New England Research & Management, Inc. Activity Q4 2013-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$5,333	-9.8%	58,200	-1.4%	3.04%	-11.4%
AAPL	Sell	Apple Computercs	$5,061	-11.9%	29,561	-0.2%	2.88%	-13.4%
GOOGL	Buy	Alphabet Inc Class Acs	$4,987	+38.5%	38,106	+26.7%	2.84%	+36.0%
JNJ	Sell	Johnson & Johnsoncs	$4,724	-6.8%	30,328	-0.9%	2.69%	-8.4%
MSFT	Buy	Microsoftcs	$4,546	-5.3%	14,398	+2.1%	2.59%	-7.0%
ZTS	Buy	Zoetis Inccs	$3,867	+23.0%	22,228	+21.8%	2.20%	+20.8%
CSX	Sell	CSX Corpcs	$3,309	-10.8%	107,619	-1.1%	1.89%	-12.4%
UPS	Sell	UPScs	$3,260	-15.3%	20,914	-2.6%	1.86%	-16.8%
HON	Buy	Honeywell Int'l.cs	$3,183	-5.2%	17,231	+6.4%	1.81%	-6.9%
BRKB	Sell	Berkshire Hathaway Bcs	$2,792	+0.5%	7,970	-2.1%	1.59%	-1.2%
BMY	Sell	Bristol Myers Squibbcs	$2,751	-10.7%	47,397	-1.6%	1.57%	-12.2%
KO	Sell	Coca-Colacs	$2,677	-18.9%	47,813	-12.8%	1.52%	-20.4%
AMGN	Sell	Amgencs	$2,677	-15.3%	9,960	-30.0%	1.52%	-16.8%
KMB	Sell	Kimberly Clarkcs	$2,617	-19.4%	21,654	-7.9%	1.49%	-20.8%
PFE	Sell	Pfizercs	$2,615	-11.6%	78,850	-2.2%	1.49%	-13.2%
URI	Sell	United Rentals, Inc.cs	$2,581	-9.4%	5,805	-9.2%	1.47%	-11.0%
AMZN	Buy	Amazon, Inc.cs	$2,470	+89.4%	19,433	+94.3%	1.41%	+86.1%
XOM	Sell	Exxon Mobilcs	$2,323	+9.4%	19,761	-0.2%	1.32%	+7.5%
	Sell	Canadian Pacific Kansas City Lcs	$2,258	-8.9%	30,340	-1.1%	1.29%	-10.4%
UNH	Buy	UnitedHealth Groupcs	$2,249	+77.2%	4,460	+68.9%	1.28%	+74.2%
LEN	New	Lennarcs	$2,174	–	19,375	–	1.24%	–
ADI	Buy	Analog Devicescs	$2,040	+25.8%	11,650	+39.9%	1.16%	+23.5%
EL	Buy	Estee Laudercs	$1,987	-10.5%	13,748	+21.7%	1.13%	-12.0%
UTHR	Buy	United Therapeutics Corporatiocs	$1,921	+38.6%	8,505	+35.4%	1.10%	+36.2%
NKE	Sell	Nike Inc Class Bcs	$1,917	-14.2%	20,052	-1.0%	1.09%	-15.7%
AMD	Buy	Advanced Micro Devicescs	$1,853	+28.9%	18,025	+42.8%	1.06%	+26.6%
ABT	Sell	Abbott Labscs	$1,818	-13.0%	18,774	-2.1%	1.04%	-14.5%
UNP	Sell	Union Pacificcs	$1,804	-3.8%	8,861	-3.3%	1.03%	-5.5%
	New	GE HealthCare Technologies Inccs	$1,800	–	26,461	–	1.03%	–
SYY	Sell	Sysco Corpcs	$1,769	-15.3%	26,784	-4.8%	1.01%	-16.8%
H	New	Hyatt Hotels Corpcs	$1,750	–	16,500	–	1.00%	–
MS	Buy	Morgan Stanleycs	$1,749	+20.2%	21,417	+25.7%	1.00%	+18.1%
PEP	Buy	Pepsicocs	$1,681	+50.2%	9,918	+64.1%	0.96%	+47.6%
YUM	New	Yum Brands Inc.cs	$1,680	–	13,450	–	0.96%	–
NEE	Buy	NextEra Energy Inc.cs	$1,667	-1.2%	29,100	+27.9%	0.95%	-3.0%
CSCO	Sell	Cisco Systemscs	$1,646	-28.6%	30,624	-31.3%	0.94%	-29.8%
MRK	Sell	Merckcs	$1,639	-13.0%	15,924	-2.5%	0.93%	-14.5%
SCHW	Sell	Charles Schwabcs	$1,610	-6.0%	29,330	-3.0%	0.92%	-7.7%
SBUX	Buy	Starbuckscs	$1,579	+157.2%	17,295	+179.2%	0.90%	+152.8%
GOOG	Sell	Alphabet Inc Class Ccs	$1,515	+7.4%	11,494	-1.4%	0.86%	+5.5%
IBM	Sell	Int'l Bus. Mach.cs	$1,512	-37.9%	10,774	-40.8%	0.86%	-39.0%
DHR	Sell	Danahercs	$1,510	-11.6%	6,086	-14.5%	0.86%	-13.2%
PWR	Sell	Quanta Servicescs	$1,458	-8.8%	7,796	-4.2%	0.83%	-10.5%
MDT	Sell	Medtronic PLCcs	$1,450	-13.2%	18,504	-2.4%	0.83%	-14.8%
TGT	Sell	Targetcs	$1,393	-20.0%	12,600	-4.5%	0.79%	-21.4%
K	Sell	Kellanovacs	$1,302	-15.2%	21,885	-3.9%	0.74%	-16.7%
ENS	New	EnerSyscs	$1,280	–	13,525	–	0.73%	–
DIS	Sell	Walt Disneycs	$1,261	-12.2%	15,562	-3.3%	0.72%	-13.7%
GIS	Sell	General Millscs	$1,243	-18.3%	19,425	-2.0%	0.71%	-19.7%
COP	Sell	ConocoPhillipscs	$1,241	-30.7%	10,360	-40.0%	0.71%	-31.9%
PPG	New	PPG Industriescs	$1,223	–	9,425	–	0.70%	–
AVGO	New	Broadcomcs	$1,193	–	1,436	–	0.68%	–
SPG	Sell	Simon Property Groupcs	$1,180	-9.0%	10,925	-2.7%	0.67%	-10.6%
PRU	Sell	Prudential Financialcs	$1,173	+5.9%	12,364	-1.6%	0.67%	+3.9%
QSR	Buy	Restaurant Brands Int'lcs	$1,167	+112.2%	17,524	+146.9%	0.66%	+108.5%
CVX	Sell	Chevron Corporationcs	$1,138	-13.9%	6,750	-19.6%	0.65%	-15.5%
ORCL	New	Oraclecs	$1,115	–	10,530	–	0.64%	–
MDC	New	M.D.C. Holdings, Inc.cs	$1,090	–	26,446	–	0.62%	–
CARR	Sell	Carrier Globalcs	$1,083	-28.9%	19,628	-36.0%	0.62%	-30.1%
WASH	Sell	Washington Trustcs	$1,059	-6.1%	40,224	-4.4%	0.60%	-7.8%
TKR	Buy	Timkencs	$1,055	-18.0%	14,350	+2.1%	0.60%	-19.4%
NOC	Sell	Northrop Grummancs	$1,011	-11.2%	2,297	-8.0%	0.58%	-12.7%
TFC	Sell	Truist Financial Corpcs	$996	-16.1%	34,807	-11.0%	0.57%	-17.6%
CTAS	Buy	Cintascs	$986	+84.6%	2,050	+90.7%	0.56%	+81.3%
LHX	Sell	L3Harris Technologiescs	$964	-13.0%	5,535	-2.2%	0.55%	-14.6%
ON	New	ON Semiconductorcs	$911	–	9,800	–	0.52%	–
LLY	Sell	Eli Lillycs	$908	+7.8%	1,690	-5.8%	0.52%	+5.9%
SYK	New	Strykercs	$847	–	3,100	–	0.48%	–
ANTM	Sell	Elevance Health Inc.cs	$843	-39.3%	1,935	-38.1%	0.48%	-40.4%
ABBV	Sell	AbbVie Inc.cs	$835	+4.5%	5,600	-5.6%	0.48%	+2.8%
SWK	New	Stanley Workscs	$827	–	9,900	–	0.47%	–
CMCO	New	Columbus McKinnon Corporationcs	$821	–	23,505	–	0.47%	–
ALB	Sell	Albemarle Corp.cs	$818	-31.8%	4,808	-10.6%	0.47%	-33.0%
MRVL	Buy	Marvell Technologiescs	$805	+83.8%	14,865	+102.9%	0.46%	+80.7%
AIR	New	AAR Corp.cs	$795	–	13,350	–	0.45%	–
ROL	New	Rollinscs	$791	–	21,200	–	0.45%	–
IR	New	Ingersoll-Randcs	$787	–	12,350	–	0.45%	–
	Sell	GlaxoSmithKline ADScs	$784	-1.3%	21,630	-2.9%	0.45%	-3.0%
AVT	New	Avnetcs	$757	–	15,700	–	0.43%	–
NFLX	Buy	Netflixcs	$755	+108.0%	2,000	+142.4%	0.43%	+103.8%
CAG	Sell	ConAgra Foodscs	$755	-27.3%	27,525	-10.6%	0.43%	-28.6%
AMN	Buy	AMN Healthcare Servicescs	$710	-18.0%	8,340	+5.0%	0.40%	-19.3%
PYPL	Sell	PayPalcs	$677	-36.1%	11,575	-27.1%	0.39%	-37.1%
DVN	Sell	Devon Energycs	$668	-42.5%	14,000	-41.7%	0.38%	-43.4%
IDXX	New	Idexx Laboratoriescs	$645	–	1,475	–	0.37%	–
LMT	New	Lockheed Martincs	$636	–	1,554	–	0.36%	–
TER	Sell	Teradynecs	$623	-43.8%	6,200	-37.7%	0.36%	-44.8%
DE	New	Deerecs	$608	–	1,610	–	0.35%	–
SON	Sell	Sonoco Products Companycs	$583	-9.8%	10,725	-2.1%	0.33%	-11.5%
	New	GXO Logisticscs	$560	–	9,550	–	0.32%	–
RHHBY	Sell	Roche Holdings Ltdcs	$556	-22.0%	16,375	-12.3%	0.32%	-23.4%
VZ	Sell	Verizon Comm.cs	$549	-14.8%	16,949	-2.1%	0.31%	-16.3%
TDG	Buy	TransDigm Group Incorporatedcs	$544	+5.8%	645	+12.2%	0.31%	+4.0%
V	Sell	Visacs	$529	-49.1%	2,300	-47.4%	0.30%	-50.1%
SWAV	New	ShockWave Medicalcs	$518	–	2,600	–	0.30%	–
LYV	New	Live Nation Entertainmentcs	$517	–	6,225	–	0.30%	–
EMR	Sell	Emerson Electriccs	$512	-35.4%	5,300	-39.6%	0.29%	-36.5%
KLAC	New	KLA Tencorcs	$505	–	1,100	–	0.29%	–
SONY	New	Sony Group Corporationcs	$490	–	5,950	–	0.28%	–
BA	Sell	Boeingcs	$485	-11.8%	2,528	-2.9%	0.28%	-13.5%
PATK	New	Patrick Industriescs	$484	–	6,450	–	0.28%	–
KEYS	New	Keysight Technologiescs	$470	–	3,550	–	0.27%	–
SJM	Sell	J.M. Smucker Companycs	$449	-19.0%	3,650	-2.7%	0.26%	-20.2%
AMAT	New	Applied Materialscs	$433	–	3,125	–	0.25%	–
BLL	Buy	Ballcs	$411	-12.9%	8,255	+1.9%	0.23%	-14.6%
MCHP	New	Microchip Technologycs	$396	–	5,075	–	0.23%	–
MAS	New	Masco Corpcs	$389	–	7,275	–	0.22%	–
CFG	Sell	Citizens Financial Groupcs	$384	-3.5%	14,315	-6.2%	0.22%	-5.2%
MDB	New	MongoDBcs	$372	–	1,075	–	0.21%	–
ALLE	New	Allegioncs	$367	–	3,525	–	0.21%	–
SMCI	New	Super Micro Computercs	$363	–	1,325	–	0.21%	–
LRCX	New	Lam Researchcs	$329	–	525	–	0.19%	–
OGN	Sell	Organoncs	$329	-27.9%	18,926	-13.7%	0.19%	-29.4%
	Sell	General Electriccs	$326	-1.2%	2,953	-1.7%	0.19%	-2.6%
WYNN	New	Wynn Resorts, Limitedcs	$327	–	3,535	–	0.19%	–
QCOM	New	Qualcommcs	$322	–	2,900	–	0.18%	–
FTNT	New	Fortinetcs	$312	–	5,325	–	0.18%	–
CNI	New	Canadian Natl Railcs	$309	–	2,850	–	0.18%	–
DAR	Sell	Darling Ingredients Inc.cs	$284	-18.6%	5,450	-0.5%	0.16%	-19.8%
SLB	Sell	Schlumbergercs	$279	+3.3%	4,792	-12.7%	0.16%	+1.3%
NEM	Sell	Newmont Miningcs	$278	-40.2%	7,525	-31.0%	0.16%	-41.5%
NVS	New	Novartis AG ADScs	$275	–	2,695	–	0.16%	–
EQNR	Sell	Equinor ASAcs	$275	-1.8%	8,395	-12.5%	0.16%	-3.1%
DT	New	Dynatrace, Inc.cs	$255	–	5,450	–	0.14%	–
TRN	New	Trinity Industriescs	$250	–	10,250	–	0.14%	–
REXR	Sell	Rexford Industrial Realty, Inccs	$249	-49.7%	5,050	-46.7%	0.14%	-50.5%
TSLA	New	Tesla, Inc.cs	$247	–	986	–	0.14%	–
LDOS	Sell	Leidos Holdings, Inc.cs	$245	-8.2%	2,663	-11.6%	0.14%	-9.7%
ENB	Sell	Enbridge Inccs	$203	-29.3%	6,125	-20.7%	0.12%	-30.1%
ACMR	New	ACM Researchcs	$191	–	10,525	–	0.11%	–
GMRE	Exit	Global Medical REIT Inc.cs	$0	–	-10,142	–	-0.05%	–
INMD	Exit	InMode Ltd.cs	$0	–	-5,825	–	-0.13%	–
RVNC	Exit	Revance Therapeuticscs	$0	–	-8,875	–	-0.13%	–
OVV	Exit	Ovintiv Inc.cs	$0	–	-5,950	–	-0.13%	–
TSEM	Exit	Tower Semiconductorcs	$0	–	-6,150	–	-0.13%	–
MPC	Exit	Marathon Petroleumcs	$0	–	-1,993	–	-0.14%	–
ADBE	Exit	Adobe Systemscs	$0	–	-575	–	-0.16%	–
FLR	Exit	Fluorcs	$0	–	-11,950	–	-0.20%	–
MXL	Exit	MaxLinear, Inc.cs	$0	–	-11,374	–	-0.21%	–
GLW	Exit	Corningcs	$0	–	-10,525	–	-0.21%	–
WPC	Exit	W.P. Carey & Co.cs	$0	–	-5,537	–	-0.22%	–
CCI	Exit	Crown Castle Inc.cs	$0	–	-3,420	–	-0.23%	–
ZBRA	Exit	Zebra Technologiescs	$0	–	-1,350	–	-0.23%	–
WAT	Exit	Waterscs	$0	–	-1,585	–	-0.24%	–
TXT	Exit	Textroncs	$0	–	-6,700	–	-0.26%	–
AWK	Exit	American Water Workscs	$0	–	-3,400	–	-0.28%	–
TTWO	Exit	Take Two Interactive Softwarecs	$0	–	-3,575	–	-0.30%	–
APA	Exit	APA Corporationcs	$0	–	-15,525	–	-0.31%	–
	Exit	Linde PLCcs	$0	–	-1,450	–	-0.32%	–
REGN	Exit	Regeneron Pharmaceuticalscs	$0	–	-940	–	-0.39%	–
VLO	Exit	Valerocs	$0	–	-6,975	–	-0.47%	–
CB	Exit	Chubbcs	$0	–	-6,930	–	-0.77%	–
PXD	Exit	Pioneer Natural Resourcescs	$0	–	-6,525	–	-0.78%	–
LYB	Exit	LyondellBasell Industriescs	$0	–	-15,325	–	-0.82%	–
PCAR	Exit	Paccarcs	$0	–	-18,075	–	-0.88%	–
EQT	Exit	EQT Corpcs	$0	–	-46,950	–	-1.12%	–
J	Exit	Jacobs Solutions Inc.cs	$0	–	-26,725	–	-1.84%	–

Q2 2023

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,914	–	59,000	–	3.43%	–
AAPL	New	Apple Computercs	$5,743	–	29,606	–	3.33%	–
JNJ	New	Johnson & Johnsoncs	$5,067	–	30,613	–	2.94%	–
MSFT	New	Microsoftcs	$4,801	–	14,098	–	2.78%	–
UPS	New	UPScs	$3,851	–	21,482	–	2.23%	–
CSX	New	CSX Corpcs	$3,711	–	108,819	–	2.15%	–
GOOGL	New	Alphabet Inc Class Acs	$3,601	–	30,081	–	2.09%	–
HON	New	Honeywell Int'l.cs	$3,359	–	16,189	–	1.95%	–
KO	New	Coca-Colacs	$3,301	–	54,813	–	1.92%	–
KMB	New	Kimberly Clarkcs	$3,246	–	23,513	–	1.88%	–
J	New	Jacobs Solutions Inc.cs	$3,177	–	26,725	–	1.84%	–
AMGN	New	Amgencs	$3,159	–	14,230	–	1.83%	–
ZTS	New	Zoetis Inccs	$3,143	–	18,253	–	1.82%	–
BMY	New	Bristol Myers Squibbcs	$3,079	–	48,152	–	1.79%	–
PFE	New	Pfizercs	$2,958	–	80,650	–	1.72%	–
URI	New	United Rentals, Inc.cs	$2,848	–	6,395	–	1.65%	–
BRKB	New	Berkshire Hathaway Bcs	$2,777	–	8,145	–	1.61%	–
	New	Canadian Pacific Kansas City Lcs	$2,478	–	30,681	–	1.44%	–
IBM	New	Int'l Bus. Mach.cs	$2,434	–	18,192	–	1.41%	–
CSCO	New	Cisco Systemscs	$2,305	–	44,557	–	1.34%	–
NKE	New	Nike Inc Class Bcs	$2,235	–	20,252	–	1.30%	–
EL	New	Estee Laudercs	$2,219	–	11,298	–	1.29%	–
XOM	New	Exxon Mobilcs	$2,124	–	19,805	–	1.23%	–
ABT	New	Abbott Labscs	$2,090	–	19,174	–	1.21%	–
SYY	New	Sysco Corpcs	$2,088	–	28,134	–	1.21%	–
EQT	New	EQT Corpcs	$1,931	–	46,950	–	1.12%	–
MRK	New	Merckcs	$1,884	–	16,324	–	1.09%	–
UNP	New	Union Pacificcs	$1,875	–	9,161	–	1.09%	–
COP	New	ConocoPhillipscs	$1,790	–	17,275	–	1.04%	–
TGT	New	Targetcs	$1,741	–	13,200	–	1.01%	–
SCHW	New	Charles Schwabcs	$1,713	–	30,230	–	0.99%	–
DHR	New	Danahercs	$1,709	–	7,121	–	0.99%	–
NEE	New	NextEra Energy Inc.cs	$1,688	–	22,750	–	0.98%	–
MDT	New	Medtronic PLCcs	$1,670	–	18,954	–	0.97%	–
ADI	New	Analog Devicescs	$1,622	–	8,325	–	0.94%	–
PWR	New	Quanta Servicescs	$1,599	–	8,138	–	0.93%	–
K	New	Kelloggcs	$1,536	–	22,785	–	0.89%	–
CARR	New	Carrier Globalcs	$1,523	–	30,647	–	0.88%	–
GIS	New	General Millscs	$1,521	–	19,825	–	0.88%	–
PCAR	New	Paccarcs	$1,512	–	18,075	–	0.88%	–
MS	New	Morgan Stanleycs	$1,455	–	17,042	–	0.84%	–
AMD	New	Advanced Micro Devicescs	$1,438	–	12,625	–	0.83%	–
DIS	New	Walt Disneycs	$1,436	–	16,087	–	0.83%	–
GOOG	New	Alphabet Inc Class Ccs	$1,411	–	11,660	–	0.82%	–
LYB	New	LyondellBasell Industriescs	$1,407	–	15,325	–	0.82%	–
PG	New	Procter & Gamblecs	$1,403	–	9,246	–	0.81%	–
ANTM	New	Elevance Health Inc.cs	$1,388	–	3,125	–	0.80%	–
UTHR	New	United Therapeutics Corporatiocs	$1,386	–	6,280	–	0.80%	–
PXD	New	Pioneer Natural Resourcescs	$1,352	–	6,525	–	0.78%	–
CB	New	Chubbcs	$1,334	–	6,930	–	0.77%	–
INVH	New	Invitation Homes Inc.cs	$1,328	–	38,594	–	0.77%	–
MCD	New	McDonald'scs	$1,323	–	4,432	–	0.77%	–
CVX	New	Chevron Corporationcs	$1,322	–	8,400	–	0.77%	–
AMZN	New	Amazon, Inc.cs	$1,304	–	10,000	–	0.76%	–
SPG	New	Simon Property Groupcs	$1,296	–	11,225	–	0.75%	–
TKR	New	Timkencs	$1,286	–	14,050	–	0.75%	–
UNH	New	United Healthcarecs	$1,269	–	2,640	–	0.74%	–
ALB	New	Albemarle Corp.cs	$1,199	–	5,376	–	0.70%	–
TFC	New	Truist Financial Corpcs	$1,187	–	39,105	–	0.69%	–
DVN	New	Devon Energycs	$1,161	–	24,025	–	0.67%	–
WM	New	Waste Management Inc.cs	$1,149	–	6,625	–	0.67%	–
NOC	New	Northrop Grummancs	$1,138	–	2,497	–	0.66%	–
WASH	New	Washington Trustcs	$1,128	–	42,069	–	0.65%	–
PEP	New	Pepsicocs	$1,119	–	6,043	–	0.65%	–
PRU	New	Prudential Financialcs	$1,108	–	12,564	–	0.64%	–
LHX	New	L3Harris Technologiescs	$1,108	–	5,660	–	0.64%	–
TER	New	Teradynecs	$1,108	–	9,950	–	0.64%	–
PYPL	New	PayPalcs	$1,059	–	15,875	–	0.61%	–
V	New	Visacs	$1,039	–	4,375	–	0.60%	–
CAG	New	ConAgra Foodscs	$1,038	–	30,775	–	0.60%	–
AMN	New	AMN Healthcare Servicescs	$866	–	7,940	–	0.50%	–
LLY	New	Eli Lillycs	$842	–	1,795	–	0.49%	–
VLO	New	Valerocs	$818	–	6,975	–	0.47%	–
ABBV	New	AbbVie Inc.cs	$799	–	5,933	–	0.46%	–
	New	GlaxoSmithKline ADScs	$794	–	22,270	–	0.46%	–
EMR	New	Emerson Electriccs	$793	–	8,773	–	0.46%	–
RHHBY	New	Roche Holdings Ltdcs	$713	–	18,675	–	0.41%	–
REGN	New	Regeneron Pharmaceuticalscs	$675	–	940	–	0.39%	–
SON	New	Sonoco Products Companycs	$646	–	10,950	–	0.38%	–
VZ	New	Verizon Comm.cs	$644	–	17,309	–	0.37%	–
CL	New	Colgate-Palmolivecs	$639	–	8,288	–	0.37%	–
INDB	New	Independent Bankcs	$640	–	14,383	–	0.37%	–
SBUX	New	Starbuckscs	$614	–	6,195	–	0.36%	–
SJM	New	J.M. Smucker Companycs	$554	–	3,750	–	0.32%	–
	New	Linde PLCcs	$553	–	1,450	–	0.32%	–
BA	New	Boeingcs	$550	–	2,603	–	0.32%	–
QSR	New	Restaurant Brands Int'lcs	$550	–	7,099	–	0.32%	–
CTAS	New	Cintascs	$534	–	1,075	–	0.31%	–
APA	New	APA Corporationcs	$530	–	15,525	–	0.31%	–
TTWO	New	Take Two Interactive Softwarecs	$526	–	3,575	–	0.30%	–
TDG	New	TransDigm Group Incorporatedcs	$514	–	575	–	0.30%	–
REXR	New	Rexford Industrial Realty, Inccs	$495	–	9,475	–	0.29%	–
AWK	New	American Water Workscs	$485	–	3,400	–	0.28%	–
AZN	New	Astrazenecacs	$476	–	6,650	–	0.28%	–
WMT	New	Walmart Inc.cs	$474	–	3,016	–	0.28%	–
BLL	New	Ballcs	$472	–	8,105	–	0.27%	–
NEM	New	Newmont Miningcs	$465	–	10,900	–	0.27%	–
OGN	New	Organoncs	$456	–	21,926	–	0.26%	–
TXT	New	Textroncs	$453	–	6,700	–	0.26%	–
MRVL	New	Marvell Technologiescs	$438	–	7,325	–	0.25%	–
WCN	New	Waste Connections, Inc.cs	$431	–	3,014	–	0.25%	–
WAT	New	Waterscs	$422	–	1,585	–	0.24%	–
CFG	New	Citizens Financial Groupcs	$398	–	15,265	–	0.23%	–
ZBRA	New	Zebra Technologiescs	$399	–	1,350	–	0.23%	–
CCI	New	Crown Castle Inc.cs	$390	–	3,420	–	0.23%	–
WPC	New	W.P. Carey & Co.cs	$374	–	5,537	–	0.22%	–
GLW	New	Corningcs	$369	–	10,525	–	0.21%	–
NFLX	New	Netflixcs	$363	–	825	–	0.21%	–
MXL	New	MaxLinear, Inc.cs	$359	–	11,374	–	0.21%	–
FLR	New	Fluorcs	$354	–	11,950	–	0.20%	–
DAR	New	Darling Ingredients Inc.cs	$349	–	5,475	–	0.20%	–
MMM	New	3M Corp.cs	$342	–	3,420	–	0.20%	–
	New	General Electriccs	$330	–	3,003	–	0.19%	–
SHW	New	Sherwin-Williamscs	$325	–	1,225	–	0.19%	–
XYL	New	Xylem Inccs	$309	–	2,744	–	0.18%	–
ENB	New	Enbridge Inccs	$287	–	7,725	–	0.17%	–
CMCSA	New	Comcast Corp Cl Acs	$287	–	6,900	–	0.17%	–
ADBE	New	Adobe Systemscs	$281	–	575	–	0.16%	–
EQNR	New	Equinor ASAcs	$280	–	9,595	–	0.16%	–
SLB	New	Schlumbergercs	$270	–	5,492	–	0.16%	–
IBP	New	Installed Building Products Incs	$270	–	1,925	–	0.16%	–
LDOS	New	Leidos Holdings, Inc.cs	$267	–	3,013	–	0.16%	–
DRI	New	Darden Restaurantscs	$266	–	1,591	–	0.15%	–
INTU	New	Intuit Inc.cs	$263	–	575	–	0.15%	–
NSC	New	Norfolk Southerncs	$255	–	1,125	–	0.15%	–
MPC	New	Marathon Petroleumcs	$232	–	1,993	–	0.14%	–
TSEM	New	Tower Semiconductorcs	$231	–	6,150	–	0.13%	–
OVV	New	Ovintiv Inc.cs	$227	–	5,950	–	0.13%	–
RVNC	New	Revance Therapeuticscs	$225	–	8,875	–	0.13%	–
ALL	New	Allstatecs	$218	–	2,000	–	0.13%	–
INMD	New	InMode Ltd.cs	$218	–	5,825	–	0.13%	–
GMRE	New	Global Medical REIT Inc.cs	$93	–	10,142	–	0.05%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
F	Exit	Ford Motorcs	$0	–	-11,350	–	-0.08%	–
	Exit	Haleon plccs	$0	–	-29,750	–	-0.11%	–
GMRE	Exit	Global Medical REIT Inc.cs	$0	–	-22,825	–	-0.12%	–
NTR	Exit	Nutrien Ltd.cs	$0	–	-2,400	–	-0.13%	–
CMCSA	Exit	Comcast Corp Cl Acs	$0	–	-6,900	–	-0.13%	–
DRI	Exit	Darden Restaurantscs	$0	–	-1,600	–	-0.13%	–
DXCM	Exit	DexCom, Inc.cs	$0	–	-2,590	–	-0.13%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-2,700	–	-0.13%	–
XYL	Exit	Xylem Inccs	$0	–	-2,600	–	-0.14%	–
SRE	Exit	Sempra Energycs	$0	–	-1,550	–	-0.15%	–
K	Exit	Kelloggcs	$0	–	-3,310	–	-0.15%	–
INTU	Exit	Intuit Inc.cs	$0	–	-600	–	-0.15%	–
TSN	Exit	Tyson Foodscs	$0	–	-3,550	–	-0.15%	–
MAS	Exit	Masco Corpcs	$0	–	-5,010	–	-0.15%	–
PPG	Exit	PPG Industriescs	$0	–	-2,145	–	-0.15%	–
AAP	Exit	Advance Auto Parts, Inccs	$0	–	-1,550	–	-0.15%	–
SCHW	Exit	Charles Schwabcs	$0	–	-3,350	–	-0.15%	–
ALL	Exit	Allstatecs	$0	–	-2,000	–	-0.16%	–
MPC	Exit	Marathon Petroleumcs	$0	–	-2,543	–	-0.16%	–
FLIC	Exit	The First of Long Island Corpocs	$0	–	-14,625	–	-0.16%	–
SHW	Exit	Sherwin-Williamscs	$0	–	-1,250	–	-0.16%	–
CME	Exit	CME Groupcs	$0	–	-1,475	–	-0.16%	–
DCI	Exit	Donaldson Company Inc.cs	$0	–	-5,325	–	-0.16%	–
APD	Exit	Air Prod.& Chem.cs	$0	–	-1,225	–	-0.18%	–
MA	Exit	Mastercard Inccs	$0	–	-1,035	–	-0.18%	–
COST	Exit	Costco Wholesalecs	$0	–	-625	–	-0.19%	–
	Exit	General Electriccs	$0	–	-4,962	–	-0.19%	–
INTC	Exit	Intelcs	$0	–	-11,983	–	-0.20%	–
BA	Exit	Boeingcs	$0	–	-2,613	–	-0.20%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-6,049	–	-0.20%	–
EMR	Exit	Emerson Electriccs	$0	–	-4,623	–	-0.21%	–
GNRC	Exit	Generac Holdingscs	$0	–	-1,900	–	-0.21%	–
CCI	Exit	Crown Castle Inc.cs	$0	–	-2,350	–	-0.21%	–
BEN	Exit	Franklin Resourcescs	$0	–	-15,985	–	-0.22%	–
FB	Exit	Meta Platforms Inc.cs	$0	–	-2,591	–	-0.22%	–
CNC	Exit	Centenecs	$0	–	-4,550	–	-0.22%	–
HOLX	Exit	Hologic, Inc.cs	$0	–	-5,500	–	-0.22%	–
NXPI	Exit	NXP Semiconductorscs	$0	–	-2,500	–	-0.23%	–
WY	Exit	Weyerhaeusercs	$0	–	-13,040	–	-0.23%	–
AZN	Exit	Astrazenecacs	$0	–	-6,850	–	-0.24%	–
WBA	Exit	Walgreens Boots Alliancecs	$0	–	-12,315	–	-0.24%	–
ALK	Exit	Alaska Aircs	$0	–	-10,050	–	-0.25%	–
WPC	Exit	W.P. Carey & Co.cs	$0	–	-5,712	–	-0.25%	–
ENS	Exit	EnerSyscs	$0	–	-6,953	–	-0.26%	–
AQUA	Exit	Evoqua Water Technologiescs	$0	–	-12,550	–	-0.26%	–
V	Exit	Visacs	$0	–	-2,390	–	-0.27%	–
MRVL	Exit	Marvell Technologiescs	$0	–	-10,315	–	-0.28%	–
GD	Exit	General Dynamicscs	$0	–	-2,104	–	-0.28%	–
OVV	Exit	Ovintiv Inc.cs	$0	–	-9,950	–	-0.29%	–
J	Exit	Jacobs Solutions Inc.cs	$0	–	-4,250	–	-0.29%	–
OGN	Exit	Organoncs	$0	–	-19,729	–	-0.29%	–
EQT	Exit	EQT Corpcs	$0	–	-11,725	–	-0.30%	–
PNR	Exit	Pentaircs	$0	–	-11,825	–	-0.30%	–
LLY	Exit	Eli Lillycs	$0	–	-1,495	–	-0.30%	–
COP	Exit	ConocoPhillipscs	$0	–	-4,725	–	-0.30%	–
CB	Exit	Chubbcs	$0	–	-2,680	–	-0.31%	–
CE	Exit	Celanese Corporationcs	$0	–	-5,500	–	-0.31%	–
AWK	Exit	American Water Workscs	$0	–	-3,950	–	-0.32%	–
SBUX	Exit	Starbuckscs	$0	–	-6,245	–	-0.33%	–
IR	Exit	Ingersoll-Randcs	$0	–	-12,350	–	-0.34%	–
AR	Exit	Antero Resourcescs	$0	–	-17,650	–	-0.34%	–
TDG	Exit	TransDigm Group Incorporatedcs	$0	–	-1,045	–	-0.34%	–
KR	Exit	Krogercs	$0	–	-12,555	–	-0.35%	–
CMI	Exit	Cumminscs	$0	–	-2,750	–	-0.35%	–
QCOM	Exit	Qualcommcs	$0	–	-5,000	–	-0.36%	–
DD	Exit	DuPont Inccs	$0	–	-11,416	–	-0.36%	–
DAR	Exit	Darling Ingredients Inc.cs	$0	–	-8,875	–	-0.37%	–
MHK	Exit	Mohawk Industriescs	$0	–	-6,550	–	-0.38%	–
ABB	Exit	ABB LTDcs	$0	–	-23,350	–	-0.38%	–
AMZN	Exit	Amazon, Inc.cs	$0	–	-5,475	–	-0.39%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-8,838	–	-0.39%	–
GIS	Exit	General Millscs	$0	–	-8,125	–	-0.39%	–
PYPL	Exit	PayPalcs	$0	–	-7,350	–	-0.40%	–
LYB	Exit	LyondellBasell Industriescs	$0	–	-8,500	–	-0.40%	–
REGN	Exit	Regeneron Pharmaceuticalscs	$0	–	-932	–	-0.40%	–
MET	Exit	MetLifecs	$0	–	-11,050	–	-0.42%	–
AMD	Exit	Advanced Micro Devicescs	$0	–	-10,636	–	-0.42%	–
BAX	Exit	Baxter Internationalcs	$0	–	-12,515	–	-0.42%	–
TD	Exit	Toronto-Dominion Bankcs	$0	–	-11,175	–	-0.43%	–
WMT	Exit	Walmart Inc.cs	$0	–	-5,436	–	-0.44%	–
VZ	Exit	Verizon Comm.cs	$0	–	-18,665	–	-0.45%	–
REXR	Exit	Rexford Industrial Realty, Inccs	$0	–	-14,100	–	-0.46%	–
CVX	Exit	Chevron Corporationcs	$0	–	-5,300	–	-0.48%	–
	Exit	GlaxoSmithKline ADScs	$0	–	-26,040	–	-0.48%	–
MS	Exit	Morgan Stanleycs	$0	–	-9,942	–	-0.50%	–
IDXX	Exit	Idexx Laboratoriescs	$0	–	-2,500	–	-0.51%	–
JPM	Exit	J.P. Morgan Chasecs	$0	–	-7,835	–	-0.52%	–
CFR	Exit	Cullen/Frost Bankerscs	$0	–	-6,325	–	-0.53%	–
DHR	Exit	Danahercs	$0	–	-3,281	–	-0.53%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-21,150	–	-0.54%	–
SLB	Exit	Schlumbergercs	$0	–	-24,001	–	-0.54%	–
NTDOY	Exit	Nintendo Cocs	$0	–	-16,905	–	-0.54%	–
ROL	Exit	Rollinscs	$0	–	-25,175	–	-0.55%	–
ENB	Exit	Enbridge Inccs	$0	–	-24,525	–	-0.57%	–
ARW	Exit	Arrow Electronicscs	$0	–	-10,250	–	-0.60%	–
ODFL	Exit	Old Dominion Freight Linecs	$0	–	-3,895	–	-0.61%	–
LDOS	Exit	Leidos Holdings, Inc.cs	$0	–	-11,163	–	-0.62%	–
INVH	Exit	Invitation Homes Inc.cs	$0	–	-30,319	–	-0.64%	–
AXP	Exit	American Expresscs	$0	–	-7,645	–	-0.65%	–
RTX	Exit	Raytheon Technologiescs	$0	–	-12,650	–	-0.65%	–
EOG	Exit	EOG Resourcescs	$0	–	-9,330	–	-0.66%	–
SPG	Exit	Simon Property Groupcs	$0	–	-11,745	–	-0.66%	–
EQNR	Exit	Equinor ASAcs	$0	–	-32,070	–	-0.67%	–
HD	Exit	Home Depotcs	$0	–	-3,864	–	-0.67%	–
WM	Exit	Waste Management Inc.cs	$0	–	-6,725	–	-0.68%	–
CNI	Exit	Canadian Natl Railcs	$0	–	-10,270	–	-0.70%	–
INDB	Exit	Independent Bankcs	$0	–	-14,958	–	-0.70%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-9,385	–	-0.70%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-32,600	–	-0.71%	–
TXT	Exit	Textroncs	$0	–	-19,500	–	-0.72%	–
VLO	Exit	Valerocs	$0	–	-10,650	–	-0.72%	–
UTHR	Exit	United Therapeutics Corporatiocs	$0	–	-5,550	–	-0.73%	–
PG	Exit	Procter & Gamblecs	$0	–	-9,246	–	-0.74%	–
SYY	Exit	Sysco Corpcs	$0	–	-16,684	–	-0.74%	–
MCD	Exit	McDonald'scs	$0	–	-5,117	–	-0.74%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-9,130	–	-0.77%	–
LHX	Exit	L3Harris Technologiescs	$0	–	-6,100	–	-0.80%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-13,400	–	-0.81%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-15,644	–	-0.82%	–
FANG	Exit	Diamondback Energy Inccs	$0	–	-11,000	–	-0.84%	–
EL	Exit	Estee Laudercs	$0	–	-6,223	–	-0.85%	–
HLT	Exit	Hilton Hotelscs	$0	–	-11,400	–	-0.87%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-21,625	–	-0.91%	–
PXD	Exit	Pioneer Natural Resourcescs	$0	–	-6,875	–	-0.94%	–
MMM	Exit	3M Corp.cs	$0	–	-13,542	–	-0.94%	–
DIS	Exit	Walt Disneycs	$0	–	-15,972	–	-0.95%	–
MDT	Exit	Medtronic PLCcs	$0	–	-18,864	–	-0.96%	–
PEP	Exit	Pepsicocs	$0	–	-9,565	–	-0.98%	–
CP	Exit	Canadian Pacificcs	$0	–	-23,510	–	-0.99%	–
PWR	Exit	Quanta Servicescs	$0	–	-12,675	–	-1.02%	–
CARR	Exit	Carrier Globalcs	$0	–	-46,150	–	-1.03%	–
XOM	Exit	Exxon Mobilcs	$0	–	-19,825	–	-1.09%	–
PRU	Exit	Prudential Financialcs	$0	–	-21,461	–	-1.16%	–
DE	Exit	Deerecs	$0	–	-5,560	–	-1.17%	–
WASH	Exit	Washington Trustcs	$0	–	-43,454	–	-1.27%	–
ABT	Exit	Abbott Labscs	$0	–	-21,544	–	-1.31%	–
TFC	Exit	Truist Financial Corpcs	$0	–	-50,640	–	-1.39%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-13,589	–	-1.43%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-8,666	–	-1.46%	–
ANTM	Exit	Elevance Health Inc.cs	$0	–	-5,440	–	-1.56%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-35,347	–	-1.58%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-9,361	–	-1.59%	–
ZTS	Exit	Zoetis Inccs	$0	–	-17,203	–	-1.61%	–
UPS	Exit	UPScs	$0	–	-16,062	–	-1.64%	–
UNP	Exit	Union Pacificcs	$0	–	-13,511	–	-1.66%	–
MRK	Exit	Merckcs	$0	–	-31,359	–	-1.70%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-24,413	–	-1.73%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-29,085	–	-1.75%	–
CSCO	Exit	Cisco Systemscs	$0	–	-70,238	–	-1.77%	–
CSX	Exit	CSX Corpcs	$0	–	-106,244	–	-1.78%	–
PFE	Exit	Pfizercs	$0	–	-74,118	–	-2.04%	–
KO	Exit	Coca-Colacs	$0	–	-59,838	–	-2.11%	–
AAPL	Exit	Apple Computercs	$0	–	-28,866	–	-2.51%	–
MSFT	Exit	Microsoftcs	$0	–	-17,641	–	-2.59%	–
CHD	Exit	Church and Dwightcs	$0	–	-60,100	–	-2.70%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-29,532	–	-3.04%	–

Q3 2022

			Value		Shares		↓ Weighting
JNJ	Buy	Johnson & Johnsoncs	$4,824,000	-0.3%	29,532	+8.3%	3.04%	+7.9%
MSFT	Buy	Microsoftcs	$4,109,000	+3.0%	17,641	+13.6%	2.59%	+11.5%
AAPL	Sell	Apple Computercs	$3,989,000	-3.0%	28,866	-4.1%	2.51%	+4.9%
KO	Buy	Coca-Colacs	$3,352,000	+14.1%	59,838	+28.2%	2.11%	+23.5%
PFE	Sell	Pfizercs	$3,243,000	-16.9%	74,118	-0.5%	2.04%	-10.1%
CSX	Sell	CSX Corpcs	$2,830,000	-9.4%	106,244	-1.1%	1.78%	-1.9%
CSCO	Buy	Cisco Systemscs	$2,810,000	+11.4%	70,238	+18.7%	1.77%	+20.5%
GOOGL	Buy	Alphabet Inc Class Acs	$2,782,000	+5.3%	29,085	+2299.8%	1.75%	+14.0%
KMB	Buy	Kimberly Clarkcs	$2,747,000	-2.6%	24,413	+17.0%	1.73%	+5.4%
MRK	Buy	Merckcs	$2,701,000	+0.7%	31,359	+6.5%	1.70%	+9.0%
UNP	Buy	Union Pacificcs	$2,632,000	+2.1%	13,511	+11.7%	1.66%	+10.4%
UPS	Sell	UPScs	$2,595,000	-15.7%	16,062	-4.8%	1.64%	-8.8%
ZTS	Buy	Zoetis Inccs	$2,551,000	-7.3%	17,203	+7.5%	1.61%	+0.3%
URI	Sell	United Rentals, Inc.cs	$2,529,000	+7.5%	9,361	-3.3%	1.59%	+16.4%
BMY	Buy	Bristol Myers Squibbcs	$2,513,000	+32.5%	35,347	+43.5%	1.58%	+43.4%
ANTM	Buy	Elevance Health Inc.cs	$2,471,000	+13.4%	5,440	+20.5%	1.56%	+22.7%
BRKB	Sell	Berkshire Hathaway Bcs	$2,314,000	-6.0%	8,666	-3.9%	1.46%	+1.7%
HON	Buy	Honeywell Int'l.cs	$2,269,000	-0.8%	13,589	+3.2%	1.43%	+7.4%
TFC	Buy	Truist Financial Corpcs	$2,205,000	-6.8%	50,640	+1.6%	1.39%	+0.9%
ABT	Sell	Abbott Labscs	$2,085,000	-43.3%	21,544	-36.4%	1.31%	-38.7%
WASH	Buy	Washington Trustcs	$2,020,000	-3.0%	43,454	+0.9%	1.27%	+4.9%
DE	Buy	Deerecs	$1,856,000	+11.9%	5,560	+0.5%	1.17%	+21.1%
PRU	Buy	Prudential Financialcs	$1,841,000	-4.4%	21,461	+6.6%	1.16%	+3.5%
CARR	Buy	Carrier Globalcs	$1,641,000	+77.6%	46,150	+78.2%	1.03%	+92.2%
PWR	Buy	Quanta Servicescs	$1,615,000	+79.6%	12,675	+76.7%	1.02%	+94.6%
CP	Sell	Canadian Pacificcs	$1,569,000	-28.2%	23,510	-24.9%	0.99%	-22.2%
PEP	Buy	Pepsicocs	$1,562,000	0.0%	9,565	+2.1%	0.98%	+8.3%
MDT	Sell	Medtronic PLCcs	$1,523,000	-11.1%	18,864	-1.2%	0.96%	-3.8%
DIS	Sell	Walt Disneycs	$1,507,000	-6.1%	15,972	-6.0%	0.95%	+1.6%
MMM	Buy	3M Corp.cs	$1,496,000	-14.5%	13,542	+0.2%	0.94%	-7.4%
PXD	Buy	Pioneer Natural Resourcescs	$1,489,000	+24.2%	6,875	+27.9%	0.94%	+34.4%
PB	Sell	Prosperity Bancshares, Inc.cs	$1,442,000	-30.2%	21,625	-28.5%	0.91%	-24.4%
HLT	Sell	Hilton Hotelscs	$1,375,000	+7.8%	11,400	-0.4%	0.87%	+16.6%
EL	Buy	Estee Laudercs	$1,344,000	+5.1%	6,223	+23.9%	0.85%	+13.7%
FANG	Sell	Diamondback Energy Inccs	$1,325,000	-33.5%	11,000	-33.1%	0.84%	-28.0%
NKE	Buy	Nike Inc Class Bcs	$1,300,000	+1.2%	15,644	+24.5%	0.82%	+9.5%
GOOG	Buy	Alphabet Inc Class Ccs	$1,288,000	-12.1%	13,400	+1900.0%	0.81%	-5.0%
LHX	Buy	L3Harris Technologiescs	$1,268,000	+20.6%	6,100	+40.2%	0.80%	+30.6%
ABBV	Buy	AbbVie Inc.cs	$1,225,000	+32.6%	9,130	+51.4%	0.77%	+43.5%
MCD	Sell	McDonald'scs	$1,181,000	-20.0%	5,117	-14.4%	0.74%	-13.4%
SYY	Buy	Sysco Corpcs	$1,180,000	-16.0%	16,684	+0.6%	0.74%	-9.2%
PG	Buy	Procter & Gamblecs	$1,167,000	-11.3%	9,246	+1.1%	0.74%	-4.0%
UTHR	New	United Therapeutics Corporatiocs	$1,162,000	–	5,550	–	0.73%	–
VLO	Buy	Valerocs	$1,138,000	+51.3%	10,650	+50.5%	0.72%	+63.7%
TXT	Sell	Textroncs	$1,136,000	-12.3%	19,500	-8.0%	0.72%	-5.0%
CFG	Buy	Citizens Financial Groupcs	$1,120,000	-1.8%	32,600	+2.0%	0.71%	+6.3%
INDB	Buy	Independent Bankcs	$1,115,000	-3.5%	14,958	+2.7%	0.70%	+4.3%
IBM	Buy	Int'l Bus. Mach.cs	$1,115,000	-5.5%	9,385	+12.3%	0.70%	+2.2%
CNI	Sell	Canadian Natl Railcs	$1,109,000	-5.4%	10,270	-1.4%	0.70%	+2.5%
WM	Sell	Waste Management Inc.cs	$1,077,000	+4.0%	6,725	-0.7%	0.68%	+12.6%
HD	Sell	Home Depotcs	$1,066,000	-1.9%	3,864	-2.5%	0.67%	+6.2%
EQNR	Buy	Equinor ASAcs	$1,062,000	+83.1%	32,070	+92.3%	0.67%	+97.9%
SPG	Buy	Simon Property Groupcs	$1,054,000	-3.8%	11,745	+1.7%	0.66%	+4.1%
EOG	Buy	EOG Resourcescs	$1,042,000	+64.6%	9,330	+62.8%	0.66%	+77.8%
RTX	Buy	Raytheon Technologiescs	$1,036,000	+14.7%	12,650	+34.6%	0.65%	+24.1%
AXP	Sell	American Expresscs	$1,031,000	-5.8%	7,645	-3.2%	0.65%	+1.9%
INVH	Sell	Invitation Homes Inc.cs	$1,024,000	-7.2%	30,319	-2.3%	0.64%	+0.3%
LDOS	Sell	Leidos Holdings, Inc.cs	$976,000	-13.9%	11,163	-0.9%	0.62%	-6.8%
ODFL	Sell	Old Dominion Freight Linecs	$969,000	-7.8%	3,895	-5.0%	0.61%	-0.2%
ARW	New	Arrow Electronicscs	$945,000	–	10,250	–	0.60%	–
ENB	Buy	Enbridge Inccs	$910,000	+12.3%	24,525	+27.9%	0.57%	+21.4%
ROL	New	Rollinscs	$873,000	–	25,175	–	0.55%	–
SLB	Sell	Schlumbergercs	$862,000	-2.4%	24,001	-2.8%	0.54%	+5.6%
NTDOY	Sell	Nintendo Cocs	$862,000	-6.1%	16,905	-0.9%	0.54%	+1.7%
DHR	New	Danahercs	$847,000	–	3,281	–	0.53%	–
CFR	Sell	Cullen/Frost Bankerscs	$836,000	+10.0%	6,325	-3.1%	0.53%	+19.2%
JPM	Sell	J.P. Morgan Chasecs	$819,000	-9.8%	7,835	-2.8%	0.52%	-2.5%
IDXX	New	Idexx Laboratoriescs	$815,000	–	2,500	–	0.51%	–
MS	Sell	Morgan Stanleycs	$786,000	+0.9%	9,942	-2.9%	0.50%	+9.0%
	New	GlaxoSmithKline ADScs	$766,000	–	26,040	–	0.48%	–
CVX	Buy	Chevron Corporationcs	$761,000	+166.1%	5,300	+168.4%	0.48%	+186.8%
REXR	New	Rexford Industrial Realty, Inccs	$733,000	–	14,100	–	0.46%	–
VZ	Sell	Verizon Comm.cs	$709,000	-27.1%	18,665	-2.6%	0.45%	-21.0%
WMT	Sell	Walmart Inc.cs	$705,000	-72.9%	5,436	-74.6%	0.44%	-70.7%
TD	Sell	Toronto-Dominion Bankcs	$685,000	-7.3%	11,175	-0.9%	0.43%	+0.5%
BAX	Sell	Baxter Internationalcs	$674,000	-17.5%	12,515	-1.6%	0.42%	-10.7%
AMD	Buy	Advanced Micro Devicescs	$674,000	+6.0%	10,636	+28.0%	0.42%	+14.9%
MET	Sell	MetLifecs	$672,000	-6.1%	11,050	-3.1%	0.42%	+1.4%
REGN	Sell	Regeneron Pharmaceuticalscs	$642,000	+9.6%	932	-6.0%	0.40%	+18.5%
LYB	Sell	LyondellBasell Industriescs	$640,000	-14.9%	8,500	-1.2%	0.40%	-8.0%
PYPL	Buy	PayPalcs	$633,000	+72.5%	7,350	+39.7%	0.40%	+86.4%
GIS	Sell	General Millscs	$622,000	+0.8%	8,125	-0.6%	0.39%	+9.2%
CL	Sell	Colgate-Palmolivecs	$621,000	-13.3%	8,838	-1.1%	0.39%	-6.2%
AMZN	New	Amazon, Inc.cs	$619,000	–	5,475	–	0.39%	–
ABB	New	ABB LTDcs	$599,000	–	23,350	–	0.38%	–
MHK	New	Mohawk Industriescs	$597,000	–	6,550	–	0.38%	–
DAR	Sell	Darling Ingredients Inc.cs	$587,000	-5.8%	8,875	-14.9%	0.37%	+1.9%
DD	Sell	DuPont Inccs	$575,000	-10.3%	11,416	-1.0%	0.36%	-2.9%
QCOM	Sell	Qualcommcs	$565,000	-51.6%	5,000	-45.3%	0.36%	-47.6%
CMI	New	Cumminscs	$560,000	–	2,750	–	0.35%	–
KR	New	Krogercs	$549,000	–	12,555	–	0.35%	–
TDG	Sell	TransDigm Group Incorporatedcs	$548,000	-26.2%	1,045	-24.5%	0.34%	-20.3%
AR	New	Antero Resourcescs	$539,000	–	17,650	–	0.34%	–
SBUX	Sell	Starbuckscs	$526,000	-28.9%	6,245	-35.6%	0.33%	-23.2%
AWK	New	American Water Workscs	$514,000	–	3,950	–	0.32%	–
CE	New	Celanese Corporationcs	$497,000	–	5,500	–	0.31%	–
CB	New	Chubbcs	$487,000	–	2,680	–	0.31%	–
COP	New	ConocoPhillipscs	$484,000	–	4,725	–	0.30%	–
LLY	Buy	Eli Lillycs	$483,000	+15.8%	1,495	+16.3%	0.30%	+25.1%
PNR	New	Pentaircs	$480,000	–	11,825	–	0.30%	–
EQT	Sell	EQT Corpcs	$478,000	+8.4%	11,725	-8.6%	0.30%	+17.1%
OGN	New	Organoncs	$462,000	–	19,729	–	0.29%	–
J	New	Jacobs Solutions Inc.cs	$461,000	–	4,250	–	0.29%	–
OVV	New	Ovintiv Inc.cs	$458,000	–	9,950	–	0.29%	–
GD	Buy	General Dynamicscs	$446,000	+111.4%	2,104	+121.0%	0.28%	+128.5%
MRVL	Sell	Marvell Technologiescs	$443,000	-43.8%	10,315	-43.0%	0.28%	-39.2%
V	Buy	Visacs	$425,000	+47.6%	2,390	+63.1%	0.27%	+59.5%
AQUA	New	Evoqua Water Technologiescs	$415,000	–	12,550	–	0.26%	–
ENS	New	EnerSyscs	$404,000	–	6,953	–	0.26%	–
WPC	New	W.P. Carey & Co.cs	$399,000	–	5,712	–	0.25%	–
ALK	New	Alaska Aircs	$393,000	–	10,050	–	0.25%	–
WBA	Sell	Walgreens Boots Alliancecs	$387,000	-17.8%	12,315	-0.8%	0.24%	-10.9%
WY	Buy	Weyerhaeusercs	$372,000	-13.7%	13,040	+0.2%	0.23%	-6.8%
NXPI	New	NXP Semiconductorscs	$369,000	–	2,500	–	0.23%	–
CNC	Sell	Centenecs	$354,000	-67.3%	4,550	-64.5%	0.22%	-64.7%
FB	Sell	Meta Platforms Inc.cs	$352,000	-17.4%	2,591	-1.9%	0.22%	-10.5%
BEN	Sell	Franklin Resourcescs	$344,000	-12.7%	15,985	-5.3%	0.22%	-5.2%
CCI	New	Crown Castle Inc.cs	$340,000	–	2,350	–	0.21%	–
EMR	Buy	Emerson Electriccs	$338,000	-5.8%	4,623	+2.3%	0.21%	+1.9%
GNRC	New	Generac Holdingscs	$338,000	–	1,900	–	0.21%	–
INTC	Sell	Intelcs	$309,000	-35.6%	11,983	-6.6%	0.20%	-30.1%
COST	New	Costco Wholesalecs	$295,000	–	625	–	0.19%	–
MA	Sell	Mastercard Inccs	$294,000	-17.2%	1,035	-8.0%	0.18%	-10.6%
APD	New	Air Prod.& Chem.cs	$285,000	–	1,225	–	0.18%	–
CME	New	CME Groupcs	$261,000	–	1,475	–	0.16%	–
FLIC	Sell	The First of Long Island Corpocs	$252,000	-5.6%	14,625	-3.9%	0.16%	+2.6%
MPC	Sell	Marathon Petroleumcs	$253,000	-67.6%	2,543	-73.2%	0.16%	-65.0%
SCHW	New	Charles Schwabcs	$241,000	–	3,350	–	0.15%	–
AAP	New	Advance Auto Parts, Inccs	$242,000	–	1,550	–	0.15%	–
PPG	New	PPG Industriescs	$237,000	–	2,145	–	0.15%	–
TSN	New	Tyson Foodscs	$234,000	–	3,550	–	0.15%	–
MAS	New	Masco Corpcs	$234,000	–	5,010	–	0.15%	–
SRE	New	Sempra Energycs	$232,000	–	1,550	–	0.15%	–
K	Sell	Kelloggcs	$231,000	-4.9%	3,310	-2.9%	0.15%	+3.5%
INTU	Buy	Intuit Inc.cs	$232,000	+9.4%	600	+9.1%	0.15%	+18.7%
NEE	Sell	NextEra Energy Inc.cs	$212,000	-52.4%	2,700	-53.0%	0.13%	-48.3%
DXCM	New	DexCom, Inc.cs	$209,000	–	2,590	–	0.13%	–
DRI	New	Darden Restaurantscs	$202,000	–	1,600	–	0.13%	–
NTR	Sell	Nutrien Ltd.cs	$200,000	-84.4%	2,400	-85.1%	0.13%	-83.1%
GMRE	Sell	Global Medical REIT Inc.cs	$194,000	-25.7%	22,825	-1.7%	0.12%	-19.7%
	New	Haleon plccs	$181,000	–	29,750	–	0.11%	–
F	New	Ford Motorcs	$127,000	–	11,350	–	0.08%	–
HPE	Exit	Hewlett Packard Enterprisecs	$0	–	-12,650	–	-0.10%	–
EXPE	Exit	Expediacs	$0	–	-2,340	–	-0.13%	–
HWM	Exit	Howmet Aerospace Inc.cs	$0	–	-7,250	–	-0.13%	–
SUM	Exit	Summit Materials Inccs	$0	–	-9,911	–	-0.13%	–
ORCL	Exit	Oraclecs	$0	–	-3,509	–	-0.14%	–
CLF	Exit	Cleveland-Cliffs Inc.cs	$0	–	-16,175	–	-0.14%	–
ZEUS	Exit	Olympic Steel, Inc.cs	$0	–	-10,145	–	-0.15%	–
NSC	Exit	Norfolk Southerncs	$0	–	-1,260	–	-0.17%	–
NUE	Exit	Nucorcs	$0	–	-3,135	–	-0.19%	–
VNO	Exit	Vornado Realty Trustcs	$0	–	-11,645	–	-0.19%	–
RIO	Exit	Rio Tintocs	$0	–	-5,950	–	-0.21%	–
COF	Exit	Capital One Finl.cs	$0	–	-3,805	–	-0.23%	–
KNX	Exit	Knight Swift Transportationcs	$0	–	-10,495	–	-0.28%	–
AXTA	Exit	Axalta Coating Systemscs	$0	–	-23,425	–	-0.30%	–
ELAN	Exit	Elanco Animal Healthcs	$0	–	-26,400	–	-0.30%	–
CCJ	Exit	Camecocs	$0	–	-27,450	–	-0.34%	–
BX	Exit	Blackstone Inccs	$0	–	-6,800	–	-0.36%	–
FCX	Exit	Freeport McMorancs	$0	–	-24,838	–	-0.42%	–
GILD	Exit	Gilead Sciencescs	$0	–	-12,350	–	-0.44%	–
FISV	Exit	Fiserv Inc.cs	$0	–	-8,601	–	-0.44%	–
STLD	Exit	Steel Dynamicscs	$0	–	-11,745	–	-0.45%	–
SJM	Exit	J.M. Smucker Companycs	$0	–	-6,125	–	-0.46%	–
LII	Exit	Lennox International Inc.cs	$0	–	-3,935	–	-0.47%	–
ALB	Exit	Albemarle Corp.cs	$0	–	-4,175	–	-0.51%	–
KLAC	Exit	KLA Tencorcs	$0	–	-2,800	–	-0.52%	–
H	Exit	Hyatt Hotels Corpcs	$0	–	-12,200	–	-0.52%	–
GSK	Exit	GSK plccs	$0	–	-21,900	–	-0.56%	–
AVT	Exit	Avnetcs	$0	–	-22,780	–	-0.57%	–
DVN	Exit	Devon Energycs	$0	–	-21,382	–	-0.69%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-13,045	–	-0.70%	–
AME	Exit	Ametekcs	$0	–	-11,445	–	-0.73%	–
CHRW	Exit	C.H. Robinson Worldwidecs	$0	–	-13,675	–	-0.81%	–
LNG	Exit	Cheniere Energy, Inc.cs	$0	–	-20,000	–	-1.55%	–

