Hemenway Trust Co LLC Activity Q4 2010-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE	$46,448,231	-12.3%	271,294	-0.7%	4.87%	-6.3%
MSFT	Buy	MICROSOFT	$42,464,323	-6.3%	134,487	+1.1%	4.45%	+0.1%
GOOGL	Buy	ALPHABET INC CL A	$42,051,076	+10.0%	321,344	+0.6%	4.41%	+17.5%
ADP	Buy	AUTOMATIC DATA PROCESSING	$39,462,720	+10.1%	164,032	+0.6%	4.14%	+17.6%
MA	Buy	MASTERCARD	$38,709,293	+2.4%	97,773	+1.7%	4.06%	+9.4%
DHR	Buy	DANAHER CORP	$34,538,011	+6.3%	139,210	+2.9%	3.62%	+13.7%
ADI	Buy	ANALOG DEVICES	$34,220,566	-9.9%	195,446	+0.2%	3.59%	-3.8%
CNI	Sell	CANADIAN NATL RAILWAY	$31,836,984	-10.6%	293,889	-0.1%	3.34%	-4.5%
FISV	Buy	FISERV	$31,320,272	-9.2%	277,269	+1.4%	3.28%	-3.0%
JNJ	Buy	JOHNSON & JOHNSON	$30,911,271	-3.8%	198,467	+2.3%	3.24%	+2.9%
ABT	Buy	ABBOTT LABS	$30,692,465	-9.4%	316,907	+2.0%	3.22%	-3.1%
PG	Buy	PROCTER & GAMBLE	$30,374,998	-3.1%	208,248	+0.8%	3.18%	+3.5%
ROK	Sell	ROCKWELL AUTOMATION	$29,668,652	-13.4%	103,784	-0.2%	3.11%	-7.5%
AMD	Buy	ADVANCED MICRO DEVICES	$29,175,557	-9.1%	283,754	+0.7%	3.06%	-2.9%
HD	Buy	HOME DEPOT	$28,670,639	-0.2%	94,886	+2.6%	3.01%	+6.7%
AMZN	Buy	AMAZON.COM	$27,949,239	+1.3%	219,865	+3.9%	2.93%	+8.3%
NSRGY	Buy	NESTLE SA ADR	$27,661,577	-4.3%	244,425	+1.7%	2.90%	+2.2%
ATR	Buy	APTARGROUP	$27,611,912	+9.2%	220,825	+1.2%	2.90%	+16.7%
TJX	Buy	TJX COS	$27,348,971	+5.8%	307,707	+0.9%	2.87%	+13.0%
NVDA	Sell	NVIDIA CORP	$25,957,233	-1.4%	59,673	-4.1%	2.72%	+5.3%
UNH	Buy	UNITED HEALTH GROUP	$23,523,609	+9.6%	46,656	+4.5%	2.47%	+17.1%
CVX	Buy	CHEVRON	$21,817,382	+10.1%	129,388	+2.7%	2.29%	+17.6%
NVS	Buy	NOVARTIS AG ADR	$19,558,354	+1.0%	192,012	+0.1%	2.05%	+8.0%
RTX	Buy	RTX CORPORATION	$17,725,004	-26.4%	246,283	+0.2%	1.86%	-21.3%
XYL	Buy	XYLEM INC	$17,623,304	-18.4%	193,599	+1.0%	1.85%	-12.7%
BDX	Buy	BECTON DICKINSON	$15,895,232	+1.0%	61,483	+3.1%	1.67%	+7.8%
NKE	Buy	NIKE INC CLASS B	$14,371,862	-12.2%	150,302	+1.3%	1.51%	-6.2%
MDT	Buy	MEDTRONIC	$13,654,056	-6.7%	174,248	+4.9%	1.43%	-0.3%
CVS	Sell	CVS HEALTH	$10,195,866	-14.8%	146,031	-15.6%	1.07%	-8.9%
WM	Sell	WASTE MANAGEMENT INC	$9,544,421	-12.2%	62,611	-0.1%	1.00%	-6.1%
	Buy	GQG PARTNERS EMERGING MARKETSequity mutual fu	$6,920,122	+8.5%	474,306	+6.9%	0.72%	+15.8%
SBGSY	Buy	SCHNEIDER ELEC SA ADR	$6,324,348	+152.7%	191,705	+178.6%	0.66%	+169.5%
HON	Sell	HONEYWELL INTL	$5,907,864	-64.2%	31,979	-59.8%	0.62%	-61.8%
ILMN	Sell	ILLUMINA	$5,843,552	-32.1%	42,567	-7.2%	0.61%	-27.4%
UNP	Sell	UNION PACIFIC	$5,403,933	-0.8%	26,538	-0.4%	0.57%	+6.0%
DIS	Sell	DISNEY	$5,199,065	-55.5%	64,146	-51.0%	0.54%	-52.4%
ABBV	Sell	ABBVIE	$4,357,448	+2.7%	29,233	-7.2%	0.46%	+9.9%
NTAP	Sell	NETAPP	$4,268,250	-18.1%	56,250	-17.6%	0.45%	-12.7%
	Buy	AMG RIVER ROAD SMALL-MID CAP Vequity mutual fu	$3,828,851	+8.6%	413,930	+6.9%	0.40%	+15.9%
APTV	Buy	APTIV PLC	$3,668,238	+25.0%	37,207	+29.4%	0.38%	+33.7%
EW	Buy	EDWARDS LIFESCIENCES	$3,517,553	-23.8%	50,773	+3.8%	0.37%	-18.5%
	Sell	ORSTED A S	$3,504,332	-53.9%	64,355	-20.3%	0.37%	-50.8%
	Sell	VANGUARD 500 INDEX FD ADMIRALequity mutual fu	$3,205,740	-14.0%	8,104	-10.7%	0.34%	-8.2%
TMO	Buy	THERMO FISHER SCIENTIFIC	$3,042,588	-0.1%	6,011	+3.0%	0.32%	+6.7%
NEE	Sell	NEXTERA ENERGY	$2,789,772	-26.2%	48,696	-4.4%	0.29%	-21.3%
TPX	Sell	TEMPUR SEALY INTERNATIONAL INC	$2,788,149	-18.5%	64,332	-24.7%	0.29%	-13.1%
WMT	Sell	WAL-MART STORES	$2,627,170	-4.7%	16,427	-6.4%	0.28%	+1.5%
CHD	Sell	CHURCH & DWIGHT	$2,524,315	-19.8%	27,549	-12.3%	0.26%	-14.2%
IWB	Buy	ISHARES RUSSELL 1000	$2,154,125	+652.2%	9,170	+680.4%	0.23%	+707.1%
MRK	Sell	MERCK	$2,059,618	-11.1%	20,006	-0.4%	0.22%	-4.8%
PEP	Buy	PEPSICO	$2,051,749	-6.2%	12,109	+2.5%	0.22%	0.0%
SPLG	New	SPDR PORT S&P 500 ETF	$1,931,492	–	38,430	–	0.20%	–
ADBE	Buy	ADOBE SYS	$1,822,892	+13.7%	3,575	+9.0%	0.19%	+21.7%
XOM	Buy	EXXON MOBIL	$1,649,530	+14.8%	14,029	+4.7%	0.17%	+22.7%
PYPL	Sell	PAYPAL HOLDINGS	$1,639,861	-75.8%	28,051	-72.4%	0.17%	-74.1%
	Sell	FPA CRESCENT FUNDequity mutual fu	$1,534,367	-12.0%	41,593	-11.5%	0.16%	-5.8%
ECL	Buy	ECOLAB INC	$1,531,545	-5.0%	9,041	+4.8%	0.16%	+1.9%
APH	Sell	AMPHENOL	$1,462,350	-9.7%	17,411	-8.7%	0.15%	-3.8%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$1,426,422	-0.5%	4,072	-3.1%	0.15%	+6.4%
AMT	Sell	AMERICAN TOWER	$1,402,101	-18.4%	8,526	-3.8%	0.15%	-13.0%
VRTX	Buy	VERTEX PHARMACEUTICALS	$1,309,589	-0.1%	3,766	+1.1%	0.14%	+6.2%
UL	Sell	UNILEVER PLC NEW ADR	$1,212,255	-26.5%	24,540	-22.5%	0.13%	-21.6%
EOG	Buy	EOG RESOURCES	$1,074,457	+13.7%	8,476	+2.7%	0.11%	+21.5%
GOOG	Buy	ALPHABET INC CL C	$989,534	+9.1%	7,505	+0.1%	0.10%	+16.9%
SYK	Buy	STRYKER CORP	$896,326	+11.9%	3,280	+25.0%	0.09%	+19.0%
	Sell	CANADIAN PACIFIC RAILWAY LTD	$869,912	-13.2%	11,658	-6.0%	0.09%	-7.1%
NVO	Buy	NOVO NORDISK A S ADR	$870,296	+9.7%	9,570	+95.2%	0.09%	+16.7%
IDXX	Sell	IDEXX CORP	$856,612	-19.8%	1,959	-7.9%	0.09%	-14.3%
	Buy	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$819,265	-1.2%	12,510	+2.7%	0.09%	+6.2%
PFE	Sell	PFIZER	$725,594	-14.9%	21,875	-5.9%	0.08%	-9.5%
RGEN	Sell	REPLIGEN CORP	$715,545	+1.2%	4,500	-10.0%	0.08%	+8.7%
MTD	Sell	METTLER TOLEDO	$703,624	-19.6%	635	-4.8%	0.07%	-14.0%
CL	Sell	COLGATE-PALMOLIVE	$691,331	-10.5%	9,722	-3.1%	0.07%	-5.3%
	Sell	VANGUARD EQUITY INCOME ADMIRALequity mutual fu	$687,349	-19.4%	8,385	-17.2%	0.07%	-14.3%
ITW	Sell	ILLINOIS TOOL WORKS	$648,553	-19.4%	2,816	-12.4%	0.07%	-13.9%
V	Buy	VISA	$594,806	+1.4%	2,586	+4.7%	0.06%	+6.9%
	Sell	VANGUARD HIGH DIVIDEND YIELD Iequity mutual fu	$591,850	-15.9%	19,000	-13.6%	0.06%	-10.1%
SPY	Sell	SPDR S&P 500 ETF	$595,052	-4.3%	1,392	-0.7%	0.06%	+1.6%
PM	Buy	PHILIP MORRIS	$554,276	+12.6%	5,987	+18.7%	0.06%	+20.8%
IBM	Sell	INTL BUSINESS MACH	$544,364	+4.4%	3,880	-0.4%	0.06%	+11.8%
KO	Sell	COCA COLA	$534,833	-8.9%	9,554	-2.1%	0.06%	-3.4%
CB	Sell	CHUBB LIMITED	$464,241	-25.6%	2,230	-31.2%	0.05%	-19.7%
TD	Sell	TORONTO DOMINION BANK	$458,036	-3.8%	7,601	-1.0%	0.05%	+2.1%
CSCO	Sell	CISCO SYS INC	$441,934	-0.1%	8,220	-3.9%	0.05%	+7.0%
SYY	Sell	SYSCO	$435,027	-13.7%	6,586	-3.0%	0.05%	-6.1%
INTC	Buy	INTEL	$400,274	+6.3%	11,259	+0.0%	0.04%	+13.5%
MRNA	Sell	MODERNA INC	$390,953	-21.7%	3,785	-7.9%	0.04%	-16.3%
BMY	Sell	BRISTOL-MYERS SQUIBB	$383,586	-20.2%	6,609	-12.1%	0.04%	-14.9%
TSLA	Sell	TESLA MOTORS	$379,083	-14.1%	1,515	-10.1%	0.04%	-7.0%
DE	Sell	DEERE & CO	$384,173	-14.5%	1,018	-8.2%	0.04%	-9.1%
	Sell	VANGUARD DIVIDEND APPRECIATIONequity mutual fu	$359,327	-31.6%	8,523	-28.5%	0.04%	-26.9%
RY	Sell	ROYAL BANK CANADA	$361,564	-14.6%	4,135	-6.8%	0.04%	-9.5%
RHHBY	Sell	ROCHE HLDG LTD ADR	$350,497	-89.5%	10,330	-88.1%	0.04%	-88.7%
VEEV	Buy	VEEVA SYSTEMS INC	$326,741	+31.6%	1,606	+27.9%	0.03%	+41.7%
CRM	Sell	SALESFORCE.COM	$315,323	-5.8%	1,555	-1.9%	0.03%	0.0%
DCI	Sell	DONALDSON INC	$298,200	-10.0%	5,000	-5.7%	0.03%	-6.1%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION	$286,987	-5.4%	1,847	-1.1%	0.03%	0.0%
IVV	Sell	ISHARES S&P 500	$289,696	-8.4%	675	-4.9%	0.03%	-3.2%
MO	Sell	ALTRIA GROUP	$255,033	-11.5%	6,065	-4.7%	0.03%	-3.6%
QUAL	Sell	ISHARES EDGE MSCI USA QUALITY	$251,719	-7.1%	1,910	-5.0%	0.03%	-3.7%
VZ	Sell	VERIZON COMMUNICATIONS	$233,871	-22.0%	7,216	-10.5%	0.02%	-13.8%
	Buy	NOVOZYMES A S DKK 2.0	$235,018	-11.6%	5,838	+2.0%	0.02%	-3.8%
DLR	Sell	DIGITAL REALTY	$242,040	-67.7%	2,000	-69.6%	0.02%	-65.8%
AFL	New	AFLAC INC	$207,225	–	2,700	–	0.02%	–
	Exit	PRIMECAP ODYSSEY STOCK FUNDequity mutual fu	$0	–	-5,600	–	-0.02%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-4,500	–	-0.02%	–
DEO	Exit	DIAGEO PLC SPSD ADR	$0	–	-1,252	–	-0.02%	–
ACN	Exit	ACCENTURE PLC SHS	$0	–	-690	–	-0.02%	–
	Exit	FIDELITY LARGE CAP GROWTH INDEequity mutual fu	$0	–	-8,116	–	-0.02%	–
ISRG	Exit	INTUITIVE SURGICAL	$0	–	-654	–	-0.02%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-1,500	–	-0.02%	–
EL	Exit	ESTEE LAUDER	$0	–	-1,680	–	-0.03%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$52,977,735	–	273,123	–	5.20%	–
MSFT	New	MICROSOFT	$45,315,489	–	133,070	–	4.45%	–
GOOGL	New	ALPHABET INC CL A	$38,229,666	–	319,379	–	3.75%	–
ADI	New	ANALOG DEVICES	$37,985,228	–	194,986	–	3.73%	–
MA	New	MASTERCARD	$37,805,861	–	96,125	–	3.71%	–
ADP	New	AUTOMATIC DATA PROCESSING	$35,847,978	–	163,101	–	3.52%	–
CNI	New	CANADIAN NATL RAILWAY	$35,624,035	–	294,243	–	3.50%	–
FISV	New	FISERV	$34,489,246	–	273,399	–	3.38%	–
ROK	New	ROCKWELL AUTOMATION	$34,262,958	–	104,000	–	3.36%	–
ABT	New	ABBOTT LABS	$33,862,795	–	310,611	–	3.32%	–
DHR	New	DANAHER CORP	$32,477,479	–	135,323	–	3.19%	–
JNJ	New	JOHNSON & JOHNSON	$32,117,827	–	194,042	–	3.15%	–
AMD	New	ADVANCED MICRO DEVICES	$32,103,451	–	281,832	–	3.15%	–
PG	New	PROCTER & GAMBLE	$31,362,589	–	206,686	–	3.08%	–
NSRGY	New	NESTLE SA ADR	$28,915,291	–	240,260	–	2.84%	–
HD	New	HOME DEPOT	$28,719,273	–	92,452	–	2.82%	–
AMZN	New	AMAZON.COM	$27,578,962	–	211,560	–	2.71%	–
NVDA	New	NVIDIA CORP	$26,328,833	–	62,240	–	2.58%	–
TJX	New	TJX COS	$25,855,837	–	304,940	–	2.54%	–
ATR	New	APTARGROUP	$25,274,328	–	218,145	–	2.48%	–
RTX	New	RAYTHEON TECHNOLOGIES	$24,068,980	–	245,702	–	2.36%	–
XYL	New	XYLEM INC	$21,592,228	–	191,726	–	2.12%	–
UNH	New	UNITED HEALTH GROUP	$21,461,960	–	44,653	–	2.11%	–
CVX	New	CHEVRON	$19,820,780	–	125,966	–	1.94%	–
NVS	New	NOVARTIS AG ADR	$19,355,256	–	191,807	–	1.90%	–
HON	New	HONEYWELL INTL	$16,509,379	–	79,563	–	1.62%	–
NKE	New	NIKE INC CLASS B	$16,377,743	–	148,389	–	1.61%	–
BDX	New	BECTON DICKINSON	$15,745,211	–	59,639	–	1.54%	–
MDT	New	MEDTRONIC	$14,640,384	–	166,179	–	1.44%	–
CVS	New	CVS HEALTH	$11,962,754	–	173,047	–	1.17%	–
DIS	New	DISNEY	$11,678,930	–	130,812	–	1.15%	–
WM	New	WASTE MANAGEMENT INC	$10,870,139	–	62,681	–	1.07%	–
ILMN	New	ILLUMINA	$8,604,042	–	45,891	–	0.84%	–
	New	ORSTED A S	$7,607,547	–	80,755	–	0.75%	–
PYPL	New	PAYPAL HOLDINGS	$6,775,898	–	101,542	–	0.66%	–
	New	GQG PARTNERS EMERGING MARKETSequity mutual fu	$6,376,226	–	443,718	–	0.63%	–
UNP	New	UNION PACIFIC	$5,449,644	–	26,633	–	0.54%	–
NTAP	New	NETAPP	$5,214,300	–	68,250	–	0.51%	–
EW	New	EDWARDS LIFESCIENCES	$4,613,303	–	48,906	–	0.45%	–
ABBV	New	ABBVIE	$4,244,792	–	31,506	–	0.42%	–
NEE	New	NEXTERA ENERGY	$3,778,130	–	50,918	–	0.37%	–
	New	VANGUARD 500 INDEX FD ADMIRALequity mutual fu	$3,726,485	–	9,077	–	0.37%	–
	New	AMG RIVER ROAD SMALL-MID CAP Vequity mutual fu	$3,526,534	–	387,106	–	0.35%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$3,421,778	–	85,395	–	0.34%	–
RHHBY	New	ROCHE HLDG LTD ADR	$3,324,737	–	87,035	–	0.33%	–
CHD	New	CHURCH & DWIGHT	$3,149,126	–	31,419	–	0.31%	–
TMO	New	THERMO FISHER SCIENTIFIC	$3,045,976	–	5,838	–	0.30%	–
APTV	New	APTIV PLC	$2,934,883	–	28,748	–	0.29%	–
WMT	New	WAL-MART STORES	$2,757,252	–	17,542	–	0.27%	–
SBGSY	New	SCHNEIDER ELEC SA ADR	$2,502,259	–	68,819	–	0.25%	–
MRK	New	MERCK	$2,317,147	–	20,081	–	0.23%	–
PEP	New	PEPSICO	$2,187,633	–	11,811	–	0.22%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,742,721	–	47,012	–	0.17%	–
AMT	New	AMERICAN TOWER	$1,719,278	–	8,865	–	0.17%	–
UL	New	UNILEVER PLC NEW ADR	$1,650,348	–	31,658	–	0.16%	–
APH	New	AMPHENOL	$1,619,147	–	19,060	–	0.16%	–
ECL	New	ECOLAB INC	$1,611,321	–	8,631	–	0.16%	–
ADBE	New	ADOBE SYS	$1,603,398	–	3,279	–	0.16%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,432,882	–	4,202	–	0.14%	–
XOM	New	EXXON MOBIL	$1,436,721	–	13,396	–	0.14%	–
JPM	New	JPMORGAN CHASE	$1,398,260	–	9,614	–	0.14%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,347,152	–	96,987	–	0.13%	–
VRTX	New	VERTEX PHARMACEUTICALS	$1,311,217	–	3,726	–	0.13%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,119,576	–	66,800	–	0.11%	–
IDXX	New	IDEXX CORP	$1,067,741	–	2,126	–	0.10%	–
	New	CANADIAN PACIFIC RAILWAY LTD	$1,002,247	–	12,408	–	0.10%	–
EOG	New	EOG RESOURCES	$944,741	–	8,255	–	0.09%	–
GOOG	New	ALPHABET INC CL C	$907,275	–	7,500	–	0.09%	–
MTD	New	METTLER TOLEDO	$874,864	–	667	–	0.09%	–
PFE	New	PFIZER	$852,810	–	23,250	–	0.08%	–
	New	VANGUARD EQUITY INCOME ADMIRALequity mutual fu	$852,551	–	10,127	–	0.08%	–
	New	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$828,919	–	12,176	–	0.08%	–
ITW	New	ILLINOIS TOOL WORKS	$804,515	–	3,216	–	0.08%	–
SYK	New	STRYKER CORP	$800,861	–	2,625	–	0.08%	–
NVO	New	NOVO NORDISK A S ADR	$793,291	–	4,902	–	0.08%	–
CL	New	COLGATE-PALMOLIVE	$772,865	–	10,032	–	0.08%	–
DLR	New	DIGITAL REALTY	$748,581	–	6,574	–	0.07%	–
COST	New	COSTCO WHOLESALE	$720,891	–	1,339	–	0.07%	–
	New	VANGUARD DIVIDEND GROWTHequity mutual fu	$716,830	–	19,802	–	0.07%	–
RGEN	New	REPLIGEN CORP	$707,300	–	5,000	–	0.07%	–
	New	VANGUARD HIGH DIVIDEND YIELD Iequity mutual fu	$704,000	–	22,000	–	0.07%	–
SPY	New	SPDR S&P 500 ETF	$621,479	–	1,402	–	0.06%	–
CB	New	CHUBB LIMITED	$623,894	–	3,240	–	0.06%	–
V	New	VISA	$586,576	–	2,470	–	0.06%	–
KO	New	COCA COLA	$587,386	–	9,754	–	0.06%	–
GIS	New	GENERAL MILLS	$571,722	–	7,454	–	0.06%	–
	New	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$556,313	–	5,837	–	0.06%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$550,697	–	7,550	–	0.05%	–
	New	VANGUARD DIVIDEND APPRECIATIONequity mutual fu	$525,471	–	11,918	–	0.05%	–
	New	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$523,240	–	8,212	–	0.05%	–
IBM	New	INTL BUSINESS MACH	$521,324	–	3,896	–	0.05%	–
ASML	New	ASML HOLDING NV	$507,174	–	704	–	0.05%	–
	New	VANGUARD TOTAL INTL STOCK INDEequity mutual fu	$506,831	–	16,838	–	0.05%	–
	New	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$513,000	–	5,000	–	0.05%	–
MRNA	New	MODERNA INC	$499,365	–	4,110	–	0.05%	–
SYY	New	SYSCO	$503,902	–	6,791	–	0.05%	–
PM	New	PHILIP MORRIS	$492,200	–	5,042	–	0.05%	–
TD	New	TORONTO DOMINION BANK	$475,989	–	7,676	–	0.05%	–
BMY	New	BRISTOL-MYERS SQUIBB	$480,840	–	7,519	–	0.05%	–
DE	New	DEERE & CO	$449,356	–	1,109	–	0.04%	–
TSLA	New	TESLA MOTORS	$441,082	–	1,685	–	0.04%	–
CSCO	New	CISCO SYS INC	$442,492	–	8,552	–	0.04%	–
RY	New	ROYAL BANK CANADA	$423,587	–	4,435	–	0.04%	–
	New	PRIMECAP ODYSSEY AGGRESSIVE GRequity mutual fu	$421,500	–	10,000	–	0.04%	–
DRI	New	DARDEN RESTAURANTS	$400,157	–	2,395	–	0.04%	–
INTC	New	INTEL	$376,473	–	11,258	–	0.04%	–
VTV	New	VANGUARD VALUE ETF	$355,250	–	2,500	–	0.04%	–
CRM	New	SALESFORCE.COM	$334,847	–	1,585	–	0.03%	–
DCI	New	DONALDSON INC	$331,303	–	5,300	–	0.03%	–
EL	New	ESTEE LAUDER	$329,918	–	1,680	–	0.03%	–
IVV	New	ISHARES S&P 500	$316,279	–	710	–	0.03%	–
ORCL	New	ORACLE	$307,967	–	2,586	–	0.03%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION	$303,419	–	1,868	–	0.03%	–
BNS	New	BANK OF NOVA SCOTIA	$308,997	–	6,175	–	0.03%	–
VZ	New	VERIZON COMMUNICATIONS	$299,975	–	8,066	–	0.03%	–
AON	New	AON PLC	$293,420	–	850	–	0.03%	–
MO	New	ALTRIA GROUP	$288,334	–	6,365	–	0.03%	–
IWB	New	ISHARES RUSSELL 1000	$286,394	–	1,175	–	0.03%	–
MKC	New	MCCORMICK & CO	$273,815	–	3,139	–	0.03%	–
QUAL	New	ISHARES EDGE MSCI USA QUALITY	$271,089	–	2,010	–	0.03%	–
PINS	New	PINTEREST INC	$280,071	–	10,244	–	0.03%	–
	New	NOVOZYMES A S DKK 2.0	$265,806	–	5,723	–	0.03%	–
VEEV	New	VEEVA SYSTEMS INC	$248,349	–	1,256	–	0.02%	–
MMM	New	3M	$249,624	–	2,494	–	0.02%	–
AZO	New	AUTO ZONE	$249,336	–	100	–	0.02%	–
	New	NESTLE SA	$240,400	–	2,000	–	0.02%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$236,655	–	1,500	–	0.02%	–
ISRG	New	INTUITIVE SURGICAL	$223,629	–	654	–	0.02%	–
	New	FIDELITY LARGE CAP GROWTH INDEequity mutual fu	$217,602	–	8,116	–	0.02%	–
DEO	New	DIAGEO PLC SPSD ADR	$217,197	–	1,252	–	0.02%	–
ACN	New	ACCENTURE PLC SHS	$212,920	–	690	–	0.02%	–
APD	New	AIR PRODUCTS & CHEM	$212,666	–	710	–	0.02%	–
FB	New	META PLATFORMS INC	$203,756	–	710	–	0.02%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$207,810	–	4,500	–	0.02%	–
	New	PRIMECAP ODYSSEY STOCK FUNDequity mutual fu	$200,257	–	5,600	–	0.02%	–
	New	FRAC FIRST HORIZON NATL CORP	$2	–	187,721	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
T	Exit	AT&T INC.	$0	–	-10,745	–	-0.02%	–
	Exit	VANGUARD EMERGING MARKETS STOCequity mutual fu	$0	–	-6,691	–	-0.02%	–
DEO	Exit	DIAGEO PLC SPSD ADR	$0	–	-1,200	–	-0.02%	–
PINS	Exit	PINTEREST INC	$0	–	-8,880	–	-0.02%	–
SO	Exit	SOUTHERN CO	$0	–	-3,100	–	-0.02%	–
	Exit	NESTLE SA	$0	–	-2,000	–	-0.02%	–
SBUX	Exit	STARBUCKS	$0	–	-2,635	–	-0.03%	–
AON	Exit	AON PLC	$0	–	-850	–	-0.03%	–
TGT	Exit	TARGET CORP	$0	–	-1,547	–	-0.03%	–
	Exit	MATTHEWS ASIA DIVIDEND FUNDequity mutual fu	$0	–	-17,838	–	-0.03%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-1,175	–	-0.03%	–
IVV	Exit	ISHARES S&P 500	$0	–	-640	–	-0.03%	–
MO	Exit	ALTRIA GROUP	$0	–	-5,990	–	-0.03%	–
AZO	Exit	AUTO ZONE	$0	–	-125	–	-0.03%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION	$0	–	-2,018	–	-0.03%	–
BEAM	Exit	BEAM THERAPEUTICS	$0	–	-5,680	–	-0.03%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-1,200	–	-0.03%	–
CRM	Exit	SALESFORCE.COM	$0	–	-1,960	–	-0.03%	–
MKC	Exit	MCCORMICK & CO	$0	–	-3,990	–	-0.03%	–
TSLA	Exit	TESLA MOTORS	$0	–	-1,080	–	-0.03%	–
DCI	Exit	DONALDSON INC	$0	–	-5,900	–	-0.03%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-1,922	–	-0.04%	–
BNS	Exit	BANK OF NOVA SCOTIA	$0	–	-6,210	–	-0.04%	–
FB	Exit	META PLATFORMS INC	$0	–	-2,222	–	-0.04%	–
DE	Exit	DEERE & CO	$0	–	-956	–	-0.04%	–
DRI	Exit	DARDEN RESTAURANTS	$0	–	-2,750	–	-0.04%	–
PM	Exit	PHILIP MORRIS	$0	–	-4,300	–	-0.04%	–
VTV	Exit	VANGUARD VALUE ETF	$0	–	-2,950	–	-0.04%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-3,274	–	-0.05%	–
CSCO	Exit	CISCO SYS INC	$0	–	-10,051	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA	$0	–	-4,465	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL INC	$0	–	-7,400	–	-0.05%	–
SBGSY	Exit	SCHNEIDER ELEC SA ADR	$0	–	-18,500	–	-0.05%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-10,881	–	-0.05%	–
V	Exit	VISA	$0	–	-2,609	–	-0.05%	–
CB	Exit	CHUBB LIMITED	$0	–	-2,585	–	-0.06%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-8,301	–	-0.06%	–
	Exit	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$0	–	-6,703	–	-0.07%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-8,056	–	-0.07%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-6,010	–	-0.07%	–
GIS	Exit	GENERAL MILLS	$0	–	-7,551	–	-0.07%	–
MMM	Exit	3M	$0	–	-5,202	–	-0.07%	–
SYY	Exit	SYSCO	$0	–	-8,213	–	-0.07%	–
	Exit	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$0	–	-9,982	–	-0.07%	–
	Exit	PRIMECAP ODYSSEY AGGRESSIVE GRequity mutual fu	$0	–	-16,000	–	-0.07%	–
	Exit	VANGUARD DIVIDEND GROWTHequity mutual fu	$0	–	-19,781	–	-0.07%	–
KO	Exit	COCA COLA	$0	–	-11,404	–	-0.08%	–
DLR	Exit	DIGITAL REALTY	$0	–	-6,574	–	-0.08%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-1,444	–	-0.08%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-3,825	–	-0.08%	–
	Exit	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$0	–	-13,536	–	-0.08%	–
ADBE	Exit	ADOBE SYS	$0	–	-2,793	–	-0.09%	–
MTD	Exit	METTLER TOLEDO	$0	–	-717	–	-0.09%	–
CP	Exit	CANADIAN PACIFIC RAILWAYLTD	$0	–	-11,783	–	-0.09%	–
SYK	Exit	STRYKER CORP	$0	–	-3,900	–	-0.09%	–
	Exit	VANGUARD TOTAL INTL STOCK INDEequity mutual fu	$0	–	-33,676	–	-0.10%	–
IDXX	Exit	IDEXX CORP	$0	–	-2,585	–	-0.10%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-17,335	–	-0.10%	–
	Exit	VANGUARD DIVIDEND APPRECIATIONequity mutual fu	$0	–	-23,836	–	-0.10%	–
	Exit	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$0	–	-11,722	–	-0.11%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-3,421	–	-0.12%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-9,516	–	-0.12%	–
EOG	Exit	EOG RESOURCES	$0	–	-9,029	–	-0.12%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-5,400	–	-0.12%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-2,929	–	-0.12%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-15,200	–	-0.12%	–
XOM	Exit	EXXON MOBIL	$0	–	-13,290	–	-0.14%	–
PFE	Exit	PFIZER	$0	–	-27,750	–	-0.14%	–
APH	Exit	AMPHENOL	$0	–	-20,049	–	-0.16%	–
	Exit	VANGUARD EQUITY INCOME ADMIRALequity mutual fu	$0	–	-20,253	–	-0.19%	–
	Exit	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$0	–	-99,506	–	-0.19%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-54,038	–	-0.20%	–
MRK	Exit	MERCK	$0	–	-19,802	–	-0.20%	–
	Exit	VANGUARD HIGH DIVIDEND YIELD Iequity mutual fu	$0	–	-60,000	–	-0.20%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-112,780	–	-0.20%	–
ECL	Exit	ECOLAB INC	$0	–	-12,092	–	-0.20%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-6,535	–	-0.20%	–
	Exit	WALTHAUSEN FOCUSED SMALL CAP Vequity mutual fu	$0	–	-168,878	–	-0.21%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-72,592	–	-0.21%	–
INTC	Exit	INTEL CORP	$0	–	-71,592	–	-0.22%	–
PEP	Exit	PEPSICO	$0	–	-11,364	–	-0.22%	–
APTV	Exit	APTIV PLC	$0	–	-29,333	–	-0.27%	–
WMT	Exit	WAL-MART STORES	$0	–	-19,112	–	-0.29%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-38,351	–	-0.32%	–
AMT	Exit	AMERICAN TOWER	$0	–	-13,143	–	-0.33%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-5,790	–	-0.34%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-42,364	–	-0.39%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-86,450	–	-0.44%	–
ABBV	Exit	ABBVIE	$0	–	-32,384	–	-0.51%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-126,847	–	-0.60%	–
	Exit	VANGUARD 500 INDEX FD ADMIRALequity mutual fu	$0	–	-15,643	–	-0.61%	–
UNP	Exit	UNION PACIFIC	$0	–	-27,453	–	-0.63%	–
NTAP	Exit	NETAPP	$0	–	-92,250	–	-0.67%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-92,128	–	-0.89%	–
	Exit	ORSTED A S	$0	–	-97,405	–	-0.91%	–
MDT	Exit	MEDTRONIC	$0	–	-110,157	–	-1.04%	–
NVDA	Exit	NVIDIA CORP	$0	–	-75,011	–	-1.07%	–
ILMN	Exit	ILLUMINA	$0	–	-48,856	–	-1.10%	–
BDX	Exit	BECTON DICKINSON	$0	–	-41,918	–	-1.10%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-62,926	–	-1.18%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-135,415	–	-1.32%	–
RDSMY	Exit	KONINKLIJKE DSM NV	$0	–	-418,578	–	-1.40%	–
HON	Exit	HONEYWELL INTL	$0	–	-73,120	–	-1.43%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-144,209	–	-1.46%	–
CVX	Exit	CHEVRON	$0	–	-95,499	–	-1.61%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-188,742	–	-1.69%	–
XYL	Exit	XYLEM INC	$0	–	-176,269	–	-1.81%	–
DIS	Exit	DISNEY	$0	–	-180,821	–	-2.00%	–
AMD	Exit	ADVANCED MICRO DEVICES INC	$0	–	-275,450	–	-2.05%	–
CVS	Exit	CVS HEALTH	$0	–	-184,280	–	-2.06%	–
TJX	Exit	TJX COS	$0	–	-292,484	–	-2.14%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-235,085	–	-2.26%	–
ATR	Exit	APTARGROUP	$0	–	-213,601	–	-2.38%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-97,539	–	-2.46%	–
AMZN	Exit	AMAZON.COM	$0	–	-193,758	–	-2.57%	–
UNH	Exit	UNITED HEALTH GROUP	$0	–	-43,601	–	-2.59%	–
HD	Exit	HOME DEPOT	$0	–	-86,243	–	-2.80%	–
FISV	Exit	FISERV	$0	–	-261,403	–	-2.87%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-234,440	–	-2.96%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-202,582	–	-3.00%	–
ABT	Exit	ABBOTT LABS	$0	–	-294,442	–	-3.35%	–
MA	Exit	MASTERCARD	$0	–	-100,433	–	-3.36%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-177,688	–	-3.41%	–
ADI	Exit	ANALOG DEVICES	$0	–	-217,291	–	-3.56%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-319,569	–	-3.59%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-288,903	–	-3.67%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-134,580	–	-3.68%	–
DHR	Exit	DANAHER CORP	$0	–	-127,742	–	-3.88%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-164,678	–	-4.38%	–
AAPL	Exit	APPLE INC	$0	–	-291,338	–	-4.73%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$40,263,000	+0.6%	291,338	-0.5%	4.73%	+3.8%
ADP	Sell	AUTOMATIC DATA PROCESSING	$37,248,000	+7.4%	164,678	-0.3%	4.38%	+10.9%
DHR	Sell	DANAHER CORP	$32,995,000	-0.5%	127,742	-2.4%	3.88%	+2.7%
MSFT	Buy	MICROSOFT CORP	$31,344,000	-8.4%	134,580	+1.0%	3.68%	-5.4%
CNI	Buy	CANADIAN NATL RAILWAY	$31,199,000	-3.8%	288,903	+0.2%	3.67%	-0.7%
GOOGL	Buy	ALPHABET INC CL A	$30,567,000	-11.5%	319,569	+1916.5%	3.59%	-8.6%
ADI	Buy	ANALOG DEVICES	$30,277,000	-4.4%	217,291	+0.2%	3.56%	-1.4%
JNJ	Buy	JOHNSON & JOHNSON	$29,027,000	-7.4%	177,688	+0.6%	3.41%	-4.4%
MA	Buy	MASTERCARD	$28,557,000	-9.3%	100,433	+0.6%	3.36%	-6.4%
ABT	Buy	ABBOTT LABS	$28,490,000	-10.2%	294,442	+0.9%	3.35%	-7.3%
PG	Buy	PROCTER & GAMBLE	$25,576,000	-11.3%	202,582	+1.0%	3.00%	-8.4%
NSRGY	Buy	NESTLE SA ADR	$25,228,000	-7.0%	234,440	+0.6%	2.96%	-4.0%
FISV	Buy	FISERV	$24,459,000	+5.8%	261,403	+0.6%	2.87%	+9.3%
HD	Buy	HOME DEPOT	$23,798,000	+1.9%	86,243	+1.3%	2.80%	+5.2%
UNH	Sell	UNITED HEALTH GROUP	$22,020,000	-1.9%	43,601	-0.2%	2.59%	+1.3%
AMZN	Buy	AMAZON.COM	$21,895,000	+8.1%	193,758	+1.6%	2.57%	+11.5%
ROK	Buy	ROCKWELL AUTOMATION	$20,982,000	+10.7%	97,539	+2.6%	2.46%	+14.3%
ATR	Buy	APTARGROUP	$20,298,000	-6.8%	213,601	+1.3%	2.38%	-3.8%
RTX	Buy	RAYTHEON TECHNOLOGIES	$19,244,000	-14.6%	235,085	+0.3%	2.26%	-11.8%
TJX	Buy	TJX COS	$18,169,000	+12.4%	292,484	+1.0%	2.14%	+16.0%
CVS	Buy	CVS HEALTH	$17,575,000	+4.2%	184,280	+1.2%	2.06%	+7.6%
AMD	Buy	ADVANCED MICRO DEVICES INC	$17,452,000	-16.9%	275,450	+0.3%	2.05%	-14.2%
DIS	Buy	DISNEY	$17,057,000	+1.5%	180,821	+1.6%	2.00%	+4.8%
XYL	Buy	XYLEM INC	$15,399,000	+13.3%	176,269	+1.4%	1.81%	+17.0%
NVS	Sell	NOVARTIS AG ADR	$14,346,000	-10.3%	188,742	-0.2%	1.69%	-7.4%
CVX	Buy	CHEVRON	$13,720,000	-0.3%	95,499	+0.5%	1.61%	+2.9%
PYPL	Buy	PAYPAL HOLDINGS	$12,412,000	+23.5%	144,209	+0.2%	1.46%	+27.4%
HON	Buy	HONEYWELL INTL	$12,209,000	-1.0%	73,120	+3.0%	1.43%	+2.1%
RDSMY	Sell	KONINKLIJKE DSM NV	$11,888,000	-24.4%	418,578	-4.3%	1.40%	-21.9%
NKE	Buy	NIKE INC CLASS B	$11,256,000	-18.6%	135,415	+0.1%	1.32%	-16.0%
BDX	Sell	BECTON DICKINSON	$9,341,000	-10.7%	41,918	-1.2%	1.10%	-7.9%
ILMN	Buy	ILLUMINA	$9,321,000	+5.2%	48,856	+1.6%	1.10%	+8.5%
NVDA	Buy	NVIDIA CORP	$9,106,000	-11.2%	75,011	+10.9%	1.07%	-8.3%
MDT	Buy	MEDTRONIC	$8,895,000	+6.2%	110,157	+18.0%	1.04%	+9.7%
	Buy	ORSTED A S	$7,781,000	-22.4%	97,405	+1.4%	0.91%	-19.9%
EW	Buy	EDWARDS LIFESCIENCES	$7,613,000	-11.9%	92,128	+1.4%	0.89%	-9.1%
NTAP	Sell	NETAPP	$5,706,000	-16.1%	92,250	-11.5%	0.67%	-13.4%
UNP	Buy	UNION PACIFIC	$5,348,000	-7.6%	27,453	+1.1%	0.63%	-4.7%
	New	VANGUARD 500 INDEX FD ADMIRALequity mutual fu	$5,175,000	–	15,643	–	0.61%	–
RHHBY	Buy	ROCHE HLDG LTD ADR	$5,153,000	-2.0%	126,847	+0.7%	0.60%	+1.2%
ABBV	Sell	ABBVIE	$4,346,000	-14.3%	32,384	-2.2%	0.51%	-11.4%
UL	Sell	UNILEVER PLC NEW ADR	$3,790,000	-19.4%	86,450	-15.7%	0.44%	-16.8%
NEE	Buy	NEXTERA ENERGY	$3,322,000	+5.0%	42,364	+3.8%	0.39%	+8.3%
TMO	Buy	THERMO FISHER SCIENTIFIC	$2,937,000	-3.5%	5,790	+3.3%	0.34%	-0.6%
AMT	Sell	AMERICAN TOWER	$2,822,000	-17.5%	13,143	-1.8%	0.33%	-14.7%
CHD	Sell	CHURCH & DWIGHT	$2,740,000	-23.4%	38,351	-0.7%	0.32%	-20.9%
WMT	Sell	WAL-MART STORES	$2,479,000	+4.6%	19,112	-1.9%	0.29%	+7.8%
APTV	Buy	APTIV PLC	$2,294,000	-11.8%	29,333	+0.4%	0.27%	-8.8%
PEP	Buy	PEPSICO	$1,855,000	+5.7%	11,364	+7.9%	0.22%	+9.0%
INTC	Buy	INTEL CORP	$1,845,000	-30.5%	71,592	+0.9%	0.22%	-28.1%
ECL	Sell	ECOLAB INC	$1,746,000	-6.9%	12,092	-0.8%	0.20%	-3.8%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$1,745,000	-4.5%	6,535	-2.4%	0.20%	-1.4%
	Sell	VANGUARD HIGH DIVIDEND YIELD Iequity mutual fu	$1,716,000	-37.8%	60,000	-33.3%	0.20%	-35.7%
MRK	Buy	MERCK	$1,705,000	-1.9%	19,802	+3.9%	0.20%	+1.0%
	New	VANGUARD EQUITY INCOME ADMIRALequity mutual fu	$1,606,000	–	20,253	–	0.19%	–
APH	Sell	AMPHENOL	$1,342,000	+1.9%	20,049	-2.0%	0.16%	+5.3%
PFE	Buy	PFIZER	$1,214,000	-7.7%	27,750	+10.6%	0.14%	-4.7%
XOM	Buy	EXXON MOBIL	$1,160,000	+10.2%	13,290	+8.1%	0.14%	+13.3%
CL	Sell	COLGATE-PALMOLIVE	$1,068,000	-12.4%	15,200	-0.0%	0.12%	-10.1%
SPY	Buy	SPDR S&P 500 ETF	$1,046,000	+61.2%	2,929	+70.3%	0.12%	+66.2%
EOG	Sell	EOG RESOURCES	$1,009,000	-4.7%	9,029	-5.9%	0.12%	-1.7%
RGEN	Sell	REPLIGEN CORP	$1,010,000	+1.2%	5,400	-12.1%	0.12%	+4.4%
JPM	Buy	JPMORGAN CHASE	$994,000	+3.6%	9,516	+11.7%	0.12%	+7.3%
VRTX	Buy	VERTEX PHARMACEUTICALS	$991,000	+39.0%	3,421	+35.2%	0.12%	+43.2%
	Buy	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$960,000	+332.4%	11,722	+346.6%	0.11%	+352.0%
	Sell	NOVOZYMES A S DKK 2.0	$874,000	-30.6%	17,335	-17.6%	0.10%	-28.0%
	New	VANGUARD DIVIDEND APPRECIATIONequity mutual fu	$874,000	–	23,836	–	0.10%	–
IDXX	Sell	IDEXX CORP	$842,000	-7.9%	2,585	-0.8%	0.10%	-4.8%
	New	VANGUARD TOTAL INTL STOCK INDEequity mutual fu	$828,000	–	33,676	–	0.10%	–
SYK	Sell	STRYKER CORP	$790,000	-6.5%	3,900	-8.2%	0.09%	-3.1%
CP	Sell	CANADIAN PACIFIC RAILWAYLTD	$786,000	-8.9%	11,783	-4.6%	0.09%	-6.1%
MTD	Sell	METTLER TOLEDO	$777,000	-7.6%	717	-2.0%	0.09%	-5.2%
ADBE	Buy	ADOBE SYS	$769,000	-9.5%	2,793	+20.2%	0.09%	-7.2%
	New	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$726,000	–	13,536	–	0.08%	–
KO	Sell	COCA COLA	$639,000	-15.8%	11,404	-5.5%	0.08%	-12.8%
	Sell	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$595,000	-10.1%	9,982	-6.0%	0.07%	-6.7%
GOOG	Buy	ALPHABET INC CL C	$578,000	+4.7%	6,010	+2284.9%	0.07%	+7.9%
SYY	Sell	SYSCO	$581,000	-17.5%	8,213	-1.2%	0.07%	-15.0%
MMM	Sell	3M	$575,000	-16.3%	5,202	-2.0%	0.07%	-12.8%
GIS	Buy	GENERAL MILLS	$578,000	+14.2%	7,551	+12.5%	0.07%	+17.2%
BMY	Sell	BRISTOL-MYERS SQUIBB	$573,000	-7.9%	8,056	-0.3%	0.07%	-5.6%
TD	Sell	TORONTO DOMINION BANK	$509,000	-13.1%	8,301	-7.1%	0.06%	-10.4%
VZ	Buy	VERIZON COMMUNICATIONS	$413,000	-16.1%	10,881	+12.2%	0.05%	-12.5%
SBGSY	Buy	SCHNEIDER ELEC SA ADR	$416,000	+35.9%	18,500	+42.6%	0.05%	+40.0%
MDLZ	Sell	MONDELEZ INTERNATIONAL INC	$406,000	-12.5%	7,400	-1.1%	0.05%	-9.4%
RY	Sell	ROYAL BANK CANADA	$402,000	-18.0%	4,465	-11.8%	0.05%	-16.1%
CSCO	Sell	CISCO SYS INC	$402,000	-19.4%	10,051	-14.1%	0.05%	-17.5%
IBM	Buy	INTL BUSINESS MACH	$389,000	-11.8%	3,274	+4.8%	0.05%	-8.0%
DRI	Sell	DARDEN RESTAURANTS	$347,000	+5.5%	2,750	-5.5%	0.04%	+10.8%
FB	Sell	META PLATFORMS INC	$301,000	-23.0%	2,222	-8.4%	0.04%	-20.5%
TXN	Buy	TEXAS INSTRUMENTS	$297,000	+3.8%	1,922	+3.3%	0.04%	+6.1%
TSLA	Buy	TESLA MOTORS	$286,000	+18.2%	1,080	+200.0%	0.03%	+21.4%
BEAM	New	BEAM THERAPEUTICS	$271,000	–	5,680	–	0.03%	–
VIG	Sell	VANGUARD DIVIDEND APPRECIATION	$273,000	-7.8%	2,018	-2.3%	0.03%	-5.9%
TGT	New	TARGET CORP	$230,000	–	1,547	–	0.03%	–
IVV	Buy	ISHARES S&P 500	$229,000	-5.4%	640	+0.2%	0.03%	-3.6%
SBUX	New	STARBUCKS	$222,000	–	2,635	–	0.03%	–
	New	VANGUARD EMERGING MARKETS STOCequity mutual fu	$204,000	–	6,691	–	0.02%	–
PINS	New	PINTEREST INC	$207,000	–	8,880	–	0.02%	–
T	Sell	AT&T INC.	$165,000	-27.6%	10,745	-1.3%	0.02%	-26.9%
DFUS	Exit	DEMENSIONAL US EQUITY ETF	$0	–	-5,500	–	-0.02%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-6,216	–	-0.03%	–
QUAL	Exit	ISHARES EDGE MSCI USA QUALITY	$0	–	-2,450	–	-0.03%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-13,110	–	-0.03%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$40,041,000	–	292,866	–	4.56%	–
ADP	New	AUTOMATIC DATA PROCESSING	$34,677,000	–	165,096	–	3.95%	–
GOOGL	New	ALPHABET INC CL A	$34,537,000	–	15,848	–	3.93%	–
MSFT	New	MICROSOFT CORP	$34,219,000	–	133,234	–	3.89%	–
DHR	New	DANAHER CORP	$33,169,000	–	130,835	–	3.78%	–
CNI	New	CANADIAN NATL RAILWAY	$32,435,000	–	288,391	–	3.69%	–
ABT	New	ABBOTT LABS	$31,716,000	–	291,913	–	3.61%	–
ADI	New	ANALOG DEVICES	$31,687,000	–	216,900	–	3.61%	–
MA	New	MASTERCARD	$31,499,000	–	99,845	–	3.58%	–
JNJ	New	JOHNSON & JOHNSON	$31,345,000	–	176,582	–	3.57%	–
PG	New	PROCTER & GAMBLE	$28,835,000	–	200,536	–	3.28%	–
NSRGY	New	NESTLE SA ADR	$27,122,000	–	233,029	–	3.09%	–
HD	New	HOME DEPOT	$23,345,000	–	85,115	–	2.66%	–
FISV	New	FISERV	$23,113,000	–	259,779	–	2.63%	–
RTX	New	RAYTHEON TECHNOLOGIES	$22,523,000	–	234,346	–	2.56%	–
UNH	New	UNITED HEALTH GROUP	$22,437,000	–	43,684	–	2.55%	–
ATR	New	APTARGROUP	$21,772,000	–	210,953	–	2.48%	–
AMD	New	ADVANCED MICRO DEVICES INC	$20,996,000	–	274,560	–	2.39%	–
AMZN	New	AMAZON.COM	$20,262,000	–	190,777	–	2.31%	–
ROK	New	ROCKWELL AUTOMATION	$18,956,000	–	95,107	–	2.16%	–
CVS	New	CVS HEALTH	$16,867,000	–	182,034	–	1.92%	–
DIS	New	DISNEY	$16,801,000	–	177,977	–	1.91%	–
TJX	New	TJX COS	$16,166,000	–	289,454	–	1.84%	–
NVS	New	NOVARTIS AG ADR	$15,994,000	–	189,210	–	1.82%	–
RDSMY	New	KONINKLIJKE DSM NV	$15,722,000	–	437,319	–	1.79%	–
NKE	New	NIKE INC CLASS B	$13,822,000	–	135,243	–	1.57%	–
CVX	New	CHEVRON	$13,759,000	–	95,033	–	1.57%	–
XYL	New	XYLEM INC	$13,586,000	–	173,779	–	1.55%	–
HON	New	HONEYWELL INTL	$12,338,000	–	70,986	–	1.40%	–
BDX	New	BECTON DICKINSON	$10,461,000	–	42,435	–	1.19%	–
NVDA	New	NVIDIA CORP	$10,258,000	–	67,668	–	1.17%	–
PYPL	New	PAYPAL HOLDINGS	$10,054,000	–	143,964	–	1.14%	–
	New	ORSTED A S	$10,024,000	–	96,095	–	1.14%	–
WM	New	WASTE MANAGEMENT INC	$9,626,000	–	62,926	–	1.10%	–
ILMN	New	ILLUMINA	$8,864,000	–	48,080	–	1.01%	–
EW	New	EDWARDS LIFESCIENCES	$8,643,000	–	90,898	–	0.98%	–
MDT	New	MEDTRONIC	$8,376,000	–	93,326	–	0.95%	–
NTAP	New	NETAPP	$6,801,000	–	104,250	–	0.77%	–
UNP	New	UNION PACIFIC	$5,791,000	–	27,151	–	0.66%	–
RHHBY	New	ROCHE HLDG LTD ADR	$5,257,000	–	126,027	–	0.60%	–
ABBV	New	ABBVIE	$5,071,000	–	33,112	–	0.58%	–
UL	New	UNILEVER PLC NEW ADR	$4,701,000	–	102,583	–	0.54%	–
CHD	New	CHURCH & DWIGHT	$3,579,000	–	38,626	–	0.41%	–
AMT	New	AMERICAN TOWER	$3,419,000	–	13,378	–	0.39%	–
NEE	New	NEXTERA ENERGY	$3,163,000	–	40,831	–	0.36%	–
TMO	New	THERMO FISHER SCIENTIFIC	$3,045,000	–	5,605	–	0.35%	–
	New	VANGUARD HIGH DIVIDEND YIELD Iequity mutual fu	$2,758,000	–	90,000	–	0.31%	–
INTC	New	INTEL CORP	$2,655,000	–	70,977	–	0.30%	–
APTV	New	APTIV PLC	$2,602,000	–	29,217	–	0.30%	–
WMT	New	WAL-MART STORES	$2,369,000	–	19,489	–	0.27%	–
ECL	New	ECOLAB INC	$1,875,000	–	12,192	–	0.21%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,828,000	–	6,695	–	0.21%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,794,000	–	112,780	–	0.20%	–
	New	WALTHAUSEN FOCUSED SMALL CAP Vequity mutual fu	$1,788,000	–	168,878	–	0.20%	–
PEP	New	PEPSICO	$1,755,000	–	10,530	–	0.20%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,748,000	–	54,038	–	0.20%	–
MRK	New	MERCK	$1,738,000	–	19,063	–	0.20%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,647,000	–	99,506	–	0.19%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$1,551,000	–	72,592	–	0.18%	–
APH	New	AMPHENOL	$1,317,000	–	20,449	–	0.15%	–
PFE	New	PFIZER	$1,315,000	–	25,082	–	0.15%	–
	New	NOVOZYMES A S DKK 2.0	$1,260,000	–	21,035	–	0.14%	–
CL	New	COLGATE-PALMOLIVE	$1,219,000	–	15,205	–	0.14%	–
EOG	New	EOG RESOURCES	$1,059,000	–	9,592	–	0.12%	–
XOM	New	EXXON MOBIL	$1,053,000	–	12,293	–	0.12%	–
RGEN	New	REPLIGEN CORP	$998,000	–	6,143	–	0.11%	–
JPM	New	JPMORGAN CHASE	$959,000	–	8,516	–	0.11%	–
IDXX	New	IDEXX CORP	$914,000	–	2,605	–	0.10%	–
CP	New	CANADIAN PACIFIC RAILWAYLTD	$863,000	–	12,350	–	0.10%	–
DLR	New	DIGITAL REALTY	$854,000	–	6,574	–	0.10%	–
ADBE	New	ADOBE SYS	$850,000	–	2,323	–	0.10%	–
MTD	New	METTLER TOLEDO	$841,000	–	732	–	0.10%	–
SYK	New	STRYKER CORP	$845,000	–	4,250	–	0.10%	–
KO	New	COCA COLA	$759,000	–	12,066	–	0.09%	–
VRTX	New	VERTEX PHARMACEUTICALS	$713,000	–	2,531	–	0.08%	–
SYY	New	SYSCO	$704,000	–	8,312	–	0.08%	–
ITW	New	ILLINOIS TOOL WORKS	$697,000	–	3,825	–	0.08%	–
COST	New	COSTCO WHOLESALE	$692,000	–	1,444	–	0.08%	–
MMM	New	3M	$687,000	–	5,306	–	0.08%	–
	New	VANGUARD DIVIDEND GROWTHequity mutual fu	$669,000	–	19,781	–	0.08%	–
	New	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$662,000	–	10,620	–	0.08%	–
SPY	New	SPDR S&P 500 ETF	$649,000	–	1,720	–	0.07%	–
	New	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$639,000	–	6,703	–	0.07%	–
BMY	New	BRISTOL-MYERS SQUIBB	$622,000	–	8,081	–	0.07%	–
	New	PRIMECAP ODYSSEY AGGRESSIVE GRequity mutual fu	$617,000	–	16,000	–	0.07%	–
TD	New	TORONTO DOMINION BANK	$586,000	–	8,934	–	0.07%	–
GOOG	New	ALPHABET INC CL C	$552,000	–	252	–	0.06%	–
GIS	New	GENERAL MILLS	$506,000	–	6,711	–	0.06%	–
CB	New	CHUBB LIMITED	$508,000	–	2,585	–	0.06%	–
V	New	VISA	$514,000	–	2,609	–	0.06%	–
CSCO	New	CISCO SYS INC	$499,000	–	11,703	–	0.06%	–
RY	New	ROYAL BANK CANADA	$490,000	–	5,065	–	0.06%	–
VZ	New	VERIZON COMMUNICATIONS	$492,000	–	9,698	–	0.06%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$464,000	–	7,480	–	0.05%	–
IBM	New	INTL BUSINESS MACH	$441,000	–	3,124	–	0.05%	–
PM	New	PHILIP MORRIS	$425,000	–	4,300	–	0.05%	–
VTV	New	VANGUARD VALUE ETF	$389,000	–	2,950	–	0.04%	–
FB	New	META PLATFORMS INC	$391,000	–	2,425	–	0.04%	–
BNS	New	BANK OF NOVA SCOTIA	$368,000	–	6,210	–	0.04%	–
MKC	New	MCCORMICK & CO	$332,000	–	3,990	–	0.04%	–
DRI	New	DARDEN RESTAURANTS	$329,000	–	2,910	–	0.04%	–
CRM	New	SALESFORCE.COM	$323,000	–	1,960	–	0.04%	–
SBGSY	New	SCHNEIDER ELEC SA ADR	$306,000	–	12,970	–	0.04%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION	$296,000	–	2,065	–	0.03%	–
DE	New	DEERE & CO	$286,000	–	956	–	0.03%	–
APD	New	AIR PRODUCTS & CHEM	$289,000	–	1,200	–	0.03%	–
TXN	New	TEXAS INSTRUMENTS	$286,000	–	1,860	–	0.03%	–
DCI	New	DONALDSON INC	$284,000	–	5,900	–	0.03%	–
SIX	New	SIX FLAGS ENTERTAINMENT	$284,000	–	13,110	–	0.03%	–
AZO	New	AUTO ZONE	$269,000	–	125	–	0.03%	–
QUAL	New	ISHARES EDGE MSCI USA QUALITY	$274,000	–	2,450	–	0.03%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$254,000	–	6,216	–	0.03%	–
	New	MATTHEWS ASIA DIVIDEND FUNDequity mutual fu	$257,000	–	17,838	–	0.03%	–
IVV	New	ISHARES S&P 500	$242,000	–	639	–	0.03%	–
IWB	New	ISHARES RUSSELL 1000	$244,000	–	1,175	–	0.03%	–
TSLA	New	TESLA MOTORS	$242,000	–	360	–	0.03%	–
MO	New	ALTRIA GROUP	$250,000	–	5,990	–	0.03%	–
	New	NESTLE SA	$233,000	–	2,000	–	0.03%	–
AON	New	AON PLC	$229,000	–	850	–	0.03%	–
T	New	AT&T INC.	$228,000	–	10,887	–	0.03%	–
	New	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$222,000	–	2,625	–	0.02%	–
DFUS	New	DEMENSIONAL US EQUITY ETF	$224,000	–	5,500	–	0.02%	–
SO	New	SOUTHERN CO	$221,000	–	3,100	–	0.02%	–
DEO	New	DIAGEO PLC SPSD ADR	$209,000	–	1,200	–	0.02%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
BEAM	Exit	BEAM THERAPEUTICS	$0	–	-2,395	–	-0.02%	–
ISRG	Exit	INTUITIVE SURGICAL	$0	–	-218	–	-0.02%	–
	Exit	HARDING LOEVNER FUND INC INTERequity mutual fu	$0	–	-7,439	–	-0.02%	–
IWV	Exit	ISHARES RUSSELL 3000	$0	–	-900	–	-0.02%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-1,650	–	-0.02%	–
ZTS	Exit	ZOETIS INC	$0	–	-1,168	–	-0.02%	–
DEO	Exit	DIAGEO PLC SPSD ADR	$0	–	-1,235	–	-0.02%	–
	Exit	NESTLE SA	$0	–	-2,000	–	-0.02%	–
	Exit	WCM FOCUSED INTERNATIONAL GROWequity mutual fu	$0	–	-8,761	–	-0.02%	–
CMCSA	Exit	COMCAST CORP NEW CL A	$0	–	-4,360	–	-0.02%	–
	Exit	ADVISERS INVT TR JOHCM INTL SLequity mutual fu	$0	–	-8,058	–	-0.02%	–
TSLA	Exit	TESLA MOTORS	$0	–	-325	–	-0.02%	–
VRTX	Exit	VERTEX PHARMACEUTICALS	$0	–	-1,421	–	-0.03%	–
TGT	Exit	TARGET CORP	$0	–	-1,110	–	-0.03%	–
AON	Exit	AON PLC	$0	–	-900	–	-0.03%	–
	Exit	GENERAL ELECTRIC	$0	–	-2,549	–	-0.03%	–
SBUX	Exit	STARBUCKS	$0	–	-2,398	–	-0.03%	–
MDT	Exit	MEDTRONIC	$0	–	-2,252	–	-0.03%	–
BLK	Exit	BLACKROCK INC	$0	–	-329	–	-0.03%	–
	Exit	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$0	–	-1,703	–	-0.03%	–
DE	Exit	DEERE & CO	$0	–	-818	–	-0.03%	–
MO	Exit	ALTRIA GROUP	$0	–	-5,990	–	-0.03%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-1,175	–	-0.03%	–
	Exit	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$0	–	-2,800	–	-0.03%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-1,100	–	-0.03%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,263	–	-0.03%	–
QUAL	Exit	ISHARES EDGE MSCI USA QUALITY	$0	–	-2,450	–	-0.03%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-1,275	–	-0.03%	–
	Exit	VANGUARD GROWTH INDEX FD ADMIRequity mutual fu	$0	–	-2,200	–	-0.03%	–
T	Exit	AT&T INC.	$0	–	-12,956	–	-0.04%	–
DCI	Exit	DONALDSON INC	$0	–	-6,050	–	-0.04%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-1,800	–	-0.04%	–
GIS	Exit	GENERAL MILLS	$0	–	-6,220	–	-0.04%	–
BNS	Exit	BANK OF NOVA SCOTIA	$0	–	-6,260	–	-0.04%	–
AZO	Exit	AUTO ZONE	$0	–	-225	–	-0.04%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION	$0	–	-2,498	–	-0.04%	–
MKC	Exit	MCCORMICK & CO	$0	–	-4,840	–	-0.04%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-1,735	–	-0.04%	–
VTV	Exit	VANGUARD VALUE ETF	$0	–	-3,069	–	-0.04%	–
PM	Exit	PHILIP MORRIS	$0	–	-4,550	–	-0.04%	–
DRI	Exit	DARDEN RESTAURANTS	$0	–	-3,030	–	-0.05%	–
MCO	Exit	MOODYS CORPORATION	$0	–	-1,300	–	-0.05%	–
IVV	Exit	ISHARES S&P 500	$0	–	-1,115	–	-0.05%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-1,130	–	-0.05%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-3,624	–	-0.05%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-1,114	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA	$0	–	-5,100	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL INC	$0	–	-8,797	–	-0.05%	–
CB	Exit	CHUBB LIMITED	$0	–	-3,160	–	-0.06%	–
DFUS	Exit	DEMENSIONAL US EQUITY ETF	$0	–	-11,900	–	-0.06%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-11,447	–	-0.06%	–
ADBE	Exit	ADOBE SYS	$0	–	-1,019	–	-0.06%	–
CRM	Exit	SALESFORCE.COM	$0	–	-2,150	–	-0.06%	–
	Exit	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$0	–	-5,500	–	-0.06%	–
XOM	Exit	EXXON MOBIL	$0	–	-10,252	–	-0.06%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-9,355	–	-0.06%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-12,012	–	-0.07%	–
CP	Exit	CANADIAN PACIFIC RAILWAYLTD	$0	–	-9,995	–	-0.07%	–
	Exit	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$0	–	-9,944	–	-0.07%	–
FB	Exit	FACEBOOK INC	$0	–	-2,047	–	-0.07%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-16,390	–	-0.07%	–
V	Exit	VISA	$0	–	-3,330	–	-0.08%	–
SYY	Exit	SYSCO	$0	–	-9,423	–	-0.08%	–
KO	Exit	COCA COLA	$0	–	-14,686	–	-0.08%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-297	–	-0.08%	–
APTV	Exit	APTIV PLC	$0	–	-5,755	–	-0.09%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-4,172	–	-0.09%	–
AAGIY	Exit	AIA GROUP LTD SPON ADR EA REPR	$0	–	-18,889	–	-0.09%	–
PFE	Exit	PFIZER	$0	–	-23,092	–	-0.10%	–
EOG	Exit	EOG RESOURCES	$0	–	-13,281	–	-0.11%	–
MTD	Exit	METTLER TOLEDO	$0	–	-805	–	-0.11%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-19,370	–	-0.12%	–
SYK	Exit	STRYKER CORP	$0	–	-4,394	–	-0.12%	–
CSCO	Exit	CISCO SYS INC	$0	–	-21,689	–	-0.12%	–
MMM	Exit	3M	$0	–	-7,233	–	-0.13%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-17,290	–	-0.13%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-12,149	–	-0.14%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-9,168	–	-0.15%	–
APH	Exit	AMPHENOL	$0	–	-21,299	–	-0.16%	–
PEP	Exit	PEPSICO	$0	–	-10,552	–	-0.16%	–
MRK	Exit	MERCK	$0	–	-21,046	–	-0.16%	–
	Exit	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$0	–	-99,506	–	-0.18%	–
DLR	Exit	DIGITAL REALTY	$0	–	-12,574	–	-0.18%	–
IDXX	Exit	IDEXX CORP	$0	–	-2,943	–	-0.18%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-112,780	–	-0.19%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-7,555	–	-0.21%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-54,038	–	-0.22%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-27,365	–	-0.22%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-54,672	–	-0.26%	–
WMT	Exit	WAL-MART STORES	$0	–	-19,357	–	-0.27%	–
	Exit	WALTHAUSEN FOCUSED SMALL CAP Vequity mutual fu	$0	–	-200,519	–	-0.29%	–
ECL	Exit	ECOLAB INC	$0	–	-13,756	–	-0.29%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-39,253	–	-0.33%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-5,782	–	-0.33%	–
AMT	Exit	AMERICAN TOWER	$0	–	-13,424	–	-0.36%	–
ABBV	Exit	ABBVIE	$0	–	-38,683	–	-0.42%	–
UNP	Exit	UNION PACIFIC	$0	–	-27,090	–	-0.54%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-130,830	–	-0.60%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-96,725	–	-0.67%	–
NVDA	Exit	NVIDIA CORP	$0	–	-37,588	–	-0.79%	–
INTC	Exit	INTEL CORP	$0	–	-156,058	–	-0.84%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-62,691	–	-0.95%	–
CVX	Exit	CHEVRON	$0	–	-94,191	–	-0.96%	–
NTAP	Exit	NETAPP	$0	–	-134,250	–	-1.22%	–
HON	Exit	HONEYWELL INTL	$0	–	-60,374	–	-1.29%	–
	Exit	ORSTED A S	$0	–	-105,285	–	-1.40%	–
CVS	Exit	CVS HEALTH	$0	–	-182,713	–	-1.57%	–
UNH	Exit	UNITED HEALTH GROUP	$0	–	-42,230	–	-1.67%	–
ILMN	Exit	ILLUMINA	$0	–	-41,576	–	-1.70%	–
TJX	Exit	TJX COS	$0	–	-257,310	–	-1.72%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-120,278	–	-1.76%	–
RDSMY	Exit	KONINKLIJKE DSM NV	$0	–	-353,581	–	-1.78%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-220,431	–	-1.82%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-216,521	–	-1.88%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-344,495	–	-1.89%	–
BDX	Exit	BECTON DICKINSON	$0	–	-76,141	–	-1.89%	–
XYL	Exit	XYLEM INC	$0	–	-152,015	–	-1.90%	–
ATR	Exit	APTARGROUP	$0	–	-185,526	–	-2.24%	–
FISV	Exit	FISERV	$0	–	-231,579	–	-2.54%	–
XLNX	Exit	XILINX	$0	–	-170,297	–	-2.60%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-88,616	–	-2.63%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-218,920	–	-2.66%	–
DIS	Exit	DISNEY	$0	–	-156,381	–	-2.67%	–
HD	Exit	HOME DEPOT	$0	–	-81,117	–	-2.69%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-193,705	–	-2.74%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-169,187	–	-2.76%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-108,938	–	-2.86%	–
AMZN	Exit	AMAZON.COM	$0	–	-8,795	–	-2.92%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-162,447	–	-3.28%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-283,253	–	-3.31%	–
MA	Exit	MASTERCARD	$0	–	-95,364	–	-3.35%	–
ABT	Exit	ABBOTT LABS	$0	–	-284,895	–	-3.40%	–
ADI	Exit	ANALOG DEVICES	$0	–	-212,059	–	-3.59%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-129,727	–	-3.69%	–
DHR	Exit	DANAHER CORP	$0	–	-130,579	–	-4.02%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-15,881	–	-4.29%	–
AAPL	Exit	APPLE INC	$0	–	-304,289	–	-4.35%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$43,057,000	+2.2%	304,289	-1.0%	4.35%	+2.4%
GOOGL	Sell	ALPHABET INC CL A	$42,458,000	+1.3%	15,881	-7.5%	4.29%	+1.5%
DHR	Sell	DANAHER CORP	$39,754,000	+5.7%	130,579	-6.8%	4.02%	+5.9%
MSFT	Sell	MICROSOFT CORP	$36,573,000	-1.3%	129,727	-5.1%	3.69%	-1.1%
ADI	Buy	ANALOG DEVICES	$35,516,000	-1.0%	212,059	+1.7%	3.59%	-0.9%
ABT	Buy	ABBOTT LABS	$33,655,000	+3.2%	284,895	+1.3%	3.40%	+3.4%
MA	Buy	MASTERCARD	$33,156,000	-2.4%	95,364	+2.5%	3.35%	-2.2%
CNI	Buy	CANADIAN NATL RAILWAY	$32,758,000	+13.3%	283,253	+3.4%	3.31%	+13.5%
ADP	Buy	AUTOMATIC DATA PROCESSING	$32,476,000	+2.4%	162,447	+1.7%	3.28%	+2.6%
AMZN	Buy	AMAZON.COM	$28,894,000	-3.3%	8,795	+1.2%	2.92%	-3.2%
PYPL	Sell	PAYPAL HOLDINGS	$28,347,000	-13.4%	108,938	-3.0%	2.86%	-13.2%
JNJ	Buy	JOHNSON & JOHNSON	$27,324,000	-0.8%	169,187	+1.2%	2.76%	-0.6%
PG	Buy	PROCTER & GAMBLE	$27,080,000	+7.1%	193,705	+3.4%	2.74%	+7.3%
HD	Buy	HOME DEPOT	$26,627,000	+3.0%	81,117	+0.1%	2.69%	+3.2%
DIS	Buy	DISNEY	$26,455,000	-1.9%	156,381	+2.0%	2.67%	-1.7%
NSRGY	Buy	NESTLE SA ADR	$26,316,000	-0.6%	218,920	+3.1%	2.66%	-0.4%
ROK	Buy	ROCKWELL AUTOMATION	$26,057,000	+3.0%	88,616	+0.1%	2.63%	+3.2%
XLNX	Buy	XILINX	$25,713,000	+4.9%	170,297	+0.5%	2.60%	+5.1%
FISV	Buy	FISERV	$25,126,000	+4.5%	231,579	+2.9%	2.54%	+4.7%
ATR	Buy	APTARGROUP	$22,143,000	-12.1%	185,526	+3.7%	2.24%	-12.0%
XYL	Buy	XYLEM INC	$18,801,000	+3.9%	152,015	+0.8%	1.90%	+4.1%
BDX	Buy	BECTON DICKINSON	$18,717,000	+5.3%	76,141	+4.2%	1.89%	+5.5%
UL	Buy	UNILEVER PLC NEW ADR	$18,679,000	-5.2%	344,495	+2.2%	1.89%	-5.0%
RTX	Buy	RAYTHEON TECHNOLOGIES	$18,612,000	+7.9%	216,521	+7.1%	1.88%	+8.1%
NVS	Sell	NOVARTIS AG ADR	$18,027,000	-12.5%	220,431	-2.4%	1.82%	-12.3%
RDSMY	Buy	KONINKLIJKE DSM NV	$17,672,000	+33.9%	353,581	+25.3%	1.78%	+34.1%
NKE	Buy	NIKE INC CLASS B	$17,468,000	-1.6%	120,278	+4.7%	1.76%	-1.4%
TJX	Buy	TJX COS	$16,977,000	+8.0%	257,310	+10.4%	1.72%	+8.3%
ILMN	Sell	ILLUMINA	$16,864,000	-15.2%	41,576	-1.0%	1.70%	-15.0%
UNH	Buy	UNITED HEALTH GROUP	$16,501,000	-1.2%	42,230	+1.2%	1.67%	-1.0%
CVS	Buy	CVS HEALTH	$15,505,000	+2.9%	182,713	+1.2%	1.57%	+3.1%
	Buy	ORSTED A S	$13,879,000	-5.7%	105,285	+0.2%	1.40%	-5.5%
HON	Buy	HONEYWELL INTL	$12,816,000	+19.0%	60,374	+23.0%	1.29%	+19.2%
NTAP	Sell	NETAPP	$12,050,000	+0.7%	134,250	-8.2%	1.22%	+0.9%
CVX	Buy	CHEVRON	$9,556,000	-0.8%	94,191	+2.4%	0.96%	-0.6%
WM	Buy	WASTE MANAGEMENT INC	$9,364,000	+8.0%	62,691	+1.3%	0.95%	+8.2%
INTC	Sell	INTEL CORP	$8,315,000	-7.0%	156,058	-2.0%	0.84%	-6.9%
NVDA	Buy	NVIDIA CORP	$7,787,000	-9.2%	37,588	+250.5%	0.79%	-9.1%
	Sell	NOVOZYMES A S DKK 2.0	$6,609,000	-34.0%	96,725	-27.3%	0.67%	-33.8%
RHHBY	Sell	ROCHE HLDG LTD ADR	$5,949,000	-4.2%	130,830	-1.0%	0.60%	-4.0%
ABBV	Sell	ABBVIE	$4,173,000	-4.4%	38,683	-0.2%	0.42%	-4.3%
AMT	Buy	AMERICAN TOWER	$3,563,000	+0.1%	13,424	+1.9%	0.36%	+0.3%
TMO	Buy	THERMO FISHER SCIENTIFIC	$3,303,000	+14.1%	5,782	+0.8%	0.33%	+14.4%
CHD	Sell	CHURCH & DWIGHT	$3,241,000	-3.8%	39,253	-0.7%	0.33%	-3.8%
ECL	Buy	ECOLAB INC	$2,870,000	+1.5%	13,756	+0.2%	0.29%	+1.8%
WMT	Buy	WAL-MART STORES	$2,698,000	+2.9%	19,357	+4.1%	0.27%	+3.0%
NEE	Buy	NEXTERA ENERGY	$2,149,000	+17.0%	27,365	+9.2%	0.22%	+17.3%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$2,062,000	-2.8%	7,555	-1.0%	0.21%	-2.8%
IDXX	Sell	IDEXX CORP	$1,830,000	-16.0%	2,943	-14.7%	0.18%	-15.9%
DLR	Sell	DIGITAL REALTY	$1,816,000	-27.2%	12,574	-24.1%	0.18%	-27.1%
PEP	Buy	PEPSICO	$1,587,000	+1.6%	10,552	+0.1%	0.16%	+1.9%
MRK	Sell	MERCK	$1,581,000	-6.4%	21,046	-3.1%	0.16%	-5.9%
APH	Sell	AMPHENOL	$1,560,000	+2.4%	21,299	-4.3%	0.16%	+2.6%
JPM	Sell	JPMORGAN CHASE	$1,501,000	+4.6%	9,168	-0.6%	0.15%	+4.8%
EW	New	EDWARDS LIFESCIENCES	$1,375,000	–	12,149	–	0.14%	–
CL	Sell	COLGATE-PALMOLIVE	$1,307,000	-10.3%	17,290	-3.5%	0.13%	-10.2%
MMM	Sell	3M	$1,269,000	-22.1%	7,233	-11.9%	0.13%	-22.0%
CSCO	Sell	CISCO SYS INC	$1,181,000	-12.8%	21,689	-15.2%	0.12%	-13.1%
SYK	Sell	STRYKER CORP	$1,159,000	-12.4%	4,394	-13.7%	0.12%	-12.0%
BMY	Sell	BRISTOL-MYERS SQUIBB	$1,146,000	-15.6%	19,370	-4.7%	0.12%	-15.3%
MTD	Sell	METTLER TOLEDO	$1,109,000	-7.9%	805	-7.4%	0.11%	-7.4%
EOG	Sell	EOG RESOURCES	$1,066,000	-14.8%	13,281	-11.4%	0.11%	-14.3%
PFE	Sell	PFIZER	$993,000	+8.6%	23,092	-1.0%	0.10%	+8.7%
AAGIY	Sell	AIA GROUP LTD SPON ADR EA REPR	$869,000	-47.0%	18,889	-42.7%	0.09%	-46.7%
APTV	Buy	APTIV PLC	$857,000	+62.3%	5,755	+71.4%	0.09%	+64.2%
ITW	Sell	ILLINOIS TOOL WORKS	$862,000	-8.8%	4,172	-1.3%	0.09%	-8.4%
GOOG	Sell	ALPHABET INC CL C	$793,000	-14.2%	297	-19.3%	0.08%	-14.0%
KO	Sell	COCA COLA	$771,000	-5.6%	14,686	-2.7%	0.08%	-4.9%
SYY	Buy	SYSCO	$740,000	+4.5%	9,423	+3.4%	0.08%	+5.6%
V	Sell	VISA	$742,000	-7.7%	3,330	-3.2%	0.08%	-7.4%
FB	Sell	FACEBOOK INC	$695,000	-6.2%	2,047	-3.9%	0.07%	-6.7%
	Buy	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$671,000	+0.4%	9,944	+0.0%	0.07%	+1.5%
CP	Sell	CANADIAN PACIFIC RAILWAYLTD	$650,000	-16.7%	9,995	-1.5%	0.07%	-16.5%
VZ	Sell	VERIZON COMMUNICATIONS	$649,000	-8.2%	12,012	-4.7%	0.07%	-7.0%
TD	Sell	TORONTO DOMINION BANK	$619,000	-7.5%	9,355	-2.1%	0.06%	-6.0%
XOM	Sell	EXXON MOBIL	$603,000	-62.6%	10,252	-59.9%	0.06%	-62.6%
ADBE	Buy	ADOBE SYS	$587,000	+6.1%	1,019	+7.9%	0.06%	+5.4%
CRM	Buy	SALESFORCE.COM	$583,000	+11.7%	2,150	+0.7%	0.06%	+11.3%
VEA	Sell	VANGUARD FTSE DEVELOPED MARKET	$578,000	-4.1%	11,447	-2.2%	0.06%	-4.9%
DFUS	Sell	DEMENSIONAL US EQUITY ETF	$561,000	-36.3%	11,900	-36.4%	0.06%	-36.0%
CB	Sell	CHUBB LIMITED	$548,000	+7.7%	3,160	-1.4%	0.06%	+7.8%
COST	Buy	COSTCO WHOLESALE	$501,000	+24.9%	1,114	+9.9%	0.05%	+27.5%
RY	Sell	ROYAL BANK CANADA	$507,000	-5.1%	5,100	-3.3%	0.05%	-5.6%
SPY	Sell	SPDR S&P 500 ETF	$485,000	-36.4%	1,130	-36.5%	0.05%	-36.4%
IVV	Sell	ISHARES S&P 500	$481,000	-6.2%	1,115	-6.6%	0.05%	-5.8%
MCO	New	MOODYS CORPORATION	$462,000	–	1,300	–	0.05%	–
DRI	Sell	DARDEN RESTAURANTS	$459,000	-2.5%	3,030	-6.0%	0.05%	-2.1%
NSC	Buy	NORFOLK SOUTHERN	$415,000	+2.0%	1,735	+13.0%	0.04%	+2.4%
MKC	Sell	MCCORMICK & CO	$392,000	-10.1%	4,840	-2.0%	0.04%	-9.1%
BNS	Sell	BANK OF NOVA SCOTIA	$385,000	-9.6%	6,260	-4.4%	0.04%	-9.3%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION	$384,000	-11.5%	2,498	-10.9%	0.04%	-11.4%
GIS	Sell	GENERAL MILLS	$372,000	-10.1%	6,220	-8.5%	0.04%	-9.5%
T	Sell	AT&T INC.	$350,000	-27.1%	12,956	-22.3%	0.04%	-27.1%
TXN	Sell	TEXAS INSTRUMENTS	$346,000	-3.9%	1,800	-3.8%	0.04%	-2.8%
DCI	Sell	DONALDSON INC	$347,000	-11.3%	6,050	-1.6%	0.04%	-10.3%
	Sell	VANGUARD GROWTH INDEX FD ADMIRequity mutual fu	$329,000	-8.4%	2,200	-9.6%	0.03%	-8.3%
APD	Sell	AIR PRODUCTS & CHEM	$327,000	-14.2%	1,275	-3.8%	0.03%	-13.2%
MCD	Sell	MCDONALDS CORP	$305,000	-3.2%	1,263	-7.3%	0.03%	-3.1%
SHW	Sell	SHERWIN WILLIAMS	$308,000	-18.1%	1,100	-20.2%	0.03%	-18.4%
MO	Sell	ALTRIA GROUP	$273,000	-23.7%	5,990	-20.3%	0.03%	-22.2%
BLK	Buy	BLACKROCK INC	$276,000	+17.4%	329	+22.3%	0.03%	+16.7%
DE	Sell	DEERE & CO	$274,000	-6.8%	818	-1.8%	0.03%	-6.7%
SBUX	Sell	STARBUCKS	$265,000	-1.5%	2,398	-0.5%	0.03%	0.0%
	New	GENERAL ELECTRIC	$263,000	–	2,549	–	0.03%	–
VRTX	New	VERTEX PHARMACEUTICALS	$258,000	–	1,421	–	0.03%	–
	New	ADVISERS INVT TR JOHCM INTL SLequity mutual fu	$250,000	–	8,058	–	0.02%	–
	New	WCM FOCUSED INTERNATIONAL GROWequity mutual fu	$240,000	–	8,761	–	0.02%	–
ZTS	New	ZOETIS INC	$227,000	–	1,168	–	0.02%	–
IWV	Sell	ISHARES RUSSELL 3000	$229,000	-18.8%	900	-18.2%	0.02%	-17.9%
UHS	Sell	UNIVERSAL HEALTH SERVICES CL B	$228,000	-10.9%	1,650	-5.7%	0.02%	-11.5%
ISRG	Sell	INTUITIVE SURGICAL	$217,000	+7.4%	218	-0.9%	0.02%	+10.0%
BEAM	Buy	BEAM THERAPEUTICS	$208,000	-18.1%	2,395	+21.6%	0.02%	-19.2%
GPC	Exit	GENUINE PARTS	$0	–	-1,675	–	-0.02%	–
QCOM	Exit	QUALCOMM	$0	–	-1,459	–	-0.02%	–
STZ	Exit	CONSTELLATION BRANDS	$0	–	-933	–	-0.02%	–
	Exit	FIDELITY 500 INDEX FUND FUNDequity mutual fu	$0	–	-1,484	–	-0.02%	–
	Exit	INVESCO AMERICAN VALUE FUNDequity mutual fu	$0	–	-5,300	–	-0.02%	–
TFX	Exit	TELEFLEX	$0	–	-565	–	-0.02%	–
	Exit	DFA US LARGE CAP VALUE Iequity mutual fu	$0	–	-5,000	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-22,423	–	-0.03%	–
ORA	Exit	ORMAT TECHNOLOGIES	$0	–	-4,760	–	-0.03%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-4,490	–	-0.03%	–

