Wedgewood Partners Activity Q1 2000-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
FB	Sell	META PLATFORMS INCcl a	$41,582,087	+86529.3%	138,510	-17.2%	9.95%	+28.6%
GOOGL	Sell	ALPHABET INCcap stk cl a	$36,542,655	+89045.8%	279,250	-18.5%	8.74%	+32.3%
AAPL	Sell	APPLE INC	$31,723,406	+49466.3%	185,289	-43.8%	7.59%	-26.4%
MSI	Sell	MOTOROLA SOLUTIONS INC	$29,184,655	+65761.7%	107,202	-29.0%	6.98%	-2.3%
V	Sell	VISA INC	$27,334,708	+65054.0%	118,841	-32.7%	6.54%	-3.3%
CDW	Sell	CDW CORP	$26,705,442	+84035.5%	132,362	-23.5%	6.39%	+24.9%
UNH	Sell	UNITEDHEALTH GROUP INC	$25,295,636	+71587.5%	50,171	-31.7%	6.05%	+6.4%
CPRT	Buy	COPART INC	$23,770,469	+72497.1%	551,647	+53.7%	5.69%	+7.7%
MSFT	Sell	MICROSOFT CORP	$23,261,810	+60045.3%	73,672	-35.1%	5.57%	-10.7%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$23,102,220	+67620.6%	265,848	-21.4%	5.53%	+0.5%
TSCO	Sell	TRACTOR SUPPLY CO	$21,833,312	+61062.9%	107,527	-33.4%	5.22%	-9.2%
PYPL	Sell	PAYPAL HLDGS INC	$20,432,472	+63313.5%	349,512	-27.6%	4.89%	-5.9%
BKNG	Sell	BOOKING HOLDINGS INC	$20,249,216	+82010.3%	6,566	-28.1%	4.84%	+21.9%
EW	Sell	EDWARDS LIFESCIENCES CORP	$13,426,256	+45062.2%	193,797	-38.5%	3.21%	-33.0%
ODFL	Sell	OLD DOMINION FREIGHT LINE IN	$13,245,673	+63860.9%	32,374	-42.2%	3.17%	-5.1%
POOL	Sell	POOL CORP	$12,789,651	+76210.6%	35,916	-19.7%	3.06%	+13.2%
SPGI	Sell	S&P GLOBAL INC	$9,590,796	+64597.8%	26,247	-29.0%	2.30%	-4.0%
TPL	Sell	TEXAS PACIFIC LAND CORPORATI	$8,718,479	+97106.8%	4,781	-29.8%	2.09%	+44.3%
ORLY	New	OREILLY AUTOMOTIVE INC	$8,590,545	–	9,452	–	2.06%	–
IWF	New	ISHARES TRrus 1000 grw etf	$356,161	–	1,339	–	0.08%	–
GOOG	Sell	ALPHABET INCcap stk cl c	$204,631	+2329.7%	1,552	-97.8%	0.05%	-96.4%
	Exit	WARNER BROS DISCOVERY INC COM	$0	–	-16,422	–	-0.03%	–
AMZN	Exit	AMAZON COM INC COM	$0	–	-1,600	–	-0.03%	–
F	Exit	FORD MTR CO DEL COM	$0	–	-15,625	–	-0.04%	–
BP	Exit	BP PLC SPONSORED ADR	$0	–	-6,875	–	-0.04%	–
ED	Exit	CONSOLIDATED EDISON INC COM	$0	–	-2,750	–	-0.04%	–
KHC	Exit	KRAFT HEINZ CO COM	$0	–	-8,000	–	-0.05%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-3,300	–	-0.05%	–
VEA	Exit	VANGUARD DEVELOPED MARKETSINDE	$0	–	-6,493	–	-0.05%	–
PEP	Exit	PEPSICO INC COM	$0	–	-1,750	–	-0.05%	–
AEE	Exit	AMEREN CORP COM	$0	–	-6,900	–	-0.09%	–
BA	Exit	BOEING CO	$0	–	-2,775	–	-0.09%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-21,290	–	-0.13%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-4,905	–	-0.13%	–
T	Exit	AT&T INC COM	$0	–	-75,625	–	-0.19%	–
BX	Exit	BLACKSTONE INC COM	$0	–	-16,750	–	-0.25%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-61,775	–	-0.33%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-19,300	–	-1.06%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$64,002	–	329,962	–	10.32%	–
FB	New	META PLATFORMS INC CLASS A	$48,000	–	167,265	–	7.74%	–
MSI	New	MOTOROLA SOLUTIONS	$44,312	–	151,095	–	7.14%	–
V	New	VISA INC CLASS A	$41,954	–	176,665	–	6.76%	–
GOOGL	New	ALPHABET INC. CLASS A	$40,992	–	342,458	–	6.61%	–
MSFT	New	MICROSOFT CORP	$38,676	–	113,575	–	6.24%	–
TSCO	New	TRACTOR SUPPLY COMP	$35,697	–	161,455	–	5.76%	–
UNH	New	UNITEDHEALTH GRP INC	$35,286	–	73,417	–	5.69%	–
TSM	New	TAIWAN SEMICONDUCTR F SPONSORE	$34,114	–	338,042	–	5.50%	–
CPRT	New	COPART INC	$32,743	–	359,006	–	5.28%	–
PYPL	New	PAYPAL HOLDINGS INCORPOR	$32,221	–	482,868	–	5.20%	–
CDW	New	CDW CORP	$31,741	–	172,984	–	5.12%	–
EW	New	EDWARDS LIFESCIENCES	$29,729	–	315,173	–	4.79%	–
BKNG	New	BOOKING HOLDINGS INC	$24,661	–	9,133	–	3.98%	–
ODFL	New	OLD DOMINION FREIGHT	$20,709	–	56,012	–	3.34%	–
POOL	New	POOL CORP	$16,760	–	44,738	–	2.70%	–
SPGI	New	S&P GLOBAL INC	$14,824	–	36,980	–	2.39%	–
TPL	New	TEXAS PACIFIC LAND CORP	$8,969	–	6,813	–	1.45%	–
GOOG	New	ALPHABET INC. CLASS C	$8,422	–	69,627	–	1.36%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$6,581	–	19,300	–	1.06%	–
USB	New	US BANCORP DEL COM NEW	$2,041	–	61,775	–	0.33%	–
BX	New	BLACKSTONE INC COM	$1,557	–	16,750	–	0.25%	–
T	New	AT&T INC COM	$1,206	–	75,625	–	0.19%	–
JNJ	New	JOHNSON & JOHNSON COM	$811	–	4,905	–	0.13%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$791	–	21,290	–	0.13%	–
BA	New	BOEING CO	$585	–	2,775	–	0.09%	–
AEE	New	AMEREN CORP COM	$563	–	6,900	–	0.09%	–
PEP	New	PEPSICO INC COM	$324	–	1,750	–	0.05%	–
VEA	New	VANGUARD DEVELOPED MARKETSINDE	$299	–	6,493	–	0.05%	–
DIS	New	DISNEY WALT CO COM	$294	–	3,300	–	0.05%	–
KHC	New	KRAFT HEINZ CO COM	$284	–	8,000	–	0.05%	–
ED	New	CONSOLIDATED EDISON INC COM	$248	–	2,750	–	0.04%	–
BP	New	BP PLC SPONSORED ADR	$242	–	6,875	–	0.04%	–
F	New	FORD MTR CO DEL COM	$236	–	15,625	–	0.04%	–
AMZN	New	AMAZON COM INC COM	$208	–	1,600	–	0.03%	–
	New	WARNER BROS DISCOVERY INC COM	$205	–	16,422	–	0.03%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	WARNER BROS DISCOVERY INC COM	$0	–	-16,584	–	-0.04%	–
PEP	Exit	PEPSICO INC COM	$0	–	-1,250	–	-0.04%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-2,375	–	-0.04%	–
PAYX	Exit	PAYCHEX INC COM	$0	–	-2,000	–	-0.04%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-3,300	–	-0.06%	–
BP	Exit	BP PLC SPONSORED ADR	$0	–	-12,750	–	-0.07%	–
	Exit	ANNALY CAPITAL MANAGEMENT INC	$0	–	-21,561	–	-0.07%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO COM	$0	–	-5,425	–	-0.07%	–
KHC	Exit	KRAFT HEINZ CO COM	$0	–	-11,750	–	-0.07%	–
BA	Exit	BOEING CO COM	$0	–	-3,725	–	-0.08%	–
ED	Exit	CONSOLIDATED EDISON INC COM	$0	–	-5,250	–	-0.08%	–
AEE	Exit	AMEREN CORP COM	$0	–	-6,900	–	-0.10%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-23,250	–	-0.17%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-6,400	–	-0.20%	–
BX	Exit	BLACKSTONE INC COM	$0	–	-14,000	–	-0.22%	–
T	Exit	AT&T INC COM	$0	–	-77,500	–	-0.22%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-36,805	–	-0.28%	–
SBUX	Exit	STARBUCKS CORP COM	$0	–	-25,390	–	-0.40%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-19,375	–	-0.97%	–
GOOG	Exit	ALPHABET INC. CLASS C	$0	–	-80,530	–	-1.46%	–
POOL	Exit	POOL CORP	$0	–	-30,223	–	-1.81%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-39,297	–	-2.26%	–
ODFL	Exit	OLD DOMINION FREIGHT	$0	–	-56,160	–	-2.63%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-9,271	–	-2.87%	–
TPL	Exit	TEXAS PACIFIC LAND CORP	$0	–	-10,474	–	-3.50%	–
FRC	Exit	FIRST REPUBLIC BANK	$0	–	-150,846	–	-3.70%	–
TSM	Exit	TAIWAN SEMICONDUCTR F SPONSORE	$0	–	-296,516	–	-3.82%	–
CPRT	Exit	COPART INC	$0	–	-192,001	–	-3.84%	–
PGR	Exit	PROGRESSIVE CO OHIO	$0	–	-178,530	–	-3.90%	–
PYPL	Exit	PAYPAL HOLDINGS INCORPOR	$0	–	-312,051	–	-5.05%	–
FB	Exit	META PLATFORMS INC CLASS A	$0	–	-201,118	–	-5.13%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-331,627	–	-5.16%	–
CDW	Exit	CDW CORP	$0	–	-180,363	–	-5.30%	–
GOOGL	Exit	ALPHABET INC. CLASS A	$0	–	-321,148	–	-5.78%	–
UNH	Exit	UNITEDHEALTH GRP INC	$0	–	-60,867	–	-5.78%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-137,986	–	-6.05%	–
TSCO	Exit	TRACTOR SUPPLY COMP	$0	–	-176,256	–	-6.16%	–
V	Exit	VISA INC CLASS A	$0	–	-191,229	–	-6.39%	–
MSI	Exit	MOTOROLA SOLUTIONS	$0	–	-161,350	–	-6.80%	–
AAPL	Exit	APPLE INC	$0	–	-360,547	–	-9.37%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$49,827,000	-0.8%	360,547	-1.8%	9.37%	+8.1%
MSI	Sell	MOTOROLA SOLUTIONS	$36,136,000	+3.1%	161,350	-3.5%	6.80%	+12.3%
V	Sell	VISA INC CLASS A	$33,971,000	-12.2%	191,229	-2.7%	6.39%	-4.4%
TSCO	Sell	TRACTOR SUPPLY COMP	$32,761,000	-6.1%	176,256	-2.0%	6.16%	+2.3%
MSFT	Sell	MICROSOFT CORP	$32,136,000	-11.4%	137,986	-2.3%	6.05%	-3.5%
UNH	Sell	UNITEDHEALTH GRP INC	$30,740,000	-4.2%	60,867	-2.6%	5.78%	+4.3%
GOOGL	Buy	ALPHABET INC. CLASS A	$30,717,000	-14.4%	321,148	+1850.8%	5.78%	-6.7%
CDW	Sell	CDW CORP	$28,150,000	-3.7%	180,363	-2.8%	5.30%	+4.9%
EW	Sell	EDWARDS LIFESCIENCES	$27,402,000	-15.4%	331,627	-2.7%	5.16%	-7.9%
FB	Sell	META PLATFORMS INC CLASS A	$27,287,000	-22.3%	201,118	-7.6%	5.13%	-15.4%
PYPL	Sell	PAYPAL HOLDINGS INCORPOR	$26,858,000	+15.8%	312,051	-6.0%	5.05%	+26.2%
PGR	Sell	PROGRESSIVE CO OHIO	$20,746,000	-2.9%	178,530	-2.9%	3.90%	+5.7%
CPRT	Sell	COPART INC	$20,428,000	-4.8%	192,001	-2.8%	3.84%	+3.6%
TSM	Sell	TAIWAN SEMICONDUCTR F SPONSORE	$20,328,000	-28.9%	296,516	-15.2%	3.82%	-22.5%
FRC	Sell	FIRST REPUBLIC BANK	$19,692,000	-10.9%	150,846	-1.6%	3.70%	-2.9%
TPL	Sell	TEXAS PACIFIC LAND CORP	$18,615,000	+15.4%	10,474	-3.4%	3.50%	+25.7%
BKNG	Sell	BOOKING HOLDINGS INC	$15,233,000	-11.2%	9,271	-5.5%	2.87%	-3.3%
ODFL	Sell	OLD DOMINION FREIGHT	$13,970,000	-6.0%	56,160	-3.2%	2.63%	+2.3%
SPGI	Sell	S&P GLOBAL INC	$11,998,000	-11.8%	39,297	-2.6%	2.26%	-3.9%
POOL	Sell	POOL CORP	$9,616,000	-10.9%	30,223	-1.6%	1.81%	-2.9%
GOOG	Buy	ALPHABET INC. CLASS C	$7,742,000	-12.5%	80,530	+1890.9%	1.46%	-4.6%
SBUX	Sell	STARBUCKS CORP COM	$2,139,000	-41.2%	25,390	-46.7%	0.40%	-36.0%
USB	Buy	US BANCORP DEL COM NEW	$1,483,000	-6.0%	36,805	+7.3%	0.28%	+2.2%
T	Buy	AT&T INC COM	$1,188,000	+22.0%	77,500	+66.7%	0.22%	+33.3%
BX	Buy	BLACKSTONE INC COM	$1,171,000	+0.7%	14,000	+9.8%	0.22%	+9.5%
JNJ	Sell	JOHNSON & JOHNSON COM	$1,045,000	-8.7%	6,400	-0.8%	0.20%	-0.5%
VZ	Buy	VERIZON COMMUNICATIONS INC COM	$882,000	-16.2%	23,250	+12.0%	0.17%	-8.8%
BA	Buy	BOEING CO COM	$451,000	+22.2%	3,725	+38.0%	0.08%	+32.8%
KHC	Buy	KRAFT HEINZ CO COM	$391,000	-6.7%	11,750	+6.8%	0.07%	+2.8%
BMY	Sell	BRISTOL-MYERS SQUIBB CO COM	$385,000	-15.6%	5,425	-8.4%	0.07%	-8.9%
	New	ANNALY CAPITAL MANAGEMENT INC	$369,000	–	21,561	–	0.07%	–
DIS	Buy	DISNEY WALT CO COM	$311,000	+43.3%	3,300	+43.5%	0.06%	+59.5%
XOM	New	EXXON MOBIL CORP COM	$207,000	–	2,375	–	0.04%	–
	Buy	WARNER BROS DISCOVERY INC COM	$190,000	-14.0%	16,584	+0.6%	0.04%	-5.3%
NLY	Exit	ANNALY CAPITAL MANAGEMENT INC	$0	–	-81,250	–	-0.08%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC COM	$0	–	-15,375	–	-0.37%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$50,213,000	–	367,275	–	8.67%	–
V	New	VISA	$38,697,000	–	196,545	–	6.68%	–
MSFT	New	MICROSOFT CORP	$36,270,000	–	141,226	–	6.26%	–
GOOGL	New	ALPHABET INC. CL A	$35,874,000	–	16,462	–	6.20%	–
FB	New	FACEBOOK	$35,112,000	–	217,756	–	6.06%	–
MSI	New	MOTOROLA SOLUTIONS INC NEW	$35,057,000	–	167,263	–	6.06%	–
TSCO	New	TRACTOR SUPPLY CO	$34,877,000	–	179,920	–	6.02%	–
EW	New	EDWARDS LIFESCIENCES	$32,395,000	–	340,689	–	5.60%	–
UNH	New	UNITEDHEALTH GROUP INC	$32,094,000	–	62,486	–	5.54%	–
CDW	New	CDW CORP	$29,226,000	–	185,496	–	5.05%	–
TSM	New	TAIWAN SEMICONDUCTOR MANUFA	$28,574,000	–	349,542	–	4.94%	–
PYPL	New	PAYPAL HOLDINGS	$23,185,000	–	331,987	–	4.00%	–
FRC	New	FIRST REPUBLIC BANK SAN FR	$22,097,000	–	153,243	–	3.82%	–
CPRT	New	COPART INC	$21,465,000	–	197,546	–	3.71%	–
PGR	New	PROGRESSIVE CORP OH	$21,374,000	–	183,841	–	3.69%	–
BKNG	New	BOOKING HOLDINGS	$17,153,000	–	9,808	–	2.96%	–
TPL	New	TEXAS PACIFIC LAND CORP	$16,132,000	–	10,841	–	2.79%	–
ODFL	New	OLD DOMINION FREIGHT LINES	$14,868,000	–	58,018	–	2.57%	–
SPGI	New	S&P GLOBAL INC	$13,596,000	–	40,339	–	2.35%	–
POOL	New	POOL CORP	$10,788,000	–	30,718	–	1.86%	–
GOOG	New	ALPHABET INC. CL C	$8,848,000	–	4,045	–	1.53%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$5,289,000	–	19,375	–	0.91%	–
SBUX	New	STARBUCKS CORP COM	$3,637,000	–	47,612	–	0.63%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC COM	$2,119,000	–	15,375	–	0.37%	–
USB	New	US BANCORP DEL COM NEW	$1,578,000	–	34,305	–	0.27%	–
BX	New	BLACKSTONE INC COM	$1,163,000	–	12,750	–	0.20%	–
JNJ	New	JOHNSON & JOHNSON COM	$1,144,000	–	6,450	–	0.20%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$1,053,000	–	20,750	–	0.18%	–
T	New	AT&T INC COM	$974,000	–	46,500	–	0.17%	–
AEE	New	AMEREN CORP COM	$623,000	–	6,900	–	0.11%	–
ED	New	CONSOLIDATED EDISON INC COM	$499,000	–	5,250	–	0.09%	–
NLY	New	ANNALY CAPITAL MANAGEMENT INC	$480,000	–	81,250	–	0.08%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$456,000	–	5,925	–	0.08%	–
KHC	New	KRAFT HEINZ CO COM	$419,000	–	11,000	–	0.07%	–
BA	New	BOEING CO COM	$369,000	–	2,700	–	0.06%	–
BP	New	BP PLC SPONSORED ADR	$361,000	–	12,750	–	0.06%	–
PAYX	New	PAYCHEX INC COM	$227,000	–	2,000	–	0.04%	–
	New	WARNER BROS DISCOVERY INC COM	$221,000	–	16,481	–	0.04%	–
DIS	New	DISNEY WALT CO COM	$217,000	–	2,300	–	0.04%	–
PEP	New	PEPSICO INC COM	$208,000	–	1,250	–	0.04%	–