Q2 2022

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,569,000	–	60,100	–	3.24%	–
JNJ	New	Johnson & Johnsoncs	$4,838,000	–	27,257	–	2.82%	–
AAPL	New	Apple Computercs	$4,114,000	–	30,092	–	2.40%	–
MSFT	New	Microsoftcs	$3,989,000	–	15,531	–	2.32%	–
PFE	New	Pfizercs	$3,904,000	–	74,462	–	2.27%	–
ABT	New	Abbott Labscs	$3,680,000	–	33,868	–	2.14%	–
CSX	New	CSX Corpcs	$3,122,000	–	107,444	–	1.82%	–
UPS	New	UPScs	$3,079,000	–	16,867	–	1.79%	–
KO	New	Coca-Colacs	$2,937,000	–	46,688	–	1.71%	–
KMB	New	Kimberly Clarkcs	$2,820,000	–	20,863	–	1.64%	–
ZTS	New	Zoetis Inccs	$2,751,000	–	16,003	–	1.60%	–
MRK	New	Merckcs	$2,683,000	–	29,434	–	1.56%	–
LNG	New	Cheniere Energy, Inc.cs	$2,661,000	–	20,000	–	1.55%	–
GOOGL	New	Alphabet Inc Class Acs	$2,641,000	–	1,212	–	1.54%	–
WMT	New	Walmart Inc.cs	$2,605,000	–	21,429	–	1.52%	–
UNP	New	Union Pacificcs	$2,579,000	–	12,091	–	1.50%	–
CSCO	New	Cisco Systemscs	$2,523,000	–	59,168	–	1.47%	–
BRKB	New	Berkshire Hathaway Bcs	$2,462,000	–	9,016	–	1.43%	–
TFC	New	Truist Financial Corpcs	$2,365,000	–	49,860	–	1.38%	–
URI	New	United Rentals, Inc.cs	$2,352,000	–	9,682	–	1.37%	–
HON	New	Honeywell Int'l.cs	$2,288,000	–	13,166	–	1.33%	–
CP	New	Canadian Pacificcs	$2,185,000	–	31,290	–	1.27%	–
ANTM	New	Elevance Health Inc.cs	$2,179,000	–	4,515	–	1.27%	–
WASH	New	Washington Trustcs	$2,083,000	–	43,054	–	1.21%	–
PB	New	Prosperity Bancshares, Inc.cs	$2,065,000	–	30,250	–	1.20%	–
FANG	New	Diamondback Energy Inccs	$1,993,000	–	16,450	–	1.16%	–
PRU	New	Prudential Financialcs	$1,926,000	–	20,131	–	1.12%	–
BMY	New	Bristol Myers Squibbcs	$1,897,000	–	24,632	–	1.10%	–
MMM	New	3M Corp.cs	$1,749,000	–	13,512	–	1.02%	–
MDT	New	Medtronic PLCcs	$1,714,000	–	19,099	–	1.00%	–
XOM	New	Exxon Mobilcs	$1,698,000	–	19,825	–	0.99%	–
DE	New	Deerecs	$1,658,000	–	5,535	–	0.96%	–
DIS	New	Walt Disneycs	$1,605,000	–	16,997	–	0.93%	–
PEP	New	Pepsicocs	$1,562,000	–	9,370	–	0.91%	–
MCD	New	McDonald'scs	$1,476,000	–	5,977	–	0.86%	–
GOOG	New	Alphabet Inc Class Ccs	$1,466,000	–	670	–	0.85%	–
SYY	New	Sysco Corpcs	$1,405,000	–	16,584	–	0.82%	–
CHRW	New	C.H. Robinson Worldwidecs	$1,386,000	–	13,675	–	0.81%	–
PG	New	Procter & Gamblecs	$1,315,000	–	9,144	–	0.77%	–
TXT	New	Textroncs	$1,295,000	–	21,200	–	0.75%	–
NKE	New	Nike Inc Class Bcs	$1,285,000	–	12,569	–	0.75%	–
NTR	New	Nutrien Ltd.cs	$1,283,000	–	16,100	–	0.75%	–
EL	New	Estee Laudercs	$1,279,000	–	5,023	–	0.74%	–
HLT	New	Hilton Hotelscs	$1,276,000	–	11,450	–	0.74%	–
AME	New	Ametekcs	$1,258,000	–	11,445	–	0.73%	–
CVS	New	C.V.S. Caremarkcs	$1,209,000	–	13,045	–	0.70%	–
PXD	New	Pioneer Natural Resourcescs	$1,199,000	–	5,375	–	0.70%	–
IBM	New	Int'l Bus. Mach.cs	$1,180,000	–	8,360	–	0.69%	–
DVN	New	Devon Energycs	$1,178,000	–	21,382	–	0.69%	–
CNI	New	Canadian Natl Railcs	$1,172,000	–	10,420	–	0.68%	–
QCOM	New	Qualcommcs	$1,167,000	–	9,135	–	0.68%	–
INDB	New	Independent Bankcs	$1,156,000	–	14,558	–	0.67%	–
CFG	New	Citizens Financial Groupcs	$1,140,000	–	31,950	–	0.66%	–
LDOS	New	Leidos Holdings, Inc.cs	$1,134,000	–	11,263	–	0.66%	–
INVH	New	Invitation Homes Inc.cs	$1,104,000	–	31,019	–	0.64%	–
SPG	New	Simon Property Groupcs	$1,096,000	–	11,550	–	0.64%	–
AXP	New	American Expresscs	$1,095,000	–	7,900	–	0.64%	–
HD	New	Home Depotcs	$1,087,000	–	3,964	–	0.63%	–
CNC	New	Centenecs	$1,083,000	–	12,800	–	0.63%	–
LHX	New	L3Harris Technologiescs	$1,051,000	–	4,350	–	0.61%	–
ODFL	New	Old Dominion Freight Linecs	$1,051,000	–	4,100	–	0.61%	–
WM	New	Waste Management Inc.cs	$1,036,000	–	6,775	–	0.60%	–
AVT	New	Avnetcs	$977,000	–	22,780	–	0.57%	–
VZ	New	Verizon Comm.cs	$973,000	–	19,165	–	0.57%	–
GSK	New	GSK plccs	$953,000	–	21,900	–	0.56%	–
CARR	New	Carrier Globalcs	$924,000	–	25,900	–	0.54%	–
ABBV	New	AbbVie Inc.cs	$924,000	–	6,030	–	0.54%	–
NTDOY	New	Nintendo Cocs	$918,000	–	17,055	–	0.53%	–
JPM	New	J.P. Morgan Chasecs	$908,000	–	8,060	–	0.53%	–
RTX	New	Raytheon Technologiescs	$903,000	–	9,400	–	0.53%	–
H	New	Hyatt Hotels Corpcs	$902,000	–	12,200	–	0.52%	–
PWR	New	Quanta Servicescs	$899,000	–	7,175	–	0.52%	–
KLAC	New	KLA Tencorcs	$893,000	–	2,800	–	0.52%	–
SLB	New	Schlumbergercs	$883,000	–	24,701	–	0.51%	–
RHHBY	New	Roche Holdings Ltdcs	$882,000	–	21,150	–	0.51%	–
ALB	New	Albemarle Corp.cs	$872,000	–	4,175	–	0.51%	–
BAX	New	Baxter Internationalcs	$817,000	–	12,715	–	0.48%	–
LII	New	Lennox International Inc.cs	$813,000	–	3,935	–	0.47%	–
ENB	New	Enbridge Inccs	$810,000	–	19,175	–	0.47%	–
MRVL	New	Marvell Technologiescs	$788,000	–	18,112	–	0.46%	–
SJM	New	J.M. Smucker Companycs	$784,000	–	6,125	–	0.46%	–
MPC	New	Marathon Petroleumcs	$780,000	–	9,493	–	0.45%	–
MS	New	Morgan Stanleycs	$779,000	–	10,242	–	0.45%	–
STLD	New	Steel Dynamicscs	$777,000	–	11,745	–	0.45%	–
FISV	New	Fiserv Inc.cs	$765,000	–	8,601	–	0.44%	–
GILD	New	Gilead Sciencescs	$763,000	–	12,350	–	0.44%	–
CFR	New	Cullen/Frost Bankerscs	$760,000	–	6,525	–	0.44%	–
LYB	New	LyondellBasell Industriescs	$752,000	–	8,600	–	0.44%	–
VLO	New	Valerocs	$752,000	–	7,075	–	0.44%	–
TDG	New	TransDigm Group Incorporatedcs	$743,000	–	1,385	–	0.43%	–
SBUX	New	Starbuckscs	$740,000	–	9,690	–	0.43%	–
TD	New	Toronto-Dominion Bankcs	$739,000	–	11,275	–	0.43%	–
FCX	New	Freeport McMorancs	$727,000	–	24,838	–	0.42%	–
MET	New	MetLifecs	$716,000	–	11,400	–	0.42%	–
CL	New	Colgate-Palmolivecs	$716,000	–	8,938	–	0.42%	–
DD	New	DuPont Inccs	$641,000	–	11,532	–	0.37%	–
AMD	New	Advanced Micro Devicescs	$636,000	–	8,311	–	0.37%	–
EOG	New	EOG Resourcescs	$633,000	–	5,730	–	0.37%	–
DAR	New	Darling Ingredients Inc.cs	$623,000	–	10,425	–	0.36%	–
BX	New	Blackstone Inccs	$620,000	–	6,800	–	0.36%	–
GIS	New	General Millscs	$617,000	–	8,175	–	0.36%	–
REGN	New	Regeneron Pharmaceuticalscs	$586,000	–	991	–	0.34%	–
EQNR	New	Equinor ASAcs	$580,000	–	16,675	–	0.34%	–
CCJ	New	Camecocs	$577,000	–	27,450	–	0.34%	–
IR	New	Ingersoll-Randcs	$520,000	–	12,350	–	0.30%	–
AXTA	New	Axalta Coating Systemscs	$518,000	–	23,425	–	0.30%	–
ELAN	New	Elanco Animal Healthcs	$518,000	–	26,400	–	0.30%	–
KNX	New	Knight Swift Transportationcs	$486,000	–	10,495	–	0.28%	–
INTC	New	Intelcs	$480,000	–	12,833	–	0.28%	–
WBA	New	Walgreens Boots Alliancecs	$471,000	–	12,415	–	0.27%	–
AZN	New	Astrazenecacs	$453,000	–	6,850	–	0.26%	–
NEE	New	NextEra Energy Inc.cs	$445,000	–	5,740	–	0.26%	–
EQT	New	EQT Corpcs	$441,000	–	12,825	–	0.26%	–
WY	New	Weyerhaeusercs	$431,000	–	13,020	–	0.25%	–
FB	New	Meta Platforms Inc.cs	$426,000	–	2,641	–	0.25%	–
LLY	New	Eli Lillycs	$417,000	–	1,285	–	0.24%	–
COF	New	Capital One Finl.cs	$396,000	–	3,805	–	0.23%	–
BEN	New	Franklin Resourcescs	$394,000	–	16,885	–	0.23%	–
HOLX	New	Hologic, Inc.cs	$381,000	–	5,500	–	0.22%	–
PYPL	New	PayPalcs	$367,000	–	5,261	–	0.21%	–
RIO	New	Rio Tintocs	$363,000	–	5,950	–	0.21%	–
EMR	New	Emerson Electriccs	$359,000	–	4,518	–	0.21%	–
BA	New	Boeingcs	$357,000	–	2,613	–	0.21%	–
MA	New	Mastercard Inccs	$355,000	–	1,125	–	0.21%	–
VNO	New	Vornado Realty Trustcs	$333,000	–	11,645	–	0.19%	–
NUE	New	Nucorcs	$327,000	–	3,135	–	0.19%	–
	New	General Electriccs	$316,000	–	4,962	–	0.18%	–
QSR	New	Restaurant Brands Int'lcs	$303,000	–	6,049	–	0.18%	–
V	New	Visacs	$288,000	–	1,465	–	0.17%	–
NSC	New	Norfolk Southerncs	$286,000	–	1,260	–	0.17%	–
CVX	New	Chevron Corporationcs	$286,000	–	1,975	–	0.17%	–
SHW	New	Sherwin-Williamscs	$280,000	–	1,250	–	0.16%	–
CMCSA	New	Comcast Corp Cl Acs	$271,000	–	6,900	–	0.16%	–
FLIC	New	The First of Long Island Corpocs	$267,000	–	15,225	–	0.16%	–
GMRE	New	Global Medical REIT Inc.cs	$261,000	–	23,225	–	0.15%	–
ZEUS	New	Olympic Steel, Inc.cs	$261,000	–	10,145	–	0.15%	–
DCI	New	Donaldson Company Inc.cs	$256,000	–	5,325	–	0.15%	–
ALL	New	Allstatecs	$253,000	–	2,000	–	0.15%	–
CLF	New	Cleveland-Cliffs Inc.cs	$249,000	–	16,175	–	0.14%	–
ORCL	New	Oraclecs	$245,000	–	3,509	–	0.14%	–
K	New	Kelloggcs	$243,000	–	3,410	–	0.14%	–
SUM	New	Summit Materials Inccs	$231,000	–	9,911	–	0.13%	–
HWM	New	Howmet Aerospace Inc.cs	$228,000	–	7,250	–	0.13%	–
EXPE	New	Expediacs	$222,000	–	2,340	–	0.13%	–
INTU	New	Intuit Inc.cs	$212,000	–	550	–	0.12%	–
GD	New	General Dynamicscs	$211,000	–	952	–	0.12%	–
XYL	New	Xylem Inccs	$203,000	–	2,600	–	0.12%	–
HPE	New	Hewlett Packard Enterprisecs	$168,000	–	12,650	–	0.10%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
IBP	Exit	Installed Building Products Incs	$0	–	-1,925	–	-0.11%	–
CLX	Exit	Clorox Companycs	$0	–	-1,250	–	-0.11%	–
BEP	Exit	Brookfield Renewable Partnerscs	$0	–	-5,650	–	-0.11%	–
T	Exit	A T & Tcs	$0	–	-7,795	–	-0.11%	–
TXN	Exit	Texas Instrumentscs	$0	–	-1,125	–	-0.11%	–
RBLX	Exit	Robloxcs	$0	–	-2,850	–	-0.11%	–
TOL	Exit	Toll Brotherscs	$0	–	-3,925	–	-0.11%	–
LIN	Exit	Linde PLCcs	$0	–	-750	–	-0.12%	–
UTX	Exit	Raytheon Technologiescs	$0	–	-2,625	–	-0.12%	–
MHO	Exit	M/I Homescs	$0	–	-3,950	–	-0.12%	–
PATK	Exit	Patrick Industriescs	$0	–	-2,750	–	-0.12%	–
QCOM	Exit	Qualcommcs	$0	–	-1,775	–	-0.12%	–
CRWD	Exit	CrowdStrike Holdings, Inc.cs	$0	–	-950	–	-0.12%	–
BK	Exit	Bank of NY Melloncs	$0	–	-4,620	–	-0.13%	–
COST	Exit	Costco Wholesalecs	$0	–	-550	–	-0.13%	–
APTV	Exit	Aptivcs	$0	–	-1,675	–	-0.13%	–
DXCM	Exit	DexCom, Inc.cs	$0	–	-460	–	-0.13%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-2,190	–	-0.13%	–
ALL	Exit	Allstatecs	$0	–	-2,000	–	-0.13%	–
AGR	Exit	Avangrid, Inc.cs	$0	–	-5,375	–	-0.14%	–
DRI	Exit	Darden Restaurantscs	$0	–	-1,750	–	-0.14%	–
BNTX	Exit	BioNTech SEcs	$0	–	-975	–	-0.14%	–
ZBRA	Exit	Zebra Technologiescs	$0	–	-550	–	-0.15%	–
FSLR	Exit	First Solarcs	$0	–	-3,075	–	-0.15%	–
INTU	Exit	Intuit Inc.cs	$0	–	-550	–	-0.16%	–
NX	Exit	Quanex Building Products Corpocs	$0	–	-13,900	–	-0.16%	–
LLY	Exit	Eli Lillycs	$0	–	-1,310	–	-0.16%	–
J	Exit	Jacobs Engineeringcs	$0	–	-2,300	–	-0.16%	–
OC	Exit	Owens Corningcs	$0	–	-3,575	–	-0.16%	–
ROKU	Exit	Rokucs	$0	–	-985	–	-0.16%	–
ALK	Exit	Alaska Aircs	$0	–	-5,325	–	-0.16%	–
CIEN	Exit	Ciena Corporationcs	$0	–	-6,060	–	-0.16%	–
MDC	Exit	M.D.C. Holdings, Inc.cs	$0	–	-6,744	–	-0.16%	–
VRSK	Exit	Verisk Analyticscs	$0	–	-1,575	–	-0.16%	–
XYL	Exit	Xylem Inccs	$0	–	-2,600	–	-0.17%	–
CP	Exit	Canadian Pacificcs	$0	–	-5,000	–	-0.17%	–
ABB	Exit	ABB LTDcs	$0	–	-9,775	–	-0.17%	–
TWLO	Exit	Twilio Inc.cs	$0	–	-1,050	–	-0.18%	–
HD	Exit	Home Depotcs	$0	–	-1,023	–	-0.18%	–
DHI	Exit	DR Hortoncs	$0	–	-4,008	–	-0.18%	–
KKR	Exit	KKR & Cocs	$0	–	-5,600	–	-0.18%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-7,650	–	-0.18%	–
SHW	Exit	Sherwin-Williamscs	$0	–	-1,250	–	-0.18%	–
IDXX	Exit	Idexx Laboratoriescs	$0	–	-575	–	-0.19%	–
CTAS	Exit	Cintascs	$0	–	-950	–	-0.19%	–
PRU	Exit	Prudential Financialcs	$0	–	-3,466	–	-0.19%	–
REGN	Exit	Regeneron Pharmaceuticalscs	$0	–	-615	–	-0.20%	–
SWKS	Exit	Skyworks Solutions Inccs	$0	–	-2,270	–	-0.20%	–
PNR	Exit	Pentaircs	$0	–	-5,166	–	-0.20%	–
CMCSA	Exit	Comcast Corp Cl Acs	$0	–	-6,900	–	-0.20%	–
LHX	Exit	L3Harris Technologiescs	$0	–	-1,800	–	-0.21%	–
AQUA	Exit	Evoqua Water Technologiescs	$0	–	-11,050	–	-0.22%	–
MU	Exit	Micron Technologycs	$0	–	-5,850	–	-0.22%	–
AMCR	Exit	Amcor plccs	$0	–	-35,760	–	-0.22%	–
K	Exit	Kelloggcs	$0	–	-6,510	–	-0.22%	–
EMR	Exit	Emerson Electriccs	$0	–	-4,518	–	-0.22%	–
WYNN	Exit	Wynn Resorts, Limitedcs	$0	–	-5,150	–	-0.23%	–
MSGE	Exit	Madison Square Gardencs	$0	–	-6,013	–	-0.23%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-5,145	–	-0.23%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-11,500	–	-0.23%	–
CMA	Exit	Comericacs	$0	–	-5,625	–	-0.24%	–
LEG	Exit	Leggett & Plattcs	$0	–	-10,550	–	-0.25%	–
ELAN	Exit	Elanco Animal Healthcs	$0	–	-15,000	–	-0.25%	–
NFLX	Exit	Netflixcs	$0	–	-793	–	-0.25%	–
CNQ	Exit	Canadian Natural Resourcescs	$0	–	-13,500	–	-0.26%	–
GS	Exit	Goldman Sachscs	$0	–	-1,325	–	-0.26%	–
ZBH	Exit	Zimmer Biometcs	$0	–	-3,533	–	-0.27%	–
NUE	Exit	Nucorcs	$0	–	-5,250	–	-0.27%	–
MKTX	Exit	MarketAxess Holdings Inc.cs	$0	–	-1,240	–	-0.27%	–
CAH	Exit	Cardinal Healthcs	$0	–	-10,600	–	-0.27%	–
AZEK	Exit	AZEK Companycs	$0	–	-14,905	–	-0.28%	–
KNX	Exit	Knight Swift Transportationcs	$0	–	-10,895	–	-0.29%	–
GM	Exit	General Motorscs	$0	–	-10,900	–	-0.30%	–
ALB	Exit	Albemarle Corp.cs	$0	–	-2,675	–	-0.31%	–
PYPL	Exit	PayPalcs	$0	–	-2,255	–	-0.31%	–
GE	Exit	General Electriccs	$0	–	-5,972	–	-0.32%	–
IR	Exit	Ingersoll-Randcs	$0	–	-12,250	–	-0.32%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-13,450	–	-0.33%	–
PHM	Exit	Pultecs	$0	–	-13,805	–	-0.33%	–
DAL	Exit	Delta Airlinescs	$0	–	-15,050	–	-0.34%	–
AMAT	Exit	Applied Materialscs	$0	–	-5,030	–	-0.34%	–
AMGN	Exit	Amgencs	$0	–	-3,095	–	-0.34%	–
MAS	Exit	Masco Corpcs	$0	–	-11,910	–	-0.35%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-8,938	–	-0.35%	–
WBA	Exit	Walgreens Boots Alliancecs	$0	–	-14,375	–	-0.35%	–
EL	Exit	Estee Laudercs	$0	–	-2,363	–	-0.37%	–
WAB	Exit	Wabteccs	$0	–	-8,324	–	-0.38%	–
STLD	Exit	Steel Dynamicscs	$0	–	-12,342	–	-0.38%	–
DCI	Exit	Donaldson Company Inc.cs	$0	–	-13,100	–	-0.39%	–
SPG	Exit	Simon Property Groupcs	$0	–	-5,800	–	-0.40%	–
LYB	Exit	LyondellBasell Industriescs	$0	–	-8,050	–	-0.40%	–
TD	Exit	Toronto-Dominion Bankcs	$0	–	-11,700	–	-0.40%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-11,075	–	-0.41%	–
PWR	Exit	Quanta Servicescs	$0	–	-7,225	–	-0.43%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-13,494	–	-0.43%	–
DE	Exit	Deerecs	$0	–	-2,470	–	-0.43%	–
FISV	Exit	Fiserv Inc.cs	$0	–	-7,766	–	-0.44%	–
CAG	Exit	ConAgra Foodscs	$0	–	-26,150	–	-0.46%	–
ILMN	Exit	Illuminacs	$0	–	-2,200	–	-0.47%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-11,865	–	-0.49%	–
INTC	Exit	Intelcs	$0	–	-17,726	–	-0.49%	–
CMI	Exit	Cumminscs	$0	–	-4,200	–	-0.49%	–
AMD	Exit	Advanced Micro Devicescs	$0	–	-9,245	–	-0.50%	–
AVT	Exit	Avnetcs	$0	–	-25,905	–	-0.50%	–
MRNA	Exit	Moderna, Inc.cs	$0	–	-2,551	–	-0.51%	–
IRM	Exit	Iron Mountain Inc REITcs	$0	–	-23,100	–	-0.53%	–
UTHR	Exit	United Therapeutics Corporatiocs	$0	–	-5,450	–	-0.53%	–
MDT	Exit	Medtronic PLCcs	$0	–	-8,119	–	-0.53%	–
CME	Exit	CME Groupcs	$0	–	-5,300	–	-0.54%	–
SYF	Exit	Synchrony Financialcs	$0	–	-21,795	–	-0.56%	–
PEP	Exit	Pepsicocs	$0	–	-7,110	–	-0.56%	–
SBUX	Exit	Starbuckscs	$0	–	-9,990	–	-0.58%	–
CI	Exit	Cignacs	$0	–	-5,550	–	-0.58%	–
INDB	Exit	Independent Bankcs	$0	–	-14,658	–	-0.58%	–
GIS	Exit	General Millscs	$0	–	-19,088	–	-0.60%	–
UNP	Exit	Union Pacificcs	$0	–	-5,841	–	-0.60%	–
NTDOY	Exit	Nintendo Cocs	$0	–	-19,490	–	-0.60%	–
XOM	Exit	Exxon Mobilcs	$0	–	-19,868	–	-0.61%	–
AZN	Exit	Astrazenecacs	$0	–	-19,925	–	-0.63%	–
ANTM	Exit	Anthemcs	$0	–	-3,240	–	-0.63%	–
CARR	Exit	Carrier Globalcs	$0	–	-23,475	–	-0.64%	–
QRVO	Exit	Qorvo Inccs	$0	–	-7,285	–	-0.64%	–
FDX	Exit	FedExcs	$0	–	-5,650	–	-0.65%	–
CNI	Exit	Canadian Natl Railcs	$0	–	-10,930	–	-0.66%	–
SYY	Exit	Sysco Corpcs	$0	–	-16,109	–	-0.66%	–
LII	Exit	Lennox International Inc.cs	$0	–	-4,425	–	-0.68%	–
CCI	Exit	Crown Castle International Corcs	$0	–	-7,800	–	-0.71%	–
TER	Exit	Teradynecs	$0	–	-12,509	–	-0.72%	–
PG	Exit	Procter & Gamblecs	$0	–	-9,819	–	-0.72%	–
PCAR	Exit	Paccarcs	$0	–	-18,130	–	-0.75%	–
CTVA	Exit	Cortevacs	$0	–	-34,258	–	-0.76%	–
MCD	Exit	McDonald'scs	$0	–	-6,042	–	-0.76%	–
LRCX	Exit	Lam Researchcs	$0	–	-2,625	–	-0.78%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-10,760	–	-0.78%	–
PLD	Exit	ProLogiscs	$0	–	-11,962	–	-0.79%	–
TFC	Exit	Truist Financial Corpcs	$0	–	-27,095	–	-0.83%	–
BA	Exit	Boeingcs	$0	–	-7,390	–	-0.85%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-15,658	–	-0.88%	–
PXD	Exit	Pioneer Natural Resourcescs	$0	–	-10,525	–	-0.92%	–
INVH	Exit	Invitation Homes Inc.cs	$0	–	-46,050	–	-0.92%	–
MRVL	Exit	Marvell Technologiescs	$0	–	-29,641	–	-0.94%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-12,437	–	-0.95%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-701	–	-0.98%	–
KSU	Exit	Kansas City So.cs	$0	–	-7,247	–	-1.03%	–
AMZN	Exit	Amazon, Inc.cs	$0	–	-604	–	-1.04%	–
V	Exit	Visacs	$0	–	-9,272	–	-1.08%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-7,611	–	-1.09%	–
MRK	Exit	Merckcs	$0	–	-27,968	–	-1.10%	–
DIS	Exit	Walt Disneycs	$0	–	-12,765	–	-1.13%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-10,187	–	-1.13%	–
MMM	Exit	3M Corp.cs	$0	–	-12,337	–	-1.13%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-37,737	–	-1.17%	–
MS	Exit	Morgan Stanleycs	$0	–	-23,207	–	-1.18%	–
WASH	Exit	Washington Trustcs	$0	–	-43,204	–	-1.20%	–
FB	Exit	Facebook Inccs	$0	–	-6,946	–	-1.24%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-6,982	–	-1.28%	–
ADI	Exit	Analog Devicescs	$0	–	-14,772	–	-1.30%	–
VZ	Exit	Verizon Comm.cs	$0	–	-47,535	–	-1.34%	–
UPS	Exit	UPScs	$0	–	-14,830	–	-1.42%	–
KO	Exit	Coca-Colacs	$0	–	-55,487	–	-1.52%	–
WM	Exit	Waste Management Inc.cs	$0	–	-19,957	–	-1.56%	–
ABT	Exit	Abbott Labscs	$0	–	-25,653	–	-1.59%	–
CSX	Exit	CSX Corpcs	$0	–	-104,999	–	-1.64%	–
ZTS	Exit	Zoetis Inccs	$0	–	-16,542	–	-1.68%	–
PFE	Exit	Pfizercs	$0	–	-75,957	–	-1.71%	–
WMT	Exit	Walmart Inc.cs	$0	–	-27,007	–	-1.97%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-28,538	–	-1.98%	–
MSFT	Exit	Microsoftcs	$0	–	-13,775	–	-2.03%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-25,295	–	-2.14%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-1,532	–	-2.14%	–
CSCO	Exit	Cisco Systemscs	$0	–	-91,367	–	-2.60%	–
AAPL	Exit	Apple Computercs	$0	–	-38,404	–	-2.85%	–
CHD	Exit	Church and Dwightcs	$0	–	-71,085	–	-3.07%	–

Q3 2021

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$5,869,000	-3.8%	71,085	-0.7%	3.07%	-2.6%
CSCO	Sell	Cisco Systemscs	$4,973,000	+2.5%	91,367	-0.2%	2.60%	+3.8%
GOOGL	Sell	Alphabet Inc Class Acs	$4,096,000	+9.4%	1,532	-0.1%	2.14%	+10.8%
MSFT	Sell	Microsoftcs	$3,883,000	+2.0%	13,775	-2.0%	2.03%	+3.4%
KMB	Sell	Kimberly Clarkcs	$3,780,000	-1.7%	28,538	-0.7%	1.98%	-0.5%
WMT	Sell	Walmart Inc.cs	$3,764,000	-1.4%	27,007	-0.2%	1.97%	-0.1%
PFE	Buy	Pfizercs	$3,267,000	+20.6%	75,957	+9.8%	1.71%	+22.1%
ZTS	Sell	Zoetis Inccs	$3,211,000	+4.0%	16,542	-0.2%	1.68%	+5.3%
CSX	Buy	CSX Corpcs	$3,123,000	-6.0%	104,999	+1.4%	1.64%	-4.8%
ABT	Sell	Abbott Labscs	$3,030,000	+1.5%	25,653	-0.4%	1.59%	+2.8%
KO	Sell	Coca-Colacs	$2,911,000	-3.1%	55,487	-0.1%	1.52%	-1.9%
UPS	Sell	UPScs	$2,701,000	-12.7%	14,830	-0.3%	1.42%	-11.6%
VZ	Buy	Verizon Comm.cs	$2,567,000	+27.1%	47,535	+31.8%	1.34%	+28.7%
ADI	Buy	Analog Devicescs	$2,474,000	+0.7%	14,772	+3.5%	1.30%	+2.0%
URI	Buy	United Rentals, Inc.cs	$2,450,000	+40.9%	6,982	+28.1%	1.28%	+42.7%
FB	Buy	Facebook Inccs	$2,357,000	+20.4%	6,946	+23.4%	1.24%	+21.9%
MS	Buy	Morgan Stanleycs	$2,258,000	+13.0%	23,207	+6.4%	1.18%	+14.4%
BMY	Buy	Bristol Myers Squibbcs	$2,233,000	+0.7%	37,737	+13.7%	1.17%	+2.0%
MMM	Sell	3M Corp.cs	$2,164,000	-12.0%	12,337	-0.4%	1.13%	-10.8%
HON	Buy	Honeywell Int'l.cs	$2,162,000	+10.9%	10,187	+14.6%	1.13%	+12.3%
DIS	Buy	Walt Disneycs	$2,159,000	+17.5%	12,765	+22.1%	1.13%	+18.9%
MRK	Sell	Merckcs	$2,101,000	-3.6%	27,968	-0.2%	1.10%	-2.3%
BRKB	Sell	Berkshire Hathaway Bcs	$2,077,000	-2.1%	7,611	-0.3%	1.09%	-0.9%
V	Buy	Visacs	$2,065,000	+9.9%	9,272	+15.4%	1.08%	+11.3%
AMZN	Buy	Amazon, Inc.cs	$1,984,000	+46.4%	604	+53.3%	1.04%	+48.2%
NKE	Buy	Nike Inc Class Bcs	$1,806,000	+3.1%	12,437	+9.7%	0.95%	+4.4%
MRVL	Sell	Marvell Technologiescs	$1,788,000	+2.3%	29,641	-1.1%	0.94%	+3.7%
INVH	Buy	Invitation Homes Inc.cs	$1,765,000	+16.0%	46,050	+12.9%	0.92%	+17.5%
PXD	Buy	Pioneer Natural Resourcescs	$1,753,000	+91.8%	10,525	+87.1%	0.92%	+94.1%
ABBV	Sell	AbbVie Inc.cs	$1,689,000	-4.7%	15,658	-0.5%	0.88%	-3.4%
BA	Buy	Boeingcs	$1,625,000	-6.9%	7,390	+1.4%	0.85%	-5.8%
TFC	Sell	Truist Financial Corpcs	$1,589,000	+4.7%	27,095	-1.0%	0.83%	+6.0%
PLD	Buy	ProLogiscs	$1,500,000	+24.7%	11,962	+18.9%	0.79%	+26.4%
LRCX	Buy	Lam Researchcs	$1,494,000	+14.5%	2,625	+30.9%	0.78%	+16.0%
MCD	Sell	McDonald'scs	$1,457,000	+4.2%	6,042	-0.2%	0.76%	+5.5%
CTVA	Buy	Cortevacs	$1,442,000	+43.2%	34,258	+50.9%	0.76%	+44.9%
PCAR	Buy	Paccarcs	$1,431,000	+51.7%	18,130	+71.6%	0.75%	+53.7%
TER	Buy	Teradynecs	$1,366,000	-10.8%	12,509	+9.4%	0.72%	-9.6%
LII	Buy	Lennox International Inc.cs	$1,302,000	+155.8%	4,425	+205.2%	0.68%	+159.3%
SYY	Buy	Sysco Corpcs	$1,265,000	+46.4%	16,109	+45.0%	0.66%	+48.3%
CNI	Sell	Canadian Natl Railcs	$1,264,000	-31.7%	10,930	-37.7%	0.66%	-30.9%
FDX	Buy	FedExcs	$1,239,000	+17.8%	5,650	+60.3%	0.65%	+19.3%
QRVO	Buy	Qorvo Inccs	$1,218,000	+34.4%	7,285	+57.3%	0.64%	+36.0%
CARR	Sell	Carrier Globalcs	$1,215,000	+6.3%	23,475	-0.2%	0.64%	+7.6%
AZN	Buy	Astrazenecacs	$1,197,000	+23.8%	19,925	+23.4%	0.63%	+25.4%
XOM	Sell	Exxon Mobilcs	$1,169,000	-8.1%	19,868	-1.5%	0.61%	-7.0%
NTDOY	Buy	Nintendo Cocs	$1,155,000	-9.9%	19,490	+10.2%	0.60%	-8.7%
GIS	Buy	General Millscs	$1,142,000	-0.5%	19,088	+1.3%	0.60%	+0.7%
CI	Buy	Cignacs	$1,111,000	+89.3%	5,550	+124.2%	0.58%	+91.4%
SBUX	Buy	Starbuckscs	$1,102,000	+12.6%	9,990	+14.1%	0.58%	+14.0%
SYF	Sell	Synchrony Financialcs	$1,065,000	-1.5%	21,795	-2.1%	0.56%	-0.2%
CME	New	CME Groupcs	$1,025,000	–	5,300	–	0.54%	–
UTHR	Buy	United Therapeutics Corporatiocs	$1,006,000	+398.0%	5,450	+384.4%	0.53%	+406.7%
IRM	New	Iron Mountain Inc REITcs	$1,004,000	–	23,100	–	0.53%	–
MRNA	Sell	Moderna, Inc.cs	$982,000	+54.9%	2,551	-5.5%	0.51%	+56.7%
AVT	New	Avnetcs	$958,000	–	25,905	–	0.50%	–
AMD	Buy	Advanced Micro Devicescs	$951,000	+92.1%	9,245	+75.3%	0.50%	+94.5%
INTC	Sell	Intelcs	$944,000	-6.7%	17,726	-1.7%	0.49%	-5.5%
CMI	Buy	Cumminscs	$943,000	+40.7%	4,200	+52.7%	0.49%	+42.4%
NEE	Sell	NextEra Energy Inc.cs	$932,000	+4.6%	11,865	-2.5%	0.49%	+5.9%
ILMN	New	Illuminacs	$892,000	–	2,200	–	0.47%	–
CAG	Buy	ConAgra Foodscs	$886,000	+59.9%	26,150	+71.8%	0.46%	+61.7%
FISV	Sell	Fiserv Inc.cs	$843,000	-47.8%	7,766	-48.6%	0.44%	-47.1%
DE	New	Deerecs	$828,000	–	2,470	–	0.43%	–
PWR	Sell	Quanta Servicescs	$822,000	+22.3%	7,225	-2.7%	0.43%	+23.9%
TD	Sell	Toronto-Dominion Bankcs	$774,000	-6.7%	11,700	-1.3%	0.40%	-5.6%
LYB	Buy	LyondellBasell Industriescs	$755,000	+78.9%	8,050	+96.3%	0.40%	+81.2%
DCI	Sell	Donaldson Company Inc.cs	$752,000	-9.8%	13,100	-0.2%	0.39%	-8.6%
STLD	New	Steel Dynamicscs	$722,000	–	12,342	–	0.38%	–
WAB	Sell	Wabteccs	$718,000	-59.2%	8,324	-61.0%	0.38%	-58.6%
EL	Sell	Estee Laudercs	$709,000	-48.5%	2,363	-45.5%	0.37%	-48.0%
MAS	New	Masco Corpcs	$662,000	–	11,910	–	0.35%	–
AMGN	Sell	Amgencs	$658,000	-59.6%	3,095	-53.6%	0.34%	-59.0%
AMAT	New	Applied Materialscs	$648,000	–	5,030	–	0.34%	–
DAL	Buy	Delta Airlinescs	$641,000	+184.9%	15,050	+189.4%	0.34%	+189.7%
PHM	New	Pultecs	$634,000	–	13,805	–	0.33%	–
CFG	Buy	Citizens Financial Groupcs	$632,000	+2.8%	13,450	+0.4%	0.33%	+4.1%
GE	Sell	General Electriccs	$615,000	+9.4%	5,972	-85.7%	0.32%	+10.7%
ALB	Sell	Albemarle Corp.cs	$586,000	-30.1%	2,675	-46.2%	0.31%	-29.1%
PYPL	Buy	PayPalcs	$587,000	+4.6%	2,255	+17.1%	0.31%	+5.9%
GM	Buy	General Motorscs	$575,000	+75.3%	10,900	+96.4%	0.30%	+77.1%
KNX	Sell	Knight Swift Transportationcs	$557,000	-66.6%	10,895	-70.3%	0.29%	-66.1%
CAH	Sell	Cardinal Healthcs	$524,000	-48.1%	10,600	-40.0%	0.27%	-47.5%
MKTX	Sell	MarketAxess Holdings Inc.cs	$522,000	-13.4%	1,240	-4.6%	0.27%	-12.5%
ZBH	Buy	Zimmer Biometcs	$517,000	+44.4%	3,533	+58.8%	0.27%	+46.5%
NUE	New	Nucorcs	$517,000	–	5,250	–	0.27%	–
GS	Buy	Goldman Sachscs	$501,000	+70.4%	1,325	+71.0%	0.26%	+72.4%
CNQ	Buy	Canadian Natural Resourcescs	$493,000	+101.2%	13,500	+100.0%	0.26%	+103.1%
NFLX	New	Netflixcs	$484,000	–	793	–	0.25%	–
ELAN	Buy	Elanco Animal Healthcs	$478,000	-0.4%	15,000	+8.3%	0.25%	+0.8%
LEG	New	Leggett & Plattcs	$473,000	–	10,550	–	0.25%	–
CMA	New	Comericacs	$453,000	–	5,625	–	0.24%	–
GSK	Sell	GlaxoSmithKlinecs	$439,000	-6.2%	11,500	-2.1%	0.23%	-5.0%
CVS	Sell	C.V.S. Caremarkcs	$437,000	-71.1%	5,145	-71.6%	0.23%	-70.7%
WYNN	New	Wynn Resorts, Limitedcs	$436,000	–	5,150	–	0.23%	–
AQUA	New	Evoqua Water Technologiescs	$415,000	–	11,050	–	0.22%	–
AMCR	Buy	Amcor plccs	$414,000	+47.3%	35,760	+45.9%	0.22%	+49.7%
MU	New	Micron Technologycs	$415,000	–	5,850	–	0.22%	–
CMCSA	Sell	Comcast Corp Cl Acs	$386,000	-32.8%	6,900	-31.5%	0.20%	-32.0%
SWKS	New	Skyworks Solutions Inccs	$374,000	–	2,270	–	0.20%	–
REGN	Sell	Regeneron Pharmaceuticalscs	$372,000	-59.9%	615	-63.0%	0.20%	-59.3%
PRU	New	Prudential Financialcs	$365,000	–	3,466	–	0.19%	–
CTAS	Sell	Cintascs	$362,000	-57.4%	950	-57.3%	0.19%	-56.8%
SHW	Sell	Sherwin-Williamscs	$350,000	+0.9%	1,250	-2.0%	0.18%	+2.2%
RHHBY	Sell	Roche Holdings Ltdcs	$348,000	-11.2%	7,650	-8.4%	0.18%	-10.3%
DHI	Buy	DR Hortoncs	$337,000	+24.8%	4,008	+34.1%	0.18%	+26.4%
HD	Sell	Home Depotcs	$336,000	-49.3%	1,023	-50.8%	0.18%	-48.7%
TWLO	New	Twilio Inc.cs	$335,000	–	1,050	–	0.18%	–
CP	Buy	Canadian Pacificcs	$325,000	-11.4%	5,000	+4.7%	0.17%	-10.5%
MDC	Sell	M.D.C. Holdings, Inc.cs	$315,000	-10.3%	6,744	-2.9%	0.16%	-9.3%
ALK	Sell	Alaska Aircs	$312,000	-68.8%	5,325	-67.9%	0.16%	-68.5%
CIEN	New	Ciena Corporationcs	$311,000	–	6,060	–	0.16%	–
ROKU	New	Rokucs	$309,000	–	985	–	0.16%	–
OC	Sell	Owens Corningcs	$306,000	-16.2%	3,575	-4.0%	0.16%	-15.3%
LLY	Sell	Eli Lillycs	$303,000	-55.6%	1,310	-55.9%	0.16%	-55.0%
FSLR	Sell	First Solarcs	$294,000	-12.8%	3,075	-17.4%	0.15%	-11.5%
BNTX	New	BioNTech SEcs	$266,000	–	975	–	0.14%	–
DXCM	Sell	DexCom, Inc.cs	$252,000	-53.7%	460	-63.9%	0.13%	-53.0%
APTV	New	Aptivcs	$250,000	–	1,675	–	0.13%	–
BK	Sell	Bank of NY Melloncs	$240,000	+0.4%	4,620	-1.1%	0.13%	+1.6%
CRWD	New	CrowdStrike Holdings, Inc.cs	$233,000	–	950	–	0.12%	–
QCOM	Sell	Qualcommcs	$229,000	-55.6%	1,775	-50.9%	0.12%	-55.1%
UTX	Sell	Raytheon Technologiescs	$226,000	-74.4%	2,625	-74.6%	0.12%	-74.2%
TOL	New	Toll Brotherscs	$217,000	–	3,925	–	0.11%	–
RBLX	New	Robloxcs	$215,000	–	2,850	–	0.11%	–
BEP	Sell	Brookfield Renewable Partnerscs	$209,000	-14.7%	5,650	-11.0%	0.11%	-14.2%
VALE	Exit	Vale S.A.cs	$0	–	-10,405	–	-0.12%	–
SLB	Exit	Schlumbergercs	$0	–	-7,546	–	-0.12%	–
COUP	Exit	Coupa Software Incorporatedcs	$0	–	-1,025	–	-0.14%	–
FTDR	Exit	frontdoor, inc.cs	$0	–	-6,100	–	-0.16%	–
EVRG	Exit	Evergy, Inc.cs	$0	–	-5,250	–	-0.16%	–
TTWO	Exit	Take Two Interactive Softwarecs	$0	–	-2,075	–	-0.19%	–
BLL	Exit	Ballcs	$0	–	-4,675	–	-0.20%	–
AME	Exit	Ametekcs	$0	–	-3,000	–	-0.21%	–
CF	Exit	CF Industriescs	$0	–	-7,900	–	-0.21%	–
RIO	Exit	Rio Tintocs	$0	–	-5,825	–	-0.25%	–
BDX	Exit	Becton Dickinsoncs	$0	–	-2,480	–	-0.31%	–
VNO	Exit	Vornado Realty Trustcs	$0	–	-14,490	–	-0.35%	–
IEX	Exit	IDEX Corp.cs	$0	–	-3,375	–	-0.38%	–
ORCL	Exit	Oraclecs	$0	–	-10,555	–	-0.42%	–
VLO	Exit	Valerocs	$0	–	-10,955	–	-0.44%	–
EQT	Exit	EQT Corpcs	$0	–	-38,665	–	-0.44%	–
C	Exit	Citigroupcs	$0	–	-12,350	–	-0.45%	–
BRKS	Exit	Brooks Automationcs	$0	–	-9,200	–	-0.45%	–
AMWD	Exit	American Woodmark Corporationcs	$0	–	-10,938	–	-0.46%	–
BFAM	Exit	Bright Horizons Family Solutiocs	$0	–	-7,175	–	-0.55%	–
VIRT	Exit	Virtu Financial, Inc.cs	$0	–	-39,276	–	-0.56%	–
PPG	Exit	PPG Industriescs	$0	–	-10,483	–	-0.92%	–
APD	Exit	Air Prod.& Chem.cs	$0	–	-6,400	–	-0.95%	–