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$42,114,000	–	307,493	–	4.25%	–
GOOGL	New	ALPHABET INC CL A	$41,901,000	–	17,160	–	4.22%	–
DHR	New	DANAHER CORP	$37,596,000	–	140,094	–	3.79%	–
MSFT	New	MICROSOFT CORP	$37,045,000	–	136,750	–	3.74%	–
ADI	New	ANALOG DEVICES	$35,889,000	–	208,462	–	3.62%	–
MA	New	MASTERCARD	$33,981,000	–	93,076	–	3.43%	–
PYPL	New	PAYPAL HOLDINGS	$32,726,000	–	112,274	–	3.30%	–
ABT	New	ABBOTT LABS	$32,611,000	–	281,297	–	3.29%	–
ADP	New	AUTOMATIC DATA PROCESSING	$31,714,000	–	159,670	–	3.20%	–
AMZN	New	AMAZON.COM	$29,893,000	–	8,689	–	3.01%	–
CNI	New	CANADIAN NATL RAILWAY	$28,916,000	–	274,032	–	2.92%	–
JNJ	New	JOHNSON & JOHNSON	$27,539,000	–	167,166	–	2.78%	–
DIS	New	DISNEY	$26,958,000	–	153,371	–	2.72%	–
NSRGY	New	NESTLE SA ADR	$26,483,000	–	212,307	–	2.67%	–
HD	New	HOME DEPOT	$25,847,000	–	81,053	–	2.61%	–
ROK	New	ROCKWELL AUTOMATION	$25,308,000	–	88,484	–	2.55%	–
PG	New	PROCTER & GAMBLE	$25,284,000	–	187,387	–	2.55%	–
ATR	New	APTARGROUP	$25,191,000	–	178,864	–	2.54%	–
XLNX	New	XILINX	$24,505,000	–	169,419	–	2.47%	–
FISV	New	FISERV	$24,049,000	–	224,992	–	2.42%	–
NVS	New	NOVARTIS AG ADR	$20,603,000	–	225,815	–	2.08%	–
ILMN	New	ILLUMINA	$19,883,000	–	42,017	–	2.00%	–
UL	New	UNILEVER PLC NEW ADR	$19,710,000	–	336,925	–	1.99%	–
XYL	New	XYLEM INC	$18,099,000	–	150,873	–	1.82%	–
BDX	New	BECTON DICKINSON	$17,770,000	–	73,069	–	1.79%	–
NKE	New	NIKE INC CLASS B	$17,746,000	–	114,865	–	1.79%	–
RTX	New	RAYTHEON TECHNOLOGIES	$17,252,000	–	202,229	–	1.74%	–
UNH	New	UNITED HEALTH GROUP	$16,707,000	–	41,721	–	1.68%	–
TJX	New	TJX COS	$15,716,000	–	233,111	–	1.58%	–
CVS	New	CVS HEALTH	$15,067,000	–	180,578	–	1.52%	–
	New	ORSTED A S	$14,717,000	–	105,115	–	1.48%	–
RDSMY	New	KONINKLIJKE DSM NV	$13,202,000	–	282,213	–	1.33%	–
NTAP	New	NETAPP	$11,966,000	–	146,250	–	1.21%	–
HON	New	HONEYWELL INTL	$10,770,000	–	49,101	–	1.09%	–
	New	NOVOZYMES A S DKK 2.0	$10,012,000	–	133,123	–	1.01%	–
CVX	New	CHEVRON	$9,636,000	–	92,002	–	0.97%	–
INTC	New	INTEL CORP	$8,944,000	–	159,321	–	0.90%	–
WM	New	WASTE MANAGEMENT INC	$8,674,000	–	61,906	–	0.87%	–
NVDA	New	NVIDIA CORP	$8,579,000	–	10,723	–	0.86%	–
RHHBY	New	ROCHE HLDG LTD ADR	$6,208,000	–	132,105	–	0.63%	–
UNP	New	UNION PACIFIC	$5,958,000	–	27,090	–	0.60%	–
ABBV	New	ABBVIE	$4,367,000	–	38,772	–	0.44%	–
AMT	New	AMERICAN TOWER	$3,560,000	–	13,179	–	0.36%	–
CHD	New	CHURCH & DWIGHT	$3,370,000	–	39,546	–	0.34%	–
TMO	New	THERMO FISHER SCIENTIFIC	$2,894,000	–	5,737	–	0.29%	–
	New	WALTHAUSEN FOCUSED SMALL CAP Vequity mutual fu	$2,833,000	–	200,519	–	0.29%	–
ECL	New	ECOLAB INC	$2,828,000	–	13,728	–	0.28%	–
WMT	New	WAL-MART STORES	$2,623,000	–	18,602	–	0.26%	–
DLR	New	DIGITAL REALTY	$2,494,000	–	16,574	–	0.25%	–
IDXX	New	IDEXX CORP	$2,179,000	–	3,451	–	0.22%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$2,143,000	–	54,672	–	0.22%	–
	New	FPA CRESCENT FUNDequity mutual fu	$2,145,000	–	54,038	–	0.22%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$2,121,000	–	7,630	–	0.21%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,874,000	–	112,780	–	0.19%	–
NEE	New	NEXTERA ENERGY	$1,837,000	–	25,067	–	0.18%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,735,000	–	99,506	–	0.18%	–
MRK	New	MERCK	$1,689,000	–	21,721	–	0.17%	–
AAGIY	New	AIA GROUP LTD SPON ADR EA REPR	$1,639,000	–	32,953	–	0.16%	–
MMM	New	3M	$1,630,000	–	8,208	–	0.16%	–
XOM	New	EXXON MOBIL	$1,613,000	–	25,574	–	0.16%	–
PEP	New	PEPSICO	$1,562,000	–	10,543	–	0.16%	–
APH	New	AMPHENOL	$1,523,000	–	22,260	–	0.15%	–
CL	New	COLGATE-PALMOLIVE	$1,457,000	–	17,910	–	0.15%	–
JPM	New	JPMORGAN CHASE	$1,435,000	–	9,225	–	0.14%	–
CSCO	New	CISCO SYS INC	$1,355,000	–	25,569	–	0.14%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,358,000	–	20,325	–	0.14%	–
SYK	New	STRYKER CORP	$1,323,000	–	5,094	–	0.13%	–
EOG	New	EOG RESOURCES	$1,251,000	–	14,993	–	0.13%	–
MTD	New	METTLER TOLEDO	$1,204,000	–	869	–	0.12%	–
ITW	New	ILLINOIS TOOL WORKS	$945,000	–	4,225	–	0.10%	–
GOOG	New	ALPHABET INC CL C	$924,000	–	368	–	0.09%	–
PFE	New	PFIZER	$914,000	–	23,332	–	0.09%	–
DFUS	New	DEMENSIONAL US EQUITY ETF	$881,000	–	18,700	–	0.09%	–
KO	New	COCA COLA	$817,000	–	15,090	–	0.08%	–
V	New	VISA	$804,000	–	3,440	–	0.08%	–
CP	New	CANADIAN PACIFIC RAILWAYLTD	$780,000	–	10,145	–	0.08%	–
SPY	New	SPDR S&P 500 ETF	$762,000	–	1,780	–	0.08%	–
FB	New	FACEBOOK INC	$741,000	–	2,131	–	0.08%	–
SIX	New	SIX FLAGS ENTERTAINMENT	$709,000	–	16,390	–	0.07%	–
VZ	New	VERIZON COMMUNICATIONS	$707,000	–	12,610	–	0.07%	–
SYY	New	SYSCO	$708,000	–	9,110	–	0.07%	–
TD	New	TORONTO DOMINION BANK	$669,000	–	9,555	–	0.07%	–
	New	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$668,000	–	9,941	–	0.07%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$603,000	–	11,710	–	0.06%	–
	New	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$597,000	–	5,500	–	0.06%	–
ADBE	New	ADOBE SYS	$553,000	–	944	–	0.06%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$549,000	–	8,797	–	0.06%	–
IBM	New	INTL BUSINESS MACH	$531,000	–	3,624	–	0.05%	–
RY	New	ROYAL BANK CANADA	$534,000	–	5,275	–	0.05%	–
CRM	New	SALESFORCE.COM	$522,000	–	2,135	–	0.05%	–
APTV	New	APTIV PLC	$528,000	–	3,357	–	0.05%	–
IVV	New	ISHARES S&P 500	$513,000	–	1,194	–	0.05%	–
CB	New	CHUBB LIMITED	$509,000	–	3,205	–	0.05%	–
T	New	AT&T INC.	$480,000	–	16,670	–	0.05%	–
DRI	New	DARDEN RESTAURANTS	$471,000	–	3,225	–	0.05%	–
PM	New	PHILIP MORRIS	$451,000	–	4,550	–	0.04%	–
MKC	New	MCCORMICK & CO	$436,000	–	4,940	–	0.04%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION	$434,000	–	2,803	–	0.04%	–
BNS	New	BANK OF NOVA SCOTIA	$426,000	–	6,550	–	0.04%	–
VTV	New	VANGUARD VALUE ETF	$422,000	–	3,069	–	0.04%	–
GIS	New	GENERAL MILLS	$414,000	–	6,795	–	0.04%	–
NSC	New	NORFOLK SOUTHERN	$407,000	–	1,535	–	0.04%	–
COST	New	COSTCO WHOLESALE	$401,000	–	1,014	–	0.04%	–
DCI	New	DONALDSON INC	$391,000	–	6,150	–	0.04%	–
SHW	New	SHERWIN WILLIAMS	$376,000	–	1,379	–	0.04%	–
APD	New	AIR PRODUCTS & CHEM	$381,000	–	1,325	–	0.04%	–
TXN	New	TEXAS INSTRUMENTS	$360,000	–	1,872	–	0.04%	–
	New	VANGUARD GROWTH INDEX FD ADMIRequity mutual fu	$359,000	–	2,434	–	0.04%	–
MO	New	ALTRIA GROUP	$358,000	–	7,517	–	0.04%	–
AZO	New	AUTO ZONE	$336,000	–	225	–	0.03%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$339,000	–	4,490	–	0.03%	–
QUAL	New	ISHARES EDGE MSCI USA QUALITY	$326,000	–	2,450	–	0.03%	–
ORA	New	ORMAT TECHNOLOGIES	$331,000	–	4,760	–	0.03%	–
MCD	New	MCDONALDS CORP	$315,000	–	1,363	–	0.03%	–
GE	New	GENERAL ELECTRIC	$302,000	–	22,423	–	0.03%	–
	New	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$302,000	–	2,800	–	0.03%	–
DE	New	DEERE & CO	$294,000	–	833	–	0.03%	–
IWB	New	ISHARES RUSSELL 1000	$284,000	–	1,175	–	0.03%	–
	New	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$290,000	–	1,703	–	0.03%	–
MDT	New	MEDTRONIC	$280,000	–	2,252	–	0.03%	–
IWV	New	ISHARES RUSSELL 3000	$282,000	–	1,100	–	0.03%	–
TGT	New	TARGET CORP	$268,000	–	1,110	–	0.03%	–
SBUX	New	STARBUCKS	$269,000	–	2,410	–	0.03%	–
BEAM	New	BEAM THERAPEUTICS	$254,000	–	1,970	–	0.03%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$256,000	–	1,750	–	0.03%	–
CMCSA	New	COMCAST CORP NEW CL A	$249,000	–	4,360	–	0.02%	–
	New	NESTLE SA	$249,000	–	2,000	–	0.02%	–
BLK	New	BLACKROCK INC	$235,000	–	269	–	0.02%	–
DEO	New	DIAGEO PLC SPSD ADR	$237,000	–	1,235	–	0.02%	–
	New	DFA US LARGE CAP VALUE Iequity mutual fu	$225,000	–	5,000	–	0.02%	–
	New	HARDING LOEVNER FUND INC INTERequity mutual fu	$226,000	–	7,439	–	0.02%	–
TFX	New	TELEFLEX	$227,000	–	565	–	0.02%	–
AON	New	AON PLC	$215,000	–	900	–	0.02%	–
	New	FIDELITY 500 INDEX FUND FUNDequity mutual fu	$222,000	–	1,484	–	0.02%	–
	New	INVESCO AMERICAN VALUE FUNDequity mutual fu	$220,000	–	5,300	–	0.02%	–
STZ	New	CONSTELLATION BRANDS	$218,000	–	933	–	0.02%	–
TSLA	New	TESLA MOTORS	$221,000	–	325	–	0.02%	–
GPC	New	GENUINE PARTS	$212,000	–	1,675	–	0.02%	–
QCOM	New	QUALCOMM	$209,000	–	1,459	–	0.02%	–
ISRG	New	INTUITIVE SURGICAL	$202,000	–	220	–	0.02%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
	Exit	INVESCO OPPENHEIMER STEELPATHequity mutual fu	$0	–	-10,942	–	-0.01%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.02%	–
EPD	Exit	ENTERPRISE PRODUCTS PTNR	$0	–	-11,597	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-30,440	–	-0.02%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-600	–	-0.03%	–
	Exit	NOVOZYMES A S SER B DKK2	$0	–	-3,195	–	-0.03%	–
DVY	Exit	ISHARES DOW JONES SELECT DIVID	$0	–	-2,500	–	-0.03%	–
SBUX	Exit	STARBUCKS	$0	–	-2,438	–	-0.03%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-1,175	–	-0.03%	–
AMGN	Exit	AMGEN INC	$0	–	-914	–	-0.03%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-5,589	–	-0.03%	–
MO	Exit	ALTRIA GROUP	$0	–	-5,990	–	-0.03%	–
	Exit	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$0	–	-1,703	–	-0.03%	–
	Exit	NESTLE SA	$0	–	-2,000	–	-0.03%	–
ZTS	Exit	ZOETIS INC	$0	–	-1,495	–	-0.03%	–
ACN	Exit	ACCENTURE PLC SHS	$0	–	-1,082	–	-0.03%	–
	Exit	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$0	–	-3,394	–	-0.03%	–
D	Exit	DOMINION RES INC	$0	–	-3,200	–	-0.03%	–
QUAL	Exit	ISHARES EDGE MSCI USA QUALITY	$0	–	-2,690	–	-0.04%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-775	–	-0.04%	–
BNS	Exit	BANK OF NOVA SCOTIA	$0	–	-6,825	–	-0.04%	–
DCI	Exit	DONALDSON INC	$0	–	-6,200	–	-0.04%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-2,000	–	-0.04%	–
IVV	Exit	ISHARES S&P 500	$0	–	-914	–	-0.04%	–
DRI	Exit	DARDEN RESTAURANTS	$0	–	-3,425	–	-0.04%	–
AZO	Exit	AUTO ZONE	$0	–	-300	–	-0.05%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-2,155	–	-0.05%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-1,785	–	-0.05%	–
IWV	Exit	ISHARES RUSSELL 3000	$0	–	-2,000	–	-0.05%	–
RY	Exit	ROYAL BANK CANADA	$0	–	-5,650	–	-0.05%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-3,199	–	-0.05%	–
GIS	Exit	GENERAL MILLS	$0	–	-6,885	–	-0.06%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION	$0	–	-3,353	–	-0.06%	–
DNKN	Exit	DUNKIN BRANDS GROUP	$0	–	-5,466	–	-0.06%	–
T	Exit	AT&T INC.	$0	–	-15,969	–	-0.06%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-1,550	–	-0.06%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-675	–	-0.06%	–
	Exit	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$0	–	-8,801	–	-0.06%	–
ULTA	Exit	ULTA SALON	$0	–	-2,142	–	-0.06%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-10,545	–	-0.06%	–
PM	Exit	PHILIP MORRIS	$0	–	-6,551	–	-0.06%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-370	–	-0.07%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL INC	$0	–	-9,689	–	-0.07%	–
SYY	Exit	SYSCO	$0	–	-9,212	–	-0.07%	–
MKC	Exit	MCCORMICK & CO	$0	–	-3,020	–	-0.08%	–
CRM	Exit	SALESFORCE.COM	$0	–	-2,331	–	-0.08%	–
	Exit	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$0	–	-7,125	–	-0.08%	–
ADBE	Exit	ADOBE SYS	$0	–	-1,231	–	-0.08%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-10,508	–	-0.08%	–
KO	Exit	COCA COLA	$0	–	-12,729	–	-0.08%	–
FB	Exit	FACEBOOK INC	$0	–	-2,516	–	-0.09%	–
V	Exit	VISA	$0	–	-3,339	–	-0.09%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-7,750	–	-0.09%	–
CP	Exit	CANADIAN PACIFIC RAILWAYLTD	$0	–	-2,332	–	-0.09%	–
ORA	Exit	ORMAT TECHNOLOGIES	$0	–	-12,700	–	-0.10%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-11,955	–	-0.10%	–
PFE	Exit	PFIZER	$0	–	-21,162	–	-0.10%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-4,275	–	-0.11%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-9,507	–	-0.12%	–
SYK	Exit	STRYKER CORP	$0	–	-4,543	–	-0.12%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-2,893	–	-0.13%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-3,593	–	-0.13%	–
MTD	Exit	METTLER TOLEDO	$0	–	-1,098	–	-0.14%	–
XOM	Exit	EXXON MOBIL	$0	–	-31,961	–	-0.14%	–
APH	Exit	AMPHENOL	$0	–	-12,005	–	-0.17%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-65,197	–	-0.17%	–
PEP	Exit	PEPSICO	$0	–	-10,548	–	-0.19%	–
HON	Exit	HONEYWELL INTL	$0	–	-8,943	–	-0.19%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-115,472	–	-0.19%	–
	Exit	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$0	–	-93,449	–	-0.20%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-25,072	–	-0.20%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-51,332	–	-0.21%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-7,712	–	-0.21%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-21,360	–	-0.21%	–
MRK	Exit	MERCK	$0	–	-20,673	–	-0.22%	–
IDXX	Exit	IDEXX CORP	$0	–	-4,670	–	-0.24%	–
CSCO	Exit	CISCO SYS INC	$0	–	-47,444	–	-0.24%	–
	Exit	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$0	–	-217,724	–	-0.27%	–
AAGIY	Exit	AIA GROUP LTD SPON ADR EA REPR	$0	–	-56,635	–	-0.29%	–
WMT	Exit	WAL-MART STORES	$0	–	-16,367	–	-0.30%	–
ECL	Exit	ECOLAB INC	$0	–	-12,541	–	-0.33%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-6,181	–	-0.36%	–
AMT	Exit	AMERICAN TOWER	$0	–	-12,701	–	-0.40%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-36,108	–	-0.44%	–
ABBV	Exit	ABBVIE	$0	–	-39,365	–	-0.45%	–
EOG	Exit	EOG RESOURCES	$0	–	-126,869	–	-0.59%	–
DLR	Exit	DIGITAL REALTY	$0	–	-33,374	–	-0.64%	–
UNP	Exit	UNION PACIFIC	$0	–	-26,705	–	-0.68%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-134,189	–	-0.75%	–
NVDA	Exit	NVIDIA CORP	$0	–	-11,263	–	-0.79%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-61,756	–	-0.91%	–
XYL	Exit	XYLEM INC	$0	–	-99,208	–	-1.08%	–
MMM	Exit	3M	$0	–	-53,236	–	-1.11%	–
TJX	Exit	TJX COS	$0	–	-160,371	–	-1.16%	–
CVS	Exit	CVS HEALTH	$0	–	-156,486	–	-1.19%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-74,370	–	-1.21%	–
CVX	Exit	CHEVRON	$0	–	-132,828	–	-1.24%	–
INTC	Exit	INTEL CORP	$0	–	-186,806	–	-1.26%	–
CB	Exit	CHUBB LIMITED	$0	–	-83,905	–	-1.27%	–
UNH	Exit	UNITED HEALTH GROUP	$0	–	-32,698	–	-1.32%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-182,455	–	-1.36%	–
ILMN	Exit	ILLUMINA	$0	–	-38,067	–	-1.53%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-207,692	–	-1.70%	–
BDX	Exit	BECTON DICKINSON	$0	–	-60,590	–	-1.83%	–
	Exit	ORSTED A S	$0	–	-108,185	–	-1.93%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-244,541	–	-1.96%	–
DIS	Exit	DISNEY	$0	–	-143,861	–	-2.32%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-81,113	–	-2.33%	–
XLNX	Exit	XILINX	$0	–	-171,832	–	-2.33%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-130,663	–	-2.37%	–
ATR	Exit	APTARGROUP	$0	–	-161,737	–	-2.38%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-216,672	–	-2.45%	–
FISV	Exit	FISERV	$0	–	-198,163	–	-2.66%	–
HD	Exit	HOME DEPOT	$0	–	-76,670	–	-2.77%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-157,806	–	-2.85%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-150,411	–	-2.91%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-189,432	–	-2.94%	–
ADI	Exit	ANALOG DEVICES	$0	–	-196,825	–	-2.99%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-125,490	–	-3.21%	–
AMZN	Exit	AMAZON.COM	$0	–	-8,037	–	-3.29%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-17,971	–	-3.42%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-249,525	–	-3.45%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-136,735	–	-3.74%	–
ABT	Exit	ABBOTT LABS	$0	–	-268,711	–	-3.80%	–
DHR	Exit	DANAHER CORP	$0	–	-138,916	–	-3.89%	–
MA	Exit	MASTERCARD	$0	–	-88,681	–	-3.90%	–
AAPL	Exit	APPLE INC	$0	–	-340,397	–	-5.12%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$39,421,000	+7.3%	340,397	+238.1%	5.12%	+0.4%
MA	Sell	MASTERCARD	$29,989,000	+14.3%	88,681	-0.1%	3.90%	+6.9%
DHR	Sell	DANAHER CORP	$29,913,000	+8.0%	138,916	-11.3%	3.89%	+1.0%
ABT	Buy	ABBOTT LABS	$29,244,000	+19.2%	268,711	+0.2%	3.80%	+11.5%
MSFT	Sell	MICROSOFT CORP	$28,760,000	-2.9%	136,735	-6.0%	3.74%	-9.2%
CNI	Buy	CANADIAN NATL RAILWAY	$26,564,000	+21.5%	249,525	+1.1%	3.45%	+13.6%
GOOGL	Sell	ALPHABET INC CL A	$26,338,000	+2.5%	17,971	-0.8%	3.42%	-4.1%
AMZN	Sell	AMAZON.COM	$25,308,000	+12.7%	8,037	-1.3%	3.29%	+5.3%
PYPL	Sell	PAYPAL HOLDINGS	$24,725,000	+7.7%	125,490	-4.7%	3.21%	+0.7%
ADI	Buy	ANALOG DEVICES	$22,977,000	-4.5%	196,825	+0.4%	2.99%	-10.7%
NSRGY	Buy	NESTLE SA ADR	$22,591,000	+8.4%	189,432	+0.4%	2.94%	+1.3%
JNJ	Buy	JOHNSON & JOHNSON	$22,393,000	+6.9%	150,411	+1.0%	2.91%	0.0%
PG	Buy	PROCTER & GAMBLE	$21,933,000	+16.9%	157,806	+0.6%	2.85%	+9.3%
HD	Sell	HOME DEPOT	$21,292,000	+9.6%	76,670	-1.1%	2.77%	+2.5%
FISV	Buy	FISERV	$20,421,000	+8.1%	198,163	+2.4%	2.66%	+1.1%
NVS	Buy	NOVARTIS AG ADR	$18,842,000	+0.2%	216,672	+0.7%	2.45%	-6.3%
ATR	Buy	APTARGROUP	$18,309,000	+2.4%	161,737	+1.3%	2.38%	-4.2%
ADP	Buy	AUTOMATIC DATA PROCESSING	$18,226,000	-5.4%	130,663	+1.0%	2.37%	-11.5%
XLNX	Buy	XILINX	$17,912,000	+9.4%	171,832	+3.2%	2.33%	+2.3%
ROK	Buy	ROCKWELL AUTOMATION	$17,900,000	+5.0%	81,113	+1.4%	2.33%	-1.8%
DIS	Buy	DISNEY	$17,850,000	+11.9%	143,861	+0.6%	2.32%	+4.6%
UL	Buy	UNILEVER PLC NEW ADR	$15,083,000	+12.7%	244,541	+0.2%	1.96%	+5.4%
	Sell	ORSTED A S	$14,878,000	+18.5%	108,185	-0.9%	1.93%	+10.8%
BDX	Buy	BECTON DICKINSON	$14,098,000	+1.0%	60,590	+3.9%	1.83%	-5.5%
	Buy	NOVOZYMES A S DKK 2.0	$13,048,000	+9.4%	207,692	+0.4%	1.70%	+2.3%
ILMN	Buy	ILLUMINA	$11,766,000	-15.4%	38,067	+1.3%	1.53%	-20.9%
RTX	Buy	RAYTHEON TECHNOLOGIES	$10,498,000	+17.6%	182,455	+25.9%	1.36%	+9.9%
UNH	Buy	UNITED HEALTH GROUP	$10,194,000	+29.3%	32,698	+22.3%	1.32%	+20.9%
CB	Sell	CHUBB LIMITED	$9,743,000	-27.0%	83,905	-20.4%	1.27%	-31.7%
INTC	Sell	INTEL CORP	$9,673,000	-15.9%	186,806	-2.8%	1.26%	-21.4%
CVX	Sell	CHEVRON	$9,564,000	-23.1%	132,828	-4.7%	1.24%	-28.1%
NKE	Buy	NIKE INC CLASS B	$9,336,000	+154.6%	74,370	+98.9%	1.21%	+138.0%
CVS	Buy	CVS HEALTH	$9,139,000	-8.1%	156,486	+2.3%	1.19%	-14.0%
TJX	Buy	TJX COS	$8,925,000	+108.6%	160,371	+89.5%	1.16%	+95.0%
MMM	Sell	3M	$8,527,000	-3.2%	53,236	-5.7%	1.11%	-9.5%
XYL	Buy	XYLEM INC	$8,345,000	+45.7%	99,208	+12.5%	1.08%	+36.3%
NVDA	Sell	NVIDIA CORP	$6,096,000	+28.2%	11,263	-10.0%	0.79%	+19.8%
RHHBY	Sell	ROCHE HLDG LTD ADR	$5,745,000	-1.4%	134,189	-0.1%	0.75%	-7.8%
UNP	Sell	UNION PACIFIC	$5,257,000	+16.1%	26,705	-0.3%	0.68%	+8.4%
EOG	Buy	EOG RESOURCES	$4,560,000	-28.2%	126,869	+1.2%	0.59%	-32.8%
ABBV	Buy	ABBVIE	$3,448,000	-7.9%	39,365	+3.2%	0.45%	-13.8%
CHD	Buy	CHURCH & DWIGHT	$3,384,000	+24.5%	36,108	+2.6%	0.44%	+16.4%
AMT	Buy	AMERICAN TOWER	$3,070,000	-2.7%	12,701	+4.1%	0.40%	-9.1%
TMO	Buy	THERMO FISHER SCIENTIFIC	$2,729,000	+34.0%	6,181	+10.0%	0.36%	+25.4%
ECL	Buy	ECOLAB INC	$2,506,000	+4.6%	12,541	+4.2%	0.33%	-2.1%
WMT	Buy	WAL-MART STORES	$2,290,000	+24.8%	16,367	+6.8%	0.30%	+16.9%
AAGIY	Buy	AIA GROUP LTD SPON ADR EA REPR	$2,257,000	+7.4%	56,635	+0.8%	0.29%	+0.3%
	Buy	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$2,057,000	+2.7%	217,724	+1.9%	0.27%	-4.0%
CSCO	Sell	CISCO SYS INC	$1,869,000	-26.9%	47,444	-13.4%	0.24%	-31.5%
IDXX	Sell	IDEXX CORP	$1,836,000	+15.8%	4,670	-2.7%	0.24%	+8.6%
MRK	Sell	MERCK	$1,715,000	+4.1%	20,673	-3.0%	0.22%	-2.6%
CL	Sell	COLGATE-PALMOLIVE	$1,648,000	-0.3%	21,360	-5.3%	0.21%	-7.0%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$1,642,000	+14.8%	7,712	-3.7%	0.21%	+7.0%
BMY	Buy	BRISTOL-MYERS SQUIBB	$1,512,000	+44.3%	25,072	+40.7%	0.20%	+34.9%
HON	Buy	HONEYWELL INTL	$1,472,000	+125.4%	8,943	+98.0%	0.19%	+109.9%
PEP	Sell	PEPSICO	$1,462,000	+4.7%	10,548	-0.0%	0.19%	-2.1%
SIX	Buy	SIX FLAGS ENTERTAINMENT	$1,323,000	+69.4%	65,197	+60.4%	0.17%	+57.8%
XOM	Sell	EXXON MOBIL	$1,097,000	-32.5%	31,961	-12.0%	0.14%	-36.7%
MTD	Buy	METTLER TOLEDO	$1,060,000	+22.7%	1,098	+2.3%	0.14%	+15.0%
NEE	Buy	NEXTERA ENERGY	$997,000	+55.3%	3,593	+34.4%	0.13%	+46.1%
SPY	Sell	SPDR S&P 500 ETF	$969,000	-0.3%	2,893	-8.2%	0.13%	-6.7%
SYK	Buy	STRYKER CORP	$947,000	+23.1%	4,543	+6.4%	0.12%	+15.0%
JPM	Sell	JPMORGAN CHASE	$915,000	-4.5%	9,507	-6.6%	0.12%	-10.5%
ITW	Sell	ILLINOIS TOOL WORKS	$826,000	+10.0%	4,275	-0.5%	0.11%	+2.9%
PFE	Sell	PFIZER	$777,000	+11.8%	21,162	-0.4%	0.10%	+4.1%
ORA	Buy	ORMAT TECHNOLOGIES	$751,000	-3.2%	12,700	+3.9%	0.10%	-9.3%
NVZMY	Buy	NOVOZYMES UNSPN ADR	$752,000	+9.9%	11,955	+1.1%	0.10%	+3.2%
V	Buy	VISA	$668,000	+14.4%	3,339	+10.5%	0.09%	+7.4%
FB	Buy	FACEBOOK INC	$659,000	+82.5%	2,516	+58.2%	0.09%	+72.0%
KO	Sell	COCA COLA	$628,000	+4.5%	12,729	-5.4%	0.08%	-2.4%
VZ	Buy	VERIZON COMMUNICATIONS	$625,000	+13.6%	10,508	+5.4%	0.08%	+6.6%
ADBE	Buy	ADOBE SYS	$604,000	+54.1%	1,231	+36.8%	0.08%	+46.3%
MKC	Sell	MCCORMICK & CO	$586,000	-0.2%	3,020	-7.6%	0.08%	-7.3%
CRM	Buy	SALESFORCE.COM	$586,000	+71.3%	2,331	+27.8%	0.08%	+58.3%
SYY	Sell	SYSCO	$573,000	+7.5%	9,212	-5.5%	0.07%	0.0%
MDLZ	Sell	MONDELEZ INTERNATIONAL INC	$557,000	+6.7%	9,689	-5.1%	0.07%	-1.4%
GOOG	Buy	ALPHABET INC CL C	$544,000	+46.2%	370	+40.7%	0.07%	+36.5%
PM	Sell	PHILIP MORRIS	$491,000	-26.6%	6,551	-31.4%	0.06%	-31.2%
ULTA	Sell	ULTA SALON	$480,000	-15.2%	2,142	-23.1%	0.06%	-21.5%
	Buy	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$474,000	+13.7%	8,801	+5.5%	0.06%	+6.9%
APD	Sell	AIR PRODUCTS & CHEM	$462,000	-14.4%	1,550	-30.6%	0.06%	-20.0%
T	Sell	AT&T INC.	$455,000	-12.0%	15,969	-6.6%	0.06%	-18.1%
VIG	Buy	VANGUARD DIVIDEND APPRECIATION	$431,000	+16.8%	3,353	+6.3%	0.06%	+9.8%
GIS	Sell	GENERAL MILLS	$425,000	-0.2%	6,885	-0.4%	0.06%	-6.8%
IWV	Sell	ISHARES RUSSELL 3000	$391,000	-14.8%	2,000	-21.6%	0.05%	-20.3%
IBM	Sell	INTL BUSINESS MACH	$389,000	0.0%	3,199	-0.8%	0.05%	-5.6%
NSC	Sell	NORFOLK SOUTHERN	$382,000	+20.1%	1,785	-1.4%	0.05%	+13.6%
IPGP	Sell	IPG PHOTONICS	$366,000	-58.0%	2,155	-60.3%	0.05%	-60.3%
AZO	Sell	AUTO ZONE	$353,000	-10.6%	300	-14.3%	0.05%	-16.4%
DRI	Sell	DARDEN RESTAURANTS	$345,000	+24.1%	3,425	-6.8%	0.04%	+15.4%
IVV	Sell	ISHARES S&P 500	$307,000	-14.5%	914	-21.1%	0.04%	-20.0%
DCI	Sell	DONALDSON INC	$288,000	-1.0%	6,200	-0.8%	0.04%	-7.5%
D	Buy	DOMINION RES INC	$253,000	+3.7%	3,200	+6.7%	0.03%	-2.9%
	Sell	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$250,000	-10.7%	3,394	-15.2%	0.03%	-17.9%
ZTS	New	ZOETIS INC	$247,000	–	1,495	–	0.03%	–
ACN	New	ACCENTURE PLC SHS	$245,000	–	1,082	–	0.03%	–
VEA	Sell	VANGUARD FTSE DEVELOPED MARKET	$229,000	-7.7%	5,589	-12.5%	0.03%	-11.8%
	New	VANGUARD INTERNATIONAL GROWTHequity mutual fu	$229,000	–	1,703	–	0.03%	–
AMGN	Sell	AMGEN INC	$232,000	-4.9%	914	-11.8%	0.03%	-11.8%
SBUX	New	STARBUCKS	$209,000	–	2,438	–	0.03%	–
FDS	Sell	FACTSET RESH SYS	$201,000	-18.3%	600	-20.0%	0.03%	-23.5%
	Sell	NOVOZYMES A S SER B DKK2	$201,000	-17.3%	3,195	-23.9%	0.03%	-23.5%
GE	Sell	GENERAL ELECTRIC	$190,000	-16.7%	30,440	-9.0%	0.02%	-21.9%
EPD	Sell	ENTERPRISE PRODUCTS PTNR	$183,000	-17.2%	11,597	-4.8%	0.02%	-22.6%
TFX	Exit	TELEFLEX	$0	–	-695	–	-0.04%	–
CARR	Exit	CARRIER GLOBAL	$0	–	-22,738	–	-0.07%	–
OTIS	Exit	OTIS WORLDWIDE	$0	–	-11,362	–	-0.09%	–
FTV	Exit	FORTIVE CORP	$0	–	-11,059	–	-0.10%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$36,733,000	–	100,694	–	5.11%	–
MSFT	New	MICROSOFT CORP	$29,608,000	–	145,489	–	4.12%	–
DHR	New	DANAHER CORP	$27,688,000	–	156,578	–	3.85%	–
MA	New	MASTERCARD	$26,245,000	–	88,755	–	3.65%	–
GOOGL	New	ALPHABET INC CL A	$25,685,000	–	18,113	–	3.57%	–
ABT	New	ABBOTT LABS	$24,529,000	–	268,284	–	3.41%	–
ADI	New	ANALOG DEVICES	$24,053,000	–	196,130	–	3.34%	–
PYPL	New	PAYPAL HOLDINGS	$22,949,000	–	131,717	–	3.19%	–
AMZN	New	AMAZON.COM	$22,466,000	–	8,143	–	3.12%	–
CNI	New	CANADIAN NATL RAILWAY	$21,862,000	–	246,831	–	3.04%	–
JNJ	New	JOHNSON & JOHNSON	$20,939,000	–	148,892	–	2.91%	–
NSRGY	New	NESTLE SA ADR	$20,842,000	–	188,721	–	2.90%	–
HD	New	HOME DEPOT	$19,428,000	–	77,553	–	2.70%	–
ADP	New	AUTOMATIC DATA PROCESSING	$19,262,000	–	129,368	–	2.68%	–
FISV	New	FISERV	$18,885,000	–	193,459	–	2.63%	–
NVS	New	NOVARTIS AG ADR	$18,802,000	–	215,270	–	2.61%	–
PG	New	PROCTER & GAMBLE	$18,761,000	–	156,905	–	2.61%	–
ATR	New	APTARGROUP	$17,877,000	–	159,647	–	2.48%	–
ROK	New	ROCKWELL AUTOMATION	$17,047,000	–	80,032	–	2.37%	–
XLNX	New	XILINX	$16,377,000	–	166,447	–	2.28%	–
DIS	New	DISNEY	$15,951,000	–	143,048	–	2.22%	–
BDX	New	BECTON DICKINSON	$13,954,000	–	58,320	–	1.94%	–
ILMN	New	ILLUMINA	$13,916,000	–	37,575	–	1.94%	–
UL	New	UNILEVER PLC NEW ADR	$13,389,000	–	243,974	–	1.86%	–
CB	New	CHUBB LIMITED	$13,342,000	–	105,367	–	1.86%	–
	New	ORSTED A S	$12,557,000	–	109,155	–	1.75%	–
CVX	New	CHEVRON	$12,433,000	–	139,336	–	1.73%	–
	New	NOVOZYMES A S DKK 2.0	$11,927,000	–	206,922	–	1.66%	–
INTC	New	INTEL CORP	$11,504,000	–	192,275	–	1.60%	–
CVS	New	CVS HEALTH	$9,943,000	–	153,040	–	1.38%	–
RTX	New	RAYTHEON TECHNOLOGIES	$8,930,000	–	144,915	–	1.24%	–
MMM	New	3M	$8,810,000	–	56,478	–	1.22%	–
UNH	New	UNITED HEALTH GROUP	$7,884,000	–	26,729	–	1.10%	–
WM	New	WASTE MANAGEMENT INC	$6,541,000	–	61,756	–	0.91%	–
EOG	New	EOG RESOURCES	$6,351,000	–	125,365	–	0.88%	–
RHHBY	New	ROCHE HLDG LTD ADR	$5,824,000	–	134,264	–	0.81%	–
XYL	New	XYLEM INC	$5,728,000	–	88,177	–	0.80%	–
NVDA	New	NVIDIA CORP	$4,755,000	–	12,517	–	0.66%	–
DLR	New	DIGITAL REALTY	$4,743,000	–	33,374	–	0.66%	–
UNP	New	UNION PACIFIC	$4,529,000	–	26,785	–	0.63%	–
TJX	New	TJX COS	$4,278,000	–	84,620	–	0.60%	–
ABBV	New	ABBVIE	$3,743,000	–	38,129	–	0.52%	–
NKE	New	NIKE INC CLASS B	$3,667,000	–	37,399	–	0.51%	–
AMT	New	AMERICAN TOWER	$3,155,000	–	12,204	–	0.44%	–
CHD	New	CHURCH & DWIGHT	$2,719,000	–	35,178	–	0.38%	–
CSCO	New	CISCO SYS INC	$2,556,000	–	54,803	–	0.36%	–
ECL	New	ECOLAB INC	$2,396,000	–	12,041	–	0.33%	–
AAGIY	New	AIA GROUP LTD SPON ADR EA REPR	$2,102,000	–	56,205	–	0.29%	–
TMO	New	THERMO FISHER SCIENTIFIC	$2,036,000	–	5,618	–	0.28%	–
	New	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$2,003,000	–	213,736	–	0.28%	–
WMT	New	WAL-MART STORES	$1,835,000	–	15,322	–	0.26%	–
CL	New	COLGATE-PALMOLIVE	$1,653,000	–	22,559	–	0.23%	–
MRK	New	MERCK	$1,647,000	–	21,302	–	0.23%	–
XOM	New	EXXON MOBIL	$1,625,000	–	36,327	–	0.23%	–
IDXX	New	IDEXX CORP	$1,585,000	–	4,802	–	0.22%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,539,000	–	51,332	–	0.21%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,498,000	–	115,472	–	0.21%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,430,000	–	8,012	–	0.20%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,423,000	–	93,449	–	0.20%	–
PEP	New	PEPSICO	$1,396,000	–	10,553	–	0.19%	–
APH	New	AMPHENOL	$1,150,000	–	12,005	–	0.16%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,048,000	–	17,822	–	0.15%	–
SPY	New	SPDR S&P 500 ETF	$972,000	–	3,153	–	0.14%	–
JPM	New	JPMORGAN CHASE	$958,000	–	10,182	–	0.13%	–
IPGP	New	IPG PHOTONICS	$872,000	–	5,435	–	0.12%	–
MTD	New	METTLER TOLEDO	$864,000	–	1,073	–	0.12%	–
SIX	New	SIX FLAGS ENTERTAINMENT	$781,000	–	40,635	–	0.11%	–
ORA	New	ORMAT TECHNOLOGIES	$776,000	–	12,225	–	0.11%	–
SYK	New	STRYKER CORP	$769,000	–	4,269	–	0.11%	–
FTV	New	FORTIVE CORP	$748,000	–	11,059	–	0.10%	–
ITW	New	ILLINOIS TOOL WORKS	$751,000	–	4,296	–	0.10%	–
PFE	New	PFIZER	$695,000	–	21,245	–	0.10%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$684,000	–	11,830	–	0.10%	–
PM	New	PHILIP MORRIS	$669,000	–	9,551	–	0.09%	–
HON	New	HONEYWELL INTL	$653,000	–	4,517	–	0.09%	–
OTIS	New	OTIS WORLDWIDE	$646,000	–	11,362	–	0.09%	–
NEE	New	NEXTERA ENERGY	$642,000	–	2,674	–	0.09%	–
KO	New	COCA COLA	$601,000	–	13,459	–	0.08%	–
CP	New	CANADIAN PACIFIC RAILWAYLTD	$595,000	–	2,332	–	0.08%	–
MKC	New	MCCORMICK & CO	$587,000	–	3,270	–	0.08%	–
V	New	VISA	$584,000	–	3,023	–	0.08%	–
ULTA	New	ULTA SALON	$566,000	–	2,784	–	0.08%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$558,000	–	7,750	–	0.08%	–
VZ	New	VERIZON COMMUNICATIONS	$550,000	–	9,972	–	0.08%	–
	New	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$543,000	–	7,125	–	0.08%	–
APD	New	AIR PRODUCTS & CHEM	$540,000	–	2,235	–	0.08%	–
SYY	New	SYSCO	$533,000	–	9,747	–	0.07%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$522,000	–	10,214	–	0.07%	–
T	New	AT&T INC.	$517,000	–	17,104	–	0.07%	–
CARR	New	CARRIER GLOBAL	$505,000	–	22,738	–	0.07%	–
TD	New	TORONTO DOMINION BANK	$470,000	–	10,545	–	0.06%	–
IWV	New	ISHARES RUSSELL 3000	$459,000	–	2,550	–	0.06%	–
GIS	New	GENERAL MILLS	$426,000	–	6,910	–	0.06%	–
	New	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$417,000	–	8,341	–	0.06%	–
AZO	New	AUTO ZONE	$395,000	–	350	–	0.06%	–
ADBE	New	ADOBE SYS	$392,000	–	900	–	0.05%	–
IBM	New	INTL BUSINESS MACH	$389,000	–	3,224	–	0.05%	–
SHW	New	SHERWIN WILLIAMS	$390,000	–	675	–	0.05%	–
RY	New	ROYAL BANK CANADA	$383,000	–	5,650	–	0.05%	–
GOOG	New	ALPHABET INC CL C	$372,000	–	263	–	0.05%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION	$369,000	–	3,153	–	0.05%	–
DNKN	New	DUNKIN BRANDS GROUP	$357,000	–	5,466	–	0.05%	–
IVV	New	ISHARES S&P 500	$359,000	–	1,159	–	0.05%	–
FB	New	FACEBOOK INC	$361,000	–	1,590	–	0.05%	–
CRM	New	SALESFORCE.COM	$342,000	–	1,824	–	0.05%	–
NSC	New	NORFOLK SOUTHERN	$318,000	–	1,810	–	0.04%	–
DCI	New	DONALDSON INC	$291,000	–	6,250	–	0.04%	–
	New	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$280,000	–	4,001	–	0.04%	–
BNS	New	BANK OF NOVA SCOTIA	$281,000	–	6,825	–	0.04%	–
DRI	New	DARDEN RESTAURANTS	$278,000	–	3,675	–	0.04%	–
QUAL	New	ISHARES EDGE MSCI USA QUALITY	$258,000	–	2,690	–	0.04%	–
TFX	New	TELEFLEX	$253,000	–	695	–	0.04%	–
TXN	New	TEXAS INSTRUMENTS	$254,000	–	2,000	–	0.04%	–
	New	NOVOZYMES A S SER B DKK2	$243,000	–	4,200	–	0.03%	–
D	New	DOMINION RES INC	$244,000	–	3,000	–	0.03%	–
FDS	New	FACTSET RESH SYS	$246,000	–	750	–	0.03%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$248,000	–	6,389	–	0.03%	–
AMGN	New	AMGEN INC	$244,000	–	1,036	–	0.03%	–
COST	New	COSTCO WHOLESALE	$235,000	–	775	–	0.03%	–
MO	New	ALTRIA GROUP	$235,000	–	5,990	–	0.03%	–
GE	New	GENERAL ELECTRIC	$228,000	–	33,440	–	0.03%	–
	New	NESTLE SA	$221,000	–	2,000	–	0.03%	–
EPD	New	ENTERPRISE PRODUCTS PTNR	$221,000	–	12,181	–	0.03%	–
DVY	New	ISHARES DOW JONES SELECT DIVID	$202,000	–	2,500	–	0.03%	–
IWB	New	ISHARES RUSSELL 1000	$202,000	–	1,175	–	0.03%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$160,000	–	10,919	–	0.02%	–
	New	INVESCO OPPENHEIMER STEELPATHequity mutual fu	$44,000	–	10,942	–	0.01%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.03%	–
ADBE	Exit	ADOBE SYS	$0	–	-765	–	-0.03%	–
OEF	Exit	ISHARES S&P 100 INDEX FUNDequity mutual fu	$0	–	-1,600	–	-0.03%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-3,748	–	-0.03%	–
GPC	Exit	GENUINE PARTS	$0	–	-2,200	–	-0.03%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-25,201	–	-0.04%	–
	Exit	FIDELITY ADVISOR NEW INSIGHTSequity mutual fu	$0	–	-7,000	–	-0.04%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-825	–	-0.04%	–
TFX	Exit	TELEFLEX	$0	–	-700	–	-0.04%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-1,000	–	-0.04%	–
AFL	Exit	AFLAC INC	$0	–	-4,900	–	-0.04%	–
D	Exit	DOMINION RES INC	$0	–	-3,150	–	-0.04%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-2,000	–	-0.04%	–
	Exit	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$0	–	-5,227	–	-0.04%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-1,750	–	-0.04%	–
WFC	Exit	WELLS FARGO	$0	–	-5,532	–	-0.04%	–
CRM	Exit	SALESFORCE.COM	$0	–	-1,945	–	-0.04%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-4,029	–	-0.04%	–
WMT	Exit	WAL-MART STORES	$0	–	-2,480	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL INC	$0	–	-5,430	–	-0.05%	–
	Exit	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$0	–	-4,267	–	-0.05%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,575	–	-0.05%	–
FB	Exit	FACEBOOK INC	$0	–	-1,887	–	-0.05%	–
ALC	Exit	ALCON INC	$0	–	-5,887	–	-0.05%	–
DCI	Exit	DONALDSON INC	$0	–	-6,650	–	-0.05%	–
PFE	Exit	PFIZER	$0	–	-10,354	–	-0.06%	–
PM	Exit	PHILIP MORRIS	$0	–	-5,000	–	-0.06%	–
DRI	Exit	DARDEN RESTAURANTS	$0	–	-3,235	–	-0.06%	–
ORCL	Exit	ORACLE	$0	–	-7,023	–	-0.06%	–
IR	Exit	INGERSOLL RAND PLC	$0	–	-3,100	–	-0.06%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-319	–	-0.06%	–
MDT	Exit	MEDTRONIC	$0	–	-3,696	–	-0.06%	–
BNS	Exit	BANK OF NOVA SCOTIA	$0	–	-7,270	–	-0.06%	–
GIS	Exit	GENERAL MILLS	$0	–	-7,705	–	-0.07%	–
DNKN	Exit	DUNKIN BRANDS GROUP	$0	–	-5,466	–	-0.07%	–
AZO	Exit	AUTO ZONE	$0	–	-400	–	-0.07%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-10,550	–	-0.07%	–
ORA	Exit	ORMAT TECHNOLOGIES	$0	–	-6,010	–	-0.07%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-2,675	–	-0.08%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-5,072	–	-0.08%	–
RY	Exit	ROYAL BANK CANADA	$0	–	-6,100	–	-0.08%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-8,800	–	-0.08%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-4,415	–	-0.08%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-3,599	–	-0.08%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-950	–	-0.08%	–
	Exit	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$0	–	-7,125	–	-0.08%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-2,365	–	-0.09%	–
V	Exit	VISA	$0	–	-3,310	–	-0.09%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-2,705	–	-0.09%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-7,750	–	-0.09%	–
MKC	Exit	MCCORMICK & CO	$0	–	-3,928	–	-0.10%	–
CP	Exit	CANADIAN PACIFIC RAILWAYLTD	$0	–	-2,815	–	-0.10%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-10,844	–	-0.10%	–
T	Exit	AT&T INC.	$0	–	-19,148	–	-0.11%	–
ULTA	Exit	ULTA SALON	$0	–	-2,976	–	-0.12%	–
SYY	Exit	SYSCO	$0	–	-9,593	–	-0.12%	–
KO	Exit	COCA COLA	$0	–	-14,054	–	-0.12%	–
MTD	Exit	METTLER TOLEDO	$0	–	-1,094	–	-0.12%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-4,926	–	-0.12%	–
TJX	Exit	TJX COS	$0	–	-15,344	–	-0.13%	–
CELG	Exit	CELGENE CORP	$0	–	-11,295	–	-0.18%	–
SYK	Exit	STRYKER CORP	$0	–	-5,192	–	-0.18%	–
APH	Exit	AMPHENOL	$0	–	-12,055	–	-0.18%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-4,158	–	-0.19%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-4,428	–	-0.20%	–
IDXX	Exit	IDEXX CORP	$0	–	-4,957	–	-0.21%	–
	Exit	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$0	–	-93,449	–	-0.21%	–
UNH	Exit	UNITED HEALTH GROUP	$0	–	-6,406	–	-0.22%	–
PEP	Exit	PEPSICO	$0	–	-11,213	–	-0.24%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-51,332	–	-0.26%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-23,305	–	-0.27%	–
AAGIY	Exit	AIA GROUP LTD SPON ADR EA REPR	$0	–	-47,154	–	-0.28%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-115,472	–	-0.28%	–
	Exit	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$0	–	-158,118	–	-0.29%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-38,460	–	-0.31%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-29,650	–	-0.31%	–
MRK	Exit	MERCK	$0	–	-26,513	–	-0.35%	–
NVDA	Exit	NVIDIA CORP	$0	–	-13,287	–	-0.36%	–
ECL	Exit	ECOLAB INC	$0	–	-11,915	–	-0.37%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-31,886	–	-0.38%	–
AMT	Exit	AMERICAN TOWER	$0	–	-11,240	–	-0.39%	–
ABBV	Exit	ABBVIE	$0	–	-35,083	–	-0.42%	–
XOM	Exit	EXXON MOBIL	$0	–	-37,956	–	-0.42%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-12,898	–	-0.42%	–
EOG	Exit	EOG RESOURCES	$0	–	-50,249	–	-0.58%	–
FTV	Exit	FORTIVE CORP	$0	–	-59,727	–	-0.64%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-30,776	–	-0.65%	–
CSCO	Exit	CISCO SYS INC	$0	–	-86,189	–	-0.67%	–
UNP	Exit	UNION PACIFIC	$0	–	-26,610	–	-0.68%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-136,884	–	-0.78%	–
XYL	Exit	XYLEM INC	$0	–	-70,718	–	-0.88%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-61,440	–	-1.11%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-202,841	–	-1.33%	–
CVS	Exit	CVS HEALTH	$0	–	-141,282	–	-1.40%	–
	Exit	ORSTED A S	$0	–	-103,265	–	-1.50%	–
INTC	Exit	INTEL CORP	$0	–	-198,204	–	-1.60%	–
AMZN	Exit	AMAZON.COM	$0	–	-5,987	–	-1.63%	–
BDX	Exit	BECTON DICKINSON	$0	–	-42,313	–	-1.68%	–
ILMN	Exit	ILLUMINA	$0	–	-35,723	–	-1.70%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-105,231	–	-1.71%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-71,021	–	-1.83%	–
XLNX	Exit	XILINX	$0	–	-141,486	–	-2.13%	–
MMM	Exit	3M	$0	–	-82,852	–	-2.13%	–
CVX	Exit	CHEVRON	$0	–	-115,769	–	-2.15%	–
DIS	Exit	DISNEY	$0	–	-115,558	–	-2.36%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-253,306	–	-2.38%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-125,233	–	-2.54%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-118,704	–	-2.54%	–
HD	Exit	HOME DEPOT	$0	–	-75,589	–	-2.75%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-205,073	–	-2.79%	–
ATR	Exit	APTARGROUP	$0	–	-151,346	–	-2.81%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-151,282	–	-2.95%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-142,093	–	-3.10%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-183,994	–	-3.13%	–
CB	Exit	CHUBB LIMITED	$0	–	-125,379	–	-3.17%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-125,903	–	-3.18%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-231,255	–	-3.26%	–
ADI	Exit	ANALOG DEVICES	$0	–	-186,521	–	-3.26%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-18,085	–	-3.46%	–
ABT	Exit	ABBOTT LABS	$0	–	-267,026	–	-3.50%	–
FISV	Exit	FISERV	$0	–	-220,191	–	-3.57%	–
DHR	Exit	DANAHER CORP	$0	–	-159,510	–	-3.61%	–
MA	Exit	MASTERCARD	$0	–	-87,562	–	-3.73%	–
AAPL	Exit	APPLE INC	$0	–	-119,738	–	-4.20%	–

