TORRAY INVESTMENT PARTNERS LLC Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
GOOGL	Sell	Alphabet Class A	$23,634,363	+7.1%	180,608	-2.0%	4.17%	+9.2%
FISV	Sell	Fiserv	$17,152,976	-11.7%	151,850	-1.4%	3.02%	-10.0%
PSX	Buy	Phillips 66	$16,911,286	+26.8%	140,751	+0.7%	2.98%	+29.3%
EOG	Buy	EOG Resources	$14,965,286	+11.6%	118,060	+0.7%	2.64%	+13.8%
HD	Buy	Home Depot	$14,924,918	-0.8%	49,394	+2.0%	2.63%	+1.2%
JPM	Sell	JPMorgan Chase	$14,815,098	-3.2%	102,159	-3.0%	2.61%	-1.3%
UNH	Sell	UnitedHealth Group	$13,523,888	+4.7%	26,823	-0.2%	2.38%	+6.8%
TROW	Buy	T. Rowe Price Group	$13,340,827	-5.4%	127,213	+1.0%	2.35%	-3.6%
MO	Buy	Altria Group	$13,237,550	-5.9%	314,805	+1.4%	2.34%	-4.0%
MSFT	Sell	Microsoft	$13,073,945	-9.7%	41,406	-2.6%	2.31%	-7.9%
QCOM	Buy	Qualcomm	$12,358,559	-5.0%	111,278	+1.9%	2.18%	-3.1%
JNJ	Buy	Johnson & Johnson	$11,975,618	-5.7%	76,890	+0.2%	2.11%	-3.9%
AAPL	Buy	Apple	$11,221,275	-10.4%	65,541	+1.5%	1.98%	-8.6%
RPRX	Sell	Royalty Pharma Plc	$11,198,860	-12.0%	412,633	-0.3%	1.98%	-10.2%
AXP	Buy	American Express	$11,070,047	-13.9%	74,201	+0.5%	1.95%	-12.2%
HON	Buy	Honeywell	$10,810,615	-10.5%	58,518	+0.6%	1.91%	-8.7%
AMZN	Buy	Amazon.com	$10,643,630	-0.8%	83,729	+1.8%	1.88%	+1.2%
AVGO	Buy	Broadcom Limited	$7,207,773	+16.0%	8,678	+21.1%	1.27%	+18.2%
ADBE	Sell	Adobe Systems	$6,939,229	+0.4%	13,609	-3.7%	1.22%	+2.3%
CPRT	Buy	Copart	$6,590,357	-9.4%	152,944	+91.9%	1.16%	-7.6%
NOW	Sell	ServiceNow	$6,416,302	-4.8%	11,479	-4.3%	1.13%	-2.9%
ORLY	Sell	O'Reilly Automotive	$6,382,924	-12.9%	7,023	-8.5%	1.13%	-11.2%
V	Sell	Visa	$5,843,404	-7.4%	25,405	-4.4%	1.03%	-5.5%
VRSK	Sell	Verisk Analytics	$5,599,360	-1.3%	23,702	-5.6%	0.99%	+0.6%
	Sell	Constellation Software	$5,502,928	-2.1%	2,667	-1.1%	0.97%	-0.2%
APH	Sell	Amphenol	$5,133,217	-6.6%	61,117	-5.5%	0.90%	-4.8%
DHR	Sell	Danaher	$4,821,575	+0.8%	19,434	-2.4%	0.85%	+2.8%
POOL	Buy	Pool	$4,789,914	-1.0%	13,451	+4.2%	0.84%	+1.1%
COO	Sell	Cooper Companies	$4,779,690	-18.8%	15,030	-2.0%	0.84%	-17.2%
KLAC	Sell	KLA	$4,748,507	-9.7%	10,353	-4.5%	0.84%	-7.9%
AJG	Sell	Arthur J. Gallagher	$4,725,217	+1.4%	20,731	-2.3%	0.83%	+3.3%
ACN	Sell	Accenture	$4,359,734	-4.2%	14,196	-3.7%	0.77%	-2.3%
AMT	Buy	American Tower	$4,271,095	-13.6%	25,972	+1.9%	0.75%	-11.9%
SHW	Sell	Sherwin-Williams	$4,223,883	-8.3%	16,561	-4.5%	0.74%	-6.4%
IDXX	Sell	Idexx Laboratories	$4,106,840	-16.4%	9,392	-4.0%	0.72%	-14.8%
VEEV	Sell	Veeva Systems	$3,897,288	-1.0%	19,156	-3.7%	0.69%	+0.9%
AMGN	Buy	Amgen	$3,864,821	+25.7%	14,380	+3.8%	0.68%	+28.2%
TYL	Sell	Tyler Technologies	$3,735,518	-11.2%	9,674	-4.3%	0.66%	-9.5%
GMAB	Sell	Genmab ADR	$3,686,279	-10.9%	104,516	-3.9%	0.65%	-9.1%
CCI	Buy	Crown Castle	$3,418,362	+17.1%	37,144	+45.0%	0.60%	+19.4%
BX	Buy	Blackstone Group	$3,162,344	+18.4%	29,516	+2.7%	0.56%	+20.8%
ABBV	Buy	Abbvie	$3,158,581	+25.1%	21,190	+13.0%	0.56%	+27.5%
LYB	Buy	LyondellBasell Industries	$3,130,835	+7.4%	33,061	+4.2%	0.55%	+9.5%
LZAGY	Sell	Lonza Group ADR	$3,042,523	-23.6%	65,884	-1.3%	0.54%	-22.1%
DLR	Buy	Digital Realty Trust	$3,026,347	+9.5%	25,007	+3.0%	0.53%	+11.7%
CSCO	Buy	Cisco Systems	$2,680,796	+9.8%	49,866	+5.7%	0.47%	+12.1%
GILD	Buy	Gilead Sciences	$2,666,140	+6.1%	35,577	+9.1%	0.47%	+8.0%
ENB	Buy	Enbridge	$2,481,795	-2.2%	74,775	+9.5%	0.44%	-0.2%
UNP	Buy	Union Pacific	$2,418,538	+8.7%	11,877	+9.2%	0.43%	+10.9%
LMT	Buy	Lockheed Martin	$2,391,619	-6.8%	5,848	+5.0%	0.42%	-5.0%
MTN	Buy	Vail Resorts	$2,384,874	-3.9%	10,748	+9.0%	0.42%	-1.9%
PAYX	Buy	Paychex	$2,360,838	+14.3%	20,470	+10.9%	0.42%	+16.5%
	Buy	Ryan Specialty Holdings	$1,939,533	+10.8%	40,073	+2.7%	0.34%	+12.9%
TW	Buy	Tradeweb Markets	$1,877,963	+19.9%	23,416	+2.4%	0.33%	+22.1%
ROLL	Buy	RBC Bearings	$1,727,177	+10.5%	7,377	+2.6%	0.30%	+13.0%
ANSS	Buy	Ansys	$1,678,480	-7.5%	5,641	+2.7%	0.30%	-5.7%
LNTH	Buy	Lantheus Holdings	$1,661,962	-14.7%	23,920	+3.0%	0.29%	-13.1%
DT	Buy	Dynatrace	$1,624,989	-6.7%	34,774	+2.8%	0.29%	-4.7%
ICFI	Buy	ICF International	$1,554,704	+0.1%	12,869	+3.1%	0.27%	+1.9%
MPWR	Buy	Monolithic Power Systems	$1,530,144	-12.5%	3,312	+2.3%	0.27%	-10.6%
QLYS	Buy	Qualys	$1,325,507	+21.3%	8,689	+2.7%	0.23%	+23.8%
JKHY	Buy	Jack Henry & Associates	$1,320,208	-0.1%	8,735	+10.6%	0.23%	+1.7%
	Buy	Aspen Technology	$1,298,889	+25.7%	6,359	+3.2%	0.23%	+27.9%
MTD	Buy	Mettler Toledo	$1,285,361	+2.7%	1,160	+21.6%	0.23%	+5.1%
SBAC	Buy	SBA Communications	$1,288,895	+2.2%	6,439	+18.3%	0.23%	+4.1%
ENTG	Buy	Entegris	$1,256,234	-14.2%	13,377	+1.2%	0.22%	-12.3%
BMRN	Buy	BioMarin Pharmaceuticals	$1,258,363	+32.2%	14,222	+29.5%	0.22%	+34.5%
BPMC	Buy	Blueprint Medicines	$1,245,004	-17.0%	24,791	+4.4%	0.22%	-15.1%
RCKT	Buy	Rocket Pharmaceuticals	$1,233,027	+13.7%	60,177	+10.3%	0.22%	+15.4%
VICR	Buy	Vicor	$1,222,792	+37.1%	20,764	+25.7%	0.22%	+40.3%
SPNS	Buy	Sapiens	$1,227,408	+10.9%	43,173	+3.7%	0.22%	+13.1%
CHD	Buy	Church & Dwight	$1,079,676	-4.5%	11,783	+4.4%	0.19%	-3.1%
BND	Sell	VANGUARD BD INDEX FDStotal bnd mrkt	$1,054,725	-13.3%	15,115	-9.7%	0.19%	-11.4%
HALO	Buy	Halozyme Therapeutics	$993,391	+10.3%	26,005	+4.2%	0.18%	+12.2%
GOOG	Buy	Alphabet Class C	$954,330	+10.7%	7,238	+1.6%	0.17%	+12.8%
NTRA	Buy	Natera	$919,294	-5.7%	20,775	+3.7%	0.16%	-4.1%
ZBRA	Buy	Zebra Technologies	$788,354	-16.3%	3,333	+4.7%	0.14%	-14.7%
COST	Buy	Costco	$486,996	+36.6%	862	+30.2%	0.09%	+38.7%
IWF	Sell	ISHARES TRrus 1000 grw etf	$345,255	-12.6%	1,298	-9.6%	0.06%	-10.3%
ABT	Buy	Abbott Labs	$217,913	-1.5%	2,250	+10.8%	0.04%	0.0%
MRK	New	Merck	$210,121	–	2,041	–	0.04%	–
MA	Exit	Mastercard	$0	–	-613	–	-0.04%	–
SBUX	Exit	Starbucks	$0	–	-4,710	–	-0.08%	–
VRRM	Exit	Verra Mobility	$0	–	-88,322	–	-0.30%	–

Q2 2023

			Value		Shares		↓ Weighting
GOOGL	New	Alphabet Class A	$22,069,688	–	184,375	–	3.82%	–
BRKB	New	Berkshire Hathaway B	$21,860,146	–	64,106	–	3.78%	–
FISV	New	Fiserv	$19,428,109	–	154,008	–	3.36%	–
MMC	New	Marsh & McLennan	$16,367,098	–	87,022	–	2.83%	–
JPM	New	JPMorgan Chase	$15,310,178	–	105,268	–	2.65%	–
HD	New	Home Depot	$15,039,974	–	48,416	–	2.60%	–
MSFT	New	Microsoft	$14,480,782	–	42,523	–	2.50%	–
TROW	New	T. Rowe Price Group	$14,109,703	–	125,957	–	2.44%	–
ETN	New	Eaton	$14,072,174	–	69,976	–	2.43%	–
MO	New	Altria Group	$14,065,061	–	310,487	–	2.43%	–
EOG	New	EOG Resources	$13,412,482	–	117,201	–	2.32%	–
PSX	New	Phillips 66	$13,337,409	–	139,834	–	2.31%	–
QCOM	New	Qualcomm	$13,004,194	–	109,242	–	2.25%	–
UNH	New	UnitedHealth Group	$12,916,239	–	26,873	–	2.23%	–
AXP	New	American Express	$12,856,134	–	73,801	–	2.22%	–
RPRX	New	Royalty Pharma Plc	$12,720,673	–	413,815	–	2.20%	–
JNJ	New	Johnson & Johnson	$12,702,005	–	76,740	–	2.20%	–
AAPL	New	Apple	$12,524,449	–	64,569	–	2.17%	–
LENB	New	Lennar Corp Cl B	$12,385,884	–	109,629	–	2.14%	–
HON	New	Honeywell	$12,075,048	–	58,193	–	2.09%	–
GD	New	General Dynamics Corp	$12,059,588	–	56,052	–	2.09%	–
TXN	New	Texas Instruments	$11,943,247	–	66,344	–	2.07%	–
AMAT	New	Applied Materials	$10,987,064	–	76,014	–	1.90%	–
AMZN	New	Amazon.com	$10,726,933	–	82,287	–	1.86%	–
CB	New	Chubb Limited	$10,274,424	–	53,357	–	1.78%	–
GM	New	General Motors	$10,109,661	–	262,180	–	1.75%	–
SLB	New	SLB	$9,772,964	–	198,961	–	1.69%	–
WRB	New	W.R. Berkley	$9,663,312	–	162,245	–	1.67%	–
KHC	New	Kraft Heinz	$9,557,133	–	269,215	–	1.65%	–
ORLY	New	O'Reilly Automotive	$7,330,017	–	7,673	–	1.27%	–
CPRT	New	Copart	$7,270,896	–	79,716	–	1.26%	–
ADBE	New	Adobe Systems	$6,913,830	–	14,139	–	1.20%	–
NOW	New	ServiceNow	$6,739,144	–	11,992	–	1.17%	–
V	New	Visa	$6,309,369	–	26,568	–	1.09%	–
AVGO	New	Broadcom Limited	$6,216,003	–	7,166	–	1.08%	–
COO	New	Cooper Companies	$5,883,350	–	15,344	–	1.02%	–
VRSK	New	Verisk Analytics	$5,674,031	–	25,103	–	0.98%	–
	New	Constellation Software	$5,618,963	–	2,698	–	0.97%	–
APH	New	Amphenol	$5,496,095	–	64,698	–	0.95%	–
KLAC	New	KLA	$5,258,102	–	10,841	–	0.91%	–
AMT	New	American Tower	$4,941,203	–	25,478	–	0.86%	–
IDXX	New	Idexx Laboratories	$4,913,818	–	9,784	–	0.85%	–
POOL	New	Pool	$4,835,867	–	12,908	–	0.84%	–
DHR	New	Danaher	$4,781,280	–	19,922	–	0.83%	–
AJG	New	Arthur J. Gallagher	$4,660,812	–	21,227	–	0.81%	–
SHW	New	Sherwin-Williams	$4,603,851	–	17,339	–	0.80%	–
ACN	New	Accenture	$4,550,938	–	14,748	–	0.79%	–
TYL	New	Tyler Technologies	$4,208,846	–	10,106	–	0.73%	–
GMAB	New	Genmab ADR	$4,135,184	–	108,792	–	0.72%	–
LZAGY	New	Lonza Group ADR	$3,983,640	–	66,750	–	0.69%	–
VEEV	New	Veeva Systems	$3,935,025	–	19,901	–	0.68%	–
AMGN	New	Amgen	$3,074,798	–	13,849	–	0.53%	–
CCI	New	Crown Castle	$2,918,231	–	25,612	–	0.50%	–
LYB	New	LyondellBasell Industries	$2,914,460	–	31,738	–	0.50%	–
DLR	New	Digital Realty Trust	$2,764,080	–	24,274	–	0.48%	–
BX	New	Blackstone Group	$2,671,400	–	28,734	–	0.46%	–
LMT	New	Lockheed Martin	$2,565,261	–	5,572	–	0.44%	–
ENB	New	Enbridge	$2,537,768	–	68,311	–	0.44%	–
ABBV	New	Abbvie	$2,525,379	–	18,744	–	0.44%	–
GILD	New	Gilead Sciences	$2,513,176	–	32,609	–	0.44%	–
MTN	New	Vail Resorts	$2,481,598	–	9,857	–	0.43%	–
CSCO	New	Cisco Systems	$2,441,662	–	47,191	–	0.42%	–
UNP	New	Union Pacific	$2,225,472	–	10,876	–	0.38%	–
PAYX	New	Paychex	$2,065,152	–	18,460	–	0.36%	–
LNTH	New	Lantheus Holdings	$1,948,790	–	23,222	–	0.34%	–
ANSS	New	Ansys	$1,814,834	–	5,495	–	0.31%	–
	New	Ryan Specialty Holdings	$1,751,114	–	39,009	–	0.30%	–
MPWR	New	Monolithic Power Systems	$1,748,184	–	3,236	–	0.30%	–
VRRM	New	Verra Mobility	$1,741,710	–	88,322	–	0.30%	–
DT	New	Dynatrace	$1,741,848	–	33,842	–	0.30%	–
TW	New	Tradeweb Markets	$1,565,864	–	22,866	–	0.27%	–
ROLL	New	RBC Bearings	$1,563,392	–	7,189	–	0.27%	–
ICFI	New	ICF International	$1,552,636	–	12,482	–	0.27%	–
BPMC	New	Blueprint Medicines	$1,500,368	–	23,740	–	0.26%	–
ENTG	New	Entegris	$1,464,708	–	13,217	–	0.25%	–
JKHY	New	Jack Henry & Associates	$1,321,405	–	7,897	–	0.23%	–
SBAC	New	SBA Communications	$1,261,006	–	5,441	–	0.22%	–
MTD	New	Mettler Toledo	$1,251,305	–	954	–	0.22%	–
BND	New	VANGUARD BD INDEX FDStotal bnd mrkt	$1,216,831	–	16,740	–	0.21%	–
CHD	New	Church & Dwight	$1,130,995	–	11,284	–	0.20%	–
SPNS	New	Sapiens	$1,107,012	–	41,617	–	0.19%	–
QLYS	New	Qualys	$1,093,166	–	8,463	–	0.19%	–
RCKT	New	Rocket Pharmaceuticals	$1,084,286	–	54,569	–	0.19%	–
	New	Aspen Technology	$1,032,980	–	6,163	–	0.18%	–
NTRA	New	Natera	$974,465	–	20,026	–	0.17%	–
BMRN	New	BioMarin Pharmaceuticals	$951,833	–	10,981	–	0.16%	–
ZBRA	New	Zebra Technologies	$941,627	–	3,183	–	0.16%	–
HALO	New	Halozyme Therapeutics	$900,271	–	24,959	–	0.16%	–
VICR	New	Vicor	$891,972	–	16,518	–	0.15%	–
GOOG	New	Alphabet Class C	$862,153	–	7,127	–	0.15%	–
SBUX	New	Starbucks	$466,573	–	4,710	–	0.08%	–
IWF	New	ISHARES TRrus 1000 grw etf	$395,158	–	1,436	–	0.07%	–
COST	New	Costco	$356,408	–	662	–	0.06%	–
URI	New	United Rentals	$293,944	–	660	–	0.05%	–
MA	New	Mastercard	$241,093	–	613	–	0.04%	–
ABT	New	Abbott Labs	$221,311	–	2,030	–	0.04%	–

Q4 2022

			Value		Shares		↓ Weighting
COST	Exit	Costco	$0	–	-670	–	-0.06%	–
MUB	Exit	ISHARES TRnational mun etf	$0	–	-3,750	–	-0.08%	–
SBUX	Exit	Starbucks	$0	–	-4,710	–	-0.08%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-2,011	–	-0.08%	–
VICR	Exit	Vicor	$0	–	-9,543	–	-0.11%	–
GOOG	Exit	Alphabet Class C	$0	–	-6,280	–	-0.12%	–
MKSI	Exit	MKS Instruments	$0	–	-8,194	–	-0.14%	–
NTRA	Exit	Natera	$0	–	-16,740	–	-0.15%	–
CHD	Exit	Church & Dwight	$0	–	-10,499	–	-0.15%	–
OMCL	Exit	Omnicell	$0	–	-8,695	–	-0.15%	–
SPNS	Exit	Sapiens	$0	–	-43,203	–	-0.16%	–
RCKT	Exit	Rocket Pharmaceuticals	$0	–	-56,951	–	-0.18%	–
DT	Exit	Dynatrace	$0	–	-26,763	–	-0.19%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-11,300	–	-0.19%	–
ANSS	Exit	Ansys	$0	–	-4,449	–	-0.20%	–
TW	Exit	Tradeweb Markets	$0	–	-17,509	–	-0.20%	–
AVGO	Exit	Broadcom Limited	$0	–	-2,347	–	-0.21%	–
MTD	Exit	Mettler Toledo	$0	–	-984	–	-0.21%	–
ZBRA	Exit	Zebra Technologies	$0	–	-4,364	–	-0.23%	–
BPMC	Exit	Blueprint Medicines	$0	–	-17,487	–	-0.23%	–
MPWR	Exit	Monolithic Power Systems	$0	–	-3,295	–	-0.24%	–
QLYS	Exit	Qualys	$0	–	-8,628	–	-0.24%	–
POOL	Exit	Pool	$0	–	-3,814	–	-0.24%	–
CTLT	Exit	Catalent	$0	–	-17,317	–	-0.25%	–
BND	Exit	VANGUARD BD INDEX FDStotal bnd mrkt	$0	–	-17,640	–	-0.25%	–
HALO	Exit	Halozyme Therapeutics	$0	–	-32,913	–	-0.26%	–
AVGOP	Exit	BROADCOM INC8% mcnv pfd sr a	$0	–	-928	–	-0.26%	–
VRRM	Exit	Verra Mobility	$0	–	-90,039	–	-0.28%	–
ICFI	Exit	ICF International	$0	–	-12,801	–	-0.28%	–
MYOV	Exit	Myovant Sciences	$0	–	-79,171	–	-0.28%	–
SBAC	Exit	SBA Communications	$0	–	-5,045	–	-0.29%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-8,088	–	-0.29%	–
	Exit	Aspen Technology	$0	–	-6,230	–	-0.30%	–
ROLL	Exit	RBC Bearings	$0	–	-7,425	–	-0.31%	–
CSCO	Exit	Cisco Systems	$0	–	-39,953	–	-0.32%	–
	Exit	Ryan Specialty Holdings	$0	–	-39,985	–	-0.32%	–
PAYX	Exit	Paychex	$0	–	-17,441	–	-0.39%	–
DLR	Exit	Digital Realty Trust	$0	–	-19,916	–	-0.39%	–
MCD	Exit	McDonalds	$0	–	-8,742	–	-0.40%	–
CCI	Exit	Crown Castle International	$0	–	-14,135	–	-0.41%	–
BX	Exit	Blackstone Group	$0	–	-26,605	–	-0.44%	–
PRU	Exit	Prudential Financial	$0	–	-26,177	–	-0.45%	–
LMT	Exit	Lockheed Martin	$0	–	-5,826	–	-0.45%	–
HII	Exit	Huntington Ingalls	$0	–	-10,284	–	-0.45%	–
LYB	Exit	LyondellBasell Industries	$0	–	-30,759	–	-0.46%	–
AMGN	Exit	Amgen	$0	–	-10,581	–	-0.48%	–
ABBV	Exit	Abbvie	$0	–	-18,249	–	-0.49%	–
ENB	Exit	Enbridge	$0	–	-68,570	–	-0.51%	–
HD	Exit	Home Depot	$0	–	-9,977	–	-0.55%	–
GILD	Exit	Gilead Sciences	$0	–	-45,242	–	-0.56%	–
NKE	Exit	Nike	$0	–	-36,597	–	-0.61%	–
LZAGY	Exit	Lonza Group ADR	$0	–	-63,582	–	-0.62%	–
NOW	Exit	ServiceNow	$0	–	-8,718	–	-0.66%	–
IDXX	Exit	Idexx Laboratories	$0	–	-10,423	–	-0.68%	–
SHW	Exit	Sherwin-Williams	$0	–	-17,777	–	-0.72%	–
ACN	Exit	Accenture	$0	–	-14,293	–	-0.73%	–
TYL	Exit	Tyler Technologies	$0	–	-10,884	–	-0.75%	–
ADBE	Exit	Adobe Systems	$0	–	-14,100	–	-0.77%	–
	Exit	Constellation Software	$0	–	-2,850	–	-0.80%	–
COO	Exit	Cooper Companies	$0	–	-15,177	–	-0.80%	–
GMAB	Exit	Genmab ADR	$0	–	-131,430	–	-0.84%	–
APH	Exit	Amphenol	$0	–	-69,425	–	-0.93%	–
VRSK	Exit	Verisk Analytics	$0	–	-27,589	–	-0.94%	–
CPRT	Exit	Copart	$0	–	-45,299	–	-0.96%	–
FISV	Exit	Fiserv	$0	–	-55,896	–	-1.04%	–
SCHW	Exit	Charles Schwab	$0	–	-73,082	–	-1.05%	–
DHR	Exit	Danaher	$0	–	-20,348	–	-1.05%	–
RPRX	Exit	Royalty Pharma	$0	–	-139,024	–	-1.11%	–
AMT	Exit	American Tower	$0	–	-26,420	–	-1.13%	–
V	Exit	Visa	$0	–	-34,950	–	-1.24%	–
KLAC	Exit	KLA	$0	–	-21,437	–	-1.29%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-9,438	–	-1.32%	–
DD	Exit	DuPont de Nemours	$0	–	-162,784	–	-1.64%	–
KHC	Exit	Kraft Heinz	$0	–	-269,215	–	-1.79%	–
AMZN	Exit	Amazon.com	$0	–	-82,660	–	-1.86%	–
SLB	Exit	Schlumberger	$0	–	-266,542	–	-1.91%	–
MSFT	Exit	Microsoft	$0	–	-41,238	–	-1.91%	–
DIS	Exit	Walt Disney	$0	–	-102,131	–	-1.92%	–
EOG	Exit	EOG Resources	$0	–	-86,759	–	-1.93%	–
CB	Exit	Chubb Limited	$0	–	-53,351	–	-1.93%	–
HON	Exit	Honeywell	$0	–	-58,132	–	-1.93%	–
AXP	Exit	American Express	$0	–	-73,632	–	-1.98%	–
AAPL	Exit	Apple	$0	–	-73,237	–	-2.02%	–
BAC	Exit	Bank of America	$0	–	-337,536	–	-2.03%	–
TXN	Exit	Texas Instruments	$0	–	-66,253	–	-2.04%	–
QCOM	Exit	Qualcomm	$0	–	-90,965	–	-2.05%	–
PSX	Exit	Phillips 66	$0	–	-127,721	–	-2.05%	–
JPM	Exit	JPMorgan Chase	$0	–	-105,356	–	-2.19%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-161,134	–	-2.28%	–
ETN	Exit	Eaton	$0	–	-91,255	–	-2.42%	–
JNJ	Exit	Johnson & Johnson	$0	–	-76,740	–	-2.50%	–
GM	Exit	General Motors	$0	–	-402,567	–	-2.57%	–
GPC	Exit	Genuine Parts Co	$0	–	-87,589	–	-2.61%	–
UNH	Exit	UnitedHealth Group	$0	–	-26,675	–	-2.68%	–
MO	Exit	Altria Group	$0	–	-339,746	–	-2.73%	–
MMC	Exit	Marsh & McLennan	$0	–	-96,785	–	-2.88%	–
GD	Exit	General Dynamics Corp	$0	–	-68,983	–	-2.92%	–
BRKB	Exit	Berkshire Hathaway B	$0	–	-64,106	–	-3.41%	–
TROW	Exit	T. Rowe Price Group	$0	–	-163,189	–	-3.41%	–
GOOGL	Exit	Alphabet Class A	$0	–	-232,363	–	-4.43%	–

Q3 2022

			Value		Shares		↓ Weighting
GOOGL	Buy	Alphabet Class A	$22,226,000	+16.1%	232,363	+2544.1%	4.43%	+21.2%
TROW	Buy	T. Rowe Price Group	$17,136,000	+36.9%	163,189	+48.1%	3.41%	+43.0%
BRKB	Buy	Berkshire Hathaway B	$17,118,000	-1.7%	64,106	+0.5%	3.41%	+2.6%
MMC	Buy	Marsh & McLennan	$14,449,000	-2.6%	96,785	+1.3%	2.88%	+1.7%
MO	Buy	Altria Group	$13,719,000	-2.8%	339,746	+0.5%	2.73%	+1.5%
GPC	Sell	Genuine Parts Co	$13,079,000	-4.8%	87,589	-15.2%	2.61%	-0.5%
GM	Buy	General Motors	$12,918,000	+26.8%	402,567	+25.5%	2.57%	+32.4%
JNJ	Buy	Johnson & Johnson	$12,536,000	-6.8%	76,740	+1.3%	2.50%	-2.6%
ETN	Buy	Eaton	$12,170,000	+6.0%	91,255	+0.1%	2.42%	+10.7%
BMY	Sell	Bristol-Myers Squibb	$11,455,000	-20.7%	161,134	-14.1%	2.28%	-17.2%
JPM	Buy	JPMorgan Chase	$11,010,000	-5.9%	105,356	+1.4%	2.19%	-1.7%
PSX	Buy	Phillips 66	$10,310,000	+2.5%	127,721	+4.1%	2.05%	+7.1%
QCOM	Buy	Qualcomm	$10,277,000	+239.4%	90,965	+283.8%	2.05%	+254.3%
BAC	Buy	Bank of America	$10,194,000	+20.3%	337,536	+24.0%	2.03%	+25.6%
AAPL	Buy	Apple	$10,121,000	+6.4%	73,237	+5.2%	2.02%	+11.1%
HON	Buy	Honeywell	$9,706,000	-2.6%	58,132	+1.4%	1.93%	+1.7%
EOG	Buy	EOG Resources	$9,694,000	+25.4%	86,759	+23.9%	1.93%	+30.9%
MSFT	Buy	Microsoft	$9,604,000	-4.5%	41,238	+5.3%	1.91%	-0.3%
SLB	Buy	Schlumberger	$9,569,000	+27.8%	266,542	+27.3%	1.91%	+33.4%
AMZN	Buy	Amazon.com	$9,341,000	+14.3%	82,660	+7.4%	1.86%	+19.4%
DD	Buy	DuPont de Nemours	$8,204,000	-9.2%	162,784	+0.1%	1.64%	-5.1%
ORLY	Sell	O'Reilly Automotive	$6,638,000	+10.3%	9,438	-0.9%	1.32%	+15.2%
KLAC	Buy	KLA	$6,487,000	+21.3%	21,437	+27.9%	1.29%	+26.7%
V	Sell	Visa	$6,209,000	-9.9%	34,950	-0.1%	1.24%	-5.9%
AMT	Sell	American Tower	$5,672,000	-16.9%	26,420	-1.1%	1.13%	-13.2%
RPRX	Buy	Royalty Pharma	$5,586,000	-4.4%	139,024	+0.0%	1.11%	-0.2%
DHR	Buy	Danaher	$5,256,000	+9.8%	20,348	+7.8%	1.05%	+14.7%
SCHW	Sell	Charles Schwab	$5,252,000	+13.5%	73,082	-0.2%	1.05%	+18.5%
FISV	Sell	Fiserv	$5,230,000	-70.5%	55,896	-72.0%	1.04%	-69.2%
CPRT	Sell	Copart	$4,820,000	-2.5%	45,299	-0.4%	0.96%	+1.8%
VRSK	Sell	Verisk Analytics	$4,705,000	-2.7%	27,589	-1.2%	0.94%	+1.6%
APH	Buy	Amphenol	$4,649,000	+7.6%	69,425	+3.5%	0.93%	+12.4%
GMAB	Sell	Genmab ADR	$4,223,000	-1.3%	131,430	-0.2%	0.84%	+3.1%
COO	Buy	Cooper Companies	$4,005,000	-15.4%	15,177	+0.4%	0.80%	-11.6%
	Sell	Constellation Software	$3,990,000	-6.3%	2,850	-0.7%	0.80%	-2.2%
ADBE	Buy	Adobe Systems	$3,880,000	-24.5%	14,100	+0.4%	0.77%	-21.2%
TYL	Sell	Tyler Technologies	$3,782,000	+3.0%	10,884	-1.4%	0.75%	+7.6%
ACN	Buy	Accenture	$3,678,000	-6.8%	14,293	+0.5%	0.73%	-2.7%
SHW	Buy	Sherwin-Williams	$3,640,000	-8.2%	17,777	+0.4%	0.72%	-4.1%
IDXX	Buy	Idexx Laboratories	$3,396,000	+4.4%	10,423	+12.4%	0.68%	+9.0%
NOW	Sell	ServiceNow	$3,292,000	-21.3%	8,718	-0.9%	0.66%	-17.8%
LZAGY	Buy	Lonza Group ADR	$3,095,000	-8.1%	63,582	+0.8%	0.62%	-3.9%
NKE	Buy	Nike	$3,042,000	-18.2%	36,597	+0.5%	0.61%	-14.6%
GILD	Buy	Gilead Sciences	$2,791,000	+0.7%	45,242	+0.9%	0.56%	+5.1%
HD	Sell	Home Depot	$2,753,000	-6.4%	9,977	-7.0%	0.55%	-2.1%
ENB	Buy	Enbridge	$2,544,000	-11.3%	68,570	+1.0%	0.51%	-7.3%
ABBV	Buy	Abbvie	$2,449,000	-6.1%	18,249	+7.1%	0.49%	-2.0%
AMGN	Sell	Amgen	$2,385,000	-25.7%	10,581	-19.9%	0.48%	-22.5%
LYB	Sell	LyondellBasell Industries	$2,316,000	-24.0%	30,759	-11.7%	0.46%	-20.7%
HII	Buy	Huntington Ingalls	$2,278,000	+2.7%	10,284	+0.9%	0.45%	+7.3%
LMT	Buy	Lockheed Martin	$2,251,000	-9.1%	5,826	+1.2%	0.45%	-5.1%
PRU	Buy	Prudential Financial	$2,245,000	-8.3%	26,177	+2.3%	0.45%	-4.3%
BX	Buy	Blackstone Group	$2,227,000	-6.7%	26,605	+1.7%	0.44%	-2.4%
CCI	Buy	Crown Castle International	$2,043,000	-13.3%	14,135	+1.0%	0.41%	-9.4%
MCD	Buy	McDonalds	$2,017,000	-6.2%	8,742	+0.4%	0.40%	-2.0%
DLR	New	Digital Realty Trust	$1,975,000	–	19,916	–	0.39%	–
PAYX	Buy	Paychex	$1,957,000	-0.1%	17,441	+1.4%	0.39%	+4.3%
	Sell	Ryan Specialty Holdings	$1,624,000	+1.2%	39,985	-2.3%	0.32%	+5.9%
CSCO	Buy	Cisco Systems	$1,598,000	+2.2%	39,953	+8.9%	0.32%	+6.7%
ROLL	Sell	RBC Bearings	$1,543,000	+8.7%	7,425	-3.3%	0.31%	+13.3%
	Sell	Aspen Technology	$1,484,000	+26.0%	6,230	-2.9%	0.30%	+31.6%
JKHY	Sell	Jack Henry & Associates	$1,474,000	-1.2%	8,088	-2.4%	0.29%	+3.2%
SBAC	Sell	SBA Communications	$1,436,000	-12.6%	5,045	-1.7%	0.29%	-8.6%
MYOV	Sell	Myovant Sciences	$1,422,000	+40.1%	79,171	-3.0%	0.28%	+45.9%
ICFI	Sell	ICF International	$1,396,000	+11.9%	12,801	-2.5%	0.28%	+16.8%
VRRM	Sell	Verra Mobility	$1,384,000	-5.1%	90,039	-3.0%	0.28%	-0.7%
AVGOP	Sell	BROADCOM INC8% mcnv pfd sr a	$1,305,000	-47.4%	928	-43.8%	0.26%	-45.1%
HALO	Buy	Halozyme Therapeutics	$1,301,000	+4.5%	32,913	+16.3%	0.26%	+8.8%
CTLT	Buy	Catalent	$1,253,000	-30.6%	17,317	+3.0%	0.25%	-27.3%
POOL	Sell	Pool	$1,214,000	-11.7%	3,814	-2.6%	0.24%	-7.6%
QLYS	Sell	Qualys	$1,203,000	+6.5%	8,628	-3.7%	0.24%	+11.1%
MPWR	Sell	Monolithic Power Systems	$1,197,000	-7.6%	3,295	-2.3%	0.24%	-3.6%
BPMC	Buy	Blueprint Medicines	$1,152,000	+50.4%	17,487	+15.3%	0.23%	+57.5%
ZBRA	Sell	Zebra Technologies	$1,143,000	-14.0%	4,364	-3.5%	0.23%	-10.2%
MTD	Sell	Mettler Toledo	$1,067,000	-8.3%	984	-2.8%	0.21%	-4.1%
AVGO	New	Broadcom Limited	$1,042,000	–	2,347	–	0.21%	–
TW	New	Tradeweb Markets	$988,000	–	17,509	–	0.20%	–
ANSS	Buy	Ansys	$986,000	+4.0%	4,449	+12.3%	0.20%	+8.3%
BMRN	Sell	BioMarin Pharmaceuticals	$958,000	-0.1%	11,300	-2.3%	0.19%	+4.4%
DT	Sell	Dynatrace	$932,000	-13.6%	26,763	-2.2%	0.19%	-9.7%
RCKT	Sell	Rocket Pharmaceuticals	$909,000	+9.3%	56,951	-5.8%	0.18%	+13.8%
SPNS	Sell	Sapiens	$829,000	-21.9%	43,203	-1.6%	0.16%	-18.7%
OMCL	Sell	Omnicell	$757,000	-30.1%	8,695	-8.7%	0.15%	-27.1%
CHD	Sell	Church & Dwight	$750,000	-24.8%	10,499	-2.6%	0.15%	-21.6%
NTRA	New	Natera	$734,000	–	16,740	–	0.15%	–
MKSI	Sell	MKS Instruments	$677,000	-21.0%	8,194	-1.8%	0.14%	-17.2%
GOOG	Buy	Alphabet Class C	$604,000	-12.1%	6,280	+1900.0%	0.12%	-8.4%
VICR	Sell	Vicor	$564,000	-16.4%	9,543	-22.6%	0.11%	-13.2%
SBUX	Buy	Starbucks	$397,000	+16.4%	4,710	+5.6%	0.08%	+21.5%
COST	New	Costco	$316,000	–	670	–	0.06%	–
AMN	Exit	AMN Healthcare Services	$0	–	-10,643	–	-0.22%	–
ENTG	Exit	Entegris	$0	–	-28,867	–	-0.51%	–
AMAT	Exit	Applied Materials	$0	–	-84,846	–	-1.47%	–
RNR	Exit	RenaissanceRe	$0	–	-59,334	–	-1.77%	–

