Q1 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTC | Sell | INTEL CORP | $17,976,000 | +12.6% | 334,750 | -1.6% | 9.51% | -6.7% |
| AL | Sell | AIR LEASE CORP CL A | $17,604,000 | +11.4% | 512,475 | -2.1% | 9.31% | -7.7% |
| KEYS | Sell | KEYSIGHT TECHNOLOGIES COM | $17,084,000 | +39.1% | 195,913 | -1.0% | 9.04% | +15.2% |
| GGG | Buy | GRACO INC | $16,561,000 | +19.9% | 334,425 | +1.4% | 8.76% | -0.6% |
| IBKR | Sell | INTERACTIVE BROKERS GR COM | $16,106,000 | -6.6% | 310,450 | -1.6% | 8.52% | -22.6% |
| BFB | Sell | BROWN FORMAN INC CL B | $13,542,000 | +10.1% | 256,573 | -0.8% | 7.16% | -8.8% |
| EL | Sell | ESTEE LAUDER COMPANIES INC | $12,381,000 | +10.2% | 74,785 | -13.4% | 6.55% | -8.7% |
| GILD | Buy | GILEAD SCIENCES INC | $12,297,000 | +31.6% | 189,150 | +26.6% | 6.51% | +9.1% |
| FWONK | Buy | LIBERTY MEDIA CORP-LIBERTY FRM | $11,836,000 | +115.3% | 337,700 | +88.6% | 6.26% | +78.4% |
| DHI | Buy | D R HORTON INC | $11,169,000 | +245.8% | 269,925 | +189.6% | 5.91% | +186.4% |
| DOCU | Buy | DOCUSIGN INC COM | $8,626,000 | +70.2% | 166,390 | +31.6% | 4.56% | +41.0% |
| RDSA | Sell | ROYAL DUTCH SHELL PLC ADR | $7,788,000 | +5.1% | 124,425 | -2.2% | 4.12% | -12.9% |
| FDX | Buy | FEDEX CORP COM | $7,744,000 | +111.8% | 42,690 | +88.4% | 4.10% | +75.5% |
| WSO | New | WATSCO INC | $7,561,000 | – | 52,800 | – | 4.00% | – |
| CME | Sell | CME GROUP INC | $6,797,000 | -57.3% | 41,300 | -51.2% | 3.60% | -64.7% |
| BRKA | Sell | BERKSHIRE HATHAWAY INC CL A | $1,807,000 | -50.8% | 6 | -50.0% | 0.96% | -59.2% |
| V | Sell | VISA INC CLASS A SHRS | $868,000 | +15.3% | 5,556 | -2.7% | 0.46% | -4.6% |
| GOOGL | Sell | ALPHABET INC CLASS A | $671,000 | +3.5% | 570 | -8.1% | 0.36% | -14.3% |
| BMY | New | BRISTOL MYERS SQUIBB C COM | $365,000 | – | 7,650 | – | 0.19% | – |
| MCO | New | MOODYS CORP | $235,000 | – | 1,300 | – | 0.12% | – |
| LUMN | Exit | CENTURYLINK INC COM | $0 | – | -181,925 | – | -1.76% | – |
Q4 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| IBKR | Sell | INTERACTIVE BROKERS GR COM | $17,239,000 | -5.2% | 315,450 | -4.0% | 11.01% | +23.4% |
| INTC | Sell | INTEL CORP | $15,963,000 | -4.2% | 340,150 | -3.5% | 10.19% | +24.7% |
| CME | Sell | CME GROUP INC | $15,934,000 | +5.8% | 84,700 | -4.3% | 10.18% | +37.7% |
| AL | Buy | AIR LEASE CORP CL A | $15,807,000 | -25.4% | 523,225 | +13.3% | 10.09% | -2.9% |
| GGG | Buy | GRACO INC | $13,807,000 | -4.0% | 329,925 | +6.4% | 8.82% | +25.0% |
| BFB | Sell | BROWN FORMAN INC CL B | $12,301,000 | -10.6% | 258,523 | -5.1% | 7.86% | +16.3% |
| KEYS | Sell | KEYSIGHT TECHNOLOGIES COM | $12,282,000 | -10.2% | 197,838 | -4.1% | 7.84% | +16.9% |
| EL | Sell | ESTEE LAUDER COMPANIES INC | $11,233,000 | -14.5% | 86,345 | -4.5% | 7.17% | +11.3% |
| GILD | Sell | GILEAD SCIENCES INC | $9,342,000 | -41.2% | 149,350 | -27.4% | 5.97% | -23.5% |
| RDSA | Buy | ROYAL DUTCH SHELL PLC ADR | $7,410,000 | +33.3% | 127,175 | +55.9% | 4.73% | +73.6% |
| FWONK | Sell | LIBERTY MEDIA CORP-LIBERTY FRM | $5,497,000 | -65.0% | 179,050 | -57.6% | 3.51% | -54.4% |
| DOCU | New | DOCUSIGN INC COM | $5,068,000 | – | 126,440 | – | 3.24% | – |
| FDX | New | FEDEX CORP COM | $3,656,000 | – | 22,660 | – | 2.34% | – |
| DHI | Sell | D R HORTON INC | $3,230,000 | -66.9% | 93,200 | -59.8% | 2.06% | -57.0% |
| LUMN | Sell | CENTURYLINK INC COM | $2,756,000 | -70.0% | 181,925 | -58.0% | 1.76% | -60.9% |
| MA | Exit | MASTERCARD IN CLASS A | $0 | – | -900 | – | -0.10% | – |
| SPGI | Exit | S&P GLOBAL INC COM | $0 | – | -16,525 | – | -1.58% | – |
| FAF | Exit | FIRST AMERICAN FINANCIAL | $0 | – | -123,075 | – | -3.12% | – |
| CBS | Exit | CBS CORP NEW CL B | $0 | – | -112,225 | – | -3.16% | – |
Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| AL | Sell | AIR LEASE CORP CL A | $21,191,000 | +9.3% | 461,875 | -0.0% | 10.40% | +13.7% |
| IBKR | Sell | INTERACTIVE BROKERS GR COM | $18,183,000 | -14.8% | 328,750 | -0.8% | 8.92% | -11.4% |