Q2 2021

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$6,100,000	–	71,585	–	3.16%	–
AAPL	New	Apple Computercs	$5,260,000	–	38,404	–	2.72%	–
CSCO	New	Cisco Systemscs	$4,853,000	–	91,562	–	2.51%	–
JNJ	New	Johnson & Johnsoncs	$4,167,000	–	25,295	–	2.16%	–
KMB	New	Kimberly Clarkcs	$3,845,000	–	28,738	–	1.99%	–
WMT	New	Walmart Inc.cs	$3,817,000	–	27,067	–	1.97%	–
MSFT	New	Microsoftcs	$3,806,000	–	14,050	–	1.97%	–
GOOGL	New	Alphabet Inc Class Acs	$3,743,000	–	1,533	–	1.94%	–
CSX	New	CSX Corpcs	$3,321,000	–	103,524	–	1.72%	–
UPS	New	UPScs	$3,095,000	–	14,880	–	1.60%	–
ZTS	New	Zoetis Inccs	$3,088,000	–	16,568	–	1.60%	–
KO	New	Coca-Colacs	$3,005,000	–	55,537	–	1.55%	–
ABT	New	Abbott Labscs	$2,986,000	–	25,753	–	1.54%	–
WM	New	Waste Management Inc.cs	$2,796,000	–	19,957	–	1.45%	–
PFE	New	Pfizercs	$2,709,000	–	69,182	–	1.40%	–
MMM	New	3M Corp.cs	$2,460,000	–	12,387	–	1.27%	–
ADI	New	Analog Devicescs	$2,457,000	–	14,272	–	1.27%	–
WASH	New	Washington Trustcs	$2,219,000	–	43,204	–	1.15%	–
BMY	New	Bristol Myers Squibbcs	$2,218,000	–	33,187	–	1.15%	–
MRK	New	Merckcs	$2,179,000	–	28,018	–	1.13%	–
BRKB	New	Berkshire Hathaway Bcs	$2,122,000	–	7,636	–	1.10%	–
KSU	New	Kansas City So.cs	$2,054,000	–	7,247	–	1.06%	–
VZ	New	Verizon Comm.cs	$2,020,000	–	36,060	–	1.04%	–
MS	New	Morgan Stanleycs	$1,999,000	–	21,807	–	1.03%	–
FB	New	Facebook Inccs	$1,958,000	–	5,631	–	1.01%	–
HON	New	Honeywell Int'l.cs	$1,949,000	–	8,887	–	1.01%	–
V	New	Visacs	$1,879,000	–	8,037	–	0.97%	–
CNI	New	Canadian Natl Railcs	$1,852,000	–	17,550	–	0.96%	–
APD	New	Air Prod.& Chem.cs	$1,841,000	–	6,400	–	0.95%	–
DIS	New	Walt Disneycs	$1,838,000	–	10,455	–	0.95%	–
PPG	New	PPG Industriescs	$1,780,000	–	10,483	–	0.92%	–
ABBV	New	AbbVie Inc.cs	$1,772,000	–	15,733	–	0.92%	–
GOOG	New	Alphabet Inc Class Ccs	$1,757,000	–	701	–	0.91%	–
WAB	New	Wabteccs	$1,758,000	–	21,365	–	0.91%	–
NKE	New	Nike Inc Class Bcs	$1,751,000	–	11,337	–	0.91%	–
MRVL	New	Marvell Technologiescs	$1,748,000	–	29,966	–	0.90%	–
BA	New	Boeingcs	$1,746,000	–	7,290	–	0.90%	–
URI	New	United Rentals, Inc.cs	$1,739,000	–	5,452	–	0.90%	–
KNX	New	Knight Swift Transportationcs	$1,666,000	–	36,650	–	0.86%	–
AMGN	New	Amgencs	$1,627,000	–	6,675	–	0.84%	–
FISV	New	Fiserv Inc.cs	$1,616,000	–	15,121	–	0.84%	–
IBM	New	Int'l Bus. Mach.cs	$1,577,000	–	10,760	–	0.82%	–
TER	New	Teradynecs	$1,531,000	–	11,429	–	0.79%	–
CCI	New	Crown Castle International Corcs	$1,522,000	–	7,800	–	0.79%	–
INVH	New	Invitation Homes Inc.cs	$1,521,000	–	40,800	–	0.79%	–
TFC	New	Truist Financial Corpcs	$1,518,000	–	27,359	–	0.78%	–
CVS	New	C.V.S. Caremarkcs	$1,511,000	–	18,110	–	0.78%	–
MCD	New	McDonald'scs	$1,398,000	–	6,052	–	0.72%	–
EL	New	Estee Laudercs	$1,378,000	–	4,333	–	0.71%	–
AMZN	New	Amazon, Inc.cs	$1,355,000	–	394	–	0.70%	–
PG	New	Procter & Gamblecs	$1,325,000	–	9,819	–	0.68%	–
LRCX	New	Lam Researchcs	$1,305,000	–	2,005	–	0.68%	–
UNP	New	Union Pacificcs	$1,285,000	–	5,841	–	0.66%	–
NTDOY	New	Nintendo Cocs	$1,282,000	–	17,680	–	0.66%	–
XOM	New	Exxon Mobilcs	$1,272,000	–	20,170	–	0.66%	–
ANTM	New	Anthemcs	$1,237,000	–	3,240	–	0.64%	–
PLD	New	ProLogiscs	$1,203,000	–	10,062	–	0.62%	–
GIS	New	General Millscs	$1,148,000	–	18,838	–	0.59%	–
CARR	New	Carrier Globalcs	$1,143,000	–	23,525	–	0.59%	–
INDB	New	Independent Bankcs	$1,107,000	–	14,658	–	0.57%	–
VIRT	New	Virtu Financial, Inc.cs	$1,085,000	–	39,276	–	0.56%	–
SYF	New	Synchrony Financialcs	$1,081,000	–	22,270	–	0.56%	–
BFAM	New	Bright Horizons Family Solutiocs	$1,056,000	–	7,175	–	0.55%	–
PEP	New	Pepsicocs	$1,053,000	–	7,110	–	0.54%	–
FDX	New	FedExcs	$1,052,000	–	3,525	–	0.54%	–
INTC	New	Intelcs	$1,012,000	–	18,026	–	0.52%	–
CAH	New	Cardinal Healthcs	$1,009,000	–	17,675	–	0.52%	–
MDT	New	Medtronic PLCcs	$1,008,000	–	8,119	–	0.52%	–
CTVA	New	Cortevacs	$1,007,000	–	22,703	–	0.52%	–
ALK	New	Alaska Aircs	$1,000,000	–	16,575	–	0.52%	–
SBUX	New	Starbuckscs	$979,000	–	8,755	–	0.51%	–
AZN	New	Astrazenecacs	$967,000	–	16,150	–	0.50%	–
PCAR	New	Paccarcs	$943,000	–	10,565	–	0.49%	–
REGN	New	Regeneron Pharmaceuticalscs	$927,000	–	1,660	–	0.48%	–
PXD	New	Pioneer Natural Resourcescs	$914,000	–	5,625	–	0.47%	–
QRVO	New	Qorvo Inccs	$906,000	–	4,630	–	0.47%	–
AMWD	New	American Woodmark Corporationcs	$894,000	–	10,938	–	0.46%	–
NEE	New	NextEra Energy Inc.cs	$891,000	–	12,165	–	0.46%	–
UTX	New	Raytheon Technologiescs	$883,000	–	10,350	–	0.46%	–
BRKS	New	Brooks Automationcs	$877,000	–	9,200	–	0.45%	–
C	New	Citigroupcs	$874,000	–	12,350	–	0.45%	–
QSR	New	Restaurant Brands Int'lcs	$870,000	–	13,494	–	0.45%	–
SYY	New	Sysco Corpcs	$864,000	–	11,109	–	0.45%	–
EQT	New	EQT Corpcs	$861,000	–	38,665	–	0.44%	–
VLO	New	Valerocs	$855,000	–	10,955	–	0.44%	–
CTAS	New	Cintascs	$850,000	–	2,225	–	0.44%	–
ALB	New	Albemarle Corp.cs	$838,000	–	4,975	–	0.43%	–
DCI	New	Donaldson Company Inc.cs	$834,000	–	13,125	–	0.43%	–
TD	New	Toronto-Dominion Bankcs	$830,000	–	11,850	–	0.43%	–
ORCL	New	Oraclecs	$822,000	–	10,555	–	0.42%	–
PB	New	Prosperity Bancshares, Inc.cs	$795,000	–	11,075	–	0.41%	–
SPG	New	Simon Property Groupcs	$757,000	–	5,800	–	0.39%	–
WBA	New	Walgreens Boots Alliancecs	$756,000	–	14,375	–	0.39%	–
IEX	New	IDEX Corp.cs	$743,000	–	3,375	–	0.38%	–
CL	New	Colgate-Palmolivecs	$727,000	–	8,938	–	0.38%	–
LLY	New	Eli Lillycs	$682,000	–	2,970	–	0.35%	–
VNO	New	Vornado Realty Trustcs	$676,000	–	14,490	–	0.35%	–
PWR	New	Quanta Servicescs	$672,000	–	7,425	–	0.35%	–
CMI	New	Cumminscs	$670,000	–	2,750	–	0.35%	–
HD	New	Home Depotcs	$663,000	–	2,078	–	0.34%	–
MRNA	New	Moderna, Inc.cs	$634,000	–	2,700	–	0.33%	–
AZEK	New	AZEK Companycs	$633,000	–	14,905	–	0.33%	–
CFG	New	Citizens Financial Groupcs	$615,000	–	13,400	–	0.32%	–
BDX	New	Becton Dickinsoncs	$603,000	–	2,480	–	0.31%	–
MKTX	New	MarketAxess Holdings Inc.cs	$603,000	–	1,300	–	0.31%	–
IR	New	Ingersoll-Randcs	$598,000	–	12,250	–	0.31%	–
CI	New	Cignacs	$587,000	–	2,475	–	0.30%	–
CMCSA	New	Comcast Corp Cl Acs	$574,000	–	10,075	–	0.30%	–
GE	New	General Electriccs	$562,000	–	41,765	–	0.29%	–
PYPL	New	PayPalcs	$561,000	–	1,925	–	0.29%	–
CAG	New	ConAgra Foodscs	$554,000	–	15,225	–	0.29%	–
DXCM	New	DexCom, Inc.cs	$544,000	–	1,275	–	0.28%	–
QCOM	New	Qualcommcs	$516,000	–	3,612	–	0.27%	–
LII	New	Lennox International Inc.cs	$509,000	–	1,450	–	0.26%	–
MSGE	New	Madison Square Gardencs	$505,000	–	6,013	–	0.26%	–
AMD	New	Advanced Micro Devicescs	$495,000	–	5,275	–	0.26%	–
RIO	New	Rio Tintocs	$489,000	–	5,825	–	0.25%	–
ELAN	New	Elanco Animal Healthcs	$480,000	–	13,850	–	0.25%	–
GSK	New	GlaxoSmithKlinecs	$468,000	–	11,750	–	0.24%	–
EMR	New	Emerson Electriccs	$435,000	–	4,518	–	0.22%	–
LYB	New	LyondellBasell Industriescs	$422,000	–	4,100	–	0.22%	–
K	New	Kelloggcs	$419,000	–	6,510	–	0.22%	–
CF	New	CF Industriescs	$406,000	–	7,900	–	0.21%	–
AME	New	Ametekcs	$401,000	–	3,000	–	0.21%	–
RHHBY	New	Roche Holdings Ltdcs	$392,000	–	8,350	–	0.20%	–
LHX	New	L3Harris Technologiescs	$389,000	–	1,800	–	0.20%	–
BLL	New	Ballcs	$379,000	–	4,675	–	0.20%	–
CP	New	Canadian Pacificcs	$367,000	–	4,775	–	0.19%	–
TTWO	New	Take Two Interactive Softwarecs	$367,000	–	2,075	–	0.19%	–
OC	New	Owens Corningcs	$365,000	–	3,725	–	0.19%	–
IDXX	New	Idexx Laboratoriescs	$363,000	–	575	–	0.19%	–
ZBH	New	Zimmer Biometcs	$358,000	–	2,225	–	0.18%	–
MDC	New	M.D.C. Holdings, Inc.cs	$351,000	–	6,944	–	0.18%	–
PNR	New	Pentaircs	$349,000	–	5,166	–	0.18%	–
SHW	New	Sherwin-Williamscs	$347,000	–	1,275	–	0.18%	–
NX	New	Quanex Building Products Corpocs	$345,000	–	13,900	–	0.18%	–
FSLR	New	First Solarcs	$337,000	–	3,725	–	0.17%	–
ABB	New	ABB LTDcs	$332,000	–	9,775	–	0.17%	–
KKR	New	KKR & Cocs	$332,000	–	5,600	–	0.17%	–
GM	New	General Motorscs	$328,000	–	5,550	–	0.17%	–
EVRG	New	Evergy, Inc.cs	$317,000	–	5,250	–	0.16%	–
XYL	New	Xylem Inccs	$312,000	–	2,600	–	0.16%	–
J	New	Jacobs Engineeringcs	$307,000	–	2,300	–	0.16%	–
FTDR	New	frontdoor, inc.cs	$304,000	–	6,100	–	0.16%	–
GS	New	Goldman Sachscs	$294,000	–	775	–	0.15%	–
ZBRA	New	Zebra Technologiescs	$291,000	–	550	–	0.15%	–
AMCR	New	Amcor plccs	$281,000	–	24,505	–	0.14%	–
AGR	New	Avangrid, Inc.cs	$276,000	–	5,375	–	0.14%	–
VRSK	New	Verisk Analyticscs	$275,000	–	1,575	–	0.14%	–
INTU	New	Intuit Inc.cs	$270,000	–	550	–	0.14%	–
DHI	New	DR Hortoncs	$270,000	–	2,988	–	0.14%	–
COUP	New	Coupa Software Incorporatedcs	$269,000	–	1,025	–	0.14%	–
ALL	New	Allstatecs	$261,000	–	2,000	–	0.14%	–
DRI	New	Darden Restaurantscs	$255,000	–	1,750	–	0.13%	–
CNBKA	New	Century Bancorpcs	$250,000	–	2,190	–	0.13%	–
CNQ	New	Canadian Natural Resourcescs	$245,000	–	6,750	–	0.13%	–
BEP	New	Brookfield Renewable Partnerscs	$245,000	–	6,350	–	0.13%	–
SLB	New	Schlumbergercs	$242,000	–	7,546	–	0.12%	–
BK	New	Bank of NY Melloncs	$239,000	–	4,670	–	0.12%	–
VALE	New	Vale S.A.cs	$237,000	–	10,405	–	0.12%	–
IBP	New	Installed Building Products Incs	$236,000	–	1,925	–	0.12%	–
MHO	New	M/I Homescs	$232,000	–	3,950	–	0.12%	–
T	New	A T & Tcs	$224,000	–	7,795	–	0.12%	–
CLX	New	Clorox Companycs	$225,000	–	1,250	–	0.12%	–
DAL	New	Delta Airlinescs	$225,000	–	5,200	–	0.12%	–
COST	New	Costco Wholesalecs	$218,000	–	550	–	0.11%	–
TXN	New	Texas Instrumentscs	$216,000	–	1,125	–	0.11%	–
LIN	New	Linde PLCcs	$217,000	–	750	–	0.11%	–
UTHR	New	United Therapeutics Corporatiocs	$202,000	–	1,125	–	0.10%	–
PATK	New	Patrick Industriescs	$201,000	–	2,750	–	0.10%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
GE	Exit	General Electriccs	$0	–	-26,440	–	-0.12%	–
BXMT	Exit	Blackstone Mortgage Trustcs	$0	–	-9,500	–	-0.15%	–
XYL	Exit	Xylem Inccs	$0	–	-2,600	–	-0.16%	–
DHI	Exit	DR Hortoncs	$0	–	-3,013	–	-0.16%	–
MGM	Exit	MGM Resorts Internationalcs	$0	–	-10,550	–	-0.17%	–
SWKS	Exit	Skyworks Solutions Inccs	$0	–	-1,625	–	-0.17%	–
IDXX	Exit	Idexx Laboratoriescs	$0	–	-600	–	-0.17%	–
STZ	Exit	Constellation Brandscs	$0	–	-1,250	–	-0.17%	–
CRUS	Exit	Cirrus Logiccs	$0	–	-3,725	–	-0.18%	–
IBP	Exit	Installed Building Products Incs	$0	–	-2,475	–	-0.18%	–
JPM	Exit	J.P. Morgan Chasecs	$0	–	-2,623	–	-0.18%	–
FSLR	Exit	First Solarcs	$0	–	-3,850	–	-0.18%	–
R	Exit	Ryder System, Inc.cs	$0	–	-6,050	–	-0.18%	–
LITE	Exit	Lumentum Holdingscs	$0	–	-3,450	–	-0.19%	–
FLIR	Exit	FLIR Systems Inc.cs	$0	–	-7,475	–	-0.19%	–
IRDM	Exit	Iridium Communicationscs	$0	–	-10,502	–	-0.20%	–
EQT	Exit	EQT Corpcs	$0	–	-20,875	–	-0.20%	–
LNG	Exit	Cheniere Energy, Inc.cs	$0	–	-5,925	–	-0.20%	–
CP	Exit	Canadian Pacificcs	$0	–	-955	–	-0.21%	–
SHW	Exit	Sherwin-Williamscs	$0	–	-425	–	-0.21%	–
BLL	Exit	Ballcs	$0	–	-3,550	–	-0.21%	–
SCHW	Exit	Charles Schwabcs	$0	–	-8,325	–	-0.22%	–
EW	Exit	Edwards Lifesciencescs	$0	–	-3,780	–	-0.22%	–
LHX	Exit	L3Harris Technologiescs	$0	–	-1,800	–	-0.22%	–
CMCSA	Exit	Comcast Corp Cl Acs	$0	–	-6,646	–	-0.22%	–
VRSK	Exit	Verisk Analyticscs	$0	–	-1,675	–	-0.22%	–
AKAM	Exit	Akamai Technologiescs	$0	–	-2,850	–	-0.23%	–
AZN	Exit	Astrazenecacs	$0	–	-5,750	–	-0.23%	–
ATVI	Exit	Activision Blizzardcs	$0	–	-4,020	–	-0.24%	–
FISV	Exit	Fiserv Inc.cs	$0	–	-3,146	–	-0.24%	–
CWH	Exit	Camping Worldcs	$0	–	-11,250	–	-0.24%	–
AMGN	Exit	Amgencs	$0	–	-1,400	–	-0.26%	–
WFC	Exit	Wells Fargocs	$0	–	-15,140	–	-0.26%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-8,350	–	-0.26%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-6,294	–	-0.26%	–
CGNX	Exit	Cognexcs	$0	–	-5,625	–	-0.26%	–
OSK	Exit	Oshkosh Corpcs	$0	–	-5,013	–	-0.27%	–
PYPL	Exit	PayPalcs	$0	–	-1,925	–	-0.27%	–
CTVA	Exit	Cortevacs	$0	–	-13,273	–	-0.28%	–
PING	Exit	Ping Identity Holdingcs	$0	–	-13,000	–	-0.29%	–
AMZN	Exit	Amazon, Inc.cs	$0	–	-129	–	-0.29%	–
EMR	Exit	Emerson Electriccs	$0	–	-6,258	–	-0.30%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-11,050	–	-0.30%	–
TRN	Exit	Trinity Industriescs	$0	–	-24,783	–	-0.35%	–
AGR	Exit	Avangrid, Inc.cs	$0	–	-10,150	–	-0.37%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-9,235	–	-0.39%	–
CIEN	Exit	Ciena Corporationcs	$0	–	-13,910	–	-0.40%	–
NTDOY	Exit	Nintendo Cocs	$0	–	-8,000	–	-0.41%	–
ELAN	Exit	Elanco Animal Healthcs	$0	–	-20,600	–	-0.42%	–
INVH	Exit	Invitation Homes Inc.cs	$0	–	-20,600	–	-0.42%	–
SJM	Exit	J.M. Smucker Companycs	$0	–	-5,058	–	-0.42%	–
PFPT	Exit	Proofpoint, Inc.cs	$0	–	-5,550	–	-0.42%	–
EL	Exit	Estee Laudercs	$0	–	-2,758	–	-0.44%	–
ADBE	Exit	Adobe Systemscs	$0	–	-1,230	–	-0.44%	–
AMWD	Exit	American Woodmark Corporationcs	$0	–	-7,845	–	-0.45%	–
BDX	Exit	Becton Dickinsoncs	$0	–	-2,750	–	-0.46%	–
EVBG	Exit	Everbridge, Inc.cs	$0	–	-5,100	–	-0.46%	–
CRM	Exit	Salesforce.comcs	$0	–	-2,655	–	-0.48%	–
PWR	Exit	Quanta Servicescs	$0	–	-12,800	–	-0.49%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-8,938	–	-0.50%	–
EA	Exit	Electronic Artscs	$0	–	-5,485	–	-0.52%	–
XOM	Exit	Exxon Mobilcs	$0	–	-21,338	–	-0.53%	–
SYY	Exit	Sysco Corpcs	$0	–	-11,804	–	-0.53%	–
QRVO	Exit	Qorvo Inccs	$0	–	-5,775	–	-0.54%	–
ECL	Exit	Ecolabcs	$0	–	-3,750	–	-0.54%	–
IFF	Exit	Int'l Flvrs & Frag.cs	$0	–	-6,105	–	-0.54%	–
CCI	Exit	Crown Castle International Corcs	$0	–	-4,500	–	-0.54%	–
HD	Exit	Home Depotcs	$0	–	-2,731	–	-0.55%	–
CTXS	Exit	Citrix Systemscs	$0	–	-5,525	–	-0.55%	–
PLD	Exit	ProLogiscs	$0	–	-7,575	–	-0.55%	–
OC	Exit	Owens Corningcs	$0	–	-11,325	–	-0.56%	–
DIS	Exit	Walt Disneycs	$0	–	-6,295	–	-0.57%	–
INDB	Exit	Independent Bankcs	$0	–	-15,034	–	-0.57%	–
FFIV	Exit	F5 Networkscs	$0	–	-6,675	–	-0.59%	–
PEP	Exit	Pepsicocs	$0	–	-5,938	–	-0.60%	–
FDX	Exit	FedExcs	$0	–	-3,275	–	-0.60%	–
EVRG	Exit	Evergy, Inc.cs	$0	–	-16,750	–	-0.62%	–
T	Exit	A T & Tcs	$0	–	-30,945	–	-0.64%	–
MDT	Exit	Medtronic PLCcs	$0	–	-8,544	–	-0.64%	–
JNPR	Exit	Junipercs	$0	–	-41,575	–	-0.65%	–
REGN	Exit	Regeneron Pharmaceuticalscs	$0	–	-1,605	–	-0.65%	–
KSU	Exit	Kansas City So.cs	$0	–	-5,207	–	-0.68%	–
J	Exit	Jacobs Engineeringcs	$0	–	-10,726	–	-0.72%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-5,714	–	-0.72%	–
FB	Exit	Facebook Inccs	$0	–	-3,906	–	-0.74%	–
MMM	Exit	3M Corp.cs	$0	–	-6,445	–	-0.75%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-706	–	-0.75%	–
TFC	Exit	Truist Financial Corpcs	$0	–	-28,209	–	-0.78%	–
CHGG	Exit	Chegg, Inc.cs	$0	–	-15,025	–	-0.78%	–
MRVL	Exit	Marvell Technologiescs	$0	–	-27,387	–	-0.79%	–
MCD	Exit	McDonald'scs	$0	–	-4,967	–	-0.79%	–
KNX	Exit	Knight Swift Transportationcs	$0	–	-26,825	–	-0.79%	–
NVS	Exit	Novartis AG ADScs	$0	–	-12,558	–	-0.79%	–
K	Exit	Kelloggcs	$0	–	-17,748	–	-0.83%	–
LDOS	Exit	Leidos Holdings, Inc.cs	$0	–	-13,142	–	-0.85%	–
SBUX	Exit	Starbuckscs	$0	–	-13,845	–	-0.86%	–
MS	Exit	Morgan Stanleycs	$0	–	-24,750	–	-0.87%	–
BSX	Exit	Boston Scientificcs	$0	–	-32,538	–	-0.90%	–
TER	Exit	Teradynecs	$0	–	-15,904	–	-0.92%	–
UNP	Exit	Union Pacificcs	$0	–	-6,455	–	-0.92%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-14,620	–	-0.93%	–
INTC	Exit	Intelcs	$0	–	-25,413	–	-0.95%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-10,800	–	-0.98%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-11,179	–	-0.98%	–
WM	Exit	Waste Management Inc.cs	$0	–	-12,793	–	-1.05%	–
V	Exit	Visacs	$0	–	-7,487	–	-1.08%	–
PPG	Exit	PPG Industriescs	$0	–	-13,428	–	-1.19%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-7,711	–	-1.19%	–
GIS	Exit	General Millscs	$0	–	-26,775	–	-1.20%	–
WMT	Exit	Walmart Inc.cs	$0	–	-11,822	–	-1.20%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-1,150	–	-1.22%	–
ADI	Exit	Analog Devicescs	$0	–	-14,685	–	-1.24%	–
LLY	Exit	Eli Lillycs	$0	–	-11,890	–	-1.27%	–
BRKS	Exit	Brooks Automationcs	$0	–	-38,455	–	-1.29%	–
PG	Exit	Procter & Gamblecs	$0	–	-13,501	–	-1.36%	–
WASH	Exit	Washington Trustcs	$0	–	-65,305	–	-1.45%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-34,762	–	-1.52%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-13,237	–	-1.58%	–
VZ	Exit	Verizon Comm.cs	$0	–	-36,860	–	-1.59%	–
MRK	Exit	Merckcs	$0	–	-29,422	–	-1.77%	–
CSX	Exit	CSX Corpcs	$0	–	-32,300	–	-1.82%	–
KO	Exit	Coca-Colacs	$0	–	-55,025	–	-1.97%	–
UPS	Exit	UPScs	$0	–	-16,860	–	-2.03%	–
ZTS	Exit	Zoetis Inccs	$0	–	-17,023	–	-2.04%	–
MSFT	Exit	Microsoftcs	$0	–	-13,609	–	-2.07%	–
ABT	Exit	Abbott Labscs	$0	–	-26,478	–	-2.09%	–
PFE	Exit	Pfizercs	$0	–	-82,772	–	-2.20%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-20,788	–	-2.22%	–
CSCO	Exit	Cisco Systemscs	$0	–	-102,662	–	-2.93%	–
AAPL	Exit	Apple Computercs	$0	–	-39,076	–	-3.28%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-35,345	–	-3.81%	–
CHD	Exit	Church and Dwightcs	$0	–	-66,500	–	-4.51%	–

Q3 2020

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$6,232,000	+8.2%	66,500	-10.8%	4.51%	+9.5%
JNJ	Buy	Johnson & Johnsoncs	$5,262,000	+7.3%	35,345	+1.3%	3.81%	+8.5%
AAPL	Buy	Apple Computercs	$4,525,000	+12.5%	39,076	+254.5%	3.28%	+13.9%
CSCO	Buy	Cisco Systemscs	$4,044,000	-8.4%	102,662	+8.5%	2.93%	-7.3%
PFE	Sell	Pfizercs	$3,038,000	+11.8%	82,772	-0.4%	2.20%	+13.1%
ABT	Sell	Abbott Labscs	$2,882,000	+18.7%	26,478	-0.3%	2.09%	+20.1%
MSFT	Sell	Microsoftcs	$2,862,000	-4.4%	13,609	-7.5%	2.07%	-3.3%
ZTS	Sell	Zoetis Inccs	$2,815,000	+19.4%	17,023	-1.0%	2.04%	+20.8%
UPS	Sell	UPScs	$2,809,000	+4.5%	16,860	-30.3%	2.03%	+5.7%
KO	Buy	Coca-Colacs	$2,717,000	+16.2%	55,025	+5.2%	1.97%	+17.6%
CSX	Buy	CSX Corpcs	$2,509,000	+12.2%	32,300	+0.7%	1.82%	+13.5%
MRK	Sell	Merckcs	$2,441,000	-10.0%	29,422	-16.1%	1.77%	-8.9%
VZ	Sell	Verizon Comm.cs	$2,193,000	+7.3%	36,860	-0.5%	1.59%	+8.6%
HON	Buy	Honeywell Int'l.cs	$2,179,000	+23.7%	13,237	+8.6%	1.58%	+25.1%
BMY	Sell	Bristol Myers Squibbcs	$2,096,000	-8.9%	34,762	-11.2%	1.52%	-7.8%
WASH	Sell	Washington Trustcs	$2,002,000	-6.6%	65,305	-0.2%	1.45%	-5.5%
BRKS	Buy	Brooks Automationcs	$1,779,000	+28.6%	38,455	+23.1%	1.29%	+30.1%
LLY	New	Eli Lillycs	$1,760,000	–	11,890	–	1.27%	–
ADI	Buy	Analog Devicescs	$1,714,000	+86.9%	14,685	+96.5%	1.24%	+89.2%
GOOGL	Buy	Alphabet Inc Class Acs	$1,685,000	+16.1%	1,150	+12.4%	1.22%	+17.5%
WMT	Buy	Walmart Inc.cs	$1,654,000	+442.3%	11,822	+364.2%	1.20%	+449.5%
GIS	Buy	General Millscs	$1,651,000	+9.6%	26,775	+9.6%	1.20%	+10.9%
BRKB	Buy	Berkshire Hathaway Bcs	$1,642,000	+35.0%	7,711	+13.2%	1.19%	+36.7%
PPG	Buy	PPG Industriescs	$1,639,000	+638.3%	13,428	+542.5%	1.19%	+646.5%
V	Buy	Visacs	$1,497,000	+52.3%	7,487	+47.2%	1.08%	+54.2%
WM	Sell	Waste Management Inc.cs	$1,448,000	+6.5%	12,793	-0.3%	1.05%	+7.9%
IBM	Buy	Int'l Bus. Mach.cs	$1,360,000	+19.4%	11,179	+18.5%	0.98%	+20.9%
NKE	Sell	Nike Inc Class Bcs	$1,356,000	-8.2%	10,800	-28.3%	0.98%	-7.1%
INTC	Buy	Intelcs	$1,316,000	-12.1%	25,413	+1.6%	0.95%	-11.0%
ABBV	Sell	AbbVie Inc.cs	$1,281,000	-11.3%	14,620	-0.6%	0.93%	-10.2%
UNP	Sell	Union Pacificcs	$1,271,000	-22.4%	6,455	-33.3%	0.92%	-21.4%
TER	New	Teradynecs	$1,264,000	–	15,904	–	0.92%	–
BSX	Buy	Boston Scientificcs	$1,243,000	+15.3%	32,538	+6.0%	0.90%	+16.7%
MS	Buy	Morgan Stanleycs	$1,197,000	+133.3%	24,750	+132.9%	0.87%	+136.2%
SBUX	Sell	Starbuckscs	$1,190,000	+16.3%	13,845	-0.4%	0.86%	+17.8%
LDOS	Sell	Leidos Holdings, Inc.cs	$1,172,000	-44.3%	13,142	-41.5%	0.85%	-43.7%
K	Sell	Kelloggcs	$1,146,000	-2.6%	17,748	-0.3%	0.83%	-1.4%
NVS	Sell	Novartis AG ADScs	$1,092,000	-1.4%	12,558	-0.9%	0.79%	-0.1%
KNX	Sell	Knight Swift Transportationcs	$1,092,000	-5.2%	26,825	-2.9%	0.79%	-4.0%
MRVL	Sell	Marvell Technologiescs	$1,087,000	-10.3%	27,387	-20.8%	0.79%	-9.2%
CHGG	New	Chegg, Inc.cs	$1,073,000	–	15,025	–	0.78%	–
TFC	Sell	Truist Financial Corpcs	$1,073,000	-5.8%	28,209	-7.0%	0.78%	-4.7%
MMM	Buy	3M Corp.cs	$1,032,000	+12.2%	6,445	+9.3%	0.75%	+13.5%
FB	Sell	Facebook Inccs	$1,023,000	-28.9%	3,906	-38.3%	0.74%	-28.0%
URI	Sell	United Rentals, Inc.cs	$997,000	-2.9%	5,714	-17.1%	0.72%	-1.8%
J	Sell	Jacobs Engineeringcs	$995,000	+8.6%	10,726	-0.7%	0.72%	+10.1%
KSU	Buy	Kansas City So.cs	$942,000	+72.5%	5,207	+42.4%	0.68%	+74.4%
REGN	New	Regeneron Pharmaceuticalscs	$898,000	–	1,605	–	0.65%	–
JNPR	Buy	Junipercs	$894,000	+17.9%	41,575	+25.4%	0.65%	+19.4%
MDT	Sell	Medtronic PLCcs	$888,000	+12.8%	8,544	-0.4%	0.64%	+14.2%
T	Sell	A T & Tcs	$882,000	-11.8%	30,945	-6.5%	0.64%	-10.8%
EVRG	New	Evergy, Inc.cs	$851,000	–	16,750	–	0.62%	–
FFIV	New	F5 Networkscs	$819,000	–	6,675	–	0.59%	–
INDB	Sell	Independent Bankcs	$787,000	-34.7%	15,034	-16.4%	0.57%	-34.0%
DIS	Sell	Walt Disneycs	$781,000	+9.1%	6,295	-1.9%	0.57%	+10.5%
OC	Sell	Owens Corningcs	$779,000	-6.8%	11,325	-24.5%	0.56%	-5.7%
PLD	New	ProLogiscs	$762,000	–	7,575	–	0.55%	–
CTXS	Sell	Citrix Systemscs	$761,000	-43.3%	5,525	-39.1%	0.55%	-42.6%
HD	Sell	Home Depotcs	$758,000	+5.0%	2,731	-5.2%	0.55%	+6.2%
IFF	Sell	Int'l Flvrs & Frag.cs	$748,000	-16.0%	6,105	-16.1%	0.54%	-15.0%
CCI	New	Crown Castle International Corcs	$749,000	–	4,500	–	0.54%	–
ECL	Buy	Ecolabcs	$749,000	+30.9%	3,750	+30.4%	0.54%	+32.5%
QRVO	Buy	Qorvo Inccs	$745,000	+49.9%	5,775	+28.3%	0.54%	+51.4%
SYY	Sell	Sysco Corpcs	$734,000	+2.1%	11,804	-10.3%	0.53%	+3.3%
XOM	Sell	Exxon Mobilcs	$733,000	-34.4%	21,338	-14.6%	0.53%	-33.5%
EA	Sell	Electronic Artscs	$715,000	-9.1%	5,485	-8.0%	0.52%	-8.0%
CRM	Sell	Salesforce.comcs	$667,000	+16.6%	2,655	-13.1%	0.48%	+18.1%
EVBG	New	Everbridge, Inc.cs	$641,000	–	5,100	–	0.46%	–
BDX	Sell	Becton Dickinsoncs	$640,000	-30.5%	2,750	-28.6%	0.46%	-29.7%
AMWD	Buy	American Woodmark Corporationcs	$616,000	+77.0%	7,845	+70.7%	0.45%	+79.1%
ADBE	Buy	Adobe Systemscs	$603,000	+38.6%	1,230	+23.0%	0.44%	+40.5%
EL	Sell	Estee Laudercs	$602,000	+13.2%	2,758	-2.2%	0.44%	+14.4%
PFPT	Buy	Proofpoint, Inc.cs	$586,000	+14.7%	5,550	+20.7%	0.42%	+15.8%
SJM	New	J.M. Smucker Companycs	$584,000	–	5,058	–	0.42%	–
INVH	New	Invitation Homes Inc.cs	$577,000	–	20,600	–	0.42%	–
ELAN	Sell	Elanco Animal Healthcs	$575,000	-16.8%	20,600	-36.0%	0.42%	-15.8%
NTDOY	New	Nintendo Cocs	$567,000	–	8,000	–	0.41%	–
CIEN	New	Ciena Corporationcs	$552,000	–	13,910	–	0.40%	–
CVS	Sell	C.V.S. Caremarkcs	$539,000	-67.5%	9,235	-63.8%	0.39%	-67.1%
AGR	New	Avangrid, Inc.cs	$512,000	–	10,150	–	0.37%	–
TRN	Sell	Trinity Industriescs	$483,000	-39.3%	24,783	-33.7%	0.35%	-38.6%
GSK	Sell	GlaxoSmithKlinecs	$416,000	-9.8%	11,050	-2.2%	0.30%	-8.8%
AMZN	Sell	Amazon, Inc.cs	$406,000	-22.5%	129	-32.1%	0.29%	-21.6%
PING	New	Ping Identity Holdingcs	$406,000	–	13,000	–	0.29%	–
CTVA	New	Cortevacs	$382,000	–	13,273	–	0.28%	–
OSK	Sell	Oshkosh Corpcs	$368,000	+1.7%	5,013	-0.7%	0.27%	+2.7%
CGNX	New	Cognexcs	$366,000	–	5,625	–	0.26%	–
QSR	Sell	Restaurant Brands Int'lcs	$362,000	-69.9%	6,294	-71.4%	0.26%	-69.5%
RHHBY	Sell	Roche Holdings Ltdcs	$357,000	-56.8%	8,350	-56.2%	0.26%	-56.2%
AMGN	Sell	Amgencs	$356,000	-59.5%	1,400	-62.5%	0.26%	-59.0%
WFC	Sell	Wells Fargocs	$356,000	-16.6%	15,140	-9.3%	0.26%	-15.7%
CWH	New	Camping Worldcs	$335,000	–	11,250	–	0.24%	–
FISV	New	Fiserv Inc.cs	$324,000	–	3,146	–	0.24%	–
ATVI	Sell	Activision Blizzardcs	$325,000	-68.8%	4,020	-70.7%	0.24%	-68.5%
AKAM	New	Akamai Technologiescs	$315,000	–	2,850	–	0.23%	–
AZN	Sell	Astrazenecacs	$315,000	+1.0%	5,750	-2.7%	0.23%	+2.2%
VRSK	Sell	Verisk Analyticscs	$310,000	-35.0%	1,675	-40.2%	0.22%	-34.3%
LHX	Sell	L3Harris Technologiescs	$306,000	-64.8%	1,800	-64.9%	0.22%	-64.4%
SCHW	Sell	Charles Schwabcs	$302,000	+1.0%	8,325	-5.9%	0.22%	+2.3%
BLL	New	Ballcs	$295,000	–	3,550	–	0.21%	–
CP	Sell	Canadian Pacificcs	$291,000	+10.6%	955	-7.3%	0.21%	+12.2%
EQT	New	EQT Corpcs	$270,000	–	20,875	–	0.20%	–
FLIR	Sell	FLIR Systems Inc.cs	$268,000	-40.3%	7,475	-32.4%	0.19%	-39.6%
LITE	Sell	Lumentum Holdingscs	$259,000	-69.8%	3,450	-67.3%	0.19%	-69.4%
R	Sell	Ryder System, Inc.cs	$256,000	-1.9%	6,050	-12.9%	0.18%	-1.1%
FSLR	New	First Solarcs	$255,000	–	3,850	–	0.18%	–
JPM	Sell	J.P. Morgan Chasecs	$253,000	-33.1%	2,623	-34.8%	0.18%	-32.2%
IBP	New	Installed Building Products Incs	$252,000	–	2,475	–	0.18%	–
CRUS	Sell	Cirrus Logiccs	$251,000	-71.7%	3,725	-74.1%	0.18%	-71.3%
STZ	New	Constellation Brandscs	$237,000	–	1,250	–	0.17%	–
IDXX	Sell	Idexx Laboratoriescs	$236,000	-32.0%	600	-42.9%	0.17%	-31.0%
SWKS	Sell	Skyworks Solutions Inccs	$236,000	-75.0%	1,625	-78.0%	0.17%	-74.7%
MGM	New	MGM Resorts Internationalcs	$229,000	–	10,550	–	0.17%	–
DHI	Sell	DR Hortoncs	$228,000	-33.9%	3,013	-51.6%	0.16%	-33.2%
XYL	New	Xylem Inccs	$219,000	–	2,600	–	0.16%	–
UNVR	Exit	Univar Solutions Inc.cs	$0	–	-10,750	–	-0.13%	–
VIAV	Exit	Viavi Solutionscs	$0	–	-14,250	–	-0.13%	–
JHG	Exit	Janus Henderson Groupcs	$0	–	-10,450	–	-0.16%	–
WLK	Exit	Westlake Chemicalcs	$0	–	-4,350	–	-0.17%	–
TWTR	Exit	Twittercs	$0	–	-8,950	–	-0.19%	–
MHK	Exit	Mohawk Industriescs	$0	–	-2,625	–	-0.19%	–
ICE	Exit	Intercontinental Exchangecs	$0	–	-3,375	–	-0.22%	–
SAIC	Exit	Science Applications Internatics	$0	–	-4,050	–	-0.22%	–
TEX	Exit	Terexcs	$0	–	-17,050	–	-0.23%	–
WY	Exit	Weyerhaeusercs	$0	–	-14,775	–	-0.24%	–
EBS	Exit	Emergent Biosolutionscs	$0	–	-4,500	–	-0.26%	–
BIIB	Exit	Biogen Ideccs	$0	–	-1,375	–	-0.26%	–
MET	Exit	MetLifecs	$0	–	-10,350	–	-0.27%	–
ORCL	Exit	Oraclecs	$0	–	-6,825	–	-0.27%	–
NFLX	Exit	Netflixcs	$0	–	-840	–	-0.27%	–
HEI	Exit	Heico Corpcs	$0	–	-3,850	–	-0.28%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-15,670	–	-0.28%	–
AVGO	Exit	Broadcomcs	$0	–	-1,250	–	-0.28%	–
GILD	Exit	Gilead Sciencescs	$0	–	-5,410	–	-0.30%	–
KR	Exit	Krogercs	$0	–	-13,050	–	-0.32%	–
MA	Exit	Mastercard Inccs	$0	–	-1,575	–	-0.33%	–
SONY	Exit	Sony Corpcs	$0	–	-6,720	–	-0.33%	–
PPC	Exit	Pilgrim's Pride Corporationcs	$0	–	-30,350	–	-0.37%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-7,214	–	-0.40%	–
ALNY	Exit	Alnylam Pharmaceuticals, Inc.cs	$0	–	-4,100	–	-0.43%	–
PKG	Exit	Packaging Corp of Americacs	$0	–	-6,225	–	-0.44%	–
COST	Exit	Costco Wholesalecs	$0	–	-2,050	–	-0.44%	–
LEN	Exit	Lennarcs	$0	–	-10,325	–	-0.46%	–
DRI	Exit	Darden Restaurantscs	$0	–	-9,348	–	-0.51%	–
TMO	Exit	Thermo Fisher Scientific Inc.cs	$0	–	-2,125	–	-0.55%	–
ALB	Exit	Albemarle Corp.cs	$0	–	-10,500	–	-0.58%	–
AMN	Exit	AMN Healthcare Servicescs	$0	–	-20,660	–	-0.67%	–
IONS	Exit	Ionis Pharmaceuticals Inccs	$0	–	-18,890	–	-0.80%	–
AMD	Exit	Advanced Micro Devicescs	$0	–	-23,075	–	-0.87%	–
TSN	Exit	Tyson Foodscs	$0	–	-22,075	–	-0.94%	–

Q2 2020

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,761,000	–	74,525	–	4.12%	–
JNJ	New	Johnson & Johnsoncs	$4,906,000	–	34,889	–	3.51%	–
CSCO	New	Cisco Systemscs	$4,414,000	–	94,650	–	3.16%	–
AAPL	New	Apple Computercs	$4,022,000	–	11,024	–	2.88%	–
MSFT	New	Microsoftcs	$2,993,000	–	14,709	–	2.14%	–
KMB	New	Kimberly Clarkcs	$2,938,000	–	20,788	–	2.10%	–
PFE	New	Pfizercs	$2,718,000	–	83,109	–	1.94%	–
MRK	New	Merckcs	$2,712,000	–	35,070	–	1.94%	–
UPS	New	UPScs	$2,688,000	–	24,175	–	1.92%	–
ABT	New	Abbott Labscs	$2,428,000	–	26,553	–	1.74%	–
ZTS	New	Zoetis Inccs	$2,357,000	–	17,198	–	1.69%	–
KO	New	Coca-Colacs	$2,338,000	–	52,325	–	1.67%	–
BMY	New	Bristol Myers Squibbcs	$2,301,000	–	39,137	–	1.65%	–
CSX	New	CSX Corpcs	$2,237,000	–	32,075	–	1.60%	–
WASH	New	Washington Trustcs	$2,144,000	–	65,455	–	1.53%	–
LDOS	New	Leidos Holdings, Inc.cs	$2,106,000	–	22,479	–	1.51%	–
VZ	New	Verizon Comm.cs	$2,043,000	–	37,060	–	1.46%	–
HON	New	Honeywell Int'l.cs	$1,762,000	–	12,187	–	1.26%	–
CVS	New	C.V.S. Caremarkcs	$1,657,000	–	25,500	–	1.19%	–
UNP	New	Union Pacificcs	$1,637,000	–	9,680	–	1.17%	–
PG	New	Procter & Gamblecs	$1,614,000	–	13,501	–	1.16%	–
GIS	New	General Millscs	$1,506,000	–	24,425	–	1.08%	–
INTC	New	Intelcs	$1,497,000	–	25,013	–	1.07%	–
NKE	New	Nike Inc Class Bcs	$1,477,000	–	15,060	–	1.06%	–
GOOGL	New	Alphabet Inc Class Acs	$1,451,000	–	1,023	–	1.04%	–
ABBV	New	AbbVie Inc.cs	$1,444,000	–	14,705	–	1.03%	–
FB	New	Facebook Inccs	$1,438,000	–	6,331	–	1.03%	–
BRKS	New	Brooks Automationcs	$1,383,000	–	31,250	–	0.99%	–
WM	New	Waste Management Inc.cs	$1,359,000	–	12,830	–	0.97%	–
CTXS	New	Citrix Systemscs	$1,342,000	–	9,075	–	0.96%	–
TSN	New	Tyson Foodscs	$1,318,000	–	22,075	–	0.94%	–
BRKB	New	Berkshire Hathaway Bcs	$1,216,000	–	6,811	–	0.87%	–
AMD	New	Advanced Micro Devicescs	$1,214,000	–	23,075	–	0.87%	–
MRVL	New	Marvell Technologiescs	$1,212,000	–	34,558	–	0.87%	–
INDB	New	Independent Bankcs	$1,206,000	–	17,983	–	0.86%	–
QSR	New	Restaurant Brands Int'lcs	$1,202,000	–	22,007	–	0.86%	–
K	New	Kelloggcs	$1,176,000	–	17,798	–	0.84%	–
KNX	New	Knight Swift Transportationcs	$1,152,000	–	27,625	–	0.82%	–
IBM	New	Int'l Bus. Mach.cs	$1,139,000	–	9,434	–	0.82%	–
TFC	New	Truist Financial Corpcs	$1,139,000	–	30,339	–	0.82%	–
XOM	New	Exxon Mobilcs	$1,117,000	–	24,986	–	0.80%	–
IONS	New	Ionis Pharmaceuticals Inccs	$1,114,000	–	18,890	–	0.80%	–
NVS	New	Novartis AG ADScs	$1,107,000	–	12,670	–	0.79%	–
BSX	New	Boston Scientificcs	$1,078,000	–	30,700	–	0.77%	–
ATVI	New	Activision Blizzardcs	$1,042,000	–	13,730	–	0.75%	–
URI	New	United Rentals, Inc.cs	$1,027,000	–	6,889	–	0.74%	–
SBUX	New	Starbuckscs	$1,023,000	–	13,895	–	0.73%	–
T	New	A T & Tcs	$1,000,000	–	33,095	–	0.72%	–
GOOG	New	Alphabet Inc Class Ccs	$998,000	–	706	–	0.71%	–
V	New	Visacs	$983,000	–	5,087	–	0.70%	–
SWKS	New	Skyworks Solutions Inccs	$943,000	–	7,375	–	0.68%	–
AMN	New	AMN Healthcare Servicescs	$935,000	–	20,660	–	0.67%	–
BDX	New	Becton Dickinsoncs	$921,000	–	3,850	–	0.66%	–
MMM	New	3M Corp.cs	$920,000	–	5,895	–	0.66%	–
ADI	New	Analog Devicescs	$917,000	–	7,475	–	0.66%	–
MCD	New	McDonald'scs	$916,000	–	4,967	–	0.66%	–
J	New	Jacobs Engineeringcs	$916,000	–	10,800	–	0.66%	–
IFF	New	Int'l Flvrs & Frag.cs	$891,000	–	7,278	–	0.64%	–
CRUS	New	Cirrus Logiccs	$888,000	–	14,375	–	0.64%	–
AMGN	New	Amgencs	$880,000	–	3,729	–	0.63%	–
LHX	New	L3Harris Technologiescs	$870,000	–	5,130	–	0.62%	–
LITE	New	Lumentum Holdingscs	$859,000	–	10,550	–	0.62%	–
OC	New	Owens Corningcs	$836,000	–	15,000	–	0.60%	–
RHHBY	New	Roche Holdings Ltdcs	$827,000	–	19,057	–	0.59%	–
ALB	New	Albemarle Corp.cs	$811,000	–	10,500	–	0.58%	–
TRN	New	Trinity Industriescs	$796,000	–	37,398	–	0.57%	–
MDT	New	Medtronic PLCcs	$787,000	–	8,581	–	0.56%	–
EA	New	Electronic Artscs	$787,000	–	5,960	–	0.56%	–
PEP	New	Pepsicocs	$785,000	–	5,938	–	0.56%	–
TMO	New	Thermo Fisher Scientific Inc.cs	$770,000	–	2,125	–	0.55%	–
JNPR	New	Junipercs	$758,000	–	33,150	–	0.54%	–
HD	New	Home Depotcs	$722,000	–	2,881	–	0.52%	–
SYY	New	Sysco Corpcs	$719,000	–	13,154	–	0.52%	–
DIS	New	Walt Disneycs	$716,000	–	6,420	–	0.51%	–
DRI	New	Darden Restaurantscs	$708,000	–	9,348	–	0.51%	–
ELAN	New	Elanco Animal Healthcs	$691,000	–	32,200	–	0.49%	–
CL	New	Colgate-Palmolivecs	$655,000	–	8,938	–	0.47%	–
LEN	New	Lennarcs	$636,000	–	10,325	–	0.46%	–
COST	New	Costco Wholesalecs	$622,000	–	2,050	–	0.44%	–
PKG	New	Packaging Corp of Americacs	$621,000	–	6,225	–	0.44%	–
ALNY	New	Alnylam Pharmaceuticals, Inc.cs	$607,000	–	4,100	–	0.43%	–
ECL	New	Ecolabcs	$572,000	–	2,875	–	0.41%	–
CRM	New	Salesforce.comcs	$572,000	–	3,055	–	0.41%	–
CNBKA	New	Century Bancorpcs	$561,000	–	7,214	–	0.40%	–
KSU	New	Kansas City So.cs	$546,000	–	3,657	–	0.39%	–
EL	New	Estee Laudercs	$532,000	–	2,820	–	0.38%	–
AMZN	New	Amazon, Inc.cs	$524,000	–	190	–	0.38%	–
PPC	New	Pilgrim's Pride Corporationcs	$513,000	–	30,350	–	0.37%	–
MS	New	Morgan Stanleycs	$513,000	–	10,625	–	0.37%	–
PFPT	New	Proofpoint, Inc.cs	$511,000	–	4,600	–	0.37%	–
PWR	New	Quanta Servicescs	$502,000	–	12,800	–	0.36%	–
QRVO	New	Qorvo Inccs	$497,000	–	4,500	–	0.36%	–
VRSK	New	Verisk Analyticscs	$477,000	–	2,800	–	0.34%	–
MA	New	Mastercard Inccs	$466,000	–	1,575	–	0.33%	–
SONY	New	Sony Corpcs	$465,000	–	6,720	–	0.33%	–
GSK	New	GlaxoSmithKlinecs	$461,000	–	11,300	–	0.33%	–
FDX	New	FedExcs	$459,000	–	3,275	–	0.33%	–
FLIR	New	FLIR Systems Inc.cs	$449,000	–	11,058	–	0.32%	–
KR	New	Krogercs	$442,000	–	13,050	–	0.32%	–
ADBE	New	Adobe Systemscs	$435,000	–	1,000	–	0.31%	–
WFC	New	Wells Fargocs	$427,000	–	16,690	–	0.31%	–
GILD	New	Gilead Sciencescs	$416,000	–	5,410	–	0.30%	–
AVGO	New	Broadcomcs	$395,000	–	1,250	–	0.28%	–
CFG	New	Citizens Financial Groupcs	$396,000	–	15,670	–	0.28%	–
EMR	New	Emerson Electriccs	$388,000	–	6,258	–	0.28%	–
HEI	New	Heico Corpcs	$384,000	–	3,850	–	0.28%	–
NFLX	New	Netflixcs	$382,000	–	840	–	0.27%	–
ORCL	New	Oraclecs	$377,000	–	6,825	–	0.27%	–
JPM	New	J.P. Morgan Chasecs	$378,000	–	4,023	–	0.27%	–
MET	New	MetLifecs	$378,000	–	10,350	–	0.27%	–
BIIB	New	Biogen Ideccs	$368,000	–	1,375	–	0.26%	–
OSK	New	Oshkosh Corpcs	$362,000	–	5,050	–	0.26%	–
EBS	New	Emergent Biosolutionscs	$356,000	–	4,500	–	0.26%	–
AMWD	New	American Woodmark Corporationcs	$348,000	–	4,595	–	0.25%	–
IDXX	New	Idexx Laboratoriescs	$347,000	–	1,050	–	0.25%	–
DHI	New	DR Hortoncs	$345,000	–	6,225	–	0.25%	–
PYPL	New	PayPalcs	$335,000	–	1,925	–	0.24%	–
WY	New	Weyerhaeusercs	$332,000	–	14,775	–	0.24%	–
TEX	New	Terexcs	$320,000	–	17,050	–	0.23%	–
SAIC	New	Science Applications Internatics	$315,000	–	4,050	–	0.22%	–
AZN	New	Astrazenecacs	$312,000	–	5,907	–	0.22%	–
ICE	New	Intercontinental Exchangecs	$309,000	–	3,375	–	0.22%	–
WMT	New	Walmart Inc.cs	$305,000	–	2,547	–	0.22%	–
SCHW	New	Charles Schwabcs	$299,000	–	8,850	–	0.21%	–
LNG	New	Cheniere Energy, Inc.cs	$286,000	–	5,925	–	0.20%	–
TWTR	New	Twittercs	$267,000	–	8,950	–	0.19%	–
MHK	New	Mohawk Industriescs	$267,000	–	2,625	–	0.19%	–
IRDM	New	Iridium Communicationscs	$267,000	–	10,502	–	0.19%	–
CP	New	Canadian Pacificcs	$263,000	–	1,030	–	0.19%	–
R	New	Ryder System, Inc.cs	$261,000	–	6,950	–	0.19%	–
EW	New	Edwards Lifesciencescs	$261,000	–	3,780	–	0.19%	–
CMCSA	New	Comcast Corp Cl Acs	$259,000	–	6,646	–	0.18%	–
SHW	New	Sherwin-Williamscs	$246,000	–	425	–	0.18%	–
WLK	New	Westlake Chemicalcs	$233,000	–	4,350	–	0.17%	–
BXMT	New	Blackstone Mortgage Trustcs	$229,000	–	9,500	–	0.16%	–
PPG	New	PPG Industriescs	$222,000	–	2,090	–	0.16%	–
JHG	New	Janus Henderson Groupcs	$221,000	–	10,450	–	0.16%	–
GE	New	General Electriccs	$181,000	–	26,440	–	0.13%	–
UNVR	New	Univar Solutions Inc.cs	$181,000	–	10,750	–	0.13%	–
VIAV	New	Viavi Solutionscs	$182,000	–	14,250	–	0.13%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
	Exit	Huadian Power International Ccs	$0	–	-40,000	–	-0.01%	–
	Exit	Kingmaker Footwear Holdingscs	$0	–	-120,000	–	-0.01%	–
TELL	Exit	Telluriancs	$0	–	-11,000	–	-0.07%	–
	Exit	Westshore Terminals Investmencs	$0	–	-10,120	–	-0.11%	–
VIAV	Exit	Viavi Solutionscs	$0	–	-11,250	–	-0.11%	–
COG	Exit	Cabot Oil & Gascs	$0	–	-10,700	–	-0.14%	–
CTXS	Exit	Citrix Systemscs	$0	–	-2,075	–	-0.14%	–
XYL	Exit	Xylem Inccs	$0	–	-2,600	–	-0.15%	–
SIVB	Exit	SVB Financial Groupcs	$0	–	-1,025	–	-0.16%	–
ALL	Exit	Allstatecs	$0	–	-2,000	–	-0.16%	–
FCX	Exit	Freeport McMorancs	$0	–	-22,650	–	-0.16%	–
INTU	Exit	Intuit Inc.cs	$0	–	-850	–	-0.16%	–
CDNS	Exit	Cadence Design Systems, Inc.cs	$0	–	-3,475	–	-0.17%	–
SHW	Exit	Sherwin-Williamscs	$0	–	-450	–	-0.18%	–
ORCL	Exit	Oraclecs	$0	–	-4,500	–	-0.18%	–
H	Exit	Hyatt Hotels Corpcs	$0	–	-3,375	–	-0.18%	–
MAS	Exit	Masco Corpcs	$0	–	-5,950	–	-0.18%	–
HSBCPRA	Exit	HSBC Holdings Pfd Acs	$0	–	-9,700	–	-0.18%	–
SPLK	Exit	Splunkcs	$0	–	-2,200	–	-0.19%	–
AAL	Exit	American Airlines Group Inc.cs	$0	–	-9,612	–	-0.19%	–
AZN	Exit	Astrazenecacs	$0	–	-5,907	–	-0.19%	–
MSCI	Exit	MSCI Inc.cs	$0	–	-1,225	–	-0.19%	–
GE	Exit	General Electriccs	$0	–	-30,388	–	-0.20%	–
KNX	Exit	Knight Swift Transportationcs	$0	–	-7,500	–	-0.20%	–
RTN	Exit	Raytheoncs	$0	–	-1,400	–	-0.20%	–
VEEV	Exit	Veeva Systems Inccs	$0	–	-1,800	–	-0.20%	–
MRVL	Exit	Marvell Technologiescs	$0	–	-11,200	–	-0.20%	–
TMUS	Exit	T-Mobile US, Inc.cs	$0	–	-3,575	–	-0.20%	–
SLB	Exit	Schlumbergercs	$0	–	-8,774	–	-0.22%	–
CMCSA	Exit	Comcast Corp Cl Acs	$0	–	-6,646	–	-0.22%	–
PEN	Exit	Penumbra, Inc.cs	$0	–	-2,275	–	-0.22%	–
PNC	Exit	PNC Financialcs	$0	–	-2,200	–	-0.22%	–
	Exit	Restaurant Brands NZ Ltdcs	$0	–	-45,000	–	-0.23%	–
JPM	Exit	J.P. Morgan Chasecs	$0	–	-2,758	–	-0.24%	–
WMT	Exit	Walmart Inc.cs	$0	–	-2,762	–	-0.24%	–
ALLY	Exit	Ally Financialcs	$0	–	-9,950	–	-0.24%	–
MHK	Exit	Mohawk Industriescs	$0	–	-2,775	–	-0.25%	–
CBS	Exit	CBScs	$0	–	-9,000	–	-0.26%	–
STT	Exit	State Streetcs	$0	–	-6,130	–	-0.26%	–
HEI	Exit	Heico Corpcs	$0	–	-2,925	–	-0.26%	–
TOL	Exit	Toll Brotherscs	$0	–	-9,450	–	-0.28%	–
WM	Exit	Waste Management Inc.cs	$0	–	-3,450	–	-0.29%	–
KWR	Exit	Quaker Chemicalcs	$0	–	-2,563	–	-0.29%	–
HLT	Exit	Hilton Hotelscs	$0	–	-4,350	–	-0.29%	–
FBHS	Exit	Fortune Brands & Home Securitycs	$0	–	-7,700	–	-0.30%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-4,849	–	-0.31%	–
CHGG	Exit	Chegg, Inc.cs	$0	–	-14,800	–	-0.32%	–
WY	Exit	Weyerhaeusercs	$0	–	-16,050	–	-0.32%	–
ARE	Exit	Alexandria Real Estatecs	$0	–	-2,942	–	-0.33%	–
PPG	Exit	PPG Industriescs	$0	–	-3,865	–	-0.33%	–
VRTX	Exit	Vertex Pharmaceuticalscs	$0	–	-2,725	–	-0.34%	–
TEX	Exit	Terexcs	$0	–	-17,900	–	-0.34%	–
R	Exit	Ryder System, Inc.cs	$0	–	-9,000	–	-0.34%	–
ATVI	Exit	Activision Blizzardcs	$0	–	-8,875	–	-0.34%	–
T	Exit	A T & Tcs	$0	–	-12,395	–	-0.34%	–
BEAT	Exit	Bio Telemetry, Inc.cs	$0	–	-11,675	–	-0.34%	–
TMO	Exit	Thermo Fisher Scientific Inc.cs	$0	–	-1,650	–	-0.35%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-11,300	–	-0.35%	–
MS	Exit	Morgan Stanleycs	$0	–	-11,375	–	-0.35%	–
APD	Exit	Air Prod.& Chem.cs	$0	–	-2,200	–	-0.35%	–
V	Exit	Visacs	$0	–	-2,862	–	-0.36%	–
FDX	Exit	FedExcs	$0	–	-3,370	–	-0.36%	–
KSU	Exit	Kansas City So.cs	$0	–	-3,707	–	-0.36%	–
AMZN	Exit	Amazon, Inc.cs	$0	–	-289	–	-0.36%	–
AMN	Exit	AMN Healthcare Servicescs	$0	–	-8,955	–	-0.37%	–
LNG	Exit	Cheniere Energy, Inc.cs	$0	–	-8,400	–	-0.38%	–
EMR	Exit	Emerson Electriccs	$0	–	-8,183	–	-0.40%	–
EA	Exit	Electronic Artscs	$0	–	-5,825	–	-0.41%	–
AMD	Exit	Advanced Micro Devicescs	$0	–	-19,800	–	-0.42%	–
WFC	Exit	Wells Fargocs	$0	–	-11,550	–	-0.42%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-16,445	–	-0.42%	–
GILD	Exit	Gilead Sciencescs	$0	–	-9,380	–	-0.43%	–
JNPR	Exit	Junipercs	$0	–	-24,150	–	-0.43%	–
SBUX	Exit	Starbuckscs	$0	–	-6,850	–	-0.44%	–
COR	Exit	CoreSite Realty Corporationcs	$0	–	-5,021	–	-0.44%	–
BLL	Exit	Ballcs	$0	–	-8,497	–	-0.45%	–
DRI	Exit	Darden Restaurantscs	$0	–	-5,323	–	-0.46%	–
MPC	Exit	Marathon Petroleumcs	$0	–	-10,475	–	-0.46%	–
PH	Exit	Parker Hannifincs	$0	–	-3,535	–	-0.46%	–
UNP	Exit	Union Pacificcs	$0	–	-3,949	–	-0.46%	–
TRN	Exit	Trinity Industriescs	$0	–	-32,500	–	-0.46%	–
CRM	Exit	Salesforce.comcs	$0	–	-4,370	–	-0.47%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-8,988	–	-0.48%	–
ADI	Exit	Analog Devicescs	$0	–	-6,100	–	-0.49%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-19,107	–	-0.50%	–
PRAH	Exit	PRA Health Sciences, Inc.cs	$0	–	-7,121	–	-0.51%	–
CME	Exit	CME Groupcs	$0	–	-3,380	–	-0.52%	–
UNH	Exit	United Healthcarecs	$0	–	-3,300	–	-0.52%	–
MCD	Exit	McDonald'scs	$0	–	-3,367	–	-0.52%	–
GIS	Exit	General Millscs	$0	–	-13,525	–	-0.54%	–
CIEN	Exit	Ciena Corporationcs	$0	–	-19,530	–	-0.56%	–
VIRT	Exit	Virtu Financial, Inc.cs	$0	–	-47,718	–	-0.57%	–
MDT	Exit	Medtronic PLCcs	$0	–	-7,250	–	-0.57%	–
STI	Exit	SunTrust Bankscs	$0	–	-11,490	–	-0.57%	–
FOX	Exit	Fox Corpcs	$0	–	-25,100	–	-0.57%	–
PEP	Exit	Pepsicocs	$0	–	-5,938	–	-0.59%	–
CAG	Exit	ConAgra Foodscs	$0	–	-26,750	–	-0.60%	–
EL	Exit	Estee Laudercs	$0	–	-4,170	–	-0.60%	–
ELAN	Exit	Elanco Animal Healthcs	$0	–	-31,600	–	-0.61%	–
BBT	Exit	BB&Tcs	$0	–	-15,875	–	-0.61%	–
OSK	Exit	Oshkosh Corpcs	$0	–	-11,200	–	-0.62%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-716	–	-0.63%	–
CRL	Exit	Charles River Laboratoriescs	$0	–	-6,725	–	-0.64%	–
MET	Exit	MetLifecs	$0	–	-18,950	–	-0.65%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-11,830	–	-0.65%	–
FL	Exit	Foot Locker, Inc.cs	$0	–	-20,975	–	-0.66%	–
LHX	Exit	L3Harris Technologiescs	$0	–	-4,375	–	-0.66%	–
SYY	Exit	Sysco Corpcs	$0	–	-11,604	–	-0.67%	–
FB	Exit	Facebook Inccs	$0	–	-5,250	–	-0.68%	–
TSN	Exit	Tyson Foodscs	$0	–	-11,000	–	-0.69%	–
MMM	Exit	3M Corp.cs	$0	–	-5,895	–	-0.70%	–
FITB	Exit	Fifth Third Bankcs	$0	–	-36,600	–	-0.73%	–
UAL	Exit	United Airlines Holdings, Inc.cs	$0	–	-11,390	–	-0.73%	–
K	Exit	Kelloggcs	$0	–	-15,793	–	-0.74%	–
LEN	Exit	Lennarcs	$0	–	-18,925	–	-0.77%	–
HD	Exit	Home Depotcs	$0	–	-4,599	–	-0.77%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-15,250	–	-0.78%	–
UTX	Exit	United Technologiescs	$0	–	-8,065	–	-0.80%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-8,939	–	-0.81%	–
CCL	Exit	Carnival Corp.-Cl Acs	$0	–	-25,618	–	-0.81%	–
BXMT	Exit	Blackstone Mortgage Trustcs	$0	–	-31,450	–	-0.82%	–
IFF	Exit	Int'l Flvrs & Frag.cs	$0	–	-9,225	–	-0.82%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-958	–	-0.85%	–
INDB	Exit	Independent Bankcs	$0	–	-16,033	–	-0.87%	–
DLR	Exit	Digital Realty Trustcs	$0	–	-9,768	–	-0.92%	–
BA	Exit	Boeingcs	$0	–	-3,335	–	-0.92%	–
CLX	Exit	Clorox Companycs	$0	–	-8,475	–	-0.93%	–
PKG	Exit	Packaging Corp of Americacs	$0	–	-12,200	–	-0.94%	–
DAL	Exit	Delta Airlinescs	$0	–	-22,740	–	-0.95%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-18,587	–	-0.96%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-7,887	–	-0.97%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-9,440	–	-0.99%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-14,935	–	-1.02%	–
LLY	Exit	Eli Lillycs	$0	–	-12,850	–	-1.04%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-6,911	–	-1.04%	–
VZ	Exit	Verizon Comm.cs	$0	–	-24,370	–	-1.06%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-32,687	–	-1.20%	–
PG	Exit	Procter & Gamblecs	$0	–	-13,526	–	-1.22%	–
CSX	Exit	CSX Corpcs	$0	–	-24,275	–	-1.22%	–
UPS	Exit	UPScs	$0	–	-14,350	–	-1.24%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-28,000	–	-1.28%	–
XOM	Exit	Exxon Mobilcs	$0	–	-25,261	–	-1.29%	–
MRK	Exit	Merckcs	$0	–	-23,295	–	-1.42%	–
PFE	Exit	Pfizercs	$0	–	-55,284	–	-1.44%	–
MSFT	Exit	Microsoftcs	$0	–	-14,734	–	-1.48%	–
ABT	Exit	Abbott Labscs	$0	–	-25,178	–	-1.53%	–
ZTS	Exit	Zoetis Inccs	$0	–	-17,573	–	-1.59%	–
KO	Exit	Coca-Colacs	$0	–	-41,325	–	-1.63%	–
AAPL	Exit	Apple Computercs	$0	–	-11,059	–	-1.79%	–
DIS	Exit	Walt Disneycs	$0	–	-21,430	–	-2.02%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-20,788	–	-2.14%	–
INTC	Exit	Intelcs	$0	–	-61,662	–	-2.30%	–
WASH	Exit	Washington Trustcs	$0	–	-71,198	–	-2.49%	–
CSCO	Exit	Cisco Systemscs	$0	–	-86,150	–	-3.08%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-34,727	–	-3.25%	–
CHD	Exit	Church and Dwightcs	$0	–	-76,775	–	-4.18%	–