Q3 2019

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$26,818,000	+12.1%	119,738	-0.9%	4.20%	+13.8%
MA	Sell	MASTERCARD	$23,779,000	-5.3%	87,562	-7.7%	3.73%	-3.9%
DHR	Sell	DANAHER CORP	$23,038,000	-0.4%	159,510	-1.5%	3.61%	+1.0%
FISV	Sell	FISERV	$22,810,000	+6.5%	220,191	-6.3%	3.57%	+8.1%
ABT	Sell	ABBOTT LABS	$22,342,000	-6.9%	267,026	-6.4%	3.50%	-5.6%
GOOGL	Sell	ALPHABET INC CL A	$22,084,000	+12.6%	18,085	-0.2%	3.46%	+14.2%
ADI	Buy	ANALOG DEVICES	$20,840,000	-0.1%	186,521	+0.9%	3.26%	+1.4%
CNI	Buy	CANADIAN NATL RAILWAY	$20,781,000	-0.9%	231,255	+2.0%	3.26%	+0.5%
ADP	Buy	AUTOMATIC DATA PROCESSING	$20,323,000	-2.1%	125,903	+0.3%	3.18%	-0.7%
CB	Sell	CHUBB LIMITED	$20,241,000	+9.2%	125,379	-0.4%	3.17%	+10.8%
NSRGY	Buy	NESTLE SA ADR	$19,980,000	+5.9%	183,994	+0.8%	3.13%	+7.4%
MSFT	Buy	MICROSOFT CORP	$19,755,000	+7.4%	142,093	+3.5%	3.10%	+9.0%
PG	Sell	PROCTER & GAMBLE	$18,817,000	+13.2%	151,282	-0.2%	2.95%	+14.9%
ATR	Buy	APTARGROUP	$17,927,000	-4.4%	151,346	+0.3%	2.81%	-3.0%
NVS	Buy	NOVARTIS AG ADR	$17,821,000	-4.1%	205,073	+0.8%	2.79%	-2.7%
HD	Sell	HOME DEPOT	$17,538,000	+11.5%	75,589	-0.1%	2.75%	+13.1%
JNJ	Sell	JOHNSON & JOHNSON	$16,203,000	-8.0%	125,233	-0.9%	2.54%	-6.6%
UTX	Sell	UNITED TECHNOLOGIES	$16,205,000	+4.4%	118,704	-0.4%	2.54%	+5.9%
UL	Buy	UNILEVER PLC NEW ADR	$15,224,000	-1.1%	253,306	+2.0%	2.38%	+0.3%
DIS	Buy	DISNEY	$15,059,000	-4.4%	115,558	+2.5%	2.36%	-3.0%
CVX	Buy	CHEVRON	$13,730,000	+16.4%	115,769	+22.1%	2.15%	+18.1%
MMM	Sell	3M	$13,621,000	-13.7%	82,852	-9.0%	2.13%	-12.5%
XLNX	Buy	XILINX	$13,569,000	-17.4%	141,486	+1.5%	2.13%	-16.2%
ROK	Buy	ROCKWELL AUTOMATION	$11,704,000	+6.5%	71,021	+5.9%	1.83%	+8.1%
PYPL	Buy	PAYPAL HOLDINGS	$10,901,000	-7.2%	105,231	+2.5%	1.71%	-5.8%
ILMN	Buy	ILLUMINA	$10,868,000	-17.2%	35,723	+0.2%	1.70%	-16.0%
BDX	Buy	BECTON DICKINSON	$10,703,000	+59.0%	42,313	+58.4%	1.68%	+61.2%
AMZN	Buy	AMAZON.COM	$10,394,000	-6.8%	5,987	+1.6%	1.63%	-5.5%
INTC	Sell	INTEL CORP	$10,213,000	+5.3%	198,204	-2.2%	1.60%	+6.8%
	Buy	ORSTED A S	$9,572,000	+8.5%	103,265	+0.9%	1.50%	+10.1%
CVS	Sell	CVS HEALTH	$8,911,000	+11.4%	141,282	-3.8%	1.40%	+12.9%
	Buy	NOVOZYMES A S DKK 2.0	$8,506,000	-9.1%	202,841	+0.8%	1.33%	-7.8%
WM	Sell	WASTE MANAGEMENT INC	$7,066,000	-0.7%	61,440	-0.4%	1.11%	+0.7%
XYL	Buy	XYLEM INC	$5,631,000	+4.7%	70,718	+10.0%	0.88%	+6.1%
RHHBY	Sell	ROCHE HLDG LTD ADR	$4,984,000	+2.8%	136,884	-0.9%	0.78%	+4.3%
UNP	Sell	UNION PACIFIC	$4,310,000	-9.5%	26,610	-5.5%	0.68%	-8.2%
CSCO	Sell	CISCO SYS INC	$4,259,000	-15.3%	86,189	-6.2%	0.67%	-14.0%
IPGP	Sell	IPG PHOTONICS	$4,173,000	-13.0%	30,776	-1.1%	0.65%	-11.7%
FTV	Buy	FORTIVE CORP	$4,095,000	-15.1%	59,727	+1.0%	0.64%	-13.7%
EOG	Sell	EOG RESOURCES	$3,729,000	-69.2%	50,249	-61.4%	0.58%	-68.8%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$2,683,000	-13.5%	12,898	-11.4%	0.42%	-12.3%
XOM	Sell	EXXON MOBIL	$2,680,000	-15.1%	37,956	-7.9%	0.42%	-13.9%
ABBV	Sell	ABBVIE	$2,657,000	-2.2%	35,083	-6.1%	0.42%	-1.0%
AMT	Sell	AMERICAN TOWER	$2,486,000	-2.7%	11,240	-10.1%	0.39%	-1.3%
CHD	Sell	CHURCH & DWIGHT	$2,399,000	-12.2%	31,886	-14.7%	0.38%	-10.9%
ECL	Sell	ECOLAB INC	$2,360,000	-8.3%	11,915	-8.6%	0.37%	-7.0%
NVDA	Buy	NVIDIA CORP	$2,313,000	+9.5%	13,287	+3.3%	0.36%	+11.0%
MRK	Sell	MERCK	$2,232,000	-11.5%	26,513	-11.9%	0.35%	-10.3%
EMR	Sell	EMERSON ELECTRIC	$1,982,000	-11.4%	29,650	-11.6%	0.31%	-10.1%
AAGIY	Sell	AIA GROUP LTD SPON ADR EA REPR	$1,782,000	-14.3%	47,154	-2.1%	0.28%	-13.1%
CL	Sell	COLGATE-PALMOLIVE	$1,713,000	+1.2%	23,305	-1.3%	0.27%	+2.7%
PEP	Sell	PEPSICO	$1,537,000	-15.9%	11,213	-19.6%	0.24%	-14.5%
UNH	Buy	UNITED HEALTH GROUP	$1,392,000	-9.6%	6,406	+1.6%	0.22%	-8.4%
	Sell	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,362,000	+0.4%	93,449	-0.9%	0.21%	+1.9%
IDXX	Sell	IDEXX CORP	$1,348,000	-16.3%	4,957	-15.3%	0.21%	-15.3%
TMO	Buy	THERMO FISHER SCIENTIFIC	$1,290,000	+34.8%	4,428	+35.9%	0.20%	+36.5%
SPY	Sell	SPDR S&P 500 ETF	$1,234,000	+0.1%	4,158	-1.2%	0.19%	+1.6%
APH	Sell	AMPHENOL	$1,163,000	-1.1%	12,055	-1.7%	0.18%	0.0%
SYK	Sell	STRYKER CORP	$1,123,000	+0.3%	5,192	-4.7%	0.18%	+1.7%
CELG	Sell	CELGENE CORP	$1,122,000	-21.4%	11,295	-26.8%	0.18%	-20.0%
TJX	Sell	TJX COS	$855,000	+4.8%	15,344	-0.6%	0.13%	+6.3%
MTD	Sell	METTLER TOLEDO	$771,000	-26.2%	1,094	-12.1%	0.12%	-24.8%
ITW	Sell	ILLINOIS TOOL WORKS	$771,000	+0.7%	4,926	-3.0%	0.12%	+2.5%
KO	Sell	COCA COLA	$765,000	+4.5%	14,054	-2.3%	0.12%	+6.2%
SYY	Sell	SYSCO	$762,000	+6.4%	9,593	-5.2%	0.12%	+7.2%
ULTA	Sell	ULTA SALON	$746,000	-28.7%	2,976	-1.3%	0.12%	-27.8%
T	Sell	AT&T INC.	$725,000	+8.9%	19,148	-3.6%	0.11%	+10.7%
VZ	Sell	VERIZON COMMUNICATIONS	$655,000	+0.9%	10,844	-4.6%	0.10%	+3.0%
CP	Sell	CANADIAN PACIFIC RAILWAYLTD	$626,000	-6.8%	2,815	-1.4%	0.10%	-5.8%
MKC	Sell	MCCORMICK & CO	$614,000	-4.1%	3,928	-4.8%	0.10%	-3.0%
APD	Sell	AIR PRODUCTS & CHEM	$600,000	-13.3%	2,705	-11.5%	0.09%	-12.1%
V	Sell	VISA	$569,000	-4.8%	3,310	-3.9%	0.09%	-3.3%
NEE	Sell	NEXTERA ENERGY	$551,000	+5.4%	2,365	-7.3%	0.09%	+6.2%
SHW	Sell	SHERWIN WILLIAMS	$522,000	+8.5%	950	-9.5%	0.08%	+10.8%
IBM	Buy	INTL BUSINESS MACH	$523,000	+67.6%	3,599	+59.0%	0.08%	+70.8%
	Sell	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$524,000	-6.8%	7,125	-7.5%	0.08%	-5.7%
JPM	New	JPMORGAN CHASE	$520,000	–	4,415	–	0.08%	–
TD	Sell	TORONTO DOMINION BANK	$513,000	-0.6%	8,800	-0.6%	0.08%	0.0%
RY	Sell	ROYAL BANK CANADA	$495,000	+1.4%	6,100	-0.8%	0.08%	+4.0%
NKE	Buy	NIKE INC CLASS B	$476,000	+12.3%	5,072	+0.5%	0.08%	+15.4%
NVZMY	Sell	NOVOZYMES UNSPN ADR	$444,000	-21.3%	10,550	-13.0%	0.07%	-19.5%
ORA	Sell	ORMAT TECHNOLOGIES	$446,000	+11.5%	6,010	-4.7%	0.07%	+12.9%
AZO	Sell	AUTO ZONE	$434,000	-7.1%	400	-5.9%	0.07%	-5.6%
GIS	Sell	GENERAL MILLS	$425,000	+2.7%	7,705	-2.3%	0.07%	+4.7%
BNS	Sell	BANK OF NOVA SCOTIA	$413,000	+3.8%	7,270	-0.7%	0.06%	+6.6%
MDT	Sell	MEDTRONIC	$402,000	+6.3%	3,696	-4.8%	0.06%	+8.6%
GOOG	Sell	ALPHABET INC CL C	$389,000	-9.1%	319	-19.4%	0.06%	-7.6%
IR	Sell	INGERSOLL RAND PLC	$382,000	-5.7%	3,100	-3.1%	0.06%	-4.8%
ORCL	Sell	ORACLE	$386,000	-34.1%	7,023	-31.7%	0.06%	-33.3%
DRI	Sell	DARDEN RESTAURANTS	$382,000	-6.8%	3,235	-4.1%	0.06%	-4.8%
PM	New	PHILIP MORRIS	$380,000	–	5,000	–	0.06%	–
PFE	Buy	PFIZER	$372,000	-15.5%	10,354	+1.8%	0.06%	-14.7%
ALC	Sell	ALCON INC	$343,000	-48.3%	5,887	-44.9%	0.05%	-47.1%
DCI	Sell	DONALDSON INC	$346,000	+1.5%	6,650	-0.7%	0.05%	+1.9%
FB	Sell	FACEBOOK INC	$336,000	-16.6%	1,887	-9.6%	0.05%	-14.5%
	New	VANGUARD SMALL CAP INDEX FD ADequity mutual fu	$315,000	–	4,267	–	0.05%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC	$300,000	–	5,430	–	0.05%	–
WMT	Sell	WAL-MART STORES	$294,000	+0.7%	2,480	-6.1%	0.05%	+2.2%
CRM	Sell	SALESFORCE.COM	$289,000	-14.0%	1,945	-12.2%	0.04%	-13.5%
DD	Sell	DUPONT DE NEMOURS INC	$287,000	-7.4%	4,029	-2.3%	0.04%	-6.2%
WFC	New	WELLS FARGO	$279,000	–	5,532	–	0.04%	–
	Buy	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$264,000	+24.5%	5,227	+21.6%	0.04%	+24.2%
D	New	DOMINION RES INC	$255,000	–	3,150	–	0.04%	–
FDS	Sell	FACTSET RESH SYS	$243,000	-17.3%	1,000	-2.4%	0.04%	-15.6%
TFX	Sell	TELEFLEX	$238,000	-10.2%	700	-12.5%	0.04%	-9.8%
COST	Sell	COSTCO WHOLESALE	$238,000	-18.2%	825	-25.1%	0.04%	-17.8%
GE	Sell	GENERAL ELECTRIC	$225,000	-29.7%	25,201	-17.2%	0.04%	-28.6%
	Sell	FIDELITY ADVISOR NEW INSIGHTSequity mutual fu	$225,000	-24.0%	7,000	-22.2%	0.04%	-23.9%
GPC	Sell	GENUINE PARTS	$219,000	-8.0%	2,200	-4.3%	0.03%	-8.1%
OEF	Sell	ISHARES S&P 100 INDEX FUNDequity mutual fu	$210,000	-14.6%	1,600	-15.8%	0.03%	-13.2%
VNQ	Exit	VANGUARD REIT	$0	–	-2,400	–	-0.03%	–
	Exit	NOVOZYMES A S SER B DKK2	$0	–	-4,625	–	-0.03%	–
ZTS	Exit	ZOETIS INC	$0	–	-1,925	–	-0.03%	–
ICF	Exit	ISHARES COHEN AND STEERS REALT	$0	–	-1,950	–	-0.03%	–
WBA	Exit	WALGREEN BOOTS ALLIANCE INC	$0	–	-4,100	–	-0.04%	–
USB	Exit	US BANCORP	$0	–	-4,713	–	-0.04%	–
HON	Exit	HONEYWELL INTL	$0	–	-1,432	–	-0.04%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKET	$0	–	-6,065	–	-0.04%	–
PNC	Exit	PNC FINCL SERVICES	$0	–	-1,995	–	-0.04%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-4,269	–	-0.05%	–
	Exit	OAKMARK INTL FDequity mutual fu	$0	–	-15,488	–	-0.06%	–
SLB	Exit	SCHLUMBERGER	$0	–	-19,512	–	-0.12%	–

