FOUNDERS CAPITAL MANAGEMENT, LLC Activity Q4 2013-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
GOOG	Sell	ALPHABET INCcap stk cl c	$62,348,964	+7.9%	472,878	-1.0%	14.15%	+10.0%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$51,321,402	+1.5%	146,507	-1.2%	11.65%	+3.4%
MSFT	Sell	MICROSOFT CORP	$39,024,490	-8.7%	123,593	-1.5%	8.86%	-6.9%
FB	Sell	META PLATFORMS INCcl a	$29,886,206	+3.9%	99,551	-0.7%	6.78%	+5.9%
FDX	Sell	FEDEX CORP	$19,211,204	+6.6%	72,517	-0.2%	4.36%	+8.6%
AAPL	Sell	APPLE INC	$14,046,639	-14.5%	82,043	-3.1%	3.19%	-12.8%
PEP	Sell	PEPSICO INC	$13,595,357	-10.3%	80,237	-2.0%	3.09%	-8.6%
CSX	Sell	CSX CORP	$13,490,948	-10.6%	438,730	-0.8%	3.06%	-8.9%
WFC	Sell	WELLS FARGO CO NEW	$12,389,161	-5.9%	303,210	-1.7%	2.81%	-4.1%
HD	Sell	HOME DEPOT INC	$12,178,559	-3.2%	40,305	-0.5%	2.76%	-1.4%
GOOGL	Buy	ALPHABET INCcap stk cl a	$11,863,637	+17.0%	90,659	+7.1%	2.69%	+19.3%
AXP	Buy	AMERICAN EXPRESS CO	$11,577,442	-12.0%	77,602	+2.7%	2.63%	-10.4%
KMX	Sell	CARMAX INC	$10,394,127	-19.1%	146,955	-4.3%	2.36%	-17.6%
UNP	Buy	UNION PAC CORP	$9,625,183	-0.3%	47,268	+0.2%	2.18%	+1.6%
KO	Sell	COCA COLA CO	$7,989,746	-7.1%	142,725	-0.0%	1.81%	-5.3%
CMCSA	Sell	COMCAST CORP NEWcl a	$7,673,702	+5.7%	173,065	-0.9%	1.74%	+7.7%
DIS	Buy	DISNEY WALT CO	$7,411,603	-7.6%	91,445	+1.8%	1.68%	-5.8%
LMT	Sell	LOCKHEED MARTIN CORP	$6,582,211	-14.2%	16,095	-3.4%	1.49%	-12.6%
REGN	Sell	REGENERON PHARMACEUTICALS	$6,531,834	+13.2%	7,937	-1.2%	1.48%	+15.3%
GD	Sell	GENERAL DYNAMICS CORP	$5,967,295	+2.2%	27,005	-0.4%	1.36%	+4.2%
SWK	Sell	STANLEY BLACK & DECKER INC	$4,673,209	-12.4%	55,913	-1.8%	1.06%	-10.8%
JNJ	Sell	JOHNSON & JOHNSON	$3,904,185	-6.8%	25,067	-0.9%	0.89%	-5.0%
LOW	Sell	LOWES COS INC	$3,757,539	-9.0%	18,079	-1.2%	0.85%	-7.3%
ABBV	Buy	ABBVIE INC	$3,417,350	+11.0%	22,926	+0.3%	0.78%	+13.1%
ABT	Sell	ABBOTT LABS	$3,085,350	-11.5%	31,857	-0.4%	0.70%	-9.9%
BACPRL	Sell	BANK AMERICA CORP7.25%cnv pfd l	$2,952,918	-5.4%	2,655	-0.3%	0.67%	-3.6%
CSCO	Sell	CISCO SYS INC	$2,825,464	+3.8%	52,557	-0.1%	0.64%	+5.8%
KHC	New	KRAFT HEINZ CO	$2,557,750	–	76,033	–	0.58%	–
MTB	Sell	M & T BK CORP	$2,128,533	-6.6%	16,833	-8.6%	0.48%	-4.9%
NYCBPRU	Sell	NEW YORK CMNTY CAP TR Vunit 05/07/2051	$1,195,268	-9.9%	32,774	-0.1%	0.27%	-8.4%
	Buy	WARNER BROS DISCOVERY INC	$829,780	-8.4%	76,407	+5.8%	0.19%	-6.9%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$793,022	-22.6%	11,633	-9.6%	0.18%	-21.1%
RTX	Sell	RTX CORPORATION	$632,041	-28.4%	8,782	-2.6%	0.14%	-27.4%
BAC	Sell	BANK AMERICA CORP	$514,333	-5.4%	18,785	-0.8%	0.12%	-3.3%
AMZN	Buy	AMAZON COM INC	$388,479	+0.0%	3,056	+2.6%	0.09%	+1.1%
BOMN	Buy	BOSTON OMAHA CORP	$333,373	-12.3%	20,340	+0.7%	0.08%	-10.6%
	New	SHELL PLCspon ads	$319,454	–	4,962	–	0.07%	–
NSC	Buy	NORFOLK SOUTHN CORP	$314,497	-7.5%	1,597	+6.5%	0.07%	-6.6%
CARR	Sell	CARRIER GLOBAL CORPORATION	$269,100	+10.9%	4,875	-0.1%	0.06%	+13.0%
PNC	New	PNC FINL SVCS GROUP INC	$246,768	–	2,010	–	0.06%	–
KEY	Exit	KEYCORP	$0	–	-16,800	–	-0.04%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-2,020	–	-0.04%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-2,450	–	-0.05%	–
B	Exit	BARNES GROUP INC	$0	–	-5,416	–	-0.05%	–
SJM	Exit	SMUCKER J M CO	$0	–	-6,289	–	-0.21%	–

Q2 2023

			Value		Shares		↓ Weighting
GOOG	New	ALPHABET INCcap stk cl c	$57,767,772	–	477,538	–	12.87%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$50,559,047	–	148,267	–	11.26%	–
MSFT	New	MICROSOFT CORP	$42,727,554	–	125,470	–	9.52%	–
FB	New	META PLATFORMS INCcl a	$28,756,544	–	100,204	–	6.41%	–
FDX	New	FEDEX CORP	$18,019,107	–	72,687	–	4.01%	–
AAPL	New	APPLE INC	$16,419,431	–	84,649	–	3.66%	–
PEP	New	PEPSICO INC	$15,157,108	–	81,833	–	3.38%	–
CSX	New	CSX CORP	$15,088,773	–	442,486	–	3.36%	–
WFC	New	WELLS FARGO CO NEW	$13,163,238	–	308,417	–	2.93%	–
AXP	New	AMERICAN EXPRESS CO	$13,161,855	–	75,556	–	2.93%	–
KMX	New	CARMAX INC	$12,850,545	–	153,531	–	2.86%	–
HD	New	HOME DEPOT INC	$12,586,822	–	40,519	–	2.80%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$11,713,231	–	26,424	–	2.61%	–
GOOGL	New	ALPHABET INCcap stk cl a	$10,135,837	–	84,677	–	2.26%	–
UNP	New	UNION PAC CORP	$9,651,721	–	47,169	–	2.15%	–
KO	New	COCA COLA CO	$8,597,971	–	142,776	–	1.92%	–
DIS	New	DISNEY WALT CO	$8,019,382	–	89,823	–	1.79%	–
LMT	New	LOCKHEED MARTIN CORP	$7,672,693	–	16,666	–	1.71%	–
CMCSA	New	COMCAST CORP NEWcl a	$7,257,289	–	174,664	–	1.62%	–
VONE	New	VANGUARD SCOTTSDALE FDSvng rus1000idx	$6,087,918	–	30,204	–	1.36%	–
GD	New	GENERAL DYNAMICS CORP	$5,836,374	–	27,127	–	1.30%	–
REGN	New	REGENERON PHARMACEUTICALS	$5,771,313	–	8,032	–	1.29%	–
SWK	New	STANLEY BLACK & DECKER INC	$5,336,129	–	56,943	–	1.19%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$4,992,342	–	13,514	–	1.11%	–
JNJ	New	JOHNSON & JOHNSON	$4,188,153	–	25,303	–	0.93%	–
LOW	New	LOWES COS INC	$4,129,633	–	18,297	–	0.92%	–
ABT	New	ABBOTT LABS	$3,486,787	–	31,983	–	0.78%	–
AMGN	New	AMGEN INC	$3,407,563	–	15,348	–	0.76%	–
QSR	New	RESTAURANT BRANDS INTL INC	$3,368,399	–	43,452	–	0.75%	–
BACPRL	New	BANK AMERICA CORP7.25%cnv pfd l	$3,121,728	–	2,664	–	0.70%	–
ABBV	New	ABBVIE INC	$3,079,389	–	22,856	–	0.69%	–
SYK	New	STRYKER CORPORATION	$2,977,373	–	9,759	–	0.66%	–
CSCO	New	CISCO SYS INC	$2,722,507	–	52,619	–	0.61%	–
IJR	New	ISHARES TRcore s&p scp etf	$2,375,855	–	23,842	–	0.53%	–
MTB	New	M & T BK CORP	$2,278,545	–	18,411	–	0.51%	–
INTC	New	INTEL CORP	$2,018,004	–	60,347	–	0.45%	–
QRVO	New	QORVO INC	$1,615,645	–	15,835	–	0.36%	–
MHK	New	MOHAWK INDS INC	$1,486,845	–	14,413	–	0.33%	–
NYCBPRU	New	NEW YORK CMNTY CAP TR Vunit 05/07/2051	$1,327,043	–	32,807	–	0.30%	–
WFCPRL	New	WELLS FARGO CO NEWperp pfd cnv a	$1,305,216	–	1,133	–	0.29%	–
ORCL	New	ORACLE CORP	$1,110,157	–	9,322	–	0.25%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$1,024,721	–	12,875	–	0.23%	–
PG	New	PROCTER AND GAMBLE CO	$969,467	–	6,389	–	0.22%	–
MKL	New	MARKEL GROUP INC	$965,460	–	698	–	0.22%	–
SJM	New	SMUCKER J M CO	$928,697	–	6,289	–	0.21%	–
SAM	New	BOSTON BEER INCcl a	$923,778	–	2,995	–	0.21%	–
	New	WARNER BROS DISCOVERY INC	$905,727	–	72,227	–	0.20%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$883,305	–	9,017	–	0.20%	–
UNH	New	UNITEDHEALTH GROUP INC	$831,988	–	1,731	–	0.18%	–
MDT	New	MEDTRONIC PLC	$720,306	–	8,176	–	0.16%	–
CI	New	THE CIGNA GROUP	$652,676	–	2,326	–	0.14%	–
GIS	New	GENERAL MLS INC	$613,293	–	7,996	–	0.14%	–
BAC	New	BANK AMERICA CORP	$543,446	–	18,942	–	0.12%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$517,810	–	1	–	0.12%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$443,285	–	2,473	–	0.10%	–
WBS	New	WEBSTER FINL CORP	$434,012	–	11,497	–	0.10%	–
MCK	New	MCKESSON CORP	$434,574	–	1,017	–	0.10%	–
WMT	New	WALMART INC	$389,806	–	2,480	–	0.09%	–
AMZN	New	AMAZON COM INC	$388,342	–	2,979	–	0.09%	–
BOMN	New	BOSTON OMAHA CORP	$380,258	–	20,205	–	0.08%	–
MRNA	New	MODERNA INC	$366,930	–	3,020	–	0.08%	–
NSC	New	NORFOLK SOUTHN CORP	$339,913	–	1,499	–	0.08%	–
AMP	New	AMERIPRISE FINL INC	$332,160	–	1,000	–	0.07%	–
FBP	New	FIRST BANCORP P R	$317,720	–	26,000	–	0.07%	–
NYT	New	NEW YORK TIMES COcl a	$315,040	–	8,000	–	0.07%	–
FAST	New	FASTENAL CO	$300,849	–	5,100	–	0.07%	–
V	New	VISA INC	$297,562	–	1,253	–	0.07%	–
CAC	New	CAMDEN NATL CORP	$288,021	–	9,300	–	0.06%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$268,376	–	9,420	–	0.06%	–
OFG	New	OFG BANCORP	$260,800	–	10,000	–	0.06%	–
DRI	New	DARDEN RESTAURANTS INC	$250,620	–	1,500	–	0.06%	–
CARR	New	CARRIER GLOBAL CORPORATION	$242,635	–	4,881	–	0.05%	–
CVX	New	CHEVRON CORP NEW	$236,812	–	1,505	–	0.05%	–
B	New	BARNES GROUP INC	$228,501	–	5,416	–	0.05%	–
OTIS	New	OTIS WORLDWIDE CORP	$218,075	–	2,450	–	0.05%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$203,858	–	2,020	–	0.04%	–
KEY	New	KEYCORP	$155,232	–	16,800	–	0.04%	–

Q4 2022

			Value		Shares		↓ Weighting
CVX	Exit	Chevrontexaco Corp	$0	–	-1,430	–	-0.06%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-3,040	–	-0.06%	–
V	Exit	Visa Inc Cl A	$0	–	-1,253	–	-0.06%	–
NYT	Exit	New York Times Cocl a	$0	–	-8,000	–	-0.06%	–
FAST	Exit	Fastenal Co	$0	–	-5,100	–	-0.07%	–
KEY	Exit	KeyCorp	$0	–	-16,800	–	-0.08%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-9,420	–	-0.08%	–
BOMN	Exit	Boston Omaha Corp	$0	–	-13,155	–	-0.08%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-2,455	–	-0.09%	–
MCK	Exit	Mckesson Corporation	$0	–	-1,017	–	-0.10%	–
CAC	Exit	Camden National Corp	$0	–	-9,300	–	-0.11%	–
UPS	Exit	United Parcel Service Bcl b	$0	–	-2,475	–	-0.11%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.11%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,247	–	-0.13%	–
WBS	Exit	Webster Financial Corp	$0	–	-12,337	–	-0.16%	–
BAC	Exit	Bank Of America Corp	$0	–	-18,770	–	-0.16%	–
ORCL	Exit	Oracle Corporation	$0	–	-9,322	–	-0.16%	–
GIS	Exit	General Mills Inc	$0	–	-8,000	–	-0.17%	–
CI	Exit	Cigna Corp	$0	–	-2,326	–	-0.18%	–
RTX	Exit	Raytheon Technologies Ord	$0	–	-8,899	–	-0.20%	–
PG	Exit	Procter & Gamble	$0	–	-6,389	–	-0.23%	–
UNH	Exit	Unitedhealth Group Inc	$0	–	-1,641	–	-0.23%	–
	Exit	WARNER BROS. DISCOVERY SRS A ORD WI	$0	–	-72,467	–	-0.23%	–
MKL	Exit	Markel Corp	$0	–	-814	–	-0.25%	–
SJM	Exit	J M Smucker Co New	$0	–	-6,720	–	-0.26%	–
MDT	Exit	Medtronic Inc	$0	–	-11,924	–	-0.27%	–
SAM	Exit	Boston Beer Co Inccl a	$0	–	-2,995	–	-0.27%	–
MHK	Exit	Mohawk Industries Inc	$0	–	-13,688	–	-0.35%	–
QRVO	Exit	Qorvo Inc	$0	–	-15,955	–	-0.36%	–
IFF	Exit	International Flavors & Fragrances Inc	$0	–	-14,938	–	-0.38%	–
NYCBPRU	Exit	New York Community Capital Trust Vunit 05/07/2051	$0	–	-32,264	–	-0.40%	–
WFCPRL	Exit	Wells Fargo Banperp pfd cnv a	$0	–	-1,469	–	-0.50%	–
CMCSA	Exit	Comcast Corp New Cl Acl a	$0	–	-67,004	–	-0.55%	–
SYK	Exit	Stryker Corp	$0	–	-9,759	–	-0.55%	–
IJR	Exit	Ishares Tr S&P Smallcapcore s&p scp etf	$0	–	-23,893	–	-0.58%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-56,119	–	-0.63%	–
SWT	Exit	STANLEY BLACK DECKER UNTunit 11/15/2022	$0	–	-47,731	–	-0.66%	–
SWK	Exit	Stanley Works	$0	–	-31,631	–	-0.67%	–
QSR	Exit	Restaurant Brands Intl Inc com	$0	–	-45,352	–	-0.68%	–
MTB	Exit	M & T Bank Corporation	$0	–	-16,796	–	-0.83%	–
BACPRL	Exit	Bank Of America 7.25 percent Non Cumulatve Perp C V T Pfd7.25%cnv pfd l	$0	–	-2,533	–	-0.83%	–
ABBV	Exit	Abbvie Inc	$0	–	-22,856	–	-0.86%	–
ABT	Exit	Abbott Laboratories	$0	–	-31,857	–	-0.86%	–
LOW	Exit	Lowes Companies Inc	$0	–	-18,352	–	-0.97%	–
AMGN	Exit	Amgen Incorporated	$0	–	-15,650	–	-0.99%	–
JNJ	Exit	Johnson & Johnson	$0	–	-26,512	–	-1.21%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-8,505	–	-1.64%	–
GD	Exit	General Dynamics Corp	$0	–	-28,011	–	-1.67%	–
GOOGL	Exit	Alphabet Inc Class Acap stk cl a	$0	–	-64,838	–	-1.74%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-16,898	–	-1.83%	–
UNP	Exit	Union Pacific Corp	$0	–	-39,502	–	-2.16%	–
INTC	Exit	Intel Corp.	$0	–	-310,783	–	-2.24%	–
DIS	Exit	Disney Walt Co	$0	–	-90,460	–	-2.39%	–
KO	Exit	Coca Cola Company	$0	–	-153,685	–	-2.41%	–
AXP	Exit	American Express Company	$0	–	-75,355	–	-2.85%	–
KMX	Exit	CarMax Inc	$0	–	-162,027	–	-3.00%	–
SPY	Exit	S P D R TRUST Unit SRtr unit	$0	–	-30,277	–	-3.03%	–
HD	Exit	Home Depot Inc	$0	–	-41,395	–	-3.20%	–
FDX	Exit	Fedex Corporation	$0	–	-77,166	–	-3.21%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-84,066	–	-3.26%	–
CSX	Exit	C S X Corp	$0	–	-462,951	–	-3.46%	–
WFC	Exit	Wells Fargo & Co New	$0	–	-316,225	–	-3.56%	–
FB	Exit	Meta Platforms Inc Class Acl a	$0	–	-105,599	–	-4.02%	–
PEP	Exit	Pepsico Incorporated	$0	–	-92,632	–	-4.24%	–
MSFT	Exit	Microsoft Corp	$0	–	-128,131	–	-8.36%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b new	$0	–	-155,758	–	-11.66%	–
GOOG	Exit	Alphabet Inc Class Ccap stk cl c	$0	–	-490,661	–	-13.22%	–