Q4 2021

			Value		Shares		↓ Weighting
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-5,000	–	-0.03%	–
KHC	Exit	KRAFT HEINZ CO COM	$0	–	-5,750	–	-0.03%	–
PAYX	Exit	PAYCHEX INC COM USD0.01	$0	–	-2,000	–	-0.03%	–
BA	Exit	BOEING CO COM	$0	–	-1,300	–	-0.04%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO COM	$0	–	-5,300	–	-0.04%	–
QCOM	Exit	QUALCOMM	$0	–	-2,650	–	-0.05%	–
ED	Exit	CONSOLIDATED EDISON INCCOM USD	$0	–	-5,250	–	-0.05%	–
BP	Exit	BP PLC SPONSORED ADR	$0	–	-16,250	–	-0.06%	–
SLB	Exit	SCHLUMBERGER	$0	–	-17,250	–	-0.07%	–
ECL	Exit	ECOLAB INC	$0	–	-2,500	–	-0.07%	–
AEE	Exit	AMEREN CORP COM USD0.01	$0	–	-6,900	–	-0.08%	–
NLY	Exit	ANNALY CAPITAL MANAGEMENT INC	$0	–	-95,500	–	-0.11%	–
VZ	Exit	VERIZON COMMUNICATIONSINC	$0	–	-16,000	–	-0.12%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-6,125	–	-0.14%	–
T	Exit	AT&T INC COM	$0	–	-36,750	–	-0.14%	–
BX	Exit	BLACKSTONE INC	$0	–	-12,000	–	-0.20%	–
USB	Exit	US BANCORP	$0	–	-40,513	–	-0.34%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-20,250	–	-0.78%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-3,818	–	-1.44%	–
BKNG	Exit	BOOKING HOLDINGS	$0	–	-6,404	–	-2.14%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-41,116	–	-2.46%	–
ODFL	Exit	OLD DOMINION FREIGHT	$0	–	-61,163	–	-2.47%	–
UNH	Exit	UNITEDHEALTH GRP INC	$0	–	-51,972	–	-2.86%	–
FRC	Exit	FIRST REPUBLIC BANK	$0	–	-114,362	–	-3.11%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-203,420	–	-3.16%	–
PGR	Exit	PROGRESSIVE CO OHIO	$0	–	-255,997	–	-3.26%	–
TSM	Exit	TAIWAN SEMICONDUCTR F SPONSORE	$0	–	-210,107	–	-3.31%	–
CPRT	Exit	COPART INC	$0	–	-191,168	–	-3.74%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-196,446	–	-3.94%	–
KEYS	Exit	KEYSIGHT TECH INC	$0	–	-178,081	–	-4.13%	–
V	Exit	VISA	$0	–	-139,152	–	-4.37%	–
CDW	Exit	CDW CORP	$0	–	-179,341	–	-4.60%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-132,048	–	-5.25%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-149,746	–	-5.50%	–
TSCO	Exit	TRACTOR SUPPLY COMP	$0	–	-210,494	–	-6.01%	–
MSI	Exit	MOTOROLA SOLUTIONS	$0	–	-192,679	–	-6.31%	–
FB	Exit	FACEBOOK	$0	–	-146,930	–	-7.03%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-19,811	–	-7.47%	–
AAPL	Exit	APPLE	$0	–	-375,367	–	-7.49%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-472,627	–	-7.54%	–

Q3 2021

			Value		Shares		↓ Weighting
EW	Sell	EDWARDS LIFESCIENCES	$53,506,000	+6.8%	472,627	-2.3%	7.54%	+4.0%
AAPL	Sell	APPLE	$53,114,000	+2.2%	375,367	-1.1%	7.49%	-0.6%
GOOGL	Sell	ALPHABET INC. CL A	$52,964,000	-2.8%	19,811	-11.2%	7.47%	-5.4%
FB	Sell	FACEBOOK	$49,866,000	-3.6%	146,930	-1.2%	7.03%	-6.2%
MSI	Sell	MOTOROLA SOLUTIONS	$44,762,000	+5.6%	192,679	-1.4%	6.31%	+2.7%
TSCO	Sell	TRACTOR SUPPLY COMP	$42,647,000	+7.7%	210,494	-1.1%	6.01%	+4.8%
PYPL	Sell	PAYPAL HOLDINGS	$38,964,000	-12.0%	149,746	-1.5%	5.50%	-14.4%
MSFT	Sell	MICROSOFT CORP	$37,226,000	+3.1%	132,048	-1.0%	5.25%	+0.3%
CDW	Sell	CDW CORP	$32,643,000	+2.7%	179,341	-1.4%	4.60%	-0.0%
V	Sell	VISA	$30,996,000	-5.7%	139,152	-1.0%	4.37%	-8.2%
KEYS	Sell	KEYSIGHT TECH INC	$29,256,000	-11.5%	178,081	-16.8%	4.13%	-13.9%
EA	Sell	ELECTRONIC ARTS INC	$27,943,000	-2.1%	196,446	-1.0%	3.94%	-4.8%
CPRT	Sell	COPART INC	$26,517,000	+3.6%	191,168	-1.5%	3.74%	+0.8%
TSM	Buy	TAIWAN SEMICONDUCTR F SPONSORE	$23,458,000	+65.2%	210,107	+77.7%	3.31%	+60.7%
PGR	Buy	PROGRESSIVE CO OHIO	$23,138,000	-7.5%	255,997	+0.6%	3.26%	-10.0%
SBUX	Sell	STARBUCKS CORP	$22,438,000	-21.1%	203,420	-20.0%	3.16%	-23.2%
FRC	Sell	FIRST REPUBLIC BANK	$22,057,000	+1.7%	114,362	-1.3%	3.11%	-1.0%
UNH	New	UNITEDHEALTH GRP INC	$20,306,000	–	51,972	–	2.86%	–
ODFL	Sell	OLD DOMINION FREIGHT	$17,490,000	+11.1%	61,163	-1.4%	2.47%	+8.1%
SPGI	Sell	S&P GLOBAL INC	$17,469,000	+2.4%	41,116	-1.1%	2.46%	-0.4%
BKNG	Buy	BOOKING HOLDINGS	$15,201,000	+10.4%	6,404	+1.8%	2.14%	+7.5%
GOOG	Sell	ALPHABET INC. CL C	$10,176,000	-0.8%	3,818	-6.7%	1.44%	-3.4%
USB	Sell	US BANCORP	$2,408,000	-8.2%	40,513	-12.0%	0.34%	-10.5%
BX	Sell	BLACKSTONE INC	$1,396,000	+15.0%	12,000	-4.0%	0.20%	+11.9%
JNJ	Sell	JOHNSON & JOHNSON COM	$989,000	-2.0%	6,125	-0.0%	0.14%	-4.8%
NLY	Sell	ANNALY CAPITAL MANAGEMENT INC	$804,000	-7.6%	95,500	-2.6%	0.11%	-10.3%
BP	Sell	BP PLC SPONSORED ADR	$444,000	+2.5%	16,250	-1.1%	0.06%	0.0%
BMY	Sell	BRISTOL-MYERS SQUIBB CO COM	$313,000	-16.5%	5,300	-5.8%	0.04%	-18.5%
FITB	Sell	FIFTH THIRD BANCORP	$212,000	-10.9%	5,000	-20.0%	0.03%	-11.8%
ALC	Exit	ALCON INC CHF	$0	–	-54,875	–	-0.56%	–

