Grassi Investment Management Activity Q2 2014-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
NVDA	Sell	NVIDIA CORP	$119,109	+2.8%	273,820	-0.0%	13.70%	+7.5%
AAPL	Sell	APPLE COMPUTER	$59,121	-12.0%	345,315	-0.4%	6.80%	-8.0%
MSFT	Buy	MICROSOFT CORP	$50,920	-6.8%	161,268	+0.5%	5.86%	-2.6%
AMAT	Sell	APPLIED MATERIALS	$38,505	-4.3%	278,116	-0.1%	4.43%	+0.1%
V	Sell	VISA INC CL A	$23,238	-3.5%	101,029	-0.3%	2.67%	+0.9%
JPM	Sell	JP MORGAN CHASE	$15,741	-0.5%	108,544	-0.2%	1.81%	+4.0%
ABBV	Sell	ABBVIE INC.	$15,301	+10.6%	102,650	-0.0%	1.76%	+15.6%
NOW	Buy	SERVICENOW, INC	$14,200	+0.7%	25,405	+1.2%	1.63%	+5.2%
AMD	Buy	ADVANCED MICRO DEV	$13,550	-6.6%	131,785	+3.5%	1.56%	-2.4%
RIO	Buy	RIO TINTO	$13,018	+0.9%	204,554	+1.2%	1.50%	+5.4%
BX	Sell	BLACKSTONE	$12,922	+4.8%	120,612	-9.1%	1.49%	+9.5%
BAC	Buy	BANK OF AMERICA	$12,171	-4.2%	444,520	+0.4%	1.40%	+0.1%
ATVI	Sell	ACTIVISION	$12,064	+8.3%	128,845	-2.5%	1.39%	+13.2%
HON	Sell	HONEYWELL INTL	$11,963	-11.4%	64,755	-0.5%	1.38%	-7.3%
JNJ	Sell	JOHN. & JOHN.	$10,822	-7.3%	69,484	-1.5%	1.24%	-3.1%
ABT	Sell	ABBOTT LABS COM	$10,828	-11.2%	111,806	-0.0%	1.24%	-7.2%
MRK	Sell	MERCK & CO INC	$10,800	-12.0%	104,910	-1.4%	1.24%	-8.0%
LMT	Sell	LOCKHEED MARTIN	$10,578	-11.6%	25,867	-0.5%	1.22%	-7.5%
BA	Sell	BOEING	$9,871	-9.5%	51,495	-0.3%	1.14%	-5.4%
AMT	Buy	AMERICAN TOWER	$8,937	-13.1%	54,347	+2.5%	1.03%	-9.2%
UBER	Buy	UBER TECHNOLOGIES	$8,928	+11.0%	194,125	+4.2%	1.03%	+16.0%
WFC	Sell	WELLS FARGO & CO	$8,009	-4.8%	196,019	-0.5%	0.92%	-0.4%
DIS	Buy	DISNEY, WALT CO	$6,828	-7.1%	84,240	+2.4%	0.78%	-2.8%
RCL	Sell	ROYAL CARIBBEAN	$6,307	-24.0%	68,450	-14.5%	0.72%	-20.6%
CCI	Buy	CROWN CASTLE INT'L	$6,169	-17.5%	67,028	+2.1%	0.71%	-13.7%
AMZN	Buy	AMAZON.COM	$5,721	+7.5%	45,005	+10.2%	0.66%	+12.3%
SNOW	New	SNOWFLAKE CLASS A	$5,305	–	34,725	–	0.61%	–
SCHW	Buy	CHARLES SCHWAB	$5,229	+102.4%	95,243	+108.9%	0.60%	+111.6%
XLK	Sell	TECHNOLOGY	$4,981	-6.3%	30,385	-0.6%	0.57%	-2.1%
PFE	Sell	PFIZER INC	$4,675	-12.2%	140,952	-2.9%	0.54%	-8.0%
GOOGL	Buy	ALPHABET CLASS A	$4,358	+13.3%	33,300	+3.7%	0.50%	+18.4%
KRE	Buy	SPDR S&P REGIONAL BANKING	$4,288	+5.1%	102,665	+2.8%	0.49%	+9.8%
QQQ	Buy	INVESCO QQQ	$3,989	-0.4%	11,134	+2.7%	0.46%	+4.1%
WDAY	Sell	WORKDAY INC	$2,965	-20.3%	13,800	-16.2%	0.34%	-16.6%
COST	Buy	COSTCO WHOLESALE	$2,706	+8.3%	4,790	+3.2%	0.31%	+13.1%
SPG	Sell	SIMON PPTY GRP INC	$2,607	-7.5%	24,135	-1.1%	0.30%	-3.2%
XLV	Buy	HEALTH CARE	$2,502	-2.8%	19,438	+0.3%	0.29%	+1.8%
XLI	Sell	INDUSTRIALS	$2,419	-7.2%	23,860	-1.8%	0.28%	-3.1%
SLB	Sell	SCHLUMBERGER	$2,274	+2.9%	39,000	-13.3%	0.26%	+7.8%
CRWD	New	CROWDSTRIKE HOLDINGS	$2,130	–	12,725	–	0.24%	–
RTX	Sell	RAYTHEON	$1,435	-43.4%	19,939	-23.0%	0.16%	-40.9%
IBB	Sell	BIOTECHNOLOGY	$1,336	-11.4%	10,925	-8.0%	0.15%	-7.2%
ARLP	New	ALLIANCE RES PTNRS	$1,284	–	57,000	–	0.15%	–
TSLA	Buy	TESLA MOTORS	$1,092	+1.6%	4,365	+6.3%	0.13%	+6.8%
GOOG	Buy	ALPHABET CLASS C	$989	+12.0%	7,500	+2.7%	0.11%	+17.5%
XLY	Sell	CONSUMER DISCR	$985	-13.2%	6,121	-8.5%	0.11%	-9.6%
AON	Sell	AON PLC	$973	-9.1%	3,000	-3.2%	0.11%	-5.1%
SONY	Sell	SONY CORP	$915	-12.4%	11,100	-4.3%	0.10%	-8.7%
XLB	Sell	MATERIALS	$886	-5.3%	11,276	-0.2%	0.10%	-1.0%
TU	Sell	TELUS CORP	$781	-22.1%	47,800	-7.2%	0.09%	-18.2%
LC	Buy	LENDINGCLUB CORP	$774	-34.9%	126,950	+4.1%	0.09%	-32.1%
	Sell	VANGUARD 500 INDEX	$567	-13.6%	1,433	-10.3%	0.06%	-9.7%
FB	Buy	META PLATFORMS	$540	+23.0%	1,800	+17.6%	0.06%	+29.2%
DVY	Sell	SELECT DIVIDEND	$529	-5.5%	4,914	-0.6%	0.06%	-1.6%
VZ	Sell	VERIZON COMM	$524	-88.4%	16,160	-86.7%	0.06%	-87.9%
DRIV	Sell	GLOBAL X ELECTRIC VEHICLES	$436	-11.6%	18,557	-2.0%	0.05%	-7.4%
DIA	Buy	SPDR DOW JONES IND	$428	-2.3%	1,276	+0.1%	0.05%	+2.1%
XLF	Sell	FINANCIAL	$408	-11.7%	12,314	-10.1%	0.05%	-7.8%
IGM	Sell	EXPANDED TECH	$354	-16.3%	926	-13.9%	0.04%	-12.8%
OKE	New	ONEOK INC	$309	–	4,867	–	0.04%	–
XLC	Buy	COMM SERVICES	$317	+25.3%	4,841	+24.4%	0.04%	+28.6%
LRCX	Sell	LAM RESEARCH CORP	$257	-13.2%	410	-10.9%	0.03%	-9.1%
SHOP	Buy	SHOPIFY INC	$250	+5.0%	4,580	+24.5%	0.03%	+11.5%
GDX	Buy	MKT VECT GOLD MNRS	$236	+1.7%	8,775	+14.0%	0.03%	+3.8%
COIN	Sell	COINBASE GLB	$238	-16.2%	3,175	-20.1%	0.03%	-12.9%
ASML	New	ASML HOLDINGS NV	$221	–	375	–	0.02%	–
HACK	New	ETFMG PRM CYBER SECURITY	$209	–	4,050	–	0.02%	–
VTNR	Buy	VERTEX ENERGY	$169	-15.5%	38,000	+18.8%	0.02%	-13.6%
TRP	Exit	TC ENERGY CORP	$0	–	-5,000	–	-0.02%	–
HAL	Exit	HALLIBURTON CO	$0	–	-6,400	–	-0.02%	–
FFTY	Exit	INNOVATOR IBD 50	$0	–	-8,000	–	-0.02%	–
DE	Exit	DEERE & CO	$0	–	-525	–	-0.02%	–
SEDG	Exit	SOLAREDGE TECH	$0	–	-1,000	–	-0.03%	–
CRUZ	Exit	DEFIANCE HOTEL,CRUISE	$0	–	-13,750	–	-0.03%	–
MMP	Exit	MAGELLAN	$0	–	-7,300	–	-0.05%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,306,350	–	-2.24%	–

Q2 2023

			Value		Shares		↓ Weighting
NVDA	New	NVIDIA CORP	$115,886	–	273,950	–	12.75%	–
AAPL	New	APPLE COMPUTER	$67,221	–	346,553	–	7.40%	–
MSFT	New	MICROSOFT CORP	$54,649	–	160,477	–	6.01%	–
AMAT	New	APPLIED MATERIALS	$40,228	–	278,316	–	4.42%	–
LLY	New	LILLY, ELI & CO	$37,242	–	79,412	–	4.10%	–
V	New	VISA INC CL A	$24,075	–	101,378	–	2.65%	–
PLD	New	PROLOGIS	$23,452	–	191,246	–	2.58%	–
AVGO	New	BROADCOM LTD	$22,731	–	26,205	–	2.50%	–
QUOT	New	QUOTIENT TECH.	$20,376	–	5,306,350	–	2.24%	–
CAT	New	CATERPILLAR	$16,978	–	69,004	–	1.87%	–
PG	New	PROCTER & GAMBLE	$15,842	–	104,400	–	1.74%	–
JPM	New	JP MORGAN CHASE	$15,823	–	108,792	–	1.74%	–
AMD	New	ADVANCED MICRO DEV	$14,508	–	127,360	–	1.60%	–
NOW	New	SERVICENOW, INC	$14,108	–	25,105	–	1.55%	–
ABBV	New	ABBVIE INC.	$13,837	–	102,700	–	1.52%	–
HON	New	HONEYWELL INTL	$13,499	–	65,054	–	1.48%	–
RIO	New	RIO TINTO	$12,905	–	202,144	–	1.42%	–
BAC	New	BANK OF AMERICA	$12,705	–	442,820	–	1.40%	–
BX	New	BLACKSTONE	$12,333	–	132,660	–	1.36%	–
MRK	New	MERCK & CO INC	$12,273	–	106,358	–	1.35%	–
ABT	New	ABBOTT LABS COM	$12,195	–	111,856	–	1.34%	–
LMT	New	LOCKHEED MARTIN	$11,966	–	25,992	–	1.32%	–
ORCL	New	ORACLE CORP	$11,861	–	99,595	–	1.30%	–
JNJ	New	JOHN. & JOHN.	$11,680	–	70,564	–	1.28%	–
STZ	New	CONSTELLATION	$11,606	–	47,154	–	1.28%	–
HD	New	HOME DEPOT INC	$11,596	–	37,330	–	1.28%	–
ATVI	New	ACTIVISION	$11,144	–	132,195	–	1.23%	–
BA	New	BOEING	$10,905	–	51,645	–	1.20%	–
UNP	New	UNION PACIFIC	$10,678	–	52,183	–	1.18%	–
MS	New	MORGAN STANLEY	$10,336	–	121,025	–	1.14%	–
AMT	New	AMERICAN TOWER	$10,288	–	53,047	–	1.13%	–
VMC	New	VULCAN MATERIALS	$10,134	–	44,952	–	1.12%	–
MAR	New	MARRIOTT INTL	$9,184	–	50,000	–	1.01%	–
CVX	New	CHEVRON CORP	$8,874	–	56,396	–	0.98%	–
WFC	New	WELLS FARGO & CO	$8,409	–	197,014	–	0.92%	–
RCL	New	ROYAL CARIBBEAN	$8,302	–	80,025	–	0.91%	–
IBM	New	IBM CORPORATION	$8,046	–	60,130	–	0.88%	–
UBER	New	UBER TECHNOLOGIES	$8,046	–	186,375	–	0.88%	–
CCI	New	CROWN CASTLE INT'L	$7,477	–	65,625	–	0.82%	–
DIS	New	DISNEY, WALT CO	$7,347	–	82,294	–	0.81%	–
CRM	New	SALESFORCE.COM	$7,164	–	33,913	–	0.79%	–
PEP	New	PEPSICO INC	$7,038	–	38,000	–	0.77%	–
BMY	New	BRISTOL-MYERS	$6,942	–	108,560	–	0.76%	–
DLR	New	DIGITAL REALTY TR	$6,486	–	56,960	–	0.71%	–
WYNN	New	WYNN RESORTS LTD	$5,781	–	54,740	–	0.64%	–
CMCSA	New	COMCAST CL A	$5,552	–	133,613	–	0.61%	–
WMT	New	WAL-MART STORES	$5,455	–	34,707	–	0.60%	–
AMZN	New	AMAZON.COM	$5,323	–	40,835	–	0.59%	–
PFE	New	PFIZER INC	$5,322	–	145,102	–	0.58%	–
XLK	New	TECHNOLOGY	$5,315	–	30,573	–	0.58%	–
ABNB	New	AIRBNB	$5,052	–	39,420	–	0.56%	–
VZ	New	VERIZON COMM	$4,519	–	121,517	–	0.50%	–
MO	New	ALTRIA GROUP INC	$4,321	–	95,386	–	0.48%	–
KRE	New	SPDR S&P REGIONAL BANKING	$4,078	–	99,885	–	0.45%	–
QQQ	New	INVESCO QQQ	$4,005	–	10,843	–	0.44%	–
AXP	New	AMERICAN EXPRESS	$4,000	–	22,960	–	0.44%	–
GOOGL	New	ALPHABET CLASS A	$3,845	–	32,125	–	0.42%	–
WDAY	New	WORKDAY INC	$3,722	–	16,475	–	0.41%	–
FCX	New	FREEPORT MCMORAN	$3,402	–	85,050	–	0.37%	–
SPG	New	SIMON PPTY GRP INC	$2,818	–	24,405	–	0.31%	–
XLI	New	INDUSTRIALS	$2,608	–	24,298	–	0.29%	–
SCHW	New	CHARLES SCHWAB	$2,584	–	45,593	–	0.28%	–
XLV	New	HEALTH CARE	$2,573	–	19,383	–	0.28%	–
RTX	New	RAYTHEON	$2,536	–	25,889	–	0.28%	–
COST	New	COSTCO WHOLESALE	$2,498	–	4,640	–	0.28%	–
XOM	New	EXXON MOBIL CORP	$2,231	–	20,800	–	0.24%	–
SLB	New	SCHLUMBERGER	$2,210	–	45,000	–	0.24%	–
IBB	New	BIOTECHNOLOGY	$1,508	–	11,875	–	0.17%	–
MMM	New	3M COMPANY	$1,311	–	13,100	–	0.14%	–
LC	New	LENDINGCLUB CORP	$1,189	–	121,950	–	0.13%	–
XLY	New	CONSUMER DISCR	$1,135	–	6,686	–	0.12%	–
EPD	New	ENTERPRISE PRODS	$1,086	–	41,200	–	0.12%	–
TSLA	New	TESLA MOTORS	$1,075	–	4,105	–	0.12%	–
AON	New	AON PLC	$1,070	–	3,100	–	0.12%	–
SONY	New	SONY CORP	$1,044	–	11,600	–	0.12%	–
TU	New	TELUS CORP	$1,002	–	51,500	–	0.11%	–
GD	New	GENERAL DYNAMICS	$995	–	4,625	–	0.11%	–
STWD	New	STARWOOD PROP	$976	–	50,300	–	0.11%	–
CLX	New	CLOROX COMPANY	$954	–	6,000	–	0.10%	–
XLB	New	MATERIALS	$936	–	11,293	–	0.10%	–
SBUX	New	STARBUCKS CORP	$924	–	9,332	–	0.10%	–
GOOG	New	ALPHABET CLASS C	$883	–	7,300	–	0.10%	–
CPT	New	CAMDEN PROPERTY	$861	–	7,909	–	0.10%	–
AVB	New	AVALONBAY	$792	–	4,185	–	0.09%	–
HPQ	New	HP INC.	$786	–	25,600	–	0.09%	–
	New	VANGUARD 500 INDEX	$656	–	1,598	–	0.07%	–
CI	New	CIGNA CORP	$561	–	2,000	–	0.06%	–
DVY	New	SELECT DIVIDEND	$560	–	4,944	–	0.06%	–
DRIV	New	GLOBAL X ELECTRIC VEHICLES	$493	–	18,938	–	0.05%	–
XLF	New	FINANCIAL	$462	–	13,702	–	0.05%	–
MMP	New	MAGELLAN	$455	–	7,300	–	0.05%	–
BEN	New	FRANKLIN RES	$449	–	16,800	–	0.05%	–
JOET	New	VIRTUS TERRANOVA	$437	–	15,187	–	0.05%	–
DIA	New	SPDR DOW JONES IND	$438	–	1,275	–	0.05%	–
FB	New	META PLATFORMS	$439	–	1,530	–	0.05%	–
HPE	New	HEWLETT-PACKARD	$430	–	25,600	–	0.05%	–
UNH	New	UNITEDHEALTH GROUP	$425	–	885	–	0.05%	–
IGM	New	EXPANDED TECH	$423	–	1,076	–	0.05%	–
CRUZ	New	DEFIANCE HOTEL,CRUISE	$296	–	13,750	–	0.03%	–
LRCX	New	LAM RESEARCH CORP	$296	–	460	–	0.03%	–
ADBE	New	ADOBE SYSTEMS	$294	–	600	–	0.03%	–
VTR	New	VENTAS INC.	$284	–	6,000	–	0.03%	–
COIN	New	COINBASE GLB	$284	–	3,975	–	0.03%	–
SEDG	New	SOLAREDGE TECH	$269	–	1,000	–	0.03%	–
MCD	New	MCDONALDS	$267	–	894	–	0.03%	–
MDLZ	New	MONDELEZ INTL	$255	–	3,500	–	0.03%	–
XLC	New	COMM SERVICES	$253	–	3,891	–	0.03%	–
CBOBA	New	COMMUNITY BANK OF THE BAY	$243	–	30,000	–	0.03%	–
BRKB	New	BERKSHIRE HATH.	$248	–	726	–	0.03%	–
C	New	CITIGROUP INC	$242	–	5,250	–	0.03%	–
	New	FIDELITY INTL INDX-INST PRM	$234	–	5,074	–	0.03%	–
FORD	New	FORD MOTOR CO	$235	–	15,500	–	0.03%	–
GPS	New	GAP INC	$238	–	26,600	–	0.03%	–
SHOP	New	SHOPIFY INC	$238	–	3,680	–	0.03%	–
GDX	New	MKT VECT GOLD MNRS	$232	–	7,700	–	0.03%	–
	New	SCHWAB TTL STCK	$223	–	2,939	–	0.02%	–
NSRGY	New	NESTLE SA	$223	–	1,850	–	0.02%	–
FFTY	New	INNOVATOR IBD 50	$205	–	8,000	–	0.02%	–
DE	New	DEERE & CO	$213	–	525	–	0.02%	–
HAL	New	HALLIBURTON CO	$211	–	6,400	–	0.02%	–
VTNR	New	VERTEX ENERGY	$200	–	32,000	–	0.02%	–
TRP	New	TC ENERGY CORP	$202	–	5,000	–	0.02%	–
NAC	New	NVN CA DIV ADV MUNI	$164	–	15,000	–	0.02%	–
FATE	New	FATE THERAPEUTICS	$86	–	18,000	–	0.01%	–
TLRY	New	TILRAY INC	$18	–	11,733	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
TLRY	Exit	TILRAY INC	$0	–	-11,633	–	-0.01%	–
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-10,500	–	-0.01%	–
	Exit	AMPLITUDE INC	$0	–	-10,000	–	-0.02%	–
NAC	Exit	NVN CA DIV ADV MUNI	$0	–	-15,000	–	-0.02%	–
T	Exit	AT&T	$0	–	-12,000	–	-0.03%	–
TRP	Exit	TC ENERGY CORP	$0	–	-5,000	–	-0.03%	–
MCD	Exit	MCDONALDS	$0	–	-894	–	-0.03%	–
FFTY	Exit	INNOVATOR IBD 50	$0	–	-9,100	–	-0.03%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.03%	–
SEDG	Exit	SOLAREDGE TECH	$0	–	-1,000	–	-0.03%	–
FISV	Exit	FISERV INC	$0	–	-2,475	–	-0.03%	–
KTOS	Exit	KRATOS DEFENSE	$0	–	-23,100	–	-0.03%	–
VTR	Exit	VENTAS INC.	$0	–	-6,000	–	-0.04%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-890	–	-0.04%	–
FLO	Exit	FLOWERS FOODS	$0	–	-10,000	–	-0.04%	–
LYV	Exit	LIVE NATION	$0	–	-3,325	–	-0.04%	–
CBOBA	Exit	COMMUNITY BANK OF THE BAY	$0	–	-30,000	–	-0.04%	–
CRUZ	Exit	DEFIANCE HOTEL,CRUISE	$0	–	-20,450	–	-0.04%	–
UNH	Exit	UNITEDHEALTH GROUP	$0	–	-585	–	-0.04%	–
VTNR	Exit	VERTEX ENERGY	$0	–	-49,000	–	-0.04%	–
HPE	Exit	HEWLETT-PACKARD	$0	–	-25,600	–	-0.04%	–
COIN	Exit	COINBASE GLB	$0	–	-5,000	–	-0.05%	–
IGM	Exit	EXPANDED TECH	$0	–	-1,166	–	-0.05%	–
MMP	Exit	MAGELLAN	$0	–	-7,300	–	-0.05%	–
BEN	Exit	FRANKLIN RES	$0	–	-16,800	–	-0.05%	–
DIA	Exit	SPDR DOW JONES IND	$0	–	-1,281	–	-0.05%	–
DRIV	Exit	GLOBAL X ELECTRIC VEHICLES	$0	–	-20,569	–	-0.06%	–
JOET	Exit	VIRTUS TERRANOVA	$0	–	-17,387	–	-0.06%	–
XLF	Exit	FINANCIAL	$0	–	-15,760	–	-0.07%	–
C	Exit	CITIGROUP INC	$0	–	-12,718	–	-0.08%	–
CI	Exit	CIGNA CORP	$0	–	-2,000	–	-0.08%	–
	Exit	VANGUARD 500 INDEX	$0	–	-1,678	–	-0.08%	–
DVY	Exit	SELECT DIVIDEND	$0	–	-5,565	–	-0.09%	–
HPQ	Exit	HP INC.	$0	–	-25,600	–	-0.09%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-7,300	–	-0.10%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.11%	–
AVB	Exit	AVALONBAY	$0	–	-4,185	–	-0.11%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-9,432	–	-0.12%	–
XLB	Exit	MATERIALS	$0	–	-12,467	–	-0.12%	–
SONY	Exit	SONY CORP	$0	–	-13,400	–	-0.12%	–
TSLA	Exit	TESLA MOTORS	$0	–	-3,249	–	-0.13%	–
STWD	Exit	STARWOOD PROP	$0	–	-50,300	–	-0.13%	–
FB	Exit	META PLATFORMS	$0	–	-6,725	–	-0.13%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-7,909	–	-0.14%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-40,100	–	-0.14%	–
GD	Exit	GENERAL DYNAMICS	$0	–	-4,645	–	-0.14%	–
XLY	Exit	CONSUMER DISCR	$0	–	-7,113	–	-0.15%	–
TU	Exit	TELUS CORP	$0	–	-56,600	–	-0.16%	–
UBER	Exit	UBER TECHNOLOGIES	$0	–	-50,550	–	-0.20%	–
TSM	Exit	TAIWAN SEMI ADR	$0	–	-22,775	–	-0.23%	–
IBB	Exit	BIOTECHNOLOGY	$0	–	-14,310	–	-0.24%	–
LC	Exit	LENDINGCLUB CORP	$0	–	-160,950	–	-0.26%	–
WDAY	Exit	WORKDAY INC	$0	–	-13,435	–	-0.30%	–
XLI	Exit	INDUSTRIALS	$0	–	-25,717	–	-0.31%	–
RTX	Exit	RAYTHEON	$0	–	-26,114	–	-0.31%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-25,840	–	-0.33%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-4,774	–	-0.33%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-25,189	–	-0.33%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-85,500	–	-0.34%	–
XLV	Exit	HEALTH CARE	$0	–	-20,192	–	-0.36%	–
QQQ	Exit	INVESCO QQQ	$0	–	-10,897	–	-0.42%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-22,960	–	-0.45%	–
RCL	Exit	ROYAL CARIBBEAN	$0	–	-88,465	–	-0.49%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-37,375	–	-0.52%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-58,390	–	-0.54%	–
MMM	Exit	3M COMPANY	$0	–	-34,100	–	-0.55%	–
XLK	Exit	TECHNOLOGY	$0	–	-31,847	–	-0.55%	–
CMCSA	Exit	COMCAST CL A	$0	–	-133,613	–	-0.57%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-108,386	–	-0.64%	–
WMT	Exit	WAL-MART STORES	$0	–	-34,707	–	-0.66%	–
ABNB	Exit	AIRBNB	$0	–	-43,455	–	-0.66%	–
VZ	Exit	VERIZON COMM	$0	–	-124,076	–	-0.69%	–
CRM	Exit	SALESFORCE.COM	$0	–	-34,408	–	-0.72%	–
FORD	Exit	FORD MOTOR CO	$0	–	-473,300	–	-0.77%	–
AMZN	Exit	AMAZON.COM	$0	–	-47,285	–	-0.78%	–
ORCL	Exit	ORACLE CORP	$0	–	-99,595	–	-0.89%	–
DLR	Exit	DIGITAL REALTY TR	$0	–	-63,547	–	-0.92%	–
BA	Exit	BOEING	$0	–	-53,170	–	-0.94%	–
PFE	Exit	PFIZER INC	$0	–	-149,227	–	-0.95%	–
KRE	Exit	SPDR S&P REGIONAL BANKING	$0	–	-111,470	–	-0.96%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-169,088	–	-0.99%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-86,325	–	-1.02%	–
MAR	Exit	MARRIOTT INTL	$0	–	-50,000	–	-1.02%	–
IBM	Exit	IBM CORPORATION	$0	–	-60,130	–	-1.04%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-45,802	–	-1.05%	–
AMD	Exit	ADVANCED MICRO DEV	$0	–	-115,410	–	-1.07%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-108,560	–	-1.12%	–
ADM	Exit	ARCHR DAN MIDLND	$0	–	-96,632	–	-1.13%	–
PEP	Exit	PEPSICO INC	$0	–	-48,000	–	-1.14%	–
CVX	Exit	CHEVRON CORP	$0	–	-56,396	–	-1.18%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-91,529	–	-1.26%	–
MRK	Exit	MERCK & CO INC	$0	–	-106,654	–	-1.34%	–
NOW	Exit	SERVICENOW, INC	$0	–	-25,170	–	-1.38%	–
MS	Exit	MORGAN STANLEY	$0	–	-121,275	–	-1.40%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-66,779	–	-1.41%	–
ATVI	Exit	ACTIVISION	$0	–	-132,265	–	-1.43%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-25,967	–	-1.46%	–
UNP	Exit	UNION PACIFIC	$0	–	-52,183	–	-1.48%	–
HD	Exit	HOME DEPOT INC	$0	–	-37,545	–	-1.51%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-112,240	–	-1.58%	–
STZ	Exit	CONSTELLATION	$0	–	-47,324	–	-1.58%	–
HON	Exit	HONEYWELL INTL	$0	–	-65,300	–	-1.59%	–
AMT	Exit	AMERICAN TOWER	$0	–	-52,247	–	-1.64%	–
RIO	Exit	RIO TINTO	$0	–	-205,027	–	-1.64%	–
CAT	Exit	CATERPILLAR	$0	–	-69,004	–	-1.65%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-109,259	–	-1.66%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-70,533	–	-1.68%	–
AVGO	Exit	BROADCOM LTD	$0	–	-26,205	–	-1.70%	–
BX	Exit	BLACKSTONE	$0	–	-141,278	–	-1.72%	–
BAC	Exit	BANK OF AMERICA	$0	–	-399,520	–	-1.76%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,306,350	–	-1.79%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-1.79%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-104,400	–	-1.92%	–
ABBV	Exit	ABBVIE INC.	$0	–	-103,975	–	-2.03%	–
V	Exit	VISA INC CL A	$0	–	-103,425	–	-2.68%	–
PLD	Exit	PROLOGIS	$0	–	-191,346	–	-2.83%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-288,016	–	-3.44%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-79,412	–	-3.74%	–
NVDA	Exit	NVIDIA CORP	$0	–	-284,905	–	-5.04%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-162,311	–	-5.51%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-349,799	–	-7.04%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE COMPUTER	$48,342,000	+1.1%	349,799	+0.0%	7.04%	+11.5%
MSFT	Sell	MICROSOFT CORP	$37,802,000	-9.4%	162,311	-0.1%	5.51%	-0.1%
NVDA	Buy	NVIDIA CORP	$34,585,000	-19.8%	284,905	+0.1%	5.04%	-11.5%
AMAT	Sell	APPLIED MATERIALS	$23,597,000	-10.0%	288,016	-0.1%	3.44%	-0.7%
PLD	Buy	PROLOGIS	$19,441,000	-13.6%	191,346	+0.0%	2.83%	-4.7%
V	Buy	VISA INC CL A	$18,373,000	-9.8%	103,425	+0.0%	2.68%	-0.4%
BAC	Buy	BANK OF AMERICA	$12,066,000	-2.6%	399,520	+0.4%	1.76%	+7.5%
BX	Buy	BLACKSTONE	$11,825,000	-4.7%	141,278	+3.8%	1.72%	+5.1%
AVGO	Sell	BROADCOM LTD	$11,635,000	-9.0%	26,205	-0.4%	1.70%	+0.5%
JNJ	Sell	JOHN. & JOHN.	$11,522,000	-8.1%	70,533	-0.1%	1.68%	+1.4%
JPM	Sell	JP MORGAN CHASE	$11,418,000	-7.4%	109,259	-0.2%	1.66%	+2.2%
RIO	Sell	RIO TINTO	$11,289,000	-9.8%	205,027	-0.1%	1.64%	-0.5%
AMT	Buy	AMERICAN TOWER	$11,217,000	-16.0%	52,247	+0.0%	1.64%	-7.3%
HON	Sell	HONEYWELL INTL	$10,903,000	-4.2%	65,300	-0.3%	1.59%	+5.7%
ABT	Sell	ABBOTT LABS COM	$10,860,000	-11.1%	112,240	-0.2%	1.58%	-1.9%
LMT	Sell	LOCKHEED MARTIN	$10,031,000	-10.5%	25,967	-0.4%	1.46%	-1.2%
CCI	Sell	CROWN CASTLE INT'L	$9,653,000	-14.4%	66,779	-0.3%	1.41%	-5.5%
MRK	Sell	MERCK & CO INC	$9,185,000	-5.7%	106,654	-0.2%	1.34%	+4.0%
DIS	Buy	DISNEY, WALT CO	$8,634,000	+0.2%	91,529	+0.3%	1.26%	+10.5%
ADM	Sell	ARCHR DAN MIDLND	$7,774,000	+3.6%	96,632	-0.1%	1.13%	+14.3%
AMD	Buy	ADVANCED MICRO DEV	$7,312,000	-15.2%	115,410	+2.4%	1.07%	-6.3%
IBM	Buy	IBM CORPORATION	$7,144,000	-15.7%	60,130	+0.2%	1.04%	-7.0%
WFC	Buy	WELLS FARGO & CO	$6,801,000	+3.4%	169,088	+0.7%	0.99%	+14.0%
KRE	Sell	SPDR S&P REGIONAL BANKING	$6,563,000	+0.9%	111,470	-0.4%	0.96%	+11.3%
PFE	Buy	PFIZER INC	$6,530,000	-16.3%	149,227	+0.3%	0.95%	-7.7%
DLR	Buy	DIGITAL REALTY TR	$6,303,000	-23.5%	63,547	+0.2%	0.92%	-15.5%
ORCL	Sell	ORACLE CORP	$6,082,000	-28.8%	99,595	-18.5%	0.89%	-21.5%
AMZN	Sell	AMAZON.COM	$5,343,000	+6.1%	47,285	-0.2%	0.78%	+17.1%
FORD	Sell	FORD MOTOR CO	$5,301,000	-4.6%	473,300	-5.2%	0.77%	+5.3%
CRM	Sell	SALESFORCE.COM	$4,949,000	-25.2%	34,408	-14.2%	0.72%	-17.5%
VZ	Sell	VERIZON COMM	$4,711,000	-25.8%	124,076	-0.8%	0.69%	-18.1%
CMCSA	Sell	COMCAST CL A	$3,919,000	-26.7%	133,613	-2.0%	0.57%	-19.2%
XLK	Buy	TECHNOLOGY	$3,783,000	-6.0%	31,847	+0.6%	0.55%	+3.6%
WYNN	Sell	WYNN RESORTS LTD	$3,680,000	+9.1%	58,390	-1.4%	0.54%	+20.2%
GOOGL	Buy	ALPHABET CLASS A	$3,575,000	-11.6%	37,375	+1914.8%	0.52%	-2.4%
RCL	Sell	ROYAL CARIBBEAN	$3,353,000	+8.0%	88,465	-0.5%	0.49%	+19.3%
QQQ	Sell	INVESCO QQQ	$2,912,000	-5.9%	10,897	-1.2%	0.42%	+3.7%
XLV	Buy	HEALTH CARE	$2,445,000	-5.3%	20,192	+0.3%	0.36%	+4.4%
SPG	Buy	SIMON PPTY GRP INC	$2,261,000	-1.5%	25,189	+4.2%	0.33%	+8.9%
COST	Buy	COSTCO WHOLESALE	$2,255,000	+2.2%	4,774	+3.7%	0.33%	+12.7%
XOM	Buy	EXXON MOBIL CORP	$2,256,000	+2.5%	25,840	+0.5%	0.33%	+13.1%
RTX	Buy	RAYTHEON	$2,138,000	-13.3%	26,114	+1.8%	0.31%	-4.3%
XLI	Sell	INDUSTRIALS	$2,130,000	-6.6%	25,717	-1.5%	0.31%	+3.0%
WDAY	Buy	WORKDAY INC	$2,045,000	+14.0%	13,435	+4.5%	0.30%	+25.7%
LC	Sell	LENDINGCLUB CORP	$1,778,000	-11.2%	160,950	-6.0%	0.26%	-1.9%
IBB	Sell	BIOTECHNOLOGY	$1,674,000	-3.1%	14,310	-2.6%	0.24%	+7.0%
TSM	Sell	TAIWAN SEMI ADR	$1,561,000	-79.2%	22,775	-75.1%	0.23%	-77.0%
UBER	Buy	UBER TECHNOLOGIES	$1,340,000	+40.5%	50,550	+8.4%	0.20%	+54.8%
TU	Sell	TELUS CORP	$1,124,000	-60.2%	56,600	-55.3%	0.16%	-56.0%
XLY	Buy	CONSUMER DISCR	$1,013,000	+3.8%	7,113	+0.2%	0.15%	+14.7%
GD	Buy	GENERAL DYNAMICS	$986,000	+26.4%	4,645	+31.8%	0.14%	+39.8%
TSLA	Buy	TESLA MOTORS	$862,000	-4.0%	3,249	+143.7%	0.13%	+5.9%
XLB	Buy	MATERIALS	$848,000	-6.9%	12,467	+0.7%	0.12%	+3.3%
SBUX	Buy	STARBUCKS CORP	$795,000	+12.8%	9,432	+2.2%	0.12%	+24.7%
GOOG	Buy	ALPHABET CLASS C	$702,000	-12.0%	7,300	+1900.0%	0.10%	-2.9%
DVY	Buy	SELECT DIVIDEND	$597,000	-4.9%	5,565	+4.2%	0.09%	+4.8%
	Sell	VANGUARD 500 INDEX	$555,000	-10.3%	1,678	-5.3%	0.08%	-1.2%
C	Sell	CITIGROUP INC	$530,000	-19.8%	12,718	-11.5%	0.08%	-11.5%
XLF	Buy	FINANCIAL	$478,000	-1.8%	15,760	+1.7%	0.07%	+9.4%
JOET	Sell	VIRTUS TERRANOVA	$427,000	-41.7%	17,387	-40.5%	0.06%	-36.1%
DRIV	Sell	GLOBAL X ELECTRIC VEHICLES	$414,000	-8.6%	20,569	-2.5%	0.06%	0.0%
DIA	Buy	SPDR DOW JONES IND	$368,000	-6.6%	1,281	+0.2%	0.05%	+3.8%
COIN	Sell	COINBASE GLB	$322,000	+30.4%	5,000	-4.7%	0.05%	+42.4%
VTNR	Buy	VERTEX ENERGY	$305,000	+26.0%	49,000	+113.0%	0.04%	+37.5%
UNH	Buy	UNITEDHEALTH GROUP	$295,000	+18.5%	585	+20.6%	0.04%	+30.3%
CRUZ	Buy	DEFIANCE HOTEL,CRUISE	$288,000	-4.6%	20,450	+2.0%	0.04%	+5.0%
FISV	Sell	FISERV INC	$232,000	-59.2%	2,475	-61.3%	0.03%	-54.7%
KTOS	Sell	KRATOS DEFENSE	$235,000	-31.1%	23,100	-6.1%	0.03%	-24.4%
SEDG	New	SOLAREDGE TECH	$231,000	–	1,000	–	0.03%	–
FFTY	Buy	INNOVATOR IBD 50	$222,000	-5.9%	9,100	+3.4%	0.03%	+3.2%
	Sell	AMPLITUDE INC	$155,000	-34.3%	10,000	-39.4%	0.02%	-25.8%
XLC	Exit	COMM SERVICES	$0	–	-3,841	–	-0.03%	–
NSRGY	Exit	NESTLE SA	$0	–	-1,850	–	-0.03%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-3,500	–	-0.03%	–
INTC	Exit	INTEL CORPORATION	$0	–	-7,700	–	-0.04%	–
LEN	Exit	LENNAR CORP	$0	–	-4,625	–	-0.04%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE COMPUTER	$47,822,000	–	349,783	–	6.32%	–
NVDA	New	NVIDIA CORP	$43,124,000	–	284,480	–	5.70%	–
MSFT	New	MICROSOFT CORP	$41,737,000	–	162,510	–	5.51%	–
AMAT	New	APPLIED MATERIALS	$26,226,000	–	288,266	–	3.46%	–
LLY	New	LILLY, ELI & CO	$25,748,000	–	79,412	–	3.40%	–
PLD	New	PROLOGIS	$22,503,000	–	191,271	–	2.97%	–
V	New	VISA INC CL A	$20,362,000	–	103,419	–	2.69%	–
ABBV	New	ABBVIE INC.	$15,925,000	–	103,975	–	2.10%	–
QUOT	New	QUOTIENT TECH.	$15,760,000	–	5,306,350	–	2.08%	–
PG	New	PROCTER & GAMBLE	$15,012,000	–	104,400	–	1.98%	–
FRC	New	FIRST REPUBLIC	$13,555,000	–	94,000	–	1.79%	–
AMT	New	AMERICAN TOWER	$13,347,000	–	52,222	–	1.76%	–
AVGO	New	BROADCOM LTD	$12,779,000	–	26,305	–	1.69%	–
JNJ	New	JOHN. & JOHN.	$12,537,000	–	70,629	–	1.66%	–
RIO	New	RIO TINTO	$12,521,000	–	205,262	–	1.65%	–
BX	New	BLACKSTONE	$12,414,000	–	136,075	–	1.64%	–
BAC	New	BANK OF AMERICA	$12,389,000	–	397,970	–	1.64%	–
CAT	New	CATERPILLAR	$12,335,000	–	69,004	–	1.63%	–
JPM	New	JP MORGAN CHASE	$12,326,000	–	109,456	–	1.63%	–
ABT	New	ABBOTT LABS COM	$12,222,000	–	112,490	–	1.61%	–
NOW	New	SERVICENOW, INC	$11,969,000	–	25,170	–	1.58%	–
HON	New	HONEYWELL INTL	$11,384,000	–	65,499	–	1.50%	–
CCI	New	CROWN CASTLE INT'L	$11,275,000	–	66,964	–	1.49%	–
LMT	New	LOCKHEED MARTIN	$11,208,000	–	26,067	–	1.48%	–
UNP	New	UNION PACIFIC	$11,130,000	–	52,183	–	1.47%	–
STZ	New	CONSTELLATION	$11,029,000	–	47,324	–	1.46%	–
HD	New	HOME DEPOT INC	$10,297,000	–	37,545	–	1.36%	–
ATVI	New	ACTIVISION	$10,298,000	–	132,265	–	1.36%	–
MRK	New	MERCK & CO INC	$9,742,000	–	106,853	–	1.29%	–
MS	New	MORGAN STANLEY	$9,224,000	–	121,275	–	1.22%	–
AMD	New	ADVANCED MICRO DEV	$8,619,000	–	112,710	–	1.14%	–
DIS	New	DISNEY, WALT CO	$8,614,000	–	91,254	–	1.14%	–
ORCL	New	ORACLE CORP	$8,537,000	–	122,183	–	1.13%	–
IBM	New	IBM CORPORATION	$8,472,000	–	60,005	–	1.12%	–
BMY	New	BRISTOL-MYERS	$8,359,000	–	108,560	–	1.10%	–
DLR	New	DIGITAL REALTY TR	$8,234,000	–	63,420	–	1.09%	–
CVX	New	CHEVRON CORP	$8,165,000	–	56,396	–	1.08%	–
PEP	New	PEPSICO INC	$8,000,000	–	48,000	–	1.06%	–
PFE	New	PFIZER INC	$7,803,000	–	148,827	–	1.03%	–
MDT	New	MEDTRONIC PLC	$7,748,000	–	86,325	–	1.02%	–
ADM	New	ARCHR DAN MIDLND	$7,506,000	–	96,732	–	0.99%	–
TSM	New	TAIWAN SEMI ADR	$7,490,000	–	91,625	–	0.99%	–
BA	New	BOEING	$7,269,000	–	53,170	–	0.96%	–
MAR	New	MARRIOTT INTL	$6,800,000	–	50,000	–	0.90%	–
CRM	New	SALESFORCE.COM	$6,617,000	–	40,096	–	0.87%	–
WFC	New	WELLS FARGO & CO	$6,580,000	–	167,985	–	0.87%	–
VMC	New	VULCAN MATERIALS	$6,508,000	–	45,802	–	0.86%	–
KRE	New	SPDR S&P REGIONAL BANKING	$6,503,000	–	111,945	–	0.86%	–
VZ	New	VERIZON COMM	$6,350,000	–	125,122	–	0.84%	–
FORD	New	FORD MOTOR CO	$5,557,000	–	499,300	–	0.73%	–
CMCSA	New	COMCAST CL A	$5,349,000	–	136,313	–	0.71%	–
AMZN	New	AMAZON.COM	$5,034,000	–	47,400	–	0.66%	–
MO	New	ALTRIA GROUP INC	$4,527,000	–	108,386	–	0.60%	–
MMM	New	3M COMPANY	$4,413,000	–	34,100	–	0.58%	–
WMT	New	WAL-MART STORES	$4,220,000	–	34,707	–	0.56%	–
GOOGL	New	ALPHABET CLASS A	$4,043,000	–	1,855	–	0.53%	–
XLK	New	TECHNOLOGY	$4,026,000	–	31,670	–	0.53%	–
ABNB	New	AIRBNB	$3,871,000	–	43,455	–	0.51%	–
WYNN	New	WYNN RESORTS LTD	$3,373,000	–	59,190	–	0.45%	–
AXP	New	AMERICAN EXPRESS	$3,183,000	–	22,960	–	0.42%	–
RCL	New	ROYAL CARIBBEAN	$3,104,000	–	88,915	–	0.41%	–
QQQ	New	INVESCO QQQ	$3,093,000	–	11,034	–	0.41%	–
TU	New	TELUS CORP	$2,823,000	–	126,700	–	0.37%	–
XLV	New	HEALTH CARE	$2,582,000	–	20,137	–	0.34%	–
FCX	New	FREEPORT MCMORAN	$2,502,000	–	85,500	–	0.33%	–
RTX	New	RAYTHEON	$2,467,000	–	25,664	–	0.33%	–
SPG	New	SIMON PPTY GRP INC	$2,296,000	–	24,185	–	0.30%	–
XLI	New	INDUSTRIALS	$2,281,000	–	26,114	–	0.30%	–
COST	New	COSTCO WHOLESALE	$2,207,000	–	4,604	–	0.29%	–
XOM	New	EXXON MOBIL CORP	$2,201,000	–	25,700	–	0.29%	–
LC	New	LENDINGCLUB CORP	$2,002,000	–	171,250	–	0.26%	–
WDAY	New	WORKDAY INC	$1,794,000	–	12,855	–	0.24%	–
IBB	New	BIOTECHNOLOGY	$1,727,000	–	14,685	–	0.23%	–
SONY	New	SONY CORP	$1,096,000	–	13,400	–	0.14%	–
FB	New	META PLATFORMS	$1,084,000	–	6,725	–	0.14%	–
CPT	New	CAMDEN PROPERTY	$1,064,000	–	7,909	–	0.14%	–
STWD	New	STARWOOD PROP	$1,051,000	–	50,300	–	0.14%	–
XLY	New	CONSUMER DISCR	$976,000	–	7,102	–	0.13%	–
EPD	New	ENTERPRISE PRODS	$977,000	–	40,100	–	0.13%	–
UBER	New	UBER TECHNOLOGIES	$954,000	–	46,650	–	0.13%	–
XLB	New	MATERIALS	$911,000	–	12,382	–	0.12%	–
TSLA	New	TESLA MOTORS	$898,000	–	1,333	–	0.12%	–
CLX	New	CLOROX COMPANY	$846,000	–	6,000	–	0.11%	–
HPQ	New	HP INC.	$839,000	–	25,600	–	0.11%	–
AVB	New	AVALONBAY	$813,000	–	4,185	–	0.11%	–
GOOG	New	ALPHABET CLASS C	$798,000	–	365	–	0.10%	–
GD	New	GENERAL DYNAMICS	$780,000	–	3,525	–	0.10%	–
JOET	New	VIRTUS TERRANOVA	$733,000	–	29,212	–	0.10%	–
SBUX	New	STARBUCKS CORP	$705,000	–	9,232	–	0.09%	–
C	New	CITIGROUP INC	$661,000	–	14,363	–	0.09%	–
DVY	New	SELECT DIVIDEND	$628,000	–	5,340	–	0.08%	–
	New	VANGUARD 500 INDEX	$619,000	–	1,772	–	0.08%	–
FISV	New	FISERV INC	$569,000	–	6,400	–	0.08%	–
CI	New	CIGNA CORP	$527,000	–	2,000	–	0.07%	–
XLF	New	FINANCIAL	$487,000	–	15,495	–	0.06%	–
DRIV	New	GLOBAL X ELECTRIC VEHICLES	$453,000	–	21,104	–	0.06%	–
BEN	New	FRANKLIN RES	$392,000	–	16,800	–	0.05%	–
DIA	New	SPDR DOW JONES IND	$394,000	–	1,279	–	0.05%	–
MMP	New	MAGELLAN	$349,000	–	7,300	–	0.05%	–
KTOS	New	KRATOS DEFENSE	$341,000	–	24,600	–	0.04%	–
HPE	New	HEWLETT-PACKARD	$339,000	–	25,600	–	0.04%	–
IGM	New	EXPANDED TECH	$343,000	–	1,166	–	0.04%	–
ADBE	New	ADOBE SYSTEMS	$326,000	–	890	–	0.04%	–
LEN	New	LENNAR CORP	$326,000	–	4,625	–	0.04%	–
VTR	New	VENTAS INC.	$309,000	–	6,000	–	0.04%	–
CRUZ	New	DEFIANCE HOTEL,CRUISE	$302,000	–	20,050	–	0.04%	–
INTC	New	INTEL CORPORATION	$288,000	–	7,700	–	0.04%	–
LYV	New	LIVE NATION	$275,000	–	3,325	–	0.04%	–
FLO	New	FLOWERS FOODS	$263,000	–	10,000	–	0.04%	–
TRP	New	TC ENERGY CORP	$259,000	–	5,000	–	0.03%	–
COIN	New	COINBASE GLB	$247,000	–	5,245	–	0.03%	–
T	New	AT&T	$252,000	–	12,000	–	0.03%	–
UNH	New	UNITEDHEALTH GROUP	$249,000	–	485	–	0.03%	–
CBOBA	New	COMMUNITY BANK OF THE BAY	$253,000	–	30,000	–	0.03%	–
VTNR	New	VERTEX ENERGY	$242,000	–	23,000	–	0.03%	–
	New	AMPLITUDE INC	$236,000	–	16,500	–	0.03%	–
FFTY	New	INNOVATOR IBD 50	$236,000	–	8,800	–	0.03%	–
MCD	New	MCDONALDS	$221,000	–	894	–	0.03%	–
MDLZ	New	MONDELEZ INTL	$217,000	–	3,500	–	0.03%	–
GPS	New	GAP INC	$219,000	–	26,600	–	0.03%	–
NSRGY	New	NESTLE SA	$215,000	–	1,850	–	0.03%	–
XLC	New	COMM SERVICES	$208,000	–	3,841	–	0.03%	–
NAC	New	NVN CA DIV ADV MUNI	$185,000	–	15,000	–	0.02%	–
CLNE	New	CLEAN ENRGY FUEL	$47,000	–	10,500	–	0.01%	–
TLRY	New	TILRAY INC	$36,000	–	11,633	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
AUSI	Exit	AURA SYSTEMS	$0	–	-10,000	–	-0.00%	–
	Exit	SLANG WORLDWIDE	$0	–	-100,000	–	-0.00%	–
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-10,500	–	-0.01%	–
ET	Exit	ENERGY TRANSFER	$0	–	-11,936	–	-0.01%	–
	Exit	VANGUARD WELLINGTON	$0	–	-2,399	–	-0.02%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-3,500	–	-0.02%	–
TLRY	Exit	TILRAY INC	$0	–	-18,633	–	-0.02%	–
MCD	Exit	MCDONALDS	$0	–	-894	–	-0.02%	–
	Exit	SCHWAB TTL STCK	$0	–	-2,851	–	-0.02%	–
IWM	Exit	ISHARES RUSSELL 2000	$0	–	-1,025	–	-0.02%	–
NAC	Exit	NVN CA DIV ADV MUNI	$0	–	-15,000	–	-0.03%	–
CBOBA	Exit	COMMUNITY BANK OF THE BAY	$0	–	-30,000	–	-0.03%	–
MRNA	Exit	MODERNA INC	$0	–	-600	–	-0.03%	–
FLO	Exit	FLOWERS FOODS	$0	–	-10,000	–	-0.03%	–
NSRGY	Exit	NESTLE SA	$0	–	-1,975	–	-0.03%	–
	Exit	FIDELITY INTL INDX-INST PRM	$0	–	-4,805	–	-0.03%	–
TRP	Exit	TC ENERGY CORP	$0	–	-5,000	–	-0.03%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-460	–	-0.03%	–
SEDG	Exit	SOLAREDGE TECH	$0	–	-1,000	–	-0.03%	–
WM	Exit	WASTE MANAGEMENT	$0	–	-1,900	–	-0.03%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.04%	–
MMP	Exit	MAGELLAN	$0	–	-7,300	–	-0.04%	–
LYV	Exit	LIVE NATION	$0	–	-3,600	–	-0.04%	–
VTR	Exit	VENTAS INC.	$0	–	-6,000	–	-0.04%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-7,000	–	-0.04%	–
PYPL	Exit	PAYPAL	$0	–	-1,329	–	-0.04%	–
XLC	Exit	COMM SERVICES	$0	–	-4,541	–	-0.04%	–
HPE	Exit	HEWLETT-PACKARD	$0	–	-25,600	–	-0.04%	–
XLF	Exit	FINANCIAL	$0	–	-10,035	–	-0.04%	–
INTC	Exit	INTEL CORPORATION	$0	–	-7,350	–	-0.04%	–
CI	Exit	CIGNA CORP	$0	–	-2,000	–	-0.04%	–
	Exit	ISHARES SIlVER	$0	–	-20,000	–	-0.05%	–
DRIV	Exit	GLOBAL X ELECTRIC VEHICLES	$0	–	-16,475	–	-0.05%	–
LEN	Exit	LENNAR CORP	$0	–	-4,975	–	-0.05%	–
COIN	Exit	COINBASE GLB	$0	–	-2,020	–	-0.05%	–
SQ	Exit	SQUARE INC	$0	–	-1,931	–	-0.05%	–
IGM	Exit	EXPANDED TECH	$0	–	-1,166	–	-0.05%	–
DIA	Exit	SPDR DOW JONES IND	$0	–	-1,380	–	-0.05%	–
FFTY	Exit	INNOVATOR IBD 50	$0	–	-11,350	–	-0.06%	–
SHOP	Exit	SHOPIFY INC	$0	–	-398	–	-0.06%	–
DVY	Exit	SELECT DIVIDEND	$0	–	-4,993	–	-0.06%	–
MAC	Exit	MACERICH CO	$0	–	-34,000	–	-0.06%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-990	–	-0.06%	–
COTY	Exit	COTY INC	$0	–	-74,500	–	-0.07%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.07%	–
GLD	Exit	SPDR GOLD SHARES	$0	–	-4,200	–	-0.08%	–
HPQ	Exit	HP INC.	$0	–	-25,600	–	-0.08%	–
JOET	Exit	VIRTUS TERRANOVA	$0	–	-25,110	–	-0.08%	–
TSLA	Exit	TESLA MOTORS	$0	–	-1,063	–	-0.09%	–
XLB	Exit	MATERIALS	$0	–	-10,827	–	-0.10%	–
	Exit	VANGUARD 500 INDEX	$0	–	-2,209	–	-0.10%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-42,100	–	-0.10%	–
AVB	Exit	AVALONBAY	$0	–	-4,185	–	-0.10%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-365	–	-0.11%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.11%	–
USO	Exit	US OIL	$0	–	-20,000	–	-0.12%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-10,172	–	-0.13%	–
UBER	Exit	UBER TECHNOLOGIES	$0	–	-25,350	–	-0.13%	–
STWD	Exit	STARWOOD PROP	$0	–	-48,300	–	-0.13%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-8,009	–	-0.13%	–
C	Exit	CITIGROUP INC	$0	–	-17,550	–	-0.14%	–
XLY	Exit	CONSUMER DISCR	$0	–	-6,925	–	-0.14%	–
KTOS	Exit	KRATOS DEFENSE	$0	–	-61,200	–	-0.15%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-25,600	–	-0.17%	–
SONY	Exit	SONY CORP	$0	–	-14,675	–	-0.18%	–
PPA	Exit	INVESCO AEROSP & DEF	$0	–	-23,868	–	-0.19%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-4,109	–	-0.21%	–
FB	Exit	FACEBOOK, INC.	$0	–	-5,834	–	-0.22%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-17,502	–	-0.26%	–
XLV	Exit	HEALTH CARE	$0	–	-18,534	–	-0.26%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-886	–	-0.27%	–
LHX	Exit	L3HARRIS TECH	$0	–	-10,835	–	-0.27%	–
TU	Exit	TELUS CORP	$0	–	-109,400	–	-0.27%	–
RTX	Exit	RAYTHEON	$0	–	-28,013	–	-0.27%	–
IBB	Exit	BIOTECHNOLOGY	$0	–	-15,015	–	-0.27%	–
XLI	Exit	INDUSTRIALS	$0	–	-28,664	–	-0.32%	–
WDAY	Exit	WORKDAY INC	$0	–	-11,330	–	-0.32%	–
LC	Exit	LENDINGCLUB CORP	$0	–	-104,500	–	-0.33%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-95,000	–	-0.35%	–
X	Exit	US STEEL CORP	$0	–	-141,750	–	-0.35%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-22,960	–	-0.43%	–
QQQ	Exit	INVESCO QQQ	$0	–	-12,526	–	-0.50%	–
FISV	Exit	FISERV INC	$0	–	-42,140	–	-0.51%	–
XLK	Exit	TECHNOLOGY	$0	–	-31,270	–	-0.52%	–
WMT	Exit	WAL-MART STORES	$0	–	-34,707	–	-0.54%	–
AMZN	Exit	AMAZON.COM	$0	–	-1,610	–	-0.60%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-116,636	–	-0.60%	–
IBM	Exit	IBM CORPORATION	$0	–	-38,830	–	-0.61%	–
CVX	Exit	CHEVRON CORP	$0	–	-55,946	–	-0.64%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-69,340	–	-0.66%	–
MMM	Exit	3M COMPANY	$0	–	-34,100	–	-0.67%	–
ADM	Exit	ARCHR DAN MIDLND	$0	–	-101,390	–	-0.68%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-107,360	–	-0.72%	–
PFE	Exit	PFIZER INC	$0	–	-147,702	–	-0.72%	–
VZ	Exit	VERIZON COMM	$0	–	-125,052	–	-0.76%	–
RCL	Exit	ROYAL CARIBBEAN	$0	–	-77,840	–	-0.78%	–
MOS	Exit	MOSAIC CO	$0	–	-197,403	–	-0.79%	–
PEP	Exit	PEPSICO INC	$0	–	-48,000	–	-0.81%	–
MAR	Exit	MARRIOTT INTL	$0	–	-50,000	–	-0.83%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-164,103	–	-0.86%	–
CMCSA	Exit	COMCAST CL A	$0	–	-137,013	–	-0.86%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-45,802	–	-0.87%	–
MRK	Exit	MERCK & CO INC	$0	–	-107,848	–	-0.91%	–
DLR	Exit	DIGITAL REALTY TR	$0	–	-61,463	–	-1.00%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-26,192	–	-1.02%	–
ABNB	Exit	AIRBNB	$0	–	-57,355	–	-1.08%	–
AMD	Exit	ADVANCED MICRO DEV	$0	–	-93,925	–	-1.09%	–
CONE	Exit	CYRUSONE INC	$0	–	-126,150	–	-1.10%	–
CRM	Exit	SALESFORCE.COM	$0	–	-36,496	–	-1.11%	–
STZ	Exit	CONSTELLATION	$0	–	-48,274	–	-1.14%	–
TSM	Exit	TAIWAN SEMI ADR	$0	–	-91,436	–	-1.15%	–
UNP	Exit	UNION PACIFIC	$0	–	-52,283	–	-1.15%	–
ORCL	Exit	ORACLE CORP	$0	–	-123,781	–	-1.21%	–
ABBV	Exit	ABBVIE INC.	$0	–	-106,225	–	-1.29%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-71,338	–	-1.30%	–
MS	Exit	MORGAN STANLEY	$0	–	-118,950	–	-1.30%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-69,203	–	-1.35%	–
ATVI	Exit	ACTIVISION	$0	–	-159,845	–	-1.39%	–
HD	Exit	HOME DEPOT INC	$0	–	-37,770	–	-1.40%	–
AVGO	Exit	BROADCOM LTD	$0	–	-26,305	–	-1.44%	–
BA	Exit	BOEING	$0	–	-59,400	–	-1.47%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-113,090	–	-1.50%	–
CAT	Exit	CATERPILLAR	$0	–	-69,604	–	-1.50%	–
BX	Exit	BLACKSTONE	$0	–	-117,800	–	-1.54%	–
AMT	Exit	AMERICAN TOWER	$0	–	-51,707	–	-1.54%	–
RIO	Exit	RIO TINTO	$0	–	-208,146	–	-1.56%	–
HON	Exit	HONEYWELL INTL	$0	–	-66,195	–	-1.58%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-112,950	–	-1.59%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-104,400	–	-1.64%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-89,219	–	-1.70%	–
NOW	Exit	SERVICENOW, INC	$0	–	-25,545	–	-1.79%	–
BAC	Exit	BANK OF AMERICA	$0	–	-395,720	–	-1.89%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-110,048	–	-2.03%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-2.04%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-79,412	–	-2.06%	–
V	Exit	VISA INC CL A	$0	–	-107,116	–	-2.68%	–
PLD	Exit	PROLOGIS	$0	–	-191,071	–	-2.70%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,306,350	–	-3.47%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-252,966	–	-3.66%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-165,195	–	-5.24%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-356,455	–	-5.67%	–
NVDA	Exit	NVIDIA CORP	$0	–	-278,740	–	-6.50%	–