Q3 2022

			Value		Shares		↓ Weighting
GOOG	Buy	Alphabet Inc Class Ccap stk cl c	$47,177,000	-10.8%	490,661	+1929.2%	13.22%	-2.5%
BRKB	Buy	Berkshire Hathaway Class Bcl b new	$41,591,000	-1.6%	155,758	+0.6%	11.66%	+7.6%
MSFT	Buy	Microsoft Corp	$29,842,000	-7.9%	128,131	+1.6%	8.36%	+0.7%
PEP	Sell	Pepsico Incorporated	$15,123,000	-2.6%	92,632	-0.6%	4.24%	+6.5%
FB	Buy	Meta Platforms Inc Class Acl a	$14,328,000	-15.7%	105,599	+0.2%	4.02%	-7.8%
WFC	Buy	Wells Fargo & Co New	$12,719,000	+3.0%	316,225	+0.3%	3.56%	+12.6%
CSX	Buy	C S X Corp	$12,333,000	-8.3%	462,951	+0.0%	3.46%	+0.3%
AAPL	Buy	Apple Computer, Inc.	$11,618,000	+1.2%	84,066	+0.1%	3.26%	+10.6%
FDX	Buy	Fedex Corporation	$11,457,000	-33.5%	77,166	+1.5%	3.21%	-27.3%
HD	Buy	Home Depot Inc	$11,423,000	+0.7%	41,395	+0.0%	3.20%	+10.1%
SPY	Buy	S P D R TRUST Unit SRtr unit	$10,814,000	+5.8%	30,277	+11.7%	3.03%	+15.6%
KMX	Buy	CarMax Inc	$10,697,000	-26.8%	162,027	+0.4%	3.00%	-19.9%
AXP	Buy	American Express Company	$10,166,000	-2.6%	75,355	+0.1%	2.85%	+6.5%
KO	Buy	Coca Cola Company	$8,609,000	-9.9%	153,685	+1.2%	2.41%	-1.5%
DIS	Sell	Disney Walt Co	$8,533,000	-1.1%	90,460	-1.0%	2.39%	+8.2%
INTC	Buy	Intel Corp.	$8,009,000	-30.8%	310,783	+0.4%	2.24%	-24.4%
LMT	Sell	Lockheed Martin Corp	$6,528,000	-10.2%	16,898	-0.0%	1.83%	-1.8%
GOOGL	Buy	Alphabet Inc Class Acap stk cl a	$6,202,000	-13.5%	64,838	+1870.2%	1.74%	-5.4%
GD	Sell	General Dynamics Corp	$5,943,000	-4.7%	28,011	-0.6%	1.67%	+4.3%
REGN	Sell	Regeneron Pharms Inc	$5,859,000	+15.1%	8,505	-1.2%	1.64%	+25.8%
JNJ	Sell	Johnson & Johnson	$4,331,000	-8.6%	26,512	-0.6%	1.21%	0.0%
LOW	Buy	Lowes Companies Inc	$3,447,000	+11.0%	18,352	+3.2%	0.97%	+21.4%
BACPRL	Sell	Bank Of America 7.25 percent Non Cumulatve Perp C V T Pfd7.25%cnv pfd l	$2,971,000	-3.0%	2,533	-0.4%	0.83%	+6.1%
MTB	Buy	M & T Bank Corporation	$2,961,000	+24.2%	16,796	+12.2%	0.83%	+35.8%
SWK	Buy	Stanley Works	$2,379,000	-27.0%	31,631	+1.8%	0.67%	-20.1%
CSCO	Sell	Cisco Systems Inc	$2,245,000	-6.3%	56,119	-0.2%	0.63%	+2.4%
IJR	Buy	Ishares Tr S&P Smallcapcore s&p scp etf	$2,083,000	-5.4%	23,893	+0.2%	0.58%	+3.4%
CMCSA	Buy	Comcast Corp New Cl Acl a	$1,965,000	-12.0%	67,004	+17.7%	0.55%	-3.7%
WFCPRL	Sell	Wells Fargo Banperp pfd cnv a	$1,769,000	-4.4%	1,469	-3.5%	0.50%	+4.6%
NYCBPRU	Sell	New York Community Capital Trust Vunit 05/07/2051	$1,439,000	-9.3%	32,264	-6.0%	0.40%	-1.0%
IFF	Sell	International Flavors & Fragrances Inc	$1,357,000	-26.2%	14,938	-3.2%	0.38%	-19.3%
MHK	Buy	Mohawk Industries Inc	$1,248,000	-26.4%	13,688	+0.1%	0.35%	-19.5%
SJM	Sell	J M Smucker Co New	$923,000	+4.6%	6,720	-2.4%	0.26%	+14.6%
MKL	Buy	Markel Corp	$883,000	-15.1%	814	+1.2%	0.25%	-7.1%
RTX	Buy	Raytheon Technologies Ord	$728,000	-13.9%	8,899	+1.1%	0.20%	-6.0%
NSC	Buy	Norfolk Southern Corp	$471,000	+3.3%	2,247	+11.9%	0.13%	+12.8%

Q2 2022

			Value		Shares		↓ Weighting
GOOG	New	Alphabet Inc Class Ccap stk cl c	$52,893,000	–	24,180	–	13.56%	–
BRKB	New	Berkshire Hathaway Class Bcl b new	$42,259,000	–	154,782	–	10.83%	–
MSFT	New	Microsoft Corp	$32,392,000	–	126,123	–	8.30%	–
FDX	New	Fedex Corporation	$17,237,000	–	76,029	–	4.42%	–
FB	New	Meta Platforms Inc Class Acl a	$16,997,000	–	105,406	–	4.36%	–
PEP	New	Pepsico Incorporated	$15,531,000	–	93,187	–	3.98%	–
KMX	New	CarMax Inc	$14,606,000	–	161,431	–	3.74%	–
CSX	New	C S X Corp	$13,452,000	–	462,901	–	3.45%	–
WFC	New	Wells Fargo & Co New	$12,345,000	–	315,172	–	3.16%	–
INTC	New	Intel Corp.	$11,579,000	–	309,511	–	2.97%	–
AAPL	New	Apple Computer, Inc.	$11,483,000	–	83,986	–	2.94%	–
HD	New	Home Depot Inc	$11,348,000	–	41,375	–	2.91%	–
AXP	New	American Express Company	$10,438,000	–	75,302	–	2.68%	–
SPY	New	S P D R TRUST Unit SRtr unit	$10,223,000	–	27,099	–	2.62%	–
KO	New	Coca Cola Company	$9,557,000	–	151,916	–	2.45%	–
DIS	New	Disney Walt Co	$8,626,000	–	91,377	–	2.21%	–
UNP	New	Union Pacific Corp	$8,425,000	–	39,502	–	2.16%	–
LMT	New	Lockheed Martin Corp	$7,269,000	–	16,906	–	1.86%	–
GOOGL	New	Alphabet Inc Class Acap stk cl a	$7,172,000	–	3,291	–	1.84%	–
GD	New	General Dynamics Corp	$6,235,000	–	28,182	–	1.60%	–
REGN	New	Regeneron Pharms Inc	$5,090,000	–	8,611	–	1.30%	–
JNJ	New	Johnson & Johnson	$4,736,000	–	26,680	–	1.21%	–
AMGN	New	Amgen Incorporated	$3,808,000	–	15,650	–	0.98%	–
ABBV	New	Abbvie Inc	$3,501,000	–	22,856	–	0.90%	–
ABT	New	Abbott Laboratories	$3,461,000	–	31,857	–	0.89%	–
SWK	New	Stanley Works	$3,257,000	–	31,059	–	0.84%	–
SWT	New	STANLEY BLACK DECKER UNTunit 11/15/2022	$3,217,000	–	47,731	–	0.82%	–
LOW	New	Lowes Companies Inc	$3,106,000	–	17,783	–	0.80%	–
BACPRL	New	Bank Of America 7.25 percent Non Cumulatve Perp C V T Pfd7.25%cnv pfd l	$3,062,000	–	2,542	–	0.78%	–
CSCO	New	Cisco Systems Inc	$2,397,000	–	56,219	–	0.61%	–
MTB	New	M & T Bank Corporation	$2,385,000	–	14,965	–	0.61%	–
QSR	New	Restaurant Brands Intl Inc com	$2,274,000	–	45,352	–	0.58%	–
CMCSA	New	Comcast Corp New Cl Acl a	$2,233,000	–	56,904	–	0.57%	–
IJR	New	Ishares Tr S&P Smallcapcore s&p scp etf	$2,203,000	–	23,842	–	0.56%	–
SYK	New	Stryker Corp	$1,941,000	–	9,759	–	0.50%	–
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$1,850,000	–	1,522	–	0.47%	–
IFF	New	International Flavors & Fragrances Inc	$1,838,000	–	15,426	–	0.47%	–
MHK	New	Mohawk Industries Inc	$1,696,000	–	13,668	–	0.44%	–
NYCBPRU	New	New York Community Capital Trust Vunit 05/07/2051	$1,586,000	–	34,334	–	0.41%	–
QRVO	New	Qorvo Inc	$1,505,000	–	15,955	–	0.39%	–
MDT	New	Medtronic Inc	$1,070,000	–	11,924	–	0.27%	–
MKL	New	Markel Corp	$1,040,000	–	804	–	0.27%	–
	New	WARNER BROS. DISCOVERY SRS A ORD WI	$973,000	–	72,467	–	0.25%	–
PG	New	Procter & Gamble	$919,000	–	6,389	–	0.24%	–
SAM	New	Boston Beer Co Inccl a	$907,000	–	2,995	–	0.23%	–
SJM	New	J M Smucker Co New	$882,000	–	6,887	–	0.23%	–
RTX	New	Raytheon Technologies Ord	$846,000	–	8,799	–	0.22%	–
UNH	New	Unitedhealth Group Inc	$843,000	–	1,641	–	0.22%	–
ORCL	New	Oracle Corporation	$651,000	–	9,322	–	0.17%	–
CI	New	Cigna Corp	$613,000	–	2,326	–	0.16%	–
GIS	New	General Mills Inc	$604,000	–	8,000	–	0.16%	–
BAC	New	Bank Of America Corp	$584,000	–	18,770	–	0.15%	–
WBS	New	Webster Financial Corp	$520,000	–	12,337	–	0.13%	–
NSC	New	Norfolk Southern Corp	$456,000	–	2,008	–	0.12%	–
UPS	New	United Parcel Service Bcl b	$452,000	–	2,475	–	0.12%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$409,000	–	1	–	0.10%	–
CAC	New	Camden National Corp	$410,000	–	9,300	–	0.10%	–
WBA	New	Walgreens Boots Allianc	$357,000	–	9,420	–	0.09%	–
MCK	New	Mckesson Corporation	$332,000	–	1,017	–	0.08%	–
WMT	New	Wal-Mart Stores Inc	$298,000	–	2,455	–	0.08%	–
KEY	New	KeyCorp	$289,000	–	16,800	–	0.07%	–
BOMN	New	Boston Omaha Corp	$272,000	–	13,155	–	0.07%	–
FAST	New	Fastenal Co	$255,000	–	5,100	–	0.06%	–
V	New	Visa Inc Cl A	$247,000	–	1,253	–	0.06%	–
BMY	New	Bristol-Myers Squibb Co	$234,000	–	3,040	–	0.06%	–
NYT	New	New York Times Cocl a	$223,000	–	8,000	–	0.06%	–
CVX	New	Chevrontexaco Corp	$207,000	–	1,430	–	0.05%	–

Q4 2021

			Value		Shares		↓ Weighting
ADX	Exit	Adams Express Co	$0	–	-10,333	–	-0.05%	–
T	Exit	A T & T Corp New	$0	–	-7,883	–	-0.05%	–
OGN	Exit	Organon &Co Common Stock	$0	–	-6,808	–	-0.06%	–
DRI	Exit	Darden Restaurants Inc	$0	–	-1,500	–	-0.06%	–
CARR	Exit	Carrier Global Corp-Wi	$0	–	-4,741	–	-0.06%	–
B	Exit	Barnes Group Inc	$0	–	-6,016	–	-0.06%	–
FAST	Exit	Fastenal Co	$0	–	-5,100	–	-0.07%	–
V	Exit	Visa Inc Cl A	$0	–	-1,253	–	-0.07%	–
BOMN	Exit	Boston Omaha Corp	$0	–	-7,524	–	-0.07%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-2,497	–	-0.09%	–
KEY	Exit	KeyCorp	$0	–	-16,800	–	-0.09%	–
NYT	Exit	New York Times Cocl a	$0	–	-8,000	–	-0.10%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.10%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-9,420	–	-0.11%	–
CAC	Exit	Camden National Corp	$0	–	-9,300	–	-0.11%	–
UPS	Exit	United Parcel Service Bcl b	$0	–	-2,475	–	-0.11%	–
CI	Exit	Cigna Corp	$0	–	-2,296	–	-0.12%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.12%	–
GIS	Exit	General Mills Inc	$0	–	-8,000	–	-0.12%	–
UNH	Exit	Unitedhealth Group Inc	$0	–	-1,673	–	-0.16%	–
WBS	Exit	Webster Financial Corp	$0	–	-12,337	–	-0.17%	–
CMCSA	Exit	Comcast Corp New Cl Acl a	$0	–	-12,834	–	-0.18%	–
RTX	Exit	Raytheon Technologies Ord	$0	–	-8,759	–	-0.19%	–
ORCL	Exit	Oracle Corporation	$0	–	-9,322	–	-0.20%	–
PG	Exit	Procter & Gamble	$0	–	-6,884	–	-0.24%	–
BAC	Exit	Bank Of America Corp	$0	–	-23,850	–	-0.26%	–
JWN	Exit	Nordstrom Inc	$0	–	-38,438	–	-0.26%	–
MDT	Exit	Medtronic Inc	$0	–	-11,859	–	-0.38%	–
GOOGL	Exit	Alphabet Inc Class Acap stk cl a	$0	–	-579	–	-0.39%	–
SJM	Exit	J M Smucker Co New	$0	–	-17,636	–	-0.54%	–
SPY	Exit	S P D R TRUST Unit SRtr unit	$0	–	-5,439	–	-0.59%	–
NYCBPRU	Exit	New York Community Capital Trust Vunit 11/01/2051	$0	–	-45,464	–	-0.61%	–
ABBV	Exit	Abbvie Inc	$0	–	-23,116	–	-0.63%	–
SYK	Exit	Stryker Corp	$0	–	-9,759	–	-0.65%	–
IFF	Exit	Mckesson Corporation	$0	–	-18,813	–	-0.65%	–
SWK	Exit	Stanley Works	$0	–	-14,930	–	-0.66%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-58,493	–	-0.80%	–
AMGN	Exit	Amgen Incorporated	$0	–	-15,351	–	-0.82%	–
LOW	Exit	Lowes Companies Inc	$0	–	-17,480	–	-0.90%	–
ABT	Exit	Abbott Laboratories	$0	–	-32,008	–	-0.96%	–
MKL	Exit	Markel Corp	$0	–	-3,290	–	-0.99%	–
JNJ	Exit	Johnson & Johnson	$0	–	-27,100	–	-1.11%	–
MRK	Exit	Merck	$0	–	-70,606	–	-1.34%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-8,799	–	-1.34%	–
GD	Exit	General Dynamics Corp	$0	–	-28,736	–	-1.42%	–
SWT	Exit	Stanley Black and Decker Pfdunit 11/15/2022	$0	–	-54,969	–	-1.46%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-16,886	–	-1.47%	–
UNP	Exit	Union Pacific Corp	$0	–	-39,777	–	-1.97%	–
KO	Exit	Coca Cola Company	$0	–	-164,735	–	-2.18%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-84,188	–	-3.01%	–
FB	Exit	Facebook Inc Class Acl a	$0	–	-37,563	–	-3.22%	–
AXP	Exit	American Express Company	$0	–	-76,194	–	-3.22%	–
HD	Exit	Home Depot Inc	$0	–	-41,432	–	-3.44%	–
INTC	Exit	Intel Corp.	$0	–	-264,332	–	-3.56%	–
CSX	Exit	C S X Corp	$0	–	-474,376	–	-3.56%	–
FDX	Exit	Fedex Corporation	$0	–	-64,504	–	-3.57%	–
PEP	Exit	Pepsico Incorporated	$0	–	-94,453	–	-3.59%	–
WFC	Exit	Wells Fargo & Co New	$0	–	-320,665	–	-3.76%	–
DIS	Exit	Disney Walt Co	$0	–	-92,514	–	-3.95%	–
KMX	Exit	CarMax Inc	$0	–	-137,587	–	-4.45%	–
MSFT	Exit	Microsoft Corp	$0	–	-128,363	–	-9.14%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b new	$0	–	-150,355	–	-10.37%	–
GOOG	Exit	Alphabet Inc Class Ccap stk cl c	$0	–	-23,744	–	-15.99%	–

