Ramsay, Stattman, Vela & Price, Inc. Activity Q4 2011-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft Corp.	$37,473,842	-8.2%	118,682	-0.9%	8.12%	-2.4%
AAPL	Sell	Apple Inc.	$33,572,879	-13.6%	196,092	-2.2%	7.27%	-8.2%
BRKB	Sell	Berkshire Hathaway Cl. B	$18,481,828	+0.7%	52,760	-2.0%	4.00%	+7.0%
DHR	Sell	Danaher Corp.	$17,204,495	+0.7%	69,345	-2.6%	3.73%	+7.1%
GOOG	Sell	Alphabet Inc. Cl. C	$15,989,713	+6.2%	121,272	-2.6%	3.46%	+12.9%
ADP	Sell	Automatic Data Proc.	$14,752,767	+7.5%	61,322	-1.8%	3.20%	+14.3%
SYK	Sell	Stryker Corp.	$14,375,368	-12.1%	52,605	-1.8%	3.11%	-6.5%
V	Sell	Visa Inc.	$13,048,467	-4.2%	56,730	-1.1%	2.83%	+1.9%
BDX	Sell	Becton Dickinson	$12,815,849	-4.9%	49,572	-2.9%	2.78%	+1.1%
JNJ	Sell	Johnson & Johnson	$12,493,106	-9.0%	80,213	-3.3%	2.71%	-3.3%
PEP	Sell	PepsiCo, Inc.	$12,118,688	-10.0%	71,522	-1.6%	2.62%	-4.3%
ITW	Sell	Illinois Tool Works	$12,095,881	-9.8%	52,520	-2.1%	2.62%	-4.1%
NVDA	Sell	Nvidia Corp.	$11,326,270	+2.5%	26,038	-0.3%	2.45%	+9.0%
ABT	Sell	Abbott Laboratories	$10,741,634	-12.5%	110,910	-1.5%	2.33%	-7.0%
HD	Sell	Home Depot Inc.	$10,656,277	-4.5%	35,267	-1.8%	2.31%	+1.6%
PG	Sell	Procter & Gamble	$10,080,968	-5.8%	69,114	-2.0%	2.18%	+0.2%
SBUX	Buy	Starbucks Corp.	$9,574,771	-7.0%	104,906	+1.0%	2.07%	-1.1%
FISV	Sell	Fiserv, Inc.	$9,568,616	-12.0%	84,708	-1.7%	2.07%	-6.4%
KO	Sell	Coca-Cola Co.	$8,723,923	-8.3%	155,840	-1.3%	1.89%	-2.5%
COST	Buy	Costco Wholesale	$8,424,119	+6.7%	14,911	+1.7%	1.82%	+13.4%
NSRGY	Buy	Nestle S.A. ADR	$8,353,530	-5.0%	73,814	+1.1%	1.81%	+1.1%
IJH	Buy	S&P Core Mid-Cap iShares	$7,695,440	-3.9%	30,862	+0.8%	1.67%	+2.1%
DEO	Buy	Diageo plc ADR	$7,683,516	-12.1%	51,505	+2.2%	1.66%	-6.6%
NKE	Sell	Nike, Inc. Cl. B	$7,625,695	-13.5%	79,750	-0.2%	1.65%	-8.1%
EMR	Sell	Emerson Electric	$7,387,219	+1.3%	76,496	-5.2%	1.60%	+7.7%
IWM	Sell	Russell 2000 iShares	$7,092,576	-5.9%	40,130	-0.3%	1.54%	+0.1%
	Buy	Linde plc	$6,927,572	-1.1%	18,605	+1.2%	1.50%	+5.2%
TMO	Buy	Thermo Fisher Scientific	$6,832,283	+115.6%	13,498	+122.2%	1.48%	+129.1%
CSCO	Sell	Cisco Systems Inc.	$6,241,106	+0.5%	116,092	-3.3%	1.35%	+6.9%
DIS	Sell	Walt Disney Co.	$5,942,424	-22.2%	73,318	-14.2%	1.29%	-17.2%
ADBE	Sell	Adobe Inc.	$5,840,905	+3.4%	11,455	-0.8%	1.26%	+9.9%
EFA	Sell	MSCI EAFE iShares	$5,256,253	-5.7%	76,266	-0.8%	1.14%	+0.4%
MKC	Buy	McCormick & Co.	$5,196,165	-11.6%	68,696	+1.9%	1.13%	-6.0%
GOOGL	Buy	Alphabet Inc. Cl. A	$5,008,012	+9.7%	38,270	+0.4%	1.08%	+16.7%
CL	Sell	Colgate-Palmolive	$4,446,366	-27.3%	62,528	-21.3%	0.96%	-22.7%
FDX	Sell	FedEx Corp.	$4,435,291	+2.0%	16,742	-4.6%	0.96%	+8.5%
MRK	Sell	Merck & Co.	$3,734,511	-22.9%	36,275	-13.5%	0.81%	-18.0%
AMAT	Sell	Applied Materials	$3,509,015	-4.5%	25,345	-0.3%	0.76%	+1.6%
PANW	Sell	Palo Alto Networks	$3,419,307	-8.4%	14,585	-0.2%	0.74%	-2.6%
APD	Sell	Air Products	$3,193,068	-5.9%	11,267	-0.5%	0.69%	+0.1%
CVX	Buy	Chevron Corp.	$3,061,633	+11.7%	18,157	+4.3%	0.66%	+18.8%
XOM	Sell	Exxon Mobil Corp.	$3,044,617	+9.5%	25,894	-0.2%	0.66%	+16.4%
VCSH	Sell	Vanguard Shrt-Trm Corp. Bond ETF	$2,959,482	-4.3%	39,381	-3.7%	0.64%	+1.7%
SPY	Buy	SPDR S&P 500 ETF	$2,439,628	-1.1%	5,707	+2.6%	0.53%	+5.4%
MCD	Sell	McDonald's Corp.	$2,018,477	-12.0%	7,662	-0.3%	0.44%	-6.4%
IDXX	Sell	IDEXX Laboratories	$1,856,211	-13.1%	4,245	-0.2%	0.40%	-7.6%
SCHP	Sell	Schwab U.S. TIPS ETF	$1,755,285	-5.8%	34,765	-2.2%	0.38%	0.0%
FTV	Sell	Fortive Corp.	$1,454,945	-3.3%	19,619	-2.5%	0.32%	+2.6%
EEM	Sell	MSCI Emerging Markets iShares	$1,379,141	-5.4%	36,341	-1.4%	0.30%	+0.7%
ZBH	Sell	Zimmer Biomet	$1,357,638	-26.4%	12,098	-4.5%	0.29%	-21.8%
VWO	Buy	Vanguard FTSE Emerg. Mkts. ETF	$1,062,120	+0.8%	27,088	+4.6%	0.23%	+7.0%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$818,089	-1.8%	18,712	+3.7%	0.18%	+4.1%
MMM	Sell	3M Company	$805,881	-18.5%	8,608	-12.9%	0.18%	-12.9%
RTX	Sell	RTX Corporation	$797,140	-41.9%	11,076	-20.9%	0.17%	-38.0%
IJR	Buy	S&P Core Small-Cap iShares	$696,344	+13.1%	7,382	+19.5%	0.15%	+20.8%
WMT	Sell	Walmart Inc.	$512,576	+1.4%	3,205	-0.3%	0.11%	+7.8%
IGSB	Sell	iShares 1-5 Year Inv. Grade C	$499,546	-31.9%	10,025	-31.5%	0.11%	-28.0%
SCHW	Sell	Charles Schwab Corp.	$406,370	-78.3%	7,402	-77.6%	0.09%	-76.9%
VOO	Sell	Vanguard S&P 500 ETF	$342,944	-42.4%	873	-40.3%	0.07%	-38.8%
	New	Kenvue Inc.	$208,671	–	10,392	–	0.04%	–
HON	Exit	Honeywell International	$0	–	-1,005	–	-0.04%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-4,997	–	-0.04%	–
	Exit	Shell plc	$0	–	-8,660	–	-0.11%	–

Q2 2023

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$40,801,800	–	119,815	–	8.31%	–
AAPL	New	Apple Inc.	$38,872,327	–	200,404	–	7.92%	–
BRKB	New	Berkshire Hathaway Cl. B	$18,360,122	–	53,842	–	3.74%	–
DHR	New	Danaher Corp.	$17,078,880	–	71,162	–	3.48%	–
SYK	New	Stryker Corp.	$16,349,773	–	53,590	–	3.33%	–
GOOG	New	Alphabet Inc. Cl. C	$15,054,233	–	124,446	–	3.07%	–
JNJ	New	Johnson & Johnson	$13,734,280	–	82,977	–	2.80%	–
ADP	New	Automatic Data Proc.	$13,721,637	–	62,431	–	2.80%	–
V	New	Visa Inc.	$13,620,665	–	57,355	–	2.78%	–
BDX	New	Becton Dickinson	$13,473,750	–	51,035	–	2.74%	–
PEP	New	PepsiCo, Inc.	$13,458,456	–	72,662	–	2.74%	–
ITW	New	Illinois Tool Works	$13,414,330	–	53,623	–	2.73%	–
ABT	New	Abbott Laboratories	$12,281,430	–	112,653	–	2.50%	–
HD	New	Home Depot Inc.	$11,154,150	–	35,907	–	2.27%	–
NVDA	New	Nvidia Corp.	$11,048,436	–	26,118	–	2.25%	–
FISV	New	Fiserv, Inc.	$10,872,869	–	86,190	–	2.22%	–
PG	New	Procter & Gamble	$10,699,794	–	70,514	–	2.18%	–
SBUX	New	Starbucks Corp.	$10,292,433	–	103,901	–	2.10%	–
KO	New	Coca-Cola Co.	$9,512,050	–	157,955	–	1.94%	–
NKE	New	Nike, Inc. Cl. B	$8,819,887	–	79,912	–	1.80%	–
NSRGY	New	Nestle S.A. ADR	$8,790,845	–	73,044	–	1.79%	–
DEO	New	Diageo plc ADR	$8,745,994	–	50,415	–	1.78%	–
IJH	New	S&P Core Mid-Cap iShares	$8,009,132	–	30,630	–	1.63%	–
COST	New	Costco Wholesale	$7,895,881	–	14,666	–	1.61%	–
DIS	New	Walt Disney Co.	$7,633,529	–	85,501	–	1.56%	–
IWM	New	Russell 2000 iShares	$7,535,370	–	40,238	–	1.54%	–
EMR	New	Emerson Electric	$7,291,671	–	80,669	–	1.49%	–
	New	Linde plc	$7,002,726	–	18,376	–	1.43%	–
AMZN	New	Amazon.com	$6,577,966	–	50,460	–	1.34%	–
CSCO	New	Cisco Systems Inc.	$6,209,162	–	120,007	–	1.26%	–
CL	New	Colgate-Palmolive	$6,117,361	–	79,405	–	1.25%	–
MKC	New	McCormick & Co.	$5,880,262	–	67,411	–	1.20%	–
ADBE	New	Adobe Inc.	$5,647,835	–	11,550	–	1.15%	–
EFA	New	MSCI EAFE iShares	$5,571,190	–	76,844	–	1.14%	–
MRK	New	Merck & Co.	$4,841,187	–	41,955	–	0.99%	–
GOOGL	New	Alphabet Inc. Cl. A	$4,564,161	–	38,130	–	0.93%	–
TSLA	New	Tesla Inc.	$4,520,768	–	17,270	–	0.92%	–
FDX	New	FedEx Corp.	$4,350,397	–	17,549	–	0.89%	–
PANW	New	Palo Alto Networks	$3,733,001	–	14,610	–	0.76%	–
AMAT	New	Applied Materials	$3,672,761	–	25,410	–	0.75%	–
APD	New	Air Products	$3,391,578	–	11,323	–	0.69%	–
TMO	New	Thermo Fisher Scientific	$3,169,631	–	6,075	–	0.65%	–
VCSH	New	Vanguard Shrt-Trm Corp. Bond ETF	$3,093,435	–	40,886	–	0.63%	–
XOM	New	Exxon Mobil Corp.	$2,781,422	–	25,934	–	0.57%	–
CVX	New	Chevron Corp.	$2,739,778	–	17,412	–	0.56%	–
SPY	New	SPDR S&P 500	$2,465,523	–	5,562	–	0.50%	–
MCD	New	McDonald's Corp.	$2,293,281	–	7,685	–	0.47%	–
BIIB	New	Biogen Inc.	$2,170,557	–	7,620	–	0.44%	–
IDXX	New	IDEXX Laboratories	$2,136,989	–	4,255	–	0.44%	–
BMY	New	Bristol-Myers Squibb	$1,891,321	–	29,575	–	0.38%	–
SCHW	New	Charles Schwab Corp.	$1,870,440	–	33,000	–	0.38%	–
SCHP	New	Schwab U.S. TIPS ETF	$1,864,149	–	35,555	–	0.38%	–
ZBH	New	Zimmer Biomet	$1,844,461	–	12,668	–	0.38%	–
QCOM	New	Qualcomm Inc.	$1,631,443	–	13,705	–	0.33%	–
FTV	New	Fortive Corp.	$1,504,298	–	20,119	–	0.31%	–
EEM	New	MSCI Emerging Markets iShares	$1,458,063	–	36,857	–	0.30%	–
JPM	New	JPMorgan Chase	$1,416,731	–	9,741	–	0.29%	–
RTX	New	RTX Corporation	$1,370,950	–	13,995	–	0.28%	–
EL	New	Estee Lauder Cos. Cl. A	$1,324,583	–	6,745	–	0.27%	–
PNC	New	PNC Financial Services	$1,259,500	–	10,000	–	0.26%	–
VGT	New	Vanguard Info. Technology ETF	$1,215,940	–	2,750	–	0.25%	–
VO	New	Vanguard Mid-Cap ETF	$1,112,909	–	5,055	–	0.23%	–
VWO	New	Vanguard FTSE Emerg. Mkts. ETF	$1,053,937	–	25,908	–	0.22%	–
MMM	New	3M Company	$988,689	–	9,878	–	0.20%	–
VEA	New	Vanguard FTSE Devel. Mkts. ETF	$833,180	–	18,042	–	0.17%	–
IGSB	New	iShares 1-5 Year Inv. Grade C	$733,736	–	14,625	–	0.15%	–
AMD	New	Advanced Micro Devices	$615,114	–	5,400	–	0.12%	–
IJR	New	S&P Core Small-Cap iShares	$615,438	–	6,176	–	0.12%	–
VOO	New	Vanguard S&P 500 ETF	$595,602	–	1,462	–	0.12%	–
	New	Shell plc	$522,891	–	8,660	–	0.11%	–
MRNA	New	Moderna Inc.	$510,300	–	4,200	–	0.10%	–
WMT	New	Walmart Inc.	$505,334	–	3,215	–	0.10%	–
T	New	AT&T Inc.	$496,141	–	31,106	–	0.10%	–
CAT	New	Caterpillar Inc.	$467,495	–	1,900	–	0.10%	–
TGT	New	Target Corp.	$339,643	–	2,575	–	0.07%	–
XEL	New	XCEL Energy	$325,336	–	5,233	–	0.07%	–
VZ	New	Verizon Communications	$316,561	–	8,512	–	0.06%	–
TTWO	New	Take-Two Interactive Software	$220,740	–	1,500	–	0.04%	–
WFC	New	Wells Fargo & Co.	$213,272	–	4,997	–	0.04%	–
HON	New	Honeywell International	$208,538	–	1,005	–	0.04%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	Warner Bros. Discovery	$0	–	-13,394	–	-0.04%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-6,342	–	-0.06%	–
APD	Exit	Air Products & Chemicals	$0	–	-1,305	–	-0.08%	–
XEL	Exit	XCEL Energy	$0	–	-5,233	–	-0.08%	–
AMD	Exit	Advanced Micro Devices	$0	–	-5,400	–	-0.08%	–
CAT	Exit	Caterpillar Inc.	$0	–	-2,100	–	-0.09%	–
WMT	Exit	Walmart Inc.	$0	–	-3,344	–	-0.11%	–
	Exit	Shell plc	$0	–	-8,835	–	-0.11%	–
MRNA	Exit	Moderna Inc.	$0	–	-4,200	–	-0.12%	–
IJR	Exit	S&P Core Small-Cap iShares	$0	–	-7,421	–	-0.16%	–
TGT	Exit	Target Corp.	$0	–	-4,745	–	-0.18%	–
T	Exit	AT&T Inc.	$0	–	-56,151	–	-0.21%	–
IGSB	Exit	iShares 1-5 Year Inv. Grade C	$0	–	-18,625	–	-0.23%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-5,055	–	-0.24%	–
ILMN	Exit	Illumina Inc.	$0	–	-5,000	–	-0.24%	–
PYPL	Exit	PayPal Holdings	$0	–	-11,275	–	-0.24%	–
JPM	Exit	JPMorgan Chase	$0	–	-10,216	–	-0.26%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-29,668	–	-0.27%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-3,600	–	-0.28%	–
RTX	Exit	Raytheon Technologies	$0	–	-14,533	–	-0.30%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-37,218	–	-0.32%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-37,347	–	-0.34%	–
IDXX	Exit	IDEXX Laboratories	$0	–	-4,265	–	-0.34%	–
EL	Exit	Estee Lauder Cos. Cl. A	$0	–	-6,745	–	-0.36%	–
PNC	Exit	PNC Financial Services	$0	–	-10,000	–	-0.37%	–
CRM	Exit	Salesforce.com	$0	–	-10,640	–	-0.38%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-13,705	–	-0.38%	–
FTV	Exit	Fortive Corp.	$0	–	-27,490	–	-0.40%	–
MCD	Exit	McDonald's Corp.	$0	–	-7,600	–	-0.44%	–
BIIB	Exit	Biogen Inc.	$0	–	-7,620	–	-0.50%	–
SPY	Exit	SPDR S&P 500	$0	–	-5,729	–	-0.51%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-29,575	–	-0.52%	–
AMAT	Exit	Applied Materials	$0	–	-25,855	–	-0.52%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-26,485	–	-0.57%	–
PANW	Exit	Palo Alto Networks	$0	–	-14,610	–	-0.59%	–
CVX	Exit	Chevron Corp.	$0	–	-17,216	–	-0.61%	–
COST	Exit	Costco Wholesale	$0	–	-5,310	–	-0.62%	–
SCHP	Exit	Schwab U.S. TIPS ETF	$0	–	-51,580	–	-0.66%	–
ZBH	Exit	Zimmer Biomet	$0	–	-26,945	–	-0.70%	–
TMO	Exit	Thermo Fisher Scientific	$0	–	-6,075	–	-0.76%	–
ADBE	Exit	Adobe Systems Inc.	$0	–	-11,550	–	-0.79%	–
MMM	Exit	3M Company	$0	–	-30,156	–	-0.83%	–
GOOGL	Exit	Alphabet Inc. Cl. A	$0	–	-36,370	–	-0.86%	–
MRK	Exit	Merck & Co.	$0	–	-44,380	–	-0.95%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-74,038	–	-1.03%	–
NVDA	Exit	Nvidia Corp.	$0	–	-34,534	–	-1.04%	–
VCSH	Exit	Vanguard Short-Term Corp. Bond ETF	$0	–	-57,164	–	-1.05%	–
TSLA	Exit	Tesla Inc.	$0	–	-17,405	–	-1.14%	–
MKC	Exit	McCormick & Co.	$0	–	-64,938	–	-1.15%	–
LIN	Exit	Linde plc	$0	–	-17,983	–	-1.20%	–
CSCO	Exit	Cisco Systems Inc.	$0	–	-128,370	–	-1.27%	–
AMZN	Exit	Amazon.com	$0	–	-50,480	–	-1.42%	–
EMR	Exit	Emerson Electric Co.	$0	–	-79,853	–	-1.45%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-85,081	–	-1.48%	–
FDX	Exit	FedEx Corp.	$0	–	-44,099	–	-1.62%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-30,351	–	-1.65%	–
IWM	Exit	Russell 2000 iShares	$0	–	-41,218	–	-1.69%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-82,392	–	-1.70%	–
FISV	Exit	Fiserv, Inc.	$0	–	-76,764	–	-1.78%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-71,370	–	-1.90%	–
DIS	Exit	Walt Disney Co.	$0	–	-81,683	–	-1.91%	–
DEO	Exit	Diageo plc ADR	$0	–	-49,524	–	-2.09%	–
PG	Exit	Procter & Gamble Co.	$0	–	-69,216	–	-2.17%	–
KO	Exit	Coca-Cola Co.	$0	–	-156,753	–	-2.18%	–
SBUX	Exit	Starbucks Corp.	$0	–	-105,247	–	-2.20%	–
V	Exit	Visa Inc.	$0	–	-54,315	–	-2.39%	–
ITW	Exit	Illinois Tool Works	$0	–	-54,123	–	-2.43%	–
HD	Exit	Home Depot Inc.	$0	–	-35,785	–	-2.45%	–
ABT	Exit	Abbott Laboratories	$0	–	-113,277	–	-2.72%	–
BDX	Exit	Becton Dickinson	$0	–	-49,906	–	-2.76%	–
SYK	Exit	Stryker Corp.	$0	–	-55,039	–	-2.77%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-123,015	–	-2.93%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-72,846	–	-2.95%	–
JNJ	Exit	Johnson & Johnson	$0	–	-80,447	–	-3.26%	–
ADP	Exit	Automatic Data Proc.	$0	–	-62,310	–	-3.50%	–
BRKB	Exit	Berkshire Hathaway Cl. B	$0	–	-53,102	–	-3.52%	–
DHR	Exit	Danaher Corp.	$0	–	-66,555	–	-4.26%	–
MSFT	Exit	Microsoft Corp.	$0	–	-121,790	–	-7.04%	–
AAPL	Exit	Apple Inc.	$0	–	-209,437	–	-7.18%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Inc.	$28,944,000	-2.8%	209,437	-3.8%	7.18%	+7.6%
MSFT	Sell	Microsoft Corp.	$28,365,000	-9.6%	121,790	-0.4%	7.04%	+0.1%
DHR	Sell	Danaher Corp.	$17,190,000	+0.8%	66,555	-1.0%	4.26%	+11.6%
BRKB	Sell	Berkshire Hathaway Cl. B	$14,179,000	-3.4%	53,102	-1.2%	3.52%	+7.0%
ADP	Sell	Automatic Data Proc.	$14,094,000	+4.0%	62,310	-3.5%	3.50%	+15.1%
JNJ	Sell	Johnson & Johnson	$13,142,000	-10.4%	80,447	-2.6%	3.26%	-0.8%
PEP	Sell	PepsiCo, Inc.	$11,893,000	-4.5%	72,846	-2.6%	2.95%	+5.7%
GOOG	Buy	Alphabet Inc. Cl. C	$11,828,000	-12.1%	123,015	+1898.9%	2.93%	-2.7%
SYK	Buy	Stryker Corp.	$11,148,000	+6.0%	55,039	+4.1%	2.77%	+17.4%
BDX	Buy	Becton Dickinson	$11,121,000	-2.2%	49,906	+8.2%	2.76%	+8.3%
ABT	Sell	Abbott Laboratories	$10,961,000	-11.2%	113,277	-0.3%	2.72%	-1.7%
HD	Sell	Home Depot Inc.	$9,875,000	-1.8%	35,785	-2.4%	2.45%	+8.8%
ITW	Sell	Illinois Tool Works	$9,777,000	-0.9%	54,123	-0.0%	2.43%	+9.7%
V	Buy	Visa Inc.	$9,649,000	-9.8%	54,315	+0.0%	2.39%	-0.1%
SBUX	Sell	Starbucks Corp.	$8,868,000	+10.2%	105,247	-0.1%	2.20%	+22.0%
KO	Sell	Coca-Cola Co.	$8,781,000	-16.6%	156,753	-6.3%	2.18%	-7.7%
PG	Sell	Procter & Gamble Co.	$8,739,000	-15.2%	69,216	-3.4%	2.17%	-6.1%
DEO	Sell	Diageo plc ADR	$8,410,000	-6.5%	49,524	-4.2%	2.09%	+3.5%
DIS	Sell	Walt Disney Co.	$7,705,000	-7.1%	81,683	-7.1%	1.91%	+2.9%
NSRGY	Sell	Nestle S.A. ADR	$7,680,000	-11.9%	71,370	-4.7%	1.90%	-2.5%
FISV	Sell	Fiserv, Inc.	$7,183,000	+3.1%	76,764	-2.0%	1.78%	+14.2%
NKE	Sell	Nike, Inc. Cl. B	$6,848,000	-18.7%	82,392	-0.1%	1.70%	-10.0%
IWM	Sell	Russell 2000 iShares	$6,798,000	-3.0%	41,218	-0.4%	1.69%	+7.5%
IJH	Sell	S&P Core Mid-Cap iShares	$6,655,000	-3.5%	30,351	-0.5%	1.65%	+6.9%
FDX	Sell	FedEx Corp.	$6,547,000	-37.1%	44,099	-4.0%	1.62%	-30.4%
CL	Sell	Colgate-Palmolive Co.	$5,977,000	-18.0%	85,081	-6.5%	1.48%	-9.2%
EMR	Buy	Emerson Electric Co.	$5,847,000	-7.2%	79,853	+0.8%	1.45%	+2.8%
CSCO	Buy	Cisco Systems Inc.	$5,135,000	-4.4%	128,370	+1.9%	1.27%	+5.8%
LIN	Buy	Linde plc	$4,848,000	-5.7%	17,983	+0.5%	1.20%	+4.4%
MKC	Buy	McCormick & Co.	$4,628,000	-13.6%	64,938	+1.0%	1.15%	-4.3%
TSLA	Buy	Tesla Inc.	$4,617,000	+17.9%	17,405	+199.3%	1.14%	+30.6%
VCSH	Sell	Vanguard Short-Term Corp. Bond ETF	$4,246,000	-55.5%	57,164	-54.3%	1.05%	-50.7%
NVDA	Sell	Nvidia Corp.	$4,192,000	-20.1%	34,534	-0.2%	1.04%	-11.6%
EFA	Sell	MSCI EAFE iShares	$4,147,000	-11.7%	74,038	-1.5%	1.03%	-2.3%
MRK	Sell	Merck & Co.	$3,822,000	-12.7%	44,380	-7.6%	0.95%	-3.4%
GOOGL	Buy	Alphabet Inc. Cl. A	$3,479,000	+2.6%	36,370	+2237.4%	0.86%	+13.6%
MMM	Sell	3M Company	$3,332,000	-24.5%	30,156	-11.6%	0.83%	-16.4%
ADBE	Buy	Adobe Systems Inc.	$3,179,000	-17.1%	11,550	+10.2%	0.79%	-8.1%
ZBH	Sell	Zimmer Biomet	$2,817,000	-1.5%	26,945	-1.0%	0.70%	+9.0%
SCHP	Sell	Schwab U.S. TIPS ETF	$2,672,000	-14.9%	51,580	-8.4%	0.66%	-5.8%
CVX	Buy	Chevron Corp.	$2,473,000	+7.3%	17,216	+8.1%	0.61%	+19.0%
PANW	Buy	Palo Alto Networks	$2,393,000	-0.5%	14,610	+200.0%	0.59%	+10.2%
XOM	Sell	Exxon Mobil Corp.	$2,312,000	+1.8%	26,485	-0.1%	0.57%	+12.8%
SPY	Sell	SPDR S&P 500	$2,046,000	-5.5%	5,729	-0.1%	0.51%	+4.7%
BIIB	Sell	Biogen Inc.	$2,035,000	+12.2%	7,620	-14.3%	0.50%	+24.4%
FTV	Sell	Fortive Corp.	$1,603,000	+6.4%	27,490	-0.8%	0.40%	+17.8%
QCOM	Sell	Qualcomm Inc.	$1,548,000	-36.3%	13,705	-28.0%	0.38%	-29.5%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$1,358,000	-9.8%	37,347	+1.2%	0.34%	0.0%
EEM	Sell	MSCI Emerging Markets iShares	$1,298,000	-14.9%	37,218	-2.1%	0.32%	-5.8%
RTX	Sell	Raytheon Technologies	$1,190,000	-38.8%	14,533	-28.2%	0.30%	-32.3%
VGT	Sell	Vanguard Info. Technology ETF	$1,107,000	-10.8%	3,600	-5.3%	0.28%	-1.1%
VWO	Sell	Vanguard FTSE Emerg. Mkts. ETF	$1,083,000	-13.2%	29,668	-0.9%	0.27%	-3.6%
PYPL	Sell	PayPal Holdings	$970,000	+16.4%	11,275	-5.5%	0.24%	+28.9%
ILMN	Sell	Illumina Inc.	$954,000	+1.9%	5,000	-1.5%	0.24%	+12.9%
IGSB	Sell	iShares 1-5 Year Inv. Grade C	$918,000	-59.3%	18,625	-58.3%	0.23%	-54.9%
IJR	Sell	S&P Core Small-Cap iShares	$647,000	-7.6%	7,421	-2.0%	0.16%	+2.5%
APD	New	Air Products & Chemicals	$304,000	–	1,305	–	0.08%	–
OTIS	Exit	Otis Worldwide	$0	–	-2,922	–	-0.05%	–
MDT	Exit	Medtronic PLC F	$0	–	-2,563	–	-0.05%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-6,850	–	-0.11%	–
INTC	Exit	Intel Corp.	$0	–	-16,215	–	-0.14%	–
TJX	Exit	TJX Cos. Inc.	$0	–	-10,932	–	-0.14%	–
FB	Exit	Meta Platforms	$0	–	-3,980	–	-0.14%	–
URI	Exit	United Rentals	$0	–	-2,800	–	-0.15%	–
NFLX	Exit	Netflix Inc.	$0	–	-4,035	–	-0.16%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-17,761	–	-0.17%	–
ORCL	Exit	Oracle Corp.	$0	–	-11,436	–	-0.18%	–
DE	Exit	Deere & Co.	$0	–	-2,816	–	-0.19%	–