Q3 2021

			Value		Shares		↓ Weighting
NVDA	Buy	NVIDIA CORP	$57,744,000	+3.2%	278,740	+298.5%	6.50%	+6.9%
AAPL	Sell	APPLE COMPUTER	$50,438,000	+3.1%	356,455	-0.2%	5.67%	+6.8%
MSFT	Sell	MICROSOFT CORP	$46,572,000	+3.8%	165,195	-0.2%	5.24%	+7.6%
AMAT	Sell	APPLIED MATERIALS	$32,564,000	-9.6%	252,966	-0.0%	3.66%	-6.4%
V	Buy	VISA INC CL A	$23,860,000	-4.5%	107,116	+0.3%	2.68%	-1.1%
LLY	Buy	LILLY, ELI & CO	$18,348,000	+0.7%	79,412	+0.0%	2.06%	+4.3%
JPM	Sell	JP MORGAN CHASE	$18,014,000	+5.1%	110,048	-0.1%	2.03%	+9.0%
BAC	Sell	BANK OF AMERICA	$16,798,000	+2.8%	395,720	-0.1%	1.89%	+6.5%
DIS	Buy	DISNEY, WALT CO	$15,093,000	-2.7%	89,219	+1.1%	1.70%	+0.8%
MDT	Buy	MEDTRONIC PLC	$14,158,000	+1.9%	112,950	+0.9%	1.59%	+5.6%
HON	Sell	HONEYWELL INTL	$14,052,000	-3.4%	66,195	-0.1%	1.58%	+0.1%
RIO	Buy	RIO TINTO	$13,908,000	-19.5%	208,146	+1.0%	1.56%	-16.6%
AMT	Buy	AMERICAN TOWER	$13,724,000	-1.5%	51,707	+0.3%	1.54%	+2.0%
BX	Sell	BLACKSTONE	$13,705,000	+19.6%	117,800	-0.2%	1.54%	+23.9%
CAT	Buy	CATERPILLAR	$13,362,000	-11.8%	69,604	+0.0%	1.50%	-8.6%
ABT	Buy	ABBOTT LABS COM	$13,359,000	+2.4%	113,090	+0.5%	1.50%	+6.1%
BA	Buy	BOEING	$13,065,000	-5.6%	59,400	+2.9%	1.47%	-2.1%
HD	Buy	HOME DEPOT INC	$12,398,000	+3.0%	37,770	+0.0%	1.40%	+6.7%
ATVI	Sell	ACTIVISION	$12,370,000	-32.2%	159,845	-16.4%	1.39%	-29.8%
CCI	Sell	CROWN CASTLE INT'L	$11,994,000	-11.2%	69,203	-0.1%	1.35%	-8.0%
JNJ	Buy	JOHN. & JOHN.	$11,521,000	-1.6%	71,338	+0.4%	1.30%	+2.0%
ABBV	Buy	ABBVIE INC.	$11,458,000	-2.2%	106,225	+2.1%	1.29%	+1.3%
ORCL	Buy	ORACLE CORP	$10,785,000	+13.5%	123,781	+1.4%	1.21%	+17.5%
TSM	Sell	TAIWAN SEMI ADR	$10,209,000	-9.0%	91,436	-2.1%	1.15%	-5.8%
STZ	Buy	CONSTELLATION	$10,171,000	-9.9%	48,274	+0.0%	1.14%	-6.7%
CRM	Buy	SALESFORCE.COM	$9,898,000	+12.3%	36,496	+1.2%	1.11%	+16.4%
AMD	Sell	ADVANCED MICRO DEV	$9,665,000	+7.9%	93,925	-1.5%	1.09%	+11.8%
ABNB	Buy	AIRBNB	$9,621,000	+12.4%	57,355	+2.7%	1.08%	+16.5%
LMT	Buy	LOCKHEED MARTIN	$9,039,000	-8.7%	26,192	+0.1%	1.02%	-5.4%
MRK	Buy	MERCK & CO INC	$8,100,000	-3.3%	107,848	+0.2%	0.91%	+0.2%
VMC	Buy	VULCAN MATERIALS	$7,748,000	-2.8%	45,802	+0.0%	0.87%	+0.7%
WFC	Buy	WELLS FARGO & CO	$7,616,000	+8.6%	164,103	+6.0%	0.86%	+12.6%
MOS	Buy	MOSAIC CO	$7,051,000	+13.8%	197,403	+1.7%	0.79%	+17.8%
RCL	Buy	ROYAL CARIBBEAN	$6,924,000	+4.7%	77,840	+0.4%	0.78%	+8.5%
VZ	Sell	VERIZON COMM	$6,754,000	-4.1%	125,052	-0.5%	0.76%	-0.7%
PFE	Buy	PFIZER INC	$6,353,000	+11.4%	147,702	+1.4%	0.72%	+15.3%
ADM	Buy	ARCHR DAN MIDLND	$6,084,000	-0.9%	101,390	+0.1%	0.68%	+2.7%
WYNN	Buy	WYNN RESORTS LTD	$5,877,000	+119.5%	69,340	+216.8%	0.66%	+127.1%
AMZN	Buy	AMAZON.COM	$5,289,000	-2.7%	1,610	+1.9%	0.60%	+0.8%
WMT	Buy	WAL-MART STORES	$4,838,000	-1.1%	34,707	+0.0%	0.54%	+2.4%
XLK	Buy	TECHNOLOGY	$4,669,000	+2.2%	31,270	+1.1%	0.52%	+5.8%
FISV	Buy	FISERV INC	$4,572,000	+17.1%	42,140	+15.3%	0.51%	+21.2%
QQQ	Sell	INVESCO QQQ	$4,484,000	+0.0%	12,526	-0.9%	0.50%	+3.5%
X	Buy	US STEEL CORP	$3,114,000	+52.3%	141,750	+66.4%	0.35%	+57.7%
FCX	Sell	FREEPORT MCMORAN	$3,090,000	-12.5%	95,000	-0.2%	0.35%	-9.4%
LC	Buy	LENDINGCLUB CORP	$2,951,000	+95.6%	104,500	+25.5%	0.33%	+102.4%
WDAY	Buy	WORKDAY INC	$2,831,000	+14.5%	11,330	+9.4%	0.32%	+18.7%
XLI	Sell	INDUSTRIALS	$2,805,000	-4.5%	28,664	-0.1%	0.32%	-0.9%
IBB	Buy	BIOTECHNOLOGY	$2,428,000	-0.5%	15,015	+0.7%	0.27%	+3.0%
RTX	Buy	RAYTHEON	$2,408,000	+3.3%	28,013	+2.6%	0.27%	+7.1%
TU	New	TELUS CORP	$2,402,000	–	109,400	–	0.27%	–
LHX	Sell	L3HARRIS TECH	$2,386,000	+0.3%	10,835	-1.6%	0.27%	+3.9%
GOOGL	Buy	ALPHABET CLASS A	$2,369,000	+14.7%	886	+4.7%	0.27%	+19.2%
XLV	Buy	HEALTH CARE	$2,359,000	+1.3%	18,534	+0.2%	0.26%	+4.7%
SPG	Buy	SIMON PPTY GRP INC	$2,275,000	+109.5%	17,502	+110.2%	0.26%	+116.9%
COST	Buy	COSTCO WHOLESALE	$1,846,000	+18.1%	4,109	+4.1%	0.21%	+22.4%
PPA	Sell	INVESCO AEROSP & DEF	$1,716,000	-4.5%	23,868	-0.1%	0.19%	-1.0%
SONY	Buy	SONY CORP	$1,623,000	+14.7%	14,675	+0.9%	0.18%	+18.8%
KTOS	New	KRATOS DEFENSE	$1,365,000	–	61,200	–	0.15%	–
XLY	Buy	CONSUMER DISCR	$1,243,000	+2.6%	6,925	+2.1%	0.14%	+6.1%
C	Sell	CITIGROUP INC	$1,232,000	-5.2%	17,550	-4.5%	0.14%	-1.4%
UBER	Buy	UBER TECHNOLOGIES	$1,136,000	+80.6%	25,350	+102.0%	0.13%	+88.2%
SBUX	Buy	STARBUCKS CORP	$1,122,000	+1.2%	10,172	+2.5%	0.13%	+5.0%
	Sell	VANGUARD 500 INDEX	$878,000	-11.3%	2,209	-11.5%	0.10%	-8.3%
XLB	Buy	MATERIALS	$857,000	-3.3%	10,827	+0.6%	0.10%	0.0%
JOET	Buy	VIRTUS TERRANOVA	$742,000	+9.0%	25,110	+7.3%	0.08%	+12.2%
COTY	Buy	COTY INC	$586,000	+26.8%	74,500	+50.5%	0.07%	+32.0%
DVY	Buy	SELECT DIVIDEND	$573,000	-0.2%	4,993	+1.5%	0.06%	+3.2%
MAC	Sell	MACERICH CO	$568,000	-24.1%	34,000	-17.1%	0.06%	-21.0%
FFTY	Buy	INNOVATOR IBD 50	$538,000	+3.3%	11,350	+0.9%	0.06%	+7.0%
DIA	Sell	SPDR DOW JONES IND	$467,000	-5.1%	1,380	-3.2%	0.05%	0.0%
IGM	Sell	EXPANDED TECH	$471,000	-0.8%	1,166	-0.9%	0.05%	+1.9%
COIN	Buy	COINBASE GLB	$460,000	+50.3%	2,020	+66.9%	0.05%	+57.6%
SQ	Buy	SQUARE INC	$463,000	+104.0%	1,931	+107.4%	0.05%	+108.0%
LEN	Buy	LENNAR CORP	$466,000	-3.7%	4,975	+2.1%	0.05%	-1.9%
DRIV	Buy	GLOBAL X ELECTRIC VEHICLES	$452,000	+3.7%	16,475	+7.0%	0.05%	+8.5%
INTC	Sell	INTEL CORPORATION	$392,000	-70.6%	7,350	-69.1%	0.04%	-69.7%
XLF	Buy	FINANCIAL	$377,000	+5.3%	10,035	+3.0%	0.04%	+7.7%
XLC	Buy	COMM SERVICES	$364,000	+0.6%	4,541	+1.7%	0.04%	+5.1%
LYV	Buy	LIVE NATION	$328,000	+19.7%	3,600	+15.2%	0.04%	+23.3%
MRNA	New	MODERNA INC	$231,000	–	600	–	0.03%	–
IWM	Buy	ISHARES RUSSELL 2000	$224,000	-2.2%	1,025	+2.5%	0.02%	0.0%
TLRY	New	TILRAY INC	$210,000	–	18,633	–	0.02%	–
MCD	Buy	MCDONALDS	$216,000	+4.9%	894	+0.3%	0.02%	+9.1%
	New	VANGUARD WELLINGTON	$201,000	–	2,399	–	0.02%	–
ET	Sell	ENERGY TRANSFER	$114,000	-16.2%	11,936	-6.8%	0.01%	-13.3%
CLNE	New	CLEAN ENRGY FUEL	$86,000	–	10,500	–	0.01%	–
	Exit	VANGUARD CA INT	$0	–	-10,198	–	-0.01%	–
	Exit	VANGUARD CA LONG	$0	–	-10,271	–	-0.01%	–
	Exit	FIDELITY VALUE FUND	$0	–	-10,575	–	-0.02%	–
BRKB	Exit	BERKSHIRE HATH.	$0	–	-726	–	-0.02%	–
BABA	Exit	ALIBABA GROUP	$0	–	-1,200	–	-0.03%	–
LITE	Exit	LUMENTUM HLDG	$0	–	-26,625	–	-0.24%	–
MU	Exit	MICRON TECHNOLOGY	$0	–	-108,275	–	-1.00%	–