Q2 2022

			Value		Shares		↓ Weighting
GOOGL	New	Alphabet Class A	$19,151,000	–	8,788	–	3.65%	–
FISV	New	Fiserv	$17,745,000	–	199,453	–	3.38%	–
BRKB	New	Berkshire Hathaway B	$17,420,000	–	63,806	–	3.32%	–
GD	New	General Dynamics Corp	$15,262,000	–	68,983	–	2.91%	–
MMC	New	Marsh & McLennan	$14,840,000	–	95,585	–	2.83%	–
BMY	New	Bristol-Myers Squibb	$14,441,000	–	187,540	–	2.76%	–
MO	New	Altria Group	$14,117,000	–	337,980	–	2.69%	–
GPC	New	Genuine Parts Co	$13,732,000	–	103,251	–	2.62%	–
UNH	New	UnitedHealth Group	$13,701,000	–	26,675	–	2.61%	–
JNJ	New	Johnson & Johnson	$13,446,000	–	75,750	–	2.56%	–
TROW	New	T. Rowe Price Group	$12,516,000	–	110,167	–	2.39%	–
JPM	New	JPMorgan Chase	$11,698,000	–	103,880	–	2.23%	–
ETN	New	Eaton	$11,482,000	–	91,134	–	2.19%	–
CB	New	Chubb Limited	$10,488,000	–	53,351	–	2.00%	–
KHC	New	Kraft Heinz	$10,268,000	–	269,215	–	1.96%	–
AXP	New	American Express	$10,207,000	–	73,632	–	1.95%	–
GM	New	General Motors	$10,188,000	–	320,767	–	1.94%	–
TXN	New	Texas Instruments	$10,180,000	–	66,253	–	1.94%	–
PSX	New	Phillips 66	$10,055,000	–	122,634	–	1.92%	–
MSFT	New	Microsoft	$10,056,000	–	39,154	–	1.92%	–
HON	New	Honeywell	$9,968,000	–	57,352	–	1.90%	–
DIS	New	Walt Disney	$9,641,000	–	102,131	–	1.84%	–
AAPL	New	Apple	$9,514,000	–	69,584	–	1.82%	–
RNR	New	RenaissanceRe	$9,278,000	–	59,334	–	1.77%	–
DD	New	DuPont de Nemours	$9,034,000	–	162,541	–	1.72%	–
BAC	New	Bank of America	$8,474,000	–	272,227	–	1.62%	–
AMZN	New	Amazon.com	$8,173,000	–	76,951	–	1.56%	–
EOG	New	EOG Resources	$7,731,000	–	70,000	–	1.48%	–
AMAT	New	Applied Materials	$7,719,000	–	84,846	–	1.47%	–
SLB	New	Schlumberger	$7,490,000	–	209,455	–	1.43%	–
V	New	Visa	$6,888,000	–	34,982	–	1.31%	–
AMT	New	American Tower	$6,825,000	–	26,701	–	1.30%	–
ORLY	New	O'Reilly Automotive	$6,018,000	–	9,526	–	1.15%	–
RPRX	New	Royalty Pharma	$5,844,000	–	139,012	–	1.12%	–
KLAC	New	KLA	$5,347,000	–	16,758	–	1.02%	–
ADBE	New	Adobe Systems	$5,140,000	–	14,042	–	0.98%	–
CPRT	New	Copart	$4,944,000	–	45,500	–	0.94%	–
VRSK	New	Verisk Analytics	$4,835,000	–	27,931	–	0.92%	–
DHR	New	Danaher	$4,785,000	–	18,873	–	0.91%	–
COO	New	Cooper Companies	$4,733,000	–	15,116	–	0.90%	–
SCHW	New	Charles Schwab	$4,627,000	–	73,242	–	0.88%	–
APH	New	Amphenol	$4,320,000	–	67,102	–	0.82%	–
GMAB	New	Genmab ADR	$4,279,000	–	131,708	–	0.82%	–
	New	Constellation Software	$4,259,000	–	2,869	–	0.81%	–
NOW	New	ServiceNow	$4,184,000	–	8,798	–	0.80%	–
SHW	New	Sherwin-Williams	$3,965,000	–	17,706	–	0.76%	–
ACN	New	Accenture	$3,948,000	–	14,220	–	0.75%	–
NKE	New	Nike	$3,720,000	–	36,403	–	0.71%	–
TYL	New	Tyler Technologies	$3,672,000	–	11,043	–	0.70%	–
LZAGY	New	Lonza Group ADR	$3,366,000	–	63,052	–	0.64%	–
IDXX	New	Idexx Laboratories	$3,253,000	–	9,275	–	0.62%	–
AMGN	New	Amgen	$3,212,000	–	13,203	–	0.61%	–
LYB	New	LyondellBasell Industries	$3,048,000	–	34,854	–	0.58%	–
QCOM	New	Qualcomm	$3,028,000	–	23,703	–	0.58%	–
HD	New	Home Depot	$2,942,000	–	10,728	–	0.56%	–
ENB	New	Enbridge	$2,868,000	–	67,875	–	0.55%	–
GILD	New	Gilead Sciences	$2,771,000	–	44,829	–	0.53%	–
ENTG	New	Entegris	$2,660,000	–	28,867	–	0.51%	–
ABBV	New	Abbvie	$2,609,000	–	17,032	–	0.50%	–
AVGOP	New	BROADCOM INC8% mcnv pfd sr a	$2,483,000	–	1,652	–	0.47%	–
LMT	New	Lockheed Martin	$2,475,000	–	5,757	–	0.47%	–
PRU	New	Prudential Financial	$2,448,000	–	25,587	–	0.47%	–
BX	New	Blackstone Group	$2,386,000	–	26,158	–	0.46%	–
CCI	New	Crown Castle International	$2,356,000	–	13,994	–	0.45%	–
HII	New	Huntington Ingalls	$2,219,000	–	10,188	–	0.42%	–
MCD	New	McDonalds	$2,151,000	–	8,711	–	0.41%	–
PAYX	New	Paychex	$1,958,000	–	17,193	–	0.37%	–
CTLT	New	Catalent	$1,805,000	–	16,820	–	0.34%	–
SBAC	New	SBA Communications	$1,643,000	–	5,133	–	0.31%	–
	New	Ryan Specialty Holdings	$1,604,000	–	40,929	–	0.31%	–
CSCO	New	Cisco Systems	$1,564,000	–	36,675	–	0.30%	–
JKHY	New	Jack Henry & Associates	$1,492,000	–	8,286	–	0.28%	–
VRRM	New	Verra Mobility	$1,458,000	–	92,784	–	0.28%	–
ROLL	New	RBC Bearings	$1,419,000	–	7,675	–	0.27%	–
POOL	New	Pool	$1,375,000	–	3,914	–	0.26%	–
ZBRA	New	Zebra Technologies	$1,329,000	–	4,520	–	0.25%	–
BND	New	VANGUARD BD INDEX FDStotal bnd mrkt	$1,328,000	–	17,640	–	0.25%	–
MPWR	New	Monolithic Power Systems	$1,295,000	–	3,372	–	0.25%	–
HALO	New	Halozyme Therapeutics	$1,245,000	–	28,293	–	0.24%	–
ICFI	New	ICF International	$1,248,000	–	13,132	–	0.24%	–
	New	Aspen Technology	$1,178,000	–	6,414	–	0.22%	–
AMN	New	AMN Healthcare Services	$1,168,000	–	10,643	–	0.22%	–
MTD	New	Mettler Toledo	$1,163,000	–	1,012	–	0.22%	–
QLYS	New	Qualys	$1,130,000	–	8,959	–	0.22%	–
OMCL	New	Omnicell	$1,083,000	–	9,523	–	0.21%	–
DT	New	Dynatrace	$1,079,000	–	27,368	–	0.21%	–
SPNS	New	Sapiens	$1,062,000	–	43,899	–	0.20%	–
MYOV	New	Myovant Sciences	$1,015,000	–	81,621	–	0.19%	–
CHD	New	Church & Dwight	$998,000	–	10,775	–	0.19%	–
BMRN	New	BioMarin Pharmaceuticals	$959,000	–	11,569	–	0.18%	–
ANSS	New	Ansys	$948,000	–	3,963	–	0.18%	–
MKSI	New	MKS Instruments	$857,000	–	8,346	–	0.16%	–
RCKT	New	Rocket Pharmaceuticals	$832,000	–	60,475	–	0.16%	–
BPMC	New	Blueprint Medicines	$766,000	–	15,164	–	0.15%	–
GOOG	New	Alphabet Class C	$687,000	–	314	–	0.13%	–
VICR	New	Vicor	$675,000	–	12,334	–	0.13%	–
IWF	New	ISHARES TRrus 1000 grw etf	$440,000	–	2,011	–	0.08%	–
MUB	New	ISHARES TRnational mun etf	$399,000	–	3,750	–	0.08%	–
SBUX	New	Starbucks	$341,000	–	4,460	–	0.06%	–

Q4 2021

			Value		Shares		↓ Weighting
ECL	Exit	Ecolab	$0	–	-1,370	–	-0.04%	–
SBUX	Exit	Starbucks	$0	–	-4,085	–	-0.07%	–
IWF	Exit	iShares Russell 1000 Growthrus 1000 grw etf	$0	–	-2,011	–	-0.08%	–
GOOG	Exit	Alphabet Class C	$0	–	-356	–	-0.14%	–
IPGP	Exit	IPG Photonics	$0	–	-6,571	–	-0.16%	–
RCKT	Exit	Rocket Pharmaceuticals	$0	–	-37,782	–	-0.17%	–
CHD	Exit	Church & Dwight	$0	–	-14,218	–	-0.18%	–
BMRN	Exit	BioMarin Pharmaceutical	$0	–	-16,403	–	-0.19%	–
DT	Exit	Dynatrace	$0	–	-19,986	–	-0.22%	–
MKSI	Exit	MKS Instruments	$0	–	-9,637	–	-0.22%	–
TDOC	Exit	Teladoc	$0	–	-11,981	–	-0.23%	–
ICFI	Exit	ICF International	$0	–	-17,271	–	-0.24%	–
CSCO	Exit	Cisco Systems	$0	–	-30,102	–	-0.25%	–
BPMC	Exit	Blueprint Medicines	$0	–	-15,938	–	-0.25%	–
HXL	Exit	Hexcel	$0	–	-27,870	–	-0.25%	–
MYOV	Exit	Myovant Sciences	$0	–	-74,305	–	-0.26%	–
SPNS	Exit	Sapiens	$0	–	-59,009	–	-0.26%	–
QLYS	Exit	Qualys	$0	–	-15,633	–	-0.27%	–
ANSS	Exit	Ansys	$0	–	-5,134	–	-0.27%	–
CCI	Exit	Crown Castle International	$0	–	-10,140	–	-0.27%	–
MCD	Exit	McDonalds	$0	–	-7,370	–	-0.27%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-10,857	–	-0.27%	–
CMI	Exit	Cummins	$0	–	-8,045	–	-0.28%	–
VRRM	Exit	Verra Mobility	$0	–	-119,891	–	-0.28%	–
MTD	Exit	Mettler Toledo	$0	–	-1,331	–	-0.28%	–
MMM	Exit	3M Company	$0	–	-10,466	–	-0.28%	–
OMCL	Exit	Omnicell	$0	–	-12,427	–	-0.28%	–
HALO	Exit	Halozyme Therapeutics	$0	–	-46,669	–	-0.29%	–
AZPN	Exit	Aspen Technology	$0	–	-15,466	–	-0.29%	–
PAYX	Exit	Paychex	$0	–	-17,163	–	-0.30%	–
LMT	Exit	Lockheed Martin	$0	–	-5,768	–	-0.30%	–
QCOM	Exit	Qualcomm	$0	–	-15,547	–	-0.31%	–
AMN	Exit	AMN Healthcare Services	$0	–	-17,513	–	-0.31%	–
COR	Exit	CoreSite Realty	$0	–	-14,743	–	-0.31%	–
LYB	Exit	LyondellBasell Industries	$0	–	-21,924	–	-0.32%	–
GILD	Exit	Gilead Sciences	$0	–	-29,737	–	-0.32%	–
ROLL	Exit	RBC Bearings	$0	–	-9,936	–	-0.32%	–
ABBV	Exit	Abbvie	$0	–	-19,753	–	-0.33%	–
AMGN	Exit	Amgen	$0	–	-10,332	–	-0.34%	–
POOL	Exit	Pool	$0	–	-5,084	–	-0.34%	–
MPWR	Exit	Monolithic Power System	$0	–	-4,644	–	-0.34%	–
SBAC	Exit	SBA Communications	$0	–	-6,962	–	-0.35%	–
PRU	Exit	Prudential Financial	$0	–	-22,006	–	-0.35%	–
ENB	Exit	Enbridge	$0	–	-58,063	–	-0.35%	–
HD	Exit	Home Depot	$0	–	-7,152	–	-0.36%	–
BX	Exit	Blackstone Group	$0	–	-20,298	–	-0.36%	–
CTLT	Exit	Catalent	$0	–	-18,119	–	-0.37%	–
ZBRA	Exit	Zebra Technologies	$0	–	-5,027	–	-0.40%	–
TYL	Exit	Tyler Technologies	$0	–	-10,320	–	-0.72%	–
NKE	Exit	Nike	$0	–	-35,026	–	-0.78%	–
SCHW	Exit	Charles Schwab	$0	–	-70,307	–	-0.78%	–
	Exit	Constellation Software	$0	–	-3,258	–	-0.82%	–
APH	Exit	Amphenol	$0	–	-75,802	–	-0.85%	–
SHW	Exit	Sherwin-Williams	$0	–	-20,176	–	-0.86%	–
ROP	Exit	Roper Technologies	$0	–	-12,763	–	-0.87%	–
KLAC	Exit	KLA	$0	–	-17,317	–	-0.89%	–
ACN	Exit	Accenture	$0	–	-18,203	–	-0.89%	–
GMAB	Exit	Genmab ADR	$0	–	-145,698	–	-0.97%	–
VRSK	Exit	Verisk Analytics	$0	–	-32,009	–	-0.98%	–
IDXX	Exit	Idexx Laboratories	$0	–	-10,336	–	-0.98%	–
FB	Exit	Facebook Inc-A	$0	–	-20,628	–	-1.07%	–
COO	Exit	Cooper Companies	$0	–	-17,136	–	-1.08%	–
ADBE	Exit	Adobe Systems	$0	–	-12,548	–	-1.10%	–
V	Exit	Visa	$0	–	-33,247	–	-1.13%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-12,315	–	-1.15%	–
AMT	Exit	American Tower	$0	–	-29,348	–	-1.19%	–
LZAGY	Exit	Lonza Group ADR	$0	–	-107,273	–	-1.23%	–
CPRT	Exit	Copart	$0	–	-61,344	–	-1.30%	–
DHR	Exit	Danaher	$0	–	-29,167	–	-1.36%	–
L	Exit	Loews	$0	–	-179,198	–	-1.48%	–
EOG	Exit	EOG Resources	$0	–	-125,241	–	-1.54%	–
PSX	Exit	Phillips 66	$0	–	-144,261	–	-1.55%	–
INTC	Exit	Intel	$0	–	-190,570	–	-1.55%	–
MSFT	Exit	Microsoft	$0	–	-40,010	–	-1.73%	–
KHC	Exit	Kraft Heinz	$0	–	-327,927	–	-1.85%	–
VMW	Exit	VMware, Inc. Class A	$0	–	-82,429	–	-1.88%	–
AAPL	Exit	Apple	$0	–	-87,158	–	-1.89%	–
AMZN	Exit	Amazon.com	$0	–	-3,807	–	-1.91%	–
DD	Exit	DuPont de Nemours	$0	–	-185,791	–	-1.93%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-214,596	–	-1.94%	–
DIS	Exit	Walt Disney	$0	–	-76,815	–	-1.99%	–
SLB	Exit	Schlumberger	$0	–	-462,660	–	-2.10%	–
HON	Exit	Honeywell	$0	–	-67,202	–	-2.18%	–
BAC	Exit	Bank of America	$0	–	-337,908	–	-2.20%	–
GPC	Exit	Genuine Parts Co.	$0	–	-118,467	–	-2.20%	–
UNH	Exit	UnitedHealth Group	$0	–	-38,105	–	-2.28%	–
CB	Exit	Chubb Limited	$0	–	-93,606	–	-2.48%	–
ETN	Exit	Eaton	$0	–	-110,553	–	-2.53%	–
JNJ	Exit	Johnson & Johnson	$0	–	-104,233	–	-2.58%	–
MO	Exit	Altria Group	$0	–	-384,252	–	-2.68%	–
MMC	Exit	Marsh & McLennan	$0	–	-116,427	–	-2.70%	–
GD	Exit	General Dynamics Corp	$0	–	-90,319	–	-2.71%	–
CMCSA	Exit	Comcast Class A	$0	–	-319,974	–	-2.74%	–
AXP	Exit	American Express	$0	–	-109,079	–	-2.80%	–
JPM	Exit	JPMorgan Chase	$0	–	-114,602	–	-2.87%	–
BRKB	Exit	Berkshire Hathaway B	$0	–	-74,832	–	-3.13%	–
GOOGL	Exit	Alphabet Class A	$0	–	-7,962	–	-3.26%	–
FISV	Exit	Fiserv	$0	–	-204,766	–	-3.40%	–

Q3 2021

			Value		Shares		↓ Weighting
FISV	Buy	Fiserv	$22,217,000	+27.5%	204,766	+25.6%	3.40%	+32.7%
GOOGL	Buy	Alphabet Class A	$21,287,000	+73.7%	7,962	+58.7%	3.26%	+80.7%
BRKB	Sell	Berkshire Hathaway B	$20,425,000	-17.2%	74,832	-15.7%	3.13%	-13.8%
JPM	Buy	JPMorgan Chase	$18,759,000	+5.5%	114,602	+0.3%	2.87%	+9.8%
CMCSA	Buy	Comcast Class A	$17,896,000	-1.8%	319,974	+0.2%	2.74%	+2.2%
GD	Sell	General Dynamics Corp	$17,705,000	+4.1%	90,319	-0.1%	2.71%	+8.3%
MO	Buy	Altria Group	$17,491,000	-4.4%	384,252	+0.2%	2.68%	-0.4%
JNJ	Sell	Johnson & Johnson	$16,834,000	-6.9%	104,233	-5.1%	2.58%	-3.2%
UNH	Sell	UnitedHealth Group	$14,889,000	-8.1%	38,105	-5.9%	2.28%	-4.4%
GPC	Buy	Genuine Parts Co.	$14,362,000	-4.0%	118,467	+0.1%	2.20%	-0.1%
BAC	Buy	Bank of America	$14,344,000	+3.1%	337,908	+0.1%	2.20%	+7.3%
DIS	Buy	Walt Disney	$12,995,000	-3.6%	76,815	+0.1%	1.99%	+0.3%
AMZN	Sell	Amazon.com	$12,506,000	-5.1%	3,807	-0.7%	1.91%	-1.3%
AAPL	Sell	Apple	$12,333,000	+0.2%	87,158	-3.0%	1.89%	+4.3%
VMW	Buy	VMware, Inc. Class A	$12,257,000	+0.7%	82,429	+8.4%	1.88%	+4.9%
MSFT	Sell	Microsoft	$11,280,000	+1.8%	40,010	-2.2%	1.73%	+6.0%
PSX	Buy	Phillips 66	$10,103,000	+364.5%	144,261	+469.2%	1.55%	+383.1%
EOG	New	EOG Resources	$10,053,000	–	125,241	–	1.54%	–
L	Sell	Loews	$9,664,000	-28.4%	179,198	-27.5%	1.48%	-25.5%
DHR	Sell	Danaher	$8,880,000	+8.2%	29,167	-4.6%	1.36%	+12.6%
CPRT	Sell	Copart	$8,510,000	-11.6%	61,344	-16.0%	1.30%	-8.1%
LZAGY	Buy	Lonza Group ADR	$8,026,000	+5.7%	107,273	+0.2%	1.23%	+10.0%
AMT	Sell	American Tower	$7,789,000	-4.9%	29,348	-3.2%	1.19%	-1.1%
ORLY	Buy	O'Reilly Automotive	$7,525,000	+10.6%	12,315	+2.5%	1.15%	+15.1%
V	Sell	Visa	$7,406,000	-5.6%	33,247	-0.9%	1.13%	-1.8%
ADBE	Sell	Adobe Systems	$7,224,000	-17.5%	12,548	-16.1%	1.10%	-14.2%
COO	Buy	Cooper Companies	$7,082,000	+15.4%	17,136	+10.7%	1.08%	+20.2%
FB	Buy	Facebook Inc-A	$7,001,000	+9.0%	20,628	+11.7%	1.07%	+13.5%
IDXX	Sell	Idexx Laboratories	$6,428,000	-3.3%	10,336	-1.8%	0.98%	+0.6%
VRSK	Sell	Verisk Analytics	$6,410,000	+12.9%	32,009	-1.5%	0.98%	+17.5%
GMAB	Sell	Genmab ADR	$6,367,000	+6.2%	145,698	-0.7%	0.97%	+10.6%
ACN	Sell	Accenture	$5,824,000	+8.5%	18,203	-0.0%	0.89%	+12.9%
KLAC	Buy	KLA	$5,793,000	+4.4%	17,317	+1.2%	0.89%	+8.6%
SHW	Sell	Sherwin-Williams	$5,644,000	+0.2%	20,176	-2.4%	0.86%	+4.3%
APH	Sell	Amphenol	$5,551,000	+5.4%	75,802	-1.5%	0.85%	+9.7%
	Sell	Constellation Software	$5,352,000	+4.3%	3,258	-3.7%	0.82%	+8.5%
SCHW	Sell	Charles Schwab	$5,121,000	-0.5%	70,307	-0.6%	0.78%	+3.6%
NKE	Sell	Nike	$5,087,000	-26.3%	35,026	-21.6%	0.78%	-23.3%
TYL	Buy	Tyler Technologies	$4,733,000	+24.4%	10,320	+22.7%	0.72%	+29.5%
ZBRA	Sell	Zebra Technologies	$2,591,000	-12.6%	5,027	-10.2%	0.40%	-9.2%
CTLT	Sell	Catalent	$2,411,000	+13.1%	18,119	-8.1%	0.37%	+17.9%
BX	Sell	Blackstone Group	$2,361,000	-3.2%	20,298	-19.1%	0.36%	+0.8%
HD	Buy	Home Depot	$2,348,000	+3.3%	7,152	+0.3%	0.36%	+7.5%
ENB	Buy	Enbridge	$2,311,000	+1.4%	58,063	+2.0%	0.35%	+5.7%
PRU	Buy	Prudential Financial	$2,315,000	+2.9%	22,006	+0.3%	0.35%	+6.9%
SBAC	Buy	SBA Communications	$2,301,000	+4.2%	6,962	+0.4%	0.35%	+8.3%
MPWR	Buy	Monolithic Power System	$2,251,000	+30.3%	4,644	+0.4%	0.34%	+35.4%
POOL	Buy	Pool	$2,209,000	-4.5%	5,084	+0.9%	0.34%	-0.6%
AMGN	Buy	Amgen	$2,197,000	-0.5%	10,332	+14.0%	0.34%	+3.4%
ABBV	Buy	Abbvie	$2,131,000	-3.1%	19,753	+1.2%	0.33%	+0.9%
ROLL	Buy	RBC Bearings	$2,108,000	+59.0%	9,936	+49.5%	0.32%	+65.6%
GILD	Buy	Gilead Sciences	$2,077,000	+3.3%	29,737	+1.9%	0.32%	+7.4%
LYB	Buy	LyondellBasell Industries	$2,058,000	-6.4%	21,924	+2.5%	0.32%	-2.5%
COR	Sell	CoreSite Realty	$2,042,000	-13.5%	14,743	-16.0%	0.31%	-10.1%
AMN	Sell	AMN Healthcare Services	$2,010,000	+11.7%	17,513	-5.6%	0.31%	+16.2%
QCOM	Buy	Qualcomm	$2,005,000	-7.7%	15,547	+2.2%	0.31%	-4.1%
LMT	Buy	Lockheed Martin	$1,991,000	-7.9%	5,768	+0.9%	0.30%	-4.1%
PAYX	Buy	Paychex	$1,930,000	+4.9%	17,163	+0.2%	0.30%	+9.3%
AZPN	Sell	Aspen Technology	$1,899,000	-17.2%	15,466	-7.3%	0.29%	-13.6%
HALO	Buy	Halozyme Therapeutics	$1,898,000	-9.3%	46,669	+1.3%	0.29%	-5.8%
OMCL	Buy	Omnicell	$1,845,000	-1.2%	12,427	+0.8%	0.28%	+2.5%
MMM	Buy	3M Company	$1,836,000	-10.3%	10,466	+1.6%	0.28%	-6.6%
MTD	Buy	Mettler Toledo	$1,833,000	-0.1%	1,331	+0.5%	0.28%	+3.7%
CMI	Buy	Cummins	$1,807,000	-5.7%	8,045	+2.4%	0.28%	-1.8%
VRRM	Buy	Verra Mobility	$1,807,000	-0.9%	119,891	+1.0%	0.28%	+3.4%
JKHY	Buy	Jack Henry & Associates	$1,781,000	+1.1%	10,857	+0.8%	0.27%	+5.4%
MCD	Buy	McDonalds	$1,777,000	+6.2%	7,370	+1.7%	0.27%	+10.6%
CCI	Buy	Crown Castle International	$1,757,000	-9.8%	10,140	+1.6%	0.27%	-5.9%
ANSS	Sell	Ansys	$1,748,000	-7.0%	5,134	-5.2%	0.27%	-3.3%
QLYS	Sell	Qualys	$1,740,000	-1.7%	15,633	-11.1%	0.27%	+2.3%
SPNS	Buy	Sapiens	$1,698,000	+10.3%	59,009	+0.7%	0.26%	+15.0%
MYOV	Buy	Myovant Sciences	$1,667,000	-0.7%	74,305	+0.8%	0.26%	+3.2%
HXL	Buy	Hexcel	$1,655,000	-4.2%	27,870	+0.7%	0.25%	-0.4%
BPMC	Buy	Blueprint Medicines	$1,639,000	+57.3%	15,938	+34.5%	0.25%	+64.1%
CSCO	Buy	Cisco Systems	$1,638,000	+4.2%	30,102	+1.5%	0.25%	+8.7%
ICFI	Buy	ICF International	$1,542,000	+2.5%	17,271	+0.9%	0.24%	+6.8%
TDOC	Buy	Teladoc	$1,519,000	-22.9%	11,981	+1.1%	0.23%	-20.0%
MKSI	Buy	MKS Instruments	$1,454,000	-14.2%	9,637	+1.2%	0.22%	-10.8%
DT	Buy	Dynatrace	$1,418,000	+35.6%	19,986	+11.6%	0.22%	+40.9%
BMRN	Buy	BioMarin Pharmaceutical	$1,268,000	-6.2%	16,403	+1.3%	0.19%	-2.5%
CHD	Buy	Church & Dwight	$1,174,000	-1.8%	14,218	+1.3%	0.18%	+2.3%
RCKT	Buy	Rocket Pharmaceuticals	$1,129,000	-31.8%	37,782	+1.1%	0.17%	-28.8%
IPGP	Buy	IPG Photonics	$1,041,000	-23.7%	6,571	+1.5%	0.16%	-20.9%
GOOG	Sell	Alphabet Class C	$949,000	+6.0%	356	-0.3%	0.14%	+9.8%
IWF	Sell	iShares Russell 1000 Growthrus 1000 grw etf	$551,000	-17.5%	2,011	-18.3%	0.08%	-14.3%
IWP	Exit	iShares Russell Midcap Growthrus md cp gr etf	$0	–	-2,044	–	-0.03%	–
PRAA	Exit	PRA Group	$0	–	-34,554	–	-0.20%	–
ORCL	Exit	Oracle	$0	–	-155,247	–	-1.78%	–
SEIC	Exit	SEI Investments	$0	–	-224,440	–	-2.04%	–
RDSA	Exit	Royal Dutch Shell Class A	$0	–	-387,990	–	-2.30%	–