Q2 2022

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$31,391,000	–	122,224	–	7.03%	–
AAPL	New	Apple Inc.	$29,775,000	–	217,784	–	6.67%	–
DHR	New	Danaher Corp.	$17,050,000	–	67,255	–	3.82%	–
BRKB	New	Berkshire Hathaway Cl. B	$14,679,000	–	53,767	–	3.29%	–
JNJ	New	Johnson & Johnson	$14,667,000	–	82,627	–	3.29%	–
ADP	New	Automatic Data Proc.	$13,558,000	–	64,550	–	3.04%	–
GOOG	New	Alphabet Inc. Cl. C	$13,462,000	–	6,154	–	3.02%	–
PEP	New	PepsiCo, Inc.	$12,459,000	–	74,757	–	2.79%	–
ABT	New	Abbott Laboratories	$12,350,000	–	113,665	–	2.77%	–
BDX	New	Becton Dickinson	$11,368,000	–	46,111	–	2.55%	–
V	New	Visa Inc.	$10,693,000	–	54,310	–	2.40%	–
KO	New	Coca-Cola Co.	$10,529,000	–	167,361	–	2.36%	–
SYK	New	Stryker Corp.	$10,516,000	–	52,864	–	2.36%	–
FDX	New	FedEx Corp.	$10,415,000	–	45,939	–	2.33%	–
PG	New	Procter & Gamble Co.	$10,306,000	–	71,676	–	2.31%	–
HD	New	Home Depot Inc.	$10,052,000	–	36,650	–	2.25%	–
ITW	New	Illinois Tool Works	$9,869,000	–	54,149	–	2.21%	–
VCSH	New	Vanguard Sht-Term Corp. Bond ETF	$9,533,000	–	125,005	–	2.14%	–
DEO	New	Diageo plc ADR	$8,997,000	–	51,669	–	2.02%	–
NSRGY	New	Nestle S.A. ADR	$8,716,000	–	74,885	–	1.95%	–
NKE	New	Nike, Inc. Cl.B	$8,428,000	–	82,462	–	1.89%	–
DIS	New	Walt Disney Co.	$8,296,000	–	87,885	–	1.86%	–
SBUX	New	Starbucks Corp.	$8,050,000	–	105,382	–	1.80%	–
CL	New	Colgate-Palmolive Co.	$7,290,000	–	90,966	–	1.63%	–
IWM	New	iShares Russell 2000	$7,009,000	–	41,383	–	1.57%	–
FISV	New	Fiserv, Inc.	$6,966,000	–	78,299	–	1.56%	–
IJH	New	iShares S&P Core Mid-Cap	$6,898,000	–	30,491	–	1.54%	–
EMR	New	Emerson Electric Co.	$6,300,000	–	79,203	–	1.41%	–
CSCO	New	Cisco Systems Inc.	$5,374,000	–	126,025	–	1.20%	–
AMZN	New	Amazon.com	$5,361,000	–	50,480	–	1.20%	–
MKC	New	McCormick & Co.	$5,354,000	–	64,318	–	1.20%	–
NVDA	New	Nvidia Corp.	$5,247,000	–	34,614	–	1.18%	–
LIN	New	Linde plc	$5,143,000	–	17,888	–	1.15%	–
EFA	New	MSCI EAFE iShares	$4,698,000	–	75,183	–	1.05%	–
MMM	New	3M Company	$4,414,000	–	34,111	–	0.99%	–
MRK	New	Merck & Co.	$4,378,000	–	48,020	–	0.98%	–
TSLA	New	Tesla Inc.	$3,916,000	–	5,815	–	0.88%	–
ADBE	New	Adobe Systems Inc.	$3,836,000	–	10,480	–	0.86%	–
GOOGL	New	Alphabet Inc. Cl. A	$3,391,000	–	1,556	–	0.76%	–
TMO	New	Thermo Fisher Scientific	$3,300,000	–	6,075	–	0.74%	–
SCHP	New	Schwab U.S. TIPS ETF	$3,141,000	–	56,285	–	0.70%	–
ZBH	New	Zimmer Biomet	$2,860,000	–	27,225	–	0.64%	–
COST	New	Costco Wholesale	$2,545,000	–	5,310	–	0.57%	–
QCOM	New	Qualcomm Inc.	$2,431,000	–	19,027	–	0.54%	–
PANW	New	Palo Alto Networks	$2,405,000	–	4,870	–	0.54%	–
AMAT	New	Applied Materials	$2,352,000	–	25,855	–	0.53%	–
CVX	New	Chevron Corp.	$2,305,000	–	15,921	–	0.52%	–
BMY	New	Bristol-Myers Squibb	$2,277,000	–	29,575	–	0.51%	–
XOM	New	Exxon Mobil Corp.	$2,271,000	–	26,520	–	0.51%	–
IGSB	New	iShares 1-5 Year Inv. Grade C	$2,255,000	–	44,615	–	0.50%	–
SPY	New	SPDR S&P 500 ETF	$2,164,000	–	5,735	–	0.48%	–
RTX	New	Raytheon Technologies	$1,946,000	–	20,248	–	0.44%	–
MCD	New	McDonald's Corp.	$1,876,000	–	7,600	–	0.42%	–
BIIB	New	Biogen Inc.	$1,814,000	–	8,895	–	0.41%	–
CRM	New	Salesforce.com	$1,756,000	–	10,640	–	0.39%	–
EL	New	Estee Lauder Cos. Cl. A	$1,718,000	–	6,745	–	0.38%	–
PNC	New	PNC Financial Services	$1,578,000	–	10,000	–	0.35%	–
EEM	New	MSCI Emerging Markets iShares	$1,525,000	–	38,023	–	0.34%	–
FTV	New	Fortive Corp.	$1,507,000	–	27,705	–	0.34%	–
VEA	New	Vanguard FTSE Devel. Mkets. ETF	$1,506,000	–	36,902	–	0.34%	–
IDXX	New	IDEXX Laboratories	$1,496,000	–	4,265	–	0.34%	–
VWO	New	Vanguard FTSE Emerg. Mkts. ETF	$1,247,000	–	29,938	–	0.28%	–
VGT	New	Vanguard Info. Technology ETF	$1,241,000	–	3,800	–	0.28%	–
T	New	AT&T Inc.	$1,177,000	–	56,151	–	0.26%	–
JPM	New	JPMorgan Chase	$1,150,000	–	10,216	–	0.26%	–
VO	New	Vanguard Mid-Cap ETF	$996,000	–	5,055	–	0.22%	–
ILMN	New	Illumina Inc.	$936,000	–	5,075	–	0.21%	–
DE	New	Deere & Co.	$843,000	–	2,816	–	0.19%	–
PYPL	New	PayPal Holdings	$833,000	–	11,930	–	0.19%	–
ORCL	New	Oracle Corp.	$799,000	–	11,436	–	0.18%	–
GSK	New	GlaxoSmithKline PLC ADR	$773,000	–	17,761	–	0.17%	–
NFLX	New	Netflix Inc.	$706,000	–	4,035	–	0.16%	–
IJR	New	iShares S&P Core Small-Cap	$700,000	–	7,576	–	0.16%	–
URI	New	United Rentals	$680,000	–	2,800	–	0.15%	–
TGT	New	Target Corp.	$670,000	–	4,745	–	0.15%	–
FB	New	Meta Platforms	$642,000	–	3,980	–	0.14%	–
TJX	New	TJX Cos. Inc.	$611,000	–	10,932	–	0.14%	–
INTC	New	Intel Corp.	$607,000	–	16,215	–	0.14%	–
MRNA	New	Moderna Inc.	$600,000	–	4,200	–	0.13%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$474,000	–	6,850	–	0.11%	–
	New	Shell plc	$462,000	–	8,835	–	0.10%	–
AMD	New	Advanced Micro Devices	$413,000	–	5,400	–	0.09%	–
WMT	New	Walmart Inc.	$407,000	–	3,344	–	0.09%	–
CAT	New	Caterpillar Inc.	$375,000	–	2,100	–	0.08%	–
XEL	New	XCEL Energy	$370,000	–	5,233	–	0.08%	–
WFC	New	Wells Fargo & Co.	$248,000	–	6,342	–	0.06%	–
MDT	New	Medtronic PLC F	$230,000	–	2,563	–	0.05%	–
OTIS	New	Otis Worldwide	$206,000	–	2,922	–	0.05%	–
	New	Warner Bros. Discovery	$180,000	–	13,394	–	0.04%	–

Q4 2021

			Value		Shares		↓ Weighting
GLW	Exit	Corning Inc.	$0	–	-5,603	–	-0.05%	–
GOOGL	Exit	Alphabet Inc. Cl. A	$0	–	-80	–	-0.05%	–
OTIS	Exit	Otis Worldwide	$0	–	-2,922	–	-0.06%	–
COST	Exit	Costco Wholesale	$0	–	-555	–	-0.06%	–
JPM	Exit	JPMorgan Chase	$0	–	-1,561	–	-0.06%	–
XEL	Exit	XCEL Energy	$0	–	-4,573	–	-0.07%	–
RDSA	Exit	Royal Dutch Shell Cl. A	$0	–	-6,675	–	-0.07%	–
MDT	Exit	Medtronic PLC F	$0	–	-2,563	–	-0.08%	–
CAT	Exit	Caterpillar Inc.	$0	–	-1,750	–	-0.08%	–
QQQ	Exit	Invesco QQQ Trust	$0	–	-1,000	–	-0.09%	–
WMT	Exit	Walmart Inc.	$0	–	-3,424	–	-0.12%	–
MCD	Exit	McDonald's Corp.	$0	–	-2,120	–	-0.13%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-7,850	–	-0.17%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-17,761	–	-0.17%	–
TJX	Exit	TJX Cos. Inc.	$0	–	-10,932	–	-0.18%	–
IJR	Exit	S&P Core Small-Cap iShares	$0	–	-6,931	–	-0.19%	–
INTC	Exit	Intel Corp.	$0	–	-16,215	–	-0.22%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-7,140	–	-0.23%	–
TGT	Exit	Target Corp.	$0	–	-4,055	–	-0.23%	–
ORCL	Exit	Oracle Corp.	$0	–	-11,786	–	-0.26%	–
DE	Exit	Deere & Co.	$0	–	-3,536	–	-0.30%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-5,055	–	-0.30%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-26,994	–	-0.31%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-29,418	–	-0.37%	–
T	Exit	AT&T Inc.	$0	–	-57,761	–	-0.39%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-26,840	–	-0.39%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-4,000	–	-0.40%	–
CVX	Exit	Chevron Corp.	$0	–	-16,221	–	-0.41%	–
RTX	Exit	Raytheon Technologies	$0	–	-20,530	–	-0.44%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-35,597	–	-0.45%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-39,173	–	-0.49%	–
SPY	Exit	SPDR S&P 500 ETF	$0	–	-5,762	–	-0.62%	–
SCHP	Exit	Schwab U.S. TIPS ETF	$0	–	-44,165	–	-0.69%	–
MRK	Exit	Merck & Co.	$0	–	-47,400	–	-0.89%	–
ZBH	Exit	Zimmer Biomet	$0	–	-30,640	–	-1.12%	–
FTV	Exit	Fortive Corp.	$0	–	-67,445	–	-1.19%	–
CSCO	Exit	Cisco Systems Inc.	$0	–	-90,490	–	-1.23%	–
MKC	Exit	McCormick & Co.	$0	–	-64,636	–	-1.30%	–
FISV	Exit	Fiserv, Inc.	$0	–	-55,192	–	-1.49%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-78,523	–	-1.53%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-96,305	–	-1.81%	–
HD	Exit	Home Depot Inc.	$0	–	-22,337	–	-1.83%	–
EMR	Exit	Emerson Electric Co.	$0	–	-78,018	–	-1.83%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-31,034	–	-2.03%	–
MMM	Exit	3M Company	$0	–	-46,929	–	-2.05%	–
FDX	Exit	FedEx Corp.	$0	–	-37,929	–	-2.07%	–
KO	Exit	Coca-Cola Co.	$0	–	-168,966	–	-2.21%	–
V	Exit	Visa Inc.	$0	–	-40,370	–	-2.24%	–
SBUX	Exit	Starbucks Corp.	$0	–	-84,236	–	-2.32%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-78,186	–	-2.34%	–
IWM	Exit	Russell 2000 iShares	$0	–	-43,546	–	-2.37%	–
PG	Exit	Procter & Gamble Co.	$0	–	-72,524	–	-2.53%	–
DEO	Exit	Diageo plc ADR	$0	–	-53,428	–	-2.57%	–
ITW	Exit	Illinois Tool Works	$0	–	-53,218	–	-2.74%	–
BDX	Exit	Becton Dickinson	$0	–	-45,548	–	-2.79%	–
DIS	Exit	Walt Disney Co.	$0	–	-66,376	–	-2.80%	–
JNJ	Exit	Johnson & Johnson	$0	–	-69,683	–	-2.80%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-76,405	–	-2.86%	–
ADP	Exit	Automatic Data Proc.	$0	–	-59,468	–	-2.96%	–
VCSH	Exit	Vanguard Shrt-Trm Corp. Bond ETF	$0	–	-144,582	–	-2.97%	–
SYK	Exit	Stryker Corp.	$0	–	-47,900	–	-3.15%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-87,172	–	-3.16%	–
ABT	Exit	Abbott Laboratories	$0	–	-113,875	–	-3.35%	–
BRKB	Exit	Berkshire Hathaway Cl. B	$0	–	-52,411	–	-3.56%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-6,069	–	-4.03%	–
DHR	Exit	Danaher Corp.	$0	–	-71,309	–	-5.41%	–
MSFT	Exit	Microsoft Corp.	$0	–	-83,106	–	-5.84%	–
AAPL	Exit	Apple Inc.	$0	–	-184,632	–	-6.51%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Inc.	$26,125,000	+2.4%	184,632	-0.8%	6.51%	+3.3%
MSFT	Sell	Microsoft Corp.	$23,429,000	+3.2%	83,106	-0.8%	5.84%	+4.0%
DHR	Sell	Danaher Corp.	$21,709,000	+12.4%	71,309	-0.9%	5.41%	+13.3%
GOOG	Sell	Alphabet Inc. Cl. C	$16,176,000	+5.9%	6,069	-0.4%	4.03%	+6.7%
BRKB	Buy	Berkshire Hathaway Cl. B	$14,305,000	-1.7%	52,411	+0.1%	3.56%	-0.9%
ABT	Sell	Abbott Laboratories	$13,452,000	+1.5%	113,875	-0.4%	3.35%	+2.3%
NKE	Sell	Nike, Inc. Cl. B	$12,660,000	-6.9%	87,172	-1.0%	3.16%	-6.2%
SYK	Sell	Stryker Corp.	$12,632,000	+1.0%	47,900	-0.5%	3.15%	+1.8%
VCSH	Buy	Vanguard Shrt-Trm Corp. Bond ETF	$11,915,000	+4.8%	144,582	+5.2%	2.97%	+5.7%
ADP	Sell	Automatic Data Proc.	$11,889,000	+0.5%	59,468	-0.1%	2.96%	+1.3%
PEP	Sell	PepsiCo, Inc.	$11,492,000	+1.4%	76,405	-0.1%	2.86%	+2.2%
JNJ	Buy	Johnson & Johnson	$11,254,000	-1.5%	69,683	+0.5%	2.80%	-0.7%
DIS	Buy	Walt Disney Co.	$11,229,000	-3.5%	66,376	+0.2%	2.80%	-2.7%
BDX	Buy	Becton Dickinson	$11,197,000	+2.0%	45,548	+0.9%	2.79%	+2.8%
ITW	Sell	Illinois Tool Works	$10,996,000	-7.9%	53,218	-0.4%	2.74%	-7.2%
DEO	Sell	Diageo plc ADR	$10,312,000	+0.4%	53,428	-0.3%	2.57%	+1.1%
PG	Buy	Procter & Gamble Co.	$10,139,000	+3.8%	72,524	+0.2%	2.53%	+4.6%
IWM	Sell	Russell 2000 iShares	$9,526,000	-5.3%	43,546	-0.7%	2.37%	-4.5%
NSRGY	Sell	Nestle S.A. ADR	$9,399,000	-4.2%	78,186	-0.6%	2.34%	-3.5%
SBUX	Sell	Starbucks Corp.	$9,292,000	-1.6%	84,236	-0.3%	2.32%	-0.9%
V	Buy	Visa Inc.	$8,992,000	-4.5%	40,370	+0.3%	2.24%	-3.7%
KO	Buy	Coca-Cola Co.	$8,866,000	-2.4%	168,966	+0.6%	2.21%	-1.7%
FDX	Buy	FedEx Corp.	$8,317,000	-25.4%	37,929	+1.5%	2.07%	-24.8%
MMM	Buy	3M Company	$8,232,000	-10.6%	46,929	+1.3%	2.05%	-9.9%
IJH	Sell	S&P Core Mid-Cap iShares	$8,164,000	-2.9%	31,034	-0.8%	2.03%	-2.1%
EMR	Sell	Emerson Electric Co.	$7,349,000	-2.7%	78,018	-0.6%	1.83%	-1.9%
HD	Buy	Home Depot Inc.	$7,332,000	+4.1%	22,337	+1.1%	1.83%	+4.9%
CL	Sell	Colgate-Palmolive Co.	$7,279,000	-8.8%	96,305	-1.9%	1.81%	-8.1%
EFA	Sell	MSCI EAFE iShares	$6,126,000	-1.7%	78,523	-0.7%	1.53%	-1.0%
FISV	Buy	Fiserv, Inc.	$5,988,000	+16.7%	55,192	+14.9%	1.49%	+17.6%
MKC	Buy	McCormick & Co.	$5,237,000	-6.6%	64,636	+1.8%	1.30%	-5.8%
CSCO	Buy	Cisco Systems Inc.	$4,925,000	+4.9%	90,490	+2.1%	1.23%	+5.7%
FTV	Sell	Fortive Corp.	$4,760,000	-0.8%	67,445	-1.9%	1.19%	0.0%
ZBH	Sell	Zimmer Biomet	$4,484,000	-11.6%	30,640	-2.9%	1.12%	-10.9%
MRK	Buy	Merck & Co.	$3,560,000	+2.1%	47,400	+5.7%	0.89%	+2.9%
SCHP	Buy	Schwab U.S. TIPS ETF	$2,764,000	+6.1%	44,165	+6.0%	0.69%	+7.0%
SPY	Buy	SPDR S&P 500 ETF	$2,473,000	+1.4%	5,762	+1.1%	0.62%	+2.2%
EEM	Sell	MSCI Emerging Markets iShares	$1,974,000	-11.0%	39,173	-2.6%	0.49%	-10.4%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$1,797,000	+4.0%	35,597	+6.1%	0.45%	+4.9%
CVX	Buy	Chevron Corp.	$1,646,000	+9.7%	16,221	+13.3%	0.41%	+10.5%
XOM	Sell	Exxon Mobil Corp.	$1,579,000	-15.2%	26,840	-9.1%	0.39%	-14.8%
T	Sell	AT&T Inc.	$1,560,000	-8.2%	57,761	-2.2%	0.39%	-7.4%
VWO	Sell	Vanguard FTSE Emerg. Mkts. ETF	$1,471,000	-8.7%	29,418	-0.8%	0.37%	-7.8%
WFC	Sell	Wells Fargo & Co.	$1,253,000	-11.1%	26,994	-13.3%	0.31%	-10.6%
TGT	Buy	Target Corp.	$928,000	+26.8%	4,055	+33.8%	0.23%	+27.6%
INTC	Sell	Intel Corp.	$864,000	-5.6%	16,215	-0.5%	0.22%	-4.9%
IJR	Buy	S&P Core Small-Cap iShares	$757,000	-2.3%	6,931	+1.0%	0.19%	-1.6%
MCD	Sell	McDonald's Corp.	$511,000	+2.6%	2,120	-1.8%	0.13%	+3.3%
XEL	Sell	XCEL Energy	$286,000	-15.6%	4,573	-11.1%	0.07%	-15.5%
COST	Sell	Costco Wholesale	$249,000	+12.2%	555	-0.9%	0.06%	+12.7%
OTIS	Sell	Otis Worldwide	$240,000	-3.2%	2,922	-3.7%	0.06%	-1.6%
GOOGL	New	Alphabet Inc. Cl. A	$214,000	–	80	–	0.05%	–
GLW	Sell	Corning Inc.	$204,000	-24.4%	5,603	-15.1%	0.05%	-23.9%

