STONE RUN CAPITAL, LLC Activity Q4 2011-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MLM	Sell	MARTIN MARIETTA MATLS INC	$9,261,660	-14.2%	22,563	-3.5%	4.54%	-5.3%
	Sell	LINDE PLC	$9,195,184	-4.4%	24,695	-2.2%	4.51%	+5.5%
SPGI	Sell	S&P GLOBAL INC	$8,789,061	-11.2%	24,053	-2.6%	4.31%	-2.0%
ROP	Sell	ROPER TECHNOLOGIES INC	$8,627,933	-6.1%	17,816	-6.8%	4.23%	+3.6%
DHR	Sell	DANAHER CORPORATION	$8,285,796	-1.6%	33,397	-4.8%	4.06%	+8.6%
ADSK	Sell	AUTODESK INC	$8,131,563	+0.7%	39,300	-0.4%	3.99%	+11.2%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$8,056,900	-3.0%	23,000	-5.5%	3.95%	+7.1%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$7,601,155	-2.8%	15,017	+0.2%	3.73%	+7.3%
PAYX	Sell	PAYCHEX INC	$7,078,379	-2.0%	61,375	-5.0%	3.47%	+8.1%
IT	Sell	GARTNER INC	$6,813,786	-5.5%	19,830	-3.6%	3.34%	+4.3%
LII	Sell	LENNOX INTL INC	$6,610,738	+14.8%	17,655	-0.0%	3.24%	+26.7%
STE	Sell	STERIS PLC	$6,506,900	-2.6%	29,655	-0.2%	3.19%	+7.4%
PKI	Buy	REVVITY INC	$6,483,478	+0.9%	58,568	+8.2%	3.18%	+11.3%
BDX	Sell	BECTON DICKINSON & CO	$6,191,794	-27.5%	23,950	-26.0%	3.04%	-20.0%
TECH	Sell	BIO-TECHNE CORP	$5,876,823	-18.3%	86,335	-2.0%	2.88%	-9.9%
MIDD	Buy	MIDDLEBY CORP	$5,407,232	+8.8%	42,244	+25.7%	2.65%	+20.1%
SHW	Sell	SHERWIN WILLIAMS CO	$5,215,772	-9.3%	20,450	-5.5%	2.56%	+0.2%
EW	Buy	EDWARDS LIFESCIENCES CORP	$5,209,856	-26.4%	75,200	+0.2%	2.55%	-18.7%
MKC	Sell	MCCORMICK & CO INC	$4,885,134	-17.1%	64,584	-4.4%	2.40%	-8.6%
APH	Sell	AMPHENOL CORP NEWcl a	$4,375,123	-6.3%	52,091	-5.3%	2.14%	+3.4%
ECL	Buy	ECOLAB INC	$4,073,392	-8.3%	24,046	+1.1%	2.00%	+1.2%
ANET	Sell	ARISTA NETWORKS INC	$3,614,224	+4.0%	19,650	-8.4%	1.77%	+14.8%
EMR	Sell	EMERSON ELEC CO	$3,504,815	-29.2%	36,293	-33.7%	1.72%	-21.8%
XYL	Buy	XYLEM INC	$3,219,731	-19.1%	35,370	+0.1%	1.58%	-10.7%
NDSN	Sell	NORDSON CORP	$3,046,270	-25.4%	13,650	-17.0%	1.49%	-17.7%
GLW	Buy	CORNING INC	$3,000,168	-5.4%	98,463	+8.8%	1.47%	+4.5%
TRMB	Sell	TRIMBLE INC	$2,605,747	-14.5%	48,380	-16.0%	1.28%	-5.7%
XRAY	Sell	DENTSPLY SIRONA INC	$1,502,391	-25.2%	43,981	-12.4%	0.74%	-17.5%
PANW	Sell	PALO ALTO NETWORKS INC	$1,340,293	-14.9%	5,717	-7.3%	0.66%	-6.1%
PTC	Buy	PTC INC	$1,284,612	+1.8%	9,067	+2.3%	0.63%	+12.5%
MMM	Sell	3M CO	$719,844	-12.2%	7,689	-6.1%	0.35%	-3.0%
AIN	New	ALBANY INTL CORPcl a	$699,213	–	8,104	–	0.34%	–
RTX	Buy	RTX CORPORATION	$473,059	+61.0%	6,573	+119.1%	0.23%	+77.1%
FTV	Sell	FORTIVE CORP	$427,458	-56.1%	5,764	-55.7%	0.21%	-51.4%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$413,928	-86.5%	6,072	-84.3%	0.20%	-85.1%
JNJ	Sell	JOHNSON & JOHNSON	$376,915	-12.2%	2,420	-6.7%	0.18%	-3.1%
TFX	Sell	TELEFLEX INCORPORATED	$294,615	-32.4%	1,500	-16.7%	0.14%	-25.8%
XOM	New	EXXON MOBIL CORP	$204,824	–	1,742	–	0.10%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-983	–	-0.09%	–
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CO	$0	–	-5,520	–	-0.11%	–

Q2 2023

			Value		Shares		↓ Weighting
MLM	New	MARTIN MARIETTA MATLS INC	$10,795,697	–	23,383	–	4.80%	–
SPGI	New	S&P GLOBAL INC	$9,900,219	–	24,696	–	4.40%	–
	New	LINDE PLC	$9,620,365	–	25,245	–	4.27%	–
ROP	New	ROPER TECHNOLOGIES INC	$9,188,569	–	19,111	–	4.08%	–
BDX	New	BECTON DICKINSON & CO	$8,546,003	–	32,370	–	3.80%	–
DHR	New	DANAHER CORPORATION	$8,423,280	–	35,097	–	3.74%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$8,303,350	–	24,350	–	3.69%	–
HEI	New	HEICO CORP NEW	$8,080,142	–	45,666	–	3.59%	–
ADSK	New	AUTODESK INC	$8,071,865	–	39,450	–	3.58%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$7,822,076	–	14,992	–	3.47%	–
PAYX	New	PAYCHEX INC	$7,224,005	–	64,575	–	3.21%	–
IT	New	GARTNER INC	$7,209,380	–	20,580	–	3.20%	–
TECH	New	BIO-TECHNE CORP	$7,194,460	–	88,135	–	3.20%	–
EW	New	EDWARDS LIFESCIENCES CORP	$7,077,108	–	75,025	–	3.14%	–
STE	New	STERIS PLC	$6,683,031	–	29,705	–	2.97%	–
PKI	New	REVVITY INC	$6,428,677	–	54,118	–	2.86%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$6,218,342	–	33,845	–	2.76%	–
MKC	New	MCCORMICK & CO INC	$5,895,352	–	67,584	–	2.62%	–
LII	New	LENNOX INTL INC	$5,758,397	–	17,660	–	2.56%	–
SHW	New	SHERWIN WILLIAMS CO	$5,748,508	–	21,650	–	2.55%	–
ANSS	New	ANSYS INC	$5,677,341	–	17,190	–	2.52%	–
MIDD	New	MIDDLEBY CORP	$4,967,679	–	33,604	–	2.21%	–
EMR	New	EMERSON ELEC CO	$4,948,220	–	54,743	–	2.20%	–
FISV	New	FISERV INC	$4,862,704	–	38,547	–	2.16%	–
APH	New	AMPHENOL CORP NEWcl a	$4,671,486	–	54,991	–	2.08%	–
ECL	New	ECOLAB INC	$4,442,475	–	23,796	–	1.97%	–
NDSN	New	NORDSON CORP	$4,082,561	–	16,450	–	1.81%	–
XYL	New	XYLEM INC	$3,980,554	–	35,345	–	1.77%	–
ANET	New	ARISTA NETWORKS INC	$3,476,187	–	21,450	–	1.54%	–
GLW	New	CORNING INC	$3,169,823	–	90,463	–	1.41%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$3,069,946	–	38,572	–	1.36%	–
TRMB	New	TRIMBLE INC	$3,048,285	–	57,580	–	1.35%	–
EPAM	New	EPAM SYS INC	$2,989,175	–	13,300	–	1.33%	–
XRAY	New	DENTSPLY SIRONA INC	$2,008,244	–	50,181	–	0.89%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,893,364	–	51,873	–	0.84%	–
AAPL	New	APPLE INC	$1,693,940	–	8,733	–	0.75%	–
PANW	New	PALO ALTO NETWORKS INC	$1,575,730	–	6,167	–	0.70%	–
PTC	New	PTC INC	$1,261,774	–	8,867	–	0.56%	–
PPG	New	PPG INDS INC	$1,166,881	–	7,690	–	0.52%	–
FTV	New	FORTIVE CORP	$973,057	–	13,014	–	0.43%	–
ISRG	New	INTUITIVE SURGICAL INC	$855,534	–	2,502	–	0.38%	–
MMM	New	3M CO	$819,637	–	8,189	–	0.36%	–
ABBV	New	ABBVIE INC	$592,812	–	4,400	–	0.26%	–
ITW	New	ILLINOIS TOOL WKS INC	$513,578	–	2,053	–	0.23%	–
ABT	New	ABBOTT LABS	$436,080	–	4,000	–	0.19%	–
TFX	New	TELEFLEX INCORPORATED	$435,654	–	1,800	–	0.19%	–
JNJ	New	JOHNSON & JOHNSON	$429,359	–	2,594	–	0.19%	–
CNI	New	CANADIAN NATL RY CO	$397,594	–	3,284	–	0.18%	–
MCD	New	MCDONALDS CORP	$375,997	–	1,260	–	0.17%	–
OKE	New	ONEOK INC NEW	$321,191	–	5,204	–	0.14%	–
APD	New	AIR PRODS & CHEMS INC	$314,506	–	1,050	–	0.14%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$293,880	–	3,000	–	0.13%	–
	New	PROSHARES TRultrashrt s&p500	$264,110	–	7,700	–	0.12%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CO	$251,601	–	5,520	–	0.11%	–
MRK	New	MERCK & CO INC	$247,857	–	2,148	–	0.11%	–
AMGN	New	AMGEN INC	$230,679	–	1,039	–	0.10%	–
CRL	New	CHARLES RIV LABS INTL INC	$206,676	–	983	–	0.09%	–

Q4 2022

			Value		Shares		↓ Weighting
CDAY	Exit	CERIDIAN HCM HLDG INC	$0	–	-3,645	–	-0.11%	–
CLVT	Exit	CLARIVATE PLC	$0	–	-22,070	–	-0.11%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-2,304	–	-0.12%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-1,133	–	-0.12%	–
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CO	$0	–	-5,520	–	-0.12%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-3,460	–	-0.12%	–
D	Exit	DOMINION ENERGY INC	$0	–	-3,410	–	-0.13%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-1,100	–	-0.14%	–
AMGN	Exit	AMGEN INC	$0	–	-1,139	–	-0.14%	–
OKE	Exit	ONEOK INC NEW	$0	–	-5,204	–	-0.14%	–
MRVI	Exit	MARAVAI LIFESCIENCES HLDGS I	$0	–	-10,535	–	-0.14%	–
MCD	Exit	MCDONALDS CORP	$0	–	-1,460	–	-0.18%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,000	–	-0.21%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-3,584	–	-0.21%	–
FTV	Exit	FORTIVE CORP	$0	–	-7,114	–	-0.22%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,594	–	-0.23%	–
TFX	Exit	TELEFLEX INCORPORATED	$0	–	-2,125	–	-0.23%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,403	–	-0.23%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,000	–	-0.29%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-6,573	–	-0.29%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-2,300	–	-0.34%	–
PANW	Exit	PALO ALTO NETWORKS INC	$0	–	-5,727	–	-0.50%	–
PTC	Exit	PTC INC	$0	–	-9,167	–	-0.52%	–
PPG	Exit	PPG INDS INC	$0	–	-7,690	–	-0.52%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-5,302	–	-0.54%	–
GLW	Exit	CORNING INC	$0	–	-41,662	–	-0.65%	–
MMM	Exit	3M CO	$0	–	-11,689	–	-0.70%	–
WWD	Exit	WOODWARD INC	$0	–	-16,750	–	-0.72%	–
AAPL	Exit	APPLE INC	$0	–	-10,733	–	-0.80%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-51,873	–	-1.00%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-21,800	–	-1.33%	–
XYL	Exit	XYLEM INC	$0	–	-34,120	–	-1.61%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-45,547	–	-1.80%	–
APH	Exit	AMPHENOL CORP NEWcl a	$0	–	-53,091	–	-1.92%	–
ECL	Exit	ECOLAB INC	$0	–	-24,996	–	-1.94%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-19,850	–	-2.19%	–
LII	Exit	LENNOX INTL INC	$0	–	-18,560	–	-2.23%	–
FISV	Exit	FISERV INC	$0	–	-45,247	–	-2.28%	–
ANSS	Exit	ANSYS INC	$0	–	-19,190	–	-2.29%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-37,445	–	-2.54%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-66,629	–	-2.56%	–
PKI	Exit	PERKINELMER INC	$0	–	-41,458	–	-2.69%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-57,519	–	-2.82%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-24,671	–	-2.96%	–
STE	Exit	STERIS PLC	$0	–	-33,320	–	-2.98%	–
TECH	Exit	BIO-TECHNE CORP	$0	–	-22,055	–	-3.38%	–
EPAM	Exit	EPAM SYS INC	$0	–	-17,340	–	-3.38%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-76,625	–	-3.41%	–
IT	Exit	GARTNER INC	$0	–	-23,675	–	-3.53%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-25,750	–	-3.70%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-19,512	–	-3.78%	–
LIN	Exit	LINDE PLC	$0	–	-26,795	–	-3.89%	–
PAYX	Exit	PAYCHEX INC	$0	–	-65,475	–	-3.96%	–
ADSK	Exit	AUTODESK INC	$0	–	-39,450	–	-3.97%	–
HEI	Exit	HEICO CORP NEW	$0	–	-53,316	–	-4.14%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-27,346	–	-4.50%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-16,467	–	-4.50%	–
MLM	Exit	MARTIN MARIETTA MATLS INC	$0	–	-27,343	–	-4.75%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-37,299	–	-5.19%	–

Q3 2022

			Value		Shares		↓ Weighting
DHR	Buy	DANAHER CORPORATION	$9,634,000	+1.9%	37,299	+0.0%	5.19%	+9.1%
MLM	Sell	MARTIN MARIETTA MATLS INC	$8,807,000	+7.2%	27,343	-0.4%	4.75%	+14.9%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$8,352,000	-6.6%	16,467	+0.0%	4.50%	+0.1%
ADSK	Sell	AUTODESK INC	$7,370,000	+5.0%	39,450	-3.3%	3.97%	+12.5%
LIN	Sell	LINDE PLC	$7,223,000	-6.5%	26,795	-0.3%	3.89%	+0.2%
ROP	Buy	ROPER TECHNOLOGIES INC	$7,017,000	-8.5%	19,512	+0.4%	3.78%	-2.0%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$6,876,000	-5.8%	25,750	-3.7%	3.70%	+0.8%
IT	Sell	GARTNER INC	$6,551,000	+13.7%	23,675	-0.6%	3.53%	+21.8%
EW	Sell	EDWARDS LIFESCIENCES CORP	$6,332,000	-14.8%	76,625	-1.9%	3.41%	-8.7%
EPAM	Sell	EPAM SYS INC	$6,280,000	+15.8%	17,340	-5.7%	3.38%	+24.1%
TECH	Sell	BIO-TECHNE CORP	$6,264,000	-19.4%	22,055	-1.6%	3.38%	-13.6%
STE	Buy	STERIS PLC	$5,540,000	-12.3%	33,320	+8.7%	2.98%	-6.1%
BDX	Sell	BECTON DICKINSON & CO	$5,498,000	-10.3%	24,671	-0.8%	2.96%	-3.9%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$5,224,000	-31.6%	57,519	-10.2%	2.82%	-26.7%
PKI	Buy	PERKINELMER INC	$4,989,000	-13.6%	41,458	+2.2%	2.69%	-7.4%
MKC	Buy	MCCORMICK & CO INC	$4,749,000	-14.4%	66,629	+0.0%	2.56%	-8.2%
WTS	Buy	WATTS WATER TECHNOLOGIES INCcl a	$4,708,000	+2.4%	37,445	+0.0%	2.54%	+9.7%
ANSS	Sell	ANSYS INC	$4,254,000	-7.8%	19,190	-0.5%	2.29%	-1.3%
FISV	Buy	FISERV INC	$4,234,000	+7.3%	45,247	+2.0%	2.28%	+15.0%
ECL	Buy	ECOLAB INC	$3,610,000	+7.4%	24,996	+14.4%	1.94%	+15.1%
APH	Sell	AMPHENOL CORP NEWcl a	$3,555,000	-0.2%	53,091	-4.0%	1.92%	+7.0%
EMR	Buy	EMERSON ELEC CO	$3,335,000	+3.5%	45,547	+12.4%	1.80%	+10.9%
XYL	Sell	XYLEM INC	$2,981,000	+11.4%	34,120	-0.3%	1.61%	+19.3%
ANET	Buy	ARISTA NETWORKS INC	$2,461,000	+41.9%	21,800	+17.8%	1.33%	+52.1%
AAPL	Sell	APPLE INC	$1,483,000	-14.8%	10,733	-15.7%	0.80%	-8.8%
MMM	Sell	3M CO	$1,292,000	-18.1%	11,689	-4.1%	0.70%	-12.2%
GLW	Sell	CORNING INC	$1,209,000	-10.2%	41,662	-2.4%	0.65%	-3.8%
ISRG	Sell	INTUITIVE SURGICAL INC	$994,000	-32.7%	5,302	-27.9%	0.54%	-27.8%
PTC	Sell	PTC INC	$959,000	-5.7%	9,167	-4.2%	0.52%	+1.0%
PANW	Buy	PALO ALTO NETWORKS INC	$938,000	-0.5%	5,727	+200.0%	0.50%	+6.5%
ADBE	New	ADOBE SYSTEMS INCORPORATED	$633,000	–	2,300	–	0.34%	–
TFX	Buy	TELEFLEX INCORPORATED	$428,000	-3.4%	2,125	+18.1%	0.23%	+3.6%
FTV	Buy	FORTIVE CORP	$415,000	+19.9%	7,114	+11.8%	0.22%	+28.7%
MRVI	Sell	MARAVAI LIFESCIENCES HLDGS I	$269,000	-37.0%	10,535	-29.9%	0.14%	-32.6%
CRL	New	CHARLES RIV LABS INTL INC	$223,000	–	1,133	–	0.12%	–
CLVT	Sell	CLARIVATE PLC	$207,000	-72.9%	22,070	-59.9%	0.11%	-70.8%
CDAY	New	CERIDIAN HCM HLDG INC	$204,000	–	3,645	–	0.11%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-12,441	–	-0.22%	–
NDSN	Exit	NORDSON CORP	$0	–	-6,050	–	-0.62%	–
ROK	Exit	ROCKWELL AUTOMATION INC	$0	–	-8,737	–	-0.88%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-10,100	–	-0.88%	–