Q2 2021

			Value		Shares		↓ Weighting
QUOT	New	QUOTIENT TECH.	$57,362,000	–	5,306,350	–	6.23%	–
NVDA	New	NVIDIA CORP	$55,971,000	–	69,955	–	6.08%	–
AAPL	New	APPLE COMPUTER	$48,905,000	–	357,073	–	5.31%	–
MSFT	New	MICROSOFT CORP	$44,855,000	–	165,577	–	4.87%	–
AMAT	New	APPLIED MATERIALS	$36,036,000	–	253,060	–	3.91%	–
V	New	VISA INC CL A	$24,981,000	–	106,840	–	2.71%	–
PLD	New	PROLOGIS	$22,839,000	–	191,071	–	2.48%	–
ATVI	New	ACTIVISION	$18,248,000	–	191,195	–	1.98%	–
LLY	New	LILLY, ELI & CO	$18,225,000	–	79,407	–	1.98%	–
FRC	New	FIRST REPUBLIC	$17,594,000	–	94,000	–	1.91%	–
RIO	New	RIO TINTO	$17,287,000	–	206,065	–	1.88%	–
JPM	New	JP MORGAN CHASE	$17,132,000	–	110,146	–	1.86%	–
BAC	New	BANK OF AMERICA	$16,335,000	–	396,196	–	1.77%	–
DIS	New	DISNEY, WALT CO	$15,511,000	–	88,244	–	1.68%	–
CAT	New	CATERPILLAR	$15,147,000	–	69,600	–	1.64%	–
HON	New	HONEYWELL INTL	$14,541,000	–	66,290	–	1.58%	–
PG	New	PROCTER & GAMBLE	$14,087,000	–	104,400	–	1.53%	–
NOW	New	SERVICENOW, INC	$14,038,000	–	25,545	–	1.52%	–
AMT	New	AMERICAN TOWER	$13,928,000	–	51,557	–	1.51%	–
MDT	New	MEDTRONIC PLC	$13,899,000	–	111,975	–	1.51%	–
BA	New	BOEING	$13,835,000	–	57,750	–	1.50%	–
CCI	New	CROWN CASTLE INT'L	$13,511,000	–	69,251	–	1.47%	–
ABT	New	ABBOTT LABS COM	$13,050,000	–	112,565	–	1.42%	–
AVGO	New	BROADCOM LTD	$12,543,000	–	26,305	–	1.36%	–
HD	New	HOME DEPOT INC	$12,042,000	–	37,762	–	1.31%	–
ABBV	New	ABBVIE INC.	$11,715,000	–	104,000	–	1.27%	–
JNJ	New	JOHN. & JOHN.	$11,708,000	–	71,070	–	1.27%	–
UNP	New	UNION PACIFIC	$11,499,000	–	52,283	–	1.25%	–
BX	New	BLACKSTONE	$11,463,000	–	118,000	–	1.24%	–
STZ	New	CONSTELLATION	$11,290,000	–	48,272	–	1.23%	–
TSM	New	TAIWAN SEMI ADR	$11,224,000	–	93,411	–	1.22%	–
MS	New	MORGAN STANLEY	$10,907,000	–	118,950	–	1.18%	–
LMT	New	LOCKHEED MARTIN	$9,901,000	–	26,168	–	1.08%	–
ORCL	New	ORACLE CORP	$9,499,000	–	122,031	–	1.03%	–
DLR	New	DIGITAL REALTY TR	$9,248,000	–	61,463	–	1.00%	–
MU	New	MICRON TECHNOLOGY	$9,201,000	–	108,275	–	1.00%	–
CONE	New	CYRUSONE INC	$9,022,000	–	126,150	–	0.98%	–
AMD	New	ADVANCED MICRO DEV	$8,954,000	–	95,325	–	0.97%	–
CRM	New	SALESFORCE.COM	$8,811,000	–	36,071	–	0.96%	–
ABNB	New	AIRBNB	$8,556,000	–	55,870	–	0.93%	–
MRK	New	MERCK & CO INC	$8,374,000	–	107,680	–	0.91%	–
VMC	New	VULCAN MATERIALS	$7,972,000	–	45,800	–	0.87%	–
CMCSA	New	COMCAST CL A	$7,812,000	–	137,013	–	0.85%	–
BMY	New	BRISTOL-MYERS	$7,174,000	–	107,360	–	0.78%	–
PEP	New	PEPSICO INC	$7,112,000	–	48,000	–	0.77%	–
VZ	New	VERIZON COMM	$7,040,000	–	125,649	–	0.76%	–
WFC	New	WELLS FARGO & CO	$7,011,000	–	154,801	–	0.76%	–
MAR	New	MARRIOTT INTL	$6,826,000	–	50,000	–	0.74%	–
MMM	New	3M COMPANY	$6,773,000	–	34,100	–	0.74%	–
RCL	New	ROYAL CARIBBEAN	$6,613,000	–	77,540	–	0.72%	–
MOS	New	MOSAIC CO	$6,194,000	–	194,102	–	0.67%	–
ADM	New	ARCHR DAN MIDLND	$6,137,000	–	101,277	–	0.67%	–
CVX	New	CHEVRON CORP	$5,860,000	–	55,946	–	0.64%	–
PFE	New	PFIZER INC	$5,705,000	–	145,677	–	0.62%	–
IBM	New	IBM CORPORATION	$5,692,000	–	38,830	–	0.62%	–
MO	New	ALTRIA GROUP INC	$5,561,000	–	116,636	–	0.60%	–
AMZN	New	AMAZON.COM	$5,435,000	–	1,580	–	0.59%	–
WMT	New	WAL-MART STORES	$4,894,000	–	34,704	–	0.53%	–
XLK	New	TECHNOLOGY	$4,569,000	–	30,944	–	0.50%	–
QQQ	New	INVESCO QQQ	$4,482,000	–	12,646	–	0.49%	–
FISV	New	FISERV INC	$3,906,000	–	36,540	–	0.42%	–
AXP	New	AMERICAN EXPRESS	$3,794,000	–	22,960	–	0.41%	–
FCX	New	FREEPORT MCMORAN	$3,533,000	–	95,200	–	0.38%	–
XLI	New	INDUSTRIALS	$2,938,000	–	28,688	–	0.32%	–
WYNN	New	WYNN RESORTS LTD	$2,677,000	–	21,890	–	0.29%	–
WDAY	New	WORKDAY INC	$2,472,000	–	10,355	–	0.27%	–
IBB	New	BIOTECHNOLOGY	$2,439,000	–	14,905	–	0.26%	–
LHX	New	L3HARRIS TECH	$2,380,000	–	11,010	–	0.26%	–
XLV	New	HEALTH CARE	$2,329,000	–	18,492	–	0.25%	–
RTX	New	RAYTHEON	$2,330,000	–	27,313	–	0.25%	–
LITE	New	LUMENTUM HLDG	$2,184,000	–	26,625	–	0.24%	–
GOOGL	New	ALPHABET CLASS A	$2,066,000	–	846	–	0.22%	–
X	New	US STEEL CORP	$2,045,000	–	85,200	–	0.22%	–
FB	New	FACEBOOK, INC.	$2,029,000	–	5,834	–	0.22%	–
PPA	New	INVESCO AEROSP & DEF	$1,796,000	–	23,893	–	0.20%	–
XOM	New	EXXON MOBIL CORP	$1,615,000	–	25,600	–	0.18%	–
COST	New	COSTCO WHOLESALE	$1,563,000	–	3,949	–	0.17%	–
LC	New	LENDINGCLUB CORP	$1,509,000	–	83,250	–	0.16%	–
SONY	New	SONY CORP	$1,415,000	–	14,550	–	0.15%	–
INTC	New	INTEL CORPORATION	$1,333,000	–	23,750	–	0.14%	–
C	New	CITIGROUP INC	$1,300,000	–	18,372	–	0.14%	–
STWD	New	STARWOOD PROP	$1,264,000	–	48,300	–	0.14%	–
XLY	New	CONSUMER DISCR	$1,211,000	–	6,780	–	0.13%	–
SBUX	New	STARBUCKS CORP	$1,109,000	–	9,922	–	0.12%	–
SPG	New	SIMON PPTY GRP INC	$1,086,000	–	8,325	–	0.12%	–
CLX	New	CLOROX COMPANY	$1,079,000	–	6,000	–	0.12%	–
CPT	New	CAMDEN PROPERTY	$1,063,000	–	8,009	–	0.12%	–
EPD	New	ENTERPRISE PRODS	$1,016,000	–	42,100	–	0.11%	–
	New	VANGUARD 500 INDEX	$990,000	–	2,496	–	0.11%	–
USO	New	US OIL	$998,000	–	20,000	–	0.11%	–
GOOG	New	ALPHABET CLASS C	$915,000	–	365	–	0.10%	–
GPS	New	GAP INC	$895,000	–	26,600	–	0.10%	–
XLB	New	MATERIALS	$886,000	–	10,765	–	0.10%	–
AVB	New	AVALONBAY	$873,000	–	4,185	–	0.10%	–
HPQ	New	HP INC.	$773,000	–	25,600	–	0.08%	–
MAC	New	MACERICH CO	$748,000	–	41,000	–	0.08%	–
TSLA	New	TESLA MOTORS	$723,000	–	1,063	–	0.08%	–
GLD	New	SPDR GOLD SHARES	$696,000	–	4,200	–	0.08%	–
JOET	New	VIRTUS TERRANOVA	$681,000	–	23,400	–	0.07%	–
UBER	New	UBER TECHNOLOGIES	$629,000	–	12,550	–	0.07%	–
SHOP	New	SHOPIFY INC	$581,000	–	398	–	0.06%	–
ADBE	New	ADOBE SYSTEMS	$580,000	–	990	–	0.06%	–
DVY	New	SELECT DIVIDEND	$574,000	–	4,918	–	0.06%	–
FFTY	New	INNOVATOR IBD 50	$521,000	–	11,250	–	0.06%	–
DIA	New	SPDR DOW JONES IND	$492,000	–	1,425	–	0.05%	–
	New	ISHARES SIlVER	$484,000	–	20,000	–	0.05%	–
LEN	New	LENNAR CORP	$484,000	–	4,875	–	0.05%	–
IGM	New	EXPANDED TECH	$475,000	–	1,176	–	0.05%	–
CI	New	CIGNA CORP	$474,000	–	2,000	–	0.05%	–
COTY	New	COTY INC	$462,000	–	49,500	–	0.05%	–
DRIV	New	GLOBAL X ELECTRIC VEHICLES	$436,000	–	15,400	–	0.05%	–
PYPL	New	PAYPAL	$387,000	–	1,329	–	0.04%	–
HPE	New	HEWLETT-PACKARD	$373,000	–	25,600	–	0.04%	–
MMP	New	MAGELLAN	$357,000	–	7,300	–	0.04%	–
XLF	New	FINANCIAL	$358,000	–	9,745	–	0.04%	–
XLC	New	COMM SERVICES	$362,000	–	4,466	–	0.04%	–
VTR	New	VENTAS INC.	$343,000	–	6,000	–	0.04%	–
BEN	New	FRANKLIN RES	$345,000	–	10,800	–	0.04%	–
ACC	New	AMERICAN CAMPUS	$327,000	–	7,000	–	0.04%	–
COIN	New	COINBASE GLB	$306,000	–	1,210	–	0.03%	–
LRCX	New	LAM RESEARCH CORP	$299,000	–	460	–	0.03%	–
BABA	New	ALIBABA GROUP	$272,000	–	1,200	–	0.03%	–
SEDG	New	SOLAREDGE TECH	$276,000	–	1,000	–	0.03%	–
LYV	New	LIVE NATION	$274,000	–	3,125	–	0.03%	–
WM	New	WASTE MANAGEMENT	$266,000	–	1,900	–	0.03%	–
NSRGY	New	NESTLE SA	$246,000	–	1,975	–	0.03%	–
TRP	New	TC ENERGY CORP	$248,000	–	5,000	–	0.03%	–
FLO	New	FLOWERS FOODS	$242,000	–	10,000	–	0.03%	–
NAC	New	NVN CA DIV ADV MUNI	$238,000	–	15,000	–	0.03%	–
	New	FIDELITY INTL INDX-INST PRM	$238,000	–	4,805	–	0.03%	–
IWM	New	ISHARES RUSSELL 2000	$229,000	–	1,000	–	0.02%	–
SQ	New	SQUARE INC	$227,000	–	931	–	0.02%	–
CBOBA	New	COMMUNITY BANK OF THE BAY	$219,000	–	30,000	–	0.02%	–
MDLZ	New	MONDELEZ INTL	$219,000	–	3,500	–	0.02%	–
	New	SCHWAB TTL STCK	$218,000	–	2,851	–	0.02%	–
MCD	New	MCDONALDS	$206,000	–	891	–	0.02%	–
BRKB	New	BERKSHIRE HATH.	$202,000	–	726	–	0.02%	–
	New	FIDELITY VALUE FUND	$161,000	–	10,575	–	0.02%	–
ET	New	ENERGY TRANSFER	$136,000	–	12,800	–	0.02%	–
	New	VANGUARD CA INT	$125,000	–	10,198	–	0.01%	–
	New	VANGUARD CA LONG	$132,000	–	10,271	–	0.01%	–
	New	SLANG WORLDWIDE	$21,000	–	100,000	–	0.00%	–
AUSI	New	AURA SYSTEMS	$4,000	–	10,000	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
ET	Exit	ENERGY TRANSFER	$0	–	-12,800	–	-0.01%	–
	Exit	VANGUARD CA INT	$0	–	-10,024	–	-0.02%	–
	Exit	VANGUARD CA LONG	$0	–	-10,024	–	-0.02%	–
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-53,500	–	-0.02%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.02%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-3,500	–	-0.03%	–
XLC	Exit	COMM SERVICES SEL SECT	$0	–	-3,441	–	-0.03%	–
TRP	Exit	TC ENERGY CORP	$0	–	-5,000	–	-0.03%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.03%	–
NAC	Exit	NVN CA DIV ADV MUNI	$0	–	-15,000	–	-0.03%	–
XLF	Exit	FINANCIAL SELECT	$0	–	-9,245	–	-0.03%	–
	Exit	T ROWE PR BL CHIP	$0	–	-1,553	–	-0.03%	–
FLO	Exit	FLOWERS FOODS	$0	–	-10,000	–	-0.03%	–
WDAY	Exit	WORKDAY INC	$0	–	-1,125	–	-0.03%	–
HPE	Exit	HEWLETT-PACKARD	$0	–	-25,600	–	-0.03%	–
SEDG	Exit	SOLAREDGE TECH	$0	–	-1,000	–	-0.03%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-7,000	–	-0.04%	–
MMP	Exit	MAGELLAN	$0	–	-7,300	–	-0.04%	–
PYPL	Exit	PAYPAL	$0	–	-1,275	–	-0.04%	–
VTR	Exit	VENTAS INC.	$0	–	-6,000	–	-0.04%	–
TSLA	Exit	TESLA MOTORS	$0	–	-635	–	-0.04%	–
NSRGY	Exit	NESTLE SA	$0	–	-2,450	–	-0.04%	–
CI	Exit	CIGNA CORP	$0	–	-2,000	–	-0.05%	–
DVY	Exit	ISHARES SELECT DIVIDEND	$0	–	-4,282	–	-0.05%	–
SHOP	Exit	SHOPIFY INC	$0	–	-348	–	-0.05%	–
BABA	Exit	ALIBABA GROUP	$0	–	-1,200	–	-0.05%	–
IGM	Exit	ISHRS NRTH AMERCAN TECH	$0	–	-1,176	–	-0.05%	–
	Exit	ISHARES SIlVER	$0	–	-20,000	–	-0.06%	–
FFTY	Exit	INNOVATOR IBD 50	$0	–	-11,750	–	-0.06%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-900	–	-0.06%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.06%	–
DIA	Exit	SPDR DOW JONES IND	$0	–	-1,620	–	-0.06%	–
UBER	Exit	UBER TECHNOLOGIES	$0	–	-12,800	–	-0.07%	–
HPQ	Exit	HP INC.	$0	–	-25,600	–	-0.07%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-375	–	-0.08%	–
USO	Exit	US OIL	$0	–	-20,000	–	-0.08%	–
AVB	Exit	AVALONBAY	$0	–	-4,185	–	-0.09%	–
XLB	Exit	MATERIALS SLCT SPDR	$0	–	-9,949	–	-0.09%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-42,100	–	-0.09%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-8,084	–	-0.10%	–
ORCL	Exit	ORACLE CORP	$0	–	-12,200	–	-0.10%	–
FORD	Exit	FORD MOTOR CO	$0	–	-109,599	–	-0.10%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-8,537	–	-0.10%	–
GLD	Exit	SPDR GOLD SHARES	$0	–	-4,200	–	-0.10%	–
SONY	Exit	SONY CORP	$0	–	-9,850	–	-0.11%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-25,600	–	-0.12%	–
XLY	Exit	SPDR CONSUMER DISCR	$0	–	-6,010	–	-0.12%	–
FND	Exit	FLOOR & DECOR HLDS	$0	–	-12,150	–	-0.13%	–
CRWD	Exit	CROWDSTRIKE HOLDINGS	$0	–	-6,825	–	-0.13%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-24,623	–	-0.14%	–
C	Exit	CITIGROUP INC	$0	–	-25,076	–	-0.15%	–
	Exit	VANGUARD 500 INDEX	$0	–	-3,483	–	-0.15%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-795	–	-0.16%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-3,360	–	-0.17%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.18%	–
PPA	Exit	INVESCO AEROSP & DEF	$0	–	-24,293	–	-0.19%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-94,700	–	-0.21%	–
TSM	Exit	TAIWAN SEMI ADR	$0	–	-19,175	–	-0.22%	–
RTX	Exit	RAYTHEON	$0	–	-28,906	–	-0.24%	–
LITE	Exit	LUMENTUM HLDG	$0	–	-22,150	–	-0.24%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-72,250	–	-0.24%	–
IBB	Exit	ISHARES BIOTECH	$0	–	-12,680	–	-0.24%	–
XLV	Exit	HEALTH CARE SPDR	$0	–	-16,296	–	-0.24%	–
FB	Exit	FACEBOOK, INC.	$0	–	-6,640	–	-0.25%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-11,150	–	-0.26%	–
FISV	Exit	FISERV INC	$0	–	-19,265	–	-0.28%	–
XLI	Exit	INDSTLS SELECT SPDR	$0	–	-26,958	–	-0.29%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-22,960	–	-0.33%	–
TSN	Exit	TYSON FOODS INC	$0	–	-51,129	–	-0.43%	–
XLK	Exit	SPDR TECHNOLOGY	$0	–	-29,053	–	-0.48%	–
WDC	Exit	WESTERN DIGITAL	$0	–	-93,004	–	-0.48%	–
QQQ	Exit	INVESCO QQQ	$0	–	-13,267	–	-0.52%	–
MU	Exit	MICRON TECHNOLOGY	$0	–	-84,650	–	-0.56%	–
WMT	Exit	WAL-MART STORES	$0	–	-30,029	–	-0.60%	–
AMZN	Exit	AMAZON.COM	$0	–	-1,355	–	-0.60%	–
MAR	Exit	MARRIOTT INTL	$0	–	-50,000	–	-0.66%	–
CVX	Exit	CHEVRON CORP	$0	–	-67,929	–	-0.69%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-132,484	–	-0.73%	–
IBM	Exit	IBM CORPORATION	$0	–	-48,230	–	-0.83%	–
MS	Exit	MORGAN STANLEY	$0	–	-122,150	–	-0.84%	–
INTC	Exit	INTEL CORPORATION	$0	–	-114,314	–	-0.84%	–
AMD	Exit	ADVANCED MICRO DEV	$0	–	-74,700	–	-0.87%	–
STWD	Exit	STARWOOD PROP	$0	–	-408,284	–	-0.87%	–
MMM	Exit	3M COMPANY	$0	–	-38,600	–	-0.88%	–
RCL	Exit	ROYAL CARIBBEAN	$0	–	-99,216	–	-0.91%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-47,500	–	-0.91%	–
PFE	Exit	PFIZER INC	$0	–	-175,927	–	-0.92%	–
BX	Exit	BLACKSTONE	$0	–	-124,750	–	-0.92%	–
LHX	Exit	L3HARRIS TECH	$0	–	-38,650	–	-0.93%	–
CMCSA	Exit	COMCAST CL A	$0	–	-156,800	–	-1.03%	–
ABBV	Exit	ABBVIE INC.	$0	–	-84,840	–	-1.05%	–
VZ	Exit	VERIZON COMM	$0	–	-128,265	–	-1.08%	–
NVS	Exit	NOVARTIS AG	$0	–	-88,896	–	-1.10%	–
PEP	Exit	PEPSICO INC	$0	–	-56,200	–	-1.10%	–
BA	Exit	BOEING	$0	–	-50,650	–	-1.19%	–
CONE	Exit	CYRUSONE INC	$0	–	-126,700	–	-1.26%	–
CRM	Exit	SALESFORCE.COM	$0	–	-35,750	–	-1.27%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-156,903	–	-1.34%	–
T	Exit	AT&T	$0	–	-343,737	–	-1.39%	–
AVGO	Exit	BROADCOM LTD	$0	–	-27,180	–	-1.40%	–
MRK	Exit	MERCK & CO INC	$0	–	-122,851	–	-1.44%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-1.45%	–
DLR	Exit	DIGITAL REALTY TR	$0	–	-70,138	–	-1.46%	–
UNP	Exit	UNION PACIFIC	$0	–	-52,283	–	-1.46%	–
HD	Exit	HOME DEPOT INC	$0	–	-38,072	–	-1.50%	–
CAT	Exit	CATERPILLAR	$0	–	-71,800	–	-1.52%	–
BAC	Exit	BANK OF AMERICA	$0	–	-445,481	–	-1.52%	–
HON	Exit	HONEYWELL INTL	$0	–	-66,437	–	-1.55%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-88,994	–	-1.56%	–
STZ	Exit	CONSTELLATION	$0	–	-60,192	–	-1.62%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-29,928	–	-1.63%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-79,932	–	-1.68%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-114,435	–	-1.69%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-79,926	–	-1.69%	–
AMT	Exit	AMERICAN TOWER	$0	–	-50,067	–	-1.72%	–
RIO	Exit	RIO TINTO	$0	–	-200,421	–	-1.72%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-126,164	–	-1.72%	–
NOW	Exit	SERVICENOW, INC	$0	–	-25,745	–	-1.77%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-115,831	–	-1.79%	–
ATVI	Exit	ACTIVISION	$0	–	-170,445	–	-1.96%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-104,800	–	-2.06%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-280,660	–	-2.36%	–
V	Exit	VISA INC CL A	$0	–	-103,492	–	-2.93%	–
PLD	Exit	PROLOGIS	$0	–	-207,971	–	-2.97%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-163,119	–	-4.86%	–
NVDA	Exit	NVIDIA CORP	$0	–	-67,970	–	-5.21%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,306,350	–	-5.55%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-354,589	–	-5.82%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE COMPUTER	$41,065,000	+23.9%	354,589	+290.1%	5.82%	+21.8%
NVDA	Sell	NVIDIA CORP	$36,787,000	+29.5%	67,970	-9.1%	5.21%	+27.3%
MSFT	Sell	MICROSOFT CORP	$34,309,000	+1.8%	163,119	-1.5%	4.86%	+0.1%
V	Buy	VISA INC CL A	$20,695,000	+6.5%	103,492	+2.9%	2.93%	+4.7%
AMAT	Sell	APPLIED MATERIALS	$16,685,000	-1.7%	280,660	-0.0%	2.36%	-3.4%
ATVI	Buy	ACTIVISION	$13,798,000	+8.6%	170,445	+1.9%	1.96%	+6.8%
ABT	Sell	ABBOTT LABS COM	$12,606,000	+16.6%	115,831	-2.0%	1.79%	+14.7%
NOW	Sell	SERVICENOW, INC	$12,486,000	+19.5%	25,745	-0.2%	1.77%	+17.5%
JPM	Sell	JP MORGAN CHASE	$12,146,000	+0.2%	126,164	-2.1%	1.72%	-1.4%
AMT	Buy	AMERICAN TOWER	$12,103,000	-4.5%	50,067	+2.2%	1.72%	-6.1%
RIO	Sell	RIO TINTO	$12,103,000	+7.1%	200,421	-0.3%	1.72%	+5.3%
JNJ	Sell	JOHN. & JOHN.	$11,899,000	+5.2%	79,926	-0.6%	1.69%	+3.4%
MDT	Buy	MEDTRONIC PLC	$11,892,000	+49.2%	114,435	+31.6%	1.69%	+46.7%
LMT	Buy	LOCKHEED MARTIN	$11,471,000	+5.1%	29,928	+0.1%	1.63%	+3.4%
STZ	Sell	CONSTELLATION	$11,407,000	+7.8%	60,192	-0.5%	1.62%	+6.0%
DIS	Buy	DISNEY, WALT CO	$11,042,000	+11.8%	88,994	+0.5%	1.56%	+9.9%
HON	Sell	HONEYWELL INTL	$10,936,000	+11.0%	66,437	-2.5%	1.55%	+9.1%
BAC	Sell	BANK OF AMERICA	$10,732,000	+0.6%	445,481	-0.8%	1.52%	-1.1%
CAT	Buy	CATERPILLAR	$10,709,000	+18.0%	71,800	+0.1%	1.52%	+16.1%
HD	Sell	HOME DEPOT INC	$10,573,000	+10.6%	38,072	-0.3%	1.50%	+8.7%
UNP	Sell	UNION PACIFIC	$10,293,000	+16.2%	52,283	-0.2%	1.46%	+14.3%
MRK	Sell	MERCK & CO INC	$10,190,000	+6.8%	122,851	-0.5%	1.44%	+4.9%
AVGO	Buy	BROADCOM LTD	$9,902,000	+26.0%	27,180	+9.1%	1.40%	+23.8%
T	Sell	AT&T	$9,800,000	-6.7%	343,737	-1.0%	1.39%	-8.3%
BMY	Buy	BRISTOL-MYERS	$9,460,000	+4.2%	156,903	+1.6%	1.34%	+2.4%
CRM	Sell	SALESFORCE.COM	$8,985,000	+25.2%	35,750	-6.7%	1.27%	+23.1%
CONE	Sell	CYRUSONE INC	$8,873,000	-4.4%	126,700	-0.7%	1.26%	-6.0%
BA	Buy	BOEING	$8,370,000	-9.4%	50,650	+0.5%	1.19%	-10.9%
NVS	Buy	NOVARTIS AG	$7,730,000	-0.1%	88,896	+0.4%	1.10%	-1.7%
VZ	Sell	VERIZON COMM	$7,630,000	+6.0%	128,265	-1.8%	1.08%	+4.1%
ABBV	Buy	ABBVIE INC.	$7,431,000	-3.0%	84,840	+8.7%	1.05%	-4.7%
LHX	Sell	L3HARRIS TECH	$6,564,000	-2.3%	38,650	-2.4%	0.93%	-4.0%
BX	Sell	BLACKSTONE	$6,512,000	-10.4%	124,750	-2.7%	0.92%	-11.8%
PFE	Buy	PFIZER INC	$6,457,000	+14.9%	175,927	+2.4%	0.92%	+13.0%
VMC	Buy	VULCAN MATERIALS	$6,438,000	+19.5%	47,500	+2.2%	0.91%	+17.5%
RCL	Sell	ROYAL CARIBBEAN	$6,422,000	-3.1%	99,216	-24.7%	0.91%	-4.7%
STWD	Buy	STARWOOD PROP	$6,161,000	+1.8%	408,284	+0.9%	0.87%	0.0%
AMD	Sell	ADVANCED MICRO DEV	$6,125,000	-38.9%	74,700	-60.8%	0.87%	-40.0%
INTC	Sell	INTEL CORPORATION	$5,919,000	-14.1%	114,314	-0.7%	0.84%	-15.5%
MS	Sell	MORGAN STANLEY	$5,906,000	-0.5%	122,150	-0.6%	0.84%	-2.1%
MO	Sell	ALTRIA GROUP INC	$5,119,000	-3.0%	132,484	-1.4%	0.73%	-4.6%
CVX	Buy	CHEVRON CORP	$4,891,000	-17.8%	67,929	+1.9%	0.69%	-19.2%
AMZN	Sell	AMAZON.COM	$4,267,000	+13.3%	1,355	-0.7%	0.60%	+11.4%
MU	Buy	MICRON TECHNOLOGY	$3,975,000	+15.1%	84,650	+26.3%	0.56%	+13.1%
QQQ	Sell	INVESCO QQQ	$3,686,000	+9.2%	13,267	-2.7%	0.52%	+7.2%
WDC	Sell	WESTERN DIGITAL	$3,399,000	-68.8%	93,004	-62.3%	0.48%	-69.3%
XLK	Sell	SPDR TECHNOLOGY	$3,391,000	+8.5%	29,053	-2.9%	0.48%	+6.7%
TSN	Sell	TYSON FOODS INC	$3,041,000	-63.4%	51,129	-63.3%	0.43%	-64.0%
AXP	Sell	AMERICAN EXPRESS	$2,302,000	+4.9%	22,960	-0.4%	0.33%	+3.2%
XLI	Sell	INDSTLS SELECT SPDR	$2,075,000	+6.6%	26,958	-4.8%	0.29%	+4.6%
FISV	New	FISERV INC	$1,985,000	–	19,265	–	0.28%	–
CCI	Buy	CROWN CASTLE INT'L	$1,856,000	+16.1%	11,150	+16.8%	0.26%	+14.3%
XLV	Sell	HEALTH CARE SPDR	$1,719,000	+5.0%	16,296	-0.4%	0.24%	+3.4%
IBB	New	ISHARES BIOTECH	$1,717,000	–	12,680	–	0.24%	–
WFC	Buy	WELLS FARGO & CO	$1,699,000	-7.4%	72,250	+0.8%	0.24%	-8.7%
RTX	Sell	RAYTHEON	$1,663,000	-83.7%	28,906	-82.5%	0.24%	-83.9%
LITE	Sell	LUMENTUM HLDG	$1,664,000	-21.7%	22,150	-15.1%	0.24%	-22.9%
TSM	Buy	TAIWAN SEMI ADR	$1,555,000	+88.9%	19,175	+32.2%	0.22%	+84.9%
FCX	Sell	FREEPORT MCMORAN	$1,481,000	-37.2%	94,700	-53.5%	0.21%	-38.2%
PPA	Sell	INVESCO AEROSP & DEF	$1,354,000	-12.4%	24,293	-12.9%	0.19%	-13.9%
COST	Sell	COSTCO WHOLESALE	$1,193,000	+15.7%	3,360	-1.2%	0.17%	+13.4%
GOOGL	Buy	ALPHABET CLASS A	$1,165,000	+18.2%	795	+14.4%	0.16%	+16.2%
C	Sell	CITIGROUP INC	$1,081,000	-88.4%	25,076	-86.2%	0.15%	-88.6%
	Sell	VANGUARD 500 INDEX	$1,081,000	-2.5%	3,483	-10.2%	0.15%	-4.4%
CSCO	Sell	CISCO SYSTEMS INC	$970,000	-61.7%	24,623	-54.7%	0.14%	-62.5%
CRWD	Buy	CROWDSTRIKE HOLDINGS	$937,000	+126.3%	6,825	+65.5%	0.13%	+121.7%
FND	Sell	FLOOR & DECOR HLDS	$909,000	+28.8%	12,150	-0.8%	0.13%	+26.5%
XLY	Buy	SPDR CONSUMER DISCR	$883,000	+16.5%	6,010	+1.3%	0.12%	+14.7%
SONY	Buy	SONY CORP	$756,000	+58.5%	9,850	+42.9%	0.11%	+55.1%
SBUX	Buy	STARBUCKS CORP	$733,000	+202.9%	8,537	+159.7%	0.10%	+197.1%
FORD	Sell	FORD MOTOR CO	$730,000	-9.8%	109,599	-17.7%	0.10%	-12.0%
XLB	Sell	MATERIALS SLCT SPDR	$633,000	+8.2%	9,949	-4.2%	0.09%	+7.1%
UBER	Buy	UBER TECHNOLOGIES	$467,000	+127.8%	12,800	+93.9%	0.07%	+120.0%
DIA	Sell	SPDR DOW JONES IND	$449,000	+4.2%	1,620	-3.1%	0.06%	+3.2%
ADBE	Sell	ADOBE SYSTEMS	$442,000	+1.6%	900	-10.0%	0.06%	0.0%
FFTY	Sell	INNOVATOR IBD 50	$438,000	-28.3%	11,750	-33.8%	0.06%	-29.5%
DVY	Buy	ISHARES SELECT DIVIDEND	$349,000	+12.2%	4,282	+11.2%	0.05%	+8.9%
NSRGY	Sell	NESTLE SA	$292,000	+3.5%	2,450	-3.9%	0.04%	0.0%
TSLA	New	TESLA MOTORS	$272,000	–	635	–	0.04%	–
WDAY	New	WORKDAY INC	$242,000	–	1,125	–	0.03%	–
SEDG	New	SOLAREDGE TECH	$238,000	–	1,000	–	0.03%	–
XLF	Sell	FINANCIAL SELECT	$223,000	-30.1%	9,245	-32.9%	0.03%	-30.4%
XLC	New	COMM SERVICES SEL SECT	$204,000	–	3,441	–	0.03%	–
MDLZ	Sell	MONDELEZ INTL	$201,000	-4.3%	3,500	-14.6%	0.03%	-6.7%
	Sell	VANGUARD CA LONG	$128,000	-11.7%	10,024	-12.4%	0.02%	-14.3%
	Sell	VANGUARD CA INT	$123,000	-28.9%	10,024	-29.1%	0.02%	-32.0%
GE	Exit	GENERAL ELECTRIC	$0	–	-16,000	–	-0.02%	–
TEAM	Exit	ATLASSIAN CORP	$0	–	-1,200	–	-0.03%	–
	Exit	REGENCY CENTERS	$0	–	-5,250	–	-0.04%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-4,600	–	-0.04%	–
DXCM	Exit	DEXCOM INC	$0	–	-1,000	–	-0.06%	–
FSLR	Exit	FIRST SOLAR	$0	–	-9,350	–	-0.07%	–
MTCH	Exit	MATCH GROUP INC	$0	–	-5,150	–	-0.08%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-21,900	–	-0.27%	–

Q2 2020

			Value		Shares		↓ Weighting
QUOT	New	QUOTIENT TECH.	$38,842,000	–	5,306,350	–	5.60%	–
MSFT	New	MICROSOFT CORP	$33,715,000	–	165,667	–	4.86%	–
AAPL	New	APPLE COMPUTER	$33,157,000	–	90,891	–	4.78%	–
NVDA	New	NVIDIA CORP	$28,415,000	–	74,795	–	4.10%	–
V	New	VISA INC CL A	$19,431,000	–	100,591	–	2.80%	–
PLD	New	PROLOGIS	$19,410,000	–	207,971	–	2.80%	–
AMAT	New	APPLIED MATERIALS	$16,972,000	–	280,760	–	2.45%	–
LLY	New	LILLY, ELI & CO	$13,123,000	–	79,932	–	1.89%	–
ATVI	New	ACTIVISION	$12,700,000	–	167,320	–	1.83%	–
AMT	New	AMERICAN TOWER	$12,668,000	–	48,997	–	1.83%	–
PG	New	PROCTER & GAMBLE	$12,531,000	–	104,800	–	1.81%	–
JPM	New	JP MORGAN CHASE	$12,121,000	–	128,861	–	1.75%	–
JNJ	New	JOHN. & JOHN.	$11,313,000	–	80,447	–	1.63%	–
RIO	New	RIO TINTO	$11,297,000	–	201,090	–	1.63%	–
LMT	New	LOCKHEED MARTIN	$10,912,000	–	29,903	–	1.57%	–
WDC	New	WESTERN DIGITAL	$10,888,000	–	246,621	–	1.57%	–
ABT	New	ABBOTT LABS COM	$10,808,000	–	118,206	–	1.56%	–
BAC	New	BANK OF AMERICA	$10,667,000	–	449,131	–	1.54%	–
STZ	New	CONSTELLATION	$10,586,000	–	60,507	–	1.53%	–
T	New	AT&T	$10,500,000	–	347,322	–	1.51%	–
NOW	New	SERVICENOW, INC	$10,449,000	–	25,795	–	1.51%	–
RTX	New	RAYTHEON TECHNOLOGIES	$10,189,000	–	165,348	–	1.47%	–
AMD	New	ADVANCED MICRO DEV	$10,029,000	–	190,625	–	1.45%	–
DLR	New	DIGITAL REALTY TR	$9,967,000	–	70,138	–	1.44%	–
FRC	New	FIRST REPUBLIC	$9,963,000	–	94,000	–	1.44%	–
DIS	New	DISNEY, WALT CO	$9,879,000	–	88,589	–	1.42%	–
HON	New	HONEYWELL INTL	$9,855,000	–	68,161	–	1.42%	–
HD	New	HOME DEPOT INC	$9,563,000	–	38,172	–	1.38%	–
MRK	New	MERCK & CO INC	$9,544,000	–	123,415	–	1.38%	–
C	New	CITIGROUP INC	$9,291,000	–	181,821	–	1.34%	–
CONE	New	CYRUSONE INC	$9,283,000	–	127,600	–	1.34%	–
BA	New	BOEING	$9,235,000	–	50,380	–	1.33%	–
BMY	New	BRISTOL-MYERS	$9,083,000	–	154,477	–	1.31%	–
CAT	New	CATERPILLAR	$9,076,000	–	71,750	–	1.31%	–
UNP	New	UNION PACIFIC	$8,856,000	–	52,383	–	1.28%	–
TSN	New	TYSON FOODS INC	$8,311,000	–	139,193	–	1.20%	–
MDT	New	MEDTRONIC PLC	$7,973,000	–	86,945	–	1.15%	–
AVGO	New	BROADCOM LTD	$7,860,000	–	24,905	–	1.13%	–
NVS	New	NOVARTIS AG	$7,736,000	–	88,571	–	1.12%	–
ABBV	New	ABBVIE INC.	$7,663,000	–	78,050	–	1.10%	–
PEP	New	PEPSICO INC	$7,433,000	–	56,200	–	1.07%	–
BX	New	BLACKSTONE	$7,264,000	–	128,200	–	1.05%	–
VZ	New	VERIZON COMM	$7,198,000	–	130,562	–	1.04%	–
CRM	New	SALESFORCE.COM	$7,179,000	–	38,325	–	1.04%	–
INTC	New	INTEL CORPORATION	$6,887,000	–	115,114	–	0.99%	–
LHX	New	L3HARRIS TECHNOLOGIES	$6,719,000	–	39,600	–	0.97%	–
RCL	New	ROYAL CARIBBEAN	$6,626,000	–	131,726	–	0.96%	–
CMCSA	New	COMCAST CL A	$6,112,000	–	156,800	–	0.88%	–
STWD	New	STARWOOD PROP	$6,055,000	–	404,713	–	0.87%	–
MMM	New	3M COMPANY	$6,021,000	–	38,600	–	0.87%	–
CVX	New	CHEVRON CORP	$5,950,000	–	66,679	–	0.86%	–
MS	New	MORGAN STANLEY	$5,934,000	–	122,850	–	0.86%	–
IBM	New	IBM CORPORATION	$5,825,000	–	48,230	–	0.84%	–
PFE	New	PFIZER INC	$5,620,000	–	171,877	–	0.81%	–
VMC	New	VULCAN MATERIALS	$5,387,000	–	46,500	–	0.78%	–
MO	New	ALTRIA GROUP INC	$5,276,000	–	134,417	–	0.76%	–
MAR	New	MARRIOTT INTL	$4,286,000	–	50,000	–	0.62%	–
AMZN	New	AMAZON.COM	$3,766,000	–	1,365	–	0.54%	–
WMT	New	WAL-MART STORES	$3,597,000	–	30,029	–	0.52%	–
MU	New	MICRON TECHNOLOGY	$3,453,000	–	67,025	–	0.50%	–
QQQ	New	INVESCO QQQ	$3,375,000	–	13,631	–	0.49%	–
XLK	New	SPDR TECHNOLOGY	$3,126,000	–	29,913	–	0.45%	–
CSCO	New	CISCO SYSTEMS INC	$2,533,000	–	54,305	–	0.36%	–
FCX	New	FREEPORT MCMORAN	$2,357,000	–	203,725	–	0.34%	–
AXP	New	AMERICAN EXPRESS	$2,195,000	–	23,060	–	0.32%	–
LITE	New	LUMENTUM HLDG	$2,125,000	–	26,100	–	0.31%	–
XLI	New	INDSTLS SELECT SPDR	$1,946,000	–	28,332	–	0.28%	–
EXAS	New	EXACT SCIENCES CORP	$1,904,000	–	21,900	–	0.27%	–
WFC	New	WELLS FARGO & CO	$1,834,000	–	71,650	–	0.26%	–
XLV	New	HEALTH CARE SPDR	$1,637,000	–	16,360	–	0.24%	–
CCI	New	CROWN CASTLE INT'L	$1,598,000	–	9,548	–	0.23%	–
PPA	New	INVESCO AEROSP & DEF	$1,545,000	–	27,893	–	0.22%	–
FB	New	FACEBOOK, INC.	$1,508,000	–	6,640	–	0.22%	–
CLX	New	CLOROX COMPANY	$1,316,000	–	6,000	–	0.19%	–
XOM	New	EXXON MOBIL CORP	$1,145,000	–	25,600	–	0.16%	–
	New	VANGUARD 500 INDEX	$1,109,000	–	3,878	–	0.16%	–
COST	New	COSTCO WHOLESALE	$1,031,000	–	3,400	–	0.15%	–
GOOGL	New	ALPHABET CLASS A	$986,000	–	695	–	0.14%	–
TSM	New	TAIWAN SEMI ADR	$823,000	–	14,500	–	0.12%	–
FORD	New	FORD MOTOR CO	$809,000	–	133,099	–	0.12%	–
EPD	New	ENTERPRISE PRODS	$765,000	–	42,100	–	0.11%	–
XLY	New	SPDR CONSUMER DISCR	$758,000	–	5,935	–	0.11%	–
CPT	New	CAMDEN PROPERTY	$737,000	–	8,084	–	0.11%	–
FND	New	FLOOR & DECOR HLDS	$706,000	–	12,250	–	0.10%	–
GLD	New	SPDR GOLD SHARES	$703,000	–	4,200	–	0.10%	–
ORCL	New	ORACLE CORP	$674,000	–	12,200	–	0.10%	–
AVB	New	AVALONBAY	$647,000	–	4,185	–	0.09%	–
FFTY	New	INNOVATOR IBD 50	$611,000	–	17,750	–	0.09%	–
XLB	New	MATERIALS SLCT SPDR	$585,000	–	10,387	–	0.08%	–
USO	New	US OIL	$561,000	–	20,000	–	0.08%	–
MTCH	New	MATCH GROUP INC	$551,000	–	5,150	–	0.08%	–
GOOG	New	ALPHABET CLASS C	$530,000	–	375	–	0.08%	–
SONY	New	SONY CORP	$477,000	–	6,895	–	0.07%	–
FSLR	New	FIRST SOLAR	$463,000	–	9,350	–	0.07%	–
HPQ	New	HP INC.	$446,000	–	25,600	–	0.06%	–
ADBE	New	ADOBE SYSTEMS	$435,000	–	1,000	–	0.06%	–
DIA	New	SPDR DOW JONES IND	$431,000	–	1,671	–	0.06%	–
CRWD	New	CROWDSTRIKE HOLDINGS	$414,000	–	4,125	–	0.06%	–
DXCM	New	DEXCOM INC	$405,000	–	1,000	–	0.06%	–
CI	New	CIGNA CORP	$375,000	–	2,000	–	0.05%	–
	New	ISHARES SIlVER	$340,000	–	20,000	–	0.05%	–
SHOP	New	SHOPIFY INC	$330,000	–	348	–	0.05%	–
GPS	New	GAP INC	$336,000	–	26,600	–	0.05%	–
IGM	New	ISHRS NRTH AMERCAN TECH	$328,000	–	1,176	–	0.05%	–
XLF	New	FINANCIAL SELECT	$319,000	–	13,775	–	0.05%	–
MMP	New	MAGELLAN	$315,000	–	7,300	–	0.04%	–
DVY	New	ISHARES SELECT DIVIDEND	$311,000	–	3,852	–	0.04%	–
SPG	New	SIMON PPTY GRP INC	$315,000	–	4,600	–	0.04%	–
NSRGY	New	NESTLE SA	$282,000	–	2,550	–	0.04%	–
BABA	New	ALIBABA GROUP	$259,000	–	1,200	–	0.04%	–
HPE	New	HEWLETT-PACKARD	$249,000	–	25,600	–	0.04%	–
ACC	New	AMERICAN CAMPUS	$245,000	–	7,000	–	0.04%	–
	New	REGENCY CENTERS	$241,000	–	5,250	–	0.04%	–
SBUX	New	STARBUCKS CORP	$242,000	–	3,287	–	0.04%	–
BEN	New	FRANKLIN RES	$226,000	–	10,800	–	0.03%	–
VTR	New	VENTAS INC.	$220,000	–	6,000	–	0.03%	–
FLO	New	FLOWERS FOODS	$224,000	–	10,000	–	0.03%	–
PYPL	New	PAYPAL	$222,000	–	1,275	–	0.03%	–
NAC	New	NVN CA DIV ADV MUNI	$214,000	–	15,000	–	0.03%	–
	New	T ROWE PR BL CHIP	$214,000	–	1,553	–	0.03%	–
TEAM	New	ATLASSIAN CORP	$216,000	–	1,200	–	0.03%	–
TRP	New	TC ENERGY CORP	$214,000	–	5,000	–	0.03%	–
UBER	New	UBER TECHNOLOGIES	$205,000	–	6,600	–	0.03%	–
MDLZ	New	MONDELEZ INTL	$210,000	–	4,100	–	0.03%	–
	New	VANGUARD CA INT	$173,000	–	14,146	–	0.02%	–
	New	COMM BK BAY OAKLAND CA	$153,000	–	30,000	–	0.02%	–
	New	VANGUARD CA LONG	$145,000	–	11,441	–	0.02%	–
CLNE	New	CLEAN ENRGY FUEL	$119,000	–	53,500	–	0.02%	–
GE	New	GENERAL ELECTRIC	$109,000	–	16,000	–	0.02%	–
ET	New	ENERGY TRANSFER	$91,000	–	12,800	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-23,500	–	-0.01%	–
	Exit	VANGUARD CA LONG	$0	–	-11,210	–	-0.02%	–
	Exit	VANGUARD CA INT	$0	–	-13,903	–	-0.02%	–
ET	Exit	ENERGY TRANSFER	$0	–	-12,900	–	-0.02%	–
BABA	Exit	ALIBABA GROUP	$0	–	-1,200	–	-0.03%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.03%	–
HEP	Exit	HOLLY ENERGY	$0	–	-8,600	–	-0.03%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-4,100	–	-0.03%	–
FLO	Exit	FLOWERS FOODS	$0	–	-10,000	–	-0.04%	–
CME	Exit	CME GROUP INC	$0	–	-1,100	–	-0.04%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-4,100	–	-0.04%	–
TRP	Exit	TC ENERGY CORP	$0	–	-5,000	–	-0.04%	–
FSLR	Exit	FIRST SOLAR	$0	–	-4,675	–	-0.04%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-1,000	–	-0.04%	–
TTWO	Exit	TAKE-TWO INTERACTVE	$0	–	-2,225	–	-0.04%	–
NRZ	Exit	NEW RESIDENTIAL INVEST	$0	–	-18,700	–	-0.04%	–
CI	Exit	CIGNA CORP	$0	–	-2,000	–	-0.05%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.05%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-7,000	–	-0.05%	–
	Exit	REGENCY CENTERS	$0	–	-5,250	–	-0.06%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-21,125	–	-0.06%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-2,450	–	-0.06%	–
NSRGY	Exit	NESTLE SA	$0	–	-3,525	–	-0.06%	–
HPE	Exit	HEWLETT-PACKARD	$0	–	-25,600	–	-0.06%	–
VTR	Exit	VENTAS INC.	$0	–	-6,000	–	-0.07%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.07%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-5,500	–	-0.07%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-395	–	-0.07%	–
HPQ	Exit	HP INC.	$0	–	-25,600	–	-0.07%	–
FB	Exit	FACEBOOK, INC.	$0	–	-2,850	–	-0.08%	–
MMP	Exit	MAGELLAN	$0	–	-7,600	–	-0.08%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-6,575	–	-0.09%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-4,060	–	-0.10%	–
ATVI	Exit	ACTIVISION	$0	–	-12,750	–	-0.10%	–
ORCL	Exit	ORACLE CORP	$0	–	-12,200	–	-0.10%	–
ALC	Exit	ALCON INC	$0	–	-11,729	–	-0.10%	–
LITE	Exit	LUMENTUM HLDG	$0	–	-14,600	–	-0.12%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-2,885	–	-0.12%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-700	–	-0.13%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-8,084	–	-0.13%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.14%	–
WDAY	Exit	WORKDAY INC	$0	–	-5,375	–	-0.14%	–
AVB	Exit	AVALONBAY	$0	–	-4,285	–	-0.14%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-4,025	–	-0.14%	–
RUN	Exit	SUNRUN INC	$0	–	-58,125	–	-0.15%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-24,100	–	-0.15%	–
CNK	Exit	CINEMARK HLDGS	$0	–	-30,755	–	-0.18%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-42,100	–	-0.18%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-9,018	–	-0.19%	–
CIEN	Exit	CIENA CORP	$0	–	-31,900	–	-0.19%	–
	Exit	VANGUARD 500 INDEX	$0	–	-4,661	–	-0.19%	–
AMZN	Exit	AMAZON.COM	$0	–	-850	–	-0.22%	–
AMC	Exit	AMC ENTERTAINMENT	$0	–	-156,575	–	-0.25%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-193,200	–	-0.28%	–
MU	Exit	MICRON TECHNOLOGY	$0	–	-44,925	–	-0.29%	–
LHX	Exit	L3HARRIS TECHNOLOGIES	$0	–	-10,200	–	-0.32%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-32,600	–	-0.34%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-23,050	–	-0.41%	–
DOW	Exit	DOW CHEMICAL	$0	–	-63,470	–	-0.45%	–
WMT	Exit	WAL-MART STORES	$0	–	-30,310	–	-0.54%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-72,050	–	-0.54%	–
AMD	Exit	ADVANCED MICRO DEV	$0	–	-127,275	–	-0.55%	–
BX	Exit	BLACKSTONE	$0	–	-80,000	–	-0.59%	–
DD	Exit	DUPONT de NEMOURS	$0	–	-55,600	–	-0.59%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-446,000	–	-0.60%	–
NUE	Exit	NUCOR CORP	$0	–	-78,550	–	-0.60%	–
UTX	Exit	UNITED TECH	$0	–	-35,000	–	-0.72%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-117,722	–	-0.72%	–
MS	Exit	MORGAN STANLEY	$0	–	-125,550	–	-0.80%	–
INTC	Exit	INTEL CORPORATION	$0	–	-105,350	–	-0.81%	–
ABBV	Exit	ABBVIE INC.	$0	–	-76,900	–	-0.87%	–
MAR	Exit	MARRIOTT INTL	$0	–	-50,000	–	-0.93%	–
MMM	Exit	3M COMPANY	$0	–	-38,600	–	-0.95%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-131,898	–	-0.98%	–
NVS	Exit	NOVARTIS AG	$0	–	-76,431	–	-1.00%	–
NOW	Exit	SERVICENOW, INC	$0	–	-26,270	–	-1.00%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-133,565	–	-1.02%	–
CMCSA	Exit	COMCAST CL A	$0	–	-155,600	–	-1.05%	–
PEP	Exit	PEPSICO INC	$0	–	-53,200	–	-1.09%	–
AVGO	Exit	BROADCOM LTD	$0	–	-27,020	–	-1.12%	–
PFE	Exit	PFIZER INC	$0	–	-210,118	–	-1.13%	–
CRM	Exit	SALESFORCE.COM	$0	–	-52,305	–	-1.16%	–
STWD	Exit	STARWOOD PROP	$0	–	-321,042	–	-1.17%	–
VZ	Exit	VERIZON COMM	$0	–	-131,230	–	-1.19%	–
SQ	Exit	SQUARE INC	$0	–	-133,060	–	-1.24%	–
FORD	Exit	FORD MOTOR CO	$0	–	-926,606	–	-1.27%	–
RIO	Exit	RIO TINTO	$0	–	-163,603	–	-1.28%	–
UNP	Exit	UNION PACIFIC	$0	–	-53,383	–	-1.30%	–
CVX	Exit	CHEVRON CORP	$0	–	-74,920	–	-1.33%	–
HD	Exit	HOME DEPOT INC	$0	–	-38,358	–	-1.33%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-79,925	–	-1.34%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-69,151	–	-1.34%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-1.36%	–
DLR	Exit	DIGITAL REALTY TR	$0	–	-72,910	–	-1.42%	–
RCL	Exit	ROYAL CARIBBEAN	$0	–	-89,155	–	-1.45%	–
CONE	Exit	CYRUSONE INC	$0	–	-125,590	–	-1.49%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-122,261	–	-1.53%	–
RTN	Exit	RAYTHEON	$0	–	-52,307	–	-1.54%	–
MRK	Exit	MERCK & CO INC	$0	–	-122,961	–	-1.55%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-81,897	–	-1.60%	–
AMT	Exit	AMERICAN TOWER	$0	–	-48,395	–	-1.60%	–
CAT	Exit	CATERPILLAR	$0	–	-84,765	–	-1.60%	–
STZ	Exit	CONSTELLATION	$0	–	-54,025	–	-1.68%	–
T	Exit	AT&T	$0	–	-315,632	–	-1.79%	–
HON	Exit	HONEYWELL INTL	$0	–	-70,678	–	-1.79%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-31,015	–	-1.81%	–
IBM	Exit	IBM CORPORATION	$0	–	-86,395	–	-1.88%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-106,500	–	-1.99%	–
BAC	Exit	BANK OF AMERICA	$0	–	-461,155	–	-2.02%	–
C	Exit	CITIGROUP INC	$0	–	-195,284	–	-2.02%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-281,300	–	-2.10%	–
WDC	Exit	WESTERN DIGITAL	$0	–	-240,004	–	-2.15%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-134,126	–	-2.37%	–
NVDA	Exit	NVIDIA CORP	$0	–	-100,865	–	-2.63%	–
PLD	Exit	PROLOGIS	$0	–	-207,971	–	-2.66%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-89,705	–	-3.01%	–
BA	Exit	BOEING	$0	–	-53,488	–	-3.05%	–
V	Exit	VISA INC CL A	$0	–	-122,835	–	-3.17%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-170,924	–	-3.56%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,329,350	–	-6.25%	–