Q2 2021

			Value		Shares		↓ Weighting
GOOGL	New	ALPHABET INC. CL A	$54,490,000	–	22,316	–	7.90%	–
AAPL	New	APPLE	$51,984,000	–	379,562	–	7.53%	–
FB	New	FACEBOOK	$51,726,000	–	148,764	–	7.50%	–
EW	New	EDWARDS LIFESCIENCES	$50,078,000	–	483,536	–	7.26%	–
PYPL	New	PAYPAL HOLDINGS	$44,290,000	–	151,952	–	6.42%	–
MSI	New	MOTOROLA SOLUTIONS	$42,392,000	–	195,493	–	6.14%	–
TSCO	New	TRACTOR SUPPLY COMP	$39,580,000	–	212,731	–	5.74%	–
MSFT	New	MICROSOFT CORP	$36,119,000	–	133,336	–	5.24%	–
KEYS	New	KEYSIGHT TECH INC	$33,053,000	–	214,070	–	4.79%	–
V	New	VISA	$32,862,000	–	140,546	–	4.76%	–
CDW	New	CDW CORP	$31,776,000	–	181,945	–	4.60%	–
EA	New	ELECTRONIC ARTS INC	$28,551,000	–	198,511	–	4.14%	–
SBUX	New	STARBUCKS CORP	$28,435,000	–	254,324	–	4.12%	–
CPRT	New	COPART INC	$25,591,000	–	194,125	–	3.71%	–
PGR	New	PROGRESSIVE CO OHIO	$25,001,000	–	254,571	–	3.62%	–
FRC	New	FIRST REPUBLIC BANK	$21,686,000	–	115,871	–	3.14%	–
SPGI	New	S&P GLOBAL INC	$17,055,000	–	41,555	–	2.47%	–
ODFL	New	OLD DOMINION FREIGHT	$15,736,000	–	62,002	–	2.28%	–
TSM	New	TAIWAN SEMICONDUCTR F SPONSORE	$14,203,000	–	118,209	–	2.06%	–
BKNG	New	BOOKING HOLDINGS	$13,767,000	–	6,292	–	2.00%	–
GOOG	New	ALPHABET INC. CL C	$10,256,000	–	4,092	–	1.49%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$5,627,000	–	20,250	–	0.82%	–
ALC	New	ALCON INC CHF	$3,855,000	–	54,875	–	0.56%	–
USB	New	US BANCORP	$2,623,000	–	46,043	–	0.38%	–
BX	New	BLACKSTONE INC	$1,214,000	–	12,500	–	0.18%	–
T	New	AT&T INC COM	$1,057,000	–	36,750	–	0.15%	–
JNJ	New	JOHNSON &JOHNSON COM USD1.00	$1,009,000	–	6,126	–	0.15%	–
VZ	New	VERIZON COMMUNICATIONSINC	$896,000	–	16,000	–	0.13%	–
NLY	New	ANNALY CAPITAL MANAGEMENT INC	$870,000	–	98,000	–	0.13%	–
SLB	New	SCHLUMBERGER	$552,000	–	17,250	–	0.08%	–
AEE	New	AMEREN CORP COM USD0.01	$552,000	–	6,900	–	0.08%	–
ECL	New	ECOLAB INC	$514,000	–	2,500	–	0.07%	–
BP	New	BP PLC SPONSORED ADR	$433,000	–	16,425	–	0.06%	–
QCOM	New	QUALCOMM	$378,000	–	2,650	–	0.06%	–
ED	New	CONSOLIDATED EDISON INCCOM USD	$376,000	–	5,250	–	0.05%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$375,000	–	5,625	–	0.05%	–
BA	New	BOEING CO COM	$311,000	–	1,300	–	0.04%	–
KHC	New	KRAFT HEINZ CO COM	$234,000	–	5,750	–	0.03%	–
FITB	New	FIFTH THIRD BANCORP	$238,000	–	6,250	–	0.03%	–
PAYX	New	PAYCHEX INC COM USD0.01	$214,000	–	2,000	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
BMYRT	Exit	BRISTOL-MYERS SQUIBB RTS RIGHT	$0	–	-131,557	–	-0.05%	–
SLB	Exit	SCHLUMBERGER	$0	–	-19,825	–	-0.05%	–
QCOM	Exit	QUALCOMM	$0	–	-2,650	–	-0.05%	–
BP	Exit	BP PLC SPONSORED ADR	$0	–	-18,175	–	-0.05%	–
BA	Exit	BOEING CO COM USD5.00	$0	–	-2,050	–	-0.05%	–
TPR	Exit	TAPESTRY INC COM	$0	–	-21,250	–	-0.05%	–
ED	Exit	CONSOLIDATED EDISON INCCOM USD	$0	–	-5,250	–	-0.06%	–
ECL	Exit	ECOLAB INC	$0	–	-2,500	–	-0.08%	–
AEE	Exit	AMEREN CORP COM USD0.01	$0	–	-6,900	–	-0.09%	–
NLY	Exit	ANNALY CAPITAL MANAGEMENTINC C	$0	–	-98,000	–	-0.11%	–
T	Exit	AT&T INC COM USD1	$0	–	-32,000	–	-0.14%	–
JNJ	Exit	JOHNSON &JOHNSON COM USD1.00	$0	–	-6,300	–	-0.15%	–
VZ	Exit	VERIZON COMMUNICATIONSINC	$0	–	-16,000	–	-0.15%	–
BX	Exit	BLACKSTONE GROUP INC COMCL A	$0	–	-18,500	–	-0.15%	–
USB	Exit	U.S. BANCORP	$0	–	-52,793	–	-0.30%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-21,400	–	-0.72%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-4,204	–	-0.98%	–
FRC	Exit	FIRST REPUBLIC BANK SAN	$0	–	-139,827	–	-2.41%	–
ALC	Exit	ALCON INC F	$0	–	-305,660	–	-2.75%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-49,485	–	-2.82%	–
CPRT	Exit	COPART INC	$0	–	-235,688	–	-3.92%	–
KEYS	Exit	KEYSIGHT TECH INC	$0	–	-256,910	–	-4.01%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-305,048	–	-4.14%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-439,319	–	-4.19%	–
CDW	Exit	CDW CORP	$0	–	-223,339	–	-4.22%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-235,457	–	-4.86%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-160,696	–	-5.35%	–
MSI	Exit	MOTOROLA SOLUTIONS	$0	–	-237,250	–	-5.88%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-27,792	–	-6.44%	–
V	Exit	VISA	$0	–	-212,149	–	-6.71%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-230,701	–	-7.19%	–
FB	Exit	FACEBOOK	$0	–	-182,136	–	-7.54%	–
TSCO	Exit	TRACTOR SUPPLY COMP	$0	–	-337,196	–	-7.64%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-631,718	–	-7.98%	–
AAPL	Exit	APPLE	$0	–	-475,033	–	-8.70%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE	$55,012,000	-18.0%	475,033	+158.3%	8.70%	-23.5%
EW	Sell	EDWARDS LIFESCIENCES	$50,423,000	+9.1%	631,718	-5.5%	7.98%	+1.9%
TSCO	Sell	TRACTOR SUPPLY COMP	$48,333,000	+2.6%	337,196	-5.6%	7.64%	-4.2%
FB	Sell	FACEBOOK	$47,701,000	-4.2%	182,136	-17.0%	7.54%	-10.6%
PYPL	Sell	PAYPAL HOLDINGS	$45,454,000	+7.9%	230,701	-4.5%	7.19%	+0.7%
V	Sell	VISA	$42,422,000	-1.8%	212,149	-5.2%	6.71%	-8.4%
GOOGL	Sell	ALPHABET INC. CL A	$40,731,000	-1.9%	27,792	-5.1%	6.44%	-8.4%
MSI	Buy	MOTOROLA SOLUTIONS	$37,202,000	+23.3%	237,250	+10.2%	5.88%	+15.1%
MSFT	Buy	MICROSOFT CORP	$33,798,000	+104.3%	160,696	+97.7%	5.35%	+90.7%
EA	Sell	ELECTRONIC ARTS INC	$30,705,000	-5.7%	235,457	-4.5%	4.86%	-12.0%
CDW	Buy	CDW CORP	$26,694,000	+19.8%	223,339	+16.4%	4.22%	+11.8%
BMY	Buy	BRISTOL-MYERS SQUIBB	$26,485,000	+20.5%	439,319	+17.5%	4.19%	+12.5%
SBUX	Sell	STARBUCKS CORP	$26,209,000	+10.2%	305,048	-5.6%	4.14%	+2.9%
KEYS	Buy	KEYSIGHT TECH INC	$25,377,000	+32.8%	256,910	+35.5%	4.01%	+23.9%
CPRT	Buy	COPART INC	$24,784,000	+68.7%	235,688	+33.6%	3.92%	+57.5%
SPGI	Sell	S&P GLOBAL INC	$17,843,000	+4.1%	49,485	-4.9%	2.82%	-2.8%
ALC	Sell	ALCON INC F	$17,407,000	-5.2%	305,660	-4.6%	2.75%	-11.5%
FRC	New	FIRST REPUBLIC BANK SAN	$15,248,000	–	139,827	–	2.41%	–
GOOG	Sell	ALPHABET INC. CL C	$6,178,000	+2.4%	4,204	-1.5%	0.98%	-4.4%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$4,556,000	+10.7%	21,400	-7.2%	0.72%	+3.4%
BX	Sell	BLACKSTONE GROUP INC COMCL A	$965,000	-13.8%	18,500	-6.3%	0.15%	-19.5%
T	Sell	AT&T INC COM USD1	$912,000	-9.3%	32,000	-3.8%	0.14%	-15.3%
NLY	Buy	ANNALY CAPITAL MANAGEMENTINC C	$697,000	+9.9%	98,000	+1.3%	0.11%	+2.8%
TPR	Sell	TAPESTRY INC COM	$332,000	+11.4%	21,250	-5.6%	0.05%	+6.0%
BP	Sell	BP PLC SPONSORED ADR	$317,000	-38.0%	18,175	-17.1%	0.05%	-42.5%
SLB	Sell	SCHLUMBERGER	$308,000	-17.4%	19,825	-2.5%	0.05%	-22.2%
QCOM	Sell	QUALCOMM	$311,000	-22.4%	2,650	-39.8%	0.05%	-27.9%
BMYRT	Sell	BRISTOL-MYERS SQUIBB RTS RIGHT	$295,000	-38.7%	131,557	-2.4%	0.05%	-42.7%
MN	Exit	MANNING &NAPIER INC CLA	$0	–	-13,000	–	-0.01%	–
PAYX	Exit	PAYCHEX INC COM USD0.01	$0	–	-3,500	–	-0.04%	–
TD	Exit	TORONTO DOMINION BK ONT COM NE	$0	–	-6,225	–	-0.05%	–
NVDA	Exit	NVIDIA CORP	$0	–	-40,818	–	-2.63%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$67,083,000	–	183,893	–	11.37%	–
FB	New	FACEBOOK	$49,818,000	–	219,400	–	8.44%	–
TSCO	New	TRACTOR SUPPLY COMP	$47,096,000	–	357,363	–	7.98%	–
EW	New	EDWARDS LIFESCIENCES	$46,202,000	–	668,542	–	7.83%	–
V	New	VISA	$43,216,000	–	223,728	–	7.32%	–
PYPL	New	PAYPAL HOLDINGS	$42,110,000	–	241,696	–	7.14%	–
GOOGL	New	ALPHABET INC. CL A	$41,518,000	–	29,279	–	7.04%	–
EA	New	ELECTRONIC ARTS INC	$32,551,000	–	246,511	–	5.52%	–
MSI	New	MOTOROLA SOLUTIONS	$30,174,000	–	215,336	–	5.11%	–
SBUX	New	STARBUCKS CORP	$23,777,000	–	323,117	–	4.03%	–
CDW	New	CDW CORP	$22,283,000	–	191,809	–	3.78%	–
BMY	New	BRISTOL-MYERS SQUIBB	$21,977,000	–	373,781	–	3.72%	–
KEYS	New	KEYSIGHT TECH INC	$19,112,000	–	189,650	–	3.24%	–
ALC	New	ALCON INC F	$18,361,000	–	320,342	–	3.11%	–
SPGI	New	S&P GLOBAL INC	$17,138,000	–	52,019	–	2.90%	–
MSFT	New	MICROSOFT CORP	$16,543,000	–	81,296	–	2.80%	–
NVDA	New	NVIDIA CORP	$15,506,000	–	40,818	–	2.63%	–
CPRT	New	COPART INC	$14,689,000	–	176,404	–	2.49%	–
GOOG	New	ALPHABET INC. CL C	$6,034,000	–	4,269	–	1.02%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$4,114,000	–	23,050	–	0.70%	–
USB	New	U.S. BANCORP	$1,943,000	–	52,793	–	0.33%	–
BX	New	BLACKSTONE GROUP INC COMCL A	$1,119,000	–	19,750	–	0.19%	–
T	New	AT&T INC COM USD1	$1,005,000	–	33,250	–	0.17%	–
JNJ	New	JOHNSON &JOHNSON COM USD1.00	$885,000	–	6,300	–	0.15%	–
VZ	New	VERIZON COMMUNICATIONSINC	$882,000	–	16,000	–	0.15%	–
NLY	New	ANNALY CAPITAL MANAGEMENTINC C	$634,000	–	96,750	–	0.11%	–
BP	New	BP PLC SPONSORED ADR	$511,000	–	21,925	–	0.09%	–
ECL	New	ECOLAB INC	$497,000	–	2,500	–	0.08%	–
AEE	New	AMEREN CORP COM USD0.01	$485,000	–	6,900	–	0.08%	–
BMYRT	New	BRISTOL-MYERS SQUIBB RTS RIGHT	$481,000	–	134,729	–	0.08%	–
QCOM	New	QUALCOMM	$401,000	–	4,400	–	0.07%	–
BA	New	BOEING CO COM USD5.00	$375,000	–	2,050	–	0.06%	–
ED	New	CONSOLIDATED EDISON INCCOM USD	$377,000	–	5,250	–	0.06%	–
SLB	New	SCHLUMBERGER	$373,000	–	20,325	–	0.06%	–
TPR	New	TAPESTRY INC COM	$298,000	–	22,500	–	0.05%	–
TD	New	TORONTO DOMINION BK ONT COM NE	$277,000	–	6,225	–	0.05%	–
PAYX	New	PAYCHEX INC COM USD0.01	$265,000	–	3,500	–	0.04%	–
MN	New	MANNING &NAPIER INC CLA	$37,000	–	13,000	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
MN	Exit	MANNING & NAPIER INC CL A	$0	–	-23,000	–	-0.00%	–
TD	Exit	TORONTO DOMINION BK ONT COM NE	$0	–	-6,000	–	-0.03%	–
BP	Exit	BP PLC SPONSORED ADR	$0	–	-12,550	–	-0.04%	–
BA	Exit	BOEING CO COM USD5.00	$0	–	-1,250	–	-0.04%	–
ECL	Exit	ECOLAB INC COM	$0	–	-2,500	–	-0.04%	–
ED	Exit	CONSOLIDATED EDISON INCCOM USD	$0	–	-5,250	–	-0.04%	–
PAYX	Exit	PAYCHEX INC COM USD0.01	$0	–	-6,150	–	-0.04%	–
AEE	Exit	AMEREN CORP COM USD0.01	$0	–	-6,900	–	-0.05%	–
NLY	Exit	ANNALY CAP MGMT INC COM	$0	–	-69,250	–	-0.05%	–
BX	Exit	BLACKSTONE GROUP INC COMCL A	$0	–	-13,000	–	-0.06%	–
JNJ	Exit	JOHNSON &JOHNSON COM USD1.00	$0	–	-6,300	–	-0.07%	–
T	Exit	AT&T INC COM	$0	–	-22,375	–	-0.08%	–
SLB	Exit	SCHLUMBERGER	$0	–	-29,175	–	-0.09%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-17,250	–	-0.09%	–
USB	Exit	US BANCORP DEL COMNEW	$0	–	-50,663	–	-0.25%	–
QCOM	Exit	QUALCOMM	$0	–	-48,075	–	-0.32%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-90,925	–	-0.34%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-7,526	–	-0.81%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-61,113	–	-1.13%	–
CDW	Exit	CDW CORP	$0	–	-168,923	–	-1.84%	–
NVDA	Exit	NVIDIA CORP	$0	–	-141,067	–	-2.18%	–
ULTA	Exit	ULTA BEAUTY INC.	$0	–	-108,539	–	-2.41%	–
MSI	Exit	MOTOROLA SOLUTIONS	$0	–	-205,054	–	-3.10%	–
ALC	Exit	ALCON INC F	$0	–	-652,367	–	-3.37%	–
CELG	Exit	CELGENE CORP	$0	–	-393,967	–	-3.47%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-421,528	–	-3.66%	–
CHRW	Exit	C.H. ROBINSON WORLDWIDE	$0	–	-495,718	–	-3.72%	–
ROST	Exit	ROSS STORES	$0	–	-384,636	–	-3.74%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-557,860	–	-4.37%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-527,862	–	-4.85%	–
FAST	Exit	FASTENAL CO	$0	–	-1,867,489	–	-5.41%	–
TSCO	Exit	TRACTOR SUPPLY COMP	$0	–	-695,355	–	-5.57%	–
BKNG	Exit	BOOKING HOLDINGS	$0	–	-35,179	–	-6.12%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-64,960	–	-7.03%	–
FB	Exit	FACEBOOK	$0	–	-483,013	–	-7.62%	–
V	Exit	VISA	$0	–	-571,932	–	-8.72%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-478,789	–	-9.33%	–
AAPL	Exit	APPLE	$0	–	-498,382	–	-9.89%	–