Q3 2019

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$5,777,000	+1.7%	76,775	-1.3%	4.18%	+8.6%
JNJ	Buy	Johnson & Johnsoncs	$4,493,000	-1.7%	34,727	+5.8%	3.25%	+4.9%
CSCO	Buy	Cisco Systemscs	$4,257,000	-6.7%	86,150	+3.3%	3.08%	-0.5%
WASH	Sell	Washington Trustcs	$3,440,000	-8.7%	71,198	-1.3%	2.49%	-2.5%
INTC	Buy	Intelcs	$3,177,000	+8.9%	61,662	+1.2%	2.30%	+16.3%
DIS	Sell	Walt Disneycs	$2,793,000	-9.0%	21,430	-2.5%	2.02%	-2.8%
AAPL	Sell	Apple Computercs	$2,477,000	+10.8%	11,059	-2.1%	1.79%	+18.3%
ZTS	Sell	Zoetis Inccs	$2,189,000	+6.7%	17,573	-2.8%	1.59%	+13.9%
ABT	Sell	Abbott Labscs	$2,107,000	-1.3%	25,178	-0.8%	1.53%	+5.4%
MSFT	Sell	Microsoftcs	$2,048,000	+2.3%	14,734	-1.3%	1.48%	+9.2%
PFE	Buy	Pfizercs	$1,986,000	-6.2%	55,284	+13.1%	1.44%	+0.1%
MRK	Sell	Merckcs	$1,961,000	-1.5%	23,295	-1.9%	1.42%	+5.1%
XOM	Sell	Exxon Mobilcs	$1,784,000	-8.6%	25,261	-0.8%	1.29%	-2.4%
CVS	Sell	C.V.S. Caremarkcs	$1,766,000	-7.2%	28,000	-19.9%	1.28%	-1.0%
UPS	Sell	UPScs	$1,719,000	+5.5%	14,350	-9.0%	1.24%	+12.7%
PG	Sell	Procter & Gamblecs	$1,682,000	+13.0%	13,526	-0.4%	1.22%	+20.6%
BMY	Sell	Bristol Myers Squibbcs	$1,658,000	+10.7%	32,687	-1.1%	1.20%	+18.2%
VZ	Buy	Verizon Comm.cs	$1,471,000	+33.6%	24,370	+26.5%	1.06%	+42.6%
BRKB	Sell	Berkshire Hathaway Bcs	$1,438,000	-3.4%	6,911	-1.1%	1.04%	+3.2%
LLY	Buy	Eli Lillycs	$1,437,000	+41.0%	12,850	+39.7%	1.04%	+50.7%
NKE	Sell	Nike Inc Class Bcs	$1,403,000	+11.2%	14,935	-0.7%	1.02%	+18.7%
IBM	Sell	Int'l Bus. Mach.cs	$1,373,000	+4.9%	9,440	-0.5%	0.99%	+11.9%
HON	Buy	Honeywell Int'l.cs	$1,334,000	+43.1%	7,887	+47.8%	0.97%	+52.8%
QSR	Buy	Restaurant Brands Int'lcs	$1,322,000	+4.8%	18,587	+2.5%	0.96%	+11.9%
DAL	Sell	Delta Airlinescs	$1,310,000	-10.1%	22,740	-11.4%	0.95%	-4.0%
PKG	Sell	Packaging Corp of Americacs	$1,294,000	-7.3%	12,200	-16.7%	0.94%	-1.1%
CLX	Sell	Clorox Companycs	$1,287,000	-4.2%	8,475	-3.4%	0.93%	+2.2%
BA	Sell	Boeingcs	$1,269,000	-7.2%	3,335	-11.2%	0.92%	-1.0%
DLR	Buy	Digital Realty Trustcs	$1,268,000	+72.3%	9,768	+56.3%	0.92%	+84.0%
INDB	Sell	Independent Bankcs	$1,197,000	-2.6%	16,033	-0.7%	0.87%	+4.0%
GOOGL	Sell	Alphabet Inc Class Acs	$1,170,000	+5.6%	958	-6.4%	0.85%	+12.6%
IFF	Buy	Int'l Flvrs & Frag.cs	$1,132,000	+29.5%	9,225	+53.1%	0.82%	+38.3%
BXMT	Buy	Blackstone Mortgage Trustcs	$1,127,000	+36.3%	31,450	+35.3%	0.82%	+45.5%
CCL	Sell	Carnival Corp.-Cl Acs	$1,120,000	-38.7%	25,618	-34.7%	0.81%	-34.6%
URI	Sell	United Rentals, Inc.cs	$1,114,000	-8.3%	8,939	-2.5%	0.81%	-2.1%
UTX	Sell	United Technologiescs	$1,101,000	-12.3%	8,065	-16.4%	0.80%	-6.5%
PB	Sell	Prosperity Bancshares, Inc.cs	$1,077,000	+3.6%	15,250	-3.2%	0.78%	+10.5%
LEN	Sell	Lennarcs	$1,057,000	+9.9%	18,925	-4.7%	0.77%	+17.3%
K	Sell	Kelloggcs	$1,016,000	+17.9%	15,793	-1.9%	0.74%	+25.8%
UAL	Sell	United Airlines Holdings, Inc.cs	$1,007,000	-47.1%	11,390	-47.6%	0.73%	-43.6%
FITB	Sell	Fifth Third Bankcs	$1,002,000	-10.7%	36,600	-9.0%	0.73%	-4.6%
MMM	Sell	3M Corp.cs	$969,000	-9.0%	5,895	-4.1%	0.70%	-2.9%
TSN	New	Tyson Foodscs	$948,000	–	11,000	–	0.69%	–
FB	Buy	Facebook Inccs	$935,000	+11.3%	5,250	+20.7%	0.68%	+18.8%
SYY	Buy	Sysco Corpcs	$921,000	+27.0%	11,604	+13.2%	0.67%	+35.6%
LHX	New	L3Harris Technologiescs	$913,000	–	4,375	–	0.66%	–
FL	Sell	Foot Locker, Inc.cs	$905,000	+0.3%	20,975	-2.6%	0.66%	+7.0%
ABBV	Buy	AbbVie Inc.cs	$896,000	+74.0%	11,830	+67.1%	0.65%	+86.0%
MET	New	MetLifecs	$894,000	–	18,950	–	0.65%	–
CRL	Sell	Charles River Laboratoriescs	$890,000	-10.1%	6,725	-3.6%	0.64%	-4.0%
OSK	Buy	Oshkosh Corpcs	$849,000	+86.6%	11,200	+105.5%	0.62%	+99.0%
BBT	Sell	BB&Tcs	$847,000	+5.6%	15,875	-2.8%	0.61%	+12.7%
ELAN	Buy	Elanco Animal Healthcs	$840,000	+161.7%	31,600	+232.6%	0.61%	+178.9%
EL	Sell	Estee Laudercs	$830,000	-60.8%	4,170	-63.9%	0.60%	-58.1%
CAG	New	ConAgra Foodscs	$821,000	–	26,750	–	0.60%	–
PEP	Buy	Pepsicocs	$814,000	+8.2%	5,938	+3.5%	0.59%	+15.7%
FOX	New	Fox Corpcs	$792,000	–	25,100	–	0.57%	–
STI	Sell	SunTrust Bankscs	$791,000	-11.6%	11,490	-19.3%	0.57%	-5.6%
MDT	Sell	Medtronic PLCcs	$787,000	+3.6%	7,250	-7.1%	0.57%	+10.5%
VIRT	Sell	Virtu Financial, Inc.cs	$781,000	-35.7%	47,718	-14.4%	0.57%	-31.3%
CIEN	Buy	Ciena Corporationcs	$766,000	+152.8%	19,530	+164.8%	0.56%	+169.4%
UNH	Sell	United Healthcarecs	$717,000	-23.2%	3,300	-13.7%	0.52%	-18.0%
CME	Buy	CME Groupcs	$714,000	+198.7%	3,380	+174.8%	0.52%	+219.1%
PRAH	Sell	PRA Health Sciences, Inc.cs	$707,000	-11.6%	7,121	-11.8%	0.51%	-5.7%
ADI	Sell	Analog Devicescs	$682,000	-49.7%	6,100	-49.3%	0.49%	-46.4%
CL	Sell	Colgate-Palmolivecs	$661,000	+1.5%	8,988	-1.1%	0.48%	+8.4%
CRM	Sell	Salesforce.comcs	$649,000	-3.3%	4,370	-1.1%	0.47%	+3.3%
TRN	Sell	Trinity Industriescs	$640,000	-8.2%	32,500	-3.3%	0.46%	-1.9%
UNP	Sell	Union Pacificcs	$640,000	-26.8%	3,949	-23.6%	0.46%	-21.8%
PH	Sell	Parker Hannifincs	$638,000	-0.2%	3,535	-6.0%	0.46%	+6.5%
MPC	Sell	Marathon Petroleumcs	$636,000	-37.6%	10,475	-42.6%	0.46%	-33.4%
DRI	Buy	Darden Restaurantscs	$629,000	+50.8%	5,323	+55.5%	0.46%	+61.1%
BLL	New	Ballcs	$619,000	–	8,497	–	0.45%	–
COR	New	CoreSite Realty Corporationcs	$612,000	–	5,021	–	0.44%	–
SBUX	Buy	Starbuckscs	$606,000	+28.4%	6,850	+21.8%	0.44%	+37.2%
JNPR	Sell	Junipercs	$598,000	-21.5%	24,150	-15.6%	0.43%	-16.2%
GILD	Sell	Gilead Sciencescs	$595,000	-6.6%	9,380	-0.5%	0.43%	-0.2%
CFG	Sell	Citizens Financial Groupcs	$582,000	-4.9%	16,445	-4.9%	0.42%	+1.7%
WFC	Sell	Wells Fargocs	$583,000	+0.5%	11,550	-5.7%	0.42%	+7.1%
AMD	New	Advanced Micro Devicescs	$574,000	–	19,800	–	0.42%	–
EA	Sell	Electronic Artscs	$570,000	-33.2%	5,825	-30.9%	0.41%	-28.7%
EMR	Sell	Emerson Electriccs	$547,000	-2.5%	8,183	-2.7%	0.40%	+3.9%
LNG	Sell	Cheniere Energy, Inc.cs	$530,000	-16.3%	8,400	-9.2%	0.38%	-10.7%
AMN	Sell	AMN Healthcare Servicescs	$515,000	-52.4%	8,955	-55.1%	0.37%	-49.2%
AMZN	New	Amazon, Inc.cs	$502,000	–	289	–	0.36%	–
KSU	Sell	Kansas City So.cs	$493,000	-36.3%	3,707	-41.7%	0.36%	-32.0%
FDX	Sell	FedExcs	$491,000	-38.6%	3,370	-30.8%	0.36%	-34.4%
APD	New	Air Prod.& Chem.cs	$488,000	–	2,200	–	0.35%	–
MS	Buy	Morgan Stanleycs	$485,000	+6.6%	11,375	+9.6%	0.35%	+13.6%
GSK	Sell	GlaxoSmithKlinecs	$482,000	+3.0%	11,300	-3.4%	0.35%	+9.7%
TMO	New	Thermo Fisher Scientific Inc.cs	$481,000	–	1,650	–	0.35%	–
BEAT	Buy	Bio Telemetry, Inc.cs	$476,000	-13.3%	11,675	+2.4%	0.34%	-7.5%
ATVI	New	Activision Blizzardcs	$470,000	–	8,875	–	0.34%	–
T	Sell	A T & Tcs	$469,000	-62.8%	12,395	-67.0%	0.34%	-60.2%
R	Sell	Ryder System, Inc.cs	$466,000	-16.3%	9,000	-5.8%	0.34%	-10.6%
TEX	Sell	Terexcs	$465,000	-30.6%	17,900	-16.2%	0.34%	-25.9%
VRTX	Buy	Vertex Pharmaceuticalscs	$462,000	+7.2%	2,725	+16.0%	0.34%	+14.7%
ARE	Sell	Alexandria Real Estatecs	$453,000	+1.8%	2,942	-6.7%	0.33%	+8.6%
WY	Sell	Weyerhaeusercs	$445,000	+4.2%	16,050	-1.1%	0.32%	+11.0%
CHGG	New	Chegg, Inc.cs	$443,000	–	14,800	–	0.32%	–
CNBKA	Sell	Century Bancorpcs	$425,000	-12.9%	4,849	-12.6%	0.31%	-6.9%
FBHS	Sell	Fortune Brands & Home Securitycs	$421,000	-8.5%	7,700	-4.3%	0.30%	-2.2%
KWR	New	Quaker Chemicalcs	$405,000	–	2,563	–	0.29%	–
HEI	New	Heico Corpcs	$365,000	–	2,925	–	0.26%	–
CBS	Sell	CBScs	$363,000	-23.4%	9,000	-5.3%	0.26%	-18.3%
STT	Sell	State Streetcs	$363,000	-40.3%	6,130	-43.5%	0.26%	-36.3%
MHK	Sell	Mohawk Industriescs	$344,000	-29.8%	2,775	-16.5%	0.25%	-25.0%
ALLY	New	Ally Financialcs	$330,000	–	9,950	–	0.24%	–
JPM	Sell	J.P. Morgan Chasecs	$325,000	-61.0%	2,758	-63.0%	0.24%	-58.5%
PNC	New	PNC Financialcs	$308,000	–	2,200	–	0.22%	–
PEN	New	Penumbra, Inc.cs	$306,000	–	2,275	–	0.22%	–
SLB	Sell	Schlumbergercs	$300,000	-15.0%	8,774	-1.1%	0.22%	-9.6%
TMUS	Sell	T-Mobile US, Inc.cs	$282,000	-48.9%	3,575	-52.0%	0.20%	-45.6%
MRVL	New	Marvell Technologiescs	$280,000	–	11,200	–	0.20%	–
VEEV	New	Veeva Systems Inccs	$275,000	–	1,800	–	0.20%	–
RTN	Sell	Raytheoncs	$275,000	-9.5%	1,400	-20.0%	0.20%	-3.4%
KNX	New	Knight Swift Transportationcs	$272,000	–	7,500	–	0.20%	–
GE	Sell	General Electriccs	$272,000	-30.3%	30,388	-18.3%	0.20%	-25.7%
MSCI	New	MSCI Inc.cs	$267,000	–	1,225	–	0.19%	–
SPLK	New	Splunkcs	$259,000	–	2,200	–	0.19%	–
AAL	Sell	American Airlines Group Inc.cs	$259,000	-30.0%	9,612	-15.2%	0.19%	-25.1%
ORCL	New	Oraclecs	$248,000	–	4,500	–	0.18%	–
H	New	Hyatt Hotels Corpcs	$249,000	–	3,375	–	0.18%	–
MAS	New	Masco Corpcs	$248,000	–	5,950	–	0.18%	–
CDNS	New	Cadence Design Systems, Inc.cs	$230,000	–	3,475	–	0.17%	–
INTU	Sell	Intuit Inc.cs	$226,000	-3.8%	850	-5.6%	0.16%	+3.1%
FCX	Sell	Freeport McMorancs	$217,000	-32.0%	22,650	-17.6%	0.16%	-27.3%
CTXS	New	Citrix Systemscs	$200,000	–	2,075	–	0.14%	–
COG	Sell	Cabot Oil & Gascs	$188,000	-24.8%	10,700	-1.8%	0.14%	-20.0%
VIAV	New	Viavi Solutionscs	$158,000	–	11,250	–	0.11%	–
ZUO	Exit	Zuoracs	$0	–	-12,894	–	-0.13%	–
CP	Exit	Canadian Pacificcs	$0	–	-855	–	-0.14%	–
MAR	Exit	Marriottcs	$0	–	-1,450	–	-0.14%	–
ALB	Exit	Albemarle Corp.cs	$0	–	-3,200	–	-0.15%	–
AVGO	Exit	Broadcomcs	$0	–	-800	–	-0.16%	–
ALK	Exit	Alaska Aircs	$0	–	-3,850	–	-0.17%	–
NVDA	Exit	Nvidiacs	$0	–	-1,610	–	-0.18%	–
BMRN	Exit	Biomarin Pharmaceuticalcs	$0	–	-3,150	–	-0.18%	–
HQY	Exit	Healthequitycs	$0	–	-4,240	–	-0.19%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-1,400	–	-0.20%	–
KIM	Exit	Kimco Realty Corp.cs	$0	–	-16,500	–	-0.21%	–
EW	Exit	Edwards Lifesciencescs	$0	–	-1,750	–	-0.22%	–
NOC	Exit	Northrop Grummancs	$0	–	-1,100	–	-0.24%	–
SWKS	Exit	Skyworks Solutions Inccs	$0	–	-4,725	–	-0.25%	–
TTWO	Exit	Take Two Interactive Softwarecs	$0	–	-3,275	–	-0.25%	–
BRKS	Exit	Brooks Automationcs	$0	–	-9,700	–	-0.26%	–
HRS	Exit	Harriscs	$0	–	-2,000	–	-0.26%	–
NKTR	Exit	Nektar Therapeuticscs	$0	–	-11,105	–	-0.27%	–
SONY	Exit	Sony Corpcs	$0	–	-7,602	–	-0.27%	–
PXD	Exit	Pioneer Natural Resourcescs	$0	–	-2,650	–	-0.28%	–
EBAY	Exit	eBaycs	$0	–	-10,500	–	-0.28%	–
HEES	Exit	H&E Equipment Servicescs	$0	–	-15,301	–	-0.30%	–
AKAM	Exit	Akamai Technologiescs	$0	–	-5,850	–	-0.32%	–
BAX	Exit	Baxter Internationalcs	$0	–	-6,350	–	-0.35%	–
KEY	Exit	KeyCorpcs	$0	–	-31,395	–	-0.38%	–
STZ	Exit	Constellation Brandscs	$0	–	-3,275	–	-0.44%	–
SQ	Exit	Squarecs	$0	–	-9,200	–	-0.45%	–
HCA	Exit	HCA Holdingscs	$0	–	-5,000	–	-0.46%	–
ST	Exit	Sensata Technologiescs	$0	–	-15,325	–	-0.51%	–
FTNT	Exit	Fortinetcs	$0	–	-9,900	–	-0.52%	–
FN	Exit	Fabrinetcs	$0	–	-16,008	–	-0.54%	–
BDX	Exit	Becton Dickinsoncs	$0	–	-3,265	–	-0.56%	–
MDC	Exit	M.D.C. Holdings, Inc.cs	$0	–	-33,408	–	-0.74%	–
AAWW	Exit	Atlas Air Worldwidecs	$0	–	-24,925	–	-0.76%	–
AMGN	Exit	Amgencs	$0	–	-9,762	–	-1.22%	–

Q2 2019

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,680,000	–	77,750	–	3.85%	–
JNJ	New	Johnson & Johnsoncs	$4,572,000	–	32,827	–	3.10%	–
CSCO	New	Cisco Systemscs	$4,564,000	–	83,400	–	3.10%	–
WASH	New	Washington Trustcs	$3,766,000	–	72,172	–	2.56%	–
DIS	New	Walt Disneycs	$3,069,000	–	21,980	–	2.08%	–
INTC	New	Intelcs	$2,917,000	–	60,937	–	1.98%	–
KMB	New	Kimberly Clarkcs	$2,771,000	–	20,788	–	1.88%	–
AAPL	New	Apple Computercs	$2,235,000	–	11,294	–	1.52%	–
ABT	New	Abbott Labscs	$2,134,000	–	25,378	–	1.45%	–
PFE	New	Pfizercs	$2,118,000	–	48,884	–	1.44%	–
EL	New	Estee Laudercs	$2,115,000	–	11,550	–	1.44%	–
KO	New	Coca-Colacs	$2,104,000	–	41,325	–	1.43%	–
ZTS	New	Zoetis Inccs	$2,051,000	–	18,073	–	1.39%	–
MSFT	New	Microsoftcs	$2,001,000	–	14,934	–	1.36%	–
MRK	New	Merckcs	$1,991,000	–	23,745	–	1.35%	–
XOM	New	Exxon Mobilcs	$1,951,000	–	25,461	–	1.32%	–
CVS	New	C.V.S. Caremarkcs	$1,904,000	–	34,950	–	1.29%	–
UAL	New	United Airlines Holdings, Inc.cs	$1,904,000	–	21,748	–	1.29%	–
CSX	New	CSX Corpcs	$1,878,000	–	24,275	–	1.27%	–
CCL	New	Carnival Corp.-Cl Acs	$1,827,000	–	39,253	–	1.24%	–
AMGN	New	Amgencs	$1,799,000	–	9,762	–	1.22%	–
UPS	New	UPScs	$1,629,000	–	15,776	–	1.10%	–
BMY	New	Bristol Myers Squibbcs	$1,498,000	–	33,037	–	1.02%	–
BRKB	New	Berkshire Hathaway Bcs	$1,489,000	–	6,986	–	1.01%	–
PG	New	Procter & Gamblecs	$1,489,000	–	13,576	–	1.01%	–
DAL	New	Delta Airlinescs	$1,457,000	–	25,675	–	0.99%	–
PKG	New	Packaging Corp of Americacs	$1,396,000	–	14,648	–	0.95%	–
BA	New	Boeingcs	$1,367,000	–	3,755	–	0.93%	–
ADI	New	Analog Devicescs	$1,357,000	–	12,025	–	0.92%	–
CLX	New	Clorox Companycs	$1,344,000	–	8,775	–	0.91%	–
IBM	New	Int'l Bus. Mach.cs	$1,309,000	–	9,490	–	0.89%	–
NKE	New	Nike Inc Class Bcs	$1,262,000	–	15,035	–	0.86%	–
QSR	New	Restaurant Brands Int'lcs	$1,261,000	–	18,137	–	0.86%	–
T	New	A T & Tcs	$1,260,000	–	37,605	–	0.86%	–
UTX	New	United Technologiescs	$1,256,000	–	9,650	–	0.85%	–
INDB	New	Independent Bankcs	$1,229,000	–	16,141	–	0.83%	–
VIRT	New	Virtu Financial, Inc.cs	$1,214,000	–	55,718	–	0.82%	–
URI	New	United Rentals, Inc.cs	$1,215,000	–	9,164	–	0.82%	–
FITB	New	Fifth Third Bankcs	$1,122,000	–	40,200	–	0.76%	–
AAWW	New	Atlas Air Worldwidecs	$1,113,000	–	24,925	–	0.76%	–
GOOGL	New	Alphabet Inc Class Acs	$1,108,000	–	1,023	–	0.75%	–
VZ	New	Verizon Comm.cs	$1,101,000	–	19,270	–	0.75%	–
MDC	New	M.D.C. Holdings, Inc.cs	$1,095,000	–	33,408	–	0.74%	–
AMN	New	AMN Healthcare Servicescs	$1,082,000	–	19,949	–	0.73%	–
MMM	New	3M Corp.cs	$1,065,000	–	6,145	–	0.72%	–
PB	New	Prosperity Bancshares, Inc.cs	$1,040,000	–	15,750	–	0.71%	–
MPC	New	Marathon Petroleumcs	$1,020,000	–	18,250	–	0.69%	–
LLY	New	Eli Lillycs	$1,019,000	–	9,200	–	0.69%	–
CRL	New	Charles River Laboratoriescs	$990,000	–	6,975	–	0.67%	–
LEN	New	Lennarcs	$962,000	–	19,850	–	0.65%	–
HD	New	Home Depotcs	$956,000	–	4,599	–	0.65%	–
UNH	New	United Healthcarecs	$933,000	–	3,825	–	0.63%	–
HON	New	Honeywell Int'l.cs	$932,000	–	5,337	–	0.63%	–
FL	New	Foot Locker, Inc.cs	$902,000	–	21,525	–	0.61%	–
STI	New	SunTrust Bankscs	$895,000	–	14,240	–	0.61%	–
UNP	New	Union Pacificcs	$874,000	–	5,167	–	0.59%	–
IFF	New	Int'l Flvrs & Frag.cs	$874,000	–	6,025	–	0.59%	–
K	New	Kelloggcs	$862,000	–	16,093	–	0.58%	–
EA	New	Electronic Artscs	$853,000	–	8,425	–	0.58%	–
FB	New	Facebook Inccs	$840,000	–	4,350	–	0.57%	–
JPM	New	J.P. Morgan Chasecs	$834,000	–	7,458	–	0.57%	–
BXMT	New	Blackstone Mortgage Trustcs	$827,000	–	23,250	–	0.56%	–
BDX	New	Becton Dickinsoncs	$823,000	–	3,265	–	0.56%	–
BBT	New	BB&Tcs	$802,000	–	16,325	–	0.54%	–
FDX	New	FedExcs	$800,000	–	4,870	–	0.54%	–
PRAH	New	PRA Health Sciences, Inc.cs	$800,000	–	8,071	–	0.54%	–
FN	New	Fabrinetcs	$795,000	–	16,008	–	0.54%	–
GOOG	New	Alphabet Inc Class Ccs	$774,000	–	716	–	0.52%	–
KSU	New	Kansas City So.cs	$774,000	–	6,354	–	0.52%	–
JNPR	New	Junipercs	$762,000	–	28,600	–	0.52%	–
FTNT	New	Fortinetcs	$761,000	–	9,900	–	0.52%	–
MDT	New	Medtronic PLCcs	$760,000	–	7,800	–	0.52%	–
PEP	New	Pepsicocs	$752,000	–	5,738	–	0.51%	–
ST	New	Sensata Technologiescs	$751,000	–	15,325	–	0.51%	–
DLR	New	Digital Realty Trustcs	$736,000	–	6,248	–	0.50%	–
SYY	New	Sysco Corpcs	$725,000	–	10,254	–	0.49%	–
GIS	New	General Millscs	$710,000	–	13,525	–	0.48%	–
MCD	New	McDonald'scs	$699,000	–	3,367	–	0.47%	–
TRN	New	Trinity Industriescs	$697,000	–	33,600	–	0.47%	–
HCA	New	HCA Holdingscs	$676,000	–	5,000	–	0.46%	–
CRM	New	Salesforce.comcs	$671,000	–	4,420	–	0.46%	–
TEX	New	Terexcs	$670,000	–	21,350	–	0.46%	–
RHHBY	New	Roche Holdings Ltdcs	$671,000	–	19,107	–	0.46%	–
SQ	New	Squarecs	$667,000	–	9,200	–	0.45%	–
CL	New	Colgate-Palmolivecs	$651,000	–	9,088	–	0.44%	–
STZ	New	Constellation Brandscs	$645,000	–	3,275	–	0.44%	–
PH	New	Parker Hannifincs	$639,000	–	3,760	–	0.43%	–
GILD	New	Gilead Sciencescs	$637,000	–	9,430	–	0.43%	–
LNG	New	Cheniere Energy, Inc.cs	$633,000	–	9,250	–	0.43%	–
CFG	New	Citizens Financial Groupcs	$612,000	–	17,295	–	0.42%	–
STT	New	State Streetcs	$608,000	–	10,840	–	0.41%	–
WFC	New	Wells Fargocs	$580,000	–	12,250	–	0.39%	–
EMR	New	Emerson Electriccs	$561,000	–	8,408	–	0.38%	–
R	New	Ryder System, Inc.cs	$557,000	–	9,550	–	0.38%	–
KEY	New	KeyCorpcs	$557,000	–	31,395	–	0.38%	–
TMUS	New	T-Mobile US, Inc.cs	$552,000	–	7,450	–	0.38%	–
BEAT	New	Bio Telemetry, Inc.cs	$549,000	–	11,400	–	0.37%	–
BAX	New	Baxter Internationalcs	$520,000	–	6,350	–	0.35%	–
ABBV	New	AbbVie Inc.cs	$515,000	–	7,080	–	0.35%	–
V	New	Visacs	$497,000	–	2,862	–	0.34%	–
MHK	New	Mohawk Industriescs	$490,000	–	3,325	–	0.33%	–
CNBKA	New	Century Bancorpcs	$488,000	–	5,549	–	0.33%	–
CBS	New	CBScs	$474,000	–	9,500	–	0.32%	–
SBUX	New	Starbuckscs	$472,000	–	5,625	–	0.32%	–
AKAM	New	Akamai Technologiescs	$469,000	–	5,850	–	0.32%	–
GSK	New	GlaxoSmithKlinecs	$468,000	–	11,700	–	0.32%	–
FBHS	New	Fortune Brands & Home Securitycs	$460,000	–	8,050	–	0.31%	–
MS	New	Morgan Stanleycs	$455,000	–	10,375	–	0.31%	–
OSK	New	Oshkosh Corpcs	$455,000	–	5,450	–	0.31%	–
PPG	New	PPG Industriescs	$451,000	–	3,865	–	0.31%	–
HEES	New	H&E Equipment Servicescs	$445,000	–	15,301	–	0.30%	–
ARE	New	Alexandria Real Estatecs	$445,000	–	3,152	–	0.30%	–
VRTX	New	Vertex Pharmaceuticalscs	$431,000	–	2,350	–	0.29%	–
WY	New	Weyerhaeusercs	$427,000	–	16,225	–	0.29%	–
HLT	New	Hilton Hotelscs	$425,000	–	4,350	–	0.29%	–
DRI	New	Darden Restaurantscs	$417,000	–	3,423	–	0.28%	–
EBAY	New	eBaycs	$415,000	–	10,500	–	0.28%	–
PXD	New	Pioneer Natural Resourcescs	$408,000	–	2,650	–	0.28%	–
SONY	New	Sony Corpcs	$398,000	–	7,602	–	0.27%	–
WM	New	Waste Management Inc.cs	$398,000	–	3,450	–	0.27%	–
NKTR	New	Nektar Therapeuticscs	$395,000	–	11,105	–	0.27%	–
GE	New	General Electriccs	$390,000	–	37,177	–	0.26%	–
HRS	New	Harriscs	$378,000	–	2,000	–	0.26%	–
BRKS	New	Brooks Automationcs	$376,000	–	9,700	–	0.26%	–
TTWO	New	Take Two Interactive Softwarecs	$372,000	–	3,275	–	0.25%	–
AAL	New	American Airlines Group Inc.cs	$370,000	–	11,337	–	0.25%	–
SWKS	New	Skyworks Solutions Inccs	$365,000	–	4,725	–	0.25%	–
NOC	New	Northrop Grummancs	$355,000	–	1,100	–	0.24%	–
SLB	New	Schlumbergercs	$353,000	–	8,874	–	0.24%	–
TOL	New	Toll Brotherscs	$346,000	–	9,450	–	0.24%	–
EW	New	Edwards Lifesciencescs	$323,000	–	1,750	–	0.22%	–
ELAN	New	Elanco Animal Healthcs	$321,000	–	9,500	–	0.22%	–
FCX	New	Freeport McMorancs	$319,000	–	27,500	–	0.22%	–
WMT	New	Walmart Inc.cs	$305,000	–	2,762	–	0.21%	–
KIM	New	Kimco Realty Corp.cs	$305,000	–	16,500	–	0.21%	–
CIEN	New	Ciena Corporationcs	$303,000	–	7,375	–	0.21%	–
RTN	New	Raytheoncs	$304,000	–	1,750	–	0.21%	–
NEE	New	NextEra Energy Inc.cs	$287,000	–	1,400	–	0.20%	–
	New	Restaurant Brands NZ Ltdcs	$283,000	–	45,000	–	0.19%	–
CMCSA	New	Comcast Corp Cl Acs	$281,000	–	6,646	–	0.19%	–
HQY	New	Healthequitycs	$277,000	–	4,240	–	0.19%	–
BMRN	New	Biomarin Pharmaceuticalcs	$270,000	–	3,150	–	0.18%	–
NVDA	New	Nvidiacs	$264,000	–	1,610	–	0.18%	–
HSBCPRA	New	HSBC Holdings Pfd Acs	$254,000	–	9,700	–	0.17%	–
COG	New	Cabot Oil & Gascs	$250,000	–	10,900	–	0.17%	–
ALK	New	Alaska Aircs	$246,000	–	3,850	–	0.17%	–
AZN	New	Astrazenecacs	$244,000	–	5,907	–	0.17%	–
CME	New	CME Groupcs	$239,000	–	1,230	–	0.16%	–
INTU	New	Intuit Inc.cs	$235,000	–	900	–	0.16%	–
SIVB	New	SVB Financial Groupcs	$230,000	–	1,025	–	0.16%	–
AVGO	New	Broadcomcs	$230,000	–	800	–	0.16%	–
ALB	New	Albemarle Corp.cs	$225,000	–	3,200	–	0.15%	–
XYL	New	Xylem Inccs	$217,000	–	2,600	–	0.15%	–
SHW	New	Sherwin-Williamscs	$206,000	–	450	–	0.14%	–
ALL	New	Allstatecs	$203,000	–	2,000	–	0.14%	–
MAR	New	Marriottcs	$203,000	–	1,450	–	0.14%	–
CP	New	Canadian Pacificcs	$201,000	–	855	–	0.14%	–
ZUO	New	Zuoracs	$198,000	–	12,894	–	0.13%	–
	New	Westshore Terminals Investmencs	$170,000	–	10,120	–	0.12%	–
TELL	New	Telluriancs	$86,000	–	11,000	–	0.06%	–
	New	Kingmaker Footwear Holdingscs	$19,000	–	120,000	–	0.01%	–
	New	Huadian Power International Ccs	$16,000	–	40,000	–	0.01%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
	Exit	Huadian Power International Ccs	$0	–	-40,000	–	-0.01%	–
	Exit	Kingmaker Footwear Holdingscs	$0	–	-120,000	–	-0.02%	–
TELL	Exit	Telluriancs	$0	–	-11,000	–	-0.06%	–
SNY	Exit	Sanofics	$0	–	-4,592	–	-0.13%	–
XYL	Exit	Xylem Inccs	$0	–	-2,600	–	-0.14%	–
	Exit	Westshore Terminals Investmencs	$0	–	-10,120	–	-0.14%	–
ATVI	Exit	Activision Blizzardcs	$0	–	-2,560	–	-0.14%	–
ASB	Exit	Associated Banc-Corpcs	$0	–	-8,500	–	-0.14%	–
SCHW	Exit	Charles Schwabcs	$0	–	-4,519	–	-0.14%	–
ROP	Exit	Roper Technologies Inccs	$0	–	-750	–	-0.14%	–
ACN	Exit	Accenture Ltdcs	$0	–	-1,300	–	-0.14%	–
SHW	Exit	Sherwin-Williamscs	$0	–	-500	–	-0.15%	–
	Exit	Restaurant Brands NZ Ltdcs	$0	–	-45,000	–	-0.15%	–
CMCSA	Exit	Comcast Corp Cl Acs	$0	–	-6,646	–	-0.15%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-1,400	–	-0.15%	–
GPS	Exit	The Gap Inc.cs	$0	–	-8,175	–	-0.15%	–
AZN	Exit	Astrazenecacs	$0	–	-6,007	–	-0.16%	–
CFR	Exit	Cullen/Frost Bankerscs	$0	–	-2,300	–	-0.16%	–
NVS	Exit	Novartis AG ADScs	$0	–	-2,780	–	-0.16%	–
MTRN	Exit	Materion Corpcs	$0	–	-4,000	–	-0.16%	–
C	Exit	Citigroupcs	$0	–	-3,400	–	-0.16%	–
BRKL	Exit	Brookline Bancorpcs	$0	–	-14,606	–	-0.16%	–
HSBCPRA	Exit	HSBC Holdings Pfd Acs	$0	–	-9,700	–	-0.16%	–
BNS	Exit	Bank of Nova Scotiacs	$0	–	-4,200	–	-0.16%	–
WFC	Exit	Wells Fargocs	$0	–	-4,800	–	-0.16%	–
KWR	Exit	Quaker Chemicalcs	$0	–	-1,250	–	-0.16%	–
BLK	Exit	Blackrockcs	$0	–	-550	–	-0.17%	–
RF	Exit	Regions Financialcs	$0	–	-14,425	–	-0.17%	–
DRI	Exit	Darden Restaurantscs	$0	–	-2,375	–	-0.17%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-3,926	–	-0.18%	–
LLY	Exit	Eli Lillycs	$0	–	-2,650	–	-0.18%	–
FL	Exit	Foot Locker, Inc.cs	$0	–	-5,650	–	-0.19%	–
SONY	Exit	Sony Corpcs	$0	–	-4,752	–	-0.19%	–
SYK	Exit	Strykercs	$0	–	-1,700	–	-0.20%	–
WM	Exit	Waste Management Inc.cs	$0	–	-3,450	–	-0.20%	–
PEP	Exit	Pepsicocs	$0	–	-2,887	–	-0.21%	–
TSEM	Exit	Tower Semiconductorcs	$0	–	-15,054	–	-0.21%	–
SUM	Exit	Summit Materials Inccs	$0	–	-18,108	–	-0.21%	–
DWDP	Exit	DowDuPont Inccs	$0	–	-5,211	–	-0.22%	–
HRS	Exit	Harriscs	$0	–	-2,000	–	-0.22%	–
MO	Exit	Altria Groupcs	$0	–	-6,000	–	-0.24%	–
WETF	Exit	WisdomTree Financialcs	$0	–	-44,400	–	-0.24%	–
MUR	Exit	Murphy Oilcs	$0	–	-11,300	–	-0.24%	–
COF	Exit	Capital One Finl.cs	$0	–	-4,000	–	-0.25%	–
VZ	Exit	Verizon Comm.cs	$0	–	-7,380	–	-0.26%	–
LPX	Exit	Louisiana Pacificcs	$0	–	-15,516	–	-0.27%	–
NOC	Exit	Northrop Grummancs	$0	–	-1,300	–	-0.27%	–
SPLK	Exit	Splunkcs	$0	–	-3,450	–	-0.27%	–
AXTA	Exit	Axalta Coating Systemscs	$0	–	-14,900	–	-0.28%	–
ETN	Exit	Eatoncs	$0	–	-5,125	–	-0.29%	–
SIVB	Exit	SVB Financial Groupcs	$0	–	-1,450	–	-0.29%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-7,877	–	-0.30%	–
AME	Exit	Ametekcs	$0	–	-6,100	–	-0.31%	–
SYY	Exit	Sysco Corpcs	$0	–	-6,900	–	-0.33%	–
ADI	Exit	Analog Devicescs	$0	–	-5,500	–	-0.33%	–
DY	Exit	Dycom Industriescs	$0	–	-6,300	–	-0.35%	–
BMRN	Exit	Biomarin Pharmaceuticalcs	$0	–	-5,500	–	-0.35%	–
ALK	Exit	Alaska Aircs	$0	–	-7,825	–	-0.35%	–
WBA	Exit	Walgreens Boots Alliancecs	$0	–	-7,450	–	-0.35%	–
SLB	Exit	Schlumbergercs	$0	–	-8,948	–	-0.36%	–
WY	Exit	Weyerhaeusercs	$0	–	-17,325	–	-0.36%	–
CP	Exit	Canadian Pacificcs	$0	–	-2,655	–	-0.37%	–
MCD	Exit	McDonald'scs	$0	–	-3,367	–	-0.37%	–
GE	Exit	General Electriccs	$0	–	-49,974	–	-0.37%	–
HEES	Exit	H&E Equipment Servicescs	$0	–	-15,701	–	-0.39%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-19,707	–	-0.39%	–
MDC	Exit	M.D.C. Holdings, Inc.cs	$0	–	-20,292	–	-0.39%	–
PNR	Exit	Pentaircs	$0	–	-14,000	–	-0.40%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-9,188	–	-0.40%	–
STZ	Exit	Constellation Brandscs	$0	–	-2,940	–	-0.41%	–
GIS	Exit	General Millscs	$0	–	-14,925	–	-0.42%	–
ST	Exit	Sensata Technologiescs	$0	–	-13,450	–	-0.43%	–
HD	Exit	Home Depotcs	$0	–	-3,299	–	-0.44%	–
EMR	Exit	Emerson Electriccs	$0	–	-9,007	–	-0.45%	–
BXMT	Exit	Blackstone Mortgage Trustcs	$0	–	-20,650	–	-0.45%	–
AAL	Exit	American Airlines Group Inc.cs	$0	–	-16,937	–	-0.46%	–
IFF	Exit	Int'l Flvrs & Frag.cs	$0	–	-5,100	–	-0.46%	–
MHK	Exit	Mohawk Industriescs	$0	–	-4,050	–	-0.46%	–
ITT	Exit	ITTcs	$0	–	-11,900	–	-0.47%	–
NBL	Exit	Noble Energycs	$0	–	-23,550	–	-0.48%	–
KO	Exit	Coca-Colacs	$0	–	-16,046	–	-0.48%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-8,760	–	-0.48%	–
EW	Exit	Edwards Lifesciencescs	$0	–	-4,350	–	-0.49%	–
TEX	Exit	Terexcs	$0	–	-19,210	–	-0.50%	–
STT	Exit	State Streetcs	$0	–	-9,250	–	-0.50%	–
T	Exit	A T & Tcs	$0	–	-23,910	–	-0.52%	–
GILD	Exit	Gilead Sciencescs	$0	–	-10,415	–	-0.52%	–
A	Exit	Agilentcs	$0	–	-11,825	–	-0.54%	–
ARW	Exit	Arrow Electronicscs	$0	–	-11,850	–	-0.57%	–
FBHS	Exit	Fortune Brands & Home Securitycs	$0	–	-16,838	–	-0.57%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-741	–	-0.58%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-5,374	–	-0.58%	–
K	Exit	Kelloggcs	$0	–	-13,160	–	-0.60%	–
PH	Exit	Parker Hannifincs	$0	–	-5,025	–	-0.60%	–
BA	Exit	Boeingcs	$0	–	-2,500	–	-0.60%	–
UNP	Exit	Union Pacificcs	$0	–	-5,848	–	-0.62%	–
KEY	Exit	KeyCorpcs	$0	–	-48,445	–	-0.63%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-15,767	–	-0.64%	–
CVX	Exit	Chevron Corporationcs	$0	–	-8,025	–	-0.64%	–
PYPL	Exit	PayPalcs	$0	–	-11,300	–	-0.65%	–
EL	Exit	Estee Laudercs	$0	–	-6,950	–	-0.66%	–
DVN	Exit	Devon Energycs	$0	–	-25,450	–	-0.66%	–
FDX	Exit	FedExcs	$0	–	-4,275	–	-0.67%	–
PG	Exit	Procter & Gamblecs	$0	–	-12,396	–	-0.67%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-866	–	-0.68%	–
EA	Exit	Electronic Artscs	$0	–	-8,825	–	-0.69%	–
CCL	Exit	Carnival Corp.-Cl Acs	$0	–	-16,775	–	-0.70%	–
MPC	Exit	Marathon Petroleumcs	$0	–	-13,417	–	-0.70%	–
FB	Exit	Facebook Inccs	$0	–	-6,555	–	-0.70%	–
DE	Exit	Deerecs	$0	–	-7,400	–	-0.72%	–
AMGN	Exit	Amgencs	$0	–	-5,552	–	-0.75%	–
SBUX	Exit	Starbuckscs	$0	–	-21,100	–	-0.78%	–
R	Exit	Ryder System, Inc.cs	$0	–	-16,875	–	-0.80%	–
AMN	Exit	AMN Healthcare Servicescs	$0	–	-23,147	–	-0.82%	–
LRCX	Exit	Lam Researchcs	$0	–	-8,350	–	-0.82%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-13,533	–	-0.83%	–
MMM	Exit	3M Corp.cs	$0	–	-6,124	–	-0.84%	–
CR	Exit	Cranecs	$0	–	-13,150	–	-0.84%	–
JBHT	Exit	J.B. Hunt Transport Servicescs	$0	–	-10,950	–	-0.85%	–
PPG	Exit	PPG Industriescs	$0	–	-11,975	–	-0.85%	–
BRKS	Exit	Brooks Automationcs	$0	–	-37,800	–	-0.86%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-35,950	–	-0.90%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-8,824	–	-0.94%	–
CRL	Exit	Charles River Laboratoriescs	$0	–	-10,800	–	-0.94%	–
PXD	Exit	Pioneer Natural Resourcescs	$0	–	-8,350	–	-0.95%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-9,687	–	-0.95%	–
CELG	Exit	Celgenecs	$0	–	-17,226	–	-1.00%	–
KSU	Exit	Kansas City So.cs	$0	–	-13,630	–	-1.00%	–
FITB	Exit	Fifth Third Bankcs	$0	–	-56,125	–	-1.02%	–
BBT	Exit	BB&Tcs	$0	–	-33,040	–	-1.04%	–
STI	Exit	SunTrust Bankscs	$0	–	-24,350	–	-1.06%	–
WMT	Exit	Walmart Inc.cs	$0	–	-17,412	–	-1.06%	–
EOG	Exit	EOG Resourcescs	$0	–	-12,955	–	-1.08%	–
STX	Exit	Seagate Technology PCcs	$0	–	-35,600	–	-1.10%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-7,936	–	-1.10%	–
UPS	Exit	UPScs	$0	–	-14,975	–	-1.14%	–
PKG	Exit	Packaging Corp of Americacs	$0	–	-16,000	–	-1.14%	–
ZTS	Exit	Zoetis Inccs	$0	–	-19,423	–	-1.16%	–
AAWW	Exit	Atlas Air Worldwidecs	$0	–	-27,950	–	-1.16%	–
MS	Exit	Morgan Stanleycs	$0	–	-40,222	–	-1.22%	–
MSFT	Exit	Microsoftcs	$0	–	-17,232	–	-1.28%	–
CSX	Exit	CSX Corpcs	$0	–	-27,355	–	-1.32%	–
MRK	Exit	Merckcs	$0	–	-28,615	–	-1.32%	–
DIS	Exit	Walt Disneycs	$0	–	-17,430	–	-1.33%	–
DAL	Exit	Delta Airlinescs	$0	–	-36,741	–	-1.38%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-32,159	–	-1.45%	–
INDB	Exit	Independent Bankcs	$0	–	-27,165	–	-1.46%	–
PFE	Exit	Pfizercs	$0	–	-51,939	–	-1.49%	–
ABT	Exit	Abbott Labscs	$0	–	-32,226	–	-1.54%	–
XOM	Exit	Exxon Mobilcs	$0	–	-27,842	–	-1.54%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-20,888	–	-1.54%	–
INTC	Exit	Intelcs	$0	–	-68,067	–	-2.09%	–
AAPL	Exit	Apple Computercs	$0	–	-15,102	–	-2.22%	–
WASH	Exit	Washington Trustcs	$0	–	-73,304	–	-2.64%	–
CSCO	Exit	Cisco Systemscs	$0	–	-86,150	–	-2.73%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-37,493	–	-3.37%	–
CHD	Exit	Church and Dwightcs	$0	–	-91,650	–	-3.54%	–