Q2 2022

			Value		Shares		↓ Weighting
DHR	New	DANAHER CORPORATION	$9,456,000	–	37,298	–	4.76%	–
SPGI	New	S&P GLOBAL INC	$9,217,000	–	27,346	–	4.64%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$8,943,000	–	16,462	–	4.50%	–
MLM	New	MARTIN MARIETTA MATLS INC	$8,212,000	–	27,443	–	4.13%	–
TECH	New	BIO-TECHNE CORP	$7,767,000	–	22,405	–	3.91%	–
LIN	New	LINDE PLC	$7,725,000	–	26,870	–	3.89%	–
ROP	New	ROPER TECHNOLOGIES INC	$7,671,000	–	19,437	–	3.86%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$7,632,000	–	64,069	–	3.84%	–
PAYX	New	PAYCHEX INC	$7,456,000	–	65,475	–	3.75%	–
EW	New	EDWARDS LIFESCIENCES CORP	$7,429,000	–	78,125	–	3.74%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$7,303,000	–	26,750	–	3.67%	–
ADSK	New	AUTODESK INC	$7,018,000	–	40,810	–	3.53%	–
HEI	New	HEICO CORP NEW	$6,991,000	–	53,316	–	3.52%	–
STE	New	STERIS PLC	$6,318,000	–	30,650	–	3.18%	–
BDX	New	BECTON DICKINSON & CO	$6,131,000	–	24,870	–	3.08%	–
PKI	New	PERKINELMER INC	$5,772,000	–	40,583	–	2.90%	–
IT	New	GARTNER INC	$5,761,000	–	23,825	–	2.90%	–
MKC	New	MCCORMICK & CO INC	$5,545,000	–	66,609	–	2.79%	–
EPAM	New	EPAM SYS INC	$5,421,000	–	18,390	–	2.73%	–
ANSS	New	ANSYS INC	$4,616,000	–	19,290	–	2.32%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$4,598,000	–	37,430	–	2.31%	–
SHW	New	SHERWIN WILLIAMS CO	$4,445,000	–	19,850	–	2.24%	–
FISV	New	FISERV INC	$3,946,000	–	44,347	–	1.98%	–
LII	New	LENNOX INTL INC	$3,834,000	–	18,560	–	1.93%	–
APH	New	AMPHENOL CORP NEWcl a	$3,561,000	–	55,315	–	1.79%	–
ECL	New	ECOLAB INC	$3,360,000	–	21,846	–	1.69%	–
EMR	New	EMERSON ELEC CO	$3,223,000	–	40,521	–	1.62%	–
XYL	New	XYLEM INC	$2,675,000	–	34,220	–	1.35%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,983,000	–	51,873	–	1.00%	–
VRSK	New	VERISK ANALYTICS INC	$1,748,000	–	10,100	–	0.88%	–
AAPL	New	APPLE INC	$1,741,000	–	12,732	–	0.88%	–
ROK	New	ROCKWELL AUTOMATION INC	$1,741,000	–	8,737	–	0.88%	–
ANET	New	ARISTA NETWORKS INC	$1,734,000	–	18,500	–	0.87%	–
MMM	New	3M CO	$1,577,000	–	12,189	–	0.79%	–
WWD	New	WOODWARD INC	$1,550,000	–	16,750	–	0.78%	–
ISRG	New	INTUITIVE SURGICAL INC	$1,476,000	–	7,352	–	0.74%	–
GLW	New	CORNING INC	$1,346,000	–	42,703	–	0.68%	–
NDSN	New	NORDSON CORP	$1,225,000	–	6,050	–	0.62%	–
PPG	New	PPG INDS INC	$1,106,000	–	7,690	–	0.56%	–
PTC	New	PTC INC	$1,017,000	–	9,567	–	0.51%	–
PANW	New	PALO ALTO NETWORKS INC	$943,000	–	1,909	–	0.47%	–
CLVT	New	CLARIVATE PLC	$764,000	–	55,070	–	0.38%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$631,000	–	6,573	–	0.32%	–
ABBV	New	ABBVIE INC	$612,000	–	4,000	–	0.31%	–
JNJ	New	JOHNSON & JOHNSON	$460,000	–	2,594	–	0.23%	–
XRAY	New	DENTSPLY SIRONA INC	$444,000	–	12,441	–	0.22%	–
TFX	New	TELEFLEX INCORPORATED	$443,000	–	1,800	–	0.22%	–
ITW	New	ILLINOIS TOOL WKS INC	$438,000	–	2,403	–	0.22%	–
ABT	New	ABBOTT LABS	$435,000	–	4,000	–	0.22%	–
MRVI	New	MARAVAI LIFESCIENCES HLDGS I	$427,000	–	15,035	–	0.22%	–
CNI	New	CANADIAN NATL RY CO	$403,000	–	3,584	–	0.20%	–
MCD	New	MCDONALDS CORP	$360,000	–	1,460	–	0.18%	–
FTV	New	FORTIVE CORP	$346,000	–	6,364	–	0.17%	–
OKE	New	ONEOK INC NEW	$289,000	–	5,204	–	0.14%	–
AMGN	New	AMGEN INC	$277,000	–	1,139	–	0.14%	–
D	New	DOMINION ENERGY INC	$272,000	–	3,410	–	0.14%	–
APD	New	AIR PRODS & CHEMS INC	$265,000	–	1,100	–	0.13%	–
DUK	New	DUKE ENERGY CORP NEW	$247,000	–	2,304	–	0.12%	–
CP	New	CANADIAN PAC RY LTD	$242,000	–	3,460	–	0.12%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CO	$234,000	–	5,520	–	0.12%	–

Q4 2021

			Value		Shares		↓ Weighting
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CO	$0	–	-3,680	–	-0.08%	–
ABST	Exit	ABSOLUTE SOFTWARE CORP	$0	–	-21,000	–	-0.08%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-2,399	–	-0.08%	–
D	Exit	DOMINION ENERGY INC	$0	–	-3,500	–	-0.09%	–
AMGN	Exit	AMGEN INC	$0	–	-1,350	–	-0.10%	–
OKE	Exit	ONEOK INC NEW	$0	–	-5,450	–	-0.11%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-1,200	–	-0.11%	–
ROL	Exit	ROLLINS INC	$0	–	-11,529	–	-0.14%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-1,057	–	-0.15%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,750	–	-0.15%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,000	–	-0.16%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,000	–	-0.16%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,450	–	-0.17%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,700	–	-0.17%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-4,800	–	-0.19%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-6,600	–	-0.19%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-2,550	–	-0.22%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-43,000	–	-0.23%	–
FTV	Exit	FORTIVE CORP	$0	–	-10,864	–	-0.26%	–
INTC	Exit	INTEL CORP	$0	–	-18,616	–	-0.34%	–
PPG	Exit	PPG INDS INC	$0	–	-7,690	–	-0.37%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,759	–	-0.45%	–
PANW	Exit	PALO ALTO NETWORKS INC	$0	–	-3,124	–	-0.51%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-1,550	–	-0.53%	–
AAPL	Exit	APPLE INC	$0	–	-13,732	–	-0.67%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-34,650	–	-0.67%	–
MMM	Exit	3M CO	$0	–	-12,450	–	-0.75%	–
EVBG	Exit	EVERBRIDGE INC	$0	–	-14,600	–	-0.76%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-7,865	–	-0.93%	–
GLW	Exit	CORNING INC	$0	–	-93,987	–	-1.18%	–
WWD	Exit	WOODWARD INC	$0	–	-34,100	–	-1.32%	–
PTC	Exit	PTC INC	$0	–	-32,775	–	-1.35%	–
CLVT	Exit	CLARIVATE PLC	$0	–	-192,760	–	-1.45%	–
TFX	Exit	TELEFLEX INCORPORATED	$0	–	-12,180	–	-1.57%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-51,039	–	-1.65%	–
XYL	Exit	XYLEM INC	$0	–	-39,070	–	-1.66%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-25,050	–	-1.72%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-92,216	–	-1.84%	–
ECL	Exit	ECOLAB INC	$0	–	-25,745	–	-1.84%	–
APH	Exit	AMPHENOL CORP NEWcl a	$0	–	-73,774	–	-1.85%	–
LII	Exit	LENNOX INTL INC	$0	–	-19,820	–	-2.00%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-20,880	–	-2.00%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-77,600	–	-2.16%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-38,900	–	-2.24%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-29,133	–	-2.46%	–
HEI	Exit	HEICO CORP NEW	$0	–	-55,009	–	-2.49%	–
STE	Exit	STERIS PLC	$0	–	-35,950	–	-2.52%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-27,235	–	-2.55%	–
ANSS	Exit	ANSYS INC	$0	–	-22,040	–	-2.57%	–
PAYX	Exit	PAYCHEX INC	$0	–	-68,462	–	-2.64%	–
IT	Exit	GARTNER INC	$0	–	-26,460	–	-2.76%	–
FISV	Exit	FISERV INC	$0	–	-82,082	–	-3.05%	–
PKI	Exit	PERKINELMER INC	$0	–	-52,280	–	-3.11%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-20,737	–	-3.17%	–
LIN	Exit	LINDE PLC	$0	–	-32,095	–	-3.23%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-72,464	–	-3.32%	–
MLM	Exit	MARTIN MARIETTA MATLS INC	$0	–	-29,255	–	-3.43%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-92,885	–	-3.61%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-19,240	–	-3.77%	–
TECH	Exit	BIO-TECHNE CORP	$0	–	-22,900	–	-3.81%	–
ADSK	Exit	AUTODESK INC	$0	–	-42,360	–	-4.14%	–
EPAM	Exit	EPAM SYS INC	$0	–	-21,460	–	-4.20%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-106,080	–	-4.24%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-40,956	–	-4.28%	–

Q3 2021

			Value		Shares		↓ Weighting
DHR	Sell	DANAHER CORPORATION	$12,469,000	+13.4%	40,956	-0.1%	4.28%	+10.2%
INFO	Buy	IHS MARKIT LTD	$12,371,000	+4.8%	106,080	+1.2%	4.24%	+1.8%
EPAM	Buy	EPAM SYS INC	$12,243,000	+12.4%	21,460	+0.7%	4.20%	+9.3%
ADSK	Buy	AUTODESK INC	$12,080,000	-0.1%	42,360	+2.2%	4.14%	-2.9%
TECH	Sell	BIO-TECHNE CORP	$11,097,000	-5.9%	22,900	-12.6%	3.81%	-8.5%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$10,992,000	+16.6%	19,240	+2.9%	3.77%	+13.3%
EW	Sell	EDWARDS LIFESCIENCES CORP	$10,516,000	+9.1%	92,885	-0.2%	3.61%	+6.1%
MLM	Buy	MARTIN MARIETTA MATLS INC	$9,996,000	-2.1%	29,255	+0.8%	3.43%	-4.9%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$9,690,000	-5.0%	72,464	+6.1%	3.32%	-7.6%
LIN	Buy	LINDE PLC	$9,416,000	+10.7%	32,095	+9.1%	3.23%	+7.6%
ROP	Buy	ROPER TECHNOLOGIES INC	$9,251,000	-1.3%	20,737	+4.1%	3.17%	-4.0%
PKI	Buy	PERKINELMER INC	$9,060,000	+18.1%	52,280	+5.2%	3.11%	+14.8%
FISV	Buy	FISERV INC	$8,906,000	+32.0%	82,082	+30.0%	3.05%	+28.3%
IT	Buy	GARTNER INC	$8,041,000	+27.4%	26,460	+1.5%	2.76%	+23.8%
PAYX	Buy	PAYCHEX INC	$7,698,000	+9.0%	68,462	+4.0%	2.64%	+5.9%
ANSS	Buy	ANSYS INC	$7,504,000	-1.4%	22,040	+0.5%	2.57%	-4.2%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$7,434,000	-0.5%	27,235	+1.3%	2.55%	-3.2%
STE	Sell	STERIS PLC	$7,344,000	-1.3%	35,950	-0.3%	2.52%	-4.0%
HEI	Sell	HEICO CORP NEW	$7,254,000	-8.1%	55,009	-2.9%	2.49%	-10.7%
BDX	Sell	BECTON DICKINSON & CO	$7,162,000	-15.3%	29,133	-16.2%	2.46%	-17.6%
WTS	Sell	WATTS WATER TECHNOLOGIES INCcl a	$6,539,000	+13.6%	38,900	-1.4%	2.24%	+10.5%
MKC	Buy	MCCORMICK & CO INC	$6,288,000	-5.5%	77,600	+3.0%	2.16%	-8.1%
SHW	Buy	SHERWIN WILLIAMS CO	$5,841,000	+6.6%	20,880	+3.8%	2.00%	+3.6%
LII	Buy	LENNOX INTL INC	$5,831,000	-5.8%	19,820	+12.3%	2.00%	-8.4%
APH	Buy	AMPHENOL CORP NEWcl a	$5,402,000	+13.2%	73,774	+5.8%	1.85%	+10.1%
ECL	Buy	ECOLAB INC	$5,371,000	+5.6%	25,745	+4.3%	1.84%	+2.7%
XRAY	Buy	DENTSPLY SIRONA INC	$5,353,000	+6.3%	92,216	+15.9%	1.84%	+3.4%
VRSK	Buy	VERISK ANALYTICS INC	$5,017,000	+18.7%	25,050	+3.5%	1.72%	+15.4%
XYL	Buy	XYLEM INC	$4,832,000	+5.7%	39,070	+2.5%	1.66%	+2.7%
EMR	Sell	EMERSON ELEC CO	$4,808,000	-10.8%	51,039	-8.9%	1.65%	-13.3%
TFX	Sell	TELEFLEX INCORPORATED	$4,586,000	-28.1%	12,180	-23.2%	1.57%	-30.0%
CLVT	Buy	CLARIVATE PLC	$4,221,000	+5.2%	192,760	+32.2%	1.45%	+2.3%
PTC	Sell	PTC INC	$3,926,000	-15.3%	32,775	-0.1%	1.35%	-17.6%
WWD	Sell	WOODWARD INC	$3,860,000	-8.6%	34,100	-0.7%	1.32%	-11.1%
GLW	Buy	CORNING INC	$3,430,000	-8.0%	93,987	+3.1%	1.18%	-10.6%
ANET	Buy	ARISTA NETWORKS INC	$2,703,000	-1.5%	7,865	+3.8%	0.93%	-4.2%
EVBG	Buy	EVERBRIDGE INC	$2,205,000	+19.0%	14,600	+7.2%	0.76%	+15.6%
ISRG	Buy	INTUITIVE SURGICAL INC	$1,541,000	+86.1%	1,550	+72.2%	0.53%	+81.2%
PANW	Buy	PALO ALTO NETWORKS INC	$1,497,000	+72.5%	3,124	+33.4%	0.51%	+67.6%
DIS	Sell	DISNEY WALT CO	$1,313,000	-47.6%	7,759	-45.6%	0.45%	-49.1%
INTC	Sell	INTEL CORP	$992,000	-5.6%	18,616	-0.5%	0.34%	-8.4%
FTV	Buy	FORTIVE CORP	$767,000	+105.1%	10,864	+102.5%	0.26%	+99.2%
GBDC	Sell	GOLUB CAP BDC INC	$680,000	-4.1%	43,000	-6.5%	0.23%	-6.8%
CRL	Buy	CHARLES RIV LABS INTL INC	$436,000	+53.5%	1,057	+37.5%	0.15%	+50.0%
ROL	Sell	ROLLINS INC	$407,000	-56.8%	11,529	-58.2%	0.14%	-57.8%
ABST	Buy	ABSOLUTE SOFTWARE CORP	$231,000	-9.4%	21,000	+19.3%	0.08%	-12.2%

Q2 2021

			Value		Shares		↓ Weighting
ADSK	New	AUTODESK INC	$12,095,000	–	41,435	–	4.27%	–
INFO	New	IHS MARKIT LTD	$11,810,000	–	104,830	–	4.17%	–
TECH	New	BIO-TECHNE CORP	$11,797,000	–	26,200	–	4.16%	–
DHR	New	DANAHER CORPORATION	$10,999,000	–	40,986	–	3.88%	–
EPAM	New	EPAM SYS INC	$10,894,000	–	21,320	–	3.84%	–
MLM	New	MARTIN MARIETTA MATLS INC	$10,213,000	–	29,030	–	3.60%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$10,201,000	–	68,286	–	3.60%	–
EW	New	EDWARDS LIFESCIENCES CORP	$9,635,000	–	93,025	–	3.40%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$9,431,000	–	18,695	–	3.33%	–
ROP	New	ROPER TECHNOLOGIES INC	$9,369,000	–	19,927	–	3.30%	–
LIN	New	LINDE PLC	$8,506,000	–	29,420	–	3.00%	–
BDX	New	BECTON DICKINSON & CO	$8,454,000	–	34,765	–	2.98%	–
HEI	New	HEICO CORP NEW	$7,896,000	–	56,634	–	2.78%	–
PKI	New	PERKINELMER INC	$7,670,000	–	49,675	–	2.71%	–
ANSS	New	ANSYS INC	$7,614,000	–	21,940	–	2.69%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$7,469,000	–	26,875	–	2.64%	–
STE	New	STERIS PLC	$7,437,000	–	36,050	–	2.62%	–
PAYX	New	PAYCHEX INC	$7,065,000	–	65,842	–	2.49%	–
FISV	New	FISERV INC	$6,747,000	–	63,122	–	2.38%	–
MKC	New	MCCORMICK & CO INC	$6,655,000	–	75,350	–	2.35%	–
TFX	New	TELEFLEX INCORPORATED	$6,374,000	–	15,865	–	2.25%	–
IT	New	GARTNER INC	$6,313,000	–	26,066	–	2.23%	–
LII	New	LENNOX INTL INC	$6,192,000	–	17,650	–	2.18%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$5,756,000	–	39,450	–	2.03%	–
SHW	New	SHERWIN WILLIAMS CO	$5,480,000	–	20,115	–	1.93%	–
EMR	New	EMERSON ELEC CO	$5,393,000	–	56,039	–	1.90%	–
ECL	New	ECOLAB INC	$5,085,000	–	24,687	–	1.79%	–
XRAY	New	DENTSPLY SIRONA INC	$5,035,000	–	79,591	–	1.78%	–
APH	New	AMPHENOL CORP NEWcl a	$4,770,000	–	69,726	–	1.68%	–
PTC	New	PTC INC	$4,633,000	–	32,799	–	1.63%	–
XYL	New	XYLEM INC	$4,573,000	–	38,120	–	1.61%	–
VRSK	New	VERISK ANALYTICS INC	$4,228,000	–	24,200	–	1.49%	–
WWD	New	WOODWARD INC	$4,221,000	–	34,350	–	1.49%	–
CLVT	New	CLARIVATE PLC	$4,014,000	–	145,800	–	1.42%	–
GLW	New	CORNING INC	$3,729,000	–	91,180	–	1.32%	–
ANET	New	ARISTA NETWORKS INC	$2,744,000	–	7,575	–	0.97%	–
DIS	New	DISNEY WALT CO	$2,507,000	–	14,261	–	0.88%	–
MMM	New	3M CO	$2,473,000	–	12,450	–	0.87%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,925,000	–	34,650	–	0.68%	–
AAPL	New	APPLE INC	$1,880,000	–	13,732	–	0.66%	–
EVBG	New	EVERBRIDGE INC	$1,853,000	–	13,620	–	0.65%	–
INTC	New	INTEL CORP	$1,051,000	–	18,716	–	0.37%	–
PPG	New	PPG INDS INC	$1,038,000	–	7,690	–	0.37%	–
ROL	New	ROLLINS INC	$942,000	–	27,554	–	0.33%	–
PANW	New	PALO ALTO NETWORKS INC	$868,000	–	2,341	–	0.31%	–
ISRG	New	INTUITIVE SURGICAL INC	$828,000	–	900	–	0.29%	–
APD	New	AIR PRODS & CHEMS INC	$734,000	–	2,550	–	0.26%	–
GBDC	New	GOLUB CAP BDC INC	$709,000	–	46,000	–	0.25%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$563,000	–	6,600	–	0.20%	–
ITW	New	ILLINOIS TOOL WKS INC	$548,000	–	2,450	–	0.19%	–
ABBV	New	ABBVIE INC	$530,000	–	4,700	–	0.19%	–
CNI	New	CANADIAN NATL RY CO	$506,000	–	4,800	–	0.18%	–
ABT	New	ABBOTT LABS	$464,000	–	4,000	–	0.16%	–
MCD	New	MCDONALDS CORP	$462,000	–	2,000	–	0.16%	–
JNJ	New	JOHNSON & JOHNSON	$453,000	–	2,750	–	0.16%	–
FTV	New	FORTIVE CORP	$374,000	–	5,364	–	0.13%	–
KSU	New	KANSAS CITY SOUTHERN	$340,000	–	1,200	–	0.12%	–
AMGN	New	AMGEN INC	$329,000	–	1,350	–	0.12%	–
OKE	New	ONEOK INC NEW	$303,000	–	5,450	–	0.11%	–
CRL	New	CHARLES RIV LABS INTL INC	$284,000	–	769	–	0.10%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CO	$278,000	–	3,680	–	0.10%	–
D	New	DOMINION ENERGY INC	$257,000	–	3,500	–	0.09%	–
ABST	New	ABSOLUTE SOFTWARE CORP	$255,000	–	17,600	–	0.09%	–
DUK	New	DUKE ENERGY CORP NEW	$237,000	–	2,399	–	0.08%	–