Q2 2021

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway B	$24,666,000	–	88,751	–	3.63%	–
MO	New	Altria Group	$18,287,000	–	383,526	–	2.69%	–
CMCSA	New	Comcast Class A	$18,217,000	–	319,492	–	2.68%	–
JNJ	New	Johnson & Johnson	$18,091,000	–	109,817	–	2.66%	–
AXP	New	American Express	$18,023,000	–	109,079	–	2.65%	–
JPM	New	JPMorgan Chase	$17,779,000	–	114,308	–	2.61%	–
FISV	New	Fiserv	$17,423,000	–	162,997	–	2.56%	–
GD	New	General Dynamics Corp	$17,014,000	–	90,374	–	2.50%	–
ETN	New	Eaton	$16,382,000	–	110,553	–	2.41%	–
MMC	New	Marsh & McLennan	$16,379,000	–	116,427	–	2.41%	–
UNH	New	UnitedHealth Group	$16,208,000	–	40,476	–	2.38%	–
RDSA	New	Royal Dutch Shell Class A	$15,675,000	–	387,990	–	2.30%	–
GPC	New	Genuine Parts Co.	$14,966,000	–	118,335	–	2.20%	–
CB	New	Chubb Limited	$14,878,000	–	93,606	–	2.19%	–
SLB	New	Schlumberger	$14,810,000	–	462,660	–	2.18%	–
HON	New	Honeywell	$14,741,000	–	67,202	–	2.17%	–
DD	New	DuPont de Nemours	$14,382,000	–	185,791	–	2.12%	–
BMY	New	Bristol Myers Squibb	$14,339,000	–	214,596	–	2.11%	–
BAC	New	Bank of America	$13,911,000	–	337,408	–	2.05%	–
SEIC	New	SEI Investments	$13,909,000	–	224,440	–	2.04%	–
L	New	Loews	$13,501,000	–	247,045	–	1.98%	–
DIS	New	Walt Disney	$13,484,000	–	76,715	–	1.98%	–
KHC	New	Kraft Heinz	$13,373,000	–	327,927	–	1.97%	–
AMZN	New	Amazon.com	$13,183,000	–	3,832	–	1.94%	–
AAPL	New	Apple	$12,304,000	–	89,837	–	1.81%	–
GOOGL	New	Alphabet Class A	$12,253,000	–	5,018	–	1.80%	–
VMW	New	VMware, Inc. Class A	$12,169,000	–	76,069	–	1.79%	–
ORCL	New	Oracle	$12,084,000	–	155,247	–	1.78%	–
MSFT	New	Microsoft	$11,077,000	–	40,890	–	1.63%	–
INTC	New	Intel	$10,699,000	–	190,570	–	1.57%	–
CPRT	New	Copart	$9,632,000	–	73,066	–	1.42%	–
ADBE	New	Adobe Systems	$8,759,000	–	14,957	–	1.29%	–
DHR	New	Danaher	$8,206,000	–	30,579	–	1.21%	–
AMT	New	American Tower	$8,192,000	–	30,326	–	1.20%	–
V	New	Visa	$7,848,000	–	33,563	–	1.15%	–
LZAGY	New	Lonza Group ADR	$7,592,000	–	107,066	–	1.12%	–
NKE	New	Nike	$6,899,000	–	44,656	–	1.01%	–
ORLY	New	O'Reilly Automotive	$6,805,000	–	12,019	–	1.00%	–
IDXX	New	Idexx Laboratories	$6,649,000	–	10,528	–	0.98%	–
FB	New	Facebook Inc-A	$6,420,000	–	18,465	–	0.94%	–
COO	New	Cooper Companies	$6,135,000	–	15,481	–	0.90%	–
ROP	New	Roper Technologies	$6,001,000	–	12,763	–	0.88%	–
GMAB	New	Genmab ADR	$5,993,000	–	146,774	–	0.88%	–
VRSK	New	Verisk Analytics	$5,676,000	–	32,488	–	0.84%	–
SHW	New	Sherwin-Williams	$5,631,000	–	20,669	–	0.83%	–
KLAC	New	KLA	$5,547,000	–	17,109	–	0.82%	–
ACN	New	Accenture	$5,369,000	–	18,212	–	0.79%	–
APH	New	Amphenol	$5,265,000	–	76,956	–	0.77%	–
SCHW	New	Charles Schwab	$5,149,000	–	70,725	–	0.76%	–
	New	Constellation Software	$5,133,000	–	3,384	–	0.76%	–
TYL	New	Tyler Technologies	$3,804,000	–	8,410	–	0.56%	–
ZBRA	New	Zebra Technologies	$2,965,000	–	5,600	–	0.44%	–
BX	New	Blackstone Group	$2,438,000	–	25,102	–	0.36%	–
COR	New	CoreSite Realty	$2,362,000	–	17,552	–	0.35%	–
POOL	New	Pool	$2,312,000	–	5,040	–	0.34%	–
AZPN	New	Aspen Technology	$2,294,000	–	16,681	–	0.34%	–
ENB	New	Enbridge	$2,279,000	–	56,923	–	0.34%	–
HD	New	Home Depot	$2,273,000	–	7,129	–	0.33%	–
PRU	New	Prudential Financial	$2,249,000	–	21,951	–	0.33%	–
SBAC	New	SBA Communications	$2,209,000	–	6,932	–	0.32%	–
AMGN	New	Amgen	$2,208,000	–	9,060	–	0.32%	–
LYB	New	LyondellBasell Industries	$2,199,000	–	21,381	–	0.32%	–
ABBV	New	Abbvie	$2,199,000	–	19,525	–	0.32%	–
QCOM	New	Qualcomm	$2,173,000	–	15,205	–	0.32%	–
PSX	New	Phillips 66	$2,175,000	–	25,343	–	0.32%	–
LMT	New	Lockheed Martin	$2,162,000	–	5,714	–	0.32%	–
CTLT	New	Catalent	$2,131,000	–	19,708	–	0.31%	–
HALO	New	Halozyme Therapeutics	$2,093,000	–	46,086	–	0.31%	–
MMM	New	3M Company	$2,046,000	–	10,303	–	0.30%	–
GILD	New	Gilead Sciences	$2,010,000	–	29,192	–	0.30%	–
TDOC	New	Teladoc	$1,971,000	–	11,851	–	0.29%	–
CCI	New	Crown Castle International	$1,947,000	–	9,982	–	0.29%	–
CMI	New	Cummins	$1,916,000	–	7,857	–	0.28%	–
ANSS	New	Ansys	$1,879,000	–	5,415	–	0.28%	–
OMCL	New	Omnicell	$1,868,000	–	12,332	–	0.28%	–
MTD	New	Mettler Toledo	$1,834,000	–	1,324	–	0.27%	–
PAYX	New	Paychex	$1,839,000	–	17,137	–	0.27%	–
VRRM	New	Verra Mobility	$1,824,000	–	118,661	–	0.27%	–
AMN	New	AMN Healthcare Services	$1,800,000	–	18,556	–	0.26%	–
QLYS	New	Qualys	$1,770,000	–	17,581	–	0.26%	–
JKHY	New	Jack Henry & Associates	$1,762,000	–	10,776	–	0.26%	–
HXL	New	Hexcel	$1,727,000	–	27,670	–	0.25%	–
MPWR	New	Monolithic Power System	$1,728,000	–	4,626	–	0.25%	–
MKSI	New	MKS Instruments	$1,694,000	–	9,519	–	0.25%	–
MYOV	New	Myovant Sciences	$1,678,000	–	73,704	–	0.25%	–
MCD	New	McDonalds	$1,674,000	–	7,246	–	0.25%	–
RCKT	New	Rocket Pharmaceuticals	$1,655,000	–	37,360	–	0.24%	–
CSCO	New	Cisco Systems	$1,572,000	–	29,669	–	0.23%	–
SPNS	New	Sapiens	$1,539,000	–	58,587	–	0.23%	–
ICFI	New	ICF International	$1,504,000	–	17,122	–	0.22%	–
IPGP	New	IPG Photonics	$1,364,000	–	6,472	–	0.20%	–
BMRN	New	BioMarin Pharmaceutical	$1,352,000	–	16,199	–	0.20%	–
ROLL	New	RBC Bearings	$1,326,000	–	6,648	–	0.20%	–
PRAA	New	PRA Group	$1,329,000	–	34,554	–	0.20%	–
CHD	New	Church & Dwight	$1,196,000	–	14,036	–	0.18%	–
DT	New	Dynatrace	$1,046,000	–	17,906	–	0.15%	–
BPMC	New	Blueprint Medicines	$1,042,000	–	11,849	–	0.15%	–
GOOG	New	Alphabet Class C	$895,000	–	357	–	0.13%	–
IWF	New	iShares Russell 1000 Growthrus 1000 grw etf	$668,000	–	2,461	–	0.10%	–
SBUX	New	Starbucks	$457,000	–	4,085	–	0.07%	–
ECL	New	Ecolab	$282,000	–	1,370	–	0.04%	–
IWP	New	iShares Russell Midcap Growthrus md cp gr etf	$231,000	–	2,044	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
MA	Exit	Mastercard	$0	–	-659	–	-0.04%	–
ECL	Exit	Ecolab	$0	–	-1,623	–	-0.06%	–
SBUX	Exit	Starbucks	$0	–	-4,000	–	-0.06%	–
IWF	Exit	iShares Russell 1000 Growth	$0	–	-2,461	–	-0.10%	–
GOOG	Exit	Alphabet Class C	$0	–	-367	–	-0.10%	–
MYOV	Exit	Myovant Sciences	$0	–	-61,262	–	-0.16%	–
HXL	Exit	Hexcel	$0	–	-25,883	–	-0.16%	–
ICFI	Exit	ICF International	$0	–	-15,069	–	-0.17%	–
AMN	Exit	AMN Healthcare Services	$0	–	-17,245	–	-0.18%	–
VRRM	Exit	Verra Mobility	$0	–	-105,955	–	-0.19%	–
IPGP	Exit	IPG Photonics	$0	–	-6,187	–	-0.19%	–
MKSI	Exit	MKS Instruments	$0	–	-9,881	–	-0.20%	–
RCKT	Exit	Rocket Pharmaceuticals	$0	–	-48,795	–	-0.20%	–
CSCO	Exit	Cisco Systems	$0	–	-30,408	–	-0.22%	–
PSX	Exit	Phillips 66	$0	–	-23,578	–	-0.22%	–
CHD	Exit	Church & Dwight	$0	–	-12,989	–	-0.22%	–
HALO	Exit	Halozyme Therapeutics	$0	–	-46,750	–	-0.23%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-7,741	–	-0.23%	–
MRK	Exit	Merck	$0	–	-15,199	–	-0.23%	–
PRAA	Exit	PRA Group	$0	–	-31,883	–	-0.23%	–
OMCL	Exit	Omnicell	$0	–	-17,219	–	-0.24%	–
ZBRA	Exit	Zebra Technologies	$0	–	-5,581	–	-0.26%	–
MPWR	Exit	Monolithic Power System	$0	–	-5,181	–	-0.27%	–
CYBR	Exit	CyberArk Software	$0	–	-14,755	–	-0.28%	–
LMT	Exit	Lockheed Martin	$0	–	-3,997	–	-0.28%	–
MTD	Exit	Mettler Toledo	$0	–	-1,624	–	-0.29%	–
MO	Exit	Altria Group	$0	–	-41,024	–	-0.29%	–
CVS	Exit	CVS Health	$0	–	-27,234	–	-0.29%	–
DNKN	Exit	Dunkin' Brands	$0	–	-19,622	–	-0.30%	–
ENB	Exit	Enbridge	$0	–	-56,484	–	-0.30%	–
GILD	Exit	Gilead Sciences	$0	–	-26,422	–	-0.31%	–
ANSS	Exit	Ansys	$0	–	-5,208	–	-0.31%	–
COR	Exit	CoreSite Realty	$0	–	-14,349	–	-0.31%	–
CCI	Exit	Crown Castle International	$0	–	-10,278	–	-0.31%	–
PRU	Exit	Prudential Financial	$0	–	-27,463	–	-0.32%	–
MMM	Exit	3M Company	$0	–	-10,908	–	-0.32%	–
CMCSA	Exit	Comcast Class A	$0	–	-37,880	–	-0.32%	–
BX	Exit	Blackstone Group	$0	–	-33,998	–	-0.33%	–
AMGN	Exit	Amgen	$0	–	-7,034	–	-0.33%	–
CMI	Exit	Cummins	$0	–	-8,537	–	-0.33%	–
ABBV	Exit	Abbvie	$0	–	-20,597	–	-0.33%	–
SBAC	Exit	SBA Communications	$0	–	-5,811	–	-0.34%	–
LYB	Exit	LyondellBasell Industries	$0	–	-26,341	–	-0.34%	–
POOL	Exit	Pool	$0	–	-5,575	–	-0.34%	–
QLYS	Exit	Qualys	$0	–	-19,135	–	-0.34%	–
CTLT	Exit	Catalent	$0	–	-23,297	–	-0.37%	–
MCD	Exit	McDonalds	$0	–	-9,167	–	-0.37%	–
QCOM	Exit	Qualcomm	$0	–	-17,156	–	-0.37%	–
TDOC	Exit	Teladoc	$0	–	-9,481	–	-0.38%	–
HD	Exit	Home Depot	$0	–	-8,324	–	-0.42%	–
AZPN	Exit	Aspen Technology	$0	–	-18,737	–	-0.44%	–
MSI	Exit	Motorola Solutions	$0	–	-26,451	–	-0.76%	–
APH	Exit	Amphenol	$0	–	-40,474	–	-0.80%	–
ACN	Exit	Accenture	$0	–	-19,523	–	-0.81%	–
CNC	Exit	Centene	$0	–	-81,332	–	-0.87%	–
FB	Exit	Facebook Inc-A	$0	–	-18,734	–	-0.90%	–
IDXX	Exit	Idexx Laboratories	$0	–	-12,997	–	-0.94%	–
BMRN	Exit	BioMarin Pharmaceutical	$0	–	-68,390	–	-0.96%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-11,586	–	-0.98%	–
COO	Exit	Cooper Companies	$0	–	-15,900	–	-0.98%	–
SHW	Exit	Sherwin-Williams	$0	–	-7,886	–	-1.01%	–
GMAB	Exit	Genmab ADR	$0	–	-151,464	–	-1.02%	–
NKE	Exit	Nike	$0	–	-47,374	–	-1.09%	–
ROP	Exit	Roper Technologies	$0	–	-15,218	–	-1.10%	–
FISV	Exit	Fiserv	$0	–	-59,164	–	-1.12%	–
VRSK	Exit	Verisk Analytics	$0	–	-33,336	–	-1.14%	–
AMT	Exit	American Tower	$0	–	-26,461	–	-1.18%	–
V	Exit	Visa	$0	–	-33,782	–	-1.24%	–
CPRT	Exit	Copart	$0	–	-67,424	–	-1.30%	–
LZAGY	Exit	Lonza Group ADR	$0	–	-121,234	–	-1.38%	–
DHR	Exit	Danaher	$0	–	-36,315	–	-1.44%	–
GOOGL	Exit	Alphabet Class A	$0	–	-5,504	–	-1.48%	–
ADBE	Exit	Adobe Systems	$0	–	-17,244	–	-1.55%	–
MSFT	Exit	Microsoft	$0	–	-43,505	–	-1.68%	–
BDX	Exit	Becton Dickinson	$0	–	-40,677	–	-1.74%	–
SEIC	Exit	SEI Investments	$0	–	-193,720	–	-1.80%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-164,577	–	-1.82%	–
CB	Exit	Chubb Limited	$0	–	-93,570	–	-2.00%	–
HON	Exit	Honeywell	$0	–	-67,177	–	-2.03%	–
AAPL	Exit	Apple	$0	–	-95,466	–	-2.03%	–
GD	Exit	General Dynamics Corp	$0	–	-80,593	–	-2.05%	–
DIS	Exit	Walt Disney	$0	–	-91,997	–	-2.10%	–
SYY	Exit	Sysco	$0	–	-190,935	–	-2.18%	–
RDSA	Exit	Royal Dutch Shell Class A	$0	–	-500,170	–	-2.31%	–
AMZN	Exit	Amazon.com	$0	–	-4,022	–	-2.33%	–
L	Exit	Loews	$0	–	-366,660	–	-2.34%	–
INTC	Exit	Intel	$0	–	-254,410	–	-2.42%	–
JPM	Exit	JPMorgan Chase	$0	–	-140,440	–	-2.48%	–
UNH	Exit	UnitedHealth Group	$0	–	-43,408	–	-2.49%	–
KHC	Exit	Kraft Heinz	$0	–	-456,130	–	-2.51%	–
ORCL	Exit	Oracle	$0	–	-238,400	–	-2.61%	–
BAC	Exit	Bank of America	$0	–	-593,070	–	-2.62%	–
IBM	Exit	IBM Corp	$0	–	-118,321	–	-2.64%	–
DD	Exit	DuPont de Nemours	$0	–	-272,138	–	-2.77%	–
JNJ	Exit	Johnson & Johnson	$0	–	-110,364	–	-3.02%	–
BRKB	Exit	Berkshire Hathaway B	$0	–	-77,366	–	-3.03%	–
AXP	Exit	American Express	$0	–	-165,115	–	-3.04%	–
ETN	Exit	Eaton	$0	–	-167,270	–	-3.14%	–
MMC	Exit	Marsh & McLennan	$0	–	-157,633	–	-3.32%	–

Q3 2020

			Value		Shares		↓ Weighting
MMC	Sell	Marsh & McLennan	$18,081,000	+4.5%	157,633	-2.2%	3.32%	+1.9%
ETN	Sell	Eaton	$17,067,000	+14.1%	167,270	-2.2%	3.14%	+11.3%
AXP	Sell	American Express	$16,553,000	+3.7%	165,115	-1.5%	3.04%	+1.2%
BRKB	Sell	Berkshire Hathaway B	$16,474,000	+16.7%	77,366	-2.2%	3.03%	+13.8%
JNJ	Sell	Johnson & Johnson	$16,431,000	+3.8%	110,364	-2.0%	3.02%	+1.2%
DD	Sell	DuPont de Nemours	$15,098,000	+2.4%	272,138	-1.9%	2.77%	-0.1%
IBM	Sell	IBM Corp	$14,396,000	-0.9%	118,321	-1.6%	2.64%	-3.4%
BAC	Sell	Bank of America	$14,287,000	-0.3%	593,070	-1.7%	2.62%	-2.8%
ORCL	New	Oracle	$14,232,000	–	238,400	–	2.61%	–
KHC	Sell	Kraft Heinz	$13,661,000	-7.7%	456,130	-1.7%	2.51%	-10.0%
UNH	Sell	UnitedHealth Group	$13,533,000	+2.5%	43,408	-3.0%	2.49%	-0.0%
JPM	Sell	JPMorgan Chase	$13,520,000	+1.0%	140,440	-1.4%	2.48%	-1.5%
INTC	Sell	Intel	$13,173,000	-15.2%	254,410	-2.0%	2.42%	-17.2%
L	Sell	Loews	$12,741,000	-0.3%	366,660	-1.7%	2.34%	-2.8%
AMZN	Sell	Amazon.com	$12,664,000	+10.8%	4,022	-2.9%	2.33%	+8.0%
RDSA	Buy	Royal Dutch Shell Class A	$12,589,000	+38.7%	500,170	+80.1%	2.31%	+35.2%
SYY	Sell	Sysco	$11,880,000	+11.6%	190,935	-1.9%	2.18%	+8.9%
DIS	Buy	Walt Disney	$11,415,000	+30.5%	91,997	+17.3%	2.10%	+27.2%
GD	Buy	General Dynamics Corp	$11,156,000	+13.3%	80,593	+22.4%	2.05%	+10.5%
AAPL	Buy	Apple	$11,056,000	+21.5%	95,466	+282.7%	2.03%	+18.5%
HON	Sell	Honeywell	$11,058,000	+12.2%	67,177	-1.4%	2.03%	+9.4%
CB	Sell	Chubb Limited	$10,865,000	-10.1%	93,570	-1.9%	2.00%	-12.3%
BMY	Sell	Bristol Myers Squibb	$9,922,000	+0.7%	164,577	-1.8%	1.82%	-1.8%
SEIC	New	SEI Investments	$9,825,000	–	193,720	–	1.80%	–
BDX	Sell	Becton Dickinson	$9,465,000	-4.3%	40,677	-1.6%	1.74%	-6.8%
MSFT	Sell	Microsoft	$9,150,000	+2.0%	43,505	-1.3%	1.68%	-0.5%
ADBE	Sell	Adobe Systems	$8,457,000	+12.4%	17,244	-0.3%	1.55%	+9.5%
GOOGL	Buy	Alphabet Class A	$8,067,000	+3.9%	5,504	+0.5%	1.48%	+1.4%
DHR	Sell	Danaher	$7,820,000	+19.5%	36,315	-1.9%	1.44%	+16.6%
LZAGY	Sell	Lonza Group ADR	$7,489,000	+9.5%	121,234	-6.1%	1.38%	+6.8%
CPRT	Buy	Copart	$7,090,000	+52.2%	67,424	+20.5%	1.30%	+48.5%
V	Buy	Visa	$6,755,000	+4.7%	33,782	+1.2%	1.24%	+2.1%
AMT	Buy	American Tower	$6,396,000	-5.8%	26,461	+0.8%	1.18%	-8.1%
VRSK	Buy	Verisk Analytics	$6,177,000	+9.2%	33,336	+0.3%	1.14%	+6.6%
FISV	Buy	Fiserv	$6,097,000	+6.9%	59,164	+1.2%	1.12%	+4.3%
ROP	Sell	Roper Technologies	$6,013,000	+1.6%	15,218	-0.2%	1.10%	-1.0%
NKE	Buy	Nike	$5,947,000	+28.4%	47,374	+0.3%	1.09%	+25.2%
GMAB	Sell	Genmab ADR	$5,545,000	+4.4%	151,464	-3.3%	1.02%	+1.8%
SHW	Sell	Sherwin-Williams	$5,494,000	+18.2%	7,886	-1.9%	1.01%	+15.3%
COO	Buy	Cooper Companies	$5,360,000	+19.2%	15,900	+0.3%	0.98%	+16.2%
ORLY	Sell	O'Reilly Automotive	$5,342,000	+8.9%	11,586	-0.4%	0.98%	+6.2%
BMRN	Buy	BioMarin Pharmaceutical	$5,203,000	-22.0%	68,390	+26.5%	0.96%	-23.9%
IDXX	Sell	Idexx Laboratories	$5,109,000	+19.0%	12,997	-0.1%	0.94%	+15.9%
FB	Buy	Facebook Inc-A	$4,906,000	+16.0%	18,734	+0.6%	0.90%	+13.2%
CNC	Buy	Centene	$4,744,000	-7.5%	81,332	+0.7%	0.87%	-9.8%
ACN	Sell	Accenture	$4,412,000	+4.8%	19,523	-0.4%	0.81%	+2.1%
APH	Buy	Amphenol	$4,382,000	+13.9%	40,474	+0.8%	0.80%	+11.2%
MSI	Buy	Motorola Solutions	$4,148,000	+13.3%	26,451	+1.2%	0.76%	+10.4%
AZPN	Buy	Aspen Technology	$2,372,000	+44.0%	18,737	+17.9%	0.44%	+40.6%
HD	Sell	Home Depot	$2,312,000	+7.9%	8,324	-2.7%	0.42%	+5.5%
TDOC	Sell	Teladoc	$2,079,000	+14.0%	9,481	-0.7%	0.38%	+11.4%
QCOM	Sell	Qualcomm	$2,019,000	-1.1%	17,156	-23.4%	0.37%	-3.6%
MCD	Buy	McDonalds	$2,012,000	+19.7%	9,167	+0.6%	0.37%	+16.7%
CTLT	Sell	Catalent	$1,996,000	+16.1%	23,297	-0.6%	0.37%	+13.3%
QLYS	Buy	Qualys	$1,875,000	-5.0%	19,135	+0.8%	0.34%	-7.5%
POOL	Sell	Pool	$1,865,000	+5.8%	5,575	-14.0%	0.34%	+3.3%
LYB	Buy	LyondellBasell Industries	$1,857,000	+9.7%	26,341	+2.3%	0.34%	+6.9%
SBAC	Buy	SBA Communications	$1,851,000	+7.2%	5,811	+0.2%	0.34%	+4.6%
CMI	Sell	Cummins	$1,803,000	-3.6%	8,537	-20.9%	0.33%	-6.0%
ABBV	Buy	Abbvie	$1,804,000	-10.3%	20,597	+0.5%	0.33%	-12.7%
AMGN	Buy	Amgen	$1,788,000	+8.6%	7,034	+0.7%	0.33%	+5.8%
BX	Buy	Blackstone Group	$1,775,000	-3.0%	33,998	+5.3%	0.33%	-5.2%
CMCSA	New	Comcast Class A	$1,752,000	–	37,880	–	0.32%	–
MMM	Buy	3M Company	$1,747,000	+5.0%	10,908	+2.3%	0.32%	+2.6%
PRU	Buy	Prudential Financial	$1,744,000	+4.8%	27,463	+0.5%	0.32%	+2.2%
CCI	Buy	Crown Castle International	$1,711,000	+1.8%	10,278	+2.4%	0.31%	-0.6%
COR	Buy	CoreSite Realty	$1,706,000	+3.1%	14,349	+4.9%	0.31%	+0.3%
ANSS	Sell	Ansys	$1,704,000	+12.0%	5,208	-0.2%	0.31%	+9.1%
GILD	Buy	Gilead Sciences	$1,670,000	+25.3%	26,422	+52.6%	0.31%	+22.3%
ENB	Buy	Enbridge	$1,649,000	+15.1%	56,484	+19.9%	0.30%	+12.2%
DNKN	Sell	Dunkin' Brands	$1,607,000	+25.2%	19,622	-0.3%	0.30%	+21.9%
CVS	Buy	CVS Health	$1,590,000	-1.1%	27,234	+10.1%	0.29%	-3.6%
MO	Buy	Altria Group	$1,585,000	-0.1%	41,024	+1.5%	0.29%	-2.7%
MTD	Sell	Mettler Toledo	$1,568,000	+19.5%	1,624	-0.3%	0.29%	+16.6%
LMT	Buy	Lockheed Martin	$1,532,000	+8.9%	3,997	+3.7%	0.28%	+6.0%
CYBR	Sell	CyberArk Software	$1,526,000	-6.3%	14,755	-10.0%	0.28%	-8.8%
MPWR	Sell	Monolithic Power System	$1,449,000	-7.2%	5,181	-21.4%	0.27%	-9.5%
ZBRA	Buy	Zebra Technologies	$1,409,000	+0.2%	5,581	+1.6%	0.26%	-2.3%
OMCL	Buy	Omnicell	$1,286,000	+39.6%	17,219	+32.0%	0.24%	+36.4%
PRAA	Sell	PRA Group	$1,274,000	-7.5%	31,883	-10.5%	0.23%	-9.7%
MRK	Buy	Merck	$1,261,000	+7.6%	15,199	+0.3%	0.23%	+5.0%
JKHY	Buy	Jack Henry & Associates	$1,259,000	-11.6%	7,741	+0.1%	0.23%	-13.8%
HALO	Sell	Halozyme Therapeutics	$1,229,000	-2.6%	46,750	-0.7%	0.23%	-5.0%
PSX	Sell	Phillips 66	$1,222,000	-32.1%	23,578	-5.7%	0.22%	-33.9%
CHD	Sell	Church & Dwight	$1,217,000	+21.1%	12,989	-0.0%	0.22%	+18.5%
CSCO	Sell	Cisco Systems	$1,198,000	-93.2%	30,408	-91.9%	0.22%	-93.3%
RCKT	Buy	Rocket Pharmaceuticals	$1,115,000	+9.6%	48,795	+0.4%	0.20%	+6.8%
MKSI	Buy	MKS Instruments	$1,079,000	-3.2%	9,881	+0.3%	0.20%	-5.7%
IPGP	Sell	IPG Photonics	$1,052,000	+5.7%	6,187	-0.2%	0.19%	+3.2%
VRRM	Buy	Verra Mobility	$1,024,000	+22.6%	105,955	+30.4%	0.19%	+19.7%
AMN	Buy	AMN Healthcare Services	$1,008,000	+29.2%	17,245	+0.0%	0.18%	+25.9%
ICFI	Buy	ICF International	$927,000	-4.7%	15,069	+0.4%	0.17%	-7.1%
HXL	Buy	Hexcel	$868,000	-24.8%	25,883	+1.4%	0.16%	-26.7%
MYOV	Buy	Myovant Sciences	$861,000	-19.8%	61,262	+17.7%	0.16%	-21.8%
MA	Sell	Mastercard	$223,000	+9.9%	659	-4.1%	0.04%	+7.9%
DOW	Exit	Dow Inc.	$0	–	-138,127	–	-1.06%	–
AIG	Exit	American Intl Group	$0	–	-318,312	–	-1.87%	–
BP	Exit	BP PLC	$0	–	-429,779	–	-1.89%	–

Q2 2020

			Value		Shares		↓ Weighting
CSCO	New	Cisco Systems	$17,521,000	–	375,656	–	3.30%	–
MMC	New	Marsh & McLennan	$17,302,000	–	161,143	–	3.26%	–
AXP	New	American Express	$15,958,000	–	167,622	–	3.00%	–
JNJ	New	Johnson & Johnson	$15,837,000	–	112,614	–	2.98%	–
INTC	New	Intel	$15,528,000	–	259,543	–	2.92%	–
ETN	New	Eaton	$14,958,000	–	170,993	–	2.82%	–
KHC	New	Kraft Heinz	$14,802,000	–	464,154	–	2.79%	–
DD	New	DuPont de Nemours	$14,739,000	–	277,409	–	2.78%	–
IBM	New	IBM Corp	$14,528,000	–	120,295	–	2.74%	–
BAC	New	Bank of America	$14,331,000	–	603,412	–	2.70%	–
BRKB	New	Berkshire Hathaway B	$14,115,000	–	79,074	–	2.66%	–
JPM	New	JPMorgan Chase	$13,391,000	–	142,362	–	2.52%	–
UNH	New	UnitedHealth Group	$13,203,000	–	44,763	–	2.49%	–
L	New	Loews	$12,785,000	–	372,855	–	2.41%	–
CB	New	Chubb Limited	$12,079,000	–	95,393	–	2.28%	–
AMZN	New	Amazon.com	$11,433,000	–	4,144	–	2.15%	–
SYY	New	Sysco	$10,641,000	–	194,681	–	2.00%	–
BP	New	BP PLC	$10,022,000	–	429,779	–	1.89%	–
AIG	New	American Intl Group	$9,925,000	–	318,312	–	1.87%	–
BDX	New	Becton Dickinson	$9,895,000	–	41,355	–	1.86%	–
BMY	New	Bristol Myers Squibb	$9,855,000	–	167,594	–	1.86%	–
HON	New	Honeywell	$9,855,000	–	68,160	–	1.86%	–
GD	New	General Dynamics Corp	$9,844,000	–	65,861	–	1.85%	–
AAPL	New	Apple	$9,100,000	–	24,946	–	1.71%	–
RDSA	New	Royal Dutch Shell Class A	$9,079,000	–	277,739	–	1.71%	–
MSFT	New	Microsoft	$8,973,000	–	44,092	–	1.69%	–
DIS	New	Walt Disney	$8,749,000	–	78,455	–	1.65%	–
GOOGL	New	Alphabet Class A	$7,765,000	–	5,476	–	1.46%	–
ADBE	New	Adobe Systems	$7,527,000	–	17,290	–	1.42%	–
LZAGY	New	Lonza Group ADR	$6,839,000	–	129,067	–	1.29%	–
AMT	New	American Tower	$6,787,000	–	26,251	–	1.28%	–
BMRN	New	BioMarin Pharmaceutical	$6,669,000	–	54,070	–	1.26%	–
DHR	New	Danaher	$6,544,000	–	37,007	–	1.23%	–
V	New	Visa	$6,451,000	–	33,395	–	1.22%	–
ROP	New	Roper Technologies	$5,918,000	–	15,242	–	1.12%	–
FISV	New	Fiserv	$5,705,000	–	58,437	–	1.07%	–
VRSK	New	Verisk Analytics	$5,657,000	–	33,235	–	1.06%	–
DOW	New	Dow Inc.	$5,630,000	–	138,127	–	1.06%	–
GMAB	New	Genmab ADR	$5,309,000	–	156,640	–	1.00%	–
CNC	New	Centene	$5,131,000	–	80,736	–	0.97%	–
ORLY	New	O'Reilly Automotive	$4,907,000	–	11,636	–	0.92%	–
CPRT	New	Copart	$4,659,000	–	55,956	–	0.88%	–
SHW	New	Sherwin-Williams	$4,647,000	–	8,042	–	0.88%	–
NKE	New	Nike	$4,630,000	–	47,222	–	0.87%	–
COO	New	Cooper Companies	$4,497,000	–	15,855	–	0.85%	–
IDXX	New	Idexx Laboratories	$4,295,000	–	13,010	–	0.81%	–
FB	New	Facebook Inc-A	$4,229,000	–	18,626	–	0.80%	–
ACN	New	Accenture	$4,210,000	–	19,606	–	0.79%	–
APH	New	Amphenol	$3,847,000	–	40,148	–	0.72%	–
MSI	New	Motorola Solutions	$3,662,000	–	26,132	–	0.69%	–
HD	New	Home Depot	$2,142,000	–	8,551	–	0.40%	–
QCOM	New	Qualcomm	$2,042,000	–	22,385	–	0.38%	–
ABBV	New	Abbvie	$2,012,000	–	20,489	–	0.38%	–
QLYS	New	Qualys	$1,974,000	–	18,975	–	0.37%	–
CMI	New	Cummins	$1,870,000	–	10,795	–	0.35%	–
BX	New	Blackstone Group	$1,829,000	–	32,274	–	0.34%	–
TDOC	New	Teladoc	$1,823,000	–	9,552	–	0.34%	–
PSX	New	Phillips 66	$1,799,000	–	25,015	–	0.34%	–
POOL	New	Pool	$1,762,000	–	6,482	–	0.33%	–
SBAC	New	SBA Communications	$1,727,000	–	5,798	–	0.32%	–
CTLT	New	Catalent	$1,719,000	–	23,447	–	0.32%	–
LYB	New	LyondellBasell Industries	$1,693,000	–	25,757	–	0.32%	–
MCD	New	McDonalds	$1,681,000	–	9,111	–	0.32%	–
CCI	New	Crown Castle International	$1,680,000	–	10,041	–	0.32%	–
MMM	New	3M Company	$1,664,000	–	10,667	–	0.31%	–
PRU	New	Prudential Financial	$1,664,000	–	27,323	–	0.31%	–
COR	New	CoreSite Realty	$1,655,000	–	13,674	–	0.31%	–
AMGN	New	Amgen	$1,647,000	–	6,985	–	0.31%	–
AZPN	New	Aspen Technology	$1,647,000	–	15,893	–	0.31%	–
CYBR	New	CyberArk Software	$1,628,000	–	16,396	–	0.31%	–
CVS	New	CVS Health	$1,607,000	–	24,727	–	0.30%	–
MO	New	Altria Group	$1,586,000	–	40,411	–	0.30%	–
MPWR	New	Monolithic Power System	$1,562,000	–	6,589	–	0.29%	–
ANSS	New	Ansys	$1,522,000	–	5,218	–	0.29%	–
ENB	New	Enbridge	$1,433,000	–	47,113	–	0.27%	–
JKHY	New	Jack Henry & Associates	$1,424,000	–	7,736	–	0.27%	–
LMT	New	Lockheed Martin	$1,407,000	–	3,856	–	0.26%	–
ZBRA	New	Zebra Technologies	$1,406,000	–	5,492	–	0.26%	–
PRAA	New	PRA Group	$1,377,000	–	35,623	–	0.26%	–
GILD	New	Gilead Sciences	$1,333,000	–	17,319	–	0.25%	–
MTD	New	Mettler Toledo	$1,312,000	–	1,629	–	0.25%	–
DNKN	New	Dunkin' Brands	$1,284,000	–	19,687	–	0.24%	–
HALO	New	Halozyme Therapeutics	$1,262,000	–	47,074	–	0.24%	–
MRK	New	Merck	$1,172,000	–	15,154	–	0.22%	–
HXL	New	Hexcel	$1,154,000	–	25,514	–	0.22%	–
MKSI	New	MKS Instruments	$1,115,000	–	9,847	–	0.21%	–
MYOV	New	Myovant Sciences	$1,073,000	–	52,044	–	0.20%	–
RCKT	New	Rocket Pharmaceuticals	$1,017,000	–	48,577	–	0.19%	–
CHD	New	Church & Dwight	$1,005,000	–	12,995	–	0.19%	–
IPGP	New	IPG Photonics	$995,000	–	6,202	–	0.19%	–
ICFI	New	ICF International	$973,000	–	15,010	–	0.18%	–
OMCL	New	Omnicell	$921,000	–	13,042	–	0.17%	–
VRRM	New	Verra Mobility	$835,000	–	81,262	–	0.16%	–
AMN	New	AMN Healthcare Services	$780,000	–	17,239	–	0.15%	–
GOOG	New	Alphabet Class C	$519,000	–	367	–	0.10%	–
IWF	New	iShares Russell 1000 Growth	$472,000	–	2,461	–	0.09%	–
ECL	New	Ecolab	$323,000	–	1,623	–	0.06%	–
SBUX	New	Starbucks	$294,000	–	4,000	–	0.06%	–
MA	New	Mastercard	$203,000	–	687	–	0.04%	–