Q3 2021

			Value		Shares		↓ Weighting
GOOG	Sell	Alphabet Inc Class Ccap stk cl c	$63,285,000	+5.8%	23,744	-0.5%	15.99%	+10.8%
BRKB	Sell	Berkshire Hathaway Class Bcl b new	$41,038,000	-2.0%	150,355	-0.2%	10.37%	+2.7%
MSFT	Sell	Microsoft Corp	$36,188,000	+3.4%	128,363	-0.7%	9.14%	+8.2%
KMX	Sell	CarMax Inc	$17,606,000	-1.3%	137,587	-0.4%	4.45%	+3.3%
DIS	Sell	Disney Walt Co	$15,651,000	-4.5%	92,514	-0.7%	3.95%	+0.1%
WFC	New	Wells Fargo & Co New	$14,882,000	–	320,665	–	3.76%	–
PEP	Sell	Pepsico Incorporated	$14,207,000	+0.8%	94,453	-0.7%	3.59%	+5.6%
FDX	Buy	Fedex Corporation	$14,145,000	-20.4%	64,504	+8.2%	3.57%	-16.7%
CSX	Sell	C S X Corp	$14,108,000	-8.4%	474,376	-1.2%	3.56%	-4.1%
INTC	Buy	Intel Corp.	$14,084,000	-1.8%	264,332	+3.5%	3.56%	+2.8%
HD	Buy	Home Depot Inc	$13,600,000	+5.3%	41,432	+2.3%	3.44%	+10.3%
AXP	Sell	American Express Company	$12,765,000	+0.9%	76,194	-0.5%	3.22%	+5.6%
FB	Buy	Facebook Inc Class Acl a	$12,749,000	+7.5%	37,563	+10.1%	3.22%	+12.5%
AAPL	Buy	Apple Computer, Inc.	$11,913,000	+3.4%	84,188	+0.1%	3.01%	+8.3%
KO	Sell	Coca Cola Company	$8,644,000	-3.7%	164,735	-0.7%	2.18%	+0.9%
UNP	Sell	Union Pacific Corp	$7,797,000	-11.2%	39,777	-0.4%	1.97%	-7.0%
LMT	Sell	Lockheed Martin Corp	$5,827,000	-8.9%	16,886	-0.1%	1.47%	-4.5%
SWT	Sell	Stanley Black and Decker Pfdunit 11/15/2022	$5,785,000	-15.9%	54,969	-3.5%	1.46%	-11.9%
GD	Sell	General Dynamics Corp	$5,633,000	+3.6%	28,736	-0.5%	1.42%	+8.5%
REGN	Sell	Regeneron Pharms Inc	$5,325,000	+6.9%	8,799	-1.4%	1.34%	+11.9%
MRK	Sell	Merck	$5,303,000	-6.0%	70,606	-2.7%	1.34%	-1.5%
JNJ	Sell	Johnson & Johnson	$4,377,000	-3.7%	27,100	-1.8%	1.11%	+0.8%
MKL	Sell	Markel Corp	$3,932,000	-2.0%	3,290	-2.7%	0.99%	+2.6%
ABT	Buy	Abbott Laboratories	$3,781,000	+3.6%	32,008	+1.7%	0.96%	+8.5%
LOW	Buy	Lowes Companies Inc	$3,546,000	+79.3%	17,480	+71.4%	0.90%	+87.8%
AMGN	Buy	Amgen Incorporated	$3,264,000	-11.5%	15,351	+1.4%	0.82%	-7.3%
CSCO	Buy	Cisco Systems Inc	$3,184,000	+2.9%	58,493	+0.2%	0.80%	+7.8%
SWK	Sell	Stanley Works	$2,617,000	-20.7%	14,930	-7.3%	0.66%	-17.0%
IFF	New	Mckesson Corporation	$2,585,000	–	18,813	–	0.65%	–
ABBV	Buy	Abbvie Inc	$2,494,000	-2.5%	23,116	+1.8%	0.63%	+2.1%
SPY	Buy	S P D R TRUST Unit SRtr unit	$2,334,000	+2.8%	5,439	+2.6%	0.59%	+7.7%
SJM	Sell	J M Smucker Co New	$2,117,000	-8.0%	17,636	-0.7%	0.54%	-3.6%
GOOGL	Buy	Alphabet Inc Class Acap stk cl a	$1,548,000	+11.0%	579	+1.4%	0.39%	+16.4%
JWN	Sell	Nordstrom Inc	$1,017,000	-31.1%	38,438	-4.8%	0.26%	-27.8%
BAC	Sell	Bank Of America Corp	$1,012,000	-14.9%	23,850	-17.3%	0.26%	-10.8%
RTX	Buy	Raytheon Technologies Ord	$753,000	+2.7%	8,759	+2.0%	0.19%	+7.3%
CI	New	Cigna Corp	$460,000	–	2,296	–	0.12%	–
UPS	Sell	United Parcel Service Bcl b	$451,000	-27.1%	2,475	-16.8%	0.11%	-23.5%
WBA	Buy	Walgreens Boots Allianc	$443,000	-4.3%	9,420	+7.1%	0.11%	0.0%
BOMN	New	Boston Omaha Corp	$292,000	–	7,524	–	0.07%	–
CARR	Buy	Carrier Global Corp-Wi	$245,000	+10.9%	4,741	+4.5%	0.06%	+17.0%
OGN	Sell	Organon &Co Common Stock	$223,000	+2.8%	6,808	-5.2%	0.06%	+7.7%
T	Buy	A T & T Corp New	$213,000	-2.7%	7,883	+3.8%	0.05%	+1.9%
ADX	New	Adams Express Co	$205,000	–	10,333	–	0.05%	–
	Exit	American Fd Fundamental	$0	–	-2,904	–	-0.05%	–
	Exit	American Fd Washington	$0	–	-4,241	–	-0.06%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-3,525	–	-0.06%	–
	Exit	Oppenheimer Global Fundetf	$0	–	-2,707	–	-0.08%	–
CI	Exit	Cigna Corp	$0	–	-1,870	–	-0.11%	–
	Exit	Vanguard 500 Index Fundindex	$0	–	-1,505	–	-0.14%	–
	Exit	Huntington Bancshar Pfdpfd	$0	–	-50,595	–	-0.27%	–
TPRA	Exit	AT T DS REP 1 1000 PERP SRS A PRFpfd	$0	–	-50,877	–	-0.34%	–
WFCPRZ	Exit	WELLS FARGO 1000 DS REF CL A PRFpfd	$0	–	-70,699	–	-0.45%	–
WFCPRL	Exit	Wells Fargo Banpfd	$0	–	-1,621	–	-0.60%	–
QRTEP	Exit	Qurate Retail Inc 8.0 Cum Pfd Redapfd	$0	–	-24,729	–	-0.65%	–
IFFT	Exit	International Flavors&fragranc Unit Ex 091521pfd	$0	–	-54,542	–	-0.67%	–
BACPRL	Exit	Bank Of America Pfdpfd	$0	–	-3,306	–	-1.13%	–
WFCPRT	Exit	Wells Fargo & Co New	$0	–	-329,665	–	-3.60%	–

Q2 2021

			Value		Shares		↓ Weighting
GOOG	New	Alphabet Inc Class Ccap stk cl c	$59,813,000	–	23,865	–	14.43%	–
BRKB	New	Berkshire Hathaway Class Bcl b	$41,864,000	–	150,632	–	10.10%	–
MSFT	New	Microsoft Corp	$35,012,000	–	129,242	–	8.44%	–
KMX	New	CarMax Inc	$17,843,000	–	138,160	–	4.30%	–
FDX	New	Fedex Corporation	$17,780,000	–	59,599	–	4.29%	–
DIS	New	Disney Walt Co	$16,384,000	–	93,213	–	3.95%	–
CSX	New	C S X Corp	$15,405,000	–	480,201	–	3.72%	–
WFCPRT	New	Wells Fargo & Co New	$14,931,000	–	329,665	–	3.60%	–
INTC	New	Intel Corp.	$14,344,000	–	255,506	–	3.46%	–
PEP	New	Pepsico Incorporated	$14,098,000	–	95,147	–	3.40%	–
HD	New	Home Depot Inc	$12,916,000	–	40,503	–	3.12%	–
AXP	New	American Express Company	$12,657,000	–	76,604	–	3.05%	–
FB	New	Facebook Inc Class Acl a	$11,865,000	–	34,123	–	2.86%	–
AAPL	New	Apple Computer, Inc.	$11,516,000	–	84,080	–	2.78%	–
KO	New	Coca Cola Company	$8,977,000	–	165,910	–	2.16%	–
UNP	New	Union Pacific Corp	$8,783,000	–	39,934	–	2.12%	–
SWT	New	Stanley Black and Decker Pfdpfd	$6,877,000	–	56,965	–	1.66%	–
LMT	New	Lockheed Martin Corp	$6,394,000	–	16,901	–	1.54%	–
MRK	New	Merck	$5,641,000	–	72,528	–	1.36%	–
GD	New	General Dynamics Corp	$5,439,000	–	28,889	–	1.31%	–
REGN	New	Regeneron Pharms Inc	$4,983,000	–	8,921	–	1.20%	–
BACPRL	New	Bank Of America Pfdpfd	$4,681,000	–	3,306	–	1.13%	–
JNJ	New	Johnson & Johnson	$4,547,000	–	27,602	–	1.10%	–
MKL	New	Markel Corp	$4,013,000	–	3,382	–	0.97%	–
AMGN	New	Amgen Incorporated	$3,690,000	–	15,140	–	0.89%	–
ABT	New	Abbott Laboratories	$3,649,000	–	31,479	–	0.88%	–
SWK	New	Stanley Works	$3,300,000	–	16,098	–	0.80%	–
CSCO	New	Cisco Systems Inc	$3,093,000	–	58,359	–	0.75%	–
IFFT	New	International Flavors&fragranc Unit Ex 091521pfd	$2,760,000	–	54,542	–	0.67%	–
QRTEP	New	Qurate Retail Inc 8.0 Cum Pfd Redapfd	$2,677,000	–	24,729	–	0.65%	–
ABBV	New	Abbvie Inc	$2,557,000	–	22,701	–	0.62%	–
SYK	New	Stryker Corp	$2,535,000	–	9,759	–	0.61%	–
WFCPRL	New	Wells Fargo Banpfd	$2,474,000	–	1,621	–	0.60%	–
NYCBPRU	New	New York Community Capital Trust Vpfd	$2,362,000	–	45,464	–	0.57%	–
SJM	New	J M Smucker Co New	$2,301,000	–	17,761	–	0.56%	–
SPY	New	S P D R TRUST Unit SRetf	$2,270,000	–	5,302	–	0.55%	–
LOW	New	Lowes Companies Inc	$1,978,000	–	10,198	–	0.48%	–
WFCPRZ	New	WELLS FARGO 1000 DS REF CL A PRFpfd	$1,849,000	–	70,699	–	0.45%	–
JWN	New	Nordstrom Inc	$1,477,000	–	40,384	–	0.36%	–
MDT	New	Medtronic Inc	$1,472,000	–	11,859	–	0.36%	–
TPRA	New	AT T DS REP 1 1000 PERP SRS A PRFpfd	$1,394,000	–	50,877	–	0.34%	–
GOOGL	New	Alphabet Inc Class A	$1,394,000	–	571	–	0.34%	–
BAC	New	Bank Of America Corp	$1,189,000	–	28,850	–	0.29%	–
	New	Huntington Bancshar Pfdpfd	$1,138,000	–	50,595	–	0.27%	–
PG	New	Procter & Gamble	$929,000	–	6,884	–	0.22%	–
RTX	New	Raytheon Technologies Ord	$733,000	–	8,591	–	0.18%	–
CMCSA	New	Comcast Corp New Cl A	$732,000	–	12,834	–	0.18%	–
ORCL	New	Oracle Corporation	$726,000	–	9,322	–	0.18%	–
UNH	New	Unitedhealth Group Inc	$670,000	–	1,673	–	0.16%	–
WBS	New	Webster Financial Corp	$658,000	–	12,337	–	0.16%	–
UPS	New	United Parcel Service B	$619,000	–	2,975	–	0.15%	–
	New	Vanguard 500 Index Fundindex	$597,000	–	1,505	–	0.14%	–
NSC	New	Norfolk Southern Corp	$533,000	–	2,008	–	0.13%	–
GIS	New	General Mills Inc	$487,000	–	8,000	–	0.12%	–
WBA	New	Walgreens Boots Allianc	$463,000	–	8,799	–	0.11%	–
CAC	New	Camden National Corp	$444,000	–	9,300	–	0.11%	–
CI	New	Cigna Corp	$443,000	–	1,870	–	0.11%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$419,000	–	1	–	0.10%	–
WMT	New	Wal-Mart Stores Inc	$352,000	–	2,497	–	0.08%	–
	New	Oppenheimer Global Fundetf	$349,000	–	2,707	–	0.08%	–
NYT	New	New York Times Co	$348,000	–	8,000	–	0.08%	–
KEY	New	KeyCorp	$347,000	–	16,800	–	0.08%	–
B	New	Barnes Group Inc	$308,000	–	6,016	–	0.07%	–
V	New	Visa Inc Cl A	$293,000	–	1,253	–	0.07%	–
FAST	New	Fastenal Co	$265,000	–	5,100	–	0.06%	–
BMY	New	Bristol-Myers Squibb Co	$236,000	–	3,525	–	0.06%	–
	New	American Fd Washington	$236,000	–	4,241	–	0.06%	–
	New	American Fd Fundamental	$222,000	–	2,904	–	0.05%	–
CARR	New	Carrier Global Corp-Wi	$221,000	–	4,538	–	0.05%	–
DRI	New	Darden Restaurants Inc	$219,000	–	1,500	–	0.05%	–
T	New	A T & T Corp New	$219,000	–	7,593	–	0.05%	–
OGN	New	Organon &Co Common Stock	$217,000	–	7,185	–	0.05%	–

Q4 2020

			Value		Shares		↓ Weighting
KEY	Exit	KeyCorp	$0	–	-16,800	–	-0.06%	–
T	Exit	A T & T Corp New	$0	–	-7,418	–	-0.07%	–
B	Exit	Barnes Group Inc	$0	–	-6,016	–	-0.07%	–
FAST	Exit	Fastenal Co	$0	–	-5,100	–	-0.07%	–
WBS	Exit	Webster Financial Corp	$0	–	-9,337	–	-0.08%	–
V	Exit	Visa Inc Cl A	$0	–	-1,253	–	-0.08%	–
	Exit	Oppenheimer Global Fundetf	$0	–	-2,556	–	-0.08%	–
DRI	Exit	Darden Restaurants Inc	$0	–	-3,000	–	-0.10%	–
CI	Exit	Cigna Corp	$0	–	-1,870	–	-0.10%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.10%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-577	–	-0.10%	–
NYT	Exit	New York Times Co	$0	–	-8,000	–	-0.11%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-2,455	–	-0.11%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.14%	–
FB	Exit	Facebook Inc Class Acl a	$0	–	-1,710	–	-0.14%	–
	Exit	Vanguard 500 Index Fundindex	$0	–	-1,489	–	-0.15%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-13,537	–	-0.15%	–
UNH	Exit	Unitedhealth Group Inc	$0	–	-1,573	–	-0.16%	–
GIS	Exit	General Mills Inc	$0	–	-8,000	–	-0.16%	–
UPS	Exit	United Parcel Service B	$0	–	-2,975	–	-0.16%	–
JWN	Exit	Nordstrom Inc	$0	–	-43,429	–	-0.16%	–
ORCL	Exit	Oracle Corporation	$0	–	-9,322	–	-0.18%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-12,545	–	-0.18%	–
BAC	Exit	Bank Of America Corp	$0	–	-27,270	–	-0.21%	–
PG	Exit	Procter & Gamble	$0	–	-6,839	–	-0.30%	–
	Exit	Huntington Bancshar Pfdpfd	$0	–	-50,595	–	-0.37%	–
MDT	Exit	Medtronic Inc	$0	–	-11,859	–	-0.39%	–
LOW	Exit	Lowes Companies Inc	$0	–	-10,198	–	-0.54%	–
SPY	Exit	S P D R TRUST Unit SRetf	$0	–	-5,302	–	-0.56%	–
CARR	Exit	Carrier Global Corp-Wi	$0	–	-64,092	–	-0.62%	–
ABBV	Exit	Abbvie Inc	$0	–	-22,441	–	-0.62%	–
OTIS	Exit	OTIS Worldwide Corp-Wi	$0	–	-31,848	–	-0.63%	–
SYK	Exit	Stryker Corp	$0	–	-9,759	–	-0.64%	–
NYCBPRU	Exit	New York Community Capital Trust Vpfd	$0	–	-45,986	–	-0.64%	–
SJM	Exit	J M Smucker Co New	$0	–	-18,451	–	-0.68%	–
WFCPRL	Exit	Wells Fargo Banpfd	$0	–	-1,677	–	-0.71%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-57,485	–	-0.72%	–
QRTEP	Exit	Qurate Retail Inc 8.0 Cum Pfd Redapfd	$0	–	-23,810	–	-0.76%	–
SWK	Exit	Stanley Works	$0	–	-16,644	–	-0.86%	–
WFCPRZ	Exit	WELLS FARGO 1000 DS REF CL A PRFpfd	$0	–	-122,568	–	-0.98%	–
TPRA	Exit	AT T DS REP 1 1000 PERP SRS A PRFpfd	$0	–	-123,570	–	-1.05%	–
ABT	Exit	Abbott Laboratories	$0	–	-31,479	–	-1.09%	–
MKL	Exit	Markel Corp	$0	–	-3,730	–	-1.15%	–
AMGN	Exit	Amgen Incorporated	$0	–	-15,140	–	-1.22%	–
RTX	Exit	Raytheon Technologies Ord	$0	–	-67,865	–	-1.24%	–
GD	Exit	General Dynamics Corp	$0	–	-28,906	–	-1.27%	–
JNJ	Exit	Johnson & Johnson	$0	–	-27,872	–	-1.32%	–
BACPRL	Exit	Bank Of America Pfdpfd	$0	–	-3,904	–	-1.84%	–
SWT	Exit	Stanley Black and Decker Pfdpfd	$0	–	-58,958	–	-1.89%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-16,887	–	-2.05%	–
AXP	Exit	American Express Company	$0	–	-76,765	–	-2.44%	–
WFCPRT	Exit	Wells Fargo & Co New	$0	–	-330,127	–	-2.46%	–
UNP	Exit	Union Pacific Corp	$0	–	-39,934	–	-2.50%	–
KO	Exit	Coca Cola Company	$0	–	-172,306	–	-2.70%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-85,765	–	-3.15%	–
HD	Exit	Home Depot Inc	$0	–	-41,147	–	-3.63%	–
DIS	Exit	Disney Walt Co	$0	–	-95,945	–	-3.78%	–
CSX	Exit	C S X Corp	$0	–	-160,985	–	-3.97%	–
INTC	Exit	Intel Corp.	$0	–	-260,068	–	-4.27%	–
PEP	Exit	Pepsico Incorporated	$0	–	-97,359	–	-4.28%	–
KMX	Exit	CarMax Inc	$0	–	-152,660	–	-4.45%	–
FDX	Exit	Fedex Corporation	$0	–	-60,658	–	-4.84%	–
MSFT	Exit	Microsoft Corp	$0	–	-132,001	–	-8.81%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b	$0	–	-153,335	–	-10.36%	–
GOOG	Exit	Alphabet Inc Class Ccap stk cl c	$0	–	-24,197	–	-11.28%	–

