	Buy	ENBRIDGE ENERGY MANAGEMENT LLC	$2,618,000	-3.3%	90,974	+1.7%	1.11%	-5.5%

Q2 2013

			Value		Shares		↓ Weighting
UNP	New	UNION PACIFIC CORPORATION	$13,099,000	–	84,906	–	5.68%	–
XOM	New	EXXON MOBIL CORPORATION	$10,644,000	–	117,812	–	4.61%	–
WMT	New	WAL-MART STORES	$9,708,000	–	130,324	–	4.21%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$9,135,000	–	47,800	–	3.96%	–
PEP	New	PEPSICO INCORPORATED	$8,809,000	–	107,700	–	3.82%	–
BRKA	New	BERKSHIRE HATHAWAY	$8,767,000	–	52	–	3.80%	–
ORCL	New	ORACLE CORP	$7,493,000	–	244,000	–	3.25%	–
CAT	New	CATERPILLAR TRACTOR CO	$7,358,000	–	89,200	–	3.19%	–
AXP	New	AMERICAN EXPRESS COMPANY	$7,080,000	–	94,700	–	3.07%	–
PG	New	PROCTER & GAMBLE CO	$6,829,000	–	88,700	–	2.96%	–
SLB	New	SCHLUMBERGER LTD	$6,313,000	–	88,100	–	2.74%	–
INTC	New	INTEL CORP	$5,951,000	–	245,600	–	2.58%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$5,942,000	–	68,600	–	2.57%	–
RDSA	New	ROYAL DUTCH SHELL PLC - ADR Aadr	$5,870,000	–	92,000	–	2.54%	–
V	New	VISA INC/A	$5,830,000	–	31,900	–	2.53%	–
F113PS	New	COVIDIEN LTD	$5,681,000	–	90,400	–	2.46%	–
MMM	New	3M COMPANY	$5,468,000	–	50,000	–	2.37%	–
GE	New	GENERAL ELECTRIC COMPANY	$5,299,000	–	228,500	–	2.30%	–
BHP	New	BHP BILLITON LTD - SPON ADRadr	$5,236,000	–	90,800	–	2.27%	–
LOW	New	LOWE'S CORP	$5,072,000	–	124,000	–	2.20%	–
MJN	New	MEAD JOHNSON NUTRITION CO	$4,881,000	–	61,600	–	2.11%	–
SJM	New	JM SMUCKER CO	$4,776,000	–	46,300	–	2.07%	–
ITW	New	ILLINOIS TOOL WORKS	$4,565,000	–	66,000	–	1.98%	–
CME	New	CME GROUP INC	$4,329,000	–	57,000	–	1.88%	–
CSCO	New	CISCO SYSTEMS INC	$4,156,000	–	170,800	–	1.80%	–
EMR	New	EMERSON ELECTRIC CO	$4,140,000	–	75,900	–	1.79%	–
ENB	New	ENBRIDGE INC.	$3,955,000	–	94,000	–	1.71%	–
YUM	New	YUM BRANDS INC	$3,855,000	–	55,600	–	1.67%	–
TGT	New	TARGET CORP	$3,491,000	–	50,700	–	1.51%	–
PFE	New	PFIZER INC	$3,358,000	–	119,900	–	1.46%	–
MRK	New	MERCK & CO.	$3,349,000	–	72,100	–	1.45%	–
ABBV	New	ABBVIE INC	$3,295,000	–	79,700	–	1.43%	–
HSBC	New	HSBC HOLDINGS PLC-SPONS ADRadr	$3,140,000	–	60,500	–	1.36%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$3,111,000	–	50,382	–	1.35%	–
PX	New	PRAXAIR INC	$3,098,000	–	26,900	–	1.34%	–
BEN	New	FRANKLIN RESOURCES	$2,897,000	–	21,300	–	1.26%	–
ABT	New	ABBOTT LABS	$2,780,000	–	79,700	–	1.20%	–
EEQ	New	ENBRIDGE ENERGY MANAGEMENT LLC	$2,708,000	–	89,448	–	1.17%	–
BP	New	BP P.L.C.adr	$2,675,000	–	64,082	–	1.16%	–
VRSK	New	VERISK ANALYTICS INC - CLASS A	$2,591,000	–	43,400	–	1.12%	–
FLS	New	FLOWSERVE CORP	$2,398,000	–	44,400	–	1.04%	–
AVP	New	AVON PRODUCTS	$2,265,000	–	107,700	–	0.98%	–
ESV	New	ENSCO PLC-CL A	$2,261,000	–	38,900	–	0.98%	–
HSP	New	HOSPIRA INC	$2,065,000	–	53,900	–	0.90%	–
ITC	New	ITC HOLDINGS CORP	$1,890,000	–	20,700	–	0.82%	–
ECL	New	ECOLAB INC	$1,650,000	–	19,366	–	0.72%	–
TEVA	New	TEVA PHARMACEUTICAL INDUSTRIES LTDadr	$1,572,000	–	40,100	–	0.68%	–

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Export Shelter Ins Retirement Plan's holdings