Martin Investment Management, LLC Activity Q4 2010-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
NVO	Buy	NOVO-NORDISK A Sadr	$26,469,724	+9.5%	291,068	+94.8%	7.93%	+16.3%
NVS	Sell	NOVARTIS AGsponsored adr	$23,344,682	-3.0%	229,184	-3.9%	7.00%	+3.1%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$21,398,904	+2.0%	160,556	-3.9%	6.41%	+8.4%
TM	Buy	TOYOTA MOTOR CORPads	$20,978,623	+17.5%	116,710	+5.1%	6.29%	+24.9%
AAPL	Sell	APPLE INC	$20,545,073	-15.1%	119,999	-3.8%	6.16%	-9.8%
ALC	Sell	ALCON AG	$19,916,311	-9.9%	258,452	-4.0%	5.97%	-4.2%
MA	Sell	MASTERCARD INCORPORATEDcl a	$17,645,377	-3.3%	44,569	-3.9%	5.29%	+2.8%
SONY	Sell	SONY GROUP CORPsponsored adr	$16,931,547	-12.9%	205,455	-4.8%	5.07%	-7.4%
GOOGL	Sell	ALPHABET INCcap stk cl a	$12,125,880	+5.2%	92,663	-3.7%	3.63%	+11.8%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$10,604,982	-1.4%	30,274	-4.0%	3.18%	+4.7%
BKNG	Sell	BOOKING HOLDINGS INC	$10,021,604	+9.9%	3,250	-3.7%	3.00%	+16.8%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$9,733,649	-7.1%	19,230	-4.3%	2.92%	-1.3%
ACN	Sell	ACCENTURE PLC IRELAND	$8,119,067	-4.8%	26,437	-4.3%	2.43%	+1.2%
VRSK	Sell	VERISK ANALYTICS INC	$8,034,050	-9.7%	34,008	-13.6%	2.41%	-4.1%
AXP	Sell	AMERICAN EXPRESS CO	$7,444,283	-18.0%	49,898	-4.2%	2.23%	-12.8%
NXPI	Sell	NXP SEMICONDUCTORS N V	$7,109,355	-3.9%	35,561	-1.7%	2.13%	+2.1%
GD	Buy	GENERAL DYNAMICS CORP	$6,934,260	+8.6%	31,381	+5.7%	2.08%	+15.4%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$6,883,486	-13.2%	118,599	-4.4%	2.06%	-7.8%
PG	Sell	PROCTER AND GAMBLE CO	$6,833,103	-8.1%	46,847	-4.4%	2.05%	-2.3%
JNJ	Sell	JOHNSON & JOHNSON	$6,779,068	-10.0%	43,525	-4.4%	2.03%	-4.4%
MRO	Sell	MARATHON OIL CORP	$6,658,824	+14.0%	248,928	-1.9%	2.00%	+21.1%
VRSN	Buy	VERISIGN INC	$6,631,642	-6.5%	32,744	+4.3%	1.99%	-0.7%
ROP	Sell	ROPER TECHNOLOGIES INC	$6,459,327	-4.1%	13,338	-4.8%	1.94%	+1.9%
SYK	Sell	STRYKER CORPORATION	$6,461,742	-14.8%	23,646	-4.9%	1.94%	-9.5%
LHX	Buy	L3HARRIS TECHNOLOGIES INC	$6,278,817	-9.2%	36,060	+2.1%	1.88%	-3.5%
CARR	Sell	CARRIER GLOBAL CORPORATION	$6,113,234	-4.8%	110,747	-14.3%	1.83%	+1.2%
MRK	Sell	MERCK & CO INC	$5,019,430	-12.1%	48,756	-1.5%	1.50%	-6.6%
HP	Sell	HELMERICH & PAYNE INC	$4,863,662	+13.2%	115,362	-4.8%	1.46%	+20.3%
RTX	Sell	RTX CORPORATION	$3,584,682	-30.3%	49,808	-5.2%	1.07%	-26.0%
FMC	Sell	FMC CORP	$3,463,688	-38.9%	51,720	-4.8%	1.04%	-35.0%
BP	Sell	BP PLCsponsored adr	$1,298,669	+6.9%	33,540	-2.6%	0.39%	+13.4%
MDT	Sell	MEDTRONIC PLC	$1,006,142	-12.5%	12,840	-1.6%	0.30%	-6.8%
	Buy	GSK PLCsponsored adr	$932,640	+79.5%	25,728	+76.5%	0.28%	+89.8%
AON	Sell	AON PLC	$730,143	-7.0%	2,252	-1.0%	0.22%	-0.9%
ASML	Buy	ASML HOLDING N V	$684,612	-1.4%	1,163	+21.4%	0.20%	+4.6%
GOOG	Sell	ALPHABET INCcap stk cl c	$655,169	+7.7%	4,969	-1.2%	0.20%	+14.0%
MSFT	Sell	MICROSOFT CORP	$586,348	-27.7%	1,857	-22.1%	0.18%	-23.1%
PXD	Sell	PIONEER NAT RES CO	$555,511	+8.8%	2,420	-1.8%	0.17%	+15.3%
AMZN	Sell	AMAZON COM INC	$454,962	-3.2%	3,579	-0.7%	0.14%	+2.3%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$415,469	-75.0%	4,781	-70.9%	0.12%	-73.3%
V	Sell	VISA INC	$322,014	-4.2%	1,400	-1.1%	0.10%	+1.1%
RELX	Sell	RELX PLCsponsored adr	$283,417	-2.3%	8,410	-3.1%	0.08%	+3.7%
TTE	Buy	TOTALENERGIES SEsponsored ads	$248,244	+23.2%	3,775	+8.0%	0.07%	+29.8%
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATIcl a	$0	–	-705	–	-0.06%	–
MSCI	Exit	MSCI INC	$0	–	-523	–	-0.07%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-1,661	–	-0.08%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-12,417	–	-1.40%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$24,199,942	–	124,761	–	6.82%	–
NVO	New	NOVO-NORDISK A Sadr	$24,177,078	–	149,398	–	6.82%	–
NVS	New	NOVARTIS AGsponsored adr	$24,067,943	–	238,509	–	6.79%	–
ALC	New	ALCON AG	$22,097,361	–	269,119	–	6.23%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$20,976,781	–	166,986	–	5.92%	–
SONY	New	SONY GROUP CORPORATIONsponsored adr	$19,434,954	–	215,848	–	5.48%	–
MA	New	MASTERCARD INCORPORATEDcl a	$18,248,790	–	46,399	–	5.15%	–
TM	New	TOYOTA MOTOR CORPads	$17,850,484	–	111,045	–	5.03%	–
GOOGL	New	ALPHABET INCcap stk cl a	$11,521,364	–	96,252	–	3.25%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$10,758,550	–	31,550	–	3.03%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$10,480,392	–	20,087	–	2.96%	–
BKNG	New	BOOKING HOLDINGS INC	$9,116,854	–	3,376	–	2.57%	–
AXP	New	AMERICAN EXPRESS CO	$9,073,555	–	52,087	–	2.56%	–
VRSK	New	VERISK ANALYTICS INC	$8,900,383	–	39,377	–	2.51%	–
ACN	New	ACCENTURE PLC IRELAND	$8,527,300	–	27,634	–	2.40%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$7,933,189	–	124,053	–	2.24%	–
SYK	New	STRYKER CORPORATION	$7,586,673	–	24,867	–	2.14%	–
JNJ	New	JOHNSON & JOHNSON	$7,533,033	–	45,511	–	2.12%	–
PG	New	PROCTER AND GAMBLE CO	$7,432,984	–	48,985	–	2.10%	–
NXPI	New	NXP SEMICONDUCTORS N V	$7,401,638	–	36,162	–	2.09%	–
VRSN	New	VERISIGN INC	$7,095,232	–	31,399	–	2.00%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$6,913,674	–	35,315	–	1.95%	–
ROP	New	ROPER TECHNOLOGIES INC	$6,736,970	–	14,012	–	1.90%	–
CARR	New	CARRIER GLOBAL CORPORATION	$6,423,278	–	129,215	–	1.81%	–
GD	New	GENERAL DYNAMICS CORP	$6,386,943	–	29,686	–	1.80%	–
MRO	New	MARATHON OIL CORP	$5,843,144	–	253,829	–	1.65%	–
MRK	New	MERCK & CO INC	$5,709,959	–	49,484	–	1.61%	–
FMC	New	FMC CORP	$5,665,871	–	54,302	–	1.60%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$5,146,525	–	52,537	–	1.45%	–
SPGI	New	S&P GLOBAL INC	$4,977,851	–	12,417	–	1.40%	–
HP	New	HELMERICH & PAYNE INC	$4,296,895	–	121,210	–	1.21%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$1,660,740	–	16,456	–	0.47%	–
BP	New	BP PLCsponsored adr	$1,215,388	–	34,440	–	0.34%	–
MDT	New	MEDTRONIC PLC	$1,149,265	–	13,045	–	0.32%	–
MSFT	New	MICROSOFT CORP	$811,507	–	2,383	–	0.23%	–
AON	New	AON PLC	$784,985	–	2,274	–	0.22%	–
ASML	New	ASML HOLDING N V	$694,311	–	958	–	0.20%	–
LNG	New	CHENIERE ENERGY INC	$612,487	–	4,020	–	0.17%	–
GOOG	New	ALPHABET INCcap stk cl c	$608,364	–	5,029	–	0.17%	–
	New	GSK PLCsponsored adr	$519,631	–	14,580	–	0.15%	–
PXD	New	PIONEER NAT RES CO	$510,699	–	2,465	–	0.14%	–
NVDA	New	NVIDIA CORPORATION	$490,703	–	1,160	–	0.14%	–
AMZN	New	AMAZON COM INC	$469,948	–	3,605	–	0.13%	–
KMB	New	KIMBERLY-CLARK CORP	$422,464	–	3,060	–	0.12%	–
V	New	VISA INC	$336,272	–	1,416	–	0.10%	–
COST	New	COSTCO WHSL CORP NEW	$327,335	–	608	–	0.09%	–
TXN	New	TEXAS INSTRS INC	$299,013	–	1,661	–	0.08%	–
RELX	New	RELX PLCsponsored adr	$290,005	–	8,675	–	0.08%	–
MSCI	New	MSCI INC	$245,439	–	523	–	0.07%	–
FDS	New	FACTSET RESH SYS INC	$230,374	–	575	–	0.06%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$208,560	–	705	–	0.06%	–
TTE	New	TOTALENERGIES SEsponsored ads	$201,452	–	3,495	–	0.06%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	HALEON PLCspon ads	$0	–	-23,675	–	-0.05%	–
RELX	Exit	RELX PLCsponsored adr	$0	–	-8,675	–	-0.07%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-575	–	-0.08%	–
TGT	Exit	TARGET CORP	$0	–	-1,635	–	-0.08%	–
V	Exit	VISA INC	$0	–	-1,416	–	-0.09%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-1,661	–	-0.09%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-640	–	-0.11%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-3,060	–	-0.12%	–
AON	Exit	AON PLC	$0	–	-1,419	–	-0.13%	–
AMZN	Exit	AMAZON COM INC	$0	–	-3,991	–	-0.16%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-2,835	–	-0.16%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-5,360	–	-0.18%	–
ASML	Exit	ASML HOLDING N V	$0	–	-1,267	–	-0.18%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,381	–	-0.19%	–
	Exit	GSK PLCsponsored adr	$0	–	-18,940	–	-0.20%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-9,605	–	-0.27%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-6,091	–	-0.31%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-15,415	–	-0.37%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-49,989	–	-0.84%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-185,133	–	-1.46%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-128,598	–	-1.60%	–
VRSN	Exit	VERISIGN INC	$0	–	-26,526	–	-1.61%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-34,314	–	-1.63%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-56,956	–	-1.63%	–
FMC	Exit	FMC CORP	$0	–	-44,426	–	-1.64%	–
SYK	Exit	STRYKER CORPORATION	$0	–	-26,779	–	-1.90%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-72,986	–	-1.93%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-3,366	–	-1.94%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-29,915	–	-2.22%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-20,965	–	-2.24%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-51,692	–	-2.28%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-42,445	–	-2.53%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-44,771	–	-2.56%	–
MSCI	Exit	MSCI INC	$0	–	-17,500	–	-2.58%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-55,235	–	-2.61%	–
LHX	Exit	L3HARRIS TECHNOLOGIES INC	$0	–	-36,141	–	-2.63%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-30,618	–	-2.76%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-115,226	–	-2.87%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-88,664	–	-2.97%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-33,129	–	-3.10%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-21,614	–	-3.84%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-49,227	–	-4.90%	–
SONY	Exit	SONY GROUP CORPORATIONsponsored adr	$0	–	-225,168	–	-5.05%	–
TM	Exit	TOYOTA MOTOR CORPads	$0	–	-122,905	–	-5.60%	–
ALC	Exit	ALCON AG	$0	–	-345,547	–	-7.04%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-185,648	–	-7.28%	–
AAPL	Exit	APPLE INC	$0	–	-151,378	–	-7.32%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-322,267	–	-8.58%	–

Q3 2022

			Value		Shares		↓ Weighting
NVS	Buy	NOVARTIS AGsponsored adr	$24,496,000	-9.8%	322,267	+0.3%	8.58%	+11.7%
AAPL	Sell	APPLE INC	$20,920,000	+0.9%	151,378	-0.2%	7.32%	+24.9%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$20,796,000	-8.2%	185,648	-0.2%	7.28%	+13.7%
SONY	Sell	SONY GROUP CORPORATIONsponsored adr	$14,422,000	-39.6%	225,168	-23.0%	5.05%	-25.3%
MA	Sell	MASTERCARD INCORPORATEDcl a	$13,997,000	-10.1%	49,227	-0.2%	4.90%	+11.3%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$10,962,000	-6.8%	21,614	-0.2%	3.84%	+15.3%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$8,846,000	-2.4%	33,129	-0.2%	3.10%	+20.8%
GOOGL	Buy	ALPHABET INCcap stk cl a	$8,481,000	-12.4%	88,664	+1894.7%	2.97%	+8.4%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$8,191,000	-6.8%	115,226	+0.9%	2.87%	+15.4%
ACN	Sell	ACCENTURE PLC IRELAND	$7,878,000	-7.8%	30,618	-0.5%	2.76%	+14.2%
LHX	Sell	L3HARRIS TECHNOLOGIES INC	$7,511,000	-14.3%	36,141	-0.3%	2.63%	+6.1%
AXP	Sell	AMERICAN EXPRESS CO	$7,452,000	-2.9%	55,235	-0.2%	2.61%	+20.2%
MSCI	Sell	MSCI INC	$7,381,000	+2.2%	17,500	-0.2%	2.58%	+26.5%
JNJ	Sell	JOHNSON & JOHNSON	$7,314,000	-8.3%	44,771	-0.3%	2.56%	+13.6%
VRSK	Sell	VERISK ANALYTICS INC	$7,238,000	-3.2%	42,445	-1.8%	2.53%	+19.9%
PG	Sell	PROCTER AND GAMBLE CO	$6,526,000	-12.4%	51,692	-0.2%	2.28%	+8.5%
SPGI	Sell	S&P GLOBAL INC	$6,402,000	-9.6%	20,965	-0.3%	2.24%	+11.9%
GD	Sell	GENERAL DYNAMICS CORP	$6,347,000	-4.4%	29,915	-0.3%	2.22%	+18.4%
BKNG	Sell	BOOKING HOLDINGS INC	$5,531,000	-6.2%	3,366	-0.1%	1.94%	+16.2%
FIS	Sell	FIDELITY NATL INFORMATION SV	$5,516,000	-17.8%	72,986	-0.2%	1.93%	+1.8%
SYK	Sell	STRYKER CORPORATION	$5,424,000	+1.6%	26,779	-0.2%	1.90%	+25.8%
FMC	Sell	FMC CORP	$4,696,000	-1.3%	44,426	-0.1%	1.64%	+22.2%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$4,662,000	-15.0%	56,956	-0.2%	1.63%	+5.2%
FB	Sell	META PLATFORMS INCcl a	$4,656,000	-16.1%	34,314	-0.3%	1.63%	+3.9%
VRSN	Sell	VERISIGN INC	$4,608,000	+3.6%	26,526	-0.3%	1.61%	+28.2%
CARR	Buy	CARRIER GLOBAL CORPORATION	$4,573,000	+1.4%	128,598	+1.7%	1.60%	+25.7%
MRO	Buy	MARATHON OIL CORP	$4,180,000	+1.3%	185,133	+0.9%	1.46%	+25.4%
MTCH	Sell	MATCH GROUP INC NEW	$2,387,000	-31.6%	49,989	-0.2%	0.84%	-15.3%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$1,057,000	-17.8%	15,415	-2.0%	0.37%	+1.6%
NXPI	Sell	NXP SEMICONDUCTORS N V	$898,000	-1.4%	6,091	-1.0%	0.31%	+21.7%
MDT	Sell	MEDTRONIC PLC	$776,000	-11.6%	9,605	-1.8%	0.27%	+9.7%
	New	GSK PLCsponsored adr	$557,000	–	18,940	–	0.20%	–
ASML	Buy	ASML HOLDING N V	$526,000	-8.0%	1,267	+5.3%	0.18%	+13.6%
GOOG	Buy	ALPHABET INCcap stk cl c	$515,000	-12.1%	5,360	+1900.0%	0.18%	+8.4%
AMZN	Sell	AMAZON COM INC	$451,000	-1.7%	3,991	-7.7%	0.16%	+21.5%
AON	Sell	AON PLC	$380,000	-11.0%	1,419	-10.4%	0.13%	+9.9%
TGT	Sell	TARGET CORP	$243,000	-96.7%	1,635	-96.9%	0.08%	-95.9%
RELX	Sell	RELX PLCsponsored adr	$211,000	-99.1%	8,675	-99.0%	0.07%	-98.9%
	New	HALEON PLCspon ads	$144,000	–	23,675	–	0.05%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-1,337	–	-0.06%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATIcl a	$0	–	-705	–	-0.06%	–
IAC	Exit	IAC INTERACTIVECORP NEW	$0	–	-50,677	–	-1.09%	–