Q3 2020

			Value		Shares		↓ Weighting
GOOG	Sell	Alphabet Inc Class Ccap stk cl c	$35,560,000	+1.9%	24,197	-1.9%	11.28%	-5.6%
BRKB	Sell	Berkshire Hathaway Class Bcl b	$32,651,000	+17.7%	153,335	-1.3%	10.36%	+9.1%
MSFT	Sell	Microsoft Corp	$27,764,000	+1.5%	132,001	-1.8%	8.81%	-6.0%
FDX	Sell	Fedex Corporation	$15,257,000	+74.7%	60,658	-2.6%	4.84%	+61.8%
KMX	Sell	CarMax Inc	$14,031,000	-0.2%	152,660	-2.8%	4.45%	-7.6%
PEP	Sell	Pepsico Incorporated	$13,494,000	+4.7%	97,359	-0.1%	4.28%	-3.0%
INTC	Sell	Intel Corp.	$13,466,000	-13.5%	260,068	-0.0%	4.27%	-19.8%
CSX	Sell	C S X Corp	$12,504,000	+8.3%	160,985	-2.8%	3.97%	+0.3%
DIS	Sell	Disney Walt Co	$11,905,000	+9.4%	95,945	-1.7%	3.78%	+1.3%
HD	Buy	Home Depot Inc	$11,427,000	+11.1%	41,147	+0.2%	3.63%	+2.9%
AAPL	Buy	Apple Computer, Inc.	$9,932,000	+26.4%	85,765	+298.2%	3.15%	+17.1%
KO	Sell	Coca Cola Company	$8,507,000	+10.4%	172,306	-0.1%	2.70%	+2.2%
UNP	Sell	Union Pacific Corp	$7,862,000	+13.2%	39,934	-2.8%	2.50%	+4.9%
WFCPRT	Sell	Wells Fargo & Co New	$7,764,000	-13.2%	330,127	-5.5%	2.46%	-19.6%
AXP	Sell	American Express Company	$7,696,000	+2.5%	76,765	-2.6%	2.44%	-5.0%
SWT	Sell	Stanley Black and Decker Pfdpfd	$5,949,000	+9.6%	58,958	-2.8%	1.89%	+1.6%
BACPRL	Sell	Bank Of America Pfdpfd	$5,809,000	+10.7%	3,904	-0.2%	1.84%	+2.5%
JNJ	Sell	Johnson & Johnson	$4,150,000	+1.2%	27,872	-4.4%	1.32%	-6.3%
RTX	Buy	Raytheon Technologies Ord	$3,905,000	-5.7%	67,865	+0.9%	1.24%	-12.7%
AMGN	Sell	Amgen Incorporated	$3,848,000	+7.8%	15,140	-0.0%	1.22%	-0.2%
ABT	Sell	Abbott Laboratories	$3,426,000	+18.6%	31,479	-0.4%	1.09%	+9.8%
TPRA	Sell	AT T DS REP 1 1000 PERP SRS A PRFpfd	$3,301,000	-2.0%	123,570	-7.0%	1.05%	-9.3%
WFCPRZ	Sell	WELLS FARGO 1000 DS REF CL A PRFpfd	$3,081,000	+4.4%	122,568	-3.5%	0.98%	-3.3%
SWK	Sell	Stanley Works	$2,700,000	+8.4%	16,644	-6.9%	0.86%	+0.5%
QRTEP	New	Qurate Retail Inc 8.0 Cum Pfd Redapfd	$2,402,000	–	23,810	–	0.76%	–
SJM	Sell	J M Smucker Co New	$2,131,000	+7.9%	18,451	-1.2%	0.68%	-0.1%
OTIS	Sell	OTIS Worldwide Corp-Wi	$1,988,000	+7.9%	31,848	-1.7%	0.63%	0.0%
ABBV	Sell	Abbvie Inc	$1,966,000	-11.2%	22,441	-0.5%	0.62%	-17.8%
CARR	Sell	Carrier Global Corp-Wi	$1,957,000	+34.2%	64,092	-2.3%	0.62%	+24.2%
SPY	Buy	S P D R TRUST Unit SRetf	$1,776,000	+163.9%	5,302	+143.0%	0.56%	+144.2%
MDT	Sell	Medtronic Inc	$1,232,000	-13.8%	11,859	-23.9%	0.39%	-20.2%
	Buy	Vanguard 500 Index Fundindex	$462,000	+9.0%	1,489	+0.4%	0.15%	+1.4%
CVX	Exit	Chevrontexaco Corp	$0	–	-5,930	–	-0.18%	–

Q2 2020

			Value		Shares		↓ Weighting
GOOG	New	Alphabet Inc Class Ccap stk cl c	$34,884,000	–	24,677	–	11.95%	–
BRKB	New	Berkshire Hathaway Class Bcl b	$27,733,000	–	155,357	–	9.50%	–
MSFT	New	Microsoft Corp	$27,365,000	–	134,467	–	9.38%	–
INTC	New	Intel Corp.	$15,561,000	–	260,083	–	5.33%	–
KMX	New	CarMax Inc	$14,064,000	–	157,047	–	4.82%	–
PEP	New	Pepsico Incorporated	$12,885,000	–	97,425	–	4.41%	–
CSX	New	C S X Corp	$11,547,000	–	165,565	–	3.96%	–
DIS	New	Disney Walt Co	$10,886,000	–	97,620	–	3.73%	–
HD	New	Home Depot Inc	$10,286,000	–	41,060	–	3.52%	–
WFCPRT	New	Wells Fargo & Co New	$8,942,000	–	349,319	–	3.06%	–
FDX	New	Fedex Corporation	$8,733,000	–	62,283	–	2.99%	–
AAPL	New	Apple Computer, Inc.	$7,857,000	–	21,539	–	2.69%	–
KO	New	Coca Cola Company	$7,708,000	–	172,521	–	2.64%	–
AXP	New	American Express Company	$7,505,000	–	78,833	–	2.57%	–
UNP	New	Union Pacific Corp	$6,945,000	–	41,079	–	2.38%	–
LMT	New	Lockheed Martin Corp	$6,162,000	–	16,887	–	2.11%	–
SWT	New	Stanley Black and Decker Pfdpfd	$5,426,000	–	60,638	–	1.86%	–
BACPRL	New	Bank Of America Pfdpfd	$5,248,000	–	3,910	–	1.80%	–
GD	New	General Dynamics Corp	$4,320,000	–	28,906	–	1.48%	–
RTX	New	Raytheon Technologies Ord	$4,143,000	–	67,242	–	1.42%	–
JNJ	New	Johnson & Johnson	$4,101,000	–	29,162	–	1.40%	–
AMGN	New	Amgen Incorporated	$3,571,000	–	15,141	–	1.22%	–
MKL	New	Markel Corp	$3,443,000	–	3,730	–	1.18%	–
TPRA	New	AT T DS REP 1 1000 PERP SRS A PRFpfd	$3,370,000	–	132,885	–	1.16%	–
WFCPRZ	New	WELLS FARGO 1000 DS REF CL A PRFpfd	$2,951,000	–	126,979	–	1.01%	–
ABT	New	Abbott Laboratories	$2,889,000	–	31,599	–	0.99%	–
CSCO	New	Cisco Systems Inc	$2,681,000	–	57,485	–	0.92%	–
SWK	New	Stanley Works	$2,491,000	–	17,874	–	0.85%	–
ABBV	New	Abbvie Inc	$2,215,000	–	22,561	–	0.76%	–
WFCPRL	New	Wells Fargo Banpfd	$2,175,000	–	1,677	–	0.74%	–
NYCBPRU	New	New York Community Capital Trust Vpfd	$2,055,000	–	45,986	–	0.70%	–
SJM	New	J M Smucker Co New	$1,975,000	–	18,668	–	0.68%	–
OTIS	New	OTIS Worldwide Corp-Wi	$1,843,000	–	32,407	–	0.63%	–
SYK	New	Stryker Corp	$1,758,000	–	9,759	–	0.60%	–
CARR	New	Carrier Global Corp-Wi	$1,458,000	–	65,620	–	0.50%	–
MDT	New	Medtronic Inc	$1,429,000	–	15,579	–	0.49%	–
LOW	New	Lowes Companies Inc	$1,378,000	–	10,198	–	0.47%	–
	New	Huntington Bancshar Pfdpfd	$1,062,000	–	50,595	–	0.36%	–
PG	New	Procter & Gamble	$818,000	–	6,839	–	0.28%	–
SPY	New	S P D R TRUST Unit SRetf	$673,000	–	2,182	–	0.23%	–
JWN	New	Nordstrom Inc	$673,000	–	43,429	–	0.23%	–
BAC	New	Bank Of America Corp	$648,000	–	27,270	–	0.22%	–
WBA	New	Walgreens Boots Allianc	$574,000	–	13,537	–	0.20%	–
CVX	New	Chevrontexaco Corp	$529,000	–	5,930	–	0.18%	–
ORCL	New	Oracle Corporation	$515,000	–	9,322	–	0.18%	–
GIS	New	General Mills Inc	$493,000	–	8,000	–	0.17%	–
CMCSA	New	Comcast Corp New Cl A	$489,000	–	12,545	–	0.17%	–
UNH	New	Unitedhealth Group Inc	$464,000	–	1,573	–	0.16%	–
	New	Vanguard 500 Index Fundindex	$424,000	–	1,483	–	0.14%	–
FB	New	Facebook Inc Class Acl a	$388,000	–	1,710	–	0.13%	–
REGN	New	Regeneron Pharms Inc	$360,000	–	577	–	0.12%	–
NSC	New	Norfolk Southern Corp	$353,000	–	2,008	–	0.12%	–
CI	New	Cigna Corp	$351,000	–	1,870	–	0.12%	–
NYT	New	New York Times Co	$336,000	–	8,000	–	0.12%	–
UPS	New	United Parcel Service B	$331,000	–	2,975	–	0.11%	–
WMT	New	Wal-Mart Stores Inc	$294,000	–	2,455	–	0.10%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$267,000	–	1	–	0.09%	–
WBS	New	Webster Financial Corp	$267,000	–	9,337	–	0.09%	–
	New	Oppenheimer Global Fundetf	$241,000	–	2,556	–	0.08%	–
V	New	Visa Inc Cl A	$242,000	–	1,253	–	0.08%	–
B	New	Barnes Group Inc	$238,000	–	6,016	–	0.08%	–
DRI	New	Darden Restaurants Inc	$227,000	–	3,000	–	0.08%	–
T	New	A T & T Corp New	$224,000	–	7,418	–	0.08%	–
FAST	New	Fastenal Co	$218,000	–	5,100	–	0.08%	–
KEY	New	KeyCorp	$205,000	–	16,800	–	0.07%	–

Q4 2019

			Value		Shares		↓ Weighting
REGN	Exit	Regeneron Pharms Inc	$0	–	-577	–	-0.06%	–
	Exit	Oppenheimer Global Fundetf	$0	–	-2,522	–	-0.08%	–
UNH	Exit	Unitedhealth Group Inc	$0	–	-1,048	–	-0.08%	–
CI	Exit	Cigna Corp	$0	–	-1,870	–	-0.10%	–
T	Exit	A T & T Corp New	$0	–	-7,723	–	-0.10%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-2,455	–	-0.10%	–
WBS	Exit	Webster Financial Corp	$0	–	-6,547	–	-0.10%	–
B	Exit	Barnes Group Inc	$0	–	-6,116	–	-0.11%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.11%	–
FB	Exit	Facebook Inc Class Acl a	$0	–	-1,810	–	-0.12%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.12%	–
DRI	Exit	Darden Restaurants Inc	$0	–	-3,000	–	-0.12%	–
	Exit	Vanguard 500 Index Fundindex	$0	–	-1,434	–	-0.14%	–
GIS	Exit	General Mills Inc	$0	–	-8,000	–	-0.15%	–
ORCL	Exit	Oracle Corporation	$0	–	-9,322	–	-0.18%	–
BWINA	Exit	Protective Ins Corp	$0	–	-34,478	–	-0.19%	–
CMCSA	Exit	Comcast Corp New Cl A	$0	–	-12,545	–	-0.20%	–
SPY	Exit	S P D R TRUST Unit SRetf	$0	–	-2,270	–	-0.24%	–
CVX	Exit	Chevrontexaco Corp	$0	–	-5,930	–	-0.24%	–
PG	Exit	Procter & Gamble	$0	–	-6,839	–	-0.30%	–
	Exit	Huntington Bancshar Pfdpfd	$0	–	-50,595	–	-0.37%	–
LOW	Exit	Lowes Companies Inc	$0	–	-10,198	–	-0.39%	–
SWJCL	Exit	Stanley Black & Decker Pfdpfd	$0	–	-54,220	–	-0.50%	–
JWN	Exit	Nordstrom Inc	$0	–	-44,145	–	-0.51%	–
MDT	Exit	Medtronic Inc	$0	–	-15,591	–	-0.60%	–
ABBV	Exit	Abbvie Inc	$0	–	-23,605	–	-0.63%	–
BDXA	Exit	Becton Dickinson Pfdpfd	$0	–	-32,117	–	-0.71%	–
SYK	Exit	Stryker Corp	$0	–	-10,887	–	-0.83%	–
NYCBPRU	Exit	New York Community Capital Trust Vpfd	$0	–	-48,058	–	-0.86%	–
SWK	Exit	Stanley Works	$0	–	-17,191	–	-0.86%	–
ABT	Exit	Abbott Laboratories	$0	–	-30,937	–	-0.90%	–
WFCPRL	Exit	Wells Fargo Banpfd	$0	–	-1,639	–	-0.93%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-57,485	–	-0.97%	–
SJM	Exit	J M Smucker Co New	$0	–	-26,236	–	-1.00%	–
AMGN	Exit	Amgen Incorporated	$0	–	-15,051	–	-1.05%	–
JNJ	Exit	Johnson & Johnson	$0	–	-28,430	–	-1.35%	–
LBTYK	Exit	Liberty Global Inc Ser C	$0	–	-199,221	–	-1.71%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-22,501	–	-1.82%	–
UNP	Exit	Union Pacific Corp	$0	–	-42,036	–	-2.34%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-17,258	–	-2.36%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-161,586	–	-3.04%	–
FDX	Exit	Fedex Corporation	$0	–	-61,761	–	-3.14%	–
UTX	Exit	United Technologies Corp	$0	–	-67,220	–	-3.18%	–
AXP	Exit	American Express Company	$0	–	-78,243	–	-3.18%	–
HD	Exit	Home Depot Inc	$0	–	-41,305	–	-3.35%	–
KO	Exit	Coca Cola Company	$0	–	-188,065	–	-3.65%	–
CSX	Exit	C S X Corp	$0	–	-166,031	–	-3.94%	–
DIS	Exit	Disney Walt Co	$0	–	-93,652	–	-4.34%	–
INTC	Exit	Intel Corp.	$0	–	-260,892	–	-4.72%	–
KMX	Exit	CarMax Inc	$0	–	-159,526	–	-4.85%	–
PEP	Exit	Pepsico Incorporated	$0	–	-99,209	–	-4.95%	–
WFCPRT	Exit	Wells Fargo & Co New	$0	–	-330,316	–	-5.77%	–
MSFT	Exit	Microsoft Corp	$0	–	-137,035	–	-6.73%	–
GOOG	Exit	Alphabet Inc Class Ccap stk cl c	$0	–	-23,920	–	-10.28%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b	$0	–	-153,603	–	-11.36%	–

Q3 2019

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway Class Bcl b	$31,962,000	-3.4%	153,603	-1.1%	11.36%	-3.3%
GOOG	Sell	Alphabet Inc Class Ccap stk cl c	$28,919,000	+11.3%	23,920	-0.5%	10.28%	+11.5%
MSFT	Sell	Microsoft Corp	$18,927,000	+1.7%	137,035	-1.4%	6.73%	+1.8%
WFCPRT	Buy	Wells Fargo & Co New	$16,232,000	+4.9%	330,316	+0.8%	5.77%	+5.0%
PEP	Sell	Pepsico Incorporated	$13,917,000	+6.1%	99,209	-0.8%	4.95%	+6.2%
KMX	Sell	CarMax Inc	$13,655,000	-1.7%	159,526	-0.3%	4.85%	-1.5%
INTC	Sell	Intel Corp.	$13,285,000	+5.3%	260,892	-1.0%	4.72%	+5.5%
DIS	Sell	Disney Walt Co	$12,200,000	-8.1%	93,652	-1.5%	4.34%	-8.0%
CSX	Sell	C S X Corp	$11,076,000	-14.4%	166,031	-0.7%	3.94%	-14.3%
KO	Sell	Coca Cola Company	$10,257,000	+5.3%	188,065	-1.7%	3.65%	+5.5%
HD	Sell	Home Depot Inc	$9,415,000	+8.1%	41,305	-1.4%	3.35%	+8.2%
UTX	Sell	United Technologies Corp	$8,954,000	+1.1%	67,220	-1.2%	3.18%	+1.3%
AXP	Sell	American Express Company	$8,952,000	-8.2%	78,243	-0.9%	3.18%	-8.0%
FDX	Buy	Fedex Corporation	$8,832,000	-11.2%	61,761	+2.0%	3.14%	-11.1%
WBA	Sell	Walgreens Boots Allianc	$8,559,000	-3.4%	161,586	-0.3%	3.04%	-3.2%
UNP	Sell	Union Pacific Corp	$6,571,000	-8.6%	42,036	-1.1%	2.34%	-8.5%
AAPL	Sell	Apple Computer, Inc.	$5,108,000	+11.9%	22,501	-2.4%	1.82%	+12.1%
LBTYK	Sell	Liberty Global Inc Ser C	$4,805,000	-10.6%	199,221	-1.7%	1.71%	-10.5%
JNJ	Sell	Johnson & Johnson	$3,800,000	-4.7%	28,430	-0.7%	1.35%	-4.6%
AMGN	Sell	Amgen Incorporated	$2,944,000	+5.6%	15,051	-0.5%	1.05%	+5.8%
SJM	Buy	J M Smucker Co New	$2,825,000	-5.7%	26,236	+0.9%	1.00%	-5.6%
WFCPRL	Buy	Wells Fargo Banpfd	$2,621,000	+19.4%	1,639	+1.9%	0.93%	+19.6%
SWK	Sell	Stanley Works	$2,423,000	-3.3%	17,191	-0.8%	0.86%	-3.1%
NYCBPRU	Sell	New York Community Capital Trust Vpfd	$2,410,000	+1.6%	48,058	-3.0%	0.86%	+1.9%
BDXA	Sell	Becton Dickinson Pfdpfd	$1,992,000	-9.9%	32,117	-10.1%	0.71%	-9.8%
JWN	New	Nordstrom Inc	$1,434,000	–	44,145	–	0.51%	–
SWJCL	Sell	Stanley Black & Decker Pfdpfd	$1,398,000	-4.3%	54,220	-5.8%	0.50%	-4.1%
SPY	Buy	S P D R TRUST Unit SRetf	$668,000	+5.7%	2,270	+5.2%	0.24%	+5.8%
BWINA	Sell	Protective Ins Corp	$546,000	-5.7%	34,478	-1.7%	0.19%	-5.4%
	Buy	Vanguard 500 Index Fundindex	$391,000	+1.0%	1,434	+0.4%	0.14%	+1.5%
AMZN	Exit	Amazon Com Inc	$0	–	-53	–	-0.04%	–
GOOGL	Exit	Alphabet Inc Class Acl a	$0	–	-272	–	-0.10%	–
WBC	Exit	Wabco Holdings Inc	$0	–	-3,993	–	-0.19%	–
LABL	Exit	Multi-Color Corp	$0	–	-12,504	–	-0.22%	–