Q4 2020

			Value		Shares		↓ Weighting
CERN	Exit	CERNER CORP	$0	–	-2,830	–	-0.09%	–
BIPC	Exit	BROOKFIELD INFRASTRUCTURE CO	$0	–	-3,791	–	-0.10%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-1,200	–	-0.10%	–
SPXU	Exit	PROSHARES TRultrapro short s	$0	–	-30,500	–	-0.12%	–
INTC	Exit	INTEL CORP	$0	–	-5,216	–	-0.12%	–
D	Exit	DOMINION ENERGY INC	$0	–	-3,500	–	-0.13%	–
AMGN	Exit	AMGEN INC	$0	–	-1,350	–	-0.16%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-6,600	–	-0.17%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,750	–	-0.19%	–
FTV	Exit	FORTIVE CORP	$0	–	-5,364	–	-0.19%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,700	–	-0.19%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,000	–	-0.20%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,000	–	-0.20%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,450	–	-0.22%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-36,000	–	-0.22%	–
MRK	Exit	MERCK & CO. INC	$0	–	-5,970	–	-0.23%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-4,800	–	-0.23%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-900	–	-0.29%	–
PANW	Exit	PALO ALTO NETWORKS INC	$0	–	-2,704	–	-0.30%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-2,550	–	-0.35%	–
PPG	Exit	PPG INDS INC	$0	–	-7,690	–	-0.49%	–
ROL	Exit	ROLLINS INC	$0	–	-21,650	–	-0.54%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-6,835	–	-0.54%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-6,200	–	-0.59%	–
AAPL	Exit	APPLE INC	$0	–	-12,893	–	-0.68%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-37,650	–	-0.82%	–
MMM	Exit	3M CO	$0	–	-12,450	–	-0.91%	–
PTC	Exit	PTC INC	$0	–	-35,429	–	-1.34%	–
WWD	Exit	WOODWARD INC	$0	–	-38,750	–	-1.42%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-73,580	–	-1.47%	–
XYL	Exit	XYLEM INC	$0	–	-38,520	–	-1.48%	–
GLW	Exit	CORNING INC	$0	–	-114,863	–	-1.70%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-58,138	–	-1.74%	–
APH	Exit	AMPHENOL CORP NEWcl a	$0	–	-37,463	–	-1.85%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-41,650	–	-1.91%	–
IT	Exit	GARTNER INC	$0	–	-34,847	–	-1.99%	–
TFX	Exit	TELEFLEX INCORPORATED	$0	–	-13,300	–	-2.07%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-6,805	–	-2.17%	–
LII	Exit	LENNOX INTL INC	$0	–	-18,550	–	-2.31%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-41,484	–	-2.32%	–
ECL	Exit	ECOLAB INC	$0	–	-26,072	–	-2.38%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-24,900	–	-2.42%	–
PAYX	Exit	PAYCHEX INC	$0	–	-67,462	–	-2.46%	–
FISV	Exit	FISERV INC	$0	–	-54,300	–	-2.56%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-30,400	–	-2.58%	–
LIN	Exit	LINDE PLC	$0	–	-24,745	–	-2.69%	–
STE	Exit	STERIS PLC	$0	–	-34,150	–	-2.75%	–
HEI	Exit	HEICO CORP NEW	$0	–	-59,204	–	-2.83%	–
PKI	Exit	PERKINELMER INC	$0	–	-50,800	–	-2.91%	–
TECH	Exit	BIO-TECHNE CORP	$0	–	-28,415	–	-3.22%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-30,734	–	-3.27%	–
MLM	Exit	MARTIN MARIETTA MATLS INC	$0	–	-30,880	–	-3.32%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-37,475	–	-3.32%	–
ANSS	Exit	ANSYS INC	$0	–	-22,465	–	-3.36%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-93,225	–	-3.40%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-20,431	–	-3.69%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-107,780	–	-3.87%	–
EPAM	Exit	EPAM SYS INC	$0	–	-26,515	–	-3.92%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-20,255	–	-4.09%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-42,336	–	-4.17%	–
ADSK	Exit	AUTODESK INC	$0	–	-44,160	–	-4.66%	–

Q3 2020

			Value		Shares		↓ Weighting
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$8,943,000	+22.9%	20,255	+0.8%	4.09%	+13.5%
EPAM	Sell	EPAM SYS INC	$8,572,000	+28.2%	26,515	-0.1%	3.92%	+18.4%
INFO	Buy	IHS MARKIT LTD	$8,461,000	+4.2%	107,780	+0.2%	3.87%	-3.8%
EW	Sell	EDWARDS LIFESCIENCES CORP	$7,441,000	+14.8%	93,225	-0.6%	3.40%	+6.0%
ANSS	Sell	ANSYS INC	$7,351,000	+10.9%	22,465	-1.1%	3.36%	+2.5%
MKC	Sell	MCCORMICK & CO INC	$7,274,000	+8.0%	37,475	-0.2%	3.32%	-0.2%
MLM	Sell	MARTIN MARIETTA MATLS INC	$7,268,000	+7.7%	30,880	-5.4%	3.32%	-0.4%
BDX	Buy	BECTON DICKINSON & CO	$7,151,000	+1.5%	30,734	+4.4%	3.27%	-6.2%
TECH	Buy	BIO-TECHNE CORP	$7,040,000	-5.9%	28,415	+0.3%	3.22%	-13.1%
PKI	Buy	PERKINELMER INC	$6,376,000	+29.9%	50,800	+1.5%	2.91%	+20.0%
HEI	Buy	HEICO CORP NEW	$6,196,000	+5.1%	59,204	+0.1%	2.83%	-2.9%
STE	Sell	STERIS PLC	$6,017,000	+14.5%	34,150	-0.3%	2.75%	+5.8%
LIN	Sell	LINDE PLC	$5,893,000	+6.7%	24,745	-5.0%	2.69%	-1.4%
VRSK	Sell	VERISK ANALYTICS INC	$5,633,000	+0.8%	30,400	-7.5%	2.58%	-6.9%
FISV	Buy	FISERV INC	$5,596,000	+15.2%	54,300	+9.1%	2.56%	+6.5%
PAYX	Sell	PAYCHEX INC	$5,382,000	+3.5%	67,462	-1.7%	2.46%	-4.4%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$5,302,000	+0.3%	24,900	-15.9%	2.42%	-7.3%
ECL	Sell	ECOLAB INC	$5,210,000	+0.3%	26,072	-0.2%	2.38%	-7.4%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$5,080,000	-8.1%	41,484	-8.0%	2.32%	-15.0%
IT	Buy	GARTNER INC	$4,354,000	+31.7%	34,847	+27.9%	1.99%	+21.6%
WTS	Sell	WATTS WATER TECHNOLOGIES INCcl a	$4,171,000	+22.7%	41,650	-0.7%	1.91%	+13.4%
APH	Sell	AMPHENOL CORP NEWcl a	$4,056,000	+5.2%	37,463	-7.0%	1.85%	-2.8%
EMR	Sell	EMERSON ELEC CO	$3,812,000	+4.4%	58,138	-1.3%	1.74%	-3.6%
GLW	Sell	CORNING INC	$3,722,000	+4.3%	114,863	-16.7%	1.70%	-3.7%
XYL	Sell	XYLEM INC	$3,240,000	+25.1%	38,520	-3.4%	1.48%	+15.6%
XRAY	Sell	DENTSPLY SIRONA INC	$3,217,000	-19.1%	73,580	-18.5%	1.47%	-25.3%
WWD	Buy	WOODWARD INC	$3,106,000	+4.2%	38,750	+0.8%	1.42%	-3.7%
PTC	Sell	PTC INC	$2,931,000	-16.5%	35,429	-21.5%	1.34%	-22.9%
AAPL	Buy	APPLE INC	$1,493,000	+9.6%	12,893	+245.4%	0.68%	+1.2%
ANET	New	ARISTA NETWORKS INC	$1,283,000	–	6,200	–	0.59%	–
ROL	Sell	ROLLINS INC	$1,173,000	+14.1%	21,650	-10.7%	0.54%	+5.3%
PANW	New	PALO ALTO NETWORKS INC	$662,000	–	2,704	–	0.30%	–
GBDC	Buy	GOLUB CAP BDC INC	$477,000	+16.9%	36,000	+2.9%	0.22%	+7.9%
SPXU	New	PROSHARES TRultrapro short s	$265,000	–	30,500	–	0.12%	–
KSU	New	KANSAS CITY SOUTHERN	$217,000	–	1,200	–	0.10%	–
BIPC	New	BROOKFIELD INFRASTRUCTURE CO	$210,000	–	3,791	–	0.10%	–
CERN	Sell	CERNER CORP	$205,000	-85.0%	2,830	-85.8%	0.09%	-86.1%
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-5,650	–	-0.32%	–

Q2 2020

			Value		Shares		↓ Weighting
ADSK	New	AUTODESK INC	$10,563,000	–	44,160	–	5.23%	–
INFO	New	IHS MARKIT LTD	$8,122,000	–	107,580	–	4.02%	–
ROP	New	ROPER TECHNOLOGIES INC	$7,932,000	–	20,431	–	3.92%	–
DHR	New	DANAHER CORPORATION	$7,486,000	–	42,336	–	3.70%	–
TECH	New	BIO-TECHNE CORP	$7,484,000	–	28,340	–	3.70%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$7,279,000	–	20,090	–	3.60%	–
BDX	New	BECTON DICKINSON & CO	$7,044,000	–	29,443	–	3.48%	–
MLM	New	MARTIN MARIETTA MATLS INC	$6,746,000	–	32,655	–	3.34%	–
MKC	New	MCCORMICK & CO INC	$6,737,000	–	37,550	–	3.33%	–
EPAM	New	EPAM SYS INC	$6,686,000	–	26,530	–	3.31%	–
ANSS	New	ANSYS INC	$6,627,000	–	22,715	–	3.28%	–
EW	New	EDWARDS LIFESCIENCES CORP	$6,484,000	–	93,825	–	3.21%	–
HEI	New	HEICO CORP NEW	$5,895,000	–	59,154	–	2.92%	–
VRSK	New	VERISK ANALYTICS INC	$5,591,000	–	32,850	–	2.77%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$5,525,000	–	45,114	–	2.73%	–
LIN	New	LINDE PLC	$5,524,000	–	26,045	–	2.73%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$5,284,000	–	29,600	–	2.61%	–
STE	New	STERIS PLC	$5,255,000	–	34,250	–	2.60%	–
PAYX	New	PAYCHEX INC	$5,201,000	–	68,662	–	2.57%	–
ECL	New	ECOLAB INC	$5,197,000	–	26,122	–	2.57%	–
PKI	New	PERKINELMER INC	$4,909,000	–	50,050	–	2.43%	–
FISV	New	FISERV INC	$4,857,000	–	49,750	–	2.40%	–
TFX	New	TELEFLEX INCORPORATED	$4,841,000	–	13,300	–	2.40%	–
LII	New	LENNOX INTL INC	$4,322,000	–	18,550	–	2.14%	–
XRAY	New	DENTSPLY SIRONA INC	$3,977,000	–	90,280	–	1.97%	–
SHW	New	SHERWIN WILLIAMS CO	$3,932,000	–	6,805	–	1.94%	–
APH	New	AMPHENOL CORP NEWcl a	$3,857,000	–	40,263	–	1.91%	–
EMR	New	EMERSON ELEC CO	$3,652,000	–	58,887	–	1.81%	–
GLW	New	CORNING INC	$3,570,000	–	137,856	–	1.77%	–
PTC	New	PTC INC	$3,511,000	–	45,129	–	1.74%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$3,398,000	–	41,950	–	1.68%	–
IT	New	GARTNER INC	$3,306,000	–	27,247	–	1.64%	–
WWD	New	WOODWARD INC	$2,982,000	–	38,450	–	1.48%	–
XYL	New	XYLEM INC	$2,590,000	–	39,870	–	1.28%	–
MMM	New	3M CO	$1,942,000	–	12,450	–	0.96%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,548,000	–	37,650	–	0.77%	–
CERN	New	CERNER CORP	$1,363,000	–	19,880	–	0.67%	–
AAPL	New	APPLE INC	$1,362,000	–	3,733	–	0.67%	–
ROL	New	ROLLINS INC	$1,028,000	–	24,250	–	0.51%	–
PPG	New	PPG INDS INC	$919,000	–	7,690	–	0.46%	–
VAR	New	VARIAN MED SYS INC	$838,000	–	6,835	–	0.42%	–
DGX	New	QUEST DIAGNOSTICS INC	$644,000	–	5,650	–	0.32%	–
APD	New	AIR PRODS & CHEMS INC	$616,000	–	2,550	–	0.30%	–
ISRG	New	INTUITIVE SURGICAL INC	$513,000	–	900	–	0.25%	–
ABBV	New	ABBVIE INC	$462,000	–	4,700	–	0.23%	–
MRK	New	MERCK & CO. INC	$462,000	–	5,970	–	0.23%	–
ITW	New	ILLINOIS TOOL WKS INC	$428,000	–	2,450	–	0.21%	–
CNI	New	CANADIAN NATL RY CO	$425,000	–	4,800	–	0.21%	–
GBDC	New	GOLUB CAP BDC INC	$408,000	–	35,000	–	0.20%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$407,000	–	6,600	–	0.20%	–
JNJ	New	JOHNSON & JOHNSON	$386,000	–	2,750	–	0.19%	–
MCD	New	MCDONALDS CORP	$369,000	–	2,000	–	0.18%	–
ABT	New	ABBOTT LABS	$366,000	–	4,000	–	0.18%	–
FTV	New	FORTIVE CORP	$363,000	–	5,364	–	0.18%	–
AMGN	New	AMGEN INC	$318,000	–	1,350	–	0.16%	–
INTC	New	INTEL CORP	$313,000	–	5,216	–	0.16%	–
D	New	DOMINION ENERGY INC	$284,000	–	3,500	–	0.14%	–

Q4 2019

			Value		Shares		↓ Weighting
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,837	–	-0.11%	–
AMGN	Exit	AMGEN INC	$0	–	-1,350	–	-0.12%	–
INTC	Exit	INTEL CORP	$0	–	-5,160	–	-0.13%	–
D	Exit	DOMINION ENERGY INC	$0	–	-3,500	–	-0.14%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,579	–	-0.15%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,000	–	-0.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,750	–	-0.17%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,800	–	-0.17%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,450	–	-0.18%	–
OKE	Exit	ONEOK INC NEW	$0	–	-5,700	–	-0.20%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,000	–	-0.21%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,250	–	-0.23%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-900	–	-0.23%	–
MRK	Exit	MERCK & CO INC	$0	–	-5,955	–	-0.24%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-2,950	–	-0.31%	–
AAPL	Exit	APPLE INC	$0	–	-3,788	–	-0.40%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-7,135	–	-0.40%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-6,750	–	-0.44%	–
PPG	Exit	PPG INDS INC	$0	–	-7,690	–	-0.46%	–
FTV	Exit	FORTIVE CORP	$0	–	-16,839	–	-0.55%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-37,650	–	-0.89%	–
MMM	Exit	3M CO	$0	–	-12,950	–	-1.01%	–
LIN	Exit	LINDE PLC	$0	–	-13,939	–	-1.29%	–
WAB	Exit	WABTEC CORP	$0	–	-38,501	–	-1.32%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-17,287	–	-1.38%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-25,215	–	-1.40%	–
TRMB	Exit	TRIMBLE INC	$0	–	-78,550	–	-1.45%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-24,850	–	-1.47%	–
PTC	Exit	PTC INC	$0	–	-48,230	–	-1.57%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-15,875	–	-1.57%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-7,430	–	-1.95%	–
GLW	Exit	CORNING INC	$0	–	-144,582	–	-1.96%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-77,775	–	-1.98%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-44,450	–	-1.98%	–
PKI	Exit	PERKINELMER INC	$0	–	-49,050	–	-1.99%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-66,386	–	-2.12%	–
ECL	Exit	ECOLAB INC	$0	–	-23,000	–	-2.17%	–
XYL	Exit	XYLEM INC	$0	–	-58,120	–	-2.20%	–
IT	Exit	GARTNER INC	$0	–	-32,500	–	-2.21%	–
PAYX	Exit	PAYCHEX INC	$0	–	-57,562	–	-2.27%	–
LII	Exit	LENNOX INTL INC	$0	–	-21,800	–	-2.52%	–
WWD	Exit	WOODWARD INC	$0	–	-49,150	–	-2.52%	–
ANSS	Exit	ANSYS INC	$0	–	-25,825	–	-2.72%	–
TFX	Exit	TELEFLEX INC	$0	–	-17,195	–	-2.78%	–
EPAM	Exit	EPAM SYS INC	$0	–	-33,065	–	-2.87%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-50,750	–	-2.97%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-41,050	–	-3.06%	–
FISV	Exit	FISERV INC	$0	–	-62,400	–	-3.08%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-33,847	–	-3.16%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-23,970	–	-3.33%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-49,886	–	-3.43%	–
ADSK	Exit	AUTODESK INC	$0	–	-50,974	–	-3.59%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-30,649	–	-3.69%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-22,313	–	-3.79%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-121,809	–	-3.88%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-38,750	–	-4.06%	–
HEI	Exit	HEICO CORP NEW	$0	–	-76,256	–	-4.54%	–
MLM	Exit	MARTIN MARIETTA MATLS INC	$0	–	-36,795	–	-4.80%	–

Q3 2019

			Value		Shares		↓ Weighting
MLM	Sell	MARTIN MARIETTA MATLS INC	$10,085,000	+5.3%	36,795	-11.6%	4.80%	+9.9%
HEI	Buy	HEICO CORP NEW	$9,523,000	-2.1%	76,256	+4.9%	4.54%	+2.2%
EW	Sell	EDWARDS LIFESCIENCES CORP	$8,522,000	+18.4%	38,750	-0.5%	4.06%	+23.6%
INFO	Sell	IHS MARKIT LTD	$8,146,000	+2.7%	121,809	-2.2%	3.88%	+7.2%
ROP	Sell	ROPER TECHNOLOGIES INC	$7,957,000	-3.5%	22,313	-0.9%	3.79%	+0.7%
BDX	Buy	BECTON DICKINSON & CO	$7,753,000	+1.6%	30,649	+1.2%	3.69%	+6.1%
ADSK	Buy	AUTODESK INC	$7,529,000	-7.5%	50,974	+2.1%	3.59%	-3.4%
DHR	Buy	DANAHER CORPORATION	$7,205,000	+3.3%	49,886	+2.3%	3.43%	+7.8%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$6,982,000	+3.5%	23,970	+4.4%	3.33%	+8.0%
TECH	Sell	BIO TECHNE CORP	$6,623,000	-6.7%	33,847	-0.6%	3.16%	-2.7%
FISV	Buy	FISERV INC	$6,464,000	+18.8%	62,400	+4.5%	3.08%	+23.9%
MKC	Buy	MCCORMICK & CO INC	$6,416,000	+2.2%	41,050	+1.4%	3.06%	+6.7%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$6,227,000	+9.1%	50,750	+29.0%	2.97%	+13.9%
EPAM	Sell	EPAM SYS INC	$6,028,000	+4.2%	33,065	-1.1%	2.87%	+8.7%
TFX	Sell	TELEFLEX INC	$5,842,000	-1.0%	17,195	-3.5%	2.78%	+3.3%
ANSS	Sell	ANSYS INC	$5,717,000	-5.9%	25,825	-12.9%	2.72%	-1.8%
WWD	Sell	WOODWARD INC	$5,299,000	-5.0%	49,150	-0.3%	2.52%	-0.9%
LII	Buy	LENNOX INTL INC	$5,297,000	-7.2%	21,800	+5.1%	2.52%	-3.1%
PAYX	Buy	PAYCHEX INC	$4,764,000	+4.6%	57,562	+4.0%	2.27%	+9.1%
IT	Sell	GARTNER INC	$4,647,000	-13.8%	32,500	-3.0%	2.21%	-10.0%
XYL	Buy	XYLEM INC	$4,628,000	-3.9%	58,120	+1.0%	2.20%	+0.3%
ECL	Buy	ECOLAB INC	$4,555,000	+5.3%	23,000	+5.0%	2.17%	+9.9%
EMR	Sell	EMERSON ELEC CO	$4,439,000	-25.2%	66,386	-25.3%	2.12%	-21.9%
PKI	Buy	PERKINELMER INC	$4,178,000	-10.2%	49,050	+1.6%	1.99%	-6.3%
WTS	Sell	WATTS WATER TECHNOLOGIES INCcl a	$4,167,000	+0.2%	44,450	-0.4%	1.98%	+4.5%
XRAY	Sell	DENTSPLY SIRONA INC	$4,146,000	-28.5%	77,775	-21.7%	1.98%	-25.4%
GLW	Buy	CORNING INC	$4,124,000	+29.5%	144,582	+50.9%	1.96%	+35.1%
SHW	Buy	SHERWIN WILLIAMS CO	$4,086,000	+23.7%	7,430	+3.1%	1.95%	+29.1%
PTC	Sell	PTC INC	$3,288,000	-29.3%	48,230	-6.9%	1.57%	-26.3%
MHK	Sell	MOHAWK INDS INC	$3,083,000	-24.4%	24,850	-10.1%	1.47%	-21.1%
TRMB	Sell	TRIMBLE INC	$3,049,000	-21.6%	78,550	-8.8%	1.45%	-18.1%
MIDD	Sell	MIDDLEBY CORP	$2,947,000	-54.4%	25,215	-47.0%	1.40%	-52.4%
WAB	Sell	WABTEC CORP	$2,767,000	-9.2%	38,501	-9.4%	1.32%	-5.3%
LIN	Sell	LINDE PLC	$2,700,000	-13.0%	13,939	-9.8%	1.29%	-9.2%
GE	Exit	GENERAL ELECTRIC CO	$0	–	-27,220	–	-0.13%	–
EQM	Exit	EQM MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-19,100	–	-0.39%	–