Q3 2018

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$5,441,000	+7.6%	91,650	-3.7%	3.54%	+5.8%
JNJ	Sell	Johnson & Johnsoncs	$5,180,000	+9.1%	37,493	-4.2%	3.37%	+7.3%
CSCO	Sell	Cisco Systemscs	$4,191,000	+12.9%	86,150	-0.1%	2.73%	+11.1%
WASH	Sell	Washington Trustcs	$4,054,000	-5.9%	73,304	-1.2%	2.64%	-7.5%
AAPL	Sell	Apple Computercs	$3,409,000	+21.7%	15,102	-0.2%	2.22%	+19.6%
INTC	Buy	Intelcs	$3,219,000	+57.3%	68,067	+65.3%	2.09%	+54.8%
KMB	Sell	Kimberly Clarkcs	$2,374,000	+1.8%	20,888	-5.6%	1.54%	+0.1%
XOM	Sell	Exxon Mobilcs	$2,367,000	+1.0%	27,842	-1.7%	1.54%	-0.6%
ABT	Buy	Abbott Labscs	$2,364,000	+78.0%	32,226	+48.0%	1.54%	+75.2%
PFE	Buy	Pfizercs	$2,289,000	+21.6%	51,939	+0.1%	1.49%	+19.6%
INDB	Sell	Independent Bankcs	$2,244,000	+4.8%	27,165	-0.5%	1.46%	+3.1%
PB	Sell	Prosperity Bancshares, Inc.cs	$2,230,000	-2.7%	32,159	-4.1%	1.45%	-4.2%
DAL	Sell	Delta Airlinescs	$2,125,000	+11.2%	36,741	-4.8%	1.38%	+9.3%
DIS	Sell	Walt Disneycs	$2,038,000	-7.7%	17,430	-17.2%	1.33%	-9.1%
MRK	Sell	Merckcs	$2,030,000	+12.0%	28,615	-4.2%	1.32%	+10.1%
MSFT	Sell	Microsoftcs	$1,971,000	+14.0%	17,232	-1.7%	1.28%	+12.2%
MS	Buy	Morgan Stanleycs	$1,873,000	+15.3%	40,222	+17.4%	1.22%	+13.4%
AAWW	New	Atlas Air Worldwidecs	$1,782,000	–	27,950	–	1.16%	–
ZTS	Sell	Zoetis Inccs	$1,778,000	+6.7%	19,423	-0.8%	1.16%	+5.0%
PKG	Buy	Packaging Corp of Americacs	$1,755,000	+217.4%	16,000	+223.2%	1.14%	+212.0%
UPS	Sell	UPScs	$1,748,000	+3.2%	14,975	-6.1%	1.14%	+1.5%
BRKB	Buy	Berkshire Hathaway Bcs	$1,699,000	+35.2%	7,936	+17.8%	1.10%	+33.0%
STX	New	Seagate Technology PCcs	$1,686,000	–	35,600	–	1.10%	–
EOG	Buy	EOG Resourcescs	$1,653,000	+81.4%	12,955	+77.0%	1.08%	+78.6%
WMT	Buy	Walmart Inc.cs	$1,635,000	+9.8%	17,412	+0.1%	1.06%	+8.0%
STI	Buy	SunTrust Bankscs	$1,626,000	+120.0%	24,350	+117.4%	1.06%	+116.4%
BBT	Buy	BB&Tcs	$1,604,000	-3.4%	33,040	+0.3%	1.04%	-5.0%
FITB	Buy	Fifth Third Bankcs	$1,567,000	+25.5%	56,125	+28.9%	1.02%	+23.4%
CELG	Sell	Celgenecs	$1,542,000	+4.0%	17,226	-7.8%	1.00%	+2.2%
IBM	Sell	Int'l Bus. Mach.cs	$1,465,000	-0.6%	9,687	-8.2%	0.95%	-2.3%
PXD	Buy	Pioneer Natural Resourcescs	$1,454,000	+372.1%	8,350	+413.8%	0.95%	+363.7%
CRL	New	Charles River Laboratoriescs	$1,453,000	–	10,800	–	0.94%	–
URI	Sell	United Rentals, Inc.cs	$1,444,000	+3.8%	8,824	-6.4%	0.94%	+2.1%
CFG	Buy	Citizens Financial Groupcs	$1,387,000	+7.4%	35,950	+8.3%	0.90%	+5.6%
BRKS	New	Brooks Automationcs	$1,324,000	–	37,800	–	0.86%	–
PPG	Sell	PPG Industriescs	$1,307,000	-8.3%	11,975	-12.9%	0.85%	-9.9%
JBHT	Buy	J.B. Hunt Transport Servicescs	$1,302,000	+49.8%	10,950	+53.1%	0.85%	+47.3%
CR	Sell	Cranecs	$1,293,000	-0.4%	13,150	-18.8%	0.84%	-2.0%
MMM	Sell	3M Corp.cs	$1,290,000	+5.4%	6,124	-1.6%	0.84%	+3.7%
ABBV	Sell	AbbVie Inc.cs	$1,280,000	-14.6%	13,533	-16.4%	0.83%	-15.9%
LRCX	Buy	Lam Researchcs	$1,267,000	-0.2%	8,350	+13.6%	0.82%	-1.9%
AMN	Buy	AMN Healthcare Servicescs	$1,266,000	+33.7%	23,147	+43.2%	0.82%	+31.5%
R	Sell	Ryder System, Inc.cs	$1,233,000	-19.1%	16,875	-20.5%	0.80%	-20.4%
SBUX	Sell	Starbuckscs	$1,199,000	-22.0%	21,100	-33.0%	0.78%	-23.3%
AMGN	Buy	Amgencs	$1,151,000	+31.2%	5,552	+16.8%	0.75%	+29.1%
DE	Buy	Deerecs	$1,112,000	+130.7%	7,400	+114.5%	0.72%	+126.6%
FB	Buy	Facebook Inccs	$1,078,000	+126.5%	6,555	+167.6%	0.70%	+122.5%
MPC	Sell	Marathon Petroleumcs	$1,073,000	-32.2%	13,417	-40.5%	0.70%	-33.3%
CCL	Buy	Carnival Corp.-Cl Acs	$1,070,000	+67.2%	16,775	+50.1%	0.70%	+64.5%
EA	New	Electronic Artscs	$1,063,000	–	8,825	–	0.69%	–
GOOGL	Buy	Alphabet Inc Class Acs	$1,045,000	+23.2%	866	+15.3%	0.68%	+21.2%
PG	Sell	Procter & Gamblecs	$1,032,000	-20.3%	12,396	-25.3%	0.67%	-21.6%
FDX	Buy	FedExcs	$1,029,000	+132.3%	4,275	+119.2%	0.67%	+128.3%
DVN	Buy	Devon Energycs	$1,016,000	+2.7%	25,450	+13.1%	0.66%	+1.1%
EL	Buy	Estee Laudercs	$1,010,000	+329.8%	6,950	+321.2%	0.66%	+323.9%
PYPL	Buy	PayPalcs	$993,000	+16.3%	11,300	+10.2%	0.65%	+14.3%
CVX	Sell	Chevron Corporationcs	$981,000	-4.8%	8,025	-1.5%	0.64%	-6.3%
BMY	Sell	Bristol Myers Squibbcs	$979,000	+11.9%	15,767	-0.3%	0.64%	+10.0%
KEY	Sell	KeyCorpcs	$964,000	-6.5%	48,445	-8.2%	0.63%	-8.1%
BA	Buy	Boeingcs	$930,000	+70.6%	2,500	+53.8%	0.60%	+68.1%
PH	Sell	Parker Hannifincs	$924,000	-4.3%	5,025	-19.0%	0.60%	-5.9%
HON	Buy	Honeywell Int'l.cs	$894,000	+16.3%	5,374	+0.7%	0.58%	+14.6%
FBHS	Sell	Fortune Brands & Home Securitycs	$882,000	-24.2%	16,838	-22.4%	0.57%	-25.5%
ARW	Sell	Arrow Electronicscs	$874,000	-21.8%	11,850	-20.2%	0.57%	-23.0%
A	Sell	Agilentcs	$834,000	+9.4%	11,825	-4.1%	0.54%	+7.5%
T	Buy	A T & Tcs	$803,000	+78.4%	23,910	+70.7%	0.52%	+75.2%
STT	New	State Streetcs	$775,000	–	9,250	–	0.50%	–
TEX	Sell	Terexcs	$767,000	-6.8%	19,210	-1.5%	0.50%	-8.3%
EW	New	Edwards Lifesciencescs	$757,000	–	4,350	–	0.49%	–
KO	Buy	Coca-Colacs	$741,000	+5.7%	16,046	+0.5%	0.48%	+4.1%
NBL	New	Noble Energycs	$735,000	–	23,550	–	0.48%	–
ITT	New	ITTcs	$729,000	–	11,900	–	0.47%	–
IFF	New	Int'l Flvrs & Frag.cs	$710,000	–	5,100	–	0.46%	–
MHK	Buy	Mohawk Industriescs	$710,000	+6.0%	4,050	+29.6%	0.46%	+4.3%
AAL	Buy	American Airlines Group Inc.cs	$700,000	+16.7%	16,937	+7.1%	0.46%	+14.6%
EMR	Sell	Emerson Electriccs	$690,000	-38.2%	9,007	-44.3%	0.45%	-39.2%
ST	New	Sensata Technologiescs	$666,000	–	13,450	–	0.43%	–
STZ	New	Constellation Brandscs	$634,000	–	2,940	–	0.41%	–
PNR	Sell	Pentaircs	$607,000	-3.8%	14,000	-6.7%	0.40%	-5.3%
MDC	Sell	M.D.C. Holdings, Inc.cs	$600,000	-61.6%	20,292	-60.1%	0.39%	-62.3%
RHHBY	Sell	Roche Holdings Ltdcs	$594,000	-8.8%	19,707	-16.3%	0.39%	-10.2%
HEES	New	H&E Equipment Servicescs	$593,000	–	15,701	–	0.39%	–
GE	Sell	General Electriccs	$564,000	-27.2%	49,974	-12.2%	0.37%	-28.3%
CP	Sell	Canadian Pacificcs	$563,000	+11.7%	2,655	-3.6%	0.37%	+9.9%
WY	Sell	Weyerhaeusercs	$559,000	-16.3%	17,325	-5.5%	0.36%	-17.6%
SLB	Sell	Schlumbergercs	$545,000	-10.8%	8,948	-1.8%	0.36%	-12.1%
WBA	Sell	Walgreens Boots Alliancecs	$543,000	-44.8%	7,450	-54.6%	0.35%	-45.8%
ALK	Sell	Alaska Aircs	$539,000	-15.6%	7,825	-26.0%	0.35%	-16.8%
BMRN	New	Biomarin Pharmaceuticalcs	$533,000	–	5,500	–	0.35%	–
DY	Sell	Dycom Industriescs	$533,000	-66.1%	6,300	-62.1%	0.35%	-66.6%
ADI	Sell	Analog Devicescs	$509,000	-6.9%	5,500	-3.5%	0.33%	-8.6%
SYY	Sell	Sysco Corpcs	$505,000	+5.6%	6,900	-1.4%	0.33%	+3.8%
AME	New	Ametekcs	$483,000	–	6,100	–	0.31%	–
SIVB	New	SVB Financial Groupcs	$451,000	–	1,450	–	0.29%	–
ETN	Sell	Eatoncs	$444,000	-50.3%	5,125	-57.1%	0.29%	-51.0%
AXTA	Sell	Axalta Coating Systemscs	$434,000	-30.1%	14,900	-27.3%	0.28%	-31.4%
SPLK	New	Splunkcs	$417,000	–	3,450	–	0.27%	–
NOC	New	Northrop Grummancs	$413,000	–	1,300	–	0.27%	–
LPX	Sell	Louisiana Pacificcs	$411,000	-64.8%	15,516	-63.8%	0.27%	-65.4%
VZ	Sell	Verizon Comm.cs	$394,000	-54.9%	7,380	-57.5%	0.26%	-55.6%
COF	Buy	Capital One Finl.cs	$380,000	+6.1%	4,000	+2.6%	0.25%	+4.2%
WETF	Sell	WisdomTree Financialcs	$377,000	-42.8%	44,400	-38.8%	0.24%	-43.8%
MUR	New	Murphy Oilcs	$377,000	–	11,300	–	0.24%	–
MO	Sell	Altria Groupcs	$362,000	+4.3%	6,000	-1.9%	0.24%	+2.6%
SUM	Sell	Summit Materials Inccs	$329,000	-36.1%	18,108	-7.7%	0.21%	-37.2%
TSEM	Sell	Tower Semiconductorcs	$328,000	-7.3%	15,054	-6.5%	0.21%	-9.0%
PEP	Buy	Pepsicocs	$323,000	+4.5%	2,887	+1.7%	0.21%	+2.9%
SYK	Sell	Strykercs	$302,000	+2.0%	1,700	-2.9%	0.20%	0.0%
FL	New	Foot Locker, Inc.cs	$288,000	–	5,650	–	0.19%	–
SONY	Buy	Sony Corpcs	$288,000	+18.5%	4,752	+0.4%	0.19%	+16.1%
CNBKA	Sell	Century Bancorpcs	$284,000	-8.7%	3,926	-3.6%	0.18%	-10.2%
RF	Sell	Regions Financialcs	$265,000	-60.0%	14,425	-61.3%	0.17%	-60.7%
BLK	New	Blackrockcs	$259,000	–	550	–	0.17%	–
KWR	New	Quaker Chemicalcs	$253,000	–	1,250	–	0.16%	–
WFC	Sell	Wells Fargocs	$252,000	-10.3%	4,800	-5.4%	0.16%	-11.8%
BRKL	Buy	Brookline Bancorpcs	$244,000	+4.7%	14,606	+16.8%	0.16%	+3.2%
C	Sell	Citigroupcs	$244,000	-76.6%	3,400	-78.2%	0.16%	-77.0%
MTRN	New	Materion Corpcs	$242,000	–	4,000	–	0.16%	–
CFR	New	Cullen/Frost Bankerscs	$240,000	–	2,300	–	0.16%	–
GPS	Sell	The Gap Inc.cs	$236,000	-43.0%	8,175	-36.0%	0.15%	-43.8%
SCHW	New	Charles Schwabcs	$222,000	–	4,519	–	0.14%	–
ROP	New	Roper Technologies Inccs	$222,000	–	750	–	0.14%	–
ASB	Sell	Associated Banc-Corpcs	$221,000	-23.0%	8,500	-19.0%	0.14%	-24.2%
ATVI	New	Activision Blizzardcs	$213,000	–	2,560	–	0.14%	–
XYL	New	Xylem Inccs	$208,000	–	2,600	–	0.14%	–
SNY	New	Sanofics	$205,000	–	4,592	–	0.13%	–
NVDA	Exit	Nividiacs	$0	–	-845	–	-0.13%	–
RDSA	Exit	Royal Dutchcs	$0	–	-2,945	–	-0.14%	–
JPM	Exit	J.P. Morgan Chasecs	$0	–	-1,996	–	-0.14%	–
IBP	Exit	Installed Building Products Incs	$0	–	-3,850	–	-0.14%	–
WYND	Exit	Wyndham Destinationscs	$0	–	-5,150	–	-0.15%	–
EPAM	Exit	EPAM Systems Inccs	$0	–	-1,900	–	-0.16%	–
TGT	Exit	Targetcs	$0	–	-3,316	–	-0.17%	–
MZOR	Exit	Mazor Robotics Ltd.cs	$0	–	-4,600	–	-0.17%	–
CTRL	Exit	Control4 Corpcs	$0	–	-11,200	–	-0.18%	–
CMA	Exit	Comericacs	$0	–	-3,100	–	-0.19%	–
WH	Exit	Wyndham Hotels & Resortscs	$0	–	-5,150	–	-0.20%	–
ABAX	Exit	Abaxiscs	$0	–	-4,150	–	-0.23%	–
AA	Exit	Alcoa Corpcs	$0	–	-7,650	–	-0.24%	–
XLNX	Exit	Xilinx Corpcs	$0	–	-5,825	–	-0.25%	–
GWR	Exit	Genesee and Wyomingcs	$0	–	-5,270	–	-0.28%	–
TEN	Exit	Tenneco Inc Newcs	$0	–	-10,150	–	-0.30%	–
MXL	Exit	MaxLinear, Inc.cs	$0	–	-29,550	–	-0.30%	–
ALB	Exit	Albemarle Corp.cs	$0	–	-5,000	–	-0.31%	–
LECO	Exit	Lincoln Electric Holdingscs	$0	–	-5,400	–	-0.31%	–
PHM	Exit	Pultecs	$0	–	-16,700	–	-0.32%	–
SNA	Exit	Snap-On Toolscs	$0	–	-3,100	–	-0.33%	–
TRN	Exit	Trinity Industriescs	$0	–	-14,622	–	-0.33%	–
BERY	Exit	Berry Global Group, Inc.cs	$0	–	-11,720	–	-0.36%	–
GS	Exit	Goldman Sachscs	$0	–	-2,725	–	-0.40%	–
EGN	Exit	Energen Corp.cs	$0	–	-9,400	–	-0.45%	–
AMWD	Exit	American Woodmark Corporationcs	$0	–	-7,500	–	-0.45%	–
UTX	Exit	United Technologiescs	$0	–	-5,503	–	-0.46%	–
PWR	Exit	Quanta Servicescs	$0	–	-23,326	–	-0.52%	–
ACM	Exit	AECOM Technology Corpcs	$0	–	-25,200	–	-0.55%	–
FNB	Exit	FNB Corpcs	$0	–	-62,900	–	-0.56%	–
ORCL	Exit	Oraclecs	$0	–	-20,900	–	-0.61%	–
GM	Exit	General Motorscs	$0	–	-28,675	–	-0.75%	–
PRU	Exit	Prudential Financialcs	$0	–	-13,370	–	-0.83%	–
LEN	Exit	Lennarcs	$0	–	-27,550	–	-0.96%	–
NEM	Exit	Newmont Miningcs	$0	–	-38,350	–	-0.96%	–
RPM	Exit	RPM Internationalcs	$0	–	-29,766	–	-1.15%	–
BEN	Exit	Franklin Resourcescs	$0	–	-55,990	–	-1.19%	–

Q2 2018

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,058,000	–	95,150	–	3.34%	–
JNJ	New	Johnson & Johnsoncs	$4,747,000	–	39,118	–	3.14%	–
WASH	New	Washington Trustcs	$4,310,000	–	74,188	–	2.85%	–
CSCO	New	Cisco Systemscs	$3,711,000	–	86,250	–	2.45%	–
AAPL	New	Apple Computercs	$2,802,000	–	15,138	–	1.85%	–
XOM	New	Exxon Mobilcs	$2,343,000	–	28,317	–	1.55%	–
KMB	New	Kimberly Clarkcs	$2,332,000	–	22,138	–	1.54%	–
PB	New	Prosperity Bancshares, Inc.cs	$2,292,000	–	33,534	–	1.52%	–
DIS	New	Walt Disneycs	$2,207,000	–	21,054	–	1.46%	–
INDB	New	Independent Bankcs	$2,141,000	–	27,315	–	1.42%	–
INTC	New	Intelcs	$2,046,000	–	41,167	–	1.35%	–
DAL	New	Delta Airlinescs	$1,911,000	–	38,581	–	1.26%	–
PFE	New	Pfizercs	$1,883,000	–	51,889	–	1.24%	–
MRK	New	Merckcs	$1,813,000	–	29,865	–	1.20%	–
BEN	New	Franklin Resourcescs	$1,794,000	–	55,990	–	1.19%	–
CSX	New	CSX Corpcs	$1,745,000	–	27,355	–	1.15%	–
RPM	New	RPM Internationalcs	$1,736,000	–	29,766	–	1.15%	–
MSFT	New	Microsoftcs	$1,729,000	–	17,529	–	1.14%	–
UPS	New	UPScs	$1,694,000	–	15,950	–	1.12%	–
ZTS	New	Zoetis Inccs	$1,667,000	–	19,573	–	1.10%	–
BBT	New	BB&Tcs	$1,661,000	–	32,940	–	1.10%	–
MS	New	Morgan Stanleycs	$1,624,000	–	34,272	–	1.07%	–
MPC	New	Marathon Petroleumcs	$1,582,000	–	22,550	–	1.05%	–
DY	New	Dycom Industriescs	$1,571,000	–	16,625	–	1.04%	–
MDC	New	M.D.C. Holdings, Inc.cs	$1,564,000	–	50,829	–	1.03%	–
SBUX	New	Starbuckscs	$1,538,000	–	31,475	–	1.02%	–
R	New	Ryder System, Inc.cs	$1,525,000	–	21,225	–	1.01%	–
ABBV	New	AbbVie Inc.cs	$1,499,000	–	16,183	–	0.99%	–
WMT	New	Walmart Inc.cs	$1,489,000	–	17,387	–	0.98%	–
CELG	New	Celgenecs	$1,483,000	–	18,676	–	0.98%	–
IBM	New	Int'l Bus. Mach.cs	$1,474,000	–	10,550	–	0.98%	–
NEM	New	Newmont Miningcs	$1,446,000	–	38,350	–	0.96%	–
LEN	New	Lennarcs	$1,446,000	–	27,550	–	0.96%	–
KSU	New	Kansas City So.cs	$1,444,000	–	13,630	–	0.96%	–
PPG	New	PPG Industriescs	$1,426,000	–	13,750	–	0.94%	–
URI	New	United Rentals, Inc.cs	$1,391,000	–	9,424	–	0.92%	–
ABT	New	Abbott Labscs	$1,328,000	–	21,777	–	0.88%	–
CR	New	Cranecs	$1,298,000	–	16,200	–	0.86%	–
PG	New	Procter & Gamblecs	$1,295,000	–	16,596	–	0.86%	–
CFG	New	Citizens Financial Groupcs	$1,291,000	–	33,200	–	0.85%	–
LRCX	New	Lam Researchcs	$1,270,000	–	7,350	–	0.84%	–
BRKB	New	Berkshire Hathaway Bcs	$1,257,000	–	6,736	–	0.83%	–
FITB	New	Fifth Third Bankcs	$1,249,000	–	43,525	–	0.83%	–
PRU	New	Prudential Financialcs	$1,250,000	–	13,370	–	0.83%	–
MMM	New	3M Corp.cs	$1,224,000	–	6,221	–	0.81%	–
LPX	New	Louisiana Pacificcs	$1,166,000	–	42,841	–	0.77%	–
FBHS	New	Fortune Brands & Home Securitycs	$1,164,000	–	21,688	–	0.77%	–
GM	New	General Motorscs	$1,130,000	–	28,675	–	0.75%	–
ARW	New	Arrow Electronicscs	$1,118,000	–	14,850	–	0.74%	–
EMR	New	Emerson Electriccs	$1,117,000	–	16,158	–	0.74%	–
C	New	Citigroupcs	$1,044,000	–	15,595	–	0.69%	–
KEY	New	KeyCorpcs	$1,031,000	–	52,745	–	0.68%	–
CVX	New	Chevron Corporationcs	$1,030,000	–	8,150	–	0.68%	–
DVN	New	Devon Energycs	$989,000	–	22,500	–	0.65%	–
WBA	New	Walgreens Boots Alliancecs	$984,000	–	16,400	–	0.65%	–
PH	New	Parker Hannifincs	$966,000	–	6,200	–	0.64%	–
AMN	New	AMN Healthcare Servicescs	$947,000	–	16,165	–	0.63%	–
ORCL	New	Oraclecs	$921,000	–	20,900	–	0.61%	–
K	New	Kelloggcs	$919,000	–	13,160	–	0.61%	–
EOG	New	EOG Resourcescs	$911,000	–	7,320	–	0.60%	–
ETN	New	Eatoncs	$893,000	–	11,950	–	0.59%	–
AMGN	New	Amgencs	$877,000	–	4,752	–	0.58%	–
BMY	New	Bristol Myers Squibbcs	$875,000	–	15,817	–	0.58%	–
VZ	New	Verizon Comm.cs	$873,000	–	17,350	–	0.58%	–
JBHT	New	J.B. Hunt Transport Servicescs	$869,000	–	7,150	–	0.58%	–
PYPL	New	PayPalcs	$854,000	–	10,250	–	0.56%	–
GOOGL	New	Alphabet Inc Class Acs	$848,000	–	751	–	0.56%	–
FNB	New	FNB Corpcs	$844,000	–	62,900	–	0.56%	–
ACM	New	AECOM Technology Corpcs	$832,000	–	25,200	–	0.55%	–
UNP	New	Union Pacificcs	$829,000	–	5,848	–	0.55%	–
GOOG	New	Alphabet Inc Class Ccs	$827,000	–	741	–	0.55%	–
TEX	New	Terexcs	$823,000	–	19,510	–	0.54%	–
PWR	New	Quanta Servicescs	$779,000	–	23,326	–	0.52%	–
GE	New	General Electriccs	$775,000	–	56,924	–	0.51%	–
HON	New	Honeywell Int'l.cs	$769,000	–	5,337	–	0.51%	–
A	New	Agilentcs	$762,000	–	12,325	–	0.50%	–
STI	New	SunTrust Bankscs	$739,000	–	11,200	–	0.49%	–
GILD	New	Gilead Sciencescs	$738,000	–	10,415	–	0.49%	–
KO	New	Coca-Colacs	$701,000	–	15,973	–	0.46%	–
NKE	New	Nike Inc Class Bcs	$698,000	–	8,760	–	0.46%	–
UTX	New	United Technologiescs	$688,000	–	5,503	–	0.46%	–
AMWD	New	American Woodmark Corporationcs	$687,000	–	7,500	–	0.45%	–
EGN	New	Energen Corp.cs	$685,000	–	9,400	–	0.45%	–
MHK	New	Mohawk Industriescs	$670,000	–	3,125	–	0.44%	–
WY	New	Weyerhaeusercs	$668,000	–	18,325	–	0.44%	–
RF	New	Regions Financialcs	$663,000	–	37,290	–	0.44%	–
GIS	New	General Millscs	$661,000	–	14,925	–	0.44%	–
WETF	New	WisdomTree Financialcs	$659,000	–	72,550	–	0.44%	–
RHHBY	New	Roche Holdings Ltdcs	$651,000	–	23,557	–	0.43%	–
BXMT	New	Blackstone Mortgage Trustcs	$649,000	–	20,650	–	0.43%	–
HD	New	Home Depotcs	$644,000	–	3,299	–	0.43%	–
CCL	New	Carnival Corp.-Cl Acs	$640,000	–	11,175	–	0.42%	–
ALK	New	Alaska Aircs	$639,000	–	10,575	–	0.42%	–
PNR	New	Pentaircs	$631,000	–	15,000	–	0.42%	–
AXTA	New	Axalta Coating Systemscs	$621,000	–	20,500	–	0.41%	–
SLB	New	Schlumbergercs	$611,000	–	9,111	–	0.40%	–
AAL	New	American Airlines Group Inc.cs	$600,000	–	15,812	–	0.40%	–
GS	New	Goldman Sachscs	$601,000	–	2,725	–	0.40%	–
CL	New	Colgate-Palmolivecs	$595,000	–	9,188	–	0.39%	–
PKG	New	Packaging Corp of Americacs	$553,000	–	4,950	–	0.37%	–
ADI	New	Analog Devicescs	$547,000	–	5,700	–	0.36%	–
BA	New	Boeingcs	$545,000	–	1,625	–	0.36%	–
BERY	New	Berry Global Group, Inc.cs	$538,000	–	11,720	–	0.36%	–
MCD	New	McDonald'scs	$528,000	–	3,367	–	0.35%	–
SUM	New	Summit Materials Inccs	$515,000	–	19,628	–	0.34%	–
CP	New	Canadian Pacificcs	$504,000	–	2,755	–	0.33%	–
TRN	New	Trinity Industriescs	$501,000	–	14,622	–	0.33%	–
SNA	New	Snap-On Toolscs	$498,000	–	3,100	–	0.33%	–
DE	New	Deerecs	$482,000	–	3,450	–	0.32%	–
PHM	New	Pultecs	$480,000	–	16,700	–	0.32%	–
SYY	New	Sysco Corpcs	$478,000	–	7,000	–	0.32%	–
FB	New	Facebook Inccs	$476,000	–	2,450	–	0.32%	–
QSR	New	Restaurant Brands Int'lcs	$475,000	–	7,877	–	0.31%	–
LECO	New	Lincoln Electric Holdingscs	$474,000	–	5,400	–	0.31%	–
ALB	New	Albemarle Corp.cs	$472,000	–	5,000	–	0.31%	–
MXL	New	MaxLinear, Inc.cs	$461,000	–	29,550	–	0.30%	–
T	New	A T & Tcs	$450,000	–	14,005	–	0.30%	–
TEN	New	Tenneco Inc Newcs	$446,000	–	10,150	–	0.30%	–
FDX	New	FedExcs	$443,000	–	1,950	–	0.29%	–
GWR	New	Genesee and Wyomingcs	$429,000	–	5,270	–	0.28%	–
GPS	New	The Gap Inc.cs	$414,000	–	12,775	–	0.27%	–
XLNX	New	Xilinx Corpcs	$380,000	–	5,825	–	0.25%	–
COF	New	Capital One Finl.cs	$358,000	–	3,900	–	0.24%	–
AA	New	Alcoa Corpcs	$359,000	–	7,650	–	0.24%	–
TSEM	New	Tower Semiconductorcs	$354,000	–	16,104	–	0.23%	–
MO	New	Altria Groupcs	$347,000	–	6,114	–	0.23%	–
DWDP	New	DowDuPont Inccs	$344,000	–	5,211	–	0.23%	–
ABAX	New	Abaxiscs	$344,000	–	4,150	–	0.23%	–
CNBKA	New	Century Bancorpcs	$311,000	–	4,074	–	0.21%	–
PEP	New	Pepsicocs	$309,000	–	2,838	–	0.20%	–
PXD	New	Pioneer Natural Resourcescs	$308,000	–	1,625	–	0.20%	–
WH	New	Wyndham Hotels & Resortscs	$303,000	–	5,150	–	0.20%	–
SYK	New	Strykercs	$296,000	–	1,750	–	0.20%	–
HRS	New	Harriscs	$289,000	–	2,000	–	0.19%	–
ASB	New	Associated Banc-Corpcs	$287,000	–	10,500	–	0.19%	–
CMA	New	Comericacs	$282,000	–	3,100	–	0.19%	–
WM	New	Waste Management Inc.cs	$281,000	–	3,450	–	0.19%	–
WFC	New	Wells Fargocs	$281,000	–	5,072	–	0.19%	–
CTRL	New	Control4 Corpcs	$272,000	–	11,200	–	0.18%	–
HSBCPRA	New	HSBC Holdings Pfd Acs	$258,000	–	9,700	–	0.17%	–
MZOR	New	Mazor Robotics Ltd.cs	$255,000	–	4,600	–	0.17%	–
DRI	New	Darden Restaurantscs	$254,000	–	2,375	–	0.17%	–
TGT	New	Targetcs	$252,000	–	3,316	–	0.17%	–
SONY	New	Sony Corpcs	$243,000	–	4,731	–	0.16%	–
BNS	New	Bank of Nova Scotiacs	$240,000	–	4,200	–	0.16%	–
	New	Restaurant Brands NZ Ltdcs	$238,000	–	45,000	–	0.16%	–
EPAM	New	EPAM Systems Inccs	$236,000	–	1,900	–	0.16%	–
NEE	New	NextEra Energy Inc.cs	$234,000	–	1,400	–	0.16%	–
EL	New	Estee Laudercs	$235,000	–	1,650	–	0.16%	–
BRKL	New	Brookline Bancorpcs	$233,000	–	12,506	–	0.15%	–
WYND	New	Wyndham Destinationscs	$228,000	–	5,150	–	0.15%	–
LLY	New	Eli Lillycs	$226,000	–	2,650	–	0.15%	–
IBP	New	Installed Building Products Incs	$218,000	–	3,850	–	0.14%	–
CMCSA	New	Comcast Corp Cl Acs	$218,000	–	6,646	–	0.14%	–
ACN	New	Accenture Ltdcs	$213,000	–	1,300	–	0.14%	–
AZN	New	Astrazenecacs	$211,000	–	6,007	–	0.14%	–
NVS	New	Novartis AG ADScs	$210,000	–	2,780	–	0.14%	–
JPM	New	J.P. Morgan Chasecs	$208,000	–	1,996	–	0.14%	–
SHW	New	Sherwin-Williamscs	$204,000	–	500	–	0.14%	–
RDSA	New	Royal Dutchcs	$204,000	–	2,945	–	0.14%	–
NVDA	New	Nividiacs	$200,000	–	845	–	0.13%	–
	New	Westshore Terminals Investmencs	$183,000	–	10,120	–	0.12%	–
TELL	New	Telluriancs	$92,000	–	11,000	–	0.06%	–
	New	Kingmaker Footwear Holdingscs	$30,000	–	120,000	–	0.02%	–
	New	Huadian Power International Ccs	$16,000	–	40,000	–	0.01%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
	Exit	Huadian Power International Ccs	$0	–	-40,000	–	-0.01%	–
	Exit	Kingmaker Footwear Holdingscs	$0	–	-120,000	–	-0.03%	–
	Exit	NagaCorp Ltdcs	$0	–	-201,319	–	-0.09%	–
	Exit	Westshore Terminals Investmencs	$0	–	-10,120	–	-0.14%	–
KMI	Exit	Kinder Morgan Inccs	$0	–	-10,587	–	-0.15%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-1,400	–	-0.15%	–
CMCSA	Exit	Comcast Corp Cl Acs	$0	–	-5,458	–	-0.15%	–
BLK	Exit	Blackrockcs	$0	–	-475	–	-0.16%	–
FISV	Exit	Fiserv Inc.cs	$0	–	-1,638	–	-0.16%	–
RDSA	Exit	Royal Dutchcs	$0	–	-3,520	–	-0.16%	–
SONY	Exit	Sony Corpcs	$0	–	-5,700	–	-0.16%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-3,000	–	-0.16%	–
WMT	Exit	Wal-Mart Storescs	$0	–	-2,812	–	-0.16%	–
TGT	Exit	Targetcs	$0	–	-3,766	–	-0.16%	–
	Exit	Restaurant Brands NZ Ltdcs	$0	–	-45,000	–	-0.16%	–
NYCB	Exit	New York Community Bancorpcs	$0	–	-17,530	–	-0.17%	–
SNY	Exit	Sanofics	$0	–	-4,592	–	-0.17%	–
KEYS	Exit	Keysight Technologiescs	$0	–	-5,530	–	-0.17%	–
SHPG	Exit	Shire PLCcs	$0	–	-1,500	–	-0.17%	–
AMWD	Exit	American Woodmark Corporationcs	$0	–	-2,450	–	-0.17%	–
ELF	Exit	e.l.f. Beauty Inccs	$0	–	-10,900	–	-0.18%	–
DWDP	Exit	DowDuPont Inccs	$0	–	-3,661	–	-0.18%	–
BXMT	Exit	Blackstone Mortgage Trustcs	$0	–	-8,200	–	-0.19%	–
HSBCPRA	Exit	HSBC Holdings Pfd Acs	$0	–	-9,900	–	-0.19%	–
DHR	Exit	Danahercs	$0	–	-3,050	–	-0.19%	–
GD	Exit	General Dynamicscs	$0	–	-1,301	–	-0.20%	–
ALKS	Exit	Alkermes Plccs	$0	–	-5,350	–	-0.20%	–
AAWW	Exit	Atlas Air Worldwidecs	$0	–	-4,150	–	-0.20%	–
VMC	Exit	Vulcan Materialscs	$0	–	-2,400	–	-0.21%	–
JBLU	Exit	JetBlue Airwayscs	$0	–	-15,500	–	-0.21%	–
PDCO	Exit	Patterson Companiescs	$0	–	-7,400	–	-0.21%	–
FBHS	Exit	Fortune Brands & Home Securitycs	$0	–	-4,300	–	-0.21%	–
KSU	Exit	Kansas City So.cs	$0	–	-2,680	–	-0.21%	–
TRN	Exit	Trinity Industriescs	$0	–	-9,140	–	-0.21%	–
TEX	Exit	Terexcs	$0	–	-6,510	–	-0.22%	–
TXT	Exit	Textroncs	$0	–	-5,550	–	-0.22%	–
SBUX	Exit	Starbuckscs	$0	–	-5,600	–	-0.22%	–
WM	Exit	Waste Management Inc.cs	$0	–	-3,850	–	-0.22%	–
AXTA	Exit	Axalta Coating Systemscs	$0	–	-10,400	–	-0.22%	–
GWW	Exit	W.W. Grainger, Inccs	$0	–	-1,695	–	-0.22%	–
CFCPRBCL	Exit	Countrywide Capital V 7.00cs	$0	–	-12,000	–	-0.23%	–
PHM	Exit	Pultecs	$0	–	-11,425	–	-0.23%	–
ATVI	Exit	Activision Blizzardcs	$0	–	-5,000	–	-0.24%	–
WPC	Exit	W.P. Carey & Co.cs	$0	–	-4,959	–	-0.24%	–
GPS	Exit	The Gap Inc.cs	$0	–	-11,575	–	-0.25%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-356	–	-0.25%	–
BK	Exit	Bank of NY Melloncs	$0	–	-6,600	–	-0.26%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-4,376	–	-0.26%	–
EW	Exit	Edwards Lifesciencescs	$0	–	-3,350	–	-0.27%	–
BNS	Exit	Bank of Nova Scotiacs	$0	–	-5,700	–	-0.27%	–
LLY	Exit	Eli Lillycs	$0	–	-4,300	–	-0.27%	–
ETFC	Exit	ETRADE Financial Corpcs	$0	–	-8,695	–	-0.28%	–
ROL	Exit	Rollinscs	$0	–	-8,500	–	-0.29%	–
NOC	Exit	Northrop Grummancs	$0	–	-1,375	–	-0.29%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-9,906	–	-0.30%	–
A	Exit	Agilentcs	$0	–	-6,500	–	-0.31%	–
DVN	Exit	Devon Energycs	$0	–	-11,531	–	-0.31%	–
J	Exit	Jacobs Engineeringcs	$0	–	-7,356	–	-0.31%	–
MO	Exit	Altria Groupcs	$0	–	-6,964	–	-0.32%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-7,877	–	-0.37%	–
WY	Exit	Weyerhaeusercs	$0	–	-14,900	–	-0.37%	–
XPO	Exit	XPO Logistics Inccs	$0	–	-7,550	–	-0.38%	–
SYMC	Exit	Symanteccs	$0	–	-15,700	–	-0.38%	–
MCD	Exit	McDonald'scs	$0	–	-3,367	–	-0.39%	–
CP	Exit	Canadian Pacificcs	$0	–	-3,290	–	-0.40%	–
AZN	Exit	Astrazenecacs	$0	–	-16,807	–	-0.42%	–
KO	Exit	Coca-Colacs	$0	–	-13,193	–	-0.44%	–
T	Exit	A T & Tcs	$0	–	-15,255	–	-0.44%	–
POT	Exit	Potash Saskatchewancs	$0	–	-31,920	–	-0.45%	–
AMGN	Exit	Amgencs	$0	–	-3,302	–	-0.45%	–
XRAY	Exit	Dentsply Sirona Inccs	$0	–	-10,540	–	-0.46%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-16,950	–	-0.47%	–
HD	Exit	Home Depotcs	$0	–	-3,924	–	-0.47%	–
EL	Exit	Estee Laudercs	$0	–	-6,025	–	-0.48%	–
PRU	Exit	Prudential Financialcs	$0	–	-6,135	–	-0.48%	–
MHK	Exit	Mohawk Industriescs	$0	–	-2,700	–	-0.49%	–
NVS	Exit	Novartis AG ADScs	$0	–	-7,950	–	-0.50%	–
FTNT	Exit	Fortinetcs	$0	–	-19,575	–	-0.51%	–
COL	Exit	Rockwell Collinscs	$0	–	-5,575	–	-0.53%	–
UNP	Exit	Union Pacificcs	$0	–	-6,389	–	-0.54%	–
PEP	Exit	Pepsicocs	$0	–	-6,737	–	-0.55%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-23,527	–	-0.55%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-786	–	-0.55%	–
HQY	Exit	Healthequitycs	$0	–	-15,010	–	-0.56%	–
SNA	Exit	Snap-On Toolscs	$0	–	-5,136	–	-0.56%	–
WETF	Exit	WisdomTree Financialcs	$0	–	-76,250	–	-0.57%	–
SYY	Exit	Sysco Corpcs	$0	–	-14,740	–	-0.58%	–
GWR	Exit	Genesee and Wyomingcs	$0	–	-10,870	–	-0.59%	–
CLX	Exit	Clorox Companycs	$0	–	-6,150	–	-0.59%	–
K	Exit	Kelloggcs	$0	–	-13,160	–	-0.60%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-9,308	–	-0.61%	–
PWR	Exit	Quanta Servicescs	$0	–	-22,175	–	-0.61%	–
KEY	Exit	KeyCorpcs	$0	–	-45,095	–	-0.62%	–
UTX	Exit	United Technologiescs	$0	–	-7,348	–	-0.62%	–
SLB	Exit	Schlumbergercs	$0	–	-12,636	–	-0.65%	–
DAL	Exit	Delta Airlinescs	$0	–	-18,841	–	-0.67%	–
PG	Exit	Procter & Gamblecs	$0	–	-10,346	–	-0.69%	–
LPX	Exit	Louisiana Pacificcs	$0	–	-34,920	–	-0.69%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-6,787	–	-0.70%	–
VRSK	Exit	Verisk Analyticscs	$0	–	-11,700	–	-0.71%	–
ACM	Exit	AECOM Technology Corpcs	$0	–	-27,800	–	-0.75%	–
AGN	Exit	Allergancs	$0	–	-4,990	–	-0.75%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-5,750	–	-0.77%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-21,035	–	-0.80%	–
APD	Exit	Air Prod.& Chem.cs	$0	–	-7,325	–	-0.81%	–
AMN	Exit	AMN Healthcare Servicescs	$0	–	-25,307	–	-0.85%	–
EMR	Exit	Emerson Electriccs	$0	–	-18,620	–	-0.86%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-8,720	–	-0.89%	–
AVT	Exit	Avnetcs	$0	–	-30,875	–	-0.89%	–
EXPD	Exit	Expeditors International of Wacs	$0	–	-20,300	–	-0.89%	–
PYPL	Exit	PayPalcs	$0	–	-19,171	–	-0.90%	–
ABT	Exit	Abbott Labscs	$0	–	-23,502	–	-0.92%	–
PPG	Exit	PPG Industriescs	$0	–	-11,563	–	-0.92%	–
CR	Exit	Cranecs	$0	–	-15,800	–	-0.93%	–
MLM	Exit	Martin Marietta Materials, Inccs	$0	–	-6,200	–	-0.94%	–
DY	Exit	Dycom Industriescs	$0	–	-14,909	–	-0.94%	–
RF	Exit	Regions Financialcs	$0	–	-84,265	–	-0.94%	–
PGEM	Exit	Ply Gem Holdings Inccs	$0	–	-75,729	–	-0.95%	–
CSX	Exit	CSX Corpcs	$0	–	-24,473	–	-0.97%	–
MDT	Exit	Medtronic PLCcs	$0	–	-17,182	–	-0.98%	–
MMM	Exit	3M Corp.cs	$0	–	-6,392	–	-0.98%	–
ADI	Exit	Analog Devicescs	$0	–	-15,817	–	-1.00%	–
MSFT	Exit	Microsoftcs	$0	–	-18,465	–	-1.01%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-9,503	–	-1.01%	–
BA	Exit	Boeingcs	$0	–	-5,450	–	-1.02%	–
MXL	Exit	MaxLinear, Inc.cs	$0	–	-62,050	–	-1.08%	–
PNR	Exit	Pentaircs	$0	–	-21,750	–	-1.08%	–
GILD	Exit	Gilead Sciencescs	$0	–	-18,490	–	-1.10%	–
UPS	Exit	UPScs	$0	–	-12,475	–	-1.10%	–
COST	Exit	Costco Wholesalecs	$0	–	-9,250	–	-1.11%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-24,617	–	-1.15%	–
CELG	Exit	Celgenecs	$0	–	-10,834	–	-1.16%	–
CCL	Exit	Carnival Corp.-Cl Acs	$0	–	-24,550	–	-1.16%	–
BEN	Exit	Franklin Resourcescs	$0	–	-35,900	–	-1.17%	–
BBT	Exit	BB&Tcs	$0	–	-34,090	–	-1.17%	–
WFC	Exit	Wells Fargocs	$0	–	-30,110	–	-1.22%	–
MRK	Exit	Merckcs	$0	–	-26,015	–	-1.22%	–
ALK	Exit	Alaska Aircs	$0	–	-22,050	–	-1.23%	–
AAPL	Exit	Apple Computercs	$0	–	-11,274	–	-1.27%	–
AB	Exit	AllianceBernstein Holdingscs	$0	–	-74,778	–	-1.33%	–
DIS	Exit	Walt Disneycs	$0	–	-18,654	–	-1.35%	–
ZTS	Exit	Zoetis Inccs	$0	–	-30,418	–	-1.42%	–
INDB	Exit	Independent Bankcs	$0	–	-26,265	–	-1.44%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-31,034	–	-1.50%	–
INTC	Exit	Intelcs	$0	–	-56,985	–	-1.59%	–
XOM	Exit	Exxon Mobilcs	$0	–	-27,298	–	-1.64%	–
GE	Exit	General Electriccs	$0	–	-95,184	–	-1.69%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-20,038	–	-1.73%	–
CSCO	Exit	Cisco Systemscs	$0	–	-70,225	–	-1.73%	–
PFE	Exit	Pfizercs	$0	–	-69,123	–	-1.81%	–
WASH	Exit	Washington Trustcs	$0	–	-73,859	–	-3.10%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-32,592	–	-3.10%	–
CHD	Exit	Church and Dwightcs	$0	–	-109,600	–	-3.89%	–

Q3 2017

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$5,310,000	-10.0%	109,600	-3.6%	3.89%	-10.9%
JNJ	Sell	Johnson & Johnsoncs	$4,237,000	-1.8%	32,592	-0.1%	3.10%	-2.8%
WASH	Buy	Washington Trustcs	$4,228,000	+12.7%	73,859	+1.4%	3.10%	+11.6%
PFE	Sell	Pfizercs	$2,468,000	+4.6%	69,123	-1.6%	1.81%	+3.6%
CSCO	Buy	Cisco Systemscs	$2,362,000	+13.7%	70,225	+5.8%	1.73%	+12.5%
KMB	Sell	Kimberly Clarkcs	$2,358,000	-9.3%	20,038	-0.5%	1.73%	-10.2%
GE	Sell	General Electriccs	$2,302,000	-21.0%	95,184	-11.7%	1.69%	-21.7%
INTC	Sell	Intelcs	$2,170,000	+12.8%	56,985	-0.1%	1.59%	+11.7%
PB	Sell	Prosperity Bancshares, Inc.cs	$2,040,000	-1.2%	31,034	-3.4%	1.50%	-2.2%
INDB	Sell	Independent Bankcs	$1,961,000	+2.2%	26,265	-8.8%	1.44%	+1.2%
ZTS	Buy	Zoetis Inccs	$1,939,000	+5.3%	30,418	+3.0%	1.42%	+4.3%
DIS	Buy	Walt Disneycs	$1,839,000	+11.1%	18,654	+19.7%	1.35%	+10.0%
AB	Buy	AllianceBernstein Holdingscs	$1,817,000	+5.9%	74,778	+3.1%	1.33%	+4.9%
AAPL	Buy	Apple Computercs	$1,738,000	+13.2%	11,274	+5.8%	1.27%	+12.1%
ALK	Buy	Alaska Aircs	$1,682,000	+54.6%	22,050	+81.9%	1.23%	+53.0%
MRK	Buy	Merckcs	$1,666,000	+86.1%	26,015	+86.3%	1.22%	+84.4%
WFC	Sell	Wells Fargocs	$1,661,000	-4.7%	30,110	-4.3%	1.22%	-5.7%
BBT	Sell	BB&Tcs	$1,600,000	-7.1%	34,090	-10.1%	1.17%	-8.1%
BEN	Buy	Franklin Resourcescs	$1,598,000	+37.8%	35,900	+38.6%	1.17%	+36.5%
CCL	Buy	Carnival Corp.-Cl Acs	$1,585,000	+101.4%	24,550	+104.6%	1.16%	+99.5%
CELG	Sell	Celgenecs	$1,580,000	+8.8%	10,834	-3.1%	1.16%	+7.8%
BMY	Sell	Bristol Myers Squibbcs	$1,569,000	-2.5%	24,617	-14.8%	1.15%	-3.4%
COST	Buy	Costco Wholesalecs	$1,520,000	+13.2%	9,250	+10.1%	1.11%	+12.1%
UPS	Sell	UPScs	$1,498,000	+6.7%	12,475	-1.7%	1.10%	+5.7%
GILD	Buy	Gilead Sciencescs	$1,498,000	+28.7%	18,490	+12.5%	1.10%	+27.5%
PNR	Sell	Pentaircs	$1,478,000	+1.8%	21,750	-0.3%	1.08%	+0.8%
MXL	Buy	MaxLinear, Inc.cs	$1,474,000	+91.2%	62,050	+124.4%	1.08%	+89.5%
BA	Sell	Boeingcs	$1,385,000	+14.4%	5,450	-11.0%	1.02%	+13.3%
IBM	Sell	Int'l Bus. Mach.cs	$1,379,000	-9.0%	9,503	-3.6%	1.01%	-10.0%
MSFT	Buy	Microsoftcs	$1,375,000	+11.1%	18,465	+2.8%	1.01%	+10.0%
ADI	Sell	Analog Devicescs	$1,363,000	-7.9%	15,817	-16.8%	1.00%	-8.8%
MDT	New	Medtronic PLCcs	$1,336,000	–	17,182	–	0.98%	–
CSX	Sell	CSX Corpcs	$1,328,000	-5.2%	24,473	-4.7%	0.97%	-6.2%
PGEM	Buy	Ply Gem Holdings Inccs	$1,291,000	+32.0%	75,729	+39.1%	0.95%	+30.7%
RF	Buy	Regions Financialcs	$1,283,000	+13.7%	84,265	+9.3%	0.94%	+12.6%
DY	Buy	Dycom Industriescs	$1,280,000	+49.0%	14,909	+55.3%	0.94%	+47.5%
MLM	New	Martin Marietta Materials, Inccs	$1,279,000	–	6,200	–	0.94%	–
CR	Buy	Cranecs	$1,264,000	+88.4%	15,800	+87.0%	0.93%	+86.3%
PPG	Buy	PPG Industriescs	$1,256,000	+17.5%	11,563	+18.9%	0.92%	+16.3%
ABT	Sell	Abbott Labscs	$1,254,000	+4.9%	23,502	-4.4%	0.92%	+4.0%
PYPL	Sell	PayPalcs	$1,228,000	+5.9%	19,171	-11.3%	0.90%	+4.9%
EXPD	New	Expeditors International of Wacs	$1,215,000	–	20,300	–	0.89%	–
AVT	Sell	Avnetcs	$1,213,000	-11.1%	30,875	-12.0%	0.89%	-11.9%
URI	Sell	United Rentals, Inc.cs	$1,210,000	+6.9%	8,720	-13.2%	0.89%	+5.8%
EMR	Buy	Emerson Electriccs	$1,170,000	+6.9%	18,620	+1.5%	0.86%	+5.8%
AMN	Buy	AMN Healthcare Servicescs	$1,157,000	+66.7%	25,307	+42.4%	0.85%	+65.0%
APD	Sell	Air Prod.& Chem.cs	$1,108,000	-8.9%	7,325	-13.8%	0.81%	-9.8%
NKE	Sell	Nike Inc Class Bcs	$1,091,000	-25.2%	21,035	-14.9%	0.80%	-26.0%
BRKB	Sell	Berkshire Hathaway Bcs	$1,054,000	+1.2%	5,750	-6.5%	0.77%	+0.1%
AGN	Buy	Allergancs	$1,023,000	-5.5%	4,990	+12.1%	0.75%	-6.4%
ACM	Buy	AECOM Technology Corpcs	$1,023,000	+22.7%	27,800	+7.8%	0.75%	+21.6%
VRSK	Buy	Verisk Analyticscs	$973,000	+82.9%	11,700	+85.7%	0.71%	+81.0%
HON	Sell	Honeywell Int'l.cs	$962,000	-1.6%	6,787	-7.5%	0.70%	-2.6%
LPX	New	Louisiana Pacificcs	$946,000	–	34,920	–	0.69%	–
PG	Buy	Procter & Gamblecs	$941,000	+5.1%	10,346	+0.7%	0.69%	+4.2%
DAL	Buy	Delta Airlinescs	$909,000	+158.2%	18,841	+187.6%	0.67%	+156.2%
SLB	Sell	Schlumbergercs	$881,000	+5.5%	12,636	-0.4%	0.65%	+4.5%
UTX	Buy	United Technologiescs	$853,000	+1.1%	7,348	+6.3%	0.62%	0.0%
KEY	Buy	KeyCorpcs	$849,000	+54.6%	45,095	+53.9%	0.62%	+53.2%
PWR	Buy	Quanta Servicescs	$829,000	+25.6%	22,175	+10.6%	0.61%	+24.4%
ABBV	Buy	AbbVie Inc.cs	$827,000	+147.6%	9,308	+102.0%	0.61%	+145.3%
CLX	Sell	Clorox Companycs	$811,000	-3.3%	6,150	-2.4%	0.59%	-4.3%
GWR	New	Genesee and Wyomingcs	$804,000	–	10,870	–	0.59%	–
SYY	Sell	Sysco Corpcs	$795,000	+2.6%	14,740	-4.2%	0.58%	+1.7%
WETF	Buy	WisdomTree Financialcs	$776,000	+5.3%	76,250	+5.2%	0.57%	+4.4%
SNA	Sell	Snap-On Toolscs	$765,000	-24.5%	5,136	-19.9%	0.56%	-25.2%
HQY	Buy	Healthequitycs	$759,000	+112.6%	15,010	+109.6%	0.56%	+110.6%
GOOG	Buy	Alphabet Inc Class Ccs	$754,000	+6.0%	786	+0.5%	0.55%	+4.9%
RHHBY	Buy	Roche Holdings Ltdcs	$753,000	+4.6%	23,527	+4.0%	0.55%	+3.6%
PEP	Sell	Pepsicocs	$751,000	-7.3%	6,737	-3.9%	0.55%	-8.2%
UNP	Sell	Union Pacificcs	$741,000	+3.2%	6,389	-3.0%	0.54%	+2.3%
COL	Sell	Rockwell Collinscs	$729,000	+15.2%	5,575	-7.5%	0.53%	+14.1%
FTNT	Sell	Fortinetcs	$702,000	-12.7%	19,575	-8.8%	0.51%	-13.6%
NVS	Sell	Novartis AG ADScs	$683,000	-46.3%	7,950	-47.9%	0.50%	-46.9%
MHK	Sell	Mohawk Industriescs	$668,000	-2.2%	2,700	-4.4%	0.49%	-3.2%
PRU	New	Prudential Financialcs	$652,000	–	6,135	–	0.48%	–
EL	Sell	Estee Laudercs	$650,000	-1.5%	6,025	-12.4%	0.48%	-2.5%
CFG	Sell	Citizens Financial Groupcs	$642,000	-12.4%	16,950	-17.5%	0.47%	-13.3%
HD	Buy	Home Depotcs	$642,000	+51.4%	3,924	+41.9%	0.47%	+49.7%
XRAY	New	Dentsply Sirona Inccs	$630,000	–	10,540	–	0.46%	–
AMGN	Sell	Amgencs	$616,000	-60.0%	3,302	-63.1%	0.45%	-60.4%
POT	Sell	Potash Saskatchewancs	$614,000	+6.4%	31,920	-9.8%	0.45%	+5.4%
T	Buy	A T & Tcs	$598,000	+8.1%	15,255	+4.1%	0.44%	+7.1%
AZN	Buy	Astrazenecacs	$569,000	+133.2%	16,807	+135.1%	0.42%	+130.4%
CP	Sell	Canadian Pacificcs	$553,000	+3.0%	3,290	-1.5%	0.40%	+2.0%
MCD	Sell	McDonald'scs	$528,000	-6.0%	3,367	-8.2%	0.39%	-7.0%
SYMC	Buy	Symanteccs	$515,000	+49.3%	15,700	+28.7%	0.38%	+47.8%
XPO	New	XPO Logistics Inccs	$512,000	–	7,550	–	0.38%	–
WY	Buy	Weyerhaeusercs	$507,000	+11.7%	14,900	+10.0%	0.37%	+10.4%
MO	Sell	Altria Groupcs	$442,000	-19.9%	6,964	-6.1%	0.32%	-20.6%
J	Sell	Jacobs Engineeringcs	$429,000	-60.1%	7,356	-62.8%	0.31%	-60.5%
DVN	Sell	Devon Energycs	$423,000	-38.4%	11,531	-46.3%	0.31%	-39.0%
A	Sell	Agilentcs	$417,000	+5.0%	6,500	-3.0%	0.31%	+4.1%
GSK	Sell	GlaxoSmithKlinecs	$402,000	-7.4%	9,906	-1.5%	0.30%	-8.1%
ROL	Buy	Rollinscs	$392,000	+25.2%	8,500	+10.4%	0.29%	+23.7%
ETFC	New	ETRADE Financial Corpcs	$379,000	–	8,695	–	0.28%	–
EW	New	Edwards Lifesciencescs	$366,000	–	3,350	–	0.27%	–
GOOGL	Buy	Alphabet Inc Class Acs	$347,000	+20.9%	356	+15.2%	0.25%	+19.8%
GPS	Sell	The Gap Inc.cs	$342,000	+26.7%	11,575	-5.7%	0.25%	+25.5%
WPC	Sell	W.P. Carey & Co.cs	$334,000	-12.1%	4,959	-13.9%	0.24%	-12.8%
ATVI	New	Activision Blizzardcs	$323,000	–	5,000	–	0.24%	–
CFCPRBCL	New	Countrywide Capital V 7.00cs	$312,000	–	12,000	–	0.23%	–
PHM	Sell	Pultecs	$312,000	-44.2%	11,425	-49.8%	0.23%	-44.7%
GWW	Sell	W.W. Grainger, Inccs	$305,000	-23.0%	1,695	-22.8%	0.22%	-23.9%
SBUX	Sell	Starbuckscs	$301,000	-16.9%	5,600	-9.7%	0.22%	-17.5%
AXTA	New	Axalta Coating Systemscs	$301,000	–	10,400	–	0.22%	–
TXT	New	Textroncs	$299,000	–	5,550	–	0.22%	–
TEX	Sell	Terexcs	$293,000	+6.9%	6,510	-10.9%	0.22%	+5.9%
TRN	Sell	Trinity Industriescs	$292,000	-73.2%	9,140	-76.5%	0.21%	-73.4%
KSU	New	Kansas City So.cs	$291,000	–	2,680	–	0.21%	–
FBHS	New	Fortune Brands & Home Securitycs	$289,000	–	4,300	–	0.21%	–
JBLU	New	JetBlue Airwayscs	$287,000	–	15,500	–	0.21%	–
VMC	New	Vulcan Materialscs	$287,000	–	2,400	–	0.21%	–
PDCO	Sell	Patterson Companiescs	$286,000	-63.2%	7,400	-55.3%	0.21%	-63.5%
AAWW	New	Atlas Air Worldwidecs	$273,000	–	4,150	–	0.20%	–
ALKS	New	Alkermes Plccs	$272,000	–	5,350	–	0.20%	–
DHR	New	Danahercs	$262,000	–	3,050	–	0.19%	–
HSBCPRA	Sell	HSBC Holdings Pfd Acs	$261,000	-0.8%	9,900	-0.5%	0.19%	-2.1%
BXMT	Buy	Blackstone Mortgage Trustcs	$254,000	+14.9%	8,200	+17.1%	0.19%	+13.4%
DWDP	New	DowDuPont Inccs	$253,000	–	3,661	–	0.18%	–
ELF	New	e.l.f. Beauty Inccs	$246,000	–	10,900	–	0.18%	–
AMWD	New	American Woodmark Corporationcs	$236,000	–	2,450	–	0.17%	–
SHPG	New	Shire PLCcs	$230,000	–	1,500	–	0.17%	–
KEYS	Sell	Keysight Technologiescs	$230,000	+3.6%	5,530	-3.0%	0.17%	+3.0%
NYCB	Sell	New York Community Bancorpcs	$226,000	-27.1%	17,530	-25.7%	0.17%	-27.5%
TGT	Sell	Targetcs	$222,000	-1.8%	3,766	-12.7%	0.16%	-2.4%
	New	Restaurant Brands NZ Ltdcs	$222,000	–	45,000	–	0.16%	–
WMT	Sell	Wal-Mart Storescs	$220,000	-33.7%	2,812	-35.9%	0.16%	-34.6%
SONY	New	Sony Corpcs	$213,000	–	5,700	–	0.16%	–
RDSA	New	Royal Dutchcs	$213,000	–	3,520	–	0.16%	–
BLK	New	Blackrockcs	$212,000	–	475	–	0.16%	–
NEE	New	NextEra Energy Inc.cs	$205,000	–	1,400	–	0.15%	–
KMI	Sell	Kinder Morgan Inccs	$203,000	-14.0%	10,587	-14.2%	0.15%	-14.9%
	New	Westshore Terminals Investmencs	$194,000	–	10,120	–	0.14%	–
	New	NagaCorp Ltdcs	$123,000	–	201,319	–	0.09%	–
	New	Kingmaker Footwear Holdingscs	$40,000	–	120,000	–	0.03%	–
	New	Huadian Power International Ccs	$16,000	–	40,000	–	0.01%	–
DOW	Exit	Dow Chemicalcs	$0	–	-3,200	–	-0.15%	–
JWN	Exit	Nordstromcs	$0	–	-4,275	–	-0.15%	–
PX	Exit	Praxaircs	$0	–	-1,625	–	-0.16%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-2,705	–	-0.16%	–
FB	Exit	Facebook Inccs	$0	–	-1,485	–	-0.17%	–
MWA	Exit	Mueller Water Productscs	$0	–	-19,230	–	-0.17%	–
CTB	Exit	Cooper Tire & Rubbercs	$0	–	-6,280	–	-0.17%	–
GS	Exit	Goldman Sachscs	$0	–	-1,050	–	-0.17%	–
FLIR	Exit	FLIR Systems Inc.cs	$0	–	-7,175	–	-0.18%	–
CASY	Exit	Casey's General Storescs	$0	–	-2,600	–	-0.21%	–
WFM	Exit	Whole Foodscs	$0	–	-6,600	–	-0.21%	–
WOOF	Exit	VCA Inccs	$0	–	-3,200	–	-0.22%	–
MYL	Exit	Mylan Labscs	$0	–	-7,900	–	-0.23%	–
FAST	Exit	Fastenalcs	$0	–	-7,750	–	-0.25%	–
SQM	Exit	Sociedad Quimica y Mineracs	$0	–	-10,400	–	-0.25%	–
CME	Exit	CME Groupcs	$0	–	-2,895	–	-0.27%	–
AAL	Exit	American Airlines Group Inc.cs	$0	–	-7,300	–	-0.27%	–
C	Exit	Citigroupcs	$0	–	-6,177	–	-0.31%	–
COG	Exit	Cabot Oil & Gascs	$0	–	-17,000	–	-0.32%	–
ANIK	Exit	Anika Therapeuticscs	$0	–	-8,795	–	-0.32%	–
INGR	Exit	Ingredioncs	$0	–	-3,650	–	-0.32%	–
PFSI	Exit	PennyMac Financial Servicescs	$0	–	-27,760	–	-0.34%	–
VSAT	Exit	ViaSat, Inc.cs	$0	–	-7,350	–	-0.36%	–
HDS	Exit	HD Supply Holdings Inccs	$0	–	-16,400	–	-0.37%	–
IBP	Exit	Installed Building Products Incs	$0	–	-9,801	–	-0.38%	–
AKAM	Exit	Akamai Technologiescs	$0	–	-10,775	–	-0.40%	–
CF	Exit	CF Industriescs	$0	–	-20,350	–	-0.42%	–
ATI	Exit	Allegheny Technologiescs	$0	–	-43,930	–	-0.55%	–
DISCA	Exit	Discovery Communicationscs	$0	–	-32,340	–	-0.62%	–
LOW	Exit	Lowescs	$0	–	-11,000	–	-0.63%	–
TD	Exit	Toronto-Dominion Bankcs	$0	–	-18,125	–	-0.68%	–
MS	Exit	Morgan Stanleycs	$0	–	-25,414	–	-0.84%	–
NSC	Exit	Norfolk Southerncs	$0	–	-10,247	–	-0.92%	–
PRXL	Exit	Parexel International Corpcs	$0	–	-24,670	–	-1.59%	–