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc.	$25,502,000	–	186,199	–	6.30%	–
MSFT	New	Microsoft Corp.	$22,700,000	–	83,793	–	5.61%	–
DHR	New	Danaher Corp.	$19,315,000	–	71,975	–	4.78%	–
GOOG	New	Alphabet Inc. Cl. C	$15,279,000	–	6,096	–	3.78%	–
BRKB	New	Berkshire Hathaway Cl. B	$14,554,000	–	52,368	–	3.60%	–
NKE	New	Nike, Inc. Cl. B	$13,602,000	–	88,043	–	3.36%	–
ABT	New	Abbott Laboratories	$13,251,000	–	114,299	–	3.28%	–
SYK	New	Stryker Corp.	$12,508,000	–	48,159	–	3.09%	–
ITW	New	Illinois Tool Works	$11,942,000	–	53,418	–	2.95%	–
ADP	New	Automatic Data Proc.	$11,824,000	–	59,529	–	2.92%	–
DIS	New	Walt Disney Co.	$11,638,000	–	66,212	–	2.88%	–
JNJ	New	Johnson & Johnson	$11,421,000	–	69,326	–	2.82%	–
VCSH	New	Vanguard Shrt-Trm Corp. Bond ETF	$11,367,000	–	137,438	–	2.81%	–
PEP	New	PepsiCo, Inc.	$11,337,000	–	76,515	–	2.80%	–
FDX	New	FedEx Corp.	$11,148,000	–	37,369	–	2.76%	–
BDX	New	Becton Dickinson	$10,981,000	–	45,155	–	2.72%	–
DEO	New	Diageo plc ADR	$10,276,000	–	53,608	–	2.54%	–
IWM	New	Russell 2000 iShares	$10,054,000	–	43,831	–	2.49%	–
NSRGY	New	Nestle S.A. ADR	$9,812,000	–	78,660	–	2.43%	–
PG	New	Procter & Gamble Co.	$9,770,000	–	72,411	–	2.42%	–
SBUX	New	Starbucks Corp.	$9,444,000	–	84,465	–	2.34%	–
V	New	Visa Inc.	$9,415,000	–	40,265	–	2.33%	–
MMM	New	3M Company	$9,205,000	–	46,342	–	2.28%	–
KO	New	Coca-Cola Co.	$9,087,000	–	167,931	–	2.25%	–
IJH	New	S&P Core Mid-Cap iShares	$8,407,000	–	31,284	–	2.08%	–
CL	New	Colgate-Palmolive Co.	$7,983,000	–	98,135	–	1.97%	–
EMR	New	Emerson Electric Co.	$7,551,000	–	78,458	–	1.87%	–
HD	New	Home Depot Inc.	$7,046,000	–	22,094	–	1.74%	–
EFA	New	MSCI EAFE iShares	$6,235,000	–	79,038	–	1.54%	–
MKC	New	McCormick & Co.	$5,607,000	–	63,488	–	1.39%	–
FISV	New	Fiserv, Inc.	$5,133,000	–	48,025	–	1.27%	–
ZBH	New	Zimmer Biomet	$5,072,000	–	31,540	–	1.25%	–
FTV	New	Fortive Corp.	$4,796,000	–	68,767	–	1.19%	–
CSCO	New	Cisco Systems Inc.	$4,696,000	–	88,600	–	1.16%	–
MRK	New	Merck & Co.	$3,487,000	–	44,835	–	0.86%	–
SCHP	New	Schwab U.S. TIPS ETF	$2,604,000	–	41,650	–	0.64%	–
SPY	New	SPDR S&P 500	$2,439,000	–	5,697	–	0.60%	–
EEM	New	MSCI Emerging Markets iShares	$2,219,000	–	40,228	–	0.55%	–
XOM	New	Exxon Mobil Corp.	$1,863,000	–	29,540	–	0.46%	–
RTX	New	Raytheon Technologies	$1,751,000	–	20,530	–	0.43%	–
VEA	New	Vanguard FTSE Devel. Mkts. ETF	$1,728,000	–	33,542	–	0.43%	–
T	New	AT&T Inc.	$1,700,000	–	59,056	–	0.42%	–
VWO	New	Vangurad FTSE Emerg. Mkts. ETF	$1,611,000	–	29,663	–	0.40%	–
VGT	New	Vanguard Info. Technology ETF	$1,595,000	–	4,000	–	0.39%	–
CVX	New	Chevron Corp.	$1,500,000	–	14,319	–	0.37%	–
WFC	New	Wells Fargo & Co.	$1,410,000	–	31,139	–	0.35%	–
DE	New	Deere & Co.	$1,247,000	–	3,536	–	0.31%	–
VO	New	Vanguard Mid-Cap ETF	$1,200,000	–	5,055	–	0.30%	–
QCOM	New	Qualcomm Inc.	$1,021,000	–	7,140	–	0.25%	–
ORCL	New	Oracle Corp.	$917,000	–	11,786	–	0.23%	–
INTC	New	Intel Corp.	$915,000	–	16,297	–	0.23%	–
IJR	New	S&P Core Small-Cap iShares	$775,000	–	6,861	–	0.19%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$742,000	–	7,850	–	0.18%	–
TJX	New	TJX Cos. Inc.	$737,000	–	10,932	–	0.18%	–
TGT	New	Target Corp.	$732,000	–	3,030	–	0.18%	–
GSK	New	GlaxoSmithKline PLC ADR	$707,000	–	17,761	–	0.18%	–
MCD	New	McDonald's Corp.	$498,000	–	2,158	–	0.12%	–
WMT	New	Walmart Inc.	$483,000	–	3,424	–	0.12%	–
CAT	New	Caterpillar Inc.	$381,000	–	1,750	–	0.09%	–
QQQ	New	Invesco QQQ Trust	$354,000	–	1,000	–	0.09%	–
XEL	New	XCEL Energy	$339,000	–	5,143	–	0.08%	–
MDT	New	Medtronic PLC F	$318,000	–	2,563	–	0.08%	–
GLW	New	Corning Inc.	$270,000	–	6,603	–	0.07%	–
RDSA	New	Royal Dutch Shell Cl. A	$270,000	–	6,675	–	0.07%	–
OTIS	New	Otis Worldwide	$248,000	–	3,034	–	0.06%	–
JPM	New	JPMorgan Chase	$243,000	–	1,561	–	0.06%	–
COST	New	Costco Wholesale	$222,000	–	560	–	0.06%	–

Q4 2020

			Value		Shares		↓ Weighting
GE	Exit	General Electric Co.	$0	–	-24,365	–	-0.05%	–
GLW	Exit	Corning Inc.	$0	–	-6,603	–	-0.07%	–
BEN	Exit	Franklin Resources	$0	–	-11,296	–	-0.07%	–
CAT	Exit	Caterpillar Inc.	$0	–	-1,550	–	-0.07%	–
MDT	Exit	Medtronic PLC F	$0	–	-2,563	–	-0.08%	–
QQQ	Exit	Invesco QQQ Trust	$0	–	-1,070	–	-0.09%	–
	Exit	XCEL Energy	$0	–	-5,943	–	-0.13%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,396	–	-0.13%	–
IJR	Exit	S&P Core Small-Cap iShares	$0	–	-6,181	–	-0.14%	–
MCD	Exit	McDonald's Corp.	$0	–	-2,063	–	-0.14%	–
TGT	Exit	Target Corp.	$0	–	-2,930	–	-0.14%	–
WMT	Exit	Walmart Inc.	$0	–	-3,469	–	-0.15%	–
TJX	Exit	TJX Cos. Inc.	$0	–	-10,932	–	-0.19%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-17,761	–	-0.21%	–
ORCL	Exit	Oracle Corp.	$0	–	-11,786	–	-0.22%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-9,350	–	-0.22%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-7,140	–	-0.26%	–
INTC	Exit	Intel Corp.	$0	–	-16,597	–	-0.27%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-39,613	–	-0.29%	–
CVX	Exit	Chevron Corp.	$0	–	-14,189	–	-0.32%	–
DE	Exit	Deere & Co.	$0	–	-4,671	–	-0.32%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-6,555	–	-0.36%	–
CARR	Exit	Carrier Global	$0	–	-38,028	–	-0.36%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-28,868	–	-0.39%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-32,446	–	-0.41%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-39,882	–	-0.42%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-5,000	–	-0.48%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-43,123	–	-0.59%	–
OTIS	Exit	Otis Worldwide	$0	–	-30,987	–	-0.60%	–
SPY	Exit	SPDR S&P 500	$0	–	-5,863	–	-0.61%	–
T	Exit	AT&T Inc.	$0	–	-98,113	–	-0.87%	–
RTX	Exit	Raytheon Technologies	$0	–	-52,823	–	-0.94%	–
MRK	Exit	Merck & Co.	$0	–	-38,050	–	-0.98%	–
CSCO	Exit	Cisco Systems Inc.	$0	–	-88,335	–	-1.08%	–
ZBH	Exit	Zimmer Biomet	$0	–	-35,720	–	-1.51%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-83,463	–	-1.65%	–
EMR	Exit	Emerson Electric Co.	$0	–	-84,288	–	-1.72%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-31,834	–	-1.83%	–
FTV	Exit	Fortive Corp.	$0	–	-78,144	–	-1.85%	–
MKC	Exit	McCormick & Co.	$0	–	-30,754	–	-1.85%	–
IWM	Exit	Russell 2000 iShares	$0	–	-44,976	–	-2.09%	–
SBUX	Exit	Starbucks Corp.	$0	–	-84,240	–	-2.25%	–
DEO	Exit	Diageo plc ADR	$0	–	-53,799	–	-2.30%	–
MMM	Exit	3M Company	$0	–	-46,257	–	-2.30%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-99,740	–	-2.39%	–
V	Exit	Visa Inc.	$0	–	-38,570	–	-2.39%	–
KO	Exit	Coca-Cola Co.	$0	–	-165,956	–	-2.54%	–
ADP	Exit	Automatic Data Proc.	$0	–	-59,030	–	-2.56%	–
DIS	Exit	Walt Disney Co.	$0	–	-66,497	–	-2.56%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-6,096	–	-2.78%	–
FDX	Exit	FedEx Corp.	$0	–	-37,132	–	-2.90%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-78,720	–	-2.91%	–
PG	Exit	Procter & Gamble Co.	$0	–	-72,739	–	-3.14%	–
SYK	Exit	Stryker Corp.	$0	–	-48,589	–	-3.14%	–
BDX	Exit	Becton Dickinson	$0	–	-44,557	–	-3.22%	–
ITW	Exit	Illinois Tool Works	$0	–	-54,016	–	-3.24%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-75,324	–	-3.24%	–
JNJ	Exit	Johnson & Johnson	$0	–	-71,716	–	-3.31%	–
BRKB	Exit	Berkshire Hathaway Cl. B	$0	–	-52,277	–	-3.45%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-95,248	–	-3.71%	–
ABT	Exit	Abbott Laboratories	$0	–	-119,134	–	-4.02%	–
DHR	Exit	Danaher Corp.	$0	–	-74,974	–	-5.01%	–
MSFT	Exit	Microsoft Corp.	$0	–	-84,308	–	-5.50%	–
AAPL	Exit	Apple Inc.	$0	–	-195,026	–	-7.01%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Inc.	$22,586,000	+25.9%	195,026	+296.6%	7.01%	+13.2%
MSFT	Buy	Microsoft Corp.	$17,733,000	+3.7%	84,308	+0.3%	5.50%	-6.8%
DHR	Sell	Danaher Corp.	$16,144,000	+21.4%	74,974	-0.3%	5.01%	+9.2%
ABT	Buy	Abbott Laboratories	$12,965,000	+19.4%	119,134	+0.3%	4.02%	+7.3%
NKE	Buy	Nike, Inc. Cl. B	$11,957,000	+28.2%	95,248	+0.1%	3.71%	+15.3%
BRKB	Buy	Berkshire Hathaway Cl. B	$11,132,000	+20.9%	52,277	+1.4%	3.45%	+8.7%
JNJ	Buy	Johnson & Johnson	$10,677,000	+7.2%	71,716	+1.3%	3.31%	-3.6%
PEP	Buy	PepsiCo, Inc.	$10,440,000	+7.2%	75,324	+2.3%	3.24%	-3.6%
ITW	Buy	Illinois Tool Works	$10,436,000	+11.0%	54,016	+0.5%	3.24%	-0.2%
BDX	Buy	Becton Dickinson	$10,368,000	-1.2%	44,557	+1.5%	3.22%	-11.2%
SYK	Buy	Stryker Corp.	$10,124,000	+16.7%	48,589	+0.9%	3.14%	+4.9%
PG	Buy	Procter & Gamble Co.	$10,110,000	+17.1%	72,739	+0.7%	3.14%	+5.3%
NSRGY	Buy	Nestle S.A. ADR	$9,388,000	+8.7%	78,720	+0.7%	2.91%	-2.2%
FDX	Sell	FedEx Corp.	$9,339,000	+78.9%	37,132	-0.2%	2.90%	+60.9%
GOOG	Buy	Alphabet Inc. Cl. C	$8,959,000	+5.5%	6,096	+1.4%	2.78%	-5.2%
DIS	Buy	Walt Disney Co.	$8,251,000	+12.6%	66,497	+1.2%	2.56%	+1.2%
ADP	Buy	Automatic Data Proc.	$8,234,000	-4.9%	59,030	+1.5%	2.56%	-14.5%
KO	Buy	Coca-Cola Co.	$8,193,000	+12.2%	165,956	+1.5%	2.54%	+0.8%
V	Buy	Visa Inc.	$7,713,000	+5.0%	38,570	+1.4%	2.39%	-5.6%
CL	Buy	Colgate-Palmolive Co.	$7,695,000	+6.7%	99,740	+1.3%	2.39%	-4.1%
MMM	Buy	3M Company	$7,409,000	+3.6%	46,257	+0.9%	2.30%	-6.9%
DEO	Buy	Diageo plc ADR	$7,406,000	+3.7%	53,799	+1.2%	2.30%	-6.8%
SBUX	Buy	Starbucks Corp.	$7,238,000	+19.0%	84,240	+1.9%	2.25%	+7.0%
IWM	Sell	Russell 2000 iShares	$6,737,000	+4.5%	44,976	-0.1%	2.09%	-6.0%
MKC	Buy	McCormick & Co.	$5,969,000	+9.5%	30,754	+1.2%	1.85%	-1.5%
FTV	Buy	Fortive Corp.	$5,955,000	+14.3%	78,144	+1.5%	1.85%	+2.8%
IJH	Buy	S&P Core Mid-Cap iShares	$5,899,000	+5.8%	31,834	+1.5%	1.83%	-4.9%
EMR	Buy	Emerson Electric Co.	$5,527,000	+6.8%	84,288	+1.0%	1.72%	-4.0%
EFA	Buy	MSCI EAFE iShares	$5,312,000	+5.6%	83,463	+1.0%	1.65%	-5.1%
ZBH	Buy	Zimmer Biomet	$4,863,000	+15.1%	35,720	+0.9%	1.51%	+3.5%
CSCO	Buy	Cisco Systems Inc.	$3,480,000	-13.7%	88,335	+2.1%	1.08%	-22.4%
MRK	Buy	Merck & Co.	$3,156,000	+13.2%	38,050	+5.5%	0.98%	+1.8%
RTX	Sell	Raytheon Technologies	$3,039,000	-21.5%	52,823	-15.9%	0.94%	-29.5%
T	Sell	AT&T Inc.	$2,797,000	-8.2%	98,113	-2.7%	0.87%	-17.5%
SPY	Sell	SPDR S&P 500	$1,963,000	+4.3%	5,863	-3.9%	0.61%	-6.2%
OTIS	Sell	Otis Worldwide	$1,934,000	+9.4%	30,987	-0.3%	0.60%	-1.6%
EEM	Buy	MSCI Emerging Markets iShares	$1,901,000	+11.8%	43,123	+1.4%	0.59%	+0.5%
XOM	Sell	Exxon Mobil Corp.	$1,369,000	-37.3%	39,882	-18.3%	0.42%	-43.6%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$1,327,000	+11.2%	32,446	+5.5%	0.41%	0.0%
VWO	Buy	Vanguard FTSE Emerg. Mkts. ETF	$1,248,000	+12.2%	28,868	+2.9%	0.39%	+0.8%
CARR	Buy	Carrier Global	$1,161,000	+38.0%	38,028	+0.5%	0.36%	+24.1%
CVX	Buy	Chevron Corp.	$1,022,000	+10.1%	14,189	+36.4%	0.32%	-0.9%
WFC	Sell	Wells Fargo & Co.	$931,000	-21.0%	39,613	-14.0%	0.29%	-29.0%
INTC	Sell	Intel Corp.	$859,000	-31.9%	16,597	-21.3%	0.27%	-38.8%
AAXJ	Sell	MSCI Asia ex-Japan iShares	$722,000	+7.1%	9,350	-4.1%	0.22%	-3.9%
MCD	Sell	McDonald's Corp.	$453,000	+18.9%	2,063	-0.2%	0.14%	+7.6%
IJR	Buy	S&P Core Small-Cap iShares	$434,000	+17.3%	6,181	+14.1%	0.14%	+5.5%
CAT	New	Caterpillar Inc.	$231,000	–	1,550	–	0.07%	–
GLW	New	Corning Inc.	$214,000	–	6,603	–	0.07%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc.	$17,940,000	–	49,179	–	6.19%	–
MSFT	New	Microsoft Corp.	$17,100,000	–	84,024	–	5.90%	–
DHR	New	Danaher Corp.	$13,293,000	–	75,173	–	4.59%	–
ABT	New	Abbott Laboratories	$10,860,000	–	118,779	–	3.75%	–
BDX	New	Becton Dickinson	$10,499,000	–	43,879	–	3.62%	–
JNJ	New	Johnson & Johnson	$9,958,000	–	70,811	–	3.44%	–
PEP	New	PepsiCo, Inc.	$9,735,000	–	73,607	–	3.36%	–
ITW	New	Illinois Tool Works	$9,400,000	–	53,761	–	3.24%	–
NKE	New	Nike, Inc. Cl. B	$9,329,000	–	95,150	–	3.22%	–
BRKB	New	Berkshire Hathaway Cl. B	$9,206,000	–	51,570	–	3.18%	–
SYK	New	Stryker Corp.	$8,673,000	–	48,132	–	2.99%	–
ADP	New	Automatic Data Proc.	$8,656,000	–	58,140	–	2.99%	–
PG	New	Procter & Gamble Co.	$8,634,000	–	72,212	–	2.98%	–
NSRGY	New	Nestle S.A. ADR	$8,633,000	–	78,165	–	2.98%	–
GOOG	New	Alphabet Inc. Cl. C	$8,494,000	–	6,009	–	2.93%	–
V	New	Visa Inc.	$7,346,000	–	38,027	–	2.54%	–
DIS	New	Walt Disney Co.	$7,330,000	–	65,732	–	2.53%	–
KO	New	Coca-Cola Co.	$7,304,000	–	163,466	–	2.52%	–
CL	New	Colgate-Palmolive Co.	$7,215,000	–	98,490	–	2.49%	–
MMM	New	3M Company	$7,153,000	–	45,858	–	2.47%	–
DEO	New	Diageo plc ADR	$7,143,000	–	53,154	–	2.46%	–
IWM	New	Russell 2000 iShares	$6,445,000	–	45,011	–	2.22%	–
SBUX	New	Starbucks Corp.	$6,084,000	–	82,675	–	2.10%	–
IJH	New	S&P Core Mid-Cap iShares	$5,577,000	–	31,364	–	1.92%	–
MKC	New	McCormick & Co.	$5,452,000	–	30,387	–	1.88%	–
FDX	New	FedEx Corp.	$5,220,000	–	37,224	–	1.80%	–
FTV	New	Fortive Corp.	$5,209,000	–	76,994	–	1.80%	–
EMR	New	Emerson Electric Co.	$5,174,000	–	83,418	–	1.79%	–
EFA	New	MSCI EAFE iShares	$5,030,000	–	82,633	–	1.74%	–
ZBH	New	Zimmer Biomet	$4,224,000	–	35,385	–	1.46%	–
CSCO	New	Cisco Systems Inc.	$4,033,000	–	86,480	–	1.39%	–
RTX	New	Raytheon Technologies	$3,873,000	–	62,847	–	1.34%	–
T	New	AT&T Inc.	$3,048,000	–	100,843	–	1.05%	–
MRK	New	Merck & Co.	$2,789,000	–	36,060	–	0.96%	–
XOM	New	Exxon Mobil Corp.	$2,184,000	–	48,837	–	0.75%	–
SPY	New	SPDR S&P 500	$1,882,000	–	6,103	–	0.65%	–
OTIS	New	Otis Worldwide	$1,768,000	–	31,086	–	0.61%	–
EEM	New	MSCI Emerging Markets iShares	$1,701,000	–	42,533	–	0.59%	–
VGT	New	Vanguard Info. Technology ETF	$1,394,000	–	5,000	–	0.48%	–
INTC	New	Intel Corp.	$1,262,000	–	21,097	–	0.44%	–
VEA	New	Vanguard FTSE Devel. Mkts. ETF	$1,193,000	–	30,746	–	0.41%	–
WFC	New	Wells Fargo & Co.	$1,179,000	–	46,063	–	0.41%	–
VWO	New	Vamguard FTSE Emerg. Mkts. ETF	$1,112,000	–	28,063	–	0.38%	–
VO	New	Vanguard Mid-Cap ETF	$1,074,000	–	6,555	–	0.37%	–
CVX	New	Chevron Corp.	$928,000	–	10,399	–	0.32%	–
CARR	New	Carrier Global	$841,000	–	37,827	–	0.29%	–
DE	New	Deere & Co.	$734,000	–	4,671	–	0.25%	–
GSK	New	GlaxoSmithKline PLC ADR	$724,000	–	17,761	–	0.25%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$674,000	–	9,750	–	0.23%	–
QCOM	New	Qualcomm Inc.	$651,000	–	7,140	–	0.22%	–
ORCL	New	Oracle Corp.	$651,000	–	11,786	–	0.22%	–
TJX	New	TJX Cos. Inc.	$553,000	–	10,932	–	0.19%	–
WMT	New	Walmart Inc.	$416,000	–	3,469	–	0.14%	–
JPM	New	JPMorgan Chase	$413,000	–	4,396	–	0.14%	–
MCD	New	McDonald's Corp.	$381,000	–	2,068	–	0.13%	–
	New	XCEL Energy	$371,000	–	5,943	–	0.13%	–
IJR	New	S&P Core Small-Cap iShares	$370,000	–	5,419	–	0.13%	–
TGT	New	Target Corp.	$351,000	–	2,930	–	0.12%	–
QQQ	New	Invesco QQQ Trust	$265,000	–	1,070	–	0.09%	–
BEN	New	Franklin Resources	$237,000	–	11,296	–	0.08%	–
MDT	New	Medtronic PLC F	$235,000	–	2,563	–	0.08%	–
GE	New	General Electric Co.	$166,000	–	24,365	–	0.06%	–