Q3 2019

			Value		Shares		↓ Weighting
QUOT	Sell	QUOTIENT TECH.	$41,676,000	-27.2%	5,329,350	-0.1%	6.25%	-26.1%
MSFT	Sell	MICROSOFT CORP	$23,764,000	-4.9%	170,924	-8.4%	3.56%	-3.4%
V	Buy	VISA INC CL A	$21,129,000	-0.8%	122,835	+0.1%	3.17%	+0.7%
BA	Sell	BOEING	$20,351,000	+2.8%	53,488	-1.7%	3.05%	+4.4%
AAPL	Sell	APPLE COMPUTER	$20,091,000	+11.3%	89,705	-1.6%	3.01%	+13.1%
PLD	Buy	PROLOGIS	$17,723,000	+6.5%	207,971	+0.1%	2.66%	+8.1%
NVDA	Buy	NVIDIA CORP	$17,558,000	+7.4%	100,865	+1.3%	2.63%	+9.0%
JPM	Sell	JP MORGAN CHASE	$15,785,000	+3.9%	134,126	-1.3%	2.37%	+5.5%
WDC	Buy	WESTERN DIGITAL	$14,314,000	+26.9%	240,004	+1.2%	2.15%	+28.9%
AMAT	Sell	APPLIED MATERIALS	$14,037,000	+3.7%	281,300	-6.7%	2.10%	+5.3%
C	Sell	CITIGROUP INC	$13,490,000	-2.4%	195,284	-1.1%	2.02%	-0.9%
BAC	Sell	BANK OF AMERICA	$13,452,000	-5.6%	461,155	-6.1%	2.02%	-4.1%
IBM	Sell	IBM CORPORATION	$12,564,000	+5.3%	86,395	-0.2%	1.88%	+6.9%
LMT	Buy	LOCKHEED MARTIN	$12,098,000	+7.6%	31,015	+0.3%	1.81%	+9.3%
HON	Sell	HONEYWELL INTL	$11,959,000	-4.6%	70,678	-1.5%	1.79%	-3.0%
T	Buy	AT&T	$11,944,000	+15.5%	315,632	+2.3%	1.79%	+17.3%
STZ	Buy	CONSTELLATION	$11,198,000	+7.4%	54,025	+2.0%	1.68%	+9.1%
CAT	Buy	CATERPILLAR	$10,707,000	+14.2%	84,765	+23.3%	1.60%	+16.1%
DIS	Buy	DISNEY, WALT CO	$10,673,000	+1.8%	81,897	+9.1%	1.60%	+3.4%
MRK	Buy	MERCK & CO INC	$10,351,000	+0.4%	122,961	+0.0%	1.55%	+2.0%
RTN	Buy	RAYTHEON	$10,262,000	+14.2%	52,307	+1.2%	1.54%	+16.0%
ABT	Sell	ABBOTT LABS COM	$10,230,000	-1.5%	122,261	-1.0%	1.53%	0.0%
CONE	Sell	CYRUSONE INC	$9,934,000	+36.0%	125,590	-0.7%	1.49%	+38.1%
RCL	New	ROYAL CARIBBEAN	$9,658,000	–	89,155	–	1.45%	–
DLR	Sell	DIGITAL REALTY TR	$9,464,000	+7.9%	72,910	-2.1%	1.42%	+9.6%
JNJ	Sell	JOHN. & JOHN.	$8,947,000	-7.3%	69,151	-0.2%	1.34%	-5.8%
LLY	Buy	LILLY, ELI & CO	$8,938,000	+1.1%	79,925	+0.2%	1.34%	+2.7%
HD	Sell	HOME DEPOT INC	$8,900,000	+11.3%	38,358	-0.3%	1.33%	+13.0%
CVX	Sell	CHEVRON CORP	$8,885,000	-6.3%	74,920	-1.7%	1.33%	-4.9%
RIO	Sell	RIO TINTO	$8,522,000	-16.6%	163,603	-0.2%	1.28%	-15.3%
FORD	Buy	FORD MOTOR CO	$8,488,000	-5.8%	926,606	+5.1%	1.27%	-4.4%
SQ	Buy	SQUARE INC	$8,243,000	+3960.6%	133,060	+4652.1%	1.24%	+4020.0%
VZ	Sell	VERIZON COMM	$7,921,000	+5.6%	131,230	-0.1%	1.19%	+7.2%
STWD	Buy	STARWOOD PROP	$7,776,000	+7.2%	321,042	+0.5%	1.17%	+8.9%
CRM	Sell	SALESFORCE.COM	$7,764,000	-8.2%	52,305	-6.1%	1.16%	-6.7%
PFE	Sell	PFIZER INC	$7,550,000	-21.6%	210,118	-5.5%	1.13%	-20.3%
AVGO	Buy	BROADCOM LTD	$7,459,000	+44.9%	27,020	+51.1%	1.12%	+47.1%
BMY	Buy	BRISTOL-MYERS	$6,773,000	+21.2%	133,565	+8.4%	1.02%	+23.0%
NVS	Buy	NOVARTIS AG	$6,642,000	+1.1%	76,431	+6.2%	1.00%	+2.7%
CSCO	Buy	CISCO SYSTEMS INC	$6,517,000	-9.4%	131,898	+0.4%	0.98%	-7.9%
MAR	Sell	MARRIOTT INTL	$6,218,000	-12.4%	50,000	-1.2%	0.93%	-11.1%
ABBV	Sell	ABBVIE INC.	$5,823,000	+3.7%	76,900	-0.4%	0.87%	+5.3%
MS	Sell	MORGAN STANLEY	$5,357,000	-3.6%	125,550	-1.0%	0.80%	-2.1%
MO	Sell	ALTRIA GROUP INC	$4,815,000	-16.2%	117,722	-3.0%	0.72%	-15.0%
UTX	Sell	UNITED TECH	$4,778,000	-16.2%	35,000	-20.1%	0.72%	-15.0%
NUE	Sell	NUCOR CORP	$3,999,000	-8.1%	78,550	-0.6%	0.60%	-6.8%
DD	Sell	DUPONT de NEMOURS	$3,965,000	-24.5%	55,600	-20.5%	0.59%	-23.4%
BX	Buy	BLACKSTONE	$3,907,000	+30.3%	80,000	+18.5%	0.59%	+32.3%
AMD	Buy	ADVANCED MICRO DEV	$3,690,000	+2.9%	127,275	+7.8%	0.55%	+4.5%
WMT	Buy	WAL-MART STORES	$3,597,000	+7.9%	30,310	+0.4%	0.54%	+9.6%
DOW	Sell	DOW CHEMICAL	$3,024,000	-18.6%	63,470	-15.7%	0.45%	-17.3%
XOM	Sell	EXXON MOBIL CORP	$2,302,000	-8.1%	32,600	-0.3%	0.34%	-6.8%
LHX	New	L3HARRIS TECHNOLOGIES	$2,128,000	–	10,200	–	0.32%	–
MU	Sell	MICRON TECHNOLOGY	$1,925,000	-13.9%	44,925	-22.5%	0.29%	-12.4%
FCX	Buy	FREEPORT MCMORAN	$1,849,000	-11.1%	193,200	+7.8%	0.28%	-9.8%
AMC	New	AMC ENTERTAINMENT	$1,675,000	–	156,575	–	0.25%	–
AMZN	Buy	AMAZON.COM	$1,476,000	-5.5%	850	+3.0%	0.22%	-4.3%
	Buy	VANGUARD 500 INDEX	$1,280,000	+308.9%	4,661	+303.5%	0.19%	+317.4%
CCI	Buy	CROWN CASTLE INT'L	$1,254,000	+6.7%	9,018	+0.0%	0.19%	+8.7%
CIEN	Buy	CIENA CORP	$1,251,000	+99.8%	31,900	+109.5%	0.19%	+104.3%
EPD	Sell	ENTERPRISE PRODS	$1,203,000	-3.8%	42,100	-2.8%	0.18%	-2.7%
CNK	Buy	CINEMARK HLDGS	$1,188,000	+30.7%	30,755	+22.2%	0.18%	+32.8%
SCHW	Sell	CHARLES SCHWAB	$1,008,000	-71.7%	24,100	-72.9%	0.15%	-71.3%
RUN	New	SUNRUN INC	$971,000	–	58,125	–	0.15%	–
LRCX	Sell	LAM RESEARCH CORP	$930,000	-34.9%	4,025	-47.0%	0.14%	-34.1%
WDAY	New	WORKDAY INC	$914,000	–	5,375	–	0.14%	–
GOOGL	Sell	ALPHABET CLASS A	$855,000	-63.3%	700	-67.4%	0.13%	-62.8%
COST	Sell	COSTCO WHOLESALE	$831,000	+4.5%	2,885	-4.2%	0.12%	+6.8%
LITE	New	LUMENTUM HLDG	$782,000	–	14,600	–	0.12%	–
ALC	Sell	ALCON INC	$684,000	-91.3%	11,729	-90.7%	0.10%	-91.1%
ATVI	New	ACTIVISION	$675,000	–	12,750	–	0.10%	–
EXAS	Buy	EXACT SCIENCES CORP	$594,000	+18.3%	6,575	+54.7%	0.09%	+20.3%
FB	Sell	FACEBOOK, INC.	$508,000	-12.3%	2,850	-5.0%	0.08%	-10.6%
MMP	Sell	MAGELLAN	$504,000	+0.4%	7,600	-3.2%	0.08%	+2.7%
GOOG	Sell	ALPHABET CLASS C	$482,000	-4.2%	395	-15.1%	0.07%	-2.7%
VLO	Buy	VALERO ENERGY CORP	$469,000	+56.3%	5,500	+57.1%	0.07%	+59.1%
NSRGY	Sell	NESTLE SA	$382,000	-1.0%	3,525	-5.7%	0.06%	0.0%
VMC	New	VULCAN MATERIALS	$371,000	–	2,450	–	0.06%	–
CVA	Sell	COVANTA HLDG CORP	$365,000	-6.9%	21,125	-3.4%	0.06%	-5.2%
TTWO	Buy	TAKE-TWO INTERACTVE	$279,000	+14.3%	2,225	+3.5%	0.04%	+16.7%
FSLR	New	FIRST SOLAR	$271,000	–	4,675	–	0.04%	–
COP	Sell	CONOCOPHILLIPS	$234,000	-95.8%	4,100	-95.5%	0.04%	-95.7%
CME	New	CME GROUP INC	$232,000	–	1,100	–	0.04%	–
	Buy	VANGUARD CA INT	$168,000	+1.2%	13,903	+0.6%	0.02%	0.0%
ET	Sell	ENERGY TRANSFER	$169,000	-50.1%	12,900	-46.4%	0.02%	-50.0%
	Buy	VANGUARD CA LONG	$141,000	+2.2%	11,210	+0.7%	0.02%	+5.0%
CLNE	Buy	CLEAN ENRGY FUEL	$49,000	+36.1%	23,500	+74.1%	0.01%	+40.0%
	Exit	T ROWE PR BL CHIP	$0	–	-2,501	–	-0.04%	–
BE	Exit	BLOOM ENERGY CORP	$0	–	-26,356	–	-0.05%	–
PYPL	Exit	PAYPAL	$0	–	-3,300	–	-0.06%	–
CXO	Exit	CONCHO RESOURCES	$0	–	-5,225	–	-0.08%	–
FEYE	Exit	FIRE EYE, INC	$0	–	-39,425	–	-0.09%	–
PM	Exit	PHILIP MORRIS INTL	$0	–	-9,492	–	-0.11%	–
	Exit	VANGUARD INDX TR	$0	–	-3,500	–	-0.14%	–
RDSA	Exit	RYL DTCH SHELL	$0	–	-93,345	–	-0.90%	–
GS	Exit	GOLDMAN SACHS	$0	–	-33,285	–	-1.00%	–

Q2 2019

			Value		Shares		↓ Weighting
QUOT	New	QUOTIENT TECH.	$57,269,000	–	5,332,350	–	8.45%	–
MSFT	New	MICROSOFT CORP	$24,986,000	–	186,517	–	3.69%	–
V	New	VISA INC CL A	$21,300,000	–	122,729	–	3.14%	–
BA	New	BOEING	$19,805,000	–	54,407	–	2.92%	–
AAPL	New	APPLE COMPUTER	$18,048,000	–	91,187	–	2.66%	–
PLD	New	PROLOGIS	$16,646,000	–	207,821	–	2.46%	–
NVDA	New	NVIDIA CORP	$16,355,000	–	99,585	–	2.41%	–
JPM	New	JP MORGAN CHASE	$15,188,000	–	135,849	–	2.24%	–
BAC	New	BANK OF AMERICA	$14,245,000	–	491,200	–	2.10%	–
C	New	CITIGROUP INC	$13,826,000	–	197,431	–	2.04%	–
AMAT	New	APPLIED MATERIALS	$13,539,000	–	301,460	–	2.00%	–
HON	New	HONEYWELL INTL	$12,530,000	–	71,767	–	1.85%	–
IBM	New	IBM CORPORATION	$11,935,000	–	86,545	–	1.76%	–
PG	New	PROCTER & GAMBLE	$11,678,000	–	106,500	–	1.72%	–
WDC	New	WESTERN DIGITAL	$11,281,000	–	237,237	–	1.66%	–
LMT	New	LOCKHEED MARTIN	$11,241,000	–	30,920	–	1.66%	–
DIS	New	DISNEY, WALT CO	$10,480,000	–	75,047	–	1.55%	–
STZ	New	CONSTELLATION	$10,427,000	–	52,945	–	1.54%	–
ABT	New	ABBOTT LABS COM	$10,385,000	–	123,486	–	1.53%	–
T	New	AT&T	$10,338,000	–	308,507	–	1.53%	–
MRK	New	MERCK & CO INC	$10,310,000	–	122,960	–	1.52%	–
RIO	New	RIO TINTO	$10,216,000	–	163,872	–	1.51%	–
AMT	New	AMERICAN TOWER	$9,894,000	–	48,395	–	1.46%	–
JNJ	New	JOHN. & JOHN.	$9,647,000	–	69,262	–	1.42%	–
PFE	New	PFIZER INC	$9,627,000	–	222,234	–	1.42%	–
CVX	New	CHEVRON CORP	$9,486,000	–	76,231	–	1.40%	–
CAT	New	CATERPILLAR	$9,372,000	–	68,765	–	1.38%	–
FRC	New	FIRST REPUBLIC	$9,179,000	–	94,000	–	1.36%	–
UNP	New	UNION PACIFIC	$9,028,000	–	53,383	–	1.33%	–
FORD	New	FORD MOTOR CO	$9,015,000	–	881,265	–	1.33%	–
RTN	New	RAYTHEON	$8,984,000	–	51,667	–	1.33%	–
LLY	New	LILLY, ELI & CO	$8,841,000	–	79,800	–	1.30%	–
DLR	New	DIGITAL REALTY TR	$8,774,000	–	74,485	–	1.30%	–
CRM	New	SALESFORCE.COM	$8,454,000	–	55,715	–	1.25%	–
HD	New	HOME DEPOT INC	$7,998,000	–	38,458	–	1.18%	–
ALC	New	ALCON INC	$7,864,000	–	126,739	–	1.16%	–
VZ	New	VERIZON COMM	$7,503,000	–	131,327	–	1.11%	–
CONE	New	CYRUSONE INC	$7,302,000	–	126,515	–	1.08%	–
STWD	New	STARWOOD PROP	$7,255,000	–	319,333	–	1.07%	–
NOW	New	SERVICENOW, INC	$7,213,000	–	26,270	–	1.06%	–
CSCO	New	CISCO SYSTEMS INC	$7,191,000	–	131,398	–	1.06%	–
MAR	New	MARRIOTT INTL	$7,099,000	–	50,600	–	1.05%	–
PEP	New	PEPSICO INC	$6,976,000	–	53,200	–	1.03%	–
GS	New	GOLDMAN SACHS	$6,810,000	–	33,285	–	1.00%	–
MMM	New	3M COMPANY	$6,691,000	–	38,600	–	0.99%	–
CMCSA	New	COMCAST CL A	$6,579,000	–	155,600	–	0.97%	–
NVS	New	NOVARTIS AG	$6,572,000	–	71,971	–	0.97%	–
RDSA	New	RYL DTCH SHELL	$6,074,000	–	93,345	–	0.90%	–
MO	New	ALTRIA GROUP INC	$5,749,000	–	121,406	–	0.85%	–
UTX	New	UNITED TECH	$5,703,000	–	43,800	–	0.84%	–
ABBV	New	ABBVIE INC.	$5,614,000	–	77,200	–	0.83%	–
BMY	New	BRISTOL-MYERS	$5,590,000	–	123,265	–	0.82%	–
MS	New	MORGAN STANLEY	$5,555,000	–	126,800	–	0.82%	–
COP	New	CONOCOPHILLIPS	$5,514,000	–	90,400	–	0.81%	–
DD	New	DUPONT de NEMOURS	$5,253,000	–	69,978	–	0.78%	–
AVGO	New	BROADCOM LTD	$5,147,000	–	17,880	–	0.76%	–
INTC	New	INTEL CORPORATION	$5,043,000	–	105,350	–	0.74%	–
GE	New	GENERAL ELECTRIC	$4,683,000	–	446,000	–	0.69%	–
NUE	New	NUCOR CORP	$4,353,000	–	79,000	–	0.64%	–
DOW	New	DOW CHEMICAL	$3,714,000	–	75,320	–	0.55%	–
AMD	New	ADVANCED MICRO DEV	$3,587,000	–	118,100	–	0.53%	–
SCHW	New	CHARLES SCHWAB	$3,568,000	–	88,777	–	0.53%	–
WFC	New	WELLS FARGO & CO	$3,409,000	–	72,050	–	0.50%	–
WMT	New	WAL-MART STORES	$3,335,000	–	30,185	–	0.49%	–
BX	New	BLACKSTONE	$2,998,000	–	67,500	–	0.44%	–
AXP	New	AMERICAN EXPRESS	$2,845,000	–	23,050	–	0.42%	–
XOM	New	EXXON MOBIL CORP	$2,506,000	–	32,701	–	0.37%	–
GOOGL	New	ALPHABET CLASS A	$2,328,000	–	2,150	–	0.34%	–
MU	New	MICRON TECHNOLOGY	$2,237,000	–	57,975	–	0.33%	–
FCX	New	FREEPORT MCMORAN	$2,081,000	–	179,200	–	0.31%	–
AMZN	New	AMAZON.COM	$1,562,000	–	825	–	0.23%	–
LRCX	New	LAM RESEARCH CORP	$1,428,000	–	7,600	–	0.21%	–
EPD	New	ENTERPRISE PRODS	$1,250,000	–	43,300	–	0.18%	–
CCI	New	CROWN CASTLE INT'L	$1,175,000	–	9,017	–	0.17%	–
	New	VANGUARD INDX TR	$950,000	–	3,500	–	0.14%	–
CLX	New	CLOROX COMPANY	$919,000	–	6,000	–	0.14%	–
CNK	New	CINEMARK HLDGS	$909,000	–	25,175	–	0.13%	–
AVB	New	AVALONBAY	$871,000	–	4,285	–	0.13%	–
CPT	New	CAMDEN PROPERTY	$844,000	–	8,084	–	0.12%	–
COST	New	COSTCO WHOLESALE	$795,000	–	3,010	–	0.12%	–
PM	New	PHILIP MORRIS INTL	$745,000	–	9,492	–	0.11%	–
ORCL	New	ORACLE CORP	$695,000	–	12,200	–	0.10%	–
SPG	New	SIMON PPTY GRP INC	$649,000	–	4,060	–	0.10%	–
CIEN	New	CIENA CORP	$626,000	–	15,225	–	0.09%	–
FEYE	New	FIRE EYE, INC	$584,000	–	39,425	–	0.09%	–
FB	New	FACEBOOK, INC.	$579,000	–	3,000	–	0.08%	–
CXO	New	CONCHO RESOURCES	$539,000	–	5,225	–	0.08%	–
HPQ	New	HP INC.	$532,000	–	25,600	–	0.08%	–
GOOG	New	ALPHABET CLASS C	$503,000	–	465	–	0.07%	–
MMP	New	MAGELLAN	$502,000	–	7,850	–	0.07%	–
EXAS	New	EXACT SCIENCES CORP	$502,000	–	4,250	–	0.07%	–
GPS	New	GAP INC	$478,000	–	26,600	–	0.07%	–
VTR	New	VENTAS INC.	$410,000	–	6,000	–	0.06%	–
CVA	New	COVANTA HLDG CORP	$392,000	–	21,875	–	0.06%	–
HPE	New	HEWLETT-PACKARD	$383,000	–	25,600	–	0.06%	–
NSRGY	New	NESTLE SA	$386,000	–	3,737	–	0.06%	–
PYPL	New	PAYPAL	$378,000	–	3,300	–	0.06%	–
BEN	New	FRANKLIN RES	$376,000	–	10,800	–	0.06%	–
	New	REGENCY CENTERS	$350,000	–	5,250	–	0.05%	–
ET	New	ENERGY TRANSFER	$339,000	–	24,082	–	0.05%	–
BE	New	BLOOM ENERGY CORP	$323,000	–	26,356	–	0.05%	–
ACC	New	AMERICAN CAMPUS	$323,000	–	7,000	–	0.05%	–
	New	VANGUARD 500 INDEX	$313,000	–	1,155	–	0.05%	–
CI	New	CIGNA CORP	$315,000	–	2,000	–	0.05%	–
ADBE	New	ADOBE SYSTEMS	$295,000	–	1,000	–	0.04%	–
VLO	New	VALERO ENERGY CORP	$300,000	–	3,500	–	0.04%	–
	New	T ROWE PR BL CHIP	$290,000	–	2,501	–	0.04%	–
NRZ	New	NEW RESIDENTIAL INVEST	$288,000	–	18,700	–	0.04%	–
TRP	New	TC ENERGY CORP	$248,000	–	5,000	–	0.04%	–
TTWO	New	TAKE-TWO INTERACTVE	$244,000	–	2,150	–	0.04%	–
HEP	New	HOLLY ENERGY	$236,000	–	8,600	–	0.04%	–
FLO	New	FLOWERS FOODS	$233,000	–	10,000	–	0.03%	–
MDLZ	New	MONDELEZ INTL	$221,000	–	4,100	–	0.03%	–
	New	COMM BK BAY OAKLAND CA	$210,000	–	30,000	–	0.03%	–
BABA	New	ALIBABA GROUP	$203,000	–	1,200	–	0.03%	–
SQ	New	SQUARE INC	$203,000	–	2,800	–	0.03%	–
	New	VANGUARD CA INT	$166,000	–	13,820	–	0.02%	–
	New	VANGUARD CA LONG	$138,000	–	11,130	–	0.02%	–
CLNE	New	CLEAN ENRGY FUEL	$36,000	–	13,500	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
AINV	Exit	APOLLO INVESTMENT	$0	–	-10,000	–	-0.01%	–
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-33,500	–	-0.01%	–
FLO	Exit	FLOWERS FOODS	$0	–	-10,000	–	-0.03%	–
APA	Exit	APACHE CORP	$0	–	-4,375	–	-0.03%	–
BK	Exit	BANK OF NEW YORK	$0	–	-4,100	–	-0.03%	–
AMGN	Exit	AMGEN INC	$0	–	-1,025	–	-0.03%	–
DXC	Exit	DXC TECHNOLOGY	$0	–	-2,300	–	-0.03%	–
WDAY	Exit	WORKDAY INC	$0	–	-1,475	–	-0.03%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.03%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-9,388	–	-0.04%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-1,000	–	-0.04%	–
HEP	Exit	HOLLY ENERGY	$0	–	-8,600	–	-0.04%	–
AL	Exit	AIR LEASE CORP	$0	–	-5,870	–	-0.04%	–
ETP	Exit	ENRGY TRNSFR PRT	$0	–	-13,175	–	-0.04%	–
X	Exit	US STEEL CORP	$0	–	-9,550	–	-0.04%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-7,000	–	-0.04%	–
MAC	Exit	MACERICH CO	$0	–	-5,398	–	-0.04%	–
FEYE	Exit	FIRE EYE, INC	$0	–	-17,500	–	-0.04%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-4,200	–	-0.05%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.05%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-3,000	–	-0.05%	–
	Exit	REGENCY CENTERS	$0	–	-5,250	–	-0.05%	–
VAR	Exit	VARIAN MEDICAL SYS	$0	–	-3,000	–	-0.05%	–
NSRGY	Exit	NESTLE SA	$0	–	-4,337	–	-0.05%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-22,625	–	-0.05%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-10,000	–	-0.06%	–
HPE	Exit	HEWLETT-PACKARD ENT	$0	–	-25,600	–	-0.06%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-10,838	–	-0.07%	–
T	Exit	AT&T	$0	–	-15,477	–	-0.08%	–
MMP	Exit	MAGELLAN	$0	–	-7,850	–	-0.08%	–
VTR	Exit	VENTAS INC.	$0	–	-10,583	–	-0.08%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-517	–	-0.09%	–
ORCL	Exit	ORACLE CORP	$0	–	-12,200	–	-0.09%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-2,948	–	-0.10%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-4,060	–	-0.11%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-7,992	–	-0.11%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-8,000	–	-0.11%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.11%	–
AVB	Exit	AVALONBAY	$0	–	-4,285	–	-0.12%	–
HLT	Exit	HILTON WORLDWIDE	$0	–	-9,900	–	-0.12%	–
AIG	Exit	AMER INT'L GROUP	$0	–	-15,500	–	-0.12%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.13%	–
APC	Exit	ANADARKO PETRO	$0	–	-13,750	–	-0.14%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-8,782	–	-0.14%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-7,450	–	-0.17%	–
FB	Exit	FACEBOOK, INC.	$0	–	-6,979	–	-0.17%	–
AMZN	Exit	AMAZON.COM	$0	–	-577	–	-0.17%	–
WBA	Exit	WALGREEN CO	$0	–	-15,975	–	-0.17%	–
OXY	Exit	OCCIDENTAL PET	$0	–	-14,190	–	-0.17%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-43,500	–	-0.18%	–
TRGP	Exit	TARGA CORP	$0	–	-27,495	–	-0.23%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-114,000	–	-0.24%	–
LW	Exit	LAMB WESTON	$0	–	-24,700	–	-0.24%	–
YHOO	Exit	WEYERHAEUSER	$0	–	-65,400	–	-0.31%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-187,700	–	-0.31%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-23,150	–	-0.36%	–
BX	Exit	BLACKSTONE	$0	–	-65,900	–	-0.37%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-2,263	–	-0.40%	–
WMT	Exit	WAL-MART STORES	$0	–	-30,082	–	-0.42%	–
PYPL	Exit	PAYPAL	$0	–	-38,925	–	-0.51%	–
AA	Exit	ALCOA	$0	–	-89,050	–	-0.53%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-71,416	–	-0.66%	–
PM	Exit	PHILIP MORRIS INTL	$0	–	-58,283	–	-0.70%	–
NUE	Exit	NUCOR CORP	$0	–	-76,100	–	-0.71%	–
IP	Exit	INTL PAPER	$0	–	-104,497	–	-0.76%	–
CMCSA	Exit	COMCAST CL A	$0	–	-155,600	–	-0.82%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-114,972	–	-0.84%	–
NWL	Exit	NEWELL BRANDS	$0	–	-290,606	–	-0.87%	–
MS	Exit	MORGAN STANLEY	$0	–	-130,400	–	-0.90%	–
INTC	Exit	INTEL CORPORATION	$0	–	-129,182	–	-0.90%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-84,220	–	-0.95%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-124,035	–	-0.96%	–
MAR	Exit	MARRIOTT INTL	$0	–	-51,000	–	-1.00%	–
RDSA	Exit	RYL DTCH SHELL	$0	–	-100,190	–	-1.01%	–
KEY	Exit	KEYCORP	$0	–	-345,650	–	-1.02%	–
VZ	Exit	VERIZON COMM	$0	–	-131,425	–	-1.04%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-91,050	–	-1.04%	–
PF	Exit	PINNACLE FOODS	$0	–	-110,334	–	-1.06%	–
GS	Exit	GOLDMAN SACHS	$0	–	-31,953	–	-1.06%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-61,918	–	-1.07%	–
CONE	Exit	CYRUSONE INC	$0	–	-114,820	–	-1.08%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-121,769	–	-1.09%	–
IBM	Exit	IBM CORPORATION	$0	–	-49,845	–	-1.12%	–
PEP	Exit	PEPSICO INC	$0	–	-67,682	–	-1.12%	–
HD	Exit	HOME DEPOT INC	$0	–	-38,255	–	-1.17%	–
UTX	Exit	UNITED TECH	$0	–	-57,216	–	-1.18%	–
AMT	Exit	AMERICAN TOWER	$0	–	-55,440	–	-1.19%	–
MRK	Exit	MERCK & CO INC	$0	–	-114,882	–	-1.21%	–
RTN	Exit	RAYTHEON	$0	–	-39,440	–	-1.21%	–
CRM	Exit	SALESFORCE.COM	$0	–	-51,310	–	-1.21%	–
AGN	Exit	ALLERGAN INC.	$0	–	-43,335	–	-1.22%	–
PFE	Exit	PFIZER INC	$0	–	-190,233	–	-1.24%	–
CAT	Exit	CATERPILLAR	$0	–	-55,100	–	-1.24%	–
RIO	Exit	RIO TINTO	$0	–	-165,392	–	-1.25%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-61,125	–	-1.25%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-132,420	–	-1.26%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-25,945	–	-1.33%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-1.34%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-123,859	–	-1.34%	–
MMM	Exit	3M COMPANY	$0	–	-43,162	–	-1.35%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-86,948	–	-1.38%	–
UNP	Exit	UNION PACIFIC	$0	–	-58,002	–	-1.40%	–
CVX	Exit	CHEVRON CORP	$0	–	-78,168	–	-1.41%	–
HPQ	Exit	HP INC.	$0	–	-376,004	–	-1.43%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-115,100	–	-1.45%	–
C	Exit	CITIGROUP INC	$0	–	-140,871	–	-1.50%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-127,258	–	-1.57%	–
HON	Exit	HONEYWELL INTL	$0	–	-69,914	–	-1.72%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-329,019	–	-1.88%	–
ABBV	Exit	ABBVIE INC.	$0	–	-134,792	–	-1.89%	–
BAC	Exit	BANK OF AMERICA	$0	–	-465,445	–	-2.03%	–
PLD	Exit	PROLOGIS	$0	–	-208,121	–	-2.09%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-137,631	–	-2.30%	–
V	Exit	VISA INC CL A	$0	–	-118,177	–	-2.62%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-164,394	–	-2.78%	–
BA	Exit	BOEING	$0	–	-57,446	–	-3.16%	–
NVDA	Exit	NVIDIA CORP	$0	–	-79,130	–	-3.29%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-109,214	–	-3.65%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,596,350	–	-12.83%	–

Q3 2018

			Value		Shares		↓ Weighting
QUOT	Buy	QUOTIENT TECH.	$86,743,000	+18.4%	5,596,350	+0.0%	12.83%	+9.1%
AAPL	Buy	APPLE COMPUTER	$24,654,000	+24.7%	109,214	+2.2%	3.65%	+14.9%
NVDA	Sell	NVIDIA CORP	$22,237,000	+18.6%	79,130	-0.0%	3.29%	+9.3%
BA	Buy	BOEING	$21,364,000	+11.9%	57,446	+1.0%	3.16%	+3.2%
MSFT	Buy	MICROSOFT CORP	$18,802,000	+22.7%	164,394	+5.8%	2.78%	+13.1%
V	Buy	VISA INC CL A	$17,737,000	+14.3%	118,177	+0.8%	2.62%	+5.3%
JPM	Buy	JP MORGAN CHASE	$15,530,000	+9.1%	137,631	+0.7%	2.30%	+0.6%
PLD	Sell	PROLOGIS	$14,109,000	+2.9%	208,121	-0.3%	2.09%	-5.2%
BAC	Sell	BANK OF AMERICA	$13,712,000	+3.8%	465,445	-0.7%	2.03%	-4.3%
ABBV	Sell	ABBVIE INC.	$12,749,000	+1.8%	134,792	-0.3%	1.89%	-6.2%
AMAT	Buy	APPLIED MATERIALS	$12,717,000	-15.8%	329,019	+0.7%	1.88%	-22.3%
HON	Buy	HONEYWELL INTL	$11,634,000	+16.1%	69,914	+0.5%	1.72%	+7.0%
PG	Sell	PROCTER & GAMBLE	$10,592,000	+6.5%	127,258	-0.2%	1.57%	-1.9%
C	Buy	CITIGROUP INC	$10,106,000	+7.4%	140,871	+0.2%	1.50%	-1.1%
XOM	Buy	EXXON MOBIL CORP	$9,786,000	+26.4%	115,100	+23.0%	1.45%	+16.5%
HPQ	Buy	HP INC.	$9,690,000	+14.9%	376,004	+1.1%	1.43%	+5.9%
CVX	Sell	CHEVRON CORP	$9,558,000	-4.0%	78,168	-0.8%	1.41%	-11.5%
UNP	Buy	UNION PACIFIC	$9,444,000	+17.8%	58,002	+2.5%	1.40%	+8.5%
LLY	Sell	LILLY, ELI & CO	$9,330,000	+23.8%	86,948	-1.6%	1.38%	+14.0%
MMM	Buy	3M COMPANY	$9,095,000	+7.7%	43,162	+0.5%	1.35%	-0.7%
ABT	Buy	ABBOTT LABS COM	$9,086,000	+21.0%	123,859	+0.6%	1.34%	+11.5%
LMT	Buy	LOCKHEED MARTIN	$8,976,000	+17.6%	25,945	+0.4%	1.33%	+8.4%
DWDP	Buy	DOWDUPONT INC	$8,516,000	-2.0%	132,420	+0.5%	1.26%	-9.6%
JNJ	Buy	JOHN. & JOHN.	$8,446,000	+14.1%	61,125	+0.2%	1.25%	+5.2%
RIO	Sell	RIO TINTO	$8,438,000	-8.7%	165,392	-0.7%	1.25%	-15.8%
PFE	Sell	PFIZER INC	$8,384,000	+21.3%	190,233	-0.2%	1.24%	+11.7%
CRM	Buy	SALESFORCE.COM	$8,160,000	+16.9%	51,310	+0.3%	1.21%	+7.8%
MRK	Sell	MERCK & CO INC	$8,150,000	+16.6%	114,882	-0.3%	1.21%	+7.5%
RTN	Buy	RAYTHEON	$8,151,000	+10.3%	39,440	+3.1%	1.21%	+1.7%
AMT	Sell	AMERICAN TOWER	$8,055,000	+0.8%	55,440	-0.0%	1.19%	-7.1%
UTX	Buy	UNITED TECH	$7,999,000	+13.6%	57,216	+1.6%	1.18%	+4.7%
HD	Buy	HOME DEPOT INC	$7,924,000	+7.0%	38,255	+0.8%	1.17%	-1.3%
PEP	Sell	PEPSICO INC	$7,567,000	+2.1%	67,682	-0.6%	1.12%	-5.9%
IBM	Buy	IBM CORPORATION	$7,537,000	+8.4%	49,845	+0.1%	1.12%	-0.1%
MO	Sell	ALTRIA GROUP INC	$7,344,000	+6.1%	121,769	-0.1%	1.09%	-2.2%
CONE	Sell	CYRUSONE INC	$7,280,000	+8.3%	114,820	-0.3%	1.08%	-0.2%
DIS	Buy	DISNEY, WALT CO	$7,241,000	+12.9%	61,918	+1.2%	1.07%	+4.1%
GS	Buy	GOLDMAN SACHS	$7,165,000	+3.5%	31,953	+1.8%	1.06%	-4.6%
COP	Sell	CONOCOPHILLIPS	$7,047,000	+10.9%	91,050	-0.2%	1.04%	+2.3%
VZ	Sell	VERIZON COMM	$7,017,000	+5.5%	131,425	-0.6%	1.04%	-2.8%
KEY	Buy	KEYCORP	$6,875,000	+1.9%	345,650	+0.1%	1.02%	-6.1%
WFC	Sell	WELLS FARGO & CO	$6,519,000	-5.8%	124,035	-0.7%	0.96%	-13.1%
INTC	Sell	INTEL CORPORATION	$6,109,000	-25.1%	129,182	-21.2%	0.90%	-30.9%
NWL	Sell	NEWELL BRANDS	$5,899,000	-29.5%	290,606	-10.4%	0.87%	-34.9%
SCHW	Buy	CHARLES SCHWAB	$5,651,000	-2.3%	114,972	+1.6%	0.84%	-10.0%
CMCSA	Sell	COMCAST CL A	$5,510,000	+5.5%	155,600	-2.2%	0.82%	-2.7%
IP	Sell	INTL PAPER	$5,136,000	-6.8%	104,497	-1.2%	0.76%	-14.0%
PM	Sell	PHILIP MORRIS INTL	$4,752,000	-4.9%	58,283	-5.9%	0.70%	-12.3%
PYPL	Buy	PAYPAL	$3,419,000	+18.8%	38,925	+12.6%	0.51%	+9.5%
WMT	Buy	WAL-MART STORES	$2,825,000	+9.7%	30,082	+0.0%	0.42%	+1.2%
GOOGL	Buy	ALPHABET CLASS A	$2,732,000	+178.8%	2,263	+160.7%	0.40%	+157.3%
BX	Sell	BLACKSTONE	$2,509,000	+17.8%	65,900	-0.5%	0.37%	+8.5%
AXP	Sell	AMERICAN EXPRESS	$2,465,000	+7.3%	23,150	-1.3%	0.36%	-1.1%
GE	Buy	GENERAL ELECTRIC	$2,119,000	+155.6%	187,700	+208.2%	0.31%	+136.1%
LW	Sell	LAMB WESTON	$1,645,000	-4.7%	24,700	-2.0%	0.24%	-12.3%
FCX	Buy	FREEPORT MCMORAN	$1,587,000	-4.5%	114,000	+18.4%	0.24%	-12.0%
TRGP	Sell	TARGA CORP	$1,548,000	+12.9%	27,495	-0.7%	0.23%	+4.1%
EPD	Sell	ENTERPRISE PRODS	$1,250,000	-0.1%	43,500	-3.8%	0.18%	-8.0%
OXY	Sell	OCCIDENTAL PET	$1,166,000	-13.9%	14,190	-12.4%	0.17%	-20.3%
WBA	Sell	WALGREEN CO	$1,165,000	+2.3%	15,975	-15.8%	0.17%	-6.0%
AMZN	Buy	AMAZON.COM	$1,156,000	+19.9%	577	+1.8%	0.17%	+10.3%
FB	Sell	FACEBOOK, INC.	$1,148,000	-15.7%	6,979	-0.4%	0.17%	-22.0%
LRCX	Buy	LAM RESEARCH CORP	$1,130,000	-10.7%	7,450	+1.7%	0.17%	-17.7%
CCI	Sell	CROWN CASTLE INT'L	$978,000	-4.9%	8,782	-7.9%	0.14%	-12.1%
APC	Buy	ANADARKO PETRO	$927,000	-5.9%	13,750	+2.2%	0.14%	-13.3%
CPT	Sell	CAMDEN PROPERTY	$748,000	-1.1%	7,992	-3.6%	0.11%	-8.3%
COST	Buy	COSTCO WHOLESALE	$692,000	+15.0%	2,948	+2.3%	0.10%	+5.2%
ORCL	Sell	ORACLE CORP	$629,000	+15.6%	12,200	-1.3%	0.09%	+6.9%
MMP	Sell	MAGELLAN	$532,000	-2.6%	7,850	-0.6%	0.08%	-10.2%
T	Sell	AT&T	$520,000	+0.8%	15,477	-3.7%	0.08%	-7.2%
MDLZ	Sell	MONDELEZ INTL	$466,000	-0.2%	10,838	-4.8%	0.07%	-8.0%
TRP	Buy	TRANSCANADA CORP	$405,000	+87.5%	10,000	+100.0%	0.06%	+71.4%
CVA	Sell	COVANTA HLDG CORP	$368,000	-4.9%	22,625	-3.4%	0.05%	-12.9%
VLO	Sell	VALERO ENERGY CORP	$341,000	-0.9%	3,000	-3.2%	0.05%	-9.1%
FEYE	New	FIRE EYE, INC	$297,000	–	17,500	–	0.04%	–
MAC	Sell	MACERICH CO	$298,000	-9.7%	5,398	-7.1%	0.04%	-17.0%
ACC	Sell	AMERICAN CAMPUS	$288,000	-15.0%	7,000	-11.4%	0.04%	-20.4%
X	New	US STEEL CORP	$291,000	–	9,550	–	0.04%	–
ETP	Sell	ENRGY TRNSFR PRT	$293,000	-69.6%	13,175	-74.0%	0.04%	-72.3%
WMB	New	WILLIAMS COS INC	$255,000	–	9,388	–	0.04%	–
DXC	New	DXC TECHNOLOGY	$215,000	–	2,300	–	0.03%	–
WDAY	New	WORKDAY INC	$215,000	–	1,475	–	0.03%	–
AMGN	New	AMGEN INC	$212,000	–	1,025	–	0.03%	–
BK	Sell	BANK OF NEW YORK	$209,000	-9.9%	4,100	-4.7%	0.03%	-16.2%
STZ	Exit	CONSTELLATION	$0	–	-1,800	–	-0.06%	–
HAL	Exit	HALLIBURTON CO	$0	–	-36,072	–	-0.26%	–