Q4 2019

			Value		Shares		↓ Weighting
MA	Exit	Mastercard	$0	–	-788	–	-0.02%	–
VONG	Exit	Vanguard Russell 1000 Growth	$0	–	-1,384	–	-0.02%	–
HON	Exit	Honeywell	$0	–	-1,430	–	-0.03%	–
ECL	Exit	Ecolab	$0	–	-1,704	–	-0.04%	–
SBUX	Exit	Starbucks	$0	–	-4,000	–	-0.04%	–
IDXX	Exit	Idexx Laboratories	$0	–	-1,350	–	-0.04%	–
IWF	Exit	iShares Russell 1000 Growth	$0	–	-2,544	–	-0.04%	–
GOOG	Exit	Alphabet Class C	$0	–	-405	–	-0.05%	–
ENB	Exit	Enbridge	$0	–	-15,507	–	-0.06%	–
MKSI	Exit	MKS Instruments	$0	–	-6,974	–	-0.07%	–
VRRM	Exit	Verra Mobility	$0	–	-49,137	–	-0.08%	–
HALO	Exit	Halozyme Therapeutics	$0	–	-46,353	–	-0.08%	–
IPGP	Exit	IPG Photonics	$0	–	-5,400	–	-0.08%	–
PRAA	Exit	PRA Group	$0	–	-22,895	–	-0.08%	–
CHD	Exit	Church & Dwight	$0	–	-10,788	–	-0.09%	–
OMCL	Exit	Omnicell	$0	–	-11,368	–	-0.09%	–
ESGR	Exit	Enstar Group	$0	–	-4,351	–	-0.09%	–
AMN	Exit	AMN Healthcare Services	$0	–	-15,134	–	-0.10%	–
TDOC	Exit	Teladoc	$0	–	-13,729	–	-0.10%	–
CTLT	Exit	Catalent	$0	–	-19,600	–	-0.10%	–
MTD	Exit	Mettler Toledo	$0	–	-1,365	–	-0.10%	–
CYBR	Exit	CyberArk Software	$0	–	-10,187	–	-0.11%	–
MPWR	Exit	Monolithic Power System	$0	–	-6,645	–	-0.11%	–
ICFI	Exit	ICF International	$0	–	-12,908	–	-0.12%	–
WBS	Exit	Webster Financial Corp	$0	–	-23,688	–	-0.12%	–
DNKN	Exit	Dunkin' Brands	$0	–	-13,959	–	-0.12%	–
ANSS	Exit	Ansys	$0	–	-5,184	–	-0.12%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-8,099	–	-0.13%	–
SBAC	Exit	SBA Communications	$0	–	-5,209	–	-0.14%	–
POOL	Exit	Pool	$0	–	-6,398	–	-0.14%	–
QLYS	Exit	Qualys	$0	–	-19,091	–	-0.16%	–
PRU	Exit	Prudential Financial	$0	–	-18,372	–	-0.18%	–
MO	Exit	Altria Group	$0	–	-41,398	–	-0.18%	–
EPD	Exit	Enterprise Products Prtnrs	$0	–	-61,234	–	-0.19%	–
MRK	Exit	Merck	$0	–	-21,554	–	-0.20%	–
BA	Exit	Boeing	$0	–	-4,929	–	-0.20%	–
AZPN	Exit	Aspen Technology	$0	–	-15,663	–	-0.21%	–
IPG	Exit	Interpublic Group	$0	–	-90,182	–	-0.21%	–
CPRT	Exit	Copart	$0	–	-24,439	–	-0.21%	–
LVS	Exit	Las Vegas Sands	$0	–	-35,588	–	-0.22%	–
HXL	Exit	Hexcel	$0	–	-25,200	–	-0.22%	–
QCOM	Exit	Qualcomm	$0	–	-28,047	–	-0.23%	–
PSX	Exit	Phillips 66	$0	–	-21,482	–	-0.24%	–
CMI	Exit	Cummins	$0	–	-13,898	–	-0.25%	–
ABBV	Exit	Abbvie	$0	–	-29,812	–	-0.25%	–
LMT	Exit	Lockheed Martin	$0	–	-5,818	–	-0.25%	–
AMGN	Exit	Amgen	$0	–	-12,045	–	-0.25%	–
LYB	Exit	LyondellBasell Industries	$0	–	-26,535	–	-0.26%	–
CTVA	Exit	Corteva Inc.	$0	–	-101,982	–	-0.31%	–
BX	Exit	Blackstone Group	$0	–	-62,228	–	-0.33%	–
DOW	Exit	Dow Inc.	$0	–	-138,846	–	-0.72%	–
GE	Exit	General Electric	$0	–	-770,759	–	-0.75%	–
DD	Exit	DuPont de Nemours	$0	–	-102,448	–	-0.80%	–
EOG	Exit	EOG Resources	$0	–	-104,347	–	-0.84%	–
UNH	Exit	UnitedHealth Group	$0	–	-36,753	–	-0.87%	–
VIAB	Exit	Viacom Inc Cl B	$0	–	-382,580	–	-1.00%	–
SWK	Exit	Stanley Black & Decker	$0	–	-65,903	–	-1.04%	–
BDX	Exit	Becton Dickinson	$0	–	-41,600	–	-1.15%	–
WU	Exit	Western Union	$0	–	-489,926	–	-1.24%	–
GD	Exit	General Dynamics Corp	$0	–	-66,136	–	-1.32%	–
JPM	Exit	JPMorgan Chase	$0	–	-103,315	–	-1.32%	–
WFC	Exit	Wells Fargo	$0	–	-255,030	–	-1.40%	–
TGNA	Exit	Tegna Inc.	$0	–	-869,295	–	-1.47%	–
INTC	Exit	Intel	$0	–	-263,297	–	-1.48%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-201,955	–	-1.48%	–
RDSA	Exit	Royal Dutch Shell Class A	$0	–	-232,109	–	-1.49%	–
CHKP	Exit	Check Point Software	$0	–	-125,922	–	-1.50%	–
CNC	Exit	Centene	$0	–	-320,173	–	-1.51%	–
GMAB	Exit	Genmab ADR	$0	–	-699,340	–	-1.54%	–
ETN	Exit	Eaton	$0	–	-171,732	–	-1.56%	–
FB	Exit	Facebook Inc-A	$0	–	-80,616	–	-1.56%	–
JNJ	Exit	Johnson & Johnson	$0	–	-112,383	–	-1.58%	–
BRKB	Exit	Berkshire Hathaway B	$0	–	-70,632	–	-1.60%	–
GM	Exit	General Motors	$0	–	-404,892	–	-1.65%	–
CB	Exit	Chubb Limited	$0	–	-95,775	–	-1.68%	–
APH	Exit	Amphenol	$0	–	-162,737	–	-1.71%	–
MMC	Exit	Marsh & McLennan	$0	–	-162,355	–	-1.77%	–
COO	Exit	Cooper Companies	$0	–	-54,762	–	-1.77%	–
BP	Exit	BP PLC	$0	–	-429,034	–	-1.78%	–
ACN	Exit	Accenture	$0	–	-86,801	–	-1.82%	–
SCHW	Exit	Charles Schwab	$0	–	-415,971	–	-1.89%	–
AIG	Exit	American Intl Group	$0	–	-319,573	–	-1.94%	–
IBM	Exit	IBM Corp	$0	–	-122,494	–	-1.94%	–
NKE	Exit	Nike	$0	–	-195,511	–	-2.00%	–
CSCO	Exit	Cisco Systems	$0	–	-386,864	–	-2.08%	–
L	Exit	Loews	$0	–	-374,429	–	-2.10%	–
SHW	Exit	Sherwin-Williams	$0	–	-35,893	–	-2.15%	–
ADBE	Exit	Adobe Systems	$0	–	-71,464	–	-2.15%	–
AMZN	Exit	Amazon.com	$0	–	-11,922	–	-2.25%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-52,816	–	-2.29%	–
ROP	Exit	Roper Technologies	$0	–	-60,576	–	-2.35%	–
LZAGY	Exit	Lonza Group ADR	$0	–	-640,506	–	-2.36%	–
BAC	Exit	Bank of America	$0	–	-750,961	–	-2.38%	–
VRSK	Exit	Verisk Analytics	$0	–	-139,696	–	-2.40%	–
DHR	Exit	Danaher	$0	–	-161,579	–	-2.54%	–
FISV	Exit	Fiserv	$0	–	-225,477	–	-2.54%	–
V	Exit	Visa	$0	–	-136,360	–	-2.55%	–
GOOGL	Exit	Alphabet Class A	$0	–	-19,277	–	-2.56%	–
AXP	Exit	American Express	$0	–	-205,196	–	-2.64%	–
AAPL	Exit	Apple	$0	–	-111,129	–	-2.71%	–
MSFT	Exit	Microsoft	$0	–	-186,668	–	-2.83%	–
AMT	Exit	American Tower	$0	–	-118,723	–	-2.86%	–

Q3 2019

			Value		Shares		↓ Weighting
AMT	Sell	American Tower	$26,253,000	+7.3%	118,723	-0.8%	2.86%	+12.5%
MSFT	Sell	Microsoft	$25,952,000	+3.0%	186,668	-0.7%	2.83%	+8.0%
AAPL	Sell	Apple	$24,890,000	+9.5%	111,129	-3.3%	2.71%	+14.7%
AXP	Sell	American Express	$24,271,000	-4.7%	205,196	-0.5%	2.64%	-0.0%
GOOGL	Buy	Alphabet Class A	$23,540,000	+12.8%	19,277	+0.0%	2.56%	+18.2%
V	Sell	Visa	$23,455,000	-6.2%	136,360	-5.3%	2.55%	-1.6%
FISV	Sell	Fiserv	$23,357,000	+7.0%	225,477	-5.8%	2.54%	+12.2%
DHR	Sell	Danaher	$23,337,000	+0.6%	161,579	-0.5%	2.54%	+5.4%
VRSK	Sell	Verisk Analytics	$22,092,000	-11.9%	139,696	-18.4%	2.40%	-7.7%
BAC	Sell	Bank of America	$21,906,000	+0.5%	750,961	-0.1%	2.38%	+5.3%
LZAGY	Buy	Lonza Group ADR	$21,646,000	+1.1%	640,506	+0.8%	2.36%	+6.0%
ROP	Sell	Roper Technologies	$21,601,000	-3.1%	60,576	-0.5%	2.35%	+1.6%
ORLY	Buy	O'Reilly Automotive	$21,048,000	+24.0%	52,816	+14.9%	2.29%	+29.9%
AMZN	Buy	Amazon.com	$20,696,000	-7.6%	11,922	+0.8%	2.25%	-3.2%
ADBE	Sell	Adobe Systems	$19,742,000	-6.8%	71,464	-0.6%	2.15%	-2.4%
SHW	Sell	Sherwin-Williams	$19,736,000	+18.9%	35,893	-0.9%	2.15%	+24.6%
L	Sell	Loews	$19,276,000	-5.9%	374,429	-0.0%	2.10%	-1.3%
CSCO	Sell	Cisco Systems	$19,115,000	-10.2%	386,864	-0.5%	2.08%	-5.9%
NKE	Buy	Nike	$18,362,000	+40.3%	195,511	+25.4%	2.00%	+47.1%
IBM	Sell	IBM Corp	$17,813,000	+5.4%	122,494	-0.0%	1.94%	+10.5%
AIG	Sell	American Intl Group	$17,800,000	+4.5%	319,573	-0.0%	1.94%	+9.6%
SCHW	Sell	Charles Schwab	$17,400,000	+2.5%	415,971	-1.5%	1.89%	+7.4%
ACN	Sell	Accenture	$16,696,000	+0.2%	86,801	-3.7%	1.82%	+5.1%
BP	Sell	BP PLC	$16,299,000	-9.0%	429,034	-0.1%	1.78%	-4.6%
COO	Sell	Cooper Companies	$16,264,000	-12.5%	54,762	-0.8%	1.77%	-8.3%
MMC	Sell	Marsh & McLennan	$16,244,000	+0.2%	162,355	-0.1%	1.77%	+5.0%
APH	Sell	Amphenol	$15,704,000	-2.0%	162,737	-2.5%	1.71%	+2.8%
CB	Sell	Chubb Limited	$15,462,000	+9.5%	95,775	-0.1%	1.68%	+14.7%
GM	Sell	General Motors	$15,175,000	-2.7%	404,892	-0.0%	1.65%	+1.9%
BRKB	Buy	Berkshire Hathaway B	$14,693,000	-2.4%	70,632	+0.0%	1.60%	+2.3%
JNJ	Sell	Johnson & Johnson	$14,540,000	-7.2%	112,383	-0.1%	1.58%	-2.8%
FB	Sell	Facebook Inc-A	$14,356,000	-7.8%	80,616	-0.1%	1.56%	-3.3%
ETN	Sell	Eaton	$14,280,000	-0.3%	171,732	-0.1%	1.56%	+4.6%
GMAB	Buy	Genmab ADR	$14,169,000	+12.3%	699,340	+2.4%	1.54%	+17.7%
CNC	Buy	Centene	$13,851,000	-17.2%	320,173	+0.4%	1.51%	-13.2%
CHKP	Buy	Check Point Software	$13,788,000	-3.5%	125,922	+1.9%	1.50%	+1.1%
RDSA	Sell	Royal Dutch Shell Class A	$13,660,000	-9.6%	232,109	-0.0%	1.49%	-5.3%
BMRN	Buy	BioMarin Pharmaceuticals	$13,612,000	-20.9%	201,955	+0.5%	1.48%	-17.1%
INTC	Sell	Intel	$13,568,000	+7.5%	263,297	-0.1%	1.48%	+12.7%
WFC	Buy	Wells Fargo	$12,864,000	+6.7%	255,030	+0.1%	1.40%	+11.9%
JPM	Sell	JPMorgan Chase	$12,159,000	+5.1%	103,315	-0.1%	1.32%	+10.2%
GD	Buy	General Dynamics Corp	$12,085,000	+0.7%	66,136	+0.2%	1.32%	+5.6%
WU	Sell	Western Union	$11,352,000	+16.3%	489,926	-0.2%	1.24%	+21.9%
BDX	Sell	Becton Dickinson	$10,523,000	+0.2%	41,600	-0.2%	1.15%	+5.0%
SWK	Sell	Stanley Black & Decker	$9,517,000	-0.5%	65,903	-0.3%	1.04%	+4.3%
UNH	Buy	UnitedHealth Group	$7,987,000	-10.7%	36,753	+0.3%	0.87%	-6.4%
EOG	Buy	EOG Resources	$7,745,000	-20.1%	104,347	+0.3%	0.84%	-16.3%
DD	Buy	DuPont de Nemours	$7,306,000	-4.7%	102,448	+0.3%	0.80%	-0.3%
GE	Buy	General Electric	$6,891,000	-13.9%	770,759	+1.1%	0.75%	-9.7%
DOW	Buy	Dow Inc.	$6,616,000	-3.3%	138,846	+0.1%	0.72%	+1.3%
BX	Buy	Blackstone Group	$3,039,000	+35.2%	62,228	+23.0%	0.33%	+42.1%
CTVA	Sell	Corteva Inc.	$2,855,000	-5.5%	101,982	-0.2%	0.31%	-1.0%
LYB	Buy	LyondellBasell Industries	$2,374,000	+4.9%	26,535	+0.9%	0.26%	+9.8%
AMGN	Buy	Amgen	$2,331,000	+5.4%	12,045	+0.4%	0.25%	+10.4%
LMT	Buy	Lockheed Martin	$2,269,000	+7.7%	5,818	+0.4%	0.25%	+12.8%
CMI	Buy	Cummins	$2,261,000	-4.4%	13,898	+0.7%	0.25%	0.0%
ABBV	Buy	Abbvie	$2,257,000	+5.1%	29,812	+0.9%	0.25%	+10.3%
PSX	Buy	Phillips 66	$2,200,000	+10.3%	21,482	+0.8%	0.24%	+15.9%
QCOM	Buy	Qualcomm	$2,139,000	+1.2%	28,047	+0.9%	0.23%	+5.9%
HXL	Sell	Hexcel	$2,070,000	-7.5%	25,200	-9.0%	0.22%	-3.4%
LVS	Buy	Las Vegas Sands	$2,056,000	-1.5%	35,588	+0.8%	0.22%	+3.2%
CPRT	Sell	Copart	$1,963,000	+0.8%	24,439	-6.2%	0.21%	+5.9%
IPG	Buy	Interpublic Group	$1,944,000	-3.8%	90,182	+0.8%	0.21%	+1.0%
AZPN	Sell	Aspen Technology	$1,928,000	-8.4%	15,663	-7.5%	0.21%	-4.1%
BA	Buy	Boeing	$1,875,000	+5.6%	4,929	+1.0%	0.20%	+10.9%
MRK	Buy	Merck	$1,814,000	+1.3%	21,554	+0.9%	0.20%	+6.5%
EPD	Buy	Enterprise Products Prtnrs	$1,750,000	-0.8%	61,234	+0.2%	0.19%	+4.4%
MO	Buy	Altria Group	$1,693,000	-13.1%	41,398	+0.6%	0.18%	-8.9%
PRU	Buy	Prudential Financial	$1,653,000	-10.4%	18,372	+0.6%	0.18%	-6.2%
QLYS	Buy	Qualys	$1,443,000	-13.0%	19,091	+0.2%	0.16%	-8.7%
POOL	Buy	Pool	$1,290,000	+5.7%	6,398	+0.1%	0.14%	+10.2%
SBAC	Sell	SBA Communications	$1,256,000	+6.6%	5,209	-0.6%	0.14%	+12.3%
JKHY	Buy	Jack Henry & Associates	$1,182,000	+9.0%	8,099	+0.1%	0.13%	+14.2%
ANSS	Buy	Ansys	$1,148,000	+8.2%	5,184	+0.1%	0.12%	+13.6%
WBS	Sell	Webster Financial Corp	$1,110,000	-2.2%	23,688	-0.3%	0.12%	+2.5%
DNKN	Buy	Dunkin' Brands	$1,108,000	-0.4%	13,959	+0.0%	0.12%	+4.3%
ICFI	Buy	ICF International	$1,090,000	+16.1%	12,908	+0.1%	0.12%	+21.4%
CYBR	Buy	CyberArk Software	$1,017,000	+76.9%	10,187	+126.7%	0.11%	+85.0%
MTD	Buy	Mettler Toledo	$962,000	-15.8%	1,365	+0.3%	0.10%	-11.8%
CTLT	Sell	Catalent	$934,000	-19.6%	19,600	-8.5%	0.10%	-15.7%
TDOC	New	Teladoc	$930,000	–	13,729	–	0.10%	–
AMN	Buy	AMN Healthcare Services	$871,000	+6.2%	15,134	+0.1%	0.10%	+11.8%
ESGR	Buy	Enstar Group	$826,000	+9.1%	4,351	+0.2%	0.09%	+13.9%
OMCL	Buy	Omnicell	$822,000	-15.8%	11,368	+0.2%	0.09%	-11.9%
CHD	Buy	Church & Dwight	$812,000	+3.3%	10,788	+0.3%	0.09%	+7.3%
PRAA	Buy	PRA Group	$774,000	+20.6%	22,895	+0.3%	0.08%	+25.4%
IPGP	Buy	IPG Photonics	$732,000	-0.3%	5,400	+13.5%	0.08%	+5.3%
HALO	Buy	Halozyme Therapeutics	$719,000	-9.4%	46,353	+0.2%	0.08%	-4.9%
VRRM	New	Verra Mobility	$705,000	–	49,137	–	0.08%	–
MKSI	Buy	MKS Instruments	$644,000	+19.0%	6,974	+0.5%	0.07%	+25.0%
ENB	Buy	Enbridge	$544,000	-1.4%	15,507	+1.3%	0.06%	+3.5%
HON	Sell	Honeywell	$242,000	-19.6%	1,430	-17.1%	0.03%	-16.1%
VONG	Sell	Vanguard Russell 1000 Growth	$227,000	-15.9%	1,384	-17.0%	0.02%	-10.7%
MA	Sell	Mastercard	$214,000	+1.9%	788	-0.9%	0.02%	+4.5%
PYPL	Exit	PayPal	$0	–	-1,880	–	-0.02%	–
HCSG	Exit	Healthcare Services Group	$0	–	-26,447	–	-0.08%	–
DY	Exit	Dycom Industries	$0	–	-17,007	–	-0.10%	–
ALB	Exit	Albemarle	$0	–	-146,096	–	-1.07%	–
HPQ	Exit	HP INC	$0	–	-572,360	–	-1.24%	–
SSNC	Exit	SS&C Technologies	$0	–	-317,827	–	-1.90%	–

Q2 2019

			Value		Shares		↓ Weighting
AXP	New	American Express	$25,457,000	–	206,231	–	2.64%	–
MSFT	New	Microsoft	$25,184,000	–	187,993	–	2.62%	–
VRSK	New	Verisk Analytics	$25,073,000	–	171,194	–	2.60%	–
V	New	Visa	$24,993,000	–	144,011	–	2.60%	–
AMT	New	American Tower	$24,465,000	–	119,662	–	2.54%	–
DHR	New	Danaher	$23,202,000	–	162,341	–	2.41%	–
AAPL	New	Apple	$22,734,000	–	114,867	–	2.36%	–
AMZN	New	Amazon.com	$22,402,000	–	11,830	–	2.33%	–
ROP	New	Roper Technologies	$22,295,000	–	60,873	–	2.32%	–
FISV	New	Fiserv	$21,819,000	–	239,350	–	2.27%	–
BAC	New	Bank of America	$21,790,000	–	751,372	–	2.26%	–
LZAGY	New	Lonza Group ADR	$21,408,000	–	635,637	–	2.22%	–
CSCO	New	Cisco Systems	$21,283,000	–	388,876	–	2.21%	–
ADBE	New	Adobe Systems	$21,189,000	–	71,912	–	2.20%	–
GOOGL	New	Alphabet Class A	$20,871,000	–	19,275	–	2.17%	–
L	New	Loews	$20,480,000	–	374,606	–	2.13%	–
COO	New	Cooper Companies	$18,594,000	–	55,194	–	1.93%	–
SSNC	New	SS&C Technologies	$18,310,000	–	317,827	–	1.90%	–
BP	New	BP PLC	$17,905,000	–	429,366	–	1.86%	–
BMRN	New	BioMarin Pharmaceuticals	$17,216,000	–	201,001	–	1.79%	–
AIG	New	American Intl Group	$17,032,000	–	319,661	–	1.77%	–
ORLY	New	O'Reilly Automotive	$16,981,000	–	45,980	–	1.76%	–
SCHW	New	Charles Schwab	$16,969,000	–	422,228	–	1.76%	–
IBM	New	Intl Business Machines	$16,897,000	–	122,533	–	1.76%	–
CNC	New	Centene	$16,731,000	–	319,048	–	1.74%	–
ACN	New	Accenture	$16,657,000	–	90,151	–	1.73%	–
SHW	New	Sherwin-Williams	$16,603,000	–	36,228	–	1.72%	–
MMC	New	Marsh & McLennan	$16,217,000	–	162,581	–	1.68%	–
APH	New	Amphenol	$16,018,000	–	166,954	–	1.66%	–
JNJ	New	Johnson & Johnson	$15,672,000	–	112,518	–	1.63%	–
GM	New	General Motors	$15,602,000	–	404,928	–	1.62%	–
FB	New	Facebook Inc-A	$15,570,000	–	80,673	–	1.62%	–
RDSA	New	Royal Dutch Shell Class A	$15,109,000	–	232,195	–	1.57%	–
BRKB	New	Berkshire Hathaway B	$15,056,000	–	70,631	–	1.56%	–
ETN	New	Eaton	$14,318,000	–	171,931	–	1.49%	–
CHKP	New	Check Point Software	$14,283,000	–	123,547	–	1.48%	–
CB	New	Chubb Limited	$14,125,000	–	95,898	–	1.47%	–
TGNA	New	Tegna Inc.	$13,170,000	–	869,295	–	1.37%	–
NKE	New	Nike	$13,086,000	–	155,882	–	1.36%	–
GMAB	New	Genmab ADR	$12,616,000	–	682,924	–	1.31%	–
INTC	New	Intel	$12,621,000	–	263,647	–	1.31%	–
WFC	New	Wells Fargo	$12,057,000	–	254,805	–	1.25%	–
GD	New	Genl Dynamics Corp	$11,996,000	–	65,976	–	1.25%	–
HPQ	New	HP INC	$11,899,000	–	572,360	–	1.24%	–
JPM	New	JPMorgan Chase	$11,564,000	–	103,431	–	1.20%	–
VIAB	New	Viacom Cl B	$11,428,000	–	382,580	–	1.19%	–
BDX	New	Becton Dickinson	$10,507,000	–	41,692	–	1.09%	–
ALB	New	Albemarle	$10,287,000	–	146,096	–	1.07%	–
WU	New	Western Union	$9,763,000	–	490,861	–	1.01%	–
EOG	New	EOG Resources	$9,691,000	–	104,024	–	1.01%	–
SWK	New	Stanley Black & Decker Inc.	$9,563,000	–	66,130	–	0.99%	–
UNH	New	UnitedHealth Group	$8,941,000	–	36,643	–	0.93%	–
GE	New	General Electric	$8,002,000	–	762,101	–	0.83%	–
DD	New	Dupont (EI) deNemours	$7,669,000	–	102,152	–	0.80%	–
DOW	New	Dow Inc.	$6,843,000	–	138,770	–	0.71%	–
CTVA	New	Corteva, Inc.	$3,021,000	–	102,151	–	0.31%	–
CMI	New	Cummins	$2,364,000	–	13,799	–	0.25%	–
LYB	New	LyondellBasell Industries	$2,264,000	–	26,291	–	0.24%	–
HXL	New	Hexcel	$2,239,000	–	27,687	–	0.23%	–
BX	New	Blackstone Group	$2,247,000	–	50,581	–	0.23%	–
AMGN	New	Amgen	$2,212,000	–	12,002	–	0.23%	–
ABBV	New	AbbVie	$2,148,000	–	29,536	–	0.22%	–
QCOM	New	Qualcomm	$2,114,000	–	27,784	–	0.22%	–
LMT	New	Lockheed Martin	$2,106,000	–	5,792	–	0.22%	–
AZPN	New	Aspen Technology	$2,104,000	–	16,932	–	0.22%	–
LVS	New	Las Vegas Sands	$2,087,000	–	35,321	–	0.22%	–
IPG	New	Interpublic Group	$2,021,000	–	89,468	–	0.21%	–
PSX	New	Phillips 66	$1,994,000	–	21,321	–	0.21%	–
CPRT	New	Copart	$1,948,000	–	26,066	–	0.20%	–
MO	New	Altria Group	$1,949,000	–	41,170	–	0.20%	–
PRU	New	Prudential Financial	$1,845,000	–	18,269	–	0.19%	–
MRK	New	Merck	$1,791,000	–	21,359	–	0.19%	–
BA	New	Boeing	$1,776,000	–	4,880	–	0.18%	–
EPD	New	Enterprise Products Prtnrs	$1,764,000	–	61,114	–	0.18%	–
QLYS	New	Qualys	$1,659,000	–	19,057	–	0.17%	–
POOL	New	Pool	$1,220,000	–	6,390	–	0.13%	–
SBAC	New	SBA Communications	$1,178,000	–	5,239	–	0.12%	–
CTLT	New	Catalent	$1,162,000	–	21,432	–	0.12%	–
MTD	New	Mettler Toledo	$1,143,000	–	1,361	–	0.12%	–
WBS	New	Webster Financial Corp.	$1,135,000	–	23,768	–	0.12%	–
DNKN	New	Dunkin' Brands	$1,112,000	–	13,954	–	0.12%	–
JKHY	New	Jack Henry & Associates	$1,084,000	–	8,092	–	0.11%	–
ANSS	New	Ansys	$1,061,000	–	5,178	–	0.11%	–
DY	New	Dycom Industries	$1,001,000	–	17,007	–	0.10%	–
OMCL	New	Omnicell	$976,000	–	11,347	–	0.10%	–
ICFI	New	ICF International	$939,000	–	12,893	–	0.10%	–
MPWR	New	Monolithic Power System	$902,000	–	6,645	–	0.09%	–
AMN	New	AMN Healthcare Services	$820,000	–	15,113	–	0.08%	–
HCSG	New	Healthcare Services Group	$802,000	–	26,447	–	0.08%	–
CHD	New	Church & Dwight	$786,000	–	10,756	–	0.08%	–
HALO	New	Halozyme Therapeutics	$794,000	–	46,243	–	0.08%	–
ESGR	New	Enstar Group	$757,000	–	4,341	–	0.08%	–
IPGP	New	IPG Photonics	$734,000	–	4,757	–	0.08%	–
PRAA	New	PRA Group	$642,000	–	22,817	–	0.07%	–
CYBR	New	CyberArk Software	$575,000	–	4,494	–	0.06%	–
ENB	New	Enbridge	$552,000	–	15,312	–	0.06%	–
MKSI	New	MKS Instruments	$541,000	–	6,941	–	0.06%	–
GOOG	New	Alphabet Class C	$438,000	–	405	–	0.04%	–
IWF	New	iShares Russell 1000G	$400,000	–	2,544	–	0.04%	–
IDXX	New	Idexx Laboratories	$372,000	–	1,350	–	0.04%	–
SBUX	New	Starbucks	$335,000	–	4,000	–	0.04%	–
ECL	New	Ecolab	$336,000	–	1,704	–	0.04%	–
HON	New	Honeywell	$301,000	–	1,726	–	0.03%	–
VONG	New	Vanguard Russell 1000 Growth	$270,000	–	1,667	–	0.03%	–
PYPL	New	PayPal	$215,000	–	1,880	–	0.02%	–
MA	New	Mastercard	$210,000	–	795	–	0.02%	–