Q2 2022

			Value		Shares		↓ Weighting
NVS	New	NOVARTIS AGsponsored adr	$27,157,000	–	321,272	–	7.68%	–
ALC	New	ALCON AG	$24,150,000	–	345,547	–	6.83%	–
SONY	New	SONY GROUP CORPORATIONsponsored adr	$23,893,000	–	292,278	–	6.76%	–
RELX	New	RELX PLCsponsored adr	$22,934,000	–	848,383	–	6.48%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$22,644,000	–	185,943	–	6.40%	–
AAPL	New	APPLE INC	$20,740,000	–	151,693	–	5.86%	–
TM	New	TOYOTA MOTOR CORPads	$18,948,000	–	122,905	–	5.36%	–
MA	New	MASTERCARD INCORPORATEDcl a	$15,566,000	–	49,342	–	4.40%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$11,767,000	–	21,660	–	3.33%	–
GOOGL	New	ALPHABET INCcap stk cl a	$9,687,000	–	4,445	–	2.74%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$9,066,000	–	33,205	–	2.56%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$8,790,000	–	114,152	–	2.48%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$8,760,000	–	36,243	–	2.48%	–
ACN	New	ACCENTURE PLC IRELAND	$8,543,000	–	30,768	–	2.42%	–
JNJ	New	JOHNSON & JOHNSON	$7,972,000	–	44,908	–	2.25%	–
AXP	New	AMERICAN EXPRESS CO	$7,674,000	–	55,358	–	2.17%	–
VRSK	New	VERISK ANALYTICS INC	$7,478,000	–	43,202	–	2.11%	–
PG	New	PROCTER AND GAMBLE CO	$7,449,000	–	51,802	–	2.11%	–
TGT	New	TARGET CORP	$7,405,000	–	52,434	–	2.09%	–
MSCI	New	MSCI INC	$7,225,000	–	17,530	–	2.04%	–
SPGI	New	S&P GLOBAL INC	$7,084,000	–	21,018	–	2.00%	–
FIS	New	FIDELITY NATL INFORMATION SV	$6,707,000	–	73,164	–	1.90%	–
GD	New	GENERAL DYNAMICS CORP	$6,637,000	–	29,996	–	1.88%	–
BKNG	New	BOOKING HOLDINGS INC	$5,894,000	–	3,370	–	1.67%	–
FB	New	META PLATFORMS INCcl a	$5,549,000	–	34,410	–	1.57%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$5,485,000	–	57,066	–	1.55%	–
SYK	New	STRYKER CORPORATION	$5,339,000	–	26,840	–	1.51%	–
FMC	New	FMC CORP	$4,759,000	–	44,469	–	1.34%	–
CARR	New	CARRIER GLOBAL CORPORATION	$4,508,000	–	126,412	–	1.27%	–
VRSN	New	VERISIGN INC	$4,450,000	–	26,597	–	1.26%	–
MRO	New	MARATHON OIL CORP	$4,127,000	–	183,564	–	1.17%	–
IAC	New	IAC INTERACTIVECORP NEW	$3,850,000	–	50,677	–	1.09%	–
MTCH	New	MATCH GROUP INC NEW	$3,490,000	–	50,086	–	0.99%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$1,286,000	–	15,735	–	0.36%	–
NXPI	New	NXP SEMICONDUCTORS N V	$911,000	–	6,151	–	0.26%	–
MDT	New	MEDTRONIC PLC	$878,000	–	9,785	–	0.25%	–
MSFT	New	MICROSOFT CORP	$612,000	–	2,381	–	0.17%	–
GOOG	New	ALPHABET INCcap stk cl c	$586,000	–	268	–	0.17%	–
ASML	New	ASML HOLDING N V	$572,000	–	1,203	–	0.16%	–
AMZN	New	AMAZON COM INC	$459,000	–	4,326	–	0.13%	–
AON	New	AON PLC	$427,000	–	1,584	–	0.12%	–
KMB	New	KIMBERLY-CLARK CORP	$414,000	–	3,060	–	0.12%	–
LNG	New	CHENIERE ENERGY INC	$377,000	–	2,835	–	0.11%	–
COST	New	COSTCO WHSL CORP NEW	$307,000	–	640	–	0.09%	–
V	New	VISA INC	$279,000	–	1,416	–	0.08%	–
TXN	New	TEXAS INSTRS INC	$255,000	–	1,661	–	0.07%	–
FDS	New	FACTSET RESH SYS INC	$221,000	–	575	–	0.06%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$207,000	–	705	–	0.06%	–
NVDA	New	NVIDIA CORPORATION	$203,000	–	1,337	–	0.06%	–

Q4 2021

			Value		Shares		↓ Weighting
ICLR	Exit	ICON PLC	$0	–	-787	–	-0.05%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-575	–	-0.06%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-1,320	–	-0.07%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-640	–	-0.07%	–
V	Exit	VISA INC	$0	–	-1,441	–	-0.08%	–
RELX	Exit	RELX PLCsponsored adr	$0	–	-11,297	–	-0.08%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATIcl a	$0	–	-705	–	-0.09%	–
ST	Exit	SENSATA TECHNOLOGIES HLDG PL	$0	–	-6,905	–	-0.10%	–
UL	Exit	UNILEVER PLCspon adr new	$0	–	-7,312	–	-0.10%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-3,075	–	-0.10%	–
CERN	Exit	CERNER CORP	$0	–	-6,873	–	-0.12%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,229	–	-0.15%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,381	–	-0.17%	–
AMZN	Exit	AMAZON COM INC	$0	–	-210	–	-0.17%	–
ASML	Exit	ASML HOLDING N V	$0	–	-1,041	–	-0.20%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-4,130	–	-0.20%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-8,640	–	-0.25%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-5,952	–	-0.29%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-10,690	–	-0.30%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-12,475	–	-0.39%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-656	–	-0.44%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-58,203	–	-1.26%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-63,511	–	-1.32%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-27,042	–	-1.34%	–
VRSN	Exit	VERISIGN INC	$0	–	-26,130	–	-1.35%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-71,320	–	-1.39%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-85,774	–	-1.51%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-38,270	–	-1.56%	–
IAC	Exit	IAC INTERACTIVECORP NEW	$0	–	-50,096	–	-1.65%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-16,646	–	-1.78%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-136,757	–	-1.78%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-120,385	–	-1.80%	–
SYK	Exit	STRYKER CORPORATION	$0	–	-28,166	–	-1.87%	–
LHX	Exit	L3HARRIS TECHNOLOGIES INC	$0	–	-34,219	–	-1.90%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-54,246	–	-1.91%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-49,104	–	-1.94%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-3,249	–	-1.94%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-31,322	–	-2.16%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-44,112	–	-2.23%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-53,898	–	-2.28%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-35,122	–	-2.83%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-33,881	–	-2.90%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-20,571	–	-2.96%	–
MSCI	Exit	MSCI INC	$0	–	-20,256	–	-3.11%	–
TGT	Exit	TARGET CORP	$0	–	-57,276	–	-3.30%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-5,000	–	-3.37%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-47,559	–	-4.17%	–
TM	Exit	TOYOTA MOTOR CORP	$0	–	-112,882	–	-5.06%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-184,351	–	-5.25%	–
SAP	Exit	SAP SEspon adr	$0	–	-155,173	–	-5.28%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-289,924	–	-5.98%	–
AAPL	Exit	APPLE INC	$0	–	-171,023	–	-6.10%	–
SONY	Exit	SONY GROUP CORPORATIONsponsored adr	$0	–	-224,033	–	-6.25%	–
ALC	Exit	ALCON AG	$0	–	-343,332	–	-6.97%	–

Q3 2021

			Value		Shares		↓ Weighting
ALC	Buy	ALCON AG	$27,628,000	+14.6%	343,332	+0.0%	6.97%	+12.1%
SONY	Buy	SONY GROUP CORPORATIONsponsored adr	$24,774,000	+13.8%	224,033	+0.1%	6.25%	+11.4%
AAPL	Buy	APPLE INC	$24,200,000	+3.4%	171,023	+0.1%	6.10%	+1.2%
NVS	Buy	NOVARTIS AGsponsored adr	$23,710,000	-3.2%	289,924	+8.0%	5.98%	-5.3%
SAP	Buy	SAP SEspon adr	$20,955,000	-3.1%	155,173	+0.8%	5.28%	-5.2%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$20,839,000	-2.7%	184,351	-0.1%	5.25%	-4.8%
MA	Buy	MASTERCARD INCORPORATEDcl a	$16,535,000	-4.2%	47,559	+0.6%	4.17%	-6.3%
GOOGL	Sell	ALPHABET INCcap stk cl a	$13,368,000	+7.7%	5,000	-1.6%	3.37%	+5.4%
TGT	Sell	TARGET CORP	$13,103,000	-6.9%	57,276	-1.7%	3.30%	-8.9%
MSCI	Sell	MSCI INC	$12,323,000	+3.0%	20,256	-9.7%	3.11%	+0.8%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$11,753,000	+13.2%	20,571	-0.0%	2.96%	+10.8%
FB	Buy	FACEBOOK INCcl a	$11,499,000	-2.1%	33,881	+0.3%	2.90%	-4.2%
ACN	Buy	ACCENTURE PLC IRELAND	$11,236,000	+8.8%	35,122	+0.2%	2.83%	+6.5%
AXP	Sell	AMERICAN EXPRESS CO	$9,030,000	+1.1%	53,898	-0.3%	2.28%	-1.0%
VRSK	Buy	VERISK ANALYTICS INC	$8,834,000	+15.2%	44,112	+0.5%	2.23%	+12.7%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$8,549,000	-1.3%	31,322	+0.5%	2.16%	-3.4%
BKNG	Buy	BOOKING HOLDINGS INC	$7,713,000	+47.4%	3,249	+35.8%	1.94%	+44.3%
MTCH	Buy	MATCH GROUP INC NEW	$7,709,000	-1.5%	49,104	+1.2%	1.94%	-3.6%
PG	Buy	PROCTER AND GAMBLE CO	$7,584,000	+4.3%	54,246	+0.6%	1.91%	+2.0%
LHX	Buy	L3HARRIS TECHNOLOGIES INC	$7,536,000	+2.3%	34,219	+0.5%	1.90%	+0.2%
SYK	Buy	STRYKER CORPORATION	$7,428,000	+2.0%	28,166	+0.4%	1.87%	-0.2%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$7,123,000	-11.0%	120,385	+0.5%	1.80%	-12.9%
CARR	Sell	CARRIER GLOBAL CORPORATION	$7,079,000	-0.3%	136,757	-6.4%	1.78%	-2.4%
SPGI	Buy	S&P GLOBAL INC	$7,073,000	+4.9%	16,646	+1.3%	1.78%	+2.6%
IAC	Buy	IAC INTERACTIVECORP NEW	$6,527,000	-14.8%	50,096	+0.8%	1.65%	-16.6%
JNJ	Buy	JOHNSON & JOHNSON	$6,181,000	-1.0%	38,270	+1.0%	1.56%	-3.2%
GILD	Sell	GILEAD SCIENCES INC	$5,991,000	+0.1%	85,774	-1.4%	1.51%	-2.1%
ATVI	Buy	ACTIVISION BLIZZARD INC	$5,519,000	+21.4%	71,320	+49.8%	1.39%	+18.8%
VRSN	Buy	VERISIGN INC	$5,357,000	-7.9%	26,130	+2.3%	1.35%	-9.8%
GD	Buy	GENERAL DYNAMICS CORP	$5,301,000	+4.7%	27,042	+0.6%	1.34%	+2.5%
OTIS	Buy	OTIS WORLDWIDE CORP	$5,226,000	+1.3%	63,511	+0.7%	1.32%	-0.8%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$5,003,000	+27.6%	58,203	+26.6%	1.26%	+24.9%
GOOG	Sell	ALPHABET INCcap stk cl c	$1,748,000	+6.0%	656	-0.3%	0.44%	+3.8%
MDT	Buy	MEDTRONIC PLC	$1,564,000	+1.7%	12,475	+0.7%	0.39%	-0.5%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$1,194,000	+2.9%	10,690	+10.8%	0.30%	+0.7%
INFO	Sell	IHS MARKIT LTD	$1,008,000	-14.7%	8,640	-17.7%	0.25%	-16.4%
NXPI	Buy	NXP SEMICONDUCTORS N V	$809,000	-3.5%	4,130	+1.3%	0.20%	-5.6%
ASML	Buy	ASML HOLDING N V	$776,000	+110.3%	1,041	+94.9%	0.20%	+106.3%
AMZN	Buy	AMAZON COM INC	$690,000	+0.3%	210	+5.0%	0.17%	-1.7%
UL	Buy	UNILEVER PLCspon adr new	$396,000	-5.7%	7,312	+1.8%	0.10%	-7.4%
RELX	Buy	RELX PLCsponsored adr	$326,000	+11.3%	11,297	+2.9%	0.08%	+9.3%
NVDA	Buy	NVIDIA CORPORATION	$273,000	+17.7%	1,320	+355.2%	0.07%	+15.0%
FDS	New	FACTSET RESH SYS INC	$227,000	–	575	–	0.06%	–
ICLR	New	ICON PLC	$206,000	–	787	–	0.05%	–
VMEO	Exit	VIMEO INC	$0	–	-80,427	–	-1.02%	–

Q2 2021

			Value		Shares		↓ Weighting
NVS	New	NOVARTIS AGsponsored adr	$24,504,000	–	268,569	–	6.31%	–
ALC	New	ALCON AG	$24,115,000	–	343,232	–	6.21%	–
AAPL	New	APPLE INC	$23,393,000	–	170,802	–	6.03%	–
SONY	New	SONY GROUP CORPORATIONsponsored adr	$21,766,000	–	223,883	–	5.61%	–
SAP	New	SAP SEspon adr	$21,626,000	–	153,963	–	5.57%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$21,428,000	–	184,516	–	5.52%	–
TM	New	TOYOTA MOTOR CORP	$19,736,000	–	112,882	–	5.08%	–
MA	New	MASTERCARD INCORPORATEDcl a	$17,263,000	–	47,285	–	4.45%	–
TGT	New	TARGET CORP	$14,079,000	–	58,240	–	3.63%	–
GOOGL	New	ALPHABET INCcap stk cl a	$12,407,000	–	5,081	–	3.20%	–
MSCI	New	MSCI INC	$11,960,000	–	22,435	–	3.08%	–
FB	New	FACEBOOK INCcl a	$11,745,000	–	33,779	–	3.03%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$10,381,000	–	20,578	–	2.67%	–
ACN	New	ACCENTURE PLC IRELAND	$10,331,000	–	35,046	–	2.66%	–
AXP	New	AMERICAN EXPRESS CO	$8,929,000	–	54,040	–	2.30%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$8,665,000	–	31,178	–	2.23%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$8,006,000	–	119,815	–	2.06%	–
MTCH	New	MATCH GROUP INC NEW	$7,826,000	–	48,534	–	2.02%	–
VRSK	New	VERISK ANALYTICS INC	$7,671,000	–	43,903	–	1.98%	–
IAC	New	IAC INTERACTIVECORP NEW	$7,662,000	–	49,700	–	1.97%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$7,363,000	–	34,065	–	1.90%	–
SYK	New	STRYKER CORPORATION	$7,284,000	–	28,046	–	1.88%	–
PG	New	PROCTER AND GAMBLE CO	$7,273,000	–	53,899	–	1.87%	–
CARR	New	CARRIER GLOBAL CORPORATION	$7,098,000	–	146,053	–	1.83%	–
SPGI	New	S&P GLOBAL INC	$6,742,000	–	16,427	–	1.74%	–
JNJ	New	JOHNSON & JOHNSON	$6,245,000	–	37,905	–	1.61%	–
GILD	New	GILEAD SCIENCES INC	$5,988,000	–	86,957	–	1.54%	–
VRSN	New	VERISIGN INC	$5,815,000	–	25,538	–	1.50%	–
BKNG	New	BOOKING HOLDINGS INC	$5,234,000	–	2,392	–	1.35%	–
OTIS	New	OTIS WORLDWIDE CORP	$5,157,000	–	63,065	–	1.33%	–
GD	New	GENERAL DYNAMICS CORP	$5,062,000	–	26,890	–	1.30%	–
ATVI	New	ACTIVISION BLIZZARD INC	$4,545,000	–	47,618	–	1.17%	–
VMEO	New	VIMEO INC	$3,941,000	–	80,427	–	1.02%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$3,921,000	–	45,959	–	1.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,649,000	–	658	–	0.42%	–
MDT	New	MEDTRONIC PLC	$1,538,000	–	12,390	–	0.40%	–
INFO	New	IHS MARKIT LTD	$1,182,000	–	10,495	–	0.30%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$1,160,000	–	9,650	–	0.30%	–
TXN	New	TEXAS INSTRS INC	$1,145,000	–	5,952	–	0.30%	–
NXPI	New	NXP SEMICONDUCTORS N V	$838,000	–	4,075	–	0.22%	–
AMZN	New	AMAZON COM INC	$688,000	–	200	–	0.18%	–
MSFT	New	MICROSOFT CORP	$645,000	–	2,381	–	0.17%	–
CNI	New	CANADIAN NATL RY CO	$552,000	–	5,229	–	0.14%	–
CERN	New	CERNER CORP	$537,000	–	6,873	–	0.14%	–
UL	New	UNILEVER PLCspon adr new	$420,000	–	7,182	–	0.11%	–
KMB	New	KIMBERLY-CLARK CORP	$411,000	–	3,075	–	0.11%	–
ST	New	SENSATA TECHNOLOGIES HLDG PL	$400,000	–	6,905	–	0.10%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATIcl a	$373,000	–	705	–	0.10%	–
ASML	New	ASML HOLDING N V	$369,000	–	534	–	0.10%	–
V	New	VISA INC	$337,000	–	1,441	–	0.09%	–
RELX	New	RELX PLCsponsored adr	$293,000	–	10,982	–	0.08%	–
COST	New	COSTCO WHSL CORP NEW	$253,000	–	640	–	0.06%	–
NVDA	New	NVIDIA CORPORATION	$232,000	–	290	–	0.06%	–