Q2 2019

			Value		Shares		↓ Weighting
MA	New	MASTERCARD	$25,106,000	–	94,907	–	3.88%	–
ABT	New	ABBOTT LABS	$24,005,000	–	285,434	–	3.71%	–
AAPL	New	APPLE INC	$23,914,000	–	120,827	–	3.69%	–
DHR	New	DANAHER CORP	$23,135,000	–	161,874	–	3.57%	–
FISV	New	FISERV	$21,413,000	–	234,900	–	3.31%	–
CNI	New	CANADIAN NATL RAILWAY	$20,973,000	–	226,786	–	3.24%	–
ADI	New	ANALOG DEVICES	$20,857,000	–	184,787	–	3.22%	–
ADP	New	AUTOMATIC DATA PROCESSING	$20,763,000	–	125,586	–	3.21%	–
GOOGL	New	ALPHABET INC CL A	$19,621,000	–	18,121	–	3.03%	–
NSRGY	New	NESTLE SA ADR	$18,869,000	–	182,481	–	2.91%	–
ATR	New	APTARGROUP	$18,759,000	–	150,868	–	2.90%	–
NVS	New	NOVARTIS AG ADR	$18,584,000	–	203,524	–	2.87%	–
CB	New	CHUBB LIMITED	$18,535,000	–	125,839	–	2.86%	–
MSFT	New	MICROSOFT CORP	$18,388,000	–	137,265	–	2.84%	–
JNJ	New	JOHNSON & JOHNSON	$17,609,000	–	126,432	–	2.72%	–
PG	New	PROCTER & GAMBLE	$16,619,000	–	151,561	–	2.57%	–
XLNX	New	XILINX	$16,434,000	–	139,366	–	2.54%	–
MMM	New	3M	$15,789,000	–	91,089	–	2.44%	–
DIS	New	DISNEY	$15,744,000	–	112,745	–	2.43%	–
HD	New	HOME DEPOT	$15,731,000	–	75,640	–	2.43%	–
UTX	New	UNITED TECHNOLOGIES	$15,519,000	–	119,196	–	2.40%	–
UL	New	UNILEVER PLC NEW ADR	$15,393,000	–	248,399	–	2.38%	–
ILMN	New	ILLUMINA	$13,131,000	–	35,669	–	2.03%	–
EOG	New	EOG RESOURCES	$12,126,000	–	130,158	–	1.87%	–
CVX	New	CHEVRON	$11,800,000	–	94,826	–	1.82%	–
PYPL	New	PAYPAL HOLDINGS	$11,747,000	–	102,626	–	1.81%	–
AMZN	New	AMAZON.COM	$11,158,000	–	5,892	–	1.72%	–
ROK	New	ROCKWELL AUTOMATION	$10,989,000	–	67,078	–	1.70%	–
INTC	New	INTEL CORP	$9,698,000	–	202,590	–	1.50%	–
	New	NOVOZYMES A S DKK 2.0	$9,357,000	–	201,231	–	1.44%	–
	New	ORSTED A S	$8,826,000	–	102,370	–	1.36%	–
CVS	New	CVS HEALTH	$8,002,000	–	146,845	–	1.24%	–
WM	New	WASTE MANAGEMENT INC	$7,119,000	–	61,710	–	1.10%	–
BDX	New	BECTON DICKINSON	$6,733,000	–	26,717	–	1.04%	–
XYL	New	XYLEM INC	$5,378,000	–	64,302	–	0.83%	–
CSCO	New	CISCO SYS INC	$5,027,000	–	91,843	–	0.78%	–
RHHBY	New	ROCHE HLDG LTD ADR	$4,850,000	–	138,182	–	0.75%	–
FTV	New	FORTIVE CORP	$4,821,000	–	59,142	–	0.74%	–
IPGP	New	IPG PHOTONICS	$4,799,000	–	31,111	–	0.74%	–
UNP	New	UNION PACIFIC	$4,762,000	–	28,160	–	0.74%	–
XOM	New	EXXON MOBIL	$3,158,000	–	41,214	–	0.49%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$3,103,000	–	14,558	–	0.48%	–
CHD	New	CHURCH & DWIGHT	$2,732,000	–	37,391	–	0.42%	–
ABBV	New	ABBVIE	$2,717,000	–	37,365	–	0.42%	–
ECL	New	ECOLAB INC	$2,575,000	–	13,043	–	0.40%	–
AMT	New	AMERICAN TOWER	$2,556,000	–	12,504	–	0.40%	–
MRK	New	MERCK	$2,523,000	–	30,093	–	0.39%	–
EMR	New	EMERSON ELECTRIC	$2,238,000	–	33,550	–	0.35%	–
NVDA	New	NVIDIA CORP	$2,112,000	–	12,862	–	0.33%	–
AAGIY	New	AIA GROUP LTD SPON ADR EA REPR	$2,079,000	–	48,174	–	0.32%	–
SIX	New	SIX FLAGS ENTERTAINMENT	$1,911,000	–	38,460	–	0.30%	–
	New	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$1,840,000	–	158,118	–	0.28%	–
PEP	New	PEPSICO	$1,828,000	–	13,943	–	0.28%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,764,000	–	115,472	–	0.27%	–
CL	New	COLGATE-PALMOLIVE	$1,692,000	–	23,615	–	0.26%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,691,000	–	51,332	–	0.26%	–
IDXX	New	IDEXX CORP	$1,611,000	–	5,852	–	0.25%	–
UNH	New	UNITED HEALTH GROUP	$1,539,000	–	6,307	–	0.24%	–
CELG	New	CELGENE CORP	$1,427,000	–	15,435	–	0.22%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,356,000	–	94,341	–	0.21%	–
SPY	New	SPDR S&P 500 ETF	$1,233,000	–	4,208	–	0.19%	–
APH	New	AMPHENOL	$1,176,000	–	12,260	–	0.18%	–
SYK	New	STRYKER CORP	$1,120,000	–	5,448	–	0.17%	–
ULTA	New	ULTA SALON	$1,046,000	–	3,016	–	0.16%	–
MTD	New	METTLER TOLEDO	$1,045,000	–	1,244	–	0.16%	–
TMO	New	THERMO FISHER SCIENTIFIC	$957,000	–	3,259	–	0.15%	–
TJX	New	TJX COS	$816,000	–	15,434	–	0.13%	–
SLB	New	SCHLUMBERGER	$775,000	–	19,512	–	0.12%	–
ITW	New	ILLINOIS TOOL WORKS	$766,000	–	5,076	–	0.12%	–
KO	New	COCA COLA	$732,000	–	14,379	–	0.11%	–
SYY	New	SYSCO	$716,000	–	10,124	–	0.11%	–
APD	New	AIR PRODUCTS & CHEM	$692,000	–	3,055	–	0.11%	–
CP	New	CANADIAN PACIFIC RAILWAYLTD	$672,000	–	2,855	–	0.10%	–
T	New	AT&T INC.	$666,000	–	19,867	–	0.10%	–
ALC	New	ALCON INC	$663,000	–	10,691	–	0.10%	–
VZ	New	VERIZON COMMUNICATIONS	$649,000	–	11,365	–	0.10%	–
MKC	New	MCCORMICK & CO	$640,000	–	4,128	–	0.10%	–
V	New	VISA	$598,000	–	3,445	–	0.09%	–
ORCL	New	ORACLE	$586,000	–	10,283	–	0.09%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$569,000	–	7,750	–	0.09%	–
	New	VANGUARD TOTAL STOCK MARKET INequity mutual fu	$562,000	–	7,701	–	0.09%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$564,000	–	12,125	–	0.09%	–
NSC	New	NORFOLK SOUTHERN	$533,000	–	2,675	–	0.08%	–
NEE	New	NEXTERA ENERGY	$523,000	–	2,552	–	0.08%	–
TD	New	TORONTO DOMINION BANK	$516,000	–	8,850	–	0.08%	–
RY	New	ROYAL BANK CANADA	$488,000	–	6,150	–	0.08%	–
SHW	New	SHERWIN WILLIAMS	$481,000	–	1,050	–	0.07%	–
AZO	New	AUTO ZONE	$467,000	–	425	–	0.07%	–
PFE	New	PFIZER	$440,000	–	10,166	–	0.07%	–
DNKN	New	DUNKIN BRANDS GROUP	$435,000	–	5,466	–	0.07%	–
GOOG	New	ALPHABET INC CL C	$428,000	–	396	–	0.07%	–
NKE	New	NIKE INC CLASS B	$424,000	–	5,047	–	0.06%	–
GIS	New	GENERAL MILLS	$414,000	–	7,885	–	0.06%	–
DRI	New	DARDEN RESTAURANTS	$410,000	–	3,372	–	0.06%	–
IR	New	INGERSOLL RAND PLC	$405,000	–	3,200	–	0.06%	–
ORA	New	ORMAT TECHNOLOGIES	$400,000	–	6,305	–	0.06%	–
FB	New	FACEBOOK INC	$403,000	–	2,087	–	0.06%	–
BNS	New	BANK OF NOVA SCOTIA	$398,000	–	7,320	–	0.06%	–
MDT	New	MEDTRONIC	$378,000	–	3,881	–	0.06%	–
	New	OAKMARK INTL FDequity mutual fu	$357,000	–	15,488	–	0.06%	–
DCI	New	DONALDSON INC	$341,000	–	6,700	–	0.05%	–
CRM	New	SALESFORCE.COM	$336,000	–	2,215	–	0.05%	–
MCD	New	MCDONALDS CORP	$327,000	–	1,575	–	0.05%	–
GE	New	GENERAL ELECTRIC	$320,000	–	30,454	–	0.05%	–
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$320,000	–	4,269	–	0.05%	–
IBM	New	INTL BUSINESS MACH	$312,000	–	2,263	–	0.05%	–
DD	New	DUPONT DE NEMOURS INC	$310,000	–	4,123	–	0.05%	–
	New	FIDELITY ADVISOR NEW INSIGHTSequity mutual fu	$296,000	–	9,000	–	0.05%	–
WMT	New	WAL-MART STORES	$292,000	–	2,640	–	0.04%	–
COST	New	COSTCO WHOLESALE	$291,000	–	1,101	–	0.04%	–
FDS	New	FACTSET RESH SYS	$294,000	–	1,025	–	0.04%	–
PNC	New	PNC FINCL SERVICES	$274,000	–	1,995	–	0.04%	–
AFL	New	AFLAC INC	$269,000	–	4,900	–	0.04%	–
TFX	New	TELEFLEX	$265,000	–	800	–	0.04%	–
HON	New	HONEYWELL INTL	$250,000	–	1,432	–	0.04%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKET	$253,000	–	6,065	–	0.04%	–
OEF	New	ISHARES S&P 100 INDEX FUNDequity mutual fu	$246,000	–	1,900	–	0.04%	–
USB	New	US BANCORP	$247,000	–	4,713	–	0.04%	–
GPC	New	GENUINE PARTS	$238,000	–	2,300	–	0.04%	–
TXN	New	TEXAS INSTRUMENTS	$230,000	–	2,000	–	0.04%	–
COP	New	CONOCOPHILLIPS	$229,000	–	3,748	–	0.04%	–
WBA	New	WALGREEN BOOTS ALLIANCE INC	$224,000	–	4,100	–	0.04%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$228,000	–	1,750	–	0.04%	–
ADBE	New	ADOBE SYS	$225,000	–	765	–	0.04%	–
ZTS	New	ZOETIS INC	$218,000	–	1,925	–	0.03%	–
ICF	New	ISHARES COHEN AND STEERS REALT	$220,000	–	1,950	–	0.03%	–
	New	T ROWE PRICE DIVIDEND GROWTHequity mutual fu	$212,000	–	4,298	–	0.03%	–
	New	NOVOZYMES A S SER B DKK2	$216,000	–	4,625	–	0.03%	–
VNQ	New	VANGUARD REIT	$210,000	–	2,400	–	0.03%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$189,000	–	10,919	–	0.03%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
	Exit	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	-28,751	–	0.00%	–
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-1,797	–	-0.03%	–
PX	Exit	PRAXAIR	$0	–	-1,267	–	-0.03%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.04%	–
ADBE	Exit	ADOBE SYS	$0	–	-765	–	-0.04%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-18,320	–	-0.04%	–
ICF	Exit	ISHARES COHEN AND STEERS REALT	$0	–	-2,163	–	-0.04%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-1,800	–	-0.04%	–
AFL	Exit	AFLAC INC	$0	–	-5,200	–	-0.04%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-2,670	–	-0.04%	–
	Exit	NOVOZYMES A S SER B DKK2	$0	–	-4,700	–	-0.04%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-1,121	–	-0.04%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-2,450	–	-0.04%	–
GPC	Exit	GENUINE PARTS	$0	–	-2,670	–	-0.04%	–
TFX	Exit	TELEFLEX	$0	–	-1,000	–	-0.04%	–
WMT	Exit	WAL-MART STORES	$0	–	-2,927	–	-0.05%	–
OEF	Exit	ISHARES S&P 100 INDEX FUNDequity mutual fu	$0	–	-2,300	–	-0.05%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-1,752	–	-0.05%	–
QCOM	Exit	QUALCOMM	$0	–	-4,084	–	-0.05%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-1,455	–	-0.06%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-3,935	–	-0.06%	–
CRM	Exit	SALESFORCE.COM	$0	–	-2,125	–	-0.06%	–
AMGN	Exit	AMGEN INC	$0	–	-1,762	–	-0.06%	–
ORA	Exit	ORMAT TECHNOLOGIES	$0	–	-6,855	–	-0.06%	–
DRI	Exit	DARDEN RESTAURANTS	$0	–	-3,371	–	-0.06%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-4,844	–	-0.06%	–
AZO	Exit	AUTO ZONE	$0	–	-500	–	-0.06%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-2,592	–	-0.07%	–
IR	Exit	INGERSOLL RAND PLC	$0	–	-3,850	–	-0.07%	–
FB	Exit	FACEBOOK INC	$0	–	-2,397	–	-0.07%	–
DNKN	Exit	DUNKIN BRANDS GROUP	$0	–	-5,466	–	-0.07%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-7,750	–	-0.07%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-348	–	-0.07%	–
DCI	Exit	DONALDSON INC	$0	–	-7,250	–	-0.07%	–
LOW	Exit	LOWES COMPANIES	$0	–	-4,050	–	-0.08%	–
BNS	Exit	BANK OF NOVA SCOTIA	$0	–	-7,800	–	-0.08%	–
	Exit	OAKMARK INTL FDequity mutual fu	$0	–	-19,479	–	-0.09%	–
RY	Exit	ROYAL BANK CANADA	$0	–	-6,550	–	-0.09%	–
MKC	Exit	MCCORMICK & CO	$0	–	-4,085	–	-0.09%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,337	–	-0.09%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-1,250	–	-0.10%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-9,400	–	-0.10%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-7,637	–	-0.10%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-9,330	–	-0.10%	–
CP	Exit	CANADIAN PACIFIC RAILWAYLTD	$0	–	-2,922	–	-0.10%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-12,000	–	-0.11%	–
V	Exit	VISA	$0	–	-4,425	–	-0.11%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-4,040	–	-0.11%	–
PFE	Exit	PFIZER	$0	–	-15,305	–	-0.11%	–
MDT	Exit	MEDTRONIC	$0	–	-6,919	–	-0.12%	–
GIS	Exit	GENERAL MILLS	$0	–	-16,450	–	-0.12%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-13,513	–	-0.12%	–
KO	Exit	COCA COLA	$0	–	-16,104	–	-0.12%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-2,697	–	-0.13%	–
SYY	Exit	SYSCO	$0	–	-11,135	–	-0.14%	–
WBA	Exit	WALGREEN BOOTS ALLIANCE INC	$0	–	-11,455	–	-0.14%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-6,156	–	-0.15%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-3,654	–	-0.15%	–
AMZN	Exit	AMAZON.COM	$0	–	-448	–	-0.15%	–
T	Exit	AT&T INC.	$0	–	-28,401	–	-0.16%	–
SYK	Exit	STRYKER CORP	$0	–	-5,606	–	-0.17%	–
ULTA	Exit	ULTA SALON	$0	–	-3,698	–	-0.18%	–
MTD	Exit	METTLER TOLEDO	$0	–	-1,898	–	-0.20%	–
UNH	Exit	UNITED HEALTH GROUP	$0	–	-4,400	–	-0.20%	–
APH	Exit	AMPHENOL	$0	–	-14,350	–	-0.23%	–
PEP	Exit	PEPSICO	$0	–	-12,598	–	-0.24%	–
	Exit	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$0	–	-94,341	–	-0.24%	–
DIS	Exit	DISNEY	$0	–	-12,621	–	-0.25%	–
AAGIY	Exit	AIA GROUP LTD SPON ADR EA REPR	$0	–	-44,130	–	-0.26%	–
TJX	Exit	TJX COS	$0	–	-14,212	–	-0.27%	–
AMT	Exit	AMERICAN TOWER	$0	–	-11,784	–	-0.29%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-26,140	–	-0.30%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-51,332	–	-0.31%	–
ORCL	Exit	ORACLE	$0	–	-36,271	–	-0.32%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-115,472	–	-0.33%	–
ECL	Exit	ECOLAB INC	$0	–	-13,002	–	-0.34%	–
IDXX	Exit	IDEXX CORP	$0	–	-8,757	–	-0.37%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-40,074	–	-0.40%	–
	Exit	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$0	–	-135,061	–	-0.45%	–
MRK	Exit	MERCK	$0	–	-37,737	–	-0.45%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-38,664	–	-0.46%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-13,280	–	-0.48%	–
NVDA	Exit	NVIDIA CORP	$0	–	-10,154	–	-0.48%	–
SLB	Exit	SCHLUMBERGER	$0	–	-52,995	–	-0.54%	–
ABBV	Exit	ABBVIE	$0	–	-34,263	–	-0.55%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-51,076	–	-0.66%	–
SJM	Exit	SMUCKER J M	$0	–	-43,139	–	-0.75%	–
	Exit	ORSTED A S	$0	–	-66,210	–	-0.76%	–
UNP	Exit	UNION PACIFIC	$0	–	-27,665	–	-0.76%	–
XYL	Exit	XYLEM INC	$0	–	-58,939	–	-0.79%	–
FTV	Exit	FORTIVE CORP	$0	–	-60,075	–	-0.85%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-61,710	–	-0.94%	–
CSCO	Exit	CISCO SYS INC	$0	–	-117,243	–	-0.96%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-198,095	–	-1.01%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-40,122	–	-1.06%	–
XOM	Exit	EXXON MOBIL	$0	–	-77,900	–	-1.12%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-79,711	–	-1.18%	–
CELG	Exit	CELGENE CORP	$0	–	-82,536	–	-1.24%	–
CVX	Exit	CHEVRON	$0	–	-65,318	–	-1.35%	–
INTC	Exit	INTEL CORP	$0	–	-195,832	–	-1.56%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-193,628	–	-1.78%	–
EOG	Exit	EOG RESOURCES	$0	–	-85,445	–	-1.84%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-59,756	–	-1.89%	–
CVS	Exit	CVS HEALTH	$0	–	-147,903	–	-1.96%	–
XLNX	Exit	XILINX	$0	–	-147,833	–	-2.00%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-147,120	–	-2.06%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-232,769	–	-2.16%	–
ILMN	Exit	ILLUMINA	$0	–	-35,580	–	-2.20%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-171,006	–	-2.40%	–
HD	Exit	HOME DEPOT	$0	–	-69,045	–	-2.41%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-128,743	–	-2.48%	–
ATR	Exit	APTARGROUP	$0	–	-143,764	–	-2.61%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-112,714	–	-2.66%	–
CB	Exit	CHUBB LIMITED	$0	–	-123,495	–	-2.78%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-192,930	–	-2.80%	–
ADI	Exit	ANALOG DEVICES	$0	–	-183,327	–	-2.86%	–
MMM	Exit	3M	$0	–	-83,676	–	-2.97%	–
DHR	Exit	DANAHER CORP	$0	–	-166,979	–	-3.06%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-134,229	–	-3.12%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-217,614	–	-3.29%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-17,405	–	-3.54%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-140,862	–	-3.58%	–
ABT	Exit	ABBOTT LABS	$0	–	-289,857	–	-3.58%	–
FISV	Exit	FISERV	$0	–	-265,535	–	-3.68%	–
MA	Exit	MASTERCARD	$0	–	-105,926	–	-3.97%	–
AAPL	Exit	APPLE INC	$0	–	-115,913	–	-4.41%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$26,166,000	+16.7%	115,913	-4.3%	4.41%	+6.6%
MA	Sell	MASTERCARD	$23,580,000	+6.9%	105,926	-5.6%	3.97%	-2.4%
FISV	Buy	FISERV	$21,875,000	+13.5%	265,535	+2.1%	3.68%	+3.6%
ABT	Buy	ABBOTT LABS	$21,264,000	+21.6%	289,857	+1.1%	3.58%	+11.0%
ADP	Sell	AUTOMATIC DATA PROCESSING	$21,222,000	+1.4%	140,862	-9.7%	3.58%	-7.5%
GOOGL	Buy	ALPHABET INC CL A	$21,010,000	+8.3%	17,405	+1.4%	3.54%	-1.1%
CNI	Buy	CANADIAN NATL RAILWAY	$19,542,000	+11.6%	217,614	+1.6%	3.29%	+1.8%
JNJ	Buy	JOHNSON & JOHNSON	$18,546,000	+16.9%	134,229	+2.7%	3.12%	+6.7%
DHR	Buy	DANAHER CORP	$18,144,000	+13.1%	166,979	+2.7%	3.06%	+3.2%
MMM	Buy	3M	$17,631,000	+11.9%	83,676	+4.4%	2.97%	+2.1%
ADI	Buy	ANALOG DEVICES	$16,950,000	-0.7%	183,327	+3.0%	2.86%	-9.3%
NVS	Buy	NOVARTIS AG ADR	$16,623,000	+17.0%	192,930	+2.6%	2.80%	+6.8%
CB	Buy	CHUBB LIMITED	$16,504,000	+9.8%	123,495	+4.3%	2.78%	+0.2%
UTX	Buy	UNITED TECHNOLOGIES	$15,759,000	+16.0%	112,714	+3.7%	2.66%	+5.9%
ATR	Buy	APTARGROUP	$15,489,000	+18.6%	143,764	+2.7%	2.61%	+8.2%
MSFT	Buy	MICROSOFT CORP	$14,724,000	+19.4%	128,743	+2.9%	2.48%	+9.0%
HD	Buy	HOME DEPOT	$14,303,000	+10.6%	69,045	+4.2%	2.41%	+1.0%
NSRGY	Buy	NESTLE SA ADR	$14,228,000	+13.5%	171,006	+5.6%	2.40%	+3.6%
ILMN	Sell	ILLUMINA	$13,060,000	+17.8%	35,580	-10.4%	2.20%	+7.5%
UL	Buy	UNILEVER PLC NEW ADR	$12,795,000	+5.5%	232,769	+6.1%	2.16%	-3.7%
PG	Buy	PROCTER & GAMBLE	$12,245,000	+7.2%	147,120	+0.5%	2.06%	-2.2%
XLNX	Buy	XILINX	$11,852,000	+27.5%	147,833	+3.8%	2.00%	+16.4%
CVS	Sell	CVS HEALTH	$11,643,000	+17.8%	147,903	-3.7%	1.96%	+7.5%
ROK	Buy	ROCKWELL AUTOMATION	$11,205,000	+15.0%	59,756	+1.9%	1.89%	+5.0%
EOG	Buy	EOG RESOURCES	$10,900,000	+7.4%	85,445	+4.7%	1.84%	-2.0%
	Buy	NOVOZYMES A S DKK 2.0	$10,596,000	+8.9%	193,628	+0.8%	1.78%	-0.6%
INTC	Buy	INTEL CORP	$9,261,000	-2.7%	195,832	+2.3%	1.56%	-11.2%
CVX	Buy	CHEVRON	$7,987,000	+0.7%	65,318	+4.1%	1.35%	-8.1%
CELG	Buy	CELGENE CORP	$7,386,000	+33.4%	82,536	+18.4%	1.24%	+21.7%
PYPL	Buy	PAYPAL HOLDINGS	$7,002,000	+31.5%	79,711	+24.7%	1.18%	+20.2%
XOM	Sell	EXXON MOBIL	$6,623,000	-25.3%	77,900	-27.3%	1.12%	-31.8%
IPGP	Buy	IPG PHOTONICS	$6,262,000	-22.0%	40,122	+10.2%	1.06%	-28.8%
RHHBY	Sell	ROCHE HLDG LTD ADR	$5,975,000	-3.3%	198,095	-11.4%	1.01%	-11.7%
CSCO	Buy	CISCO SYS INC	$5,704,000	+14.2%	117,243	+1.0%	0.96%	+4.2%
FTV	Buy	FORTIVE CORP	$5,058,000	+12.2%	60,075	+2.7%	0.85%	+2.4%
XYL	Sell	XYLEM INC	$4,707,000	+17.8%	58,939	-0.6%	0.79%	+7.6%
UNP	Sell	UNION PACIFIC	$4,505,000	+14.5%	27,665	-0.4%	0.76%	+4.5%
	Buy	ORSTED A S	$4,483,000	+112.9%	66,210	+90.0%	0.76%	+94.1%
SJM	Sell	SMUCKER J M	$4,426,000	-15.0%	43,139	-10.9%	0.75%	-22.4%
EMR	Sell	EMERSON ELECTRIC	$3,911,000	+9.6%	51,076	-1.1%	0.66%	0.0%
ABBV	Buy	ABBVIE	$3,241,000	+6.2%	34,263	+4.0%	0.55%	-3.2%
SLB	Sell	SCHLUMBERGER	$3,228,000	-28.8%	52,995	-21.7%	0.54%	-35.0%
NVDA	Buy	NVIDIA CORP	$2,853,000	+28.5%	10,154	+8.3%	0.48%	+17.3%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$2,843,000	+14.3%	13,280	-0.4%	0.48%	+4.4%
MRK	Buy	MERCK	$2,677,000	+22.0%	37,737	+4.4%	0.45%	+11.4%
CHD	Sell	CHURCH & DWIGHT	$2,379,000	+8.3%	40,074	-3.0%	0.40%	-1.2%
IDXX	Sell	IDEXX CORP	$2,186,000	+9.9%	8,757	-4.1%	0.37%	+0.3%
ECL	Buy	ECOLAB INC	$2,038,000	+19.6%	13,002	+7.0%	0.34%	+8.9%
ORCL	Sell	ORACLE	$1,870,000	-29.1%	36,271	-39.4%	0.32%	-35.3%
CL	Buy	COLGATE-PALMOLIVE	$1,750,000	+5.0%	26,140	+1.7%	0.30%	-4.2%
AMT	Buy	AMERICAN TOWER	$1,712,000	+6.5%	11,784	+5.7%	0.29%	-3.0%
TJX	Buy	TJX COS	$1,592,000	+18.1%	14,212	+0.4%	0.27%	+7.6%
AAGIY	Buy	AIA GROUP LTD SPON ADR EA REPR	$1,571,000	+14.7%	44,130	+12.8%	0.26%	+4.7%
DIS	Buy	DISNEY	$1,476,000	+40.4%	12,621	+25.8%	0.25%	+28.4%
PEP	Sell	PEPSICO	$1,408,000	+1.4%	12,598	-1.2%	0.24%	-7.4%
APH	Buy	AMPHENOL	$1,349,000	+11.1%	14,350	+3.0%	0.23%	+1.3%
UNH	New	UNITED HEALTH GROUP	$1,171,000	–	4,400	–	0.20%	–
SYK	Sell	STRYKER CORP	$996,000	-0.1%	5,606	-5.1%	0.17%	-8.7%
T	Sell	AT&T INC.	$954,000	-4.3%	28,401	-8.5%	0.16%	-12.5%
AMZN	Sell	AMAZON.COM	$898,000	-1.0%	448	-15.9%	0.15%	-9.6%
ITW	Sell	ILLINOIS TOOL WORKS	$869,000	-6.0%	6,156	-7.7%	0.15%	-14.6%
WBA	Sell	WALGREEN BOOTS ALLIANCE INC	$835,000	+7.1%	11,455	-11.9%	0.14%	-2.1%
SYY	Sell	SYSCO	$816,000	+2.5%	11,135	-4.4%	0.14%	-6.8%
KO	Buy	COCA COLA	$744,000	+18.7%	16,104	+12.6%	0.12%	+7.8%
VZ	Buy	VERIZON COMMUNICATIONS	$721,000	+15.0%	13,513	+8.5%	0.12%	+4.3%
GIS	Sell	GENERAL MILLS	$706,000	-3.3%	16,450	-0.3%	0.12%	-11.9%
MDT	Sell	MEDTRONIC	$681,000	+7.4%	6,919	-6.5%	0.12%	-1.7%
PFE	Buy	PFIZER	$674,000	+29.9%	15,305	+6.9%	0.11%	+18.8%
APD	Sell	AIR PRODUCTS & CHEM	$675,000	+4.7%	4,040	-2.4%	0.11%	-4.2%
V	Buy	VISA	$664,000	+20.1%	4,425	+6.0%	0.11%	+9.8%
NVZMY	Buy	NOVOZYMES UNSPN ADR	$657,000	+11.0%	12,000	+2.3%	0.11%	+1.8%
CP	Buy	CANADIAN PACIFIC RAILWAYLTD	$619,000	+47.4%	2,922	+27.3%	0.10%	+33.3%
DWDP	Buy	DOWDUPONT INC	$600,000	+1.0%	9,330	+3.6%	0.10%	-8.2%
GILD	Sell	GILEAD SCIENCES	$590,000	-71.6%	7,637	-74.0%	0.10%	-74.2%
MCD	Buy	MCDONALDS CORP	$558,000	+21.3%	3,337	+13.6%	0.09%	+10.6%
RY	Sell	ROYAL BANK CANADA	$525,000	-2.4%	6,550	-8.4%	0.09%	-11.1%
	Sell	OAKMARK INTL FDequity mutual fu	$517,000	-30.0%	19,479	-31.3%	0.09%	-36.0%
LOW	Sell	LOWES COMPANIES	$465,000	-3.7%	4,050	-19.8%	0.08%	-12.4%
GOOG	Buy	ALPHABET INC CL C	$416,000	+22.7%	348	+14.9%	0.07%	+11.1%
DNKN	Sell	DUNKIN BRANDS GROUP	$403,000	+2.8%	5,466	-3.7%	0.07%	-5.6%
IR	Sell	INGERSOLL RAND PLC	$394,000	+11.3%	3,850	-2.5%	0.07%	+1.5%
IBM	Sell	INTL BUSINESS MACH	$392,000	-4.6%	2,592	-11.9%	0.07%	-13.2%
FB	Buy	FACEBOOK INC	$394,000	-6.6%	2,397	+10.4%	0.07%	-15.4%
ORA	Buy	ORMAT TECHNOLOGIES	$371,000	+1.9%	6,855	+0.3%	0.06%	-6.0%
CRM	Sell	SALESFORCE.COM	$338,000	-12.2%	2,125	-24.8%	0.06%	-19.7%
NKE	Sell	NIKE INC CLASS B	$333,000	-7.8%	3,935	-13.2%	0.06%	-16.4%
OEF	Sell	ISHARES S&P 100 INDEX FUNDequity mutual fu	$298,000	-11.0%	2,300	-17.9%	0.05%	-19.4%
QCOM	Sell	QUALCOMM	$294,000	+4.6%	4,084	-18.4%	0.05%	-3.8%
WMT	Sell	WAL-MART STORES	$275,000	+6.2%	2,927	-3.3%	0.05%	-4.2%
TXN	Sell	TEXAS INSTRUMENTS	$263,000	-11.7%	2,450	-9.3%	0.04%	-20.0%
COST	New	COSTCO WHOLESALE	$263,000	–	1,121	–	0.04%	–
ESRX	Sell	EXPRESS SCRIPTS	$254,000	+10.9%	2,670	-10.1%	0.04%	+2.4%
	Buy	NOVOZYMES A S SER B DKK2	$258,000	+18.3%	4,700	+9.3%	0.04%	+7.5%
GE	Sell	GENERAL ELECTRIC	$207,000	-35.1%	18,320	-21.9%	0.04%	-40.7%
ADBE	New	ADOBE SYS	$207,000	–	765	–	0.04%	–
JPM	Sell	JPMORGAN CHASE	$203,000	-34.9%	1,797	-40.0%	0.03%	-41.4%
PX	Sell	PRAXAIR	$204,000	0.0%	1,267	-1.9%	0.03%	-10.5%
	Buy	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	28,751	+3.3%	0.00%	–
	Exit	BUFFALO INTERNATIONAL FUNDequity mutual fu	$0	–	-12,546	–	-0.04%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-4,130	–	-0.04%	–
SBUX	Exit	STARBUCKS	$0	–	-4,600	–	-0.04%	–
CTSH	Exit	COGNIZANT TECH SOLUTNS A	$0	–	-2,938	–	-0.04%	–
STT	Exit	STATE STREET	$0	–	-2,597	–	-0.04%	–
IVV	Exit	ISHARES S&P 500	$0	–	-898	–	-0.04%	–
	Exit	MATTHEWS PACIFIC TIGER INSTLequity mutual fu	$0	–	-11,060	–	-0.06%	–
USB	Exit	US BANCORP	$0	–	-8,058	–	-0.07%	–
	Exit	JOHN HANCOCK INTERNATIONAL SELequity mutual fu	$0	–	-19,922	–	-0.09%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$22,414,000	–	121,085	–	4.14%	–
MA	New	MASTERCARD	$22,050,000	–	112,202	–	4.07%	–
ADP	New	AUTOMATIC DATA PROCESSING	$20,928,000	–	156,014	–	3.86%	–
GOOGL	New	ALPHABET INC CL A	$19,391,000	–	17,172	–	3.58%	–
FISV	New	FISERV	$19,266,000	–	260,029	–	3.56%	–
CNI	New	CANADIAN NATL RAILWAY	$17,516,000	–	214,265	–	3.23%	–
ABT	New	ABBOTT LABS	$17,482,000	–	286,632	–	3.23%	–
ADI	New	ANALOG DEVICES	$17,068,000	–	177,936	–	3.15%	–
DHR	New	DANAHER CORP	$16,044,000	–	162,582	–	2.96%	–
JNJ	New	JOHNSON & JOHNSON	$15,862,000	–	130,723	–	2.93%	–
MMM	New	3M	$15,763,000	–	80,127	–	2.91%	–
CB	New	CHUBB LIMITED	$15,035,000	–	118,369	–	2.78%	–
NVS	New	NOVARTIS AG ADR	$14,203,000	–	188,019	–	2.62%	–
UTX	New	UNITED TECHNOLOGIES	$13,587,000	–	108,673	–	2.51%	–
ATR	New	APTARGROUP	$13,065,000	–	139,917	–	2.41%	–
HD	New	HOME DEPOT	$12,929,000	–	66,267	–	2.39%	–
NSRGY	New	NESTLE SA ADR	$12,538,000	–	161,925	–	2.31%	–
MSFT	New	MICROSOFT CORP	$12,333,000	–	125,072	–	2.28%	–
UL	New	UNILEVER PLC NEW ADR	$12,124,000	–	219,313	–	2.24%	–
PG	New	PROCTER & GAMBLE	$11,427,000	–	146,387	–	2.11%	–
ILMN	New	ILLUMINA	$11,090,000	–	39,709	–	2.05%	–
EOG	New	EOG RESOURCES	$10,153,000	–	81,600	–	1.87%	–
CVS	New	CVS HEALTH	$9,886,000	–	153,631	–	1.82%	–
ROK	New	ROCKWELL AUTOMATION	$9,744,000	–	58,615	–	1.80%	–
	New	NOVOZYMES A S DKK 2.0	$9,730,000	–	192,067	–	1.80%	–
INTC	New	INTEL CORP	$9,514,000	–	191,389	–	1.76%	–
XLNX	New	XILINX	$9,295,000	–	142,435	–	1.72%	–
XOM	New	EXXON MOBIL	$8,866,000	–	107,168	–	1.64%	–
IPGP	New	IPG PHOTONICS	$8,032,000	–	36,404	–	1.48%	–
CVX	New	CHEVRON	$7,933,000	–	62,746	–	1.46%	–
RHHBY	New	ROCHE HLDG LTD ADR	$6,180,000	–	223,684	–	1.14%	–
CELG	New	CELGENE CORP	$5,536,000	–	69,706	–	1.02%	–
PYPL	New	PAYPAL HOLDINGS	$5,323,000	–	63,920	–	0.98%	–
SJM	New	SMUCKER J M	$5,205,000	–	48,431	–	0.96%	–
WM	New	WASTE MANAGEMENT INC	$5,019,000	–	61,710	–	0.93%	–
CSCO	New	CISCO SYS INC	$4,996,000	–	116,111	–	0.92%	–
SLB	New	SCHLUMBERGER	$4,534,000	–	67,645	–	0.84%	–
FTV	New	FORTIVE CORP	$4,508,000	–	58,468	–	0.83%	–
XYL	New	XYLEM INC	$3,995,000	–	59,297	–	0.74%	–
UNP	New	UNION PACIFIC	$3,934,000	–	27,766	–	0.73%	–
EMR	New	EMERSON ELECTRIC	$3,569,000	–	51,626	–	0.66%	–
ABBV	New	ABBVIE	$3,053,000	–	32,952	–	0.56%	–
SIX	New	SIX FLAGS ENTERTAINMENT	$2,708,000	–	38,664	–	0.50%	–
ORCL	New	ORACLE	$2,638,000	–	59,884	–	0.49%	–
	New	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$2,595,000	–	135,061	–	0.48%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$2,488,000	–	13,332	–	0.46%	–
NVDA	New	NVIDIA CORP	$2,221,000	–	9,377	–	0.41%	–
CHD	New	CHURCH & DWIGHT	$2,197,000	–	41,324	–	0.41%	–
MRK	New	MERCK	$2,194,000	–	36,147	–	0.40%	–
	New	ORSTED A S	$2,106,000	–	34,855	–	0.39%	–
GILD	New	GILEAD SCIENCES	$2,081,000	–	29,378	–	0.38%	–
IDXX	New	IDEXX CORP	$1,989,000	–	9,127	–	0.37%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,893,000	–	115,472	–	0.35%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,769,000	–	51,332	–	0.33%	–
ECL	New	ECOLAB INC	$1,704,000	–	12,146	–	0.32%	–
CL	New	COLGATE-PALMOLIVE	$1,667,000	–	25,715	–	0.31%	–
AMT	New	AMERICAN TOWER	$1,608,000	–	11,153	–	0.30%	–
PEP	New	PEPSICO	$1,388,000	–	12,748	–	0.26%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$1,386,000	–	94,341	–	0.26%	–
AAGIY	New	AIA GROUP LTD SPON ADR EA REPR	$1,370,000	–	39,129	–	0.25%	–
TJX	New	TJX COS	$1,348,000	–	14,162	–	0.25%	–
APH	New	AMPHENOL	$1,214,000	–	13,935	–	0.22%	–
MTD	New	METTLER TOLEDO	$1,098,000	–	1,898	–	0.20%	–
DIS	New	DISNEY	$1,051,000	–	10,029	–	0.19%	–
T	New	AT&T INC.	$997,000	–	31,049	–	0.18%	–
SYK	New	STRYKER CORP	$997,000	–	5,906	–	0.18%	–
ITW	New	ILLINOIS TOOL WORKS	$924,000	–	6,666	–	0.17%	–
AMZN	New	AMAZON.COM	$907,000	–	533	–	0.17%	–
ULTA	New	ULTA SALON	$863,000	–	3,698	–	0.16%	–
SYY	New	SYSCO	$796,000	–	11,652	–	0.15%	–
WBA	New	WALGREEN BOOTS ALLIANCE INC	$780,000	–	13,005	–	0.14%	–
TMO	New	THERMO FISHER SCIENTIFIC	$757,000	–	3,654	–	0.14%	–
	New	OAKMARK INTL FDequity mutual fu	$739,000	–	28,338	–	0.14%	–
GIS	New	GENERAL MILLS	$730,000	–	16,500	–	0.14%	–
SPY	New	SPDR S&P 500 ETF	$732,000	–	2,697	–	0.14%	–
APD	New	AIR PRODUCTS & CHEM	$645,000	–	4,140	–	0.12%	–
MDT	New	MEDTRONIC	$634,000	–	7,401	–	0.12%	–
KO	New	COCA COLA	$627,000	–	14,304	–	0.12%	–
VZ	New	VERIZON COMMUNICATIONS	$627,000	–	12,453	–	0.12%	–
DWDP	New	DOWDUPONT INC	$594,000	–	9,010	–	0.11%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$592,000	–	11,730	–	0.11%	–
V	New	VISA	$553,000	–	4,175	–	0.10%	–
TD	New	TORONTO DOMINION BANK	$544,000	–	9,400	–	0.10%	–
RY	New	ROYAL BANK CANADA	$538,000	–	7,150	–	0.10%	–
PFE	New	PFIZER	$519,000	–	14,319	–	0.10%	–
SHW	New	SHERWIN WILLIAMS	$509,000	–	1,250	–	0.09%	–
LOW	New	LOWES COMPANIES	$483,000	–	5,050	–	0.09%	–
MKC	New	MCCORMICK & CO	$474,000	–	4,085	–	0.09%	–
	New	JOHN HANCOCK INTERNATIONAL SELequity mutual fu	$468,000	–	19,922	–	0.09%	–
MCD	New	MCDONALDS CORP	$460,000	–	2,937	–	0.08%	–
BNS	New	BANK OF NOVA SCOTIA	$446,000	–	7,800	–	0.08%	–
FB	New	FACEBOOK INC	$422,000	–	2,172	–	0.08%	–
CP	New	CANADIAN PACIFIC RAILWAYLTD	$420,000	–	2,296	–	0.08%	–
IBM	New	INTL BUSINESS MACH	$411,000	–	2,942	–	0.08%	–
USB	New	US BANCORP	$403,000	–	8,058	–	0.07%	–
DNKN	New	DUNKIN BRANDS GROUP	$392,000	–	5,674	–	0.07%	–
CRM	New	SALESFORCE.COM	$385,000	–	2,825	–	0.07%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$372,000	–	7,750	–	0.07%	–
ORA	New	ORMAT TECHNOLOGIES	$364,000	–	6,835	–	0.07%	–
DRI	New	DARDEN RESTAURANTS	$361,000	–	3,371	–	0.07%	–
NKE	New	NIKE INC CLASS B	$361,000	–	4,535	–	0.07%	–
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$361,000	–	4,844	–	0.07%	–
IR	New	INGERSOLL RAND PLC	$354,000	–	3,950	–	0.06%	–
GOOG	New	ALPHABET INC CL C	$339,000	–	303	–	0.06%	–
OEF	New	ISHARES S&P 100 INDEX FUNDequity mutual fu	$335,000	–	2,800	–	0.06%	–
AZO	New	AUTO ZONE	$335,000	–	500	–	0.06%	–
	New	MATTHEWS PACIFIC TIGER INSTLequity mutual fu	$331,000	–	11,060	–	0.06%	–
AMGN	New	AMGEN INC	$325,000	–	1,762	–	0.06%	–
DCI	New	DONALDSON INC	$327,000	–	7,250	–	0.06%	–
GE	New	GENERAL ELECTRIC	$319,000	–	23,470	–	0.06%	–
JPM	New	JPMORGAN CHASE	$312,000	–	2,997	–	0.06%	–
TXN	New	TEXAS INSTRUMENTS	$298,000	–	2,702	–	0.06%	–
NEE	New	NEXTERA ENERGY	$293,000	–	1,752	–	0.05%	–
FDS	New	FACTSET RESH SYS	$288,000	–	1,455	–	0.05%	–
QCOM	New	QUALCOMM	$281,000	–	5,007	–	0.05%	–
TFX	New	TELEFLEX	$268,000	–	1,000	–	0.05%	–
WMT	New	WAL-MART STORES	$259,000	–	3,027	–	0.05%	–
STT	New	STATE STREET	$242,000	–	2,597	–	0.04%	–
IVV	New	ISHARES S&P 500	$245,000	–	898	–	0.04%	–
GPC	New	GENUINE PARTS	$245,000	–	2,670	–	0.04%	–
CTSH	New	COGNIZANT TECH SOLUTNS A	$232,000	–	2,938	–	0.04%	–
BMY	New	BRISTOL-MYERS SQUIBB	$229,000	–	4,130	–	0.04%	–
ESRX	New	EXPRESS SCRIPTS	$229,000	–	2,970	–	0.04%	–
SBUX	New	STARBUCKS	$225,000	–	4,600	–	0.04%	–
AFL	New	AFLAC INC	$224,000	–	5,200	–	0.04%	–
	New	NOVOZYMES A S SER B DKK2	$218,000	–	4,300	–	0.04%	–
ICF	New	ISHARES COHEN AND STEERS REALT	$216,000	–	2,163	–	0.04%	–
PX	New	PRAXAIR	$204,000	–	1,292	–	0.04%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$204,000	–	10,919	–	0.04%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$201,000	–	1,800	–	0.04%	–
	New	BUFFALO INTERNATIONAL FUNDequity mutual fu	$192,000	–	12,546	–	0.04%	–
	New	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	27,836	–	0.00%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
CRVW	Exit	CAREVIEW COMMUNICATIONS	$0	–	-10,000	–	0.00%	–
	Exit	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	-392,431	–	0.00%	–
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
	Exit	T ROWE PRICE GROWTH STOCKequity mutual fu	$0	–	-3,000	–	-0.04%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.04%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-2,000	–	-0.05%	–
WMT	Exit	WAL-MART STORES	$0	–	-2,797	–	-0.05%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-4,200	–	-0.05%	–
	Exit	JPMORGAN GLOBAL RESEARCH ENHANequity mutual fu	$0	–	-10,256	–	-0.05%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-3,804	–	-0.05%	–
ETP	Exit	ENERGY TRANSFER PTNRS LP	$0	–	-12,582	–	-0.05%	–
DRI	Exit	DARDEN RESTAURANTS	$0	–	-3,259	–	-0.05%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-2,900	–	-0.05%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-1,897	–	-0.06%	–
	Exit	DODGE & COX STOCK FUNDequity mutual fu	$0	–	-1,361	–	-0.06%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-295	–	-0.06%	–
GPC	Exit	GENUINE PARTS	$0	–	-2,940	–	-0.06%	–
AZO	Exit	AUTO ZONE	$0	–	-500	–	-0.06%	–
NXPI	Exit	NXP SEMICONDUCTORS	$0	–	-2,607	–	-0.06%	–
LOW	Exit	LOWES COMPANIES	$0	–	-3,700	–	-0.06%	–
	Exit	HARBOR INTERNATIONAL FUND INVEequity mutual fu	$0	–	-4,302	–	-0.06%	–
DNKN	Exit	DUNKIN BRANDS GROUP	$0	–	-5,674	–	-0.06%	–
MKC	Exit	MCCORMICK & CO	$0	–	-2,950	–	-0.06%	–
	Exit	OAKMARK EQUITY AND INCOME FUNDequity mutual fu	$0	–	-9,031	–	-0.06%	–
AMZN	Exit	AMAZON.COM	$0	–	-322	–	-0.06%	–
TFX	Exit	TELEFLEX	$0	–	-1,300	–	-0.07%	–
CRM	Exit	SALESFORCE.COM	$0	–	-3,475	–	-0.07%	–
ALNY	Exit	ALNYLAM PHARMA	$0	–	-2,798	–	-0.07%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-4,846	–	-0.07%	–
SPG	Exit	SIMON PROPERTY GROUP	$0	–	-2,129	–	-0.07%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-2,590	–	-0.08%	–
AFL	Exit	AFLAC INC	$0	–	-4,857	–	-0.08%	–
FB	Exit	FACEBOOK INC	$0	–	-2,347	–	-0.08%	–
IR	Exit	INGERSOLL RAND PLC	$0	–	-4,500	–	-0.08%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-6,108	–	-0.09%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-2,275	–	-0.09%	–
DCI	Exit	DONALDSON INC	$0	–	-9,100	–	-0.09%	–
MTD	Exit	METTLER TOLEDO	$0	–	-699	–	-0.09%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-3,060	–	-0.09%	–
AMT	Exit	AMERICAN TOWER	$0	–	-3,351	–	-0.10%	–
CP	Exit	CANADIAN PACIFIC RAILWAYLTD	$0	–	-2,776	–	-0.10%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-7,750	–	-0.10%	–
BNS	Exit	BANK OF NOVA SCOTIA	$0	–	-7,800	–	-0.10%	–
TR	Exit	TOOTSIE ROLL	$0	–	-13,414	–	-0.11%	–
MKTX	Exit	MARKETAXESS HOLDINGS INC	$0	–	-2,806	–	-0.11%	–
OEF	Exit	ISHARES S&P 100 INDEX FUNDequity mutual fu	$0	–	-4,653	–	-0.11%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-10,155	–	-0.11%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-9,650	–	-0.11%	–
V	Exit	VISA	$0	–	-5,229	–	-0.12%	–
QCOM	Exit	QUALCOMM	$0	–	-11,112	–	-0.12%	–
RY	Exit	ROYAL BANK CANADA	$0	–	-7,625	–	-0.12%	–
IRM	Exit	IRON MOUNTAIN	$0	–	-15,401	–	-0.12%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-1,750	–	-0.13%	–
SYY	Exit	SYSCO	$0	–	-12,112	–	-0.14%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-13,456	–	-0.14%	–
	Exit	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$0	–	-47,728	–	-0.14%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-10,960	–	-0.15%	–
APH	Exit	AMPHENOL	$0	–	-9,372	–	-0.17%	–
PFE	Exit	PFIZER	$0	–	-22,579	–	-0.17%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-33,660	–	-0.17%	–
KO	Exit	COCA COLA	$0	–	-19,004	–	-0.18%	–
MDT	Exit	MEDTRONIC	$0	–	-11,251	–	-0.18%	–
GIS	Exit	GENERAL MILLS	$0	–	-17,654	–	-0.19%	–
DIS	Exit	DISNEY	$0	–	-9,590	–	-0.20%	–
SYK	Exit	STRYKER CORP	$0	–	-6,659	–	-0.20%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-6,600	–	-0.20%	–
PEP	Exit	PEPSICO	$0	–	-8,983	–	-0.21%	–
WBA	Exit	WALGREEN BOOTS ALLIANCE INC	$0	–	-13,384	–	-0.22%	–
NVDA	Exit	NVIDIA CORP	$0	–	-6,060	–	-0.23%	–
TJX	Exit	TJX COS	$0	–	-14,842	–	-0.23%	–
ECL	Exit	ECOLAB INC	$0	–	-8,520	–	-0.23%	–
IDXX	Exit	IDEXX CORP	$0	–	-7,524	–	-0.24%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-25,203	–	-0.26%	–
T	Exit	AT&T INC.	$0	–	-32,762	–	-0.27%	–
SEP	Exit	SPECTRA ENERGY PARTNERS LP	$0	–	-30,000	–	-0.28%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-23,325	–	-0.36%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-51,207	–	-0.37%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-112,536	–	-0.38%	–
	Exit	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$0	–	-108,394	–	-0.41%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-11,107	–	-0.42%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-38,460	–	-0.49%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-45,360	–	-0.49%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-9,748	–	-0.51%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-32,673	–	-0.55%	–
ABBV	Exit	ABBVIE	$0	–	-31,530	–	-0.58%	–
UNP	Exit	UNION PACIFIC	$0	–	-26,666	–	-0.64%	–
FTV	Exit	FORTIVE CORP	$0	–	-44,454	–	-0.66%	–
MRK	Exit	MERCK	$0	–	-55,697	–	-0.74%	–
XYL	Exit	XYLEM INC	$0	–	-59,955	–	-0.78%	–
CSCO	Exit	CISCO SYS INC	$0	–	-115,632	–	-0.81%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-63,432	–	-0.83%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-61,720	–	-1.01%	–
EOG	Exit	EOG RESOURCES	$0	–	-51,399	–	-1.04%	–
ORCL	Exit	ORACLE	$0	–	-125,221	–	-1.26%	–
CVX	Exit	CHEVRON	$0	–	-57,300	–	-1.41%	–
INTC	Exit	INTEL CORP	$0	–	-178,099	–	-1.42%	–
SLB	Exit	SCHLUMBERGER	$0	–	-101,234	–	-1.47%	–
SJM	Exit	SMUCKER J M	$0	–	-70,896	–	-1.55%	–
ILMN	Exit	ILLUMINA	$0	–	-37,668	–	-1.57%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-238,283	–	-1.59%	–
XLNX	Exit	XILINX	$0	–	-125,479	–	-1.86%	–
XOM	Exit	EXXON MOBIL	$0	–	-110,259	–	-1.89%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-50,068	–	-1.93%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-125,026	–	-1.94%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-56,300	–	-2.10%	–
HD	Exit	HOME DEPOT	$0	–	-61,480	–	-2.10%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-196,925	–	-2.10%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-91,149	–	-2.21%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-185,193	–	-2.24%	–
ATR	Exit	APTARGROUP	$0	–	-133,253	–	-2.40%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-146,954	–	-2.58%	–
CVS	Exit	CVS HEALTH	$0	–	-156,214	–	-2.65%	–
DHR	Exit	DANAHER CORP	$0	–	-149,266	–	-2.67%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-142,706	–	-2.71%	–
ADI	Exit	ANALOG DEVICES	$0	–	-156,364	–	-2.81%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-162,288	–	-2.91%	–
ABT	Exit	ABBOTT LABS	$0	–	-267,738	–	-2.98%	–
CB	Exit	CHUBB LIMITED	$0	–	-102,608	–	-3.05%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-15,760	–	-3.20%	–
MA	Exit	MASTERCARD	$0	–	-111,013	–	-3.27%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-190,213	–	-3.29%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-123,000	–	-3.34%	–
FISV	Exit	FISERV	$0	–	-124,390	–	-3.35%	–
MMM	Exit	3M	$0	–	-77,607	–	-3.40%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-149,628	–	-3.42%	–
AAPL	Exit	APPLE INC	$0	–	-123,346	–	-3.97%	–