| INTC | Buy | INTEL CORP | $16,667,000 | -4.2% | 352,450 | +0.7% | 8.18% | -0.4% |
| GILD | Buy | GILEAD SCIENCES INC | $15,894,000 | +9.2% | 205,850 | +0.2% | 7.80% | +13.6% |
| FWONK | Sell | LIBERTY MEDIA CORP-LIBERTY FRM | $15,702,000 | -0.7% | 422,200 | -0.9% | 7.70% | +3.3% |
| CME | Buy | CME GROUP INC | $15,064,000 | +4.1% | 88,500 | +0.2% | 7.39% | +8.3% |
| KEYS | Sell | KEYSIGHT TECHNOLOGIES COM | $13,676,000 | -5.0% | 206,338 | -15.4% | 6.71% | -1.2% |
| EL | Sell | ESTEE LAUDER COMPANIES INC | $13,136,000 | -11.6% | 90,395 | -13.2% | 6.44% | -8.0% |
| DHI | New | D R HORTON INC | $9,771,000 | – | 231,650 | – | 4.79% | – |
| LUMN | Buy | CENTURYLINK INC COM | $9,178,000 | +23.0% | 432,925 | +8.1% | 4.50% | +27.9% |
| CBS | New | CBS CORP NEW CL B | $6,447,000 | – | 112,225 | – | 3.16% | – |
| FAF | Sell | FIRST AMERICAN FINANCIAL | $6,349,000 | -52.9% | 123,075 | -52.8% | 3.12% | -51.0% |
| RDSA | Sell | ROYAL DUTCH SHELL PLC ADR | $5,557,000 | -50.1% | 81,550 | -49.3% | 2.73% | -48.1% |
| SPGI | Buy | S&P GLOBAL INC COM | $3,229,000 | -1.2% | 16,525 | +3.1% | 1.58% | +2.8% |
| MA | New | MASTERCARD IN CLASS A | $200,000 | – | 900 | – | 0.10% | – |
| TECH | Exit | BIO-TECHNE CORP | $0 | – | -1,900 | – | -0.13% | – |
| THO | Exit | THOR INDS INC COM | $0 | – | -4,800 | – | -0.22% | – |
| FDX | Exit | FEDEX CORP COM | $0 | – | -50,555 | – | -5.41% | – |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| IBKR | New | INTERACTIVE BROKERS GR COM | $21,344,000 | – | 331,375 | – | 10.07% | – |
| AL | New | AIR LEASE CORP CL A | $19,391,000 | – | 462,025 | – | 9.14% | – |
| INTC | New | INTEL CORP | $17,406,000 | – | 350,150 | – | 8.21% | – |
| FWONK | New | LIBERTY MEDIA CORP-LIBERTY FRM | $15,817,000 | – | 426,000 | – | 7.46% | – |
| EL | New | ESTEE LAUDER COMPANIES INC | $14,861,000 | – | 104,150 | – | 7.01% | – |
| GILD | New | GILEAD SCIENCES INC | $14,554,000 | – | 205,450 | – | 6.86% | – |
| CME | New | CME GROUP INC | $14,474,000 | – | 88,300 | – | 6.83% | – |
| KEYS | New | KEYSIGHT TECHNOLOGIES COM | $14,393,000 | – | 243,818 | – | 6.79% | – |
| GGG | New | GRACO INC | $14,027,000 | – | 310,200 | – | 6.62% | – |
| FAF | New | FIRST AMERICAN FINANCIAL | $13,487,000 | – | 260,775 | – | 6.36% | – |
| BFB | New | BROWN FORMAN INC CL B | $13,347,000 | – | 272,335 | – | 6.29% | – |
| FDX | New | FEDEX CORP COM | $11,479,000 | – | 50,555 | – | 5.41% | – |
| RDSA | New | ROYAL DUTCH SHELL PLC ADR | $11,146,000 | – | 161,000 | – | 5.26% | – |
| LUMN | New | CENTURYLINK INC COM | $7,463,000 | – | 400,375 | – | 3.52% | – |
| BRKA | New | BERKSHIRE HATHAWAY INC CL A | $3,384,000 | – | 12 | – | 1.60% | – |
| SPGI | New | S&P GLOBAL INC COM | $3,267,000 | – | 16,025 | – | 1.54% | – |
| V | New | VISA INC CLASS A SHRS | $756,000 | – | 5,709 | – | 0.36% | – |
| GOOGL | New | ALPHABET INC CLASS A | $700,000 | – | 620 | – | 0.33% | – |
| THO | New | THOR INDS INC COM | $467,000 | – | 4,800 | – | 0.22% | – |
| TECH | New | BIO-TECHNE CORP | $281,000 | – | 1,900 | – | 0.13% | – |
Q4 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| TECH | Exit | BIO-TECHNE CORP | $0 | – | -1,900 | – | -0.12% | – |
| FB | Exit | FACEBOOK INC CL A | $0 | – | -2,070 | – | -0.19% | – |
| Q | Exit | QUINTILES TRANSNATIO H COM | $0 | – | -4,028 | – | -0.21% | – |
| CELG | Exit | CELGENE CORP COM | $0 | – | -2,938 | – | -0.23% | – |
| PM | Exit | PHILIP MORRIS INTL INC | $0 | – | -4,300 | – | -0.26% | – |
| V | Exit | VISA INC CLASS A SHRS | $0 | – | -5,727 | – | -0.33% | – |
| ADSK | Exit | AUTODESK INC COM | $0 | – | -5,540 | – | -0.34% | – |
| GOOGL | Exit | ALPHABET INC CLASS A | $0 | – | -743 | – | -0.39% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY INC CL A | $0 | – | -12 | – | -1.79% | – |
| CLB | Exit | CORE LABORATORIES N V | $0 | – | -42,460 | – | -2.27% | – |
| KEYS | Exit | KEYSIGHT TECHNOLOGIES COM | $0 | – | -141,750 | – | -3.20% | – |
| FDX | Exit | FEDEX CORP COM | $0 | – | -33,445 | – | -4.09% | – |