Q4 2020

			Value		Shares		↓ Weighting
HTBK	Exit	HERITAGE COMM CORP	$0	–	-17,290	–	-0.04%	–
UL	Exit	UNILEVER PLCspon adr new	$0	–	-3,612	–	-0.08%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-640	–	-0.08%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-1,661	–	-0.08%	–
INTC	Exit	INTEL CORP	$0	–	-4,641	–	-0.09%	–
V	Exit	VISA INC	$0	–	-1,441	–	-0.10%	–
AMZN	Exit	AMAZON COM INC	$0	–	-96	–	-0.11%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-3,225	–	-0.17%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,646	–	-0.20%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-6,231	–	-0.23%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-8,565	–	-0.25%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-10,885	–	-0.31%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-613	–	-0.32%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-41,012	–	-0.85%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-44,330	–	-1.00%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-2,113	–	-1.30%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-26,165	–	-1.31%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-129,213	–	-1.42%	–
VRSN	Exit	VERISIGN INC	$0	–	-23,232	–	-1.72%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-44,257	–	-1.77%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-79,116	–	-1.80%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-35,891	–	-1.93%	–
IAC	Exit	IAC INTERACTIVECORP NEW	$0	–	-44,745	–	-1.93%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-54,450	–	-1.97%	–
LHX	Exit	L3HARRIS TECHNOLOGIES INC	$0	–	-33,606	–	-2.06%	–
SYK	Exit	STRYKER CORPORATION	$0	–	-27,579	–	-2.07%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-42,686	–	-2.14%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-108,457	–	-2.36%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-31,393	–	-2.41%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-30,832	–	-2.51%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-4,948	–	-2.62%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-39,234	–	-2.62%	–
MSCI	Exit	MSCI INC	$0	–	-20,480	–	-2.64%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-34,799	–	-3.29%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-20,837	–	-3.32%	–
TGT	Exit	TARGET CORP	$0	–	-62,577	–	-3.55%	–
TM	Exit	TOYOTA MOTOR CORP	$0	–	-78,245	–	-3.74%	–
SONY	Exit	SONY CORPsponsored adr	$0	–	-140,806	–	-3.90%	–
ALC	Exit	ALCON AG	$0	–	-214,973	–	-4.42%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-170,759	–	-5.36%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-44,462	–	-5.42%	–
SAP	Exit	SAP SEspon adr	$0	–	-111,319	–	-6.26%	–
AAPL	Exit	APPLE INC	$0	–	-151,094	–	-6.31%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-150,633	–	-6.78%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-164,714	–	-7.15%	–

Q3 2020

			Value		Shares		↓ Weighting
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$19,822,000	+26.4%	164,714	+12.8%	7.15%	+9.4%
NXPI	Buy	NXP SEMICONDUCTORS N V	$18,801,000	+26.4%	150,633	+15.5%	6.78%	+9.4%
AAPL	Buy	APPLE INC	$17,498,000	+3.7%	151,094	+226.7%	6.31%	-10.2%
SAP	Buy	SAP SEspon adr	$17,345,000	+31.7%	111,319	+18.3%	6.26%	+14.0%
MA	Buy	MASTERCARD INCORPORATEDcl a	$15,036,000	+19.3%	44,462	+4.3%	5.42%	+3.2%
NVS	Buy	NOVARTIS AGsponsored adr	$14,849,000	+18.0%	170,759	+18.5%	5.36%	+2.1%
ALC	Buy	ALCON AG	$12,243,000	+10.9%	214,973	+11.6%	4.42%	-4.0%
SONY	Buy	SONY CORPsponsored adr	$10,807,000	+50.6%	140,806	+35.7%	3.90%	+30.4%
TM	Buy	TOYOTA MOTOR CORP	$10,363,000	+22.6%	78,245	+16.3%	3.74%	+6.1%
TGT	Buy	TARGET CORP	$9,851,000	+36.5%	62,577	+4.0%	3.55%	+18.2%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$9,200,000	+25.2%	20,837	+2.7%	3.32%	+8.4%
FB	Buy	FACEBOOK INCcl a	$9,114,000	+21.7%	34,799	+5.5%	3.29%	+5.3%
MSCI	Buy	MSCI INC	$7,307,000	+9.2%	20,480	+2.2%	2.64%	-5.5%
VRSK	Buy	VERISK ANALYTICS INC	$7,270,000	+13.9%	39,234	+4.6%	2.62%	-1.4%
GOOGL	Buy	ALPHABET INCcap stk cl a	$7,252,000	+13.2%	4,948	+9.6%	2.62%	-2.0%
ACN	Buy	ACCENTURE PLC IRELAND	$6,968,000	+11.1%	30,832	+5.6%	2.51%	-3.8%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$6,685,000	+21.9%	31,393	+2.2%	2.41%	+5.5%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$6,539,000	+7.5%	108,457	+4.8%	2.36%	-7.0%
PG	Buy	PROCTER AND GAMBLE CO	$5,933,000	+23.7%	42,686	+6.4%	2.14%	+7.1%
SYK	Sell	STRYKER CORPORATION	$5,747,000	+15.3%	27,579	-0.3%	2.07%	-0.2%
LHX	Buy	L3HARRIS TECHNOLOGIES INC	$5,708,000	+26.2%	33,606	+26.0%	2.06%	+9.2%
AXP	Buy	AMERICAN EXPRESS CO	$5,459,000	+12.5%	54,450	+6.9%	1.97%	-2.6%
IAC	New	IAC INTERACTIVECORP NEW	$5,360,000	–	44,745	–	1.93%	–
JNJ	Buy	JOHNSON & JOHNSON	$5,343,000	+16.0%	35,891	+9.6%	1.93%	+0.4%
GILD	Buy	GILEAD SCIENCES INC	$4,999,000	-14.3%	79,116	+4.3%	1.80%	-25.8%
MTCH	New	MATCH GROUP INC NEW	$4,897,000	–	44,257	–	1.77%	–
VRSN	New	VERISIGN INC	$4,759,000	–	23,232	–	1.72%	–
CARR	Buy	CARRIER GLOBAL CORPORATION	$3,946,000	+58.7%	129,213	+15.5%	1.42%	+37.4%
GD	Buy	GENERAL DYNAMICS CORP	$3,622,000	+1.2%	26,165	+9.3%	1.31%	-12.3%
BKNG	Buy	BOOKING HOLDINGS INC	$3,615,000	+12.6%	2,113	+4.8%	1.30%	-2.5%
OTIS	Buy	OTIS WORLDWIDE CORP	$2,767,000	+23.3%	44,330	+12.3%	1.00%	+6.6%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$2,360,000	-3.7%	41,012	+3.2%	0.85%	-16.7%
GOOG	Buy	ALPHABET INCcap stk cl c	$901,000	+6.4%	613	+2.3%	0.32%	-7.9%
INFO	Buy	IHS MARKIT LTD	$855,000	+72.4%	10,885	+65.7%	0.31%	+48.8%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$694,000	+155.1%	8,565	+78.8%	0.25%	+121.2%
MDT	Buy	MEDTRONIC PLC	$648,000	+105.7%	6,231	+81.5%	0.23%	+78.6%
MSFT	Buy	MICROSOFT CORP	$557,000	+12.3%	2,646	+8.5%	0.20%	-2.9%
AMZN	Sell	AMAZON COM INC	$302,000	+8.2%	96	-5.0%	0.11%	-6.0%
INTC	Sell	INTEL CORP	$240,000	-38.1%	4,641	-28.3%	0.09%	-46.3%
TXN	Sell	TEXAS INSTRS INC	$237,000	+0.4%	1,661	-10.7%	0.08%	-13.3%
COST	Sell	COSTCO WHSL CORP NEW	$227,000	+7.1%	640	-8.4%	0.08%	-6.8%
UL	New	UNILEVER PLCspon adr new	$223,000	–	3,612	–	0.08%	–
HTBK	New	HERITAGE COMM CORP	$115,000	–	17,290	–	0.04%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-6,474	–	-0.10%	–
FISV	Exit	FISERV INC	$0	–	-41,890	–	-1.70%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-24,748	–	-1.95%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-171,389	–	-2.18%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-18,749	–	-2.53%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$16,870,000	–	46,246	–	7.03%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$15,685,000	–	146,001	–	6.54%	–
NXPI	New	NXP SEMICONDUCTORS N V	$14,871,000	–	130,398	–	6.20%	–
SAP	New	SAP SEspon adr	$13,172,000	–	94,089	–	5.49%	–
MA	New	MASTERCARD INCORPORATEDcl a	$12,606,000	–	42,631	–	5.25%	–
NVS	New	NOVARTIS AGsponsored adr	$12,582,000	–	144,059	–	5.24%	–
ALC	New	ALCON AG	$11,040,000	–	192,608	–	4.60%	–
TM	New	TOYOTA MOTOR CORP	$8,456,000	–	67,305	–	3.52%	–
FB	New	FACEBOOK INCcl a	$7,491,000	–	32,990	–	3.12%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$7,350,000	–	20,284	–	3.06%	–
TGT	New	TARGET CORP	$7,215,000	–	60,156	–	3.01%	–
SONY	New	SONY CORPsponsored adr	$7,175,000	–	103,788	–	2.99%	–
MSCI	New	MSCI INC	$6,690,000	–	20,042	–	2.79%	–
GOOGL	New	ALPHABET INCcap stk cl a	$6,404,000	–	4,516	–	2.67%	–
VRSK	New	VERISK ANALYTICS INC	$6,383,000	–	37,501	–	2.66%	–
ACN	New	ACCENTURE PLC IRELAND	$6,270,000	–	29,203	–	2.61%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$6,085,000	–	103,482	–	2.54%	–
IAC	New	IAC INTERACTIVECORP	$6,063,000	–	18,749	–	2.53%	–
GILD	New	GILEAD SCIENCES INC	$5,834,000	–	75,821	–	2.43%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$5,485,000	–	30,727	–	2.29%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$5,219,000	–	171,389	–	2.18%	–
SYK	New	STRYKER CORPORATION	$4,985,000	–	27,668	–	2.08%	–
AXP	New	AMERICAN EXPRESS CO	$4,851,000	–	50,955	–	2.02%	–
PG	New	PROCTER AND GAMBLE CO	$4,796,000	–	40,111	–	2.00%	–
EL	New	LAUDER ESTEE COS INCcl a	$4,669,000	–	24,748	–	1.95%	–
JNJ	New	JOHNSON & JOHNSON	$4,605,000	–	32,745	–	1.92%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$4,524,000	–	26,664	–	1.88%	–
FISV	New	FISERV INC	$4,089,000	–	41,890	–	1.70%	–
GD	New	GENERAL DYNAMICS CORP	$3,578,000	–	23,942	–	1.49%	–
BKNG	New	BOOKING HOLDINGS INC	$3,210,000	–	2,016	–	1.34%	–
CARR	New	CARRIER GLOBAL CORPORATION	$2,486,000	–	111,859	–	1.04%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$2,450,000	–	39,753	–	1.02%	–
OTIS	New	OTIS WORLDWIDE CORP	$2,245,000	–	39,485	–	0.94%	–
GOOG	New	ALPHABET INCcap stk cl c	$847,000	–	599	–	0.35%	–
INFO	New	IHS MARKIT LTD	$496,000	–	6,570	–	0.21%	–
MSFT	New	MICROSOFT CORP	$496,000	–	2,439	–	0.21%	–
KMB	New	KIMBERLY CLARK CORP	$456,000	–	3,225	–	0.19%	–
INTC	New	INTEL CORP	$388,000	–	6,477	–	0.16%	–
MDT	New	MEDTRONIC PLC	$315,000	–	3,433	–	0.13%	–
AMZN	New	AMAZON COM INC	$279,000	–	101	–	0.12%	–
V	New	VISA INC	$278,000	–	1,441	–	0.12%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$272,000	–	4,790	–	0.11%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$241,000	–	6,474	–	0.10%	–
TXN	New	TEXAS INSTRS INC	$236,000	–	1,861	–	0.10%	–
COST	New	COSTCO WHSL CORP NEW	$212,000	–	699	–	0.09%	–

Q4 2019

			Value		Shares		↓ Weighting
RELX	Exit	RELX PLCsponsored adr	$0	–	-8,875	–	-0.05%	–
V	Exit	VISA INC	$0	–	-1,441	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,907	–	-0.06%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-2,110	–	-0.07%	–
UL	Exit	UNILEVER PLCspon adr new	$0	–	-4,642	–	-0.07%	–
INTC	Exit	INTEL CORP	$0	–	-6,227	–	-0.08%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-6,549	–	-0.08%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-3,742	–	-0.10%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-3,225	–	-0.11%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-7,240	–	-0.12%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-961	–	-0.29%	–
SONY	Exit	SONY CORPsponsored adr	$0	–	-68,430	–	-0.99%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-105,737	–	-1.57%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-52,320	–	-1.90%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-64,142	–	-2.03%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-63,850	–	-2.14%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-51,496	–	-2.30%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-150,770	–	-2.34%	–
ALC	Exit	ALCON INC	$0	–	-175,348	–	-2.50%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-119,790	–	-2.55%	–
SAP	Exit	SAP SEspon adr	$0	–	-89,062	–	-2.57%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-176,830	–	-2.60%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-52,750	–	-2.69%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-89,525	–	-2.73%	–
BAC	Exit	BANK AMER CORP	$0	–	-382,171	–	-2.73%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-233,031	–	-2.90%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-66,928	–	-2.92%	–
LHX	Exit	L3HARRIS TECHNOLOGIES INC	$0	–	-58,352	–	-2.98%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-62,604	–	-3.05%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-105,959	–	-3.07%	–
FISV	Exit	FISERV INC	$0	–	-121,288	–	-3.08%	–
MSCI	Exit	MSCI INC	$0	–	-58,084	–	-3.10%	–
TM	Exit	TOYOTA MOTOR CORP	$0	–	-95,125	–	-3.13%	–
DIS	Exit	DISNEY WALT CO	$0	–	-98,757	–	-3.15%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-10,735	–	-3.21%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-70,838	–	-3.34%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-47,386	–	-3.38%	–
SYK	Exit	STRYKER CORP	$0	–	-63,818	–	-3.38%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-87,582	–	-3.39%	–
TGT	Exit	TARGET CORP	$0	–	-132,885	–	-3.48%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-7,574	–	-3.64%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-150,288	–	-4.03%	–
AAPL	Exit	APPLE INC	$0	–	-107,807	–	-5.92%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-91,877	–	-6.11%	–