Q4 2018

			Value		Shares		↓ Weighting
SBUX	Exit	Starbucks	$0	–	-4,000	–	-0.02%	–
ECL	Exit	Ecolab	$0	–	-1,500	–	-0.02%	–
HON	Exit	Honeywell	$0	–	-1,526	–	-0.02%	–
JPM	Exit	JPMorgan Chase	$0	–	-2,591	–	-0.03%	–
IDXX	Exit	Idexx Laboratories	$0	–	-1,275	–	-0.03%	–
LH	Exit	LabCorp	$0	–	-2,281	–	-0.04%	–
GOOG	Exit	Alphabet Class C	$0	–	-422	–	-0.05%	–
MKSI	Exit	MKS Instruments	$0	–	-7,343	–	-0.06%	–
AMG	Exit	Affiliated Managers Group	$0	–	-4,810	–	-0.07%	–
MTD	Exit	Mettler Toledo	$0	–	-1,254	–	-0.08%	–
HALO	Exit	Halozyme Therapeutics	$0	–	-43,876	–	-0.08%	–
IPGP	Exit	IPG Photonics	$0	–	-5,111	–	-0.08%	–
ESGR	Exit	Enstar Group	$0	–	-3,826	–	-0.08%	–
CLB	Exit	Core Laboratories	$0	–	-7,394	–	-0.08%	–
PRAA	Exit	PRA Group	$0	–	-23,892	–	-0.09%	–
GMAB	Exit	Genmab ADR	$0	–	-54,924	–	-0.09%	–
HCSG	Exit	Healthcare Services Group	$0	–	-21,474	–	-0.09%	–
AMN	Exit	AMN Healthcare Services	$0	–	-16,224	–	-0.09%	–
SBAC	Exit	SBA Communications	$0	–	-5,552	–	-0.09%	–
CHD	Exit	Church & Dwight	$0	–	-15,215	–	-0.09%	–
CPRT	Exit	Copart	$0	–	-20,299	–	-0.10%	–
ICFI	Exit	ICF International	$0	–	-13,797	–	-0.10%	–
ANSS	Exit	Ansys	$0	–	-5,597	–	-0.10%	–
DY	Exit	Dycom Industries	$0	–	-12,499	–	-0.10%	–
POOL	Exit	Pool	$0	–	-6,739	–	-0.11%	–
DNKN	Exit	Dunkin' Brands	$0	–	-15,322	–	-0.11%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-7,622	–	-0.12%	–
WBS	Exit	Webster Financial Corp.	$0	–	-21,676	–	-0.13%	–
OMCL	Exit	Omnicell	$0	–	-18,033	–	-0.13%	–
PRU	Exit	Prudential Financial	$0	–	-15,169	–	-0.15%	–
QLYS	Exit	Qualys	$0	–	-18,489	–	-0.16%	–
AMZN	Exit	Amazon.com	$0	–	-851	–	-0.17%	–
PTVCB	Exit	Protective Insurance	$0	–	-75,627	–	-0.17%	–
AZPN	Exit	Aspen Technology	$0	–	-15,238	–	-0.17%	–
HXL	Exit	Hexcel	$0	–	-26,812	–	-0.18%	–
BA	Exit	Boeing	$0	–	-4,948	–	-0.18%	–
MRK	Exit	Merck	$0	–	-25,965	–	-0.18%	–
PSX	Exit	Phillips 66	$0	–	-16,856	–	-0.19%	–
ABBV	Exit	AbbVie	$0	–	-20,459	–	-0.19%	–
PM	Exit	Philip Morris	$0	–	-24,143	–	-0.20%	–
LYB	Exit	LyondellBasell Industries	$0	–	-20,246	–	-0.21%	–
LMT	Exit	Lockheed Martin	$0	–	-6,418	–	-0.22%	–
MGP	Exit	MGM Growth Properties	$0	–	-76,445	–	-0.22%	–
CMI	Exit	Cummins	$0	–	-15,410	–	-0.22%	–
QCOM	Exit	Qualcomm	$0	–	-32,779	–	-0.24%	–
XOM	Exit	Exxon Mobil	$0	–	-28,097	–	-0.24%	–
AMGN	Exit	Amgen	$0	–	-11,641	–	-0.24%	–
VIAB	Exit	Viacom Cl B	$0	–	-208,780	–	-0.70%	–
GE	Exit	General Electric	$0	–	-764,413	–	-0.86%	–
HPE	Exit	Hewlett Packard Enterprise	$0	–	-541,500	–	-0.88%	–
WU	Exit	Western Union	$0	–	-492,977	–	-0.94%	–
SWK	Exit	Stanley Black & Decker Inc.	$0	–	-66,439	–	-0.97%	–
GD	Exit	Genl Dynamics Corp	$0	–	-48,544	–	-0.99%	–
TGNA	Exit	Tegna Inc.	$0	–	-868,995	–	-1.04%	–
UNH	Exit	UnitedHealth Group	$0	–	-39,172	–	-1.04%	–
BDX	Exit	Becton Dickinson	$0	–	-41,508	–	-1.08%	–
BLK	Exit	BlackRock	$0	–	-23,827	–	-1.12%	–
DWDP	Exit	DowDupont Inc.	$0	–	-183,417	–	-1.18%	–
INTC	Exit	Intel	$0	–	-267,385	–	-1.26%	–
CB	Exit	Chubb Limited	$0	–	-96,212	–	-1.28%	–
MMC	Exit	Marsh & McLennan	$0	–	-163,409	–	-1.35%	–
CHKP	Exit	Check Point Tech Software	$0	–	-117,016	–	-1.37%	–
WFC	Exit	Wells Fargo	$0	–	-262,899	–	-1.38%	–
ALB	Exit	Albemarle	$0	–	-139,358	–	-1.39%	–
EOG	Exit	EOG Resources	$0	–	-113,757	–	-1.45%	–
AIG	Exit	American Intl Group	$0	–	-272,622	–	-1.45%	–
NKE	Exit	Nike	$0	–	-171,971	–	-1.45%	–
ENB	Exit	Enbridge	$0	–	-455,283	–	-1.47%	–
HPQ	Exit	HP INC	$0	–	-572,360	–	-1.47%	–
ETN	Exit	Eaton	$0	–	-172,744	–	-1.50%	–
FB	Exit	Facebook Inc-A	$0	–	-92,268	–	-1.51%	–
BRKB	Exit	Berkshire Hathaway B	$0	–	-71,533	–	-1.53%	–
GM	Exit	General Motors	$0	–	-457,252	–	-1.54%	–
JNJ	Exit	Johnson & Johnson	$0	–	-113,272	–	-1.56%	–
IBM	Exit	Intl Business Machines	$0	–	-105,205	–	-1.59%	–
RDSA	Exit	Royal Dutch Shell Class A	$0	–	-233,330	–	-1.59%	–
ACN	Exit	Accenture	$0	–	-101,014	–	-1.72%	–
APH	Exit	Amphenol	$0	–	-185,454	–	-1.74%	–
CERN	Exit	Cerner	$0	–	-273,026	–	-1.76%	–
L	Exit	Loews	$0	–	-375,557	–	-1.88%	–
BP	Exit	BP PLC	$0	–	-431,188	–	-1.98%	–
LKQ	Exit	LKQ Corporation	$0	–	-639,221	–	-2.02%	–
CNC	Exit	Centene Corporation	$0	–	-141,673	–	-2.05%	–
SCHW	Exit	Charles Schwab	$0	–	-424,003	–	-2.08%	–
GOOGL	Exit	Alphabet Class A	$0	–	-17,497	–	-2.11%	–
UTX	Exit	United Technologies	$0	–	-151,371	–	-2.11%	–
AMT	Exit	American Tower	$0	–	-146,150	–	-2.12%	–
SHW	Exit	Sherwin-Williams	$0	–	-47,074	–	-2.14%	–
ADBE	Exit	Adobe Systems	$0	–	-79,751	–	-2.15%	–
AXP	Exit	American Express	$0	–	-207,184	–	-2.20%	–
BAC	Exit	Bank of America	$0	–	-754,194	–	-2.22%	–
VRSK	Exit	Verisk Analytics	$0	–	-189,895	–	-2.28%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-237,271	–	-2.30%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-66,319	–	-2.30%	–
LZAGY	Exit	Lonza Group ADR	$0	–	-687,425	–	-2.34%	–
DHR	Exit	Danaher	$0	–	-216,290	–	-2.34%	–
MSFT	Exit	Microsoft	$0	–	-205,878	–	-2.35%	–
FISV	Exit	Fiserv	$0	–	-291,195	–	-2.39%	–
V	Exit	Visa	$0	–	-160,655	–	-2.41%	–
CSCO	Exit	Cisco Systems	$0	–	-531,055	–	-2.58%	–
COO	Exit	Cooper Companies	$0	–	-99,212	–	-2.74%	–
AAPL	Exit	Apple	$0	–	-129,661	–	-2.92%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	Apple	$29,270,000	+19.1%	129,661	-2.4%	2.92%	+13.7%
COO	Sell	Cooper Companies	$27,497,000	+15.2%	99,212	-2.2%	2.74%	+10.0%
CSCO	Buy	Cisco Systems	$25,836,000	+14.2%	531,055	+1.0%	2.58%	+9.0%
V	Sell	Visa	$24,113,000	+4.3%	160,655	-8.0%	2.41%	-0.5%
FISV	Sell	Fiserv	$23,989,000	+8.2%	291,195	-2.7%	2.39%	+3.3%
MSFT	Sell	Microsoft	$23,546,000	+14.4%	205,878	-1.3%	2.35%	+9.3%
DHR	Buy	Danaher	$23,502,000	+16.4%	216,290	+5.7%	2.34%	+11.1%
LZAGY	Sell	Lonza Group ADR	$23,400,000	+26.3%	687,425	-2.0%	2.34%	+20.5%
ORLY	Sell	O'Reilly Automotive	$23,034,000	+8.7%	66,319	-14.4%	2.30%	+3.8%
BMRN	Sell	BioMarin Pharmaceuticals	$23,008,000	+1.1%	237,271	-1.8%	2.30%	-3.5%
VRSK	Sell	Verisk Analytics	$22,892,000	+9.4%	189,895	-2.3%	2.28%	+4.4%
BAC	Sell	Bank of America	$22,219,000	+4.0%	754,194	-0.5%	2.22%	-0.7%
AXP	Sell	American Express	$22,063,000	+8.6%	207,184	-0.1%	2.20%	+3.7%
ADBE	Sell	Adobe Systems	$21,529,000	+6.8%	79,751	-3.6%	2.15%	+1.9%
SHW	Sell	Sherwin-Williams	$21,429,000	+9.1%	47,074	-2.4%	2.14%	+4.1%
AMT	Sell	American Tower	$21,236,000	-1.5%	146,150	-2.2%	2.12%	-5.9%
UTX	Sell	United Technologies	$21,163,000	+9.5%	151,371	-2.0%	2.11%	+4.6%
GOOGL	Sell	Alphabet Class A	$21,120,000	+2.8%	17,497	-3.8%	2.11%	-1.9%
SCHW	Sell	Charles Schwab	$20,840,000	-5.9%	424,003	-2.2%	2.08%	-10.2%
CNC	Sell	Centene Corporation	$20,511,000	+16.7%	141,673	-0.7%	2.05%	+11.4%
LKQ	Sell	LKQ Corporation	$20,244,000	-2.8%	639,221	-2.1%	2.02%	-7.2%
BP	Sell	BP PLC	$19,878,000	+0.9%	431,188	-0.1%	1.98%	-3.6%
L	Buy	Loews	$18,864,000	+4.2%	375,557	+0.2%	1.88%	-0.5%
CERN	Sell	Cerner	$17,586,000	+6.1%	273,026	-1.6%	1.76%	+1.3%
APH	Sell	Amphenol	$17,436,000	+5.6%	185,454	-2.1%	1.74%	+0.8%
ACN	Sell	Accenture	$17,193,000	+0.6%	101,014	-3.3%	1.72%	-3.9%
RDSA	Buy	Royal Dutch Shell Class A	$15,899,000	+15.9%	233,330	+17.8%	1.59%	+10.7%
IBM	Buy	Intl Business Machines	$15,908,000	+9.6%	105,205	+1.3%	1.59%	+4.7%
JNJ	Sell	Johnson & Johnson	$15,651,000	+13.8%	113,272	-0.1%	1.56%	+8.7%
GM	Buy	General Motors	$15,396,000	-11.8%	457,252	+3.2%	1.54%	-15.8%
BRKB	Sell	Berkshire Hathaway B	$15,316,000	+13.6%	71,533	-0.9%	1.53%	+8.4%
FB	Sell	Facebook Inc-A	$15,174,000	-17.5%	92,268	-2.5%	1.51%	-21.3%
ETN	Buy	Eaton	$14,982,000	+16.2%	172,744	+0.1%	1.50%	+10.9%
ENB	Sell	Enbridge	$14,701,000	-12.2%	455,283	-3.0%	1.47%	-16.2%
NKE	Sell	Nike	$14,569,000	-7.3%	171,971	-12.8%	1.45%	-11.4%
EOG	Sell	EOG Resources	$14,512,000	+0.5%	113,757	-2.0%	1.45%	-4.0%
AIG	Buy	American Intl Group	$14,514,000	+21.1%	272,622	+20.6%	1.45%	+15.6%
ALB	Sell	Albemarle	$13,905,000	+4.4%	139,358	-1.3%	1.39%	-0.3%
WFC	Sell	Wells Fargo	$13,818,000	-5.4%	262,899	-0.2%	1.38%	-9.7%
CHKP	Sell	Check Point Tech Software	$13,769,000	+12.4%	117,016	-6.7%	1.37%	+7.3%
MMC	Buy	Marsh & McLennan	$13,517,000	+1.1%	163,409	+0.2%	1.35%	-3.5%
CB	Sell	Chubb Limited	$12,858,000	+5.0%	96,212	-0.2%	1.28%	+0.2%
INTC	Buy	Intel	$12,645,000	-4.7%	267,385	+0.2%	1.26%	-9.0%
DWDP	Buy	DowDupont Inc.	$11,796,000	-2.4%	183,417	+0.1%	1.18%	-6.8%
BLK	Sell	BlackRock	$11,230,000	-26.4%	23,827	-22.1%	1.12%	-29.7%
BDX	Sell	Becton Dickinson	$10,834,000	+8.9%	41,508	-0.0%	1.08%	+3.9%
UNH	Sell	UnitedHealth Group	$10,421,000	+7.8%	39,172	-0.5%	1.04%	+3.0%
GD	Buy	Genl Dynamics Corp	$9,938,000	+9.9%	48,544	+0.1%	0.99%	+5.0%
SWK	Sell	Stanley Black & Decker Inc.	$9,729,000	+10.2%	66,439	-0.1%	0.97%	+5.2%
WU	Sell	Western Union	$9,396,000	-6.5%	492,977	-0.2%	0.94%	-10.7%
GE	Sell	General Electric	$8,630,000	-17.1%	764,413	-0.1%	0.86%	-20.9%
AMGN	Buy	Amgen	$2,413,000	+21.6%	11,641	+8.3%	0.24%	+16.4%
XOM	Buy	Exxon Mobil	$2,389,000	+14.7%	28,097	+11.6%	0.24%	+9.2%
QCOM	Buy	Qualcomm	$2,361,000	+35.9%	32,779	+5.9%	0.24%	+29.7%
MGP	Buy	MGM Growth Properties	$2,254,000	+7.6%	76,445	+11.2%	0.22%	+2.7%
CMI	New	Cummins	$2,251,000	–	15,410	–	0.22%	–
LMT	Buy	Lockheed Martin	$2,220,000	+32.2%	6,418	+12.9%	0.22%	+26.9%
LYB	Buy	LyondellBasell Industries	$2,075,000	+6.2%	20,246	+13.8%	0.21%	+1.5%
PM	Buy	Philip Morris	$1,969,000	+27.2%	24,143	+25.9%	0.20%	+21.0%
ABBV	Buy	AbbVie	$1,935,000	+17.3%	20,459	+14.8%	0.19%	+12.2%
PSX	Buy	Phillips 66	$1,900,000	+11.7%	16,856	+11.3%	0.19%	+6.7%
BA	Buy	Boeing	$1,840,000	+27.6%	4,948	+15.1%	0.18%	+21.9%
MRK	Buy	Merck	$1,842,000	+34.6%	25,965	+15.1%	0.18%	+28.7%
HXL	Buy	Hexcel	$1,798,000	+11.8%	26,812	+10.7%	0.18%	+6.5%
AZPN	Sell	Aspen Technology	$1,736,000	+2.1%	15,238	-16.9%	0.17%	-2.8%
PTVCB	New	Protective Insurance	$1,736,000	–	75,627	–	0.17%	–
AMZN	Sell	Amazon.com	$1,705,000	+11.8%	851	-5.1%	0.17%	+6.9%
QLYS	Sell	Qualys	$1,647,000	+0.9%	18,489	-4.6%	0.16%	-4.1%
PRU	Buy	Prudential Financial	$1,537,000	+29.8%	15,169	+19.8%	0.15%	+23.4%
OMCL	Sell	Omnicell	$1,297,000	+20.0%	18,033	-12.5%	0.13%	+14.2%
WBS	Buy	Webster Financial Corp.	$1,278,000	+10.3%	21,676	+19.1%	0.13%	+5.8%
JKHY	Sell	Jack Henry & Associates	$1,220,000	-1.8%	7,622	-20.0%	0.12%	-6.2%
DNKN	Buy	Dunkin' Brands	$1,130,000	+8.0%	15,322	+1.2%	0.11%	+3.7%
POOL	Buy	Pool	$1,125,000	+11.7%	6,739	+1.4%	0.11%	+6.7%
DY	Buy	Dycom Industries	$1,057,000	+9.8%	12,499	+22.7%	0.10%	+4.0%
ICFI	Sell	ICF International	$1,041,000	-7.1%	13,797	-12.5%	0.10%	-11.1%
ANSS	Buy	Ansys	$1,045,000	+11.4%	5,597	+3.9%	0.10%	+6.1%
CPRT	Sell	Copart	$1,046,000	-21.3%	20,299	-13.6%	0.10%	-25.2%
CHD	Sell	Church & Dwight	$903,000	+9.6%	15,215	-1.9%	0.09%	+4.7%
AMN	Buy	AMN Healthcare Services	$887,000	+8.2%	16,224	+15.9%	0.09%	+3.5%
SBAC	Buy	SBA Communications	$892,000	-1.5%	5,552	+1.1%	0.09%	-6.3%
HCSG	Buy	Healthcare Services Group	$872,000	-4.2%	21,474	+1.9%	0.09%	-8.4%
GMAB	Buy	Genmab ADR	$865,000	+6.7%	54,924	+3.8%	0.09%	+1.2%
PRAA	Buy	PRA Group	$860,000	-3.8%	23,892	+3.1%	0.09%	-7.5%
CLB	Buy	Core Laboratories	$856,000	-6.6%	7,394	+1.9%	0.08%	-11.5%
ESGR	Buy	Enstar Group	$798,000	+1.4%	3,826	+0.7%	0.08%	-2.4%
HALO	Buy	Halozyme Therapeutics	$797,000	+25.7%	43,876	+16.8%	0.08%	+21.2%
IPGP	Buy	IPG Photonics	$798,000	+11.5%	5,111	+57.5%	0.08%	+6.7%
MTD	Buy	Mettler Toledo	$764,000	+9.5%	1,254	+3.9%	0.08%	+4.1%
AMG	Buy	Affiliated Managers Group	$658,000	-7.3%	4,810	+0.8%	0.07%	-10.8%
MKSI	Buy	MKS Instruments	$589,000	-13.4%	7,343	+3.3%	0.06%	-16.9%
GOOG	Buy	Alphabet Class C	$504,000	+18.0%	422	+10.2%	0.05%	+11.1%
LH	Sell	LabCorp	$396,000	-4.6%	2,281	-1.4%	0.04%	-7.0%
IDXX	Buy	Idexx Laboratories	$318,000	+21.4%	1,275	+6.2%	0.03%	+18.5%
JPM	Buy	JPMorgan Chase	$292,000	+18.2%	2,591	+9.2%	0.03%	+11.5%
SBUX	New	Starbucks	$227,000	–	4,000	–	0.02%	–
CMDXF	Exit	Computer Modelling Group	$0	–	-74,020	–	-0.06%	–
BWINB	Exit	Baldwin & Lyons cl B	$0	–	-48,369	–	-0.12%	–
ORI	Exit	Old Republic International	$0	–	-84,410	–	-0.18%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-724,169	–	-0.88%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	Apple	$24,581,000	–	132,790	–	2.57%	–
COO	New	Cooper Companies	$23,874,000	–	101,396	–	2.50%	–
V	New	Visa	$23,124,000	–	174,588	–	2.42%	–
BMRN	New	BioMarin Pharmaceuticals	$22,768,000	–	241,695	–	2.38%	–
CSCO	New	Cisco Systems	$22,625,000	–	525,793	–	2.36%	–
FISV	New	Fiserv	$22,175,000	–	299,294	–	2.32%	–
SCHW	New	Charles Schwab	$22,152,000	–	433,508	–	2.32%	–
AMT	New	American Tower	$21,552,000	–	149,490	–	2.25%	–
BAC	New	Bank of America	$21,358,000	–	757,637	–	2.23%	–
ORLY	New	O'Reilly Automotive	$21,185,000	–	77,439	–	2.21%	–
VRSK	New	Verisk Analytics	$20,923,000	–	194,381	–	2.19%	–
LKQ	New	LKQ Corporation	$20,820,000	–	652,662	–	2.18%	–
MSFT	New	Microsoft	$20,574,000	–	208,640	–	2.15%	–
GOOGL	New	Alphabet Class A	$20,537,000	–	18,187	–	2.15%	–
AXP	New	American Express	$20,314,000	–	207,288	–	2.12%	–
DHR	New	Danaher	$20,190,000	–	204,598	–	2.11%	–
ADBE	New	Adobe Systems	$20,161,000	–	82,692	–	2.11%	–
BP	New	BP PLC	$19,699,000	–	431,426	–	2.06%	–
SHW	New	Sherwin-Williams	$19,650,000	–	48,213	–	2.05%	–
UTX	New	United Technologies	$19,320,000	–	154,524	–	2.02%	–
LZAGY	New	Lonza Group ADR	$18,530,000	–	701,230	–	1.94%	–
FB	New	Facebook Inc-A	$18,393,000	–	94,652	–	1.92%	–
L	New	Loews	$18,098,000	–	374,865	–	1.89%	–
CNC	New	Centene Corporation	$17,571,000	–	142,611	–	1.84%	–
GM	New	General Motors	$17,462,000	–	443,191	–	1.82%	–
ACN	New	Accenture	$17,083,000	–	104,424	–	1.79%	–
ENB	New	Enbridge	$16,745,000	–	469,179	–	1.75%	–
CERN	New	Cerner	$16,582,000	–	277,334	–	1.73%	–
APH	New	Amphenol	$16,511,000	–	189,454	–	1.73%	–
NKE	New	Nike	$15,709,000	–	197,148	–	1.64%	–
BLK	New	BlackRock	$15,260,000	–	30,579	–	1.60%	–
WFC	New	Wells Fargo	$14,606,000	–	263,447	–	1.53%	–
IBM	New	Intl Business Machines	$14,508,000	–	103,849	–	1.52%	–
EOG	New	EOG Resources	$14,441,000	–	116,059	–	1.51%	–
JNJ	New	Johnson & Johnson	$13,752,000	–	113,334	–	1.44%	–
RDSA	New	Royal Dutch Shell Class A	$13,713,000	–	198,084	–	1.43%	–
BRKB	New	Berkshire Hathaway B	$13,477,000	–	72,204	–	1.41%	–
MMC	New	Marsh & McLennan	$13,374,000	–	163,159	–	1.40%	–
ALB	New	Albemarle	$13,318,000	–	141,182	–	1.39%	–
INTC	New	Intel	$13,265,000	–	266,847	–	1.39%	–
HPQ	New	HP INC	$12,987,000	–	572,360	–	1.36%	–
ETN	New	Eaton	$12,896,000	–	172,551	–	1.35%	–
CHKP	New	Check Point Tech Software	$12,252,000	–	125,428	–	1.28%	–
CB	New	Chubb Limited	$12,247,000	–	96,414	–	1.28%	–
DWDP	New	DowDupont Inc.	$12,082,000	–	183,289	–	1.26%	–
AIG	New	American Intl Group	$11,987,000	–	226,090	–	1.25%	–
GE	New	General Electric	$10,416,000	–	765,299	–	1.09%	–
WU	New	Western Union	$10,044,000	–	494,070	–	1.05%	–
BDX	New	Becton Dickinson	$9,948,000	–	41,527	–	1.04%	–
UNH	New	UnitedHealth Group	$9,663,000	–	39,387	–	1.01%	–
TGNA	New	Tegna Inc.	$9,429,000	–	868,995	–	0.99%	–
GD	New	Genl Dynamics Corp	$9,041,000	–	48,501	–	0.94%	–
SWK	New	Stanley Black & Decker Inc.	$8,829,000	–	66,482	–	0.92%	–
BWP	New	Boardwalk Pipeline Partners	$8,415,000	–	724,169	–	0.88%	–
HPE	New	Hewlett Packard Enterprise	$7,911,000	–	541,500	–	0.83%	–
VIAB	New	Viacom Cl B	$6,297,000	–	208,780	–	0.66%	–
MGP	New	MGM Growth Properties	$2,094,000	–	68,758	–	0.22%	–
XOM	New	Exxon Mobil	$2,083,000	–	25,183	–	0.22%	–
AMGN	New	Amgen	$1,984,000	–	10,749	–	0.21%	–
LYB	New	LyondellBasell Industries	$1,954,000	–	17,786	–	0.20%	–
QCOM	New	Qualcomm	$1,737,000	–	30,952	–	0.18%	–
PSX	New	Phillips 66	$1,701,000	–	15,146	–	0.18%	–
AZPN	New	Aspen Technology	$1,701,000	–	18,342	–	0.18%	–
ORI	New	Old Republic International	$1,681,000	–	84,410	–	0.18%	–
LMT	New	Lockheed Martin	$1,679,000	–	5,684	–	0.18%	–
ABBV	New	AbbVie	$1,650,000	–	17,814	–	0.17%	–
QLYS	New	Qualys	$1,633,000	–	19,371	–	0.17%	–
HXL	New	Hexcel	$1,608,000	–	24,228	–	0.17%	–
PM	New	Philip Morris	$1,548,000	–	19,172	–	0.16%	–
AMZN	New	Amazon.com	$1,525,000	–	897	–	0.16%	–
BA	New	Boeing	$1,442,000	–	4,299	–	0.15%	–
MRK	New	Merck	$1,369,000	–	22,553	–	0.14%	–
CPRT	New	Copart	$1,329,000	–	23,495	–	0.14%	–
JKHY	New	Jack Henry & Associates	$1,242,000	–	9,529	–	0.13%	–
PRU	New	Prudential Financial	$1,184,000	–	12,660	–	0.12%	–
BWINB	New	Baldwin & Lyons cl B	$1,180,000	–	48,369	–	0.12%	–
WBS	New	Webster Financial Corp.	$1,159,000	–	18,201	–	0.12%	–
ICFI	New	ICF International	$1,120,000	–	15,760	–	0.12%	–
OMCL	New	Omnicell	$1,081,000	–	20,616	–	0.11%	–
DNKN	New	Dunkin' Brands	$1,046,000	–	15,138	–	0.11%	–
POOL	New	Pool	$1,007,000	–	6,646	–	0.10%	–
DY	New	Dycom Industries	$963,000	–	10,186	–	0.10%	–
ANSS	New	Ansys	$938,000	–	5,385	–	0.10%	–
CLB	New	Core Laboratories	$916,000	–	7,254	–	0.10%	–
HCSG	New	Healthcare Services Group	$910,000	–	21,067	–	0.10%	–
SBAC	New	SBA Communications	$906,000	–	5,489	–	0.10%	–
PRAA	New	PRA Group	$894,000	–	23,184	–	0.09%	–
AMN	New	AMN Healthcare Services	$820,000	–	14,001	–	0.09%	–
CHD	New	Church & Dwight	$824,000	–	15,507	–	0.09%	–
GMAB	New	Genmab ADR	$811,000	–	52,933	–	0.08%	–
ESGR	New	Enstar Group	$787,000	–	3,798	–	0.08%	–
IPGP	New	IPG Photonics	$716,000	–	3,246	–	0.08%	–
AMG	New	Affiliated Managers Group	$710,000	–	4,773	–	0.07%	–
MTD	New	Mettler Toledo	$698,000	–	1,207	–	0.07%	–
MKSI	New	MKS Instruments	$680,000	–	7,106	–	0.07%	–
HALO	New	Halozyme Therapeutics	$634,000	–	37,552	–	0.07%	–
CMDXF	New	Computer Modelling Group	$561,000	–	74,020	–	0.06%	–
GOOG	New	Alphabet Class C	$427,000	–	383	–	0.04%	–
LH	New	LabCorp	$415,000	–	2,313	–	0.04%	–
IDXX	New	Idexx Laboratories	$262,000	–	1,200	–	0.03%	–
JPM	New	JPMorgan Chase	$247,000	–	2,372	–	0.03%	–
HON	New	Honeywell	$220,000	–	1,526	–	0.02%	–
ECL	New	Ecolab	$210,000	–	1,500	–	0.02%	–

Q4 2017

			Value		Shares		↓ Weighting
JPM	Exit	JPMorgan Chase	$0	–	-2,271	–	-0.02%	–
CMDXF	Exit	Computer Modelling Group	$0	–	-50,756	–	-0.04%	–
CBM	Exit	Cambrex Corporation	$0	–	-7,779	–	-0.04%	–
CLB	Exit	Core Laboratories	$0	–	-4,432	–	-0.04%	–
HDS	Exit	HD Supply	$0	–	-12,676	–	-0.04%	–
ANSS	Exit	Ansys	$0	–	-4,011	–	-0.05%	–
PRAA	Exit	PRA Group	$0	–	-17,122	–	-0.05%	–
CRTO	Exit	Criteo	$0	–	-12,138	–	-0.05%	–
HALO	Exit	Halozyme Therapeutics	$0	–	-29,945	–	-0.05%	–
GMAB	Exit	Genmab ADR	$0	–	-4,672	–	-0.05%	–
POOL	Exit	Pool	$0	–	-4,958	–	-0.05%	–
AZPN	Exit	Aspen Technology	$0	–	-8,671	–	-0.05%	–
DNKN	Exit	Dunkin' Brands	$0	–	-10,503	–	-0.06%	–
IPGP	Exit	IPG Photonics	$0	–	-3,149	–	-0.06%	–
ICFI	Exit	ICFI International	$0	–	-10,783	–	-0.06%	–
ESGR	Exit	Enstar Group	$0	–	-2,634	–	-0.06%	–
MIDD	Exit	Middleby	$0	–	-4,924	–	-0.06%	–
DY	Exit	Dycom Industries	$0	–	-7,618	–	-0.06%	–
MTD	Exit	Mettler Toledo	$0	–	-1,047	–	-0.06%	–
QLYS	Exit	Qualys	$0	–	-12,850	–	-0.07%	–
CHD	Exit	Church & Dwight	$0	–	-14,363	–	-0.07%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-7,113	–	-0.07%	–
LH	Exit	LabCorp	$0	–	-4,842	–	-0.07%	–
SBAC	Exit	SBA Communications	$0	–	-5,037	–	-0.07%	–
AMG	Exit	Affiliated Managers Group	$0	–	-4,130	–	-0.08%	–
CPRT	Exit	Copart	$0	–	-23,322	–	-0.08%	–
OMCL	Exit	Omnicell	$0	–	-15,780	–	-0.08%	–
PRU	Exit	Prudential Financial	$0	–	-7,770	–	-0.08%	–
HXL	Exit	Hexcel	$0	–	-14,937	–	-0.08%	–
MRK	Exit	Merck	$0	–	-14,999	–	-0.10%	–
PSX	Exit	Phillips 66	$0	–	-10,820	–	-0.10%	–
NVR	Exit	NVR Inc.	$0	–	-351	–	-0.10%	–
AMGN	Exit	Amgen	$0	–	-5,643	–	-0.10%	–
BA	Exit	Boeing	$0	–	-4,285	–	-0.11%	–
QCOM	Exit	Qualcomm	$0	–	-23,305	–	-0.12%	–
MSFT	Exit	Microsoft	$0	–	-16,472	–	-0.12%	–
MGP	Exit	MGM Growth Properties	$0	–	-40,875	–	-0.12%	–
ORI	Exit	Old Republic International	$0	–	-62,395	–	-0.12%	–
PM	Exit	Philip Morris	$0	–	-11,434	–	-0.13%	–
ABBV	Exit	AbbVie	$0	–	-14,385	–	-0.13%	–
LYB	Exit	LyondellBasell Industries	$0	–	-14,320	–	-0.14%	–
XOM	Exit	Exxon Mobil	$0	–	-17,720	–	-0.14%	–
LMT	Exit	Lockheed Martin	$0	–	-5,340	–	-0.16%	–
VIAB	Exit	Viacom Cl B	$0	–	-208,700	–	-0.58%	–
TGNA	Exit	Tegna Inc.	$0	–	-482,700	–	-0.64%	–
ANTM	Exit	Anthem Inc.	$0	–	-41,300	–	-0.78%	–
HPE	Exit	Hewlett Packard Enterprise	$0	–	-541,100	–	-0.79%	–
GCI	Exit	Gannett	$0	–	-1,045,000	–	-0.93%	–
WU	Exit	Western Union	$0	–	-511,395	–	-0.97%	–
GD	Exit	Genl Dynamics Corp	$0	–	-50,171	–	-1.02%	–
BDX	Exit	Becton Dickinson	$0	–	-53,205	–	-1.03%	–
SWK	Exit	Stanley Black & Decker Inc.	$0	–	-69,170	–	-1.03%	–
KBR	Exit	KBR, Inc.	$0	–	-590,400	–	-1.04%	–
INTC	Exit	Intel	$0	–	-277,617	–	-1.05%	–
UNH	Exit	UnitedHealth Group	$0	–	-57,889	–	-1.12%	–
HPQ	Exit	HP INC	$0	–	-572,000	–	-1.13%	–
AIG	Exit	American Intl Group	$0	–	-190,836	–	-1.16%	–
TUP	Exit	Tupperware Brands	$0	–	-192,130	–	-1.18%	–
T	Exit	AT&T	$0	–	-305,435	–	-1.18%	–
RDSA	Exit	Royal Dutch Shell Class A	$0	–	-198,886	–	-1.19%	–
HBI	Exit	Hanesbrands	$0	–	-504,651	–	-1.23%	–
NKE	Exit	Nike	$0	–	-246,049	–	-1.26%	–
BRKB	Exit	Berkshire Hathaway B	$0	–	-70,675	–	-1.28%	–
DWDP	Exit	DowDupont Inc.	$0	–	-189,950	–	-1.30%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-914,304	–	-1.33%	–
GE	Exit	General Electric	$0	–	-560,775	–	-1.34%	–
ETN	Exit	Eaton	$0	–	-178,053	–	-1.35%	–
MMC	Exit	Marsh & McLennan	$0	–	-168,784	–	-1.40%	–
CB	Exit	Chubb Limited	$0	–	-99,585	–	-1.40%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-69,674	–	-1.48%	–
WFC	Exit	Wells Fargo	$0	–	-272,328	–	-1.49%	–
IBM	Exit	Intl Business Machines	$0	–	-103,869	–	-1.49%	–
JNJ	Exit	Johnson & Johnson	$0	–	-117,164	–	-1.51%	–
EOG	Exit	EOG Resources	$0	–	-161,090	–	-1.54%	–
L	Exit	Loews	$0	–	-331,776	–	-1.57%	–
VRSK	Exit	Verisk Analytics	$0	–	-191,058	–	-1.57%	–
CSCO	Exit	Cisco Systems	$0	–	-492,221	–	-1.64%	–
ENB	Exit	Enbridge	$0	–	-397,778	–	-1.65%	–
INCY	Exit	Incyte	$0	–	-144,412	–	-1.67%	–
BP	Exit	BP PLC	$0	–	-443,405	–	-1.69%	–
BLK	Exit	BlackRock	$0	–	-38,359	–	-1.70%	–
ADBE	Exit	Adobe Systems	$0	–	-116,404	–	-1.72%	–
CL	Exit	Colgate-Palmolive	$0	–	-238,463	–	-1.72%	–
CHKP	Exit	Checkpoint Software	$0	–	-152,639	–	-1.72%	–
ACN	Exit	Accenture	$0	–	-129,102	–	-1.72%	–
SHW	Exit	Sherwin-Williams	$0	–	-49,327	–	-1.75%	–
GM	Exit	General Motors	$0	–	-442,091	–	-1.77%	–
UTX	Exit	United Technologies	$0	–	-156,217	–	-1.79%	–
APH	Exit	Amphenol	$0	–	-222,745	–	-1.86%	–
LKQ	Exit	LKQ Corporation	$0	–	-528,567	–	-1.88%	–
DHR	Exit	Danaher	$0	–	-223,539	–	-1.90%	–
ALB	Exit	Albemarle	$0	–	-141,254	–	-1.90%	–
AXP	Exit	American Express	$0	–	-213,435	–	-1.91%	–
LZAGY	Exit	Lonza Group ADR	$0	–	-765,461	–	-1.99%	–
COO	Exit	Cooper Companies	$0	–	-85,070	–	-2.00%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-228,796	–	-2.11%	–
BAC	Exit	Bank of America	$0	–	-856,418	–	-2.15%	–
AMT	Exit	American Tower	$0	–	-166,181	–	-2.25%	–
AAPL	Exit	Apple	$0	–	-147,891	–	-2.26%	–
CERN	Exit	Cerner	$0	–	-321,134	–	-2.27%	–
FISV	Exit	Fiserv	$0	–	-178,911	–	-2.28%	–
FB	Exit	Facebook Inc-A	$0	–	-135,142	–	-2.28%	–
SCHW	Exit	Charles Schwab	$0	–	-539,218	–	-2.33%	–
V	Exit	Visa	$0	–	-237,281	–	-2.47%	–
GOOGL	Exit	Alphabet Class A	$0	–	-29,589	–	-2.85%	–