Q4 2019

			Value		Shares		↓ Weighting
MDT	Exit	Medtronic PLC F	$0	–	-1,888	–	-0.07%	–
TGT	Exit	Target Corp.	$0	–	-2,991	–	-0.11%	–
IJR	Exit	S&P Core Small-Cap iShares	$0	–	-4,196	–	-0.11%	–
BEN	Exit	Franklin Resources	$0	–	-11,296	–	-0.11%	–
GE	Exit	General Electric Co.	$0	–	-42,140	–	-0.13%	–
QQQ	Exit	Invesco QQQ Trust	$0	–	-2,020	–	-0.13%	–
	Exit	XCEL Energy	$0	–	-5,943	–	-0.13%	–
MCD	Exit	McDonald's Corp.	$0	–	-2,093	–	-0.16%	–
CCL	Exit	Carnival Corp.	$0	–	-11,665	–	-0.18%	–
WMT	Exit	Walmart Inc.	$0	–	-4,316	–	-0.18%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,432	–	-0.18%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-7,140	–	-0.19%	–
TJX	Exit	TJX Cos. Inc.	$0	–	-10,932	–	-0.21%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-9,700	–	-0.22%	–
ORCL	Exit	Oracle Corp.	$0	–	-13,401	–	-0.26%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-17,761	–	-0.26%	–
DE	Exit	Deere & Co.	$0	–	-4,671	–	-0.27%	–
CVX	Exit	Chevron Corp.	$0	–	-7,509	–	-0.31%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts ETF	$0	–	-24,543	–	-0.34%	–
VEA	Exit	Vanguard FTSE Devel. Mkts ETF	$0	–	-25,172	–	-0.36%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-6,555	–	-0.38%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,000	–	-0.45%	–
INTC	Exit	Intel Corp.	$0	–	-27,851	–	-0.50%	–
SPY	Exit	SPDR S&P 500	$0	–	-6,536	–	-0.67%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-50,759	–	-0.72%	–
T	Exit	AT&T Inc.	$0	–	-101,593	–	-1.33%	–
MKC	Exit	McCormick & Co.	$0	–	-30,385	–	-1.64%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-68,092	–	-1.67%	–
ZBH	Exit	Zimmer Biomet	$0	–	-36,165	–	-1.72%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-104,609	–	-1.83%	–
FTV	Exit	Fortive Corp.	$0	–	-79,271	–	-1.88%	–
FDX	Exit	FedEx Corp.	$0	–	-38,548	–	-1.94%	–
EMR	Exit	Emerson Electric Co.	$0	–	-84,178	–	-1.95%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-92,607	–	-2.09%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-33,158	–	-2.22%	–
V	Exit	Visa Inc.	$0	–	-37,450	–	-2.23%	–
SBUX	Exit	Starbucks Corp.	$0	–	-76,265	–	-2.34%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-93,480	–	-2.38%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-5,795	–	-2.45%	–
MMM	Exit	3M Company	$0	–	-44,350	–	-2.53%	–
IWM	Exit	Russell 2000 iShares	$0	–	-48,499	–	-2.54%	–
DIS	Exit	Walt Disney Co.	$0	–	-64,527	–	-2.91%	–
DEO	Exit	Diageo plc ADR	$0	–	-51,948	–	-2.94%	–
UTX	Exit	United Technologies	$0	–	-62,671	–	-2.96%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-79,466	–	-2.98%	–
KO	Exit	Coca-Cola Co.	$0	–	-160,702	–	-3.03%	–
ITW	Exit	Illinois Tool Works	$0	–	-56,160	–	-3.04%	–
ADP	Exit	Automatic Data Proc.	$0	–	-54,740	–	-3.06%	–
PG	Exit	Procter & Gamble Co.	$0	–	-72,257	–	-3.11%	–
JNJ	Exit	Johnson & Johnson	$0	–	-70,800	–	-3.17%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-97,712	–	-3.18%	–
SYK	Exit	Stryker Corp.	$0	–	-45,557	–	-3.41%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-71,992	–	-3.42%	–
ABT	Exit	Abbott Laboratories	$0	–	-123,757	–	-3.59%	–
BRKB	Exit	Berkshire Hathaway Cl. B	$0	–	-50,460	–	-3.64%	–
BDX	Exit	Becton Dickinson	$0	–	-44,122	–	-3.87%	–
DHR	Exit	Danaher Corp.	$0	–	-79,786	–	-3.99%	–
AAPL	Exit	Apple Inc.	$0	–	-52,015	–	-4.04%	–
MSFT	Exit	Microsoft Corp.	$0	–	-88,578	–	-4.27%	–

Q3 2019

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft Corp.	$12,315,000	+3.2%	88,578	-0.5%	4.27%	+0.2%
AAPL	Buy	Apple Inc.	$11,650,000	+13.6%	52,015	+0.4%	4.04%	+10.3%
DHR	Sell	Danaher Corp.	$11,523,000	+0.1%	79,786	-0.9%	3.99%	-2.8%
BDX	Buy	Becton Dickinson	$11,161,000	+3.0%	44,122	+2.6%	3.87%	-0.1%
BRKB	Buy	Berkshire Hathaway Cl. B	$10,497,000	+0.1%	50,460	+2.5%	3.64%	-2.9%
ABT	Sell	Abbott Laboratories	$10,355,000	-2.0%	123,757	-1.5%	3.59%	-4.8%
PEP	Buy	PepsiCo, Inc.	$9,870,000	+6.7%	71,992	+2.1%	3.42%	+3.6%
SYK	Sell	Stryker Corp.	$9,854,000	+4.8%	45,557	-0.4%	3.41%	+1.8%
NKE	Sell	Nike, Inc. Cl. B	$9,177,000	+10.7%	97,712	-1.0%	3.18%	+7.5%
JNJ	Buy	Johnson & Johnson	$9,160,000	-3.8%	70,800	+3.5%	3.17%	-6.6%
PG	Buy	Procter & Gamble Co.	$8,987,000	+14.1%	72,257	+0.6%	3.11%	+10.7%
ADP	Buy	Automatic Data Proc.	$8,836,000	+0.7%	54,740	+3.1%	3.06%	-2.3%
ITW	Sell	Illinois Tool Works	$8,788,000	+2.7%	56,160	-1.0%	3.04%	-0.3%
KO	Buy	Coca-Cola Co.	$8,749,000	+8.6%	160,702	+1.6%	3.03%	+5.4%
NSRGY	Sell	Nestle S.A. ADR	$8,614,000	+4.4%	79,466	-0.4%	2.98%	+1.3%
UTX	Buy	United Technologies	$8,556,000	+8.0%	62,671	+3.0%	2.96%	+4.8%
DEO	Buy	Diageo plc ADR	$8,495,000	-4.2%	51,948	+0.9%	2.94%	-7.0%
DIS	Buy	Walt Disney Co.	$8,409,000	-4.2%	64,527	+2.6%	2.91%	-7.1%
IWM	Buy	Russell 2000 iShares	$7,340,000	-2.7%	48,499	+0.0%	2.54%	-5.5%
MMM	Buy	3M Company	$7,291,000	+0.1%	44,350	+5.5%	2.53%	-2.8%
GOOG	Buy	Alphabet Inc. Cl. C	$7,064,000	+16.1%	5,795	+2.9%	2.45%	+12.7%
CL	Buy	Colgate-Palmolive Co.	$6,872,000	+3.7%	93,480	+1.1%	2.38%	+0.6%
SBUX	Sell	Starbucks Corp.	$6,743,000	+5.0%	76,265	-0.4%	2.34%	+1.9%
V	Buy	Visa Inc.	$6,442,000	-0.4%	37,450	+0.5%	2.23%	-3.3%
IJH	Buy	S&P Core Mid-Cap iShares	$6,407,000	+0.2%	33,158	+0.7%	2.22%	-2.8%
EFA	Sell	MSCI EAFE iShares	$6,039,000	-1.5%	92,607	-0.7%	2.09%	-4.3%
EMR	Buy	Emerson Electric Co.	$5,628,000	+6.1%	84,178	+5.9%	1.95%	+3.1%
FDX	Buy	FedEx Corp.	$5,611,000	-7.9%	38,548	+3.9%	1.94%	-10.6%
FTV	Buy	Fortive Corp.	$5,435,000	-13.5%	79,271	+2.8%	1.88%	-16.0%
WFC	Buy	Wells Fargo & Co.	$5,276,000	+7.8%	104,609	+1.1%	1.83%	+4.6%
ZBH	Buy	Zimmer Biomet	$4,964,000	+16.9%	36,165	+0.3%	1.72%	+13.5%
XOM	Buy	Exxon Mobil Corp.	$4,808,000	-4.7%	68,092	+3.4%	1.67%	-7.5%
MKC	Buy	McCormick & Co.	$4,749,000	+1.0%	30,385	+0.1%	1.64%	-2.0%
T	Buy	AT&T Inc.	$3,844,000	+15.4%	101,593	+2.2%	1.33%	+12.1%
EEM	Sell	MSCI Emerging Markets iShares	$2,075,000	-5.0%	50,759	-0.3%	0.72%	-7.8%
SPY	Buy	SPDR S&P 500	$1,940,000	+6.9%	6,536	+5.6%	0.67%	+3.9%
VEA	Buy	Vanguard FTSE Devel. Mkts ETF	$1,034,000	+10.4%	25,172	+12.1%	0.36%	+7.2%
VWO	Buy	Vanguard FTSE Emerg. Mkts ETF	$988,000	-3.8%	24,543	+1.6%	0.34%	-6.8%
CVX	Buy	Chevron Corp.	$891,000	-4.6%	7,509	+0.1%	0.31%	-7.2%
ORCL	Buy	Oracle Corp.	$737,000	-0.9%	13,401	+2.7%	0.26%	-4.1%
AAXJ	Sell	MSCI Asia ex-Japan iShares	$643,000	-5.7%	9,700	-0.8%	0.22%	-8.2%
QCOM	Buy	Qualcomm Inc.	$545,000	+2.6%	7,140	+2.3%	0.19%	-0.5%
JPM	Buy	JPMorgan Chase	$522,000	+9.0%	4,432	+3.5%	0.18%	+5.8%
WMT	Sell	Walmart Inc.	$512,000	+6.4%	4,316	-0.9%	0.18%	+2.9%
MCD	Buy	McDonald's Corp.	$449,000	+4.7%	2,093	+1.2%	0.16%	+2.0%
	New	XCEL Energy	$386,000	–	5,943	–	0.13%	–
GE	Buy	General Electric Co.	$377,000	-14.7%	42,140	+0.1%	0.13%	-17.1%
IJR	New	S&P Core Small-Cap iShares	$327,000	–	4,196	–	0.11%	–
TGT	Buy	Target Corp.	$320,000	+28.0%	2,991	+3.4%	0.11%	+24.7%
MDT	New	Medtronic PLC F	$205,000	–	1,888	–	0.07%	–
CAT	Exit	Caterpillar Inc.	$0	–	-1,550	–	-0.08%	–

Q2 2019

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$11,929,000	–	89,048	–	4.26%	–
DHR	New	Danaher Corp.	$11,512,000	–	80,550	–	4.11%	–
BDX	New	Becton Dickinson	$10,837,000	–	43,002	–	3.87%	–
ABT	New	Abbott Laboratories	$10,561,000	–	125,579	–	3.77%	–
BRKB	New	Berkshire Hathaway Cl. B	$10,491,000	–	49,215	–	3.74%	–
AAPL	New	Apple Inc.	$10,255,000	–	51,814	–	3.66%	–
JNJ	New	Johnson & Johnson	$9,524,000	–	68,378	–	3.40%	–
SYK	New	Stryker Corp.	$9,401,000	–	45,727	–	3.36%	–
PEP	New	PepsiCo, Inc.	$9,249,000	–	70,534	–	3.30%	–
DEO	New	Diageo plc ADR	$8,869,000	–	51,468	–	3.16%	–
DIS	New	Walt Disney Co.	$8,781,000	–	62,884	–	3.13%	–
ADP	New	Automatic Data Proc.	$8,777,000	–	53,090	–	3.13%	–
ITW	New	Illinois Tool Works	$8,556,000	–	56,735	–	3.05%	–
NKE	New	Nike, Inc. Cl. B	$8,287,000	–	98,710	–	2.96%	–
NSRGY	New	Nestle S.A. ADR	$8,252,000	–	79,802	–	2.94%	–
KO	New	Coca-Cola Co.	$8,058,000	–	158,247	–	2.88%	–
UTX	New	United Technologies	$7,921,000	–	60,840	–	2.83%	–
PG	New	Procter & Gamble Co.	$7,877,000	–	71,837	–	2.81%	–
IWM	New	Russell 2000 iShares	$7,541,000	–	48,492	–	2.69%	–
MMM	New	3M Company	$7,284,000	–	42,021	–	2.60%	–
CL	New	Colgate-Palmolive Co.	$6,629,000	–	92,500	–	2.37%	–
V	New	Visa Inc.	$6,468,000	–	37,267	–	2.31%	–
SBUX	New	Starbucks Corp.	$6,421,000	–	76,595	–	2.29%	–
IJH	New	S&P Core Mid-Cap iShares	$6,397,000	–	32,932	–	2.28%	–
FTV	New	Fortive Corp.	$6,284,000	–	77,081	–	2.24%	–
EFA	New	MSCI EAFE iShares	$6,129,000	–	93,249	–	2.19%	–
FDX	New	FedEx Corp.	$6,094,000	–	37,117	–	2.18%	–
GOOG	New	Alphabet Inc. Cl. C	$6,084,000	–	5,629	–	2.17%	–
EMR	New	Emerson Electric Co.	$5,302,000	–	79,471	–	1.89%	–
XOM	New	Exxon Mobil Corp.	$5,046,000	–	65,853	–	1.80%	–
WFC	New	Wells Fargo & Co.	$4,895,000	–	103,445	–	1.75%	–
MKC	New	McCormick & Co.	$4,704,000	–	30,347	–	1.68%	–
ZBH	New	Zimmer Biomet	$4,245,000	–	36,055	–	1.52%	–
T	New	AT&T Inc.	$3,330,000	–	99,373	–	1.19%	–
EEM	New	MSCI Emerging Markets iShares	$2,185,000	–	50,914	–	0.78%	–
SPY	New	SPDR S&P 500	$1,814,000	–	6,191	–	0.65%	–
INTC	New	Intel Corp.	$1,333,000	–	27,851	–	0.48%	–
VGT	New	Vanguard Info. Technology ETF	$1,265,000	–	6,000	–	0.45%	–
VO	New	Vanguard Mid-Cap ETF	$1,096,000	–	6,555	–	0.39%	–
VWO	New	Vanguard FTSE Emerg. Mkts. ETF	$1,027,000	–	24,145	–	0.37%	–
VEA	New	Vanguard FTSE Devel. Mkts. ETF	$937,000	–	22,457	–	0.33%	–
CVX	New	Chevron Corp.	$934,000	–	7,505	–	0.33%	–
DE	New	Deere & Co.	$774,000	–	4,671	–	0.28%	–
ORCL	New	Oracle Corp.	$744,000	–	13,051	–	0.27%	–
GSK	New	GlaxoSmithKline PLC ADR	$711,000	–	17,761	–	0.25%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$682,000	–	9,775	–	0.24%	–
TJX	New	TJX Cos. Inc.	$578,000	–	10,932	–	0.21%	–
CCL	New	Carnival Corp.	$543,000	–	11,665	–	0.19%	–
QCOM	New	Qualcomm Inc.	$531,000	–	6,977	–	0.19%	–
WMT	New	Walmart Inc.	$481,000	–	4,356	–	0.17%	–
JPM	New	JPMorgan Chase	$479,000	–	4,282	–	0.17%	–
GE	New	General Electric Co.	$442,000	–	42,080	–	0.16%	–
MCD	New	McDonald's Corp.	$429,000	–	2,068	–	0.15%	–
BEN	New	Franklin Resources	$393,000	–	11,296	–	0.14%	–
QQQ	New	Invesco QQQ Trust	$377,000	–	2,020	–	0.14%	–
TGT	New	Target Corp.	$250,000	–	2,892	–	0.09%	–
CAT	New	Caterpillar Inc.	$211,000	–	1,550	–	0.08%	–