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class Bcl b	$33,092,000	–	155,236	–	11.74%	–
GOOG	New	Alphabet Inc Class Ccap stk cl c	$25,975,000	–	24,031	–	9.22%	–
MSFT	New	Microsoft Corp	$18,616,000	–	138,964	–	6.61%	–
WFCPRT	New	Wells Fargo & Co New	$15,480,000	–	327,573	–	5.49%	–
KMX	New	CarMax Inc	$13,888,000	–	159,947	–	4.93%	–
DIS	New	Disney Walt Co	$13,279,000	–	95,091	–	4.71%	–
PEP	New	Pepsico Incorporated	$13,120,000	–	100,051	–	4.66%	–
CSX	New	C S X Corp	$12,941,000	–	167,256	–	4.59%	–
INTC	New	Intel Corp.	$12,612,000	–	263,458	–	4.48%	–
FDX	New	Fedex Corporation	$9,944,000	–	60,565	–	3.53%	–
AXP	New	American Express Company	$9,749,000	–	78,978	–	3.46%	–
KO	New	Coca Cola Company	$9,740,000	–	191,290	–	3.46%	–
WBA	New	Walgreens Boots Allianc	$8,861,000	–	162,089	–	3.14%	–
UTX	New	United Technologies Corp	$8,855,000	–	68,014	–	3.14%	–
HD	New	Home Depot Inc	$8,710,000	–	41,880	–	3.09%	–
UNP	New	Union Pacific Corp	$7,190,000	–	42,518	–	2.55%	–
LMT	New	Lockheed Martin Corp	$6,274,000	–	17,258	–	2.23%	–
LBTYK	New	Liberty Global Inc Ser C	$5,377,000	–	202,659	–	1.91%	–
AAPL	New	Apple Computer, Inc.	$4,563,000	–	23,054	–	1.62%	–
JNJ	New	Johnson & Johnson	$3,989,000	–	28,639	–	1.42%	–
CSCO	New	Cisco Systems Inc	$3,146,000	–	57,485	–	1.12%	–
SJM	New	J M Smucker Co New	$2,995,000	–	26,004	–	1.06%	–
AMGN	New	Amgen Incorporated	$2,787,000	–	15,126	–	0.99%	–
ABT	New	Abbott Laboratories	$2,602,000	–	30,937	–	0.92%	–
SWK	New	Stanley Works	$2,506,000	–	17,331	–	0.89%	–
NYCBPRU	New	New York Community Capital Trust Vpfd	$2,371,000	–	49,558	–	0.84%	–
SYK	New	Stryker Corp	$2,238,000	–	10,887	–	0.79%	–
BDXA	New	Becton Dickinson Pfdpfd	$2,211,000	–	35,707	–	0.78%	–
WFCPRL	New	Wells Fargo Banpfd	$2,195,000	–	1,609	–	0.78%	–
ABBV	New	Abbvie Inc	$1,717,000	–	23,605	–	0.61%	–
MDT	New	Medtronic Inc	$1,518,000	–	15,591	–	0.54%	–
SWJCL	New	Stanley Black & Decker Pfdpfd	$1,461,000	–	57,547	–	0.52%	–
	New	Huntington Bancshar Pfdpfd	$1,069,000	–	50,595	–	0.38%	–
LOW	New	Lowes Companies Inc	$1,029,000	–	10,198	–	0.36%	–
PG	New	Procter & Gamble	$750,000	–	6,839	–	0.27%	–
CVX	New	Chevrontexaco Corp	$738,000	–	5,930	–	0.26%	–
SPY	New	S P D R TRUST Unit SRetf	$632,000	–	2,157	–	0.22%	–
LABL	New	Multi-Color Corp	$625,000	–	12,504	–	0.22%	–
BWINA	New	Protective Ins Corp	$579,000	–	35,069	–	0.20%	–
WBC	New	Wabco Holdings Inc	$529,000	–	3,993	–	0.19%	–
ORCL	New	Oracle Corporation	$531,000	–	9,322	–	0.19%	–
CMCSA	New	Comcast Corp New Cl A	$530,000	–	12,545	–	0.19%	–
GIS	New	General Mills Inc	$420,000	–	8,000	–	0.15%	–
NSC	New	Norfolk Southern Corp	$400,000	–	2,008	–	0.14%	–
	New	Vanguard 500 Index Fundindex	$387,000	–	1,428	–	0.14%	–
DRI	New	Darden Restaurants Inc	$365,000	–	3,000	–	0.13%	–
FB	New	Facebook Inc Class Acl a	$349,000	–	1,810	–	0.12%	–
B	New	Barnes Group Inc	$345,000	–	6,116	–	0.12%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$318,000	–	1	–	0.11%	–
WBS	New	Webster Financial Corp	$313,000	–	6,547	–	0.11%	–
CI	New	Cigna Corp	$295,000	–	1,870	–	0.10%	–
GOOGL	New	Alphabet Inc Class Acl a	$295,000	–	272	–	0.10%	–
WMT	New	Wal-Mart Stores Inc	$271,000	–	2,455	–	0.10%	–
T	New	A T & T Corp New	$259,000	–	7,723	–	0.09%	–
UNH	New	Unitedhealth Group Inc	$256,000	–	1,048	–	0.09%	–
	New	Oppenheimer Global Fundetf	$226,000	–	2,522	–	0.08%	–
REGN	New	Regeneron Pharms Inc	$181,000	–	577	–	0.06%	–
AMZN	New	Amazon Com Inc	$100,000	–	53	–	0.04%	–

Q4 2018

			Value		Shares		↓ Weighting
BDX	Exit	Becton Dickinson&Co	$0	–	-800	–	-0.08%	–
DOW	Exit	Dowdupont Inc	$0	–	-3,643	–	-0.09%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-577	–	-0.09%	–
TXT	Exit	Textron Incorporated	$0	–	-3,200	–	-0.09%	–
FB	Exit	Facebook Inc Class Acl a	$0	–	-1,680	–	-0.11%	–
UNH	Exit	Unitedhealth Group Inc	$0	–	-1,048	–	-0.12%	–
ORCL	Exit	Oracle Corporation	$0	–	-6,094	–	-0.12%	–
GOOGL	Exit	Alphabet Inc Class Acap stk cl a	$0	–	-279	–	-0.13%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.14%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-5,399	–	-0.14%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.15%	–
CI	Exit	Cigna Corp	$0	–	-1,842	–	-0.16%	–
MMM	Exit	3m Company	$0	–	-1,964	–	-0.17%	–
TSEM	Exit	Tower Semiconductor Newf	$0	–	-20,000	–	-0.17%	–
SJM	Exit	J M Smucker Co New	$0	–	-4,702	–	-0.20%	–
RTN	Exit	Raytheon Company New	$0	–	-2,338	–	-0.20%	–
JPM	Exit	Jpmorgan Chase & Co	$0	–	-4,989	–	-0.23%	–
PG	Exit	Procter & Gamble	$0	–	-9,052	–	-0.30%	–
BWINA	Exit	Protective Ins Corp	$0	–	-35,950	–	-0.32%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-9,231	–	-0.33%	–
	Exit	Huntington Bancshar Pfdpfd	$0	–	-50,595	–	-0.41%	–
LOW	Exit	Lowes Companies Inc	$0	–	-10,198	–	-0.45%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-5,724	–	-0.53%	–
WFCPRT	Exit	Wells Fargo & Co New	$0	–	-28,983	–	-0.62%	–
SYK	Exit	Stryker Corp	$0	–	-10,476	–	-0.75%	–
UPS	Exit	United Parcel Service B	$0	–	-17,059	–	-0.82%	–
AMGN	Exit	Amgen Incorporated	$0	–	-9,935	–	-0.84%	–
ABBV	Exit	Abbvie Inc	$0	–	-25,427	–	-0.98%	–
WFCPRL	Exit	Wells Fargo Banpfd	$0	–	-1,934	–	-1.00%	–
SWJCL	Exit	Stanley Black & Decker Pfdpfd	$0	–	-99,644	–	-1.01%	–
NYCBPRU	Exit	New York Community Capital Trust Vpfd	$0	–	-52,771	–	-1.07%	–
ABT	Exit	Abbott Laboratories	$0	–	-40,738	–	-1.18%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-78,455	–	-1.52%	–
CVX	Exit	Chevrontexaco Corp	$0	–	-30,390	–	-1.57%	–
JNJ	Exit	Johnson & Johnson	$0	–	-32,048	–	-1.82%	–
LBTYK	Exit	Liberty Global Inc Ser C	$0	–	-216,388	–	-2.28%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-17,501	–	-2.48%	–
UNP	Exit	Union Pacific Corp	$0	–	-39,027	–	-2.58%	–
MDT	Exit	Medtronic Inc	$0	–	-69,547	–	-2.73%	–
FDX	Exit	Fedex Corporation	$0	–	-29,374	–	-2.75%	–
MCK	Exit	Mckesson Corporation	$0	–	-54,649	–	-3.05%	–
HD	Exit	Home Depot Inc	$0	–	-42,101	–	-3.36%	–
AXP	Exit	American Express Company	$0	–	-77,791	–	-3.38%	–
KO	Exit	Coca Cola Company	$0	–	-189,292	–	-3.58%	–
UTX	Exit	United Technologies Corp	$0	–	-67,399	–	-3.74%	–
PEP	Exit	Pepsico Incorporated	$0	–	-96,667	–	-4.26%	–
DIS	Exit	Disney Walt Co	$0	–	-91,406	–	-4.36%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-155,144	–	-4.66%	–
CSX	Exit	C S X Corp	$0	–	-164,522	–	-5.01%	–
INTC	Exit	Intel Corp.	$0	–	-267,535	–	-5.08%	–
MSFT	Exit	Microsoft Corp	$0	–	-123,943	–	-5.68%	–
GOOG	Exit	Alphabet Inc Class Ccap stk cl c	$0	–	-21,056	–	-9.78%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b	$0	–	-146,132	–	-13.34%	–

Q3 2018

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway Class Bcl b	$32,698,000	+24.7%	146,132	+4.0%	13.34%	+11.6%
GOOG	Buy	Alphabet Inc Class Ccap stk cl c	$23,979,000	+36.8%	21,056	+35.5%	9.78%	+22.4%
MSFT	Buy	Microsoft Corp	$13,914,000	+13.9%	123,943	+0.1%	5.68%	+1.9%
INTC	Sell	Intel Corp.	$12,454,000	-6.6%	267,535	-0.3%	5.08%	-16.5%
CSX	Sell	C S X Corp	$12,275,000	-22.3%	164,522	-33.5%	5.01%	-30.4%
WBA	Buy	Walgreens Boots Allianc	$11,412,000	+26.0%	155,144	+2.8%	4.66%	+12.7%
DIS	Buy	Disney Walt Co	$10,684,000	+16.1%	91,406	+4.1%	4.36%	+3.8%
PEP	Sell	Pepsico Incorporated	$10,452,000	-0.7%	96,667	-0.0%	4.26%	-11.1%
UTX	Sell	United Technologies Corp	$9,158,000	+8.6%	67,399	-0.1%	3.74%	-2.8%
KO	Sell	Coca Cola Company	$8,781,000	+5.3%	189,292	-0.4%	3.58%	-5.8%
AXP	Sell	American Express Company	$8,297,000	+8.4%	77,791	-0.4%	3.38%	-3.0%
HD	Sell	Home Depot Inc	$8,241,000	-0.1%	42,101	-0.4%	3.36%	-10.6%
MCK	Buy	Mckesson Corporation	$7,478,000	+2.9%	54,649	+0.4%	3.05%	-7.9%
FDX	New	Fedex Corporation	$6,749,000	–	29,374	–	2.75%	–
MDT	Sell	Medtronic Inc	$6,690,000	+11.6%	69,547	-0.6%	2.73%	-0.1%
UNP	Sell	Union Pacific Corp	$6,338,000	+14.2%	39,027	-0.3%	2.58%	+2.2%
LMT	Sell	Lockheed Martin Corp	$6,078,000	+15.0%	17,501	-2.2%	2.48%	+2.9%
LBTYK	Buy	Liberty Global Inc Ser C	$5,581,000	+1.1%	216,388	+4.3%	2.28%	-9.6%
JNJ	Sell	Johnson & Johnson	$4,461,000	-33.6%	32,048	-42.2%	1.82%	-40.6%
CVX	Sell	Chevrontexaco Corp	$3,854,000	-44.1%	30,390	-44.3%	1.57%	-50.0%
CSCO	Sell	Cisco Systems Inc	$3,726,000	+10.0%	78,455	-0.3%	1.52%	-1.6%
NYCBPRU	Sell	New York Community Capital Trust Vpfd	$2,612,000	-3.5%	52,771	-1.9%	1.07%	-13.7%
SWJCL	New	Stanley Black & Decker Pfdpfd	$2,465,000	–	99,644	–	1.01%	–
WFCPRL	Sell	Wells Fargo Banpfd	$2,447,000	-0.1%	1,934	-0.1%	1.00%	-10.7%
ABBV	Buy	Abbvie Inc	$2,405,000	+3.7%	25,427	+1.6%	0.98%	-7.2%
UPS	Sell	United Parcel Service B	$2,012,000	+10.1%	17,059	-0.8%	0.82%	-1.4%
WFCPRT	Buy	Wells Fargo & Co New	$1,523,000	+506.8%	28,983	+4.3%	0.62%	+444.7%
AAPL	Buy	Apple Computer, Inc.	$1,299,000	+23.1%	5,724	+0.5%	0.53%	+10.2%
	New	Huntington Bancshar Pfdpfd	$1,012,000	–	50,595	–	0.41%	–
XOM	Sell	Exxon Mobil Corporation	$799,000	+4.4%	9,231	-0.2%	0.33%	-6.6%
BWINA	Sell	Protective Ins Corp	$777,000	-23.7%	35,950	-15.7%	0.32%	-31.7%
PG	Sell	Procter & Gamble	$744,000	+5.2%	9,052	-0.1%	0.30%	-5.9%
JPM	Sell	Jpmorgan Chase & Co	$571,000	+9.8%	4,989	-0.1%	0.23%	-1.7%
SJM	Buy	J M Smucker Co New	$479,000	+89.3%	4,702	+99.6%	0.20%	+69.6%
CI	Sell	Cigna Corp	$394,000	+2.3%	1,842	-18.8%	0.16%	-8.5%
BMY	Sell	Bristol-Myers Squibb Co	$341,000	+14.0%	5,399	-0.1%	0.14%	+2.2%
ORCL	Sell	Oracle Corporation	$298,000	+10.8%	6,094	-0.1%	0.12%	-0.8%
REGN	New	Regeneron Pharms Inc	$226,000	–	577	–	0.09%	–
BDX	New	Becton Dickinson&Co	$200,000	–	800	–	0.08%	–
T	Exit	A T & T Corp New	$0	–	-11,360	–	-0.17%	–
IBM	Exit	Intl Business Machines	$0	–	-5,015	–	-0.32%	–

Q2 2018

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class Bcl b new	$26,216,000	–	140,454	–	11.95%	–
GOOG	New	Alphabet Inc Class Ccap stk cl c	$17,526,000	–	15,535	–	7.99%	–
CSX	New	C S X Corp	$15,788,000	–	247,533	–	7.20%	–
INTC	New	Intel Corp.	$13,338,000	–	268,320	–	6.08%	–
MSFT	New	Microsoft Corp	$12,216,000	–	123,881	–	5.57%	–
PEP	New	Pepsico Incorporated	$10,525,000	–	96,677	–	4.80%	–
DIS	New	Disney Walt Co	$9,204,000	–	87,813	–	4.20%	–
WBA	New	Walgreens Boots Allianc	$9,057,000	–	150,905	–	4.13%	–
UTX	New	United Technologies Corp	$8,432,000	–	67,438	–	3.84%	–
KO	New	Coca Cola Company	$8,336,000	–	190,048	–	3.80%	–
HD	New	Home Depot Inc	$8,246,000	–	42,268	–	3.76%	–
AXP	New	American Express Company	$7,653,000	–	78,093	–	3.49%	–
MCK	New	Mckesson Corporation	$7,264,000	–	54,456	–	3.31%	–
CVX	New	Chevrontexaco Corp	$6,896,000	–	54,546	–	3.14%	–
JNJ	New	Johnson & Johnson	$6,723,000	–	55,403	–	3.06%	–
MDT	New	Medtronic Inc	$5,992,000	–	69,989	–	2.73%	–
UNP	New	Union Pacific Corp	$5,549,000	–	39,163	–	2.53%	–
LBTYK	New	Liberty Global Inc Ser C	$5,522,000	–	207,533	–	2.52%	–
LMT	New	Lockheed Martin Corp	$5,286,000	–	17,891	–	2.41%	–
CSCO	New	Cisco Systems Inc	$3,387,000	–	78,705	–	1.54%	–
NYCBPRU	New	New York Cmty Bkunit 11/01/2051	$2,708,000	–	53,774	–	1.24%	–
ABT	New	Abbott Laboratories	$2,485,000	–	40,738	–	1.13%	–
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$2,450,000	–	1,935	–	1.12%	–
ABBV	New	Abbvie Inc	$2,319,000	–	25,027	–	1.06%	–
AMGN	New	Amgen Incorporated	$1,834,000	–	9,935	–	0.84%	–
UPS	New	United Parcel Service B	$1,827,000	–	17,199	–	0.83%	–
SYK	New	Stryker Corp	$1,769,000	–	10,476	–	0.81%	–
AAPL	New	Apple Computer, Inc.	$1,055,000	–	5,697	–	0.48%	–
BWINA	New	Baldwin & Lyons Class A	$1,018,000	–	42,648	–	0.46%	–
LOW	New	Lowes Companies Inc	$975,000	–	10,198	–	0.44%	–
XOM	New	Exxon Mobil Corporation	$765,000	–	9,245	–	0.35%	–
PG	New	Procter & Gamble	$707,000	–	9,057	–	0.32%	–
IBM	New	Intl Business Machines	$701,000	–	5,015	–	0.32%	–
JPM	New	Jpmorgan Chase & Co	$520,000	–	4,992	–	0.24%	–
RTN	New	Raytheon Company New	$452,000	–	2,338	–	0.21%	–
TSEM	New	Tower Semiconductor Newf	$440,000	–	20,000	–	0.20%	–
CI	New	Cigna Corp	$385,000	–	2,268	–	0.18%	–
MMM	New	3m Company	$386,000	–	1,964	–	0.18%	–
T	New	A T & T Corp New	$365,000	–	11,360	–	0.17%	–
FB	New	Facebook Inc Class Acl a	$326,000	–	1,680	–	0.15%	–
GOOGL	New	Alphabet Inc Class Acap stk cl a	$315,000	–	279	–	0.14%	–
NSC	New	Norfolk Southern Corp	$303,000	–	2,008	–	0.14%	–
BMY	New	Bristol-Myers Squibb Co	$299,000	–	5,403	–	0.14%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$282,000	–	1	–	0.13%	–
ORCL	New	Oracle Corporation	$269,000	–	6,098	–	0.12%	–
UNH	New	Unitedhealth Group Inc	$257,000	–	1,048	–	0.12%	–
SJM	New	J M Smucker Co New	$253,000	–	2,356	–	0.12%	–
WFCPRT	New	Wells Fargo & Co New	$251,000	–	27,781	–	0.11%	–
DOW	New	Dowdupont Inc	$240,000	–	3,643	–	0.11%	–
TXT	New	Textron Incorporated	$211,000	–	3,200	–	0.10%	–