Q2 2019

			Value		Shares		↓ Weighting
HEI	New	HEICO CORP NEW	$9,728,000	–	72,701	–	4.44%	–
MLM	New	MARTIN MARIETTA MATLS INC	$9,578,000	–	41,625	–	4.37%	–
ROP	New	ROPER TECHNOLOGIES INC	$8,245,000	–	22,513	–	3.76%	–
ADSK	New	AUTODESK INC	$8,136,000	–	49,949	–	3.71%	–
INFO	New	IHS MARKIT LTD	$7,934,000	–	124,509	–	3.62%	–
BDX	New	BECTON DICKINSON & CO	$7,629,000	–	30,273	–	3.48%	–
EW	New	EDWARDS LIFESCIENCES CORP	$7,196,000	–	38,950	–	3.28%	–
TECH	New	BIO TECHNE CORP	$7,098,000	–	34,047	–	3.24%	–
DHR	New	DANAHER CORPORATION	$6,972,000	–	48,785	–	3.18%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$6,746,000	–	22,970	–	3.08%	–
MIDD	New	MIDDLEBY CORP	$6,461,000	–	47,615	–	2.95%	–
MKC	New	MCCORMICK & CO INC	$6,278,000	–	40,500	–	2.87%	–
ANSS	New	ANSYS INC	$6,073,000	–	29,650	–	2.77%	–
EMR	New	EMERSON ELEC CO	$5,931,000	–	88,886	–	2.71%	–
TFX	New	TELEFLEX INC	$5,901,000	–	17,820	–	2.69%	–
XRAY	New	DENTSPLY SIRONA INC	$5,800,000	–	99,375	–	2.65%	–
EPAM	New	EPAM SYS INC	$5,785,000	–	33,420	–	2.64%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$5,709,000	–	39,350	–	2.61%	–
LII	New	LENNOX INTL INC	$5,706,000	–	20,750	–	2.60%	–
WWD	New	WOODWARD INC	$5,579,000	–	49,300	–	2.55%	–
FISV	New	FISERV INC	$5,442,000	–	59,700	–	2.48%	–
IT	New	GARTNER INC	$5,391,000	–	33,500	–	2.46%	–
XYL	New	XYLEM INC	$4,815,000	–	57,570	–	2.20%	–
PTC	New	PTC INC	$4,652,000	–	51,830	–	2.12%	–
PKI	New	PERKINELMER INC	$4,653,000	–	48,300	–	2.12%	–
PAYX	New	PAYCHEX INC	$4,556,000	–	55,362	–	2.08%	–
ECL	New	ECOLAB INC	$4,324,000	–	21,900	–	1.97%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$4,160,000	–	44,650	–	1.90%	–
MHK	New	MOHAWK INDS INC	$4,078,000	–	27,650	–	1.86%	–
TRMB	New	TRIMBLE INC	$3,887,000	–	86,175	–	1.78%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$3,384,000	–	15,875	–	1.54%	–
SHW	New	SHERWIN WILLIAMS CO	$3,302,000	–	7,205	–	1.51%	–
GLW	New	CORNING INC	$3,184,000	–	95,826	–	1.45%	–
LIN	New	LINDE PLC	$3,102,000	–	15,450	–	1.42%	–
WAB	New	WABTEC CORP	$3,049,000	–	42,493	–	1.39%	–
LH	New	LABORATORY CORP AMER HLDGS	$2,989,000	–	17,287	–	1.36%	–
MMM	New	3M CO	$2,245,000	–	12,950	–	1.02%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,617,000	–	37,650	–	0.74%	–
FTV	New	FORTIVE CORP	$1,373,000	–	16,839	–	0.63%	–
VAR	New	VARIAN MED SYS INC	$971,000	–	7,135	–	0.44%	–
UTX	New	UNITED TECHNOLOGIES CORP	$879,000	–	6,750	–	0.40%	–
EQM	New	EQM MIDSTREAM PARTNERS LPunit ltd partn	$853,000	–	19,100	–	0.39%	–
PPG	New	PPG INDS INC	$843,000	–	7,690	–	0.38%	–
AAPL	New	APPLE INC	$750,000	–	3,788	–	0.34%	–
APD	New	AIR PRODS & CHEMS INC	$668,000	–	2,950	–	0.30%	–
MRK	New	MERCK & CO INC	$499,000	–	5,955	–	0.23%	–
ISRG	New	INTUITIVE SURGICAL INC	$472,000	–	900	–	0.22%	–
MCD	New	MCDONALDS CORP	$467,000	–	2,250	–	0.21%	–
CNI	New	CANADIAN NATL RY CO	$462,000	–	5,000	–	0.21%	–
OKE	New	ONEOK INC NEW	$392,000	–	5,700	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$383,000	–	2,750	–	0.18%	–
ITW	New	ILLINOIS TOOL WKS INC	$369,000	–	2,450	–	0.17%	–
XOM	New	EXXON MOBIL CORP	$351,000	–	4,579	–	0.16%	–
ABBV	New	ABBVIE INC	$349,000	–	4,800	–	0.16%	–
ABT	New	ABBOTT LABS	$337,000	–	4,000	–	0.15%	–
GE	New	GENERAL ELECTRIC CO	$286,000	–	27,220	–	0.13%	–
D	New	DOMINION ENERGY INC	$271,000	–	3,500	–	0.12%	–
AMGN	New	AMGEN INC	$249,000	–	1,350	–	0.11%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$250,000	–	3,837	–	0.11%	–
INTC	New	INTEL CORP	$247,000	–	5,160	–	0.11%	–

Q4 2018

			Value		Shares		↓ Weighting
HMHC	Exit	HOUGHTON MIFFLIN HARCOURT CO	$0	–	-17,000	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-5,160	–	-0.11%	–
D	Exit	DOMINION ENERGY INC	$0	–	-3,500	–	-0.11%	–
BEP	Exit	BROOKFIELD RENEWABLE PARTNERpartnership unit	$0	–	-8,500	–	-0.12%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-3,837	–	-0.12%	–
EQT	Exit	EQT CORP	$0	–	-6,244	–	-0.13%	–
AMGN	Exit	AMGEN INC	$0	–	-1,350	–	-0.13%	–
ABT	Exit	ABBOTT LABS	$0	–	-4,050	–	-0.14%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,450	–	-0.16%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,250	–	-0.17%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,750	–	-0.17%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,050	–	-0.18%	–
OKE	Exit	ONEOK INC NEW	$0	–	-5,700	–	-0.18%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,579	–	-0.18%	–
MRK	Exit	MERCK & CO INC	$0	–	-5,944	–	-0.19%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,000	–	-0.21%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-900	–	-0.24%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-3,150	–	-0.24%	–
MTX	Exit	MINERALS TECHNOLOGIES INC	$0	–	-8,300	–	-0.26%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-8,897	–	-0.26%	–
PPG	Exit	PPG INDS INC	$0	–	-9,190	–	-0.35%	–
AAPL	Exit	APPLE INC	$0	–	-3,788	–	-0.39%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-8,135	–	-0.42%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-6,750	–	-0.43%	–
EQM	Exit	EQT MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-19,600	–	-0.48%	–
KEX	Exit	KIRBY CORP	$0	–	-13,900	–	-0.52%	–
GLW	Exit	CORNING INC	$0	–	-35,609	–	-0.58%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-21,743	–	-0.61%	–
FTV	Exit	FORTIVE CORP	$0	–	-16,839	–	-0.65%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-38,000	–	-0.70%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-218,507	–	-1.13%	–
CERN	Exit	CERNER CORP	$0	–	-39,600	–	-1.17%	–
WBT	Exit	WELBILT INC	$0	–	-134,679	–	-1.29%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-78,475	–	-1.36%	–
MMM	Exit	3M CO	$0	–	-14,350	–	-1.39%	–
NLSN	Exit	NIELSEN HLDGS PLC	$0	–	-114,000	–	-1.45%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-16,000	–	-1.57%	–
ECL	Exit	ECOLAB INC	$0	–	-22,025	–	-1.59%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-21,387	–	-1.70%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-8,205	–	-1.72%	–
FISV	Exit	FISERV INC	$0	–	-48,900	–	-1.85%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-38,535	–	-1.92%	–
TRMB	Exit	TRIMBLE INC	$0	–	-97,170	–	-1.94%	–
PKI	Exit	PERKINELMER INC	$0	–	-44,400	–	-1.98%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-34,765	–	-2.06%	–
WWD	Exit	WOODWARD INC	$0	–	-56,175	–	-2.09%	–
WAB	Exit	WABTEC CORP	$0	–	-43,346	–	-2.09%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-55,500	–	-2.12%	–
XYL	Exit	XYLEM INC	$0	–	-57,770	–	-2.12%	–
EPAM	Exit	EPAM SYS INC	$0	–	-33,750	–	-2.13%	–
LII	Exit	LENNOX INTL INC	$0	–	-21,750	–	-2.18%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-27,480	–	-2.21%	–
TFX	Exit	TELEFLEX INC	$0	–	-19,070	–	-2.33%	–
MLM	Exit	MARTIN MARIETTA MATLS INC	$0	–	-28,575	–	-2.39%	–
PAYX	Exit	PAYCHEX INC	$0	–	-73,262	–	-2.48%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-39,700	–	-2.54%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-42,200	–	-2.55%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-24,270	–	-2.72%	–
IT	Exit	GARTNER INC	$0	–	-37,750	–	-2.75%	–
PTC	Exit	PTC INC	$0	–	-57,250	–	-2.79%	–
PX	Exit	PRAXAIR INC	$0	–	-39,175	–	-2.89%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-89,865	–	-3.16%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-23,988	–	-3.26%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-35,250	–	-3.30%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-136,979	–	-3.39%	–
HEI	Exit	HEICO CORP NEW	$0	–	-81,898	–	-3.48%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-46,950	–	-3.75%	–
ADSK	Exit	AUTODESK INC	$0	–	-57,024	–	-4.09%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-38,239	–	-4.58%	–

Q3 2018

			Value		Shares		↓ Weighting
BDX	Sell	BECTON DICKINSON & CO	$9,981,000	+8.9%	38,239	-0.1%	4.58%	-5.2%
ADSK	Sell	AUTODESK INC	$8,902,000	+19.0%	57,024	-0.1%	4.09%	+3.7%
HEI	Sell	HEICO CORP NEW	$7,585,000	+26.9%	81,898	-0.1%	3.48%	+10.6%
TECH	Sell	BIO TECHNE CORP	$7,195,000	+30.5%	35,250	-5.4%	3.30%	+13.7%
ROP	Sell	ROPER TECHNOLOGIES INC	$7,106,000	+7.1%	23,988	-0.2%	3.26%	-6.7%
EMR	Buy	EMERSON ELEC CO	$6,882,000	+11.4%	89,865	+0.6%	3.16%	-2.9%
PX	Sell	PRAXAIR INC	$6,296,000	-4.5%	39,175	-6.0%	2.89%	-16.8%
PTC	Buy	PTC INC	$6,079,000	+13.4%	57,250	+0.2%	2.79%	-1.2%
IT	Sell	GARTNER INC	$5,983,000	+19.1%	37,750	-0.1%	2.75%	+3.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$5,924,000	+17.6%	24,270	-0.2%	2.72%	+2.4%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$5,523,000	+13.2%	39,700	+0.9%	2.54%	-1.4%
PAYX	Sell	PAYCHEX INC	$5,396,000	+3.8%	73,262	-3.7%	2.48%	-9.6%
MLM	New	MARTIN MARIETTA MATLS INC	$5,199,000	–	28,575	–	2.39%	–
TFX	Sell	TELEFLEX INC	$5,074,000	-6.0%	19,070	-5.2%	2.33%	-18.1%
MHK	Sell	MOHAWK INDS INC	$4,819,000	-19.9%	27,480	-2.1%	2.21%	-30.2%
WTS	Buy	WATTS WATER TECHNOLOGIES INCcl a	$4,606,000	+6.1%	55,500	+0.2%	2.12%	-7.6%
WAB	Buy	WABTEC CORP	$4,546,000	+6.4%	43,346	+0.0%	2.09%	-7.3%
WWD	Sell	WOODWARD INC	$4,542,000	+2.9%	56,175	-2.2%	2.09%	-10.4%
PKI	Sell	PERKINELMER INC	$4,319,000	+31.6%	44,400	-0.9%	1.98%	+14.7%
TRMB	Buy	TRIMBLE INC	$4,223,000	+41.3%	97,170	+6.8%	1.94%	+23.0%
DHR	Sell	DANAHER CORP DEL	$4,187,000	+9.7%	38,535	-0.4%	1.92%	-4.4%
FISV	Buy	FISERV INC	$4,028,000	+12.1%	48,900	+0.8%	1.85%	-2.3%
LH	Buy	LABORATORY CORP AMER HLDGS	$3,714,000	-2.6%	21,387	+0.7%	1.70%	-15.2%
NLSN	New	NIELSEN HLDGS PLC	$3,153,000	–	114,000	–	1.45%	–
XRAY	Sell	DENTSPLY SIRONA INC	$2,961,000	-24.1%	78,475	-11.9%	1.36%	-33.8%
WBT	Buy	WELBILT INC	$2,812,000	+148.6%	134,679	+171.6%	1.29%	+116.6%
GE	Buy	GENERAL ELECTRIC CO	$2,467,000	-17.0%	218,507	+0.0%	1.13%	-27.7%
SLB	Buy	SCHLUMBERGER LTD	$1,324,000	-8.9%	21,743	+0.3%	0.61%	-20.6%
GLW	Buy	CORNING INC	$1,257,000	+28.3%	35,609	+0.0%	0.58%	+11.6%
MTX	Sell	MINERALS TECHNOLOGIES INC	$561,000	-12.3%	8,300	-2.4%	0.26%	-23.4%
MRK	Buy	MERCK & CO INC	$422,000	+17.2%	5,944	+0.1%	0.19%	+2.1%
XOM	Buy	EXXON MOBIL CORP	$390,000	+2.9%	4,579	+0.0%	0.18%	-10.5%
ABT	New	ABBOTT LABS	$297,000	–	4,050	–	0.14%	–
INTC	Buy	INTEL CORP	$244,000	-2.0%	5,160	+3.2%	0.11%	-14.5%
HMHC	New	HOUGHTON MIFFLIN HARCOURT CO	$119,000	–	17,000	–	0.06%	–

Q2 2018

			Value		Shares		↓ Weighting
BDX	New	BECTON DICKINSON & CO	$9,167,000	–	38,264	–	4.83%	–
ADSK	New	AUTODESK INC	$7,482,000	–	57,074	–	3.94%	–
INFO	New	IHS MARKIT LTD	$7,067,000	–	136,979	–	3.72%	–
EW	New	EDWARDS LIFESCIENCES CORP	$6,835,000	–	46,950	–	3.60%	–
ROP	New	ROPER TECHNOLOGIES INC	$6,632,000	–	24,038	–	3.50%	–
PX	New	PRAXAIR INC	$6,590,000	–	41,675	–	3.47%	–
EMR	New	EMERSON ELEC CO	$6,177,000	–	89,350	–	3.26%	–
MHK	New	MOHAWK INDS INC	$6,017,000	–	28,080	–	3.17%	–
HEI	New	HEICO CORP NEW	$5,976,000	–	81,947	–	3.15%	–
TECH	New	BIO TECHNE CORP	$5,515,000	–	37,275	–	2.91%	–
TFX	New	TELEFLEX INC	$5,396,000	–	20,120	–	2.84%	–
PTC	New	PTC INC	$5,361,000	–	57,150	–	2.83%	–
PAYX	New	PAYCHEX INC	$5,199,000	–	76,062	–	2.74%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$5,038,000	–	24,320	–	2.66%	–
IT	New	GARTNER INC	$5,024,000	–	37,800	–	2.65%	–
MKC	New	MCCORMICK & CO INC	$4,899,000	–	42,200	–	2.58%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$4,878,000	–	39,350	–	2.57%	–
WWD	New	WOODWARD INC	$4,415,000	–	57,450	–	2.33%	–
LII	New	LENNOX INTL INC	$4,353,000	–	21,750	–	2.30%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$4,343,000	–	55,400	–	2.29%	–
WAB	New	WABTEC CORP	$4,273,000	–	43,345	–	2.25%	–
EPAM	New	EPAM SYS INC	$4,196,000	–	33,750	–	2.21%	–
XRAY	New	DENTSPLY SIRONA INC	$3,899,000	–	89,075	–	2.06%	–
XYL	New	XYLEM INC	$3,893,000	–	57,770	–	2.05%	–
DHR	New	DANAHER CORP DEL	$3,816,000	–	38,675	–	2.01%	–
LH	New	LABORATORY CORP AMER HLDGS	$3,813,000	–	21,237	–	2.01%	–
MIDD	New	MIDDLEBY CORP	$3,630,000	–	34,765	–	1.91%	–
FISV	New	FISERV INC	$3,593,000	–	48,500	–	1.89%	–
SHW	New	SHERWIN WILLIAMS CO	$3,344,000	–	8,205	–	1.76%	–
PKI	New	PERKINELMER INC	$3,281,000	–	44,800	–	1.73%	–
ECL	New	ECOLAB INC	$3,091,000	–	22,025	–	1.63%	–
TRMB	New	TRIMBLE INC	$2,989,000	–	91,020	–	1.58%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,986,000	–	16,000	–	1.57%	–
GE	New	GENERAL ELECTRIC CO	$2,974,000	–	218,497	–	1.57%	–
MMM	New	3M CO	$2,822,000	–	14,350	–	1.49%	–
CERN	New	CERNER CORP	$2,368,000	–	39,600	–	1.25%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,459,000	–	38,000	–	0.77%	–
SLB	New	SCHLUMBERGER LTD	$1,453,000	–	21,675	–	0.77%	–
FTV	New	FORTIVE CORP	$1,298,000	–	16,839	–	0.68%	–
KEX	New	KIRBY CORP	$1,162,000	–	13,900	–	0.61%	–
WBT	New	WELBILT INC	$1,131,000	–	49,579	–	0.60%	–
EQM	New	EQT MIDSTREAM PARTNERS LPunit ltd partn	$1,011,000	–	19,600	–	0.53%	–
GLW	New	CORNING INC	$980,000	–	35,604	–	0.52%	–
VAR	New	VARIAN MED SYS INC	$925,000	–	8,135	–	0.49%	–
UTX	New	UNITED TECHNOLOGIES CORP	$844,000	–	6,750	–	0.44%	–
PPG	New	PPG INDS INC	$717,000	–	9,190	–	0.38%	–
AAPL	New	APPLE INC	$701,000	–	3,788	–	0.37%	–
MTX	New	MINERALS TECHNOLOGIES INC	$640,000	–	8,500	–	0.34%	–
DWDP	New	DOWDUPONT INC	$586,000	–	8,897	–	0.31%	–
APD	New	AIR PRODS & CHEMS INC	$491,000	–	3,150	–	0.26%	–
ISRG	New	INTUITIVE SURGICAL INC	$431,000	–	900	–	0.23%	–
CNI	New	CANADIAN NATL RY CO	$409,000	–	5,000	–	0.22%	–
OKE	New	ONEOK INC NEW	$398,000	–	5,700	–	0.21%	–
XOM	New	EXXON MOBIL CORP	$379,000	–	4,578	–	0.20%	–
ABBV	New	ABBVIE INC	$375,000	–	4,050	–	0.20%	–
MRK	New	MERCK & CO INC	$360,000	–	5,939	–	0.19%	–
MCD	New	MCDONALDS CORP	$353,000	–	2,250	–	0.19%	–
EQT	New	EQT CORP	$344,000	–	6,244	–	0.18%	–
ITW	New	ILLINOIS TOOL WKS INC	$339,000	–	2,450	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$334,000	–	2,750	–	0.18%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$266,000	–	3,837	–	0.14%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERpartnership unit	$255,000	–	8,500	–	0.13%	–
AMGN	New	AMGEN INC	$249,000	–	1,350	–	0.13%	–
INTC	New	INTEL CORP	$249,000	–	5,000	–	0.13%	–
D	New	DOMINION ENERGY INC	$239,000	–	3,500	–	0.13%	–