Q4 2018

			Value		Shares		↓ Weighting
APA	Exit	Apache Corp.	$0	–	-4,704	–	-0.08%	–
TGT	Exit	Target Corp.	$0	–	-2,880	–	-0.09%	–
AMZN	Exit	Amazon.com	$0	–	-130	–	-0.10%	–
CAT	Exit	Caterpillar Inc.	$0	–	-1,715	–	-0.10%	–
BEN	Exit	Franklin Resources	$0	–	-11,296	–	-0.12%	–
MCD	Exit	McDonald's Corp.	$0	–	-2,123	–	-0.13%	–
QQQ	Exit	Invesco QQQ Trust	$0	–	-2,020	–	-0.14%	–
WMT	Exit	Walmart Inc.	$0	–	-4,486	–	-0.15%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-6,125	–	-0.16%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,286	–	-0.18%	–
GE	Exit	General Electric Co.	$0	–	-50,235	–	-0.21%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-7,922	–	-0.21%	–
TJX	Exit	TJX Cos. Inc.	$0	–	-5,466	–	-0.22%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-17,761	–	-0.26%	–
DE	Exit	Deere & Co.	$0	–	-4,771	–	-0.26%	–
CCL	Exit	Carnival Corp.	$0	–	-11,665	–	-0.27%	–
ORCL	Exit	Oracle Corp.	$0	–	-15,961	–	-0.30%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-20,940	–	-0.33%	–
CVX	Exit	Chevron Corp.	$0	–	-7,406	–	-0.33%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-22,819	–	-0.34%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-6,555	–	-0.39%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,000	–	-0.44%	–
INTC	Exit	Intel Corp.	$0	–	-27,843	–	-0.48%	–
SPY	Exit	SPDR S&P 500	$0	–	-6,228	–	-0.66%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-52,649	–	-0.82%	–
T	Exit	AT&T Inc.	$0	–	-111,573	–	-1.37%	–
SBUX	Exit	Starbucks Corp.	$0	–	-70,715	–	-1.46%	–
MKC	Exit	McCormick & Co.	$0	–	-30,517	–	-1.47%	–
ZBH	Exit	Zimmer Biomet	$0	–	-36,310	–	-1.74%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-102,684	–	-1.97%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-64,710	–	-2.01%	–
V	Exit	Visa Inc.	$0	–	-37,392	–	-2.05%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-4,892	–	-2.13%	–
EMR	Exit	Emerson Electric Co.	$0	–	-76,206	–	-2.13%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-92,319	–	-2.25%	–
PG	Exit	Procter & Gamble Co.	$0	–	-76,532	–	-2.32%	–
FTV	Exit	Fortive Corp.	$0	–	-76,629	–	-2.35%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-95,275	–	-2.36%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-34,095	–	-2.50%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-84,062	–	-2.55%	–
KO	Exit	Coca-Cola Co.	$0	–	-159,457	–	-2.68%	–
DIS	Exit	Disney (Walt) Co.	$0	–	-62,976	–	-2.68%	–
DEO	Exit	Diageo plc ADR	$0	–	-52,816	–	-2.73%	–
ITW	Exit	Illinois Tool Works	$0	–	-57,606	–	-2.96%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-73,082	–	-2.98%	–
SYK	Exit	Stryker Corp.	$0	–	-46,394	–	-3.00%	–
ADP	Exit	Automatic Data Proc.	$0	–	-55,325	–	-3.04%	–
FDX	Exit	FedEx Corp.	$0	–	-34,799	–	-3.06%	–
UTX	Exit	United Technologies	$0	–	-60,711	–	-3.10%	–
IWM	Exit	Russell 2000 iShares	$0	–	-50,422	–	-3.10%	–
MMM	Exit	3M Company	$0	–	-41,048	–	-3.15%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-107,545	–	-3.32%	–
DHR	Exit	Danaher Corp.	$0	–	-85,156	–	-3.37%	–
JNJ	Exit	Johnson & Johnson	$0	–	-70,313	–	-3.54%	–
ABT	Exit	Abbott Laboratories	$0	–	-135,444	–	-3.62%	–
BRKB	Exit	Berkshire Hathaway Cl. B	$0	–	-50,062	–	-3.91%	–
MSFT	Exit	Microsoft Corp.	$0	–	-94,984	–	-3.96%	–
BDX	Exit	Becton Dickinson	$0	–	-43,471	–	-4.14%	–
AAPL	Exit	Apple Inc.	$0	–	-51,226	–	-4.22%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	Apple Inc.	$11,564,000	+20.8%	51,226	-1.0%	4.22%	+11.1%
BDX	Sell	Becton Dickinson	$11,346,000	+7.6%	43,471	-1.2%	4.14%	-0.9%
MSFT	Sell	Microsoft Corp.	$10,863,000	+14.1%	94,984	-1.6%	3.96%	+5.0%
BRKB	Buy	Berkshire Hathaway Cl. B	$10,719,000	+15.3%	50,062	+0.5%	3.91%	+6.1%
ABT	Sell	Abbott Laboratories	$9,936,000	+19.4%	135,444	-0.7%	3.62%	+9.9%
JNJ	Buy	Johnson & Johnson	$9,715,000	+15.0%	70,313	+1.0%	3.54%	+5.8%
DHR	Buy	Danaher Corp.	$9,253,000	+11.5%	85,156	+1.3%	3.37%	+2.6%
NKE	Sell	Nike, Inc. Cl. B	$9,111,000	+2.6%	107,545	-3.5%	3.32%	-5.5%
MMM	Buy	3M Company	$8,649,000	+10.0%	41,048	+2.7%	3.15%	+1.2%
IWM	Sell	Russell 2000 iShares	$8,499,000	+2.3%	50,422	-0.6%	3.10%	-5.8%
UTX	Buy	United Technologies	$8,488,000	+12.8%	60,711	+0.9%	3.10%	+3.8%
FDX	Buy	FedEx Corp.	$8,379,000	+8.7%	34,799	+2.5%	3.06%	+0.1%
ADP	Sell	Automatic Data Proc.	$8,335,000	+10.4%	55,325	-1.7%	3.04%	+1.5%
SYK	Buy	Stryker Corp.	$8,243,000	+6.4%	46,394	+1.1%	3.00%	-2.1%
PEP	Sell	PepsiCo, Inc.	$8,171,000	+2.4%	73,082	-0.3%	2.98%	-5.8%
ITW	Buy	Illinois Tool Works	$8,129,000	+5.5%	57,606	+3.5%	2.96%	-2.9%
DEO	Buy	Diageo plc ADR	$7,482,000	-0.6%	52,816	+1.0%	2.73%	-8.5%
DIS	Buy	Disney (Walt) Co.	$7,364,000	+13.1%	62,976	+1.4%	2.68%	+4.1%
KO	Buy	Coca-Cola Co.	$7,365,000	+7.0%	159,457	+1.6%	2.68%	-1.6%
NSRGY	Sell	Nestle S.A. ADR	$6,994,000	+7.4%	84,062	-0.1%	2.55%	-1.2%
IJH	Buy	S&P Core Mid-Cap iShares	$6,863,000	+3.7%	34,095	+0.3%	2.50%	-4.6%
EFA	Buy	MSCI EAFE iShares	$6,478,000	+2.2%	95,275	+0.7%	2.36%	-6.0%
FTV	Buy	Fortive Corp.	$6,452,000	+10.2%	76,629	+0.9%	2.35%	+1.4%
PG	Sell	Procter & Gamble Co.	$6,370,000	+5.3%	76,532	-1.2%	2.32%	-3.1%
CL	Buy	Colgate-Palmolive Co.	$6,181,000	+4.7%	92,319	+1.3%	2.25%	-3.7%
GOOG	Buy	Alphabet Inc. Cl. C	$5,838,000	+8.7%	4,892	+1.6%	2.13%	-0.0%
EMR	Sell	Emerson Electric Co.	$5,836,000	+9.8%	76,206	-0.9%	2.13%	+1.0%
V	Buy	Visa Inc.	$5,612,000	+14.7%	37,392	+1.2%	2.05%	+5.5%
XOM	Buy	Exxon Mobil Corp.	$5,502,000	+3.9%	64,710	+1.1%	2.01%	-4.4%
WFC	Sell	Wells Fargo & Co.	$5,397,000	-7.0%	102,684	-1.9%	1.97%	-14.4%
ZBH	Buy	Zimmer Biomet	$4,774,000	+19.3%	36,310	+1.1%	1.74%	+9.8%
MKC	Buy	McCormick & Co.	$4,021,000	+53.9%	30,517	+35.6%	1.47%	+41.6%
SBUX	Sell	Starbucks Corp.	$4,019,000	+7.9%	70,715	-7.3%	1.46%	-0.7%
T	Sell	AT&T Inc.	$3,747,000	+4.0%	111,573	-0.6%	1.37%	-4.3%
EEM	Buy	MSCI Emerging Markets iShares	$2,260,000	-0.3%	52,649	+0.6%	0.82%	-8.2%
SPY	Sell	SPDR S&P 500	$1,811,000	+2.3%	6,228	-4.6%	0.66%	-6.0%
INTC	Sell	Intel Corp.	$1,317,000	-5.0%	27,843	-0.1%	0.48%	-12.6%
VWO	Sell	Vanguard FTSE Emerg. Mkts. ETF	$936,000	-8.9%	22,819	-6.3%	0.34%	-16.2%
CVX	Buy	Chevron Corp.	$906,000	-1.0%	7,406	+2.3%	0.33%	-9.1%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$906,000	+4.3%	20,940	+3.3%	0.33%	-4.1%
WMT	Sell	Walmart Inc.	$421,000	+9.4%	4,486	-0.2%	0.15%	0.0%
QQQ	Sell	Invesco QQQ Trust	$375,000	+0.8%	2,020	-6.9%	0.14%	-6.8%
MCD	Buy	McDonald's Corp.	$355,000	+8.6%	2,123	+1.6%	0.13%	-0.8%
CAT	Sell	Caterpillar Inc.	$262,000	+6.5%	1,715	-5.5%	0.10%	-1.0%
TGT	Sell	Target Corp.	$254,000	+13.4%	2,880	-2.0%	0.09%	+4.5%
FB	Exit	Facebook Inc. Cl. A	$0	–	-1,445	–	-0.11%	–

Q2 2018

			Value		Shares		↓ Weighting
BDX	New	Becton Dickinson	$10,541,000	–	44,001	–	4.18%	–
AAPL	New	Apple Inc.	$9,576,000	–	51,734	–	3.79%	–
MSFT	New	Microsoft	$9,519,000	–	96,536	–	3.77%	–
BRKB	New	Berkshire Hathaway Cl. B	$9,298,000	–	49,817	–	3.68%	–
NKE	New	Nike, Inc. Cl. B	$8,876,000	–	111,390	–	3.52%	–
JNJ	New	Johnson & Johnson	$8,451,000	–	69,648	–	3.35%	–
ABT	New	Abbott Laboratories	$8,322,000	–	136,444	–	3.30%	–
IWM	New	Russell 2000 iShares	$8,304,000	–	50,707	–	3.29%	–
DHR	New	Danaher Corp.	$8,299,000	–	84,096	–	3.29%	–
PEP	New	PepsiCo, Inc.	$7,978,000	–	73,277	–	3.16%	–
MMM	New	3M Company	$7,865,000	–	39,981	–	3.12%	–
SYK	New	Stryker Corp.	$7,750,000	–	45,894	–	3.07%	–
ITW	New	Illinois Tool Works	$7,707,000	–	55,632	–	3.05%	–
FDX	New	FedEx Corp.	$7,706,000	–	33,939	–	3.05%	–
ADP	New	Automatic Data Proc.	$7,553,000	–	56,305	–	2.99%	–
DEO	New	Diageo plc ADR	$7,528,000	–	52,271	–	2.98%	–
UTX	New	United Technologies	$7,524,000	–	60,175	–	2.98%	–
KO	New	Coca-Cola Co.	$6,886,000	–	157,007	–	2.73%	–
IJH	New	S&P Core Mid-Cap iShares	$6,620,000	–	33,988	–	2.62%	–
NSRGY	New	Nestle S.A. ADR	$6,515,000	–	84,136	–	2.58%	–
DIS	New	Disney (Walt) Co.	$6,512,000	–	62,131	–	2.58%	–
EFA	New	MSCI EAFE iShares	$6,339,000	–	94,649	–	2.51%	–
PG	New	Procter & Gamble Co.	$6,048,000	–	77,477	–	2.40%	–
CL	New	Colgate-Palmolive Co.	$5,905,000	–	91,108	–	2.34%	–
FTV	New	Fortive Corp.	$5,856,000	–	75,937	–	2.32%	–
WFC	New	Wells Fargo & Co.	$5,805,000	–	104,714	–	2.30%	–
GOOG	New	Alphabet Inc. Cl. C	$5,373,000	–	4,816	–	2.13%	–
EMR	New	Emerson Electric Co.	$5,317,000	–	76,906	–	2.11%	–
XOM	New	Exxon Mobil Corp.	$5,296,000	–	64,020	–	2.10%	–
V	New	Visa Inc.	$4,893,000	–	36,942	–	1.94%	–
ZBH	New	Zimmer Biomet	$4,002,000	–	35,910	–	1.59%	–
SBUX	New	Starbucks Corp.	$3,726,000	–	76,280	–	1.48%	–
T	New	AT&T Inc.	$3,603,000	–	112,208	–	1.43%	–
MKC	New	McCormick & Co.	$2,613,000	–	22,512	–	1.04%	–
EEM	New	MSCI Emerging Markets iShares	$2,267,000	–	52,313	–	0.90%	–
SPY	New	SPDR S&P 500	$1,771,000	–	6,528	–	0.70%	–
INTC	New	Intel Corp.	$1,386,000	–	27,876	–	0.55%	–
VGT	New	Vanguard Info. Technology ETV	$1,088,000	–	6,000	–	0.43%	–
VO	New	Vanguard Mid-Cap ETF	$1,033,000	–	6,555	–	0.41%	–
VWO	New	Vanguard FTSE Emerg. Mkts ETF	$1,027,000	–	24,344	–	0.41%	–
CVX	New	Chevron Corp.	$915,000	–	7,236	–	0.36%	–
VEA	New	Vanguard FTSE Devel. Mkts ETF	$869,000	–	20,265	–	0.34%	–
GSK	New	GlaxoSmithKline PLC ADR	$716,000	–	17,761	–	0.28%	–
ORCL	New	Oracle Corp.	$703,000	–	15,961	–	0.28%	–
GE	New	General Electric Co.	$684,000	–	50,235	–	0.27%	–
CCL	New	Carnival Corp.	$669,000	–	11,665	–	0.26%	–
DE	New	Deere & Co.	$667,000	–	4,771	–	0.26%	–
TJX	New	TJX Cos. Inc.	$520,000	–	5,466	–	0.21%	–
JPM	New	JPMorgan Chase	$447,000	–	4,286	–	0.18%	–
QCOM	New	Qualcomm Inc.	$445,000	–	7,922	–	0.18%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$439,000	–	6,125	–	0.17%	–
WMT	New	Walmart Inc.	$385,000	–	4,497	–	0.15%	–
QQQ	New	Invesco QQQ Trust	$372,000	–	2,170	–	0.15%	–
BEN	New	Franklin Resources	$362,000	–	11,296	–	0.14%	–
MCD	New	McDonald's Corp.	$327,000	–	2,090	–	0.13%	–
FB	New	Facebook Inc. Cl. A	$281,000	–	1,445	–	0.11%	–
CAT	New	Caterpillar Inc.	$246,000	–	1,815	–	0.10%	–
TGT	New	Target Corp.	$224,000	–	2,940	–	0.09%	–
AMZN	New	Amazon.com	$221,000	–	130	–	0.09%	–
APA	New	Apache Corp.	$220,000	–	4,704	–	0.09%	–

Q4 2017

			Value		Shares		↓ Weighting
TGT	Exit	Target Corp.	$0	–	-3,500	–	-0.09%	–
IBM	Exit	International Business Machine	$0	–	-1,464	–	-0.09%	–
APA	Exit	Apache Corp.	$0	–	-4,704	–	-0.09%	–
PM	Exit	Philip Morris Int'l.	$0	–	-2,025	–	-0.10%	–
CERN	Exit	Cerner Corp.	$0	–	-3,250	–	-0.10%	–
CAT	Exit	Caterpillar Inc.	$0	–	-1,897	–	-0.10%	–
GIS	Exit	General Mills Inc.	$0	–	-5,380	–	-0.12%	–
MCD	Exit	McDonald's Corp.	$0	–	-2,200	–	-0.14%	–
QQQ	Exit	PowerShares QQQ	$0	–	-2,370	–	-0.14%	–
WMT	Exit	Wal-Mart Stores	$0	–	-4,447	–	-0.15%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,196	–	-0.17%	–
TJX	Exit	TJX Cos. Inc.	$0	–	-5,466	–	-0.17%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-7,922	–	-0.17%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-6,600	–	-0.20%	–
BEN	Exit	Franklin Resources	$0	–	-11,296	–	-0.21%	–
DE	Exit	Deere & Co.	$0	–	-5,261	–	-0.28%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-16,155	–	-0.30%	–
ORCL	Exit	Oracle Corp.	$0	–	-16,261	–	-0.33%	–
CCL	Exit	Carnival Corp.	$0	–	-13,100	–	-0.36%	–
CVX	Exit	Chevron Corp.	$0	–	-7,461	–	-0.37%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-22,901	–	-0.39%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-6,500	–	-0.40%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-22,125	–	-0.41%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,500	–	-0.42%	–
INTC	Exit	Intel Corp.	$0	–	-27,136	–	-0.44%	–
GE	Exit	General Electric Co.	$0	–	-70,436	–	-0.72%	–
SPY	Exit	SPDR S&P 500	$0	–	-6,910	–	-0.73%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-51,794	–	-0.98%	–
SBUX	Exit	Starbucks Corp.	$0	–	-49,055	–	-1.11%	–
V	Exit	Visa Inc.	$0	–	-35,137	–	-1.56%	–
ZBH	Exit	Zimmer Biomet	$0	–	-33,860	–	-1.67%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-4,213	–	-1.70%	–
T	Exit	AT&T Inc.	$0	–	-104,521	–	-1.72%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-60,260	–	-2.08%	–
EMR	Exit	Emerson Electric Co.	$0	–	-81,457	–	-2.16%	–
FTV	Exit	Fortive Corp.	$0	–	-76,429	–	-2.28%	–
DIS	Exit	Disney (Walt) Co.	$0	–	-60,130	–	-2.50%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-108,269	–	-2.51%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-34,342	–	-2.59%	–
ADP	Exit	Automatic Data Proc.	$0	–	-58,301	–	-2.68%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-94,826	–	-2.73%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-127,144	–	-2.78%	–
SYK	Exit	Stryker Corp.	$0	–	-47,418	–	-2.84%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-92,473	–	-2.84%	–
UTX	Exit	United Technologies	$0	–	-59,769	–	-2.92%	–
DEO	Exit	Diageo plc ADR	$0	–	-53,731	–	-2.99%	–
DHR	Exit	Danaher Corp.	$0	–	-83,833	–	-3.03%	–
KO	Exit	Coca-Cola Co.	$0	–	-162,442	–	-3.08%	–
PG	Exit	Procter & Gamble Co.	$0	–	-81,390	–	-3.12%	–
ABT	Exit	Abbott Laboratories	$0	–	-138,967	–	-3.12%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-89,251	–	-3.16%	–
FDX	Exit	FedEx Corp.	$0	–	-34,019	–	-3.23%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-69,505	–	-3.26%	–
IWM	Exit	Russell 2000 iShares	$0	–	-53,203	–	-3.32%	–
AAPL	Exit	Apple Inc.	$0	–	-52,013	–	-3.38%	–
ITW	Exit	Illinois Tool Works	$0	–	-54,996	–	-3.43%	–
MSFT	Exit	Microsoft	$0	–	-109,303	–	-3.43%	–
MMM	Exit	3M Company	$0	–	-39,864	–	-3.52%	–
BDX	Exit	Becton Dickinson	$0	–	-44,065	–	-3.64%	–
JNJ	Exit	Johnson & Johnson	$0	–	-66,676	–	-3.65%	–
BRKB	Exit	Berkshire Hathaway Cl. B	$0	–	-50,173	–	-3.87%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway Cl. B	$9,198,000	+8.5%	50,173	+0.3%	3.87%	+4.9%
JNJ	Buy	Johnson & Johnson	$8,668,000	-0.2%	66,676	+1.5%	3.65%	-3.6%
BDX	Sell	Becton Dickinson	$8,635,000	+0.3%	44,065	-0.2%	3.64%	-3.1%
MMM	Buy	3M Company	$8,367,000	+2.6%	39,864	+1.8%	3.52%	-0.8%
MSFT	Buy	Microsoft	$8,142,000	+8.2%	109,303	+0.1%	3.43%	+4.6%
ITW	Sell	Illinois Tool Works	$8,137,000	+3.2%	54,996	-0.0%	3.43%	-0.2%
AAPL	Buy	Apple Inc.	$8,016,000	+10.6%	52,013	+3.3%	3.38%	+6.9%
IWM	Sell	Russell 2000 iShares	$7,884,000	+3.3%	53,203	-1.7%	3.32%	-0.1%
PEP	Buy	PepsiCo, Inc.	$7,745,000	-2.3%	69,505	+1.3%	3.26%	-5.5%
FDX	Buy	FedEx Corp.	$7,674,000	+4.3%	34,019	+0.5%	3.23%	+0.9%
NSRGY	Buy	Nestle S.A. ADR	$7,498,000	-3.5%	89,251	+0.2%	3.16%	-6.7%
ABT	Buy	Abbott Laboratories	$7,415,000	+11.1%	138,967	+1.2%	3.12%	+7.4%
PG	Buy	Procter & Gamble Co.	$7,405,000	+6.4%	81,390	+1.9%	3.12%	+2.8%
KO	Buy	Coca-Cola Co.	$7,312,000	+1.0%	162,442	+0.7%	3.08%	-2.3%
DHR	Buy	Danaher Corp.	$7,191,000	+8.9%	83,833	+7.1%	3.03%	+5.2%
DEO	Buy	Diageo plc ADR	$7,099,000	+10.4%	53,731	+0.2%	2.99%	+6.8%
UTX	Buy	United Technologies	$6,938,000	-3.0%	59,769	+2.0%	2.92%	-6.2%
CL	Buy	Colgate-Palmolive Co.	$6,737,000	-1.0%	92,473	+0.7%	2.84%	-4.4%
SYK	Buy	Stryker Corp.	$6,734,000	+3.0%	47,418	+0.7%	2.84%	-0.4%
NKE	Sell	Nike, Inc. Cl. B	$6,592,000	-13.1%	127,144	-1.1%	2.78%	-16.0%
EFA	Buy	MSCI EAFE iShares	$6,494,000	+5.0%	94,826	+0.0%	2.73%	+1.6%
ADP	Buy	Automatic Data Proc.	$6,373,000	+7.2%	58,301	+0.5%	2.68%	+3.7%
IJH	Buy	S&P Core Mid-Cap iShares	$6,144,000	+3.8%	34,342	+0.9%	2.59%	+0.4%
WFC	Buy	Wells Fargo & Co.	$5,971,000	+2.7%	108,269	+3.2%	2.51%	-0.7%
DIS	Buy	Disney (Walt) Co.	$5,927,000	-5.8%	60,130	+1.5%	2.50%	-9.0%
FTV	Buy	Fortive Corp.	$5,410,000	+13.1%	76,429	+1.2%	2.28%	+9.4%
EMR	Buy	Emerson Electric Co.	$5,119,000	+6.1%	81,457	+0.6%	2.16%	+2.5%
XOM	Buy	Exxon Mobil Corp.	$4,940,000	+4.1%	60,260	+2.5%	2.08%	+0.7%
T	Buy	AT&T Inc.	$4,094,000	+4.5%	104,521	+0.6%	1.72%	+1.0%
GOOG	Buy	Alphabet Inc. Cl. C	$4,041,000	+9.9%	4,213	+4.1%	1.70%	+6.2%
ZBH	Buy	Zimmer Biomet	$3,965,000	-6.1%	33,860	+2.9%	1.67%	-9.2%
V	Buy	Visa Inc.	$3,698,000	+15.5%	35,137	+2.9%	1.56%	+11.6%
SBUX	Buy	Starbucks Corp.	$2,635,000	+6.0%	49,055	+15.1%	1.11%	+2.4%
EEM	Buy	MSCI Emerging Markets iShares	$2,321,000	+9.8%	51,794	+1.5%	0.98%	+6.2%
SPY	Buy	SPDR S&P 500	$1,736,000	+5.8%	6,910	+1.8%	0.73%	+2.2%
GE	Buy	General Electric Co.	$1,703,000	-5.7%	70,436	+5.4%	0.72%	-8.8%
INTC	Buy	Intel Corp.	$1,033,000	+13.9%	27,136	+0.9%	0.44%	+10.1%
VWO	Buy	Vanguard FTSE Emerg. Mkts. ETF	$964,000	+19.9%	22,125	+12.3%	0.41%	+16.0%
CVX	Buy	Chevron Corp.	$877,000	+17.6%	7,461	+4.4%	0.37%	+13.5%
ORCL	Buy	Oracle Corp.	$786,000	+0.4%	16,261	+4.2%	0.33%	-2.9%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$701,000	+30.3%	16,155	+24.0%	0.30%	+26.1%
JPM	Buy	JPMorgan Chase	$401,000	+7.8%	4,196	+3.1%	0.17%	+4.3%
WMT	Buy	Wal-Mart Stores	$347,000	+59.9%	4,447	+55.2%	0.15%	+55.3%
MCD	New	McDonald's Corp.	$345,000	–	2,200	–	0.14%	–
GIS	Buy	General Mills Inc.	$278,000	+13.5%	5,380	+21.6%	0.12%	+9.3%
CAT	New	Caterpillar Inc.	$237,000	–	1,897	–	0.10%	–
IBM	Sell	International Business Machine	$212,000	-14.5%	1,464	-9.3%	0.09%	-17.6%
TGT	New	Target Corp.	$207,000	–	3,500	–	0.09%	–
SPNC	Exit	Spectranetics	$0	–	-21,572	–	-0.36%	–