Q3 2017

			Value		Shares		↓ Weighting
GOOGL	Sell	Alphabet Class A	$28,811,000	+3.4%	29,589	-1.3%	2.85%	-2.9%
V	Sell	Visa	$24,971,000	+10.4%	237,281	-1.6%	2.47%	+3.7%
SCHW	Sell	Charles Schwab	$23,585,000	+0.5%	539,218	-1.3%	2.33%	-5.6%
FB	Sell	Facebook Inc-A	$23,092,000	+0.5%	135,142	-11.2%	2.28%	-5.5%
FISV	Sell	Fiserv	$23,072,000	+4.5%	178,911	-0.9%	2.28%	-1.8%
CERN	Sell	Cerner	$22,903,000	+5.9%	321,134	-1.3%	2.27%	-0.5%
AAPL	Sell	Apple	$22,793,000	-5.6%	147,891	-11.8%	2.26%	-11.3%
AMT	Sell	American Tower	$22,714,000	+1.6%	166,181	-1.6%	2.25%	-4.5%
BAC	Buy	Bank of America	$21,702,000	+7.0%	856,418	+2.4%	2.15%	+0.5%
BMRN	Buy	BioMarin Pharmaceuticals	$21,294,000	+3.1%	228,796	+0.6%	2.11%	-3.1%
COO	Sell	Cooper Companies	$20,171,000	-2.2%	85,070	-1.3%	2.00%	-8.1%
LZAGY	New	Lonza Group ADR	$20,101,000	–	765,461	–	1.99%	–
AXP	Buy	American Express	$19,307,000	+10.0%	213,435	+2.4%	1.91%	+3.3%
ALB	Sell	Albemarle	$19,254,000	+11.3%	141,254	-13.8%	1.90%	+4.6%
DHR	Sell	Danaher	$19,175,000	-0.2%	223,539	-1.8%	1.90%	-6.2%
LKQ	Sell	LKQ Corporation	$19,023,000	+2.9%	528,567	-5.8%	1.88%	-3.3%
APH	Sell	Amphenol	$18,853,000	+12.6%	222,745	-1.8%	1.86%	+5.8%
UTX	Sell	United Technologies	$18,134,000	-6.2%	156,217	-1.3%	1.79%	-11.9%
GM	Buy	General Motors	$17,852,000	+22.0%	442,091	+5.5%	1.77%	+14.6%
SHW	Sell	Sherwin-Williams	$17,661,000	+0.6%	49,327	-1.4%	1.75%	-5.5%
ACN	Sell	Accenture	$17,438,000	-21.1%	129,102	-27.7%	1.72%	-25.8%
CHKP	Buy	Checkpoint Software	$17,404,000	+24.0%	152,639	+18.6%	1.72%	+16.5%
CL	Sell	Colgate-Palmolive	$17,372,000	-3.0%	238,463	-1.3%	1.72%	-8.9%
ADBE	Sell	Adobe Systems	$17,365,000	+0.1%	116,404	-5.1%	1.72%	-6.0%
BLK	Sell	BlackRock	$17,150,000	-9.8%	38,359	-14.8%	1.70%	-15.2%
BP	Buy	BP PLC	$17,040,000	+13.4%	443,405	+2.2%	1.69%	+6.5%
INCY	Buy	Incyte	$16,859,000	-4.4%	144,412	+3.1%	1.67%	-10.1%
ENB	Sell	Enbridge	$16,643,000	+4.3%	397,778	-0.8%	1.65%	-2.0%
CSCO	Buy	Cisco Systems	$16,553,000	+9.6%	492,221	+2.0%	1.64%	+3.0%
VRSK	Sell	Verisk Analytics	$15,894,000	-2.8%	191,058	-1.4%	1.57%	-8.7%
L	Buy	Loews	$15,879,000	+4.4%	331,776	+2.1%	1.57%	-1.9%
EOG	Sell	EOG Resources	$15,584,000	+5.3%	161,090	-1.5%	1.54%	-1.0%
JNJ	Buy	Johnson & Johnson	$15,232,000	+0.7%	117,164	+2.5%	1.51%	-5.3%
IBM	Buy	Intl Business Machines	$15,069,000	+6.8%	103,869	+13.3%	1.49%	+0.4%
WFC	Buy	Wells Fargo	$15,019,000	+1.9%	272,328	+2.4%	1.49%	-4.2%
ORLY	Buy	O'Reilly Automotive	$15,006,000	+30.9%	69,674	+32.9%	1.48%	+23.0%
CB	Buy	Chubb Limited	$14,196,000	+0.6%	99,585	+2.6%	1.40%	-5.5%
MMC	Sell	Marsh & McLennan	$14,146,000	-5.2%	168,784	-11.8%	1.40%	-10.9%
ETN	Buy	Eaton	$13,673,000	+1.2%	178,053	+2.6%	1.35%	-4.9%
GE	Buy	General Electric	$13,560,000	-8.6%	560,775	+2.1%	1.34%	-14.1%
BWP	Buy	Boardwalk Pipeline Partners	$13,440,000	-17.0%	914,304	+1.7%	1.33%	-22.0%
DWDP	New	DowDupont Inc.	$13,150,000	–	189,950	–	1.30%	–
BRKB	Buy	Berkshire Hathaway B	$12,956,000	+16.1%	70,675	+7.3%	1.28%	+9.1%
NKE	Buy	Nike	$12,758,000	-10.8%	246,049	+1.5%	1.26%	-16.2%
HBI	Sell	Hanesbrands	$12,435,000	+5.6%	504,651	-0.7%	1.23%	-0.8%
RDSA	New	Royal Dutch Shell Class A	$12,049,000	–	198,886	–	1.19%	–
T	Buy	AT&T	$11,964,000	+8.5%	305,435	+4.5%	1.18%	+2.0%
AIG	Buy	American Intl Group	$11,715,000	+23.7%	190,836	+26.0%	1.16%	+16.2%
UNH	Buy	UnitedHealth Group	$11,338,000	+7.8%	57,889	+2.1%	1.12%	+1.4%
INTC	Buy	Intel	$10,572,000	+16.9%	277,617	+3.5%	1.05%	+9.8%
SWK	Buy	Stanley Black & Decker Inc.	$10,443,000	+10.6%	69,170	+3.1%	1.03%	+3.9%
BDX	Buy	Becton Dickinson	$10,426,000	+3.3%	53,205	+2.8%	1.03%	-2.9%
GD	Buy	Genl Dynamics Corp	$10,314,000	+7.3%	50,171	+3.4%	1.02%	+0.8%
WU	Buy	Western Union	$9,819,000	+3.5%	511,395	+2.7%	0.97%	-2.7%
LMT	Sell	Lockheed Martin	$1,657,000	-1.5%	5,340	-11.9%	0.16%	-7.3%
XOM	New	Exxon Mobil	$1,453,000	–	17,720	–	0.14%	–
LYB	Buy	LyondellBasell Industries	$1,418,000	+25.6%	14,320	+7.0%	0.14%	+17.6%
ABBV	Buy	AbbVie	$1,278,000	+29.2%	14,385	+5.4%	0.13%	+21.2%
PM	Buy	Philip Morris	$1,269,000	-5.1%	11,434	+0.4%	0.13%	-10.6%
MGP	Buy	MGM Growth Properties	$1,235,000	+28.6%	40,875	+24.3%	0.12%	+20.8%
ORI	New	Old Republic International	$1,229,000	–	62,395	–	0.12%	–
MSFT	Sell	Microsoft	$1,227,000	+2.1%	16,472	-5.6%	0.12%	-4.7%
QCOM	Buy	Qualcomm	$1,208,000	+33.3%	23,305	+42.1%	0.12%	+26.3%
BA	Buy	Boeing	$1,089,000	+31.7%	4,285	+2.5%	0.11%	+24.1%
AMGN	New	Amgen	$1,052,000	–	5,643	–	0.10%	–
NVR	Buy	NVR Inc.	$1,002,000	+100.8%	351	+69.6%	0.10%	+86.8%
PSX	Buy	Phillips 66	$991,000	+27.9%	10,820	+15.5%	0.10%	+19.5%
MRK	Sell	Merck	$960,000	-18.5%	14,999	-18.4%	0.10%	-23.4%
HXL	Buy	Hexcel	$858,000	+10.0%	14,937	+1.1%	0.08%	+3.7%
PRU	Buy	Prudential Financial	$826,000	+2.7%	7,770	+4.5%	0.08%	-3.5%
OMCL	Sell	Omnicell	$806,000	+4.1%	15,780	-12.1%	0.08%	-2.4%
CPRT	Buy	Copart	$802,000	+9.1%	23,322	+0.8%	0.08%	+2.6%
AMG	Buy	Affiliated Managers Group	$784,000	+15.3%	4,130	+0.8%	0.08%	+8.3%
LH	Buy	LabCorp	$731,000	+64.6%	4,842	+68.0%	0.07%	+53.2%
SBAC	Sell	SBA Communications	$726,000	-8.2%	5,037	-14.1%	0.07%	-13.3%
JKHY	Buy	Jack Henry & Associates	$731,000	-0.3%	7,113	+0.9%	0.07%	-6.5%
CHD	Sell	Church & Dwight	$696,000	-7.8%	14,363	-1.3%	0.07%	-12.7%
QLYS	Sell	Qualys	$666,000	+13.1%	12,850	-11.0%	0.07%	+6.5%
DY	Buy	Dycom Industries	$654,000	+37.4%	7,618	+43.4%	0.06%	+30.0%
MTD	Buy	Mettler Toledo	$656,000	+7.4%	1,047	+0.8%	0.06%	+1.6%
MIDD	Buy	Middleby	$631,000	+7.3%	4,924	+1.7%	0.06%	0.0%
ESGR	Buy	Enstar Group	$586,000	+14.0%	2,634	+1.8%	0.06%	+7.4%
ICFI	Buy	ICFI International	$582,000	+15.5%	10,783	+0.9%	0.06%	+9.4%
IPGP	Sell	IPG Photonics	$583,000	-14.1%	3,149	-32.7%	0.06%	-18.3%
DNKN	Buy	Dunkin' Brands	$557,000	+16.3%	10,503	+21.0%	0.06%	+10.0%
AZPN	Buy	Aspen Technology	$545,000	+14.7%	8,671	+0.8%	0.05%	+8.0%
POOL	New	Pool	$536,000	–	4,958	–	0.05%	–
GMAB	Buy	Genmab ADR	$517,000	+4.4%	4,672	+0.8%	0.05%	-1.9%
HALO	Buy	Halozyme Therapeutics	$520,000	+36.5%	29,945	+0.9%	0.05%	+27.5%
CRTO	Buy	Criteo	$504,000	-14.0%	12,138	+1.6%	0.05%	-19.4%
PRAA	New	PRA Group	$491,000	–	17,122	–	0.05%	–
ANSS	Buy	Ansys	$492,000	+1.7%	4,011	+0.9%	0.05%	-3.9%
HDS	Sell	HD Supply	$457,000	+16.9%	12,676	-0.7%	0.04%	+9.8%
CLB	Buy	Core Laboratories	$437,000	-1.8%	4,432	+0.9%	0.04%	-8.5%
CBM	New	Cambrex Corporation	$428,000	–	7,779	–	0.04%	–
CMDXF	Buy	Computer Modelling Group	$373,000	-5.3%	50,756	+1.3%	0.04%	-9.8%
JPM	Sell	JPMorgan Chase	$217,000	0.0%	2,271	-4.2%	0.02%	-8.7%
PAGP	Exit	Plains GP Holdings	$0	–	-9,615	–	-0.03%	–
NLSN	Exit	Nielsen Holdings	$0	–	-9,422	–	-0.04%	–
RE	Exit	Everest Re Group	$0	–	-1,831	–	-0.05%	–
ABCO	Exit	Advisory Board	$0	–	-9,579	–	-0.05%	–
GILD	Exit	Gilead Sciences	$0	–	-7,358	–	-0.06%	–
MANH	Exit	Manhattan Associates	$0	–	-11,037	–	-0.06%	–
OB	Exit	OneBeacon Insurance	$0	–	-36,750	–	-0.07%	–
ERIE	Exit	Erie Indemnity Co	$0	–	-9,665	–	-0.13%	–
DOW	Exit	Dow Chemical	$0	–	-184,290	–	-1.22%	–

Q2 2017

			Value		Shares		↓ Weighting
GOOGL	New	Alphabet Class A	$27,876,000	–	29,985	–	2.94%	–
AAPL	New	Apple	$24,143,000	–	167,634	–	2.54%	–
SCHW	New	Charles Schwab	$23,476,000	–	546,469	–	2.47%	–
FB	New	Facebook Inc-A	$22,977,000	–	152,188	–	2.42%	–
V	New	Visa	$22,622,000	–	241,220	–	2.38%	–
AMT	New	American Tower	$22,357,000	–	168,963	–	2.35%	–
ACN	New	Accenture	$22,090,000	–	178,604	–	2.33%	–
FISV	New	Fiserv	$22,086,000	–	180,530	–	2.33%	–
CERN	New	Cerner	$21,635,000	–	325,484	–	2.28%	–
BMRN	New	BioMarin Pharmaceuticals	$20,649,000	–	227,360	–	2.17%	–
COO	New	Cooper Companies	$20,632,000	–	86,174	–	2.17%	–
BAC	New	Bank of America	$20,281,000	–	835,987	–	2.14%	–
UTX	New	United Technologies	$19,331,000	–	158,307	–	2.04%	–
DHR	New	Danaher	$19,216,000	–	227,709	–	2.02%	–
BLK	New	BlackRock	$19,011,000	–	45,006	–	2.00%	–
LKQ	New	LKQ Corporation	$18,492,000	–	561,221	–	1.95%	–
CL	New	Colgate-Palmolive	$17,908,000	–	241,572	–	1.89%	–
INCY	New	Incyte	$17,630,000	–	140,023	–	1.86%	–
AXP	New	American Express	$17,559,000	–	208,443	–	1.85%	–
SHW	New	Sherwin-Williams	$17,558,000	–	50,029	–	1.85%	–
ADBE	New	Adobe Systems	$17,355,000	–	122,704	–	1.83%	–
ALB	New	Albemarle	$17,298,000	–	163,903	–	1.82%	–
APH	New	Amphenol	$16,742,000	–	226,791	–	1.76%	–
VRSK	New	Verisk Analytics	$16,355,000	–	193,849	–	1.72%	–
BWP	New	Boardwalk Pipeline Partners	$16,188,000	–	898,830	–	1.70%	–
ENB	New	Enbridge	$15,963,000	–	400,969	–	1.68%	–
L	New	Loews	$15,216,000	–	325,049	–	1.60%	–
JNJ	New	Johnson & Johnson	$15,120,000	–	114,295	–	1.59%	–
CSCO	New	Cisco Systems	$15,100,000	–	482,415	–	1.59%	–
BP	New	BP PLC	$15,032,000	–	433,817	–	1.58%	–
MMC	New	Marsh & McLennan	$14,921,000	–	191,391	–	1.57%	–
GE	New	General Electric	$14,833,000	–	549,160	–	1.56%	–
EOG	New	EOG Resources	$14,799,000	–	163,494	–	1.56%	–
WFC	New	Wells Fargo	$14,733,000	–	265,899	–	1.55%	–
GM	New	General Motors	$14,636,000	–	419,010	–	1.54%	–
NKE	New	Nike	$14,300,000	–	242,373	–	1.51%	–
CB	New	Chubb Limited	$14,110,000	–	97,059	–	1.49%	–
IBM	New	Intl Business Machines	$14,103,000	–	91,680	–	1.48%	–
CHKP	New	Checkpoint Software	$14,040,000	–	128,713	–	1.48%	–
ETN	New	Eaton	$13,507,000	–	173,546	–	1.42%	–
TUP	New	Tupperware Brands	$13,493,000	–	192,130	–	1.42%	–
HBI	New	Hanesbrands	$11,775,000	–	508,405	–	1.24%	–
DOW	New	Dow Chemical	$11,623,000	–	184,290	–	1.22%	–
ORLY	New	O'Reilly Automotive	$11,466,000	–	52,420	–	1.21%	–
BRKB	New	Berkshire Hathaway B	$11,155,000	–	65,864	–	1.18%	–
T	New	AT&T	$11,026,000	–	292,226	–	1.16%	–
UNH	New	UnitedHealth Group	$10,514,000	–	56,704	–	1.11%	–
BDX	New	Becton Dickinson	$10,096,000	–	51,745	–	1.06%	–
HPQ	New	HP INC	$9,999,000	–	572,000	–	1.05%	–
GD	New	Genl Dynamics Corp	$9,615,000	–	48,538	–	1.01%	–
WU	New	Western Union	$9,486,000	–	497,962	–	1.00%	–
AIG	New	American Intl Group	$9,470,000	–	151,468	–	1.00%	–
SWK	New	Stanley Black & Decker Inc.	$9,441,000	–	67,086	–	0.99%	–
GCI	New	Gannett	$9,112,000	–	1,045,000	–	0.96%	–
INTC	New	Intel	$9,047,000	–	268,129	–	0.95%	–
KBR	New	KBR, Inc.	$8,986,000	–	590,400	–	0.95%	–
HPE	New	Hewlett Packard Enterprise	$8,977,000	–	541,100	–	0.94%	–
ANTM	New	Anthem Inc.	$7,770,000	–	41,300	–	0.82%	–
VIAB	New	Viacom Cl B	$7,006,000	–	208,700	–	0.74%	–
TGNA	New	Tegna Inc.	$6,956,000	–	482,700	–	0.73%	–
LMT	New	Lockheed Martin	$1,682,000	–	6,060	–	0.18%	–
PM	New	Philip Morris	$1,337,000	–	11,383	–	0.14%	–
MSFT	New	Microsoft	$1,202,000	–	17,442	–	0.13%	–
ERIE	New	Erie Indemnity Co	$1,209,000	–	9,665	–	0.13%	–
MRK	New	Merck	$1,178,000	–	18,384	–	0.12%	–
LYB	New	LyondellBasell Industries	$1,129,000	–	13,380	–	0.12%	–
ABBV	New	AbbVie	$989,000	–	13,645	–	0.10%	–
MGP	New	MGM Growth Properties	$960,000	–	32,875	–	0.10%	–
QCOM	New	Qualcomm	$906,000	–	16,400	–	0.10%	–
BA	New	Boeing	$827,000	–	4,180	–	0.09%	–
PRU	New	Prudential Financial	$804,000	–	7,435	–	0.08%	–
SBAC	New	SBA Communications	$791,000	–	5,862	–	0.08%	–
OMCL	New	Omnicell	$774,000	–	17,962	–	0.08%	–
PSX	New	Phillips 66	$775,000	–	9,370	–	0.08%	–
HXL	New	Hexcel	$780,000	–	14,775	–	0.08%	–
CHD	New	Church & Dwight	$755,000	–	14,545	–	0.08%	–
CPRT	New	Copart	$735,000	–	23,134	–	0.08%	–
JKHY	New	Jack Henry & Associates	$733,000	–	7,053	–	0.08%	–
AMG	New	Affiliated Managers Group	$680,000	–	4,098	–	0.07%	–
IPGP	New	IPG Photonics	$679,000	–	4,678	–	0.07%	–
OB	New	OneBeacon Insurance	$670,000	–	36,750	–	0.07%	–
MTD	New	Mettler Toledo	$611,000	–	1,039	–	0.06%	–
QLYS	New	Qualys	$589,000	–	14,444	–	0.06%	–
MIDD	New	Middleby	$588,000	–	4,840	–	0.06%	–
CRTO	New	Criteo	$586,000	–	11,941	–	0.06%	–
MANH	New	Manhattan Associates	$530,000	–	11,037	–	0.06%	–
GILD	New	Gilead Sciences	$521,000	–	7,358	–	0.06%	–
ESGR	New	Enstar Group	$514,000	–	2,588	–	0.05%	–
ICFI	New	ICFI International	$504,000	–	10,691	–	0.05%	–
NVR	New	NVR Inc.	$499,000	–	207	–	0.05%	–
GMAB	New	Genmab ADR	$495,000	–	4,633	–	0.05%	–
ABCO	New	Advisory Board	$493,000	–	9,579	–	0.05%	–
ANSS	New	Ansys	$484,000	–	3,977	–	0.05%	–
AZPN	New	Aspen Technology	$475,000	–	8,598	–	0.05%	–
DY	New	Dycom Industries	$476,000	–	5,313	–	0.05%	–
DNKN	New	Dunkin' Brands	$479,000	–	8,682	–	0.05%	–
RE	New	Everest Re Group	$466,000	–	1,831	–	0.05%	–
LH	New	LabCorp	$444,000	–	2,883	–	0.05%	–
CLB	New	Core Laboratories	$445,000	–	4,394	–	0.05%	–
HDS	New	HD Supply	$391,000	–	12,764	–	0.04%	–
CMDXF	New	Computer Modelling Group	$394,000	–	50,112	–	0.04%	–
HALO	New	Halozyme Therapeutics	$381,000	–	29,687	–	0.04%	–
NLSN	New	Nielsen Holdings	$364,000	–	9,422	–	0.04%	–
PAGP	New	Plains GP Holdings	$252,000	–	9,615	–	0.03%	–
JPM	New	JPMorgan Chase	$217,000	–	2,371	–	0.02%	–

Q4 2016

			Value		Shares		↓ Weighting
DIS	Exit	Walt Disney	$0	–	-2,374	–	-0.02%	–
KMI	Exit	Kinder Morgan	$0	–	-10,800	–	-0.03%	–
VZ	Exit	Verizon Communications	$0	–	-5,102	–	-0.03%	–
PAGP	Exit	Plains GP Holdings	$0	–	-22,850	–	-0.03%	–
LH	Exit	LabCorp	$0	–	-2,340	–	-0.04%	–
EPD	Exit	Enterprise Products Prtnrs	$0	–	-12,000	–	-0.04%	–
GSK	Exit	Glaxo Smith Kline	$0	–	-7,750	–	-0.04%	–
NLSN	Exit	Nielsen Holdings	$0	–	-6,630	–	-0.04%	–
SLB	Exit	Schlumberger	$0	–	-4,735	–	-0.04%	–
SO	Exit	Southern Co	$0	–	-7,500	–	-0.04%	–
PAA	Exit	Plains All Amer Pipeline LP	$0	–	-14,250	–	-0.05%	–
MGP	Exit	MGM Growth Properties	$0	–	-19,700	–	-0.06%	–
PSX	Exit	Phillips 66	$0	–	-6,325	–	-0.06%	–
CMI	Exit	Cummins	$0	–	-3,985	–	-0.06%	–
GM	Exit	General Motors	$0	–	-17,300	–	-0.06%	–
PRU	Exit	Prudential Financial	$0	–	-6,850	–	-0.06%	–
ABBV	Exit	AbbVie	$0	–	-9,050	–	-0.06%	–
SE	Exit	Spectra Energy	$0	–	-16,700	–	-0.08%	–
QCOM	Exit	Qualcomm	$0	–	-10,550	–	-0.08%	–
MSFT	Exit	Microsoft	$0	–	-13,425	–	-0.08%	–
LYB	Exit	LyondellBasell Industries	$0	–	-10,125	–	-0.09%	–
ERIE	Exit	Erie Indemnity Co	$0	–	-8,825	–	-0.10%	–
DUK	Exit	Duke Energy	$0	–	-12,991	–	-0.11%	–
PM	Exit	Philip Morris	$0	–	-11,968	–	-0.13%	–
MRK	Exit	Merck	$0	–	-21,034	–	-0.14%	–
LMT	Exit	Lockheed Martin	$0	–	-5,815	–	-0.15%	–
MDVN	Exit	Medivation	$0	–	-28,249	–	-0.25%	–
ANTM	Exit	Anthem Inc.	$0	–	-41,300	–	-0.57%	–
RSG	Exit	Republic Services, Inc.	$0	–	-139,443	–	-0.77%	–
UNH	Exit	UnitedHealth Group	$0	–	-56,483	–	-0.87%	–
TGNA	Exit	Tegna Inc.	$0	–	-362,293	–	-0.87%	–
CBI	Exit	Chicago Bridge & Iron Co	$0	–	-297,900	–	-0.92%	–
GCI	Exit	Gannett	$0	–	-719,700	–	-0.92%	–
HPQ	Exit	HP INC	$0	–	-572,000	–	-0.98%	–
BDX	Exit	Becton Dickinson	$0	–	-52,073	–	-1.03%	–
DOW	Exit	Dow Chemical	$0	–	-183,974	–	-1.05%	–
WU	Exit	Western Union	$0	–	-497,272	–	-1.14%	–
ETN	Exit	Eaton	$0	–	-172,978	–	-1.25%	–
WFC	Exit	Wells Fargo	$0	–	-264,398	–	-1.28%	–
VMW	Exit	VMWare INC	$0	–	-163,260	–	-1.31%	–
CB	Exit	Chubb Limited	$0	–	-96,962	–	-1.34%	–
HPE	Exit	Hewlett Packard Enterprise	$0	–	-550,605	–	-1.38%	–
SWK	Exit	Stanley Black & Decker Inc.	$0	–	-102,601	–	-1.38%	–
TUP	Exit	Tupperware Brands	$0	–	-195,770	–	-1.40%	–
AKAM	Exit	Akamai Technologies	$0	–	-242,483	–	-1.41%	–
MMC	Exit	Marsh & McLennan	$0	–	-191,211	–	-1.41%	–
BP	Exit	BP PLC	$0	–	-366,300	–	-1.41%	–
GILD	Exit	Gilead Sciences	$0	–	-166,772	–	-1.45%	–
GD	Exit	Genl Dynamics Corp	$0	–	-85,382	–	-1.45%	–
AXP	Exit	American Express	$0	–	-207,155	–	-1.46%	–
L	Exit	Loews	$0	–	-324,480	–	-1.46%	–
JNJ	Exit	Johnson & Johnson	$0	–	-113,258	–	-1.47%	–
NKE	Exit	Nike	$0	–	-261,849	–	-1.51%	–
INTC	Exit	Intel	$0	–	-381,206	–	-1.58%	–
IBM	Exit	Intl Business Machines	$0	–	-90,766	–	-1.58%	–
BAC	Exit	Bank of America	$0	–	-956,225	–	-1.64%	–
CSCO	Exit	Cisco Systems	$0	–	-480,052	–	-1.67%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-893,975	–	-1.68%	–
PX	Exit	Praxair	$0	–	-128,125	–	-1.70%	–
ALB	Exit	Albemarle	$0	–	-182,416	–	-1.71%	–
CERN	Exit	Cerner	$0	–	-260,600	–	-1.77%	–
GE	Exit	General Electric	$0	–	-547,701	–	-1.78%	–
INCY	Exit	Incyte	$0	–	-182,088	–	-1.88%	–
HBI	Exit	Hanesbrands	$0	–	-687,714	–	-1.90%	–
ADBE	Exit	Adobe Systems	$0	–	-161,740	–	-1.93%	–
UTX	Exit	United Technologies	$0	–	-173,236	–	-1.93%	–
EOG	Exit	EOG Resources	$0	–	-182,972	–	-1.94%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-194,892	–	-1.98%	–
BLK	Exit	BlackRock	$0	–	-50,083	–	-1.99%	–
ENB	Exit	Enbridge	$0	–	-413,141	–	-2.00%	–
VRSK	Exit	Verisk Analytics	$0	–	-225,134	–	-2.01%	–
T	Exit	AT&T	$0	–	-457,470	–	-2.04%	–
SCHW	Exit	Charles Schwab	$0	–	-610,165	–	-2.11%	–
APH	Exit	Amphenol	$0	–	-297,008	–	-2.12%	–
COO	Exit	Cooper Companies	$0	–	-109,467	–	-2.15%	–
DHR	Exit	Danaher	$0	–	-256,241	–	-2.20%	–
CL	Exit	Colgate-Palmolive	$0	–	-281,882	–	-2.29%	–
ACN	Exit	Accenture	$0	–	-173,775	–	-2.33%	–
LKQ	Exit	LKQ Corporation	$0	–	-604,527	–	-2.35%	–
AMT	Exit	American Tower	$0	–	-191,628	–	-2.38%	–
V	Exit	Visa	$0	–	-275,845	–	-2.50%	–
FISV	Exit	Fiserv	$0	–	-231,316	–	-2.52%	–
FB	Exit	Facebook Inc-A	$0	–	-187,162	–	-2.63%	–
AAPL	Exit	Apple	$0	–	-228,030	–	-2.83%	–
GOOGL	Exit	Alphabet Class A	$0	–	-38,435	–	-3.39%	–