Q2 2017

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,899,000	–	113,700	–	4.36%	–
JNJ	New	Johnson & Johnsoncs	$4,315,000	–	32,615	–	3.19%	–
WASH	New	Washington Trustcs	$3,753,000	–	72,809	–	2.78%	–
GE	New	General Electriccs	$2,913,000	–	107,842	–	2.16%	–
KMB	New	Kimberly Clarkcs	$2,600,000	–	20,138	–	1.92%	–
PFE	New	Pfizercs	$2,360,000	–	70,251	–	1.75%	–
XOM	New	Exxon Mobilcs	$2,204,000	–	27,298	–	1.63%	–
PRXL	New	Parexel International Corpcs	$2,144,000	–	24,670	–	1.59%	–
CSCO	New	Cisco Systemscs	$2,078,000	–	66,397	–	1.54%	–
PB	New	Prosperity Bancshares, Inc.cs	$2,065,000	–	32,140	–	1.53%	–
INTC	New	Intelcs	$1,924,000	–	57,019	–	1.42%	–
INDB	New	Independent Bankcs	$1,919,000	–	28,790	–	1.42%	–
ZTS	New	Zoetis Inccs	$1,841,000	–	29,518	–	1.36%	–
WFC	New	Wells Fargocs	$1,743,000	–	31,460	–	1.29%	–
BBT	New	BB&Tcs	$1,723,000	–	37,940	–	1.28%	–
AB	New	AllianceBernstein Holdingscs	$1,715,000	–	72,528	–	1.27%	–
DIS	New	Walt Disneycs	$1,655,000	–	15,579	–	1.22%	–
BMY	New	Bristol Myers Squibbcs	$1,610,000	–	28,892	–	1.19%	–
AMGN	New	Amgencs	$1,541,000	–	8,945	–	1.14%	–
AAPL	New	Apple Computercs	$1,535,000	–	10,656	–	1.14%	–
IBM	New	Int'l Bus. Mach.cs	$1,516,000	–	9,853	–	1.12%	–
ADI	New	Analog Devicescs	$1,480,000	–	19,017	–	1.10%	–
NKE	New	Nike Inc Class Bcs	$1,459,000	–	24,725	–	1.08%	–
PNR	New	Pentaircs	$1,452,000	–	21,825	–	1.07%	–
CELG	New	Celgenecs	$1,452,000	–	11,184	–	1.07%	–
UPS	New	UPScs	$1,404,000	–	12,695	–	1.04%	–
CSX	New	CSX Corpcs	$1,401,000	–	25,673	–	1.04%	–
AVT	New	Avnetcs	$1,364,000	–	35,075	–	1.01%	–
COST	New	Costco Wholesalecs	$1,343,000	–	8,400	–	0.99%	–
MMM	New	3M Corp.cs	$1,331,000	–	6,392	–	0.98%	–
NVS	New	Novartis AG ADScs	$1,273,000	–	15,250	–	0.94%	–
NSC	New	Norfolk Southerncs	$1,247,000	–	10,247	–	0.92%	–
MSFT	New	Microsoftcs	$1,238,000	–	17,954	–	0.92%	–
APD	New	Air Prod.& Chem.cs	$1,216,000	–	8,500	–	0.90%	–
BA	New	Boeingcs	$1,211,000	–	6,125	–	0.90%	–
ABT	New	Abbott Labscs	$1,195,000	–	24,577	–	0.88%	–
GILD	New	Gilead Sciencescs	$1,164,000	–	16,440	–	0.86%	–
PYPL	New	PayPalcs	$1,160,000	–	21,621	–	0.86%	–
BEN	New	Franklin Resourcescs	$1,160,000	–	25,900	–	0.86%	–
MS	New	Morgan Stanleycs	$1,132,000	–	25,414	–	0.84%	–
URI	New	United Rentals, Inc.cs	$1,132,000	–	10,045	–	0.84%	–
RF	New	Regions Financialcs	$1,128,000	–	77,065	–	0.84%	–
EMR	New	Emerson Electriccs	$1,094,000	–	18,345	–	0.81%	–
TRN	New	Trinity Industriescs	$1,088,000	–	38,815	–	0.80%	–
ALK	New	Alaska Aircs	$1,088,000	–	12,125	–	0.80%	–
AGN	New	Allergancs	$1,082,000	–	4,450	–	0.80%	–
J	New	Jacobs Engineeringcs	$1,074,000	–	19,750	–	0.80%	–
PPG	New	PPG Industriescs	$1,069,000	–	9,725	–	0.79%	–
BRKB	New	Berkshire Hathaway Bcs	$1,042,000	–	6,150	–	0.77%	–
SNA	New	Snap-On Toolscs	$1,013,000	–	6,411	–	0.75%	–
HON	New	Honeywell Int'l.cs	$978,000	–	7,337	–	0.72%	–
PGEM	New	Ply Gem Holdings Inccs	$978,000	–	54,458	–	0.72%	–
TD	New	Toronto-Dominion Bankcs	$913,000	–	18,125	–	0.68%	–
K	New	Kelloggcs	$914,000	–	13,160	–	0.68%	–
PG	New	Procter & Gamblecs	$895,000	–	10,271	–	0.66%	–
MRK	New	Merckcs	$895,000	–	13,965	–	0.66%	–
DY	New	Dycom Industriescs	$859,000	–	9,600	–	0.64%	–
LOW	New	Lowescs	$853,000	–	11,000	–	0.63%	–
UTX	New	United Technologiescs	$844,000	–	6,913	–	0.62%	–
CLX	New	Clorox Companycs	$839,000	–	6,300	–	0.62%	–
SLB	New	Schlumbergercs	$835,000	–	12,686	–	0.62%	–
DISCA	New	Discovery Communicationscs	$835,000	–	32,340	–	0.62%	–
ACM	New	AECOM Technology Corpcs	$834,000	–	25,800	–	0.62%	–
PEP	New	Pepsicocs	$810,000	–	7,010	–	0.60%	–
FTNT	New	Fortinetcs	$804,000	–	21,475	–	0.60%	–
CCL	New	Carnival Corp.-Cl Acs	$787,000	–	12,000	–	0.58%	–
PDCO	New	Patterson Companiescs	$778,000	–	16,568	–	0.58%	–
SYY	New	Sysco Corpcs	$775,000	–	15,390	–	0.57%	–
MXL	New	MaxLinear, Inc.cs	$771,000	–	27,650	–	0.57%	–
ATI	New	Allegheny Technologiescs	$747,000	–	43,930	–	0.55%	–
WETF	New	WisdomTree Financialcs	$737,000	–	72,450	–	0.54%	–
CFG	New	Citizens Financial Groupcs	$733,000	–	20,550	–	0.54%	–
RHHBY	New	Roche Holdings Ltdcs	$720,000	–	22,627	–	0.53%	–
UNP	New	Union Pacificcs	$718,000	–	6,589	–	0.53%	–
GOOG	New	Alphabet Inc Class Ccs	$711,000	–	782	–	0.53%	–
AMN	New	AMN Healthcare Servicescs	$694,000	–	17,778	–	0.51%	–
DVN	New	Devon Energycs	$687,000	–	21,481	–	0.51%	–
MHK	New	Mohawk Industriescs	$683,000	–	2,825	–	0.50%	–
CR	New	Cranecs	$671,000	–	8,450	–	0.50%	–
PWR	New	Quanta Servicescs	$660,000	–	20,050	–	0.49%	–
EL	New	Estee Laudercs	$660,000	–	6,875	–	0.49%	–
COL	New	Rockwell Collinscs	$633,000	–	6,025	–	0.47%	–
KO	New	Coca-Colacs	$592,000	–	13,193	–	0.44%	–
POT	New	Potash Saskatchewancs	$577,000	–	35,370	–	0.43%	–
CF	New	CF Industriescs	$569,000	–	20,350	–	0.42%	–
MCD	New	McDonald'scs	$562,000	–	3,667	–	0.42%	–
PHM	New	Pultecs	$559,000	–	22,780	–	0.41%	–
T	New	A T & Tcs	$553,000	–	14,655	–	0.41%	–
MO	New	Altria Groupcs	$552,000	–	7,414	–	0.41%	–
KEY	New	KeyCorpcs	$549,000	–	29,295	–	0.41%	–
AKAM	New	Akamai Technologiescs	$537,000	–	10,775	–	0.40%	–
CP	New	Canadian Pacificcs	$537,000	–	3,340	–	0.40%	–
VRSK	New	Verisk Analyticscs	$532,000	–	6,300	–	0.39%	–
IBP	New	Installed Building Products Incs	$519,000	–	9,801	–	0.38%	–
HDS	New	HD Supply Holdings Inccs	$502,000	–	16,400	–	0.37%	–
QSR	New	Restaurant Brands Int'lcs	$493,000	–	7,877	–	0.36%	–
VSAT	New	ViaSat, Inc.cs	$487,000	–	7,350	–	0.36%	–
PFSI	New	PennyMac Financial Servicescs	$464,000	–	27,760	–	0.34%	–
WY	New	Weyerhaeusercs	$454,000	–	13,550	–	0.34%	–
INGR	New	Ingredioncs	$435,000	–	3,650	–	0.32%	–
ANIK	New	Anika Therapeuticscs	$434,000	–	8,795	–	0.32%	–
GSK	New	GlaxoSmithKlinecs	$434,000	–	10,056	–	0.32%	–
COG	New	Cabot Oil & Gascs	$426,000	–	17,000	–	0.32%	–
HD	New	Home Depotcs	$424,000	–	2,766	–	0.31%	–
C	New	Citigroupcs	$413,000	–	6,177	–	0.31%	–
A	New	Agilentcs	$397,000	–	6,700	–	0.29%	–
GWW	New	W.W. Grainger, Inccs	$396,000	–	2,195	–	0.29%	–
WPC	New	W.P. Carey & Co.cs	$380,000	–	5,759	–	0.28%	–
AAL	New	American Airlines Group Inc.cs	$367,000	–	7,300	–	0.27%	–
CME	New	CME Groupcs	$363,000	–	2,895	–	0.27%	–
SBUX	New	Starbuckscs	$362,000	–	6,200	–	0.27%	–
HQY	New	Healthequitycs	$357,000	–	7,160	–	0.26%	–
LLY	New	Eli Lillycs	$354,000	–	4,300	–	0.26%	–
NOC	New	Northrop Grummancs	$353,000	–	1,375	–	0.26%	–
DAL	New	Delta Airlinescs	$352,000	–	6,550	–	0.26%	–
SYMC	New	Symanteccs	$345,000	–	12,200	–	0.26%	–
BNS	New	Bank of Nova Scotiacs	$343,000	–	5,700	–	0.25%	–
SQM	New	Sociedad Quimica y Mineracs	$343,000	–	10,400	–	0.25%	–
BK	New	Bank of NY Melloncs	$337,000	–	6,600	–	0.25%	–
FAST	New	Fastenalcs	$337,000	–	7,750	–	0.25%	–
ABBV	New	AbbVie Inc.cs	$334,000	–	4,608	–	0.25%	–
WMT	New	Wal-Mart Storescs	$332,000	–	4,387	–	0.25%	–
ROL	New	Rollinscs	$313,000	–	7,700	–	0.23%	–
NYCB	New	New York Community Bancorpcs	$310,000	–	23,600	–	0.23%	–
MYL	New	Mylan Labscs	$307,000	–	7,900	–	0.23%	–
WOOF	New	VCA Inccs	$295,000	–	3,200	–	0.22%	–
GOOGL	New	Alphabet Inc Class Acs	$287,000	–	309	–	0.21%	–
WM	New	Waste Management Inc.cs	$282,000	–	3,850	–	0.21%	–
WFM	New	Whole Foodscs	$278,000	–	6,600	–	0.21%	–
CASY	New	Casey's General Storescs	$278,000	–	2,600	–	0.21%	–
CNBKA	New	Century Bancorpcs	$278,000	–	4,376	–	0.21%	–
TEX	New	Terexcs	$274,000	–	7,310	–	0.20%	–
GPS	New	The Gap Inc.cs	$270,000	–	12,275	–	0.20%	–
HSBCPRA	New	HSBC Holdings Pfd Acs	$263,000	–	9,950	–	0.20%	–
GD	New	General Dynamicscs	$258,000	–	1,301	–	0.19%	–
FLIR	New	FLIR Systems Inc.cs	$249,000	–	7,175	–	0.18%	–
AZN	New	Astrazenecacs	$244,000	–	7,150	–	0.18%	–
KMI	New	Kinder Morgan Inccs	$236,000	–	12,337	–	0.18%	–
GS	New	Goldman Sachscs	$233,000	–	1,050	–	0.17%	–
CTB	New	Cooper Tire & Rubbercs	$227,000	–	6,280	–	0.17%	–
TGT	New	Targetcs	$226,000	–	4,316	–	0.17%	–
MWA	New	Mueller Water Productscs	$225,000	–	19,230	–	0.17%	–
FB	New	Facebook Inccs	$224,000	–	1,485	–	0.17%	–
KEYS	New	Keysight Technologiescs	$222,000	–	5,700	–	0.16%	–
CL	New	Colgate-Palmolivecs	$222,000	–	3,000	–	0.16%	–
BXMT	New	Blackstone Mortgage Trustcs	$221,000	–	7,000	–	0.16%	–
SNY	New	Sanofics	$220,000	–	4,592	–	0.16%	–
CVS	New	C.V.S. Caremarkcs	$218,000	–	2,705	–	0.16%	–
PX	New	Praxaircs	$215,000	–	1,625	–	0.16%	–
CMCSA	New	Comcast Corp Cl Acs	$212,000	–	5,458	–	0.16%	–
JWN	New	Nordstromcs	$204,000	–	4,275	–	0.15%	–
DOW	New	Dow Chemicalcs	$202,000	–	3,200	–	0.15%	–
FISV	New	Fiserv Inc.cs	$200,000	–	1,638	–	0.15%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
	Exit	*Huadian Power International Ccs	$0	–	-40,000	–	-0.02%	–
	Exit	Kingmaker Footwear Holdingscs	$0	–	-120,000	–	-0.02%	–
	Exit	NagaCorp Ltdcs	$0	–	-201,319	–	-0.11%	–
KEY	Exit	KeyCorpcs	$0	–	-14,300	–	-0.15%	–
	Exit	*Westshore Terminals Investmencs	$0	–	-10,120	–	-0.15%	–
	Exit	Restaurant Brands NZ Ltdcs	$0	–	-45,000	–	-0.16%	–
AZN	Exit	Astrazenecacs	$0	–	-6,225	–	-0.17%	–
NYCB	Exit	New York Community Bancorpcs	$0	–	-14,650	–	-0.17%	–
AWR	Exit	American States Watercs	$0	–	-5,300	–	-0.18%	–
HSIC	Exit	Henry Schein, Inccs	$0	–	-1,300	–	-0.18%	–
HES	Exit	Hess Corporationcs	$0	–	-4,000	–	-0.18%	–
WMT	Exit	Wal-Mart Storescs	$0	–	-3,137	–	-0.19%	–
BX	Exit	Blackstone Groupcs	$0	–	-9,050	–	-0.19%	–
TRN	Exit	Trinity Industriescs	$0	–	-9,665	–	-0.20%	–
ACC	Exit	American Campus Communitiescs	$0	–	-4,650	–	-0.20%	–
WWAV	Exit	WhiteWave Foodscs	$0	–	-4,400	–	-0.20%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-5,301	–	-0.20%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-3,808	–	-0.20%	–
CFG	Exit	Citizens Financial Groupcs	$0	–	-9,850	–	-0.20%	–
GIL	Exit	Gildan Activewearcs	$0	–	-8,700	–	-0.20%	–
MXL	Exit	MaxLinear, Inc.cs	$0	–	-12,577	–	-0.21%	–
VZ	Exit	Verizon Comm.cs	$0	–	-4,983	–	-0.22%	–
RDN	Exit	Radiancs	$0	–	-19,350	–	-0.22%	–
TYL	Exit	Tyler Techcs	$0	–	-1,550	–	-0.22%	–
HSBCPRA	Exit	HSBC Holdings Pfd Acs	$0	–	-10,350	–	-0.22%	–
UFI	Exit	Unifi, Inc.cs	$0	–	-9,050	–	-0.22%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-3,600	–	-0.22%	–
BC	Exit	Brunswickcs	$0	–	-5,500	–	-0.22%	–
GIS	Exit	General Millscs	$0	–	-4,300	–	-0.23%	–
C	Exit	Citigroupcs	$0	–	-5,962	–	-0.24%	–
DVA	Exit	DaVita Inc.cs	$0	–	-4,250	–	-0.24%	–
PX	Exit	Praxaircs	$0	–	-2,350	–	-0.24%	–
GD	Exit	General Dynamicscs	$0	–	-1,851	–	-0.24%	–
PFSI	Exit	PennyMac Financial Servicescs	$0	–	-16,900	–	-0.24%	–
DOFSQ	Exit	Diamond Offshore Drillingcs	$0	–	-16,550	–	-0.24%	–
DAL	Exit	Delta Airlinescs	$0	–	-7,450	–	-0.25%	–
BNS	Exit	Bank of Nova Scotiacs	$0	–	-5,625	–	-0.25%	–
OI	Exit	Owens-Illinois Inccs	$0	–	-16,200	–	-0.25%	–
STTPRCCL	Exit	State Street Preferred Ccs	$0	–	-11,900	–	-0.25%	–
CYNO	Exit	Cynosurecs	$0	–	-6,075	–	-0.26%	–
CFCPRBCL	Exit	Countrywide Capital V 7.00%cs	$0	–	-12,000	–	-0.26%	–
WBA	Exit	Walgreens Boots Alliancecs	$0	–	-3,875	–	-0.26%	–
KMI	Exit	Kinder Morgan Inccs	$0	–	-13,538	–	-0.26%	–
LB	Exit	L Brands Inccs	$0	–	-4,450	–	-0.26%	–
INT	Exit	World Fuel Servicescs	$0	–	-6,900	–	-0.27%	–
PRXL	Exit	Parexel International Corpcs	$0	–	-4,600	–	-0.27%	–
AMSG	Exit	Amsurg Corpcs	$0	–	-4,800	–	-0.27%	–
SAVE	Exit	Spirit Airlinescs	$0	–	-7,875	–	-0.28%	–
WHR	Exit	Whirlpoolcs	$0	–	-2,075	–	-0.28%	–
GM	Exit	General Motorscs	$0	–	-10,695	–	-0.28%	–
REGN	Exit	Regeneron Pharmaceuticalscs	$0	–	-855	–	-0.29%	–
WFM	Exit	Whole Foodscs	$0	–	-12,836	–	-0.30%	–
WPC	Exit	W.P. Carey & Co.cs	$0	–	-5,684	–	-0.31%	–
BDC	Exit	Belden Inc.cs	$0	–	-5,400	–	-0.31%	–
MYL	Exit	Mylan Labscs	$0	–	-9,950	–	-0.32%	–
HD	Exit	Home Depotcs	$0	–	-2,973	–	-0.32%	–
MDLZ	Exit	Mondelez Internationalcs	$0	–	-8,810	–	-0.32%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-8,761	–	-0.33%	–
NSC	Exit	Norfolk Southerncs	$0	–	-4,050	–	-0.33%	–
ALK	Exit	Alaska Aircs	$0	–	-6,125	–	-0.34%	–
FTNT	Exit	Fortinetcs	$0	–	-11,025	–	-0.34%	–
GPS	Exit	The Gap Inc.cs	$0	–	-18,750	–	-0.35%	–
ALB	Exit	Albemarle Corp.cs	$0	–	-4,900	–	-0.35%	–
COF	Exit	Capital One Finl.cs	$0	–	-5,950	–	-0.36%	–
WM	Exit	Waste Management Inc.cs	$0	–	-6,800	–	-0.36%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-560	–	-0.36%	–
NOC	Exit	Northrop Grummancs	$0	–	-2,057	–	-0.37%	–
PSX	Exit	Phillips 66cs	$0	–	-5,500	–	-0.37%	–
CRM	Exit	Salesforce.comcs	$0	–	-6,300	–	-0.38%	–
SWKS	Exit	Skyworks Solutions Inccs	$0	–	-5,950	–	-0.38%	–
PWR	Exit	Quanta Servicescs	$0	–	-16,300	–	-0.38%	–
SBUX	Exit	Starbuckscs	$0	–	-8,600	–	-0.39%	–
SYY	Exit	Sysco Corpcs	$0	–	-9,720	–	-0.40%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-11,250	–	-0.41%	–
MO	Exit	Altria Groupcs	$0	–	-7,712	–	-0.41%	–
NVO	Exit	Novo Nordiskcs	$0	–	-11,900	–	-0.42%	–
CCL	Exit	Carnival Corp.-Cl Acs	$0	–	-10,200	–	-0.42%	–
PPG	Exit	PPG Industriescs	$0	–	-4,875	–	-0.42%	–
SNA	Exit	Snap-On Toolscs	$0	–	-3,311	–	-0.42%	–
RHHBY	Exit	Roche Holdings Ltdcs	$0	–	-16,200	–	-0.42%	–
KSU	Exit	Kansas City So.cs	$0	–	-5,475	–	-0.43%	–
FRCPRCCL	Exit	First Republic Preferred Ccs	$0	–	-20,025	–	-0.43%	–
TOL	Exit	Toll Brotherscs	$0	–	-17,575	–	-0.44%	–
APD	Exit	Air Prod.& Chem.cs	$0	–	-3,525	–	-0.44%	–
SYNA	Exit	Synapticscs	$0	–	-9,204	–	-0.45%	–
NGG	Exit	National Grid PLCcs	$0	–	-7,700	–	-0.46%	–
AGN	Exit	Allergancs	$0	–	-2,400	–	-0.46%	–
UPS	Exit	UPScs	$0	–	-5,100	–	-0.47%	–
PDCO	Exit	Patterson Companiescs	$0	–	-12,568	–	-0.48%	–
KO	Exit	Coca-Colacs	$0	–	-13,673	–	-0.48%	–
LYB	Exit	LyondellBasell Industriescs	$0	–	-7,200	–	-0.49%	–
PANW	Exit	Palo Alto Networkscs	$0	–	-3,679	–	-0.49%	–
HYH	Exit	Halyard Healthcs	$0	–	-17,657	–	-0.51%	–
CP	Exit	Canadian Pacificcs	$0	–	-4,037	–	-0.52%	–
JPMPRDCL	Exit	JPMorgan Pfd Ser Ocs	$0	–	-24,300	–	-0.53%	–
LEN	Exit	Lennarcs	$0	–	-14,975	–	-0.53%	–
ACM	Exit	AECOM Technology Corpcs	$0	–	-21,450	–	-0.54%	–
MHK	Exit	Mohawk Industriescs	$0	–	-3,250	–	-0.55%	–
AAL	Exit	American Airlines Group Inc.cs	$0	–	-17,825	–	-0.55%	–
HBI	Exit	Hanesbrands, Inc.cs	$0	–	-27,100	–	-0.57%	–
ZTS	Exit	Zoetis Inccs	$0	–	-13,195	–	-0.58%	–
EPD	Exit	Enterprise Products Partners Lcs	$0	–	-24,980	–	-0.58%	–
TGT	Exit	Targetcs	$0	–	-10,050	–	-0.58%	–
AWI	Exit	Armstrong World Industriescs	$0	–	-16,850	–	-0.58%	–
UNP	Exit	Union Pacificcs	$0	–	-7,213	–	-0.59%	–
GILD	Exit	Gilead Sciencescs	$0	–	-8,890	–	-0.59%	–
HRL	Exit	Hormel Foods Corpcs	$0	–	-18,800	–	-0.60%	–
IBP	Exit	Installed Building Products Incs	$0	–	-19,900	–	-0.60%	–
UTX	Exit	United Technologiescs	$0	–	-7,070	–	-0.60%	–
AKAM	Exit	Akamai Technologiescs	$0	–	-14,005	–	-0.62%	–
PNR	Exit	Pentaircs	$0	–	-11,700	–	-0.63%	–
PEP	Exit	Pepsicocs	$0	–	-7,029	–	-0.64%	–
NVS	Exit	Novartis AG ADScs	$0	–	-9,704	–	-0.64%	–
HUBB	Exit	Hubbellcs	$0	–	-7,175	–	-0.65%	–
JWN	Exit	Nordstromcs	$0	–	-15,425	–	-0.67%	–
MS	Exit	Morgan Stanleycs	$0	–	-25,214	–	-0.68%	–
AVT	Exit	Avnetcs	$0	–	-20,200	–	-0.70%	–
MSFT	Exit	Microsoftcs	$0	–	-14,902	–	-0.72%	–
MRK	Exit	Merckcs	$0	–	-13,922	–	-0.73%	–
SLB	Exit	Schlumbergercs	$0	–	-11,302	–	-0.74%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-6,173	–	-0.75%	–
ROL	Exit	Rollinscs	$0	–	-30,800	–	-0.76%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-7,862	–	-0.77%	–
MCD	Exit	McDonald'scs	$0	–	-8,367	–	-0.81%	–
FDX	Exit	FedExcs	$0	–	-5,700	–	-0.84%	–
ABT	Exit	Abbott Labscs	$0	–	-23,877	–	-0.85%	–
BACPRE	Exit	Bank of America Pfd Ser Ecs	$0	–	-42,750	–	-0.88%	–
INDB	Exit	Independent Bankcs	$0	–	-19,853	–	-0.90%	–
T	Exit	A T & Tcs	$0	–	-26,636	–	-0.91%	–
MET	Exit	MetLifecs	$0	–	-24,500	–	-0.91%	–
EMR	Exit	Emerson Electriccs	$0	–	-20,420	–	-0.93%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-20,867	–	-0.94%	–
HW	Exit	Headwaters Inccs	$0	–	-66,537	–	-0.94%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-7,225	–	-0.96%	–
WYND	Exit	Wyndham Worldwidecs	$0	–	-17,250	–	-0.97%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-21,975	–	-1.01%	–
AMGN	Exit	Amgencs	$0	–	-7,265	–	-1.02%	–
MMM	Exit	3M Corp.cs	$0	–	-6,908	–	-1.02%	–
K	Exit	Kelloggcs	$0	–	-15,932	–	-1.03%	–
PG	Exit	Procter & Gamblecs	$0	–	-13,826	–	-1.04%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-24,027	–	-1.06%	–
DRI	Exit	Darden Restaurantscs	$0	–	-21,350	–	-1.10%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-14,885	–	-1.11%	–
AB	Exit	AllianceBernstein Holdingscs	$0	–	-62,088	–	-1.19%	–
CSCO	Exit	Cisco Systemscs	$0	–	-45,150	–	-1.20%	–
BA	Exit	Boeingcs	$0	–	-10,990	–	-1.21%	–
AAPL	Exit	Apple Computercs	$0	–	-12,835	–	-1.22%	–
BBT	Exit	BB&Tcs	$0	–	-40,690	–	-1.29%	–
CELG	Exit	Celgenecs	$0	–	-14,755	–	-1.29%	–
CSX	Exit	CSX Corpcs	$0	–	-50,863	–	-1.30%	–
INTC	Exit	Intelcs	$0	–	-42,883	–	-1.36%	–
DIS	Exit	Walt Disneycs	$0	–	-17,575	–	-1.37%	–
VLO	Exit	Valerocs	$0	–	-31,225	–	-1.39%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-21,600	–	-1.42%	–
PFE	Exit	Pfizercs	$0	–	-59,067	–	-1.68%	–
WFC	Exit	Wells Fargocs	$0	–	-46,447	–	-1.72%	–
WASH	Exit	Washington Trustcs	$0	–	-63,093	–	-2.13%	–
XOM	Exit	Exxon Mobilcs	$0	–	-30,468	–	-2.23%	–
GE	Exit	General Electriccs	$0	–	-90,286	–	-2.24%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-24,338	–	-2.57%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-30,343	–	-3.00%	–
CHD	Exit	Church and Dwightcs	$0	–	-114,600	–	-4.60%	–

Q3 2016

			Value		Shares		↓ Weighting
CHD	Buy	Church and Dwightcs	$5,492,000	-7.5%	114,600	+98.6%	4.60%	-9.9%
JNJ	Buy	Johnson & Johnsoncs	$3,584,000	+16.9%	30,343	+20.0%	3.00%	+13.8%
KMB	Sell	Kimberly Clarkcs	$3,070,000	-9.7%	24,338	-1.6%	2.57%	-12.1%
GE	Buy	General Electriccs	$2,674,000	+3.4%	90,286	+9.9%	2.24%	+0.7%
XOM	Sell	Exxon Mobilcs	$2,659,000	-12.8%	30,468	-6.3%	2.23%	-15.1%
WASH	Sell	Washington Trustcs	$2,538,000	+4.4%	63,093	-1.6%	2.13%	+1.7%
WFC	Buy	Wells Fargocs	$2,057,000	+0.1%	46,447	+7.0%	1.72%	-2.5%
PFE	Buy	Pfizercs	$2,001,000	+28.1%	59,067	+33.2%	1.68%	+24.8%
URI	Buy	United Rentals, Inc.cs	$1,695,000	+109.3%	21,600	+78.9%	1.42%	+103.9%
VLO	Buy	Valerocs	$1,655,000	+8.2%	31,225	+4.1%	1.39%	+5.3%
DIS	Buy	Walt Disneycs	$1,632,000	+3.2%	17,575	+8.7%	1.37%	+0.4%
INTC	Sell	Intelcs	$1,619,000	+3.2%	42,883	-10.3%	1.36%	+0.5%
CSX	Buy	CSX Corpcs	$1,551,000	+44.0%	50,863	+23.1%	1.30%	+40.2%
CELG	Sell	Celgenecs	$1,542,000	-11.9%	14,755	-16.9%	1.29%	-14.2%
BBT	Sell	BB&Tcs	$1,535,000	-2.4%	40,690	-7.8%	1.29%	-4.9%
AAPL	Sell	Apple Computercs	$1,451,000	+11.7%	12,835	-5.6%	1.22%	+8.8%
BA	Buy	Boeingcs	$1,448,000	+13.7%	10,990	+12.1%	1.21%	+10.8%
CSCO	Sell	Cisco Systemscs	$1,432,000	-13.1%	45,150	-21.3%	1.20%	-15.4%
AB	Buy	AllianceBernstein Holdingscs	$1,416,000	+8.1%	62,088	+10.4%	1.19%	+5.2%
CVS	Buy	C.V.S. Caremarkcs	$1,325,000	+29.5%	14,885	+39.3%	1.11%	+26.1%
DRI	Buy	Darden Restaurantscs	$1,309,000	+129.6%	21,350	+137.2%	1.10%	+123.4%
NKE	Sell	Nike Inc Class Bcs	$1,265,000	-9.0%	24,027	-4.6%	1.06%	-11.4%
PG	Buy	Procter & Gamblecs	$1,241,000	+19.3%	13,826	+12.6%	1.04%	+16.2%
K	Sell	Kelloggcs	$1,234,000	-7.5%	15,932	-2.4%	1.03%	-9.9%
AMGN	Sell	Amgencs	$1,212,000	-14.7%	7,265	-22.2%	1.02%	-16.9%
PB	Sell	Prosperity Bancshares, Inc.cs	$1,206,000	+3.2%	21,975	-4.1%	1.01%	+0.5%
WYND	Buy	Wyndham Worldwidecs	$1,161,000	-2.3%	17,250	+3.4%	0.97%	-4.9%
IBM	Buy	Int'l Bus. Mach.cs	$1,148,000	+36.8%	7,225	+30.8%	0.96%	+33.2%
HW	Buy	Headwaters Inccs	$1,126,000	+87.0%	66,537	+98.4%	0.94%	+82.2%
BMY	Buy	Bristol Myers Squibbcs	$1,125,000	+113.9%	20,867	+191.8%	0.94%	+108.2%
EMR	Sell	Emerson Electriccs	$1,113,000	+1.3%	20,420	-3.1%	0.93%	-1.4%
MET	Buy	MetLifecs	$1,089,000	+124.1%	24,500	+100.8%	0.91%	+118.4%
T	Buy	A T & Tcs	$1,082,000	-3.0%	26,636	+3.1%	0.91%	-5.6%
INDB	Sell	Independent Bankcs	$1,074,000	-2.2%	19,853	-17.4%	0.90%	-4.8%
BACPRE	Buy	Bank of America Pfd Ser Ecs	$1,050,000	+92.0%	42,750	+90.4%	0.88%	+86.8%
ABT	Sell	Abbott Labscs	$1,010,000	-17.2%	23,877	-23.0%	0.85%	-19.3%
FDX	Sell	FedExcs	$996,000	-23.3%	5,700	-33.4%	0.84%	-25.3%
MCD	Buy	McDonald'scs	$965,000	+128.1%	8,367	+137.9%	0.81%	+122.3%
HON	Buy	Honeywell Int'l.cs	$917,000	+210.8%	7,862	+209.9%	0.77%	+202.8%
ROL	Buy	Rollinscs	$902,000	+154.8%	30,800	+154.5%	0.76%	+147.9%
SLB	Buy	Schlumbergercs	$889,000	+17.7%	11,302	+18.3%	0.74%	+14.6%
MRK	Sell	Merckcs	$869,000	-60.4%	13,922	-63.5%	0.73%	-61.5%
MSFT	Sell	Microsoftcs	$858,000	-47.7%	14,902	-53.5%	0.72%	-49.1%
AVT	Buy	Avnetcs	$829,000	+21.7%	20,200	+20.2%	0.70%	+18.6%
MS	Sell	Morgan Stanleycs	$808,000	+18.8%	25,214	-3.6%	0.68%	+15.7%
JWN	Sell	Nordstromcs	$800,000	-36.6%	15,425	-53.5%	0.67%	-38.2%
HUBB	Buy	Hubbellcs	$773,000	+257.9%	7,175	+250.0%	0.65%	+248.4%
NVS	Buy	Novartis AG ADScs	$766,000	+1.7%	9,704	+6.3%	0.64%	-0.9%
PEP	Buy	Pepsicocs	$765,000	+12.8%	7,029	+9.8%	0.64%	+9.8%
PNR	Buy	Pentaircs	$752,000	+24.9%	11,700	+13.3%	0.63%	+21.6%
AKAM	Sell	Akamai Technologiescs	$742,000	-11.0%	14,005	-6.0%	0.62%	-13.4%
IBP	New	Installed Building Products Incs	$714,000	–	19,900	–	0.60%	–
HRL	Buy	Hormel Foods Corpcs	$713,000	+36.6%	18,800	+31.9%	0.60%	+33.2%
UNP	Sell	Union Pacificcs	$703,000	-15.5%	7,213	-24.4%	0.59%	-17.7%
GILD	Buy	Gilead Sciencescs	$703,000	+158.5%	8,890	+172.3%	0.59%	+151.7%
AWI	Sell	Armstrong World Industriescs	$696,000	-1.6%	16,850	-6.6%	0.58%	-4.3%
EPD	Buy	Enterprise Products Partners Lcs	$690,000	+95.5%	24,980	+107.2%	0.58%	+90.1%
TGT	Buy	Targetcs	$690,000	+124.8%	10,050	+128.4%	0.58%	+118.9%
ZTS	Buy	Zoetis Inccs	$686,000	+33.2%	13,195	+21.7%	0.58%	+29.8%
HBI	Sell	Hanesbrands, Inc.cs	$684,000	-1.0%	27,100	-1.5%	0.57%	-3.7%
AAL	Sell	American Airlines Group Inc.cs	$653,000	+18.1%	17,825	-8.7%	0.55%	+14.9%
MHK	Sell	Mohawk Industriescs	$651,000	-52.5%	3,250	-55.0%	0.55%	-53.7%
ACM	New	AECOM Technology Corpcs	$638,000	–	21,450	–	0.54%	–
LEN	Sell	Lennarcs	$634,000	-15.9%	14,975	-8.4%	0.53%	-18.2%
JPMPRDCL	Buy	JPMorgan Pfd Ser Ocs	$628,000	+4.0%	24,300	+4.3%	0.53%	+1.2%
CP	Sell	Canadian Pacificcs	$616,000	+6.6%	4,037	-10.0%	0.52%	+3.6%
HYH	Buy	Halyard Healthcs	$612,000	+39.7%	17,657	+31.2%	0.51%	+36.1%
PANW	Sell	Palo Alto Networkscs	$586,000	+12.3%	3,679	-13.5%	0.49%	+9.4%
LYB	Buy	LyondellBasell Industriescs	$581,000	+15.7%	7,200	+6.7%	0.49%	+12.7%
PDCO	New	Patterson Companiescs	$577,000	–	12,568	–	0.48%	–
UPS	Sell	UPScs	$558,000	-2.3%	5,100	-3.8%	0.47%	-4.7%
AGN	Buy	Allergancs	$553,000	+62.2%	2,400	+62.7%	0.46%	+57.8%
NGG	New	National Grid PLCcs	$548,000	–	7,700	–	0.46%	–
SYNA	Sell	Synapticscs	$539,000	-1.3%	9,204	-9.4%	0.45%	-3.8%
APD	Sell	Air Prod.& Chem.cs	$530,000	-19.3%	3,525	-23.8%	0.44%	-21.6%
TOL	Buy	Toll Brotherscs	$525,000	+60.1%	17,575	+44.4%	0.44%	+56.0%
FRCPRCCL	New	First Republic Preferred Ccs	$512,000	–	20,025	–	0.43%	–
KSU	Sell	Kansas City So.cs	$511,000	-13.7%	5,475	-16.7%	0.43%	-16.1%
RHHBY	New	Roche Holdings Ltdcs	$503,000	–	16,200	–	0.42%	–
PPG	New	PPG Industriescs	$504,000	–	4,875	–	0.42%	–
SNA	Buy	Snap-On Toolscs	$503,000	+11.8%	3,311	+16.2%	0.42%	+9.0%
CCL	Buy	Carnival Corp.-Cl Acs	$498,000	+121.3%	10,200	+100.0%	0.42%	+114.9%
NVO	New	Novo Nordiskcs	$495,000	–	11,900	–	0.42%	–
MO	Buy	Altria Groupcs	$488,000	+17.9%	7,712	+28.5%	0.41%	+14.9%
GSK	Buy	GlaxoSmithKlinecs	$485,000	+14.7%	11,250	+15.4%	0.41%	+11.8%
PWR	New	Quanta Servicescs	$456,000	–	16,300	–	0.38%	–
SWKS	Buy	Skyworks Solutions Inccs	$453,000	+21.4%	5,950	+0.8%	0.38%	+18.4%
CRM	New	Salesforce.comcs	$449,000	–	6,300	–	0.38%	–
PSX	Buy	Phillips 66cs	$443,000	+7.3%	5,500	+5.8%	0.37%	+4.5%
NOC	New	Northrop Grummancs	$440,000	–	2,057	–	0.37%	–
GOOG	Sell	Alphabet Inc Class Ccs	$435,000	+3.8%	560	-7.4%	0.36%	+1.1%
WM	Buy	Waste Management Inc.cs	$434,000	+50.7%	6,800	+56.3%	0.36%	+46.8%
COF	Sell	Capital One Finl.cs	$427,000	-0.5%	5,950	-11.9%	0.36%	-3.0%
ALB	New	Albemarle Corp.cs	$419,000	–	4,900	–	0.35%	–
GPS	Sell	The Gap Inc.cs	$417,000	+4.0%	18,750	-0.8%	0.35%	+1.4%
FTNT	Sell	Fortinetcs	$407,000	-17.6%	11,025	-29.4%	0.34%	-19.8%
NSC	Sell	Norfolk Southerncs	$393,000	-5.8%	4,050	-17.3%	0.33%	-8.4%
MDLZ	New	Mondelez Internationalcs	$387,000	–	8,810	–	0.32%	–
HD	Sell	Home Depotcs	$383,000	-12.4%	2,973	-13.1%	0.32%	-14.6%
MYL	Sell	Mylan Labscs	$379,000	-13.7%	9,950	-2.0%	0.32%	-15.9%
BDC	Sell	Belden Inc.cs	$373,000	+0.8%	5,400	-11.8%	0.31%	-1.6%
WPC	Sell	W.P. Carey & Co.cs	$367,000	-18.4%	5,684	-12.3%	0.31%	-20.4%
WFM	New	Whole Foodscs	$364,000	–	12,836	–	0.30%	–
REGN	Sell	Regeneron Pharmaceuticalscs	$344,000	-14.0%	855	-25.3%	0.29%	-16.3%
GM	New	General Motorscs	$340,000	–	10,695	–	0.28%	–
WHR	Sell	Whirlpoolcs	$336,000	-13.2%	2,075	-10.8%	0.28%	-15.3%
SAVE	Sell	Spirit Airlinescs	$335,000	-10.9%	7,875	-6.0%	0.28%	-13.3%
AMSG	New	Amsurg Corpcs	$322,000	–	4,800	–	0.27%	–
INT	Buy	World Fuel Servicescs	$319,000	+13.9%	6,900	+16.9%	0.27%	+10.8%
PRXL	Sell	Parexel International Corpcs	$319,000	-75.7%	4,600	-78.0%	0.27%	-76.4%
LB	Sell	L Brands Inccs	$315,000	-25.0%	4,450	-28.8%	0.26%	-27.1%
WBA	Sell	Walgreens Boots Alliancecs	$312,000	-8.0%	3,875	-4.9%	0.26%	-10.3%
KMI	Sell	Kinder Morgan Inccs	$313,000	-10.8%	13,538	-27.8%	0.26%	-13.2%
CFCPRBCL	New	Countrywide Capital V 7.00%cs	$309,000	–	12,000	–	0.26%	–
CYNO	New	Cynosurecs	$309,000	–	6,075	–	0.26%	–
OI	Sell	Owens-Illinois Inccs	$298,000	-1.0%	16,200	-3.0%	0.25%	-3.5%
DAL	Sell	Delta Airlinescs	$293,000	-1.3%	7,450	-8.6%	0.25%	-3.9%
DOFSQ	New	Diamond Offshore Drillingcs	$291,000	–	16,550	–	0.24%	–
GD	Sell	General Dynamicscs	$287,000	-25.1%	1,851	-32.7%	0.24%	-27.0%
C	Sell	Citigroupcs	$282,000	-10.2%	5,962	-19.4%	0.24%	-12.6%
DVA	Sell	DaVita Inc.cs	$281,000	-28.3%	4,250	-16.3%	0.24%	-30.0%
GIS	Sell	General Millscs	$275,000	-42.0%	4,300	-35.3%	0.23%	-43.4%
BC	New	Brunswickcs	$268,000	–	5,500	–	0.22%	–
CL	Sell	Colgate-Palmolivecs	$267,000	-50.0%	3,600	-50.7%	0.22%	-51.3%
TYL	Sell	Tyler Techcs	$265,000	-46.6%	1,550	-47.9%	0.22%	-48.0%
HSBCPRA	Sell	HSBC Holdings Pfd Acs	$265,000	-1.9%	10,350	-0.5%	0.22%	-4.3%
RDN	Sell	Radiancs	$262,000	+7.8%	19,350	-17.1%	0.22%	+5.3%
VZ	Buy	Verizon Comm.cs	$259,000	+8.4%	4,983	+16.3%	0.22%	+5.3%
MXL	Sell	MaxLinear, Inc.cs	$255,000	-39.4%	12,577	-46.3%	0.21%	-40.9%
CFG	Sell	Citizens Financial Groupcs	$243,000	+12.0%	9,850	-9.2%	0.20%	+9.1%
GIL	Sell	Gildan Activewearcs	$243,000	-14.7%	8,700	-10.3%	0.20%	-16.7%
ABBV	Sell	AbbVie Inc.cs	$240,000	-75.0%	3,808	-75.4%	0.20%	-75.7%
CNBKA	Sell	Century Bancorpcs	$240,000	-6.6%	5,301	-12.8%	0.20%	-9.0%
ACC	New	American Campus Communitiescs	$237,000	–	4,650	–	0.20%	–
TRN	New	Trinity Industriescs	$234,000	–	9,665	–	0.20%	–
BX	Buy	Blackstone Groupcs	$231,000	+14.4%	9,050	+9.7%	0.19%	+11.5%
AWR	New	American States Watercs	$212,000	–	5,300	–	0.18%	–
HSIC	New	Henry Schein, Inccs	$212,000	–	1,300	–	0.18%	–
NYCB	New	New York Community Bancorpcs	$208,000	–	14,650	–	0.17%	–
AZN	Sell	Astrazenecacs	$205,000	-73.6%	6,225	-75.8%	0.17%	-74.3%
KEY	Sell	KeyCorpcs	$174,000	-17.5%	14,300	-25.1%	0.15%	-19.8%
PSGLQ	Exit	Performance Sports Groupcs	$0	–	-23,309	–	-0.06%	–
CMG	Exit	Chipotle Mexican Grill, Inc.cs	$0	–	-500	–	-0.17%	–
THRM	Exit	Gentherm Inc.cs	$0	–	-7,445	–	-0.22%	–
ESRX	Exit	Express Scriptscs	$0	–	-3,450	–	-0.23%	–
EOG	Exit	EOG Resourcescs	$0	–	-3,595	–	-0.26%	–
AMZN	Exit	Amazon, Inc.cs	$0	–	-420	–	-0.26%	–
EXPE	Exit	Expediacs	$0	–	-3,050	–	-0.28%	–
PKG	Exit	Packaging Corp of Americacs	$0	–	-4,925	–	-0.28%	–
AJG	Exit	Arthur J Gallagher & Cocs	$0	–	-7,600	–	-0.31%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-555	–	-0.34%	–
MMSI	Exit	Merit Medical Systems, Inc.cs	$0	–	-20,840	–	-0.36%	–
PII	Exit	Polaris Industriescs	$0	–	-5,300	–	-0.37%	–
MPC	Exit	Marathon Petroleumcs	$0	–	-12,100	–	-0.40%	–
ETN	Exit	Eatoncs	$0	–	-8,450	–	-0.44%	–
HRS	Exit	Harriscs	$0	–	-6,900	–	-0.50%	–
LLY	Exit	Eli Lillycs	$0	–	-7,400	–	-0.50%	–
AMWD	Exit	American Woodmark Corporationcs	$0	–	-9,300	–	-0.53%	–
COST	Exit	Costco Wholesalecs	$0	–	-3,950	–	-0.53%	–
DEO	Exit	Diageo PLC ADScs	$0	–	-6,300	–	-0.61%	–
ANTM	Exit	Anthemcs	$0	–	-5,450	–	-0.62%	–
ADI	Exit	Analog Devicescs	$0	–	-20,000	–	-0.98%	–