Q3 2019

			Value		Shares		↓ Weighting
MA	Sell	MASTERCARD INCcl a	$24,951,000	+1.4%	91,877	-1.2%	6.11%	-1.2%
AAPL	Buy	APPLE INC	$24,146,000	+13.2%	107,807	+0.0%	5.92%	+10.3%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTord	$16,457,000	-11.5%	150,288	-6.6%	4.03%	-13.7%
BKNG	Buy	BOOKING HLDGS INC	$14,865,000	+5.2%	7,574	+0.5%	3.64%	+2.5%
TGT	Buy	TARGET CORP	$14,207,000	+35.4%	132,885	+9.7%	3.48%	+32.0%
VRSK	Sell	VERISK ANALYTICS INC	$13,850,000	+1.0%	87,582	-6.5%	3.39%	-1.5%
SYK	Sell	STRYKER CORP	$13,804,000	+3.3%	63,818	-1.9%	3.38%	+0.6%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$13,802,000	-5.5%	47,386	-4.8%	3.38%	-7.9%
ACN	Sell	ACCENTURE PLC IRELAND	$13,626,000	+2.1%	70,838	-2.0%	3.34%	-0.5%
GOOGL	Buy	ALPHABET INCcap stk cl a	$13,109,000	+13.1%	10,735	+0.3%	3.21%	+10.2%
DIS	Buy	DISNEY WALT CO	$12,870,000	-6.0%	98,757	+0.7%	3.15%	-8.4%
TM	Sell	TOYOTA MOTOR CORP	$12,793,000	+0.4%	95,125	-7.4%	3.13%	-2.1%
MSCI	Sell	MSCI INC	$12,648,000	-11.4%	58,084	-2.9%	3.10%	-13.7%
FISV	Sell	FISERV INC	$12,564,000	-9.2%	121,288	-20.1%	3.08%	-11.4%
AXP	Buy	AMERICAN EXPRESS CO	$12,533,000	+3.7%	105,959	+8.2%	3.07%	+1.1%
EL	Sell	LAUDER ESTEE COS INCcl a	$12,455,000	+5.7%	62,604	-2.7%	3.05%	+3.0%
LHX	New	L3HARRIS TECHNOLOGIES INC	$12,175,000	–	58,352	–	2.98%	–
FB	Buy	FACEBOOK INCcl a	$11,919,000	-2.9%	66,928	+5.2%	2.92%	-5.4%
BMY	Buy	BRISTOL MYERS SQUIBB CO	$11,817,000	+12.3%	233,031	+0.4%	2.90%	+9.5%
BAC	Buy	BANK AMER CORP	$11,148,000	+1.3%	382,171	+0.7%	2.73%	-1.3%
PG	Sell	PROCTER & GAMBLE CO	$11,135,000	+6.2%	89,525	-6.4%	2.73%	+3.5%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$10,973,000	-2.1%	52,750	+0.4%	2.69%	-4.5%
RDSB	Sell	ROYAL DUTCH SHELL PLCspon adr b	$10,592,000	-17.6%	176,830	-9.6%	2.60%	-19.7%
SAP	Sell	SAP SEspon adr	$10,498,000	-24.4%	89,062	-12.2%	2.57%	-26.3%
NVS	Sell	NOVARTIS A Gsponsored adr	$10,410,000	-14.6%	119,790	-10.2%	2.55%	-16.7%
ALC	Buy	ALCON INC	$10,221,000	+634.3%	175,348	+681.6%	2.50%	+615.4%
GILD	Buy	GILEAD SCIENCES INC	$9,556,000	+4.6%	150,770	+11.5%	2.34%	+2.0%
GD	Buy	GENERAL DYNAMICS CORP	$9,410,000	+26.0%	51,496	+25.4%	2.30%	+22.8%
UTX	Buy	UNITED TECHNOLOGIES CORP	$8,717,000	+5.9%	63,850	+1.0%	2.14%	+3.2%
JNJ	Buy	JOHNSON & JOHNSON	$8,299,000	-6.7%	64,142	+0.5%	2.03%	-9.0%
TRV	Buy	TRAVELERS COMPANIES INC	$7,779,000	-0.2%	52,320	+0.4%	1.90%	-2.8%
MPC	Sell	MARATHON PETE CORP	$6,424,000	+8.2%	105,737	-0.5%	1.57%	+5.5%
SONY	Sell	SONY CORPsponsored adr	$4,046,000	-19.6%	68,430	-28.7%	0.99%	-21.7%
GOOG	Sell	ALPHABET INCcap stk cl c	$1,171,000	+12.1%	961	-0.6%	0.29%	+9.1%
INFO	Sell	IHS MARKIT LTD	$484,000	-3.0%	7,240	-7.6%	0.12%	-4.8%
TXN	Sell	TEXAS INSTRS INC	$273,000	+11.0%	2,110	-1.6%	0.07%	+8.1%
MSFT	Sell	MICROSOFT CORP	$265,000	+0.4%	1,907	-3.2%	0.06%	-1.5%
FDS	Exit	FACTSET RESH SYS INC	$0	–	-720	–	-0.05%	–
HRS	Exit	HARRIS CORP DEL	$0	–	-57,929	–	-2.75%	–

Q2 2019

			Value		Shares		↓ Weighting
MA	New	MASTERCARD INCcl a	$24,607,000	–	93,022	–	6.18%	–
AAPL	New	APPLE INC	$21,334,000	–	107,789	–	5.36%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$18,595,000	–	160,841	–	4.67%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$14,611,000	–	49,751	–	3.67%	–
MSCI	New	MSCI INC	$14,277,000	–	59,791	–	3.59%	–
BKNG	New	BOOKING HLDGS INC	$14,128,000	–	7,536	–	3.55%	–
SAP	New	SAP SEspon adr	$13,883,000	–	101,481	–	3.49%	–
FISV	New	FISERV INC	$13,832,000	–	151,731	–	3.48%	–
VRSK	New	VERISK ANALYTICS INC	$13,713,000	–	93,632	–	3.45%	–
DIS	New	DISNEY WALT CO	$13,692,000	–	98,052	–	3.44%	–
SYK	New	STRYKER CORP	$13,369,000	–	65,033	–	3.36%	–
ACN	New	ACCENTURE PLC IRELAND	$13,351,000	–	72,259	–	3.36%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$12,860,000	–	195,619	–	3.23%	–
TM	New	TOYOTA MOTOR CORP	$12,738,000	–	102,738	–	3.20%	–
FB	New	FACEBOOK INCcl a	$12,281,000	–	63,634	–	3.09%	–
NVS	New	NOVARTIS A Gsponsored adr	$12,183,000	–	133,420	–	3.06%	–
AXP	New	AMERICAN EXPRESS CO	$12,088,000	–	97,928	–	3.04%	–
EL	New	LAUDER ESTEE COS INCcl a	$11,783,000	–	64,352	–	2.96%	–
GOOGL	New	ALPHABET INCcap stk cl a	$11,594,000	–	10,707	–	2.91%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$11,204,000	–	52,560	–	2.82%	–
BAC	New	BANK AMER CORP	$11,005,000	–	379,485	–	2.77%	–
HRS	New	HARRIS CORP DEL	$10,956,000	–	57,929	–	2.75%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$10,524,000	–	232,069	–	2.64%	–
TGT	New	TARGET CORP	$10,492,000	–	121,146	–	2.64%	–
PG	New	PROCTER AND GAMBLE CO	$10,485,000	–	95,624	–	2.64%	–
GILD	New	GILEAD SCIENCES INC	$9,133,000	–	135,184	–	2.30%	–
JNJ	New	JOHNSON & JOHNSON	$8,893,000	–	63,853	–	2.24%	–
UTX	New	UNITED TECHNOLOGIES CORP	$8,231,000	–	63,219	–	2.07%	–
TRV	New	TRAVELERS COMPANIES INC	$7,794,000	–	52,129	–	1.96%	–
GD	New	GENERAL DYNAMICS CORP	$7,468,000	–	41,074	–	1.88%	–
MPC	New	MARATHON PETE CORP	$5,936,000	–	106,221	–	1.49%	–
SONY	New	SONY CORPsponsored adr	$5,032,000	–	96,040	–	1.26%	–
ALC	New	ALCON INC	$1,392,000	–	22,434	–	0.35%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,045,000	–	967	–	0.26%	–
INFO	New	IHS MARKIT LTD	$499,000	–	7,835	–	0.12%	–
KMB	New	KIMBERLY CLARK CORP	$430,000	–	3,225	–	0.11%	–
MDT	New	MEDTRONIC PLC	$364,000	–	3,742	–	0.09%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$321,000	–	6,549	–	0.08%	–
INTC	New	INTEL CORP	$298,000	–	6,227	–	0.08%	–
UL	New	UNILEVER PLCspon adr new	$288,000	–	4,642	–	0.07%	–
MSFT	New	MICROSOFT CORP	$264,000	–	1,971	–	0.07%	–
V	New	VISA INC	$250,000	–	1,441	–	0.06%	–
TXN	New	TEXAS INSTRS INC	$246,000	–	2,145	–	0.06%	–
RELX	New	RELX PLCsponsored adr	$217,000	–	8,875	–	0.06%	–
FDS	New	FACTSET RESH SYS INC	$206,000	–	720	–	0.05%	–

Q4 2018

			Value		Shares		↓ Weighting
V	Exit	VISA INC COM CL A	$0	–	-1,425	–	-0.06%	–
UL	Exit	UNILEVER PLC SPONSORED ADR NEWadr	$0	–	-4,457	–	-0.07%	–
TXN	Exit	TEXAS INSTRUMENTS INC	$0	–	-2,385	–	-0.07%	–
ALGN	Exit	ALIGN TECHNOLOGIES INC COM	$0	–	-700	–	-0.07%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-3,435	–	-0.10%	–
ST	Exit	SENSATA TECHNOLOGIES HOLDING P	$0	–	-12,009	–	-0.16%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-7,002	–	-0.18%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-16,640	–	-0.24%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-1,964	–	-0.63%	–
TRV	Exit	TRAVELERS COS INC/THE	$0	–	-60,002	–	-2.09%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-86,152	–	-2.10%	–
CL	Exit	COLGATE-PALMOLIVE CO	$0	–	-129,489	–	-2.33%	–
TM	Exit	TOYOTA MOTOR CORP ADRadr	$0	–	-71,700	–	-2.39%	–
SAP	Exit	SAP SE SPONS ADRadr	$0	–	-75,422	–	-2.49%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-45,580	–	-2.50%	–
RDSB	Exit	ROYAL DUTCH SHELL PLC - ADR Badr	$0	–	-132,830	–	-2.53%	–
MMM	Exit	3M CO	$0	–	-45,962	–	-2.60%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-70,547	–	-2.62%	–
CELG	Exit	CELGENE CORP	$0	–	-109,212	–	-2.62%	–
PG	Exit	PROCTER & GAMBLE CO/THE	$0	–	-118,401	–	-2.65%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-120,387	–	-2.75%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-73,496	–	-2.76%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-139,156	–	-2.88%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-377,189	–	-2.98%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-107,668	–	-3.08%	–
EL	Exit	ESTEE LAUDER COMPANIES-CL A	$0	–	-79,378	–	-3.10%	–
DIS	Exit	WALT DISNEY CO/THE	$0	–	-100,096	–	-3.14%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC-CL B	$0	–	-55,265	–	-3.18%	–
SYK	Exit	STRYKER CORP	$0	–	-74,129	–	-3.54%	–
GOOGL	Exit	ALPHABET INC-CL A	$0	–	-10,914	–	-3.54%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-110,797	–	-3.59%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH	$0	–	-117,538	–	-3.71%	–
ACN	Exit	ACCENTURE PLC-CL A	$0	–	-82,137	–	-3.75%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-7,065	–	-3.76%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-59,668	–	-3.91%	–
FISV	Exit	FISERV INC	$0	–	-178,876	–	-3.96%	–
MSCI	Exit	MSCI INC	$0	–	-95,650	–	-4.56%	–
MA	Exit	MASTERCARD INC - A	$0	–	-108,473	–	-6.48%	–
AAPL	Exit	APPLE INC	$0	–	-112,558	–	-6.82%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$25,409,000	+4.3%	112,558	-14.5%	6.82%	+11.4%
MA	Sell	MASTERCARD INC - A	$24,147,000	-3.9%	108,473	-15.1%	6.48%	+2.7%
MSCI	Sell	MSCI INC	$16,969,000	-11.7%	95,650	-17.6%	4.56%	-5.7%
FISV	Sell	FISERV INC	$14,736,000	-8.8%	178,876	-18.0%	3.96%	-2.6%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$14,564,000	-2.8%	59,668	-17.5%	3.91%	+3.8%
BKNG	Sell	BOOKING HOLDINGS INC	$14,017,000	-18.0%	7,065	-16.2%	3.76%	-12.4%
ACN	Sell	ACCENTURE PLC-CL A	$13,980,000	+3.8%	82,137	-0.2%	3.75%	+10.8%
CHKP	Buy	CHECK POINT SOFTWARE TECH	$13,831,000	+20.5%	117,538	+0.0%	3.71%	+28.7%
VRSK	Sell	VERISK ANALYTICS INC	$13,357,000	-6.1%	110,797	-16.2%	3.59%	+0.2%
GOOGL	Sell	ALPHABET INC-CL A	$13,174,000	-10.1%	10,914	-15.9%	3.54%	-4.0%
SYK	Sell	STRYKER CORP	$13,171,000	-13.5%	74,129	-17.8%	3.54%	-7.6%
BRKB	Sell	BERKSHIRE HATHAWAY INC-CL B	$11,833,000	-2.6%	55,265	-15.1%	3.18%	+4.0%
DIS	Sell	WALT DISNEY CO/THE	$11,705,000	-4.9%	100,096	-14.7%	3.14%	+1.6%
EL	New	ESTEE LAUDER COMPANIES-CL A	$11,535,000	–	79,378	–	3.10%	–
AXP	Sell	AMERICAN EXPRESS CO	$11,466,000	-11.8%	107,668	-18.8%	3.08%	-5.8%
BAC	Sell	BANK OF AMERICA CORP	$11,112,000	-13.0%	377,189	-16.7%	2.98%	-7.1%
GILD	Sell	GILEAD SCIENCES INC	$10,744,000	-8.6%	139,156	-16.2%	2.88%	-2.4%
UTX	Sell	UNITED TECHNOLOGIES CORP	$10,275,000	-7.7%	73,496	-17.5%	2.76%	-1.5%
XOM	Sell	EXXON MOBIL CORP	$10,235,000	-13.9%	120,387	-16.3%	2.75%	-8.1%
PG	Sell	PROCTER & GAMBLE CO/THE	$9,855,000	-11.3%	118,401	-16.8%	2.65%	-5.3%
CELG	Sell	CELGENE CORP	$9,773,000	-3.7%	109,212	-14.5%	2.62%	+2.9%
JNJ	Sell	JOHNSON & JOHNSON	$9,747,000	-5.4%	70,547	-16.9%	2.62%	+1.0%
MMM	Sell	3M CO	$9,685,000	-10.4%	45,962	-16.3%	2.60%	-4.3%
RDSB	Sell	ROYAL DUTCH SHELL PLC - ADR Badr	$9,422,000	-2.6%	132,830	-0.2%	2.53%	+4.0%
GD	Sell	GENERAL DYNAMICS CORP	$9,331,000	-7.0%	45,580	-15.4%	2.50%	-0.8%
SAP	Sell	SAP SE SPONS ADRadr	$9,277,000	+6.3%	75,422	-0.1%	2.49%	+13.5%
CL	Sell	COLGATE-PALMOLIVE CO	$8,669,000	-14.4%	129,489	-17.1%	2.33%	-8.5%
SWKS	Sell	SKYWORKS SOLUTIONS INC	$7,815,000	-22.5%	86,152	-17.4%	2.10%	-17.2%
TRV	Sell	TRAVELERS COS INC/THE	$7,783,000	-13.0%	60,002	-18.0%	2.09%	-7.1%
GOOG	Sell	ALPHABET INC-CL C	$2,344,000	-18.3%	1,964	-23.6%	0.63%	-12.8%
INFO	Sell	IHS MARKIT LTD	$898,000	+1.7%	16,640	-2.8%	0.24%	+8.6%
MDT	Sell	MEDTRONIC PLC	$689,000	+14.8%	7,002	-0.1%	0.18%	+22.5%
ST	Sell	SENSATA TECHNOLOGIES HOLDING P	$595,000	+2.2%	12,009	-1.8%	0.16%	+9.6%
TXN	Sell	TEXAS INSTRUMENTS INC	$256,000	-8.2%	2,385	-5.9%	0.07%	-1.4%
V	New	VISA INC COM CL A	$214,000	–	1,425	–	0.06%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-150,056	–	-2.88%	–