Q3 2016

			Value		Shares		↓ Weighting
GOOGL	Sell	Alphabet Class A	$30,904,000	-36.6%	38,435	-44.5%	3.39%	-8.3%
AAPL	Sell	Apple	$25,779,000	-38.0%	228,030	-47.5%	2.83%	-10.3%
FB	Sell	Facebook Inc-A	$24,007,000	-38.0%	187,162	-44.7%	2.63%	-10.3%
FISV	Sell	Fiserv	$23,009,000	-49.8%	231,316	-45.1%	2.52%	-27.3%
V	Sell	Visa	$22,812,000	-37.9%	275,845	-44.3%	2.50%	-10.2%
AMT	Sell	American Tower	$21,717,000	-45.1%	191,628	-45.0%	2.38%	-20.6%
LKQ	Sell	LKQ Corporation	$21,437,000	-39.5%	604,527	-45.9%	2.35%	-12.5%
ACN	Sell	Accenture	$21,230,000	-40.8%	173,775	-45.1%	2.33%	-14.4%
CL	Sell	Colgate-Palmolive	$20,899,000	-43.6%	281,882	-44.3%	2.29%	-18.4%
DHR	Sell	Danaher	$20,087,000	-57.9%	256,241	-45.8%	2.20%	-39.2%
COO	Sell	Cooper Companies	$19,623,000	-42.1%	109,467	-44.6%	2.15%	-16.3%
APH	Sell	Amphenol	$19,282,000	-35.6%	297,008	-43.2%	2.12%	-6.9%
SCHW	Sell	Charles Schwab	$19,263,000	-30.4%	610,165	-44.2%	2.11%	+0.6%
T	Buy	AT&T	$18,578,000	-6.0%	457,470	+0.1%	2.04%	+36.0%
VRSK	Sell	Verisk Analytics	$18,299,000	-43.9%	225,134	-44.0%	2.01%	-18.8%
ENB	Sell	Enbridge	$18,273,000	-43.0%	413,141	-45.5%	2.00%	-17.6%
BLK	Sell	BlackRock	$18,153,000	-42.1%	50,083	-45.3%	1.99%	-16.3%
BMRN	Sell	BioMarin Pharmaceuticals	$18,031,000	-36.4%	194,892	-46.5%	1.98%	-8.0%
EOG	Sell	EOG Resources	$17,695,000	-36.2%	182,972	-45.0%	1.94%	-7.7%
UTX	Sell	United Technologies	$17,601,000	-44.3%	173,236	-43.7%	1.93%	-19.4%
ADBE	Sell	Adobe Systems	$17,555,000	-37.1%	161,740	-44.5%	1.93%	-9.1%
HBI	Sell	Hanesbrands	$17,365,000	-28.2%	687,714	-28.5%	1.90%	+3.9%
INCY	Sell	Incyte	$17,169,000	-22.7%	182,088	-34.4%	1.88%	+11.8%
GE	Buy	General Electric	$16,223,000	-5.9%	547,701	+0.0%	1.78%	+36.1%
CERN	New	Cerner	$16,092,000	–	260,600	–	1.77%	–
ALB	New	Albemarle	$15,595,000	–	182,416	–	1.71%	–
PX	Sell	Praxair	$15,481,000	-39.8%	128,125	-44.0%	1.70%	-13.0%
BWP	Buy	Boardwalk Pipeline Partners	$15,341,000	-1.6%	893,975	+0.0%	1.68%	+42.1%
CSCO	Buy	Cisco Systems	$15,227,000	+10.6%	480,052	+0.0%	1.67%	+59.9%
BAC	Buy	Bank of America	$14,965,000	+18.0%	956,225	+0.0%	1.64%	+70.5%
IBM	Buy	Intl Business Machines	$14,418,000	+4.7%	90,766	+0.0%	1.58%	+51.4%
INTC	Buy	Intel	$14,391,000	+15.1%	381,206	+0.0%	1.58%	+66.4%
NKE	Sell	Nike	$13,786,000	-47.1%	261,849	-44.5%	1.51%	-23.5%
JNJ	Sell	Johnson & Johnson	$13,379,000	-3.0%	113,258	-0.4%	1.47%	+40.2%
L	Buy	Loews	$13,352,000	+0.2%	324,480	+0.0%	1.46%	+44.8%
AXP	Buy	American Express	$13,266,000	+6.0%	207,155	+0.6%	1.46%	+53.4%
GD	Buy	Genl Dynamics Corp	$13,248,000	+11.4%	85,382	+0.0%	1.45%	+61.2%
GILD	Sell	Gilead Sciences	$13,195,000	-46.8%	166,772	-43.9%	1.45%	-23.1%
BP	Buy	BP PLC	$12,879,000	-1.0%	366,300	+0.0%	1.41%	+43.2%
MMC	Buy	Marsh & McLennan	$12,859,000	-1.7%	191,211	+0.0%	1.41%	+42.1%
AKAM	Sell	Akamai Technologies	$12,849,000	-48.3%	242,483	-45.4%	1.41%	-25.2%
TUP	Buy	Tupperware Brands	$12,797,000	+16.2%	195,770	+0.0%	1.40%	+67.9%
SWK	Sell	Stanley Black & Decker Inc.	$12,618,000	+10.5%	102,601	-0.1%	1.38%	+59.7%
HPE	Buy	Hewlett Packard Enterprise	$12,526,000	+24.5%	550,605	+0.0%	1.38%	+80.2%
CB	Buy	Chubb Limited	$12,183,000	-3.9%	96,962	+0.0%	1.34%	+39.1%
WFC	Buy	Wells Fargo	$11,708,000	-6.4%	264,398	+0.0%	1.28%	+35.4%
ETN	Buy	Eaton	$11,366,000	+10.0%	172,978	+0.0%	1.25%	+59.1%
WU	Buy	Western Union	$10,353,000	+8.6%	497,272	+0.0%	1.14%	+56.9%
DOW	Buy	Dow Chemical	$9,535,000	+4.3%	183,974	+0.0%	1.05%	+50.7%
BDX	Sell	Becton Dickinson	$9,359,000	+5.8%	52,073	-0.1%	1.03%	+53.1%
TGNA	Buy	Tegna Inc.	$7,920,000	-5.5%	362,293	+0.1%	0.87%	+36.6%
UNH	Buy	UnitedHealth Group	$7,908,000	-0.8%	56,483	+0.0%	0.87%	+43.5%
RSG	Sell	Republic Services, Inc.	$7,035,000	-1.7%	139,443	-0.1%	0.77%	+42.2%
MDVN	Sell	Medivation	$2,299,000	-93.5%	28,249	-95.2%	0.25%	-90.6%
MRK	Buy	Merck	$1,313,000	+11.3%	21,034	+2.7%	0.14%	+60.0%
PM	Buy	Philip Morris	$1,164,000	-1.5%	11,968	+3.0%	0.13%	+42.2%
DUK	Sell	Duke Energy	$1,040,000	-6.9%	12,991	-0.2%	0.11%	+34.1%
ERIE	Buy	Erie Indemnity Co	$901,000	+4.5%	8,825	+1.7%	0.10%	+52.3%
LYB	Buy	LyondellBasell Industries	$817,000	+11.2%	10,125	+2.5%	0.09%	+60.7%
MSFT	Buy	Microsoft	$773,000	+14.7%	13,425	+1.9%	0.08%	+66.7%
QCOM	Buy	Qualcomm	$723,000	+31.0%	10,550	+2.4%	0.08%	+88.1%
PRU	New	Prudential Financial	$559,000	–	6,850	–	0.06%	–
GM	New	General Motors	$550,000	–	17,300	–	0.06%	–
CMI	Buy	Cummins	$511,000	+20.0%	3,985	+5.3%	0.06%	+75.0%
MGP	New	MGM Growth Properties	$514,000	–	19,700	–	0.06%	–
PSX	Buy	Phillips 66	$509,000	+7.4%	6,325	+5.9%	0.06%	+55.6%
NLSN	Buy	Nielsen Holdings	$355,000	+68.2%	6,630	+63.3%	0.04%	+143.8%
LH	New	LabCorp	$322,000	–	2,340	–	0.04%	–
PAGP	Sell	Plains GP Holdings	$296,000	+3.1%	22,850	-16.8%	0.03%	+45.5%
CHD	Exit	Church & Dwight	$0	–	-2,002	–	-0.02%	–
SYY	Exit	Sysco	$0	–	-6,652	–	-0.03%	–
EMC	Exit	E M C Corporation	$0	–	-524,759	–	-1.08%	–
VFC	Exit	VF Corp	$0	–	-412,386	–	-1.92%	–
SRCL	Exit	Stericycle	$0	–	-260,438	–	-2.06%	–

Q2 2016

			Value		Shares		↓ Weighting
GOOGL	New	Alphabet Class A	$48,741,000	–	69,280	–	3.70%	–
DHR	New	Danaher	$47,761,000	–	472,880	–	3.62%	–
FISV	New	Fiserv	$45,797,000	–	421,196	–	3.48%	–
AAPL	New	Apple	$41,554,000	–	434,666	–	3.15%	–
AMT	New	American Tower	$39,557,000	–	348,178	–	3.00%	–
FB	New	Facebook Inc-A	$38,708,000	–	338,714	–	2.94%	–
CL	New	Colgate-Palmolive	$37,024,000	–	505,787	–	2.81%	–
V	New	Visa	$36,715,000	–	495,007	–	2.79%	–
ACN	New	Accenture	$35,874,000	–	316,660	–	2.72%	–
MDVN	New	Medivation	$35,445,000	–	587,807	–	2.69%	–
LKQ	New	LKQ Corporation	$35,413,000	–	1,117,121	–	2.69%	–
COO	New	Cooper Companies	$33,910,000	–	197,644	–	2.57%	–
VRSK	New	Verisk Analytics	$32,610,000	–	402,201	–	2.47%	–
ENB	New	Enbridge	$32,082,000	–	757,372	–	2.43%	–
UTX	New	United Technologies	$31,579,000	–	307,939	–	2.40%	–
BLK	New	BlackRock	$31,358,000	–	91,549	–	2.38%	–
APH	New	Amphenol	$29,964,000	–	522,659	–	2.27%	–
BMRN	New	BioMarin Pharmaceuticals	$28,333,000	–	364,180	–	2.15%	–
ADBE	New	Adobe Systems	$27,917,000	–	291,442	–	2.12%	–
EOG	New	EOG Resources	$27,742,000	–	332,564	–	2.10%	–
SCHW	New	Charles Schwab	$27,687,000	–	1,093,920	–	2.10%	–
SRCL	New	Stericycle	$27,117,000	–	260,438	–	2.06%	–
NKE	New	Nike	$26,052,000	–	471,952	–	1.98%	–
PX	New	Praxair	$25,735,000	–	228,980	–	1.95%	–
VFC	New	VF Corp	$25,358,000	–	412,386	–	1.92%	–
AKAM	New	Akamai Technologies	$24,853,000	–	444,362	–	1.89%	–
GILD	New	Gilead Sciences	$24,802,000	–	297,317	–	1.88%	–
HBI	New	Hanesbrands	$24,169,000	–	961,777	–	1.83%	–
INCY	New	Incyte	$22,205,000	–	277,627	–	1.68%	–
T	New	AT&T	$19,757,000	–	457,225	–	1.50%	–
GE	New	General Electric	$17,238,000	–	547,596	–	1.31%	–
BWP	New	Boardwalk Pipeline Partners	$15,598,000	–	893,895	–	1.18%	–
EMC	New	E M C Corporation	$14,258,000	–	524,759	–	1.08%	–
JNJ	New	Johnson & Johnson	$13,799,000	–	113,758	–	1.05%	–
IBM	New	Intl Business Machines	$13,774,000	–	90,751	–	1.04%	–
CSCO	New	Cisco Systems	$13,771,000	–	480,002	–	1.04%	–
L	New	Loews	$13,331,000	–	324,435	–	1.01%	–
MMC	New	Marsh & McLennan	$13,088,000	–	191,181	–	0.99%	–
BP	New	BP PLC	$13,004,000	–	366,220	–	0.99%	–
BAC	New	Bank of America	$12,687,000	–	956,100	–	0.96%	–
CB	New	Chubb Limited	$12,671,000	–	96,942	–	0.96%	–
INTC	New	Intel	$12,502,000	–	381,171	–	0.95%	–
AXP	New	American Express	$12,510,000	–	205,900	–	0.95%	–
WFC	New	Wells Fargo	$12,510,000	–	264,323	–	0.95%	–
GD	New	Genl Dynamics Corp	$11,887,000	–	85,367	–	0.90%	–
SWK	New	Stanley Black & Decker Inc.	$11,420,000	–	102,681	–	0.87%	–
TUP	New	Tupperware Brands	$11,017,000	–	195,745	–	0.84%	–
ETN	New	Eaton	$10,330,000	–	172,938	–	0.78%	–
CBI	New	Chicago Bridge & Iron Co	$10,316,000	–	297,900	–	0.78%	–
HPE	New	Hewlett Packard Enterprise	$10,059,000	–	550,565	–	0.76%	–
GCI	New	Gannett	$9,939,000	–	719,700	–	0.75%	–
WU	New	Western Union	$9,536,000	–	497,187	–	0.72%	–
VMW	New	VMWare INC	$9,342,000	–	163,260	–	0.71%	–
DOW	New	Dow Chemical	$9,143,000	–	183,929	–	0.69%	–
BDX	New	Becton Dickinson	$8,842,000	–	52,138	–	0.67%	–
TGNA	New	Tegna Inc.	$8,382,000	–	361,753	–	0.64%	–
UNH	New	UnitedHealth Group	$7,973,000	–	56,468	–	0.60%	–
HPQ	New	HP INC	$7,179,000	–	572,000	–	0.54%	–
RSG	New	Republic Services, Inc.	$7,158,000	–	139,513	–	0.54%	–
ANTM	New	Anthem Inc.	$5,424,000	–	41,300	–	0.41%	–
LMT	New	Lockheed Martin	$1,443,000	–	5,815	–	0.11%	–
MRK	New	Merck	$1,180,000	–	20,484	–	0.09%	–
PM	New	Philip Morris	$1,182,000	–	11,618	–	0.09%	–
DUK	New	Duke Energy	$1,117,000	–	13,016	–	0.08%	–
ERIE	New	Erie Indemnity Co	$862,000	–	8,675	–	0.06%	–
LYB	New	LyondellBasell Industries	$735,000	–	9,875	–	0.06%	–
MSFT	New	Microsoft	$674,000	–	13,175	–	0.05%	–
SE	New	Spectra Energy	$612,000	–	16,700	–	0.05%	–
ABBV	New	AbbVie	$560,000	–	9,050	–	0.04%	–
QCOM	New	Qualcomm	$552,000	–	10,300	–	0.04%	–
PSX	New	Phillips 66	$474,000	–	5,975	–	0.04%	–
CMI	New	Cummins	$426,000	–	3,785	–	0.03%	–
SO	New	Southern Co	$402,000	–	7,500	–	0.03%	–
PAA	New	Plains All Amer Pipeline LP	$392,000	–	14,250	–	0.03%	–
SLB	New	Schlumberger	$374,000	–	4,735	–	0.03%	–
EPD	New	Enterprise Products Prtnrs	$351,000	–	12,000	–	0.03%	–
SYY	New	Sysco	$338,000	–	6,652	–	0.03%	–
GSK	New	Glaxo Smith Kline	$336,000	–	7,750	–	0.02%	–
VZ	New	Verizon Communications	$285,000	–	5,102	–	0.02%	–
PAGP	New	Plains GP Holdings	$287,000	–	27,475	–	0.02%	–
DIS	New	Walt Disney	$232,000	–	2,374	–	0.02%	–
CHD	New	Church & Dwight	$206,000	–	2,002	–	0.02%	–
NLSN	New	Nielsen Holdings	$211,000	–	4,060	–	0.02%	–
KMI	New	Kinder Morgan	$202,000	–	10,800	–	0.02%	–

Q4 2015

			Value		Shares		↓ Weighting
CHD	Exit	Church & Dwight	$0	–	-2,420	–	-0.02%	–
DIS	Exit	Walt Disney	$0	–	-3,538	–	-0.03%	–
CHK	Exit	Chesapeake Energy Corp	$0	–	-631,031	–	-0.34%	–
BAX	Exit	Baxter International	$0	–	-150,450	–	-0.36%	–
ANTM	Exit	Anthem Inc.	$0	–	-42,236	–	-0.43%	–
UNH	Exit	UnitedHealth Group	$0	–	-55,028	–	-0.47%	–
CBI	Exit	Chicago Bridge & Iron Co	$0	–	-181,280	–	-0.53%	–
BP	Exit	BP PLC	$0	–	-252,035	–	-0.57%	–
TGNA	Exit	Tegna Inc.	$0	–	-354,273	–	-0.58%	–
TUP	Exit	Tupperware Brands	$0	–	-165,556	–	-0.60%	–
ETN	Exit	Eaton	$0	–	-171,678	–	-0.65%	–
WU	Exit	Western Union	$0	–	-490,897	–	-0.66%	–
AXP	Exit	American Express	$0	–	-122,820	–	-0.67%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-799,918	–	-0.69%	–
BDX	Exit	Becton Dickinson	$0	–	-73,668	–	-0.72%	–
MMC	Exit	Marsh & McLennan	$0	–	-189,011	–	-0.72%	–
DOW	Exit	Dow Chemical	$0	–	-241,488	–	-0.75%	–
HPQ	Exit	Hewlett Packard	$0	–	-404,401	–	-0.76%	–
JNJ	Exit	Johnson & Johnson	$0	–	-113,198	–	-0.78%	–
DD	Exit	Dupont (EI) deNemours	$0	–	-222,992	–	-0.79%	–
GCI	Exit	Gannett	$0	–	-735,374	–	-0.80%	–
BAC	Exit	Bank of America	$0	–	-698,065	–	-0.80%	–
INTC	Exit	Intel	$0	–	-378,121	–	-0.84%	–
RSG	Exit	Republic Services, Inc.	$0	–	-276,948	–	-0.84%	–
GD	Exit	Genl Dynamics Corp	$0	–	-84,457	–	-0.86%	–
L	Exit	Loews	$0	–	-323,841	–	-0.86%	–
SYY	Exit	Sysco	$0	–	-307,912	–	-0.88%	–
SWK	Exit	Stanley Black & Decker Inc.	$0	–	-126,856	–	-0.90%	–
CSCO	Exit	Cisco Systems	$0	–	-479,722	–	-0.92%	–
EMC	Exit	E M C Corporation	$0	–	-521,789	–	-0.93%	–
IBM	Exit	Intl Business Machines	$0	–	-90,111	–	-0.96%	–
WFC	Exit	Wells Fargo	$0	–	-260,829	–	-0.98%	–
GE	Exit	General Electric	$0	–	-542,827	–	-1.00%	–
T	Exit	AT&T	$0	–	-420,769	–	-1.01%	–
CB	Exit	Chubb	$0	–	-125,076	–	-1.13%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-227,845	–	-1.76%	–
WFM	Exit	Whole Foods Mkt	$0	–	-768,925	–	-1.79%	–
EOG	Exit	EOG Resources	$0	–	-336,886	–	-1.80%	–
SRCL	Exit	Stericycle	$0	–	-201,425	–	-2.06%	–
PX	Exit	Praxair	$0	–	-295,267	–	-2.21%	–
COG	Exit	Cabot Oil & Gas	$0	–	-1,376,160	–	-2.21%	–
ENB	Exit	Enbridge	$0	–	-821,775	–	-2.24%	–
COO	Exit	Cooper Companies	$0	–	-216,545	–	-2.37%	–
UTX	Exit	United Technologies	$0	–	-365,471	–	-2.39%	–
ADBE	Exit	Adobe Systems	$0	–	-401,220	–	-2.42%	–
GILD	Exit	Gilead Sciences	$0	–	-342,574	–	-2.47%	–
MDVN	Exit	Medivation	$0	–	-797,015	–	-2.49%	–
APH	Exit	Amphenol	$0	–	-667,124	–	-2.50%	–
AMT	Exit	American Tower	$0	–	-400,366	–	-2.59%	–
LKQ	Exit	LKQ Corporation	$0	–	-1,264,500	–	-2.63%	–
AKAM	Exit	Akamai Technologies	$0	–	-529,855	–	-2.69%	–
VRSK	Exit	Verisk Analytics	$0	–	-510,222	–	-2.77%	–
BLK	Exit	BlackRock	$0	–	-128,028	–	-2.80%	–
NKE	Exit	Nike	$0	–	-311,198	–	-2.81%	–
VFC	Exit	VF Corp	$0	–	-575,780	–	-2.88%	–
CL	Exit	Colgate-Palmolive	$0	–	-635,967	–	-2.96%	–
ACN	Exit	Accenture	$0	–	-421,031	–	-3.04%	–
ESRX	Exit	Express Scripts	$0	–	-543,331	–	-3.23%	–
V	Exit	Visa	$0	–	-649,350	–	-3.32%	–
GOOGL	Exit	Alphabet Class A	$0	–	-74,263	–	-3.48%	–
DHR	Exit	Danaher	$0	–	-564,774	–	-3.54%	–
FISV	Exit	Fiserv	$0	–	-571,840	–	-3.64%	–
AAPL	Exit	Apple	$0	–	-505,504	–	-4.10%	–

Q3 2015

			Value		Shares		↓ Weighting
AAPL	Buy	Apple	$55,757,000	-11.8%	505,504	+0.3%	4.10%	-0.3%
FISV	Sell	Fiserv	$49,527,000	-9.8%	571,840	-13.8%	3.64%	+1.9%
DHR	Sell	Danaher	$48,124,000	-7.7%	564,774	-7.3%	3.54%	+4.4%
GOOGL	New	Alphabet Class A	$47,407,000	–	74,263	–	3.48%	–
V	Sell	Visa	$45,234,000	-12.3%	649,350	-15.5%	3.32%	-0.9%
ESRX	Buy	Express Scripts	$43,988,000	-6.3%	543,331	+2.9%	3.23%	+5.9%
ACN	Sell	Accenture	$41,371,000	-10.4%	421,031	-11.7%	3.04%	+1.3%
CL	Sell	Colgate-Palmolive	$40,358,000	-7.1%	635,967	-4.2%	2.96%	+5.1%
VFC	Sell	VF Corp	$39,274,000	-11.6%	575,780	-9.6%	2.88%	-0.0%
NKE	Sell	Nike	$38,268,000	-9.2%	311,198	-20.3%	2.81%	+2.7%
BLK	Buy	BlackRock	$38,084,000	-12.4%	128,028	+1.9%	2.80%	-1.0%
VRSK	Sell	Verisk Analytics	$37,711,000	+0.6%	510,222	-0.9%	2.77%	+13.8%
AKAM	Sell	Akamai Technologies	$36,592,000	-2.3%	529,855	-1.2%	2.69%	+10.5%
LKQ	Sell	LKQ Corporation	$35,861,000	-11.6%	1,264,500	-5.8%	2.63%	-0.1%
AMT	Sell	American Tower	$35,224,000	-6.4%	400,366	-0.7%	2.59%	+5.9%
APH	Buy	Amphenol	$33,997,000	-11.8%	667,124	+0.3%	2.50%	-0.3%
MDVN	Buy	Medivation	$33,873,000	+7.1%	797,015	+187.7%	2.49%	+21.1%
GILD	Sell	Gilead Sciences	$33,637,000	-20.9%	342,574	-5.7%	2.47%	-10.6%
ADBE	Buy	Adobe Systems	$32,988,000	+15.1%	401,220	+13.4%	2.42%	+30.2%
UTX	Sell	United Technologies	$32,523,000	-33.8%	365,471	-17.5%	2.39%	-25.2%
COO	Buy	Cooper Companies	$32,235,000	-16.1%	216,545	+0.3%	2.37%	-5.2%
ENB	Buy	Enbridge	$30,513,000	-20.4%	821,775	+0.3%	2.24%	-10.0%
PX	Sell	Praxair	$30,076,000	-21.5%	295,267	-7.9%	2.21%	-11.2%
COG	Buy	Cabot Oil & Gas	$30,083,000	-30.6%	1,376,160	+0.1%	2.21%	-21.6%
SRCL	New	Stericycle	$28,061,000	–	201,425	–	2.06%	–
EOG	Sell	EOG Resources	$24,525,000	-22.1%	336,886	-6.3%	1.80%	-12.0%
WFM	New	Whole Foods Mkt	$24,336,000	–	768,925	–	1.79%	–
BMRN	Sell	BioMarin Pharmaceuticals	$23,997,000	-23.8%	227,845	-1.0%	1.76%	-13.8%
T	Buy	AT&T	$13,709,000	+11.6%	420,769	+21.7%	1.01%	+26.2%
CSCO	Buy	Cisco Systems	$12,593,000	-4.2%	479,722	+0.2%	0.92%	+8.3%
GD	Sell	Genl Dynamics Corp	$11,651,000	-2.9%	84,457	-0.3%	0.86%	+9.7%
RSG	Buy	Republic Services, Inc.	$11,410,000	+5.5%	276,948	+0.3%	0.84%	+19.2%
INTC	Buy	Intel	$11,397,000	-0.7%	378,121	+0.2%	0.84%	+12.3%
GCI	Buy	Gannett	$10,832,000	+337.1%	735,374	+315.2%	0.80%	+394.4%
DD	Buy	Dupont (EI) deNemours	$10,748,000	+13.4%	222,992	+50.4%	0.79%	+28.1%
JNJ	Sell	Johnson & Johnson	$10,567,000	-5.3%	113,198	-1.2%	0.78%	+7.0%
MMC	Buy	Marsh & McLennan	$9,870,000	-7.5%	189,011	+0.5%	0.72%	+4.6%
AXP	Sell	American Express	$9,105,000	-4.9%	122,820	-0.3%	0.67%	+7.6%
ETN	Buy	Eaton	$8,807,000	-23.7%	171,678	+0.3%	0.65%	-13.7%
TUP	Sell	Tupperware Brands	$8,193,000	-23.4%	165,556	-0.1%	0.60%	-13.4%
BP	Buy	BP PLC	$7,702,000	+14.2%	252,035	+49.3%	0.57%	+29.2%
CHK	Sell	Chesapeake Energy Corp	$4,625,000	-34.6%	631,031	-0.4%	0.34%	-26.1%
DIS	Sell	Walt Disney	$362,000	-14.2%	3,538	-4.2%	0.03%	0.0%
CHD	New	Church & Dwight	$203,000	–	2,420	–	0.02%	–
JPM	Exit	JPMorgan Chase	$0	–	-3,036	–	-0.01%	–
BMY	Exit	Bristol Myers Squibb	$0	–	-3,222	–	-0.01%	–
A309PS	Exit	DirecTV	$0	–	-122,807	–	-0.74%	–
FMC	Exit	FMC Corp	$0	–	-674,008	–	-2.30%	–
CMI	Exit	Cummins	$0	–	-276,849	–	-2.36%	–
GOOGL	Exit	Google Class A	$0	–	-80,190	–	-2.81%	–

Q2 2015

			Value		Shares		↓ Weighting
AAPL	New	Apple	$63,216,000	–	504,014	–	4.11%	–
FISV	New	Fiserv	$54,933,000	–	663,205	–	3.57%	–
DHR	New	Danaher	$52,126,000	–	609,024	–	3.39%	–
V	New	Visa	$51,598,000	–	768,400	–	3.35%	–
UTX	New	United Technologies	$49,148,000	–	443,051	–	3.19%	–
ESRX	New	Express Scripts	$46,947,000	–	527,846	–	3.05%	–
ACN	New	Accenture	$46,165,000	–	477,006	–	3.00%	–
VFC	New	VF Corp	$44,423,000	–	636,980	–	2.89%	–
BLK	New	BlackRock	$43,477,000	–	125,662	–	2.82%	–
CL	New	Colgate-Palmolive	$43,432,000	–	663,997	–	2.82%	–
COG	New	Cabot Oil & Gas	$43,372,000	–	1,375,130	–	2.82%	–
GOOGL	New	Google Class A	$43,306,000	–	80,190	–	2.81%	–
GILD	New	Gilead Sciences	$42,544,000	–	363,379	–	2.76%	–
NKE	New	Nike	$42,151,000	–	390,218	–	2.74%	–
LKQ	New	LKQ Corporation	$40,583,000	–	1,341,795	–	2.64%	–
APH	New	Amphenol	$38,555,000	–	665,094	–	2.50%	–
COO	New	Cooper Companies	$38,432,000	–	215,945	–	2.50%	–
ENB	New	Enbridge	$38,334,000	–	819,280	–	2.49%	–
PX	New	Praxair	$38,319,000	–	320,527	–	2.49%	–
AMT	New	American Tower	$37,624,000	–	403,306	–	2.44%	–
VRSK	New	Verisk Analytics	$37,468,000	–	514,952	–	2.43%	–
AKAM	New	Akamai Technologies	$37,442,000	–	536,270	–	2.43%	–
CMI	New	Cummins	$36,320,000	–	276,849	–	2.36%	–
FMC	New	FMC Corp	$35,419,000	–	674,008	–	2.30%	–
MDVN	New	Medivation	$31,640,000	–	277,060	–	2.06%	–
EOG	New	EOG Resources	$31,491,000	–	359,691	–	2.05%	–
BMRN	New	BioMarin Pharmaceuticals	$31,486,000	–	230,195	–	2.04%	–
ADBE	New	Adobe Systems	$28,652,000	–	353,690	–	1.86%	–
WFC	New	Wells Fargo	$14,669,000	–	260,829	–	0.95%	–
IBM	New	Intl Business Machines	$14,657,000	–	90,111	–	0.95%	–
GE	New	General Electric	$14,423,000	–	542,827	–	0.94%	–
EMC	New	E M C Corporation	$13,770,000	–	521,789	–	0.90%	–
SWK	New	Stanley Black & Decker Inc.	$13,350,000	–	126,856	–	0.87%	–
CSCO	New	Cisco Systems	$13,148,000	–	478,822	–	0.85%	–
L	New	Loews	$12,471,000	–	323,841	–	0.81%	–
DOW	New	Dow Chemical	$12,357,000	–	241,488	–	0.80%	–
T	New	AT&T	$12,279,000	–	345,693	–	0.80%	–
HPQ	New	Hewlett Packard	$12,136,000	–	404,401	–	0.79%	–
GD	New	Genl Dynamics Corp	$12,001,000	–	84,697	–	0.78%	–
CB	New	Chubb	$11,900,000	–	125,076	–	0.77%	–
BAC	New	Bank of America	$11,881,000	–	698,065	–	0.77%	–
BWP	New	Boardwalk Pipeline Partners	$11,615,000	–	799,918	–	0.76%	–
ETN	New	Eaton	$11,549,000	–	171,118	–	0.75%	–
INTC	New	Intel	$11,474,000	–	377,251	–	0.74%	–
A309PS	New	DirecTV	$11,395,000	–	122,807	–	0.74%	–
TGNA	New	Tegna Inc.	$11,362,000	–	354,273	–	0.74%	–
JNJ	New	Johnson & Johnson	$11,161,000	–	114,518	–	0.72%	–
SYY	New	Sysco	$11,116,000	–	307,912	–	0.72%	–
RSG	New	Republic Services, Inc.	$10,814,000	–	276,068	–	0.70%	–
TUP	New	Tupperware Brands	$10,693,000	–	165,681	–	0.70%	–
MMC	New	Marsh & McLennan	$10,668,000	–	188,141	–	0.69%	–
BAX	New	Baxter International	$10,521,000	–	150,450	–	0.68%	–
BDX	New	Becton Dickinson	$10,435,000	–	73,668	–	0.68%	–
WU	New	Western Union	$9,980,000	–	490,897	–	0.65%	–
AXP	New	American Express	$9,577,000	–	123,220	–	0.62%	–
DD	New	Dupont (EI) deNemours	$9,479,000	–	148,222	–	0.62%	–
CBI	New	Chicago Bridge & Iron Co	$9,071,000	–	181,280	–	0.59%	–
CHK	New	Chesapeake Energy Corp	$7,077,000	–	633,551	–	0.46%	–
ANTM	New	Anthem Inc.	$6,933,000	–	42,236	–	0.45%	–
BP	New	BP PLC	$6,745,000	–	168,785	–	0.44%	–
UNH	New	UnitedHealth Group	$6,713,000	–	55,028	–	0.44%	–
GCI	New	Gannett spin-W/I	$2,478,000	–	177,129	–	0.16%	–
DIS	New	Walt Disney	$422,000	–	3,693	–	0.03%	–
BMY	New	Bristol Myers Squibb	$214,000	–	3,222	–	0.01%	–
JPM	New	JPMorgan Chase	$206,000	–	3,036	–	0.01%	–

Q4 2014

			Value		Shares		↓ Weighting
CPRT	Exit	Copart	$0	–	-6,620	–	-0.02%	–
CMDXF	Exit	Computer Modelling Group	$0	–	-20,450	–	-0.02%	–
JKHY	Exit	Jack Henry & Associates	$0	–	-4,035	–	-0.02%	–
CTRX	Exit	Catamaran Corp	$0	–	-5,310	–	-0.02%	–
FLS	Exit	Flowserve	$0	–	-3,080	–	-0.02%	–
	Exit	Canadian Energy Service	$0	–	-26,235	–	-0.02%	–
QLYS	Exit	Qualys	$0	–	-8,630	–	-0.02%	–
CVX	Exit	Chevron	$0	–	-1,950	–	-0.02%	–
HXL	Exit	Hexcel	$0	–	-5,785	–	-0.02%	–
FEIC	Exit	FEI Company	$0	–	-3,255	–	-0.02%	–
MIDD	Exit	Middleby	$0	–	-2,685	–	-0.02%	–
MDVN	Exit	Medivation	$0	–	-2,810	–	-0.02%	–
CHD	Exit	Church & Dwight	$0	–	-3,940	–	-0.02%	–
AMG	Exit	Affiliated Managers Group	$0	–	-1,385	–	-0.02%	–
PWR	Exit	Quanta Services	$0	–	-7,590	–	-0.02%	–
ITC	Exit	ITC Holdings	$0	–	-7,610	–	-0.02%	–
SBAC	Exit	SBA Communications	$0	–	-2,760	–	-0.03%	–
GSK	Exit	Glaxo Smith Kline	$0	–	-7,750	–	-0.03%	–
ERIE	Exit	Erie Indemnity Co	$0	–	-4,850	–	-0.03%	–
XL	Exit	XL Group	$0	–	-11,850	–	-0.04%	–
KMI	Exit	Kinder Morgan	$0	–	-11,500	–	-0.04%	–
4945SC	Exit	Kinder Morgan Energy LP	$0	–	-5,000	–	-0.04%	–
MRK	Exit	Merck	$0	–	-8,575	–	-0.05%	–
PAA	Exit	Plains All Amer Pipeline LP	$0	–	-10,000	–	-0.05%	–
SLB	Exit	Schlumberger	$0	–	-5,872	–	-0.05%	–
DUK	Exit	Duke Energy	$0	–	-8,800	–	-0.06%	–
COP	Exit	ConocoPhillips	$0	–	-9,900	–	-0.07%	–
EPD	Exit	Enterprise Products Prtnrs	$0	–	-20,000	–	-0.07%	–
LMT	Exit	Lockheed Martin	$0	–	-5,875	–	-0.10%	–
CHK	Exit	Chesapeake Energy Corp	$0	–	-346,700	–	-0.72%	–
TUP	Exit	Tupperware Brands	$0	–	-120,195	–	-0.75%	–
MMC	Exit	Marsh & McLennan	$0	–	-184,318	–	-0.88%	–
UNH	Exit	UnitedHealth Group	$0	–	-119,600	–	-0.94%	–
DD	Exit	Dupont (EI) deNemours	$0	–	-144,500	–	-0.94%	–
A309PS	Exit	DirecTV	$0	–	-120,200	–	-0.94%	–
AXP	Exit	American Express	$0	–	-119,284	–	-0.95%	–
BDX	Exit	Becton Dickinson	$0	–	-92,500	–	-0.96%	–
RSG	Exit	Republic Services, Inc.	$0	–	-270,000	–	-0.96%	–
ETN	Exit	Eaton	$0	–	-167,050	–	-0.96%	–
TGT	Exit	Target	$0	–	-171,500	–	-0.98%	–
SWK	Exit	Stanley Black & Decker Inc.	$0	–	-123,900	–	-1.00%	–
IBM	Exit	Intl Business Machines	$0	–	-58,950	–	-1.02%	–
CSCO	Exit	Cisco Systems	$0	–	-467,000	–	-1.07%	–
JNJ	Exit	Johnson & Johnson	$0	–	-111,724	–	-1.08%	–
V107SC	Exit	Wellpoint Hlth Ntwk	$0	–	-100,500	–	-1.09%	–
DOW	Exit	Dow Chemical	$0	–	-235,600	–	-1.12%	–
T	Exit	AT&T	$0	–	-353,900	–	-1.13%	–
WU	Exit	Western Union	$0	–	-780,650	–	-1.14%	–
GCI	Exit	Gannett	$0	–	-425,700	–	-1.15%	–
GD	Exit	Genl Dynamics Corp	$0	–	-99,600	–	-1.15%	–
INTC	Exit	Intel	$0	–	-367,900	–	-1.16%	–
CB	Exit	Chubb	$0	–	-142,300	–	-1.18%	–
L	Exit	Loews	$0	–	-315,500	–	-1.19%	–
GE	Exit	General Electric	$0	–	-531,167	–	-1.24%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-779,800	–	-1.32%	–
VRSK	Exit	Verisk Analytics	$0	–	-239,835	–	-1.33%	–
SYY	Exit	Sysco	$0	–	-387,100	–	-1.33%	–
EMC	Exit	E M C Corporation	$0	–	-509,900	–	-1.35%	–
ADBE	Exit	Adobe Systems	$0	–	-218,566	–	-1.37%	–
HPQ	Exit	Hewlett Packard	$0	–	-448,100	–	-1.44%	–
WFC	Exit	Wells Fargo	$0	–	-345,200	–	-1.63%	–
ORCL	Exit	Oracle	$0	–	-469,253	–	-1.63%	–
CLB	Exit	Core Laboratories	$0	–	-126,373	–	-1.68%	–
BLK	Exit	Blackrock	$0	–	-57,882	–	-1.72%	–
COO	Exit	Cooper Companies	$0	–	-123,510	–	-1.75%	–
FMC	Exit	FMC Corp	$0	–	-350,633	–	-1.82%	–
CMI	Exit	Cummins	$0	–	-157,588	–	-1.89%	–
APH	Exit	Amphenol	$0	–	-225,300	–	-2.04%	–
GILD	Exit	Gilead Sciences	$0	–	-214,144	–	-2.07%	–
AKAM	Exit	Akamai Technologies	$0	–	-387,865	–	-2.11%	–
BMRN	Exit	BioMarin Pharmaceuticals	$0	–	-350,895	–	-2.30%	–
NKE	Exit	Nike	$0	–	-287,863	–	-2.33%	–
PCP	Exit	Precision Castparts	$0	–	-110,710	–	-2.38%	–
CL	Exit	Colgate-Palmolive	$0	–	-403,584	–	-2.39%	–
PX	Exit	Praxair	$0	–	-204,525	–	-2.40%	–
EOG	Exit	EOG Resources	$0	–	-269,956	–	-2.43%	–
QCOM	Exit	Qualcomm	$0	–	-360,484	–	-2.45%	–
ACN	Exit	Accenture	$0	–	-332,575	–	-2.46%	–
ESRX	Exit	Express Scripts	$0	–	-385,411	–	-2.47%	–
AMT	Exit	American Tower	$0	–	-291,157	–	-2.48%	–
VFC	Exit	VF Corp	$0	–	-429,725	–	-2.58%	–
UTX	Exit	United Technologies	$0	–	-275,353	–	-2.64%	–
ENB	Exit	Enbridge	$0	–	-620,990	–	-2.70%	–
V	Exit	Visa	$0	–	-144,029	–	-2.79%	–
DHR	Exit	Danaher	$0	–	-406,998	–	-2.81%	–
FISV	Exit	Fiserv	$0	–	-483,063	–	-2.84%	–
AAPL	Exit	Apple	$0	–	-321,137	–	-2.94%	–
BAX	Exit	Baxter International	$0	–	-531,567	–	-3.46%	–