| DHI | Exit | D R HORTON INC | $0 | – | -241,900 | – | -5.23% | – |
| RDSA | Exit | ROYAL DUTCH SHELL PLC ADR | $0 | – | -159,775 | – | -5.24% | – |
| CME | Exit | CME GROUP INC | $0 | – | -84,450 | – | -6.21% | – |
| EL | Exit | ESTEE LAUDER COMPANIES INC | $0 | – | -109,050 | – | -6.37% | – |
| BFB | Exit | BROWN FORMAN INC CL B | $0 | – | -221,670 | – | -6.52% | – |
| GNTX | Exit | GENTEX CORP | $0 | – | -620,000 | – | -6.65% | – |
| GGG | Exit | GRACO INC | $0 | – | -103,500 | – | -6.94% | – |
| IBKR | Exit | INTERACTIVE BROKERS GR COM | $0 | – | -302,900 | – | -7.39% | – |
| FAF | Exit | FIRST AMERICAN FINANCIAL | $0 | – | -308,650 | – | -8.36% | – |
| INTC | Exit | INTEL CORP | $0 | – | -417,650 | – | -8.62% | – |
| GILD | Exit | GILEAD SCIENCES INC | $0 | – | -205,800 | – | -9.03% | – |
| AL | Exit | AIR LEASE CORP CL A | $0 | – | -433,950 | – | -10.02% | – |
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| AL | Sell | AIR LEASE CORP CL A | $18,495,000 | +9.5% | 433,950 | -4.1% | 10.02% | -6.2% |
| INTC | Sell | INTEL CORP | $15,904,000 | +11.1% | 417,650 | -1.6% | 8.62% | -4.8% |
| FAF | Sell | FIRST AMERICAN FINANCIAL | $15,423,000 | +6.1% | 308,650 | -5.1% | 8.36% | -9.0% |
| IBKR | Buy | INTERACTIVE BROKERS GR COM | $13,643,000 | +22.0% | 302,900 | +1.4% | 7.39% | +4.6% |
| GGG | Sell | GRACO INC | $12,802,000 | +12.6% | 103,500 | -0.5% | 6.94% | -3.5% |
| GNTX | Sell | GENTEX CORP | $12,276,000 | -8.0% | 620,000 | -11.9% | 6.65% | -21.2% |
| BFB | Sell | BROWN FORMAN INC CL B | $12,037,000 | +11.1% | 221,670 | -0.6% | 6.52% | -4.8% |
| EL | Sell | ESTEE LAUDER COMPANIES INC | $11,760,000 | +11.7% | 109,050 | -0.5% | 6.37% | -4.2% |
| CME | Buy | CME GROUP INC | $11,458,000 | +28.4% | 84,450 | +18.5% | 6.21% | +10.1% |
| RDSA | Buy | ROYAL DUTCH SHELL PLC ADR | $9,679,000 | +66.6% | 159,775 | +46.3% | 5.24% | +42.8% |
| DHI | Sell | D R HORTON INC | $9,659,000 | -3.2% | 241,900 | -16.2% | 5.23% | -17.1% |
| FDX | New | FEDEX CORP COM | $7,545,000 | – | 33,445 | – | 4.09% | – |
| KEYS | New | KEYSIGHT TECHNOLOGIES COM | $5,905,000 | – | 141,750 | – | 3.20% | – |
| CLB | Sell | CORE LABORATORIES N V | $4,191,000 | -29.1% | 42,460 | -27.3% | 2.27% | -39.3% |
| CELG | Sell | CELGENE CORP COM | $428,000 | +4.4% | 2,938 | -6.9% | 0.23% | -10.4% |
| NTRS | Exit | NORTHERN TR CORP COM | $0 | – | -4,110 | – | -0.25% | – |
| AIRG | Exit | AIRGAIN INC COM | $0 | – | -207,000 | – | -1.86% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| AL | New | AIR LEASE CORP CL A | $16,898,000 | – | 452,300 | – | 10.68% | – |
| GILD | New | GILEAD SCIENCES INC | $14,567,000 | – | 205,800 | – | 9.21% | – |
| FAF | New | FIRST AMERICAN FINANCIAL | $14,531,000 | – | 325,150 | – | 9.19% | – |
| INTC | New | INTEL CORP | $14,319,000 | – | 424,400 | – | 9.05% | – |
| GNTX | New | GENTEX CORP | $13,350,000 | – | 703,750 | – | 8.44% | – |
| GGG | New | GRACO INC | $11,365,000 | – | 104,000 | – | 7.18% | – |
| IBKR | New | INTERACTIVE BROKERS GR COM | $11,181,000 | – | 298,800 | – | 7.07% | – |
| BFB | New | BROWN FORMAN INC CL B | $10,833,000 | – | 222,900 | – | 6.85% | – |
| EL | New | ESTEE LAUDER COMPANIES INC | $10,524,000 | – | 109,650 | – | 6.65% | – |
| DHI | New | D R HORTON INC | $9,979,000 | – | 288,650 | – | 6.31% | – |
| CME | New | CME GROUP INC | $8,923,000 | – | 71,250 | – | 5.64% | – |
| CLB | New | CORE LABORATORIES N V | $5,914,000 | – | 58,395 | – | 3.74% | – |
| RDSA | New | ROYAL DUTCH SHELL PLC ADR | $5,808,000 | – | 109,200 | – | 3.67% | – |
| BRKA | New | BERKSHIRE HATHAWAY INC CL A | $3,056,000 | – | 12 | – | 1.93% | – |
| AIRG | New | AIRGAIN INC COM | $2,935,000 | – | 207,000 | – | 1.86% | – |
| GOOGL | New | ALPHABET INC CLASS A | $691,000 | – | 743 | – | 0.44% | – |
| ADSK | New | AUTODESK INC COM | $559,000 | – | 5,540 | – | 0.35% | – |
| V | New | VISA INC CLASS A SHRS | $537,000 | – | 5,727 | – | 0.34% | – |
| PM | New | PHILIP MORRIS INTL INC | $505,000 | – | 4,300 | – | 0.32% | – |