Q2 2018

			Value		Shares		↓ Weighting
MA	New	MASTERCARD INC-CLASS A	$25,114,000	–	127,796	–	6.32%	–
AAPL	New	APPLE INC	$24,362,000	–	131,610	–	6.13%	–
MSCI	New	MSCI INC COM	$19,207,000	–	116,105	–	4.83%	–
BKNG	New	BOOKING HOLDINGS INC	$17,096,000	–	8,434	–	4.30%	–
FISV	New	FISERV INC	$16,162,000	–	218,146	–	4.06%	–
SYK	New	STRYKER CORP	$15,223,000	–	90,153	–	3.83%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$14,979,000	–	72,312	–	3.77%	–
GOOGL	New	ALPHABET INC CL A	$14,647,000	–	12,971	–	3.68%	–
VRSK	New	VERISK ANALYTICS INC	$14,229,000	–	132,187	–	3.58%	–
ACN	New	ACCENTURE PLC	$13,467,000	–	82,319	–	3.39%	–
AXP	New	AMERICAN EXPRESS CO	$12,993,000	–	132,578	–	3.27%	–
BAC	New	BANK OF AMERICA CORP	$12,772,000	–	453,072	–	3.21%	–
DIS	New	WALT DISNEY CO	$12,303,000	–	117,382	–	3.09%	–
BRKB	New	BERKSHIRE HATHAWAY INC	$12,149,000	–	65,092	–	3.06%	–
XOM	New	EXXON MOBIL CORP	$11,893,000	–	143,761	–	2.99%	–
GILD	New	GILEAD SCIENCES INC	$11,759,000	–	165,998	–	2.96%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTD	$11,478,000	–	117,502	–	2.89%	–
OMC	New	OMNICOM GROUP INC	$11,445,000	–	150,056	–	2.88%	–
UTX	New	UNITED TECHNOLOGIES CORP	$11,136,000	–	89,070	–	2.80%	–
PG	New	PROCTER AND GAMBLE CO	$11,107,000	–	142,293	–	2.79%	–
MMM	New	3M CO	$10,809,000	–	54,945	–	2.72%	–
JNJ	New	JOHNSON AND JOHNSON CO	$10,299,000	–	84,879	–	2.59%	–
CELG	New	CELGENE CORP	$10,146,000	–	127,745	–	2.55%	–
CL	New	COLGATE PALMOLIVE CO	$10,122,000	–	156,175	–	2.54%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$10,081,000	–	104,301	–	2.54%	–
GD	New	GENERAL DYNAMICS CORP	$10,037,000	–	53,846	–	2.52%	–
RDSB	New	ROYAL DUTCH SHELL PLC - ADR Badr	$9,671,000	–	133,115	–	2.43%	–
TM	New	TOYOTA MOTOR CORP ADRadr	$9,236,000	–	71,700	–	2.32%	–
TRV	New	TRAVELERS COS INC	$8,948,000	–	73,140	–	2.25%	–
SAP	New	SAP SE SPONS ADRadr	$8,730,000	–	75,476	–	2.20%	–
GOOG	New	ALPHABET INC CLASS C	$2,869,000	–	2,572	–	0.72%	–
INFO	New	IHS MARKIT LTD	$883,000	–	17,120	–	0.22%	–
MDT	New	MEDTRONIC PLC	$600,000	–	7,011	–	0.15%	–
ST	New	SENSATA TECHNOLOGIES HOLDING P	$582,000	–	12,234	–	0.15%	–
KMB	New	KIMBERLY CLARK CORP	$362,000	–	3,435	–	0.09%	–
TXN	New	TEXAS INSTRUMENTS INC	$279,000	–	2,535	–	0.07%	–
UL	New	UNILEVER PLC SPONSORED ADR NEWadr	$246,000	–	4,457	–	0.06%	–
ALGN	New	ALIGN TECHNOLOGIES INC COM	$239,000	–	700	–	0.06%	–

Q4 2017

			Value		Shares		↓ Weighting
ORCL	Exit	ORACLE CORPORATION	$0	–	-4,154	–	-0.06%	–
TXN	Exit	TEXAS INSTRUMENTS INC	$0	–	-2,300	–	-0.06%	–
UL	Exit	UNILEVER PLC SPONSORED ADR NEWadr	$0	–	-3,652	–	-0.06%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-3,435	–	-0.11%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-6,831	–	-0.15%	–
ST	Exit	SENSATA TECHNOLOGIES HOLDING N	$0	–	-11,844	–	-0.16%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-16,550	–	-0.20%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-2,946	–	-0.79%	–
TRV	Exit	TRAVELERS COS INC/THE	$0	–	-42,381	–	-1.45%	–
TM	Exit	TOYOTA MTR CORP SPONSORED ADRadr	$0	–	-72,890	–	-2.42%	–
SAP	Exit	SAP SE SPONS ADRadr	$0	–	-84,631	–	-2.59%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-84,127	–	-2.73%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-119,354	–	-2.73%	–
OMC	Exit	OMNICOM GROUP	$0	–	-141,718	–	-2.93%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-103,108	–	-2.93%	–
CL	Exit	COLGATE-PALMOLIVE CO	$0	–	-144,892	–	-2.95%	–
PG	Exit	PROCTER & GAMBLE CO/THE	$0	–	-118,878	–	-3.02%	–
GD	Exit	GENERAL DYNAMICS CORP	$0	–	-52,716	–	-3.03%	–
DIS	Exit	WALT DISNEY CO/THE	$0	–	-110,295	–	-3.04%	–
ACN	Exit	ACCENTURE PLC-CL A	$0	–	-81,187	–	-3.06%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-85,217	–	-3.09%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-437,525	–	-3.10%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC-CL B	$0	–	-61,414	–	-3.14%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-125,419	–	-3.17%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-136,687	–	-3.18%	–
MMM	Exit	3M CO	$0	–	-54,873	–	-3.22%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-146,561	–	-3.32%	–
GOOGL	Exit	ALPHABET INC-CL A	$0	–	-12,647	–	-3.44%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH	$0	–	-109,345	–	-3.48%	–
SYK	Exit	STRYKER CORP	$0	–	-90,585	–	-3.59%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-70,855	–	-3.74%	–
FISV	Exit	FISERV INC	$0	–	-108,693	–	-3.91%	–
PCLN	Exit	PRICELINE GROUP INC/THE	$0	–	-8,550	–	-4.37%	–
CELG	Exit	CELGENE CORP	$0	–	-110,716	–	-4.51%	–
MSCI	Exit	MSCI INC	$0	–	-138,947	–	-4.54%	–
AAPL	Exit	APPLE INC	$0	–	-133,529	–	-5.75%	–
MA	Exit	MASTERCARD INC - A	$0	–	-152,021	–	-5.99%	–

Q3 2017

			Value		Shares		↓ Weighting
MA	Sell	MASTERCARD INC - A	$21,465,000	+14.6%	152,021	-1.4%	5.99%	+13.5%
AAPL	Buy	APPLE INC	$20,580,000	+7.4%	133,529	+0.3%	5.75%	+6.3%
MSCI	Sell	MSCI INC	$16,243,000	+9.7%	138,947	-3.3%	4.54%	+8.6%
CELG	Sell	CELGENE CORP	$16,145,000	+9.7%	110,716	-2.3%	4.51%	+8.6%
PCLN	Sell	PRICELINE GROUP INC/THE	$15,654,000	-2.3%	8,550	-0.2%	4.37%	-3.3%
FISV	Sell	FISERV INC	$14,017,000	+1.2%	108,693	-4.0%	3.91%	+0.2%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$13,406,000	+5.3%	70,855	-2.9%	3.74%	+4.3%
SYK	Sell	STRYKER CORP	$12,865,000	-0.6%	90,585	-2.9%	3.59%	-1.6%
CHKP	Sell	CHECK POINT SOFTWARE TECH	$12,468,000	-3.6%	109,345	-7.8%	3.48%	-4.6%
GOOGL	Buy	ALPHABET INC-CL A	$12,315,000	+6.1%	12,647	+1.3%	3.44%	+5.0%
GILD	Buy	GILEAD SCIENCES INC	$11,874,000	+16.3%	146,561	+1.6%	3.32%	+15.1%
MMM	Sell	3M CO	$11,518,000	+0.5%	54,873	-0.3%	3.22%	-0.5%
VRSK	Sell	VERISK ANALYTICS INC	$11,371,000	-3.5%	136,687	-2.1%	3.18%	-4.5%
AXP	Buy	AMERICAN EXPRESS CO	$11,345,000	+9.4%	125,419	+1.9%	3.17%	+8.3%
BRKB	Sell	BERKSHIRE HATHAWAY INC-CL B	$11,258,000	-19.7%	61,414	-25.8%	3.14%	-20.5%
BAC	New	BANK OF AMERICA CORP	$11,087,000	–	437,525	–	3.10%	–
JNJ	Sell	JOHNSON & JOHNSON	$11,079,000	-3.3%	85,217	-1.6%	3.09%	-4.3%
ACN	Buy	ACCENTURE PLC-CL A	$10,966,000	+24.7%	81,187	+14.2%	3.06%	+23.5%
DIS	Sell	WALT DISNEY CO/THE	$10,872,000	-7.5%	110,295	-0.3%	3.04%	-8.5%
GD	Sell	GENERAL DYNAMICS CORP	$10,837,000	+3.3%	52,716	-0.5%	3.03%	+2.2%
PG	Buy	PROCTER & GAMBLE CO/THE	$10,816,000	+4.6%	118,878	+0.2%	3.02%	+3.6%
CL	Sell	COLGATE-PALMOLIVE CO	$10,555,000	-2.0%	144,892	-0.3%	2.95%	-3.0%
SWKS	Buy	SKYWORKS SOLUTIONS INC	$10,507,000	+8.9%	103,108	+2.5%	2.93%	+7.8%
OMC	Buy	OMNICOM GROUP	$10,497,000	-9.6%	141,718	+1.2%	2.93%	-10.5%
XOM	Buy	EXXON MOBIL CORP	$9,785,000	+2.8%	119,354	+1.3%	2.73%	+1.8%
UTX	Buy	UNITED TECHNOLOGIES CORP	$9,765,000	-2.8%	84,127	+2.3%	2.73%	-3.8%
SAP	Sell	SAP SE SPONS ADRadr	$9,280,000	-15.9%	84,631	-19.7%	2.59%	-16.8%
TM	Sell	TOYOTA MTR CORP SPONSORED ADRadr	$8,686,000	-10.0%	72,890	-20.7%	2.42%	-10.9%
TRV	Sell	TRAVELERS COS INC/THE	$5,193,000	-49.7%	42,381	-48.0%	1.45%	-50.2%
GOOG	New	ALPHABET INC-CL C	$2,825,000	–	2,946	–	0.79%	–
UL	New	UNILEVER PLC SPONSORED ADR NEWadr	$212,000	–	3,652	–	0.06%	–
TXN	New	TEXAS INSTRUMENTS INC	$206,000	–	2,300	–	0.06%	–
ORCL	Sell	ORACLE CORPORATION	$201,000	-98.1%	4,154	-98.1%	0.06%	-98.2%
CB	Exit	CHUBB LTD	$0	–	-4,146	–	-0.17%	–

Q2 2017

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$19,167,000	–	133,088	–	5.41%	–
MA	New	MASTERCARD INC - A	$18,726,000	–	154,189	–	5.28%	–
PCLN	New	PRICELINE GROUP INC/THE	$16,027,000	–	8,568	–	4.52%	–
MSCI	New	MSCI INC	$14,803,000	–	143,737	–	4.18%	–
CELG	New	CELGENE CORP	$14,715,000	–	113,304	–	4.15%	–
BRKB	New	BERKSHIRE HATHAWAY INC-CL B	$14,016,000	–	82,756	–	3.95%	–
FISV	New	FISERV INC	$13,847,000	–	113,185	–	3.91%	–
SYK	New	STRYKER CORP	$12,941,000	–	93,247	–	3.65%	–
CHKP	New	CHECK POINT SOFTWARE TECH	$12,935,000	–	118,581	–	3.65%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$12,728,000	–	72,951	–	3.59%	–
VRSK	New	VERISK ANALYTICS INC	$11,780,000	–	139,619	–	3.32%	–
DIS	New	WALT DISNEY CO/THE	$11,757,000	–	110,653	–	3.32%	–
GOOGL	New	ALPHABET INC-CL A	$11,611,000	–	12,489	–	3.28%	–
OMC	New	OMNICOM GROUP	$11,608,000	–	140,028	–	3.27%	–
JNJ	New	JOHNSON & JOHNSON	$11,458,000	–	86,614	–	3.23%	–
MMM	New	3M CO	$11,456,000	–	55,025	–	3.23%	–
SAP	New	SAP SE SPONS ADRadr	$11,038,000	–	105,451	–	3.11%	–
ORCL	New	ORACLE CORP	$10,850,000	–	216,388	–	3.06%	–
CL	New	COLGATE-PALMOLIVE CO	$10,774,000	–	145,335	–	3.04%	–
GD	New	GENERAL DYNAMICS CORP	$10,492,000	–	52,962	–	2.96%	–
AXP	New	AMERICAN EXPRESS CO	$10,366,000	–	123,053	–	2.92%	–
PG	New	PROCTER & GAMBLE CO/THE	$10,338,000	–	118,621	–	2.92%	–
TRV	New	TRAVELERS COS INC/THE	$10,315,000	–	81,526	–	2.91%	–
GILD	New	GILEAD SCIENCES INC	$10,211,000	–	144,265	–	2.88%	–
UTX	New	UNITED TECHNOLOGIES CORP	$10,046,000	–	82,266	–	2.83%	–
TM	New	TOYOTA MTR CORP SPONSORED ADRadr	$9,649,000	–	91,880	–	2.72%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$9,651,000	–	100,588	–	2.72%	–
XOM	New	EXXON MOBIL CORP	$9,515,000	–	117,864	–	2.68%	–
ACN	New	ACCENTURE PLC-CL A	$8,792,000	–	71,085	–	2.48%	–
INFO	New	IHS MARKIT LTD	$729,000	–	16,550	–	0.21%	–
MDT	New	MEDTRONIC PLC	$606,000	–	6,831	–	0.17%	–
CB	New	CHUBB LTD	$603,000	–	4,146	–	0.17%	–
ST	New	SENSATA TECHNOLOGIES HOLDING N	$506,000	–	11,844	–	0.14%	–
KMB	New	KIMBERLY-CLARK CORP	$443,000	–	3,435	–	0.12%	–

Q4 2016

			Value		Shares		↓ Weighting
CAJ	Exit	CANON INC SPONSORED ADRadr	$0	–	-215,564	–	-1.03%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-8,156	–	-1.04%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTD	$0	–	-97,931	–	-1.25%	–
SAP	Exit	SAP SE SPONS ADRadr	$0	–	-87,686	–	-1.32%	–
ST	Exit	SENSATA TECHNOLOGIES HOLDING N	$0	–	-214,010	–	-1.37%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-120,125	–	-1.56%	–
CB	Exit	CHUBB LTD	$0	–	-84,447	–	-1.75%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-123,341	–	-1.76%	–
NXPI	Exit	NXP SEMICONDUCTORS NV	$0	–	-120,208	–	-2.02%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-329,538	–	-2.04%	–
VFC	Exit	VF CORP	$0	–	-253,460	–	-2.34%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-143,869	–	-2.41%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-235,488	–	-2.48%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-171,824	–	-2.52%	–
ORCL	Exit	ORACLE CORP	$0	–	-390,249	–	-2.52%	–
TRV	Exit	TRAVELERS COS INC/THE	$0	–	-141,055	–	-2.66%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-213,606	–	-2.68%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-197,601	–	-2.84%	–
MMM	Exit	3M CO	$0	–	-100,397	–	-2.91%	–
GOOGL	Exit	ALPHABET INC-CL A	$0	–	-23,073	–	-3.06%	–
CL	Exit	COLGATE-PALMOLIVE CO	$0	–	-251,409	–	-3.07%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-238,201	–	-3.10%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-160,630	–	-3.12%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-234,366	–	-3.14%	–
PG	Exit	PROCTER & GAMBLE CO/THE	$0	–	-216,161	–	-3.20%	–
OMC	Exit	OMNICOM GROUP	$0	–	-235,782	–	-3.30%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC-CL B	$0	–	-146,902	–	-3.50%	–
CELG	Exit	CELGENE CORP	$0	–	-207,602	–	-3.57%	–
SYK	Exit	STRYKER CORP	$0	–	-187,586	–	-3.60%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-139,545	–	-3.66%	–
FISV	Exit	FISERV INC	$0	–	-226,722	–	-3.72%	–
MSCI	Exit	MSCI INC	$0	–	-274,803	–	-3.80%	–
PCLN	Exit	PRICELINE GROUP INC/THE	$0	–	-16,454	–	-3.99%	–
ACN	Exit	ACCENTURE PLC-CL A	$0	–	-200,547	–	-4.04%	–
AAPL	Exit	APPLE INC	$0	–	-257,650	–	-4.80%	–
MA	Exit	MASTERCARD INC	$0	–	-289,475	–	-4.85%	–