Q2 2016

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,937,000	–	57,700	–	5.11%	–
KMB	New	Kimberly Clarkcs	$3,401,000	–	24,738	–	2.93%	–
JNJ	New	Johnson & Johnsoncs	$3,066,000	–	25,280	–	2.64%	–
XOM	New	Exxon Mobilcs	$3,049,000	–	32,526	–	2.62%	–
GE	New	General Electriccs	$2,586,000	–	82,154	–	2.23%	–
WASH	New	Washington Trustcs	$2,430,000	–	64,093	–	2.09%	–
MRK	New	Merckcs	$2,196,000	–	38,124	–	1.89%	–
WFC	New	Wells Fargocs	$2,054,000	–	43,397	–	1.77%	–
CELG	New	Celgenecs	$1,751,000	–	17,755	–	1.51%	–
CSCO	New	Cisco Systemscs	$1,647,000	–	57,400	–	1.42%	–
MSFT	New	Microsoftcs	$1,641,000	–	32,077	–	1.41%	–
DIS	New	Walt Disneycs	$1,582,000	–	16,175	–	1.36%	–
BBT	New	BB&Tcs	$1,572,000	–	44,140	–	1.35%	–
INTC	New	Intelcs	$1,569,000	–	47,833	–	1.35%	–
PFE	New	Pfizercs	$1,562,000	–	44,350	–	1.34%	–
VLO	New	Valerocs	$1,530,000	–	30,000	–	1.32%	–
AMGN	New	Amgencs	$1,421,000	–	9,340	–	1.22%	–
NKE	New	Nike Inc Class Bcs	$1,390,000	–	25,177	–	1.20%	–
MHK	New	Mohawk Industriescs	$1,370,000	–	7,220	–	1.18%	–
K	New	Kelloggcs	$1,334,000	–	16,332	–	1.15%	–
PRXL	New	Parexel International Corpcs	$1,315,000	–	20,911	–	1.13%	–
AB	New	AllianceBernstein Holdingscs	$1,310,000	–	56,238	–	1.13%	–
FDX	New	FedExcs	$1,299,000	–	8,560	–	1.12%	–
AAPL	New	Apple Computercs	$1,299,000	–	13,590	–	1.12%	–
BA	New	Boeingcs	$1,273,000	–	9,800	–	1.10%	–
JWN	New	Nordstromcs	$1,261,000	–	33,150	–	1.08%	–
ABT	New	Abbott Labscs	$1,220,000	–	31,027	–	1.05%	–
MMM	New	3M Corp.cs	$1,210,000	–	6,908	–	1.04%	–
WYND	New	Wyndham Worldwidecs	$1,188,000	–	16,675	–	1.02%	–
PB	New	Prosperity Bancshares, Inc.cs	$1,169,000	–	22,925	–	1.01%	–
ADI	New	Analog Devicescs	$1,133,000	–	20,000	–	0.98%	–
T	New	A T & Tcs	$1,116,000	–	25,836	–	0.96%	–
EMR	New	Emerson Electriccs	$1,099,000	–	21,070	–	0.95%	–
INDB	New	Independent Bankcs	$1,098,000	–	24,028	–	0.94%	–
CSX	New	CSX Corpcs	$1,077,000	–	41,313	–	0.93%	–
PG	New	Procter & Gamblecs	$1,040,000	–	12,280	–	0.90%	–
CVS	New	C.V.S. Caremarkcs	$1,023,000	–	10,685	–	0.88%	–
ABBV	New	AbbVie Inc.cs	$960,000	–	15,508	–	0.83%	–
BRKB	New	Berkshire Hathaway Bcs	$894,000	–	6,173	–	0.77%	–
IBM	New	Int'l Bus. Mach.cs	$839,000	–	5,525	–	0.72%	–
AKAM	New	Akamai Technologiescs	$834,000	–	14,905	–	0.72%	–
UNP	New	Union Pacificcs	$832,000	–	9,538	–	0.72%	–
URI	New	United Rentals, Inc.cs	$810,000	–	12,075	–	0.70%	–
AZN	New	Astrazenecacs	$777,000	–	25,750	–	0.67%	–
SLB	New	Schlumbergercs	$755,000	–	9,552	–	0.65%	–
LEN	New	Lennarcs	$754,000	–	16,350	–	0.65%	–
NVS	New	Novartis AG ADScs	$753,000	–	9,129	–	0.65%	–
UTX	New	United Technologiescs	$725,000	–	7,070	–	0.62%	–
ANTM	New	Anthemcs	$716,000	–	5,450	–	0.62%	–
DEO	New	Diageo PLC ADScs	$711,000	–	6,300	–	0.61%	–
AWI	New	Armstrong World Industriescs	$707,000	–	18,050	–	0.61%	–
HBI	New	Hanesbrands, Inc.cs	$691,000	–	27,500	–	0.60%	–
AVT	New	Avnetcs	$681,000	–	16,800	–	0.59%	–
MS	New	Morgan Stanleycs	$680,000	–	26,164	–	0.58%	–
PEP	New	Pepsicocs	$678,000	–	6,399	–	0.58%	–
APD	New	Air Prod.& Chem.cs	$657,000	–	4,625	–	0.57%	–
KO	New	Coca-Colacs	$620,000	–	13,673	–	0.53%	–
COST	New	Costco Wholesalecs	$620,000	–	3,950	–	0.53%	–
AMWD	New	American Woodmark Corporationcs	$617,000	–	9,300	–	0.53%	–
JPMPRDCL	New	JPMorgan Pfd Ser Ocs	$604,000	–	23,300	–	0.52%	–
PNR	New	Pentaircs	$602,000	–	10,325	–	0.52%	–
HW	New	Headwaters Inccs	$602,000	–	33,531	–	0.52%	–
KSU	New	Kansas City So.cs	$592,000	–	6,575	–	0.51%	–
LLY	New	Eli Lillycs	$583,000	–	7,400	–	0.50%	–
CP	New	Canadian Pacificcs	$578,000	–	4,487	–	0.50%	–
HRS	New	Harriscs	$576,000	–	6,900	–	0.50%	–
DRI	New	Darden Restaurantscs	$570,000	–	9,000	–	0.49%	–
UPS	New	UPScs	$571,000	–	5,300	–	0.49%	–
AAL	New	American Airlines Group Inc.cs	$553,000	–	19,525	–	0.48%	–
BACPRE	New	Bank of America Pfd Ser Ecs	$547,000	–	22,450	–	0.47%	–
SYNA	New	Synapticscs	$546,000	–	10,154	–	0.47%	–
CL	New	Colgate-Palmolivecs	$534,000	–	7,300	–	0.46%	–
BMY	New	Bristol Myers Squibbcs	$526,000	–	7,150	–	0.45%	–
HRL	New	Hormel Foods Corpcs	$522,000	–	14,250	–	0.45%	–
PANW	New	Palo Alto Networkscs	$522,000	–	4,254	–	0.45%	–
ZTS	New	Zoetis Inccs	$515,000	–	10,845	–	0.44%	–
ETN	New	Eatoncs	$505,000	–	8,450	–	0.44%	–
LYB	New	LyondellBasell Industriescs	$502,000	–	6,750	–	0.43%	–
TYL	New	Tyler Techcs	$496,000	–	2,976	–	0.43%	–
FTNT	New	Fortinetcs	$494,000	–	15,625	–	0.42%	–
SYY	New	Sysco Corpcs	$493,000	–	9,720	–	0.42%	–
SBUX	New	Starbuckscs	$491,000	–	8,600	–	0.42%	–
MET	New	MetLifecs	$486,000	–	12,200	–	0.42%	–
GIS	New	General Millscs	$474,000	–	6,650	–	0.41%	–
MPC	New	Marathon Petroleumcs	$459,000	–	12,100	–	0.40%	–
WPC	New	W.P. Carey & Co.cs	$450,000	–	6,484	–	0.39%	–
SNA	New	Snap-On Toolscs	$450,000	–	2,850	–	0.39%	–
MYL	New	Mylan Labscs	$439,000	–	10,150	–	0.38%	–
HYH	New	Halyard Healthcs	$438,000	–	13,457	–	0.38%	–
HD	New	Home Depotcs	$437,000	–	3,423	–	0.38%	–
PII	New	Polaris Industriescs	$433,000	–	5,300	–	0.37%	–
COF	New	Capital One Finl.cs	$429,000	–	6,750	–	0.37%	–
MCD	New	McDonald'scs	$423,000	–	3,517	–	0.36%	–
GSK	New	GlaxoSmithKlinecs	$423,000	–	9,750	–	0.36%	–
MXL	New	MaxLinear, Inc.cs	$421,000	–	23,400	–	0.36%	–
LB	New	L Brands Inccs	$420,000	–	6,250	–	0.36%	–
GOOG	New	Alphabet Inc Class Ccs	$419,000	–	605	–	0.36%	–
NSC	New	Norfolk Southerncs	$417,000	–	4,900	–	0.36%	–
MO	New	Altria Groupcs	$414,000	–	6,000	–	0.36%	–
PSX	New	Phillips 66cs	$413,000	–	5,200	–	0.36%	–
MMSI	New	Merit Medical Systems, Inc.cs	$413,000	–	20,840	–	0.36%	–
GPS	New	The Gap Inc.cs	$401,000	–	18,900	–	0.34%	–
REGN	New	Regeneron Pharmaceuticalscs	$400,000	–	1,145	–	0.34%	–
DVA	New	DaVita Inc.cs	$392,000	–	5,075	–	0.34%	–
GOOGL	New	Alphabet Inc Class Acs	$390,000	–	555	–	0.34%	–
WHR	New	Whirlpoolcs	$387,000	–	2,325	–	0.33%	–
GD	New	General Dynamicscs	$383,000	–	2,750	–	0.33%	–
SAVE	New	Spirit Airlinescs	$376,000	–	8,375	–	0.32%	–
SWKS	New	Skyworks Solutions Inccs	$373,000	–	5,900	–	0.32%	–
BDC	New	Belden Inc.cs	$370,000	–	6,125	–	0.32%	–
QSR	New	Restaurant Brands Int'lcs	$364,000	–	8,761	–	0.31%	–
AJG	New	Arthur J Gallagher & Cocs	$362,000	–	7,600	–	0.31%	–
ALK	New	Alaska Aircs	$357,000	–	6,125	–	0.31%	–
ROL	New	Rollinscs	$354,000	–	12,100	–	0.30%	–
EPD	New	Enterprise Products Partners Lcs	$353,000	–	12,055	–	0.30%	–
KMI	New	Kinder Morgan Inccs	$351,000	–	18,742	–	0.30%	–
AGN	New	Allergancs	$341,000	–	1,475	–	0.29%	–
WBA	New	Walgreens Boots Alliancecs	$339,000	–	4,075	–	0.29%	–
PKG	New	Packaging Corp of Americacs	$330,000	–	4,925	–	0.28%	–
TOL	New	Toll Brotherscs	$328,000	–	12,175	–	0.28%	–
EXPE	New	Expediacs	$324,000	–	3,050	–	0.28%	–
STTPRCCL	New	State Street Preferred Ccs	$314,000	–	11,900	–	0.27%	–
C	New	Citigroupcs	$314,000	–	7,400	–	0.27%	–
TGT	New	Targetcs	$307,000	–	4,400	–	0.26%	–
OI	New	Owens-Illinois Inccs	$301,000	–	16,700	–	0.26%	–
AMZN	New	Amazon, Inc.cs	$301,000	–	420	–	0.26%	–
EOG	New	EOG Resourcescs	$300,000	–	3,595	–	0.26%	–
DAL	New	Delta Airlinescs	$297,000	–	8,150	–	0.26%	–
HON	New	Honeywell Int'l.cs	$295,000	–	2,537	–	0.25%	–
WM	New	Waste Management Inc.cs	$288,000	–	4,350	–	0.25%	–
GIL	New	Gildan Activewearcs	$285,000	–	9,700	–	0.24%	–
INT	New	World Fuel Servicescs	$280,000	–	5,900	–	0.24%	–
BNS	New	Bank of Nova Scotiacs	$276,000	–	5,625	–	0.24%	–
GILD	New	Gilead Sciencescs	$272,000	–	3,265	–	0.23%	–
HSBCPRA	New	HSBC Holdings Pfd Acs	$270,000	–	10,400	–	0.23%	–
PX	New	Praxaircs	$264,000	–	2,350	–	0.23%	–
ESRX	New	Express Scriptscs	$262,000	–	3,450	–	0.23%	–
CNBKA	New	Century Bancorpcs	$257,000	–	6,080	–	0.22%	–
THRM	New	Gentherm Inc.cs	$255,000	–	7,445	–	0.22%	–
UFI	New	Unifi, Inc.cs	$246,000	–	9,050	–	0.21%	–
RDN	New	Radiancs	$243,000	–	23,350	–	0.21%	–
HES	New	Hess Corporationcs	$240,000	–	4,000	–	0.21%	–
VZ	New	Verizon Comm.cs	$239,000	–	4,283	–	0.21%	–
WMT	New	Wal-Mart Storescs	$229,000	–	3,137	–	0.20%	–
CCL	New	Carnival Corp.-Cl Acs	$225,000	–	5,100	–	0.19%	–
CFG	New	Citizens Financial Groupcs	$217,000	–	10,850	–	0.19%	–
HUBB	New	Hubbellcs	$216,000	–	2,050	–	0.19%	–
KEY	New	KeyCorpcs	$211,000	–	19,100	–	0.18%	–
PFSI	New	PennyMac Financial Servicescs	$211,000	–	16,900	–	0.18%	–
WWAV	New	WhiteWave Foodscs	$207,000	–	4,400	–	0.18%	–
BX	New	Blackstone Groupcs	$202,000	–	8,250	–	0.17%	–
CMG	New	Chipotle Mexican Grill, Inc.cs	$201,000	–	500	–	0.17%	–
	New	Restaurant Brands NZ Ltdcs	$173,000	–	45,000	–	0.15%	–
	New	*Westshore Terminals Investmencs	$146,000	–	10,120	–	0.13%	–
	New	NagaCorp Ltdcs	$134,000	–	201,319	–	0.12%	–
PSGLQ	New	Performance Sports Groupcs	$70,000	–	23,309	–	0.06%	–
	New	Kingmaker Footwear Holdingscs	$27,000	–	120,000	–	0.02%	–
	New	*Huadian Power International Ccs	$19,000	–	40,000	–	0.02%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
	Exit	Kingmaker Footwear Holdingscs	$0	–	-120,000	–	-0.02%	–
	Exit	*Huadian Power International Ccs	$0	–	-40,000	–	-0.03%	–
SUNEQ	Exit	Sunedison Inccs	$0	–	-12,400	–	-0.08%	–
	Exit	Restaurant Brands NZ Ltdcs	$0	–	-45,000	–	-0.11%	–
	Exit	NagaCorp Ltdcs	$0	–	-201,319	–	-0.12%	–
MRO	Exit	Marathon Oilcs	$0	–	-10,300	–	-0.15%	–
TNET	Exit	TriNet Groupcs	$0	–	-11,000	–	-0.18%	–
	Exit	*Westshore Terminals Investmencs	$0	–	-10,000	–	-0.18%	–
SYNA	Exit	Synapticscs	$0	–	-2,450	–	-0.19%	–
STT	Exit	State Streetcs	$0	–	-3,160	–	-0.20%	–
SNY	Exit	Sanofics	$0	–	-4,500	–	-0.20%	–
HFC	Exit	HollyFrontiercs	$0	–	-4,450	–	-0.21%	–
DFS	Exit	Discover Financial Servicescs	$0	–	-4,175	–	-0.21%	–
UAL	Exit	United Continental Holdingscs	$0	–	-4,100	–	-0.21%	–
RTN	Exit	Raytheoncs	$0	–	-2,000	–	-0.21%	–
APC	Exit	Anadarko Petroleumcs	$0	–	-3,700	–	-0.21%	–
SNDK	Exit	SanDisk Corp.cs	$0	–	-4,250	–	-0.22%	–
AKRXQ	Exit	Akorn, Inc.cs	$0	–	-8,150	–	-0.22%	–
HES	Exit	Hess Corporationcs	$0	–	-4,700	–	-0.22%	–
SWKS	Exit	Skyworks Solutions Inccs	$0	–	-2,800	–	-0.22%	–
BMO	Exit	Bank of Montrealcs	$0	–	-4,325	–	-0.22%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-2,537	–	-0.23%	–
JAH	Exit	Jarden Corp.cs	$0	–	-5,100	–	-0.24%	–
EL	Exit	Estee Laudercs	$0	–	-3,100	–	-0.24%	–
ACHC	Exit	Acadia Healthcarecs	$0	–	-3,900	–	-0.25%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-2,650	–	-0.25%	–
VDSI	Exit	VASCO Data Security Int'l Inc.cs	$0	–	-15,151	–	-0.25%	–
M	Exit	Macy's Inc.cs	$0	–	-5,100	–	-0.25%	–
BIIB	Exit	Biogen Ideccs	$0	–	-900	–	-0.25%	–
HSBCPRA	Exit	HSBC Holdings Pfd Acs	$0	–	-10,600	–	-0.26%	–
FINL	Exit	Finish Line Inccs	$0	–	-14,300	–	-0.26%	–
UFI	Exit	Unifi, Inc.cs	$0	–	-9,625	–	-0.27%	–
PX	Exit	Praxaircs	$0	–	-2,850	–	-0.28%	–
STTPRCCL	Exit	State Street Preferred Ccs	$0	–	-11,900	–	-0.28%	–
THRM	Exit	Gentherm Inc.cs	$0	–	-6,645	–	-0.28%	–
ZBH	Exit	Zimmer Biometcs	$0	–	-3,200	–	-0.29%	–
SIAL	Exit	Sigma-Aldrichcs	$0	–	-2,168	–	-0.29%	–
ROL	Exit	Rollinscs	$0	–	-11,300	–	-0.29%	–
MCD	Exit	McDonald'scs	$0	–	-3,120	–	-0.29%	–
V	Exit	Visacs	$0	–	-4,435	–	-0.29%	–
BBBY	Exit	Bed Bath & Beyondcs	$0	–	-5,475	–	-0.30%	–
QSR	Exit	Restaurant Brands Int'lcs	$0	–	-9,256	–	-0.32%	–
ALGN	Exit	Align Technologycs	$0	–	-5,915	–	-0.32%	–
BXLT	Exit	Baxalta Inccs	$0	–	-10,774	–	-0.32%	–
BNS	Exit	Bank of Nova Scotiacs	$0	–	-7,775	–	-0.33%	–
KEY	Exit	KeyCorpcs	$0	–	-26,500	–	-0.33%	–
FAST	Exit	Fastenalcs	$0	–	-9,549	–	-0.33%	–
MJN	Exit	Mead Johnson Nutrition Cocs	$0	–	-4,975	–	-0.33%	–
ESRX	Exit	Express Scriptscs	$0	–	-4,350	–	-0.34%	–
VEEV	Exit	Veeva Systems Inccs	$0	–	-15,100	–	-0.34%	–
WM	Exit	Waste Management Inc.cs	$0	–	-7,250	–	-0.34%	–
BMR	Exit	Biomed Realty Trustcs	$0	–	-18,050	–	-0.34%	–
FDX	Exit	FedExcs	$0	–	-2,550	–	-0.35%	–
WPC	Exit	W.P. Carey & Co.cs	$0	–	-6,484	–	-0.36%	–
ABAX	Exit	Abaxiscs	$0	–	-8,700	–	-0.36%	–
PSGLQ	Exit	Performance Sports Groupcs	$0	–	-28,650	–	-0.36%	–
BDC	Exit	Belden Inc.cs	$0	–	-8,250	–	-0.37%	–
DRI	Exit	Darden Restaurantscs	$0	–	-5,650	–	-0.37%	–
WSM	Exit	Williams Sonomacs	$0	–	-5,100	–	-0.37%	–
PCRX	Exit	Pacira Pharmaceuticalscs	$0	–	-9,460	–	-0.37%	–
EOG	Exit	EOG Resourcescs	$0	–	-5,345	–	-0.37%	–
ANTM	Exit	Anthemcs	$0	–	-2,800	–	-0.37%	–
SBUX	Exit	Starbuckscs	$0	–	-7,100	–	-0.38%	–
STJ	Exit	St. Jude Medicalcs	$0	–	-6,425	–	-0.38%	–
GOOGL	Exit	Alphabet Inc Class Acs	$0	–	-645	–	-0.39%	–
PKG	Exit	Packaging Corp of Americacs	$0	–	-6,875	–	-0.39%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-10,850	–	-0.40%	–
CSCO	Exit	Cisco Systemscs	$0	–	-16,025	–	-0.40%	–
APD	Exit	Air Prod.& Chem.cs	$0	–	-3,300	–	-0.40%	–
TGT	Exit	Targetcs	$0	–	-5,400	–	-0.40%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-10,795	–	-0.42%	–
FLR	Exit	Fluorcs	$0	–	-10,404	–	-0.42%	–
KO	Exit	Coca-Colacs	$0	–	-11,223	–	-0.43%	–
CL	Exit	Colgate-Palmolivecs	$0	–	-7,150	–	-0.43%	–
PRXL	Exit	Parexel International Corpcs	$0	–	-7,375	–	-0.44%	–
GOOG	Exit	Alphabet Inc Class Ccs	$0	–	-765	–	-0.44%	–
PKI	Exit	PerkinElmer, Inc.cs	$0	–	-10,150	–	-0.44%	–
K	Exit	Kelloggcs	$0	–	-7,072	–	-0.45%	–
PII	Exit	Polaris Industriescs	$0	–	-3,950	–	-0.45%	–
LCI	Exit	Lannettcs	$0	–	-11,440	–	-0.45%	–
FSLR	Exit	First Solarcs	$0	–	-11,300	–	-0.46%	–
HYH	Exit	Halyard Healthcs	$0	–	-17,307	–	-0.47%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-9,108	–	-0.47%	–
CHMT	Exit	Chemtura Corpcs	$0	–	-17,600	–	-0.48%	–
WHR	Exit	Whirlpoolcs	$0	–	-3,425	–	-0.48%	–
AXP	Exit	American Expresscs	$0	–	-6,850	–	-0.48%	–
QCOM	Exit	Qualcommcs	$0	–	-9,625	–	-0.49%	–
BLK	Exit	Blackrockcs	$0	–	-1,744	–	-0.49%	–
SAVE	Exit	Spirit Airlinescs	$0	–	-11,250	–	-0.51%	–
CVS	Exit	C.V.S. Caremarkcs	$0	–	-5,610	–	-0.52%	–
OXY	Exit	Occidental Petroleumcs	$0	–	-8,725	–	-0.55%	–
COF	Exit	Capital One Finl.cs	$0	–	-8,000	–	-0.55%	–
COST	Exit	Costco Wholesalecs	$0	–	-4,025	–	-0.55%	–
ETN	Exit	Eatoncs	$0	–	-11,375	–	-0.56%	–
MYL	Exit	Mylan Labscs	$0	–	-15,075	–	-0.58%	–
GPS	Exit	The Gap Inc.cs	$0	–	-21,400	–	-0.58%	–
SMCI	Exit	Super Micro Computercs	$0	–	-22,420	–	-0.58%	–
DVA	Exit	DaVita Inc.cs	$0	–	-8,475	–	-0.58%	–
MHK	Exit	Mohawk Industriescs	$0	–	-3,400	–	-0.59%	–
SYMC	Exit	Symanteccs	$0	–	-32,050	–	-0.59%	–
PEP	Exit	Pepsicocs	$0	–	-6,699	–	-0.60%	–
T	Exit	A T & Tcs	$0	–	-19,450	–	-0.60%	–
WWAV	Exit	WhiteWave Foodscs	$0	–	-16,350	–	-0.62%	–
ABT	Exit	Abbott Labscs	$0	–	-16,427	–	-0.63%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-5,123	–	-0.64%	–
SLB	Exit	Schlumbergercs	$0	–	-9,907	–	-0.65%	–
EMC	Exit	EMCcs	$0	–	-28,365	–	-0.65%	–
NSC	Exit	Norfolk Southerncs	$0	–	-9,000	–	-0.66%	–
TD	Exit	Toronto-Dominion Bankcs	$0	–	-17,550	–	-0.66%	–
TOL	Exit	Toll Brotherscs	$0	–	-20,300	–	-0.66%	–
TRN	Exit	Trinity Industriescs	$0	–	-31,990	–	-0.69%	–
PVTB	Exit	Private Bancorpcs	$0	–	-19,150	–	-0.70%	–
AKAM	Exit	Akamai Technologiescs	$0	–	-10,750	–	-0.71%	–
KSU	Exit	Kansas City So.cs	$0	–	-8,303	–	-0.72%	–
DIS	Exit	Walt Disneycs	$0	–	-7,550	–	-0.74%	–
UNP	Exit	Union Pacificcs	$0	–	-8,745	–	-0.74%	–
AAPL	Exit	Apple Computercs	$0	–	-7,086	–	-0.74%	–
KMI	Exit	Kinder Morgan Inccs	$0	–	-28,244	–	-0.74%	–
BA	Exit	Boeingcs	$0	–	-6,327	–	-0.79%	–
UTX	Exit	United Technologiescs	$0	–	-9,408	–	-0.80%	–
SYY	Exit	Sysco Corpcs	$0	–	-21,595	–	-0.80%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-5,825	–	-0.80%	–
WMT	Exit	Wal-Mart Storescs	$0	–	-13,219	–	-0.82%	–
GILD	Exit	Gilead Sciencescs	$0	–	-8,750	–	-0.82%	–
DD	Exit	Dupontcs	$0	–	-18,150	–	-0.83%	–
AAL	Exit	American Airlines Group Inc.cs	$0	–	-22,775	–	-0.84%	–
INDB	Exit	Independent Bankcs	$0	–	-19,528	–	-0.86%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-15,750	–	-0.89%	–
IHG	Exit	InterContinental Hotelscs	$0	–	-27,249	–	-0.90%	–
EMR	Exit	Emerson Electriccs	$0	–	-21,670	–	-0.91%	–
MS	Exit	Morgan Stanleycs	$0	–	-30,514	–	-0.91%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-16,025	–	-0.92%	–
CP	Exit	Canadian Pacificcs	$0	–	-6,753	–	-0.92%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-7,901	–	-0.92%	–
PG	Exit	Procter & Gamblecs	$0	–	-13,619	–	-0.93%	–
MMM	Exit	3M Corp.cs	$0	–	-7,043	–	-0.95%	–
CSX	Exit	CSX Corpcs	$0	–	-37,395	–	-0.96%	–
EAT	Exit	Brinker Internationalcs	$0	–	-19,441	–	-0.97%	–
ZTS	Exit	Zoetis Inccs	$0	–	-25,020	–	-0.98%	–
WYND	Exit	Wyndham Worldwidecs	$0	–	-14,575	–	-1.00%	–
MDT	Exit	Medtronic PLCcs	$0	–	-15,810	–	-1.01%	–
MSFT	Exit	Microsoftcs	$0	–	-24,598	–	-1.04%	–
STX	Exit	Seagate Technology PCcs	$0	–	-29,500	–	-1.26%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-27,275	–	-1.27%	–
AB	Exit	AllianceBernstein Holdingscs	$0	–	-51,320	–	-1.30%	–
INTC	Exit	Intelcs	$0	–	-45,608	–	-1.31%	–
ADI	Exit	Analog Devicescs	$0	–	-24,425	–	-1.31%	–
PFE	Exit	Pfizercs	$0	–	-45,160	–	-1.35%	–
BBT	Exit	BB&Tcs	$0	–	-45,990	–	-1.56%	–
CELG	Exit	Celgenecs	$0	–	-16,200	–	-1.67%	–
KMB	Exit	Kimberly Clarkcs	$0	–	-16,340	–	-1.70%	–
WFC	Exit	Wells Fargocs	$0	–	-34,972	–	-1.71%	–
MRK	Exit	Merckcs	$0	–	-37,544	–	-1.76%	–
JWN	Exit	Nordstromcs	$0	–	-29,300	–	-2.00%	–
GE	Exit	General Electriccs	$0	–	-85,529	–	-2.05%	–
AMGN	Exit	Amgencs	$0	–	-16,295	–	-2.14%	–
XOM	Exit	Exxon Mobilcs	$0	–	-31,872	–	-2.26%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-27,529	–	-2.45%	–
CHD	Exit	Church and Dwightcs	$0	–	-61,200	–	-4.89%	–

Q3 2015

			Value		Shares		↓ Weighting
CHD	Sell	Church and Dwightcs	$5,135,000	+2.6%	61,200	-0.8%	4.89%	+19.1%
JNJ	Sell	Johnson & Johnsoncs	$2,570,000	-17.7%	27,529	-14.1%	2.45%	-4.5%
XOM	Buy	Exxon Mobilcs	$2,370,000	+2.8%	31,872	+15.0%	2.26%	+19.4%
AMGN	Buy	Amgencs	$2,254,000	-8.7%	16,295	+1.4%	2.14%	+6.1%
GE	Sell	General Electriccs	$2,157,000	-5.1%	85,529	-0.0%	2.05%	+10.3%
JWN	New	Nordstromcs	$2,101,000	–	29,300	–	2.00%	–
MRK	Buy	Merckcs	$1,854,000	-0.6%	37,544	+14.6%	1.76%	+15.4%
WFC	Buy	Wells Fargocs	$1,796,000	+186.9%	34,972	+214.4%	1.71%	+233.1%
KMB	Sell	Kimberly Clarkcs	$1,782,000	-16.2%	16,340	-18.6%	1.70%	-2.6%
CELG	Buy	Celgenecs	$1,752,000	-5.8%	16,200	+0.8%	1.67%	+9.5%
BBT	Buy	BB&Tcs	$1,637,000	+6.2%	45,990	+20.3%	1.56%	+23.4%
PFE	Buy	Pfizercs	$1,418,000	+20.8%	45,160	+29.0%	1.35%	+40.2%
ADI	Buy	Analog Devicescs	$1,378,000	+50.9%	24,425	+71.7%	1.31%	+75.3%
INTC	Buy	Intelcs	$1,375,000	+13.4%	45,608	+14.4%	1.31%	+31.7%
AB	Sell	AllianceBernstein Holdingscs	$1,365,000	-13.1%	51,320	-3.6%	1.30%	+0.9%
PB	Buy	Prosperity Bancshares, Inc.cs	$1,339,000	+9.0%	27,275	+28.2%	1.27%	+26.6%
STX	Buy	Seagate Technology PCcs	$1,322,000	-5.2%	29,500	+0.5%	1.26%	+10.2%
MSFT	Sell	Microsoftcs	$1,089,000	-3.8%	24,598	-4.1%	1.04%	+11.8%
MDT	Buy	Medtronic PLCcs	$1,058,000	+8.5%	15,810	+20.1%	1.01%	+26.0%
WYND	Buy	Wyndham Worldwidecs	$1,048,000	+137.1%	14,575	+169.9%	1.00%	+175.4%
ZTS	Buy	Zoetis Inccs	$1,030,000	+101.6%	25,020	+136.0%	0.98%	+133.9%
EAT	Sell	Brinker Internationalcs	$1,024,000	-8.9%	19,441	-0.3%	0.97%	+5.8%
PG	Sell	Procter & Gamblecs	$980,000	-21.9%	13,619	-15.1%	0.93%	-9.2%
NKE	Sell	Nike Inc Class Bcs	$972,000	+9.7%	7,901	-3.7%	0.92%	+27.4%
CP	Sell	Canadian Pacificcs	$970,000	-12.3%	6,753	-2.2%	0.92%	+1.9%
URI	Buy	United Rentals, Inc.cs	$962,000	-30.4%	16,025	+1.6%	0.92%	-19.2%
MS	Buy	Morgan Stanleycs	$961,000	+139.1%	30,514	+194.4%	0.91%	+177.8%
EMR	Sell	Emerson Electriccs	$957,000	-29.2%	21,670	-11.1%	0.91%	-17.7%
IHG	Buy	InterContinental Hotelscs	$944,000	-9.8%	27,249	+5.3%	0.90%	+4.7%
BMY	Buy	Bristol Myers Squibbcs	$932,000	+34.7%	15,750	+51.4%	0.89%	+56.4%
INDB	Sell	Independent Bankcs	$900,000	-5.4%	19,528	-3.7%	0.86%	+9.9%
AAL	Buy	American Airlines Group Inc.cs	$884,000	+4.7%	22,775	+7.8%	0.84%	+21.5%
DD	Sell	Dupontcs	$875,000	-25.2%	18,150	-0.8%	0.83%	-13.1%
GILD	Buy	Gilead Sciencescs	$859,000	-6.5%	8,750	+11.5%	0.82%	+8.5%
WMT	Buy	Wal-Mart Storescs	$857,000	+182.8%	13,219	+209.7%	0.82%	+229.0%
IBM	Sell	Int'l Bus. Mach.cs	$844,000	-12.3%	5,825	-1.5%	0.80%	+1.9%
SYY	Sell	Sysco Corpcs	$842,000	-46.7%	21,595	-50.7%	0.80%	-38.1%
UTX	Sell	United Technologiescs	$837,000	-41.2%	9,408	-26.7%	0.80%	-31.8%
BA	Buy	Boeingcs	$829,000	-1.7%	6,327	+4.1%	0.79%	+14.2%
AAPL	Buy	Apple Computercs	$782,000	-5.4%	7,086	+7.4%	0.74%	+9.7%
KMI	Sell	Kinder Morgan Inccs	$782,000	-28.3%	28,244	-0.5%	0.74%	-16.7%
UNP	Buy	Union Pacificcs	$773,000	+14.9%	8,745	+23.9%	0.74%	+33.6%
DIS	New	Walt Disneycs	$772,000	–	7,550	–	0.74%	–
KSU	Sell	Kansas City So.cs	$755,000	-7.8%	8,303	-7.5%	0.72%	+7.0%
AKAM	Sell	Akamai Technologiescs	$742,000	-9.0%	10,750	-7.9%	0.71%	+5.7%
PVTB	Buy	Private Bancorpcs	$734,000	+131.5%	19,150	+140.9%	0.70%	+168.5%
TRN	Sell	Trinity Industriescs	$725,000	-19.2%	31,990	-5.8%	0.69%	-6.1%
TOL	Buy	Toll Brotherscs	$695,000	-8.1%	20,300	+2.5%	0.66%	+6.8%
TD	Buy	Toronto-Dominion Bankcs	$692,000	+13.4%	17,550	+22.3%	0.66%	+31.6%
NSC	Sell	Norfolk Southerncs	$688,000	-13.0%	9,000	-0.6%	0.66%	+1.1%
EMC	Sell	EMCcs	$685,000	-38.9%	28,365	-33.3%	0.65%	-29.1%
SLB	Sell	Schlumbergercs	$683,000	-21.6%	9,907	-2.0%	0.65%	-9.0%
ABT	Sell	Abbott Labscs	$661,000	-20.0%	16,427	-2.4%	0.63%	-7.1%
WWAV	Buy	WhiteWave Foodscs	$656,000	-3.1%	16,350	+18.1%	0.62%	+12.4%
PEP	Sell	Pepsicocs	$632,000	-3.2%	6,699	-4.3%	0.60%	+12.3%
SYMC	Buy	Symanteccs	$624,000	+127.7%	32,050	+171.6%	0.59%	+165.2%
DVA	Buy	DaVita Inc.cs	$613,000	+15.2%	8,475	+26.5%	0.58%	+33.7%
SMCI	Sell	Super Micro Computercs	$611,000	-10.7%	22,420	-3.0%	0.58%	+3.8%
GPS	Sell	The Gap Inc.cs	$610,000	-26.5%	21,400	-1.6%	0.58%	-14.7%
MYL	Buy	Mylan Labscs	$607,000	-34.8%	15,075	+9.8%	0.58%	-24.2%
ETN	Sell	Eatoncs	$584,000	-28.3%	11,375	-5.8%	0.56%	-16.8%
COST	Sell	Costco Wholesalecs	$582,000	-54.5%	4,025	-57.5%	0.55%	-47.2%
COF	New	Capital One Finl.cs	$580,000	–	8,000	–	0.55%	–
OXY	New	Occidental Petroleumcs	$577,000	–	8,725	–	0.55%	–
CVS	New	C.V.S. Caremarkcs	$541,000	–	5,610	–	0.52%	–
SAVE	Sell	Spirit Airlinescs	$532,000	-36.5%	11,250	-16.7%	0.51%	-26.3%
BLK	Buy	Blackrockcs	$519,000	+18.2%	1,744	+37.4%	0.49%	+37.2%
QCOM	Sell	Qualcommcs	$517,000	-16.9%	9,625	-3.0%	0.49%	-3.5%
AXP	Sell	American Expresscs	$508,000	-58.4%	6,850	-56.4%	0.48%	-51.7%
CHMT	Buy	Chemtura Corpcs	$504,000	+8.6%	17,600	+7.3%	0.48%	+26.3%
WHR	Buy	Whirlpoolcs	$504,000	-11.1%	3,425	+4.6%	0.48%	+3.2%
ABBV	Buy	AbbVie Inc.cs	$496,000	+53.6%	9,108	+89.4%	0.47%	+78.1%
HYH	Buy	Halyard Healthcs	$492,000	-8.9%	17,307	+29.8%	0.47%	+5.9%
FSLR	Buy	First Solarcs	$483,000	+22.3%	11,300	+34.5%	0.46%	+42.0%
LCI	New	Lannettcs	$475,000	–	11,440	–	0.45%	–
PII	New	Polaris Industriescs	$473,000	–	3,950	–	0.45%	–
K	Sell	Kelloggcs	$471,000	-36.2%	7,072	-39.9%	0.45%	-26.0%
PKI	New	PerkinElmer, Inc.cs	$466,000	–	10,150	–	0.44%	–
GOOG	New	Alphabet Inc Class Ccs	$465,000	–	765	–	0.44%	–
PRXL	Sell	Parexel International Corpcs	$457,000	-11.9%	7,375	-8.7%	0.44%	+2.4%
CL	New	Colgate-Palmolivecs	$454,000	–	7,150	–	0.43%	–
FLR	Buy	Fluorcs	$441,000	-19.7%	10,404	+0.5%	0.42%	-6.7%
CNBKA	Sell	Century Bancorpcs	$440,000	-0.7%	10,795	-0.9%	0.42%	+15.4%
TGT	New	Targetcs	$425,000	–	5,400	–	0.40%	–
CSCO	Sell	Cisco Systemscs	$421,000	-53.1%	16,025	-51.0%	0.40%	-45.5%
GSK	Sell	GlaxoSmithKlinecs	$417,000	-57.5%	10,850	-54.0%	0.40%	-50.7%
PKG	Sell	Packaging Corp of Americacs	$414,000	-27.6%	6,875	-24.9%	0.39%	-16.0%
GOOGL	New	Alphabet Inc Class Acs	$412,000	–	645	–	0.39%	–
STJ	New	St. Jude Medicalcs	$405,000	–	6,425	–	0.38%	–
SBUX	Sell	Starbuckscs	$404,000	-25.5%	7,100	-29.7%	0.38%	-13.5%
ANTM	New	Anthemcs	$392,000	–	2,800	–	0.37%	–
WSM	New	Williams Sonomacs	$389,000	–	5,100	–	0.37%	–
PCRX	Sell	Pacira Pharmaceuticalscs	$389,000	-43.6%	9,460	-3.1%	0.37%	-34.5%
EOG	Sell	EOG Resourcescs	$389,000	-41.9%	5,345	-30.1%	0.37%	-32.5%
DRI	New	Darden Restaurantscs	$387,000	–	5,650	–	0.37%	–
BDC	Sell	Belden Inc.cs	$385,000	-59.5%	8,250	-29.5%	0.37%	-53.0%
PSGLQ	Buy	Performance Sports Groupcs	$384,000	+17.8%	28,650	+58.3%	0.36%	+36.7%
ABAX	New	Abaxiscs	$383,000	–	8,700	–	0.36%	–
FDX	Buy	FedExcs	$367,000	+34.4%	2,550	+59.4%	0.35%	+55.8%
BMR	Sell	Biomed Realty Trustcs	$361,000	-0.3%	18,050	-3.5%	0.34%	+15.8%
WM	New	Waste Management Inc.cs	$361,000	–	7,250	–	0.34%	–
VEEV	New	Veeva Systems Inccs	$353,000	–	15,100	–	0.34%	–
ESRX	Buy	Express Scriptscs	$352,000	-2.2%	4,350	+7.4%	0.34%	+13.6%
FAST	Sell	Fastenalcs	$350,000	-70.3%	9,549	-65.8%	0.33%	-65.5%
KEY	New	KeyCorpcs	$345,000	–	26,500	–	0.33%	–
BNS	Sell	Bank of Nova Scotiacs	$343,000	-25.9%	7,775	-13.4%	0.33%	-14.0%
BXLT	New	Baxalta Inccs	$339,000	–	10,774	–	0.32%	–
ALGN	Sell	Align Technologycs	$336,000	-13.4%	5,915	-4.4%	0.32%	+0.6%
QSR	Sell	Restaurant Brands Int'lcs	$332,000	-32.0%	9,256	-27.5%	0.32%	-21.0%
V	New	Visacs	$309,000	–	4,435	–	0.29%	–
ROL	New	Rollinscs	$304,000	–	11,300	–	0.29%	–
ZBH	New	Zimmer Biometcs	$301,000	–	3,200	–	0.29%	–
THRM	Sell	Gentherm Inc.cs	$298,000	-30.9%	6,645	-15.3%	0.28%	-19.5%
PX	New	Praxaircs	$290,000	–	2,850	–	0.28%	–
UFI	Sell	Unifi, Inc.cs	$287,000	-11.7%	9,625	-0.8%	0.27%	+2.6%
FINL	New	Finish Line Inccs	$276,000	–	14,300	–	0.26%	–
HSBCPRA	Sell	HSBC Holdings Pfd Acs	$268,000	-0.7%	10,600	-0.9%	0.26%	+15.4%
BIIB	Buy	Biogen Ideccs	$263,000	-7.1%	900	+28.6%	0.25%	+7.8%
M	New	Macy's Inc.cs	$262,000	–	5,100	–	0.25%	–
ACHC	New	Acadia Healthcarecs	$258,000	–	3,900	–	0.25%	–
VDSI	New	VASCO Data Security Int'l Inc.cs	$258,000	–	15,151	–	0.25%	–
EL	New	Estee Laudercs	$250,000	–	3,100	–	0.24%	–
JAH	New	Jarden Corp.cs	$249,000	–	5,100	–	0.24%	–
HON	Sell	Honeywell Int'l.cs	$240,000	-59.7%	2,537	-56.5%	0.23%	-53.3%
SWKS	New	Skyworks Solutions Inccs	$236,000	–	2,800	–	0.22%	–
BMO	Sell	Bank of Montrealcs	$236,000	-9.9%	4,325	-2.3%	0.22%	+4.7%
HES	New	Hess Corporationcs	$235,000	–	4,700	–	0.22%	–
AKRXQ	New	Akorn, Inc.cs	$232,000	–	8,150	–	0.22%	–
SNDK	Sell	SanDisk Corp.cs	$231,000	-38.7%	4,250	-34.4%	0.22%	-28.8%
RTN	Sell	Raytheoncs	$219,000	-29.1%	2,000	-38.0%	0.21%	-17.8%
UAL	Sell	United Continental Holdingscs	$218,000	-2.2%	4,100	-2.4%	0.21%	+13.1%
DFS	Buy	Discover Financial Servicescs	$217,000	+2.4%	4,175	+13.6%	0.21%	+18.4%
HFC	Sell	HollyFrontiercs	$217,000	-64.5%	4,450	-68.9%	0.21%	-58.9%
STT	New	State Streetcs	$212,000	–	3,160	–	0.20%	–
SYNA	New	Synapticscs	$202,000	–	2,450	–	0.19%	–
MRO	Sell	Marathon Oilcs	$159,000	-43.0%	10,300	-1.9%	0.15%	-34.1%
SUNEQ	New	Sunedison Inccs	$89,000	–	12,400	–	0.08%	–
RUBI	Exit	The Rubicon Project Inccs	$0	–	-11,350	–	-0.14%	–
HWAY	Exit	Healthways, Inc.cs	$0	–	-15,400	–	-0.15%	–
PSX	Exit	Phillips 66cs	$0	–	-2,500	–	-0.16%	–
AZN	Exit	Astrazenecacs	$0	–	-3,300	–	-0.17%	–
GOOGL	Exit	Google Inc Class Acs	$0	–	-390	–	-0.17%	–
BHE	Exit	Benchmark Electronicscs	$0	–	-9,700	–	-0.17%	–
STLD	Exit	Steel Dynamicscs	$0	–	-10,225	–	-0.17%	–
AMN	Exit	AMN Healthcare Servicescs	$0	–	-6,782	–	-0.18%	–
FBHS	Exit	Fortune Brands & Home Securitycs	$0	–	-4,800	–	-0.18%	–
CFR	Exit	Cullen/Frost Bankerscs	$0	–	-2,800	–	-0.18%	–
VSAT	Exit	ViaSat, Inc.cs	$0	–	-3,700	–	-0.18%	–
AMSG	Exit	Amsurg Corpcs	$0	–	-3,250	–	-0.19%	–
FLTX	Exit	FleetMatics Group PLCcs	$0	–	-4,900	–	-0.19%	–
NVO	Exit	Novo Nordiskcs	$0	–	-4,300	–	-0.19%	–
RDSA	Exit	Royal Dutchcs	$0	–	-4,230	–	-0.20%	–
MMP	Exit	Magellan Midstream Partners, Lcs	$0	–	-3,275	–	-0.20%	–
FULT	Exit	Fulton Financialcs	$0	–	-19,550	–	-0.21%	–
SIGI	Exit	Selective Insurance Groupcs	$0	–	-9,600	–	-0.22%	–
IP	Exit	International Papercs	$0	–	-5,900	–	-0.23%	–
FUL	Exit	HB Fullercs	$0	–	-7,000	–	-0.23%	–
CLR	Exit	Continental Resources, Inc.cs	$0	–	-7,150	–	-0.25%	–
LUV	Exit	Southwest Airlinescs	$0	–	-9,250	–	-0.25%	–
LEN	Exit	Lennarcs	$0	–	-6,220	–	-0.26%	–
LOW	Exit	Lowescs	$0	–	-4,851	–	-0.27%	–
ALKS	Exit	Alkermes Plccs	$0	–	-5,100	–	-0.27%	–
ADBE	Exit	Adobe Systemscs	$0	–	-4,350	–	-0.29%	–
GOOG	Exit	Google Inc Class Ccs	$0	–	-715	–	-0.30%	–
GIL	Exit	Gildan Activewearcs	$0	–	-11,900	–	-0.32%	–
CMI	Exit	Cumminscs	$0	–	-3,050	–	-0.33%	–
SNN	Exit	Smith & Nephewcs	$0	–	-11,800	–	-0.33%	–
LSTR	Exit	Landstar Systemcs	$0	–	-6,050	–	-0.33%	–
BERY	Exit	Berry Plastics Groupcs	$0	–	-12,575	–	-0.33%	–
UAA	Exit	Under Armour, Inc.cs	$0	–	-5,075	–	-0.35%	–
MLM	Exit	Martin Marietta Materials, Inccs	$0	–	-3,250	–	-0.38%	–
TAP	Exit	Molson Coors Brewingcs	$0	–	-6,775	–	-0.39%	–
KLAC	Exit	KLA Tencorcs	$0	–	-8,470	–	-0.39%	–
KORS	Exit	Michael Korscs	$0	–	-14,000	–	-0.48%	–
UL	Exit	Unilevercs	$0	–	-13,900	–	-0.49%	–
LB	Exit	L Brands Inccs	$0	–	-7,150	–	-0.50%	–
VIAB	Exit	Viacom Cl Bcs	$0	–	-10,250	–	-0.54%	–
GNRC	Exit	Generac Holdingscs	$0	–	-17,175	–	-0.56%	–
SRCL	Exit	Stericycle, Inccs	$0	–	-5,425	–	-0.60%	–
LAZ	Exit	Lazardcs	$0	–	-13,053	–	-0.60%	–
WBA	Exit	Walgreens Boots Alliancecs	$0	–	-9,325	–	-0.64%	–
CNW	Exit	Con-waycs	$0	–	-25,625	–	-0.80%	–
AVT	Exit	Avnetcs	$0	–	-24,075	–	-0.81%	–
PLL	Exit	Pallcs	$0	–	-8,479	–	-0.86%	–
BK	Exit	Bank of NY Melloncs	$0	–	-26,600	–	-0.91%	–
BAX	Exit	Baxter Internationalcs	$0	–	-18,049	–	-1.03%	–
UPS	Exit	UPScs	$0	–	-15,900	–	-1.26%	–