Q2 2018

			Value		Shares		↓ Weighting
QUOT	New	QUOTIENT TECH.	$73,293,000	–	5,594,850	–	11.76%	–
AAPL	New	APPLE COMPUTER	$19,776,000	–	106,834	–	3.17%	–
BA	New	BOEING	$19,085,000	–	56,885	–	3.06%	–
NVDA	New	NVIDIA CORP	$18,752,000	–	79,155	–	3.01%	–
V	New	VISA INC CL A	$15,523,000	–	117,201	–	2.49%	–
MSFT	New	MICROSOFT CORP	$15,325,000	–	155,406	–	2.46%	–
AMAT	New	APPLIED MATERIALS	$15,095,000	–	326,794	–	2.42%	–
JPM	New	JP MORGAN CHASE	$14,237,000	–	136,629	–	2.28%	–
PLD	New	PROLOGIS	$13,717,000	–	208,821	–	2.20%	–
BAC	New	BANK OF AMERICA	$13,208,000	–	468,545	–	2.12%	–
ABBV	New	ABBVIE INC.	$12,521,000	–	135,140	–	2.01%	–
HON	New	HONEYWELL INTL	$10,021,000	–	69,563	–	1.61%	–
CVX	New	CHEVRON CORP	$9,958,000	–	78,764	–	1.60%	–
PG	New	PROCTER & GAMBLE	$9,949,000	–	127,457	–	1.60%	–
C	New	CITIGROUP INC	$9,412,000	–	140,643	–	1.51%	–
RIO	New	RIO TINTO	$9,239,000	–	166,537	–	1.48%	–
FRC	New	FIRST REPUBLIC	$9,098,000	–	94,000	–	1.46%	–
DWDP	New	DOWDUPONT INC	$8,686,000	–	131,768	–	1.39%	–
MMM	New	3M COMPANY	$8,445,000	–	42,927	–	1.36%	–
HPQ	New	HP INC.	$8,436,000	–	371,802	–	1.35%	–
NWL	New	NEWELL BRANDS	$8,364,000	–	324,313	–	1.34%	–
INTC	New	INTEL CORPORATION	$8,151,000	–	163,980	–	1.31%	–
UNP	New	UNION PACIFIC	$8,016,000	–	56,577	–	1.29%	–
AMT	New	AMERICAN TOWER	$7,995,000	–	55,453	–	1.28%	–
XOM	New	EXXON MOBIL CORP	$7,744,000	–	93,600	–	1.24%	–
LMT	New	LOCKHEED MARTIN	$7,632,000	–	25,835	–	1.22%	–
LLY	New	LILLY, ELI & CO	$7,538,000	–	88,341	–	1.21%	–
ABT	New	ABBOTT LABS COM	$7,507,000	–	123,083	–	1.20%	–
CAT	New	CATERPILLAR	$7,475,000	–	55,100	–	1.20%	–
PEP	New	PEPSICO INC	$7,414,000	–	68,099	–	1.19%	–
JNJ	New	JOHN. & JOHN.	$7,401,000	–	60,993	–	1.19%	–
HD	New	HOME DEPOT INC	$7,404,000	–	37,948	–	1.19%	–
RTN	New	RAYTHEON	$7,389,000	–	38,250	–	1.19%	–
AGN	New	ALLERGAN INC.	$7,225,000	–	43,335	–	1.16%	–
PF	New	PINNACLE FOODS	$7,178,000	–	110,334	–	1.15%	–
UTX	New	UNITED TECH	$7,044,000	–	56,340	–	1.13%	–
MRK	New	MERCK & CO INC	$6,991,000	–	115,180	–	1.12%	–
CRM	New	SALESFORCE.COM	$6,979,000	–	51,165	–	1.12%	–
IBM	New	IBM CORPORATION	$6,956,000	–	49,795	–	1.12%	–
RDSA	New	RYL DTCH SHELL	$6,936,000	–	100,190	–	1.11%	–
GS	New	GOLDMAN SACHS	$6,925,000	–	31,398	–	1.11%	–
MO	New	ALTRIA GROUP INC	$6,920,000	–	121,845	–	1.11%	–
WFC	New	WELLS FARGO & CO	$6,922,000	–	124,847	–	1.11%	–
PFE	New	PFIZER INC	$6,913,000	–	190,552	–	1.11%	–
KEY	New	KEYCORP	$6,748,000	–	345,350	–	1.08%	–
CONE	New	CYRUSONE INC	$6,724,000	–	115,220	–	1.08%	–
VZ	New	VERIZON COMM	$6,651,000	–	132,198	–	1.07%	–
MAR	New	MARRIOTT INTL	$6,457,000	–	51,000	–	1.04%	–
DIS	New	DISNEY, WALT CO	$6,411,000	–	61,167	–	1.03%	–
COP	New	CONOCOPHILLIPS	$6,353,000	–	91,250	–	1.02%	–
MS	New	MORGAN STANLEY	$6,181,000	–	130,400	–	0.99%	–
EMR	New	EMERSON ELECTRIC	$5,823,000	–	84,220	–	0.94%	–
SCHW	New	CHARLES SCHWAB	$5,785,000	–	113,211	–	0.93%	–
IP	New	INTL PAPER	$5,510,000	–	105,807	–	0.88%	–
CMCSA	New	COMCAST CL A	$5,222,000	–	159,146	–	0.84%	–
PM	New	PHILIP MORRIS INTL	$4,999,000	–	61,919	–	0.80%	–
NUE	New	NUCOR CORP	$4,756,000	–	76,100	–	0.76%	–
AA	New	ALCOA	$4,175,000	–	89,050	–	0.67%	–
BMY	New	BRISTOL-MYERS	$3,952,000	–	71,416	–	0.63%	–
PYPL	New	PAYPAL	$2,878,000	–	34,568	–	0.46%	–
WMT	New	WAL-MART STORES	$2,576,000	–	30,078	–	0.41%	–
YHOO	New	WEYERHAEUSER	$2,384,000	–	65,400	–	0.38%	–
AXP	New	AMERICAN EXPRESS	$2,298,000	–	23,450	–	0.37%	–
BX	New	BLACKSTONE	$2,130,000	–	66,200	–	0.34%	–
LW	New	LAMB WESTON	$1,726,000	–	25,200	–	0.28%	–
FCX	New	FREEPORT MCMORAN	$1,661,000	–	96,250	–	0.27%	–
HAL	New	HALLIBURTON CO	$1,625,000	–	36,072	–	0.26%	–
TRGP	New	TARGA CORP	$1,371,000	–	27,695	–	0.22%	–
FB	New	FACEBOOK, INC.	$1,361,000	–	7,004	–	0.22%	–
OXY	New	OCCIDENTAL PET	$1,355,000	–	16,190	–	0.22%	–
LRCX	New	LAM RESEARCH CORP	$1,266,000	–	7,325	–	0.20%	–
EPD	New	ENTERPRISE PRODS	$1,251,000	–	45,200	–	0.20%	–
WBA	New	WALGREEN CO	$1,139,000	–	18,975	–	0.18%	–
CCI	New	CROWN CASTLE INT'L	$1,028,000	–	9,531	–	0.16%	–
APC	New	ANADARKO PETRO	$985,000	–	13,450	–	0.16%	–
GOOGL	New	ALPHABET CLASS A	$980,000	–	868	–	0.16%	–
ETP	New	ENRGY TRNSFR PRT	$964,000	–	50,625	–	0.16%	–
AMZN	New	AMAZON.COM	$964,000	–	567	–	0.16%	–
GPS	New	GAP INC	$862,000	–	26,600	–	0.14%	–
GE	New	GENERAL ELECTRIC	$829,000	–	60,900	–	0.13%	–
AIG	New	AMER INT'L GROUP	$822,000	–	15,500	–	0.13%	–
CLX	New	CLOROX COMPANY	$811,000	–	6,000	–	0.13%	–
HLT	New	HILTON WORLDWIDE	$784,000	–	9,900	–	0.13%	–
CPT	New	CAMDEN PROPERTY	$756,000	–	8,292	–	0.12%	–
AVB	New	AVALONBAY	$737,000	–	4,285	–	0.12%	–
SPG	New	SIMON PPTY GRP INC	$691,000	–	4,060	–	0.11%	–
ESRX	New	EXPRESS SCRIPTS	$618,000	–	8,000	–	0.10%	–
COST	New	COSTCO WHOLESALE	$602,000	–	2,883	–	0.10%	–
VTR	New	VENTAS INC.	$603,000	–	10,583	–	0.10%	–
GOOG	New	ALPHABET CLASS C	$577,000	–	517	–	0.09%	–
MMP	New	MAGELLAN	$546,000	–	7,900	–	0.09%	–
ORCL	New	ORACLE CORP	$544,000	–	12,355	–	0.09%	–
T	New	AT&T	$516,000	–	16,077	–	0.08%	–
MDLZ	New	MONDELEZ INTL	$467,000	–	11,387	–	0.08%	–
STZ	New	CONSTELLATION	$394,000	–	1,800	–	0.06%	–
CVA	New	COVANTA HLDG CORP	$387,000	–	23,425	–	0.06%	–
HPE	New	HEWLETT-PACKARD ENT	$374,000	–	25,600	–	0.06%	–
BEN	New	FRANKLIN RES	$346,000	–	10,800	–	0.06%	–
VLO	New	VALERO ENERGY CORP	$344,000	–	3,100	–	0.06%	–
VAR	New	VARIAN MEDICAL SYS	$341,000	–	3,000	–	0.06%	–
ACC	New	AMERICAN CAMPUS	$339,000	–	7,900	–	0.05%	–
NSRGY	New	NESTLE SA	$336,000	–	4,337	–	0.05%	–
MAC	New	MACERICH CO	$330,000	–	5,810	–	0.05%	–
	New	REGENCY CENTERS	$326,000	–	5,250	–	0.05%	–
GILD	New	GILEAD SCIENCES INC	$298,000	–	4,200	–	0.05%	–
AL	New	AIR LEASE CORP	$246,000	–	5,870	–	0.04%	–
HEP	New	HOLLY ENERGY	$243,000	–	8,600	–	0.04%	–
ADBE	New	ADOBE SYSTEMS	$244,000	–	1,000	–	0.04%	–
BK	New	BANK OF NEW YORK	$232,000	–	4,300	–	0.04%	–
TRP	New	TRANSCANADA CORP	$216,000	–	5,000	–	0.04%	–
FLO	New	FLOWERS FOODS	$208,000	–	10,000	–	0.03%	–
APA	New	APACHE CORP	$205,000	–	4,375	–	0.03%	–
	New	COMM BK BAY OAKLAND CA	$202,000	–	30,000	–	0.03%	–
CLNE	New	CLEAN ENRGY FUEL	$124,000	–	33,500	–	0.02%	–
AINV	New	APOLLO INVESTMENT	$56,000	–	10,000	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-10,500	–	-0.00%	–
AINV	Exit	APOLLO INVESTMENT	$0	–	-10,000	–	-0.01%	–
JCPNQ	Exit	JC PENNEY	$0	–	-27,900	–	-0.02%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.03%	–
FEYE	Exit	FIRE EYE, INC	$0	–	-10,600	–	-0.03%	–
ENBL	Exit	ENABLE MIDSTREAM	$0	–	-12,350	–	-0.03%	–
PYPL	Exit	PAYPAL	$0	–	-3,200	–	-0.04%	–
VREX	Exit	VAREX IMAGING	$0	–	-6,400	–	-0.04%	–
DXC	Exit	DXC TECHNOLOGY	$0	–	-2,600	–	-0.04%	–
EQM	Exit	EQT MIDSTREAM	$0	–	-3,300	–	-0.04%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-5,000	–	-0.04%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-1,633	–	-0.04%	–
FLO	Exit	FLOWERS FOODS	$0	–	-15,000	–	-0.05%	–
HEP	Exit	HOLLY ENERGY	$0	–	-8,600	–	-0.05%	–
ET	Exit	ENRGY TRNSFR EQU	$0	–	-16,800	–	-0.05%	–
AL	Exit	AIR LEASE CORP	$0	–	-7,050	–	-0.05%	–
STZ	Exit	CONSTELLATION	$0	–	-1,650	–	-0.06%	–
	Exit	REGENCY CENTERS	$0	–	-5,400	–	-0.06%	–
APA	Exit	APACHE CORP	$0	–	-7,575	–	-0.06%	–
MAC	Exit	MACERICH CO	$0	–	-6,436	–	-0.06%	–
HPE	Exit	HEWLETT-PACKARD ENT	$0	–	-25,600	–	-0.06%	–
NSRGY	Exit	NESTLE SA	$0	–	-4,437	–	-0.06%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-5,200	–	-0.07%	–
KEY	Exit	KEYCORP	$0	–	-23,500	–	-0.07%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-467	–	-0.08%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-30,808	–	-0.08%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.08%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-8,000	–	-0.08%	–
AMZN	Exit	AMAZON.COM	$0	–	-535	–	-0.09%	–
ORCL	Exit	ORACLE CORP	$0	–	-11,355	–	-0.09%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-12,600	–	-0.09%	–
MMP	Exit	MAGELLAN	$0	–	-8,900	–	-0.11%	–
WPZ	Exit	WILLIAMS PARTNERS	$0	–	-16,407	–	-0.11%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-3,995	–	-0.11%	–
WES	Exit	WESTERN GAS	$0	–	-12,975	–	-0.11%	–
X	Exit	US STEEL CORP	$0	–	-26,550	–	-0.12%	–
HLT	Exit	HILTON WORLDWIDE	$0	–	-9,950	–	-0.12%	–
VTR	Exit	VENTAS INC.	$0	–	-10,800	–	-0.12%	–
CCI	Exit	CROWN CASTLE INT'L	$0	–	-7,027	–	-0.12%	–
KKR	Exit	KOHLBERG KRAVIS	$0	–	-34,750	–	-0.12%	–
AVB	Exit	AVALONBAY	$0	–	-4,073	–	-0.12%	–
HPQ	Exit	HEWLETT-PACKARD	$0	–	-38,650	–	-0.13%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-8,600	–	-0.13%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.13%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-803	–	-0.13%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.13%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-59,200	–	-0.14%	–
TWTR	Exit	TWITTER INC	$0	–	-50,150	–	-0.14%	–
AIG	Exit	AMER INT'L GROUP	$0	–	-13,700	–	-0.14%	–
APC	Exit	ANADARKO PETRO	$0	–	-17,975	–	-0.15%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-29,250	–	-0.15%	–
	Exit	CELGENE CORP	$0	–	-6,050	–	-0.15%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-28,321	–	-0.19%	–
T	Exit	AT&T	$0	–	-30,069	–	-0.20%	–
LW	Exit	LAMB WESTON	$0	–	-25,400	–	-0.20%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-7,375	–	-0.23%	–
AGN	Exit	ALLERGAN INC.	$0	–	-6,825	–	-0.24%	–
IBM	Exit	IBM CORPORATION	$0	–	-10,092	–	-0.25%	–
HAL	Exit	HALLIBURTON CO	$0	–	-32,830	–	-0.25%	–
VAR	Exit	VARIAN MEDICAL SYS	$0	–	-16,000	–	-0.27%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-66,453	–	-0.27%	–
TRGP	Exit	TARGA CORP	$0	–	-34,395	–	-0.27%	–
CRM	Exit	SALESFORCE.COM	$0	–	-18,288	–	-0.29%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-32,951	–	-0.30%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-23,450	–	-0.36%	–
BX	Exit	BLACKSTONE	$0	–	-66,450	–	-0.37%	–
ETP	Exit	ENRGY TRNSFR PRT	$0	–	-121,488	–	-0.37%	–
WBA	Exit	WALGREEN CO	$0	–	-29,280	–	-0.38%	–
WMT	Exit	WAL-MART STORES	$0	–	-29,768	–	-0.39%	–
AA	Exit	ALCOA	$0	–	-55,450	–	-0.44%	–
GIS	Exit	GENERAL MILLS INC	$0	–	-56,020	–	-0.49%	–
VNO	Exit	VORNADO RLTY	$0	–	-38,409	–	-0.50%	–
L100PS	Exit	ARCONIC INC	$0	–	-125,000	–	-0.52%	–
YHOO	Exit	WEYERHAEUSER	$0	–	-110,757	–	-0.63%	–
KMI	Exit	KINDER MORGAN	$0	–	-209,859	–	-0.68%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-92,809	–	-0.68%	–
NUE	Exit	NUCOR CORP	$0	–	-76,950	–	-0.73%	–
	Exit	BRITISH AMERICAN	$0	–	-70,500	–	-0.74%	–
INTC	Exit	INTEL CORPORATION	$0	–	-117,341	–	-0.75%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-93,870	–	-0.79%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-48,829	–	-0.81%	–
UTX	Exit	UNITED TECH	$0	–	-43,489	–	-0.85%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-81,706	–	-0.88%	–
GS	Exit	GOLDMAN SACHS	$0	–	-22,870	–	-0.91%	–
FB	Exit	FACEBOOK, INC.	$0	–	-32,379	–	-0.93%	–
VZ	Exit	VERIZON COMM	$0	–	-113,837	–	-0.95%	–
MAR	Exit	MARRIOTT INTL	$0	–	-51,100	–	-0.95%	–
MON	Exit	MONSANTO	$0	–	-47,275	–	-0.95%	–
RTN	Exit	RAYTHEON	$0	–	-31,325	–	-0.98%	–
IP	Exit	INTL PAPER	$0	–	-106,170	–	-1.02%	–
CONE	Exit	CYRUSONE INC	$0	–	-103,980	–	-1.03%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-116,441	–	-1.05%	–
HD	Exit	HOME DEPOT INC	$0	–	-38,358	–	-1.06%	–
MS	Exit	MORGAN STANLEY	$0	–	-131,100	–	-1.06%	–
PFE	Exit	PFIZER INC	$0	–	-179,742	–	-1.08%	–
PF	Exit	PINNACLE FOODS	$0	–	-113,517	–	-1.09%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-81,400	–	-1.12%	–
UNP	Exit	UNION PACIFIC	$0	–	-57,985	–	-1.13%	–
CAT	Exit	CATERPILLAR	$0	–	-55,000	–	-1.16%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-124,742	–	-1.16%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-282,164	–	-1.24%	–
PEP	Exit	PEPSICO INC	$0	–	-67,120	–	-1.26%	–
AMT	Exit	AMERICAN TOWER	$0	–	-54,758	–	-1.26%	–
PM	Exit	PHILIP MORRIS INTL	$0	–	-67,490	–	-1.26%	–
CMCSA	Exit	COMCAST CL A	$0	–	-195,556	–	-1.27%	–
RIO	Exit	RIO TINTO	$0	–	-159,788	–	-1.27%	–
RDSA	Exit	RYL DTCH SHELL	$0	–	-126,645	–	-1.29%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-91,032	–	-1.31%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-25,185	–	-1.32%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-60,640	–	-1.33%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-125,231	–	-1.34%	–
MRK	Exit	MERCK & CO INC	$0	–	-128,892	–	-1.39%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-111,817	–	-1.40%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-126,906	–	-1.48%	–
MMM	Exit	3M COMPANY	$0	–	-43,327	–	-1.53%	–
CVX	Exit	CHEVRON CORP	$0	–	-77,898	–	-1.54%	–
C	Exit	CITIGROUP INC	$0	–	-129,614	–	-1.59%	–
HON	Exit	HONEYWELL INTL	$0	–	-67,475	–	-1.61%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-1.65%	–
BAC	Exit	BANK OF AMERICA	$0	–	-442,175	–	-1.89%	–
V	Exit	VISA INC CL A	$0	–	-106,857	–	-1.89%	–
ABBV	Exit	ABBVIE INC.	$0	–	-135,803	–	-2.03%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-127,316	–	-2.05%	–
BA	Exit	BOEING	$0	–	-50,033	–	-2.14%	–
PLD	Exit	PROLOGIS	$0	–	-209,481	–	-2.24%	–
NVDA	Exit	NVIDIA CORP	$0	–	-77,540	–	-2.33%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-299,927	–	-2.63%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-101,876	–	-2.64%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-184,942	–	-2.83%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,591,350	–	-14.73%	–

Q3 2017

			Value		Shares		↓ Weighting
QUOT	Sell	QUOTIENT TECH.	$87,505,000	+34.3%	5,591,350	-1.3%	14.73%	+28.3%
PG	Buy	PROCTER & GAMBLE	$16,826,000	+5.5%	184,942	+1.1%	2.83%	+0.8%
AAPL	Buy	APPLE COMPUTER	$15,701,000	+8.1%	101,876	+1.0%	2.64%	+3.3%
AMAT	Sell	APPLIED MATERIALS	$15,623,000	+22.3%	299,927	-3.0%	2.63%	+16.9%
NVDA	Buy	NVIDIA CORP	$13,862,000	+24.4%	77,540	+0.6%	2.33%	+18.8%
PLD	Buy	PROLOGIS	$13,294,000	+8.3%	209,481	+0.0%	2.24%	+3.5%
BA	Sell	BOEING	$12,719,000	+28.0%	50,033	-0.4%	2.14%	+22.3%
JPM	Buy	JP MORGAN CHASE	$12,160,000	+6.0%	127,316	+1.5%	2.05%	+1.3%
ABBV	Buy	ABBVIE INC.	$12,067,000	+23.0%	135,803	+0.4%	2.03%	+17.5%
V	Buy	VISA INC CL A	$11,246,000	+15.6%	106,857	+3.0%	1.89%	+10.4%
BAC	Buy	BANK OF AMERICA	$11,205,000	+6.3%	442,175	+1.8%	1.89%	+1.6%
HON	Buy	HONEYWELL INTL	$9,564,000	+8.1%	67,475	+1.7%	1.61%	+3.3%
C	Buy	CITIGROUP INC	$9,428,000	+10.8%	129,614	+1.9%	1.59%	+5.9%
CVX	Sell	CHEVRON CORP	$9,153,000	+9.6%	77,898	-2.7%	1.54%	+4.8%
MMM	Buy	3M COMPANY	$9,094,000	+0.9%	43,327	+0.1%	1.53%	-3.5%
DWDP	New	DOWDUPONT INC	$8,786,000	–	126,906	–	1.48%	–
MSFT	Buy	MICROSOFT CORP	$8,329,000	+25.7%	111,817	+16.3%	1.40%	+20.1%
MRK	Buy	MERCK & CO INC	$8,253,000	+0.2%	128,892	+0.3%	1.39%	-4.2%
MO	Sell	ALTRIA GROUP INC	$7,942,000	-14.9%	125,231	-0.1%	1.34%	-18.6%
JNJ	Buy	JOHN. & JOHN.	$7,884,000	-1.5%	60,640	+0.2%	1.33%	-5.9%
LMT	Buy	LOCKHEED MARTIN	$7,815,000	+15.1%	25,185	+3.0%	1.32%	+10.0%
LLY	Sell	LILLY, ELI & CO	$7,787,000	+1.5%	91,032	-2.4%	1.31%	-3.0%
RDSA	Sell	RYL DTCH SHELL	$7,672,000	+11.9%	126,645	-1.8%	1.29%	+6.9%
RIO	Buy	RIO TINTO	$7,540,000	+12.0%	159,788	+0.4%	1.27%	+7.0%
CMCSA	Buy	COMCAST CL A	$7,525,000	-1.0%	195,556	+0.2%	1.27%	-5.3%
PM	Buy	PHILIP MORRIS INTL	$7,492,000	-5.1%	67,490	+0.4%	1.26%	-9.3%
AMT	Buy	AMERICAN TOWER	$7,484,000	+3.3%	54,758	+0.0%	1.26%	-1.3%
PEP	Sell	PEPSICO INC	$7,479,000	-3.8%	67,120	-0.3%	1.26%	-8.0%
EPD	Sell	ENTERPRISE PRODS	$7,356,000	-3.9%	282,164	-0.2%	1.24%	-8.2%
WFC	Sell	WELLS FARGO & CO	$6,880,000	-19.0%	124,742	-18.6%	1.16%	-22.5%
CAT	Buy	CATERPILLAR	$6,859,000	+16.5%	55,000	+0.4%	1.16%	+11.4%
UNP	Sell	UNION PACIFIC	$6,725,000	+6.4%	57,985	-0.1%	1.13%	+1.7%
PF	Sell	PINNACLE FOODS	$6,490,000	-8.8%	113,517	-5.3%	1.09%	-12.9%
PFE	Buy	PFIZER INC	$6,417,000	+7.0%	179,742	+0.6%	1.08%	+2.2%
HD	Buy	HOME DEPOT INC	$6,274,000	+6.6%	38,358	+0.0%	1.06%	+1.9%
ABT	Buy	ABBOTT LABS COM	$6,213,000	+14.8%	116,441	+4.6%	1.05%	+9.8%
CONE	Sell	CYRUSONE INC	$6,128,000	-4.9%	103,980	-10.0%	1.03%	-9.1%
IP	Sell	INTL PAPER	$6,033,000	+0.3%	106,170	-0.0%	1.02%	-4.1%
RTN	Buy	RAYTHEON	$5,845,000	+17.1%	31,325	+1.4%	0.98%	+11.9%
MON	Sell	MONSANTO	$5,664,000	+1.0%	47,275	-0.2%	0.95%	-3.5%
VZ	Sell	VERIZON COMM	$5,634,000	+10.0%	113,837	-0.7%	0.95%	+5.1%
FB	Buy	FACEBOOK, INC.	$5,533,000	+15.0%	32,379	+1.6%	0.93%	+9.8%
GS	Buy	GOLDMAN SACHS	$5,425,000	+91.8%	22,870	+79.4%	0.91%	+83.3%
UTX	Buy	UNITED TECH	$5,048,000	-3.1%	43,489	+2.0%	0.85%	-7.3%
DIS	Sell	DISNEY, WALT CO	$4,813,000	-14.4%	48,829	-7.8%	0.81%	-18.3%
COP	Sell	CONOCOPHILLIPS	$4,698,000	+11.9%	93,870	-1.7%	0.79%	+6.9%
INTC	Sell	INTEL CORPORATION	$4,468,000	+7.2%	117,341	-5.0%	0.75%	+2.5%
	New	BRITISH AMERICAN	$4,403,000	–	70,500	–	0.74%	–
NUE	Buy	NUCOR CORP	$4,312,000	-2.5%	76,950	+0.7%	0.73%	-6.8%
SCHW	Buy	CHARLES SCHWAB	$4,059,000	+65.1%	92,809	+62.2%	0.68%	+57.7%
KMI	Buy	KINDER MORGAN	$4,025,000	+24.8%	209,859	+24.7%	0.68%	+19.4%
YHOO	Buy	WEYERHAEUSER	$3,769,000	+2.6%	110,757	+1.0%	0.63%	-2.0%
AA	Buy	ALCOA	$2,585,000	+44.1%	55,450	+0.9%	0.44%	+37.7%
WMT	Buy	WAL-MART STORES	$2,326,000	+3.3%	29,768	+0.0%	0.39%	-1.3%
WBA	Sell	WALGREEN CO	$2,261,000	-8.8%	29,280	-7.5%	0.38%	-12.8%
ETP	Sell	ENRGY TRNSFR PRT	$2,222,000	-38.0%	121,488	-30.9%	0.37%	-40.7%
BX	Sell	BLACKSTONE	$2,217,000	-0.4%	66,450	-0.4%	0.37%	-4.8%
SBUX	Sell	STARBUCKS CORP	$1,770,000	-8.3%	32,951	-0.5%	0.30%	-12.4%
CRM	Buy	SALESFORCE.COM	$1,708,000	+16.7%	18,288	+8.3%	0.29%	+11.6%
TRGP	Buy	TARGA CORP	$1,627,000	+4.7%	34,395	+0.0%	0.27%	0.0%
GE	Sell	GENERAL ELECTRIC	$1,607,000	-13.6%	66,453	-3.4%	0.27%	-17.1%
HAL	Sell	HALLIBURTON CO	$1,511,000	+6.1%	32,830	-1.5%	0.25%	+1.2%
IBM	Sell	IBM CORPORATION	$1,464,000	-77.1%	10,092	-75.7%	0.25%	-78.1%
AGN	Sell	ALLERGAN INC.	$1,399,000	-31.5%	6,825	-18.7%	0.24%	-34.5%
LRCX	Sell	LAM RESEARCH CORP	$1,365,000	+21.8%	7,375	-6.9%	0.23%	+16.8%
LW	Sell	LAMB WESTON	$1,191,000	+5.1%	25,400	-1.3%	0.20%	0.0%
T	Buy	AT&T	$1,178,000	+13.3%	30,069	+9.1%	0.20%	+8.2%
MDLZ	Sell	MONDELEZ INTL	$1,152,000	-19.6%	28,321	-14.6%	0.19%	-23.0%
APC	Sell	ANADARKO PETRO	$878,000	-6.5%	17,975	-13.2%	0.15%	-10.3%
	Buy	CELGENE CORP	$882,000	+41.6%	6,050	+26.0%	0.15%	+34.5%
WMB	Buy	WILLIAMS COS INC	$878,000	+2.3%	29,250	+3.3%	0.15%	-2.0%
AIG	Sell	AMER INT'L GROUP	$841,000	-14.4%	13,700	-12.7%	0.14%	-17.9%
TWTR	Sell	TWITTER INC	$846,000	-10.6%	50,150	-5.3%	0.14%	-15.0%
FCX	Buy	FREEPORT MCMORAN	$831,000	+48.1%	59,200	+26.8%	0.14%	+41.4%
GOOGL	Buy	ALPHABET CLASS A	$782,000	+20.5%	803	+15.0%	0.13%	+15.8%
HPQ	Buy	HEWLETT-PACKARD	$771,000	+41.5%	38,650	+24.1%	0.13%	+35.4%
CCI	Buy	CROWN CASTLE INT'L	$703,000	+10.9%	7,027	+11.1%	0.12%	+5.4%
HLT	New	HILTON WORLDWIDE	$691,000	–	9,950	–	0.12%	–
X	Buy	US STEEL CORP	$681,000	+57.6%	26,550	+36.2%	0.12%	+51.3%
WES	Sell	WESTERN GAS	$665,000	-15.0%	12,975	-7.2%	0.11%	-18.8%
WPZ	Sell	WILLIAMS PARTNERS	$638,000	-3.6%	16,407	-0.6%	0.11%	-8.5%
MMP	Buy	MAGELLAN	$632,000	+12.3%	8,900	+12.7%	0.11%	+7.1%
ACC	Buy	AMERICAN CAMPUS	$556,000	+1.3%	12,600	+8.6%	0.09%	-3.1%
AMZN	Buy	AMAZON.COM	$514,000	+4.0%	535	+4.9%	0.09%	0.0%
CVA	Sell	COVANTA HLDG CORP	$458,000	-0.7%	30,808	-11.9%	0.08%	-4.9%
KEY	New	KEYCORP	$442,000	–	23,500	–	0.07%	–
HPE	Sell	HEWLETT-PACKARD ENT	$377,000	-12.9%	25,600	-1.9%	0.06%	-17.1%
APA	Sell	APACHE CORP	$347,000	-27.7%	7,575	-24.4%	0.06%	-31.8%
ET	Sell	ENRGY TRNSFR EQU	$292,000	-7.0%	16,800	-4.0%	0.05%	-10.9%
FLO	Sell	FLOWERS FOODS	$282,000	-18.5%	15,000	-25.0%	0.05%	-23.0%
COST	Buy	COSTCO WHOLESALE	$268,000	+20.2%	1,633	+17.2%	0.04%	+15.4%
DXC	Sell	DXC TECHNOLOGY	$223,000	+9.9%	2,600	-1.6%	0.04%	+5.6%
PYPL	New	PAYPAL	$205,000	–	3,200	–	0.04%	–
ENBL	Sell	ENABLE MIDSTREAM	$197,000	-2.0%	12,350	-2.0%	0.03%	-5.7%
FEYE	New	FIRE EYE, INC	$178,000	–	10,600	–	0.03%	–
JCPNQ	Buy	JC PENNEY	$106,000	-4.5%	27,900	+16.7%	0.02%	-10.0%
	Exit	VANGUARD CA LONG	$0	–	-10,430	–	-0.02%	–
RHHBY	Exit	ROCHE HLDGS LTD	$0	–	-6,430	–	-0.04%	–
	Exit	VANGUARD 500 INDEX	$0	–	-963	–	-0.04%	–
	Exit	VANGUARD CA INT	$0	–	-24,286	–	-0.05%	–
	Exit	VANGUARD WELL FUND	$0	–	-8,392	–	-0.06%	–
MU	Exit	MICRON TECHNOLOGY	$0	–	-14,300	–	-0.08%	–
A104PS	Exit	HILTON WORLDWIDE	$0	–	-9,950	–	-0.11%	–
RHI	Exit	ROBERT HALF INTL	$0	–	-15,000	–	-0.13%	–
	Exit	VANGUARD INDX TR	$0	–	-4,357	–	-0.17%	–
SBAC	Exit	SBA COMMUNICATIONS	$0	–	-10,775	–	-0.26%	–
DD	Exit	DU PONT EI DE NMRS	$0	–	-21,920	–	-0.31%	–
BGS	Exit	B&G FOODS INC	$0	–	-63,434	–	-0.40%	–
KHC	Exit	KRAFT HEINZ CO.	$0	–	-47,950	–	-0.72%	–
DOW	Exit	DOW CHEMICAL	$0	–	-116,152	–	-1.29%	–
LUMN	Exit	CENTURYLINK	$0	–	-309,483	–	-1.30%	–
RAI	Exit	REYNOLDS AMER.	$0	–	-116,700	–	-1.34%	–