| CELG | New | CELGENE CORP COM | $410,000 | – | 3,156 | – | 0.26% | – |
| NTRS | New | NORTHERN TR CORP COM | $400,000 | – | 4,110 | – | 0.25% | – |
| Q | New | QUINTILES TRANSNATIO H COM | $361,000 | – | 4,028 | – | 0.23% | – |
| FB | New | FACEBOOK INC CL A | $313,000 | – | 2,070 | – | 0.20% | – |
| TECH | New | BIO-TECHNE CORP | $223,000 | – | 1,900 | – | 0.14% | – |
Q4 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| TECH | Exit | BIO-TECHNE CORP | $0 | – | -1,900 | – | -0.12% | – |
| PM | Exit | PHILIP MORRIS INTL INC | $0 | – | -2,900 | – | -0.16% | – |
| CAE | Exit | CAE INC COM | $0 | – | -24,000 | – | -0.19% | – |
| RDSA | Exit | ROYAL DUTCH SHELL PLC ADR | $0 | – | -8,100 | – | -0.22% | – |
| DEO | Exit | DIAGEO PLC SPONSORED ADR (NEW) | $0 | – | -8,750 | – | -0.56% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY INC CL A | $0 | – | -12 | – | -1.44% | – |
| IBKR | Exit | INTERACTIVE BROKERS GR COM | $0 | – | -162,350 | – | -3.17% | – |
| CME | Exit | CME GROUP INC | $0 | – | -84,150 | – | -4.87% | – |
| FOSL | Exit | FOSSIL GROUP INC COM | $0 | – | -339,100 | – | -5.21% | – |
| COL | Exit | ROCKWELL COLLINS INC | $0 | – | -111,725 | – | -5.22% | – |
| DHI | Exit | D R HORTON INC | $0 | – | -320,750 | – | -5.36% | – |
| CNK | Exit | CINEMARK HOLDINGS INC | $0 | – | -253,700 | – | -5.38% | – |
| CLB | Exit | CORE LABORATORIES N V | $0 | – | -88,380 | – | -5.50% | – |
| GILD | Exit | GILEAD SCIENCES INC | $0 | – | -143,150 | – | -6.27% | – |
| INCR | Exit | INC RESH HLDGS INC CL A | $0 | – | -270,550 | – | -6.68% | – |
| BFB | Exit | BROWN FORMAN INC CL B | $0 | – | -280,450 | – | -7.36% | – |
| GGG | Exit | GRACO INC | $0 | – | -181,050 | – | -7.42% | – |
| AL | Exit | AIR LEASE CORP CL A | $0 | – | -493,900 | – | -7.81% | – |
| FAF | Exit | FIRST AMERICAN FINANCIAL | $0 | – | -371,400 | – | -8.07% | – |
| GNTX | Exit | GENTEX CORP | $0 | – | -910,100 | – | -8.84% | – |
| INTC | Exit | INTEL CORP | $0 | – | -486,600 | – | -10.17% | – |
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTC | Sell | INTEL CORP | $18,369,000 | +10.5% | 486,600 | -4.0% | 10.17% | +13.3% |
| GNTX | Sell | GENTEX CORP | $15,981,000 | +5.6% | 910,100 | -7.1% | 8.84% | +8.3% |
| FAF | Sell | FIRST AMERICAN FINANCIAL | $14,589,000 | -24.1% | 371,400 | -22.3% | 8.07% | -22.1% |
| AL | Sell | AIR LEASE CORP CL A | $14,116,000 | +2.9% | 493,900 | -3.6% | 7.81% | +5.5% |
| GGG | Sell | GRACO INC | $13,398,000 | -10.0% | 181,050 | -3.9% | 7.42% | -7.7% |
| BFB | Buy | BROWN FORMAN INC CL B | $13,305,000 | -8.7% | 280,450 | +92.0% | 7.36% | -6.4% |
| INCR | Sell | INC RESH HLDGS INC CL A | $12,061,000 | +14.1% | 270,550 | -2.4% | 6.68% | +17.1% |
| GILD | Buy | GILEAD SCIENCES INC | $11,326,000 | +3.8% | 143,150 | +9.5% | 6.27% | +6.5% |
| CLB | Sell | CORE LABORATORIES N V | $9,928,000 | -13.2% | 88,380 | -4.3% | 5.50% | -11.0% |
| CNK | Sell | CINEMARK HOLDINGS INC | $9,712,000 | +0.6% | 253,700 | -4.2% | 5.38% | +3.1% |
| DHI | Sell | D R HORTON INC | $9,687,000 | -8.5% | 320,750 | -4.6% | 5.36% | -6.2% |
| COL | Sell | ROCKWELL COLLINS INC | $9,423,000 | -20.0% | 111,725 | -19.3% | 5.22% | -18.0% |
| FOSL | Buy | FOSSIL GROUP INC COM | $9,417,000 | +6.6% | 339,100 | +9.6% | 5.21% | +9.4% |
| CME | Sell | CME GROUP INC | $8,795,000 | +1.9% | 84,150 | -5.0% | 4.87% | +4.5% |
| IBKR | New | INTERACTIVE BROKERS GR COM | $5,726,000 | – | 162,350 | – | 3.17% | – |
| DEO | Sell | DIAGEO PLC SPONSORED ADR (NEW) | $1,015,000 | -6.8% | 8,750 | -9.3% | 0.56% | -4.4% |
| RDSA | New | ROYAL DUTCH SHELL PLC ADR | $406,000 | – | 8,100 | – | 0.22% | – |
| PM | Sell | PHILIP MORRIS INTL INC | $282,000 | -13.5% | 2,900 | -9.4% | 0.16% | -11.4% |
| DLB | Exit | DOLBY LABORATORIES INC COM | $0 | – | -88,350 | – | -2.28% | – |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FAF | New | FIRST AMERICAN FINANCIAL | $19,217,000 | – | 477,800 | – | 10.37% | – |