Q3 2019

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE	$111,621,000	+4.9%	498,382	-7.3%	9.89%	+9.8%
EW	Sell	EDWARDS LIFESCIENCES	$105,289,000	+9.5%	478,789	-8.0%	9.33%	+14.7%
V	Sell	VISA	$98,377,000	-6.7%	571,932	-5.9%	8.72%	-2.3%
FB	Sell	FACEBOOK	$86,014,000	-13.8%	483,013	-6.5%	7.62%	-9.7%
GOOGL	Buy	ALPHABET INC. CL A	$79,324,000	+49.7%	64,960	+32.8%	7.03%	+56.8%
BKNG	Sell	BOOKING HOLDINGS	$69,041,000	-2.3%	35,179	-6.6%	6.12%	+2.3%
TSCO	Sell	TRACTOR SUPPLY COMP	$62,887,000	-22.6%	695,355	-6.9%	5.57%	-19.0%
FAST	Sell	FASTENAL CO	$61,009,000	-6.3%	1,867,489	-6.5%	5.41%	-1.9%
PYPL	Sell	PAYPAL HOLDINGS	$54,680,000	-15.2%	527,862	-6.4%	4.85%	-11.2%
SBUX	Sell	STARBUCKS CORP	$49,325,000	-1.1%	557,860	-6.3%	4.37%	+3.5%
ROST	Sell	ROSS STORES	$42,251,000	+3.4%	384,636	-6.7%	3.74%	+8.3%
CHRW	Sell	C.H. ROBINSON WORLDWIDE	$42,025,000	-22.0%	495,718	-22.4%	3.72%	-18.3%
EA	Buy	ELECTRONIC ARTS INC	$41,232,000	+49.7%	421,528	+55.0%	3.66%	+56.8%
CELG	Sell	CELGENE CORP	$39,120,000	-2.3%	393,967	-9.1%	3.47%	+2.3%
ALC	Buy	ALCON INC F	$38,025,000	+35.9%	652,367	+44.6%	3.37%	+42.3%
MSI	Sell	MOTOROLA SOLUTIONS	$34,942,000	-0.6%	205,054	-2.8%	3.10%	+4.1%
ULTA	Sell	ULTA BEAUTY INC.	$27,203,000	-55.3%	108,539	-38.1%	2.41%	-53.2%
NVDA	New	NVIDIA CORP	$24,555,000	–	141,067	–	2.18%	–
CDW	New	CDW CORP	$20,817,000	–	168,923	–	1.84%	–
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$12,712,000	-82.3%	61,113	-81.9%	1.13%	-81.5%
GOOG	Sell	ALPHABET INC. CL C	$9,174,000	+7.7%	7,526	-4.5%	0.81%	+12.8%
SCHW	Sell	CHARLES SCHWAB	$3,803,000	-3.8%	90,925	-7.6%	0.34%	+0.6%
QCOM	Sell	QUALCOMM	$3,667,000	-4.7%	48,075	-4.9%	0.32%	-0.3%
USB	Sell	US BANCORP DEL COMNEW	$2,803,000	-11.0%	50,663	-15.8%	0.25%	-7.1%
SLB	Sell	SCHLUMBERGER	$996,000	-24.9%	29,175	-12.6%	0.09%	-21.4%
T	Sell	AT&T INC COM	$846,000	+6.4%	22,375	-5.8%	0.08%	+11.9%
BX	Sell	BLACKSTONE GROUP INC COMCL A	$634,000	+3.9%	13,000	-5.5%	0.06%	+7.7%
NLY	Buy	ANNALY CAP MGMT INC COM	$609,000	+10.3%	69,250	+14.5%	0.05%	+14.9%
BP	Buy	BP PLC SPONSORED ADR	$476,000	-8.1%	12,550	+1.0%	0.04%	-4.5%
TD	Sell	TORONTO DOMINION BK ONT COM NE	$349,000	-4.6%	6,000	-4.4%	0.03%	0.0%
ABMD	Exit	ABIOMED INC COM	$0	–	-1,000	–	-0.02%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-44,800	–	-0.24%	–