Q4 2017

			Value		Shares		↓ Weighting
UNH	Exit	Unitedhealth Group Inc	$0	–	-1,048	–	-0.10%	–
DOW	Exit	Dowdupont Inc	$0	–	-3,272	–	-0.11%	–
HDSN	Exit	Hudson Technologies Inc	$0	–	-30,000	–	-0.11%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-577	–	-0.12%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-4,123	–	-0.12%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.13%	–
GOOGL	Exit	Alphabet Class Acap stk cl a	$0	–	-279	–	-0.13%	–
BRKA	Exit	Berkshire Htwy Clacl a	$0	–	-1	–	-0.13%	–
ORCL	Exit	Oracle Corporation	$0	–	-5,724	–	-0.13%	–
FB	Exit	Facebook Inc Class Acl a	$0	–	-1,680	–	-0.14%	–
GE	Exit	General Electric Company	$0	–	-14,093	–	-0.16%	–
JPM	Exit	Jpmorgan Chase & Co	$0	–	-3,637	–	-0.16%	–
TSEM	Exit	Tower Semiconductor Newf	$0	–	-11,500	–	-0.17%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-4,339	–	-0.17%	–
CEF	Exit	Central Fd Cda Ltd Clacl a	$0	–	-30,190	–	-0.18%	–
MMM	Exit	3m Company	$0	–	-1,939	–	-0.19%	–
CI	Exit	Cigna Corp	$0	–	-2,268	–	-0.20%	–
RTN	Exit	Raytheon Company New	$0	–	-2,338	–	-0.21%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-4,928	–	-0.36%	–
LOW	Exit	Lowes Companies Inc	$0	–	-10,353	–	-0.39%	–
BWINA	Exit	Baldwin & Lyons Class A	$0	–	-43,690	–	-0.48%	–
IBM	Exit	Intl Business Machines	$0	–	-8,123	–	-0.56%	–
PG	Exit	Procter & Gamble	$0	–	-15,071	–	-0.65%	–
AMGN	Exit	Amgen Incorporated	$0	–	-9,935	–	-0.88%	–
UPS	Exit	United Parcel Service B	$0	–	-15,509	–	-0.89%	–
ABT	Exit	Abbott Laboratories	$0	–	-42,258	–	-1.07%	–
MCD	Exit	Mc Donalds Corp	$0	–	-14,517	–	-1.08%	–
WFCPRL	Exit	Wells Fargo Banperp pfd cnv a	$0	–	-1,776	–	-1.11%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-79,615	–	-1.27%	–
NYCBPRU	Exit	New York Cmty Bkunit 11/01/2051	$0	–	-53,268	–	-1.29%	–
ABBV	Exit	Abbvie Inc	$0	–	-34,258	–	-1.45%	–
BDXA	Exit	Becton Dickinson	$0	–	-59,917	–	-1.58%	–
SYK	Exit	Stryker Corp	$0	–	-25,440	–	-1.72%	–
UNP	Exit	Union Pacific Corp	$0	–	-39,446	–	-2.18%	–
MDT	Exit	Medtronic Inc	$0	–	-69,809	–	-2.58%	–
DVA	Exit	Davita Healthcare Ptnr	$0	–	-95,939	–	-2.71%	–
MCK	Exit	Mckesson Corporation	$0	–	-39,592	–	-2.89%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-19,790	–	-2.92%	–
CVX	Exit	Chevrontexaco Corp	$0	–	-55,541	–	-3.10%	–
AXP	Exit	American Express Company	$0	–	-79,125	–	-3.40%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-93,398	–	-3.43%	–
HD	Exit	Home Depot Inc	$0	–	-44,166	–	-3.44%	–
DIS	Exit	Disney Walt Co	$0	–	-73,611	–	-3.45%	–
JNJ	Exit	Johnson & Johnson	$0	–	-56,017	–	-3.46%	–
UTX	Exit	United Technologies Corp	$0	–	-68,057	–	-3.76%	–
KO	Exit	Coca Cola Company	$0	–	-191,058	–	-4.09%	–
GOOG	Exit	Alphabet Class Ccap stk cl c	$0	–	-9,468	–	-4.32%	–
MSFT	Exit	Microsoft Corp	$0	–	-123,713	–	-4.38%	–
T	Exit	A T & T Corp New	$0	–	-245,546	–	-4.57%	–
INTC	Exit	Intel Corp.	$0	–	-267,780	–	-4.85%	–
PEP	Exit	Pepsico Incorporated	$0	–	-97,998	–	-5.19%	–
CSX	Exit	C S X Corp	$0	–	-257,858	–	-6.65%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b new	$0	–	-128,107	–	-11.17%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway Class Bcl b new	$23,485,000	+9.0%	128,107	+1.5%	11.17%	+3.8%
CSX	Sell	C S X Corp	$13,991,000	-0.9%	257,858	-0.6%	6.65%	-5.6%
PEP	Sell	Pepsico Incorporated	$10,920,000	-4.3%	97,998	-0.9%	5.19%	-8.8%
INTC	Buy	Intel Corp.	$10,197,000	+13.5%	267,780	+2.2%	4.85%	+8.1%
T	Buy	A T & T Corp New	$9,618,000	+8.6%	245,546	+5.7%	4.57%	+3.5%
MSFT	Sell	Microsoft Corp	$9,215,000	+7.5%	123,713	-1.0%	4.38%	+2.4%
GOOG	Buy	Alphabet Class Ccap stk cl c	$9,081,000	+193.2%	9,468	+1868.4%	4.32%	+179.4%
KO	Sell	Coca Cola Company	$8,600,000	-0.3%	191,058	-1.2%	4.09%	-5.0%
UTX	Sell	United Technologies Corp	$7,900,000	-5.7%	68,057	-1.0%	3.76%	-10.1%
DIS	Buy	Disney Walt Co	$7,256,000	-7.2%	73,611	+0.0%	3.45%	-11.6%
HD	Sell	Home Depot Inc	$7,224,000	+0.8%	44,166	-5.5%	3.44%	-4.0%
WBA	Buy	Walgreens Boots Allianc	$7,212,000	+19.5%	93,398	+29.7%	3.43%	+13.8%
AXP	Buy	American Express Company	$7,158,000	+7.5%	79,125	+1.2%	3.40%	+2.4%
CVX	Sell	Chevrontexaco Corp	$6,526,000	+11.8%	55,541	-0.8%	3.10%	+6.5%
LMT	Sell	Lockheed Martin Corp	$6,141,000	-8.3%	19,790	-18.3%	2.92%	-12.7%
MCK	Buy	Mckesson Corporation	$6,082,000	-5.3%	39,592	+6.0%	2.89%	-9.8%
DVA	Buy	Davita Healthcare Ptnr	$5,698,000	-6.2%	95,939	+2.3%	2.71%	-10.6%
MDT	Sell	Medtronic Inc	$5,429,000	-12.4%	69,809	-0.7%	2.58%	-16.5%
UNP	Buy	Union Pacific Corp	$4,575,000	+7.2%	39,446	+2.8%	2.18%	+2.1%
SYK	Sell	Stryker Corp	$3,613,000	-11.9%	25,440	-15.2%	1.72%	-16.1%
BDXA	New	Becton Dickinson	$3,311,000	–	59,917	–	1.58%	–
ABBV	Sell	Abbvie Inc	$3,044,000	+21.9%	34,258	-0.5%	1.45%	+16.1%
NYCBPRU	New	New York Cmty Bkunit 11/01/2051	$2,709,000	–	53,268	–	1.29%	–
CSCO	Sell	Cisco Systems Inc	$2,677,000	+7.4%	79,615	-0.4%	1.27%	+2.3%
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$2,335,000	–	1,776	–	1.11%	–
MCD	Sell	Mc Donalds Corp	$2,275,000	-19.6%	14,517	-22.1%	1.08%	-23.4%
ABT	Buy	Abbott Laboratories	$2,255,000	+9.8%	42,258	+0.0%	1.07%	+4.6%
UPS	Buy	United Parcel Service B	$1,862,000	+6.4%	15,509	+26.7%	0.89%	+1.4%
AMGN	Sell	Amgen Incorporated	$1,852,000	+1.6%	9,935	-6.1%	0.88%	-3.2%
PG	Sell	Procter & Gamble	$1,371,000	+0.6%	15,071	-3.6%	0.65%	-4.1%
IBM	Sell	Intl Business Machines	$1,178,000	-79.5%	8,123	-78.4%	0.56%	-80.5%
BWINA	Sell	Baldwin & Lyons Class A	$1,003,000	-4.1%	43,690	-2.2%	0.48%	-8.6%
AAPL	Buy	Apple Computer, Inc.	$759,000	+9.8%	4,928	+2.7%	0.36%	+4.6%
RTN	Buy	Raytheon Company New	$436,000	+15.3%	2,338	+0.5%	0.21%	+9.5%
CEF	Sell	Central Fd Cda Ltd Clacl a	$383,000	-7.9%	30,190	-10.6%	0.18%	-12.5%
XOM	Sell	Exxon Mobil Corporation	$356,000	+12.7%	4,339	-77.3%	0.17%	+7.0%
JPM	Buy	Jpmorgan Chase & Co	$347,000	+4.5%	3,637	+0.6%	0.16%	-0.6%
GE	Sell	General Electric Company	$341,000	-31.1%	14,093	-23.0%	0.16%	-34.4%
FB	Sell	Facebook Inc Class Acl a	$287,000	+5.5%	1,680	-6.7%	0.14%	0.0%
BMY	Buy	Bristol-Myers Squibb Co	$263,000	+14.3%	4,123	+0.6%	0.12%	+8.7%
REGN	Sell	Regeneron Pharms Inc	$258,000	-22.5%	577	-14.8%	0.12%	-25.9%
DOW	Buy	Dowdupont Inc	$227,000	+10.2%	3,272	+0.6%	0.11%	+4.9%
UNH	Sell	Unitedhealth Group Inc	$205,000	0.0%	1,048	-5.4%	0.10%	-4.9%
EPD	Exit	Enterprise Prd Prtnrs Lp	$0	–	-7,057	–	-0.10%	–
BHI	Exit	Baker Hughes Inc	$0	–	-3,717	–	-0.10%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-20,034	–	-0.12%	–
HAL	Exit	Halliburton Co Hldg Co	$0	–	-10,220	–	-0.22%	–
WFCPRL	Exit	Wells Fargo Banperp pfd cnv a	$0	–	-1,776	–	-1.16%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class Bcl b new	$21,554,000	–	126,266	–	10.76%	–
CSX	New	C S X Corp	$14,122,000	–	259,418	–	7.05%	–
PEP	New	Pepsico Incorporated	$11,405,000	–	98,934	–	5.69%	–
INTC	New	Intel Corp.	$8,986,000	–	262,093	–	4.49%	–
T	New	A T & T Corp New	$8,855,000	–	232,258	–	4.42%	–
KO	New	Coca Cola Company	$8,625,000	–	193,353	–	4.31%	–
MSFT	New	Microsoft Corp	$8,574,000	–	125,023	–	4.28%	–
UTX	New	United Technologies Corp	$8,375,000	–	68,725	–	4.18%	–
DIS	New	Disney Walt Co	$7,818,000	–	73,581	–	3.90%	–
JNJ	New	Johnson & Johnson	$7,411,000	–	56,017	–	3.70%	–
HD	New	Home Depot Inc	$7,169,000	–	46,733	–	3.58%	–
LMT	New	Lockheed Martin Corp	$6,697,000	–	24,222	–	3.34%	–
AXP	New	American Express Company	$6,657,000	–	78,161	–	3.32%	–
MCK	New	Mckesson Corporation	$6,424,000	–	37,352	–	3.21%	–
MDT	New	Medtronic Inc	$6,195,000	–	70,289	–	3.09%	–
DVA	New	Davita Healthcare Ptnr	$6,076,000	–	93,824	–	3.03%	–
WBA	New	Walgreens Boots Allianc	$6,035,000	–	71,991	–	3.01%	–
CVX	New	Chevrontexaco Corp	$5,837,000	–	55,997	–	2.91%	–
IBM	New	Intl Business Machines	$5,755,000	–	37,597	–	2.87%	–
UNP	New	Union Pacific Corp	$4,269,000	–	38,379	–	2.13%	–
SYK	New	Stryker Corp	$4,101,000	–	29,999	–	2.05%	–
GOOG	New	Alphabet Class Ccap stk cl c	$3,097,000	–	481	–	1.55%	–
MCD	New	Mc Donalds Corp	$2,828,000	–	18,636	–	1.41%	–
ABBV	New	Abbvie Inc	$2,497,000	–	34,437	–	1.25%	–
CSCO	New	Cisco Systems Inc	$2,492,000	–	79,915	–	1.24%	–
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$2,329,000	–	1,776	–	1.16%	–
ABT	New	Abbott Laboratories	$2,054,000	–	42,256	–	1.02%	–
AMGN	New	Amgen Incorporated	$1,822,000	–	10,580	–	0.91%	–
UPS	New	United Parcel Service B	$1,750,000	–	12,240	–	0.87%	–
PG	New	Procter & Gamble	$1,363,000	–	15,634	–	0.68%	–
BWINA	New	Baldwin & Lyons Class A	$1,046,000	–	44,690	–	0.52%	–
LOW	New	Lowes Companies Inc	$803,000	–	10,353	–	0.40%	–
AAPL	New	Apple Computer, Inc.	$691,000	–	4,798	–	0.34%	–
GE	New	General Electric Company	$495,000	–	18,304	–	0.25%	–
HAL	New	Halliburton Co Hldg Co	$430,000	–	10,220	–	0.22%	–
CEF	New	Central Fd Cda Ltd Clacl a	$416,000	–	33,759	–	0.21%	–
MMM	New	3m Company	$404,000	–	1,939	–	0.20%	–
CI	New	Cigna Corp	$380,000	–	2,268	–	0.19%	–
RTN	New	Raytheon Company New	$378,000	–	2,327	–	0.19%	–
JPM	New	Jpmorgan Chase & Co	$332,000	–	3,617	–	0.17%	–
REGN	New	Regeneron Pharms Inc	$333,000	–	677	–	0.17%	–
XOM	New	Exxon Mobil Corporation	$316,000	–	19,094	–	0.16%	–
ORCL	New	Oracle Corporation	$287,000	–	5,724	–	0.14%	–
TSEM	New	Tower Semiconductor Newf	$274,000	–	11,500	–	0.14%	–
FB	New	Facebook Inc Class Acl a	$272,000	–	1,800	–	0.14%	–
GOOGL	New	Alphabet Class Acap stk cl a	$259,000	–	279	–	0.13%	–
BRKA	New	Berkshire Htwy Clacl a	$255,000	–	1	–	0.13%	–
HDSN	New	Hudson Technologies Inc	$254,000	–	30,000	–	0.13%	–
NSC	New	Norfolk Southern Corp	$244,000	–	2,008	–	0.12%	–
WMT	New	Wal-Mart Stores Inc	$237,000	–	20,034	–	0.12%	–
BMY	New	Bristol-Myers Squibb Co	$230,000	–	4,097	–	0.12%	–
DOW	New	Dow Chemical Company	$206,000	–	3,253	–	0.10%	–
UNH	New	Unitedhealth Group Inc	$205,000	–	1,108	–	0.10%	–
BHI	New	Baker Hughes Inc	$203,000	–	3,717	–	0.10%	–
EPD	New	Enterprise Prd Prtnrs Lp	$191,000	–	7,057	–	0.10%	–

Q4 2016

			Value		Shares		↓ Weighting
JCI	Exit	Johnson Controls Inc	$0	–	-3,740	–	-0.10%	–
TSEM	Exit	Tower Semiconductor	$0	–	-11,500	–	-0.10%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.11%	–
EPD	Exit	Enterprise Prd Prtnrs Lp	$0	–	-7,057	–	-0.11%	–
HDSN	Exit	Hudson Technologies Inc	$0	–	-30,000	–	-0.11%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.12%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-4,040	–	-0.12%	–
GOOGL	Exit	Alphabet Inccap stk cl a	$0	–	-279	–	-0.12%	–
ORCL	Exit	Oracle Corp	$0	–	-5,720	–	-0.13%	–
FB	Exit	Facebookcl a	$0	–	-1,800	–	-0.13%	–
BHI	Exit	Baker Hughes Inc	$0	–	-4,762	–	-0.13%	–
JPM	Exit	Jpmorgan Chase & Co	$0	–	-3,862	–	-0.14%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-677	–	-0.15%	–
CI	Exit	Cigna Corp	$0	–	-2,268	–	-0.17%	–
RTN	Exit	Raytheon Company New	$0	–	-2,304	–	-0.18%	–
MMM	Exit	3m Company	$0	–	-1,924	–	-0.19%	–
	Exit	Petrochina Co Adrsponsored adr	$0	–	-5,370	–	-0.20%	–
GOOG	Exit	Alphabet Inccap stk cl c	$0	–	-469	–	-0.20%	–
CEF	Exit	Central Fd Cda Ltd Clacl a	$0	–	-33,759	–	-0.26%	–
HAL	Exit	Halliburton Co Hldg Co	$0	–	-11,147	–	-0.28%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-4,692	–	-0.30%	–
GE	Exit	General Electric Company	$0	–	-18,255	–	-0.30%	–
LOW	Exit	Lowes Companies Inc	$0	–	-10,353	–	-0.42%	–
BWINA	Exit	Baldwin & Lyons Class A	$0	–	-44,690	–	-0.61%	–
UPS	Exit	United Parcel Service B	$0	–	-12,165	–	-0.74%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-18,066	–	-0.80%	–
PG	Exit	Procter & Gamble	$0	–	-16,400	–	-0.82%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-21,672	–	-0.87%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-19,502	–	-0.95%	–
AMGN	Exit	Amgen Incorporated	$0	–	-10,580	–	-0.99%	–
ABT	Exit	Abbott Laboratories	$0	–	-42,252	–	-1.00%	–
MCD	Exit	Mc Donalds Corp	$0	–	-18,619	–	-1.20%	–
ABBV	Exit	Abbvie Inc	$0	–	-34,317	–	-1.21%	–
WFCPRL	Exit	Wells Fargo Banperp pfd cnv a	$0	–	-1,776	–	-1.30%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-79,915	–	-1.42%	–
SYK	Exit	Stryker Corp	$0	–	-30,209	–	-1.97%	–
UNP	Exit	Union Pacific Corp	$0	–	-37,884	–	-2.07%	–
COP	Exit	Conocophillips	$0	–	-93,944	–	-2.28%	–
AXP	Exit	American Express Company	$0	–	-77,049	–	-2.76%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-70,811	–	-3.19%	–
CVX	Exit	Chevrontexaco Corp	$0	–	-56,183	–	-3.23%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-25,156	–	-3.37%	–
IBM	Exit	Intl Business Machines	$0	–	-37,992	–	-3.38%	–
DVA	Exit	Davita Healthcare Ptnr	$0	–	-91,732	–	-3.39%	–
HD	Exit	Home Depot Inc	$0	–	-47,398	–	-3.41%	–
MDT	Exit	Medtronic PLC	$0	–	-70,864	–	-3.42%	–
JNJ	Exit	Johnson & Johnson	$0	–	-55,997	–	-3.70%	–
DIS	Exit	Disney Walt Co	$0	–	-73,361	–	-3.81%	–
UTX	Exit	United Technologies Corp	$0	–	-68,458	–	-3.89%	–
MSFT	Exit	Microsoft Corp	$0	–	-125,253	–	-4.03%	–
CSX	Exit	C S X Corp	$0	–	-260,388	–	-4.44%	–
KO	Exit	Coca Cola Company	$0	–	-194,291	–	-4.60%	–
T	Exit	A T & T Corp New	$0	–	-231,688	–	-5.26%	–
INTC	Exit	Intel Corp.	$0	–	-262,178	–	-5.53%	–
PEP	Exit	Pepsico Incorporated	$0	–	-99,227	–	-6.04%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b new	$0	–	-126,827	–	-10.24%	–