| INTC | New | INTEL CORP | $16,623,000 | – | 506,800 | – | 8.97% | – |
| GNTX | New | GENTEX CORP | $15,128,000 | – | 979,150 | – | 8.16% | – |
| GGG | New | GRACO INC | $14,886,000 | – | 188,450 | – | 8.03% | – |
| BFB | New | BROWN FORMAN INC CL B | $14,572,000 | – | 146,075 | – | 7.86% | – |
| AL | New | AIR LEASE CORP CL A | $13,723,000 | – | 512,450 | – | 7.41% | – |
| COL | New | ROCKWELL COLLINS INC | $11,786,000 | – | 138,425 | – | 6.36% | – |
| CLB | New | CORE LABORATORIES N V | $11,439,000 | – | 92,330 | – | 6.17% | – |
| GILD | New | GILEAD SCIENCES INC | $10,907,000 | – | 130,750 | – | 5.89% | – |
| DHI | New | D R HORTON INC | $10,588,000 | – | 336,350 | – | 5.71% | – |
| INCR | New | INC RESH HLDGS INC CL A | $10,566,000 | – | 277,100 | – | 5.70% | – |
| CNK | New | CINEMARK HOLDINGS INC | $9,658,000 | – | 264,900 | – | 5.21% | – |
| FOSL | New | FOSSIL GROUP INC COM | $8,830,000 | – | 309,500 | – | 4.76% | – |
| CME | New | CME GROUP INC | $8,630,000 | – | 88,600 | – | 4.66% | – |
| DLB | New | DOLBY LABORATORIES INC COM | $4,228,000 | – | 88,350 | – | 2.28% | – |
| BRKA | New | BERKSHIRE HATHAWAY INC CL A | $2,604,000 | – | 12 | – | 1.40% | – |
| DEO | New | DIAGEO PLC SPONSORED ADR (NEW) | $1,089,000 | – | 9,650 | – | 0.59% | – |
| PM | New | PHILIP MORRIS INTL INC | $326,000 | – | 3,200 | – | 0.18% | – |
| CAE | New | CAE INC COM | $290,000 | – | 24,000 | – | 0.16% | – |
| TECH | New | BIO-TECHNE CORP | $214,000 | – | 1,900 | – | 0.12% | – |
Q4 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | Exit | BERKSHIRE HATHAWAY INC CL A | $0 | – | -12 | – | -1.16% | – |
| MDR | Exit | MCDERMOTT INTL INC COM | $0 | – | -851,700 | – | -1.80% | – |
| DLB | Exit | DOLBY LABORATORIES INC COM | $0 | – | -151,500 | – | -2.43% | – |
| GILD | Exit | GILEAD SCIENCES INC | $0 | – | -55,600 | – | -2.69% | – |
| ROL | Exit | ROLLINS INCORPORATED | $0 | – | -248,432 | – | -3.29% | – |
| CAE | Exit | CAE INC COM | $0 | – | -859,300 | – | -4.50% | – |
| EXPD | Exit | EXPEDITORS INTL WASH INC | $0 | – | -269,700 | – | -6.25% | – |
| CLB | Exit | CORE LABORATORIES N V | $0 | – | -132,205 | – | -6.50% | – |
| FOSL | Exit | FOSSIL GROUP INC COM | $0 | – | -252,140 | – | -6.94% | – |
| LKQ | Exit | LKQ CORP COM | $0 | – | -506,950 | – | -7.09% | – |
| GGG | Exit | GRACO INC | $0 | – | -214,650 | – | -7.09% | – |
| BFB | Exit | BROWN FORMAN INC CL B | $0 | – | -157,950 | – | -7.54% | – |
| GNTX | Exit | GENTEX CORP | $0 | – | -995,500 | – | -7.60% | – |
| AL | Exit | AIR LEASE CORP CL A | $0 | – | -542,200 | – | -8.26% | – |
| INTC | Exit | INTEL CORP | $0 | – | -563,850 | – | -8.38% | – |
| COL | Exit | ROCKWELL COLLINS INC | $0 | – | -214,100 | – | -8.64% | – |
| FAF | Exit | FIRST AMERICAN FINANCIAL | $0 | – | -510,250 | – | -9.82% | – |
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FAF | Sell | FIRST AMERICAN FINANCIAL | $19,935,000 | -7.9% | 510,250 | -12.2% | 9.82% | -4.3% |
| COL | Sell | ROCKWELL COLLINS INC | $17,522,000 | -11.8% | 214,100 | -0.5% | 8.64% | -8.4% |
| INTC | Buy | INTEL CORP | $16,994,000 | +3.3% | 563,850 | +4.3% | 8.38% | +7.3% |
| AL | Buy | AIR LEASE CORP CL A | $16,765,000 | +1.7% | 542,200 | +11.5% | 8.26% | +5.7% |
| GNTX | Buy | GENTEX CORP | $15,430,000 | -5.5% | 995,500 | +0.1% | 7.60% | -1.8% |
| BFB | Sell | BROWN FORMAN INC CL B | $15,305,000 | -12.4% | 157,950 | -9.4% | 7.54% | -9.0% |
| GGG | Buy | GRACO INC | $14,388,000 | -4.9% | 214,650 | +0.7% | 7.09% | -1.3% |
| LKQ | Sell | LKQ CORP COM | $14,377,000 | -6.4% | 506,950 | -0.2% | 7.09% | -2.7% |
| FOSL | Buy | FOSSIL GROUP INC COM | $14,090,000 | -6.4% | 252,140 | +16.1% | 6.94% | -2.8% |
| CLB | Buy | CORE LABORATORIES N V | $13,194,000 | -11.6% | 132,205 | +1.1% | 6.50% | -8.1% |
| EXPD | New | EXPEDITORS INTL WASH INC | $12,689,000 | – | 269,700 | – | 6.25% | – |
| CAE | Buy | CAE INC COM | $9,126,000 | -10.1% | 859,300 | +1.0% | 4.50% | -6.6% |
| ROL | Sell | ROLLINS INCORPORATED | $6,675,000 | -5.9% | 248,432 | -0.0% | 3.29% | -2.2% |