Q4 2017

			Value		Shares		↓ Weighting
PLPM	Exit	PLANET PAYMENT INC	$0	–	-25,000	–	-0.06%	–
PPG	Exit	PPG INDS INC	$0	–	-2,000	–	-0.11%	–
PEP	Exit	PEPSICO INC	$0	–	-2,000	–	-0.12%	–
AMGN	Exit	AMGEN INC	$0	–	-1,350	–	-0.13%	–
D	Exit	DOMINION ENERGY INC	$0	–	-3,500	–	-0.14%	–
BEP	Exit	BROOKFIELD RENEWABLE PARTNERpartnership unit	$0	–	-8,500	–	-0.15%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-300	–	-0.16%	–
OKE	Exit	ONEOK INC NEW	$0	–	-5,700	–	-0.16%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,250	–	-0.18%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,450	–	-0.19%	–
MRK	Exit	MERCK & CO INC	$0	–	-5,939	–	-0.20%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,300	–	-0.20%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,000	–	-0.20%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,000	–	-0.21%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-7,837	–	-0.24%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-3,150	–	-0.24%	–
SPXU	Exit	PROSHARES TRultrapro short s	$0	–	-38,000	–	-0.27%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-8,615	–	-0.31%	–
EQT	Exit	EQT CORP	$0	–	-9,244	–	-0.31%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-26,555	–	-0.33%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-7,986	–	-0.34%	–
AAPL	Exit	APPLE INC	$0	–	-3,788	–	-0.35%	–
TWM	Exit	PROSHARES TRultsht russ2000	$0	–	-40,500	–	-0.39%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-8,135	–	-0.42%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-7,250	–	-0.43%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-23,250	–	-0.46%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-10,160	–	-0.48%	–
KEX	Exit	KIRBY CORP	$0	–	-15,000	–	-0.51%	–
GLW	Exit	CORNING INC	$0	–	-35,502	–	-0.55%	–
FTV	Exit	FORTIVE CORP	$0	–	-16,839	–	-0.61%	–
EQM	Exit	EQT MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-21,100	–	-0.81%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-39,000	–	-0.86%	–
MON	Exit	MONSANTO CO NEW	$0	–	-18,436	–	-1.14%	–
MTX	Exit	MINERALS TECHNOLOGIES INC	$0	–	-37,425	–	-1.36%	–
FISV	Exit	FISERV INC	$0	–	-21,750	–	-1.44%	–
ECL	Exit	ECOLAB INC	$0	–	-21,825	–	-1.44%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-19,187	–	-1.49%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-8,280	–	-1.52%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-111,545	–	-1.53%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-16,500	–	-1.56%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-35,380	–	-1.56%	–
PKI	Exit	PERKINELMER INC	$0	–	-45,100	–	-1.60%	–
MMM	Exit	3M CO	$0	–	-15,350	–	-1.66%	–
IT	Exit	GARTNER INC	$0	–	-26,000	–	-1.66%	–
PTC	Exit	PTC INC	$0	–	-59,240	–	-1.71%	–
EPAM	Exit	EPAM SYS INC	$0	–	-38,500	–	-1.74%	–
CERN	Exit	CERNER CORP	$0	–	-49,500	–	-1.82%	–
PAYX	Exit	PAYCHEX INC	$0	–	-59,612	–	-1.84%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-57,250	–	-2.04%	–
TRMB	Exit	TRIMBLE INC	$0	–	-104,970	–	-2.12%	–
WWD	Exit	WOODWARD INC	$0	–	-53,500	–	-2.13%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-42,275	–	-2.23%	–
WAB	Exit	WABTEC CORP	$0	–	-59,525	–	-2.32%	–
LII	Exit	LENNOX INTL INC	$0	–	-25,500	–	-2.35%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-24,245	–	-2.36%	–
XYL	Exit	XYLEM INC	$0	–	-75,920	–	-2.44%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-69,625	–	-2.50%	–
HEI	Exit	HEICO CORP NEW	$0	–	-55,436	–	-2.56%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-42,925	–	-2.67%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-88,165	–	-2.71%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-51,350	–	-2.88%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-40,175	–	-2.95%	–
TFX	Exit	TELEFLEX INC	$0	–	-23,820	–	-2.96%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-31,180	–	-3.14%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-25,313	–	-3.17%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-141,592	–	-3.21%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-25,725	–	-3.27%	–
ADSK	Exit	AUTODESK INC	$0	–	-57,074	–	-3.29%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-106,250	–	-3.43%	–
PX	Exit	PRAXAIR INC	$0	–	-47,775	–	-3.43%	–
BCR	Exit	BARD C R INC	$0	–	-28,300	–	-4.66%	–

Q3 2017

			Value		Shares		↓ Weighting
EMR	Buy	EMERSON ELEC CO	$6,677,000	+30.0%	106,250	+23.3%	3.43%	+21.0%
ADSK	Buy	AUTODESK INC	$6,407,000	+11.9%	57,074	+0.5%	3.29%	+4.1%
INFO	Sell	IHS MARKIT LTD	$6,242,000	-0.1%	141,592	-0.2%	3.21%	-7.0%
ROP	Sell	ROPER TECHNOLOGIES INC	$6,161,000	+4.7%	25,313	-0.4%	3.17%	-2.6%
BDX	Buy	BECTON DICKINSON & CO	$6,109,000	+1.1%	31,180	+0.6%	3.14%	-6.0%
TFX	Sell	TELEFLEX INC	$5,764,000	+14.5%	23,820	-1.7%	2.96%	+6.6%
SLB	Buy	SCHLUMBERGER LTD	$4,858,000	+14.2%	69,625	+7.7%	2.50%	+6.2%
XYL	Sell	XYLEM INC	$4,755,000	+12.3%	75,920	-0.7%	2.44%	+4.4%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$4,587,000	+9.0%	24,245	+0.5%	2.36%	+1.4%
WAB	New	WABTEC CORP	$4,509,000	–	59,525	–	2.32%	–
MKC	Buy	MCCORMICK & CO INC	$4,339,000	+6.3%	42,275	+1.0%	2.23%	-1.2%
WWD	Sell	WOODWARD INC	$4,152,000	+13.9%	53,500	-0.8%	2.13%	+6.0%
TRMB	Sell	TRIMBLE INC	$4,120,000	+9.6%	104,970	-0.4%	2.12%	+2.0%
WTS	Sell	WATTS WATER TECHNOLOGIES INCcl a	$3,961,000	+9.2%	57,250	-0.2%	2.04%	+1.6%
PAYX	Buy	PAYCHEX INC	$3,574,000	+7.5%	59,612	+2.1%	1.84%	0.0%
PTC	Sell	PTC INC	$3,334,000	+1.9%	59,240	-0.2%	1.71%	-5.1%
DHR	Sell	DANAHER CORP DEL	$3,035,000	+1.1%	35,380	-0.6%	1.56%	-6.0%
COG	Sell	CABOT OIL & GAS CORP	$2,984,000	+6.5%	111,545	-0.2%	1.53%	-0.9%
LH	Sell	LABORATORY CORP AMER HLDGS	$2,897,000	-2.3%	19,187	-0.3%	1.49%	-9.1%
MON	Sell	MONSANTO CO NEW	$2,209,000	+0.1%	18,436	-1.1%	1.14%	-6.8%
KEX	Sell	KIRBY CORP	$989,000	-2.3%	15,000	-0.9%	0.51%	-9.1%
DWDP	New	DOWDUPONT INC	$596,000	–	8,615	–	0.31%	–
SPXU	Buy	PROSHARES TRultrapro short s	$524,000	+23.9%	38,000	+40.7%	0.27%	+15.0%
ITW	Sell	ILLINOIS TOOL WKS INC	$363,000	-0.5%	2,450	-3.9%	0.19%	-7.4%
PLPM	New	PLANET PAYMENT INC	$107,000	–	25,000	–	0.06%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,543	–	-0.29%	–

Q2 2017

			Value		Shares		↓ Weighting
BCR	New	BARD C R INC	$8,946,000	–	28,300	–	4.94%	–
PX	New	PRAXAIR INC	$6,333,000	–	47,775	–	3.50%	–
INFO	New	IHS MARKIT LTD	$6,246,000	–	141,842	–	3.45%	–
MHK	New	MOHAWK INDS INC	$6,217,000	–	25,725	–	3.43%	–
EW	New	EDWARDS LIFESCIENCES CORP	$6,072,000	–	51,350	–	3.35%	–
BDX	New	BECTON DICKINSON & CO	$6,044,000	–	30,980	–	3.34%	–
ROP	New	ROPER TECHNOLOGIES INC	$5,884,000	–	25,413	–	3.25%	–
ADSK	New	AUTODESK INC	$5,724,000	–	56,774	–	3.16%	–
XRAY	New	DENTSPLY SIRONA INC	$5,717,000	–	88,165	–	3.16%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$5,424,000	–	40,175	–	3.00%	–
EMR	New	EMERSON ELEC CO	$5,136,000	–	86,150	–	2.84%	–
TECH	New	BIO TECHNE CORP	$5,044,000	–	42,925	–	2.79%	–
TFX	New	TELEFLEX INC	$5,032,000	–	24,220	–	2.78%	–
LII	New	LENNOX INTL INC	$4,683,000	–	25,500	–	2.59%	–
SLB	New	SCHLUMBERGER LTD	$4,255,000	–	64,625	–	2.35%	–
XYL	New	XYLEM INC	$4,236,000	–	76,420	–	2.34%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$4,208,000	–	24,120	–	2.32%	–
MKC	New	MCCORMICK & CO INC	$4,083,000	–	41,875	–	2.26%	–
HEI	New	HEICO CORP NEW	$3,983,000	–	55,436	–	2.20%	–
TRMB	New	TRIMBLE INC	$3,760,000	–	105,420	–	2.08%	–
WWD	New	WOODWARD INC	$3,646,000	–	53,950	–	2.01%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$3,626,000	–	57,375	–	2.00%	–
PAYX	New	PAYCHEX INC	$3,326,000	–	58,412	–	1.84%	–
CERN	New	CERNER CORP	$3,290,000	–	49,500	–	1.82%	–
PTC	New	PTC INC	$3,271,000	–	59,340	–	1.81%	–
EPAM	New	EPAM SYS INC	$3,237,000	–	38,500	–	1.79%	–
IT	New	GARTNER INC	$3,211,000	–	26,000	–	1.77%	–
MMM	New	3M CO	$3,196,000	–	15,350	–	1.77%	–
PKI	New	PERKINELMER INC	$3,073,000	–	45,100	–	1.70%	–
DHR	New	DANAHER CORP DEL	$3,003,000	–	35,580	–	1.66%	–
LH	New	LABORATORY CORP AMER HLDGS	$2,965,000	–	19,237	–	1.64%	–
SHW	New	SHERWIN WILLIAMS CO	$2,906,000	–	8,280	–	1.60%	–
ECL	New	ECOLAB INC	$2,897,000	–	21,825	–	1.60%	–
COG	New	CABOT OIL & GAS CORP	$2,802,000	–	111,744	–	1.55%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,795,000	–	16,500	–	1.54%	–
MTX	New	MINERALS TECHNOLOGIES INC	$2,740,000	–	37,425	–	1.51%	–
FISV	New	FISERV INC	$2,661,000	–	21,750	–	1.47%	–
MON	New	MONSANTO CO NEW	$2,206,000	–	18,636	–	1.22%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,596,000	–	39,000	–	0.88%	–
EQM	New	EQT MIDSTREAM PARTNERS LPunit ltd partn	$1,574,000	–	21,100	–	0.87%	–
PDCO	New	PATTERSON COMPANIES INC	$1,092,000	–	23,250	–	0.60%	–
FTV	New	FORTIVE CORP	$1,067,000	–	16,839	–	0.59%	–
GLW	New	CORNING INC	$1,067,000	–	35,502	–	0.59%	–
KEX	New	KIRBY CORP	$1,012,000	–	15,135	–	0.56%	–
PG	New	PROCTER AND GAMBLE CO	$885,000	–	10,160	–	0.49%	–
UTX	New	UNITED TECHNOLOGIES CORP	$885,000	–	7,250	–	0.49%	–
TWM	New	PROSHARES TRultsht russ2000	$853,000	–	40,500	–	0.47%	–
VAR	New	VARIAN MED SYS INC	$840,000	–	8,135	–	0.46%	–
GE	New	GENERAL ELECTRIC CO	$717,000	–	26,555	–	0.40%	–
XOM	New	EXXON MOBIL CORP	$644,000	–	7,986	–	0.36%	–
AAPL	New	APPLE INC	$545,000	–	3,788	–	0.30%	–
EQT	New	EQT CORP	$541,000	–	9,244	–	0.30%	–
DD	New	DU PONT E I DE NEMOURS & CO	$528,000	–	6,543	–	0.29%	–
APD	New	AIR PRODS & CHEMS INC	$451,000	–	3,150	–	0.25%	–
SPXU	New	PROSHARES TRultrapro short s	$423,000	–	27,000	–	0.23%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$417,000	–	7,837	–	0.23%	–
CNI	New	CANADIAN NATL RY CO	$405,000	–	5,000	–	0.22%	–
JNJ	New	JOHNSON & JOHNSON	$397,000	–	3,000	–	0.22%	–
MRK	New	MERCK & CO INC	$380,000	–	5,939	–	0.21%	–
ITW	New	ILLINOIS TOOL WKS INC	$365,000	–	2,550	–	0.20%	–
MCD	New	MCDONALDS CORP	$345,000	–	2,250	–	0.19%	–
ABBV	New	ABBVIE INC	$312,000	–	4,300	–	0.17%	–
OKE	New	ONEOK INC NEW	$297,000	–	5,700	–	0.16%	–
ISRG	New	INTUITIVE SURGICAL INC	$281,000	–	300	–	0.16%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERpartnership unit	$271,000	–	8,500	–	0.15%	–
D	New	DOMINION ENERGY INC	$268,000	–	3,500	–	0.15%	–
AMGN	New	AMGEN INC	$233,000	–	1,350	–	0.13%	–
PEP	New	PEPSICO INC	$231,000	–	2,000	–	0.13%	–
PPG	New	PPG INDS INC	$220,000	–	2,000	–	0.12%	–

Q4 2016

			Value		Shares		↓ Weighting
PLPM	Exit	PLANET PAYMENT INC	$0	–	-12,000	–	-0.03%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-1,750	–	-0.13%	–
PPG	Exit	PPG INDS INC	$0	–	-2,000	–	-0.13%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-300	–	-0.14%	–
PEP	Exit	PEPSICO INC	$0	–	-2,000	–	-0.14%	–
AMGN	Exit	AMGEN INC	$0	–	-1,500	–	-0.16%	–
BEP	Exit	BROOKFIELD RENEWABLE PARTNERpartnership unit	$0	–	-8,500	–	-0.16%	–
D	Exit	DOMINION RES INC VA NEW	$0	–	-3,500	–	-0.16%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,300	–	-0.17%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,500	–	-0.18%	–
OKE	Exit	ONEOK INC NEW	$0	–	-5,950	–	-0.19%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,650	–	-0.20%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,500	–	-0.22%	–
MRK	Exit	MERCK & CO INC	$0	–	-5,939	–	-0.23%	–
EQT	Exit	EQT CORP	$0	–	-9,243	–	-0.23%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-7,837	–	-0.24%	–
AAPL	Exit	APPLE INC	$0	–	-3,788	–	-0.27%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-6,543	–	-0.27%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-3,150	–	-0.30%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-7,986	–	-0.43%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-7,250	–	-0.46%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-26,555	–	-0.49%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-8,135	–	-0.50%	–
GLW	Exit	CORNING INC	$0	–	-35,502	–	-0.52%	–
FTV	Exit	FORTIVE CORP	$0	–	-17,339	–	-0.55%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-10,160	–	-0.57%	–
TYPE	Exit	MONOTYPE IMAGING HOLDINGS IN	$0	–	-47,350	–	-0.65%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-50,893	–	-0.82%	–
ILMN	Exit	ILLUMINA INC	$0	–	-7,325	–	-0.83%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-39,000	–	-0.84%	–
ASH	Exit	ASHLAND GLOBAL HLDGS INC	$0	–	-13,000	–	-0.94%	–
EQM	Exit	EQT MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-21,100	–	-1.00%	–
PKI	Exit	PERKINELMER INC	$0	–	-29,600	–	-1.03%	–
MON	Exit	MONSANTO CO NEW	$0	–	-17,486	–	-1.11%	–
KEX	Exit	KIRBY CORP	$0	–	-29,985	–	-1.16%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-14,000	–	-1.26%	–
FISV	Exit	FISERV INC	$0	–	-21,750	–	-1.35%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-8,330	–	-1.44%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-21,767	–	-1.52%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-54,450	–	-1.56%	–
PTC	Exit	PTC INC	$0	–	-59,540	–	-1.64%	–
EPAM	Exit	EPAM SYS INC	$0	–	-38,300	–	-1.65%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-34,680	–	-1.69%	–
MMM	Exit	3M CO	$0	–	-15,500	–	-1.70%	–
TFX	Exit	TELEFLEX INC	$0	–	-16,895	–	-1.77%	–
HEI	Exit	HEICO CORP NEW	$0	–	-44,350	–	-1.91%	–
TRMB	Exit	TRIMBLE NAVIGATION LTD	$0	–	-107,620	–	-1.91%	–
MTX	Exit	MINERALS TECHNOLOGIES INC	$0	–	-45,300	–	-1.99%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-24,162	–	-2.07%	–
PAYX	Exit	PAYCHEX INC	$0	–	-58,212	–	-2.10%	–
WWD	Exit	WOODWARD INC	$0	–	-54,550	–	-2.12%	–
ECL	Exit	ECOLAB INC	$0	–	-29,325	–	-2.22%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-24,120	–	-2.39%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-38,775	–	-2.41%	–
XYL	Exit	XYLEM INC	$0	–	-75,870	–	-2.48%	–
LII	Exit	LENNOX INTL INC	$0	–	-25,500	–	-2.49%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-22,730	–	-2.54%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-23,413	–	-2.66%	–
ADSK	Exit	AUTODESK INC	$0	–	-61,774	–	-2.78%	–
WTS	Exit	WATTS WATER TECHNOLOGIES INCcl a	$0	–	-69,203	–	-2.79%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-89,850	–	-3.05%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-45,100	–	-3.07%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-136,371	–	-3.19%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-88,215	–	-3.26%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-68,124	–	-3.33%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-45,800	–	-3.44%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-27,825	–	-3.47%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-41,625	–	-3.70%	–
PX	Exit	PRAXAIR INC	$0	–	-50,475	–	-3.80%	–
BCR	Exit	BARD C R INC	$0	–	-27,250	–	-3.80%	–

Q3 2016

			Value		Shares		↓ Weighting
PX	Sell	PRAXAIR INC	$6,099,000	+7.3%	50,475	-0.2%	3.80%	+2.5%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$5,951,000	+12.7%	41,625	-0.6%	3.70%	+7.6%
XRAY	Buy	DENTSPLY SIRONA INC	$5,242,000	-4.1%	88,215	+0.2%	3.26%	-8.4%
INFO	New	IHS MARKIT LTD	$5,121,000	–	136,371	–	3.19%	–
TECH	Sell	BIO TECHNE CORP	$4,939,000	-3.0%	45,100	-0.1%	3.07%	-7.4%
EMR	Sell	EMERSON ELEC CO	$4,897,000	-5.8%	89,850	-9.8%	3.05%	-10.0%
WTS	Sell	WATTS WATER TECHNOLOGIES INCcl a	$4,487,000	+9.3%	69,203	-1.8%	2.79%	+4.4%
ADSK	Sell	AUTODESK INC	$4,469,000	+33.0%	61,774	-0.5%	2.78%	+27.0%
ROP	Buy	ROPER TECHNOLOGIES INC	$4,273,000	+21.8%	23,413	+13.9%	2.66%	+16.3%
WWD	Sell	WOODWARD INC	$3,408,000	+6.6%	54,550	-1.6%	2.12%	+1.8%
PAYX	Sell	PAYCHEX INC	$3,369,000	-2.9%	58,212	-0.2%	2.10%	-7.3%
LH	Sell	LABORATORY CORP AMER HLDGS	$3,322,000	+2.2%	24,162	-3.2%	2.07%	-2.4%
MTX	Sell	MINERALS TECHNOLOGIES INC	$3,202,000	+19.3%	45,300	-4.1%	1.99%	+14.0%
TRMB	Sell	TRIMBLE NAVIGATION LTD	$3,074,000	+11.1%	107,620	-5.3%	1.91%	+6.0%
TFX	Buy	TELEFLEX INC	$2,840,000	-3.5%	16,895	+1.8%	1.77%	-7.8%
EPAM	Sell	EPAM SYS INC	$2,655,000	+6.9%	38,300	-0.8%	1.65%	+2.1%
PDCO	Sell	PATTERSON COMPANIES INC	$2,501,000	-14.2%	54,450	-10.5%	1.56%	-18.0%
CLB	Sell	CORE LABORATORIES N V	$2,445,000	-9.5%	21,767	-0.2%	1.52%	-13.6%
SHW	Buy	SHERWIN WILLIAMS CO	$2,305,000	-3.8%	8,330	+2.1%	1.44%	-8.1%
KEX	Buy	KIRBY CORP	$1,864,000	+9.9%	29,985	+10.3%	1.16%	+5.0%
MON	Buy	MONSANTO CO NEW	$1,787,000	+1.1%	17,486	+2.3%	1.11%	-3.5%
ASH	New	ASHLAND GLOBAL HLDGS INC	$1,507,000	–	13,000	–	0.94%	–
BIP	Buy	BROOKFIELD INFRAST PARTNERSlp int unit	$1,351,000	+14.8%	39,000	+50.0%	0.84%	+9.6%
ILMN	Buy	ILLUMINA INC	$1,331,000	+59.4%	7,325	+23.1%	0.83%	+52.2%
TYPE	Sell	MONOTYPE IMAGING HOLDINGS IN	$1,047,000	-10.7%	47,350	-0.5%	0.65%	-14.7%
FTV	New	FORTIVE CORP	$883,000	–	17,339	–	0.55%	–
GLW	Sell	CORNING INC	$840,000	+12.4%	35,502	-2.7%	0.52%	+7.4%
GE	Sell	GENERAL ELECTRIC CO	$787,000	-18.4%	26,555	-13.4%	0.49%	-22.1%
XOM	Buy	EXXON MOBIL CORP	$697,000	-6.8%	7,986	+0.0%	0.43%	-11.1%
ISRG	New	INTUITIVE SURGICAL INC	$217,000	–	300	–	0.14%	–
PLPM	New	PLANET PAYMENT INC	$45,000	–	12,000	–	0.03%	–
ASH	Exit	ASHLAND INC NEW	$0	–	-13,050	–	-0.98%	–
IHS	Exit	IHS INCcl a	$0	–	-38,345	–	-2.89%	–