Q2 2017

			Value		Shares		↓ Weighting
QUOT	New	QUOTIENT TECH.	$65,165,000	–	5,666,550	–	11.48%	–
PG	New	PROCTER & GAMBLE	$15,950,000	–	183,013	–	2.81%	–
AAPL	New	APPLE COMPUTER	$14,530,000	–	100,889	–	2.56%	–
AMAT	New	APPLIED MATERIALS	$12,777,000	–	309,285	–	2.25%	–
PLD	New	PROLOGIS	$12,280,000	–	209,410	–	2.16%	–
JPM	New	JP MORGAN CHASE	$11,470,000	–	125,494	–	2.02%	–
NVDA	New	NVIDIA CORP	$11,144,000	–	77,090	–	1.96%	–
BAC	New	BANK OF AMERICA	$10,536,000	–	434,275	–	1.86%	–
BA	New	BOEING	$9,933,000	–	50,232	–	1.75%	–
ABBV	New	ABBVIE INC.	$9,813,000	–	135,327	–	1.73%	–
V	New	VISA INC CL A	$9,730,000	–	103,757	–	1.71%	–
FRC	New	FIRST REPUBLIC	$9,409,000	–	94,000	–	1.66%	–
MO	New	ALTRIA GROUP INC	$9,331,000	–	125,299	–	1.64%	–
MMM	New	3M COMPANY	$9,013,000	–	43,290	–	1.59%	–
HON	New	HONEYWELL INTL	$8,845,000	–	66,358	–	1.56%	–
C	New	CITIGROUP INC	$8,510,000	–	127,238	–	1.50%	–
WFC	New	WELLS FARGO & CO	$8,489,000	–	153,207	–	1.50%	–
CVX	New	CHEVRON CORP	$8,351,000	–	80,041	–	1.47%	–
MRK	New	MERCK & CO INC	$8,235,000	–	128,487	–	1.45%	–
JNJ	New	JOHN. & JOHN.	$8,004,000	–	60,501	–	1.41%	–
PM	New	PHILIP MORRIS INTL	$7,893,000	–	67,207	–	1.39%	–
PEP	New	PEPSICO INC	$7,772,000	–	67,293	–	1.37%	–
LLY	New	LILLY, ELI & CO	$7,674,000	–	93,248	–	1.35%	–
EPD	New	ENTERPRISE PRODS	$7,658,000	–	282,789	–	1.35%	–
CMCSA	New	COMCAST CL A	$7,599,000	–	195,256	–	1.34%	–
RAI	New	REYNOLDS AMER.	$7,590,000	–	116,700	–	1.34%	–
LUMN	New	CENTURYLINK	$7,390,000	–	309,483	–	1.30%	–
DOW	New	DOW CHEMICAL	$7,326,000	–	116,152	–	1.29%	–
AMT	New	AMERICAN TOWER	$7,243,000	–	54,738	–	1.28%	–
PF	New	PINNACLE FOODS	$7,117,000	–	119,820	–	1.25%	–
RDSA	New	RYL DTCH SHELL	$6,857,000	–	128,915	–	1.21%	–
LMT	New	LOCKHEED MARTIN	$6,789,000	–	24,455	–	1.20%	–
RIO	New	RIO TINTO	$6,734,000	–	159,160	–	1.19%	–
MSFT	New	MICROSOFT CORP	$6,628,000	–	96,160	–	1.17%	–
XOM	New	EXXON MOBIL CORP	$6,571,000	–	81,400	–	1.16%	–
CONE	New	CYRUSONE INC	$6,444,000	–	115,580	–	1.14%	–
IBM	New	IBM CORPORATION	$6,390,000	–	41,537	–	1.12%	–
UNP	New	UNION PACIFIC	$6,322,000	–	58,045	–	1.11%	–
IP	New	INTL PAPER	$6,013,000	–	106,218	–	1.06%	–
PFE	New	PFIZER INC	$6,000,000	–	178,618	–	1.06%	–
CAT	New	CATERPILLAR	$5,889,000	–	54,800	–	1.04%	–
HD	New	HOME DEPOT INC	$5,883,000	–	38,351	–	1.04%	–
MS	New	MORGAN STANLEY	$5,842,000	–	131,100	–	1.03%	–
DIS	New	DISNEY, WALT CO	$5,625,000	–	52,942	–	0.99%	–
MON	New	MONSANTO	$5,607,000	–	47,375	–	0.99%	–
ABT	New	ABBOTT LABS COM	$5,411,000	–	111,310	–	0.95%	–
UTX	New	UNITED TECH	$5,207,000	–	42,639	–	0.92%	–
MAR	New	MARRIOTT INTL	$5,126,000	–	51,100	–	0.90%	–
VZ	New	VERIZON COMM	$5,120,000	–	114,634	–	0.90%	–
RTN	New	RAYTHEON	$4,990,000	–	30,900	–	0.88%	–
FB	New	FACEBOOK, INC.	$4,813,000	–	31,879	–	0.85%	–
BMY	New	BRISTOL-MYERS	$4,553,000	–	81,706	–	0.80%	–
NUE	New	NUCOR CORP	$4,424,000	–	76,450	–	0.78%	–
COP	New	CONOCOPHILLIPS	$4,199,000	–	95,518	–	0.74%	–
INTC	New	INTEL CORPORATION	$4,169,000	–	123,566	–	0.73%	–
KHC	New	KRAFT HEINZ CO.	$4,106,000	–	47,950	–	0.72%	–
YHOO	New	WEYERHAEUSER	$3,674,000	–	109,680	–	0.65%	–
VNO	New	VORNADO RLTY	$3,607,000	–	38,409	–	0.64%	–
ETP	New	ENRGY TRNSFR PRT	$3,584,000	–	175,788	–	0.63%	–
KMI	New	KINDER MORGAN	$3,226,000	–	168,351	–	0.57%	–
GIS	New	GENERAL MILLS INC	$3,104,000	–	56,020	–	0.55%	–
L100PS	New	ARCONIC INC	$2,831,000	–	125,000	–	0.50%	–
GS	New	GOLDMAN SACHS	$2,828,000	–	12,745	–	0.50%	–
WBA	New	WALGREEN CO	$2,479,000	–	31,655	–	0.44%	–
SCHW	New	CHARLES SCHWAB	$2,458,000	–	57,208	–	0.43%	–
BGS	New	B&G FOODS INC	$2,258,000	–	63,434	–	0.40%	–
WMT	New	WAL-MART STORES	$2,252,000	–	29,763	–	0.40%	–
BX	New	BLACKSTONE	$2,226,000	–	66,750	–	0.39%	–
AGN	New	ALLERGAN INC.	$2,041,000	–	8,395	–	0.36%	–
AXP	New	AMERICAN EXPRESS	$1,975,000	–	23,450	–	0.35%	–
SBUX	New	STARBUCKS CORP	$1,930,000	–	33,101	–	0.34%	–
GE	New	GENERAL ELECTRIC	$1,859,000	–	68,826	–	0.33%	–
AA	New	ALCOA	$1,794,000	–	54,950	–	0.32%	–
DD	New	DU PONT EI DE NMRS	$1,769,000	–	21,920	–	0.31%	–
VAR	New	VARIAN MEDICAL SYS	$1,651,000	–	16,000	–	0.29%	–
TRGP	New	TARGA CORP	$1,554,000	–	34,380	–	0.27%	–
CRM	New	SALESFORCE.COM	$1,463,000	–	16,888	–	0.26%	–
SBAC	New	SBA COMMUNICATIONS	$1,454,000	–	10,775	–	0.26%	–
MDLZ	New	MONDELEZ INTL	$1,432,000	–	33,145	–	0.25%	–
HAL	New	HALLIBURTON CO	$1,424,000	–	33,330	–	0.25%	–
LW	New	LAMB WESTON	$1,133,000	–	25,725	–	0.20%	–
LRCX	New	LAM RESEARCH CORP	$1,121,000	–	7,925	–	0.20%	–
T	New	AT&T	$1,040,000	–	27,565	–	0.18%	–
AIG	New	AMER INT'L GROUP	$982,000	–	15,700	–	0.17%	–
	New	VANGUARD INDX TR	$975,000	–	4,357	–	0.17%	–
TWTR	New	TWITTER INC	$946,000	–	52,950	–	0.17%	–
APC	New	ANADARKO PETRO	$939,000	–	20,700	–	0.16%	–
WMB	New	WILLIAMS COS INC	$858,000	–	28,325	–	0.15%	–
CLX	New	CLOROX COMPANY	$799,000	–	6,000	–	0.14%	–
WES	New	WESTERN GAS	$782,000	–	13,975	–	0.14%	–
AVB	New	AVALONBAY	$783,000	–	4,073	–	0.14%	–
VTR	New	VENTAS INC.	$750,000	–	10,800	–	0.13%	–
CPT	New	CAMDEN PROPERTY	$735,000	–	8,600	–	0.13%	–
RHI	New	ROBERT HALF INTL	$719,000	–	15,000	–	0.13%	–
WPZ	New	WILLIAMS PARTNERS	$662,000	–	16,513	–	0.12%	–
GOOGL	New	ALPHABET CLASS A	$649,000	–	698	–	0.11%	–
KKR	New	KOHLBERG KRAVIS	$646,000	–	34,750	–	0.11%	–
SPG	New	SIMON PPTY GRP INC	$646,000	–	3,995	–	0.11%	–
CCI	New	CROWN CASTLE INT'L	$634,000	–	6,326	–	0.11%	–
	New	CELGENE CORP	$623,000	–	4,800	–	0.11%	–
A104PS	New	HILTON WORLDWIDE	$615,000	–	9,950	–	0.11%	–
GPS	New	GAP INC	$585,000	–	26,600	–	0.10%	–
ORCL	New	ORACLE CORP	$569,000	–	11,355	–	0.10%	–
FCX	New	FREEPORT MCMORAN	$561,000	–	46,700	–	0.10%	–
MMP	New	MAGELLAN	$563,000	–	7,900	–	0.10%	–
ACC	New	AMERICAN CAMPUS	$549,000	–	11,600	–	0.10%	–
HPQ	New	HEWLETT-PACKARD	$545,000	–	31,150	–	0.10%	–
ESRX	New	EXPRESS SCRIPTS	$511,000	–	8,000	–	0.09%	–
AMZN	New	AMAZON.COM	$494,000	–	510	–	0.09%	–
APA	New	APACHE CORP	$480,000	–	10,025	–	0.08%	–
BEN	New	FRANKLIN RES	$484,000	–	10,800	–	0.08%	–
CVA	New	COVANTA HLDG CORP	$461,000	–	34,950	–	0.08%	–
X	New	US STEEL CORP	$432,000	–	19,500	–	0.08%	–
HPE	New	HEWLETT-PACKARD ENT	$433,000	–	26,100	–	0.08%	–
MU	New	MICRON TECHNOLOGY	$427,000	–	14,300	–	0.08%	–
GOOG	New	ALPHABET CLASS C	$424,000	–	467	–	0.08%	–
NSRGY	New	NESTLE SA	$387,000	–	4,437	–	0.07%	–
MAC	New	MACERICH CO	$374,000	–	6,436	–	0.07%	–
GILD	New	GILEAD SCIENCES INC	$368,000	–	5,200	–	0.06%	–
FLO	New	FLOWERS FOODS	$346,000	–	20,000	–	0.06%	–
	New	VANGUARD WELL FUND	$344,000	–	8,392	–	0.06%	–
	New	REGENCY CENTERS	$338,000	–	5,400	–	0.06%	–
STZ	New	CONSTELLATION	$320,000	–	1,650	–	0.06%	–
ET	New	ENRGY TRNSFR EQU	$314,000	–	17,500	–	0.06%	–
	New	VANGUARD CA INT	$286,000	–	24,286	–	0.05%	–
HEP	New	HOLLY ENERGY	$279,000	–	8,600	–	0.05%	–
AL	New	AIR LEASE CORP	$263,000	–	7,050	–	0.05%	–
EQM	New	EQT MIDSTREAM	$246,000	–	3,300	–	0.04%	–
TRP	New	TRANSCANADA CORP	$238,000	–	5,000	–	0.04%	–
COST	New	COSTCO WHOLESALE	$223,000	–	1,393	–	0.04%	–
	New	VANGUARD 500 INDEX	$216,000	–	963	–	0.04%	–
VREX	New	VAREX IMAGING	$216,000	–	6,400	–	0.04%	–
DXC	New	DXC TECHNOLOGY	$203,000	–	2,642	–	0.04%	–
RHHBY	New	ROCHE HLDGS LTD	$204,000	–	6,430	–	0.04%	–
ENBL	New	ENABLE MIDSTREAM	$201,000	–	12,600	–	0.04%	–
	New	COMM BK BAY OAKLAND CA	$151,000	–	30,000	–	0.03%	–
	New	VANGUARD CA LONG	$126,000	–	10,430	–	0.02%	–
JCPNQ	New	JC PENNEY	$111,000	–	23,900	–	0.02%	–
AINV	New	APOLLO INVESTMENT	$64,000	–	10,000	–	0.01%	–
CLNE	New	CLEAN ENRGY FUEL	$27,000	–	10,500	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
CLNE	Exit	CLEAN ENRGY FUEL	$0	–	-10,000	–	-0.01%	–
AINV	Exit	APOLLO INVESTMENT	$0	–	-10,000	–	-0.01%	–
	Exit	VANGUARD CA LONG	$0	–	-10,175	–	-0.02%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.03%	–
FORD	Exit	FORD MOTOR CO	$0	–	-12,900	–	-0.03%	–
NFLX	Exit	NETFLIX INC	$0	–	-2,098	–	-0.04%	–
STZ	Exit	CONSTELLATION	$0	–	-1,300	–	-0.04%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-20,300	–	-0.04%	–
SVNT	Exit	SEVENTY SEVEN ENERGY	$0	–	-11,629	–	-0.04%	–
BABA	Exit	ALIBABA GROUP	$0	–	-2,100	–	-0.04%	–
SJM	Exit	SMUCKER CO	$0	–	-1,750	–	-0.04%	–
PAA	Exit	PLAINS ALL AM	$0	–	-7,600	–	-0.04%	–
EQM	Exit	EQT MIDSTREAM	$0	–	-3,450	–	-0.05%	–
ENBL	Exit	ENABLE MIDSTREAM	$0	–	-17,300	–	-0.05%	–
	Exit	VANGUARD CA INT	$0	–	-23,821	–	-0.05%	–
HEP	Exit	HOLLY ENERGY	$0	–	-8,600	–	-0.06%	–
NVDA	Exit	NVIDIA CORP	$0	–	-4,275	–	-0.06%	–
JCPNQ	Exit	JC PENNEY	$0	–	-32,500	–	-0.06%	–
FLO	Exit	FLOWERS FOODS	$0	–	-20,000	–	-0.06%	–
GOOG	Exit	ALPHABET CLASS C	$0	–	-406	–	-0.06%	–
	Exit	VANGUARD WELL FUND	$0	–	-8,080	–	-0.06%	–
ET	Exit	ENRGY TRNSFR EQU	$0	–	-21,350	–	-0.07%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.07%	–
GMGMQ	Exit	GEN MOTORS CORP	$0	–	-12,800	–	-0.08%	–
DIS	Exit	DISNEY, WALT CO	$0	–	-4,337	–	-0.08%	–
RHHBY	Exit	ROCHE HLDGS LTD	$0	–	-13,405	–	-0.08%	–
	Exit	REGENCY CENTERS	$0	–	-5,400	–	-0.08%	–
SHLX	Exit	SHELL MIDSTREAM	$0	–	-13,410	–	-0.08%	–
ORCL	Exit	ORACLE CORP	$0	–	-11,355	–	-0.08%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-567	–	-0.09%	–
HPQ	Exit	HEWLETT-PACKARD	$0	–	-29,950	–	-0.09%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-10,000	–	-0.09%	–
MAC	Exit	MACERICH CO	$0	–	-6,436	–	-0.10%	–
MMP	Exit	MAGELLAN	$0	–	-8,200	–	-0.11%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-11,600	–	-0.11%	–
HPE	Exit	HEWLETT-PACKARD ENT	$0	–	-26,100	–	-0.11%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.11%	–
APA	Exit	APACHE CORP	$0	–	-9,250	–	-0.11%	–
HRL	Exit	HORMEL FOODS	$0	–	-17,090	–	-0.12%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-45,079	–	-0.13%	–
CAG	Exit	CONAGRA	$0	–	-14,800	–	-0.13%	–
CPT	Exit	CAMDEN PROPERTY	$0	–	-8,600	–	-0.14%	–
KMI	Exit	KINDER MORGAN INC.	$0	–	-31,910	–	-0.14%	–
AVB	Exit	AVALONBAY	$0	–	-4,135	–	-0.14%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-8,025	–	-0.14%	–
WPZ	Exit	WILLIAMS PARTNERS	$0	–	-20,772	–	-0.14%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,225	–	-0.15%	–
SCHW	Exit	SCHWAB, CHARLES	$0	–	-25,343	–	-0.15%	–
AIG	Exit	AMER INT'L GROUP	$0	–	-13,700	–	-0.15%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-3,995	–	-0.16%	–
	Exit	VANGUARD INDX TR	$0	–	-4,357	–	-0.16%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-31,000	–	-0.18%	–
SBAC	Exit	SBA COMMUNICATIONS	$0	–	-8,925	–	-0.19%	–
KKR	Exit	KOHLBERG KRAVIS	$0	–	-73,972	–	-0.20%	–
CRM	Exit	SALESFORCE.COM	$0	–	-15,113	–	-0.20%	–
VTR	Exit	VENTAS INC.	$0	–	-17,000	–	-0.22%	–
WES	Exit	WESTERN GAS	$0	–	-22,300	–	-0.23%	–
TWTR	Exit	TWITTER INC	$0	–	-54,250	–	-0.24%	–
A104PS	Exit	HILTON WORLDWIDE	$0	–	-55,640	–	-0.24%	–
AGN	Exit	ALLERGAN INC.	$0	–	-6,250	–	-0.27%	–
DD	Exit	DU PONT EI DE NMRS	$0	–	-21,920	–	-0.28%	–
HAL	Exit	HALLIBURTON CO	$0	–	-33,330	–	-0.28%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-23,435	–	-0.28%	–
APC	Exit	ANADARKO PETRO	$0	–	-25,175	–	-0.30%	–
VAR	Exit	VARIAN MEDICAL SYS	$0	–	-16,000	–	-0.30%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-31,006	–	-0.32%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-39,042	–	-0.32%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-25,925	–	-0.34%	–
TRGP	Exit	TARGA CORP	$0	–	-41,054	–	-0.38%	–
BGS	Exit	B&G FOODS INC	$0	–	-43,600	–	-0.40%	–
ETP	Exit	ENRGY TRNSFR PRT	$0	–	-69,775	–	-0.48%	–
RHI	Exit	ROBERT HALF INTL	$0	–	-70,000	–	-0.50%	–
WBA	Exit	WALGREEN CO	$0	–	-34,318	–	-0.52%	–
FB	Exit	FACEBOOK, INC.	$0	–	-25,655	–	-0.62%	–
MAR	Exit	MARRIOTT INTL	$0	–	-51,300	–	-0.65%	–
GIS	Exit	GENERAL MILLS INC	$0	–	-56,020	–	-0.67%	–
UN	Exit	UNILEVER NV	$0	–	-79,150	–	-0.68%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-86,242	–	-0.70%	–
NUE	Exit	NUCOR CORP	$0	–	-76,100	–	-0.71%	–
NSRGY	Exit	NESTLE SA	$0	–	-47,662	–	-0.71%	–
UTX	Exit	UNITED TECH	$0	–	-37,528	–	-0.72%	–
VNO	Exit	VORNADO RLTY	$0	–	-38,409	–	-0.73%	–
WMT	Exit	WAL-MART STORES	$0	–	-54,702	–	-0.74%	–
OXY	Exit	OCCIDENTAL PET	$0	–	-54,422	–	-0.74%	–
BX	Exit	BLACKSTONE	$0	–	-162,675	–	-0.78%	–
AA	Exit	ALCOA INC	$0	–	-412,400	–	-0.78%	–
MS	Exit	MORGAN STANLEY	$0	–	-130,900	–	-0.79%	–
KHC	Exit	KRAFT HEINZ CO.	$0	–	-48,305	–	-0.81%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-76,951	–	-0.83%	–
MON	Exit	MONSANTO	$0	–	-44,100	–	-0.85%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-114,250	–	-0.91%	–
CAT	Exit	CATERPILLAR	$0	–	-55,300	–	-0.92%	–
YHOO	Exit	WEYERHAEUSER	$0	–	-168,094	–	-1.01%	–
DOW	Exit	DOW CHEMICAL	$0	–	-105,675	–	-1.03%	–
UNP	Exit	UNION PACIFIC	$0	–	-56,490	–	-1.03%	–
C	Exit	CITIGROUP INC	$0	–	-121,311	–	-1.08%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-113,289	–	-1.15%	–
CMCSA	Exit	COMCAST CL A	$0	–	-96,128	–	-1.20%	–
PM	Exit	PHILIP MORRIS INTL	$0	–	-66,628	–	-1.22%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-99,665	–	-1.24%	–
BA	Exit	BOEING	$0	–	-51,064	–	-1.26%	–
T	Exit	AT&T	$0	–	-168,472	–	-1.28%	–
RDSA	Exit	RYL DTCH SHELL	$0	–	-138,565	–	-1.30%	–
INTC	Exit	INTEL CORPORATION	$0	–	-187,335	–	-1.33%	–
FRC	Exit	FIRST REPUBLIC	$0	–	-94,000	–	-1.36%	–
RAI	Exit	REYNOLDS AMER.	$0	–	-154,182	–	-1.36%	–
IBM	Exit	IBM CORPORATION	$0	–	-45,794	–	-1.36%	–
NWL	Exit	NEWELL RBRMD.	$0	–	-140,850	–	-1.39%	–
HD	Exit	HOME DEPOT INC	$0	–	-58,602	–	-1.42%	–
HON	Exit	HONEYWELL INTL	$0	–	-64,730	–	-1.42%	–
MMM	Exit	3M COMPANY	$0	–	-43,290	–	-1.43%	–
IP	Exit	INTL PAPER	$0	–	-159,152	–	-1.43%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-276,889	–	-1.44%	–
PEP	Exit	PEPSICO INC	$0	–	-71,740	–	-1.46%	–
MRK	Exit	MERCK & CO INC	$0	–	-125,568	–	-1.47%	–
PF	Exit	PINNACLE FOODS	$0	–	-157,130	–	-1.48%	–
VZ	Exit	VERIZON COMM	$0	–	-152,795	–	-1.49%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-33,205	–	-1.49%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-92,500	–	-1.52%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-128,046	–	-1.52%	–
PFE	Exit	PFIZER INC	$0	–	-243,646	–	-1.55%	–
CVX	Exit	CHEVRON CORP	$0	–	-80,489	–	-1.55%	–
V	Exit	VISA INC CL A	$0	–	-100,505	–	-1.56%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-188,802	–	-1.57%	–
ABBV	Exit	ABBVIE INC.	$0	–	-134,500	–	-1.59%	–
JNJ	Exit	JOHN. & JOHN.	$0	–	-75,610	–	-1.68%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-111,439	–	-1.68%	–
BAC	Exit	BANK OF AMERICA	$0	–	-575,125	–	-1.69%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-301,850	–	-1.71%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-329,675	–	-1.83%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-91,824	–	-1.95%	–
PLD	Exit	PROLOGIS	$0	–	-209,380	–	-2.10%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-183,575	–	-3.09%	–
QUOT	Exit	QUOTIENT TECH.	$0	–	-5,622,250	–	-14.04%	–

Q3 2016

			Value		Shares		↓ Weighting
QUOT	Buy	QUOTIENT TECH.	$74,832,000	-0.6%	5,622,250	+0.1%	14.04%	-1.5%
PG	Sell	PROCTER & GAMBLE	$16,476,000	+5.2%	183,575	-0.8%	3.09%	+4.3%
PLD	Sell	PROLOGIS	$11,210,000	+6.6%	209,380	-2.3%	2.10%	+5.7%
AAPL	Buy	APPLE COMPUTER	$10,381,000	+24.9%	91,824	+5.6%	1.95%	+23.9%
GE	Sell	GENERAL ELECTRIC	$9,765,000	-6.3%	329,675	-0.4%	1.83%	-7.1%
AMAT	Sell	APPLIED MATERIALS	$9,101,000	+9.6%	301,850	-12.9%	1.71%	+8.7%
BAC	Sell	BANK OF AMERICA	$9,001,000	-3.3%	575,125	-18.0%	1.69%	-4.1%
LLY	Sell	LILLY, ELI & CO	$8,944,000	+1.6%	111,439	-0.3%	1.68%	+0.8%
JNJ	Sell	JOHN. & JOHN.	$8,932,000	-2.7%	75,610	-0.1%	1.68%	-3.5%
ABBV	Buy	ABBVIE INC.	$8,483,000	+2.6%	134,500	+0.7%	1.59%	+1.7%
WFC	Buy	WELLS FARGO & CO	$8,360,000	+4.9%	188,802	+12.2%	1.57%	+4.0%
V	Sell	VISA INC CL A	$8,312,000	+10.6%	100,505	-0.8%	1.56%	+9.7%
CVX	Sell	CHEVRON CORP	$8,284,000	-2.5%	80,489	-0.7%	1.55%	-3.4%
PFE	Sell	PFIZER INC	$8,252,000	-5.0%	243,646	-1.2%	1.55%	-5.8%
MO	Sell	ALTRIA GROUP INC	$8,096,000	-9.6%	128,046	-1.4%	1.52%	-10.3%
LMT	Sell	LOCKHEED MARTIN	$7,960,000	-6.1%	33,205	-2.8%	1.49%	-6.9%
VZ	Sell	VERIZON COMM	$7,942,000	-7.1%	152,795	-0.2%	1.49%	-7.9%
PF	Sell	PINNACLE FOODS	$7,883,000	+7.1%	157,130	-1.1%	1.48%	+6.2%
MRK	Sell	MERCK & CO INC	$7,837,000	+4.8%	125,568	-3.3%	1.47%	+3.9%
PEP	Sell	PEPSICO INC	$7,803,000	+1.8%	71,740	-0.9%	1.46%	+1.0%
EPD	Sell	ENTERPRISE PRODS	$7,650,000	-5.9%	276,889	-0.3%	1.44%	-6.6%
IP	Sell	INTL PAPER	$7,636,000	+8.7%	159,152	-4.0%	1.43%	+7.9%
MMM	Sell	3M COMPANY	$7,629,000	+0.4%	43,290	-0.2%	1.43%	-0.4%
HON	Sell	HONEYWELL INTL	$7,547,000	-0.7%	64,730	-1.0%	1.42%	-1.5%
HD	Sell	HOME DEPOT INC	$7,541,000	+0.7%	58,602	-0.1%	1.42%	-0.1%
NWL	Buy	NEWELL RBRMD.	$7,417,000	+11.5%	140,850	+2.8%	1.39%	+10.5%
IBM	Sell	IBM CORPORATION	$7,274,000	+2.4%	45,794	-2.1%	1.36%	+1.6%
RAI	Sell	REYNOLDS AMER.	$7,270,000	-14.3%	154,182	-2.0%	1.36%	-15.1%
INTC	Sell	INTEL CORPORATION	$7,072,000	+14.5%	187,335	-0.5%	1.33%	+13.6%
RDSA	Sell	RYL DTCH SHELL	$6,938,000	-10.6%	138,565	-1.4%	1.30%	-11.3%
T	Buy	AT&T	$6,842,000	-5.6%	168,472	+0.4%	1.28%	-6.3%
BA	Sell	BOEING	$6,727,000	-0.1%	51,064	-1.5%	1.26%	-0.9%
JPM	Sell	JP MORGAN CHASE	$6,637,000	+6.6%	99,665	-0.5%	1.24%	+5.8%
PM	Buy	PHILIP MORRIS INTL	$6,478,000	+33.7%	66,628	+39.9%	1.22%	+32.6%
CMCSA	Sell	COMCAST CL A	$6,377,000	+0.8%	96,128	-0.9%	1.20%	-0.1%
BMY	Buy	BRISTOL-MYERS	$6,109,000	-26.3%	113,289	+0.5%	1.15%	-27.0%
C	Sell	CITIGROUP INC	$5,730,000	+6.4%	121,311	-4.5%	1.08%	+5.5%
UNP	Sell	UNION PACIFIC	$5,509,000	+10.6%	56,490	-1.1%	1.03%	+9.8%
DOW	Buy	DOW CHEMICAL	$5,477,000	+4.6%	105,675	+0.3%	1.03%	+3.7%
YHOO	Sell	WEYERHAEUSER	$5,369,000	+6.8%	168,094	-0.4%	1.01%	+5.9%
ABT	Buy	ABBOTT LABS COM	$4,832,000	+9.6%	114,250	+1.9%	0.91%	+8.8%
MON	Buy	MONSANTO	$4,507,000	+8.7%	44,100	+10.0%	0.85%	+7.9%
MSFT	Buy	MICROSOFT CORP	$4,432,000	+13.4%	76,951	+0.7%	0.83%	+12.4%
KHC	Sell	KRAFT HEINZ CO.	$4,324,000	-1.5%	48,305	-2.6%	0.81%	-2.3%
AA	Buy	ALCOA INC	$4,182,000	+12.2%	412,400	+2.6%	0.78%	+11.3%
BX	Sell	BLACKSTONE	$4,153,000	-1.4%	162,675	-5.2%	0.78%	-2.3%
OXY	Sell	OCCIDENTAL PET	$3,968,000	-3.7%	54,422	-0.2%	0.74%	-4.5%
WMT	Buy	WAL-MART STORES	$3,945,000	-1.2%	54,702	+0.0%	0.74%	-2.1%
UTX	Sell	UNITED TECH	$3,813,000	-1.7%	37,528	-0.8%	0.72%	-2.6%
NSRGY	Buy	NESTLE SA	$3,766,000	+3.7%	47,662	+1.5%	0.71%	+2.9%
COP	Buy	CONOCOPHILLIPS	$3,749,000	+1.4%	86,242	+1.7%	0.70%	+0.6%
FB	Buy	FACEBOOK, INC.	$3,291,000	+23.7%	25,655	+10.2%	0.62%	+22.7%
WBA	Buy	WALGREEN CO	$2,767,000	+1.8%	34,318	+5.1%	0.52%	+1.0%
ETP	Buy	ENRGY TRNSFR PRT	$2,582,000	-0.3%	69,775	+2.5%	0.48%	-1.2%
BGS	Sell	B&G FOODS INC	$2,144,000	-40.2%	43,600	-41.4%	0.40%	-40.7%
TRGP	Sell	TARGA CORP	$2,016,000	-1.9%	41,054	-15.8%	0.38%	-2.8%
ESRX	Sell	EXPRESS SCRIPTS	$1,828,000	-12.2%	25,925	-5.6%	0.34%	-12.9%
MDLZ	Sell	MONDELEZ INTL	$1,714,000	-9.6%	39,042	-6.2%	0.32%	-10.1%
SBUX	Buy	STARBUCKS CORP	$1,679,000	-2.6%	31,006	+2.7%	0.32%	-3.4%
APC	Buy	ANADARKO PETRO	$1,595,000	+22.9%	25,175	+3.3%	0.30%	+21.5%
HAL	Sell	HALLIBURTON CO	$1,496,000	-3.4%	33,330	-2.5%	0.28%	-4.1%
AGN	Buy	ALLERGAN INC.	$1,439,000	+21.5%	6,250	+22.0%	0.27%	+20.5%
A104PS	Sell	HILTON WORLDWIDE	$1,276,000	0.0%	55,640	-1.8%	0.24%	-0.8%
TWTR	Buy	TWITTER INC	$1,250,000	+79.6%	54,250	+31.8%	0.24%	+78.0%
WES	Buy	WESTERN GAS	$1,228,000	+11.9%	22,300	+2.4%	0.23%	+10.6%
VTR	Buy	VENTAS INC.	$1,201,000	-1.2%	17,000	+1.8%	0.22%	-2.2%
CRM	Buy	SALESFORCE.COM	$1,078,000	+97.8%	15,113	+120.2%	0.20%	+96.1%
KKR	Sell	KOHLBERG KRAVIS	$1,055,000	-21.7%	73,972	-32.2%	0.20%	-22.4%
SBAC	Buy	SBA COMMUNICATIONS	$1,001,000	+4.2%	8,925	+0.3%	0.19%	+3.3%
WMB	Buy	WILLIAMS COS INC	$953,000	+44.4%	31,000	+1.6%	0.18%	+43.2%
SCHW	Buy	SCHWAB, CHARLES	$800,000	+29.0%	25,343	+3.5%	0.15%	+28.2%
CLX	Sell	CLOROX COMPANY	$779,000	-22.1%	6,225	-13.8%	0.15%	-22.8%
WPZ	Sell	WILLIAMS PARTNERS	$773,000	-12.7%	20,772	-18.7%	0.14%	-13.2%
LRCX	Sell	LAM RESEARCH CORP	$760,000	+9.7%	8,025	-2.7%	0.14%	+9.2%
KMI	Buy	KINDER MORGAN INC.	$738,000	+50.9%	31,910	+22.2%	0.14%	+48.4%
CAG	Sell	CONAGRA	$697,000	-16.2%	14,800	-14.9%	0.13%	-16.6%
CVA	Buy	COVANTA HLDG CORP	$694,000	+4.7%	45,079	+11.8%	0.13%	+4.0%
HRL	Buy	HORMEL FOODS	$648,000	+20.9%	17,090	+16.7%	0.12%	+20.8%
APA	Buy	APACHE CORP	$591,000	+17.7%	9,250	+2.5%	0.11%	+16.8%
MMP	Buy	MAGELLAN	$580,000	-5.2%	8,200	+1.9%	0.11%	-6.0%
HPQ	Buy	HEWLETT-PACKARD	$465,000	+28.1%	29,950	+3.6%	0.09%	+26.1%
GOOGL	Buy	ALPHABET CLASS A	$456,000	+16.3%	567	+1.8%	0.09%	+16.2%
SHLX	Sell	SHELL MIDSTREAM	$430,000	-26.0%	13,410	-22.0%	0.08%	-26.4%
RHHBY	Sell	ROCHE HLDGS LTD	$415,000	-16.0%	13,405	-10.7%	0.08%	-16.1%
DIS	Buy	DISNEY, WALT CO	$403,000	+63.8%	4,337	+72.7%	0.08%	+61.7%
GMGMQ	Sell	GEN MOTORS CORP	$407,000	-7.3%	12,800	-17.4%	0.08%	-8.4%
ET	Buy	ENRGY TRNSFR EQU	$358,000	+24.7%	21,350	+6.8%	0.07%	+24.1%
	Buy	VANGUARD WELL FUND	$314,000	+2.6%	8,080	+0.6%	0.06%	+1.7%
JCPNQ	Buy	JC PENNEY	$300,000	+84.0%	32,500	+76.6%	0.06%	+80.6%
NVDA	New	NVIDIA CORP	$293,000	–	4,275	–	0.06%	–
	Buy	VANGUARD CA INT	$287,000	-0.3%	23,821	+0.6%	0.05%	0.0%
ENBL	Buy	ENABLE MIDSTREAM	$264,000	+18.9%	17,300	+5.2%	0.05%	+19.0%
SJM	New	SMUCKER CO	$237,000	–	1,750	–	0.04%	–
BABA	New	ALIBABA GROUP	$222,000	–	2,100	–	0.04%	–
SVNT	New	SEVENTY SEVEN ENERGY	$219,000	–	11,629	–	0.04%	–
FCX	Buy	FREEPORT MCMORAN	$220,000	+14.0%	20,300	+17.3%	0.04%	+10.8%
STZ	New	CONSTELLATION	$216,000	–	1,300	–	0.04%	–
NFLX	New	NETFLIX INC	$207,000	–	2,098	–	0.04%	–
FORD	New	FORD MOTOR CO	$156,000	–	12,900	–	0.03%	–
	Buy	VANGUARD CA LONG	$127,000	-0.8%	10,175	+0.8%	0.02%	0.0%
KMB	Exit	KIMBERLY CLARK	$0	–	-1,463	–	-0.04%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-1,368	–	-0.04%	–
UE	Exit	URBAN EDGE PROP.	$0	–	-8,000	–	-0.04%	–
WWAV	Exit	WHITEWAVE FOOD CO	$0	–	-13,950	–	-0.12%	–
BRKB	Exit	BERKSHIRE HATH.	$0	–	-25,281	–	-0.69%	–