| GILD | New | GILEAD SCIENCES INC | $5,459,000 | – | 55,600 | – | 2.69% | – |
| DLB | Sell | DOLBY LABORATORIES INC COM | $4,939,000 | -65.3% | 151,500 | -57.8% | 2.43% | -64.0% |
| MDR | Sell | MCDERMOTT INTL INC COM | $3,662,000 | -50.5% | 851,700 | -38.6% | 1.80% | -48.6% |
| TNK | Exit | TEEKAY TANKERS LTD CL A | $0 | – | -14,000 | – | -0.04% | – |
| MTG | Exit | MGIC INVT CORP WIS COM | $0 | – | -56,000 | – | -0.30% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FAF | New | FIRST AMERICAN FINANCIAL | $21,635,000 | – | 581,440 | – | 10.26% | – |
| COL | New | ROCKWELL COLLINS INC | $19,869,000 | – | 215,150 | – | 9.43% | – |
| BFB | New | BROWN FORMAN INC CL B | $17,464,000 | – | 174,325 | – | 8.29% | – |
| AL | New | AIR LEASE CORP CL A | $16,479,000 | – | 486,100 | – | 7.82% | – |
| INTC | New | INTEL CORP | $16,448,000 | – | 540,800 | – | 7.80% | – |
| GNTX | New | GENTEX CORP | $16,326,000 | – | 994,300 | – | 7.75% | – |
| LKQ | New | LKQ CORP COM | $15,357,000 | – | 507,750 | – | 7.29% | – |
| GGG | New | GRACO INC | $15,136,000 | – | 213,100 | – | 7.18% | – |
| FOSL | New | FOSSIL GROUP INC COM | $15,061,000 | – | 217,140 | – | 7.15% | – |
| CLB | New | CORE LABORATORIES N V | $14,917,000 | – | 130,805 | – | 7.08% | – |
| DLB | New | DOLBY LABORATORIES INC COM | $14,239,000 | – | 358,850 | – | 6.76% | – |
| CAE | New | CAE INC COM | $10,152,000 | – | 851,000 | – | 4.82% | – |
| MDR | New | MCDERMOTT INTL INC COM | $7,402,000 | – | 1,386,100 | – | 3.51% | – |
| ROL | New | ROLLINS INCORPORATED | $7,091,000 | – | 248,532 | – | 3.36% | – |
| BRKA | New | BERKSHIRE HATHAWAY INC CL A | $2,458,000 | – | 12 | – | 1.17% | – |
| MTG | New | MGIC INVT CORP WIS COM | $637,000 | – | 56,000 | – | 0.30% | – |
| TNK | New | TEEKAY TANKERS LTD CL A | $93,000 | – | 14,000 | – | 0.04% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MSFT | Exit | MICROSOFT CORP | $0 | – | -4,400 | – | -0.10% | – |
| GLW | Exit | CORNING INC COM | $0 | – | -10,800 | – | -0.10% | – |
| KO | Exit | COCA COLA COMPANY | $0 | – | -7,250 | – | -0.16% | – |
| SLB | Exit | SCHLUMBERGER LIMITED | $0 | – | -3,148 | – | -0.16% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY INC CL A | $0 | – | -12 | – | -1.24% | – |
| ROL | Exit | ROLLINS INCORPORATED | $0 | – | -309,675 | – | -4.55% | – |
| NNBR | Exit | NN INC COM | $0 | – | -380,500 | – | -5.10% | – |
| CAE | Exit | CAE INC COM | $0 | – | -910,600 | – | -5.54% | – |
| GNTX | Exit | GENTEX CORP | $0 | – | -472,150 | – | -6.34% | – |
| LKQ | Exit | LKQ CORP COM | $0 | – | -489,300 | – | -6.52% | – |
| CNK | Exit | CINEMARK HOLDINGS INC | $0 | – | -393,400 | – | -6.71% | – |
| GGG | Exit | GRACO INC | $0 | – | -186,150 | – | -6.81% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -78,750 | – | -7.25% | – |
| DLB | Exit | DOLBY LABORATORIES INC COM | $0 | – | -371,300 | – | -7.78% | – |
| AL | Exit | AIR LEASE CORP CL A | $0 | – | -484,500 | – | -7.89% | – |
| BFB | Exit | BROWN FORMAN INC CL B | $0 | – | -175,125 | – | -7.92% | – |
| FAF | Exit | FIRST AMERICAN FINANCIAL | $0 | – | -585,240 | – | -7.96% | – |
| COL | Exit | ROCKWELL COLLINS INC | $0 | – | -223,900 | – | -8.81% | – |
| INTC | Exit | INTEL CORP | $0 | – | -518,750 | – | -9.06% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| INTC | Buy | INTEL CORP | $18,063,000 | +15.3% | 518,750 | +2.3% | 9.06% | +27.2% |
| COL | Buy | ROCKWELL COLLINS INC | $17,576,000 | +3.4% | 223,900 | +2.9% | 8.81% | +14.1% |
| AL | Buy | AIR LEASE CORP CL A | $15,746,000 | -15.4% | 484,500 | +0.4% | 7.89% | -6.7% |
| DLB | Buy | DOLBY LABORATORIES INC COM | $15,517,000 | -1.7% | 371,300 | +1.6% | 7.78% | +8.5% |
| GS | Buy | GOLDMAN SACHS GROUP INC | $14,456,000 | +14.6% | 78,750 | +4.5% | 7.25% | +26.4% |
| LKQ | Buy | LKQ CORP COM | $13,010,000 | +2.7% | 489,300 | +3.1% | 6.52% | +13.4% |
| GNTX | Buy | GENTEX CORP | $12,639,000 | -7.4% | 472,150 | +0.6% | 6.34% | +2.2% |