Q3 2016

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway Class Bcl b new	$18,323,000	-1.2%	126,827	-1.0%	10.24%	-1.8%
PEP	Sell	Pepsico Incorporated	$10,793,000	+2.0%	99,227	-0.7%	6.04%	+1.4%
T	Sell	A T & T Corp New	$9,409,000	-8.8%	231,688	-2.9%	5.26%	-9.3%
KO	Sell	Coca Cola Company	$8,222,000	-11.8%	194,291	-5.5%	4.60%	-12.3%
MSFT	Sell	Microsoft Corp	$7,215,000	+12.2%	125,253	-0.4%	4.03%	+11.5%
UTX	Sell	United Technologies Corp	$6,955,000	-2.6%	68,458	-1.6%	3.89%	-3.1%
DIS	Buy	Disney Walt Co	$6,812,000	+30.4%	73,361	+37.4%	3.81%	+29.6%
JNJ	Sell	Johnson & Johnson	$6,615,000	-4.2%	55,997	-1.6%	3.70%	-4.8%
HD	Sell	Home Depot Inc	$6,099,000	+0.3%	47,398	-0.4%	3.41%	-0.3%
DVA	Buy	Davita Healthcare Ptnr	$6,061,000	-4.9%	91,732	+11.3%	3.39%	-5.4%
IBM	Sell	Intl Business Machines	$6,035,000	+3.1%	37,992	-1.5%	3.38%	+2.5%
LMT	Sell	Lockheed Martin Corp	$6,030,000	-4.7%	25,156	-1.3%	3.37%	-5.3%
CVX	Sell	Chevrontexaco Corp	$5,782,000	-4.4%	56,183	-2.6%	3.23%	-5.0%
WBA	Buy	Walgreens Boots Allianc	$5,709,000	+6.3%	70,811	+9.8%	3.19%	+5.7%
AXP	Buy	American Express Company	$4,934,000	+93.6%	77,049	+83.7%	2.76%	+92.4%
MCD	Sell	Mc Donalds Corp	$2,148,000	-12.8%	18,619	-9.0%	1.20%	-13.3%
ABT	Sell	Abbott Laboratories	$1,787,000	+6.5%	42,252	-1.0%	1.00%	+5.8%
XOM	Buy	Exxon Mobil Corporation	$1,702,000	-6.8%	19,502	+0.1%	0.95%	-7.4%
WMT	Sell	Wal-Mart Stores Inc	$1,563,000	-3.9%	21,672	-2.7%	0.87%	-4.5%
PG	Sell	Procter & Gamble	$1,472,000	-71.1%	16,400	-72.8%	0.82%	-71.3%
GILD	Sell	Gilead Sciences Inc	$1,429,000	-14.0%	18,066	-9.3%	0.80%	-14.5%
BWINA	Sell	Baldwin & Lyons Class A	$1,088,000	-9.2%	44,690	-14.4%	0.61%	-9.8%
GE	Buy	General Electric Company	$541,000	-5.7%	18,255	+0.1%	0.30%	-6.2%
AAPL	Buy	Apple Computer, Inc.	$530,000	+18.3%	4,692	+0.1%	0.30%	+17.5%
MMM	Buy	3m Company	$339,000	+0.9%	1,924	+0.4%	0.19%	+0.5%
RTN	Buy	Raytheon Company New	$314,000	+0.6%	2,304	+0.5%	0.18%	0.0%
JPM	Buy	Jpmorgan Chase & Co	$257,000	+8.0%	3,862	+0.7%	0.14%	+7.5%
BMY	Buy	Bristol-Myers Squibb Co	$218,000	-26.4%	4,040	+0.4%	0.12%	-26.9%
EPD	Buy	Enterprise Prd Prtnrs Lp	$195,000	+10.8%	7,057	+17.3%	0.11%	+10.1%
TSEM	New	Tower Semiconductor	$175,000	–	11,500	–	0.10%	–
JCI	New	Johnson Controls Inc	$174,000	–	3,740	–	0.10%	–
JCI	Exit	Johnson Controls Inc	$0	–	-4,417	–	-0.11%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class Bcl b new	$18,552,000	–	128,131	–	10.44%	–
PEP	New	Pepsico Incorporated	$10,581,000	–	99,877	–	5.95%	–
T	New	A T & T Corp New	$10,315,000	–	238,718	–	5.80%	–
KO	New	Coca Cola Company	$9,320,000	–	205,601	–	5.24%	–
INTC	New	Intel Corp.	$8,599,000	–	262,178	–	4.84%	–
UTX	New	United Technologies Corp	$7,137,000	–	69,593	–	4.02%	–
JNJ	New	Johnson & Johnson	$6,904,000	–	56,915	–	3.88%	–
CSX	New	C S X Corp	$6,791,000	–	260,388	–	3.82%	–
MSFT	New	Microsoft Corp	$6,433,000	–	125,725	–	3.62%	–
DVA	New	Davita Healthcare Ptnr	$6,370,000	–	82,384	–	3.58%	–
LMT	New	Lockheed Martin Corp	$6,326,000	–	25,491	–	3.56%	–
MDT	New	Medtronic PLC	$6,149,000	–	70,864	–	3.46%	–
HD	New	Home Depot Inc	$6,078,000	–	47,598	–	3.42%	–
CVX	New	Chevrontexaco Corp	$6,049,000	–	57,703	–	3.40%	–
IBM	New	Intl Business Machines	$5,855,000	–	38,577	–	3.29%	–
WBA	New	Walgreens Boots Allianc	$5,369,000	–	64,481	–	3.02%	–
DIS	New	Disney Walt Co	$5,222,000	–	53,386	–	2.94%	–
PG	New	Procter & Gamble	$5,097,000	–	60,197	–	2.87%	–
COP	New	Conocophillips	$4,096,000	–	93,944	–	2.30%	–
SYK	New	Stryker Corp	$3,620,000	–	30,209	–	2.04%	–
UNP	New	Union Pacific Corp	$3,305,000	–	37,884	–	1.86%	–
AXP	New	American Express Company	$2,549,000	–	41,949	–	1.43%	–
MCD	New	Mc Donalds Corp	$2,463,000	–	20,469	–	1.39%	–
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$2,307,000	–	1,776	–	1.30%	–
CSCO	New	Cisco Systems Inc	$2,293,000	–	79,915	–	1.29%	–
ABBV	New	Abbvie Inc	$2,125,000	–	34,317	–	1.20%	–
XOM	New	Exxon Mobil Corporation	$1,827,000	–	19,492	–	1.03%	–
ABT	New	Abbott Laboratories	$1,678,000	–	42,690	–	0.94%	–
GILD	New	Gilead Sciences Inc	$1,661,000	–	19,916	–	0.93%	–
WMT	New	Wal-Mart Stores Inc	$1,627,000	–	22,282	–	0.92%	–
AMGN	New	Amgen Incorporated	$1,610,000	–	10,580	–	0.91%	–
UPS	New	United Parcel Service B	$1,310,000	–	12,165	–	0.74%	–
BWINA	New	Baldwin & Lyons Class A	$1,198,000	–	52,190	–	0.67%	–
LOW	New	Lowes Companies Inc	$820,000	–	10,353	–	0.46%	–
GE	New	General Electric Company	$574,000	–	18,232	–	0.32%	–
HAL	New	Halliburton Co Hldg Co	$505,000	–	11,147	–	0.28%	–
CEF	New	Central Fd Cda Ltd Clacl a	$469,000	–	33,759	–	0.26%	–
AAPL	New	Apple Computer, Inc.	$448,000	–	4,688	–	0.25%	–
	New	Petrochina Co Adrsponsored adr	$365,000	–	5,370	–	0.20%	–
MMM	New	3m Company	$336,000	–	1,916	–	0.19%	–
GOOG	New	Alphabet Inccap stk cl c	$325,000	–	469	–	0.18%	–
RTN	New	Raytheon Company New	$312,000	–	2,292	–	0.18%	–
BMY	New	Bristol-Myers Squibb Co	$296,000	–	4,022	–	0.17%	–
CI	New	Cigna Corp	$290,000	–	2,268	–	0.16%	–
JPM	New	Jpmorgan Chase & Co	$238,000	–	3,836	–	0.13%	–
REGN	New	Regeneron Pharms Inc	$236,000	–	677	–	0.13%	–
ORCL	New	Oracle Corp	$234,000	–	5,720	–	0.13%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$217,000	–	1	–	0.12%	–
BHI	New	Baker Hughes Inc	$215,000	–	4,762	–	0.12%	–
FB	New	Facebookcl a	$206,000	–	1,800	–	0.12%	–
GOOGL	New	Alphabet Inccap stk cl a	$196,000	–	279	–	0.11%	–
JCI	New	Johnson Controls Inc	$196,000	–	4,417	–	0.11%	–
EPD	New	Enterprise Prd Prtnrs Lp	$176,000	–	6,017	–	0.10%	–
NSC	New	Norfolk Southern Corp	$171,000	–	2,008	–	0.10%	–
HDSN	New	Hudson Technologies Inc	$108,000	–	30,000	–	0.06%	–

Q4 2015

			Value		Shares		↓ Weighting
HDSN	Exit	Hudson Technologies Inc	$0	–	-30,000	–	-0.05%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.10%	–
GOOG	Exit	Google Class Ccl c	$0	–	-279	–	-0.11%	–
EPD	Exit	Enterprise Prd Prtnrs Lp	$0	–	-6,786	–	-0.11%	–
GOOGL	Exit	Google Class Acl a	$0	–	-279	–	-0.12%	–
JCI	Exit	Johnson Controls Inc	$0	–	-4,324	–	-0.12%	–
BRKA	Exit	1/100 Berkshire Htwy Clacl a	$0	–	-1	–	-0.13%	–
JPM	Exit	Jpmorgan Chase & Co	$0	–	-3,765	–	-0.15%	–
RTN	Exit	Raytheon Company New	$0	–	-2,254	–	-0.16%	–
MMM	Exit	3m Company	$0	–	-1,892	–	-0.17%	–
BHI	Exit	Baker Hughes Inc	$0	–	-5,325	–	-0.18%	–
CI	Exit	Cigna Corp	$0	–	-2,268	–	-0.20%	–
AAPL	Exit	Apple Computer, Inc.	$0	–	-2,833	–	-0.20%	–
REGN	Exit	Regeneron Pharms Inc	$0	–	-677	–	-0.20%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-5,434	–	-0.21%	–
GE	Exit	General Electric Company	$0	–	-14,012	–	-0.23%	–
CEF	Exit	Central Fd Cda Ltd Clacl a	$0	–	-33,759	–	-0.23%	–
HAL	Exit	Halliburton Co Hldg Co	$0	–	-10,892	–	-0.25%	–
	Exit	Petrochina Co Adrsponsored adr	$0	–	-7,101	–	-0.32%	–
MAT	Exit	Mattel Incorporated	$0	–	-25,400	–	-0.34%	–
RDSA	Exit	Royal Dutch Shell A Adrfsponsored adr a	$0	–	-11,650	–	-0.36%	–
UPS	Exit	United Parcel Service B	$0	–	-5,901	–	-0.36%	–
LOW	Exit	Lowes Companies Inc	$0	–	-10,513	–	-0.47%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-13,277	–	-0.56%	–
BWINA	Exit	Baldwin & Lyons Class A	$0	–	-54,275	–	-0.80%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-17,082	–	-0.82%	–
AMGN	Exit	Amgen Incorporated	$0	–	-10,735	–	-0.96%	–
ABT	Exit	Abbott Laboratories	$0	–	-44,446	–	-1.15%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-19,065	–	-1.21%	–
AXP	Exit	American Express Company	$0	–	-25,282	–	-1.21%	–
MCD	Exit	Mc Donalds Corp	$0	–	-20,405	–	-1.30%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-77,482	–	-1.31%	–
WFCPRL	Exit	Wells Fargo Banperp pfd cnv a	$0	–	-1,776	–	-1.34%	–
ABBV	Exit	Abbvie Inc	$0	–	-41,514	–	-1.46%	–
UNP	Exit	Union Pacific Corp	$0	–	-31,595	–	-1.78%	–
SYK	Exit	Stryker Corp	$0	–	-32,870	–	-2.00%	–
CVX	Exit	Chevrontexaco Corp	$0	–	-54,916	–	-2.80%	–
PG	Exit	Procter & Gamble	$0	–	-63,469	–	-2.95%	–
COP	Exit	Conocophillips	$0	–	-95,692	–	-2.96%	–
WBA	Exit	Walgreens Boots Allianc	$0	–	-59,921	–	-3.21%	–
JNJ	Exit	Johnson & Johnson	$0	–	-55,103	–	-3.32%	–
MDT	Exit	Medtronic Inc	$0	–	-78,224	–	-3.38%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-26,131	–	-3.50%	–
DIS	Exit	Disney Walt Co	$0	–	-53,186	–	-3.51%	–
MSFT	Exit	Microsoft Corp	$0	–	-123,662	–	-3.53%	–
IBM	Exit	Intl Business Machines	$0	–	-37,893	–	-3.53%	–
HD	Exit	Home Depot Inc	$0	–	-48,328	–	-3.60%	–
DVA	Exit	Davita Healthcare Ptnr	$0	–	-78,084	–	-3.64%	–
UTX	Exit	United Technologies Corp	$0	–	-65,410	–	-3.76%	–
CSX	Exit	C S X Corp	$0	–	-245,475	–	-4.26%	–
T	Exit	A T & T Corp New	$0	–	-224,899	–	-4.73%	–
INTC	Exit	Intel Corp.	$0	–	-257,743	–	-5.01%	–
KO	Exit	Coca Cola Company	$0	–	-202,427	–	-5.24%	–
PEP	Exit	Pepsico Incorporated	$0	–	-100,264	–	-6.09%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b new	$0	–	-123,009	–	-10.35%	–

Q3 2015

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway Class Bcl b new	$16,040,000	-4.8%	123,009	-0.7%	10.35%	+2.4%
PEP	Sell	Pepsico Incorporated	$9,435,000	+0.4%	100,264	-0.5%	6.09%	+8.0%
KO	Sell	Coca Cola Company	$8,121,000	+1.6%	202,427	-0.6%	5.24%	+9.3%
INTC	Sell	Intel Corp.	$7,768,000	-1.0%	257,743	-0.1%	5.01%	+6.5%
T	Buy	A T & T Corp New	$7,327,000	-6.9%	224,899	+1.5%	4.73%	+0.1%
CSX	Buy	C S X Corp	$6,603,000	-16.6%	245,475	+1.2%	4.26%	-10.3%
UTX	Buy	United Technologies Corp	$5,821,000	-1.0%	65,410	+23.4%	3.76%	+6.5%
DVA	Sell	Davita Healthcare Ptnr	$5,648,000	-9.2%	78,084	-0.2%	3.64%	-2.3%
HD	Sell	Home Depot Inc	$5,581,000	+3.2%	48,328	-0.6%	3.60%	+11.1%
IBM	Buy	Intl Business Machines	$5,473,000	-10.6%	37,893	+0.6%	3.53%	-3.9%
MSFT	Sell	Microsoft Corp	$5,473,000	+0.2%	123,662	-0.1%	3.53%	+7.8%
DIS	Sell	Disney Walt Co	$5,436,000	-10.5%	53,186	-0.1%	3.51%	-3.7%
LMT	Sell	Lockheed Martin Corp	$5,417,000	-23.3%	26,131	-31.3%	3.50%	-17.5%
MDT	Sell	Medtronic Inc	$5,236,000	-16.2%	78,224	-7.2%	3.38%	-9.8%
JNJ	Sell	Johnson & Johnson	$5,144,000	-4.6%	55,103	-0.4%	3.32%	+2.6%
WBA	Sell	Walgreens Boots Allianc	$4,979,000	-3.9%	59,921	-2.3%	3.21%	+3.4%
COP	Sell	Conocophillips	$4,589,000	-22.6%	95,692	-0.9%	2.96%	-16.7%
PG	Buy	Procter & Gamble	$4,566,000	-7.5%	63,469	+0.7%	2.95%	-0.4%
CVX	Buy	Chevrontexaco Corp	$4,332,000	-17.0%	54,916	+1.5%	2.80%	-10.7%
SYK	Sell	Stryker Corp	$3,093,000	-7.6%	32,870	-6.1%	2.00%	-0.5%
UNP	Buy	Union Pacific Corp	$2,765,000	+45.5%	31,595	+58.6%	1.78%	+56.6%
ABBV	Buy	Abbvie Inc	$2,259,000	-18.5%	41,514	+0.7%	1.46%	-12.3%
WFCPRL	Sell	Wells Fargo Banperp pfd cnv a	$2,074,000	-1.3%	1,776	-0.7%	1.34%	+6.1%
CSCO	Sell	Cisco Systems Inc	$2,034,000	-6.7%	77,482	-2.4%	1.31%	+0.4%
MCD	Sell	Mc Donalds Corp	$2,011,000	+1.9%	20,405	-1.7%	1.30%	+9.7%
AXP	Buy	American Express Company	$1,874,000	+6.4%	25,282	+11.5%	1.21%	+14.4%
GILD	Sell	Gilead Sciences Inc	$1,872,000	-17.5%	19,065	-1.6%	1.21%	-11.2%
ABT	Sell	Abbott Laboratories	$1,788,000	-19.4%	44,446	-1.6%	1.15%	-13.2%
XOM	Buy	Exxon Mobil Corporation	$1,270,000	-5.9%	17,082	+5.3%	0.82%	+1.2%
WMT	Buy	Wal-Mart Stores Inc	$861,000	+1.9%	13,277	+11.0%	0.56%	+9.7%
UPS	Buy	United Parcel Service B	$559,000	+106.3%	5,901	+111.1%	0.36%	+121.5%
RDSA	Sell	Royal Dutch Shell A Adrfsponsored adr a	$552,000	-23.4%	11,650	-7.9%	0.36%	-17.6%
	Sell	Petrochina Co Adrsponsored adr	$495,000	-39.0%	7,101	-2.9%	0.32%	-34.4%
HAL	Sell	Halliburton Co Hldg Co	$385,000	-19.6%	10,892	-2.1%	0.25%	-13.6%
GE	Sell	General Electric Company	$353,000	-5.9%	14,012	-0.6%	0.23%	+1.3%
BMY	Buy	Bristol-Myers Squibb Co	$322,000	-10.6%	5,434	+0.4%	0.21%	-3.7%
AAPL	Buy	Apple Computer, Inc.	$312,000	-9.6%	2,833	+2.9%	0.20%	-2.9%
MMM	Buy	3m Company	$268,000	-7.9%	1,892	+0.5%	0.17%	-1.1%
RTN	Buy	Raytheon Company New	$246,000	+15.0%	2,254	+0.6%	0.16%	+24.2%
JPM	Sell	Jpmorgan Chase & Co	$230,000	-10.9%	3,765	-1.2%	0.15%	-4.5%
JCI	Sell	Johnson Controls Inc	$179,000	-22.2%	4,324	-7.1%	0.12%	-16.7%