Q2 2016

			Value		Shares		↓ Weighting
BCR	New	BARD C R INC	$6,408,000	–	27,250	–	4.18%	–
PX	New	PRAXAIR INC	$5,684,000	–	50,575	–	3.70%	–
XRAY	New	DENTSPLY SIRONA INC	$5,464,000	–	88,065	–	3.56%	–
SLB	New	SCHLUMBERGER LTD	$5,387,000	–	68,124	–	3.51%	–
MHK	New	MOHAWK INDS INC	$5,280,000	–	27,825	–	3.44%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$5,279,000	–	41,875	–	3.44%	–
EMR	New	EMERSON ELEC CO	$5,198,000	–	99,650	–	3.39%	–
TECH	New	BIO TECHNE CORP	$5,092,000	–	45,150	–	3.32%	–
EW	New	EDWARDS LIFESCIENCES CORP	$4,568,000	–	45,800	–	2.98%	–
IHS	New	IHS INCcl a	$4,434,000	–	38,345	–	2.89%	–
MKC	New	MCCORMICK & CO INC	$4,136,000	–	38,775	–	2.70%	–
WTS	New	WATTS WATER TECHNOLOGIES INCcl a	$4,105,000	–	70,453	–	2.68%	–
BDX	New	BECTON DICKINSON & CO	$3,855,000	–	22,730	–	2.51%	–
LII	New	LENNOX INTL INC	$3,637,000	–	25,500	–	2.37%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$3,564,000	–	24,120	–	2.32%	–
ROP	New	ROPER TECHNOLOGIES INC	$3,507,000	–	20,563	–	2.29%	–
DHR	New	DANAHER CORP DEL	$3,502,000	–	34,680	–	2.28%	–
ECL	New	ECOLAB INC	$3,478,000	–	29,325	–	2.27%	–
PAYX	New	PAYCHEX INC	$3,470,000	–	58,312	–	2.26%	–
XYL	New	XYLEM INC	$3,388,000	–	75,870	–	2.21%	–
ADSK	New	AUTODESK INC	$3,360,000	–	62,074	–	2.19%	–
LH	New	LABORATORY CORP AMER HLDGS	$3,252,000	–	24,962	–	2.12%	–
WWD	New	WOODWARD INC	$3,196,000	–	55,450	–	2.08%	–
HEI	New	HEICO CORP NEW	$2,963,000	–	44,350	–	1.93%	–
TFX	New	TELEFLEX INC	$2,942,000	–	16,595	–	1.92%	–
PDCO	New	PATTERSON COMPANIES INC	$2,914,000	–	60,850	–	1.90%	–
TRMB	New	TRIMBLE NAVIGATION LTD	$2,768,000	–	113,620	–	1.80%	–
MMM	New	3M CO	$2,714,000	–	15,500	–	1.77%	–
CLB	New	CORE LABORATORIES N V	$2,703,000	–	21,817	–	1.76%	–
MTX	New	MINERALS TECHNOLOGIES INC	$2,684,000	–	47,250	–	1.75%	–
EPAM	New	EPAM SYS INC	$2,483,000	–	38,600	–	1.62%	–
SHW	New	SHERWIN WILLIAMS CO	$2,395,000	–	8,155	–	1.56%	–
FISV	New	FISERV INC	$2,365,000	–	21,750	–	1.54%	–
PTC	New	PTC INC	$2,237,000	–	59,540	–	1.46%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,027,000	–	14,000	–	1.32%	–
MON	New	MONSANTO CO NEW	$1,767,000	–	17,085	–	1.15%	–
EQM	New	EQT MIDSTREAM PARTNERS LPunit ltd partn	$1,695,000	–	21,100	–	1.10%	–
KEX	New	KIRBY CORP	$1,696,000	–	27,185	–	1.10%	–
PKI	New	PERKINELMER INC	$1,552,000	–	29,600	–	1.01%	–
ASH	New	ASHLAND INC NEW	$1,498,000	–	13,050	–	0.98%	–
COG	New	CABOT OIL & GAS CORP	$1,310,000	–	50,893	–	0.85%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,177,000	–	26,000	–	0.77%	–
TYPE	New	MONOTYPE IMAGING HOLDINGS IN	$1,172,000	–	47,600	–	0.76%	–
GE	New	GENERAL ELECTRIC CO	$965,000	–	30,655	–	0.63%	–
PG	New	PROCTER & GAMBLE CO	$860,000	–	10,160	–	0.56%	–
ILMN	New	ILLUMINA INC	$835,000	–	5,950	–	0.54%	–
XOM	New	EXXON MOBIL CORP	$748,000	–	7,985	–	0.49%	–
GLW	New	CORNING INC	$747,000	–	36,502	–	0.49%	–
UTX	New	UNITED TECHNOLOGIES CORP	$744,000	–	7,250	–	0.48%	–
EQT	New	EQT CORP	$716,000	–	9,243	–	0.47%	–
VAR	New	VARIAN MED SYS INC	$669,000	–	8,135	–	0.44%	–
APD	New	AIR PRODS & CHEMS INC	$447,000	–	3,150	–	0.29%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$433,000	–	7,837	–	0.28%	–
DD	New	DU PONT E I DE NEMOURS & CO	$424,000	–	6,543	–	0.28%	–
AAPL	New	APPLE INC	$362,000	–	3,788	–	0.24%	–
MRK	New	MERCK & CO INC	$342,000	–	5,939	–	0.22%	–
CNI	New	CANADIAN NATL RY CO	$325,000	–	5,500	–	0.21%	–
MCD	New	MCDONALDS CORP	$301,000	–	2,500	–	0.20%	–
OKE	New	ONEOK INC NEW	$282,000	–	5,950	–	0.18%	–
ITW	New	ILLINOIS TOOL WKS INC	$276,000	–	2,650	–	0.18%	–
D	New	DOMINION RES INC VA NEW	$273,000	–	3,500	–	0.18%	–
ABBV	New	ABBVIE INC	$266,000	–	4,300	–	0.17%	–
BEP	New	BROOKFIELD RENEWABLE PARTNERpartnership unit	$253,000	–	8,500	–	0.16%	–
AMGN	New	AMGEN INC	$228,000	–	1,500	–	0.15%	–
PEP	New	PEPSICO INC	$212,000	–	2,000	–	0.14%	–
JNJ	New	JOHNSON & JOHNSON	$212,000	–	1,750	–	0.14%	–
PPG	New	PPG INDS INC	$208,000	–	2,000	–	0.14%	–

Q4 2015

			Value		Shares		↓ Weighting
AMGN	Exit	AMGEN INC	$0	–	-1,500	–	-0.16%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,650	–	-0.17%	–
BEP	Exit	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$0	–	-8,500	–	-0.19%	–
AMJ	Exit	JPMORGAN CHASE & COalerian ml etn	$0	–	-7,955	–	-0.19%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,500	–	-0.20%	–
D	Exit	DOMINION RES INC VA NEW	$0	–	-3,500	–	-0.20%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-5,939	–	-0.23%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,500	–	-0.25%	–
OKE	Exit	ONEOK INC NEW	$0	–	-8,950	–	-0.26%	–
AAPL	Exit	APPLE INC	$0	–	-3,828	–	-0.34%	–
PX	Exit	PRAXAIR INC	$0	–	-5,000	–	-0.40%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-11,837	–	-0.45%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-7,985	–	-0.47%	–
EQT	Exit	EQT CORP	$0	–	-9,243	–	-0.48%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-8,135	–	-0.48%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-6,750	–	-0.48%	–
GLW	Exit	CORNING INC	$0	–	-35,502	–	-0.48%	–
TIF	Exit	TIFFANY & CO NEW	$0	–	-8,000	–	-0.49%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-26,555	–	-0.53%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-10,160	–	-0.58%	–
MON	Exit	MONSANTO CO NEW	$0	–	-9,784	–	-0.66%	–
SOR	Exit	SOURCE CAP INC	$0	–	-13,700	–	-0.74%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-26,000	–	-0.76%	–
XYL	Exit	XYLEM INC	$0	–	-34,470	–	-0.90%	–
TRMB	Exit	TRIMBLE NAVIGATION LTD	$0	–	-78,600	–	-1.03%	–
TYPE	Exit	MONOTYPE IMAGING HOLDINGS IN	$0	–	-59,600	–	-1.03%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-27,043	–	-1.04%	–
PKI	Exit	PERKINELMER INC	$0	–	-29,500	–	-1.08%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-10,650	–	-1.08%	–
EQM	Exit	EQT MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-21,200	–	-1.12%	–
FMC	Exit	F M C CORP	$0	–	-44,450	–	-1.20%	–
ASH	Exit	ASHLAND INC NEW	$0	–	-16,225	–	-1.30%	–
WWD	Exit	WOODWARD INC	$0	–	-43,850	–	-1.42%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-8,080	–	-1.43%	–
ADSK	Exit	AUTODESK INC	$0	–	-41,524	–	-1.46%	–
PTC	Exit	PTC INC	$0	–	-58,740	–	-1.48%	–
FISV	Exit	FISERV INC	$0	–	-21,750	–	-1.50%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-19,025	–	-1.51%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-88,350	–	-1.54%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-44,950	–	-1.55%	–
TFX	Exit	TELEFLEX INC	$0	–	-16,745	–	-1.65%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-9,150	–	-1.67%	–
MMM	Exit	3M CO	$0	–	-15,500	–	-1.75%	–
HEI	Exit	HEICO CORP NEW	$0	–	-49,650	–	-1.93%	–
ECL	Exit	ECOLAB INC	$0	–	-26,125	–	-2.28%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-41,673	–	-2.28%	–
PAYX	Exit	PAYCHEX INC	$0	–	-61,687	–	-2.34%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-34,780	–	-2.36%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-22,750	–	-2.36%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-22,530	–	-2.38%	–
KEX	Exit	KIRBY CORP	$0	–	-49,035	–	-2.42%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-19,613	–	-2.44%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-25,320	–	-2.46%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-40,775	–	-2.66%	–
EPAM	Exit	EPAM SYS INC	$0	–	-45,500	–	-2.70%	–
LII	Exit	LENNOX INTL INC	$0	–	-32,325	–	-2.91%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-25,900	–	-2.93%	–
IHS	Exit	IHS INCcl a	$0	–	-34,045	–	-3.14%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-41,775	–	-3.43%	–
XRAY	Exit	DENTSPLY INTL INC NEW	$0	–	-87,865	–	-3.53%	–
ARG	Exit	AIRGAS INC	$0	–	-51,175	–	-3.63%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-42,262	–	-3.64%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-28,175	–	-4.07%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-116,400	–	-4.09%	–
BCR	Exit	BARD C R INC	$0	–	-27,700	–	-4.10%	–

Q3 2015

			Value		Shares		↓ Weighting
EMR	Buy	EMERSON ELEC CO	$5,141,000	+2.8%	116,400	+29.0%	4.09%	+24.8%
MHK	Sell	MOHAWK INDS INC	$5,122,000	-9.1%	28,175	-4.5%	4.07%	+10.4%
LH	Buy	LABORATORY CORP AMER HLDGS	$4,584,000	+6.7%	42,262	+19.2%	3.64%	+29.5%
ARG	Buy	AIRGAS INC	$4,571,000	-4.8%	51,175	+12.8%	3.63%	+15.6%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$4,314,000	-6.7%	41,775	-1.3%	3.43%	+13.2%
IHS	Sell	IHS INCcl a	$3,949,000	-12.5%	34,045	-3.0%	3.14%	+6.2%
EW	Sell	EDWARDS LIFESCIENCES CORP	$3,682,000	-5.7%	25,900	-5.6%	2.93%	+14.5%
LII	Sell	LENNOX INTL INC	$3,663,000	+5.1%	32,325	-0.1%	2.91%	+27.6%
EPAM	Sell	EPAM SYS INC	$3,391,000	-1.9%	45,500	-6.3%	2.70%	+19.0%
MKC	Sell	MCCORMICK & CO INC	$3,351,000	-7.6%	40,775	-8.9%	2.66%	+12.2%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$3,096,000	-7.8%	25,320	-2.1%	2.46%	+12.0%
ROP	Sell	ROPER TECHNOLOGIES INC	$3,073,000	-13.7%	19,613	-5.1%	2.44%	+4.7%
KEX	Sell	KIRBY CORP	$3,038,000	-38.1%	49,035	-23.4%	2.42%	-24.8%
BDX	Sell	BECTON DICKINSON & CO	$2,989,000	-27.3%	22,530	-22.4%	2.38%	-11.7%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$2,967,000	+32.1%	22,750	+37.9%	2.36%	+60.4%
DHR	Buy	DANAHER CORP DEL	$2,964,000	-0.2%	34,780	+0.3%	2.36%	+21.2%
PAYX	Buy	PAYCHEX INC	$2,938,000	+33.4%	61,687	+31.3%	2.34%	+61.9%
SLB	Sell	SCHLUMBERGER LTD	$2,874,000	-21.9%	41,673	-2.3%	2.28%	-5.1%
ECL	Buy	ECOLAB INC	$2,866,000	+18.9%	26,125	+22.5%	2.28%	+44.3%
PCP	Sell	PRECISION CASTPARTS CORP	$2,102,000	-46.7%	9,150	-53.6%	1.67%	-35.3%
TFX	Buy	TELEFLEX INC	$2,080,000	-7.5%	16,745	+0.9%	1.65%	+12.4%
PDCO	Buy	PATTERSON COMPANIES INC	$1,944,000	+31.0%	44,950	+47.4%	1.55%	+59.1%
COG	Buy	CABOT OIL & GAS CORP	$1,931,000	-14.1%	88,350	+24.0%	1.54%	+4.3%
CLB	Buy	CORE LABORATORIES N V	$1,899,000	+0.2%	19,025	+14.4%	1.51%	+21.6%
PTC	Sell	PTC INC	$1,865,000	-33.5%	58,740	-14.0%	1.48%	-19.2%
ADSK	Buy	AUTODESK INC	$1,833,000	-11.7%	41,524	+0.1%	1.46%	+7.1%
SHW	Sell	SHERWIN WILLIAMS CO	$1,800,000	-19.1%	8,080	-0.2%	1.43%	-1.9%
WWD	Sell	WOODWARD INC	$1,785,000	-27.0%	43,850	-1.3%	1.42%	-11.4%
FMC	Sell	F M C CORP	$1,507,000	-51.2%	44,450	-24.4%	1.20%	-40.8%
EQM	Sell	EQT MIDSTREAM PARTNERS LPunit ltd partn	$1,407,000	-18.8%	21,200	-0.2%	1.12%	-1.4%
APD	Sell	AIR PRODS & CHEMS INC	$1,359,000	-64.6%	10,650	-62.0%	1.08%	-57.0%
TYPE	Sell	MONOTYPE IMAGING HOLDINGS IN	$1,300,000	-12.5%	59,600	-3.2%	1.03%	+6.3%
TRMB	Buy	TRIMBLE NAVIGATION LTD	$1,291,000	-9.2%	78,600	+29.7%	1.03%	+10.2%
XYL	Buy	XYLEM INC	$1,132,000	+20.3%	34,470	+35.9%	0.90%	+46.1%
BIP	Sell	BROOKFIELD INFRAST PARTNERSlp int unit	$956,000	-18.4%	26,000	-1.0%	0.76%	-0.9%
SOR	Sell	SOURCE CAP INC	$928,000	-16.1%	13,700	-9.9%	0.74%	+1.9%
MON	Sell	MONSANTO CO NEW	$835,000	-67.0%	9,784	-58.8%	0.66%	-59.9%
GE	Sell	GENERAL ELECTRIC CO	$669,000	-5.9%	26,555	-0.7%	0.53%	+14.2%
GLW	Sell	CORNING INC	$608,000	-13.9%	35,502	-0.8%	0.48%	+4.5%
UTX	Sell	UNITED TECHNOLOGIES CORP	$601,000	-49.6%	6,750	-37.2%	0.48%	-38.8%
EQT	Sell	EQT CORP	$599,000	-20.8%	9,243	-0.6%	0.48%	-3.8%
XOM	Sell	EXXON MOBIL CORP	$594,000	-11.7%	7,985	-1.2%	0.47%	+7.0%
RDSA	Sell	ROYAL DUTCH SHELL PLCspons adr a	$561,000	-19.3%	11,837	-2.9%	0.45%	-2.0%
OKE	Sell	ONEOK INC NEW	$328,000	-9.1%	8,950	-2.2%	0.26%	+10.6%
MRK	Sell	MERCK & CO INC NEW	$293,000	-17.5%	5,939	-4.8%	0.23%	0.0%
AMJ	Sell	JPMORGAN CHASE & COalerian ml etn	$242,000	-63.9%	7,955	-53.1%	0.19%	-56.4%
BEP	Sell	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$234,000	-34.3%	8,500	-29.2%	0.19%	-20.2%
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-2,000	–	-0.14%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,500	–	-0.16%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-7,128	–	-0.18%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-2,000	–	-0.18%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,300	–	-0.19%	–
ENLC	Exit	ENLINK MIDSTREAM LLC	$0	–	-10,736	–	-0.22%	–
PEP	Exit	PEPSICO INC	$0	–	-4,000	–	-0.24%	–
HAE	Exit	HAEMONETICS CORP	$0	–	-24,040	–	-0.65%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-23,266	–	-0.91%	–
AIN	Exit	ALBANY INTL CORPcl a	$0	–	-41,260	–	-1.08%	–
PLL	Exit	PALL CORP	$0	–	-20,450	–	-1.67%	–