Q3 2017

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$19,010,000	+8.2%	123,346	+1.1%	3.97%	+1.6%
ADP	Sell	AUTOMATIC DATA PROCESSING	$16,357,000	+2.7%	149,628	-3.7%	3.42%	-3.5%
MMM	Sell	3M	$16,290,000	-0.6%	77,607	-1.4%	3.40%	-6.6%
FISV	Buy	FISERV	$16,041,000	+6.4%	124,390	+1.0%	3.35%	-0.1%
JNJ	Buy	JOHNSON & JOHNSON	$15,991,000	+0.2%	123,000	+2.0%	3.34%	-5.9%
CNI	Buy	CANADIAN NATL RAILWAY	$15,759,000	+5.3%	190,213	+3.0%	3.29%	-1.1%
MA	Buy	MASTERCARD	$15,675,000	+18.8%	111,013	+2.2%	3.27%	+11.6%
GOOGL	Buy	ALPHABET INC CL A	$15,346,000	+6.3%	15,760	+1.5%	3.20%	-0.2%
CB	Buy	CHUBB LIMITED	$14,627,000	+2.0%	102,608	+4.0%	3.05%	-4.3%
ABT	Buy	ABBOTT LABS	$14,286,000	+14.0%	267,738	+3.9%	2.98%	+7.0%
NVS	Buy	NOVARTIS AG ADR	$13,932,000	+5.7%	162,288	+2.8%	2.91%	-0.8%
ADI	Buy	ANALOG DEVICES	$13,474,000	+32.3%	156,364	+19.4%	2.81%	+24.2%
PG	Buy	PROCTER & GAMBLE	$12,983,000	+7.0%	142,706	+2.5%	2.71%	+0.4%
DHR	Buy	DANAHER CORP	$12,804,000	+22.9%	149,266	+20.9%	2.67%	+15.4%
CVS	Buy	CVS HEALTH	$12,703,000	+2.6%	156,214	+1.5%	2.65%	-3.7%
NSRGY	Buy	NESTLE SA ADR	$12,346,000	-1.3%	146,954	+2.5%	2.58%	-7.3%
ATR	Buy	APTARGROUP	$11,501,000	+0.5%	133,253	+1.1%	2.40%	-5.7%
UL	Buy	UNILEVER PLC NEW ADR	$10,734,000	+12.1%	185,193	+4.7%	2.24%	+5.3%
UTX	Buy	UNITED TECHNOLOGIES	$10,581,000	+23.2%	91,149	+29.6%	2.21%	+15.7%
	Buy	NOVOZYMES A S DKK 2.0	$10,085,000	+18.0%	196,925	+0.8%	2.10%	+10.8%
HD	Buy	HOME DEPOT	$10,056,000	+11.7%	61,480	+4.8%	2.10%	+4.8%
ROK	Buy	ROCKWELL AUTOMATION	$10,033,000	+12.1%	56,300	+1.9%	2.10%	+5.3%
MSFT	Sell	MICROSOFT CORP	$9,313,000	+5.9%	125,026	-2.0%	1.94%	-0.6%
IPGP	Sell	IPG PHOTONICS	$9,266,000	+6.8%	50,068	-16.2%	1.93%	+0.3%
XOM	Buy	EXXON MOBIL	$9,039,000	+2.8%	110,259	+1.2%	1.89%	-3.5%
XLNX	Buy	XILINX	$8,888,000	+26.5%	125,479	+14.9%	1.86%	+18.8%
RHHBY	Buy	ROCHE HLDG LTD ADR	$7,625,000	+4.6%	238,283	+4.0%	1.59%	-1.7%
ILMN	Buy	ILLUMINA	$7,503,000	+14.9%	37,668	+0.1%	1.57%	+7.9%
SJM	Buy	SMUCKER J M	$7,439,000	-3.9%	70,896	+8.4%	1.55%	-9.8%
SLB	Buy	SCHLUMBERGER	$7,062,000	+6.4%	101,234	+0.5%	1.47%	-0.1%
INTC	Buy	INTEL CORP	$6,782,000	+13.2%	178,099	+0.3%	1.42%	+6.3%
ORCL	Sell	ORACLE	$6,054,000	-4.1%	125,221	-0.5%	1.26%	-9.9%
EOG	Buy	EOG RESOURCES	$4,972,000	+102.1%	51,399	+89.2%	1.04%	+89.8%
EMR	Sell	EMERSON ELECTRIC	$3,986,000	+5.4%	63,432	-0.0%	0.83%	-1.1%
CSCO	Sell	CISCO SYS INC	$3,889,000	+5.0%	115,632	-2.3%	0.81%	-1.5%
XYL	Buy	XYLEM INC	$3,755,000	+23.4%	59,955	+9.3%	0.78%	+16.0%
MRK	Buy	MERCK	$3,566,000	+0.1%	55,697	+0.2%	0.74%	-6.1%
FTV	Buy	FORTIVE CORP	$3,147,000	+33.6%	44,454	+19.5%	0.66%	+25.4%
UNP	Sell	UNION PACIFIC	$3,092,000	+5.3%	26,666	-1.1%	0.64%	-1.2%
ABBV	Sell	ABBVIE	$2,802,000	+21.4%	31,530	-1.0%	0.58%	+14.0%
GILD	Sell	GILEAD SCIENCES	$2,647,000	+12.5%	32,673	-1.7%	0.55%	+5.7%
SPY	Sell	SPDR S&P 500 ETF	$2,449,000	-11.7%	9,748	-15.0%	0.51%	-17.2%
HP	Sell	HELMERICH & PAYNE	$2,364,000	-5.1%	45,360	-1.0%	0.49%	-10.8%
SIX	Buy	SIX FLAGS ENTERTAINMENT	$2,344,000	+10.9%	38,460	+8.5%	0.49%	+4.0%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$2,036,000	+7.3%	11,107	-0.9%	0.42%	+0.7%
	Buy	FPA CRESCENT FUNDequity mutual fu	$1,771,000	+0.9%	51,207	+0.1%	0.37%	-5.1%
CL	Sell	COLGATE-PALMOLIVE	$1,699,000	-5.4%	23,325	-3.7%	0.36%	-11.0%
T	Sell	AT&T INC.	$1,283,000	-1.5%	32,762	-5.1%	0.27%	-7.6%
CHD	Buy	CHURCH & DWIGHT	$1,221,000	-4.5%	25,203	+2.2%	0.26%	-10.2%
IDXX	Sell	IDEXX CORP	$1,170,000	-5.0%	7,524	-1.3%	0.24%	-10.9%
ECL	Sell	ECOLAB INC	$1,096,000	-4.8%	8,520	-1.7%	0.23%	-10.5%
NVDA	Buy	NVIDIA CORP	$1,083,000	+28.0%	6,060	+3.6%	0.23%	+20.2%
WBA	Sell	WALGREEN BOOTS ALLIANCE INC	$1,034,000	-10.0%	13,384	-8.8%	0.22%	-15.3%
PEP	Buy	PEPSICO	$1,001,000	-2.4%	8,983	+1.1%	0.21%	-8.3%
ITW	Sell	ILLINOIS TOOL WORKS	$977,000	+1.6%	6,600	-1.7%	0.20%	-4.7%
SYK	Sell	STRYKER CORP	$946,000	-4.2%	6,659	-6.4%	0.20%	-10.0%
DIS	Sell	DISNEY	$945,000	-10.1%	9,590	-3.0%	0.20%	-15.8%
GIS	Sell	GENERAL MILLS	$914,000	-15.7%	17,654	-9.8%	0.19%	-20.7%
KO	Sell	COCA COLA	$855,000	-4.3%	19,004	-4.5%	0.18%	-10.6%
GE	Buy	GENERAL ELECTRIC	$814,000	-10.3%	33,660	+0.2%	0.17%	-15.8%
PFE	Sell	PFIZER	$806,000	+4.8%	22,579	-1.4%	0.17%	-1.8%
APH	Buy	AMPHENOL	$793,000	+14.9%	9,372	+0.2%	0.17%	+8.5%
BMY	Buy	BRISTOL-MYERS SQUIBB	$699,000	+16.1%	10,960	+1.4%	0.15%	+9.0%
VZ	Sell	VERIZON COMMUNICATIONS	$666,000	+9.7%	13,456	-1.1%	0.14%	+3.0%
SYY	Sell	SYSCO	$653,000	+7.0%	12,112	-0.0%	0.14%	0.0%
IRM	Sell	IRON MOUNTAIN	$599,000	+10.1%	15,401	-2.8%	0.12%	+3.3%
RY	Sell	ROYAL BANK CANADA	$590,000	-3.1%	7,625	-9.2%	0.12%	-8.9%
QCOM	Sell	QUALCOMM	$576,000	-64.2%	11,112	-61.9%	0.12%	-66.5%
V	Sell	VISA	$550,000	+10.0%	5,229	-1.9%	0.12%	+3.6%
TD	Sell	TORONTO DOMINION BANK	$543,000	+2.6%	9,650	-8.1%	0.11%	-4.2%
OEF	Sell	ISHARES S&P 100 INDEX FUNDequity mutual fu	$518,000	+3.2%	4,653	-1.0%	0.11%	-3.6%
TR	Sell	TOOTSIE ROLL	$510,000	+7.4%	13,414	-1.5%	0.11%	0.0%
AMT	Buy	AMERICAN TOWER	$458,000	+11.7%	3,351	+8.1%	0.10%	+5.5%
NEE	Sell	NEXTERA ENERGY	$448,000	+2.5%	3,060	-1.9%	0.09%	-3.1%
MTD	Buy	METTLER TOLEDO	$438,000	+28.4%	699	+20.7%	0.09%	+19.7%
DCI	Sell	DONALDSON INC	$418,000	-9.1%	9,100	-9.9%	0.09%	-14.7%
	Sell	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$413,000	-0.7%	6,108	-4.7%	0.09%	-6.5%
FB	Buy	FACEBOOK INC	$401,000	+18.3%	2,347	+4.5%	0.08%	+12.0%
IR	Sell	INGERSOLL RAND PLC	$401,000	-27.5%	4,500	-25.6%	0.08%	-31.7%
APD	Buy	AIR PRODUCTS & CHEM	$392,000	+6.2%	2,590	+0.4%	0.08%	0.0%
SPG	Sell	SIMON PROPERTY GROUP	$343,000	-14.5%	2,129	-14.1%	0.07%	-19.1%
DWDP	New	DOWDUPONT INC	$335,000	–	4,846	–	0.07%	–
ALNY	Sell	ALNYLAM PHARMA	$329,000	+40.0%	2,798	-5.1%	0.07%	+32.7%
CRM	Sell	SALESFORCE.COM	$325,000	-5.5%	3,475	-12.5%	0.07%	-10.5%
AMZN	Buy	AMAZON.COM	$310,000	+17.4%	322	+18.4%	0.06%	+10.2%
MKC	Sell	MCCORMICK & CO	$303,000	+1.7%	2,950	-3.4%	0.06%	-4.5%
	New	OAKMARK EQUITY AND INCOME FUNDequity mutual fu	$302,000	–	9,031	–	0.06%	–
NXPI	Sell	NXP SEMICONDUCTORS	$295,000	-92.5%	2,607	-92.8%	0.06%	-92.9%
	New	HARBOR INTERNATIONAL FUND INVEequity mutual fu	$299,000	–	4,302	–	0.06%	–
LOW	Sell	LOWES COMPANIES	$296,000	-18.7%	3,700	-21.3%	0.06%	-23.5%
	Sell	DODGE & COX STOCK FUNDequity mutual fu	$273,000	-9.0%	1,361	-12.5%	0.06%	-14.9%
ETP	Buy	ENERGY TRANSFER PTNRS LP	$230,000	-1.7%	12,582	+9.6%	0.05%	-7.7%
WMT	Sell	WAL-MART STORES	$219,000	+3.3%	2,797	-0.1%	0.05%	-2.1%
	Sell	T ROWE PRICE GROWTH STOCKequity mutual fu	$201,000	-13.0%	3,000	-17.4%	0.04%	-17.6%
	Buy	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	392,431	+2.3%	0.00%	–
DD	Exit	DU PONT	$0	–	-2,573	–	-0.05%	–
EAT	Exit	BRINKER INTL	$0	–	-5,494	–	-0.05%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,390	–	-0.05%	–
SO	Exit	SOUTHERN CO	$0	–	-4,400	–	-0.05%	–
	Exit	PIMCO INCOME FUND ADMINISTRATIequity mutual fu	$0	–	-19,106	–	-0.05%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-1,750	–	-0.05%	–
AMGN	Exit	AMGEN INC	$0	–	-1,697	–	-0.06%	–
JCI	Exit	JOHNSON CONTROLS	$0	–	-9,187	–	-0.09%	–

Q2 2017

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$17,569,000	–	121,989	–	3.91%	–
MMM	New	3M	$16,381,000	–	78,683	–	3.64%	–
JNJ	New	JOHNSON & JOHNSON	$15,954,000	–	120,602	–	3.55%	–
ADP	New	AUTOMATIC DATA PROCESSING	$15,921,000	–	155,386	–	3.54%	–
FISV	New	FISERV	$15,070,000	–	123,183	–	3.35%	–
CNI	New	CANADIAN NATL RAILWAY	$14,967,000	–	184,667	–	3.33%	–
GOOGL	New	ALPHABET INC CL A	$14,441,000	–	15,533	–	3.21%	–
CB	New	CHUBB LIMITED	$14,346,000	–	98,676	–	3.19%	–
MA	New	MASTERCARD	$13,189,000	–	108,596	–	2.93%	–
NVS	New	NOVARTIS AG ADR	$13,182,000	–	157,921	–	2.93%	–
ABT	New	ABBOTT LABS	$12,531,000	–	257,792	–	2.79%	–
NSRGY	New	NESTLE SA ADR	$12,508,000	–	143,435	–	2.78%	–
CVS	New	CVS HEALTH	$12,380,000	–	153,863	–	2.75%	–
PG	New	PROCTER & GAMBLE	$12,137,000	–	139,267	–	2.70%	–
ATR	New	APTARGROUP	$11,444,000	–	131,752	–	2.54%	–
DHR	New	DANAHER CORP	$10,418,000	–	123,454	–	2.32%	–
ADI	New	ANALOG DEVICES	$10,185,000	–	130,910	–	2.26%	–
UL	New	UNILEVER PLC NEW ADR	$9,576,000	–	176,937	–	2.13%	–
HD	New	HOME DEPOT	$9,003,000	–	58,688	–	2.00%	–
ROK	New	ROCKWELL AUTOMATION	$8,952,000	–	55,275	–	1.99%	–
XOM	New	EXXON MOBIL	$8,794,000	–	108,932	–	1.96%	–
MSFT	New	MICROSOFT CORP	$8,791,000	–	127,535	–	1.96%	–
IPGP	New	IPG PHOTONICS	$8,674,000	–	59,781	–	1.93%	–
UTX	New	UNITED TECHNOLOGIES	$8,588,000	–	70,330	–	1.91%	–
	New	NOVOZYMES A S DKK 2.0	$8,546,000	–	195,280	–	1.90%	–
SJM	New	SMUCKER J M	$7,738,000	–	65,390	–	1.72%	–
RHHBY	New	ROCHE HLDG LTD ADR	$7,288,000	–	229,183	–	1.62%	–
XLNX	New	XILINX	$7,026,000	–	109,241	–	1.56%	–
SLB	New	SCHLUMBERGER	$6,635,000	–	100,780	–	1.48%	–
ILMN	New	ILLUMINA	$6,528,000	–	37,623	–	1.45%	–
ORCL	New	ORACLE	$6,311,000	–	125,871	–	1.40%	–
INTC	New	INTEL CORP	$5,991,000	–	177,552	–	1.33%	–
CVX	New	CHEVRON	$5,978,000	–	57,300	–	1.33%	–
WM	New	WASTE MANAGEMENT INC	$4,527,000	–	61,720	–	1.01%	–
NXPI	New	NXP SEMICONDUCTORS	$3,937,000	–	35,967	–	0.88%	–
EMR	New	EMERSON ELECTRIC	$3,782,000	–	63,435	–	0.84%	–
CSCO	New	CISCO SYS INC	$3,705,000	–	118,357	–	0.82%	–
MRK	New	MERCK	$3,563,000	–	55,597	–	0.79%	–
XYL	New	XYLEM INC	$3,042,000	–	54,876	–	0.68%	–
UNP	New	UNION PACIFIC	$2,937,000	–	26,964	–	0.65%	–
SPY	New	SPDR S&P 500 ETF	$2,774,000	–	11,473	–	0.62%	–
HP	New	HELMERICH & PAYNE	$2,491,000	–	45,840	–	0.55%	–
EOG	New	EOG RESOURCES	$2,460,000	–	27,171	–	0.55%	–
FTV	New	FORTIVE CORP	$2,356,000	–	37,189	–	0.52%	–
GILD	New	GILEAD SCIENCES	$2,352,000	–	33,235	–	0.52%	–
ABBV	New	ABBVIE	$2,308,000	–	31,837	–	0.51%	–
SIX	New	SIX FLAGS ENTERTAINMENT	$2,114,000	–	35,460	–	0.47%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,898,000	–	11,207	–	0.42%	–
	New	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$1,873,000	–	108,394	–	0.42%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,803,000	–	112,536	–	0.40%	–
CL	New	COLGATE-PALMOLIVE	$1,796,000	–	24,227	–	0.40%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,756,000	–	51,151	–	0.39%	–
QCOM	New	QUALCOMM	$1,608,000	–	29,129	–	0.36%	–
T	New	AT&T INC.	$1,303,000	–	34,532	–	0.29%	–
SEP	New	SPECTRA ENERGY PARTNERS LP	$1,287,000	–	30,000	–	0.29%	–
CHD	New	CHURCH & DWIGHT	$1,279,000	–	24,653	–	0.28%	–
IDXX	New	IDEXX CORP	$1,231,000	–	7,624	–	0.27%	–
ECL	New	ECOLAB INC	$1,151,000	–	8,670	–	0.26%	–
WBA	New	WALGREEN BOOTS ALLIANCE INC	$1,149,000	–	14,669	–	0.26%	–
GIS	New	GENERAL MILLS	$1,084,000	–	19,564	–	0.24%	–
TJX	New	TJX COS	$1,071,000	–	14,842	–	0.24%	–
DIS	New	DISNEY	$1,051,000	–	9,890	–	0.23%	–
PEP	New	PEPSICO	$1,026,000	–	8,886	–	0.23%	–
MDT	New	MEDTRONIC	$999,000	–	11,251	–	0.22%	–
SYK	New	STRYKER CORP	$987,000	–	7,111	–	0.22%	–
ITW	New	ILLINOIS TOOL WORKS	$962,000	–	6,715	–	0.21%	–
GE	New	GENERAL ELECTRIC	$907,000	–	33,580	–	0.20%	–
KO	New	COCA COLA	$893,000	–	19,904	–	0.20%	–
NVDA	New	NVIDIA CORP	$846,000	–	5,850	–	0.19%	–
PFE	New	PFIZER	$769,000	–	22,904	–	0.17%	–
APH	New	AMPHENOL	$690,000	–	9,352	–	0.15%	–
	New	NEUBERGER BERMAN ALTERN LONG Sequity mutual fu	$666,000	–	47,728	–	0.15%	–
SHW	New	SHERWIN WILLIAMS	$614,000	–	1,750	–	0.14%	–
SYY	New	SYSCO	$610,000	–	12,115	–	0.14%	–
VZ	New	VERIZON COMMUNICATIONS	$607,000	–	13,601	–	0.14%	–
RY	New	ROYAL BANK CANADA	$609,000	–	8,400	–	0.14%	–
BMY	New	BRISTOL-MYERS SQUIBB	$602,000	–	10,810	–	0.13%	–
MKTX	New	MARKETAXESS HOLDINGS INC	$564,000	–	2,806	–	0.12%	–
IR	New	INGERSOLL RAND PLC	$553,000	–	6,050	–	0.12%	–
IRM	New	IRON MOUNTAIN	$544,000	–	15,838	–	0.12%	–
TD	New	TORONTO DOMINION BANK	$529,000	–	10,500	–	0.12%	–
OEF	New	ISHARES S&P 100 INDEX FUNDequity mutual fu	$502,000	–	4,700	–	0.11%	–
V	New	VISA	$500,000	–	5,329	–	0.11%	–
TR	New	TOOTSIE ROLL	$475,000	–	13,619	–	0.11%	–
BNS	New	BANK OF NOVA SCOTIA	$469,000	–	7,800	–	0.10%	–
DCI	New	DONALDSON INC	$460,000	–	10,100	–	0.10%	–
CP	New	CANADIAN PACIFIC RAILWAYLTD	$446,000	–	2,776	–	0.10%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$445,000	–	10,155	–	0.10%	–
NEE	New	NEXTERA ENERGY	$437,000	–	3,120	–	0.10%	–
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$416,000	–	6,408	–	0.09%	–
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$414,000	–	7,750	–	0.09%	–
AMT	New	AMERICAN TOWER	$410,000	–	3,101	–	0.09%	–
SPG	New	SIMON PROPERTY GROUP	$401,000	–	2,479	–	0.09%	–
JCI	New	JOHNSON CONTROLS	$398,000	–	9,187	–	0.09%	–
FDS	New	FACTSET RESH SYS	$378,000	–	2,275	–	0.08%	–
AFL	New	AFLAC INC	$377,000	–	4,857	–	0.08%	–
APD	New	AIR PRODUCTS & CHEM	$369,000	–	2,580	–	0.08%	–
LOW	New	LOWES COMPANIES	$364,000	–	4,700	–	0.08%	–
CRM	New	SALESFORCE.COM	$344,000	–	3,973	–	0.08%	–
MTD	New	METTLER TOLEDO	$341,000	–	579	–	0.08%	–
FB	New	FACEBOOK INC	$339,000	–	2,247	–	0.08%	–
DNKN	New	DUNKIN BRANDS GROUP	$313,000	–	5,674	–	0.07%	–
	New	DODGE & COX STOCK FUNDequity mutual fu	$300,000	–	1,555	–	0.07%	–
DRI	New	DARDEN RESTAURANTS	$295,000	–	3,259	–	0.07%	–
MKC	New	MCCORMICK & CO	$298,000	–	3,055	–	0.07%	–
AMGN	New	AMGEN INC	$292,000	–	1,697	–	0.06%	–
IBM	New	INTL BUSINESS MACH	$292,000	–	1,897	–	0.06%	–
AZO	New	AUTO ZONE	$285,000	–	500	–	0.06%	–
GPC	New	GENUINE PARTS	$273,000	–	2,940	–	0.06%	–
TFX	New	TELEFLEX	$270,000	–	1,300	–	0.06%	–
GOOG	New	ALPHABET INC CL C	$268,000	–	295	–	0.06%	–
AMZN	New	AMAZON.COM	$264,000	–	272	–	0.06%	–
NKE	New	NIKE INC CLASS B	$248,000	–	4,200	–	0.06%	–
XRAY	New	DENTSPLY SIRONA INC	$247,000	–	3,804	–	0.06%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$244,000	–	2,000	–	0.05%	–
IWB	New	ISHARES RUSSELL 1000	$237,000	–	1,750	–	0.05%	–
ETP	New	ENERGY TRANSFER PTNRS LP	$234,000	–	11,482	–	0.05%	–
ALNY	New	ALNYLAM PHARMA	$235,000	–	2,948	–	0.05%	–
	New	PIMCO INCOME FUND ADMINISTRATIequity mutual fu	$236,000	–	19,106	–	0.05%	–
	New	T ROWE PRICE GROWTH STOCKequity mutual fu	$231,000	–	3,632	–	0.05%	–
TXN	New	TEXAS INSTRUMENTS	$223,000	–	2,900	–	0.05%	–
	New	JPMORGAN GLOBAL RESEARCH ENHANequity mutual fu	$213,000	–	10,256	–	0.05%	–
SO	New	SOUTHERN CO	$211,000	–	4,400	–	0.05%	–
MCD	New	MCDONALDS CORP	$213,000	–	1,390	–	0.05%	–
WMT	New	WAL-MART STORES	$212,000	–	2,800	–	0.05%	–
EAT	New	BRINKER INTL	$209,000	–	5,494	–	0.05%	–
DD	New	DU PONT	$208,000	–	2,573	–	0.05%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$202,000	–	10,919	–	0.04%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–
	New	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	383,699	–	0.00%	–
CRVW	New	CAREVIEW COMMUNICATIONS	$1,000	–	10,000	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
	Exit	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	-358,493	–	0.00%	–
	Exit	BOLLORE S A SCRIP RTS EXP 9/29	$0	–	-900,000	–	0.00%	–
CRVW	Exit	CAREVIEW COMMUNICATIONS	$0	–	-10,000	–	0.00%	–
	Exit	LORD ABBETT INVESTMENT TRUST Sequity mutual fu	$0	–	-23,127	–	-0.02%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.05%	–
GIS	Exit	GENERAL MILLS	$0	–	-3,154	–	-0.05%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-2,886	–	-0.05%	–
MON	Exit	MONSANTO	$0	–	-2,065	–	-0.05%	–
TFX	Exit	TELEFLEX	$0	–	-1,300	–	-0.06%	–
	Exit	VANGUARD WELLINGTON FUND ADMIRequity mutual fu	$0	–	-3,269	–	-0.06%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,930	–	-0.06%	–
KMB	Exit	KIMBERLY CLARK	$0	–	-1,780	–	-0.06%	–
	Exit	PIMCO INCOME FUND ADMINISTRATIequity mutual fu	$0	–	-19,106	–	-0.06%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-4,424	–	-0.06%	–
HR	Exit	HEALTHCARE REALTY TRUST	$0	–	-6,945	–	-0.06%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-3,985	–	-0.06%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-3,400	–	-0.06%	–
MTD	Exit	METTLER TOLEDO	$0	–	-579	–	-0.06%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-2,000	–	-0.06%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE GROU	$0	–	-960	–	-0.06%	–
IONS	Exit	IONIS PHARMACEUTICALS	$0	–	-7,280	–	-0.07%	–
V	Exit	VISA	$0	–	-3,349	–	-0.07%	–
TPX	Exit	TEMPUR SEALY INTERNATIONAL INC	$0	–	-5,000	–	-0.07%	–
SO	Exit	SOUTHERN CO	$0	–	-5,500	–	-0.07%	–
	Exit	T ROWE PRICE GROWTH STOCKequity mutual fu	$0	–	-5,208	–	-0.07%	–
LOW	Exit	LOWES COMPANIES	$0	–	-4,000	–	-0.07%	–
ETP	Exit	ENERGY TRANSFER PTNRS LP	$0	–	-8,355	–	-0.08%	–
	Exit	DODGE & COX STOCK FUNDequity mutual fu	$0	–	-1,810	–	-0.08%	–
GPC	Exit	GENUINE PARTS	$0	–	-3,240	–	-0.08%	–
EAT	Exit	BRINKER INTL	$0	–	-6,868	–	-0.09%	–
MKC	Exit	MCCORMICK & CO	$0	–	-3,573	–	-0.09%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-8,130	–	-0.09%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-3,120	–	-0.10%	–
AZO	Exit	AUTO ZONE	$0	–	-500	–	-0.10%	–
DNKN	Exit	DUNKIN BRANDS GROUP	$0	–	-7,544	–	-0.10%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-3,250	–	-0.10%	–
AFL	Exit	AFLAC INC	$0	–	-5,766	–	-0.10%	–
DCI	Exit	DONALDSON INC	$0	–	-11,100	–	-0.10%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-2,553	–	-0.10%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-2,780	–	-0.10%	–
JCI	Exit	JOHNSON CONTROLS	$0	–	-9,354	–	-0.11%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-8,548	–	-0.11%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-7,574	–	-0.11%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-1,600	–	-0.11%	–
SRCL	Exit	STERICYCLE	$0	–	-6,172	–	-0.12%	–
TR	Exit	TOOTSIE ROLL	$0	–	-13,439	–	-0.12%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-9,480	–	-0.13%	–
SYY	Exit	SYSCO	$0	–	-10,910	–	-0.13%	–
SPG	Exit	SIMON PROPERTY GROUP	$0	–	-2,679	–	-0.14%	–
OEF	Exit	ISHARES S&P 100 INDEX FUNDequity mutual fu	$0	–	-5,832	–	-0.14%	–
APH	Exit	AMPHENOL	$0	–	-8,606	–	-0.14%	–
IRM	Exit	IRON MOUNTAIN	$0	–	-15,839	–	-0.15%	–
EOG	Exit	EOG RESOURCES	$0	–	-6,838	–	-0.16%	–
SYK	Exit	STRYKER CORP	$0	–	-6,136	–	-0.18%	–
PFE	Exit	PFIZER	$0	–	-21,324	–	-0.18%	–
TJX	Exit	TJX COS	$0	–	-9,897	–	-0.18%	–
PEP	Exit	PEPSICO	$0	–	-7,885	–	-0.22%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-7,264	–	-0.22%	–
DIS	Exit	DISNEY	$0	–	-9,720	–	-0.23%	–
ALNY	Exit	ALNYLAM PHARMA	$0	–	-13,400	–	-0.23%	–
KO	Exit	COCA COLA	$0	–	-23,054	–	-0.24%	–
WBA	Exit	WALGREEN BOOTS ALLIANCE INC	$0	–	-12,894	–	-0.26%	–
ECL	Exit	ECOLAB INC	$0	–	-8,843	–	-0.27%	–
	Exit	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$0	–	-77,100	–	-0.29%	–
MDT	Exit	MEDTRONIC	$0	–	-13,498	–	-0.29%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-24,554	–	-0.30%	–
T	Exit	AT&T INC.	$0	–	-29,658	–	-0.30%	–
IDXX	Exit	IDEXX CORP	$0	–	-10,728	–	-0.30%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-86,977	–	-0.33%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-47,772	–	-0.35%	–
KR	Exit	KROGER	$0	–	-48,805	–	-0.36%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-44,967	–	-0.37%	–
FTV	Exit	FORTIVE CORP	$0	–	-29,562	–	-0.38%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-24,802	–	-0.46%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-12,855	–	-0.46%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-23,889	–	-0.47%	–
SIX	Exit	SIX FLAGS ENTERTAINMENT	$0	–	-35,460	–	-0.48%	–
ABBV	Exit	ABBVIE	$0	–	-30,715	–	-0.48%	–
QCOM	Exit	QUALCOMM	$0	–	-29,831	–	-0.51%	–
SPY	Exit	S P D R TRUST SER 1	$0	–	-10,370	–	-0.56%	–
XYL	Exit	XYLEM INC	$0	–	-45,126	–	-0.59%	–
UNP	Exit	UNION PACIFIC	$0	–	-26,464	–	-0.65%	–
PBA	Exit	PEMBINA PIPELINE CO	$0	–	-90,400	–	-0.69%	–
ADI	Exit	ANALOG DEVICES	$0	–	-44,982	–	-0.73%	–
PRGO	Exit	PERRIGO CO	$0	–	-32,585	–	-0.75%	–
	Exit	BOLLORE	$0	–	-900,000	–	-0.77%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-51,135	–	-0.86%	–
SJM	Exit	SMUCKER J M	$0	–	-26,866	–	-0.91%	–
MRK	Exit	MERCK	$0	–	-59,970	–	-0.94%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-69,535	–	-0.95%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-61,720	–	-0.98%	–
SE	Exit	SPECTRA ENERGY	$0	–	-99,235	–	-1.06%	–
JCI	Exit	JOHNSON CONTROLS	$0	–	-102,525	–	-1.19%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-62,492	–	-1.29%	–
XLNX	Exit	XILINX	$0	–	-95,356	–	-1.30%	–
ORCL	Exit	ORACLE	$0	–	-134,666	–	-1.32%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-176,715	–	-1.37%	–
CVX	Exit	CHEVRON	$0	–	-53,687	–	-1.38%	–
CSCO	Exit	CISCO SYS INC	$0	–	-186,421	–	-1.48%	–
TGT	Exit	TARGET CORP	$0	–	-91,332	–	-1.57%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-62,018	–	-1.58%	–
ILMN	Exit	ILLUMINA	$0	–	-35,250	–	-1.60%	–
INTC	Exit	INTEL CORP	$0	–	-173,899	–	-1.64%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-53,790	–	-1.65%	–
NXPI	Exit	NXP SEMICONDUCTORS	$0	–	-64,666	–	-1.65%	–
HD	Exit	HOME DEPOT	$0	–	-51,340	–	-1.65%	–
SLB	Exit	SCHLUMBERGER	$0	–	-90,770	–	-1.79%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-125,681	–	-1.81%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-157,167	–	-1.86%	–
DHR	Exit	DANAHER CORP	$0	–	-98,461	–	-1.93%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-175,865	–	-1.94%	–
XOM	Exit	EXXON MOBIL	$0	–	-92,617	–	-2.02%	–
ATR	Exit	APTARGROUP	$0	–	-120,425	–	-2.33%	–
ABT	Exit	ABBOTT LABS	$0	–	-222,569	–	-2.36%	–
CB	Exit	CHUBB LIMITED	$0	–	-76,955	–	-2.42%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-134,566	–	-2.66%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-135,528	–	-2.68%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-166,020	–	-2.72%	–
FISV	Exit	FISERV	$0	–	-117,518	–	-2.93%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-14,647	–	-2.95%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-131,255	–	-2.95%	–
CVS	Exit	CVS HEALTH	$0	–	-147,699	–	-3.29%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-150,075	–	-3.31%	–
MMM	Exit	3M	$0	–	-75,775	–	-3.34%	–
AAPL	Exit	APPLE INC	$0	–	-123,915	–	-3.51%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-122,663	–	-3.63%	–
MA	Exit	MASTERCARD	$0	–	-148,469	–	-3.78%	–

Q3 2016

			Value		Shares		↓ Weighting
MA	Buy	MASTERCARD	$15,110,000	+17.5%	148,469	+1.7%	3.78%	+12.8%
JNJ	Buy	JOHNSON & JOHNSON	$14,490,000	-1.8%	122,663	+0.9%	3.63%	-5.7%
AAPL	Buy	APPLE INC	$14,009,000	+22.7%	123,915	+3.8%	3.51%	+17.8%
MMM	Buy	3M	$13,354,000	+2.1%	75,775	+1.5%	3.34%	-2.0%
ADP	Buy	AUTOMATIC DATA PROCESSING	$13,237,000	-2.2%	150,075	+1.8%	3.31%	-6.1%
CVS	Buy	CVS HEALTH	$13,144,000	-4.2%	147,699	+3.0%	3.29%	-8.0%
PG	Buy	PROCTER & GAMBLE	$11,780,000	+7.5%	131,255	+1.4%	2.95%	+3.1%
GOOGL	Buy	ALPHABET INC CL A	$11,777,000	+15.9%	14,647	+1.4%	2.95%	+11.3%
FISV	Buy	FISERV	$11,690,000	-7.5%	117,518	+1.1%	2.93%	-11.2%
CNI	Buy	CANADIAN NATL RAILWAY	$10,858,000	+13.7%	166,020	+2.6%	2.72%	+9.1%
NSRGY	Buy	NESTLE SA ADR	$10,709,000	+4.7%	135,528	+2.4%	2.68%	+0.5%
NVS	Buy	NOVARTIS AG ADR	$10,625,000	-2.3%	134,566	+2.1%	2.66%	-6.2%
CB	Buy	CHUBB LIMITED	$9,669,000	+3.3%	76,955	+7.4%	2.42%	-0.9%
ABT	Buy	ABBOTT LABS	$9,412,000	+29.7%	222,569	+20.6%	2.36%	+24.5%
ATR	Buy	APTARGROUP	$9,322,000	+0.1%	120,425	+2.4%	2.33%	-3.9%
XOM	Buy	EXXON MOBIL	$8,084,000	+35.9%	92,617	+45.9%	2.02%	+30.3%
	Buy	NOVOZYMES A S DKK 2.0	$7,735,000	-7.4%	175,865	+1.3%	1.94%	-11.1%
DHR	Buy	DANAHER CORP	$7,718,000	+26.2%	98,461	+62.6%	1.93%	+21.1%
UL	Buy	UNILEVER PLC NEW ADR	$7,450,000	+2.9%	157,167	+4.0%	1.86%	-1.2%
MSFT	Sell	MICROSOFT CORP	$7,239,000	+12.3%	125,681	-0.2%	1.81%	+7.9%
SLB	Buy	SCHLUMBERGER	$7,138,000	-0.1%	90,770	+0.5%	1.79%	-4.1%
NXPI	Buy	NXP SEMICONDUCTORS	$6,597,000	+88.4%	64,666	+44.7%	1.65%	+80.8%
ROK	Buy	ROCKWELL AUTOMATION	$6,581,000	+10.3%	53,790	+3.5%	1.65%	+5.8%
INTC	Buy	INTEL CORP	$6,565,000	+15.7%	173,899	+0.5%	1.64%	+11.0%
ILMN	Buy	ILLUMINA	$6,404,000	+35.3%	35,250	+4.6%	1.60%	+29.9%
UTX	Sell	UNITED TECHNOLOGIES	$6,301,000	-17.6%	62,018	-16.8%	1.58%	-20.9%
TGT	Buy	TARGET CORP	$6,273,000	-0.8%	91,332	+0.9%	1.57%	-4.7%
CSCO	Sell	CISCO SYS INC	$5,913,000	+10.4%	186,421	-0.1%	1.48%	+6.0%
CVX	Sell	CHEVRON	$5,525,000	-6.6%	53,687	-4.9%	1.38%	-10.4%
RHHBY	Sell	ROCHE HLDG LTD ADR	$5,473,000	-27.1%	176,715	-22.4%	1.37%	-30.0%
ORCL	Sell	ORACLE	$5,290,000	-4.5%	134,666	-0.5%	1.32%	-8.3%
XLNX	Buy	XILINX	$5,182,000	+19.4%	95,356	+1.3%	1.30%	+14.6%
IPGP	Buy	IPG PHOTONICS	$5,146,000	+3.5%	62,492	+0.6%	1.29%	-0.6%
JCI	New	JOHNSON CONTROLS	$4,771,000	–	102,525	–	1.19%	–
SE	Sell	SPECTRA ENERGY	$4,242,000	+6.8%	99,235	-8.5%	1.06%	+2.5%
WM	Sell	WASTE MANAGEMENT INC	$3,935,000	-6.4%	61,720	-2.7%	0.98%	-10.1%
EMR	Sell	EMERSON ELECTRIC	$3,790,000	+0.9%	69,535	-3.4%	0.95%	-3.1%
MRK	Sell	MERCK	$3,743,000	+8.1%	59,970	-0.2%	0.94%	+3.8%
HP	Sell	HELMERICH & PAYNE	$3,441,000	-41.9%	51,135	-42.1%	0.86%	-44.3%
PRGO	Buy	PERRIGO CO	$3,009,000	+192.1%	32,585	+186.8%	0.75%	+179.9%
ADI	New	ANALOG DEVICES	$2,899,000	–	44,982	–	0.73%	–
PBA	Buy	PEMBINA PIPELINE CO	$2,754,000	+0.8%	90,400	+0.4%	0.69%	-3.2%
UNP	Buy	UNION PACIFIC	$2,581,000	+13.5%	26,464	+1.5%	0.65%	+8.9%
XYL	Buy	XYLEM INC	$2,367,000	+24.6%	45,126	+6.1%	0.59%	+19.6%
SPY	Sell	S P D R TRUST SER 1	$2,243,000	+2.0%	10,370	-1.1%	0.56%	-2.1%
QCOM	Sell	QUALCOMM	$2,043,000	+20.4%	29,831	-5.8%	0.51%	+15.3%
ABBV	Buy	ABBVIE	$1,937,000	+4.3%	30,715	+2.3%	0.48%	+0.2%
SIX	New	SIX FLAGS ENTERTAINMENT	$1,901,000	–	35,460	–	0.48%	–
GILD	Sell	GILEAD SCIENCES	$1,890,000	-66.7%	23,889	-64.9%	0.47%	-68.0%
BRKB	Buy	BERKSHIRE HATHAWAY CL B	$1,857,000	+6.1%	12,855	+6.3%	0.46%	+1.8%
CL	Sell	COLGATE-PALMOLIVE	$1,839,000	-0.5%	24,802	-1.8%	0.46%	-4.6%
FTV	New	FORTIVE CORP	$1,505,000	–	29,562	–	0.38%	–
	Buy	FPA CRESCENT FUNDequity mutual fu	$1,462,000	+4.5%	44,967	+0.1%	0.37%	+0.3%
KR	Sell	KROGER	$1,449,000	-69.2%	48,805	-61.9%	0.36%	-70.4%
GE	Buy	GENERAL ELECTRIC	$1,415,000	-5.5%	47,772	+0.4%	0.35%	-9.5%
T	Buy	AT&T INC.	$1,204,000	-4.4%	29,658	+1.7%	0.30%	-8.5%
CHD	Buy	CHURCH & DWIGHT	$1,177,000	-6.8%	24,554	+100.0%	0.30%	-10.3%
MDT	Sell	MEDTRONIC	$1,166,000	-2.3%	13,498	-1.8%	0.29%	-6.1%
WBA	Sell	WALGREEN BOOTS ALLIANCE INC	$1,040,000	-3.9%	12,894	-0.8%	0.26%	-7.8%
KO	Sell	COCA COLA	$976,000	-15.1%	23,054	-9.1%	0.24%	-18.7%
ALNY	Buy	ALNYLAM PHARMA	$908,000	+24.0%	13,400	+1.5%	0.23%	+18.8%
DIS	Buy	DISNEY	$903,000	-3.5%	9,720	+1.6%	0.23%	-7.4%
PEP	Buy	PEPSICO	$858,000	+6.1%	7,885	+3.3%	0.22%	+1.9%
OEF	Sell	ISHARES S&P 100 INDEX FUNDequity mutual fu	$559,000	-1.9%	5,832	-4.9%	0.14%	-6.0%
BMY	Sell	BRISTOL-MYERS SQUIBB	$511,000	-26.8%	9,480	-0.2%	0.13%	-29.7%
SRCL	Sell	STERICYCLE	$495,000	-26.0%	6,172	-4.0%	0.12%	-28.7%
TR	Sell	TOOTSIE ROLL	$495,000	-5.2%	13,439	-0.7%	0.12%	-8.8%
	Sell	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$443,000	+3.3%	7,574	-2.2%	0.11%	-0.9%
VZ	Buy	VERIZON COMMUNICATIONS	$444,000	-5.7%	8,548	+1.4%	0.11%	-9.8%
SHW	Sell	SHERWIN WILLIAMS	$443,000	-24.5%	1,600	-20.0%	0.11%	-27.5%
JCI	Sell	JOHNSON CONTROLS	$435,000	-92.8%	9,354	-93.1%	0.11%	-93.1%
APD	Sell	AIR PRODUCTS & CHEM	$418,000	-17.9%	2,780	-22.3%	0.10%	-21.1%
AFL	Sell	AFLAC INC	$414,000	-16.4%	5,766	-16.0%	0.10%	-19.4%
DCI	Sell	DONALDSON INC	$414,000	+6.7%	11,100	-1.8%	0.10%	+3.0%
DNKN	New	DUNKIN BRANDS GROUP	$393,000	–	7,544	–	0.10%	–
AZO	Sell	AUTO ZONE	$384,000	-25.6%	500	-23.1%	0.10%	-28.9%
NEE	Buy	NEXTERA ENERGY	$382,000	-3.0%	3,120	+3.3%	0.10%	-6.8%
NVZMY	Buy	NOVOZYMES UNSPN ADR	$361,000	+0.8%	8,130	+9.1%	0.09%	-3.2%
MKC	Sell	MCCORMICK & CO	$357,000	-8.0%	3,573	-1.8%	0.09%	-11.9%
EAT	New	BRINKER INTL	$346,000	–	6,868	–	0.09%	–
GPC	Sell	GENUINE PARTS	$325,000	-15.4%	3,240	-14.5%	0.08%	-19.0%
ETP	Sell	ENERGY TRANSFER PTNRS LP	$309,000	-10.4%	8,355	-7.7%	0.08%	-14.4%
TPX	New	TEMPUR SEALY INTERNATIONAL INC	$284,000	–	5,000	–	0.07%	–
	Sell	T ROWE PRICE GROWTH STOCKequity mutual fu	$283,000	+4.8%	5,208	-2.8%	0.07%	+1.4%
SO	Sell	SOUTHERN CO	$282,000	-23.8%	5,500	-20.3%	0.07%	-26.0%
V	Buy	VISA	$277,000	+33.2%	3,349	+19.6%	0.07%	+27.8%
IONS	New	IONIS PHARMACEUTICALS	$267,000	–	7,280	–	0.07%	–
ICE	Buy	INTERCONTINENTAL EXCHANGE GROU	$259,000	+17.7%	960	+11.6%	0.06%	+14.0%
TXN	Sell	TEXAS INSTRUMENTS	$239,000	-0.4%	3,400	-11.3%	0.06%	-4.8%
	New	PIMCO INCOME FUND ADMINISTRATIequity mutual fu	$229,000	–	19,106	–	0.06%	–
KMB	Buy	KIMBERLY CLARK	$225,000	+2.3%	1,780	+11.2%	0.06%	-1.8%
	Sell	VANGUARD WELLINGTON FUND ADMIRequity mutual fu	$219,000	-17.0%	3,269	-18.5%	0.06%	-20.3%
TFX	Sell	TELEFLEX	$218,000	-31.7%	1,300	-27.8%	0.06%	-33.7%
MON	Buy	MONSANTO	$211,000	-0.9%	2,065	+0.5%	0.05%	-5.4%
GIS	Sell	GENERAL MILLS	$201,000	-32.1%	3,154	-24.0%	0.05%	-35.1%
	New	LORD ABBETT INVESTMENT TRUST Sequity mutual fu	$101,000	–	23,127	–	0.02%	–
CRVW	New	CAREVIEW COMMUNICATIONS	$1,000	–	10,000	–	0.00%	–
	New	ENBRIDGE ENERGY LLC FRAC SHS	$0	–	358,493	–	0.00%	–
	New	BOLLORE S A SCRIP RTS EXP 9/29	$0	–	900,000	–	0.00%	–
BCR	Exit	BARD C R	$0	–	-900	–	-0.06%	–
TSCO	Exit	TRACTOR SUPPLY	$0	–	-2,394	–	-0.06%	–
MCK	Exit	MCKESSON	$0	–	-1,193	–	-0.06%	–
PX	Exit	PRAXAIR	$0	–	-2,178	–	-0.06%	–
VNQ	Exit	VANGUARD REIT	$0	–	-2,820	–	-0.06%	–