Q2 2015

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class Bcl b new	$16,857,000	–	123,852	–	10.11%	–
PEP	New	Pepsico Incorporated	$9,402,000	–	100,733	–	5.64%	–
KO	New	Coca Cola Company	$7,991,000	–	203,694	–	4.79%	–
CSX	New	C S X Corp	$7,918,000	–	242,510	–	4.75%	–
T	New	A T & T Corp New	$7,872,000	–	221,611	–	4.72%	–
INTC	New	Intel Corp.	$7,845,000	–	257,941	–	4.70%	–
LMT	New	Lockheed Martin Corp	$7,067,000	–	38,013	–	4.24%	–
MDT	New	Medtronic Inc	$6,245,000	–	84,283	–	3.74%	–
DVA	New	Davita Healthcare Ptnr	$6,220,000	–	78,264	–	3.73%	–
IBM	New	Intl Business Machines	$6,125,000	–	37,654	–	3.67%	–
DIS	New	Disney Walt Co	$6,076,000	–	53,236	–	3.64%	–
COP	New	Conocophillips	$5,928,000	–	96,528	–	3.56%	–
UTX	New	United Technologies Corp	$5,881,000	–	53,018	–	3.53%	–
MSFT	New	Microsoft Corp	$5,464,000	–	123,758	–	3.28%	–
HD	New	Home Depot Inc	$5,406,000	–	48,643	–	3.24%	–
JNJ	New	Johnson & Johnson	$5,394,000	–	55,346	–	3.24%	–
CVX	New	Chevrontexaco Corp	$5,221,000	–	54,120	–	3.13%	–
WBA	New	Walgreens Boots Allianc	$5,181,000	–	61,361	–	3.11%	–
PG	New	Procter & Gamble	$4,934,000	–	63,058	–	2.96%	–
SYK	New	Stryker Corp	$3,347,000	–	35,017	–	2.01%	–
ABBV	New	Abbvie Inc	$2,771,000	–	41,235	–	1.66%	–
GILD	New	Gilead Sciences Inc	$2,268,000	–	19,375	–	1.36%	–
ABT	New	Abbott Laboratories	$2,218,000	–	45,187	–	1.33%	–
CSCO	New	Cisco Systems Inc	$2,179,000	–	79,362	–	1.31%	–
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$2,102,000	–	1,789	–	1.26%	–
MCD	New	Mc Donalds Corp	$1,973,000	–	20,755	–	1.18%	–
UNP	New	Union Pacific Corp	$1,900,000	–	19,925	–	1.14%	–
AXP	New	American Express Company	$1,762,000	–	22,667	–	1.06%	–
AMGN	New	Amgen Incorporated	$1,648,000	–	10,735	–	0.99%	–
XOM	New	Exxon Mobil Corporation	$1,349,000	–	16,218	–	0.81%	–
BWINA	New	Baldwin & Lyons Class A	$1,224,000	–	54,275	–	0.73%	–
WMT	New	Wal-Mart Stores Inc	$845,000	–	11,965	–	0.51%	–
	New	Petrochina Co Adrsponsored adr	$811,000	–	7,316	–	0.49%	–
RDSA	New	Royal Dutch Shell A Adrfsponsored adr a	$721,000	–	12,653	–	0.43%	–
LOW	New	Lowes Companies Inc	$704,000	–	10,513	–	0.42%	–
MAT	New	Mattel Incorporated	$653,000	–	25,400	–	0.39%	–
HAL	New	Halliburton Co Hldg Co	$479,000	–	11,130	–	0.29%	–
CEF	New	Central Fd Cda Ltd Clacl a	$394,000	–	33,759	–	0.24%	–
GE	New	General Electric Company	$375,000	–	14,102	–	0.22%	–
CI	New	Cigna Corp	$367,000	–	2,268	–	0.22%	–
BMY	New	Bristol-Myers Squibb Co	$360,000	–	5,413	–	0.22%	–
AAPL	New	Apple Computer, Inc.	$345,000	–	2,752	–	0.21%	–
REGN	New	Regeneron Pharms Inc	$345,000	–	677	–	0.21%	–
BHI	New	Baker Hughes Inc	$329,000	–	5,325	–	0.20%	–
MMM	New	3m Company	$291,000	–	1,883	–	0.18%	–
UPS	New	United Parcel Service B	$271,000	–	2,795	–	0.16%	–
JPM	New	Jpmorgan Chase & Co	$258,000	–	3,812	–	0.16%	–
JCI	New	Johnson Controls Inc	$230,000	–	4,652	–	0.14%	–
RTN	New	Raytheon Company New	$214,000	–	2,240	–	0.13%	–
BRKA	New	1/100 Berkshire Htwy Clacl a	$205,000	–	1	–	0.12%	–
EPD	New	Enterprise Prd Prtnrs Lp	$203,000	–	6,786	–	0.12%	–
NSC	New	Norfolk Southern Corp	$175,000	–	2,008	–	0.10%	–
GOOG	New	Google Class Ccl c	$151,000	–	279	–	0.09%	–
GOOGL	New	Google Class Acl a	$145,000	–	279	–	0.09%	–
HDSN	New	Hudson Technologies Inc	$105,000	–	30,000	–	0.06%	–

Q4 2014

			Value		Shares		↓ Weighting
	Exit	Paragon Offshore PLC	$0	–	-16,337	–	-0.06%	–
GOOG	Exit	Google Inc Class Ccl c	$0	–	-279	–	-0.10%	–
GOOGL	Exit	Google Inc Class Acl a	$0	–	-279	–	-0.10%	–
RGLD	Exit	Royal Gold Inc	$0	–	-2,664	–	-0.11%	–
CI	Exit	Cigna Corp	$0	–	-2,268	–	-0.13%	–
	Exit	Berkshire Hathaway Class Acl a	$0	–	-100	–	-0.13%	–
NSC	Exit	Norfolk Southern Corp	$0	–	-2,008	–	-0.14%	–
GE	Exit	General Electric Company	$0	–	-9,481	–	-0.16%	–
REGN	Exit	Regeneron Pharmaceuticals	$0	–	-677	–	-0.16%	–
BHI	Exit	Baker Hughes Inc	$0	–	-5,025	–	-0.21%	–
LOW	Exit	Lowes Companies Inc	$0	–	-9,771	–	-0.33%	–
MAT	Exit	Mattel Incorporated	$0	–	-19,660	–	-0.39%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-11,475	–	-0.56%	–
	Exit	Petrochina Co Adrsponsored adr	$0	–	-7,955	–	-0.65%	–
NE	Exit	Noble Corp	$0	–	-48,285	–	-0.69%	–
BWINA	Exit	Baldwin & Lyons Class A	$0	–	-49,165	–	-0.73%	–
AVP	Exit	Avon Products Inc	$0	–	-96,055	–	-0.77%	–
	Exit	Coeur D'alene 03/15/2028 3.25%note 3.250% 3/1	$0	–	-1,299	–	-0.84%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-13,905	–	-0.84%	–
AMGN	Exit	Amgen Incorporated	$0	–	-10,435	–	-0.94%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-14,670	–	-1.00%	–
CEF	Exit	Central Fd Cda Ltd Clacl a	$0	–	-137,025	–	-1.08%	–
MCD	Exit	Mc Donalds Corp	$0	–	-17,835	–	-1.08%	–
	Exit	Intel Corp 12/15/2035 2.95%sdcv 2.950%12/1	$0	–	-1,385	–	-1.13%	–
ABT	Exit	Abbott Laboratories	$0	–	-43,960	–	-1.17%	–
WFCPRL	Exit	Wells Fargo Banperp pfd cnv a	$0	–	-1,600	–	-1.23%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-77,512	–	-1.25%	–
ABBV	Exit	Abbvie Inc	$0	–	-38,648	–	-1.43%	–
SYK	Exit	Stryker Corp	$0	–	-35,095	–	-1.81%	–
T	Exit	A T & T Corp New	$0	–	-91,500	–	-2.06%	–
WAG	Exit	Walgreen Company	$0	–	-59,641	–	-2.26%	–
HD	Exit	Home Depot Inc	$0	–	-48,651	–	-2.86%	–
DIS	Exit	Disney Walt Co	$0	–	-52,391	–	-2.98%	–
RDSA	Exit	Royal Dutch Shell A Adrfsponsored adr a	$0	–	-63,944	–	-3.11%	–
UTX	Exit	United Technologies Corp	$0	–	-46,607	–	-3.15%	–
PG	Exit	Procter & Gamble	$0	–	-59,113	–	-3.17%	–
MDT	Exit	Medtronic Inc	$0	–	-83,182	–	-3.30%	–
MSFT	Exit	Microsoft Corp	$0	–	-114,532	–	-3.40%	–
DVA	Exit	Davita Healthcare Ptnr	$0	–	-74,294	–	-3.48%	–
CVX	Exit	Chevrontexaco Corp	$0	–	-47,089	–	-3.60%	–
JNJ	Exit	Johnson & Johnson	$0	–	-52,939	–	-3.61%	–
IBM	Exit	Intl Business Machines	$0	–	-32,580	–	-3.96%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-37,808	–	-4.42%	–
COP	Exit	Conocophillips	$0	–	-90,727	–	-4.44%	–
INTC	Exit	Intel Corp.	$0	–	-209,350	–	-4.66%	–
CSX	Exit	C S X Corp	$0	–	-239,410	–	-4.91%	–
KO	Exit	Coca Cola Company	$0	–	-190,146	–	-5.19%	–
PEP	Exit	Pepsico Incorporated	$0	–	-96,932	–	-5.77%	–
BRKB	Exit	Berkshire Hathaway Class Bcl b new	$0	–	-118,208	–	-10.45%	–

Q3 2014

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway Class Bcl b new	$16,329,000	+9.5%	118,208	+0.3%	10.45%	+5.8%
PEP	Buy	Pepsico Incorporated	$9,023,000	+4.8%	96,932	+0.6%	5.77%	+1.3%
KO	Buy	Coca Cola Company	$8,112,000	+2.4%	190,146	+1.6%	5.19%	-1.1%
CSX	Sell	C S X Corp	$7,675,000	+3.9%	239,410	-0.1%	4.91%	+0.4%
INTC	Buy	Intel Corp.	$7,290,000	+13.3%	209,350	+0.5%	4.66%	+9.5%
COP	Buy	Conocophillips	$6,942,000	-9.6%	90,727	+1.2%	4.44%	-12.7%
LMT	Sell	Lockheed Martin Corp	$6,911,000	+12.6%	37,808	-1.0%	4.42%	+8.8%
IBM	Buy	Intl Business Machines	$6,185,000	+5.5%	32,580	+0.7%	3.96%	+1.9%
JNJ	Sell	Johnson & Johnson	$5,643,000	+1.7%	52,939	-0.2%	3.61%	-1.7%
CVX	Buy	Chevrontexaco Corp	$5,619,000	-3.1%	47,089	+6.0%	3.60%	-6.4%
DVA	Buy	Davita Healthcare Ptnr	$5,434,000	+2.0%	74,294	+0.8%	3.48%	-1.5%
MSFT	Buy	Microsoft Corp	$5,310,000	+12.2%	114,532	+0.9%	3.40%	+8.4%
MDT	Buy	Medtronic Inc	$5,153,000	-0.8%	83,182	+2.1%	3.30%	-4.1%
PG	Buy	Procter & Gamble	$4,950,000	+6.8%	59,113	+0.3%	3.17%	+3.2%
UTX	Buy	United Technologies Corp	$4,922,000	+7.7%	46,607	+17.7%	3.15%	+4.1%
RDSA	Buy	Royal Dutch Shell A Adrfsponsored adr a	$4,868,000	-6.8%	63,944	+0.9%	3.11%	-9.9%
DIS	Buy	Disney Walt Co	$4,664,000	+3.9%	52,391	+0.0%	2.98%	+0.4%
HD	Buy	Home Depot Inc	$4,463,000	+17.0%	48,651	+3.3%	2.86%	+13.1%
WAG	Buy	Walgreen Company	$3,535,000	-15.9%	59,641	+5.2%	2.26%	-18.8%
T	Buy	A T & T Corp New	$3,224,000	+4.5%	91,500	+4.9%	2.06%	+1.0%
SYK	Sell	Stryker Corp	$2,834,000	-4.4%	35,095	-0.1%	1.81%	-7.6%
ABBV	Buy	Abbvie Inc	$2,232,000	+5.4%	38,648	+3.0%	1.43%	+1.9%
ABT	Buy	Abbott Laboratories	$1,828,000	+2.9%	43,960	+1.3%	1.17%	-0.6%
MCD	Buy	Mc Donalds Corp	$1,691,000	+25.9%	17,835	+33.7%	1.08%	+21.7%
CEF	Sell	Central Fd Cda Ltd Clacl a	$1,687,000	-16.6%	137,025	-1.5%	1.08%	-19.4%
GILD	Buy	Gilead Sciences Inc	$1,562,000	+39.0%	14,670	+8.2%	1.00%	+34.3%
AVP	Buy	Avon Products Inc	$1,210,000	-13.3%	96,055	+0.6%	0.77%	-16.2%
BWINA	Buy	Baldwin & Lyons Class A	$1,148,000	+8.4%	49,165	+8.7%	0.73%	+4.7%
NE	Sell	Noble Corp	$1,073,000	-36.1%	48,285	-3.5%	0.69%	-38.3%
WMT	Buy	Wal-Mart Stores Inc	$877,000	+6.4%	11,475	+4.5%	0.56%	+2.7%
MAT	Buy	Mattel Incorporated	$603,000	-1.6%	19,660	+24.9%	0.39%	-4.9%
LOW	Sell	Lowes Companies Inc	$517,000	+7.7%	9,771	-2.3%	0.33%	+4.1%
BHI	Buy	Baker Hughes Inc	$327,000	-1.5%	5,025	+12.6%	0.21%	-5.0%
REGN	New	Regeneron Pharmaceuticals	$244,000	–	677	–	0.16%	–
GE	Buy	General Electric Company	$243,000	-2.4%	9,481	+0.1%	0.16%	-6.1%
	New	Berkshire Hathaway Class Acl a	$207,000	–	100	–	0.13%	–
	New	Paragon Offshore PLC	$100,000	–	16,337	–	0.06%	–

Q2 2014

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway Class Bcl b new	$14,916,000	–	117,858	–	9.88%	–
PEP	New	Pepsico Incorporated	$8,608,000	–	96,353	–	5.70%	–
KO	New	Coca Cola Company	$7,925,000	–	187,086	–	5.25%	–
COP	New	Conocophillips	$7,683,000	–	89,624	–	5.09%	–
CSX	New	C S X Corp	$7,385,000	–	239,680	–	4.89%	–
INTC	New	Intel Corp.	$6,435,000	–	208,240	–	4.26%	–
LMT	New	Lockheed Martin Corp	$6,139,000	–	38,194	–	4.06%	–
IBM	New	Intl Business Machines	$5,864,000	–	32,348	–	3.88%	–
CVX	New	Chevrontexaco Corp	$5,801,000	–	44,433	–	3.84%	–
JNJ	New	Johnson & Johnson	$5,549,000	–	53,044	–	3.67%	–
DVA	New	Davita Healthcare Ptnr	$5,328,000	–	73,674	–	3.53%	–
RDSA	New	Royal Dutch Shell A Adrfsponsored adr a	$5,223,000	–	63,405	–	3.46%	–
MDT	New	Medtronic Inc	$5,194,000	–	81,465	–	3.44%	–
MSFT	New	Microsoft Corp	$4,732,000	–	113,480	–	3.13%	–
PG	New	Procter & Gamble	$4,634,000	–	58,963	–	3.07%	–
UTX	New	United Technologies Corp	$4,570,000	–	39,587	–	3.03%	–
DIS	New	Disney Walt Co	$4,490,000	–	52,366	–	2.97%	–
WAG	New	Walgreen Company	$4,204,000	–	56,710	–	2.78%	–
HD	New	Home Depot Inc	$3,814,000	–	47,106	–	2.52%	–
T	New	A T & T Corp New	$3,085,000	–	87,250	–	2.04%	–
SYK	New	Stryker Corp	$2,963,000	–	35,138	–	1.96%	–
ABBV	New	Abbvie Inc	$2,118,000	–	37,528	–	1.40%	–
CEF	New	Central Fd Cda Ltd Clacl a	$2,022,000	–	139,083	–	1.34%	–
WFCPRL	New	Wells Fargo Banperp pfd cnv a	$1,943,000	–	1,600	–	1.29%	–
CSCO	New	Cisco Systems Inc	$1,926,000	–	77,512	–	1.28%	–
ABT	New	Abbott Laboratories	$1,776,000	–	43,411	–	1.18%	–
	New	Intel Corp 12/15/2035 2.95%sdcv 2.950%12/1	$1,724,000	–	1,385	–	1.14%	–
NE	New	Noble Corp	$1,679,000	–	50,023	–	1.11%	–
XOM	New	Exxon Mobil Corporation	$1,400,000	–	13,905	–	0.93%	–
AVP	New	Avon Products Inc	$1,395,000	–	95,480	–	0.92%	–
MCD	New	Mc Donalds Corp	$1,343,000	–	13,335	–	0.89%	–
	New	Coeur D'alene 03/15/2028 3.25%note 3.250% 3/1	$1,313,000	–	1,299	–	0.87%	–
AMGN	New	Amgen Incorporated	$1,235,000	–	10,435	–	0.82%	–
GILD	New	Gilead Sciences Inc	$1,124,000	–	13,560	–	0.74%	–
BWINA	New	Baldwin & Lyons Class A	$1,059,000	–	45,250	–	0.70%	–
	New	Petrochina Co Adrsponsored adr	$999,000	–	7,955	–	0.66%	–
WMT	New	Wal-Mart Stores Inc	$824,000	–	10,981	–	0.55%	–
MAT	New	Mattel Incorporated	$613,000	–	15,740	–	0.41%	–
LOW	New	Lowes Companies Inc	$480,000	–	9,996	–	0.32%	–
BHI	New	Baker Hughes Inc	$332,000	–	4,462	–	0.22%	–
GE	New	General Electric Company	$249,000	–	9,476	–	0.16%	–
CI	New	Cigna Corp	$209,000	–	2,268	–	0.14%	–
NSC	New	Norfolk Southern Corp	$207,000	–	2,008	–	0.14%	–
RGLD	New	Royal Gold Inc	$203,000	–	2,664	–	0.13%	–
GOOGL	New	Google Inc Class Acl a	$163,000	–	279	–	0.11%	–
GOOG	New	Google Inc Class Ccl c	$161,000	–	279	–	0.11%	–

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