Q2 2015

			Value		Shares		↓ Weighting
CHD	New	Church and Dwightcs	$5,006,000	–	61,700	–	4.10%	–
JNJ	New	Johnson & Johnsoncs	$3,124,000	–	32,058	–	2.56%	–
AMGN	New	Amgencs	$2,468,000	–	16,075	–	2.02%	–
XOM	New	Exxon Mobilcs	$2,305,000	–	27,703	–	1.89%	–
GE	New	General Electriccs	$2,273,000	–	85,555	–	1.86%	–
KMB	New	Kimberly Clarkcs	$2,126,000	–	20,065	–	1.74%	–
MRK	New	Merckcs	$1,866,000	–	32,769	–	1.53%	–
CELG	New	Celgenecs	$1,859,000	–	16,065	–	1.52%	–
SYY	New	Sysco Corpcs	$1,580,000	–	43,770	–	1.30%	–
AB	New	AllianceBernstein Holdingscs	$1,571,000	–	53,211	–	1.29%	–
UPS	New	UPScs	$1,541,000	–	15,900	–	1.26%	–
BBT	New	BB&Tcs	$1,541,000	–	38,240	–	1.26%	–
UTX	New	United Technologiescs	$1,424,000	–	12,835	–	1.17%	–
STX	New	Seagate Technology PCcs	$1,394,000	–	29,350	–	1.14%	–
URI	New	United Rentals, Inc.cs	$1,382,000	–	15,775	–	1.13%	–
EMR	New	Emerson Electriccs	$1,351,000	–	24,370	–	1.11%	–
COST	New	Costco Wholesalecs	$1,280,000	–	9,475	–	1.05%	–
BAX	New	Baxter Internationalcs	$1,262,000	–	18,049	–	1.03%	–
PG	New	Procter & Gamblecs	$1,255,000	–	16,044	–	1.03%	–
PB	New	Prosperity Bancshares, Inc.cs	$1,228,000	–	21,275	–	1.01%	–
CSX	New	CSX Corpcs	$1,221,000	–	37,395	–	1.00%	–
AXP	New	American Expresscs	$1,220,000	–	15,700	–	1.00%	–
INTC	New	Intelcs	$1,212,000	–	39,858	–	0.99%	–
FAST	New	Fastenalcs	$1,179,000	–	27,949	–	0.97%	–
PFE	New	Pfizercs	$1,174,000	–	35,014	–	0.96%	–
DD	New	Dupontcs	$1,170,000	–	18,300	–	0.96%	–
MSFT	New	Microsoftcs	$1,132,000	–	25,648	–	0.93%	–
EAT	New	Brinker Internationalcs	$1,124,000	–	19,491	–	0.92%	–
EMC	New	EMCcs	$1,122,000	–	42,525	–	0.92%	–
BK	New	Bank of NY Melloncs	$1,116,000	–	26,600	–	0.91%	–
CP	New	Canadian Pacificcs	$1,106,000	–	6,903	–	0.91%	–
KMI	New	Kinder Morgan Inccs	$1,090,000	–	28,394	–	0.89%	–
MMM	New	3M Corp.cs	$1,087,000	–	7,043	–	0.89%	–
PLL	New	Pallcs	$1,055,000	–	8,479	–	0.86%	–
IHG	New	InterContinental Hotelscs	$1,047,000	–	25,868	–	0.86%	–
AVT	New	Avnetcs	$990,000	–	24,075	–	0.81%	–
CNW	New	Con-waycs	$983,000	–	25,625	–	0.80%	–
GSK	New	GlaxoSmithKlinecs	$982,000	–	23,584	–	0.80%	–
MDT	New	Medtronic PLCcs	$975,000	–	13,160	–	0.80%	–
IBM	New	Int'l Bus. Mach.cs	$962,000	–	5,915	–	0.79%	–
INDB	New	Independent Bankcs	$951,000	–	20,278	–	0.78%	–
BDC	New	Belden Inc.cs	$950,000	–	11,700	–	0.78%	–
MYL	New	Mylan Labscs	$931,000	–	13,725	–	0.76%	–
GILD	New	Gilead Sciencescs	$919,000	–	7,850	–	0.75%	–
ADI	New	Analog Devicescs	$913,000	–	14,225	–	0.75%	–
CSCO	New	Cisco Systemscs	$898,000	–	32,696	–	0.74%	–
TRN	New	Trinity Industriescs	$897,000	–	33,950	–	0.74%	–
NKE	New	Nike Inc Class Bcs	$886,000	–	8,201	–	0.73%	–
SLB	New	Schlumbergercs	$871,000	–	10,107	–	0.71%	–
AAL	New	American Airlines Group Inc.cs	$844,000	–	21,125	–	0.69%	–
BA	New	Boeingcs	$843,000	–	6,077	–	0.69%	–
SAVE	New	Spirit Airlinescs	$838,000	–	13,500	–	0.69%	–
GPS	New	The Gap Inc.cs	$830,000	–	21,750	–	0.68%	–
AAPL	New	Apple Computercs	$827,000	–	6,597	–	0.68%	–
ABT	New	Abbott Labscs	$826,000	–	16,827	–	0.68%	–
KSU	New	Kansas City So.cs	$819,000	–	8,978	–	0.67%	–
AKAM	New	Akamai Technologiescs	$815,000	–	11,675	–	0.67%	–
ETN	New	Eatoncs	$815,000	–	12,075	–	0.67%	–
NSC	New	Norfolk Southerncs	$791,000	–	9,050	–	0.65%	–
WBA	New	Walgreens Boots Alliancecs	$787,000	–	9,325	–	0.64%	–
TOL	New	Toll Brotherscs	$756,000	–	19,800	–	0.62%	–
K	New	Kelloggcs	$738,000	–	11,773	–	0.60%	–
LAZ	New	Lazardcs	$734,000	–	13,053	–	0.60%	–
SRCL	New	Stericycle, Inccs	$726,000	–	5,425	–	0.60%	–
BRKB	New	Berkshire Hathaway Bcs	$697,000	–	5,123	–	0.57%	–
BMY	New	Bristol Myers Squibbcs	$692,000	–	10,400	–	0.57%	–
T	New	A T & Tcs	$691,000	–	19,450	–	0.57%	–
PCRX	New	Pacira Pharmaceuticalscs	$690,000	–	9,760	–	0.56%	–
SMCI	New	Super Micro Computercs	$684,000	–	23,115	–	0.56%	–
GNRC	New	Generac Holdingscs	$683,000	–	17,175	–	0.56%	–
WWAV	New	WhiteWave Foodscs	$677,000	–	13,850	–	0.56%	–
UNP	New	Union Pacificcs	$673,000	–	7,060	–	0.55%	–
EOG	New	EOG Resourcescs	$669,000	–	7,645	–	0.55%	–
VIAB	New	Viacom Cl Bcs	$663,000	–	10,250	–	0.54%	–
PEP	New	Pepsicocs	$653,000	–	6,999	–	0.54%	–
MHK	New	Mohawk Industriescs	$649,000	–	3,400	–	0.53%	–
WFC	New	Wells Fargocs	$626,000	–	11,122	–	0.51%	–
QCOM	New	Qualcommcs	$622,000	–	9,925	–	0.51%	–
LB	New	L Brands Inccs	$613,000	–	7,150	–	0.50%	–
HFC	New	HollyFrontiercs	$611,000	–	14,303	–	0.50%	–
TD	New	Toronto-Dominion Bankcs	$610,000	–	14,350	–	0.50%	–
UL	New	Unilevercs	$597,000	–	13,900	–	0.49%	–
HON	New	Honeywell Int'l.cs	$595,000	–	5,837	–	0.49%	–
KORS	New	Michael Korscs	$589,000	–	14,000	–	0.48%	–
PKG	New	Packaging Corp of Americacs	$572,000	–	9,150	–	0.47%	–
WHR	New	Whirlpoolcs	$567,000	–	3,275	–	0.46%	–
FLR	New	Fluorcs	$549,000	–	10,354	–	0.45%	–
SBUX	New	Starbuckscs	$542,000	–	10,100	–	0.44%	–
HYH	New	Halyard Healthcs	$540,000	–	13,332	–	0.44%	–
DVA	New	DaVita Inc.cs	$532,000	–	6,700	–	0.44%	–
PRXL	New	Parexel International Corpcs	$519,000	–	8,075	–	0.42%	–
ZTS	New	Zoetis Inccs	$511,000	–	10,600	–	0.42%	–
QSR	New	Restaurant Brands Int'lcs	$488,000	–	12,767	–	0.40%	–
KLAC	New	KLA Tencorcs	$476,000	–	8,470	–	0.39%	–
TAP	New	Molson Coors Brewingcs	$473,000	–	6,775	–	0.39%	–
CHMT	New	Chemtura Corpcs	$464,000	–	16,400	–	0.38%	–
BNS	New	Bank of Nova Scotiacs	$463,000	–	8,975	–	0.38%	–
MLM	New	Martin Marietta Materials, Inccs	$460,000	–	3,250	–	0.38%	–
APD	New	Air Prod.& Chem.cs	$452,000	–	3,300	–	0.37%	–
MJN	New	Mead Johnson Nutrition Cocs	$449,000	–	4,975	–	0.37%	–
CNBKA	New	Century Bancorpcs	$443,000	–	10,895	–	0.36%	–
WYND	New	Wyndham Worldwidecs	$442,000	–	5,400	–	0.36%	–
KO	New	Coca-Colacs	$440,000	–	11,223	–	0.36%	–
BLK	New	Blackrockcs	$439,000	–	1,269	–	0.36%	–
THRM	New	Gentherm Inc.cs	$431,000	–	7,845	–	0.35%	–
UAA	New	Under Armour, Inc.cs	$423,000	–	5,075	–	0.35%	–
BERY	New	Berry Plastics Groupcs	$407,000	–	12,575	–	0.33%	–
LSTR	New	Landstar Systemcs	$405,000	–	6,050	–	0.33%	–
SNN	New	Smith & Nephewcs	$401,000	–	11,800	–	0.33%	–
MS	New	Morgan Stanleycs	$402,000	–	10,364	–	0.33%	–
CMI	New	Cumminscs	$400,000	–	3,050	–	0.33%	–
GIL	New	Gildan Activewearcs	$396,000	–	11,900	–	0.32%	–
FSLR	New	First Solarcs	$395,000	–	8,400	–	0.32%	–
ALGN	New	Align Technologycs	$388,000	–	6,190	–	0.32%	–
WPC	New	W.P. Carey & Co.cs	$382,000	–	6,484	–	0.31%	–
BBBY	New	Bed Bath & Beyondcs	$378,000	–	5,475	–	0.31%	–
SNDK	New	SanDisk Corp.cs	$377,000	–	6,475	–	0.31%	–
GOOG	New	Google Inc Class Ccs	$372,000	–	715	–	0.30%	–
BMR	New	Biomed Realty Trustcs	$362,000	–	18,700	–	0.30%	–
ESRX	New	Express Scriptscs	$360,000	–	4,050	–	0.30%	–
ADBE	New	Adobe Systemscs	$352,000	–	4,350	–	0.29%	–
ALKS	New	Alkermes Plccs	$328,000	–	5,100	–	0.27%	–
PSGLQ	New	Performance Sports Groupcs	$326,000	–	18,100	–	0.27%	–
LOW	New	Lowescs	$325,000	–	4,851	–	0.27%	–
UFI	New	Unifi, Inc.cs	$325,000	–	9,700	–	0.27%	–
ABBV	New	AbbVie Inc.cs	$323,000	–	4,808	–	0.26%	–
LEN	New	Lennarcs	$317,000	–	6,220	–	0.26%	–
PVTB	New	Private Bancorpcs	$317,000	–	7,950	–	0.26%	–
RTN	New	Raytheoncs	$309,000	–	3,225	–	0.25%	–
LUV	New	Southwest Airlinescs	$306,000	–	9,250	–	0.25%	–
WMT	New	Wal-Mart Storescs	$303,000	–	4,269	–	0.25%	–
CLR	New	Continental Resources, Inc.cs	$303,000	–	7,150	–	0.25%	–
SIAL	New	Sigma-Aldrichcs	$302,000	–	2,168	–	0.25%	–
MCD	New	McDonald'scs	$297,000	–	3,120	–	0.24%	–
STTPRCCL	New	State Street Preferred Ccs	$290,000	–	11,900	–	0.24%	–
APC	New	Anadarko Petroleumcs	$289,000	–	3,700	–	0.24%	–
FUL	New	HB Fullercs	$284,000	–	7,000	–	0.23%	–
BIIB	New	Biogen Ideccs	$283,000	–	700	–	0.23%	–
IP	New	International Papercs	$281,000	–	5,900	–	0.23%	–
MRO	New	Marathon Oilcs	$279,000	–	10,500	–	0.23%	–
TNET	New	TriNet Groupcs	$279,000	–	11,000	–	0.23%	–
SYMC	New	Symanteccs	$274,000	–	11,800	–	0.22%	–
FDX	New	FedExcs	$273,000	–	1,600	–	0.22%	–
HSBCPRA	New	HSBC Holdings Pfd Acs	$270,000	–	10,700	–	0.22%	–
SIGI	New	Selective Insurance Groupcs	$269,000	–	9,600	–	0.22%	–
BMO	New	Bank of Montrealcs	$262,000	–	4,425	–	0.22%	–
NEE	New	NextEra Energy Inc.cs	$260,000	–	2,650	–	0.21%	–
FULT	New	Fulton Financialcs	$255,000	–	19,550	–	0.21%	–
	New	*Westshore Terminals Investmencs	$244,000	–	10,000	–	0.20%	–
RDSA	New	Royal Dutchcs	$241,000	–	4,230	–	0.20%	–
MMP	New	Magellan Midstream Partners, Lcs	$240,000	–	3,275	–	0.20%	–
NVO	New	Novo Nordiskcs	$235,000	–	4,300	–	0.19%	–
FLTX	New	FleetMatics Group PLCcs	$229,000	–	4,900	–	0.19%	–
AMSG	New	Amsurg Corpcs	$227,000	–	3,250	–	0.19%	–
VSAT	New	ViaSat, Inc.cs	$223,000	–	3,700	–	0.18%	–
UAL	New	United Continental Holdingscs	$223,000	–	4,200	–	0.18%	–
SNY	New	Sanofics	$223,000	–	4,500	–	0.18%	–
FBHS	New	Fortune Brands & Home Securitycs	$220,000	–	4,800	–	0.18%	–
CFR	New	Cullen/Frost Bankerscs	$220,000	–	2,800	–	0.18%	–
AMN	New	AMN Healthcare Servicescs	$214,000	–	6,782	–	0.18%	–
DFS	New	Discover Financial Servicescs	$212,000	–	3,675	–	0.17%	–
STLD	New	Steel Dynamicscs	$212,000	–	10,225	–	0.17%	–
GOOGL	New	Google Inc Class Acs	$211,000	–	390	–	0.17%	–
BHE	New	Benchmark Electronicscs	$211,000	–	9,700	–	0.17%	–
AZN	New	Astrazenecacs	$210,000	–	3,300	–	0.17%	–
PSX	New	Phillips 66cs	$201,000	–	2,500	–	0.16%	–
HWAY	New	Healthways, Inc.cs	$184,000	–	15,400	–	0.15%	–
RUBI	New	The Rubicon Project Inccs	$170,000	–	11,350	–	0.14%	–
	New	NagaCorp Ltdcs	$148,000	–	201,319	–	0.12%	–
	New	Restaurant Brands NZ Ltdcs	$131,000	–	45,000	–	0.11%	–
	New	*Huadian Power International Ccs	$44,000	–	40,000	–	0.04%	–
	New	Kingmaker Footwear Holdingscs	$24,000	–	120,000	–	0.02%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
	Exit	The FRS Companycs	$0	–	-114,324	–	0.00%	–
	Exit	Fract Kinder Morgan Mgtcs	$0	–	-55,333	–	0.00%	–
UNP	Exit	Union Pacificcs	$0	–	-210	–	-0.02%	–
APA	Exit	Apachecs	$0	–	-825	–	-0.07%	–
APC	Exit	Anadarko Petroleumcs	$0	–	-1,350	–	-0.12%	–
RTN	Exit	Raytheoncs	$0	–	-1,600	–	-0.14%	–
PFSI	Exit	PennyMac Financial Servicescs	$0	–	-11,200	–	-0.14%	–
RF	Exit	Regions Financialcs	$0	–	-18,200	–	-0.16%	–
WMT	Exit	Wal-Mart Storescs	$0	–	-2,419	–	-0.16%	–
ZTS	Exit	Zoetis Inccs	$0	–	-5,450	–	-0.18%	–
AZN	Exit	Astrazenecacs	$0	–	-3,050	–	-0.19%	–
HOSSQ	Exit	Hornbeck Offshore Servicescs	$0	–	-6,800	–	-0.20%	–
TGT	Exit	Targetcs	$0	–	-3,650	–	-0.20%	–
AKAM	Exit	Akamai Technologiescs	$0	–	-3,900	–	-0.20%	–
RYL	Exit	Ryland Groupcs	$0	–	-6,975	–	-0.20%	–
UPLMQ	Exit	Ultra Petroleumcs	$0	–	-10,200	–	-0.21%	–
ADBE	Exit	Adobe Systemscs	$0	–	-3,425	–	-0.21%	–
PVTB	Exit	Private Bancorpcs	$0	–	-7,950	–	-0.21%	–
PXD	Exit	Pioneer Natural Resourcescs	$0	–	-1,225	–	-0.21%	–
BHE	Exit	Benchmark Electronicscs	$0	–	-10,825	–	-0.21%	–
KN	Exit	Knowles Corpcs	$0	–	-9,156	–	-0.21%	–
BIP	Exit	Brookfield Infrastructure Partcs	$0	–	-6,450	–	-0.21%	–
GWR	Exit	Genesee and Wyomingcs	$0	–	-2,625	–	-0.22%	–
INTC	Exit	Intelcs	$0	–	-7,550	–	-0.23%	–
BMR	Exit	Biomed Realty Trustcs	$0	–	-13,150	–	-0.23%	–
EMC	Exit	EMCcs	$0	–	-9,200	–	-0.24%	–
HSBCPRA	Exit	HSBC Holdings Pfd Acs	$0	–	-10,750	–	-0.24%	–
VZ	Exit	Verizon Comm.cs	$0	–	-5,450	–	-0.24%	–
STTPRCCL	Exit	State Street Preferred Ccs	$0	–	-11,900	–	-0.24%	–
NBL	Exit	Noble Energycs	$0	–	-4,150	–	-0.25%	–
EQT	Exit	EQT Corpcs	$0	–	-3,203	–	-0.26%	–
LECO	Exit	Lincoln Electric Holdingscs	$0	–	-4,250	–	-0.26%	–
SIAL	Exit	Sigma-Aldrichcs	$0	–	-2,168	–	-0.26%	–
NEE	Exit	NextEra Energy Inc.cs	$0	–	-3,150	–	-0.26%	–
FRC	Exit	First Republic Bankcs	$0	–	-5,975	–	-0.26%	–
DVA	Exit	DaVita Inc.cs	$0	–	-4,200	–	-0.27%	–
PRXL	Exit	Parexel International Corpcs	$0	–	-4,875	–	-0.27%	–
TOL	Exit	Toll Brotherscs	$0	–	-10,050	–	-0.27%	–
9207PS	Exit	Rock-Tenn Companycs	$0	–	-6,800	–	-0.28%	–
TXT	Exit	Textroncs	$0	–	-9,030	–	-0.28%	–
JWN	Exit	Nordstromcs	$0	–	-4,779	–	-0.28%	–
KMR	Exit	Kinder Morgan Managementcs	$0	–	-3,592	–	-0.30%	–
STT	Exit	State Streetcs	$0	–	-4,675	–	-0.30%	–
PNR	Exit	Pentaircs	$0	–	-5,350	–	-0.31%	–
PCP	Exit	Precision Castpartscs	$0	–	-1,500	–	-0.31%	–
CVX	Exit	Chevron Corporationcs	$0	–	-2,975	–	-0.31%	–
NEBLQ	Exit	Noble Corp PLCcs	$0	–	-15,975	–	-0.31%	–
COH	Exit	Coach, Inc.cs	$0	–	-10,040	–	-0.31%	–
DRQ	Exit	Dril-Quipcs	$0	–	-4,050	–	-0.32%	–
VIAB	Exit	Viacom Cl Bcs	$0	–	-4,975	–	-0.33%	–
PCYC	Exit	Pharmacyclics, Inc.cs	$0	–	-3,275	–	-0.34%	–
CNBKA	Exit	Century Bancorpcs	$0	–	-11,145	–	-0.34%	–
POT	Exit	Potash Saskatchewancs	$0	–	-11,200	–	-0.34%	–
FULT	Exit	Fulton Financialcs	$0	–	-34,950	–	-0.34%	–
CMI	Exit	Cumminscs	$0	–	-2,975	–	-0.34%	–
CP	Exit	Canadian Pacificcs	$0	–	-1,917	–	-0.35%	–
MDLZ	Exit	Mondelez Internationalcs	$0	–	-11,650	–	-0.35%	–
GNRC	Exit	Generac Holdingscs	$0	–	-10,100	–	-0.36%	–
AAPL	Exit	Apple Computercs	$0	–	-4,067	–	-0.36%	–
PEP	Exit	Pepsicocs	$0	–	-4,400	–	-0.36%	–
WPC	Exit	W.P. Carey & Co.cs	$0	–	-6,484	–	-0.36%	–
ORCL	Exit	Oracle Systemscs	$0	–	-10,850	–	-0.36%	–
BHI	Exit	Baker Hughescs	$0	–	-6,600	–	-0.37%	–
NSC	Exit	Norfolk Southerncs	$0	–	-4,050	–	-0.40%	–
YUM	Exit	Yum Brands Inc.cs	$0	–	-6,425	–	-0.40%	–
ANSS	Exit	Ansys, Inc.cs	$0	–	-6,350	–	-0.42%	–
TROW	Exit	T. R. Pricecs	$0	–	-6,150	–	-0.42%	–
CNW	Exit	Con-waycs	$0	–	-10,200	–	-0.42%	–
LULU	Exit	Lululemon Athleticacs	$0	–	-11,725	–	-0.43%	–
TNET	Exit	TriNet Groupcs	$0	–	-19,200	–	-0.43%	–
SU	Exit	Suncor Energycs	$0	–	-13,700	–	-0.43%	–
ABBV	Exit	AbbVie Inc.cs	$0	–	-8,608	–	-0.43%	–
MA	Exit	Mastercard Inccs	$0	–	-6,800	–	-0.44%	–
NTAP	Exit	NetApp Inc.cs	$0	–	-11,900	–	-0.45%	–
K	Exit	Kelloggcs	$0	–	-8,473	–	-0.46%	–
GWW	Exit	W.W. Grainger, Inccs	$0	–	-2,125	–	-0.47%	–
IDXX	Exit	Idexx Laboratoriescs	$0	–	-4,600	–	-0.47%	–
BMY	Exit	Bristol Myers Squibbcs	$0	–	-10,600	–	-0.47%	–
ALK	Exit	Alaska Aircs	$0	–	-12,600	–	-0.48%	–
MHK	Exit	Mohawk Industriescs	$0	–	-4,150	–	-0.49%	–
MSFT	Exit	Microsoftcs	$0	–	-12,175	–	-0.49%	–
MCD	Exit	McDonald'scs	$0	–	-6,085	–	-0.50%	–
CBI	Exit	Chicago Bridge & Ironcs	$0	–	-10,150	–	-0.51%	–
CMA	Exit	Comericacs	$0	–	-11,800	–	-0.51%	–
TMST	Exit	Timken Steelcs	$0	–	-12,804	–	-0.52%	–
WAT	Exit	Waterscs	$0	–	-6,025	–	-0.52%	–
BP	Exit	BP P.L.C.cs	$0	–	-13,700	–	-0.53%	–
SBUX	Exit	Starbuckscs	$0	–	-8,100	–	-0.53%	–
AGU	Exit	Agriumcs	$0	–	-7,000	–	-0.54%	–
BA	Exit	Boeingcs	$0	–	-4,900	–	-0.54%	–
MMM	Exit	3M Corp.cs	$0	–	-4,408	–	-0.55%	–
KO	Exit	Coca-Colacs	$0	–	-15,000	–	-0.56%	–
SWN	Exit	Southwestern Energycs	$0	–	-18,950	–	-0.58%	–
SYY	Exit	Sysco Corpcs	$0	–	-17,500	–	-0.58%	–
ROC	Exit	Rockwood Holdings, Inc.cs	$0	–	-8,725	–	-0.58%	–
TIBX	Exit	Tibco Softwarecs	$0	–	-28,450	–	-0.59%	–
CSCO	Exit	Cisco Systemscs	$0	–	-27,925	–	-0.61%	–
VLO	Exit	Valerocs	$0	–	-15,203	–	-0.61%	–
J	Exit	Jacobs Engineeringcs	$0	–	-14,450	–	-0.62%	–
KWR	Exit	Quaker Chemicalcs	$0	–	-9,875	–	-0.62%	–
PDCE	Exit	PDC Energycs	$0	–	-14,075	–	-0.62%	–
UTX	Exit	United Technologiescs	$0	–	-6,763	–	-0.62%	–
DORM	Exit	Dorman Products, Inc.cs	$0	–	-18,050	–	-0.63%	–
BRKB	Exit	Berkshire Hathaway Bcs	$0	–	-5,323	–	-0.64%	–
MYL	Exit	Mylan Labscs	$0	–	-16,365	–	-0.65%	–
CAG	Exit	ConAgra Foodscs	$0	–	-22,550	–	-0.65%	–
ABB	Exit	ABB LTDcs	$0	–	-33,746	–	-0.66%	–
ARG	Exit	Airgas, Inc.cs	$0	–	-6,850	–	-0.66%	–
CSX	Exit	CSX Corpcs	$0	–	-23,745	–	-0.66%	–
FUL	Exit	HB Fullercs	$0	–	-19,193	–	-0.66%	–
DCI	Exit	Donaldson Company Inc.cs	$0	–	-18,900	–	-0.67%	–
ABT	Exit	Abbott Labscs	$0	–	-18,808	–	-0.68%	–
URI	Exit	United Rentals, Inc.cs	$0	–	-7,100	–	-0.69%	–
BDC	Exit	Belden Inc.cs	$0	–	-12,350	–	-0.69%	–
JBHT	Exit	J.B. Hunt Transport Servicescs	$0	–	-10,800	–	-0.70%	–
WST	Exit	West Pharmaceutical Servicescs	$0	–	-17,956	–	-0.70%	–
ADI	Exit	Analog Devicescs	$0	–	-16,600	–	-0.72%	–
NKE	Exit	Nike Inc Class Bcs	$0	–	-9,300	–	-0.72%	–
STI	Exit	SunTrust Bankscs	$0	–	-21,825	–	-0.72%	–
DVN	Exit	Devon Energycs	$0	–	-12,250	–	-0.73%	–
T	Exit	A T & Tcs	$0	–	-23,835	–	-0.73%	–
AGCO	Exit	AGCO Corpcs	$0	–	-18,500	–	-0.73%	–
HON	Exit	Honeywell Int'l.cs	$0	–	-9,050	–	-0.74%	–
ETN	Exit	Eatoncs	$0	–	-13,325	–	-0.74%	–
BAX	Exit	Baxter Internationalcs	$0	–	-12,025	–	-0.75%	–
MDT	Exit	Medtroniccs	$0	–	-13,935	–	-0.75%	–
SLB	Exit	Schlumbergercs	$0	–	-8,590	–	-0.76%	–
BMO	Exit	Bank of Montrealcs	$0	–	-12,000	–	-0.77%	–
FLR	Exit	Fluorcs	$0	–	-13,800	–	-0.80%	–
PFE	Exit	Pfizercs	$0	–	-31,335	–	-0.81%	–
KSU	Exit	Kansas City So.cs	$0	–	-7,675	–	-0.81%	–
AB	Exit	AllianceBernstein Holdingscs	$0	–	-35,905	–	-0.82%	–
FBHS	Exit	Fortune Brands & Home Securitycs	$0	–	-22,875	–	-0.82%	–
DEO	Exit	Diageo PLC ADScs	$0	–	-8,200	–	-0.83%	–
WAG	Exit	Walgreencs	$0	–	-16,250	–	-0.84%	–
PLL	Exit	Pallcs	$0	–	-11,875	–	-0.87%	–
PG	Exit	Procter & Gamblecs	$0	–	-12,030	–	-0.88%	–
UPS	Exit	UPScs	$0	–	-10,420	–	-0.89%	–
ESV	Exit	Ensco Plccs	$0	–	-24,900	–	-0.90%	–
GILD	Exit	Gilead Sciencescs	$0	–	-9,800	–	-0.91%	–
JCI	Exit	Johnson Controlscs	$0	–	-23,975	–	-0.92%	–
MRO	Exit	Marathon Oilcs	$0	–	-28,550	–	-0.94%	–
4945SC	Exit	Kinder Morgan Energycs	$0	–	-11,525	–	-0.94%	–
TKR	Exit	Timkencs	$0	–	-25,630	–	-0.95%	–
GSK	Exit	GlaxoSmithKlinecs	$0	–	-23,820	–	-0.96%	–
KMB	Exit	Kimberly-Clarkcs	$0	–	-10,253	–	-0.96%	–
UL	Exit	Unilevercs	$0	–	-27,050	–	-0.99%	–
AVT	Exit	Avnetcs	$0	–	-27,500	–	-1.00%	–
MRK	Exit	Merckcs	$0	–	-19,336	–	-1.00%	–
BNS	Exit	Bank of Nova Scotiacs	$0	–	-18,900	–	-1.02%	–
BBT	Exit	BB&Tcs	$0	–	-32,515	–	-1.06%	–
IBM	Exit	Int'l Bus. Mach.cs	$0	–	-6,375	–	-1.06%	–
PB	Exit	Prosperity Bancshares, Inc.cs	$0	–	-21,500	–	-1.07%	–
CELG	Exit	Celgenecs	$0	–	-13,430	–	-1.11%	–
AMGN	Exit	Amgencs	$0	–	-9,225	–	-1.13%	–
OXY	Exit	Occidental Petroleumcs	$0	–	-13,800	–	-1.16%	–
HFC	Exit	Holly Frontier Corpcs	$0	–	-31,665	–	-1.21%	–
COP	Exit	ConocoPhillipscs	$0	–	-18,175	–	-1.21%	–
FAST	Exit	Fastenalcs	$0	–	-32,049	–	-1.26%	–
EMR	Exit	Emerson Electriccs	$0	–	-23,096	–	-1.26%	–
CNI	Exit	Canadian Natl Railcs	$0	–	-21,100	–	-1.31%	–
INDB	Exit	Independent Bankcs	$0	–	-42,647	–	-1.33%	–
IHG	Exit	InterContinental Hotelscs	$0	–	-44,230	–	-1.49%	–
GE	Exit	General Electriccs	$0	–	-79,769	–	-1.78%	–
QCOM	Exit	Qualcommcs	$0	–	-28,115	–	-1.84%	–
CHD	Exit	Church and Dwightcs	$0	–	-36,600	–	-2.24%	–
XOM	Exit	Exxon Mobilcs	$0	–	-27,341	–	-2.24%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-28,854	–	-2.68%	–

Q3 2014

			Value		Shares		↓ Weighting
JNJ	Sell	Johnson & Johnsoncs	$3,076,000	-0.2%	28,854	-2.0%	2.68%	-2.7%
XOM	Buy	Exxon Mobilcs	$2,571,000	-3.8%	27,341	+3.0%	2.24%	-6.2%
CHD	Sell	Church and Dwightcs	$2,568,000	-5.4%	36,600	-5.7%	2.24%	-7.8%
QCOM	Buy	Qualcommcs	$2,102,000	+15.8%	28,115	+22.7%	1.84%	+12.9%
GE	Sell	General Electriccs	$2,044,000	-4.2%	79,769	-1.7%	1.78%	-6.6%
IHG	New	InterContinental Hotelscs	$1,710,000	–	44,230	–	1.49%	–
INDB	Buy	Independent Bankcs	$1,523,000	+22.3%	42,647	+31.4%	1.33%	+19.2%
CNI	Sell	Canadian Natl Railcs	$1,497,000	+7.9%	21,100	-1.2%	1.31%	+5.1%
EMR	Buy	Emerson Electriccs	$1,445,000	+12.0%	23,096	+18.8%	1.26%	+9.2%
FAST	Buy	Fastenalcs	$1,439,000	+98.5%	32,049	+118.8%	1.26%	+93.5%
COP	Buy	ConocoPhillipscs	$1,391,000	+15.1%	18,175	+28.9%	1.21%	+12.1%
HFC	Buy	Holly Frontier Corpcs	$1,383,000	+3.9%	31,665	+3.9%	1.21%	+1.3%
OXY	Buy	Occidental Petroleumcs	$1,327,000	+1.4%	13,800	+8.2%	1.16%	-1.2%
AMGN	Sell	Amgencs	$1,296,000	-25.6%	9,225	-37.4%	1.13%	-27.5%
CELG	Sell	Celgenecs	$1,273,000	+9.9%	13,430	-0.4%	1.11%	+7.1%
PB	Buy	Prosperity Bancshares, Inc.cs	$1,229,000	+4.4%	21,500	+14.4%	1.07%	+1.8%
IBM	Sell	Int'l Bus. Mach.cs	$1,210,000	-8.2%	6,375	-12.3%	1.06%	-10.5%
BBT	Buy	BB&Tcs	$1,210,000	+16.5%	32,515	+23.4%	1.06%	+13.5%
BNS	Sell	Bank of Nova Scotiacs	$1,169,000	-8.1%	18,900	-1.0%	1.02%	-10.4%
MRK	Sell	Merckcs	$1,146,000	-2.1%	19,336	-4.4%	1.00%	-4.7%
AVT	Buy	Avnetcs	$1,141,000	+52.7%	27,500	+63.2%	1.00%	+48.9%
KMB	Sell	Kimberly-Clarkcs	$1,103,000	-4.2%	10,253	-0.9%	0.96%	-6.6%
GSK	Buy	GlaxoSmithKlinecs	$1,095,000	+15.5%	23,820	+34.4%	0.96%	+12.6%
4945SC	Sell	Kinder Morgan Energycs	$1,075,000	+8.3%	11,525	-4.6%	0.94%	+5.5%
MRO	Sell	Marathon Oilcs	$1,073,000	-15.3%	28,550	-10.1%	0.94%	-17.4%
JCI	Buy	Johnson Controlscs	$1,055,000	-5.5%	23,975	+7.3%	0.92%	-7.8%
GILD	Sell	Gilead Sciencescs	$1,043,000	+25.2%	9,800	-2.5%	0.91%	+22.0%
ESV	Buy	Ensco Plccs	$1,029,000	-25.1%	24,900	+0.8%	0.90%	-27.0%
UPS	New	UPScs	$1,024,000	–	10,420	–	0.89%	–
PG	Sell	Procter & Gamblecs	$1,007,000	-4.3%	12,030	-10.1%	0.88%	-6.7%
PLL	Buy	Pallcs	$994,000	+128.5%	11,875	+132.8%	0.87%	+122.6%
WAG	New	Walgreencs	$963,000	–	16,250	–	0.84%	–
DEO	Buy	Diageo PLC ADScs	$946,000	+51.6%	8,200	+67.3%	0.83%	+47.8%
FBHS	Sell	Fortune Brands & Home Securitycs	$940,000	-6.7%	22,875	-9.4%	0.82%	-9.1%
AB	Sell	AllianceBernstein Holdingscs	$934,000	-2.1%	35,905	-2.6%	0.82%	-4.6%
KSU	Sell	Kansas City So.cs	$930,000	+2.1%	7,675	-9.4%	0.81%	-0.5%
PFE	Sell	Pfizercs	$927,000	-13.8%	31,335	-13.5%	0.81%	-16.0%
FLR	Buy	Fluorcs	$922,000	-9.2%	13,800	+4.5%	0.80%	-11.4%
BMO	Sell	Bank of Montrealcs	$883,000	-1.7%	12,000	-1.6%	0.77%	-4.1%
SLB	Buy	Schlumbergercs	$874,000	+2.3%	8,590	+18.6%	0.76%	-0.3%
MDT	Sell	Medtroniccs	$863,000	-6.6%	13,935	-3.8%	0.75%	-8.9%
BAX	Sell	Baxter Internationalcs	$863,000	-43.8%	12,025	-43.3%	0.75%	-45.2%
ETN	Buy	Eatoncs	$844,000	+3.7%	13,325	+26.3%	0.74%	+1.1%
HON	Sell	Honeywell Int'l.cs	$843,000	-30.8%	9,050	-30.9%	0.74%	-32.5%
AGCO	Sell	AGCO Corpcs	$841,000	-22.7%	18,500	-4.4%	0.73%	-24.6%
DVN	New	Devon Energycs	$835,000	–	12,250	–	0.73%	–
ADI	New	Analog Devicescs	$822,000	–	16,600	–	0.72%	–
WST	Sell	West Pharmaceutical Servicescs	$804,000	+1.4%	17,956	-4.5%	0.70%	-1.1%
JBHT	New	J.B. Hunt Transport Servicescs	$800,000	–	10,800	–	0.70%	–
BDC	New	Belden Inc.cs	$791,000	–	12,350	–	0.69%	–
URI	Sell	United Rentals, Inc.cs	$789,000	+4.0%	7,100	-2.1%	0.69%	+1.3%
DCI	Sell	Donaldson Company Inc.cs	$768,000	-18.7%	18,900	-15.3%	0.67%	-20.8%
FUL	Buy	HB Fullercs	$762,000	-16.6%	19,193	+1.0%	0.66%	-18.8%
CSX	Sell	CSX Corpcs	$761,000	-1.0%	23,745	-4.8%	0.66%	-3.6%
ARG	Sell	Airgas, Inc.cs	$758,000	-7.2%	6,850	-8.7%	0.66%	-9.6%
ABB	Sell	ABB LTDcs	$756,000	-8.4%	33,746	-5.9%	0.66%	-10.7%
CAG	Sell	ConAgra Foodscs	$745,000	+2.6%	22,550	-7.8%	0.65%	0.0%
MYL	Buy	Mylan Labscs	$744,000	+62.4%	16,365	+84.1%	0.65%	+58.3%
DORM	Buy	Dorman Products, Inc.cs	$723,000	-13.5%	18,050	+6.5%	0.63%	-15.8%
UTX	Buy	United Technologiescs	$714,000	+125.9%	6,763	+147.0%	0.62%	+120.1%
KWR	Buy	Quaker Chemicalcs	$708,000	+197.5%	9,875	+218.5%	0.62%	+190.1%
PDCE	New	PDC Energycs	$708,000	–	14,075	–	0.62%	–
J	Sell	Jacobs Engineeringcs	$705,000	-12.9%	14,450	-4.8%	0.62%	-15.2%
VLO	New	Valerocs	$703,000	–	15,203	–	0.61%	–
CSCO	Buy	Cisco Systemscs	$703,000	+4.5%	27,925	+3.1%	0.61%	+1.8%
TIBX	Sell	Tibco Softwarecs	$672,000	-16.0%	28,450	-28.2%	0.59%	-18.0%
ROC	Buy	Rockwood Holdings, Inc.cs	$667,000	+43.8%	8,725	+43.0%	0.58%	+39.9%
SYY	Sell	Sysco Corpcs	$664,000	-0.9%	17,500	-2.2%	0.58%	-3.3%
SWN	Buy	Southwestern Energycs	$662,000	+16.8%	18,950	+51.9%	0.58%	+13.8%
KO	Sell	Coca-Colacs	$640,000	-32.9%	15,000	-33.4%	0.56%	-34.5%
BA	Buy	Boeingcs	$624,000	+3.3%	4,900	+3.2%	0.54%	+0.7%
SBUX	Sell	Starbuckscs	$611,000	-36.8%	8,100	-35.2%	0.53%	-38.5%
BP	Buy	BP P.L.C.cs	$602,000	+96.7%	13,700	+136.2%	0.53%	+92.0%
WAT	Buy	Waterscs	$597,000	+41.1%	6,025	+48.8%	0.52%	+37.5%
TMST	New	Timken Steelcs	$595,000	–	12,804	–	0.52%	–
CMA	New	Comericacs	$588,000	–	11,800	–	0.51%	–
CBI	Buy	Chicago Bridge & Ironcs	$587,000	+14.0%	10,150	+34.4%	0.51%	+11.1%
MCD	Sell	McDonald'scs	$577,000	-16.9%	6,085	-11.6%	0.50%	-19.0%
MSFT	Sell	Microsoftcs	$564,000	-41.0%	12,175	-46.9%	0.49%	-42.5%
MHK	Sell	Mohawk Industriescs	$560,000	-51.4%	4,150	-50.2%	0.49%	-52.6%
ALK	Buy	Alaska Aircs	$549,000	+20.4%	12,600	+162.5%	0.48%	+17.4%
BMY	Sell	Bristol Myers Squibbcs	$543,000	-8.3%	10,600	-13.1%	0.47%	-10.6%
IDXX	New	Idexx Laboratoriescs	$542,000	–	4,600	–	0.47%	–
GWW	Buy	W.W. Grainger, Inccs	$535,000	+52.9%	2,125	+54.2%	0.47%	+49.2%
K	Sell	Kelloggcs	$522,000	-32.2%	8,473	-27.7%	0.46%	-33.9%
NTAP	Sell	NetApp Inc.cs	$511,000	+14.1%	11,900	-3.1%	0.45%	+11.2%
MA	Buy	Mastercard Inccs	$503,000	+8.6%	6,800	+7.9%	0.44%	+5.8%
ABBV	Sell	AbbVie Inc.cs	$497,000	-3.9%	8,608	-6.0%	0.43%	-6.3%
TNET	New	TriNet Groupcs	$494,000	–	19,200	–	0.43%	–
LULU	Sell	Lululemon Athleticacs	$493,000	-28.7%	11,725	-31.3%	0.43%	-30.5%
CNW	New	Con-waycs	$485,000	–	10,200	–	0.42%	–
ANSS	Sell	Ansys, Inc.cs	$481,000	-3.2%	6,350	-3.1%	0.42%	-5.6%
YUM	New	Yum Brands Inc.cs	$462,000	–	6,425	–	0.40%	–
NSC	Sell	Norfolk Southerncs	$452,000	-7.6%	4,050	-14.7%	0.40%	-9.8%
BHI	New	Baker Hughescs	$429,000	–	6,600	–	0.37%	–
ORCL	New	Oracle Systemscs	$415,000	–	10,850	–	0.36%	–
WPC	Sell	W.P. Carey & Co.cs	$413,000	-4.0%	6,484	-3.0%	0.36%	-6.2%
GNRC	New	Generac Holdingscs	$409,000	–	10,100	–	0.36%	–
MDLZ	New	Mondelez Internationalcs	$399,000	–	11,650	–	0.35%	–
CP	Sell	Canadian Pacificcs	$398,000	+14.0%	1,917	-0.4%	0.35%	+10.9%
CMI	Sell	Cumminscs	$393,000	-19.8%	2,975	-6.3%	0.34%	-21.9%
FULT	Buy	Fulton Financialcs	$387,000	+26.1%	34,950	+41.2%	0.34%	+22.9%
POT	New	Potash Saskatchewancs	$387,000	–	11,200	–	0.34%	–
CNBKA	Buy	Century Bancorpcs	$386,000	+2.7%	11,145	+4.7%	0.34%	0.0%
PCYC	Sell	Pharmacyclics, Inc.cs	$385,000	+26.2%	3,275	-3.7%	0.34%	+23.1%
VIAB	New	Viacom Cl Bcs	$383,000	–	4,975	–	0.33%	–
DRQ	Sell	Dril-Quipcs	$362,000	-20.1%	4,050	-2.4%	0.32%	-22.2%
NEBLQ	Sell	Noble Corp PLCcs	$355,000	-42.6%	15,975	-13.2%	0.31%	-43.9%
PCP	New	Precision Castpartscs	$355,000	–	1,500	–	0.31%	–
CVX	Sell	Chevron Corporationcs	$355,000	-56.1%	2,975	-52.0%	0.31%	-57.2%
PNR	Buy	Pentaircs	$350,000	+31.1%	5,350	+44.6%	0.31%	+28.0%
STT	Sell	State Streetcs	$344,000	-66.0%	4,675	-68.9%	0.30%	-66.9%
KMR	Buy	Kinder Morgan Managementcs	$338,000	+21.1%	3,592	+1.5%	0.30%	+18.0%
JWN	Sell	Nordstromcs	$327,000	-45.6%	4,779	-46.0%	0.28%	-47.0%
TXT	New	Textroncs	$325,000	–	9,030	–	0.28%	–
9207PS	Buy	Rock-Tenn Companycs	$324,000	-41.0%	6,800	+30.8%	0.28%	-42.5%
TOL	Buy	Toll Brotherscs	$313,000	-12.6%	10,050	+3.6%	0.27%	-15.0%
PRXL	Sell	Parexel International Corpcs	$308,000	+17.1%	4,875	-2.0%	0.27%	+14.0%
DVA	Sell	DaVita Inc.cs	$307,000	-5.5%	4,200	-6.7%	0.27%	-7.9%
FRC	New	First Republic Bankcs	$295,000	–	5,975	–	0.26%	–
NEE	Sell	NextEra Energy Inc.cs	$296,000	-20.9%	3,150	-13.7%	0.26%	-23.0%
LECO	Sell	Lincoln Electric Holdingscs	$294,000	-55.5%	4,250	-55.0%	0.26%	-56.5%
EQT	New	EQT Corpcs	$293,000	–	3,203	–	0.26%	–
NBL	New	Noble Energycs	$284,000	–	4,150	–	0.25%	–
VZ	Sell	Verizon Comm.cs	$272,000	-43.3%	5,450	-44.4%	0.24%	-44.9%
EMC	Sell	EMCcs	$269,000	+7.6%	9,200	-3.2%	0.24%	+4.9%
INTC	Sell	Intelcs	$263,000	-69.3%	7,550	-72.8%	0.23%	-70.1%
BIP	New	Brookfield Infrastructure Partcs	$245,000	–	6,450	–	0.21%	–
KN	New	Knowles Corpcs	$243,000	–	9,156	–	0.21%	–
BHE	New	Benchmark Electronicscs	$240,000	–	10,825	–	0.21%	–
PXD	New	Pioneer Natural Resourcescs	$241,000	–	1,225	–	0.21%	–
UPLMQ	New	Ultra Petroleumcs	$237,000	–	10,200	–	0.21%	–
ADBE	New	Adobe Systemscs	$237,000	–	3,425	–	0.21%	–
AKAM	Buy	Akamai Technologiescs	$233,000	+3.1%	3,900	+5.4%	0.20%	+0.5%
RYL	Buy	Ryland Groupcs	$232,000	+5.0%	6,975	+24.6%	0.20%	+2.5%
HOSSQ	Sell	Hornbeck Offshore Servicescs	$223,000	-62.3%	6,800	-46.1%	0.20%	-63.2%
ZTS	Sell	Zoetis Inccs	$201,000	-68.1%	5,450	-72.1%	0.18%	-69.0%
WMT	New	Wal-Mart Storescs	$185,000	–	2,419	–	0.16%	–
RF	New	Regions Financialcs	$183,000	–	18,200	–	0.16%	–
PFSI	Sell	PennyMac Financial Servicescs	$164,000	-8.4%	11,200	-5.1%	0.14%	-10.6%
RTN	New	Raytheoncs	$163,000	–	1,600	–	0.14%	–
APC	New	Anadarko Petroleumcs	$137,000	–	1,350	–	0.12%	–
APA	New	Apachecs	$77,000	–	825	–	0.07%	–
UNP	New	Union Pacificcs	$23,000	–	210	–	0.02%	–
	Buy	Fract Kinder Morgan Mgtcs	$0	–	55,333	+1.7%	0.00%	–
VRX	Exit	Valeant Pharma Int'lcs	$0	–	-1,600	–	-0.18%	–
COST	Exit	Costco Wholesalecs	$0	–	-1,865	–	-0.19%	–
RDSA	Exit	Royal Dutchcs	$0	–	-3,000	–	-0.22%	–
GTLS	Exit	Chart Industries Inc.cs	$0	–	-3,100	–	-0.23%	–
BAGL	Exit	Einstein Noah Restaurant Groupcs	$0	–	-16,700	–	-0.24%	–
TRP	Exit	TransCanada Corpcs	$0	–	-5,750	–	-0.24%	–
STLD	Exit	Steel Dynamicscs	$0	–	-15,275	–	-0.24%	–
SPXC	Exit	SPX Corpcs	$0	–	-2,600	–	-0.25%	–
GPS	Exit	The Gap Inc.cs	$0	–	-7,825	–	-0.29%	–
WYND	Exit	Wyndham Worldwidecs	$0	–	-4,436	–	-0.30%	–
PSMT	Exit	PriceSmart, Inc.cs	$0	–	-4,075	–	-0.32%	–
EL	Exit	Estee Laudercs	$0	–	-5,090	–	-0.34%	–
HD	Exit	Home Depotcs	$0	–	-5,275	–	-0.38%	–
VRSK	Exit	Verisk Analyticscs	$0	–	-8,025	–	-0.43%	–
NTRS	Exit	Northern Trustcs	$0	–	-7,500	–	-0.43%	–
HSP	Exit	Hospiracs	$0	–	-9,600	–	-0.44%	–
CLX	Exit	Clorox Companycs	$0	–	-5,550	–	-0.45%	–
COF	Exit	Capital One Finl.cs	$0	–	-6,800	–	-0.50%	–
SRCL	Exit	Stericycle, Inccs	$0	–	-4,900	–	-0.52%	–
DRI	Exit	Darden Restaurantscs	$0	–	-12,875	–	-0.53%	–
STX	Exit	Seagate Technology PCcs	$0	–	-16,850	–	-0.86%	–
IHG	Exit	InterContinental Hotelscs	$0	–	-41,525	–	-1.54%	–

Q2 2014

			Value		Shares		↓ Weighting
JNJ	New	Johnson & Johnsoncs	$3,081,000	–	29,454	–	2.76%	–
CHD	New	Church and Dwightcs	$2,714,000	–	38,800	–	2.43%	–
XOM	New	Exxon Mobilcs	$2,672,000	–	26,541	–	2.39%	–
GE	New	General Electriccs	$2,133,000	–	81,169	–	1.91%	–
QCOM	New	Qualcommcs	$1,815,000	–	22,915	–	1.62%	–
AMGN	New	Amgencs	$1,743,000	–	14,725	–	1.56%	–
TKR	New	Timkencs	$1,739,000	–	25,630	–	1.56%	–
IHG	New	InterContinental Hotelscs	$1,724,000	–	41,525	–	1.54%	–
BAX	New	Baxter Internationalcs	$1,535,000	–	21,225	–	1.38%	–
CNI	New	Canadian Natl Railcs	$1,388,000	–	21,350	–	1.24%	–
ESV	New	Ensco Plccs	$1,373,000	–	24,700	–	1.23%	–
HFC	New	Holly Frontier Corpcs	$1,331,000	–	30,465	–	1.19%	–
IBM	New	Int'l Bus. Mach.cs	$1,318,000	–	7,270	–	1.18%	–
OXY	New	Occidental Petroleumcs	$1,309,000	–	12,750	–	1.17%	–
EMR	New	Emerson Electriccs	$1,290,000	–	19,446	–	1.16%	–
BNS	New	Bank of Nova Scotiacs	$1,272,000	–	19,100	–	1.14%	–
MRO	New	Marathon Oilcs	$1,267,000	–	31,750	–	1.14%	–
INDB	New	Independent Bankcs	$1,245,000	–	32,447	–	1.12%	–
UL	New	Unilevercs	$1,226,000	–	27,050	–	1.10%	–
HON	New	Honeywell Int'l.cs	$1,218,000	–	13,100	–	1.09%	–
COP	New	ConocoPhillipscs	$1,209,000	–	14,100	–	1.08%	–
PB	New	Prosperity Bancshares, Inc.cs	$1,177,000	–	18,800	–	1.05%	–
MRK	New	Merckcs	$1,171,000	–	20,236	–	1.05%	–
CELG	New	Celgenecs	$1,158,000	–	13,480	–	1.04%	–
MHK	New	Mohawk Industriescs	$1,152,000	–	8,325	–	1.03%	–
KMB	New	Kimberly-Clarkcs	$1,151,000	–	10,346	–	1.03%	–
JCI	New	Johnson Controlscs	$1,116,000	–	22,350	–	1.00%	–
AGCO	New	AGCO Corpcs	$1,088,000	–	19,350	–	0.97%	–
PFE	New	Pfizercs	$1,075,000	–	36,235	–	0.96%	–
PG	New	Procter & Gamblecs	$1,052,000	–	13,380	–	0.94%	–
BBT	New	BB&Tcs	$1,039,000	–	26,340	–	0.93%	–
FLR	New	Fluorcs	$1,015,000	–	13,200	–	0.91%	–
STT	New	State Streetcs	$1,011,000	–	15,028	–	0.90%	–
FBHS	New	Fortune Brands & Home Securitycs	$1,008,000	–	25,250	–	0.90%	–
4945SC	New	Kinder Morgan Energycs	$993,000	–	12,075	–	0.89%	–
SBUX	New	Starbuckscs	$967,000	–	12,500	–	0.87%	–
STX	New	Seagate Technology PCcs	$957,000	–	16,850	–	0.86%	–
MSFT	New	Microsoftcs	$956,000	–	22,925	–	0.86%	–
AB	New	AllianceBernstein Holdingscs	$954,000	–	36,880	–	0.85%	–
KO	New	Coca-Colacs	$954,000	–	22,525	–	0.85%	–
GSK	New	GlaxoSmithKlinecs	$948,000	–	17,720	–	0.85%	–
DCI	New	Donaldson Company Inc.cs	$945,000	–	22,325	–	0.85%	–
MDT	New	Medtroniccs	$924,000	–	14,485	–	0.83%	–
FUL	New	HB Fullercs	$914,000	–	19,005	–	0.82%	–
KSU	New	Kansas City So.cs	$911,000	–	8,475	–	0.82%	–
BMO	New	Bank of Montrealcs	$898,000	–	12,200	–	0.80%	–
STI	New	SunTrust Bankscs	$874,000	–	21,825	–	0.78%	–
INTC	New	Intelcs	$858,000	–	27,775	–	0.77%	–
SLB	New	Schlumbergercs	$854,000	–	7,240	–	0.76%	–
T	New	A T & Tcs	$843,000	–	23,835	–	0.76%	–
DORM	New	Dorman Products, Inc.cs	$836,000	–	16,950	–	0.75%	–
GILD	New	Gilead Sciencescs	$833,000	–	10,050	–	0.75%	–
ABB	New	ABB LTDcs	$825,000	–	35,846	–	0.74%	–
ARG	New	Airgas, Inc.cs	$817,000	–	7,500	–	0.73%	–
ETN	New	Eatoncs	$814,000	–	10,550	–	0.73%	–
CVX	New	Chevron Corporationcs	$809,000	–	6,200	–	0.72%	–
J	New	Jacobs Engineeringcs	$809,000	–	15,175	–	0.72%	–
TIBX	New	Tibco Softwarecs	$800,000	–	39,650	–	0.72%	–
WST	New	West Pharmaceutical Servicescs	$793,000	–	18,806	–	0.71%	–
K	New	Kelloggcs	$770,000	–	11,723	–	0.69%	–
ABT	New	Abbott Labscs	$769,000	–	18,808	–	0.69%	–
CSX	New	CSX Corpcs	$769,000	–	24,945	–	0.69%	–
URI	New	United Rentals, Inc.cs	$759,000	–	7,250	–	0.68%	–
AVT	New	Avnetcs	$747,000	–	16,850	–	0.67%	–
CAG	New	ConAgra Foodscs	$726,000	–	24,450	–	0.65%	–
FAST	New	Fastenalcs	$725,000	–	14,650	–	0.65%	–
NKE	New	Nike Inc Class Bcs	$721,000	–	9,300	–	0.65%	–
MCD	New	McDonald'scs	$694,000	–	6,885	–	0.62%	–
LULU	New	Lululemon Athleticacs	$691,000	–	17,075	–	0.62%	–
BRKB	New	Berkshire Hathaway Bcs	$674,000	–	5,323	–	0.60%	–
CSCO	New	Cisco Systemscs	$673,000	–	27,075	–	0.60%	–
SYY	New	Sysco Corpcs	$670,000	–	17,900	–	0.60%	–
LECO	New	Lincoln Electric Holdingscs	$660,000	–	9,450	–	0.59%	–
AGU	New	Agriumcs	$641,000	–	7,000	–	0.57%	–
MMM	New	3M Corp.cs	$631,000	–	4,408	–	0.56%	–
ZTS	New	Zoetis Inccs	$630,000	–	19,525	–	0.56%	–
DEO	New	Diageo PLC ADScs	$624,000	–	4,900	–	0.56%	–
NEBLQ	New	Noble Corp PLCcs	$618,000	–	18,400	–	0.55%	–
BA	New	Boeingcs	$604,000	–	4,750	–	0.54%	–
JWN	New	Nordstromcs	$601,000	–	8,854	–	0.54%	–
DRI	New	Darden Restaurantscs	$596,000	–	12,875	–	0.53%	–
HOSSQ	New	Hornbeck Offshore Servicescs	$592,000	–	12,625	–	0.53%	–
BMY	New	Bristol Myers Squibbcs	$592,000	–	12,200	–	0.53%	–
SU	New	Suncor Energycs	$584,000	–	13,700	–	0.52%	–
SRCL	New	Stericycle, Inccs	$580,000	–	4,900	–	0.52%	–
SWN	New	Southwestern Energycs	$567,000	–	12,475	–	0.51%	–
COF	New	Capital One Finl.cs	$562,000	–	6,800	–	0.50%	–
9207PS	New	Rock-Tenn Companycs	$549,000	–	5,200	–	0.49%	–
TROW	New	T. R. Pricecs	$519,000	–	6,150	–	0.46%	–
ABBV	New	AbbVie Inc.cs	$517,000	–	9,158	–	0.46%	–
CBI	New	Chicago Bridge & Ironcs	$515,000	–	7,550	–	0.46%	–
CLX	New	Clorox Companycs	$507,000	–	5,550	–	0.45%	–
ANSS	New	Ansys, Inc.cs	$497,000	–	6,550	–	0.44%	–
HSP	New	Hospiracs	$493,000	–	9,600	–	0.44%	–
CMI	New	Cumminscs	$490,000	–	3,175	–	0.44%	–
NSC	New	Norfolk Southerncs	$489,000	–	4,750	–	0.44%	–
VRSK	New	Verisk Analyticscs	$482,000	–	8,025	–	0.43%	–
NTRS	New	Northern Trustcs	$482,000	–	7,500	–	0.43%	–
VZ	New	Verizon Comm.cs	$480,000	–	9,809	–	0.43%	–
ROC	New	Rockwood Holdings, Inc.cs	$464,000	–	6,100	–	0.42%	–
MA	New	Mastercard Inccs	$463,000	–	6,300	–	0.42%	–
MYL	New	Mylan Labscs	$458,000	–	8,890	–	0.41%	–
ALK	New	Alaska Aircs	$456,000	–	4,800	–	0.41%	–
DRQ	New	Dril-Quipcs	$453,000	–	4,150	–	0.41%	–
NTAP	New	NetApp Inc.cs	$448,000	–	12,275	–	0.40%	–
PLL	New	Pallcs	$435,000	–	5,100	–	0.39%	–
WPC	New	W.P. Carey & Co.cs	$430,000	–	6,684	–	0.38%	–
HD	New	Home Depotcs	$427,000	–	5,275	–	0.38%	–
WAT	New	Waterscs	$423,000	–	4,050	–	0.38%	–
PEP	New	Pepsicocs	$393,000	–	4,400	–	0.35%	–
EL	New	Estee Laudercs	$378,000	–	5,090	–	0.34%	–
AAPL	New	Apple Computercs	$378,000	–	4,067	–	0.34%	–
CNBKA	New	Century Bancorpcs	$376,000	–	10,644	–	0.34%	–
NEE	New	NextEra Energy Inc.cs	$374,000	–	3,650	–	0.34%	–
TOL	New	Toll Brotherscs	$358,000	–	9,700	–	0.32%	–
PSMT	New	PriceSmart, Inc.cs	$355,000	–	4,075	–	0.32%	–
CP	New	Canadian Pacificcs	$349,000	–	1,925	–	0.31%	–
GWW	New	W.W. Grainger, Inccs	$350,000	–	1,378	–	0.31%	–
COH	New	Coach, Inc.cs	$343,000	–	10,040	–	0.31%	–
WYND	New	Wyndham Worldwidecs	$336,000	–	4,436	–	0.30%	–
GPS	New	The Gap Inc.cs	$325,000	–	7,825	–	0.29%	–
DVA	New	DaVita Inc.cs	$325,000	–	4,500	–	0.29%	–
UTX	New	United Technologiescs	$316,000	–	2,738	–	0.28%	–
FULT	New	Fulton Financialcs	$307,000	–	24,750	–	0.28%	–
BP	New	BP P.L.C.cs	$306,000	–	5,800	–	0.27%	–
PCYC	New	Pharmacyclics, Inc.cs	$305,000	–	3,400	–	0.27%	–
BMR	New	Biomed Realty Trustcs	$287,000	–	13,150	–	0.26%	–
SPXC	New	SPX Corpcs	$281,000	–	2,600	–	0.25%	–
KMR	New	Kinder Morgan Managementcs	$279,000	–	3,538	–	0.25%	–
GWR	New	Genesee and Wyomingcs	$276,000	–	2,625	–	0.25%	–
STTPRCCL	New	State Street Preferred Ccs	$275,000	–	11,900	–	0.25%	–
TRP	New	TransCanada Corpcs	$274,000	–	5,750	–	0.24%	–
STLD	New	Steel Dynamicscs	$274,000	–	15,275	–	0.24%	–
HSBCPRA	New	HSBC Holdings Pfd Acs	$272,000	–	10,750	–	0.24%	–
BAGL	New	Einstein Noah Restaurant Groupcs	$268,000	–	16,700	–	0.24%	–
PNR	New	Pentaircs	$267,000	–	3,700	–	0.24%	–
PRXL	New	Parexel International Corpcs	$263,000	–	4,975	–	0.24%	–
GTLS	New	Chart Industries Inc.cs	$256,000	–	3,100	–	0.23%	–
EMC	New	EMCcs	$250,000	–	9,500	–	0.22%	–
RDSA	New	Royal Dutchcs	$247,000	–	3,000	–	0.22%	–
KWR	New	Quaker Chemicalcs	$238,000	–	3,100	–	0.21%	–
PVTB	New	Private Bancorpcs	$231,000	–	7,950	–	0.21%	–
AZN	New	Astrazenecacs	$227,000	–	3,050	–	0.20%	–
AKAM	New	Akamai Technologiescs	$226,000	–	3,700	–	0.20%	–
RYL	New	Ryland Groupcs	$221,000	–	5,600	–	0.20%	–
SIAL	New	Sigma-Aldrichcs	$220,000	–	2,168	–	0.20%	–
COST	New	Costco Wholesalecs	$215,000	–	1,865	–	0.19%	–
TGT	New	Targetcs	$212,000	–	3,650	–	0.19%	–
VRX	New	Valeant Pharma Int'lcs	$202,000	–	1,600	–	0.18%	–
PFSI	New	PennyMac Financial Servicescs	$179,000	–	11,800	–	0.16%	–
	New	Fract Kinder Morgan Mgtcs	$0	–	54,387	–	0.00%	–
	New	The FRS Companycs	$0	–	114,324	–	0.00%	–

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