Q3 2016

			Value		Shares		↓ Weighting
MA	Sell	MASTERCARD INC	$29,460,000	+9.6%	289,475	-5.2%	4.85%	+8.2%
AAPL	Sell	APPLE INC	$29,127,000	+13.9%	257,650	-3.7%	4.80%	+12.4%
ACN	Buy	ACCENTURE PLC-CL A	$24,501,000	+12.2%	200,547	+4.1%	4.04%	+10.8%
PCLN	Sell	PRICELINE GROUP INC/THE	$24,212,000	+13.7%	16,454	-3.5%	3.99%	+12.3%
MSCI	Sell	MSCI INC	$23,067,000	-11.6%	274,803	-18.8%	3.80%	-12.7%
FISV	Buy	FISERV INC	$22,552,000	-8.1%	226,722	+0.5%	3.72%	-9.2%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$22,196,000	+6.5%	139,545	-1.1%	3.66%	+5.1%
SYK	Sell	STRYKER CORP	$21,837,000	-3.2%	187,586	-0.4%	3.60%	-4.5%
CELG	Sell	CELGENE CORP	$21,701,000	+2.1%	207,602	-3.7%	3.57%	+0.8%
BRKB	Sell	BERKSHIRE HATHAWAY INC-CL B	$21,223,000	-2.3%	146,902	-2.1%	3.50%	-3.6%
OMC	Sell	OMNICOM GROUP	$20,041,000	-0.7%	235,782	-4.8%	3.30%	-2.0%
PG	Sell	PROCTER & GAMBLE CO/THE	$19,400,000	-1.7%	216,161	-7.3%	3.20%	-3.0%
VRSK	Sell	VERISK ANALYTICS INC	$19,049,000	-3.6%	234,366	-3.8%	3.14%	-4.8%
JNJ	Sell	JOHNSON & JOHNSON	$18,975,000	-3.7%	160,630	-1.1%	3.12%	-4.9%
GILD	Buy	GILEAD SCIENCES INC	$18,846,000	-3.5%	238,201	+1.7%	3.10%	-4.8%
CL	Sell	COLGATE-PALMOLIVE CO	$18,639,000	-6.9%	251,409	-8.0%	3.07%	-8.1%
GOOGL	Buy	ALPHABET INC-CL A	$18,552,000	+16.2%	23,073	+1.7%	3.06%	+14.7%
MMM	Sell	3M CO	$17,693,000	-6.3%	100,397	-6.9%	2.91%	-7.6%
XOM	Sell	EXXON MOBIL CORP	$17,247,000	-12.7%	197,601	-6.2%	2.84%	-13.8%
SWKS	Buy	SKYWORKS SOLUTIONS INC	$16,264,000	+22.2%	213,606	+1.6%	2.68%	+20.6%
TRV	Sell	TRAVELERS COS INC/THE	$16,158,000	-13.6%	141,055	-10.2%	2.66%	-14.7%
ORCL	Buy	ORACLE CORP	$15,329,000	-2.9%	390,249	+1.2%	2.52%	-4.2%
CVS	Buy	CVS HEALTH CORP	$15,291,000	+8.9%	171,824	+17.2%	2.52%	+7.6%
AXP	Buy	AMERICAN EXPRESS CO	$15,081,000	+10.9%	235,488	+5.2%	2.48%	+9.5%
UTX	Sell	UNITED TECHNOLOGIES CORP	$14,617,000	-4.0%	143,869	-3.1%	2.41%	-5.2%
VFC	Sell	VF CORP	$14,206,000	-11.7%	253,460	-3.1%	2.34%	-12.8%
INFO	New	IHS MARKIT LTD	$12,374,000	–	329,538	–	2.04%	–
NXPI	Buy	NXP SEMICONDUCTORS NV	$12,262,000	+46.2%	120,208	+12.3%	2.02%	+44.3%
MDT	Buy	MEDTRONIC PLC	$10,657,000	+4.1%	123,341	+4.6%	1.76%	+2.8%
CB	Buy	CHUBB LTD	$10,611,000	-0.7%	84,447	+3.3%	1.75%	-2.0%
SLB	Buy	SCHLUMBERGER LTD	$9,447,000	+10.4%	120,125	+11.0%	1.56%	+9.0%
ST	Buy	SENSATA TECHNOLOGIES HOLDING N	$8,299,000	+25.5%	214,010	+12.9%	1.37%	+23.9%
SAP	Buy	SAP SE SPONS ADRadr	$8,015,000	+39.9%	87,686	+14.8%	1.32%	+38.1%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTD	$7,600,000	+66.5%	97,931	+70.9%	1.25%	+64.3%
GOOG	Sell	ALPHABET INC-CL C	$6,339,000	-7.3%	8,156	-17.4%	1.04%	-8.5%
CAJ	Buy	CANON INC SPONSORED ADRadr	$6,258,000	+17.0%	215,564	+15.3%	1.03%	+15.5%
VOD	Exit	VODAFONE GROUP PLCadr	$0	–	-8,028	–	-0.04%	–
NVO	Exit	NOVO NORDISK AS SPONSORED ADRadr	$0	–	-4,895	–	-0.04%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-3,605	–	-0.08%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-226,690	–	-1.49%	–
MRKT	Exit	MARKIT LTD	$0	–	-293,048	–	-1.59%	–

Q2 2016

			Value		Shares		↓ Weighting
MA	New	MASTERCARD INC-CLASS A	$26,886,000	–	305,317	–	4.49%	–
MSCI	New	MSCI INC	$26,088,000	–	338,275	–	4.35%	–
AAPL	New	APPLE INC	$25,577,000	–	267,546	–	4.27%	–
FISV	New	FISERV INC	$24,532,000	–	225,624	–	4.09%	–
SYK	New	STRYKER CORP	$22,570,000	–	188,353	–	3.77%	–
ACN	New	ACCENTURE PLC-CL A	$21,830,000	–	192,687	–	3.64%	–
BRKB	New	BERKSHIRE HATHAWAY INC-CL B	$21,728,000	–	150,065	–	3.62%	–
PCLN	New	PRICELINE GROUP INC/THE	$21,287,000	–	17,051	–	3.55%	–
CELG	New	CELGENE CORP	$21,254,000	–	215,491	–	3.55%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$20,840,000	–	141,040	–	3.48%	–
OMC	New	OMNICOM GROUP	$20,192,000	–	247,787	–	3.37%	–
CL	New	COLGATE-PALMOLIVE CO	$20,010,000	–	273,356	–	3.34%	–
XOM	New	EXXON MOBIL CORP	$19,758,000	–	210,771	–	3.30%	–
VRSK	New	VERISK ANALYTICS INC	$19,752,000	–	243,616	–	3.30%	–
PG	New	PROCTER & GAMBLE CO/THE	$19,742,000	–	233,160	–	3.29%	–
JNJ	New	JOHNSON & JOHNSON	$19,702,000	–	162,420	–	3.29%	–
GILD	New	GILEAD SCIENCES INC	$19,538,000	–	234,218	–	3.26%	–
MMM	New	3M CO	$18,889,000	–	107,863	–	3.15%	–
TRV	New	TRAVELERS COS INC/THE	$18,693,000	–	157,034	–	3.12%	–
VFC	New	VF CORP	$16,091,000	–	261,686	–	2.68%	–
GOOGL	New	ALPHABET INC-CL A	$15,966,000	–	22,694	–	2.66%	–
ORCL	New	ORACLE CORP	$15,791,000	–	385,797	–	2.64%	–
UTX	New	UNITED TECHNOLOGIES CORP	$15,223,000	–	148,443	–	2.54%	–
CVS	New	CVS HEALTH CORP	$14,036,000	–	146,601	–	2.34%	–
AXP	New	AMERICAN EXPRESS CO	$13,597,000	–	223,774	–	2.27%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$13,308,000	–	210,297	–	2.22%	–
CB	New	CHUBB LTD	$10,684,000	–	81,742	–	1.78%	–
MDT	New	MEDTRONIC PLC	$10,236,000	–	117,971	–	1.71%	–
MRKT	New	MARKIT LTD	$9,553,000	–	293,048	–	1.59%	–
ABT	New	ABBOTT LABORATORIES	$8,911,000	–	226,690	–	1.49%	–
SLB	New	SCHLUMBERGER LTD	$8,555,000	–	108,185	–	1.43%	–
NXPI	New	NXP SEMICONDUCTORS NV	$8,389,000	–	107,088	–	1.40%	–
GOOG	New	ALPHABET INC-CL C	$6,838,000	–	9,880	–	1.14%	–
ST	New	SENSATA TECHNOLOGIES HOLDING N	$6,611,000	–	189,490	–	1.10%	–
SAP	New	SAP SE SPONS ADRadr	$5,731,000	–	76,396	–	0.96%	–
CAJ	New	CANON INC SPONSORED ADRadr	$5,351,000	–	187,039	–	0.89%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTD	$4,565,000	–	57,296	–	0.76%	–
KMB	New	KIMBERLY-CLARK CORP	$496,000	–	3,605	–	0.08%	–
NVO	New	NOVO NORDISK AS SPONSORED ADRadr	$263,000	–	4,895	–	0.04%	–
VOD	New	VODAFONE GROUP PLCadr	$248,000	–	8,028	–	0.04%	–

Q4 2015

			Value		Shares		↓ Weighting
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-3,955	–	-0.07%	–
PX	Exit	PRAXAIR INC	$0	–	-4,285	–	-0.07%	–
SNI	Exit	SCRIPPS NETWORKS INTERACTIVE I	$0	–	-10,800	–	-0.09%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-16,480	–	-0.12%	–
ALL	Exit	ALLSTATE CORP COM	$0	–	-14,100	–	-0.13%	–
CB	Exit	CHUBB CORP COM	$0	–	-7,600	–	-0.15%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-9,984	–	-0.16%	–
CMCSA	Exit	COMCAST CORP CL A	$0	–	-19,506	–	-0.18%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-57,457	–	-0.62%	–
ST	Exit	SENSATA TECHNOLOGIES HOLDING N	$0	–	-92,789	–	-0.66%	–
MRKT	Exit	MARKIT LTD	$0	–	-152,555	–	-0.71%	–
ACE	Exit	ACE LTD	$0	–	-42,941	–	-0.72%	–
NXPI	Exit	NXP SEMICONDUCTORS NV	$0	–	-52,951	–	-0.74%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-81,045	–	-0.90%	–
TRN	Exit	TRINITY INDUSTRIES INC	$0	–	-368,766	–	-1.35%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-13,840	–	-1.36%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-254,512	–	-1.94%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-351,127	–	-2.28%	–
CSX	Exit	CSX CORP	$0	–	-566,350	–	-2.46%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-174,487	–	-2.50%	–
ABC	Exit	AMERISOURCEBERGEN CORP.	$0	–	-169,285	–	-2.59%	–
MMM	Exit	3M CO	$0	–	-125,844	–	-2.88%	–
EV	Exit	EATON VANCE CORP	$0	–	-534,371	–	-2.88%	–
GOOGL	Exit	ALPHABET INC-CL A	$0	–	-28,360	–	-2.92%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-244,471	–	-2.92%	–
ORCL	Exit	ORACLE CORP	$0	–	-514,459	–	-3.00%	–
ACN	Exit	ACCENTURE PLC-CL A	$0	–	-189,540	–	-3.00%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-200,723	–	-3.02%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-253,367	–	-3.04%	–
OMC	Exit	OMNICOM GROUP	$0	–	-296,970	–	-3.16%	–
PG	Exit	PROCTER & GAMBLE CO/THE	$0	–	-281,596	–	-3.27%	–
CL	Exit	COLGATE-PALMOLIVE CO	$0	–	-330,506	–	-3.38%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-294,880	–	-3.52%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-182,920	–	-3.61%	–
SYK	Exit	STRYKER CORP	$0	–	-239,476	–	-3.64%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC-CL B	$0	–	-182,144	–	-3.83%	–
PCLN	Exit	PRICELINE GROUP INC/THE	$0	–	-19,227	–	-3.84%	–
FISV	Exit	FISERV INC	$0	–	-286,289	–	-4.00%	–
MSCI	Exit	MSCI INC	$0	–	-417,194	–	-4.00%	–
CELG	Exit	CELGENE CORP	$0	–	-258,670	–	-4.51%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-290,918	–	-4.61%	–
MA	Exit	MASTERCARD INC-CLASS A	$0	–	-373,217	–	-5.43%	–
AAPL	Exit	APPLE INC	$0	–	-323,319	–	-5.75%	–

Q3 2015

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$35,662,000	-14.2%	323,319	-2.5%	5.75%	-3.4%
MA	Sell	MASTERCARD INC-CLASS A	$33,634,000	-7.7%	373,217	-4.3%	5.43%	+3.9%
GILD	Sell	GILEAD SCIENCES INC	$28,565,000	-23.9%	290,918	-9.3%	4.61%	-14.3%
CELG	Sell	CELGENE CORP	$27,980,000	-17.5%	258,670	-11.7%	4.51%	-7.1%
MSCI	Sell	MSCI INC	$24,806,000	-6.5%	417,194	-3.3%	4.00%	+5.2%
FISV	Sell	FISERV INC	$24,795,000	-0.7%	286,289	-5.1%	4.00%	+11.8%
PCLN	Buy	PRICELINE GROUP INC/THE	$23,781,000	+8.5%	19,227	+1.0%	3.84%	+22.1%
BRKB	Sell	BERKSHIRE HATHAWAY INC-CL B	$23,752,000	-8.4%	182,144	-4.4%	3.83%	+3.2%
SYK	Sell	STRYKER CORP	$22,535,000	-7.0%	239,476	-5.6%	3.64%	+4.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$22,367,000	-10.7%	182,920	-5.3%	3.61%	+0.5%
VRSK	Buy	VERISK ANALYTICS INC	$21,795,000	+4.1%	294,880	+2.5%	3.52%	+17.3%
CL	Sell	COLGATE-PALMOLIVE CO	$20,974,000	-7.1%	330,506	-4.3%	3.38%	+4.5%
PG	Sell	PROCTER & GAMBLE CO/THE	$20,258,000	-12.2%	281,596	-4.5%	3.27%	-1.1%
OMC	Sell	OMNICOM GROUP	$19,570,000	-9.7%	296,970	-4.8%	3.16%	+1.7%
XOM	Sell	EXXON MOBIL CORP	$18,838,000	-15.0%	253,367	-4.9%	3.04%	-4.3%
JNJ	Sell	JOHNSON & JOHNSON	$18,737,000	-9.3%	200,723	-5.3%	3.02%	+2.2%
ACN	Buy	ACCENTURE PLC-CL A	$18,624,000	+2.4%	189,540	+0.9%	3.00%	+15.3%
ORCL	Sell	ORACLE CORP	$18,582,000	-14.6%	514,459	-4.7%	3.00%	-3.9%
AXP	Sell	AMERICAN EXPRESS CO	$18,123,000	-9.3%	244,471	-4.9%	2.92%	+2.1%
GOOGL	New	ALPHABET INC-CL A	$18,104,000	–	28,360	–	2.92%	–
EV	Sell	EATON VANCE CORP	$17,859,000	-18.8%	534,371	-4.9%	2.88%	-8.6%
MMM	Sell	3M CO	$17,841,000	-13.6%	125,844	-6.0%	2.88%	-2.7%
ABC	New	AMERISOURCEBERGEN CORP.	$16,080,000	–	169,285	–	2.59%	–
UTX	Sell	UNITED TECHNOLOGIES CORP	$15,528,000	-23.6%	174,487	-4.7%	2.50%	-13.9%
CSX	Sell	CSX CORP	$15,235,000	-21.7%	566,350	-5.0%	2.46%	-11.8%
ABT	Sell	ABBOTT LABORATORIES	$14,122,000	-23.4%	351,127	-6.6%	2.28%	-13.8%
HP	Sell	HELMERICH & PAYNE	$12,028,000	-35.9%	254,512	-4.5%	1.94%	-27.9%
GOOG	New	ALPHABET INC-CL C	$8,420,000	–	13,840	–	1.36%	–
TRN	Sell	TRINITY INDUSTRIES INC	$8,360,000	-18.6%	368,766	-5.1%	1.35%	-8.3%
SLB	Sell	SCHLUMBERGER LTD	$5,590,000	-20.0%	81,045	-0.0%	0.90%	-9.9%
NXPI	Buy	NXP SEMICONDUCTORS NV	$4,610,000	-11.3%	52,951	+0.0%	0.74%	-0.1%
ACE	Buy	ACE LTD	$4,440,000	+14.9%	42,941	+13.0%	0.72%	+29.5%
MRKT	Buy	MARKIT LTD	$4,424,000	+40.0%	152,555	+23.4%	0.71%	+57.6%
ST	Buy	SENSATA TECHNOLOGIES HOLDING N	$4,114,000	-15.8%	92,789	+0.1%	0.66%	-5.1%
CMCSA	Buy	COMCAST CORP CL A	$1,110,000	-4.9%	19,506	+0.5%	0.18%	+7.2%
CVS	Buy	CVS HEALTH CORP	$963,000	-7.8%	9,984	+0.3%	0.16%	+3.3%
VZ	Buy	VERIZON COMMUNICATIONS	$717,000	-6.2%	16,480	+0.5%	0.12%	+6.4%
KMB	Sell	KIMBERLY-CLARK CORP	$431,000	+1.9%	3,955	-1.0%	0.07%	+14.8%
PX	Sell	PRAXAIR INC	$436,000	-15.2%	4,285	-0.3%	0.07%	-5.4%
NOV	Exit	NATIONAL OILWELL VARCO	$0	–	-6,635	–	-0.05%	–
GOOG	Exit	GOOGLE INC CL C	$0	–	-15,411	–	-1.15%	–
GOOGL	Exit	GOOGLE INC	$0	–	-29,210	–	-2.26%	–
VAR	Exit	VARIAN MEDICAL SYSTEMS INC	$0	–	-240,160	–	-2.90%	–