Q2 2017

			Value		Shares		↓ Weighting
JNJ	New	Johnson & Johnson	$8,689,000	–	65,683	–	3.78%	–
BDX	New	Becton Dickinson	$8,612,000	–	44,141	–	3.75%	–
BRKB	New	Berkshire Hathaway Cl. B	$8,476,000	–	50,044	–	3.69%	–
MMM	New	3M Company	$8,153,000	–	39,159	–	3.55%	–
PEP	New	PepsiCo, Inc.	$7,925,000	–	68,620	–	3.45%	–
ITW	New	Illinois Tool Works	$7,882,000	–	55,020	–	3.43%	–
NSRGY	New	Nestle S.A. ADR	$7,767,000	–	89,067	–	3.38%	–
IWM	New	Russell 2000 iShares	$7,630,000	–	54,145	–	3.32%	–
NKE	New	Nike, Inc. Cl. B	$7,584,000	–	128,545	–	3.30%	–
MSFT	New	Microsoft	$7,527,000	–	109,199	–	3.28%	–
FDX	New	FedEx Corp.	$7,356,000	–	33,846	–	3.20%	–
AAPL	New	Apple Inc.	$7,251,000	–	50,345	–	3.16%	–
KO	New	Coca-Cola Co.	$7,237,000	–	161,367	–	3.15%	–
UTX	New	United Technologies	$7,152,000	–	58,571	–	3.11%	–
PG	New	Procter & Gamble Co.	$6,961,000	–	79,876	–	3.03%	–
CL	New	Colgate-Palmolive Co.	$6,808,000	–	91,844	–	2.96%	–
ABT	New	Abbott Laboratories	$6,675,000	–	137,315	–	2.91%	–
DHR	New	Danaher Corp.	$6,606,000	–	78,275	–	2.88%	–
SYK	New	Stryker Corp.	$6,537,000	–	47,103	–	2.85%	–
DEO	New	Diageo plc ADR	$6,428,000	–	53,642	–	2.80%	–
DIS	New	Disney (Walt) Co.	$6,295,000	–	59,251	–	2.74%	–
EFA	New	MSCI EAFE iShares	$6,182,000	–	94,816	–	2.69%	–
ADP	New	Automatic Data Proc.	$5,944,000	–	58,012	–	2.59%	–
IJH	New	S&P Core Mid-Cap iShares	$5,919,000	–	34,027	–	2.58%	–
WFC	New	Wells Fargo & Co.	$5,812,000	–	104,891	–	2.53%	–
EMR	New	Emerson Electric Co.	$4,826,000	–	80,948	–	2.10%	–
FTV	New	Fortive Corp.	$4,784,000	–	75,510	–	2.08%	–
XOM	New	Exxon Mobil Corp.	$4,745,000	–	58,779	–	2.07%	–
ZBH	New	Zimmer Biomet	$4,223,000	–	32,890	–	1.84%	–
T	New	AT&T Inc.	$3,919,000	–	103,873	–	1.71%	–
GOOG	New	Alphabet Inc. Cl. C	$3,677,000	–	4,046	–	1.60%	–
V	New	Visa Inc.	$3,203,000	–	34,152	–	1.40%	–
SBUX	New	Starbucks Corp.	$2,486,000	–	42,630	–	1.08%	–
EEM	New	MSCI Emerging Markets iShares	$2,113,000	–	51,048	–	0.92%	–
GE	New	General Electric Co.	$1,805,000	–	66,825	–	0.79%	–
SPY	New	SPDR S&P 500	$1,641,000	–	6,785	–	0.72%	–
GSK	New	GlaxoSmithKline PLC ADR	$987,000	–	22,901	–	0.43%	–
VO	New	Vanguard Mid-Cap ETF	$926,000	–	6,500	–	0.40%	–
VGT	New	Vanguard Info. Technology ETF	$915,000	–	6,500	–	0.40%	–
INTC	New	Intel Corp.	$907,000	–	26,886	–	0.40%	–
CCL	New	Carnival Corp.	$859,000	–	13,100	–	0.37%	–
SPNC	New	Spectranetics	$828,000	–	21,572	–	0.36%	–
VWO	New	Vanguard FTSE Emerg. Mkts ETF	$804,000	–	19,695	–	0.35%	–
ORCL	New	Oracle Corp.	$783,000	–	15,611	–	0.34%	–
CVX	New	Chevron Corp.	$746,000	–	7,149	–	0.32%	–
DE	New	Deere & Co.	$650,000	–	5,261	–	0.28%	–
VEA	New	Vanguard FTSE Devel. Mkts ETF	$538,000	–	13,025	–	0.23%	–
BEN	New	Franklin Resources	$506,000	–	11,296	–	0.22%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$445,000	–	6,600	–	0.19%	–
QCOM	New	Qualcomm Inc.	$437,000	–	7,922	–	0.19%	–
TJX	New	TJX Cos. Inc.	$394,000	–	5,466	–	0.17%	–
JPM	New	JPMorgan Chase	$372,000	–	4,070	–	0.16%	–
QQQ	New	PowerShares QQQ	$326,000	–	2,370	–	0.14%	–
IBM	New	International Business Machine	$248,000	–	1,614	–	0.11%	–
GIS	New	General Mills Inc.	$245,000	–	4,425	–	0.11%	–
PM	New	Philip Morris Int'l.	$238,000	–	2,025	–	0.10%	–
APA	New	Apache Corp.	$225,000	–	4,704	–	0.10%	–
CERN	New	Cerner Corp.	$216,000	–	3,250	–	0.09%	–
WMT	New	Wal-Mart Stores	$217,000	–	2,865	–	0.09%	–

Q4 2016

			Value		Shares		↓ Weighting
CAT	Exit	Caterpillar Inc.	$0	–	-2,290	–	-0.10%	–
SJM	Exit	J.M. Smucker Co.	$0	–	-1,500	–	-0.10%	–
CERN	Exit	Cerner Corp.	$0	–	-3,500	–	-0.10%	–
PM	Exit	Philip Morris Int'l.	$0	–	-2,525	–	-0.12%	–
TGT	Exit	Target Corp.	$0	–	-3,685	–	-0.12%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,465	–	-0.14%	–
APA	Exit	Apache Corp.	$0	–	-4,704	–	-0.14%	–
GIS	Exit	General Mills Inc.	$0	–	-5,225	–	-0.16%	–
IBM	Exit	International Business Machine	$0	–	-2,239	–	-0.17%	–
TJX	Exit	T J X Cos. Inc.	$0	–	-5,466	–	-0.20%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-7,150	–	-0.21%	–
DE	Exit	Deere & Co.	$0	–	-5,261	–	-0.22%	–
QQQ	Exit	PowerShares QQQ	$0	–	-4,390	–	-0.25%	–
GOOG	Exit	Alphabet Inc. Cl. C	$0	–	-683	–	-0.25%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-7,922	–	-0.26%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-15,140	–	-0.27%	–
BEN	Exit	Franklin Resources	$0	–	-16,796	–	-0.29%	–
GE	Exit	General Electric Co.	$0	–	-20,678	–	-0.29%	–
CCL	Exit	Carnival Corp.	$0	–	-13,100	–	-0.31%	–
ORCL	Exit	Oracle Corp.	$0	–	-16,266	–	-0.31%	–
SPNC	Exit	Spectranetics	$0	–	-26,072	–	-0.31%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,500	–	-0.37%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-20,912	–	-0.38%	–
CVX	Exit	Chevron Corp.	$0	–	-8,269	–	-0.41%	–
INTC	Exit	Intel Corp.	$0	–	-26,986	–	-0.49%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-8,000	–	-0.50%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-24,591	–	-0.51%	–
SPY	Exit	SPDR S&P 500	$0	–	-8,053	–	-0.83%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-52,364	–	-0.94%	–
FTV	Exit	Fortive Corp.	$0	–	-74,511	–	-1.82%	–
ZBH	Exit	Zimmer Biomet	$0	–	-31,045	–	-1.93%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-99,601	–	-2.11%	–
T	Exit	AT&T Inc.	$0	–	-110,408	–	-2.15%	–
WMT	Exit	Wal-Mart Stores	$0	–	-62,586	–	-2.16%	–
EMR	Exit	Emerson Electric Co.	$0	–	-87,753	–	-2.29%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-55,918	–	-2.34%	–
ADP	Exit	Automatic Data Proc.	$0	–	-59,878	–	-2.53%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-34,459	–	-2.55%	–
DIS	Exit	Disney (Walt) Co.	$0	–	-60,086	–	-2.67%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-97,167	–	-2.75%	–
SYK	Exit	Stryker Corp.	$0	–	-49,698	–	-2.77%	–
ABT	Exit	Abbott Laboratories	$0	–	-137,310	–	-2.78%	–
AAPL	Exit	Apple Inc.	$0	–	-52,302	–	-2.83%	–
UTX	Exit	United Technologies	$0	–	-58,245	–	-2.83%	–
FDX	Exit	FedEx Corp.	$0	–	-34,385	–	-2.88%	–
DHR	Exit	Danaher Corp.	$0	–	-77,203	–	-2.90%	–
NKE	Exit	Nike, Inc.Cl.B	$0	–	-117,155	–	-2.95%	–
DEO	Exit	Diageo plc ADR	$0	–	-55,398	–	-3.08%	–
MSFT	Exit	Microsoft	$0	–	-117,735	–	-3.25%	–
IWM	Exit	Russell 2000 iShares	$0	–	-54,743	–	-3.26%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-97,500	–	-3.46%	–
KO	Exit	Coca-Cola Co.	$0	–	-172,458	–	-3.50%	–
MMM	Exit	3M Company	$0	–	-41,535	–	-3.50%	–
BRKB	Exit	Berkshire Hathaway Cl.B	$0	–	-51,769	–	-3.58%	–
ITW	Exit	Illinois Tool Works	$0	–	-62,960	–	-3.61%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-95,848	–	-3.63%	–
JNJ	Exit	Johnson & Johnson	$0	–	-65,465	–	-3.70%	–
PG	Exit	Procter & Gamble Co.	$0	–	-86,515	–	-3.72%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-72,386	–	-3.77%	–
BDX	Exit	Becton Dickinson	$0	–	-45,971	–	-3.96%	–

Q3 2016

			Value		Shares		↓ Weighting
BDX	Sell	Becton Dickinson	$8,262,000	+5.5%	45,971	-0.5%	3.96%	+2.3%
PEP	Sell	PepsiCo, Inc.	$7,873,000	+2.0%	72,386	-0.6%	3.77%	-1.1%
PG	Buy	Procter & Gamble Co.	$7,765,000	+6.0%	86,515	+0.0%	3.72%	+2.8%
JNJ	Sell	Johnson & Johnson	$7,733,000	-3.8%	65,465	-1.2%	3.70%	-6.7%
NSRGY	Sell	Nestle S.A. ADR	$7,574,000	+1.8%	95,848	-0.4%	3.63%	-1.3%
ITW	Sell	Illinois Tool Works	$7,545,000	+11.9%	62,960	-2.7%	3.61%	+8.5%
BRKB	Sell	Berkshire Hathaway Cl.B	$7,479,000	-0.6%	51,769	-0.4%	3.58%	-3.6%
MMM	Sell	3M Company	$7,320,000	+0.4%	41,535	-0.2%	3.50%	-2.6%
KO	Sell	Coca-Cola Co.	$7,298,000	-7.0%	172,458	-0.3%	3.50%	-9.8%
CL	Sell	Colgate-Palmolive Co.	$7,229,000	-0.8%	97,500	-2.0%	3.46%	-3.8%
IWM	Sell	Russell 2000 iShares	$6,800,000	+6.9%	54,743	-1.1%	3.26%	+3.6%
MSFT	Sell	Microsoft	$6,782,000	+12.2%	117,735	-0.3%	3.25%	+8.8%
DEO	Sell	Diageo plc ADR	$6,428,000	+2.6%	55,398	-0.2%	3.08%	-0.5%
NKE	Buy	Nike, Inc.Cl.B	$6,168,000	+0.0%	117,155	+4.9%	2.95%	-3.0%
DHR	Buy	Danaher Corp.	$6,052,000	-20.6%	77,203	+2.3%	2.90%	-23.0%
FDX	Buy	FedEx Corp.	$6,006,000	+16.0%	34,385	+0.8%	2.88%	+12.5%
UTX	Sell	United Technologies	$5,918,000	-1.1%	58,245	-0.1%	2.83%	-4.1%
AAPL	Sell	Apple Inc.	$5,913,000	+17.7%	52,302	-0.5%	2.83%	+14.1%
ABT	Buy	Abbott Laboratories	$5,807,000	+7.8%	137,310	+0.2%	2.78%	+4.5%
SYK	Sell	Stryker Corp.	$5,785,000	-3.0%	49,698	-0.1%	2.77%	-5.9%
EFA	Sell	MSCI EAFE iShares	$5,745,000	+4.9%	97,167	-1.0%	2.75%	+1.7%
DIS	Buy	Disney (Walt) Co.	$5,580,000	+7.2%	60,086	+12.9%	2.67%	+4.0%
IJH	Sell	S&P Core Mid-Cap iShares	$5,331,000	+3.4%	34,459	-0.2%	2.55%	+0.3%
ADP	Buy	Automatic Data Proc.	$5,281,000	+0.5%	59,878	+4.7%	2.53%	-2.6%
XOM	Sell	Exxon Mobil Corp.	$4,881,000	-8.5%	55,918	-1.7%	2.34%	-11.3%
EMR	Sell	Emerson Electric Co.	$4,783,000	+3.6%	87,753	-0.9%	2.29%	+0.4%
WMT	Sell	Wal-Mart Stores	$4,514,000	-3.9%	62,586	-2.8%	2.16%	-6.9%
T	Buy	AT&T Inc.	$4,484,000	-4.8%	110,408	+1.3%	2.15%	-7.7%
WFC	Sell	Wells Fargo & Co.	$4,410,000	-6.6%	99,601	-0.2%	2.11%	-9.4%
ZBH	Buy	Zimmer Biomet	$4,036,000	+8.8%	31,045	+0.7%	1.93%	+5.5%
FTV	New	Fortive Corp.	$3,793,000	–	74,511	–	1.82%	–
EEM	Sell	MSCI Emerging Markets iShares	$1,961,000	+7.2%	52,364	-1.7%	0.94%	+3.9%
SPY	Sell	SPDR S&P 500	$1,742,000	-6.8%	8,053	-9.8%	0.83%	-9.6%
INTC	Sell	Intel Corp.	$1,019,000	+14.5%	26,986	-0.5%	0.49%	+10.9%
CVX	Sell	Chevron Corp.	$851,000	-48.6%	8,269	-47.7%	0.41%	-50.1%
VWO	Sell	Vanguard FTSE Emerg. Mkts. ETF	$787,000	+4.5%	20,912	-2.2%	0.38%	+1.3%
SPNC	Sell	Spectranetics	$654,000	+20.2%	26,072	-10.3%	0.31%	+16.4%
VEA	Sell	Vanguard FTSE Devel. Mkts. ETF	$566,000	+1.4%	15,140	-4.0%	0.27%	-1.8%
AAXJ	Buy	MSCI Asia ex-Japan iShares	$433,000	+13.9%	7,150	+2.9%	0.21%	+10.1%
IBM	Sell	International Business Machine	$356,000	-0.8%	2,239	-5.3%	0.17%	-4.0%
GIS	Sell	General Mills Inc.	$334,000	-11.6%	5,225	-1.4%	0.16%	-14.4%
CAT	New	Caterpillar Inc.	$203,000	–	2,290	–	0.10%	–
XLB	Exit	Select SPDR-Materials	$0	–	-9,700	–	-0.22%	–

Q2 2016

			Value		Shares		↓ Weighting
JNJ	New	Johnson & Johnson	$8,035,000	–	66,241	–	3.97%	–
KO	New	Coca-Cola Co.	$7,844,000	–	173,033	–	3.87%	–
BDX	New	Becton Dickinson	$7,833,000	–	46,187	–	3.87%	–
PEP	New	PepsiCo, Inc.	$7,716,000	–	72,831	–	3.81%	–
DHR	New	Danaher Corp.	$7,623,000	–	75,473	–	3.76%	–
BRKB	New	Berkshire Hathaway Cl.B	$7,525,000	–	51,975	–	3.72%	–
NSRGY	New	Nestle S.A. ADR	$7,441,000	–	96,248	–	3.68%	–
PG	New	Procter & Gamble Co.	$7,323,000	–	86,490	–	3.62%	–
MMM	New	3M Company	$7,290,000	–	41,626	–	3.60%	–
CL	New	Colgate-Palmolive Co.	$7,284,000	–	99,510	–	3.60%	–
ITW	New	Illinois Tool Works	$6,741,000	–	64,720	–	3.33%	–
IWM	New	Russell 2000 iShares	$6,364,000	–	55,353	–	3.14%	–
DEO	New	Diageo plc ADR	$6,264,000	–	55,493	–	3.09%	–
NKE	New	Nike, Inc. Cl.B	$6,166,000	–	111,695	–	3.04%	–
MSFT	New	Microsoft	$6,043,000	–	118,090	–	2.98%	–
UTX	New	United Technologies	$5,982,000	–	58,330	–	2.95%	–
SYK	New	Stryker Corp.	$5,963,000	–	49,758	–	2.94%	–
EFA	New	MSCI EAFE iShares	$5,476,000	–	98,102	–	2.70%	–
ABT	New	Abbott Laboratories	$5,387,000	–	137,045	–	2.66%	–
XOM	New	Exxon Mobil Corp.	$5,334,000	–	56,898	–	2.63%	–
ADP	New	Automatic Data Proc.	$5,256,000	–	57,210	–	2.60%	–
DIS	New	Disney (Walt) Co.	$5,205,000	–	53,206	–	2.57%	–
FDX	New	FedEx Corp.	$5,176,000	–	34,100	–	2.56%	–
IJH	New	S&P Core Mid-Cap iShares	$5,156,000	–	34,514	–	2.55%	–
AAPL	New	Apple Inc.	$5,025,000	–	52,563	–	2.48%	–
WFC	New	Wells Fargo & Co.	$4,723,000	–	99,786	–	2.33%	–
T	New	AT&T Inc.	$4,710,000	–	109,003	–	2.33%	–
WMT	New	Wal-Mart Stores	$4,699,000	–	64,356	–	2.32%	–
EMR	New	Emerson Electric Co.	$4,618,000	–	88,543	–	2.28%	–
ZBH	New	Zimmer Biomet	$3,711,000	–	30,830	–	1.83%	–
SPY	New	SPDR S&P 500	$1,869,000	–	8,923	–	0.92%	–
EEM	New	MSCI Emerging Markets iShares	$1,830,000	–	53,274	–	0.90%	–
CVX	New	Chevron Corp.	$1,656,000	–	15,799	–	0.82%	–
GSK	New	GlaxoSmithKline PLC ADR	$1,066,000	–	24,591	–	0.53%	–
VO	New	Vanguard Mid-Cap ETF	$989,000	–	8,000	–	0.49%	–
INTC	New	Intel Corp.	$890,000	–	27,120	–	0.44%	–
VWO	New	Vanguard FTSE Emerg.Mkts. ETF	$753,000	–	21,377	–	0.37%	–
VGT	New	Vanguard Info. Technology ETF	$696,000	–	6,500	–	0.34%	–
ORCL	New	Oracle Corp.	$666,000	–	16,266	–	0.33%	–
GE	New	General Electric Co.	$651,000	–	20,678	–	0.32%	–
CCL	New	Carnival Corp.	$579,000	–	13,100	–	0.29%	–
BEN	New	Franklin Resources	$560,000	–	16,796	–	0.28%	–
VEA	New	Vanguard FTSE Devel.Mkts. ETF	$558,000	–	15,770	–	0.28%	–
SPNC	New	Spectranetics	$544,000	–	29,072	–	0.27%	–
GOOG	New	Alphabet Inc. Cl. C	$473,000	–	683	–	0.23%	–
QQQ	New	PowerShares QQQ	$472,000	–	4,390	–	0.23%	–
XLB	New	Select SPDR-Materials	$449,000	–	9,700	–	0.22%	–
DE	New	Deere & Co.	$426,000	–	5,261	–	0.21%	–
QCOM	New	Qualcomm Inc.	$424,000	–	7,922	–	0.21%	–
TJX	New	T J X Cos. Inc.	$422,000	–	5,466	–	0.21%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$380,000	–	6,950	–	0.19%	–
GIS	New	General Mills Inc.	$378,000	–	5,300	–	0.19%	–
IBM	New	International Business Machine	$359,000	–	2,364	–	0.18%	–
JPM	New	JPMorgan Chase	$277,000	–	4,465	–	0.14%	–
APA	New	Apache Corp.	$262,000	–	4,704	–	0.13%	–
TGT	New	Target Corp.	$257,000	–	3,685	–	0.13%	–
PM	New	Philip Morris Int'l.	$257,000	–	2,525	–	0.13%	–
SJM	New	J.M. Smucker Co.	$229,000	–	1,500	–	0.11%	–
CERN	New	Cerner Corp.	$205,000	–	3,500	–	0.10%	–