Q2 2015

			Value		Shares		↓ Weighting
MHK	New	MOHAWK INDS INC	$5,632,000	–	29,500	–	3.69%	–
EMR	New	EMERSON ELEC CO	$5,000,000	–	90,200	–	3.28%	–
KEX	New	KIRBY CORP	$4,905,000	–	63,985	–	3.21%	–
ARG	New	AIRGAS INC	$4,800,000	–	45,375	–	3.14%	–
BCR	New	BARD C R INC	$4,728,000	–	27,700	–	3.10%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$4,626,000	–	42,325	–	3.03%	–
XRAY	New	DENTSPLY INTL INC NEW	$4,529,000	–	87,865	–	2.97%	–
IHS	New	IHS INCcl a	$4,514,000	–	35,095	–	2.96%	–
LH	New	LABORATORY CORP AMER HLDGS	$4,298,000	–	35,462	–	2.82%	–
BDX	New	BECTON DICKINSON & CO	$4,112,000	–	29,030	–	2.69%	–
PCP	New	PRECISION CASTPARTS CORP	$3,942,000	–	19,725	–	2.58%	–
EW	New	EDWARDS LIFESCIENCES CORP	$3,906,000	–	27,425	–	2.56%	–
APD	New	AIR PRODS & CHEMS INC	$3,838,000	–	28,050	–	2.51%	–
SLB	New	SCHLUMBERGER LTD	$3,678,000	–	42,673	–	2.41%	–
MKC	New	MCCORMICK & CO INC	$3,625,000	–	44,775	–	2.37%	–
ROP	New	ROPER TECHNOLOGIES INC	$3,562,000	–	20,658	–	2.33%	–
LII	New	LENNOX INTL INC	$3,484,000	–	32,350	–	2.28%	–
EPAM	New	EPAM SYS INC	$3,458,000	–	48,550	–	2.26%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$3,357,000	–	25,870	–	2.20%	–
FMC	New	F M C CORP	$3,090,000	–	58,800	–	2.02%	–
DHR	New	DANAHER CORP DEL	$2,969,000	–	34,680	–	1.94%	–
HEI	New	HEICO CORP NEW	$2,895,000	–	49,650	–	1.90%	–
PTC	New	PTC INC	$2,803,000	–	68,340	–	1.84%	–
PLL	New	PALL CORP	$2,545,000	–	20,450	–	1.67%	–
MON	New	MONSANTO CO NEW	$2,530,000	–	23,734	–	1.66%	–
WWD	New	WOODWARD INC	$2,445,000	–	44,450	–	1.60%	–
ECL	New	ECOLAB INC	$2,411,000	–	21,325	–	1.58%	–
MMM	New	3M CO	$2,391,000	–	15,500	–	1.57%	–
TFX	New	TELEFLEX INC	$2,248,000	–	16,595	–	1.47%	–
COG	New	CABOT OIL & GAS CORP	$2,248,000	–	71,250	–	1.47%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,246,000	–	16,500	–	1.47%	–
SHW	New	SHERWIN WILLIAMS CO	$2,226,000	–	8,095	–	1.46%	–
PAYX	New	PAYCHEX INC	$2,203,000	–	46,987	–	1.44%	–
ADSK	New	AUTODESK INC	$2,076,000	–	41,474	–	1.36%	–
ASH	New	ASHLAND INC NEW	$1,978,000	–	16,225	–	1.30%	–
CLB	New	CORE LABORATORIES N V	$1,896,000	–	16,625	–	1.24%	–
FISV	New	FISERV INC	$1,802,000	–	21,750	–	1.18%	–
EQM	New	EQT MIDSTREAM PARTNERS LPunit ltd partn	$1,733,000	–	21,250	–	1.14%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,725,000	–	27,043	–	1.13%	–
AIN	New	ALBANY INTL CORPcl a	$1,642,000	–	41,260	–	1.08%	–
PKI	New	PERKINELMER INC	$1,553,000	–	29,500	–	1.02%	–
TYPE	New	MONOTYPE IMAGING HOLDINGS IN	$1,485,000	–	61,600	–	0.97%	–
PDCO	New	PATTERSON COMPANIES INC	$1,484,000	–	30,500	–	0.97%	–
TRMB	New	TRIMBLE NAVIGATION LTD	$1,422,000	–	60,600	–	0.93%	–
DVN	New	DEVON ENERGY CORP NEW	$1,384,000	–	23,266	–	0.91%	–
UTX	New	UNITED TECHNOLOGIES CORP	$1,193,000	–	10,750	–	0.78%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,171,000	–	26,250	–	0.77%	–
SOR	New	SOURCE CAP INC	$1,106,000	–	15,200	–	0.72%	–
HAE	New	HAEMONETICS CORP	$994,000	–	24,040	–	0.65%	–
XYL	New	XYLEM INC	$941,000	–	25,370	–	0.62%	–
PG	New	PROCTER & GAMBLE CO	$795,000	–	10,160	–	0.52%	–
EQT	New	EQT CORP	$756,000	–	9,297	–	0.50%	–
TIF	New	TIFFANY & CO NEW	$734,000	–	8,000	–	0.48%	–
GE	New	GENERAL ELECTRIC CO	$711,000	–	26,755	–	0.47%	–
GLW	New	CORNING INC	$706,000	–	35,802	–	0.46%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$695,000	–	12,187	–	0.46%	–
VAR	New	VARIAN MED SYS INC	$686,000	–	8,135	–	0.45%	–
XOM	New	EXXON MOBIL CORP	$673,000	–	8,085	–	0.44%	–
AMJ	New	JPMORGAN CHASE & COalerian ml etn	$671,000	–	16,955	–	0.44%	–
PX	New	PRAXAIR INC	$598,000	–	5,000	–	0.39%	–
AAPL	New	APPLE INC	$480,000	–	3,828	–	0.31%	–
PEP	New	PEPSICO INC	$373,000	–	4,000	–	0.24%	–
OKE	New	ONEOK INC NEW	$361,000	–	9,150	–	0.24%	–
BEP	New	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$356,000	–	12,000	–	0.23%	–
MRK	New	MERCK & CO INC NEW	$355,000	–	6,239	–	0.23%	–
ENLC	New	ENLINK MIDSTREAM LLC	$333,000	–	10,736	–	0.22%	–
CNI	New	CANADIAN NATL RY CO	$318,000	–	5,500	–	0.21%	–
ABBV	New	ABBVIE INC	$289,000	–	4,300	–	0.19%	–
SIAL	New	SIGMA ALDRICH CORP	$279,000	–	2,000	–	0.18%	–
KMI	New	KINDER MORGAN INC DEL	$274,000	–	7,128	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$244,000	–	2,500	–	0.16%	–
ITW	New	ILLINOIS TOOL WKS INC	$243,000	–	2,650	–	0.16%	–
MCD	New	MCDONALDS CORP	$238,000	–	2,500	–	0.16%	–
D	New	DOMINION RES INC VA NEW	$234,000	–	3,500	–	0.15%	–
AMGN	New	AMGEN INC	$230,000	–	1,500	–	0.15%	–
SWK	New	STANLEY BLACK & DECKER INC	$210,000	–	2,000	–	0.14%	–

Q4 2014

			Value		Shares		↓ Weighting
PPG	Exit	PPG INDS INC	$0	–	-1,000	–	-0.14%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,650	–	-0.16%	–
SPXU	Exit	PROSHARES TRultrapro short s	$0	–	-5,000	–	-0.16%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,500	–	-0.17%	–
D	Exit	DOMINION RES INC VA NEW	$0	–	-3,500	–	-0.17%	–
AMGN	Exit	AMGEN INC	$0	–	-1,750	–	-0.17%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-2,500	–	-0.19%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-2,000	–	-0.19%	–
4945SC	Exit	KINDER MORGAN ENERGY PARTNERut ltd partner	$0	–	-3,250	–	-0.21%	–
SON	Exit	SONOCO PRODS CO	$0	–	-4,100	–	-0.23%	–
AAPL	Exit	APPLE INC	$0	–	-3,548	–	-0.25%	–
BEP	Exit	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$0	–	-12,000	–	-0.26%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-6,239	–	-0.26%	–
PEP	Exit	PEPSICO INC	$0	–	-4,000	–	-0.26%	–
ARG	Exit	AIRGAS INC	$0	–	-3,500	–	-0.27%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-5,500	–	-0.28%	–
SPXS	Exit	DIREXION SHS ETF TRdly s&p 500 bear	$0	–	-16,000	–	-0.28%	–
ENLC	Exit	ENLINK MIDSTREAM LLC	$0	–	-10,600	–	-0.31%	–
TZA	Exit	DIREXION SHS ETF TRdly sc bear3xnew	$0	–	-31,200	–	-0.37%	–
OKE	Exit	ONEOK INC NEW	$0	–	-9,150	–	-0.42%	–
PX	Exit	PRAXAIR INC	$0	–	-5,000	–	-0.46%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-8,135	–	-0.46%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-6,956	–	-0.46%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-26,755	–	-0.48%	–
GLW	Exit	CORNING INC	$0	–	-35,802	–	-0.49%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-9,160	–	-0.54%	–
TIF	Exit	TIFFANY & CO NEW	$0	–	-8,000	–	-0.54%	–
NTG	Exit	TORTOISE MLP FD INC	$0	–	-28,000	–	-0.58%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-7,750	–	-0.58%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-13,500	–	-0.60%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-12,274	–	-0.66%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-6,400	–	-0.66%	–
AMJ	Exit	JPMORGAN CHASE & COalerian ml etn	$0	–	-17,700	–	-0.66%	–
SOR	Exit	SOURCE CAP INC	$0	–	-15,200	–	-0.70%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-26,250	–	-0.70%	–
XYL	Exit	XYLEM INC	$0	–	-28,770	–	-0.72%	–
EQT	Exit	EQT CORP	$0	–	-12,705	–	-0.82%	–
PKI	Exit	PERKINELMER INC	$0	–	-28,400	–	-0.88%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-30,500	–	-0.89%	–
HAE	Exit	HAEMONETICS CORP	$0	–	-39,740	–	-0.98%	–
AIN	Exit	ALBANY INTL CORPcl a	$0	–	-41,010	–	-0.99%	–
FISV	Exit	FISERV INC	$0	–	-21,750	–	-0.99%	–
TFX	Exit	TELEFLEX INC	$0	–	-15,595	–	-1.16%	–
ASH	Exit	ASHLAND INC NEW	$0	–	-16,150	–	-1.19%	–
EQM	Exit	EQT MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-19,250	–	-1.22%	–
TYPE	Exit	MONOTYPE IMAGING HOLDINGS IN	$0	–	-60,950	–	-1.22%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-57,200	–	-1.32%	–
RBC	Exit	REGAL BELOIT CORP	$0	–	-29,775	–	-1.35%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-9,095	–	-1.41%	–
PAYX	Exit	PAYCHEX INC	$0	–	-46,787	–	-1.46%	–
KEX	Exit	KIRBY CORP	$0	–	-18,400	–	-1.53%	–
ECL	Exit	ECOLAB INC	$0	–	-19,125	–	-1.55%	–
MMM	Exit	3M CO	$0	–	-15,500	–	-1.55%	–
PTC	Exit	PTC INC	$0	–	-59,740	–	-1.56%	–
WWD	Exit	WOODWARD INC	$0	–	-46,400	–	-1.56%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-84,164	–	-1.60%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-16,500	–	-1.61%	–
HEI	Exit	HEICO CORP NEW	$0	–	-49,850	–	-1.65%	–
EPAM	Exit	EPAM SYS INC	$0	–	-53,750	–	-1.66%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-10,350	–	-1.73%	–
CLH	Exit	CLEAN HARBORS INC	$0	–	-46,025	–	-1.76%	–
PLL	Exit	PALL CORP	$0	–	-29,700	–	-1.76%	–
ADSK	Exit	AUTODESK INC	$0	–	-45,474	–	-1.77%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-22,530	–	-1.81%	–
MON	Exit	MONSANTO CO NEW	$0	–	-23,200	–	-1.84%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-38,530	–	-2.07%	–
LII	Exit	LENNOX INTL INC	$0	–	-38,300	–	-2.08%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-43,327	–	-2.09%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-75,400	–	-2.16%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-45,900	–	-2.17%	–
ROP	Exit	ROPER INDS INC NEW	$0	–	-21,198	–	-2.19%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-26,120	–	-2.25%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-33,225	–	-2.40%	–
IHS	Exit	IHS INCcl a	$0	–	-31,195	–	-2.76%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-29,000	–	-2.76%	–
BCR	Exit	BARD C R INC	$0	–	-27,725	–	-2.80%	–
XRAY	Exit	DENTSPLY INTL INC NEW	$0	–	-87,065	–	-2.81%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-57,643	–	-2.92%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-44,275	–	-3.00%	–
FMC	Exit	F M C CORP	$0	–	-82,800	–	-3.35%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-48,524	–	-3.49%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-41,250	–	-3.80%	–

Q3 2014

			Value		Shares		↓ Weighting
APD	Sell	AIR PRODS & CHEMS INC	$5,370,000	-3.6%	41,250	-4.7%	3.80%	+3.9%
SLB	Buy	SCHLUMBERGER LTD	$4,935,000	-10.1%	48,524	+4.3%	3.49%	-3.1%
FMC	Buy	F M C CORP	$4,735,000	+8.3%	82,800	+34.9%	3.35%	+16.8%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$4,245,000	-17.1%	44,275	-9.9%	3.00%	-10.7%
DD	Sell	DU PONT E I DE NEMOURS & CO	$4,136,000	+3.4%	57,643	-5.7%	2.92%	+11.4%
XRAY	Sell	DENTSPLY INTL INC NEW	$3,970,000	-9.3%	87,065	-5.8%	2.81%	-2.3%
BCR	Sell	BARD C R INC	$3,957,000	-3.8%	27,725	-3.6%	2.80%	+3.7%
IHS	Sell	IHS INCcl a	$3,906,000	-7.9%	31,195	-0.2%	2.76%	-0.7%
EW	Sell	EDWARDS LIFESCIENCES CORP	$3,394,000	+18.9%	33,225	-0.1%	2.40%	+28.2%
ROP	Sell	ROPER INDS INC NEW	$3,101,000	-0.1%	21,198	-0.2%	2.19%	+7.7%
MKC	Sell	MCCORMICK & CO INC	$3,071,000	-6.7%	45,900	-0.2%	2.17%	+0.5%
GNRC	Buy	GENERAC HLDGS INC	$3,057,000	+30.6%	75,400	+57.1%	2.16%	+40.8%
DVN	Buy	DEVON ENERGY CORP NEW	$2,955,000	+119.2%	43,327	+155.2%	2.09%	+136.3%
LII	Sell	LENNOX INTL INC	$2,944,000	-16.3%	38,300	-2.5%	2.08%	-9.8%
DHR	Buy	DANAHER CORP DEL	$2,927,000	+6.4%	38,530	+10.3%	2.07%	+14.7%
MON	Sell	MONSANTO CO NEW	$2,610,000	-15.5%	23,200	-6.3%	1.84%	-8.9%
ADSK	Buy	AUTODESK INC	$2,506,000	-1.8%	45,474	+0.4%	1.77%	+5.8%
PLL	Buy	PALL CORP	$2,485,000	+5.8%	29,700	+8.0%	1.76%	+14.1%
CLH	Sell	CLEAN HARBORS INC	$2,482,000	-33.3%	46,025	-20.5%	1.76%	-28.1%
PCP	Buy	PRECISION CASTPARTS CORP	$2,452,000	-0.4%	10,350	+6.2%	1.73%	+7.4%
EPAM	Sell	EPAM SYS INC	$2,353,000	-5.5%	53,750	-5.6%	1.66%	+1.8%
HEI	Buy	HEICO CORP NEW	$2,328,000	-2.0%	49,850	+9.0%	1.65%	+5.6%
CVE	Sell	CENOVUS ENERGY INC	$2,262,000	-30.4%	84,164	-16.2%	1.60%	-25.0%
WWD	Sell	WOODWARD INC	$2,209,000	-5.2%	46,400	-0.1%	1.56%	+2.2%
PTC	Sell	PTC INC	$2,204,000	-11.5%	59,740	-6.9%	1.56%	-4.6%
KEX	Sell	KIRBY CORP	$2,168,000	-9.3%	18,400	-9.8%	1.53%	-2.2%
SHW	Sell	SHERWIN WILLIAMS CO	$1,992,000	-13.4%	9,095	-18.1%	1.41%	-6.6%
RBC	Sell	REGAL BELOIT CORP	$1,913,000	-45.0%	29,775	-32.7%	1.35%	-40.7%
COG	Sell	CABOT OIL & GAS CORP	$1,870,000	-15.1%	57,200	-11.3%	1.32%	-8.4%
TYPE	Sell	MONOTYPE IMAGING HOLDINGS IN	$1,726,000	-2.2%	60,950	-2.7%	1.22%	+5.4%
ASH	Sell	ASHLAND INC NEW	$1,681,000	-25.1%	16,150	-21.7%	1.19%	-19.2%
AIN	Sell	ALBANY INTL CORPcl a	$1,396,000	-10.9%	41,010	-0.6%	0.99%	-3.9%
HAE	Sell	HAEMONETICS CORP	$1,387,000	-24.0%	39,740	-23.2%	0.98%	-18.0%
XYL	Sell	XYLEM INC	$1,021,000	-20.7%	28,770	-12.7%	0.72%	-14.6%
AMJ	Buy	JPMORGAN CHASE & COalerian ml etn	$939,000	+3.2%	17,700	+1.1%	0.66%	+11.2%
GLW	Sell	CORNING INC	$692,000	-17.6%	35,802	-6.4%	0.49%	-11.3%
TZA	Buy	DIREXION SHS ETF TRdly sc bear3xnew	$528,000	+22.5%	31,200	+1.0%	0.37%	+31.8%
AAPL	Buy	APPLE INC	$357,000	+9.2%	3,548	+0.7%	0.25%	+17.2%
SIAL	Sell	SIGMA ALDRICH CORP	$272,000	-10.5%	2,000	-33.3%	0.19%	-3.5%
AMGN	New	AMGEN INC	$246,000	–	1,750	–	0.17%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-1,000	–	-0.12%	–
APA	Exit	APACHE CORP	$0	–	-4,868	–	-0.32%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-6,500	–	-0.44%	–
MCRS	Exit	MICROS SYS INC	$0	–	-34,425	–	-1.53%	–

Q2 2014

			Value		Shares		↓ Weighting
APD	New	AIR PRODS & CHEMS INC	$5,569,000	–	43,300	–	3.65%	–
SLB	New	SCHLUMBERGER LTD	$5,488,000	–	46,524	–	3.60%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$5,123,000	–	49,125	–	3.36%	–
XRAY	New	DENTSPLY INTL INC NEW	$4,379,000	–	92,465	–	2.87%	–
FMC	New	F M C CORP	$4,371,000	–	61,400	–	2.87%	–
IHS	New	IHS INCcl a	$4,239,000	–	31,245	–	2.78%	–
BCR	New	BARD C R INC	$4,112,000	–	28,750	–	2.70%	–
MHK	New	MOHAWK INDS INC	$4,012,000	–	29,000	–	2.63%	–
DD	New	DU PONT E I DE NEMOURS & CO	$4,001,000	–	61,143	–	2.62%	–
CLH	New	CLEAN HARBORS INC	$3,719,000	–	57,875	–	2.44%	–
LII	New	LENNOX INTL INC	$3,518,000	–	39,275	–	2.31%	–
RBC	New	REGAL BELOIT CORP	$3,478,000	–	44,275	–	2.28%	–
MKC	New	MCCORMICK & CO INC	$3,293,000	–	46,000	–	2.16%	–
CVE	New	CENOVUS ENERGY INC	$3,252,000	–	100,464	–	2.13%	–
ROP	New	ROPER INDS INC NEW	$3,103,000	–	21,248	–	2.04%	–
MON	New	MONSANTO CO NEW	$3,087,000	–	24,750	–	2.02%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$3,082,000	–	26,120	–	2.02%	–
EW	New	EDWARDS LIFESCIENCES CORP	$2,854,000	–	33,250	–	1.87%	–
DHR	New	DANAHER CORP DEL	$2,750,000	–	34,930	–	1.80%	–
BDX	New	BECTON DICKINSON & CO	$2,665,000	–	22,530	–	1.75%	–
ADSK	New	AUTODESK INC	$2,553,000	–	45,274	–	1.68%	–
EPAM	New	EPAM SYS INC	$2,491,000	–	56,950	–	1.63%	–
PTC	New	PTC INC	$2,489,000	–	64,140	–	1.63%	–
PCP	New	PRECISION CASTPARTS CORP	$2,461,000	–	9,750	–	1.61%	–
KEX	New	KIRBY CORP	$2,390,000	–	20,400	–	1.57%	–
HEI	New	HEICO CORP NEW	$2,376,000	–	45,750	–	1.56%	–
PLL	New	PALL CORP	$2,348,000	–	27,500	–	1.54%	–
GNRC	New	GENERAC HLDGS INC	$2,340,000	–	48,000	–	1.54%	–
MCRS	New	MICROS SYS INC	$2,337,000	–	34,425	–	1.53%	–
WWD	New	WOODWARD INC	$2,331,000	–	46,450	–	1.53%	–
SHW	New	SHERWIN WILLIAMS CO	$2,299,000	–	11,110	–	1.51%	–
ASH	New	ASHLAND INC NEW	$2,243,000	–	20,625	–	1.47%	–
MMM	New	3M CO	$2,221,000	–	15,500	–	1.46%	–
COG	New	CABOT OIL & GAS CORP	$2,202,000	–	64,500	–	1.44%	–
ECL	New	ECOLAB INC	$2,129,000	–	19,125	–	1.40%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,088,000	–	16,500	–	1.37%	–
PAYX	New	PAYCHEX INC	$1,944,000	–	46,787	–	1.28%	–
EQM	New	EQT MIDSTREAM PARTNERS LPunit ltd partn	$1,862,000	–	19,250	–	1.22%	–
HAE	New	HAEMONETICS CORP	$1,825,000	–	51,740	–	1.20%	–
TYPE	New	MONOTYPE IMAGING HOLDINGS IN	$1,765,000	–	62,650	–	1.16%	–
TFX	New	TELEFLEX INC	$1,647,000	–	15,595	–	1.08%	–
AIN	New	ALBANY INTL CORPcl a	$1,566,000	–	41,260	–	1.03%	–
EQT	New	EQT CORP	$1,358,000	–	12,705	–	0.89%	–
DVN	New	DEVON ENERGY CORP NEW	$1,348,000	–	16,977	–	0.88%	–
PKI	New	PERKINELMER INC	$1,330,000	–	28,400	–	0.87%	–
FISV	New	FISERV INC	$1,312,000	–	21,750	–	0.86%	–
XYL	New	XYLEM INC	$1,288,000	–	32,970	–	0.84%	–
PDCO	New	PATTERSON COMPANIES INC	$1,205,000	–	30,500	–	0.79%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$1,095,000	–	26,250	–	0.72%	–
CLB	New	CORE LABORATORIES N V	$1,069,000	–	6,400	–	0.70%	–
SOR	New	SOURCE CAP INC	$1,064,000	–	15,200	–	0.70%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$1,011,000	–	12,274	–	0.66%	–
AMJ	New	JPMORGAN CHASE & COalerian ml etn	$910,000	–	17,500	–	0.60%	–
EMR	New	EMERSON ELEC CO	$896,000	–	13,500	–	0.59%	–
UTX	New	UNITED TECHNOLOGIES CORP	$895,000	–	7,750	–	0.59%	–
GLW	New	CORNING INC	$840,000	–	38,252	–	0.55%	–
NTG	New	TORTOISE MLP FD INC	$838,000	–	28,000	–	0.55%	–
TIF	New	TIFFANY & CO NEW	$802,000	–	8,000	–	0.53%	–
PG	New	PROCTER & GAMBLE CO	$720,000	–	9,160	–	0.47%	–
GE	New	GENERAL ELECTRIC CO	$703,000	–	26,755	–	0.46%	–
XOM	New	EXXON MOBIL CORP	$701,000	–	6,956	–	0.46%	–
VAR	New	VARIAN MED SYS INC	$676,000	–	8,135	–	0.44%	–
LH	New	LABORATORY CORP AMER HLDGS	$666,000	–	6,500	–	0.44%	–
PX	New	PRAXAIR INC	$665,000	–	5,000	–	0.44%	–
OKE	New	ONEOK INC NEW	$622,000	–	9,150	–	0.41%	–
APA	New	APACHE CORP	$490,000	–	4,868	–	0.32%	–
ENLC	New	ENLINK MIDSTREAM LLC	$441,000	–	10,600	–	0.29%	–
TZA	New	DIREXION SHS ETF TRdly sc bear3xnew	$431,000	–	30,900	–	0.28%	–
SPXS	New	DIREXION SHS ETF TRdly s&p 500 bear	$415,000	–	16,000	–	0.27%	–
ARG	New	AIRGAS INC	$381,000	–	3,500	–	0.25%	–
MRK	New	MERCK & CO INC NEW	$361,000	–	6,239	–	0.24%	–
CNI	New	CANADIAN NATL RY CO	$358,000	–	5,500	–	0.24%	–
PEP	New	PEPSICO INC	$357,000	–	4,000	–	0.23%	–
BEP	New	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$355,000	–	12,000	–	0.23%	–
AAPL	New	APPLE INC	$327,000	–	3,524	–	0.22%	–
SON	New	SONOCO PRODS CO	$316,000	–	4,100	–	0.21%	–
SIAL	New	SIGMA ALDRICH CORP	$304,000	–	3,000	–	0.20%	–
4945SC	New	KINDER MORGAN ENERGY PARTNERut ltd partner	$267,000	–	3,250	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$262,000	–	2,500	–	0.17%	–
MCD	New	MCDONALDS CORP	$252,000	–	2,500	–	0.16%	–
D	New	DOMINION RES INC VA NEW	$250,000	–	3,500	–	0.16%	–
SPXU	New	PROSHARES TRultrapro short s	$238,000	–	5,000	–	0.16%	–
ITW	New	ILLINOIS TOOL WKS INC	$232,000	–	2,650	–	0.15%	–
PPG	New	PPG INDS INC	$210,000	–	1,000	–	0.14%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$181,000	–	1,000	–	0.12%	–