Q2 2016

			Value		Shares		↓ Weighting
JNJ	New	JOHNSON & JOHNSON	$14,753,000	–	121,627	–	3.85%	–
CVS	New	CVS HEALTH	$13,723,000	–	143,336	–	3.58%	–
ADP	New	AUTOMATIC DATA PROCESSING	$13,538,000	–	147,365	–	3.53%	–
MMM	New	3M	$13,074,000	–	74,660	–	3.41%	–
MA	New	MASTERCARD	$12,860,000	–	146,031	–	3.35%	–
FISV	New	FISERV	$12,642,000	–	116,268	–	3.30%	–
AAPL	New	APPLE INC	$11,417,000	–	119,426	–	2.98%	–
PG	New	PROCTER & GAMBLE	$10,959,000	–	129,430	–	2.86%	–
NVS	New	NOVARTIS AG ADR	$10,877,000	–	131,826	–	2.84%	–
NSRGY	New	NESTLE SA ADR	$10,228,000	–	132,303	–	2.67%	–
GOOGL	New	ALPHABET INC CL A	$10,159,000	–	14,440	–	2.65%	–
CNI	New	CANADIAN NATL RAILWAY	$9,552,000	–	161,741	–	2.49%	–
CB	New	CHUBB LIMITED	$9,363,000	–	71,629	–	2.44%	–
ATR	New	APTARGROUP	$9,309,000	–	117,645	–	2.43%	–
	New	NOVOZYMES A S DKK 2.0	$8,354,000	–	173,690	–	2.18%	–
UTX	New	UNITED TECHNOLOGIES	$7,645,000	–	74,550	–	1.99%	–
RHHBY	New	ROCHE HLDG LTD ADR	$7,507,000	–	227,827	–	1.96%	–
ABT	New	ABBOTT LABS	$7,254,000	–	184,532	–	1.89%	–
UL	New	UNILEVER PLC NEW ADR	$7,238,000	–	151,076	–	1.89%	–
SLB	New	SCHLUMBERGER	$7,145,000	–	90,350	–	1.86%	–
HD	New	HOME DEPOT	$6,556,000	–	51,340	–	1.71%	–
MSFT	New	MICROSOFT CORP	$6,444,000	–	125,934	–	1.68%	–
TGT	New	TARGET CORP	$6,321,000	–	90,532	–	1.65%	–
DHR	New	DANAHER CORP	$6,116,000	–	60,559	–	1.60%	–
JCI	New	JOHNSON CONTROLS	$6,042,000	–	136,505	–	1.58%	–
ROK	New	ROCKWELL AUTOMATION	$5,966,000	–	51,960	–	1.56%	–
XOM	New	EXXON MOBIL	$5,950,000	–	63,473	–	1.55%	–
HP	New	HELMERICH & PAYNE	$5,924,000	–	88,252	–	1.54%	–
CVX	New	CHEVRON	$5,916,000	–	56,437	–	1.54%	–
GILD	New	GILEAD SCIENCES	$5,675,000	–	68,033	–	1.48%	–
INTC	New	INTEL CORP	$5,674,000	–	172,999	–	1.48%	–
ORCL	New	ORACLE	$5,538,000	–	135,316	–	1.44%	–
CSCO	New	CISCO SYS INC	$5,355,000	–	186,651	–	1.40%	–
IPGP	New	IPG PHOTONICS	$4,970,000	–	62,127	–	1.30%	–
ILMN	New	ILLUMINA	$4,733,000	–	33,715	–	1.23%	–
KR	New	KROGER	$4,709,000	–	128,000	–	1.23%	–
XLNX	New	XILINX	$4,341,000	–	94,101	–	1.13%	–
WM	New	WASTE MANAGEMENT INC	$4,203,000	–	63,420	–	1.10%	–
SJM	New	SMUCKER J M	$4,095,000	–	26,866	–	1.07%	–
SE	New	SPECTRA ENERGY	$3,973,000	–	108,457	–	1.04%	–
EMR	New	EMERSON ELECTRIC	$3,755,000	–	71,985	–	0.98%	–
NXPI	New	NXP SEMICONDUCTORS	$3,502,000	–	44,705	–	0.91%	–
MRK	New	MERCK	$3,463,000	–	60,103	–	0.90%	–
	New	BOLLORE	$3,060,000	–	900,000	–	0.80%	–
PBA	New	PEMBINA PIPELINE CO	$2,731,000	–	90,000	–	0.71%	–
UNP	New	UNION PACIFIC	$2,275,000	–	26,074	–	0.59%	–
SPY	New	S P D R TRUST SER 1	$2,198,000	–	10,490	–	0.57%	–
XYL	New	XYLEM INC	$1,899,000	–	42,536	–	0.50%	–
ABBV	New	ABBVIE	$1,858,000	–	30,011	–	0.48%	–
CL	New	COLGATE-PALMOLIVE	$1,849,000	–	25,262	–	0.48%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,751,000	–	12,095	–	0.46%	–
QCOM	New	QUALCOMM	$1,697,000	–	31,674	–	0.44%	–
GE	New	GENERAL ELECTRIC	$1,498,000	–	47,572	–	0.39%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,399,000	–	44,943	–	0.36%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$1,282,000	–	86,977	–	0.33%	–
T	New	AT&T INC.	$1,260,000	–	29,150	–	0.33%	–
CHD	New	CHURCH & DWIGHT	$1,263,000	–	12,277	–	0.33%	–
MDT	New	MEDTRONIC	$1,193,000	–	13,748	–	0.31%	–
KO	New	COCA COLA	$1,150,000	–	25,374	–	0.30%	–
	New	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$1,116,000	–	77,100	–	0.29%	–
WBA	New	WALGREEN BOOTS ALLIANCE INC	$1,082,000	–	12,994	–	0.28%	–
ECL	New	ECOLAB INC	$1,049,000	–	8,843	–	0.27%	–
PRGO	New	PERRIGO CO	$1,030,000	–	11,360	–	0.27%	–
IDXX	New	IDEXX CORP	$996,000	–	10,728	–	0.26%	–
DIS	New	DISNEY	$936,000	–	9,570	–	0.24%	–
PEP	New	PEPSICO	$809,000	–	7,635	–	0.21%	–
TJX	New	TJX COS	$764,000	–	9,897	–	0.20%	–
ITW	New	ILLINOIS TOOL WORKS	$757,000	–	7,264	–	0.20%	–
PFE	New	PFIZER	$751,000	–	21,324	–	0.20%	–
SYK	New	STRYKER CORP	$735,000	–	6,136	–	0.19%	–
ALNY	New	ALNYLAM PHARMA	$732,000	–	13,200	–	0.19%	–
BMY	New	BRISTOL-MYERS SQUIBB	$698,000	–	9,495	–	0.18%	–
SRCL	New	STERICYCLE	$669,000	–	6,427	–	0.17%	–
IRM	New	IRON MOUNTAIN	$631,000	–	15,839	–	0.16%	–
SHW	New	SHERWIN WILLIAMS	$587,000	–	2,000	–	0.15%	–
SPG	New	SIMON PROPERTY GROUP	$581,000	–	2,679	–	0.15%	–
OEF	New	ISHARES S&P 100 INDEX FUNDequity mutual fu	$570,000	–	6,132	–	0.15%	–
EOG	New	EOG RESOURCES	$570,000	–	6,838	–	0.15%	–
SYY	New	SYSCO	$554,000	–	10,910	–	0.14%	–
TR	New	TOOTSIE ROLL	$522,000	–	13,539	–	0.14%	–
AZO	New	AUTO ZONE	$516,000	–	650	–	0.14%	–
APD	New	AIR PRODUCTS & CHEM	$509,000	–	3,580	–	0.13%	–
AFL	New	AFLAC INC	$495,000	–	6,864	–	0.13%	–
APH	New	AMPHENOL	$493,000	–	8,606	–	0.13%	–
VZ	New	VERIZON COMMUNICATIONS	$471,000	–	8,434	–	0.12%	–
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$429,000	–	7,748	–	0.11%	–
FDS	New	FACTSET RESH SYS	$412,000	–	2,553	–	0.11%	–
NEE	New	NEXTERA ENERGY	$394,000	–	3,020	–	0.10%	–
DCI	New	DONALDSON INC	$388,000	–	11,300	–	0.10%	–
MKC	New	MCCORMICK & CO	$388,000	–	3,638	–	0.10%	–
GPC	New	GENUINE PARTS	$384,000	–	3,790	–	0.10%	–
IWB	New	ISHARES RUSSELL 1000	$380,000	–	3,250	–	0.10%	–
SO	New	SOUTHERN CO	$370,000	–	6,900	–	0.10%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$358,000	–	7,455	–	0.09%	–
ETP	New	ENERGY TRANSFER PTNRS LP	$345,000	–	9,055	–	0.09%	–
TFX	New	TELEFLEX	$319,000	–	1,800	–	0.08%	–
LOW	New	LOWES COMPANIES	$317,000	–	4,000	–	0.08%	–
GIS	New	GENERAL MILLS	$296,000	–	4,152	–	0.08%	–
	New	DODGE & COX STOCK FUNDequity mutual fu	$285,000	–	1,810	–	0.07%	–
	New	T ROWE PRICE GROWTH STOCKequity mutual fu	$270,000	–	5,358	–	0.07%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$268,000	–	2,000	–	0.07%	–
	New	VANGUARD WELLINGTON FUND ADMIRequity mutual fu	$264,000	–	4,012	–	0.07%	–
VNQ	New	VANGUARD REIT	$250,000	–	2,820	–	0.06%	–
NKE	New	NIKE INC CLASS B	$244,000	–	4,424	–	0.06%	–
PX	New	PRAXAIR	$245,000	–	2,178	–	0.06%	–
XRAY	New	DENTSPLY SIRONA INC	$247,000	–	3,985	–	0.06%	–
HR	New	HEALTHCARE REALTY TRUST	$243,000	–	6,945	–	0.06%	–
TXN	New	TEXAS INSTRUMENTS	$240,000	–	3,833	–	0.06%	–
MCD	New	MCDONALDS CORP	$232,000	–	1,930	–	0.06%	–
MCK	New	MCKESSON	$223,000	–	1,193	–	0.06%	–
KMB	New	KIMBERLY CLARK	$220,000	–	1,600	–	0.06%	–
TSCO	New	TRACTOR SUPPLY	$218,000	–	2,394	–	0.06%	–
ESRX	New	EXPRESS SCRIPTS	$219,000	–	2,886	–	0.06%	–
ICE	New	INTERCONTINENTAL EXCHANGE GROU	$220,000	–	860	–	0.06%	–
MON	New	MONSANTO	$213,000	–	2,055	–	0.06%	–
MTD	New	METTLER TOLEDO	$211,000	–	579	–	0.06%	–
BCR	New	BARD C R	$212,000	–	900	–	0.06%	–
V	New	VISA	$208,000	–	2,799	–	0.05%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$182,000	–	10,919	–	0.05%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-77	–	0.00%	–
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
TYC	Exit	TYCO INTL LTD	$0	–	-25	–	0.00%	–
AEP	Exit	AMN ELEC POWER AMERICAN	$0	–	-100	–	-0.00%	–
HES	Exit	HESS CORPORATION	$0	–	-150	–	-0.00%	–
BSX	Exit	BOSTON SCIENTIFIC	$0	–	-2,020	–	-0.01%	–
UPS	Exit	UNITED PARCEL SVC CL B	$0	–	-317	–	-0.01%	–
AMZN	Exit	AMAZON.COM	$0	–	-62	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-222	–	-0.01%	–
VALEP	Exit	VALE SA PFD SHS ADR	$0	–	-12,717	–	-0.01%	–
ALL	Exit	ALLSTATE	$0	–	-800	–	-0.01%	–
NHYDY	Exit	NORSK HYDRO ADR	$0	–	-14,376	–	-0.01%	–
PEXNY	Exit	PTT EXPLORATION & PRODUCTION P	$0	–	-12,758	–	-0.01%	–
MNGPY	Exit	MAN GROUP PLC UNSP A	$0	–	-22,945	–	-0.01%	–
TIF	Exit	TIFFANY & CO	$0	–	-750	–	-0.02%	–
AXS	Exit	AXIS CAPITAL HOLDINGS LTD	$0	–	-1,080	–	-0.02%	–
CIG	Exit	COMPANHIA ENERG DE ADR	$0	–	-35,582	–	-0.02%	–
PH	Exit	PARKER HANNIFIN	$0	–	-665	–	-0.02%	–
RWR	Exit	SPDR SERIES TRUST DJ REIT	$0	–	-800	–	-0.02%	–
BIIB	Exit	BIOGEN	$0	–	-232	–	-0.02%	–
PPCYY	Exit	PPC LTD	$0	–	-28,319	–	-0.02%	–
AUOTY	Exit	AU OPTRONICS CORP	$0	–	-25,133	–	-0.02%	–
BBD	Exit	BANCO BRADESCO S A ADR	$0	–	-14,008	–	-0.02%	–
AEG	Exit	AEGON N.V. NY REG SHS	$0	–	-14,553	–	-0.02%	–
CSUAY	Exit	CHINA SHENHUA ENERGY CO LTD	$0	–	-15,519	–	-0.03%	–
WEICY	Exit	WIECHAI POWER ADR	$0	–	-13,182	–	-0.03%	–
IBN	Exit	ICICI BANK LTD	$0	–	-12,191	–	-0.03%	–
BDBD	Exit	BOULDER BRANDS INC	$0	–	-12,300	–	-0.03%	–
VDMCY	Exit	VODACOM GROUP LTD. SPONSORED A	$0	–	-10,823	–	-0.03%	–
	Exit	TOMRA SYSTEMS A S A	$0	–	-12,300	–	-0.03%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-2,006	–	-0.03%	–
STT	Exit	STATE STREET	$0	–	-1,900	–	-0.04%	–
SRGHY	Exit	SHOPRITE HOLDINGS LT	$0	–	-11,195	–	-0.04%	–
MBT	Exit	MOBILE TELESYS OJSC ADR	$0	–	-18,303	–	-0.04%	–
SLLDY	Exit	SANLAM LTD SP ADR	$0	–	-15,070	–	-0.04%	–
CRM	Exit	SALESFORCE.COM	$0	–	-1,998	–	-0.04%	–
BDORY	Exit	BANCO DO BRASIL SA-SPON	$0	–	-36,169	–	-0.04%	–
BBSEY	Exit	BB SEGURIDADE	$0	–	-21,826	–	-0.04%	–
TKC	Exit	TURKCELL ILETISIM ADR	$0	–	-15,867	–	-0.04%	–
IHLDY	Exit	IMPERIAL HOLDINGS AD	$0	–	-11,690	–	-0.04%	–
AKBTY	Exit	AKBANK TURK SPON ADR REGANONIM	$0	–	-31,647	–	-0.04%	–
SGBLY	Exit	STD BK GRP LTD S ADR	$0	–	-15,408	–	-0.04%	–
	Exit	FIDELITY FREEDOM 2025equity mutual fu	$0	–	-12,353	–	-0.04%	–
LZRFY	Exit	LOCALIZA RENT A CAR	$0	–	-25,189	–	-0.04%	–
OGZPY	Exit	OAO GAZPROM SPON ADR	$0	–	-38,093	–	-0.04%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-1,085	–	-0.04%	–
	Exit	HARDING LOEVNER FRONTIER EMERGequity mutual fu	$0	–	-20,664	–	-0.04%	–
PTAIY	Exit	PT ASTRA INTL ADR	$0	–	-26,046	–	-0.05%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.05%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,930	–	-0.05%	–
CIBEY	Exit	COML INL BK SP ADR	$0	–	-30,697	–	-0.05%	–
AMX	Exit	AMERICA MOVIL SAB DE CV ADR	$0	–	-11,904	–	-0.05%	–
KCDMY	Exit	KIMBERLY CLARK DE MX SABDE CV	$0	–	-17,492	–	-0.06%	–
CIOXY	Exit	CIELO SA	$0	–	-21,588	–	-0.06%	–
TSCO	Exit	TRACTOR SUPPLY	$0	–	-2,394	–	-0.06%	–
EQT	Exit	EQT CORP	$0	–	-3,135	–	-0.06%	–
SBRCY	Exit	SBERBANK RUSSIA	$0	–	-42,122	–	-0.06%	–
WLWHY	Exit	WOOLWORTHS HLDGS S ADR	$0	–	-29,601	–	-0.06%	–
GOOG	Exit	ALPHABET INC CL C	$0	–	-342	–	-0.06%	–
AME	Exit	AMETEK INC	$0	–	-3,996	–	-0.06%	–
CLCGY	Exit	CLICKS GROUP LTD SPONSORED ADR	$0	–	-15,846	–	-0.06%	–
LUKOY	Exit	LUKOIL SPONSORED ADR	$0	–	-6,349	–	-0.06%	–
NVO	Exit	NOVO NORDISK A S ADR	$0	–	-4,012	–	-0.06%	–
PPERY	Exit	BANK MANDIRI TBK-UNSPON ADR	$0	–	-40,011	–	-0.06%	–
TFX	Exit	TELEFLEX	$0	–	-1,800	–	-0.06%	–
ABEV	Exit	AMBEV SA	$0	–	-46,700	–	-0.06%	–
VNQ	Exit	VANGUARD REIT	$0	–	-3,045	–	-0.06%	–
SIRO	Exit	SIRONA DENTAL SYSTEMS	$0	–	-2,573	–	-0.07%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-6,153	–	-0.07%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-2,000	–	-0.07%	–
SHG	Exit	SHINHAN FINL GRP SP ADR	$0	–	-7,183	–	-0.07%	–
TLK	Exit	TELEKOMUNIKASI INDONESIASP ADR	$0	–	-7,117	–	-0.07%	–
KB	Exit	KB FINANCIAL GROUP INC	$0	–	-8,614	–	-0.07%	–
WMT	Exit	WAL-MART STORES	$0	–	-4,062	–	-0.07%	–
NVZMY	Exit	NOVOZYMES UNSPN ADR	$0	–	-6,090	–	-0.07%	–
CMCSA	Exit	COMCAST CORP NEW CL A	$0	–	-4,762	–	-0.08%	–
LOW	Exit	LOWES COMPANIES	$0	–	-4,000	–	-0.08%	–
USB	Exit	US BANCORP	$0	–	-6,798	–	-0.08%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-3,483	–	-0.08%	–
	Exit	T ROWE PRICE GROWTH STOCKequity mutual fu	$0	–	-5,358	–	-0.08%	–
	Exit	DODGE & COX STOCK FUNDequity mutual fu	$0	–	-1,810	–	-0.08%	–
KHOLY	Exit	KOC HLDG AS-UNSPON	$0	–	-14,892	–	-0.08%	–
GIS	Exit	GENERAL MILLS	$0	–	-5,227	–	-0.08%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE GROU	$0	–	-1,268	–	-0.08%	–
MKC	Exit	MCCORMICK & CO	$0	–	-3,638	–	-0.08%	–
MON	Exit	MONSANTO	$0	–	-3,615	–	-0.08%	–
TEVA	Exit	TEVA PHARMACEUTICAL	$0	–	-5,423	–	-0.08%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-3,136	–	-0.08%	–
	Exit	AKRE FOCUS INSTITUTIONAL FUNDequity mutual fu	$0	–	-14,016	–	-0.09%	–
DCI	Exit	DONALDSON INC	$0	–	-11,300	–	-0.09%	–
HR	Exit	HEALTHCARE REALTY TRUST	$0	–	-12,995	–	-0.09%	–
	Exit	NOVOZYMES A S SER B DKK2	$0	–	-7,755	–	-0.09%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-2,799	–	-0.10%	–
IVV	Exit	ISHARES S&P 500	$0	–	-1,780	–	-0.10%	–
NTES	Exit	NETEASE.COM INC ADR	$0	–	-2,878	–	-0.10%	–
GPC	Exit	GENUINE PARTS	$0	–	-4,280	–	-0.10%	–
VOD	Exit	VODAFONE PLC SP ADR	$0	–	-11,396	–	-0.10%	–
BIDU	Exit	BAIDU ADR REP ONE CL A ORD	$0	–	-2,646	–	-0.10%	–
TYG	Exit	TORTOISE ENERGY INFRASTRUCTURE	$0	–	-13,871	–	-0.10%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-2,403	–	-0.11%	–
SO	Exit	SOUTHERN CO	$0	–	-8,700	–	-0.11%	–
DHR	Exit	DANAHER CORP	$0	–	-4,600	–	-0.11%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-9,121	–	-0.11%	–
AFL	Exit	AFLAC INC	$0	–	-6,975	–	-0.11%	–
	Exit	DFA GLOBAL REAL ESTATE SECURITequity mutual fu	$0	–	-41,070	–	-0.11%	–
IWF	Exit	ISHARES RUSSELL 1000 GROWTH	$0	–	-4,550	–	-0.12%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-8,407	–	-0.12%	–
CHL	Exit	CHINA MOBILE LTD SPN ADR	$0	–	-7,630	–	-0.12%	–
IDXX	Exit	IDEXX CORP	$0	–	-6,128	–	-0.13%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-3,650	–	-0.13%	–
TR	Exit	TOOTSIE ROLL	$0	–	-15,149	–	-0.13%	–
SYY	Exit	SYSCO	$0	–	-12,660	–	-0.14%	–
ETP	Exit	ENERGY TRANSFER PTNRS LP	$0	–	-12,123	–	-0.14%	–
CICHY	Exit	CHINA CONSTRUCT UNSPN AD	$0	–	-38,087	–	-0.14%	–
IVE	Exit	ISHARES S&P 500 VALUE INDEX FU	$0	–	-6,100	–	-0.14%	–
APH	Exit	AMPHENOL	$0	–	-10,306	–	-0.14%	–
AZO	Exit	AUTO ZONE	$0	–	-750	–	-0.15%	–
TSM	Exit	TAIWAN S MANUFCTRING ADR	$0	–	-26,248	–	-0.15%	–
SPG	Exit	SIMON PROPERTY GROUP	$0	–	-2,979	–	-0.15%	–
EOG	Exit	EOG RESOURCES	$0	–	-7,538	–	-0.15%	–
OEF	Exit	ISHARES S&P 100 INDEX FUNDequity mutual fu	$0	–	-6,741	–	-0.16%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-9,885	–	-0.16%	–
	Exit	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$0	–	-41,711	–	-0.16%	–
	Exit	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$0	–	-12,016	–	-0.16%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-7,364	–	-0.17%	–
WFC	Exit	WELLS FARGO	$0	–	-11,959	–	-0.17%	–
SYK	Exit	STRYKER CORP	$0	–	-6,741	–	-0.18%	–
IVW	Exit	ISHARES S&P 500 GROWTH	$0	–	-6,000	–	-0.18%	–
IRM	Exit	IRON MOUNTAIN	$0	–	-21,066	–	-0.18%	–
	Exit	IVA INTERNATIONAL FUND CLASS Iequity mutual fu	$0	–	-41,502	–	-0.19%	–
PX	Exit	PRAXAIR	$0	–	-6,868	–	-0.19%	–
TJX	Exit	TJX COS	$0	–	-9,897	–	-0.20%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-7,353	–	-0.20%	–
	Exit	MATTHEWS PACIFIC TIGERequity mutual fu	$0	–	-30,234	–	-0.20%	–
MCK	Exit	MCKESSON	$0	–	-4,018	–	-0.20%	–
PFE	Exit	PFIZER	$0	–	-23,881	–	-0.21%	–
	Exit	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$0	–	-53,499	–	-0.22%	–
PEP	Exit	PEPSICO	$0	–	-8,480	–	-0.22%	–
BOH	Exit	BANCORP HAWAII	$0	–	-12,825	–	-0.22%	–
DIS	Exit	DISNEY	$0	–	-8,540	–	-0.24%	–
APC	Exit	ANADARKO PETE	$0	–	-15,000	–	-0.25%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-4,190	–	-0.26%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-9,030	–	-0.27%	–
CHD	Exit	CHURCH & DWIGHT	$0	–	-11,568	–	-0.27%	–
T	Exit	AT&T INC.	$0	–	-30,737	–	-0.28%	–
ALNY	Exit	ALNYLAM PHARMA	$0	–	-12,525	–	-0.28%	–
	Exit	PUTNAM CAPITAL SPECTRUM FUND Aequity mutual fu	$0	–	-29,944	–	-0.28%	–
ECL	Exit	ECOLAB INC	$0	–	-9,593	–	-0.29%	–
SRCL	Exit	STERICYCLE	$0	–	-7,677	–	-0.30%	–
XYL	Exit	XYLEM INC	$0	–	-33,741	–	-0.31%	–
WBA	Exit	WALGREEN BOOTS ALLIANCE INC	$0	–	-13,994	–	-0.32%	–
MDT	Exit	MEDTRONIC	$0	–	-17,595	–	-0.32%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-48,322	–	-0.34%	–
KO	Exit	COCA COLA	$0	–	-30,872	–	-0.34%	–
ISIS	Exit	ISIS PHARMACEUTICAL	$0	–	-36,485	–	-0.41%	–
WM	Exit	WASTE MANAGEMENT INC	$0	–	-29,920	–	-0.41%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-13,145	–	-0.47%	–
SE	Exit	SPECTRA ENERGY	$0	–	-65,668	–	-0.48%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-55,314	–	-0.49%	–
ABBV	Exit	ABBVIE	$0	–	-32,680	–	-0.49%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-30,047	–	-0.53%	–
CYN	Exit	CITY NATIONAL	$0	–	-23,435	–	-0.57%	–
QCOM	Exit	QUALCOMM	$0	–	-38,841	–	-0.58%	–
UNP	Exit	UNION PACIFIC	$0	–	-26,474	–	-0.65%	–
ACE	Exit	ACE LIMITED	$0	–	-23,305	–	-0.67%	–
CB	Exit	CHUBB CORP	$0	–	-21,799	–	-0.74%	–
PBA	Exit	PEMBINA PIPELINE CO	$0	–	-120,450	–	-0.80%	–
MRK	Exit	MERCK	$0	–	-61,790	–	-0.84%	–
CVX	Exit	CHEVRON	$0	–	-41,360	–	-0.90%	–
ILMN	Exit	ILLUMINA	$0	–	-19,641	–	-0.95%	–
NXPI	Exit	NXP SEMICONDUCTORS	$0	–	-42,225	–	-1.02%	–
SJM	Exit	SMUCKER J M	$0	–	-32,891	–	-1.04%	–
XLNX	Exit	XILINX	$0	–	-92,126	–	-1.08%	–
XOM	Exit	EXXON MOBIL	$0	–	-52,723	–	-1.08%	–
PRGO	Exit	PERRIGO CO	$0	–	-25,287	–	-1.10%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-52,545	–	-1.10%	–
UL	Exit	UNILEVER PLC NEW ADR	$0	–	-98,230	–	-1.11%	–
KR	Exit	KROGER	$0	–	-111,265	–	-1.11%	–
	Exit	BOLLORE	$0	–	-900,000	–	-1.21%	–
SPY	Exit	S P D R TRUST SER 1	$0	–	-23,525	–	-1.24%	–
ORCL	Exit	ORACLE	$0	–	-129,741	–	-1.29%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-102,205	–	-1.33%	–
CSCO	Exit	CISCO SYS INC	$0	–	-188,755	–	-1.37%	–
EMC	Exit	E M C CORP MASS	$0	–	-211,720	–	-1.41%	–
INTC	Exit	INTEL CORP	$0	–	-176,598	–	-1.47%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-123,336	–	-1.50%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-128,346	–	-1.57%	–
HD	Exit	HOME DEPOT	$0	–	-50,305	–	-1.60%	–
TGT	Exit	TARGET CORP	$0	–	-77,357	–	-1.68%	–
SLB	Exit	SCHLUMBERGER	$0	–	-88,704	–	-1.69%	–
JCI	Exit	JOHNSON CONTROLS	$0	–	-148,420	–	-1.70%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-70,783	–	-1.74%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-207,672	–	-1.89%	–
ABT	Exit	ABBOTT LABS	$0	–	-171,659	–	-1.91%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-69,616	–	-1.95%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-162,395	–	-1.95%	–
ATR	Exit	APTARGROUP	$0	–	-110,095	–	-2.01%	–
GOOGL	Exit	ALPHABET INC CL A	$0	–	-13,468	–	-2.38%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-155,056	–	-2.43%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-125,399	–	-2.49%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-125,448	–	-2.61%	–
FISV	Exit	FISERV	$0	–	-114,498	–	-2.74%	–
MMM	Exit	3M	$0	–	-70,441	–	-2.76%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-120,860	–	-3.07%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-119,637	–	-3.08%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-145,405	–	-3.23%	–
AAPL	Exit	APPLE INC	$0	–	-108,975	–	-3.32%	–
MA	Exit	MASTERCARD	$0	–	-141,156	–	-3.51%	–
CVS	Exit	CVS HEALTH	$0	–	-139,721	–	-3.72%	–

Q3 2015

			Value		Shares		↓ Weighting
CVS	Buy	CVS HEALTH	$13,480,000	-5.7%	139,721	+2.5%	3.72%	+1.4%
MA	Buy	MASTERCARD	$12,721,000	+3.7%	141,156	+7.6%	3.51%	+11.6%
AAPL	Buy	APPLE INC	$12,020,000	-8.6%	108,975	+3.9%	3.32%	-1.7%
ADP	Buy	AUTOMATIC DATA PROCESSING	$11,685,000	+1.6%	145,405	+1.5%	3.23%	+9.4%
JNJ	Buy	JOHNSON & JOHNSON	$11,168,000	-2.0%	119,637	+2.3%	3.08%	+5.4%
NVS	Buy	NOVARTIS AG ADR	$11,109,000	-4.2%	120,860	+2.5%	3.07%	+3.1%
MMM	Buy	3M	$9,986,000	-6.1%	70,441	+2.2%	2.76%	+1.0%
FISV	Buy	FISERV	$9,917,000	+6.8%	114,498	+2.1%	2.74%	+14.9%
NSRGY	Buy	NESTLE SA ADR	$9,439,000	+8.4%	125,448	+4.0%	2.61%	+16.6%
PG	Sell	PROCTER & GAMBLE	$9,021,000	-8.2%	125,399	-0.1%	2.49%	-1.2%
CNI	Buy	CANADIAN NATL RAILWAY	$8,801,000	+0.3%	155,056	+2.1%	2.43%	+7.9%
GOOGL	New	ALPHABET INC CL A	$8,598,000	–	13,468	–	2.38%	–
ATR	Buy	APTARGROUP	$7,262,000	+9.2%	110,095	+5.6%	2.01%	+17.5%
	Buy	NOVOZYMES A S DKK 2.0	$7,075,000	-5.6%	162,395	+3.0%	1.95%	+1.6%
ROK	Buy	ROCKWELL AUTOMATION	$7,064,000	-14.6%	69,616	+4.9%	1.95%	-8.1%
ABT	Buy	ABBOTT LABS	$6,904,000	-0.4%	171,659	+21.5%	1.91%	+7.1%
RHHBY	Buy	ROCHE HLDG LTD ADR	$6,843,000	-0.4%	207,672	+6.0%	1.89%	+7.2%
UTX	Buy	UNITED TECHNOLOGIES	$6,299,000	-18.9%	70,783	+1.1%	1.74%	-12.7%
JCI	Buy	JOHNSON CONTROLS	$6,139,000	-11.7%	148,420	+5.8%	1.70%	-4.9%
SLB	Buy	SCHLUMBERGER	$6,118,000	-10.4%	88,704	+12.0%	1.69%	-3.5%
TGT	Buy	TARGET CORP	$6,085,000	+1.0%	77,357	+4.8%	1.68%	+8.7%
HD	Buy	HOME DEPOT	$5,810,000	+4.7%	50,305	+0.7%	1.60%	+12.6%
MSFT	Sell	MICROSOFT CORP	$5,681,000	-0.1%	128,346	-0.3%	1.57%	+7.5%
EMR	Sell	EMERSON ELECTRIC	$5,448,000	-21.0%	123,336	-0.9%	1.50%	-15.0%
INTC	Sell	INTEL CORP	$5,323,000	-1.2%	176,598	-0.3%	1.47%	+6.3%
EMC	Sell	E M C CORP MASS	$5,115,000	-9.3%	211,720	-0.9%	1.41%	-2.3%
CSCO	Sell	CISCO SYS INC	$4,955,000	-8.2%	188,755	-3.9%	1.37%	-1.2%
HP	Buy	HELMERICH & PAYNE	$4,830,000	-28.7%	102,205	+6.3%	1.33%	-23.2%
ORCL	Buy	ORACLE	$4,686,000	-6.3%	129,741	+4.5%	1.29%	+0.8%
SPY	Buy	S P D R TRUST SER 1	$4,507,000	+0.6%	23,525	+8.1%	1.24%	+8.3%
KR	Buy	KROGER	$4,013,000	+36.2%	111,265	+173.9%	1.11%	+46.6%
UL	Buy	UNILEVER PLC NEW ADR	$4,006,000	+195.9%	98,230	+211.6%	1.11%	+217.8%
IPGP	Buy	IPG PHOTONICS	$3,992,000	-10.3%	52,545	+0.6%	1.10%	-3.4%
PRGO	Buy	PERRIGO CO	$3,977,000	-11.5%	25,287	+4.0%	1.10%	-4.8%
XOM	Buy	EXXON MOBIL	$3,920,000	-7.7%	52,723	+3.3%	1.08%	-0.6%
XLNX	Sell	XILINX	$3,906,000	-5.1%	92,126	-1.1%	1.08%	+2.2%
SJM	Buy	SMUCKER J M	$3,753,000	+6.6%	32,891	+1.2%	1.04%	+14.7%
NXPI	Sell	NXP SEMICONDUCTORS	$3,677,000	-11.8%	42,225	-0.5%	1.02%	-5.0%
ILMN	Buy	ILLUMINA	$3,453,000	-16.5%	19,641	+3.7%	0.95%	-10.2%
CVX	Sell	CHEVRON	$3,263,000	-48.8%	41,360	-37.4%	0.90%	-44.9%
MRK	Buy	MERCK	$3,052,000	-13.1%	61,790	+0.2%	0.84%	-6.4%
PBA	Sell	PEMBINA PIPELINE CO	$2,892,000	-26.9%	120,450	-1.6%	0.80%	-21.3%
CB	Sell	CHUBB CORP	$2,674,000	+22.2%	21,799	-5.2%	0.74%	+31.5%
ACE	New	ACE LIMITED	$2,410,000	–	23,305	–	0.67%	–
UNP	Buy	UNION PACIFIC	$2,341,000	+0.3%	26,474	+8.2%	0.65%	+8.0%
QCOM	Sell	QUALCOMM	$2,087,000	-61.6%	38,841	-55.3%	0.58%	-58.7%
CYN	Sell	CITY NATIONAL	$2,064,000	-3.1%	23,435	-0.5%	0.57%	+4.2%
CL	Buy	COLGATE-PALMOLIVE	$1,907,000	+2.1%	30,047	+5.3%	0.53%	+10.0%
ABBV	Buy	ABBVIE	$1,778,000	-16.7%	32,680	+2.9%	0.49%	-10.4%
	Buy	FPA CRESCENT FUNDequity mutual fu	$1,771,000	+7.1%	55,314	+12.9%	0.49%	+15.3%
SE	Buy	SPECTRA ENERGY	$1,725,000	+28650.0%	65,668	+33065.7%	0.48%	+23700.0%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$1,714,000	-6.3%	13,145	-2.2%	0.47%	+0.6%
WM	Buy	WASTE MANAGEMENT INC	$1,490,000	+83.5%	29,920	+70.8%	0.41%	+98.1%
ISIS	Buy	ISIS PHARMACEUTICAL	$1,475,000	-27.2%	36,485	+3.7%	0.41%	-21.7%
KO	Sell	COCA COLA	$1,239,000	-4.5%	30,872	-6.7%	0.34%	+2.7%
GE	Sell	GENERAL ELECTRIC	$1,219,000	-5.8%	48,322	-0.8%	0.34%	+1.5%
MDT	Sell	MEDTRONIC	$1,178,000	-14.4%	17,595	-5.3%	0.32%	-7.9%
XYL	Sell	XYLEM INC	$1,108,000	-68.7%	33,741	-64.6%	0.31%	-66.3%
SRCL	Buy	STERICYCLE	$1,069,000	+43.5%	7,677	+37.9%	0.30%	+54.5%
ECL	Buy	ECOLAB INC	$1,053,000	+8.9%	9,593	+12.2%	0.29%	+17.3%
ALNY	Buy	ALNYLAM PHARMA	$1,007,000	-31.6%	12,525	+2.0%	0.28%	-26.5%
T	Sell	AT&T INC.	$1,001,000	-15.8%	30,737	-8.2%	0.28%	-9.5%
CHD	Buy	CHURCH & DWIGHT	$971,000	+6.5%	11,568	+2.9%	0.27%	+14.5%
IWB	Sell	ISHARES RUSSELL 1000	$967,000	-18.5%	9,030	-11.7%	0.27%	-12.5%
SHW	Sell	SHERWIN WILLIAMS	$933,000	-20.0%	4,190	-1.2%	0.26%	-13.7%
	Buy	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$800,000	+38.9%	53,499	+44.1%	0.22%	+49.3%
PEP	Sell	PEPSICO	$800,000	-5.1%	8,480	-6.1%	0.22%	+2.3%
PFE	Sell	PFIZER	$750,000	-9.4%	23,881	-3.2%	0.21%	-2.8%
MCK	Buy	MCKESSON	$743,000	+18.5%	4,018	+44.0%	0.20%	+27.3%
	Sell	MATTHEWS PACIFIC TIGERequity mutual fu	$732,000	-16.3%	30,234	-0.7%	0.20%	-10.2%
GILD	Buy	GILEAD SCIENCES	$722,000	-3.9%	7,353	+14.6%	0.20%	+3.1%
TJX	Buy	TJX COS	$707,000	+12.6%	9,897	+4.2%	0.20%	+21.1%
PX	Buy	PRAXAIR	$700,000	-5.0%	6,868	+11.3%	0.19%	+2.1%
IRM	Sell	IRON MOUNTAIN	$653,000	-10.7%	21,066	-10.7%	0.18%	-4.3%
IVW	New	ISHARES S&P 500 GROWTH	$647,000	–	6,000	–	0.18%	–
SYK	Sell	STRYKER CORP	$634,000	-7.2%	6,741	-5.7%	0.18%	0.0%
WFC	Buy	WELLS FARGO	$614,000	-2.2%	11,959	+7.2%	0.17%	+5.6%
ITW	Sell	ILLINOIS TOOL WORKS	$606,000	-11.5%	7,364	-1.3%	0.17%	-5.1%
	Buy	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$590,000	+35.3%	41,711	+48.2%	0.16%	+45.5%
BMY	Sell	BRISTOL-MYERS SQUIBB	$585,000	-14.0%	9,885	-3.2%	0.16%	-7.4%
OEF	Sell	ISHARES S&P 100 INDEX FUNDequity mutual fu	$572,000	-14.2%	6,741	-8.2%	0.16%	-7.6%
EOG	Sell	EOG RESOURCES	$549,000	-26.6%	7,538	-11.8%	0.15%	-20.8%
AZO	Sell	AUTO ZONE	$543,000	+1.7%	750	-6.2%	0.15%	+9.5%
APH	Buy	AMPHENOL	$525,000	-8.5%	10,306	+4.0%	0.14%	-1.4%
IVE	New	ISHARES S&P 500 VALUE INDEX FU	$513,000	–	6,100	–	0.14%	–
CICHY	Buy	CHINA CONSTRUCT UNSPN AD	$508,000	-23.1%	38,087	+5.2%	0.14%	-17.6%
ETP	Sell	ENERGY TRANSFER PTNRS LP	$498,000	-55.5%	12,123	-43.5%	0.14%	-51.9%
SYY	Buy	SYSCO	$493,000	+9.3%	12,660	+1.4%	0.14%	+17.2%
IWF	Sell	ISHARES RUSSELL 1000 GROWTH	$423,000	-19.4%	4,550	-14.2%	0.12%	-13.3%
VZ	Sell	VERIZON COMMUNICATIONS	$397,000	-27.9%	9,121	-22.9%	0.11%	-22.0%
DHR	Buy	DANAHER CORP	$392,000	+4.0%	4,600	+4.5%	0.11%	+11.3%
SO	Sell	SOUTHERN CO	$389,000	-6.3%	8,700	-12.1%	0.11%	0.0%
TYG	Sell	TORTOISE ENERGY INFRASTRUCTURE	$376,000	-43.8%	13,871	-23.5%	0.10%	-39.5%
BIDU	Buy	BAIDU ADR REP ONE CL A ORD	$364,000	-28.9%	2,646	+2.8%	0.10%	-22.9%
VOD	Sell	VODAFONE PLC SP ADR	$362,000	-41.9%	11,396	-33.4%	0.10%	-37.5%
GPC	Sell	GENUINE PARTS	$355,000	-9.4%	4,280	-2.3%	0.10%	-3.0%
IVV	Sell	ISHARES S&P 500	$343,000	-63.8%	1,780	-61.1%	0.10%	-60.9%
	Buy	NOVOZYMES A S SER B DKK2	$338,000	-3.2%	7,755	+5.7%	0.09%	+3.3%
HR	Sell	HEALTHCARE REALTY TRUST	$323,000	-18.6%	12,995	-23.8%	0.09%	-12.7%
NEE	Sell	NEXTERA ENERGY	$306,000	-7.8%	3,136	-7.4%	0.08%	0.0%
MON	Sell	MONSANTO	$309,000	-38.7%	3,615	-23.6%	0.08%	-34.1%
TEVA	Sell	TEVA PHARMACEUTICAL	$306,000	-20.1%	5,423	-16.4%	0.08%	-13.3%
MKC	New	MCCORMICK & CO	$299,000	–	3,638	–	0.08%	–
ICE	New	INTERCONTINENTAL EXCHANGE GROU	$298,000	–	1,268	–	0.08%	–
GIS	Sell	GENERAL MILLS	$293,000	-4.9%	5,227	-5.4%	0.08%	+2.5%
ESRX	New	EXPRESS SCRIPTS	$282,000	–	3,483	–	0.08%	–
CMCSA	Sell	COMCAST CORP NEW CL A	$271,000	-13.4%	4,762	-8.5%	0.08%	-6.2%
NVZMY	Buy	NOVOZYMES UNSPN ADR	$264,000	+16.3%	6,090	+27.4%	0.07%	+25.9%
WMT	Sell	WAL-MART STORES	$263,000	-21.0%	4,062	-13.4%	0.07%	-14.1%
TD	Sell	TORONTO DOMINION BANK	$243,000	-14.1%	6,153	-7.5%	0.07%	-8.2%
SIRO	New	SIRONA DENTAL SYSTEMS	$240,000	–	2,573	–	0.07%	–
VNQ	Sell	VANGUARD REIT	$230,000	-5.7%	3,045	-6.9%	0.06%	+1.6%
NVO	New	NOVO NORDISK A S ADR	$218,000	–	4,012	–	0.06%	–
LUKOY	New	LUKOIL SPONSORED ADR	$216,000	–	6,349	–	0.06%	–
AME	New	AMETEK INC	$209,000	–	3,996	–	0.06%	–
GOOG	New	ALPHABET INC CL C	$208,000	–	342	–	0.06%	–
TSCO	New	TRACTOR SUPPLY	$202,000	–	2,394	–	0.06%	–
AMX	New	AMERICA MOVIL SAB DE CV ADR	$197,000	–	11,904	–	0.05%	–
MCD	Sell	MCDONALDS CORP	$190,000	-5.5%	1,930	-8.5%	0.05%	0.0%
IBM	Sell	INTL BUSINESS MACH	$157,000	-18.7%	1,085	-8.4%	0.04%	-14.0%
	New	FIDELITY FREEDOM 2025equity mutual fu	$153,000	–	12,353	–	0.04%	–
CRM	New	SALESFORCE.COM	$139,000	–	1,998	–	0.04%	–
IBN	New	ICICI BANK LTD	$102,000	–	12,191	–	0.03%	–
BBD	Buy	BANCO BRADESCO S A ADR	$75,000	-20.2%	14,008	+35.9%	0.02%	-12.5%
AUOTY	Sell	AU OPTRONICS CORP	$74,000	-39.8%	25,133	-8.6%	0.02%	-37.5%
BIIB	Buy	BIOGEN	$68,000	-9.3%	232	+25.4%	0.02%	0.0%
RWR	New	SPDR SERIES TRUST DJ REIT	$69,000	–	800	–	0.02%	–
PH	Sell	PARKER HANNIFIN	$65,000	-54.5%	665	-45.7%	0.02%	-51.4%
NHYDY	Sell	NORSK HYDRO ADR	$48,000	-48.9%	14,376	-36.3%	0.01%	-45.8%
TYC	New	TYCO INTL LTD	$1,000	–	25	–	0.00%	–
FITB	New	FIFTH THIRD BANCORP	$1,000	–	77	–	0.00%	–
F	Exit	FORD MOTOR	$0	–	-800	–	-0.00%	–
PNR	Exit	PENTAIR INC	$0	–	-450	–	-0.01%	–
MFG	Exit	MIZUHO FINL GROUP	$0	–	-21,394	–	-0.02%	–
AGN	Exit	ALLERGAN PLC	$0	–	-514	–	-0.04%	–
GOOG	Exit	GOOGLE INC	$0	–	-338	–	-0.04%	–
AON	Exit	AON PLC	$0	–	-2,012	–	-0.05%	–
BBBY	Exit	BED BATH & BEYOND	$0	–	-3,000	–	-0.05%	–
LLTC	Exit	LINEAR TECHNOLOGY	$0	–	-4,775	–	-0.05%	–
VOO	Exit	VANGUARD S&P 500	$0	–	-1,138	–	-0.06%	–
DD	Exit	DU PONT	$0	–	-3,391	–	-0.06%	–
NGG	Exit	NATIONAL GRID PLC	$0	–	-3,375	–	-0.06%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC SPONS	$0	–	-3,833	–	-0.06%	–
CEO	Exit	CNOOC LTD ADR	$0	–	-1,557	–	-0.06%	–
	Exit	VANGUARD 500 INDEX FD ADMIRALequity mutual fu	$0	–	-1,228	–	-0.06%	–
XLE	Exit	SPDR ENERGY SELECT SECTOR FUND	$0	–	-3,200	–	-0.06%	–
PHI	Exit	PHILIPINE LONG DIST TEL	$0	–	-4,092	–	-0.06%	–
YPF	Exit	YPF SA	$0	–	-9,665	–	-0.07%	–
LUKOY	Exit	LUKOIL SPONSORED ADR	$0	–	-6,349	–	-0.07%	–
GLP	Exit	GLOBAL PARTNERS LP	$0	–	-9,110	–	-0.08%	–
KMI	Exit	KINDER MORGAN INC	$0	–	-8,934	–	-0.09%	–
EPZM	Exit	EPIZYME INC	$0	–	-18,000	–	-0.11%	–
MWE	Exit	MARKWEST ENERGY PARTNERS LP	$0	–	-9,285	–	-0.13%	–
EEP	Exit	ENBRIDGE ENERGY PARTNERSL.P.	$0	–	-17,010	–	-0.15%	–
PAGP	Exit	PLAINS GP HOLDINGS LP	$0	–	-24,659	–	-0.16%	–
PAA	Exit	PLAINS ALL AMERN PIPL LP	$0	–	-16,765	–	-0.19%	–
SBNY	Exit	SIGNATURE BANK	$0	–	-5,810	–	-0.22%	–
UNFI	Exit	UNITED NATURAL FOODS	$0	–	-33,869	–	-0.55%	–
STKL	Exit	SUNOPTA INC	$0	–	-237,090	–	-0.65%	–
GOOGL	Exit	GOOGLE INC CL A	$0	–	-8,725	–	-1.21%	–