Q4 2015

			Value		Shares		↓ Weighting
OSBC	Exit	Old Second Bancorp	$0	–	-19,142	–	-0.06%	–
CERN	Exit	Cerner Corp.	$0	–	-3,700	–	-0.12%	–
PM	Exit	Philip Morris Int'l.	$0	–	-3,025	–	-0.12%	–
IBM	Exit	International Business Machine	$0	–	-1,710	–	-0.13%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,465	–	-0.14%	–
GIS	Exit	General Mills Inc.	$0	–	-5,300	–	-0.15%	–
TGT	Exit	Target Corp.	$0	–	-4,025	–	-0.16%	–
COP	Exit	ConocoPhillips	$0	–	-6,970	–	-0.17%	–
AAXJ	Exit	MSCI Asia ex-Japan iShares	$0	–	-6,950	–	-0.19%	–
XLB	Exit	Select SPDR-Materials	$0	–	-9,700	–	-0.20%	–
TJX	Exit	T J X Cos. Inc.	$0	–	-5,466	–	-0.20%	–
DE	Exit	Deere & Co.	$0	–	-5,261	–	-0.20%	–
GOOGL	Exit	Google Inc. Cl. C	$0	–	-675	–	-0.21%	–
SPNC	Exit	Spectranetics	$0	–	-34,812	–	-0.21%	–
QQQ	Exit	PowerShares QQQ	$0	–	-4,315	–	-0.23%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-10,441	–	-0.28%	–
ORCL	Exit	Oracle Corp.	$0	–	-16,266	–	-0.30%	–
GE	Exit	General Electric Co.	$0	–	-23,753	–	-0.31%	–
VEA	Exit	Vanguard FTSE Devel. Mkts. ETF	$0	–	-18,150	–	-0.33%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,500	–	-0.34%	–
CCL	Exit	Carnival Corp.	$0	–	-13,100	–	-0.34%	–
DIS	Exit	Disney (Walt) Co.	$0	–	-7,626	–	-0.40%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-23,617	–	-0.40%	–
INTC	Exit	Intel Corp.	$0	–	-27,120	–	-0.42%	–
VO	Exit	Vanguard Mid-Cap ETF	$0	–	-8,000	–	-0.48%	–
BEN	Exit	Franklin Resources	$0	–	-27,346	–	-0.53%	–
GSK	Exit	GlaxoSmithKline PLC ADR	$0	–	-30,991	–	-0.62%	–
CVX	Exit	Chevron Corp.	$0	–	-17,249	–	-0.70%	–
SPY	Exit	SPDR S&P 500	$0	–	-7,535	–	-0.74%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-58,184	–	-0.98%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-58,049	–	-1.61%	–
SLB	Exit	Schlumberger Ltd.	$0	–	-48,831	–	-1.74%	–
T	Exit	AT&T Inc.	$0	–	-112,168	–	-1.89%	–
EMR	Exit	Emerson Electric Co.	$0	–	-93,505	–	-2.13%	–
FDX	Exit	FedEx Corp.	$0	–	-28,883	–	-2.15%	–
AXP	Exit	American Express Co.	$0	–	-56,940	–	-2.18%	–
WMT	Exit	Wal-Mart Stores	$0	–	-69,426	–	-2.32%	–
ABT	Exit	Abbott Laboratories	$0	–	-112,160	–	-2.33%	–
ADP	Exit	Automatic Data Proc.	$0	–	-57,050	–	-2.37%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-65,018	–	-2.50%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-35,839	–	-2.53%	–
UTX	Exit	United Technologies	$0	–	-57,695	–	-2.65%	–
SYK	Exit	Stryker Corp.	$0	–	-54,743	–	-2.66%	–
MSFT	Exit	Microsoft	$0	–	-125,815	–	-2.88%	–
ITW	Exit	Illinois Tool Works	$0	–	-68,450	–	-2.91%	–
DEO	Exit	Diageo plc ADR	$0	–	-53,845	–	-3.00%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-102,887	–	-3.04%	–
ESRX	Exit	Express Scripts	$0	–	-73,694	–	-3.08%	–
AAPL	Exit	Apple Inc.	$0	–	-55,346	–	-3.15%	–
MMM	Exit	3M Company	$0	–	-43,201	–	-3.16%	–
BDX	Exit	Becton Dickinson	$0	–	-48,887	–	-3.35%	–
PG	Exit	Procter & Gamble Co.	$0	–	-90,835	–	-3.37%	–
IWM	Exit	Russell 2000 iShares	$0	–	-59,983	–	-3.38%	–
JNJ	Exit	Johnson & Johnson	$0	–	-71,146	–	-3.43%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-106,450	–	-3.49%	–
BRKB	Exit	Berkshire Hathaway Cl.B	$0	–	-52,480	–	-3.53%	–
DHR	Exit	Danaher Corp.	$0	–	-83,533	–	-3.67%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-76,086	–	-3.70%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-99,108	–	-3.85%	–
KO	Exit	Coca-Cola Co.	$0	–	-194,078	–	-4.02%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-67,205	–	-4.27%	–

Q3 2015

			Value		Shares		↓ Weighting
NKE	Sell	Nike, Inc. Cl. B	$8,264,000	+4.3%	67,205	-8.4%	4.27%	+9.6%
KO	Buy	Coca-Cola Co.	$7,786,000	+4.0%	194,078	+1.7%	4.02%	+9.3%
NSRGY	Buy	Nestle S.A. ADR	$7,457,000	+4.6%	99,108	+0.4%	3.85%	+10.0%
PEP	Buy	PepsiCo, Inc.	$7,175,000	+1.8%	76,086	+0.8%	3.70%	+7.1%
DHR	Sell	Danaher Corp.	$7,118,000	-0.9%	83,533	-0.5%	3.67%	+4.2%
BRKB	Buy	Berkshire Hathaway Cl.B	$6,843,000	-0.3%	52,480	+4.1%	3.53%	+4.9%
CL	Buy	Colgate-Palmolive Co.	$6,755,000	-2.8%	106,450	+0.2%	3.49%	+2.3%
JNJ	Buy	Johnson & Johnson	$6,641,000	-1.6%	71,146	+2.8%	3.43%	+3.5%
IWM	Sell	Russell 2000 iShares	$6,550,000	-14.0%	59,983	-1.7%	3.38%	-9.6%
PG	Buy	Procter & Gamble Co.	$6,535,000	-2.6%	90,835	+5.9%	3.37%	+2.4%
BDX	Buy	Becton Dickinson	$6,485,000	-3.4%	48,887	+3.2%	3.35%	+1.6%
MMM	Buy	3M Company	$6,125,000	-5.6%	43,201	+2.8%	3.16%	-0.7%
AAPL	Buy	Apple Inc.	$6,105,000	-10.1%	55,346	+2.3%	3.15%	-5.4%
ESRX	Buy	Express Scripts	$5,966,000	-8.4%	73,694	+0.6%	3.08%	-3.7%
EFA	Sell	MSCI EAFE iShares	$5,897,000	-10.2%	102,887	-0.6%	3.04%	-5.6%
DEO	Buy	Diageo plc ADR	$5,804,000	-5.7%	53,845	+1.5%	3.00%	-0.9%
ITW	Buy	Illinois Tool Works	$5,634,000	-8.4%	68,450	+2.2%	2.91%	-3.6%
MSFT	Buy	Microsoft	$5,569,000	+2.0%	125,815	+1.8%	2.88%	+7.3%
SYK	Buy	Stryker Corp.	$5,151,000	-0.5%	54,743	+1.1%	2.66%	+4.7%
UTX	Buy	United Technologies	$5,134,000	-16.0%	57,695	+4.7%	2.65%	-11.6%
IJH	Sell	S&P Core Mid-Cap iShares	$4,896,000	-9.2%	35,839	-0.3%	2.53%	-4.5%
XOM	Buy	Exxon Mobil Corp.	$4,834,000	-10.0%	65,018	+0.7%	2.50%	-5.3%
ADP	Sell	Automatic Data Proc.	$4,585,000	-0.1%	57,050	-0.3%	2.37%	+5.1%
ABT	Buy	Abbott Laboratories	$4,511,000	-15.9%	112,160	+2.6%	2.33%	-11.5%
WMT	Buy	Wal-Mart Stores	$4,502,000	-5.3%	69,426	+3.6%	2.32%	-0.4%
AXP	Sell	American Express Co.	$4,221,000	-13.3%	56,940	-9.1%	2.18%	-8.9%
FDX	New	FedEx Corp.	$4,159,000	–	28,883	–	2.15%	–
EMR	Sell	Emerson Electric Co.	$4,130,000	-20.9%	93,505	-0.7%	2.13%	-16.8%
T	Buy	AT&T Inc.	$3,654,000	-4.1%	112,168	+4.6%	1.89%	+0.9%
SLB	Sell	Schlumberger Ltd.	$3,368,000	-21.1%	48,831	-1.4%	1.74%	-17.1%
QCOM	Sell	Qualcomm Inc.	$3,119,000	-20.1%	58,049	-6.9%	1.61%	-16.0%
EEM	Sell	MSCI Emerging Markets iShares	$1,907,000	-20.6%	58,184	-4.0%	0.98%	-16.5%
SPY	Sell	SPDR S&P 500	$1,444,000	-18.5%	7,535	-12.5%	0.74%	-14.4%
CVX	Sell	Chevron Corp.	$1,361,000	-23.4%	17,249	-6.3%	0.70%	-19.4%
INTC	Sell	Intel Corp.	$817,000	-5.1%	27,120	-4.2%	0.42%	-0.2%
VWO	Sell	Vanguard FTSE Emerg. Mkts. ETF	$781,000	-20.6%	23,617	-1.9%	0.40%	-16.6%
DIS	Buy	Disney (Walt) Co.	$779,000	-9.1%	7,626	+1.6%	0.40%	-4.5%
VEA	Buy	Vanguard FTSE Devel. Mkts. ETF	$647,000	+4.2%	18,150	+15.9%	0.33%	+9.5%
GE	Buy	General Electric Co.	$599,000	-2.6%	23,753	+2.6%	0.31%	+2.3%
ORCL	Buy	Oracle Corp.	$588,000	-6.5%	16,266	+4.2%	0.30%	-1.6%
WFC	Buy	Wells Fargo & Co.	$536,000	-5.0%	10,441	+4.2%	0.28%	0.0%
QQQ	Sell	PowerShares QQQ	$439,000	-7.0%	4,315	-2.2%	0.23%	-2.2%
SPNC	Sell	Spectranetics	$410,000	-50.2%	34,812	-2.8%	0.21%	-47.7%
GOOGL	Buy	Google Inc. Cl. C	$411,000	+26.1%	675	+7.7%	0.21%	+32.5%
COP	Sell	ConocoPhillips	$334,000	-24.1%	6,970	-2.8%	0.17%	-20.4%
TGT	Sell	Target Corp.	$317,000	-49.8%	4,025	-48.0%	0.16%	-47.1%
GIS	Sell	General Mills Inc.	$297,000	-3.6%	5,300	-4.2%	0.15%	+1.3%
JPM	Buy	JPMorgan Chase	$272,000	-1.4%	4,465	+9.7%	0.14%	+3.7%
PM	Sell	Philip Morris Int'l.	$240,000	-5.1%	3,025	-4.0%	0.12%	0.0%
OSBC	New	Old Second Bancorp	$119,000	–	19,142	–	0.06%	–
CAT	Exit	Caterpillar Inc.	$0	–	-2,360	–	-0.10%	–
APA	Exit	Apache Corp.	$0	–	-4,704	–	-0.13%	–

Q2 2015

			Value		Shares		↓ Weighting
NKE	New	Nike, Inc. Cl. B	$7,927,000	–	73,380	–	3.89%	–
IWM	New	Russell 2000 iShares	$7,619,000	–	61,018	–	3.74%	–
KO	New	Coca-Cola Co.	$7,489,000	–	190,908	–	3.68%	–
DHR	New	Danaher Corp.	$7,184,000	–	83,938	–	3.53%	–
NSRGY	New	Nestle S.A. ADR	$7,126,000	–	98,748	–	3.50%	–
PEP	New	PepsiCo, Inc.	$7,045,000	–	75,479	–	3.46%	–
CL	New	Colgate-Palmolive Co.	$6,947,000	–	106,200	–	3.41%	–
BRKB	New	Berkshire Hathaway Cl B	$6,861,000	–	50,407	–	3.37%	–
AAPL	New	Apple Inc.	$6,788,000	–	54,117	–	3.33%	–
JNJ	New	Johnson & Johnson	$6,746,000	–	69,219	–	3.31%	–
BDX	New	Becton Dickinson	$6,713,000	–	47,389	–	3.30%	–
PG	New	Procter & Gamble Co.	$6,712,000	–	85,785	–	3.30%	–
EFA	New	MSCI EAFE iShares	$6,570,000	–	103,487	–	3.22%	–
ESRX	New	Express Scripts	$6,513,000	–	73,224	–	3.20%	–
MMM	New	3M Company	$6,487,000	–	42,044	–	3.18%	–
DEO	New	Diageo plc ADR	$6,157,000	–	53,059	–	3.02%	–
ITW	New	Illinois Tool Works	$6,148,000	–	66,980	–	3.02%	–
UTX	New	United Technologies	$6,110,000	–	55,080	–	3.00%	–
MSFT	New	Microsoft	$5,458,000	–	123,633	–	2.68%	–
IJH	New	S&P Core Mid-Cap iShares	$5,392,000	–	35,949	–	2.65%	–
XOM	New	Exxon Mobil Corp.	$5,370,000	–	64,543	–	2.64%	–
ABT	New	Abbott Laboratories	$5,364,000	–	109,295	–	2.63%	–
EMR	New	Emerson Electric Co.	$5,220,000	–	94,180	–	2.56%	–
SYK	New	Stryker Corp.	$5,175,000	–	54,148	–	2.54%	–
AXP	New	American Express Co.	$4,871,000	–	62,670	–	2.39%	–
WMT	New	Wal-Mart Stores	$4,755,000	–	67,040	–	2.33%	–
ADP	New	Automatic Data Proc.	$4,590,000	–	57,213	–	2.25%	–
SLB	New	Schlumberger Ltd.	$4,271,000	–	49,548	–	2.10%	–
QCOM	New	Qualcomm Inc.	$3,905,000	–	62,343	–	1.92%	–
T	New	AT&T Inc.	$3,810,000	–	107,268	–	1.87%	–
EEM	New	MSCI Emerging Markets iShares	$2,402,000	–	60,614	–	1.18%	–
CVX	New	Chevron Corp.	$1,776,000	–	18,409	–	0.87%	–
SPY	New	SPDR S&P 500	$1,772,000	–	8,610	–	0.87%	–
BEN	New	Franklin Resources	$1,341,000	–	27,346	–	0.66%	–
GSK	New	GlaxoSmithKline PLC ADR	$1,291,000	–	30,991	–	0.63%	–
VO	New	Vanguard Mid-Cap ETF	$1,019,000	–	8,000	–	0.50%	–
VWO	New	Vanguard FTSE Emerg. Mkts. ETF	$984,000	–	24,077	–	0.48%	–
INTC	New	Intel Corp.	$861,000	–	28,320	–	0.42%	–
DIS	New	Disney (Walt) Co.	$857,000	–	7,506	–	0.42%	–
SPNC	New	Spectranetics	$824,000	–	35,812	–	0.40%	–
VGT	New	Vanguard Info. Technology ETF	$690,000	–	6,500	–	0.34%	–
CCL	New	Carnival Corp.	$647,000	–	13,100	–	0.32%	–
TGT	New	Target Corp.	$632,000	–	7,745	–	0.31%	–
ORCL	New	Oracle Corp.	$629,000	–	15,611	–	0.31%	–
VEA	New	Vanguard FTSE Devel. Mkts. ETF	$621,000	–	15,665	–	0.30%	–
GE	New	General Electric Co.	$615,000	–	23,150	–	0.30%	–
WFC	New	Wells Fargo & Co.	$564,000	–	10,021	–	0.28%	–
DE	New	Deere & Co.	$511,000	–	5,261	–	0.25%	–
QQQ	New	PowerShares QQQ	$472,000	–	4,410	–	0.23%	–
XLB	New	Select SPDR-Materials	$469,000	–	9,700	–	0.23%	–
COP	New	ConocoPhillips	$440,000	–	7,170	–	0.22%	–
AAXJ	New	MSCI Asia ex-Japan iShares	$438,000	–	6,950	–	0.22%	–
TJX	New	T J X Cos. Inc.	$362,000	–	5,466	–	0.18%	–
GOOGL	New	Google Inc. Class C	$326,000	–	627	–	0.16%	–
GIS	New	General Mills Inc.	$308,000	–	5,530	–	0.15%	–
IBM	New	International Business Machine	$278,000	–	1,710	–	0.14%	–
JPM	New	JPMorgan Chase	$276,000	–	4,070	–	0.14%	–
APA	New	Apache Corp.	$271,000	–	4,704	–	0.13%	–
CERN	New	Cerner Corp.	$256,000	–	3,700	–	0.13%	–
PM	New	Philip Morris Int'l.	$253,000	–	3,150	–	0.12%	–
CAT	New	Caterpillar Inc.	$200,000	–	2,360	–	0.10%	–

Q4 2014

			Value		Shares		↓ Weighting
OSBC	Exit	Old Second Bancorp	$0	–	-13,142	–	-0.03%	–
CERN	Exit	Cerner Corp.	$0	–	-3,700	–	-0.12%	–
RDSA	Exit	Royal Dutch Shell Cl.A	$0	–	-2,900	–	-0.12%	–
CAT	Exit	Caterpillar Inc.	$0	–	-2,360	–	-0.12%	–
INTC	Exit	Intel Corp.	$0	–	-6,776	–	-0.12%	–
GOOGL	Exit	Google Inc. Class C	$0	–	-426	–	-0.13%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,320	–	-0.14%	–
HAL	Exit	Halliburton Co.	$0	–	-4,150	–	-0.14%	–
GIS	Exit	General Mills Inc.	$0	–	-5,530	–	-0.15%	–
PM	Exit	Philip Morris Int'l.	$0	–	-3,873	–	-0.17%	–
IBM	Exit	International Business Machine	$0	–	-1,780	–	-0.18%	–
MCD	Exit	McDonald's Corp.	$0	–	-3,795	–	-0.19%	–
QQQ	Exit	PowerShares QQQ	$0	–	-4,410	–	-0.23%	–
XLB	Exit	Select SPDR-Materials	$0	–	-9,700	–	-0.25%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-10,021	–	-0.27%	–
TGT	Exit	Target Corp.	$0	–	-8,780	–	-0.29%	–
GE	Exit	General Electric Co.	$0	–	-23,450	–	-0.32%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,500	–	-0.34%	–
VWO	Exit	Vanguard FTSE Emerg.Mkts. ETF	$0	–	-22,044	–	-0.48%	–
SPNC	Exit	Spectranetics	$0	–	-36,890	–	-0.51%	–
SPY	Exit	SPDR S&P 500	$0	–	-8,810	–	-0.91%	–
COP	Exit	ConocoPhillips	$0	–	-25,545	–	-1.02%	–
CVX	Exit	Chevron Corp.	$0	–	-19,654	–	-1.23%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-61,764	–	-1.34%	–
T	Exit	AT&T Inc.	$0	–	-97,813	–	-1.80%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-54,062	–	-2.12%	–
SYK	Exit	Stryker Corp.	$0	–	-51,233	–	-2.17%	–
AFL	Exit	Aflac Inc.	$0	–	-76,305	–	-2.33%	–
ABT	Exit	Abbott Laboratories	$0	–	-107,090	–	-2.33%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-34,194	–	-2.45%	–
UTX	Exit	United Technologies	$0	–	-46,730	–	-2.58%	–
ADP	Exit	Automatic Data Proc.	$0	–	-59,897	–	-2.60%	–
WMT	Exit	Wal-Mart Stores	$0	–	-65,251	–	-2.61%	–
SLB	Exit	Schlumberger Ltd.	$0	–	-50,217	–	-2.67%	–
ESRX	Exit	Express Scripts	$0	–	-74,129	–	-2.74%	–
BDX	Exit	Becton Dickinson	$0	–	-48,805	–	-2.91%	–
DEO	Exit	Diageo plc ADR	$0	–	-48,560	–	-2.93%	–
MSFT	Exit	Microsoft	$0	–	-122,113	–	-2.96%	–
AAPL	Exit	Apple Inc.	$0	–	-56,873	–	-3.00%	–
EMR	Exit	Emerson Electric Co.	$0	–	-91,910	–	-3.01%	–
ITW	Exit	Illinois Tool Works	$0	–	-69,515	–	-3.07%	–
MMM	Exit	3M Company	$0	–	-42,976	–	-3.19%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-97,261	–	-3.26%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-69,046	–	-3.40%	–
DHR	Exit	Danaher Corp.	$0	–	-86,123	–	-3.43%	–
PG	Exit	Procter & Gamble Co.	$0	–	-81,385	–	-3.57%	–
IWM	Exit	Russell 2000 iShares	$0	–	-63,628	–	-3.64%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-95,113	–	-3.67%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-78,690	–	-3.67%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-108,382	–	-3.70%	–
BRKB	Exit	Berkshire Hathaway Cl.B	$0	–	-51,692	–	-3.74%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-77,138	–	-3.76%	–
JNJ	Exit	Johnson & Johnson	$0	–	-69,186	–	-3.86%	–
KO	Exit	Coca-Cola Co.	$0	–	-180,649	–	-4.03%	–