Q3 2014

			Value		Shares		↓ Weighting
BAX	Buy	Baxter International	$38,151,000	+21.9%	531,567	+22.8%	3.46%	+9.2%
AAPL	Buy	Apple	$32,355,000	+22.7%	321,137	+13.2%	2.94%	+10.0%
FISV	Buy	Fiserv	$31,223,000	+26.3%	483,063	+17.9%	2.84%	+13.3%
DHR	Buy	Danaher	$30,924,000	+19.4%	406,998	+23.7%	2.81%	+7.0%
V	Buy	Visa	$30,731,000	+21.1%	144,029	+19.6%	2.79%	+8.6%
ENB	Buy	Enbridge	$29,733,000	+19.3%	620,990	+18.3%	2.70%	+6.9%
UTX	Buy	United Technologies	$29,077,000	+17.2%	275,353	+28.2%	2.64%	+5.1%
VFC	Buy	VF Corp	$28,375,000	+35.9%	429,725	+29.7%	2.58%	+21.9%
AMT	Buy	American Tower	$27,261,000	+16.6%	291,157	+12.1%	2.48%	+4.6%
ESRX	Buy	Express Scripts	$27,222,000	+23.4%	385,411	+21.1%	2.47%	+10.6%
ACN	Buy	Accenture	$27,045,000	+23.8%	332,575	+23.0%	2.46%	+10.9%
QCOM	Buy	Qualcomm	$26,953,000	+5.9%	360,484	+12.2%	2.45%	-5.1%
EOG	Buy	EOG Resources	$26,731,000	-6.8%	269,956	+10.0%	2.43%	-16.4%
PX	Buy	Praxair	$26,384,000	+21.4%	204,525	+25.0%	2.40%	+8.9%
CL	Buy	Colgate-Palmolive	$26,322,000	+18.3%	403,584	+23.7%	2.39%	+6.1%
PCP	Buy	Precision Castparts	$26,225,000	+21.4%	110,710	+29.3%	2.38%	+8.8%
NKE	Buy	Nike	$25,677,000	+34.6%	287,863	+17.1%	2.33%	+20.7%
BMRN	Buy	BioMarin Pharmaceuticals	$25,321,000	+47.9%	350,895	+27.5%	2.30%	+32.6%
AKAM	Buy	Akamai Technologies	$23,194,000	+32.0%	387,865	+34.8%	2.11%	+18.4%
GILD	Buy	Gilead Sciences	$22,796,000	+38.5%	214,144	+7.9%	2.07%	+24.2%
APH	Buy	Amphenol	$22,498,000	+18.5%	225,300	+14.4%	2.04%	+6.2%
CMI	Buy	Cummins	$20,798,000	+8.9%	157,588	+27.3%	1.89%	-2.4%
FMC	Buy	FMC Corp	$20,053,000	-6.2%	350,633	+16.8%	1.82%	-15.9%
COO	New	Cooper Companies	$19,237,000	–	123,510	–	1.75%	–
BLK	New	Blackrock	$19,004,000	–	57,882	–	1.72%	–
CLB	Buy	Core Laboratories	$18,495,000	+14.0%	126,373	+30.1%	1.68%	+2.2%
ORCL	Buy	Oracle	$17,963,000	+15.4%	469,253	+22.2%	1.63%	+3.4%
ADBE	Buy	Adobe Systems	$15,123,000	+8.5%	218,566	+13.5%	1.37%	-2.8%
VRSK	New	Verisk Analytics	$14,604,000	–	239,835	–	1.33%	–
INTC	Sell	Intel	$12,810,000	-8.1%	367,900	-18.5%	1.16%	-17.6%
RSG	Sell	Republic Services, Inc.	$10,535,000	-21.2%	270,000	-23.3%	0.96%	-29.4%
DD	Sell	Dupont (EI) deNemours	$10,369,000	-11.8%	144,500	-19.6%	0.94%	-21.0%
MMC	Sell	Marsh & McLennan	$9,647,000	-21.6%	184,318	-22.4%	0.88%	-29.7%
EPD	Buy	Enterprise Products Prtnrs	$806,000	+2.9%	20,000	+100.0%	0.07%	-7.6%
SLB	Sell	Schlumberger	$597,000	-14.5%	5,872	-0.8%	0.05%	-23.9%
KMI	Buy	Kinder Morgan	$441,000	+18.5%	11,500	+12.2%	0.04%	+5.3%
ITC	Buy	ITC Holdings	$271,000	-2.2%	7,610	+0.3%	0.02%	-10.7%
FEIC	Buy	FEI Company	$245,000	+1.2%	3,255	+22.1%	0.02%	-12.0%
MIDD	Sell	Middleby	$237,000	+3.5%	2,685	-2.9%	0.02%	-4.3%
CVX	Buy	Chevron	$233,000	-0.9%	1,950	+8.3%	0.02%	-12.5%
	Buy	Canadian Energy Service	$222,000	-18.4%	26,235	+200.0%	0.02%	-28.6%
CMDXF	Buy	Computer Modelling Group	$212,000	-24.6%	20,450	+102.0%	0.02%	-32.1%
INT	Exit	World Fuel Svcs	$0	–	-4,440	–	-0.02%	–
ORLY	Exit	O'Reilly Automotive	$0	–	-1,830	–	-0.03%	–
BP	Exit	BP PLC	$0	–	-6,000	–	-0.03%	–
SDRL	Exit	Seadrill Limited	$0	–	-9,500	–	-0.04%	–
MCRS	Exit	MICROS Systems	$0	–	-231,029	–	-1.59%	–
BEN	Exit	Franklin Resources	$0	–	-346,515	–	-2.03%	–

Q2 2014

			Value		Shares		↓ Weighting
BAX	New	Baxter International	$31,302,000	–	432,942	–	3.17%	–
EOG	New	EOG Resources	$28,672,000	–	245,356	–	2.90%	–
AAPL	New	Apple	$26,367,000	–	283,734	–	2.67%	–
DHR	New	Danaher	$25,910,000	–	329,098	–	2.62%	–
QCOM	New	Qualcomm	$25,453,000	–	321,379	–	2.58%	–
V	New	Visa	$25,381,000	–	120,454	–	2.57%	–
ENB	New	Enbridge	$24,922,000	–	525,000	–	2.52%	–
UTX	New	United Technologies	$24,804,000	–	214,843	–	2.51%	–
FISV	New	Fiserv	$24,718,000	–	409,773	–	2.50%	–
AMT	New	American Tower	$23,378,000	–	259,812	–	2.37%	–
CL	New	Colgate-Palmolive	$22,249,000	–	326,324	–	2.25%	–
ESRX	New	Express Scripts	$22,057,000	–	318,141	–	2.23%	–
ACN	New	Accenture	$21,850,000	–	270,285	–	2.21%	–
PX	New	Praxair	$21,728,000	–	163,565	–	2.20%	–
PCP	New	Precision Castparts	$21,609,000	–	85,615	–	2.19%	–
FMC	New	FMC Corp	$21,374,000	–	300,238	–	2.16%	–
VFC	New	VF Corp	$20,880,000	–	331,435	–	2.11%	–
BEN	New	Franklin Resources	$20,042,000	–	346,515	–	2.03%	–
CMI	New	Cummins	$19,105,000	–	123,823	–	1.94%	–
NKE	New	Nike	$19,070,000	–	245,908	–	1.93%	–
APH	New	Amphenol	$18,980,000	–	197,010	–	1.92%	–
WFC	New	Wells Fargo	$18,144,000	–	345,200	–	1.84%	–
AKAM	New	Akamai Technologies	$17,568,000	–	287,715	–	1.78%	–
BMRN	New	Biomarin Pharmaceuticals	$17,119,000	–	275,185	–	1.73%	–
GILD	New	Gilead Sciences	$16,455,000	–	198,464	–	1.67%	–
CLB	New	Core Laboratories	$16,224,000	–	97,113	–	1.64%	–
MCRS	New	MICROS Systems	$15,687,000	–	231,029	–	1.59%	–
ORCL	New	Oracle	$15,568,000	–	384,119	–	1.58%	–
HPQ	New	Hewlett Packard	$15,092,000	–	448,100	–	1.53%	–
SYY	New	Sysco	$14,497,000	–	387,100	–	1.47%	–
BWP	New	Boardwalk Pipeline Partners	$14,426,000	–	779,800	–	1.46%	–
GE	New	General Electric	$13,959,000	–	531,167	–	1.41%	–
ADBE	New	Adobe Systems	$13,940,000	–	192,641	–	1.41%	–
INTC	New	Intel	$13,942,000	–	451,200	–	1.41%	–
L	New	Loews	$13,885,000	–	315,500	–	1.41%	–
WU	New	Western Union	$13,536,000	–	780,650	–	1.37%	–
EMC	New	E M C Corporation	$13,431,000	–	509,900	–	1.36%	–
RSG	New	Republic Services, Inc.	$13,373,000	–	352,200	–	1.35%	–
GCI	New	Gannett	$13,329,000	–	425,700	–	1.35%	–
CB	New	Chubb	$13,116,000	–	142,300	–	1.33%	–
ETN	New	Eaton	$12,893,000	–	167,050	–	1.31%	–
T	New	AT&T	$12,514,000	–	353,900	–	1.27%	–
MMC	New	Marsh & McLennan	$12,308,000	–	237,518	–	1.25%	–
DOW	New	Dow Chemical	$12,124,000	–	235,600	–	1.23%	–
DD	New	Dupont (EI) deNemours	$11,760,000	–	179,700	–	1.19%	–
JNJ	New	Johnson & Johnson	$11,689,000	–	111,724	–	1.18%	–
GD	New	Genl Dynamics Corp	$11,608,000	–	99,600	–	1.18%	–
CSCO	New	Cisco Systems	$11,605,000	–	467,000	–	1.18%	–
AXP	New	American Express	$11,316,000	–	119,284	–	1.15%	–
BDX	New	Becton Dickinson	$10,943,000	–	92,500	–	1.11%	–
SWK	New	Stanley Black & Decker Inc.	$10,881,000	–	123,900	–	1.10%	–
V107SC	New	Wellpoint Hlth Ntwk	$10,815,000	–	100,500	–	1.10%	–
CHK	New	Chesapeake Energy Corp	$10,775,000	–	346,700	–	1.09%	–
IBM	New	Intl Business Machines	$10,686,000	–	58,950	–	1.08%	–
A309PS	New	DirecTV	$10,218,000	–	120,200	–	1.04%	–
TUP	New	Tupperware Brands	$10,060,000	–	120,195	–	1.02%	–
TGT	New	Target	$9,938,000	–	171,500	–	1.01%	–
UNH	New	UnitedHealth Group	$9,777,000	–	119,600	–	0.99%	–
LMT	New	Lockheed Martin	$944,000	–	5,875	–	0.10%	–
COP	New	ConocoPhillips	$849,000	–	9,900	–	0.09%	–
EPD	New	Enterprise Products Prtnrs	$783,000	–	10,000	–	0.08%	–
SLB	New	Schlumberger	$698,000	–	5,922	–	0.07%	–
DUK	New	Duke Energy	$653,000	–	8,800	–	0.07%	–
PAA	New	Plains All Amer Pipeline LP	$601,000	–	10,000	–	0.06%	–
MRK	New	Merck	$496,000	–	8,575	–	0.05%	–
4945SC	New	Kinder Morgan Energy LP	$411,000	–	5,000	–	0.04%	–
GSK	New	Glaxo Smith Kline	$414,000	–	7,750	–	0.04%	–
XL	New	XL Group	$388,000	–	11,850	–	0.04%	–
KMI	New	Kinder Morgan	$372,000	–	10,250	–	0.04%	–
SDRL	New	Seadrill Limited	$380,000	–	9,500	–	0.04%	–
ERIE	New	Erie Indemnity Co	$365,000	–	4,850	–	0.04%	–
BP	New	BP PLC	$317,000	–	6,000	–	0.03%	–
AMG	New	Affiliated Managers Group	$284,000	–	1,385	–	0.03%	–
SBAC	New	SBA Communications	$282,000	–	2,760	–	0.03%	–
ITC	New	ITC Holdings	$277,000	–	7,590	–	0.03%	–
CMDXF	New	Computer Modelling Group	$281,000	–	10,125	–	0.03%	–
ORLY	New	O'Reilly Automotive	$276,000	–	1,830	–	0.03%	–
CHD	New	Church & Dwight	$276,000	–	3,940	–	0.03%	–
	New	Canadian Energy Service	$272,000	–	8,745	–	0.03%	–
PWR	New	Quanta Services	$262,000	–	7,590	–	0.03%	–
FEIC	New	FEI Company	$242,000	–	2,665	–	0.02%	–
CTRX	New	Catamaran Corp	$234,000	–	5,310	–	0.02%	–
CPRT	New	Copart	$238,000	–	6,620	–	0.02%	–
CVX	New	Chevron	$235,000	–	1,800	–	0.02%	–
HXL	New	Hexcel	$237,000	–	5,785	–	0.02%	–
JKHY	New	Jack Henry & Associates	$240,000	–	4,035	–	0.02%	–
FLS	New	Flowserve	$229,000	–	3,080	–	0.02%	–
MIDD	New	Middleby	$229,000	–	2,765	–	0.02%	–
INT	New	World Fuel Svcs	$219,000	–	4,440	–	0.02%	–
MDVN	New	Medivation	$217,000	–	2,810	–	0.02%	–
QLYS	New	Qualys	$222,000	–	8,630	–	0.02%	–

Q4 2013

			Value		Shares		↓ Weighting
SPY	Exit	Standard & Poorstr unit	$0	–	-1,229	–	-0.04%	–
COH	Exit	Coach	$0	–	-3,775	–	-0.04%	–
CVX	Exit	Chevron	$0	–	-1,800	–	-0.05%	–
MRK	Exit	Merck	$0	–	-5,750	–	-0.06%	–
ED	Exit	Consolidated Edison	$0	–	-5,250	–	-0.06%	–
SDRL	Exit	Seadrill Limited	$0	–	-7,500	–	-0.07%	–
XL	Exit	XL Group	$0	–	-12,250	–	-0.08%	–
LUMN	Exit	CenturyLink	$0	–	-12,000	–	-0.08%	–
EEP	Exit	Enbridge Energy Partners	$0	–	-12,750	–	-0.08%	–
4945SC	Exit	Kinder Morgan Energy LP	$0	–	-5,000	–	-0.09%	–
JPM	Exit	JPMorgan Chase	$0	–	-7,900	–	-0.09%	–
WPZ	Exit	Williams Partners	$0	–	-8,500	–	-0.10%	–
PAA	Exit	Plains All Amer Pipeline LP	$0	–	-10,000	–	-0.11%	–
SLB	Exit	Schlumberger	$0	–	-6,175	–	-0.12%	–
EPD	Exit	Enterprise Products Prtnrs	$0	–	-10,000	–	-0.13%	–
DUK	Exit	Duke Energy	$0	–	-9,133	–	-0.13%	–
LMT	Exit	Lockheed Martin	$0	–	-7,200	–	-0.20%	–
COP	Exit	ConocoPhillips	$0	–	-17,350	–	-0.26%	–
VAR	Exit	Varian Medical Systems	$0	–	-32,287	–	-0.52%	–
ESRX	Exit	Express Scripts	$0	–	-40,715	–	-0.54%	–
ADBE	Exit	Adobe Systems	$0	–	-50,906	–	-0.57%	–
CLB	Exit	Core Laboratories	$0	–	-17,968	–	-0.66%	–
MCRS	Exit	MICROS Systems	$0	–	-64,599	–	-0.70%	–
ORCL	Exit	Oracle	$0	–	-99,135	–	-0.71%	–
VRTX	Exit	Vertex Pharmaceuticals	$0	–	-45,970	–	-0.75%	–
APH	Exit	Amphenol	$0	–	-47,857	–	-0.80%	–
PX	Exit	Praxair	$0	–	-31,022	–	-0.80%	–
CMI	Exit	Cummins	$0	–	-28,823	–	-0.83%	–
ACN	Exit	Accenture	$0	–	-52,220	–	-0.83%	–
FMC	Exit	FMC Corp	$0	–	-54,018	–	-0.84%	–
NKE	Exit	Nike	$0	–	-57,203	–	-0.90%	–
BEN	Exit	Franklin Resources	$0	–	-84,415	–	-0.92%	–
AMT	Exit	American Tower	$0	–	-58,277	–	-0.93%	–
CL	Exit	Colgate-Palmolive	$0	–	-72,869	–	-0.93%	–
PCP	Exit	Precision Castparts	$0	–	-19,138	–	-0.94%	–
GILD	Exit	Gilead Sciences	$0	–	-70,961	–	-0.96%	–
FISV	Exit	Fiserv	$0	–	-45,568	–	-0.99%	–
V	Exit	Visa	$0	–	-24,619	–	-1.01%	–
UTX	Exit	United Technologies	$0	–	-43,688	–	-1.02%	–
ENB	Exit	Enbridge	$0	–	-118,775	–	-1.07%	–
QCOM	Exit	Qualcomm	$0	–	-75,459	–	-1.10%	–
DHR	Exit	Danaher	$0	–	-74,275	–	-1.11%	–
AAPL	Exit	Apple	$0	–	-11,132	–	-1.14%	–
EOG	Exit	EOG Resources	$0	–	-35,064	–	-1.28%	–
T	Exit	AT&T	$0	–	-227,800	–	-1.66%	–
HPQ	Exit	Hewlett Packard	$0	–	-448,100	–	-2.03%	–
CTSH	Exit	Cognizant Tech Solutions	$0	–	-121,650	–	-2.15%	–
EMC	Exit	E M C Corporation	$0	–	-401,200	–	-2.21%	–
DOW	Exit	Dow Chemical	$0	–	-267,800	–	-2.22%	–
WAG	Exit	Walgreen	$0	–	-193,250	–	-2.24%	–
V107SC	Exit	Wellpoint Hlth Ntwk	$0	–	-125,500	–	-2.26%	–
UNH	Exit	UnitedHealth Group	$0	–	-147,400	–	-2.28%	–
IBM	Exit	Intl Business Machines	$0	–	-58,900	–	-2.35%	–
CSCO	Exit	Cisco Systems	$0	–	-467,000	–	-2.36%	–
CHK	Exit	Chesapeake Energy Corp	$0	–	-426,900	–	-2.38%	–
JNJ	Exit	Johnson & Johnson	$0	–	-128,404	–	-2.40%	–
BDX	Exit	Becton Dickinson	$0	–	-115,000	–	-2.48%	–
AXP	Exit	American Express	$0	–	-152,800	–	-2.49%	–
INTC	Exit	Intel	$0	–	-506,500	–	-2.50%	–
WU	Exit	Western Union	$0	–	-624,450	–	-2.51%	–
RSG	Exit	Republic Services, Inc.	$0	–	-352,200	–	-2.53%	–
SYY	Exit	Sysco	$0	–	-386,800	–	-2.65%	–
DD	Exit	Dupont (EI) deNemours	$0	–	-212,700	–	-2.68%	–
CB	Exit	Chubb	$0	–	-142,300	–	-2.74%	–
L	Exit	Loews	$0	–	-279,000	–	-2.81%	–
ETN	Exit	Eaton	$0	–	-194,750	–	-2.89%	–
GCI	Exit	Gannett	$0	–	-506,500	–	-2.92%	–
GD	Exit	Genl Dynamics Corp	$0	–	-159,400	–	-3.01%	–
MMC	Exit	Marsh & McLennan	$0	–	-323,118	–	-3.03%	–
GE	Exit	General Electric	$0	–	-593,367	–	-3.06%	–
BAX	Exit	Baxter International	$0	–	-237,011	–	-3.36%	–
WFC	Exit	Wells Fargo	$0	–	-381,700	–	-3.40%	–
TUP	Exit	Tupperware Brands	$0	–	-201,493	–	-3.75%	–

Q3 2013

			Value		Shares		↓ Weighting
TUP	Buy	Tupperware Brands	$17,403,000	+11.2%	201,493	+0.0%	3.75%	+10.1%
BAX	Buy	Baxter International	$15,569,000	-5.1%	237,011	+0.0%	3.36%	-6.1%
DD	Sell	Dupont (EI) deNemours	$12,456,000	-0.9%	212,700	-11.1%	2.68%	-1.9%
RSG	Buy	Republic Services, Inc.	$11,749,000	+17.3%	352,200	+19.3%	2.53%	+16.1%
WU	Sell	Western Union	$11,652,000	-14.1%	624,450	-21.2%	2.51%	-15.0%
INTC	Buy	Intel	$11,609,000	+12.5%	506,500	+18.9%	2.50%	+11.4%
JNJ	Sell	Johnson & Johnson	$11,131,000	-22.0%	128,404	-22.8%	2.40%	-22.8%
WAG	Sell	Walgreen	$10,397,000	-21.9%	193,250	-35.8%	2.24%	-22.7%
CTSH	Sell	Cognizant Tech Solutions	$9,990,000	+9.7%	121,650	-16.4%	2.15%	+8.6%
HPQ	Buy	Hewlett Packard	$9,401,000	+15.4%	448,100	+36.4%	2.03%	+14.3%
T	Buy	AT&T	$7,704,000	-4.2%	227,800	+0.3%	1.66%	-5.1%
EOG	Sell	EOG Resources	$5,936,000	+27.9%	35,064	-0.5%	1.28%	+26.7%
AAPL	Buy	Apple	$5,307,000	+20.4%	11,132	+0.1%	1.14%	+19.2%
DHR	Buy	Danaher	$5,149,000	+9.6%	74,275	+0.1%	1.11%	+8.5%
QCOM	Buy	Qualcomm	$5,080,000	+10.3%	75,459	+0.1%	1.10%	+9.2%
ENB	Buy	Enbridge	$4,958,000	+15.0%	118,775	+15.9%	1.07%	+13.8%
UTX	Buy	United Technologies	$4,710,000	+16.0%	43,688	+0.0%	1.02%	+14.8%
V	Buy	Visa	$4,705,000	+4.6%	24,619	+0.1%	1.01%	+3.6%
FISV	Buy	Fiserv	$4,605,000	+15.7%	45,568	+0.1%	0.99%	+14.7%
GILD	Sell	Gilead Sciences	$4,461,000	+15.8%	70,961	-5.6%	0.96%	+14.7%
PCP	Sell	Precision Castparts	$4,349,000	+0.5%	19,138	-0.1%	0.94%	-0.5%
CL	Buy	Colgate-Palmolive	$4,321,000	+13.5%	72,869	+9.7%	0.93%	+12.4%
AMT	Buy	American Tower	$4,320,000	+1.5%	58,277	+0.2%	0.93%	+0.4%
BEN	Buy	Franklin Resources	$4,267,000	+23.6%	84,415	+232.5%	0.92%	+22.3%
NKE	Buy	Nike	$4,155,000	+14.2%	57,203	+0.1%	0.90%	+13.1%
FMC	Buy	FMC Corp	$3,874,000	+29.2%	54,018	+10.0%	0.84%	+27.9%
ACN	Buy	Accenture	$3,845,000	+4.1%	52,220	+1.8%	0.83%	+3.1%
CMI	Buy	Cummins	$3,830,000	+22.6%	28,823	+0.0%	0.83%	+21.5%
PX	Buy	Praxair	$3,729,000	+15.6%	31,022	+10.8%	0.80%	+14.5%
APH	Buy	Amphenol	$3,703,000	-0.6%	47,857	+0.1%	0.80%	-1.6%
VRTX	Buy	Vertex Pharmaceuticals	$3,485,000	-4.0%	45,970	+1.3%	0.75%	-5.1%
ORCL	Buy	Oracle	$3,288,000	+9.7%	99,135	+1.6%	0.71%	+8.6%
MCRS	Sell	MICROS Systems	$3,226,000	+13.8%	64,599	-1.6%	0.70%	+12.6%
CLB	Buy	Core Laboratories	$3,040,000	+11.7%	17,968	+0.1%	0.66%	+10.5%
ADBE	Buy	Adobe Systems	$2,644,000	+14.1%	50,906	+0.0%	0.57%	+12.9%
ESRX	New	Express Scripts	$2,516,000	–	40,715	–	0.54%	–
VAR	Buy	Varian Medical Systems	$2,413,000	+10.9%	32,287	+0.1%	0.52%	+9.7%
COP	Buy	ConocoPhillips	$1,206,000	+16.9%	17,350	+1.8%	0.26%	+15.6%
DUK	Buy	Duke Energy	$610,000	+2.7%	9,133	+3.8%	0.13%	+2.3%
MRK	Buy	Merck	$274,000	+12.3%	5,750	+9.5%	0.06%	+11.3%
SPY	New	Standard & Poorstr unit	$206,000	–	1,229	–	0.04%	–
COH	Sell	Coach	$206,000	-93.6%	3,775	-93.3%	0.04%	-93.7%
CMP	Exit	Compass Minerals	$0	–	-37,339	–	-0.69%	–
CTAS	Exit	Cintas	$0	–	-264,146	–	-2.62%	–

Q2 2013

			Value		Shares		↓ Weighting
BAX	New	Baxter International	$16,412,000	–	236,934	–	3.57%	–
WFC	New	Wells Fargo	$15,753,000	–	381,700	–	3.43%	–
TUP	New	Tupperware Brands	$15,652,000	–	201,470	–	3.41%	–
JNJ	New	Johnson & Johnson	$14,278,000	–	166,299	–	3.11%	–
GE	New	General Electric	$13,760,000	–	593,367	–	3.00%	–
WU	New	Western Union	$13,565,000	–	792,800	–	2.95%	–
WAG	New	Walgreen	$13,309,000	–	301,100	–	2.90%	–
SYY	New	Sysco	$13,213,000	–	386,800	–	2.88%	–
MMC	New	Marsh & McLennan	$12,899,000	–	323,118	–	2.81%	–
ETN	New	Eaton	$12,816,000	–	194,750	–	2.79%	–
DD	New	Dupont (EI) deNemours	$12,563,000	–	239,300	–	2.74%	–
GD	New	Genl Dynamics Corp	$12,486,000	–	159,400	–	2.72%	–
L	New	Loews	$12,388,000	–	279,000	–	2.70%	–
GCI	New	Gannett	$12,389,000	–	506,500	–	2.70%	–
CB	New	Chubb	$12,046,000	–	142,300	–	2.62%	–
CTAS	New	Cintas	$12,029,000	–	264,146	–	2.62%	–
AXP	New	American Express	$11,423,000	–	152,800	–	2.49%	–
BDX	New	Becton Dickinson	$11,365,000	–	115,000	–	2.48%	–
CSCO	New	Cisco Systems	$11,353,000	–	467,000	–	2.47%	–
IBM	New	Intl Business Machines	$11,256,000	–	58,900	–	2.45%	–
INTC	New	Intel	$10,315,000	–	425,900	–	2.25%	–
V107SC	New	Wellpoint Hlth Ntwk	$10,271,000	–	125,500	–	2.24%	–
RSG	New	Republic Services, Inc.	$10,019,000	–	295,200	–	2.18%	–
UNH	New	UnitedHealth Group	$9,652,000	–	147,400	–	2.10%	–
EMC	New	E M C Corporation	$9,476,000	–	401,200	–	2.06%	–
CTSH	New	Cognizant Tech Solutions	$9,110,000	–	145,500	–	1.98%	–
CHK	New	Chesapeake Energy Corp	$8,700,000	–	426,900	–	1.90%	–
DOW	New	Dow Chemical	$8,615,000	–	267,800	–	1.88%	–
HPQ	New	Hewlett Packard	$8,144,000	–	328,400	–	1.77%	–
T	New	AT&T	$8,043,000	–	227,200	–	1.75%	–
DHR	New	Danaher	$4,699,000	–	74,230	–	1.02%	–
EOG	New	EOG Resources	$4,640,000	–	35,234	–	1.01%	–
QCOM	New	Qualcomm	$4,604,000	–	75,357	–	1.00%	–
V	New	Visa	$4,496,000	–	24,604	–	0.98%	–
AAPL	New	Apple	$4,409,000	–	11,118	–	0.96%	–
PCP	New	Precision Castparts	$4,329,000	–	19,155	–	0.94%	–
ENB	New	Enbridge	$4,312,000	–	102,490	–	0.94%	–
AMT	New	American Tower	$4,258,000	–	58,187	–	0.93%	–
UTX	New	United Technologies	$4,059,000	–	43,677	–	0.88%	–
FISV	New	Fiserv	$3,979,000	–	45,520	–	0.87%	–
GILD	New	Gilead Sciences	$3,853,000	–	75,143	–	0.84%	–
CL	New	Colgate-Palmolive	$3,807,000	–	66,443	–	0.83%	–
APH	New	Amphenol	$3,726,000	–	47,802	–	0.81%	–
ACN	New	Accenture	$3,692,000	–	51,308	–	0.80%	–
NKE	New	Nike	$3,638,000	–	57,125	–	0.79%	–
VRTX	New	Vertex Pharmaceuticals	$3,632,000	–	45,372	–	0.79%	–
BEN	New	Franklin Resources	$3,453,000	–	25,385	–	0.75%	–
PX	New	Praxair	$3,225,000	–	28,002	–	0.70%	–
COH	New	Coach	$3,218,000	–	56,367	–	0.70%	–
CMP	New	Compass Minerals	$3,156,000	–	37,339	–	0.69%	–
CMI	New	Cummins	$3,125,000	–	28,815	–	0.68%	–
FMC	New	FMC Corp	$2,999,000	–	49,108	–	0.65%	–
ORCL	New	Oracle	$2,998,000	–	97,615	–	0.65%	–
MCRS	New	MICROS Systems	$2,834,000	–	65,671	–	0.62%	–
CLB	New	Core Laboratories	$2,722,000	–	17,945	–	0.59%	–
ADBE	New	Adobe Systems	$2,318,000	–	50,888	–	0.50%	–
VAR	New	Varian Medical Systems	$2,175,000	–	32,244	–	0.47%	–
COP	New	ConocoPhillips	$1,032,000	–	17,050	–	0.22%	–
LMT	New	Lockheed Martin	$781,000	–	7,200	–	0.17%	–
EPD	New	Enterprise Products Prtnrs	$622,000	–	10,000	–	0.14%	–
DUK	New	Duke Energy	$594,000	–	8,800	–	0.13%	–
PAA	New	Plains All Amer Pipeline LP	$558,000	–	10,000	–	0.12%	–
SLB	New	Schlumberger	$443,000	–	6,175	–	0.10%	–
WPZ	New	Williams Partners	$439,000	–	8,500	–	0.10%	–
4945SC	New	Kinder Morgan Energy LP	$427,000	–	5,000	–	0.09%	–
LUMN	New	CenturyLink	$424,000	–	12,000	–	0.09%	–
JPM	New	JPMorgan Chase	$417,000	–	7,900	–	0.09%	–
EEP	New	Enbridge Energy Partners	$389,000	–	12,750	–	0.08%	–
XL	New	XL Group	$371,000	–	12,250	–	0.08%	–
ED	New	Consolidated Edison	$306,000	–	5,250	–	0.07%	–
SDRL	New	Seadrill Limited	$306,000	–	7,500	–	0.07%	–
MRK	New	Merck	$244,000	–	5,250	–	0.05%	–
CVX	New	Chevron	$213,000	–	1,800	–	0.05%	–

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