Q4 2013

			Value		Shares		↓ Weighting
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-2,650	–	-0.16%	–
D	Exit	DOMINION RES INC VA NEW	$0	–	-3,500	–	-0.18%	–
MCD	Exit	MCDONALDS CORP	$0	–	-2,500	–	-0.20%	–
4945SC	Exit	KINDER MORGAN ENERGY PARTNERut ltd partner	$0	–	-3,250	–	-0.21%	–
	Exit	APPLE INC	$0	–	-554	–	-0.22%	–
BEP	Exit	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$0	–	-10,000	–	-0.22%	–
CNI	Exit	CANADIAN NATL RY CO	$0	–	-2,750	–	-0.23%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-6,103	–	-0.24%	–
NEM	Exit	NEWMONT MINING CORP	$0	–	-12,135	–	-0.28%	–
SH	Exit	PROSHARES TR	$0	–	-12,634	–	-0.29%	–
	Exit	AIRGAS INC	$0	–	-3,807	–	-0.33%	–
VAR	Exit	VARIAN MED SYS INC	$0	–	-5,655	–	-0.33%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,898	–	-0.34%	–
SDS	Exit	PROSHARES TR	$0	–	-12,500	–	-0.37%	–
OKE	Exit	ONEOK INC NEW	$0	–	-9,150	–	-0.40%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-21,738	–	-0.42%	–
AMJ	Exit	JPMORGAN CHASE & COalerian ml etn	$0	–	-13,000	–	-0.47%	–
PX	Exit	PRAXAIR INC	$0	–	-5,000	–	-0.49%	–
TIF	Exit	TIFFANY & CO NEW	$0	–	-9,500	–	-0.59%	–
EQT	Exit	EQT CORP	$0	–	-9,992	–	-0.66%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-7,750	–	-0.68%	–
NTG	Exit	TORTOISE MLP FD INC	$0	–	-31,000	–	-0.68%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-13,750	–	-0.72%	–
SOR	Exit	SOURCE CAP INC	$0	–	-15,300	–	-0.77%	–
EQM	Exit	EQT MIDSTREAM PARTNERS LPunit ltd partn	$0	–	-19,250	–	-0.77%	–
BIP	Exit	BROOKFIELD INFRAST PARTNERSlp int unit	$0	–	-24,650	–	-0.85%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-6,550	–	-0.90%	–
PKI	Exit	PERKINELMER INC	$0	–	-30,740	–	-0.94%	–
MON	Exit	MONSANTO CO NEW	$0	–	-11,350	–	-0.96%	–
XYL	Exit	XYLEM INC	$0	–	-43,500	–	-0.99%	–
FISV	Exit	FISERV INC	$0	–	-12,100	–	-0.99%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-30,500	–	-1.00%	–
WWD	Exit	WOODWARD INC	$0	–	-31,150	–	-1.03%	–
FE	Exit	FIRSTENERGY CORP	$0	–	-37,742	–	-1.12%	–
FMC	Exit	F M C CORP	$0	–	-19,800	–	-1.15%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-17,045	–	-1.18%	–
	Exit	ALBANY INTL CORPcl a	$0	–	-41,410	–	-1.21%	–
MMM	Exit	3M CO	$0	–	-15,500	–	-1.50%	–
PTC	Exit	PTC INC	$0	–	-67,740	–	-1.57%	–
ECL	Exit	ECOLAB INC	$0	–	-19,625	–	-1.58%	–
GLW	Exit	CORNING INC	$0	–	-134,702	–	-1.60%	–
TYPE	Exit	MONOTYPE IMAGING HOLDINGS IN	$0	–	-70,150	–	-1.63%	–
	Exit	AUTODESK INC	$0	–	-52,048	–	-1.74%	–
PLL	Exit	PALL CORP	$0	–	-27,905	–	-1.75%	–
MCRS	Exit	MICROS SYS INC	$0	–	-44,445	–	-1.80%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-38,143	–	-1.82%	–
	Exit	BECTON DICKINSON & CO	$0	–	-22,480	–	-1.83%	–
TFX	Exit	TELEFLEX INC	$0	–	-27,800	–	-1.86%	–
KEX	Exit	KIRBY CORP	$0	–	-26,469	–	-1.86%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-10,250	–	-1.89%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-34,580	–	-1.95%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-84,009	–	-2.04%	–
	Exit	ASHLAND INC NEW	$0	–	-27,325	–	-2.05%	–
	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-22,500	–	-2.08%	–
PAYX	Exit	PAYCHEX INC	$0	–	-63,218	–	-2.09%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-14,356	–	-2.12%	–
ROP	Exit	ROPER INDS INC NEW	$0	–	-20,073	–	-2.17%	–
MKC	Exit	MCCORMICK & CO INC	$0	–	-41,900	–	-2.20%	–
HEI	Exit	HEICO CORP NEW	$0	–	-40,870	–	-2.25%	–
CLH	Exit	CLEAN HARBORS INC	$0	–	-50,075	–	-2.39%	–
RBC	Exit	REGAL BELOIT CORP	$0	–	-44,075	–	-2.43%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-52,222	–	-2.45%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-33,720	–	-2.52%	–
XRAY	Exit	DENTSPLY INTL INC NEW	$0	–	-73,972	–	-2.61%	–
LII	Exit	LENNOX INTL INC	$0	–	-46,425	–	-2.84%	–
IHS	Exit	IHS INCcl a	$0	–	-33,748	–	-3.13%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-30,175	–	-3.19%	–
	Exit	BARD C R INC	$0	–	-35,900	–	-3.36%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-47,810	–	-3.43%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-53,425	–	-3.57%	–
	Exit	AIR PRODS & CHEMS INC	$0	–	-47,550	–	-4.12%	–

Q3 2013

			Value		Shares		↓ Weighting
	Buy	AIR PRODS & CHEMS INC	$5,067,000	+34.0%	47,550	+15.1%	4.12%	+13.2%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$4,397,000	+39.5%	53,425	+27.4%	3.57%	+17.9%
SLB	Buy	SCHLUMBERGER LTD	$4,225,000	+34.7%	47,810	+9.2%	3.43%	+13.8%
	Buy	BARD C R INC	$4,136,000	+9.0%	35,900	+2.9%	3.36%	-7.8%
MHK	Buy	MOHAWK INDS INC	$3,930,000	+47.1%	30,175	+27.1%	3.19%	+24.3%
IHS	Sell	IHS INCcl a	$3,853,000	+9.2%	33,748	-0.4%	3.13%	-7.8%
LII	Buy	LENNOX INTL INC	$3,494,000	+16.9%	46,425	+0.2%	2.84%	-1.3%
XRAY	Buy	DENTSPLY INTL INC NEW	$3,211,000	+11.1%	73,972	+4.8%	2.61%	-6.1%
DVN	Buy	DEVON ENERGY CORP NEW	$3,016,000	+12.1%	52,222	+0.7%	2.45%	-5.3%
RBC	Sell	REGAL BELOIT CORP	$2,994,000	-16.9%	44,075	-20.7%	2.43%	-29.8%
CLH	Sell	CLEAN HARBORS INC	$2,937,000	+13.5%	50,075	-2.0%	2.39%	-4.1%
HEI	Sell	HEICO CORP NEW	$2,769,000	+17.6%	40,870	-12.7%	2.25%	-0.6%
MKC	Buy	MCCORMICK & CO INC	$2,711,000	-7.8%	41,900	+0.2%	2.20%	-22.1%
ROP	Buy	ROPER INDS INC NEW	$2,667,000	+38.8%	20,073	+29.6%	2.17%	+17.3%
SHW	Buy	SHERWIN WILLIAMS CO	$2,615,000	+298.6%	14,356	+287.0%	2.12%	+236.8%
PAYX	Buy	PAYCHEX INC	$2,569,000	+11.5%	63,218	+0.1%	2.09%	-5.8%
	Buy	ASHLAND INC NEW	$2,527,000	+15.0%	27,325	+3.8%	2.05%	-2.8%
CVE	Buy	CENOVUS ENERGY INC	$2,507,000	+153.2%	84,009	+142.1%	2.04%	+114.1%
KEX	Sell	KIRBY CORP	$2,291,000	+7.5%	26,469	-1.2%	1.86%	-9.2%
TFX	Buy	TELEFLEX INC	$2,287,000	+94.1%	27,800	+82.9%	1.86%	+64.1%
	Buy	BECTON DICKINSON & CO	$2,248,000	+1.8%	22,480	+0.6%	1.83%	-14.0%
DD	Buy	DU PONT E I DE NEMOURS & CO	$2,233,000	+21.0%	38,143	+8.5%	1.82%	+2.3%
MCRS	Sell	MICROS SYS INC	$2,219,000	+12.1%	44,445	-3.1%	1.80%	-5.3%
PLL	Buy	PALL CORP	$2,150,000	+54.5%	27,905	+33.2%	1.75%	+30.5%
	Sell	AUTODESK INC	$2,143,000	+19.9%	52,048	-1.2%	1.74%	+1.3%
GLW	Buy	CORNING INC	$1,965,000	+3.2%	134,702	+0.7%	1.60%	-12.8%
MMM	Buy	3M CO	$1,851,000	+35.4%	15,500	+24.0%	1.50%	+14.4%
	Buy	ALBANY INTL CORPcl a	$1,485,000	+9.6%	41,410	+0.7%	1.21%	-7.4%
SIAL	Sell	SIGMA ALDRICH CORP	$1,453,000	-10.3%	17,045	-15.3%	1.18%	-24.1%
FMC	New	F M C CORP	$1,420,000	–	19,800	–	1.15%	–
FE	Buy	FIRSTENERGY CORP	$1,376,000	-1.7%	37,742	+0.6%	1.12%	-17.0%
WWD	Buy	WOODWARD INC	$1,272,000	+45.5%	31,150	+42.6%	1.03%	+22.9%
PDCO	Sell	PATTERSON COMPANIES INC	$1,226,000	-1.2%	30,500	-7.6%	1.00%	-16.6%
FISV	Sell	FISERV INC	$1,223,000	+15.2%	12,100	-0.4%	0.99%	-2.7%
XYL	New	XYLEM INC	$1,215,000	–	43,500	–	0.99%	–
MON	Buy	MONSANTO CO NEW	$1,184,000	+40.1%	11,350	+32.7%	0.96%	+18.3%
PKI	Buy	PERKINELMER INC	$1,161,000	+17.5%	30,740	+1.1%	0.94%	-0.6%
BIP	Sell	BROOKFIELD INFRAST PARTNERSlp int unit	$1,051,000	+9.6%	24,650	-6.1%	0.85%	-7.4%
NTG	Buy	TORTOISE MLP FD INC	$839,000	+2.6%	31,000	+10.7%	0.68%	-13.3%
UTX	Buy	UNITED TECHNOLOGIES CORP	$835,000	+346.5%	7,750	+287.5%	0.68%	+277.2%
EQT	Buy	EQT CORP	$807,000	+9.6%	9,992	+7.5%	0.66%	-7.3%
TIF	Sell	TIFFANY & CO NEW	$728,000	-33.4%	9,500	-36.7%	0.59%	-43.7%
AMJ	Buy	JPMORGAN CHASE & COalerian ml etn	$580,000	+24.5%	13,000	+30.0%	0.47%	+5.1%
GE	New	GENERAL ELECTRIC CO	$521,000	–	21,738	–	0.42%	–
SDS	Sell	PROSHARES TR	$457,000	-63.3%	12,500	-58.9%	0.37%	-69.0%
XOM	Sell	EXXON MOBIL CORP	$421,000	-8.5%	4,898	-3.9%	0.34%	-22.6%
	Buy	AIRGAS INC	$404,000	+21.0%	3,807	+8.8%	0.33%	+2.2%
VAR	New	VARIAN MED SYS INC	$403,000	–	5,655	–	0.33%	–
SH	Sell	PROSHARES TR	$354,000	-50.4%	12,634	-47.4%	0.29%	-58.0%
NEM	Sell	NEWMONT MINING CORP	$341,000	-8.1%	12,135	-2.9%	0.28%	-22.4%
MRK	Buy	MERCK & CO INC NEW	$291,000	+8.2%	6,103	+6.7%	0.24%	-8.5%
BEP	New	BROOKFIELD RENEWABLE ENRGY Ppartnership unit	$267,000	–	10,000	–	0.22%	–
	New	APPLE INC	$264,000	–	554	–	0.22%	–
D	New	DOMINION RES INC VA NEW	$219,000	–	3,500	–	0.18%	–
ITW	New	ILLINOIS TOOL WKS INC	$202,000	–	2,650	–	0.16%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-14,000	–	-0.48%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-10,160	–	-0.75%	–
GDI	Exit	GARDNER DENVER INC	$0	–	-17,150	–	-1.24%	–

Q2 2013

			Value		Shares		↓ Weighting
	New	BARD C R INC	$3,793,000	–	34,900	–	3.65%	–
	New	AIR PRODS & CHEMS INC	$3,782,000	–	41,300	–	3.64%	–
RBC	New	REGAL BELOIT CORP	$3,603,000	–	55,575	–	3.47%	–
IHS	New	IHS INCcl a	$3,530,000	–	33,895	–	3.40%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$3,151,000	–	41,925	–	3.03%	–
SLB	New	SCHLUMBERGER LTD	$3,137,000	–	43,774	–	3.02%	–
LII	New	LENNOX INTL INC	$2,990,000	–	46,325	–	2.88%	–
MKC	New	MCCORMICK & CO INC	$2,941,000	–	41,800	–	2.83%	–
XRAY	New	DENTSPLY INTL INC NEW	$2,890,000	–	70,565	–	2.78%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$2,854,000	–	33,720	–	2.74%	–
DVN	New	DEVON ENERGY CORP NEW	$2,690,000	–	51,841	–	2.59%	–
MHK	New	MOHAWK INDS INC	$2,672,000	–	23,750	–	2.57%	–
CLH	New	CLEAN HARBORS INC	$2,587,000	–	51,075	–	2.49%	–
	New	BERKSHIRE HATHAWAY INC DELcl b new	$2,518,000	–	22,500	–	2.42%	–
HEI	New	HEICO CORP NEW	$2,355,000	–	46,800	–	2.26%	–
PCP	New	PRECISION CASTPARTS CORP	$2,316,000	–	10,250	–	2.23%	–
PAYX	New	PAYCHEX INC	$2,305,000	–	63,137	–	2.22%	–
	New	BECTON DICKINSON & CO	$2,209,000	–	22,350	–	2.12%	–
	New	ASHLAND INC NEW	$2,198,000	–	26,325	–	2.11%	–
DHR	New	DANAHER CORP DEL	$2,189,000	–	34,580	–	2.11%	–
KEX	New	KIRBY CORP	$2,132,000	–	26,800	–	2.05%	–
MCRS	New	MICROS SYS INC	$1,980,000	–	45,875	–	1.90%	–
ROP	New	ROPER INDS INC NEW	$1,921,000	–	15,485	–	1.85%	–
GLW	New	CORNING INC	$1,904,000	–	133,802	–	1.83%	–
DD	New	DU PONT E I DE NEMOURS & CO	$1,845,000	–	35,143	–	1.78%	–
	New	AUTODESK INC	$1,787,000	–	52,674	–	1.72%	–
TYPE	New	MONOTYPE IMAGING HOLDINGS IN	$1,783,000	–	70,150	–	1.72%	–
ECL	New	ECOLAB INC	$1,672,000	–	19,625	–	1.61%	–
PTC	New	PTC INC	$1,662,000	–	67,740	–	1.60%	–
SIAL	New	SIGMA ALDRICH CORP	$1,619,000	–	20,125	–	1.56%	–
FE	New	FIRSTENERGY CORP	$1,400,000	–	37,500	–	1.35%	–
PLL	New	PALL CORP	$1,392,000	–	20,950	–	1.34%	–
MMM	New	3M CO	$1,367,000	–	12,500	–	1.32%	–
	New	ALBANY INTL CORPcl a	$1,355,000	–	41,110	–	1.30%	–
GDI	New	GARDNER DENVER INC	$1,289,000	–	17,150	–	1.24%	–
SDS	New	PROSHARES TR	$1,244,000	–	30,450	–	1.20%	–
PDCO	New	PATTERSON COMPANIES INC	$1,241,000	–	33,000	–	1.19%	–
TFX	New	TELEFLEX INC	$1,178,000	–	15,200	–	1.13%	–
TIF	New	TIFFANY & CO NEW	$1,093,000	–	15,000	–	1.05%	–
FISV	New	FISERV INC	$1,062,000	–	12,150	–	1.02%	–
CLB	New	CORE LABORATORIES N V	$993,000	–	6,550	–	0.96%	–
CVE	New	CENOVUS ENERGY INC	$990,000	–	34,700	–	0.95%	–
PKI	New	PERKINELMER INC	$988,000	–	30,400	–	0.95%	–
BIP	New	BROOKFIELD INFRAST PARTNERSlp int unit	$959,000	–	26,250	–	0.92%	–
SOR	New	SOURCE CAP INC	$945,000	–	15,300	–	0.91%	–
EQM	New	EQT MIDSTREAM PARTNERS LPunit ltd partn	$940,000	–	19,250	–	0.90%	–
WWD	New	WOODWARD INC	$874,000	–	21,850	–	0.84%	–
MON	New	MONSANTO CO NEW	$845,000	–	8,550	–	0.81%	–
NTG	New	TORTOISE MLP FD INC	$818,000	–	28,000	–	0.79%	–
PG	New	PROCTER & GAMBLE CO	$782,000	–	10,160	–	0.75%	–
EMR	New	EMERSON ELEC CO	$750,000	–	13,750	–	0.72%	–
EQT	New	EQT CORP	$736,000	–	9,292	–	0.71%	–
SH	New	PROSHARES TR	$713,000	–	24,000	–	0.69%	–
SHW	New	SHERWIN WILLIAMS CO	$656,000	–	3,710	–	0.63%	–
PX	New	PRAXAIR INC	$575,000	–	5,000	–	0.55%	–
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$504,000	–	14,000	–	0.48%	–
AMJ	New	JPMORGAN CHASE & COalerian ml etn	$466,000	–	10,000	–	0.45%	–
XOM	New	EXXON MOBIL CORP	$460,000	–	5,098	–	0.44%	–
OKE	New	ONEOK INC NEW	$378,000	–	9,150	–	0.36%	–
NEM	New	NEWMONT MINING CORP	$371,000	–	12,500	–	0.36%	–
	New	AIRGAS INC	$334,000	–	3,500	–	0.32%	–
4945SC	New	KINDER MORGAN ENERGY PARTNERut ltd partner	$278,000	–	3,250	–	0.27%	–
MRK	New	MERCK & CO INC NEW	$269,000	–	5,718	–	0.26%	–
CNI	New	CANADIAN NATL RY CO	$267,000	–	2,750	–	0.26%	–
MCD	New	MCDONALDS CORP	$247,000	–	2,500	–	0.24%	–
UTX	New	UNITED TECHNOLOGIES CORP	$187,000	–	2,000	–	0.18%	–

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