Q2 2015

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$41,587,000	–	331,570	–	5.96%	–
GILD	New	GILEAD SCIENCES INC COM	$37,549,000	–	320,712	–	5.38%	–
MA	New	MASTERCARD INC-CLASS A	$36,450,000	–	389,919	–	5.22%	–
CELG	New	CELGENE CORP	$33,906,000	–	292,961	–	4.86%	–
MSCI	New	MSCI INC CLASS A	$26,544,000	–	431,265	–	3.80%	–
BRKB	New	BERKSHIRE HATHAWAY INC	$25,921,000	–	190,445	–	3.71%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$25,054,000	–	193,083	–	3.59%	–
FISV	New	FISERV INC	$24,981,000	–	301,595	–	3.58%	–
SYK	New	STRYKER CORP	$24,239,000	–	253,625	–	3.47%	–
PG	New	PROCTER AND GAMBLE CO	$23,071,000	–	294,873	–	3.30%	–
CL	New	COLGATE PALMOLIVE CO	$22,586,000	–	345,297	–	3.24%	–
XOM	New	EXXON MOBIL CORP COM	$22,164,000	–	266,392	–	3.18%	–
EV	New	EATON VANCE CORP COM NON VTG	$21,996,000	–	562,132	–	3.15%	–
PCLN	New	PRICELINE GROUP INC/THE	$21,926,000	–	19,043	–	3.14%	–
ORCL	New	ORACLE CORP	$21,766,000	–	540,098	–	3.12%	–
OMC	New	OMNICOM GROUP INC	$21,672,000	–	311,868	–	3.10%	–
VRSK	New	VERISK ANALYTICS INC	$20,929,000	–	287,643	–	3.00%	–
MMM	New	3M CO	$20,646,000	–	133,807	–	2.96%	–
JNJ	New	JOHNSON AND JOHNSON CO	$20,651,000	–	211,897	–	2.96%	–
UTX	New	UNITED TECHNOLOGIES CORP	$20,316,000	–	183,142	–	2.91%	–
VAR	New	VARIAN MEDICAL SYSTEMS INC	$20,253,000	–	240,160	–	2.90%	–
AXP	New	AMERICAN EXPRESS CO	$19,983,000	–	257,117	–	2.86%	–
CSX	New	CSX CORP	$19,457,000	–	595,926	–	2.79%	–
HP	New	HELMERICH AND PAYNE INC	$18,777,000	–	266,642	–	2.69%	–
ABT	New	ABBOTT LABORATORIES	$18,441,000	–	375,740	–	2.64%	–
ACN	New	ACCENTURE PLC	$18,183,000	–	187,883	–	2.60%	–
GOOGL	New	GOOGLE INC	$15,775,000	–	29,210	–	2.26%	–
TRN	New	TRINITY INDUSTRIES INC	$10,269,000	–	388,522	–	1.47%	–
GOOG	New	GOOGLE INC CL C	$8,021,000	–	15,411	–	1.15%	–
SLB	New	SCHLUMBERGER LTD	$6,986,000	–	81,056	–	1.00%	–
NXPI	New	NXP SEMICONDUCTORS NV	$5,197,000	–	52,927	–	0.74%	–
ST	New	SENSATA TECHNOLOGIES HOLDING N	$4,888,000	–	92,673	–	0.70%	–
MDT	New	MEDTRONIC PLC	$4,258,000	–	57,457	–	0.61%	–
ACE	New	ACE LTD	$3,863,000	–	37,991	–	0.55%	–
MRKT	New	MARKIT LTD	$3,161,000	–	123,605	–	0.45%	–
CMCSA	New	COMCAST CORP CL A	$1,167,000	–	19,400	–	0.17%	–
CVS	New	CVS HEALTH CORP	$1,044,000	–	9,950	–	0.15%	–
ALL	New	ALLSTATE CORP COM	$915,000	–	14,100	–	0.13%	–
VZ	New	VERIZON COMMUNICATIONS	$764,000	–	16,399	–	0.11%	–
CB	New	CHUBB CORP COM	$723,000	–	7,600	–	0.10%	–
SNI	New	SCRIPPS NETWORKS INTERACTIVE I	$706,000	–	10,800	–	0.10%	–
PX	New	PRAXAIR INC	$514,000	–	4,300	–	0.07%	–
KMB	New	KIMBERLY CLARK CORP	$423,000	–	3,995	–	0.06%	–
NOV	New	NATIONAL OILWELL VARCO	$320,000	–	6,635	–	0.05%	–

Q4 2014

			Value		Shares		↓ Weighting
AGN	Exit	ALLERGAN INC	$0	–	-1,205	–	-0.04%	–
NVO	Exit	NOVO NORDISK AS SPONSORED ADRadr	$0	–	-5,545	–	-0.05%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-4,230	–	-0.08%	–
PX	Exit	PRAXAIR INC	$0	–	-4,300	–	-0.10%	–
CB	Exit	CHUBB CORP COM	$0	–	-7,600	–	-0.12%	–
CVS	Exit	CVS HEALTH CORP COM	$0	–	-9,850	–	-0.14%	–
SNI	Exit	SCRIPPS NETWORKS INTERACTIVE I	$0	–	-10,800	–	-0.15%	–
	Exit	VERIZON COMMUNICATIONS INC	$0	–	-16,849	–	-0.15%	–
ALL	Exit	ALLSTATE CORP COM	$0	–	-14,100	–	-0.15%	–
EBAY	Exit	EBAY INC	$0	–	-16,850	–	-0.17%	–
CMCSA	Exit	COMCAST CORP NEW-CL A	$0	–	-19,400	–	-0.18%	–
RIG	Exit	TRANSOCEAN LTD	$0	–	-52,784	–	-0.30%	–
CBI	Exit	CHICAGO BRIDGE AND IRON CO NV	$0	–	-30,194	–	-0.31%	–
ACE	Exit	ACE LTD	$0	–	-22,378	–	-0.41%	–
ST	Exit	SENSATA TECHNOLOGIES HOLDING N	$0	–	-54,988	–	-0.43%	–
NXPI	Exit	NXP SEMICONDUCTORS NV	$0	–	-40,248	–	-0.49%	–
F113PS	Exit	COVIDIEN PLC	$0	–	-32,279	–	-0.49%	–
NSRGY	Exit	NESTLE SA-SPONS ADRadr	$0	–	-73,378	–	-0.95%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-33,637	–	-1.13%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-71,715	–	-1.29%	–
TRN	Exit	TRINITY INDUSTRIES INC	$0	–	-156,321	–	-1.29%	–
DVN	Exit	DEVON ENERGY CORP	$0	–	-150,128	–	-1.81%	–
GOOG	Exit	GOOGLE INC-CL C	$0	–	-18,246	–	-1.86%	–
GOOGL	Exit	GOOGLE INC-CL A	$0	–	-18,497	–	-1.92%	–
ACN	Exit	ACCENTURE PLC-CL A	$0	–	-135,061	–	-1.94%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-310,356	–	-2.28%	–
VRSK	Exit	VERISK ANALYTICS INC-CLASS A	$0	–	-229,778	–	-2.47%	–
CVX	Exit	CHEVRON CORP	$0	–	-121,351	–	-2.56%	–
CSX	Exit	CSX CORP	$0	–	-472,295	–	-2.67%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-144,302	–	-2.69%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-172,087	–	-2.86%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-214,146	–	-2.88%	–
CL	Exit	COLGATE-PALMOLIVE CO	$0	–	-254,801	–	-2.93%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-190,669	–	-2.95%	–
VAR	Exit	VARIAN MEDICAL SYSTEMS INC	$0	–	-208,675	–	-2.95%	–
PG	Exit	PROCTER & GAMBLE CO/THE	$0	–	-206,273	–	-3.05%	–
EV	Exit	EATON VANCE CORP	$0	–	-458,588	–	-3.06%	–
FISV	Exit	FISERV INC	$0	–	-272,023	–	-3.10%	–
OMC	Exit	OMNICOM GROUP	$0	–	-256,688	–	-3.12%	–
MMM	Exit	3M CO	$0	–	-124,903	–	-3.12%	–
SYK	Exit	STRYKER CORP	$0	–	-221,828	–	-3.16%	–
ORCL	Exit	ORACLE CORP	$0	–	-474,654	–	-3.21%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-184,433	–	-3.47%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-218,216	–	-3.77%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-179,949	–	-3.87%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC-CL B	$0	–	-162,968	–	-3.98%	–
MA	Exit	MASTERCARD INC-CLASS A	$0	–	-331,351	–	-4.32%	–
CELG	Exit	CELGENE CORP	$0	–	-274,089	–	-4.59%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-274,932	–	-5.17%	–
AAPL	Exit	APPLE INC	$0	–	-327,990	–	-5.83%	–

Q3 2014

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$33,045,000	+4.3%	327,990	-3.8%	5.83%	+2.6%
GILD	Sell	GILEAD SCIENCES INC	$29,267,000	+14.5%	274,932	-10.8%	5.17%	+12.7%
CELG	Sell	CELGENE CORP	$25,978,000	+6.6%	274,089	-3.5%	4.59%	+4.8%
MA	Sell	MASTERCARD INC-CLASS A	$24,493,000	-2.0%	331,351	-2.6%	4.32%	-3.6%
BRKB	Sell	BERKSHIRE HATHAWAY INC-CL B	$22,512,000	+6.4%	162,968	-2.5%	3.98%	+4.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$21,900,000	-2.3%	179,949	-5.2%	3.87%	-3.9%
HP	Sell	HELMERICH & PAYNE	$21,357,000	-22.0%	218,216	-7.5%	3.77%	-23.3%
JNJ	Sell	JOHNSON & JOHNSON	$19,659,000	-0.8%	184,433	-2.6%	3.47%	-2.4%
ORCL	Sell	ORACLE CORP	$18,170,000	-16.2%	474,654	-11.3%	3.21%	-17.6%
SYK	Sell	STRYKER CORP	$17,913,000	-7.1%	221,828	-3.0%	3.16%	-8.6%
MMM	Sell	3M CO	$17,696,000	-11.6%	124,903	-10.7%	3.12%	-13.1%
OMC	Sell	OMNICOM GROUP	$17,676,000	-5.8%	256,688	-2.6%	3.12%	-7.4%
FISV	Sell	FISERV INC	$17,582,000	-11.5%	272,023	-17.5%	3.10%	-13.0%
EV	Buy	EATON VANCE CORP	$17,303,000	+155.5%	458,588	+155.9%	3.06%	+151.4%
PG	Sell	PROCTER & GAMBLE CO/THE	$17,273,000	+5.7%	206,273	-0.8%	3.05%	+4.0%
VAR	Sell	VARIAN MEDICAL SYSTEMS INC	$16,719,000	-5.7%	208,675	-2.2%	2.95%	-7.3%
AXP	Sell	AMERICAN EXPRESS CO	$16,691,000	-11.5%	190,669	-4.1%	2.95%	-12.9%
CL	Sell	COLGATE-PALMOLIVE CO	$16,618,000	-6.0%	254,801	-1.8%	2.93%	-7.6%
NOV	Sell	NATIONAL OILWELL VARCO INC	$16,297,000	-15.0%	214,146	-8.0%	2.88%	-16.4%
XOM	Sell	EXXON MOBIL CORP	$16,185,000	-7.5%	172,087	-0.9%	2.86%	-9.0%
UTX	Sell	UNITED TECHNOLOGIES CORP	$15,238,000	-11.0%	144,302	-2.7%	2.69%	-12.5%
CSX	Buy	CSX CORP	$15,142,000	+1918.9%	472,295	+1841.2%	2.67%	+1880.0%
CVX	Sell	CHEVRON CORP	$14,480,000	-13.8%	121,351	-5.7%	2.56%	-15.3%
VRSK	Sell	VERISK ANALYTICS INC-CLASS A	$13,991,000	-0.5%	229,778	-1.9%	2.47%	-2.1%
ABT	Sell	ABBOTT LABORATORIES	$12,908,000	-3.2%	310,356	-4.8%	2.28%	-4.8%
ACN	Buy	ACCENTURE PLC-CL A	$10,983,000	+11.9%	135,061	+11.2%	1.94%	+10.0%
GOOGL	Sell	GOOGLE INC-CL A	$10,884,000	-2.1%	18,497	-2.7%	1.92%	-3.7%
GOOG	Sell	GOOGLE INC-CL C	$10,535,000	-2.8%	18,246	-3.2%	1.86%	-4.4%
DVN	Sell	DEVON ENERGY CORP	$10,236,000	-18.6%	150,128	-5.2%	1.81%	-19.9%
TRN	New	TRINITY INDUSTRIES INC	$7,303,000	–	156,321	–	1.29%	–
SLB	Buy	SCHLUMBERGER LTD	$7,293,000	+2.5%	71,715	+18.9%	1.29%	+0.9%
IBM	Sell	INTERNATIONAL BUSINESS MACHINE	$6,385,000	-38.0%	33,637	-40.8%	1.13%	-39.1%
NSRGY	New	NESTLE SA-SPONS ADRadr	$5,403,000	–	73,378	–	0.95%	–
F113PS	Buy	COVIDIEN PLC	$2,792,000	+69.1%	32,279	+76.3%	0.49%	+66.6%
NXPI	Buy	NXP SEMICONDUCTORS NV	$2,754,000	+98.1%	40,248	+91.6%	0.49%	+95.2%
ST	Buy	SENSATA TECHNOLOGIES HOLDING N	$2,449,000	+77.5%	54,988	+86.3%	0.43%	+74.2%
ACE	Buy	ACE LTD	$2,347,000	+105.3%	22,378	+103.0%	0.41%	+102.0%
CBI	Buy	CHICAGO BRIDGE AND IRON CO NV	$1,747,000	+64.2%	30,194	+93.5%	0.31%	+61.3%
RIG	Buy	TRANSOCEAN LTD	$1,688,000	+38.4%	52,784	+94.8%	0.30%	+36.1%
	New	VERIZON COMMUNICATIONS INC	$842,000	–	16,849	–	0.15%	–
PX	Sell	PRAXAIR INC	$555,000	-59.0%	4,300	-57.8%	0.10%	-59.7%
NVO	New	NOVO NORDISK AS SPONSORED ADRadr	$264,000	–	5,545	–	0.05%	–
AGN	Sell	ALLERGAN INC	$215,000	+3.4%	1,205	-2.0%	0.04%	+2.7%
UNP	Exit	UNION PACIFIC CORP	$0	–	-15,544	–	-0.28%	–
FCX	Exit	FREEPORT-MCMORAN INC COM	$0	–	-46,042	–	-0.30%	–
LH	Exit	LABORATORY CORP OF AMER HOLDIN	$0	–	-19,647	–	-0.36%	–
DNOW	Exit	NOW INC/DE	$0	–	-58,080	–	-0.38%	–

Q2 2014

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$31,693,000	–	341,040	–	5.69%	–
HP	New	HELMERICH & PAYNE	$27,396,000	–	235,945	–	4.92%	–
GILD	New	GILEAD SCIENCES INC	$25,550,000	–	308,160	–	4.59%	–
MA	New	MASTERCARD INC-CLASS Acl a	$24,999,000	–	340,268	–	4.49%	–
CELG	New	CELGENE CORP	$24,381,000	–	283,898	–	4.38%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$22,408,000	–	189,898	–	4.02%	–
ORCL	New	ORACLE CORP	$21,680,000	–	534,913	–	3.89%	–
BRKB	New	BERKSHIRE HATHAWAY INC-CL B	$21,159,000	–	167,187	–	3.80%	–
MMM	New	3M CO	$20,026,000	–	139,810	–	3.59%	–
FISV	New	FISERV INC	$19,877,000	–	329,532	–	3.57%	–
JNJ	New	JOHNSON & JOHNSON	$19,810,000	–	189,354	–	3.56%	–
SYK	New	STRYKER CORP	$19,280,000	–	228,654	–	3.46%	–
NOV	New	NATIONAL OILWELL VARCO INC	$19,164,000	–	232,719	–	3.44%	–
AXP	New	AMERICAN EXPRESS CO	$18,860,000	–	198,799	–	3.38%	–
OMC	New	OMNICOM GROUP	$18,769,000	–	263,532	–	3.37%	–
VAR	New	VARIAN MEDICAL SYSTEMS INC	$17,738,000	–	213,354	–	3.18%	–
CL	New	COLGATE-PALMOLIVE CO	$17,682,000	–	259,350	–	3.17%	–
XOM	New	EXXON MOBIL CORP	$17,490,000	–	173,719	–	3.14%	–
UTX	New	UNITED TECHNOLOGIES CORP	$17,125,000	–	148,330	–	3.07%	–
CVX	New	CHEVRON CORP	$16,804,000	–	128,715	–	3.02%	–
PG	New	PROCTER & GAMBLE CO/THE	$16,336,000	–	207,865	–	2.93%	–
VRSK	New	VERISK ANALYTICS INC-CLASS Acl a	$14,063,000	–	234,298	–	2.52%	–
ABT	New	ABBOTT LABORATORIES	$13,334,000	–	326,023	–	2.39%	–
DVN	New	DEVON ENERGY CORP	$12,571,000	–	158,319	–	2.26%	–
GOOGL	New	GOOGLE INC-CL A	$11,119,000	–	19,017	–	2.00%	–
GOOG	New	GOOGLE INC-CL C	$10,839,000	–	18,841	–	1.94%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$10,305,000	–	56,847	–	1.85%	–
ACN	New	ACCENTURE PLC-CL A	$9,819,000	–	121,465	–	1.76%	–
SLB	New	SCHLUMBERGER LTD	$7,112,000	–	60,294	–	1.28%	–
EV	New	EATON VANCE CORP COM NON VTG	$6,772,000	–	179,195	–	1.22%	–
DNOW	New	NOW INC/DE	$2,103,000	–	58,080	–	0.38%	–
LH	New	LABORATORY CORP OF AMER HOLDIN	$2,012,000	–	19,647	–	0.36%	–
FCX	New	FREEPORT-MCMORAN INC COM	$1,681,000	–	46,042	–	0.30%	–
F113PS	New	COVIDIEN PLC	$1,651,000	–	18,305	–	0.30%	–
UNP	New	UNION PACIFIC CORP	$1,551,000	–	15,544	–	0.28%	–
NXPI	New	NXP SEMICONDUCTORS NV	$1,390,000	–	21,010	–	0.25%	–
ST	New	SENSATA TECHNOLOGIES HOLDING N	$1,380,000	–	29,508	–	0.25%	–
PX	New	PRAXAIR INC	$1,355,000	–	10,200	–	0.24%	–
RIG	New	TRANSOCEAN LTD	$1,220,000	–	27,100	–	0.22%	–
ACE	New	ACE LTD	$1,143,000	–	11,025	–	0.20%	–
CBI	New	CHICAGO BRIDGE AND IRON CO NV	$1,064,000	–	15,605	–	0.19%	–
CMCSA	New	COMCAST CORP NEW-CL A	$1,041,000	–	19,400	–	0.19%	–
SNI	New	SCRIPPS NETWORKS INTERACTIVE I	$876,000	–	10,800	–	0.16%	–
EBAY	New	EBAY INC	$844,000	–	16,850	–	0.15%	–
ALL	New	ALLSTATE CORP COM	$828,000	–	14,100	–	0.15%	–
CSX	New	CSX CORP COM	$750,000	–	24,330	–	0.14%	–
CVS	New	CVS CAREMARK CORP COM STK	$742,000	–	9,850	–	0.13%	–
CB	New	CHUBB CORP COM	$700,000	–	7,600	–	0.13%	–
KMB	New	KIMBERLY CLARK CORP	$470,000	–	4,230	–	0.08%	–
AGN	New	ALLERGAN INC	$208,000	–	1,230	–	0.04%	–