| CAE | Buy | CAE INC COM | $11,046,000 | +2040.7% | 910,600 | +2217.0% | 5.54% | +2266.7% |
| NNBR | Buy | NN INC COM | $10,167,000 | +6.7% | 380,500 | +2.1% | 5.10% | +17.7% |
| SLB | New | SCHLUMBERGER LIMITED | $320,000 | – | 3,148 | – | 0.16% | – |
| KO | Buy | COCA COLA COMPANY | $309,000 | +32.6% | 7,250 | +31.8% | 0.16% | +46.2% |
| MSFT | New | MICROSOFT CORP | $204,000 | – | 4,400 | – | 0.10% | – |
| DNP | Exit | DNP SELECT INCOME FD | $0 | – | -10,700 | – | -0.05% | – |
| OI | Exit | OWENS ILL INC COM NEW | $0 | – | -26,300 | – | -0.41% | – |
| EXPD | Exit | EXPEDITORS INTL WASH INC | $0 | – | -68,800 | – | -1.38% | – |
| TDC | Exit | TERADATA CORP DEL | $0 | – | -151,860 | – | -2.77% | – |
| XRAY | Exit | DENTSPLY INTL INC | $0 | – | -157,850 | – | -3.40% | – |
| CVE | Exit | CENOVUS ENERGY INC | $0 | – | -407,450 | – | -5.99% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| AL | New | AIR LEASE CORP CL A | $18,623,000 | – | 482,710 | – | 8.46% | – |
| COL | New | ROCKWELL COLLINS INC | $17,003,000 | – | 217,600 | – | 7.72% | – |
| BFB | New | BROWN FORMAN INC CL B | $16,492,000 | – | 175,125 | – | 7.49% | – |
| FAF | New | FIRST AMERICAN FINANCIAL | $16,264,000 | – | 585,240 | – | 7.39% | – |
| DLB | New | DOLBY LABORATORIES INC COM | $15,781,000 | – | 365,300 | – | 7.17% | – |
| INTC | New | INTEL CORP | $15,669,000 | – | 507,100 | – | 7.12% | – |
| GGG | New | GRACO INC | $14,535,000 | – | 186,150 | – | 6.60% | – |
| CNK | New | CINEMARK HOLDINGS INC | $13,911,000 | – | 393,400 | – | 6.32% | – |
| GNTX | New | GENTEX CORP | $13,653,000 | – | 469,350 | – | 6.20% | – |
| CVE | New | CENOVUS ENERGY INC | $13,189,000 | – | 407,450 | – | 5.99% | – |
| LKQ | New | LKQ CORP COM | $12,667,000 | – | 474,600 | – | 5.75% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $12,617,000 | – | 75,350 | – | 5.73% | – |
| NNBR | New | NN INC COM | $9,531,000 | – | 372,600 | – | 4.33% | – |
| ROL | New | ROLLINS INCORPORATED | $9,290,000 | – | 309,675 | – | 4.22% | – |
| XRAY | New | DENTSPLY INTL INC | $7,474,000 | – | 157,850 | – | 3.40% | – |
| TDC | New | TERADATA CORP DEL | $6,105,000 | – | 151,860 | – | 2.77% | – |
| EXPD | New | EXPEDITORS INTL WASH INC | $3,038,000 | – | 68,800 | – | 1.38% | – |
| BRKA | New | BERKSHIRE HATHAWAY INC CL A | $2,279,000 | – | 12 | – | 1.04% | – |
| OI | New | OWENS ILL INC COM NEW | $911,000 | – | 26,300 | – | 0.41% | – |
| CAE | New | CAE INC COM | $516,000 | – | 39,300 | – | 0.23% | – |
| GLW | New | CORNING INC COM | $237,000 | – | 10,800 | – | 0.11% | – |
| KO | New | COCA COLA COMPANY | $233,000 | – | 5,500 | – | 0.11% | – |
| DNP | New | DNP SELECT INCOME FD | $112,000 | – | 10,700 | – | 0.05% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CAE | Exit | CAE INC COM | $0 | – | -30,300 | – | -0.17% | – |
| OXY | Exit | OCCIDENTAL PETROLEUM | $0 | – | -4,600 | – | -0.22% | – |
| DVA | Exit | DAVITA HEALTHCARE PART COM | $0 | – | -8,650 | – | -0.25% | – |
| NOC | Exit | NORTHROP GRUMMAN CORP COM | $0 | – | -9,700 | – | -0.47% | – |
| OI | Exit | OWENS ILL INC COM NEW | $0 | – | -44,900 | – | -0.69% | – |
| WFC | Exit | WELLS FARGO & CO (NEW) | $0 | – | -38,500 | – | -0.81% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY INCDEL CL A | $0 | – | -12 | – | -1.05% | – |
| EXPD | Exit | EXPEDITORS INTL WASH INC | $0 | – | -86,050 | – | -1.94% | – |
| NNBR | Exit | NN INC COM | $0 | – | -288,700 | – | -2.30% | – |
| XRAY | Exit | DENTSPLY INTL INC | $0 | – | -162,150 | – | -3.60% | – |
| CNK | Exit | CINEMARK HOLDINGS INC | $0 | – | -244,700 | – | -3.97% | – |
| ROL | Exit | ROLLINS INCORPORATED | $0 | – | -319,375 | – | -4.33% | – |
| TDC | Exit | TERADATA CORP DEL | $0 | – | -186,085 | – | -5.28% | – |
| CVE | Exit | CENOVUS ENERGY INC | $0 | – | -379,275 | – | -5.79% | – |
| INTC | Exit | INTEL CORP | $0 | – | -505,200 | – | -5.92% | – |
| GNTX | Exit | GENTEX CORP | $0 | – | -472,400 | – | -6.18% | – |
| BFB | Exit | BROWN FORMAN INC CL B | $0 | – | -178,075 | – | -6.20% | – |