Q2 2019

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$106,420,000	–	537,700	–	9.01%	–
V	New	VISA	$105,446,000	–	607,588	–	8.92%	–
FB	New	FACEBOOK	$99,732,000	–	516,753	–	8.44%	–
EW	New	EDWARDS LIFESCIENCES	$96,117,000	–	520,293	–	8.14%	–
TSCO	New	TRACTOR SUPPLY COMP	$81,255,000	–	746,837	–	6.88%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$71,924,000	–	337,406	–	6.09%	–
BKNG	New	BOOKING HOLDINGS	$70,643,000	–	37,683	–	5.98%	–
FAST	New	FASTENAL CO	$65,099,000	–	1,997,579	–	5.51%	–
PYPL	New	PAYPAL HOLDINGS	$64,516,000	–	563,666	–	5.46%	–
ULTA	New	ULTA BEAUTY INC.	$60,868,000	–	175,473	–	5.15%	–
CHRW	New	C.H. ROBINSON WORLDWIDE	$53,883,000	–	638,817	–	4.56%	–
GOOGL	New	ALPHABET INC. CL A	$52,975,000	–	48,925	–	4.48%	–
SBUX	New	STARBUCKS CORP	$49,886,000	–	595,104	–	4.22%	–
ROST	New	ROSS STORES	$40,847,000	–	412,105	–	3.46%	–
CELG	New	CELGENE CORP	$40,049,000	–	433,260	–	3.39%	–
MSI	New	MOTOROLA SOLUTIONS	$35,159,000	–	210,883	–	2.98%	–
ALC	New	ALCON INC F	$27,985,000	–	451,024	–	2.37%	–
EA	New	ELECTRONIC ARTS INC	$27,544,000	–	272,032	–	2.33%	–
GOOG	New	ALPHABET INC. CL C	$8,516,000	–	7,879	–	0.72%	–
SCHW	New	CHARLES SCHWAB	$3,954,000	–	98,400	–	0.34%	–
QCOM	New	QUALCOMM	$3,847,000	–	50,575	–	0.33%	–
USB	New	US BANCORP DEL COMNEW	$3,151,000	–	60,138	–	0.27%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$2,839,000	–	44,800	–	0.24%	–
SLB	New	SCHLUMBERGER	$1,326,000	–	33,375	–	0.11%	–
VZ	New	VERIZON COMMUNICATIONS	$985,000	–	17,250	–	0.08%	–
JNJ	New	JOHNSON &JOHNSON COM USD1.00	$877,000	–	6,300	–	0.07%	–
T	New	AT&T INC COM	$795,000	–	23,750	–	0.07%	–
BX	New	BLACKSTONE GROUP INC COMCL A	$610,000	–	13,750	–	0.05%	–
NLY	New	ANNALY CAP MGMT INC COM	$552,000	–	60,500	–	0.05%	–
BP	New	BP PLC SPONSORED ADR	$518,000	–	12,425	–	0.04%	–
AEE	New	AMEREN CORP COM USD0.01	$518,000	–	6,900	–	0.04%	–
PAYX	New	PAYCHEX INC COM USD0.01	$506,000	–	6,150	–	0.04%	–
ECL	New	ECOLAB INC COM	$493,000	–	2,500	–	0.04%	–
BA	New	BOEING CO COM USD5.00	$455,000	–	1,250	–	0.04%	–
ED	New	CONSOLIDATED EDISON INCCOM USD	$460,000	–	5,250	–	0.04%	–
TD	New	TORONTO DOMINION BANKONT COM N	$366,000	–	6,275	–	0.03%	–
ABMD	New	ABIOMED INC COM	$260,000	–	1,000	–	0.02%	–
MN	New	MANNING & NAPIER INC CL A	$40,000	–	23,000	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
MN	Exit	MANNING & NAPIER INC CL A	$0	–	-28,000	–	-0.00%	–
NLY	Exit	ANNALY CAP MGMT INC COM	$0	–	-20,500	–	-0.01%	–
TD	Exit	TORONTO DOMINION BK ONT COM NE	$0	–	-5,700	–	-0.02%	–
ED	Exit	CONSOLIDATED EDISON INC COM	$0	–	-5,250	–	-0.02%	–
ECL	Exit	ECOLAB INC COM	$0	–	-2,500	–	-0.02%	–
AEE	Exit	AMEREN CORP COM	$0	–	-7,400	–	-0.02%	–
BA	Exit	BOEING CO COM	$0	–	-1,250	–	-0.02%	–
PAYX	Exit	PAYCHEX INC COM	$0	–	-6,650	–	-0.02%	–
BP	Exit	BP PLC SPONSORED ADR	$0	–	-11,425	–	-0.03%	–
T	Exit	AT&T INC COM	$0	–	-17,598	–	-0.03%	–
KHC	Exit	KRAFT HEINZ CO COM	$0	–	-14,000	–	-0.04%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-6,300	–	-0.04%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-19,125	–	-0.05%	–
BX	Exit	BLACKSTONE GROUP L P COM UNIT	$0	–	-35,075	–	-0.07%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-67,638	–	-0.18%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-5,219	–	-0.31%	–
ULTA	Exit	ULTA BEAUTY INC.	$0	–	-174,795	–	-2.47%	–
CLB	Exit	CORE LABS	$0	–	-426,000	–	-2.47%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-766,294	–	-2.96%	–
CHRW	Exit	C.H. ROBINSON WORLDWIDE	$0	–	-684,020	–	-3.36%	–
CELG	Exit	CELGENE CORP	$0	–	-757,374	–	-3.40%	–
ROST	Exit	ROSS STORES	$0	–	-736,562	–	-3.66%	–
ODFL	Exit	OLD DOMINION FREIGHT	$0	–	-457,407	–	-3.70%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-1,523,634	–	-3.75%	–
SLB	Exit	SCHLUMBERGER	$0	–	-1,314,269	–	-4.01%	–
FAST	Exit	FASTENAL CO	$0	–	-1,421,608	–	-4.13%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-942,628	–	-4.15%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-85,726	–	-5.19%	–
BKNG	Exit	BOOKING HOLDINGS	$0	–	-54,541	–	-5.42%	–
QCOM	Exit	QUALCOMM	$0	–	-1,537,162	–	-5.55%	–
FB	Exit	FACEBOOK	$0	–	-690,464	–	-5.69%	–
TSCO	Exit	TRACTOR SUPPLY COMP	$0	–	-1,278,342	–	-5.82%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-818,960	–	-7.15%	–
V	Exit	VISA	$0	–	-981,440	–	-7.38%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-825,531	–	-8.86%	–
AAPL	Exit	APPLE	$0	–	-881,751	–	-9.98%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE	$199,045,000	+8.1%	881,751	-11.3%	9.98%	+7.3%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$176,753,000	+3.9%	825,531	-9.4%	8.86%	+3.1%
V	Sell	VISA	$147,303,000	+2.6%	981,440	-9.5%	7.38%	+1.8%
EW	Sell	EDWARDS LIFESCIENCES	$142,580,000	+9.9%	818,960	-8.1%	7.15%	+9.1%
TSCO	Sell	TRACTOR SUPPLY COMP	$116,175,000	-7.2%	1,278,342	-21.9%	5.82%	-7.9%
FB	Sell	FACEBOOK	$113,552,000	-20.3%	690,464	-5.9%	5.69%	-20.9%
QCOM	Sell	QUALCOMM	$110,721,000	+11.4%	1,537,162	-13.2%	5.55%	+10.5%
BKNG	Sell	BOOKING HOLDINGS	$108,209,000	-9.4%	54,541	-7.5%	5.42%	-10.1%
GOOGL	Sell	ALPHABET INC. CL A	$103,478,000	-4.3%	85,726	-10.5%	5.19%	-5.0%
PYPL	Sell	PAYPAL HOLDINGS	$82,799,000	-4.0%	942,628	-9.0%	4.15%	-4.8%
FAST	Sell	FASTENAL CO	$82,481,000	+9.6%	1,421,608	-9.0%	4.13%	+8.8%
SLB	Sell	SCHLUMBERGER	$80,064,000	-18.7%	1,314,269	-10.6%	4.01%	-19.3%
SCHW	Sell	CHARLES SCHWAB	$74,886,000	-9.4%	1,523,634	-5.8%	3.75%	-10.1%
ODFL	New	OLD DOMINION FREIGHT	$73,761,000	–	457,407	–	3.70%	–
ROST	Sell	ROSS STORES	$72,992,000	-25.7%	736,562	-36.5%	3.66%	-26.2%
CELG	Sell	CELGENE CORP	$67,776,000	-1.3%	757,374	-12.4%	3.40%	-2.0%
CHRW	New	C.H. ROBINSON WORLDWIDE	$66,979,000	–	684,020	–	3.36%	–
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS	$59,118,000	-10.2%	766,294	-8.0%	2.96%	-10.9%
CLB	Sell	CORE LABS	$49,343,000	-46.0%	426,000	-41.1%	2.47%	-46.4%
ULTA	New	ULTA BEAUTY INC.	$49,312,000	–	174,795	–	2.47%	–
GOOG	Sell	ALPHABET INC. CL C	$6,228,000	+2.9%	5,219	-3.8%	0.31%	+2.0%
BX	Sell	BLACKSTONE GROUP L P COM UNIT	$1,335,000	+7.3%	35,075	-9.4%	0.07%	+6.3%
VZ	Buy	VERIZON COMMUNICATIONS INC COM	$1,021,000	+10.5%	19,125	+4.1%	0.05%	+8.5%
JNJ	Buy	JOHNSON & JOHNSON COM	$870,000	+18.5%	6,300	+4.1%	0.04%	+18.9%
KHC	Sell	KRAFT HEINZ CO COM	$771,000	-99.0%	14,000	-98.8%	0.04%	-99.0%
T	Buy	AT&T INC COM	$590,000	+32.0%	17,598	+26.2%	0.03%	+30.4%
BP	Buy	BP PLC SPONSORED ADR	$526,000	+13.4%	11,425	+12.3%	0.03%	+13.0%
PAYX	Sell	PAYCHEX INC COM	$489,000	-3.2%	6,650	-10.1%	0.02%	-3.8%
AEE	Sell	AMEREN CORP COM	$467,000	-11.2%	7,400	-14.5%	0.02%	-14.8%
ED	Sell	CONSOLIDATED EDISON INC COM	$399,000	-23.6%	5,250	-21.6%	0.02%	-23.1%
TD	Buy	TORONTO DOMINION BK ONT COM NE	$346,000	+10.5%	5,700	+5.1%	0.02%	+6.2%
NLY	Sell	ANNALY CAP MGMT INC COM	$209,000	-9.9%	20,500	-9.4%	0.01%	-16.7%
MN	Buy	MANNING & NAPIER INC CL A	$82,000	-2.4%	28,000	+2.5%	0.00%	0.0%
MINT	Exit	PIMCO ETF TRUST ETF ENHANCED S	$0	–	-2,780	–	-0.01%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC COM	$184,111,000	–	994,612	–	9.30%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CL	$170,107,000	–	911,375	–	8.59%	–
V	New	VISA INC COM CL A	$143,587,000	–	1,084,090	–	7.25%	–
FB	New	FACEBOOK INC CL A	$142,550,000	–	733,589	–	7.20%	–
EW	New	EDWARDS LIFESCIENCES CORP COM	$129,762,000	–	891,410	–	6.55%	–
TSCO	New	TRACTOR SUPPLY CO COM	$125,205,000	–	1,636,895	–	6.32%	–
BKNG	New	BOOKING HLDGS INC COM	$119,492,000	–	58,948	–	6.03%	–
GOOGL	New	ALPHABET INC CAP STK CL A	$108,108,000	–	95,740	–	5.46%	–
QCOM	New	QUALCOMM INC COM	$99,434,000	–	1,771,829	–	5.02%	–
SLB	New	SCHLUMBERGER LTD COM	$98,490,000	–	1,469,353	–	4.97%	–
ROST	New	ROSS STORES INC COM	$98,243,000	–	1,159,213	–	4.96%	–
CLB	New	CORE LABORATORIES N V COM	$91,312,000	–	723,494	–	4.61%	–
PYPL	New	PAYPAL HLDGS INC COM	$86,287,000	–	1,036,239	–	4.36%	–
SCHW	New	SCHWAB CHARLES CORP NEW COM	$82,672,000	–	1,617,874	–	4.18%	–
FAST	New	FASTENAL CO COM	$75,224,000	–	1,562,957	–	3.80%	–
KHC	New	KRAFT HEINZ CO COM	$74,687,000	–	1,188,926	–	3.77%	–
CELG	New	CELGENE CORP COM	$68,637,000	–	864,236	–	3.47%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$65,819,000	–	833,261	–	3.32%	–
GOOG	New	ALPHABET INC. CL C	$6,054,000	–	5,427	–	0.31%	–
USB	New	US BANCORP DEL COM NEW	$3,383,000	–	67,638	–	0.17%	–
BX	New	BLACKSTONE GROUP L P COM UNIT	$1,244,000	–	38,700	–	0.06%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$924,000	–	18,375	–	0.05%	–
JNJ	New	JOHNSON & JOHNSON COM	$734,000	–	6,050	–	0.04%	–
AEE	New	AMEREN CORP COM	$526,000	–	8,650	–	0.03%	–
PAYX	New	PAYCHEX INC COM	$505,000	–	7,400	–	0.03%	–
ED	New	CONSOLIDATED EDISON INC COM	$522,000	–	6,700	–	0.03%	–
T	New	AT&T INC COM	$447,000	–	13,950	–	0.02%	–
BP	New	BP PLC SPONSORED ADR	$464,000	–	10,175	–	0.02%	–
BA	New	BOEING CO COM	$419,000	–	1,250	–	0.02%	–
ECL	New	ECOLAB INC COM	$350,000	–	2,500	–	0.02%	–
TD	New	TORONTO DOMINION BK ONT COM NE	$313,000	–	5,425	–	0.02%	–
MINT	New	PIMCO ETF TRUST ETF ENHANCED S	$282,000	–	2,780	–	0.01%	–
NLY	New	ANNALY CAP MGMT INC COM	$232,000	–	22,625	–	0.01%	–