Q3 2014

			Value		Shares		↓ Weighting
KO	Sell	Coca-Cola Co.	$7,706,000	-1.9%	180,649	-2.5%	4.03%	+2.5%
JNJ	Sell	Johnson & Johnson	$7,375,000	+1.4%	69,186	-0.4%	3.86%	+6.0%
PEP	Sell	PepsiCo, Inc.	$7,181,000	+3.7%	77,138	-0.5%	3.76%	+8.3%
BRKB	Sell	Berkshire Hathaway Cl.B	$7,141,000	+8.1%	51,692	-1.0%	3.74%	+12.9%
CL	Sell	Colgate-Palmolive Co.	$7,069,000	-6.7%	108,382	-2.4%	3.70%	-2.5%
NKE	Sell	Nike, Inc. Cl. B	$7,019,000	+14.4%	78,690	-0.5%	3.67%	+19.5%
NSRGY	Buy	Nestle S.A. ADR	$7,003,000	-3.9%	95,113	+1.4%	3.67%	+0.4%
IWM	Sell	Russell 2000 iShares	$6,958,000	-8.8%	63,628	-0.9%	3.64%	-4.7%
PG	Buy	Procter & Gamble Co.	$6,815,000	+6.7%	81,385	+0.1%	3.57%	+11.4%
DHR	Buy	Danaher Corp.	$6,544,000	+2.5%	86,123	+6.2%	3.43%	+7.1%
XOM	Sell	Exxon Mobil Corp.	$6,494,000	-6.8%	69,046	-0.2%	3.40%	-2.6%
EFA	Sell	MSCI EAFE iShares	$6,236,000	-6.2%	97,261	-0.0%	3.26%	-2.0%
ITW	Sell	Illinois Tool Works	$5,868,000	-3.9%	69,515	-0.3%	3.07%	+0.5%
EMR	Sell	Emerson Electric Co.	$5,752,000	-6.6%	91,910	-1.0%	3.01%	-2.4%
AAPL	Sell	Apple Inc.	$5,730,000	+7.8%	56,873	-0.5%	3.00%	+12.7%
MSFT	Sell	Microsoft	$5,661,000	+4.9%	122,113	-5.6%	2.96%	+9.7%
DEO	Buy	Diageo plc ADR	$5,604,000	-7.3%	48,560	+2.2%	2.93%	-3.2%
BDX	Buy	Becton Dickinson	$5,555,000	-3.5%	48,805	+0.3%	2.91%	+0.8%
ESRX	Sell	Express Scripts	$5,236,000	+0.9%	74,129	-1.0%	2.74%	+5.4%
SLB	Buy	Schlumberger Ltd.	$5,107,000	-13.1%	50,217	+0.8%	2.67%	-9.2%
WMT	Buy	Wal-Mart Stores	$4,990,000	+2.0%	65,251	+0.1%	2.61%	+6.6%
ADP	Buy	Automatic Data Proc.	$4,976,000	+4.9%	59,897	+0.1%	2.60%	+9.6%
UTX	Buy	United Technologies	$4,935,000	-4.9%	46,730	+4.0%	2.58%	-0.6%
IJH	Buy	S&P Core Mid-Cap iShares	$4,676,000	-3.9%	34,194	+0.6%	2.45%	+0.5%
ABT	Buy	Abbott Laboratories	$4,454,000	+1.8%	107,090	+0.1%	2.33%	+6.4%
AFL	Sell	Aflac Inc.	$4,445,000	-12.6%	76,305	-6.6%	2.33%	-8.7%
SYK	Sell	Stryker Corp.	$4,137,000	-5.2%	51,233	-1.0%	2.17%	-0.9%
QCOM	Buy	Qualcomm Inc.	$4,042,000	-5.3%	54,062	+0.4%	2.12%	-1.0%
T	Buy	AT&T Inc.	$3,447,000	+0.3%	97,813	+0.6%	1.80%	+4.8%
EEM	Sell	MSCI Emerging Markets iShares	$2,567,000	-4.4%	61,764	-0.6%	1.34%	-0.1%
CVX	Buy	Chevron Corp.	$2,345,000	-7.7%	19,654	+1.0%	1.23%	-3.5%
COP	Sell	ConocoPhillips	$1,955,000	-12.3%	25,545	-1.7%	1.02%	-8.4%
SPY	Buy	SPDR S&P 500	$1,736,000	+3.0%	8,810	+2.3%	0.91%	+7.6%
VWO	Buy	Vanguard FTSE Emerg.Mkts. ETF	$919,000	-2.1%	22,044	+1.3%	0.48%	+2.3%
GE	Buy	General Electric Co.	$601,000	+0.7%	23,450	+3.3%	0.32%	+5.4%
TGT	Sell	Target Corp.	$550,000	-26.9%	8,780	-32.3%	0.29%	-23.6%
WFC	Sell	Wells Fargo & Co.	$520,000	-1.7%	10,021	-0.4%	0.27%	+2.6%
MCD	Sell	McDonald's Corp.	$360,000	-93.1%	3,795	-92.7%	0.19%	-92.8%
PM	Buy	Philip Morris Int'l.	$323,000	+1.6%	3,873	+2.7%	0.17%	+6.3%
GIS	Sell	General Mills Inc.	$279,000	-5.4%	5,530	-1.6%	0.15%	-1.4%
JPM	Buy	JPMorgan Chase	$260,000	+5.7%	4,320	+1.2%	0.14%	+10.6%
CERN	Sell	Cerner Corp.	$220,000	+7.8%	3,700	-6.3%	0.12%	+12.7%
OSBC	Sell	Old Second Bancorp	$63,000	-49.6%	13,142	-47.7%	0.03%	-47.6%
UNP	Exit	Union Pacific Corp.	$0	–	-2,050	–	-0.10%	–
	Exit	Nestle S.A. Ord.	$0	–	-2,775	–	-0.11%	–

Q2 2014

			Value		Shares		↓ Weighting
KO	New	Coca-Cola Co.	$7,852,000	–	185,354	–	3.93%	–
IWM	New	Russell 2000 iShares	$7,631,000	–	64,230	–	3.82%	–
CL	New	Colgate-Palmolive Co.	$7,573,000	–	111,072	–	3.79%	–
NSRGY	New	Nestle S.A. ADR	$7,287,000	–	93,818	–	3.65%	–
JNJ	New	Johnson & Johnson	$7,270,000	–	69,486	–	3.64%	–
XOM	New	Exxon Mobil Corp.	$6,968,000	–	69,214	–	3.49%	–
PEP	New	PepsiCo, Inc.	$6,925,000	–	77,513	–	3.47%	–
EFA	New	MSCI EAFE iShares	$6,651,000	–	97,276	–	3.33%	–
BRKB	New	Berkshire Hathaway Cl. B	$6,606,000	–	52,197	–	3.31%	–
PG	New	Procter & Gamble Co.	$6,390,000	–	81,309	–	3.20%	–
DHR	New	Danaher Corp.	$6,382,000	–	81,058	–	3.20%	–
EMR	New	Emerson Electric Co.	$6,159,000	–	92,810	–	3.09%	–
MMM	New	3M Company	$6,156,000	–	42,976	–	3.08%	–
NKE	New	Nike, Inc. Cl. B	$6,135,000	–	79,115	–	3.07%	–
ITW	New	Illinois Tool Works	$6,103,000	–	69,705	–	3.06%	–
DEO	New	Diageo plc ADR	$6,048,000	–	47,520	–	3.03%	–
SLB	New	Schlumberger Ltd.	$5,874,000	–	49,797	–	2.94%	–
BDX	New	Becton Dickinson	$5,758,000	–	48,670	–	2.88%	–
MSFT	New	Microsoft	$5,394,000	–	129,344	–	2.70%	–
AAPL	New	Apple Inc.	$5,313,000	–	57,168	–	2.66%	–
MCD	New	McDonald's Corp.	$5,213,000	–	51,744	–	2.61%	–
ESRX	New	Express Scripts	$5,189,000	–	74,840	–	2.60%	–
UTX	New	United Technologies	$5,188,000	–	44,935	–	2.60%	–
AFL	New	Aflac Inc.	$5,086,000	–	81,710	–	2.55%	–
WMT	New	Wal-Mart Stores	$4,892,000	–	65,166	–	2.45%	–
IJH	New	S&P Core Mid-Cap iShares	$4,865,000	–	34,004	–	2.44%	–
ADP	New	Automatic Data Proc.	$4,745,000	–	59,857	–	2.38%	–
ABT	New	Abbott Laboratories	$4,374,000	–	106,935	–	2.19%	–
SYK	New	Stryker Corp.	$4,363,000	–	51,738	–	2.19%	–
QCOM	New	Qualcomm Inc.	$4,266,000	–	53,865	–	2.14%	–
T	New	AT&T Inc.	$3,436,000	–	97,183	–	1.72%	–
EEM	New	MSCI Emerging Markets iShares	$2,685,000	–	62,109	–	1.34%	–
CVX	New	Chevron Corp.	$2,541,000	–	19,464	–	1.27%	–
COP	New	ConocoPhillips	$2,229,000	–	25,995	–	1.12%	–
SPY	New	SPDR S&P 500	$1,686,000	–	8,615	–	0.84%	–
VWO	New	Vanguard FTSE Emerg. Mkts. ETF	$939,000	–	21,767	–	0.47%	–
SPNC	New	Spectranetics	$844,000	–	36,890	–	0.42%	–
TGT	New	Target Corp.	$752,000	–	12,975	–	0.38%	–
VGT	New	Vanguard Info. Technology ETF	$629,000	–	6,500	–	0.32%	–
GE	New	General Electric Co.	$597,000	–	22,700	–	0.30%	–
WFC	New	Wells Fargo & Co.	$529,000	–	10,061	–	0.26%	–
XLB	New	Select SPDR-Materials	$482,000	–	9,700	–	0.24%	–
QQQ	New	PowerShares QQQ	$414,000	–	4,410	–	0.21%	–
IBM	New	International Business Machine	$323,000	–	1,780	–	0.16%	–
PM	New	Philip Morris Int'l.	$318,000	–	3,773	–	0.16%	–
HAL	New	Halliburton Co.	$295,000	–	4,150	–	0.15%	–
GIS	New	General Mills Inc.	$295,000	–	5,618	–	0.15%	–
CAT	New	Caterpillar Inc.	$256,000	–	2,360	–	0.13%	–
GOOGL	New	Google Inc. Class C	$245,000	–	426	–	0.12%	–
JPM	New	JPMorgan Chase	$246,000	–	4,270	–	0.12%	–
RDSA	New	Royal Dutch Shell Cl. A	$239,000	–	2,900	–	0.12%	–
	New	Nestle S.A. Ord.	$215,000	–	2,775	–	0.11%	–
INTC	New	Intel Corp.	$209,000	–	6,776	–	0.10%	–
CERN	New	Cerner Corp.	$204,000	–	3,950	–	0.10%	–
UNP	New	Union Pacific Corp.	$204,000	–	2,050	–	0.10%	–
OSBC	New	Old Second Bancorp	$125,000	–	25,142	–	0.06%	–

Q4 2013

			Value		Shares		↓ Weighting
CERN	Exit	Cerner Corp.	$0	–	-4,000	–	-0.12%	–
RDSA	Exit	Royal Dutch Shell Cl.A	$0	–	-3,250	–	-0.12%	–
JPM	Exit	JPMorgan Chase	$0	–	-4,170	–	-0.12%	–
GIS	Exit	General Mills Inc.	$0	–	-5,530	–	-0.15%	–
PM	Exit	Philip Morris Int'l.	$0	–	-3,361	–	-0.17%	–
IBM	Exit	International Business Machine	$0	–	-1,700	–	-0.18%	–
WFC	Exit	Wells Fargo & Co.	$0	–	-7,686	–	-0.18%	–
QQQ	Exit	PowerShares QQQ	$0	–	-4,360	–	-0.20%	–
PSX	Exit	Phillips 66	$0	–	-6,706	–	-0.22%	–
XLB	Exit	Select SPDR-Materials	$0	–	-9,700	–	-0.24%	–
GE	Exit	General Electric Co.	$0	–	-18,885	–	-0.26%	–
VGT	Exit	Vanguard Info. Technology ETF	$0	–	-6,500	–	-0.30%	–
VWO	Exit	Vanguard FTSE Emerg. Mkts. ETF	$0	–	-14,882	–	-0.34%	–
SPNC	Exit	Spectranetics	$0	–	-38,000	–	-0.37%	–
TGT	Exit	Target Corp.	$0	–	-13,145	–	-0.48%	–
T	Exit	AT&T Inc.	$0	–	-47,533	–	-0.93%	–
COP	Exit	ConocoPhillips	$0	–	-25,645	–	-1.03%	–
CVX	Exit	Chevron Corp.	$0	–	-16,869	–	-1.18%	–
SPY	Exit	SPDR S&P 500	$0	–	-12,800	–	-1.24%	–
EEM	Exit	MSCI Emerging Markets iShares	$0	–	-61,045	–	-1.44%	–
ABT	Exit	Abbott Laboratories	$0	–	-90,145	–	-1.72%	–
SYK	Exit	Stryker Corp.	$0	–	-50,249	–	-1.96%	–
QCOM	Exit	Qualcomm Inc.	$0	–	-50,455	–	-1.96%	–
AAPL	Exit	Apple Inc.	$0	–	-7,825	–	-2.15%	–
SLB	Exit	Schlumberger Ltd.	$0	–	-48,012	–	-2.45%	–
MSFT	Exit	Microsoft	$0	–	-130,252	–	-2.50%	–
IJH	Exit	S&P Core Mid-Cap iShares	$0	–	-35,501	–	-2.54%	–
ESRX	Exit	Express Scripts	$0	–	-71,650	–	-2.55%	–
ADP	Exit	Automatic Data Proc.	$0	–	-64,146	–	-2.68%	–
UTX	Exit	United Technologies	$0	–	-43,548	–	-2.71%	–
WMT	Exit	Wal-Mart Stores	$0	–	-63,863	–	-2.72%	–
BDX	Exit	Becton Dickinson	$0	–	-49,030	–	-2.83%	–
MCD	Exit	McDonald's Corp.	$0	–	-52,134	–	-2.89%	–
AFL	Exit	Aflac Inc.	$0	–	-81,670	–	-2.92%	–
MMM	Exit	3M Company	$0	–	-42,936	–	-2.96%	–
ITW	Exit	Illinois Tool Works	$0	–	-71,039	–	-3.12%	–
JNJ	Exit	Johnson & Johnson	$0	–	-64,394	–	-3.22%	–
PG	Exit	Procter & Gamble Co.	$0	–	-76,395	–	-3.33%	–
DEO	Exit	Diageo plc ADR	$0	–	-45,745	–	-3.35%	–
EFA	Exit	MSCI EAFE iShares	$0	–	-91,672	–	-3.37%	–
DHR	Exit	Danaher Corp.	$0	–	-84,792	–	-3.39%	–
XOM	Exit	Exxon Mobil Corp.	$0	–	-68,420	–	-3.39%	–
BRKB	Exit	Berkshire Hathaway Cl.B	$0	–	-51,867	–	-3.39%	–
PEP	Exit	PepsiCo, Inc.	$0	–	-74,230	–	-3.40%	–
EMR	Exit	Emerson Electric Co.	$0	–	-93,100	–	-3.47%	–
NKE	Exit	Nike, Inc. Cl. B	$0	–	-86,765	–	-3.63%	–
NSRGY	Exit	Nestle S.A. ADR	$0	–	-92,974	–	-3.73%	–
CL	Exit	Colgate-Palmolive Co.	$0	–	-113,787	–	-3.89%	–
KO	Exit	Coca-Cola Co.	$0	–	-182,399	–	-3.98%	–
IWM	Exit	Russell 2000 iShares	$0	–	-73,070	–	-4.49%	–

Q3 2013

			Value		Shares		↓ Weighting
IWM	Buy	Russell 2000 iShares	$7,790,000	+10.8%	73,070	+0.8%	4.49%	+3.1%
KO	Buy	Coca-Cola Co.	$6,909,000	-5.0%	182,399	+0.6%	3.98%	-11.5%
CL	Buy	Colgate-Palmolive Co.	$6,748,000	+3.8%	113,787	+0.3%	3.89%	-3.4%
NSRGY	Buy	Nestle S.A. ADR	$6,471,000	+6.7%	92,974	+0.8%	3.73%	-0.7%
NKE	Sell	Nike, Inc. Cl. B	$6,303,000	+12.8%	86,765	-1.1%	3.63%	+5.0%
EMR	Buy	Emerson Electric Co.	$6,024,000	+18.7%	93,100	+0.1%	3.47%	+10.5%
PEP	Buy	PepsiCo, Inc.	$5,901,000	-2.2%	74,230	+0.6%	3.40%	-9.0%
BRKB	Buy	Berkshire Hathaway Cl.B	$5,887,000	+1.5%	51,867	+0.1%	3.39%	-5.5%
XOM	Buy	Exxon Mobil Corp.	$5,887,000	-4.0%	68,420	+0.8%	3.39%	-10.6%
DHR	Buy	Danaher Corp.	$5,878,000	+10.1%	84,792	+0.5%	3.39%	+2.4%
EFA	Buy	MSCI EAFE iShares	$5,849,000	+12.8%	91,672	+1.3%	3.37%	+5.0%
DEO	Buy	Diageo plc ADR	$5,813,000	+12.2%	45,745	+1.5%	3.35%	+4.5%
PG	Buy	Procter & Gamble Co.	$5,775,000	-1.6%	76,395	+0.2%	3.33%	-8.4%
JNJ	Sell	Johnson & Johnson	$5,582,000	-0.2%	64,394	-1.1%	3.22%	-7.0%
ITW	Buy	Illinois Tool Works	$5,418,000	+10.6%	71,039	+0.3%	3.12%	+2.9%
MMM	Buy	3M Company	$5,127,000	+9.2%	42,936	+0.0%	2.96%	+1.7%
AFL	Sell	Aflac Inc.	$5,063,000	+6.2%	81,670	-0.4%	2.92%	-1.1%
MCD	Buy	McDonald's Corp.	$5,016,000	-1.4%	52,134	+1.5%	2.89%	-8.2%
BDX	Buy	Becton Dickinson	$4,904,000	+2.3%	49,030	+1.1%	2.83%	-4.7%
WMT	Buy	Wal-Mart Stores	$4,723,000	+0.9%	63,863	+1.6%	2.72%	-6.1%
UTX	Buy	United Technologies	$4,695,000	+18.6%	43,548	+2.2%	2.71%	+10.4%
ADP	Sell	Automatic Data Proc.	$4,643,000	+2.7%	64,146	-2.2%	2.68%	-4.4%
ESRX	Buy	Express Scripts	$4,428,000	+2.3%	71,650	+2.2%	2.55%	-4.7%
IJH	Buy	S&P Core Mid-Cap iShares	$4,407,000	+8.8%	35,501	+1.2%	2.54%	+1.3%
MSFT	Sell	Microsoft	$4,335,000	-4.9%	130,252	-1.3%	2.50%	-11.4%
SLB	Buy	Schlumberger Ltd.	$4,242,000	+24.5%	48,012	+0.9%	2.45%	+15.9%
AAPL	Buy	Apple Inc.	$3,731,000	+20.5%	7,825	+0.2%	2.15%	+12.1%
QCOM	New	Qualcomm Inc.	$3,397,000	–	50,455	–	1.96%	–
SYK	Sell	Stryker Corp.	$3,396,000	+4.3%	50,249	-0.2%	1.96%	-2.9%
ABT	Buy	Abbott Laboratories	$2,992,000	+19.3%	90,145	+25.4%	1.72%	+11.0%
EEM	Sell	MSCI Emerging Markets iShares	$2,488,000	+5.7%	61,045	-0.2%	1.44%	-1.6%
SPY	Sell	SPDR S&P 500	$2,151,000	-2.5%	12,800	-7.0%	1.24%	-9.3%
COP	Sell	ConocoPhillips	$1,783,000	+14.7%	25,645	-0.2%	1.03%	+6.7%
T	Buy	AT&T Inc.	$1,608,000	+208.0%	47,533	+222.6%	0.93%	+187.0%
TGT	Buy	Target Corp.	$841,000	-3.9%	13,145	+3.5%	0.48%	-10.5%
VWO	Buy	Vanguard FTSE Emerg. Mkts. ETF	$597,000	+13.3%	14,882	+9.6%	0.34%	+5.5%
GE	Sell	General Electric Co.	$451,000	+2.5%	18,885	-0.4%	0.26%	-4.8%
PSX	Sell	Phillips 66	$388,000	-2.3%	6,706	-0.4%	0.22%	-8.9%
QQQ	Sell	PowerShares QQQ	$344,000	+2.4%	4,360	-7.6%	0.20%	-4.8%
WFC	Sell	Wells Fargo & Co.	$318,000	-3.0%	7,686	-3.2%	0.18%	-9.9%
CERN	New	Cerner Corp.	$210,000	–	4,000	–	0.12%	–
ABBV	Exit	AbbVie Inc.	$0	–	-7,550	–	-0.19%	–
TEVA	Exit	Teva Pharmaceutical ADR	$0	–	-37,075	–	-0.90%	–

Q2 2013

			Value		Shares		↓ Weighting
KO	New	Coca-Cola Co.	$7,271,000	–	181,264	–	4.50%	–
IWM	New	Russell 2000 iShares	$7,032,000	–	72,490	–	4.36%	–
CL	New	Colgate-Palmolive Co.	$6,499,000	–	113,442	–	4.03%	–
XOM	New	Exxon Mobil Corp.	$6,131,000	–	67,853	–	3.80%	–
NSRGY	New	Nestle S.A. ADR	$6,066,000	–	92,214	–	3.76%	–
PEP	New	PepsiCo, Inc.	$6,035,000	–	73,792	–	3.74%	–
PG	New	Procter & Gamble Co.	$5,871,000	–	76,253	–	3.64%	–
BRKB	New	Berkshire Hathaway Cl. B	$5,799,000	–	51,812	–	3.59%	–
JNJ	New	Johnson & Johnson	$5,591,000	–	65,117	–	3.46%	–
NKE	New	Nike, Inc. Cl. B	$5,587,000	–	87,735	–	3.46%	–
DHR	New	Danaher Corp.	$5,340,000	–	84,357	–	3.31%	–
EFA	New	MSCI EAFE iShares	$5,186,000	–	90,512	–	3.21%	–
DEO	New	Diageo plc ADR	$5,181,000	–	45,070	–	3.21%	–
MCD	New	McDonald's Corp.	$5,086,000	–	51,379	–	3.15%	–
EMR	New	Emerson Electric Co.	$5,074,000	–	93,030	–	3.14%	–
ITW	New	Illinois Tool Works	$4,899,000	–	70,826	–	3.04%	–
BDX	New	Becton Dickinson	$4,793,000	–	48,500	–	2.97%	–
AFL	New	Aflac Inc.	$4,766,000	–	81,995	–	2.95%	–
MMM	New	3M Company	$4,693,000	–	42,916	–	2.91%	–
WMT	New	Wal-Mart Stores	$4,682,000	–	62,848	–	2.90%	–
MSFT	New	Microsoft	$4,557,000	–	131,922	–	2.82%	–
ADP	New	Automatic Data Proc.	$4,519,000	–	65,621	–	2.80%	–
ESRX	New	Express Scripts	$4,327,000	–	70,090	–	2.68%	–
IJH	New	S&P Core Mid-Cap iShares	$4,051,000	–	35,076	–	2.51%	–
UTX	New	United Technologies	$3,960,000	–	42,613	–	2.45%	–
SLB	New	Schlumberger Ltd.	$3,408,000	–	47,562	–	2.11%	–
SYK	New	Stryker Corp.	$3,256,000	–	50,341	–	2.02%	–
AAPL	New	Apple Inc.	$3,096,000	–	7,807	–	1.92%	–
ABT	New	Abbott Laboratories	$2,508,000	–	71,895	–	1.55%	–
EEM	New	MSCI Emerging Markets iShares	$2,354,000	–	61,140	–	1.46%	–
SPY	New	SPDR S&P 500	$2,207,000	–	13,760	–	1.37%	–
CVX	New	Chevron Corp.	$1,996,000	–	16,869	–	1.24%	–
COP	New	ConocoPhillips	$1,555,000	–	25,705	–	0.96%	–
TEVA	New	Teva Pharmaceutical ADR	$1,453,000	–	37,075	–	0.90%	–
TGT	New	Target Corp.	$875,000	–	12,705	–	0.54%	–
SPNC	New	Spectranetics	$710,000	–	38,000	–	0.44%	–
VWO	New	Vanguard FTSE Emerg. Mkts. ETF	$527,000	–	13,582	–	0.33%	–
T	New	AT&T Inc.	$522,000	–	14,734	–	0.32%	–
VGT	New	Vanguard Info. Technology ETF	$481,000	–	6,500	–	0.30%	–
GE	New	General Electric Co.	$440,000	–	18,960	–	0.27%	–
PSX	New	Phillips 66	$397,000	–	6,731	–	0.25%	–
XLB	New	Select SPDR-Materials	$372,000	–	9,700	–	0.23%	–
QQQ	New	PowerShares QQQ	$336,000	–	4,720	–	0.21%	–
WFC	New	Wells Fargo & Co.	$328,000	–	7,936	–	0.20%	–
IBM	New	International Business Machine	$325,000	–	1,700	–	0.20%	–
ABBV	New	AbbVie Inc.	$312,000	–	7,550	–	0.19%	–
PM	New	Philip Morris Int'l.	$291,000	–	3,361	–	0.18%	–
GIS	New	General Mills Inc.	$268,000	–	5,530	–	0.17%	–
JPM	New	JPMorgan Chase	$220,000	–	4,170	–	0.14%	–
RDSA	New	Royal Dutch Shell Cl. A	$207,000	–	3,250	–	0.13%	–

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