| LKQ | Exit | LKQ CORP COM | $0 | – | -411,700 | – | -6.71% | – |
| AL | Exit | AIR LEASE CORP CL A | $0 | – | -479,910 | – | -6.79% | – |
| COL | Exit | ROCKWELL COLLINS INC | $0 | – | -205,553 | – | -7.13% | – |
| GGG | Exit | GRACO INC | $0 | – | -190,950 | – | -7.23% | – |
| FAF | Exit | FIRST AMERICAN FINANCIAL | $0 | – | -589,640 | – | -7.34% | – |
| CME | Exit | CME GROUP INC | $0 | – | -197,015 | – | -7.44% | – |
| VRSK | Exit | VERISK ANALYTICS INC CL A | $0 | – | -246,075 | – | -8.18% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| VRSK | Buy | VERISK ANALYTICS INC CL A | $15,985,000 | +9.1% | 246,075 | +0.2% | 8.18% | -5.6% |
| CME | Buy | CME GROUP INC | $14,555,000 | -2.4% | 197,015 | +0.3% | 7.44% | -15.5% |
| FAF | Buy | FIRST AMERICAN FINANCIAL | $14,358,000 | +11.1% | 589,640 | +0.5% | 7.34% | -3.8% |
| GGG | Sell | GRACO INC | $14,142,000 | +14.9% | 190,950 | -2.0% | 7.23% | -0.5% |
| COL | Sell | ROCKWELL COLLINS INC | $13,949,000 | +5.7% | 205,553 | -1.2% | 7.13% | -8.5% |
| AL | Buy | AIR LEASE CORP CL A | $13,274,000 | +2.4% | 479,910 | +2.1% | 6.79% | -11.3% |
| GNTX | Buy | GENTEX CORP | $12,089,000 | +12.7% | 472,400 | +1.5% | 6.18% | -2.4% |
| INTC | Sell | INTEL CORP | $11,580,000 | -6.1% | 505,200 | -0.8% | 5.92% | -18.7% |
| CVE | Buy | CENOVUS ENERGY INC | $11,321,000 | +5.1% | 379,275 | +0.4% | 5.79% | -9.0% |
| TDC | Buy | TERADATA CORP DEL | $10,317,000 | +17.9% | 186,085 | +6.8% | 5.28% | +2.1% |
| ROL | Sell | ROLLINS INCORPORATED | $8,467,000 | +1.9% | 319,375 | -0.5% | 4.33% | -11.8% |
| CNK | Buy | CINEMARK HOLDINGS INC | $7,767,000 | +186.0% | 244,700 | +151.6% | 3.97% | +147.6% |
| NNBR | Buy | NN INC COM | $4,492,000 | +1221.2% | 288,700 | +868.8% | 2.30% | +1042.8% |
| EXPD | New | EXPEDITORS INTL WASH INC | $3,791,000 | – | 86,050 | – | 1.94% | – |
| WFC | Sell | WELLS FARGO & CO (NEW) | $1,591,000 | -1.4% | 38,500 | -1.5% | 0.81% | -14.6% |
| OI | New | OWENS ILL INC COM NEW | $1,348,000 | – | 44,900 | – | 0.69% | – |
| NOC | New | NORTHROP GRUMMAN CORP COM | $924,000 | – | 9,700 | – | 0.47% | – |
| DVA | New | DAVITA HEALTHCARE PART COM | $492,000 | – | 8,650 | – | 0.25% | – |
| CFR | Exit | CULLEN FROST BANKERS INC COM | $0 | – | -11,250 | – | -0.44% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CME | New | CME GROUP INC | $14,913,000 | – | 196,350 | – | 8.81% | – |
| VRSK | New | VERISK ANALYTICS INC CL A | $14,656,000 | – | 245,500 | – | 8.66% | – |
| COL | New | ROCKWELL COLLINS INC | $13,196,000 | – | 208,103 | – | 7.79% | – |
| AL | New | AIR LEASE CORP CL A | $12,965,000 | – | 469,900 | – | 7.66% | – |
| FAF | New | FIRST AMERICAN FINANCIAL | $12,928,000 | – | 586,590 | – | 7.64% | – |
| INTC | New | INTEL CORP | $12,338,000 | – | 509,200 | – | 7.29% | – |
| GGG | New | GRACO INC | $12,310,000 | – | 194,750 | – | 7.27% | – |
| BFB | New | BROWN FORMAN INC CL B | $12,029,000 | – | 178,075 | – | 7.10% | – |
| CVE | New | CENOVUS ENERGY INC | $10,773,000 | – | 377,750 | – | 6.36% | – |
| GNTX | New | GENTEX CORP | $10,730,000 | – | 465,500 | – | 6.34% | – |
| LKQ | New | LKQ CORP COM | $10,601,000 | – | 411,700 | – | 6.26% | – |
| TDC | New | TERADATA CORP DEL | $8,750,000 | – | 174,200 | – | 5.17% | – |
| ROL | New | ROLLINS INCORPORATED | $8,313,000 | – | 320,975 | – | 4.91% | – |
| XRAY | New | DENTSPLY INTL INC | $6,642,000 | – | 162,150 | – | 3.92% | – |
| CNK | New | CINEMARK HOLDINGS INC | $2,716,000 | – | 97,270 | – | 1.60% | – |
| BRKA | New | BERKSHIRE HATHAWAY INCDEL CL A | $2,023,000 | – | 12 | – | 1.20% | – |
| WFC | New | WELLS FARGO & CO (NEW) | $1,614,000 | – | 39,100 | – | 0.95% | – |
| CFR | New | CULLEN FROST BANKERS INC COM | $751,000 | – | 11,250 | – | 0.44% | – |
| OXY | New | OCCIDENTAL PETROLEUM | $410,000 | – | 4,600 | – | 0.24% | – |
| NNBR | New | NN INC COM | $340,000 | – | 29,800 | – | 0.20% | – |
| CAE | New | CAE INC COM | $314,000 | – | 30,300 | – | 0.18% | – |