MN	New	MANNING & NAPIER INC CL A	$84,000	–	27,321	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
MN	Exit	MANNING & NAPIER INC CL A	$0	–	-41,000	–	-0.01%	–
CAFD	Exit	8POINT3 ENERGY PARTNERSLP CL A	$0	–	-11,500	–	-0.01%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-2,866	–	-0.01%	–
PEP	Exit	PEPSICO INC	$0	–	-2,625	–	-0.01%	–
NLY	Exit	ANNALY CAP MGMT INC COM	$0	–	-25,875	–	-0.01%	–
BA	Exit	BOEING CO COM	$0	–	-1,250	–	-0.01%	–
ECL	Exit	ECOLAB INC COM	$0	–	-2,500	–	-0.01%	–
BP	Exit	BP P L C SPONSORED ADR (FRM BP	$0	–	-10,925	–	-0.01%	–
T	Exit	AT&T INC	$0	–	-11,400	–	-0.02%	–
PAYX	Exit	PAYCHEX INC COM	$0	–	-11,400	–	-0.02%	–
THS	Exit	TREEHOUSE FOODS	$0	–	-10,350	–	-0.02%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-5,750	–	-0.02%	–
ED	Exit	CONSOLIDATED EDISON INC	$0	–	-11,275	–	-0.03%	–
AEE	Exit	AMEREN CORP	$0	–	-17,125	–	-0.03%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-21,875	–	-0.04%	–
BX	Exit	BLACKSTONE GROUP L P COM UNIT	$0	–	-45,575	–	-0.05%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-46,900	–	-0.10%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-73,363	–	-0.13%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-18,754	–	-0.61%	–
TJX	Exit	TJX COMPANIES	$0	–	-1,288,015	–	-3.24%	–
CELG	Exit	CELGENE CORP	$0	–	-676,776	–	-3.37%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-1,373,146	–	-3.40%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-2,327,760	–	-3.47%	–
CLB	Exit	CORE LABS	$0	–	-1,130,193	–	-3.80%	–
VRSK	Exit	VERISK ANALYTICS	$0	–	-1,400,966	–	-3.98%	–
KHC	Exit	KRAFT HEINZ	$0	–	-1,682,599	–	-4.45%	–
ROST	Exit	ROSS STORES	$0	–	-2,030,449	–	-4.47%	–
EW	Exit	EDWARDS LIFESCIENCES	$0	–	-1,343,047	–	-5.01%	–
SLB	Exit	SCHLUMBERGER	$0	–	-2,154,457	–	-5.13%	–
QCOM	Exit	QUALCOMM	$0	–	-3,008,360	–	-5.32%	–
PCLN	Exit	PRICELINE	$0	–	-92,096	–	-5.75%	–
FAST	Exit	FASTENAL CO	$0	–	-3,704,395	–	-5.76%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-2,722,126	–	-5.94%	–
TSCO	Exit	TRACTOR SUPPLY COMP	$0	–	-2,767,593	–	-5.97%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-192,996	–	-6.41%	–
V	Exit	VISA	$0	–	-1,838,646	–	-6.60%	–
AAPL	Exit	APPLE	$0	–	-1,453,068	–	-7.64%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-1,460,308	–	-9.13%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$267,702,000	-9.5%	1,460,308	-16.4%	9.13%	+0.7%
AAPL	Sell	APPLE	$223,945,000	-9.7%	1,453,068	-15.7%	7.64%	+0.5%
V	Sell	VISA	$193,497,000	-7.4%	1,838,646	-17.5%	6.60%	+3.1%
GOOGL	Sell	ALPHABET INC. CL A	$187,922,000	-5.8%	192,996	-10.1%	6.41%	+4.8%
TSCO	Buy	TRACTOR SUPPLY COMP	$175,160,000	+26.4%	2,767,593	+8.3%	5.97%	+40.7%
PYPL	Sell	PAYPAL HOLDINGS	$174,296,000	-7.2%	2,722,126	-22.2%	5.94%	+3.3%
FAST	Buy	FASTENAL CO	$168,845,000	+11.7%	3,704,395	+6.6%	5.76%	+24.4%
PCLN	Sell	PRICELINE	$168,610,000	-24.7%	92,096	-23.1%	5.75%	-16.1%
QCOM	Sell	QUALCOMM	$155,952,000	-13.7%	3,008,360	-8.1%	5.32%	-3.9%
SLB	Sell	SCHLUMBERGER	$150,293,000	-6.2%	2,154,457	-11.4%	5.13%	+4.5%
EW	Buy	EDWARDS LIFESCIENCES	$146,807,000	+44.1%	1,343,047	+55.9%	5.01%	+60.5%
ROST	Buy	ROSS STORES	$131,104,000	+19.2%	2,030,449	+6.5%	4.47%	+32.7%
KHC	Sell	KRAFT HEINZ	$130,484,000	-36.8%	1,682,599	-30.2%	4.45%	-29.7%
VRSK	Sell	VERISK ANALYTICS	$116,546,000	-14.3%	1,400,966	-13.1%	3.98%	-4.6%
CLB	Sell	CORE LABS	$111,549,000	-12.7%	1,130,193	-10.5%	3.80%	-2.8%
SCHW	Sell	CHARLES SCHWAB	$101,815,000	-15.3%	2,327,760	-16.8%	3.47%	-5.6%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS	$99,607,000	-11.2%	1,373,146	-18.7%	3.40%	-1.1%
CELG	Sell	CELGENE CORP	$98,686,000	-4.9%	676,776	-15.3%	3.37%	+5.9%
TJX	Sell	TJX COMPANIES	$94,964,000	-12.4%	1,288,015	-14.2%	3.24%	-2.4%
GOOG	Sell	ALPHABET INC. CL C	$17,987,000	-13.2%	18,754	-17.7%	0.61%	-3.3%
USB	Sell	US BANCORP DEL COM NEW	$3,931,000	-1.5%	73,363	-4.6%	0.13%	+9.8%
ESRX	Sell	EXPRESS SCRIPTS	$2,969,000	-27.2%	46,900	-26.5%	0.10%	-19.2%
BX	Sell	BLACKSTONE GROUP L P COM UNIT	$1,520,000	-1.0%	45,575	-1.1%	0.05%	+10.6%
VZ	Buy	VERIZON COMMUNICATIONS	$1,082,000	+13.8%	21,875	+2.7%	0.04%	+27.6%
AEE	Sell	AMEREN CORP	$990,000	-1.4%	17,125	-6.8%	0.03%	+9.7%
ED	Sell	CONSOLIDATED EDISON INC	$909,000	-1.7%	11,275	-1.5%	0.03%	+10.7%
THS	Sell	TREEHOUSE FOODS	$701,000	-99.3%	10,350	-99.2%	0.02%	-99.3%
PAYX	Sell	PAYCHEX INC COM	$683,000	+0.9%	11,400	-4.2%	0.02%	+9.5%
T	Buy	AT&T INC	$446,000	+4.4%	11,400	+0.7%	0.02%	+15.4%
BP	New	BP P L C SPONSORED ADR (FRM BP	$419,000	–	10,925	–	0.01%	–
ECL	Sell	ECOLAB INC COM	$321,000	-57.2%	2,500	-55.8%	0.01%	-52.2%
NLY	Sell	ANNALY CAP MGMT INC COM	$315,000	-17.3%	25,875	-18.2%	0.01%	-8.3%
XOM	New	EXXON MOBIL CORP	$234,000	–	2,866	–	0.01%	–
MN	Sell	MANNING & NAPIER INC CL A	$161,000	-33.7%	41,000	-26.8%	0.01%	-28.6%
NOV	Exit	NATIONAL-OILWELL VARCO	$0	–	-10,325	–	-0.01%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY CL B	$295,965,000	–	1,747,455	–	9.06%	–
AAPL	New	APPLE	$248,099,000	–	1,722,681	–	7.60%	–
PCLN	New	PRICELINE	$223,902,000	–	119,701	–	6.86%	–
V	New	VISA	$208,924,000	–	2,227,827	–	6.40%	–
KHC	New	KRAFT HEINZ	$206,588,000	–	2,412,310	–	6.33%	–
GOOGL	New	ALPHABET INC. CL A	$199,595,000	–	214,694	–	6.11%	–
PYPL	New	PAYPAL HOLDINGS	$187,866,000	–	3,500,432	–	5.75%	–
QCOM	New	QUALCOMM	$180,747,000	–	3,273,233	–	5.54%	–
SLB	New	SCHLUMBERGER	$160,184,000	–	2,432,953	–	4.91%	–
FAST	New	FASTENAL CO	$151,215,000	–	3,473,842	–	4.63%	–
TSCO	New	TRACTOR SUPPLY CO	$138,594,000	–	2,556,651	–	4.24%	–
VRSK	New	VERISK ANALYTICS	$136,046,000	–	1,612,518	–	4.17%	–
CLB	New	CORE LABS	$127,829,000	–	1,262,264	–	3.92%	–
SCHW	New	CHARLES SCHWAB	$120,152,000	–	2,796,859	–	3.68%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$112,172,000	–	1,689,346	–	3.44%	–
ROST	New	ROSS STORES	$110,031,000	–	1,905,965	–	3.37%	–
TJX	New	TJX COMPANIES	$108,371,000	–	1,501,633	–	3.32%	–
THS	New	TREEHOUSE FOODS	$105,744,000	–	1,294,463	–	3.24%	–
CELG	New	CELGENE CORP	$103,816,000	–	799,402	–	3.18%	–
EW	New	EDWARDS LIFESCIENCES CORP	$101,844,000	–	861,348	–	3.12%	–
GOOG	New	ALPHABET INC. CL C	$20,712,000	–	22,793	–	0.63%	–
ESRX	New	EXPRESS SCRIPTS	$4,076,000	–	63,850	–	0.12%	–
USB	New	US BANCORP DEL COMNEW	$3,992,000	–	76,900	–	0.12%	–
BX	New	BLACKSTONE GROUP LP COMUNIT LT	$1,536,000	–	46,075	–	0.05%	–
AEE	New	AMEREN CORP	$1,004,000	–	18,375	–	0.03%	–
VZ	New	VERIZON COMMUNICATIONS	$951,000	–	21,300	–	0.03%	–
ED	New	CONSOLIDATED EDISON HLDGCO INC	$925,000	–	11,450	–	0.03%	–
ECL	New	ECOLAB INC	$750,000	–	5,650	–	0.02%	–
JNJ	New	JOHNSON & JOHNSON	$760,000	–	5,750	–	0.02%	–
PAYX	New	PAYCHEX INC COM	$677,000	–	11,900	–	0.02%	–
T	New	AT&T INC COM USD1	$427,000	–	11,325	–	0.01%	–
NLY	New	ANNALY CAPITAL MANAGEMENTINC C	$381,000	–	31,625	–	0.01%	–
NOV	New	NATIONAL-OILWELL VARCO	$340,000	–	10,325	–	0.01%	–
PEP	New	PEPSICO INC	$303,000	–	2,625	–	0.01%	–
BA	New	BOEING CO	$247,000	–	1,250	–	0.01%	–
MN	New	MANNING &NAPIER INC CLA	$243,000	–	56,000	–	0.01%	–
CAFD	New	8POINT3 ENERGY PARTNERSLP CL A	$173,000	–	11,500	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
PEP	Exit	PEPSICO INC	$0	–	-3,125	–	-0.01%	–
MN	Exit	MANNING & NAPIER INC CL A	$0	–	-44,250	–	-0.01%	–
T	Exit	AT&T INC COM	$0	–	-11,470	–	-0.01%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-5,250	–	-0.01%	–
ECL	Exit	ECOLAB INC COM	$0	–	-5,650	–	-0.01%	–
NLY	Exit	ANNALY CAP MGMT INC COM	$0	–	-75,875	–	-0.02%	–
COH	Exit	COACH	$0	–	-24,625	–	-0.02%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-18,975	–	-0.02%	–
ED	Exit	CONSOLIDATED EDISON INC COM	$0	–	-13,650	–	-0.02%	–
BX	Exit	BLACKSTONE GROUP L P COM UNIT	$0	–	-41,850	–	-0.02%	–
PAYX	Exit	PAYCHEX INC COM	$0	–	-18,150	–	-0.02%	–
AEE	Exit	AMEREN CORP	$0	–	-30,720	–	-0.03%	–
NOV	Exit	NATIONAL-OILWELL VARCO	$0	–	-45,500	–	-0.04%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-97,175	–	-0.09%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-41,296	–	-0.67%	–
TJX	Exit	TJX COMPANIES	$0	–	-1,347,751	–	-2.11%	–
MJN	Exit	MEAD JOHNSON NUTRITION	$0	–	-1,714,019	–	-2.84%	–
ROST	Exit	ROSS STORES	$0	–	-2,153,398	–	-2.90%	–
THS	Exit	TREEHOUSE FOODS	$0	–	-1,739,896	–	-3.18%	–
LKQ	Exit	LKQ CORP	$0	–	-4,441,651	–	-3.30%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-5,250,094	–	-3.48%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-4,152,938	–	-3.57%	–
SRCL	Exit	STERICYCLE	$0	–	-2,557,466	–	-4.30%	–
CLB	Exit	CORE LABS	$0	–	-1,893,080	–	-4.46%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-3,066,390	–	-4.53%	–
VRSK	Exit	VERISK ANALYTICS	$0	–	-2,698,733	–	-4.60%	–
QCOM	Exit	QUALCOMM	$0	–	-3,461,144	–	-4.97%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-297,375	–	-5.01%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-5,376,140	–	-5.38%	–
V	Exit	VISA	$0	–	-3,206,909	–	-5.56%	–
SLB	Exit	SCHLUMBERGER	$0	–	-3,741,101	–	-6.17%	–
KHC	Exit	KRAFT HEINZ	$0	–	-3,591,703	–	-6.74%	–
PCLN	Exit	PRICELINE	$0	–	-219,484	–	-6.77%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-3,089,161	–	-9.36%	–
AAPL	Exit	APPLE	$0	–	-4,124,490	–	-9.78%	–