Q4 2013

			Value		Shares		↓ Weighting
	Exit	ICTC GROUP INC FRAC SHS	$0	–	-66,000	–	0.00%	–
	Exit	BOC HONG KONG HOLDINGS LTD (HK	$0	–	-10,000	–	-0.01%	–
	Exit	SINGAPORE TELECOMMUNICATIONS (	$0	–	-14,000	–	-0.01%	–
	Exit	NESTLE SA (CHF)	$0	–	-3,475	–	-0.05%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,855	–	-0.10%	–
PX	Exit	PRAXAIR INC	$0	–	-6,600	–	-0.17%	–
EBAY	Exit	EBAY INC	$0	–	-17,200	–	-0.21%	–
DRI	Exit	DARDEN RESTAURANTS INC COMMON	$0	–	-21,700	–	-0.22%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-22,081	–	-0.22%	–
PPL	Exit	PPL CORPORATION COMMON STOCK U	$0	–	-34,850	–	-0.23%	–
CB	Exit	CHUBB CORP COMMON STOCK USD1.	$0	–	-13,100	–	-0.25%	–
UNP	Exit	UNION PACIFIC CORP COMMON STOC	$0	–	-7,715	–	-0.26%	–
CVS	Exit	CVS CAREMARK CORP COMMON STOCK	$0	–	-21,200	–	-0.26%	–
ALL	Exit	ALLSTATE CORP COMMON STOCK USD	$0	–	-24,200	–	-0.27%	–
CMCSA	Exit	COMCAST CORP CLASS A COMMON ST	$0	–	-33,900	–	-0.33%	–
LIFE	Exit	LIFE TECHNOLOGIES CORP	$0	–	-22,801	–	-0.37%	–
FCX	Exit	FREEPORT-MCMORAN COPPER & GOLD	$0	–	-78,182	–	-0.56%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-47,705	–	-0.92%	–
NSRGY	Exit	NESTLE S A SPONSORED ADR REPSTadr	$0	–	-68,920	–	-1.04%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-78,054	–	-1.68%	–
ACN	Exit	ACCENTURE PLC	$0	–	-107,433	–	-1.72%	–
DVN	Exit	DEVON ENERGY CORP NEW COM	$0	–	-151,275	–	-1.90%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-50,645	–	-2.04%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-297,071	–	-2.14%	–
CVX	Exit	CHEVRON CORP COM	$0	–	-114,930	–	-3.03%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-163,382	–	-3.05%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-218,549	–	-3.08%	–
PG	Exit	PROCTER & GAMBLE COM NPV	$0	–	-192,938	–	-3.17%	–
CL	Exit	COLGATE-PALMOLIVE CO COM	$0	–	-249,750	–	-3.22%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-197,005	–	-3.23%	–
SYK	Exit	STRYKER CORP	$0	–	-227,604	–	-3.34%	–
UTX	Exit	UNITED TECHNOLOGIES CORP COM	$0	–	-146,522	–	-3.43%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-212,996	–	-3.46%	–
JNJ	Exit	JOHNSON & JOHNSON COM USD1	$0	–	-183,762	–	-3.46%	–
OMC	Exit	OMNICOM GROUP INC COM	$0	–	-257,170	–	-3.54%	–
GOOGL	Exit	GOOGLE INC CL A	$0	–	-18,902	–	-3.60%	–
HP	Exit	HELMERICH & PAYNE INC COM	$0	–	-240,659	–	-3.60%	–
MMM	Exit	3M CO COM	$0	–	-139,162	–	-3.61%	–
FISV	Exit	FISERV INC COM	$0	–	-169,552	–	-3.72%	–
NOV	Exit	NATIONAL OILWELL VARCO COM STK	$0	–	-219,621	–	-3.73%	–
ORCL	Exit	ORACLE CORP	$0	–	-517,615	–	-3.73%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC	$0	–	-159,068	–	-3.92%	–
TMO	Exit	THERMO FISHER CORP	$0	–	-196,532	–	-3.93%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-303,784	–	-4.15%	–
CELG	Exit	CELGENE CORP	$0	–	-142,113	–	-4.75%	–
AAPL	Exit	APPLE INC	$0	–	-49,284	–	-5.10%	–
MA	Exit	MASTERCARD INC-CLASS A	$0	–	-35,402	–	-5.17%	–

Q3 2013

			Value		Shares		↓ Weighting
MA	Sell	MASTERCARD INC-CLASS A	$23,818,000	+12.0%	35,402	-4.4%	5.17%	+2.9%
AAPL	Buy	APPLE INC	$23,496,000	+20.5%	49,284	+0.1%	5.10%	+10.7%
CELG	Sell	CELGENE CORP	$21,875,000	+23.1%	142,113	-6.5%	4.75%	+13.0%
GILD	Buy	GILEAD SCIENCES INC	$19,090,000	+22.8%	303,784	+0.0%	4.15%	+12.8%
TMO	Sell	THERMO FISHER CORP	$18,110,000	+5.6%	196,532	-3.0%	3.93%	-3.0%
BRKB	Buy	BERKSHIRE HATHAWAY INC	$18,056,000	+1.9%	159,068	+0.5%	3.92%	-6.4%
ORCL	Buy	ORACLE CORP	$17,169,000	+14.7%	517,615	+6.3%	3.73%	+5.4%
NOV	Buy	NATIONAL OILWELL VARCO COM STK	$17,155,000	+20.4%	219,621	+6.2%	3.73%	+10.6%
FISV	Sell	FISERV INC COM	$17,133,000	+14.7%	169,552	-0.8%	3.72%	+5.3%
MMM	Sell	3M CO COM	$16,617,000	+8.3%	139,162	-0.8%	3.61%	-0.5%
HP	Sell	HELMERICH & PAYNE INC COM	$16,593,000	+9.7%	240,659	-0.6%	3.60%	+0.8%
GOOGL	Sell	GOOGLE INC CL A	$16,556,000	-1.5%	18,902	-1.0%	3.60%	-9.5%
OMC	Buy	OMNICOM GROUP INC COM	$16,315,000	+1.0%	257,170	+0.1%	3.54%	-7.2%
JNJ	Sell	JOHNSON & JOHNSON COM USD1	$15,930,000	-1.0%	183,762	-1.9%	3.46%	-9.1%
VAR	Sell	VARIAN MED SYS INC	$15,917,000	+9.1%	212,996	-1.5%	3.46%	+0.2%
UTX	Sell	UNITED TECHNOLOGIES CORP COM	$15,798,000	+15.8%	146,522	-0.2%	3.43%	+6.4%
SYK	Sell	STRYKER CORP	$15,384,000	+3.2%	227,604	-1.2%	3.34%	-5.2%
AXP	Buy	AMERICAN EXPRESS CO	$14,878,000	+1.7%	197,005	+0.7%	3.23%	-6.6%
CL	Sell	COLGATE-PALMOLIVE CO COM	$14,810,000	+3.5%	249,750	-0.0%	3.22%	-5.0%
PG	Buy	PROCTER & GAMBLE COM NPV	$14,584,000	-1.5%	192,938	+0.3%	3.17%	-9.6%
VRSK	Sell	VERISK ANALYTICS INC	$14,197,000	+7.9%	218,549	-0.8%	3.08%	-0.9%
XOM	Buy	EXXON MOBIL CORP	$14,057,000	+0.6%	163,382	+5.6%	3.05%	-7.6%
CVX	Sell	CHEVRON CORP COM	$13,964,000	+2.6%	114,930	-0.0%	3.03%	-5.7%
ABT	Buy	ABBOTT LABORATORIES	$9,860,000	+22.9%	297,071	+29.1%	2.14%	+12.9%
IBM	Sell	INTERNATIONAL BUSINESS MACHINE	$9,378,000	-4.5%	50,645	-1.4%	2.04%	-12.2%
DVN	Sell	DEVON ENERGY CORP NEW COM	$8,738,000	+10.9%	151,275	-0.4%	1.90%	+1.8%
ACN	Buy	ACCENTURE PLC	$7,911,000	+9.0%	107,433	+6.5%	1.72%	+0.1%
LH	Sell	LABORATORY CORP AMER HLDGS	$7,738,000	-2.9%	78,054	-2.0%	1.68%	-10.8%
NSRGY	Buy	NESTLE S A SPONSORED ADR REPSTadr	$4,797,000	+12.7%	68,920	+6.5%	1.04%	+3.5%
SLB	Buy	SCHLUMBERGER LTD	$4,215,000	+26.2%	47,705	+2.3%	0.92%	+15.9%
FCX	Buy	FREEPORT-MCMORAN COPPER & GOLD	$2,586,000	+23.1%	78,182	+2.8%	0.56%	+13.1%
LIFE	Sell	LIFE TECHNOLOGIES CORP	$1,706,000	-4.7%	22,801	-5.8%	0.37%	-12.5%
CMCSA	Buy	COMCAST CORP CLASS A COMMON ST	$1,529,000	+27.6%	33,900	+18.1%	0.33%	+17.3%
ALL	Buy	ALLSTATE CORP COMMON STOCK USD	$1,223,000	+24.0%	24,200	+18.0%	0.27%	+14.2%
CVS	Buy	CVS CAREMARK CORP COMMON STOCK	$1,203,000	+16.9%	21,200	+17.8%	0.26%	+7.4%
UNP	Buy	UNION PACIFIC CORP COMMON STOC	$1,198,000	+17.3%	7,715	+16.6%	0.26%	+7.9%
CB	Buy	CHUBB CORP COMMON STOCK USD1.	$1,169,000	+24.4%	13,100	+18.0%	0.25%	+14.4%
PPL	Buy	PPL CORPORATION COMMON STOCK U	$1,059,000	+18.9%	34,850	+18.3%	0.23%	+9.0%
VZ	Buy	VERIZON COMMUNICATIONS	$1,030,000	+7.2%	22,081	+15.7%	0.22%	-1.3%
DRI	Buy	DARDEN RESTAURANTS INC COMMON	$1,004,000	+8.1%	21,700	+17.9%	0.22%	-0.9%
EBAY	Buy	EBAY INC	$960,000	+25.5%	17,200	+16.2%	0.21%	+15.5%
PX	Buy	PRAXAIR INC	$793,000	+20.9%	6,600	+15.8%	0.17%	+11.0%

Q2 2013

			Value		Shares		↓ Weighting
MA	New	MASTERCARD INC-CLASS A	$21,272,000	–	37,027	–	5.03%	–
AAPL	New	APPLE INC	$19,492,000	–	49,212	–	4.61%	–
CELG	New	CELGENE CORP	$17,777,000	–	152,055	–	4.20%	–
BRKB	New	BERKSHIRE HATHAWAY INC	$17,722,000	–	158,347	–	4.19%	–
TMO	New	THERMO FISHER CORP	$17,151,000	–	202,664	–	4.06%	–
GOOGL	New	GOOGLE INC CL A	$16,811,000	–	19,095	–	3.98%	–
OMC	New	OMNICOM GROUP INC COM	$16,150,000	–	256,881	–	3.82%	–
JNJ	New	JOHNSON & JOHNSON COM USD1	$16,091,000	–	187,404	–	3.80%	–
GILD	New	GILEAD SCIENCES INC	$15,549,000	–	303,640	–	3.68%	–
MMM	New	3M CO COM	$15,343,000	–	140,310	–	3.63%	–
HP	New	HELMERICH & PAYNE INC COM	$15,122,000	–	242,146	–	3.58%	–
ORCL	New	ORACLE CORP	$14,963,000	–	487,090	–	3.54%	–
FISV	New	FISERV INC COM	$14,943,000	–	170,951	–	3.53%	–
SYK	New	STRYKER CORP COM	$14,907,000	–	230,480	–	3.52%	–
PG	New	PROCTER & GAMBLE COM NPV	$14,811,000	–	192,377	–	3.50%	–
AXP	New	AMERICAN EXPRESS CO	$14,630,000	–	195,690	–	3.46%	–
VAR	New	VARIAN MEDICAL SYSTEMS INC	$14,591,000	–	216,330	–	3.45%	–
CL	New	COLGATE-PALMOLIVE CO COM	$14,313,000	–	249,835	–	3.38%	–
NOV	New	NATIONAL OILWELL VARCO COM STK	$14,252,000	–	206,849	–	3.37%	–
XOM	New	EXXON MOBIL CORP	$13,977,000	–	154,700	–	3.30%	–
UTX	New	UNITED TECHNOLOGIES CORP COM	$13,647,000	–	146,839	–	3.23%	–
CVX	New	CHEVRON CORP COM	$13,604,000	–	114,954	–	3.22%	–
VRSK	New	VERISK ANALYTICS INC	$13,159,000	–	220,420	–	3.11%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$9,815,000	–	51,360	–	2.32%	–
ABT	New	ABBOTT LABORATORIES	$8,024,000	–	230,044	–	1.90%	–
LH	New	LABORATORY CORP AMER HLDGS	$7,969,000	–	79,607	–	1.88%	–
DVN	New	DEVON ENERGY CORP NEW	$7,881,000	–	151,902	–	1.86%	–
ACN	New	ACCENTURE PLC	$7,261,000	–	100,902	–	1.72%	–
NSRGY	New	NESTLE S A SPONSORED ADR REPSTadr	$4,257,000	–	64,721	–	1.01%	–
SLB	New	SCHLUMBERGER LTD	$3,341,000	–	46,627	–	0.79%	–
FCX	New	FREEPORT-MCMORAN COPPER & GOLD	$2,101,000	–	76,082	–	0.50%	–
LIFE	New	LIFE TECHNOLOGIES CORP COM	$1,791,000	–	24,201	–	0.42%	–
CMCSA	New	COMCAST CORP CL A	$1,198,000	–	28,700	–	0.28%	–
CVS	New	CVS CAREMARK CORP	$1,029,000	–	18,000	–	0.24%	–
UNP	New	UNION PACIFIC CORP COM	$1,021,000	–	6,615	–	0.24%	–
ALL	New	ALLSTATE CORP COM	$986,000	–	20,500	–	0.23%	–
VZ	New	VERIZON COMMUNICATIONS	$961,000	–	19,081	–	0.23%	–
CB	New	CHUBB CORP COM	$940,000	–	11,100	–	0.22%	–
DRI	New	DARDEN RESTAURANTS INC COM	$929,000	–	18,400	–	0.22%	–
PPL	New	PPL CORP COM	$891,000	–	29,450	–	0.21%	–
EBAY	New	EBAY INC	$765,000	–	14,800	–	0.18%	–
PX	New	PRAXAIR INC	$656,000	–	5,700	–	0.16%	–
KMB	New	KIMBERLY CLARK CORP	$472,000	–	4,855	–	0.11%	–
	New	NESTLE SA (CHF)	$228,000	–	3,475	–	0.05%	–
	New	SINGAPORE TELECOMMUNICATIONS (	$42,000	–	14,000	–	0.01%	–
	New	BOC HONG KONG HOLDINGS LTD (HK	$31,000	–	10,000	–	0.01%	–
	New	ICTC GROUP INC FRAC SHS	$0	–	66,000	–	0.00%	–

Compare quarters

Export Martin Investment Management, LLC's holdings