Q2 2016

			Value		Shares		↓ Weighting
QUOT	New	QUOTIENT TECH.	$75,310,000	–	5,615,950	–	14.25%	–
PG	New	PROCTER & GAMBLE	$15,662,000	–	184,974	–	2.96%	–
PLD	New	PROLOGIS	$10,513,000	–	214,380	–	1.99%	–
GE	New	GENERAL ELECTRIC	$10,420,000	–	331,003	–	1.97%	–
BAC	New	BANK OF AMERICA	$9,309,000	–	701,520	–	1.76%	–
JNJ	New	JOHN. & JOHN.	$9,180,000	–	75,678	–	1.74%	–
MO	New	ALTRIA GROUP INC	$8,951,000	–	129,805	–	1.69%	–
LLY	New	LILLY, ELI & CO	$8,799,000	–	111,731	–	1.66%	–
PFE	New	PFIZER INC	$8,683,000	–	246,619	–	1.64%	–
XOM	New	EXXON MOBIL CORP	$8,671,000	–	92,500	–	1.64%	–
VZ	New	VERIZON COMM	$8,553,000	–	153,168	–	1.62%	–
CVX	New	CHEVRON CORP	$8,500,000	–	81,081	–	1.61%	–
RAI	New	REYNOLDS AMER.	$8,487,000	–	157,379	–	1.61%	–
LMT	New	LOCKHEED MARTIN	$8,476,000	–	34,155	–	1.60%	–
AAPL	New	APPLE COMPUTER	$8,310,000	–	86,927	–	1.57%	–
AMAT	New	APPLIED MATERIALS	$8,306,000	–	346,500	–	1.57%	–
BMY	New	BRISTOL-MYERS	$8,294,000	–	112,762	–	1.57%	–
ABBV	New	ABBVIE INC.	$8,267,000	–	133,525	–	1.56%	–
EPD	New	ENTERPRISE PRODS	$8,127,000	–	277,739	–	1.54%	–
WFC	New	WELLS FARGO & CO	$7,966,000	–	168,302	–	1.51%	–
RDSA	New	RYL DTCH SHELL	$7,759,000	–	140,515	–	1.47%	–
PEP	New	PEPSICO INC	$7,666,000	–	72,363	–	1.45%	–
HON	New	HONEYWELL INTL	$7,602,000	–	65,355	–	1.44%	–
MMM	New	3M COMPANY	$7,598,000	–	43,390	–	1.44%	–
V	New	VISA INC CL A	$7,514,000	–	101,304	–	1.42%	–
HD	New	HOME DEPOT INC	$7,488,000	–	58,645	–	1.42%	–
MRK	New	MERCK & CO INC	$7,479,000	–	129,816	–	1.42%	–
PF	New	PINNACLE FOODS	$7,357,000	–	158,928	–	1.39%	–
T	New	AT&T	$7,249,000	–	167,768	–	1.37%	–
IBM	New	IBM CORPORATION	$7,102,000	–	46,793	–	1.34%	–
IP	New	INTL PAPER	$7,022,000	–	165,700	–	1.33%	–
BA	New	BOEING	$6,732,000	–	51,838	–	1.27%	–
NWL	New	NEWELL RBRMD.	$6,653,000	–	136,975	–	1.26%	–
FRC	New	FIRST REPUBLIC	$6,579,000	–	94,000	–	1.24%	–
CMCSA	New	COMCAST CL A	$6,325,000	–	97,028	–	1.20%	–
JPM	New	JP MORGAN CHASE	$6,224,000	–	100,164	–	1.18%	–
INTC	New	INTEL CORPORATION	$6,174,000	–	188,235	–	1.17%	–
C	New	CITIGROUP INC	$5,386,000	–	127,061	–	1.02%	–
DOW	New	DOW CHEMICAL	$5,238,000	–	105,365	–	0.99%	–
YHOO	New	WEYERHAEUSER	$5,025,000	–	168,792	–	0.95%	–
UNP	New	UNION PACIFIC	$4,981,000	–	57,090	–	0.94%	–
PM	New	PHILIP MORRIS INTL	$4,844,000	–	47,620	–	0.92%	–
ABT	New	ABBOTT LABS COM	$4,408,000	–	112,125	–	0.83%	–
KHC	New	KRAFT HEINZ CO.	$4,389,000	–	49,605	–	0.83%	–
BX	New	BLACKSTONE	$4,212,000	–	171,625	–	0.80%	–
CAT	New	CATERPILLAR	$4,192,000	–	55,300	–	0.79%	–
MON	New	MONSANTO	$4,147,000	–	40,100	–	0.78%	–
OXY	New	OCCIDENTAL PET	$4,120,000	–	54,521	–	0.78%	–
GIS	New	GENERAL MILLS INC	$3,995,000	–	56,020	–	0.76%	–
WMT	New	WAL-MART STORES	$3,994,000	–	54,696	–	0.76%	–
MSFT	New	MICROSOFT CORP	$3,909,000	–	76,399	–	0.74%	–
UTX	New	UNITED TECH	$3,879,000	–	37,827	–	0.73%	–
VNO	New	VORNADO RLTY	$3,846,000	–	38,409	–	0.73%	–
NUE	New	NUCOR CORP	$3,760,000	–	76,100	–	0.71%	–
AA	New	ALCOA INC	$3,727,000	–	402,000	–	0.70%	–
UN	New	UNILEVER NV	$3,715,000	–	79,150	–	0.70%	–
COP	New	CONOCOPHILLIPS	$3,696,000	–	84,766	–	0.70%	–
BRKB	New	BERKSHIRE HATH.	$3,660,000	–	25,281	–	0.69%	–
NSRGY	New	NESTLE SA	$3,631,000	–	46,962	–	0.69%	–
BGS	New	B&G FOODS INC	$3,584,000	–	74,350	–	0.68%	–
MAR	New	MARRIOTT INTL	$3,409,000	–	51,300	–	0.64%	–
MS	New	MORGAN STANLEY	$3,401,000	–	130,900	–	0.64%	–
WBA	New	WALGREEN CO	$2,718,000	–	32,642	–	0.51%	–
RHI	New	ROBERT HALF INTL	$2,671,000	–	70,000	–	0.50%	–
FB	New	FACEBOOK, INC.	$2,660,000	–	23,280	–	0.50%	–
ETP	New	ENRGY TRNSFR PRT	$2,591,000	–	68,055	–	0.49%	–
ESRX	New	EXPRESS SCRIPTS	$2,083,000	–	27,475	–	0.39%	–
TRGP	New	TARGA CORP	$2,054,000	–	48,732	–	0.39%	–
MDLZ	New	MONDELEZ INTL	$1,895,000	–	41,641	–	0.36%	–
SBUX	New	STARBUCKS CORP	$1,724,000	–	30,181	–	0.33%	–
HAL	New	HALLIBURTON CO	$1,548,000	–	34,180	–	0.29%	–
AXP	New	AMERICAN EXPRESS	$1,424,000	–	23,435	–	0.27%	–
DD	New	DU PONT EI DE NMRS	$1,420,000	–	21,920	–	0.27%	–
KKR	New	KOHLBERG KRAVIS	$1,347,000	–	109,122	–	0.26%	–
VAR	New	VARIAN MEDICAL SYS	$1,316,000	–	16,000	–	0.25%	–
APC	New	ANADARKO PETRO	$1,298,000	–	24,375	–	0.25%	–
A104PS	New	HILTON WORLDWIDE	$1,276,000	–	56,640	–	0.24%	–
VTR	New	VENTAS INC.	$1,216,000	–	16,700	–	0.23%	–
AGN	New	ALLERGAN INC.	$1,184,000	–	5,125	–	0.22%	–
WES	New	WESTERN GAS	$1,097,000	–	21,775	–	0.21%	–
CLX	New	CLOROX COMPANY	$1,000,000	–	7,225	–	0.19%	–
SBAC	New	SBA COMMUNICATIONS	$961,000	–	8,900	–	0.18%	–
WPZ	New	WILLIAMS PARTNERS	$885,000	–	25,553	–	0.17%	–
SPG	New	SIMON PPTY GRP INC	$867,000	–	3,995	–	0.16%	–
	New	VANGUARD INDX TR	$844,000	–	4,357	–	0.16%	–
CAG	New	CONAGRA	$832,000	–	17,400	–	0.16%	–
CPT	New	CAMDEN PROPERTY	$760,000	–	8,600	–	0.14%	–
AVB	New	AVALONBAY	$746,000	–	4,135	–	0.14%	–
AIG	New	AMER INT'L GROUP	$725,000	–	13,700	–	0.14%	–
TWTR	New	TWITTER INC	$696,000	–	41,150	–	0.13%	–
LRCX	New	LAM RESEARCH CORP	$693,000	–	8,250	–	0.13%	–
CVA	New	COVANTA HLDG CORP	$663,000	–	40,323	–	0.12%	–
WMB	New	WILLIAMS COS INC	$660,000	–	30,500	–	0.12%	–
WWAV	New	WHITEWAVE FOOD CO	$655,000	–	13,950	–	0.12%	–
SCHW	New	SCHWAB, CHARLES	$620,000	–	24,493	–	0.12%	–
ACC	New	AMERICAN CAMPUS	$613,000	–	11,600	–	0.12%	–
MMP	New	MAGELLAN	$612,000	–	8,050	–	0.12%	–
SHLX	New	SHELL MIDSTREAM	$581,000	–	17,185	–	0.11%	–
GPS	New	GAP INC	$564,000	–	26,600	–	0.11%	–
MAC	New	MACERICH CO	$550,000	–	6,436	–	0.10%	–
CRM	New	SALESFORCE.COM	$545,000	–	6,863	–	0.10%	–
HRL	New	HORMEL FOODS	$536,000	–	14,640	–	0.10%	–
APA	New	APACHE CORP	$502,000	–	9,025	–	0.10%	–
KMI	New	KINDER MORGAN INC.	$489,000	–	26,103	–	0.09%	–
RHHBY	New	ROCHE HLDGS LTD	$494,000	–	15,005	–	0.09%	–
HPE	New	HEWLETT-PACKARD ENT	$477,000	–	26,100	–	0.09%	–
ORCL	New	ORACLE CORP	$465,000	–	11,355	–	0.09%	–
	New	REGENCY CENTERS	$452,000	–	5,400	–	0.09%	–
TRP	New	TRANSCANADA CORP	$452,000	–	10,000	–	0.09%	–
GMGMQ	New	GEN MOTORS CORP	$439,000	–	15,500	–	0.08%	–
GOOGL	New	ALPHABET CLASS A	$392,000	–	557	–	0.07%	–
FLO	New	FLOWERS FOODS	$375,000	–	20,000	–	0.07%	–
HPQ	New	HEWLETT-PACKARD	$363,000	–	28,898	–	0.07%	–
BEN	New	FRANKLIN RES	$360,000	–	10,800	–	0.07%	–
	New	VANGUARD WELL FUND	$306,000	–	8,028	–	0.06%	–
HEP	New	HOLLY ENERGY	$298,000	–	8,600	–	0.06%	–
	New	VANGUARD CA INT	$288,000	–	23,673	–	0.05%	–
ET	New	ENRGY TRNSFR EQU	$287,000	–	20,000	–	0.05%	–
GOOG	New	ALPHABET CLASS C	$281,000	–	406	–	0.05%	–
EQM	New	EQT MIDSTREAM	$277,000	–	3,450	–	0.05%	–
DIS	New	DISNEY, WALT CO	$246,000	–	2,512	–	0.05%	–
UE	New	URBAN EDGE PROP.	$239,000	–	8,000	–	0.04%	–
ENBL	New	ENABLE MIDSTREAM	$222,000	–	16,450	–	0.04%	–
COST	New	COSTCO WHOLESALE	$215,000	–	1,368	–	0.04%	–
PAA	New	PLAINS ALL AM	$209,000	–	7,600	–	0.04%	–
KMB	New	KIMBERLY CLARK	$201,000	–	1,463	–	0.04%	–
FCX	New	FREEPORT MCMORAN	$193,000	–	17,300	–	0.04%	–
JCPNQ	New	JC PENNEY	$163,000	–	18,400	–	0.03%	–
	New	COMM BK BAY OAKLAND CA	$131,000	–	30,000	–	0.02%	–
	New	VANGUARD CA LONG	$128,000	–	10,093	–	0.02%	–
AINV	New	APOLLO INVESTMENT	$55,000	–	10,000	–	0.01%	–
CLNE	New	CLEAN ENRGY FUEL	$35,000	–	10,000	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
AINV	Exit	APOLLO INVESTMENT	$0	–	-10,000	–	-0.01%	–
SDRL	Exit	SEADRILL LTD	$0	–	-10,000	–	-0.01%	–
JCPNQ	Exit	PENNEY J C INC COM	$0	–	-10,000	–	-0.02%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.03%	–
HEP	Exit	HOLLY ENERGY	$0	–	-8,600	–	-0.05%	–
EQM	Exit	EQT MIDSTREAM	$0	–	-3,950	–	-0.06%	–
	Exit	VANGUARD CA INT	$0	–	-23,212	–	-0.06%	–
HYH	Exit	HALYARD HEALTH INC	$0	–	-10,450	–	-0.06%	–
CCP	Exit	CARE CAPITAL PROP	$0	–	-9,036	–	-0.06%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-10,441	–	-0.07%	–
	Exit	REGENCY CENTERS	$0	–	-5,400	–	-0.07%	–
	Exit	VANGUARD WELL FUND	$0	–	-9,364	–	-0.07%	–
	Exit	DFA US CORE EQUITY I	$0	–	-20,945	–	-0.07%	–
CRM	Exit	SALESFORCE.COM	$0	–	-5,738	–	-0.08%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.08%	–
CMI	Exit	CUMMINS INC	$0	–	-3,705	–	-0.08%	–
ENBL	Exit	ENABLE MIDSTREAM	$0	–	-31,841	–	-0.08%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-11,600	–	-0.09%	–
APA	Exit	APACHE CORP	$0	–	-11,450	–	-0.10%	–
MAC	Exit	MACERICH CO	$0	–	-6,159	–	-0.10%	–
FLO	Exit	FLOWERS FOODS	$0	–	-20,000	–	-0.10%	–
HIG	Exit	HARTFORD FINANCIAL	$0	–	-11,030	–	-0.11%	–
SHLX	Exit	SHELL MIDSTREAM PR	$0	–	-17,400	–	-0.11%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-8,675	–	-0.12%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-14,250	–	-0.12%	–
MMP	Exit	MAGELLAN	$0	–	-10,050	–	-0.13%	–
WWAV	Exit	WHITEWAVE FOOD CO	$0	–	-15,150	–	-0.13%	–
CPT	Exit	CAMDEN PROPERTY TR	$0	–	-8,600	–	-0.14%	–
GMGMQ	Exit	GEN MOTORS CORP	$0	–	-21,436	–	-0.14%	–
HPQ	Exit	HEWLETT-PACKARD CO	$0	–	-26,100	–	-0.14%	–
ORCL	Exit	ORACLE CORP	$0	–	-18,655	–	-0.14%	–
AGN	Exit	ALLERGAN INC.	$0	–	-2,510	–	-0.14%	–
OXY	Exit	OCCIDENTAL PETROL	$0	–	-10,308	–	-0.14%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.15%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-3,820	–	-0.15%	–
AVB	Exit	AVALONBAY	$0	–	-4,135	–	-0.15%	–
WES	Exit	WESTERN GAS	$0	–	-15,578	–	-0.16%	–
GPS	Exit	GAP INC	$0	–	-26,600	–	-0.16%	–
SCHW	Exit	SCHWAB, CHARLES	$0	–	-26,543	–	-0.16%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-44,557	–	-0.16%	–
	Exit	VANGUARD INDX TR	$0	–	-4,512	–	-0.17%	–
APC	Exit	ANADARKO PETRO	$0	–	-13,725	–	-0.18%	–
HAIN	Exit	HAIN CELESTIAL GRP	$0	–	-16,875	–	-0.18%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-24,808	–	-0.19%	–
VTR	Exit	VENTAS INC.	$0	–	-16,850	–	-0.20%	–
NRF	Exit	NORTHSTAR RLTY	$0	–	-80,000	–	-0.21%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-102,575	–	-0.21%	–
WPZ	Exit	WILLIAMS PARTNERS	$0	–	-32,082	–	-0.22%	–
CAT	Exit	CATERPILLAR	$0	–	-16,220	–	-0.22%	–
TWTR	Exit	TWITTER INC	$0	–	-39,750	–	-0.23%	–
SBAC	Exit	SBA COMMUNICATIONS	$0	–	-10,500	–	-0.23%	–
GME	Exit	GAMESTOP CORP	$0	–	-27,151	–	-0.24%	–
PAGP	Exit	PLAINS GP HLDGS	$0	–	-65,270	–	-0.24%	–
PAA	Exit	PLAINS ALL AM	$0	–	-38,435	–	-0.25%	–
NSAM	Exit	NORTHSTAR MGMT	$0	–	-90,000	–	-0.27%	–
KMI	Exit	KINDER MORGAN INC.	$0	–	-47,661	–	-0.28%	–
IBM	Exit	IBM CORPORATION	$0	–	-10,428	–	-0.32%	–
NGLS	Exit	TARGA RESOURCES	$0	–	-52,385	–	-0.32%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-63,600	–	-0.35%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-66,828	–	-0.36%	–
HAL	Exit	HALLIBURTON CO	$0	–	-47,905	–	-0.36%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-23,385	–	-0.37%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-33,836	–	-0.41%	–
A104PS	Exit	HILTON WORLDWIDE	$0	–	-84,940	–	-0.41%	–
ETP	Exit	ENERGY TRANSFER	$0	–	-48,721	–	-0.42%	–
FB	Exit	FACEBOOK, INC.	$0	–	-26,940	–	-0.51%	–
SNY	Exit	SANOFI-AVENTIS	$0	–	-52,215	–	-0.53%	–
ESRX	Exit	EXPRESS SCRIPTS INC	$0	–	-33,475	–	-0.58%	–
MON	Exit	MONSANTO	$0	–	-31,975	–	-0.58%	–
PYPL	Exit	PAYPAL	$0	–	-92,300	–	-0.61%	–
WMT	Exit	WAL-MART STORES	$0	–	-44,574	–	-0.61%	–
WBA	Exit	WALGREEN CO	$0	–	-34,851	–	-0.62%	–
EAT	Exit	BRINKER INTL INC	$0	–	-55,175	–	-0.62%	–
UTX	Exit	UNITED TECH	$0	–	-33,181	–	-0.63%	–
BGS	Exit	B&G FOODS INC	$0	–	-81,690	–	-0.63%	–
NUE	Exit	NUCOR CORP	$0	–	-79,515	–	-0.63%	–
GIS	Exit	GENERAL MILLS INC	$0	–	-56,020	–	-0.67%	–
VNO	Exit	VORNADO RLTY	$0	–	-36,025	–	-0.69%	–
NSRGY	Exit	NESTLE SA	$0	–	-43,362	–	-0.69%	–
UN	Exit	UNILEVER NV	$0	–	-81,950	–	-0.70%	–
BRKB	Exit	BERKSHIRE HATH.	$0	–	-25,281	–	-0.70%	–
RHI	Exit	ROBERT HALF INTL	$0	–	-65,000	–	-0.71%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-76,392	–	-0.72%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-71,836	–	-0.73%	–
MAR	Exit	MARRIOTT INTL	$0	–	-51,300	–	-0.74%	–
HCP	Exit	HCP, INC.	$0	–	-95,750	–	-0.76%	–
PM	Exit	PHILIP MORRIS INTL	$0	–	-45,260	–	-0.76%	–
UE	Exit	URBAN EDGE PROP.	$0	–	-176,850	–	-0.81%	–
RHHBY	Exit	ROCHE HLDGS LTD	$0	–	-120,355	–	-0.84%	–
YHOO	Exit	WEYERHAEUSER	$0	–	-145,126	–	-0.84%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-46,250	–	-0.92%	–
ET	Exit	ENERGY TRANSFER EQU	$0	–	-209,708	–	-0.93%	–
MS	Exit	MORGAN STANLEY	$0	–	-141,425	–	-0.94%	–
UNP	Exit	UNION PACIFIC	$0	–	-51,190	–	-0.96%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-88,957	–	-0.97%	–
KKR	Exit	KOHLBERG KRAVIS	$0	–	-287,483	–	-1.02%	–
KEY	Exit	KEYCORP	$0	–	-376,634	–	-1.04%	–
DD	Exit	DU PONT EI DE NMRS	$0	–	-101,951	–	-1.04%	–
T	Exit	AT&T	$0	–	-151,115	–	-1.04%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-204,455	–	-1.08%	–
IP	Exit	INTL PAPER	$0	–	-137,606	–	-1.10%	–
CVX	Exit	CHEVRON CORP	$0	–	-67,320	–	-1.13%	–
DOW	Exit	DOW CHEMICAL	$0	–	-129,474	–	-1.16%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-132,417	–	-1.18%	–
CMCSA	Exit	COMCAST CL A	$0	–	-99,455	–	-1.20%	–
INTC	Exit	INTEL CORPORATION	$0	–	-190,875	–	-1.22%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-400,400	–	-1.25%	–
BX	Exit	BLACKSTONE GROUP LP	$0	–	-195,839	–	-1.32%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-102,256	–	-1.32%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-75,178	–	-1.34%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-85,700	–	-1.35%	–
RDSA	Exit	ROYAL DUTCH SHELL	$0	–	-134,400	–	-1.35%	–
MRK	Exit	MERCK & CO INC	$0	–	-129,614	–	-1.36%	–
HON	Exit	HONEYWELL INT'L INC	$0	–	-68,039	–	-1.37%	–
MMM	Exit	3M COMPANY	$0	–	-46,296	–	-1.39%	–
VZ	Exit	VERIZON COMM	$0	–	-151,049	–	-1.40%	–
FRC	Exit	FIRST REPUBLIC BANK	$0	–	-109,700	–	-1.46%	–
HD	Exit	HOME DEPOT INC	$0	–	-60,094	–	-1.47%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-117,510	–	-1.48%	–
PEP	Exit	PEPSICO INC	$0	–	-74,281	–	-1.49%	–
AIG	Exit	AMER INT'L GROUP	$0	–	-123,903	–	-1.49%	–
PFE	Exit	PFIZER INC	$0	–	-229,529	–	-1.53%	–
ABBV	Exit	ABBVIE INC.	$0	–	-134,979	–	-1.56%	–
V	Exit	VISA INC CL A	$0	–	-106,504	–	-1.57%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-136,777	–	-1.58%	–
C	Exit	CITIGROUP INC	$0	–	-152,051	–	-1.60%	–
PF	Exit	PINNACLE FOODS	$0	–	-184,128	–	-1.64%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-37,945	–	-1.67%	–
BA	Exit	BOEING	$0	–	-60,516	–	-1.68%	–
PLD	Exit	PROLOGIS	$0	–	-205,000	–	-1.69%	–
RAI	Exit	REYNOLDS AMERICAN	$0	–	-192,670	–	-1.81%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-87,167	–	-2.04%	–
BAC	Exit	BANK OF AMERICA	$0	–	-742,604	–	-2.46%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-187,184	–	-2.86%	–
COUP	Exit	COUPONS.COM	$0	–	-5,628,950	–	-10.75%	–

Q3 2015

			Value		Shares		↓ Weighting
PG	Sell	PROCTER & GAMBLE	$13,466,000	-19.5%	187,184	-12.5%	2.86%	-9.1%
BAC	Buy	BANK OF AMERICA	$11,570,000	-8.2%	742,604	+0.2%	2.46%	+3.6%
AAPL	Buy	APPLE COMPUTER	$9,615,000	-11.4%	87,167	+0.8%	2.04%	+0.1%
RAI	Buy	REYNOLDS AMERICAN	$8,530,000	+17.0%	192,670	+97.3%	1.81%	+32.2%
PLD	Sell	PROLOGIS	$7,974,000	+3.8%	205,000	-1.0%	1.69%	+17.3%
BA	Buy	BOEING	$7,925,000	-5.2%	60,516	+0.5%	1.68%	+7.1%
PF	Sell	PINNACLE FOODS	$7,711,000	-9.5%	184,128	-1.5%	1.64%	+2.2%
C	Buy	CITIGROUP INC	$7,543,000	-8.2%	152,051	+2.3%	1.60%	+3.8%
MO	Sell	ALTRIA GROUP INC	$7,441,000	+9.0%	136,777	-2.0%	1.58%	+23.1%
V	Sell	VISA INC CL A	$7,419,000	+2.4%	106,504	-1.3%	1.57%	+15.7%
ABBV	Sell	ABBVIE INC.	$7,344,000	-19.6%	134,979	-0.7%	1.56%	-9.2%
PFE	Buy	PFIZER INC	$7,209,000	-5.7%	229,529	+0.7%	1.53%	+6.5%
AIG	Sell	AMER INT'L GROUP	$7,040,000	-9.1%	123,903	-1.2%	1.49%	+2.6%
PEP	Buy	PEPSICO INC	$7,005,000	+2.4%	74,281	+1.4%	1.49%	+15.6%
BMY	Sell	BRISTOL-MYERS	$6,957,000	-13.0%	117,510	-2.2%	1.48%	-1.7%
HD	Buy	HOME DEPOT INC	$6,940,000	+3.9%	60,094	+0.0%	1.47%	+17.4%
VZ	Buy	VERIZON COMM	$6,572,000	-4.0%	151,049	+2.9%	1.40%	+8.5%
MMM	Sell	3M COMPANY	$6,563,000	-8.4%	46,296	-0.3%	1.39%	+3.5%
HON	Buy	HONEYWELL INT'L INC	$6,443,000	-1.7%	68,039	+5.9%	1.37%	+11.0%
MRK	Buy	MERCK & CO INC	$6,402,000	-10.5%	129,614	+3.1%	1.36%	+1.0%
XOM	Buy	EXXON MOBIL CORP	$6,372,000	+97.4%	85,700	+120.9%	1.35%	+123.1%
RDSA	Buy	ROYAL DUTCH SHELL	$6,369,000	+0.2%	134,400	+20.5%	1.35%	+13.1%
LLY	Buy	LILLY, ELI & CO	$6,292,000	+15.6%	75,178	+15.4%	1.34%	+30.6%
JPM	Sell	JP MORGAN CHASE	$6,235,000	-10.2%	102,256	-0.3%	1.32%	+1.4%
BX	Buy	BLACKSTONE GROUP LP	$6,202,000	-19.2%	195,839	+4.3%	1.32%	-8.7%
AMAT	Buy	APPLIED MATERIALS	$5,882,000	-21.5%	400,400	+2.7%	1.25%	-11.3%
INTC	Sell	INTEL CORPORATION	$5,753,000	-2.4%	190,875	-1.5%	1.22%	+10.2%
CMCSA	Sell	COMCAST CL A	$5,657,000	-6.1%	99,455	-0.7%	1.20%	+6.0%
MDLZ	Buy	MONDELEZ INTL	$5,544,000	+160.6%	132,417	+156.1%	1.18%	+194.0%
DOW	Buy	DOW CHEMICAL	$5,490,000	-16.3%	129,474	+1.0%	1.16%	-5.4%
CVX	Buy	CHEVRON CORP	$5,310,000	+93.9%	67,320	+137.2%	1.13%	+119.3%
IP	Sell	INTL PAPER	$5,200,000	-21.3%	137,606	-0.8%	1.10%	-11.1%
EPD	Sell	ENTERPRISE PRODS	$5,091,000	-17.8%	204,455	-1.3%	1.08%	-7.1%
T	Sell	AT&T	$4,923,000	-9.2%	151,115	-1.0%	1.04%	+2.7%
DD	Buy	DU PONT EI DE NMRS	$4,914,000	-22.0%	101,951	+3.4%	1.04%	-11.9%
KEY	Buy	KEYCORP	$4,900,000	-11.0%	376,634	+2.7%	1.04%	+0.5%
KKR	Buy	KOHLBERG KRAVIS	$4,824,000	-24.3%	287,483	+3.1%	1.02%	-14.5%
WFC	Sell	WELLS FARGO & CO	$4,568,000	-8.9%	88,957	-0.3%	0.97%	+2.8%
UNP	Sell	UNION PACIFIC	$4,526,000	-13.3%	51,190	-6.4%	0.96%	-2.0%
MS	Sell	MORGAN STANLEY	$4,455,000	-28.0%	141,425	-11.4%	0.94%	-18.7%
ET	Buy	ENERGY TRANSFER EQU	$4,364,000	-35.6%	209,708	+98.6%	0.93%	-27.3%
JNJ	Buy	JOHNSON & JOHNSON	$4,317,000	+0.2%	46,250	+4.6%	0.92%	+13.1%
YHOO	Sell	WEYERHAEUSER	$3,968,000	-13.9%	145,126	-0.7%	0.84%	-2.7%
RHHBY	Sell	ROCHE HLDGS LTD	$3,966,000	-6.2%	120,355	-0.2%	0.84%	+6.0%
UE	Sell	URBAN EDGE PROP.	$3,818,000	+2.2%	176,850	-1.6%	0.81%	+15.4%
PM	Buy	PHILIP MORRIS INTL	$3,591,000	+1.6%	45,260	+2.7%	0.76%	+14.8%
HCP	Sell	HCP, INC.	$3,567,000	+0.6%	95,750	-1.5%	0.76%	+13.7%
COP	Buy	CONOCOPHILLIPS	$3,445,000	-9.3%	71,836	+16.1%	0.73%	+2.4%
MSFT	Sell	MICROSOFT CORP	$3,381,000	+0.1%	76,392	-0.2%	0.72%	+12.9%
BRKB	Sell	BERKSHIRE HATH.	$3,297,000	-18.7%	25,281	-15.1%	0.70%	-8.0%
UN	Sell	UNILEVER NV	$3,294,000	-4.2%	81,950	-0.3%	0.70%	+8.2%
NSRGY	Buy	NESTLE SA	$3,263,000	+4.9%	43,362	+0.6%	0.69%	+18.5%
VNO	Sell	VORNADO RLTY	$3,257,000	-6.7%	36,025	-2.1%	0.69%	+5.3%
GIS	Sell	GENERAL MILLS INC	$3,144,000	-11.3%	56,020	-11.9%	0.67%	+0.2%
NUE	Buy	NUCOR CORP	$2,986,000	-13.8%	79,515	+1.1%	0.63%	-2.6%
BGS	Sell	B&G FOODS INC	$2,978,000	+9.2%	81,690	-14.5%	0.63%	+23.4%
UTX	Sell	UNITED TECH	$2,953,000	-49.6%	33,181	-37.2%	0.63%	-43.1%
WBA	Buy	WALGREEN CO	$2,896,000	-1.1%	34,851	+0.5%	0.62%	+11.8%
WMT	Buy	WAL-MART STORES	$2,890,000	-2.0%	44,574	+7.2%	0.61%	+10.6%
PYPL	New	PAYPAL	$2,865,000	–	92,300	–	0.61%	–
MON	Buy	MONSANTO	$2,729,000	-19.7%	31,975	+0.3%	0.58%	-9.2%
ESRX	Sell	EXPRESS SCRIPTS INC	$2,710,000	-10.1%	33,475	-1.2%	0.58%	+1.6%
FB	Sell	FACEBOOK, INC.	$2,422,000	-0.2%	26,940	-4.9%	0.51%	+12.7%
ETP	Sell	ENERGY TRANSFER	$2,001,000	-22.7%	48,721	-1.7%	0.42%	-12.6%
A104PS	Sell	HILTON WORLDWIDE	$1,949,000	-18.9%	84,940	-2.6%	0.41%	-8.2%
SBUX	Buy	STARBUCKS CORP	$1,923,000	+6.7%	33,836	+0.6%	0.41%	+20.4%
AXP	Sell	AMERICAN EXPRESS	$1,734,000	-9.1%	23,385	-4.7%	0.37%	+2.8%
HAL	Sell	HALLIBURTON CO	$1,693,000	-18.1%	47,905	-0.2%	0.36%	-7.7%
GE	Sell	GENERAL ELECTRIC	$1,685,000	-6.5%	66,828	-1.5%	0.36%	+5.6%
CSCO	Sell	CISCO SYSTEMS INC	$1,669,000	-43.2%	63,600	-40.6%	0.35%	-35.9%
NGLS	Sell	TARGA RESOURCES	$1,521,000	-25.2%	52,385	-0.6%	0.32%	-15.4%
IBM	Sell	IBM CORPORATION	$1,512,000	-18.7%	10,428	-8.7%	0.32%	-8.0%
KMI	Buy	KINDER MORGAN INC.	$1,319,000	-10.2%	47,661	+24.5%	0.28%	+1.4%
PAA	Sell	PLAINS ALL AM	$1,168,000	-33.9%	38,435	-5.2%	0.25%	-25.3%
PAGP	Sell	PLAINS GP HLDGS	$1,142,000	-36.1%	65,270	-5.6%	0.24%	-28.0%
GME	Buy	GAMESTOP CORP	$1,119,000	+317.5%	27,151	+334.4%	0.24%	+374.0%
SBAC	Sell	SBA COMMUNICATIONS	$1,100,000	-13.4%	10,500	-5.0%	0.23%	-2.5%
TWTR	Sell	TWITTER INC	$1,071,000	-30.6%	39,750	-6.7%	0.23%	-21.7%
CAT	Sell	CATERPILLAR	$1,060,000	-79.1%	16,220	-72.9%	0.22%	-76.4%
WPZ	Sell	WILLIAMS PARTNERS	$1,024,000	-34.1%	32,082	-0.1%	0.22%	-25.7%
FCX	Buy	FREEPORT MCMORAN	$994,000	+245.1%	102,575	+563.9%	0.21%	+290.7%
NRF	Sell	NORTHSTAR RLTY	$988,000	-31.0%	80,000	-11.1%	0.21%	-21.9%
VTR	Sell	VENTAS INC.	$945,000	-12.7%	16,850	-3.4%	0.20%	-1.0%
WMB	Buy	WILLIAMS COS INC	$914,000	+119.2%	24,808	+241.8%	0.19%	+148.7%
HAIN	Buy	HAIN CELESTIAL GRP	$871,000	-19.6%	16,875	+2.6%	0.18%	-8.9%
APC	Buy	ANADARKO PETRO	$829,000	-17.2%	13,725	+7.0%	0.18%	-6.4%
	Buy	VANGUARD INDX TR	$799,000	-7.0%	4,512	+0.0%	0.17%	+5.6%
CVA	Sell	COVANTA HLDG CORP	$778,000	-40.0%	44,557	-27.2%	0.16%	-32.1%
SCHW	Sell	SCHWAB, CHARLES	$758,000	-13.1%	26,543	-0.6%	0.16%	-1.8%
WES	Sell	WESTERN GAS	$729,000	-29.6%	15,578	-4.6%	0.16%	-20.1%
OXY	Buy	OCCIDENTAL PETROL	$682,000	-3.1%	10,308	+13.8%	0.14%	+9.8%
AGN	New	ALLERGAN INC.	$682,000	–	2,510	–	0.14%	–
GMGMQ	Sell	GEN MOTORS CORP	$643,000	-48.7%	21,436	-43.0%	0.14%	-42.1%
WWAV	Buy	WHITEWAVE FOOD CO	$608,000	-16.9%	15,150	+1.2%	0.13%	-6.5%
MMP	Sell	MAGELLAN	$604,000	-31.7%	10,050	-16.6%	0.13%	-22.9%
ABT	Buy	ABBOTT LABS COM	$573,000	-13.3%	14,250	+5.8%	0.12%	-1.6%
LRCX	Sell	LAM RESEARCH CORP	$567,000	-25.5%	8,675	-7.2%	0.12%	-16.1%
SHLX	Buy	SHELL MIDSTREAM PR	$512,000	-34.9%	17,400	+0.9%	0.11%	-26.4%
MAC	Sell	MACERICH CO	$473,000	-16.0%	6,159	-18.5%	0.10%	-5.7%
APA	Sell	APACHE CORP	$448,000	-35.4%	11,450	-4.8%	0.10%	-26.9%
ACC	Sell	AMERICAN CAMPUS	$420,000	-15.0%	11,600	-11.5%	0.09%	-4.3%
ENBL	Sell	ENABLE MIDSTREAM	$402,000	-25.4%	31,841	-5.6%	0.08%	-15.8%
CRM	Sell	SALESFORCE.COM	$398,000	-5.7%	5,738	-5.4%	0.08%	+6.3%
	Buy	VANGUARD WELL FUND	$346,000	+18.5%	9,364	+24.3%	0.07%	+32.7%
TRP	Buy	TRANSCANADA CORP	$330,000	-18.7%	10,441	+4.4%	0.07%	-7.9%
HYH	Sell	HALYARD HEALTH INC	$297,000	-87.6%	10,450	-82.3%	0.06%	-86.0%
CCP	New	CARE CAPITAL PROP	$298,000	–	9,036	–	0.06%	–
	Buy	VANGUARD CA INT	$273,000	+1.5%	23,212	+0.7%	0.06%	+13.7%
HEP	Sell	HOLLY ENERGY	$250,000	-32.8%	8,600	-18.9%	0.05%	-24.3%
SDRL	Sell	SEADRILL LTD	$59,000	-97.6%	10,000	-95.7%	0.01%	-97.2%
BK	Exit	BANK OF NEW YORK	$0	–	-4,850	–	-0.04%	–
TCO	Exit	TAUBMAN CENTERS	$0	–	-3,000	–	-0.04%	–
GOOGL	Exit	GOOGLE INC CLASS A	$0	–	-405	–	-0.04%	–
INGR	Exit	INGREDION	$0	–	-4,108	–	-0.06%	–
DTEGY	Exit	DEUTSCHE TELEKOM	$0	–	-24,070	–	-0.08%	–
TRGP	Exit	TARGA CORP	$0	–	-5,200	–	-0.09%	–
TRV	Exit	TRAVELERS CO	$0	–	-10,783	–	-0.20%	–
	Exit	CELGENE CORP	$0	–	-9,220	–	-0.20%	–
NKE	Exit	NIKE	$0	–	-11,650	–	-0.24%	–
K	Exit	KELLOGG CO	$0	–	-43,200	–	-0.51%	–
STX	Exit	SEAGATE TECHNOLOGY	$0	–	-96,585	–	-0.86%	–

Q2 2015

			Value		Shares		↓ Weighting
COUP	New	COUPONS.COM	$60,736,000	–	5,628,950	–	11.41%	–
PG	New	PROCTER & GAMBLE	$16,731,000	–	213,843	–	3.14%	–
BAC	New	BANK OF AMERICA	$12,609,000	–	740,820	–	2.37%	–
AAPL	New	APPLE COMPUTER	$10,849,000	–	86,495	–	2.04%	–
ABBV	New	ABBVIE INC.	$9,133,000	–	135,927	–	1.72%	–
PF	New	PINNACLE FOODS	$8,517,000	–	187,025	–	1.60%	–
BA	New	BOEING	$8,356,000	–	60,240	–	1.57%	–
C	New	CITIGROUP INC	$8,213,000	–	148,675	–	1.54%	–
BMY	New	BRISTOL-MYERS	$7,995,000	–	120,156	–	1.50%	–
AIG	New	AMER INT'L GROUP	$7,749,000	–	125,352	–	1.46%	–
PLD	New	PROLOGIS	$7,680,000	–	207,000	–	1.44%	–
BX	New	BLACKSTONE GROUP LP	$7,673,000	–	187,736	–	1.44%	–
PFE	New	PFIZER INC	$7,641,000	–	227,898	–	1.44%	–
AMAT	New	APPLIED MATERIALS	$7,490,000	–	389,700	–	1.41%	–
RAI	New	REYNOLDS AMERICAN	$7,289,000	–	97,633	–	1.37%	–
V	New	VISA INC CL A	$7,246,000	–	107,903	–	1.36%	–
MMM	New	3M COMPANY	$7,166,000	–	46,442	–	1.35%	–
MRK	New	MERCK & CO INC	$7,157,000	–	125,712	–	1.34%	–
LMT	New	LOCKHEED MARTIN	$7,054,000	–	37,945	–	1.32%	–
JPM	New	JP MORGAN CHASE	$6,947,000	–	102,530	–	1.30%	–
FRC	New	FIRST REPUBLIC BANK	$6,914,000	–	109,700	–	1.30%	–
VZ	New	VERIZON COMM	$6,843,000	–	146,823	–	1.29%	–
PEP	New	PEPSICO INC	$6,839,000	–	73,265	–	1.28%	–
MO	New	ALTRIA GROUP INC	$6,828,000	–	139,608	–	1.28%	–
ET	New	ENERGY TRANSFER EQU	$6,777,000	–	105,603	–	1.27%	–
HD	New	HOME DEPOT INC	$6,678,000	–	60,088	–	1.26%	–
IP	New	INTL PAPER	$6,604,000	–	138,777	–	1.24%	–
DOW	New	DOW CHEMICAL	$6,560,000	–	128,196	–	1.23%	–
HON	New	HONEYWELL INT'L INC	$6,553,000	–	64,262	–	1.23%	–
KKR	New	KOHLBERG KRAVIS	$6,372,000	–	278,879	–	1.20%	–
RDSA	New	ROYAL DUTCH SHELL	$6,359,000	–	111,540	–	1.20%	–
DD	New	DU PONT EI DE NMRS	$6,304,000	–	98,573	–	1.18%	–
MS	New	MORGAN STANLEY	$6,190,000	–	159,575	–	1.16%	–
EPD	New	ENTERPRISE PRODS	$6,190,000	–	207,104	–	1.16%	–
CMCSA	New	COMCAST CL A	$6,026,000	–	100,205	–	1.13%	–
INTC	New	INTEL CORPORATION	$5,895,000	–	193,825	–	1.11%	–
UTX	New	UNITED TECH	$5,863,000	–	52,856	–	1.10%	–
KEY	New	KEYCORP	$5,507,000	–	366,622	–	1.04%	–
LLY	New	LILLY, ELI & CO	$5,441,000	–	65,171	–	1.02%	–
T	New	AT&T	$5,420,000	–	152,577	–	1.02%	–
UNP	New	UNION PACIFIC	$5,218,000	–	54,716	–	0.98%	–
CAT	New	CATERPILLAR	$5,082,000	–	59,920	–	0.96%	–
WFC	New	WELLS FARGO & CO	$5,017,000	–	89,207	–	0.94%	–
YHOO	New	WEYERHAEUSER	$4,606,000	–	146,222	–	0.86%	–
STX	New	SEAGATE TECHNOLOGY	$4,588,000	–	96,585	–	0.86%	–
JNJ	New	JOHNSON & JOHNSON	$4,309,000	–	44,216	–	0.81%	–
RHHBY	New	ROCHE HLDGS LTD	$4,228,000	–	120,555	–	0.79%	–
BRKB	New	BERKSHIRE HATHAWAY	$4,053,000	–	29,781	–	0.76%	–
MAR	New	MARRIOTT INTL	$3,816,000	–	51,300	–	0.72%	–
COP	New	CONOCOPHILLIPS	$3,799,000	–	61,859	–	0.71%	–
UE	New	URBAN EDGE PROP.	$3,736,000	–	179,725	–	0.70%	–
RHI	New	ROBERT HALF INTL	$3,607,000	–	65,000	–	0.68%	–
GIS	New	GENERAL MILLS INC	$3,545,000	–	63,617	–	0.67%	–
HCP	New	HCP, INC.	$3,547,000	–	97,250	–	0.67%	–
PM	New	PHILIP MORRIS INTL	$3,533,000	–	44,065	–	0.66%	–
VNO	New	VORNADO RLTY	$3,492,000	–	36,780	–	0.66%	–
NUE	New	NUCOR CORP	$3,466,000	–	78,639	–	0.65%	–
UN	New	UNILEVER NV	$3,439,000	–	82,200	–	0.65%	–
MON	New	MONSANTO	$3,398,000	–	31,875	–	0.64%	–
MSFT	New	MICROSOFT CORP	$3,379,000	–	76,540	–	0.64%	–
XOM	New	EXXON MOBIL CORP	$3,228,000	–	38,800	–	0.61%	–
EAT	New	BRINKER INTL INC	$3,181,000	–	55,175	–	0.60%	–
NSRGY	New	NESTLE SA	$3,111,000	–	43,112	–	0.58%	–
ESRX	New	EXPRESS SCRIPTS INC	$3,013,000	–	33,875	–	0.57%	–
WMT	New	WAL-MART STORES	$2,948,000	–	41,568	–	0.55%	–
CSCO	New	CISCO SYSTEMS INC	$2,940,000	–	107,057	–	0.55%	–
WBA	New	WALGREEN CO	$2,928,000	–	34,675	–	0.55%	–
CVX	New	CHEVRON CORP	$2,738,000	–	28,385	–	0.51%	–
BGS	New	B&G FOODS INC	$2,727,000	–	95,590	–	0.51%	–
K	New	KELLOGG CO	$2,709,000	–	43,200	–	0.51%	–
SNY	New	SANOFI-AVENTIS	$2,586,000	–	52,215	–	0.49%	–
ETP	New	ENERGY TRANSFER	$2,587,000	–	49,565	–	0.49%	–
SDRL	New	SEADRILL LTD	$2,430,000	–	235,000	–	0.46%	–
FB	New	FACEBOOK, INC.	$2,428,000	–	28,315	–	0.46%	–
A104PS	New	HILTON WORLDWIDE	$2,402,000	–	87,190	–	0.45%	–
HYH	New	HALYARD HEALTH INC	$2,390,000	–	59,005	–	0.45%	–
MDLZ	New	MONDELEZ INTL	$2,127,000	–	51,703	–	0.40%	–
HAL	New	HALLIBURTON CO	$2,068,000	–	48,005	–	0.39%	–
NGLS	New	TARGA RESOURCES	$2,034,000	–	52,687	–	0.38%	–
AXP	New	AMERICAN EXPRESS	$1,907,000	–	24,535	–	0.36%	–
IBM	New	IBM CORPORATION	$1,859,000	–	11,427	–	0.35%	–
SBUX	New	STARBUCKS CORP	$1,803,000	–	33,636	–	0.34%	–
GE	New	GENERAL ELECTRIC	$1,802,000	–	67,828	–	0.34%	–
PAGP	New	PLAINS GP HLDGS	$1,787,000	–	69,170	–	0.34%	–
PAA	New	PLAINS ALL AM	$1,766,000	–	40,528	–	0.33%	–
NSAM	New	NORTHSTAR MGMT	$1,664,000	–	90,000	–	0.31%	–
WPZ	New	WILLIAMS PARTNERS	$1,555,000	–	32,115	–	0.29%	–
TWTR	New	TWITTER INC	$1,544,000	–	42,625	–	0.29%	–
KMI	New	KINDER MORGAN INC.	$1,469,000	–	38,276	–	0.28%	–
NRF	New	NORTHSTAR RLTY	$1,431,000	–	90,000	–	0.27%	–
CVA	New	COVANTA HLDG CORP	$1,296,000	–	61,178	–	0.24%	–
SBAC	New	SBA COMMUNICATIONS	$1,270,000	–	11,050	–	0.24%	–
NKE	New	NIKE	$1,258,000	–	11,650	–	0.24%	–
GMGMQ	New	GEN MOTORS CORP	$1,253,000	–	37,583	–	0.24%	–
HAIN	New	HAIN CELESTIAL GRP	$1,083,000	–	16,450	–	0.20%	–
VTR	New	VENTAS INC.	$1,083,000	–	17,450	–	0.20%	–
	New	CELGENE CORP	$1,067,000	–	9,220	–	0.20%	–
TRV	New	TRAVELERS CO	$1,042,000	–	10,783	–	0.20%	–
WES	New	WESTERN GAS	$1,035,000	–	16,326	–	0.19%	–
GPS	New	GAP INC	$1,015,000	–	26,600	–	0.19%	–
APC	New	ANADARKO PETRO	$1,001,000	–	12,825	–	0.19%	–
MMP	New	MAGELLAN	$884,000	–	12,050	–	0.17%	–
SCHW	New	SCHWAB, CHARLES	$872,000	–	26,693	–	0.16%	–
	New	VANGUARD INDX TR	$859,000	–	4,511	–	0.16%	–
SHLX	New	SHELL MIDSTREAM PR	$787,000	–	17,250	–	0.15%	–
HPQ	New	HEWLETT-PACKARD CO	$783,000	–	26,100	–	0.15%	–
LRCX	New	LAM RESEARCH CORP	$761,000	–	9,350	–	0.14%	–
ORCL	New	ORACLE CORP	$752,000	–	18,655	–	0.14%	–
WWAV	New	WHITEWAVE FOOD CO	$732,000	–	14,975	–	0.14%	–
OXY	New	OCCIDENTAL PETROL	$704,000	–	9,058	–	0.13%	–
APA	New	APACHE CORP	$693,000	–	12,025	–	0.13%	–
ABT	New	ABBOTT LABS COM	$661,000	–	13,475	–	0.12%	–
AVB	New	AVALONBAY	$661,000	–	4,135	–	0.12%	–
SPG	New	SIMON PPTY GRP INC	$661,000	–	3,820	–	0.12%	–
CPT	New	CAMDEN PROPERTY TR	$639,000	–	8,600	–	0.12%	–
CLX	New	CLOROX COMPANY	$624,000	–	6,000	–	0.12%	–
MAC	New	MACERICH CO	$563,000	–	7,553	–	0.11%	–
ENBL	New	ENABLE MIDSTREAM	$539,000	–	33,735	–	0.10%	–
BEN	New	FRANKLIN RES	$530,000	–	10,800	–	0.10%	–
ACC	New	AMERICAN CAMPUS	$494,000	–	13,100	–	0.09%	–
CMI	New	CUMMINS INC	$486,000	–	3,705	–	0.09%	–
TRGP	New	TARGA CORP	$464,000	–	5,200	–	0.09%	–
HIG	New	HARTFORD FINANCIAL	$459,000	–	11,030	–	0.09%	–
CRM	New	SALESFORCE.COM	$422,000	–	6,066	–	0.08%	–
FLO	New	FLOWERS FOODS	$423,000	–	20,000	–	0.08%	–
WMB	New	WILLIAMS COS INC	$417,000	–	7,258	–	0.08%	–
DTEGY	New	DEUTSCHE TELEKOM	$414,000	–	24,070	–	0.08%	–
TRP	New	TRANSCANADA CORP	$406,000	–	10,000	–	0.08%	–
	New	DFA US CORE EQUITY I	$381,000	–	20,945	–	0.07%	–
HEP	New	HOLLY ENERGY	$372,000	–	10,600	–	0.07%	–
INGR	New	INGREDION	$328,000	–	4,108	–	0.06%	–
EQM	New	EQT MIDSTREAM	$322,000	–	3,950	–	0.06%	–
	New	REGENCY CENTERS	$318,000	–	5,400	–	0.06%	–
	New	VANGUARD WELL FUND	$292,000	–	7,534	–	0.06%	–
FCX	New	FREEPORT MCMORAN	$288,000	–	15,450	–	0.05%	–
	New	VANGUARD CA INT	$269,000	–	23,049	–	0.05%	–
GME	New	GAMESTOP CORP	$268,000	–	6,250	–	0.05%	–
GOOGL	New	GOOGLE INC CLASS A	$219,000	–	405	–	0.04%	–
TCO	New	TAUBMAN CENTERS	$208,000	–	3,000	–	0.04%	–
BK	New	BANK OF NEW YORK	$204,000	–	4,850	–	0.04%	–
	New	COMM BK BAY OAKLAND CA	$138,000	–	30,000	–	0.03%	–
JCPNQ	New	PENNEY J C INC COM	$85,000	–	10,000	–	0.02%	–
AINV	New	APOLLO INVESTMENT	$71,000	–	10,000	–	0.01%	–