Q3 2016

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE	$466,273,000	-1.1%	4,124,490	-16.4%	9.78%	+2.3%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$446,291,000	-8.7%	3,089,161	-8.5%	9.36%	-5.6%
PCLN	Sell	PRICELINE	$322,968,000	+2.2%	219,484	-13.3%	6.77%	+5.7%
KHC	Sell	KRAFT HEINZ	$321,493,000	-7.3%	3,591,703	-8.3%	6.74%	-4.1%
SLB	Sell	SCHLUMBERGER	$294,200,000	-6.8%	3,741,101	-6.3%	6.17%	-3.6%
V	Buy	VISA	$265,211,000	+19.6%	3,206,909	+7.2%	5.56%	+23.7%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS	$256,495,000	-20.3%	5,376,140	-4.4%	5.38%	-17.6%
GOOGL	Buy	ALPHABET INC. CL A	$239,107,000	+26.6%	297,375	+10.8%	5.01%	+31.0%
QCOM	Sell	QUALCOMM	$237,088,000	+10.3%	3,461,144	-13.8%	4.97%	+14.1%
VRSK	Sell	VERISK ANALYTICS	$219,353,000	-6.0%	2,698,733	-6.2%	4.60%	-2.7%
ESRX	Sell	EXPRESS SCRIPTS	$216,272,000	-12.2%	3,066,390	-5.7%	4.53%	-9.2%
CLB	Buy	CORE LABS	$212,649,000	+1.7%	1,893,080	+12.2%	4.46%	+5.2%
SRCL	Sell	STERICYCLE	$204,955,000	-27.1%	2,557,466	-5.3%	4.30%	-24.6%
PYPL	Sell	PAYPAL HOLDINGS	$170,145,000	-1.8%	4,152,938	-12.5%	3.57%	+1.6%
SCHW	Sell	CHARLES SCHWAB	$165,745,000	+18.5%	5,250,094	-5.0%	3.48%	+22.6%
LKQ	Sell	LKQ CORP	$157,500,000	-31.0%	4,441,651	-38.3%	3.30%	-28.6%
THS	New	TREEHOUSE FOODS	$151,701,000	–	1,739,896	–	3.18%	–
ROST	Sell	ROSS STORES	$138,463,000	-1.8%	2,153,398	-13.4%	2.90%	+1.6%
MJN	Sell	MEAD JOHNSON NUTRITION	$135,424,000	-42.2%	1,714,019	-33.7%	2.84%	-40.2%
TJX	Sell	TJX COMPANIES	$100,784,000	-8.7%	1,347,751	-5.7%	2.11%	-5.5%
GOOG	Sell	ALPHABET INC. CL C	$32,099,000	-2.4%	41,296	-13.1%	0.67%	+0.9%
USB	Sell	US BANCORP DEL COM NEW	$4,167,000	-8.7%	97,175	-14.2%	0.09%	-6.5%
NOV	Sell	NATIONAL-OILWELL VARCO	$1,671,000	-7.6%	45,500	-15.3%	0.04%	-5.4%
AEE	Sell	AMEREN CORP	$1,510,000	-13.4%	30,720	-5.6%	0.03%	-8.6%
ED	Sell	CONSOLIDATED EDISON INC COM	$1,027,000	-10.4%	13,650	-4.2%	0.02%	-4.3%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$986,000	-8.0%	18,975	-1.2%	0.02%	-4.5%
COH	Sell	COACH	$900,000	-62.0%	24,625	-57.6%	0.02%	-60.4%
ECL	Sell	ECOLAB INC COM	$687,000	+2.2%	5,650	-0.4%	0.01%	0.0%
T	Buy	AT&T INC COM	$465,000	-5.9%	11,470	+0.2%	0.01%	0.0%
PEP	Sell	PEPSICO INC	$339,000	+1.8%	3,125	-0.6%	0.01%	0.0%
MN	Buy	MANNING & NAPIER INC CL A	$313,000	-3.4%	44,250	+29.7%	0.01%	0.0%
PG	Exit	PROCTER & GAMBLE	$0	–	-2,400	–	-0.00%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY CL B	$488,954,000	–	3,376,990	–	9.91%	–
AAPL	New	APPLE	$471,594,000	–	4,932,995	–	9.56%	–
KHC	New	KRAFT HEINZ	$346,731,000	–	3,918,756	–	7.03%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$321,956,000	–	5,624,679	–	6.52%	–
PCLN	New	PRICELINE	$316,079,000	–	253,186	–	6.40%	–
SLB	New	SCHLUMBERGER	$315,681,000	–	3,991,924	–	6.40%	–
SRCL	New	STERICYCLE	$281,185,000	–	2,700,590	–	5.70%	–
ESRX	New	EXPRESS SCRIPTS	$246,452,000	–	3,251,358	–	4.99%	–
MJN	New	MEAD JOHNSON NUTRITION	$234,472,000	–	2,583,720	–	4.75%	–
VRSK	New	VERISK ANALYTICS	$233,360,000	–	2,878,154	–	4.73%	–
LKQ	New	LKQ CORP	$228,198,000	–	7,198,689	–	4.62%	–
V	New	VISA	$221,833,000	–	2,990,879	–	4.50%	–
QCOM	New	QUALCOMM	$215,013,000	–	4,013,697	–	4.36%	–
CLB	New	CORE LABS	$209,055,000	–	1,687,427	–	4.24%	–
GOOGL	New	ALPHABET INC. CL A	$188,890,000	–	268,489	–	3.83%	–
PYPL	New	PAYPAL HOLDINGS	$173,202,000	–	4,743,985	–	3.51%	–
ROST	New	ROSS STORES	$141,031,000	–	2,487,764	–	2.86%	–
SCHW	New	CHARLES SCHWAB	$139,926,000	–	5,528,510	–	2.84%	–
TJX	New	TJX COMPANIES	$110,383,000	–	1,429,281	–	2.24%	–
GOOG	New	ALPHABET INC. CL C	$32,901,000	–	47,538	–	0.67%	–
USB	New	US BANCORP DEL COM NEW	$4,566,000	–	113,235	–	0.09%	–
COH	New	COACH	$2,368,000	–	58,125	–	0.05%	–
NOV	New	NATIONAL-OILWELL VARCO	$1,808,000	–	53,750	–	0.04%	–
AEE	New	AMEREN CORP	$1,743,000	–	32,537	–	0.04%	–
ED	New	CONSOLIDATED EDISON INC	$1,146,000	–	14,250	–	0.02%	–
PAYX	New	PAYCHEX INC COM	$1,079,000	–	18,150	–	0.02%	–
VZ	New	VERIZON COMMUNICATIONS	$1,072,000	–	19,200	–	0.02%	–
BX	New	BLACKSTONE GROUP LP COMUNIT LT	$1,026,000	–	41,850	–	0.02%	–
NLY	New	ANNALY CAP MGMT INC COM	$839,000	–	75,875	–	0.02%	–
ECL	New	ECOLAB INC	$672,000	–	5,671	–	0.01%	–
JNJ	New	JOHNSON & JOHNSON	$636,000	–	5,250	–	0.01%	–
T	New	AT&T INC COM USD1	$494,000	–	11,444	–	0.01%	–
PEP	New	PEPSICO INC	$333,000	–	3,145	–	0.01%	–
MN	New	MANNING &NAPIER INC CLA	$324,000	–	34,125	–	0.01%	–
PG	New	PROCTER & GAMBLE	$203,000	–	2,400	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
EMC	Exit	EMC CORP	$0	–	-223,469	–	-0.08%	–
GOOG	Exit	ALPHABET INC. CL C	$0	–	-110,348	–	-0.98%	–
PRGO	Exit	PERRIGO	$0	–	-815,674	–	-1.87%	–
VAR	Exit	VARIAN MEDICAL SYSTEMS	$0	–	-1,945,422	–	-2.09%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-5,214,323	–	-2.36%	–
KHC	Exit	KRAFT HEINZ	$0	–	-2,471,282	–	-2.54%	–
CMI	Exit	CUMMINS	$0	–	-1,656,243	–	-2.62%	–
SRCL	Exit	STERICYCLE	$0	–	-1,471,324	–	-2.98%	–
CLB	Exit	CORE LABS	$0	–	-2,175,190	–	-3.16%	–
MJN	Exit	MEAD JOHNSON NUTRITION	$0	–	-3,497,161	–	-3.58%	–
GOOGL	Exit	ALPHABET INC. CL A	$0	–	-405,459	–	-3.77%	–
V	Exit	VISA	$0	–	-3,778,889	–	-3.83%	–
LKQ	Exit	LKQ CORP	$0	–	-9,403,538	–	-3.88%	–
NOV	Exit	NATIONAL-OILWELL VARCO	$0	–	-7,084,117	–	-3.88%	–
VRSK	Exit	VERISK ANALYTICS	$0	–	-3,921,829	–	-4.22%	–
COH	Exit	COACH	$0	–	-10,512,842	–	-4.43%	–
PCLN	Exit	PRICELINE	$0	–	-258,105	–	-4.65%	–
SLB	Exit	SCHLUMBERGER	$0	–	-5,267,799	–	-5.29%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-6,880,764	–	-6.27%	–
MTB	Exit	M&T BANK	$0	–	-3,548,865	–	-6.30%	–
ESRX	Exit	EXPRESS SCRIPTS	$0	–	-5,746,965	–	-6.77%	–
QCOM	Exit	QUALCOMM	$0	–	-9,547,357	–	-7.47%	–
AAPL	Exit	APPLE	$0	–	-5,058,297	–	-8.12%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-4,669,148	–	-8.86%	–

Q3 2015

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY CL B	$608,856,000	+3.2%	4,669,148	+7.7%	8.86%	+12.2%
AAPL	Buy	APPLE	$557,930,000	+1.9%	5,058,297	+15.8%	8.12%	+10.7%
QCOM	Sell	QUALCOMM	$512,979,000	-18.5%	9,547,357	-5.0%	7.47%	-11.4%
ESRX	Sell	EXPRESS SCRIPTS	$465,274,000	-20.0%	5,746,965	-12.1%	6.77%	-13.1%
MTB	Sell	M&T BANK	$432,784,000	-8.1%	3,548,865	-5.8%	6.30%	-0.1%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS	$430,804,000	-8.1%	6,880,764	-10.3%	6.27%	-0.1%
SLB	Buy	SCHLUMBERGER	$363,320,000	-2.5%	5,267,799	+21.9%	5.29%	+6.0%
PCLN	Buy	PRICELINE	$319,239,000	+13.6%	258,105	+5.8%	4.65%	+23.5%
COH	Sell	COACH	$304,136,000	-19.7%	10,512,842	-3.9%	4.43%	-12.7%
VRSK	Sell	VERISK ANALYTICS	$289,862,000	-4.7%	3,921,829	-6.2%	4.22%	+3.6%
NOV	Sell	NATIONAL-OILWELL VARCO	$266,717,000	-25.4%	7,084,117	-4.3%	3.88%	-18.9%
LKQ	Sell	LKQ CORP	$266,684,000	-17.0%	9,403,538	-11.5%	3.88%	-9.8%
V	Sell	VISA	$263,237,000	-8.7%	3,778,889	-12.0%	3.83%	-0.8%
GOOGL	New	ALPHABET INC. CL A	$258,833,000	–	405,459	–	3.77%	–
MJN	Buy	MEAD JOHNSON NUTRITION	$246,200,000	-0.0%	3,497,161	+28.1%	3.58%	+8.6%
CLB	Sell	CORE LABS	$217,084,000	-19.0%	2,175,190	-7.4%	3.16%	-12.0%
SRCL	Sell	STERICYCLE	$204,970,000	-2.0%	1,471,324	-5.8%	2.98%	+6.6%
CMI	Sell	CUMMINS	$179,834,000	-21.0%	1,656,243	-4.6%	2.62%	-14.1%
KHC	New	KRAFT HEINZ	$174,423,000	–	2,471,282	–	2.54%	–
PYPL	New	PAYPAL HOLDINGS	$161,852,000	–	5,214,323	–	2.36%	–
VAR	Sell	VARIAN MEDICAL SYSTEMS	$143,533,000	-26.2%	1,945,422	-15.7%	2.09%	-19.8%
PRGO	Sell	PERRIGO	$128,281,000	-22.2%	815,674	-8.6%	1.87%	-15.5%
GOOG	New	ALPHABET INC. CL C	$67,138,000	–	110,348	–	0.98%	–
EMC	Sell	EMC CORP	$5,399,000	-97.7%	223,469	-97.5%	0.08%	-97.5%
GOOG	Exit	GOOGLE	$0	–	-176,114	–	-1.23%	–
GOOGL	Exit	GOOGLE INC CL A	$0	–	-432,845	–	-3.13%	–

Q2 2015

			Value		Shares		↓ Weighting
QCOM	New	QUALCOMM	$629,231,000	–	10,046,809	–	8.43%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$589,958,000	–	4,334,428	–	7.90%	–
ESRX	New	EXPRESS SCRIPTS	$581,759,000	–	6,541,035	–	7.79%	–
AAPL	New	APPLE	$547,675,000	–	4,366,559	–	7.34%	–
MTB	New	M&T BANK	$470,887,000	–	3,769,209	–	6.31%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$468,687,000	–	7,672,080	–	6.28%	–
COH	New	COACH	$378,697,000	–	10,941,844	–	5.07%	–
SLB	New	SCHLUMBERGER	$372,610,000	–	4,323,129	–	4.99%	–
NOV	New	NATIONAL-OILWELL VARCO	$357,356,000	–	7,401,742	–	4.79%	–
LKQ	New	LKQ CORP	$321,480,000	–	10,629,217	–	4.30%	–
VRSK	New	VERISK ANALYTICS	$304,068,000	–	4,179,066	–	4.07%	–
V	New	VISA	$288,429,000	–	4,295,301	–	3.86%	–
PCLN	New	PRICELINE	$280,986,000	–	244,045	–	3.76%	–
CLB	New	CORE LABS	$267,958,000	–	2,349,692	–	3.59%	–
MJN	New	MEAD JOHNSON NUTRITION	$246,314,000	–	2,730,152	–	3.30%	–
EMC	New	EMC CORP	$239,033,000	–	9,057,717	–	3.20%	–
GOOGL	New	GOOGLE INC CL A	$233,753,000	–	432,845	–	3.13%	–
CMI	New	CUMMINS	$227,702,000	–	1,735,670	–	3.05%	–
SRCL	New	STERICYCLE	$209,093,000	–	1,561,450	–	2.80%	–
VAR	New	VARIAN MEDICAL SYSTEMS	$194,621,000	–	2,307,861	–	2.61%	–
PRGO	New	PERRIGO	$164,958,000	–	892,486	–	2.21%	–
GOOG	New	GOOGLE	$91,669,000	–	176,114	–	1.23%	–