Q2 2015

			Value		Shares		↓ Weighting
CVS	New	CVS HEALTH	$14,298,000	–	136,326	–	3.67%	–
AAPL	New	APPLE INC	$13,156,000	–	104,887	–	3.38%	–
MA	New	MASTERCARD	$12,267,000	–	131,223	–	3.15%	–
NVS	New	NOVARTIS AG ADR	$11,592,000	–	117,875	–	2.98%	–
ADP	New	AUTOMATIC DATA PROCESSING	$11,499,000	–	143,325	–	2.95%	–
JNJ	New	JOHNSON & JOHNSON	$11,401,000	–	116,977	–	2.93%	–
MMM	New	3M	$10,636,000	–	68,928	–	2.73%	–
PG	New	PROCTER & GAMBLE	$9,822,000	–	125,534	–	2.52%	–
FISV	New	FISERV	$9,285,000	–	112,103	–	2.38%	–
CNI	New	CANADIAN NATL RAILWAY	$8,773,000	–	151,906	–	2.25%	–
NSRGY	New	NESTLE SA ADR	$8,707,000	–	120,663	–	2.24%	–
ROK	New	ROCKWELL AUTOMATION	$8,272,000	–	66,366	–	2.12%	–
UTX	New	UNITED TECHNOLOGIES	$7,763,000	–	69,983	–	1.99%	–
	New	NOVOZYMES A S DKK 2.0	$7,494,000	–	157,645	–	1.92%	–
JCI	New	JOHNSON CONTROLS	$6,951,000	–	140,335	–	1.78%	–
ABT	New	ABBOTT LABS	$6,934,000	–	141,284	–	1.78%	–
EMR	New	EMERSON ELECTRIC	$6,897,000	–	124,431	–	1.77%	–
RHHBY	New	ROCHE HLDG LTD ADR	$6,869,000	–	195,862	–	1.76%	–
SLB	New	SCHLUMBERGER	$6,827,000	–	79,208	–	1.75%	–
HP	New	HELMERICH & PAYNE	$6,773,000	–	96,187	–	1.74%	–
ATR	New	APTARGROUP	$6,652,000	–	104,305	–	1.71%	–
CVX	New	CHEVRON	$6,370,000	–	66,033	–	1.64%	–
TGT	New	TARGET CORP	$6,023,000	–	73,787	–	1.55%	–
MSFT	New	MICROSOFT CORP	$5,686,000	–	128,795	–	1.46%	–
EMC	New	E M C CORP MASS	$5,638,000	–	213,645	–	1.45%	–
HD	New	HOME DEPOT	$5,551,000	–	49,955	–	1.42%	–
QCOM	New	QUALCOMM	$5,437,000	–	86,814	–	1.40%	–
CSCO	New	CISCO SYS INC	$5,395,000	–	196,475	–	1.38%	–
INTC	New	INTEL CORP	$5,389,000	–	177,148	–	1.38%	–
ORCL	New	ORACLE	$5,003,000	–	124,141	–	1.28%	–
	New	BOLLORE	$4,824,000	–	900,000	–	1.24%	–
GOOGL	New	GOOGLE INC CL A	$4,712,000	–	8,725	–	1.21%	–
PRGO	New	PERRIGO CO	$4,493,000	–	24,307	–	1.15%	–
SPY	New	S P D R TRUST SER 1	$4,480,000	–	21,760	–	1.15%	–
IPGP	New	IPG PHOTONICS	$4,450,000	–	52,245	–	1.14%	–
XOM	New	EXXON MOBIL	$4,245,000	–	51,018	–	1.09%	–
NXPI	New	NXP SEMICONDUCTORS	$4,169,000	–	42,450	–	1.07%	–
ILMN	New	ILLUMINA	$4,137,000	–	18,946	–	1.06%	–
XLNX	New	XILINX	$4,115,000	–	93,181	–	1.06%	–
PBA	New	PEMBINA PIPELINE CO	$3,954,000	–	122,400	–	1.02%	–
XYL	New	XYLEM INC	$3,536,000	–	95,391	–	0.91%	–
SJM	New	SMUCKER J M	$3,522,000	–	32,491	–	0.90%	–
MRK	New	MERCK	$3,511,000	–	61,670	–	0.90%	–
KR	New	KROGER	$2,946,000	–	40,625	–	0.76%	–
STKL	New	SUNOPTA INC	$2,544,000	–	237,090	–	0.65%	–
UNP	New	UNION PACIFIC	$2,334,000	–	24,476	–	0.60%	–
CB	New	CHUBB CORP	$2,188,000	–	22,999	–	0.56%	–
UNFI	New	UNITED NATURAL FOODS	$2,157,000	–	33,869	–	0.55%	–
ABBV	New	ABBVIE	$2,135,000	–	31,770	–	0.55%	–
CYN	New	CITY NATIONAL	$2,130,000	–	23,560	–	0.55%	–
ISIS	New	ISIS PHARMACEUTICAL	$2,025,000	–	35,185	–	0.52%	–
CL	New	COLGATE-PALMOLIVE	$1,867,000	–	28,547	–	0.48%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,830,000	–	13,445	–	0.47%	–
	New	FPA CRESCENT FUNDequity mutual fu	$1,653,000	–	48,998	–	0.42%	–
ALNY	New	ALNYLAM PHARMA	$1,472,000	–	12,280	–	0.38%	–
MDT	New	MEDTRONIC	$1,376,000	–	18,572	–	0.35%	–
UL	New	UNILEVER PLC NEW ADR	$1,354,000	–	31,520	–	0.35%	–
KO	New	COCA COLA	$1,297,000	–	33,072	–	0.33%	–
GE	New	GENERAL ELECTRIC	$1,294,000	–	48,715	–	0.33%	–
IWB	New	ISHARES RUSSELL 1000	$1,187,000	–	10,230	–	0.30%	–
T	New	AT&T INC.	$1,189,000	–	33,487	–	0.30%	–
WBA	New	WALGREEN BOOTS ALLIANCE INC	$1,182,000	–	13,994	–	0.30%	–
APC	New	ANADARKO PETE	$1,171,000	–	15,000	–	0.30%	–
SHW	New	SHERWIN WILLIAMS	$1,166,000	–	4,240	–	0.30%	–
ETP	New	ENERGY TRANSFER PTNRS LP	$1,120,000	–	21,448	–	0.29%	–
	New	PUTNAM CAPITAL SPECTRUM FUND Aequity mutual fu	$1,103,000	–	29,944	–	0.28%	–
DIS	New	DISNEY	$975,000	–	8,540	–	0.25%	–
ECL	New	ECOLAB INC	$967,000	–	8,553	–	0.25%	–
IVV	New	ISHARES S&P 500	$948,000	–	4,580	–	0.24%	–
CHD	New	CHURCH & DWIGHT	$912,000	–	11,243	–	0.23%	–
	New	MATTHEWS PACIFIC TIGERequity mutual fu	$875,000	–	30,453	–	0.22%	–
BOH	New	BANCORP HAWAII	$855,000	–	12,825	–	0.22%	–
SBNY	New	SIGNATURE BANK	$851,000	–	5,810	–	0.22%	–
PEP	New	PEPSICO	$843,000	–	9,030	–	0.22%	–
PFE	New	PFIZER	$828,000	–	24,681	–	0.21%	–
WM	New	WASTE MANAGEMENT INC	$812,000	–	17,520	–	0.21%	–
GILD	New	GILEAD SCIENCES	$751,000	–	6,418	–	0.19%	–
EOG	New	EOG RESOURCES	$748,000	–	8,543	–	0.19%	–
SRCL	New	STERICYCLE	$745,000	–	5,567	–	0.19%	–
PX	New	PRAXAIR	$737,000	–	6,168	–	0.19%	–
IRM	New	IRON MOUNTAIN	$731,000	–	23,585	–	0.19%	–
PAA	New	PLAINS ALL AMERN PIPL LP	$730,000	–	16,765	–	0.19%	–
	New	IVA INTERNATIONAL FUND CLASS Iequity mutual fu	$718,000	–	41,502	–	0.18%	–
ITW	New	ILLINOIS TOOL WORKS	$685,000	–	7,464	–	0.18%	–
SYK	New	STRYKER CORP	$683,000	–	7,146	–	0.18%	–
BMY	New	BRISTOL-MYERS SQUIBB	$680,000	–	10,215	–	0.18%	–
TYG	New	TORTOISE ENERGY INFRASTRUCTURE	$669,000	–	18,128	–	0.17%	–
OEF	New	ISHARES S&P 100 INDEX FUNDequity mutual fu	$667,000	–	7,341	–	0.17%	–
CICHY	New	CHINA CONSTRUCT UNSPN AD	$661,000	–	36,209	–	0.17%	–
	New	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$641,000	–	12,016	–	0.16%	–
PAGP	New	PLAINS GP HOLDINGS LP	$637,000	–	24,659	–	0.16%	–
TJX	New	TJX COS	$628,000	–	9,497	–	0.16%	–
WFC	New	WELLS FARGO	$628,000	–	11,159	–	0.16%	–
MCK	New	MCKESSON	$627,000	–	2,790	–	0.16%	–
VOD	New	VODAFONE PLC SP ADR	$623,000	–	17,101	–	0.16%	–
TSM	New	TAIWAN S MANUFCTRING ADR	$596,000	–	26,248	–	0.15%	–
	New	ROBECO BOSTON PARTNERS LONG SHequity mutual fu	$576,000	–	37,121	–	0.15%	–
APH	New	AMPHENOL	$574,000	–	9,906	–	0.15%	–
EEP	New	ENBRIDGE ENERGY PARTNERSL.P.	$567,000	–	17,010	–	0.15%	–
VZ	New	VERIZON COMMUNICATIONS	$551,000	–	11,826	–	0.14%	–
AZO	New	AUTO ZONE	$534,000	–	800	–	0.14%	–
IWF	New	ISHARES RUSSELL 1000 GROWTH	$525,000	–	5,300	–	0.14%	–
MWE	New	MARKWEST ENERGY PARTNERS LP	$523,000	–	9,285	–	0.13%	–
SPG	New	SIMON PROPERTY GROUP	$515,000	–	2,979	–	0.13%	–
BIDU	New	BAIDU ADR REP ONE CL A ORD	$512,000	–	2,574	–	0.13%	–
MON	New	MONSANTO	$504,000	–	4,733	–	0.13%	–
APD	New	AIR PRODUCTS & CHEM	$499,000	–	3,650	–	0.13%	–
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$489,000	–	8,407	–	0.13%	–
TR	New	TOOTSIE ROLL	$489,000	–	15,149	–	0.13%	–
CHL	New	CHINA MOBILE LTD SPN ADR	$489,000	–	7,630	–	0.13%	–
SYY	New	SYSCO	$451,000	–	12,485	–	0.12%	–
	New	WALTHAUSEN SELECT VALUE FUND Iequity mutual fu	$436,000	–	28,151	–	0.11%	–
EPZM	New	EPIZYME INC	$432,000	–	18,000	–	0.11%	–
AFL	New	AFLAC INC	$434,000	–	6,975	–	0.11%	–
SO	New	SOUTHERN CO	$415,000	–	9,900	–	0.11%	–
NTES	New	NETEASE.COM INC ADR	$417,000	–	2,878	–	0.11%	–
	New	DFA GLOBAL REAL ESTATE SECURITequity mutual fu	$413,000	–	41,070	–	0.11%	–
DCI	New	DONALDSON INC	$405,000	–	11,300	–	0.10%	–
HR	New	HEALTHCARE REALTY TRUST	$397,000	–	17,050	–	0.10%	–
IDXX	New	IDEXX CORP	$393,000	–	6,128	–	0.10%	–
GPC	New	GENUINE PARTS	$392,000	–	4,380	–	0.10%	–
FDS	New	FACTSET RESH SYS	$391,000	–	2,403	–	0.10%	–
TEVA	New	TEVA PHARMACEUTICAL	$383,000	–	6,484	–	0.10%	–
DHR	New	DANAHER CORP	$377,000	–	4,400	–	0.10%	–
	New	NOVOZYMES A S SER B DKK2	$349,000	–	7,340	–	0.09%	–
KHOLY	New	KOC HLDG AS-UNSPON	$347,000	–	14,892	–	0.09%	–
KMI	New	KINDER MORGAN INC	$343,000	–	8,934	–	0.09%	–
	New	AKRE FOCUS INSTITUTIONAL FUNDequity mutual fu	$334,000	–	14,016	–	0.09%	–
WMT	New	WAL-MART STORES	$333,000	–	4,692	–	0.08%	–
NEE	New	NEXTERA ENERGY	$332,000	–	3,386	–	0.08%	–
	New	DODGE & COX STOCK FUNDequity mutual fu	$326,000	–	1,810	–	0.08%	–
CMCSA	New	COMCAST CORP NEW CL A	$313,000	–	5,202	–	0.08%	–
GIS	New	GENERAL MILLS	$308,000	–	5,527	–	0.08%	–
TLK	New	TELEKOMUNIKASI INDONESIASP ADR	$309,000	–	7,117	–	0.08%	–
CIOXY	New	CIELO SA	$305,000	–	21,588	–	0.08%	–
PPERY	New	BANK MANDIRI TBK-UNSPON ADR	$302,000	–	40,011	–	0.08%	–
NKE	New	NIKE INC CLASS B	$302,000	–	2,799	–	0.08%	–
GLP	New	GLOBAL PARTNERS LP	$296,000	–	9,110	–	0.08%	–
USB	New	US BANCORP	$295,000	–	6,798	–	0.08%	–
	New	T ROWE PRICE GROWTH STOCKequity mutual fu	$298,000	–	5,358	–	0.08%	–
KB	New	KB FINANCIAL GROUP INC	$283,000	–	8,614	–	0.07%	–
TD	New	TORONTO DOMINION BANK	$283,000	–	6,653	–	0.07%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$284,000	–	2,000	–	0.07%	–
LUKOY	New	LUKOIL SPONSORED ADR	$285,000	–	6,349	–	0.07%	–
ABEV	New	AMBEV SA	$285,000	–	46,700	–	0.07%	–
BDORY	New	BANCO DO BRASIL SA-SPON	$281,000	–	36,169	–	0.07%	–
PTAIY	New	PT ASTRA INTL ADR	$273,000	–	26,046	–	0.07%	–
LOW	New	LOWES COMPANIES	$268,000	–	4,000	–	0.07%	–
SHG	New	SHINHAN FINL GRP SP ADR	$266,000	–	7,183	–	0.07%	–
YPF	New	YPF SA	$265,000	–	9,665	–	0.07%	–
PHI	New	PHILIPINE LONG DIST TEL	$255,000	–	4,092	–	0.06%	–
EQT	New	EQT CORP	$255,000	–	3,135	–	0.06%	–
LZRFY	New	LOCALIZA RENT A CAR	$248,000	–	25,189	–	0.06%	–
VNQ	New	VANGUARD REIT	$244,000	–	3,270	–	0.06%	–
TFX	New	TELEFLEX	$244,000	–	1,800	–	0.06%	–
CLCGY	New	CLICKS GROUP LTD SPONSORED ADR	$240,000	–	15,846	–	0.06%	–
BBSEY	New	BB SEGURIDADE	$242,000	–	21,826	–	0.06%	–
XLE	New	SPDR ENERGY SELECT SECTOR FUND	$241,000	–	3,200	–	0.06%	–
WLWHY	New	WOOLWORTHS HLDGS S ADR	$243,000	–	29,601	–	0.06%	–
	New	VANGUARD 500 INDEX FD ADMIRALequity mutual fu	$234,000	–	1,228	–	0.06%	–
CIBEY	New	COML INL BK SP ADR	$226,000	–	30,697	–	0.06%	–
NVZMY	New	NOVOZYMES UNSPN ADR	$227,000	–	4,780	–	0.06%	–
CEO	New	CNOOC LTD ADR	$221,000	–	1,557	–	0.06%	–
SBRCY	New	SBERBANK RUSSIA	$224,000	–	42,122	–	0.06%	–
DD	New	DU PONT	$217,000	–	3,391	–	0.06%	–
NGG	New	NATIONAL GRID PLC	$218,000	–	3,375	–	0.06%	–
RDSA	New	ROYAL DUTCH SHELL PLC SPONS	$219,000	–	3,833	–	0.06%	–
VOO	New	VANGUARD S&P 500	$215,000	–	1,138	–	0.06%	–
LLTC	New	LINEAR TECHNOLOGY	$211,000	–	4,775	–	0.05%	–
BBBY	New	BED BATH & BEYOND	$207,000	–	3,000	–	0.05%	–
OGZPY	New	OAO GAZPROM SPON ADR	$201,000	–	38,093	–	0.05%	–
SGBLY	New	STD BK GRP LTD S ADR	$204,000	–	15,408	–	0.05%	–
AON	New	AON PLC	$201,000	–	2,012	–	0.05%	–
MCD	New	MCDONALDS CORP	$201,000	–	2,110	–	0.05%	–
IBM	New	INTL BUSINESS MACH	$193,000	–	1,185	–	0.05%	–
KCDMY	New	KIMBERLY CLARK DE MX SABDE CV	$190,000	–	17,492	–	0.05%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$192,000	–	10,919	–	0.05%	–
AKBTY	New	AKBANK TURK SPON ADR REGANONIM	$184,000	–	31,647	–	0.05%	–
TKC	New	TURKCELL ILETISIM ADR	$182,000	–	15,867	–	0.05%	–
MBT	New	MOBILE TELESYS OJSC ADR	$179,000	–	18,303	–	0.05%	–
IHLDY	New	IMPERIAL HOLDINGS AD	$179,000	–	11,690	–	0.05%	–
GOOG	New	GOOGLE INC	$176,000	–	338	–	0.04%	–
WEICY	New	WIECHAI POWER ADR	$176,000	–	13,182	–	0.04%	–
	New	HARDING LOEVNER FRONTIER EMERGequity mutual fu	$177,000	–	20,664	–	0.04%	–
SLLDY	New	SANLAM LTD SP ADR	$166,000	–	15,070	–	0.04%	–
SRGHY	New	SHOPRITE HOLDINGS LT	$161,000	–	11,195	–	0.04%	–
AGN	New	ALLERGAN PLC	$156,000	–	514	–	0.04%	–
STT	New	STATE STREET	$146,000	–	1,900	–	0.04%	–
PH	New	PARKER HANNIFIN	$143,000	–	1,225	–	0.04%	–
CSUAY	New	CHINA SHENHUA ENERGY CO LTD	$141,000	–	15,519	–	0.04%	–
CIG	New	COMPANHIA ENERG DE ADR	$136,000	–	35,582	–	0.04%	–
JPM	New	JPMORGAN CHASE	$136,000	–	2,006	–	0.04%	–
AUOTY	New	AU OPTRONICS CORP	$123,000	–	27,503	–	0.03%	–
VDMCY	New	VODACOM GROUP LTD. SPONSORED A	$123,000	–	10,823	–	0.03%	–
	New	TOMRA SYSTEMS A S A	$112,000	–	12,300	–	0.03%	–
AEG	New	AEGON N.V. NY REG SHS	$108,000	–	14,553	–	0.03%	–
NHYDY	New	NORSK HYDRO ADR	$94,000	–	22,572	–	0.02%	–
MFG	New	MIZUHO FINL GROUP	$93,000	–	21,394	–	0.02%	–
BBD	New	BANCO BRADESCO S A ADR	$94,000	–	10,309	–	0.02%	–
BDBD	New	BOULDER BRANDS INC	$85,000	–	12,300	–	0.02%	–
PEXNY	New	PTT EXPLORATION & PRODUCTION P	$80,000	–	12,758	–	0.02%	–
PPCYY	New	PPC LTD	$82,000	–	28,319	–	0.02%	–
BIIB	New	BIOGEN	$75,000	–	185	–	0.02%	–
TIF	New	TIFFANY & CO	$69,000	–	750	–	0.02%	–
VALEP	New	VALE SA PFD SHS ADR	$64,000	–	12,717	–	0.02%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$58,000	–	1,080	–	0.02%	–
MNGPY	New	MAN GROUP PLC UNSP A	$55,000	–	22,945	–	0.01%	–
ALL	New	ALLSTATE	$52,000	–	800	–	0.01%	–
AMGN	New	AMGEN INC	$34,000	–	222	–	0.01%	–
BSX	New	BOSTON SCIENTIFIC	$36,000	–	2,020	–	0.01%	–
PNR	New	PENTAIR INC	$31,000	–	450	–	0.01%	–
UPS	New	UNITED PARCEL SVC CL B	$31,000	–	317	–	0.01%	–
AMZN	New	AMAZON.COM	$27,000	–	62	–	0.01%	–
HES	New	HESS CORPORATION	$10,000	–	150	–	0.00%	–
F	New	FORD MOTOR	$12,000	–	800	–	0.00%	–
SE	New	SPECTRA ENERGY	$6,000	–	198	–	0.00%	–
AEP	New	AMN ELEC POWER AMERICAN	$5,000	–	100	–	0.00%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
	Exit	FRAC FIRST HORIZON NATL CORP	$0	–	-187,721	–	0.00%	–
SE	Exit	SPECTRA ENERGY	$0	–	-198	–	-0.00%	–
AMZN	Exit	AMAZON.COM	$0	–	-37	–	-0.00%	–
BSX	Exit	BOSTON SCIENTIFIC	$0	–	-1,400	–	-0.01%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-216	–	-0.01%	–
UPS	Exit	UNITED PARCEL SVC CL B	$0	–	-242	–	-0.01%	–
MOS	Exit	MOSAIC CO	$0	–	-567	–	-0.01%	–
PNR	Exit	PENTAIR INC	$0	–	-450	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-222	–	-0.01%	–
F	Exit	FORD MOTOR	$0	–	-3,144	–	-0.01%	–
HES	Exit	HESS CORPORATION	$0	–	-505	–	-0.02%	–
ALL	Exit	ALLSTATE	$0	–	-800	–	-0.02%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-579	–	-0.02%	–
USB	Exit	US BANCORP	$0	–	-1,538	–	-0.02%	–
STT	Exit	STATE STREET	$0	–	-915	–	-0.02%	–
OXY	Exit	OCCIDENTAL PETE	$0	–	-725	–	-0.02%	–
GOOGL	Exit	GOOGLE INC CL A	$0	–	-135	–	-0.02%	–
TIF	Exit	TIFFANY & CO	$0	–	-875	–	-0.03%	–
GOOG	Exit	GOOGLE INC	$0	–	-147	–	-0.03%	–
C	Exit	CITIGROUP	$0	–	-1,706	–	-0.03%	–
AEP	Exit	AMN ELEC POWER AMERICAN	$0	–	-1,700	–	-0.03%	–
MFG	Exit	MIZUHO FINL GROUP	$0	–	-26,017	–	-0.03%	–
	Exit	TOMRA SYSTEMS A S A	$0	–	-12,300	–	-0.03%	–
AGN	Exit	ALLERGAN INC	$0	–	-592	–	-0.03%	–
DIS	Exit	DISNEY	$0	–	-1,200	–	-0.03%	–
PPCYY	Exit	PPC LTD	$0	–	-20,132	–	-0.03%	–
AXS	Exit	AXIS CAPITAL HOLDINGS LTD	$0	–	-2,400	–	-0.04%	–
SBS	Exit	COMPANHIA D SNMNTO BSCO D ESTD	$0	–	-14,363	–	-0.04%	–
ORFLY	Exit	ORIFLAME COSMETICS	$0	–	-14,041	–	-0.04%	–
VDMCY	Exit	VODACOM GROUP LTD. SPONSORED A	$0	–	-10,885	–	-0.04%	–
PEXNY	Exit	PTT EXPLORATION & PRODUCTION P	$0	–	-12,758	–	-0.04%	–
ECL	Exit	ECOLAB INC	$0	–	-1,100	–	-0.04%	–
VALEP	Exit	VALE SA PFD SHS ADR	$0	–	-13,027	–	-0.04%	–
WFC	Exit	WELLS FARGO	$0	–	-2,669	–	-0.04%	–
SRGHY	Exit	SHOPRITE HOLDINGS LT	$0	–	-11,292	–	-0.04%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-2,386	–	-0.04%	–
BDBD	Exit	BOULDER BRANDS INC	$0	–	-12,300	–	-0.05%	–
IHLDY	Exit	IMPERIAL HOLDINGS AD	$0	–	-10,921	–	-0.05%	–
SGBLY	Exit	STD BK GRP LTD S ADR	$0	–	-15,358	–	-0.06%	–
CSUAY	Exit	CHINA SHENHUA ENERGY CO LTD	$0	–	-15,870	–	-0.06%	–
CLCGY	Exit	CLICKS GROUP LTD SPONSORED ADR	$0	–	-15,846	–	-0.06%	–
WLWHY	Exit	WOOLWORTHS HLDGS S ADR	$0	–	-30,030	–	-0.06%	–
CIG	Exit	COMPANHIA ENERG DE ADR	$0	–	-30,818	–	-0.06%	–
WEICY	Exit	WIECHAI POWER ADR	$0	–	-13,304	–	-0.06%	–
TKC	Exit	TURKCELL ILETISIM ADR	$0	–	-14,916	–	-0.06%	–
	Exit	HARDING LOEVNER FRONTIER EMERGequity mutual fu	$0	–	-20,298	–	-0.06%	–
VNQ	Exit	VANGUARD REIT	$0	–	-2,820	–	-0.06%	–
	Exit	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$0	–	-10,919	–	-0.06%	–
SLLDY	Exit	SANLAM LTD SP ADR	$0	–	-6,919	–	-0.06%	–
STO	Exit	STATOIL ASA SHS	$0	–	-7,530	–	-0.06%	–
SSYS	Exit	STRATASYS LTD	$0	–	-1,700	–	-0.06%	–
	Exit	AMERICAN GROWTH FUND OF AMERICequity mutual fu	$0	–	-4,448	–	-0.06%	–
VOD	Exit	VODAFONE PLC SP ADR	$0	–	-6,255	–	-0.06%	–
CIBEY	Exit	COML INL BK SP ADR	$0	–	-30,697	–	-0.06%	–
KCDMY	Exit	KIMBERLY CLARK DE MX SABDE CV	$0	–	-17,492	–	-0.06%	–
UHS	Exit	UNIVERSAL HEALTH SERVICES CL B	$0	–	-2,000	–	-0.06%	–
LOW	Exit	LOWES COMPANIES	$0	–	-4,000	–	-0.07%	–
AKBTY	Exit	AKBANK TURK SPON ADR REGANONIM	$0	–	-32,553	–	-0.07%	–
SSL	Exit	SASOL LTD SPONSORED ADR	$0	–	-3,867	–	-0.07%	–
PSGTY	Exit	SEMEN GRESIK-UNSPON ADR	$0	–	-8,602	–	-0.07%	–
WMB	Exit	THE WILLIAMS CO	$0	–	-4,115	–	-0.07%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-5,043	–	-0.08%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC SPONS	$0	–	-3,199	–	-0.08%	–
	Exit	VANGUARD 500 INDEX FUND SIGNALequity mutual fu	$0	–	-1,672	–	-0.08%	–
PTAIY	Exit	PT ASTRA INTL ADR	$0	–	-22,118	–	-0.08%	–
EPD	Exit	ENTERPRISE PRODUCTS PTNR	$0	–	-6,468	–	-0.08%	–
OGZPY	Exit	OAO GAZPROM SPON ADR	$0	–	-38,093	–	-0.08%	–
WAG	Exit	WALGREEN	$0	–	-4,516	–	-0.08%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-1,420	–	-0.08%	–
LUKOY	Exit	LUKOIL SPONSORED ADR	$0	–	-5,260	–	-0.08%	–
CEO	Exit	CNOOC LTD ADR	$0	–	-1,557	–	-0.08%	–
ABEV	Exit	AMBEV SA	$0	–	-43,137	–	-0.09%	–
PHI	Exit	PHILIPINE LONG DIST TEL	$0	–	-4,168	–	-0.09%	–
BBSEY	Exit	BB SEGURIDADE	$0	–	-22,040	–	-0.09%	–
	Exit	T ROWE PRICE GROWTH STOCKequity mutual fu	$0	–	-5,358	–	-0.09%	–
CIOXY	Exit	CIELO SA	$0	–	-18,420	–	-0.09%	–
	Exit	AKRE FOCUS INSTITUTIONAL FUNDequity mutual fu	$0	–	-13,727	–	-0.09%	–
PPERY	Exit	BANK MANDIRI TBK-UNSPON ADR	$0	–	-36,685	–	-0.10%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-2,503	–	-0.10%	–
	Exit	NOVOZYMES A S SER B DKK2	$0	–	-6,695	–	-0.10%	–
KB	Exit	KB FINANCIAL GROUP INC	$0	–	-8,614	–	-0.10%	–
MBT	Exit	MOBILE TELESYS OJSC ADR	$0	–	-21,237	–	-0.10%	–
TLK	Exit	TELEKOMUNIKASI INDONESIASP ADR	$0	–	-6,586	–	-0.10%	–
SHG	Exit	SHINHAN FINL GRP SP ADR	$0	–	-7,183	–	-0.10%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-3,486	–	-0.10%	–
DHR	Exit	DANAHER CORP	$0	–	-4,400	–	-0.10%	–
GIS	Exit	GENERAL MILLS	$0	–	-6,752	–	-0.11%	–
MDT	Exit	MEDTRONIC	$0	–	-5,575	–	-0.11%	–
TEVA	Exit	TEVA PHARMACEUTICAL	$0	–	-6,413	–	-0.11%	–
WMT	Exit	WAL-MART STORES	$0	–	-4,552	–	-0.11%	–
DBO	Exit	POWERSHARES DB OIL FUND	$0	–	-13,300	–	-0.11%	–
LZRFY	Exit	LOCALIZA RENT A CAR	$0	–	-25,189	–	-0.11%	–
YPF	Exit	YPF SA	$0	–	-9,805	–	-0.11%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,880	–	-0.12%	–
SBRCY	Exit	SBERBANK RUSSIA	$0	–	-46,984	–	-0.12%	–
GPC	Exit	GENUINE PARTS	$0	–	-4,275	–	-0.12%	–
KHOLY	Exit	KOC HLDG AS-UNSPON	$0	–	-16,358	–	-0.12%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-7,748	–	-0.12%	–
	Exit	DFA GLOBAL REAL ESTATE SECURITequity mutual fu	$0	–	-39,555	–	-0.12%	–
NTES	Exit	NETEASE.COM INC ADR	$0	–	-4,706	–	-0.13%	–
BDORY	Exit	BANCO DO BRASIL SA-SPON	$0	–	-38,750	–	-0.13%	–
	Exit	DODGE & COX STOCK FUNDequity mutual fu	$0	–	-2,310	–	-0.13%	–
CMCSA	Exit	COMCAST CORP NEW CL A	$0	–	-7,834	–	-0.13%	–
AFL	Exit	AFLAC INC	$0	–	-7,500	–	-0.14%	–
SYY	Exit	SYSCO	$0	–	-11,860	–	-0.14%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-8,845	–	-0.15%	–
DCI	Exit	DONALDSON INC	$0	–	-11,800	–	-0.15%	–
EPZM	Exit	EPIZYME INC	$0	–	-18,000	–	-0.15%	–
TSM	Exit	TAIWAN S MANUFCTRING ADR	$0	–	-24,363	–	-0.15%	–
SO	Exit	SOUTHERN CO	$0	–	-11,300	–	-0.15%	–
BIDU	Exit	BAIDU ADR REP ONE CL A ORD	$0	–	-2,295	–	-0.16%	–
PFE	Exit	PFIZER	$0	–	-17,176	–	-0.16%	–
AZO	Exit	AUTO ZONE	$0	–	-1,000	–	-0.16%	–
CHL	Exit	CHINA MOBILE LTD SPN ADR	$0	–	-8,995	–	-0.16%	–
CICHY	Exit	CHINA CONSTRUCT UNSPN AD	$0	–	-38,000	–	-0.17%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-4,150	–	-0.17%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-11,725	–	-0.19%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-12,128	–	-0.19%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-17,995	–	-0.19%	–
	Exit	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$0	–	-11,419	–	-0.20%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-24,888	–	-0.20%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-7,564	–	-0.20%	–
	Exit	IVA INTERNATIONAL FUND CLASS Iequity mutual fu	$0	–	-36,135	–	-0.20%	–
EEP	Exit	ENBRIDGE ENERGY PARTNERSL.P.	$0	–	-17,010	–	-0.21%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-3,045	–	-0.21%	–
FEZ	Exit	SPDR EURO STOXX 50 ETF	$0	–	-18,050	–	-0.22%	–
MWE	Exit	MARKWEST ENERGY PARTNERS LP	$0	–	-10,291	–	-0.25%	–
	Exit	MATTHEWS PACIFIC TIGERequity mutual fu	$0	–	-28,964	–	-0.26%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR	$0	–	-18,842	–	-0.27%	–
ALNY	Exit	ALNYLAM PHARMA	$0	–	-12,030	–	-0.29%	–
IWB	Exit	ISHARES RUSSELL 1000	$0	–	-8,880	–	-0.30%	–
PAA	Exit	PLAINS ALL AMERN PIPL LP	$0	–	-16,913	–	-0.31%	–
	Exit	PUTNAM CAPITAL SPECTRUM FUND Aequity mutual fu	$0	–	-28,831	–	-0.34%	–
ABBV	Exit	ABBVIE	$0	–	-19,010	–	-0.34%	–
UNFI	Exit	UNITED NATURAL FOODS	$0	–	-18,484	–	-0.36%	–
T	Exit	AT&T INC.	$0	–	-33,790	–	-0.37%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-8,977	–	-0.39%	–
STKL	Exit	SUNOPTA INC	$0	–	-105,600	–	-0.40%	–
ISIS	Exit	ISIS PHARMACEUTICAL	$0	–	-34,885	–	-0.42%	–
SPY	Exit	S P D R TRUST SER 1	$0	–	-7,356	–	-0.45%	–
APC	Exit	ANADARKO PETE	$0	–	-15,000	–	-0.48%	–
KO	Exit	COCA COLA	$0	–	-38,051	–	-0.51%	–
CB	Exit	CHUBB CORP	$0	–	-18,129	–	-0.52%	–
ETP	Exit	ENERGY TRANSFER PTNRS LP	$0	–	-25,834	–	-0.52%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-27,937	–	-0.57%	–
XYL	Exit	XYLEM INC	$0	–	-65,831	–	-0.73%	–
UNP	Exit	UNION PACIFIC	$0	–	-24,076	–	-0.82%	–
PEP	Exit	PEPSICO	$0	–	-31,762	–	-0.92%	–
MON	Exit	MONSANTO	$0	–	-28,546	–	-1.00%	–
SJM	Exit	SMUCKER J M	$0	–	-32,491	–	-1.01%	–
MRK	Exit	MERCK	$0	–	-54,685	–	-1.01%	–
XLNX	Exit	XILINX	$0	–	-81,571	–	-1.08%	–
CYN	Exit	CITY NATIONAL	$0	–	-45,870	–	-1.09%	–
IPGP	Exit	IPG PHOTONICS	$0	–	-52,215	–	-1.12%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-105,747	–	-1.22%	–
HD	Exit	HOME DEPOT	$0	–	-43,201	–	-1.24%	–
NXPI	Exit	NXP SEMICONDUCTORS	$0	–	-58,500	–	-1.25%	–
ABT	Exit	ABBOTT LABS	$0	–	-98,452	–	-1.28%	–
ORCL	Exit	ORACLE	$0	–	-108,657	–	-1.30%	–
ILMN	Exit	ILLUMINA	$0	–	-25,446	–	-1.30%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-38,237	–	-1.31%	–
TGT	Exit	TARGET CORP	$0	–	-69,777	–	-1.37%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-42,998	–	-1.42%	–
CSCO	Exit	CISCO SYS INC	$0	–	-180,740	–	-1.42%	–
PRGO	Exit	PERRIGO CO	$0	–	-32,570	–	-1.53%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-108,923	–	-1.58%	–
	Exit	BOLLORE	$0	–	-9,000	–	-1.60%	–
QCOM	Exit	QUALCOMM	$0	–	-69,039	–	-1.62%	–
PBA	Exit	PEMBINA PIPELINE CO	$0	–	-123,750	–	-1.63%	–
JCI	Exit	JOHNSON CONTROLS INC	$0	–	-123,344	–	-1.70%	–
ATR	Exit	APTARGROUP	$0	–	-94,760	–	-1.80%	–
EMC	Exit	E M C CORP MASS	$0	–	-204,427	–	-1.87%	–
FISV	Exit	FISERV	$0	–	-94,055	–	-1.90%	–
SLB	Exit	SCHLUMBERGER	$0	–	-63,221	–	-2.01%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-150,640	–	-2.04%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-105,528	–	-2.07%	–
XOM	Exit	EXXON MOBIL	$0	–	-72,473	–	-2.13%	–
CVX	Exit	CHEVRON	$0	–	-60,081	–	-2.24%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-101,998	–	-2.35%	–
INTC	Exit	INTEL CORP	$0	–	-215,981	–	-2.35%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-77,876	–	-2.38%	–
MMM	Exit	3M	$0	–	-61,130	–	-2.71%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-123,640	–	-2.82%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-112,844	–	-2.96%	–
MA	Exit	MASTERCARD	$0	–	-129,320	–	-2.99%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-136,636	–	-3.03%	–
AAPL	Exit	APPLE INC	$0	–	-96,268	–	-3.03%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-106,800	–	-3.14%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-95,845	–	-3.20%	–
CVS	Exit	CVS HEALTH	$0	–	-135,624	–	-3.38%	–

Q3 2014

			Value		Shares		↓ Weighting
CVS	Sell	CVS HEALTH	$10,794,000	+1.4%	135,624	-4.0%	3.38%	+4.5%
JNJ	Buy	JOHNSON & JOHNSON	$10,216,000	+1.9%	95,845	+0.0%	3.20%	+5.0%
NVS	Buy	NOVARTIS AG ADR	$10,053,000	+4.6%	106,800	+0.6%	3.14%	+7.9%
AAPL	Buy	APPLE INC	$9,699,000	+9.3%	96,268	+0.9%	3.03%	+12.7%
CNI	Sell	CANADIAN NATL RAILWAY	$9,696,000	+4.6%	136,636	-4.2%	3.03%	+7.9%
MA	Sell	MASTERCARD	$9,559,000	-3.3%	129,320	-3.9%	2.99%	-0.3%
PG	Buy	PROCTER & GAMBLE	$9,450,000	+6.9%	112,844	+0.3%	2.96%	+10.2%
ADP	Buy	AUTOMATIC DATA PROCESSING	$9,011,000	-7.8%	123,640	+0.3%	2.82%	-4.9%
MMM	Buy	3M	$8,661,000	+0.4%	61,130	+1.5%	2.71%	+3.6%
HP	Buy	HELMERICH & PAYNE	$7,622,000	-15.2%	77,876	+0.6%	2.38%	-12.5%
INTC	Buy	INTEL CORP	$7,520,000	+12.8%	215,981	+0.1%	2.35%	+16.3%
NSRGY	Buy	NESTLE SA ADR	$7,510,000	-4.8%	101,998	+0.4%	2.35%	-1.9%
CVX	Sell	CHEVRON	$7,169,000	-8.7%	60,081	-0.1%	2.24%	-5.9%
XOM	Sell	EXXON MOBIL	$6,816,000	-8.9%	72,473	-2.5%	2.13%	-6.1%
EMR	Buy	EMERSON ELECTRIC	$6,604,000	-3.9%	105,528	+1.9%	2.07%	-0.9%
	Buy	NOVOZYMES A S DKK 2.0	$6,536,000	-13.4%	150,640	+0.1%	2.04%	-10.7%
SLB	Buy	SCHLUMBERGER	$6,429,000	-13.6%	63,221	+0.3%	2.01%	-10.9%
FISV	Buy	FISERV	$6,080,000	+8.3%	94,055	+1.0%	1.90%	+11.7%
EMC	Buy	E M C CORP MASS	$5,982,000	+11.8%	204,427	+0.7%	1.87%	+15.3%
ATR	Buy	APTARGROUP	$5,752,000	-8.3%	94,760	+1.2%	1.80%	-5.5%
JCI	Buy	JOHNSON CONTROLS INC	$5,427,000	-10.5%	123,344	+1.6%	1.70%	-7.8%
PBA	Sell	PEMBINA PIPELINE CO	$5,215,000	-2.5%	123,750	-0.6%	1.63%	+0.5%
QCOM	Buy	QUALCOMM	$5,162,000	+6.6%	69,039	+13.0%	1.62%	+9.9%
MSFT	Sell	MICROSOFT CORP	$5,050,000	+9.6%	108,923	-1.4%	1.58%	+12.9%
PRGO	Buy	PERRIGO CO	$4,892,000	+38.2%	32,570	+34.1%	1.53%	+42.5%
CSCO	Sell	CISCO SYS INC	$4,549,000	-0.9%	180,740	-2.2%	1.42%	+2.2%
UTX	Buy	UNITED TECHNOLOGIES	$4,541,000	-5.7%	42,998	+3.0%	1.42%	-2.9%
TGT	Sell	TARGET CORP	$4,374,000	+7.3%	69,777	-0.8%	1.37%	+10.6%
ROK	Buy	ROCKWELL AUTOMATION	$4,202,000	-11.6%	38,237	+0.7%	1.31%	-8.9%
ILMN	Buy	ILLUMINA	$4,171,000	-8.1%	25,446	+0.1%	1.30%	-5.2%
ORCL	Buy	ORACLE	$4,159,000	-5.5%	108,657	+0.1%	1.30%	-2.5%
ABT	Buy	ABBOTT LABS	$4,095,000	+3.0%	98,452	+1.3%	1.28%	+6.2%
NXPI	Sell	NXP SEMICONDUCTORS	$4,003,000	-7.0%	58,500	-10.0%	1.25%	-4.1%
HD	Sell	HOME DEPOT	$3,963,000	+12.5%	43,201	-0.8%	1.24%	+16.0%
RHHBY	Buy	ROCHE HLDG LTD ADR	$3,912,000	+0.8%	105,747	+1.6%	1.22%	+3.9%
IPGP	Buy	IPG PHOTONICS	$3,591,000	+0.3%	52,215	+0.3%	1.12%	+3.4%
CYN	Buy	CITY NATIONAL	$3,471,000	+17.4%	45,870	+17.6%	1.09%	+21.1%
XLNX	Buy	XILINX	$3,455,000	-1.5%	81,571	+10.1%	1.08%	+1.6%
MRK	Sell	MERCK	$3,242,000	-7.7%	54,685	-9.9%	1.01%	-4.8%
SJM	Buy	SMUCKER J M	$3,216,000	-7.0%	32,491	+0.2%	1.01%	-4.1%
MON	Buy	MONSANTO	$3,212,000	-9.0%	28,546	+0.9%	1.00%	-6.2%
PEP	Sell	PEPSICO	$2,957,000	-14.8%	31,762	-18.2%	0.92%	-12.1%
UNP	Buy	UNION PACIFIC	$2,610,000	+9.0%	24,076	+0.3%	0.82%	+12.4%
XYL	Buy	XYLEM INC	$2,336,000	+28.5%	65,831	+41.5%	0.73%	+32.4%
CL	Sell	COLGATE-PALMOLIVE	$1,822,000	-4.4%	27,937	-0.0%	0.57%	-1.4%
ETP	Sell	ENERGY TRANSFER PTNRS LP	$1,653,000	+7.2%	25,834	-2.9%	0.52%	+10.5%
CB	Buy	CHUBB CORP	$1,651,000	-0.7%	18,129	+0.6%	0.52%	+2.4%
KO	Sell	COCA COLA	$1,623,000	-6.0%	38,051	-6.7%	0.51%	-3.1%
SPY	Buy	S P D R TRUST SER 1	$1,449,000	+535.5%	7,356	+530.9%	0.45%	+556.5%
ISIS	Buy	ISIS PHARMACEUTICAL	$1,355,000	+50.4%	34,885	+33.4%	0.42%	+55.3%
STKL	Buy	SUNOPTA INC	$1,275,000	+24.1%	105,600	+44.8%	0.40%	+27.9%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$1,240,000	+7.9%	8,977	-1.1%	0.39%	+11.2%
T	Sell	AT&T INC.	$1,191,000	-1.7%	33,790	-1.5%	0.37%	+1.4%
UNFI	Buy	UNITED NATURAL FOODS	$1,136,000	+21.4%	18,484	+28.6%	0.36%	+25.0%
ABBV	Buy	ABBVIE	$1,098,000	+3.2%	19,010	+0.8%	0.34%	+6.2%
PAA	Sell	PLAINS ALL AMERN PIPL LP	$995,000	-2.1%	16,913	-0.0%	0.31%	+1.0%
ALNY	Buy	ALNYLAM PHARMA	$940,000	+24.0%	12,030	+0.2%	0.29%	+27.8%
GSK	Buy	GLAXOSMITHKLINE PLC ADR	$866,000	-13.9%	18,842	+0.2%	0.27%	-11.1%
MWE	Sell	MARKWEST ENERGY PARTNERS LP	$791,000	+6.3%	10,291	-1.0%	0.25%	+9.3%
	New	IVA INTERNATIONAL FUND CLASS Iequity mutual fu	$646,000	–	36,135	–	0.20%	–
ITW	Buy	ILLINOIS TOOL WORKS	$639,000	-1.7%	7,564	+2.0%	0.20%	+1.5%
GE	Buy	GENERAL ELECTRIC	$638,000	+0.3%	24,888	+2.8%	0.20%	+3.6%
	Buy	FPA CRESCENT FUNDequity mutual fu	$612,000	-1.3%	17,995	+0.5%	0.19%	+1.6%
VZ	Sell	VERIZON COMMUNICATIONS	$606,000	-3.7%	12,128	-5.6%	0.19%	-0.5%
BMY	Sell	BRISTOL-MYERS SQUIBB	$600,000	+4.5%	11,725	-0.9%	0.19%	+8.0%
APD	Sell	AIR PRODUCTS & CHEM	$540,000	-12.2%	4,150	-13.2%	0.17%	-9.6%
CHL	Buy	CHINA MOBILE LTD SPN ADR	$528,000	+26.3%	8,995	+4.5%	0.16%	+29.9%
BIDU	Buy	BAIDU ADR REP ONE CL A ORD	$501,000	+27.8%	2,295	+9.5%	0.16%	+31.9%
EPZM	Sell	EPIZYME INC	$488,000	-49.4%	18,000	-41.9%	0.15%	-47.8%
SYY	Sell	SYSCO	$450,000	+0.4%	11,860	-0.8%	0.14%	+3.7%
AFL	Buy	AFLAC INC	$437,000	-4.0%	7,500	+2.7%	0.14%	-0.7%
CMCSA	Buy	COMCAST CORP NEW CL A	$421,000	+4.7%	7,834	+4.7%	0.13%	+8.2%
NTES	Buy	NETEASE.COM INC ADR	$403,000	+26.7%	4,706	+15.9%	0.13%	+31.2%
	New	DFA GLOBAL REAL ESTATE SECURITequity mutual fu	$390,000	–	39,555	–	0.12%	–
GPC	Sell	GENUINE PARTS	$375,000	-2.3%	4,275	-2.3%	0.12%	+0.9%
SBRCY	Buy	SBERBANK RUSSIA	$370,000	-6.3%	46,984	+20.9%	0.12%	-3.3%
MCD	Sell	MCDONALDS CORP	$368,000	-9.6%	3,880	-4.0%	0.12%	-6.5%
WMT	Sell	WAL-MART STORES	$348,000	-4.4%	4,552	-6.2%	0.11%	-0.9%
MDT	Buy	MEDTRONIC	$345,000	-0.6%	5,575	+2.3%	0.11%	+2.9%
TEVA	Sell	TEVA PHARMACEUTICAL	$345,000	-2.8%	6,413	-5.2%	0.11%	0.0%
GIS	Sell	GENERAL MILLS	$341,000	-4.5%	6,752	-0.7%	0.11%	-0.9%
NEE	Sell	NEXTERA ENERGY	$327,000	-8.9%	3,486	-0.4%	0.10%	-6.4%
SHG	Buy	SHINHAN FINL GRP SP ADR	$327,000	+4.8%	7,183	+5.7%	0.10%	+7.4%
TLK	Sell	TELEKOMUNIKASI INDONESIASP ADR	$317,000	+8.2%	6,586	-6.3%	0.10%	+11.2%
MBT	Sell	MOBILE TELESYS OJSC ADR	$317,000	-27.8%	21,237	-4.6%	0.10%	-25.6%
	Buy	NOVOZYMES A S SER B DKK2	$310,000	-0.6%	6,695	+7.6%	0.10%	+2.1%
PPERY	Sell	BANK MANDIRI TBK-UNSPON ADR	$303,000	-11.7%	36,685	-12.3%	0.10%	-8.7%
	New	AKRE FOCUS INSTITUTIONAL FUNDequity mutual fu	$299,000	–	13,727	–	0.09%	–
CIOXY	Sell	CIELO SA	$300,000	-30.7%	18,420	-12.0%	0.09%	-28.2%
BBSEY	Buy	BB SEGURIDADE	$289,000	-4.6%	22,040	+6.8%	0.09%	-2.2%
ABEV	Buy	AMBEV SA	$283,000	-4.4%	43,137	+2.7%	0.09%	-1.1%
WAG	Buy	WALGREEN	$268,000	-18.0%	4,516	+2.3%	0.08%	-15.2%
EPD	Sell	ENTERPRISE PRODUCTS PTNR	$261,000	-77.3%	6,468	-56.0%	0.08%	-76.5%
	Buy	VANGUARD 500 INDEX FUND SIGNALequity mutual fu	$251,000	+13.6%	1,672	+13.1%	0.08%	+17.9%
RDSA	Sell	ROYAL DUTCH SHELL PLC SPONS	$244,000	-13.5%	3,199	-6.4%	0.08%	-11.6%
TXN	Sell	TEXAS INSTRUMENTS	$241,000	-2.8%	5,043	-2.9%	0.08%	0.0%
WMB	Buy	THE WILLIAMS CO	$228,000	-1.3%	4,115	+3.8%	0.07%	+1.4%
LOW	New	LOWES COMPANIES	$212,000	–	4,000	–	0.07%	–
UHS	New	UNIVERSAL HEALTH SERVICES CL B	$209,000	–	2,000	–	0.06%	–
CIBEY	Sell	COML INL BK SP ADR	$208,000	-15.1%	30,697	-37.8%	0.06%	-12.2%
VOD	Sell	VODAFONE PLC SP ADR	$206,000	-29.9%	6,255	-28.9%	0.06%	-28.1%
SSYS	New	STRATASYS LTD	$205,000	–	1,700	–	0.06%	–
VNQ	Sell	VANGUARD REIT	$203,000	-5.6%	2,820	-1.8%	0.06%	-3.1%
	New	HARDING LOEVNER FRONTIER EMERGequity mutual fu	$200,000	–	20,298	–	0.06%	–
WLWHY	Buy	WOOLWORTHS HLDGS S ADR	$192,000	-13.5%	30,030	+900.0%	0.06%	-10.4%
CIG	Buy	COMPANHIA ENERG DE ADR	$192,000	-14.7%	30,818	+9.6%	0.06%	-11.8%
BDBD	Sell	BOULDER BRANDS INC	$168,000	-11.1%	12,300	-7.5%	0.05%	-7.0%
ECL	Buy	ECOLAB INC	$126,000	+15.6%	1,100	+12.2%	0.04%	+18.2%
AEP	Sell	AMN ELEC POWER AMERICAN	$89,000	-23.9%	1,700	-19.0%	0.03%	-20.0%
C	Buy	CITIGROUP	$88,000	+14.3%	1,706	+4.3%	0.03%	+21.7%
OXY	Buy	OCCIDENTAL PETE	$70,000	+600.0%	725	+625.0%	0.02%	+633.3%
NKE	Buy	NIKE INC CLASS B	$52,000	+20.9%	579	+5.5%	0.02%	+23.1%
HES	Sell	HESS CORPORATION	$48,000	-20.0%	505	-16.5%	0.02%	-16.7%
F	Buy	FORD MOTOR	$46,000	-11.5%	3,144	+3.3%	0.01%	-12.5%
AMGN	Buy	AMGEN INC	$31,000	+244.4%	222	+208.3%	0.01%	+233.3%
MOS	Buy	MOSAIC CO	$25,000	+4.2%	567	+17.4%	0.01%	+14.3%
UPS	Buy	UNITED PARCEL SVC CL B	$24,000	+50.0%	242	+51.2%	0.01%	+60.0%
AXP	Sell	AMERICAN EXPRESS	$19,000	-45.7%	216	-41.0%	0.01%	-45.5%
BSX	New	BOSTON SCIENTIFIC	$17,000	–	1,400	–	0.01%	–
	Exit	PRICER AB ORD CL B	$0	–	-24,000	–	-0.01%	–
SYK	Exit	STRYKER CORP	$0	–	-2,400	–	-0.06%	–
RWX	Exit	SPDR INDEX SHARES FUNDS	$0	–	-4,660	–	-0.06%	–
BMA	Exit	BANCO MACRO SA-ADR	$0	–	-5,745	–	-0.06%	–
GLW	Exit	CORNING INC	$0	–	-10,235	–	-0.07%	–
WYNMY	Exit	WYNN MACAU	$0	–	-6,545	–	-0.08%	–
	Exit	EATON VANCE TAX MGD EMERGING Mequity mutual fu	$0	–	-5,217	–	-0.08%	–
DVY	Exit	ISHARES DOW JONES SELECT DIVID	$0	–	-16,880	–	-0.39%	–
ABB	Exit	ABB LTD SPON ADR	$0	–	-97,500	–	-0.68%	–
F113PS	Exit	COVIDIEN	$0	–	-42,866	–	-1.17%	–