Q4 2014

			Value		Shares		↓ Weighting
RAD	Exit	RITE AID CORP.	$0	–	-22,500	–	-0.02%	–
	Exit	COMM BK BAY OAKLAND CA	$0	–	-30,000	–	-0.02%	–
AINV	Exit	APOLLO INVESTMENT	$0	–	-18,000	–	-0.03%	–
	Exit	BUNGE LIMITED	$0	–	-2,400	–	-0.04%	–
FELPQ	Exit	FORESIGHT ENRGY	$0	–	-11,400	–	-0.04%	–
TCO	Exit	TAUBMAN CENTERS	$0	–	-3,000	–	-0.04%	–
BGS	Exit	B&G FOODS INC	$0	–	-8,400	–	-0.04%	–
DNRCQ	Exit	DENBURY RESOURCES	$0	–	-16,300	–	-0.05%	–
GOOGL	Exit	GOOGLE INC CLASS A	$0	–	-430	–	-0.05%	–
MDLY	Exit	MEDLEY MGMT	$0	–	-15,000	–	-0.05%	–
	Exit	VANGUARD WELL FUND	$0	–	-7,122	–	-0.05%	–
KIM	Exit	KIMCO REALTY CORP	$0	–	-13,514	–	-0.06%	–
PMBC	Exit	PAC MERC BNCRP	$0	–	-45,000	–	-0.06%	–
	Exit	REGENCY CENTERS	$0	–	-6,000	–	-0.06%	–
	Exit	DFA US CORE EQUITY I	$0	–	-20,945	–	-0.07%	–
FLO	Exit	FLOWERS FOODS	$0	–	-20,000	–	-0.07%	–
DTEGY	Exit	DEUTSCHE TELEKOM	$0	–	-25,600	–	-0.07%	–
HEP	Exit	HOLLY ENERGY	$0	–	-10,600	–	-0.07%	–
EQM	Exit	EQT MIDSTREAM	$0	–	-4,400	–	-0.08%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-10,550	–	-0.08%	–
WPZ	Exit	WILLIAMS PARTNERS LP	$0	–	-8,400	–	-0.08%	–
GMGMQ	Exit	GEN MOTORS CORP	$0	–	-14,003	–	-0.08%	–
LGCY	Exit	LEGACY RESERVES LP	$0	–	-16,120	–	-0.09%	–
MAC	Exit	MACERICH CO	$0	–	-7,553	–	-0.09%	–
INGR	Exit	INGREDION	$0	–	-6,506	–	-0.09%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-10,000	–	-0.10%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-5,181	–	-0.10%	–
ACC	Exit	AMERICAN CAMPUS	$0	–	-15,100	–	-0.10%	–
CLX	Exit	CLOROX COMPANY	$0	–	-6,000	–	-0.11%	–
AVB	Exit	AVALONBAY	$0	–	-4,135	–	-0.11%	–
BEN	Exit	FRANKLIN RES	$0	–	-10,800	–	-0.11%	–
CPT	Exit	CAMDEN PROPERTY TR	$0	–	-8,600	–	-0.11%	–
TRGP	Exit	TARGA CORP	$0	–	-5,000	–	-0.13%	–
ORCL	Exit	ORACLE CORP	$0	–	-18,061	–	-0.13%	–
SPG	Exit	SIMON PPTY GRP INC	$0	–	-4,420	–	-0.14%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-9,800	–	-0.14%	–
SCHW	Exit	SCHWAB, CHARLES	$0	–	-24,943	–	-0.14%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-9,951	–	-0.14%	–
CTLT	Exit	CATALENT INC	$0	–	-30,000	–	-0.14%	–
	Exit	VANGUARD INDX TR	$0	–	-4,509	–	-0.16%	–
CRM	Exit	SALESFORCE.COM	$0	–	-15,356	–	-0.17%	–
NKE	Exit	NIKE	$0	–	-10,150	–	-0.17%	–
HPQ	Exit	HEWLETT-PACKARD CO	$0	–	-26,100	–	-0.18%	–
MMP	Exit	MAGELLAN	$0	–	-12,050	–	-0.19%	–
TRV	Exit	TRAVELERS CO	$0	–	-11,430	–	-0.20%	–
MDLZ	Exit	MONDELEZ INTL	$0	–	-31,326	–	-0.20%	–
QCOM	Exit	QUALCOMM INC	$0	–	-14,876	–	-0.21%	–
CMI	Exit	CUMMINS INC	$0	–	-8,580	–	-0.21%	–
GPS	Exit	GAP INC	$0	–	-27,300	–	-0.22%	–
WAG	Exit	WALGREEN CO	$0	–	-19,300	–	-0.22%	–
WES	Exit	WESTERN GAS	$0	–	-15,575	–	-0.22%	–
ENBL	Exit	ENABLE MIDSTREAM LP	$0	–	-52,800	–	-0.25%	–
L109PS	Exit	ACCESS MIDSTREAM	$0	–	-20,801	–	-0.25%	–
SBAC	Exit	SBA COMMUNICATIONS	$0	–	-12,000	–	-0.25%	–
FB	Exit	FACEBOOK, INC.	$0	–	-17,165	–	-0.26%	–
APA	Exit	APACHE CORP	$0	–	-14,500	–	-0.26%	–
OXY	Exit	OCCIDENTAL PETROL	$0	–	-14,364	–	-0.26%	–
VTR	Exit	VENTAS INC.	$0	–	-22,500	–	-0.26%	–
NRF	Exit	NORTHSTAR RLTY FIN	$0	–	-112,466	–	-0.38%	–
NSAM	Exit	NORTHSTAR ASSET MGMT	$0	–	-112,356	–	-0.39%	–
PAGP	Exit	PLAINS GP HLDGS	$0	–	-68,770	–	-0.40%	–
A104PS	Exit	HILTON WORLDWIDE	$0	–	-86,790	–	-0.40%	–
IBM	Exit	IBM CORPORATION	$0	–	-11,328	–	-0.41%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-24,735	–	-0.41%	–
PAA	Exit	PLAINS ALL AM	$0	–	-39,260	–	-0.44%	–
ESRX	Exit	EXPRESS SCRIPTS INC	$0	–	-35,900	–	-0.48%	–
K	Exit	KELLOGG CO	$0	–	-43,200	–	-0.50%	–
FCX	Exit	FREEPORT MCMORAN	$0	–	-85,132	–	-0.53%	–
EAT	Exit	BRINKER INTL INC	$0	–	-55,000	–	-0.53%	–
MON	Exit	MONSANTO	$0	–	-25,650	–	-0.55%	–
NGLS	Exit	TARGA RESOURCES	$0	–	-42,004	–	-0.58%	–
UN	Exit	UNILEVER NV	$0	–	-77,400	–	-0.58%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-49,800	–	-0.59%	–
WMT	Exit	WAL-MART STORES	$0	–	-41,554	–	-0.60%	–
RHI	Exit	ROBERT HALF INTL	$0	–	-65,000	–	-0.60%	–
NSRGY	Exit	NESTLE SA	$0	–	-43,762	–	-0.61%	–
LO	Exit	LORILLARD, INC	$0	–	-54,154	–	-0.62%	–
ETP	Exit	ENERGY TRANSFER	$0	–	-51,123	–	-0.62%	–
GIS	Exit	GENERAL MILLS INC	$0	–	-65,548	–	-0.63%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-75,708	–	-0.66%	–
MAR	Exit	MARRIOTT INTL	$0	–	-51,300	–	-0.68%	–
PM	Exit	PHILIP MORRIS INTL	$0	–	-43,058	–	-0.68%	–
VNO	Exit	VORNADO RLTY	$0	–	-36,780	–	-0.70%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-39,300	–	-0.70%	–
HCP	Exit	HCP, INC.	$0	–	-98,650	–	-0.74%	–
SNY	Exit	SANOFI-AVENTIS	$0	–	-71,270	–	-0.76%	–
NUE	Exit	NUCOR CORP	$0	–	-77,261	–	-0.80%	–
LLY	Exit	LILLY, ELI & CO	$0	–	-65,148	–	-0.80%	–
CVX	Exit	CHEVRON CORP	$0	–	-36,980	–	-0.84%	–
YHOO	Exit	WEYERHAEUSER	$0	–	-142,162	–	-0.86%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-60,509	–	-0.88%	–
T	Exit	AT&T	$0	–	-139,422	–	-0.93%	–
KEY	Exit	KEYCORP	$0	–	-373,541	–	-0.94%	–
CMCSA	Exit	COMCAST CL A	$0	–	-94,825	–	-0.97%	–
STX	Exit	SEAGATE TECHNOLOGY	$0	–	-89,410	–	-0.97%	–
MS	Exit	MORGAN STANLEY	$0	–	-150,850	–	-0.99%	–
KRFT	Exit	KRAFT FOOD GROUP	$0	–	-93,337	–	-1.00%	–
CAT	Exit	CATERPILLAR	$0	–	-53,350	–	-1.00%	–
PF	Exit	PINNACLE FOODS	$0	–	-165,391	–	-1.02%	–
FRC	Exit	FIRST REPUBLIC BANK	$0	–	-109,700	–	-1.03%	–
UTX	Exit	UNITED TECH	$0	–	-51,517	–	-1.03%	–
V	Exit	VISA INC CL A	$0	–	-25,575	–	-1.03%	–
BX	Exit	BLACKSTONE GROUP LP	$0	–	-174,678	–	-1.04%	–
HD	Exit	HOME DEPOT INC	$0	–	-59,994	–	-1.04%	–
RAI	Exit	REYNOLDS AMERICAN	$0	–	-95,753	–	-1.07%	–
UNP	Exit	UNION PACIFIC	$0	–	-52,450	–	-1.08%	–
HON	Exit	HONEYWELL INT'L INC	$0	–	-62,624	–	-1.10%	–
KKR	Exit	KOHLBERG KRAVIS	$0	–	-264,872	–	-1.12%	–
BMY	Exit	BRISTOL-MYERS	$0	–	-119,346	–	-1.16%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-101,803	–	-1.16%	–
IP	Exit	INTL PAPER	$0	–	-132,407	–	-1.20%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-140,746	–	-1.22%	–
ET	Exit	ENERGY TRANSFER EQU	$0	–	-105,826	–	-1.24%	–
INTC	Exit	INTEL CORPORATION	$0	–	-187,700	–	-1.24%	–
MRK	Exit	MERCK & CO INC	$0	–	-111,438	–	-1.25%	–
MMM	Exit	3M COMPANY	$0	–	-46,640	–	-1.25%	–
PFE	Exit	PFIZER INC	$0	–	-223,590	–	-1.25%	–
RHHBY	Exit	ROCHE HLDGS LTD	$0	–	-181,830	–	-1.27%	–
AIG	Exit	AMER INT'L GROUP	$0	–	-125,938	–	-1.29%	–
AAPL	Exit	APPLE COMPUTER	$0	–	-68,335	–	-1.30%	–
PEP	Exit	PEPSICO INC	$0	–	-74,272	–	-1.31%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-38,495	–	-1.33%	–
RDSA	Exit	ROYAL DUTCH SHELL	$0	–	-93,360	–	-1.35%	–
ABBV	Exit	ABBVIE INC.	$0	–	-126,000	–	-1.38%	–
DOW	Exit	DOW CHEMICAL	$0	–	-141,028	–	-1.40%	–
BA	Exit	BOEING	$0	–	-58,127	–	-1.40%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-69,916	–	-1.41%	–
C	Exit	CITIGROUP INC	$0	–	-146,361	–	-1.44%	–
VZ	Exit	VERIZON COMM	$0	–	-152,298	–	-1.44%	–
PLD	Exit	PROLOGIS	$0	–	-204,850	–	-1.46%	–
DD	Exit	DU PONT EI DE NMRS	$0	–	-109,421	–	-1.49%	–
EPD	Exit	ENTERPRISE PRODS	$0	–	-206,266	–	-1.58%	–
AMAT	Exit	APPLIED MATERIALS	$0	–	-388,190	–	-1.59%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-167,872	–	-1.65%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-409,096	–	-1.99%	–
BAC	Exit	BANK OF AMERICA	$0	–	-788,049	–	-2.54%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-235,143	–	-3.73%	–
COUP	Exit	COUPONS.COM	$0	–	-5,313,350	–	-12.04%	–

Q3 2014

			Value		Shares		↓ Weighting
COUP	New	COUPONS.COM	$63,548,000	–	5,313,350	–	12.04%	–
PG	Buy	PROCTER & GAMBLE	$19,691,000	+6.9%	235,143	+0.4%	3.73%	-7.4%
BAC	Sell	BANK OF AMERICA	$13,436,000	+9.6%	788,049	-1.2%	2.54%	-5.1%
GE	Sell	GENERAL ELECTRIC	$10,481,000	-3.9%	409,096	-1.5%	1.99%	-16.8%
WFC	Buy	WELLS FARGO & CO	$8,708,000	-0.7%	167,872	+0.6%	1.65%	-14.0%
AMAT	Buy	APPLIED MATERIALS	$8,389,000	-3.3%	388,190	+0.9%	1.59%	-16.3%
EPD	Buy	ENTERPRISE PRODS	$8,313,000	+2.1%	206,266	+98.3%	1.58%	-11.6%
DD	Sell	DU PONT EI DE NMRS	$7,852,000	+8.2%	109,421	-1.3%	1.49%	-6.3%
PLD	Sell	PROLOGIS	$7,723,000	-10.6%	204,850	-2.6%	1.46%	-22.6%
VZ	Buy	VERIZON COMM	$7,613,000	+3.6%	152,298	+1.4%	1.44%	-10.3%
C	Buy	CITIGROUP INC	$7,584,000	+10.2%	146,361	+0.1%	1.44%	-4.6%
JNJ	Buy	JOHNSON & JOHNSON	$7,452,000	+3.1%	69,916	+1.2%	1.41%	-10.7%
BA	Buy	BOEING	$7,404,000	+4.0%	58,127	+3.8%	1.40%	-9.9%
DOW	Buy	DOW CHEMICAL	$7,395,000	+3.6%	141,028	+1.7%	1.40%	-10.3%
ABBV	Sell	ABBVIE INC.	$7,278,000	+2.1%	126,000	-0.2%	1.38%	-11.6%
RDSA	New	ROYAL DUTCH SHELL	$7,107,000	–	93,360	–	1.35%	–
PEP	Buy	PEPSICO INC	$6,914,000	+4.5%	74,272	+0.3%	1.31%	-9.5%
AAPL	Buy	APPLE COMPUTER	$6,885,000	+10.0%	68,335	+1.5%	1.30%	-4.7%
AIG	Buy	AMER INT'L GROUP	$6,803,000	0.0%	125,938	+1.0%	1.29%	-13.4%
RHHBY	Buy	ROCHE HLDGS LTD	$6,726,000	+1.2%	181,830	+2.1%	1.27%	-12.4%
PFE	Buy	PFIZER INC	$6,612,000	+2.9%	223,590	+3.3%	1.25%	-10.9%
MMM	Buy	3M COMPANY	$6,608,000	-0.7%	46,640	+0.4%	1.25%	-14.0%
MRK	Buy	MERCK & CO INC	$6,606,000	+12.0%	111,438	+9.3%	1.25%	-3.1%
INTC	Buy	INTEL CORPORATION	$6,536,000	+16.6%	187,700	+3.5%	1.24%	+1.0%
ET	Buy	ENERGY TRANSFER EQU	$6,528,000	+7.1%	105,826	+2.3%	1.24%	-7.3%
MO	Sell	ALTRIA GROUP INC	$6,466,000	+9.5%	140,746	-0.1%	1.22%	-5.2%
IP	Buy	INTL PAPER	$6,321,000	-4.8%	132,407	+0.6%	1.20%	-17.6%
JPM	Sell	JP MORGAN CHASE	$6,133,000	+4.4%	101,803	-0.2%	1.16%	-9.6%
BMY	Buy	BRISTOL-MYERS	$6,108,000	+6.1%	119,346	+0.6%	1.16%	-8.1%
KKR	Buy	KOHLBERG KRAVIS	$5,907,000	+45.7%	264,872	+58.9%	1.12%	+26.2%
HON	Sell	HONEYWELL INT'L INC	$5,832,000	-1.2%	62,624	-1.3%	1.10%	-14.4%
UNP	Sell	UNION PACIFIC	$5,687,000	+6.9%	52,450	-1.7%	1.08%	-7.6%
RAI	Buy	REYNOLDS AMERICAN	$5,649,000	-0.8%	95,753	+1.5%	1.07%	-14.1%
HD	Buy	HOME DEPOT INC	$5,504,000	+13.3%	59,994	+0.0%	1.04%	-1.9%
BX	Buy	BLACKSTONE GROUP LP	$5,499,000	-5.7%	174,678	+0.2%	1.04%	-18.3%
V	Sell	VISA INC CL A	$5,457,000	+1.1%	25,575	-0.2%	1.03%	-12.4%
UTX	Buy	UNITED TECH	$5,440,000	-7.0%	51,517	+1.6%	1.03%	-19.5%
FRC	Buy	FIRST REPUBLIC BANK	$5,417,000	-5.3%	109,700	+5.5%	1.03%	-18.0%
PF	Buy	PINNACLE FOODS	$5,400,000	+3.2%	165,391	+4.0%	1.02%	-10.7%
CAT	Sell	CATERPILLAR	$5,283,000	-13.6%	53,350	-5.2%	1.00%	-25.2%
KRFT	Sell	KRAFT FOOD GROUP	$5,264,000	-7.4%	93,337	-1.6%	1.00%	-19.9%
MS	Sell	MORGAN STANLEY	$5,215,000	+5.9%	150,850	-1.0%	0.99%	-8.3%
STX	Sell	SEAGATE TECHNOLOGY	$5,121,000	+0.7%	89,410	-0.1%	0.97%	-12.8%
CMCSA	Sell	COMCAST CL A	$5,100,000	-1.5%	94,825	-1.7%	0.97%	-14.7%
KEY	Sell	KEYCORP	$4,979,000	-7.1%	373,541	-0.1%	0.94%	-19.6%
T	Buy	AT&T	$4,913,000	+2.6%	139,422	+3.0%	0.93%	-11.2%
YHOO	Buy	WEYERHAEUSER	$4,529,000	-2.4%	142,162	+1.4%	0.86%	-15.5%
CVX	Buy	CHEVRON CORP	$4,412,000	-8.1%	36,980	+0.5%	0.84%	-20.5%
LLY	Buy	LILLY, ELI & CO	$4,225,000	+5.1%	65,148	+0.8%	0.80%	-9.0%
NUE	Sell	NUCOR CORP	$4,194,000	+9.2%	77,261	-0.9%	0.80%	-5.4%
SNY	Sell	SANOFI-AVENTIS	$4,022,000	+6.1%	71,270	-0.1%	0.76%	-8.2%
HCP	Buy	HCP, INC.	$3,917,000	-2.3%	98,650	+1.8%	0.74%	-15.5%
PM	Buy	PHILIP MORRIS INTL	$3,591,000	+3.8%	43,058	+4.9%	0.68%	-10.2%
MAR	Buy	MARRIOTT INTL	$3,586,000	+9.3%	51,300	+0.2%	0.68%	-5.4%
MSFT	Buy	MICROSOFT CORP	$3,510,000	+11.8%	75,708	+0.5%	0.66%	-3.2%
GIS	Buy	GENERAL MILLS INC	$3,307,000	+3.8%	65,548	+8.1%	0.63%	-10.0%
ETP	Buy	ENERGY TRANSFER	$3,271,000	+10.5%	51,123	+0.1%	0.62%	-4.3%
LO	Sell	LORILLARD, INC	$3,244,000	-8.3%	54,154	-6.7%	0.62%	-20.5%
WMT	Buy	WAL-MART STORES	$3,178,000	+1.9%	41,554	+0.0%	0.60%	-11.9%
EMR	Buy	EMERSON ELECTRIC	$3,116,000	+5.3%	49,800	+11.7%	0.59%	-9.0%
UN	Buy	UNILEVER NV	$3,071,000	-1.0%	77,400	+9.2%	0.58%	-14.3%
NGLS	Sell	TARGA RESOURCES	$3,039,000	-0.6%	42,004	-1.1%	0.58%	-13.9%
FCX	Buy	FREEPORT MCMORAN	$2,780,000	+67.6%	85,132	+87.3%	0.53%	+45.2%
ESRX	Buy	EXPRESS SCRIPTS INC	$2,536,000	+2.3%	35,900	+0.4%	0.48%	-11.4%
PAA	Buy	PLAINS ALL AM	$2,311,000	-1.4%	39,260	+0.5%	0.44%	-14.6%
AXP	Sell	AMERICAN EXPRESS	$2,165,000	-8.5%	24,735	-0.8%	0.41%	-20.8%
A104PS	Sell	HILTON WORLDWIDE	$2,138,000	+3.3%	86,790	-2.3%	0.40%	-10.6%
PAGP	Buy	PLAINS GP HLDGS	$2,108,000	-2.6%	68,770	+1.6%	0.40%	-15.8%
NSAM	New	NORTHSTAR ASSET MGMT	$2,070,000	–	112,356	–	0.39%	–
NRF	Sell	NORTHSTAR RLTY FIN	$1,987,000	-49.7%	112,466	-50.6%	0.38%	-56.5%
VTR	Buy	VENTAS INC.	$1,394,000	+13.2%	22,500	+17.2%	0.26%	-1.9%
OXY	Sell	OCCIDENTAL PETROL	$1,381,000	-6.8%	14,364	-0.5%	0.26%	-19.1%
APA	Buy	APACHE CORP	$1,361,000	+9.3%	14,500	+17.2%	0.26%	-5.1%
FB	Sell	FACEBOOK, INC.	$1,357,000	+6.0%	17,165	-9.7%	0.26%	-8.2%
SBAC	Sell	SBA COMMUNICATIONS	$1,331,000	+4.3%	12,000	-3.8%	0.25%	-9.7%
L109PS	Buy	ACCESS MIDSTREAM	$1,324,000	+1.1%	20,801	+1.0%	0.25%	-12.2%
ENBL	Buy	ENABLE MIDSTREAM LP	$1,301,000	+77.5%	52,800	+88.6%	0.25%	+53.8%
WAG	Buy	WALGREEN CO	$1,144,000	+20.3%	19,300	+50.5%	0.22%	+4.3%
CMI	Buy	CUMMINS INC	$1,132,000	-14.0%	8,580	+0.6%	0.21%	-25.7%
QCOM	Buy	QUALCOMM INC	$1,112,000	-2.3%	14,876	+3.5%	0.21%	-15.3%
MDLZ	Buy	MONDELEZ INTL	$1,073,000	-6.5%	31,326	+2.6%	0.20%	-19.1%
TRV	Sell	TRAVELERS CO	$1,074,000	-8.1%	11,430	-8.0%	0.20%	-20.7%
NKE	Buy	NIKE	$905,000	+18.5%	10,150	+3.0%	0.17%	+2.4%
CRM	Buy	SALESFORCE.COM	$883,000	+18.7%	15,356	+19.9%	0.17%	+2.5%
	Buy	VANGUARD INDX TR	$821,000	+0.7%	4,509	+0.0%	0.16%	-12.4%
SBUX	Buy	STARBUCKS CORP	$751,000	-1.2%	9,951	+1.3%	0.14%	-14.5%
CTLT	New	CATALENT INC	$751,000	–	30,000	–	0.14%	–
SCHW	Sell	SCHWAB, CHARLES	$733,000	+7.5%	24,943	-1.6%	0.14%	-6.7%
ORCL	Buy	ORACLE CORP	$691,000	-1.3%	18,061	+4.6%	0.13%	-14.4%
CPT	Sell	CAMDEN PROPERTY TR	$589,000	-5.9%	8,600	-2.3%	0.11%	-18.2%
INGR	Sell	INGREDION	$493,000	-0.6%	6,506	-1.5%	0.09%	-14.7%
LGCY	Sell	LEGACY RESERVES LP	$478,000	-16.4%	16,120	-12.0%	0.09%	-27.2%
GMGMQ	Sell	GEN MOTORS CORP	$447,000	-23.3%	14,003	-12.8%	0.08%	-33.6%
WPZ	Buy	WILLIAMS PARTNERS LP	$446,000	+12.6%	8,400	+15.1%	0.08%	-3.4%
ABT	Buy	ABBOTT LABS COM	$439,000	+3.3%	10,550	+1.4%	0.08%	-10.8%
EQM	Sell	EQT MIDSTREAM	$394,000	-11.5%	4,400	-4.3%	0.08%	-22.7%
DTEGY	Sell	DEUTSCHE TELEKOM	$387,000	-17.0%	25,600	-3.8%	0.07%	-28.4%
FLO	Sell	FLOWERS FOODS	$367,000	-41.9%	20,000	-33.3%	0.07%	-49.3%
	Sell	REGENCY CENTERS	$323,000	-8.0%	6,000	-4.8%	0.06%	-20.8%
PMBC	New	PAC MERC BNCRP	$314,000	–	45,000	–	0.06%	–
KIM	Buy	KIMCO REALTY CORP	$296,000	-4.8%	13,514	+0.0%	0.06%	-17.6%
	Buy	VANGUARD WELL FUND	$283,000	+0.4%	7,122	+0.6%	0.05%	-12.9%
MDLY	New	MEDLEY MGMT	$253,000	–	15,000	–	0.05%	–
BGS	New	B&G FOODS INC	$231,000	–	8,400	–	0.04%	–
FELPQ	New	FORESIGHT ENRGY	$208,000	–	11,400	–	0.04%	–
	Sell	BUNGE LIMITED	$202,000	-73.2%	2,400	-75.9%	0.04%	-77.0%
AINV	Buy	APOLLO INVESTMENT	$147,000	+70.9%	18,000	+80.0%	0.03%	+47.4%
RAD	New	RITE AID CORP.	$109,000	–	22,500	–	0.02%	–
GMKYY	Exit	GRUMA S.A.B	$0	–	-5,000	–	-0.05%	–
KMI	Exit	KINDER MORGAN INC.	$0	–	-6,900	–	-0.06%	–
ESV	Exit	ENSCO PLC	$0	–	-11,150	–	-0.14%	–
DNKN	Exit	DUNKIN' BRANDS	$0	–	-33,250	–	-0.33%	–
HIG	Exit	HARTFORD FINANCIAL	$0	–	-87,659	–	-0.69%	–
GSK	Exit	GLAXOSMITHKILINE	$0	–	-104,675	–	-1.22%	–

Q2 2014

			Value		Shares		↓ Weighting
PG	New	PROCTER & GAMBLE	$18,412,000	–	234,282	–	4.03%	–
BAC	New	BANK OF AMERICA	$12,263,000	–	797,884	–	2.68%	–
GE	New	GENERAL ELECTRIC	$10,910,000	–	415,135	–	2.39%	–
WFC	New	WELLS FARGO & CO	$8,767,000	–	166,792	–	1.92%	–
AMAT	New	APPLIED MATERIALS	$8,673,000	–	384,590	–	1.90%	–
PLD	New	PROLOGIS	$8,643,000	–	210,350	–	1.89%	–
EPD	New	ENTERPRISE PRODS	$8,143,000	–	104,007	–	1.78%	–
VZ	New	VERIZON COMM	$7,349,000	–	150,192	–	1.61%	–
DD	New	DU PONT EI DE NMRS	$7,255,000	–	110,868	–	1.59%	–
JNJ	New	JOHNSON & JOHNSON	$7,228,000	–	69,092	–	1.58%	–
DOW	New	DOW CHEMICAL	$7,139,000	–	138,725	–	1.56%	–
ABBV	New	ABBVIE INC.	$7,128,000	–	126,300	–	1.56%	–
BA	New	BOEING	$7,122,000	–	55,976	–	1.56%	–
C	New	CITIGROUP INC	$6,884,000	–	146,150	–	1.51%	–
AIG	New	AMER INT'L GROUP	$6,803,000	–	124,637	–	1.49%	–
MMM	New	3M COMPANY	$6,652,000	–	46,440	–	1.46%	–
RHHBY	New	ROCHE HLDGS LTD	$6,645,000	–	178,160	–	1.45%	–
IP	New	INTL PAPER	$6,642,000	–	131,604	–	1.45%	–
PEP	New	PEPSICO INC	$6,617,000	–	74,061	–	1.45%	–
PFE	New	PFIZER INC	$6,426,000	–	216,497	–	1.41%	–
AAPL	New	APPLE COMPUTER	$6,257,000	–	67,334	–	1.37%	–
LMT	New	LOCKHEED MARTIN	$6,187,000	–	38,495	–	1.35%	–
CAT	New	CATERPILLAR	$6,115,000	–	56,275	–	1.34%	–
ET	New	ENERGY TRANSFER EQU	$6,096,000	–	103,425	–	1.33%	–
MO	New	ALTRIA GROUP INC	$5,906,000	–	140,826	–	1.29%	–
HON	New	HONEYWELL INT'L INC	$5,900,000	–	63,473	–	1.29%	–
MRK	New	MERCK & CO INC	$5,900,000	–	101,986	–	1.29%	–
JPM	New	JP MORGAN CHASE	$5,877,000	–	102,002	–	1.29%	–
UTX	New	UNITED TECH	$5,852,000	–	50,692	–	1.28%	–
BX	New	BLACKSTONE GROUP LP	$5,829,000	–	174,325	–	1.28%	–
BMY	New	BRISTOL-MYERS	$5,755,000	–	118,640	–	1.26%	–
FRC	New	FIRST REPUBLIC BANK	$5,719,000	–	104,000	–	1.25%	–
RAI	New	REYNOLDS AMERICAN	$5,694,000	–	94,351	–	1.25%	–
KRFT	New	KRAFT FOOD GROUP	$5,687,000	–	94,870	–	1.24%	–
INTC	New	INTEL CORPORATION	$5,604,000	–	181,350	–	1.23%	–
GSK	New	GLAXOSMITHKILINE	$5,598,000	–	104,675	–	1.22%	–
V	New	VISA INC CL A	$5,399,000	–	25,625	–	1.18%	–
KEY	New	KEYCORP	$5,360,000	–	374,031	–	1.17%	–
UNP	New	UNION PACIFIC	$5,322,000	–	53,350	–	1.16%	–
PF	New	PINNACLE FOODS	$5,233,000	–	159,070	–	1.14%	–
COP	New	CONOCOPHILLIPS	$5,187,000	–	60,509	–	1.14%	–
CMCSA	New	COMCAST CL A	$5,176,000	–	96,425	–	1.13%	–
STX	New	SEAGATE TECHNOLOGY	$5,086,000	–	89,510	–	1.11%	–
MS	New	MORGAN STANLEY	$4,924,000	–	152,300	–	1.08%	–
HD	New	HOME DEPOT INC	$4,857,000	–	59,987	–	1.06%	–
CVX	New	CHEVRON CORP	$4,803,000	–	36,787	–	1.05%	–
T	New	AT&T	$4,788,000	–	135,417	–	1.05%	–
YHOO	New	WEYERHAEUSER	$4,640,000	–	140,209	–	1.02%	–
KKR	New	KOHLBERG KRAVIS	$4,055,000	–	166,650	–	0.89%	–
LLY	New	LILLY, ELI & CO	$4,019,000	–	64,639	–	0.88%	–
HCP	New	HCP, INC.	$4,010,000	–	96,900	–	0.88%	–
XOM	New	EXXON MOBIL CORP	$3,957,000	–	39,300	–	0.87%	–
NRF	New	NORTHSTAR RLTY FIN	$3,954,000	–	227,512	–	0.86%	–
VNO	New	VORNADO RLTY	$3,926,000	–	36,780	–	0.86%	–
NUE	New	NUCOR CORP	$3,840,000	–	77,961	–	0.84%	–
SNY	New	SANOFI-AVENTIS	$3,792,000	–	71,317	–	0.83%	–
LO	New	LORILLARD, INC	$3,539,000	–	58,051	–	0.77%	–
PM	New	PHILIP MORRIS INTL	$3,461,000	–	41,050	–	0.76%	–
NSRGY	New	NESTLE SA	$3,399,000	–	43,762	–	0.74%	–
MAR	New	MARRIOTT INTL	$3,282,000	–	51,200	–	0.72%	–
MON	New	MONSANTO	$3,200,000	–	25,650	–	0.70%	–
GIS	New	GENERAL MILLS INC	$3,186,000	–	60,646	–	0.70%	–
MSFT	New	MICROSOFT CORP	$3,140,000	–	75,307	–	0.69%	–
HIG	New	HARTFORD FINANCIAL	$3,139,000	–	87,659	–	0.69%	–
WMT	New	WAL-MART STORES	$3,119,000	–	41,550	–	0.68%	–
RHI	New	ROBERT HALF INTL	$3,103,000	–	65,000	–	0.68%	–
UN	New	UNILEVER NV	$3,103,000	–	70,900	–	0.68%	–
NGLS	New	TARGA RESOURCES	$3,056,000	–	42,492	–	0.67%	–
ETP	New	ENERGY TRANSFER	$2,960,000	–	51,069	–	0.65%	–
EMR	New	EMERSON ELECTRIC	$2,960,000	–	44,600	–	0.65%	–
K	New	KELLOGG CO	$2,838,000	–	43,200	–	0.62%	–
EAT	New	BRINKER INTL INC	$2,676,000	–	55,000	–	0.59%	–
ESRX	New	EXPRESS SCRIPTS INC	$2,479,000	–	35,750	–	0.54%	–
AXP	New	AMERICAN EXPRESS	$2,366,000	–	24,935	–	0.52%	–
PAA	New	PLAINS ALL AM	$2,345,000	–	39,056	–	0.51%	–
PAGP	New	PLAINS GP HLDGS	$2,165,000	–	67,670	–	0.47%	–
A104PS	New	HILTON WORLDWIDE	$2,069,000	–	88,790	–	0.45%	–
IBM	New	IBM CORPORATION	$2,053,000	–	11,328	–	0.45%	–
FCX	New	FREEPORT MCMORAN	$1,659,000	–	45,454	–	0.36%	–
DNKN	New	DUNKIN' BRANDS	$1,523,000	–	33,250	–	0.33%	–
OXY	New	OCCIDENTAL PETROL	$1,482,000	–	14,437	–	0.32%	–
CMI	New	CUMMINS INC	$1,316,000	–	8,530	–	0.29%	–
L109PS	New	ACCESS MIDSTREAM	$1,309,000	–	20,600	–	0.29%	–
FB	New	FACEBOOK, INC.	$1,280,000	–	19,015	–	0.28%	–
SBAC	New	SBA COMMUNICATIONS	$1,276,000	–	12,475	–	0.28%	–
APA	New	APACHE CORP	$1,245,000	–	12,375	–	0.27%	–
VTR	New	VENTAS INC.	$1,231,000	–	19,200	–	0.27%	–
WES	New	WESTERN GAS	$1,191,000	–	15,575	–	0.26%	–
TRV	New	TRAVELERS CO	$1,169,000	–	12,428	–	0.26%	–
MDLZ	New	MONDELEZ INTL	$1,148,000	–	30,525	–	0.25%	–
QCOM	New	QUALCOMM INC	$1,138,000	–	14,375	–	0.25%	–
GPS	New	GAP INC	$1,135,000	–	27,300	–	0.25%	–
MMP	New	MAGELLAN	$1,013,000	–	12,050	–	0.22%	–
WAG	New	WALGREEN CO	$951,000	–	12,825	–	0.21%	–
HPQ	New	HEWLETT-PACKARD CO	$879,000	–	26,100	–	0.19%	–
	New	VANGUARD INDX TR	$815,000	–	4,508	–	0.18%	–
NKE	New	NIKE	$764,000	–	9,850	–	0.17%	–
SBUX	New	STARBUCKS CORP	$760,000	–	9,826	–	0.17%	–
	New	BUNGE LIMITED	$755,000	–	9,975	–	0.16%	–
CRM	New	SALESFORCE.COM	$744,000	–	12,806	–	0.16%	–
SPG	New	SIMON PPTY GRP INC	$735,000	–	4,420	–	0.16%	–
ENBL	New	ENABLE MIDSTREAM LP	$733,000	–	28,000	–	0.16%	–
TRGP	New	TARGA CORP	$698,000	–	5,000	–	0.15%	–
ORCL	New	ORACLE CORP	$700,000	–	17,261	–	0.15%	–
SCHW	New	SCHWAB, CHARLES	$682,000	–	25,343	–	0.15%	–
LRCX	New	LAM RESEARCH CORP	$662,000	–	9,800	–	0.14%	–
FLO	New	FLOWERS FOODS	$632,000	–	30,000	–	0.14%	–
CPT	New	CAMDEN PROPERTY TR	$626,000	–	8,800	–	0.14%	–
BEN	New	FRANKLIN RES	$625,000	–	10,800	–	0.14%	–
ESV	New	ENSCO PLC	$620,000	–	11,150	–	0.14%	–
SLB	New	SCHLUMBERGER LTD	$611,000	–	5,181	–	0.13%	–
AVB	New	AVALONBAY	$588,000	–	4,135	–	0.13%	–
GMGMQ	New	GEN MOTORS CORP	$583,000	–	16,051	–	0.13%	–
ACC	New	AMERICAN CAMPUS	$577,000	–	15,100	–	0.13%	–
LGCY	New	LEGACY RESERVES LP	$572,000	–	18,317	–	0.12%	–
CLX	New	CLOROX COMPANY	$548,000	–	6,000	–	0.12%	–
MAC	New	MACERICH CO	$504,000	–	7,553	–	0.11%	–
INGR	New	INGREDION	$496,000	–	6,606	–	0.11%	–
TRP	New	TRANSCANADA CORP	$477,000	–	10,000	–	0.10%	–
DTEGY	New	DEUTSCHE TELEKOM	$466,000	–	26,600	–	0.10%	–
EQM	New	EQT MIDSTREAM	$445,000	–	4,600	–	0.10%	–
ABT	New	ABBOTT LABS COM	$425,000	–	10,400	–	0.09%	–
WPZ	New	WILLIAMS PARTNERS LP	$396,000	–	7,300	–	0.09%	–
	New	DFA US CORE EQUITY I	$368,000	–	20,945	–	0.08%	–
HEP	New	HOLLY ENERGY	$365,000	–	10,600	–	0.08%	–
	New	REGENCY CENTERS	$351,000	–	6,300	–	0.08%	–
KIM	New	KIMCO REALTY CORP	$311,000	–	13,512	–	0.07%	–
DNRCQ	New	DENBURY RESOURCES	$301,000	–	16,300	–	0.07%	–
	New	VANGUARD WELL FUND	$282,000	–	7,080	–	0.06%	–
KMI	New	KINDER MORGAN INC.	$250,000	–	6,900	–	0.06%	–
GOOGL	New	GOOGLE INC CLASS A	$251,000	–	430	–	0.06%	–
GMKYY	New	GRUMA S.A.B	$239,000	–	5,000	–	0.05%	–
TCO	New	TAUBMAN CENTERS	$227,000	–	3,000	–	0.05%	–
	New	COMM BK BAY OAKLAND CA	$121,000	–	30,000	–	0.03%	–
AINV	New	APOLLO INVESTMENT	$86,000	–	10,000	–	0.02%	–

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