Q4 2014

			Value		Shares		↓ Weighting
GOOG	Exit	GOOGLE	$0	–	-192,769	–	-1.80%	–
GOOGL	Exit	GOOGLE INC CLASS A VTG VOTING	$0	–	-240,656	–	-2.29%	–
NOV	Exit	NATIONAL-OILWELL VARCO	$0	–	-2,332,028	–	-2.87%	–
CMI	Exit	CUMMINS	$0	–	-1,361,740	–	-2.90%	–
VRSK	Exit	VERISK ANALYTICS	$0	–	-3,442,817	–	-3.39%	–
V	Exit	VISA	$0	–	-1,011,933	–	-3.49%	–
PCLN	Exit	PRICELINE	$0	–	-192,231	–	-3.60%	–
LKQ	Exit	LKQ CORP	$0	–	-8,379,275	–	-3.60%	–
VAR	Exit	VARIAN MEDICAL SYSTEMS	$0	–	-2,832,194	–	-3.67%	–
MJN	Exit	MEAD JOHNSON NUTRITION	$0	–	-2,394,115	–	-3.72%	–
SLB	Exit	SCHLUMBERGER	$0	–	-2,298,360	–	-3.78%	–
PRGO	Exit	PERRIGO	$0	–	-1,788,328	–	-4.34%	–
SRCL	Exit	STERICYCLE	$0	–	-2,528,949	–	-4.76%	–
COH	Exit	COACH	$0	–	-8,533,938	–	-4.91%	–
MTB	Exit	M&T BANK	$0	–	-2,650,981	–	-5.28%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-8,944,176	–	-6.47%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-5,957,369	–	-6.80%	–
EMC	Exit	EMC CORP	$0	–	-14,576,412	–	-6.89%	–
AAPL	Exit	APPLE	$0	–	-4,878,650	–	-7.94%	–
QCOM	Exit	QUALCOMM	$0	–	-6,637,080	–	-8.02%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-4,234,269	–	-9.46%	–

Q3 2014

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY CL B	$584,922,000	+14.2%	4,234,269	+4.6%	9.46%	+5.8%
QCOM	Buy	QUALCOMM	$496,255,000	+27.9%	6,637,080	+35.5%	8.02%	+18.6%
AAPL	Sell	APPLE	$491,524,000	-12.2%	4,878,650	-19.0%	7.94%	-18.7%
EMC	Buy	EMC CORP	$426,506,000	+15.9%	14,576,412	+4.4%	6.89%	+7.5%
ESRX	Buy	EXPRESS SCRIPTS HLDG CO	$420,769,000	+9.8%	5,957,369	+7.8%	6.80%	+1.8%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIONS	$400,431,000	+15.4%	8,944,176	+26.1%	6.47%	+7.0%
MTB	Buy	M&T BANK	$326,839,000	+8.2%	2,650,981	+8.9%	5.28%	+0.3%
COH	Buy	COACH	$303,894,000	+13.3%	8,533,938	+8.8%	4.91%	+5.0%
SRCL	Buy	STERICYCLE	$294,774,000	+4.0%	2,528,949	+5.7%	4.76%	-3.6%
PRGO	Buy	PERRIGO	$268,589,000	+5.8%	1,788,328	+2.6%	4.34%	-2.0%
SLB	Buy	SCHLUMBERGER	$233,720,000	-8.3%	2,298,360	+6.4%	3.78%	-15.0%
MJN	Buy	MEAD JOHNSON NUTRITION	$230,362,000	+3.8%	2,394,115	+0.5%	3.72%	-3.8%
VAR	Buy	VARIAN MEDICAL SYSTEMS	$226,915,000	+4.9%	2,832,194	+8.9%	3.67%	-2.8%
LKQ	Buy	LKQ CORP	$222,805,000	+54.4%	8,379,275	+54.9%	3.60%	+43.0%
PCLN	Buy	PRICELINE	$222,715,000	+5.7%	192,231	+9.7%	3.60%	-2.1%
V	Buy	VISA	$215,916,000	+8.1%	1,011,933	+6.8%	3.49%	+0.2%
VRSK	Buy	VERISK ANALYTICS	$209,633,000	+8.6%	3,442,817	+7.0%	3.39%	+0.6%
CMI	Buy	CUMMINS	$179,722,000	-3.1%	1,361,740	+13.3%	2.90%	-10.2%
NOV	Buy	NATIONAL-OILWELL VARCO	$177,467,000	-1.9%	2,332,028	+6.2%	2.87%	-9.0%
GOOGL	Buy	GOOGLE INC CLASS A VTG VOTING	$141,604,000	+9.7%	240,656	+9.0%	2.29%	+1.7%
GOOG	Sell	GOOGLE	$111,297,000	-2.5%	192,769	-2.9%	1.80%	-9.6%
DNOW	Exit	NOW INC	$0	–	-478,947	–	-0.30%	–

Q2 2014

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$560,060,000	–	6,026,684	–	9.77%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$512,336,000	–	4,048,166	–	8.94%	–
QCOM	New	QUALCOMM	$387,905,000	–	4,897,789	–	6.76%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$383,157,000	–	5,526,574	–	6.68%	–
EMC	New	EMC CORP	$367,860,000	–	13,965,839	–	6.42%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS	$346,970,000	–	7,094,047	–	6.05%	–
MTB	New	M&T BANK	$302,113,000	–	2,435,410	–	5.27%	–
SRCL	New	STERICYCLE	$283,396,000	–	2,393,147	–	4.94%	–
COH	New	COACH	$268,284,000	–	7,846,843	–	4.68%	–
SLB	New	SCHLUMBERGER	$254,761,000	–	2,159,911	–	4.44%	–
PRGO	New	PERRIGO	$253,972,000	–	1,742,399	–	4.43%	–
MJN	New	MEAD JOHNSON NUTRITION	$221,916,000	–	2,381,845	–	3.87%	–
VAR	New	VARIAN MEDICAL SYSTEMS	$216,281,000	–	2,601,412	–	3.77%	–
PCLN	New	PRICELINE	$210,756,000	–	175,192	–	3.68%	–
V	New	VISA	$199,690,000	–	947,703	–	3.48%	–
VRSK	New	VERISK ANALYTICS	$193,064,000	–	3,216,655	–	3.37%	–
CMI	New	CUMMINS	$185,479,000	–	1,202,145	–	3.24%	–
NOV	New	NATIONAL-OILWELL VARCO	$180,846,000	–	2,196,060	–	3.15%	–
LKQ	New	LKQ CORP	$144,349,000	–	5,408,348	–	2.52%	–
GOOGL	New	GOOGLE INC CLASS A VTG VOTING	$129,068,000	–	220,754	–	2.25%	–
GOOG	New	GOOGLE	$114,186,000	–	198,487	–	1.99%	–
DNOW	New	NOW INC	$17,343,000	–	478,947	–	0.30%	–

Q4 2013

			Value		Shares		↓ Weighting
MNST	Exit	MONSTER BEVERAGE	$0	–	-1,741,395	–	-2.18%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-1,388,732	–	-2.52%	–
SCHW	Exit	CHARLES SCHWAB	$0	–	-4,983,463	–	-2.53%	–
NOV	Exit	NATIONAL-OILWELL VARCO	$0	–	-1,635,164	–	-3.06%	–
VRSK	Exit	VERISK ANALYTICS	$0	–	-2,379,341	–	-3.71%	–
PCLN	Exit	PRICELINE	$0	–	-153,022	–	-3.71%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-2,513,914	–	-3.79%	–
VAR	Exit	VARIAN MEDICAL SYSTEMS	$0	–	-2,172,559	–	-3.89%	–
SLB	Exit	SCHLUMBERGER	$0	–	-1,843,477	–	-3.91%	–
V	Exit	VISA	$0	–	-862,941	–	-3.96%	–
MTB	Exit	M&T BANK	$0	–	-1,476,540	–	-3.96%	–
COH	Exit	COACH	$0	–	-3,037,439	–	-3.97%	–
SRCL	Exit	STERICYCLE	$0	–	-1,471,528	–	-4.07%	–
PRGO	Exit	PERRIGO	$0	–	-1,393,714	–	-4.12%	–
CMI	Exit	CUMMINS	$0	–	-1,537,662	–	-4.90%	–
GOOGL	Exit	GOOGLE	$0	–	-237,480	–	-4.99%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-3,827,273	–	-5.67%	–
EMC	Exit	EMC CORP	$0	–	-10,039,909	–	-6.16%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS	$0	–	-3,139,092	–	-6.18%	–
QCOM	Exit	QUALCOMM	$0	–	-3,991,646	–	-6.44%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-2,460,379	–	-6.70%	–
AAPL	Exit	APPLE	$0	–	-837,328	–	-9.57%	–

Q3 2013

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$399,196,000	–	837,328	–	9.57%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$279,277,000	–	2,460,379	–	6.70%	–
QCOM	Sell	QUALCOMM	$268,717,000	-40.4%	3,991,646	-36.8%	6.44%	-1.0%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS	$257,782,000	-46.0%	3,139,092	-52.3%	6.18%	-10.2%
EMC	Sell	EMC CORP	$256,620,000	-41.6%	10,039,909	-37.8%	6.16%	-3.0%
ESRX	Sell	EXPRESS SCRIPTS HLDG CO	$236,525,000	-43.8%	3,827,273	-35.3%	5.67%	-6.6%
GOOGL	Sell	GOOGLE	$208,011,000	-44.7%	237,480	-35.7%	4.99%	-8.2%
CMI	Sell	CUMMINS	$204,309,000	-34.6%	1,537,662	-38.4%	4.90%	+8.6%
PRGO	Sell	PERRIGO	$171,956,000	-31.4%	1,393,714	-21.3%	4.12%	+13.9%
SRCL	Sell	STERICYCLE	$169,814,000	-42.9%	1,471,528	-35.0%	4.07%	-5.1%
COH	Sell	COACH	$165,631,000	-44.7%	3,037,439	-33.3%	3.97%	-8.2%
MTB	New	M&T BANK	$165,254,000	–	1,476,540	–	3.96%	–
V	Sell	VISA	$164,908,000	-42.7%	862,941	-37.5%	3.96%	-4.9%
SLB	Sell	SCHLUMBERGER	$162,889,000	-34.5%	1,843,477	-38.1%	3.91%	+8.9%
VAR	Sell	VARIAN MEDICAL SYSTEMS	$162,355,000	-41.7%	2,172,559	-39.9%	3.89%	-3.1%
GILD	Sell	GILEAD SCIENCES	$158,049,000	-37.3%	2,513,914	-42.0%	3.79%	+4.1%
PCLN	Sell	PRICELINE	$154,697,000	-36.8%	153,022	-41.0%	3.71%	+4.9%
VRSK	Sell	VERISK ANALYTICS	$154,561,000	-42.1%	2,379,341	-38.5%	3.71%	-3.8%
NOV	Sell	NATIONAL-OILWELL VARCO	$127,722,000	-38.7%	1,635,164	-36.8%	3.06%	+1.9%
SCHW	Sell	CHARLES SCHWAB	$105,350,000	-65.2%	4,983,463	-60.0%	2.53%	-42.2%
AXP	New	AMERICAN EXPRESS	$104,877,000	–	1,388,732	–	2.52%	–
MNST	Sell	MONSTER BEVERAGE	$90,987,000	-51.2%	1,741,395	-34.5%	2.18%	-18.9%
	Exit	American Express	$0	–	-2,235,966	–	-2.78%	–
	Exit	Berkshire Hathaway	$0	–	-3,921,428	–	-7.27%	–
	Exit	Apple Computer	$0	–	-1,352,878	–	-9.08%	–

Q2 2013

			Value		Shares		↓ Weighting
	New	Apple Computer	$629,244,000	–	1,352,878	–	9.08%	–
	New	Berkshire Hathaway	$503,240,000	–	3,921,428	–	7.27%	–
CTSH	New	Cognizant Technology	$476,986,000	–	6,580,730	–	6.89%	–
QCOM	New	Qualcomm	$450,866,000	–	6,313,354	–	6.51%	–
EMC	New	EMC	$439,482,000	–	16,136,372	–	6.34%	–
ESRX	New	Express Scripts	$420,912,000	–	5,915,478	–	6.08%	–
GOOGL	New	Google	$376,276,000	–	369,406	–	5.43%	–
CMI	New	Cummins	$312,520,000	–	2,494,422	–	4.51%	–
SCHW	New	Charles Schwab	$302,958,000	–	12,473,276	–	4.37%	–
COH	New	Coach	$299,612,000	–	4,553,072	–	4.33%	–
SRCL	New	Stericycle	$297,244,000	–	2,263,696	–	4.29%	–
V	New	Visa	$287,884,000	–	1,380,294	–	4.16%	–
VAR	New	Varian Medical Systems	$278,394,000	–	3,614,406	–	4.02%	–
VRSK	New	Verisk Analytics	$267,014,000	–	3,866,612	–	3.86%	–
GILD	New	Gilead Sciences	$252,198,000	–	4,332,024	–	3.64%	–
PRGO	New	Perrigo	$250,834,000	–	1,772,004	–	3.62%	–
SLB	New	Schlumberger	$248,528,000	–	2,977,158	–	3.59%	–
PCLN	New	Priceline	$244,900,000	–	259,248	–	3.54%	–
NOV	New	National Oilwell Varco	$208,234,000	–	2,587,262	–	3.01%	–
	New	American Express	$192,430,000	–	2,235,966	–	2.78%	–
MNST	New	Monster Beverage	$186,310,000	–	2,657,788	–	2.69%	–

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