Q2 2014

			Value		Shares		↓ Weighting
CVS	New	CVS CAREMARK	$10,650,000	–	141,297	–	3.23%	–
JNJ	New	JOHNSON & JOHNSON	$10,026,000	–	95,830	–	3.04%	–
MA	New	MASTERCARD	$9,883,000	–	134,522	–	3.00%	–
ADP	New	AUTOMATIC DATA PROCESSING	$9,769,000	–	123,220	–	2.96%	–
NVS	New	NOVARTIS AG ADR	$9,609,000	–	106,147	–	2.92%	–
CNI	New	CANADIAN NATL RAILWAY	$9,270,000	–	142,571	–	2.81%	–
HP	New	HELMERICH & PAYNE	$8,986,000	–	77,391	–	2.73%	–
AAPL	New	APPLE INC	$8,871,000	–	95,454	–	2.69%	–
PG	New	PROCTER & GAMBLE	$8,839,000	–	112,469	–	2.68%	–
MMM	New	3M	$8,623,000	–	60,197	–	2.62%	–
NSRGY	New	NESTLE SA ADR	$7,892,000	–	101,608	–	2.39%	–
CVX	New	CHEVRON	$7,851,000	–	60,136	–	2.38%	–
	New	NOVOZYMES A S DKK 2.0	$7,548,000	–	150,490	–	2.29%	–
XOM	New	EXXON MOBIL	$7,483,000	–	74,329	–	2.27%	–
SLB	New	SCHLUMBERGER	$7,438,000	–	63,061	–	2.26%	–
EMR	New	EMERSON ELECTRIC	$6,873,000	–	103,567	–	2.08%	–
INTC	New	INTEL CORP	$6,667,000	–	215,771	–	2.02%	–
ATR	New	APTARGROUP	$6,276,000	–	93,660	–	1.90%	–
JCI	New	JOHNSON CONTROLS INC	$6,064,000	–	121,449	–	1.84%	–
	New	BOLLORE	$5,841,000	–	9,000	–	1.77%	–
FISV	New	FISERV	$5,615,000	–	93,090	–	1.70%	–
EMC	New	E M C CORP MASS	$5,350,000	–	203,102	–	1.62%	–
PBA	New	PEMBINA PIPELINE CO	$5,351,000	–	124,450	–	1.62%	–
QCOM	New	QUALCOMM	$4,841,000	–	61,119	–	1.47%	–
UTX	New	UNITED TECHNOLOGIES	$4,818,000	–	41,736	–	1.46%	–
ROK	New	ROCKWELL AUTOMATION	$4,753,000	–	37,972	–	1.44%	–
MSFT	New	MICROSOFT CORP	$4,609,000	–	110,519	–	1.40%	–
CSCO	New	CISCO SYS INC	$4,592,000	–	184,790	–	1.39%	–
ILMN	New	ILLUMINA	$4,538,000	–	25,416	–	1.38%	–
ORCL	New	ORACLE	$4,401,000	–	108,582	–	1.34%	–
NXPI	New	NXP SEMICONDUCTORS	$4,302,000	–	65,000	–	1.30%	–
TGT	New	TARGET CORP	$4,078,000	–	70,372	–	1.24%	–
ABT	New	ABBOTT LABS	$3,975,000	–	97,187	–	1.21%	–
RHHBY	New	ROCHE HLDG LTD ADR	$3,882,000	–	104,070	–	1.18%	–
F113PS	New	COVIDIEN	$3,866,000	–	42,866	–	1.17%	–
IPGP	New	IPG PHOTONICS	$3,580,000	–	52,040	–	1.09%	–
PRGO	New	PERRIGO CO	$3,539,000	–	24,280	–	1.07%	–
MON	New	MONSANTO	$3,530,000	–	28,298	–	1.07%	–
HD	New	HOME DEPOT	$3,524,000	–	43,531	–	1.07%	–
MRK	New	MERCK	$3,511,000	–	60,685	–	1.06%	–
XLNX	New	XILINX	$3,506,000	–	74,101	–	1.06%	–
PEP	New	PEPSICO	$3,469,000	–	38,827	–	1.05%	–
SJM	New	SMUCKER J M	$3,457,000	–	32,441	–	1.05%	–
CYN	New	CITY NATIONAL	$2,956,000	–	39,015	–	0.90%	–
UNP	New	UNION PACIFIC	$2,394,000	–	24,000	–	0.73%	–
ABB	New	ABB LTD SPON ADR	$2,244,000	–	97,500	–	0.68%	–
CL	New	COLGATE-PALMOLIVE	$1,905,000	–	27,947	–	0.58%	–
XYL	New	XYLEM INC	$1,818,000	–	46,531	–	0.55%	–
KO	New	COCA COLA	$1,727,000	–	40,780	–	0.52%	–
CB	New	CHUBB CORP	$1,662,000	–	18,029	–	0.50%	–
APC	New	ANADARKO PETE	$1,642,000	–	15,000	–	0.50%	–
ETP	New	ENERGY TRANSFER PTNRS LP	$1,542,000	–	26,598	–	0.47%	–
DVY	New	ISHARES DOW JONES SELECT DIVID	$1,299,000	–	16,880	–	0.39%	–
T	New	AT&T INC.	$1,212,000	–	34,290	–	0.37%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$1,149,000	–	9,075	–	0.35%	–
EPD	New	ENTERPRISE PRODUCTS PTNR	$1,150,000	–	14,689	–	0.35%	–
	New	PUTNAM CAPITAL SPECTRUM FUND Aequity mutual fu	$1,095,000	–	28,831	–	0.33%	–
ABBV	New	ABBVIE	$1,064,000	–	18,860	–	0.32%	–
STKL	New	SUNOPTA INC	$1,027,000	–	72,950	–	0.31%	–
PAA	New	PLAINS ALL AMERN PIPL LP	$1,016,000	–	16,919	–	0.31%	–
GSK	New	GLAXOSMITHKLINE PLC ADR	$1,006,000	–	18,810	–	0.30%	–
IWB	New	ISHARES RUSSELL 1000	$978,000	–	8,880	–	0.30%	–
EPZM	New	EPIZYME INC	$965,000	–	31,000	–	0.29%	–
UNFI	New	UNITED NATURAL FOODS	$936,000	–	14,374	–	0.28%	–
ISIS	New	ISIS PHARMACEUTICAL	$901,000	–	26,145	–	0.27%	–
	New	MATTHEWS PACIFIC TIGERequity mutual fu	$800,000	–	28,964	–	0.24%	–
FEZ	New	SPDR EURO STOXX 50 ETF	$781,000	–	18,050	–	0.24%	–
ALNY	New	ALNYLAM PHARMA	$758,000	–	12,000	–	0.23%	–
MWE	New	MARKWEST ENERGY PARTNERS LP	$744,000	–	10,398	–	0.23%	–
	New	FIRST EAGLE GLOBAL FUND CLASSequity mutual fu	$651,000	–	11,419	–	0.20%	–
ITW	New	ILLINOIS TOOL WORKS	$650,000	–	7,419	–	0.20%	–
GE	New	GENERAL ELECTRIC	$636,000	–	24,219	–	0.19%	–
VZ	New	VERIZON COMMUNICATIONS	$629,000	–	12,849	–	0.19%	–
EEP	New	ENBRIDGE ENERGY PARTNERSL.P.	$628,000	–	17,010	–	0.19%	–
SHW	New	SHERWIN WILLIAMS	$630,000	–	3,045	–	0.19%	–
	New	FPA CRESCENT FUNDequity mutual fu	$620,000	–	17,900	–	0.19%	–
APD	New	AIR PRODUCTS & CHEM	$615,000	–	4,779	–	0.19%	–
BMY	New	BRISTOL-MYERS SQUIBB	$574,000	–	11,837	–	0.17%	–
AZO	New	AUTO ZONE	$536,000	–	1,000	–	0.16%	–
CICHY	New	CHINA CONSTRUCT UNSPN AD	$537,000	–	38,000	–	0.16%	–
TSM	New	TAIWAN S MANUFCTRING ADR	$521,000	–	24,363	–	0.16%	–
SO	New	SOUTHERN CO	$513,000	–	11,300	–	0.16%	–
PFE	New	PFIZER	$510,000	–	17,176	–	0.16%	–
DCI	New	DONALDSON INC	$499,000	–	11,800	–	0.15%	–
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$496,000	–	8,845	–	0.15%	–
AFL	New	AFLAC INC	$455,000	–	7,304	–	0.14%	–
SYY	New	SYSCO	$448,000	–	11,960	–	0.14%	–
MBT	New	MOBILE TELESYS OJSC ADR	$439,000	–	22,257	–	0.13%	–
BDORY	New	BANCO DO BRASIL SA-SPON	$434,000	–	38,750	–	0.13%	–
CIOXY	New	CIELO SA	$433,000	–	20,942	–	0.13%	–
CHL	New	CHINA MOBILE LTD SPN ADR	$418,000	–	8,607	–	0.13%	–
LZRFY	New	LOCALIZA RENT A CAR	$414,000	–	25,189	–	0.13%	–
	New	DODGE & COX STOCK FUNDequity mutual fu	$413,000	–	2,310	–	0.12%	–
DBO	New	POWERSHARES DB OIL FUND	$409,000	–	13,300	–	0.12%	–
MCD	New	MCDONALDS CORP	$407,000	–	4,040	–	0.12%	–
CMCSA	New	COMCAST CORP NEW CL A	$402,000	–	7,480	–	0.12%	–
TD	New	TORONTO DOMINION BANK	$398,000	–	7,748	–	0.12%	–
SBRCY	New	SBERBANK RUSSIA	$395,000	–	38,876	–	0.12%	–
KHOLY	New	KOC HLDG AS-UNSPON	$397,000	–	16,358	–	0.12%	–
BIDU	New	BAIDU ADR REP ONE CL A ORD	$392,000	–	2,096	–	0.12%	–
GPC	New	GENUINE PARTS	$384,000	–	4,375	–	0.12%	–
WMT	New	WAL-MART STORES	$364,000	–	4,852	–	0.11%	–
NEE	New	NEXTERA ENERGY	$359,000	–	3,500	–	0.11%	–
GIS	New	GENERAL MILLS	$357,000	–	6,802	–	0.11%	–
TEVA	New	TEVA PHARMACEUTICAL	$355,000	–	6,763	–	0.11%	–
DHR	New	DANAHER CORP	$346,000	–	4,400	–	0.10%	–
MDT	New	MEDTRONIC	$347,000	–	5,450	–	0.10%	–
PPERY	New	BANK MANDIRI TBK-UNSPON ADR	$343,000	–	41,822	–	0.10%	–
OGZPY	New	OAO GAZPROM SPON ADR	$332,000	–	38,093	–	0.10%	–
WAG	New	WALGREEN	$327,000	–	4,416	–	0.10%	–
YPF	New	YPF SA	$320,000	–	9,805	–	0.10%	–
NTES	New	NETEASE.COM INC ADR	$318,000	–	4,059	–	0.10%	–
LUKOY	New	LUKOIL SPONSORED ADR	$315,000	–	5,260	–	0.10%	–
	New	NOVOZYMES A S SER B DKK2	$312,000	–	6,225	–	0.10%	–
SHG	New	SHINHAN FINL GRP SP ADR	$312,000	–	6,793	–	0.10%	–
BBSEY	New	BB SEGURIDADE	$303,000	–	20,646	–	0.09%	–
KB	New	KB FINANCIAL GROUP INC	$299,000	–	8,614	–	0.09%	–
FDS	New	FACTSET RESH SYS	$301,000	–	2,503	–	0.09%	–
ABEV	New	AMBEV SA	$296,000	–	41,994	–	0.09%	–
VOD	New	VODAFONE PLC SP ADR	$294,000	–	8,793	–	0.09%	–
TLK	New	TELEKOMUNIKASI INDONESIASP ADR	$293,000	–	7,027	–	0.09%	–
	New	T ROWE PRICE GROWTH STOCKequity mutual fu	$289,000	–	5,358	–	0.09%	–
RDSA	New	ROYAL DUTCH SHELL PLC SPONS	$282,000	–	3,419	–	0.09%	–
PHI	New	PHILIPINE LONG DIST TEL	$281,000	–	4,168	–	0.08%	–
CEO	New	CNOOC LTD ADR	$279,000	–	1,557	–	0.08%	–
	New	EATON VANCE TAX MGD EMERGING Mequity mutual fu	$273,000	–	5,217	–	0.08%	–
PTAIY	New	PT ASTRA INTL ADR	$274,000	–	22,118	–	0.08%	–
IBM	New	INTL BUSINESS MACH	$257,000	–	1,420	–	0.08%	–
WYNMY	New	WYNN MACAU	$257,000	–	6,545	–	0.08%	–
TXN	New	TEXAS INSTRUMENTS	$248,000	–	5,195	–	0.08%	–
CIBEY	New	COML INL BK SP ADR	$245,000	–	49,354	–	0.07%	–
KCDMY	New	KIMBERLY CLARK DE MX SABDE CV	$245,000	–	17,492	–	0.07%	–
AKBTY	New	AKBANK TURK SPON ADR REGANONIM	$239,000	–	32,553	–	0.07%	–
TKC	New	TURKCELL ILETISIM ADR	$233,000	–	14,916	–	0.07%	–
WMB	New	THE WILLIAMS CO	$231,000	–	3,964	–	0.07%	–
STO	New	STATOIL ASA SHS	$232,000	–	7,530	–	0.07%	–
SSL	New	SASOL LTD SPONSORED ADR	$229,000	–	3,867	–	0.07%	–
SPY	New	S P D R TRUST SER 1	$228,000	–	1,166	–	0.07%	–
CIG	New	COMPANHIA ENERG DE ADR	$225,000	–	28,129	–	0.07%	–
GLW	New	CORNING INC	$225,000	–	10,235	–	0.07%	–
	New	VANGUARD 500 INDEX FUND SIGNALequity mutual fu	$221,000	–	1,478	–	0.07%	–
WLWHY	New	WOOLWORTHS HLDGS S ADR	$222,000	–	3,003	–	0.07%	–
PSGTY	New	SEMEN GRESIK-UNSPON ADR	$217,000	–	8,602	–	0.07%	–
VNQ	New	VANGUARD REIT	$215,000	–	2,871	–	0.06%	–
BMA	New	BANCO MACRO SA-ADR	$207,000	–	5,745	–	0.06%	–
SGBLY	New	STD BK GRP LTD S ADR	$209,000	–	15,358	–	0.06%	–
	New	AMERICAN GROWTH FUND OF AMERICequity mutual fu	$203,000	–	4,448	–	0.06%	–
RWX	New	SPDR INDEX SHARES FUNDS	$206,000	–	4,660	–	0.06%	–
IHLDY	New	IMPERIAL HOLDINGS AD	$206,000	–	10,921	–	0.06%	–
	New	IVA WORLDWIDE FUND CLASS Iequity mutual fu	$205,000	–	10,919	–	0.06%	–
WEICY	New	WIECHAI POWER ADR	$206,000	–	13,304	–	0.06%	–
SYK	New	STRYKER CORP	$202,000	–	2,400	–	0.06%	–
SLLDY	New	SANLAM LTD SP ADR	$202,000	–	6,919	–	0.06%	–
CLCGY	New	CLICKS GROUP LTD SPONSORED ADR	$192,000	–	15,846	–	0.06%	–
BDBD	New	BOULDER BRANDS INC	$189,000	–	13,300	–	0.06%	–
CSUAY	New	CHINA SHENHUA ENERGY CO LTD	$183,000	–	15,870	–	0.06%	–
ORFLY	New	ORIFLAME COSMETICS	$164,000	–	14,041	–	0.05%	–
SRGHY	New	SHOPRITE HOLDINGS LT	$164,000	–	11,292	–	0.05%	–
VALEP	New	VALE SA PFD SHS ADR	$155,000	–	13,027	–	0.05%	–
SBS	New	COMPANHIA D SNMNTO BSCO D ESTD	$154,000	–	14,363	–	0.05%	–
JPM	New	JPMORGAN CHASE	$137,000	–	2,386	–	0.04%	–
WFC	New	WELLS FARGO	$140,000	–	2,669	–	0.04%	–
VDMCY	New	VODACOM GROUP LTD. SPONSORED A	$135,000	–	10,885	–	0.04%	–
PEXNY	New	PTT EXPLORATION & PRODUCTION P	$131,000	–	12,758	–	0.04%	–
PPCYY	New	PPC LTD	$119,000	–	20,132	–	0.04%	–
AEP	New	AMN ELEC POWER AMERICAN	$117,000	–	2,100	–	0.04%	–
ECL	New	ECOLAB INC	$109,000	–	980	–	0.03%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$106,000	–	2,400	–	0.03%	–
MFG	New	MIZUHO FINL GROUP	$107,000	–	26,017	–	0.03%	–
DIS	New	DISNEY	$103,000	–	1,200	–	0.03%	–
	New	TOMRA SYSTEMS A S A	$100,000	–	12,300	–	0.03%	–
AGN	New	ALLERGAN INC	$100,000	–	592	–	0.03%	–
TIF	New	TIFFANY & CO	$88,000	–	875	–	0.03%	–
GOOG	New	GOOGLE INC	$85,000	–	147	–	0.03%	–
GOOGL	New	GOOGLE INC CL A	$79,000	–	135	–	0.02%	–
C	New	CITIGROUP	$77,000	–	1,636	–	0.02%	–
USB	New	US BANCORP	$67,000	–	1,538	–	0.02%	–
STT	New	STATE STREET	$62,000	–	915	–	0.02%	–
HES	New	HESS CORPORATION	$60,000	–	605	–	0.02%	–
F	New	FORD MOTOR	$52,000	–	3,045	–	0.02%	–
ALL	New	ALLSTATE	$47,000	–	800	–	0.01%	–
NKE	New	NIKE INC CLASS B	$43,000	–	549	–	0.01%	–
AXP	New	AMERICAN EXPRESS	$35,000	–	366	–	0.01%	–
PNR	New	PENTAIR INC	$32,000	–	450	–	0.01%	–
MOS	New	MOSAIC CO	$24,000	–	483	–	0.01%	–
	New	PRICER AB ORD CL B	$21,000	–	24,000	–	0.01%	–
UPS	New	UNITED PARCEL SVC CL B	$16,000	–	160	–	0.01%	–
AMZN	New	AMAZON.COM	$12,000	–	37	–	0.00%	–
OXY	New	OCCIDENTAL PETE	$10,000	–	100	–	0.00%	–
AMGN	New	AMGEN INC	$9,000	–	72	–	0.00%	–
SE	New	SPECTRA ENERGY	$8,000	–	198	–	0.00%	–
	New	FRAC FIRST HORIZON NATL CORP	$0	–	187,721	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
	Exit	BOLLORE RIGHTS EXPIRE 09/27201	$0	–	-12,000	–	0.00%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-319	–	-0.00%	–
UPS	Exit	UNITED PARCEL SVC CL B	$0	–	-79	–	-0.00%	–
NKE	Exit	NIKE INC CLASS B	$0	–	-276	–	-0.01%	–
AMZN	Exit	AMAZON.COM	$0	–	-75	–	-0.01%	–
WFC	Exit	WELLS FARGO	$0	–	-589	–	-0.01%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-600	–	-0.02%	–
AGN	Exit	ALLERGAN INC	$0	–	-557	–	-0.02%	–
STT	Exit	STATE STREET	$0	–	-815	–	-0.02%	–
USB	Exit	US BANCORP	$0	–	-1,538	–	-0.02%	–
MRO	Exit	MARATHON OIL	$0	–	-1,922	–	-0.02%	–
TIF	Exit	TIFFANY & CO	$0	–	-875	–	-0.02%	–
MDT	Exit	MEDTRONIC	$0	–	-1,350	–	-0.03%	–
SGAMY	Exit	SEGA SAMMY HOLDINGS INC ADR	$0	–	-10,063	–	-0.03%	–
DIS	Exit	DISNEY	$0	–	-1,200	–	-0.03%	–
WMT	Exit	WAL-MART STORES	$0	–	-1,129	–	-0.03%	–
AXS	Exit	AXIS CAPITAL HOLDINGS LTD	$0	–	-2,400	–	-0.04%	–
AUY	Exit	YAMANA GOLD INC	$0	–	-10,621	–	-0.04%	–
MFG	Exit	MIZUHO FINL GROUP	$0	–	-26,017	–	-0.04%	–
PPCYY	Exit	PPC LTD	$0	–	-20,132	–	-0.04%	–
VDMCY	Exit	VODACOM GROUP LTD. SPONSORED A	$0	–	-10,885	–	-0.05%	–
KDDIY	Exit	KDDI CP UNSP ADR	$0	–	-10,585	–	-0.05%	–
PEXNY	Exit	PTT EXPLORATION & PRODUCTION P	$0	–	-12,758	–	-0.05%	–
PTAIY	Exit	PT ASTRA INTL ADR	$0	–	-12,912	–	-0.05%	–
SYY	Exit	SYSCO	$0	–	-4,700	–	-0.06%	–
AKBTY	Exit	AKBANK TURK SPON ADR REGANONIM	$0	–	-20,447	–	-0.06%	–
DBOEY	Exit	DEUTSCHE BOERSE AG	$0	–	-20,636	–	-0.06%	–
CIBEY	Exit	COML INL BK SP ADR	$0	–	-32,903	–	-0.06%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-3,354	–	-0.06%	–
SBS	Exit	COMPANHIA D SNMNTO BSCO D ESTD	$0	–	-17,353	–	-0.06%	–
SGBLY	Exit	STD BK GRP LTD S ADR	$0	–	-15,358	–	-0.07%	–
VALEP	Exit	VALE SA PFD SHS ADR	$0	–	-13,027	–	-0.07%	–
IBM	Exit	INTL BUSINESS MACH	$0	–	-1,056	–	-0.07%	–
AZN	Exit	ASTRAZENECA PLC SPND ADR	$0	–	-3,861	–	-0.08%	–
	Exit	EATON VANCE TAX MGD EMERGING Mequity mutual fu	$0	–	-4,196	–	-0.08%	–
WEICY	Exit	WIECHAI POWER ADR	$0	–	-13,304	–	-0.08%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC SPONS	$0	–	-3,151	–	-0.08%	–
TKC	Exit	TURKCELL ILETISIM ADR	$0	–	-14,916	–	-0.08%	–
CLCGY	Exit	CLICKS GROUP LTD SPONSORED ADR	$0	–	-19,874	–	-0.08%	–
WLWHY	Exit	WOOLWORTHS HLDGS S ADR	$0	–	-3,003	–	-0.08%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-2,079	–	-0.08%	–
ORFLY	Exit	ORIFLAME COSMETICS	$0	–	-14,041	–	-0.08%	–
CMCSA	Exit	COMCAST CORP NEW CL A	$0	–	-5,008	–	-0.08%	–
YPF	Exit	YPF SA	$0	–	-11,343	–	-0.08%	–
ABV	Exit	COMPANHIA DE BEBIDAS DAS	$0	–	-5,944	–	-0.08%	–
BBBY	Exit	BED BATH & BEYOND	$0	–	-3,000	–	-0.09%	–
CEO	Exit	CNOOC LTD ADR	$0	–	-1,176	–	-0.09%	–
GPC	Exit	GENUINE PARTS	$0	–	-2,900	–	-0.09%	–
IHLDY	Exit	IMPERIAL HOLDINGS AD	$0	–	-10,921	–	-0.09%	–
SPY	Exit	S P D R TRUST SER 1	$0	–	-1,441	–	-0.09%	–
VZ	Exit	VERIZON COMM	$0	–	-5,228	–	-0.09%	–
BDVSY	Exit	BIDVEST GROUP LTD SP	$0	–	-4,864	–	-0.09%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL B	$0	–	-2,150	–	-0.09%	–
	Exit	VANGUARD GROWTH INDEX FUNDequity mutual fu	$0	–	-6,102	–	-0.09%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-10,749	–	-0.10%	–
PPLT	Exit	ETFS PHYSICAL PLATINUM SHARES	$0	–	-1,888	–	-0.10%	–
NDBKY	Exit	NEDBANK GROUP LTD ADR	$0	–	-12,975	–	-0.10%	–
GIS	Exit	GENERAL MILLS	$0	–	-5,602	–	-0.10%	–
	Exit	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$0	–	-5,445	–	-0.10%	–
WYNMY	Exit	WYNN MACAU	$0	–	-8,080	–	-0.10%	–
SLLDY	Exit	SANLAM LTD SP ADR	$0	–	-11,950	–	-0.10%	–
TLK	Exit	TELEKOMUNIKASI INDONESIASP ADR	$0	–	-7,767	–	-0.10%	–
SLV	Exit	ISHARES SILVER TR	$0	–	-13,544	–	-0.10%	–
PHI	Exit	PHILIPINE LONG DIST TEL	$0	–	-4,168	–	-0.10%	–
OGZPY	Exit	OAO GAZPROM SPON ADR	$0	–	-32,343	–	-0.11%	–
FDS	Exit	FACTSET RESH SYS	$0	–	-2,605	–	-0.11%	–
PPERY	Exit	BANK MANDIRI TBK-UNSPON ADR	$0	–	-41,822	–	-0.11%	–
TEVA	Exit	TEVA PHARMACEUTICAL	$0	–	-7,749	–	-0.11%	–
NTES	Exit	NETEASE.COM INC ADR	$0	–	-4,059	–	-0.11%	–
	Exit	T ROWE PRICE GROWTH STOCKequity mutual fu	$0	–	-6,341	–	-0.11%	–
KB	Exit	KB FINANCIAL GROUP INC	$0	–	-8,614	–	-0.11%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-4,400	–	-0.11%	–
BIDU	Exit	BAIDU ADR REP ONE CL A ORD	$0	–	-2,096	–	-0.12%	–
PALL	Exit	ETFS PHYSICAL PALLADIUM SHARES	$0	–	-4,623	–	-0.12%	–
MCD	Exit	MCDONALDS CORP	$0	–	-3,436	–	-0.12%	–
KHOLY	Exit	KOC HLDG AS-UNSPON	$0	–	-14,269	–	-0.12%	–
PFE	Exit	PFIZER	$0	–	-11,894	–	-0.13%	–
	Exit	FPA CRESCENT FUNDequity mutual fu	$0	–	-10,891	–	-0.13%	–
TD	Exit	TORONTO DOMINION BANK	$0	–	-3,874	–	-0.13%	–
CHL	Exit	CHINA MOBILE LTD SPN ADR	$0	–	-6,234	–	-0.13%	–
	Exit	DODGE & COX STOCK FUNDequity mutual fu	$0	–	-2,310	–	-0.13%	–
SHG	Exit	SHINHAN FINL GRP SP ADR	$0	–	-8,798	–	-0.13%	–
CIOXY	Exit	CIELO SA	$0	–	-13,417	–	-0.14%	–
DBO	Exit	POWERSHARES DB OIL FUND	$0	–	-13,300	–	-0.14%	–
AFL	Exit	AFLAC INC	$0	–	-6,099	–	-0.14%	–
KCDMY	Exit	KIMBERLY CLARK DE MX SABDE CV	$0	–	-26,067	–	-0.14%	–
DBA	Exit	POWERSHARES DB AGRICULTURE FUN	$0	–	-16,100	–	-0.15%	–
TSM	Exit	TAIWAN S MANUFCTRING ADR	$0	–	-24,363	–	-0.15%	–
MBT	Exit	MOBILE TELESYS OJSC ADR	$0	–	-19,323	–	-0.16%	–
GSK	Exit	GLAXOSMITHKLINE PLC ADR	$0	–	-8,770	–	-0.16%	–
T	Exit	AT& T INC	$0	–	-13,174	–	-0.17%	–
BDORY	Exit	BANCO DO BRASIL SA-SPON	$0	–	-38,137	–	-0.17%	–
ABBV	Exit	ABBVIE INC	$0	–	-10,148	–	-0.17%	–
FEZ	Exit	SPDR EURO STOXX 50 ETF	$0	–	-11,790	–	-0.17%	–
SBRCY	Exit	SBERBANK RUSSIA	$0	–	-38,876	–	-0.17%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-6,148	–	-0.18%	–
DCI	Exit	DONALDSON INC	$0	–	-12,800	–	-0.18%	–
	Exit	MATTHEWS PACIFIC TIGERequity mutual fu	$0	–	-20,670	–	-0.19%	–
EEP	Exit	ENBRIDGE ENERGY PARTNERSL.P.	$0	–	-17,279	–	-0.20%	–
AZO	Exit	AUTO ZONE	$0	–	-1,300	–	-0.20%	–
CICHY	Exit	CHINA CONSTRUCT UNSPN AD	$0	–	-38,000	–	-0.22%	–
SHW	Exit	SHERWIN WILLIAMS	$0	–	-3,800	–	-0.26%	–
MWE	Exit	MARKWEST ENERGY PARTNERS LP	$0	–	-9,600	–	-0.26%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-12,372	–	-0.27%	–
EPD	Exit	ENTERPRISE PRODUCTS PTNR	$0	–	-13,127	–	-0.30%	–
DBC	Exit	POWERSHARES DB COMMODITY IND	$0	–	-32,235	–	-0.31%	–
PAA	Exit	PLAINS ALL AMERN PIPL LP	$0	–	-16,365	–	-0.32%	–
ETP	Exit	ENERGY TRANSFER PTNRS LP	$0	–	-16,903	–	-0.33%	–
DVY	Exit	ISHARES DOW JONES SELECT DIVID	$0	–	-15,550	–	-0.38%	–
RJA	Exit	ELEMENTS ROGERS AGRIC TRSV=123equity mutual fu	$0	–	-141,120	–	-0.44%	–
CYN	Exit	CITY NATIONAL	$0	–	-18,835	–	-0.47%	–
TGT	Exit	TARGET CORP	$0	–	-20,136	–	-0.48%	–
APC	Exit	ANADARKO PETE	$0	–	-15,000	–	-0.52%	–
XLNX	Exit	XILINX	$0	–	-31,580	–	-0.55%	–
CB	Exit	CHUBB CORPORATION	$0	–	-16,829	–	-0.56%	–
IPGP	Exit	IPG PHOTONICS CORPORATION	$0	–	-27,215	–	-0.57%	–
	Exit	PERMANENT PORTFOLIOequity mutual fu	$0	–	-36,883	–	-0.65%	–
KO	Exit	COCA COLA	$0	–	-46,514	–	-0.66%	–
UNP	Exit	UNION PACIFIC	$0	–	-12,000	–	-0.70%	–
ALNY	Exit	ALNYLAM PHARMA	$0	–	-30,000	–	-0.72%	–
QCOM	Exit	QUALCOMM	$0	–	-30,440	–	-0.76%	–
TDC	Exit	TERADATA	$0	–	-40,528	–	-0.84%	–
ABB	Exit	ABB LTD SPON ADR	$0	–	-98,115	–	-0.86%	–
ABT	Exit	ABBOTT LABS	$0	–	-76,593	–	-0.95%	–
MRK	Exit	MERCK	$0	–	-57,000	–	-1.01%	–
GLW	Exit	CORNING INC	$0	–	-192,544	–	-1.05%	–
HD	Exit	HOME DEPOT	$0	–	-38,166	–	-1.08%	–
PRGO	Exit	PERRIGO CO	$0	–	-23,874	–	-1.10%	–
ILMN	Exit	ILLUMINA	$0	–	-37,460	–	-1.13%	–
MON	Exit	MONSANTO	$0	–	-31,626	–	-1.23%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-99,813	–	-1.24%	–
SJM	Exit	SMUCKER J M	$0	–	-32,568	–	-1.28%	–
RHHBY	Exit	ROCHE HLDG LTD ADR	$0	–	-51,710	–	-1.30%	–
ORCL	Exit	ORACLE	$0	–	-105,355	–	-1.30%	–
CSCO	Exit	CISCO SYS INC	$0	–	-154,612	–	-1.34%	–
ROK	Exit	ROCKWELL AUTOMATION	$0	–	-35,827	–	-1.43%	–
LH	Exit	LABORATORY CORP AMER	$0	–	-39,025	–	-1.44%	–
RJI	Exit	ELEMENTS - ROGERS TRequity mutual fu	$0	–	-470,610	–	-1.45%	–
NXPI	Exit	NXP SEMICONDUCTORS	$0	–	-106,435	–	-1.48%	–
PBA	Exit	PEMBINA PIPELINE CO	$0	–	-124,250	–	-1.53%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-39,041	–	-1.57%	–
FISV	Exit	FISERV	$0	–	-44,690	–	-1.68%	–
JCI	Exit	JOHNSON CONTROLS INC	$0	–	-113,360	–	-1.75%	–
INTC	Exit	INTEL CORP	$0	–	-205,425	–	-1.76%	–
EMC	Exit	E M C CORP MASS	$0	–	-193,355	–	-1.84%	–
F113PS	Exit	COVIDIEN	$0	–	-83,282	–	-1.89%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-75,366	–	-1.94%	–
ATR	Exit	APTARGROUP	$0	–	-86,850	–	-1.95%	–
SLB	Exit	SCHLUMBERGER	$0	–	-60,575	–	-2.00%	–
XOM	Exit	EXXON MOBIL	$0	–	-64,809	–	-2.08%	–
	Exit	NOVOZYMES A S DKK 2.0	$0	–	-149,660	–	-2.13%	–
AAPL	Exit	APPLE INC	$0	–	-12,645	–	-2.25%	–
MMM	Exit	3M	$0	–	-51,807	–	-2.31%	–
	Exit	BOLLORE	$0	–	-12,000	–	-2.34%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-100,892	–	-2.43%	–
PEP	Exit	PEPSICO	$0	–	-85,219	–	-2.53%	–
CVX	Exit	CHEVRON	$0	–	-56,243	–	-2.55%	–
NSRGY	Exit	NESTLE SA ADR	$0	–	-98,905	–	-2.57%	–
CNI	Exit	CANADIAN NATL RAILWAY	$0	–	-69,571	–	-2.63%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-85,577	–	-2.77%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-99,042	–	-2.79%	–
NVS	Exit	NOVARTIS AG ADR	$0	–	-101,921	–	-2.91%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-110,590	–	-2.98%	–
CVS	Exit	CVS CAREMARK	$0	–	-149,905	–	-3.17%	–
MA	Exit	MASTERCARD	$0	–	-13,180	–	-3.31%	–

Q3 2013

			Value		Shares		↓ Weighting
MA	Buy	MASTERCARD	$8,867,000	+18.7%	13,180	+1.4%	3.31%	+3.8%
CVS	Buy	CVS CAREMARK	$8,507,000	+0.6%	149,905	+1.4%	3.17%	-12.0%
ADP	Buy	AUTOMATIC DATA PROCESSING	$8,005,000	+12.1%	110,590	+6.6%	2.98%	-2.0%
NVS	Buy	NOVARTIS AG ADR	$7,818,000	+12.4%	101,921	+3.6%	2.91%	-1.8%
PG	Buy	PROCTER & GAMBLE	$7,487,000	+3.7%	99,042	+5.6%	2.79%	-9.4%
JNJ	Buy	JOHNSON & JOHNSON	$7,419,000	+5.9%	85,577	+4.9%	2.77%	-7.4%
CNI	Buy	CANADIAN NATL RAILWAY	$7,052,000	+4.4%	69,571	+0.2%	2.63%	-8.7%
NSRGY	Buy	NESTLE SA ADR	$6,884,000	+6.4%	98,905	+0.6%	2.57%	-7.0%
CVX	Buy	CHEVRON	$6,834,000	+4.8%	56,243	+2.0%	2.55%	-8.4%
PEP	Buy	PEPSICO	$6,775,000	+2.6%	85,219	+5.5%	2.53%	-10.3%
EMR	Buy	EMERSON ELECTRIC	$6,528,000	+19.6%	100,892	+0.8%	2.43%	+4.6%
MMM	Buy	3M	$6,186,000	+12.9%	51,807	+3.4%	2.31%	-1.3%
AAPL	Buy	APPLE INC	$6,028,000	+28.4%	12,645	+6.8%	2.25%	+12.3%
	Buy	NOVOZYMES A S DKK 2.0	$5,725,000	+19.9%	149,660	+0.3%	2.13%	+4.8%
XOM	Buy	EXXON MOBIL	$5,576,000	+3.7%	64,809	+8.9%	2.08%	-9.3%
SLB	Buy	SCHLUMBERGER	$5,352,000	+25.4%	60,575	+1.7%	2.00%	+9.6%
ATR	Buy	APTARGROUP	$5,222,000	+10.1%	86,850	+1.1%	1.95%	-3.8%
HP	Buy	HELMERICH & PAYNE	$5,197,000	+14.8%	75,366	+4.0%	1.94%	+0.4%
F113PS	Buy	COVIDIEN	$5,075,000	-0.1%	83,282	+3.0%	1.89%	-12.7%
EMC	Buy	E M C CORP MASS	$4,942,000	+8.9%	193,355	+0.6%	1.84%	-4.8%
INTC	Buy	INTEL CORP	$4,709,000	-5.3%	205,425	+0.1%	1.76%	-17.2%
JCI	Buy	JOHNSON CONTROLS INC	$4,704,000	+18.9%	113,360	+2.6%	1.75%	+4.0%
FISV	Buy	FISERV	$4,516,000	+18.9%	44,690	+2.9%	1.68%	+4.0%
UTX	Buy	UNITED TECHNOLOGIES	$4,209,000	+20.1%	39,041	+3.5%	1.57%	+5.0%
PBA	Buy	PEMBINA PIPELINE CO	$4,116,000	+9.2%	124,250	+1.0%	1.53%	-4.5%
NXPI	Sell	NXP SEMICONDUCTORS	$3,960,000	+5.1%	106,435	-12.4%	1.48%	-8.1%
LH	Buy	LABORATORY CORP AMER	$3,869,000	-0.7%	39,025	+0.3%	1.44%	-13.2%
ROK	Buy	ROCKWELL AUTOMATION	$3,831,000	+65.6%	35,827	+28.7%	1.43%	+44.7%
CSCO	Buy	CISCO SYS INC	$3,596,000	+0.7%	154,612	+5.4%	1.34%	-12.0%
ORCL	Buy	ORACLE	$3,495,000	+8.5%	105,355	+0.4%	1.30%	-5.2%
RHHBY	Buy	ROCHE HLDG LTD ADR	$3,492,000	+9.7%	51,710	+0.5%	1.30%	-4.1%
MSFT	Buy	MICROSOFT CORP	$3,322,000	+13.1%	99,813	+17.4%	1.24%	-1.2%
MON	Sell	MONSANTO	$3,301,000	-28.0%	31,626	-31.9%	1.23%	-37.0%
ILMN	Buy	ILLUMINA	$3,028,000	+9.4%	37,460	+1.2%	1.13%	-4.4%
PRGO	Buy	PERRIGO CO	$2,946,000	+3.0%	23,874	+1.0%	1.10%	-10.0%
HD	Buy	HOME DEPOT	$2,895,000	+6.4%	38,166	+8.7%	1.08%	-7.0%
GLW	Buy	CORNING INC	$2,809,000	+3.3%	192,544	+0.7%	1.05%	-9.7%
ABT	Buy	ABBOTT LABS	$2,542,000	+4.0%	76,593	+9.3%	0.95%	-9.1%
ABB	Sell	ABB LTD SPON ADR	$2,315,000	+8.7%	98,115	-0.2%	0.86%	-5.0%
TDC	Buy	TERADATA	$2,247,000	+42.8%	40,528	+29.3%	0.84%	+24.9%
QCOM	Buy	QUALCOMM	$2,049,000	+331.4%	30,440	+291.3%	0.76%	+276.4%
KO	Sell	COCA COLA	$1,762,000	-8.8%	46,514	-3.5%	0.66%	-20.3%
IPGP	Buy	IPG PHOTONICS CORPORATION	$1,534,000	+86.4%	27,215	+100.9%	0.57%	+63.0%
CB	Buy	CHUBB CORPORATION	$1,502,000	+10.4%	16,829	+4.8%	0.56%	-3.4%
XLNX	Buy	XILINX	$1,480,000	+4011.1%	31,580	+3408.9%	0.55%	+3580.0%
TGT	Buy	TARGET CORP	$1,288,000	+847.1%	20,136	+921.6%	0.48%	+727.6%
CYN	New	CITY NATIONAL	$1,256,000	–	18,835	–	0.47%	–
DVY	New	ISHARES DOW JONES SELECT DIVID	$1,032,000	–	15,550	–	0.38%	–
ETP	Buy	ENERGY TRANSFER PTNRS LP	$880,000	+87.2%	16,903	+81.7%	0.33%	+64.0%
PAA	Buy	PLAINS ALL AMERN PIPL LP	$862,000	+0.8%	16,365	+6.8%	0.32%	-12.1%
EPD	Buy	ENTERPRISE PRODUCTS PTNR	$801,000	+12.7%	13,127	+14.7%	0.30%	-1.3%
CL	Buy	COLGATE-PALMOLIVE	$734,000	+77.3%	12,372	+71.3%	0.27%	+54.8%
MWE	Buy	MARKWEST ENERGY PARTNERS LP	$693,000	+11.6%	9,600	+3.4%	0.26%	-2.6%
CICHY	Buy	CHINA CONSTRUCT UNSPN AD	$583,000	+38.8%	38,000	+27.0%	0.22%	+21.2%
EEP	Buy	ENBRIDGE ENERGY PARTNERSL.P.	$526,000	+1.3%	17,279	+1.6%	0.20%	-11.3%
	New	MATTHEWS PACIFIC TIGERequity mutual fu	$508,000	–	20,670	–	0.19%	–
ITW	Buy	ILLINOIS TOOL WORKS	$469,000	+12.5%	6,148	+2.1%	0.18%	-1.7%
SBRCY	Buy	SBERBANK RUSSIA	$468,000	+11.4%	38,876	+6.4%	0.17%	-2.8%
FEZ	New	SPDR EURO STOXX 50 ETF	$453,000	–	11,790	–	0.17%	–
ABBV	Buy	ABBVIE INC	$454,000	+43.7%	10,148	+32.7%	0.17%	+25.2%
T	Buy	AT& T INC	$446,000	+214.1%	13,174	+228.2%	0.17%	+172.1%
GSK	Buy	GLAXOSMITHKLINE PLC ADR	$440,000	+27.5%	8,770	+27.2%	0.16%	+11.6%
DBA	New	POWERSHARES DB AGRICULTURE FUN	$407,000	–	16,100	–	0.15%	–
AFL	Buy	AFLAC INC	$378,000	+9.6%	6,099	+2.9%	0.14%	-4.1%
DBO	New	POWERSHARES DB OIL FUND	$365,000	–	13,300	–	0.14%	–
	New	DODGE & COX STOCK FUNDequity mutual fu	$351,000	–	2,310	–	0.13%	–
	Sell	FPA CRESCENT FUNDequity mutual fu	$350,000	-2.5%	10,891	-5.7%	0.13%	-15.0%
PFE	Buy	PFIZER	$342,000	+850.0%	11,894	+814.9%	0.13%	+746.7%
MCD	Buy	MCDONALDS CORP	$331,000	+1224.0%	3,436	+1274.4%	0.12%	+1018.2%
BIDU	Sell	BAIDU ADR REP ONE CL A ORD	$325,000	-2.4%	2,096	-40.4%	0.12%	-14.8%
	New	T ROWE PRICE GROWTH STOCKequity mutual fu	$298,000	–	6,341	–	0.11%	–
TEVA	Sell	TEVA PHARMACEUTICAL	$293,000	-89.3%	7,749	-88.9%	0.11%	-90.6%
PPERY	Buy	BANK MANDIRI TBK-UNSPON ADR	$287,000	+12.5%	41,822	+46.9%	0.11%	-1.8%
OGZPY	Buy	OAO GAZPROM SPON ADR	$285,000	+77.0%	32,343	+32.3%	0.11%	+53.6%
FDS	Buy	FACTSET RESH SYS	$284,000	+9.2%	2,605	+2.2%	0.11%	-4.5%
	New	VANGUARD INDEX TRUST SMALL CAPequity mutual fu	$267,000	–	5,445	–	0.10%	–
GIS	Buy	GENERAL MILLS	$268,000	+6.8%	5,602	+8.3%	0.10%	-6.5%
GE	Buy	GENERAL ELECTRIC	$257,000	+112.4%	10,749	+106.7%	0.10%	+84.6%
	New	VANGUARD GROWTH INDEX FUNDequity mutual fu	$246,000	–	6,102	–	0.09%	–
VZ	Buy	VERIZON COMM	$244,000	+141.6%	5,228	+160.1%	0.09%	+111.6%
BRKB	Buy	BERKSHIRE HATHAWAY INC CL B	$244,000	+293.5%	2,150	+290.9%	0.09%	+250.0%
SPY	New	S P D R TRUST SER 1	$242,000	–	1,441	–	0.09%	–
IHLDY	New	IMPERIAL HOLDINGS AD	$238,000	–	10,921	–	0.09%	–
CEO	New	CNOOC LTD ADR	$237,000	–	1,176	–	0.09%	–
GPC	New	GENUINE PARTS	$235,000	–	2,900	–	0.09%	–
APD	Buy	AIR PRODUCTS & CHEM	$222,000	+318.9%	2,079	+259.1%	0.08%	+260.9%
WLWHY	New	WOOLWORTHS HLDGS S ADR	$221,000	–	3,003	–	0.08%	–
RDSA	New	ROYAL DUTCH SHELL PLC SPONS	$207,000	–	3,151	–	0.08%	–
	New	EATON VANCE TAX MGD EMERGING Mequity mutual fu	$203,000	–	4,196	–	0.08%	–
AZN	New	ASTRAZENECA PLC SPND ADR	$201,000	–	3,861	–	0.08%	–
IBM	Buy	INTL BUSINESS MACH	$196,000	+55.6%	1,056	+60.0%	0.07%	+35.2%
VALEP	Sell	VALE SA PFD SHS ADR	$185,000	-20.3%	13,027	-31.8%	0.07%	-30.3%
JPM	Buy	JPMORGAN CHASE	$173,000	+174.6%	3,354	+179.5%	0.06%	+137.0%
SBS	Buy	COMPANHIA D SNMNTO BSCO D ESTD	$173,000	+25.4%	17,353	+31.0%	0.06%	+8.5%
SYY	Buy	SYSCO	$150,000	+114.3%	4,700	+127.8%	0.06%	+86.7%
PTAIY	New	PT ASTRA INTL ADR	$146,000	–	12,912	–	0.05%	–
VDMCY	New	VODACOM GROUP LTD. SPONSORED A	$135,000	–	10,885	–	0.05%	–
AXS	Sell	AXIS CAPITAL HOLDINGS LTD	$104,000	-26.8%	2,400	-22.5%	0.04%	-36.1%
WMT	Buy	WAL-MART STORES	$83,000	+36.1%	1,129	+36.8%	0.03%	+19.2%
DIS	New	DISNEY	$77,000	–	1,200	–	0.03%	–
MDT	New	MEDTRONIC	$72,000	–	1,350	–	0.03%	–
TIF	New	TIFFANY & CO	$67,000	–	875	–	0.02%	–
MRO	Buy	MARATHON OIL	$67,000	+139.3%	1,922	+140.9%	0.02%	+108.3%
USB	New	US BANCORP	$56,000	–	1,538	–	0.02%	–
STT	Buy	STATE STREET	$54,000	+28.6%	815	+25.4%	0.02%	+11.1%
AGN	New	ALLERGAN INC	$50,000	–	557	–	0.02%	–
NEE	Sell	NEXTERA ENERGY	$48,000	-17.2%	600	-15.6%	0.02%	-28.0%
NKE	New	NIKE INC CLASS B	$20,000	–	276	–	0.01%	–
	New	BOLLORE RIGHTS EXPIRE 09/27201	$0	–	12,000	–	0.00%	–
VDCMY	Exit	VODACOM GROUP UNLIMITED ADR	$0	–	-10,885	–	-0.05%	–
SRHGY	Exit	SHOPRITE HOLDINGS LTD (SHP)	$0	–	-5,646	–	-0.09%	–

Q2 2013

			Value		Shares		↓ Weighting
CVS	New	CVS CAREMARK	$8,453,000	–	147,830	–	3.60%	–
MA	New	MASTERCARD	$7,468,000	–	12,999	–	3.18%	–
PG	New	PROCTER & GAMBLE	$7,221,000	–	93,796	–	3.08%	–
ADP	New	AUTOMATIC DATA PROCESSING	$7,141,000	–	103,705	–	3.04%	–
JNJ	New	JOHNSON & JOHNSON	$7,005,000	–	81,586	–	2.99%	–
NVS	New	NOVARTIS AG ADR	$6,956,000	–	98,373	–	2.97%	–
CNI	New	CANADIAN NATL RAILWAY	$6,752,000	–	69,420	–	2.88%	–
PEP	New	PEPSICO	$6,605,000	–	80,760	–	2.82%	–
CVX	New	CHEVRON CORP NEW	$6,523,000	–	55,125	–	2.78%	–
NSRGY	New	NESTLE SA ADR	$6,468,000	–	98,325	–	2.76%	–
MMM	New	3M	$5,479,000	–	50,108	–	2.34%	–
EMR	New	EMERSON ELECTRIC	$5,459,000	–	100,085	–	2.33%	–
XOM	New	EXXON MOBIL	$5,378,000	–	59,520	–	2.29%	–
F113PS	New	COVIDIEN	$5,080,000	–	80,845	–	2.17%	–
	New	BOLLORE	$4,996,000	–	12,000	–	2.13%	–
INTC	New	INTEL CORP	$4,972,000	–	205,215	–	2.12%	–
	New	NOVOZYMES A S DKK 2.0	$4,775,000	–	149,200	–	2.04%	–
ATR	New	APTARGROUP	$4,745,000	–	85,940	–	2.02%	–
AAPL	New	APPLE INC	$4,693,000	–	11,835	–	2.00%	–
MON	New	MONSANTO	$4,585,000	–	46,410	–	1.96%	–
EMC	New	E M C CORP MASS	$4,538,000	–	192,125	–	1.94%	–
HP	New	HELMERICH & PAYNE	$4,526,000	–	72,477	–	1.93%	–
SLB	New	SCHLUMBERGER	$4,267,000	–	59,540	–	1.82%	–
JCI	New	JOHNSON CONTROLS INC	$3,955,000	–	110,510	–	1.69%	–
LH	New	LABORATORY CORP AMER	$3,895,000	–	38,915	–	1.66%	–
FISV	New	FISERV	$3,797,000	–	43,435	–	1.62%	–
PBA	New	PEMBINA PIPELINE CO	$3,768,000	–	123,050	–	1.61%	–
NXPI	New	NXP SEMICONDUCTORS	$3,767,000	–	121,435	–	1.61%	–
RJI	New	ELEMENTS - ROGERS TR	$3,751,000	–	470,610	–	1.60%	–
CSCO	New	CISCO SYS INC	$3,571,000	–	146,712	–	1.52%	–
UTX	New	UNITED TECHNOLOGIES	$3,504,000	–	37,704	–	1.49%	–
SJM	New	SMUCKER J M	$3,359,000	–	32,568	–	1.43%	–
ORCL	New	ORACLE	$3,222,000	–	104,905	–	1.37%	–
RHHBY	New	ROCHE HLDG LTD ADR	$3,183,000	–	51,450	–	1.36%	–
MSFT	New	MICROSOFT CORP	$2,938,000	–	85,054	–	1.25%	–
PRGO	New	PERRIGO CO	$2,860,000	–	23,640	–	1.22%	–
ILMN	New	ILLUMINA	$2,769,000	–	37,000	–	1.18%	–
TEVA	New	TEVA PHARMACEUTICAL	$2,729,000	–	69,628	–	1.16%	–
HD	New	HOME DEPOT	$2,720,000	–	35,110	–	1.16%	–
GLW	New	CORNING INC	$2,720,000	–	191,160	–	1.16%	–
MRK	New	MERCK	$2,648,000	–	57,000	–	1.13%	–
ABT	New	ABBOTT LABS	$2,445,000	–	70,098	–	1.04%	–
ROK	New	ROCKWELL AUTOMATION	$2,314,000	–	27,835	–	0.99%	–
ABB	New	ABB LTD SPON ADR	$2,130,000	–	98,315	–	0.91%	–
KO	New	COCA COLA	$1,932,000	–	48,180	–	0.82%	–
UNP	New	UNION PACIFIC	$1,851,000	–	12,000	–	0.79%	–
	New	PERMANENT PORTFOLIOequity mutual fu	$1,657,000	–	36,883	–	0.71%	–
TDC	New	TERADATA	$1,574,000	–	31,335	–	0.67%	–
CB	New	CHUBB CORPORATION	$1,360,000	–	16,064	–	0.58%	–
APC	New	ANADARKO PETE	$1,289,000	–	15,000	–	0.55%	–
RJA	New	ELEMENTS ROGERS AGRIC TRSV=123	$1,171,000	–	141,120	–	0.50%	–
ALNY	New	ALNYLAM PHARMA	$930,000	–	30,000	–	0.40%	–
PAA	New	PLAINS ALL AMERN PIPL LP	$855,000	–	15,320	–	0.36%	–
IPGP	New	IPG PHOTONICS CORPORATION	$823,000	–	13,545	–	0.35%	–
DBC	New	POWERSHARES DB COMMODITY IND	$810,000	–	32,235	–	0.34%	–
EPD	New	ENTERPRISE PRODUCTS PTNR	$711,000	–	11,440	–	0.30%	–
SHW	New	SHERWIN WILLIAMS	$671,000	–	3,800	–	0.29%	–
MWE	New	MARKWEST ENERGY PARTNERS LP	$621,000	–	9,285	–	0.26%	–
AZO	New	AUTO ZONE	$551,000	–	1,300	–	0.24%	–
EEP	New	ENBRIDGE ENERGY PARTNERSL.P.	$519,000	–	17,010	–	0.22%	–
QCOM	New	QUALCOMM	$475,000	–	7,780	–	0.20%	–
ETP	New	ENERGY TRANSFER PTNRS LP	$470,000	–	9,305	–	0.20%	–
DCI	New	DONALDSON INC	$456,000	–	12,800	–	0.19%	–
TSM	New	TAIWAN S MANUFCTRING ADR	$446,000	–	24,363	–	0.19%	–
SBRCY	New	SBERBANK RUSSIA	$420,000	–	36,552	–	0.18%	–
KCDMY	New	KIMBERLY CLARK DE MX SABDE CV	$419,000	–	26,067	–	0.18%	–
CICHY	New	CHINA CONSTRUCT UNSPN AD	$420,000	–	29,911	–	0.18%	–
ITW	New	ILLINOIS TOOL WORKS	$417,000	–	6,023	–	0.18%	–
CL	New	COLGATE-PALMOLIVE	$414,000	–	7,222	–	0.18%	–
BDORY	New	BANCO DO BRASIL SA-SPON	$385,000	–	38,137	–	0.16%	–
MBT	New	MOBILE TELESYS OJSC ADR	$366,000	–	19,323	–	0.16%	–
	New	FPA CRESCENT FUNDequity mutual fu	$359,000	–	11,547	–	0.15%	–
AFL	New	AFLAC INC	$345,000	–	5,929	–	0.15%	–
GSK	New	GLAXOSMITHKLINE PLC ADR	$345,000	–	6,895	–	0.15%	–
KHOLY	New	KOC HLDG AS-UNSPON	$339,000	–	14,269	–	0.14%	–
CIOXY	New	CIELO SA	$340,000	–	13,417	–	0.14%	–
TLK	New	TELEKOMUNIKASI INDONESIASP ADR	$332,000	–	7,767	–	0.14%	–
BIDU	New	BAIDU ADR REP ONE CL A ORD	$333,000	–	3,519	–	0.14%	–
CHL	New	CHINA MOBILE LTD SPN ADR	$323,000	–	6,234	–	0.14%	–
ABBV	New	ABBVIE INC	$316,000	–	7,648	–	0.14%	–
TD	New	TORONTO DOMINION BANK	$311,000	–	3,874	–	0.13%	–
PALL	New	ETFS PHYSICAL PALLADIUM SHARES	$299,000	–	4,623	–	0.13%	–
SHG	New	SHINHAN FINL GRP SP ADR	$286,000	–	8,798	–	0.12%	–
PHI	New	PHILIPINE LONG DIST TEL	$283,000	–	4,168	–	0.12%	–
DHR	New	DANAHER CORP DEL	$279,000	–	4,400	–	0.12%	–
SLLDY	New	SANLAM LTD SP ADR	$275,000	–	11,950	–	0.12%	–
FDS	New	FACTSET RESH SYS	$260,000	–	2,550	–	0.11%	–
SLV	New	ISHARES SILVER TR	$257,000	–	13,544	–	0.11%	–
NTES	New	NETEASE.COM INC ADR	$256,000	–	4,059	–	0.11%	–
PPERY	New	BANK MANDIRI TBK-UNSPON ADR	$255,000	–	28,461	–	0.11%	–
KB	New	KB FINANCIAL GROUP INC	$255,000	–	8,614	–	0.11%	–
GIS	New	GENERAL MILLS	$251,000	–	5,171	–	0.11%	–
PPLT	New	ETFS PHYSICAL PLATINUM SHARES	$247,000	–	1,888	–	0.10%	–
BDVSY	New	BIDVEST GROUP LTD SP	$241,000	–	4,864	–	0.10%	–
NDBKY	New	NEDBANK GROUP LTD ADR	$231,000	–	12,975	–	0.10%	–
VALEP	New	VALE SA PFD SHS ADR	$232,000	–	19,092	–	0.10%	–
CLCGY	New	CLICKS GROUP LTD SPONSORED ADR	$227,000	–	19,874	–	0.10%	–
ABV	New	COMPANHIA DE BEBIDAS DAS	$222,000	–	5,944	–	0.10%	–
ORFLY	New	ORIFLAME COSMETICS	$223,000	–	14,041	–	0.10%	–
WYNMY	New	WYNN MACAU	$221,000	–	8,080	–	0.09%	–
BBBY	New	BED BATH & BEYOND	$213,000	–	3,000	–	0.09%	–
TKC	New	TURKCELL ILETISIM ADR	$214,000	–	14,916	–	0.09%	–
SRHGY	New	SHOPRITE HOLDINGS LTD (SHP)	$210,000	–	5,646	–	0.09%	–
CMCSA	New	COMCAST CORP NEW CL A	$209,000	–	5,008	–	0.09%	–
SGBLY	New	STD BK GRP LTD S ADR	$173,000	–	15,358	–	0.07%	–
YPF	New	YPF SA	$167,000	–	11,343	–	0.07%	–
AKBTY	New	AKBANK TURK SPON ADR REGANONIM	$167,000	–	20,447	–	0.07%	–
OGZPY	New	OAO GAZPROM SPON ADR	$161,000	–	24,439	–	0.07%	–
WEICY	New	WIECHAI POWER ADR	$157,000	–	13,304	–	0.07%	–
T	New	AT& T INC	$142,000	–	4,014	–	0.06%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$142,000	–	3,096	–	0.06%	–
SBS	New	COMPANHIA D SNMNTO BSCO D ESTD	$138,000	–	13,248	–	0.06%	–
KDDIY	New	KDDI CP UNSP ADR	$137,000	–	10,585	–	0.06%	–
DBOEY	New	DEUTSCHE BOERSE AG	$136,000	–	20,636	–	0.06%	–
TGT	New	TARGET CORP	$136,000	–	1,971	–	0.06%	–
CIBEY	New	COML INL BK SP ADR	$134,000	–	32,903	–	0.06%	–
PEXNY	New	PTT EXPLORATION & PRODUCTION P	$133,000	–	12,758	–	0.06%	–
IBM	New	INTL BUSINESS MACH	$126,000	–	660	–	0.05%	–
GE	New	GENERAL ELECTRIC	$121,000	–	5,200	–	0.05%	–
PPCYY	New	PPC LTD	$119,000	–	20,132	–	0.05%	–
VDCMY	New	VODACOM GROUP UNLIMITED ADR	$115,000	–	10,885	–	0.05%	–
MFG	New	MIZUHO FINL GROUP	$107,000	–	26,017	–	0.05%	–
VZ	New	VERIZON COMM	$101,000	–	2,010	–	0.04%	–
AUY	New	YAMANA GOLD INC	$101,000	–	10,621	–	0.04%	–
SYY	New	SYSCO	$70,000	–	2,063	–	0.03%	–
JPM	New	JPMORGAN CHASE	$63,000	–	1,200	–	0.03%	–
SGAMY	New	SEGA SAMMY HOLDINGS INC ADR	$63,000	–	10,063	–	0.03%	–
BRKB	New	BERKSHIRE HATHAWAY INC CL B	$62,000	–	550	–	0.03%	–
WMT	New	WAL-MART STORES	$61,000	–	825	–	0.03%	–
NEE	New	NEXTERA ENERGY	$58,000	–	711	–	0.02%	–
APD	New	AIR PRODUCTS & CHEM	$53,000	–	579	–	0.02%	–
STT	New	STATE STREET	$42,000	–	650	–	0.02%	–
XLNX	New	XILINX	$36,000	–	900	–	0.02%	–
PFE	New	PFIZER	$36,000	–	1,300	–	0.02%	–
MRO	New	MARATHON OIL	$28,000	–	798	–	0.01%	–
MCD	New	MCDONALDS CORP	$25,000	–	250	–	0.01%	–
WFC	New	WELLS FARGO	$24,000	–	589	–	0.01%	–
AMZN	New	AMAZON.COM	$21,000	–	75	–	0.01%	–
FITB	New	FIFTH THIRD BANCORP	$6,000	–	319	–	0.00%	–
UPS	New	UNITED PARCEL SVC CL B	$7,000	–	79	–	0.00%	–

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